AVI Biopharma, the Portland, OR-based biotech company, said it has received commitments from investors for $16.5 million in new capital. The company (NASDAQ: [[ticker:AVII]]) is selling 14.2 million shares of common stock at $1.16 a share to select institutional investors, including Eastbourne Capital Management. AVI is developing next-generation treatments that use antisense technology for gene … Continue reading “Ebola Fighter, AVI, Raises $16.5M”
Burnham Gets $10M Donation
Conrad Prebys, a San Diego real estate investor and philanthropist, is giving $10 million to the Burnham Institute for Medical Research to support Burnham’s drug discovery center. After getting a $98 million grant in September from the National Institutes of Health, Burnham’s renamed Conrad Prebys Center for Chemical Genomics has become part of the largest … Continue reading “Burnham Gets $10M Donation”
Kyocera Cuts 250 Wireless Jobs
Kyocera plans to lay off 250 employees from its mobile phone division in San Diego, where the Japanese electronics giant maintains its North American headquarters. The cutbacks, reported today in the San Diego Union-Tribune, resulted from the economic downturn and a consolidation of wireless engineering functions in Japan following Kyocera’s purchase of Sanyo’s cell phone unit for … Continue reading “Kyocera Cuts 250 Wireless Jobs”
Progress Toward Winning the War on Cancer
The American Cancer Society and the Massachusetts Biotechnology Council, which are partnering on the “Cancer Research Challenge,” present an afternoon seminar on opportunities to accelerate academic and industry research on cancer treatments. Keynote speakers will include Tyler Jacks, director of the Koch Institute for Integrative Cancer Research at MIT, and Matthew Meyerson, Associate Professor of … Continue reading “Progress Toward Winning the War on Cancer”
Healthcare Policy—Delivering the ‘Get-Well’ Plan
How do industry, government, innovators, clinicians, and investors work together to create both “health” and “wealth”? Such “Connected Health” is the subject of this evening forum at the British Consulate-General Boston, the full title of which is, Healthcare Policy—Delivering the ‘Get-Well’ Plan: The Role of Connected Health. Speakers include: —Dr. JudyAnn Bigby, Secretary of Health … Continue reading “Healthcare Policy—Delivering the ‘Get-Well’ Plan”
VC Group Plots Familiar Strategy For Industry Recovery
The venture capital model might not be completely broken, but the chairman of the National Venture Capital Association says it needs to be fixed. With only six venture-backed IPOs in 2008—the worst showing since 1976—NVCA chairman Dixon Doll says the venture industry needs to help restart stalled capital markets. Doll says the Virginia-based NVCA is … Continue reading “VC Group Plots Familiar Strategy For Industry Recovery”
Ekos, Maker of Ultrasound Clot Dissolver, Raises $12.5 Million for Commercial Push
Ekos has been working for more than a decade on a miniature ultrasound probe that slithers inside leg veins, and gently amplifies the effect of drugs that dissolve blood clots. The long slog of research and development is done, the manufacturing is set up, and now Xconomy has learned the Bothell, WA-based company has raised … Continue reading “Ekos, Maker of Ultrasound Clot Dissolver, Raises $12.5 Million for Commercial Push”
WonderGlen Comedy Portal Designed to Plumb Internet’s Unreality, Says Karlin
I outed Ben Karlin. Not that way: he’s straight, at least judging from his mom’s foreword to Things I’ve Learned from Women Who’ve Dumped Me, the 2008 essay collection Karlin edited. I mean I outed him as the creator of WonderGlen, a painfully funny comedy website that appeared out of nowhere last October. Purporting to … Continue reading “WonderGlen Comedy Portal Designed to Plumb Internet’s Unreality, Says Karlin”
Dicerna Aims to Gain Foothold in RNAi World With More Potent, Longer-Lasting Gene Silencers
Most of the headlines in the RNA interference world go to Cambridge, MA-based Alnylam Pharmaceuticals (NASDAQ: [[ticker:ALNY]]). While that company says it has amassed enough intellectual property—and cash—to dominate this emerging field of gene-silencing technologies for years, they aren’t the only game in town. One intriguing upstart of the RNAi field is a privately held … Continue reading “Dicerna Aims to Gain Foothold in RNAi World With More Potent, Longer-Lasting Gene Silencers”
UW Starts Program to Train Faculty in the Art of Startups
