All three branches of the federal government are acting on U.S. patent policy, with potentially far-reaching consequences for innovation in San Diego’s life sciences and high technology sectors. Connect has organized the session to address changes underway at the U.S. Patent and Trademark Office, in Congress and at the Federal Circuit. Registration begins at 7:30 a.m., or … Continue reading “Patent Policy in a Perfect Storm of Federal Power”
GreenFuel Runs Out of Fuel, Shuts Down; Algae-to-Biofuel Technology for Sale
[Updated 7:30 p.m., 5/13/09, with input from former GreenFuel interim CEO Bob Metcalfe, see below.] Cambridge, MA-based GreenFuel Technologies, which struggled for eight years to commercialize an industrial-scale process for growing algae that could be turned into biofuels or food, is closing down for lack of financing and selling off its technologies. Greentech Media broke … Continue reading “GreenFuel Runs Out of Fuel, Shuts Down; Algae-to-Biofuel Technology for Sale”
Prism’s Latest Fund Hibernates
Prism VentureWorks in Needham, MA, has given up for now on fundraising for its sixth venture fund, PE Hub reported this morning. The firm had hoped to raise $275 million for the fund, but expected commitments from large institutional investors such as the New York School Teachers’ Retirement System and the New York City pension … Continue reading “Prism’s Latest Fund Hibernates”
Seattle Firms iLike, PopCap, Evri, and Zumobi Partner with Apple—an iPhone Update
It’s hard to keep up with the flood of new iPhone applications these days, but a few Seattle-based companies warrant a mention here for their recent news. Especially coming on the heels of the high-profile acquisitions of Seattle’s Urbanspoon (makers of the popular restaurant guide app) by IAC, and Lexcycle (makers of the e-book app … Continue reading “Seattle Firms iLike, PopCap, Evri, and Zumobi Partner with Apple—an iPhone Update”
Oracle Scoops Up Virtual Iron, Bolsters Virtualization Capabilities
Database giant Oracle (NASDAQ: [[ticker:ORCL]]) has scaled up its presence in Massachusetts—and placed itself in more direct competition with Hopkinton, MA-based EMC’s VMware subsidiary—by announcing its intention to acquire Virtual Iron, a maker of data center virtualization software in Lowell, MA. Redwood Shores, CA-based Oracle already has its own virtualization technology, called Oracle VM. The … Continue reading “Oracle Scoops Up Virtual Iron, Bolsters Virtualization Capabilities”
Oracle to Buy Virtual Iron
Oracle (NASDAQ:[[ticker:ORCL]]), the Redwood Shores, CA-based technology giant, says this morning that it has agreed to buy Virtual Iron Software, headquartered in Lowell, MA, to boost its presence in the market for server virtualization software. The transaction is expected to close this summer, according to Oracle, which did not disclose financial terms of the deal. … Continue reading “Oracle to Buy Virtual Iron”
Zymo Melanoma Drug Shrinks Tumors
ZymoGenetics, the Seattle biotech company, said today that one of its experimental cancer drugs that it is seeking to outlicense showed an ability to shrink tumors in a clinical trial. Interim results from a trial of 24 patients with metastatic melanoma—a form of skin cancer that has spread through the body and is difficult to … Continue reading “Zymo Melanoma Drug Shrinks Tumors”
Artisan Raises $9.4M in Debt Round
Artisan Pharma, a Waltham, MA-based developer of a biotech drug for a blood-clotting condition in sepsis patients, has raised $9.4 million of an $11.8 million round of debt financing, the firm reported yesterday in an SEC filing. The filing did not specify the investors in the debt round, which may also include the sale of … Continue reading “Artisan Raises $9.4M in Debt Round”
Molecular Insight Names Peters CEO
Molecular Insight Pharmaceuticals (NASDAQ:[[ticker:MIPI]]) reports today it has a new president and CEO, Daniel Peters, who was previously president of the diagnostics division of GE Healthcare. Peters takes over the chief executive role from Molecular co-founder John Babich, who is staying with the Cambridge, MA-based firm as chief scientific officer in charge of research and … Continue reading “Molecular Insight Names Peters CEO”
Genzyme Targets Growth, Taligen Takes $26M, Icahn Lays Into Biogen Idec Management, & More Boston-Area Life Sciences News
