Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=b9ac383c-d94b-4969-ba4a-76ce8f407aa5&Preview=1 Date 1/12/2009 Company Name Goodmail Systems Mailing Address 2465 Latham Street 2nd Floor Mountain View, CA 94040 Company Description Goodmail Systems created its CertifiedEmail service, the highest standard in email certification, to provide a safe and reliable class of email for the benefit of consumers, legitimate senders and mailbox providers. Website … Continue reading “Goodmail Systems Secures $5,000,000 Series C Round”
Aviir Lands $7,800,000 New Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=292a1885-481c-4eb8-94f3-82b9116e324f&Preview=1 Date 1/12/2009 Company Name Aviir Mailing Address 2463 Faber Place Palo Alto, CA 94303 Company Description Aviir is a venture-funded biotechnology company developing cutting-edge, convenient diagnostic tests enabling accurate diagnosis and prognosis of cardiovascular disease. The company’s proprietary technology draws on years of research at Stanford University, and combines the scientific … Continue reading “Aviir Lands $7,800,000 New Financing Round”
Acclarent Secures $26,000,000 Series D Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=9788fabd-46c1-44ff-93b5-885a74c68f03&Preview=1 Date 1/12/2009 Company Name Acclarent Mailing Address 1525-B O’Brien Drive Menlo Park, CA 94025 Company Description Initially, we are focused on achieving the goals of sinus surgery with novel, endoscopic, catheter-based tools – Balloon SinuplastyTM devices. Through the Balloon SinuplastyTM technology and our Relieva® product portfolio we offer ENT patients alternatives … Continue reading “Acclarent Secures $26,000,000 Series D Round”
Multiverse Network Lands $2,400,000 New Funding Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=8adf7dbd-e8b5-49a3-bf6c-f54e7d3b32a3&Preview=1 Date 1/12/2009 Company Name Multiverse Network Mailing Address 1957 Landings Drive Mountain View, CA 94043 Company Description In July 2004, a team of Netscape veterans founded The Multiverse Network, Inc., a company aiming to become the world’s leading network of Massively Multiplayer Online Games (MMOGs) and 3D virtual worlds. Multiverse has … Continue reading “Multiverse Network Lands $2,400,000 New Funding Round”
FDA Panel Gives Blessing to First Drug Manufactured in Bioengineered Goats
The first drug ever manufactured in genetically-modified animals is likely coming soon to the U.S. market. A panel of expert advisers to the FDA said today that an experimental anti-clotting product developed by Framingham, MA-based GTC Biotherapeutics looks safe and effective enough to become a marketed product. The advisers essentially agreed with the conclusions reached … Continue reading “FDA Panel Gives Blessing to First Drug Manufactured in Bioengineered Goats”
Negotiation and Valuation
The words “negotiation” and “valuation” are well-known to any entrepreneur seeking funding. All too often, the entrepreneur’s lament in these downturn days seems to be ‘less of both.’ But there’s still a lot you can do, and a lot to learn. To that end, this session of The Capital Network urges, “Get your head out … Continue reading “Negotiation and Valuation”
Sequenom Makes Takeover Bid for MA-Based Exact Sciences, Targets Test for Colorectal Cancer
San Diego-based Sequenom is flexing some of its newfound muscle, by making a takeover bid for Marlborough, MA-based Exact Sciences while it is on the ropes. Sequenom (NASDAQ: [[ticker:SQNM]]) said today after markets closed it is offering $1.50 worth of its own stock in exchange for each share in Exact Sciences (NASDAQ: [[ticker:EXAS]]). That values … Continue reading “Sequenom Makes Takeover Bid for MA-Based Exact Sciences, Targets Test for Colorectal Cancer”
Northwest Layoff Update: Agilent, Attachmate, Intermec, and ON Semiconductor Slash Jobs
