Unable to consummate a merger with Elitech of France that was announced last year, San Diego’s Nanogen says it has filed for Chapter 11 bankruptcy and plans instead to sell its assets to Elitech for $25.7 million. Nanogen, which specializes in molecular diagnostics kits and reagents for rapid, point-of-care, diagnostic tests, revealed its merger plans with … Continue reading “Nanogen Files for Bankruptcy, Arranges Asset Sale”
Hydrovolts Wins $50K Zino Green Fund
The Zino Society announced yesterday it has awarded its $50,000 Zino Green Fund to Seattle-based Hydrovolts, the maker of a novel underwater turbine for producing electricity in canals and waterways. Hydrovolts is led by Burt Hamner, who pitched the company at last month’s Zino Society Green Investment Forum.
Stem Cell Tech in Fate’s Hands
Fate Therapeutics, a La Jolla, CA-based biotech startup tapping advances in stem cell biology to develop new drugs, says it has gained exclusive rights to technology involving blood-forming stem cells from Children’s Hospital Boston and Massachusetts General Hospital. The hospitals jointly own the technology. Leonard Zon, director of the stem cell program at Children’s and … Continue reading “Stem Cell Tech in Fate’s Hands”
A Pathfinder in Wireless Healthcare Says Reimbursement, Not Innovation, is the Critical Factor for Startups Today
Within the span of a few months, it seems as though wireless healthcare has come into focus as an emerging area of innovation and technology convergence. That has been especially true in San Diego, where the Gary and Mary West Foundation committed $45 million at the end of March to create the West Wireless Health … Continue reading “A Pathfinder in Wireless Healthcare Says Reimbursement, Not Innovation, is the Critical Factor for Startups Today”
GSK biotech subsidiary Tempero Pharma launched in the Boston area
London-based drug giant GlaxoSmithKline has quietly spun off a biotech startup, Tempero Pharmaceuticals, in the life sciences haven of Cambridge, MA, to develop drugs to treat diseases in which the immune system goes awry and attacks healthy tissues, Xconomy has learned. Tempero was incorporated in March, according to state of Delaware corporate records. The word … Continue reading “GSK biotech subsidiary Tempero Pharma launched in the Boston area”
ASCO Sneak Peek: ImmunoGen, Biogen Idec, Infinity Show Glimpses of Cancer Drug Data
Cancer is the one of the most intense fields of R&D in the pharmaceutical business, and if you need convincing, take a look at the enormous heaps of data that started appearing online last night. The annual cancer drug data frenzy known as the American Society of Clinical Oncology (ASCO) got its official kickoff of … Continue reading “ASCO Sneak Peek: ImmunoGen, Biogen Idec, Infinity Show Glimpses of Cancer Drug Data”
Northwest Layoff Update: Vidoop, TeachStreet, Pathway, Nokia, Microsoft Cut Staff
Times are still tough out there—and maybe getting tougher—despite faint rumblings of an economic recovery on the horizon. In the past two weeks, young startups and big public companies alike have shed workers in layoffs big and small. Here’s a quick recap of the bloodletting in the Northwest. —Vidoop, a Portland, OR-based maker of online … Continue reading “Northwest Layoff Update: Vidoop, TeachStreet, Pathway, Nokia, Microsoft Cut Staff”
Avila Therapeutics Hires First CEO Katrine Bosley, Adds $5M from Existing Investors
[[Update: information about a company financing was added to this story at 10 a.m today.]] At some point in the life of a biotech startup, the firm typically needs to strike a deal with a drug company or another deep-pocketed outfit to stay in business. Avila Therapeutics is no exception, and the young Waltham, MA-based … Continue reading “Avila Therapeutics Hires First CEO Katrine Bosley, Adds $5M from Existing Investors”
Oracle Forges Plan To Acquire Virtual Iron, MA Gets $25M For Wind Turbine Testing Facility, NBC’s Peacock Equity Fund Crows Over EveryZing, & More Boston-Area Deals News
