If you’re running a privately held biotech, the time to go public is now. Clinical data already in hand or not, biotechs have charged to Wall Street at a record pace over the past two weeks, raising more than $1 billion in offerings that all met or exceeded their projected valuations. And there are no … Continue reading “Bio Roundup: Big Bucks For Calico, Data Dumps & The IPO Wave Rolls On”
Category: San Francisco
IPO Wave Rolls On as Five Life Science Firms Haul In $651M
A week after seven biotechs went public, setting a new record for the Nasdaq, five more life sciences companies have joined the club. The latest crop continued the positive momentum for life sciences offerings, as the group either met or exceeded their projections and raised a total of $651 million. Neon Therapeutics (NASDAQ: [[ticker:NTGN]]) was … Continue reading “IPO Wave Rolls On as Five Life Science Firms Haul In $651M”
BitSight Picks Up $60M to Fend Off Rivals in Cybersecurity Ratings
BitSight Technologies is restocking its war chest to try and win the emerging market for cybersecurity ratings. Today the Cambridge, MA-based tech company announced it raised $60 million in a Series D funding round led by Warburg Pincus, the global private equity firm that has backed the likes of CrowdStrike in cybersecurity, DBRS in credit … Continue reading “BitSight Picks Up $60M to Fend Off Rivals in Cybersecurity Ratings”
Precision Bio Lands $110M as Gene-Edited Cell Therapy Nears Clinic
While CRISPR has grabbed the lion’s share of gene-editing headlines, Precision BioSciences has used its own gene-editing technology to quietly build a pipeline of products for both agriculture and human health. The Durham, NC company is now preparing to start testing a gene-edited cell therapy for cancer in humans and it has raised $110 million … Continue reading “Precision Bio Lands $110M as Gene-Edited Cell Therapy Nears Clinic”
GBT Eyes Fast Nod for Sickle Cell Drug but Won’t Use Patient-Reported Data
Global Blood Therapeutics hasn’t finished testing its treatment for sickle cell disease, but the South San Francisco, CA-based company thinks it can get a fast-track approval for the once-a-day pill, voxelotor, from the FDA. That was the company’s message this morning when it presented results from the first half of its key Phase 3 study, … Continue reading “GBT Eyes Fast Nod for Sickle Cell Drug but Won’t Use Patient-Reported Data”
It’s a Bird! A Bike! A Scooter! New Transit Options Land in Milwaukee
[Update 6/28/18 5:24 p.m.] Less than 24 hours after Bird rolled out a fleet of 100 motorized scooters in downtown Milwaukee that people can rent using Bird’s smartphone app, Milwaukee Deputy City Attorney Adam Stephens wrote the company a letter asking Bird to “immediately remove all of the motorized scooters held out for rent on … Continue reading “It’s a Bird! A Bike! A Scooter! New Transit Options Land in Milwaukee”
May Mobility and Bedrock Deploy Driverless Shuttles in Detroit
In March, May Mobility CEO Ed Olson told Xconomy that his company would beat Waymo, Uber, and Cruise in the race to get autonomous vehicles on the road, and it appears he may be right. May and Bedrock, the Detroit real estate firm associated with Quicken Loans chairman Dan Gilbert, have launched what they call … Continue reading “May Mobility and Bedrock Deploy Driverless Shuttles in Detroit”
New Round Boosts Lyft Valuation to $15B, But Uber Still Looms Large
Ridesharing service Lyft has upped its valuation by about $3.5 billion after adding a $600 million round of funding, which the company said Wednesday morning was led by previous investor Fidelity Management & Research. The new funding round gives Lyft a $15.1 billion post-money valuation, the company said in a blog post. That’s up from … Continue reading “New Round Boosts Lyft Valuation to $15B, But Uber Still Looms Large”
Largest Startup Class Yet Enters UC Berkeley’s Expanding Accelerator
More than a hundred startup teams are beginning a training and mentoring program this month at the Berkeley SkyDeck Accelerator—the largest group ever accepted to the UC Berkeley program since it was founded in 2012. Aside from the funding, free office rent, and other resources offered by the startup accelerator located near the edge of … Continue reading “Largest Startup Class Yet Enters UC Berkeley’s Expanding Accelerator”
