Greenfuel Selling Off Assets

Greenfuel Technologies, the Cambridge, MA, biofuels startup that closed its doors last month after running out of venture cash, is trying to scrape together some money for its creditors and investors through a sale of intellectual property and other assets. In a post on its website today, the company said it’s entertaining offers for its … Continue reading “Greenfuel Selling Off Assets”

Feeling Hot, Hot, Hot: A Portland Startup Preview

I spent yesterday pounding the pavement in Portland, OR, enjoying a burst of warm sunshine and a weird, creative vibe. It offered a great contrast from the last time I tried to travel there for work meetings, back in January when I-5 was underwater and Amtrak wasn’t running. This visit was enough to make me … Continue reading “Feeling Hot, Hot, Hot: A Portland Startup Preview”

Cluetrain at 10: So How’s Utopia Working Out for Ya?

The Berkman Center for Internet and Society hosts an event looking back at the Cluetrain Manifesto, 10 years after its publication. From the event description: “The Cluetrain Manifesto, posted in April, 1999, immediately became a touchstone in the digital culture wars. Its four authors – Rick Levine, Christopher Locke, Doc Searls, and David Weinberger – … Continue reading “Cluetrain at 10: So How’s Utopia Working Out for Ya?”

Amylin Chairman, Lead Director Ousted as Dissidents Gain Two Board Seats

The shareholders of San Diego-based Amylin Pharmaceuticals (NASDAQ: [[ticker:AMLN]]) have spoken, and they’ve ousted the company’s chairman of the board and the lead independent director. Amylin chairman Joseph Cook and lead independent director James Wilson lost their bid for re-election, the company said today, after votes were tallied from the shareholder meeting of May 27. … Continue reading “Amylin Chairman, Lead Director Ousted as Dissidents Gain Two Board Seats”

The Health 2.0 Hub, Boston’s Secret Entertainment Cluster, A Path to Market for Energy Innovations, Dean Kamen, and more XSITEment

There are three weeks and one day to go before XSITE—the Xconomy Summit on Innovation, Technology, and Entrepreneurship, which we are holding at Boston University on June 24—and we are pumped. We are finalizing the agenda, and have added a host of fantastic new speakers, including inventor extraordinaire Dean Kamen. We’re also putting the finishing … Continue reading “The Health 2.0 Hub, Boston’s Secret Entertainment Cluster, A Path to Market for Energy Innovations, Dean Kamen, and more XSITEment”

RealNetworks Partners with Netbook OS Vendors

Seattle-based RealNetworks (NASDAQ: [[ticker:RNWK]]) announced today it has signed licensing agreements to power entertainment and digital media applications on netbooks and mobile devices. The digital entertainment giant has formed partnerships with operating system vendors including Canonical, Xandros, Phoenix, and DeviceVM, so now it targets both Windows and Linux-based devices. The move is being viewed as … Continue reading “RealNetworks Partners with Netbook OS Vendors”

Facebook Funds Seattle Startups, 1000 Markets Gets Seed Financing, Modumetal Closes Equity Round, & More Seattle-Area Deals News

Heading into the summer months, deals in the Northwest show no signs of slowing down. Neither does Xconomy, which debuted the reporting of our Seattle intern, Eric Hal Schwartz, last Tuesday. In the past week, Eric, Luke, and I have had our hands full with deals in biotech, materials, software, and energy. —Microsoft (NASDAQ: [[ticker:MSFT]]) … Continue reading “Facebook Funds Seattle Startups, 1000 Markets Gets Seed Financing, Modumetal Closes Equity Round, & More Seattle-Area Deals News”

Inovio and VGX Pharma Merge

San Diego DNA vaccine developer Inovio Biomedical (NYSE: [[ticker:INO]]) says it has completed its merger with VGX Pharmaceuticals of Blue Bell, PA. The combination gives Inovio more time to develop its approach to new preventive and therapeutic vaccines against cancers and chronic infectious diseases such as HIV. Inovio says it has $11.7 million in available cash and … Continue reading “Inovio and VGX Pharma Merge”

