The economic forecast for 2009 has been gloomy so far, but can a new President with new iniatives in energy, cleantech, and tax and regulatory policies alter the economic barometer? David Titus of San Diego’s Windward Ventures moderates a panel of venture capitalists who offer their outlook. The panelists are Dixon Doll, chairman of the … Continue reading “Step Into the Light: Cloudy Venture Outlook With Patches of Sun”
Drug Development in a “Capital Constrained” Economy
Three experienced biotech executives will share their insights on how drug development can be distributed among multiple partners. Such partnerships can include small biotech ventures, large pharmaceutical companies, contract research organizations and even contract manufacturers. You can register online here.
Innovation on a Shoe String
Kenneth P. Morse, managing director of the MIT Entrepreneurship Center, leads a panel discussion about hard economic times and how entrepreneurs can survive and even thrive. They also will talk about innovation on a shoe string, and the critical factors that contribute to entrepreneurial success. You can register online here.
See You At The Show!
Folks in Xconomy’s Boston office are gathering our business cards and dancing shoes for tonight’s second annual Battle of the Tech Bands. Tickets are dwindling fast, but you can still get yours before 4:00 pm online here, or at the door at the Middle East Restaurant & Nightclub. Doors open at 7:00 pm—hope to see … Continue reading “See You At The Show!”
Paul Graham and Y Combinator to Leave Cambridge, Stay in Silicon Valley Year Round
Viaweb founder Paul Graham and his legendary startup incubator Y Combinator, which is arguably the most vibrant, innovative technology startup school in the country, are no longer going to be part of the summer scene in the Boston area. In a message posted on the Y Combinator website (I think last night sometime), Graham has … Continue reading “Paul Graham and Y Combinator to Leave Cambridge, Stay in Silicon Valley Year Round”
Tracing the Ancestry of Puget Sound’s Technology Cluster
When people try to get a sense of the vibrancy in a regional high-tech cluster, they usually look up reams of data on technology licenses, patents, jobs, and number of startups. This morning, I got to look at a fresh (and important) perspective that traces out where the founding people cut their teeth and got … Continue reading “Tracing the Ancestry of Puget Sound’s Technology Cluster”
Meritage Starts Study of Inflammatory Disease
Meritage Pharma, a San Diego-based drug developer, said today it has started a mid-stage clinical trial of an experimental drug for an inflammatory condition of the esophagus, called eosinophilic esophagitis. The trial will enroll 80 children and young adults on three different doses of the Meritage drug or a placebo. We profiled this company’s technology … Continue reading “Meritage Starts Study of Inflammatory Disease”
Largest Layoff in Microsoft History Raises Questions
Here are a few thoughts after listening to the Microsoft earnings conference call. The software giant announced 1,400 layoffs today, with up to 5,000 positions being eliminated over the next 18 months, mostly at its Redmond, WA headquarters. (The company’s New England operations will not be directly affected, according to a Microsoft spokesperson we contacted; … Continue reading “Largest Layoff in Microsoft History Raises Questions”
Axikin Raises $3M After Spinning Out From Actimis
San Diego-based Axikin Pharmaceuticals has reeled in $3 million in a first round of venture financing to advance its young pipeline of drugs to treat respiratory and inflammatory diseases. The investors are Sanderling Ventures, which has offices in San Diego and San Mateo, CA, and Mitsui & Co. Venture Partners in New York, according to … Continue reading “Axikin Raises $3M After Spinning Out From Actimis”
Intel to Shut Down Oregon Plant
Intel announced it will stop production at its 200-mm wafer fabrication plant in Hillsboro, OR, later this year. The move is part of a plan to consolidate manufacturing and test facilities worldwide. Four other Intel plants in Santa Clara, CA, Malaysia, and the Philippines are also slated to close. The restructuring will affect between 5,000 … Continue reading “Intel to Shut Down Oregon Plant”
Microsoft Cuts 5,000 Jobs, Almost 6 Percent of Workforce
Microsoft’s long-rumored job cuts are now official: 5,000 employees will be losing their jobs. The Redmond, WA-based software giant (NASDAQ: [[ticker:MSFT]]) said today in its quarterly earnings report that it is eliminating those positions over the next 18 months, which amounts to almost six percent of its workforce of 90,000 employees. About 1,400 people are … Continue reading “Microsoft Cuts 5,000 Jobs, Almost 6 Percent of Workforce”
Web Innovators Group 21
The 21st iteration in this increasingly popular and well-attended series hosted by Venrock’s David Beisel, featuring presentations by pre-venture-funded startups. Main dish and side dish presentations to be announced. Free registration here.
