Ramgen Power Gets $20M, Best Buy Backs Dashwire, WildTangent Teams Up With Mochi, & More Seattle-Area Deals News

It was a relatively busy week in the Northwest, with lots of little deals in biotech, software, mobile, and gaming, and one big deal in cleantech. We’ll see if the pace quickens before the unofficial start of summer… —Luke reported that Redmond, WA-based CoAptus Medical, maker of a catheter device for sealing up heart defects, … Continue reading “Ramgen Power Gets $20M, Best Buy Backs Dashwire, WildTangent Teams Up With Mochi, & More Seattle-Area Deals News”

RunMyErrand Is fbFund Finalist

RunMyErrand, a Boston-based “service networking” startup profiled here in February, is among an initial group of 25 finalists announced by Facebook yesterday for the company’s annual fbFund competition. The fbFund program is designed to provide seed funding for Web startups whose applications or services connect to the Facebook platform. As a finalist, RunMyErrand will receive … Continue reading “RunMyErrand Is fbFund Finalist”

Today’s XSITEing News: Beer and Prizes

Signing up for XSITE 2009, Xconomy’s Summit on Innovation, Technology, and Entrepreneurship on June 24, ensures your access to the biggest showcase of New England technological ingenuity on either side of the Charles. Signing up early has even more benefits—and by benefits, I mean beer. And prizes. That’s because the first 50 paid registrants to … Continue reading “Today’s XSITEing News: Beer and Prizes”

Science Club for Girls’ 15th Anniversary Celebration and Catalyst Award Ceremony

Our friends at the Science Club for Girls are celebrating and honoring Catalyst Awardees Dean Evelynn Hammonds, Harvard College, and Larisa Schelkin, DOME Foundation, for their efforts to increase diversity in scientific fields. (SCFG was a beneficiary of our own fundraising at Xconomy’s Battle of the Tech Bands 2.) Join them and network with Susan … Continue reading “Science Club for Girls’ 15th Anniversary Celebration and Catalyst Award Ceremony”

A Blow to the Boston VC Scene? Greylock Partners Moving HQ to Silicon Valley

Here’s a minor setback for the venture capital industry in Boston. Greylock Partners is relocating its headquarters from the Boston area—where it got started 44 years ago—to Silicon Valley, the firm announced this morning. Does this mean that the Hub is losing its edge as a haven of entrepreneurial activity? That was the question raised … Continue reading “A Blow to the Boston VC Scene? Greylock Partners Moving HQ to Silicon Valley”

Presage, Fred Hutch Spinoff, Aims to Show Docs Which Cancer Drugs Work, and Which Won’t

Cancer drugs make almost everyone sick as a dog from toxic side effects, yet they have a hit-or-miss record when it comes to killing cancer cells. Jim Olson is a pediatric oncologist, so he’s well aware of the suffering and waste created by this approach. He prescribes these nasty toxins for young kids with only … Continue reading “Presage, Fred Hutch Spinoff, Aims to Show Docs Which Cancer Drugs Work, and Which Won’t”

Paragon Lake Out to Dazzle Jewelry Buyers with Virtual Customization

You could say that her love of jewelry brought Deborah Besemer out of early retirement. But while that might have a certain, shall we say, ring of truth to it, it’s really only one facet of the story. There were other, more important factors, such as the opportunity to challenge herself in a new arena … Continue reading “Paragon Lake Out to Dazzle Jewelry Buyers with Virtual Customization”

Concerro and Hospitals: How Job-Bidding Software Enables Savings

“Healthcare is such a mess,” sighs Graham Barnes, the CEO of San Diego-based Concerro. “It was supposed to be recession-proof. It wasn’t. But we can save them a lot of money, as we have a great story also in this economy.” Concerro was founded in 2002 as BidShift, a software developer that specializes in Web … Continue reading “Concerro and Hospitals: How Job-Bidding Software Enables Savings”

San Diego’s Acadia Awaits Parkinson’s Trial Results (and a Chance to Prove Naysayers Wrong)

