It was a bit of a quiet week for Northwest deals, with some local venture dollars going to other parts of the country. Nevertheless, there was activity in gaming, music, robotics, biotech, and cleantech. —Seattle-based Tuusso Energy completed a $2 million financing round led by Pivotal Investments, based in Portland, OR. The deal was made … Continue reading “Jeff Bezos Invests in Robots, MySpace Confirms iLike Purchase, Cell Therapeutics Sells Stock, & More Seattle-Area Deals News”
Category: Seattle
Tuusso Energy Raises $2M Led by Pivotal
Seattle-based Tuusso Energy, a developer of solar power plants, announced today it has completed a $2 million financing round led by Pivotal Investments, based in Portland, OR. The investment was made in partnership with Akula Energy Ventures, which will be co-investing in Tuusso’s utility-scale projects. The company’s first project is a solar plant, slated for … Continue reading “Tuusso Energy Raises $2M Led by Pivotal”
Smith & Tinker Raises Total of $29M, Looks to Merge Online Games with Collectible Toys
In one of the Seattle area’s biggest tech financings this year, Bellevue, WA-based Smith & Tinker has raised a total of $29 million in venture funding to deliver and market a hybrid game for kids that bridges the online and offline worlds. The latest funding round was led by new investor DCM, based in Silicon … Continue reading “Smith & Tinker Raises Total of $29M, Looks to Merge Online Games with Collectible Toys”
Targeted Genetics’ Legacy: No Cures, But a Generation of Seattle Biotechies
[Updated: 10 am, 3/24/10] Targeted Genetics never cured anything. The Seattle biotech company (NASDAQ: [[ticker:TGEN]]) didn’t prove the concept that gene therapy could usher in a new era of more effective medicines. It was never profitable. It burned through more than $315 million in investor capital during its 17-year history. Those are cold facts that … Continue reading “Targeted Genetics’ Legacy: No Cures, But a Generation of Seattle Biotechies”
Three CEOs, Three More Words on Seattle Startup Cultures
On Friday, I wrote about the corporate culture of six Northwest tech startups, boiled down to one word each. From “paranoid” to “easy,” from “humble” to “obsessed,” these companies—which spanned business software, mobile, gaming, and other areas—clearly follow the lead of their CEOs and founders. Here are three more, from the tech worlds of Internet, … Continue reading “Three CEOs, Three More Words on Seattle Startup Cultures”
ProFibrix Closes $11M Series B
Netherlands-based ProFibrix, which has a Seattle subsidiary, announced today it has raised $11 million in Series B funding, led by new investor Gilde Healthcare Partners and including existing investor Index Ventures. ProFibrix was founded in 2004 and makes a dry powder topical tissue sealant that stops bleeding during or after surgery. The product, called Fibrocaps, … Continue reading “ProFibrix Closes $11M Series B”
Seattle Genetics Trial Fills Up
Seattle Genetics, the Bothell, WA-based developer of cancer drugs, said today that it has completed enrollment in the pivotal clinical trial of its lead product candidate, brentuxmab vedotin (SGN-35). The trial recruited 100 patients with relapsed forms of Hodgkin’s disease. The enrollment period was about six months faster than the company expected, so Seattle Genetics … Continue reading “Seattle Genetics Trial Fills Up”
FDA Agrees to Review CTI App
Cell Therapeutics, the Seattle-based developer of cancer drugs, said today that the FDA has agreed to review the company’s application to market pixantrone for non-Hodgkin’s lymphoma in the U.S. The company (NASDAQ: [[ticker:CTIC]]) is seeking an expedited six-month review for the drug, which is sometimes granted for treatments with life-saving potential. The FDA will decide … Continue reading “FDA Agrees to Review CTI App”
May The Schwartz Be With You: Eric’s Top Stories of the Summer
Thirteen weeks, 123 stories, and about a million cups of Starbucks’ finest later, my internship at Xconomy in Seattle is over. But as a parting gift, I am going to share some of my favorite articles from the summer here. I hope you enjoy reading them (and my other articles) as much as I enjoyed … Continue reading “May The Schwartz Be With You: Eric’s Top Stories of the Summer”
Venture Model Makeover & Diet Plan—Step One
A lot of people have been asking lately if the venture model is broken. But it seems to me that it’s just decrepit. Like an aging, rotund former football star, the venture industry is scratching its head and realizing that its glory days are long past. The industry collectively doesn’t really know how to handle … Continue reading “Venture Model Makeover & Diet Plan—Step One”
Can The Genome Be Cracked for $5,000? OVP, Enterprise Partners Say Yes in $45M Round
