Biogen Idec Shares Push Upward on Down Day for Market: More Grist for the Takeover Mill

An after-market-hours report by the Financial Times‘ dealReporter yesterday evening on the bidding for Biogen Idec appears to have put wind in the firm’s stock today—as shares surged more than six points to $77.45 before settling down on another off day for Wall Street to close up $3.86 (nearly 5.5 percent) at $74.99. Yesterday’s dealReporter … Continue reading “Biogen Idec Shares Push Upward on Down Day for Market: More Grist for the Takeover Mill”

Xconomy Forum, December 5: The Future of Innovation in New England

Innovation springs from diversity. And bringing together people and ideas from diverse backgrounds, fields, and experience to help explore and drive innovation is core to Xconomy’s mission. We’re trying to do that online, through both our editorial coverage and our Xconomist Forum, which we hope add a fresh, more personal, and insightful dimension to the … Continue reading “Xconomy Forum, December 5: The Future of Innovation in New England”

ExaGrid Pulls in $20 Million Series C Round in Bid to Replace Tape-Based Backup

Magnetic tape may seem so 20th-century in an era when a single iPod Classic can carry 160 gigabytes of data on its tiny hard drive, but tape is still a key technology in the world of corporate data management, where it’s a cheaper way to store large volumes of data over long periods than disk … Continue reading “ExaGrid Pulls in $20 Million Series C Round in Bid to Replace Tape-Based Backup”

Genzyme to Acquire Diagnostic Chemicals Division

Cambridge-based Genzyme announced on Wednesday that it has agreed to acquire the diagnostic division of Canada’s Diagnostic Chemicals. Terms of the all-cash agreement were undisclosed. The acquisition, involving DCL operations in Prince Edward Island and Connecticut, brings into the Genzyme fold some 50 formulated clinical chemistry reagents, which garnered roughly $21 million in revenues in … Continue reading “Genzyme to Acquire Diagnostic Chemicals Division”

Young Venture Capitalists to Launch Social Networking Site for VCs

Aiming to encourage collaborations that could fuel more effective creation of new businesses in the greater Boston region and beyond, a group of young venture capitalists will gather tonight at the EMC Club in Fenway Park to kick off their new professional networking website. VentureNetwork.VC, set to go live by tomorrow morning, is the offspring … Continue reading “Young Venture Capitalists to Launch Social Networking Site for VCs”

Setback for Momenta, Setback for Biogenerics?

A drug company is never happy to get a “not approvable” letter from the FDA, and the one received Monday by Cambridge, MA’s Momenta Pharmaceuticals (NASDAQ [[ticker:MNTA]]) and its partner Sandoz was a doozy, coming more than two years after the firms filed for approval of a generic version of Lovenox, which had U.S. sales … Continue reading “Setback for Momenta, Setback for Biogenerics?”

$2 Million Round for Frame Media

Frame Media, a Wellesley, MA-based startup that uses the RSS standard to distribute photos, news, and other content to wireless digital picture frames, announced today that it has closed a $2 million Series A funding round co-led by CommonAngels and Longworth Venture Partners. “With the addition of Wi-Fi capabilities in digital picture frames, Frame Media … Continue reading “$2 Million Round for Frame Media”

Xconomy’s First Poll: If You Had $10 Million…You’d Invest In Cleantech! Say What?

Last week, in our usual understated fashion, we here at Xconomy launched a new poll widget. It’s just another in a growing line of features—such as our recent podcasts and News Xpress offerings—that we like to drop into the site to hopefully engage and inform our readers (News Xpress is taking off, but I think … Continue reading “Xconomy’s First Poll: If You Had $10 Million…You’d Invest In Cleantech! Say What?”

