San Antonio—[Updated 5:07 p.m. See below.] The nonprofit San Antonio Cancer Foundation announced this morning that it is giving $17 million for improvements to the Cancer Therapy & Research Center, according to a spokeswoman for the center. The cash will help build a renovated welcome center for patients, a diagnostic suite, an expanded pharmacy, and … Continue reading “San Antonio Cancer Foundation Donates $17M To Cancer Center”
Author: David Holley
David is the national correspondent at Xconomy. He has spent most of his career covering business of every kind, from breweries in Oregon to investment banks in New York. A native of the Pacific Northwest, David started his career reporting at weekly and daily newspapers, covering murder trials, city council meetings, the expanding startup tech industry in the region, and everything between. He left the West Coast to pursue business journalism in New York, first writing about biotech and then private equity at The Deal. After a stint at Bloomberg News writing about high-yield bonds and leveraged loans, David relocated from New York to Austin, TX.
He graduated from Portland State University.
Chiron Health Adds $1M in Seed Funds for Physician Video Chat System
Austin—Chiron Health, a telemedicine company with a system developed to let doctors and meet and chat with patients over video, has added about $1 million in equity funding to its seed round, according to CEO Andrew O’Hara. The company added the funding in early October, and it brings Chiron’s total seed round to $4.7 million, … Continue reading “Chiron Health Adds $1M in Seed Funds for Physician Video Chat System”
Allergan Snags Rhythm’s Diabetes-Related GI Drug for $200M
[Updated 2:03 p.m. See below.] Rhythm Pharmaceuticals is selling a stomach drug for $200 million to Dublin-based Allergan, a deal that has been in the works since 2014. Allergan is acquiring Motus Therapeutics (formerly Rhythm Health), which holds the rights to the gastrointestinal drug that aims to help the stomach empty more normally. Motus is … Continue reading “Allergan Snags Rhythm’s Diabetes-Related GI Drug for $200M”
80/20 Foundation Donates $600K for New San Antonio Tech High School
San Antonio—The San Antonio nonprofit 80/20 Foundation is giving Tech Bloc a $600,000 grant for an effort to construct a new high school focused on technology and entrepreneurship, called CAST Tech. Tech Bloc, a San Antonio tech-focused advocacy group, plans to seek a dollar-for-dollar match for the grant. It’s starting a foundation that will work … Continue reading “80/20 Foundation Donates $600K for New San Antonio Tech High School”
Techstars Decides to Close Cloud Accelerator in San Antonio
San Antonio—Techstars Cloud is closing its San Antonio accelerator program focused on cloud computing startups after four years in the Alamo City, according to managing director Blake Yeager. Yeager is staying with Techstars but moving to the company’s headquarters in Boulder, CO, where he’ll work as vice president of engineering for the national chain of … Continue reading “Techstars Decides to Close Cloud Accelerator in San Antonio”
Techstars, Angels Add $1M to Seed Round for Parking Startup NuPark
Austin—NuPark, a startup with video technology and software that helps customers like schools and governments manage parking, has added $1 million in new funding to the $1.4 million seed round the company raised last year, CEO Kevin Uhlenhaker tells Xconomy. That brings NuPark’s total seed money to about $2.6 million, including an early friends and … Continue reading “Techstars, Angels Add $1M to Seed Round for Parking Startup NuPark”
Alkermes Eyes FDA Nod After Retooled Study Yields Desired Results
Alkermes believes it has done it: showed that patients who took its treatment for depression fared better than people who didn’t. Based in Dublin and Waltham, MA, Alkermes (NASDAQ: [[ticker:ALKS]]) said Thursday afternoon that its once-a-day pill, ALKS 5461, met the primary aim of reducing symptoms of major depressive disorder in comparison to a placebo … Continue reading “Alkermes Eyes FDA Nod After Retooled Study Yields Desired Results”
Endomag, European Device Makers Eye U.S. Amid Regulatory Changes
