Drug Maker Phenomix Lays Off 16 Employees

Phenomix, the privately held San Diego biotech that Luke profiled in February, has laid off 16 employees, according to a spokeswoman for the company. I contacted Phenomix after Xconomy received a tip concerning possible layoffs, and was referred by the company to Pam Lord of the San Diego office of Porter Novelli Life Sciences, who … Continue reading “Drug Maker Phenomix Lays Off 16 Employees”

Amazon Startups Sink, Microsoft Profits Plummet, Sony Scraps with Xbox: Seattle Tech Highlights

There has been lots of activity in the Seattle tech blogosphere (gotta use that word once or twice a year) in the past few days. Some of the most compelling news is about the big local companies and how they’re dealing with major strategic challenges in this economic sandstorm. So far, they have avoided huge … Continue reading “Amazon Startups Sink, Microsoft Profits Plummet, Sony Scraps with Xbox: Seattle Tech Highlights”

SonoSite Lowers Sales Forecast

SonoSite, the Bothell, WA-based maker of portable ultrasound machines, said today in its first-quarter financial report that its annual revenue for 2009 may be flat to down 10 percent compared with the previous year. The company (NASDAQ: [[ticker:SONO]]) said it is responding by cutting expenses 5 to 10 percent, a deeper round of cuts than … Continue reading “SonoSite Lowers Sales Forecast”

Venture Funds Did Badly in 2008—But Maybe Not That Badly

We all know that just about every type of financial performance index for the last year showed a sharp turn downward. This definitely held true for venture capital. The National Venture Capital Association and Thomson Reuters today released Q4 2008 venture capital performance numbers showing that VC funds as a whole—early, balanced, and later stage … Continue reading “Venture Funds Did Badly in 2008—But Maybe Not That Badly”

Obama’s Science and Technology Advisory Council Includes Holdren, Molina, Mundie

President Obama announced today the members of the President’s Council of Advisors on Science and Technology, in remarks made at the National Academy of Sciences in Washington DC. Some members were announced previously, but this is the first time the full council was presented publicly. Obama cited the distinguished council’s “diversity of experience and views,” … Continue reading “Obama’s Science and Technology Advisory Council Includes Holdren, Molina, Mundie”

World Energy Joins NASDAQ

Worcester, MA-based World Energy, which runs online auctions for energy contracts as well as carbon emissions allowances, said today that its stock will be listed on the NASDAQ exchange under the ticker symbol XWES. Since its 2006 IPO, the company has traded only on the Toronto Stock Exchange, under the system XWE. “Gaining increased exposure … Continue reading “World Energy Joins NASDAQ”

Atlas Backs ProtAffin

Waltham, MA-based Atlas Venture and Conshohocken, PA-based SR One, the venture arm of GlaxoSmithKline, co-led a €14.1 million ($18.4 million) Series B round of financing for ProtAffin, according to an announcement from the Austrian biotech startup. Return backers Aescap Venture, Entrepreneurs Fund, and Z-Cube joined the deal, the proceeds from which will be used to … Continue reading “Atlas Backs ProtAffin”

Ethos Seeks to Patent Fuel Additive

San Diego-based Ethos Environmental said today it’s filed for patent protection of its Ethos FR+ fuel additive. Ethos says its fuel additive gives motorists increased fuel mileage, and at least a 30 percent reduction in emissions. The company says its additive was tested at the California Environmental Engineering lab, one of few labs certified by … Continue reading “Ethos Seeks to Patent Fuel Additive”

Crossroads 2009

Crossroads, now in its 16th year, has become the largest venture fair in the eastern United States. Taking place over two days in New Haven, this year’s event will feature select northeastern later stage Tech, IT, and Life Science companies. The fast-paced event is geared to the high-tech, high-growth entrepreneur and investor. Prior companies have … Continue reading “Crossroads 2009”

Down is the New Up: Two Suggestions for How CEOs Can Cope With the Downturn

For the last six months VCs thought they were really funny whenever they used the phrase “flat is the new up.” This crept into the VC lexicon at the beginning of the current crisis to refer to the small victories investors boasted about when raising capital for their portfolio companies. Actually the reality is quite … Continue reading “Down is the New Up: Two Suggestions for How CEOs Can Cope With the Downturn”

