SolarWorld Industries, whose parent company is based in Bonn, Germany, is cutting 63 positions from its Vancouver, WA facility, according to the Washington State Employment Security Department. SolarWorld says the move is not a reduction in total staff, but rather a transfer of operations to its new manufacturing plant in Hillsboro, OR (which Xconomy reported … Continue reading “SolarWorld Cuts 63 Jobs in WA”
Category: Seattle
Mixpo Raises $4M from Madrona Venture Group, Other Investors
Seattle video-advertising startup Mixpo has raised $4 million in a Series B round of venture funding, as first reported by VentureBeat. The round is being led by existing investor Madrona Venture Group, based in Seattle, and also includes Yaletown Venture Partners and Growthworks Capital. Venture capitalist Matt McIlwain leads Madrona’s involvement with Mixpo. Mixpo was … Continue reading “Mixpo Raises $4M from Madrona Venture Group, Other Investors”
MDRNA Gets $1M Milestone
MDRNA, the Bothell, WA-based biotech company, said today it has received a $1 million milestone payment from San Diego-based Amylin Pharmaceuticals under an amended agreement to develop a nasally-delivered version of exenatide, a diabetes drug. MDRNA, formerly known as Nastech Pharmaceutical, used to specialize in nasal delivery before it switched its strategy in June to … Continue reading “MDRNA Gets $1M Milestone”
Lenovo Buys Switchbox, Ekos Raises $12.5M, nLight Lands $10.7M, & More Seattle-Area Deals News
It was a very busy week for deals in the Northwest—a lot of action in biotech, software, and devices, including a flurry of deals in the Portland area. —Luke reported that Portland, OR-based MolecularMD, a maker of molecular diagnostics for cancer, raised $3 million in new venture funding, led by Ballast Point Venture Partners. MolecularMD … Continue reading “Lenovo Buys Switchbox, Ekos Raises $12.5M, nLight Lands $10.7M, & More Seattle-Area Deals News”
Life Goes On at OVP: It’s a Good Time to Develop Products, and to Bet on Cleantech
OVP is one of the few venture funds that invests in a wide variety of innovations that span from IT to life sciences to cleantech. So Greg and I zipped across the lake yesterday for a wide-ranging conversation with the team at Kirkland, WA-based OVP Venture Partners during their Monday portfolio meeting. They’ve surely seen … Continue reading “Life Goes On at OVP: It’s a Good Time to Develop Products, and to Bet on Cleantech”
Energy R&D Network Proposal Has Seattle, Boston Leaders Eyeing Possibilities
One intriguing idea getting shuttled around President Obama’s inner circle could end up pouring significant cash into the innovation hubs of Seattle and Boston. This idea, hatched at the Brookings Institution in Washington D.C., calls for building a national network of two dozen or more centers of excellence in cleantech R&D, with annual budgets of … Continue reading “Energy R&D Network Proposal Has Seattle, Boston Leaders Eyeing Possibilities”
RNA networks, Inc. Receives $7,000,000 Series A Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=d00afca7-8980-4e09-b784-7dce215749ef&Preview=1 Date 2/3/2009 Company Name RNA networks, Inc. Mailing Address 34 NW 1st Ave Portland, OR 97209 Company Description The customers of RNA networks, inc. run the globe’s most challenging enterprise IT applications, implementing solutions which deliver immediate business benefit. RNA’s products address critical business needs by accelerating applications in datacenter environments … Continue reading “RNA networks, Inc. Receives $7,000,000 Series A Financing”
Merck Nabs Harvard Scientist To Replace Rosetta Founder as Oncology Research Head
Merck is consolidating its cancer research in Boston, and now it has landed an academic research star from Harvard to run the place. The pharmaceutical giant said it has hired D. Gary Gilliland, a renowned Harvard cancer researcher, to be its new senior vice president of Merck Research Labs in charge of its oncology franchise. … Continue reading “Merck Nabs Harvard Scientist To Replace Rosetta Founder as Oncology Research Head”
MolecularMD Raises $3M
MolecularMD, a Portland, OR-based maker of molecular diagnostic tests for cancer, has raised $3 million in a new round of financing, according to data from VentureDeal. The company was founded in 2006 on technology from Brian Druker and Michael Heinrich at Oregon Health & Science University.
