Inovio Biomedical (AMEX: [[ticker:INO]]), a San Diego company developing DNA-based vaccines against cervical cancer and other diseases, has raised $30 million from the direct sale of 11.1 million shares and 2.8 million warrants to institutional investors. Proceeds to the company will total $28.5 million after fees and other expenses.
La Jolla Pharmaceutical Plans Liquidation
San Diego’s La Jolla Pharmaceuticals (NASDAQ:[[ticker:LJPC]]) plans to ask shareholders to approve a liquidation plan at a not-yet-scheduled special shareholders meeting, according to a recent SEC filing. The company says it has discharged substantially all of its obligations to creditors and is working to satisfy those that remain. Separately last week, the company disclosed that … Continue reading “La Jolla Pharmaceutical Plans Liquidation”
Smith & Tinker Rolls Out Nanovor
Smith & Tinker, a Bellevue, WA-based game company launched a new, hybrid game combining online and offline play today, according to a press release by the company. Called Nanovor, the game has an online aspect where players can collect, modify, and train small Pokemon-esque monsters called nanovors. Later this year, the company will start selling handheld … Continue reading “Smith & Tinker Rolls Out Nanovor”
You Talkin’ To Me? Seattle Tech Scene Takes on All Comers
Beneath the friendly, laid-back veneer, the Seattle tech community is a rough-and-tumble lot ready to throw down at a moment’s notice. That’s what you might surmise after the past week, anyway. And this is not necessarily a bad thing. (Though the heat wave might have had something to do with it.) Here’s a quick update … Continue reading “You Talkin’ To Me? Seattle Tech Scene Takes on All Comers”
Zymo Gets $6M in Q2 Recothrom Sales
ZymoGenetics, the Seattle-based biotech company, said today that it generated $6 million in second-quarter sales of recombinant thrombin (Recothrom). That performance is an improvement on the $4.5 million the company reported in the first quarter, and puts ZymoGenetics (NASDAQ: [[ticker:ZGEN]]) on pace to reach its 2009 sales forecast of $25 million to $35 million. The … Continue reading “Zymo Gets $6M in Q2 Recothrom Sales”
Concur Buys Etap-On-Line
Redmond, WA-based Concur, a business software development company, announced in a press release today that it has acquired European business software maker Etap-On-Line. Financial details were not released. Concur’s software processes company expenses, including travel and expense accounts.
Cardiorobotics Raises $11.6M
Cardiorobotics, a medical device startup company with offices in Newport, RI and Pittsburgh, PA, said today it has raised $11.6 million in a Series A financing. Investors in the company include Eagle Ventures, the Slater Technology Fund, and the Pittsburgh Life Sciences Greenhouse. Cardiorobotics is developing what it calls snake robot technology, a minimally invasive … Continue reading “Cardiorobotics Raises $11.6M”
Shire’s Gaucher Drug Passes Key Trial, Putting More Heat on Genzyme During Shortage
Shire, the U.K.-based specialty pharmaceutical company, had some good news this morning for patients with Gaucher’s disease that might not be nearly as good for its competitor, Cambridge, MA-based Genzyme (NASDAQ: [[ticker:GENZ]]). Shire said today that its experimental treatment for Gaucher’s, a rare genetic disorder, passed a key clinical trial in 25 patients. This is … Continue reading “Shire’s Gaucher Drug Passes Key Trial, Putting More Heat on Genzyme During Shortage”
Oncothyreon Shows Long-Lasting Effect
Oncothyreon (NASDAQ: [[ticker:ONTY]]), the Seattle-based developer of cancer treatments, said today its Stimuvax therapy showed a long-lasting response and was well-tolerated in a long-term follow-up study. Ten of the 16 patients with non-small cell lung cancer, who were followed two to 8.2 years, were still alive as of April with no evidence of their disease … Continue reading “Oncothyreon Shows Long-Lasting Effect”
Top 10 Lessons in Starting Companies and Commercializing Technologies, from UW Panel
