Particle accelerators are used as tools of archaeology that tell you the approximate age of King Tut. But Seattle-based Accium Biosciences has hit upon a way to use these tools to improve everyday prescription drug development. I discovered this enormous cylinder—which weighs a whopping 15 tons—on a tour last week of Swedish Medical Center’s new … Continue reading “Accium Biosciences, Pioneer of Particle Accelerator for Drug Development, Finds Niche”
Sofinnova Ventures’ David Kabakoff, Hybritech Veteran, Sees Promise in San Diego Biotech
One thing I learned on my recent trip to San Diego, is that the local biotech companies usually can’t just drive a couple miles down the road to meet a venture capitalist because they’re clustered to the north in Silicon Valley. So I tracked down Sofinnova Ventures’ David Kabakoff, a prominent VC who actually does … Continue reading “Sofinnova Ventures’ David Kabakoff, Hybritech Veteran, Sees Promise in San Diego Biotech”
GreenFuel Fired Up for Big Plant in Spain—Announces Next Phase of $92 Million Plan
GreenFuel Technologies, the Cambridge, MA-based developer of algae bioreactor systems that convert carbon dioxide emissions into clean-burning biofuels, announced today that it had launched the second phase of a major project with Spanish renewable energy firm Aurantia to build a large-scale algae farming plant adjacent to a CO2-spewing cement plant near Jerez, Spain. In making … Continue reading “GreenFuel Fired Up for Big Plant in Spain—Announces Next Phase of $92 Million Plan”
Imperium Infused with $18M, Winshuttle Wins Over the French, the Top 10 Q3 Venture Deals, & More Seattle-Area Deals News
With baseball’s Fall Classic about to begin (hats off to the Tampa Bay Rays), deals in the Northwest have continued to pick up. No blockbusters in the past week, but there was decent action in tech mergers and acquisitions, as well as funding of biotech and energy companies. —Bob reported on the top 10 venture … Continue reading “Imperium Infused with $18M, Winshuttle Wins Over the French, the Top 10 Q3 Venture Deals, & More Seattle-Area Deals News”
Replay Solutions LLC Secures $2,000,000 Series B Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=066524c5-419a-4d04-8c30-0306e6c322d8&Preview=1 Date 10/21/2008 Company Name Replay Solutions LLC Mailing Address 2100 Seaport Blvd. Redwood City, CA 94063 Company Description Replay Solutions is an exciting young company developing revolutionary software technology. Replay technology is changing the way software is built and shipped. Website http://www.replaysolutions.com Transaction Type Venture Equity Transaction Amount $2,000,000 Transaction Round … Continue reading “Replay Solutions LLC Secures $2,000,000 Series B Round”
Sensorin Receives Series B Funding Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=e4c6cf71-e00f-4cb4-ad7e-13d4ab88a8a0&Preview=1 Date 10/21/2008 Company Name Sensorin Mailing Address 863A Mitten Road Burlingame, CA 94010 Company Description Sensorin is developing and commercializing a novel, proprietary and versatile sensing technology platform. The company is initially focusing on pH measurement in high-value manufacturing, where an internally referenced, self-calibrating system without drift is advantageous. The Sensorin … Continue reading “Sensorin Receives Series B Funding Round”
Intransa Garners $15,000,000 New Funding
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=06f45fc5-f642-4533-bbd4-c61ac5734f14&Preview=1 Date 10/21/2008 Company Name Intransa Mailing Address 10710 N. Tantau Avenue Cupertino, CA 95014 Company Description Intransa is an innovator of an enterprise class, intelligent IP storage products and software. Based on technology that leverages the low cost and maturity of Ethernet technology, Intransa’s IP SAN solutions dramatically reduce the cost … Continue reading “Intransa Garners $15,000,000 New Funding”
Brightstorm Receives $6,000,000 Series A Funding Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=136b03ba-9ea6-4001-b252-ff43766c6847&Preview=1 Date 10/21/2008 Company Name Brightstorm Mailing Address 685 Market St. San Francisco, CA 94105 Company Description Brightstorm is an online learning network for teens, teachers and parents. We founded the company with the belief that great learning starts with great teaching and wanted to give every student the opportunity to learn … Continue reading “Brightstorm Receives $6,000,000 Series A Funding Round”
Social Networks, Swedish Phone Throwing, & More at Mobile Northwest
“One banker says to the other—wait, what other banker?” says Tom Huseby. The Seattle venture capitalist and wireless guru slipped in a joke about the thinning ranks of financiers during his keynote talk at today’s second annual Mobile Northwest Conference. I had a chance to stop by and see this morning’s session at the convention … Continue reading “Social Networks, Swedish Phone Throwing, & More at Mobile Northwest”
GrapeCity Grabs Data Dynamics
GrapeCity, an international software company with U.S. headquarters in Kirkland, WA, announced it has acquired Columbus, OH-based Data Dynamics. Financial terms were not disclosed, but the transition will begin in January 2009. GrapeCity is based in Japan and partners with Microsoft to build software tools and services for businesses.