Two Paths, One Goal: Motricity, Winshuttle Report Record Software Sales
What recession? Two privately-held software startups on the Eastside announced today they are raking in the dough, boosted by record sales. Besides that common thread, though, they could scarcely be more different. One company (Motricity) is in mobile content delivery, the other (Winshuttle) in business-management software. The first is heavily funded by VCs, the latter … Continue reading “Two Paths, One Goal: Motricity, Winshuttle Report Record Software Sales”
Elemental, In-Q-Tel Ink Deal
Portland, OR-based Elemental Technologies announced today it has signed a strategic partnership and technology development deal with In-Q-Tel, the venture arm of the CIA and the U.S. intelligence community. Financial terms were not disclosed. Elemental makes video processing software that takes advantage of existing graphics chips.
Pathway Medical Tool Shows Early Signs of Emerging as “Real Winner”
It’s still early in the ballgame for Pathway Medical Technologies, but the Kirkland, WA-based medical device maker says demand for its first marketed product—a tool for cleaning out clogged leg arteries—is climbing, and it appears to be on its way to becoming a hit. Pathway is a private company, so chairman Tom Clement doesn’t have … Continue reading “Pathway Medical Tool Shows Early Signs of Emerging as “Real Winner””
UW Startups Have the Tech Part Down, Need Management Talent, Says Janis Machala
It’s been three months since Janis Machala took the helm of LaunchPad, the University of Washington’s support service for UW spinoffs. Her charge: to grow the service into a world-class entrepreneurial assistance program, and to promote the creation of new startups based on university research. I recently dropped in on Machala, a former tech executive … Continue reading “UW Startups Have the Tech Part Down, Need Management Talent, Says Janis Machala”
Mixpo Secures $4,000,000 New Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=b39f0b00-2297-4455-913d-f7bc4d3dc764&Preview=1 Date 2/2/2009 Company Name Mixpo Mailing Address 1809 7th Ave Seattle, WA 98101 Company Description Mixpo is an online video advertising technology company based in Seattle. Meet our highly spirited, seasoned management team and expert board members. Website http://www.mixpo.com Transaction Type Venture Equity Transaction Amount $4,000,000 Transaction Round Undisclosed Proceeds Purposes … Continue reading “Mixpo Secures $4,000,000 New Round”
PayScale Raises $2M for Salary and Compensation Site
Xconomy has learned that Seattle-based PayScale has raised $2 million in a Series C round of venture funding. The investors in this round were not disclosed. A company spokesman confirmed the deal. PayScale was founded in 2000 by Joe Giordano, and in the past has been backed by Fluke Venture Partners, Madrona Venture Group, Trinity … Continue reading “PayScale Raises $2M for Salary and Compensation Site”
Marchex Trims Staff, Reorganizes
Seattle-based Marchex (NASDAQ: [[ticker:MCHX]]), a local search and advertising firm, announced today it is cutting 15 jobs, or 4 percent of its staff, in a restructuring. Marchex also said it is actively adding positions where it needs further skills and resources.
