Tekmira Pharmaceuticals, the Vancouver, BC developer of RNA interference drug delivery technology, said it it will receive $18.4 million in upfront cash under a partnership with Swiss healthcare giant Roche. Tekmira’s lipid-nanoparticle technology to keep RNAi drugs stable in the blood, which is also licensed to Cambridge, MA-based Alnylam Pharmaceuticals, will be used on Roche’s … Continue reading “Tekmira Nabs $50M RNAi Deal”
ProteoTech Raises $519K
ProteoTech, a Kirkland, WA-based developer of neurology drugs, said it has raised $519,000 in a debt offering, according to a regulatory filing. The company, founded in 1996, is testing an oral pill called Exebryl-1 in clinical trials for mild to moderate Alzheimer’s disease, and has another drug in animal testing for Parkinson’s disease, according to … Continue reading “ProteoTech Raises $519K”
Amylin Urges Shareholders to Vote Blue
In a letter to shareholders today, San Diego’s Amylin Pharmaceuticals (NASDAQ: [[ticker:ALMN]]) urges them to vote for the company’s slate of directors on a blue proxy card. Amylin’s annual meeting will be held on May 27th. The diabetes drug developer asks shareholders to discard gold or white proxy cards with board candidates nominated by billionaire … Continue reading “Amylin Urges Shareholders to Vote Blue”
Ernst & Young Report: State of the Life Sciences
Ernst & Young partners Dan Kleeburg and Doug Regnier present the firm’s annual report on the life sciences industry. For the first time, this year’s presentation will also include valuable data concerning the medical device industry. You can register online here.
CMC Icos to Make Lung Drug
CMC Icos Biologics, the Bothell, WA-based contract manufacturer of biotech drugs, said today it has signed a deal to manufacture an experimental drug for acute lung injury. CMC will make IC14, an antibody drug, for Brisbane, Australia-based Implicit Bioscience. The treatment, which is scheduled to enter Phase II trials next year, was previously tested in … Continue reading “CMC Icos to Make Lung Drug”
Cypress Shipping Fibromyalgia Drug
San Diego’s Cypress Bioscience (NASDAQ: [[ticker:CYPB]]) says in its Q1 financial results today that it began shipping its new drug milnacipran HCL (Savella) last month. The drug gained FDA approval earlier this year for treating fibromyalgia. Cypress says its first-quarter loss widened to $9.2 million from $2.9 million in the same quarter last year. The biotech has … Continue reading “Cypress Shipping Fibromyalgia Drug”
MIT 100K and Energy Prize—Impressions From the Finalist Party
The five track winners for the MIT 100K business plan competition were announced on Friday. These teams will compete in the finals on Wednesday, along with the winner of its sister contest, the MIT Clean Energy Prize competition (that team will be announced next Tuesday). All five track winners, and three of the five Energy … Continue reading “MIT 100K and Energy Prize—Impressions From the Finalist Party”
Lankau New CEO at Logical
Logical Therapeutics, a Waltham, MA-based developer of drugs to treat inflammation, says that Peter Lankau has been named CEO of the company, according to a press release. Lankau was previously CEO of Endo Pharmaceuticals (NASDAQ:[[ticker:ENDP]]), a specialty drug firm headquartered in Chadds Ford, PA. Rebecca caught up the Logical in late 2007 and detailed how … Continue reading “Lankau New CEO at Logical”
Avedro Adds $10M to Coffers, Eyes New Vision-Correction Tech
[[Updated: please see editor’s note below]] Avedro, a Waltham, MA-based startup developing a vision-correction procedure, has landed $10 million in a Series B round of equity financing, according to an SEC filing. New investor Flagship Ventures of Cambridge, MA, led the financing round, which included all previous backers from the firm’s first-round financing, Avedro CEO … Continue reading “Avedro Adds $10M to Coffers, Eyes New Vision-Correction Tech”
How Coaching T-Ball Is Like Running a Startup: Insights From Matt Hulett of Mpire
While the Mariners are still in contention for the American League West lead, I thought it might be useful to make some analogies between baseball teams and startup companies. This came out of a recent chat I had with Matt Hulett, the chief executive of Seattle-based Mpire, makers of the Widgetbucks ad network and AdXpose … Continue reading “How Coaching T-Ball Is Like Running a Startup: Insights From Matt Hulett of Mpire”
Dendreon Raises $197M in Stock Offering
Dendreon raised $197.4 million in the offering it announced last week, according to a regulatory filing. The Seattle biotech company (NASDAQ: [[ticker:DNDN]]) sold 10.7 million shares of stock at $18.45 apiece last Thursday, about a 15 percent discount on the closing market stock price of $19.76 that day. The sale is expected to close on … Continue reading “Dendreon Raises $197M in Stock Offering”
Personalized Medicine—A Tall Mountain
Despite an avalanche of new genomic information, the slope upward to applying it widely in medicine looks steep. This picture was laid out bluntly by biology pioneers Walter Gilbert and George Church at Xconomy’s biotechnology forum on Thursday, April 30. They saw big problems with both investment and public awareness. Their remarks were particularly striking … Continue reading “Personalized Medicine—A Tall Mountain”
J&J Funds Deshpande Center
Johnson & Johnson Services, a subsidiary of global healthcare giant Johnson & Johnson, will donate $750,000 to MIT’s Deshpande Center for Technological Innovation over the next five years, the center announced today. As a new member of the center’s Corporate Program, J&J’s Corporate Office of Science and Technology will also advise projects and grantees at … Continue reading “J&J Funds Deshpande Center”
Novocell Hires John West as CEO
Novocell, the San Diego-based developer of stem cell therapies for diabetes, said it has named John West as president, CEO , and a member of its board. West was previously CEO of Solexa, a maker of genome sequencing machines that was sold to San Diego-based Illumina (NASDAQ: [[ticker:ILMN]]) in 2007 for more than $600 million.
