State Budget Cuts Limit UW’s Ability to Attract Federal Research Funding

Federal stimulus grants from the National Institutes of Health and National Science Foundation do not compensate for cuts in state support to the University of Washington or to other colleges and universities. In fact, state budget cuts have limited the state’s premier research university’s ability to pursue these considerable additional research funds. Headlines such as … Continue reading “State Budget Cuts Limit UW’s Ability to Attract Federal Research Funding”

Pure Bioscience Cuts Indian Distribution Deal

El Cajon, CA-based Pure Bioscience (NASDAQ:[[ticker:PURE]]) today said it has found an Indian distributor for its patented antimicrobial agent, silver dihydrogen citrate. Colorado-based Global Endeavor and its subsidiary Pure-Enviro Biotech in New Delhi have approval from Indian authorities to immediately begin marketing an SDC-based hard-surface disinfectant called Enviroguard in India. Pure CEO Michael Krall told … Continue reading “Pure Bioscience Cuts Indian Distribution Deal”

Sticking to its Guns with Gene Therapy, Genzyme To Present Key Findings Within Days

Dozens of companies have given up on gene therapy after the technology failed to live up to its early promise, but not Genzyme. The world’s largest maker of drugs for genetic diseases has stuck with this field through two decades of ups and downs, and it expects to see important results in coming days on … Continue reading “Sticking to its Guns with Gene Therapy, Genzyme To Present Key Findings Within Days”

Acadia Pharma, Japanese Firm, Strike Deal

Acadia Pharmaceutical has struck a collaboration deal with Tokyo-based firm Meiji Seika Kaisha to develop treatments for schizophrenia and separate neurological disorders for the Japanese market and other parts of Asia, according to a press release. San Diego-based Acadia (NASDAQ:[[ticker:ACAD]]), which has discovered a product candidate related to the deal, says it could receive up … Continue reading “Acadia Pharma, Japanese Firm, Strike Deal”

Spark Capital Launches Startup Seed Fund

[Updated with interview material from Spark Capital general partner Bijan Sabet, see below.] It’s almost the equivalent of the “microloans” phenomenon for the venture world: the profusion of startup schools, bootcamps, incubators, and seed funds that give teams small amounts of money—from a few thousand dollars to a few hundred thousand—to get their ideas up … Continue reading “Spark Capital Launches Startup Seed Fund”

Smarter Speed-Reading: ReadingStream Explores New Ways to Help the Brain Process Text

Like a growing number of Americans, I do most of my reading in front of a laptop or handheld screen. And though I think I read electronic texts a good deal faster than the average person—who by several accounts reads between 200 and 250 words per minute on a screen—I’m open to any technology that … Continue reading “Smarter Speed-Reading: ReadingStream Explores New Ways to Help the Brain Process Text”

San Diego’s Cleantech Cluster: The A to Z List of Clean-Technology and Alternative-Energy Innovation

Who’s Who in San Diego cleantech innovation? At Xconomy San Diego, we wanted to answer that question as completely as possible, so we put together an accounting of all the local companies that are creating new ways to make biofuels, clean the environment, and improve the energy efficiency of our vehicles, homes, and businesses. In … Continue reading “San Diego’s Cleantech Cluster: The A to Z List of Clean-Technology and Alternative-Energy Innovation”

Alnara Leapfrogs Into Phase III, Just Six Months After Getting Started

Most biotech startups wait seven years or more before entering late-stage clinical trials. But Alnara Pharmaceuticals, which is just six months removed from its $20 million first-round financing, has acquired a license to an enzyme-replacement pill in the final stage of development for patients with cystic fibrosis and chronic pancreatitis. Cambridge, MA-based Alnara has licensed … Continue reading “Alnara Leapfrogs Into Phase III, Just Six Months After Getting Started”

The Northwest Biotech Survival Index 2: Companies Scraping By in Downturn

When I last crunched the financial numbers of the Northwest’s life sciences companies in November, the local contingent was taking a beating, and it has only continued. Just three of the 12 publicly-traded life sciences companies in the Northwest—Seattle Genetics, SonoSite, and Dendreon—were really well-positioned to weather this downturn with more than $100 million in … Continue reading “The Northwest Biotech Survival Index 2: Companies Scraping By in Downturn”