Ford Builds Mobility Operation in Detroit, Releases New Fleet Tools
When I moved to Detroit about a decade ago, the husk of Michigan Central Station loomed over the Corktown neighborhood as an unrelenting reminder of how far the city had fallen—a symbol of its ruinous post-industrial identity as emblematic as the Sphinx was to Egypt. The conventional wisdom back then was that the old train … Continue reading “Ford Builds Mobility Operation in Detroit, Releases New Fleet Tools”
AstraZeneca’s PARP Drug Is First to Help New Ovarian Cancer Patients
Over the past few years, a new class of drugs known as “PARP” inhibitors has begun to change how ovarian cancer is treated. Data released by AstraZeneca and partner Merck this morning, from a Phase 3 study of the drug olaparib (Lynparza), could continue the trend. AstraZeneca (NYSE: [[ticker:AZN]]) and Merck (NYSE: [[ticker:MRK]]) said that … Continue reading “AstraZeneca’s PARP Drug Is First to Help New Ovarian Cancer Patients”
Don’t Be Boston 2.0, And Photos From “Bringing Back the Expats”
Be your own biotech cluster, not a Boston redux. Accelerate the momentum that’s already begun, don’t let it fizzle. And above all, be fearless entrepreneurs. You’ll need to be if New York biotech will ever become what its champions hope. Those were just a few lessons ex-New Yorker biopharma veterans had for the nascent life … Continue reading “Don’t Be Boston 2.0, And Photos From “Bringing Back the Expats””
Senators Grill HHS’s Azar on Drug Price Cuts That Have Yet to Come
When President Trump signed legislation last month allowing seriously ill patients the “right to try” unapproved drugs without FDA oversight, he voiced a bold prediction: Within two weeks, he said, drug companies would announce “voluntary massive drops in prices.” Asked for further detail, the Department of Health and Human Services (HHS) declined to elaborate on … Continue reading “Senators Grill HHS’s Azar on Drug Price Cuts That Have Yet to Come”
How the Rise of Beijing and Shanghai Tech May Impact Silicon Valley
When it comes to startup tech hubs, U.S. cities from San Francisco to Austin to Boston come first to mind. But that is starting to change, as Asian cities—particularly in China—are snapping up more tech venture capital funding and exits, according to a new report from CB Insights. Silicon Valley tech startups pulled in the … Continue reading “How the Rise of Beijing and Shanghai Tech May Impact Silicon Valley”
Helix Expands Real-World and Online Footprint with HumanCode Deal
Helix, which runs an online outlet for products based on customer DNA, has bought HumanCode, one of the app makers that contributes to its store. Denver-based HumanCode makes BabyGlimpse, which shows couples genetic traits that they might pass on to their children; and DNA Passport, which the company calls a “starter kit” to explore one’s … Continue reading “Helix Expands Real-World and Online Footprint with HumanCode Deal”
Student-Entrepreneur from Wisconsin Named 2018 Thiel Fellow
A student-entrepreneur from Oregon, WI, who runs a medical supplies company based in the Twin Cities, where she’s attended college the past two years, will receive $100,000 to take a leave from her studies and continue building the business following her selection as a 2018 Thiel Fellow. The Thiel Fellowship program, named for PayPal co-founder … Continue reading “Student-Entrepreneur from Wisconsin Named 2018 Thiel Fellow”
As Cybersecurity Business Expands, Proficio Offers Risk Scoring
In a bid to differentiate itself from the crowd of cybersecurity companies offering network monitoring services, Carlsbad, CA-based Proficio said it has developed a risk-scoring system that assesses its customers’ network security controls. In addition to highlighting each customer’s vulnerabilities to cyber-attack, Proficio said its new ThreatInsight software dashboard offers recommendations on how a customer … Continue reading “As Cybersecurity Business Expands, Proficio Offers Risk Scoring”
