CTI Loses $4.3M Arbitration

Cell Therapeutics (NASDAQ: [[ticker:CTIC]]), the Seattle-based developer of cancer drugs, said today in a regulatory filing that it lost an arbitration dispute with Irvine, CA-based Spectrum Pharmaceuticals worth $4.3 million. In February, CTI sold its remaining stake in the lymphoma drug ibritumomab tiuxetan (Zevalin) to Spectrum for $16.5 million. In April, Spectrum refused to pay … Continue reading “CTI Loses $4.3M Arbitration”

SiCortex, Out of Cash, Powers Down

SiCortex, a six-year-old startup building energy-efficient supercomputers in Maynard, MA, has shut its doors. The company ran out of working capital and was unable to raise more from its venture investors, according to a report that surfaced yesterday in HPC Wire, a trade publication in the high-performance computing industry. Xconomy obtained confirmation of the shutdown … Continue reading “SiCortex, Out of Cash, Powers Down”

San Diego’s KESDEE Prepares to Move to mLearning

KESDEE calls itself world’s largest eLearning company for money managers. The San Diego company provides state-of-the-art financial education and training for professionals, and it is taking its digital headstart to new levels. KESDEE plans to move its courses to mLearning—as in mobile learning—which means its 700 accredited eLearning courses on such topics as banking, insurance, … Continue reading “San Diego’s KESDEE Prepares to Move to mLearning”

Open Source Biology Movement Co-Founder, Merck’s Eric Schadt, Leaves for New Job

Merck’s Eric Schadt, one of the creative forces in a fledgling effort to start an open-source computing movement for biology, is leaving that role after a couple of months for a new full-time job. Schadt, 44, the executive director of Merck’s Rosetta Inpharmatics division in Seattle, has agreed to become the chief scientific officer for … Continue reading “Open Source Biology Movement Co-Founder, Merck’s Eric Schadt, Leaves for New Job”

Alnara Pharma Completes Key Cystic Fibrosis Drug Trial, “Extremely Encouraged” by Results

Alnara Pharmaceuticals won’t likely reveal the full results of its late-stage clinical trial of enzyme-replacement drug liprotamase in patients with cystic fibrosis until this fall, but the Cambridge, MA-based biotech firm has completed the trial in recent weeks and continues to find the effectiveness of the treatment “extremely encouraging,” Robert Gallotto, chief business office of … Continue reading “Alnara Pharma Completes Key Cystic Fibrosis Drug Trial, “Extremely Encouraged” by Results”

Small & Special

Small & Special is an afternoon event where you can hear a series of talks from the passionate founders of successful small businesses. Come ready to ask them good questions, learn something that may help you start your own business, meet people who share your dream, and be inspired. Info and registration here. Confirmed speakers … Continue reading “Small & Special”

nPost Networking for Tech Startups

Info and registration here. Our events are for tech entrepreneurs, VCs, and Angels to meet and mingle. Note: Please no service providers (Real Estate agents, Brokers, etc). These events are for the tech startup community.

Startups and Silver Linings: Insights from a WTIA Forum Panelist

I had the pleasure of attending the 2009 WTIA Tech Showcase Fast Pitch Forum yesterday. I was one of four panelists tasked with listening, reacting, and asking questions of the 23 Seattle-area companies that each had eight minutes to present. The day was divided up into six one-hour-long sessions, and I’m ashamed to admit I … Continue reading “Startups and Silver Linings: Insights from a WTIA Forum Panelist”

Leap Wireless Out to Raise over $1.3B to Expand, Retire Debt

Plans by former Qualcomm spinout Leap Wireless (NASDAQ: [[ticker:LEAP]]) to raise more than $1.3 billion in debt and loans set off market speculation about potential mergers, although the company says it just plans to retire a credit line and maybe expand its wireless network. Leap disclosed its capital-raising plans late yesterday in a pair of … Continue reading “Leap Wireless Out to Raise over $1.3B to Expand, Retire Debt”

