Learn how to focus on the right priorities and how to avoid common venture deal killers in this half-day workshop led by Peter Townshend of the McDermott Will & Emery law firm and Ken Selzer of Finistere Ventures. More information is available here. Registration begins at 7:30 a.m.
Covidien to Buy Aspect Medical for $210M
Irish healthcare products giant Covidien (NYSE:[[ticker:COV]]) has reached an agreement to purchase Aspect Medical Systems (NASDAQ:[[ticker:ASPM]]), a Norwood, MA-based company specializing in braining monitoring technology, for approximately $210 million in cash, Covidien announced today. Aspect, founded in 1987, will become part of Covidien’s Oximetry and Monitoring product line inside the Medical Devices segment, according to … Continue reading “Covidien to Buy Aspect Medical for $210M”
Egenera Picks Up $3M
Marlborough, MA-based Egenera has raised $3 million in new equity financing, according to regulatory forms filed today. An executive for the company, which makes software for managing physical and virtual servers in corporate data centers, told Mass High Tech the funds came from existing investors, a group that includes Austin Ventures, Crosslink Capital, Kodiak Venture … Continue reading “Egenera Picks Up $3M”
Xerox Spends $6.4B on ACS
Xerox (NYSE: [[ticker:XRX]]), the document-management giant headquartered in Norwalk, CT, said today that it will buy Affiliated Computer Services (NYSE: [[ticker:ACS]]), a Dallas, TX-based business process outsourcing firm, for $6.4 billion in cash and stock. The acquisition will turn Xerox—like IBM or Dell—into a hybrid technology and services firm; ACS has 74,000 employees focusing on … Continue reading “Xerox Spends $6.4B on ACS”
WTIA Merges With TechAmerica, Gets More Electronics and Device Companies On Board
The Washington Technology Industry Association (WTIA) announced today it is joining forces with TechAmerica, the advocacy organization, to become a unified tech entity in Washington state. The move broadens WTIA’s membership to include more companies in hardware, electronics, and devices, which complements the trade association’s strengths in software, digital media, and telecom, says Ken Myer, … Continue reading “WTIA Merges With TechAmerica, Gets More Electronics and Device Companies On Board”
ZymoGenetics Partner Halts Multiple Sclerosis Trials After Drug Fails
More bad news out of ZymoGenetics (NASDAQ: [[ticker:ZGEN]]) this morning. The Seattle-based biotech company disclosed in a regulatory filing today that its partner, Germany-based pharmaceutical giant Merck KGaA, has halted studies of their atacicept drug candidate for multiple sclerosis after concluding the drug’s benefit wasn’t worth the risk. One trial showed that multiple sclerosis patients … Continue reading “ZymoGenetics Partner Halts Multiple Sclerosis Trials After Drug Fails”
Virginia is for Lovers—and SAIC, MeLLmo Raises $4M, DEMOfall ’09 Comes to Town, & More San Diego BizTech News
Earlier this year, defense contractor SAIC celebrated the 40th anniversary of its founding near a ballet studio in La Jolla. Now the company, which has more than 45,000 employees, has moved its headquarters from San Diego to McLean, VA. Get that and the rest of the local technology innovation news here. —Defense contractor SAIC, which … Continue reading “Virginia is for Lovers—and SAIC, MeLLmo Raises $4M, DEMOfall ’09 Comes to Town, & More San Diego BizTech News”
Appature Looks to Land Venture Funding, Go Big in Healthcare Marketing Software
Healthcare-IT is a hot topic in Seattle these days—and it’s about to get even hotter. Sources with knowledge of the company tell me Appature, a two-and-a-half-year-old Seattle startup focused on improving marketing and customer relationship management in the healthcare industry, is close to getting its first round of venture funding—and may even be the subject … Continue reading “Appature Looks to Land Venture Funding, Go Big in Healthcare Marketing Software”
Alkermes’ Ambitious Builder, Richard Pops, Grabs Reins to Re-Ignite Growth Phase
Richard Pops is not the sort of guy to sit still and patiently wait for good things to happen. He took the CEO job at Cambridge, MA-based Alkermes when he was just 28 years old, built it from 20 employees to more than 400, and made it profitable by the end of his 16-year run … Continue reading “Alkermes’ Ambitious Builder, Richard Pops, Grabs Reins to Re-Ignite Growth Phase”
Botox’s Singh Moves on to San Diego’s Transdel, Developer of Pain Reliever to Rival Advil
