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Innovative Pulmonary changes name, raises $10M and moves to Minnesota

Innovative Pulmonary Solutions has a new name, a new round of cash and a new headquarters. The medical device company announced today that it has changed its name to Holaira and opened a new headquarters in Plymouth, Minnesota. It also raised $10 million from existing investors, including Advanced Technology Ventures, Morgenthaler Ventures, Split Rock Partners, and… Read More

Michelle Burriss

OncoGenex finance chief resigns after ‘personal relationship’ develops with CEO

Michelle Burris, the chief financial officer at Bothell biotechnology company OncoGenex Pharmaceuticals, has resigned from her post after disclosing a “developing personal relationship” with CEO Scott Cormack. After the relationship was disclosed to the board, the company determined that Burris should hand over her executive duties to others in the company. She will continue to serve… Read More

nanostring

NanoString lands $15.3M for genetic analysis system

NanoString Technologies continues to rake in new capital, announcing today that it has raised $15.3 million from Morgan Stanley Expansion Capital and AllianceBernstein Alternative Investment Management Group. Existing investors, including Clarus Ventures, Draper Fisher Jurvetson, OVP Venture Partners, GE healthymagination Fund and BioMed Ventures, also participated in the financing. The deal follows a $20 million financing round… Read More

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Resolve Therapeutics lands $5.8M to crack the code on Lupus

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

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Cardiac Dimensions raises $5.8M, sets sights on Europe

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

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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Nutritional products firm opens new Seattle headquarters

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

CEO Adina Mangubat

Startup Spotlight: Spiral Genetics offers software to help scientists analyze DNA

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

Biotech startup VLST raises $5M

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

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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

Paul Allen

Microsoft co-founder Paul Allen donates $300M to help solve the mysteries of the human brain

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

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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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Uptake Medical raises cash for novel emphysema treatment

Uptake Medical, which is developing new medical device technologies to treat emphysema, has raised $35 million of a $41 million venture capital round, according to a SEC filing. Unfortunately, the big financing won’t be counted toward Washington state’s venture capital totals. That’s because Uptake Medical moved its headquarters to southern California earlier this year. It continues… Read More

Jeff Bezos

Amazon founder and brainiac Jeff Bezos donates $15 million to Princeton Neuroscience Institute

Microsoft co-founder Paul Allen isn’t the only Seattle billionaire interested in the study of the brain. Amazon.com founder Jeff Bezos today announced that he’s donating $15 million to the Princeton Neuroscience Institute, creating what will be called the Bezos Center for Neural Circuit Dynamics. Bezos and his wife, MacKenzie, graduated from Princeton with honors. The new… Read More

nanostring

NanoString lands $20 million

NanoString Technologies, a maker of genomic analysis tools, has raised $20 million in venture capital financing in a deal led by GE, BioMed Ventures and former Genzyme CEO Henri Termeer. Existing investors Clarus Ventures, Draper Fisher Jurvetson and OVP Venture Partners also participated. The money will be used to grow the company’s life sciences tools business,… Read More

immunex

Biotech veteran Henney inducted into Hall of Fame

Biotech pioneer Christopher Henney has been inducted into the industry’s Hall of Fame, with the announcement made at the annual Biotech CEO Meeting in Laguna Beach, California. Henney is credited with co-founding Immunex, Dendreon and Icos, three of the most important biotechnology companies to emerge in the Seattle area in the past 30 years He… Read More

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Ultrasound on the go? Smartphone-based imaging system released by Mobisante

Ultrasound systems can be bulky and expensive. But a Redmond company by the name of Mobisante is looking to transform the industry with a new technology that turns a smartphone into a miniature ultrasound device. Mobisante is expected to begin selling the $7,495 ultrasound attachment this month, with BusinessWeek noting that some top-end portable ultrasound… 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

calypso

Calypso’s GPS system for tumor tracking acquired for $10M

Calypso Medical Technologies, a Seattle company which has developed a system to pinpoint tumors in the body, has been acquired for $10 million by Varian Medical Systems of Palo Alto, California. The deal also is subject to earn-out provisions based on unit sales of the Calypso medical device over the next 30 months. Nonetheless, the… Read More

rf

RF Surgical raises $12 million to detect lost surgical sponges

RF Surgical Systems has raised $12 million, money that the Bellevue company will use to enhance its RFID technology for locating surgical sponges that doctors inadvertently leave behind during medical procedures. Investors in the round include Split Rock Partners, Menlo Ventures and Stanford University. The company released its RF Assure Detection System in November 2010, and since… 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

amnis

Cell imaging company Amnis acquired by EMD Millipore

Amnis, a 12-year-old Seattle company which provides high-speed cell imaging instruments, has been sold to EMD Millipore for an undisclosed price. EMD is a division of Merck KGaA of Germany, and the company plans to use the technology to grow its presence in the market for image flow cytometry. Led by co-founder and CEO David… Read More