In case you haven’t noticed it, the recovery is underway. The economy is affecting all aspects of business, of course. But every day here at Xconomy we write about the unrelenting pace of innovation and see firsthand how, if anything, the pace has picked up during the recession—nothing like hard times to get the creative … Continue reading “The Recovery Starts Here—Xconomy Announces XSITE 2009 Event to Celebrate Innovation in New England”
Kalido Collects $5.1 Million for Data Warehouse Management
Burlington, MA-based Kalido, which makes software that helps companies make better use of historical business data, has secured $5.15 million in Series E venture funding, according to documents filed yesterday with the Securities and Exchange Commission. Existing investors Atlas Venture and Matrix Venture Partners led the round, $3.1 million of which has been collected so … Continue reading “Kalido Collects $5.1 Million for Data Warehouse Management”
Amazon Invests in Foodista
Seattle-based Foodista, an online cooking encyclopedia and wiki, has raised Series A funding from Amazon and other angel investors. The news was reported by PE Hub and TechCrunch, which said the amount of funding was $550,000. Foodista was launched in December by Amazon veterans Barnaby Dorfman and Sheri Wetherell.
Vical Within Days of Prototype H1N1 Vaccine
San Diego’s Vical (NASDAQ: [[ticker:VICL]]) said today it has the necessary genetic sequence and plans to produce a prototype vaccine for the H1N1 influenza, aka Swine Flu, “within the next few days.” Yesterday, Vical announced it has entered into an agreement with the U.S. Naval Medical Research Center (NMRC), a biomedical research organization within the … Continue reading “Vical Within Days of Prototype H1N1 Vaccine”
Qualcomm Launches QPrize Competition
Joining in the latest wave of funding innovation, San Diego’s Qualcomm (NASDAQ: [[ticker:QCOM]]) today launched a new international business plan competition called the QPrize. In a short announcement, the wireless chipmaker said its corporate venture fund has created a pool of $550,000 to provide early stage funding to the most-promising plans submitted by entrepreneurs “who … Continue reading “Qualcomm Launches QPrize Competition”
Battery in $70M Round at ExactTarget
Battery Ventures, a venture firm with an office in Waltham, MA, has led a $70 million financing round for e-mail marketing software firm ExactTarget, according to a press release. ExactTarget, which is headquartered in Indianapolis, has also withdrawn plans for an initial public offering. As part of the sizable venture deal, Battery general partner Michael … Continue reading “Battery in $70M Round at ExactTarget”
The Fastest Growing Anti-Virus Software Developer You’ve Never Heard Of
The economy might be stalling, but sales of anti-virus software developed by San Diego-based Eset, which have been almost doubling every year since 2005, are rising fast at the beginning of a classic S-shaped curve of market penetration. I know this because Eset’s founding CEO Anton Zajac, who began his career as a theoretical physicist … Continue reading “The Fastest Growing Anti-Virus Software Developer You’ve Never Heard Of”
A123Systems Founder and MIT’s Cima Behind Startup Entra Pharmaceuticals
More clues about stealthy drug-delivery startup Entra Pharmaceuticals surfaced yesterday on Boston Globe columnist Scott Kirsner’s blog. It turns out that the technical whizzes behind Entra are Yet-Ming Chiang, an MIT engineering professor and founder of Watertown, MA-based advanced battery developer A123Systems, and Michael Cima, another MIT engineering professor, who is a co-founder of life … Continue reading “A123Systems Founder and MIT’s Cima Behind Startup Entra Pharmaceuticals”
XSITE 2009: The Recovery Starts Here
High-tech, life-sciences, and energy innovation may well hold the key to the nation’s economic health and long-term competitiveness. And as a hotbed of American innovation, New England is poised to become a key driver of economic recovery in the U.S. This full-day conference will celebrate New England innovation and showcase the panorama of transformative efforts … Continue reading “XSITE 2009: The Recovery Starts Here”
