PhysioSonics, a University of Washington spinoff developing ultrasound imaging technology to monitor blood flow in the brain, has raised its second round of equity financing. The deal was led by medical device giant Medtronic (NYSE: [[ticker:MDT]]) and the prominent local investor Kirby Cramer, Xconomy has learned. Brad Harlow, the CEO of Bellevue, WA-based PhysioSonics, says … Continue reading “PhysioSonics, a UW Ultrasound Spinoff, Raises Cash from Medtronic, Kirby Cramer”
Category: Seattle
Seattle Genetics Manager Accused of Insider Trading, Bristol Stays in Seattle, Amgen Buys BioVex, & More Seattle-Area Life Sciences News
We had news galore this week on the Seattle biotech beat, with a mondo acquisition, an accusation of insider trading, and a prominent report pronouncing the U.S. medical device industry in a state of decline. Take a gander at the flurry of headlines here. —Amgen (NASDAQ: [[ticker:AMGN]]), which has significant immunology R&D operations in Seattle, … Continue reading “Seattle Genetics Manager Accused of Insider Trading, Bristol Stays in Seattle, Amgen Buys BioVex, & More Seattle-Area Life Sciences News”
Venture Capital Unplugged: Enrique Godreau, Greg Gottesman, Bill Bryant
The MIT Enterprise Forum of the Northwest is organizing an event on February 3 called “Venture Capital Unplugged.” Enrique Godreau III of Voyager Capital, Greg Gottesman of Madrona Venture Group, and Bill Bryant of Draper Fisher Jurvetson will be on hand to answer questions at an open-mic session. For more information how to register, click … Continue reading “Venture Capital Unplugged: Enrique Godreau, Greg Gottesman, Bill Bryant”
BlueKai Buys TrackSimple
Bellevue, WA-based BlueKai, an online-marketing data company, said today it has acquired TrackSimple, a media analytics startup also based in the Seattle area. Terms of the deal weren’t disclosed, but a recent filing with the SEC suggests the purchase price was about $6.8 million in BlueKai stock. TrackSimple was founded by a pair of ex-Amazon … Continue reading “BlueKai Buys TrackSimple”
Calypso Names New CEO
Calypso Medical Technologies, the Seattle-based maker of a system to pinpoint radiation therapy for prostate cancer, said today that Ed Vertatschitsch has been named the company’s CEO. Vertatschitsch, who joined Calypso in 2003, has been at the helm on an interim basis since August, when former CEO Eric Meier left the company at a time … Continue reading “Calypso Names New CEO”
Computing in the Age of the $1,000 Genome, Coming February 7
If scientists will soon be decoding entire human genomes in an afternoon, for $1,000 or less, how will that change the way we think about health and wellness? What are the business opportunities for companies that figure this out early? How will tech companies handle the gargantuan IT challenges of separating signal from the noise … Continue reading “Computing in the Age of the $1,000 Genome, Coming February 7”
Amgen’s R&D Chief, Roger Perlmutter, on Why BioVex’s Cancer-Fighting Virus Is Worth $1B
Roger Perlmutter, the guy who runs R&D at the largest biotech company in the world, is an immunologist by training. So it shouldn’t be any surprise that he’s fascinated by recent advances in which scientists have shown they can harness the immune system to fight tumors. Now he’s acting on that emerging knowledge of cancer … Continue reading “Amgen’s R&D Chief, Roger Perlmutter, on Why BioVex’s Cancer-Fighting Virus Is Worth $1B”
The New Normal for Biotech Startups
The structural changes roiling the pharmaceutical sector are driving innovation of biotech business models. With shrinking operating margins, patent expirations, a paucity of new product launches, significant reimbursement pressure, and an unpredictable regulatory environment—Big Pharma’s high risk bets on early stage biotechs of the past decade look cavalier through the lens of the current market … Continue reading “The New Normal for Biotech Startups”
Korrio Gets $3.3M Deal Led by Ignition
