Esperion Therapeutics, a biopharmaceutical company based in Ann Arbor, MI, has signed an agreement with the Cleveland Clinic to advance research targeting new HDL therapies to treat cardiovascular disease. “When Esperion was first founded, we collaborated with Cleveland Clinic in a research effort that showed for the first time that HDL can reverse atherosclerosis in … Continue reading “Esperion, Cleveland Clinic Collaborate”
Hulu’s Feng Joins KPCB
Eric Feng, the founding CTO of online video site Hulu, will leave the company next month to join Silicon Valley venture firm Kleiner Perkins Caufield and Byers, Hulu CEO Jason Kilar announced in a post on the company blog that included Feng’s goodbye letter to the Hulu staff. Previously the founder and CEO of Beijing-based … Continue reading “Hulu’s Feng Joins KPCB”
A Video Introduction to Xconomy and Its New San Francisco Editor
Today Xconomy hits a milestone that we’ve all been working toward for several months—well, for several years, really. We’re finally introducing Xconomy San Francisco, our eye on high-tech innovation and entrepreneurship in the Bay Area. I couldn’t be more excited to be coordinating this effort as the company’s new San Francisco editor. There’s just one … Continue reading “A Video Introduction to Xconomy and Its New San Francisco Editor”
Beringea Invests in Detroit Area Internet Player Startup Livio Radio
Jake Sigal unceremoniously bootstrapped his company out of his guest bedroom in my hometown of Ferndale, MI, about 2 1/2 years ago—tinkering around with the idea of a stand-alone Internet radio. Today, Sigal’s company, Livio Radio, is the recipient of an investment from Beringea, one of Michigan’s largest venture capital firms. I spoke with Sigal … Continue reading “Beringea Invests in Detroit Area Internet Player Startup Livio Radio”
Polaris Venture Partners Captures $233M of $400M Fund
Polaris Venture Partners, a $3 billion-plus venture firm, has found more capital to back technology and life sciences firms. The Waltham, MA-based venture firm has closed on $233.8 million of a planned $400 million for its Polaris Venture Partners VI LP fund, according to an SEC filing. When people talk about the leading venture funds, … Continue reading “Polaris Venture Partners Captures $233M of $400M Fund”
Big Moves for Xconomy Boston (and all of Xconomy) as Wade Heads West and Greg Returns East
It’s official. As we have been telling folks informally, and as reported last week in the Boston Globe, Xconomy chief correspondent Wade Roush is heading west to become editor of Xconomy San Francisco, which officially launched today. Wade, who has been working out of our Kendall Square offices since just after the launch of Xconomy … Continue reading “Big Moves for Xconomy Boston (and all of Xconomy) as Wade Heads West and Greg Returns East”
BioScale Grabs $25M Round
BioScale, a Cambridge, MA-based maker of life sciences research and diagnostics tools that analyze proteins, reports today it has nailed down a $25 million round of financing. China’s Morningside Venture led the new round, which included investments from the company’s previous backers New Science Ventures and WFD Ventures, both of which are located in New … Continue reading “BioScale Grabs $25M Round”
Sonicbids Acquires ArtistData
Boston-based Sonicbids, whose website helps bands discover and book gigs, announced it has acquired ArtistData, an online platform for publishing gig information. Sonicbids, which was used to bookmore than 71,000 gigs last year, says the acquisition of San Francisco-based ArtistData will better enable its customers to market and promote shows through social networks and concert databases. … Continue reading “Sonicbids Acquires ArtistData”
Genentech’s Souped-Up Herceptin: The Odyssey Toward a More Powerful Breast Cancer Drug
Scientists have been dreaming for decades about drugs that go after cancer cells like heat-seeking missiles. The idea is to destroy the enemy and spare other cells from the collateral damage that so many cancer drugs cause. Now after more than 10 years of sustained effort by one of largest teams ever assembled at Genentech, … Continue reading “Genentech’s Souped-Up Herceptin: The Odyssey Toward a More Powerful Breast Cancer Drug”
Calistoga Shows Cancer Drug Mechanism