Complete Genomics, the Mountain View, CA-based company that says it can sequence entire human genomes for as little as $5,000, has pinned down a $45 million venture round which includes support from two of its founding backers—Kirkland, WA-based OVP Venture Partners and San Diego-based Enterprise Partners Venture Capital. The rest of the capital is coming … Continue reading “Can The Genome Be Cracked for $5,000? OVP, Enterprise Partners Say Yes in $45M Round”
Zino Zillionaire Investment Forum 2009
The Zino Society, a network for angel investors, is hosting the fourth annual Zino Zillionaire Investment Forum on Sept. 17 at the Four Seasons Hotel in Seattle. The event will feature 28 companies, representing a variety of business sectors, presenting to an audience of angel investors, venture capitalists and business leaders. For more information, click … Continue reading “Zino Zillionaire Investment Forum 2009”
Six Startup CEOs On Their Company Culture, Boiled Down to One Word
You can tell a lot about a company from its chief executive. They set the tone, the direction, the pace of operations. For a startup, it all starts with the CEO. A startup’s culture is what sets it apart from its peers. It is the essence of the operation. It directly affects the company’s strategy, … Continue reading “Six Startup CEOs On Their Company Culture, Boiled Down to One Word”
Bezos Expeditions Contributes to $7 Million Round for Heartland Robotics
Regulatory documents filed today show that Heartland Robotics, the Cambridge, MA, industrial robotics startup founded by MIT computer science legend Rod Brooks, has raised just over $7 million in an equity offering. The documents don’t reveal the identities of the funders, and Heartland has not announced the names, but Xconomy has learned that one of … Continue reading “Bezos Expeditions Contributes to $7 Million Round for Heartland Robotics”
Amazon, Microsoft Join Against Google Books Deal
Northwest tech giants Amazon and Microsoft have joined a coalition of companies, nonprofit groups, and individuals to work against a proposed settlement by Google regarding its thousands of scanned books according to an article in yesterday’s New York Times. The group, which includes new Microsoft ally Yahoo, will work to derail the settlement between Google … Continue reading “Amazon, Microsoft Join Against Google Books Deal”
Why It’s Crazy for Authors to Keep Their Books Off the Kindle
In June, I wrote a column about the problem of “On Demand Disorder“—my name for the narrowing of vision that can occur when people get addicted to the instant experiences available over the Internet and other digital media. If you only listen to the music you can find on iTunes or Pandora or Last.fm, if … Continue reading “Why It’s Crazy for Authors to Keep Their Books Off the Kindle”
Domesticating Global Health
The Washington Biotechnology & Biomedical Association is hosting an event on “Domesticating Global Health” on Nov. 18. The discussion will be about how to tap the experience of the global health community in Seattle ot build a stronger life sciences commercial sector. For more information, click here.
Five Unsung Heroes of the Seattle Tech Scene
The Seattle area is known for its technology giants like Microsoft, Amazon, Boeing, and RealNetworks. It’s also known for its popular tech startups like Zillow, Wetpaint, Pet Holdings (I Can Has Cheezburger), iLike, and Big Fish Games. But there are dozens of other sizable tech companies operating behind the scenes, quietly executing on their vision … Continue reading “Five Unsung Heroes of the Seattle Tech Scene”
ZymoGenetics, Citing Two Patient Deaths, Builds Up Ammunition for Case Against Rival
Before it asked the FDA to yank a drug made by its chief competitor, King Pharmaceuticals, off the U.S. market, ZymoGenetics learned that physicians had attributed the deaths of two patients to bad reactions to the drug, says ZymoGenetics CEO Doug Williams. I spoke with Williams this morning shortly after the Seattle biotech issued a … Continue reading “ZymoGenetics, Citing Two Patient Deaths, Builds Up Ammunition for Case Against Rival”
What’s New at Xconomy
Sometimes we’re so busy doing new stuff here at Xconomy that we don’t have time to actually let you know about it. So here’s a handy list of things that have been happening at the company this summer that you might have missed. —We published our first premium product, Startup School: The Xconomy Guide to … Continue reading “What’s New at Xconomy”
AVI Nails Down $30M
AVI Biopharma, the Bothell, WA-based developer of RNA therapies, said today it has raised another $30 million through a stock offering. The company (NASDAQ: [[ticker:AVII]]) said it sold 21 million new shares of common stock, in addition to 8.5 million warrants to buy shares, in an offering underwritten by Jefferies & Company. AVI, which recently … Continue reading “AVI Nails Down $30M”
