Revised Noncompete Legislation Doesn’t Go Far Enough

[Editor’s Note: Bijan Sabet of Spark Capital has kindly allowed us to cross-post this entry from his blog reacting to news today of a draft bill proposing compromise language on noncompete agreements in Massachusetts.] My partners and I have been pushing to end the use of employee non-compete agreements for some time now. We passionately … Continue reading “Revised Noncompete Legislation Doesn’t Go Far Enough”

OncoGenex Raises $9.5M

OncoGenex Pharmaceuticals, the Bothell, WA-based developer of cancer drugs, said today it has reached agreements to raise $9.5 million from institutional investors through a registered stock offering. The company has agreed to sell 475,000 new shares at $20 apiece. OncoGenex (NASDAQ: [[ticker:OGXI]]) has been a hot commodity with investors since it presented data from a … Continue reading “OncoGenex Raises $9.5M”

Social Media Boosts Sales, Report Says

Using social media to interact with customers pays off, according to the ENGAGEMENTdb report released today by Seattle-based Wetpaint and the Altimeter group, a San Francisco-based digital marketing consultant. Starbucks, Dell and eBay led the way in consumer interactions across 10 different social media outlets such as Facebook and Twitter, according to the report. On … Continue reading “Social Media Boosts Sales, Report Says”

Microsoft Office Mac Version Updated

Microsoft’s Macintosh division announced a new service pack for the Mac version of Microsoft Office.  The update is designed to fix several old issues with the program as well as add new features like document sharing online. Although Microsoft and Apple are fierce rivals with contending operating systems, Microsoft produces Mac versions of many programs … Continue reading “Microsoft Office Mac Version Updated”

Google Axes Seattle Employees, Report Says

Google is based based in Mountain View, CA, but has two research and development groups in the Seattle area, one in Kirkland, WA and one in Seattle’s Fremont neighborhood. But according to a report by Steve Spiegel in the Examiner yesterday, Google is getting smaller in the Northwest. The search engine giant is laying off … Continue reading “Google Axes Seattle Employees, Report Says”

Compromise Bill Would Allow, But Scale Back, Noncompete Agreements in Massachusetts

A new draft bill that would limit but not outlaw noncompete agreements in employment contracts in Massachusetts is being floated by two members of the state’s House of Representatives. The bill combines elements of separate bills introduced earlier this year by Representatives William Brownsberger of the 24th Middlesex district and Lori Ehrlich of the 8th … Continue reading “Compromise Bill Would Allow, But Scale Back, Noncompete Agreements in Massachusetts”

$8M Second Round for Acquia

Andover, MA-based Acquia, which sells a commercial version of the open-source Drupal content management system, has raised $8 million in new working capital, according to a regulatory filing published Friday. A spokesperson told Mass High Tech that investors North Bridge Venture Partners and Sigma Partners, who also participated in Acquia’s $7 million first funding round … Continue reading “$8M Second Round for Acquia”

HP Acquires Ibrix

Hewlett-Packard of Palo Alto, CA, will acquire Billerica, MA-based Ibrix, HP said in an announcement today. The nine-year-old company, with 53 employees, makes software used by large enterprises such as AOL, Pixar, and Blizzard Entertainment to manage network file servers holding petabytes of data. The financial terms of the deal weren’t disclosed. PE Hub reports … Continue reading “HP Acquires Ibrix”

Orexigen Obesity Drug Hits Weight Loss Goal in Studies, Company Looks Toward FDA

San Diego-based Orexigen Therapeutics dumped a boatload of information in the public domain this morning about clinical trials of its experimental obesity drug. Investors have been in a wait-and-see mode about this drug for months after arguing over the merits of one big trial, but they reacted positively to this new batch of data, sending … Continue reading “Orexigen Obesity Drug Hits Weight Loss Goal in Studies, Company Looks Toward FDA”

Synthetic Genomics Gets Big Oil Funding for Algae Biofuel, Qualcomm May Pull Plug on LifeComm, Aculon’s Nanocoating Replaces Toxic Chromium, & More San Diego BizTech News

