Category: Seattle

ASCO Weekend Recap: OncoGenex, Seattle Genetics, Vulcan-Backed BiPar Show Off Cancer Drug Results

Lots of news from the world of cancer research came out over the weekend at the American Society of Clinical Oncology meeting in Orlando, FL. There was a lot of impressive data coming out of Northwest companies (although most of it is still quite preliminary), so here’s a quick recap to catch up. The conference, … Continue reading “ASCO Weekend Recap: OncoGenex, Seattle Genetics, Vulcan-Backed BiPar Show Off Cancer Drug Results”

Seattle Genetics “Empowered Antibody” Wipes Out Hodgkin’s Tumors in Early Study

Seattle Genetics offered some more evidence, albeit quite preliminary, that suggests it may have a powerful new drug for Hodgkin’s disease and related lymphomas. The Bothell, WA-based biotech company (NASDAQ: [[ticker:SGEN]]) said today about half of patients who failed on multiple previous treatments had their tumors shrink after taking its experimental SGN-35 drug, and more … Continue reading “Seattle Genetics “Empowered Antibody” Wipes Out Hodgkin’s Tumors in Early Study”

Chinese Boats, Qi Lu, and Competing With Google—A Bing Roundup

Although Microsoft made the official announcement about its new search engine Bing last week, the site won’t be fully functional until this Wednesday.  Here are some tidbits about Bing collected from the Web to tide you over until then. —In his early test drive of Bing, The Seattle Times’ Brier Dudley concluded that the upstart … Continue reading “Chinese Boats, Qi Lu, and Competing With Google—A Bing Roundup”

Seattle Genetics, Inc Receives $11,500,000 New Funding

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=fa9c7dd9-5198-499c-8707-2fe9578ecdda&Preview=1 Date 6/1/2009 Company Name Seattle Genetics, Inc Mailing Address 21823 – 30th Drive S.E. Bothell, WA 98021 Company Description Seattle Genetics, Inc. is a clinical stage biotechnology company focused on the development and commercialization of monoclonal antibody-based therapies for the treatment of cancer and autoimmune disease. Our strategy is to advance … Continue reading “Seattle Genetics, Inc Receives $11,500,000 New Funding”

ZymoGenetics Kidney Cancer Drug Shrinks, Stabilizes Tumors in Sickest Patients

ZymoGenetics (NASDAQ: [[ticker:ZGEN]]) is getting out of the business of developing cancer drugs, but it may have at least one potential valuable asset to put up for sale. The Seattle-based biotech company said its IL-21 drug was able to shrink and stabilize tumors in a small clinical trial of some of the sickest patients with … Continue reading “ZymoGenetics Kidney Cancer Drug Shrinks, Stabilizes Tumors in Sickest Patients”

Breast Cancer Bombshell: Vulcan-Backed BiPar Wows Scientists, Helps Women Live Longer

[[Updated with scientist comment, 1:20 pm ET]] Billionaire Paul Allen made windfall profits from his investment in BiPar Sciences, and today we can really see why. The Brisbane, CA-based biotech company founded by Allen’s Vulcan investment firm said today that its drug candidate for women with an aggressive form of breast cancer was able to … Continue reading “Breast Cancer Bombshell: Vulcan-Backed BiPar Wows Scientists, Helps Women Live Longer”

OncoGenex Drug Helps Prostate Cancer Patients Live Longer in Small Study

OncoGenex Pharmaceuticals’ stock has busted out from obscurity in the past couple of weeks, and today it’s showing what the fuss is all about. The Bothell, WA-based biotech company (NASDAQ: [[ticker:OGXI]]) is reporting that its experimental prostate cancer drug was able to help men live longer in a small clinical trial, a finding which suggests … Continue reading “OncoGenex Drug Helps Prostate Cancer Patients Live Longer in Small Study”

Calistoga Picks Up Buzz at ASCO, Thanks to Momentum from Rival

Last Wednesday night, the top dealmaker at Seattle-based Calistoga Pharmaceuticals got a tip that one of his rivals was on the verge of striking a huge deal. Cliff Stocks, the chief business officer, told CEO Carol Gallagher he was hopeful the rumor was true—that some Big Pharma company would pay a fortune for an experimental … Continue reading “Calistoga Picks Up Buzz at ASCO, Thanks to Momentum from Rival”