Catalog Hauls In $9M to Make DNA-Based Data Storage Commercially Viable
The practice of encoding data in DNA molecules could be inching closer to graduating from research labs to finding practical commercial use. In the coming years, the explosion of data being generated by computing devices could outstrip the supply of hard drives needed to store it, some industry experts say. Some academic researchers and business … Continue reading “Catalog Hauls In $9M to Make DNA-Based Data Storage Commercially Viable”
Ex-Accomplice Partner Lynch Returns to Corner Office with AtScale
Chris Lynch has been at a crossroads. After departing Accomplice in early 2017, where he spent the previous five years investing in early-stage data science and cybersecurity startups in the Boston area, Lynch says he did a lot of soul-searching to decide whether he wanted to remain a full-time investor or return to his roots … Continue reading “Ex-Accomplice Partner Lynch Returns to Corner Office with AtScale”
Stitch Fix CTO Polinsky Says Its Style Shuffle Game Makes Data Fun
When Cathy Polinsky became chief technology officer of Stitch Fix in late 2016, she knew one of the San Francisco-based company’s key challenges was continually refining its core software algorithm to make sure customers received the right tailored suggestions in their monthly wardrobe boxes. So, she made it into a game. Style Shuffle is a … Continue reading “Stitch Fix CTO Polinsky Says Its Style Shuffle Game Makes Data Fun”
With Roche Data, Cancer Combos Post First Win Vs. Small Cell Lung Cancer
Cancer immunotherapy combinations continue to chalk up wins against lung cancer. For the first time, an immunotherapy-chemotherapy combination has succeeded in a late-stage study of patients with small cell lung cancer (SCLC), a particularly aggressive form of the disease often linked to smoking. Roche’s South San Francisco, CA-based Genentech division said today that in a … Continue reading “With Roche Data, Cancer Combos Post First Win Vs. Small Cell Lung Cancer”
Costello Raises $2.1M to Accommodate Growing Customer Demand
Costello, the Indianapolis-based software startup, this week announced that it has raised $2.1 million in seed funding. A number of local and out-of-state investors contributed to the round, including Dundee Ventures, Collina Ventures, Silicon Valley’s Social Capital, Copper Mountain Technologies CEO Irena Goloschokin, and ExactTarget co-founder Chris Baggott. Costello’s software brings artificial intelligence to the … Continue reading “Costello Raises $2.1M to Accommodate Growing Customer Demand”
Some of the Best Reads for Casual Friday: Artificial Intelligence
Fridays can be the most productive work day, as you look to shore up everything before the weekend starts. Or, maybe instead, it’s a day filled with long lunches and listless Internet surfing, as you seek out all the interesting articles you missed during the week. Fear not: Xconomy has done the work for you, … Continue reading “Some of the Best Reads for Casual Friday: Artificial Intelligence”
Bio Roundup: Duchenne Data, Roche Buys Foundation, IPO Wave & More
Biotech financing is a cyclical thing. Two years ago, the IPO window was unlatched but a number of companies ended up withdrawing their stock offerings. Others that pushed their IPOs through couldn’t sell shares at the price they wanted. This year, the IPO window is wide open. A total of 93 IPOs have priced as … Continue reading “Bio Roundup: Duchenne Data, Roche Buys Foundation, IPO Wave & More”
Intel CEO Resigns After Board Learns of His Relationship With Employee
Intel (NASDAQ: [[ticker:INTC]]) announced Thursday that CEO Brian Krzanich has resigned in the wake of the company’s recent discovery that he had been involved in a past consensual relationship with an Intel employee. The relationship violated Intel’s non-fraternization policy—the finding of an ongoing investigation by internal and external counsel, the company said in a written … Continue reading “Intel CEO Resigns After Board Learns of His Relationship With Employee”
Latticework Launches Personal Hybrid Cloud for Private Data-Sharing
