Category: Seattle

Gov. Gregoire’s Baby, $350M Life Sciences Discovery Fund, Faces Possible Shutdown

[[Updated at 11:10 am Pacific with comment from Governor’s spokesman]] One of the centerpieces of Gov. Chris Gregoire’s economic development strategy, the state’s 10-year, $350 million Life Sciences Discovery Fund, would either be gutted or essentially shut down by dueling budget bills under consideration by state lawmakers, Xconomy has learned. This pot of money, which … Continue reading “Gov. Gregoire’s Baby, $350M Life Sciences Discovery Fund, Faces Possible Shutdown”

UW Business Plan Competition Draws 33 Teams With Ideas for Software, Energy, Healthcare

The ballots are in, and the University of Washington’s annual Business Plan Competition is officially under way. The Center for Innovation and Entrepreneurship at the Foster School of Business has run the event for the past 11 years, awarding some $757,000 in prize money to 71 student companies that have crafted the most compelling and … Continue reading “UW Business Plan Competition Draws 33 Teams With Ideas for Software, Energy, Healthcare”

MOD Systems Places Two Top Execs on Leave After Fraud Allegations

Seattle-based MOD Systems, a maker of music and video downloading technology for retail stores, placed its chief executive, Mark Phillips, and chief operating officer, Kenneth Gordon, on administrative leave Friday. I heard a rumor about this move over the weekend, and TechFlash confirmed the news yesterday, adding some important details. A phone message left with … Continue reading “MOD Systems Places Two Top Execs on Leave After Fraud Allegations”

Ambric Acquired by Nethra Imaging

Santa Clara, CA-based Nethra Imaging announced it has acquired the assets of Ambric, the Beaverton, OR, semiconductor company that ceased operations last November. Financial terms were not disclosed. Ambric developed software-programmable chips used in video coding, wireless base stations, and imaging. It was backed by OVP Venture Partners, Northwest Technology Ventures, and others.

Microsoft Sells Franchise Gator for $20M

Microsoft’s digital advertising division has sold off its subsidiary, Franchise Gator, to Landmark Interactive for about $20 million, as first reported by PaidContent.org. Microsoft has confirmed the sale but not the price, according to TechFlash. Franchise Gator, a lead-generation business based in Seattle and Roswell, GA, was acquired for $21.5 million in 2006 by aQuantive, … Continue reading “Microsoft Sells Franchise Gator for $20M”

Swype Scores $1.3M, Onehub Raises $600K, Genzyme Comes to Town, & More Seattle-Area Deals News

It was a fairly quiet week for Northwest deals, with activity in biotech, software, and mobile. Let’s see if the sunny weather brings more action. —Seattle Genetics (NASDAQ: [[ticker:SGEN]]), a Bothell, WA-based developer of cancer drugs, provided a worldwide license to use its technology to Millennium: The Takeda Oncology Company in exchange for $4 million … Continue reading “Swype Scores $1.3M, Onehub Raises $600K, Genzyme Comes to Town, & More Seattle-Area Deals News”

Antibodies for HIV, Long Dismissed, Show Signs of Comeback at Seattle’s Theraclone

One of the great riddles of modern medicine is why a few rare individuals who get infected with HIV retain a strong enough immune defense to naturally fight off the virus in all its nefarious strains. Some of these people are prostitutes in Africa, they never take an expensive cocktail of antiviral drugs, and they … Continue reading “Antibodies for HIV, Long Dismissed, Show Signs of Comeback at Seattle’s Theraclone”

Raising Money When There Isn’t Any: WBBA Breakfast

This event will bring together experts to discuss sources of financing for biotechnology companies beyond the traditional venture capital investment model. Speakers will include Sonya Erickson of Cooley Godward, Kirk Schumacher of Seattle Genetics, and Chad Waite of OVP Venture Partners. Tickets are $35 for WBBA members, and $60 for non-members. For more information on … Continue reading “Raising Money When There Isn’t Any: WBBA Breakfast”

A New Window on Influenza and AIDS: Alan Aderem at Town Hall

Alan Aderem, a world leader in immunology and co-founder of the Institute for Systems Biology in Seattle, will discuss his research into understanding how the immune system fights infections, and how these insights will lead to better strategies to combat pandemic infectious diseases. Tickets are $5 and are available online or by calling 800-838-3006 and … Continue reading “A New Window on Influenza and AIDS: Alan Aderem at Town Hall”