Dendreon Annual Shareholders Meeting

Dendreon, the Seattle-based developer of an immune-boosting treatment for prostate cancer, is holding its annual shareholders meeting at its headquarters in Belltown. Shareholders are being asked to elect two new members to the company’s 12-member board of directors, and give the company (NASDAQ: [[ticker:DNDN]]) the ability to sell another 100 million shares of stock if … Continue reading “Dendreon Annual Shareholders Meeting”

Accessing Stimulus Dollars: Successful Case Studies

Government will play an increasingly important role in technology this year. In the federal stimulus package alone, some $19 billion is allocated for health-care information technology, some $44 billion is allocated to clean technology programs, and over $21 billion is allocated to other research and development. No longer is Washington, DC a place for just … Continue reading “Accessing Stimulus Dollars: Successful Case Studies”

MediQuest Grabs $2.3M

Mediquest Therapeutics, a Bothell, WA-based developer of topical treatments for inflammatory diseases, has sold $2.3 million of a $15 million equity offering according to a filing made today with the U.S. Securities and Exchange Commission.  Founded in 1994, the company is developing a treatment for Raynaud’s disease, a condition that causes numbness in the fingers … Continue reading “MediQuest Grabs $2.3M”

Modumetal Raises $1.5M-Plus from Alliance of Angels, Second Avenue, WRF Capital

Seattle-based Modumetal, an advanced materials startup, is closing a new round of equity funding worth between $1.5 million and $2 million, according to co-founder and CEO Christina Lomasney. The round includes existing Seattle-area investors Alliance of Angels and Second Avenue Partners, as well as new investor WRF Capital. Modumetal “grows” what are called nanolaminated structures … Continue reading “Modumetal Raises $1.5M-Plus from Alliance of Angels, Second Avenue, WRF Capital”

Three Questions on Startup Culture and Investing Strategy with Greg Huey of Alliance of Angels

We may have similar names, but we come from different worlds. Greg Huey, the new program director of Seattle-based Alliance of Angels, has a business background and more than 10 years of investment and corporate development experience. He bears little resemblance to a certain Xconomy Seattle editor, besides having an avid interest in the local … Continue reading “Three Questions on Startup Culture and Investing Strategy with Greg Huey of Alliance of Angels”

Can the Feds Get Into the Biotech VC Business? Bionager Wants to Make It Happen

Washington state gets more than $1 billion every year from the federal government to support biomedical research, which makes a lot of entrepreneurs wonder why there aren’t more startups being spun out each year. Now a couple of well-known Northwest life sciences entrepreneurs, Tom Ranken and Bob Wilcox, want to take a little more money … Continue reading “Can the Feds Get Into the Biotech VC Business? Bionager Wants to Make It Happen”

Will Quick Hit Score Big? Behind the Scenes with Foxborough’s Newest Team

There’s a company in Foxborough, MA, not two miles away from the New England Patriots’ Gillette Stadium, where a crew of veteran online game developers is putting the finishing touches on a potentially groundbreaking new game about football. Now, I can tell you all about why the venture-funded startup, Quick Hit, is likely to dazzle … Continue reading “Will Quick Hit Score Big? Behind the Scenes with Foxborough’s Newest Team”

Modumetal Receives $1,500,000 New Funding Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=cbe1d822-51f3-461c-b405-1a4c013650b9&Preview=1 Date 5/29/2009 Company Name Modumetal Mailing Address 1443 N. Northlake Way Seattle, WA 98103 Company Description The mission of Modumetal is to revolutionize the design and manufacture of automobiles, aircraft, armor and building materials in a way that has never before been realized since the deployment of mass production concepts. Website … Continue reading “Modumetal Receives $1,500,000 New Funding Round”