The woman who helped bring the famous anti-wrinkle treatment Botox to the U.S. market is working on a pain reliever that she says can compete with some of the best-known drugs in the world—Tylenol and Advil. Her name is Juliet Singh, and she’s the CEO of a tiny La Jolla, CA-based company called Transdel Pharmaceuticals. … Continue reading “Botox’s Singh Moves on to San Diego’s Transdel, Developer of Pain Reliever to Rival Advil”
From Academics to Biotech: A Journey to the Supposed “Dark Side”
If you had told me last year that today I would be running the offices of Accelerator Corporation—at least for one morning while everyone is out of town—I would have probably sniffed in disdain, tossed my hair, and shuffled back to my post-doc lab bench, a free donut in one hand (magic vendor food) and … Continue reading “From Academics to Biotech: A Journey to the Supposed “Dark Side””
It’s About Health Care, Not Health Insurance
Health care reform discussions almost always revolve around health insurance, as if care and insurance are synonymous. Understanding the difference can lead to the delivery of better care for less money, and help break the health care reform logjam in Congress. An amendment introduced this week by U.S. Senator Maria Cantwell to America’s Healthy Future … Continue reading “It’s About Health Care, Not Health Insurance”
Robonica President, an Ex-Hasbro Exec, Hopes to Put Boston Back on Toy Industry Map with Rolling Robots
Boston is home to a huge cluster of hot game companies, from Harmonix to Turbine to 38 Studios. But you might be surprised to learn just how deep the region’s gaming history goes. If Xconomy had been around a century ago, we probably would have been writing about Parker Brothers, which got its start in … Continue reading “Robonica President, an Ex-Hasbro Exec, Hopes to Put Boston Back on Toy Industry Map with Rolling Robots”
Egenera Garners $3,000,000 New Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=72624547-cf8e-450b-92b8-23702465cf7a&Preview=1 Date 9/28/2009 Company Name Egenera Mailing Address 165 Forest Street Marlboro, MA 01752 Company Description Egenera is a global leader in delivering computing solutions that simplify datacenter operations and infrastructure. The Egenera BladeFrame product family simplifies the datacenter with an innovative server architecture specifically designed to reduce complexity and enable IT … Continue reading “Egenera Garners $3,000,000 New Financing Round”
Unisfair Lands $3,200,000 New Funding
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=a0f85ee9-2a16-48d9-b1d0-963bfcd1062c&Preview=1 Date 9/28/2009 Company Name Unisfair Mailing Address 149 Commonwealth Drive Menlo Park, CA 94025 Company Description Unisfair powers the world’s virtual events and virtual business environments. Virtual events and business environments are used for marketing, recruiting and training purposes. If it can be done physically, Unisfair can replicate it virtually — … Continue reading “Unisfair Lands $3,200,000 New Funding”
Amazon Plows Ahead in E-Books, Electronics, and Retail—An Update
For some reason, it has been even harder than usual to keep up with Amazon (NASDAQ: [[ticker:AMZN]]) this month. Here’s a quick roundup of the week’s most interesting news regarding the Internet giant’s place in the e-book and retail world. —Every day, it seems like a new e-book reader comes on the market to compete … Continue reading “Amazon Plows Ahead in E-Books, Electronics, and Retail—An Update”
Naverus Gets FAA Approval for U.S. Public Use
Kent, WA-based Naverus announced today it has received approval from the Federal Aviation Administration to design and test “required navigation performance” flight paths for public use in the U.S. That means Naverus’s navigation software and flight patch design can now be used widely by U.S. airports and airlines to help make flights faster, safer, and … Continue reading “Naverus Gets FAA Approval for U.S. Public Use”
MassTLC Innovation unConference 2009
From the event description: “Four generations of entrepreneurs will gather on October 1, 2009 with the focus on driving innovation in the region. Unlike the planned sessions and passive audiences of typical conferences, MassTLC’s Innovation 2009 is an unConference where the agenda is formed organically by all attendees the day of the event. No podiums. … Continue reading “MassTLC Innovation unConference 2009”
$10M for Tetraphase
Watertown, MA-based Tetraphase Pharmaceuticals has raised $10 million out of a planned $29.6 million equity financing round, according to regulatory documents filed Wednesday. The Harvard spinoff, which is using synthetic chemistry to develop new antibiotics for drug-resistant infections, previously raised $25 million in two tranches that closed in August 2008.
