Local companies revealed a flurry of venture funding deals last week, but some VC partners said venture capital continues to lag the overall economic recovery. The nagging problem is that IPOs and other exits remain constricted for venture-backed companies. We have all that and even some World Cup news. You better settle in, because our … Continue reading “World Cup Draws Big Fans From San Diego’s Innovation Elite, Mushroom Networks Targets Internet Bottlenecks, SmartDraw Aims for a Bigger Market, & More San Diego BizTech News”
Bonanzle and PhysioSonics, Plus a Few New Kids on the Block in May’s Under the Radar Deals
Much like April’s “under the radar” roundup, this month a number of smaller, but still significant deals (between $100,000 and $1,000,000) have come through for a number of companies we’ve been following for some time. But we also saw a handful of companies for the first time in this month’s installment of local micro-deals compiled … Continue reading “Bonanzle and PhysioSonics, Plus a Few New Kids on the Block in May’s Under the Radar Deals”
Mobile Health Summit Convenes Today
The World Economic Forum, which organizes the exclusive annual meeting on global economics, business, and policy in Davos, Switzerland, is convening its first invitation-only summit on mobile healthcare today at San Diego’s Estancia La Jolla Hotel & Spa. A key figure driving the event is Qualcomm Chairman and CEO Paul Jacobs, who also is chairman … Continue reading “Mobile Health Summit Convenes Today”
In Bust Times, Schmooze
A friend of mine worked at a productive technology company that was private. When sales slumped in a recession, the owner turned technical personnel on to creating future products, and turned them to servicing products when the economy was strong. The company became public and the cycle of stability was reversed: laying off people in slumps … Continue reading “In Bust Times, Schmooze”
Future Biotech Winners Will Help Nurses Clean up Less (Stuff), Says Roger Longman
Savvy biotech companies developing, say, cancer drugs, will have to do more in the future than just look at whether a new drug is safe and kills tumors, according to Roger Longman. They’ll also measure things that really count for payers, like length of hospital stays, and—set aside your bowl of Cheerios—how much time it … Continue reading “Future Biotech Winners Will Help Nurses Clean up Less (Stuff), Says Roger Longman”
New England’s Under-the-Radar List: 19 Startup Financings in May You Probably Haven’t Heard About
As temperatures warmed up in New England in the month of May, so did smaller startup investments. There were 19 financings worth less than $1 million last month, and they went to companies spanning the medical devices, social media, energy, and software spaces. (A huge jump from April, when we rounded up seven such deals … Continue reading “New England’s Under-the-Radar List: 19 Startup Financings in May You Probably Haven’t Heard About”
Mnemosyne Pharmaceuticals Obtains New Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=bca58da1-f790-41e4-bb58-1a34cf476432&Preview=1 Date 6/28/2010 Company Name Mnemosyne Pharmaceuticals Mailing Address Undisclosed Providence, RI 02902 Company Description The company is a Providence-based drug discovery venture aiming to develop small molecule therapeutics to treat schizophrenia and other cognitive and neuropsychiatric disorders. Website Undisclosed Transaction Type Venture Equity Transaction Amount Undisclosed Transaction Round Undisclosed Proceeds Purposes … Continue reading “Mnemosyne Pharmaceuticals Obtains New Financing”
Vigilistics Garners $1,494,817 New Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=ba9cbed8-22c8-49dc-b080-068106eacb37&Preview=1 Date 6/28/2010 Company Name Vigilistics Mailing Address 14 Bunsen Irvine, CA 92618 Company Description Vigilistics software is offered with a set of economic modules for specific performance objectives such as reducing milk loss or energy consumption. Vigilistics software was developed specifically for compliance requirements, including accurate and auditable data and plant … Continue reading “Vigilistics Garners $1,494,817 New Financing Round”
Geodelic Lands $7,000,000 Series B Funding
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=79ea9215-f2f3-4841-a8fb-24baa1bd414a&Preview=1 Date 6/28/2010 Company Name Geodelic Mailing Address 2110 Main Street Santa Monica, CA 90405 Company Description The company operates as a mobile telecommunication company. Website http://www.geodelic.com Transaction Type Venture Equity Transaction Amount $7,000,000 Transaction Round Series B Proceeds Purposes Proceeds purposes were not disclosed. M&A Terms Venture Investor MK Capital Venture … Continue reading “Geodelic Lands $7,000,000 Series B Funding”