San Antonio — Eric Mayes is in Texas to look for deals. As the CEO of Endomag, a medical device company from the U.K. with a magnetic-based technology used for cancer diagnosis, he’s no stranger to making them. In 2014, Endomag acquired Boulder, CO-based Actium Biosystems, a company with a device that aims to use … Continue reading “Endomag, European Device Makers Eye U.S. Amid Regulatory Changes”
Veritas Genetics Lands $30M for $1,000 Genome Sequencing
Veritas Genetics, which sells genome sequencing and genetic screening tests, has received a $30 million Series B round of funding to add more products, build out its digital tools for consumers, and ink partnerships with hospitals and researchers around the world. The Boston-based company simultaneously hired three new executives to handle each of those endeavors: … Continue reading “Veritas Genetics Lands $30M for $1,000 Genome Sequencing”
San Antonio Software Event Combines Pizza, Learning, and Networking
San Antonio—For anyone considering learning how to write code for software, it can feel as intimidating as diving into a foreign language. That’s partly why David Daeschler, a San Antonio entrepreneur, started an event series called Dinner and Code. He wanted to offer free lessons to people who were interested in learning computer programming, but … Continue reading “San Antonio Software Event Combines Pizza, Learning, and Networking”
Xenex CEO Miller Starts Tectonic Ventures With Boston Investor
San Antonio—Texas entrepreneur Morris Miller has created a new venture capital firm, Tectonic Ventures, with a Boston-based financier who has invested in at least two of Miller’s companies. Newton, MA-based Tectonic was incorporated in 2016 of this year by Matthew Rhodes-Kropf, an associate professor of finance at MIT and venture capital investor, according to an SEC … Continue reading “Xenex CEO Miller Starts Tectonic Ventures With Boston Investor”
Ocular Therapeutix Inks Licensing Deal With Regeneron For Wet AMD
Ocular Therapeutix announced a deal this morning with Regeneron Pharmaceuticals to develop a sustained-release form of aflibercept (Eylea), Regeneron’s drug for the “wet” form of age-related macular degeneration. Tarrytown, NY-based Regeneron (NASDAQ: [[ticker:REGN]]) would pay $10 million to Ocular if it exercises an option to the experimental product. Ocular would be responsible for early stage development of … Continue reading “Ocular Therapeutix Inks Licensing Deal With Regeneron For Wet AMD”
Inspyr Leaves San Antonio for California to Be Near Clinical Trials
San Antonio — Inspyr Therapeutics has moved out of San Antonio. The news comes a couple of months after the tumor-fighting biotech hired Chris Lowe to serve as president and CEO. Lowe replaced co-founder Craig Dionne, who left the company in March. The company, which changed its name to Inspyr from GenSpera in August, relocated … Continue reading “Inspyr Leaves San Antonio for California to Be Near Clinical Trials”
Denver Health IT Firm Welltok Picks Up $33.7M to Push Wellness Tools
Welltok has raised a $33.7 million Series E funding round to sign up more customers and further develop its software that aims to encourage healthy habits. The Denver-based health IT company sells its software, called CaféWell, to healthcare providers, insurers, government programs like Medicaid and Medicare, and employers. Those groups use it to incentivize their … Continue reading “Denver Health IT Firm Welltok Picks Up $33.7M to Push Wellness Tools”
Factom Snags $4.2M Series A for Record-Encrypting Blockchain Tech
Austin—Factom, an Austin, TX-based company that uses blockchain technology to secure and verify data such as public records and business documents, has raised a $4.2 million Series A funding round led by Tim Draper, the noted venture capitalist who runs investment firm Draper Associates. The funding will be used to further develop Factom’s product line … Continue reading “Factom Snags $4.2M Series A for Record-Encrypting Blockchain Tech”
San Antonio Firm Quirk Hires New CTO to Reboot Insurance Software
San Antonio—A company called Quirk & Co., which works in a sector known as wholesale insurance, has hired a new chief technology officer to retool software programs for the insurance groups it works with. Drue Placette started as the chief technology officer of San Antonio-based Quirk in August. A veteran of multiple startups in Austin … Continue reading “San Antonio Firm Quirk Hires New CTO to Reboot Insurance Software”
