Molecular Insight Pharmaceuticals (NASDAQ:[[ticker:MIPI]]), based in Cambridge, MA, says that its board of directors has made John Babich its CEO and Anthony Martin its non-executive chairman of the board, among other leadership changes. Babich had served as interim chairman and CEO since September 2008, when the board of directors decided to replace former CEO David … Continue reading “Molecular Insight Names CEO, Chair”
MDRNA Gets $1M Milestone
MDRNA, the Bothell, WA-based biotech company, said today it has received a $1 million milestone payment from San Diego-based Amylin Pharmaceuticals under an amended agreement to develop a nasally-delivered version of exenatide, a diabetes drug. MDRNA, formerly known as Nastech Pharmaceutical, used to specialize in nasal delivery before it switched its strategy in June to … Continue reading “MDRNA Gets $1M Milestone”
After the Bubble Burst, Mike Krenn Built a Venture Pipeline
While Mike Krenn is a person of dignity and influence, I still have vivid memories of him almost nine years ago, dressed like a demented Riddler from an episode of Batman. Not the dark and moody Batman in favor nowadays. I mean the ludicrous, campy Batman of weekday television, circa 1966. The date was March … Continue reading “After the Bubble Burst, Mike Krenn Built a Venture Pipeline”
HiWired Sold to Radialpoint
HiWired, a Needham, MA-based provider of remote technical support to Internet service providers, has agreed to sell its assets to IT security and services firm Radialpoint, headquartered in Montreal, Canada, according to Radialpoint. Terms of the deal weren’t disclosed. HiWired co-founders Michael Wexler and Singu Srinivas will join Radialpoint as vice president of premium care … Continue reading “HiWired Sold to Radialpoint”
Lenovo Buys Switchbox, Ekos Raises $12.5M, nLight Lands $10.7M, & More Seattle-Area Deals News
It was a very busy week for deals in the Northwest—a lot of action in biotech, software, and devices, including a flurry of deals in the Portland area. —Luke reported that Portland, OR-based MolecularMD, a maker of molecular diagnostics for cancer, raised $3 million in new venture funding, led by Ballast Point Venture Partners. MolecularMD … Continue reading “Lenovo Buys Switchbox, Ekos Raises $12.5M, nLight Lands $10.7M, & More Seattle-Area Deals News”
Xconomy’s Battle of the Tech Bands 2: The Video
If you missed Xconomy’s Battle of the Tech Bands 2 on January 22, now you can experience the next best thing: our video sampler. And if you didn’t miss the event—hey, now you can relive it! Embedded below, the video has great footage of Anomopoly (winner of the Most Innovative Band award), The Main Drag … Continue reading “Xconomy’s Battle of the Tech Bands 2: The Video”
Life Goes On at OVP: It’s a Good Time to Develop Products, and to Bet on Cleantech
OVP is one of the few venture funds that invests in a wide variety of innovations that span from IT to life sciences to cleantech. So Greg and I zipped across the lake yesterday for a wide-ranging conversation with the team at Kirkland, WA-based OVP Venture Partners during their Monday portfolio meeting. They’ve surely seen … Continue reading “Life Goes On at OVP: It’s a Good Time to Develop Products, and to Bet on Cleantech”
Energy R&D Network Proposal Has Seattle, Boston Leaders Eyeing Possibilities
One intriguing idea getting shuttled around President Obama’s inner circle could end up pouring significant cash into the innovation hubs of Seattle and Boston. This idea, hatched at the Brookings Institution in Washington D.C., calls for building a national network of two dozen or more centers of excellence in cleantech R&D, with annual budgets of … Continue reading “Energy R&D Network Proposal Has Seattle, Boston Leaders Eyeing Possibilities”
