Author: Jeff Buchanan

Jeff formerly led Xconomy’s Seattle coverage since. Before that, he spent three years as editor of Xconomy Wisconsin, primarily covering software and biotech companies based in the Badger State. A graduate of Vanderbilt, he worked in health IT prior to being bit by the journalism bug.

In Battle Between Promega and Shareholders, Linton Heads to Court

To say that Bill Linton has a long-term vision for Promega, the Fitchburg, WI-based biotech business he founded in 1978 and continues to lead as chairman and CEO, would qualify as an understatement. In 2013, he told the Isthmus newspaper that he was working to arrange a corporate structure that would allow Promega “to celebrate … Continue reading “In Battle Between Promega and Shareholders, Linton Heads to Court”

Markable Downloads $1.9M For App That’s Like Shazam For Fashion

[Corrected 7/28/16 9:59 pm. See below.] Joy Tang knows models—both the algorithmic ones she helped develop while working in high-frequency stock trading for six years, and the human ones who grace magazine pages and strut along runways at fashion shows. Tang is the co-founder and CEO of Markable, a Madison, WI-based startup whose mobile app … Continue reading “Markable Downloads $1.9M For App That’s Like Shazam For Fashion”

Shares in Exact Sciences Up After Company Beats Quarterly Projections

[Updated 7/26/16, 5:15 pm. See below.] Shares in Exact Sciences were up more than 28 percent on Tuesday after the company released second quarter financial results that handily beat analyst expectations. Madison, WI-based Exact (NASDAQ: [[ticker:EXAS]]), whose flagship product is a stool-based DNA test for colorectal cancer known as Cologuard, said it completed about 54,000 of the … Continue reading “Shares in Exact Sciences Up After Company Beats Quarterly Projections”

Drones, Understory, & Cellectar: This Week’s Wisconsin Watchlist

Catch up on news from Wisconsin’s innovation community with these recent headlines: —Industries as diverse as insurance, agriculture, and construction are now using drones or considering it, the Wisconsin State Journal reported. The benefits to using these unmanned flying machines include worker productivity and safety, when it comes to tasks such as inspecting wind turbines. As … Continue reading “Drones, Understory, & Cellectar: This Week’s Wisconsin Watchlist”

MobileIgniter to Shut Down After Five Years and Multiple Pivots

According to U.S. Census data, less than half of businesses started between 1977 and 2000 lived to celebrate their fifth birthday. Indeed, today’s entrepreneurs understand there’s no guarantee they’ll succeed. There’s even a celebratory culture around failure in some circles. But if a startup does fail, the question is what lessons can be applied to … Continue reading “MobileIgniter to Shut Down After Five Years and Multiple Pivots”

Arrowhead Pharmaceuticals CEO on Name Change, Clinical Trial Progress

In September, Arrowhead Pharmaceuticals (NASDAQ: [[ticker:ARWR]]) released clinical trials data showing its hepatitis B virus (HBV) candidate had significantly lower levels of antigens. Last week, Chris Anzalone, president and CEO of Arrowhead—which is based in Pasadena, CA, but houses its R&D operations in Madison, WI—presented at Cantor Fitzgerald’s annual healthcare conference in New York. Xconomy … Continue reading “Arrowhead Pharmaceuticals CEO on Name Change, Clinical Trial Progress”

Invenra Raises $3M to Develop Antibodies with, and for, Drug Makers

Madison, WI-based Invenra has raised more than $3 million from 27 investors, according to a document filed with federal securities regulators. Mark Kubik, the company’s vice president of business development, says that some of the money will go toward fulfilling agreements it’s made with drug companies, including U.K.-based Oxford BioTherapeutics, which Invenra announced it had partnered … Continue reading “Invenra Raises $3M to Develop Antibodies with, and for, Drug Makers”

Titan Spine CEO: New Medical Billing Code Will Be ‘Big Selling Point’

