Uptake Medical Corp Secures $1,200,000 New Financing

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=6648ca5c-75f0-46dd-b577-9b955c4dcf38&Preview=1 Date 10/9/2009 Company Name Uptake Medical Corp Mailing Address 1924 1st Avenue 3rd Floor Seattle, WA 98101 Company Description Uptake Medical Corporation is a Seattle-based medical device company dedicated to improving the lives of patients suffering from emphysema and other types of chronic obstructive pulmonary diseases (COPD). Website http://www.uptakemedical.com/ Transaction Type … Continue reading “Uptake Medical Corp Secures $1,200,000 New Financing”

Omeros, First U.S. Biotech IPO Since February 2008, Sees Shares Drop 13 Percent in First Day

Shares of Seattle-based Omeros, the first true U.S. biotech company to go public in more than 18 months, dropped about 13 percent in the company’s first day of trading. Omeros (NASDAQ: [[ticker:OMER]]) opened trading at $10, but tumbled $1.27, or 13 percent, to close its first day at $8.73. The company now has 21.3 million … Continue reading “Omeros, First U.S. Biotech IPO Since February 2008, Sees Shares Drop 13 Percent in First Day”

Polaris Picks Immuneering, Developer of Personalized Cancer Test, as First Life Sciences Startup in Dog Patch Incubator

Immuneering, the Cambridge, MA-based developer of computer models that aim to predict which patients are likely to respond to certain cancer drugs, has found a new home as the first life sciences startup to join Polaris Venture Partners‘ new Dog Patch Labs startup incubator in Cambridge. Immuneering is the brainchild of CEO Ben Zeskind, a … Continue reading “Polaris Picks Immuneering, Developer of Personalized Cancer Test, as First Life Sciences Startup in Dog Patch Incubator”

2009 Legislative Innovation Day

Innovation Day is an opportunity for legislators and their staff to get to know venture-backed companies and the venture community that supports this vital part of the Massachusetts economy. The program includes welcoming remarks by legislators, a showcase of innovation companies, and a panel discussion about innovation in Massachusetts. The public is welcome. For more … Continue reading “2009 Legislative Innovation Day”

Memo from Ray Ozzie: New Lab Will Use Social Computing to Strengthen Microsoft Products

Ray Ozzie, Microsoft’s chief software architect, announced today the company is forming a new laboratory called Future Social Experience Labs, or FUSE Labs, which will focus on aspects of “social computing” beyond just communication and collaboration. The move is part of a wider restructuring of Microsoft’s labs: FUSE Labs is a merger between the Creative … Continue reading “Memo from Ray Ozzie: New Lab Will Use Social Computing to Strengthen Microsoft Products”

Fundraising Tide Remains Low for Venture Capital Firms

Fundraising by U.S. venture capital firms continues to lag. A survey released overnight by Dow Jones Private Equity Analyst shows that 26 VC funds raised about $3.5 billion during the three months that ended September 30—down about 51 percent from the same quarter last year. The findings nevertheless represented an improvement over the previous quarter, … Continue reading “Fundraising Tide Remains Low for Venture Capital Firms”

Paratek and Novartis Strike Antibiotic Deal

Paratek Pharmaceuticals, a Boston-based firm focused on treating infections that are immune to existing antibiotics, said it has struck an exclusive deal with Swiss drug giant Novartis for worldwide development and commercialization of its experimental aminomethylcycline antibiotic drug, classified as PTK 0796. The deal could bring as much as $485 million in initial fees and … Continue reading “Paratek and Novartis Strike Antibiotic Deal”

Washington Companies Raised $84.9M in September—But Mostly in One Deal

Venture financing perked up last month, at least for a handful of Seattle-area startups and young companies. VCs and corporate investors poured $76.9 million into five Washington-based companies in September, according to data provided to Xconomy by ChubbyBrain, a New York-based information services company that develops tools for investors, startups, and entrepreneurs. There were also … Continue reading “Washington Companies Raised $84.9M in September—But Mostly in One Deal”

