Another year is coming to an end, and for us at Xconomy it has been an action-packed 12 months. Not only has our flagship Boston site grown beyond our expectations, we have also launched Xconomy Seattle and Xconomy San Diego, building our own small, but rapidly growing, network. We’d like to take this occasion to … Continue reading “Wishing You A Healthy and Happy Holiday Season; Posting Will Be Light”
AVI Gets Green Light for Ebola Trial
AVI Biopharma, a Portland, OR-based drug developer, said it has “verbal clearance” from the FDA to start clinical trials against the deadly Ebola and Marburg viruses. AVI expects to get a formal written go-ahead from the FDA in early 2009, the company said. Shares of the company (NASDAQ: [[ticker:AVII]]) shot up 63 percent to 80 … Continue reading “AVI Gets Green Light for Ebola Trial”
CellCyte Genetics Shuts Down
CellCyte Genetics, the Bothell, WA-based stem cell research company, has shut down. The company said it had a little more than $5,700 in cash at the end of September, according to its quarterly filing with the Securities and Exchange Commission, as reported by The Seattle Times. “We presently do not have sufficient cash to fund … Continue reading “CellCyte Genetics Shuts Down”
MBC Chief Fined $10K
The Massachusetts Ethics Commission has given a $10,000 fine to Bob Coughlin, president of the Massachusetts Biotechnology Council, because the former Bay State economic development official took part in meetings about state policy affecting the biotech industry while he was “secretly” a candidate for his current MBC post, the Boston Globe reported this morning. The … Continue reading “MBC Chief Fined $10K”
Take an Innovation Tour of India
The world might not be completely flat, but a bulldozer has been working overtime on leveling the global innovation playing field—and many previously emerging nations are establishing themselves as serious competitors to the U.S. India is near the top of the list. Previously known in the technology world as a place for cheap outsourcing of … Continue reading “Take an Innovation Tour of India”
Amazon’s Top 10 Best-Selling Gadgets, and a Kindle Update
In the shopping spirit of the season, I thought it might be useful to give a quick update on what the year’s best-selling tech gadgets have been on Amazon.com, and how Amazon’s own foray into gadgets is going. Probably too late to help with your own shopping list, but nevertheless here are a couple notable … Continue reading “Amazon’s Top 10 Best-Selling Gadgets, and a Kindle Update”
Where Tech Coast Angels Tread, And Why
Jack Florio fits the casting profile of the kind of guy Hollywood might see as an angel investor. He has 30 years experience in the pharmaceutical business, much of it in management jobs at pharma giant Eli Lilly. He’s got the experience to offer advice to a younger entrepreneur, and the Rolodex to make key … Continue reading “Where Tech Coast Angels Tread, And Why”
Biotech Vets Herd Cats at the UW, Hutch, and Children’s For “Translational Research”
Some of the stories Lynn Rose told me the other week made me laugh out loud, and want to cry in mercy. One story was about the academic researcher who ran a single experiment in an animal species that panned out. This scientist, who shall remain nameless, figured it was time to call up the … Continue reading “Biotech Vets Herd Cats at the UW, Hutch, and Children’s For “Translational Research””
New RNAi Drugs, Major Cutbacks at Targanta, Big Partnerships for Arqule and Archemix, & More Boston-Area Life Sciences News
There was quite a bit of news this week relating to RNA-interference drugs, and to FDA approval (or non-approval, as the case may be) of drugs under development by local biotechs. Without further ado: —It was sports week for Ryan. First, he interviewed biotech hedge fund founder Rich Aldrich, part of the group that owns … Continue reading “New RNAi Drugs, Major Cutbacks at Targanta, Big Partnerships for Arqule and Archemix, & More Boston-Area Life Sciences News”
Volcano Corporation Acquires Axsun Technologies, Inc. for $21,500,000
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=6d535227-32de-44a9-9959-52ef3fdf487a&Preview=1 Date 12/24/2008 Company Name Axsun Technologies, Inc. Mailing Address 1 Fortune Drive Billerica, MA 01821 Company Description With an experienced, multi-disciplined team of engineering, manufacturing, and marketing professionals, Axsun Technologies, founded in 1999, is developing a bold new approach to the design and manufacture of miniaturized optical micro-instruments for a variety … Continue reading “Volcano Corporation Acquires Axsun Technologies, Inc. for $21,500,000”
