Oncology diagnostics company Epic Sciences, which last year launched what it describes as the only test that can help guide treatment for patients with advanced prostate cancer, has raised $52 million in a financing led by New York private equity firm Blue Ox Healthcare Partners to develop tests to address more types of cancer. The … Continue reading “Epic Sciences Raises $52M to Expand Cancer Diagnostic Portfolio”
Category: San Francisco
Xconomy’s San Francisco Event to Showcase Biotech’s Next Generation
The life sciences and biomedicine are a constant field of tension between cutting-edge ideas and breakthroughs, and time-tested procedures and regulations guided by experience and concerns for safety. This tension is, on the whole, a good thing, helping innovators hone their ideas and strategies. At times like these, there are no shortage of scientific breakthroughs … Continue reading “Xconomy’s San Francisco Event to Showcase Biotech’s Next Generation”
With Cornershop, Walmart Expands On-Demand Delivery to Latin America
Walmart is taking the e-commerce delivery business south of the border. The Bentonville, AR, retailer announced Thursday it has acquired Cornershop, an on-demand online service that delivers products from supermarkets, pharmacies, and specialty shops in Mexico and Chile, for $225 million. “We are focused on making life easier for customers and associates by building strong … Continue reading “With Cornershop, Walmart Expands On-Demand Delivery to Latin America”
Detroit’s StockX Raises $44M Funding Round, Plans to Hire 1,000
StockX, the online “stock market of things” focused on sneakers and other high-demand, limited-edition products, has closed one of the largest investment rounds raised by a Detroit startup and announced yesterday that it now plans to go on a major hiring spree. The news came from StockX CEO Josh Luber during a keynote speech at the … Continue reading “Detroit’s StockX Raises $44M Funding Round, Plans to Hire 1,000”
Xconomy’s EXOME Presents: San Francisco Biotech—The Next Generation
Even the best ideas in the life sciences are painfully difficult to turn into reality, especially if they are radically new or different. Older generations—of people and products—do not yield easily. How do scientists and entrepreneurs push past the status quo while respecting collective experience and wisdom? At our upcoming Xchange forum in San Francisco, … Continue reading “Xconomy’s EXOME Presents: San Francisco Biotech—The Next Generation”
Software Startup Classy Adds Ex-Okta, Civitas Execs to C-Suite
Enterprise software startup Classy, which developed a platform through which it says nonprofit organizations have raised nearly $1 billion for their causes, has hired its first-ever chief revenue and chief product officers. Adam Aarons, the new chief revenue officer, was also named Classy’s president. The company, based in downtown San Diego, is headed by CEO … Continue reading “Software Startup Classy Adds Ex-Okta, Civitas Execs to C-Suite”
Cloud Storage Startup Wasabi Grabs $68M to Eat Amazon’s Lunch
Wasabi Technologies’ ambitious plan to challenge the giants in cloud data storage—Amazon, Google, Microsoft, and IBM—just got a $68 million boost. Wasabi announced Wednesday it closed its Series B round of venture funding. The Boston-based startup had previously raised at least $8.5 million from investors, who are betting that it can build a big business … Continue reading “Cloud Storage Startup Wasabi Grabs $68M to Eat Amazon’s Lunch”
Living on the Edge: Amazon, AT&T, Packet Pursue “Cloudlet” Computing
The word “cloud”—as in cloud computing, and cloud storage—has served as a handy shorthand term, but it has always been inherently vague and a little misleading. When businesses and consumers use a cloud service provider like Amazon Web Services or Apple’s iCloud, their data, photos, and music don’t get processed in the misty skies above … Continue reading “Living on the Edge: Amazon, AT&T, Packet Pursue “Cloudlet” Computing”
Gilead Partners with Precision Bio in Search of Gene-Editing HBV Cure
Gilead Sciences is turning to gene editing in its effort to develop a cure for hepatitis B virus infections—DNA-cutting enzymes that would eliminate the virus in the body, something current hep B drugs can’t do. Foster City, CA-based Gilead (NASDAQ: [[ticker:GILD]]) is partnering with Precision Biosciences, a company that has used its proprietary gene-editing platform … Continue reading “Gilead Partners with Precision Bio in Search of Gene-Editing HBV Cure”
