There was a lot of life sciences news over the past week in San Diego, with much of it coming out of the American Diabetes Association annual meeting in New Orleans. —At a time when San Diego’s Amylin Pharmaceuticals (NASDAQ: [[ticker:AMLN]]) doesn’t need more challenges, Denmark’s Novo Nordisk announced that liraglutide, its once-daily diabetes drug, … Continue reading “Anadys Cuts Jobs, Obesity Drug Developers Show Intriguing Results, Trius Antibiotic Passes Key Test, & More San Diego Life Sciences News”
UW Spinout, Beat BioTherapeutics, Aims to Make Stem Cells for Damaged Hearts
Stem cell researchers have a lot of big dreams, and one is to someday regenerate damaged hearts. That is still many years away from becoming a commercial reality, if ever, but a few University of Washington scientists have formed a new company that hopes to make cells that can replace pacemakers, and someday rebuild damaged … Continue reading “UW Spinout, Beat BioTherapeutics, Aims to Make Stem Cells for Damaged Hearts”
Dendreon Resists Urge to Sell Out, NanoString Nabs $30M, VC Firm Cashes Out on OncoGenex, & More Seattle-Area Life Sciences News
This is definitely not in sync with the economic theme of 2009, but surprisingly, there was a lot of good news in Seattle biotech the past week. —Dendreon CEO Mitchell Gold fielded a lot of questions at the company’s annual shareholder meeting yesterday, and the biggest one of all is whether he’s looking to sell … Continue reading “Dendreon Resists Urge to Sell Out, NanoString Nabs $30M, VC Firm Cashes Out on OncoGenex, & More Seattle-Area Life Sciences News”
Twitter’s Growth May Be Illusory, Says HubSpot Report
“Tweet, tweet,” chirped the robin outside my window yesterday. Given the Wall Street Journal’s report last month that 32.1 million people now have Twitter accounts, it seems like much of humanity is poised to join the robin and his avian cohorts in tweeting. Not everyone who has a Twitter account is using it though, according … Continue reading “Twitter’s Growth May Be Illusory, Says HubSpot Report”
DTT Surveillance Inc Lands $7,000,000 New Funding Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=b829a503-64e3-49a9-ab14-3db4900eb03f&Preview=1 Date 6/11/2009 Company Name DTT Surveillance Inc Mailing Address 1755 N. Main St Los Angeles, CA 90031 Company Description Innovation begins with experience. Founded in 1999, Los Angeles-based DTT Surveillance is the leading supplier of digital surveillance products for the restaurant industry. Since first launched DTT has equipped, serviced and supported … Continue reading “DTT Surveillance Inc Lands $7,000,000 New Funding Round”
Mercantila Lands $1,000,000 New Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=b341788d-5aae-4194-b106-15cf681ae0ec&Preview=1 Date 6/11/2009 Company Name Mercantila Mailing Address 665 Chestnut Street 2nd Floor San Francisco, CA 94133 Company Description We are a collection of hundreds of specialty stores. Each Mercantila specialty store is focused on one product category; each offers our unique blend of unbeatable selection and expert advice, backed by our … Continue reading “Mercantila Lands $1,000,000 New Financing”
Aperto Networks Obtains $170,000 New Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=2e5e3077-fd9c-4965-9d02-17ec5b698c1e&Preview=1 Date 6/11/2009 Company Name Aperto Networks Mailing Address 598 Gibraltar Drive Milpitas, CA 95035 Company Description Aperto Networks is a manufacturer of wireless networking equipment used to connect service providers to broadband customers over the last mile. Website http://www.apertonet.com Transaction Type Debt Transaction Amount $170,000 Transaction Round Undisclosed Proceeds Purposes Proceeds … Continue reading “Aperto Networks Obtains $170,000 New Round”
Cloud9 Analytics Receives Series B Funding
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=9aaff618-d68e-4e4a-beb9-40dfb642e34a&Preview=1 Date 6/11/2009 Company Name Cloud9 Analytics Mailing Address 333 Twin Dolphin Drive Redwood City, CA 94065 Company Description Cloud9 Analytics is developing an On-Demand Sales Performance Management Application for Salesforce.com customers. Our Software-As-a-Service (SaaS) offering, delivers role-based, interactive, analytical dashboards including – Advanced Pipeline Analytics, Sales Effectiveness Analytics and Triangulated Forecasting … Continue reading “Cloud9 Analytics Receives Series B Funding”
