Category: Seattle

SeaGen Passes FDA Panel, Ken Stuart’s Journey to Seattle Biomed, the Latest M&A Obsession, & More Seattle-Area Life Sciences News

This was the week Seattle Genetics passed an important milestone on its way to bringing its first product to the U.S. market. —Seattle Genetics (NASDAQ: [[ticker:SGEN]]) won unanimous endorsement from an FDA advisory panel for its new drug for rare lymphomas, brentuximab vedotin (Adcetris). The FDA’s committee of cancer drug experts voted 10-0 in favor … Continue reading “SeaGen Passes FDA Panel, Ken Stuart’s Journey to Seattle Biomed, the Latest M&A Obsession, & More Seattle-Area Life Sciences News”

Bag Borrow or Steal Lands $4,000,000 New Funding

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=ef3bfa62-2762-44e8-a842-d3e421aa7933&Preview=1 Date 7/21/2011 Company Name Bag Borrow or Steal Mailing Address 1118 Post Avenue Seattle, WA 98101 Company Description The company operates as an online retailer of hand bags and jewelry. Website http://www.bagborroworsteal.com Transaction Type Venture Equity Transaction Amount $4,000,000 Transaction Round Undisclosed Proceeds Purposes The capital will be used to accelerate … Continue reading “Bag Borrow or Steal Lands $4,000,000 New Funding”

Flux Drive Receives $1,500,000 New Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=a7e742d1-4999-419b-a0da-1674ca3cfe55&Preview=1 Date 7/21/2011 Company Name Flux Drive Mailing Address 14209 29th Street East Sumner, WA 98390 Company Description Founded in 2003, Flux Drive has focused its development effort on building an alternative to the electrical variable frequency drive (VFD). Specifically, the founders wanted to solve vibration and reduce the peripheral cost associated … Continue reading “Flux Drive Receives $1,500,000 New Round”

Concur Invests $5M in Yapta

Seattle-based Yapta, an online airfare and hotel rate tracking service, has a new partner: Concur (NASDAQ:[[ticker:CNQR]]), the online expense and travel management service for businesses, is making a $5 million strategic investment. The deal includes Concur using Yapta’s price tools for its TripIt Pro service, which helps business travelers manage their itineraries. Concur bought TripIt … Continue reading “Concur Invests $5M in Yapta”

Zillow Stock Climbs 79 Percent in Action-Packed First Day of Trading

Zillow’s stock ended a roller coaster ride of trading on Wednesday, its first day as a public company. The Seattle-based online real estate listing company’s stock traded as low as $32.50 and as high as $60, but ultimately posted a 79 percent gain, finishing the day at $35.77. Zillow (NASDAQ: [[ticker:Z]]), by pricing its shares … Continue reading “Zillow Stock Climbs 79 Percent in Action-Packed First Day of Trading”

How a VC-Style Investment System Can Support a More Just and Humane World

If you were to look under the hood of any big-name IPO these days – such as LinkedIn, Pandora, and someday, Facebook – you’d see a highly sophisticated coordination of capital sources that fueled each to that highly coveted spot: Seed or “Angel” money that got the idea off the ground was followed by early-stage … Continue reading “How a VC-Style Investment System Can Support a More Just and Humane World”

VC Dollars Rise Above Pre-Recession Level in MoneyTree’s Second-Quarter Survey

Venture capital activity improved slightly year-over-year, with a total of $7.5 billion invested in 966 new companies nationwide during the quarter that ended June 30th, according to the MoneyTree Report released today. Investment levels represented the highest quarterly total since the pre-recessionary second quarter of 2008, according the report, which is prepared by the National … Continue reading “VC Dollars Rise Above Pre-Recession Level in MoneyTree’s Second-Quarter Survey”

Ken Stuart, the Working Class Kid Who Built a Global Health Hotspot at Seattle Biomed

One of Seattle’s leading scientific entrepreneurs grew up in a working-class home in which neither parent went to college. Ken Stuart‘s family didn’t have enough money to send him to one of the many universities in his hometown of Boston. When he graduated high school, he had no idea what would come next. “I wasn’t … Continue reading “Ken Stuart, the Working Class Kid Who Built a Global Health Hotspot at Seattle Biomed”

Yapta Lands $5,000,000 New Financing Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=3f7d3d27-e8eb-4400-8c64-c2782050db1a&Preview=1 Date 7/20/2011 Company Name Yapta Mailing Address 159 S. Jackson Street Seattle, WA 98104 Company Description Our purpose is to make it easy for you to secure the best airfare deals available on the Web. We do this by giving you a tool to tag the trips you like while shopping … Continue reading “Yapta Lands $5,000,000 New Financing Round”

