MPM Capital has grown into such a colossal healthcare venture fund, it makes people who follow the industry (like me) wonder whether it can stay true to its roots. The fund, with $2.5 billion under management, has a tradition of making seed-stage bets in startup biotech companies, including winners like Cambridge, MA-based Idenix (NASDAQ: [[ticker:IDIX]]). … Continue reading “MPM Capital, World’s Biggest Healthcare VC Fund, Balances Startups With Stocks”
Category: National
Jeff Bezos Helps You Find a Doc, Oberon Goes to China, Imperium Gets Investment, & More Seattle-Area Deals News
Heading into the baseball battles of October (go Red Sox), the dealflow is really picking up. In the past week, the Northwest has seen deals in gaming, mobile software, healthcare, genomics, and biofuels. —Oberon Media, a maker of casual games and gaming platforms that is based in New York but has a publishing arm in … Continue reading “Jeff Bezos Helps You Find a Doc, Oberon Goes to China, Imperium Gets Investment, & More Seattle-Area Deals News”
A Clear Choice on Science, Technology, and Innovation
Washington’s economy is one of the most technology-intensive in the nation. Software. Precision agriculture. Aerospace. Biomedicine. E-tailing. New media. Alternative energy. Public and private research institutions. Even narrowly defined, the technology sector is responsible, directly or indirectly, for nearly 50 percent of the jobs in Washington. East to west, north to south, we are driven … Continue reading “A Clear Choice on Science, Technology, and Innovation”
Mozy Launches Business Version of Mac Backup Service
Back in May I wrote about the release of MozyHome for Mac, an Apple-compatible version of the Mozy online backup service that Berkeley Data Systems launched for Windows users in 2006. Between them, Mozy (which became part of Hopkinton, MA-based EMC last fall) and Boston-based Carbonite dominate the market for online backup—but for the moment, … Continue reading “Mozy Launches Business Version of Mac Backup Service”
Oberon, Maker of Casual Games and Platforms, Scores $20M Investment, Chinese Partnership
Things are really heating up in the casual games business. Today, Hong Kong-based Infinity Equity announced it has invested $20 million in Oberon Media, a major developer of casual games and gaming platforms. Oberon is based in New York, but has a publishing office in Seattle called I-Play. The news comes on the heels of … Continue reading “Oberon, Maker of Casual Games and Platforms, Scores $20M Investment, Chinese Partnership”
Washington and Oregon Could Lead the U.S. in Cleantech Under New Policies, Report Says
The Pacific Northwest could potentially be the first region in the United States to achieve 75 percent of its electricity supply from carbon-free sources like hydropower and renewables. But that will require a dedicated new effort in cleantech policy and investment which, if successful, could create 41,000 to 63,000 new jobs in Washington and Oregon … Continue reading “Washington and Oregon Could Lead the U.S. in Cleantech Under New Policies, Report Says”
Sprint’s XOHM WiMax Network Working in Boston?
Sprint Nextel, which is spending billions to blanket major U.S. cities with super-high-speed wireless networks based on the new WiMax standard, turned on its first city—Baltimore—last week. Now there’s a report from the blogosphere that Sprint’s so-called XOHM network is up and running—though not officially launched or supported—in six additional locales, including Boston. The automotive … Continue reading “Sprint’s XOHM WiMax Network Working in Boston?”
