[Updated 11:23 a.m. See below.] If you’ve been following venture capital trends, what you expected to happen in the first quarter of 2019 did: More money is being invested in fewer deals, and women founders still are getting less of it than men. Venture firms sent $32.6 billion into startups nationally during the first three … Continue reading “VC Trends in 2019: More Money, Fewer Deals But Women Still Get Less”
Category: San Francisco
FDA Refuses to Review Zogenix Seizure Drug, Says File Not Complete
[Updated 9:11 p.m. ET. See below.] The FDA is refusing to review a Zogenix drug developed to treat seizures caused by a rare form of epilepsy. Zogenix said Monday that the FDA sent the company a “refusal to file” letter regarding its drug, fenfluramine hydrochloride (Fintepla). Such letters don’t amount to a rejection of a … Continue reading “FDA Refuses to Review Zogenix Seizure Drug, Says File Not Complete”
RiskLens Raises $20M for Software That Quantifies Cyber Risk
RiskLens, a developer of software for assessing, communicating, and managing cyber risk, announced Monday it has raised more than $20 million from investors. Spokane, WA-based RiskLens says it plans to use some of the proceeds from the Series B funding round to expand its sales, marketing, engineering, and professional services teams. They’ll work to try … Continue reading “RiskLens Raises $20M for Software That Quantifies Cyber Risk”
Klaviyo Puts Google, Facebook, Amazon on Notice With $150M Raise
Klaviyo, a Boston e-commerce startup, wants retailers to take their advertising spending back from the tech behemoths Google, Amazon, and Facebook. The thinking behind the push, according to CEO Andrew Bialecki, is whether in the long term companies are better off handing over their ad dollars or doing the work and “owning” the marketing themselves. … Continue reading “Klaviyo Puts Google, Facebook, Amazon on Notice With $150M Raise”
Four Things Every Smart Startup Should Do as It Scales
Your startup began as “four smart people with laptops and a vision.” Fast-forward a few years and it’s a bona fide business with investors, employees, and a snappy logo. Stay on this path, and signs are good that you’ll continue to grow. It’s easy and convenient to keep doing what you’ve been doing as you … Continue reading “Four Things Every Smart Startup Should Do as It Scales”
Global Detroit, U-M Team on Program to Boost Immigrant-Led Startups
The American Dream was once a fairly simple concept: The nation would welcome strivers from across the world and invite them to pull themselves up by their bootstraps, work hard, pay taxes, and become contributing citizens. However, immigration has become a highly charged political issue in the current era, making things more complicated. That’s one … Continue reading “Global Detroit, U-M Team on Program to Boost Immigrant-Led Startups”
Bio Roundup: Gottlieb’s Goodbye, AACR Recap, Migraine Drug Fight & More
Scott Gottlieb’s last day as FDA commissioner is today. His resignation announcement last month surprised some, given the earlier denials about leaving. But after two years of commuting between Connecticut, where his family remained, and the FDA’s Maryland headquarters, he decided to step down from the agency. What will Gottlieb’s legacy be? His efforts to … Continue reading “Bio Roundup: Gottlieb’s Goodbye, AACR Recap, Migraine Drug Fight & More”
Skills, Pills, & Hospital Bills: Amazon Debuts Alexa Health Features
Owners of Amazon’s voice-controlled, Internet-connected speakers can now use the gadgets to manage more aspects of their healthcare, following the company’s announcement Thursday that its Alexa devices can interface with software applications that process protected health information. As part of the announcement, Amazon (NASDAQ: [[ticker:AMZN]]) unveiled six “Alexa healthcare skills,” which allow patients to book … Continue reading “Skills, Pills, & Hospital Bills: Amazon Debuts Alexa Health Features”
C-Motive Powers Up With $2M to Launch Reimagined Electric Motor
C-Motive Technologies, a small startup in Madison, WI, wants to overhaul the electric motors that power electric vehicles, assembly-line robots, aircraft propellers, and other machines. Now, investors are betting on the company’s vision. This week, C-Motive announced it closed a $2 million investment led by Prime Impact Fund, a Boston-area fund that invests philanthropic dollars … Continue reading “C-Motive Powers Up With $2M to Launch Reimagined Electric Motor”
As AVs Rev Up, the Data Privacy Fight Could Shift to Your Car
There are plenty of unknowns regarding the future of self-driving cars, but one thing is certain: the mobility industry will be fueled by data. And that means automotive companies will have to address many of the same privacy issues that Facebook, Google, and other social media and Internet firms are grappling with now. By 2030, … Continue reading “As AVs Rev Up, the Data Privacy Fight Could Shift to Your Car”