FriendlyFavor Rolls Out Request Tool for Social Networks
Want to ask your network of friends and colleagues for advice on where to stay when you’re traveling? Or maybe you want to offer recommendations for a local electrician, dentist, or specialty food shop. You could do it all by e-mail, or through existing social networks like Facebook. But dealing with such requests and recommendations … Continue reading “FriendlyFavor Rolls Out Request Tool for Social Networks”
Biotech VCs Look For Ways to Make Deals Work in the Downturn
A new wave of pragmatism has settled over the biotech industry, judging from the comments yesterday by three San Diego-based venture capitalists. Venture capital firms that specialize in biomedical investments still expect to do deals despite the downturn this year, but they are adopting new strategies to minimize risks and maximize returns.It was a theme … Continue reading “Biotech VCs Look For Ways to Make Deals Work in the Downturn”
Overland Storage Unveils New Data-Storage Initiative
After slashing 17 percent of its workforce and making other cutbacks, San Diego’s Overland Storage (NASDAQ: [[ticker:OVRL]]) announced today what CEO Vern LoForti describes as a significant initiative in the company’s turnaround effort. The longtime maker of data storage equipment has been reeling since 2005, when Hewlett-Packard said it was phasing out purchases of tape-based storage … Continue reading “Overland Storage Unveils New Data-Storage Initiative”
Ember’s Wireless Chips Power Smart-Energy Efforts
If you’re a glass-half-empty person, you might say the mesh networking technology pioneered by Boston’s Ember Corporation is a solution in search of a problem. If you’re a glass-half-full person, you’d probably call the company’s eight-year history a case study in flexible thinking. Regardless, after years of market struggles, Ember seems to have found a … Continue reading “Ember’s Wireless Chips Power Smart-Energy Efforts”
From Merger of Invitrogen and Applied Biosystems, Life Technologies Plans to Grow From San Diego Base
Companies usually try to say all the right things about win-win situations when they strike merger deals, but it’s always good to check back after a few months to see if the honeymoon is over. So last week I tracked down Mark Stevenson, one of the principals involved in the November merger of Carlsbad, CA-based … Continue reading “From Merger of Invitrogen and Applied Biosystems, Life Technologies Plans to Grow From San Diego Base”
Dendreon Expects Results in April, Seattle Genetics Plans Hodgkin’s Trial, ImaRx Moves to Town & More Seattle-Area Life Sciences News
The Martin Luther King Jr. holiday and a historic inauguration made this week a little light on Seattle biotech news, but we still gathered some interesting nuggets. —Seattle-based Dendreon (NASDAQ: [[ticker:DNDN]]) made news on the last day of the JP Morgan Healthcare conference in San Francisco, saying that it now expects to have final results … Continue reading “Dendreon Expects Results in April, Seattle Genetics Plans Hodgkin’s Trial, ImaRx Moves to Town & More Seattle-Area Life Sciences News”
Enlight Biosciences and Industry Giant Johnson & Johnson Forge Partnership
Enlight Biosciences, a Boston-based biotech firm advancing new technologies used in the discovery and development of drugs, said today it has gained a commitment from Johnson & Johnson to invest up to $13 million in its programs. Johnson & Johnson, the New Brunswick, NJ-based healthcare giant (NYSE:[[ticker:JNJ]]), is the latest drugmaker to form a partnership … Continue reading “Enlight Biosciences and Industry Giant Johnson & Johnson Forge Partnership”
TPI Composites, Inc. Receives $20,000,000 Series B Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=ecd80578-460d-40d2-9cd9-c32df4f5862c&Preview=1 Date 1/22/2009 Company Name TPI Composites, Inc. Mailing Address 373 Market Street Warren, RI 02885-0367 Company Description TPI is a leading developer and volume manufacturer of large-scale composite structures for the wind energy, transportation and military vehicle markets. The company’s technology excels where high strength, light weight and durability are needed. … Continue reading “TPI Composites, Inc. Receives $20,000,000 Series B Financing”
Enlight Biosciences Lands New Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=d94f9210-f933-4244-b465-f112f41da7f7&Preview=1 Date 1/22/2009 Company Name Enlight Biosciences Mailing Address 222 Berkeley Street Boston, MA 02116 Company Description Enlight is a Boston-based company established in partnership with major pharmaceutical companies to develop breakthrough innovations that will fundamentally alter drug discovery and development. Website http://www.enlightbio.com Transaction Type Venture Equity Transaction Amount Undisclosed Transaction Round … Continue reading “Enlight Biosciences Lands New Financing Round”
