Making its own Election Day news, Cambridge, MA-based biotech powerhouse Genzyme (NASDAQ:[[ticker:GENZ]]) has struck a deal with Osiris Therapeutics (NASDAQ:[[ticker:OSIR]]), of Columbia, MD, to commercialize and develop two adult stem cell treatments in a variety of diseases. If all goes as planned, one of the two, called Prochymal, could become the first stem-cell therapy to … Continue reading “Genzyme Elects $1.38B Stem Cell Deal with Osiris”
Category: National
ZymoGenetics Cash Gets Lean, Recothrom Sales Still Slow
(Update: This story has been updated to add material from ZymoGenetics’ conference call with analysts, starting with the fourth paragraph.) ZymoGenetics still hasn’t found a groove with its recombinant thrombin drug (Recothrom) for surgical bleeding. The Seattle biotech company said today it sold $1.8 million of the drug in the quarter ending Sept. 30. Things … Continue reading “ZymoGenetics Cash Gets Lean, Recothrom Sales Still Slow”
Amylin Shareholder Floats Idea of Selling Company
Activist shareholders are circling Amylin Pharmaceuticals. Eastbourne Capital, which owns a 12.5 percent stake in the San Diego-based biotech company, said on Monday that it is looking at ways to boost the stock price, including possibly selling the company, according to this Reuters report. Much has been made about declining demand for exenatide (Byetta), the … Continue reading “Amylin Shareholder Floats Idea of Selling Company”
How Bad is the Biotech Climate? Think 4 on a Scale of 10
The climate for biotechnology companies in Massachusetts today is 33 percent worse than it was this time last year—rating a ‘4’ on a scale of 10, in contrast to the ‘6’ last fall. This was the definitive, near-unanimous view—four out of five—from panelists at a Massachusetts Biotechnology Council finance committee event I moderated recently on … Continue reading “How Bad is the Biotech Climate? Think 4 on a Scale of 10”
Tysabri: The Big Multiple Sclerosis Drug That Emerged From “The Hutch”
The most effective drug on the market today for patients with multiple sclerosis has roots in a dingy old lab in the 1980s on Seattle’s First Hill. It was there that a pair of young scientists at the Fred Hutchinson Cancer Research Center, Bill Carter and Elizabeth Wayner, made key discoveries that paved the way … Continue reading “Tysabri: The Big Multiple Sclerosis Drug That Emerged From “The Hutch””
Kashless Cashes In, InEnTec Gets $150M, EnerG2 Energized by Venture Investment, & More Seattle-Area Deals News
Heading into Election Day (have you voted yet?), the deal flow has really picked up in the Northwest. Cleantech and energy were the big winners this week, followed by Web software and biomedical hardware. —Xconomy broke the news of Seattle-based EnerG2, a startup out of the University of Washington, raising an $8.5 million Series A … Continue reading “Kashless Cashes In, InEnTec Gets $150M, EnerG2 Energized by Venture Investment, & More Seattle-Area Deals News”
ZeeVee Launches Free, Browser-based Version of Zviewer Video Portal
There’s a new development in the saga of ZeeVee, the Littleton, MA, startup that makes a “localcasting” PC-to-HDTV appliance called the ZvBox. It’s taking the best part of its appliance—an elegant user interface that aggregates video from across the Internet—and making it available to all Windows computer users over the Web. The newly liberated “ZViewer” … Continue reading “ZeeVee Launches Free, Browser-based Version of Zviewer Video Portal”
ZymoGenetics Drug For Hepatitis C Kills Virus with Minimal Side Effects
ZymoGenetics may have a sleeper in its pipeline about to wake up. The Seattle biotech company is reporting today that its experimental drug, called peg-interferon lambda, was able to kill the hepatitis C virus at all three doses tested in a small clinical trial without the flu-like symptoms associated with standard interferon alpha drugs used … Continue reading “ZymoGenetics Drug For Hepatitis C Kills Virus with Minimal Side Effects”
EnerG2, a University of Washington Startup, Raises $8.5M for Energy Storage, Led by OVP
Xconomy has learned that EnerG2, an advanced materials company in Seattle, has closed an $8.5 million round of Series A financing, led by Kirkland, WA-based OVP Venture Partners and Palo Alto, CA-based Firelake Capital Management, according to multiple sources familiar with the deal. The news suggests that energy venture deals could be hot, even in … Continue reading “EnerG2, a University of Washington Startup, Raises $8.5M for Energy Storage, Led by OVP”
They’re Mad as Hell, And You’re Not Paying Attention Anymore
