From an initial field of 90 teams last month, down to 33 presenters, and the sweet 16 and finals yesterday, the business plan competition at the University of Washington has captivated us with the spirit and determination of these student innovators and their veteran advisors. Some 30 judges from the Seattle-area innovation community participated in … Continue reading “UW Business Plan Competition Yields $25K Awardee, Nanocel, and Many Other Winners”
Category: Seattle
People Doing Strange Things With Soldering Irons: A Visit to Hackerspace
You might think that all of the engineering brainpower in cities like Boston, San Diego, and Seattle is sucked up by high-voltage startups or by giant employers in the software, server, or semiconductor businesses. But proof that there’s plenty of surplus technological creativity in these regions is popping up in odd places like Willoughby & … Continue reading “People Doing Strange Things With Soldering Irons: A Visit to Hackerspace”
Vulcan’s Biotech Windfall, BiPar Sciences, Sparks “Fundamental” Cancer Advance
Vulcan Capital, the investment group that controls billionaire Paul Allen’s fortune, generates lots of headlines for its big losses in Charter Communications. But few people have made much of the fact that Seattle-based Vulcan generated one of the biggest venture returns in the country this year from a cancer drug developer it founded four years … Continue reading “Vulcan’s Biotech Windfall, BiPar Sciences, Sparks “Fundamental” Cancer Advance”
Seattle Startup, Survey Analytics, Powers Obama’s Open Government Dialogue Site
It’s a good day for Vivek Bhaskaran. The co-founder of Seattle-based Survey Analytics, a marketing and customer relations startup that has been bootstrapped since 2004, has just scored a big win with the White House. The company’s software platform for hosting and managing feedback communities (engaging customers and gathering unsolicited feedback), called IdeaScale, is being … Continue reading “Seattle Startup, Survey Analytics, Powers Obama’s Open Government Dialogue Site”
Inside the UW Business Plan Competition—How One Team Got to Today’s Sweet 16
Today is the Sweet 16 and final round of the University of Washington’s annual business plan competition. Yesterday, I was asked to write an article about my experiences thus far. The fact that I’m writing this article during time that I should be practicing my pitch or, if I were really smart, trying to sleep, … Continue reading “Inside the UW Business Plan Competition—How One Team Got to Today’s Sweet 16”
Visible Technologies Raises $6M
Bellevue, WA-based Visible Technologies, a software startup that focuses on online brand reputation management and customer service, has raised $6 million in debt financing, according to a regulatory filing. Visible, which was founded in 2003, is backed by Bellevue-based Ignition Partners and New York-based WPP.
Xconomy Battle of the Tech Bands Finds Judges Who Rock
With summer on its way in, we’re starting to gear up for Xconomy’s Battle of the Tech Bands, which is happening on July 30 at the WTIA Summer Celebration at the Pyramid Alehouse in Seattle. If you or someone you know plays in a band that has at least one member who hails from a … Continue reading “Xconomy Battle of the Tech Bands Finds Judges Who Rock”
MDRNA Shrinks Board of Directors
MDRNA (NASDAQ: [[ticker:MRNA]]), the Bothell, WA-based developer of RNA interference drugs, said today it has reduced its board from eight members to five as part of its cash conservation efforts. Former CEO Steven Quay, Alex Cross, and Jack Pollack are off the new board, while Bruce Thaw, Dan Peters, James Rothman, Greg Sessler, and CEO … Continue reading “MDRNA Shrinks Board of Directors”
The $1,000 Genome is Coming: How Will It Change the World?
The big headline from the OVP Tech Summit last week came when UW computer science professor Ed Lazowska called on everyone to quit being so smug, and get serious about turning Seattle into a major league innovation cluster. But later that day, I was lucky to be the only journalist in the room, along with … Continue reading “The $1,000 Genome is Coming: How Will It Change the World?”
