Category: Seattle

ZymoGenetics Drug Getting Off to Slow Start in Marketplace

ZymoGenetics executives have been tamping down sales expectations for months about the company’s first marketed product, and they weren’t kidding. Recothrom, a genetically engineered treatment for surgical bleeding approved by the FDA in January, eked out $1.4 million in net sales in the second quarter, the company said yesterday. Even Kevin DeGeeter, an analyst with … Continue reading “ZymoGenetics Drug Getting Off to Slow Start in Marketplace”

Novo Nordisk Returning to Seattle, Hiring 80 People by 2010

Novo Nordisk, the world’s biggest insulin producer for diabetes, apparently has a thing for Seattle. The Denmark-based drug maker is establishing a new research site in Seattle, that aims to employ 80 people by 2010, according to this job posting at nwsource.com. The news, first reported by the Seattle P-I’s Joe Tartakoff, represents a bit … Continue reading “Novo Nordisk Returning to Seattle, Hiring 80 People by 2010”

Sierra Wireless Buys Junxion’s Assets

Vancouver, BC-based Sierra Wireless, a maker of modems and wireless software, announced today that it is purchasing the assets of Seattle-based Junxion. Financial terms were not disclosed. Junxion makes wireless-router products for corporate and government customers.

Life Sciences Discovery Fund Awards $5 Million of Grants to Six Researchers

Washington state’s Life Sciences Discovery Fund has awarded six grants to researchers totaling $5 million, the agency said today. Grant winners are Clifford Berkman and Diane Cook of Washington State University, and Eberhard Fetz, Cecilia Giachelli, Pierre Mourad, and Patrick Stayton of the University of Washington. The grants will fuel a variety of projects that … Continue reading “Life Sciences Discovery Fund Awards $5 Million of Grants to Six Researchers”

Investing in the New Electricity Economy—A Primer

There’s a revolution coming in electric power. Passive, one-way power distribution will become a marketplace with real-time transactions. Centralized will become networked. Demand will become supply. And large-scale energy storage will finally become a reality. So what does all this mean for companies and investors? That’s the topic of a 55-page white paper prepared by … Continue reading “Investing in the New Electricity Economy—A Primer”

Elastra Raises $12M from Amazon, Others

San Francisco-based Elastra, a cloud-computing software company, announced today that it has raised $12 million in Series B financing. Amazon (NASDAQ: [[ticker:AMZN]]) was a new investor, while the round was led by Bay Partners. Amazon Web Services has provided infrastructure support for companies to do cloud computing for more than two years.

Pangaea Ventures Closes $32M Fund

Vancouver, BC-based Pangaea Ventures, an investor in early-stage cleantech and advanced-materials companies, announced it has closed a second fund worth $32 million (U.S. dollars). The new investors in the fund are Asahi Glass, Umicore, and Bekaert. The Pangaea fund has made four investments to date, in Cyrium Technologies, Kovio, Switch Materials, and CNano Technology Limited.

MDRNA Cuts 23 Jobs, Mostly in Nasal Delivery Business

MDRNA, a Bothell, WA-based developer of RNA interference drugs, said yesterday it has eliminated 23 jobs, leaving it with a staff of 55. Most of the cuts were from its nasal drug delivery program, which was the main concentration of the company for most of its history when it was named Nastech Pharmaceutical. Most employees … Continue reading “MDRNA Cuts 23 Jobs, Mostly in Nasal Delivery Business”

WTIA’s Ken Myer Aims to Get VC Views on Future, Not Past

Every quarter, we journalists do the national story about trends in venture capital investing. We slice and dice numbers that tell the narrative of where money went over the past three months. Less than a year ago, Ken Myer and the folks at the Washington Technology Industry Association thought they’d try something different: a survey … Continue reading “WTIA’s Ken Myer Aims to Get VC Views on Future, Not Past”

Four Layoffs and a Funeral: Vivendi, Northstar, Imperium, and CarDomain Cut Staff, Dipiti Shuts Doors

Heading into the dog days of August, just a reminder that not all is happy in sunny Seattle. In the past week, we’ve seen four area tech companies confirm significant layoffs and one startup close its doors. The bad news is not limited to one or two tech sectors, either: it cuts across a wide … Continue reading “Four Layoffs and a Funeral: Vivendi, Northstar, Imperium, and CarDomain Cut Staff, Dipiti Shuts Doors”

Liposonix, Maker of Ultrasound Fat-Buster, Will Still Grow Up in Bothell After Takeover