One thing is clear to Uli Hacksell, chief executive of San Diego’s Acadia Pharmaceuticals (NASDAQ: [[ticker:ACAD]]): the market just doesn’t understand his company. Just a couple of weeks ago, the life sciences startup got a strong vote of confidence from Canada’s Biovail, which paid $30 million upfront as part of a deal to develop a promising drug … Continue reading “San Diego’s Acadia Awaits Parkinson’s Trial Results (and a Chance to Prove Naysayers Wrong)”

Icahn Wants to Fix Amylin First, Not Sell on the Cheap, Alex Denner Says

Carl Icahn didn’t become a billionaire by buying stocks high, and selling them low. So he isn’t looking to quickly flip San Diego-based Amylin Pharmaceuticals (NASDAQ: [[ticker:AMLN]]) if he and other dissident shareholders gain control of a few board seats. “Our plan is not to sell the company,” said Alex Denner, a portfolio manager for … Continue reading “Icahn Wants to Fix Amylin First, Not Sell on the Cheap, Alex Denner Says”

Dr. Sue Skates Where the Puck is Heading in Life Sciences–Waltham

The woman who runs the 10-year, $1 billion initiative to spur life sciences in Massachusetts has set up her office in Waltham, MA, about a 30-minute drive from one of the world’s leading and most famous clusters of biotech— Kendall Square in Cambridge. And she’s out there for a reason. This was one of the … Continue reading “Dr. Sue Skates Where the Puck is Heading in Life Sciences–Waltham”

Behind the Scenes of the MIT $100K: Leveraging 20 Years of History in 6 Months

Running the MIT $100K Entrepreneurship Competition is a lot like running a startup. We spend most of our time raising money. We are underpaid (in fact, we aren’t paid). Day or night, weekday or weekend, the job never really stops. There is very little formal authority (meaning our team has no real reason to listen … Continue reading “Behind the Scenes of the MIT $100K: Leveraging 20 Years of History in 6 Months”

Glympse of a Stealthy Startup: Ex-Microsofties Roll Out Location-Based Mobile Service

Tired of hearing your airline seatmates blab on their cellphones just to tell people “I’m on the plane,” or “I’ve just landed”? Sick of texting “Where are you?” when you’re trying to meet up with friends, or when a family member is stuck in traffic? Then Bryan Trussel, an ex-Microsoft veteran turned entrepreneur, has a … Continue reading “Glympse of a Stealthy Startup: Ex-Microsofties Roll Out Location-Based Mobile Service”

GreenBytes Secures $7,500,000 New Funding Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=f25f7ac4-1332-4656-92d0-fb821cc5d646&Preview=1 Date 5/19/2009 Company Name GreenBytes Mailing Address Hopkinton Industrial Park, 15 Gray Lane Ashway, RI 02804 Company Description GreenBytes is the most efficient data storage system on the market today. An ultra high-efficiency NAS. Website http://www.green-bytes.com/ Transaction Type Venture Equity Transaction Amount $7,500,000 Transaction Round Undisclosed Proceeds Purposes Proceeds purposes were … Continue reading “GreenBytes Secures $7,500,000 New Funding Round”

CoAptus Medical Corporation Lands $3,000,000 New Financing

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=93ea2f94-7499-446e-9816-d4e71b223553&Preview=1 Date 5/19/2009 Company Name CoAptus Medical Corporation Mailing Address 14963 NE 95th ST Redmond, WA 98052 Company Description CoAptus Medical Corporation is an early stage medical device company developing a therapeutic product for the treatment of a structural heart defect called a patent foramen ovale, or PFO. A PFO is a … Continue reading “CoAptus Medical Corporation Lands $3,000,000 New Financing”