Alios BioPharma Lands $32,000,000 Series A Funding Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=1ec5c287-7e14-4603-b982-59c0a6d55da8&Preview=1 Date 6/11/2009 Company Name Alios BioPharma Mailing Address 101 A Hickey Boulevard South San Francisco, CA 94080 Company Description Alios is discovering and developing novel therapeutic agents based on three platform technologies including: small molecule activators of innate immunity antiviral pathways (RNase L activation), phosphate protected nucleotide prodrug chemistry, and glycoprotein-engineering … Continue reading “Alios BioPharma Lands $32,000,000 Series A Funding Round”
Dilithium Networks Lands $8,000,000 New Funding Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=17ffeb7f-cfd8-4cb0-8ffa-78a840201aa4&Preview=1 Date 6/11/2009 Company Name Dilithium Networks Mailing Address 5401 Old Redwood Highway Petaluma, CA 94954 Company Description Dilithium Networks is the leader in 3G video telephony solutions for the world’s mobile and broadband industries. Website http://www.dilithiumnetworks.com Transaction Type Venture Equity Transaction Amount $8,000,000 Transaction Round Undisclosed Proceeds Purposes Proceeds purposes were … Continue reading “Dilithium Networks Lands $8,000,000 New Funding Round”
PlanarMag Secures $4,000,000 New Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=3827dfe4-eb56-4ed9-94b4-aa0b7c9a59f5&Preview=1 Date 6/11/2009 Company Name PlanarMag Mailing Address 2945 Ramco West Sacramento, CA 95691 Company Description PlanarMag is advancing the magnetic components industry into the world of microelectronics. Drawing from practices used in the integrated circuit industry, PlanarMag applies advanced design and process technology to develop innovative solutions for wired and wireless … Continue reading “PlanarMag Secures $4,000,000 New Round”
Casual Connect Seattle 2009
Casual Connect Seattle 2009 is expected to draw more than 2,000 people from the U.S. casual gaming industry to the Northwest. Sponsors include local players like Big Fish Games, Microsoft Casual Games, WildTangent, and PopCap Games. The event is being held July 21-23 at Benaroya Hall in Seattle. For more information, click here.
WBBA Golf Invitational
The Washington Biotechnology & Biomedical Association is hosting its fifth annual WBBA Golf Invitational at the Fairwood Country Club in Renton, WA. The early bird rate is $200 until June 15, after which it will be $235. All skill levels are welcome, and proceeds from the event will go to Biopac, the WBBA’s political action … Continue reading “WBBA Golf Invitational”
By Fostering Innovation, San Diego Will Pull Venture Capital From Everywhere
Against the backdrop of a broad decline in venture investing nationwide, some concerns have been raised about San Diego’s hometown VCs and whether they are continuing to actively invest. But San Diego remains a vibrant community for venture capitalists to invest. We enjoy diverse industries including biotech, wireless, software, cleantech, and more. Good money follows … Continue reading “By Fostering Innovation, San Diego Will Pull Venture Capital From Everywhere”
WBBA Summer Social
The Washington Biotechnology & Biomedical Association is hosting its 11th annual summer social in the afternoon of July 16. Seattle Mayor Greg Nickels is expected to make an appearance at the event, which is expected to draw about 400 people to the Naval Reserve Center at South Lake Union Park. Cost is $35 for WBBA … Continue reading “WBBA Summer Social”
Cell Therapeutics, After Raising More Cash, Hands Some Out in Management Bonuses
Cell Therapeutics (NASDAQ: [[ticker:CTIC]]) has been running dangerously low on cash this year, on a “tight-wire act” in the words of CEO James Bianco. Now the board has decided to hand out some rewards to management for not falling off. The compensation committee of the Seattle biotech company’s board agreed on June 4 to pay … Continue reading “Cell Therapeutics, After Raising More Cash, Hands Some Out in Management Bonuses”
