Xconomy Forum: Tomorrow’s Biotech—Innovators and Innovations

New England is home to a dazzling array of today’s most successful biotech inventors, companies, and technologies. But who are the innovators who will help perpetuate our region’s global lead in life sciences in the years and decades to come? What are the local innovations that will help transform the way we treat and prevent … Continue reading “Xconomy Forum: Tomorrow’s Biotech—Innovators and Innovations”

Eyeing $12B Market, Clinical Data Raises $50M to Develop Lead Drug and Pipeline

Hungry for cash to advance its lead depression drug to the market, Newton, MA-based biotech firm Clinical Data (NASDAQ:[[ticker:CLDA]]) has raised $50 million in a convertible debt financing. The funding came from investment affiliates of Clinical Data’s chairman, Randal Kirk, according to the company. Clinical Data says that the new funding will support the firm … Continue reading “Eyeing $12B Market, Clinical Data Raises $50M to Develop Lead Drug and Pipeline”

Enerdyne Adds Technology to Thwart Possible UAV Eavesdroppers

I was a little surprised yesterday when Enerdyne Technologies, a subsidiary of Carlsbad, CA-based ViaSat, said encryption technology is now available for its digital data link systems to unmanned military surveillance aircraft. Isn’t the video transmitted from robotic spy planes already encrypted? Not necessarily, says Enerdyne general manager Steve Gardner. As it turns out, it’s … Continue reading “Enerdyne Adds Technology to Thwart Possible UAV Eavesdroppers”

Actress Glenn Close, “Dream Team” at Fetchdog Aim to Bite Into $40 Billion Pet Market

The story of FetchDog begins with a small group of pet owners who saw a need for an online hub for people like them to buy merchandise, read about trends, and socialize. And the founders of the Portland, ME-based firm, besides their affinity for pets, are also what one investor called a “dream team” of … Continue reading “Actress Glenn Close, “Dream Team” at Fetchdog Aim to Bite Into $40 Billion Pet Market”

Having Scoured the Ocean for Cancer Drugs, Nereus Aims to Prove Its Concept Works

Off the coast of the Bahamas, in sea grass more than a half-mile deep, San Diego-based Nereus Pharmaceuticals found a fungus that may be the key ingredient for an innovative new cancer drug. This will be a key year for gathering evidence that will either support or debunk the idea. I got the download on … Continue reading “Having Scoured the Ocean for Cancer Drugs, Nereus Aims to Prove Its Concept Works”

General Dynamics Cuts 353 Jobs in Spokane

General Dynamics Itronix, a manufacturer of laptops and mobile devices for field use, is closing its facility in Spokane Valley, WA, according to the Washington State Employment Security Department. The closure, which is effective April 24, 2009, affects 353 people. General Dynamics Itronix is based in Spokane and has offices in Canada and Europe.

Kindling a Revolution: E Ink’s Russ Wilcox on E-Paper, Amazon, and the Future of Publishing

Almost as soon as Amazon released the Kindle e-book reader in November 2007, I settled in to wait for the Kindle 2. Like many other observers, I thought Amazon had made a good first stab at building a usable e-book device, but that it needed a sleeker profile, better ergonomics, new features such as text-to-speech … Continue reading “Kindling a Revolution: E Ink’s Russ Wilcox on E-Paper, Amazon, and the Future of Publishing”

UW’s Gardasil Windfall, Cell Therapeutics Unloads Zevalin, Trubion Cuts Jobs, & More Seattle-Area Life Sciences News

It was another busy week in Seattle’s life sciences scene, with a mix of stories from biotech, medical devices, diagnostics, and biofuels. —Xconomy had the exclusive feature story on how the University of Washington is reaping a windfall of royalties because one of its inventions from the 1980s is used for manufacturing Merck’s billion-dollar vaccine, … Continue reading “UW’s Gardasil Windfall, Cell Therapeutics Unloads Zevalin, Trubion Cuts Jobs, & More Seattle-Area Life Sciences News”