Clean Water Boom: Halosource Spreads Purifying Technology Across India, China

The last time I checked in with Bothell, WA-based Halosource in July, it was gaining momentum with a cheap, simple technology for purifying drinking water that was being used by a million people in India. Nine months later, privately held Halosource, a company with just 100 employees, appears to have a hit on its hands. … Continue reading “Clean Water Boom: Halosource Spreads Purifying Technology Across India, China”

New Execs for Exact, Sirtris, and Ischemix; New Deal for Biogen and Aveo; New Money for MedAptus and Claros; & More Boston-Area Life Sciences News

The executive suites of several New England’s biotech and medical device companies saw new faces this week. —Cyberkinetics Neurotechnology Systems (OTC:[[ticker:CYKN]]), a Foxborough, MA-based developer of devices to treat and aid patients with spinal injuries, revealed to the Boston Globe that it is shutting down. Earlier this year Cyberkinetics sold the rights to its Andara … Continue reading “New Execs for Exact, Sirtris, and Ischemix; New Deal for Biogen and Aveo; New Money for MedAptus and Claros; & More Boston-Area Life Sciences News”

LeisureLink, Inc. Garners $6,200,000 New Financing Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=c65e96e1-5754-442b-84f5-840386a00897&Preview=1 Date 3/25/2009 Company Name LeisureLink, Inc. Mailing Address 2555 E. Colorado Blvd Pasadena, CA 91107 Company Description LeisureLink’s mission is to create a distributed electronic marketplace that connects travelers with vacation rental suppliers worldwide. Website http://www.leisurelink.com Transaction Type Venture Equity Transaction Amount $6,200,000 Transaction Round Undisclosed Proceeds Purposes We will use … Continue reading “LeisureLink, Inc. Garners $6,200,000 New Financing Round”

Overland Storage Obtains $5,000,000 New Financing Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=f3f82738-6391-4961-8994-ba042101d798&Preview=1 Date 3/25/2009 Company Name Overland Storage Mailing Address 4820 Overland Avenue San Diego, CA 92123 Company Description Overland Storage is a market leader and innovative provider of smart, affordable data protection appliances that help midrange and distributed enterprises ensure business-critical data is constantly protected, readily available and always there. Overland’s award-winning … Continue reading “Overland Storage Obtains $5,000,000 New Financing Round”

Overland Storage Garners $5,000,000 New Funding

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=f3f82738-6391-4961-8994-ba042101d798&Preview=1 Date 3/25/2009 Company Name Overland Storage Mailing Address 4820 Overland Avenue San Diego, CA 92123 Company Description Overland Storage is a market leader and innovative provider of smart, affordable data protection appliances that help midrange and distributed enterprises ensure business-critical data is constantly protected, readily available and always there. Overland’s award-winning … Continue reading “Overland Storage Garners $5,000,000 New Funding”

Audience Obtains $15,000,000 Series D Financing Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=f367a4c8-52f7-4875-a60d-61a461d8c7ca&Preview=1 Date 3/25/2009 Company Name Audience Mailing Address 440 Clyde Avenue Mountain View, CA 94043 Company Description Audience is a voice processor company that enables clear communications anywhere with noise suppression technology based on the intelligence of the human hearing system. The technology is applicable across a broad range of consumer products … Continue reading “Audience Obtains $15,000,000 Series D Financing Round”

NeoVista Obtains $18,000,000 Series D Financing Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=9c45de3e-c964-4736-b106-9a01ede80b30&Preview=1 Date 3/25/2009 Company Name NeoVista Mailing Address 38875 Cherry St. Newark, CA 94560 Company Description NeoVista, Inc. is developing a novel therapy to treat wet Age-Related Macular Degeneration (AMD) utilizing a Strontium-90 isotope. The delivery is made through a minimally invasive surgical procedure. The NeoVista, Inc. Website http://www.neovista-inc.com Transaction Type Venture … Continue reading “NeoVista Obtains $18,000,000 Series D Financing Round”

Obopay Garners $70,000,000 New Funding

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=486dcfc5-dad3-4363-933e-e74474a02263&Preview=1 Date 3/25/2009 Company Name Obopay Mailing Address 275 Shoreline Drive Redwood City, CA 94065 Company Description With Obopay you can instantly pay back a friend, split a dinner bill, get money from your parents, get quick cash, pay up or collect on a friendly wager, track purchases, check your balance, and … Continue reading “Obopay Garners $70,000,000 New Funding”