CombinatoRx Reckoning Arrives: Stock Crashes on Failed Arthritis Trial
Judgment day was harsh for CombinatoRx. The Cambridge, MA-based company reported this morning that its experimental arthritis drug, Synavive, failed in a mid-stage clinical trial for patients with osteoarthritis of the knees. The company’s stock crashed 72 percent. The drug didn’t show a statistically significant improvement over a placebo when 279 patients were asked about … Continue reading “CombinatoRx Reckoning Arrives: Stock Crashes on Failed Arthritis Trial”
Dendreon Stock Booms As Provenge Shows Promise in Pivotal Trial
Dendreon’s stock rocketed up 33 percent today on good news for its Provenge treatment for prostate cancer. The Seattle biotech company (NASDAQ: [[ticker:DNDN]]) said today that an independent board of trial monitors reported that patients on Provenge have a 20 percent lower risk of death than those on a placebo in an ongoing trial of … Continue reading “Dendreon Stock Booms As Provenge Shows Promise in Pivotal Trial”
Y Combinator Recombined: Talking with Philadelphia Startup Incubator DreamIt Ventures
Everything is moving faster in the Internet age, it seems—including startup incubators. At incubators that follow the traditional model, like Idealab or Biogen Idec’s Innovation Incubator, young companies get to spend a leisurely year or two getting their first product out the door, while benefiting from the financial and administrative support of a larger parent … Continue reading “Y Combinator Recombined: Talking with Philadelphia Startup Incubator DreamIt Ventures”
San Diego 92037
If it seems as if San Diego sprang to sudden prominence as a global capital for innovation, at least part of the explanation can be found atop the oceanside bluff known as Torrey Pines Mesa. This perch has one of the most prestigious zip codes in the world, 92037, used by the Burnham Institute for … Continue reading “San Diego 92037”
Xconomy Launches in San Diego—One of the World’s Great Innovation Clusters
Just over three months ago, Xconomy took its model of hyperlocal coverage of key innovation clusters—which we launched here in Boston in June 2007—to Seattle. This morning, I am pleased to announce, marks the official debut of Xconomy San Diego. The editor of Xconomy San Diego is Bruce Bigelow, an award-winning business and technology journalist … Continue reading “Xconomy Launches in San Diego—One of the World’s Great Innovation Clusters”
Tips from a Biotech Pioneer: Leroy Hood Reflects on His Career, and Offers Some Advice
I leave students (and even some of my colleagues) with several pieces of advice. First, I stress the importance of a good cross-disciplinary education. Ideally, I suggest a double major with the two fields being orthogonal-say, biology with computer science or applied physics. Some argue that there is insufficient time to learn two fields deeply … Continue reading “Tips from a Biotech Pioneer: Leroy Hood Reflects on His Career, and Offers Some Advice”
RealNetworks Could Be in Real Trouble Over DVD Lawsuit—Consumers Beware
[Addendum, 10/6/08: RealDVD has been offline as of this weekend—the result of a restraining order requested by the Hollywood studios and granted by a federal judge. The RealDVD site says, “Due to recent legal action taken by the Hollywood movie studios against us, RealDVD is temporarily unavailable. Rest assured, we will continue to work diligently … Continue reading “RealNetworks Could Be in Real Trouble Over DVD Lawsuit—Consumers Beware”
Ironwood Attracts $50M, $37M Blows in for Northern Power Systems, Another Contract for IRobot, & More Boston-Area Deals News
The last week saw a variety of deals across innovation industries in New England, but the biggest ones came from biotech and cleantech. —Ironwood Pharmaceuticals raised $50 million from lead investor Morgan Stanley Investment Management and many of the Cambridge, MA-based biotech’s previous investors. Ironwood plans to use the funds in part to advance linaclotide, … Continue reading “Ironwood Attracts $50M, $37M Blows in for Northern Power Systems, Another Contract for IRobot, & More Boston-Area Deals News”
Amylin Resurrects Obesity Drug, in New Combination with Diabetes Drug Symlin
Leptin was hailed as a magic bullet for obesity based on rat studies in the 1990s, and then it failed miserably when Amgen took it into clinical trials. Now Amylin Pharmaceuticals thinks it has found a way to bring leptin back to life as a weight-loss drug, as part of a new combination with Symlin, … Continue reading “Amylin Resurrects Obesity Drug, in New Combination with Diabetes Drug Symlin”