Last week, Mequon, WI-based Titan Spine made a pair of announcements related to its ongoing effort to commercialize a new line of surgical implants. The first: that Southlake Equity Group, a private equity firm based in Southlake, TX, had made a “substantial” investment in Titan Spine. The second: that the U.S. Centers for Medicare & Medicaid … Continue reading “Titan Spine CEO: New Medical Billing Code Will Be ‘Big Selling Point’”

Kiio, HealthTech Capitol, & Exact Sciences: This Week’s WI Watchlist

Power through the dog days of summer with these recent headlines from Wisconsin’s innovation community: —Madison-based Kiio raised $227,000 in debt financing from three investors, according to an SEC filing. Kiio is developing software-enabled bands that provide resistance during rehabilitative exercises and help physical therapists gauge the strength of patients. Founded in 2011, Kiio has … Continue reading “Kiio, HealthTech Capitol, & Exact Sciences: This Week’s WI Watchlist”

Insulete Co-founder on Hopes, Challenges for Diabetes Gene Therapy

[Editor’s note: This is part of a series of stories on physicians at the University of Wisconsin Hospital and Clinics who have become full- or part-time entrepreneurs.] For almost 35 years Hans Sollinger has been searching for ways to combat Type 1 diabetes, a chronic and potentially deadly disease in which a patient’s immune system destroys the … Continue reading “Insulete Co-founder on Hopes, Challenges for Diabetes Gene Therapy”

Cellectar Biosciences Co-founder Jamey Weichert Stepping Down

Jamey Weichert, co-founder and chief scientific officer of Cellectar Biosciences, will be leaving the company on July 15, Cellectar said in a document filed Thursday with the SEC. Madison, WI-based Cellectar (NASDAQ: [[ticker:CLRB]]) is seeking to commercialize cancer drugs and imaging agents that would be delivered to their targets by special compounds called phospholipid ethers. … Continue reading “Cellectar Biosciences Co-founder Jamey Weichert Stepping Down”

Titan Spine Lands Funding from Texas PE Firm for Surgical Implants

[Updated 7/14/16, 5:34 pm. See below.] Mequon, WI-based Titan Spine says it’s raised a “substantial” round of funding from Southlake, TX-based Southlake Equity Group. The surgical implant maker says it will use some of the money to ramp up sales of its devices already on the market and support the launch of a new product … Continue reading “Titan Spine Lands Funding from Texas PE Firm for Surgical Implants”

Early-Stage Investment in WI Dipped in 2015, But Some Positive Signs

Venture capital funds and angel investors pumped $209.5 million into young Wisconsin-based startups in 2015. While that’s down from $346.2 million in 2014, that year’s total was pumped up by a single outlier, says Bram Daelemans, director of the Wisconsin Angel Network. A more positive development was the number of early-stage companies that raised investment … Continue reading “Early-Stage Investment in WI Dipped in 2015, But Some Positive Signs”

Exact Sciences, D2P, & Bon Ami: This Week’s Wisconsin Watchlist

Stay plugged in on news from Wisconsin’s innovation community with these recent headlines: —Even though a decision from the U.S. Preventive Services Task Force last month improved the outlook for Madison-based Exact Sciences (NASDAQ: [[ticker:EXAS]]) and Cologuard, its stool-based DNA test for colorectal cancer, there is still disagreement about whether insurance companies will cover the … Continue reading “Exact Sciences, D2P, & Bon Ami: This Week’s Wisconsin Watchlist”

IDAvatars to Move Beyond Healthcare Following Purchase of CodeBaby

Since launching in 2013, Mequon, WI-based iDAvatars has mostly focused on applications for its intelligent virtual assistant software in the healthcare industry. That will likely change following the startup’s acquisition of CodeBaby, which has developed similar technology to iDAvatars’. CodeBaby’s client roster includes some healthcare organizations, but also companies in sectors like finance, retail, and … Continue reading “IDAvatars to Move Beyond Healthcare Following Purchase of CodeBaby”