Histogen, Back in Startup Mode, Launches Skin Care Products

Our last installment concerning Histogen ended in a cliffhanger. As I reported in February, Histogen CEO Gail Naughton was scrambling to raise funding after a patent infringement lawsuit was filed against her biotech company by SkinMedica, a rival based in nearby Carlsbad, CA. The lawsuit led a group of angel investors to back away from … Continue reading “Histogen, Back in Startup Mode, Launches Skin Care Products”

OVP Invests $1.5M in Cloud Data Storage Startup, Symform

Seattle-based Symform, a small company that provides data storage and backup in the Internet cloud, is announcing today a $1.5 million Series A financing from OVP Venture Partners in Kirkland, WA. This is the first new investment OVP has announced this year; the firm made six follow-on investments last quarter. Managing directors Mark Ashida and … Continue reading “OVP Invests $1.5M in Cloud Data Storage Startup, Symform”

Qualcomm and Broadcom End Patent War, Ink $891M Settlement and Cross-Licensing Deal

San Diego wireless giant Qualcomm (NASDAQ: [[ticker:QCOM]]) and Irvine, CA-based Broadcom (NASDAQ: [[ticker:BRCM]]) said last night they have agreed to end their wide-ranging patent war and enter a broad cross-licensing deal. As part of the global settlement, which terminates litigation in federal court as well as formal disputes before trade commissions in Europe and South … Continue reading “Qualcomm and Broadcom End Patent War, Ink $891M Settlement and Cross-Licensing Deal”

Avila Therapeutics May Have Found “Achilles’ Heel” of Hepatitis C Virus

Avila Therapeutics emerged from stealth mode in December and told Xconomy about its secret sauce to systematically create permanent, covalent bonds with protein disease targets. Now the Waltham, MA-based biotech (pronounced AH-vill-uh) reports that its experimental drug for hepatitis C virus may be able to wipe out multiple variations and mutated forms of the virus. … Continue reading “Avila Therapeutics May Have Found “Achilles’ Heel” of Hepatitis C Virus”

Psylin Neurosciences—-Amylin’s Pysch-Drug Offspring—Nearing First Clinical Trial

There are still great voids in understanding the effects of even approved psychiatric drugs. But there’s no doubt that the business of selling antidepressants and the like can be extremely lucrative. Psylin Neurosciences—a joint venture of San Diego-based Amylin Pharmaceuticals and New York drug research firm PsychoGenics—is very much a product of both of those … Continue reading “Psylin Neurosciences—-Amylin’s Pysch-Drug Offspring—Nearing First Clinical Trial”

No Resolution in Amylin’s Talks With Dissident Investors Carl Icahn and Eastbourne Capital, Anadys Sees Promise in Treatment for Hepatitis C, Chumby Makes Moves into Europe, & Other San Diego BizTech News

We saw the proxy battle for control of San Diego’s Amylin Pharmaceuticals heat up last week, amid signs that wireless technology giant Qualcomm is in peace talks to settle a wide-ranging patent dispute with Broadcom, its Southern California chip-making rival. We also got some new insights into venture capital activity in San Diego, and in … Continue reading “No Resolution in Amylin’s Talks With Dissident Investors Carl Icahn and Eastbourne Capital, Anadys Sees Promise in Treatment for Hepatitis C, Chumby Makes Moves into Europe, & Other San Diego BizTech News”

Newspapers Need Less Paper, More Kindle to Survive, Says Madrona’s Tom Alberg

The death spiral of the newspaper industry is one of the big business stories of 2009, right up there with the free fall of the U.S. auto industry. It’s especially close to my heart as someone who learned the journalism trade at newspapers (including The Seattle Times) before taking the online leap. So when Greg … Continue reading “Newspapers Need Less Paper, More Kindle to Survive, Says Madrona’s Tom Alberg”

Cleaner Water Through Biotech? 349Q Kills Water-Borne Microbes with RNAi

“Biotechnology” and “water purification” aren’t usually themes that you hear mentioned in the same sentence. There are plenty of biotech startups aiming to use cutting-edge molecular approaches like RNA interference (RNAi) to develop profitable new drugs—but fewer people, if any, talk about how these technologies might help people in developing countries where safe drinking water … Continue reading “Cleaner Water Through Biotech? 349Q Kills Water-Borne Microbes with RNAi”

