Social Gaming Network Secures $2,000,000 Series B Financing

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=a235fc1c-2bd9-4cc6-bc5c-3814b0bb56c3&Preview=1 Date 6/18/2010 Company Name Social Gaming Network Mailing Address 451 Florence St Palo Alto, CA 94300 Company Description Social Gaming Network (SGN) is the leading global development platform for social game distribution. SGN has created a complete ecosystem for social game developers to easily distribute and monetize their games across the … Continue reading “Social Gaming Network Secures $2,000,000 Series B Financing”

Chronicity Garners $3,000,000 New Financing

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=b06e09d6-1d70-4ccc-a230-e5030979765d&Preview=1 Date 6/18/2010 Company Name Chronicity Mailing Address 16415 Addison Rd. Addison, TX 75001 Company Description Chronicity, Inc. specializes in providing integrative treatment for chronic diseases that focus on achieving positive long-term results. Through the development of a proprietary treatment algorithm the company’s business model targets to consumers directly and offers sustainable … Continue reading “Chronicity Garners $3,000,000 New Financing”

West Wireless Health Institute Gets Another $25M, Announces New Partnerships

If nothing else, the West Wireless Health Institute knows how to make a splash. The San Diego-based nonprofit research institute, which made its debut in March 2009 by announcing a $45 million grant, is hosting an open house this evening that represents the first chance most people have had to tour the recently remodeled, three-story, … Continue reading “West Wireless Health Institute Gets Another $25M, Announces New Partnerships”

Gen-Probe Bets $50M on PacBio

Gen-Probe (NASDAQ: [[ticker:GPRO]]), the San Diego-based maker of diagnostics, said today it has invested $50 million in Menlo Park, CA-based Pacific Biosciences, an emerging maker of high-speed gene sequencing instruments. The two companies will also collaborate, exclusively with each other for the next 30 months, on using the new sequencing technology to develop more molecular-based … Continue reading “Gen-Probe Bets $50M on PacBio”

Cyntellect Names Zarrabian as CEO

San Diego-based Cyntellect, a privately held biotech commercializing products for life sciences, stem cell research, drug discovery, and biopharmaceutical production, today named Saiid Zarrabian as president and CEO. He replaces co-founder Fred Koller, who is taking over as Cyntellect’s chief technology officer. Zarrabian, who has been consulting with Cyntellect since March, was previously COO at … Continue reading “Cyntellect Names Zarrabian as CEO”

Motricity Lowers IPO Price Range to $10 to $11

Motricity’s IPO isn’t attracting the kind of interest the company had hoped for. The Bellevue, WA-based maker of wireless technology has cut its forecasted IPO price range. Motricity (NASDAQ: [[ticker:MOTR]]) now hopes to price its initial shares at $10 to $11 each, down from an earlier goal of $14 to $16, according to Renaissance Capital. … Continue reading “Motricity Lowers IPO Price Range to $10 to $11”

FerroKin BioSciences Gets $12M

FerroKin BioSciences, a San Francisco-based company seeking to treat iron overload, said today it has secured $12 million in venture financing. Existing investors Burrill & Co., Celgene, Clarus Ventures and MP Healthcare Venture Management, participated in the financing along with a new investor, Healthcap Ventures. The company says it has completed three clinical studies, in … Continue reading “FerroKin BioSciences Gets $12M”

Aquinox Pharma Nabs $25M

Aquinox Pharmaceuticals, a Vancouver, BC-based developer of small molecule drugs for cancer and inflammatory diseases, said today it has secured a $25 million second round of venture financing. The deal was led by Ventures West, and included Pfizer Venture Investments, Johnson & Johnson Development Corporation, Baker Brothers Investments and BC Advantage Funds. The money will … Continue reading “Aquinox Pharma Nabs $25M”

OncoMed Nabs $40M From Bayer

OncoMed Pharmaceuticals, the Redwood City, CA-based developer of drugs that aim for cancer stem cells, has struck a big partnership with Germany-based Bayer. The deal will provide OncoMed with $40 million in upfront cash, and also could offer milestone payments for as many as five different drug candidates, which have potential to generate as much … Continue reading “OncoMed Nabs $40M From Bayer”

Own a Volt, Get a Jolt With Free Chargers From GM and the Feds

General Motors is planning to give away free high-speed home chargers to juice up its gas-electric hybrid Chevy … I mean, Chevrolet … Volt when it’s released to customers this year. The money to cover the 4,400 freebie 240-volt chargers comes from federal stimulus dollars and is part of the Detroit automaker’s general strategy of … Continue reading “Own a Volt, Get a Jolt With Free Chargers From GM and the Feds”

