What’s the most exciting company in Seattle? I recently put the question to Patrick Ennis, the global head of technology for Bellevue, WA-based Intellectual Ventures, and his answer surprised me: Impinj. The firm in Seattle’s Fremont neighborhood has been around since 2000, and is well-known for its focus on radio-frequency identification (RFID) technologies—not exactly the … Continue reading “Impinj Navigates Nascent RFID Market with Unique Technology, Strategy—and Patience”
Borealis Ventures: The Real Venture Capitalists from New Hampshire
Philip Ferneau says that it’s pretty funny that the movie “Wedding Crashers” follows the exploits of two bachelors who decide to keep up appearances at the wedding of complete strangers by posing as venture capitalists from New Hampshire. Ferneau and his partners at Borealis Ventures are indeed among the few actual venture capitalists based in … Continue reading “Borealis Ventures: The Real Venture Capitalists from New Hampshire”
Ambrx Nails Down Partnership with Merck KGaA to Develop Multiple Sclerosis Drug
San Diego-based Ambrx has signed a new partnership with German pharmaceutical giant Merck KGaA to co-develop a drug for multiple sclerosis. Ambrx and Merck KGaA have agreed to keep the financial terms of this global partnership hush-hush for the time being, although I was able to get some insight into what it means yesterday from … Continue reading “Ambrx Nails Down Partnership with Merck KGaA to Develop Multiple Sclerosis Drug”
Amazon and Madrona Back Yieldex, UW Benefits from Merck Sales, Digini and Vyk Merge, & More Seattle-Area Deals News
It was a quiet week for deals in the Northwest, with just a trickle in the biotech, business software, and gaming arenas. —Seattle-based Cell Therapeutics (NASDAQ: [[ticker:CTIC]]) sold its remaining 50 percent stake in its cancer drug Zevalin to its partner, Irvine, CA-based Spectrum Pharmaceuticals (NASDAQ: [[ticker:SPPI]]) for $18 million, Luke reported. The cash will … Continue reading “Amazon and Madrona Back Yieldex, UW Benefits from Merck Sales, Digini and Vyk Merge, & More Seattle-Area Deals News”
Tizra Puts Publishers Back in Control of Their E-Books
For traditional print publishers, the fact that more and more people are buying book-length works online and reading them on their laptops, iPhones, or Kindles is both encouraging and anxiety-provoking. The rise of e-books opens up potential new markets. But it means publishers have to figure out the best way to share their content electronically—and … Continue reading “Tizra Puts Publishers Back in Control of Their E-Books”
Topaz Bridge Lands $2,000,000 Series B Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=bc9c6d5f-0301-43e7-9576-d0c1a826fa8e&Preview=1 Date 2/24/2009 Company Name Topaz Bridge Mailing Address 330 120th Ave NE, Building C Bellevue, WA 98005 Company Description Topaz Bridge was founded in 2007 to use Microsoft® Office Sharepoint® Server to help large organizations get more utility and return from their investment in line-of-business applications. The company was founded by … Continue reading “Topaz Bridge Lands $2,000,000 Series B Financing Round”
Eiger Biopharmaceuticals Garners $7,100,000 Series A Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=317f5e1c-2973-46e5-b80d-1e361e7b0b91&Preview=1 Date 2/24/2009 Company Name Eiger Biopharmaceuticals Mailing Address 3350 West Bayshore Road Palo Alto, CA 94303 Company Description Eiger BioPharmaceuticals, Inc., is a biopharmaceutical company focused on the discovery and development of new antiviral agents against novel targets in the treatment of hepatitis. Eiger’s pipeline includes repurposed clinical agents as well … Continue reading “Eiger Biopharmaceuticals Garners $7,100,000 Series A Round”
Jive Software Makes Top 100 List
Portland, OR-based Jive Software announced it has been named to KMWorld’s 2009 list of “100 companies that matter in knowledge management.” Jive makes social business and collaboration software.