Singing, Dancing, Careful Note-Taking: Students Express Life Science Ideas at Expo

The red blood cells traveled down the vein in their endless journey, moving oxygen and nourishment throughout the body. But some blood cells, thinner, curved, and more rigid were having trouble. They stuck to the blood vessel walls slowing this whole intricate process to a crawl. Actually these weren’t real red blood cells, or veins. … Continue reading “Singing, Dancing, Careful Note-Taking: Students Express Life Science Ideas at Expo”

Genentech Veteran Takes Agios’ Helm, E8 and MIT Take on Navigenics, Genzyme’s Mipomersen Takes Next Step, Alnylam Takes Advantage of Tekmira Technology, & More Boston-Area Life Sciences News

New England’s life sciences firms reported a lot of encouraging clinical-trials news this week. —A cholesterol-lowering drug developed by Cambridge, MA-based Genzyme (NASDAQ: [[ticker:GENZ]]) and Carlsbad, CA-based Isis Pharmaceuticals (NASDAQ: [[ticker:ISIS]]) reached its goals in a pivotal clinical trial. Genzyme intends to apply for approval of the drug, called mipomersen, first in a small population … Continue reading “Genentech Veteran Takes Agios’ Helm, E8 and MIT Take on Navigenics, Genzyme’s Mipomersen Takes Next Step, Alnylam Takes Advantage of Tekmira Technology, & More Boston-Area Life Sciences News”

Proteon Therapeutics Inc. Garners $12,000,000 Series B Financing Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=a4ec505d-bc5c-41ea-9428-3e30cb470441&Preview=1 Date 5/28/2009 Company Name Proteon Therapeutics Inc. Mailing Address 200 West Street Waltham, MA 02451 Company Description Proteon Therapeutics is a biopharmaceutical company developing PRT-201, a novel human recombinant protein that permanently dilates segments of blood vessels, blocks vasospasm, and reduces the formation of vascular scarring. Website http://www.proteontherapeutics.com Transaction Type Venture … Continue reading “Proteon Therapeutics Inc. Garners $12,000,000 Series B Financing Round”

X1 Technologies, Inc Receives New Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=71e48a96-347f-42da-8d15-bcc26cd3f955&Preview=1 Date 5/28/2009 Company Name X1 Technologies, Inc Mailing Address 130 W. Union St. Pasadena, CA 91103 Company Description The core of the X1 Technologies solution, which is protected by five pending patents, uses a proprietary method for indexing the content of every email, attachment and file on a business user’s hard … Continue reading “X1 Technologies, Inc Receives New Round”

GreenRoad Lands $15,000,000 New Financing

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=954d9b04-58f4-4f9e-b3f1-74e15b6536d1&Preview=1 Date 5/28/2009 Company Name GreenRoad Mailing Address 3 Twin Dolphin Drive Redwood Shores, CA 94065 Company Description GreenRoad develops driver safety and risk management technologies that reduce accident rates and lower costs. Our solutions empower drivers to manage their own safety by giving instantaneous, in-vehicle feedback—without privacy invasions. As a result, … Continue reading “GreenRoad Lands $15,000,000 New Financing”

The Future of Software and Internet UnConference

Will any of us still be using Twitter in 10 years? Ponder this question with other software industry wonks at the spring meeting of the Massachusetts Technology Leadership Council. This “unconference,” more of a participant-driven dialogue than a structured forum, will focus on where trends in software might lead in the next decade. Cloud computing, … Continue reading “The Future of Software and Internet UnConference”

Top 5 Takeaways on Innovation and Entrepreneurship from Tim Draper of DFJ

On a gloriously sunny Seattle afternoon, venture capitalist Tim Draper stopped by to impart some words of wisdom. The founder and managing director of Silicon Valley-based Draper Fisher Jurvetson gave the keynote today at the Washington Technology Industry Association’s Fast Pitch Forum & Technology Showcase down at the Bell Harbor conference center. He was hosted … Continue reading “Top 5 Takeaways on Innovation and Entrepreneurship from Tim Draper of DFJ”