Oncothyreon’s Cancer Vaccine Back in the Saddle, as Merck KGaA Re-Starts Clinical Trials

Oncothyreon can breathe a sigh of relief. The Seattle-based developer of cancer treatments (NASDAQ: [[ticker:ONTY]]) said today its partner, Germany-based Merck KGaA, has been cleared to re-start clinical trials of an immune-boosting therapy after trials were halted earlier this year when a patient developed an unexpected inflammation of the brain. The German-based Merck got clearance … Continue reading “Oncothyreon’s Cancer Vaccine Back in the Saddle, as Merck KGaA Re-Starts Clinical Trials”

Intellectual Property for Entrepreneurs

This free interactive presentation will cover the types of intellectual property, the biggest pitfall in patent law, and the biggest misunderstanding in patent law. It will end with a short discussion on what do investors want to hear when they ask about your intellectual property.

Brain Cells’ Antidepressant Disappoints in Clinical Study, Otonomy Hears the Sound of Money, Cognionics Wins Startup Competition, & More San Diego Life Sciences News

A spate of financings dominated the headlines in the past week. We’ve got it summarized for you here. —Brain Cells’ experimental antidepressant was no better than placebo in a mid-stage clinical trial, but the results hinted the drug might help people with a combination of depression and anxiety. Thecompany hasn’t decided what to do next, … Continue reading “Brain Cells’ Antidepressant Disappoints in Clinical Study, Otonomy Hears the Sound of Money, Cognionics Wins Startup Competition, & More San Diego Life Sciences News”

iPierian, With Harvard Science and Kleiner Perkins Cash, Pursues Stem Cells to Make Drugs

Stem cells captivated the broad public imagination more than a decade ago, and despite all the hyperbole about creating Lazarus-like regenerative medicines, nobody has built a powerhouse business on this technology. Now a little company in South San Francisco, iPierian has a vision for using stem cells in a way that may not generate magazine … Continue reading “iPierian, With Harvard Science and Kleiner Perkins Cash, Pursues Stem Cells to Make Drugs”

Two Ways to Spark More Life Science Innovation, and One Way IT Can Avoid Harming Medicine

1. The number one thing entrepreneurs and VCs can do is focus on creating science-driven companies that are committed to making enormous differences in the lives of patients. They should take advantage of the amazingly rapid pace of biomedical discovery from academia and the enormous interest from pharma in true innovation driven by entrepreneurial cultures … Continue reading “Two Ways to Spark More Life Science Innovation, and One Way IT Can Avoid Harming Medicine”

Dave Fanning Dies Suddenly, Pfizer Scraps Trubion Drug, MediQuest Tees Up Next Trial, & More Seattle-Area Biotech News

This was a sad week in Seattle biotech, as the region lost one of its prominent startup CEOs and all-around good guys. —David Fanning, the president and CEO of Seattle-based Theraclone Sciences, died suddenly on Monday morning. When I have more information on memorial services, I will update this story. —Pfizer, the world’s largest drugmaker, … Continue reading “Dave Fanning Dies Suddenly, Pfizer Scraps Trubion Drug, MediQuest Tees Up Next Trial, & More Seattle-Area Biotech News”

Magoosh, Test Prep Startup From Berkeley, Wins Inaugural North Bridge Seed Competition

Berkeley, CA-based Magoosh, a developer of low-cost online multimedia materials for the lucrative test preparation industry, is one of two startups to snag the top prize in North Bridge Venture Partners‘ first seed capital competition. Both Magoosh and Pittstown, NJ-based Profitably, a business intelligence software startup focused on small businesses, will receive $50,000 in seed … Continue reading “Magoosh, Test Prep Startup From Berkeley, Wins Inaugural North Bridge Seed Competition”

Daktari Diagnostics, Backed by Gates Foundation, Raises Funds for HIV Test Study

Daktari Diagnostics is finding more support from both nonprofit and for-profit investors to make monitoring the health of HIV patients easy and cheap. The Cambridge, MA-based  startup has added $820,000 to its Series A round this month as it prepares to begin its first clinical trials this summer with its inexpensive technology for measuring an … Continue reading “Daktari Diagnostics, Backed by Gates Foundation, Raises Funds for HIV Test Study”

Covario Adds Analytics to Help Customers Measure Social Media ‘Buzz’

San Diego’s Covario, the venture-backed analytics company that specializes in helping customers improve the results of their search-based marketing, has added to its Software-as-a-Service capabilities for tracking online search and display advertising. The company says its latest innovation, the Covario Social Media Insight (SMI) solution, is an extension of its Web-based platform for Cross Media … Continue reading “Covario Adds Analytics to Help Customers Measure Social Media ‘Buzz’”