Lytton Leaves VC Firm for Biogen
Michael Lytton has left his post as general partner at Boston venture firm Oxford Bioscience Partners to be executive vice president of business development at Cambridge, MA-based biotech powerhouse Biogen Idec (NASDAQ:[[ticker:BIIB]]), according to a press release. Lytton, a well-known venture capitalist who joined Oxford in 2001, will now be on the opposite side of … Continue reading “Lytton Leaves VC Firm for Biogen”
Amicas Plans $39M Buyout of Emageon
Amicas (NASDAQ:[[ticker:AMCS]]), a Boston-based provider of software for managing medical images and other healthcare information, says that it has agreed to buy competitor Emageon (NASDAQ:[[ticker:EMAG]]), headquartered in Birmingham, AL, for $39 million in cash. Emageon’s board of directors has approved the deal, and Amicas plans March 5 to begin a tender offer of $1.82 per … Continue reading “Amicas Plans $39M Buyout of Emageon”
Pacira Cuts 40 Jobs After Setback in Clinical Trial of Painkilling Drug-Delivery Product
[Updated Feb. 26, 2009—Clarifies and corrects terms of Pacira’s financing. See details below.] San Diego-based Pacira Pharmaceuticals, which got a final $10 million installment of a venture capital commitment just a few months ago, laid off about 40 employees last week. Pacira CEO David Stack, who also is a managing director in the Boston office of … Continue reading “Pacira Cuts 40 Jobs After Setback in Clinical Trial of Painkilling Drug-Delivery Product”
Contract Gives Lift to Fire Scout
Northrop Grumman said today the Pentagon has awarded a planned low-rate, initial production contract to procure three unmanned Fire Scouts helicopters developed in San Diego. The Naval Air Systems Command in Patuxent River, MD, awarded the contract, which is not to exceed $40 million, under the Navy’s vertical takeoff and landing tactical unmanned aerial vehicle … Continue reading “Contract Gives Lift to Fire Scout”
Zoll Medical to Buy Alsius for $12M
Zoll Medical (NASDAQ:[[ticker:ZOLL]]), a Chelmsford, MA-based provider of devices and products for the critical care market, has agreed to acquire the assets of medical devices firm Alsius for $12 million in cash, according to a press release. Irvine, CA-based Alsius (NASDAQ:[[ticker:ALUS]]) makes products that control body temperature to, for example, induce hypothermia in stroke victims … Continue reading “Zoll Medical to Buy Alsius for $12M”
MOD Fraud? Investor’s Lawsuit Alleges Blatant Misuse of Funds by CEO
Seattle-based MOD Systems and three of its top executives are being sued by investor Robert Arnold for fraud, embezzlement, misrepresentation, and breach of fiduciary duty, among other complaints. That’s according to a lawsuit filed in King County superior court last Wednesday. Arnold’s investigation into the company was first reported by TechFlash. In the suit, MOD … Continue reading “MOD Fraud? Investor’s Lawsuit Alleges Blatant Misuse of Funds by CEO”
Tech Coast Angels Still Investing
Southern California’s Tech Coast Angels said today its members participated in 15 first-time financings in 2008, providing $75 million in funding for new companies from members and affiliated investors. The organization of angel investors also participated in 16 follow-on rounds last year. That compares with 12 first-time fundings and 14 follow-on rounds in 2007. Since … Continue reading “Tech Coast Angels Still Investing”
With New Firm Makaira Venture Partners, STD Med Gives Medtech Fund Another Shot
It may be a lousy time for raising money for venture capital funds, but that isn’t deterring medtech entrepreneur Steven Tallarida from launching Makaira Venture Partners near Boston. Though his earlier strategy to finance a medtech fund fell short, Tallarida and his associates plan to hit the road in the coming months to raise about … Continue reading “With New Firm Makaira Venture Partners, STD Med Gives Medtech Fund Another Shot”
Recruiters Say They’re Hiring, But UCSD Engineering Students See It Differently
California’s jobless data for January is set for release Friday, but there’s little reason to expect much improvement since December, when the statewide unemployment rate hit 9.3 percent, with more than 1.73 million California residents out of work. In San Diego County, overall unemployment was at 7.4 percent in December, with 117,000 people jobless. For … Continue reading “Recruiters Say They’re Hiring, But UCSD Engineering Students See It Differently”