Amylin’s Dissident Shareholders Gain Influence on Board

Two dissident shareholder groups have succeeded in electing two new directors to the board of San Diego’s Amylin Pharmaceuticals, (NASDAQ: [[ticker:AMLN]]), according to the company and one of the shareholder groups. In a statement issued today, Eastbourne Capital Management of San Rafael, CA, says, “based on voting estimates from its proxy solicitor,” it appears that … Continue reading “Amylin’s Dissident Shareholders Gain Influence on Board”

Latest Metabasis Cutbacks Leave Just Seven Employees

San Diego-based diabetes drug developer Metabasis Therapeutics (NASDAQ: [[ticker:MBRX]]) laid off 35 of its 125 employees in November, and another 38 in January. Those cutbacks amounted to 28 percent and 43 percent of the biotech’s workforce, respectively. At that time, new CEO Mark Erion said he was optimistic the diabetes drug, MB07803, would lead to … Continue reading “Latest Metabasis Cutbacks Leave Just Seven Employees”

Honoring Catalysts For Girls’ Science Education

In the 1960s, there weren’t many role models a little black girl interested in science could relate to. As a child, Evelynn Hammonds, who would become the first black female Dean of Harvard College, looked up to the Lt. Uhura character from Star Trek. Today’s generation, said the dean, will have slightly more realistic women … Continue reading “Honoring Catalysts For Girls’ Science Education”

Bakbone Pays $7.8M of Stock for Coldspark

[[Correction: We originally reported that Bakbone raised $7.8 million in new equity, but a closer read of a footnote in the regulatory filing shows Bakbone is issuing stock worth that amount as part of its acquisition of Coldspark. We apologize for the error.]] Bakbone Software, the San Diego-based maker of data backup and recovery products, … Continue reading “Bakbone Pays $7.8M of Stock for Coldspark”

$500K for 1000 Markets

Seattle-based 1000 Markets, an online community of marketplaces for niche products and artisan crafts, has raised $503,739 in new funding, according to a regulatory filing. The investors were not disclosed. 1000 Markets competes with Etsy and eBay, and plays in a similar e-commerce space as Kirkland, WA-based Bonanzle (profiled here last month).

Scenic Technology Raises $1.4M

Needham, MA-based Scenic Technology has raised $1.4 million in new funding out of a planned $2.1 equity round, according to documents filed with the Securities and Exchange Commission. The company makes Microsoft .NET-based software for tracking barcodes and RFID tags on items moving through warehouses.

Crosscheck Acquires Forum Systems

Crosscheck Networks of Waltham, MA, said today that it has acquired Forum Systems, also of Waltham. Crosscheck makes a simulation environment that allows software companies to test Web-based applications before they’re deployed; Forum Systems makes a gateway appliance that provides security and authentication services for Web-based software. As a result of the acquisition (the financial … Continue reading “Crosscheck Acquires Forum Systems”

Good Technology Acquires Intercasting

San Diego-based mobile social networking firm Intercasting has been acquired by Redwood City, CA-based push mobility firm Good Technology. Terms of the agreement were not disclosed. Intercasting’s Anthem platform is used by numerous carriers, including Alltel, AT&T, Boost Mobile, Sprint, T-Mobile, Verizon Wireless, and Virgin Mobile USA.

