Category: Seattle

Arch Co-founder Bob Nelsen’s Historic Close-Up with President-Elect Obama, and the Tears of Jesse Jackson

Bob Nelsen had a front-row seat to history on Election Night. The Republican managing director of Arch Venture Partners in Seattle was literally at the front of the rally in Chicago’s Grant Park on Tuesday as Democrat Barack Obama was elected as the nation’s first African-American president. “I was 20 feet from Obama, and about … Continue reading “Arch Co-founder Bob Nelsen’s Historic Close-Up with President-Elect Obama, and the Tears of Jesse Jackson”

Ruling to Block “Business Method” Patents May Spur Innovation, Say Entrepreneurs and Investors

It’s what everyone has been talking about lately. No, not the election—software patent reform. (Bear with me, non-IP folks.) Last Thursday, the U.S. Court of Appeals for the Federal Circuit rejected a patent application from a company called WeatherWise for a method of managing the risk involved with energy costs. The court ruled that in … Continue reading “Ruling to Block “Business Method” Patents May Spur Innovation, Say Entrepreneurs and Investors”

Announcing Xconomy’s First Event in Seattle: Vaccines 2.0

The Seattle area has one of the world’s strongest concentrations of global health research, with much of it being fueled by the Bill & Melinda Gates Foundation. Vaccines are one of the primary tools being studied here to fight leading killers around the world, like malaria and tuberculosis. Yet these products have long been a … Continue reading “Announcing Xconomy’s First Event in Seattle: Vaccines 2.0”

Tysabri’s Roots at the “Hutch,” MediQuest Spurned by FDA, ZymoGenetics Drug Passes Test, & More Seattle-Area Life Sciences News

Last week brought another mixed bag of news from Seattle biotech. —Tysabri. The most effective drug on the market for multiple sclerosis isn’t sold by a Seattle biotech company, but it has its origins in a lab here at the Fred Hutchinson Cancer Research Center. —ZymoGenetics had yet another good news/bad news week. The Seattle … Continue reading “Tysabri’s Roots at the “Hutch,” MediQuest Spurned by FDA, ZymoGenetics Drug Passes Test, & More Seattle-Area Life Sciences News”

Targeted Genetics Cash Will Stretch into First Quarter

Targeted Genetics, a Seattle-based developer of gene therapies, said today that it only has enough cash to run its operations into the first quarter of 2009. Targeted (NASDAQ: [[ticker:TGEN]]) said it had $9.2 million in cash and investments left at the end of September, and that it estimates it will spend $11.5 million to $12.5 … Continue reading “Targeted Genetics Cash Will Stretch into First Quarter”

Northstar, Conserving Cash, Will Have $66M in Cash at Year-End

Northstar Neuroscience, a Seattle-based maker of a brain-stimulation device for severe depression, said today it had $70.2 million in cash and investments at the end of September, and that it expects to end this year with $66 million on hand, and close 2009 with $53 million. The company (NASDAQ: [[ticker:NSTR]]) has cut costs and switched … Continue reading “Northstar, Conserving Cash, Will Have $66M in Cash at Year-End”

Election Results Will Boost Employee Productivity, But Healthcare Costs May Climb

You are now going to see productivity improve at high tech companies because people will no longer have an excuse to sit around and complain about Bush. High tech employees generally seem to lean towards President-Elect Obama so morale is likely to increase as well, increasing productivity. More seriously, in Washington State, we’re going to … Continue reading “Election Results Will Boost Employee Productivity, But Healthcare Costs May Climb”

Historic Obama Win Also Sets Web Traffic Records

At 11:00 pm Eastern time last night—when the polls closed on the U.S. West Coast and most TV news outlets called the election in favor of the new President-elect, Barack Obama—Internet users streamed to news websites in unprecedented numbers, according to Cambridge, MA-based Akamai. The company, which has been measuring Internet traffic to news, retail, … Continue reading “Historic Obama Win Also Sets Web Traffic Records”

Prescription Drugs for Half the Price: Wellpartner Smooths Way for Clinics to Buy Them

There’s a way to buy prescription drugs for 50 percent off that’s perfectly legal, but requires so much red tape that few people know how to take advantage of it, or even know about it. Except for Wellpartner. This company is a Portland, OR-based mail-order pharmacy that I learned about several weeks ago during a … Continue reading “Prescription Drugs for Half the Price: Wellpartner Smooths Way for Clinics to Buy Them”