Coinbase, Circle & Others Form Blockchain Lobbying Group in DC
Amid intensifying regulatory scrutiny of cryptocurrencies and blockchain ventures, some of the sector’s leading startups and investors have formed the Blockchain Association, a lobbying group that will try to amplify their influence in Capitol Hill and around the country. The nonprofit trade association’s initial members include San Francisco-based Coinbase and its competitor, Boston-based Circle Internet … Continue reading “Coinbase, Circle & Others Form Blockchain Lobbying Group in DC”
With OneOncology, Flatiron and Cancer Docs Aim to Boost Community Care
A number of new technologies, from immunotherapy to targeted medicines and diagnostics, have all helped change cancer care the past few years. But not all cutting-edge technologies are available to patients who seek treatment at smaller clinics. OneOncology, an unusual new startup being launched this morning, aims to help cancer patients in community settings gain … Continue reading “With OneOncology, Flatiron and Cancer Docs Aim to Boost Community Care”
Don’t Fear the Robot: Humatics, Eckhart Push Factory Automation Tech
The state of American manufacturing has become an increasingly hot topic of conversation since the 2016 presidential election laid bare the discontent felt by workers and business owners alike. However, companies like Algonac, MI-based Eckhart and Cambridge, MA-based Humatics see an opportunity to reinvigorate American manufacturing through so-called “Industry 4.0” technologies—automated, connected, and collaborative tools … Continue reading “Don’t Fear the Robot: Humatics, Eckhart Push Factory Automation Tech”
Kodiak Sciences Files for IPO to Fund Global AMD Eye-Drug Studies
Many patients with the more severe form of age-related macular degeneration, a type of vision loss, have trouble with the standard treatment—a once-monthly injection into the eye. Kodiak Sciences believes it can do better with an experimental drug that may require less frequent injections and the company has filed for an IPO to finance a … Continue reading “Kodiak Sciences Files for IPO to Fund Global AMD Eye-Drug Studies”
U.S. Court Affirms Broad’s CRISPR Patent; No Word of Berkeley Appeal
On the heels of a federal court victory, the Broad Institute of Harvard and MIT is calling for the end of a long and winding legal fight over the ownership of the landmark genome editing system CRISPR-Cas9. The widespread ability for humans to manipulate their own DNA and that of many other organisms has arrived, … Continue reading “U.S. Court Affirms Broad’s CRISPR Patent; No Word of Berkeley Appeal”
Robotic Kitchen Startup Spyce Grabs $21M to Open More Restaurants
[Updated 9/10/18, 4:18 pm. See below.] Spyce plans to open more restaurants along the East Coast featuring its “robotic kitchen” system, thanks to a fresh infusion of $21 million in venture capital. The Somerville, MA-based startup’s Series A funding round was led by Collaborative Fund and Maveron, according to an announcement Friday. Other investors in … Continue reading “Robotic Kitchen Startup Spyce Grabs $21M to Open More Restaurants”
Bio Roundup: A Gene Editing 1st, China Rises, Schenkein Steps Away
If you’re still recovering from a Labor Day hangover or busy searching for the identity of the anonymous writer of the anti-Trump op-ed for the New York Times, you may have missed a few biomedical firsts. This week brought the first sliver of human data from an in-body gene editing procedure, and the results were … Continue reading “Bio Roundup: A Gene Editing 1st, China Rises, Schenkein Steps Away”
Tempest Therapeutics Names Ginna Laport Chief Medical Officer
Tempest Therapeutics has appointed Ginna Laport chief medical officer of the San Francisco company. Laport comes to Tempest from Burlingame, CA-based Corvus Pharmaceuticals, where she was vice president of clinical development. Prior to Corvus, Laport taught at the Stanford University School of Medicine. Tempest, which raised $70 million in Series B financing in March, is … Continue reading “Tempest Therapeutics Names Ginna Laport Chief Medical Officer”
Sangamo 1st to Show Human Gene-Editing Results. Investors Say ‘Meh.’