Renewables Aren’t Just for Biofuels: Microbia Makes Industrial Chemicals a Bit Greener
Microbia envisions a future in which specialty chemicals we take for granted, like the beta-carotene that goes in dietary supplements, will come from renewable sources instead of the usual petrochemicals. It won’t wean the world off oil, but it could enable this Lexington, MA-based company and its partners to claim they’re helping to green up … Continue reading “Renewables Aren’t Just for Biofuels: Microbia Makes Industrial Chemicals a Bit Greener”
UW’s Gardasil Connection Generates Windfall for Research, Tech Transfer
One of the world’s best-selling vaccines, Merck’s Gardasil, is quietly producing some serious money for an unexpected beneficiary—the University of Washington. Thanks to some hard-fought patent litigation from the 1990s that ended up strengthening and extending the lifespan of a critical piece of UW intellectual property, the university is now raking in a windfall of … Continue reading “UW’s Gardasil Connection Generates Windfall for Research, Tech Transfer”
Early Histogen Study Offers Hope for Retreating Hairlines, Cadence Pharmaceuticals and Vertex Raise Lots of Cash, Unmanned Predator Begins New Air Patrol, & More San Diego BizTech News
It was the best of times and worst of times for the life sciences in San Diego last week. Stalwarts Cadence Pharmaceuticals and Vertex Pharmaceuticals raised cash to expand their businesses, while La Jolla Pharmaceutical and 4-D Neuroimaging basically went in the opposite direction. Biofuels also were back in the news, along with the unmanned … Continue reading “Early Histogen Study Offers Hope for Retreating Hairlines, Cadence Pharmaceuticals and Vertex Raise Lots of Cash, Unmanned Predator Begins New Air Patrol, & More San Diego BizTech News”
The Travel Channel and SnapMyLife: TV Experiments with Mobile Social Media, Gingerly
People seem to eat up the platefuls of food-related programming fed to them by cable networks like Lifetime, The Travel Channel, and the Food Network. Will cell phone owners do the same? The folks at SnapMyLife, the mobile photo-sharing community run by Needham, MA-based Mobicious, hope to find out. Last year the company formed a … Continue reading “The Travel Channel and SnapMyLife: TV Experiments with Mobile Social Media, Gingerly”
Coast to Coast
Earlier this month I joined Massachusetts Governor Deval Patrick and members of his administration on a trade mission to the West Coast. The trade mission was an opportunity to showcase why Massachusetts is a great place to do business for companies in information technology, life sciences and other sectors. For us at the Massachusetts Life … Continue reading “Coast to Coast”
Buzzwire Launches User-Driven Mobile News Site
A growing number of online media companies offer mobile-friendly versions of their articles or videos, often resizing or stripping down the material to make it more easily accessible on smaller screens, and at lower bandwidth. But if you’re a cell phone owner who wants to spend a few minutes scanning mobile sites, there’s a problem. … Continue reading “Buzzwire Launches User-Driven Mobile News Site”
Intelligent Bio-Systems, Inc Obtains Series B Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=a22bd7df-8d27-4247-b63e-17f3194dba34&Preview=1 Date 2/23/2009 Company Name Intelligent Bio-Systems, Inc Mailing Address 34 Bear Hill Rd. Waltham, MA 02451 Company Description Intelligent Bio-Systems is developing a next generation DNA sequencing system that can simultaneously increase the speed and reduce the cost of producing sequence data by a factor of 100 to 1,000. It uses … Continue reading “Intelligent Bio-Systems, Inc Obtains Series B Round”
Principle Power Receives $20,000,000 Series A Funding