Genzyme Offers Glimpse at Growth Engine, New Drugs for High Cholesterol, Gaucher’s
Genzyme is getting to the point where the law of large numbers start to look really daunting. The Cambridge, MA-based biotech company has been so successful for so long, it gets harder every year to sustain the breakneck sales and profit growth that investors in the company have come to expect. So what to do? … Continue reading “Genzyme Offers Glimpse at Growth Engine, New Drugs for High Cholesterol, Gaucher’s”
Dendreon’s Hiring Binge, Calistoga’s Venture Round, ZymoGenetics Unloads Drugs, & More Seattle-Area Life Sciences News
Biotech is a volatile business, and this week hammered home that point. Seattle had layoffs at one important device company (Pathway Medical), a hiring boom at another (Dendreon), and a national report that had some humbling stats about the local life sciences scene. —Dendreon is moving ahead fast to make the most of its good … Continue reading “Dendreon’s Hiring Binge, Calistoga’s Venture Round, ZymoGenetics Unloads Drugs, & More Seattle-Area Life Sciences News”
Brighter Planet Rolls Out Social Web App to Lower Carbon Footprints
Most of us want to help curb global warming, but the tricky part can be how to do our part without splurging on a shiny new Prius or some other expensive measure. Vermont’s Brighter Planet has spent the last few years building a business around providing products and services that help people and businesses cut … Continue reading “Brighter Planet Rolls Out Social Web App to Lower Carbon Footprints”
BakBone Gets a Bargain in $3M Purchase of Asempra’s Technologies
It looked like a small deal when San Diego-based data backup and recovery company BakBone Software acquired the assets of Santa Clara, CA-based Asempra Technologies earlier this week. BakBone shares trade over-the-counter, and the company’s press release mentioned that only $350,000 in cash changed hands. In fact, the value of the overall, cash-and-stock transaction was approximately $3 … Continue reading “BakBone Gets a Bargain in $3M Purchase of Asempra’s Technologies”
The Rise of Seattle’s High-Tech Cluster, As Told By Madrona’s Tom Alberg (Part 1)
One of the great pleasures of being a journalist is listening to influential leaders discuss where they come from and how it affects their strategy. Luke and I recently sat down with Tom Alberg, co-founder and managing director of Seattle-based Madrona Venture Group. In addition to sharing his thoughts on the future of newspapers and … Continue reading “The Rise of Seattle’s High-Tech Cluster, As Told By Madrona’s Tom Alberg (Part 1)”
Ironwood Inks $40M Deal with Laboratorios Almirall, CombinatoRx and Novartis Seek Combo Cancer Drugs, NABsys Nabs $4M, & More Boston-Area Life Sciences Deals
This past week produced a cornucopia of life sciences news, including new partnerships, personnel and real estate changes, venture deals, and some intriguing science. —A team led by UMass Medical School researcher Michael Czech, co-founder of Worcester, MA-based RXi Pharmaceuticals (NASDAQ: [[ticker:RXII]]), reported in the journal Nature that it has come up with an oral … Continue reading “Ironwood Inks $40M Deal with Laboratorios Almirall, CombinatoRx and Novartis Seek Combo Cancer Drugs, NABsys Nabs $4M, & More Boston-Area Life Sciences Deals”
Will Mobile Apps Live Up to the Hype? A View from the iPhone Trenches
I could not be more bullish about smartphones as a platform. The center of gravity in computing is shifting, and the mobile device in your pocket will play a greater and greater role in your life in ways that the non-dreamers among us never thought possible. As the capabilities of these devices increase, there are … Continue reading “Will Mobile Apps Live Up to the Hype? A View from the iPhone Trenches”
Tokai Pharmaceuticals Receives $10,000,000 New Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=03837a8c-060e-4fd9-9d12-520740733417&Preview=1 Date 5/7/2009 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 $10,000,000 Transaction Round Undisclosed Proceeds Purposes Proceeds purposes were not disclosed. M&A Terms Venture Investor … Continue reading “Tokai Pharmaceuticals Receives $10,000,000 New Round”