Ebola Fighter, AVI, Raises $16.5M
AVI Biopharma, the Portland, OR-based biotech company, said it has received commitments from investors for $16.5 million in new capital. The company (NASDAQ: [[ticker:AVII]]) is selling 14.2 million shares of common stock at $1.16 a share to select institutional investors, including Eastbourne Capital Management. AVI is developing next-generation treatments that use antisense technology for gene … Continue reading “Ebola Fighter, AVI, Raises $16.5M”
Ekos, Maker of Ultrasound Clot Dissolver, Raises $12.5 Million for Commercial Push
Ekos has been working for more than a decade on a miniature ultrasound probe that slithers inside leg veins, and gently amplifies the effect of drugs that dissolve blood clots. The long slog of research and development is done, the manufacturing is set up, and now Xconomy has learned the Bothell, WA-based company has raised … Continue reading “Ekos, Maker of Ultrasound Clot Dissolver, Raises $12.5 Million for Commercial Push”
WonderGlen Comedy Portal Designed to Plumb Internet’s Unreality, Says Karlin
I outed Ben Karlin. Not that way: he’s straight, at least judging from his mom’s foreword to Things I’ve Learned from Women Who’ve Dumped Me, the 2008 essay collection Karlin edited. I mean I outed him as the creator of WonderGlen, a painfully funny comedy website that appeared out of nowhere last October. Purporting to … Continue reading “WonderGlen Comedy Portal Designed to Plumb Internet’s Unreality, Says Karlin”
UW Starts Program to Train Faculty in the Art of Startups
The University of Washington’s TechTransfer department has launched a new program over the last four months that brings local entrepreneurs into the university to help academic researchers in the early stages of starting a company. This program, which is part of UW’s startup-support service, LaunchPad, matches volunteer entrepreneurs with faculty and other researchers interested in … Continue reading “UW Starts Program to Train Faculty in the Art of Startups”
MolecularMD Lands $3,000,000 New Funding Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=7c1ec71f-dbc7-449c-befe-c95f67915358&Preview=1 Date 1/30/2009 Company Name MolecularMD Mailing Address 2611 SW 3rd Ave. Portland, OR 97201 Company Description Founded in 2006, MolecularMD is a molecular diagnostics company specializing in clinical development and commercialization of state-of-the-art genomic assays to measure patient response and resistance to targeted cancer therapies. The company has over 30 years … Continue reading “MolecularMD Lands $3,000,000 New Funding Round”
PayScale Receives $2,000,000 Series C Funding
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=f659fa75-4b70-4734-a5d4-717abb56cd9a&Preview=1 Date 1/30/2009 Company Name PayScale Mailing Address 316 Occidental Avenue Seattle, WA 98104 Company Description PayScale is a market leader in online compensation and benefit information, providing access to accurate compensation data for both employees and employers. Website http://www.payscale.com Transaction Type Venture Equity Transaction Amount $2,000,000 Transaction Round Series C Proceeds … Continue reading “PayScale Receives $2,000,000 Series C Funding”
Cardiac Dimensions Wins European Clearance to Sell Device for Heart Failure
Cardiac Dimensions did what it said it was going to do. The Kirkland, WA-based medical device company, which we profiled earlier this week, has won permission from European regulators to start selling its first product, a minimally-invasive implanted device to tighten up leaky heart valves. The company has gotten its clearance in Europe through what … Continue reading “Cardiac Dimensions Wins European Clearance to Sell Device for Heart Failure”
UW Tech Transfer Snaps Up RealNetworks Lawyer, Microsoft Licensing Guru
Linden Rhoads, the high-tech entrepreneur hired last summer to help the University of Washington spin out more innovations into the business world, is bringing in new blood from the corporate world into key staff roles at her office. The UW has recruited Todd Alberstone of RealNetworks, and Ed Cummings of Microsoft to join the TechTransfer … Continue reading “UW Tech Transfer Snaps Up RealNetworks Lawyer, Microsoft Licensing Guru”
Switchbox Bought by Lenovo
Seattle consumer-tech startup Switchbox Labs has been acquired by Lenovo, the personal computer maker, for an undisclosed price. Switchbox co-founders Michael Sievert, Robert Dickinson, and Blake Ramsdell will join Lenovo. Sievert was previously a Windows vice president at Microsoft.