The climate in Boston this week was neither steamy nor stormy. Likewise, the week in deals was a little bit hot and a little bit cold —with not much on either extreme. —Oracle flexed its muscle in Massachusetts, acquiring Lowell, MA-based Virtual Iron for an undisclosed sum. Virtual Iron specializes in virtualization technology, which allows … Continue reading “Oracle Forges Plan To Acquire Virtual Iron, MA Gets $25M For Wind Turbine Testing Facility, NBC’s Peacock Equity Fund Crows Over EveryZing, & More Boston-Area Deals News”
In Economic Outlook for San Diego, 2009 Branded a “Throw-Away Year”
San Diego County’s regional economy is still contracting, with housing starts at a 41-year low, employers continuing to shed jobs, and consumer spending stuck in the doldrums, according to an economic report set for release today by the UCLA Anderson Forecast. “Consider 2009 a throw-away year except that the existing housing sector should recover,” UCLA’s … Continue reading “In Economic Outlook for San Diego, 2009 Branded a “Throw-Away Year””
Building a Green Bio-Economy in Washington State
Washington State has an opportunity to be one of the leading national clusters in green technology if it can take advantage of expertise in biotech and information technology. The Washington Biotechnology & Biomedical Association will host a breakfast event to discuss the opportunities. Speakers include Margaret McCormick of Targeted Growth, John Gardner of Washington State … Continue reading “Building a Green Bio-Economy in Washington State”
Nobel Laureate Mario Capecchi Keynote: Northwest Association for Biomedical Research Annual Fundraising Dinner
Nobel Laureate Mario Capecchi, a University of Utah professor, will be the keynote speaker at the Northwest Association for Biomedical Research’s annual fundraising dinner. Capecchi will tell his life story as an orphan during World War II in Italy. For more information on how to register, click here.
ASCO Preview: Seattle Genetics, ZymoGenetics, Trubion & Other Seattle Biotechs Offer Peeks at Cancer Drug Results
The market for cancer drugs is booming, on pace to grow from $66 billion in worldwide sales in 2008 to more than $84 billion by 2012, according to data from Cowen & Company. So if you are a member of the leading association of cancer physicians in the world, then chances are your annual meeting … Continue reading “ASCO Preview: Seattle Genetics, ZymoGenetics, Trubion & Other Seattle Biotechs Offer Peeks at Cancer Drug Results”
Slacker, Inc. Garners $9,600,000 Series C Funding
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=79c80463-bb80-4906-bff4-12fbe9a577b1&Preview=1 Date 5/15/2009 Company Name Slacker, Inc. Mailing Address 16935 W. Bernardo Dr. San Diego, CA 92127 Company Description Slacker is a new kind of music company. We deliver personal radio that is customized for every listener. Slacker is effortless to use and the music is accessible at home, in the car, … Continue reading “Slacker, Inc. Garners $9,600,000 Series C Funding”
SynapticMash, LLC Receives $1,250,000 New Funding
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=1d7156ee-b969-474f-b4c3-45b6f7eb26e8&Preview=1 Date 5/15/2009 Company Name SynapticMash, LLC Mailing Address 1511 3rd Ave. Seattle, WA 98101 Company Description The company develops software. Website http://www.synapticmash.com Transaction Type Venture Equity Transaction Amount $1,250,000 Transaction Round Undisclosed Proceeds Purposes Proceeds purposes were not disclosed. M&A Terms Venture Investor Vantage Partners Venture Investor Undisclosed
iRhythm Technologies Garners $6,500,000 New Funding Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=8f4857c7-0d01-4c24-bd0d-47b7ed410b9e&Preview=1 Date 5/15/2009 Company Name iRhythm Technologies Mailing Address 650 Townsend Street San Francisco, CA 94103 Company Description iRhythm Technologies has developed a novel cardiac rhythm monitoring device that is dramatically superior to any currently available monitor due to its radically simplified design and ease-of-use. Website http://www.irhythmtech.com Transaction Type Venture Equity Transaction … Continue reading “iRhythm Technologies Garners $6,500,000 New Funding Round”
Acquires Solidcore Systems for $33,000,000