Seattle Genetics, Millennium Do Deal

Seattle Genetics, the Bothell, WA-based developer of cancer drugs, said today it licensed its technology to Millennium: The Takeda Oncology Company. Seattle Genetics (NASDAQ: [[ticker:SGEN]]) will get $4 million upfront for a worldwide license to use technology that combines antibodies that seek out tumors, with toxins that can make them more potent. Millennium will pay … Continue reading “Seattle Genetics, Millennium Do Deal”

Biotech Neighbors, VLST and Novo Nordisk, Forge Alliance in Seattle’s South Lake Union

One of the things we believe at Xconomy is that innovation happens in geographic clusters, especially when people can easily interact across multiple disciplines. I got a sense of how one of those important interactions is starting to blossom in pockets of a massive construction zone otherwise known as Seattle’s South Lake Union. Smack in … Continue reading “Biotech Neighbors, VLST and Novo Nordisk, Forge Alliance in Seattle’s South Lake Union”

Washington’s State Budget and Washington State’s Competitiveness

I’d like to throw out a few factoids for your consideration: 1. Washington is a high-tech state. For example, we rank 4th among the 50 states in the number of individuals in science and engineering occupations, as a proportion of our workforce. 2. However, most of these high-tech workers are imported from other states. We … Continue reading “Washington’s State Budget and Washington State’s Competitiveness”

Optimum Energy Wants Buildings to Use More Software, Waste Less Power

If you work in a commercial building, you’re probably familiar with the vagaries of large-scale heating and cooling systems. Hear that whir click on and cold air suddenly gusting through the vents? That’s the sound of your building hemorrhaging money and energy. Seattle cleantech software company Optimum Energy wants to stanch the energy drain of … Continue reading “Optimum Energy Wants Buildings to Use More Software, Waste Less Power”

Pacific Northwest Clean Tech Open Kickoff

The Clean Tech Open, a nonprofit organization formed in 2006 to spur innovation in clean energy, is organizing its first business plan competition in the Pacific Northwest region, which includes Washington, Oregon and Idaho. The competition aims to provide entrepreneurs with business training, services and insights they need to go to market successfully. Three winners … Continue reading “Pacific Northwest Clean Tech Open Kickoff”

Dendreon Saga Heads Toward Climax, As Cancer Drug Aims to Prove It Prolongs Lives

Dendreon has all the ingredients of a Hollywood thriller: Life and death on the line. Millions of dollars at stake. Fast money in the stock market. Cutting-edge technology that aspires to achieve the impossible. The Seattle biotech company (NASDAQ: [[ticker:DNDN]]) has gone through a riveting set of twists and turns over the past two years, … Continue reading “Dendreon Saga Heads Toward Climax, As Cancer Drug Aims to Prove It Prolongs Lives”

Seattle Layoff Update: Exide, Expedia, Impinj, Sun Trim Staff; MSN Encarta, Trusera to Close

In the past couple of weeks, we’ve seen further bloodletting in terms of area tech-company layoffs and closures. It really is brutal out there. Here is a quick recap: —Exide Technologies (NASDAQ: [[ticker:XIDE]]), a maker of batteries and energy storage devices in Alpharetta, GA, closed its facility in Sumner, WA, and laid off 43 workers … Continue reading “Seattle Layoff Update: Exide, Expedia, Impinj, Sun Trim Staff; MSN Encarta, Trusera to Close”

Spotlight on Startups: Finalists for Seattle 2.0 and CNET Webware Awards Announced

‘Tis the season for Seattle startup awards. This week, the finalists have been announced for two separate sets of techie awards—one local, one national. If nothing else, the awards call much-deserved attention to the efforts of some very busy companies around town that we follow closely here at Xconomy. —Finalists for Marcelo Calbucci’s Seattle 2.0 … Continue reading “Spotlight on Startups: Finalists for Seattle 2.0 and CNET Webware Awards Announced”

Will Hunch Help You Make Decisions? Signs Point to Yes

Last week I wrote about Twitter, a flawed and difficult-to-grasp social media technology that nonetheless becomes addictive once you get the hang of it—so much so that it’s quickly changing the way many people communicate. This week I’m going to write about Hunch, a flawed and difficult-to-grasp social media technology that nonetheless becomes addictive once … Continue reading “Will Hunch Help You Make Decisions? Signs Point to Yes”

Swype Scores $1.3M for Text-Input Tech

Seattle-based Swype, a maker of text-input technology for mobile devices, has closed a $1.3 million funding round from angel investors and company management, according to TechFlash. Swype’s software lets you enter text by tracing a path on a touch-screen keyboard using a stylus or your fingertip.

