In another important step for Exact Sciences, the Madison, WI-based company said today that the Centers for Medicare & Medicaid Services (CMS) will reimburse the use of its colon cancer diagnostic at $502 per test. Exact’s (NASDAQ: [[ticker:EXAS]]) stock closed at $24.90 per share today, up more than 2 percent from yesterday’s close. CMS had … Continue reading “Exact Sciences Gets Medicare Reimbursement, Pursues Private Insurers”
Author: Jeff Bauter Engel
Jeff, a former Xconomy editor, joined Xconomy from The Milwaukee Business Journal, where he covered manufacturing and technology and wrote about companies including Johnson Controls, Harley-Davidson and MillerCoors. He previously worked as the business and healthcare reporter for the Marshfield News-Herald in central Wisconsin.
He graduated from Marquette University with a bachelor degree in journalism and Spanish. At Marquette he was an award-winning reporter and editor with The Marquette Tribune, the student newspaper. During college he also was a reporter intern for the Muskegon Chronicle and Grand Rapids Press in west Michigan.
Edison DC Systems, Backed by Energy Foundry, Moves Closer to Market
Edison DC Systems, an energy storage startup that graduated Gener8tor’s accelerator program in April, has raised nearly $1.4 million from investors. The round was led by Chicago-based Energy Foundry, with participation by angel investors in Wisconsin, Illinois, and New York, Edison co-founder and CEO John Meinecke said. “This is a great opportunity for them and … Continue reading “Edison DC Systems, Backed by Energy Foundry, Moves Closer to Market”
The Water Council’s Pilot Accelerator Startups See Mixed Success
Building momentum for a new startup accelerator can take time, and it’s probably too early to pass judgment on The Water Council’s water tech accelerator in Milwaukee, which launched last year. But now that the program is well into its second class, I decided to check its temperature. The verdict? A mixed bag. The accelerator—dubbed … Continue reading “The Water Council’s Pilot Accelerator Startups See Mixed Success”
Midwest Manufacturing Town Racine Adds Startup Accelerator
As America’s heartland tries to reduce its reliance on traditional manufacturing, small cities are starting to follow the lead of their bigger counterparts by investing in programs aimed at boosting entrepreneurship in tech and other industries. In Wisconsin, the latest example is Racine, a historically blue-collar city south of Milwaukee that was hit harder than … Continue reading “Midwest Manufacturing Town Racine Adds Startup Accelerator”
Wisconsin Roundup: Bakken, Stemina, Solomo, Silatronix, & More
November has been busy for Wisconsin’s technology and innovation community. Here’s a rundown of some of the latest news: —Mark Bakken will step down as CEO of fast-growing Madison company Nordic Consulting, which consults for healthcare providers using Epic Systems’ electronic health records software. Bakken plans to raise $10 million for a venture fund that … Continue reading “Wisconsin Roundup: Bakken, Stemina, Solomo, Silatronix, & More”
Baird Capital Raises $185M for 4th VC Fund, Beating Target
Baird Capital says it has raised $185 million for its fourth venture capital fund, exceeding the $150 million target it set when it began courting investors in February. The fourth VC fund is Baird’s largest to date. That’s likely a bit of welcome news for Midwest startups, where venture capital is harder to come by. … Continue reading “Baird Capital Raises $185M for 4th VC Fund, Beating Target”
From Tools To Therapies: Stem Cell Maker CDI Takes One Small Step
Cellular Dynamics International CEO Bob Palay envisions a world where the eyes of a person going blind from macular degeneration can be healed by implanting healthy retinal cells that were engineered from the patient’s own blood or skin. That scenario will still require at least several years and untold millions of research dollars, but it’s … Continue reading “From Tools To Therapies: Stem Cell Maker CDI Takes One Small Step”
HealthMyne Put the Band Back Together to Unite Medical Images & Data