CMC Icos Cuts 7.5% of Workforce
CMC Icos Biologics, a contract manufacturer of biotech drugs in Bothell, WA, has cut 11 jobs, or about 7.5 percent of its workforce, a company spokesman confirmed. CMC Icos will now have about 130 employees. It’s the second recent sign of hunkering down at CMC Icos: last month it said it is postponing plans to … Continue reading “CMC Icos Cuts 7.5% of Workforce”
From Starbucks to Startups: Rob Grady’s Take on What Coffee and Web 2.0 Have in Common
Coffee is so last year. Just ask Rob Grady, the former Starbucks executive who joined Seattle-based social publishing startup Wetpaint as senior vice president of marketing earlier this month. OK, Grady still enjoys a triple tall Americano or a double tall nonfat caramel macchiato from time to time—his new favorite Starbucks is in the Wells … Continue reading “From Starbucks to Startups: Rob Grady’s Take on What Coffee and Web 2.0 Have in Common”
Seattle Genetics Raises Dough, Trubion Feels Fallout of Pfizer Deal, Novo Sets Up Shop, & More Seattle-Area Life Sciences News
The great fear in biotech, one Boston-based executive told me a couple weeks ago, is that the markets have turned so dark that fundamentals no longer matter. The idea is that a company could show its drug really works, but the stock still won’t fly. At least one company in our neck of the woods, … Continue reading “Seattle Genetics Raises Dough, Trubion Feels Fallout of Pfizer Deal, Novo Sets Up Shop, & More Seattle-Area Life Sciences News”
PayScale Lands $2,000,000 Series C Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=f659fa75-4b70-4734-a5d4-717abb56cd9a&Preview=1 Date 1/29/2009 Company Name PayScale Mailing Address 316 Occidental Avenue Seattle, WA 98104 Company Description PayScale is a market leader in online compensation and benefit information, providing access to accurate compensation data for both employees and employers. Website http://www.payscale.com Transaction Type Venture Equity Transaction Amount $2,000,000 Transaction Round Series C Proceeds … Continue reading “PayScale Lands $2,000,000 Series C Financing”
Intellectual Ventures Buys Transmeta Patents
Bellevue, WA-based Intellectual Ventures announced today it has acquired the patent portfolio of Santa Clara, CA-based semiconductor firm Transmeta. Financial terms of the deal were not disclosed, but Intellectual Ventures gains more than 140 U.S. patents and a “substantial number of pending patent applications,” according to a company statement. Transmeta was acquired by Novafora for … Continue reading “Intellectual Ventures Buys Transmeta Patents”
Omeros Grabs $3.1M
Omeros, the privately held Seattle-based drug developer, said today it received $3.1 million in equity financing and grants from The Stanley Medical Research Institute to continue animal testing of a treatment for schizophrenia. Omeros previously received $2.6 million from the institute when it reached an agreement to begin the schizophrenia work in December 2006. Earlier … Continue reading “Omeros Grabs $3.1M”
Boeing Clips Its Own Wings
Boeing is cutting about 10,000 jobs this year, or 6 percent of its workforce, according to chief executive James McNerney. The news was announced in a conference call this morning. Boeing cited decreased revenues and the global economy as reasons for the cutbacks, which will occur through a combination of layoffs, retirements, and attrition. More … Continue reading “Boeing Clips Its Own Wings”
Microsoft, Sharp, UW Led Washington in 2008 Patents Issued—Here Are the Top 25
[Updated Jan. 28, with information on Intellectual Ventures’ patents (see below)] If its volume of new patents is any indication, Microsoft is going to be just fine. The Redmond, WA, software firm blew away the rest of Washington state in terms of the number of patents it was granted last year. That’s according to IFI … Continue reading “Microsoft, Sharp, UW Led Washington in 2008 Patents Issued—Here Are the Top 25”
Seattle Genetics Raises $55M