Everybody involved in a corporate takeover always says all the right things, but you never really know how the deal will shake out until some time passes. So I paid a visit last week to Jens Quistgaard to see for myself. His company, Bothell, WA-based Liposonix, agreed to be sold about six weeks ago to … Continue reading “Liposonix, Maker of Ultrasound Fat-Buster, Will Still Grow Up in Bothell After Takeover”

TeachStreet Expands to Portland Metro Area, Looking to Double Its Traffic and Much More

When I first met Dave Schappell a few weeks ago, we talked mostly about entrepreneurship and his experience running his startup— TeachStreet, an online community site for connecting local teachers and students. Today TeachStreet has some big news: it has expanded to Portland, OR, in its first move outside of Seattle. The idea is, if … Continue reading “TeachStreet Expands to Portland Metro Area, Looking to Double Its Traffic and Much More”

The Solar Hype Cycle: Don’t Let The Sun Go Down On Me

The other day the Boston Globe had a piece on solar technology coming of age in which Caltech chemistry professor Nathan Lewis stated: “We’re not in a hype cycle…If you go to Silicon Valley and around Route 128, everyone and their brother who used to make computer chips are now trying to make thin-film solar … Continue reading “The Solar Hype Cycle: Don’t Let The Sun Go Down On Me”

Wellpartner Raises $16.1 Million for Pharmacy Services

Wellpartner, a Portland, OR-based company that handles pharmacy services for health plans and Medicaid programs, said today it has raised $16.1 million in a fourth-round venture financing. Burrill & Co. led the investment, which included Credit Suisse, the manager of the Oregon Investment Fund, and previous backers, including Seattle-based Buerk Dale Victor and Integra Ventures, … Continue reading “Wellpartner Raises $16.1 Million for Pharmacy Services”

Michael Butler of Cascadia Capital Looks for a Few Good Bankers, Sees Growth in New Media, Cleantech, and Healthcare

How do you run a national investment bank here in the Northwest, far away from the bustling financial centers of New York and San Francisco? I put the question to Michael Butler, chairman and CEO of Seattle-based Cascadia Capital, one of the area’s leaders in providing banking services in corporate finance and strategy. His answers … Continue reading “Michael Butler of Cascadia Capital Looks for a Few Good Bankers, Sees Growth in New Media, Cleantech, and Healthcare”

Turn your iPhone or iPod into a Portable University

You can’t earn a college degree just by watching iPod videos (at least, not yet). But if it’s pure knowledge you’re after, there’s a veritable bounty of it available at the “iTunes University” section of Apple’s iTunes store, tuition-free. iTunes U isn’t new—Apple launched it on May 30, 2007, the same day it introduced iTunes … Continue reading “Turn your iPhone or iPod into a Portable University”

Back from Vacation, Technology Alliance’s Susannah Malarkey Delivers the Goods On Startups

Susannah Malarkey had a relaxing vacation. How I can tell? The executive director of the Technology Alliance had such a restorative eight-day experience with family in central Oregon that when we sat down for coffee yesterday, and I asked for names of the most intriguing startups she’s seen lately, she drew a blank. I was … Continue reading “Back from Vacation, Technology Alliance’s Susannah Malarkey Delivers the Goods On Startups”

Wellpartner, Inc. Garners $16,100,000 Series D Financing

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=6cc41371-1834-47ab-a0fd-92845d517cbf&Preview=1 Date 8/1/2008 Company Name Wellpartner, Inc. Mailing Address 806 SW Broadway Portland, OR 97205 Company Description Wellpartner leverages technology to enhance the delivery of its pharmacy services at lower costs. Whether you are a managed care plan, self insured employer, State Medicaid organization, Safety-net clinic or Indian tribal nation, highly experienced … Continue reading “Wellpartner, Inc. Garners $16,100,000 Series D Financing”

Amazon’s Mechanical Turk Opens Up to the Masses

Yesterday Amazon announced it has created a Web interface that makes its “Mechanical Turk” service easier for businesses to use. Until now, companies needed software coding expertise to set up and manage the service, whereby anonymous Web users can sign up to perform small tasks for small payments. In Boston, Wade recently wrote about one … Continue reading “Amazon’s Mechanical Turk Opens Up to the Masses”

Northstar Neuroscience Cuts Jobs, Scraps Development of Stroke Treatment

Northstar Neuroscience said today it is cutting 34 percent of its workforce, scrapping development of its brain stimulation device for stroke patients, and switching gears to develop the technology for patients with depression. The Seattle company is left with 38 employees, and planning to sublease 40 percent of its office space. As we reported earlier … Continue reading “Northstar Neuroscience Cuts Jobs, Scraps Development of Stroke Treatment”

