Is conventional equity funding for innovation in the life sciences industry truly a viable strategy for private equity and venture capital firms, or is it all just a house of cards? Against a backdrop that includes some local criticism of Big Pharma’s hardball buyout tactics, the San Diego Venture Group has organized a debate on … Continue reading “Point – Counterpoint: Is Life Sciences Innovation a Fundable Future or Financial Flop?”
Genentech Eye Drug, Under Scrutiny, Passes Study in Diabetic Patients to Open Up New Market
Genentech put out some good clinical trial news today which suggests it has a chance to expand the market of its franchise drug for eye diseases, right at the moment the drug is facing a lot of pressure. The South San Francisco-based unit of Roche said today that its targeted drug for eye diseases met … Continue reading “Genentech Eye Drug, Under Scrutiny, Passes Study in Diabetic Patients to Open Up New Market”
TechStars Takes Off, Jumptap Touts Patents and Partnerships, & Other Tech Tidbits Around Town
There were a number of tech developments this week that I didn’t get a chance to digest yet. That’s in part because I couldn’t eat solid food for, like, two days. Let’s just move on. —As one incubator class (Y Combinator) wrapped up its session on the West Coast, another one got started here on … Continue reading “TechStars Takes Off, Jumptap Touts Patents and Partnerships, & Other Tech Tidbits Around Town”
In-App Billing Coming to Android
For some time, users of Apple’s iPhone, iPod touch, and iPad devices have had the ability to make purchases from within mobile apps (allowing them to buy individual issues of a digital magazine, for instance). Google announced on its Android Developers Blog yesterday that this same capability will soon be available for apps sold through … Continue reading “In-App Billing Coming to Android”
ServiceSource Raises $111M in IPO
San Francisco-based ServiceSource (Nasdaq: [[ticker:SREV]]), which helps technology companies renew maintenance, support, and subscription agreements, raised at least $111 million in an initial public offering on the Nasdaq exchange yesterday. The company sold at least 11.9 million shares at $10 each, somewhat above the expected range of $7.50 to $9.00 per share. Morgan Stanley and … Continue reading “ServiceSource Raises $111M in IPO”
The Lean LaunchPad at Stanford—Class 3: Value Proposition Hypotheses
The Stanford Lean LaunchPad class was an experiment in a new model of teaching startup entrepreneurship. This post is part three. Part one is here, two is here. Syllabus is here. Week 3 of the class and our teams in our Stanford Lean LaunchPad class were hard at work using Customer Development to get out … Continue reading “The Lean LaunchPad at Stanford—Class 3: Value Proposition Hypotheses”
Caxton Advantage to Raise $150 Million
New York-based Caxton Advantage Life Sciences Fund plans to raise $150 million for a second fund later this year, according to a Dow Jones VentureWire report. The company’s first fund, formed in 2006 by Lehman Bros. veterans Eric Roberts and A. Rachel Leheny, has invested $150 million in a collection of private and public companies … Continue reading “Caxton Advantage to Raise $150 Million”
“Consumer Surplus” from Personal Technology Is Soaring in the Age of Appreciation
It used to be that purchases began depreciating in value the moment you bought them. A new car, for example, might as well come with a little Kelley Blue Book countdown under the odometer showing its declining resale price. Indeed, the idea that property depreciates is so universal that it’s built into our accounting methods … Continue reading ““Consumer Surplus” from Personal Technology Is Soaring in the Age of Appreciation”
SV Feels Lonely at the Top, Canaan Finds Biotech Groove, Portola Gets Drug Back, & More in Bay Area Life Sciences News
This week seemed like as good a time as any to run a couple features on biotech VCs who are seeking to stay relevant as their business faces a serious identity crisis. —SV Life Sciences, the $2 billion diversified healthcare fund with offices in San Francisco, Boston, and London, is feeling pretty flush with a … Continue reading “SV Feels Lonely at the Top, Canaan Finds Biotech Groove, Portola Gets Drug Back, & More in Bay Area Life Sciences News”