NGM Bio’s IPO Raises $107M as NASH Drug Continues Clinical Testing
So far this year, NGM Biopharmaceuticals has licensed a drug to Merck, extended a research agreement with that partner, and laid the groundwork to continue mid-stage testing of its wholly-owned lead compound. Now it can add a $107 million IPO to the list. Late Wednesday, NGM sold appoximately 6.7 million shares for $16 apiece, the … Continue reading “NGM Bio’s IPO Raises $107M as NASH Drug Continues Clinical Testing”
Charles River Labs Says It Will Close San Diego Research Facility
Contract research organization Charles River Labs is shutting down its San Diego-area operations, moving the work done there to one of its two Northern California sites. In a filing with California’s Employment Development Department, Wilmington, MA-based Charles River (NYSE: [[ticker:CRL]]) said it would lay off 24 workers by May 20 in connection with the closure. … Continue reading “Charles River Labs Says It Will Close San Diego Research Facility”
AACR 2019 Roundup: Notes from a Weekend of Early Stage Cancer Results
[Editor’s note: Alex Lash co-authored this report] The American Association for Cancer Research’s annual meeting is wrapping up in Atlanta today. The conference typically focuses on early research and clinical work, not the big trials that can change the way doctors practice medicine and that compete for headline space at conferences like the American Society … Continue reading “AACR 2019 Roundup: Notes from a Weekend of Early Stage Cancer Results”
“FacePalm” Bug Is a Jarring Wake-Up Call. And Not Just for Apple
Apple is a global icon. It was the first company in the world to reach a $1 trillion market capitalization, and it is the most valuable company in the world today. For the second year in a row, Apple ranked as the world’s most-admired company, in a Fortune survey of 3,750 business executives. PC magazine … Continue reading ““FacePalm” Bug Is a Jarring Wake-Up Call. And Not Just for Apple”
Genentech’s Aaron Osborne Joins Adverum as Chief Medical Officer
Adverum Biotechnologies (NASDAQ: [[ticker:ADVM]]) has named Aaron Osborne its chief medical officer. Osborne is joining the Menlo Park, CA, biotech from Roche subsidiary Genentech, where he was principal medical director in product development. His experience also includes senior roles at Alcon and Novartis (NYSE: [[ticker:NVS]]). Adverum’s lead gene therapy candidate, ADVM-022, is in early-stage testing as … Continue reading “Genentech’s Aaron Osborne Joins Adverum as Chief Medical Officer”
FarmWise and Roush Partner to Develop Robots That Weed Farm Fields
We’ve heard a lot about autonomous cars over the past few years, but there are other applications for self-driving technology, including agriculture. Silicon Valley startup FarmWise this week announced a new partnership with Livonia, MI-based Roush, a legacy manufacturer and engineering services firm, to develop and test an autonomous machine that weeds row crops. FarmWise … Continue reading “FarmWise and Roush Partner to Develop Robots That Weed Farm Fields”
Go Behind the Hacker Frontlines at Cyber Madness in Boston April 8
Criminal hackers might get most of the headlines, but there are plenty of “ethical” hackers helping companies and organizations spot and fix vulnerabilities in their cyber defenses. On April 8, you can go behind the scenes of the hacker frontlines at Xconomy’s “Cyber Madness: Case Studies in Security,” an afternoon conference in Boston focused on … Continue reading “Go Behind the Hacker Frontlines at Cyber Madness in Boston April 8”
Bio Roundup: Amyloid Angst, NASH News, Brammer Bagged & More
A week after the failure of Biogen’s Alzheimer’s drug aducanumab, the ripple effects are still being felt—and not just by Biogen, which lost billions of dollars in market value in a flash. We’ll kick off this week’s roundup with the aducanumab reaction, which includes plenty of thoughts about the future of the so-called “amyloid hypothesis” … Continue reading “Bio Roundup: Amyloid Angst, NASH News, Brammer Bagged & More”
Lyft Raises $2.2B in IPO, Pegging Valuation at Over $24B
Investors eager to bet on the mobility industry’s future handed ride-hailing company Lyft $2.2 billion in new capital Thursday as the company completed an IPO that set its market capitalization at $24.3 billion, The New York Times reported. Lyft sold 30.8 million shares at $72 apiece, according to Renaissance Capital—the top of a new range … Continue reading “Lyft Raises $2.2B in IPO, Pegging Valuation at Over $24B”
So You Want to Start a Cybersecurity Company?
