Last month, the University of Michigan hosted a daylong conference about the economic and social impacts of future mobility, when autonomous and connected vehicles will likely upend transportation as we know it. Because the research associated with autonomous vehicles and other mobility applications is ambiguous—with many experts having differing opinions on when and how self-driving … Continue reading “Silicon Valley, Detroit Need Each Other to Get Driverless Cars Humming”
Category: San Francisco
Circle Grabs $110M, Will Launch U.S. Dollar-Backed Cryptocurrency
The founders of Circle Internet Financial have a lofty vision for the nascent world of cryptocurrencies and blockchain systems—and their startup’s role in it. Now, they have more resources to try and execute that vision. Boston-based Circle announced Tuesday it raised $110 million in a Series E equity funding round, and it plans to launch … Continue reading “Circle Grabs $110M, Will Launch U.S. Dollar-Backed Cryptocurrency”
Adicet Bio Names Elizabeth Read Chief Technology Officer
Elizabeth Read has been appointed chief technology officer of Adicet Bio. Read comes to Menlo Park, CA-based Adicet from Medeor Therapeutics, where she was senior vice president, product development. Her experience also includes management roles at StemCyte, Fate Therapeutics, and the American Red Cross. Pre-clinical stage Adicet is developing cancer immunotherapies.
A Need for Speed: Illumina Acquires San Diego’s Edico Genome
With the Bio-IT World Conference opening today in Boston, San Diego-based Illumina (NASDAQ: [[ticker:ILMN]]) said it has acquired Edico Genome, a five-year-old startup with technology to accelerate the readout of next-generation sequencing data. Illumina withheld terms of the deal in a statement released this morning. But an Illumina spokeswoman later confirmed that Illumina got Edico … Continue reading “A Need for Speed: Illumina Acquires San Diego’s Edico Genome”
The Revolution in Inflammation Drug Development
Chronic autoimmune and inflammatory diseases are painful and often lifelong conditions. I know this both as a scientist and a father, as my son, Jeremy, was diagnosed 12 years ago with Crohn’s disease, one type of inflammatory bowel disease (IBD). According to the National Institutes of Health, there are more than 80 autoimmune diseases affecting … Continue reading “The Revolution in Inflammation Drug Development”
Arch’s Bob Nelsen on Big Biotech and Why Pharma Should Be Very Afraid
Arch Venture Partners co-founder and managing director Bob Nelsen is widely regarded as one of the most astute and successful life science investors and company builders in the game. The list of his portfolio company wins (if you think of raising money, going public, or being acquired as a win, which he doesn’t necessarily, read … Continue reading “Arch’s Bob Nelsen on Big Biotech and Why Pharma Should Be Very Afraid”
Boston VC Fundraising News: OpenView, CRV, Material Impact
[Updated 5/14/18, 2:25 pm. See below.] Boston-area venture capitalists are stocking up on cash to invest in more startups. Here is the latest fundraising news: —OpenView Venture Partners appears to have raised nearly $297 million for its fifth fund, according to a new SEC filing. That exceeded the $250 million target OpenView disclosed in a … Continue reading “Boston VC Fundraising News: OpenView, CRV, Material Impact”
Beam Therapeutics Spotlights CRISPR 2.0 with Precise Gene Editor, $87M
The founders of CRISPR-Cas9 startup Editas Medicine have gotten a jump on the next version of CRISPR gene editing. Scientists from Harvard University, Massachusetts General Hospital, and the Broad Institute are behind Beam Therapeutics, which today announced a $87 million Series A round to turn a more precise version of CRISPR into human medicine. The … Continue reading “Beam Therapeutics Spotlights CRISPR 2.0 with Precise Gene Editor, $87M”
Menlo Therapeutics Moves Paul Kwon to Chief Scientific Officer
Paul Kwon, the chief medical officer of Menlo Therapeutics (NASDAQ: [[ticker:MNLO]]) for the past two years, will now become the Redwood City, CA, company’s chief scientific officer. In a related move, Mary Spellman, senior vice president of clinical development, will be promoted to chief medical officer. Menlo, which completed its initial public offering earlier this … Continue reading “Menlo Therapeutics Moves Paul Kwon to Chief Scientific Officer”