Dendreon’s Manufacturing Challenge, Archus Cuts Deep, Accelerator Company Launches & More Seattle-Area Life Sciences News
Seattle’s biotech companies must be trying to get a lot done before Memorial Day weekend, because we had reports on deals, layoffs, and big strategic moves. —Dendreon (NASDAQ: [[ticker:DNDN]]) has spent years trying to prove that its immune-boosting therapy for prostate cancer really works, and now it has to show it can make enough of … Continue reading “Dendreon’s Manufacturing Challenge, Archus Cuts Deep, Accelerator Company Launches & More Seattle-Area Life Sciences News”
Visible Technologies Obtains $6,000,000 New Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=e3ab3623-ed37-4daf-ab31-afd2ff4d5a42&Preview=1 Date 5/21/2009 Company Name Visible Technologies Mailing Address 401 2nd Ave S Seattle, WA 98104 Company Description Visible Technologies empowers companies to track, analyze and participate in consumer-generated media to drive their business forward. Their innovative TruCast™ platform is the industry’s first complete solution for social media analysis and participation. Visible … Continue reading “Visible Technologies Obtains $6,000,000 New Financing Round”
Uptake Medical Secures $3M
Uptake Medical, the Seattle-based company developing minimally invasive technology to treat emphysema, has raised $3.1 million in a debt financing, according to a regulatory filing. Uptake is developing a device that’s supposed to seal off access to diseased parts of the lung where air gets trapped, without leaving any implantable device behind. It is competing … Continue reading “Uptake Medical Secures $3M”
Elemental Rolls Out Video Servers
Portland, OR-based Elemental Technologies, a video processing startup, announced today the beta release of its server product, which uses off-the-shelf graphics processing units and advanced software. Elemental Server is meant to help studios, online video platforms, and large Internet video publishers deliver huge volumes of video to consumers smoothly, efficiently, and cheaply. Beta customers include … Continue reading “Elemental Rolls Out Video Servers”
Modumetal, UW Get Grant from WTC
Seattle-based Modumetal, a nanomaterials startup, and the University of Washington have received a $5,000 grant from Washington Technology Center to develop an anti-corrosion polymer coating for sulfuric acid pipelines. Leslie Warren, project manager at Modumetal, and Rajendra Bordia, UW professor of materials science and engineering, are leading the effort. Modumetal was founded in 2006 and … Continue reading “Modumetal, UW Get Grant from WTC”
HealthUnity Raises $2M
HealthUnity, the Bellevue, WA-based maker of software for connecting healthcare IT systems, has raised $2 million out of a $4 million equity financing, according to a regulatory filing. The company, founded in 2004, is led by CEO Prem Urali, a former group manager in the BizTalk Server division at Microsoft.
Oncothyreon Raises $11M
Oncothyreon, the Seattle-based developer of cancer drugs, said today it has received commitments from several investors to buy new shares and warrants for $11.1 million. The deal, underwritten by Boenning & Scattergood, is expected to close May 26. Oncothyreon (NASDAQ: [[ticker:ONTY]]) has been diversifying its pipeline toward an emphasis on cancer drugs, and has seen … Continue reading “Oncothyreon Raises $11M”
Alex Castro of Delve Networks on the Future of Internet Video
“There are a quarter of a billion websites on Planet Earth, and most of them will want video.” Now there‘s a market to put hair on your chest—the stat comes courtesy of Alex Castro, the chief executive of Seattle startup Delve Networks. I called up Castro last week, in part to ask him about his … Continue reading “Alex Castro of Delve Networks on the Future of Internet Video”
PATH Sparks Market for “Ultra Rice” in India, Through Lunches For 60,000 Schoolchildren
[[Corrected version May 22]] One of the big ideas for tackling global malnutrition that’s been percolating for years at Seattle-based PATH is showing signs of its first real momentum in the marketplace. More than 60,000 children in India are now getting a daily serving of “Ultra Rice” fortified with iron as part of their school … Continue reading “PATH Sparks Market for “Ultra Rice” in India, Through Lunches For 60,000 Schoolchildren”
Dendreon Drug Works, But Can It Manufacture Enough to Meet Demand?