Xconomy Forum Preview: Northwest Cleantech Rising this Thursday

It’s shaping up to be a really special event. Xconomy is putting on a forum about cleantech innovation this Thursday evening at K&L Gates in downtown Seattle. Our distinguished panelists will put away their PowerPoint slides and get right down to debating the tough questions. What are the real opportunities in cleantech-meets-software? How should the … Continue reading “Xconomy Forum Preview: Northwest Cleantech Rising this Thursday”

ViaSat Unveils Faster Satellite Broadband Technology

Satellite-based Internet service targeting rural communities and motorists is starting to get up to speed. Carlsbad, CA-based ViaSat (Nasdaq: [[ticker:VSAT]]) says it  demonstrated its next-generation ViaSat-1 satellite net services at a conference today in Washington D.C. ViaSat, which specializes in satellite-based communications technologies, plans to have 2-10 Mbps download speeds available in 22 months. The … Continue reading “ViaSat Unveils Faster Satellite Broadband Technology”

Nanostring CEO Perry Fell Departs

Nanostring Technologies CEO Perry Fell has resigned as CEO, and has been replaced on an acting basis by chief financial officer Wayne Burns. The Seattle-based company, which makes instruments that provide a digital readout for large-scale genomic experiments, shipped its first commercial product in July. The company was founded in 2004, and has raised $17 … Continue reading “Nanostring CEO Perry Fell Departs”

Locale Android App Gets Skyhook

Boston’s Skyhook Wireless and two forty four a.m., the startup behind the Locale location-awareness application for the Google Android mobile operating system, announced today that Locale now includes Skyhook’s XPS hybrid location-finding software. Carter Jernigan of two forty four a.m. says Locale originally tapped into the native GPS and Wi-Fi-based location finding capabilities of Android … Continue reading “Locale Android App Gets Skyhook”

SS&C Buys Evare

SS&C Technologies, a maker of financial management software based in Windsor, CT, announced yesterday that it has acquired Evare, a Burlington, MA company that handles financial data acquisition and transformation for banks, corporations, and asset managers. The companies didn’t reveal the terms of the deal.

San Diego Biotech Hollis-Eden Terminates CEO

Hollis-Eden Pharmaceuticals (NASDAQ: [[ticker:HEPH]]) said in a government filing yesterday that a special committee of the biotech’s board of directors has fired Richard Hollis, the company’s namesake and founding CEO. In its notice, the San Diego company disclosed only that Hollis was terminated on March 18 pursuant to the section of his 1996 employment contract … Continue reading “San Diego Biotech Hollis-Eden Terminates CEO”

Leroy Hood, ISB Scientists Spot Genes For “Mad Cow” Disease; May Lead to Diagnostic Test

A team of scientists led by biotech pioneer Leroy Hood have spotted a set of genes that go haywire in mice infected with a form of “Mad Cow” disease—a finding that could pave the way for more effective early diagnostic tests for the brain-wasting condition in cattle. The new findings are being published online today … Continue reading “Leroy Hood, ISB Scientists Spot Genes For “Mad Cow” Disease; May Lead to Diagnostic Test”

Arena Gets $50M Commitment

Arena Pharmaceuticals, the San Diego-based developer of an obesity drug, said it has received a $50 million equity financing commitment from Azimuth Opportunity. Under the commitment, Arena will decide over the next 18 months when to sell shares to Azimuth at an undisclosed discount to the market price. Arena (NASDAQ: [[ticker:ARNA]]) is awaiting results of … Continue reading “Arena Gets $50M Commitment”

Lionbridge Lays Off 325 Workers

Lionbridge Technologies (NASDAQ:[[ticker:LIOX]]), a Waltham, MA-based provider of software for language translation and other services, will lay off 325 employees or 8 percent of its workforce and consolidate several global operations as part of a restructuring plan, according to a regulatory filing. The plan is expected to save the company $6 million to $9 million … Continue reading “Lionbridge Lays Off 325 Workers”

Free Zinc Browser and Pro Version of ZvBox Breathe New Life into ZeeVee’s Internet Video Technology

ZeeVee, the Littleton, MA-based startup focused on helping people watch high-definition Internet video on their TVs, today introduced a new version of its free video browser. Formerly called Zviewer—and originally designed for the ZvBox, the firm’s PC-to-TV-over-coaxial-cable appliance—the browser is now called Zinc, and runs on any Windows XP or Vista computer. (A Mac version … Continue reading “Free Zinc Browser and Pro Version of ZvBox Breathe New Life into ZeeVee’s Internet Video Technology”