$66M Army Order at BAE Systems
Lexington, MA-based defense and aerospace giant BAE Systems said today that the U.S. Army has placed a $66 million order for thermal weapon sights used on rifles, machine guns, and mounted weapons. BAE’s thermal sights include sophisticated electronic infrared sensors that allow soldiers to spot targets even if they’re obscured by darkness, foliage, or camouflage. … Continue reading “$66M Army Order at BAE Systems”
Adventrx Cuts One-Fourth of Staff, CEO Resigns
San Diego-based Adventrx Pharmaceuticals (AMEX: [[ticker:ANX]]) announced today that it had cut its workforce by nine people, and that its CEO and President, Evan Levine, had resigned effective October 17. The cuts represent 27 percent of Adventrx’s staff, and the company says that it is restructuring so as to direct all resources toward its two … Continue reading “Adventrx Cuts One-Fourth of Staff, CEO Resigns”
Cypress Fibromyalgia Drug Stalled by FDA
Cypress Bioscience will have to wait a while longer before it can start marketing its first drug. The San Diego company (NASDAQ: [[ticker:CYPB]]) and its partner, New York-based Forest Laboratories, said today the FDA wasn’t able to make a final decision by its Oct. 18 deadline on whether to clear milnacipran—already approved outside of the … Continue reading “Cypress Fibromyalgia Drug Stalled by FDA”
Tech Luminaries to Reveal Genomes
Ten prominent players in science and technology—many of them local to the Boston area—are reportedly today going to reveal about 20 percent of the genome sequences, along with their medical records on the Web. The group, including Harvard Medical School’s George Church and legendary venture capitalist Esther Dyson, are the first volunteers in Church’s Personal … Continue reading “Tech Luminaries to Reveal Genomes”
Novomer, Maker of Plastic from CO2, Moves HQ to Boston
Last November I told you about Novomer, an Ithaca, NY-based startup using proprietary zinc- and cobalt-based catalysts to make plastic from carbon dioxide and carbon monoxide. Today the company, which is funded by Cambridge, MA-based Flagship Ventures, announced that it’s moving to Boston and gaining a new CEO, former Surface Logix CEO Jim Mahoney. Novomer’s … Continue reading “Novomer, Maker of Plastic from CO2, Moves HQ to Boston”
Dyax Names Christensen New CEO; Blair Retiring
Dyax, the Cambridge, MA-based drug developer, said today that Gustav Christensen will replace co-founder Henry Blair as president and CEO on Jan. 1. Christensen joined the company as chief business officer in April 2007. Blair, who co-founded the company in 1989, plans to retire as CEO but remain chairman of the board at Dyax.