SAManage Obtains Series A Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=b40e363a-b784-4c42-8c2a-0f8311ff1c77&Preview=1 Date 1/22/2009 Company Name SAManage Mailing Address 16541 Redmond Way Redmond, WA 98052 Company Description SAManage is a leading provider of Next Generation, on demand, IT Asset Management services. Our IT audit and tracking services can benefit organizations of all sizes. We use state-of-the-art SaaS services to enable any SMB or … Continue reading “SAManage Obtains Series A Financing”
Axikin Pharmaceuticals, Inc. Obtains $3,000,000 Series A Funding
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=bc160860-9ed6-462b-b51a-68cb96802c2a&Preview=1 Date 1/22/2009 Company Name Axikin Pharmaceuticals, Inc. Mailing Address 10835 Road To The Cure San Diego, CA 92121 Company Description The company is developing unspecified pharmaceutical technology. Website Undisclosed Transaction Type Venture Equity Transaction Amount $3,000,000 Transaction Round Series A Proceeds Purposes Proceeds purposes were not disclosed. M&A Terms Venture Investor … Continue reading “Axikin Pharmaceuticals, Inc. Obtains $3,000,000 Series A Funding”
NonStop Riot LLC Secures New Funding Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=792071a4-3f84-4984-a898-f7b92feb7041&Preview=1 Date 1/22/2009 Company Name NonStop Riot LLC Mailing Address 4316 Melrose Avenue Hollywood, CA 90029 Company Description NonStop Riot is a US music branding agency that helps consumer brands break through by leveraging music as a strategy NOT just a tactic. Utilizing emerging technology platforms, artist, label & brand relationships, and … Continue reading “NonStop Riot LLC Secures New Funding Round”
Extreme Reach Obtains $1,500,000 Series A Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=fcc5ebd6-0fb9-4264-b34d-3e8ad714bd47&Preview=1 Date 1/22/2009 Company Name Extreme Reach Mailing Address 75 2nd Avenue Needham, MA 02494 Company Description Our video advertising technology platform enables advertisers and agencies to manage, execute and track video campaigns across all video mediums (broadcast, cable, online publishing, mobile, VOD). Unlike other platforms, Extreme Reach provides a single-source solution … Continue reading “Extreme Reach Obtains $1,500,000 Series A Financing”
Crux Biomedical Receives $8,000,000 Series B Funding Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=a86e57de-9705-462a-8809-080675a6c657&Preview=1 Date 1/22/2009 Company Name Crux Biomedical Mailing Address 1455 Adams Drive Menlo Park, CA 94025 Company Description The company is developing a retrievable Inferior Vena Cava (IVC) filter that promises to be a great improvement over existing modes of treatment. The device has been successfully tested in animal studies in 2006 … Continue reading “Crux Biomedical Receives $8,000,000 Series B Funding Round”
IMVU Obtains $10,000,000 Series D Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=f98b3d52-2de8-4de6-99c8-b887bcae12ac&Preview=1 Date 1/22/2009 Company Name IMVU Mailing Address 164 Hamilton Avenue Palo Alto, CA 94301 Company Description IMVU is a cool new way to hang out and have fun with your friends online! Just like an old-school text-based messenger, you download IMVU’s software onto your PC. But with IMVU you create your … Continue reading “IMVU Obtains $10,000,000 Series D Financing”
Lee Hartwell on “Science and the Arts”
The Friends of the Libraries Annual Meeting features a presentation by Lee Hartwell, Ph.D., the 2001 Nobel Laureate in Physiology or Medicine. Following a brief Friends meeting, Hartwell will be speaking on “Science and the Arts.” A reception will follow the talk. For more information about how to register, click here.
SBRI’s Passport to Global Health Celebration: Paul Farmer Keynote
From multidrug-resistant TB to the HIV/AIDS pandemic, Paul Farmer, the co-founder of Partners in Health, has taken on some of the most difficult challenges of global health and discovered new ways of making progress. Dr. Farmer will be the keynote speaker at Seattle Biomedical Research Institute’s fifth annual Passport to Global Health Celebration on April … Continue reading “SBRI’s Passport to Global Health Celebration: Paul Farmer Keynote”
Obama’s Top-Three Priorities: The Economy, The Economy, and The Economy
Well, we have seen something that I thought I would never see in my lifetime—the elevation of an African-American man to the highest elected office in our land: President of the United States. While we all bask in the afterglow of this momentous occasion, we are in the middle of our most serious recession in decades. … Continue reading “Obama’s Top-Three Priorities: The Economy, The Economy, and The Economy”
Philips Closes Auburn Center, Lays Off 96
Philips Electronics North America is laying off 96 employees at its supply chain solution center in Auburn, WA, according to a notice from Washington State’s Employment Security Department. The staff cuts are effective on March 20, 2009, when the facility will shut down.