BioBridge Plans to Grow $7.8M into Large-Scale Stem Cell Production
San Antonio — A San Antonio life sciences nonprofit is working with three other organizations to learn how to produce larger volumes of stem cells, and has received $7.8 million from a military-based nonprofit group to do so. BioBridge Global and its subsidiary, GenCure, plan to develop a methodology for increasing the amount of clinical-grade stem … Continue reading “BioBridge Plans to Grow $7.8M into Large-Scale Stem Cell Production”
Caribou CEO Touts Incubator’s Role Translating Science into Startup
San Antonio — [Corrected 10/3/16, 5 p.m.] For a researcher trying to turn their science into a business, sometimes the big issues—such as perfecting an intricate scientific process like gene editing—feels like a less daunting task than what might seem to be smaller stuff, like finding an attorney to help incorporate a business, says Rachel Haurwitz, the … Continue reading “Caribou CEO Touts Incubator’s Role Translating Science into Startup”
Liquid Web Eyes San Antonio for Tech Talent After Cloud Sites Deal
San Antonio—A Lansing, MI-based Web hosting and server management company has plans to make more hires in the Alamo City after an acquisition, in part because its CEO thinks he’ll have better luck finding employees here. Liquid Web, which was founded in 1997, bought a Web server business from Rackspace called Cloud Sites in August, … Continue reading “Liquid Web Eyes San Antonio for Tech Talent After Cloud Sites Deal”
Progenerative Plans Bone, Business Growth From Revived Acelity Tech
San Antonio — After any acquisition, jobs can be lost, programs are cut, and the business changes its focus. That was true in the years after Kinetic Concepts was acquired by a private equity group led by Apax Partners for more than $6 billion. The business changed its outward-facing name to Acelity. It turned its … Continue reading “Progenerative Plans Bone, Business Growth From Revived Acelity Tech”
When Self-Driving Cars Turn Corner, Other Autos Become Irrelevant
Austin—Autonomous cars are coming. How quickly they take over the automobile market will largely depend on how soon consumers are willing to trust the cars, governments are able to manage the sector, and insurers are able to assess the risk, says Peter Stone, a professor who works in the artificial intelligence laboratory at the University … Continue reading “When Self-Driving Cars Turn Corner, Other Autos Become Irrelevant”
After $70M Boston Scientific Deal, CeloNova CEO Heads to Nonprofit
San Antonio — Martin Landon, a long-time San Antonio life sciences executive, has left the chief executive role at medical device maker CeloNova Biosciences a year after selling a portion of the business to Boston Scientific for $70 million. Landon has taken a new job as the CEO of nonprofit BioBridge Global. San Antonio-based BioBridge … Continue reading “After $70M Boston Scientific Deal, CeloNova CEO Heads to Nonprofit”
San Antonio Investors Create Angel Network, Hire Executive Director
San Antonio—[Updated 9/16/16, 11:36 p.m.] South Texas now has its own angel network, and the network officially has its own executive director. The San Antonio Angel Network announced this morning that it has hired Chris Burney, a former finance manager and analyst at Rackspace, for the position. The group quietly got its start this summer and … Continue reading “San Antonio Investors Create Angel Network, Hire Executive Director”
Scraffic Developers Simplify Traffic Tech for Retail Businesses
San Antonio—Tracking the foot traffic of retail stores may not be sexy work, but it’s big business. Dozens of companies provide some sort of related offering, from analytics programs and software services that piggyback on the iBeacon to something as simple as camera and equipment makers. A San Antonio-based startup, Scraffic, announced its launch yesterday … Continue reading “Scraffic Developers Simplify Traffic Tech for Retail Businesses”
For Fledgling San Antonio Companies, Startup Resources Trickling In