NBC Universal Invests in EveryZing; CEO Says Media Companies Have Gotten Religion About Search
EveryZing, the Cambridge, MA-based maker of search-related software for media companies, announced today that it has raised $8.25 million in Series C funding, including $3 million from Peacock Equity Fund, the venture investing wing of General Electric and NBC Universal. At the same time, EveryZing said NBC Universal will deploy its search technology across all … Continue reading “NBC Universal Invests in EveryZing; CEO Says Media Companies Have Gotten Religion About Search”
Vical Developing Vaccine for Swine Flu, Acadia’s Stock Almost Doubles on Biovail Deal, Qualcomm Launches Business Plan Contest, & Other San Diego BizTech News
Although the financial meltdown has hit San Diego’s venture community pretty hard, Lux Capital’s Larry Bock says he made his most-successful investments during the biotech nuclear winter of the early 1990s. So what areas of venture innovation seem promising today? That’s what Xconomy is here for, my friends. Read on. — Serial healthcare entrepreneur James … Continue reading “Vical Developing Vaccine for Swine Flu, Acadia’s Stock Almost Doubles on Biovail Deal, Qualcomm Launches Business Plan Contest, & Other San Diego BizTech News”
Biotech Needs Charity, and Profit Motive, To Flourish
Is it still possible to have a long, successful career doing research at a biotech company in the Seattle area? A young scientist today has only a slim chance of working for the next Immunex or Icos. Companies that last even 10 or 15 years are very rare. Yet a closer look at some of … Continue reading “Biotech Needs Charity, and Profit Motive, To Flourish”
Sorenson Wants to Become King of High-Quality Internet Video
At a time when Internet video is shifting increasingly to high-resolution images and towards professional-quality production, Sorenson Media is going through a transition of its own. The private online video codec company that was founded in Salt Lake City, UT, is joining the move to high-quality delivery with the Sorenson 360 video-publishing platform for serious … Continue reading “Sorenson Wants to Become King of High-Quality Internet Video”
Battery Ventures Backs ExactTarget, $22M for Tokai Pharmaceuticals, Ironwood Banks $40M in European Deal, & Much Much More Boston-Area Deals News
Sheesh there were a lot of deals last week! Let’s get to it. —Ironwood Pharmaceuticals of Cambridge, MA, earned $40 million in upfront payments as part of a deal giving Barcelona, Spain-based Laboratorios Almirall European development and commercial rights to linaclotide, Ironwood’s experimental drug for irritable bowel syndrome with constipation. The Spanish firm will potentially … Continue reading “Battery Ventures Backs ExactTarget, $22M for Tokai Pharmaceuticals, Ironwood Banks $40M in European Deal, & Much Much More Boston-Area Deals News”
EveryZing Lands $8,250,000 Series C Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=0e2f4be1-1996-43ca-8f8c-3e09b3db1d3b&Preview=1 Date 5/11/2009 Company Name EveryZing Mailing Address 10 Fawcett Street Cambridge, MA 02138 Company Description EveryZing is the most powerful digital media merchandising platform available today. Media companies of all sizes leverage our unique ability to drive the volume of online content consumption and create new and powerful revenue streams. Through … Continue reading “EveryZing Lands $8,250,000 Series C Financing Round”
Avedro, Inc. Receives $10,000,000 Series B Funding Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=02fb7635-7abe-4d01-aeb4-eb8aacc3cb99&Preview=1 Date 5/11/2009 Company Name Avedro, Inc. Mailing Address 230 Third Avenue Waltham, MA 02451 Company Description The company is developing vision correction technologies. Website http://www.avedro.com Transaction Type Venture Equity Transaction Amount $10,000,000 Transaction Round Series B Proceeds Purposes Proceeds purposes were not disclosed. M&A Terms Venture Investor Flagship Ventures Venture Investor … Continue reading “Avedro, Inc. Receives $10,000,000 Series B Funding Round”