Aveo and Biogen in Antibody Partnership

Aveo Pharmaceuticals and Biogen Idec (NASDAQ:[[ticker:BIIB]]), both based in Cambridge, MA,  have struck a development deal related to Cambridge, MA-based Aveo’s program to discover antibody drugs that target a cellular receptor known as ErbB3, according to Aveo. The cellular receptor is found in abundance on several types of cancer cells and is believed to promote … Continue reading “Aveo and Biogen in Antibody Partnership”

Healionics Takes First Step Toward Glaucoma Treatment, Appoints New CEO

Healionics is taking an important step today toward becoming a commercial business. The Redmond, WA-based company, the two-year-old developer of technology to promote healing around implantable medical devices, has sold and shipped its first product. It has also undergone a leadership shake-up, with CEO Rob Brown stepping aside and being replaced by the company’s former … Continue reading “Healionics Takes First Step Toward Glaucoma Treatment, Appoints New CEO”

How Massachusetts Should Boost Innovation—A Compendium of Reader Ideas (And A Call for More)

How should Massachusetts strengthen and grow its innovation ecosystem? What are the best ways to foster entrepreneurship, improve the high-tech work force, and entice companies, whether here already or thinking about a local presence, to expand in the Bay State? Last month, after witnessing a flurry of talk focused on addressing such issues by rebranding … Continue reading “How Massachusetts Should Boost Innovation—A Compendium of Reader Ideas (And A Call for More)”

Intellectual Ventures Inks India Deal, Ontela Teams with T-Mobile, MDRNA Nabs $7.25M, & More Seattle-Area Deals News

It was a quiet week for deals in the Northwest, with a few partnerships formed in software, biotech, and intellectual property. —Bothell, WA-based MDRNA (NASDAQ: [[ticker:MRNA]]), a developer of RNA interference technology for drug development, agreed to license its technology non-exclusively to Novartis in exchange for $7.25 million in upfront fees, as Luke reported. MDRNA … Continue reading “Intellectual Ventures Inks India Deal, Ontela Teams with T-Mobile, MDRNA Nabs $7.25M, & More Seattle-Area Deals News”

Calixa Passes Key Safety Test in Clinical Trial of New Antibiotic

MRSA is the headline-grabbing boogeyman of the day when it comes to the type of deadly infections that people can pick up in the hospital. But there are all sorts of other nasty bugs crawling around your healthcare facility, and San Diego-based Calixa Therapeutics says it is on its way to creating a new drug … Continue reading “Calixa Passes Key Safety Test in Clinical Trial of New Antibiotic”

Extreme Reach Wins Funding

Needham, MA-based Extreme Reach, whose Web-based software tracks, manages, and delivers video ads across Web, television, and on-demand platforms, announced today that it has raised additional venture funds from a group including new investor Greycroft Partners and existing investors Village Ventures and Long River Ventures. The size of the round wasn’t disclosed, although a company … Continue reading “Extreme Reach Wins Funding”

A New World Order for High-Growth Firms

Many of my friends and neighbors may have noticed that I haven’t been in town as much lately, and that I’m spending more and more of my time in Kansas City. So why would a hardened MIT denizen who used to think that distant travel meant going to Porter Square now be flying back and … Continue reading “A New World Order for High-Growth Firms”

FirstBest Systems Banks $6M Series B Financing, Looks to Help Insurers Overcome Economic Slump

Here’s a firm that may see demand for its products increase due to adverse economics in its target market. FirstBest Systems, a Bedford, MA, provider of underwriting software that could help property and casualty insurers expand their businesses, says it has wrapped up a $6 million second round of financing to ensure its own growth. … Continue reading “FirstBest Systems Banks $6M Series B Financing, Looks to Help Insurers Overcome Economic Slump”

FirstBest Systems, Inc. Receives $6,000,000 Series B Financing Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=8128956d-f967-4984-81c1-d111d16ce08d&Preview=1 Date 3/24/2009 Company Name FirstBest Systems, Inc. Mailing Address 213 Burlington Rd. Bedford, MA 01730 Company Description Founded in 2006, FirstBest Systems®, Inc. is a software and services company providing advanced Underwriting Management Systems™ (UMS) to commercial insurance carriers. Website http://www.firstbest.com Transaction Type Venture Equity Transaction Amount $6,000,000 Transaction Round Series … Continue reading “FirstBest Systems, Inc. Receives $6,000,000 Series B Financing Round”