RNA networks, Inc. Receives $7,000,000 Series A Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=d00afca7-8980-4e09-b784-7dce215749ef&Preview=1 Date 2/3/2009 Company Name RNA networks, Inc. Mailing Address 34 NW 1st Ave Portland, OR 97209 Company Description The customers of RNA networks, inc. run the globe’s most challenging enterprise IT applications, implementing solutions which deliver immediate business benefit. RNA’s products address critical business needs by accelerating applications in datacenter environments … Continue reading “RNA networks, Inc. Receives $7,000,000 Series A Financing”
ReShape Medical Garners $20,000,000 Series B Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=45a308dd-b1eb-4305-b08a-13bc05fe54a5&Preview=1 Date 2/3/2009 Company Name ReShape Medical Mailing Address 100 Calle Iglesia San Clemente, CA 92672 Company Description The company is developing a medical device to treat obesity. Website http://reshapemedical.com Transaction Type Venture Equity Transaction Amount $20,000,000 Transaction Round Series B Proceeds Purposes Proceeds purposes were not disclosed. M&A Terms Venture Investor … Continue reading “ReShape Medical Garners $20,000,000 Series B Round”
Pano Logic Secures $6,000,000 Series B Funding
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=3a990402-f9fd-48be-8366-12808528c4d5&Preview=1 Date 2/3/2009 Company Name Pano Logic Mailing Address 1350 Willow Rd Menlo Park, CA 94025 Company Description Pano Logic develops virtualization-based software and hardware solutions that deliver superior desktop computing. Website http://www.panologic.com Transaction Type Venture Equity Transaction Amount $6,000,000 Transaction Round Series B Proceeds Purposes Proceeds purposes were not disclosed. M&A … Continue reading “Pano Logic Secures $6,000,000 Series B Funding”
TextDigger Garners $4,300,000 Series A Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=e0b85246-588b-4eaa-af6c-5099458ee763&Preview=1 Date 2/3/2009 Company Name TextDigger Mailing Address 12 South 1st Street San Jose, CA 95113 Company Description TextDigger, Inc. is an artificial intelligence software developer focusing on advanced information retrieval services for the Web. Spun off of CNET, we are a San Jose-based start-up offering a unique semantic search service for … Continue reading “TextDigger Garners $4,300,000 Series A Financing”
Wavesat Receives $11,700,000 New Funding Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=010c00cd-0cad-4f66-9839-9efce2b999e9&Preview=1 Date 2/3/2009 Company Name Wavesat Mailing Address 1710 South Amphlett Blvd San Mateo, CA 94402 Company Description Wavesat is a global leader in mobile broadband, providing advanced semiconductor solutions to the world’s leading carrier and mobile device manufacturers to deploy future-proof broadband services and products. With award winning technology and the … Continue reading “Wavesat Receives $11,700,000 New Funding Round”
Delphix Receives $8,500,000 Series A Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=5b134b5a-7e6f-41bb-8e7e-abda8700e54b&Preview=1 Date 2/3/2009 Company Name Delphix Mailing Address 960 San Antonio Rd 2nd Floor Palo Alto, CA 94303 Company Description Delphix Corp. is a stealth software company funded by Greylock and Lightspeed, developing an innovative database management application. Databases are at the heart of the information economy, and the tremendous expansion of … Continue reading “Delphix Receives $8,500,000 Series A Round”
iWidgets Garners $4,100,000 Series A Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=d2a2b24f-880b-4635-b1b7-d1a724b5954c&Preview=1 Date 2/3/2009 Company Name iWidgets Mailing Address 21 Stillman St. San Francisco, CA 94107 Company Description iWidgets drives traffic and interest from your fans and their friends by socially syndicating your website’s interesting content and user activity to popular destination sites such as Facebook, MySpace and iGoogle. Website http://transpond.com/transpond/ Transaction Type … Continue reading “iWidgets Garners $4,100,000 Series A Financing”