A good number of New England life sciences firms took home new venture money this past week—in a couple of cases, in fairly large bags. —Luke gave an overview of how Cambridge, MA-based biotech powerhouse Genzyme (NASDAQ: [[ticker:GENZ]]) plans to keep its revenues growing and its pipeline moving. Potentially important drugs for the company in … Continue reading “Genzyme Targets Growth, Taligen Takes $26M, Icahn Lays Into Biogen Idec Management, & More Boston-Area Life Sciences News”
San Diego’s BlackBall Finds the Files from Unstructured Data
“How many of us have lost a file sometimes?” BlackBall CEO Bob Brown’s first question to his audience is a killer. Hasn’t everyone lost or missed a file in their computer? We’re all storing more and more files in unremembered places all over our computers, where they become “unstructured data” instead of organized in some supposed folders. And … Continue reading “San Diego’s BlackBall Finds the Files from Unstructured Data”
Husk Insulation Wins $200,000 MIT Clean Energy Prize: Building Better Refrigerators from Rice Husks
In a ceremony attended by the state secretary of energy and environmental affairs, the director of energy initiatives at Google, and the CEO of NSTAR, the state’s largest utility, the $200,000 MIT Clean Energy Prize was awarded yesterday to a Michigan startup, Husk Insulation, whose innovations could help make refrigerators far more efficient—and roomier to … Continue reading “Husk Insulation Wins $200,000 MIT Clean Energy Prize: Building Better Refrigerators from Rice Husks”
Advice for Startups in Gloomy Times: Outwit, Outplay, Outlast
The backstory wasn’t exactly auspicious as Red Herring publisher and tech conference organizer Alex Vieux convened the North America 100 in San Diego yesterday saying, “This is an economic crisis whose end is not near.” In a bid to sound positive, Vieux added that a crisis also represents an opportunity “that is too good to … Continue reading “Advice for Startups in Gloomy Times: Outwit, Outplay, Outlast”
Inside View of the MIT 100K Competition—How One Team Got to Tonight’s Finals
We were checking in at the front desk for one of the $100K events, and the security guard asked me, “So, the 100K—the ‘K’ is for kilometers? It’s some sort of race?” No, it’s not a race, it’s MIT’s entrepreneurship competition. We’re the Web/IT track winner, and tonight we’ll be competing for the $100K grand … Continue reading “Inside View of the MIT 100K Competition—How One Team Got to Tonight’s Finals”
Seattle is “Minor League” Innovation Town, So We Shouldn’t Be So Smug, Tech Leaders Say
Seattle can be a very politically correct place, and one very un-PC thing to say is that we’re a second-rate burg when it comes to spawning innovative industries of the future. But Ed Lazowska, one of Seattle’s gutsiest public intellectuals, let it rip yesterday in front of a small gathering of about 100 technology elites … Continue reading “Seattle is “Minor League” Innovation Town, So We Shouldn’t Be So Smug, Tech Leaders Say”
uTest Site Revamped for Collaboration
Southborough, MA-based uTest, a Web-based service that helps software companies crowdsource their quality assurance processes to freelance testers, relaunched its website today with an emphasis on collaboration tools for its community of more than 16,000 testers. A new forum area allows testers to create personal profiles, exchange private messages, and share their best practices, while … Continue reading “uTest Site Revamped for Collaboration”
Follica Gets New CEO, Gears Up for More (Hair and Business) Growth
Follica, the Boston-area startup out to bring a scientific approach to helping hair-loss sufferers re-grow their locks, is preparing for some new growth of its own. The firm, run since its late 2006 inception by founding CEO Daphne Zohar of Boston’s PureTech Ventures, announced today the hiring of a new president and CEO, William Ju, … Continue reading “Follica Gets New CEO, Gears Up for More (Hair and Business) Growth”
Oracle Corp. Acquires Virtual Iron Software for Undisclosed Sum
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=991bc55d-8d80-4225-b5c0-e1a29b0d1a79&Preview=1 Date 5/13/2009 Company Name Virtual Iron Software Mailing Address 900 Chelmsford Street Lowell, MA 01851 Company Description Virtual Iron provides, Xen-based, enterprise-class software solutions for creating and managing virtual infrastructure. Organizations use Virtual Iron for consolidation, rapid provisioning, business continuity, workload management and policy-based automation. Website http://www.virtualiron.com Transaction Type M&A Transaction … Continue reading “Oracle Corp. Acquires Virtual Iron Software for Undisclosed Sum”