Seattle-based Korrio, the developer of online technology to help run youth sports leagues, is announcing today it has raised $3.3 million in a Series A investment led by Bellevue, WA-based Ignition Partners. Ignition’s John Connors led the round, and is taking a seat on the Korrio board. He was joined in the deal by Martin … Continue reading “Korrio Gets $3.3M Deal Led by Ignition”
Decide.com Garners $2,500,000 New Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=6b2f9898-360a-4e1e-bd42-74872004e309&Preview=1 Date 1/26/2011 Company Name Decide.com Mailing Address Undisclosed Seattle, WA 98104 Company Description The company is developing a new online shopping service. Website http://www.decide.com Transaction Type Venture Equity Transaction Amount $2,500,000 Transaction Round Undisclosed Proceeds Purposes The $2.5 million round also will be used to launch the initial version of the … Continue reading “Decide.com Garners $2,500,000 New Financing Round”
Crowd Factory Receives $6,500,000 New Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=9f07aa71-d58c-4e9c-8621-86689e0c1614&Preview=1 Date 1/26/2011 Company Name Crowd Factory Mailing Address 333 S. W. 5th Ave Portland, OR 97204 Company Description Traditional media are losing their reach. The emerging social media – online identity, communication, consumer-generated content, and traditional media combine to create compelling experiences for consumers. Social media have surpassed simple trend into … Continue reading “Crowd Factory Receives $6,500,000 New Financing”
Korrio Garners $3,300,000 Series A Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=aa773083-8cad-464c-bdf4-fc6deab5378d&Preview=1 Date 1/26/2011 Company Name Korrio Mailing Address 7818 78th Ave. SE Mercer Island, WA 98040 Company Description The company is using web technology to organize and automate youth sports information and registration. Website http://www.korrio.com Transaction Type Venture Equity Transaction Amount $3,300,000 Transaction Round Series A Proceeds Purposes The financing will help … Continue reading “Korrio Garners $3,300,000 Series A Financing Round”
BlueKai Acquires TrackSimple for Undisclosed Sum
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=44b22c8d-8d5b-458a-8f85-2006d91ab808&Preview=1 Date 1/26/2011 Company Name TrackSimple Mailing Address 558 1st Avenue S Seattle, WA 98104 Company Description Tracksimple Inc. is a developer of a platform that captures customer events. Its technology works from a clients’ perspective, server perspective or both via cookies and/or javascripts tags, aggregating data in near real-time. Website http://www.tracksimple.com … Continue reading “BlueKai Acquires TrackSimple for Undisclosed Sum”
Bristol-Myers Squibb to Stay in Seattle, Keep ZymoGenetics Workers
Pharmaceutical giant Bristol-Myers Squibb scoped out the neighborhood for a couple months, and has decided to put down roots in Seattle. The New York-based pharmaceutical giant (NYSE: [[ticker:BMY]]), which spent $885 million to acquire ZymoGenetics in October, has decided to maintain its presence here, according to Chris Rivera, the president of the Washington Biotechnology & … Continue reading “Bristol-Myers Squibb to Stay in Seattle, Keep ZymoGenetics Workers”
Technology Alliance Innovation Summit: Featuring “Crossing the Chasm” Author Geoffrey Moore
The Technology Alliance is organizing a full day summit on “what really makes innovation economies grow” on March 18 at Microsoft’s campus in Redmond. Geoffrey Moore, the author of “Crossing the Chasm,” will be one of the featured speakers, along with Washington Attorney General Rob McKenna, Verdiem CEO Jeremy Jaech, University of Washington computer science … Continue reading “Technology Alliance Innovation Summit: Featuring “Crossing the Chasm” Author Geoffrey Moore”
Seattle BioMed Passport to Global Health Celebration
Seattle Biomedical Research Institute is planning its annual “Passport to Global Health Celebration” for the evening of June 13th at the Westin Hotel in Seattle. For more information about the event, click here.