Skytap, With New VC Bucks in Tow, Takes on Big Boys in the Cloud

A couple of weeks ago, we reported on Seattle startup Skytap’s $7 million funding round. It’s one of the Northwest’s bigger venture deals of the year, and the company is a pretty interesting play in the cloud computing space, so I figured it was worth a closer look. Especially given all the hubbub about cloud … Continue reading “Skytap, With New VC Bucks in Tow, Takes on Big Boys in the Cloud”

PATH Moving to South Lake Union

PATH, the nonprofit that works to improve health in developing countries, said it is planning to move its headquarters from Seattle’s Ballard neighborhood to larger space in South Lake Union. The organization intends to lease 111,000 square feet on three floors in the 2201 Westlake building being developed by Paul Allen’s Vulcan company. PATH, which … Continue reading “PATH Moving to South Lake Union”

HydroSense, With Plan to Conserve Water, Wins UW Environmental Business Competition

University of Washington president Mark Emmert told a group of local business leaders last fall that two issues, above all others, can rally the intellectual energy of the institution’s students and faculty—environmental sustainability and global health. Yesterday, some of those students and researchers showed off their best business ideas for the environment and competed for … Continue reading “HydroSense, With Plan to Conserve Water, Wins UW Environmental Business Competition”

UW’s Protein Guru, David Baker, Eyes Alternative Biofuels, Vaccines in New 3-D Structures

David Baker’s parents were both scientists at the University of Washington, and growing up, he figured that was the last thing he’d ever want to be. Yet after a couple of intriguing detours, his life path has led him right back to the UW campus. It’s there that he has carved out his own path … Continue reading “UW’s Protein Guru, David Baker, Eyes Alternative Biofuels, Vaccines in New 3-D Structures”

Genzyme Enters Seattle Hub, Oncothyreon Bets on Cancer Drugs, Pathway Nabs $40M, & More Seattle-Area Life Sciences News

The local biotech scene was busy again this week at Xconomy, with breaking news about one of the world’s biggest biotech companies (Genzyme) coming to town, a local medical device leader attracting $40 million in venture capital (Pathway Medical Technologies), and an exclusive feature about how one publicly traded company in Seattle (Oncothyreon) has switched … Continue reading “Genzyme Enters Seattle Hub, Oncothyreon Bets on Cancer Drugs, Pathway Nabs $40M, & More Seattle-Area Life Sciences News”

Onehub Secures $600,000 New Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=8b278c38-be0b-4138-8fc0-a1a4317588bf&Preview=1 Date 4/2/2009 Company Name Onehub Mailing Address 3380 146th Pl SE Bellevue, WA 98007 Company Description Onehub is a web application that provides everything you need to easily and securely share business information and files with partners, customers, coworkers, and suppliers. Onehub is not your typical complicated collaboration software. Instead, it’s … Continue reading “Onehub Secures $600,000 New Round”

Swype Obtains $1,300,000 New Funding Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=03fd9e17-8375-44ae-b717-d9fbf797ae7d&Preview=1 Date 4/2/2009 Company Name Swype Mailing Address 3401 Fremont Avenue North Seattle, WA 98103 Company Description Swype is a maker of text-input technology for mobile devices. Website http://www.swypeinc.com/ Transaction Type Venture Equity Transaction Amount $1,300,000 Transaction Round Undisclosed Proceeds Purposes Proceeds purposes were not disclosed. M&A Terms Venture Investor Undisclosed

Anything But Ordinary: Bonanzle Aims To Be the Social Site for Buying and Selling Niche Items

First off, please don’t call it an eBay competitor. Sure, it’s in the online marketplace space, but it’s going after a specialized segment with a different approach. The startup is called Bonanzle, it’s based in Kirkland, WA, and it has one of the most promising trajectories of any young company in the Northwest. Bottom line: … Continue reading “Anything But Ordinary: Bonanzle Aims To Be the Social Site for Buying and Selling Niche Items”

Sun, Exide Lay Off Staff

Sun Microsystems (NASDAQ: [[ticker:JAVA]]) has laid off 24 workers in Bellevue, WA, effective May 30, 2009, according to a notice from the Washington State Employment Security Department. Meanwhile, Exide Technologies (NASDAQ: [[ticker:XIDE]]), a maker of batteries and other energy-storage devices, has closed its facility in Sumner, WA, and has laid off 43 workers, effective immediately.