The first results from a landmark study of gene editing in humans came out today, and investors panned the study’s sponsor, Sangamo Therapeutics. The very early returns—from only four patients still in the midst of the study—are from a gene-manipulation technology called zinc finger nucleases, which is wholly owned by Richmond, CA-based Sangamo (NASDAQ: [[ticker:SGMO]]). … Continue reading “Sangamo 1st to Show Human Gene-Editing Results. Investors Say ‘Meh.’”
On Cusp of Gene Therapy Clinical Trial, 4D Molecular Reels In $90M
4D Molecular Therapeutics is already working with several large pharmaceutical companies to help them develop new gene therapies. Now, as its own gene therapy candidate approaches clinical trials, the company has raised $90 million in financing. Viking Global Investors led the investment, a Series B round of financing. Emeryville, CA-based 4D Molecular has developed technology … Continue reading “On Cusp of Gene Therapy Clinical Trial, 4D Molecular Reels In $90M”
Westlake Bio Unveils $320M Fund to Put Los Angeles on the Biotech Map
Los Angeles has long been in San Francisco’s shadow when it comes to life sciences investment. But a new venture capital firm led by industry veterans is trying to cast the City of Angels in a new light. Westlake Village BioPartners is launching today with $320 million in committed capital. The Los Angeles-based firm is … Continue reading “Westlake Bio Unveils $320M Fund to Put Los Angeles on the Biotech Map”
After a High-Speed Decade, Agios CEO David Schenkein to Step Aside
David Schenkein, the longtime CEO of Agios Pharmaceuticals, will step aside next year after transforming what was once a high-risk Cambridge, MA-based startup into a public biotech with over 500 employees and two drugs on the market. Schenkein’s replacement will be Jacqualyn Fouse, former president and chief operating officer of Celgene (NASDAQ: [[ticker:CELG]]) and a … Continue reading “After a High-Speed Decade, Agios CEO David Schenkein to Step Aside”
Principia Sets IPO Terms as It Eyes Late-Stage Studies for Lead Drug
Principia Biopharma plans to sell 4.6 million shares priced between $15 and $17 apiece when the rare disease drug developer makes its stock market debut. The South San Francisco, CA-based biotech set the IPO terms in a regulatory filing on Tuesday. At the midpoint of the proposed range, the Principia IPO would raise $74.8 million. … Continue reading “Principia Sets IPO Terms as It Eyes Late-Stage Studies for Lead Drug”
OpsGenie, Backed by Battery Ventures, Grants $295M Sale to Atlassian
Another Boston IT deal to report today: Atlassian says it has signed an agreement to acquire OpsGenie for an estimated $295 million, which includes $259 million in cash and the remainder in restricted shares of Atlassian (NASDAQ: [[ticker:TEAM]]). The planned acquisition seems to be a great return for Boston-based OpsGenie’s investors. The six-year-old startup appears … Continue reading “OpsGenie, Backed by Battery Ventures, Grants $295M Sale to Atlassian”
Behind the Deal: Under VMware, CloudHealth Aims to Be Household Name
The excitement and sense of triumph were palpable Thursday at CloudHealth Technologies, as the company held a party celebrating its recent move to a new headquarters on the 20th floor of a downtown Boston skyscraper. The source of the heightened atmosphere was no mystery—the enterprise software startup was also reveling in its planned sale to … Continue reading “Behind the Deal: Under VMware, CloudHealth Aims to Be Household Name”
E-Scape Bio Names Julie Anne Smith President & CEO
Julie Anne Smith has joined E-Scape Bio as president and CEO of the San Francisco company. She has also joined the neurological drug developer’s board of directors. Before coming E-Scape, Smith was president and CEO of Menlo Park, CA-based Nuredis. Smith’s experience also includes executive posts at Raptor Pharmaceuticals and Enobia Pharmaceuticals. Last year, E-Scape … Continue reading “E-Scape Bio Names Julie Anne Smith President & CEO”
Bio Roundup: Pfizer’s Rare Results, U.K.’s CAR-T No, IPO Go-Go & More