Imperium Renewables Gets New Investment to Settle Debts, Regain Footing
Back in August, we wrote about the ongoing struggles of Imperium Renewables, the Seattle-based biodiesel fuel producer that canceled its $345 million IPO, went through several rounds of layoffs, and lost a key contract with Royal Caribbean. Today, Imperium announced a recapitalization involving its existing investors. The majority of the new investment (the value and … Continue reading “Imperium Renewables Gets New Investment to Settle Debts, Regain Footing”
Microsoft’s Craig Mundie on U.S. Broadband Efforts
Microsoft’s chief strategic thinker, Craig Mundie, believes the United States’ situation with broadband access represents a “total policy failure.” In an interview with the Washington Post, Mundie decries the fact that, by some measures, the U.S. ranks 14th in the world when it comes to rolling out broadband Internet service. He says Internet access in … Continue reading “Microsoft’s Craig Mundie on U.S. Broadband Efforts”
Daily TIPs: Hydrogen Sponge, Coke Contraception, High-Speed Wireless, & More
Millimeter Waves Promise Faster Wireless While fiberoptic cables can carry data at speeds of 10 gigabits per second, or even higher, the fastest wireless communications top out at a few hundred megabits. But engineers at Battelle, an R&D firm in Columbus, OH, have demonstrated a system that transmits at 10 gigs, based on millimeter waves, … Continue reading “Daily TIPs: Hydrogen Sponge, Coke Contraception, High-Speed Wireless, & More”
Dexterra Raises $21.5 Million, Affirms Growing Market for Mobile Business Software
It’s one of the bigger tech funding rounds as of late. And, not too surprisingly, it’s in the mobile sector. Bothell, WA-based Dexterra, a maker of software that helps businesses manage mobile workflow, has announced it has closed a $21.5 million investment round led by New Enterprise Associates, with previous investors Canaan Partners, Intel Capital, … Continue reading “Dexterra Raises $21.5 Million, Affirms Growing Market for Mobile Business Software”
What Financial Crisis? Highland’s 20th Hearkens to Days of the Bubble
A basketball hoop in the Museum of Science lobby, teams of entrepreneurs playing 3 on 3. Boston Celtics cheerleaders rooting them on. A rockin’ band. Shots of blueberry martinis doled out in test tubes. A contortionist—yes, a female contortionist in a skin-tight body suit. Did I just go through a time warp, I wondered? This … Continue reading “What Financial Crisis? Highland’s 20th Hearkens to Days of the Bubble”
Acucela Cuts Staff, Shifting Focus to Development of Eye Disease Drugs
Acucela’s good news wasn’t so good for everybody. Less than a month after it struck a lucrative new partnership with Tokyo-based Otsuka Pharmaceutical to co-develop drugs for eye diseases, the Bothell, WA-based biotech company has cut almost a third of its staff. Acucela cut loose “fewer than 10 employees” from its payroll, out of a … Continue reading “Acucela Cuts Staff, Shifting Focus to Development of Eye Disease Drugs”
Nathan Myhrvold & Co. on Tour as Intellectual Ventures Opens Offices Across Asia
When I visited Nathan Myhrvold in the summertime, he lamented that he wasn’t able to attend the Olympics in Beijing (though he did provide some insight into the physics of ping-pong matches). But this week and next, Myhrvold is taking a grander tour of Asia, as his Bellevue, WA-based invention company, Intellectual Ventures, opens a … Continue reading “Nathan Myhrvold & Co. on Tour as Intellectual Ventures Opens Offices Across Asia”
Four Ways Amazon Could Make Kindle 2.0 a Best Seller
[Addendum, 10/4/08: Boy Genius Report has published pictures from a reader who obtained a Kindle 2. It’s unclear so far which, if any, of the features described in my article below, published 10/3, are included.] I wanted to love the Amazon Kindle. I’ve been a believer in the future of e-books ever since the late … Continue reading “Four Ways Amazon Could Make Kindle 2.0 a Best Seller”
Microsoft Opening Three-Headed Search Technology Center in Europe to Challenge Google