The biggest news by far last week was ExxonMobil’s decision to invest $600 million in biofuels, with half of that going to San Diego’s Synthetic Genomics. A number of companies also launched new technology iniatives. To find out what’s happening, just keep reading. —ExxonMobil, the world’s largest oil company, said last week it plans to … Continue reading “Synthetic Genomics Gets Big Oil Funding for Algae Biofuel, Qualcomm May Pull Plug on LifeComm, Aculon’s Nanocoating Replaces Toxic Chromium, & More San Diego BizTech News”

Insights into SAIC’s Acquisition of R.W. Beck for $155M—and Beck’s Strategy in Energy, Water

It may be one of the great untold success stories of the Seattle technology scene. For the past decade, R.W. Beck, an engineering and business consulting firm, has been quietly making a name for itself in key technical areas like energy and water management. Now the Seattle-based firm with 550 employees is becoming part of … Continue reading “Insights into SAIC’s Acquisition of R.W. Beck for $155M—and Beck’s Strategy in Energy, Water”

Replacing Phil Sharp Will Be Up to Biogen’s Board

Famed scientist Phil Sharp’s retirement from the board of directors at Biogen Idec (NASDAQ:[[ticker:BIIB]]) leaves the board without what was perhaps its leading scientific voice, but his departure doesn’t leave activist investor Carl Icahn with much of an opening to seize greater control over the company. When I reported last week that Sharp had stepped … Continue reading “Replacing Phil Sharp Will Be Up to Biogen’s Board”

PressOK, Born in a Mobile Merger, Focuses on Smartphone Games

After just a couple of weeks, Ryan Morel was hooked on Bumper Stars, a free game on Facebook. He and his co-workers were but a few of the tens of thousands of people playing the game, a mixture of ping-pong, pool, and shufflepuck, every month. Morel only wished someone would make a mobile version of … Continue reading “PressOK, Born in a Mobile Merger, Focuses on Smartphone Games”

BostInnovation: Creating an Innovative Ecosystem

Boston is justly famous for the constant stream of inventions, ideas, and technologies that flow from the city and surrounding areas. Keeping track of them all seems like a Sisyphean job, but a new website, BostInnovation, is taking up the challenge. The site, launched just a couple of weeks ago, aggregates Twitter streams from individuals, … Continue reading “BostInnovation: Creating an Innovative Ecosystem”

Acquia Garners $8,000,000 Series B Financing Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=07f15bcf-1610-4357-ac84-11b7e9d9d490&Preview=1 Date 7/20/2009 Company Name Acquia Mailing Address 200 Brickstone Square Andover, MA 01810 Company Description Acquia is a new software company that will provide value-added software products and services for the Drupal web collaboration and publishing platform. Website http://www.acquia.com Transaction Type Venture Equity Transaction Amount $8,000,000 Transaction Round Series B Proceeds … Continue reading “Acquia Garners $8,000,000 Series B Financing Round”

Akiba Technologies Secures $6,530,000 Series A Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=ae232cc7-59bb-46a6-b765-ca779c3d962a&Preview=1 Date 7/20/2009 Company Name Akiba Technologies Mailing Address Undisclosed Boston, MA 02101 Company Description Akiba, Inc., a Boston-based startup, is developing a database virtualization solution that enables effortless scalability of a database across nodes, both within the enterprise and in the cloud. Based on our patent-pending Akiba Orthogonal Architecture (AOA), we … Continue reading “Akiba Technologies Secures $6,530,000 Series A Round”

OncoGenex Pharmaceuticals Lands $9,500,000 New Funding

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=ed5fe3e3-b4dc-4288-8316-fbe23941db26&Preview=1 Date 7/20/2009 Company Name OncoGenex Pharmaceuticals Mailing Address 1522 217th Place SE Bothell, WA 98021 Company Description OncoGenex Pharmaceuticals is a biopharmaceutical company committed to the development and commercialization of new cancer therapies that address unmet needs in the treatment of cancer. We have a deep oncology pipeline, with each product … Continue reading “OncoGenex Pharmaceuticals Lands $9,500,000 New Funding”