Elixir Pharmaceuticals Obtains $12,000,000 New Financing

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=01059ba1-bae0-45f6-a9f6-045a50e4b3e5&Preview=1 Date 5/19/2009 Company Name Elixir Pharmaceuticals Mailing Address 12 Emily Street Cambridge, MA 02139 Company Description Elixir Pharmaceuticals is a genomics-based drug discovery company developing a new category of pharmaceuticals that treat and/or prevent the broad spectrum of diseases that accompany aging. Website http://www.elixirpharm.com Transaction Type Venture Equity Transaction Amount $12,000,000 … Continue reading “Elixir Pharmaceuticals Obtains $12,000,000 New Financing”

Qteros Garners New Funding

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=3d02c086-7d13-45fc-833d-64e5c23c0846&Preview=1 Date 5/19/2009 Company Name Qteros Mailing Address 100 Venture Way Hadley, MA 01035 Company Description Qteros began in 1996 with a walk near the Quabbin Reservoir in Western Massachusetts. University of Massachusetts microbiologist Dr. Susan Leschine and her lab assistant, Tom Warnick, were looking for a microbe that breaks down plant … Continue reading “Qteros Garners New Funding”

Fulham Co Inc Lands $10,000,000 New Funding

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=10c7c4a6-736d-4ea5-8701-406f2df49d35&Preview=1 Date 5/19/2009 Company Name Fulham Co Inc Mailing Address 12705 South Van Ness Ave Hawthorne, CA 90250 Company Description Today, with two factories in China, sales offices in Hong Kong, USA, Taiwan and Japan and customers in 32 countries – Fulham has grown to become one of the leading suppliers of … Continue reading “Fulham Co Inc Lands $10,000,000 New Funding”

Unity Semiconductor Corporation Obtains $22,000,000 Series C Funding Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=6158e3cf-758a-4f16-8ae2-5914b87ef6c8&Preview=1 Date 5/19/2009 Company Name Unity Semiconductor Corporation Mailing Address 255 Santa Ana Court Sunnyvale, CA 94085 Company Description The company is developing memory technology. Website http://www.unitysemi.com Transaction Type Venture Equity Transaction Amount $22,000,000 Transaction Round Series C Proceeds Purposes Proceeds purposes were not disclosed. M&A Terms Venture Investor August Capital Venture … Continue reading “Unity Semiconductor Corporation Obtains $22,000,000 Series C Funding Round”

Satiety Receives $7,500,000 New Financing

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=2e7d0d90-56e6-4b75-a701-f3f1bff64c29&Preview=1 Date 5/19/2009 Company Name Satiety Mailing Address 2470 Embarcadero Way Palo Alto, CA 94303 Company Description Satiety, Inc. was founded in 2001 through a collaboration of medical device incubators Thomas Fogarty Engineering and The Foundry, and is headquartered in Palo Alto, California. Website http://www.satietyinc.com Transaction Type Debt Transaction Amount $7,500,000 Transaction … Continue reading “Satiety Receives $7,500,000 New Financing”

CellCyte Settles SEC Investigation

CellCyte Genetics, the Bothell, WA-based biotech company, has tentatively agreed to a settlement of a yearlong investigation by the Securities and Exchange Commission. The company entered a consent decree in which it will neither admit nor deny any wrongdoing, according to its annual report. The company hasn’t disclosed the nature of the investigation, although its … Continue reading “CellCyte Settles SEC Investigation”

Archus Orthopedics, Spine Device Maker, Cuts Jobs Amid Financing Squeeze

Archus Orthopedics, the Redmond, WA-based company developing spinal implants to help people remain mobile after back surgery, has laid off most of its 45 employees and significantly scaled back its operations to conserve its remaining cash, Xconomy has learned. The news has surprised many in the Seattle medical device industry, because Archus has a strong … Continue reading “Archus Orthopedics, Spine Device Maker, Cuts Jobs Amid Financing Squeeze”

Qualcomm Launches Mobile Retail App Store

Taking a cue from the success of Apple’s App Store, San Diego wireless giant Qualcomm (NASDAQ: [[ticker:QCOM]]) said today it is opening its own suite of mobile software solutions and expanding its online retail site for mobile subscribers. Qualcomm says its Plaza Retail, rather than targeting a single platform, gives online publishers and developers the … Continue reading “Qualcomm Launches Mobile Retail App Store”