Elemental Gets Citrix Investment, New Board Member
Portland, OR-based Elemental Technologies, a video processing startup, said today it has received a strategic investment from Citrix Systems (NASDAQ: [[ticker:CTXS]]) and has added Kevin O’Hara to its board of directors. O’Hara is the former president and co-founder of Level 3 Communications (NASDAQ: [[ticker:LVLT]]) and the co-founder and executive chairman of Troppus Software. The amount … Continue reading “Elemental Gets Citrix Investment, New Board Member”
PerkinElmer Licenses Geospiza Software
Geospiza, the Seattle-based maker of software for analyzing genomic data, said today that PerkinElmer (NYSE: [[ticker:PKI]]), the Waltham, MA-based life sciences toolmaker, has taken a multi-year license to Geospiza’s technology. Financial terms of the license weren’t disclosed.
How ZymoGenetics Coulda Been a Contender: The Big Break That Came Too Late
ZymoGenetics, if it had stayed an independent company in Seattle, would be worth tens of millions of dollars more today than what it was in September when it agreed to be acquired by Bristol-Myers Squibb (NYSE: [[ticker:BMY]]). Bristol clearly scored a big break with its new ZymoGenetics assets on December 21, about two months after … Continue reading “How ZymoGenetics Coulda Been a Contender: The Big Break That Came Too Late”
Are Startup-Hungry MIT MBAs Sleepless in Seattle?
One of the most important decisions anyone makes is deciding where to live. Lucky for me, that decision has already been made. Since I’ll be graduating soon with an MBA from the MIT Sloan School of Management, I thought it would be great to head out West to where the software revolution began: the emerald … Continue reading “Are Startup-Hungry MIT MBAs Sleepless in Seattle?”
Elemental Technologies Obtains New Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=f9ae40af-d085-46eb-b2e3-a00461df0872&Preview=1 Date 1/25/2011 Company Name Elemental Technologies Mailing Address 620 SW Fifth Ave. Portland, OR 97204 Company Description Elemental Technologies, headquartered in Portland, Oregon, is the leading provider of massively parallel processing (MPP) solutions, initially targeting video applications. Utilizing general purpose, programmable off the shelf graphics processing units (GPUs), the RapiHD Video … Continue reading “Elemental Technologies Obtains New Financing”
Amgen to Acquire BioVex for Up To $1B, to Obtain Cancer-Killing Virus Therapy
Amgen is sticking its scientific neck out, and potentially $1 billion of its cash, to buy a company in Woburn, MA that hopes to deliver the first FDA-approved virus engineered to specifically kill cancer cells. Thousand Oaks, CA-based Amgen (NASDAQ: [[ticker:AMGN]]) said today it has agreed to pay $425 million upfront, plus another $575 million … Continue reading “Amgen to Acquire BioVex for Up To $1B, to Obtain Cancer-Killing Virus Therapy”
Introducing Tom Lee–He May Need a Nap, But He’s Never Too Tired To Talk About Innovation
Southeast Michigan, please be kind to Tom Lee. Thanks to some lame, opaque rues at an airline which shall remain nameless, the newest addition to the Xconomy team—who starts today as our Detroit editor and national med tech editor—endured a 10 hour drive this weekend instead of the two-hour flight he was expecting. But weary … Continue reading “Introducing Tom Lee–He May Need a Nap, But He’s Never Too Tired To Talk About Innovation”
EcoMotors Founder Peter Hofbauer Says Company Is Inking Customer Deals, Eyeing Production Facility in Michigan for Its “Opoc” Engine
Peter Hofbauer spent nearly a decade in advanced propulsion system research and nearly another decade in power train development at Volkswagen. After creating and developing the automaker’s first diesel engine, he was ready to relax. “In 1997, I moved to Santa Barbara, CA, and my main idea was to retire—and that did not work,” says … Continue reading “EcoMotors Founder Peter Hofbauer Says Company Is Inking Customer Deals, Eyeing Production Facility in Michigan for Its “Opoc” Engine”
Calibra, Inspired by Inventor With Diabetes, Homes in on Cheap, Easy Way to Deliver Insulin
Clif Alferness has made a long and decorated career out of inventing medical devices. But until about five years ago, he never thought seriously about a practical invention for his own illness—Type 1 diabetes. Now, after years in stealth mode, the latest startup he helped launch is on the verge of creating a new category … Continue reading “Calibra, Inspired by Inventor With Diabetes, Homes in on Cheap, Easy Way to Deliver Insulin”
Fourth Quarter Venture Results—Shrinkage Comes in All Forms
The Q4 2010 VC funding data were released late last week—and the headline was quite upbeat. VCs invested $5 billion in 765 deals in this past quarter, which while essentially flat quarter-over-quarter, brought the full year totals to $21.8 billion invested in 3,277 companies. In 2009, VCs put $18.3 billion into 2,927 companies. It’s easy … Continue reading “Fourth Quarter Venture Results—Shrinkage Comes in All Forms”
Northwest Energy Angels Power of Angel Investing Workshop – Due Diligence & Valuation of Early Stage Companies
The NW Energy Angels, in cooperation with other regional angel organizations, is organizing a full-day workshop focused on educating current angel investors and potential new investors on due diligence and valuation of early stage companies. For more information, click here.