Qualcomm Opens Mirasol Display Plant

San Diego’s Qualcomm (NASDAQ: [[ticker:QCOM]]) says it has commenced operations at its mirasol display fabrication facility in Taiwan, which the wireless technology giant operates with Foxlink, a leading device manufacturer. Qualcomm MEMS Technology’s plant in manufactures displays on generation 4.5 glass, which is based on the innovative mirasol (“look at the sun”) display technology that provides superior … Continue reading “Qualcomm Opens Mirasol Display Plant”

Concert Pharma Jamming with Glaxo in Deal with $1B-Plus Potential

Concert Pharmaceuticals has hooked a whale in the drug industry, London-based GlaxoSmithKline, for its first corporate partnership deal concerning the biotech startup’s deuterium-modified drugs. Lexington, MA-based Concert reports today it will receive $35 million from Glaxo (NYSE:[[ticker:GSK]]) in upfront payments and equity investments in the deal, which could be worth more than $1 billion to … Continue reading “Concert Pharma Jamming with Glaxo in Deal with $1B-Plus Potential”

Clinical Data Touts Antidepressant Trial Data

Newton, MA-based Clinical Data (NASDAQ:[[ticker:CLDA]]), announced positive results from the second Phase III trial of its antidepressant, vilazodone. In a study of 481 patients, the drug reduced depression symptoms, was well tolerated, and did not seem to result in sexual side effects; the results were similar to those from the first Phase III trial, which … Continue reading “Clinical Data Touts Antidepressant Trial Data”

Polatis Raises $8 Million

Polatis, a startup that makes optical switches from its bases in Andover, MA, and Cambridge, England, said today that it has obtained $8 million in new venture funding from existing investors 3i Ventures, Alta-Berkeley Ventures, DFJ Esprit, Flagship Ventures, Gainesborough & Peponi Investments, JK&B Partners, and the Massachusetts Technology Development Corporation. CEO Gerald Wesel said … Continue reading “Polatis Raises $8 Million”

Early Cancer Diagnosis Startup Wins Entrepreneur Challenge

A biotechnology company aiming to revolutionize early-stage cancer screening last night won the UC San Diego Entrepreneur Challenge. Biological Dynamics, led by bioengineering PhD student and CEO Raj Krishnan and his fellow graduate students David Charlot and Roy Lefkowitz, took home the $40,000 first prize. Biological Dynamics has developed a screening tool that identifies secondary … Continue reading “Early Cancer Diagnosis Startup Wins Entrepreneur Challenge”

Genomatica Clears Way for ‘Sustainable Chemical’ Demo Plant

San Diego’s Genomatica says it has checked off another technical accomplishment in its quest to take the “petroleum” out of the petrochemical industry. After showing last year that it had engineered bacteria to make butanediol, a key industrial chemical also known as BDO, Genomatica says it now can make BDO in commercial grade batches. In … Continue reading “Genomatica Clears Way for ‘Sustainable Chemical’ Demo Plant”

Of Venture Socialism and the Future of VCs—The Story of Jo Tango and Kepha Partners

This is a story of a different breed of venture capital firm—one so different it practices venture socialism. At least that’s how the founder of Waltham, MA-based Kepha Partners, Josaphat “Jo” Tango, describes it. (Before all you entrepreneurs beat a path to his door thinking he shares more of the wealth back with you, let’s … Continue reading “Of Venture Socialism and the Future of VCs—The Story of Jo Tango and Kepha Partners”

To Build or Buy? Microsoft Amps Up Life Sciences Strategy By Buying Rosetta Biosoftware

Microsoft has been angling toward the life sciences software market for years, and yesterday it made a significant play in the sector by scooping up an industry pioneer just a few miles away. The Redmond, WA-based software company said yesterday it is acquiring the assets of Rosetta Biosoftware, a Seattle-based division of Merck that has … Continue reading “To Build or Buy? Microsoft Amps Up Life Sciences Strategy By Buying Rosetta Biosoftware”