‘Restraint’ an Unspoken Watchword of Algae Biomass Sessions

A few basic themes seemed to emerge in the first few presentations yesterday afternoon during the 3rd Annual Algae Biomass Summit. One theme is that the algae biofuels industry remains at a nascent stage of development, despite widespread enthusiasm over the size of San Diego-based Synthetic Genomics’ deal with ExxonMobil, and venture funding for Sapphire … Continue reading “‘Restraint’ an Unspoken Watchword of Algae Biomass Sessions”

Reed Sturtevant Leaves Microsoft Startup Labs

Barely two years after he joined Microsoft here in Cambridge, MA, to launch its new Startup Labs, Reed Sturtevant is leaving the company to “pursue other interests,” Microsoft announced today. Sturtevant’s departure was part of a broader announcement that Ray Ozzie, to whom Sturtevant reported, had reorganized his group to create the new Future Social … Continue reading “Reed Sturtevant Leaves Microsoft Startup Labs”

The Boston Biotech Survival Index: Big Fish Still Swimming, Minnows Getting Eaten

New England has a deep pond with many of the very biggest fish in the global life sciences industry, but it also has its share of minnows, and they are getting eaten alive in the downturn. That finding leaped out at me after I scoured through financial data on 85 publicly traded life sciences companies … Continue reading “The Boston Biotech Survival Index: Big Fish Still Swimming, Minnows Getting Eaten”

Omeros Raises $68.2M in Washington’s First IPO in Two Years

Omeros, the Seattle biotech company developing a treatment to improve recovery from knee surgery, completed its initial public offering late last night in the state’s first IPO in more than two years. The company sold 6.82 million shares to investors at $10 apiece, for total proceeds of $68.2 million. The underwriters of the offering, led … Continue reading “Omeros Raises $68.2M in Washington’s First IPO in Two Years”

$1.5M for LegiTime Technologies

LegiTime Technologies, a Farmington, CT-based developer of software that organizes and secures text messages on mobile phones, has raised $1.5 million in equity financing, according to an SEC filing. Company executives could not be immediately reached this morning. The regulatory filing does not identify the investors in the round, but the firm’s website says that … Continue reading “$1.5M for LegiTime Technologies”

Justice Department Joins Sequenom Probe, Accumetrics Raises $16.5, Transdel’s Topical Pain Reliever Gets Mixed Results, & More San Diego Life Sciences News

The life sciences news was relatively light over the last week, except perhaps for Sequenom, the medical diagnostics company that has yet to publicly disclose much about its misconduct in handling clinical trial data. —Sequenom (NASDAQ: [[ticker:SQNM]]) disclosed that it met with the FBI and the U.S. Attorney’s Office in San Diego in connection with … Continue reading “Justice Department Joins Sequenom Probe, Accumetrics Raises $16.5, Transdel’s Topical Pain Reliever Gets Mixed Results, & More San Diego Life Sciences News”

“Not Your Father’s Route 128”: Jason Schupbach Promotes Massachusetts’ Creative Economy

In his 2006 run for the Massachusetts governor’s office, Deval Patrick campaigned on the need to make the most of the state’s “creative economy,” meaning industries such as advertising, architecture, design, digital media, film, gaming, marketing, music, publishing, tourism, and the arts. It’s a sector that employs at least 100,000 people in the state, and … Continue reading ““Not Your Father’s Route 128”: Jason Schupbach Promotes Massachusetts’ Creative Economy”

Bigtime Biotech Thinkers Steven Burrill and Gary Pisano Agree on Bright Future of Industry, Disagree on How to Build Value

Harvard Business School professor Gary Pisano is considered a leading scholar of biotech industry economics, and has developed a reputation for providing treatises on how biotech firms have been unable to generate profits throughout history. Steven Burrill gives his own critiques in his life sciences banking and investment firm Burrill & Company’s industry reports. These … Continue reading “Bigtime Biotech Thinkers Steven Burrill and Gary Pisano Agree on Bright Future of Industry, Disagree on How to Build Value”