Before you head out for the final summer getaway, catch up on the week’s headlines. Pfizer upped the ante in the field of transthyretin amyloidosis (ATTR) treatment, where competition to treat the rare disease has grown increasingly complex. We’ll start with what was—and wasn’t—in Pfizer’s data release Monday, top up with more ATTR news, then … Continue reading “Bio Roundup: Pfizer’s Rare Results, U.K.’s CAR-T No, IPO Go-Go & More”
Wireless Internet Firms Take On Big Telecoms in Cities and Suburbs
If you’re a city dweller, and unhappy with the big company that provides your Internet connection, chances are good there’s a scrappy little outfit that thinks it can do better for you. Metropolitan areas have become target territories for the wireless Internet service providers, or WISPs, that for a long time have been the only … Continue reading “Wireless Internet Firms Take On Big Telecoms in Cities and Suburbs”
Sutro Biopharma, Arvinas Are Latest to Tee Up Biotech IPOs
The biotech IPO train is rolling on without slowing as we head into a holiday weekend. The latest to lay the groundwork to go public are Sutro Biopharma and Arvinas, which both want Wall Street’s help to back human trials of experimental cancer drugs. South San Francisco, CA-based Sutro set a preliminary $75 million target … Continue reading “Sutro Biopharma, Arvinas Are Latest to Tee Up Biotech IPOs”
Vecna Robotics Grabs $13.5M as Logistics Robots Stay Hot
Vecna Technologies’ logistics robotics business has raised $13.5 million in venture capital, according to a filing with the SEC. The funding for Vecna Robotics marks the first outside equity investment in any of 20-year-old Vecna’s businesses. Last year, Vecna completed a reorganization in which it split its various products and services into separate businesses operating … Continue reading “Vecna Robotics Grabs $13.5M as Logistics Robots Stay Hot”
Rivaling Google, Web-Mining Diffbot Opens Its Knowledge Graph to All
Diffbot, a tech startup that continuously scours the Web to assemble a “knowledge graph” of billions of facts in context, announced today that it’s opening up the searchable resource to the public—with starter rates as low as a cable TV bill. Mountain View, CA-based Diffbot gleans unstructured data scattered across websites, ads, blog posts, videos, … Continue reading “Rivaling Google, Web-Mining Diffbot Opens Its Knowledge Graph to All”
RootPath Raises $7M to Bring Cancer Cell Therapy to Solid Tumors
The concept of turning a patient’s own immune cells into a cancer therapy has made strides, with the past year seeing FDA approvals of two such treatments for blood cancers. But these cell therapies don’t work for everyone, and they can cause dangerous side effects. They also haven’t yet worked on solid tumors. RootPath wants … Continue reading “RootPath Raises $7M to Bring Cancer Cell Therapy to Solid Tumors”
With $500M Toyota Deal, Uber Sheds Go-It-Alone Driverless Car Goal
When an autonomous Uber car being tested in Arizona collided with a pedestrian last March, it resulted in the first known fatality caused by a driverless vehicle. The accident had a jarring effect on the entire mobility industry, but Toyota was one of the few players that took direct action in the wake of the … Continue reading “With $500M Toyota Deal, Uber Sheds Go-It-Alone Driverless Car Goal”
SoftBank Taps Affectiva to Boost Pepper Robot’s Emotional IQ
Teaching robots to recognize human emotions and react appropriately is one of the grandest ambitions in robotics. Companies have made progress on this front in recent years, thanks in part to advances in machine learning, computer vision, speech recognition, and related technologies. But there is a long way to go. Now, one of the big … Continue reading “SoftBank Taps Affectiva to Boost Pepper Robot’s Emotional IQ”
Puls Snags $50M to Grow On-Call Repair Service for Smartphones, IoT
Puls Technologies, whose on-demand technicians repair broken smartphones and install connected home devices, announced today it has raised $50 million to expand its reach as a unified source of device maintenance and consumer support. San Francisco-based Puls, founded in 2015, offers to dispatch technicians quickly to a customer’s home or office to replace malfunctioning parts, … Continue reading “Puls Snags $50M to Grow On-Call Repair Service for Smartphones, IoT”