Looking to Efficiency to Build Energy Independence
In our current economy, one of the biggest challenges for American lawmakers—at both the state and federal levels—is to do what they can to minimize the impact and shorten the duration of the recession. A cornerstone of our return to prosperity should be a program designed to establish energy independence, with a focus on improving … Continue reading “Looking to Efficiency to Build Energy Independence”
Mazu Acquired by Riverbed
Cambridge, MA-based Mazu Networks, which makes software for optimizing the performance of enterprise applications over networks, will become a unit of San Francisco-based Riverbed Technology (NASDAQ: [[ticker:RVBD]]), according to an announcement yesterday. Riverbed, which focuses on wide-area-network optimization, will pay $25 million up front for Mazu plus up to $22 million in performance-based payments over … Continue reading “Mazu Acquired by Riverbed”
Tableau Boasts Record Sales, New Customers
Seattle data-visualization firm Tableau Software announced its 16th consecutive quarter of record sales, and a host of new customers acquired in the last three months of 2008. Tableau’s new customers include AAA Allied Group, Active Network, Mitel Networks, the University of Texas at El Paso, and U.S. Auto Parts.
Pink Slip Pick Me Up—Get a Free Ticket to Tomorrow’s Battle of the Tech Bands
It’s a small gesture, we know. But if you have been laid off from a job in tech, life sciences, or tech investing we’d like to offer you some spirit-boosting—not to mention a chance to make connections that could lead to new job opportunities—at tomorrow night’s Xconomy Battle of the Tech Bands here in Cambridge. … Continue reading “Pink Slip Pick Me Up—Get a Free Ticket to Tomorrow’s Battle of the Tech Bands”
Data Warehousing Startup Dataupia Expands B Round by $10 Million
Cambridge, MA-based Dataupia, which makes server appliances designed to handle large volumes of business-intelligence queries, said yesterday that it recently closed a “Series B-1” financing round building on its $16 million B round in October 2007. The company didn’t say how much extra money it had raised, but a report today in Private Equity Hub, … Continue reading “Data Warehousing Startup Dataupia Expands B Round by $10 Million”
Seattle Genetics Unveils Pivotal Trial Plan for “Empowered Antibody”
Seattle Genetics has settled on the design of a clinical trial that could pave the way for its first marketed cancer drug. The Bothell, WA-based biotech company (NASDAQ: [[ticker:SGEN]]) said today it has reached an agreement with the FDA on the parameters of a pivotal clinical trial of its SGN-35 drug candidate as a treatment … Continue reading “Seattle Genetics Unveils Pivotal Trial Plan for “Empowered Antibody””
Qualcomm Protests Digital TV Delay
President Obama’s proposed delay of the Feb. 17 conversion to digital television has triggered a protest from San Diego’s Qualcomm (NASDAQ: [[ticker:QCOM]]). According to this report, a letter signed by CEO Paul Jacobs sent Monday to House and Senate leaders says Qualcomm has spent “hundreds of millions of dollars” preparing to launch its MediaFLO video service in 15 new … Continue reading “Qualcomm Protests Digital TV Delay”
Nanogen Seeks Other Suitors
San Diego diagnostics firm Nanogen (NASDAQ:[[ticker:NGEN]]) says that it has clearance to seek options other than its announced merger with French diagnostics company Elitech Group. (Nanogen is noteworthy in part because of its well-known CEO, Howard Birndorf, who co-founded Hybritech, Gen-Probe, and Ligand Pharmaceuticals.) Nanogen now has permission to pursue such options as a restructured … Continue reading “Nanogen Seeks Other Suitors”
Panacos Sells HIV Drug for $7M
Watertown, MA-based Panacos Pharmaceuticals (NASDAQ:[[ticker:PANC]]) says it has sold its lead HIV drug candidate, bevirimat, to Myriad Pharmaceuticals of Salt Lake City for $7 million. Panacos, a developer of antiviral drugs, said it would seek financing options late last year when it disclosed that it agreed to early repayment of a $20 million loan to … Continue reading “Panacos Sells HIV Drug for $7M”
San Diego Algae Biofuels Industry Gains Steam With R&D Consortium
The San Diego region is undertaking a broad initiative to accelerate development of algae-to-biofuels technology by establishing a new organization, the San Diego Center for Algae-based Biofuels, or SD-CAB. The center is being organized by a consortium of academic and industry researchers and represents a regional effort to make sustainable algae-based biofuel production a reality … Continue reading “San Diego Algae Biofuels Industry Gains Steam With R&D Consortium”