Seattle Genetics, the Bothell, WA-based developer of cancer drugs, said today it has raised $55.8 million by selling 5.74 million new shares of stock. The company also agreed to sell another 1.17 million shares to Baker Brothers Life Sciences, its largest stockholder, at the same price, which would generate another $11.5 million if approved by … Continue reading “Seattle Genetics Raises $55M”
ZymoGenetics Takes Back Full Rights to Cancer Drug Candidate
ZymoGenetics has gotten back full commercial rights to its lead cancer drug in development. The Seattle-based biotech company (NASDAQ: [[ticker:ZGEN]]) is announcing today it is buying back the commercial rights from Denmark-based Novo Nordisk to the IL-21 cancer drug candidate in territories outside North America, which could free up ZymoGenetics to sign a global partnership … Continue reading “ZymoGenetics Takes Back Full Rights to Cancer Drug Candidate”
Riding the Diabetes Wave, Novo Nordisk Sees Chance to Scoop Up Biotech Talent in Seattle
Diabetics can’t just quit taking insulin when the economy takes a nosedive. So if you’re the world’s largest producer of insulin for a chronic, and growing, medical condition, your outlook on life isn’t that bad right now. That’s the enviable position of Novo Nordisk, the Danish drugmaker, and part of the reason why it feels … Continue reading “Riding the Diabetes Wave, Novo Nordisk Sees Chance to Scoop Up Biotech Talent in Seattle”
Omeros Corporation Receives $3,100,000 New Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=66468136-28e5-4050-bb29-a34baa294e07&Preview=1 Date 1/28/2009 Company Name Omeros Corporation Mailing Address 1420 Fifth Avenue Seattle, WA 98101 Company Description Omeros recognized that a combination of agents acting on multiple molecular targets may be required for optimal therapeutic effect. Omeros’ product candidates are designed to modulate the molecular mechanisms of pathologic conditions rather than just … Continue reading “Omeros Corporation Receives $3,100,000 New Round”
The Onyx Connection: Seattle-Area Software Firm Spawns 13 CEOs
The Seattle tech family tree spreads far and wide. This morning, my San Diego-based colleague Bruce Bigelow published a story about Covario, a search engine marketing firm backed in part by Seattle’s Voyager Capital. The other Seattle connection there is that Covario’s CEO, Russ Mann, worked for Bellevue, WA-based Onyx Software in the glory days … Continue reading “The Onyx Connection: Seattle-Area Software Firm Spawns 13 CEOs”
Verdiem, Cisco Pair Up to Save Power
Cisco Systems announced today the release of software developed in partnership with Seattle-based Verdiem to automatically save energy in idling computers, phones, networked devices, and eventually, whole buildings. The first version of the product will be available in February as a free upgrade to Cisco’s network switch, to manage energy usage of IP devices. Next … Continue reading “Verdiem, Cisco Pair Up to Save Power”
nLight Raises $10.7M
nLight, the Vancouver, WA-based developer of high-powered semiconductor lasers, said it has raised $10.7 million in the first closing of a new round of equity financing. The cash came from existing investors Oak Investment Partners, Mohr Davidow Ventures, and Menlo Ventures. The money will be used to continue developing integrated laser modules, and boost sales … Continue reading “nLight Raises $10.7M”
Micronics to Roll Out Pocket-Sized Malaria, E. coli Tests This Year
Micronics has been around since 1996, so it hardly qualifies as a startup anymore. But the Redmond, WA-based biotech company has been moving in new directions over the last few years, and is now getting ready to bring its first diagnostic tests to the market. The 28-person company has been in the microfluidics business—the design … Continue reading “Micronics to Roll Out Pocket-Sized Malaria, E. coli Tests This Year”
Top Five Venture Deals From Last Quarter, PetraVM Pulls In $1.5M, Maveron Backs TheWrap, & More Seattle-Area Deals News