When corporate R&D rains, it pours. On the heels of Intel Research Seattle’s annual open house, an even bigger tech giant across Lake Washington is stirring up some serious action across the pond. Microsoft announced today it is opening a European Search Technology Center, with three main offices in the Paris, London, and Munich areas. … Continue reading “Microsoft Opening Three-Headed Search Technology Center in Europe to Challenge Google”
Daily TIPs: Tree Power, Special Delivery, Dead Zones, & More
Technique Predicts Wi-Fi Dead Zones A graduate student at Rice University has developed a technique to predict holes in a city’s Wi-Fi coverage. Ars Technica reports that Joshua Robinson found that dead zones could be as small as 10 meters in diameter. He also found that adding more access nodes doesn’t necessarily fill in all … Continue reading “Daily TIPs: Tree Power, Special Delivery, Dead Zones, & More”
Rib-X Pharma, and Its Lead Antibiotic, Gear Up for Prime Time
Rib-X Pharmaceuticals is gearing up to reveal mid-stage clinical results for its lead antibiotic that could advance the heavily backed biotech firm to a point at which larger drug companies often want a piece of the action. New Haven, CT-based Rib-X, which has raised $123 million in private capital since it was founded in 2001, … Continue reading “Rib-X Pharma, and Its Lead Antibiotic, Gear Up for Prime Time”
iRobot Wins $3.75M Army Contract to Develop Warrior Robot
Bedford, MA-based iRobot (NASDAQ: [[ticker:IRBT]]) said today that the U.S. Army’s Tank-Automotive Research, Development and Engineering Center (TARDEC) will pay the company $3.75 million to build and deliver two “Warrior 700” robots (pictured here.) The Warrior, which has been under development for more than two years, is designed to serve as the big brother of … Continue reading “iRobot Wins $3.75M Army Contract to Develop Warrior Robot”
Intel’s Global Research Head, Andrew Chien, Sizes Up the State of West Coast Innovation
My last memory of Andrew Chien might be wrestling with him on the living room floor circa 1981. Growing up in Champaign-Urbana, Illinois, his family and mine were friends. Chien grew up to be a professor of computer science at his hometown University of Illinois, then a professor of computer science and engineering at the … Continue reading “Intel’s Global Research Head, Andrew Chien, Sizes Up the State of West Coast Innovation”
ZymoGenetics “Sleeper” Wakes Up, Leroy Hood Unveils New Company, CMC Icos Expands, & More Seattle-Area Life Sciences News
Quote of the week in Seattle life sciences goes to Xconomist Clay Siegall: “For biotechnology, it sometimes feels as if we are always in a financial crisis,” he says. While the world faced the possibility of economic catastrophe, the headlines from Seattle biotech suggest it wasn’t all that unusual of a week, as companies continued … Continue reading “ZymoGenetics “Sleeper” Wakes Up, Leroy Hood Unveils New Company, CMC Icos Expands, & More Seattle-Area Life Sciences News”
Locale App for Android Phones “Wouldn’t Even Be Possible on the iPhone,” Says Winner of $275K Developer Challenge
Last week’s unveiling of the first phone running the Android operating system—the T-Mobile G1, which will be available to consumers on October 22—suddenly made Google’s vision of an open source smart-phone platform to compete with Apple’s iPhone seem much more real. But developers writing applications for Android phones have been immersed in the new operating … Continue reading “Locale App for Android Phones “Wouldn’t Even Be Possible on the iPhone,” Says Winner of $275K Developer Challenge”
RealNetworks Vs. Hollywood: Let the DVD Lawsuits Begin
Digital rights management, here we go again. First, it was the music industry. Now Seattle-based RealNetworks and Hollywood’s big movie studios are suing one another in California federal court, after yesterday’s release of RealDVD on RealNetworks’ site. The software, which costs $30, allows DVD users to make copies of their videos on their computer and … Continue reading “RealNetworks Vs. Hollywood: Let the DVD Lawsuits Begin”
Daily TIPs: Greener Buildings, Faster Flu Tests, Deadly Voting, & More
DOE Plan Would Cut Emissions from Buildings The U.S. Department of Energy says that, with proper building techniques and renewable energy installations, a majority of commercial buildings could reach zero emissions of greenhouse gases within 20 years. Now the DOE is kicking in $15 million to give companies access to its scientists and engineers to … Continue reading “Daily TIPs: Greener Buildings, Faster Flu Tests, Deadly Voting, & More”
Link Makes $40M Connection, Concert and Indevus Launch Clinicals, Genzyme’s Big Cholesterol Strategy, & More Boston-Area Life Sciences News