San Diego’s Top 10 Third-Quarter Venture Deals
In case the word hasn’t quite gotten around, things are not pretty on the San Diego investment scene. As Greg wrote on Saturday, venture capital outlays in the third quarter fell to just $178.4 million, a 52 percent nosedive from the previous quarter and the most dismal quarterly showing for the region since Q1 of … Continue reading “San Diego’s Top 10 Third-Quarter Venture Deals”
Ariad Gets $12.5M From Merck For Beginning Cancer Trial
Ariad Pharmaceuticals, the Cambridge, MA-based developer of cancer drugs, said today it will receive a $12.5 million milestone payment from its partner, Merck, for beginning a mid-stage study of deforolimus for patients with advanced prostate cancer. The treatment, an oral pill, is being tested against other forms of cancer through the Merck partnership.
Vertex Cystic Fibrosis Drug Improves Breathing for 28 Days
Vertex Pharmaceuticals has some good news this morning on its experimental drug for cystic fibrosis. The treatment, taken an oral pill, helped patients breathe better for 28 days, at both a high and low dose, than did a placebo. The drug didn’t appear to cause any serious side effects. The findings for VX-770 were from … Continue reading “Vertex Cystic Fibrosis Drug Improves Breathing for 28 Days”
Archemix Looks to Hitch Eli Lilly to Aptamer Express in New Deal
Archemix has added to its growing list of pharmaceutical collaborators one of the biggest names in the business, inking a licensing and options deal with Indianapolis-based drug giant Eli Lilly (NYSE:[[ticker:LLY]]). The agreement gives licenses to unspecified Lilly technology to Archemix, and it provides options to Lilly to evaluate Archemix’s signature aptamer therapeutics and to … Continue reading “Archemix Looks to Hitch Eli Lilly to Aptamer Express in New Deal”
New England’s Top Third-Quarter Venture Deals—the List
In contrast to the big drops in Xconomy’s sister regions of the Pacific Northwest and Southern California, venture deals in New England seemed to hold up pretty well in the third quarter. All told, as Greg reported Saturday, the region’s venture capitalists ponied up some $834 million for 117 deals during the period. That was … Continue reading “New England’s Top Third-Quarter Venture Deals—the List”
WRF Capital, With Clock Ticking on Expiring Patents, Aims to Build Sustained Venture Fund
Ron Howell’s job forces him to think a lot about the year 2014. Howell, the CEO of the Washington Research Foundation, has no other choice, because that’s the year when the patents run out on an invention that has been his organization’s primary source of cash since the 1980s. It’s a big reason why he’s … Continue reading “WRF Capital, With Clock Ticking on Expiring Patents, Aims to Build Sustained Venture Fund”
Trius Therapeutics, Developer of Antibiotic Against MRSA, Taking On Pfizer’s Zyvox
Whenever headline writers get whipped up about another wave of MRSA or other drug-resistant bacteria sweeping the land, a venture capitalist somewhere starts thinking about creating new antibiotics to stop it. Jeff Stein was in that position a couple years ago at Sofinnova Ventures, and he found an experimental drug he liked so much that … Continue reading “Trius Therapeutics, Developer of Antibiotic Against MRSA, Taking On Pfizer’s Zyvox”
Synta Snags $25M From GSK, GT Solar and Evergreen Solar Sell More Solar Stuff, Predictive Biosciences Foresees $22M, & More Boston-Area Deals News
Last week had a little bit of everything for Boston-area deals watchers. —Lexington, MA-based cancer drug developer Synta Pharmaceuticals (NASDAQ: [[ticker:SNTA]]) got a $25 million payday from partner GlaxoSmithKline. The payment was tied to reaching milestones in the development of a drug called elesclomol, which is in late-stage testing as a treatment for metastatic melanoma. … Continue reading “Synta Snags $25M From GSK, GT Solar and Evergreen Solar Sell More Solar Stuff, Predictive Biosciences Foresees $22M, & More Boston-Area Deals News”
Top 10 Q3 Venture Deals in the Northwest
The third quarter saw a pretty significant decline in Northwest venture deals, as Greg reported on Saturday. But still some big ones were landed—starting with one of the biggest in the nation: Big Fish Games. The Seattle maker of casual and online games (a 2002 spinoff from RealNetworks) took in a whopping $83.3 million, more … Continue reading “Top 10 Q3 Venture Deals in the Northwest”
