Updated Dec. 3 with comments from Ed Lazowska (see below): Seattle-based Verdiem, a cleantech-meets-computing firm, announced its new chief executive today. He is Jeremy Jaech, the co-founder of software powerhouses Aldus and Visio, a University of Washington alum, and a certified tech-entrepreneur giant of the Northwest. I’ve had my eye on Verdiem as an interesting … Continue reading “Verdiem’s New CEO, Jeremy Jaech, Sees Big Opportunity in IT Energy Savings”
Glaxo Promotes Sirtris’ Christoph Westphal to Drug Discovery Leadership Role
Christoph Westphal is not only sticking around at Cambridge, MA-based Sirtris after the biotech company was acquired by drug giant GlaxoSmithKline, he’s just accepted a promotion. Westphal, one of the region’s top life sciences entrepreneurs, agreed to take on a new responsibility as senior vice president of Glaxo’s Center of Excellence for External Drug Discovery, … Continue reading “Glaxo Promotes Sirtris’ Christoph Westphal to Drug Discovery Leadership Role”
Amazon Unveils iPhone Photo App
Seattle-based Amazon (NASDAQ: [[ticker:AMZN]]) today announced a new application for Apple’s iPhone and iPod touch. The most interesting feature lets you take a picture of a product, which Amazon then tries to match with similar products available for purchase online. The broader application lets users browse for products from Amazon and other retailers like Target … Continue reading “Amazon Unveils iPhone Photo App”
Japan’s KDDI Deploying Next-Generation LTE Wireless, a Positive For Qualcomm
Japan’s second-largest cellular operator, KDDI, is adopting the next-generation, Long-Term Evolution, or LTE, wireless standard founded on San Diego-based Qualcomm (NASDAQ: [[ticker:QCOM]]) technology. KDDI is deploying LTE equpment from Hitachi and Nortel that will provide an overlay to its existing CDMA mobile network.
Videré Acquired by Providea
Quincy, MA-based Videré Conferencing, which outfits companies with high-definition videoconferencing facilities, announced today that it has been acquired by a West Coast competitor, Camarillo, CA-based Providea Conferencing. The terms of the deal were not disclosed. Back in July, Providea received a venture infusion from Boston-based Westview Capital Partners.
PerkinElmer Buys Gas Analyzer Firm
PerkinElmer (NYSE:[[ticker:PKI]]), a Waltham, MA-based provider of products and services in the health-care, analytical sciences and photonics industries, announced it has acquired gas analyzer supplier Arnel, headquartered in Parlin, NJ. Terms of the deal weren’t disclosed. The buyout of Arnel, which has served as a supplier to PerkinElmer for 18 years, is expected to enhance … Continue reading “PerkinElmer Buys Gas Analyzer Firm”
Spiration Promotes Finance Chief Greg Sessler to COO
Spiration, the Redmond, WA-based medical device company, said today it has promoted Greg Sessler from chief financial officer to chief operating officer. Sessler takes on the new responsibility two months after Spiration won FDA clearance to sell its first product—a tiny valve that doctors insert to block off air to damaged parts of the lung. … Continue reading “Spiration Promotes Finance Chief Greg Sessler to COO”
FDA Gives Fast-Track Status to Anadys’ Hepatitis C Drug Candidate
Shares of San Diego’s Anadys Pharmaceuticals (NASDAQ: [[ticker:ANDS]]) gave up some of the boost they got Tuesday after the company announced the Food and Drug Administration put the biotech’s drug candidate for hepatitis C on fast-track review. Anadys shares fell in early trading today, after gaining almost 20 percent Tuesday. Shares have traded between $1.36 … Continue reading “FDA Gives Fast-Track Status to Anadys’ Hepatitis C Drug Candidate”
Harvard Endowment Down $8B, Further Losses Expected
Harvard University’s endowment, the largest in higher education and historically a major investor in venture capital funds, has dropped a scary 22 percent, or $8 billion, from its $36.9 billion value on June 30, the Harvard Crimson student newspaper reports. The impact of the big decline is already being felt. The Crimson reports that university … Continue reading “Harvard Endowment Down $8B, Further Losses Expected”