Microsoft Research Asia Turns 10, Looks to Innovate in Multimedia, Cloud Computing, Ads

Updated Nov. 5 with comments from senior vice president Rick Rashid (see below): You did good, Bill Gates. When you decided to build a new computer-science research lab in Beijing in 1998, you probably saw it as a relatively low-risk venture with a high upside. It would be challenging and take a lot of work … Continue reading “Microsoft Research Asia Turns 10, Looks to Innovate in Multimedia, Cloud Computing, Ads”

Vidoop Lays Off 9 Workers

Portland, OR-based Vidoop, a maker of Internet security and authentication technology, has laid off 9 of 37 employees, according to the Portland Business Journal. Vidoop’s company blog was less specific, saying it told “several members of the Vidoop family goodbye.” The company moved to Portland from Oklahoma in September.

WildTangent Closes Studio, Changes CEO

Redmond, WA-based WildTangent, a developer and publisher of online games, has closed its development studio and laid off 20 employees, or one-fifth of its staff, as first reported by TechFlash. Co-founder Alex St. John has stepped down as chief executive but remains chairman, according to Gamasutra and others. Mike Peronto is the new CEO.

ZymoGenetics Cash Gets Lean, Recothrom Sales Still Slow

(Update: This story has been updated to add material from ZymoGenetics’ conference call with analysts, starting with the fourth paragraph.) ZymoGenetics still hasn’t found a groove with its recombinant thrombin drug (Recothrom) for surgical bleeding. The Seattle biotech company said today it sold $1.8 million of the drug in the quarter ending Sept. 30. Things … Continue reading “ZymoGenetics Cash Gets Lean, Recothrom Sales Still Slow”

Tysabri: The Big Multiple Sclerosis Drug That Emerged From “The Hutch”

The most effective drug on the market today for patients with multiple sclerosis has roots in a dingy old lab in the 1980s on Seattle’s First Hill. It was there that a pair of young scientists at the Fred Hutchinson Cancer Research Center, Bill Carter and Elizabeth Wayner, made key discoveries that paved the way … Continue reading “Tysabri: The Big Multiple Sclerosis Drug That Emerged From “The Hutch””

Kashless Cashes In, InEnTec Gets $150M, EnerG2 Energized by Venture Investment, & More Seattle-Area Deals News

Heading into Election Day (have you voted yet?), the deal flow has really picked up in the Northwest. Cleantech and energy were the big winners this week, followed by Web software and biomedical hardware. —Xconomy broke the news of Seattle-based EnerG2, a startup out of the University of Washington, raising an $8.5 million Series A … Continue reading “Kashless Cashes In, InEnTec Gets $150M, EnerG2 Energized by Venture Investment, & More Seattle-Area Deals News”

ZymoGenetics Drug For Hepatitis C Kills Virus with Minimal Side Effects

ZymoGenetics may have a sleeper in its pipeline about to wake up. The Seattle biotech company is reporting today that its experimental drug, called peg-interferon lambda, was able to kill the hepatitis C virus at all three doses tested in a small clinical trial without the flu-like symptoms associated with standard interferon alpha drugs used … Continue reading “ZymoGenetics Drug For Hepatitis C Kills Virus with Minimal Side Effects”

Xconomy Forum: Vaccines 2.0

Vaccines have long been a neglected stepchild of the pharmaceutical industry, regarded by many as a high-risk, high-liability, low-profit backwater. Even the massive influx of world-class research and worldwide attention prompted by the search for an HIV vaccine failed to breathe life into the industry. So why do many venture capitalists and philanthropists consider now … Continue reading “Xconomy Forum: Vaccines 2.0”

EnerG2, a University of Washington Startup, Raises $8.5M for Energy Storage, Led by OVP

Xconomy has learned that EnerG2, an advanced materials company in Seattle, has closed an $8.5 million round of Series A financing, led by Kirkland, WA-based OVP Venture Partners and Palo Alto, CA-based Firelake Capital Management, according to multiple sources familiar with the deal. The news suggests that energy venture deals could be hot, even in … Continue reading “EnerG2, a University of Washington Startup, Raises $8.5M for Energy Storage, Led by OVP”

Ascentium Adds Cash

Bellevue, WA-based Ascentium, a Web design and marketing firm, announced today it has raised additional funds from Kirkland, WA-based WestRiver Capital. The amount was not disclosed. Ascentium said it will continue to invest in talent and business expansion worldwide.