Plas2Fuel Corporation Lands $4,300,000 Series A Funding Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=700550c2-55e8-4299-9787-845a1dbbd879&Preview=1 Date 4/27/2009 Company Name Plas2Fuel Corporation Mailing Address 2300 Talley Way Kelso, WA 98626 Company Description Plas2Fuel, a privately-held alternative energy company, converts mixed waste plastics into synthetic crude oil and other valuable petrochemical products. Website http://www.plas2fuel.com/ Transaction Type Venture Equity Transaction Amount $4,300,000 Transaction Round Series A Proceeds Purposes Proceeds … Continue reading “Plas2Fuel Corporation Lands $4,300,000 Series A Funding Round”

Symform, Inc Receives $1,500,000 Series A Funding Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=61a1ce55-abaf-47bf-8aa8-e413a3e49c9e&Preview=1 Date 4/27/2009 Company Name Symform, Inc Mailing Address 2940 Westlake Ave N Seattle, WA 98109 Company Description Symform is a privately-held company based in Seattle. We are developing cost effective solutions to large scale distributed data management problems. Symform is dedicated to the belief that technology products built on cooperative, decentralized … Continue reading “Symform, Inc Receives $1,500,000 Series A Funding Round”

Visiogen, Inc. Garners $40,000,000 New Funding Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=0cb58a60-3209-40b8-8884-18f10b9a59c6&Preview=1 Date 4/27/2009 Company Name Visiogen, Inc. Mailing Address 2 Goodyear Irvine, CA 92618 Company Description Visiogen, Inc. is focused on developing innovative products for cataract and refractive patients. Founded in Irvine, California, in 2001, Visiogen’s first commercial application, Synchrony®, a dual-optic intraocular lens and pre-loaded injector, is currently in clinical studies … Continue reading “Visiogen, Inc. Garners $40,000,000 New Funding Round”

Airborne Mobile Inc Garners $500,000 New Financing Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=eff5fb53-c5d4-4fa3-815a-53b19f275b7e&Preview=1 Date 4/27/2009 Company Name Airborne Mobile Inc Mailing Address 800 Fifth Avenue Seattle, WA 98104 Company Description Airborne Mobile has blazed a distinctive trail, helping to pioneer, build and establish the burgeoning mobile media space by conceiving, creating and distributing best-of-breed mobile programs. Website http://www.airbornemobile.com Transaction Type Venture Equity Transaction Amount … Continue reading “Airborne Mobile Inc Garners $500,000 New Financing Round”

TiVaMed Garners $6,000,000 Series A Funding Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=4d035bc3-f19a-4b4b-9fa6-81cdf63042de&Preview=1 Date 4/27/2009 Company Name TiVaMed Mailing Address 900 Welch Road Palo Alto, CA 94304 Company Description The company is developing gynecological medical device technology. Website http://www.tivamed.com Transaction Type Venture Equity Transaction Amount $6,000,000 Transaction Round Series A Proceeds Purposes Proceeds purposes were not disclosed. M&A Terms Venture Investor 5AM Ventures Venture … Continue reading “TiVaMed Garners $6,000,000 Series A Funding Round”

Posit Science Corp. Receives $5,600,000 Series C Funding

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=176ae194-f0be-46e6-9d6b-9bd43b389e0b&Preview=1 Date 4/27/2009 Company Name Posit Science Corp. Mailing Address 225 Bush Street Seventh Floor San Francisco, CA 94104 Company Description Posit Science strives to help people flourish throughout their lives. We do this by providing effective, non-invasive tools that engage the brain’s natural plasticity to improve brain health. Website http://www.positscience.com Transaction … Continue reading “Posit Science Corp. Receives $5,600,000 Series C Funding”

Akamai Appeals Limelight Damage Reversal

On Friday a judge in the U.S. District Court of Massachusetts overturned a February 2008 jury verdict that had ordered Tempe, AZ-based content distribution network Limelight Networks to pay Cambridge, MA-based Akamai Technologies $45 million in damages for patent infringement. Limelight successfully challenged the jury award based on new case law. Akamai immediately said it … Continue reading “Akamai Appeals Limelight Damage Reversal”

Vertex’s Telaprevir Passes Test in Tough-To-Treat Hepatitis C Patients

Vertex’s telaprevir is starting to stand the test of time. The experimental drug for hepatitis C is showing today that it can cure about half of the patients who failed to respond to standard treatments. That’s about triple the cure rate for patients who tried a second round of the existing drugs. The latest findings … Continue reading “Vertex’s Telaprevir Passes Test in Tough-To-Treat Hepatitis C Patients”