A group of about 40 Taiwanese businessmen and scientists, who were in the U.S. to learn about how best to commercialize technologies from the lab, were treated last Thursday to a University of Washington panel of three veterans of the process, who shared their experiences and the lessons they’ve learned. The panel consisted of serial … Continue reading “Top 10 Lessons in Starting Companies and Commercializing Technologies, from UW Panel”
BrainCells Inc., Defying Convention, Suggests Novel Drug Combination Can Treat Depression
Drugs for treating depression have been around for years now, mostly working in similar ways by blocking certain receptors in the brain. So when San Diego-based BrainCells Inc. proposed a clinical trial with a new way of combining a generic anti-anxiety drug with a common dietary supplement that affects people’s sleeping rhythms, this didn’t exactly … Continue reading “BrainCells Inc., Defying Convention, Suggests Novel Drug Combination Can Treat Depression”
The Inside Story of SAIC and Network Solutions (a Tale in Two Parts), Rayspan Raises Capital, & Other San Diego BizTech News
It was a light week for technology stories in San Diego last week, as I took time away from Xconomy for a family road trip through the Pacific Northwest. The traffic along Interstate 5 was mild, however, in comparison to the record Internet traffic on Xconomy’s San Diego website for our two-part story about SAIC, Network … Continue reading “The Inside Story of SAIC and Network Solutions (a Tale in Two Parts), Rayspan Raises Capital, & Other San Diego BizTech News”
Buddhists May Help Biotechies Solve Big Mental Health Woes, Says Merck Vet Ben Shapiro
One of the big opportunities in biotech over the coming decades may come from neuroscientists who team up with Buddhists. That might sound odd at first, but it’s no joke. This is one of the big ideas on the radar of Bennett Shapiro, the former executive vice president of worldwide basic research at Merck, who … Continue reading “Buddhists May Help Biotechies Solve Big Mental Health Woes, Says Merck Vet Ben Shapiro”
OurStage Act Gaining Partnership Audience Amid Economic Downturn
Chelmsford, MA-based OurStage, which runs monthly contests where bands upload their music and videos to its website to compete for cash and other prizes, is among a number of Web startups in the Boston area that cater to music fans and bands. But the company has also managed to attract a paying corporate audience—providing a … Continue reading “OurStage Act Gaining Partnership Audience Amid Economic Downturn”
iSyndica Receives $350,000 Series A Funding
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=7fa83d32-3b4e-4782-bc14-5b66b4c8905c&Preview=1 Date 8/3/2009 Company Name iSyndica Mailing Address 20A Northwest Blvd Nashua, NH 03063 Company Description iSyndica, a cloud-based digital media distribution platform, simplifies online selling by syndicating, promoting and tracking user content on multiple established channels. iSyndica’s Upload Once – Sell Everywhere(TM) approach helps users increase their revenue while reducing their … Continue reading “iSyndica Receives $350,000 Series A Funding”
KODA Corporation Secures $3,000,000 New Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=40acabd5-e4a9-4694-a427-cf03f904d720&Preview=1 Date 8/3/2009 Company Name KODA Corporation Mailing Address 220 Montgomery Street San Francisco, CA 94104 Company Description KODA.us an online site focused on using social networking for job recruiting. The initial release included a platform that allows emerging talent and smart companies to go beyond the resume or traditional job posting. … Continue reading “KODA Corporation Secures $3,000,000 New Round”
Thomson Reuters Acquires VhaYu Technologies for Undisclosed Sum
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=9e45cbf9-bb1c-486d-b055-c22fbdcf4068&Preview=1 Date 8/3/2009 Company Name VhaYu Technologies Mailing Address 100 Cooper Court Los Gatos, CA 95032 Company Description Vhayu’s sole focus is providing solutions for the institutional financial marketplace which demands speed, reliability and scalability. Website http://www.vhayu.com Transaction Type M&A Transaction Amount Undisclosed Transaction Round Proceeds Purposes M&A Terms Financial terms of … Continue reading “Thomson Reuters Acquires VhaYu Technologies for Undisclosed Sum”