Navigenics Receives $18,000,000 Series C Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=3cd62041-f0f5-449b-af5b-d7f1923fb695&Preview=1 Date 2/3/2009 Company Name Navigenics Mailing Address 1001 E. Hillsdale Blvd Foster City, CA 94404 Company Description NAVIGENICS, INC. is a privately held company offering personalized, genetics-based consumer health and wellness services to our members. Our founders and advisors include leading genetic scientists, physicians, genetic counselors, bioethicists, patient advocates, health policy … Continue reading “Navigenics Receives $18,000,000 Series C Financing Round”
Hollis-Eden Lays Off One-Third in “Aggressive” Cost-Cutting
San Diego’s Hollis-Eden Pharmaceuticals (NASDAQ: [[ticker:HEPH]]) said today it’s laying off 20 employees—a third of its workforce—as part of an aggressive cost-cutting plan to preserve capital until 2011. The San Diego layoff tracker has been updated here. Hollis-Eden specializes in developing small molecule compounds based on adrenal steroid hormones and that are intended to restore … Continue reading “Hollis-Eden Lays Off One-Third in “Aggressive” Cost-Cutting”
Merck Nabs Harvard Scientist To Replace Rosetta Founder as Oncology Research Head
Merck is consolidating its cancer research in Boston, and now it has landed an academic research star from Harvard to run the place. The pharmaceutical giant said it has hired D. Gary Gilliland, a renowned Harvard cancer researcher, to be its new senior vice president of Merck Research Labs in charge of its oncology franchise. … Continue reading “Merck Nabs Harvard Scientist To Replace Rosetta Founder as Oncology Research Head”
THQ Closes San Diego Office to Focus Wireless Game Development on Smartphones
Video game maker THQ (NASDAQ: [[ticker:THQI]]) confirmed today the company is closing down its wireless game development unit in San Diego and laying off 31 employees. (Check San Diego’s updated layoff tracker here.) The cutback is part of a broader consolidation of wireless game development that includes shutdowns of similar operations in the United Kingdom … Continue reading “THQ Closes San Diego Office to Focus Wireless Game Development on Smartphones”
MolecularMD Raises $3M
MolecularMD, a Portland, OR-based maker of molecular diagnostic tests for cancer, has raised $3 million in a new round of financing, according to data from VentureDeal. The company was founded in 2006 on technology from Brian Druker and Michael Heinrich at Oregon Health & Science University.
Two Paths, One Goal: Motricity, Winshuttle Report Record Software Sales
What recession? Two privately-held software startups on the Eastside announced today they are raking in the dough, boosted by record sales. Besides that common thread, though, they could scarcely be more different. One company (Motricity) is in mobile content delivery, the other (Winshuttle) in business-management software. The first is heavily funded by VCs, the latter … Continue reading “Two Paths, One Goal: Motricity, Winshuttle Report Record Software Sales”
Creating Successful Apps for the Apple iPhone
Facedouble.com’s Alex Shah provides a case study in what to do and what not to do when it comes to developing and marketing an iPhone app. The seminar, sponsored by the San Diego Software Industry Council, is open to members and non-members. But you must pre-register here.
How Did They Do It? The Breakout Companies of 2008
The San Diego Venture Group has recruited a group of venture capitalists, media, and key service providers to nominate companies that stood out in 2008 for local “Breakout Company of the Year.” The SDVG board will then choose two winners—one life sciences venture and one technology venture. They will both be announced at the breakfast … Continue reading “How Did They Do It? The Breakout Companies of 2008”
Commercial Leasing Strategies for Startups
Experts in the San Diego commercial real estate market review current data on availability, rental rates, and tactics that can help nontraditional companies limit their exposure. The event is intended for business leaders who make commercial leasing decisions. Registration begins at 7:30 a.m., or register online at Connect.