Were you aghast at revelations that third-party organizations were able to capture millions of Facebook profiles from users who were unaware of the company’s privacy policy terms? If so, a Silicon Valley startup is hoping to entice you with a new option for private data storage of your personal digital life, along with private channels … Continue reading “Latticework Launches Personal Hybrid Cloud for Private Data-Sharing”
Matrix Partners Holds Steady with $450M Fund, as Other VCs Go Big
[Updated 6/22/18, 10:06 am. See below.] Matrix Partners has raised $450 million for its 11th U.S. venture capital fund, according to a document filed with securities regulators. That’s the same size as Matrix’s last flagship fund, which it closed in 2013. That’s somewhat unusual in the current venture fundraising environment. Many venture firms have been … Continue reading “Matrix Partners Holds Steady with $450M Fund, as Other VCs Go Big”
Bio IPO Madness: Six Biotech Startups Raise $568M in 24 Hours
The window for biotech IPOs remains wide open and six more companies have charged through it, raising more than $568 million in the span of 24 hours. The first was Eidos Therapeutics (NASDAQ: [[ticker:EIDX]]), which raised $106 million in its stock market debut. The San Francisco company priced its IPO late Tuesday, selling 6.25 million … Continue reading “Bio IPO Madness: Six Biotech Startups Raise $568M in 24 Hours”
Retail Robot Maker Bossa Nova Raises $29M to Monitor Shelves
Bossa Nova, a robotics company geared toward grocers and other sellers of related consumer products, announced today it has raised $29 million in new funding. The round was led by Cota Capital, with previous investors such as Intel Capital, Lucas Venture Group, and WRV Capital and new investors LG Electronics and China Walden Ventures participating. … Continue reading “Retail Robot Maker Bossa Nova Raises $29M to Monitor Shelves”
Analog Devices Aims High With Tech “Garage” Atop Boston Skyscraper
Analog Devices, the 53-year-old semiconductor company, threw a party Tuesday afternoon to celebrate its new technology incubator in Boston, dubbed the Analog Garage—an homage to the innovations that have originated in garages, basements, and other “nondescript quarters” of the world, as the company puts it. But this ain’t no garage or basement. The 25,000-square-foot office … Continue reading “Analog Devices Aims High With Tech “Garage” Atop Boston Skyscraper”
Goldman Sachs Leads $43M Funding for Website Platform NGINX
NGINX Inc., a Web application delivery platform company built on the open-source Web server NGINX, announced today it raised $43 million in a Series C fundraising to advance its system for helping clients modernize their websites. The funding round, which brings NGINX’s total venture capital haul to $103 million, was led by Goldman Sachs Growth … Continue reading “Goldman Sachs Leads $43M Funding for Website Platform NGINX”
CrowdStrike Hauls In $200M, Reports Valuation Over $3 Billion
CrowdStrike, a Silicon Valley cybersecurity company that fends off hackers by patrolling the edge devices connected to a network, announced today it raised $200 million in a financing round that sets the company’s valuation at more than $3 billion. Sunnyvale, CA-based CrowdStrike, as an endpoint protection and response platform, uses next-generation antivirus software, scans for … Continue reading “CrowdStrike Hauls In $200M, Reports Valuation Over $3 Billion”
In a Genentech Redux, Roche Pays $2.4B for Rest of Foundation Medicine
Roche this morning agreed to acquire the part of Foundation Medicine it didn’t already own, another big vote of confidence in tests that analyze a patient’s cancer genes and the drugs that can target them. Roche will pay $137 per share, or $2.4 billion, for the remaining stock of Foundation (NASDAQ: [[ticker:FMI]]), of Cambridge, MA. … Continue reading “In a Genentech Redux, Roche Pays $2.4B for Rest of Foundation Medicine”
Sarepta’s Data Are First in Rush for Duchenne Gene Therapy