Backing Vision Tech Startup Avedro, VCs Take Long View on Eye Surgery Market

It’s not an ideal time to be in the business of providing vision-correction surgeries such as Lasik, as demand for these mostly elective procedures has fallen in sync with the overall economy. But the consensus at Waltham, MA-based Avedro appears to be that it’s a great time to be developing the next generation of vision-correction … Continue reading “Backing Vision Tech Startup Avedro, VCs Take Long View on Eye Surgery Market”

Hydrogen Cars: Saving the Environment’s a Gas

Cruising north on Interstate-5 in a Chevy Equinox hardly sounds like a reason to be excited, but I felt lighter than air yesterday. That may just be an effect of the hydrogen fueling the car, or perhaps just the giddy sensation that comes from driving the future of General Motors on the same day their … Continue reading “Hydrogen Cars: Saving the Environment’s a Gas”

Tableau Rolls Out BI Software

Seattle-based Tableau Software, a company focused on data visualization and business intelligence, announced today the general release of its new product, Tableau 5.0. Elissa Fink, Tableau’s vice president of marketing, said the software package has more than 60 new features that make it more interactive, so more customers can dive deeper into charts and pull … Continue reading “Tableau Rolls Out BI Software”

The Next Chapter for E Ink: Talking with CEO Russ Wilcox About Yesterday’s Acquisition News

Eight venture rounds—it’s got to be some kind of record. Yet that’s how many times 12-year-old E Ink went back to investors, raising some $150 million, before it finally arranged an exit scenario for its backers. The Cambridge, MA, company, which makes the e-paper displays used in the red-hot Amazon Kindle e-book reader, announced yesterday … Continue reading “The Next Chapter for E Ink: Talking with CEO Russ Wilcox About Yesterday’s Acquisition News”

Polatis, Inc Secures $8,000,000 New Funding Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=41352004-e7ba-4d8e-ad5d-7d537d11bd68&Preview=1 Date 6/2/2009 Company Name Polatis, Inc Mailing Address One Tech Drive Andover, MA 01810 Company Description Polatis has set the benchmark in ultra-low loss optical switching. Its patented direct optical beam steering technology is powering the creation of highly reliable and compact photonic switching solutions. Website http://www.polatis.com Transaction Type Venture Equity … Continue reading “Polatis, Inc Secures $8,000,000 New Funding Round”

EnerG2, Inc Secures $2,500,000 New Financing

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=1866ec32-b01b-483b-91c3-d24fc9ee3a31&Preview=1 Date 6/2/2009 Company Name EnerG2, Inc Mailing Address 810 3rd Avenue Seattle, WA 98104 Company Description Founded in 2003 in Seattle, Washington, EnerG2 pursues commercial opportunities in energy storage created by advanced material processing techniques. Working closely with the University of Washington’s Department of Materials Science & Engineering, EnerG2 has produced … Continue reading “EnerG2, Inc Secures $2,500,000 New Financing”

ESTECH Garners $8,000,000 New Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=9d2f3cfb-ebd9-4f44-b742-2a0b10d56f8e&Preview=1 Date 6/2/2009 Company Name ESTECH Mailing Address 2603 Camino Ramon San Ramon, CA 94583 Company Description ESTECH is a privately held medical device manufacturing and distribution company located in San Ramon, California. Website http://www.estech.com Transaction Type Venture Equity Transaction Amount $8,000,000 Transaction Round Undisclosed Proceeds Purposes Proceeds purposes were not disclosed. … Continue reading “ESTECH Garners $8,000,000 New Round”

Versartis Secures $11,000,000 Series A Funding

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=4e355c48-e654-4758-a30a-93926cf3e224&Preview=1 Date 6/2/2009 Company Name Versartis Mailing Address 303 Twin Dolphin Drive Redwood City, CA 94065 Company Description Versartis is developing new therapeutic proteins utilizing the novel half-life extension technology, XTEN. Versartis has licensed the rights to three products (VRS-826, VRS-859, and VRS-317) from Amunix. Website http://www.versartis.com Transaction Type Venture Equity Transaction … Continue reading “Versartis Secures $11,000,000 Series A Funding”

