Struggling Seattle biotech Targeted Genetics today reported a fourth quarter loss of $10.8 million, more than double its loss for the same period in 2007. Revenues also declined to $2.2 million, with the company noting that it only has enough cash on the books to fund operations through June. The company said that it expects the stock -- which has traded below $1 for the past year -- to be delisted from the Nasdaq.
AuBeta Networks, a 9-year-old Seattle company that provided wide area network services to restaurants and retailers, has hit hard times and is in the process of selling its assets to Telekenex. In a letter to customers earlier this month, AuBeta CEO Ethan Hernandez apologized for service disruptions and said that the company is transitioning operations to San Francisco-based IP service provider Telekenex.
Amazon.com is marking the 3rd anniversary of its Simple Storage Service (S3) with a 3-month discount. The company is offering data transfer into S3 for 3 cents per GB (as opposed to the standard 10 cents per GB) between April and June. S3 -- one of Amazon's first cloud services -- now stores over 52 billion objects, according to the company.
Pathway Medical, a Kirkland maker of medical equipment for the treatment of peripheral arterial disease, has announced a $40 million venture deal with participation from Forbion Capital Partners, HLM Venture Partners, Latterell Venture Partners and others.
Seattle iPhone application development studio Zero260, a Madrona-backed startup that we wrote about earlier this month, officially launched its PhotoFeedd, TravelFeed and CarFeedd applications today. The company says the applications allow people to share photos of travel adventures, automobiles and other experiences in less than a minute. The company is led by startup veteran David Bluhm, formerly of HandsOn Mobile, 2Way and GoTV Networks.
Nintendo of America president Reggie Fils-Aime talks about the iPhone, the Wii controller, new games and whether its own games dominate its consoles in a lengthy interview with VentureBeat.
Genzyme will pay between $75 million and $100 million to purchase the Seattle area factory where Leukine is produced, as part oof a larger deal with Bayer AG, reports Xconomy.
Google Ventures launches with plans to invest $100 million.
Firefox 3 is gaining browser share in Europe, according a report by Reuters based on data from StatCounter. The Web analytics firm said that Firefox 3 had 35.05 percent of the market, which compared to 34.54 percent for Microsoft Internet Explorer 7. Firefox is now just 10 percentage points behind all version of IE, the report said.
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