Big Huge Acquisition for 38 Studios Will Boost Its Copernicus Project

38 Studios, the Maynard, MA-based video game company founded by Boston Red Sox star Curt Schilling, has filled a gap in its lineup. The company said today that it has nearly doubled its size by acquiring Big Huge Games, a Maryland-based company that’s behind such role-playing and strategy games as Rise of Nations and Age … Continue reading “Big Huge Acquisition for 38 Studios Will Boost Its Copernicus Project”

Ophthonix Raises $25.9M for Vision-Correction Technology

Vista, CA-based vision correction company Ophthonix has closed a $25.9 million “Series AA” financing round. According to a press release the company’s current investors Kleiner Perkins Caufield & Byers, Enterprise Partners, DAG Ventures, Gund Investment Corporation, InterWest Partners, Trex Enterprises, and Wasath Advisors’ Cross Creek Capital Fund participated, in addition to a new, undisclosed investor. … Continue reading “Ophthonix Raises $25.9M for Vision-Correction Technology”

Clarian Technologies Aims to Take Financial Sting Out of Wind Power with Jellyfish Turbine

[Updated with comments from Kelly Jo MacArthur on page 2] In recent years, we have seen an explosion of alternative energy devices, yet most of these technologies remain out of the reach of the average homeowner. To outfit your roof with solar panels, you’d probably be out $10,000 to $20,000 as an initial investment. Clarian … Continue reading “Clarian Technologies Aims to Take Financial Sting Out of Wind Power with Jellyfish Turbine”

CombinatoRx Diabetes Drug Shows Promise

CombinatoRx (NASDAQ:[[ticker:CRXX]]) reports that its Type 2 diabetes treatment, a combination of bezafibrate and diflunisal, provided statistically significant reduction in blood sugar levels and other benefits in a mid-stage clinical trial. It’s a bit of good news for Cambridge, MA-based CombinatoRx after it revealed last October that its lead arthritis drug failed in a Phase … Continue reading “CombinatoRx Diabetes Drug Shows Promise”

Agios Lands Genentech Cancer Drug Leader as New CEO

Agios Pharmaceuticals has landed a big fish in the world of cancer drug development. The Cambridge, MA-based company has hired David Schenkein, the senior vice president in charge of cancer drug development at Genentech, to be its first permanent CEO, starting in August. He will replace Kevin Starr, a partner with Third Rock Ventures, who … Continue reading “Agios Lands Genentech Cancer Drug Leader as New CEO”

OutSmart Power Systems Wraps Up $2M Seed Round

OutSmart Power Systems, a Natick, MA-based startup developing systems to monitor and manage energy usage and other activities in commercial buildings, says it has closed a $2 million seed round of financing. The financing round, the first part of which was raised last year, included contributions from Bainco International Investors in Wellesley, MA, Northeastern U.S. … Continue reading “OutSmart Power Systems Wraps Up $2M Seed Round”

Amylin Shareholders Vote Today in Battle to Influence Board

[[Editor’s note: Updated today at 10:55 am PT]] A shareholder vote that could influence the course of San Diego’s Amylin Pharmaceuticals has been completed, but results of the board election were not released during the meeting today. “We do not have an indication [of the outcome] at this time,” Amylin chairman Joseph Cook told shareholders … Continue reading “Amylin Shareholders Vote Today in Battle to Influence Board”

Vertex Starts Pivotal CF Trials

Vertex Pharmaceuticals (NASDAQ: [[ticker:VRTX]]), the Cambridge, MA-based biotech company which has significant operations in San Diego, said today it has started a pivotal clinical trial program for its drug candidate for cystic fibrosis, a genetic lung disease. The company is running a series of three trials of VX-770, a drug that aims to be the … Continue reading “Vertex Starts Pivotal CF Trials”

Fate Therapeutics Starts First Clinical Trial of Drug to Boost Stem Cell Transplants

Fate Therapeutics plans to announce this morning that it has begun its first clinical trial of a drug built on its knowledge of stem cell biology. Rather than injecting certain kinds of adult stem cells to regenerate tissues, this treatment involves a conventional small-molecule drug that’s designed to spur growth of blood-forming stem cells that … Continue reading “Fate Therapeutics Starts First Clinical Trial of Drug to Boost Stem Cell Transplants”