Webtrends Buys Widemile
Portland, OR-based Webtrends, a web analytics software developer, announced in a press release today that it has acquired Seattle-based multivariate testing and site optimization technology maker Widemile. Financial details of the deal were not released. Webtrends said that the deal is part of its plan to lead in enterprise customer intelligence by augmenting its analytics … Continue reading “Webtrends Buys Widemile”
Delve Partners With Akamai
Seattle-based video management and media platform company Delve Networks announced in a press release today that it is partnering with Cambridge, MA-based digital media content distributor Akamai to provide a new online video platform. Akamai, which also has an ofice in Bellevue, WA, will combine its media delivery service with Delve’s video platform, so customers … Continue reading “Delve Partners With Akamai”
Indigo Soul, Lions Ambition Take Top Prizes in Seattle Tech Band Battle; Thanks to WTIA and All Our Sponsors
The rock and roll moment of the night came when James Dixon broke a bass string during the first song from his hard-driving metal band Juda’s Wake. Let me tell you, it’s not that easy to break a bass string unless you really shred it. It’s also not easy to describe Juda’s Wake beyond killer … Continue reading “Indigo Soul, Lions Ambition Take Top Prizes in Seattle Tech Band Battle; Thanks to WTIA and All Our Sponsors”
FDA to Re-inspect Genzyme Plant
Cambridge, MA-based Genzyme (NASDAQ: [[ticker:GENZ]]) announced today that the FDA will re-inspect the biotech giant’s Allston manufacturing facility, which was closed in June after a viral contaminant was spotted. Genzyme said it had finished sanitizing the plant, which produces two of its best-selling drugs, last week. In today’s press release, the company says the FDA … Continue reading “FDA to Re-inspect Genzyme Plant”
Apperian Raises $1 Million
Boston-based Apperian, founded by Apple veterans as a development shop for enterprise-oriented iPhone applications, has closed a $1 million Series A venture round led by CommonAngels of Lexington, MA, according to an announcement circulated today. “We have been incredibly impressed by the team as well as their customers’ vision and passion for the possibilities on … Continue reading “Apperian Raises $1 Million”
RXi Announces $8.3M Offering
Worcester, MA-based RXi Pharmaceuticals (NASDAQ: [[ticker:RXII]]) said today it is raising $8.3 million in working capital through a stock offering that’s expected to close on August 4. The company, which is developing drugs based on RNA interference for the treatment of conditions such as rheumatoid arthritis, is selling about 2.4 million shares of common stock … Continue reading “RXi Announces $8.3M Offering”
Netezza Pursues Broader Customer Base with Cheaper Data Storage Technology
The reality in the IT world, as one executive at Marlborough, MA-based Netezza (NYSE: [[ticker:NZ]]) puts it, is that “the cost of adding more data to disks is getting closer to zero every day.” That’s not great news if your traditional business is selling high-performing servers at $60,000 per terabyte. So to keep growing, Netezza … Continue reading “Netezza Pursues Broader Customer Base with Cheaper Data Storage Technology”
Seattle’s Lifestyle Keeps Us Trailing the Bay Area, Says UW Startup Maven Janis Machala
Ed Lazowska, the University of Washington computer science professor, stirred the pot a couple months ago when he said Seattle is a “minor league” innovation town, far behind the big league of the San Francisco Bay Area, so people in the Northwest should quit being smug and start doing something to change that. This week, … Continue reading “Seattle’s Lifestyle Keeps Us Trailing the Bay Area, Says UW Startup Maven Janis Machala”
Shareaholic Becomes the Link-Sharing Tool of Choice—And Builds a Vast Database on Social Media Behavior
Blogging is about active sharing. I’ve known this on an intellectual level for years, but working for Xconomy has made the idea very real to me. My stories reach far more readers if I take a few extra minutes every day to share the items with my e-mail contacts and Twitter followers, and to submit … Continue reading “Shareaholic Becomes the Link-Sharing Tool of Choice—And Builds a Vast Database on Social Media Behavior”