High Density Networks Inc Secures $1,000,000 New Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=c629c76a-fa5c-43bb-8637-72f2f56e164e&Preview=1 Date 5/13/2009 Company Name High Density Networks Inc Mailing Address 900 N. Alameda St. Los Angeles, CA 90012 Company Description HDN realizes economies of scale in operations and deployment through our network architecture; we are able to guarantee Quality of Service throughout our entire network and will provide full multimedia services … Continue reading “High Density Networks Inc Secures $1,000,000 New Financing Round”
FUHU Inc Receives $6,250,000 Series B Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=1dc3f4ac-8170-48be-8799-8b087d488835&Preview=1 Date 5/13/2009 Company Name FUHU Inc Mailing Address 909 N. Sepulveda Blvd El Segundo, CA 90245 Company Description FUHU is a leading provider of Web 2.0 properties and applications that help people manage, access and share their digital life anywhere, anytime. Website http://www.fuhu.com/ Transaction Type Venture Equity Transaction Amount $6,250,000 Transaction … Continue reading “FUHU Inc Receives $6,250,000 Series B Financing”
Dashwire, Inc Obtains $1,600,000 New Funding
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=34f3d14e-5433-437a-8565-73d31b931c6d&Preview=1 Date 5/13/2009 Company Name Dashwire, Inc Mailing Address 936 N. 34th Street Seattle, WA 98103 Company Description Dashwire seamlessly integrates your mobile phone and the world it captures with your computer and the web, helping you access and share your mobile experiences – no cables required. Website http://www.dashwire.com Transaction Type Venture … Continue reading “Dashwire, Inc Obtains $1,600,000 New Funding”
OptionEase Secures $2,500,000 Series A Funding
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=1c03b3db-5f5d-4d69-9df8-c06e8a9e816f&Preview=1 Date 5/13/2009 Company Name OptionEase Mailing Address 31351 Rancho Viejo Road San Juan Capistrano, CA 92675 Company Description OptionEase is a comprehensive Software as a Service (SaaS), which satisfies all audit requirements regarding FAS 123(R) – Accounting for Employee Stock Options. The OptionEase web based system is credible and flexible enough … Continue reading “OptionEase Secures $2,500,000 Series A Funding”
Streamezzo Secures $5,100,000 New Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=b38cab1d-69a4-4cc0-bbad-4d39cde8c8ba&Preview=1 Date 5/13/2009 Company Name Streamezzo Mailing Address 1001 Marshall Street Redwood City, CA 94301 Company Description Streamezzo’s superlative range of rich media mobile solutions guarantees an intuitive, original and compelling experience for any user.Leverage our expertise to develop and deliver premium services, boost revenue, and increase customer loyalty. Take advantage of … Continue reading “Streamezzo Secures $5,100,000 New Financing Round”
BlogHer Secures $7,000,000 Series C Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=b87ea8d9-ebdd-47e4-b0f8-a3613dd1329b&Preview=1 Date 5/13/2009 Company Name BlogHer Mailing Address 805 Veterans Boulevard Redwood City, CA 94063 Company Description The BlogHer community hub is the Web’s number-one guide to blogs by women. Every blogger is invited to list her blog and share her latest words, pictures, video and opinions. As of July, 2008, more … Continue reading “BlogHer Secures $7,000,000 Series C Financing”
Gerry Langeler of OVP on Digital Energy and the Cyclical Nature of Venture Capital
Maybe it’s not such a bad time to be an investor after all. OVP Venture Partners, based in Kirkland, WA, held its sixth annual Technology Summit today at the Four Seasons Hotel in downtown Seattle, and the mood was decidedly upbeat. The crowd was a real who’s who of the technology and life sciences industries; … Continue reading “Gerry Langeler of OVP on Digital Energy and the Cyclical Nature of Venture Capital”
MITX User Experience Series: Building the Case for UX
Have all aspects of your interaction and experience with our event listings been satsfactory? Granted, this is not too complicated a user experience, but if you deal with more demanding challenges in UX, or if you’re a UX evangelist, your experience at this MITX event may prove worthwhile. Event details and registration information can be … Continue reading “MITX User Experience Series: Building the Case for UX”