David M. Bodine Q&A: Making Progress on Gene Therapy, Despite Targeted Genetics’ Woes

The 2,000 members of the American Society of Gene Therapy meet in San Diego this week at an auspicious moment. Scientists from around the globe will present encouraging research on the use of gene therapy for a broad range of illnesses, including a rare hereditary blindness and cancer. But to the north in Seattle, as … Continue reading “David M. Bodine Q&A: Making Progress on Gene Therapy, Despite Targeted Genetics’ Woes”

Genologics Aims to Turn Patient Records, Genome Data into Something Biologists Can Use

A little company on Vancouver Island has its sights set on one of the big challenges of the day in healthcare software. It is trying to piece together the vast puzzle of data on human health—everything from patient medical records, tissue or blood sample readings from the lab, and genomic data—and package it all in … Continue reading “Genologics Aims to Turn Patient Records, Genome Data into Something Biologists Can Use”

Visible Measures Rides Susan Boyle’s Coattails to Viral Video Fame, But It’s Got Something Even Bigger Planned

If you followed news articles mentioning Visible Measures, you might get the impression that the Boston startup’s technology is devoted entirely to tracking viral Web videos. An article in Sunday’s New York Times, for example, cited Visible Measures’ statistics on singing sensation Susan Boyle; it turns out that clips of her performances on “Britain’s Got … Continue reading “Visible Measures Rides Susan Boyle’s Coattails to Viral Video Fame, But It’s Got Something Even Bigger Planned”

Scenic Technology Receives $1,400,000 New Financing Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=0dc43850-d33c-4612-98eb-3857b0901b3d&Preview=1 Date 5/27/2009 Company Name Scenic Technology Mailing Address Undisclosed Needham, MA 02492 Company Description Scenic is both a technology firm and acquisition firm specializing in supply chain execution software, connectivity technology, consulting and implementation services.In addition to the sce-Star Suite™, and the associated services, Scenic offers clients IT consulting, development, support … Continue reading “Scenic Technology Receives $1,400,000 New Financing Round”

Celtra Inc Lands $1,200,000 Series A Financing Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=c23809e9-f91d-4061-ad43-4c875b9ba303&Preview=1 Date 5/27/2009 Company Name Celtra Inc Mailing Address One Broadway, 14th Floor Cambridge, MA 02142 Company Description Our mission is to provide a unique Software-as-a-Service platform for online and mobile marketing convergence, which enables brands and marketing agencies to take advantage of social communities’ engagements and extend them into the mobile … Continue reading “Celtra Inc Lands $1,200,000 Series A Financing Round”

TeachStreet, Inc Lands $1,200,000 New Funding Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=7722d5fa-3f88-4a7d-a954-810941c6d7d2&Preview=1 Date 5/27/2009 Company Name TeachStreet, Inc Mailing Address 2101 9th Avenue Seattle, WA 98121 Company Description Our goal is to encourage life-long learning by connecting inquiring minds with inspiring instructors via an insanely easy-to-use website. We’re creating an effortless way for curious folks to find great local instructors (whether they want … Continue reading “TeachStreet, Inc Lands $1,200,000 New Funding Round”

1000 Markets Obtains $503,739 New Funding

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=a948c8fe-321f-416d-b309-8fc08a2a7229&Preview=1 Date 5/27/2009 Company Name 1000 Markets Mailing Address Undisclosed Seattle, WA 98104 Company Description Our markets are more than just collections of products; they are full of people and stories. They have voices and personalities.Our merchants are small, independent, artisan businesses built by people who love their craft. They make and … Continue reading “1000 Markets Obtains $503,739 New Funding”