San Antonio—Echolase, a young startup with a product that crosses over between technology and life sciences, is on the brink of getting its first outside funding from a local investment group. But with the future of the company dependent on getting more money—Echolase needs funds to further test its medical imaging device, to rent office … Continue reading “For Fledgling San Antonio Companies, Startup Resources Trickling In”
San Antonio Tech Academy Creates Cybersecurity Course for Veterans
San Antonio—A technical career school affiliated with Rackspace is announcing a new training program focused on cybersecurity, a move that comes as more companies around the nation are seeking workers with highly technical training, especially in Internet security. The Rackspace Open Cloud Academy is starting a 12-week course on cybersecurity for job-seeking veterans with experience … Continue reading “San Antonio Tech Academy Creates Cybersecurity Course for Veterans”
Retrophin Drug Licensed by Shkreli Shows Positive Phase 2 Results
Retrophin, the drug developer founded by controversial former biotech executive Martin Shkreli, has posted positive results from a midstage study for its treatment for a rare kidney disease. San Diego-based Retrophin said that its drug, sparsentan, outperformed another drug sometimes used to manage a rare kidney disease, called focal segmental glomerulosclerosis (FSGS), in a Phase … Continue reading “Retrophin Drug Licensed by Shkreli Shows Positive Phase 2 Results”
Cepheid, Propelled By Seattle Chemists, Sells to Danaher for $4B
Molecular diagnostic test maker Cepheid has been acquired by Washington, DC-based Danaher (NYSE: [[ticker:DHR]]) in a deal valued at about $4 billion, the companies announced this morning. Sunnyvale, CA-based Cepheid (NASDAQ: [[ticker:CPHD]]) has been scaling up its testing service for more than a decade, now offering a variety of molecular-based diagnostic tests for maladies such … Continue reading “Cepheid, Propelled By Seattle Chemists, Sells to Danaher for $4B”
With Scaffold for Regenerating Arteries, Cardiovate Raises $350,000
San Antonio — An early stage San Antonio startup that aims to repair or replace clogged arteries with regenerated tissue has closed a small financing round from angel investors, The University of Texas Horizon Fund, and Targeted Technology, according to its CEO. Cardiovate, founded in 2012, closed a $350,000 round of convertible notes from the … Continue reading “With Scaffold for Regenerating Arteries, Cardiovate Raises $350,000”
Path Cleared for Bluegrass Vascular’s Vein-Access Device in Europe
San Antonio — [Updated 3:04 p.m. See below.] A San Antonio medical device startup called Bluegrass Vascular Technologies has received European approval to sell its system for regaining access to obstructed veins, focusing largely on patients who receive dialysis treatment for kidney failure. The company announced today that European regulators have given the company the go-ahead, … Continue reading “Path Cleared for Bluegrass Vascular’s Vein-Access Device in Europe”
Athenahealth Finds Patient-Facing Mobile App in Buyout of Patient IO
Austin—Athenahealth is buying an Austin, TX, software company with a service that aims to help healthcare providers encourage patients to follow a healthcare plan they might receive after a visit to a doctor or hospital. Watertown, MA-based Athenahealth (NASDAQ: [[ticker:ATHN]]) is paying an undisclosed amount for Filament Labs, a three-year-old startup that does business as … Continue reading “Athenahealth Finds Patient-Facing Mobile App in Buyout of Patient IO”
Leap Therapeutics Seeks Public Markets With Macrocure Merger
Leap Therapeutics, a biotech with a couple of early stage monoclonal antibodies targeting cancer, is merging with an Israeli company trading on the Nasdaq in hopes of being able to take Leap shares to the public market. Cambridge, MA-based Leap will combine with Israel-based Macrocure (NASDAQ: [[ticker:MCUR]]) in a deal known as a reverse merger—a … Continue reading “Leap Therapeutics Seeks Public Markets With Macrocure Merger”
As Rackspace Sells to Apollo for $4.3B, Locals and Cloud Feel Impact