The most successful homegrown biotech company from Seattle, Immunex, ultimately stumbled when it couldn’t keep up with feverish demand for its big rheumatoid arthritis drug. Now investors want to make sure another Seattle-based biotech, Dendreon, doesn’t drop the ball on manufacturing. Dendreon (NASDAQ: [[ticker:DNDN]]) has been riding a wave of enthusiasm since last month, when … Continue reading “Dendreon Drug Works, But Can It Manufacture Enough to Meet Demand?”
Pathway Medical Technologies Secures $42,500,000 Series D Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=fc2ff691-cf22-44cf-b55b-9c48af376f7f&Preview=1 Date 5/20/2009 Company Name Pathway Medical Technologies Mailing Address 10801 120th Ave NE Kirkland, WA 98033 Company Description Pathway Medical Technologies, Inc. (Pathway), located in Redmond, Washington was founded in 1998 to design, develop and manufacture innovative medical devices intended for the treatment of arterial disease. The company’s initial focus is … Continue reading “Pathway Medical Technologies Secures $42,500,000 Series D Financing Round”
Uptake Medical Corp Secures $3,100,000 New Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=c241c7ae-9751-467b-8ec4-ea3072d3335a&Preview=1 Date 5/20/2009 Company Name Uptake Medical Corp Mailing Address 1924 1st Avenue, 3rd Floor Seattle, WA 98101 Company Description Uptake Medical Corporation is a Seattle-based medical device company dedicated to improving the lives of patients suffering from emphysema and other types of chronic obstructive pulmonary diseases (COPD). Website http://www.uptakemedical.com/ Transaction Type … Continue reading “Uptake Medical Corp Secures $3,100,000 New Financing Round”
CoAptus Medical, With $3M in Hand, Seeks to Seal Up Heart Defects that Lead to Stroke
New England Patriots linebacker Tedy Bruschi suffered a stroke back in 2005, because he had a hole in his heart that allowed a blood clot to pass to his brain. State-of-the-art treatment at the time was for doctors to do surgery, patching it up with an implantable metal-and-fabric device. If Redmond, WA-based CoAptus Medical is … Continue reading “CoAptus Medical, With $3M in Hand, Seeks to Seal Up Heart Defects that Lead to Stroke”
Ramgen Power Gets $20M, Best Buy Backs Dashwire, WildTangent Teams Up With Mochi, & More Seattle-Area Deals News
It was a relatively busy week in the Northwest, with lots of little deals in biotech, software, mobile, and gaming, and one big deal in cleantech. We’ll see if the pace quickens before the unofficial start of summer… —Luke reported that Redmond, WA-based CoAptus Medical, maker of a catheter device for sealing up heart defects, … Continue reading “Ramgen Power Gets $20M, Best Buy Backs Dashwire, WildTangent Teams Up With Mochi, & More Seattle-Area Deals News”
CoAptus Raises $3M for Heart Device
CoAptus Medical, the Redmond, WA-based company that is developing a catheter device to seal up heart defects, has raised $3 million, according to a regulatory filing. CoAptus is led by CEO Joe Eichinger, a serial medical device entrepreneur, and its board includes former Heart Technology CEO David Auth and Robert Van Tassel, the founder of … Continue reading “CoAptus Raises $3M for Heart Device”
Presage, Fred Hutch Spinoff, Aims to Show Docs Which Cancer Drugs Work, and Which Won’t
Cancer drugs make almost everyone sick as a dog from toxic side effects, yet they have a hit-or-miss record when it comes to killing cancer cells. Jim Olson is a pediatric oncologist, so he’s well aware of the suffering and waste created by this approach. He prescribes these nasty toxins for young kids with only … Continue reading “Presage, Fred Hutch Spinoff, Aims to Show Docs Which Cancer Drugs Work, and Which Won’t”
Glympse of a Stealthy Startup: Ex-Microsofties Roll Out Location-Based Mobile Service