Apieron Garners Series D Funding

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=b8455193-f379-4ee7-9da2-f9cd4ab02f6a&Preview=1 Date 6/2/2009 Company Name Apieron Mailing Address 155 Jefferson Drive Menlo Park, CA 94025 Company Description Apieron is an early stage, venture-backed medical device company based in Menlo Park, CA. Apieron is developing a non-invasive monitor to measure exhaled nitric oxide for management of asthma. Our biosensor platform utilizes a patented … Continue reading “Apieron Garners Series D Funding”

Lithium Technologies Acquires Keibi Technologies for Undisclosed Sum

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=4b34b6db-0a17-4520-b515-b3d7d06e2b9e&Preview=1 Date 6/2/2009 Company Name Keibi Technologies Mailing Address 685 Market Street San Francisco, CA 94105 Company Description Specifically, Keibi is developing a powerful Media Discovery and Moderation platform for communities. Our holistic approach leverages web semantic and powerful recognition engines to provide robust UGC categorization. In turn, this categorization can be … Continue reading “Lithium Technologies Acquires Keibi Technologies for Undisclosed Sum”

EMC Launches $1.8 Billion Takeover Bid to Wrestle Data Domain Away from Competitor

Hopkinton, MA-based data storage giant EMC (NYSE: [[ticker:EMC]]), attempted today to derail competitor NetApp‘s proposed acquisition of Data Domain, by launching its own higher-priced bid for the Santa Clara, CA-based data deduplication company. In an announcement after the close of the markets this afternoon, EMC said that it has offered to acquire all of Data … Continue reading “EMC Launches $1.8 Billion Takeover Bid to Wrestle Data Domain Away from Competitor”

Cell Therapeutics Lymphoma Drug Boosts Remissions, Shares Boom

[Updated with share price, 4:30 pm ET] Cell Therapeutics is betting the farm on an experimental drug for non-Hodgkin’s lymphoma, and today it showed cancer doctors some evidence it hopes will convince them it’s a winner. The findings sent the company’s shares soaring by 47 percent in the last two hours of trading to close … Continue reading “Cell Therapeutics Lymphoma Drug Boosts Remissions, Shares Boom”

Microsoft, Dipping Toe Deeper into Life Sciences, Buys Rosetta Assets from Merck

Microsoft could be safely ignored on the biotech beat for years, but not anymore. The Redmond, WA-based software powerhouse, in another move to beef up its stake in the life sciences software business, said today it is acquiring the Seattle-based assets of Rosetta Biosoftware from Merck. Financial terms of the deal were not disclosed, but … Continue reading “Microsoft, Dipping Toe Deeper into Life Sciences, Buys Rosetta Assets from Merck”

Trubion Drug Kills Cancer in Blood

Trubion Pharmaceuticals (NASDAQ: [[ticker:TRBN]]), a Seattle-based developer of targeted therapies, said today that its experimental TRU-016 treatment showed encouraging results in a small trial of 26 patients with chronic lymphocytic leukemia. The drug reduced the median number of cancer cells circulating in the blood by about two-thirds, researchers said. Researchers have not yet pinpointed a … Continue reading “Trubion Drug Kills Cancer in Blood”

Using Biotechnology Innovations, Senomyx Makes New Taste Sensations

San Diego-based Senomyx is using some innovations from the biotech industry to develop novel flavor ingredients to enhance tastes, enable food makers to reduce their costs, and improve the “nutritional profile” of food and beverages. At least that’s the way CEO Kent Snyder described it when I met with him recently. Snyder emphasized that Senomyx … Continue reading “Using Biotechnology Innovations, Senomyx Makes New Taste Sensations”