Vertex Scores $105M For Asian Telaprevir Rights, Avila Avails Itself of $30M, IBM Picks Up Ounce Labs, & More Boston-Area Deals News
Is it just me, or is the roundup of New England technology and life sciences deals news getting a little longer each week? —Matrix Partners of Waltham, MA, reportedly raised $600 million for two new funds. A $450 million main fund is to be invested in software, mobile, consumer Internet, communications, and systems startups, and … Continue reading “Vertex Scores $105M For Asian Telaprevir Rights, Avila Avails Itself of $30M, IBM Picks Up Ounce Labs, & More Boston-Area Deals News”
Apperian Receives $1,000,000 Series A Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=b6bd0b7b-ba7d-468f-ab26-b9685ca89214&Preview=1 Date 7/31/2009 Company Name Apperian Mailing Address Undisclosed Boston, MA 02102 Company Description Apperian currently makes enterprise-class iPhone applications for large companies seeking to engage consumers in new, innovative ways and enhance productivity among their employees and partners. Website http://www.apperian.com/ Transaction Type Venture Equity Transaction Amount $1,000,000 Transaction Round Series A … Continue reading “Apperian Receives $1,000,000 Series A Financing”
iLoop Mobile Secures $2,000,000 New Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=6bd9adf9-c848-48e0-b36c-1816a49bc0c1&Preview=1 Date 7/31/2009 Company Name iLoop Mobile Mailing Address 25 Metro Drive San Jose, CA 95110 Company Description Loop Mobile is the leader in mobile services and technology for interactive mobile marketing, mobile advertising and mobile content distribution. The company’s patent-pending mFinity™ platform makes it fast and easy for brands, marketing agencies, … Continue reading “iLoop Mobile Secures $2,000,000 New Financing”
DNAnexus Lands $1,550,000 Series A Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=8f4f48d0-5feb-435b-82c3-1ae01b77815d&Preview=1 Date 7/31/2009 Company Name DNAnexus Mailing Address 542 Addison Ave Palo Alto, CA 94301 Company Description DNAnexus is a start-up in biocomputation aiming to transform the future of genetics, alter the course of medicine, help cure cancer! The advent of next-generation DNA sequencing technologies will soon enable one of the holy … Continue reading “DNAnexus Lands $1,550,000 Series A Financing”
See You Tonight at Battle of the Tech Bands
We’re all still running around covering the fine art of innovation this afternoon, but soon we’ll be heading over to the Pyramid Alehouse next to Safeco Field (see map here), where the stage is being put together for tonight’s big event, as we speak. Xconomy and the Washington Technology Industry Association (WTIA) are partners on … Continue reading “See You Tonight at Battle of the Tech Bands”
Ligand Pharma and Organon to End Collaboration
San Diego-based Ligand Pharmaceuticals (NASDAQ:[[ticker:LGND]]) said today that the firm and Dutch drug company NV Organon have opted to end their collaboration and license agreement related to drug research in multiple fields. Organon is ending research funding for the collaboration on Dec. 31, 2009. The agreement was originally struck in early 2007 between Organon—which later … Continue reading “Ligand Pharma and Organon to End Collaboration”
Amnis Nails Down Capital to Meet Rising Demand for Scientific Instruments
Seattle-based Amnis, the maker of a scientific instrument that provides detailed images on large numbers of cells, has raised the first $839,000 out of a venture round that’s expected to top out at $1.5 million within a couple of weeks, according to CEO David Basiji. Amnis secured the first batch of funds from its existing … Continue reading “Amnis Nails Down Capital to Meet Rising Demand for Scientific Instruments”
Anadys Cleared to Start HepC Trial
San Diego-based Anadys Pharmaceuticals (NASDAQ: [[ticker:ANDS]]) said today it has gotten the green light from the FDA to start a mid-stage clinical trial of its experimental hepatitis C drug, ANA598, in combination with the standard treatments, pegylated inferferon alpha and ribavirin. About 90 patients are expected to enroll, with the first joining the study within … Continue reading “Anadys Cleared to Start HepC Trial”