San Antonio—Even though it now has more than $2 billion in annual revenue, Rackspace is a company whose roots are in the nimble startup world. That’s epitomized by a decision in the late 1990s, when the company’s co-founders—Richard Yoo, Dirk Elmendorf, and Pat Condon—transitioned the business from being an Internet service provider and app developer … Continue reading “As Rackspace Sells to Apollo for $4.3B, Locals and Cloud Feel Impact”
Lighter Capital Aims Revenue-Based Loans at Salesforce App Makers
[Updated 9:27 p.m. See below.] Lighter Capital expects to lend money to 11 small businesses this month. That’s exactly how many deals the Seattle-based company made in all of 2013, said CEO BJ Lackland. The growth is emblematic of the company’s overall expansion since Lackland took over as chief executive in 2012. At the time, … Continue reading “Lighter Capital Aims Revenue-Based Loans at Salesforce App Makers”
Amylyx Nabs $5M to Take Aim at Nerve Cell Death in ALS Patients
While the cause of amyotrophic lateral sclerosis, or ALS, remains a mystery, many researchers are trying to develop a cure by stopping its effect—the death of nerve cells that leads to muscle deterioration and the patient’s eventual death. One Cambridge, MA-based drug developer, Amylyx Pharmaceuticals, has received a $5 million Series A financing to take … Continue reading “Amylyx Nabs $5M to Take Aim at Nerve Cell Death in ALS Patients”
San Antonio Life Science Executives Plan Medtech Product Workshops
San Antonio — A life sciences professional development and advocacy organization has plans to host four medtech-focused workshops that aim to teach people working in the sector about different aspects of bringing a medical device to market. Called “Bedside to Bench to Bedside: Developing and Clinically Introducing Medical Technologies,” the workshop series is being hosted … Continue reading “San Antonio Life Science Executives Plan Medtech Product Workshops”
War, Surgery, and Cancer Vaccines: Meet San Antonio’s George Peoples
San Antonio — [Corrected 11:57 a.m. See below.] Cancer surgeries are long, arduous, and require detailed planning. There are always surprises. One measure of a surgeon is how he or she handles the unexpected. Just ask George Peoples—he’s operated on more than a thousand tumors. “You’re going to deal with certain anatomical structures that most people will … Continue reading “War, Surgery, and Cancer Vaccines: Meet San Antonio’s George Peoples”
Governments Pay for Research, Jobs in San Antonio Tech and Science
San Antonio — Finding funding for tech and life science ventures is no easy endeavor, be it an academic setting or in the corporate world. Government groups in Texas announced this week that they’re providing money to both sectors in San Antonio to boost research and job growth. The Cancer Prevention and Research Institute of Texas … Continue reading “Governments Pay for Research, Jobs in San Antonio Tech and Science”
With New Name and $86M, Tioma To Explore Anti-CD47 Cancer Therapy
With $86 million, a name change, and a new corporate office in the Bay Area, Tioma Therapeutics is pushing forward in its effort to bring an immuno-oncology drug into human clinical trials. The Brisbane, CA-based biotech plans to use the $86 million Series A to fund a trial that could start as soon as 2017 … Continue reading “With New Name and $86M, Tioma To Explore Anti-CD47 Cancer Therapy”
Rare Drug Developer Chiasma Lays Off More Workers After FDA Impasse
Chiasma, whose application for FDA approval for its drug for acromegaly was denied in April, is cutting 44 percent more of its workforce to keep itself afloat as it tries to figure out its path forward in the U.S. Since May, Chiasma (NASDAQ: [[ticker:CHMA]]) has reduced its total workers by 60 percent, leaving it with … Continue reading “Rare Drug Developer Chiasma Lays Off More Workers After FDA Impasse”
Allergan Pays $95M for ForSight VISION5, Eye Insert for Glaucoma
Allergan, the Dublin-based pharmaceutical company, has agreed to pay $95 million to buy ForSight VISION5 and its in-eye treatment for glaucoma. The Menlo Park, CA-based biotech makes a ring that rests on the surface of the eye beneath the eyelid, to be inserted by an ophthalmologist or optometrist. The ring releases Allergan’s (NYSE: [[ticker:AGN]]) glaucoma … Continue reading “Allergan Pays $95M for ForSight VISION5, Eye Insert for Glaucoma”
ORIC Hires Genentech’s Hanna as CEO, Adds New Chief Business Officer