Genomatica Forms Council to Guide Industrial Expansion
San Diego’s Genomatica is forming an engineering advisory council to help the company as it moves to expand to large-scale chemical production. Privately-held Genomatica has shown it can use genetically modified bacteria to make 1,4-butanediol, or BDO, a basic polymer used to make everything from skateboard wheels to spandex clothing. Genomatica named Page Shirtum, a … Continue reading “Genomatica Forms Council to Guide Industrial Expansion”
Jive Scores Another Customer
Portland, OR-based Jive Software, which makes social-networking and communication tools for businesses, announced it has signed up Bewag, the Austrian electric utility, as a customer. Since laying off a third of its staff in October, Jive has signed a number of new customers and partners, including United Business Media, Portland Energy Conservation, and Premiere Global … Continue reading “Jive Scores Another Customer”
Alliance of Angels: 10-Minute Pitch Clinic
Raising capital from angel investors can be a challenge, particularly given just 10 minutes to distill your entire business plan into a compelling presentation. What information is critical? How much detail is enough, or too much? What do angel investors consider when evaluating an investment opportunity? To learn more about how to register for this … Continue reading “Alliance of Angels: 10-Minute Pitch Clinic”
Fund It! Raising Money through the Entire Business Life Cycle
The current environment for raising capital is tough, to say the least. But the money is there—and the folks at this meeting of the WPI Venture Forum want to help you find it. As the event description reads: “Where can entrepreneurs seek funding? Can start-ups raise money without superstar status? Three financing experts will answer … Continue reading “Fund It! Raising Money through the Entire Business Life Cycle”
Three Keys to Beat the Recession
There are seven or eight keys to succeeding in business, but there are only three you need to beat the recession—and you don’t need to be a locksmith to use them. You just have to attend this meeting of the New England Womens Business Network. The event’s full title is: “Three Keys to Beat the … Continue reading “Three Keys to Beat the Recession”
Term Sheets and Valuations
It’s all about closing the financing—and the valuation. The New Year’s first meeting of the Boston Entrepreneurs’ Network will get down to the nitty-gritty of term sheets and valuations (neither of which have been looking great for entrepreneurs in today’s slug-like economy), examining such issues as how valuations are set, what should be part of … Continue reading “Term Sheets and Valuations”
Qualcomm Strikes Deal With China’s Biggest Cell Phone Maker
San Diego wireless giant Qualcomm (NASDAQ: [[ticker:QCOM]]) has reached a licensing agreement with Beijing Tianyu Communications Equipment Co., China’s biggest cell phone maker. Under the deal, Tianyu has obtained worldwide rights to develop, manufacture and sell Qualcomm’s proprietary CDMA2000 and WCDMA subscriber units and modem cards. Qualcomm said Tianyu will pay royalties at its standard … Continue reading “Qualcomm Strikes Deal With China’s Biggest Cell Phone Maker”
Google to Host Startup Weekend in Seattle
Want 54 hours to start a tech company? You got it. In a few weeks, Google will be hosting a talented group of entrepreneurs from the startup community, giving them time and space over a weekend, and adding stimulating discussions, activities, and, yes, food. With that potent mix at work, local organizers want to see … Continue reading “Google to Host Startup Weekend in Seattle”
A Call For Good Data Stewardship Before The Digital Deluge
Everybody knows that America’s crumbling roads, bridges, power plants, and other physical infrastructure won’t make it into the future without costly maintenance, retrofitting, and construction. It’s expensive but necessary: Our civil infrastructure provides the foundation for modern living, and it’s hard to get anywhere without it. The same is true for our digital world. Information … Continue reading “A Call For Good Data Stewardship Before The Digital Deluge”
Imaging Agent for Early Detection of Heart Disease, From Molecular Insight, Reaches Goal
Cambridge, MA-based Molecular Insight Pharmaceuticals said today that its experimental imaging agent, when combined with standard diagnostic tests, reached its goal in a clinical trial of detecting early signs of cardiac ischemia—or reduced blood flow to the heart–which can lead to a heart attack or stroke. Molecular Insight (NASDAQ: [[ticker:MIPI]]) said the Phase II study … Continue reading “Imaging Agent for Early Detection of Heart Disease, From Molecular Insight, Reaches Goal”