Omeros Accused on Eve of IPO, Seattle Genetics Trial Fails, How Much Biotechies Really Earn, & More Seattle-Area Life Sciences News

Omeros is attempting to become the first true biotech company to go public in more than a year, and the first in Washington state in two years, but it will have to overcome controversy to do it. —Seattle-based Omeros, the biotech company with a treatment to help patients recover from knee surgery, has been listed … Continue reading “Omeros Accused on Eve of IPO, Seattle Genetics Trial Fails, How Much Biotechies Really Earn, & More Seattle-Area Life Sciences News”

Venture Model Makeover & Diet Plan—Step Two

The venture capital model is being remade. It must happen from the ground up, via its relationship with entrepreneurs, as Daphne Zohar has previously described here. But it must also happen from the top down, via its relationship with limited partners (the investors in venture funds). Limited partners in venture capital funds aren’t very happy … Continue reading “Venture Model Makeover & Diet Plan—Step Two”

MIT Plans New Online Publication About Entrepreneurship

MIT is planning to launch a student-led online publication focused on entrepreneurship by the end of the year, a leader of the effort tells Xconomy. The fledgling publication will be called the MIT Entrepreneurship Review (MITER) and will aim to serve as a resource for entrepreneurs and to raise the already high profile of the … Continue reading “MIT Plans New Online Publication About Entrepreneurship”

Legislators Hear Testimony on Non-Compete Restrictions

Today marked a milestone in the legislation relating to non-competes in Massachusetts. The Joint Committee on Labor and Workforce Development held its public hearing on two house bills that would attempt to redefine the rules governing “restrictive employee covenants and non-compete agreements.” This effort began in early January when Rep. William N. Brownsberger (24th Middlesex … Continue reading “Legislators Hear Testimony on Non-Compete Restrictions”

LegiTime Technologies Lands $1,500,000 New Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=b674bdbb-5cee-47b4-97f8-146db4912b1f&Preview=1 Date 10/8/2009 Company Name LegiTime Technologies Mailing Address 321 Main St Farmington, CT 06032 Company Description LegiTime licenses and integrates its Demonstration of Legitimacy (DOL) technology to secure electronic communications. The company has developed a unique security solution for the mobile communication and mobile commerce market, with a future product roadmap … Continue reading “LegiTime Technologies Lands $1,500,000 New Round”

Fresco Garners $9,500,000 New Funding

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=2dde2b63-d644-4ec7-a19c-17c6af8def68&Preview=1 Date 10/8/2009 Company Name Fresco Mailing Address 6 Jenner Street Irvine, CA 92618 Company Description Fresco Microchip is an innovative fabless semiconductor company that has taken a new approach to an old problem – the challenge of converting analog to digital. Focused on the broad consumer electronics market, the company uniquely … Continue reading “Fresco Garners $9,500,000 New Funding”

BLI Messaging Receives Series B Financing

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=3206a9bc-0a3c-4fe6-95f5-019399316b60&Preview=1 Date 10/8/2009 Company Name BLI Messaging Mailing Address 125 Whipple Street Providence, RI 02908 Company Description The company provides mass email, voice, fax and SMS marketing solutions. Website http://www.blimessaging.com Transaction Type Venture Equity Transaction Amount Undisclosed Transaction Round Series B Proceeds Purposes The funding will be used to execute the company’s … Continue reading “BLI Messaging Receives Series B Financing”

Omeros Corporation Garners $68,200,000 New Funding

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=934d0355-a89c-4e77-a6ec-ef46236cda69&Preview=1 Date 10/8/2009 Company Name Omeros Corporation Mailing Address 1420 Fifth Avenue Seattle, WA 98101 Company Description Omeros recognized that a combination of agents acting on multiple molecular targets may be required for optimal therapeutic effect. Omeros’ product candidates are designed to modulate the molecular mechanisms of pathologic conditions rather than just … Continue reading “Omeros Corporation Garners $68,200,000 New Funding”