Fifth Conference on Clean Energy
At the Conference on Clean Energy, co-produced by the Massachusetts Technology Transfer Center and the Massachusetts Hydrogen Coalition, stakeholders in business, innovation, academic and government organizations gather for a showcase of clean energy startups and presentations by industry, finance, international and university panels representing the cluster. The official conference website is here; registration info is … Continue reading “Fifth Conference on Clean Energy”
CEO Chase Franklin on Daptiv’s “Tremendous Potential”—and an Offer He Couldn’t Refuse
On Monday, Seattle-based Daptiv, a maker of project management software, announced Chase Franklin has joined the firm as its new chief executive. Franklin, the former co-founder and CEO of Qpass (now owned by Amdocs), succeeds Jeff Pancottine, who stepped down as Daptiv’s CEO this summer. I reached Franklin by e-mail this week to hear his … Continue reading “CEO Chase Franklin on Daptiv’s “Tremendous Potential”—and an Offer He Couldn’t Refuse”
A123Systems Pulls Off Big IPO, PrimeraDx Grabs $20M, Conduit Labs Collects $3M, and More Boston-Area Deals News
The big news this week was obviously the A123Systems IPO, but quite a few other New England tech and life sciences firms had deals to report as well. —Mansfield, MA-based PrimeraDx—a developer of automated lab equipment spun off by Providence, RI-based Sention four years ago—raised $20 million in a Series C financing round. New investor … Continue reading “A123Systems Pulls Off Big IPO, PrimeraDx Grabs $20M, Conduit Labs Collects $3M, and More Boston-Area Deals News”
Ansel Adams Meets Apple: The Camera Phone Craze in Photography
[Corrected 9/28/09: Chase Jarvis is based in Seattle, not San Francisco. I regret the error and apologize to our Seattle readers!] Seattle-based commercial photographer Chase Jarvis is known for his arresting, color-saturated images of people in motion—skiing, swimming, somersaulting. He’s also known for (literally) trademarking the phrase “the best camera is the one you have … Continue reading “Ansel Adams Meets Apple: The Camera Phone Craze in Photography”
HP’s New High-End Printer Bypasses the PC, Connects Directly to the Web
After two years of project development, Hewlett-Packard is preparing for the official sales launch of a new inkjet printer that the technology giant bills as the world’s first “Web-connected home printer,” a peripheral that cuts the cord to the PC by connecting directly to the Internet. The Palo Alto, CA-based company says the device, which … Continue reading “HP’s New High-End Printer Bypasses the PC, Connects Directly to the Web”
Lee Hood’s New Idea, Calypso Scores $50M, Novo’s Historic Mistake Pays Off for Seattle, & More Seattle-Area Life Sciences News
This week featured the best run of positive news for Seattle biotech I’ve seen this year. —Seattle-based Calypso Medical Technologies raised the biggest venture capital round of the year in the Northwest, pulling in $50 million. Calypso, which sells a device that pinpoints radiation therapy for prostate cancer so it doesn’t go off track and … Continue reading “Lee Hood’s New Idea, Calypso Scores $50M, Novo’s Historic Mistake Pays Off for Seattle, & More Seattle-Area Life Sciences News”
Ray King, Jama Software Win OEN Awards
The Oregon Entrepreneurs Network (OEN) announced the winners of its 2009 Tom Holce Entrepreneurship Awards on Thursday night. Ray King, founder and CEO of Portland, OR-based AboutUs, won the award for individual achievement. The award for development-stage company of the year went to Portland-based Jama Software. Portland-based Monsoon and Medford, OR-based Motorcycle Superstore won in … Continue reading “Ray King, Jama Software Win OEN Awards”
A123Systems’ IPO Gives Shareholders a Big Jolt
[Corrected 9:05 a.m. 9/25/09, see below] In a performance reminiscent of the frothy days of the dot-com boom, stock in Watertown, MA-based lithium ion battery maker A123Systems (NASDAQ: [[ticker:AONE]]) soared more than 50 percent in its first day of trading yesterday. It’s been years since a New England technology firm burst out of the IPO … Continue reading “A123Systems’ IPO Gives Shareholders a Big Jolt”