Calistoga Pharmaceuticals, the Seattle-based developer of drugs for cancer and inflammatory diseases, said today its lead candidate for blood cancers appears to be working against tumors by disrupting chemokine signals and the tumor microenvironment. The findings were presented today at the European Hematology Association meeting in Barcelona. We reported last week on how the Calistoga … Continue reading “Calistoga Shows Cancer Drug Mechanism”
Onyx Lung Cancer Trial Fails
Onyx Pharmaceuticals (NASDAQ: [[ticker:ONXX]]), the Emeryville, CA-based cancer drug developer, said today that sorafenib (Nexavar) failed to reach its main goal of helping people live longer with non-small cell lung cancer in a study of about 900 patients. The drug is currently marketed to treat kidney cancer, and a type of liver cancer known as … Continue reading “Onyx Lung Cancer Trial Fails”
Farewell, Seattle: A Changing of the Xconomy Guard, and a New Beginning
For my last official post as Editor of Xconomy Seattle, let me tell you a quick story. It was a warm, cloudy day in June 2008. Two guys walked into an old office on First Hill, but only one guy walked out. That was me. I took the stairs. The other guy was the Qwest … Continue reading “Farewell, Seattle: A Changing of the Xconomy Guard, and a New Beginning”
BrainCells Inc, With Novel Depression Drug, Seeks a Way Forward After Mixed Result
BrainCells Inc. has made its name with a novel approach for treating depression, by stimulating the growth of new neurons. Now the San Diego-based company will have some hard choices to make, since a clinical trial showed its drug doesn’t work any better than a placebo for most people with depression. The results also suggest, … Continue reading “BrainCells Inc, With Novel Depression Drug, Seeks a Way Forward After Mixed Result”
BrightEdge Seeks Order, and Profits, in the Wild West of Search Engine Optimization
There’s not much distance, in the minds of many Web merchants and publishers, between the terms “search engine optimization consultant” and “snake oil salesman.” That’s partly because SEO—the attempt to bring more traffic to a website by improving its ranking in the unpaid section of a search results list—is a messy art with many complex … Continue reading “BrightEdge Seeks Order, and Profits, in the Wild West of Search Engine Optimization”
Castlight Collects $60M
Castlight Health, a stealth-mode San Francisco startup building software that lets its customers’ employees compare the costs of medical treatments and procedures, has raised $60 million in Series C venture funding, according to a report in Venture Wire. Existing investor Maverick Capital organized the round, which was joined by previous investors Venrock and Oak Investment … Continue reading “Castlight Collects $60M”
Xconomy Arrives in San Francisco Bay Area, Telling Stories of Innovation in the Global Capital of Technology and Entrepreneurship
MIT’s Robert Solow won the 1987 Nobel Prize in economics for showing that long-term growth in advanced economies like the United States is not driven so much by capital investment, the pillar of classic economics, as by technological progress. Nearly three years ago, on June 27, 2007, Xconomy began publishing online from Kendall Square, Cambridge, … Continue reading “Xconomy Arrives in San Francisco Bay Area, Telling Stories of Innovation in the Global Capital of Technology and Entrepreneurship”
Cognionics, Wireless Sensor Startup, Wins UCSD Entrepreneur Challenge
He got the beat. Yu “Mike” Chi, a graduate student in electrical engineering at UC San Diego, put a quarter-sized wireless sensor over his suit jacket and displayed the resulting electrocardiogram to win the UCSD Entrepreneur Challenge. The live demonstration on June 2 of technology that Chi had developed for his research thesis (and the … Continue reading “Cognionics, Wireless Sensor Startup, Wins UCSD Entrepreneur Challenge”
Three Ways To Make the Bay Area a More Stable Place for Innovation
1. Focus on real innovation to solve hard problems in needy markets. True innovation is all that matters. Unique products and ideas will always be able to find funding and are less likely to fall victim to boom/bust cycles. Too often, the “incremental, downside protection” or “me too” mentality takes over and you see features … Continue reading “Three Ways To Make the Bay Area a More Stable Place for Innovation”
The Story of Siri, from Birth at SRI to Acquisition by Apple—Virtual Personal Assistants Go Mobile