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=6af8d5b1-0c00-4626-8f72-e644abc6ea6f&Preview=1 Date 5/15/2009 Company Name Solidcore Systems Mailing Address 20863 Stevens Creek Blvd. Cupertino, CA 95014 Company Description Solidcore empowers organizations to get control of IT change, and channel it to drive improvement in IT services and bring greater efficiency to their infrastructure. Website http://www.solidcore.com Transaction Type M&A Transaction Amount $33,000,000 Transaction … Continue reading “Acquires Solidcore Systems for $33,000,000”
Benchmark Gets Cash Infusion
San Diego-based healthcare administration technology provider Benchmark Revenue Management said today it has raised additional capital in what it called a Series A funding round that was led by David Barach of the Tech Coast Angels. CEO Tyson McDowell says the round will enable the company to achieve positive cash flow, but he declined to … Continue reading “Benchmark Gets Cash Infusion”
Vulcan Capital Gets New Boss
Vulcan Capital, the group that manages billionaire Paul Allen’s investment holdings, has promoted Chris Temple to be its new president, replacing Lance Conn. Temple, who joined Vulcan last year, previously was managing director at Tailwind Capital, a New York-based private equity firm. “Chris is an exceptional talent and has proven a valuable member of our … Continue reading “Vulcan Capital Gets New Boss”
Slacker Raises Another $9.7M in Venture Funding
Slacker, the San Diego-based online music streaming service, disclosed in a regulatory filing this week that it has raised almost $9.7 million so far in a secondary venture round intended to raise $10.2 million. As Xconomy’s Juha-Pekka Tikka reported Tuesday, Slacker raised $5 million in venture funding just six months ago from Rho Ventures of … Continue reading “Slacker Raises Another $9.7M in Venture Funding”
Biogen Idec Pipeline Strong, Tysabri Coming Back; Icahn Would “Weaken” Board, Company Says
Biogen Idec shot back at Carl Icahn today in a regulatory filing. The company disputed the ways in which the billionaire challenged virtually every aspect of its business, and disagreed with Icahn’s fundamental conclusion that it is suffering from “failed leadership.” Cambridge, MA-based Biogen (NASDAQ: [[ticker:BIIB]]) says its R&D pipeline is strong, physicians are regaining … Continue reading “Biogen Idec Pipeline Strong, Tysabri Coming Back; Icahn Would “Weaken” Board, Company Says”
SynapticMash Scores $1.25M
Seattle-based SynapticMash, an educational software and management company, has raised $1.25 million in new funding, according to a regulatory filing. The company, founded in 2007, is led by CEO Ramona Pierson and previously raised $3 million last June. Its board members include Debra Chrapaty, a Microsoft vice president of global foundation services, Bippy Siegel of … Continue reading “SynapticMash Scores $1.25M”
Bill Gates and Paul Allen To Enter Xconomy Battle of the Tech Bands (Sort Of)
Are you ready to rock? We’ve already received quite a few submissions from Seattle-area musicians in the tech and life sciences community who want to compete in the Xconomy Battle of the Tech Bands. The big competition is happening at the WTIA Summer Celebration at the Pyramid Ale House on July 30. (Event details and … Continue reading “Bill Gates and Paul Allen To Enter Xconomy Battle of the Tech Bands (Sort Of)”
OmniGuide Reports $1.8M Financing
OmniGuide, a Cambridge, MA-based provider of laser-based medical scalpels, has raised $1.8 million in an equity financing, according to an SEC filing. The filing does not specify who invested in the round. Xconomy last covered the company in May 2008 when the firm disclosed a $25 million fifth-round financing. Its investors include company chairman Ray … Continue reading “OmniGuide Reports $1.8M Financing”
SaaS Forum: Competing in a SaaS World—Overcoming the Challenges to Deliver Successful Sales and Marketing Results
To be successful in SaaS, providers and traditional software companies must re-think conventional sales and marketing strategies. In this half-day program, industry leaders and experts who have successfully created sales and marketing strategies discuss different approaches for customer acquisition and retention. Registration and program details.