First Mass-Produced XO Laptop Rolls Off Line

An assembly line dedicated to the One Laptop Per Child Foundation’s XO Laptop went into operation yesterday at Quanta Computer’s new Changshu factory north of Shanghai yesterday, a few days ahead of the timeline One Laptop CTO Mary Lou Jepsen projected the last time Xconomy spoke with her. CNET and Top Tech News have good … Continue reading “First Mass-Produced XO Laptop Rolls Off Line”

Making Your Next Computer from Carbon Dioxide

Many industrial processes such as coal gasification create carbon monoxide and carbon dioxide as waste products. Usually, these gases are vented straight into the atmosphere, where they contribute to pollution and global warming. But what if they could instead be diverted into a chemical process for making some useful material—say, the plastic case of your … Continue reading “Making Your Next Computer from Carbon Dioxide”

Acusphere Passes Latest Stress Test, But is Time Running Out?

It was finally good news for Watertown-based Acusphere (NASDAQ: [[ticker:ACUS]]) this week, as the company reported positive clinical trial results for its lead product, called Imagify, at the American Heart Association (AHA) annual meeting. But the burning question is whether that news comes in time. Acusphere is 14 years old and running out of cash. … Continue reading “Acusphere Passes Latest Stress Test, But is Time Running Out?”

Insulet Prices SPO

Insulet (NASDAQ: PODD) a diabetes-management firm in Bedford, MA, priced its secondary offering of 4.9 million shares at $23.25, according to an SEC filing. The shares were offered by Insulet shareholders, so no proceeds will go to the company.

GrandBanks Beams Toronto Virtualization Startup to Beantown; Its Fourth Canadian Transplant Since 2001

Virtualization is all about breaking down artificial boundaries. Typically, the boundaries involved are those between machines such as business servers—and Xkoto, a virtualization startup that announced a $7.5 million Series B funding round yesterday, fits that mold perfectly. It’s one of many companies these days looking at corporate data centers and trying to figure out … Continue reading “GrandBanks Beams Toronto Virtualization Startup to Beantown; Its Fourth Canadian Transplant Since 2001”

SOLD OUT—Xconomy Forum: The Future of Innovation in New England

New England is home to the world’s greatest concentration of elite universities, large corporations and startups, venture-capital and business leadership, great research hospitals, and science and technology expertise spanning everything from life sciences to energy to robotics and IT. But how well do we collaborate and share ideas? How well do we identify and tackle … Continue reading “SOLD OUT—Xconomy Forum: The Future of Innovation in New England”

Will it Rain RNAi Companies? Dicerna Co-Founder John Rossi Says New IP Opens Avenues

If all goes as planned, Cambridge-based RNAi pioneer Alnylam (NASDAQ: [[ticker:ALNY]]) will be celebrating Thanksgiving with a new competitor in its backyard, in the form of Dicerna Pharmaceuticals, a brand-new startup fueled by about $13 million from Oxford Biosciences. Dicerna capitalizes on a new approach to making gene-silencing medicines that sprang from the laboratory of … Continue reading “Will it Rain RNAi Companies? Dicerna Co-Founder John Rossi Says New IP Opens Avenues”

Momenta Tumbles on FDA News

Shares of Cambridge, MA-based Momenta Pharmaceuticals (NASDAQ: [[ticker:MNTA]]) are down more more than 50 percent from yesterday’s close of $13.38 on the news that the company’s lead drug candidate—a generic version of the Sanofi-Aventis blood-thinner Lovenox—has been deemed “not approvable” by the FDA. Momenta is developing the drug in partnership with the Sandoz division of … Continue reading “Momenta Tumbles on FDA News”

Floating All Boats: Local Companies Have Their Own Reasons for Joining Google’s Open Source Handset Alliance

Google may be the instigator behind the new Open Handset Alliance, which plans to create an open-source operating system and application software for mobile phones, but alliance members contributing to the so-called Android platform have their own futures in mind, not necessarily Google’s. After yesterday’s official launch of the alliance, I spoke with representatives of … Continue reading “Floating All Boats: Local Companies Have Their Own Reasons for Joining Google’s Open Source Handset Alliance”