Ophthonix Inc Lands $25,900,000 Series A Funding Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=f6472aa1-4831-4124-918d-915a85de469c&Preview=1 Date 5/27/2009 Company Name Ophthonix Inc Mailing Address 1491 Poinsettia Avenue Vista, CA 92081 Company Description Ophthonix Inc., a developer and marketer of advanced eyeglass lenses. The lenses aim to mimic the vision improvements rendered by the popular Lasik surgical procedure. Website http://www.izonlens.com Transaction Type Venture Equity Transaction Amount $25,900,000 Transaction … Continue reading “Ophthonix Inc Lands $25,900,000 Series A Funding Round”

CardiAQ Valve Technologies, Inc Lands $7,500,000 New Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=946a26cd-15ca-4f5c-8f45-947bc98cbc17&Preview=1 Date 5/27/2009 Company Name CardiAQ Valve Technologies, Inc Mailing Address Undisclosed Winchester, MA 01890 Company Description CardiAQ Valve Technologies (CVT), a privately held company founded by heart surgeon Dr. Arshad Quadri, is developing innovative approaches to heart valve replacement and is initially focused on percutaneous mitral valve replacement (PMVR).There are more … Continue reading “CardiAQ Valve Technologies, Inc Lands $7,500,000 New Round”

E-Band Communications Corporation Obtains Series C Financing Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=a538b553-9261-428b-bbf4-0f906fef366c&Preview=1 Date 5/27/2009 Company Name E-Band Communications Corporation Mailing Address 10095 Scripps Ranch Ct. San Diego, CA 92131 Company Description EBCC designs and manufactures multi-gigabit capacity wireless communication systems based on 71-86GHz millimeter-wave radio technology. We are using highly integrated microwave monolithic integrated circuit (MMIC) technology that enables EBCC to manufacturer highest … Continue reading “E-Band Communications Corporation Obtains Series C Financing Round”

Mark Logic Corporation Receives $12,500,000 New Financing Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=ce66c290-353c-48c4-a4a2-53042ed57579&Preview=1 Date 5/27/2009 Company Name Mark Logic Corporation Mailing Address 999 Skyway Road San Carlos, CA 94070 Company Description Mark Logic Corporation is the provider of the industry’s leading XML content server. Mark Logic works with providers of information products to accelerate new product creation, deliver products through multiple channels, integrate content … Continue reading “Mark Logic Corporation Receives $12,500,000 New Financing Round”

Osprey Pharmaceuticals Receives $3,800,000 Series A Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=872d4a3a-cdaf-4d34-a6f3-68f6838a2170&Preview=1 Date 5/27/2009 Company Name Osprey Pharmaceuticals Mailing Address 425 California Street San Francisco, CA 94104 Company Description Osprey Pharmaceuticals USA, together with its Montreal, Canada partner, Osprey Pharmaceuticals, Ltd., is developing a series of novel fusion protein therapeutics which selectively target and neutralize activated leukocytes that are implicated in a variety … Continue reading “Osprey Pharmaceuticals Receives $3,800,000 Series A Round”

UltraCell Corporation Lands $3,800,000 New Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=a0859ae2-181d-4641-bfa9-ad7bf9044865&Preview=1 Date 5/27/2009 Company Name UltraCell Corporation Mailing Address 399 Lindbergh Avenue Livermore, CA 94551 Company Description UltraCell develops and manufactures complete micro fuel cell systems for portable devices. The company has developed new technologies and intellectual property in the field of methanol-based fuel cells. Website http://www.ultracellpower.com Transaction Type Venture Equity Transaction … Continue reading “UltraCell Corporation Lands $3,800,000 New Round”

Entrepreneurship in the Age of Cloud Computing

Intuit’s Waltham, MA, office hosts an afternoon-long event at Bentley University that will bring together industry experts and successful startups to share advice on the range of issues faced by startups considering turning to cloud computing for their business’s IT infrastructures. Featured speakers include Intuit co-founder Scott Cook, Longworth Venture Partners analyst Vishy Venugopalan, and … Continue reading “Entrepreneurship in the Age of Cloud Computing”