HauteLook Receives $10,000,000 New Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=921c2e40-3290-4523-be43-2bc74b7bb362&Preview=1 Date 5/11/2009 Company Name HauteLook Mailing Address 1013 S. Los Angeles St Los Angeles, CA 90015 Company Description HauteLook is an exclusive private shopping club which offers its members branded goods at 40-75% off of retail prices. HauteLook operates a marketplace in which premium fashion & lifestyle brands host their own … Continue reading “HauteLook Receives $10,000,000 New Round”
TimeBridge Garners $5,000,000 Series B Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=9839536e-f291-4099-a2db-7a3c9b11e8dc&Preview=1 Date 5/11/2009 Company Name TimeBridge Mailing Address 1600 Shattuck Avenue Berkeley, CA 94709 Company Description TimeBridge’s one-step scheduling allows users to quickly determine the best time to meet, establish meeting-centric trust networks and automatically provision an online shared meeting space. TimeBridge transforms Microsoft Outlook into a hub for collaborative web services … Continue reading “TimeBridge Garners $5,000,000 Series B Financing”
A Brief Guide to Stimulus Act Funding for Health Information Technologies
A major focus of the American Recovery and Reinvestment Act (Stimulus Act) that President Obama signed in February is to improve the quality and expand the scope of health information technology in the United States. One of the central goals is to develop a nationwide health IT infrastructure and transfer all Americans’ health records to … Continue reading “A Brief Guide to Stimulus Act Funding for Health Information Technologies”
DocuSign Scores $5M More
Seattle-based DocuSign, a digital-signature software startup, has closed $5 million in Series D funding, led by existing investors Frazier Technology Ventures, Ignition Partners, Sigma Partners, and West River Capital. The news was reported by TechFlash and TechCrunch. DocuSign was founded in 2003 and has raised some $30 million in venture funding.
Cytori Expands GE Partnership; Raises More Cash
San Diego’s Cytori Therapeutics (NASDAQ: [[ticker:CYTX]]) said today it has expanded its partnership agreement with GE Healthcare, a unit of General Electric, in which GE Healthcare will commercialize Cytori’s proprietary stem cell technology in North America. No financial terms were disclosed. Under a previous deal in January, GE agreed to commercialize Cytori’s products in ten … Continue reading “Cytori Expands GE Partnership; Raises More Cash”
Seattle Tech Investment Trends and Themes, From Madrona’s Tom Alberg (Part 2)
In the past month, Luke and I had the opportunity to sit down with Tom Alberg, the co-founder and managing director of Seattle’s Madrona Venture Group, for a wide-ranging discussion. In earlier installments, we’ve reported on Alberg’s thoughts about the future of newspapers, as well as the rise of the high-tech innovation cluster in Seattle, … Continue reading “Seattle Tech Investment Trends and Themes, From Madrona’s Tom Alberg (Part 2)”
A Fireside Chat with Irwin Jacobs
The Massachusetts Technology Transfer Center, the Southern New England Entrepreneurs Forum, and MassNetComms present a fireside chat with Qualcomm co-founder and former CEO Irwin Jacobs, who grew up in New Bedford, MA, and has become a major philanthropist supporting educational and non-profit activities in the New Bedford and San Diego areas. The discussion, moderated by … Continue reading “A Fireside Chat with Irwin Jacobs”
Aspen Medtech Shuts Down
Aspen Medtech, a Bellevue, WA-based medical device incubator, has shut down, according to Dow Jones Venture Capital Dispatch. Daniel Hawkins, the former general manager of Aspen Medtech, said it was founded in mid-2007 with $1 million from Prospect Venture Partners and Three Arch Partners, according to the report.