ZymoGenetics Plays Hardball, Asks FDA to Pull Competing Drug Off Market Because of Safety
ZymoGenetics isn’t giving up on its sole marketed product, and it’s playing some hardball to fight for it. The Seattle biotech company said today it is asking the FDA to yank its top competitor’s drug off the market because, it contends, it’s not safe enough. Thrombin-JMI, made by Bristol, TN-based King Pharmaceuticals (NYSE: [[ticker:KG]]), is … Continue reading “ZymoGenetics Plays Hardball, Asks FDA to Pull Competing Drug Off Market Because of Safety”
Three Innovators with Seattle Roots Make Waves in Video, Internet, and Smart Sensors
This week, the Seattle area has lived up to its reputation as home to the future of technology, with three local (or formerly local) innovators making the national media rounds in Technology Review, the New York Times, and Time Magazine. And not in just one field or sector either—the three span academia (smart sensors), a … Continue reading “Three Innovators with Seattle Roots Make Waves in Video, Internet, and Smart Sensors”
Cell Therapeutics Nabs $30M, Rick Klausner on Vaccines, Targeted Growth Tinkers With Algae Genes, & More Seattle-Area Life Sciences News
Somebody forgot to tell the Northwest biotech community this is the height of vacation season. Our pages this week were packed with stories on financings, clinical trials, exclusive interviews and more. —Rick Klausner, the former leader of the National Cancer Institute and the global health wing of the Bill & Melinda Gates Foundation, provided some … Continue reading “Cell Therapeutics Nabs $30M, Rick Klausner on Vaccines, Targeted Growth Tinkers With Algae Genes, & More Seattle-Area Life Sciences News”
Brett Allsop, Co-Founder of Yapta, Dies at 38
Xconomy is saddened to note that Brett Allsop, the chairman and co-founder of Seattle-based Yapta, died last night in a car accident in Bellingham, WA. Allsop was 38. The news was reported by the Bellingham Herald. Allsop co-founded Yapta, an online travel site that tracks airfares and hotel prices, in 2006. The startup raised $2 … Continue reading “Brett Allsop, Co-Founder of Yapta, Dies at 38”
Sound Pharma Gets $2.1M Contract
Sound Pharmaceuticals, the Seattle-based developer of treatments for hearing loss, said today it has received a $2.1 million contract from the Office of Naval Research, through its Science and Technology Division. The award will be used to expand ongoing development of the company’s lead drug, SPI-1005, for new types of hearing loss, and it will … Continue reading “Sound Pharma Gets $2.1M Contract”
Cell Therapeutics Raises $30M
Seattle-based cancer drug developer Cell Therapeutics (NASDAQ: [[ticker:CTIC]]) announced in a press release today that it has raised $30 million by selling preferred stock and warrants to purchase shares of its common stock to a single institutional investor. The money will be used as operating capital by the company. The offer is expected to close … Continue reading “Cell Therapeutics Raises $30M”
MySpace Confirms Purchase of iLike
MySpace CEO Owen Van Natta confirmed in a press conference call today that the social networking website has purchased Seattle-based music service company iLike. Financial details were not disclosed, but the rumors surrounding the deal point to about $20 million being spent by MySpace for the Seattle startup. According to Van Natta, the company will … Continue reading “MySpace Confirms Purchase of iLike”
State of Venture Quiz 2: Answers and Commentary
Do you get the feeling deal flow is picking up a bit? Well, you might be right. But does that make things better for entrepreneurs? Not necessarily. As Boston lawyer John Hession sums up: “The market is improving. That doesn’t necessarily mean that deal terms are improving or valuations are improving. It means the number … Continue reading “State of Venture Quiz 2: Answers and Commentary”
iLike Courts MySpace, Microsoft and Nokia Tie the Knot, Madrona Funds Three Startups, & More Seattle-Area Deals News
It was a crazy busy week for deals in the Northwest. Just when we thought the flow might slow down before the end of summer, we saw tons of activity in software, Internet, mobile, gaming, and materials. —Bellevue, WA-based Apptio, the IT cost management startup led by CEO Sunny Gupta, raised $14 million in Series … Continue reading “iLike Courts MySpace, Microsoft and Nokia Tie the Knot, Madrona Funds Three Startups, & More Seattle-Area Deals News”
With Funding from OVP, Novomer Works to Make Diapers and Other Plastic Goodies from Carbon Gases