Home Dialysis Plus Secures $50,000,000 New Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=852b39c2-06a0-4bc8-9712-ac5a96868beb&Preview=1 Date 6/17/2010 Company Name Home Dialysis Plus Mailing Address 2828 SW. Corbett Ave. Portland, OR 97201 Company Description HD+ has an in-depth understanding of today’s dialysis treatment needs. Working closely with patients, care providers and technical experts around the globe, our team is striving to meet those needs via innovation, strong … Continue reading “Home Dialysis Plus Secures $50,000,000 New Round”

GreenWave Reality Secures $11,000,000 New Funding Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=253c2cf3-9591-4460-a56e-577393f08246&Preview=1 Date 6/17/2010 Company Name GreenWave Reality Mailing Address 39 Parker Irvine, CA 92618 Company Description GreenWave Reality is a global innovator in the emerging Home Energy Management market. GreenWave Reality provides an affordable, easy-to-use, standards-based platform that allows utilities enhance their relationship with consumers and better balance energy on the grid … Continue reading “GreenWave Reality Secures $11,000,000 New Funding Round”

OncoMed Pharmaceuticals Secures $40,000,000 New Financing Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=9114060f-3ed7-4ba9-a23a-08252c9956c8&Preview=1 Date 6/17/2010 Company Name OncoMed Pharmaceuticals Mailing Address 800 Chesapeake Drive Redwood City, CA 94063 Company Description OncoMed Pharmaceuticals is discovering and developing monoclonal antibodies and small molecules capable of destroying “cancer stem cells”, a recently discovered type of cell believed to seed the growth of cancers and underlie cancer’s ability … Continue reading “OncoMed Pharmaceuticals Secures $40,000,000 New Financing Round”

Ferrokin BioSciences Garners $12,000,000 New Financing

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=b2e5420f-cb2e-49a3-b8ef-234fec632d48&Preview=1 Date 6/17/2010 Company Name Ferrokin BioSciences Mailing Address 2729 Debbie Court San Carlos, CA 94070 Company Description FerroKin BioSciences is a clinical stage biotechnology company based in the San Francisco Bay Area and focused on developing chelation therapies for a broad range of clinical indications. Website Undisclosed Transaction Type Venture Equity … Continue reading “Ferrokin BioSciences Garners $12,000,000 New Financing”

Motricity Secures $50,000,000 New Financing Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=96a6e958-0084-49cd-b94b-c06824faf5a3&Preview=1 Date 6/17/2010 Company Name Motricity Mailing Address 601 108th Ave. NE Bellevue, WA 98004 Company Description Motricity (MOTR.O) is the first in a new class of content and media providers for handheld devices. A leader in mobile content distribution solutions, the company is one of the largest providers of mobile content … Continue reading “Motricity Secures $50,000,000 New Financing Round”

ExploreTrip Garners $423,500 New Financing Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=3bb8e461-fed4-4fb5-b5b3-123a5a43bdbd&Preview=1 Date 6/17/2010 Company Name ExploreTrip Mailing Address 1840 Gateway Dr. San Mateo, CA 94404 Company Description The company operates an online site focused on providing inexpensive international airfares. Website http://www.exploretrip.com Transaction Type Venture Equity Transaction Amount $423,500 Transaction Round Undisclosed Proceeds Purposes Proceeds purposes were not disclosed. M&A Terms Venture Investor … Continue reading “ExploreTrip Garners $423,500 New Financing Round”

Pacific BioSciences Lands $50,000,000 New Financing Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=3749a070-3b32-4035-847d-70a2420f5b34&Preview=1 Date 6/17/2010 Company Name Pacific BioSciences Mailing Address 1505 Adams Drive Menlo Park, CA 94025 Company Description The company is focused on developing treatments for various diseases through gene sequencing therapies. Website http://www.pacificbiosciences.com Transaction Type Venture Equity Transaction Amount $50,000,000 Transaction Round Undisclosed Proceeds Purposes Gen-Probe and Pacific Biosciences will initially … Continue reading “Pacific BioSciences Lands $50,000,000 New Financing Round”

Vantage Data Centers Garners New Financing Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=8b192d2b-9ec7-489c-8f59-7cb18f813657&Preview=1 Date 6/17/2010 Company Name Vantage Data Centers Mailing Address Undisclosed Santa Clara, CA 95054 Company Description Vantage Data Centers plans to redevelop the Santa Clara campus into a world-class wholesale data center facility, with over 300,000 square feet of space across three buildings. The property features dual 50 MW redundant substations … Continue reading “Vantage Data Centers Garners New Financing Round”