SkinMedica, Inc. Obtains $27,500,000 New Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=f389a131-3669-496f-b932-c10a1556875e&Preview=1 Date 10/20/2008 Company Name SkinMedica, Inc. Mailing Address 5909 Sea Lion Place Carlsbad, CA 92010 Company Description SkinMedica is a privately held specialty pharmaceutical company marketing both prescription and cosmeceutical dermatology products. Website http://www.skinmedica.com Transaction Type Debt Transaction Amount $27,500,000 Transaction Round Undisclosed Proceeds Purposes SkinMedica will use the financing for … Continue reading “SkinMedica, Inc. Obtains $27,500,000 New Financing Round”
Cobalt Biofuels Lands $25,000,000 Series C Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=c93e9d71-545d-4140-8b4c-8dbe86c88e12&Preview=1 Date 10/20/2008 Company Name Cobalt Biofuels Mailing Address 500 Clyde Avenue Mountain View, CA 94043 Company Description Cobalt Biofuels is contributing to solving energy challenges by making commercial scale biobutanol from biomass a sustainable reality. Our patented and proprietary technologies create favorable economics for the biorefinery business model by increasing productivity … Continue reading “Cobalt Biofuels Lands $25,000,000 Series C Financing”
Om Records Obtains New Funding Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=0d757d56-cfd2-4d80-b33c-c8cb58dec3c8&Preview=1 Date 10/20/2008 Company Name Om Records Mailing Address 665 3rd Street San Francisco, CA 94107 Company Description Founded in 1995 as a response to the cross-pollination of the funky underground music scene in San Francisco, Om Records is a powerhouse music company with over two-hundred and fifty releases under its belt, … Continue reading “Om Records Obtains New Funding Round”
The Lights Are Still On (Think Energy and Biotech Investments), but the Party’s Over for Many U.S. Venture Deals
The venture-capital numbers for the U.S. are out for the third quarter of 2008, and they don’t quite reflect the turmoil in the broader financial markets—at least not yet. Total venture investment in U.S. companies in Q3 amounted to $7.1 billion in 907 deals, which is down 7 percent from the second quarter of this … Continue reading “The Lights Are Still On (Think Energy and Biotech Investments), but the Party’s Over for Many U.S. Venture Deals”
Real-Estate Startups Reeling as Zillow Lays Off a Quarter of Its Staff
Bad news comes in threes. (Or let’s hope it’s only in threes.) After this week’s layoffs at Seattle-based Redfin and Portland, OR-based Jive Software, Seattle real estate firm Zillow today announced it has cut 25 percent of its staff. Last month, Zillow’s CFO Spencer Rascoff said the company had 150 employees. That would mean the … Continue reading “Real-Estate Startups Reeling as Zillow Lays Off a Quarter of Its Staff”
Altitude Makes Heroic Guitar
Somerville, MA-based product design firm Altitude has introduced a full-scale, wooden guitar controller to replace the goofy plastic one that comes with the cult-hit video games Guitar Hero and Rock Band, according to a report this week in Wicked Local. The $180 controller, designed to work with the PlayStation 2 and PlayStation 3 consoles, provides … Continue reading “Altitude Makes Heroic Guitar”
Big Solar Contracts for Evergreen, GT Solar
In separate announcements yesterday, New England solar equipment suppliers Evergreen Solar and GT Solar said they’d won big contracts from companies in Japan, Taiwan, and the United States. Marlborough, MA-based Evergreen (NASDAQ: [[ticker:ESLR]]), which manufactures silicon solar panels using a proprietary “string ribbon” process, said that it had signed one contract with North American solar … Continue reading “Big Solar Contracts for Evergreen, GT Solar”
Downturn is Perfect Time for Startups, Paul Graham Says
Paul Graham may be the founder of famed Mountain View, CA- and Cambridge, MA-based startup academy Y Combinator, but he’s almost as well known for his monthly essays about the technology business. His latest edition, out today, argues that it’s no harder to get a technology startup off the ground during bad economic times than … Continue reading “Downturn is Perfect Time for Startups, Paul Graham Says”
Nokia to Pay Qualcomm $2.8B
Finish communications giant Nokia will pay San Diego-based Qualcomm about $2.3 billion under the just-released terms of a previously signed patent licensing deal, socalTECH reports, citing Nokia’s third quarter results announced earlier this week. The companies announced an agreement this summer to settle Qualcomm’s patent infringement claims against Nokia, but the terms had not been … Continue reading “Nokia to Pay Qualcomm $2.8B”
TrackSimple Raises $2.5M From Ignition
TrackSimple, a Seattle-based technology company, has raised $2.5 million in a Series A venture capital financing led by Ignition Partners. The company’s technology captures customer events, aggregating data in near real-time, according to PE Hub.