Trump Pledges Lower Drug Prices, But Blueprint Is Short on Details
[Editor’s note: Corie Lok co-authored this report.] In a much anticipated speech at the White House this afternoon, President Trump unveiled a long-awaited plan meant to cut the cost of prescription drugs in the U.S. The administration’s “American Patients First” plan, released via a speech and an accompanying 38-page “blueprint” document, laid out some relatively … Continue reading “Trump Pledges Lower Drug Prices, But Blueprint Is Short on Details”
“Unseen Is Unsold:” VR & Analytics Study What and Why Shoppers Buy
Humans are great about saying a lot of things. We’re not that good about actually following through. See: New Year’s diet resolutions or election polls. That tendency affects retailers as well. Big stores and brands spend millions in market research to figure out what shoppers want and then model production and creative teams to create those … Continue reading ““Unseen Is Unsold:” VR & Analytics Study What and Why Shoppers Buy”
Bio Roundup: Moderna’s Billions, Cytokine Bets, Shire Acquired & More
Cytokine therapies for cancer aren’t new but they are attracting renewed interest. Some pharmaceutical companies see drug combinations using cytokines as a way to broaden the reach of immunotherapy, which still doesn’t work for the majority of cancer patients. This week, Eli Lilly (NYSE: [[ticker:LLY]]) showed how much it believes in cytokines. The Indianapolis drug maker … Continue reading “Bio Roundup: Moderna’s Billions, Cytokine Bets, Shire Acquired & More”
New CEO in Driver’s Seat as Autonomic Scales Up Mobility Cloud
Autonomic, the Silicon Valley startup acquired in February by Ford Smart Mobility, announced growth plans for its Web-based transportation app development platform today, and a reshuffling of its leadership team. The new CEO is Gavin Sherry, who will steer an expansion of the Ford subsidiary’s Transportation Mobility Cloud, a software development hub that will be … Continue reading “New CEO in Driver’s Seat as Autonomic Scales Up Mobility Cloud”
Mallinkrodt’s Gary Phillips Joins OrphoMed as President & CEO
Gary Phillips has been named president and CEO of San Francisco-based OrphoMed. Phillips comes to OrphoMed from Mallinckrodt Pharmaceuticals (NYSE: [[ticker:MNK]]) where he was executive vice president and chief strategy officer. With the Phillips hire, OrphoMed’s founder, Nikhilesh Singh, is taking on the newly created position of chief scientific officer. OrphoMed’s lead drug, ORP-101, is … Continue reading “Mallinkrodt’s Gary Phillips Joins OrphoMed as President & CEO”
USA Today Owner Gannett to Buy Digital Marketer WordStream for $130M
WordStream, one of the veterans of Boston’s digital marketing sector, is being acquired by Gannett, the publisher of USA Today and a network of local newspapers around the country. McLean, VA-based Gannett (NYSE: [[ticker:GCI]]) said it has agreed to pay $130 million in cash, net of cash acquired, plus up to $20 million in additional … Continue reading “USA Today Owner Gannett to Buy Digital Marketer WordStream for $130M”
With $1.6B Armo Buy, Eli Lilly Is the Latest to Bet Big on Cytokines
Eli Lilly is making a splash in the fast-moving, highly competitive field of cancer immunotherapy. With a $1.6 billion cash deal to acquire Armo BioSciences, the Indianapolis company has placed one of the boldest bets yet that cytokine drugs could be critical in expanding immunotherapy’s reach. This morning, Lilly (NYSE: [[ticker:LLY]]) agreed to pay $50 … Continue reading “With $1.6B Armo Buy, Eli Lilly Is the Latest to Bet Big on Cytokines”
Roche-Exelixis Study Fails as Mixed Year Continues For Cancer Drug Combos
This year is a big one for cancer drug combinations, and the results, so far, have been mixed. Some combinations have shown they may change how certain cancers are treated. Others are falling flat in clinical testing. The latest to come up short is a regimen of Roche/Genentech and Exelixis cancer drugs that failed a … Continue reading “Roche-Exelixis Study Fails as Mixed Year Continues For Cancer Drug Combos”
Fuze Bags $150M as Business Communications Competition Heats Up