It seems only fitting that on this Monday, the day before an important Presidential election, that we should turn our attention to the important issue of property taxes. Don’t you think our property taxes are too high? Don’t you agree with those campaign ads urging you to VOTE NO! on propositions that would hike our … Continue reading “They’re Mad as Hell, And You’re Not Paying Attention Anymore”
Where’s the Money for Energy Entrepreneurs? Our Podcast Previewing the Conference on Clean Energy Has Some Hints
Last week the organizers of the Fourth Conference on Clean Energy, coming up November 18 and 19 at the Hynes Convention Center in Boston, asked me to host a panel discussion on the funding climate for new clean-energy ventures. In a teleconference recorded October 28, I asked four leaders from the local venture capital and … Continue reading “Where’s the Money for Energy Entrepreneurs? Our Podcast Previewing the Conference on Clean Energy Has Some Hints”
Vertex Co-Founder’s Hedge Fund RA Capital Makes Waves in Biotech Industry with Former Harvard Grad Student at Helm
RA Capital Management, like most hedge funds, doesn’t make much noise publicly about its investment activities outside of its regulatory filings. But the word among insiders in the biotech industry is that the Boston hedge fund is piling up more wins than losses with its portfolio of life sciences stocks. As of late last month, … Continue reading “Vertex Co-Founder’s Hedge Fund RA Capital Makes Waves in Biotech Industry with Former Harvard Grad Student at Helm”
Look Inside This Body: The Greater Seattle Ultrasound Cluster
When you see doctors scrambling to save someone in a TV melodrama like “ER” or “Grey’s Anatomy,” there’s a good chance one of their key gadgets came from a real-life crew of engineers in the Seattle area. This region has played a central role in making ultrasound technology one of medicine’s most fundamental tools for … Continue reading “Look Inside This Body: The Greater Seattle Ultrasound Cluster”
Brightcove Bonds With AOL, Faces Competition With Akamai; Fidelity Backs EnVivo; Dyax to Sell Up To $50M in Stock; & More Boston-Area Deals News
If you’re like me, you’re to the point where you can’t focus for more than two sentences without pausing to check FiveThirtyEight.com and Intrade, so I kept the roundup of Boston-area deals short this week. —Battery Ventures of Waltham, MA, led a $17 million Series B round for Sunnyvale, CA-based ZeroG Wireless, a developer of … Continue reading “Brightcove Bonds With AOL, Faces Competition With Akamai; Fidelity Backs EnVivo; Dyax to Sell Up To $50M in Stock; & More Boston-Area Deals News”
CultureMob, Expanding Across the U.S., Says Get Out and Vote, Then Party
Want to find out where the best election parties will be on Tuesday night? Check out CultureMob’s top 10 list for Seattle here. The list includes a big drinkfest, the Stranger’s Election Party at Showbox at the Market downtown, as well as the more serious Election Night Special at Town Hall Seattle, complete with political … Continue reading “CultureMob, Expanding Across the U.S., Says Get Out and Vote, Then Party”
Vertex Drug for Hepatitis C Shows Durable Virus-Killing Ability in Tough-to-Treat Patients
More data is rolling in from Vertex Pharmaceuticals on its lead drug for hepatitis C, and it looks like the medicine is continuing to live up to its own high expectations. The Cambridge, MA-based company said today that telaprevir’s effect on killing the virus is remaining durable on follow-up analysis, and the drug appears to … Continue reading “Vertex Drug for Hepatitis C Shows Durable Virus-Killing Ability in Tough-to-Treat Patients”
Anadys Drug Found Safe in Small Study, Aims to Contend in New Class of Hepatitis C Meds
Anadys Pharmaceuticals may not be first in a new class of emerging drugs for hepatitis C, but it’s aiming to show this weekend it’s a contender. The San Diego-based company is reporting today that its lead drug candidate was found safe at a variety of doses in a clinical trial of 48 healthy volunteers, and … Continue reading “Anadys Drug Found Safe in Small Study, Aims to Contend in New Class of Hepatitis C Meds”
MediQuest Fails to Win FDA Approval for Raynaud’s Drug
MediQuest Therapeutics, a Bothell, WA-based developer of a drug for Raynaud’s disease, said the FDA has turned down its application to market the product in the U.S. The FDA said the company’s application to market Vascana, a squeeze-on gel to improve blood circulation in the hands and feet, “could not be approved in its present … Continue reading “MediQuest Fails to Win FDA Approval for Raynaud’s Drug”
Fidelity Biosciences Pumps $65M into EnVivo Pharma