SBRI Teams With PATH To Pick Best Candidates for Malaria Vaccines

Seattle’s tight-knit global health community is getting a little tighter today. The Seattle Biomedical Research Institute (SBRI) has secured a $2.3 million grant from the PATH Malaria Vaccine Initiative to help sift through a load of discoveries it has made in recent years that researchers say could be critical ingredients in a more effective new … Continue reading “SBRI Teams With PATH To Pick Best Candidates for Malaria Vaccines”

Selecta Biosciences, Inc. Lands $15,100,000 Series B Funding

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=9d86061b-9327-4eb8-96d6-b0c39ba0d4bd&Preview=1 Date 2/26/2009 Company Name Selecta Biosciences, Inc. Mailing Address Undisclosed Cambridge, MA 02138 Company Description The company provides unspecified biotechnologies. Website Undisclosed Transaction Type Venture Equity Transaction Amount $15,100,000 Transaction Round Series B Proceeds Purposes Proceeds purposes were not disclosed. M&A Terms Venture Investor Undisclosed

WaveTec Vision Systems Inc. Receives $20,100,000 Series C Financing Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=0a2cd390-3ced-4eee-b618-a4cedaf002df&Preview=1 Date 2/26/2009 Company Name WaveTec Vision Systems Inc. Mailing Address 66 Argonaut Aliso Viejo, CA 92656 Company Description The company is developing a system to help optimize patient outcomes after intraocular lens replacement procedures. Website http://wavetecvision.com Transaction Type Venture Equity Transaction Amount $20,100,000 Transaction Round Series C Proceeds Purposes Proceeds purposes … Continue reading “WaveTec Vision Systems Inc. Receives $20,100,000 Series C Financing Round”

Igenica Garners $6,100,000 Series A Funding

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=3e40217c-1591-4fdc-a2d5-14e2fbed3be3&Preview=1 Date 2/26/2009 Company Name Igenica Mailing Address 1700 Owens St San Francisco, CA 94158 Company Description The company operates as a drug development company for cancer treatment. Website Undisclosed Transaction Type Venture Equity Transaction Amount $6,100,000 Transaction Round Series A Proceeds Purposes Proceeds purposes were not disclosed. M&A Terms Venture Investor … Continue reading “Igenica Garners $6,100,000 Series A Funding”

Hitachi Data Systems Acquires Fabrik for Undisclosed Sum

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=cfd45791-d656-4693-a52a-1c98b73036b4&Preview=1 Date 2/26/2009 Company Name Fabrik Mailing Address 1825 South Grant St San Mateo, CA 94402 Company Description Develops personal digital media application appliances. Website http://www.fabrikinc.com Transaction Type M&A Transaction Amount Undisclosed Transaction Round Proceeds Purposes M&A Terms Financial terms of the transaction were not disclosed.

It’s a Good Time To Be at Microsoft—A Report from TechFest

[Updated Feb. 25 with photos from TechFest 2009:] Yesterday, I reported from Microsoft headquarters in Redmond, WA, on some high-level thoughts about the importance of corporate research from Craig Mundie, Microsoft’s chief research and strategy officer, and Rick Rashid, senior vice president and head of research. It’s TechFest week, which means tons of demos and … Continue reading “It’s a Good Time To Be at Microsoft—A Report from TechFest”

uLocate Launches Where on Android

Boston-based uLocate announced today that its Where platform, a collection of “widgets” allowing access to location-based services and information on mobile devices, will be available for T-Mobile’s G1 phone, the first mass-market phone that runs the Google Android operating system. Where, which is already available for the Apple iPhone, Blackberry smartphones, and other devices, is  … Continue reading “uLocate Launches Where on Android”

Trubion Cuts One-Fourth of Workforce

Seattle-based Trubion Pharmaceuticals said today it is cutting one-fourth of its workforce, about 25 jobs, leaving it with a staff of about 75. The company says it expects the cuts will help it conserve enough cash to operate into the second half of 2010. The Trubion (NASDAQ: [[ticker:TRBN]]) cuts will affect “most areas of the … Continue reading “Trubion Cuts One-Fourth of Workforce”