Some startups are born out of an epiphany or an accident by a brilliant (or lucky) entrepreneur. Other companies’ origin stories are not as sexy, and instead center on a group of smart people putting their heads together to calculate where market winds are blowing and how to get there first. Madison, WI-based HealthMyne falls … Continue reading “HealthMyne Put the Band Back Together to Unite Medical Images & Data”
Stemina’s Autism Blood Test Shows Early Promise, Has Lots to Prove
In the latest attempt to find a better method for diagnosing autism, researchers at Madison, WI-based Stemina Biomarker Discovery and the University of California-Davis’ Mind Institute published study results Friday of an early-stage, blood-based test that they say identified autistic children with 81 percent accuracy. The study, published in PLOS One, tested blood samples taken … Continue reading “Stemina’s Autism Blood Test Shows Early Promise, Has Lots to Prove”
WIP, Wisconsin’s Most Active Angel Group, Adds New Investors
[Updated 11/6/14, 11:08 a.m. See below.] Wisconsin’s most active angel investor group could get even busier, thanks to an influx of new members. Madison-based Wisconsin Investment Partners (WIP) added 18 new members in the past few months, primarily via a recruitment dinner held in the summer, co-manager Andy Shrago says. “We thought we’d be doing … Continue reading “WIP, Wisconsin’s Most Active Angel Group, Adds New Investors”
Wisconsin Roundup: Epic, Shine, Virent, Cover5, & More
Here’s a quick rundown of recent news from Wisconsin’s tech and innovation community: —Wausau Financial Systems was acquired by Shoreview, MN-based Deluxe Corp. (NYSE: [[ticker:DLX]]) for $90 million, according to the Minneapolis/St. Paul Business Journal. Mosinee, WI-based Wausau Financial Systems makes accounting software for banks and big companies. —Cover5 has raised $325,000 in debt funding … Continue reading “Wisconsin Roundup: Epic, Shine, Virent, Cover5, & More”
Inmar Buys Digital Coupon Startup Hopster in Wiegand’s Latest Exit
[Updated 11/3/14, 2:50 p.m., to include comments from Hopster and Inmar executives.] In another exit for Wisconsin serial entrepreneur Brian Wiegand, e-commerce technology provider Inmar has acquired Wiegand’s digital coupon startup Hopster for an undisclosed price. This marks the fourth tech startup that Wiegand, Hopster’s CEO, has guided to a sale. BizFilings, NameProtect, and Jellyfish were … Continue reading “Inmar Buys Digital Coupon Startup Hopster in Wiegand’s Latest Exit”
Irish Brothers’ Startup Makes 3D Printers Fed By Office Paper
Irish brothers Conor and Fintan MacCormack were into 3D printing before it was cool. In fact, Conor first discovered the concept in 1986, when he was in secondary school, watching a BBC television special. The technology hooked the 16-year-old right away, just like motorcycles, rocket ships, and computers already had. He was in awe watching … Continue reading “Irish Brothers’ Startup Makes 3D Printers Fed By Office Paper”
Ebola Outbreak a Proving Ground for Lucigen’s Rapid Diagnostic
Two years ago, no one could’ve predicted the worst Ebola outbreak in history would hit West Africa this year. And Lucigen—a small Wisconsin life sciences company with a federal grant to develop a simpler, faster test for diagnosing serious pathogens—certainly didn’t expect to play a part in the effort to assess and contain the deadly … Continue reading “Ebola Outbreak a Proving Ground for Lucigen’s Rapid Diagnostic”
Kauten Takes Helm of Lucigen as it Heads Down New Diagnostic Path
Ralph Kauten, one of Wisconsin’s more successful biotech entrepreneurs, was named CEO of Lucigen, a local life sciences supplier that is developing technology to rapidly identify pathogens, including Ebola. Kauten takes over for molecular biologist David Mead, who has served as the Middleton, WI-based company’s CEO since he founded it in 1998. Mead was pulling … Continue reading “Kauten Takes Helm of Lucigen as it Heads Down New Diagnostic Path”
With DNA From DEC and HP, Galway Builds Startup Hub Outside Dublin
Irish entrepreneur Michael FitzGerald still gets calls from investors and potential partner companies in the U.S. who ask him “How’s Dublin?” when making small talk—even though his startup, OnePageCRM, is located a two-hour drive west in the coastal city of Galway. FitzGerald usually doesn’t bother to correct them. “They just presume we’re in Dublin,” he … Continue reading “With DNA From DEC and HP, Galway Builds Startup Hub Outside Dublin”