TechFlash LIVE

Join John Cook, Todd Bishop, Eric Engleman and the rest of the TechFlash team as they bring together some of the region’s top tech companies and personalities for this unique networking event. The featured speaker is Ben Huh, founder and Chief Cheezburger at Seattle-based Pet Holdings, operator of I Can Has Cheezburger, Fail Blog, Engrish … Continue reading “TechFlash LIVE”

X-Prize Founder Peter Diamandis and the Enormous Incentive

The San Diego MIT Enterprise Forum is sponsoring an evening with Peter Diamandis, creator of the $10 million X Prize that ignited a privately funded space race that ended in 2004 with the successful flights of SpaceShipOne. Diamandis, who is now chairman and CEO of the X Prize Foundation, will discuss the prize model for … Continue reading “X-Prize Founder Peter Diamandis and the Enormous Incentive”

Oprah Grabs Some Bacon Salt; Seattle Startup Is Freaking Out

[Updated April 25 with this behind-the-scenes video clip of the Oprah interview] I just got off the phone with Justin Esch of South Seattle-based Bacon Salt. He and fellow founder Dave Lefkow went on The Oprah Winfrey Show this morning, and were in their office watching the 7-8 minute segment, which just aired on the … Continue reading “Oprah Grabs Some Bacon Salt; Seattle Startup Is Freaking Out”

Gov. Gregoire’s Life Sciences Discovery Fund Survives Budget Axe

One of Gov. Chris Gregoire’s prime strategies for economic development was threatened with a death sentence, but it looks like the plan will survive after all, albeit in diminished form. The House compromise budget released online calls for $38 million in funding for the Life Sciences Discovery Fund over the next two-year budget cycle. This … Continue reading “Gov. Gregoire’s Life Sciences Discovery Fund Survives Budget Axe”

MITX Digital Strategy Series: Who Owns Data?

Register for this MITX event and you’ll create a data record. By the end of this session, you may have a better idea about who owns it. Or not, but the debate should be interesting. Details and registration information on the event web site.

Social Media Summit: What’s the ROI of Social Media?

Investment in employee blogs, Twitter, YouTube, customer communities and other social media keeps growing, but what is it worth? As the use of social media grows, practitioners are getting down to the practical issues of deciding what to measure and how to quantify results. The morning keynote, breakout sessions, and workshop at this half-day event … Continue reading “Social Media Summit: What’s the ROI of Social Media?”

2009 Sustainable Energy Summit

UMass Amherst and Co-op Power team up to present this year’s Sustainable Energy Summit with the theme “This is the Year! Now is the Hour!” This two-day event includes exhibitors, keynote speakers, childrens’ programming, and professional training for “green jobs.” Schedule and regitration information can be found at the Co-op Power web site.

How Not to Work for The Man: Jonathan Sposato on Life at Picnik, Microsoft, and Google

Every once in a while, you meet an entrepreneur who rocks your world. I mean, most of them are impressive, but as they say on ESPN, Jonathan Sposato is ridiculous. And so is the rest of his team at Picnik, an online photo-editing startup based near Pike Place Market in Seattle. A lot has been … Continue reading “How Not to Work for The Man: Jonathan Sposato on Life at Picnik, Microsoft, and Google”

Seattle Has Performed CPR on Global Health, Says Famed Doctor Paul Farmer

You know you’re a global health rock star when you can tease the Bill & Melinda Gates Foundation on its home turf and get away with it. That was what Paul Farmer did last night as the keynote speaker for the Seattle Biomedical Research Institute’s Passport to Global Health fundraiser. Farmer is best known as … Continue reading “Seattle Has Performed CPR on Global Health, Says Famed Doctor Paul Farmer”

Let’s Talk About Tomorrow, People—at Next Week’s Xconomy Biotech Forum

My mental soundtrack the last few weeks has been heavily weighted toward Ziggy Marley’s cheestastic “Tomorrow People,” and I’ll tell you one of the reasons why: I’m getting really excited about our upcoming Xconomy Forum, called Tomorrow’s Biotech—Innovators and Innovations. I’ll confess to not quite getting what Mr. Marley meant by this idea of tomorrow … Continue reading “Let’s Talk About Tomorrow, People—at Next Week’s Xconomy Biotech Forum”

Boston-area Mobile Investments Spike to $215 Million in First Quarter

Investors put $215 million into mobile technology companies in the Boston area in the first quarter of 2009, according to figures released today by Mobile Monday Boston, the local chapter of the global association for mobile professionals. That’s the largest amount raised by the mobile sector in the last five quarters, and it went to … Continue reading “Boston-area Mobile Investments Spike to $215 Million in First Quarter”