BeneChill Lands $13,500,000 Series C Funding Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=30190483-e992-4e64-bf9e-3c6be8bf8c92&Preview=1 Date 7/20/2009 Company Name BeneChill Mailing Address 10060 Carroll Canyon Rd San Diego, CA 92131 Company Description Benechill Corp. has been working towards reducing tissue damage in patients with cerebral ischemia by rapidly and non-invasively cooling targeted areas of the body. Website http://www.benechill.com Transaction Type Venture Equity Transaction Amount $13,500,000 Transaction … Continue reading “BeneChill Lands $13,500,000 Series C Funding Round”

Narus Obtains $8,700,000 New Funding Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=edf5b4ec-1c76-4d08-9f14-0920be0369ea&Preview=1 Date 7/20/2009 Company Name Narus Mailing Address 570 Maude Court Sunnyvale, CA 94085 Company Description With its patented technology and processes, Narus helps customers like AT&T, Brasil Telecom, Korea Telecom, KDDI, Telecom Egypt, Saudi Telecom, France Telecom and T-Mobile in areas of network security, traffic classification and monitoring. Website http://www.narus.com Transaction … Continue reading “Narus Obtains $8,700,000 New Funding Round”

Intraop Medical Corp. Secures $3,600,000 New Financing

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=7baff7c3-b003-4ab3-88d9-3beab9fab1e4&Preview=1 Date 7/20/2009 Company Name Intraop Medical Corp. Mailing Address 570 Del Rey Avenue Sunnyvale, CA 94085 Company Description Intraop Medical Corporation (“IntraOp”) was formed in April 1993 to develop, manufacture, market and service the Mobetron, a mobile electron beam system designed for intraoperative radiotherapy (“IORT”) treatment of cancer, coronary/vascular restenosis and … Continue reading “Intraop Medical Corp. Secures $3,600,000 New Financing”

SunLink Corporation Garners $1,500,000 New Financing

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=f26523ff-9370-461f-a491-6e977fc5985a&Preview=1 Date 7/20/2009 Company Name SunLink Corporation Mailing Address 1010 B St. #400 San Rafael, CA 94901 Company Description SunLink designs, manufactures and markets the solar industry’s most advanced engineered, roof-friendly, and cost-effective solutions for integrating solar electric systems on commercial flat-roof buildings. SunLink meets the needs of the installer, the owner … Continue reading “SunLink Corporation Garners $1,500,000 New Financing”

San Diego’s 9th Annual Go Go GadgetFest

CommNexus, the San Diego telecom trade group, has organized the ninth annual GadgetFest as an opportunity for tech companies large and small to show their wares and compete to have their technology named “Greatest Gadget.” The exhibit, networking, and registration begin at 4:30 p.m. More information is available here.

Tuning in on the Wavelength for Wireless Health

CommNexus, San Diego’s wireless industry trade group, has asked Clint McClellan, Qualcomm’s senior director of market development, to provide an overview of the wireless health industry. McClellan also will talk about the significance of San Diego’s new West Wireless Health Institute. Registration and networking begins at 7:30 a.m., or you can register online here.

Biocom Roundtable with State Sen. Christine Kehoe

Biocom has organized this legislative roundtable meeting with State Sen. Christine Kehoe, the Democrat whose 39th Senate District includes much of San Diego, Del Mar, and Lemon Grove. Sen. Kehoe chairs the Senate Appropriations Committee, and is a member of the senate committees on banking, finance and insurance, energy, local government, natural resources, and transportation … Continue reading “Biocom Roundtable with State Sen. Christine Kehoe”

IBM Top Massachusetts Official Mohamad Ali Leaves for Big Job at Avaya

Mohamad Ali, IBM’s senior state official for Massachusetts, has left Big Blue after more than 13 years to join enterprise communications equipment company Avaya, Ali announced in a personal e-mail this afternoon. Ali, who started at Avaya on Wednesday with the title of senior vice president of corporate development, has responsibility for all M&A activity … Continue reading “IBM Top Massachusetts Official Mohamad Ali Leaves for Big Job at Avaya”

San Diego Venture Group’s Summer Social

The San Diego Venture Group’s annual summer social is a tropical picnic in paradise. In this case, paradise takes the form of the extraordinary, ocean-front conference center at the southern end of the Scripps Institution of Oceanography campus. More information is available here.