Microsoft Shuts Down MS Money
Microsoft announced today that it will stop selling its personal finance program, MS Money, at the end of this month. The Redmond, WA-based company cited banks and websites which provide similar services as the reason for discontinuing the program, which had already been removed from retail stores last year and is available only online. This … Continue reading “Microsoft Shuts Down MS Money”
Friday Is the Deadline to Enter Xconomy’s Battle of the Tech Bands
Two more days… That’s all that stands between us and the start of the ultra-competitive judging process to determine the finalists for Xconomy’s Battle of the Tech Bands. In case you haven’t heard, the big event is taking place on July 30, at the Washington Technology Industry Association’s annual summer celebration in Seattle (event details … Continue reading “Friday Is the Deadline to Enter Xconomy’s Battle of the Tech Bands”
Governor Patrick Announces $1 Million Business Plan Competition to Draw Startups to Massachusetts
Massachusetts Governor Deval Patrick today announced the creation of a $1 million annual business plan competition designed to attract more high-growth startups to the state. The competition, which will get underway next year, will be modeled on similar contests at MIT and other universities, but will be open to all teams of entrepreneurs willing to … Continue reading “Governor Patrick Announces $1 Million Business Plan Competition to Draw Startups to Massachusetts”
Dendreon, Resisting Urge to Sell, Eyes Opportunity to Be Seattle’s Next Immunex
Dendreon CEO Mitch Gold envisions his company becoming the next anchor tenant for the biotechnology industry in Seattle—the first big success story since Immunex in the late 1990s and early 2000s. For those in need of a refresher, Dendreon (NASDAQ: [[ticker:DNDN]]) has been riding a wave of enthusiasm the past couple months, since a clinical … Continue reading “Dendreon, Resisting Urge to Sell, Eyes Opportunity to Be Seattle’s Next Immunex”
SpectraWatt Gets $500K Grant
SpectraWatt, a Hillsboro, OR-based maker of photovoltaic cells, received a $500,000 contract from the National Renewable Energy Laboratory yesterday. Part of the American Recovery and Reinvestment Act, the contract is for the company to develop ways of improving solar cells without changing current manufacturing processes. SpectraWatt was one of 13 companies to receive money from … Continue reading “SpectraWatt Gets $500K Grant”
Digital TV Conversion Clears Way for Qualcomm’s Flo TV Expansion to Boston, Other Markets
Qualcomm’s delayed plan to substantially expand the scope of its Flo TV service should finally take effect tomorrow, once television broadcasters in 39 markets turn off their analog transmitters and switch to digital TV broadcasts. Tomorrow’s planned DTV transition will free broadband spectrum on what was UHF Channel 55 that will be used by Flo … Continue reading “Digital TV Conversion Clears Way for Qualcomm’s Flo TV Expansion to Boston, Other Markets”
Avalon’s aFraxis Raises $750K
San Diego’s aFraxis has raised $750,000 in early stage funding, according to a recent regulatory filing submitted to the Securities and Exchange Commission. The startup backed by San Diego’s Avalon Ventures was founded in 2007, and is focused on developing treatments for Fragile X syndrome and autism. Avalon’s Jay Lichter is listed as chief executive … Continue reading “Avalon’s aFraxis Raises $750K”
A Fresh Take on Websites and Wiki-Based Discovery, from Ray King of AboutUs
I dropped in on AboutUs for a mid-year checkup while I was in Portland, OR, last week. The company announced a $2.5 million Series A funding round from Voyager Capital in January, and has been transitioning from startup mode to strategic execution of its plans to reinvent how people discover and share information on the … Continue reading “A Fresh Take on Websites and Wiki-Based Discovery, from Ray King of AboutUs”
New Owner Laying Off a Quarter of Indevus Pharma Employees