The University of Washington’s TechTransfer department has launched a new program over the last four months that brings local entrepreneurs into the university to help academic researchers in the early stages of starting a company. This program, which is part of UW’s startup-support service, LaunchPad, matches volunteer entrepreneurs with faculty and other researchers interested in … Continue reading “UW Starts Program to Train Faculty in the Art of Startups”
Exact Teams With Genzyme, Shrugs off Sequenom; Virtual Computer Reels in $15M; Beacon Power Inks National Grid Agreement; & More Boston-Area Deal News
Plenty of deals to discuss from all areas of technology and life sciences this week—including a couple of M&A switcheroos. —Diagnostics maker Exact Sciences (NASDAQ:[[ticker:EXAS]]) of Marlborough, MA, sold its assets related to prenatal and reproductive health to Cambridge, MA-based Genzyme (NASDAQ:[[ticker:GENZ]]) for $24.5 million. In response, San Diego-based Sequenom (NASDAQ:[[ticker:SQNM]]) ended its attempted takeover … Continue reading “Exact Teams With Genzyme, Shrugs off Sequenom; Virtual Computer Reels in $15M; Beacon Power Inks National Grid Agreement; & More Boston-Area Deal News”
Radialpoint Acquires HiWired for Undisclosed Sum
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=71dc2a08-06b9-4e9f-8bcf-741845da7bf8&Preview=1 Date 1/30/2009 Company Name HiWired Mailing Address 117 Kendrick Street Needham, MA 02494 Company Description HiWired partners with electronics manufacturers, retailers and Internet providers to offer remote technology management services to consumers and small businesses. Website http://www.hiwired.com Transaction Type M&A Transaction Amount Undisclosed Transaction Round Proceeds Purposes M&A Terms Financial terms … Continue reading “Radialpoint Acquires HiWired for Undisclosed Sum”
MolecularMD Lands $3,000,000 New Funding Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=7c1ec71f-dbc7-449c-befe-c95f67915358&Preview=1 Date 1/30/2009 Company Name MolecularMD Mailing Address 2611 SW 3rd Ave. Portland, OR 97201 Company Description Founded in 2006, MolecularMD is a molecular diagnostics company specializing in clinical development and commercialization of state-of-the-art genomic assays to measure patient response and resistance to targeted cancer therapies. The company has over 30 years … Continue reading “MolecularMD Lands $3,000,000 New Funding Round”
PayScale Receives $2,000,000 Series C Funding
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=f659fa75-4b70-4734-a5d4-717abb56cd9a&Preview=1 Date 1/30/2009 Company Name PayScale Mailing Address 316 Occidental Avenue Seattle, WA 98104 Company Description PayScale is a market leader in online compensation and benefit information, providing access to accurate compensation data for both employees and employers. Website http://www.payscale.com Transaction Type Venture Equity Transaction Amount $2,000,000 Transaction Round Series C Proceeds … Continue reading “PayScale Receives $2,000,000 Series C Funding”
SocialMedia Networks Lands $6,000,000 New Funding Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=65a8343e-f6a1-4221-8acc-2479cf9af5cd&Preview=1 Date 1/30/2009 Company Name SocialMedia Networks Mailing Address Pier 38 San Francisco, CA 94107 Company Description SocialMedia Networks is the leading provider of social platform services. It fuses together three core features – management, marketing, and monetization – into a comprehensive package that advertisers and developers can use to grow awareness, … Continue reading “SocialMedia Networks Lands $6,000,000 New Funding Round”
Arcxis Biotechnologies Garners Series B Funding Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=de667084-f6bc-4203-801f-49b28857c845&Preview=1 Date 1/30/2009 Company Name Arcxis Biotechnologies Mailing Address 6920 Koll Center Parkway Pleasanton, CA 94566 Company Description Arcxis Biotechnologies is a maker of laboratory systems for disease pathogen detection and clinical diagnostics. Headquarters are in Pleasanton, California. Website http://www.arcxis.com Transaction Type Venture Equity Transaction Amount Undisclosed Transaction Round Series B Proceeds … Continue reading “Arcxis Biotechnologies Garners Series B Funding Round”
Purewire Acquires Opinity for Undisclosed Sum
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=bda5ee31-06b6-4ec9-b255-c2b3013dc855&Preview=1 Date 1/30/2009 Company Name Opinity Mailing Address Undisclosed San Jose, CA 95112 Company Description Provides online personal reputation services. Website http://www.opinity.com Transaction Type M&A Transaction Amount Undisclosed Transaction Round Proceeds Purposes M&A Terms Financial terms of the transaction were not disclosed.