Running Near Empty, Overland Storage May Be a Sign of The Times
I thought it was unusual when San Diego’s Overland Storage said Friday it had closed on a $9 million receivable financing agreement. All it means is that a finance company has agreed to lend Overland immediate cash for its customers’ IOUs—like one of those “payday loan” outfits. So I arranged to talk with Vern LoForti, … Continue reading “Running Near Empty, Overland Storage May Be a Sign of The Times”
Prostate Cancer Drug from OncoGenex, Isis Prolongs Lives; OncoGenex Shares Soar
Some eye-opening news for prostate cancer patients crossed the wire this morning, sending shares of OncoGenex Pharmaceuticals rocketing up 80 percent. An experimental drug from OncoGenex and Isis Pharmaceuticals, used in combination with standard treatments, helped men with prostate cancer live a median time of 10.6 months longer than if they took the usual chemo … Continue reading “Prostate Cancer Drug from OncoGenex, Isis Prolongs Lives; OncoGenex Shares Soar”
Artes Files for Bankruptcy After Drop in Facial Filler Sales
Artes Medical, a maker of an injectable filler to smooth facial wrinkles, has filed for Chapter 7 bankruptcy, citing reduced consumer spending on its cosmetic treatment due to the poor economy. The San Diego-based medical technology firm said in an earlier SEC filing on November 21 that a liquidation of its assets and bankruptcy were … Continue reading “Artes Files for Bankruptcy After Drop in Facial Filler Sales”
Polaris Co-Leads Infinite Power Solutions Series B Round
Waltham, MA-based Polaris Venture Partners and D.E. Shaw Ventures of New York are the lead investors in a $13 million Series B investment round for Infinite Power Solutions of Littleton, CO, the startup announced today. Existing investors Core Capital Partners, Applied Ventures, and In-Q-Tel also joined the round, which brings the company’s total venture pot … Continue reading “Polaris Co-Leads Infinite Power Solutions Series B Round”
An Energetic Thank You to Our Energy Innovation Forum Speakers and Sponsors
The British consulate on Memorial Drive was hopping last night as roughly 125 people gathered for our Energy Innovation forum, which featured a great panel led by Xconomist Bill Aulet of the MIT Entrepreneurship Center—and an incredible chat between Paul “Charlie Rose” Maeder of Highland Capital Partners and energy-efficiency guru Amory Lovins, co-founder and chairman … Continue reading “An Energetic Thank You to Our Energy Innovation Forum Speakers and Sponsors”
How To Spot a Breakthrough: Tips from Early Amazon Investor Nick Hanauer
Last night, I attended an inspiring talk by Nick Hanauer of Seattle-based Second Avenue Partners. The venue was Seattle University, and the topic was “breakthrough thinking and ideas”—what they are, how to find them, and which companies have developed (and will develop) them. The event was organized by the Northwest Entrepreneur Network. Hanauer knows a … Continue reading “How To Spot a Breakthrough: Tips from Early Amazon Investor Nick Hanauer”
The Pros (and Not Many Cons) of Merck’s HPV Vaccine, According to UW’s Laura Koutsky
Everyone has human papillomavirus (HPV) crawling all over our skin. This usually doesn’t cause us any harm, but in about 11,000 cases a year in the U.S., sexual activity leads to an infection that causes cervical cancer, which kills about 3,800 women a year. This basic fact is at the root of a revolution in … Continue reading “The Pros (and Not Many Cons) of Merck’s HPV Vaccine, According to UW’s Laura Koutsky”
Speech Recognition on the iPhone, Via Vlingo
Back in June, Cambridge, MA speech-recognition startup Vlingo rolled out software that lets Blackberry owners run their devices using voice commands instead of their thumbs—opening applications, dictating e-mails, entering terms into Web search engines, and the like. CEO Dave Grannan said at the time that Vlingo engineers were working on similar software for other devices, … Continue reading “Speech Recognition on the iPhone, Via Vlingo”