Nokia Closes Kirkland Office, Cuts Services
Finnish mobile giant Nokia (NYSE: [[ticker:NOK]]) said today it is halting investment in its first big Internet services effort, built around technology from the Seattle firm Twango, which it bought in 2007. As part of this strategic shift, Nokia is closing its office in Kirkland, WA, but says it is keeping the photo and video … Continue reading “Nokia Closes Kirkland Office, Cuts Services”
MA to Get $25M for Wind Testing
The Boston Globe is reporting today that Massachusetts is in line for $25 million in funding for a wind turbine testing facility to be located on the Mystic River in Charlestown. Secretary of Energy Steven Chu was expected to announce the funding, which is part of the Obama Administration’s economic stimulus package, during a visit … Continue reading “MA to Get $25M for Wind Testing”
Amylin Co-Founder Sides with Rebels in Proxy Fight
Amylin Pharmaceuticals (NASDAQ: [[ticker:AMLN]]) co-founder and original CEO Howard Greene is urging shareholders to vote for Carl Icahn’s or Eastbourne Capital Management’s proposed slate of directors, the Associated Press is reporting today. Greene’s support for dissident nominees adds new twist to a hot proxy fight at the diabetes drug maker. In a letter to shareholders … Continue reading “Amylin Co-Founder Sides with Rebels in Proxy Fight”
WildTangent, Mochi Form Ad Network
Redmond, WA-based WildTangent announced today it has formed a partnership with San Francisco-based Mochi Media to create the largest online game advertising network in the U.S. Financial terms were not disclosed, but the network will link advertisers with some 14,000 Flash games distributed across Internet portals and social networks, reaching some 30 million U.S. customers … Continue reading “WildTangent, Mochi Form Ad Network”
Taligen Raises $26M For Inflammation Drugs
Taligen Therapeutics, the Cambridge, MA-based developer of drugs for inflammatory diseases, has raised $26 million out of a $65 million financing round, according to a regulatory filing. The investors in the company weren’t named in the document, although Nick Galakatos of Clarus Ventures, Ed Hurwitz of Alta Partners, and Timothy Mills of Sanderling Ventures are … Continue reading “Taligen Raises $26M For Inflammation Drugs”
$910K Debt Deal for MetaCarta
Documents filed today with the Securities and Exchange Commission indicate that Cambridge, MA-based MetaCarta, whose software plots Web news items on digital maps by extracting metadata about locations mentioned in the items, has raised $910,000 in convertible debt. Sevin Rosen Funds, FA Technology, and Hunt Ventures were listed as participants in the financing. MetaCarta raised … Continue reading “$910K Debt Deal for MetaCarta”
San Diego Startup’s Breakthrough Is Making Lasers “the Color of Heat”
One understandable reaction to Daylight Solutions, a 23-employee startup that has developed a breakthrough in semiconductor-based, mid-infrared laser technology, might be to ask, “Where did this company come from?” The suburban San Diego company says its high-power lasers, about the size of a small box of matches, can be used in medical diagnostics, in environmental … Continue reading “San Diego Startup’s Breakthrough Is Making Lasers “the Color of Heat””
MyVu Raises $3.25 Million
MyVu, a Westwood, MA-based maker of wearable video displays, has raised $3.25 million in new funding, according to documents filed today with the Securities and Exchange Commission. MyVu raised $11.5 million in Series B capital in January 2006; investors in that round included Atlas Venture, Hillman Capital, and Intel Capital. Representatives of Atlas and Hillman … Continue reading “MyVu Raises $3.25 Million”
Green VC Danielson Leaves General Catalyst for DOE Post
Dave Danielson, founder of the MIT Energy Club and Boston’s greenest VC, has left his position as senior associate at General Catalyst Partners for the U.S. Department of Energy. As an automated e-mail response explains: “I will be making a transition from my role as a member of the General Catalyst Partners’ Cleantech investment team … Continue reading “Green VC Danielson Leaves General Catalyst for DOE Post”
Boston VCs Grok Social Media—So Can We Please Not Tell That Facebook Story Anymore?