SEC Accuses Seattle Genetics Employee of Insider Trading
Seattle Genetics had some great news for shareholders and cancer patients last September, and now federal securities regulators say it was too good for one of the company’s managers and a member of his family. The Securities and Exchange Commission has accused Zizhong (James) Fan, an employee of Seattle Genetics, of tipping off his family … Continue reading “SEC Accuses Seattle Genetics Employee of Insider Trading”
Between a Rock and a Hard Place—JP Morgan Afterthoughts
Yes, the mood has undoubtedly improved in comparison to last year’s gathering of the healthcare investment community around the “old clock” at Union Square in San Francisco. But given the overall depression of last year this was perhaps not all that difficult to achieve. I have mulled over all the conversations I had during the … Continue reading “Between a Rock and a Hard Place—JP Morgan Afterthoughts”
The Age of iPad Superbooks? Not Yet
Jadedness: it’s an occupational hazard in tech journalism. Other people look at new software or gadgets and say “Wow.” I look at them and say “Hmm, needs work.” Last weekend’s New York Times Magazine provided a case in point. Writer Virginia Heffernan reviewed 15-Minute Everyday Pilates, a video e-book from Alameda, CA-based Vook, a publishing … Continue reading “The Age of iPad Superbooks? Not Yet”
Calypso Pulls in $6.4M
Calypso Medical Technologies, the Seattle-based maker of a system to pinpoint radiation therapy for prostate cancer patients, has taken in another $6.4 million through an offering of debt, options, and other securities, according to a regulatory filing. The company last raised $50 million in venture capital in September 2009. Xconomy last wrote about Calypso in … Continue reading “Calypso Pulls in $6.4M”
Venture Capital in the Northwest Still Struggling to Rebound From Downturn
More than a few commentators have referred to the 2000s as a “lost decade” for venture capital. Now that we have closed the book on the past 10 years of venture investments, the numbers show it’s still a pretty discouraging scene out there for venture-backed companies. Venture capitalists invested about $806 million in companies in … Continue reading “Venture Capital in the Northwest Still Struggling to Rebound From Downturn”
Calypso Medical Technologies Receives $6,406,337 New Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=e7052d84-c3fd-4271-ad9c-689a9da230c5&Preview=1 Date 1/21/2011 Company Name Calypso Medical Technologies Mailing Address 4th & Blanchard Building 2101 Fourth Avenue Seattle, WA 98121 Company Description Calypso Medical Technologies, Inc., was founded in 1999 and is a privately held medical device company located in Seattle, Washington. The Company and its employees are dedicated to enabling physicians … Continue reading “Calypso Medical Technologies Receives $6,406,337 New Round”
A Return to Normalcy: MoneyTree Tracks Venture Funding Gains in 2010
Another report on venture investing is being released today, this time showing a decline in fourth-quarter deal activity compared with the same quarter in 2009—albeit a slight uptick from the previous quarter—and a significant overall gain for the entire year. Venture funding during the fourth quarter of 2010 amounted to $5 billion in 765 deals … Continue reading “A Return to Normalcy: MoneyTree Tracks Venture Funding Gains in 2010”
Amazon Buys Lovefilm
Seattle-based Amazon (NASDAQ: [[ticker:AMZN]]) said today it has reached an agreement to acquire Lovefilm International, a European company that sends movies to customers through the mail and through streaming media. Amazon already has a minority ownership stake in the company, which operates in the U.K., Germany, Norway, Sweden, and Denmark. Terms of the acquisition weren’t … Continue reading “Amazon Buys Lovefilm”
Is the U.S. Losing its Medical Device Innovation Mojo? PwC Report Says Yes