Boston Wireless Internet Plans Hit Snag—Won’t Likely Happen Before 2009

Boston’s ambitious effort to offer wireless Internet access throughout the city by the end of 2008 has run into technology and funding problems that seem bound to delay the network’s implementation, officials of the project acknowledge. Pamela Reeve, head of OpenAirBoston, the non-profit organization created to manage the program, said the debut of citywide Internet … Continue reading “Boston Wireless Internet Plans Hit Snag—Won’t Likely Happen Before 2009”

Dell to Buy Nashua’s EqualLogic for $1.4 Billion—History’s Largest Cash Payout for a Venture-Backed Firm

Nashua, NH-based EqualLogic, a fast-growing maker of network storage devices that was, until today, on the verge of going public, will instead be acquired by Dell Computer (NASDAQ: [[ticker:DELL]]) for an eyebrow-raising $1.4 billion in cash, the two companies announced today. The deal—to be completed sometime next year, subject to regulatory approval—would be the largest … Continue reading “Dell to Buy Nashua’s EqualLogic for $1.4 Billion—History’s Largest Cash Payout for a Venture-Backed Firm”

IRobot Stock Holds Weekend Gains Made on News of Preliminary Injunction Win

Shares of Burlington, MA-based iRobot (NASDAQ: [[ticker:IRBT]]) are up this morning on last week’s news that the company had won a partial preliminary injunction against Robotic FX. The ruling is likely to prevent the Illinois firm from selling the Negotiator robot, which iRobot alleges in lawsuits in Alabama and Massachusetts is based largely on its … Continue reading “IRobot Stock Holds Weekend Gains Made on News of Preliminary Injunction Win”

Numbers Game: IBM’s “Many Eyes” Portal Turns Data Visualization into Community Art

With the wrong visualization tools, data can be deathly boring—just think of all the dry, meaningless PowerPoint presentations and Excel spreadsheets you’ve endured in darkened lecture halls and conference rooms. But with the right tools and context, data can come alive, as Yale information designer Edward Tufte has famously argued and you’ll understand yourself if … Continue reading “Numbers Game: IBM’s “Many Eyes” Portal Turns Data Visualization into Community Art”

The Economic Shock to Venture Investing—Lessons Every Entrepreneur Should Know

Over the past several years, and especially since this summer when CommonAngels (where I serve as managing director) became the first angel group to join the National Venture Capital Association (NVCA), I’ve frequently been asked in varying tones of voice from the curious to the cynical, “Is CommonAngels an angel group or a venture capital … Continue reading “The Economic Shock to Venture Investing—Lessons Every Entrepreneur Should Know”

Despite Strong Showing, MIT Team Finishes Out of the Money in DARPA Robotic Vehicle Challenge

A robot car built by MIT faculty and students was one of just six autonomous vehicles to successfully complete the DARPA Urban Challenge competition this weekend. However, when the results were announced Sunday afternoon, Team MIT had missed out on the big prize money, which went to the first three finishers: Tartan Racing (led by … Continue reading “Despite Strong Showing, MIT Team Finishes Out of the Money in DARPA Robotic Vehicle Challenge”

Saying Ahed’s Destruction of Evidence “Profoundly Undermines” His Credibility, Judge Issues Partial Injunction Against Robotic FX—Much of Record Sealed

UPDATED (Nov. 2, 2007, 8:45 pm): In a federal district court ruling issued tonight, Burlington, MA-based iRobot has won a limited victory over Robotic FX, the Illinois-based maker of the Negotiator bomb-detection robot. The company secured a partial injunction that an iRobot attorney says effectively prevents Robotic FX from delivering on a $279.9 million contract … Continue reading “Saying Ahed’s Destruction of Evidence “Profoundly Undermines” His Credibility, Judge Issues Partial Injunction Against Robotic FX—Much of Record Sealed”

Mass Biotech Council COO Resigns

With an ethics investigation of its recently named president still pending, the Massachusetts Biotechnology Council lost its second in command, chief operating officer Mark Robinson. The COO resigned to work for the American Academy of Arts and Sciences, according to the Boston Business Journal.