Look Inside This Body: The Greater Seattle Ultrasound Cluster

When you see doctors scrambling to save someone in a TV melodrama like “ER” or “Grey’s Anatomy,” there’s a good chance one of their key gadgets came from a real-life crew of engineers in the Seattle area. This region has played a central role in making ultrasound technology one of medicine’s most fundamental tools for … Continue reading “Look Inside This Body: The Greater Seattle Ultrasound Cluster”

CultureMob, Expanding Across the U.S., Says Get Out and Vote, Then Party

Want to find out where the best election parties will be on Tuesday night? Check out CultureMob’s top 10 list for Seattle here. The list includes a big drinkfest, the Stranger’s Election Party at Showbox at the Market downtown, as well as the more serious Election Night Special at Town Hall Seattle, complete with political … Continue reading “CultureMob, Expanding Across the U.S., Says Get Out and Vote, Then Party”

EnerG2 Secures $8,500,000 Series A Financing Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=ef8bdda6-430c-4cd9-bed2-238a5a1f8e86&Preview=1 Date 11/3/2008 Company Name EnerG2 Mailing Address 810 3rd Avenue Seattle, WA 98104 Company Description Founded in 2003 in Seattle, Washington, EnerG2 pursues commercial opportunities in energy storage created by advanced material processing techniques. Working closely with the University of Washington’s Department of Materials Science & Engineering, EnerG2 has produced a … Continue reading “EnerG2 Secures $8,500,000 Series A Financing Round”

Napera Networks Management, Inc. Lands $6,000,000 Series A Financing

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=a312103f-73c1-4a6a-9acd-53daa4b2664a&Preview=1 Date 11/3/2008 Company Name Napera Networks Management, Inc. Mailing Address 7683 SE 27th St Mercer Island, WA 98040 Company Description Napera provides network solutions that enable small and medium enterprises to build safe, secure and healthy networks. Napera solutions leverage Microsoft’s Network Access Protection (NAP) architecture to defend against unauthorized access … Continue reading “Napera Networks Management, Inc. Lands $6,000,000 Series A Financing”

MediQuest Fails to Win FDA Approval for Raynaud’s Drug

MediQuest Therapeutics, a Bothell, WA-based developer of a drug for Raynaud’s disease, said the FDA has turned down its application to market the product in the U.S. The FDA said the company’s application to market Vascana, a squeeze-on gel to improve blood circulation in the hands and feet, “could not be approved in its present … Continue reading “MediQuest Fails to Win FDA Approval for Raynaud’s Drug”

Second Ave Re-ups with Ice Energy

Seattle-based Second Avenue Partners has participated in a $33 million Series B funding for Colorado-based Ice Energy, a cleantech company that helps manage electricity usage for air conditioning. Second Avenue was an original investor in Ice Energy. The latest funding round was led by Energy Capital Partners.

Supporter of Seattle Startups Raises $800K for “Social Analytics,” Wants To Improve Your Website

One of the most influential people in the Seattle tech-innovation scene doesn’t even live in the area. He’s Neil Patel, and if you’re in the Web analytics or Internet marketing business, you already know who he is. That’s because Patel has done marketing and search engine optimization for everyone from giants like General Motors, AOL, … Continue reading “Supporter of Seattle Startups Raises $800K for “Social Analytics,” Wants To Improve Your Website”

In Google Book Search Settlement, Readers Lose

The biggest development in the digital media world this week, by far, was the settlement of a pair of class-action copyright-infringement lawsuits brought against Google in 2005 by the Authors Guild, the Association of American Publishers, and several publishing houses. The compromise agreement, which was announced October 28 and now awaits approval by the federal … Continue reading “In Google Book Search Settlement, Readers Lose”

Sonosite Buys Back $60M of Convertible Debt

Sonosite, the Bothell, WA-based maker of portable ultrasound machines, said today has bought back $60.3 million worth of convertible notes it owes to investors. The company (NASDAQ: [[ticker:SONO]]) said it paid about $47.4 million in cash through the transaction, and recorded a pre-tax gain of $11 million. It still has $164.7 million million of these … Continue reading “Sonosite Buys Back $60M of Convertible Debt”