Intellectual Ventures, Telcordia Team Up

Bellevue, WA-based Intellectual Ventures said today it has formed an alliance with Telcordia Technologies, a networking and telecommunications firm in Piscataway, NJ. Intellectual Ventures has acquired the rights to license about 500 of Telcordia’s patents, and in return, has also agreed to fund inventions from Telcordia’s R&D lab. Financial terms of the deal were not … Continue reading “Intellectual Ventures, Telcordia Team Up”

VMware Takes On Microsoft, Amazon in the Cloud

Palo Alto, CA-based software firm VMware (NYSE: [[ticker:VMW]]), a subsidiary of Hopkinton, MA-based EMC (NYSE: [[ticker:EMC]]), has rolled out an ambitious cloud-computing program that looks to challenge the big players in the space—Amazon, Google, Microsoft, and others. VMware makes virtualization software that helps companies run their information technology operations, like networking and desktop management, more … Continue reading “VMware Takes On Microsoft, Amazon in the Cloud”

Dotster Sells RevenueDirect, Buys Hosts

Dotster, an online domain hosting company in Vancouver, WA, announced it has sold its RevenueDirect monetization service to Cambridge, MA-based Sedo. Dotster also has acquired marketing and hosting services EmailBrain and FortuneCity. Terms of the deals were not disclosed.

Alnylam’s Spinoff Strategy, Genzyme’s Gaucher-Business Future, Adimab’s Antibody Ambitions, & More Boston-Area Life Sciences News

If you’re a fan or follower of New England’s life sciences industry we’ve got lots for you this week, thanks to some great in-depth reporting by Ryan and Luke. —Luke gave a fascinating look at the strategy of Cambridge, MA-based Alnylam Pharmaceuticals (NASDAQ: [[[ticker:ALNY]]), a pioneer in the field of RNA interference, or RNAi. Alnylam … Continue reading “Alnylam’s Spinoff Strategy, Genzyme’s Gaucher-Business Future, Adimab’s Antibody Ambitions, & More Boston-Area Life Sciences News”

Isis Inches Closer Toward Profitability

Isis Pharmaceuticals is getting closer to a milestone few biotechs ever reach-profitability. The Carlsbad, CA-based company, through its strategy of forming partnerships with pharmaceutical companies that want a piece of its inventions, was able to build up a war chest of $491 million at year’s end. Isis also trimmed its net loss last year to … Continue reading “Isis Inches Closer Toward Profitability”

Seattle Genetics Completes Enrollment in SGN-33 Trial

Seattle Genetics, the Bothell, WA-based developer of targeted cancer drugs, said today it had completed enrollment in a trial of 210 patients with acute myeloid leukemia. The study is looking at the company’s SGN-33 drug in combination with a low-dose chemotherapy drug, compared with the chemotherapy drug alone. The main goal of the study is … Continue reading “Seattle Genetics Completes Enrollment in SGN-33 Trial”

Netezza Buys Tizor Systems for $3M

This isn’t the exit that investors in Tizor Systems were hoping for. The Maynard, MA-based startup, which says it raised $23.3 million in its last two rounds of financing, was sold last week to Netezza (NYSE:[[ticker:NZ]]) for $3.1 million in cash, according to a regulatory filing. Tizor, which makes software to audit and guard information … Continue reading “Netezza Buys Tizor Systems for $3M”

Selecta Biosciences Banks $15M to Advance Nano-Sized Immune-Stimulating Drugs

Selecta Biosciences, a secretive biotech startup, is breaking its silence today to reveal the closing of a $15.1 million second round of financing. The sizable round is a rarity during what has been a financial drought for most young biotech firms, yet the founders of Watertown, MA-based Selecta say the startup has attracted investors due … Continue reading “Selecta Biosciences Banks $15M to Advance Nano-Sized Immune-Stimulating Drugs”