Where Do You Want to Go Today? uLocate Can Help You Decide

Though it was more or less accidental, it’s been Location-Based Computing Week at Xconomy. We kicked off the week with a story Monday about EveryScape, which has introduced a database of amazing 360-degree views of streetscapes and building interiors from four U.S. cities. On Wednesday we told you about Untravel Media, which sells a series … Continue reading “Where Do You Want to Go Today? uLocate Can Help You Decide”

$44 Million in Venture Deals for Massachusetts Firms; HemaQuest and Virtual Iron Lead the Way

It’s a big day for Massachusetts startups, with the news that four local companies have secured some $44 million in venture financing. Three were biotech firms, and virtualization specialist Virtual Iron, perhaps riding the wave of VMware’s big IPO, was the lone IT firm. Topping the list of fund-raisers was HemaQuest Pharmaceuticals of Newton. The … Continue reading “$44 Million in Venture Deals for Massachusetts Firms; HemaQuest and Virtual Iron Lead the Way”

Xconomy Gala Launch Fete Rips It Up at the Broad Institute; Staff Parties So Hard We Forgot to Write This Morning’s Story

A crowd of nearly 300 people from all walks of innovation sashayed through the Broad Institute lobby and auditorium for Xconomy’s Gala Launch party last night. Founders of billion-dollar corporations, Nobel Prize winners, CEOs of public companies and startups alike, angel investors, venture capitalists, professors, students, legal and management execs, and scores of entrepreneurs in … Continue reading “Xconomy Gala Launch Fete Rips It Up at the Broad Institute; Staff Parties So Hard We Forgot to Write This Morning’s Story”

Team MIT Squeaks Into Robot Car Finals

It wasn’t a shoo-in, according to MIT professor of aeronautics and astronautics Jonathan How. But Team MIT learned this afternoon that it has won a qualifying berth in the DARPA Urban Challenge finals on Saturday, when observers will learn which competing institution’s autonomous vehicle is best at navigating a complex mock-city environment replete with moving … Continue reading “Team MIT Squeaks Into Robot Car Finals”

EMC to Invest $1 Billion in China

Hopkinton, MA’s EMC (NYSE: [[ticker:EMC]]) announced today that it is doubling its planned investments in China, to a total of some $1 billion over the next five years. The storage giant said the funds will go toward “expanding [its] R&D operations, growing its partner community, strengthening its sales and service capabilities and more effectively serving … Continue reading “EMC to Invest $1 Billion in China”

Glaxo Wins Round One in Lawsuit Against the U.S. Patent Office—Early Victory for Biotech and Pharma

Talk about the eleventh hour. At the last possible moment, a federal district court in Alexandria, VA, handed down a ruling yesterday evening that—at least for now—blocks new U.S. Patent Office rules that had been scheduled to take effect today: November 1, 2007. The new rules would have, among other things, made it harder for … Continue reading “Glaxo Wins Round One in Lawsuit Against the U.S. Patent Office—Early Victory for Biotech and Pharma”

SoundBite Prices IPO Well Below Expectations in Wake of Patent Claims

Just a couple weeks after an eleventh-hour patent-infringement claim delayed its planned IPO, SoundBite Communications (NASDAQ: [[ticker:SDBT]]) has priced the deal well below initial projections. Expectations of the offering had been high, with the Bedford, MA, automated voice messaging firm projecting a price of $12-14 for 6 million shares and observers looking for the deal … Continue reading “SoundBite Prices IPO Well Below Expectations in Wake of Patent Claims”

E Ink’s Electronic Paper Displays See Gradual Growth, New Competition

The digital revolution hasn’t changed the fact that new printing technology spreads slowly. Johannes Gutenberg, for example, first used metal movable type to publish his famous Bible in 1455, but it wasn’t until 1480 or so that letterpress printing became widespread in Europe, and England didn’t get its first printing press until 1489. The folks … Continue reading “E Ink’s Electronic Paper Displays See Gradual Growth, New Competition”

Boston Scientific Loses Patent Infringement Suit

A jury in U.S. District Court in San Francisco yesterday found that Boston Scientific (NYSE:[[ticker:BSX]]) infringes a patent for balloon catheter technology held by Johnson & Johnson subsidiary Cordis Corp. Boston Scientific said it believes the finding is in error and that it will seek to have it overturned.