San Diego Biotechnology Network Inaugural Event, Featuring Sapphire Energy
This is the inaugural event for the newly formed San Diego Biotech Network. This new networking group was formed to meet the need for more face-to-face networking among biotechnology professionals in the San Diego area, via casual, bi-monthly after-work events. The first featured company, Saphire Energy, has built a platform using sunlight, CO2 and microorganisms … Continue reading “San Diego Biotechnology Network Inaugural Event, Featuring Sapphire Energy”
New York Times Rates McCain, Obama on Innovation
The New York Times published an extensive look today at the presidential candidates’ platforms and records on high-tech innovation in the United States, with a focus on what the two men would do as president to protect and restore the country’s competitive edge. It’s interesting reading. Despite their parties’ conflicting ideologies, Senators McCain and Obama … Continue reading “New York Times Rates McCain, Obama on Innovation”
$4M for V.i. Labs
Waltham, MA-based security software company V.i. Labs, which closed an $8 million Series B financing round in November 2007, announced today that it has gathered an additional $4 million in venture funding from existing investors Core Capital and Ascent Ventures. V.i. Labs’ leading products are Code Armor Protection, which encrypts Windows and .NET applications so … Continue reading “$4M for V.i. Labs”
Funding Round Two for T2 and Its Pint-Sized Diagnostic Devices
T2 Biosystems, a Cambridge, MA-based startup founded by a cadre local life sciences legends, today announced it has closed a $10.8 million Series B financing round. Flagship Ventures, Polaris Venture Partners, Flybridge Capital Partners, Partners Healthcare, and In-Q-Tel provided the new cash; the first three also participated in T2’s initial $5.5 million financing in 2006. … Continue reading “Funding Round Two for T2 and Its Pint-Sized Diagnostic Devices”
Drew Senyei, the VC behind the Movie on Hungary’s Class of ’56
The long journey that Drew Senyei began in 1956 presently ends in San Diego, where he is well-known as the managing director of Enterprise Partners Venture Capital. As a physician and erstwhile biomedical researcher, Senyei holds more than 20 patents and specializes as a venture investor in emerging life sciences companies. (He also is an Xconomist.) … Continue reading “Drew Senyei, the VC behind the Movie on Hungary’s Class of ’56”
Allozyne Advances Toward Clinic, Sonosite Boots CFO, Leroy Hood’s Common Thread With Tupac, & More Seattle-Area Life Sciences News
It was a volatile week in the stock market, and as usual, in Seattle biotechnology. We got insights into an expansion of a biotech drug factory, the advance of a potentially important new drug for multiple sclerosis, and a warning that cuts are coming at Arch Venture Partners’ portfolio companies. Here are some of the … Continue reading “Allozyne Advances Toward Clinic, Sonosite Boots CFO, Leroy Hood’s Common Thread With Tupac, & More Seattle-Area Life Sciences News”
SolarWorld Opens Huge Factory in Oregon, Wants to Lead the World in Photovoltaics
Today marks the opening of what will be North America’s largest solar-cell manufacturing plant. And it’s right here in the Northwest. SolarWorld, based in Bonn, Germany, is launching a new solar facility in Hillsboro, OR. On the docket this morning is a ribbon-cutting ceremony and a tour of the sprawling, 480,000 square-foot facility. Expected to … Continue reading “SolarWorld Opens Huge Factory in Oregon, Wants to Lead the World in Photovoltaics”
Santarus Takes on Marketing Goliaths With Faster-Acting Heartburn Drug