Biocom’s Annual Open House

Biocom, the San Diego life sciences trade association, opens its doors for a back-to-basics afternoon for enjoying food, drinks, and conversation with 400 life sciences colleagues. More information and online registration is here.

Algae, Biofuels, and Logarithmic Growth

San Diego’s early success in academic and industrial biotechnology research has helped to establish the region with an early lead in the fast-paced industrial development of algae-based biofuels technologies. If successful, startups such as Synthetic Genomics and Sapphire Energy could eventually replace petroleum fuels with a renewable energy industry, and transform San Diego into a world leader in renewable … Continue reading “Algae, Biofuels, and Logarithmic Growth”

Dendreon May Open Atlanta Plant

Dendreon, the Seattle-based cancer drug developer, may open a new manufacturing plant in Georgia, according to a report in the Atlanta Business Chronicle. Dendreon’s product, a new drug to treat prostate cancer, is being reviewed for approval by the FDA. Xconomy has written about Dendreon’s limited manufacturing before. The possible plant could cost $80 million … Continue reading “Dendreon May Open Atlanta Plant”

Novartis Extends Alnylam Deal

Cambridge, MA-based Alnylam Pharmaceuticals (NASDAQ:[[ticker:ALNY]]) says that Swiss drug giant Novartis has opted to extend the companies’ research collaboration related to RNA interference treatments for a fifth year. The extension means that Novartis will continue to fund certain research and development efforts at Alnylam through October 2010. “We view this development as very positive for … Continue reading “Novartis Extends Alnylam Deal”

Former Googler Launches Sharein, a Social Tool for Twitter, Facebook, and E-mail

Colin Wong called me from Malaysia last night. His startup, Bellevue, WA-based Sharein (formerly ZoeCity), has rolled out an interesting new product and website today—a bookmark tool for sharing links with friends, family, and customers to Twitter, Facebook, and e-mail, all from your Web browser. It’s not earth-shattering technology, but it’s part of a new … Continue reading “Former Googler Launches Sharein, a Social Tool for Twitter, Facebook, and E-mail”

The World According to Eric Topol

Connect’s Frontiers in Science and Technology hosts Eric Topol, the cardiologist and Scripps Health chief academic officer, to discuss the advances he is seeing. Topol also serves as director of the NIH-funded Scripps Translational Science Institute, as a senior consultant cardiologist at Scripps Clini, and as chief medical officer of the West Wireless Health Institute. More … Continue reading “The World According to Eric Topol”

Nitro Investors Get $23M in Sapient Stock

A regulatory filing published yesterday showed that Boston, MA-based marketing and technology consultancy Sapient (NASDAQ: [[ticker:SAPE]]) had issued company shares worth $23.4 million in a private stock offering. According to the company, the shares were part of Sapient’s purchase last month of Nitro, an international advertising firm, for approximately $50 million in cash and stock. … Continue reading “Nitro Investors Get $23M in Sapient Stock”

Throw Out The First Pitch! San Diego Tech Coast Angels Host Third Annual Quick Pitch Competition

Selected entrepreneurs will make a two-minute quick pitch presentation to members of the San Diego network of Tech Coast Angels. A panel comprising veteran CEOs and startup investors will score both the substance of your presentation and the quality of your presentation itself. Winners will receive valuable services and awards plus great exposure. Only the … Continue reading “Throw Out The First Pitch! San Diego Tech Coast Angels Host Third Annual Quick Pitch Competition”

Microsoft and Yahoo Finally Making a Deal?

Microsoft and Yahoo, after complicated negotiations and a few false starts, may be very close to announcing a deal wherein Redmond, WA-based Microsoft will take over the search advertising business run by Sunnyvale, CA-based Yahoo. The latest news, from a report on All Things Digital (and many other subsequent articles), indicates a formal announcement could … Continue reading “Microsoft and Yahoo Finally Making a Deal?”

Femta Raises $1M

Femta Pharmaceuticals, a San Diego biotech developing a new generation of antibody therapeutics, is raising $1 million in venture captial, according to a recent filing with government regulators. Investors were not disclosed in the filing, although San Francisco’s Latterell Venture Partners identifies Femta as one of its portfolio companies. Femta was founded last year.

