A new batch of research grants, worth $19 million, was announced earlier this week by the state Life Sciences Discovery Fund. It’s the quasi-public agency charged with running a 10-year, $350 million program to invest the state’s tobacco settlement money in biomedical research and development. This round, grants were given to develop new vaccines, improve … Continue reading “State Tobacco Moneyman, John DesRosier, Aims to Push Biotech Ideas Beyond “Valley of Death””
Category: National
“Boston Bullet” Wins Local Motors Design Competition
Local Motors, a Wareham, MA, startup that has incorporated Web-based community collaboration into its unconventional new process for designing consumer automobiles, today announced the winner of its latest online auto design competition, which challenged community members to come up with a design fit for Boston’s narrow streets and urban lifestyles. Mihai Panaitescu, a Romanian who … Continue reading ““Boston Bullet” Wins Local Motors Design Competition”
Local Motors Tackles Carbon Crisis with Lightweight, Crowdsourced Cars
While capitalist systems are, in theory, open to any entrepreneur with an idea for a better mousetrap, most investors are pragmatists. They aren’t likely to pony up for a garage tinkerer with a way to build passenger jets better than Boeing’s or supercomputers better than Cray’s. The reality, in other words, is that certain high-tech … Continue reading “Local Motors Tackles Carbon Crisis with Lightweight, Crowdsourced Cars”
Ventures West “Sells High” After Positive Prostate Cancer News From OncoGenex
Wonder why OncoGenex Pharmaceuticals stock suddenly dropped after it was the best performer on the Nasdaq last week? Here’s a clue: One of its largest shareholders, Vancouver, BC-based Ventures West Capital, sold almost half of its stake in OncoGenex after the company said its experimental drug could prolong the lives of terminal ill patients with … Continue reading “Ventures West “Sells High” After Positive Prostate Cancer News From OncoGenex”
Amgen Tries to “Personalize” Drug, VLST Snags Deal, Tobacco Money Backs Research, & More Seattle-Area Life Sciences News
Many life sciences shut down operations between Christmas and New Year’s Day, so obviously they need to cram a lot of work into weeks like the last one. Here’s a rundown of the big news. —Amgen, the giant biotech with about 1,000 employees in Washington, went before an FDA advisory panel to make an unusual … Continue reading “Amgen Tries to “Personalize” Drug, VLST Snags Deal, Tobacco Money Backs Research, & More Seattle-Area Life Sciences News”
Biotech Veteran Talks of Hedge Fund Investing, Boston Celtics, and Hot Companies
The first thing I noticed when I sat down in the office of biotech investor Rich Aldrich was a shelved paperback copy of Barbarians at the Gate, the book about the legendary leveraged buyout of R.J.R Nabisco. It reminded me that Aldrich is a main character in a somewhat similar book about the biotech industry, … Continue reading “Biotech Veteran Talks of Hedge Fund Investing, Boston Celtics, and Hot Companies”
Vampires, Smartphones, and Social Activism: Which Websites Were Hot in 2008
It’s not just Facebook, MySpace, and Wikipedia anymore. A large number of social websites and wikis have become major players on the Web. Today’s launch of the Seattle-based cooking site Foodista.com is the latest example. But the top social sites of the year were dedicated to TV shows, social activism, gaming, smartphones, and education—in that … Continue reading “Vampires, Smartphones, and Social Activism: Which Websites Were Hot in 2008”
Cadence Shares Boom as IV Pain Reliever Reaches Goal in Study
San Diego-based Cadence Pharmaceuticals shares shot up about 30 percent this morning after the company announced it had success in a clinical trial with a new version of an old pain reliever. Cadence (NASDAQ: [[ticker:CADX]]) says its version of acetaminophen, the pain reliever marketed in tablets by Johnson & Johnson as Tylenol, succeeded in a … Continue reading “Cadence Shares Boom as IV Pain Reliever Reaches Goal in Study”
Xconomy, Seattle Post-Intelligencer Form Partnership to Share Online News, Features