Tired of hearing your airline seatmates blab on their cellphones just to tell people “I’m on the plane,” or “I’ve just landed”? Sick of texting “Where are you?” when you’re trying to meet up with friends, or when a family member is stuck in traffic? Then Bryan Trussel, an ex-Microsoft veteran turned entrepreneur, has a … Continue reading “Glympse of a Stealthy Startup: Ex-Microsofties Roll Out Location-Based Mobile Service”
CoAptus Medical Corporation Lands $3,000,000 New Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=93ea2f94-7499-446e-9816-d4e71b223553&Preview=1 Date 5/19/2009 Company Name CoAptus Medical Corporation Mailing Address 14963 NE 95th ST Redmond, WA 98052 Company Description CoAptus Medical Corporation is an early stage medical device company developing a therapeutic product for the treatment of a structural heart defect called a patent foramen ovale, or PFO. A PFO is a … Continue reading “CoAptus Medical Corporation Lands $3,000,000 New Financing”
CellCyte Settles SEC Investigation
CellCyte Genetics, the Bothell, WA-based biotech company, has tentatively agreed to a settlement of a yearlong investigation by the Securities and Exchange Commission. The company entered a consent decree in which it will neither admit nor deny any wrongdoing, according to its annual report. The company hasn’t disclosed the nature of the investigation, although its … Continue reading “CellCyte Settles SEC Investigation”
Archus Orthopedics, Spine Device Maker, Cuts Jobs Amid Financing Squeeze
Archus Orthopedics, the Redmond, WA-based company developing spinal implants to help people remain mobile after back surgery, has laid off most of its 45 employees and significantly scaled back its operations to conserve its remaining cash, Xconomy has learned. The news has surprised many in the Seattle medical device industry, because Archus has a strong … Continue reading “Archus Orthopedics, Spine Device Maker, Cuts Jobs Amid Financing Squeeze”
CarDomain, Trumba Rise in Startup Rankings
Seattle 2.0’s latest startup website rankings show no changes in the top five companies (Zillow, Pet Holdings, iLike, Picnik, BuddyTV), but some strong gains were made by CarDomain (up to #6), Walk Score (#28), Trumba (#32), and Entertonement (#33). The rankings are based on traffic estimates on the websites of Seattle-area technology startups.
Werner Vogels of Amazon on the Future of the Cloud—Quick Hits from OVP Tech Summit
There was a lot of discussion about the top trends in energy, biotech, and computing at last week’s technology summit in Seattle hosted by OVP Venture Partners. The afternoon breakout session on information technology, attended by a few dozen IT leaders, focused on the theme of “big data.” This was all about the opportunities and … Continue reading “Werner Vogels of Amazon on the Future of the Cloud—Quick Hits from OVP Tech Summit”
Bionavitas Pursues Algae Dream in Food Additives, Toxic Cleanup—Then Maybe Biofuel
When most entrepreneurs think of algae, they think of its potential to churn out renewable biofuels. But Bionavitas wants you to think first about dietary supplements. It also has its sights set on cleaning up toxic byproducts from polluters. There are fascinating scientific and economic reasons why the Redmond, WA-based company has crafted this strategy. … Continue reading “Bionavitas Pursues Algae Dream in Food Additives, Toxic Cleanup—Then Maybe Biofuel”
Xori Gets $2.1M From Accelerator
The latest biotech startup from Seattle-based Accelerator, Xori, has received $2.1 million out of a $4.5 million financing round, according to a regulatory filing. The company (pronounced Chore-ee) is testing technology from the lab of Nancy Maizels at the University of Washington, which seeks to develop antibody drugs through a new technique in genetically modified … Continue reading “Xori Gets $2.1M From Accelerator”
Ramgen Power Nabs $20M From Federal Stimulus to Make Coal Cleaner
Bellevue, WA-based Ramgen Power Systems has secured $20 million from the federal stimulus package to develop technology that captures and stores excess carbon emitted by power plants, according to a statement from U.S. Rep. Jay Inslee. Ramgen’s technology seeks to capture and store excess carbon based on compression principles learned from studying supersonic jet engines, … Continue reading “Ramgen Power Nabs $20M From Federal Stimulus to Make Coal Cleaner”