Fidelity Biosciences has invested $65 million in EnVivo Pharmaceuticals, a Watertown, MA-based developer of drugs for Alzheimer’s and schizophrenia, in a Series D venture financing round, according to this report on Fierce Biotech from Dow Jones VentureWire. The Boston-based fund bought out all of the company’s other investors, including BCM Technologies, Cogene Ventures, and NeuroVentures … Continue reading “Fidelity Biosciences Pumps $65M into EnVivo Pharma”
Democratic Party Fundraiser Dies, After Friends and Family Pushed To Get Him Tysabri
Fred Baron, the prominent Democratic Party fundraiser, died Thursday after a high-profile effort to obtain Biogen Idec and Elan’s natalizumab (Tysabri) to save his life from an aggressive cancer, according to this report from the Associated Press. Baron, 61, received help more than two weeks ago from a group of friends including former President Bill … Continue reading “Democratic Party Fundraiser Dies, After Friends and Family Pushed To Get Him Tysabri”
San Diego and von Liebig Center Award First Grants Under New Cleantech Initiative
San Diego has been looking into the expanding pool of renewable “cleantech” technologies and trying to see a reflection of itself. To make that vision a reality, city and economic development officials embarked last year on an initiative intended to promote cleantech in this sun-drenched land. The initiative began with a study that found 148 cleantech companies in the region, the beginnings … Continue reading “San Diego and von Liebig Center Award First Grants Under New Cleantech Initiative”
Supporter of Seattle Startups Raises $800K for “Social Analytics,” Wants To Improve Your Website
One of the most influential people in the Seattle tech-innovation scene doesn’t even live in the area. He’s Neil Patel, and if you’re in the Web analytics or Internet marketing business, you already know who he is. That’s because Patel has done marketing and search engine optimization for everyone from giants like General Motors, AOL, … Continue reading “Supporter of Seattle Startups Raises $800K for “Social Analytics,” Wants To Improve Your Website”
Ceregene Awaits Parkinson’s Trial Results, In a Key Test for Gene Therapy
A critical turning point is coming for Ceregene by the end of the year. The San Diego-based biotech company expects to get results in the next couple months on whether its experimental gene therapy can effectively help treat Parkinson’s disease. I got the overview of what this is all about a few weeks ago during … Continue reading “Ceregene Awaits Parkinson’s Trial Results, In a Key Test for Gene Therapy”
In Google Book Search Settlement, Readers Lose
The biggest development in the digital media world this week, by far, was the settlement of a pair of class-action copyright-infringement lawsuits brought against Google in 2005 by the Authors Guild, the Association of American Publishers, and several publishing houses. The compromise agreement, which was announced October 28 and now awaits approval by the federal … Continue reading “In Google Book Search Settlement, Readers Lose”
Kashless No More: Martin Tobias Raises $5M for New Startup
[Updated Oct. 30 with comments from Tobias, who’s surfing in Hawaii (see below)] Although he has been stingy with details about his new startup, Kashless, I figured Seattle entrepreneur Martin Tobias had to have raised some money (he’s been hiring). Yesterday, Dan Primack of PEHub reported that Kashless recently closed a $5 million Series A … Continue reading “Kashless No More: Martin Tobias Raises $5M for New Startup”
Financial Crisis Already Having Moderate Impact on Washington Tech Businesses, Survey Says
Three weeks ago, the Washington Technology Industry Association (WTIA) launched a survey on the effects of the economic downturn on the technology community. The specific goal was to get feedback on how tech businesses are being directly affected by the nation’s financial crisis. Xconomy was the exclusive media partner on the survey; we had early … Continue reading “Financial Crisis Already Having Moderate Impact on Washington Tech Businesses, Survey Says”
Boston-Power Expands Lithium Ion R&D Lab, Sets Eyes on Batteries for Transportation
Boston-Power, which makes advanced lithium-ion battery packs for notebook computers, is planning a ribbon-cutting ceremony today for its newly expanded research and development facilities in Westborough, MA. I caught up with CEO Christina Lampe-Onnerud by phone this morning as she prepared for the event, where a number of local business leaders and state officials plan … Continue reading “Boston-Power Expands Lithium Ion R&D Lab, Sets Eyes on Batteries for Transportation”
Can The Echo Nest Stay Aloft in the Turbulent Music-Recommendation Industry?