Cybercrime has become a global epidemic. Attacks will cost the world $6 trillion by 2021, research firm Cybersecurity Ventures says-–the greatest transfer of economic wealth in history and more profitable than the trade in all major illegal drugs. As the threat keeps rising, the cybersecurity industry keeps growing. According to data released in January by … Continue reading “So You Want to Start a Cybersecurity Company?”
Precision Bio’s IPO Raises $126M for Pipeline of Gene-Edited Drugs
Precision BioSciences has joined the club of publicly traded gene editing biotech companies, raising $126 million in its stock market debut. On Wednesday evening, Durham, NC-based Precision Bio sold 7.9 million shares for $16 apiece, which was right in the middle of its targeted price range. Those shares are expected to begin trading on the … Continue reading “Precision Bio’s IPO Raises $126M for Pipeline of Gene-Edited Drugs”
Arcus Bio Names Rekha Hemrajani Chief Operating & Financial Officer
Rekha Hemrajani has been appointed chief operating and financial officer of Arcus Biosciences (NYSE: [[ticker:RCUS]]). She joins the Hayward, CA, company from FLX Bio, where she was chief operating officer. Hemrajani’s experience also includes executive roles at 3-V Biosciences, Onyx Pharmaceuticals, and Exelixis (NASDAQ: [[ticker:EXEL]]). Arcus has a number of experimental cancer immunotherapies in early-stage … Continue reading “Arcus Bio Names Rekha Hemrajani Chief Operating & Financial Officer”
FTC Queries Internet Providers on Consumer Data Collection and Use
The Federal Trade Commission, which has been digging into the privacy practices of tech giants Facebook and Google, is now training its sights on the internet service providers that bring us all our online content. In its role as a consumer protection agency, the FTC ordered Verizon, AT&T, T-Mobile, Comcast, Google Fiber, and other ISPs … Continue reading “FTC Queries Internet Providers on Consumer Data Collection and Use”
Qualcomm Backs Industrial IoT Security Firm CyberX in $18M Round
CyberX, an industrial “Internet-of-things” security startup, has raised $18 million in a funding round led by the venture arm of chip-maker Qualcomm (NASDAQ: [[ticker:QCOM]]) and Inven Capital, a cleantech and new energy fund based in Prague, the Czech Republic. Waltham, MA-based CyberX says it has seen rapid sales growth, which it attributes to boards of … Continue reading “Qualcomm Backs Industrial IoT Security Firm CyberX in $18M Round”
Bolt Founder Ben Einstein Leaves Hardware Tech VC Firm
Ben Einstein, co-founder and general partner of hardware-focused investor Bolt, says he has left the venture capital firm he started as his partner, Grace, enters chemotherapy for a cancer diagnosis. “Through this gut-wrenching experience, the things I enjoy doing and that give me energy are clearer than ever: I am a builder,” Einstein wrote in … Continue reading “Bolt Founder Ben Einstein Leaves Hardware Tech VC Firm”
Bio Roundup: Sage Postpartum Help, Biogen Bids Adu, Heart Beats & More
One group of people in dire need of medical relief got good news this week. The first drug for postpartum depression was approved. With its complicated logistics, side effects, and potential high cost, it won’t be for everyone who experiences the condition—1 of every 9 U.S. women giving birth. But at least it’s an option. … Continue reading “Bio Roundup: Sage Postpartum Help, Biogen Bids Adu, Heart Beats & More”
CRISPR Diagnostic Race Heats Up as Sherlock Bio Launches With $35M
The high-stakes race to use CRISPR gene editing technology to create medicines has been underway for years now, and human trials are just starting. But the idea of using CRISPR as a tool to detect and diagnose a disease has been gaining traction, too, and the launch of a new startup today called Sherlock Biosciences … Continue reading “CRISPR Diagnostic Race Heats Up as Sherlock Bio Launches With $35M”
Gamers for Giving Provides Sick Children with Digital Playgrounds