2009 is barely a week old, and already the Washington and Oregon tech industries have seen massive new layoffs in the struggling economy. A quick recap of the latest bloodletting (see the updated Xconomy Seattle layoff litany here): —Agilent Technologies (NYSE: [[ticker:A]]) cut 120 jobs at its plant in Liberty Lake, WA. The Santa Clara, … Continue reading “Northwest Layoff Update: Agilent, Attachmate, Intermec, and ON Semiconductor Slash Jobs”
Understanding Angel Investing
Angel investors—near and dear to Xconomy’s heart, since we are funded by them—can be the lifeblood of a startup. The Capital Network and Babson College are offering this interactive breakfast session to look at the promise of angel investing for both technology and life sciences startups. You’ll hear from investors and entrepreneurs about the current … Continue reading “Understanding Angel Investing”
Building a Fundable Team
Teamwork is key to running a successful business, but it’s also key to getting one off the ground. This roundtable discussion, put on by The Capital Network (TCN), promises to “provide investors’ perspectives on this dilemma, along with a discussion of other team-related topics, such as: What is a founder’s role on the management team? … Continue reading “Building a Fundable Team”
nTag Enters Bankruptcy
Boston’s nTag Interactive, a maker of wearable, wireless electronic badges handed out to attendees at business conferences so that they can exchange contact information and vote in interactive polls, filed for bankruptcy in Boston federal court on December 26, according to a report today in the Boston Business Journal. The seven-year-old company, an MIT Media … Continue reading “nTag Enters Bankruptcy”
ZeaChem Raises $34M for Oregon Biorefinery
ZeaChem, a Colorado-based clean fuel company, announced that they have raised $34 million from investors, led by Globespan Capital Partners and PrairieGold Venture Partners, to fund a green fuels refinery plant in Oregon. The company is developing technology to convert inedible plant matter into ethanol. ZeaChem announced last year that the plant will be built … Continue reading “ZeaChem Raises $34M for Oregon Biorefinery”
$35M+ for Kolltan Pharma
Yale University Medical School spinoff Kolltan Pharmaceuticals of New Haven, CT, announced that it has closed a Series A financing round worth over $35 million. Kolltan is developing cancer treatments based on the work of Yale’s Joseph Schlessinger, a cofounder and director of the startup and its chief scientist. The company also named Michael Schmertzler … Continue reading “$35M+ for Kolltan Pharma”
ON Semi to Close Oregon Factory
Phoenix, AZ-based ON Semiconductor, which operates a chip manufacturing plant in Gresham, OR, announced cost-reduction measures for 2009, including chip factory closures and layoffs of 10 percent of its worldwide staff, or about 1,500 jobs. The Portland Business Journal reports the Gresham plant will close for at least four weeks in the first half of … Continue reading “ON Semi to Close Oregon Factory”
StreamBase Closes $6M Series D
StreamBase Systems, a Lexington, MA, startup whose “complex event processing” software helps business and government customers act on real-time streaming data, has closed a $6.24 million Series D funding round, according to a regulatory filing cited by Private Equity Hub. Existing investors Accel Partners, Bessemer Venture Partners, Highland Capital Partners, and In-Q-Tel were in on … Continue reading “StreamBase Closes $6M Series D”
$6M for SimpleTuition
SimpleTuition, a Newton, MA-based startup that helps students and their parents search for the best student loans, has closed a $6 million Series C funding round, according to Private Equity Hub, which cited a regulatory filing. Atlas Venture, Flybridge Capital Partners and North Hill Ventures were among the backers.