The United States has been the undisputed leader in medical device innovation for the past 50 years. But there are some out there who insist that title is in jeopardy. It would certainly take a breathtaking free fall, if you look at the standings today. The U.S. is where most of the R&D gets done, … Continue reading “Is the U.S. Losing its Medical Device Innovation Mojo? PwC Report Says Yes”
Theraclone Nabs Big Pfizer Deal, Dendreon Pockets $540M, Seattle Genetics’ Close-Up, & More Seattle-Area Life Sciences News
One of the Accelerator graduates made news last week (Allozyne) and this week another alumnus from the Seattle biotech startup propeller took its turn making headlines. —Seattle-based Theraclone Sciences (an Accelerator grad) said it has formed an alliance with the world’s largest drugmaker, New York-based Pfizer (NYSE: [[ticker:PFE]]). Pfizer will get access to Theraclone’s antibody … Continue reading “Theraclone Nabs Big Pfizer Deal, Dendreon Pockets $540M, Seattle Genetics’ Close-Up, & More Seattle-Area Life Sciences News”
Coronado Biosciences Obtains $14,118,534 New Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=79f940c2-1426-4491-a4f9-ad307fd3be65&Preview=1 Date 1/20/2011 Company Name Coronado Biosciences Mailing Address 1700 7th Ave. Seattle, WA 98101 Company Description Coronado Biosciences is a clinical stage biopharmaceutical company focused on making cancer care better. How do we define better? We hope to make cancer care safer and more easily tolerated with improved outcomes. Website http://www.CoronadoBioSciences.com … Continue reading “Coronado Biosciences Obtains $14,118,534 New Financing Round”
Calico Partners With Digi
Seattle-based Calico Energy Services said today it has formed a partnership with Minnetonka, MN-based Digi International (NASDAQ: [[ticker:DGII]]) to market a new smart grid technology for utilities. The Calico system, which is being integrated into the Digi X-Grid platform, is supposed to help utilities get more detailed visibility into how residential and commercial customers are … Continue reading “Calico Partners With Digi”
The State of Seattle Biotech 2011: Xconomy’s Chat With UW Faculty & Students
Seattle biotech is coming off the single best year that I’ve seen in the 10 years I’ve been covering the local industry. Hands down, no doubt about it. The FDA approval of Dendreon’s immune-booster for prostate cancer was a watershed for the company and the field of cancer immunotherapy, and Seattle Genetics had some truly … Continue reading “The State of Seattle Biotech 2011: Xconomy’s Chat With UW Faculty & Students”
Top Trends to Watch in 2011 From Experts in Infotech, Biotech, Cleantech
Innovators have to be very optimistic to believe they can create new technologies that will shake up a market. So it shouldn’t be any surprise that the high tech business leaders Xconomy writes about are looking forward to big things to come in 2011. But these people—from diverse backgrounds in high tech, life sciences, and … Continue reading “Top Trends to Watch in 2011 From Experts in Infotech, Biotech, Cleantech”
Theraclone Strikes $632M Deal With Pfizer to Discover Antibodies for Cancer, Infections
[Correction: 6:38 pm] Theraclone Sciences just got a very big break. The Seattle-based biotech company has enticed Pfizer, the world’s largest drugmaker, to pay as much as $632 million over time for the right to co-develop antibody drugs based on Theraclone’s technology. Pfizer (NYSE: [[ticker:PFE]]) is getting access to the Theraclone technology to hunt for … Continue reading “Theraclone Strikes $632M Deal With Pfizer to Discover Antibodies for Cancer, Infections”
Arzeda Hits Milestone in Pioneer Deal
Arzeda, the Seattle-based company that creates new enzymes, said it has reached a technical milestone as part of collaboration with DuPont’s Pioneer Hi-Bred business unit. Arzeda, a University of Washington spinoff from the lab of biochemist David Baker, has developed a novel enzyme that Pioneer says is “showing activity toward a trait of interest” in … Continue reading “Arzeda Hits Milestone in Pioneer Deal”
What Does Biotech Really Suffer From? Information Overload, or Underload?