With $4.25M Seed Fund, Alliance of Angels Looks to Take Northwest Investing to “New Level”
Seattle-based Alliance of Angels officially announced its new $4.25 million seed fund this week, which it will invest in early-stage companies alongside individual investors. The Alliance of Angels’ Marty Smith first revealed the fund at the Technology Alliance’s annual luncheon in Seattle on May 1. “AoA continues to actively invest in great local companies and … Continue reading “With $4.25M Seed Fund, Alliance of Angels Looks to Take Northwest Investing to “New Level””
Hydrovolts Wins $50K Zino Green Fund
The Zino Society announced yesterday it has awarded its $50,000 Zino Green Fund to Seattle-based Hydrovolts, the maker of a novel underwater turbine for producing electricity in canals and waterways. Hydrovolts is led by Burt Hamner, who pitched the company at last month’s Zino Society Green Investment Forum.
Northwest Layoff Update: Vidoop, TeachStreet, Pathway, Nokia, Microsoft Cut Staff
Times are still tough out there—and maybe getting tougher—despite faint rumblings of an economic recovery on the horizon. In the past two weeks, young startups and big public companies alike have shed workers in layoffs big and small. Here’s a quick recap of the bloodletting in the Northwest. —Vidoop, a Portland, OR-based maker of online … Continue reading “Northwest Layoff Update: Vidoop, TeachStreet, Pathway, Nokia, Microsoft Cut Staff”
Building a Green Bio-Economy in Washington State
Washington State has an opportunity to be one of the leading national clusters in green technology if it can take advantage of expertise in biotech and information technology. The Washington Biotechnology & Biomedical Association will host a breakfast event to discuss the opportunities. Speakers include Margaret McCormick of Targeted Growth, John Gardner of Washington State … Continue reading “Building a Green Bio-Economy in Washington State”
Nobel Laureate Mario Capecchi Keynote: Northwest Association for Biomedical Research Annual Fundraising Dinner
Nobel Laureate Mario Capecchi, a University of Utah professor, will be the keynote speaker at the Northwest Association for Biomedical Research’s annual fundraising dinner. Capecchi will tell his life story as an orphan during World War II in Italy. For more information on how to register, click here.
ASCO Preview: Seattle Genetics, ZymoGenetics, Trubion & Other Seattle Biotechs Offer Peeks at Cancer Drug Results
The market for cancer drugs is booming, on pace to grow from $66 billion in worldwide sales in 2008 to more than $84 billion by 2012, according to data from Cowen & Company. So if you are a member of the leading association of cancer physicians in the world, then chances are your annual meeting … Continue reading “ASCO Preview: Seattle Genetics, ZymoGenetics, Trubion & Other Seattle Biotechs Offer Peeks at Cancer Drug Results”
SynapticMash, LLC Receives $1,250,000 New Funding
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=1d7156ee-b969-474f-b4c3-45b6f7eb26e8&Preview=1 Date 5/15/2009 Company Name SynapticMash, LLC Mailing Address 1511 3rd Ave. Seattle, WA 98101 Company Description The company develops software. Website http://www.synapticmash.com Transaction Type Venture Equity Transaction Amount $1,250,000 Transaction Round Undisclosed Proceeds Purposes Proceeds purposes were not disclosed. M&A Terms Venture Investor Vantage Partners Venture Investor Undisclosed
Vulcan Capital Gets New Boss
Vulcan Capital, the group that manages billionaire Paul Allen’s investment holdings, has promoted Chris Temple to be its new president, replacing Lance Conn. Temple, who joined Vulcan last year, previously was managing director at Tailwind Capital, a New York-based private equity firm. “Chris is an exceptional talent and has proven a valuable member of our … Continue reading “Vulcan Capital Gets New Boss”