SAIC Says Greek Government Has Finally Accepted $322 Million Athens Olympics Project
It might have won a gold medal for longest-running contract dispute. Finally, though, it’s over—or so it seems. San Diego defense contractor SAIC said yesterday the Greek government has formally accepted the sophisticated “command and control” security network the company installed for the 2004 Summer Olympic Games. The company also known as Science Applications International … Continue reading “SAIC Says Greek Government Has Finally Accepted $322 Million Athens Olympics Project”
Archemix Secures Partnership with Glaxo to Develop Drugs for Inflammatory Diseases
(Update: The first paragraph includes information that seven drugs are subject to the partnership, and the final paragraph includes comment from Archemix about this deal’s impact on its proposed merger.) Archemix scored one of the biggest biotech deals of the year just in time for Christmas. The privately held Cambridge, MA-based drug developer secured a … Continue reading “Archemix Secures Partnership with Glaxo to Develop Drugs for Inflammatory Diseases”
Alnylam Pushes First RNAi Drug That Circulates Through Body Into Human Test
Alnylam Pharmaceuticals, one of the leaders in developing drugs through RNA interference, has achieved another big first for the emerging field. The Cambridge, MA-based drug developer (NASDAQ: [[ticker:ALNY]]) is announcing today that it has filed an application with the FDA to start the first clinical trial of an RNAi drug that can circulate throughout the … Continue reading “Alnylam Pushes First RNAi Drug That Circulates Through Body Into Human Test”
Outsourced Chemistry Shop, BioBlocks, Sees Growth in San Diego and Hungary
Peter Pallai has an unusual take on outsourcing. In his view, it might be the way to bring some stability to the volatile world of biotechnology. Pallai, a Hungarian-born medicinal chemist, is carrying out this vision through a contract-chemistry shop in San Diego called BioBlocks. Pallai started this outfit in 2002 after spending more than … Continue reading “Outsourced Chemistry Shop, BioBlocks, Sees Growth in San Diego and Hungary”
3Tier Group Gets $10M, Socialmedian Sold for $7.5M, Gates Gives $7M to IDRI, & More Seattle-Area Deals News
Heading into the holidays, the deals have slowed down a bit. But there was still a trickle of activity over the past week in biotech, renewable energy, and software. —Seattle-based Jobster’s co-founder and ex-CEO, Jason Goldberg, sold his New York startup, Socialmedian, to Hamburg, Germany-based Xing for $7.5 million. Socialmedian’s news-filtering service fits well with … Continue reading “3Tier Group Gets $10M, Socialmedian Sold for $7.5M, Gates Gives $7M to IDRI, & More Seattle-Area Deals News”
Sempra Energy Beams Over Completion of Solar Plant
California’s major utilities have been scrambling to meet a state mandate that requires using renewable energy sources to generate 20 percent of the electricity they supply by 2010. So San Diego’s Sempra Energy (NYSE: [[ticker:SRE]]) had good reason to bask yesterday as it announced its Sempra Generation subsidiary has completed the company’s first solar energy … Continue reading “Sempra Energy Beams Over Completion of Solar Plant”
New Privacy Regulations A Burden for Most Massachusetts Companies, A Blessing for Others
If not for a reprieve granted in mid-November by the Massachusetts Office of Consumer Affairs and Business Regulation (OCABR), most businesses in the Bay State would be spending these last two weeks before the New Year rushing to meet state mandates requiring the encryption of personal data about Massachusetts residents stored on laptops or transmitted … Continue reading “New Privacy Regulations A Burden for Most Massachusetts Companies, A Blessing for Others”
KaloBios Gets $12M Genzyme, Baxter
KaloBios Pharmaceuticals, a South San Francisco-based biotech company, said today it has raised $12 million in the second closing of a $32 million Series D round of venture financing. Baxter International, Genzyme Ventures, and Mitsubishi UFJ Capital were among the investors in the round. The company is developing a human antibody fragment to fight bacterial … Continue reading “KaloBios Gets $12M Genzyme, Baxter”
Pelago Partners With Maponics
Seattle-based Pelago, maker of the Whrrl mobile-networking application, announced it has partnered with Norwich, VT-based Maponics to provide the location-aware service to customers in more than 50,000 neighborhoods in 2,000 cities across the U.S. and Canada. Financial terms of the deal were not disclosed.