A couple of years ago, a $999 iPhone app called “I Am Rich” made headlines for being the most expensive item in Apple’s iTunes App Store. (It was the ultimate symbol of conspicuous consumption, doing nothing but displaying a glowing red icon.) But compared to Siri—the “virtual personal assistant” app that can make restaurant reservations, … Continue reading “The Story of Siri, from Birth at SRI to Acquisition by Apple—Virtual Personal Assistants Go Mobile”
Motricity, Riding the Mobile Software Wave, Primed for $85M IPO This Week
Motricity, the Bellevue, WA-based mobile software company, is getting ready to pull the trigger on an initial public offering this week that could net more than $85 million, according to Renaissance Capital. The company is planning to offer 6.75 million new shares at a range of $14 to $16 apiece, according to its most recent … Continue reading “Motricity, Riding the Mobile Software Wave, Primed for $85M IPO This Week”
Genetic Testing Companies in San Diego, Boston, & San Francisco Studying FDA Letters
Five companies that provide genetic testing services—including San Diego’s Illumina (NASDAQ: [[ticker:ILMN]]), 23andMe and Navigenics in the San Francisco Bay Area, and Knome in Cambridge, MA—no doubt spent the weekend parsing letters issued Friday by the FDA. The letters, which were posted on the FDA website and signed by Alberto Gutierrez of the FDA’s office … Continue reading “Genetic Testing Companies in San Diego, Boston, & San Francisco Studying FDA Letters”
2010’s Innovative Dozen: The XSITE Xpo Showcase Companies
[Updated, 6/16/10] We’re excited about our full-day Xconomy Summit on Innovation, Technology, & Entrepreneurship coming up this Thursday, June 17, which will be packed with presenters from all slices of the tech and startup space in the Boston area. And we’ll be capping off the day by bringing you a dozen young companies that we … Continue reading “2010’s Innovative Dozen: The XSITE Xpo Showcase Companies”
gogobot Secures $4,000,000 New Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=e7676436-8462-455d-8aaa-e2ae05630917&Preview=1 Date 6/14/2010 Company Name gogobot Mailing Address Undisclosed Palo Alto, CA 94301 Company Description Whether it is a week’s vacation, a business trip or a weekend getaway, we believe planning your trip should be almost as fun as the trip itself. We believe the best advice comes from people you trust … Continue reading “gogobot Secures $4,000,000 New Financing”
TerraPower Lands $35,000,000 New Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=f67c1f2f-c101-4f3e-9c36-198de07acdda&Preview=1 Date 6/14/2010 Company Name TerraPower Mailing Address Undisclosed San Francisco, CA 94105 Company Description TerraPower is working to develop so-called traveling-wave reactors, which would use depleted uranium as fuel and have the potential to run up to 100 years without refueling. Website Undisclosed Transaction Type Venture Equity Transaction Amount $35,000,000 Transaction … Continue reading “TerraPower Lands $35,000,000 New Financing Round”
Work Market Obtains Series A Funding Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=a4619b3c-e887-4a74-b1f2-0c57c091f674&Preview=1 Date 6/14/2010 Company Name Work Market Mailing Address Undisclosed New York, NY 10001 Company Description Work Market is a new venture, backed by Spark Capital and Union Square Ventures. We are building a modular web platform, designed to power anyone or any business to efficiently deliver and manage labor and services. … Continue reading “Work Market Obtains Series A Funding Round”
Journalism Online Obtains New Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=72eccb41-f0e2-4725-aa91-cbded7d3c3a2&Preview=1 Date 6/14/2010 Company Name Journalism Online Mailing Address 25 W. 52nd St. New York, NY 10019 Company Description The company is developing a platform to allow publishers to monetize their content online. Website http://www.journalismonline.com Transaction Type Venture Equity Transaction Amount Undisclosed Transaction Round Undisclosed Proceeds Purposes Proceeds purposes from the financing … Continue reading “Journalism Online Obtains New Financing Round”
Qualifying Therapeutic Discovery Project Tax Credit Partnering Day: BayBio Event
BayBio is gathering tax experts from Deloitte, Ernst & Young, PricewaterhouseCoopers, and RoseRyan to offer 30-minute consultations on how to pursue federal tax credits being made available through the recently passed healthcare legislation. This event is free, but limited to BayBio members only. For more information on how to register, click here.