Boston VCs Pour Cash into Cash4Gold’s Superbowl Spot
If you were watching the Superbowl yesterday, you may have seen the tongue-in-cheek ad in which down-on-their luck celebrities Ed McMahon and MC Hammer hawked Cash4Gold, a Pompano Beach, FL-based metal refinery that sends customers checks for mailing in their unwanted gold, silver, or platinum jewelry. An e-mail about the ad circulated this weekend by … Continue reading “Boston VCs Pour Cash into Cash4Gold’s Superbowl Spot”
Elemental, In-Q-Tel Ink Deal
Portland, OR-based Elemental Technologies announced today it has signed a strategic partnership and technology development deal with In-Q-Tel, the venture arm of the CIA and the U.S. intelligence community. Financial terms were not disclosed. Elemental makes video processing software that takes advantage of existing graphics chips.
Plot Thickens at Amylin: Eastbourne Capital Enters Power Play With Carl Icahn
Carl Icahn isn’t the only one who sees an opportunity to shake things up at San Diego-based Amylin Pharmaceuticals. Today, Eastbourne Capital Management announced it, too, plans to nominate a slate of five new directors for election to the company’s 12-member board at the upcoming annual meeting. Eastbourne, which says it owns 12.5 percent of … Continue reading “Plot Thickens at Amylin: Eastbourne Capital Enters Power Play With Carl Icahn”
Millipore Buys Guava
Billerica, MA-based Millipore (NYSE: [[ticker:MIL]]), a maker of equipment for life-sciences research and pharmaceutical manufacturing, says it will acquire Guava Technologies of Hayward, CA, under an agreement announced today. Millipore says it will pay $22.6 million for Guava, which makes flow cytometry and cell assay systems, including systems for counting CD4 T-cells in HIV/AIDS patients.
Nuance Still Stalking Zi
After its last bid to acquire Calgary, Alberta-based Zi Corporation (NASDAQ: [[ticker:ZICA]]) for $0.40 per share expired on Friday, Burlington, MA-based speech technology giant Nuance Communications (NASDAQ: [[ticker:NUAN]]) now says Zi has until February 13 to respond to its offer. The board at Zi, which makes software for quickly typing text into mobile devices that … Continue reading “Nuance Still Stalking Zi”
Greening the Internet in a Carbon-Constrained World
This year marks a turning point in the debate on global climate change. The focus of the discussion is rapidly moving from a scientific analysis of how human activity effects climate change to a political process on how best to regulate greenhouse gas emissions. California is leading this shift with its 2006 Assembly Bill 32 (AB32) … Continue reading “Greening the Internet in a Carbon-Constrained World”
Synta Melanoma Data Coming in May
Synta, the Lexington, MA-based developer of cancer drugs, said today it has completed enrolling 630 patients in a clinical trial of its lead product candidate for melanoma that has spread through the body. The company (NASDAQ: [[ticker:SNTA]]) has a goal of releasing results from the study in May. We profiled Synta’s efforts to develop this … Continue reading “Synta Melanoma Data Coming in May”
New England VCs Well Down Midas List—Oxford’s Fambrough Leads Pack
Mike Moritz, John Doerr. John Doerr, Mike Moritz. It seems like those two Silicon Valley names perennially head Forbes’ Midas List of top VCs, often taking turns in the No. 1 spot. This year (like last year, though) it’s Doerr, of Kleiner Perkins Caufield & Byers, in the first position, with Moritz of Sequoia Capital … Continue reading “New England VCs Well Down Midas List—Oxford’s Fambrough Leads Pack”
Grim January for Tech Jobs
The damage to Bay State technology employment rolls was far greater in January than in any month since the downturn began. By Xconomy’s count, New England tech firms laid off at least 5,675 workers as 2009 began, compared to 2,028 layoffs in November and 1,428 in December, the two worst months prior to January. Massive … Continue reading “Grim January for Tech Jobs”
Pathway Medical Tool Shows Early Signs of Emerging as “Real Winner”