TetraPhase Pharmaceuticals Secures $10,000,000 New Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=28ac148d-6a25-4c56-804e-b43714c22e5c&Preview=1 Date 9/25/2009 Company Name TetraPhase Pharmaceuticals Mailing Address 480 Arsenal Street Watertown, MA 02472 Company Description Tetraphase Pharmaceuticas is focused on the discovery and development of new tetracycline antibiotics to treat drug resistant bacterial infections. The company’s approach capitalizes on ground-breaking technology, licensed from Harvard University (Dr. Andrew Myers, Professor of … Continue reading “TetraPhase Pharmaceuticals Secures $10,000,000 New Financing”
LS9 Obtains $25,000,000 Series C Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=7bb1f701-3ad6-4717-8dcd-0bca5520dc1b&Preview=1 Date 9/25/2009 Company Name LS9 Mailing Address 600 Gateway Blvd South San Francisco, CA 94080 Company Description The company develops solutions for industrial biotechnology and energy applications. Website http://www.ls9.com Transaction Type Venture Equity Transaction Amount $25,000,000 Transaction Round Series C Proceeds Purposes This funding will accelerate our ability to demonstrate commercial … Continue reading “LS9 Obtains $25,000,000 Series C Financing”
Fluther Garners $600,000 New Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=17dafff6-345b-4d33-935f-5969e3531fa1&Preview=1 Date 9/25/2009 Company Name Fluther Mailing Address 2431 Mission Street San Francisco, CA 94101 Company Description Fluther, an online, user-generated questions and answers site. Website http://www.fluther.com Transaction Type Venture Equity Transaction Amount $600,000 Transaction Round Undisclosed Proceeds Purposes Proceeds purposes were not disclosed. M&A Terms Venture Investor Undisclosed
Microsoft Rolls Out Web Developer Program
Microsoft has announced a new program for Web developers and small companies (with fewer than 10 employees) that build websites and Web applications for others. The program, called WebsiteSpark, follows in the footsteps of BizSpark for startups and DreamSpark for students. It offers free development software and support for three years, after which participants have … Continue reading “Microsoft Rolls Out Web Developer Program”
Shareaholic Collects Angel Funding Round
Shareaholic founder Jay Meattle was in touch today to say that his Cambridge startup has raised its first round of angel funding. Back in July, I reviewed Shareaholic’s popular browser plugin, which makes it easy to save or share material found on the Web via common social networking, social bookmarking, and news aggregator services. Meattle … Continue reading “Shareaholic Collects Angel Funding Round”
Top 10 Takeaways from WTIA’s Healthcare-IT Event: Follow the Money, Startup Opps, & More
The role of information technology in healthcare reform is such a huge, sprawling topic that it’s hard to make any real progress in just an hour or two of discussions. Yet that’s just what transpired at a stellar event last night called “Healthcare-IT—Innovations That Will Transform Healthcare Now and in the Future.” It all took … Continue reading “Top 10 Takeaways from WTIA’s Healthcare-IT Event: Follow the Money, Startup Opps, & More”
SAIC Officially Relocates HQ to McLean VA
SAIC’s plans to move its corporate headquarters from San Diego, where the company was founded in 1969, to McLean, VA, may rank as one of the defense contractor’s worst-kept secrets. Today the company also known as Science Applications International Corp. made it official. In a statement issued by the company, new CEO Walt Havenstein says, … Continue reading “SAIC Officially Relocates HQ to McLean VA”
Investors Inject $51M B Round into Zogenix to Combat Migraines
San Diego-based Zogenix has closed a $51 million equity financing to fund the planned January 2010 launch of its needle-free system for delivering a drug for serious headaches, according to the company. The commercialization dollars from the Series B round of preferred stock will fill a funding void the firm faced when it cancelled its … Continue reading “Investors Inject $51M B Round into Zogenix to Combat Migraines”