For Your Listening Pleasure, a Battle of the Tech Bands MP3 Preview
It seems like a good day for some music, so we thought we’d give you a little preview of the tunes you’ll hear at our rapidly approaching second annual Battle of the Tech Bands. (Tickets are going fast—get yours now.) So behold MP3s from four of the six bands that are readying themselves to rock … Continue reading “For Your Listening Pleasure, a Battle of the Tech Bands MP3 Preview”
Alnylam, Cubist Will Cooperate on RNAi Drug for Lung Infections
Cambridge, MA-based Alnylam Pharmaceuticals and Lexington, MA-based Cubist Pharmaceuticals announced a major deal today in which Cubist will pay Alnylam $20 million immediately, and up to $82.5 million in milestone-based payments down the road, in return for the right to market RNAi-based drugs that Alnylam is developing to treat the deadly respiratory syncytial virus, or … Continue reading “Alnylam, Cubist Will Cooperate on RNAi Drug for Lung Infections”
AboutUs Raises $2.5M from Voyager Capital to Create Collaborative Guide to the Web
The Internet software firm AboutUs, based in Portland, OR, announced today it has raised $2.5 million in Series A funding from Seattle-based Voyager Capital. Voyager managing director Erik Benson has joined the company’s board. The deal closed the day before Thanksgiving. But the real story here is what AboutUs is trying to do, and why … Continue reading “AboutUs Raises $2.5M from Voyager Capital to Create Collaborative Guide to the Web”
Renewable Energy Business Network Happy Hour
REBN-East and the Boston University Energy Club are cosponsoring this month’s networking event, which has an “Inaugural Ball” theme (though black ties are “very, very optional”). More information here.
CalciMedica Finds a New Pathway to Fight Autoimmune Disorders
In 2005, Gonul Velicelebi was the vice president of research and drug discovery at TorreyPines Therapeutics (NASDAQ: [[ticker:TPTX]]) when scientists there determined that a molecule dubbed STIM1 played a crucial role in activating immune cells. To Velicelebi, STIM1 was like a key that helped open a hidden pathway that scientists had been seeking for 20 … Continue reading “CalciMedica Finds a New Pathway to Fight Autoimmune Disorders”
Ditch That USB Cable: The Coolest Apps for Sending Your Photos Around Wirelessly
For average consumers, the big complaint about digital photography has always been that it’s too hard to extract the pictures you’ve taken from your camera or phone so you can show them to the rest of the world. But the truth is there are so many ways to move, share, and display digital photos today … Continue reading “Ditch That USB Cable: The Coolest Apps for Sending Your Photos Around Wirelessly”
Tuning In to Global Health, Lisa Cohen Hopes to Amplify Seattle as Research Hotspot
The global health bug bit Lisa Cohen in 2001. She was a producer at KING5-TV in Seattle at the time, and along with anchorwoman Jean Enerson, she traveled through Africa for two weeks in a delegation with Patty Stonesifer, who was then running the Bill & Melinda Gates Foundation. “That trip inspired me to get … Continue reading “Tuning In to Global Health, Lisa Cohen Hopes to Amplify Seattle as Research Hotspot”
Breast Cancer’s Hidden Side Effect: ImpediMed Aims to Spot Slow-Emerging Lymph Disorder
One of the ugly side effects of breast cancer treatment is lymphedema. This condition can happen when surgeons cut out a tumor in the breast, then move on to the nearby lymph node in the armpit which is the first place tumors usually spread. If the surgeon carves out too much healthy tissue, then it’s … Continue reading “Breast Cancer’s Hidden Side Effect: ImpediMed Aims to Spot Slow-Emerging Lymph Disorder”
Archemix Partners with GSK, EMC Acquires SourceLabs Assets, Satori Raises $22M to Take on Alzheimer’s, & More Boston-Area Deals News
New England tech and life sciences firms have cut many a deal since last we rounded up. Here are some of the most interesting ones. —Cambridge, MA-based Semprus Biosciences, a spinoff from the famed Langer Lab at MIT, closed an $8 million Series A round of venture capital co-led by 5AM Venture and Pangaea Ventures. … Continue reading “Archemix Partners with GSK, EMC Acquires SourceLabs Assets, Satori Raises $22M to Take on Alzheimer’s, & More Boston-Area Deals News”