Nomir to Microbes: We’re Out to Get You

In a town like Boston, where so many new companies are churned out, assembly-line style, by the same universities, serial entrepreneurs, consulting firms, and venture investors, it’s refreshing to find a startup that hews more closely to the classic (if largely mythical) formula of lone inventor plus fortuitous discovery plus cash from some wealthy individuals … Continue reading “Nomir to Microbes: We’re Out to Get You”

Iron Mountain Buys Stratify for $158 Million

Stratify, which sells electronic discovery software to law firms and large corporations, has agreed to be purchased by Boston-based document storage and data protection company Iron Mountain for $158 million in cash, the two companies announced today.  Founded in 1999, Stratify is based in Mountain View, CA, and has received venture funding from Mobious Venture … Continue reading “Iron Mountain Buys Stratify for $158 Million”

Genzyme CEO Nets $9.3 Million From Options

In the past few days, Genzyme CEO Henri Termeer exercised options worth about $15.4 million on the open market, netting some $9.3 million from the series of transactions, according to a form filed with the SEC today. From the filing, it looks like that leaves Termeer owning some 631,000 shares directly, and no more options. … Continue reading “Genzyme CEO Nets $9.3 Million From Options”

Zipcar To Share Ride With Flexcar

Zipcar, the Cambridge-based car sharing service, announced today that it will merge with Flexcar, a Seattle firm whose main owner is Revolution, a Washington, DC, investment company founded by ex-AOL Time Warner Chairman Steve Case. Zipcar is the world’s largest car sharing provider, with 120,000 members in more than 35 cities, according to the company’s … Continue reading “Zipcar To Share Ride With Flexcar”

Click and Clack Say Technology is Poised to Meet 35 MPG Fuel Standards, Urge Congress Not to Heed Auto Industry’s “Fuel-Mongering Bull-Feathers”

Boston doesn’t have an auto technology cluster, but it’s big on cleantech—and it also has Tom and Ray Magliozzi, better known as Click and Clack, the Tappet brothers. And who should know how cleantech and cars come together better than the proprietors of Cambridge’s Good News Garage and hosts of NPR’s Car Talk show? Not … Continue reading “Click and Clack Say Technology is Poised to Meet 35 MPG Fuel Standards, Urge Congress Not to Heed Auto Industry’s “Fuel-Mongering Bull-Feathers””

EMC and Voyence: Swallowing a Spider to Catch A Fly

EMC (NYSE: [[ticker:EMC]]), the Hopkinton, MA-based provider of networked storage hardware and software, needs to focus on internal innovation rather than acquiring outside companies to grow its product lines, insider Mark Lewis argued in a keynote speech at EMC’s inaugural innovation conference earlier this month. But as Lewis also informed his audience, EMC’s acquisition quest … Continue reading “EMC and Voyence: Swallowing a Spider to Catch A Fly”

Local Companies Push to Save GINA and Advance Personalized Medicine

It passed the House by a vote of 420 to 3, President Bush is for it, and it has fervent supporters on both sides of the political aisle—but even that didn’t save the Genetic Information Non-Discrimination Act (GINA or S. 358) from unexpectedly stalling in the Senate last spring. Now, to try and get it … Continue reading “Local Companies Push to Save GINA and Advance Personalized Medicine”

Mobile and Interactive in Boston: On the Run with Untravel and Urban Interactive

For a high-tech Halloween treat, check out three new multimedia walking tours of Boston and Salem, MA, set to be published today by Untravel Media. The “Creeping Through Boston” tours, which can be downloaded to iPhones, video iPods, and most smart phones, include a walk through the dark back alleys and hidden passageways of downtown … Continue reading “Mobile and Interactive in Boston: On the Run with Untravel and Urban Interactive”