VKernel Garners $7,000,000 Series B Funding
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=5b2eeeac-a132-41db-bdb2-87db06c6ac5c&Preview=1 Date 5/7/2009 Company Name VKernel Mailing Address 222 International Drive Portsmouth, NH 03801 Company Description VKernel is dedicated to developing best-of-breed virtual appliances that enhance performance, lower costs, and simplify management of virtual environments of all sizes. As a certified VMware partner, VKernel offers the industry’s only VMware certified virtual appliances … Continue reading “VKernel Garners $7,000,000 Series B Funding”
CaseNET Inc. Lands $5,000,000 New Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=249e70ae-4b9b-4800-8f50-b01ca46e9a77&Preview=1 Date 5/7/2009 Company Name CaseNET Inc. Mailing Address 23 Crosby Drive Bedford, MA 01730 Company Description The company is a developer of care management software for workers’ compensation and health care organizations. Website http://www.casenetinc.com Transaction Type Venture Equity Transaction Amount $5,000,000 Transaction Round Undisclosed Proceeds Purposes Proceeds purposes were not disclosed. … Continue reading “CaseNET Inc. Lands $5,000,000 New Financing”
Foodista Inc Receives Series A Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=e994e73f-4d6f-42d3-bd8d-767064d4516a&Preview=1 Date 5/7/2009 Company Name Foodista Inc Mailing Address 24 Roy Street Seattle, WA 98109 Company Description Foodista, Inc. is a Seattle company that operates http://www.foodista.com, the online cooking encyclopedia everyone can edit. The company leverages open source software, cloud computing resources, and wisdom of the crowds to rapidly develop cooking software … Continue reading “Foodista Inc Receives Series A Financing”
Sadra Medical Obtains $30,000,000 New Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=d2968372-82e8-4577-80b2-2635fb0aec44&Preview=1 Date 5/7/2009 Company Name Sadra Medical Mailing Address 160 Knowles Drive Los Gatos, CA 95032 Company Description Sadra Medical is dedicated to developing innovative new therapies for the treatment of aortic valve disease. By developing minimally invasive alternatives to traditional surgical valve replacement, the company seeks to help improve patient care … Continue reading “Sadra Medical Obtains $30,000,000 New Financing Round”
AllSeniorHomes Launches Elder Care Site
Seattle-based AllSeniorHomes.com rolled out its beta site today, an online directory of elder housing communities in Washington and Oregon. The site helps match families with senior care providers and senior housing. The startup was founded by Jay Goldstein and Chris Rodde, formerly of All Star Directories.
Take My Wallet, Just Leave My SSN!
Americans are more concerned about someone stealing their Social Security Number (SSN) than their wallet, laptop, or purse, according to a survey released today by Ipsos and San Diego-based ID Analytics. Three in five Americans identified their SSN as the personal item they are most concerned about if someone breaks into their home. Almost 60 … Continue reading “Take My Wallet, Just Leave My SSN!”
Acucela Drug for Macular Degeneration Passes Early Safety Test
Acucela, the Bothell, WA-based biotech company, is on a mission to develop the first effective treatment for the leading cause of blindness in elderly people. Today, it is presenting some preliminary data that shows its drug has passed an early safety test and is ready to advance to the next phase, in which it begins … Continue reading “Acucela Drug for Macular Degeneration Passes Early Safety Test”
Dumb, Getting Dumber?
Science journalist and author Chris Mooney will give a talk about his next book, “Unscientific America,” about the effects of science illiteracy in the general public. Mooney will be joined by local experts, including Dennis Schatz of the Pacific Science Center, Steve Jones of Washington State University, and Sandra Archibald of the University of Washington’s … Continue reading “Dumb, Getting Dumber?”