South San Francisco, CA-based ORIC Pharmaceuticals has named Ashraf Hanna its CEO, replacing Rich Heyman, who helped ORIC raise a $53 million Series B in December while filling the role on an interim basis. Hanna was previously a commercial and medical affairs executive at Genentech, as well as the CFO of the Genentech Foundation. Heyman … Continue reading “ORIC Hires Genentech’s Hanna as CEO, Adds New Chief Business Officer”
Heron Gains FDA Support For Nausea Drug After A Year Under Review
The decision that Heron Therapeutics has been waiting on for almost a year is finally in: The FDA has approved the Redwood City, CA-based company’s drug for nausea and vomiting associated with certain chemotherapy regimens. Heron (NASDAQ: [[ticker:HRTX]]) first submitted a new drug application for the treatment, granisetron (Sustol), to the FDA in September 2015. … Continue reading “Heron Gains FDA Support For Nausea Drug After A Year Under Review”
Inspyr Seeks Clinical Partner for Cash After New Name, Exec Hires
San Antonio — Inspyr is a biotech in need of a turnaround. Chris Lowe, the CEO who was officially hired this month to replace co-founder Craig Dionne, is hoping a deal with another drug developer can help make a U-turn in the business. The 12-year-old San Antonio-based company has results from a Phase 2 trial … Continue reading “Inspyr Seeks Clinical Partner for Cash After New Name, Exec Hires”
Cleave Bio Gets $37M From Celgene, Others For Clinical Push
Celgene has taken an interest in another budding biotech. The big Summit, NJ, drugmaker joined with a group of venture capitalists to give Cleave Biosciences a $37 million Series B round to help pay for the startup’s first human clinical studies. Burlingame, CA-based Cleave is developing an experimental cancer drug, CB-5083, that is currently in … Continue reading “Cleave Bio Gets $37M From Celgene, Others For Clinical Push”
Texas Government Adds $3.5M to Fe3 Series B for Anemia Treatment
San Antonio — Fe3 Medical, a startup housed at the InCube Labs facility in San Antonio, has added $3.5 million to the Series B funding round it announced in March, bringing the total to $14.5 million. The add-on to the Series B came from the state of Texas, which also invested $2.8 million in Fe3 … Continue reading “Texas Government Adds $3.5M to Fe3 Series B for Anemia Treatment”
Metis Foundation, Targeting Military Researchers, Plans Fund Raise
San Antonio — [Corrected 1:20 p.m. See below.] A San Antonio nonprofit that aims to help medical researchers earn grants is beginning to raise money for a program that it says may be able to provide funding to both researchers working on new cancer vaccines and patients who participate in early stage clinical trials. The Metis … Continue reading “Metis Foundation, Targeting Military Researchers, Plans Fund Raise”
Inspyr, Formerly GenSpera, Replaces Co-Founder Dionne With New CEO
San Antonio—Inspyr Therapeutics, a biotech company based in San Antonio formerly known as GenSpera, has hired Christopher Lowe as its new CEO and president, replacing co-founder Craig Dionne after he abruptly left the company in March. Inspyr announced its name change Monday. Lowe, who had been on Inspyr’s board of directors since March, is a … Continue reading “Inspyr, Formerly GenSpera, Replaces Co-Founder Dionne With New CEO”
With Linux for Ladies, Rackspace Aims to Bring More Women to IT
San Antonio—The tech industry is notorious for its boys’ club history, problems with misogyny, and gaps in pay equality between men and women. In San Antonio, cloud computing giant Rackspace is leading one effort to help turn around the persistent gender problem in tech. Three years ago, Rackspace opened a technical career school called Rackspace … Continue reading “With Linux for Ladies, Rackspace Aims to Bring More Women to IT”
After Zafgen Abandons Prader-Willi Drug, Could Rhythm Offer Hope?
An effective treatment for Prader-Willi Syndrome would mean more to Kate Kane than just being free of the insatiable hunger the disease causes. It could mean being able to do something as normal as hold a job—like her dream of being a veterinary technician. That dream has been already stamped out once. One of the … Continue reading “After Zafgen Abandons Prader-Willi Drug, Could Rhythm Offer Hope?”