Exact Sciences Execs Cash in on Colon Cancer Test’s Early Momentum
It’s been a good month for Exact Sciences and its top executives. With the Madison, WI-based company’s stock (NASDAQ: [[ticker:EXAS]]) trading near its all-time high, three executives and a board member cashed in significant chunks of their stock holdings earlier this month, earning them about $19.4 million total, according to SEC documents. In transactions from … Continue reading “Exact Sciences Execs Cash in on Colon Cancer Test’s Early Momentum”
Inside Dublin’s Tech Startup Incubators: Dogpatch, Wayra, NDRC
Visit any major city in the world that claims to have a healthy tech startup community, and chances are it’s got at least one accelerator program or incubator space. The accelerator model that Silicon Valley-based Y Combinator made famous—providing seed money and mentorship to a new group of early-stage companies every few months, in exchange … Continue reading “Inside Dublin’s Tech Startup Incubators: Dogpatch, Wayra, NDRC”
CurrencyFair Rides Irish Fintech Wave With Money Transfer Market
These days, people can send a text message halfway around the world in a matter of seconds, but wiring money across the globe can still take several days. And the typically poor exchange rates and fees charged by banks and other intermediaries can make international money transfers “a blatant rip-off,” in the blunt assessment by … Continue reading “CurrencyFair Rides Irish Fintech Wave With Money Transfer Market”
The Commons, Milwaukee Student Startup Accelerator, Finds a Home
The Commons, a planned Milwaukee startup accelerator and corporate research and development initiative driven by local university students, today crossed a big item off its checklist: securing its own physical space. The nonprofit initiative, formed by Startup Milwaukee and Innovation in Milwaukee, or MiKE, was announced in August, but it still had a lot of … Continue reading “The Commons, Milwaukee Student Startup Accelerator, Finds a Home”
Cellular Dynamics Gets Into Regenerative Medicine With Eye Cell Deal
Cellular Dynamics International, the Madison, WI-based provider of human cells, took its first big step into regenerative medicine today with the announcement of a $1.2 million contract from the National Eye Institute. Under the agreement, Cellular Dynamics (NASDAQ: [[ticker:ICEL]]) will make stem cells and retinal cells that federal researchers will use to develop treatments for … Continue reading “Cellular Dynamics Gets Into Regenerative Medicine With Eye Cell Deal”
Nonprofit Accelerator Plans Milwaukee Coding Camp to Grow Talent Pool
Milwaukee startup advocates have made a lot of effort over the past few years to inspire more local entrepreneurship. Now, the area could use a boost in grooming the professional talent that tech companies need. That’s according to leaders of the Global Entrepreneurship Collective (GEC), a Milwaukee nonprofit that runs two local startup accelerators. The … Continue reading “Nonprofit Accelerator Plans Milwaukee Coding Camp to Grow Talent Pool”
Organovo CEO: Closing IPO Window Could Spur More Reverse Mergers
Shifting perceptions and a cooling IPO market could lead more biotech startups to join a public stock exchange via a reverse merger with a shell company that is already publicly traded, says Organovo CEO Keith Murphy. That’s the route his San Diego-based company took in 2012, merging with a shell company whose stock was traded … Continue reading “Organovo CEO: Closing IPO Window Could Spur More Reverse Mergers”
Wisconsin Roundup: Deltanoid, Cellectar, Startup Grind, ZBB, & More
Here’s a quick rundown of recent news from Wisconsin’s technology and innovation community: —Madison-based Deltanoid Pharmaceuticals announced top-line data from a Phase 2b clinical trial of its vitamin D-based drug, DP001, as a treatment for a hormonal imbalance that can occur in patients with chronic kidney disease. In a 12-week, double-blind, randomized, placebo-controlled study involving … Continue reading “Wisconsin Roundup: Deltanoid, Cellectar, Startup Grind, ZBB, & More”
Gener8tor Continues Momentum With Fifth Class of Startups