Xconomy’s growing audience in the Seattle area just got even bigger. Today, my colleague Greg Huang and I are thrilled to announce that our company has formed a partnership with one of the heavyweights of the Northwest news business, the Seattle Post-Intelligencer. Under this deal, the P-I readers will get access to Xconomy news and … Continue reading “Xconomy, Seattle Post-Intelligencer Form Partnership to Share Online News, Features”
Venture Survey Forecasts A Big Chill, With Solar Bright Spot, in 2009
More gloomy forecasts from private investors in high-tech sectors. U.S. venture capitalists see a cooling trend in the investment climate for the year ahead. One of the only bright spots I saw in the National Venture Capital Association (NVCA) Predictions Survey is that a majority of VCs are optimistic that the market for initial public … Continue reading “Venture Survey Forecasts A Big Chill, With Solar Bright Spot, in 2009”
Abbott Labs Acquires Isis Diagnostics Unit for $215M
Good news for shareholders of Carlsbad, CA-based Isis Pharmaceuticals. Abbott Laboratories, the diversified health products giant, is exercising its right to acquire Isis’ diagnostics spinoff, Ibis Biosciences, for a total of $215 million plus some future payments tied to sales of the instruments. Abbott Park, IL-based Abbott (NYSE: [[ticker:ABT]]) will pay Isis shareholders $175 million … Continue reading “Abbott Labs Acquires Isis Diagnostics Unit for $215M”
Genzyme and Boston Scientific Get Good News From the FDA; Acusphere and Targanta Not So Much; TransMedics Pulls IPO Plug; & More Boston-Area Life Sciences News
New England’s life sciences firms got a lot of news from the FDA this past week—not all of it good. Here’s more on that, and the rest of the week’s news from the sector. —Ryan caught up with the CEO of Targanta Therapeutics (NASDAQ:[[ticker:TARG]]) the day after the FDA has decided to not to approve … Continue reading “Genzyme and Boston Scientific Get Good News From the FDA; Acusphere and Targanta Not So Much; TransMedics Pulls IPO Plug; & More Boston-Area Life Sciences News”
Lilly’s San Diego Biotechnology Center of Silence
Eli Lilly and Co. executives were downright chatty about the company’s biotechnology strategy last week when they convened a meeting with Wall Street analysts. “We see more and more that biotech is a key to sustaining pharmaceutical innovation for the future,” Lilly’s vice president of biotech discovery research, Tom Bumol, said in a statement the … Continue reading “Lilly’s San Diego Biotechnology Center of Silence”
VLST Snags Partnership with Novo Nordisk to Develop New Drugs for Autoimmunity
VLST has nailed down its first partnership with a major pharmaceutical company. The Seattle biotech is announcing today it has formed an exclusive, worldwide collaboration that will allow Danish drugmaker Novo Nordisk to develop drugs against cell targets VLST has discovered for autoimmune and inflammatory diseases. It’s a pretty big deal for VLST. The collaboration … Continue reading “VLST Snags Partnership with Novo Nordisk to Develop New Drugs for Autoimmunity”
ITA Software: The Travel Company Everyone Uses and No One Knows Reinvents Airline Reservations, Again
In the heart of Cambridge, MA, a few blocks from the MIT campus and across the street from the missile-guidance labs at Draper Laboratories, there’s a 10-story brick office building with a brand-new corporate logo near its crown. It’s the ITA Software building, and the LED-backed logo, with its distinctive airplane-tailed @ sign, was switched … Continue reading “ITA Software: The Travel Company Everyone Uses and No One Knows Reinvents Airline Reservations, Again”
Will Biomass Power the Utilities of the Near Future?
Oil prices have recently dropped well below $100 in response to slower economic growth around the world. But this decline doesn’t necessarily mean that the utilities industry will be able to provide cheaper power to millions of American consumers and companies. In fact, utilities are going to face huge and upward price pressure on the … Continue reading “Will Biomass Power the Utilities of the Near Future?”