HitFix Obtains $1,600,000 Series B Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=b9ef8bc2-8896-4b86-bd6d-3f77a4ca09a6&Preview=1 Date 6/28/2010 Company Name HitFix Mailing Address 9031 1/2 Rangely Ave Los Angeles , CA 90048 Company Description HitFix is creating a unique offering by bringing the world of insider entertainment to fans of movies, television and music while providing an insider view on the news, events and information that matter … Continue reading “HitFix Obtains $1,600,000 Series B Round”
Zeebo Secures $13,500,000 New Funding
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=7f0a11ce-4175-4b15-b9e2-f1217a322a03&Preview=1 Date 6/28/2010 Company Name Zeebo Mailing Address 5405 Morehouse Dr. San Diego, CA 92121 Company Description Meet Zeebo, a casual gaming, entertainment and education platform that brings fun and learning to tomorrow’s consumers. Using technologies such as 3G wireless content delivery, Zeebo fundamentally alters the economics of interactive entertainment and learning … Continue reading “Zeebo Secures $13,500,000 New Funding”
Facebook Secures $120,000,000 New Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=66c01b3b-f3ee-4feb-9ed2-33884a013b4a&Preview=1 Date 6/28/2010 Company Name Facebook Mailing Address 471 Emerson St Palo Alto, CA 94301-1605 Company Description Facebook is a social directory that enables people to share information. Facebook increases information flow between people by giving them access to the information that is most relevant to them. Website http://www.facebook.com Transaction Type Venture … Continue reading “Facebook Secures $120,000,000 New Financing”
Pixable Garners $2,500,000 Series A Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=84f6f224-0608-4a83-9214-34fa1b08dbab&Preview=1 Date 6/28/2010 Company Name Pixable Mailing Address 160 Varick Street New York, NY 10013 Company Description The company operates a website and service that allows users to print their Facebook and other social networking website content. Website http://www.Pixable.com Transaction Type Venture Equity Transaction Amount $2,500,000 Transaction Round Series A Proceeds Purposes … Continue reading “Pixable Garners $2,500,000 Series A Financing”
Envirogen Technologies Garners $50,000,000 New Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=fe81cceb-12a7-43f8-927b-d88a56d1545c&Preview=1 Date 6/28/2010 Company Name Envirogen Technologies Mailing Address 700 Rockmead Dr. Kingwood, TX 77339 Company Description Envirogen Technologies, Inc. (Envirogen) pairs technology with process guarantees and support services for the treatment of groundwater, wastewater, process improvement, resource recovery and odor control. Website http://www.Envirogen.com Transaction Type Venture Equity Transaction Amount $50,000,000 Transaction … Continue reading “Envirogen Technologies Garners $50,000,000 New Round”
Starting Your Own Business
At this forum, sponsored by Ann Arbor SPARK, participants will learn about personality traits that impact entrepreneurialism, create a marketing plan for their business, learn about legal, accounting, franchises, business plans and financing options. They’ll receive one-on-one counseling with a business expert and have an opportunity to get advice from a variety of business experts … Continue reading “Starting Your Own Business”
Palantir Technologies Garners $60,000,000 Series D Funding
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=7789367d-f821-444e-bfac-d022c6357ed0&Preview=1 Date 6/27/2010 Company Name Palantir Technologies Mailing Address 100 Hamilton Ave. Palo Alto, CA 94301 Company Description Palantir’s analytical platform is revolutionizing information analysis and management, providing superior human-driven systems needed to explore and analyze the subtle connections that exist within vast networks of heterogeneous information. Website http://www.palantirtech.com Transaction Type Venture … Continue reading “Palantir Technologies Garners $60,000,000 Series D Funding”
Automattic Acquires Plinky for Undisclosed Sum
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=532b7d91-447f-4a07-84d9-3a4b766bd3ec&Preview=1 Date 6/27/2010 Company Name Plinky Mailing Address 985 Moraga Road Lafayette, CA 94549 Company Description Plinky, Inc. is a new company working on a fun social media application. Website http://www.plinky.com Transaction Type M&A Transaction Amount Undisclosed Transaction Round Proceeds Purposes M&A Terms Financial terms of the transaction were not disclosed.