The View From All Sides: What It Takes and Means to Secure Seed Funding in Today’s Economy
The landscape is changing for seed funding, and not just because of the recession. These days successful technology startups can show meaningful progress on less funding, and new approaches to early-stage funding have emerged, creating more fuel for entrepreneurs and innovators. This MIT Enterprise Forum event features a panel of entrepreneurs, angel investors, and VCs … Continue reading “The View From All Sides: What It Takes and Means to Secure Seed Funding in Today’s Economy”
Altair Therapeutics Changes CEO
San Diego’s Altair Therapeutics today named former Forward Ventures partner Joel Martin as president and CEO. Martin, who left the San Diego life sciences VC firm in October, was previously a co-founder of Avant BioVentures. Altair’s current CEO Paul Brennan will continue working with the company. Privately held Altair, which was founded in 2007, develops … Continue reading “Altair Therapeutics Changes CEO”
Delve Raises $1.65M, Revenues Surge
Seattle-based Delve Networks, an online video publishing and management company, has raised $1.65 million in new funding. According to a regulatory filing, the total offering is $11.3 million, and the investors are Scott Lenet of DFJ Frontier and Mark Klebanoff of Seattle-based Daptiv. Delve, which was co-founded by CEO Alex Castro in 2006 (when it … Continue reading “Delve Raises $1.65M, Revenues Surge”
What’s Next in Tech: Exploring the Growth Opportunities of 2009 and Beyond
This evening event is of particular interest to anyone starting a business or looking for their next job in technology. A networking reception will be followed by two discussion segments—one with venture capitalists, one with entrepreneurs—followed by plenty of time for Q&A. “What’s Next in Tech” is hosted by Future Forward Events in association with … Continue reading “What’s Next in Tech: Exploring the Growth Opportunities of 2009 and Beyond”
Anaphore Gets Extra $13M
San Diego-based Anaphore said today it has raised $13 million in a second closing of its Series A preferred stock financing, bringing the round to a total of $38 million. Anaphore, founded in 2008, is developing a new class of protein therapeutics for life-threatening diseases. The company’s investors are the SR One venture unit of … Continue reading “Anaphore Gets Extra $13M”
BakBone buys ColdSpark for $15.9M
San Diego-based data backup and recovery firm BakBone has acquired Broomfield, CO-based ColdSpark, a provider of enterprise email solutions. According to a press release, BakBone will pay $15.9 million for the company in cash and common shares. ColdSpark’s co-founder and chief technologist Scott Brown will become GM of BakBone’s new Message Management Division. This month, … Continue reading “BakBone buys ColdSpark for $15.9M”
Regulus Hits GSK Milestone
Regulus Therapeutics, the Carlsbad, CA-based developer of drugs that block microRNA targets, said today it has reached the first milestone as part of its partnership with GlaxoSmithKline. Regulus has delivered specific microRNA blockers, known as anti-MIRs, in mice, and shown how they change the expression of genes in immune cells. Regulus didn’t disclose any financial … Continue reading “Regulus Hits GSK Milestone”
Cadence Applies for FDA Approval
Cadence Pharmaceuticals (NASDAQ: [[ticker:CADX]]), the San Diego-based developer of a new pain medication, said today it has filed an application to seek FDA approval to start selling it in the U.S. The drug, an intravenous form of acetaminophen with the trade name of Acetavance, reached its goal of providing pain relief in a clinical trial. … Continue reading “Cadence Applies for FDA Approval”
Cascadia Capital’s New Managing Director, Michael Orbach, on Trends to Watch in IT Deals