SafetyWeb Lands $8,000,000 New Funding Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=b69ae25b-4b2b-4415-97b0-483c7dfb5f12&Preview=1 Date 6/17/2010 Company Name SafetyWeb Mailing Address 2401 15th St. Denver, CO 80202 Company Description SafetyWeb is a groundbreaking new service designed to help parents keep their children safe online. While the Internet is constantly changing, your responsibility as parents is not. You would never let your kids go out without … Continue reading “SafetyWeb Lands $8,000,000 New Funding Round”

Format Dynamics Lands $5,500,000 Series B Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=4bca18d7-c0eb-4833-8acb-e2a007619a2c&Preview=1 Date 6/17/2010 Company Name Format Dynamics Mailing Address 1700 Broadway Denver, CO 80290 Company Description Format Dynamics makes print advertising work for the online world, delivering media solutions that advertisers want and web publishers need. We create new ad inventory by optimizing how web pages print and extending onscreen advertisements into … Continue reading “Format Dynamics Lands $5,500,000 Series B Round”

Neurocrine Inks Deal with Abbott

Abbott Laboratories will pay Neurocrine Biosciences (NASDAQ:[[ticker:NBIX]]) of San Diego up to $575 million for exclusive worldwide rights to develop and commercialize Neurocrine’s experimental oral drug for endometriosis, a painful condition in which uterine tissue grows outside the womb. Neurocrine will receive $75 million upfront, up to $500 million in milestone payments, and royalty payments on … Continue reading “Neurocrine Inks Deal with Abbott”

Boatracs Completes Spinout From AirIQ

San Diego’s Boatracs, which develops data communications and vessel monitoring technologies for the maritime industry, says it is now an independent and privately held company, after completing a spinout from AirIQ, its former Toronto-based corporate parent. Financial terms were not disclosed. Boatracs was one of the first San Diego companies to adopt Qualcomm technology. It … Continue reading “Boatracs Completes Spinout From AirIQ”

Cleantech Open Names Semifinalists

The Cleantech Open, a national business plan competition for energy and clean technology startups, announced yesterday its 16 semifinalists for the Pacific Northwest region (as well as teams from other parts of the country). The Northwest companies are Aquapulser, Arcimoto, Clarian Power, Columbia Power Technologies, CyVolt Energy Systems, EnVitrum, Greenstone International, Hydrovolts, Innovatus Energy, LaserMotive, … Continue reading “Cleantech Open Names Semifinalists”

Genzyme Annual Meeting Remarkably Mundane, Despite Rocky Year

Cambridge, MA-based Genzyme’s annual meeting was over in about an hour, and although the company took some hard questions from a shareholder about an internal investigation into insider trading and other matters, it appears that chairman and CEO Henri Termeer and the rest of the company’s directors were easily re-elected to serve on the board … Continue reading “Genzyme Annual Meeting Remarkably Mundane, Despite Rocky Year”

Curis Stock Tanks After Cancer Drug Fails in Roche, Genentech’s Hands

Curis, the Cambridge, MA-based biotech company, is having a very bad day. The company’s stock plunged more than 40 percent today after its experimental cancer drug failed to reach its goal in a clinical trial conducted by its partner, Roche, and its U.S.-based Genentech unit. Curis (NASDAQ: [[ticker:CRIS]]) said that its experimental therapy, GDC-0449, failed … Continue reading “Curis Stock Tanks After Cancer Drug Fails in Roche, Genentech’s Hands”

GTC Axes 50 Workers, CEO Out

GTC Biotherapeutics, the Framingham, MA-based company that won FDA approval for the first drug manufactured in genetically modified animals, has cut 50 jobs in connection with a new $7 million convertible debt financing round. The company’s CEO, Geoffrey Cox and “several other members  of the current senior management team” will be leaving the company, according … Continue reading “GTC Axes 50 Workers, CEO Out”

Redpoint Puts $9M Into Machinima

Redpoint Ventures, the Menlo Park, CA-based early stage venture capital firm, has invested $9 million in a Series B financing round for Los Angeles-based Machinima, according to an announcement today. Machinima’s entertainment portal features original fan-created videos made using the graphics engines from popular video games such as World of Warcraft, Halo, the Sims, and … Continue reading “Redpoint Puts $9M Into Machinima”

We Got Deals: Financings Breathe New Life Into Local Life Sciences Companies

We turned up some recent funding deals for several San Diego life sciences, including venture funding for a medical device startup, and financing deals for one company developing anti-cancer drugs and another developing medical diagnostics. Here’s a rundown of what I found: —Access Scientific, a San Diego-based medical device startup, has collected more than $2.6 … Continue reading “We Got Deals: Financings Breathe New Life Into Local Life Sciences Companies”