WISC Partners Raises $8.2M First Fund, Reveals Portfolio Companies

Wisconsin Investment and Strategic Capital (WISC) Partners, a Madison, WI-based venture capital group formed to support early-stage companies in the state, has raised $8.2 million for its first fund, according to an SEC filing. David Guinther, one of two general partners at WISC Partners, confirmed the raise in an e-mail message to Xconomy. “We have … Continue reading “WISC Partners Raises $8.2M First Fund, Reveals Portfolio Companies”

Fred Lee, The UW Radiologist With Startup Vision

[Editor’s note: This is part of a series of stories on physicians at the University of Wisconsin Hospital and Clinics who have become full- or part-time entrepreneurs.] Fred Lee is not afraid to put himself out there. Lee is a radiologist at the University of Wisconsin Hospital and Clinics, where his primary area of interest … Continue reading “Fred Lee, The UW Radiologist With Startup Vision”

Redox, Cellectar, Shine, & PeptiMed: This Week’s Wisconsin Watchlist

Stay caught up on all the latest news from Wisconsin’s innovation community with these recent headlines: —Redox, a Madison-based startup whose software helps other developers integrate their products with electronic health records (EHR) systems used at hospitals and clinics, revealed some of the companies and health systems that are using or plan to use Redox’s … Continue reading “Redox, Cellectar, Shine, & PeptiMed: This Week’s Wisconsin Watchlist”

Silatronix Gets $8M Jolt From Japanese Investors For Battery Tech

Silatronix, a Madison, WI-based developer of silicon-based materials that can be used as electrolytes in batteries and other energy storage devices, has raised $8 million from investors, the company said in a press release. Participants in the equity funding round included Hitachi Chemical and Inabata, both of Japan, and previous investors, Silatronix said. Inabata will … Continue reading “Silatronix Gets $8M Jolt From Japanese Investors For Battery Tech”

Gener8tor Opening Minnesota Office, First Class to Start in Fall

Gener8tor’s westward march along Interstate 94 continues. The startup accelerator, which launched in Milwaukee in 2012 before adding programs in Madison, WI, said on Thursday that it plans to open an office in the Minneapolis/St. Paul area and enroll its first class of early-stage companies there later this year. “We see a really robust market … Continue reading “Gener8tor Opening Minnesota Office, First Class to Start in Fall”

Cellular Dynamics, National Eye Institute Announce Another Tie-up

Since Fujifilm acquired Cellular Dynamics International for $307 million last year, CDI hasn’t made any major declarations regarding when—or how—it would use products manufactured by its parent company. That changed on Wednesday, when CDI, the Madison, WI-based provider of human cells, said it had entered into a collaboration with the National Eye Institute (NEI), one … Continue reading “Cellular Dynamics, National Eye Institute Announce Another Tie-up”

Inception Health President Talks Investment Strategies, Avia, & More

Taking investments from large health systems can be a way of killing two birds with one stone for early stage healthtech companies. This way, not only do the startups get the capital they need to fund operations and growth, they can also unlock the possibility of testing their products at these health systems, some of … Continue reading “Inception Health President Talks Investment Strategies, Avia, & More”

Tax Credits, Remedy Analytics, & Fiserv: This Week’s WI Watchlist

Catch up on the latest news from the Badger State’s innovation community with these recent headlines: —Wisconsin lawmakers voted to move $8 million in tax credits out of a pool of credits earmarked for early-stage companies and their investors, the Wisconsin State Journal reported. The tax credits are “now part of a new business development … Continue reading “Tax Credits, Remedy Analytics, & Fiserv: This Week’s WI Watchlist”

Apartment Rental Website Abodo Homes In On $3.3M In Funding

Abodo, a Madison, WI-based startup that has developed technology to help users search for apartments and contact property managers, has raised more than $3.3 million from 13 investors, according to a regulatory filing that was made public on Thursday. Alec Slocum, who co-founded Abodo in 2012 and serves as its CEO, confirmed the raise during … Continue reading “Apartment Rental Website Abodo Homes In On $3.3M In Funding”