SynapticMash Scores $1.25M
Seattle-based SynapticMash, an educational software and management company, has raised $1.25 million in new funding, according to a regulatory filing. The company, founded in 2007, is led by CEO Ramona Pierson and previously raised $3 million last June. Its board members include Debra Chrapaty, a Microsoft vice president of global foundation services, Bippy Siegel of … Continue reading “SynapticMash Scores $1.25M”
Bill Gates and Paul Allen To Enter Xconomy Battle of the Tech Bands (Sort Of)
Are you ready to rock? We’ve already received quite a few submissions from Seattle-area musicians in the tech and life sciences community who want to compete in the Xconomy Battle of the Tech Bands. The big competition is happening at the WTIA Summer Celebration at the Pyramid Ale House on July 30. (Event details and … Continue reading “Bill Gates and Paul Allen To Enter Xconomy Battle of the Tech Bands (Sort Of)”
Delve Raises $1.65M, Revenues Surge
Seattle-based Delve Networks, an online video publishing and management company, has raised $1.65 million in new funding. According to a regulatory filing, the total offering is $11.3 million, and the investors are Scott Lenet of DFJ Frontier and Mark Klebanoff of Seattle-based Daptiv. Delve, which was co-founded by CEO Alex Castro in 2006 (when it … Continue reading “Delve Raises $1.65M, Revenues Surge”
Cascadia Capital’s New Managing Director, Michael Orbach, on Trends to Watch in IT Deals
Veteran software entrepreneur and investment banker Michael Orbach is joining Seattle-based Cascadia Capital today. As a new managing director in the investment bank, Orbach will focus on mergers and acquisitions, as well as capital raises, in software and services—all in the mid-market range of $20 million to $500 million deals. The new hiring looks to … Continue reading “Cascadia Capital’s New Managing Director, Michael Orbach, on Trends to Watch in IT Deals”
Oncothyreon Cash Will Last 12 Months
Oncothyreon, the Seattle-based developer of cancer drugs, said today that it had $15.4 million in cash and investments at the end of March, according to its quarterly report. The company (NASDAQ: [[ticker:ONTY]]) expects to spend $12 million on operations in 2009, and win a milestone payment from its partner, Merck KGaA, which means it should … Continue reading “Oncothyreon Cash Will Last 12 Months”
Targeted Genetics Faces Extinction, Cell Therapeutics Unloads Debt, Dendreon Raises $221M, & More Seattle-Area Life Sciences News
One consequence of the downturn is that it appears to be widening the gaps between the winners and losers in Seattle biotech. Here’s a rundown of who was up and who was down: —One of the emerging winners, Dendreon (NASDAQ: [[ticker:DNDN]]), raised a fresh $221 million through a public offering underwritten by Deutsche Bank. The … Continue reading “Targeted Genetics Faces Extinction, Cell Therapeutics Unloads Debt, Dendreon Raises $221M, & More Seattle-Area Life Sciences News”
DocuSign, Ontela Win Awards
Seattle startups DocuSign, a digital-signature software firm, and Ontela, which makes a mobile photo-sharing and uploading service, were among the companies named to the “Red Herring 100” last night in San Diego. The award signifies excellence in entrepreneurship and innovation in North American technology companies. The complete list of 200 finalists can be found here.
Accelerator’s New Startup, Xori, Aims to Use Chicken Cells to Make Better Antibody Drugs
Accelerator’s latest company has a vision of turning the world of antibody drug development upside down. The tenth company to roll out of the Seattle-based biotech startup machine, Xori, aims to turn lab dishes of chicken cells into factories for making better, faster, cheaper antibody drugs. Xori also represents the fulfillment of a sort of … Continue reading “Accelerator’s New Startup, Xori, Aims to Use Chicken Cells to Make Better Antibody Drugs”