It’s still early in the ballgame for Pathway Medical Technologies, but the Kirkland, WA-based medical device maker says demand for its first marketed product—a tool for cleaning out clogged leg arteries—is climbing, and it appears to be on its way to becoming a hit. Pathway is a private company, so chairman Tom Clement doesn’t have … Continue reading “Pathway Medical Tool Shows Early Signs of Emerging as “Real Winner””
Qualcomm’s MediaFLO Depends on DTV Switchover, Carl Icahn Raises Stakes for Amylin, Slacker Gets $5M, & More San Diego BizTech News
With patents counted, investments disclosed, and financial results reported, San Diego wireless giant Qualcomm seemed to dominate the Xconomy news last week. There were plenty of other developments, though, in life sciences, robotics, and other sectors of the innovation economy. Read on! —By necessity, a few interesting nuggets got left out when we compiled our … Continue reading “Qualcomm’s MediaFLO Depends on DTV Switchover, Carl Icahn Raises Stakes for Amylin, Slacker Gets $5M, & More San Diego BizTech News”
UW Startups Have the Tech Part Down, Need Management Talent, Says Janis Machala
It’s been three months since Janis Machala took the helm of LaunchPad, the University of Washington’s support service for UW spinoffs. Her charge: to grow the service into a world-class entrepreneurial assistance program, and to promote the creation of new startups based on university research. I recently dropped in on Machala, a former tech executive … Continue reading “UW Startups Have the Tech Part Down, Need Management Talent, Says Janis Machala”
Stopping Migraines Before They Hurt: NeurAxon Pursues New Pain Drug
Nobody has yet come up with a drug that can stop the pain from migraine headaches before it starts. By this time next year, the people at Waltham, MA-based NeurAxon will know if they have created the first drug that works for the roughly one-third of patients who get a serious inkling before migraines kick … Continue reading “Stopping Migraines Before They Hurt: NeurAxon Pursues New Pain Drug”
SG Biofuels, Emerging From Stealth, Aims to Make Biodiesel From Hardy Shrub
Another San Diego biofuel company is coming out of stealth mode today. SG Biofuels specializes in developing Jatropha, a hardy shrub found throughout Latin America that produces oval-shaped seeds that can be used to produce biodiesel and other petroleum feedstocks. SG plans to make its public debut this afternoon in a presentation at the 2009 … Continue reading “SG Biofuels, Emerging From Stealth, Aims to Make Biodiesel From Hardy Shrub”
Gen-Probe Buys UK Diagnostics Company
San Diego-based Gen-Probe (NASDAQ: [[ticker:GPRO]]) says it’s buying Tepnel Life Sciences, a British medical diagnostics company, for about $132.2 million. Gen-Probe chairman and CEO Hank Nordoff says the buyout expands Gen-Probe’s focus on nucleic acid tests by adding Tepnel’s expertise in genetic tests for cystic fibrosis, Down syndrome and inherited levels of high cholesterol. Gen-Probe’s … Continue reading “Gen-Probe Buys UK Diagnostics Company”
Selling in a Downturn to a Single Bidder–at Maximum Value
Faced with a slowing economy, corporate buyers will increasingly turn to unsolicited acquisition offers to fulfill strategic objectives. Armed with cash and eying attractive buying opportunities, forward-looking corporations are now pinpointing potential acquisition targets that fill specific corporate needs and will help restart growth. For many prospective sellers now may surprisingly be an advisable time … Continue reading “Selling in a Downturn to a Single Bidder–at Maximum Value”
Mixpo Secures $4,000,000 New Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=b39f0b00-2297-4455-913d-f7bc4d3dc764&Preview=1 Date 2/2/2009 Company Name Mixpo Mailing Address 1809 7th Ave Seattle, WA 98101 Company Description Mixpo is an online video advertising technology company based in Seattle. Meet our highly spirited, seasoned management team and expert board members. Website http://www.mixpo.com Transaction Type Venture Equity Transaction Amount $4,000,000 Transaction Round Undisclosed Proceeds Purposes … Continue reading “Mixpo Secures $4,000,000 New Round”