Clearwire Brings WiMax to More Devices

Kirkland, WA-based Clearwire Communications, a subsidiary of Clearwire (NASDAQ: [[ticker:CLWR]]), has rolled out an accessory to allow Wi-Fi devices to connect to broadband Internet via the company’s mobile WiMax service. The battery-powered router creates a personal, mobile Wi-Fi hotspot to provide faster connections for iPhones, BlackBerries, MP3 players, digital cameras, and other devices.

Big Drop in 1Q M&A Deals for VC-Backed Companies, IPO Drought Continues

We know there’s been a serious decline in exits for venture capitalists and their portfolio companies for the past year or more. Now two separate studies—one from Dow Jones VentureSource and the other done by the National Venture Capital Association (NVCA) and Thomson Reuters—show just how abysmal M&A and IPO activities were in the first … Continue reading “Big Drop in 1Q M&A Deals for VC-Backed Companies, IPO Drought Continues”

MDRNA Sells Osteoporosis Drug

MDRNA, the Bothell, WA-based developer of drugs using RNA interference technology, said today it has sold its assets related to a nasal spray drug for osteoporosis to Par Pharmaceutical. MDRNA (NASDAQ: [[ticker:MRNA]]) will receive an undisclosed upfront cash payment, and a double-digit percentage royalty on sales of the product, a generic form of calcitonin-salmon nasal … Continue reading “MDRNA Sells Osteoporosis Drug”

Google’s Cloud Computing Platform Aims to Fuel Growth of Web Applications, Users, Revenues

[Updated April 5 with a correction: Google’s Mike Repass is based in San Francisco, not Seattle] On Monday evening, I stopped by a talk on “Google’s world view of cloud computing,” organized by the Washington Technology Industry Association as part of its series of events on this emerging IT trend. The first event we covered, … Continue reading “Google’s Cloud Computing Platform Aims to Fuel Growth of Web Applications, Users, Revenues”

Ignition’s Brad Silverberg Says No Company Split, Just Different Funds

Xconomy reported yesterday that Bellevue, WA-based Ignition Partners has split into separate management organizations with the formation of downtown Seattle-based Ignition Capital, which is focused on growth-stage and private equity investments. Reached by e-mail, Ignition Partners co-founder Brad Silverberg says that Ignition is still one firm, with three complementary funds. That’s despite the fact that … Continue reading “Ignition’s Brad Silverberg Says No Company Split, Just Different Funds”

Genzyme Acquires Three Cancer Drugs From Bayer, Enters Seattle Biotech Hub

[[Updated: 4:50 pm Eastern time]] Genzyme, the world’s largest maker of drugs for rare genetic diseases, is making a big move into broader diseases like cancer and multiple sclerosis to continue fuelling its growth. The Cambridge, MA-based biotech company said today it is acquiring three drugs from Germany-based Bayer AG, including one that gives Genzyme … Continue reading “Genzyme Acquires Three Cancer Drugs From Bayer, Enters Seattle Biotech Hub”

Goodbye Cancer Vaccines, Hello Cancer Drugs: Oncothyreon Reinvents Itself

Cancer vaccines still have the power to captivate the public imagination, but Bob Kirkman isn’t betting his company on them anymore. The CEO of Seattle-based Oncothyreon has reinvented this little biotech firm in a way that puts a pair of experimental cancer drugs, not vaccines, on the corporate front burner. Kirkman learned from hard knocks … Continue reading “Goodbye Cancer Vaccines, Hello Cancer Drugs: Oncothyreon Reinvents Itself”

Pathway Raises $40M, Bsquare Brings Flash to Android, Vioguard Hits Up Angels, & More Seattle-Area Deals News