Hats off to Link Medicine, whose $40 million financing was a nice reminder that the economy still has a pulse. That, and the rest of the week’s Boston-area life sciences news, below. —In case you missed our forum, How to Build a Life Sciences Company, Ryan did a great round up of the varied and … Continue reading “Link Makes $40M Connection, Concert and Indevus Launch Clinicals, Genzyme’s Big Cholesterol Strategy, & More Boston-Area Life Sciences News”
Alnylam Hires Chief Scientist, Jack Schmidt, To Help Build RNAi Pipeline
Alnylam Pharmaceuticals has been getting by for years without a full-time chief scientific officer, but no more. The Cambridge, MA-based developer of drugs based on RNA interference (RNAi) technology said today it has hired Jack Schmidt, a former vice president at French drugmaker Sanofi-Aventis and a member of the global discovery leadership team there, to … Continue reading “Alnylam Hires Chief Scientist, Jack Schmidt, To Help Build RNAi Pipeline”
Brain Cancer Breakthroughs Wanted: Swedish and ISB Pool Resources To Spot Disease Early
The Swedish Neuroscience Institute has pieces of brain tumors waiting to be analyzed. The Institute for Systems Biology has computing power and ambitious scientists. Now the two Seattle-based groups are pooling their efforts to see if they can make breakthroughs to detect deadly brain cancers at an earlier, and more treatable, stage. The collaboration is … Continue reading “Brain Cancer Breakthroughs Wanted: Swedish and ISB Pool Resources To Spot Disease Early”
Venture Exits Drop 66 Percent in Third Quarter: Sign of “Nuclear Winter?” To Come
When the tech boom of the 1990s began to evaporate at the end of the last millennium, a handful of VCs-turned-meteorologists predicted the climate was turning into a “nuclear winter” for many startup ventures. Well, it’s getting cold again. Exits by venture-backed companies nationwide declined 66 percent in the third quarter of 2008, according to … Continue reading “Venture Exits Drop 66 Percent in Third Quarter: Sign of “Nuclear Winter?” To Come”
Princeton Undergrad Brings Scavenger-Hunt Startup to Boston
At 10:00 a.m. on Saturday, October 18, 500 couples will fan out across Philadelphia in search of a $25,000 diamond ring hidden by a local jeweler. Equipped only with cell phones, the couples will receive text-message instructions directing them to an array of local landmarks, where they’ll have to complete puzzles and other challenges to … Continue reading “Princeton Undergrad Brings Scavenger-Hunt Startup to Boston”
Director of Intel Research Seattle Focuses on Game-Changing Technologies, Opening New Markets
On a clear day, David Wetherall can see Mount Rainier from his desk. On a clearer day, he can see the future of Intel. OK, maybe that’s a bit of an exaggeration. But Wetherall, the director of Intel Research Seattle, has certainly been charged with leading an exploratory research effort for the chip-making giant—blue-sky, “off-roadmap” … Continue reading “Director of Intel Research Seattle Focuses on Game-Changing Technologies, Opening New Markets”
Link Medicine Raises $40 Million to Counter Neurodegenerative Disease
Link Medicine, a secretive Cambridge, MA, startup that’s spent the last three years investigating new therapies for neurodegenerative diseases like Alzheimer’s, Parkinson’s, Huntington’s, and Amyotrophic Lateral Sclerosis (ALS), said today that it has completed a $40 million Series C venture round. The investment comes from Clarus Ventures, a Cambridge- and San Francisco-based fund focused on … Continue reading “Link Medicine Raises $40 Million to Counter Neurodegenerative Disease”
Heller Ehrman Lays Off 139; Tech Law Firm Is Dissolving
There has been a lot of bad news already this week. Now Xconomy has learned that the global law firm Heller Ehrman has laid off 139 workers in its Seattle office, effective November 28, according to Washington State’s Employment Security Department. This comes on the heels of the news that the company’s partners have voted … Continue reading “Heller Ehrman Lays Off 139; Tech Law Firm Is Dissolving”
What Does the Financial Crisis Mean for Innovation? Xconomists Weigh In
Yesterday was a dark day on Wall Street, and, according to many observers, a dark day for our political system. But what does the financial crisis mean for innovation, and what are the key things that investors, entrepreneurs, and big companies should do or not do during such an upheaval? Xconomy asked this question of … Continue reading “What Does the Financial Crisis Mean for Innovation? Xconomists Weigh In”