The Future of Search and the Intelligent Web, From Vulcan Capital’s Steve Hall

Search is hot again. Just when you thought Google had everything figured out, along comes Microsoft with its new search engine, Bing. This upstart effort may not supplant the search king, or even compete with it all that seriously, but it will certainly make things interesting for a while. Even more interesting, though, is the … Continue reading “The Future of Search and the Intelligent Web, From Vulcan Capital’s Steve Hall”

Innovative Spinal Technologies Files for Bankruptcy, Says Human Cadaver Assets (Literally) Frozen

[[Updated: see editor’s note below.]] Innovative Spinal Technologies, the Mansfield, MA, maker of minimally invasive spinal repair devices, has filed for Chapter 7 bankruptcy protection after running out of cash and shutting its doors earlier this year. VentureWire published the news this morning. Sources told Xconomy that the bankruptcy was in the works after Wade … Continue reading “Innovative Spinal Technologies Files for Bankruptcy, Says Human Cadaver Assets (Literally) Frozen”

Seattle Genetics Pockets $11.5M

Seattle Genetics, the Bothell, WA-based developer of targeted antibody drugs, has raised another $11.5 million, according to a regulatory filing. The company received approval from existing shareholders sell more shares to Baker Brothers Life Sciences, an investment firm led by one of the firm’s directors, Felix Baker. The $11.5 million sale was a follow-on transaction … Continue reading “Seattle Genetics Pockets $11.5M”

RxVantage Raises $500K from Slater Fund

Providence, RI-based RxVantage, a provider of Web-based scheduling software for healthcare companies and doctors’ offices, has reeled in a $500,000 seed investment from Providence venture firm Slater Technology Fund, according to a press release. RxVantage has recently launched a new version of its Web-based software, which enables medical practices to put their schedules and product … Continue reading “RxVantage Raises $500K from Slater Fund”

ASCO Weekend Recap: OncoGenex, Seattle Genetics, Vulcan-Backed BiPar Show Off Cancer Drug Results

Lots of news from the world of cancer research came out over the weekend at the American Society of Clinical Oncology meeting in Orlando, FL. There was a lot of impressive data coming out of Northwest companies (although most of it is still quite preliminary), so here’s a quick recap to catch up. The conference, … Continue reading “ASCO Weekend Recap: OncoGenex, Seattle Genetics, Vulcan-Backed BiPar Show Off Cancer Drug Results”

Seattle Genetics “Empowered Antibody” Wipes Out Hodgkin’s Tumors in Early Study

Seattle Genetics offered some more evidence, albeit quite preliminary, that suggests it may have a powerful new drug for Hodgkin’s disease and related lymphomas. The Bothell, WA-based biotech company (NASDAQ: [[ticker:SGEN]]) said today about half of patients who failed on multiple previous treatments had their tumors shrink after taking its experimental SGN-35 drug, and more … Continue reading “Seattle Genetics “Empowered Antibody” Wipes Out Hodgkin’s Tumors in Early Study”

Taiwanese Display Maker Buys Cambridge’s E Ink for $215 Million

[Updated 9:45 a.m. June 1, 2009 with details from this morning’s press conference.] Cambridge, MA-based E Ink, the company that makes the electronic paper display used in Amazon’s Kindle e-book reading devices as well as e-book devices from Sony and other companies, will be purchased by Hsinchu, Taiwan-based display manufacturer Prime View International for $215 … Continue reading “Taiwanese Display Maker Buys Cambridge’s E Ink for $215 Million”

ASCO Weekend Highlights: ImmunoGen, Antigenics, Aveo Show Off Cancer Drug Findings

There were hundreds of companies vying for the attention of 30,000 cancer specialists the past couple days at the American Society of Clinical Oncology meeting in Orlando, FL. Here’s a quick recap of highlights from New England companies that have presented data so far. The conference continues today and tomorrow. —ImmunoGen: The Waltham, MA-based biotech … Continue reading “ASCO Weekend Highlights: ImmunoGen, Antigenics, Aveo Show Off Cancer Drug Findings”