VMware Acquiring Cloud Analytics and Management Startup CloudHealth
[Updated and corrected, 5:13 p.m. See below.] VMware has agreed to acquire CloudHealth Technologies, a Boston-based company that VMware wants for its service that lets businesses analyze and manage the cost, usage, security, and performance of private and public cloud computing options. Palo Alto, CA-based VMware (NYSE: [[ticker:VMW]]) didn’t disclose the terms of the deal. A … Continue reading “VMware Acquiring Cloud Analytics and Management Startup CloudHealth”
AbbVie’s Susie Jun Joins Allogene as Chief Development Officer
Allogene Therapeutics has appointed Susie Jun to serve as chief development officer. Jun comes to the cancer immunotherapy developer from AbbVie (NYSE: [[ticker:ABBV]]), where she was vice president and head of development for the company’s Stemcentrx subsidiary. Her experience also includes posts at Gilead Sciences (NASDAQ: [[ticker:GILD]]) and Amgen (NASDAQ: [[ticker:AMGN]]). South San Francisco, CA-based … Continue reading “AbbVie’s Susie Jun Joins Allogene as Chief Development Officer”
Bio Roundup: EpiPen Shortage, Bluebird’s Bet, Biotech IPOs & More
It’s back-to-school season and that means it’s time to load up on school supplies. For many students and schools, one crucial item is in high demand but hard to come by: the EpiPen. Some schools stock the epinephrine autoinjectors so they can respond quickly to a student’s allergic reaction to food. Though the autoinjectors are … Continue reading “Bio Roundup: EpiPen Shortage, Bluebird’s Bet, Biotech IPOs & More”
Meet the Startups Participating in Techstars Mobility’s Class of 2018
Detroit’s Techstars Mobility accelerator has announced its new cohort of startups working to advance technologies related to the movement of people and goods. Eleven companies are participating in the program this year, and, in a Medium post, program director Ted Serbinski said all of them have “diverse founding teams in regards to gender, ethnicity, or … Continue reading “Meet the Startups Participating in Techstars Mobility’s Class of 2018”
Eventbrite Targets $200M IPO as Tech, Biotech Markets Remain Hot
Event tech service Eventbrite is hoping to raise $200 million in an initial public offering during what has already been a busy year for IPOs. San Francisco-based Eventbrite lets users list and sell tickets to any type of event, from fundraisers to music festivals—for a fee on each ticket. The company had $201.6 million in … Continue reading “Eventbrite Targets $200M IPO as Tech, Biotech Markets Remain Hot”
Bluebird Bio Turns to Gritstone’s A.I. to Find TCR Cancer Targets
Bluebird Bio is betting that artificial intelligence technology from Gritstone Oncology can find new targets for cancer drugs, and the companies have struck a partnership to develop multiple cell therapies. Cambridge, MA-based Bluebird (NASDAQ: [[ticker:BLUE]]) develops gene and cell therapies. In cancer, the company focuses on a type of cell therapy called T-cell receptor therapy … Continue reading “Bluebird Bio Turns to Gritstone’s A.I. to Find TCR Cancer Targets”
Google, Dell EMC, Esther Dyson Join XCON 2018 Lineup
While the weather’s on the cool side, get ready for November. We at Xconomy are cooking up a special treat in Boston this fall: a three-day conference on technology and transformation called XCON 2018. It’s happening November 4, 5, and 6 at three different venues: Café ArtScience, the Institute of Contemporary Art, and Google’s Kendall … Continue reading “Google, Dell EMC, Esther Dyson Join XCON 2018 Lineup”
After Launching Women’s Mentor Network, Lisa Suennen Sets Sail from GE
Lisa Suennen, a high-profile life-sciences investor, is leaving a top post at GE Ventures after two years. Based in the San Francisco Bay Area, Suennen is widely known for her investment work as well as her writing—her blog is called “Venture Valkyrie“—and podcasting about people, companies, and industry trends, notably the gender equity gap among … Continue reading “After Launching Women’s Mentor Network, Lisa Suennen Sets Sail from GE”