It’s far too early to say whether gene therapy can treat Duchenne muscular dystrophy, a deadly genetic disease. But the first clinical data have arrived, with Sarepta Therapeutics today reporting encouraging preliminary results from three patients. Sarepta (NASDAQ: [[ticker:SRPT]]), of Cambridge, MA, is conducting an early-stage study of its experimental treatment known as AAVrh74.MHCK7.micro-Dystrophin. The … Continue reading “Sarepta’s Data Are First in Rush for Duchenne Gene Therapy”
Comcast, ForgePoint Pump $10M Into Security Analytics Startup Uptycs
Uptycs is starting to make some noise. Today, the two-year-old cybersecurity startup announced a $10 million Series A funding round to help expand its team and advance its security analytics software. The investment was led by ForgePoint Capital, a cybersecurity-focused venture firm formerly known as Trident Capital CyberSecurity, and Comcast Ventures, the venture arm of … Continue reading “Comcast, ForgePoint Pump $10M Into Security Analytics Startup Uptycs”
Quest Analytics Buys Healthcare Compliance Software Firm BetterDoctor
BetterDoctor, a San Francisco-based startup that has built a national database with information on physicians, dentists, and other practitioners, has been acquired by a Wisconsin software analytics business, the companies said Monday. Appleton, WI-based Quest Analytics said that following its purchase of BetterDoctor, the combined company will build a “comprehensive platform” to help health plans … Continue reading “Quest Analytics Buys Healthcare Compliance Software Firm BetterDoctor”
Biotech Beware, Your Culture Is Showing
In a recent survey of 220 scientists, 60 percent of the respondents reported having experienced harassment at a conference at some point in their careers. Even more astounding is the fact that 82 percent of those who reported harassment did not report it when it occurred. That’s why it’s easy to say, “How big of … Continue reading “Biotech Beware, Your Culture Is Showing”
CarePredict Set to Buy IP of San Antonio’s WiseWear From Bankruptcy
San Antonio—The intellectual property of WiseWear, the bankrupt company that sold fashionable wearable devices, may be sold to the new employer of WiseWear founder Jerry Wilmink. CarePredict, a Plantation, FL-based business that sells wearable devices and software to assisted living facilities for monitoring residents, bid $110,000 to buy the intellectual property assets of WiseWear, according … Continue reading “CarePredict Set to Buy IP of San Antonio’s WiseWear From Bankruptcy”
Teva’s Migraine Drug Fails in Phase 3 for Chronic Cluster Headaches
Teva Pharmaceutical’s bid to add a new therapeutic application for its experimental migraine-prevention drug has faltered in a late-stage study. Israel-based Teva (NYSE: [[ticker:TEVA]]) said Friday that it is stopping a Phase 3 clinical trial testing its drug, fremanezumab, for prevention of chronic cluster headaches. According to the company, an analysis found that the study … Continue reading “Teva’s Migraine Drug Fails in Phase 3 for Chronic Cluster Headaches”
Bio Roundup: Not-BIO Party Foul, CRISPR Drama, Sickle Cell Updates
This week brought a sobering reminder of how far away we are from true gender equality in the life sciences. An industry party held during BIO’s annual meeting in Boston last week featured scantily clad women with company logos painted on their bodies—two years after the infamous party at the J.P. Morgan party in San … Continue reading “Bio Roundup: Not-BIO Party Foul, CRISPR Drama, Sickle Cell Updates”
For Sickle Cell, a Complex Disease, New Drugs Could Bring Complex Costs
Cassandra Trimnell has sickle cell disease. She also loves to travel. For her 30th birthday last year, she and her husband planned a trip to Indonesia, and she figured she would be fine. Growing up in Iowa, she was sick all the time, in and out of hospitals with severe pain episodes, or “crises,” and … Continue reading “For Sickle Cell, a Complex Disease, New Drugs Could Bring Complex Costs”
Bluebird’s Upgraded Gene Therapy Shows Promise For Sickle Cell Patients
Bluebird Bio has new clinical data this morning that, while early and only from a handful of patients, are the most significant evidence to date that gene therapy might help people with sickle cell disease, a genetic disorder without an effective treatment that afflicts millions around the world. The data, presented at the European Hematology … Continue reading “Bluebird’s Upgraded Gene Therapy Shows Promise For Sickle Cell Patients”