As I walked through a windy, chilly Somerville on my way to visit music-discovery startup The Echo Nest yesterday, last weekend’s sudden shutdown at Matchmine weighed on my mind. After all, The Echo Nest is in the same general business as the now-defunct Needham, MA, company: building software that helps digital media companies provide Web … Continue reading “Can The Echo Nest Stay Aloft in the Turbulent Music-Recommendation Industry?”
Grim San Diego Panel Urges Venture Community and Entrepreneurs to Get Realistic
The turnout was heavier than expected as the San Diego Venture Group convened its monthly breakfast meeting yesterday for a program on “Company Financing Alternatives in a Challenging Environment.” Coordinators had arranged tables for 300 in the outdoor pavilion at the Hyatt Regency La Jolla. But interest was so high in the topic that several … Continue reading “Grim San Diego Panel Urges Venture Community and Entrepreneurs to Get Realistic”
Alnara Pharmaceuticals Aims to Make Biotech Drugs You Can Swallow, And That Go Right Where They Belong
Despite all the red ink in investors’ portfolios, there is still venture money out there for big ideas. Boston-based Alnara Pharmaceuticals has snapped up $20 million in a first-round financing to support a novel, untested concept. The company wants to show it can develop biotech drugs that can be given in an oral pill, and … Continue reading “Alnara Pharmaceuticals Aims to Make Biotech Drugs You Can Swallow, And That Go Right Where They Belong”
ZymoGenetics Trial Halted, Amgen’s Big New Drug, Spiration Gets FDA Nod, & More Seattle-Area Life Sciences News
Seattle biotech had its usual highlights and lowlights this week. One local company won its first FDA approval, of a minimally invasive device for lung disease. Another regional bellwether had a clinical trial failure that sent its stock down 29 percent in a day. Lots of politicians were showing up on the innovation scene this … Continue reading “ZymoGenetics Trial Halted, Amgen’s Big New Drug, Spiration Gets FDA Nod, & More Seattle-Area Life Sciences News”
Buy-Side Experts See Major Changes Afoot for Biotech Amid Financial Crisis
Unless there are more than seven figures in your personal net worth or you happen to manage a pension fund or the like, there are few chances to glean information from hedge fund managers and other buy-side experts who play the high-risk game of biotech investing. Yet last week one of those rare opportunities presented … Continue reading “Buy-Side Experts See Major Changes Afoot for Biotech Amid Financial Crisis”
Sourcing the Right Crowd
Commercialization is rarely a solitary pursuit; bringing an idea to the world requires a set of diverse skills and knowledge, a proverbial commercialization village. Or a crowd. Enter the power of crowdsourcing. Crowdsourcing refers to aggregating a large number of people to express their opinions or ideas about specific topics—and the term first appeared in … Continue reading “Sourcing the Right Crowd”
Startups Aren’t Dead, Says ClayValet Founder in Wake of Shutdown
You usually only hear about startups when they’re successful, but Seattle-based ClayValet is an exception. Two weeks ago, founder Mikhail Seregine announced that he was shutting down his four-person company, an online shopping service that allowed customers to ask questions about products and get personal recommendations. He followed up this week with a really informative … Continue reading “Startups Aren’t Dead, Says ClayValet Founder in Wake of Shutdown”
Biogen Idec, Elan’s Tysabri Linked to First U.S. Case of Brain Infection
Tysabri has been linked to its first U.S. case of an often-deadly brain infection since it was re-introduced to the domestic market two years ago. Cambridge, MA-based Biogen Idec (NASDAQ: [[ticker:BIIB]]) and its partner Elan said today they have notified regulators that a rare brain infection called PML has been diagnosed in a patient with … Continue reading “Biogen Idec, Elan’s Tysabri Linked to First U.S. Case of Brain Infection”