Sierra Oncology Acquires Gilead’s Stalled Myelofibrosis Drug
An experimental myelofibrosis drug that fell short of expectations for Gilead Sciences is getting another shot under Sierra Oncology. Vancouver, BC-based Sierra (NASDAQ: [[ticker:SRRA]]) has acquired the drug, momelotinib, from Gilead (NASDAQ: [[ticker:GILD]]), for $3 million up front. The deal adds a late-stage drug candidate to Sierra’s pipeline of early-stage cancer drugs. Meanwhile, Foster City, … Continue reading “Sierra Oncology Acquires Gilead’s Stalled Myelofibrosis Drug”
Facebook, NYU Pin Hope of Faster MRIs on Artificial Intelligence
The long, sometimes painful wait to complete an MRI may soon be cut down dramatically—and we might have Facebook and its artificial intelligence unit to thank for it. The social media giant announced Monday that it is working with the radiology department at New York University’s School of Medicine to potentially use artificial intelligence software … Continue reading “Facebook, NYU Pin Hope of Faster MRIs on Artificial Intelligence”
Entasis Therapeutics and Principia Biopharma Join the IPO Queue
IPO activity has waned in the dog days of summer, but two more biotechs have now joined the growing list of companies with Wall Street ambitions. Entasis Therapeutics and Principia Biopharma have filed to go public, hoping to raise the cash needed to finance more clinical tests of their experimental drugs. Entasis and Principia each … Continue reading “Entasis Therapeutics and Principia Biopharma Join the IPO Queue”
Acquia’s New CEO Eyes Acquisitions, Not an Exit (Yet)
Acquia is known for software that helps businesses manage content on their websites. But these days, the 11-year-old company describes itself as a builder of “digital experiences,” a nod to the ever-expanding list of technological vehicles through which brands market their products—think mobile apps, social media, voice-controlled devices, and augmented and virtual reality experiences. “There’s … Continue reading “Acquia’s New CEO Eyes Acquisitions, Not an Exit (Yet)”
Rare-Disease Hackathon Leads to $3M for Health Data Startup RDMD
When tech entrepreneur Onno Faber learned he had an extremely rare genetic disease with no available treatments, he leaned on his tech skills and organized a Silicon Valley “hackathon” in 2017 to dig into his own DNA and perhaps help others with his condition. Faber can now lean on a few million dollars. The company … Continue reading “Rare-Disease Hackathon Leads to $3M for Health Data Startup RDMD”
Would Uber’s IPO Be a Revival or a Reckoning?
In its early years, Uber was a headstrong force knocking down preconceived ideas about transportation and, along with Lyft, sparking the imaginations of countless entrepreneurs who are now building a new industry called “mobility.” As it closes in on its first decade, Uber is a conundrum: A Silicon Valley unicorn with $7.3 billion in cash, … Continue reading “Would Uber’s IPO Be a Revival or a Reckoning?”
Bristol Nabs Immunotherapy’s First FDA Nod for Small Cell Lung Cancer
Over the past few years, immunotherapy has rapidly begun to change how lung cancer is treated. But it hasn’t been an option for patients with a particularly aggressive form of the disease, small cell lung cancer (SCLC), until today. The FDA on Friday approved Bristol-Myers Squibb’s (NYSE: [[ticker:BMY]]) immunotherapy, nivolumab (Opdivo), for SCLC patients who … Continue reading “Bristol Nabs Immunotherapy’s First FDA Nod for Small Cell Lung Cancer”
Bio Roundup: Big Approvals, ICER Influence, Drug-Price Pushback & More
[Updated 8/17/18, 10:21 a.m. See below.] We’ll start the roundup this week with two drug approvals that came late last Friday. Both were landmarks for the companies receiving the nod, Alnylam Pharmaceuticals and Amicus Therapeutics. We also saw a new biotech emerge in the muggy New York heat, a couple deals for new flu vaccines, … Continue reading “Bio Roundup: Big Approvals, ICER Influence, Drug-Price Pushback & More”