Alumni of Gener8tor’s startup accelerator have been on a roll lately, and last night the program officially released its newest class into the wild with a closing event featuring pitches from the five graduating companies. Now it’s up to the latest batch of Gener8tor startups to make good on their plans, which were shared with … Continue reading “Gener8tor Continues Momentum With Fifth Class of Startups”
Connecture, WI Health Insurance Software Company, Plans $86M IPO
In a rare move for Wisconsin software companies, Brookfield-based Connecture plans to go public. The company intends to raise $86.25 million in an initial public offering on the Nasdaq stock exchange, according to documents filed with the SEC yesterday. While the IPO probably won’t turn heads nationally, Connecture’s filing comes at a time when tech … Continue reading “Connecture, WI Health Insurance Software Company, Plans $86M IPO”
Post-MassChallenge, Healthtech Startup ConsortiEX Growing in WI
Consolidation is the name of the game these days in the healthcare industry, as hospitals, clinics, and private physician groups across the country are increasingly teaming up. While healthcare officials and critics of such mergers and acquisitions might disagree over the real motives behind them, there’s no question that healthcare providers are taking a hard … Continue reading “Post-MassChallenge, Healthtech Startup ConsortiEX Growing in WI”
MyHealthDirect Raises $8M, Mum About Plans For Milwaukee Operations
MyHealthDirect, a healthcare scheduling software company founded nine years ago in the Milwaukee area, has raised $8 million to help it expand—but it’s unclear how much of that will involve the local office. MyHealthDirect’s registered business address is still in Brookfield, WI, where it was born. But the location listed at the bottom of its … Continue reading “MyHealthDirect Raises $8M, Mum About Plans For Milwaukee Operations”
NeuWave Medical Corrals $4.8M for Tumor-Zapping Tech
NeuWave Medical, a Madison, WI-based medical device maker, has raised $4.8 million through debt financing and securities options, a new SEC document shows. The funding round could eventually total $11.6 million. The company previously hauled in more than $29 million from the likes of H.I.G. BioVentures, Madison-based Venture Investors, the Wisconsin Alumni Research Foundation, and … Continue reading “NeuWave Medical Corrals $4.8M for Tumor-Zapping Tech”
Wisconsin Roundup: Exact Sciences, Epic, StartUp Health, & More
Here’s a rundown of recent important developments in Wisconsin’s tech and innovation community: —Shares of Madison-based Exact Sciences (NASDAQ: [[ticker:EXAS]]) shot up to a record $26.79 on Friday after it was announced that the company’s stool DNA test for detecting colorectal cancer, Cologuard, will be covered by Medicare. The stock closed last week at $24.60 … Continue reading “Wisconsin Roundup: Exact Sciences, Epic, StartUp Health, & More”
Marquette’s Lovell Moves Quickly to Boost Campus Entrepreneurship
The University of Wisconsin-Madison is widely seen as the state’s leading school for entrepreneurship, driven by more than $1 billion in annual research spending, a respected licensing and tech transfer arm, and a track record of successful spinouts. The school gives universities in Wisconsin’s largest city, Milwaukee, something to aspire to. In the past few … Continue reading “Marquette’s Lovell Moves Quickly to Boost Campus Entrepreneurship”
Former Dendreon CEO Gold Working on New Cancer Drug Startups
Fresh off a quick exit for his latest biotech startup, former Dendreon CEO Mitch Gold has a couple of new projects up his sleeve—but he’s not letting on much yet. Xconomy caught up with Gold on Wednesday after he gave a talk in Madison, WI, about the impact of low-cost genome sequencing and the scientific … Continue reading “Former Dendreon CEO Gold Working on New Cancer Drug Startups”
New Eye Care Investor RevOptix Grabs Majority Stake in RevolutionEHR
San Francisco investment group RevOptix has acquired a majority stake in RevolutionEHR, a Madison, WI-based provider of electronic health records software for eye doctors. The amount of the investment wasn’t disclosed. RevolutionEHR isn’t calling the deal an acquisition because its staff will stay in place, including co-founder and CEO Scott Jens, and previous investors are … Continue reading “New Eye Care Investor RevOptix Grabs Majority Stake in RevolutionEHR”