Meritage Pharma Aims to Develop Drug to Reduce Swelling in the Food Pipe
Intense allergic reactions to things like bee stings or peanuts can be life-threatening because some people can suffocate from massive inflammation in the windpipe. But it’s a little-known fact that the same kind of allergic reaction can also cause swelling and narrowing in the food pipe (aka the esophagus). Sometimes it’s so severe that food … Continue reading “Meritage Pharma Aims to Develop Drug to Reduce Swelling in the Food Pipe”
The Obama Presidency: Some Needed Changes Likely Coming in the Life Sciences
For months and months, we heard the mantra of “Obama: the change we need; change we can believe in.” The election is finally over. The people have spoken. Now that Senator Barack Obama is president-elect, it is my hope that certain “changes” supported by the president-elect will help jump-start two areas of focus in the … Continue reading “The Obama Presidency: Some Needed Changes Likely Coming in the Life Sciences”
Alkermes Regains Vivitrol Rights, Biogen Idec Heads for the Burbs, A Peek at Partners Innovation Fund’s Portfolio, & More Boston-Area Life Sciences News
Several of the Boston area’s public life sciences companies were making news this week. But first… —Ryan delved into the strategy and portfolio of Partners Innovation Fund, which was launched last year by Massachusetts General and Brigham and Women’s hospitals to invest exclusively in startups with science from the two Harvard-affiliated hospitals. Among the startups … Continue reading “Alkermes Regains Vivitrol Rights, Biogen Idec Heads for the Burbs, A Peek at Partners Innovation Fund’s Portfolio, & More Boston-Area Life Sciences News”
Globant Garners $13,000,000 New Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=af118e21-3837-43db-85ff-2b8f4db5471f&Preview=1 Date 12/3/2008 Company Name Globant Mailing Address 34 Hayden Rowe Street Hopkinton, MA 01748 Company Description Globant is the Latin American leader in Software Product Development and Maintenance outsourcing, enabling a faster time to market at the lowest total cost. At Globant, our main strategy is to proactively invest in initiatives … Continue reading “Globant Garners $13,000,000 New Financing Round”
Catalyst Biosciences Lands $40,400,000 Series C Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=c73a678f-ab17-4733-828b-ccbdaf5ae613&Preview=1 Date 12/3/2008 Company Name Catalyst Biosciences Mailing Address 260 Littlefield Avenue South San Francisco, CA 94080 Company Description Catalyst Biosciences is developing the next generation of biopharmaceuticals by harnessing the catalytic power of proteases. Website http://www.catalystbiosciences.com Transaction Type Venture Equity Transaction Amount $40,400,000 Transaction Round Series C Proceeds Purposes The financing … Continue reading “Catalyst Biosciences Lands $40,400,000 Series C Round”
Entellium Files for Bankruptcy
Seattle-based Entellium said it has filed for bankruptcy protection today, as it prepares to sell off its assets. In October, the software company’s top two executives, Paul Johnston and Parrish Jones, resigned and were charged with fraud. The filing says Entellium has $37.7 million in assets and $12.7 million in liabilities. Its creditors are listed … Continue reading “Entellium Files for Bankruptcy”
38 Studios Goes National with Student Game Challenge
38 Studios, the Maynard, MA-based game development house founded by Red Sox pitcher Curt Schilling, announced today that it’s repeating the “Massachusetts Game Challenge” it launched last year. But the company is extending eligibility beyond New England this time to all U.S. and Canadian college and university students. The contest is designed to cultivate and … Continue reading “38 Studios Goes National with Student Game Challenge”
Appeals Court Slams Qualcomm, Clarifies Law on Disclosing Patents to Standards Groups