Venture Funding For Audiophiles: $5 Million Round Picks Up Slacker
Slacker, the San Diego startup that provides customized music streaming, is apparently no slouch when it comes to raising venture funding. The firm raised $5 million in bridge financing this week, based on a regulatory filing picked up by Dow Jones VentureWire and VentureDeal. Founded in 2004 and headed by former MusicMatch CEO Dennis Mudd, … Continue reading “Venture Funding For Audiophiles: $5 Million Round Picks Up Slacker”
Cardiac Dimensions Wins European Clearance to Sell Device for Heart Failure
Cardiac Dimensions did what it said it was going to do. The Kirkland, WA-based medical device company, which we profiled earlier this week, has won permission from European regulators to start selling its first product, a minimally-invasive implanted device to tighten up leaky heart valves. The company has gotten its clearance in Europe through what … Continue reading “Cardiac Dimensions Wins European Clearance to Sell Device for Heart Failure”
UW Tech Transfer Snaps Up RealNetworks Lawyer, Microsoft Licensing Guru
Linden Rhoads, the high-tech entrepreneur hired last summer to help the University of Washington spin out more innovations into the business world, is bringing in new blood from the corporate world into key staff roles at her office. The UW has recruited Todd Alberstone of RealNetworks, and Ed Cummings of Microsoft to join the TechTransfer … Continue reading “UW Tech Transfer Snaps Up RealNetworks Lawyer, Microsoft Licensing Guru”
Carl Icahn Makes Move on Amylin Pharmaceuticals
Carl Icahn has sized up one of San Diego’s biggest biotech companies, Amylin Pharmaceuticals, in the crosshairs. The famed billionaire investor said today he has bought up an 8 percent stake in the company, and that he intends to nominate a slate of five new directors to Amylin’s 12-member board. Icahn made the announcement today … Continue reading “Carl Icahn Makes Move on Amylin Pharmaceuticals”
Overland Names New CEO
San Diego data storage company Overland Storage (NASDAQ: [[ticker:OVRL]]) has named board member and former Snap Appliance CEO Eric Kelly as CEO. Vern LoForti, who was Overland’s president and CEO, will continue to serve as president. Kelly, a longtime computer and data storage executive, has worked closely with Overland’s management team to formulate its restructuring … Continue reading “Overland Names New CEO”
Atlas Venture Closes New Fund with $283M, Does the Staffing Shuffle
Boston- and London-based Atlas Venture announced today that it has closed its eighth fund with $283 million committed by existing limited partners Kisco Management, The Kresge Foundation, Paul Capital, and others, and new limited partners such as Franklin Park, Industriens Pensionsforsikring A/S, and Meketa Investment Group. The fund’s first investment was in Waltham, MA-based CloudSwitch, … Continue reading “Atlas Venture Closes New Fund with $283M, Does the Staffing Shuffle”
Switchbox Bought by Lenovo
Seattle consumer-tech startup Switchbox Labs has been acquired by Lenovo, the personal computer maker, for an undisclosed price. Switchbox co-founders Michael Sievert, Robert Dickinson, and Blake Ramsdell will join Lenovo. Sievert was previously a Windows vice president at Microsoft.