San Diego’s Hotbed of Innovation Also a Hotbed for World Cup Fans
Earlier this week on ESPN radio, the announcers introduced news about the dramatic U.S. victory over Algeria in the World Cup soccer tournament by saying (approximately): And now, for the four or five Americans who are soccer fans… Ouch. Ironic too, considering that ESPN invested $100 million for the broadcasting rights to the 2010 World … Continue reading “San Diego’s Hotbed of Innovation Also a Hotbed for World Cup Fans”
Orexigen Drug Shows Potential as “Two-Fer” Against Obesity and Diabetes
Diabetes and obesity are so closely related for so many millions of people, physicians and investors now sometimes talk about the “diabesity” epidemic. There are a lot of drugs out there for one condition or the other, and now San Diego-based Orexigen Therapeutics is attempting to make a case that its experimental drug could be … Continue reading “Orexigen Drug Shows Potential as “Two-Fer” Against Obesity and Diabetes”
Automattic Buys Plinky
Plinky, a “content encouragement” service that provides daily prompts to people in need of help composing social media updates, was presumed to be headed to the junk heap after its creator, San Francisco-based Thing Labs, announced plans in April to stop updating the site. But in a post on the Thing Labs blog today, the … Continue reading “Automattic Buys Plinky”
10 Stories from Xconomy Seattle’s Early Days (With Some Added Perspective)
There has been plenty of tech-business news in the past week to put Seattle on the national radar. But it takes years to understand the innovation community here; I’ve only scratched the surface so far. So, in honor of my colleague Thea’s first week on the job, I thought it would be useful to look … Continue reading “10 Stories from Xconomy Seattle’s Early Days (With Some Added Perspective)”
Report: John Glaser Leaving Partners Healthcare for Siemens
[Updated—6/25/10, 4 pm Eastern time] This is sort of a coincidence. Partners HealthCare chief information officer John Glaser, who three days ago was featured on this site, is resigning from his long-time post to take over as CEO of the hospital software division of the Germany-based conglomerate Siemens, according to the HIStalk blog. (Glaser has … Continue reading “Report: John Glaser Leaving Partners Healthcare for Siemens”
Olympus Acquires Redmond’s Spiration, Maker of Lung-Disease Valve, for Undisclosed Sum
[Update: 10:45 am] Spiration’s independent days are over. The Redmond, WA-based company, the developer of a minimally-invasive valve to treat lung diseases, has agreed to be acquired by Japan-based Olympus for an undisclosed sum. The acquisition is really the culmination of a relationship that’s been growing between the two companies since 2008, when Olympus obtained … Continue reading “Olympus Acquires Redmond’s Spiration, Maker of Lung-Disease Valve, for Undisclosed Sum”
Biomass Plant For Michigan’s UP
Verso Paper, a paper products company based in Memphis, TN, is building a $43 million renewable energy biomass plant in the Upper Peninsula Michigan town of Quinnesec, the company has announced (PDF). The plant is made possible through tax breaks awarded by the state declaring the area a Forest Products Processing Renaissance Zone. The plant … Continue reading “Biomass Plant For Michigan’s UP”
Consumers Energy To Reach 6.2 Percent Renewable Power After Deal With Four New Michigan Projects
With Michigan law requiring that 10 percent of its energy supply come from renewable sources by 2015, Consumers Energy has announced its supply will reach 6.2 percent after it purchases electricity from four new renewable energy projects. Consumers Energy, which supplies power to more than 6 million of Michigan’s 10 million residents, has reached power … Continue reading “Consumers Energy To Reach 6.2 Percent Renewable Power After Deal With Four New Michigan Projects”
Gilead Buys CGI for Up To $120M
Gilead Sciences (NASDAQ: [[ticker:GILD]]), the Foster City, CA-based biotech company, said today it has agreed to acquire Branford, CT-based CGI Pharmaceuticals for as much as $120 million. Gilead has agreed to pay the majority of that sum upfront, and CGI could receive the rest if it achieves certain progress in clinical development. CGI has developed … Continue reading “Gilead Buys CGI for Up To $120M”
Mushroom Networks Uses “Bonding” Technology to Pump More Data Through Bottlenecks
What San Diego’s Mushroom Networks does is something akin to IT alchemy. The company’s technology transforms data rates that trickle into its “black box” device from a variety of Internet connections into a broadband gusher on the other side, for the benefit of all the users on a business intranet or local network. The technology … Continue reading “Mushroom Networks Uses “Bonding” Technology to Pump More Data Through Bottlenecks”