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=9c7b4842-6920-43ef-9c8e-e9229e59c9fa&Preview=1 Date 2/23/2009 Company Name Principle Power Mailing Address 93 S. Jackson Street Seattle, WA 98104 Company Description As a renewable energy technology developer, Principle Power is committed to delivering green, sustainable energy products today, while maintaining the highest level of environmental stewardship. Website http://www.principlepowerinc.com Transaction Type Venture Equity Transaction Amount $20,000,000 … Continue reading “Principle Power Receives $20,000,000 Series A Funding”
Halogen Network Obtains $5,000,000 Series B Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=9a7d4e60-8e8c-493d-8eb1-5d39355f5a81&Preview=1 Date 2/23/2009 Company Name Halogen Network Mailing Address 185 Berry Street, Lobby 5 San Francisco, CA 94107 Company Description Halogen Network is a distributed media company that connects affluent consumers with the world’s leading luxury brands. We reach wealthy households that are willing to spend, and we do it with greater … Continue reading “Halogen Network Obtains $5,000,000 Series B Financing Round”
News in the Internet Era: Newsvine CEO Mike Davidson
Mike Davidson, co-founder and CEO of Newsvine, will be the featured speaker at the University of Washington Alumni Association’s Fostering Innovation Lunch series. Newsvine, a wholly-owned subsidiary of MSNBC, assembles stories from a variety of sources around the world and allows users to edit articles for individual use. For more information about how to register, … Continue reading “News in the Internet Era: Newsvine CEO Mike Davidson”
Making the Internet Green: How to Build Sustainable Data Centers
Leonard Ruff, director of Callison Architecture, will be the featured speaker at Science on Tap on Feb. 23. Ruff will discuss “Making the Internet Green: How to Build Sustainable Data Centers.” For more information, click here.
Science & Technology Discovery Series: WSU’s John Reganold on Sustainable Agriculture
John Reganold of Washington State University’s Crop and Soil Sciences Department will be the featured speaker on May 8 at the Technology Alliance’s Science & Technology Discovery Series. Reganold will discuss sustainable agriculture systems. For more information, click here.
Science & Technology Discovery Series: UW’s Peter Ward on Studying Stars
Peter Ward of the University of Washington’s Earth and Space Sciences Department will be the featured speaker at the Technology Alliance’s Science and Technology Discovery Series on April 17. Ward will discuss what we have learned about Earth by studying stars. To register, click here.
Greenomics: Creating Profitable Businesses in a Green and Clean World
The MIT Enterprise Forum and AeA are hosting this event to learn from experts in green investment, government policy, and entrepreneurial communities as they help us understand issues and opportunities for clean technology and green solution development businesses in the Pacific Northwest. The discussion will provide entrepreneurs with the information they need to put the … Continue reading “Greenomics: Creating Profitable Businesses in a Green and Clean World”
Primaeva Medical Lands $6,000,000 Series C Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=fe0e1435-b255-4170-9f0d-752ba8095d2f&Preview=1 Date 2/21/2009 Company Name Primaeva Medical Mailing Address 4160 Hacienda Drive Pleasanton, CA 94588 Company Description Primaeva Medical is dedicated to providing the aesthetic physician superior new tools for Restoring Youth for their patients who want to reverse the signs of aging. Website http://www.primaevamedical.com Transaction Type Venture Equity Transaction Amount $6,000,000 … Continue reading “Primaeva Medical Lands $6,000,000 Series C Round”
Polaris Surveys Founders on Dilution
Sim Simeonov, a general partner at Waltham, MA-based Polaris Venture Partners, is conducting an online survey to find out how much stock dilution technology startup founders generally experience between the creation of their companies and the all-important exit event. “There are rules of thumb but there is no good data about what happens to common … Continue reading “Polaris Surveys Founders on Dilution”
Cell Therapeutics Sells Remaining Zevalin Stake to Spectrum
Cell Therapeutics is selling off its remaining 50 percent stake in its cancer drug Zevalin for $18 million, as part of a last-ditch bid to pull in enough cash to keep its doors open a little while longer. The Seattle-based biotech company (NASDAQ: [[ticker:CTIC]]) said today it sold its remaining stake in the drug to … Continue reading “Cell Therapeutics Sells Remaining Zevalin Stake to Spectrum”
