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Friday, September 9, 2005

Technology Briefing

REGIONAL NEWS

Teranode of Seattle raises $9.5 million in VC funding

Seattle-based Teranode has raised $9.5 million in venture capital financing in a deal led by Cargill Ventures and Trident Capital. Existing investors -- Ignition Partners and WRF Capital -- also participated.

Teranode, which will use the funds for marketing and product development, makes software that helps scientists better design and automate laboratory experiments. Its products have been used by Pfizer, AsraZeneca and the Fred Hutchinson Cancer Research Center. It is led by Joe Duncan, a former executive at Critical Path, Oracle and the University of Washington's Cell Systems Initiative.

Nastech Pharmaceutical says its CFO has resigned

Gregory Weaver, chief financial officer of Nastech Pharmaceutical Co. Inc., has resigned, the Bothell biotechnology company says. It said Philip Ranker, vice president of finance, will serve as the interim chief financial officer. Bruce York will become interim chief accounting officer. He had served as senior director of accounting and corporate controller.

Technology Briefing is written by P-I reporters Todd Bishop, John Cook and Dan Richman. Send comments to johncook@seattlepi.com. This report includes information from The Associated Press and Bloomberg News.
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