It was another relatively slow week for deals in the Northwest—with a very notable exception being the largest venture capital deal of the year to date (see below). —Xconomy broke the news of the Northwest’s biggest venture deal of 2009 so far: Kirkland, WA-based Pathway Medical Technologies’ $40 million financing led by Amsterdam-based Forbion Capital … Continue reading “Pathway Raises $40M, Bsquare Brings Flash to Android, Vioguard Hits Up Angels, & More Seattle-Area Deals News”

Microsoft Closes Book on Encarta

Microsoft (NASDAQ: [[ticker:MSFT]]) announced today it is shutting down MSN Encarta, its online encyclopedia, as of October 31, 2009. The news was first reported by Ars Technica. Microsoft says, “The category of traditional encyclopedias and reference material has changed”—which seems to refer to online sites like Wikipedia and Google—and that the company will “develop future … Continue reading “Microsoft Closes Book on Encarta”

Spaltudaq Now Theraclone Sciences

Spaltudaq (SPAHL-too-dack), the Seattle-based maker of genetically engineered antibody drugs, has changed its name to Theraclone Sciences. Founder Johnny Stine, a member of the Snohomish tribe, gave the company its original name after a healing ceremony once performed by his ancestors in the Puget Sound region to make sure people don’t die before their time. … Continue reading “Spaltudaq Now Theraclone Sciences”

Greed Is Good, and Other Takeaways from Xconomy’s Cleantech Forum

Last Thursday, we hosted a fantastic event on energy innovation at K&L Gates in downtown Seattle. The panel discussion—moderated by Michael Butler of Cascadia Capital and featuring Mark Aggar of Microsoft, Jesse Berst of Global Smart Energy, Jeremy Jaech of Verdiem, and Linden Rhoads of UW Tech Transfer—did not disappoint in its edgy treatment of … Continue reading “Greed Is Good, and Other Takeaways from Xconomy’s Cleantech Forum”

Ignition Capital Splits from Ignition Partners, Focuses on Private Equity

Xconomy has learned that three venture partners from Bellevue, WA-based Ignition Partners have formed a separate management company called Ignition Capital, and are working from new offices in downtown Seattle on private equity and late-stage investments. Jon Anderson, Rich Tong, and John Zagula are managing directors of Ignition Capital, whose fund is “focused on profitable … Continue reading “Ignition Capital Splits from Ignition Partners, Focuses on Private Equity”

Seattle Genetics Gets Fast Track

Seattle Genetics, the Bothell, WA-based cancer drug developer, said today it has received “Fast Track” designation from the FDA for the pivotal trial of its SGN-35 drug for Hodgkin’s disease. The designation, which the FDA provides to potentially life-saving therapies, will allow Seattle Genetics (NASDAQ: [[ticker:SGEN]]) to submit data in its application on a rolling … Continue reading “Seattle Genetics Gets Fast Track”

Indel Therapeutics Aims High With New Class of Antibiotics to Fight Hospital Infections

Most biotech stories in 2009 are about companies hunkering down or otherwise playing it safe with incremental advances, not people just getting started with an audacious dream. Malcolm Kendall has one of those dreams. He’s starting a company that aims to identify new targets on cells that haven’t been proven before, and create antibiotics to … Continue reading “Indel Therapeutics Aims High With New Class of Antibiotics to Fight Hospital Infections”

Ex-Microsoft Innovators: Raikes, Ranta, Howard, and Ferroni on the Startup Trail

We’re hearing about an increasing number of startups founded or backed by ex-Microsoft employees from many different backgrounds and levels of experience. The uptick seems to be a relatively recent trend, and it could be a good sign in otherwise tough times. Here’s a recap from the past couple of weeks. —Jeff Raikes, the former … Continue reading “Ex-Microsoft Innovators: Raikes, Ranta, Howard, and Ferroni on the Startup Trail”

NW Bio-Educators Get $1.3.M From NSF

The Northwest Association for Biomedical Research, a Seattle-based nonprofit organization that supports science education, has been awarded a three-year grant for $1.3 million from the National Science Foundation. The grant, called Bio-ITEST, will be used to help secondary school teachers and students understand how IT is used in biomedical research. “This grant will help make … Continue reading “NW Bio-Educators Get $1.3.M From NSF”