Quasar Leads Development of Advanced Sensing Technologies for Government

In the 11 years since Andrew Hibbs started QUASAR, the privately held company has flourished by developing a smorgasbord of sophisticated sensing technologies under various government research and development contracts. I met Hibbs more than a decade ago, during the formative years of San Diego’s Quantum Magnetics, where he led development of advanced electromagnetic sensors … Continue reading “Quasar Leads Development of Advanced Sensing Technologies for Government”

IBM Builds Critical Mass at “Mass Lab”; Aims to Mix Acquired Subsidiaries Without Dissolving Them

IBM’s sweeping project to consolidate its local software divisions at renovated campuses in Littleton and Westford, MA, is more than just a physical reorganization: it’s a chance for the company to craft a new identity for itself in Massachusetts, according to one of Big Blue’s top executives in the state. “I think we are one … Continue reading “IBM Builds Critical Mass at “Mass Lab”; Aims to Mix Acquired Subsidiaries Without Dissolving Them”

Life Sciences on a Budget: Startups Make Pitch for Angel Dollars at First Zino Society Forum

(Updated) Angel investors and biotech companies don’t usually mix. Most biotech startups begin with university research, and embark on a decade-long quest of product development, all while inhaling several hundred million dollars of capital, and carrying the burden of a 90 percent failure rate. This is where deep-pocketed, risk-seeking venture capitalists and public equity investors … Continue reading “Life Sciences on a Budget: Startups Make Pitch for Angel Dollars at First Zino Society Forum”

Investors Back Growing Bay State Software Firms Aveksa and Apparent Networks in Pair of Series C Financings

It’s no anomaly that two Massachusetts firms that provide software for big organizations—Waltham-based Aveksa, and Apparent Networks, headquartered in Wellesley Hills—are announcing the close of significant financings today. Both companies are commercially viable businesses with revenue streams, the types of operations that are attracting venture capital and private equity investments during this stormy recession. Aveksa … Continue reading “Investors Back Growing Bay State Software Firms Aveksa and Apparent Networks in Pair of Series C Financings”

Aveksa Inc. Obtains $10,000,000 New Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=6978cf24-2271-419d-81a9-4673ff462a75&Preview=1 Date 2/25/2009 Company Name Aveksa Inc. Mailing Address 265 Winter Street Waltham, MA 02451 Company Description Aveksa was founded in late 2004 by Deepak Taneja, former CTO and vice president of engineering at Netegrity. Since that time, he has focused on R&D and has built an executive team with more than … Continue reading “Aveksa Inc. Obtains $10,000,000 New Round”

Apparent Networks Receives $12,000,000 Series C Financing

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=c73cbd28-d3a1-4c1b-ae0d-a08680b0f290&Preview=1 Date 2/25/2009 Company Name Apparent Networks Mailing Address 110 Cedar Street Wellesley Hills, MA 02481 Company Description Apparent Networks is the developer of AppCritical, a software application that provides a radically different and superior basis for assessing, measuring and diagnosing complex networks to facilitate the optimal performance and management of data, … Continue reading “Apparent Networks Receives $12,000,000 Series C Financing”

Selecta Biosciences, Inc. Receives $15,100,000 Series B Funding

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=9d86061b-9327-4eb8-96d6-b0c39ba0d4bd&Preview=1 Date 2/25/2009 Company Name Selecta Biosciences, Inc. Mailing Address Undisclosed Cambridge, MA 02138 Company Description The company provides unspecified biotechnologies. Website Undisclosed Transaction Type Venture Equity Transaction Amount $15,100,000 Transaction Round Series B Proceeds Purposes Proceeds purposes were not disclosed. M&A Terms Venture Investor Flagship Ventures Venture Investor Polaris Venture Partners … Continue reading “Selecta Biosciences, Inc. Receives $15,100,000 Series B Funding”