Deerfield Pouring $125M Into WI Startup Shine Medical Technologies
[Updated 10/10/14, 7:55 a.m. See below.] Shine Medical Technologies, the Monona, WI-based startup that aims to be the first domestic producer of medical radioisotopes, said today it has inked an investment deal with New York-based Deerfield Management for up to $125 million. The investment is a mammoth one for a Wisconsin startup, given that a … Continue reading “Deerfield Pouring $125M Into WI Startup Shine Medical Technologies”
Arrowhead Shares Tumble on Early Phase 2a Data For RNAi Drug
Shares of Arrowhead Research took a beating yesterday after preliminary data from the RNA interference drug developer’s Phase 2a trial of its hepatitis B treatment disappointed Wall Street investors. Arrowhead (NASDAQ: [[ticker:ARWR]])—which is based in Pasadena, CA, but has its core R&D team in Madison, WI—saw its shares fall as low as $5.47 yesterday, a … Continue reading “Arrowhead Shares Tumble on Early Phase 2a Data For RNAi Drug”
Private Social Network Nextt Has Shut Down, CEO Confirms
Less than a year after launching its social planning app, Madison, WI-based Nextt has shut down. The closure had been rumored for several months, but co-founder and CEO Mark McGuire had declined to confirm it until Wednesday, when he published a blog post performing a post-mortem on the startup. McGuire is a Madison serial entrepreneur … Continue reading “Private Social Network Nextt Has Shut Down, CEO Confirms”
Drive Capital Reveals Previously Secret $12M Investment in Comply365
Drive Capital has been hush-hush about the identity of its second Wisconsin startup investment. The mystery was solved today when Beloit-based mobile enterprise software company Comply365 announced it received $12 million from the Columbus, OH-based venture capital fund. Drive, founded by two former Sequoia Capital partners who moved to Ohio and launched a $250 million … Continue reading “Drive Capital Reveals Previously Secret $12M Investment in Comply365”
Madison’s Solomo Technology Wins $100K Steve Case Investment
[Corrected 10/8/14, 10:41 a.m. See below.] Solomo Technology founder and CEO Liz Eversoll walked away with a $100,000 investment from AOL co-founder Steve Case after she won yesterday’s startup pitch competition in Madison, WI. The event was part of the “Rise of the Rest Road Trip” highlighting emerging startup clusters in the Midwest. Eversoll also … Continue reading “Madison’s Solomo Technology Wins $100K Steve Case Investment”
EatStreet Tacks $4M Onto Series B Round, Continues Rapid Expansion
One of the year’s biggest capital raises by a Wisconsin startup just got bigger. Madison-based EatStreet announced today that it has tacked on $4 million to its $6 million Series B round announced in April. The new investors in the expanded Series B round are 4490 Ventures and the State of Wisconsin Investment Board (SWIB), … Continue reading “EatStreet Tacks $4M Onto Series B Round, Continues Rapid Expansion”
From Silicon Valley to Romania, WI Water Accelerator a Diverse Mix
The Water Council has pulled together a broad coalition of well-established Wisconsin corporations that touch water in some way, from water meters to water heaters to water sanitation. Now, the seven-year-old Milwaukee organization is continuing its increased focus on nurturing water tech startups, an emphasis that picked up steam last year with a pilot accelerator … Continue reading “From Silicon Valley to Romania, WI Water Accelerator a Diverse Mix”
Steve Case Gears Up For Second “Rise of the Rest” Midwestern Tour
AOL co-founder Steve Case likes to point out that a century ago, Detroit was America’s innovation capital, and Silicon Valley was just a bunch of farmland. Today, Silicon Valley is the bustling tech capital of the world, and the Motor City is trying to reinvent itself after a couple of decades marred by the outsourcing … Continue reading “Steve Case Gears Up For Second “Rise of the Rest” Midwestern Tour”
Zendesk CEO Mikkel Svane on IPO Honeymoon, Wisconsin Growth