Cricket Refinances Debt and Raises Cash, KESDEE Moves to mLearning from eLearning, Good Technology Buys Intercasting, & More San Diego BizTech News

In the short week after Memorial Day, we got a little European literature with tips on bootstrapping, Medsphere got some venture funding, and Good Technology got a San Diego startup, among other interesting news. —At the San Diego Venture Group’s panel discussion on bootstrapping a business, MaxLinear’s CEO Kishore Seendripu talked defining bootstrapping, which he … Continue reading “Cricket Refinances Debt and Raises Cash, KESDEE Moves to mLearning from eLearning, Good Technology Buys Intercasting, & More San Diego BizTech News”

Infinity Sees Comeback Potential for Cancer Drug that Failed

Infinity Pharmaceuticals isn’t ready to pull the plug on its lead cancer drug candidate after it failed last month in a clinical trial. The Cambridge, MA-based biotech company (NASDAQ: [[ticker:INFI]]) says it sees a way forward with the drug, IPI-504, as long as it switches to a lower dose, and by giving it to patients … Continue reading “Infinity Sees Comeback Potential for Cancer Drug that Failed”

Chinese Boats, Qi Lu, and Competing With Google—A Bing Roundup

Although Microsoft made the official announcement about its new search engine Bing last week, the site won’t be fully functional until this Wednesday.  Here are some tidbits about Bing collected from the Web to tide you over until then. —In his early test drive of Bing, The Seattle Times’ Brier Dudley concluded that the upstart … Continue reading “Chinese Boats, Qi Lu, and Competing With Google—A Bing Roundup”

Boston-Power Asks Feds for $100 Million to Build Better Batteries for Electric Vehicles; Filene’s Basement Warehouse Could Be Reborn as 600-Employee Factory

The coming generation of electric and hybrid gas-electric vehicles will need safer, longer-lasting, faster-charging batteries. Boston-Power—the Westborough, MA-based known up to now mainly for its “green” lithium-ion laptop batteries—wants to supply them, and it’s pursuing federal stimulus money to fuel its bid. At a planned media event today featuring Massachusetts Governor Deval Patrick, the company … Continue reading “Boston-Power Asks Feds for $100 Million to Build Better Batteries for Electric Vehicles; Filene’s Basement Warehouse Could Be Reborn as 600-Employee Factory”

RxVantage Obtains $500,000 New Financing

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=7e0ebc44-4e67-4a69-a90e-9ee55edaa903&Preview=1 Date 6/1/2009 Company Name RxVantage Mailing Address Undisclosed Providence, RI 02918 Company Description RxVantage was founded on the premise that the exchange of knowledge and information between medical & pharmaceutical companies and health care providers is essential for patient care. By bringing much needed efficiency to the systems of information exchange, … Continue reading “RxVantage Obtains $500,000 New Financing”

Seattle Genetics, Inc Receives $11,500,000 New Funding

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=fa9c7dd9-5198-499c-8707-2fe9578ecdda&Preview=1 Date 6/1/2009 Company Name Seattle Genetics, Inc Mailing Address 21823 – 30th Drive S.E. Bothell, WA 98021 Company Description Seattle Genetics, Inc. is a clinical stage biotechnology company focused on the development and commercialization of monoclonal antibody-based therapies for the treatment of cancer and autoimmune disease. Our strategy is to advance … Continue reading “Seattle Genetics, Inc Receives $11,500,000 New Funding”

Topsy.com Lands $15,000,000 New Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=83577f73-ead3-4601-ac51-4aa8641f193b&Preview=1 Date 6/1/2009 Company Name Topsy.com Mailing Address Undisclosed San Francisco, CA 94100 Company Description Topsy is a new kind of search engine, with a new way of looking at the Internet. Topsy doesn’t think the Internet is a collection of documents. Or even a web of documents. Topsy sees the Internet … Continue reading “Topsy.com Lands $15,000,000 New Round”