Epix Wins FDA Approval of Vasovist
Epix Pharmaceuticals, a Lexington, MA-based biotech company, said today it has received FDA clearance to market gadofosveset trisodium (Vasovist) as a new contrast agent to help doctors interpret magnetic resonance scans of narrowing arteries. Epix originally asked for FDA approval in December 2003. Shares of the company (NASDAQ: [[ticker:EPIX]]) more than doubled on the news, … Continue reading “Epix Wins FDA Approval of Vasovist”
Sports Web Site Wins Venture Group’s PitchFest
The San Diego Venture Group today named TheSportsTV.com as the winner of its ninth annual “PitchFest” business plan competition. The startup, which was awarded $20,000, was among three finalists that made presentations to 280 people who attended the venture group’s annual meeting on Dec. 3. TheSportsTV.com is a Web site that enables amateur athletes to … Continue reading “Sports Web Site Wins Venture Group’s PitchFest”
SAIC To Support Anti-Bomb Training
The Navy’s Space and Naval Warfare Systems Center in Charleston, SC, has awarded a $17 million task order to SAIC, the San Diego defense contractor, to support a training program for countering IEDs, or improvised explosive devices. The program trains Marine Corps engineers to defuse roadside bombs and other booby-traps, and in using electronic warfare … Continue reading “SAIC To Support Anti-Bomb Training”
Sermo, Taking a Page from Google, Creates Flu Tracker
Looks like Cambridge, MA-based startup Sermo is trying to one-up Google, at least when it comes to tracking flu outbreaks. Back in November, Google researchers revealed that for the last year or more they’ve been keeping track whenever users enter search terms related to common flu symptoms. Working with flu experts at the Centers for … Continue reading “Sermo, Taking a Page from Google, Creates Flu Tracker”
Google’s Kirkland Site to Shrink, Microsoft Layoffs May Be Looming
Since my tech-savvy colleague Greg is off today, I’m scanning the web for the local tech news. Be warned, this isn’t good for holiday cheer. Here goes: —Google is giving up some of its office space at its new campus in Kirkland, according to this report by Brier Dudley in The Seattle Times. The Internet … Continue reading “Google’s Kirkland Site to Shrink, Microsoft Layoffs May Be Looming”
Life Technologies Buys VisiGen for $20M
Life Technologies, the Carlsbad, CA-based maker of lab supplies created by the merger of Invitrogen and Applied Biosystems, has acquired Houston-based VisiGen Biotechnologies for about $20 million. VisiGen, a spin-off from the University of Houston, is working on a new process to sequence individual genomes for as little as $1,000, according to its website.