WBBA/Life Sciences Discovery Fund Open House
The Washington Biotechnology & Biomedical Association, along with its office neighbors at the Life Sciences Discovery Fund, are hosting an open house at their Seattle offices from 4 pm to 7 pm on Aug. 6. The event will include staff of both organizations, as well as members of the WBBA board, and trustees of the … Continue reading “WBBA/Life Sciences Discovery Fund Open House”
MBTA Data Helps Google Users Get Around Boston
At a press conference in the bustling lobby of Boston’s South Station this morning, Google and the Massachusetts Bay Transportation Authority (known to locals as the “T”) announced that they’ve collaborated to make route and schedule information for all T trains and buses available inside Google Maps. It’s all information that’s already online at the … Continue reading “MBTA Data Helps Google Users Get Around Boston”
Entrepreneurs: “Follow the Yellow Brick Road”
StartupCircle presents a pair of talks by entrepreneurs Karim Pirani and Moshe Barken. From the event listing: “Growth entrepreneur Karim Pirani is founder and President of SafeList Ventures, Inc. Safelist is built upon the belief that we are continuing to evolve the worldwide web and as the Net proliferates, the concern for personal and physical … Continue reading “Entrepreneurs: “Follow the Yellow Brick Road””
Mentor Graphics Acquires Embedded Alley
Mentor Graphics, a Wilsonville, OR-based electronic design automation developer, announced today it has purchased Embedded Alley Solutions, based in San Jose, CA. Financial details were not released. Embedded Alley creates programs to develop software for mobile devices and has made systems for Linux and the Google Android. Mentor (NASDAQ: [[ticker:MENT]]) said it plans to augment … Continue reading “Mentor Graphics Acquires Embedded Alley”
Vertex Grabs $105M in Amended Telaprevir Deal with Mitsubishi
Vertex Pharmaceuticals (NASDAQ:[[ticker:VRTX]]) is making its second move this month to raise non-dilutive cash from its previous agreements to commercialize its experimental hepatitis C drug telaprevir. The Cambridge, MA-based firm said this morning that it will receive an upfront sum of $105 million from Mitsubishi Tanabe Pharma in an amended deal between the two companies … Continue reading “Vertex Grabs $105M in Amended Telaprevir Deal with Mitsubishi”
Cray’s Comeback: CEO Peter Ungaro on Clouds, Exaflops, and the Future of Supercomputing
Where I grew up in the Midwest in the 1970s and early 80s, Cray was synonymous with supercomputing. Back then, a supercomputer was a top-flight machine that could perform a few hundred million floating point operations per second (“flops”). That was good enough to help scientists do intensive calculations in areas like weather forecasting, climate … Continue reading “Cray’s Comeback: CEO Peter Ungaro on Clouds, Exaflops, and the Future of Supercomputing”
AVI Biopharma Bolts from Portland to Seattle to Tap Biotech Talent
AVI Biopharma, the developer of RNA-based drugs, is moving its headquarters and part of its scientific operations north a couple hundred miles from Portland, OR, to Bothell, WA, in an effort to mine the Seattle area’s bigger biotech talent pool. The company, which has about 85 total employees, plans to keep its biodefense research and … Continue reading “AVI Biopharma Bolts from Portland to Seattle to Tap Biotech Talent”
MSM Protein Technologies Scores Antibody-Drug Discovery Partnerships
MSM Protein Technologies, a spinoff of Dana-Farber Cancer Institute, is announcing today it has secured partnerships with Germany-based Merck KGaA, and Switzerland-based Debiopharm Group, a drug development firm. The team at Medford, MA-based MSM will work to create antibody drugs that zero in on complex targets on cells known as G-protein coupled receptors and other … Continue reading “MSM Protein Technologies Scores Antibody-Drug Discovery Partnerships”
The Untold Story of SAIC, Network Solutions, and the Rise of the Web—Part 2