Biotech Exec Sentenced to Probation
Christopher Ma, a former director of business affairs with Auburn, WA-based Syntrix Biochip, was sentenced today in U.S. District Court in Seattle to three years of supervised release, 240 hours of community service, and a $5,000 fine for making false statements. Ma, 35, was accused of submitting false audits to the National Institutes of Health, … Continue reading “Biotech Exec Sentenced to Probation”
So You *Really* Want a Kindle DX? Get One This Month from E Ink for Only $4,000
E Ink, the Cambridge, MA, company that invented the electronic paper technology behind Amazon’s Kindle e-book devices and Sony’s PRS-500 line, announced today that the same 9.7-inch screen going into the new Kindle DX will be available as part of prototype kit that will go on sale this month, before Amazon ships its own device. … Continue reading “So You *Really* Want a Kindle DX? Get One This Month from E Ink for Only $4,000”
Seattle 2.0 Awards Are a Smash; Picnik Cleans Up
In 1939, it was “Gone with the Wind.” 2009’s Academy Awards darling was “Slumdog Millionaire.” And now the Seattle startup community has its own awards sweep: Picnik, the photo-editing software company founded by Mike Harrington and Darrin Massena and led by CEO Jonathan Sposato, took home all four prizes for which it was nominated at … Continue reading “Seattle 2.0 Awards Are a Smash; Picnik Cleans Up”
San Diego Just Beginning to Assess Needs of Emerging Algae Industry
Today is Algae Day plus 10 in San Diego. With all the enthusiasm expressed during the back-to-back events of April 28, I half-expected things would be greener by now. But now the real work begins. The effort is to make San Diego—home of many biologists, entrepreneurs, and lots of sun—nationally recognized as a “big green … Continue reading “San Diego Just Beginning to Assess Needs of Emerging Algae Industry”
Cell Therapeutics Cash To Last Into August
Cell Therapeutics has really been living life on the edge. The Seattle biotech company (NASDAQ: [[ticker:CTIC]]) had just $700,000 in cash left at the end of March, before it got another $6.5 million last month to keep paying the bills. Even after an investor put in another $15 million last month, it’s only enough to … Continue reading “Cell Therapeutics Cash To Last Into August”
Ardea Lays Off Half of Employees
San Diego-based Ardea Biosciences (NASDAQ: [[ticker:RDEA]]) says it has started a corporate restructuring that will reduce its workforce by 47 percent. The company says in their Q1 news release that they are now focused on clinical-stage programs. Ardea had approximately 90 employees. Ardea announced a partnership with Bayer last week in which Ardea takes responsibility … Continue reading “Ardea Lays Off Half of Employees”
Dendreon Sells Shares To Raise $200M For Provenge Manufacturing, Marketing
Dendreon is striking while the iron is hot. The Seattle biotech company said today it is offering 10.7 million new shares of stock to investors, and has hired Deutsche Bank Securities as the sole manager of the offering. Dendreon didn’t disclose the price of the shares, but with its shares trading at $19.50 a share … Continue reading “Dendreon Sells Shares To Raise $200M For Provenge Manufacturing, Marketing”
Why Kindle 2 is the Goldilocks of E-Book Readers
Fans of this column know that I spent months dithering over whether to buy Amazon’s Kindle 2 e-book reader. I had mercilessly panned the original Kindle, mainly for its ungainly looks. And while I was much more impressed by the Kindle 2 when it came out in February, I was put off by the $359 … Continue reading “Why Kindle 2 is the Goldilocks of E-Book Readers”
Novartis Leases Cambridge Property
Swiss drug giant Novartis has signed a long-term lease on property at 181 Massachusetts Ave., in Cambridge, MA, according to a report today in the Boston Globe. MIT reportedly owns the land, where it has a two-acre parking lot. Novartis, which already has the global headquarters of its R&D unit, Novartis Institutes for BioMedical Research, … Continue reading “Novartis Leases Cambridge Property”
Soteira Snags $6.6M in Equity Round
Soteira, a Natick, MA-based medical devices startup, has raised $6.6 million of a proposed $12 million round of private equity financing, according to an SEC filing. The filing does not list the investors in the round, and Soteira CEO Larry Jasinski couldn’t be reached at his office yesterday or today. The company is developing a … Continue reading “Soteira Snags $6.6M in Equity Round”
From MIT Blackjack Team to Amazon Acquisition: The Lexcycle Story
Neelan Choksi says he has an “addictive personality.” That might explain why he carefully orders an orange juice at the espresso bar, while I jack up my caffeine intake with another 12-ounce latte. We’re sitting at the Espresso Vivace in South Lake Union on a quintessentially rainy Seattle afternoon in early May. Choksi’s company, Lexcycle, … Continue reading “From MIT Blackjack Team to Amazon Acquisition: The Lexcycle Story”