Veteran software entrepreneur and investment banker Michael Orbach is joining Seattle-based Cascadia Capital today. As a new managing director in the investment bank, Orbach will focus on mergers and acquisitions, as well as capital raises, in software and services—all in the mid-market range of $20 million to $500 million deals. The new hiring looks to … Continue reading “Cascadia Capital’s New Managing Director, Michael Orbach, on Trends to Watch in IT Deals”
Oncothyreon Cash Will Last 12 Months
Oncothyreon, the Seattle-based developer of cancer drugs, said today that it had $15.4 million in cash and investments at the end of March, according to its quarterly report. The company (NASDAQ: [[ticker:ONTY]]) expects to spend $12 million on operations in 2009, and win a milestone payment from its partner, Merck KGaA, which means it should … Continue reading “Oncothyreon Cash Will Last 12 Months”
Words to the Wise When the Exits Are Closed
If you’re the CEO of a venture-backed company, what can you do when the exit doors remain closed for IPOs, and the collapse of capital markets has slowed mergers and acquisitions to a trickle? That may be the question of the hour, or perhaps the year. But preserving your options, and creating new ones, was … Continue reading “Words to the Wise When the Exits Are Closed”
Nuance Debuts Scan-to-Kindle Feature
OmniPage 17, the latest version of a Windows document version program from Burlington, MA-based Nuance Communications (NASDAQ: [[ticker:NUAN]]), has the ability to upload scanned documents directly to Amazon Kindle 2 reading devices, Nuance announced today. The new feature is part of an overall push by Nuance to help offices go paperless. The Kindle conversion process … Continue reading “Nuance Debuts Scan-to-Kindle Feature”
No Recession in WeeWorld: Teen Socializing Drives Growing Virtual Goods Revenues
Dinner party conversations with Celia Francis don’t go down the usual paths. “When people ask ‘What do you do?” she says, “I have to say ‘I sell animated ferrets.’” Francis is the Harvard- and MIT-educated CEO of WeeWorld, a transatlantic virtual goods company with its U.S. headquarters in Concord, MA, and its European headquarters in … Continue reading “No Recession in WeeWorld: Teen Socializing Drives Growing Virtual Goods Revenues”
Targeted Genetics Faces Extinction, Cell Therapeutics Unloads Debt, Dendreon Raises $221M, & More Seattle-Area Life Sciences News
One consequence of the downturn is that it appears to be widening the gaps between the winners and losers in Seattle biotech. Here’s a rundown of who was up and who was down: —One of the emerging winners, Dendreon (NASDAQ: [[ticker:DNDN]]), raised a fresh $221 million through a public offering underwritten by Deutsche Bank. The … Continue reading “Targeted Genetics Faces Extinction, Cell Therapeutics Unloads Debt, Dendreon Raises $221M, & More Seattle-Area Life Sciences News”
For Nirvanix, Bliss is a Number Followed by Fifteen Zeros in a Cloud
San Diego’s cloud storage provider Nirvanix has raised eyebrows by claiming to be 200 percent faster than the great storage pioneer, Amazon’s Simple Storage Service. Cloud storage is a current hot topic many find hard to understand, but it all comes down to this: Nirvanix and similar companies store your computer’s archives on the Internet. … Continue reading “For Nirvanix, Bliss is a Number Followed by Fifteen Zeros in a Cloud”
DocuSign, Ontela Win Awards
Seattle startups DocuSign, a digital-signature software firm, and Ontela, which makes a mobile photo-sharing and uploading service, were among the companies named to the “Red Herring 100” last night in San Diego. The award signifies excellence in entrepreneurship and innovation in North American technology companies. The complete list of 200 finalists can be found here.