FirstDocs Inc Garners New Funding Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=ad1f86bd-c45d-4fda-b88c-e0fc1e5de338&Preview=1 Date 1/9/2009 Company Name FirstDocs Inc Mailing Address 200 Lowder Brook Drive Westwood , MA 02090 Company Description Founded by a close community of experts in business law, business process automation, knowledge process outsourcing, document analysis technologies, and data security, FirstDocs delivers a spectrum of legal document automation and acceleration services … Continue reading “FirstDocs Inc Garners New Funding Round”
Kolltan Pharmaceuticals Inc Receives $35,000,000 Series A Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=52d34df6-d01d-4788-ac80-e87accbaf87c&Preview=1 Date 1/9/2009 Company Name Kolltan Pharmaceuticals Inc Mailing Address 50 Rock Hill Road Woodbridge, CT 06525 Company Description Kolltan is a development-stage company advancing therapeutics that target well-defined and validated molecular mechanisms of disease in areas of critical clinical need. Website Undisclosed Transaction Type Venture Equity Transaction Amount $35,000,000 Transaction Round … Continue reading “Kolltan Pharmaceuticals Inc Receives $35,000,000 Series A Financing”
StreamBase Systems, Inc. Garners $6,000,000 Series D Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=68ee7ee4-9698-472b-be68-702f06c4b115&Preview=1 Date 1/9/2009 Company Name StreamBase Systems, Inc. Mailing Address 181 Spring Street Lexington, MA 02421 Company Description StreamBase Systems, a leader in the fast-growing complex event processing (CEP) market, has pioneered a remarkable new approach to processing and analyzing real-time streaming data. Website http://www.streambase.com Transaction Type Venture Equity Transaction Amount $6,000,000 … Continue reading “StreamBase Systems, Inc. Garners $6,000,000 Series D Round”
EverNote Corporation Obtains $4,500,000 New Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=b28676f9-3397-4d43-9a8b-cc4eaafd3756&Preview=1 Date 1/9/2009 Company Name EverNote Corporation Mailing Address 333 Evelyn Ave Mountain View, CA 94041 Company Description Evernote allows you to easily capture information in any environment using whatever device or platform you find most convenient, and makes this information accessible and searchable at anytime, from anywhere. Website http://www.evernote.com Transaction Type … Continue reading “EverNote Corporation Obtains $4,500,000 New Financing Round”
Intermec Lays Off 150
Everett, WA-based Intermec (NYSE: [[ticker:IN]]), a maker of radio frequency identification and mobile computing technologies, announced today it is reducing its global workforce by 7 percent, or about 150 full-time positions. The layoffs will be mostly in sales, general, and administrative areas, and are expected to save the company $14 million to $16 million a … Continue reading “Intermec Lays Off 150”
MOD Signs Movie Deals, Demos Downloads
Seattle-based MOD Systems, a digital-media delivery company, announced it has made deals to distribute videos from Warner Bros. and Paramount Digital Entertainment via downloads to SD (secure digital) cards in retail stores. MOD is demoing its video downloading technology at the Consumer Electronics Show in Las Vegas, together with Toshiba, which was one of the … Continue reading “MOD Signs Movie Deals, Demos Downloads”
Obesity Drug From Orexigen Helps Patients Lose Weight in Pivotal Study, Shares Fall Anyway
Updated: Jan. 8, 2:40 pm Pacific–see below: San Diego-based Orexigen Therapeutics said today that a final-stage clinical trial of its experimental obesity drug reached its main goal of helping patients lose weight. The problem is that meeting the goal may not be good enough. The study, the first of four trials examining the effects of … Continue reading “Obesity Drug From Orexigen Helps Patients Lose Weight in Pivotal Study, Shares Fall Anyway”
Near Record Pace of Private Equity Fund-Raising Hit Wall in September