For some former employees of Indevus Pharmaceuticals, it’s not such great news that the Lexington, MA, drug developer was acquired by Endo Pharmaceuticals. Chadds Ford, PA-based Endo (NASDAQ:[[ticker:ENDP]]), which completed its $370 million buyout of Indevus in March, is in the process of laying off a quarter of Indevus employees and moving research programs out … Continue reading “New Owner Laying Off a Quarter of Indevus Pharma Employees”
MDRNA Raises $10.5M
MDRNA, the Bothell, WA-based developer of RNA interference drug technology, said today it has raised $10.5 million in a stock sale to existing investors. The company (NASDAQ: [[ticker:MRNA]]) agreed to sell 5.25 million shares at $2 apiece, plus warrants to buy the same number of shares at $2.38 over the next 5.5 years. Canaccord Adams … Continue reading “MDRNA Raises $10.5M”
Northern Power Systems Aims for Large-Scale Wind Turbine Market, Taking on Industry Giants
Northern Power Systems is a busy company these days. The Barre, VT-based firm is expanding its business of designing and making medium-sized wind turbines to include the production of larger, utility-scale systems. Competition in the utility-scale market is fierce, but Northern Power has developed wind-turbine technology that its leadership believes will enable the firm to … Continue reading “Northern Power Systems Aims for Large-Scale Wind Turbine Market, Taking on Industry Giants”
Raj Krishnan: Moving From Cancer Diagnosis Innovation to a Business
What recourse does an entrepreneur have when there is no venture capital for a start-up with a truly promising invention? At San Diego’s Biological Dynamics, 27-year-old founder Raj Krishnan’s solution is to win entrepreneur and student competitions—and so far he has won 13 awards, nine of them this year, including most recently a $40,000 first … Continue reading “Raj Krishnan: Moving From Cancer Diagnosis Innovation to a Business”
Icahn Bags Two Biogen Board Seats, Pharma Giants Add $40M to Aileron Coffers, Pulmatrix Proceeds With Tests of Flu-Blocking Aerosol, & More Boston-Area Life Sciences News
Ryan and Luke profiled some extremely interesting companies this week. More on those, and the rest of the week’s New England life sciences news, below. —Billionaire investor Carl Icahn succeeded—at least partially—in his attempt to gain representation on the board of Cambridge, MA-based Biogen Idec (NASDAQ: [[ticker:BIIB]]). Roxanne reported live from the highly contentious annual … Continue reading “Icahn Bags Two Biogen Board Seats, Pharma Giants Add $40M to Aileron Coffers, Pulmatrix Proceeds With Tests of Flu-Blocking Aerosol, & More Boston-Area Life Sciences News”
Ventures West Cashes Out Stake in OncoGenex, Developer of Prostate Cancer Drug
Who says you can’t make money investing in biotech? Vancouver, BC-based Ventures West, one of the largest venture firms in Canada, has cashed out on its booming investment in Bothell, WA-based OncoGenex Pharmaceuticals (NASDAQ: [[ticker:OGXI]]). Ventures West disclosed earlier this week in a regulatory filing that it has sold all of its shares in OncoGenex—which … Continue reading “Ventures West Cashes Out Stake in OncoGenex, Developer of Prostate Cancer Drug”
Survey Shows VCs Expect Huge Shifts in Fundraising, Global Investing
We keep hearing there’s no better opportunity to start a company than during hard times, but a survey of venture capitalists shows that doesn’t necessarily translate into increased investment activity. In fact, results of a survey of VCs around the world being released today show that just over half (51 percent) of 725 VCs who … Continue reading “Survey Shows VCs Expect Huge Shifts in Fundraising, Global Investing”
MDRNA Obtains $10,500,000 New Funding
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=49f0b46c-bad2-4685-9530-9443fbdb32ac&Preview=1 Date 6/10/2009 Company Name MDRNA Mailing Address 3830 Monte Villa Parkway Bothell, WA 98021 Company Description MDRNA is a biotechnology company focused on the development and commercialization of therapeutic products based on RNA interference (RNAi). We are building a broad, flexible and cutting-edge drug discovery platform based on the premise that … Continue reading “MDRNA Obtains $10,500,000 New Funding”
State Set to Make Big, “Green” High Performance Computing Announcement: Effort to Bring Jobs to Western MA