Xobni Obtains $3,200,000 Series B Funding

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=c1966cbc-b48c-421a-8edd-2ac94066e01a&Preview=1 Date 3/24/2009 Company Name Xobni Mailing Address 539 Bryant St San Francisco, CA 94107 Company Description We started Xobni because we realized there was an amazing opportunity to leverage our abilities in machine learning and statistical modeling to “take back” the email inbox for our users. Website http://www.xobni.com Transaction Type Venture … Continue reading “Xobni Obtains $3,200,000 Series B Funding”

Zeebo Debuts New Game Console for Emerging Market

Zeebo, a San Diego video-game company backed by Qualcomm, today launched the “world’s fourth console” for video games. The company’s strategy, outlined by Zeebo CEO John Rizzo at the Game Developers Conference in San Francisco, is focused on the video-game market in emerging countries. Zeebo is entering an industry dominated by the big three of game consoles: the … Continue reading “Zeebo Debuts New Game Console for Emerging Market”

Mobile Trends: The Cell Phone Body Count

You may not realize it, but your mobile phone is a cold-blooded killer. Its assault began with little fanfare—the first victim, the phone booth, wasn’t particularly well-loved, and nobody was expecting a complete extermination. Yet here we stand in a world where Clark Kent couldn’t find a place to pull on his Supersuit if the … Continue reading “Mobile Trends: The Cell Phone Body Count”

Claros Dx Raises $4M Second Round

Claros Diagnostics, a Woburn, MA-based developer of point-of-care diagnostics for prostate cancer and other diseases, has raised $4 million in a second round of financing, according to a report citing a regulatory filing on website PE Hub. The report doesn’t name the investors in the financing but says the company’s previous backers include Oxford Bioscience … Continue reading “Claros Dx Raises $4M Second Round”

Mzinga Cuts 18% of Workers, CEO Departs

Mzinga, a Burlington, MA, provider of Web-based social media and training software, has laid off 18 percent of its workers, leaving the firm with 170 employees, according to a company blog post. The blog post also revealed that CEO Rick Faulk will be leaving the firm and Barry Libert, the company’s executive chairman, has taken … Continue reading “Mzinga Cuts 18% of Workers, CEO Departs”

Few Carbonite Customers Lost Data in Drive Failure, CEO Says

Saturday’s Boston Globe contained news of a lawsuit filed by Boston-based online backup company Carbonite against two companies that supplied allegedly defective disk drive arrays. Carbonite CEO David Friend confirmed today that that a suit has been filed, but he says he’s concerned that the Globe story—which has been widely re-reported in outlets such as … Continue reading “Few Carbonite Customers Lost Data in Drive Failure, CEO Says”

Jeff Raikes on Backing Agile Sports, a Startup Focused on Football, Built on Microsoft Tech

Even the chief executive of the world’s largest philanthropic institution has a little time for his boyhood passions. Jeff Raikes, the CEO of the Bill & Melinda Gates Foundation, grew up on a ranch near Omaha, NE, rooting for the University of Nebraska Cornhuskers, a national college football powerhouse. Raikes made his fortune at Microsoft, … Continue reading “Jeff Raikes on Backing Agile Sports, a Startup Focused on Football, Built on Microsoft Tech”

Adventrx Pharma Shutting Down

San Diego’s Adventrx Pharmaceuticals, which had 32 employees a year ago, plans to reduce its full-time workforce to five executives and “substantially end” its drug development and business operations as of April 3. The biopharmaceutical company was developing drugs to treat cancer and infectious disease; its lead candidates were novel emulsion formulations of currently marketed … Continue reading “Adventrx Pharma Shutting Down”

SAIC Gets $41M Counter-IED Contract

Science Applications International Corporation (NYSE: [[ticker:SAI]]) said today it recently got a contract to help the U.S. Army counter booby traps known as improvised explosive devices, or IEDs. Under the contract, which could be worth as much as $41 million, SAIC will provide information and analysis used to help counter IEDs in war zones.

MDRNA Nabs $7.25M From Novartis

MDRNA, the Bothell, WA-based developer of RNA interference technology for drug development, said today it agreed to provide a non-exclusive license its technology to Novartis in exchange for $7.25 million in upfront fees. MDNRA (NASDAQ: [[ticker:MRNA]]) also negotiated a separate deal that gives Novartis an exclusive period in which it can strike a larger R&D … Continue reading “MDRNA Nabs $7.25M From Novartis”