HelpHive Rolls Out Home Services Site
Seattle-based HelpHive has launched today an online marketplace for home owners and home service providers. The beta version of the site includes some 6,500 listings in the Seattle-Tacoma area for services like home repair, home improvement, maintenance, and cleaning. HelpHive was founded by Real Networks veterans Dave Richards and Karim Meghji, and has been in … Continue reading “HelpHive Rolls Out Home Services Site”
Dendreon Plans to Raise Cash for Manufacturing, Marketing
Dendreon is gearing up to raise more cash. The Seattle biotech company disclosed today in its quarterly report that it had $91.2 million in cash and investments on hand on March 31, an amount that “will not be sufficient” to pay all the bills over the next 12 months as it ramps up to market … Continue reading “Dendreon Plans to Raise Cash for Manufacturing, Marketing”
SeeWhy Raises $4.5M, Launches Free Tool
Andover, MA-based SeeWhy makes “abandonment tracking” tools that websites can use to reconnect with Web visitors who leave before consummating a purchase or finishing an online form, application, or registration. Today the company announced that it has connected with new investor Scottish Enterprise and existing investors Logispring, Pentech Ventures, and Delta Partners to add $4.5 … Continue reading “SeeWhy Raises $4.5M, Launches Free Tool”
VKernel Raises $7.1M B Round
Portsmouth, NH-based VKernel, which makes software that helps companies extract better performance from virtualized servers, has raised $7.06 million in Series B venture funding, according to documents filed yesterday with the Securities and Exchange Commission. New investor Longworth Venture Partners led the round, which was joined by existing investors Polaris Venture Partners and Hummer Winblad … Continue reading “VKernel Raises $7.1M B Round”
Lux Capital’s Larry Bock and Josh Wolfe Warm to Venture Deals Despite Nuclear Winter
Since it began raising its second venture fund several years ago, New York-based Lux Capital has only invested in one startup in the San Diego region—Carlsbad’s Luxtera, which specializes in developing technologies to eliminate the bottlenecks in fiber optic networks for computers. (Luxtera got $26.7 million in a later-stage venture round at the end of … Continue reading “Lux Capital’s Larry Bock and Josh Wolfe Warm to Venture Deals Despite Nuclear Winter”
A New Nexus for Nomadic Entrepreneurs at the Cambridge Innovation Center
As any freelancer or self-employed person will tell you, working alone can be isolating—but the alternative, hanging out at Starbucks all day, can drain your wallet and lead to overcaffeination. Fortunately, if you’re the type who needs a little company, collaboration, and commotion to get real work done, there are a few new places to … Continue reading “A New Nexus for Nomadic Entrepreneurs at the Cambridge Innovation Center”
Global Competitiveness Summit
Snohomish County Executive Aaron Reardon is hosting a Global Competitiveness Summit on May 13, along with a panel of some of the state’s most influential angels, architects and builders of future business and industry, in an important discussion on how to improve our state’s business climate. Brent Frei, co-founder of SmartSheet; Eric Dobmeier, chief business … Continue reading “Global Competitiveness Summit”
Archemix Names Bate CEO
Archemix, a Cambridge, MA-based biotech startup developing aptamer drugs, reports that Kenneth Bate will replace Duncan Higgons as CEO of the company. Higgons, who had become chief executive of the firm in January, is taking a job with another private biotech firm, according to Archemix. Bate was most recently president and CEO of Lexington, MA-based … Continue reading “Archemix Names Bate CEO”
CombinatoRx Cuts Deal for Cancer Drug Discovery with Novartis
CombinatoRx, the Cambridge, MA-based firm focused on the discovery and development of combination drugs, says it has inked a new alliance with Swiss pharmaceutical giant Novartis to use its technology to find combo treatments for cancer. The deal provides CombinatoRx (NASDAQ:[[ticker:CRXX]]) with an upfront payment of $4 million and a bit of good news after … Continue reading “CombinatoRx Cuts Deal for Cancer Drug Discovery with Novartis”