Updated with additional detail June 9, 8:10 pm; further update and a correction added June 10, 7:15 am—see below A university, industry, and Massachusetts government coalition is set to announce a major initiative in high performance computing later this week, Xconomy has learned. Official sources are guarded, and specifics were hard to come by tonight. … Continue reading “State Set to Make Big, “Green” High Performance Computing Announcement: Effort to Bring Jobs to Western MA”
Vu1 Gains $500K, Replaces CEO
Vu1, a Seattle-based developer of energy-efficient light bulbs that don’t use mercury, announced today that it has raised $500,000 from Full Spectrum Capital as part of a convertible debt financing agreement. Full Spectrum could choose to loan as much as $7 million. Vu1 also announced the resignation of CEO and director David Grieger, who joined … Continue reading “Vu1 Gains $500K, Replaces CEO”
Sorenson Gets Video to iPhone
After rolling out its Sorenson 360 video delivery network last month, Sorenson Media of Carlsbad, CA, says its network now enables any website owner to publish video that can viewed on the iPhone’s web browser. The online media company founded in Salt Lake City, UT, says its enhanced video publish platform is compatible with all … Continue reading “Sorenson Gets Video to iPhone”
Biogen Idec Confirms Second Icahn Pick Elected to Board of Directors
Carl Icahn has landed a one-two punch on Biogen Idec. Today, the Cambridge, MA-based biotech confirmed what the activist investor had proclaimed last week—that two members of Icahn’s board slate have been elected to Biogen’s board of directors. This afternoon, the company acknowledged that Richard Mulligan, a professor of genetics at Harvard Medical School and … Continue reading “Biogen Idec Confirms Second Icahn Pick Elected to Board of Directors”
SonoSite Buys CardioDynamics for $12.3M
Sonosite (NASDAQ: [[ticker:SONO]]), the Bothell, WA-based maker of portable ultrasound machines, announced today it will purchase San Diego-based CardioDynamics International (NASDAQ: [[ticker:CDIC]]), a developer and manufacturer of noninvasive medical diagnostic tools for cardiovascular disease. SonoSite paid $1.35 per share in cash, or about $10 million. The total deal is worth $12.3 million when accounting for … Continue reading “SonoSite Buys CardioDynamics for $12.3M”
Zillow, Pet Holdings, BuddyTV Top Startup List
Seattle 2.0’s monthly startup index is out for May 2009, and Seattle-based Zillow, Pet Holdings, and BuddyTV top the list in terms of traffic estimates to their websites. Notable gains were made in the top 100 startup websites by Gist, LoudLaunch, and Zooppa.
Drastic Cuts at Dataupia—Company Lays Off Majority of Staff While Hunting for New Investors
Cambridge, MA-based data warehousing appliance maker Dataupia has laid off nearly two-thirds of its staff and scaled back its operations while it seeks new funders, Xconomy has learned. We contacted Dataupia today after hearing a rumor that the four-year-old startup had shut down—a rumor that turns out to be exaggerated but not wholly unfounded. “Dataupia … Continue reading “Drastic Cuts at Dataupia—Company Lays Off Majority of Staff While Hunting for New Investors”
Amazon Solicits Customers for TV Ad Ideas
Amazon.com wants your brain. Well, actually it wants your creative ideas for a television advertisement. The “Your Amazon Ad Contest” announced yesterday is giving customers of the Seattle, WA-based internet retail giant a chance to send in their own ads for the website. Two winners, one picked by Amazon and one voted on by people … Continue reading “Amazon Solicits Customers for TV Ad Ideas”
Tapping Into the Federal Economic Stimulus Package
Technology-based startup companies that once looked to venture capital firms for funding are now turning to the federal government. Stimulus funding is available to both large and small tech companies. But they key is understanding the proper steps to access federal money. Panelists include experts in federal government relations from Buchanan Ingersoll & Rooney and … Continue reading “Tapping Into the Federal Economic Stimulus Package”
Gather Nets $5.3 M