One Solstice Raises $450K to Match Musicians and Concert Venues

Among other things, Austin, TX, is famous for its live music scene and yearly festivals, including South by Southwest and Austin City Limits. A lesser-known annual gathering in Austin that has nonetheless gained traction since it was first held in 2014 is Solstice Festival, which will take place this weekend at venues throughout the city. Since … Continue reading “One Solstice Raises $450K to Match Musicians and Concert Venues”

Outlook Improves For Exact Sciences After Task Force Tweaks Ratings

The U.S. Preventive Services Task Force on Wednesday announced changes to how it classifies colorectal cancer screening methods, a shift that could have implications for Madison, WI-based Exact Sciences (NASDAQ: [[ticker:EXAS]]) and its flagship product, a stool-based DNA test for colorectal cancer. In October, the task force released draft guidelines that proposed identifying Exact’s test, … Continue reading “Outlook Improves For Exact Sciences After Task Force Tweaks Ratings”

ImageMoverMD Helps Clinicians, Patients Transmit Photos Securely

[Editor’s note: This is part of a series of stories on physicians at the University of Wisconsin Hospital and Clinics who have become full- or part-time entrepreneurs.] Software is eating the world, and solid-state storage will not be spared. In movies and television, streaming services like Netflix (NASDAQ: [[ticker:NFLX]]) are rendering DVDs obsolete. In music, … Continue reading “ImageMoverMD Helps Clinicians, Patients Transmit Photos Securely”

Hyde‘s Inflatable Life Vest Wins WI Governor’s Business Plan Contest

Many pitch competitions award in-kind services and cash to startups, which often struggle to keep their heads above water financially. Hyde Sportswear, which on Wednesday was announced as the overall winner of the Wisconsin Governor’s Business Plan Contest, is itself in the business of helping people stay afloat—literally. Milwaukee-based Hyde’s flagship product is Wingman, which co-founder … Continue reading “Hyde‘s Inflatable Life Vest Wins WI Governor’s Business Plan Contest”

Stemina, Connecture, & Epic: This Week’s Wisconsin Watchlist

The weather is heating up, and so is activity within Wisconsin’s innovation community. Stay in the know with these recent headlines: —Stemina Biomarker Discovery, a Madison-based startup that’s developing a blood-based test for diagnostic autism spectrum disorder, raised another $2.4 million from investors, co-founder and CEO Elizabeth Donley said in an e-mail. The new money is … Continue reading “Stemina, Connecture, & Epic: This Week’s Wisconsin Watchlist”

Redox Picked to Join Cisco’s Entrepreneurs in Residence Program

Redox, a Madison, WI-based healthtech startup whose software helps other developers integrate with patient record-keeping systems used at hospitals and clinics, said on Tuesday that it has been selected to join Cisco’s Entrepreneurs in Residence program. Cisco Systems (NASDAQ: [[ticker:CSCO]]) runs the six-month corporate venture program, which will take place near the company’s headquarters in … Continue reading “Redox Picked to Join Cisco’s Entrepreneurs in Residence Program”

Ring’s James Siminoff Talks “Shark Tank,” Crime Prevention, and More

You might recognize Ring CEO James Siminoff from TV commercials, or maybe you’ve seen his company’s high-tech doorbells on display at stores like Best Buy, Costco, and The Home Depot. But hearing Siminoff narrate the story of his Santa Monica, CA-based company in person reminds you just how much of a rollercoaster the life of a … Continue reading “Ring’s James Siminoff Talks “Shark Tank,” Crime Prevention, and More”

TierPoint Talks Milwaukee Data Center Overhaul, Competing With Amazon

A Milwaukee data center that changed hands twice in the past two years before undergoing major renovations was unveiled to the public on Wednesday. The facility is owned by St. Louis-based TierPoint, which acquired it in March as part of the company’s purchase of Omaha, NE-based Cosentry. At the time the deal was announced, Cosentry … Continue reading “TierPoint Talks Milwaukee Data Center Overhaul, Competing With Amazon”