California Biotech Execs Fear Ban on Same-Sex Marriages Could Give Edge to Bay State
Opponents of a state ballot initiative to ban same-sex marriages in California have found new allies: local biotech executives, who fear that passage of Proposition 8 could send workers in their industry to Massachusetts, according to a story in today’s San Diego Union-Tribune. This perhaps makes Proposition 8 the latest front in the battle between … Continue reading “California Biotech Execs Fear Ban on Same-Sex Marriages Could Give Edge to Bay State”
InEnTec Gets $150M For “Gasification” Plant To Turn Chemical Waste Into Fuel
InEnTec, the Bend, OR-based company that uses a high-heat process to turn chemical waste into renewable fuels, has gotten a $150 million equity commitment from Lakeside Energy to build a commercial plant in Michigan. Lakeside, a Chicago investment firm, is providing the cash along with American Securities, a New York-based private equity company. The money … Continue reading “InEnTec Gets $150M For “Gasification” Plant To Turn Chemical Waste Into Fuel”
Vertex Gears up for Big Liver Disease Conference
Vertex Pharmaceuticals is preparing to unveil some long-awaited data that will show just how well its drug is performing for some of toughest-to-treat hepatitis C patients. I spoke with Vertex’s chief commercial officer, Kurt Graves, to do some pre-game reporting for the American Association for the Study of Liver Disease’s annual meeting October 31 through … Continue reading “Vertex Gears up for Big Liver Disease Conference”
Roam the Web with Your Weblin Avatar
Allegedly, surfing the Web is a leisure activity for a growing number of people. I wouldn’t know—my job as a technology blogger obliges me to surf the Web all day at work, so if I have to use the Web from home, it’s usually because I’m taking care of some task like paying bills, uploading … Continue reading “Roam the Web with Your Weblin Avatar”
Genomatica Brewing a Green Revolution for the Petrochemical Industry
It is hard to decide what to say first about San Diego’s Genomatica. Is it more amazing that Genomatica has genetically engineered microbes to produce mass quantities of butanediol, a hydrocarbon widely used by the petrochemical industry to make plastics, solvents, pharmaceuticals, textiles and automotive components? Or is it more impressive that the laboratory researchers … Continue reading “Genomatica Brewing a Green Revolution for the Petrochemical Industry”
Amgen Scientist, After 13-Year Push, Sees Bone Cancer Work Paying Dividends
Amgen had the worst year in its history in 2007, according to CEO Kevin Sharer. If you’re wondering why the world’s largest biotech company has mounted a comeback this year, one good place to look is in the lab of Bill Dougall, an Amgen scientist in Seattle. He’s been pursuing a bone cancer program for … Continue reading “Amgen Scientist, After 13-Year Push, Sees Bone Cancer Work Paying Dividends”
Sirtris Shifts Focus From Resveratrol, Merck Shifts People From Seattle to Boston, Epix Shifts Into Cost-Saving Mode, & More Boston-Area Life Sciences News
Boston-area life sciences firms were awfully busy last week, particularly the public ones—and it wasn’t even all bad news. —New York-based Antigenics (NASDAQ: [[ticker:AGEN]]), whose operations are based mainly in Lexington, MA, announced that it’s seeking European approval for its vaccine-based treatment for kidney cancer, vitespen (Oncophage). The treatment is so far only approved in … Continue reading “Sirtris Shifts Focus From Resveratrol, Merck Shifts People From Seattle to Boston, Epix Shifts Into Cost-Saving Mode, & More Boston-Area Life Sciences News”
Washington Venture Capitalists Brace for the Worst Between Now and Year’s End