Y Combinator Startup Posterous Raises Round, Launches Group Blog Feature
This past summer, I had a great time at the Y Combinator Demo Day, schmoozing with guests and watching some altogether fascinating demos from the incubator’s latest batch of startup companies. One of those that made my list of favorite demos was Posterous, which today announced a $750,000 funding round from a group of high … Continue reading “Y Combinator Startup Posterous Raises Round, Launches Group Blog Feature”
Abbott Buys Isis’ Diagnostics Subsidiary, Ligand Binds With GlaxoSmithKline, Ardea Raises $30M & More San Diego BizTech News
It was the week before Christmas, and the deals were flying. Could San Diego’s economy be downturn defying? Heed the tech news and be of good cheer! We wish you an Xconomy Xmas and Xponential New Year! —The big deal of the week came Wednesday, when Abbott Labs (NYSE: [[ticker:ABT]]) exercised its option to acquire … Continue reading “Abbott Buys Isis’ Diagnostics Subsidiary, Ligand Binds With GlaxoSmithKline, Ardea Raises $30M & More San Diego BizTech News”
Biotech “Walks With Light,” But If We Don’t Start Explaining it Better, We’re “Cuckoo”
For the last 17 years my office at Targeted Genetics looked out closely onto a pretty major intersection, busy with cars and pedestrians going to and from downtown Seattle. For years the pedestrian crossing signs stated “Walk with Light.” Maybe I’m a romantic fool, but I always thought of that phrase, “walk with light,” as … Continue reading “Biotech “Walks With Light,” But If We Don’t Start Explaining it Better, We’re “Cuckoo””
Seattle Docs, Via Qliance, Aim to Revolutionize Health Care By Freezing Out Insurance
One of the simplest—and most disruptive—business ideas I’ve heard for U.S. health care reform is gaining momentum in downtown Seattle. It’s with a small group of primary care doctors at a company called Qliance, who don’t accept health insurance payments of any kind. I made a beeline over to the Qliance office after hearing about … Continue reading “Seattle Docs, Via Qliance, Aim to Revolutionize Health Care By Freezing Out Insurance”
The Greater Boston Mobile Technology Cluster
Though we in Boston can’t claim to host a major handset maker like Nokia or Motorola or a major wireless carrier like Verizon or AT&T, the New England area is nonetheless one of the world capitals of the mobile business. As Xconomy’s lead infotech writer for the East Coast, I spend at least a quarter … Continue reading “The Greater Boston Mobile Technology Cluster”
Quidel Aims for a Piece of the Colorectal Cancer Screening Market
No matter how many times Katie Couric reminds folks that detecting colon cancer early can be a lifesaver, most people are pretty squeamish about the tests involved—not only the invasive ones like colonoscopy but even the less-invasive ones like those that look for traces of blood in the stool. So I was intrigued to hear … Continue reading “Quidel Aims for a Piece of the Colorectal Cancer Screening Market”
Cepheid, Maker of Test to Spot MRSA Staph Infections, Builds Growing Presence in Washington
Lots of innovation is happening inside nondescript office buildings in Bothell, but this activity gets little attention because it takes place at branch operations of companies headquartered elsewhere. Cepheid, the maker of molecular diagnostic tools based in Sunnyvale, CA, is one of those companies. So I jumped at an opportunity to interview CEO John Bishop … Continue reading “Cepheid, Maker of Test to Spot MRSA Staph Infections, Builds Growing Presence in Washington”
India’s Innovation Front Lines, Part 5: The Emerging Entrepreneurial Class
Mumbai Friday December 19, 2008—The TiE Entrepreneurial Summit in Bangalore was a huge success–the sponsoring hotel was barely able to manage the large crowd. What struck me was how young the crowd was and how aggressive the entrepreneurs were in approaching anyone who looked like they had money to invest. Speaker after speaker lauded the … Continue reading “India’s Innovation Front Lines, Part 5: The Emerging Entrepreneurial Class”
MIT Spinout Semprus BioSciences Looks for Strong Bonds with Medical-Device Companies After Closing $8M Series A