Knome Offers Thriftier Gene Sequencing

Knome, a personal genomics startups located in Cambridge, MA, announced today the launch of its newest product, a partial genome sequencing package called KnomeSELECT. The service will cost $24,500 for individuals, but is discounted to $19,500 per person for couples and family groups. The firm’s more comprehensive whole-genome sequencing service, KnomeCOMPLETE, costs $99,000. Rather than … Continue reading “Knome Offers Thriftier Gene Sequencing”

Amylin Dissidents Win More Support

Two more firms that advise shareholders on proxy voting—Glass, Lewis & Co. and Proxy Governance—have recommended shareholders of Amylin Pharmaceuticals (NASDAQ: [[ticker:AMLN]]) throw their support behind dissident directors nominated by Eastbourne Capital and billionaire investor Carl Icahn. Glass Lewis is recommending shareholders vote for three of the five dissidents nominated to the 12-member board, while … Continue reading “Amylin Dissidents Win More Support”

FDA OKs Risperdal Consta for Bipolar

Alkermes, the Cambridge, MA-based developer of technology to make longer-lasting drugs, said today the FDA has approved risperidone (Risperdal Consta) as a treatment for bipolar disorder. The medicine, first approved in 2003 as a long-acting drug for schizophrenia, is marketed by Johnson & Johnson using technology from Alkermes (NASDAQ: [[ticker:ALKS]]). Before today’s approval, the medicine … Continue reading “FDA OKs Risperdal Consta for Bipolar”

Amylin Co-Founder Ted Greene Explains His Switch in Proxy Battle

Big proxy battles, like the one unfolding at San Diego’s Amylin Pharmaceuticals, have become much like national political campaigns. There’s a media strategy. There are carefully choreographed events. There are war rooms on both sides. When dissident shareholder Eastbourne Capital Management submitted its filing “Amylin Pharmaceuticals: The Case for Change” to the SEC on May … Continue reading “Amylin Co-Founder Ted Greene Explains His Switch in Proxy Battle”

Werner Vogels of Amazon on the Future of the Cloud—Quick Hits from OVP Tech Summit

There was a lot of discussion about the top trends in energy, biotech, and computing at last week’s technology summit in Seattle hosted by OVP Venture Partners. The afternoon breakout session on information technology, attended by a few dozen IT leaders, focused on the theme of “big data.” This was all about the opportunities and … Continue reading “Werner Vogels of Amazon on the Future of the Cloud—Quick Hits from OVP Tech Summit”

NKT Therapeutics Aims For Severe Asthma, Targeting Natural Killer T Cells

Even though many venture firms are scrimping, there’s hope for biotech startups in search of capital to fund bold new areas of biological research. NKT Therapeutics, which revealed its $8 million first-round financing in March, has rallied venture capitalists to back its efforts to develop drugs that target lesser-known immune cells that potentially play key … Continue reading “NKT Therapeutics Aims For Severe Asthma, Targeting Natural Killer T Cells”

Bionavitas Pursues Algae Dream in Food Additives, Toxic Cleanup—Then Maybe Biofuel

When most entrepreneurs think of algae, they think of its potential to churn out renewable biofuels. But Bionavitas wants you to think first about dietary supplements. It also has its sights set on cleaning up toxic byproducts from polluters. There are fascinating scientific and economic reasons why the Redmond, WA-based company has crafted this strategy. … Continue reading “Bionavitas Pursues Algae Dream in Food Additives, Toxic Cleanup—Then Maybe Biofuel”

ID Analytics Offers Consumers Free Online Check-Up for Identity Theft

San Diego-based ID Analytics is launching a free online test that measures the vulnerability of individual consumers to identity theft.  The test, called My ID Score, makes use of the same huge database and analytical software technology that ID Analytics uses to rank the probability that credit card purchases and other transactions are authentic. The … Continue reading “ID Analytics Offers Consumers Free Online Check-Up for Identity Theft”