Kashless No More: Martin Tobias Raises $5M for New Startup

[Updated Oct. 30 with comments from Tobias, who’s surfing in Hawaii (see below)] Although he has been stingy with details about his new startup, Kashless, I figured Seattle entrepreneur Martin Tobias had to have raised some money (he’s been hiring). Yesterday, Dan Primack of PEHub reported that Kashless recently closed a $5 million Series A … Continue reading “Kashless No More: Martin Tobias Raises $5M for New Startup”

NxtGen Emission Nets $15.4M

Burnaby, BC-based NxtGen Emission Controls announced today it has closed a $15.4 million Series B round, led by Denver, CO-based Altira Group. Other investors included Itochu, an undisclosed Japanese auto maker, and return investors Yaletown Venture Partners, GrowthWorks Capital, BC Advantage Funds, and Polygon Financial Investments. NxtGen Emission specializes in “syngas” technology for reducing emissions … Continue reading “NxtGen Emission Nets $15.4M”

Financial Crisis Already Having Moderate Impact on Washington Tech Businesses, Survey Says

Three weeks ago, the Washington Technology Industry Association (WTIA) launched a survey on the effects of the economic downturn on the technology community. The specific goal was to get feedback on how tech businesses are being directly affected by the nation’s financial crisis. Xconomy was the exclusive media partner on the survey; we had early … Continue reading “Financial Crisis Already Having Moderate Impact on Washington Tech Businesses, Survey Says”

Alnara Pharmaceuticals Aims to Make Biotech Drugs You Can Swallow, And That Go Right Where They Belong

Despite all the red ink in investors’ portfolios, there is still venture money out there for big ideas. Boston-based Alnara Pharmaceuticals has snapped up $20 million in a first-round financing to support a novel, untested concept. The company wants to show it can develop biotech drugs that can be given in an oral pill, and … Continue reading “Alnara Pharmaceuticals Aims to Make Biotech Drugs You Can Swallow, And That Go Right Where They Belong”

ZymoGenetics Trial Halted, Amgen’s Big New Drug, Spiration Gets FDA Nod, & More Seattle-Area Life Sciences News

Seattle biotech had its usual highlights and lowlights this week. One local company won its first FDA approval, of a minimally invasive device for lung disease. Another regional bellwether had a clinical trial failure that sent its stock down 29 percent in a day. Lots of politicians were showing up on the innovation scene this … Continue reading “ZymoGenetics Trial Halted, Amgen’s Big New Drug, Spiration Gets FDA Nod, & More Seattle-Area Life Sciences News”

Buy-Side Experts See Major Changes Afoot for Biotech Amid Financial Crisis

Unless there are more than seven figures in your personal net worth or you happen to manage a pension fund or the like, there are few chances to glean information from hedge fund managers and other buy-side experts who play the high-risk game of biotech investing. Yet last week one of those rare opportunities presented … Continue reading “Buy-Side Experts See Major Changes Afoot for Biotech Amid Financial Crisis”

Sourcing the Right Crowd

Commercialization is rarely a solitary pursuit; bringing an idea to the world requires a set of diverse skills and knowledge, a proverbial commercialization village. Or a crowd. Enter the power of crowdsourcing. Crowdsourcing refers to aggregating a large number of people to express their opinions or ideas about specific topics—and the term first appeared in … Continue reading “Sourcing the Right Crowd”

IT and the Future of Clinical Trials

The Washington Biotechnology & Biomedical Association is hosting an event at the Microsoft campus on Wednesday, November 12th, to learn more about Microsoft’s vision for life sciences, and its potential implications for the clinical trial process of the future. Attendees of “Information Technology and the Future of Clinical Trials” will also hear from Bob Webber, … Continue reading “IT and the Future of Clinical Trials”

Startups Aren’t Dead, Says ClayValet Founder in Wake of Shutdown

You usually only hear about startups when they’re successful, but Seattle-based ClayValet is an exception. Two weeks ago, founder Mikhail Seregine announced that he was shutting down his four-person company, an online shopping service that allowed customers to ask questions about products and get personal recommendations. He followed up this week with a really informative … Continue reading “Startups Aren’t Dead, Says ClayValet Founder in Wake of Shutdown”

InEnTec Gets $150M For “Gasification” Plant To Turn Chemical Waste Into Fuel

InEnTec, the Bend, OR-based company that uses a high-heat process to turn chemical waste into renewable fuels, has gotten a $150 million equity commitment from Lakeside Energy to build a commercial plant in Michigan. Lakeside, a Chicago investment firm, is providing the cash along with American Securities, a New York-based private equity company. The money … Continue reading “InEnTec Gets $150M For “Gasification” Plant To Turn Chemical Waste Into Fuel”