Netezza Corporation Acquires Tizor for Undisclosed Sum

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=d6a0d5ea-3439-4e73-8d91-eae368100a0e&Preview=1 Date 2/25/2009 Company Name Tizor Mailing Address 5 Clock Tower Place Maynard, MA 01754 Company Description In a world driven by open networks, outsourcing and the growing risks of information theft, organizations require a higher level of insight and control over user activity with mission critical applications and data. Website http://www.tizor.com … Continue reading “Netezza Corporation Acquires Tizor for Undisclosed Sum”

Medtronic, Inc. Acquires CoreValve for $700,000,000

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=9838b672-62c7-47c2-9a1d-4d4e38d4929d&Preview=1 Date 2/25/2009 Company Name CoreValve Mailing Address 1 Jenner Irvine, CA 92618 Company Description CoreValve – which is headquartered in Paris and has R&D facilities in Irvine, California, has developed a proprietary delivery system for percutaneous heart valve replacement, based on a novel catheter-and-self-expanding-frame approach on a beating heart, thus avoiding … Continue reading “Medtronic, Inc. Acquires CoreValve for $700,000,000”

Aster Data Secures $5,000,000 Series B Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=7be1add2-46ad-46ef-b6ad-3499fbac9235&Preview=1 Date 2/25/2009 Company Name Aster Data Mailing Address 959 Skyway Road San Carlos, CA 94070 Company Description Aster transforms off-the-shelf, commodity hardware into a powerful, self-managing, and scalable analytic database capable of handling the most demanding data warehousing environments. Website http://www.asterdata.com/ Transaction Type Venture Equity Transaction Amount $5,000,000 Transaction Round Series … Continue reading “Aster Data Secures $5,000,000 Series B Round”

Appirio Secures $10,000,000 Series C Funding Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=a870cabf-11d8-46bc-aaf1-74245e34f448&Preview=1 Date 2/25/2009 Company Name Appirio Mailing Address 900 Concar Drive San Mateo, CA 94402 Company Description Appirio delivers products and services that help companies more successfully adopt on-demand business solutions (sometimes known as “Software as a Service”). On-demand software is transforming the enterprise. More than ever, companies of all sizes are … Continue reading “Appirio Secures $10,000,000 Series C Funding Round”

InsideVenture Lands New Funding Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=173e716f-e633-438e-bd91-9836a0168e64&Preview=1 Date 2/25/2009 Company Name InsideVenture Mailing Address 3000 Sand Hill Road Building 3 Menlo Park, CA 94025 Company Description InsideVenture, Inc. is an industry sponsored financial marketing utility providing a direct private market platform for institutional and strategic investment in late-stage private companies. InsideVenture’s exclusive vetting and membership requirements connect the … Continue reading “InsideVenture Lands New Funding Round”

Harnessing IT for Energy: Washington’s Next Tech Sector?

Washington is home to some of the most advanced companies building products to revolutionize energy management. From smart meters to smart grids, we’re leading the country in creating innovative solutions. But is there more? Could Energy Management be the next growth tech sector for Washington? Come to the World Trade Center in Seattle for WTIA’s … Continue reading “Harnessing IT for Energy: Washington’s Next Tech Sector?”

Patent Lawsuit Against Histogen Forces Layoffs And A Scramble For New Funding

A patent infringement lawsuit filed last month against Histogen has triggered a funding crisis at the San Diego biomedical startup, which was forced to lay off all 36 of its employees at the end of January. Histogen founder and CEO Gail Naughton told me this afternoon the suit filed by rival SkinMedica of Carlsbad, CA, … Continue reading “Patent Lawsuit Against Histogen Forces Layoffs And A Scramble For New Funding”

Craig Mundie and Rick Rashid on Why Microsoft Research Matters (Even More than Usual)

Microsoft’s ninth annual TechFest is going on this week in Redmond, WA. This is the big demo event where researchers from all of Microsoft’s research labs around the world (based in Redmond, Silicon Valley, New England, UK, India, and China) get to show off their results to product groups, vice presidents, professors, and other guests. … Continue reading “Craig Mundie and Rick Rashid on Why Microsoft Research Matters (Even More than Usual)”

PopCap Buys Gastronaut Studios

Seattle-based PopCap Games announced today it has acquired game developer Gastronaut Studios, also based in Seattle. Financial terms were not disclosed, but PopCap gets Gastronaut’s assets and employees, as well as exclusive license to Gastronaut’s tools and technologies. Gastronaut, known for its Xbox titles like Small Arms, has been a partner of PopCap’s.