Another year, another $100 million-plus funding round for Fuze, the cloud-based business communications software company. Boston-based Fuze said Wednesday evening that it recently raised a $150 million equity funding round led by Summit Partners, which was joined in the investment by other previous Fuze backers, including Bessemer Venture Partners. Fuze pulled in a $134 million … Continue reading “Fuze Bags $150M as Business Communications Competition Heats Up”
Intel Capital Showcases 12 Startups, Shift to Data-Centric Strategy
The temperature in California’s Palm Desert hit 107 degrees Tuesday, but indoors at Intel Capital’s Global Summit meeting, the corporate venture arm said it has invested a cool $115 million so far this year. Intel Capital wasn’t ready to disclose exactly how many startups it has funded, but it highlighted a dozen tech companies that … Continue reading “Intel Capital Showcases 12 Startups, Shift to Data-Centric Strategy”
Intel Leads $20M Investment in Transparent A.I. Startup Gamalon
Gamalon, a startup that says it has developed artificial intelligence-like software that avoids some of the drawbacks of popular machine learning techniques, has received a big endorsement of its approach. On Tuesday, the Cambridge, MA-based company announced a $20 million Series A funding round led by Intel Capital. Other backers of the round included .406 … Continue reading “Intel Leads $20M Investment in Transparent A.I. Startup Gamalon”
Moderna’s Billions: Will Building Big Before an IPO Pay Off?
When Merck invested $125 million and deepened its ties with Moderna Therapeutics last week, it was more than just an evolution of the relationship between the two companies. It continued a high-stakes strategy by Cambridge, MA-based Moderna and its backers, and made them a case study for a rarely used method of company-building in biotech: … Continue reading “Moderna’s Billions: Will Building Big Before an IPO Pay Off?”
ThoughtSpot Nabs $145M To Democratize A.I.-Driven Data Analysis
ThoughtSpot, which enables its clients’ ordinary staffers to conduct advanced data analysis to inform their business decisions, announced today that it has raised $145 million in a Series D funding round. The big funding infusion will help ThoughtSpot expand its global customer base, and it’s also good news for the company’s R&D and commercialization centers … Continue reading “ThoughtSpot Nabs $145M To Democratize A.I.-Driven Data Analysis”
Fictiv Raises $15M To Connect Tech Innovators & Parts Manufacturers
Fictiv, a San Francisco software startup that links hardware developers with parts manufacturers in China, announced Tuesday that it has raised $15 million in a Series B funding round led by a China-based investment firm, alongside investments from well-known American tech backers such as Bill Gates and Intel. Fictiv’s goal is to speed up the … Continue reading “Fictiv Raises $15M To Connect Tech Innovators & Parts Manufacturers”
Seismic Acquires Savo Group, Rival in Sales Enablement Software
[Updated 5/8/18 9:30 am. See below.] In the eight years since it was founded, Seismic has become a leader in the market for Web-based software used by corporations and other big customers to manage the online marketing materials created to support sales reps in the field. Today, the San Diego software-as-a-service company says it has agreed … Continue reading “Seismic Acquires Savo Group, Rival in Sales Enablement Software”
Atreca Names Orwin CEO, Serafini Becomes Chief Strategy Officer
Atreca has appointed John Orwin to serve as president and CEO of the Redwood City, CA, drug developer. He is also joining the company’s board of directors. Orwin must recently served as CEO of Relypsa, also based in Redwood City. He takes the place of Tito Serafini, Atreca’s co-founder. Serafini is shifting to the newly … Continue reading “Atreca Names Orwin CEO, Serafini Becomes Chief Strategy Officer”
Drive.AI Launches Pilot Program of Self-Driving Vehicles in Texas
Frisco, TX—Self-driving vehicles are coming to car-crazy Texas. San Francisco-based drive.AI announced on Monday a partnership with the city of Frisco, TX, and private developer Hall Group, which plans to start a driverless car service in July. Four bright-orange vans—the same vehicles that serve as New York taxis—will be part of a six-month pilot project … Continue reading “Drive.AI Launches Pilot Program of Self-Driving Vehicles in Texas”
Will New Study Cut Guesswork for Depression Medicine Prescriptions?