Mission Bay Open House: QB3 & BayBio Event
QB3 and BayBio are working together on a big event on June 29 that combines tours of the Mission Bay facility, a panel discussion, and networking reception. The panel will feature Brook Byers of Kleiner Perkins Caufield & Byers, UCSF chancellor Susan Desmond-Hellmann, QB3 director Regis Kelly, BayBio CEO Gail Maderis, and Uwe Schoenbeck of … Continue reading “Mission Bay Open House: QB3 & BayBio Event”
From the Lab to Leadership: Summer 2010
The Washington Biotechnology & Biomedical Association, along with the Leadership Edge, are offering a course to help scientists make the transition into management, called “From the Laboratory to Leadership.” More than 3,000 scientists from 300 life sciences have participated in the program since inception. Session dates are June 23, June 30, July 14 and July … Continue reading “From the Lab to Leadership: Summer 2010”
Mindbloom, With New Social Game, Finds Niche in Health, Wellness, and “Gamification” of the Web
What sits at the intersection of health and wellness websites, virtual currencies, and “gamification” of the Web? Right now, a Seattle startup called Mindbloom. This is an outfit founded in 2008 by Chris Hewett and Brent Poole. Their mission is to help consumers lead more healthy, balanced and meaningful lives—and do it through a new … Continue reading “Mindbloom, With New Social Game, Finds Niche in Health, Wellness, and “Gamification” of the Web”
Exogenesis Brings in $3.7M
Exogenesis, a Billerica, MA-based biotech startup, has raised $3.7 million of a $4.1 million equity offering, according to an SEC filing. Members of Inflection Point Ventures and Venture Capital Fund of New England are listed as directors on the filing for the funding. Exogenesis, founded in 2005, develops what it calls “gas cluster ion beam … Continue reading “Exogenesis Brings in $3.7M”
Rib-X Adds $5.5M Debt
Rib-X Pharmaceuticals, the New Haven, CT-based developer of antibiotics, has raised another $5.5 million in debt and options, according to a regulatory filing. The deal could be worth as much as $15 million over time. We last wrote about Rib-X in March, when Mark Leuchtenberger replaced Susan Froshauer as the company’s CEO. Rib-X, founded in … Continue reading “Rib-X Adds $5.5M Debt”
Innovations in Smart Energy: Using IT and Other Advances to Curb Runaway Dependence on Fossil Fuels
Almost from the moment that Thomas Edison had the first filament of an idea, the light bulb has been a symbol of invention—and of the Eureka! moment that comes with innovation. But as public awareness of green and clean technologies has gained currency, the incandescent light bulb of yore might just as easily serve as … Continue reading “Innovations in Smart Energy: Using IT and Other Advances to Curb Runaway Dependence on Fossil Fuels”
Qualcomm Bids $1B to Win Broadband Wireless Spectrum in India
San Diego-based Qualcomm (NASDAQ:[[ticker:QCOM]]) says it submitted the winning bid in an auction for India’s broadband wireless access (BWA)—spectrum in the 2.3 gigahertz (GHz) band. In a statement today, the wireless technologies giant said it is the provisional winner of the 20 megahertz (MHz) slot in the telecom circles of four cities—Mumbai, Delhi, Haryan, and … Continue reading “Qualcomm Bids $1B to Win Broadband Wireless Spectrum in India”
Innovation Showcase, Presented by the Technology Alliance
The Innovation Showcase, a program of the Technology Alliance, helps bridge the gap between research and commercialization by highlighting the most promising discoveries and new technologies ready for commercialization in Washington, and promotes the networking and idea sharing that turn research into results. Showcases feature presentations by 3-6 innovators hand-selected by the Technology Alliance program … Continue reading “Innovation Showcase, Presented by the Technology Alliance”
UCSF Creates $6.2B Economic Output