TheraGenetics Bought by Avacta
TheraGenetics, a Cambridge, MA and London-based diagnostics company, said today it agreed to be acquired by UK-based Avacta Group for an undisclosed amount of cash and stock. TheraGenetics is developing diagnostic tests to see how individual patients might respond to drugs for schizophrenia, depression, bipolar disorder, Alzheimer’s disease and attention deficit hyperactivity disorder.
Zafgen Cuts Deal With Argenta
Zafgen, the Cambridge, MA-based developer of drugs to shrink fat tissue, said today it has formed a partnership with Harlow, UK-based Argenta Discovery. Argenta, a contract research firm, will assist with the development of one of Zafgen’s experimental treatments for obesity. Earlier this week, we profiled this company’s quest to pioneer a new method of … Continue reading “Zafgen Cuts Deal With Argenta”
Carbonite CEO Apologizes for Planted Amazon Reviews, But Bristles at Critics
Boston-based Carbonite, whose online backup service is the main competitor for Decho’s Mozy, has gotten some good publicity over the last few months for its tongue-in-cheek promotions on Jimmy Kimmel Live and other TV and radio programs. But the company is taking a public relations hit this week over a recently uncovered case of reviews … Continue reading “Carbonite CEO Apologizes for Planted Amazon Reviews, But Bristles at Critics”
Metcalfe Misses Xconomy Band Battle—Climbs Kilimanjaro Instead
A few weeks ago, after sending out a notice reminding folks of our then-upcoming Xconomy Battle of the Tech Bands on January 22, I got an e-mail back from Bob Metcalfe of Polaris Venture Partners. It read: “Thanks for inviting me…but darn, on January 22, I will be returning from Africa, having just climbed (I … Continue reading “Metcalfe Misses Xconomy Band Battle—Climbs Kilimanjaro Instead”
CMC Icos Cuts 7.5% of Workforce
CMC Icos Biologics, a contract manufacturer of biotech drugs in Bothell, WA, has cut 11 jobs, or about 7.5 percent of its workforce, a company spokesman confirmed. CMC Icos will now have about 130 employees. It’s the second recent sign of hunkering down at CMC Icos: last month it said it is postponing plans to … Continue reading “CMC Icos Cuts 7.5% of Workforce”
General Atomics’ Blue Brothers Get Inducted-And That’s a Good Thing
San Diego defense contractor SAIC has been described as “the largest company nobody’s ever heard of,” but it’s been hard to make that stick since the company’s IPO in 2006. No matter. Another San Diego government contractor qualifies as heir apparent for the title. The only issue is that nobody outside of the company knows … Continue reading “General Atomics’ Blue Brothers Get Inducted-And That’s a Good Thing”
From Starbucks to Startups: Rob Grady’s Take on What Coffee and Web 2.0 Have in Common
Coffee is so last year. Just ask Rob Grady, the former Starbucks executive who joined Seattle-based social publishing startup Wetpaint as senior vice president of marketing earlier this month. OK, Grady still enjoys a triple tall Americano or a double tall nonfat caramel macchiato from time to time—his new favorite Starbucks is in the Wells … Continue reading “From Starbucks to Startups: Rob Grady’s Take on What Coffee and Web 2.0 Have in Common”
Seattle Genetics Raises Dough, Trubion Feels Fallout of Pfizer Deal, Novo Sets Up Shop, & More Seattle-Area Life Sciences News
The great fear in biotech, one Boston-based executive told me a couple weeks ago, is that the markets have turned so dark that fundamentals no longer matter. The idea is that a company could show its drug really works, but the stock still won’t fly. At least one company in our neck of the woods, … Continue reading “Seattle Genetics Raises Dough, Trubion Feels Fallout of Pfizer Deal, Novo Sets Up Shop, & More Seattle-Area Life Sciences News”
Sequenom Blood Test for Down’s Syndrome Clears Higher Hurdle, Company Plots Aggressive Moves Toward Market
Sequenom CEO Harry Stylli vowed to me last fall that he is on a mission to build the “Google of Molecular Diagnostics” in San Diego. Now he has a new batch of clinical trial results in hand that has done nothing to diminish his audacious goal. The San Diego-based company (NASDAQ: [[ticker:SQNM]]) said last night … Continue reading “Sequenom Blood Test for Down’s Syndrome Clears Higher Hurdle, Company Plots Aggressive Moves Toward Market”