26 Apps to Drive Your iPad Wild!
Being one of the earliest of early adopters—I got my first iPad about half an hour after they went on sale on April 3—I’m often asked by friends, family members, and readers about my favorite iPhone and iPad applications. I’ve written plenty of columns about iPhone apps, so now it’s the iPad’s turn. Given the … Continue reading “26 Apps to Drive Your iPad Wild!”
Genentech’s Souped-Up Antibody, Reg Kelly’s Mission, LS9 Nears Moment of Truth & More Bay Area Life Sciences News
We know the news and features move fast on our site, and it can be hard to keep up with everything we write every day. So here’s a weekly roundup to help you catch up. This one is especially big, since we started publishing Xconomy San Francisco on June 14 and I’m actually summing up our first … Continue reading “Genentech’s Souped-Up Antibody, Reg Kelly’s Mission, LS9 Nears Moment of Truth & More Bay Area Life Sciences News”
26 Apps to Drive Your iPad Wild!
NEXT APP >> 1. Bento for iPad — This $4.99 app from Filemaker, an Apple subsidiary, is my favorite app for making to-do lists (see this May 14 column). Of course, it’s vastly more powerful than that. Based on the Macintosh desktop application of the same name, Bento is a sophisticated yet easy-to-use front end … Continue reading “26 Apps to Drive Your iPad Wild!”
Third Rock Invests in Ablexis, Acceleron Grabs $8.4M, Alnylam Chief Joins Agios Board, & More Boston-Area Life Sciences News
Drugmakers were big newsmakers this week, with announcements of financings and personnel moves. Sylvia also wrote her column on the incompetencies often found in biotech companies that drive up the cost of drug development. —Ryan captured his interview with John Glaser, the chief information officer of Boston’s Partners HealthCare. Glaser discussed the challenges and changes … Continue reading “Third Rock Invests in Ablexis, Acceleron Grabs $8.4M, Alnylam Chief Joins Agios Board, & More Boston-Area Life Sciences News”
Multimeric Gets Innovation Grant
The National Institute on Drug Abuse has awarded an innovation grant worth $350,000 over two years to San Diego’s Multimeric Biotherapeutics to develop a vaccine against nicotine, and eventually other drugs of abuse. Multimeric says vaccines against nicotine are designed to generate antibodies that sequester nicotine in the blood and prevent the molecules from crossing … Continue reading “Multimeric Gets Innovation Grant”
Boston-Power Pulls In $60M More to Push Battery Technologies Into Electronics, Cars, and Utilities
One of New England’s most prominent cleantech companies is making strides today in a very active field. Westborough, MA-based Boston-Power, a maker of advanced lithium-ion batteries and energy storage technologies, says it has raised $60 million in Series E growth equity funding, co-led by existing investors Foundation Asset Management and Oak Investment Partners. Previous investors … Continue reading “Boston-Power Pulls In $60M More to Push Battery Technologies Into Electronics, Cars, and Utilities”
Boston-Power Garners $60,000,000 Series E Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=d8fe8ece-e8ef-4f9f-94a2-526b3dd3381f&Preview=1 Date 6/25/2010 Company Name Boston-Power Mailing Address 2200 West Park Drive Westborough, MA 01581-3961 Company Description Boston-Power, Inc. ™ is an emerging portable power company answering the call for safer, longer lasting Lithium-ion batteries – today. Website http://www.boston-power.com Transaction Type Venture Equity Transaction Amount $60,000,000 Transaction Round Series E Proceeds Purposes … Continue reading “Boston-Power Garners $60,000,000 Series E Financing Round”
Olympus Medical Acquires Spiration for Undisclosed Sum