Seattle-Area Wireless Companies (and Others) Look to Innovate, Expand in China
A couple of news tidbits involving China in the past week have made me look more closely at what local startups and companies are doing to expand there. On Thursday, Seattle-based Airbiquity, a wireless communications firm focused on the auto industry, announced it has entered the Chinese market, branding itself locally as Ai Bi Ke … Continue reading “Seattle-Area Wireless Companies (and Others) Look to Innovate, Expand in China”
Seventh Sense Biosystems Raises $4.75M Series A, Board Attracts MIT’s Langer and Other Big Names
Cambridge, MA-based Flagship Ventures has managed to keep the existence of one of the companies it has been incubating, Seventh Sense Biosystems, a secret for about a year. But the closing of the startup’s Series A round of financing put some information about the firm in the public domain this week. (PE Hub had this … Continue reading “Seventh Sense Biosystems Raises $4.75M Series A, Board Attracts MIT’s Langer and Other Big Names”
India’s Innovation Front Lines, Part 4: Of Hyper-Competition and Corruption
Bangalore, December 15—For 45 years after independence, Indian companies for all practical purposes operated without competition. Monopolies were granted by the government for extended periods. Many fortunes were made, both by industrialists and corrupt politicians. Consumers had to wait years for “luxury” goods such as cars and telephones. This began to change in 1992, when … Continue reading “India’s Innovation Front Lines, Part 4: Of Hyper-Competition and Corruption”
Amgen’s Bid to Make Cancer Drug “Personalized” Lacks Data, FDA Panel Says
Amgen, the world’s largest biotechnology company, with operations in Seattle and Cambridge, MA, came up short in its bid to make its colorectal cancer drug personalized today in front of a panel of expert advisers to the FDA. The panel said Amgen and Eli Lilly will have to run more clinical trials to gather enough … Continue reading “Amgen’s Bid to Make Cancer Drug “Personalized” Lacks Data, FDA Panel Says”
State Tobacco Cash Funneled Into Vaccines, Biotech Drug Delivery, Cardiac Arrest, and Mental Health Research
(Update: This story has added information on the six finalists that fell short in their bid for state grants.) Washington’s Life Sciences Discovery Fund just made a bunch of biomedical researchers either very happy, or highly disappointed. The 10-year, $350 million initiative, which takes money from the state tobacco settlement, chose to pump almost $19 … Continue reading “State Tobacco Cash Funneled Into Vaccines, Biotech Drug Delivery, Cardiac Arrest, and Mental Health Research”
Mass Life Sciences Center Attracts J&J Matching Funds, Awards $3.7M in Industry-Academic Grants
It’s a big day for the Massachusetts Life Sciences Center, the quasi-public agency that manages the state’s plan to invest $1 billion in its life sciences industry over the next 10 years. New Jersey-based medical products giant Johnson & Johnson (NYSE:[[ticker:JNJ]]) has become the first company to join the agency’s new Corporate Consortium intended to … Continue reading “Mass Life Sciences Center Attracts J&J Matching Funds, Awards $3.7M in Industry-Academic Grants”
Luck, Curiosity, Naivete: The Essential Ingredients of Innovation
It’s cold outside, so I was a little bummed there was no actual fire at an event last night billed as a “fireside chat.” This get-together actually took some time to warm up (pun intended). But once it got rolling, three of the most experienced life sciences entrepreneurs in the region shed some light on … Continue reading “Luck, Curiosity, Naivete: The Essential Ingredients of Innovation”
Legislator Drafting Bill to Outlaw Non-Compete Agreements in Massachusetts
Many Massachusetts companies require new employees to sign agreements saying that if they leave, they won’t go to work for a competitor for at least a year. The idea behind these non-compete agreements is to prevent a company’s competitors from gaining access to trade secrets and key personnel. But there’s a growing chorus of entrepreneurs, … Continue reading “Legislator Drafting Bill to Outlaw Non-Compete Agreements in Massachusetts”
$2.6M Helps Healionics Heal, Uptake Takes In $3M, BlueKai Gets $10.5M Boost, & More Seattle-Area Deals News