OLPC 2.0: After Layoffs, One Laptop Foundation Reboots With New Focus and Big Plans
For those inspired by Nicholas Negroponte’s vision of bringing affordable computing to every child on the planet, it was a sad day early this month when the One Laptop Per Child Foundation he founded announced it was laying off half its staff and undertaking a significant reorganization. Negroponte himself isn’t crying, though—he is working on … Continue reading “OLPC 2.0: After Layoffs, One Laptop Foundation Reboots With New Focus and Big Plans”
PayScale Lands $2,000,000 Series C Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=f659fa75-4b70-4734-a5d4-717abb56cd9a&Preview=1 Date 1/29/2009 Company Name PayScale Mailing Address 316 Occidental Avenue Seattle, WA 98104 Company Description PayScale is a market leader in online compensation and benefit information, providing access to accurate compensation data for both employees and employers. Website http://www.payscale.com Transaction Type Venture Equity Transaction Amount $2,000,000 Transaction Round Series C Proceeds … Continue reading “PayScale Lands $2,000,000 Series C Financing”
Sonitus Medical Receives $13,500,000 Series B Funding Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=c7f26d6f-841d-4cf9-9ce7-3949ea036cc6&Preview=1 Date 1/29/2009 Company Name Sonitus Medical Mailing Address 1825 S. Grant Street San Mateo, CA 94402 Company Description Sonitus Medical, Inc. is committed to innovating novel hearing solutions. Our mission is to serve the Otolaryngology and Audiology professional community by providing therapeutic solutions to address the unmet clinical needs of their … Continue reading “Sonitus Medical Receives $13,500,000 Series B Funding Round”
AdMob Lands $12,500,000 Series C Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=0d2886f2-2d13-464a-8e17-9f99bd269e6c&Preview=1 Date 1/29/2009 Company Name AdMob Mailing Address 60 East 3rd Avenue San Mateo, CA 94401 Company Description AdMob is the world’s largest mobile advertising marketplace. Founded in 2006, AdMob allows advertisers to reach their customers on the mobile Web and publishers to increase the value of their mobile sites through advertising. … Continue reading “AdMob Lands $12,500,000 Series C Financing”
Qualcomm Dodges Bullet in Dispute Over Digital TV Conversion—For Now
Top executives at San Diego’s Qualcomm (NASDAQ: [[ticker:QCOM]]) must’ve breathed a sigh of relief today, when the U.S. House of Representatives defeated a bill that would have delayed a planned switch to digital TV on Feb. 17. The House vote against the delay followed a bill the Senate passed unanimously on Monday, which called for postponing … Continue reading “Qualcomm Dodges Bullet in Dispute Over Digital TV Conversion—For Now”
Intellectual Ventures Buys Transmeta Patents
Bellevue, WA-based Intellectual Ventures announced today it has acquired the patent portfolio of Santa Clara, CA-based semiconductor firm Transmeta. Financial terms of the deal were not disclosed, but Intellectual Ventures gains more than 140 U.S. patents and a “substantial number of pending patent applications,” according to a company statement. Transmeta was acquired by Novafora for … Continue reading “Intellectual Ventures Buys Transmeta Patents”
Boston Biotech Business Development Conference
How do life sciences companies continue to develop their business activities in the current economic environment? Well, top executives from Big Pharma and leading biotechs, among others, are convening for the third annual Boston Biotech Business Development Conference to share their insights “on the current and future outlook for licensing, M&A and other business development … Continue reading “Boston Biotech Business Development Conference”
2009 MassTLC Annual Meeting: Seizing Opportunity in Tough Economic Times
You can curl up and hide, or you can try and use the turmoil of hard economic times to gain ground on your competitors and take advantage of other opportunities. The annual meeting of the Massachusetts Technology Leadership Council is focused on the latter. And in addition to the lively discussion, there will be a … Continue reading “2009 MassTLC Annual Meeting: Seizing Opportunity in Tough Economic Times”
