dendreon

Dendreon shares sink after plant closure, restructuring

Dendreon, the once-promising Seattle biotechnology company, is taking it on the chin today after announcing a restructuring that will cost more than 600 people their jobs; the closure of its manufacturing facility in Morris Plains, New Jersey and other cost-cutting measures. “This restructuring sets a new course forward for Dendreon, accelerating our path to profitability and… Read More

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Tech Moves: Captura co-founder joins Point Inside; ISB; Cypress; Intrepid; etc.

Point Inside, a Seattle startup that specializes in mapping indoor spaces, has named technology veteran Corey Mandell as CTO. Mandell most recently served as senior vice president of product engineering at Kaseya Inc.  At Point Inside, he will lead development and technical operations. “Point Inside is leading the new generation of mobile shopper engagement with indoor location… Read More

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Can ultrasound reduce blood pressure? Kona Medical lands $30M to find out

The Seattle area continues to be a hotbed of innovation in the field of ultrasound technology, with news today that Kona Medical has attracted a $30 million round of venture capital financing. The Bellevue company, which is developing methods to reduce high blood pressure using ultrasound, is backed by Essex Woodlands, Domain Associates, Morgenthaler Ventures and… Read More

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Kineta, UW receive biodefense grant to study ways to wipe out deadly viruses like Ebola

The University of Washington, University of Texas Medical Branch and Kineta — a Seattle biotechnology upstart — have received an $8.1 million grant from the National Institute of Allergy and Infectious Diseases to develop drugs to combat Ebola, Marburg, Japanese encephalitis and other deadly diseases. “This award enables us to push further and work with more high… Read More

alder-bio

Alder BioPharma raises $38M for cancer, migraine research

In one of the largest venture capital rounds in the state so far this year, Bothell’s Alder BioPharmaceuticals has raised $38 million to support ongoing research for its cancer and migraine headache treatments. Investors in the deal include Novo Ventures, Sevin Rosen Funds, Ventures West, WRF Capital, H.I.G. Ventures, Delphi Ventures and TPG Biotech. As a result… Read More

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Tech Moves: RealNetworks VP joins Amazon’s Kindle team; etc.

Another day, another executive departure from RealNetworks. Yesterday, we reported that chief financial officer Michael Eggers — a 14-year veteran of the company — was stepping down. Now, we’ve gotten word that Simon Poile has left the digital media company to become director of software development for Amazon.com’s Kindle Store. Poile worked at RealNetworks for… Read More

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MicroRNA startup Groove Biopharma scores $6 million

It’s been a bit slow in Seattle venture capital circles in the past few months. But some of the region’s leading biotech investors are doing their part to pick up the pace as Groove Biopharma today is announcing $6 million in second round of financing. Backers of the company, housed at the biotech business incubator… Read More

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Venture capitalist Thong Le tapped as chair of biotech group

Thong Le, the managing director of WRF Capital, has been named chairman of the Washington Biotechnology and Biomedical Association. Le was named vice chairman of the state’s leading biotechnology lobbying group in January, and assumed the new position from outgoing chairman Tom Clement recently. Le will remain employed at WRF Capital, a Seattle venture capital… Read More

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Theraclone Sciences raises $10M

Theraclone Sciences, a Seattle biotechnology company that’s developing a method to rapidly identify disease-fighting antivbodies, has attracted $10.6 million. Investors in the deal include ARCH Venture Partners, Canaan Partners, MPM Capital, Healthcare Ventures, Alexandria Real Estate Equities, Amgen Ventures and Zenyaku Kogyo “The anticipated near-term initiation of Theraclone’s first clinical trial and our discovery collaboration with Pfizer earlier… Read More

alloyzoyne

Allozyne, Poniard to merge

Big news today in Seattle’s biotech industry. Seattle biotechnology upstart Allozyne has entered into a merger agreement with San Francisco’s Poniard Pharmaceuticals, the companies announced today. As part of the deal, the combined company plans to focus efforts on Allozyne’s emerging autoimmune products. Allozyne’ shareholders — including MPM Capital, Arch Venture Partners and OVP Venture Partners – will… Read More

Weissman

Accelerator Corp. hatches Oncofactor, a new Seattle cancer research startup

Accelerator Corp. has backed its 12th startup, a cancer research company that’s attempting to disrupt signaling pathways between tumors and the immune system. Dubbed Oncofactor, the company is just getting off the ground. But investors, including Carl Weissman of the biotech incubator Accelerator and Chad Waite of OVP, are bullish on the concept. “The Oncofactor technology platform… Read More

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Software maker Geospiza acquired by PerkinElmer

Geospiza, a Seattle maker of gene analysis software, has been acquired by PerkinElmer in a deal of undisclosed size. The company was founded in 1997 and led by Rob Arnold, a former executive at Crossport Systems and ST Labs. PerkinElemer, with annual revenue of $1.7 billion and more than 6,200 employees, said that the acquisition… Read More

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HIV drug maker Koronis considers IPO in London

We’ve bemoaned the fact that very few Seattle area companies are considering initial public offerings. But Koronis Pharmaceuticals, a Seattle company led by venture capitalist Donald Elmer, is positioning for an IPO in London either this year or next, Reuters reports. It would be a modest amount. Elmer tells Reuters that the company needs about… Read More