AVI Wins Part of $2.5M Contract
AVI Biopharma, the Portland, OR-based developer of RNA-based therapies, said today it has been awarded part of a $2.5 million contract from the U.S. Department of Defense to develop a drug for Duchenne Muscular Dystrophy. The contract, awarded to researchers at the Children’s National Medical Center in Washington D.C., will support animal studies to develop … Continue reading “AVI Wins Part of $2.5M Contract”
Small Businesses Will Inherit the Earth
The economy is forcing companies of all sizes to do more with less. The big winners are increasingly the small businesses and specialized sole proprietors. On one hand, they provide the “just in time” component services no longer staffed at the downsized firms, and on the other, they are adept at operating with lean resources … Continue reading “Small Businesses Will Inherit the Earth”
How Foundry Group Got the Gist of T.A. McCann’s Startup: Anatomy of a Software Deal
Every deal has a back story you can learn from. In the case of Gist—the Seattle software startup that announced yesterday it raised $6.75 million in Series A funding from Foundry Group and Vulcan Capital—the key connection came about because of a timely combination of blogs and social networks. Which is fitting because Gist is … Continue reading “How Foundry Group Got the Gist of T.A. McCann’s Startup: Anatomy of a Software Deal”
Take a Deep Breath, Collect Cash: Zendesk Wins Venture Financing for Help-Desk Software
Almost by definition, anyone who gets to the point of submitting an online help request to a software or services company is frustrated, possibly even angry. Responding to a flood of help requests constructively takes calmness and strength—and that’s what Zendesk, a help desk management outsourcing company, tries to supply to its own customers, including … Continue reading “Take a Deep Breath, Collect Cash: Zendesk Wins Venture Financing for Help-Desk Software”
Dendreon Goes on Hiring Binge After Prostate Cancer Drug Boosts Survival
Dendreon partied at a medical meeting last week in Chicago after it showed that its immune-stimulating therapy could extend the lives of prostate cancer patients with minimal side effects. Now the biotech company is fast at work again, looking to hire 60 new people to make sure it performs all the work necessary to turn … Continue reading “Dendreon Goes on Hiring Binge After Prostate Cancer Drug Boosts Survival”
SeeWhy Inc Receives $4,500,000 Series B Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=d8447797-9d33-4679-abf3-9cf90c012b34&Preview=1 Date 5/6/2009 Company Name SeeWhy Inc Mailing Address 200 Brickstone Square Andover, MA 01810 Company Description SeeWhy delivers breakthrough improvements in website conversion with its Abandonment Tracker family of “on demand” services. Re-marketing to abandoned visitors using the SeeWhy service re-converts up to 50% of visitors who abandon their shopping carts, … Continue reading “SeeWhy Inc Receives $4,500,000 Series B Financing Round”
Zendesk Garners Series A Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=0ffabb8a-04fb-4634-a9aa-bc6820baeeb4&Preview=1 Date 5/6/2009 Company Name Zendesk Mailing Address 107 South Street Boston, MA 02211 Company Description Zendesk is inspiring the help desk 2.0 movement through a focus on enlightened customer support. By leveraging the benefits of Web-based communications and social media, Zendesk extends good help desk karma to any company looking to … Continue reading “Zendesk Garners Series A Round”
Silicon Valley Technology Center Lands $34,000,000 New Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=05fcfdfa-d97a-4b62-ae4b-16bb1445f630&Preview=1 Date 5/6/2009 Company Name Silicon Valley Technology Center Mailing Address 3901 North First Street San Jose, CA 95134 Company Description SVTC provides its novel-silicon development customers access to two state-of-the-art, IP-secure development fabs – in San Jose, California, and Austin, Texas – with a full complement of 200 mm (8-inch) and … Continue reading “Silicon Valley Technology Center Lands $34,000,000 New Financing”