In 2007, Zach Wigal and his friends at Saline High School decided to organize one of Southeast Michigan’s first competitive video game tournaments. They spent months preparing and eventually arranged to rent out the school’s cafeteria. Everything seemed to be in place, and with more than 300 people registered to attend, excitement ran high. Then, … Continue reading “Gamers for Giving Provides Sick Children with Digital Playgrounds”
New Funding for Workplace Software Firms Skedulo and Scope AR
Two young San Francisco companies on Wednesday announced fundraisings to bolster their online services aimed at improving workforce efficiency. —Skedulo, which helps managers schedule assignments for field service personnel, says it raised $28 million in a Series B funding round led by M12, Microsoft’s corporate venture arm. Joining in the round were previous investors Blackbird, … Continue reading “New Funding for Workplace Software Firms Skedulo and Scope AR”
Genentech’s Lieu Jumps to NGM Bio for Chief Medical Officer Post
Hsiao Lieu has been appointed senior vice president and chief medical officer of NGM Biopharmaceuticals. Lieu is joining South San Francisco, CA-based NGM from Roche’s Genentech unit, where he was vice president of early clinical development. NGM has a five-year research partnership with Merck (NYSE: [[ticker:MRK]]), which recently exercised its option to acquire rights to an … Continue reading “Genentech’s Lieu Jumps to NGM Bio for Chief Medical Officer Post”
New Accelerator Aims For Social Change With AR, VR, Gaming Startups
Games for Change, a non-profit that promotes the use of games and immersive technology for social good, is taking applications from startup teams for a new accelerator program it’s launching in New York City. New York-based Games for Change already encourages game and XR developers, by a variety of means, to build societal benefits into … Continue reading “New Accelerator Aims For Social Change With AR, VR, Gaming Startups”
U.S. Energy Dept. Awards $500M Supercomputer Contract to Intel, Cray
Computer chipmaker Intel and its subcontractor, Seattle-based Cray, say they expect a supercomputer they plan to eventually deliver will be a flop—an exaflop, that is. The U.S. Department of Energy’s Argonne National Laboratory has hired Intel (NASDAQ: [[ticker:INTC]]) and Cray (NASDAQ: [[ticker:CRAY]]) to build what the companies said Monday would be the first exascale supercomputer … Continue reading “U.S. Energy Dept. Awards $500M Supercomputer Contract to Intel, Cray”
Why Comma.ai, Maker of Self-Driving Tech, is Moving to San Diego
Tech salaries may not be as high outside of Silicon Valley, but neither is the cost of operating a business—or the cost of living. San Diego’s startup community has rejoiced in recent months as massive companies that employ thousands of engineers—including Amazon (NASDAQ: [[ticker:AMZN]]), Apple (NASDAQ: [[ticker:AAPL]]), and the tech arm of Walmart (NYSE: [[ticker:WMT]])—have … Continue reading “Why Comma.ai, Maker of Self-Driving Tech, is Moving to San Diego”
Amgen’s Grauer Joins Corcept Therapeutics as Chief Medical Officer
Corcept Therapeutics (NASDAQ: [[ticker:CORT]]) has appointed Andreas Grauer to serve as chief medical officer. Grauer comes to Menlo Park, CA-based Corcept from Amgen (NASDAQ: [[ticker:AMGN]]), where he was vice president of global development. Corcept develops drugs that modulate a hormone called cortisol to treat metabolic and psychiatric disorders, as well as cancer. Corcept has already … Continue reading “Amgen’s Grauer Joins Corcept Therapeutics as Chief Medical Officer”
The Role of the Student Engineer in Medicine and Innovation
The last 50 years have seen many great technical advances in medical treatments, ranging from drug delivery and imaging to skin grafts and prosthetics. These advances—both large and small—have drawn on many fields and have transformed patient care. When examining the current state of clinical technology, the focus is naturally on the technology and its … Continue reading “The Role of the Student Engineer in Medicine and Innovation”
Dermira Shares Soar After Eczema Drug Hits Goal of Mid-Stage Study