OK, this isn’t all that surprising. In the early days of the fourth quarter of 2008, the majority of Washington state’s venture capitalists see the national economy as the top issue facing their portfolio companies, and they’re predicting lower revenue growth and lower valuations for all companies—and no exits. That’s according to the latest quarterly … Continue reading “Washington Venture Capitalists Brace for the Worst Between Now and Year’s End”
Judy’s Book Relaunched Under “New” Ownership, with Focus on Customer Reviews
When TechCrunch served up a headline yesterday saying Seattle startup Judy’s Book was “Back from the Dead,” I thought there might actually be some news. The same day, John Cook at TechFlash posted a much more informative story about the current state of the online reviews-and-shopping company, which was founded by Andy Sack and Chris … Continue reading “Judy’s Book Relaunched Under “New” Ownership, with Focus on Customer Reviews”
Top 10 Takeaways from the VC Panel at Seattle’s Renewable Energy Finance Forum
This morning, I stopped by the panel on venture capital in cleantech, at the Renewable Energy Finance Forum-West conference at the Grand Hyatt in downtown Seattle. It was moderated by Nancy Floyd of Nth Power and Michael Butler of Seattle-based Cascadia Capital (who’s an Xconomist). The panelists were Raj Atluru of Draper Fisher Jurvetson, Anup … Continue reading “Top 10 Takeaways from the VC Panel at Seattle’s Renewable Energy Finance Forum”
Gov. Gregoire Urges Biotechies to “Stay Focused”; UW Makes its Biotech Business Case, And A Host of Startups Debut
The last time Gov. Chris Gregoire spoke at the Washington Biotechnology and Biomedical Association’s annual meeting, she had to share the stage with Republican challenger Dino Rossi during the election campaign of 2004. This morning, she had the podium to herself, and Gregoire used it tout the region’s expertise in biotech and its potential to … Continue reading “Gov. Gregoire Urges Biotechies to “Stay Focused”; UW Makes its Biotech Business Case, And A Host of Startups Debut”
San Diego’s Startups Benefit From Aerie of Angels
After seeing two San Diego startups get crucial, early stage funding this month from members of Southern California’s Tech Coast Angels, I arranged to have coffee with their archangel, Michael Elconin. Elconin, who is about halfway through his two-year term as president, was among the 30 or 40 members of San Diego’s erstwhile “Band of … Continue reading “San Diego’s Startups Benefit From Aerie of Angels”
Microsoft, Akamai Partner on “Smooth HD” Video; Alternative to Brightcove
So, are Akamai and Brightcove—digital media companies located just a block apart in Cambridge’s Kendall Square—partners, rivals, or both? The confusion grew today as Akamai said in a joint announcement with Microsoft that it will supply the network infrastructure behind a new “adaptive” system that streams high-definition video over the Internet at varying resolutions depending … Continue reading “Microsoft, Akamai Partner on “Smooth HD” Video; Alternative to Brightcove”
PopCap Launches Casual Game With a Twist, Wants To Make Everyone a Gamer
I’m not really a Frank Gehry fan, but I have to say the Gehry-designed Experience Music Project at Seattle Center was the perfect venue for PopCap’s gala last night. The Seattle-based casual game maker was celebrating its new release in its bestselling “Bejeweled” series—Bejeweled Twist—and it pulled out all the stops. If the quality of … Continue reading “PopCap Launches Casual Game With a Twist, Wants To Make Everyone a Gamer”
Matchmine CEO Comments on Shutdown—Company Was “Collateral Damage” of Financial Crisis
After publishing my report last night about the death of Needham, MA-based Matchmine, I wrote to CEO Mike Troiano, whom I’ve interviewed a couple of times over the past year, seeking his comments about the sudden shutdown, which he announced yesterday in the company’s blog. Troiano wrote back this morning. He explains that Matchmine—which had … Continue reading “Matchmine CEO Comments on Shutdown—Company Was “Collateral Damage” of Financial Crisis”