The first quarter was a significant one for ATV portfolio companies. Announcements of strategic acquisitions, top honors, new partnerships, clinical milestones, record growth, new facilities and other achievements have dominated the headlines. 

As for ATV, as always, we're actively investing in emerging companies and exceptional entrepreneurs in the information, energy and healthcare technology markets.  We also continue to support the growth of entrepreneurship through our involvement in organizations such as the New England Clean Energy Council, the MIT $100K Competition, Mass Life Sciences Center, NVCA, and the Renewable Energy Business Network, among others.

PORTFOLIO COMPANIES MAKING NEWS


Catabasis Pharmaceuticals, ATV's newest portfolio company, announced last week that it has secured $39.6 million in Series A funding.  Proceeds from the financing will be used to advance Catabasis’ lead program targeting type 2 diabetes, and to further the development of the company’s proprietary platform technology in additional inflammatory and metabolic diseases.


Acceleron Pharma and Portola Pharmaceuticals, were recently named among the top 50 venture capital-backed companies in the U.S. by The Wall Street Journal. With more than 10,000 privately held, venture-backed companies in the U.S., this is an impressive, well-deserved achievement.

Calisolar has had a tremendous few months. Last week, the company celebrated the grand opening of its Sunnyvale, CA solar cell manufacturing facility. Governor Arnold Schwarzenegger, local officials, invited guests, and company employees were on hand to celebrate the event. In February, Calisolar announced its acquisition of 6N Silicon Inc., an Ontario-based silicon supplier to the solar industry, and that an additional $22.5 million in funding was raised from CaliSolar and 6N investors. And in January, the company was awarded a clean energy manufacturing tax credit of $51.6 million as part of $2.3 billion allocated by the American Recovery and Reinvestment Act.

"Clean technology and companies such as Calisolar are the next wave of innovation that will bring California's economy roaring back. And with incentives such as the sales tax exemption, green companies have another reason to create high-wage jobs and produce clean, renewable energy for our homes and businesses right here in California," said Governor Schwarzenegger."     View the video here.


Oasys Water and Rive Technology were named 2010 GoingGreen 50 winners at the AlwaysOn GoingGreen East Conference held in Boston last month. Hundreds of companies were nominated, from which the 50 winners were selected as leading the clean and green tech revolution. According to Tony Perkins, Editor of AlwaysOn, “ These innovative leaders all have the potential to be ‘the next big thing’ and we are excited to see what the future holds for each of them.”

Coskata this week announced it has closed a new round of equity financing led by French oil major TOTAL, one of the world's largest oil and gas companies.  Proceeds of the financing will support Coskata’s bio-ethanol commercialization activities and ensure continued advancement of new product technologies.  Coskata was also recently named by Technology Review to its new TR50 list of the world's most innovative companies. “The TR50 list represents our selection of companies that show the most impressive innovation in commercializing new technologies,” said Jason Pontin, Editor in Chief and Publisher of Technology Review.

WildTangent recently announced that leading social game developer Playdom is integrating WildTangent's newly launched BrandBoost™ advertising platform into its popular Facebook game, Tiki Farm. With BrandBoost, Playdom can now reward gamers with virtual items and premium social games content in return for the gamer choosing to view a video or rich media advertisement within their game experience. This ad-supported option supports a recent Nielsen survey of 27,000 consumers indicating that over 85 percent of gamers would prefer to not pay for their digital games content, highlighting a significant opportunity for trusted brands to play a role in the online games ecosystem.

Tripwire CEO Jim Johnson was named the 2010 Technology Executive of the Year by TechAmerica. This honor will be officially announced at the Oregon Technology Awards event on May 6 at the Portland Art Museum in Portland, Oregon. This annual event celebrates excellence and achievement in the region’s technology industry.

Plexxikon was recently featured in a three-part New York Times series. The series, a year in the making, blends the stories of physicians and the patients they are treating while showing the clinical path Plexxikon’s PLX4032 has followed in its treatment of melanoma.

GI Dynamics recently announced initial, positive results from a clinical trial of the EndoBarrier™ Gastrointestinal Liner. The first group of patients from this trial has successfully completed 12 months of treatment with EndoBarrier, an important milestone in the clinical development of this non-surgical therapeutic treatment of metabolic disorders. The company also recently announced it has received a strategic investment from Medtronic, Inc. (NYSE: MDT). Proceeds from this financing will be used to advance the clinical development and European commercialization of EndoBarrier.

ChannelAdvisor kicked off 2010 with 261 new customer additions, record growth on Amazon, incremental growth on eBay, and overall growth across all channels.  Notable new retailers include GolfEtail, Replay Photos, Ritz Camera, The Sharper Image, ValuePetSupplies, Wine Enthusiast, and in the United Kingdom, Joe Browns, Republic Retail and Speedo.

For a more complete summary of recent portfolio company news, visit www.atvcapital.com.

ATV HIGHLIGHTS

ATV joined forces with Intel and other leading VC firms in the formation of the Invest in America Alliance, a $3.5 billion initiative to increase investment in U.S.- based technologies. The Invest in America Alliance serves as the private sector's complement to existing state and federal job creation programs through long-term investment in industries and talent poised to produce the next breakthroughs in technology innovation.

ATV General Partner Bill Wiberg was asked to serve as a spokesperson for the NVCA/PwC Q1 Moneytree Report.   Last week, his comments on 2010 investment trends were included in numerous publications such as The Associated Press, Bloomberg, Forbes, ABC News, San Jose Mercury News, and Investors Business Daily, among others.

Interested in learning more? Visit www.atvcapital.com for more information or to submit a business plan. Members of our investment team can be reached in Waltham (781.290.0707) or Palo Alto (650.321.8601). We look forward to hearing from you.