A federal appellate court agreed that San Diego’s Qualcomm (NASDAQ: [[ticker:QCOM]]) should be punished for hiding its work from industry groups developing a new video technology standard. But the three-judge panel ruled that a San Diego trial judge went a step too far by invalidating Qualcomm’s patents on the video compression technology it had concealed. … Continue reading “Appeals Court Slams Qualcomm, Clarifies Law on Disclosing Patents to Standards Groups”
Amazon Completes AbeBooks Acquisition
Seattle-based Amazon announced it has completed its acquisition of Victoria, BC-based AbeBooks, an online marketplace for used, rare, and out-of-print books. The deal was originally announced on August 1. With the purchase, Amazon (NASDAQ: [[ticker:AMZN]]) also owns 40 percent of LibraryThing, a literary social site based in Cambridge, MA, which competes with Seattle-based Shelfari, another … Continue reading “Amazon Completes AbeBooks Acquisition”
Vestas Wind Picks Mass. R&D Site
Vestas Wind Systems, a Danish wind turbine maker, reports that it plans to open an R&D center at an undisclosed location in the western suburbs of Boston, where it will develop generators, converters, and control technologies for future wind turbines. The company says that the core staff of the R&D hub will come from ePower, … Continue reading “Vestas Wind Picks Mass. R&D Site”
Creator of Seattle 2.0, Marcelo Calbucci, Looks to Build the Ultimate Resource Site for Startups
Are you a new tech entrepreneur in the Seattle area? Or interested in the workings of startups from a Northwest perspective? If so, you should check out Marcelo Calbucci’s “ultimate guide,” which he posted on his Seattle 2.0 blog yesterday. In it, he discusses the practicalities of starting a business, like office space, legal issues, … Continue reading “Creator of Seattle 2.0, Marcelo Calbucci, Looks to Build the Ultimate Resource Site for Startups”
Pure Gets Global Marketing Partner for Germ-Killing Compound
San Diego’s Pure Bioscience, (NASDAQ: [[ticker:PURE]]) a 25-employee company, has gained a global partner for its silver-based compound that acts as a germ-killing alternative to chlorine and other chemicals. Pure gave exclusive marketing rights to Switzerland’s Ciba for silver dihydrogen citrate, or SDC, in Ciba personal care products worldwide. The deal also gave non-exclusive rights … Continue reading “Pure Gets Global Marketing Partner for Germ-Killing Compound”
Targeted Genetics Cuts 7 Jobs, Lowers Executive Pay
Targeted Genetics, a Seattle biotech company, said today it is cutting payroll costs by 25 percent, and other costs by 15 percent. The company said it is eliminating seven jobs, and deferring salary or switching some of its seven most senior executives to half-time work to achieve the cost savings. Targeted Genetics (NASDAQ: [[ticker:TGEN]]) had … Continue reading “Targeted Genetics Cuts 7 Jobs, Lowers Executive Pay”
Venom-Derived Drug Trial Gets FDA OK
Transmolecular, a Cambridge, MA-based biotech firm, reports that the FDA has agreed to consider a filing for approval of its lead anti-cancer drug (TM601) if the molecule meets goals of a late-stage clinical trial, under the agency’s so-called Special Protocol Assessment process. The trial will test the molecule—derived from yellow scorpion venom—as a treatment for … Continue reading “Venom-Derived Drug Trial Gets FDA OK”
Helicos Shuffles CEOs, Names Lowy to Top Job
Helicos Biosciences, (NASDAQ: [[ticker:HLCS]]) the Cambridge, MA-based maker of genetic analysis tools, said it has hired Ronald Lowy as CEO, replacing Steve Lombardi, who was promoted to the top job in August. Lombardi will continue working at the company as president and as a member of the board, while concentrating on commercializing the HeliScope product … Continue reading “Helicos Shuffles CEOs, Names Lowy to Top Job”
Biogen Confirms HQ Move from Cambridge to Suburbs
Biogen Idec (NASDAQ:[[ticker:BIIB]]) confirmed yesterday that the biotech company plans to move its corporate headquarters from Cambridge, MA, to a site in Weston, MA, in 2010, the Boston Business Journal reports. A company spokeswoman told the BBJ that the firm has recently inked a lease on 350,000 square feet of office space in the Boston … Continue reading “Biogen Confirms HQ Move from Cambridge to Suburbs”
Thanks, Globe Magazine!