UW TechTransfer Announces Mentors
The University of Washington’s Tech Transfer department officially announced its first crop of entrepreneurs in residence (EIRs) and LaunchPad advisors for startups. The EIRs (half-time to full-time) are gaming guru Alex St. John, biotechie Deborah Kessler, and finance and energy expert Jeff Canin. The startup advisors (1-2 days a month) include Joe Eichinger, Bill Gossman, … Continue reading “UW TechTransfer Announces Mentors”
Genzyme Oral Pill for Gaucher’s Succeeds in Trial, Aims to Extend Key Revenue Stream
Genzyme (NASDAQ:[[ticker:GENZ]]) said this afternoon that its next-generation, oral drug for Gaucher disease passed a mid-stage clinical trial, providing a degree of assurance that the Cambridge, MA-based biotech powerhouse can sustain its franchise for treating the rare genetic disease. The study, which included 26 patients, showed the oral drug was safe and effective. And the … Continue reading “Genzyme Oral Pill for Gaucher’s Succeeds in Trial, Aims to Extend Key Revenue Stream”
New Forms of Wind Power and the Incentive for Out of the Box Thinking on Energy
Saul Griffith—MIT-trained material scientist and mechanical engineer, Lemelson-MIT Prize winner, Macarthur Fellow—will be at Harvard February 25 to talk about his latest startup, Makani Power. The company is seeking to harness high-altitude wind energy to produce energy at an unsubsidized real cost significantly below that of the least expensive coal-fired power plants. Griffith’s free lecture … Continue reading “New Forms of Wind Power and the Incentive for Out of the Box Thinking on Energy”
Top 3 Marketing Lessons from Luis Salazar, Voyager Capital’s Entrepreneur in Residence
Have you ever talked to someone who really knows technology, and really knows how to sell it? It’s a potent combination. I got that feeling from Luis Salazar, the chief marketing officer of Bellevue, WA-based GMI, an international market research firm. Salazar moonlights as an entrepreneur-in-residence (EIR) at Voyager Capital in Seattle, where he advises … Continue reading “Top 3 Marketing Lessons from Luis Salazar, Voyager Capital’s Entrepreneur in Residence”
Leprosy Test From Protein AI Gets $700K
Protein AI, a Seattle-based developer of a diagnostic test for leprosy, has received a $700,000 Small Business Innovation Research grant. The disease is currently detected when a doctor recognizes skin lesions or runs an antibody-based lab test. Protein AI’s test is designed so a pinprick of blood can be collected and provide an answer within … Continue reading “Leprosy Test From Protein AI Gets $700K”
La Jolla Pharmaceutical Looks at Sale or “Winding Down”
There are not many options remaining for La Jolla Pharmaceutical, (NASDAQ: [[ticker:LJPC]]) which last week reported the failure of its Riquent drug candidate for treating lupus. In a brief statement, CEO Deirdre Gillespie said Riquent was the San Diego biotech’s sole significant asset. The company says it is taking steps to reduce costs, “including a … Continue reading “La Jolla Pharmaceutical Looks at Sale or “Winding Down””
Ariad Pharma to Sell $24.3M in Stock
Ariad Pharmaceuticals (NASDAQ:[[ticker:ARIA]]), a Cambridge, MA-based developer of drugs for cancer and other diseases, says it has sold 14.37 million shares of common stock to new and existing institutional investors for $1.69 per share, or a total of $24.3 million. Investors were also granted .75 warrants for each share purchased to buy Ariad’s stock at … Continue reading “Ariad Pharma to Sell $24.3M in Stock”
Vertex’s $320M SPO, Verenium and BP’s Joint Venture, Genocea’s $23M Series A, & More Boston-Area Deals News
We’ve got several different venture deals to talk about this week, as well as an acquisition, a sizeable secondary offering, and other interesting transactions from New England’s tech and life sciences firms. —Cardiac implant maker HeartWare International (ASX: [[ticker:HIN]]) of Framingham, MA, agreed to a $282 million acquisition offer from Pleasanton, CA-based Thoratec (NASDAQ: [[ticker:THOR]]). … Continue reading “Vertex’s $320M SPO, Verenium and BP’s Joint Venture, Genocea’s $23M Series A, & More Boston-Area Deals News”