Zillow Prices IPO at $20, Trading to Start Wednesday

Seattle online real-estate listing company Zillow says it will begin trading on the NASDAQ stock exchange Wednesday at $20, a price higher than its recently revised estimate of $16-$18 per share. That price could value the company at about $540 million. Zillow is selling nearly 3.5 million shares, seeking about $70 million. Nationally, the Zillow … Continue reading “Zillow Prices IPO at $20, Trading to Start Wednesday”

PopCap’s Sale to EA, Intellectual Ventures’ Legal Battle, Frank Artale’s Insights: Your 1-Minute Week in Seattle Tech News

Electronic Arts is betting that the creative minds at Seattle’s PopCap Games can help the console stalwart tackle social network gaming leader Zynga. That’s why EA paid $750 million up front, with incentives to add another $550 million, to acquire the 9-year-old casual game company last week. The deal had been rumored for a few … Continue reading “PopCap’s Sale to EA, Intellectual Ventures’ Legal Battle, Frank Artale’s Insights: Your 1-Minute Week in Seattle Tech News”

Winshuttle Acquires ShareVis

Bothell, WA-based business software company Winshuttle is growing again—this time, it’s acquired privately held ShareVis, based in Carlsbad, CA. Terms weren’t disclosed. Winshuttle makes software that lets companies “shuttle” huge reams of data between different programs—for instance, bridging the gap between familiar programs like Excel and sophisticated business-management software from German software giant SAP. ShareVis does … Continue reading “Winshuttle Acquires ShareVis”

Zillow Garners $69,240,000 New Financing

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=b5a83600-0774-4eb3-80d5-cb7a68ab27a4&Preview=1 Date 7/19/2011 Company Name Zillow Mailing Address 999 3rd Avenue Seattle, WA 98104 Company Description Zillow.com (NASDAQ: Z) is an online real estate service dedicated to helping you get an edge in real estate by providing you with valuable tools and information. Website http://www.zillow.com Transaction Type IPO Transaction Amount $69,240,000 Transaction … Continue reading “Zillow Garners $69,240,000 New Financing”

Stop the M&A Obsession: Biotech Needs More Companies to Stay Independent

Given what investment bankers did to the financial system just a couple years ago, it surprises me how many people still accept what they have to say at face value. But quite a few people in biotech are still lapping up all sorts of short-sighted, destructive advice from the financial powers that be. The latest … Continue reading “Stop the M&A Obsession: Biotech Needs More Companies to Stay Independent”

LetterMPress: An iPad App That Brings New Meaning to Movable Type

If you’re a follower of this column, you know that I write a lot about apps for the iPhone and iPad. It’s not just because I’m an Apple fan. It’s also because these revolutionary touchscreen-based devices are attracting some of today’s most creative developers, who are writing software unlike anything we’ve ever seen on other … Continue reading “LetterMPress: An iPad App That Brings New Meaning to Movable Type”

3 Big Ideas from Frank Artale: Seattle’s Startup Ecosystem, VC Ground Rules, & the New Inflection Point

One of the newer venture capitalists plying his trade in Seattle isn’t really all that new. How’s that? I’m talking about Frank Artale, who joined Ignition Partners earlier this year as a managing director. Artale’s a pretty familiar face around the Puget Sound region, having worked at Microsoft (NASDAQ: [[ticker:MSFT]]) for nearly a decade—he was … Continue reading “3 Big Ideas from Frank Artale: Seattle’s Startup Ecosystem, VC Ground Rules, & the New Inflection Point”

Microsoft President Qi Lu on Web Strategy in a Brave New Digital Society: The Video

Attention, techies. Want a deep dive into the future of the Web, search, and online services? Then sit down with Qi Lu, the president of Microsoft’s online services division, if you ever get an opportunity. In the meantime, you can check out this video from Lu’s talk at Microsoft New England Research & Development Center … Continue reading “Microsoft President Qi Lu on Web Strategy in a Brave New Digital Society: The Video”

Seattle Deal Roundup: Livemocha, TTM, RootMetrics Raise Money

We’ve got a trio of quick Seattle-area technology fundraising items today, fresh from the SEC filings. Livemocha reports that it has raised about $5 million in a Series C round, which appears like it could grow to the $7.5 million range with warrants and options. I tried to get more details on that aspect from … Continue reading “Seattle Deal Roundup: Livemocha, TTM, RootMetrics Raise Money”