SpinalMotion Secures $500,000 Series C Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=1aa2f71d-e7f2-42be-9a88-ef91583af7bc&Preview=1 Date 2/2/2009 Company Name SpinalMotion Mailing Address 201 San Antonio Circle Mountain View, CA 94040 Company Description SpinalMotion is dedicated to preserving motion in the spine for patients with degenerative disc disease. Website http://www.spinal-motion.com Transaction Type Venture Equity Transaction Amount $500,000 Transaction Round Series C Proceeds Purposes Proceeds purposes were not … Continue reading “SpinalMotion Secures $500,000 Series C Financing Round”
R2 Semiconductor Receives $2,000,000 Series A Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=84eb7dbc-ca21-4414-9974-faae898a7d0b&Preview=1 Date 2/2/2009 Company Name R2 Semiconductor Mailing Address 1277 North Borregas Ave Sunnyvale, CA 94089 Company Description R2 Semiconductor Inc is a chip startup company. Website Undisclosed Transaction Type Venture Equity Transaction Amount $2,000,000 Transaction Round Series A Proceeds Purposes Proceeds purposes were not disclosed. M&A Terms Venture Investor Sigma Partners … Continue reading “R2 Semiconductor Receives $2,000,000 Series A Financing Round”
MTTC Early-Stage Life Sciences Technology Conference V
Our friends over at the Massachusetts Technology Transfer Center, led by Xconomist Abigail Barrow, always put on a great conference featuring the latest life sciences technology from state research institutions and recently formed companies spun off from those institutions (this is the fifth year, hence the V). The presentations are fast-paced and lively, the audience … Continue reading “MTTC Early-Stage Life Sciences Technology Conference V”
SOURCE Boston 2009
The SOURCE conferences focus on the business of computer security, from technology to business practices, through what are billed as highly interactive sessions and networking opportunities. At this year’s Boston conference, the early bird rate is being extended to anyone who attended last year, no matter when they signed up—and to anyone those people refer. … Continue reading “SOURCE Boston 2009”
Teradyne Cuts 532 Workers
Teradyne (NYSE: [[ticker:TER]]), the North Reading, MA-based maker of automatic test equipment for the electronics industry, said after the markets closed today that it booked major losses for the fourth quarter and that it will retrench by cutting its workforce worldwide by 14 percent, or 532 positions. It’s not known how many of the cuts, … Continue reading “Teradyne Cuts 532 Workers”
PayScale Raises $2M for Salary and Compensation Site
Xconomy has learned that Seattle-based PayScale has raised $2 million in a Series C round of venture funding. The investors in this round were not disclosed. A company spokesman confirmed the deal. PayScale was founded in 2000 by Joe Giordano, and in the past has been backed by Fluke Venture Partners, Madrona Venture Group, Trinity … Continue reading “PayScale Raises $2M for Salary and Compensation Site”
$146M Missile Contract for Draper
The United States Navy announced today that it has awarded a $146 million contract to Cambridge, MA-based Charles Stark Draper Laboratory for work on guidance systems to extend the life of the Trident II, a submarine-launched nuclear missile developed by Lockheed Martin in the 1980s. About 12 percent of the work will occur at Draper’s … Continue reading “$146M Missile Contract for Draper”
Governor Patrick Tours Cambridge Innovation Center
Companies headquartered at the Cambridge Innovation Center, a rental office facility where scores of Boston-area entrepreneurs have gotten their ideas off the ground, played host to Massachusetts Governor Deval Patrick this afternoon. Patrick and other officials—including Massachusetts Life Sciences Center president Susan Windham-Bannister and Greg Bialicki, Patrick’s choice to replace outgoing Secretary of Housing and … Continue reading “Governor Patrick Tours Cambridge Innovation Center”
Marchex Trims Staff, Reorganizes
Seattle-based Marchex (NASDAQ: [[ticker:MCHX]]), a local search and advertising firm, announced today it is cutting 15 jobs, or 4 percent of its staff, in a restructuring. Marchex also said it is actively adding positions where it needs further skills and resources.