ATV Backs Ardian in $30M Financing
Advanced Technology Ventures, which has offices in Waltham, MA, and Palo Alto, CA, has backed medical devices firm Adrian in a $30 million, third round of financing, PE Hub reported, citing a regulatory filing. Ardian, which is developing a device for treating congestive heart failure, also raised money for the round from Morgenthaler Ventures and … Continue reading “ATV Backs Ardian in $30M Financing”
eIQnetworks Secures $10M First Round
Security software firm eIQnetworks says it has raised $10 million in its first round of institutional financing led by venture capital firm Venrock. The Acton, MA-based company’s software provides large companies and organizations speedy remedies to IT security threats, among other features, and the company plans to use the new capital to boost sales and … Continue reading “eIQnetworks Secures $10M First Round”
City of Boston Joins EnerNOC’s Demand Response Network
EnerNOC (NASDAQ: [[ticker:ENOC]]), the Boston-based company that pays factory operators, store owners, and local governments for the right to dial back their electricity usage during times of peak demand, announced today that the City of Boston is finally diving into the local “demand response” pool. Under a new agreement negotiated with the office of Mayor … Continue reading “City of Boston Joins EnerNOC’s Demand Response Network”
Five Questions for Seattle Biotech, Medical Device Leaders About the Year Ahead
Last week at the JP Morgan Healthcare Conference in San Francisco, I did some informal polling of biotech industry leaders in our three Xconomy network hubs of Boston, San Diego, and Seattle. I asked them all the same five questions to get a feel for how they plan to cope with the economic downturn, and … Continue reading “Five Questions for Seattle Biotech, Medical Device Leaders About the Year Ahead”
Regulus, Leading Developer of MicroRNA Drugs, Prepares to Get Independence from Alnylam and Isis
Regulus Therapeutics has shown it can crawl, now it’s ready to walk. The fledgling Carlsbad, CA-based company is taking steps to raise a large round of private investment capital, and become a more independent company developing a new breed of microRNA-based drugs. Regulus plans to raise “a very respectable amount” of capital from private investors, … Continue reading “Regulus, Leading Developer of MicroRNA Drugs, Prepares to Get Independence from Alnylam and Isis”
Madrona Leads $1.5M Investment in PetraVM to Make Software Cheaper, More Reliable
The Seattle-based VC firm Madrona Venture Group has led a seed investment in a University of Washington startup called PetraVM. The deal is worth $1.5 million, and includes investment from Seattle-based WRF Capital. Founded by professors Mark Oskin and Luis Ceze of the UW’s computer science and engineering department, PetraVM is out to improve the … Continue reading “Madrona Leads $1.5M Investment in PetraVM to Make Software Cheaper, More Reliable”
Five Questions for the Future of Biotech in San Diego, Part 2
Yesterday, we ran a couple of in-depth interviews about the future of biotech with two San Diego CEOs—Optimer Pharmaceuticals CEO Michael Chang and Phenomix CEO Laura Shawver. I asked them the same five questions about the outlook of the industry that I asked leaders in Boston, so you can compare the bi-coastal views of the … Continue reading “Five Questions for the Future of Biotech in San Diego, Part 2”
India’s Innovation Front Lines, Part 8 (Final Installment): A Return Home and a Reflection
Boston, Tuesday, January 20–I have been back from India for about two weeks and have had time to reflect on my trip and to view my hometown of Boston with a fresh pair of eyes. The front page news in India was about Satyam Computer Services’ $1 billion fraud and India’s impotence in stopping Pakistani-supported … Continue reading “India’s Innovation Front Lines, Part 8 (Final Installment): A Return Home and a Reflection”
Vertex Stays Put, Hydra Handed $22M, Sequenom Still Pursuing Exact Sciences Acquisition, & More Boston-Area Life Sciences News
[Corrected 1/21/09, see the item on Cynosure] The New England biomedical industry was on the quiet side this past week, but there are still a few tidbits to report. —California-based Sequenom (NASDAQ:[[ticker:SQNM]]) said it would press ahead with its effort to acquire Exact Sciences (NASDAQ:[[ticker:EXAS]]) even though the board of the Marlborough, MA-based diagnostics maker … Continue reading “Vertex Stays Put, Hydra Handed $22M, Sequenom Still Pursuing Exact Sciences Acquisition, & More Boston-Area Life Sciences News”