Carbon monoxide and carbon dioxide get a bad rap. Sure, the first is a silent killer that binds to hemoglobin and suffocates people in burning buildings, and the second is poisoning our atmosphere and driving global temperatures out of control. But did you know that they can also be used to make plastic? Back in … Continue reading “With Funding from OVP, Novomer Works to Make Diapers and Other Plastic Goodies from Carbon Gases”
VC Rick Klausner on the Future of Vaccines, and Why Dendreon is Only Scratching the Surface
Vaccines produced some of the biggest advances in medicine over the past two centuries, but for most of that time, scientists couldn’t say for sure how they worked to rev up the immune defenses. “You would close your eyes and hope,” says Rick Klausner. That era is coming to a close, says Klausner, a former … Continue reading “VC Rick Klausner on the Future of Vaccines, and Why Dendreon is Only Scratching the Surface”
Why Big Pharma Wants To Be Like Big Biotech
Why would a Big Pharma company want to remake itself as a biotech? In a recent Xconomy piece, I discussed the changes in Roche’s corporate culture brought on by their recent acquisition of Genentech, along with recommendations for creating an innovative biotech research culture. What I didn’t have the space to dive into was a … Continue reading “Why Big Pharma Wants To Be Like Big Biotech”
The Qpass Mafia, Part Two: An Updated Family Tree of Digital Commerce Execs
I’ve gotten quite a few responses and additions to yesterday’s list of “Qpass mafia,” an influential group of former Qpass employees from the Seattle area. So far, nobody has sent me a Sicilian message (like a dead fish through my window), so I must be on the right track. But feel free to comment on … Continue reading “The Qpass Mafia, Part Two: An Updated Family Tree of Digital Commerce Execs”
PATH Wins $1.5M Hilton Prize, World’s Biggest Award for Humanitarian Work
PATH, the Seattle-based nonprofit that works to improve health in poor countries, said today it has won the closest thing the humanitarian field has to the Nobel Prize—the $1.5 million cash award known as the Conrad N. Hilton Humanitarian Prize. The news was delivered at an exuberant press conference this morning with PATH president Christopher … Continue reading “PATH Wins $1.5M Hilton Prize, World’s Biggest Award for Humanitarian Work”
Impinj Teams Up with Coca-Cola
Seattle-based Impinj, the radio frequency identification (RFID) company, said today it has formed a partnership with Coca-Cola to provide RFID tags and readers for Coke’s new Freestyle drink dispensers. This contraption will give customers a choice of more than 100 flavors of sodas and other drinks, and will track and monitor dispenser operations, as well … Continue reading “Impinj Teams Up with Coca-Cola”
AISI Raises $11M in Series B
Advanced Inquiry Systems, Inc. (AISI) closed Series B financing with $11 million, according to a press release sent out today. The Hillsboro, OR-based company developed a data sensing system for semiconductor memory manufacturing, that allows memory devices to be tested for performance both earlier and for less cost than standard technology allows. Investors in the … Continue reading “AISI Raises $11M in Series B”
Jambool Raises $5M Led by Madrona
Jambool, a micropayments and virtual currency startup founded in Seattle with offices in San Francisco, announced it has raised $5 million in venture funding led by Madrona Venture Group. The startup, led by Amazon veterans Vikas Gupta and Reza Hussein, raised $1 million last year from investors including Bay Partners, who also participated in the … Continue reading “Jambool Raises $5M Led by Madrona”
Light Sciences Starts BPH Trial
Light Sciences Oncology, the Bellevue, WA-based developer of cancer treatments, said today it has started enrolling patients in a mid-stage clinical trial of its light-activated drug for men with benign prostatic hyperplasia (BPH). The condition, sometimes known as enlarged prostate, is characterized by frequent urination, urgency to urinate, and getting up at night to go. … Continue reading “Light Sciences Starts BPH Trial”
Apptio Raises $14M to Expand, “Crush the Competition” in IT Financial Management
Want to know how to raise a big round of venture funding in a recession? If you’re in the software business, talk to Sunny Gupta. Gupta’s company, Bellevue, WA-based Apptio, is announcing a $14 million Series B financing round today. The round includes existing investors Madrona Venture Group and Greylock Partners, and also new investors … Continue reading “Apptio Raises $14M to Expand, “Crush the Competition” in IT Financial Management”
Xconomy Goes Mobile at m.xconomy.com