Slacker Gets Funding, Daylight Solutions Gets the Military Interested in its Laser Technology, Startup CEOs Get Survival Advice, and More San Diego BizTech News

One of San Diego’s technology startups made an acquisition, and another got a secondary round of venture funding last week. That might not signify the end of the downturn for San Diego’s venture-backed companies, but they were welcome developments nevertheless. Meanwhile, entrepreneurs in San Diego’s technology sector got lots of survival advice. —Our timing made us look prescient this … Continue reading “Slacker Gets Funding, Daylight Solutions Gets the Military Interested in its Laser Technology, Startup CEOs Get Survival Advice, and More San Diego BizTech News”

With Depeche Mode iPhone App, Cambridge’s iZotope Boosts the Mobile Drumbeat

Last week I learned about a local music software company, iZotope, whose existence somehow escaped me back in 2007 when I was writing my story “Boston: The Hidden Hub of Music and Technology.” But the Cambridge, MA-based company has been making professional audio production software and digital signal processing hardware since 2001, and has gained … Continue reading “With Depeche Mode iPhone App, Cambridge’s iZotope Boosts the Mobile Drumbeat”

Back to Work and Flipping Cheeseburgers—A $100K Winner’s Tale

Well, here I am again, as promised. Yes, winning the $100K is exactly as you imagine it: limo rides, overflowing bottles of champagne, invitations to smoke-filled back rooms, and high-stakes poker games. Very high-stakes poker games. And you know, you really can’t fit that big check into an ATM. But I’ll talk about that at … Continue reading “Back to Work and Flipping Cheeseburgers—A $100K Winner’s Tale”

Avila Therapeutics, Inc. Garners $5,000,000 New Funding Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=f8f5d454-4281-45ec-bfac-843c5a44b026&Preview=1 Date 5/18/2009 Company Name Avila Therapeutics, Inc. Mailing Address 100 Beaver Street Waltham, MA 02453 Company Description Avila Therapeutics, Inc., is a venture-backed company focused on the discovery and development of novel small molecule therapeutics to address significant unmet clinical needs with an initial focus on cancer and viral diseases. Website … Continue reading “Avila Therapeutics, Inc. Garners $5,000,000 New Funding Round”

Hyperion Therapeutics Lands $13,000,000 New Financing

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=54ada9c7-e0c7-41f9-9c81-20188c2a26ab&Preview=1 Date 5/18/2009 Company Name Hyperion Therapeutics Mailing Address 601 Gateway Blvd South San Francisco, CA 94080 Company Description Hyperion Therapeutics, Inc. is a privately held specialty biopharmaceutical company dedicated to improving patients’ lives through the development and commercialization of therapies that address critical unmet needs and underserved patient populations. The Company’s … Continue reading “Hyperion Therapeutics Lands $13,000,000 New Financing”

StockTwits Garners $800,000 Series A Funding

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=e2c1a63d-5e44-4cbd-b8e4-53359ee8419c&Preview=1 Date 5/18/2009 Company Name StockTwits Mailing Address 1036 Bayview Avenue Oakland, CA 94600 Company Description StockTwits is an open, community-powered idea and information service for investments. Users can eavesdrop on traders and investors, or contribute to the conversation and build their reputation as savvy market wizards. The service takes financial related … Continue reading “StockTwits Garners $800,000 Series A Funding”

UserVoice Garners $800,000 Series A Funding Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=53991b93-c421-4d93-ab2f-577283325c07&Preview=1 Date 5/18/2009 Company Name UserVoice Mailing Address 101 Cooper St Santa Cruz, CA 95060 Company Description On other projects we were left frustrated and overwhelmed when trying to grasp what our users really wanted. Unorganized inboxes and clogged ticket systems ruled the day. Forums were awash with duplication, user support was … Continue reading “UserVoice Garners $800,000 Series A Funding Round”