UC San Francisco generates about $6.2 billion of industrial output in the nine-county Bay Area, according to a new economic impact report. The institution has 21,900 employees, making it the second-largest employer in San Francisco behind the city itself, according to the report by Economic & Planning Systems of Berkeley. The data came from the … Continue reading “UCSF Creates $6.2B Economic Output”
Open Science Summit 2010
Are you “a rapid, radical reboot of the global innovation system for a truly free and open 21st century knowledge economy?” That’s the aim of the first Open Science Summit, which will convene people “who want to liberate our scientific and technological commons to enable an new era of decentralized, distributed innovation to solve humanity’s … Continue reading “Open Science Summit 2010”
SonoSite Plans $50M Stock Buyback
SonoSite (NASDAQ: [[ticker:SONO]]), the Bothell, WA-based developer of portable ultrasound machines, said today it may spend as much as $50 million to buy back shares of its stock. The company may make purchases in private structured deals, or on the open market, at prices it said it considers appropriate. Earlier this year, SonoSite had another … Continue reading “SonoSite Plans $50M Stock Buyback”
Angels Put $1.2M into Thumbtack
Thumbtack.com, a San Francisco-based startup building an online directory of vetted service professionals, announced June 10 that it has collected $1.2 million in funding from what it called an “all-star cast” of Silicon Valley angel investors. Mark Britto of Amazon, Jason Calacanis of Mahalo, Mark Goines of Intuit and Mint, and Joshua Schachter of Delicious … Continue reading “Angels Put $1.2M into Thumbtack”
WEST Honors Women Leaders in Tech and Life Sciences to Encourage Others in the Fields
Here’s the latest in a string of events this month celebrating entrepreneurship (June is Innovation Month in New England). On Wednesday, Women Entrepreneurs in Science and Technology (WEST for short), a non-profit focused on connecting and assisting women in roles at tech and life sciences companies, held its third Leadership Awards celebration. It spotlighted women … Continue reading “WEST Honors Women Leaders in Tech and Life Sciences to Encourage Others in the Fields”
Aastrom Shows Off Vascular Results
Aastrom Biosciences, the Ann Arbor, MI-based developer of cell therapies for cardiovascular diseases, is presenting some new data on a clinical trial of its method against critical limb ischemia, a complication of clogged arteries that often leads to amputation and death. Detailed results from half of the first 90 patients are being presented today at … Continue reading “Aastrom Shows Off Vascular Results”
Wolverine, Early Stage Funds Invest in SaaS Firm
Wolverine Venture Fund, a $5.2 million student-led fund managed by the University of Michigan’s business school, and Early Stage Partners, a Cleveland based VC firm with an office in Ann Arbor, MI, have invested in Intelligent Clearing Network, a Connecticut-based software-as-a-service firm that validates and clears coupons in real time at point of sale, according … Continue reading “Wolverine, Early Stage Funds Invest in SaaS Firm”
Tech Tidbits: Bing Gets More Social, Facebook Signs Seattle Lease, Chinese Incubator Calls
It has been a busy week for little bits of technology news, amidst some more prominent deals. Here are three items in particular that caught my eye. The common theme among them, I would say, is the importance of relationship building in business. —Microsoft’s Bing search engine, one year old this month, has been in … Continue reading “Tech Tidbits: Bing Gets More Social, Facebook Signs Seattle Lease, Chinese Incubator Calls”
Biotech Drug Discovery in Seattle: A Look Back