BIO’s Pacific Rim Summit on Industrial Biotechnology

The Biotechnology Industry Organization is holding its Pacific Rim Summit on Industrial Biotechnology and Bioenergy from Sept. 10-12 at the Westin Bayshore in Vancouver, BC. The conference will explore the latest science in biofuels, chemicals and sustainable resources. Featured speakers include David McElroy of Seattle-based Targeted Growth, Scott Baker of the Pacific Northwest National Laboratory … Continue reading “BIO’s Pacific Rim Summit on Industrial Biotechnology”

Imperium Cuts Undisclosed Number of Corporate Jobs

Imperium Renewables, the Seattle-based maker of biodiesel, has made job cuts in its corporate staff. The news, first reported in the Seattle P-I, was confirmed today by Imperium president John Plaza, through a spokesman. The company didn’t immediately disclose how many people were let go, or how many remain. The P-I story, citing an anonymous … Continue reading “Imperium Cuts Undisclosed Number of Corporate Jobs”

Local Marketers Raises $4.1M, Gets New Leadership

Seattle-based Local Marketers, a three-year-old online marketing startup, announced it has raised $4.1 million in Series A2 funding from Madrona Venture Group. That brings its total to $5.1 million raised since 2006. Local Marketers also announced its new CEO, Walter Boos, a partnership with Google as a re-seller of Google AdWords, and an expansion into … Continue reading “Local Marketers Raises $4.1M, Gets New Leadership”

Seattle Genetics Starts Clinical Trial of SGN-70 For Autoimmune Disease

Seattle Genetics, the Bothell, WA-based developer of targeted antibody drugs, said today it has started an early-stage clinical trial to look at safety of SGN-70 in 60 healthy volunteers. The drug is designed to block CD70, a protein found in abundance on activated white blood cells, but not resting cells. The target has been linked … Continue reading “Seattle Genetics Starts Clinical Trial of SGN-70 For Autoimmune Disease”

Modumetal Grows Nanotech Metals for Military, Aiming To Make Parts For Your Car

How would you like to grow your own bulletproof vest? If you’re interested, Christina Lomasney can hook you up. OK, the technology might be a bit pricey for civilian use, but talk to soldiers and military leaders and it’s a different story. Lomasney’s company, Seattle-based Modumetal, is developing a new kind of “nanotech metal” that’s … Continue reading “Modumetal Grows Nanotech Metals for Military, Aiming To Make Parts For Your Car”

Dendreon Holds Its Breath, Big Provenge Clinical Trial Result Coming In October

Dendreon’s David Urdal never fails to give off the impression that he’s a ballast for the company, at least in the dozens of times I’ve interviewed him in the past seven years. The even-keeled chief scientific officer has lived through all the ups and downs since he joined the Seattle biotech company back in its … Continue reading “Dendreon Holds Its Breath, Big Provenge Clinical Trial Result Coming In October”

Cequint Gets Expanded Venture Financing of $7.1 Million

Cequint, a Seattle-based maker of Caller ID technology for mobile phones, has expanded a second round venture financing to a total of $7.1 million, according to a regulatory filing reported on by PE Week Wire. ISherpa Capital led the financing, and was joined by Benaroya Capital. The company’s application, called City ID, tells people which … Continue reading “Cequint Gets Expanded Venture Financing of $7.1 Million”

The Future of Biotech Is in Rabbits, Says Entrepreneur Johnny Stine

About 40 miles north of Seattle, on a rabbit farm, Johnny Stine thinks he has found a disruptive force for biotechnology. He’s building a startup, called North Coast Biologics, around the idea—without a penny from venture capitalists or more than a handful of employees. Ridiculous, right? “I wouldn’t bet against him,” says Carl Weissman, the … Continue reading “The Future of Biotech Is in Rabbits, Says Entrepreneur Johnny Stine”

Microsoft’s Annual Cruise: Faculty Murmurs, Shooing Seagulls, and What Bill Gates Will Watch at the Olympics

On Monday evening, I had the pleasure of sailing the Seattle waterways with Microsoft and several hundred of its university-faculty friends. We were all aboard an Argosy cruise ship for a three-hour tour that took us from the city dock in Kirkland, WA, across Lake Washington; past the University of Washington; through the Ballard Locks; … Continue reading “Microsoft’s Annual Cruise: Faculty Murmurs, Shooing Seagulls, and What Bill Gates Will Watch at the Olympics”