San Diego’s Ligand Takes Advantage of the Great Recession to Build New Drug Pipeline
Aside from the name, there isn’t much at Ligand Pharmaceuticals (NASDAQ: [[ticker:LGND]]) that resembles the San Diego biotech that went public in 1992. During the 15 years that followed its IPO, Ligand brought five drugs to market, reported 2005 sales of more than $176 million, and once employed 650 people. The same company posted annual … Continue reading “San Diego’s Ligand Takes Advantage of the Great Recession to Build New Drug Pipeline”
Alnylam Sued By Tekmira, Curis Cancer Drug Shows Results, Still River Gets $11.5M, & More Boston-Area Life Sciences News
We had plenty of headlines from New England area drug companies this week, with news of clinical trial results, technology developments, lawsuits, and funding. —The FDA set April 28 as the date that an advisory committee will meet on Cambridge, MA-based Vertex Pharmaceuticals’ (NASDAQ: [[ticker:VRTX]]) application for approval of telaprevir, its experimental drug for hepatitis … Continue reading “Alnylam Sued By Tekmira, Curis Cancer Drug Shows Results, Still River Gets $11.5M, & More Boston-Area Life Sciences News”
Thinkfuse Garners $500,000 New Funding Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=e5374aea-0ea6-453f-9dfc-519b5ac0db7b&Preview=1 Date 3/25/2011 Company Name Thinkfuse Mailing Address Undisclosed Seattle, WA 98104 Company Description The company operates a website and service that allows users to create status reports more easily. Website http://www.thinkfuse.com Transaction Type Venture Equity Transaction Amount $500,000 Transaction Round Undisclosed Proceeds Purposes Proceeds purposes were not disclosed. The company is … Continue reading “Thinkfuse Garners $500,000 New Funding Round”
AssureRX Health Secures $11,000,000 Series B Funding
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=fb5c0ce1-d9b1-4c5e-853b-59b0760428f4&Preview=1 Date 3/25/2011 Company Name AssureRX Health Mailing Address 7264 Columbia Road Mason, OH 45039 Company Description Cincinnati-based AssureRx Health, Inc. is a personalized medicine company which specializes in pharmacogenetics and is dedicated to helping physicians determine the right drug at the right dose for individual patients suffering from medical conditions. Website … Continue reading “AssureRX Health Secures $11,000,000 Series B Funding”
LocaModa Receives $1,500,000 New Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=05265da7-94b9-44d9-80f7-62a836b0e02b&Preview=1 Date 3/25/2011 Company Name LocaModa Mailing Address 160 Sidney St. Cambridge, MA 02139 Company Description LocaModa turns screens that people normally ignore into screens they can’t resist. By connecting digital networks with social media and mobile messaging, we enable over 100,000,000 people a month to interact with their environments in thousands … Continue reading “LocaModa Receives $1,500,000 New Financing Round”
Voxel Receives $5,500,000 Series A Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=00be3b18-5f74-43bf-8f56-26b4d04e9f84&Preview=1 Date 3/25/2011 Company Name Voxel Mailing Address 29 Broadway 30th Floor New York, NY 10006 Company Description Voxel delivers high-performance Internet infrastructure that is scalable, fully supported and cost-effective. The company offers industry-leading hosting services via VoxSTRUCTURE, its open automation platform, and its unique Universal Transfer bandwidth aggregation model. Website http://www.voxel.net … Continue reading “Voxel Receives $5,500,000 Series A Round”
Amazon: Feds OK Diapers.com Deal
Amazon.com (NASDAQ: [[ticker:AMZN]]) said Thursday that government regulators have approved its purchase of New Jersey-based Quidsi, the parent company of Diapers.com and other online retail brands. Amazon announced last November that it would purchase Quidsi for $500 million in cash, along with assuming about $45 million in debt. The companies said at the time that … Continue reading “Amazon: Feds OK Diapers.com Deal”
Healthcare Experience Design Conference
This conference aims to spotlight how design technology in healthcare can better improve health and wellness, in the areas of medical devices, human services, and Web applications. Speakers come from academia, design firms, healthcare companies, and more. Register here.