Ethoplex Eyes Residential Customers for Fast Internet Service

Last month, federal antitrust regulators officially cleared the $65 billion merger between Charter Communications (NASDAQ: [[ticker:CHTR]]) and Time Warner Cable, two of the country’s leading cable and Internet service providers (ISPs). The deal will bring some minor changes for residential Internet users in the Milwaukee area, where Time Warner had amassed significant market share. For … Continue reading “Ethoplex Eyes Residential Customers for Fast Internet Service”

Flu Research, Propeller, & Stem Cells: This Week’s WI Watchlist

Catch up on some of the latest happenings in Wisconsin’s innovation community with these recent headlines: —Writing in the journal Nature Microbiology, University of Wisconsin-Madison School of Veterinary Medicine virologist Yoshihiro Kawaoka and colleagues describe what they believe to be a better way of predicting the evolution of seasonal influenza strains, the university said. Their approach … Continue reading “Flu Research, Propeller, & Stem Cells: This Week’s WI Watchlist”

UW Health Surgeon’s Startup Expanding Software to Monitor Patients

[Editor’s note: This is part of a series of stories on physicians at the University of Wisconsin Hospital and Clinics who have become full- or part-time entrepreneurs.] Though he now works as a neurosurgeon, there’s always been a little bit of computer geek inside Josh Medow. While growing up in Illinois during the 1980s, Medow … Continue reading “UW Health Surgeon’s Startup Expanding Software to Monitor Patients”

Local Ties Lead to Partnership Between Fetch Rewards and Kraft Heinz

Wes Schroll, the founder and CEO of Fetch Rewards, says that in early 2015, his startup received a call from a man who worked at Oscar Mayer, the meat producer known for its hot dogs, bologna, and Wienermobile. Schroll says the caller lived just outside of Madison, WI—where Fetch Rewards is based and also where … Continue reading “Local Ties Lead to Partnership Between Fetch Rewards and Kraft Heinz”

Lee Newspaper Chain Takes Stake in Milwaukee Adtech Startup Okanjo

The rise of the Internet has had a drastic effect on print media, and there seems to be no going back. For today’s journalists, that means nightly or weekly deadlines often don’t loom as large as they did before newspapers gained the ability to publish at all hours. Their business-side colleagues have also had to … Continue reading “Lee Newspaper Chain Takes Stake in Milwaukee Adtech Startup Okanjo”

A Year Later, Northwestern Mutual, LearnVest Reflect on Acquisition

Slightly over a year ago, Milwaukee-based life insurance giant Northwestern Mutual acquired LearnVest, a New York-based fintech startup. Northwestern Mutual didn’t have a record of buying many early-stage companies, making the purchase a surprise to some observers. (At the time, CEO John Schlifske told Forbes that the insurer, which manages nearly $90 billion in assets, wasn’t … Continue reading “A Year Later, Northwestern Mutual, LearnVest Reflect on Acquisition”

StartingBlock, Cellectar & 500 Startups: This Week’s WI Watchlist

—StartingBlock Madison, an entrepreneurial center that would be located within a proposed $69 million building project just east of the city’s downtown, no longer plans to feature Sector67 as an anchor tenant, the Wisconsin State Journal reported. Sector67, a maker space in Madison, reportedly decided it couldn’t agree to the terms of a contract it … Continue reading “StartingBlock, Cellectar & 500 Startups: This Week’s WI Watchlist”

Badger State Initiative Launches Startup Funds in La Crosse, Neenah

A program supported in part by the state of Wisconsin that’s aimed at providing capital to early-stage companies appears to be coming to fruition at last. The Badger Fund of Funds, an initiative more than five years in the making, launched its first two “recipient” funds earlier this month. The announcements mark a key step … Continue reading “Badger State Initiative Launches Startup Funds in La Crosse, Neenah”