[Updated 5/7/18, 5pm ET. See below.] Genetic testing that helps guide more precise cancer treatment is making its way into standard practice in major U.S. medical centers. Could the same eventually be true for depression? One test maker thinks it has finally gathered enough evidence to convince psychiatrists to order its product and make more … Continue reading “Will New Study Cut Guesswork for Depression Medicine Prescriptions?”
Mesosphere Raises $125M To Automate App Operations for Businesses
Mesosphere, which helps businesses deploy advanced apps and automate operations within their IT infrastructure, announced Monday that it has raised $125 million in a Series D funding round. San Francisco-based Mesosphere aims to make it easier even for non-tech companies, such as retailers and cruise ship lines, to develop new digital features, such as streaming … Continue reading “Mesosphere Raises $125M To Automate App Operations for Businesses”
Renaissance Learning to Get New Private Equity Owner, Change CEOs
A California private equity firm that has previously bought and sold education software businesses has agreed to acquire Wisconsin Rapids, WI-based Renaissance Learning, the company said Thursday. Renaissance is being sold by one San Francisco-based private equity firm (Hellman & Friedman) to another (Francisco Partners), Renaissance said. The company did not include any specific financial … Continue reading “Renaissance Learning to Get New Private Equity Owner, Change CEOs”
Duo CEO Says New Detroit Office is Chance to Learn, Grow & Engage
Duo Security, the cybersecurity startup valued at just over $1 billion, has offices in Michigan, Texas, California, and the United Kingdom. It could have chosen anywhere on Earth to locate its newest outpost, announced last month, but the company chose Detroit. In a city hungry for opportunities with loads of innovation in its DNA, it … Continue reading “Duo CEO Says New Detroit Office is Chance to Learn, Grow & Engage”
FDA Approval of Portola Drug Puts Firm in Line for $100M Payday
The FDA has approved a Portola Pharmaceuticals drug that reverses the effect of blood thinners in cases of life-threatening bleeding. The decision comes two years after the regulator rejected the drug due to manufacturing concerns. The agency still has some concerns about the drug, andexanet alfa (Andexxa). The drug’s label must carry a boxed warning … Continue reading “FDA Approval of Portola Drug Puts Firm in Line for $100M Payday”
Venture Firms to New York Wedding Startup Zola: ‘I Do’ to $100M
Most wedding registries are focused on the lead-up to the day of the ceremony. New York startup Zola also sees opportunity in connecting with—and making a sales pitch to—married couples years after they’ve tied the knot. Zola is an “e-commerce business disguised as a wedding company,” said Shan-lyn Ma, the startup’s founder and CEO, in … Continue reading “Venture Firms to New York Wedding Startup Zola: ‘I Do’ to $100M”
CEO Salzman, CMO Contouriotis Resign from Adverum Biotechnologies
Amber Salzman has resigned from her position as president and CEO of Adverum Biotechnologies (NASDAQ: [[ticker:ADVM]]) effective May 3. She has also stepped down from the Menlo Park, CA, gene therapy developer’s board. Adverum said in a securities filing that the resignation was a mutual decision as the board and Salzman agreed that the company is … Continue reading “CEO Salzman, CMO Contouriotis Resign from Adverum Biotechnologies”
Bio Roundup: IDO Fallout, Express Scripts Dumps Amgen, Isaly Out & More
Here’s a case study of how fast things can change in biopharma. For a few years, a type of cancer drug called an IDO inhibitor was all the rage, a promising path to expanding the reach of immunotherapy. Major drug makers were dealing, too. Through acquisitions and alliances, they rolled out a spate of large-scale … Continue reading “Bio Roundup: IDO Fallout, Express Scripts Dumps Amgen, Isaly Out & More”
Carbon Black Raising $152M as Tech IPOs Stage Comeback