Local Marketers, Inc. Obtains $4,100,000 Series A Funding

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=12272486-e376-418d-b61f-cbca5619440a&Preview=1 Date 7/30/2008 Company Name Local Marketers, Inc. Mailing Address 12951 Bel-Red Rd. Bellevue, WA 98005 Company Description At Local Marketers, we are focused on helping local businesses succeed through effective use of localized Internet marketing. Website http://www.localmarketers.com Transaction Type Venture Equity Transaction Amount $4,100,000 Transaction Round Series A Proceeds Purposes Proceeds … Continue reading “Local Marketers, Inc. Obtains $4,100,000 Series A Funding”

Celator Raises $22.5 Million For Combination Chemo Drugs

Celator Pharmaceuticals, a biotech company with offices in Princeton, NJ and Vancouver, BC, said it has raised $22.5 million in a third round of venture financing to develop new combinations of chemotherapy drugs for cancer. Domain Associates, Ventures West, Quaker BioVentures, TL Ventures, GrowthWorks Capital and BDC Capital all participated. Kenneth Galbraith, general partner at … Continue reading “Celator Raises $22.5 Million For Combination Chemo Drugs”

Microsoft Research Lab Opens Quietly Next to MIT, Director Says Area’s Intellectual Climate Like “Dry Timber” Ready to Ignite

A Microsoft research lab announced in February quietly opened its doors in Kendall Square earlier this month, although the company doesn’t plan an official coming out party until late September. It’s Microsoft’s first research outpost in the United States outside the West Coast and its sixth worldwide—and the lab’s leaders have wasted no time changing … Continue reading “Microsoft Research Lab Opens Quietly Next to MIT, Director Says Area’s Intellectual Climate Like “Dry Timber” Ready to Ignite”

Camping at Google: ISB Scientist Nitin Baliga Joins Elite Science Confab

You know you’ve arrived when Google invites you to headquarters in Mountain View, CA for a camp with 200 leading scientists, techies, and writers. Nitin Baliga, a rising star at the Institute for Systems Biology in Seattle, got the coveted invite to something called Science Foo along with better-known names like inventor Dean Kamen, technology … Continue reading “Camping at Google: ISB Scientist Nitin Baliga Joins Elite Science Confab”

Cequint, Inc. Obtains $7,100,000 Series B Financing Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=fb8d658a-5ca0-4571-9ea4-e795c5d54e6f&Preview=1 Date 7/29/2008 Company Name Cequint, Inc. Mailing Address 1525 4th Avenue Seattle, WA 98101 Company Description Cequint develops and markets software applications that enhance wireless mobile devices. Cequint’s products improve carrier network services while making mobile devices easier to use and more productive. The company’s partnerships with carriers and device manufacturers … Continue reading “Cequint, Inc. Obtains $7,100,000 Series B Financing Round”

AVI Biopharma Hires New CFO, President On His Way Out

AVI Biopharma, (NASDAQ: [[ticker:AVII]]) a Portland, OR-based developer of drugs using RNA interference technology, said today it has hired J. David Boyle II as chief financial officer, while current CFO Mark Webber will become general manager of finance and administration. Alan Timmins, the current president and chief operating officer, will leave the company and his … Continue reading “AVI Biopharma Hires New CFO, President On His Way Out”

Venture Returns Shrinking in 2008

Venture capital funds are still more profitable for their investors than the stock markets, according to new statistics released today bythe National Venture capital Association and Thomson Reuters. But their profitability decreased during the first quarter of 2008. One reason is the increased difficulty of making an exit in the current economic conditions. “The IPO … Continue reading “Venture Returns Shrinking in 2008”

Winshuttle Is Doubling Revenues Every Year, Looking to Win the Data “Shuttling” Battle

It might be the most successful software startup you’ve never heard of. Last year, Bothell, WA-based Winshuttle was ranked 124th on the “Inc. 5000” list of fastest-growing private U.S. companies—and sixth in Washington state. It has been doubling its sales every year for the past four years, and now has some 400 corporate customers including … Continue reading “Winshuttle Is Doubling Revenues Every Year, Looking to Win the Data “Shuttling” Battle”

NeuroVista, Emerging from Stealth Mode, Unveils Technology to Predict Epileptic Seizures

[Updated and corrected: 1 pm Pacific 9/9/10] NeuroVista has said next to nothing in public about how its technology works, until today. After sitting down for an exclusive interview with CEO John Harris at his office in Seattle’s Fisher Plaza, all I can say is that if its technology is half as good as he … Continue reading “NeuroVista, Emerging from Stealth Mode, Unveils Technology to Predict Epileptic Seizures”