Bionavitas Unveils Technology to “Shed Light” on Algae, Further Boosting Yields

Redmond, WA-based Bionavitas has been pretty stealthy until today, when it offered a peek into what it thinks will enable it to corner a piece of the market for algae-based biofuels. Biofuels made from algae have attracted a boomlet of interest in the past year, as investors and entrepreneurs have been impressed with its potential … Continue reading “Bionavitas Unveils Technology to “Shed Light” on Algae, Further Boosting Yields”

Dynogen Pharma Files for Bankruptcy

Waltham, MA-based drug developer Dynogen Pharmaceuticals has filed for bankruptcy protection this week under the weight of $10.6 million in liabilities, the Boston Business Journal reported this morning. Dynogen, a developer of drugs for irritable bowel syndrome and other gastrointestinal disorders, raised some $67 million over the past six years from Boston-area investors such as … Continue reading “Dynogen Pharma Files for Bankruptcy”

Boston-Power Expands Manufacturing

Boston-Power, a Westborough, MA-based maker of long-lasting lithium-ion batteries, says that it has struck a deal with battery maker GP Batteries to dedicate GP’s entire plant in Taiwan to the production of Boston-Power’s Sonata batteries. The deal is expected to double production this year of Sonata batteries, which Boston-Power is supplying to HP as lithium-ion … Continue reading “Boston-Power Expands Manufacturing”

A Reluctant Entrepreneur Bringing Bioinformatics Startup to San Diego

A couple of years ago, Peter Dresslar saw an opportunity to start his own company when he was working as an information science consultant for a big corporation he describes only as the world’s largest research-based pharmaceutical company. Now Dresslar is the 38-year-old CEO of a software analytics company with plans to move to San … Continue reading “A Reluctant Entrepreneur Bringing Bioinformatics Startup to San Diego”

Panacos Cuts Workers, Shutters MD Facility

Panacos Pharmaceuticals (NASDAQ:[[ticker:PANC]]), a Watertown, MA-based developer of drugs for HIV, says that it will shutter its Gaithersburg, MD, facility and cut its work force from 11 to four employees to conserve cash. Panacos has also hired investment banking firm Oppenheimer to advise the company about such strategic options such as the sale of Panacos … Continue reading “Panacos Cuts Workers, Shutters MD Facility”

Cypress Buys Lupus Test

Cypress Bioscience (NASDAQ: [[ticker:CYPB]]), the San Diego-based developer of a drug for fibromyalgia, said today it has acquired technology from Cellatope to diagnose and monitor hard-to-detect autoimmune diseases like lupus. Cypress and its partner, New York-based Forest Laboratories, won FDA approval last month for milnacipran (Savella) as a treatment for a chronic muscle pain condition … Continue reading “Cypress Buys Lupus Test”

Optimer Drug for Traveler’s Diarrhea Passes Key Trial, Will Seek FDA Approval

Here’s some potentially good news for vacationers who have had their trip spoiled by a bad case of the runs. Optimer Pharmaceuticals says its experimental drug for traveler’s diarrhea has reached its goal in a second pivotal clinical trial, and the San Diego-based firm plans to ask the FDA to approve the drug by the … Continue reading “Optimer Drug for Traveler’s Diarrhea Passes Key Trial, Will Seek FDA Approval”

$11.5M C Round Flows into Rivulet

Herndon, VA-based Rivulet Communications, which has a research and development center in Portsmouth, NH, said today that it has secured $11.5 million in Series C funding, courtesy of investors ATA Ventures, Menlo Ventures, Performance Equity Management, and Scorpion Capital Partners. Rivulet makes software used by hospitals, media organizations, and government agencies to share live or … Continue reading “$11.5M C Round Flows into Rivulet”