David Lucchino doesn’t like to use the word “coating” to describe the technology under development at his Cambridge, MA-based startup, Semprus Biosciences. Semprus, which was spun out of famous MIT inventor Bob Langer’s lab in 2007, is in the early stages of providing surfaces for medical devices engineered to fight bugs, prevent unhealthy blood clots, … Continue reading “MIT Spinout Semprus BioSciences Looks for Strong Bonds with Medical-Device Companies After Closing $8M Series A”
JAZD Markets Obtains $8,000,000 Series A Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=5aa04a03-4ab5-4d85-b69d-e7a2984da63a&Preview=1 Date 12/22/2008 Company Name JAZD Markets Mailing Address 3 Dundee Park Andover, MA 01810 Company Description As the leading on-line directory driven marketing solution for B2B, Jaz’d! is changing the way on-line marketing works by aligning buyers and sellers together in highly informative, measurable and easy-to-navigate environments. Jaz’d! partners with leading … Continue reading “JAZD Markets Obtains $8,000,000 Series A Financing Round”
SOLARFLARE Communications, Inc. Secures $44,000,000 New Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=ef91a221-4330-475f-959c-5475b6bcfa95&Preview=1 Date 12/22/2008 Company Name SOLARFLARE Communications, Inc. Mailing Address 9501 Jeronimo Road Irvine, CA 92618 Company Description Solarflare Communications Inc. is a leading silicon vendor delivering Ethernet products that enable the rapid adoption of 10 Gigabit for data center and enterprise networks. Our products include 10GBASE-T PHYs and high-performance Ethernet controllers. … Continue reading “SOLARFLARE Communications, Inc. Secures $44,000,000 New Financing Round”
ONStor Receives New Funding
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=b96368a9-3a42-40ad-923f-1c4cddc4e13d&Preview=1 Date 12/22/2008 Company Name ONStor Mailing Address 254 East Hacienda Ave. Campbell, CA 95008 Company Description ONStor NAS Gateways combine network infrastructure-grade hardware and purpose-built software to consolidate enterprise-wide file services on multi-vendor storage. Website http://www.onstor.com Transaction Type Venture Equity Transaction Amount Undisclosed Transaction Round Undisclosed Proceeds Purposes The additional round … Continue reading “ONStor Receives New Funding”
Provigent Lands $10,000,000 Series E Funding Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=3d5985fb-996d-471f-b01a-3c46007a9569&Preview=1 Date 12/22/2008 Company Name Provigent Mailing Address 3333 Bowers Ave. Santa Clara, CA 95054-2913 Company Description Provigent is a fabless semiconductor company aiming to become the leading supplier of SoC solutions for the broadband wireless transmission industry. Website http://www.provigent.com Transaction Type Venture Equity Transaction Amount $10,000,000 Transaction Round Series E Proceeds … Continue reading “Provigent Lands $10,000,000 Series E Funding Round”
VistaGen Therapeutics Receives $1,000,000 New Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=d5f6013b-5f59-4d74-8bab-6f0b722abfe1&Preview=1 Date 12/22/2008 Company Name VistaGen Therapeutics Mailing Address 384 Oyster Point Blvd South San Francisco, CA 94080 Company Description VistaGen Therapeutics is a biopharmaceutical company pioneering the use of embryonic stem cells (ES cells) for drug discovery and development and predictive toxicology. Website http://www.vistagen.com Transaction Type Venture Equity Transaction Amount $1,000,000 … Continue reading “VistaGen Therapeutics Receives $1,000,000 New Financing”
Posterous Garners $750,000 New Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=fc9dff2b-0a63-477a-87f2-e05134e40458&Preview=1 Date 12/22/2008 Company Name Posterous Mailing Address 555 4th St San Francisco, CA 94107 Company Description Posterous is the dead simple way to put anything online using email. We launched in July 2008 and we’ve been steadily growing and adding features. Website http://www.posterous.com Transaction Type Venture Equity Transaction Amount $750,000 Transaction … Continue reading “Posterous Garners $750,000 New Financing Round”