Takeaways from SXSW Interactive 2011: Winners, Losers, and a Remainder
The biggest challenge for a company at SXSW Interactive is getting noticed. Now drawing 17,000 registrants and with heavy-hitting corporate sponsors, there are plenty of companies that come to the event and spend plenty of dollars. With so much going on, the winner is the company that can turn heads and get people talking during … Continue reading “Takeaways from SXSW Interactive 2011: Winners, Losers, and a Remainder”
Southwest Michigan First Life Science Fund Seeks Additional Firepower
The Southwest Michigan First Life Science Fund (SWMF) is close to completing an add-on round of financing to bolster its original $50 million fund. Managing director Pat Morand said he expects to announce something in a month or two. Though Morand declined to disclose the size of the add-on, he said it would be at … Continue reading “Southwest Michigan First Life Science Fund Seeks Additional Firepower”
Canaan Strings Together Some Good News, Just as the Pressure Mounts on VC Model
Every time I walk into a venture capitalist’s office these days, I essentially ask a polite but pointed variation of the same question, which boils down to this: Are you toast? Or are you becoming toast? Luckily for the folks at Canaan Partners, they have had some incremental good news from their portfolio, which suggests … Continue reading “Canaan Strings Together Some Good News, Just as the Pressure Mounts on VC Model”
In-NOW-Vation 2011 Technology Showcase and Celebration
This is a competition disguised as a cocktail party, where attendees will vote on the competing companies for some quirky prizes. Those that have entered to exhibit so far include Aisle Buyer, CustomMade, Architexa, and HeyWire. Register here.
Energy Breakfast Seminar: Innovation, Technology and Sustainable Design
This breakfast panel will take a look at the design elements and technology that enable buildings to go greener, like smart meters and LEDs. Register here.
$41M for Color’s Photo App
Palo Alto, CA, startup Color, founded by Lala.com creator Bill Nguyen, has raised $41 million in venture financing from Sequoia Capital, Bain Capital, and Silicon Valley Bank for a new photo-sharing app for the Apple iPhone and Android phones. The Web has been ablaze with chatter over the startup and the size of the round since … Continue reading “$41M for Color’s Photo App”
A 2011 Tool Kit for Savvy Cleantech Investors
2010 was a banner year for U.S. cleantech investment and M&A deals. The 371 mergers, acquisitions and capital-raising transactions in 2010 were a record high. The aggregate transaction volume was $14.7 billion—55 percent higher than 2009. Cleantech funding rose 65 percent, to $10.1 billion from $6.1 billion in 2009. Large-scale wind, solar and geothermal projects … Continue reading “A 2011 Tool Kit for Savvy Cleantech Investors”
As Cyber Threats Mature, So Do Boston-Area Security Firms: RSA, Fidelis, Cyber-Ark, and More
Sometimes what’s bad for companies is good for business. That’s the case for a number of Massachusetts security software firms. These days, the Boston area seems to have renewed its claim as an epicenter of cyber security activity. In the wake of the recent, much-publicized cyber attack on RSA Security, a division of Hopkinton, MA-based … Continue reading “As Cyber Threats Mature, So Do Boston-Area Security Firms: RSA, Fidelis, Cyber-Ark, and More”
InsideView Picks Up $12M
San Francisco-based InsideView, which helps companies gather sales intelligence from social media channels and other sources, said today that it has raised $12 million in Series C Funding from Foundation Capital, Emergence Capital Partners, Rembrandt Venture Partners, and Greenhouse Capital Partners. In a blog post, the company said it will use the new funds to … Continue reading “InsideView Picks Up $12M”
Mahaffey Succeeds Dobak as Lithera CEO
San Diego-based Lithera has named George Mahaffey as CEO, succeeding founder John Dobak, who has served as chief executive since the company started in 2007. Lithera is developing a new injectable compound designed to locally reduce selective fat tissue. Mahaffey, who previously served as the CEO of Peplin, will join Lithera’s board and Dobak will … Continue reading “Mahaffey Succeeds Dobak as Lithera CEO”