An experimental drug developed by Dermira to treat atopic dermatitis has hit the main goal of its mid-stage study, helping to build a case that the injectable treatment could measure up against a drug from Regeneron Pharmaceuticals and Sanofi. Atopic dermatitis is the most common and severe form of eczema, an inflammatory condition that leads … Continue reading “Dermira Shares Soar After Eczema Drug Hits Goal of Mid-Stage Study”
Qualcomm Gets $31M in Patent Infringement Trial Win Over Apple
Wireless giant Qualcomm notched a win Friday in its ongoing multijurisdictional war with smartphone maker Apple as a federal jury in San Diego unanimously backed its patent infringement case. Qualcomm (NASDAQ: [[ticker:QCOM]]) said Friday that the jury found that some versions of Apple’s iPhones—the 7, 7 Plus, 8, 8 Plus, and X—infringed two of its … Continue reading “Qualcomm Gets $31M in Patent Infringement Trial Win Over Apple”
M:Bility Conference: Panel Talks Factors Fueling Future of AV Industry
At AutoWorld’s M:Bility conference in Dearborn, MI, this week, a wide variety of topics pertaining to the mobility industry and the development of driverless technology were covered in keynote and panel discussions, including mapping and sensors, artificial intelligence, automotive data, mobility-as-a-service, electrification, and 5G connectivity. However, running through all topics was a measure of caution … Continue reading “M:Bility Conference: Panel Talks Factors Fueling Future of AV Industry”
Bio Roundup: Golumbeski’s Legacy, CRISPR Moratorium, Rebate Week & More
While all eyes in the biopharmaceutical world are currently trained on Bristol-Myers Squibb’s proposal to buy Celgene for $74 billion, it wasn’t that long ago that another company’s gaze was fixed on the Summit, NJ, drug maker. In the early 2000s, before the FDA approved Celgene’s flagship multiple myeloma drug lenalidomide (Revlimid), Novartis (NYSE: [[ticker:NVS]] … Continue reading “Bio Roundup: Golumbeski’s Legacy, CRISPR Moratorium, Rebate Week & More”
Keen, a San Antonio SaaS Startup Owned by Scaleworks, Hires New CEO
San Antonio—Ben Kuhn has been promoted to become the CEO of Keen, a San Antonio startup that helps software developers with custom application programming interfaces for data collection and analytics. Kuhn was hired as the general manager of Keen in 2018, having previously worked at healthcare companies DaVita and Genentech. Most recently, he co-founded another … Continue reading “Keen, a San Antonio SaaS Startup Owned by Scaleworks, Hires New CEO”
Harley-Davidson Goes Electric: Behind the Scenes of LiveWire’s R&D
For more than a century, the throaty “potato, potato, potato” rumble of a Harley-Davidson motorcycle has been synonymous with the open road, freedom—rebellion, even—and, some might say, American masculinity. For non-gearheads, that iconic sound, introduced in 1909, is the result of Harley-Davidson’s (NYSE: [[ticker:HOG]]) traditional engine configuration, a V-twin with a 45-degree angle between the … Continue reading “Harley-Davidson Goes Electric: Behind the Scenes of LiveWire’s R&D”
F5’s $670M Deal for Nginx Expands Firms’ Control of Web Servers, Apps
Internet users are celebrating the World Wide Web’s 30th birthday this week by reminiscing about early Web technologies like America Online and dial-up modems. But users’ Web experiences—from the 1990s to today’s mobile and social media-dotted digital landscape—are only possible with behind-the-scenes Internet infrastructure in place. The value of that infrastructure was highlighted in F5 … Continue reading “F5’s $670M Deal for Nginx Expands Firms’ Control of Web Servers, Apps”
Tenaya Taps Whittemore Tingley for Chief Medical Officer
Whittemore Tingley has been appointed chief medical officer of Tenaya Therapeutics. Tingley comes to the South San Francisco, CA, biotech from Cytokinetics (NASDAQ: [[ticker:CYTK]]), where he was vice president of clinical research, cardiology. Tenaya spun out of the nonprofit Gladstone Institutes in 2016 to develop regenerative medicine treatments for heart failure.