Of Angel Tsunamis, the X Prize, Wireless Power, Mobile Health, & More —XSITE 2010 is Tomorrow

Everyone in the innovation community knows entrepreneurs and big companies alike are hard at work across New England building the next economy. But tomorrow, at XSITE 2010—the Xconomy Summit on Innovation, Technology, and Entrepreneurship—we are bringing together some 50 companies and 30 startups, and a host of VCs, angel investors, and innovators from around the … Continue reading “Of Angel Tsunamis, the X Prize, Wireless Power, Mobile Health, & More —XSITE 2010 is Tomorrow”

MichBio Expo

Billed as the largest single gathering of biosciences professionals in Michigan, the MichBio Expo attracted  530 participants and 57 exhibitors last year.  Seventy percent of attendees are executives in biosciences companies, research institutions and universities with another 25 percent representing service providers and other related industries. Michigan biosciences companies will present before an audience of … Continue reading “MichBio Expo”

Washington Companies Raised $36M in May, as Startups and VCs Adjust to Economic Climate

Things might be starting to turn around in the Seattle-area economy, but that doesn’t mean startups are raking in the dough. It’s becoming clear that, with the exception of maybe one or two big deals a month, venture funding for young companies in the Northwest has stabilized to a much lower level than we were … Continue reading “Washington Companies Raised $36M in May, as Startups and VCs Adjust to Economic Climate”

The Rise of Evernote: An Interview with CEO Phil Libin (Part 2)

Yesterday, we ran the first part of a wide-ranging conversation with Phil Libin, the CEO of Mountain View, CA-based Evernote. He talked about how he got recruited to the company two years ago by Esther Dyson, and how he has extended the company’s note-taking software across platforms to build a customer base that’s now 3.2 … Continue reading “The Rise of Evernote: An Interview with CEO Phil Libin (Part 2)”

Predictive Biosciences Pockets $25M Round, Launching First Bladder Cancer Tests

Predictive Biosciences has found a key piece of the puzzle to commercialize its lab tests for bladder cancer. The Lexington, MA-based company has raised $25 million in a Series C round of funding, giving the firm cash to start selling its bladder cancer test and continue research and development of its diagnostics technology, CEO Peter … Continue reading “Predictive Biosciences Pockets $25M Round, Launching First Bladder Cancer Tests”

How to Find Balance in Biotech, Between Owning It All or Finding a Partner

For startup biotech companies, there are many benefits to licensing drug candidates to major drug developers. Partners can be an excellent source of non-dilutive financing, provide the company with validation, and ensure that the drug candidate will have the support it needs to reach the marketplace. However, it is important for biotech entrepreneurs to avoid … Continue reading “How to Find Balance in Biotech, Between Owning It All or Finding a Partner”

MediQuest, Crawling Out of the Bunker, Eagerly Awaits Results From Pivotal Raynaud’s Study

MediQuest Pharmaceuticals has barely made a peep since the FDA declined to approve its drug for Raynaud’s disease back in October 2008. But now the Bothell, WA-based company is starting to poke its head up again as it takes another shot at getting its first drug cleared for sale in the U.S. This week, MediQuest … Continue reading “MediQuest, Crawling Out of the Bunker, Eagerly Awaits Results From Pivotal Raynaud’s Study”

Tim Berners-Lee and Group of Boston Web Gurus Leading New MIT Class to Get Linked Data to Market

The usual sequence for high-tech entrepreneurs is to study, get a degree, get a job, then start a company and build a product. But a star-studded team of instructors for Linked Data Ventures, a graduate-level class premiering at MIT this fall, hopes to mix that up a bit. They envision the course as a direct … Continue reading “Tim Berners-Lee and Group of Boston Web Gurus Leading New MIT Class to Get Linked Data to Market”

Three Ways to Create a More Sustainable Future for Biotechnology

1.Encourage tax incentives and policies that would create more investment in biotech. We should create a tax holiday to allow repatriation of offshore profits that are used to fund R&D in small companies. There are huge profits that are locked up overseas and will never come back unless we provide a means for them to … Continue reading “Three Ways to Create a More Sustainable Future for Biotechnology”

Castlight on a Quest to Create a “Travelocity for Healthcare”

It’s a classic principle in economics: markets don’t work very well when there’s no price transparency. If the airlines refused to quote you a price for a transcontinental ticket and then sent you a bill for an unpredictable amount six months after your flight, you probably wouldn’t fly much. But this is exactly how most … Continue reading “Castlight on a Quest to Create a “Travelocity for Healthcare””