ITherX Repurposes Kemia Drug
San Diego’s ITherX Pharmaceuticals has begun enrolling liver transplant patients in an early stage hepatitis C trial that seeks to repurpose a drug that was initially under development for treating inflammation. ITherX, with backing from Easton Capital and others, acquired the experimental compound from San Diego-based Kemia in 2009 for $75,000, according to VentureWire. In … Continue reading “ITherX Repurposes Kemia Drug”
February Freeze: Massachusetts Startup Funding Shrinks to $130.9 M
How far the mighty fall. Investments in Massachusetts startups soared to $242.5 million in January, but last month tech and life sciences companies raised just over half that, $130.9 million, in 24 equity-based deals, according to data provided by CB Insights’ FundingFlash, a daily roundup of companies receiving venture capital, angel investment, and growth equity … Continue reading “February Freeze: Massachusetts Startup Funding Shrinks to $130.9 M”
Drugstore.com, Veteran of the Dot-Com Bust, Grabbed by Walgreens in $429M Deal
Bellevue, WA-based drugstore.com is being scooped up by Walgreens, the nation’s largest drugstore chain, for $429 million in cash. Deerfield, IL-based Walgreens (NYSE: [[ticker:WAG]]) said it would maintain drugstore.com’s headquarters and a separately branded website. Drugstore.com (NASDAQ: [[ticker:DSCM]]) presently employs about 1,000 people in its offices, distribution centers and call center. The acquisition price of … Continue reading “Drugstore.com, Veteran of the Dot-Com Bust, Grabbed by Walgreens in $429M Deal”
Portola Gets Drug Back From Merck
South San Francisco-based Portola Pharmaceuticals said today that Merck has agreed to return the full commercial rights to betrixaban to Portola. The drug is designed to stop excessive blood clotting to prevent strokes in patients with an abnormal heartbeat known as atrial fibrillation. Merck said it made the decision to part ways with the drug … Continue reading “Portola Gets Drug Back From Merck”
PerkinElmer Agrees to Buy CambridgeSoft
PerkinElmer (NYSE:[[ticker:PKI]]), the Waltham, MA-based provider of products and services focused on the health and safety of people and the environment, said today that it has inked a definitive agreement to acquire CambridgeSoft of Cambridge, MA. In related news, PerkinElmer has completed its buyout of ArtusLabs, based in Research Triangle Park, NC. PerkinElmer says that … Continue reading “PerkinElmer Agrees to Buy CambridgeSoft”
$2M for SensAble Technologies
Wilmington, MA-based SensAble Technologies, a maker of 3D modeling and haptic systems, has raised $2 million of a planned $6 million equity round of financing, according to an SEC filing. In March 2010, the company said it raised $8 million in a financing that included HLM Venture Partners and North Bridge Venture Partners. That funding … Continue reading “$2M for SensAble Technologies”
Y Combinator’s Winter 2011 Demo Day: The Definitive Debrief
The Y Combinator venture incubator program, now finishing its sixth year, seems intent on growing until it breaks. And in fact, it may be reaching that point already. There were 43 companies in the Y Combinator Winter 2011 (YC W11) batch; that’s nine more than the Summer 2010 class, and one side effect was that … Continue reading “Y Combinator’s Winter 2011 Demo Day: The Definitive Debrief”
Topera Maps Abnormal Currents of the Heart, Novalar Plans Shutdown, New Verenium CEO Drafts Strategy, & More San Diego Life Sciences News
San Diego’s life sciences community took two steps forward last week, as two new startups stepped into the light with new medical device technologies, and then one step back with the closure of another company founded in 2000. We have all the latest moves for you, plus a lot more. —San Diego’s Topera Medical, which … Continue reading “Topera Maps Abnormal Currents of the Heart, Novalar Plans Shutdown, New Verenium CEO Drafts Strategy, & More San Diego Life Sciences News”
Zaarly’s Wild Ride: Winning a Weekend, Quitting a Job, and the $100 Midnight Cheeseburger
