Resolve Therapeutics, a 2-year-old Seattle biotechnology spin off from the University of Washington, has raised $5.8 million in new financing from New Science Ventures, WRF Capital and Easton Capital. The company will use the funds to continue to develop therapeutics for the treatment of Lupus, a life-threatening autoimmune disease that affects 1.5 million people in the United… Read More…
Kirkland-based Cardiac Dimensions recently raised $5.8 million in equity, debt and warrants, in order to buy shares from a group of 17 investors, according to a SEC filing and an article on Xconomy. The company, which produces a medical device intended to treat congestive heart failure, got clearance to sell its first product in Europe last… Read More…
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…
Econet, a South Korean investment holding company, has moved two of its nutritional products companies into a new 70,000 square-foot headquarters in Seattle’s Belltown neighborhood at 3005 1st Avenue. The space was previously occupied by biotechnology company Dendreon. Univera and Unigen had been based in Lacey, Washington since 2004, and with the move to Seattle… Read More…
DNA analysis allows scientists to dig deep into one’s genetic makeup, discovering if an individual is predisposed to a certain disorder or disease. While advances around DNA analysis have allowed scientists to more quickly analyze one’s DNA, a Seattle startup by the name of Spiral Genetics believes it can do it even faster and cheaper Scientists come… Read More…
VLST Corp., a Seattle biotech developing therapeutics for the treatment of autoimmune and inflammatory diseases, has raised an additional $5 million in venture capital financing, according to a SEC filing today. The company could raise another $10 million in the round, according to the filing. Backers of the company — incubated at the Accelerator Corp…. Read More…
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…
Microsoft co-founder Paul Allen is doubling down on his efforts to better understand the human brain, announcing plans today to donate $300 million to the Allen Insitute of Brain Science. That brings total fundraising in the 9-year-old non-profit scientific organization to $500 million, one of the largest philanthropic commitments ever to fund neuroscience. In a… Read More…
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…
One of the biggest success stories of 2011 was the sale of David Giuliani’s Pacific Bioscience Laboratories — the maker of the Clarisonic skin cleansing device — to L’Oréal USA. Now, another Seattle upstart is hoping that it can follow in the footsteps of Clarisonic. It’s called JeNu Biosciences, and it just scored $1.5 million in… Read More…
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