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=e75d6360-0804-49d7-a6cd-11cb77994fa1&Preview=1 Date 6/25/2010 Company Name Spiration Mailing Address 6675 185th Avenue N.E. Redmond, WA 98052 Company Description Spiration Inc. designs, manufactures and markets innovative Medical Devices & Instruments for the treatment of lung disease, including lung cancer and chronic obstructive pulmonary disease (COPD), which together claim nearly 275,000 lives in the United … Continue reading “Olympus Medical Acquires Spiration for Undisclosed Sum”
Playdom Acquires Hive7 for Undisclosed Sum
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=7acb2580-8a04-4d3f-90d6-a5e6ea6a5455&Preview=1 Date 6/25/2010 Company Name Hive7 Mailing Address Undisclosed Palo Alto, CA 94301 Company Description The company is a social gaming startup whose lead gaming title is called Knighthood. Website http://www.hive7.com Transaction Type M&A Transaction Amount Undisclosed Transaction Round Proceeds Purposes M&A Terms Financial terms of the transaction were not disclosed.
Casual Connect Seattle 2010
Casual Connect is an annual event put on by the Casual Games Association that brings the most talented and knowledgeable experts in the casual gaming field together to further the casual games industry through networking events, lectures, sessions and parties. The conference will be held from from 9 am to 5 pm on Tuesday, July … Continue reading “Casual Connect Seattle 2010”
Science on Tap: ISB’s Arian Smit on Gene Sequencing of Whole Families
Arian Smit, a senior research scientist at the Institute for Systems Biology, will be giving a free talk at 7 pm on Monday, June 28 about the first whole-genome sequencing of a family and how it will affect future scientific research. This event will be held at the Third Place Pub in Ravenna.
Rumblefish, YouTube Team Up to Offer Music Licensing Service for Consumers
One of the complications of living in an information age is the fact that an endless amount of digital content is available anywhere and at all times, no matter who owns it. For creators—artists, writers, musicians—the massive influx of digital information has meant intellectual property is more easily reprinted, plagiarized, pirated and downright stolen virally. … Continue reading “Rumblefish, YouTube Team Up to Offer Music Licensing Service for Consumers”
The XSITE 2010 Slide Show
It’s been a week since our 2010 Xconomy Summit on Innovation, Technology, and Entrepreneurship, and we’re still excited about it—and still hearing good feedback from the business community. We’ve already taken a look at some of the high points of the day (which included a vocal and guitar performance by Xconomy CEO Bob Buderi), but … Continue reading “The XSITE 2010 Slide Show”
Alibaba Buys Vendio Services
Alibaba.com, the Hong Kong-based e-commerce giant for small business, is acquiring San Mateo, CA-based Vendio Services, a move that will help the Chinese eBay rival secure a U.S. foothold as it raises the profile of its Internet business here. Financial terms were not disclosed. Vendio operates as a multi-channel e-commerce company that provides merchants and … Continue reading “Alibaba Buys Vendio Services”
BuddyTV, Flixster Join Forces
Seattle-based BuddyTV and San Francisco-based Flixster announced today they have formed a long-term partnership to create what they call “the ultimate social network for entertainment fans.” BuddyTV.com is the biggest independent online TV community, while Flixster is the biggest online movie community (comprising Flixster.com and RottenTomatoes.com). Financial terms of the partnership weren’t disclosed, but it … Continue reading “BuddyTV, Flixster Join Forces”
Amylin Cuts 60 Jobs