People have paid good money to hear Eric Koester‘s advice about running a startup. One of his cardinal rules: Don’t go into business with people you don’t know very well. “Founders—it’s like marriage. You’re basically pinning your hopes on each other,” Koester says. So much for that bit of wisdom. This time Koester ignored his … Continue reading “Zaarly’s Wild Ride: Winning a Weekend, Quitting a Job, and the $100 Midnight Cheeseburger”
13 Tips for Getting Help for Your Startup
It takes a village to raise a startup. TechStars, and other mentor-driven accelerators, understand this. Experienced entrepreneurs understand this. Investors understand this. New entrepreneurs often do not understand this; and those new entrepreneurs that do understand it often don’t know who they need in their village or how to work with them once they figure … Continue reading “13 Tips for Getting Help for Your Startup”
SeaGen Strikes Abbott Deal, Omeros Passes Study, Alnylam Fires Back at Tekmira, & More Seattle-Area Life Sciences News
Another week, another deal for Seattle Genetics. This company is clearly on a roll. —Seattle Genetics (NASDAQ: [[ticker:SGEN]]) raked in another $8 million upfront payment this week from a big drugmaker that wants to use its technology for linking targeted antibodies to toxins that make them more potent. This time, Abbott Laboratories shelled out for … Continue reading “SeaGen Strikes Abbott Deal, Omeros Passes Study, Alnylam Fires Back at Tekmira, & More Seattle-Area Life Sciences News”
Chegg, Fending Off Rivals, Overhauls Textbook Rental Site to Include Class Scheduling and Homework Help
Chegg, one of the first movers in the online textbook rental business, has attracted some tough competitors like BookRenter, so it can’t afford to stop innovating. And this week the company is out to show that it hasn’t. The Santa Clara, CA-based startup today unveiled an overhauled website that ties its rental business together with … Continue reading “Chegg, Fending Off Rivals, Overhauls Textbook Rental Site to Include Class Scheduling and Homework Help”
VBI Progressing with Vaccines That Don’t Require Refrigeration
Expect to hear more about the vaccine developer VBI this year. The company has made some progress in addressing a major bugaboo in the vaccine field—the need to keep the vast majority of them at cool or freezing temperatures or risk spoilage. VBI (formerly called Variation Biotechnologies), which moved its headquarters from Canada to offices … Continue reading “VBI Progressing with Vaccines That Don’t Require Refrigeration”
BL Healthcare Obtains $2,015,648 New Funding Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=cdfed2ab-115d-49e8-a8b2-949a798426f3&Preview=1 Date 3/24/2011 Company Name BL Healthcare Mailing Address 33 Commercial St Foxboro, MA 02035 Company Description BL Healthcare began its initial entry into the market in 2006 and today, as we speak, use of open systems, broadband and the internet continue to gain acceptance and grow exponentially. We stand at a … Continue reading “BL Healthcare Obtains $2,015,648 New Funding Round”
PerkinElmer Acquires CambridgeSoft for Undisclosed Sum
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=242b6ec9-6475-4a9a-ab97-659d8bd1b4b4&Preview=1 Date 3/24/2011 Company Name CambridgeSoft Mailing Address 100 Cambridge Park Drive Cambridge, MA 02140 Company Description CambridgeSoft’s products are used primarily in the pharmaceutical, biotechnology and chemical industries, as well as in higher education and in academic and government research. The company’s principal software offering, Chem & Bio Office, which includes … Continue reading “PerkinElmer Acquires CambridgeSoft for Undisclosed Sum”
Total Immersion Receives $5,500,000 New Funding
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=4372fbc8-8b26-41ca-8dcc-7ca7966b56b2&Preview=1 Date 3/24/2011 Company Name Total Immersion Mailing Address 5900 Wilshire Blvd. Los Angeles, CA 90036 Company Description Total Immersion has been focusing on developing the most scalable and reliable Augmented Reality platform and industrialised it for massive rollouts in the Tier 1 consumer market. Our patented software technology, D’Fusion, has been … Continue reading “Total Immersion Receives $5,500,000 New Funding”