Gather, a Boston-headquartered social networking site aimed at users over 30, announced today that it has raised $5.3 million in equity financing. Major investors in the round include Allen & Company, American Public Media, Jim Manzi (former CEO of the Lotus Development Corporation), Jack Connors (former CEO of Hill Holiday), Kevin McClatchy, Andrew Tobias, and … Continue reading “Gather Nets $5.3 M”
Making Money in the Mobile Ecosystem
Apple recently announced that its App Store has topped 50,000 applications available for the iPhone and iPod Touch and has garnered over a billion downloads. The Indus Entrepreneurs are hosting a panel discussion on the future implications of this new, fast-paced industry. TiE writes: “How do we benefit from this explosion in demand in the … Continue reading “Making Money in the Mobile Ecosystem”
Microsoft Spins Out Irish Firm InishTech
Microsoft’s IP Ventures program announced today it has launched a new startup called InishTech, based in Dublin, Ireland. The company will handle Microsoft’s Software Licensing and Protection Services, an existing business since 2007. Microsoft is providing an undisclosed amount of startup funding, as well as support through its BizSpark program. Its IP Ventures program has … Continue reading “Microsoft Spins Out Irish Firm InishTech”
MadCap Offers a Lesson in Bootstrapping, and a Case Study on Offshoring
San Diego’s MadCap Software may stand as an exemplar in showing how a small American technology company can compete against rivals that take advantage of low-cost development offshore. The startup, founded in 2005, specializes in developing authoring software that is used by technical writers and others to create owners’ manuals, user guides and other types … Continue reading “MadCap Offers a Lesson in Bootstrapping, and a Case Study on Offshoring”
Ahmet Ozalp New CEO at Telenity
Ahmet Ozalp, a former partner at Atlas Venture in Waltham, MA, has joined communications software and services firm Telenity as its CEO, according to a press release. At Atlas, Ozlap led investments in technology firms such as ExtendMedia, a Newton, MA-based provider of software for managing digital content, and MyVu, a Westwood, MA, a developer … Continue reading “Ahmet Ozalp New CEO at Telenity”
Vermont Utility Signs with EnerNOC
Green Mountain Power—the Colchester, VT-based electrical utility that serves approximately one-quarter of Vermont residents—said today that it has joined the New England demand-response pool managed by Boston-based EnerNOC (NASDAQ: [[ticker:ENOC]]). Green Mountain customers who are already registered through the utility to receive payments or rate reductions in return for a commitment to roll back electrical … Continue reading “Vermont Utility Signs with EnerNOC”
MDRNA Nasal Spray Gets FDA Nod
Bothell, WA-based MDRNA (NASDAQ: [[ticker:MRNA]]) said today that a generic calcitonin nasal spray for osteoporosis has received FDA approval, and has been introduced to the market. The Bothell, WA-based company sold the product in March to Woodcliff Lake, NJ-based Par Pharmaceutical (NYSE: [[ticker:PRX]]), although MDRNA still stands to receive an undisclosed profit share from the … Continue reading “MDRNA Nasal Spray Gets FDA Nod”
Taris Biomedical Gives Glimpse of Drug-Delivery Tech, Discloses $15M Series A
We’ve heard talk since the middle of last year that MIT inventors Michael Cima and Bob Langer had again united with top venture capitalists in the Boston area to launch a life sciences startup. But the founders of the startup have tried to keep lid on their activities—until today. Taris Biomedical, formerly known as Certus … Continue reading “Taris Biomedical Gives Glimpse of Drug-Delivery Tech, Discloses $15M Series A”
Living Proof Picks Allurent Software
Living Proof, a Cambridge, MA-based startup that applies advanced material science to the beauty industry, has adopted interactive online shopping software developed by fellow venture-backed Cambridge firm Allurent, according to a press release. Living Proof, which has been well chronicled for its products that combat frizzy hair, will use Allurent’s software and widgets to provide … Continue reading “Living Proof Picks Allurent Software”