RF Surgical Raises $8.2 million From Menlo Ventures and Stanford University

RF Surgical, a Bellevue-based medical device company, said it has raised $8.2 million in a Series A round of venture capital from Menlo Ventures and Stanford University. The company markets an FDA approved system that alerts doctors if surgical material, like sponges, gauze or towels, are left inside a patient before incisions are closed back … Continue reading “RF Surgical Raises $8.2 million From Menlo Ventures and Stanford University”

Amgen Osteoporosis Drug Reduces Bone Fractures in Pivotal Study

Amgen, the world’s largest biotechnology company, said today that its experimental drug for osteoporosis reduced the rate of fractures in a pivotal clinical trial of 7,800 women who took the drug or a placebo. The rate of side effects, including infections, were similar for patients on denosumab and the placebo, the company said. Thousand Oaks, … Continue reading “Amgen Osteoporosis Drug Reduces Bone Fractures in Pivotal Study”

Google Gives $300,000 to Oregon State University for Open Source Projects

Google has donated $300,000 to Oregon State University to build more capacity at its open source computing lab, which means the company has now given a total of $750,000 to the lab, the university said in a statement. The money will further the work of the university, which has already played a role in some … Continue reading “Google Gives $300,000 to Oregon State University for Open Source Projects”

From Tech to Biotech: Former Corbis CEO Steve Davis Tackles Global Health With IDRI

Steve Davis got some funny looks in May after word spread of his latest career move. The former CEO of Corbis, the digital image company backed by Bill Gates, has a reputation as a strategic thinker in Seattle’s business and community circles. He serves on the boards of the Fred Hutchinson Cancer Research Center, PATH, … Continue reading “From Tech to Biotech: Former Corbis CEO Steve Davis Tackles Global Health With IDRI”

Led by Neil Roseman, Evri Wants to Understand Content of Every Web Page (and Connections Between Them)

First of all, please don’t call it a search company. Not even a “semantic” search company (one that uses natural-language processing of text), which is what its technology is based on. Evri, a Seattle startup backed by Paul Allen’s Vulcan Capital, is about more than search—it’s about browsing, understanding content, and “connecting the rest of … Continue reading “Led by Neil Roseman, Evri Wants to Understand Content of Every Web Page (and Connections Between Them)”

Cloud Computing: The Coming IT Cambrian Explosion

Cloud computing continues to be a very hot subject. I recently participated in Xconomy’s conference on “The Promise and Reality of Cloud Computing,” and it was clear from the discussion that something big and profound seems to be going on, although we are not totally sure what it is yet. Some of us feel that … Continue reading “Cloud Computing: The Coming IT Cambrian Explosion”

RF Surgical Systems, Inc. Garners $12,000,000 Series A Funding Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=77004d5f-79e2-4576-9656-20d1bfd9dade&Preview=1 Date 7/25/2008 Company Name RF Surgical Systems, Inc. Mailing Address 2700 Richards Road Bellevue, WA 98005 Company Description RF Surgical Systems, Inc. is a medical device company with headquarters in Bellevue, Washington and engineering R & D facilities in San Diego, California. The privately held company was founded by Chairman Jeffrey … Continue reading “RF Surgical Systems, Inc. Garners $12,000,000 Series A Funding Round”

General Software Acquired by Phoenix Technologies

Milpitas, CA-based Phoenix Technologies (NASDAQ: [[ticker:PTEC]]), which makes PC systems software, announced today that it has signed an agreement to acquire Bellevue, WA-based General Software. Financial terms were not disclosed. The deal is intended to expand Phoenix’s presence across mobile and consumer electronics, communications systems such as network routers, and medical devices.

Spiration, Olympus Sign Lung-Valve Partnership in Japan

Spiration, a Redmond, WA-based maker of medical devices for lung diseases, said it signed a deal to allow Tokyo-based Olympus to distribute its minimally-invasive device for emphysema patients in Japan. Financial terms weren’t disclosed, although Olympus will pay for clinical trials needed in Japan, and file applications to regulators there, Spiration said. The two companies … Continue reading “Spiration, Olympus Sign Lung-Valve Partnership in Japan”

Cell Therapeutics Raises $44.5 Million From Institutional Investor

Cell Therapeutics, the Seattle-based developer of cancer drugs, said today it has raised $44.5 million in convertible debt and warrants from a single institutional investor it didn’t name. The notes, which come at 18.3 percent interest and come due in 2011, can convert to stock if Cell Therapeutics’ shares climb above 79 cents. Late Friday, … Continue reading “Cell Therapeutics Raises $44.5 Million From Institutional Investor”