We got a nice surprise over the weekend when the Boston Globe Magazine included us in its Sunday feature on “Sixty-four websites on Boston life that you should know.” The story is definitely worth checking out. Even for those of us who live on the web these days, it holds some great discoveries on everything … Continue reading “Thanks, Globe Magazine!”
FeedRoom Swallows Clearstory
Clearstory Systems, a maker of digital asset management software in Westborough, MA, said today that it has been acquired by The FeedRoom, a New York-based Web video management company. Clearstory’s price was not disclosed.
UTest Raises $5M Series B Round
UTest, the Boston-based software quality assurance outsourcing startup we profiled back in August, said today that it has raised a $5 million Series B funding round. The funds, which come on top of a $2.23 million Series A round announced in March, are from new investors Longworth Venture Partners and Egan-Managed Capital, both located in … Continue reading “UTest Raises $5M Series B Round”
Boston Scientific in $11M Funding for Estech
Natick, MA-based medical devices giant Boston Scientific (NYSE:[[ticker:BSX]]) has invested in an $11 million closing of a second-round financing for Endoscopic Technologies (Estech), a privately held provider of minimally invasive devices for heart surgeries headquartered in San Ramon, CA, VentureBeat reported today, citing a U.S. Securities and Exchange Commission filing. VentureBeat says that other investors … Continue reading “Boston Scientific in $11M Funding for Estech”
Hospital-Backed Partners VC Fund Finds Deals Close to Home—Here’s the Early List
It occurred to me that Partners Innovation Fund, unlike all other venture investors I can think of, knows exactly where it will find its future deals. That’s because the fund, launched by Massachusetts General and Brigham and Women’s hospitals last year, invests exclusively in startups with science from the two Harvard-affiliated hospitals. And given that … Continue reading “Hospital-Backed Partners VC Fund Finds Deals Close to Home—Here’s the Early List”
Clearwire Closes WiMax Merger, Entellium Goes on Sale, Microsoft May Yet Buy Yahoo Search, & More Seattle-Area Deals News
Despite the Thanksgiving holiday, it was a fairly busy week for deals in the Northwest. Some big companies reared their heads (or at least were reported to) in software, wireless, and biotech, and other deals are in the works, so stay tuned. —The Times of London reported that Microsoft (NASDAQ: [[ticker:MSFT]]) is looking to acquire … Continue reading “Clearwire Closes WiMax Merger, Entellium Goes on Sale, Microsoft May Yet Buy Yahoo Search, & More Seattle-Area Deals News”
San Diego’s SeaBotix Making Robots For Deep Blue See
When hurricanes Gustav and Ike blew through the Gulf of Mexico in late August and September, most offshore oil and gas production platforms were evacuated and shut down. That’s bad news for the estimated 3,800 platforms in the region, which account for roughly 25 percent of U.S. domestic oil output and 15 percent of natural … Continue reading “San Diego’s SeaBotix Making Robots For Deep Blue See”
Can Tiny Insect Planes Survive Collisions? The Air Force Wants to Know
Here at Xconomy we usually focus on technologies already hitting the marketplace rather than laboratory-stage investigations. But last week we got wind of a project that’s so cool we just had to write about it: an effort to build tiny robot planes with flexible structures and built-in reflexes that would allow them to ricochet off … Continue reading “Can Tiny Insect Planes Survive Collisions? The Air Force Wants to Know”
Who Needs VCs? Seattle Entrepreneurs Say Bootstrapping Is the Way To Go (Part 2)
What are the arguments for and against bootstrapping a tech startup? When should a company raise venture funding? And what have Seattle entrepreneurs experienced in taking various different paths? I interviewed three prominent local entrepreneurs in the past week to get their thoughts. Yesterday, in Part 1 of this story, I gave some context and … Continue reading “Who Needs VCs? Seattle Entrepreneurs Say Bootstrapping Is the Way To Go (Part 2)”