Soteira, Inc. Receives $6,600,000 New Funding Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=4f933920-fb71-4901-8cc3-0a1b8fa5f76d&Preview=1 Date 5/8/2009 Company Name Soteira, Inc. Mailing Address 14 Tech Circle Natick, MA 01760 Company Description Soteira, Inc. is developing a system for treatment of vertebral compression fractures in patients with osteoporosis, cancer or traumatic injuries. Soteira’s design provides a superior biomechanical structure and better control of cement flow than other … Continue reading “Soteira, Inc. Receives $6,600,000 New Funding Round”
Tokai Pharmaceuticals Lands $22,000,000 Series D Funding Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=03837a8c-060e-4fd9-9d12-520740733417&Preview=1 Date 5/8/2009 Company Name Tokai Pharmaceuticals Mailing Address One Broadway, 11th floor Cambridge , MA 02142 Company Description The company develops biopharmaceutical products that focus on endocrine treatment. Website http://www.tokaipharmaceuticals.com Transaction Type Venture Equity Transaction Amount $22,000,000 Transaction Round Series D Proceeds Purposes Proceeds from the financing will be used to … Continue reading “Tokai Pharmaceuticals Lands $22,000,000 Series D Funding Round”
DocuSign, Inc. Lands $5,000,000 Series D Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=bfe27694-e128-46c9-98a3-b640d828fe1b&Preview=1 Date 5/8/2009 Company Name DocuSign, Inc. Mailing Address 701 Fifth Avenue Seattle, WA 98104 Company Description DocuSign was founded in 2003 with one goal: to make electronic signatures as ubiquitous and simple as email. DocuSign delivers the final step in the online customer relationship—the ability to complete a legally binding agreement … Continue reading “DocuSign, Inc. Lands $5,000,000 Series D Round”
Enphase Energy Receives $22,600,000 New Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=3ee513c2-4ddb-43a9-bceb-62b52a0a0cc4&Preview=1 Date 5/8/2009 Company Name Enphase Energy Mailing Address 201 1st Street Petaluma, CA 94952 Company Description At Enphase Energy we believe that by combining the power of solar energy and the proven advantages of communications technology, we can change the green energy landscape. Website http://www.enphaseenergy.com Transaction Type Venture Equity Transaction Amount … Continue reading “Enphase Energy Receives $22,600,000 New Round”
Microsoft To Buy BigPark
Microsoft announced today it plans to acquire Vancouver, BC-based BigPark, an interactive online gaming company. Terms of the deal were not disclosed. BigPark will become part of Microsoft Game Studios. The company was co-founded by Hanno Lemke and Don Mattrick, senior vice president of Microsoft’s Interactive Entertainment Business.
Tokai Pharma Reports $22M Round, Developing Drug for Prostate Cancer
[[Updated: see editor’s note below]] Tokai Pharmaceuticals, a Cambridge, MA-based drug developer, says it has landed $22 million in a Series D round of private equity financing. The startup says that its main focus is advancing a new drug for prostate cancer that is unable to be treated with standard testosterone-blocking therapies, according to its … Continue reading “Tokai Pharma Reports $22M Round, Developing Drug for Prostate Cancer”
Targeted Genetics, Mainstay of Gene Therapy, Faces Likely Shutdown
Targeted Genetics, one of the diehards in the field of gene therapy, appears to be near the end of the road. The Seattle-based biotech company said if it is unable to improve its finances by the end of next month, “We plan to begin the process of ceasing operations, seeking bankruptcy protection or otherwise winding … Continue reading “Targeted Genetics, Mainstay of Gene Therapy, Faces Likely Shutdown”
RainDance Reports $6M Financing
RainDance Technologies, a Lexington, MA-based provider of life sciences research products, has raised $6 million of a $12 million round of private equity financing, according to an SEC filing. It’s unclear from the document who invested in the financing, but the firm lists its previous investors on its website. RainDance says its flagship product is … Continue reading “RainDance Reports $6M Financing”
The Promise of Tissue Engineering: Making Regenerative Medicine a Reality
This MIT Enterprise Forum Innovation Series event will address progress in the field of tissue engineering, the future of the science, and the industry that will grow to commercialize it. Program details and registration information on the event web site.
Casenet Captures $5M Financing
Casenet, a Bedford, MA-based provider of clinical care management software, has chased down $5 million in a round of venture capital, according to an SEC filing. The company says that it previously raised $7.5 million in a Series B round of financing announced in November 2007 and led by Boston’s HLM Venture Partners. The firm’s … Continue reading “Casenet Captures $5M Financing”