Fund-raising by private equity firms slowed dramatically during the last three months of 2008, so much so, in fact, that an analysis shows an 18 percent overall decline among fund-raising by U.S. firms compared to 2007—all of it due to the Q4 meltdown. An analysis published today in the Dow Jones Private Equity Analyst newsletter … Continue reading “Near Record Pace of Private Equity Fund-Raising Hit Wall in September”
Washington Global Health Alliance: Vaccines Panel Discussion
Vaccines are a hot topic right now. Everyone, from Barack Obama to Jenny Garth, is talking about them. Seattle has a number of organizations dedicated to finding effective, safe vaccines that can be delivered to the developing world. The Washington Global Health Alliance is organizing a panel discussion to talk about what’s happening in the … Continue reading “Washington Global Health Alliance: Vaccines Panel Discussion”
Anadys Shares Boom on Hepatitis C Finding
Anadys Pharmaceuticals is skyrocketing today. Shares in the San Diego-based biotech shot up more than 80 percent after it reported its experimental hepatitis C drug was able to wipe out more than 99 percent of the virus from the blood in the first 72 hours. As we described today in an interview with CEO Steve … Continue reading “Anadys Shares Boom on Hepatitis C Finding”
A123 Asks for $1.8B in Federal Loans
Battery manufacturer A123 Systems of Watertown, MA, said yesterday that it has applied to the Department of Energy for $1.84 billion in federal loans under the department’s “green car” program. A123 says it wants to use the money to build a factory in southeastern Michigan that will manufacture lithium ion batteries for up to 5 … Continue reading “A123 Asks for $1.8B in Federal Loans”
Auspex Recruits Former SGX CEO
Former SGX Pharmaceuticals CEO Michael Grey was named as President and CEO of Auspex Pharmaceuticals, a Vista, CA, biotech founded in 2001 to develop next-generation medicines with improved performance. Auspex says it is pioneering the targeted application of deuterium, a safe and stable hydrogen isotope, to clinically validate drugs.
Play Hard Sports Scores $8M B Round
Play Hard Sports, the Foxborough, MA-based online gaming startup founded last April by former Turbine CEO Jeffrey Anderson, has closed an $8 million Series B round, according to a report today in Private Equity Hub. Play Hard is developing as-yet-unreleased multiplayer online games and an online fantasy sports network. Existing investor New Enterprise Associates of … Continue reading “Play Hard Sports Scores $8M B Round”
Polaris Antes Up for JibJab’s Third Round
When I got an “ElfYourself” e-greeting from my brother’s family before Christmas 2007, I remember being surprised that the free greeting, though sponsored by OfficeMax, was actually powered by JibJab, the Venice, CA, Web startup that made its name during the 2004 presidential campaign with its irreverent “This Land” video.” The switch from animated parodies … Continue reading “Polaris Antes Up for JibJab’s Third Round”
Press Ganey Buys PatientFlow
Boston-based PatientFlow Technology, which makes software that helps hospitals deal with backups in emergency rooms, ICUs, and other care settings, has been acquired by health care improvement consulting company Press Ganey of South Bend, IN, according to an announcement today. The companies did not disclose the terms of the deal, but said that the acquisition … Continue reading “Press Ganey Buys PatientFlow”
Not Everyone is Shrinking: Business Analytics Technology Fuels Expansion at ParAccel
At a time when many tech companies are reducing their payrolls, San Diego’s ParAccel just announced it’s moving into a new headquarters to accommodate its rapid growth. The venture-backed company, which develops business analytics technologies that accelerate database queries, says its workforce has doubled to 60 people over the past year. “It’s great to be … Continue reading “Not Everyone is Shrinking: Business Analytics Technology Fuels Expansion at ParAccel”
Kauffman Foundation Entrepreneur Fellowship Program Launches in Boston and Silicon Valley