Indevus Puts New Acromegaly Treatment Head-to-Head with Novartis Treatment in Phase 3 Trial
Indevus Pharmaceuticals, a Lexington, MA, maker of specialty drugs, says it has launched a Phase 3 clinical trial of an implant designed to provide long-term treatment of patients with acromegaly, a rare and potentially life-threatening condition caused by the overproduction of growth hormone. The company (NASDAQ:[[ticker:IDEV]]) plans to use its patented “hydron polymer technology” in … Continue reading “Indevus Puts New Acromegaly Treatment Head-to-Head with Novartis Treatment in Phase 3 Trial”
Daily TIPs: Stupid Cloud Computing, Lying E-mail, Laughable Politics, & More
Cloud Computing: Stupid or Genius? Richard Stallman, a computing expert and founder of the Free Software Foundation, thinks that cloud computing—running applications over the Internet using distant machines—is a lot of hype and poses a serious risk to privacy. Others, such as tech publisher Tim O’Reilly, however, acknowledge some challenges but see cloud computing as … Continue reading “Daily TIPs: Stupid Cloud Computing, Lying E-mail, Laughable Politics, & More”
CombinatoRx Judgment Day Coming Soon, Arthritis Drug Results On the Way
CombinatoRx is coming to one of those defining moments where it will either vault into becoming an emerging biotech industry player or it will take a big leap backwards. The Cambridge, MA-based company (NASDAQ: [[ticker:CRXX]]) will find out within the next four weeks whether its experimental combination drug for arthritis is likely to become a … Continue reading “CombinatoRx Judgment Day Coming Soon, Arthritis Drug Results On the Way”
ZymoGenetics “Sleeper” for Hepatitis C Aims to Wipe Out Side Effects of Anti-Viral Therapy
Lots of people on Wall Street are hyped up about new treatments for hepatitis C from Vertex Pharmaceuticals and Schering-Plough. But a little-known drug in development from Seattle-based ZymoGenetics (NASDAQ: [[ticker:ZGEN]]) could steal a bit of thunder, and possibly ride the wave of enthusiasm those companies are creating among doctors and patients. Hepatitis C, a … Continue reading “ZymoGenetics “Sleeper” for Hepatitis C Aims to Wipe Out Side Effects of Anti-Viral Therapy”
Amazon Teams Up With Google, MOD Systems Scores $35M, RescueTime Raises Series A, & More Seattle-Area Deals News
Coming off a turbulent week in the financial markets, there were still plenty of deals getting done in Seattle with software, digital media, and biotechnology companies. —Amazon’s MP3 music store will be pre-loaded onto the G1, the first mobile phone to run Google’s Android operating system. The deal is being viewed as a push by … Continue reading “Amazon Teams Up With Google, MOD Systems Scores $35M, RescueTime Raises Series A, & More Seattle-Area Deals News”
LuckyCal, Winner of Facebook Grant, Makes Your Calendar into a Connector
You get home from a big business trip to San Francisco, you’re talking with a friend from out of town, and you find out that he was just there too. If you’d known, you could have met up! It’s a common scenario—and it shouldn’t happen as often anymore. After all, you probably keep an electronic … Continue reading “LuckyCal, Winner of Facebook Grant, Makes Your Calendar into a Connector”
Second Avenue Partners’ Keith Grinstein Dies at Age 48
Xconomy is sad to report that Keith Grinstein, a major figure in the Seattle-area innovation community, passed away suddenly last night from an apparent heart attack. He was 48. Grinstein was a founding partner in Seattle-based Second Avenue Partners, a venture capital firm that invests in early-stage technology deals. He was also a strategic advisor … Continue reading “Second Avenue Partners’ Keith Grinstein Dies at Age 48”
Daily TIPs: Downtown Farms, Invisible Islands, Water from Air, & More
Doubts Raised About Broadband Competition The Federal Communications Commission is in the midst of figuring out how to allocate spectrum for wireless broadband transmissions, while Google and M2Z Networks push for regulations to allow an alternative broadband service. A columnist at GigaOm argues that indecisiveness at the FCC could wind up delaying any competition, which … Continue reading “Daily TIPs: Downtown Farms, Invisible Islands, Water from Air, & More”