Seattle Genetics Lymphoma Drug Gets Second Green Light from FDA Panel

Seattle Genetics batted a clean 2-for-2 today in its appearances in front of an FDA advisory committee. The FDA’s Oncologic Drugs Advisory Committee voted 10-0 to recommend that Seattle Genetics’ brentuximab vedotin (Adcetris), be cleared for sale as a new treatment in the U.S. for anaplastic large cell lymphoma. That decisive vote came after a … Continue reading “Seattle Genetics Lymphoma Drug Gets Second Green Light from FDA Panel”

Seattle Genetics Wins Unanimous OK for Lymphoma Drug from FDA Panel

Seattle Genetics (NASDAQ: [[ticker:SGEN]]) passed its first big test with an FDA advisory panel today with flying colors. An FDA panel of cancer drug experts recommended in a 10-0 vote that the company’s drug for Hodgkin’s lymphoma should be cleared for sale in the U.S. The vote came this morning by the FDA’s Oncologic Drugs … Continue reading “Seattle Genetics Wins Unanimous OK for Lymphoma Drug from FDA Panel”

Seattle’s Ground Truth Merges with Boston’s Umber Systems to Become NYC-Based Mobile Intelligence Solutions

Consumers who gobble up smartphones and tablets are getting revolutionary tools for work and play. An ever-growing forest of app developers is targeting the devices as a juicy new business platform. But for mobile carriers and marketing pros, it’s all about the data—who’s consuming the bandwidth, what they’re doing online, and what else they might … Continue reading “Seattle’s Ground Truth Merges with Boston’s Umber Systems to Become NYC-Based Mobile Intelligence Solutions”

Institutes Of Medicine Pain Report May Aid Medical Device Makers

When the Institute of Medicine (IOM) released its report on chronic pain late last month, medical device makers cheered. “A landmark report,” a Boston Scientific press release gushed. “Chronic pain is a major public health issue, and we applaud Congress [and] the IOM…for their thoughtful recommendations,” Medtronic senior vice president Tom Tefft said in a … Continue reading “Institutes Of Medicine Pain Report May Aid Medical Device Makers”

Hidden Gems Are Inside UW Computer Science & Engineering. Can They Be Mined?

Although an attentive observer can see a steady stream of news articles from UW Computer Science & Engineering, with more than 40 faculty members and 750 students, there is more going on than is reported. When I was given an opportunity to occupy an office inside the Paul G. Allen Center, I was excited to … Continue reading “Hidden Gems Are Inside UW Computer Science & Engineering. Can They Be Mined?”

SeaGen’s Big Day at the FDA, Hutch Nabs $20M HIV Grant, Allozyne’s Nasdaq Plan, & More Seattle-Area Life Sciences News

This week, all eyes in Seattle biotech are on Seattle Genetics. If you don’t know why, here’s a chance to catch up. If nothing else, this will provide plenty of fodder for conversation at today’s WBBA Summer Social, which I plan to attend this afternoon. —Seattle Genetics (NASDAQ: [[ticker:SGEN]]) is making its case today in … Continue reading “SeaGen’s Big Day at the FDA, Hutch Nabs $20M HIV Grant, Allozyne’s Nasdaq Plan, & More Seattle-Area Life Sciences News”

Second-Quarter VC Activity: Wish They All Could Be California Deals

Venture capital activity that surged during the first three months of 2011 continued to rise through the second quarter, as funding for Internet startups soared by 69 percent over the same quarter last year, according to CB Insights, a New York information and data services firm. In its quarterly venture capital activity report, CB Insights … Continue reading “Second-Quarter VC Activity: Wish They All Could Be California Deals”

Mobile Intelligence Solutions Lands $8,000,000 New Financing

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=2c46e837-819c-4170-93de-606163332b72&Preview=1 Date 7/14/2011 Company Name Mobile Intelligence Solutions Mailing Address 999 3rd Ave. Seattle, WA 98104 Company Description Mobile Intelligence Solutions is a mobile analytics and measurement provider that delivers the precise, timely and actionable mobile insight required for carriers, advertisers and publishers to measure, optimize and grow their businesses. Website http://www.mobileintelligencesolutions.com … Continue reading “Mobile Intelligence Solutions Lands $8,000,000 New Financing”