uTest, Inc. Lands $5,000,000 Series B Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=92ce67e3-a085-4e9c-9320-4254ccb9f21e&Preview=1 Date 12/2/2008 Company Name uTest, Inc. Mailing Address 153 Cordaville Rd Southborough, MA 01772 Company Description uTestTM is revolutionizing traditional software testing by introducing the first global marketplace for software application testing coupled with a Pay Per Bug business model. Website http://www.utest.com Transaction Type Venture Equity Transaction Amount $5,000,000 Transaction Round … Continue reading “uTest, Inc. Lands $5,000,000 Series B Financing Round”
BEZ Systems Garners Series D Funding Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=4cb48aba-293c-4e41-90fc-17d7f628a9df&Preview=1 Date 12/2/2008 Company Name BEZ Systems Mailing Address 345A Summer Street Boston, MA 02210 Company Description BEZ Systems is an emerging, venture-backed software company that offers innovative Predictive Performance Management (PPM) solutions that provide a line-of-business view of application resource utilization that allows the enterprise to accurately profile application performance, compare … Continue reading “BEZ Systems Garners Series D Funding Round”
Venture Rounds at Energetiq, ExtendMedia, Viridity
It’s time for a trio of local funding announcements by way of Private Equity Hub, whose parent company Thomson Reuters has an arrangement with the Securities and Exchange Commission to receive copies of Regulation D filings disclosing changes in stock ownership at privately held companies (a complicated subject unto itself). Frequently, the information on these … Continue reading “Venture Rounds at Energetiq, ExtendMedia, Viridity”
Entellium, Intuit in Reported Deal
Intuit, a financial software firm based in Mountain View, CA, has made an offer to buy the assets of Seattle startup Entellium, according to TechFlash. The report cites an interview with Entellium spokesperson Diane Carlini, as well as an anonymous source who puts the purchase price at about $8 million. Entellium, which was backed by … Continue reading “Entellium, Intuit in Reported Deal”
Obama’s Victory and Stem Cell Research: A New Era?
“I am frustrated…that we are preventing the advancement of important science that could potentially impact millions of suffering Americans…My hope, and the hope of so many in this country, is to provide our researchers with the means to explore the uses of embryonic stem cells so that we can begin to turn the tide on … Continue reading “Obama’s Victory and Stem Cell Research: A New Era?”
Clearwire Finally Inks WiMax Deal
Since May, Kirkland, WA-based Clearwire (NASDAQ: [[ticker:CLWRD]]) and Overland Park, KS-based Sprint Nextel (NYSE: [[ticker:S]]) have been working to combine their next-generation wireless Internet access businesses, and the two companies finally completed the deal on Friday. Using a $3.2 billion venture investment from Comcast, Intel, Time Warner Cable, Google and Bright House Networks, the new … Continue reading “Clearwire Finally Inks WiMax Deal”
Disputed Report Says Microsoft To Acquire Yahoo’s Search Business—Any Truth To It?
Yes, they’re at it again. Or are they? For those who didn’t spend their holiday weekend following the latest twists in the Microsoft-Yahoo acquisition soap opera, let’s get you up to speed on whether there’s any substance to the latest reports. On Saturday, the UK-based Times Online (aka The Times of London) reported that Microsoft … Continue reading “Disputed Report Says Microsoft To Acquire Yahoo’s Search Business—Any Truth To It?”
Cyber Monday Breaking Records So Far, Akamai Says
Today is Cyber Monday—the Internet sequel to the Black Friday retailing rush. And according to Cambridge, MA-based Akamai, whose global network of content servers is used by hundreds of large e-commerce sites to accelerate website performance, traffic to e-retail sites is approaching record-breaking levels today as consumers try to complete their holiday gift-giving online. Akamai’s … Continue reading “Cyber Monday Breaking Records So Far, Akamai Says”