Into the breach goes Carbon Black. The Waltham, MA-based cybersecurity company said Thursday night that it is raising $152 million in an initial public stock offering by selling 8 million shares of its common stock at $19 per share. That gives Carbon Black an implied valuation of more than $1.2 billion. Carbon Black said its … Continue reading “Carbon Black Raising $152M as Tech IPOs Stage Comeback”
Toyota Research Institute to Open New Driverless Car Test Bed in MI
The state of Michigan notched another mobility-industry win today when the Toyota Research Institute (TRI) announced that a 60-acre parcel in Ottawa Lakes, MI, will be the home of a new autonomous vehicle development and testing facility, the first dedicated exclusively to TRI’s use. TRI is Toyota’s research arm, which aims to enhance the safety of … Continue reading “Toyota Research Institute to Open New Driverless Car Test Bed in MI”
Invenra Partners with Exelixis to Develop New Antibody Cancer Drugs
Invenra, a biotech startup that develops therapeutic antibodies for pharma companies, is joining forces with a Bay Area company to discover and develop new treatments for cancer. Madison, WI-based Invenra’s announcement late Wednesday that it will partner with South San Francisco, CA-based Exelixis (NASDAQ: [[ticker:EXEL]]) said that the companies will develop as many as seven … Continue reading “Invenra Partners with Exelixis to Develop New Antibody Cancer Drugs”
Spyce, MIT-Born Robotic Kitchen Startup, Launches Restaurant: Video
The Thai chicken bowl from Spyce Food’s new restaurant in downtown Boston wasn’t life-changing, but it’s one of the better meals I’ve had from a “fast casual” restaurant—and certainly the best I’ve had that was prepared mostly by robots. OK, it’s the first meal I’ve eaten that was cooked by a robotic system, with help … Continue reading “Spyce, MIT-Born Robotic Kitchen Startup, Launches Restaurant: Video”
With $59M, Casma and Ex-Constellation CEO Take Aim at Cellular Trash
Scientists have known for decades that cells can recycle their own trash, but they’ve only recently started to figure out how. Casma Therapeutics is trying to prove that those insights could be useful in treating a wide range of diseases. Formed by Third Rock Ventures, Casma has secured a $58.5 million Series A round and … Continue reading “With $59M, Casma and Ex-Constellation CEO Take Aim at Cellular Trash”
Unity Biotech IPO Raises $85M to Test Drugs for Diseases of Aging
Unity Biotechnology has yet to show that its drugs can treat diseases of aging in humans, but it now has $85 million to start those tests. The Brisbane, CA, drug developer priced its initial public offering late Wednesday by selling 5 million shares at $17 apiece, the midpoint of the $16 to $18 range it … Continue reading “Unity Biotech IPO Raises $85M to Test Drugs for Diseases of Aging”
Cord-Cutting for Kids: Video App Kanopy Adds Free Children’s Shows
If you’ve already liberated yourself from a cable subscription in favor of streaming video services over the Internet, you’re parcelling out your dollars to get the content you want most from services such as Netflix, Hulu, and N.B.A. League Pass. A lesser-known option, Kanopy, offers an unusual streaming subscription deal: Pay nothing, because your university … Continue reading “Cord-Cutting for Kids: Video App Kanopy Adds Free Children’s Shows”
Refuge Bio Turns to China for $25M Financing of Precision CRISPR R&D
Refuge Biotechnologies, a company researching ways to use CRISPR gene editing to make cancer treatment more precise, has raised $25 million in financing to continue work on its preclinical drug pipeline. China-based 3SBio and Sequoia China led the Series B round of investment in the Menlo Park, CA, company. CRISPR-Cas9 technology uses modified versions of … Continue reading “Refuge Bio Turns to China for $25M Financing of Precision CRISPR R&D”
Soft Robotics Scoops Up $20M in Latest Logistics Automation Deal