VoxPop Network Corporation Obtains $1,500,000 Series B Funding Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=d6232dc2-490c-47e8-b794-ce47f3975dce&Preview=1 Date 5/18/2009 Company Name VoxPop Network Corporation Mailing Address Pier 9 San Francisco, CA 94111 Company Description VoxPop Network Corporation is an online entertainment company. Website http://www.voxpop.tv Transaction Type Venture Equity Transaction Amount $1,500,000 Transaction Round Series B Proceeds Purposes Proceeds purposes were not disclosed. M&A Terms Venture Investor Hearst Interactive … Continue reading “VoxPop Network Corporation Obtains $1,500,000 Series B Funding Round”

Acquires CITTIO for Undisclosed Sum

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=d480ada8-81e4-4c4f-b830-8efd1a6b0adf&Preview=1 Date 5/18/2009 Company Name CITTIO Mailing Address 667 Mission St. 4th Floor San Francisco, CA 94105 Company Description CITTIO’s flagship product, is an enterprise Network and System Monitoring software application that runs within a Web-based portal environment. The WatchTower solution enables companies to increase IT productivity, efficiently manage distributed systems, reduce … Continue reading “Acquires CITTIO for Undisclosed Sum”

Xori Gets $2.1M From Accelerator

The latest biotech startup from Seattle-based Accelerator, Xori, has received $2.1 million out of a $4.5 million financing round, according to a regulatory filing. The company (pronounced Chore-ee) is testing technology from the lab of Nancy Maizels at the University of Washington, which seeks to develop antibody drugs through a new technique in genetically modified … Continue reading “Xori Gets $2.1M From Accelerator”

Amylin Dissidents Ought to Win Proxy Fight, Influential Advisory Firm Says

The investors who want to shake up the boardroom of San Diego-based Amylin Pharmaceuticals have made a convincing argument, and three of the five directors they have nominated ought to win election against the company’s slate of directors, according to RiskMetrics, an influential firm that advises institutional investors on proxy votes. The recommendation from RiskMetrics, … Continue reading “Amylin Dissidents Ought to Win Proxy Fight, Influential Advisory Firm Says”

Icahn’s Plan to Split Up Biogen Idec Would “Destroy Shareholder Value,” Company Says

Biogen Idec delivered a second counterpunch today against Carl Icahn—this time against the billionaire investor’s proposal to split the company into two parts. The company said Icahn’s idea would add administrative costs, make Biogen less attractive to a potential buyer, and “destroy shareholder value.” The Cambridge, MA-based biotech company (NASDAQ: [[ticker:BIIB]]) offered its latest salvo … Continue reading “Icahn’s Plan to Split Up Biogen Idec Would “Destroy Shareholder Value,” Company Says”

Ramgen Power Nabs $20M From Federal Stimulus to Make Coal Cleaner

Bellevue, WA-based Ramgen Power Systems has secured $20 million from the federal stimulus package to develop technology that captures and stores excess carbon emitted by power plants, according to a statement from U.S. Rep. Jay Inslee. Ramgen’s technology seeks to capture and store excess carbon based on compression principles learned from studying supersonic jet engines, … Continue reading “Ramgen Power Nabs $20M From Federal Stimulus to Make Coal Cleaner”

With $4.25M Seed Fund, Alliance of Angels Looks to Take Northwest Investing to “New Level”

Seattle-based Alliance of Angels officially announced its new $4.25 million seed fund this week, which it will invest in early-stage companies alongside individual investors. The Alliance of Angels’ Marty Smith first revealed the fund at the Technology Alliance’s annual luncheon in Seattle on May 1. “AoA continues to actively invest in great local companies and … Continue reading “With $4.25M Seed Fund, Alliance of Angels Looks to Take Northwest Investing to “New Level””

FiRe, as in Future in Review, Comes to San Diego

Tesla Motors Chairman and CEO Elon Musk and Hewlett-Packard Chairman and CEO Mark Hurd are among the speakers scheduled for this year’s four-day FiRe Conference. The event hosted by Mark Anderson, founder and publisher of the Strategic News Service, consists entirely of focused conversations on subjects affecting the near- and mid-term future. Online registration is … Continue reading “FiRe, as in Future in Review, Comes to San Diego”