Cleantech Venture Investors See Potential Boon in Federal Stimulus Funding

If there was a theme in the first session of the Cleantech Capital Summit that convened in San Diego yesterday, it’s that government spending on cleantech projects in 2009 will easily dwarf whatever investments in “green” deals the VC industry can muster. No surprise there. As we reported over the weekend, total U.S. venture investing … Continue reading “Cleantech Venture Investors See Potential Boon in Federal Stimulus Funding”

Zymo Drug Kills Hep C Virus

ZymoGenetics (NASDAQ: [[ticker:ZGEN]]), a Seattle biotech company, and partner Bristol-Myers Squibb said today that a drug they are co-developing for hepatitis C was able to kill the virus with minimal side effects in a small four-week study. The trial looked at pegylated interferon lambda on its own, or in combination with a standard ribavirin treatment. … Continue reading “Zymo Drug Kills Hep C Virus”

Cutting the Cable: It’s Easier Than You Think

In a column published last July, I vacillated publicly about whether it was time to stop paying extortionate rates to my local cable provider, Comcast, for the privilege of watching 17 minutes of commercials with every hour of programming. Well, it took me a while, but in early March I finally cut the cord. I … Continue reading “Cutting the Cable: It’s Easier Than You Think”

Biogen Idec To Show Off MS Drugs at Seattle Neurology Meeting

Biogen Idec is the world’s largest maker of multiple sclerosis drugs, and to keep it that way, the company needs to stay on the good side of neurologists. So when a large number of these docs get together for a scientific meeting, it’s time to start wooing. This is at the top of Biogen’s agenda … Continue reading “Biogen Idec To Show Off MS Drugs at Seattle Neurology Meeting”

Why Should the Public Care About Biotech? Why is the Answer Always Jobs?

Why isn’t public health important enough? This is what I wondered, sitting in a press conference yesterday at Seattle Children’s Hospital Research Institute, listening to high government and business officials talk about the urgent need to foster greater public understanding of biotechnology and why it matters to the future of Washington state and our country. … Continue reading “Why Should the Public Care About Biotech? Why is the Answer Always Jobs?”

Brightcove Forges Adobe Alliance, Investors Give in to DemandWare’s $15M Demands, Fate Therapeutics and Stemgent Team Up on Stem Cell Tech, & More Boston-Area Deals News

There’s much to report from New England’s tech and life sciences sectors this week. Let’s get started. —Clarus Ventures of Cambridge, MA, joined with the likes of InterWest Partners and Arch Venture Partners to lead a $10 million Series A financing for Ann Arbor, MI-based Lycera. The startup is developing treatments for autoimmune diseases based … Continue reading “Brightcove Forges Adobe Alliance, Investors Give in to DemandWare’s $15M Demands, Fate Therapeutics and Stemgent Team Up on Stem Cell Tech, & More Boston-Area Deals News”

Opscode Garners $2,500,000 Series A Financing Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=a89c39ea-af7b-4c6d-aeaf-11c1303902cc&Preview=1 Date 4/24/2009 Company Name Opscode Mailing Address Undisclosed Seattle, WA 98104 Company Description Opscode is building the best systems integration and automation platform on the planet. We are some of the most respected and well-known systems engineers, software developers, and systems architects in the world, who have built or designed web … Continue reading “Opscode Garners $2,500,000 Series A Financing Round”

Plas2Fuel Corporation Secures $4,250,000 Series A Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=700550c2-55e8-4299-9787-845a1dbbd879&Preview=1 Date 4/24/2009 Company Name Plas2Fuel Corporation Mailing Address 2300 Talley Way Kelso, WA 98626 Company Description Plas2Fuel, a privately-held alternative energy company, converts mixed waste plastics into synthetic crude oil and other valuable petrochemical products. Website http://www.plas2fuel.com/ Transaction Type Venture Equity Transaction Amount $4,250,000 Transaction Round Series A Proceeds Purposes Proceeds … Continue reading “Plas2Fuel Corporation Secures $4,250,000 Series A Round”

Appature, SEOmoz on Top Techie List

BusinessWeek’s list of Best Young Tech Entrepreneurs 2009, announced today, includes Seattle-area startup whiz kids Rand Fishkin, 29, of SEOmoz and Kabir Shahani, 26, of Appature. SEOmoz, a search engine optimization startup, is backed by Ignition Partners and Curious Office Partners, while Appature, a health-care marketing firm, is self-funded.