Maybe it’s because everyone is trying to get their deals announced before the holidays, but it was a busy week in the Northwest, with plenty of activity in mobile software, online media, and medical devices. —Bellevue, WA-based BlueKai, an Internet marketing firm, raised $10.5 million in Series B funding, led by Waltham, MA-based Battery Ventures. … Continue reading “$2.6M Helps Healionics Heal, Uptake Takes In $3M, BlueKai Gets $10.5M Boost, & More Seattle-Area Deals News”
Flybridge Unveils Scholarship Program to Help Students Network and Stay in MA
Massachusetts is home to perhaps the world’s greatest concentration of top colleges and universities, many of them rich in the science and engineering education that forms the backbone of our high-tech economy. But one rap the Bay State has taken is that many graduates leave for jobs on the West Coast and other places rather … Continue reading “Flybridge Unveils Scholarship Program to Help Students Network and Stay in MA”
Prostate Cancer Drug Vaults OncoGenex Onto Investor Radar Screens
The best-performing stock on the Nasdaq last week was a little biotech company from the Pacific Northwest that few people had heard of before. The company was OncoGenex Pharmaceuticals, a cancer drug developer based in Vancouver, BC and Bothell, WA, with technology licensed from Carlsbad, CA-based Isis Pharmaceuticals. Before last week, OncoGenex appeared to be … Continue reading “Prostate Cancer Drug Vaults OncoGenex Onto Investor Radar Screens”
BlueKai Makes Splash with $10.5M Round, Wants Advertisers to Understand Consumer Intentions
BlueKai, an online-marketing startup in Bellevue, WA, has nailed down one of the bigger tech venture deals of the past few months. The company is announcing today it has closed a $10.5 million Series B investment led by Battery Ventures, based in Waltham, MA, and Menlo Park, CA. The round also includes returning investor Redpoint … Continue reading “BlueKai Makes Splash with $10.5M Round, Wants Advertisers to Understand Consumer Intentions”
Genzyme Wins FDA Approval of Mozobil
Genzyme won FDA approval today of a new drug for patients with blood cancers. The Cambridge, MA-based biotech company (NASDAQ: [[ticker:GENZ]]) said it has gotten clearance to sell plerixafor (Mozobil) as an injectable drug for patients with a pair of deadly blood malignancies, non-Hodgkin’s lymphoma and multiple myeloma, who need transplants of blood-forming stem cells. … Continue reading “Genzyme Wins FDA Approval of Mozobil”
Boston Hedge Fund Lashes Northstar Neuroscience, Urges Liquidation
Pressure is mounting once again on Northstar Neuroscience to fold up its tent and go home. The Seattle-based medical device company got hit today with an angry letter from one of its largest shareholders, Boston-based RA Capital, which urges the board to shut down the company and distribute all of its remaining cash and assets … Continue reading “Boston Hedge Fund Lashes Northstar Neuroscience, Urges Liquidation”
Everypoint Introduces Slick Mobile Apps for the Non-iPhone Crowd
There’s a reason why the excitement in the mobile application development world has shifted to new platforms such as the Apple iPhone and Google’s Android operating system. It’s because it’s relatively easy to write and disseminate cool software for these systems, which offer a) lots of support for powerful graphics and communications, b) access to … Continue reading “Everypoint Introduces Slick Mobile Apps for the Non-iPhone Crowd”
Adventrx Pharmaceuticals Considers Selling Cancer Drugs
Adventrx Pharmaceuticals issued one of those press releases this morning that suggests the end is near. The San Diego-based cancer drug developer said today it is “exploring strategic options” that include a sale of one or more of its product candidates, or what it calls a “strategic business merger.” When your stock is trading at … Continue reading “Adventrx Pharmaceuticals Considers Selling Cancer Drugs”
Uptake Medical Raises $3M in Venture Capital
Uptake Medical, a Seattle-based medical device company, has raised $3 million to carry out a pair of small clinical trials that could show it has a viable technique for treating emphysema, and other deadly lung-obstructing diseases. The company got the cash as a “bridge” financing to carry out trials in Australia and Germany, which should … Continue reading “Uptake Medical Raises $3M in Venture Capital”
Santarus Nabs U.S. Rights for Two Drugs in Cosmo Collaboration