WonderHill Garners $7,000,000 Series A Funding Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=82a868f5-382d-4236-93e6-aa78df13644a&Preview=1 Date 5/6/2009 Company Name WonderHill Mailing Address 703 Market Street San Francisco, CA 94103 Company Description WonderHill creates social games for you to play with your friends and family online. When building games, we think of the kind, clean, unspoiled spot down deep inside every one of us, that maybe the … Continue reading “WonderHill Garners $7,000,000 Series A Funding Round”
Autonomic Technologies Receives $20,000,000 Series B Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=a54e2d22-4409-420e-ac40-f99082d90509&Preview=1 Date 5/6/2009 Company Name Autonomic Technologies Mailing Address 2750 Sand Hill Road Menlo Park, CA 94025 Company Description The company is developing neurostimulation devices. Website Undisclosed Transaction Type Venture Equity Transaction Amount $20,000,000 Transaction Round Series B Proceeds Purposes Proceeds purposes were not disclosed. M&A Terms Venture Investor InterWest Partners Venture … Continue reading “Autonomic Technologies Receives $20,000,000 Series B Round”
NextWave Changes Management
San Diego’s NextWave Wireless (NASDAQ: [[ticker:WAVE]]) said today its Chairman, CEO, and President Allen Salmasi “has transferred the day-to-day operating role” of CEO and President to James Brailean, who heads NextWave’s PacketVideo subsidiary. The company’s COO and CFO have both resigned. NextWave Wireless, founded in 2005, develops embedded multimedia software for mobile devices,and has had … Continue reading “NextWave Changes Management”
Neurocrine Cuts Half of Workforce
San Diego’s Neurocrine Biosciences (NASDAQ: [[ticker:NBIX]]) said today it’s eliminating approximately 60 employees, or half its workforce, to focus on developing its lead drug candidates and other “high value assets.” The biopharmaceutical’s is developing elagolix to treat endometriosis, which causes pelvic pain in women, and other compounds for potential use treating neurological and endocrine diseases … Continue reading “Neurocrine Cuts Half of Workforce”
Illumina Sues Affymetrix for Patent Infringement of Genetic Analysis Technology
Illumina (NASDAQ: [[ticker:ILMN]]), the San Diego-based developer of genetic analysis systems, said today it has filed a patent infringement suit in federal court in Madison, WI, against Affymetrix (NASDAQ: [[ticker:AFFX]]), the Santa Clara, CA-based maker of semiconductor-based “GeneChip” technology. The suit asserts that a variety of array plate products and a related scanner sold by … Continue reading “Illumina Sues Affymetrix for Patent Infringement of Genetic Analysis Technology”
ZymoGenetics Drug Sales Still Slumping After Full Year on Market
ZymoGenetics is still struggling to generate sales from its lone commercial product. The Seattle biotech company said today it had $4.5 million in sales of recombinant thrombin (Recothrom) for surgical bleeding in the first quarter, which is down slightly from $4.7 million in the previous quarter. The trend can’t be encouraging, although ZymoGenetics (NASDAQ: [[ticker:ZGEN]]) … Continue reading “ZymoGenetics Drug Sales Still Slumping After Full Year on Market”
Dendreon Execs Sell Shares
Dendreon CEO Mitchell Gold and other executives sold big stakes in the company a day after reporting positive results of their immune-stimulating drug for prostate cancer, according to this Dow Jones report. Gold sold 600,000 shares of the company at $24.92 apiece on April 29, generating gross proceeds of $15 million, according to this filing … Continue reading “Dendreon Execs Sell Shares”
MIT Sloan Business in Gaming
What’s the BiG idea? At this, the first annual installment of the Business in Gaming conference, it’s “Marketing and Distribution in the Digital Age”—which will examine innovative ways to market and distribute games cheaply but effectively through digital media. Bonus for distracted conference attendees—gaming stations available all day! Details and registration information at the conference … Continue reading “MIT Sloan Business in Gaming”