Xconomy Boston Is On The (Very Short) Move

Posting will be light from Xconomy Boston today, as we’re busy hauling our stuff three blocks down Rogers Street to our new headquarters at 101 Rogers Street. That’s right, we’re moving form 10 Rogers St., Suite 101, to 101 Rogers St., Suite 402—let the confusion begin! I can’t tell you how lucky we feel, particularly … Continue reading “Xconomy Boston Is On The (Very Short) Move”

To ESRI’s Thompson, GIS Mapping Innovations Are The ‘Canvas On Which We Draw the Story of Analysis’

I met Simon Thompson at the center of the GIS world, which was set at least for several days this week at 32.7090 degrees North, 117.1644 degrees West. Those are the coordinates for the main exhibit hall of the San Diego Convention Center, where more than 12,000 people interested in GIS, or Geographic Information Systems, … Continue reading “To ESRI’s Thompson, GIS Mapping Innovations Are The ‘Canvas On Which We Draw the Story of Analysis’”

Art Isn’t Free: The Tragedy of the Wikimedia Commons

I came across a nice Isaac Asimov quote this week: “No sensible decision can be made any longer without taking into account not only the world as it is, but the world as it will be.” The copyright dispute that went public this week between the UK’s National Portrait Gallery and the Wikimedia Commons is … Continue reading “Art Isn’t Free: The Tragedy of the Wikimedia Commons”

Aculon Offers Cleantech Breakthrough as it Commercializes Nanocoating Technology

After getting a briefing last month from Aculon CEO Ed Hughes, I would not have thought of the five-year-old San Diego startup as a cleantech company. Nanotechnology? Yes. Materials Science? Absolutely. Cleantech? Nah, not really. Yet Aculon is announcing today that it has developed a formulation of its proprietary nanocoating technology to replace certain applications … Continue reading “Aculon Offers Cleantech Breakthrough as it Commercializes Nanocoating Technology”

$50M for ConforMIS, $8.2M for ConnectEDU, $7.25M for MedVentive, & More Boston-Area Deals News

I’m happy to say that the last week has provided a number of venture financings to talk about, and a few other deals as well. —Waltham, MA-based North Bridge Venture Partners committed to participating in a planned $5 million Series A round of financing for MC10. The newbie firm, formed last year and housed in … Continue reading “$50M for ConforMIS, $8.2M for ConnectEDU, $7.25M for MedVentive, & More Boston-Area Deals News”

HP Acquires IBRIX for Undisclosed Sum

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=a5381bef-3764-4e60-bd31-18d92ad8d5e1&Preview=1 Date 7/17/2009 Company Name IBRIX Mailing Address 300 Concord Road Billerica, MA 01821 Company Description IBRIX is developing critical solutions that address the fundamental shift taking place in the enterprise compute environment from proprietary, monolithic architectures to those utilizing standards-based, commodity hardware. With software-based scalable file storage solutions able to address … Continue reading “HP Acquires IBRIX for Undisclosed Sum”

Femta Pharmaceuticals Obtains $1,000,000 New Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=88beb2a3-9d95-4719-9b0a-00cdff7a9c7e&Preview=1 Date 7/17/2009 Company Name Femta Pharmaceuticals Mailing Address Undisclosed San Diego, CA 92121 Company Description Femta Pharmaceuticals, a San Diego biotech developing company. Website http://www.femtapharma.com/ Transaction Type Venture Equity Transaction Amount $1,000,000 Transaction Round Undisclosed Proceeds Purposes Proceeds purposes were not disclosed. M&A Terms Venture Investor Latterell Venture Partners

Mpire CEO Matt Hulett to Step Down, Become Executive Chairman—and Join RealGames

Matt Hulett, the chief executive of Seattle-based Mpire, is stepping down as of August 14 to become executive chairman of the firm. Mpire runs the popular online advertising network Widgetbucks, and in April the firm rolled out an ad-optimizing service called AdXpose. The company is actively recruiting for a new CEO with expertise in advertising … Continue reading “Mpire CEO Matt Hulett to Step Down, Become Executive Chairman—and Join RealGames”