Surf Canyon Obtains $250,000 New Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=71c4ca70-704d-4370-b3e5-b77dba253570&Preview=1 Date 10/8/2009 Company Name Surf Canyon Mailing Address 274 14th Street Oakland, CA 94612 Company Description Using semantic real-time implicit personalization, Surf Canyon develops Discovery for Search™. This patent-pending technology is embedded in a browser extension that can work with virtually any third-party search engine, and assists users in finding relevant … Continue reading “Surf Canyon Obtains $250,000 New Round”

Box.net Acquires Increo Solutions for Undisclosed Sum

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=e14d09b5-2190-45ad-a048-04702370b600&Preview=1 Date 10/8/2009 Company Name Increo Solutions Mailing Address 2672 Bayshore Parkway Mountain View, CA 94043 Company Description We are the leading idea management platform – helping you to identify the best ideas and make them even better. Website http://www.increosolutions.com Transaction Type M&A Transaction Amount Undisclosed Transaction Round Proceeds Purposes M&A Terms … Continue reading “Box.net Acquires Increo Solutions for Undisclosed Sum”

Glympse and TravellingWave Step Out, Microsoft Does Voice Search, and More Mobile News

It’s been a very busy week for news in the mobile industry. First, Amazon (NASDAQ: [[ticker:AMZN]]) rolled out a one-click mobile payments service that promises to shake up the world of mobile-app developers and distributors. Then it seems like all hell broke loose, courtesy of the massive CTIA wireless expo going on in San Diego … Continue reading “Glympse and TravellingWave Step Out, Microsoft Does Voice Search, and More Mobile News”

OEN Names 12 Companies for Forum

The Oregon Entrepreneurs Network (OEN) has announced its lineup of 12 presenting companies for the Venture Northwest 2009 investment forum, to be held on Oct. 29 at The Nine’s Hotel in Portland, OR. The Seattle-area companies are Calidora Skin Systems, Doxo, Lucid Commerce, and MicroGreen Polymers, while the Portland-area companies are Advanced Inquiry Systems, Cularis, … Continue reading “OEN Names 12 Companies for Forum”

Epizyme Snags $32M Round to Make Drugs Against Cancer and More

Epizyme, the Cambridge, MA-based biotech company developing drugs based on insights from epigenetics into how to turn specific genes on and off, said today it has raised $32 million in a Series B venture round. San Francisco-based Bay City Capital led the round, which included Amgen Ventures, Astellas Venture Partners and the company’s original investors, … Continue reading “Epizyme Snags $32M Round to Make Drugs Against Cancer and More”

Daptiv Adds $2M From Management

Seattle-based Daptiv, a maker of online project management software, has received $2 million in new funding, according to a regulatory filing. The cash comes primarily from the company’s management, including new CEO Chase Franklin, chairman Kevin Hickey, and chief operating officer Mark Klebanoff, as TechFlash reports. Daptiv was founded in 1997 (as eProject), and has … Continue reading “Daptiv Adds $2M From Management”

Deshpande Center Awards 8 Grants

The Deshpande Center for Technological Innovation at MIT today announced the recipients of its Fall 2009 research grants. The funds, $600,000 in all, will go to eight teams working on early-stage projects the areas of composite materials, diagnostics, disease therapies, drug discovery, diabetes treatment, high power electronics, energy efficient displays, and sensors. Recipients include Vladimir … Continue reading “Deshpande Center Awards 8 Grants”

Gary West on San Diego’s West Wireless Health Institute and ‘Always On’ Medicine

As the international wireless industry group CTIA convenes its 2009 conference on information technology and entertainment in downtown San Diego this week, one of the emerging sectors claiming much of the agenda and industry attention is wireless healthcare. San Diego, with its concentration of both life sciences and wireless technology startups, also has emerged as … Continue reading “Gary West on San Diego’s West Wireless Health Institute and ‘Always On’ Medicine”