We’re happy to announce that there’s now an easier to way to read Xconomy on your mobile phone. Go to http://m.xconomy.com for the new mobile-friendly version of our site, which we’ve simplified for easy navigation on small screens. All the usual content is there: our Boston, San Diego, and Seattle news stories, along with Xconomist … Continue reading “Xconomy Goes Mobile at m.xconomy.com”
ClearAccess Raises $6M in Series B Financing
Vancouver, WA-based ClearAccess, a broadband device management and data services company, is announcing today that it has closed a Series B financing, raising a little over $6 million. The financing was led by Blade Ventures, Buerk Dale Victor, and DFJ Frontier. ClearAccess developed the ClearVision management system, allowing service providers to remotely manage residential and … Continue reading “ClearAccess Raises $6M in Series B Financing”
State of Venture Quiz No. 2: Deal Terms
A couple weeks ago, I colluded with Michael Greeley, general partner at Flybridge Capital Partners and chairman of the New England Venture Capital Association, to round up some statistics about venture capital here in the Boston area. I then tested readers’ knowledge of the trends with the inaugural State of New England Venture Quiz. The … Continue reading “State of Venture Quiz No. 2: Deal Terms”
Advanced Inquiry Systems Obtains $11,000,000 Series B Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=eccac56a-e175-4d0d-afda-241652162da3&Preview=1 Date 8/18/2009 Company Name Advanced Inquiry Systems Mailing Address 20520 NW Evergreen Parkway Hillsboro, OR 97124 Company Description Advanced Inquiry Systems, Inc. (AISI) is revolutionizing semiconductor test, helping our customers combat rising costs in the midst of falling product prices. Our unique solutions enhance flexibility for device design, greatly reduce test … Continue reading “Advanced Inquiry Systems Obtains $11,000,000 Series B Financing Round”
Apptio Lands $14,000,000 Series B Funding
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=9d271b1a-2480-4ed1-a2b2-ae2174cf86eb&Preview=1 Date 8/18/2009 Company Name Apptio Mailing Address 10900 NE 4th Street Bellevue, WA 98104 Company Description Apptio is an early stage software-as-a-service (SaaS) company focused on enabling IT organizations to optimize their services and operations. Website http://www.apptio.com Transaction Type Venture Equity Transaction Amount $14,000,000 Transaction Round Series B Proceeds Purposes Proceeds … Continue reading “Apptio Lands $14,000,000 Series B Funding”
Clear Access Garners $6,000,000 Series B Funding
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=d66c6f26-aaf3-48a4-b9c0-c34322f478e0&Preview=1 Date 8/18/2009 Company Name Clear Access Mailing Address 1301 NE 144th St Vancouver, WA 98685 Company Description ClearAccess has a clear vision to become the easiest company to work with in the broadband solution business. Our wireline and wireless solutions address the growing need for robust internet, telephony, video and other … Continue reading “Clear Access Garners $6,000,000 Series B Funding”
NewPath Raises $10M
Seattle-based wireless infrastructure company NewPath Networks announced in a press release today that it has raised a $10 million credit line with Square 1 Bank. NewPath will use the money to expand its fiber-fed distributed antenna systems in the U.S. Just a few months ago, NewPath raised $30 million from venture groups to expand the … Continue reading “NewPath Raises $10M”
Amgen Trial Shows Mixed Result
Amgen, the world’s largest biotech company, which has operations in Seattle and Cambridge, MA, said today that its drug for colorectal cancer slowed the spread of tumors for patients with a certain genetic profile, in a clinical trial of 1,186 patients. Despite slowing down tumors, the drug failed to show that translated into helping patients … Continue reading “Amgen Trial Shows Mixed Result”
MySpace to Acquire iLike for $20M, Report Says
Seattle-based iLike may be acquired by MySpace for $20 million, according to a report today in TechCrunch. iLike is a music service company with Facebook and iPhone programs that help people find new music and create playlists. It recently launched a new iPhone app that finds local concerts based on the music found on a … Continue reading “MySpace to Acquire iLike for $20M, Report Says”
The Qpass Mafia: Digital Commerce Execs Wield Influence at Firms from Amazon to Zipwhip
Here’s an interesting “people” trend to start out the week. I always like hearing about Seattle-area tech companies that spawn huge amounts of entrepreneurial activity. Besides the obvious giants—Microsoft, Amazon, RealNetworks—there are a few notable smaller companies whose employees go on to influence an inordinate number of other firms. These connections don’t get covered in … Continue reading “The Qpass Mafia: Digital Commerce Execs Wield Influence at Firms from Amazon to Zipwhip”