San Diego specialty drug firm Santarus (NASDAQ:[[ticker:SNTS]]) says it has struck a deal with a unit of Italy-based Cosmo Pharmaceuticals (SIX:[[ticker:COPN]]) to commercialize two Cosmo drugs in the U.S. The drugs—which are extended-release versions of budesonide, a steroid, for ulcers and rifamycin, an antibiotic, for traveler’s diarrhea—are in clinical development in Europe and the U.S. … Continue reading “Santarus Nabs U.S. Rights for Two Drugs in Cosmo Collaboration”
Amgen Cancer Drug Getting Personal, Which May Be a Good Thing for Patients—and Sales
Amgen is preparing to make an unusual argument to an FDA advisory panel tomorrow. The world’s largest biotech company (NASDAQ: [[ticker:AMGN]]), with research operations in Seattle and Cambridge, MA, plans to make a case that one of its drugs should be used by just a subgroup of patients with colorectal cancer who appear to be … Continue reading “Amgen Cancer Drug Getting Personal, Which May Be a Good Thing for Patients—and Sales”
Economy Makes Disease Foundations Get Choosier
The biotech industry is always on the lookout for cash, so one of the more positive developments of recent years has been the entrance of disease foundations into the pool of potential investors. Cambridge, MA-based Vertex Pharmaceuticals (NASDAQ:[[ticker:VRTX]]), for one, has said that their efforts to develop VX-770 for treating cystic fibrosis wouldn’t be possible … Continue reading “Economy Makes Disease Foundations Get Choosier”
Got $10M? Seattle Chapter of Tiger 21 May Be For You (Part 2)
On Friday, we reported that Tiger 21, a New York-based network and support group for the very wealthy, is setting up a Seattle chapter, headed by the local entrepreneur and investor Andy Sack. (Tiger 21 had planned to announce the news today, but another media outlet jumped the gun on Friday.) The point of Tiger … Continue reading “Got $10M? Seattle Chapter of Tiger 21 May Be For You (Part 2)”
Brain Cells Inc., No Dummy, Raised $50M Before Recession Got Really Ugly
At least in the world of finance, Brain Cells Inc. can make a credible claim that it has a little more going on upstairs than your average biotech company. The San Diego-based startup had flawless timing, by completing a $50 million Series B financing back in April, before venture capital became really hard to come … Continue reading “Brain Cells Inc., No Dummy, Raised $50M Before Recession Got Really Ugly”
California Stem Cell Agency Awards Grants, Cohu Buys German Rival, Amylin Gets Go-Ahead, & More San Diego BizTech News
Venture and private equity firms apparently have clamped down on much of their funding activities in San Diego, but some local firms were able to take advantage of state and federal sources of cash last week. We also saw the Food and Drug Administration give Amylin a break and Qualcomm’s top executives offer their outlook … Continue reading “California Stem Cell Agency Awards Grants, Cohu Buys German Rival, Amylin Gets Go-Ahead, & More San Diego BizTech News”
Scallop Imaging Security Cameras Give New Meaning to All-Seeing
With only two eyes apiece, spanning a mere 180-degree field of view, humans have an innately limited understanding of what it means to see. Some insects have compound eyes with hundreds or thousands of facets that can form a nearly 360-degree picture of the world around them. The shells of many scallop species are rimmed … Continue reading “Scallop Imaging Security Cameras Give New Meaning to All-Seeing”
Got $10M? Seattle Chapter of Tiger 21 May Be For You (Part 1)
Think the super-rich don’t have problems? Try fending off friends and relatives who always want to borrow money, or raising spoiled brats who don’t take responsibility for their actions. Not to mention the more obvious financial questions of how to manage such hefty portfolios—especially in economic times like these. (Granted, some of this might be … Continue reading “Got $10M? Seattle Chapter of Tiger 21 May Be For You (Part 1)”
Dude! San Diego’s Connect Gives Surf Board Maker (And 8 Others) Technology Award
Against the backdrop of a worsening recession, San Diego’s innovation community came together for the 21st annual “Most Innovative Products” awards luncheon today in La Jolla. The event is intended to showcase new products introduced over the past year in eight categories that reflect technology clusters, such as wireless communications, medical devices, and aerospace and … Continue reading “Dude! San Diego’s Connect Gives Surf Board Maker (And 8 Others) Technology Award”