Angie’s List Lands $53,599,838 New Funding
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=37e0c4e9-5529-4d98-b9b5-80e0c55f1a7a&Preview=1 Date 3/24/2011 Company Name Angie’s List Mailing Address 1030 E. Washington St. Indianapolis, IN 46202 Company Description Angie’s List is a growing collection of homeowners’ real-life experiences with local service companies. The people who join Angie’s List are like you — looking for a way to find trustworthy companies that perform … Continue reading “Angie’s List Lands $53,599,838 New Funding”
Zoove Obtains $3,000,000 New Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=57890fb5-756b-438c-9f45-23c8f68952a8&Preview=1 Date 3/24/2011 Company Name Zoove Mailing Address 2200 Geng Road Palo Alto, CA 94303 Company Description Zoove is a technology company that gives brands and media properties the power to deliver information to consumers using a variety of mobile data technologies, such as e-mail, SMS, WAP and MMS without the hassle … Continue reading “Zoove Obtains $3,000,000 New Round”
Turiya Media Garners $1,375,000 New Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=d872ed38-6399-4a88-8086-422d5936acc3&Preview=1 Date 3/24/2011 Company Name Turiya Media Mailing Address 525 Brannan St. San Francisco, CA 94107 Company Description The company is developing online game optimization technologies. Website http://www.turiyamedia.com Transaction Type Venture Equity Transaction Amount $1,375,000 Transaction Round Undisclosed Proceeds Purposes Proceeds purposes were not disclosed. SEC regulatory filing. M&A Terms Venture Investor … Continue reading “Turiya Media Garners $1,375,000 New Financing Round”
InsideView Garners $12,000,000 Series C Funding Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=e1edc2b6-0345-4e23-a7dc-625ca98ad3bf&Preview=1 Date 3/24/2011 Company Name InsideView Mailing Address 444 De Haro Street San Francisco, CA 94107 Company Description InsideView was co-founded in 2005 by Umberto Milletti and Richard Horn to address key shortcomings in traditional sales processes. The two founders assembled a team combining outstanding technical, business, sales and marketing expertise. Together, … Continue reading “InsideView Garners $12,000,000 Series C Funding Round”
Padopolis Lands $1,000,000 New Funding Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=4d2b2f3d-664c-422a-bce6-dcca832e9be2&Preview=1 Date 3/24/2011 Company Name Padopolis Mailing Address 650 Market St. Third Floor San Francisco, CA 94105 Company Description The company is developing software for the Apple iPad platform. Website http://www.Padopolis.com Transaction Type Venture Equity Transaction Amount $1,000,000 Transaction Round Undisclosed Proceeds Purposes Proceeds purposes were not disclosed. SEC regulatory filing. M&A … Continue reading “Padopolis Lands $1,000,000 New Funding Round”
Zystor Therapeutics Garners $100 New Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=f87f4a34-b053-4dec-8657-b7c000bd1ff5&Preview=1 Date 3/24/2011 Company Name Zystor Therapeutics Mailing Address 10437 Innovation Drive Milwaukee, WI 53226-4838 Company Description ZyStor Therapeutics, Inc. is a biotechnology company developing innovative therapeutics that will significantly improve the lives of patients who suffer from genetic disorders known as lysosomal storage diseases (LSDs. Website http://www.zystor.com Transaction Type Venture Equity … Continue reading “Zystor Therapeutics Garners $100 New Round”
Tintri Garners $17,000,000 Series B Funding Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=e26b9a36-589d-421c-8c79-e7edaad5abdd&Preview=1 Date 3/24/2011 Company Name Tintri Mailing Address 2570 W. El Camino Real Mountain View, CA 94040 Company Description Tintri’s vision is simple: everything in the data center should be virtualized. Our mission is to drive dramatically increased adoption of virtualization by providing a clearly superior alternative to traditional networked storage adapted … Continue reading “Tintri Garners $17,000,000 Series B Funding Round”