The X Factor, which debuted last week without yet having a name, is a mostly weekly column featuring conversations with local innovators, entrepreneurs, and investors. It’s a legendary story of doom here in Boston (folks around here kind of like gloomy stories)—how the local VCs passed on this idea called Facebook, the kids from Harvard … Continue reading “Boston VCs Grok Social Media—So Can We Please Not Tell That Facebook Story Anymore?”
Epix Seeks Strategic Alternatives
Epix Pharmaceuticals, the Lexington, MA-based developer of an Alzheimer’s drug, said it is seeking strategic alternatives, including a sale or merger, to fund its operations. The company (NASDAQ: [[ticker:EPIX]]) has hired JP Morgan and Canaccord Adams to assist the board in evaluating its options, according to this AP report. The company needs a cash infusion … Continue reading “Epix Seeks Strategic Alternatives”
iloverewards.com Is Rewarded
Toronto-based iloverewards.com, which runs an online product catalog that offers corporate employees rewards as performance incentives, has closed a Series B venture funding round led by GrandBanks Capital of Newton Center, MA. There are conflicting reports about the amount of the round: a press release from iloverewards.com put it at $6.9 million, while a GrandBanks … Continue reading “iloverewards.com Is Rewarded”
Geezeo Goes White Label, Partners with Stanford Credit Union
Hartford, CT-based Geezeo—which was one of the first New England Internet startups Xconomy ever profiled, back in August 2007—announced late Monday that it’s found the first customer for its new institutional service, a personal financial management suite it unveiled in February. Geezeo has focused up to now on providing financial management tools directly to consumers … Continue reading “Geezeo Goes White Label, Partners with Stanford Credit Union”
Dendreon and Cell Therapeutics Sell Stock, Microsoft Buys BigPark, Calistoga Raises $30M, & More Seattle-Area Deals News
The days have gotten longer, and deals are really flowing in the Northwest. In the past week, there has been quite a bit of activity across different sectors of biotech, energy, and software. —Luke reported that Seattle-based Cell Therapeutics (NASDAQ: [[ticker:CTIC]]) sold $20 million worth of common stock, and warrants to buy stock, to a … Continue reading “Dendreon and Cell Therapeutics Sell Stock, Microsoft Buys BigPark, Calistoga Raises $30M, & More Seattle-Area Deals News”
Google, Microsoft May Help Usher in Personalized Medicine Wave, Says George Church
The genomic era hasn’t yet produced a revolution in personalized medicine, but it’s coming, says Harvard University geneticist George Church. Major tech companies like Google and Microsoft are making it their business to help people keep track of their health data—side-by-side with their genome sequence data (if they’ve got it). The adoption of these technologies … Continue reading “Google, Microsoft May Help Usher in Personalized Medicine Wave, Says George Church”
Q&A With Slacker Founder: The Demand for Free Online Music Just Won’t Quit
Two years ago, Dennis Mudd summoned his team of former Internet music executives and started Slacker, an online music service that offers personalized radio stations. The big idea was to mix the streaming music from Internet radio stations with personalized content according to listeners’ liking. When you want to listen to Led Zeppelin only, Slacker … Continue reading “Q&A With Slacker Founder: The Demand for Free Online Music Just Won’t Quit”
Hydrovolts Hopes to Flip Open Door to Hydropower with Novel Underwater Turbine
Burt Hamner, founder and CEO of the tiny Seattle startup Hydrovolts, has an idea he hopes will revolutionize the hydropower industry. His invention, the “flip wing” turbine, is still in development. It is a simple and cheap spin on the paddle wheel, but comes with a twist that boosts its power production. The turbine is … Continue reading “Hydrovolts Hopes to Flip Open Door to Hydropower with Novel Underwater Turbine”