MediQuest Therapeutics, Inc Secures $2,300,000 New Funding

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=2e2d242c-cc03-44a3-bc5b-729893f42030&Preview=1 Date 5/29/2009 Company Name MediQuest Therapeutics, Inc Mailing Address 22322 20th Avenue SE Bothell, WA 98021 Company Description MediQuest Therapeutics, Inc. (MediQuest) is a specialty pharmaceutical company developing first- and best-in-class topical therapies in late-stage clinical development to treat patients suffering from inflammatory and infectious diseases. Using a proprietary drug delivery … Continue reading “MediQuest Therapeutics, Inc Secures $2,300,000 New Funding”

Facebook Funds Seattle Startups

Two Seattle-based companies were awarded part of a $500,000 grant by Facebook today. The companies, Sortuv and Vittana, are two of the 20 startups and nonprofits receiving money through fbFund, a new program designed to help startups that make social websites and software.  Sortuv is a search engine designed around plain questions rather than keywords, … Continue reading “Facebook Funds Seattle Startups”

Washington State Biomedical Device Summit

The second annual Washington State Biomedical Device Summit will bring together leading executives, entrepreneurs, and scientists in the local medical device community on June 23 at the University of Washington Bothell. The summit is expected to include presenters from Cardiac Science, Pathway Medical Technologies, SonoSite, Philips Healthcare and other leading companies in the region. To … Continue reading “Washington State Biomedical Device Summit”

Bing! Google’s Death Knell?

Microsoft today announced the launch of its new search engine, Bing.  Steve Ballmer, Microsoft’s chief executive, will be making the official announcement this morning at the D: All Things Digital conference in Carlsbad, CA.  Bing has been the topic of many rumors and speculations in the months leading to its unveiling—mostly people wondering whether it … Continue reading “Bing! Google’s Death Knell?”

Vulcan’s Biotech Windfall, Tekmira Tackles RNAi Delivery, The $1,000 Genome Debate, & More Seattle-Area Life Sciences News

The usual suspects in Seattle biotech were quiet this week, but we reported on an intriguing cancer drug developer with Paul Allen’s fingerprints all over it, as well as some compelling life sciences companies from British Columbia. —Vulcan Capital, the investment vehicle that controls billionaire Paul Allen‘s fortune, quietly dialed back its biotech investing a … Continue reading “Vulcan’s Biotech Windfall, Tekmira Tackles RNAi Delivery, The $1,000 Genome Debate, & More Seattle-Area Life Sciences News”

CTI Loses $4.3M Arbitration

Cell Therapeutics (NASDAQ: [[ticker:CTIC]]), the Seattle-based developer of cancer drugs, said today in a regulatory filing that it lost an arbitration dispute with Irvine, CA-based Spectrum Pharmaceuticals worth $4.3 million. In February, CTI sold its remaining stake in the lymphoma drug ibritumomab tiuxetan (Zevalin) to Spectrum for $16.5 million. In April, Spectrum refused to pay … Continue reading “CTI Loses $4.3M Arbitration”

Open Source Biology Movement Co-Founder, Merck’s Eric Schadt, Leaves for New Job

Merck’s Eric Schadt, one of the creative forces in a fledgling effort to start an open-source computing movement for biology, is leaving that role after a couple of months for a new full-time job. Schadt, 44, the executive director of Merck’s Rosetta Inpharmatics division in Seattle, has agreed to become the chief scientific officer for … Continue reading “Open Source Biology Movement Co-Founder, Merck’s Eric Schadt, Leaves for New Job”

Small & Special

Small & Special is an afternoon event where you can hear a series of talks from the passionate founders of successful small businesses. Come ready to ask them good questions, learn something that may help you start your own business, meet people who share your dream, and be inspired. Info and registration here. Confirmed speakers … Continue reading “Small & Special”

nPost Networking for Tech Startups

Info and registration here. Our events are for tech entrepreneurs, VCs, and Angels to meet and mingle. Note: Please no service providers (Real Estate agents, Brokers, etc). These events are for the tech startup community.