Benchling Scores $14.5M to Grow Online Lab Notebook for Bio-Researchers
New immunotherapy approaches to cancer treatment, and the CRISPR technology for editing genetic material in cells, are among the most sophisticated research strategies scientists are using in their quest to defeat disease. But as researchers develop these techniques based on manipulating biological molecules, they may still be recording their experimental results by a method untouched … Continue reading “Benchling Scores $14.5M to Grow Online Lab Notebook for Bio-Researchers”
Mindstrong Adds $15M for Tech That Predicts Mental Health Changes
Mindstrong Health, a technology company that wants to help treat neurological conditions by tracking a person’s smartphone use, announced this morning it has closed a $15 million Series B round of funding. The Palo Alto, CA-based company is using the new money to move its product forward commercially on two paths. First, Mindstrong is partnering … Continue reading “Mindstrong Adds $15M for Tech That Predicts Mental Health Changes”
Jayson Dallas Leaves Ultragenyx for CEO Post at Aimmune
Jayson Dallas has been appointed CEO of food allergy therapy developer Aimmune Therapeutics. Before joining Brisbane, CA-based Aimmune, Dallas was the chief commercial officer of Ultragenyx (NASDAQ: [[ticker:RARE]]) in Novato, CA. Dallas succeeds Stephen Dilly, who last year announced his plans to retire from Aimmune. The company says Dilly will continue to serve as an … Continue reading “Jayson Dallas Leaves Ultragenyx for CEO Post at Aimmune”
Last Chance to Save on June 21’s ‘New York Biotech: Bringing Back the Expats’
Summer is quickly approaching, and Xconomy has one last biotech event lined up to kick it off. On Thursday, June 21, we’re presenting “New York Biotech: Bringing Back the Expats.” Register today with our procrastinator’s special and save $75! The New York life sciences sector faces myriad challenges catching up to places such as Boston … Continue reading “Last Chance to Save on June 21’s ‘New York Biotech: Bringing Back the Expats’”
Jibo Lays Off Staff Several Months After Launch of “Social Robot”
Less than a year after Jibo began shipping its long-awaited “social robot” to consumers, the startup has reportedly laid off almost all of its employees. A Jibo spokesperson told BostInno that the company recently carried out a “significant reduction” in its workforce and cut other costs to give the startup “additional time to secure additional … Continue reading “Jibo Lays Off Staff Several Months After Launch of “Social Robot””
New York Fashion Tech Lab Connects Retail to Crucial Innovations
Amazon is fundamentally disrupting how and where we shop, but in-store retail still has life in it. The Seattle e-commerce giant is “a hefty competitor, but that doesn’t mean brands and retailers don’t have the ability to fight back,” says Kay Koplovitz, co-founder and managing partner of Springboard Growth Capital in New York. In fact, … Continue reading “New York Fashion Tech Lab Connects Retail to Crucial Innovations”
Allergan’s Migraine-Reducing Pill Hits Study Goals, Heads to Phase 3
An experimental Allergan pill meant to help reduce the frequency of migraines met the main goals of a key study, bolstering its chances of eventually being in the mix with a new wave of injectable migraine-preventing therapies. The results announced Monday for the Allergan (NYSE: [[ticker:AGN]]) drug, atogepant, come a month after Amgen (NASDAQ: [[ticker:AMGN]]) … Continue reading “Allergan’s Migraine-Reducing Pill Hits Study Goals, Heads to Phase 3”
CRISPR Risks? Researchers Stoke Fears of Cancer in Gene-Edited Cells
Two papers published today in Nature Medicine are raising a new potential red flag with CRISPR-Cas9 gene editing: Human cells that are successfully edited in the lab may have a genetic malfunction known to drive many types of cancer. That genetic defect occurs in the gene is p53, nicknamed the “guardian of the genome” for … Continue reading “CRISPR Risks? Researchers Stoke Fears of Cancer in Gene-Edited Cells”