The beginning of the Internet gold rush is often dated with some precision—the date of Netscape Communications’ IPO, on Aug. 9, 1995—even though a broad array of Internet-related technologies had been under development for years before that. A case in point is Network Solutions Inc., a small Herndon, VA, computer networking company that was acquired … Continue reading “The Untold Story of SAIC, Network Solutions, and the Rise of the Web—Part 2”
$50M for Helicon, Cytori Bulks Up, Avanir Awaits Trial Results, & More San Diego Life Sciences News
Several of San Diego’s biotech and life sciences companies raised money this past week, while others await the result of studies to see if the money they’ve already invested will pay off. —Cytori Therapeutics (NASDAQ: [[ticker:CYTX]]), which is developing a device that can isolate and process regenerative cells from a patient’s fat tissue, has been … Continue reading “$50M for Helicon, Cytori Bulks Up, Avanir Awaits Trial Results, & More San Diego Life Sciences News”
Dendreon’s Former Boss Predicts Takeover, Covance Buys Merck Lab, How NanoString Got $30M, & More Seattle-Area Life Sciences News
This was another busy week on the Seattle biotech scene, with some takeover speculation surrounding the latest success story (Dendreon), a big pharmaceutical industry player moving to town (Covance), and a behind-the-scenes tale of how NanoString Technologies scored one of the bigger venture investments of the year. —Christopher Henney, the former CEO of Dendreon (NASDAQ: … Continue reading “Dendreon’s Former Boss Predicts Takeover, Covance Buys Merck Lab, How NanoString Got $30M, & More Seattle-Area Life Sciences News”
Making Carbon Credits Count: World Energy Upgrades Green Exchange Marketplace
If you worry about contributing to global warming–and who doesn’t?—there’s more than one way to go green. You can take actions to reduce your carbon footprint,which, for a big company, might mean doing things like building a LEED-certified office building or buying hybrid vehicles for your corporate fleet. Or you can buy carbon offsets, also … Continue reading “Making Carbon Credits Count: World Energy Upgrades Green Exchange Marketplace”
NeoTract Obtains $23,700,000 Series B Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=28e41e53-d633-48c0-8590-dc04207dd2bd&Preview=1 Date 7/30/2009 Company Name NeoTract Mailing Address 4473 Willow Rd Mountain View, CA 94040 Company Description The company develops and manufactures medical devices that treat urological and gynecological disorders. Website Undisclosed Transaction Type Venture Equity Transaction Amount $23,700,000 Transaction Round Series B Proceeds Purposes Proceeds purposes were not disclosed. M&A Terms … Continue reading “NeoTract Obtains $23,700,000 Series B Round”
Covance CEO Says It Will Be “A Shame” If He Can’t Double or Triple Rosetta Lab Growth
The world’s largest company that provides contract research services to drugmakers is coming to Seattle, and its CEO has some ambitious plans to grow here (and maybe do a few Cascade hikes while he’s out here too). That was the upshot from my follow-up conversation with Covance CEO Joe Herring, shortly after the Princeton, NJ-based … Continue reading “Covance CEO Says It Will Be “A Shame” If He Can’t Double or Triple Rosetta Lab Growth”
Genzyme Hit with Shareholder Suit, Herald Reports
The Boston Herald reports that an investor in Genzyme (NASDAQ:[[ticker:GENZ]]) has filed a securities lawsuit against the Cambridge, MA-based biotech powerhouse. The daily tabloid writes that the suit, filed by Florida resident Jon Rahn, claims that Genzyme took “too long” to disclose issues that federal regulators found last fall at its drug-production facilities in Boston … Continue reading “Genzyme Hit with Shareholder Suit, Herald Reports”
Covance Buys Key Piece of Merck’s Rosetta Operation in Seattle
Covance, the giant drug development services company based in Princeton, NJ, said today it has agreed to acquire a Seattle laboratory run by Merck’s Rosetta operation that performs genomic analysis tests for biologists around the world. Merck has been gradually winding down its Rosetta operations in Seattle since last October, when it said it would … Continue reading “Covance Buys Key Piece of Merck’s Rosetta Operation in Seattle”