Tick Tock. The Deadline to Enter the Battle of The Tech Bands is Midnight Tonight
Just a friendly reminder to all of you who trade pipettes, protractors, and powerpoints for whammy bars and hi hats at the end of the day: The deadline to enter Xconomy’s second annual Battle of the Tech Bands is midnight tonight. It’s shaping up to be a spectacular show and the prizes are pretty sweet, … Continue reading “Tick Tock. The Deadline to Enter the Battle of The Tech Bands is Midnight Tonight”
Vaccines Force Their Way off Pharma’s Back Burner, as Price Increases Help Fuel New Wave of Innovation
A newfound energy is coalescing around the science and business of vaccines, and much of it is happening right here in Seattle. We explored the trend yesterday evening in our first Xconomy Forum in Seattle. The event, held at The Institute for Systems Biology, attracted more than 85 people for an hour of panel discussion … Continue reading “Vaccines Force Their Way off Pharma’s Back Burner, as Price Increases Help Fuel New Wave of Innovation”
Energy Innovation and the Economy: New England Speaks Out on Video
During the networking-and-refreshments portion of Xconomy’s forum on Energy Innovation at the British Consulate General in Cambridge, MA, last week, we pulled aside a few volunteers to share their personal thoughts about energy innovation on camera. We’ve rolled the most interesting responses together into the 10-minute video at the end of this post. Xconomy’s business … Continue reading “Energy Innovation and the Economy: New England Speaks Out on Video”
Biogen Idec VC Group Sees Opportunity in Tough Market, Has $100M New Allocation to Invest in Biotech Firms
It’s tough times for biotech entrepreneurs in search of new funds to launch startups, with early-stage investors conserving capital for their existing portfolio companies. Yet one venture group that isn’t hurting for capital nowadays is Biogen Idec New Ventures, the San Diego-based VC arm of big biotech company Biogen Idec (NASDAQ:[[ticker:BIIB]]). Biogen this year committed … Continue reading “Biogen Idec VC Group Sees Opportunity in Tough Market, Has $100M New Allocation to Invest in Biotech Firms”
How To Invent: Tips from Patrick Ennis of Intellectual Ventures (Part 2)
Yesterday, I gave a few highlights from a lunchtime discussion with Intellectual Ventures’ global head of technology, Patrick Ennis. The Bellevue, WA-based firm, founded by Nathan Myhrvold and Edward Jung, is sometimes called an “invention company.” It has gotten a lot of attention—and stirred controversy—for buying up large numbers of technology patents worldwide. So I … Continue reading “How To Invent: Tips from Patrick Ennis of Intellectual Ventures (Part 2)”
Boston-Power Gets a Charge Out of HP, Semprus Seizes $8M, Alnylam Expands Patent Position, & More Boston-Area Deals News
How about half a dozen venture deals to brighten a dreary New England week? Those, and the rest of the Boston-area deals news, below. —Several Boston-area firms helped funnel $40 million into cellulosic ethanol startup Coskata of Warrenville, IL. The Series C round was led by the new Cleantech Venture Fund of Blackstone Group, which … Continue reading “Boston-Power Gets a Charge Out of HP, Semprus Seizes $8M, Alnylam Expands Patent Position, & More Boston-Area Deals News”
State Stem Cell Grants Awarded to Four San Diego Biotechs
Venture funding for San Diego’s life science companies seems to have slowed to a trickle, but four local biotechs are among the first companies to get grants from California’s taxpayer-funded stem cell institute. The 29-member governing board for the California Institute for Regenerative Medicine voted Wednesday to approve funding of more than $19.8 million for … Continue reading “State Stem Cell Grants Awarded to Four San Diego Biotechs”
Former “Daily Show” Producer Karlin is Humorist Behind WonderGlen Comedy Site
Since October, the Internet has been abuzz with discussion about WonderGlen, a fictional TV production company whose fake company intranet is a window onto the obsessions of a staff that takes dysfunction well beyond the levels of Dunder Mifflin, the fictional paper company in NBC’s “The Office.” Much of the buzz has focused on the … Continue reading “Former “Daily Show” Producer Karlin is Humorist Behind WonderGlen Comedy Site”