Cognitive dissonance is defined as “an uncomfortable feeling caused by holding conflicting ideas simultaneously.” I’m suffering from a serious case of discomfort as I try to figure out which is the bigger problem facing biotech scientists: too much information, or too little. Information overload is a serious issue in biomedical research, if not virtually all … Continue reading “What Does Biotech Really Suffer From? Information Overload, or Underload?”
Cheezburger, With Dreams of Domination in Internet Humor, Grabs $30M From Foundry Group, Madrona, Avalon, SoftBank
Cheezburger became a viral Internet success story on little more than the moxie of its founders and a shoestring budget. But now it has opted to take big-time venture capital to pursue its dream to become a much bigger, more lucrative empire for humor on the Internet. The Seattle-based company that runs a network of … Continue reading “Cheezburger, With Dreams of Domination in Internet Humor, Grabs $30M From Foundry Group, Madrona, Avalon, SoftBank”
Cheezburger Lands $30,000,000 New Funding Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=3efc293e-79cd-453e-92a5-445c3cec4d4e&Preview=1 Date 1/18/2011 Company Name Cheezburger Mailing Address 190 Queen Anne Ave. N. Seattle, WA 98109 Company Description The company operates a network of humor oriented websites. Website http://www. Cheezburger.com Transaction Type Venture Equity Transaction Amount $30,000,000 Transaction Round Undisclosed Proceeds Purposes The company said it plans to use the funds to … Continue reading “Cheezburger Lands $30,000,000 New Funding Round”
American Society of Gene & Cell Therapy Annual Meeting
The American Society of Gene & Cell Therapy is holding its 14th annual meeting this year on May 18-21 at the Washington State Convention Center in Seattle. For more information about the conference, click here.
Ekos Wins European Approval for Ultrasound Clot Buster in the Lungs
Ekos, the Bothell, WA-based maker of an ultrasound-based technology for dissolving blood clots, has won approval to market its device against life threatening clots in the lungs among patients in Europe. The Ekosonic system, which we wrote about in these pages a year ago, has won approval from regulators in the European Union as a … Continue reading “Ekos Wins European Approval for Ultrasound Clot Buster in the Lungs”
Seattle Genetics Gets Some Love on National TV, as Cancer Drug Nears Market
One emerging biotech company in Seattle gets a lot of national attention, and it isn’t Seattle Genetics. So while the regional drama king (Dendreon) grabbed headlines again today by raising $540 million, the lesser known folks at Seattle Genetics (NASDAQ: [[ticker:SGEN]]) took their turn in the limelight this week, in an appearance on CNBC. The … Continue reading “Seattle Genetics Gets Some Love on National TV, as Cancer Drug Nears Market”
Scenes from JP Morgan 2011: The Photo Gallery
The marathon biotech schmoozefest known as the JP Morgan Healthcare Conference is officially over, and I’ll say two things first off. Wow, it was fun. And wow, I’m glad to be home. Xconomy’s bookkeeper will surely get a chuckle out of what my Amex card says about my activity this week in San Francisco’s Union … Continue reading “Scenes from JP Morgan 2011: The Photo Gallery”