Startups and Silver Linings: Insights from a WTIA Forum Panelist

I had the pleasure of attending the 2009 WTIA Tech Showcase Fast Pitch Forum yesterday. I was one of four panelists tasked with listening, reacting, and asking questions of the 23 Seattle-area companies that each had eight minutes to present. The day was divided up into six one-hour-long sessions, and I’m ashamed to admit I … Continue reading “Startups and Silver Linings: Insights from a WTIA Forum Panelist”

Singing, Dancing, Careful Note-Taking: Students Express Life Science Ideas at Expo

The red blood cells traveled down the vein in their endless journey, moving oxygen and nourishment throughout the body. But some blood cells, thinner, curved, and more rigid were having trouble. They stuck to the blood vessel walls slowing this whole intricate process to a crawl. Actually these weren’t real red blood cells, or veins. … Continue reading “Singing, Dancing, Careful Note-Taking: Students Express Life Science Ideas at Expo”

Top 5 Takeaways on Innovation and Entrepreneurship from Tim Draper of DFJ

On a gloriously sunny Seattle afternoon, venture capitalist Tim Draper stopped by to impart some words of wisdom. The founder and managing director of Silicon Valley-based Draper Fisher Jurvetson gave the keynote today at the Washington Technology Industry Association’s Fast Pitch Forum & Technology Showcase down at the Bell Harbor conference center. He was hosted … Continue reading “Top 5 Takeaways on Innovation and Entrepreneurship from Tim Draper of DFJ”

$500K for 1000 Markets

Seattle-based 1000 Markets, an online community of marketplaces for niche products and artisan crafts, has raised $503,739 in new funding, according to a regulatory filing. The investors were not disclosed. 1000 Markets competes with Etsy and eBay, and plays in a similar e-commerce space as Kirkland, WA-based Bonanzle (profiled here last month).

Clarian Technologies Aims to Take Financial Sting Out of Wind Power with Jellyfish Turbine

[Updated with comments from Kelly Jo MacArthur on page 2] In recent years, we have seen an explosion of alternative energy devices, yet most of these technologies remain out of the reach of the average homeowner. To outfit your roof with solar panels, you’d probably be out $10,000 to $20,000 as an initial investment. Clarian … Continue reading “Clarian Technologies Aims to Take Financial Sting Out of Wind Power with Jellyfish Turbine”

Fate Therapeutics Starts First Clinical Trial of Drug to Boost Stem Cell Transplants

Fate Therapeutics plans to announce this morning that it has begun its first clinical trial of a drug built on its knowledge of stem cell biology. Rather than injecting certain kinds of adult stem cells to regenerate tissues, this treatment involves a conventional small-molecule drug that’s designed to spur growth of blood-forming stem cells that … Continue reading “Fate Therapeutics Starts First Clinical Trial of Drug to Boost Stem Cell Transplants”

Genologics Aims to Turn Patient Records, Genome Data into Something Biologists Can Use

A little company on Vancouver Island has its sights set on one of the big challenges of the day in healthcare software. It is trying to piece together the vast puzzle of data on human health—everything from patient medical records, tissue or blood sample readings from the lab, and genomic data—and package it all in … Continue reading “Genologics Aims to Turn Patient Records, Genome Data into Something Biologists Can Use”

TeachStreet, Inc Lands $1,200,000 New Funding Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=7722d5fa-3f88-4a7d-a954-810941c6d7d2&Preview=1 Date 5/27/2009 Company Name TeachStreet, Inc Mailing Address 2101 9th Avenue Seattle, WA 98121 Company Description Our goal is to encourage life-long learning by connecting inquiring minds with inspiring instructors via an insanely easy-to-use website. We’re creating an effortless way for curious folks to find great local instructors (whether they want … Continue reading “TeachStreet, Inc Lands $1,200,000 New Funding Round”

1000 Markets Obtains $503,739 New Funding

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=a948c8fe-321f-416d-b309-8fc08a2a7229&Preview=1 Date 5/27/2009 Company Name 1000 Markets Mailing Address Undisclosed Seattle, WA 98104 Company Description Our markets are more than just collections of products; they are full of people and stories. They have voices and personalities.Our merchants are small, independent, artisan businesses built by people who love their craft. They make and … Continue reading “1000 Markets Obtains $503,739 New Funding”