Root Metrics Obtains $1,000,000 New Financing

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=ba9d676b-a529-42dc-a725-189ab6bae74e&Preview=1 Date 7/14/2011 Company Name Root Metrics Mailing Address 11000 NE 33rd Place Bellevue, WA 98004 Company Description We’re an independent, privately funded service that provides the most accurate data on mobile network performance, from mobile users in real-world conditions. We provide performance data to consumers and to the carrier industry. Website … Continue reading “Root Metrics Obtains $1,000,000 New Financing”

Telecom Transport Management Receives $4,000,000 New Financing Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=14deb912-1242-4eed-8f37-34e477fe9927&Preview=1 Date 7/14/2011 Company Name Telecom Transport Management Mailing Address 146 N. Canal St Seattle, WA 98103 Company Description TTM offers a best-in-class combination of network quality, surveillance, and price, using a combination of owned and leased radio and landline-based technologies. TTM adds value to its customers’ operations by reducing network complexity, … Continue reading “Telecom Transport Management Receives $4,000,000 New Financing Round”

Don’t Believe the Hype: Cleantech Is Creating Jobs Now, And Can Generate Many More

There has been endless hype about the so-called clean economy-from both ends of the spectrum. It has been called both “a compelling aspiration and an enigma” and it has been difficult to assess. Discussion has frequently been short on facts and long on anecdotes, speculation, assertion, and partisanship. This is due, in no small part, … Continue reading “Don’t Believe the Hype: Cleantech Is Creating Jobs Now, And Can Generate Many More”

Andy Sack on Lighter Capital: Expanding Beyond RevenueLoan to Finance More “Weird Stuff that Makes Money”

Premium goat-milk ice cream. Bouncy-house rentals for kids’ parties. Electronic medical records for psychiatrists. None of these sound like your textbook target for early stage investors, who are often found hunting consumer tech startups that can turn into billion-dollar home runs. For ubiquitous Seattle investor and entrepreneur Andy Sack, that’s precisely the point. Those three … Continue reading “Andy Sack on Lighter Capital: Expanding Beyond RevenueLoan to Finance More “Weird Stuff that Makes Money””

Allozyne Looks to Rustle Up Interest on Wall Street With Backdoor IPO

Any company that aspires to get a listing on the stock market had better be ready for marathon hours with investors, accountants, and lawyers. But there’s a special thicket of challenges to work through when you’re introducing yourself to the NASDAQ the way Seattle-based Allozyne is. The privately-held biotech company is taking the backdoor route … Continue reading “Allozyne Looks to Rustle Up Interest on Wall Street With Backdoor IPO”

Lockerz Acquires AddToAny

Seattle social networking startup Lockerz has acquired AddToAny, a software company that provides “share” buttons on websites. Terms were not disclosed. Lockerz, led by Amazon.com veteran Kathy Savitt, is positioning itself as a kind of younger alternative to Facebook. It’s organized around “PTZ,” a system of points that users gather by doing regular social functions … Continue reading “Lockerz Acquires AddToAny”

Swype Adds $6M

Seattle mobile-startup Swype, which makes input software for mobile devices, has closed a $6 million Series C financing round led by Ignition Partners and previous investors Samsung Ventures, Nokia Growth Partners, Benaroya Capital, Docomo Capital. Swype’s main product allows people using touchscreen devices like smartphones enter text by sliding their finger across the virtual keyboard, … Continue reading “Swype Adds $6M”

Insider Trader Pleads Guilty in SeaGen Case

Zishen Fan, of Chino Hills, CA, pleaded guilty today in U.S. District Court in Seattle to charges that he traded on insider information on Seattle Genetics (NASDAQ: [[ticker:SGEN]]) in 2010, according to a statement from the U.S. Attorney’s Office for Western Washington. Fan’s brother, Zizhong “James” Fan, now deceased, was at the time a manager … Continue reading “Insider Trader Pleads Guilty in SeaGen Case”

EA Buys PopCap Games for up to $1.3B, Says Seattle Company Will Keep Doing its Thing

[Updated at 3:40 pm] Never mind about that IPO. Electronic Arts announced today that it’s buying Seattle casual gaming company PopCap Games in a deal that could be worth up to $1.3 billion. The initial price is $650 million in cash and $100 million in EA (NASDAQ: [[ticker:ERTS]]) stock, with later performance-based payouts that could … Continue reading “EA Buys PopCap Games for up to $1.3B, Says Seattle Company Will Keep Doing its Thing”

Intellectual Ventures Steps Up Legal Battle with Memory Manufacturers, Brings H-P, Best Buy & Others Along for the Fight