Omeros Grabs $3.1M
Omeros, the privately held Seattle-based drug developer, said today it received $3.1 million in equity financing and grants from The Stanley Medical Research Institute to continue animal testing of a treatment for schizophrenia. Omeros previously received $2.6 million from the institute when it reached an agreement to begin the schizophrenia work in December 2006. Earlier … Continue reading “Omeros Grabs $3.1M”
Big New Contracts at Lionbridge
Lionbridge Technologies (NASDAQ: [[ticker:LIOX]]), the Waltham, MA-based translation services company whose financial performance we questioned in a profile last May, announced yesterday that it has obtained several new multi-year contracts that should shore up revenues by $25 to $30 million a year. The company said it had won contracts with a provider of power services … Continue reading “Big New Contracts at Lionbridge”
140 Layoffs at Analogic
Peabody, MA-based medical imaging and airport security company Analogic (NASDAQ: [[ticker:ALOG]]) said today that it will reduce its global workforce by 140 positions, or about 9 percent, in response to declining demand for capital equipment among healthcare organizations. The company said the cuts would save $9.6 million annually. We will update the Boston Tech Layoff … Continue reading “140 Layoffs at Analogic”
Boeing Clips Its Own Wings
Boeing is cutting about 10,000 jobs this year, or 6 percent of its workforce, according to chief executive James McNerney. The news was announced in a conference call this morning. Boeing cited decreased revenues and the global economy as reasons for the cutbacks, which will occur through a combination of layoffs, retirements, and attrition. More … Continue reading “Boeing Clips Its Own Wings”
Microsoft, Sharp, UW Led Washington in 2008 Patents Issued—Here Are the Top 25
[Updated Jan. 28, with information on Intellectual Ventures’ patents (see below)] If its volume of new patents is any indication, Microsoft is going to be just fine. The Redmond, WA, software firm blew away the rest of Washington state in terms of the number of patents it was granted last year. That’s according to IFI … Continue reading “Microsoft, Sharp, UW Led Washington in 2008 Patents Issued—Here Are the Top 25”
Exact Sciences Takes $24.5M Genzyme Deal, Sequenom to Drop Buyout Offer
Exact Sciences, a diagnostics firm that had been running low on cash, has sold its assets related to prenatal and reproductive health to big biotech Genzyme for $24.5 million—prompting Sequenom to end its pursuit to buy Exact in an all-stock deal valued at $41 million, according to statements from Exact and Sequenom. Saying it could … Continue reading “Exact Sciences Takes $24.5M Genzyme Deal, Sequenom to Drop Buyout Offer”
WordStream Launches Low-Cost Search Engine Marketing Tool, Raises $4 Million
Yesterday Bruce wrote about Covario, a San Diego-based search engine marketing (SEM) company whose clients pay $100,000 to $200,000 a year for help making sure that sponsored links to their websites appear in the right places on Google and other search engines. Here in Boston, an SEM company is launching today at the opposite end … Continue reading “WordStream Launches Low-Cost Search Engine Marketing Tool, Raises $4 Million”
Navy to Test Northrop Grumman’s Robotic Helicopter
It has taken roughly 10 years, but a robotic helicopter created in San Diego by Northrop Grumman (NYSE: [[ticker:NOC]]) is finally nearing a critical test phase for the U.S. Navy. The unmanned aircraft, known as the Fire Scout, looks unremarkable, except for the fact that it has no windows. It is based on a small civilian … Continue reading “Navy to Test Northrop Grumman’s Robotic Helicopter”
Renewable Energy Blog Launches
Smith Energy, a Cambridge, MA-based developer of wind, solar, and energy storage projects, today launched a news and opinion blog called Build Baby Build. The blog is focused mainly on helping community members organize distributed generation projects such as wind farms. “Time and time again, important renewable energy projects fail because of a small but … Continue reading “Renewable Energy Blog Launches”