Right now there’s really only one great educational institution for those who want to learn how to be an entrepreneur, and it’s called the School of Hard Knocks. That isn’t to say there aren’t some wonderful classes and programs in entrepreneurship at places like MIT, Stanford, and other universities. But those are typically short-lived courses … Continue reading “Kauffman Foundation Entrepreneur Fellowship Program Launches in Boston and Silicon Valley”
Microsoft Lands Verizon Deal, Loses Office Space, Battles Layoff Rumors—A Seattle Primer
For those of you suffering from Microsoft overload these past few days, I’ve put together a quick roundup of the most locally relevant news from the software giant. Most of it happened away from CEO Steve Ballmer’s keynote at the Consumer Electronics Show in Las Vegas last night. —Microsoft beat out Google and Yahoo to … Continue reading “Microsoft Lands Verizon Deal, Loses Office Space, Battles Layoff Rumors—A Seattle Primer”
Intel Writes Off $950M on Clearwire
Intel is taking a $950 million asset impairment charge from its investment in Kirkland, WA-based Clearwire, because of the declining value of Clearwire’s stock, according to this report in GigaOm. Clearwire, the brainchild of wireless pioneer Craig McCaw, is building a national WiMAX network to improve broadband wireless connections. Clearwire (NASDAQ: [[ticker:CLWR]]) stock closed yesterday … Continue reading “Intel Writes Off $950M on Clearwire”
Geocade Puts the Local Back into Mobile Gaming
Back in the days when you could play video games only at arcades or on home consoles, the game leader boards—showing the top scores—were, by definition, local. You had a finite group of competitors, and if you had enough time and enough quarters, you had a shot at getting on the board. But with the … Continue reading “Geocade Puts the Local Back into Mobile Gaming”
Clean Power Research Looks to Tap Seattle Software Developers for Solar Projects
On a grey winter day, it might not seem like Seattle has much to contribute to the solar power industry. But cleantech and IT are converging in the Northwest these days. And what we lack in sunshine we make up for in software developers, according to Jeff Ressler, head of the software division of Clean … Continue reading “Clean Power Research Looks to Tap Seattle Software Developers for Solar Projects”
Huya Bioscience Taps Into China For Novel Drug Candidates
If there was an “ah-ha!” moment for Huya Bioscience International, it occurred in 2004, when founder Mireille Gingras was working as a consultant for mid-size biotech companies. “I was looking for opportunities for in-licensing compounds in China when I found a very interesting drug for Alzheimer’s,” Gingras recalls. The potential for the Chinese drug in … Continue reading “Huya Bioscience Taps Into China For Novel Drug Candidates”
Hepatitis C Drug From Anadys Shows Quick Virus-Killing Punch
An early peek at data from Anadys Pharmaceuticals (NASDAQ: [[ticker:ANDS]]) suggests the company may have a promising new drug in the works for hepatitis C. The San Diego-based biotech is announcing results today from the first eight patients with the chronic liver infection, which shows its drug has more viral killing pop in the first … Continue reading “Hepatitis C Drug From Anadys Shows Quick Virus-Killing Punch”
Spark Capital Heads List of Boston VCs Most Exposed to Web 2.0 Tailspin
Updated, Jan. 8, 8:40 am—see below: Everyone knows that when it comes to Internet investing, New England VCs are low flyers compared to their high-flying Silicon Valley counterparts—and a lot of folks around here are always asking why Boston investors can’t be more like the Web venture gurus out west. Well, turns out New England … Continue reading “Spark Capital Heads List of Boston VCs Most Exposed to Web 2.0 Tailspin”
Stopping Alzheimer’s Cold: Satori Raises $22M to Pursue Its Vision
Satori Pharmaceuticals has a dream of being the world’s first company to stop the progressive loss of memory and cognition caused by Alzheimer’s disease. Today, Cambridge, MA-based Satori will announce it has raised enough money to put its vision to the test, with $22 million in venture capital to develop drugs that halt the disease … Continue reading “Stopping Alzheimer’s Cold: Satori Raises $22M to Pursue Its Vision”