Zendesk’s first two employees hired in Madison, WI, were originally supposed to relocate to the company’s San Francisco headquarters. They never ended up moving. After several months, co-founder and CEO Mikkel Svane took notice of the small Midwestern city’s strong talent pool, budding startup community, and humble, hard-working culture that reminds him of his home … Continue reading “Zendesk CEO Mikkel Svane on IPO Honeymoon, Wisconsin Growth”
Wisconsin Roundup: Shoutlet, Exact Sciences, Echometrix, DuPont, & More
Here’s a quick rundown of recent notable announcements from Wisconsin’s innovation and tech community: —Group Health Cooperative of South Central Wisconsin became the first Wisconsin insurer to announce coverage of Madison-based Exact Sciences’ recently approved DNA-based screening test for colorectal cancer, Cologuard. Exact (NASDAQ: [[ticker:EXAS]]) is one of Madison’s more closely watched biotech companies right … Continue reading “Wisconsin Roundup: Shoutlet, Exact Sciences, Echometrix, DuPont, & More”
The Rabble Aims to Make the Library Your Go-To Local Music Source
Amazon, iTunes, and other online music marketplaces make millions of songs available to consumers with just the click of a button. That gives small bands trying to grow their fan base beyond their moms and local groupies an easier path to people’s stereos, but it also raises a big question: how do they stand out … Continue reading “The Rabble Aims to Make the Library Your Go-To Local Music Source”
Epic Hopes WI Campus Can Help in Talent War with Apple, Facebook
Epic Systems’ massive, rapidly expanding campus tucked away in the Madison, WI, suburb of Verona is well known among locals and those who follow the electronic health records software industry. It’s probably less familiar to many tech executives in Silicon Valley, even though Epic designed it partly to beat them in the war for young … Continue reading “Epic Hopes WI Campus Can Help in Talent War with Apple, Facebook”
New Bioforward CEO Touts Gov’t, Economic Development Background
Bioforward, Wisconsin’s top life sciences trade group, has hired a new CEO with significant experience in local government and business-development posts. Laura Bray was named to the post today, succeeding Bryan Renk, who stepped down from Madison-based Bioforward in July. Bray spent a decade as executive director of the Menomonee Valley Partners, a nonprofit organization … Continue reading “New Bioforward CEO Touts Gov’t, Economic Development Background”
Wisconsin Roundup: Uber, Lyft, Epic, BioTechnique
Here’s a quick rundown of recent news from Wisconsin’s technology and innovation community: —A federal judge rejected a request by Milwaukee taxi groups to halt a new city law that lifts the cap on taxi permits and provides a pathway to legalization for ride-booking apps like Uber and Lyft, according to the Milwaukee Business Journal. … Continue reading “Wisconsin Roundup: Uber, Lyft, Epic, BioTechnique”
UW’s Blank on Tech Transfer, Bridging the Milwaukee-Madison Divide
For decades, it has felt like Milwaukee and Madison are separated by much more than 80 miles of highway and fields. The divide between Wisconsin’s two biggest cities—economically, culturally, and psychologically—has at times felt impossible to bridge. It’s a dynamic that’s not unique to Wisconsin (the relationship between Colorado’s Denver and Boulder comes to mind): … Continue reading “UW’s Blank on Tech Transfer, Bridging the Milwaukee-Madison Divide”
OnKol Wants to Help Grandma Join the Internet of Things Movement
As investors and corporations pour millions of dollars into connected-home devices, tech companies have no shortage of ideas—from smart thermostats and home security systems to data-collecting toothbrushes and a refrigerator that sends alerts when the milk is almost out. But while most of these “Internet of things” products are aimed at young tech-savvy adults or … Continue reading “OnKol Wants to Help Grandma Join the Internet of Things Movement”
Wisconsin Roundup: VictorySpark, Imbed, Virent, Cellectar, & More
There was a flurry of funding deals and new partnerships announced by Wisconsin startups and tech groups over the past week. Here’s a recap: —Madison-based Imbed Biosciences has raised about $683,000 from investors in a debt and equity funding round that could eclipse $1 million when closed, according to an SEC filing. The funding is … Continue reading “Wisconsin Roundup: VictorySpark, Imbed, Virent, Cellectar, & More”