After a relatively slow week, the deals picked up a bit in the Northwest during the presidential inauguration week. There was modest activity in software, media, and vaccines. —Xconomy broke the news that PetraVM, a University of Washington software startup, raised $1.5 million in Series A funding from Seattle-based Madrona Venture Group and WRF Capital. … Continue reading “Top Five Venture Deals From Last Quarter, PetraVM Pulls In $1.5M, Maveron Backs TheWrap, & More Seattle-Area Deals News”
Pfizer’s Bid For Wyeth Sends Ripples Through Trubion Pharmaceuticals, Seattle Biotechs
Pfizer rocked the business world yesterday with its $68 billion bid to acquire Madison, NJ-based Wyeth (NYSE: [[ticker:WYE]]), and the ripple effect was felt here in the Northwest. Nobody in town has a bigger stake in this deal than Seattle-based Trubion Pharmaceuticals (NASDAQ: [[ticker:TRBN]]). Trubion’s lead drug candidate for rheumatoid arthritis, TRU-015, has been part … Continue reading “Pfizer’s Bid For Wyeth Sends Ripples Through Trubion Pharmaceuticals, Seattle Biotechs”
nLight Garners $10,700,000 New Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=d24ec6ab-034b-4787-9946-514ccd57f4c7&Preview=1 Date 1/27/2009 Company Name nLight Mailing Address 5408 NE 88th Street, Building E Vancouver, WA 98665 Company Description nLight develops and manufactures industry leading high-power semiconductor diode laser components and subsystems. nLight’s products feature unparalleled power, brightness, and reliability and enable a broad range of laser-based products in the industrial, medical, … Continue reading “nLight Garners $10,700,000 New Financing”
NASA Astronaut Remembrance Weekend: Bonnie Dunbar Special Program
In conjunction with NASA’s Day of Remembrance and the Museum’s exhibit The Berlin Airlift-A Legacy of Friendship, the President and CEO of The Museum of Flight and retired NASA Astronaut, Dr. Bonnie J. Dunbar will present a special program at the Museum on Feb. 1 at 2 p.m. The lecture is part of “NASA Astronaut … Continue reading “NASA Astronaut Remembrance Weekend: Bonnie Dunbar Special Program”
Alliance of Angels: 10-Minute Pitch Clinic
Alliance of Angels is hosting its 10 Minute Pitch Clinic, an educational event tailored specifically to entrepreneurs on how to effectively pitch a startup business plan to angel investors. The clinic will include an overview of the Alliance of Angels’ rigorous four-step process, in-depth review of the components of a good pitch, and, an interactive … Continue reading “Alliance of Angels: 10-Minute Pitch Clinic”
Buying Time With Suspended Animation: Dana Miller of the Hutch
Dana L. Miller, a researcher at the Fred Hutchinson Cancer Research Center in Seattle, will give a talk about “Buying Time with Suspended Animation” as part of the regular Science on Tap lecture series. For more information on Science on Tap, click here.
Maveron Funds TheWrap.com
Seattle-based Maveron has led an investment in TheWrap.com, a Hollywood, CA-based news site covering the entertainment and media business. Financial terms of the deal were not disclosed. TheWrap.com debuted today.
Bill Gates’s First Annual Letter on Life at the Foundation: “I Love the Work”
Bill Gates says he loves his new job at his charitable foundation. The co-founder of Microsoft says so this morning in his first annual letter, posted online, sizing up his nonprofit work. Gates left his full-time job at Microsoft in June, to devote his full attention to the Bill & Melinda Gates Foundation, the world’s … Continue reading “Bill Gates’s First Annual Letter on Life at the Foundation: “I Love the Work””
Top Three Trends in Angel Capital, from Seattle Investor Geoff Entress
Have angel investors become the new venture capitalists? Earlier this month, my colleague Wade Roush reported on a presentation by James Geshwiler of the Boston-area group CommonAngels about the changing nature of angel investing. Between Geshwiler’s comments and what I’ve been hearing around Seattle, it seems like the dynamic between angels and VCs has shifted … Continue reading “Top Three Trends in Angel Capital, from Seattle Investor Geoff Entress”