Xconomy Forum: Pharma’s Bet on Boston Innovation

It’s no secret: Big Pharma faces big challenges. The industry could lose tens of billions in sales to generics over the next five years as patented drugs lose protected status. Pharmaceutical firms are fighting back by pumping record dollars into R&D, yet companies only won FDA approval last year for 21 new drugs. To increase … Continue reading “Xconomy Forum: Pharma’s Bet on Boston Innovation”

Gomez Takes $295M Buyout Offer

It’s good to be Gomez. The Lexington, MA-based software firm has agreed to be purchased by Detroit’s Compuware (NASDAQ:[[ticker:CPWR]]) for $295 million in cash, the companies report today. Gomez, which provides performance-management software for Web and mobile applications, was already in registration for an $80.5 million IPO and had raised, according to PeHub, $66 million … Continue reading “Gomez Takes $295M Buyout Offer”

PermissionTV Reinvents Itself as VisibleGains, Offers Interactive Video for Sales and Marketing

Sometimes, you need to keep the diamond and replace the ring. That’s how Cliff Pollan, recruited in March to be president and CEO of Waltham, MA-based VisibleGains, describes the process his company has been through over the last six months. In this case, the company has kept its core technology, an interactive video engine that … Continue reading “PermissionTV Reinvents Itself as VisibleGains, Offers Interactive Video for Sales and Marketing”

Geospiza Wins NIH Cancer Grant

Geospiza, the Seattle-based maker of software to help researchers analyze genomic data, said today it has been awarded a $110,000 Small Business Innovation Research Grant from the National Human Genome Research Institute to improve methods for spotting rare gene mutations that may determine how a cancer cell grows, and whether it will resist treatment.

Royalty-Based Venture Financing, Born in Boston, Could Shake Up VCs and Startups from New England to the Northwest

Every once in a while, an investment model comes along that turns the innovation community on its head. The venture capital industry, still less than 50 years old, is one example. Now an emerging paradigm called royalty-based financing, applied to early-stage startups, may be another. The approach has its roots in the Boston area, and … Continue reading “Royalty-Based Venture Financing, Born in Boston, Could Shake Up VCs and Startups from New England to the Northwest”

As Algae Summit Begins, San Diego Yearns to Make Houston Green With Envy

The 2009 Algae Biomass Summit gets underway in San Diego today, offering the latest sign of the algae biofuels sector that has bloomed in San Diego in recent years. Cleantech San Diego president Lisa Bicker told reporters at a pre-summit news conference last night that more than 625 cleantech companies are now based in the … Continue reading “As Algae Summit Begins, San Diego Yearns to Make Houston Green With Envy”

DC Matters, But Biotech Can’t Neglect City Hall

Biotechnology companies who’ve taken time to focus on politics over the last few years have focused most of their attention on national-level issues. That’s understandable given the renewal of the Prescription Drug User Fee Act that controls FDA deadlines for reviewing new drug applications, legislation that would make it possible for makers of cheaper “biosimilar” … Continue reading “DC Matters, But Biotech Can’t Neglect City Hall”

Alnylam Chief Foresees Another Gene-Silencing Spin-Off, and More News Tidbits from Boston’s MassBio Investors Forum

Alnylam Pharmaceuticals (NASDAQ:[[ticker:ALNY]]) had more than $470 million in the bank as of the last official count at the end of June, so it struck me as odd that the Cambridge, MA-based developer of gene-silencing drugs was a presenter along with dozens of cash-starved biotech startups at the MassBio Investors Forum in Boston yesterday. Alnylam … Continue reading “Alnylam Chief Foresees Another Gene-Silencing Spin-Off, and More News Tidbits from Boston’s MassBio Investors Forum”

As Legislators Ponder Non-Compete Agreements, A Look at Massachusetts’ Innovation History

This article was written with Geoff Mamlet. Today, some of our legislators will hold a hearing at the State House to discuss changes in Massachusetts’ non-compete laws. They would do well to heed our own past as an open employment state. In the mid-1780s, Samuel Slater was a young apprentice in England working for the … Continue reading “As Legislators Ponder Non-Compete Agreements, A Look at Massachusetts’ Innovation History”