FDA Clears Aerie’s Combo Glaucoma Drug, But Will it Sell?
The FDA late Tuesday approved a new type of glaucoma drug from Aerie Pharmaceuticals that, in clinical testing, beat the generic eye drops known as prostaglandin analogues (PGAs) that are typically prescribed to slow the progression of the disease. Now Aerie (NASDAQ: [[ticker:AERI]]) will try to prove that the drug can overcome some of its … Continue reading “FDA Clears Aerie’s Combo Glaucoma Drug, But Will it Sell?”
The Investments Cisco, Samsung, Toyota, and Chevron Are Making in AI
Austin—If you’re a startup talking up your artificial intelligence chops in your venture capital pitch, you’re not alone. For Cisco Investments, the venture arm of tech giant Cisco, artificial intelligence is no longer one of the key trends to watch for during pitches in 2019. That’s according to Noah Yago, a director at Cisco Investments, … Continue reading “The Investments Cisco, Samsung, Toyota, and Chevron Are Making in AI”
Drug-Price Watchdog ICER Dives into Trump-Fueled Pharma Rebate Debate
[Updated 3/13/19, 12:20pm. See below.] With public and political winds blowing in the same direction, significant reform of the complicated U.S. drug-pricing system seems ever more likely. One part of the system that the Trump administration wants to overhaul are the secret rebates that drug makers, insurers, and middlemen negotiate behind closed doors. Replacements for … Continue reading “Drug-Price Watchdog ICER Dives into Trump-Fueled Pharma Rebate Debate”
The Life, Troubles, and Celgene Legacy of Deal Guru George Golumbeski
George Golumbeski is one of the most prolific dealmakers in the biopharmaceutical world. But the deal that changed his life is a pact he made with himself when he was ten years old. Playing with friends in front of his house in Hampton, VA, he watched his mother drag his dead-drunk father, a U.S. Air … Continue reading “The Life, Troubles, and Celgene Legacy of Deal Guru George Golumbeski”
Bio Roundup: Gottlieb Exits, Bristol Defends, Biogen Buys & More
In early 2017, Scott Gottlieb was considered the most moderate of the potential candidates to head the Food and Drug Administration, which is the most powerful regulator of medical products in the world. It wasn’t a high bar to clear. Libertarians who had questioned some of the basic premises of the FDA were in the … Continue reading “Bio Roundup: Gottlieb Exits, Bristol Defends, Biogen Buys & More”
Bright Cellars Uncorks $8.5M Round for Wine Subscription Service
A few years ago, the frothiest market in tech was arguably startups selling subscriptions to boxes of curated goods, such as clothing, beauty products, and food, which would arrive on customers’ doorsteps each month. The buzz around this area of e-commerce may have subsided a bit, but there are still a ton of box subscription … Continue reading “Bright Cellars Uncorks $8.5M Round for Wine Subscription Service”
Steering Lyft’s IPO: What Investors Will Weigh During the Roadshow
Much has been said about Lyft’s early lead over Uber in the “horserace” to become the first ride-hailing app company to go public. But now that San Francisco-based Lyft has filed its 276-page IPO prospectus with the U.S. Securities and Exchange Commission, potential investors can focus on much more detailed considerations as they decide whether … Continue reading “Steering Lyft’s IPO: What Investors Will Weigh During the Roadshow”