San Diego-based Amylin Pharmaceuticals (NASDAQ: [[ticker:AMLN]]) has cut 60 jobs, or about 4 percent of its workforce, according to a recent story in the Union-Tribune. The cuts happened within a few specific areas of the company, including R&D, spokeswoman Anne Erickson said. “The R&D changes do not signal a move away from research at Amylin,” … Continue reading “Amylin Cuts 60 Jobs”
$11M for GetJar
GetJar, a San Mateo, CA-based mobile app store, said it has wrapped up an $11 million Series B financing from Accel Partners. GetJar, which describes itself as the world’s second largest app store, is using the new cash to expand its offerings for mobile operating systems that are more open to app developers, such as … Continue reading “$11M for GetJar”
Agios Adds Alnylam Chief to Board
The Cambridge, MA-based cancer drug developer Agios Pharmaceuticals said today it’s tapped John Maraganore, the CEO of Alnylam Pharmaceuticals, to join its board of directors. Maraganore has helped build Cambridge, MA-based Alnylam (NASDAQ:[[ticker:ALNY]]) into a leading developer of experimental gene-silencing drugs, or RNA-interference therapies. Alnylam’s major corporate partners include Novartis, Roche, and Takeda Pharmaceutical, among … Continue reading “Agios Adds Alnylam Chief to Board”
Intrigue, Fraud Surround Death of Biotech Angel Investor, Neurocrine Biosciences Signs Two Big Deals, Regulus Therapeutics Signs Sanofi-Aventis Deal, & More San Diego Life Sciences News
San Diego’s life sciences community and angel investors are watching transfixed as investigators unfold the suspicious death of La Jolla resident John G. Watson. We also saw some huge funding deals over the past week, and we’ve summarized it all for you here: —Carlsbad, CA-based Regulus Therapeutics announced a lucrative partnership with Sanofi-Aventis, the Paris-based … Continue reading “Intrigue, Fraud Surround Death of Biotech Angel Investor, Neurocrine Biosciences Signs Two Big Deals, Regulus Therapeutics Signs Sanofi-Aventis Deal, & More San Diego Life Sciences News”
5th Annual Michigan Energy Fair
The Great Lakes Renewable Energy Association advocates and promotes policies, technologies, and practices that are environmentally and economically sustainable while partnering with key stakeholders to connect businesses, government, and communities to increase use of renewable energy technologies. The goal of the group’s Michigan Energy Fair is to allow those in the sustainable energy industry an … Continue reading “5th Annual Michigan Energy Fair”
Nuxeo Finds $3.3M
Nuxeo, a maker of open source enterprise content management software, announced it has added another $3.3 million to its Series A round of funding. The new tranche was led by OTC Asset Management, and brings the round’s total to $5.9 million. Nuxeo, which is headquartered in Paris but has U.S. operations in Burlington, MA, will use … Continue reading “Nuxeo Finds $3.3M”
SiOnyx Secures $6.3M
SiOnyx, a Beverly, MA-based developer of “black silicon” for imaging systems, has raised $6.3 million of a planned $12 million round of equity financing, according to an SEC filing. The Harvard University spin-out previously raised $11 million in a venture round from Harris & Harris, Polaris Venture Partners, and RedShift Ventures, in 2007. In October … Continue reading “SiOnyx Secures $6.3M”
Seattle Sensor Systems Loses New CEO Who Stirred Buzz at Zino Society, Technology Alliance
[Update: 4:22 pm Pacific] Seattle Sensor Systems, a University of Washington spinout company that appeared rejuvenated earlier this year by hiring a new chief executive with a new business plan, has suddenly decided to dump CEO Carole Spangler. Spangler confirmed that she’s out of the picture, but didn’t say why. “News travels fast. It is … Continue reading “Seattle Sensor Systems Loses New CEO Who Stirred Buzz at Zino Society, Technology Alliance”