[Updated at 2:30 pm with details of ITC complaint] Now it’s really getting serious. Intellectual Ventures, the Bellevue, WA-based intellectual property and invention firm, is stepping up its fight against a pair of Asian memory manufacturers with a complaint to the International Trade Commission seeking to block the companies’ products from being imported to the … Continue reading “Intellectual Ventures Steps Up Legal Battle with Memory Manufacturers, Brings H-P, Best Buy & Others Along for the Fight”

Seattle Genetics’ New ‘Empowered Antibody’ Looks Clean in FDA Staff Documents

The FDA staff has been known to dish out some unhappy surprises in briefing documents ahead of FDA advisory committees, and to make withering comments about the inadequacy of new drugs, but there wasn’t really any of that in this morning’s analysis of a new drug application from Seattle Genetics (NASDAQ: [[ticker:SGEN]]). The FDA staff … Continue reading “Seattle Genetics’ New ‘Empowered Antibody’ Looks Clean in FDA Staff Documents”

There is a New Clinical Trial of a Novel Drug for African Sleeping Sickness. Who Cares?

I do. Millions of Africans do. Two of the world’s wealthiest people do. And against all odds, two U.S. biotech companies do too. The story starts in Africa where about 7,000 new cases of sleeping sickness happen each year. If diseases could be classified as cruel and unusual, sleeping sickness would be at the top … Continue reading “There is a New Clinical Trial of a Novel Drug for African Sleeping Sickness. Who Cares?”

Wag.com, Facebook, Skype, Iota, Moai: The 1-Minute Week in Seattle Tech News

A short holiday week still left us with plenty of good tech news to chew over in the Puget Sound region. Here’s the quick version of the headlines and deep dives from the past seven days here at Xconomy Seattle, from big players and VCs to startups and researchers: —Cue the circa-2000 sock puppet jokes—Amazon.com … Continue reading “Wag.com, Facebook, Skype, Iota, Moai: The 1-Minute Week in Seattle Tech News”

Seattle Genetics’ FDA Panel Preview: What You Need to Know This Week

[Updated: 6:50 am PT] This is the week Seattle Genetics, a 14-year-old company, will have its biggest coming-of-age experience on its way to becoming a real grown-up. The company (NASDAQ: [[ticker:SGEN]]) is getting ready to make its best possible argument for FDA approval of its new “empowered antibody” drug aimed at a pair of rare … Continue reading “Seattle Genetics’ FDA Panel Preview: What You Need to Know This Week”

Swype Receives $2,500,000 Series C Funding

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=04dd3112-3e71-4175-9dd3-d2ce583c73f5&Preview=1 Date 7/12/2011 Company Name Swype Mailing Address 701 North 34th St Seattle, WA 98104 Company Description Swype is a maker of text-input technology for mobile devices. Website http://www.swypeinc.com Transaction Type Venture Equity Transaction Amount $2,500,000 Transaction Round Series C Proceeds Purposes The company will continue to roll out new versions of … Continue reading “Swype Receives $2,500,000 Series C Funding”

Electronic Arts Acquires PopCap Games for $750,000,000

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=8976895a-8487-4458-8af4-beedbc6a6be1&Preview=1 Date 7/12/2011 Company Name PopCap Games Mailing Address 2401 4th Ave Seattle, WA 98121 Company Description Here at PopCap our goal is to create fun games that literally everyone can enjoy. Our games are easy to learn, tough to master…and utterly addictive! Website http://www.popcap.com Transaction Type M&A Transaction Amount $750,000,000 Transaction … Continue reading “Electronic Arts Acquires PopCap Games for $750,000,000”

Startups Making Do with Fewer Workers, Kauffman Study Shows

Has the air gone out of the American economy? That’s the troubling suggestion of a new study showing how, even before the current downturn, fewer new firms were being formed and those that did open for business were hiring fewer workers. Titled “Starting Smaller, Staying Smaller: America’s Slow Leak in Job Creation,” the report looks … Continue reading “Startups Making Do with Fewer Workers, Kauffman Study Shows”

Fewer Funds Raise More Capital as Venture Industry Contracts Around “Brand Name” VCs

The U.S. venture capital industry is raising more capital for fewer funds so far this year, continuing a contraction in the number of venture firms, according to a couple of rival surveys released today. While the $2.7 billion raised by VC firms during the second quarter marked a 28 percent increase over the $2.1 billion … Continue reading “Fewer Funds Raise More Capital as Venture Industry Contracts Around “Brand Name” VCs”