Dendreon to Turn in Provenge Application to FDA in Mid-November
Dendreon has been saying for months that it plans to file its amended application to the FDA in the fourth quarter, and today it got a little more specific, saying it expects to complete that job by mid-November. That means it should be on target to start selling sipuleucel-T (Provenge) to U.S. prostate cancer patients … Continue reading “Dendreon to Turn in Provenge Application to FDA in Mid-November”
A123Systems IPO Massively Exceeds Estimates
[Updated 4:15 p.m. 9/24/09 with A123System’ closing stock price for the day, see below] A123Systems, the Watertown, MA-based developer of advanced lithium-ion batteries for cars and power tools, said this morning that it has priced its initial public offering of 27.5 million shares of common stock at $13.50 per share—way above the $8 to $9.50 … Continue reading “A123Systems IPO Massively Exceeds Estimates”
Sirtris’ Westphal and Collaborators Launching New Nonprofit to Help People Live Longer
Christoph Westphal, the CEO of biotech firm Sirtris, says that he and several of his colleagues are forming a new nonprofit group in the Boston area called the Healthy Lifespan Institute. The institute is being formed to research non-pharmaceutical measures that people can take to live longer and healthier lives and to educate people about … Continue reading “Sirtris’ Westphal and Collaborators Launching New Nonprofit to Help People Live Longer”
Peter Brooke and Terry McGuire Team Up for Unprecedented Discussion of Venture Capital and Private Equity—Sign Up Fast for the Next Xconomy Forum
As the world digs out from under the effects of one of the greatest economic crises in history, there are few people who can survey the financial landscape and provide experience, perspective, and wisdom the way Peter Brooke can. The chairman and founder of Advent International and before that the founder of TA Associates, Brooke … Continue reading “Peter Brooke and Terry McGuire Team Up for Unprecedented Discussion of Venture Capital and Private Equity—Sign Up Fast for the Next Xconomy Forum”
Swine Flu Could Benefit Some Biomedical Companies, Local Biotechs Are Looking Healthier, Arena Happy With Obesity Drug Results, & More San Diego Life Sciences News
As the flu season nears, it’s still unclear how severe the H1N1 strain of swine flu will be. But several San Diego companies are nevertheless riding a wave of investor enthusiasm for the public companies that could benefit. Get that and other biotech news here. —The financial health of San Diego’s public life sciences companies … Continue reading “Swine Flu Could Benefit Some Biomedical Companies, Local Biotechs Are Looking Healthier, Arena Happy With Obesity Drug Results, & More San Diego Life Sciences News”
Biotech Pioneer Steve Gillis on Life as a VC, How Today’s Entrepreneurs Can Make It, and Seattle’s Future in Life Sciences (Part 2)
Yesterday, we ran the first installment of an extended interview with Steve Gillis, the biotechnology pioneer who’s now a managing director at Arch Venture Partners. Today, we have the second half of the conversation, in which Gillis talks more about ways biotech entrepreneurs can adjust to the tough fundraising climate, and Seattle’s realistic assets as … Continue reading “Biotech Pioneer Steve Gillis on Life as a VC, How Today’s Entrepreneurs Can Make It, and Seattle’s Future in Life Sciences (Part 2)”
Life Tech and Illumina, Two San Diego Biotech Giants, in Patent Dispute
In what is shaping up as the battle of San Diego’s biotechnology tools titans, Life Technologies (NASDAQ: [[ticker:LIFE]]) has filed a patent-infringement suit against rival Illumina, claiming that some of Illumina’s best-selling genetic-sequencing products violate Life Tech’s intellectual property. The suit, filed in U.S. District Court in Delaware, claims that certain Illumina products, including the … Continue reading “Life Tech and Illumina, Two San Diego Biotech Giants, in Patent Dispute”