Epizyme Receives $32,000,000 Series B Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=f4d32d67-b420-4ae2-9f3c-00fceb305f0f&Preview=1 Date 10/7/2009 Company Name Epizyme Mailing Address 840 Memorial Drive Cambridge, MA 02139 Company Description Epizyme is a biopharmaceutical company located in Cambridge, MA. Founded in late 2007, the company has brought together premier academic and industry leaders to rapidly translate the exciting discoveries emerging from epigenetic research into specific programs … Continue reading “Epizyme Receives $32,000,000 Series B Round”

Daptiv Obtains $2,000,000 New Funding Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=b59de500-170e-4a35-bea4-0f8d5dfc8a15&Preview=1 Date 10/7/2009 Company Name Daptiv Mailing Address 1008 Western Avenue Seattle, WA 98104 Company Description Daptiv is the on-demand leader in collaborative business software that enables companies of all sizes to transform their mid-office business operations. From new product development to operations and service delivery, Daptiv’s on-demand solutions streamline employees’ day-to-day … Continue reading “Daptiv Obtains $2,000,000 New Funding Round”

Compuware Acquires Gomez for $295,000,000

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=9c09ddaa-b603-4ff1-9e8e-ccfbda8df5a5&Preview=1 Date 10/7/2009 Company Name Gomez Mailing Address 10 Maguire Road Lexington, MA 02421-3110 Company Description Gomez works with companies to increase profitability and eliminate the risks associated with failed or slow delivery of their mission-critical Internet applications. We provide actionable insights and process improvement techniques that enable customers to define, achieve, … Continue reading “Compuware Acquires Gomez for $295,000,000”

Breach Security Garners $5,000,000 New Funding

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=22c06904-234a-4eb6-a62f-993662bade87&Preview=1 Date 10/7/2009 Company Name Breach Security Mailing Address 2141 Palomar Airport Road Carlsbad, CA 92011 Company Description Breach Security, Inc. provides next-generation web application security to protect privileged information. Breach, a leader in the emerging market for Intelligent Web Application Security, addresses todays security needs by delivering solutions for enterprises and … Continue reading “Breach Security Garners $5,000,000 New Funding”

Clickability Receives $4,000,000 New Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=a1cb2f12-55c9-47cc-b9d1-157e075d0655&Preview=1 Date 10/7/2009 Company Name Clickability Mailing Address 580 California Street 7th Floor San Francisco, CA 94104 Company Description As a fully integrated solution, all Clickability components work together seamlessly to give the web publisher ultimate control over site publication and measurement; as individual modules, each piece can be integrated into an … Continue reading “Clickability Receives $4,000,000 New Round”

Threshold Pharmaceuticals Receives $35,000,000 New Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=f6e3cee4-c765-474d-abbb-99b403f86048&Preview=1 Date 10/7/2009 Company Name Threshold Pharmaceuticals Mailing Address 1300 Seaport Blvd Redwood City, CA 94063 Company Description Threshold is a biotechnology company focused on the discovery and development of small molecule therapeutics based on Metabolic Targeting, a powerful scientific approach that offers broad potential to treat most solid tumors and certain … Continue reading “Threshold Pharmaceuticals Receives $35,000,000 New Round”

Engine Yard Garners $19,000,000 Series C Financing

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=f5271a4a-28eb-4320-99c5-d35476262651&Preview=1 Date 10/7/2009 Company Name Engine Yard Mailing Address 500 Third Street San Francisco, CA 94107 Company Description Engine Yard came about in early 2006 because we saw a genuine need: clients were developing business-critical Rails apps, but they didn’t want to worry about deployment issues, nor did they want to hire … Continue reading “Engine Yard Garners $19,000,000 Series C Financing”

Technology Commercialization in Difficult Times

Leroy Hood, the biotech pioneer and president of the Institute for Systems Biology in Seattle, will join Accelerator CEO Carl Weissman for a discussion on technology commercialization in difficult times. The event will be held from 5-8 pm at Town Hall Seattle on Nov. 12. For more information and to register, click here.