Wistia Retargets Video Sharing and Measurement Technology for Small Business
I last wrote about Lexington, MA-based Wistia in September 2008, which, I’m sure you’ll remember, was approximately when the economy went all to hell. CEO Chris Savage said it was clear by October that Wistia’s original business model—licensing its Web-based video-sharing platform to large enterprises—was insufficient. So this week the startup is launching a reconfigured … Continue reading “Wistia Retargets Video Sharing and Measurement Technology for Small Business”
Myvu Corporation Garners $3,250,000 New Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=0b716b09-5000-477b-88ef-3dec21e455f9&Preview=1 Date 5/12/2009 Company Name Myvu Corporation Mailing Address 31 Dartmouth Street Westwood, MA 02090 Company Description Myvu Corporation is the leading supplier of eyewear viewers for the portable electronics industry. Medical and military applications served as the company’s fundamental technology drivers, which provided the discipline for quality, adjustment, safety and usability … Continue reading “Myvu Corporation Garners $3,250,000 New Financing Round”
PlexPress Obtains $2,750,000 New Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=68ed297d-0a0b-4a0b-8329-d016ff177b68&Preview=1 Date 5/12/2009 Company Name PlexPress Mailing Address 1660 Belvoir Dr. Los Altos, CA 94024 Company Description PlexPress is a life science company specializing in gene expression analysis technology to advance biological science, drug discovery, crop science and diagnostics. PlexPress seeks to rapidly provide reliable information at low cost. Its products simultaneously … Continue reading “PlexPress Obtains $2,750,000 New Financing”
Velti Acquires Ad Infuse for Undisclosed Sum
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=c1e7e78d-305b-4af3-80d8-2df0d497ae85&Preview=1 Date 5/12/2009 Company Name Ad Infuse Mailing Address 550 Kearny Street San Francisco, CA 94108 Company Description Ad Infuse is a smart and dynamic company, pioneering the mobile advertising market. With the vision to bring brands, content owners and carriers together to create a truly personalized experience for the mobile consumer, … Continue reading “Velti Acquires Ad Infuse for Undisclosed Sum”
Icahn Throws Down the Gauntlet, Attacks Biogen Idec’s “Failed Leadership”
Billionaire investor Carl Icahn made a relatively softball argument a year ago about why shareholders should throw out the management slate for the Biogen Idec (NASDAQ: [[ticker:BIIB]]) board and vote for his nominees instead. It didn’t work. This time, he’s launching a blistering attack that accuses the company of botching its 2003 merger with Idec … Continue reading “Icahn Throws Down the Gauntlet, Attacks Biogen Idec’s “Failed Leadership””
Cell Therapeutics Raises $20M from Single Investor, Hopes to Unload $89.2M in Debt
[[Update with corrected Zevalin sale price]] Cell Therapeutics is trying to get rid of a major load of debt. The Seattle biotech company said today it has sold $20 million worth of common stock and warrants to buy stock to a single unnamed institutional investor. It hopes to swap some of that money, along with … Continue reading “Cell Therapeutics Raises $20M from Single Investor, Hopes to Unload $89.2M in Debt”
How Microsoft BizSpark Is Doing With Startups—And How It Can Do Better
Last November, Microsoft began an ambitious experiment. It would offer free software, development tools, and technical support to startup companies around the world, in exchange for getting its technology into the hands of young developers—and a small fee when startups exit the program. BizSpark, as the program is called (not to be confused with BigPark, … Continue reading “How Microsoft BizSpark Is Doing With Startups—And How It Can Do Better”