The drug discovery and development process is a difficult one that takes considerable expertise in both the research and business realms. Seattle currently has approximately 103 biotechnology companies, 21 of which are publicly traded. The area also has a number of non-profit research organizations that participate in a variety of efforts to find new medicines. … Continue reading “Biotech Drug Discovery in Seattle: A Look Back”
ZymoGenetics Gets Upstaged, Calistoga Cancer Drug Matures, Cramer Replaces Kraemer, & More Seattle-Area Life Sciences News
This was a big biotech news week with the annual extravaganza for cancer drug developers, the American Society of Clinical Oncology (ASCO). Nobody from Seattle stood out on the world stage this year, although we heard about some people laying important groundwork for future ASCOs. —ZymoGenetics, the granddaddy of Seattle biotech, has had some bad … Continue reading “ZymoGenetics Gets Upstaged, Calistoga Cancer Drug Matures, Cramer Replaces Kraemer, & More Seattle-Area Life Sciences News”
In World Cup Broadcasts to Mobile TV Users, Qualcomm’s FLO TV Misses Bigger Goal—Fervor for World’s Most Popular Sporting Event
[Updated 6/18/10 4:10 pm. See below.] The World Cup soccer tournament that begins today in South Africa ranks as the world’s biggest sporting event in terms of broadcast audience. Alas, if only San Diego-based Qualcomm’s (NASDAQ: [[ticker:QCOM]]) FLO TV could tap a significant fraction of it. FLO TV, the Qualcomm subsidiary that provides the broadcast … Continue reading “In World Cup Broadcasts to Mobile TV Users, Qualcomm’s FLO TV Misses Bigger Goal—Fervor for World’s Most Popular Sporting Event”
Biogen CEO Retires, Genzyme Board Nominates Amgen Vet and Strikes Deal with Icahn, Xconomy Spotlights Life Sciences XSITE Speakers, & More Boston-Area Life Sciences News
We were buzzing this week with news from the boardrooms at big pharma companies, introductions to the life sciences personalities presenting at our XSITE innovation forum, and profiles on emerging health IT companies. —IBM declared medicine authentication company Sproxil the winner of its Boston SmartCamp, a day-long competition for companies working in “smart” technology, which … Continue reading “Biogen CEO Retires, Genzyme Board Nominates Amgen Vet and Strikes Deal with Icahn, Xconomy Spotlights Life Sciences XSITE Speakers, & More Boston-Area Life Sciences News”
Intelligent Clearing Network Secures New Funding Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=37a20f59-ee54-47ac-80e4-51058cc22ea5&Preview=1 Date 6/11/2010 Company Name Intelligent Clearing Network Mailing Address 31 Lakeview Ave. New Canaan, CT 06840 Company Description ICN was founded by a team of software engineers and business managers who realized that the efficiency and fraud related to coupons was well documented and persistent. While digital couponing is by far … Continue reading “Intelligent Clearing Network Secures New Funding Round”
Inotek Pharmaceuticals Secures $18,000,000 Series D Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=d34e08eb-6cbd-4776-93b4-a3f16a4aab47&Preview=1 Date 6/11/2010 Company Name Inotek Pharmaceuticals Mailing Address 33 Hayden Avenue 2nd Floor Lexington, MA 02421 Company Description Inotek Pharmaceuticals Corporation is a private, high-growth, development-stage pharmaceutical company founded in 1996. The Company has leveraged its small molecule chemistry expertise to discover and develop a deep pipeline of therapeutics targeting cell … Continue reading “Inotek Pharmaceuticals Secures $18,000,000 Series D Financing Round”
Otonomy Lands $10,000,000 Series A Funding
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=771e4b2f-8aa1-4854-b840-248955c3e9e6&Preview=1 Date 6/11/2010 Company Name Otonomy Mailing Address 5626 Oberlin Dr. San Diego, CA 92121 Company Description Otonomy is a clinical stage biopharmaceutical company developing novel drug therapies for disorders of the inner and middle ear. This field represents a large opportunity as there are no approved drug treatments for the nearly … Continue reading “Otonomy Lands $10,000,000 Series A Funding”