Accelerator’s New Startup, Xori, Aims to Use Chicken Cells to Make Better Antibody Drugs
Accelerator’s latest company has a vision of turning the world of antibody drug development upside down. The tenth company to roll out of the Seattle-based biotech startup machine, Xori, aims to turn lab dishes of chicken cells into factories for making better, faster, cheaper antibody drugs. Xori also represents the fulfillment of a sort of … Continue reading “Accelerator’s New Startup, Xori, Aims to Use Chicken Cells to Make Better Antibody Drugs”
Arsenal Medical CTO Jeff Carbeck on His Secretive Startup, Attractions of Clean Energy Sector
Jeff Carbeck walked away from a promising career in academia four years ago to co-found Arsenal Medical, to apply advances in materials science to the healthcare market. Carbeck and I talked last week about his work at Watertown, MA-based Arsenal (originally named WMR Biomedical), which Xconomy reported last week raised $8.2 million in a third … Continue reading “Arsenal Medical CTO Jeff Carbeck on His Secretive Startup, Attractions of Clean Energy Sector”
Delve Networks Lands $1,650,000 New Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=8a000341-5de8-4d48-8f1b-4c674ea38450&Preview=1 Date 5/14/2009 Company Name Delve Networks Mailing Address 1008 Western Ave Seattle, WA 98104 Company Description The answer is Delve Networks, making it possible for any organization to realize the potential of online video. Delve offers a complete plug and play solution to manage, publish, measure, and monetize video on the … Continue reading “Delve Networks Lands $1,650,000 New Financing”
Anaphore, Inc. Lands $13,000,000 Series A Funding
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=d78bc7e8-c43f-42e5-85b3-8bddd56d5ac5&Preview=1 Date 5/14/2009 Company Name Anaphore, Inc. Mailing Address Undisclosed San Diego, CA 92120 Company Description Anaphore was created through the acquisition of Borean Pharma ApS, a Danish biotechnology company with both a product portfolio and technology platforms for creating improved protein therapeutics. The Danish firm spent six years establishing the technologies … Continue reading “Anaphore, Inc. Lands $13,000,000 Series A Funding”
OmniGuide, Inc. Obtains $1,800,000 New Funding Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=b6115829-7c75-498c-b466-14c1580c5e8d&Preview=1 Date 5/14/2009 Company Name OmniGuide, Inc. Mailing Address One Kendall Square, Building 100, 3rd Floor Cambridge, MA 02139 Company Description OmniGuide, Inc. develops and manufactures disposable cutting tools for minimally invasive surgery, based on a unique fiber technology for guiding high power laser light. Website http://www.omni-guide.com Transaction Type Venture Equity Transaction … Continue reading “OmniGuide, Inc. Obtains $1,800,000 New Funding Round”
Aha Mobile Lands $3,000,000 Series A Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=214cdd07-ebab-4d0d-8402-7ab0aa0ea372&Preview=1 Date 5/14/2009 Company Name Aha Mobile Mailing Address 3340 Hillview Avenue Palo Alto, CA 94304 Company Description Aha Mobile makes drivers smarter by keeping them informed about the world around them. Founded in 2008, Aha has developed a connected back-end platform that is designed to power a wide array of consumer … Continue reading “Aha Mobile Lands $3,000,000 Series A Financing”
Ksplice Wins MIT $100K—Software Updates With No Reboots
It’s not every day that someone posts a guest column for Xconomy in the morning and wins $100,000 in the evening. But that’s exactly what happened with Ksplice, which is working on technology that lets computer users install software updates while applications are running, avoiding a system restart and the lost productivity that can come … Continue reading “Ksplice Wins MIT $100K—Software Updates With No Reboots”
Dashwire Raises $1.6M from Geoff Entress, Best Buy, to Sync Your Cellphone with the Web
Seattle-based Dashwire, a mobile-Web software startup, has closed a $1.6 million round of financing (out of a $2.3 million offering), according to a regulatory filing. The round was led by Seattle-area investor Geoff Entress, who has previously backed the company and serves on its board, and Best Buy Capital, who has added Ying Zeng to … Continue reading “Dashwire Raises $1.6M from Geoff Entress, Best Buy, to Sync Your Cellphone with the Web”
Bootstrapping Your Business
In times of economic stress, enterprising tech execs find ways of trimming costs and conveying a renewed sense of focus and urgency that enables their workforce to do more with less. The San Diego Venture Group has organized a breakfast panel discussion on surviving in a hostile environment—moderated by a former Navy Seal. Networking and … Continue reading “Bootstrapping Your Business”