HealthDecision Founder Hangs Up the White Coat to Focus on Startup

[Editor’s note: This is part of a series of stories on physicians at the University of Wisconsin Hospital and Clinics who have become full- or part-time entrepreneurs.] Out with “doctor’s orders,” and in with “shared decision-making.” The U.S. healthcare system has witnessed sweeping reforms in recent years. The passage and implementation of the Affordable Care … Continue reading “HealthDecision Founder Hangs Up the White Coat to Focus on Startup”

Smart Choice MRI Raises Another $7M, From Illinois Hospital System

Smart Choice MRI, which charges patients a flat rate of $600 or less rate for scans, has raised $7 million from Edward-Elmhurst Health. Smart Choice CEO Rick Anderson says his company will use the latest financing to help fund its rapid expansion. The growth of the Mequon, WI-based business has so far been contained to … Continue reading “Smart Choice MRI Raises Another $7M, From Illinois Hospital System”

Exact Staff Cuts, NorthStar, & New Fundings: This Week’s WI Watchlist

Job cuts, expanded radioisotope production, and several new funding rounds are among these recent headlines from Wisconsin’s innovation community: —Exact Sciences (NASDAQ: [[ticker:EXAS]]) recently eliminated 29 employees, the Wisconsin State Journal reported. The Madison-based biotech’s growth has been brisk in recent years; Exact’s current headcount is reportedly about 750, up from 110 in early 2014. … Continue reading “Exact Staff Cuts, NorthStar, & New Fundings: This Week’s WI Watchlist”

After a Couple of Late Changes, Gener8tor Graduates Its Newest Class

Radiologists today are drowning in a figurative sea of images. Since 1999, there has on average been a five-fold increase in the number of scans a radiologist must interpret, says Peter Wakahiu Njenga, co-founder and CTO at Behold.ai. But these experts at image-reading have not gotten five times more efficient during that time, says Njenga, whose … Continue reading “After a Couple of Late Changes, Gener8tor Graduates Its Newest Class”

Nolan Hired as President of Dohmen Life Science Services

Dohmen Life Sciences Services, a Milwaukee-based pharmaceuticals company, said on Tuesday that Joe Nolan has joined the organization as president. Nolan’s career stops include executive positions at Lundbeck, a Denmark-based company that specializes in brain disease treatments, and, most recently, at Northbrook, IL-based Marathon Pharmaceuticals, which focuses on rare diseases. Dohmen helps its customers—many of them drug makers or medtech companies—bring their … Continue reading “Nolan Hired as President of Dohmen Life Science Services”

Stemina Gives Update on Autism Study, Tweaks Business Structure

Stemina Biomarker Discovery, a Madison, WI-based startup that is developing a blood-based test for diagnosing autism spectrum disorder (ASD), announced a trio of updates about its business on Tuesday: —More than 200 patients have enrolled in Stemina’s study of its experimental autism test that measures residues in the blood called metabolites. Early data from the … Continue reading “Stemina Gives Update on Autism Study, Tweaks Business Structure”

SmartUQ Raises $750K More to Develop Simulation Analytics Software

SmartUQ, a Madison, WI-based startup whose software allows users to test the performance of parts and products before manufacturing them on a large scale, has raised $750,000 in equity financing, according to an SEC filing. Peter Qian, SmartUQ’s founder and chief scientist, says some of the new funding will go toward research and development, as … Continue reading “SmartUQ Raises $750K More to Develop Simulation Analytics Software”

LabCorp Launches Colorectal Cancer Test, But Key Hurdles Remain

The market for colorectal cancer tests that are less cumbersome than colonoscopies is getting more crowded. LabCorp announced the launch of a blood-based colorectal cancer test on Monday, which will pit it against other makers of non-invasive diagnostics for such diseases, including Madison, WI-based Exact Sciences (NASDAQ: [[ticker:EXAS]]). Burlington, NC-based LabCorp (NYSE: [[ticker:LH]]) has worked … Continue reading “LabCorp Launches Colorectal Cancer Test, But Key Hurdles Remain”