If you own a television, you’ve probably heard of the purple pill. It’s a marketing hit for chronic heartburn, sold under the name Nexium, brought to you by pharmaceutical giant AstraZeneca. Calling this a tough market to crack would be an understatement, but the folks at San Diego-based Santarus are willing to play the role … Continue reading “Santarus Takes on Marketing Goliaths With Faster-Acting Heartburn Drug”
Is Brown the New Green? Why Boston’s Ugly, Expensive Macallen Condos Shouldn’t Be a Model For Green Buildings
Along West 4th Street in Boston, just past I-93 and the MBTA train yard, there’s a big brown apartment building with an odd sloping roof. I live about a mile away, and I’ve gone past this building several times on walks and bike rides without thinking much about it, except that it’s unattractive in an … Continue reading “Is Brown the New Green? Why Boston’s Ugly, Expensive Macallen Condos Shouldn’t Be a Model For Green Buildings”
T2 Biosystems Receives $10,800,000 Series B Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=b1fbb0aa-8310-4569-a11c-9ee157320d1f&Preview=1 Date 10/17/2008 Company Name T2 Biosystems Mailing Address 286 Cardinal Medeiros Avenue Cambridge, MA 02141 Company Description T2 Biosystems is a newly formed diagnostics company ushering in a new wave of innovative products to improve medical decision-making and treatment. Our proprietary biosensor technology was invented by a team of world-renowned scientists … Continue reading “T2 Biosystems Receives $10,800,000 Series B Round”
V.i. Laboratories, Inc. Receives $4,000,000 New Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=556811d3-37f2-4192-9b0f-f385a734add0&Preview=1 Date 10/17/2008 Company Name V.i. Laboratories, Inc. Mailing Address 130 Turner Street Waltham, MA 02453 Company Description V.i. Labs’ provides software protection solutions that secure valuable applications against piracy, tampering and code theft. Unlike other security technologies available today, our solutions protect applications without requiring modifications to the application source code … Continue reading “V.i. Laboratories, Inc. Receives $4,000,000 New Financing”
Imperium Collects $18M To Pay Down Debts
Imperium Renewables, the Seattle-based biodiesel maker, raised more than $18 million last month from investors to pay down some of its debts, according to this report by The Seattle Times that cites a filing with the Securities and Exchange Commission. Greg reported a couple weeks ago that Imperium’s existing investors provided a cash infusion to … Continue reading “Imperium Collects $18M To Pay Down Debts”
ESI and Zygo To Merge
Portland, OR-based Electro Scientific Industries (NASDAQ: [[ticker:ESIO]]) and Middlefield, CT-based Zygo (NASDAQ: [[ticker:ZIGO]]) announced today they have agreed to merge in an all-stock transaction. ESI’s expertise is in photonic microengineering, while Zygo’s is in metrology and optical systems. The merger is expected to be complete in the first quarter of 2009.
Dying Cancer Patient Gets Tysabri After Biogen Idec’s Earlier Denial
Frederick Baron, the prominent attorney dying of bone marrow cancer, has gotten his wish for a dose of Tysabri after all. The FDA and the Mayo Clinic found a legal basis to give him the drug in an emergency situation, according to a post on Dembot by his son, Andrew. “We have every expectation of … Continue reading “Dying Cancer Patient Gets Tysabri After Biogen Idec’s Earlier Denial”
Micronics Makes $9M
Redmond, WA-based Micronics, a maker of tools for molecular diagnostics and monitoring, announced today it has closed a Series C financing round led by the Southwest Michigan First Life Science Fund. The latest round, combined with a Series B round raised earlier this year from private investors, brings a total of $9 million in capital … Continue reading “Micronics Makes $9M”