Amgen Scientist, After 13-Year Push, Sees Bone Cancer Work Paying Dividends

Amgen had the worst year in its history in 2007, according to CEO Kevin Sharer. If you’re wondering why the world’s largest biotech company has mounted a comeback this year, one good place to look is in the lab of Bill Dougall, an Amgen scientist in Seattle. He’s been pursuing a bone cancer program for … Continue reading “Amgen Scientist, After 13-Year Push, Sees Bone Cancer Work Paying Dividends”

Kashless Lands $5,000,000 Series A Funding Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=d642ffcc-3a7d-4762-8653-0ab6696264c4&Preview=1 Date 10/29/2008 Company Name Kashless Mailing Address 417 West Prospect St Seattle, WA 98119 Company Description Kashless is in a private alpha. We’re hard at work helping you reduce, reuse, and save. Watch this space as we evolve. Website http://kashless.org/ Transaction Type Venture Equity Transaction Amount $5,000,000 Transaction Round Series A … Continue reading “Kashless Lands $5,000,000 Series A Funding Round”

Washington Venture Capitalists Brace for the Worst Between Now and Year’s End

OK, this isn’t all that surprising. In the early days of the fourth quarter of 2008, the majority of Washington state’s venture capitalists see the national economy as the top issue facing their portfolio companies, and they’re predicting lower revenue growth and lower valuations for all companies—and no exits. That’s according to the latest quarterly … Continue reading “Washington Venture Capitalists Brace for the Worst Between Now and Year’s End”

Judy’s Book Relaunched Under “New” Ownership, with Focus on Customer Reviews

When TechCrunch served up a headline yesterday saying Seattle startup Judy’s Book was “Back from the Dead,” I thought there might actually be some news. The same day, John Cook at TechFlash posted a much more informative story about the current state of the online reviews-and-shopping company, which was founded by Andy Sack and Chris … Continue reading “Judy’s Book Relaunched Under “New” Ownership, with Focus on Customer Reviews”

WSU Innovators Series: The Animal-Human Health Connection

Effective vaccines against diseases that have plagued animals and humans for thousands of years-particularly infections transmitted by ticks, mosquitoes, and other insects-will revolutionize life for millions of people some day. The new vaccines will deliver significant health benefits and economic opportunities, improving lives and livelihoods worldwide, especially in developing countries. Wendy Brown, a professor of … Continue reading “WSU Innovators Series: The Animal-Human Health Connection”

WSU Innovators Series: Renewable Fuels

Poplar trees, western red cedar, flax, creosote bushes, and canola are all plants that can grow readily in Washington State, and all hold tremendous promise for generating new sources of power. Norman Lewis, director of the Institute of Biological Chemistry at Washington State University, has a goal of reducing our dependence on fossil fuels by … Continue reading “WSU Innovators Series: Renewable Fuels”

Top 10 Takeaways from the VC Panel at Seattle’s Renewable Energy Finance Forum

This morning, I stopped by the panel on venture capital in cleantech, at the Renewable Energy Finance Forum-West conference at the Grand Hyatt in downtown Seattle. It was moderated by Nancy Floyd of Nth Power and Michael Butler of Seattle-based Cascadia Capital (who’s an Xconomist). The panelists were Raj Atluru of Draper Fisher Jurvetson, Anup … Continue reading “Top 10 Takeaways from the VC Panel at Seattle’s Renewable Energy Finance Forum”

Gov. Gregoire Urges Biotechies to “Stay Focused”; UW Makes its Biotech Business Case, And A Host of Startups Debut

The last time Gov. Chris Gregoire spoke at the Washington Biotechnology and Biomedical Association’s annual meeting, she had to share the stage with Republican challenger Dino Rossi during the election campaign of 2004. This morning, she had the podium to herself, and Gregoire used it tout the region’s expertise in biotech and its potential to … Continue reading “Gov. Gregoire Urges Biotechies to “Stay Focused”; UW Makes its Biotech Business Case, And A Host of Startups Debut”

$6.5M for Rich Barton’s Glassdoor

Glassdoor.com, the Sausalito, CA-based online workplace community and job site co-founded by Zillow CEO Rich Barton, announced it has raised $6.5 million in Series B funding from Sutter Hill Ventures and Benchmark Capital. Barton is Glassdoor’s non-executive chairman of the board and a venture partner at Benchmark.