Venture investment in logistics robot companies keeps coming. Today, Cambridge, MA-based Soft Robotics said it has raised $20 million in a new funding round led by Hyperplane Venture Capital. The deal brought in a slew of new investors, including Scale Venture Partners, Calibrate Ventures, Honeywell Ventures, Tekfen Ventures, and Yamaha Motor Ventures. They’re all looking … Continue reading “Soft Robotics Scoops Up $20M in Latest Logistics Automation Deal”
California’s Top Court Sets Tougher New Rules on Hiring “Gig Workers”
California employers who classify their workers as independent contractors will be consulting their lawyers today, says A. Mark Pope, an attorney who helped persuade the state’s highest court to establish sweeping new restrictions on hiring so-called “gig workers.” The California Supreme Court on Monday set new standards that will make it harder for companies in … Continue reading “California’s Top Court Sets Tougher New Rules on Hiring “Gig Workers””
Moving Beyond Obesity, Vivus Strikes $135M Deal for Digestive Drug
Sales of weight loss drugs have been light, and the Vivus drug Qsymia is no exception. Facing declining revenue as well as a looming mountain of debt, Vivus has been casting about for a new strategy. It looks like it’s found one. Campbell, CA-based Vivus (NASDAQ: [[ticker:VVUS]]) has agreed to pay $135 million for the … Continue reading “Moving Beyond Obesity, Vivus Strikes $135M Deal for Digestive Drug”
What’s For Lunch? ZeroCater Nabs $12M to Meet Corporate Catering Needs
Many employees at young startups end up with multiple roles. Arram Sabeti says “ordering lunches was by far the most painful hat I was wearing.” Finding a restaurant that everyone agreed on took more time than placing a lunch order should, he says. That experience led him to found ZeroCater, which uses software and analytics … Continue reading “What’s For Lunch? ZeroCater Nabs $12M to Meet Corporate Catering Needs”
Toast Launches Restaurant Payments Device to Take on Samsung, Square
[Corrected 5/1/18, 9:59 am. See below.] Toast, one of the biggest venture-backed startup bets in Boston, is getting more ambitious with its restaurant technology products. The seven-year-old company sells cloud-based software that can handle a range of tasks for eateries, including executing payments, either through computers at the counter or right at the table with … Continue reading “Toast Launches Restaurant Payments Device to Take on Samsung, Square”
Three Lessons Punk Rock Teaches Us About Being a Business Leader
Inspiration comes in many forms, and as an entrepreneur, I found mine early on in an unusual place: punk rock. There are strong parallels between the business of punk rock and startups. When you’re starting a new business venture, you wear many hats—leader, innovator, developer, marketer, HR rep—with very little budget or certainty. You might … Continue reading “Three Lessons Punk Rock Teaches Us About Being a Business Leader”
Express Scripts Picks Regeneron Over Amgen, Cuts Heart Drug Price
Regeneron Pharmaceuticals and partner Sanofi have cut an unusual deal with Express Scripts, the nation’s largest drug-buying middleman. The two drug makers will cut the price of their $14,000-a-year cholesterol-lowering therapy alirocumab (Praluent). In return, Express Scripts will quickly approve treatment requests. The deal also sidelines Amgen, whose rival heart drug evolocumab (Repatha) will no … Continue reading “Express Scripts Picks Regeneron Over Amgen, Cuts Heart Drug Price”
Why “Micro-Learning” is the New Diploma For Today’s Jobseekers
You’d be hard-pressed to find a workplace today where using technology isn’t an integral part of the job, whether it’s an AI-powered recruiting tool, special coding software for app development, or even just Google Sheets that help workers keep track of budgets. Whether you’re applying for a position in marketing or in the field of … Continue reading “Why “Micro-Learning” is the New Diploma For Today’s Jobseekers”