Five Big Questions For Dendreon’s Analyst Day
Dendreon shocked the cancer research world back in April, proving for the first time in a major clinical trial that a drug which actively stimulates the immune system can be effective against tumors. Now the Seattle-based company has to wrestle with a whole new set of challenges to make sure it fully exploits the potential … Continue reading “Five Big Questions For Dendreon’s Analyst Day”
Ze-gen Ramps Up its Waste Gasification Process: Lessons from a Clean-Energy Startup
Xconomy has been around for 27 months now, long enough to watch quite a few of our fellow Boston-area startups expand, deal with serious challenges, and start to get their technologies out into the world. One of them is Ze-gen, a waste gasification company that I first visited in August 2007. This week I got … Continue reading “Ze-gen Ramps Up its Waste Gasification Process: Lessons from a Clean-Energy Startup”
Shareaholic Lands Series A Funding
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=d32e9641-9bdd-430e-af25-d286b16664da&Preview=1 Date 9/24/2009 Company Name Shareaholic Mailing Address Undisclosed Cambridge, MA 02139 Company Description Shareaholic makes it easy to save or share material found on the Web via common social networking, social bookmarking, and news aggregator services. Website http://www.shareaholic.com Transaction Type Venture Equity Transaction Amount Undisclosed Transaction Round Series A Proceeds Purposes … Continue reading “Shareaholic Lands Series A Funding”
Pandora Obtains $10,000,000 New Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=ffcb635d-850b-4f11-b991-a3bbb38c7da4&Preview=1 Date 9/24/2009 Company Name Pandora Mailing Address 360 22nd Street Oakland, CA 94612 Company Description With Pandora you can explore this vast trove of music to your heart’s content. Just drop the name of one of your favorite songs or artists into Pandora and let the Genome Project go. Website http://www.pandora.com … Continue reading “Pandora Obtains $10,000,000 New Financing”
Twitter Secures $100,000,000 New Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=b0708dd3-08db-4ffd-879a-e82220add7f5&Preview=1 Date 9/24/2009 Company Name Twitter Mailing Address 795 Folsom St. San Francisco, CA 94107 Company Description Twitter provides an instant-broadcast, SMS type Internet service. Website http://www.twitter.com Transaction Type Venture Equity Transaction Amount $100,000,000 Transaction Round Undisclosed Proceeds Purposes Proceeds purposes were not disclosed. M&A Terms Venture Investor Insight Venture Partners Venture … Continue reading “Twitter Secures $100,000,000 New Financing”
Maveron, Spark Lead $8M Round for Altius
Seattle-based Maveron and Boston-based Spark Capital have co-led an $8 million Series A investment in Altius Education, based in San Francisco, according to a press release today. The Noah Fund also participated in the deal. Maveron was founded by Dan Levitan and Howard Schultz in 1998, and focuses on consumer and tech companies. Altius was … Continue reading “Maveron, Spark Lead $8M Round for Altius”
Ray Kurzweil on the Democratization of Innovation
The MIT Enterprise Forum Innovation Series presents a keynote speech by technology innovator Ray Kurzweil, followed by a conversation led by Sim Simeonov of FastIgnite. Full information here; registration here. From the event description: “Impervious to the roller-coaster ride of the financial markets, the past decade has brought about an unprecedented acceleration in technology development … Continue reading “Ray Kurzweil on the Democratization of Innovation”
Ignition Partners Talk Cloud Computing and Virtualization—A Crucial Part of the VC Firm’s Strategy
Now that the media craze around cloud computing seems to have died down just a bit, I thought it would be a good time to take a considered look at what one of the Northwest’s most prominent venture capital firms is working on in this space, which is having increasing influence in every area of … Continue reading “Ignition Partners Talk Cloud Computing and Virtualization—A Crucial Part of the VC Firm’s Strategy”