Sen. Maria Cantwell and Nathan Myhrvold Talk Statewide Innovation at Intellectual Ventures Lab Ceremony

It’s not every day you get to watch a U.S. senator swallow a swirling ball of liquid nitrogen-cooled foam (yuzu-flavored, no less). Talk about a palate cleanser. That was just one stop along a rather surreal press tour and ribbon-cutting ceremony this morning at the Intellectual Ventures Laboratory in Bellevue, WA, as Sen. Maria Cantwell … Continue reading “Sen. Maria Cantwell and Nathan Myhrvold Talk Statewide Innovation at Intellectual Ventures Lab Ceremony”

Loctronix Helps Japan Find Itself

Woodinville, WA-based Loctronix revealed a new alliance with Japanese company NEC Magnus Communications that will allow NEC to use the single-chip, multiple source GPS technology developed by the American company in its products.  The new products will be part of the effort by the Japanese government to create a “ubiquitous society,” where all of Japan … Continue reading “Loctronix Helps Japan Find Itself”

Visible Raises $6M, Vulcan Goes Deep with BiPar, IdeaScale Serves White House, & More Seattle-Area Deals News

It was a relatively light week for deals in the Northwest, perhaps owing to the holiday weekend. But there was still action in biotech, marketing software, and alternative energy. —Kennewick, WA-based Infinia raised $14.1 million in debt financing out of a $50 million offering. The company, which is backed by Vulcan Capital, Khosla Ventures, and … Continue reading “Visible Raises $6M, Vulcan Goes Deep with BiPar, IdeaScale Serves White House, & More Seattle-Area Deals News”

Tekmira Tackles RNAi Delivery Challenge, With Alnylam, Roche Putting It to the Test

The people at Cambridge, MA-based Alnylam Pharmaceuticals are widely recognized as leaders in the field of RNA interference, but they are quick to acknowledge they don’t do it all themselves. They lean on partners, including one important one in the Northwest, Vancouver, BC-based Tekmira (TSX: [[ticker:TKM]]). This Canadian company’s reputation as a key player in … Continue reading “Tekmira Tackles RNAi Delivery Challenge, With Alnylam, Roche Putting It to the Test”

UW Business Plan Competition Kick-Starts Companies to Action

The University of Washington Business Plan Competition hosted by the Center for Innovation and Entrepreneurship (CIE) came to a close Thursday night, handing out $60,000 in prize money to an impressive field of technologies. It brought a bittersweet end for my team’s company, Shockmetrics. We did not take the $25K grand prize award that we … Continue reading “UW Business Plan Competition Kick-Starts Companies to Action”

Infinia Raises $14.1M for Solar Power

Kennewick, WA-based Infinia, a maker of solar power generation technology which uses free-piston Stirling engines, has raised $14.1 million in debt financing, according to a regulatory filing. The financing looks to be part of a $50 million offering. Infinia is backed by Vulcan Capital, Khosla Ventures, and others.

Croaking Frogs, Swiss Cheese, and Close Calls—A $25K Winner’s Tale

The 2009 University of Washington Business Plan Competition has come and gone. It started with something like 90 business plan submissions that were paired down to 33 set to compete in an investment round. That round can best be described as a Las Vegas-style trade show with 33 booths, over two hundred judges, team shirts, … Continue reading “Croaking Frogs, Swiss Cheese, and Close Calls—A $25K Winner’s Tale”

The New Vulcan Capital: Steve Hall and Chris Temple on Working with Paul Allen, Investing with Partners, and Banking On Seattle Innovation

It feels like the dawn of a new era at Vulcan Capital. The private investment group, which manages billionaire Paul Allen’s personal and professional holdings, has been very private—until now, it seems. Coming off a series of high-profile successes (like BiPar Sciences, a $100 million-plus return on $13 million investment) and failures (like the Charter … Continue reading “The New Vulcan Capital: Steve Hall and Chris Temple on Working with Paul Allen, Investing with Partners, and Banking On Seattle Innovation”