Beacon Power to Raise up to $18M
Beacon Power (NASDAQ:[[ticker:BCON]]), a Tyngsboro, MA-based provider of services and products for efficient electricity use, says it has struck a deal to raise up to $18 million through the sale of its common stock to investment fund Seaside 88 over the next 18 months. At least some of the funds will support the production of … Continue reading “Beacon Power to Raise up to $18M”
Microsoft’s Mark Aggar on How IT Can Aid Energy Efficiency and the Environment
One of the distinguished panelists for our upcoming Xconomy Forum on March 26 (The Rise of Cleantech in the Northwest) is Mark Aggar, director of environmental technology strategy for Microsoft. Aggar has been at his current post for just about a year, having come over from the Windows Server product planning group to be part … Continue reading “Microsoft’s Mark Aggar on How IT Can Aid Energy Efficiency and the Environment”
Kent BioEnergy, With Decades of Algae Experience, Predicts Biofuel Innovation Will Come From “A Guy on a Tractor”
Jack Van Olst and Michael Massingill have an interesting perspective on the green gold rush underway in San Diego, where there has been a proliferation of startups focused on algae-based biofuels. At a time when venture funds are pouring hundreds of millions of dollars into startups that plan to make diesel, gasoline and jet fuel … Continue reading “Kent BioEnergy, With Decades of Algae Experience, Predicts Biofuel Innovation Will Come From “A Guy on a Tractor””
Plinky: The Cure for Blank Slate Syndrome
If you feel it’s time to share something online but can’t think of anything to say, it might be a sign that you’re dull. If you try too hard to craft a bon mot for your blog or some table talk for your Twitter stream, in other words, you might just be inflicting your insipidness … Continue reading “Plinky: The Cure for Blank Slate Syndrome”
Out With Hedge Funds, In With Blue Bloods: Vertex Transforms Investor Base Via Stock Sale
Vertex Pharmaceuticals has been around the block with biotech hedge funds. These are the people who aim to get rich trading volatile stocks second-to-second, and make big bets, long or short, on whether an experimental drug will work. Now that Vertex has passed some of the riskiest stages of drug development, the company figured it … Continue reading “Out With Hedge Funds, In With Blue Bloods: Vertex Transforms Investor Base Via Stock Sale”
Pocket Communications Northeast Obtains $25,000,000 New Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=191952b3-2436-4683-9117-b4d894488e0f&Preview=1 Date 2/20/2009 Company Name Pocket Communications Northeast Mailing Address 1280 Blue Hills Ave Bloomfield, CT 06002 Company Description Pocket is Texas’ fastest-growing flat rate wireless company, and the third largest flat rate carrier in the nation. Since the company was formed in May 2006, it has grown to over a quarter … Continue reading “Pocket Communications Northeast Obtains $25,000,000 New Financing”
Organic To Go Receives $5,000,000 New Funding Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=e1f7f3d7-b571-4d12-806c-9453dfdf2f53&Preview=1 Date 2/20/2009 Company Name Organic To Go Mailing Address 3317 3rd Ave South Seattle, WA 98134 Company Description Organic To Go is a Café and Catering Company that Serves Delicious Meals Made to a New Standard with Organic and Natural Ingredients Organic To Go is America’s first fast casual retailer to … Continue reading “Organic To Go Receives $5,000,000 New Funding Round”
Evoke Pharma Inc. Secures $12,300,000 Series A Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=8f0d7c65-a9ba-44f7-88c7-e00abf648501&Preview=1 Date 2/20/2009 Company Name Evoke Pharma Inc. Mailing Address 12636 High Bluff Drive San Diego, CA 92130 Company Description The company is involved in the acquisition and development of proprietary products for the treatment of gastrointestinal diseases. Website Undisclosed Transaction Type Venture Equity Transaction Amount $12,300,000 Transaction Round Series A Proceeds … Continue reading “Evoke Pharma Inc. Secures $12,300,000 Series A Round”