When oncologist Renato Martins finished his medical training, advanced lung cancer was almost certainly a quick death sentence. “I knew, by name, every patient who had survived two years,” he says. Thanks in large part to the arrival of cancer immunotherapy, things are much different today. While lung cancer remains by far the leading cause … Continue reading “With New Data, Drug Combos, Lung Cancer Experts Scramble to Keep Pace”
Category: San Francisco
InterVision Buys Bluelock, Plans to Grow Disaster Recovery Services
Bluelock, the Indianapolis “disaster-recovery-as-a-service” startup, has been acquired by InterVision, a managed IT consultancy headquartered in St. Louis, MO, and Santa Clara, CA. The financial terms of the deal were not disclosed. Bluelock CEO Christopher Clapp says he and one of the company’s founders will be using Bluelock’s sale “as an opportunity to do a … Continue reading “InterVision Buys Bluelock, Plans to Grow Disaster Recovery Services”
Zuckerberg Fields Senate Queries On Data Privacy, Russia, Mueller
Facebook CEO Mark Zuckerberg, sitting alone at a small table, weathered hours of questioning Tuesday at a Senate committee hearing where lawmakers accused his company of everything from deceiving users and hosting hate speech to political “censorship.” Zuckerberg, sipping water, responded calmly as 44 senators peppered him with questions about political data firm Cambridge Analytica’s … Continue reading “Zuckerberg Fields Senate Queries On Data Privacy, Russia, Mueller”
Jazz Pharma’s Craig Parker Tapped for Surrozen CEO Post
Surrozen has appointed Craig Parker to serve as CEO of the South San Francisco, CA, regenerative medicines developer. Parker takes the place of Tim Kutzkey, a managing partner at The Column Group, the venture capital firm that led Surrozen’s $33 million Series A financing last year. Kutzkey will now become chairman of Surrozen’s board of … Continue reading “Jazz Pharma’s Craig Parker Tapped for Surrozen CEO Post”
Circle CEO Allaire on Bitcoin, Blockchain & the Bank of the Future
Depending on whom you talk to, cryptocurrencies could be the biggest bubble in history or the backbone of the future global economy—or both. The reality is it’s too early to say. The industry must still navigate a host of issues, including wild price swings, global regulatory uncertainty, cyber threats, and technological limitations of blockchain systems, … Continue reading “Circle CEO Allaire on Bitcoin, Blockchain & the Bank of the Future”
Expectations Rise on Q1 Surge in Venture Funding; and Top 10 Deals
[Updated 4/11/18 10:13 am. See below.] Venture capital investors poured more than $28.2 billion into U.S. companies during the first three months of 2018—marking the strongest single quarter in at least a dozen years, according to the Venture Monitor Report released today by Seattle-based PitchBook and the National Venture Capital Association (NVCA). The $28.2 billion that … Continue reading “Expectations Rise on Q1 Surge in Venture Funding; and Top 10 Deals”
Zuckerberg Faces Congress On Privacy “Mistakes,” While FTC Probe Looms
Facebook CEO Mark Zuckerberg’s trial by fire has already begun in Washington, DC, this week as he prepares to testify before two committees of Congress about the company’s failure to prevent the profiles of at least 87 million users from falling into the hands of political data firm Cambridge Analytica. Zuckerberg was already meeting in … Continue reading “Zuckerberg Faces Congress On Privacy “Mistakes,” While FTC Probe Looms”
Cybersecurity Firm Carbon Black Advances IPO After Years of Rumors
Carbon Black is moving closer to a long-anticipated initial public stock offering. The Boston-area cybersecurity company filed an S-1 document with the SEC on Monday indicating it might raise up to $100 million in an IPO, although that number could shift if Carbon Black ends up going public. It has applied to trade on the … Continue reading “Cybersecurity Firm Carbon Black Advances IPO After Years of Rumors”
E-Commerce Startups Open Door to Endless Virtual Closet
The sharing economy is moving into our bedroom closets. We already apply this idea to transportation (Uber vs. taxi) and vacation accommodations (Airbnb vs. hotel). Now, thanks to a growing number of e-commerce companies, the ability to share goods and services is being applied to our wardrobes through programs that offer clothing rentals for a … Continue reading “E-Commerce Startups Open Door to Endless Virtual Closet”
Xconomy Roadmap 2018: Top 15 Innovation Areas to Watch
With the first quarter in the books, it’s time to step back and lay out Xconomy’s editorial map for the rest of the year. As readers know, we strive to cover a wide range of innovation sectors, from tech and life sciences to healthcare and education—all with a mix of on-the-ground reporting, daily news stories, … Continue reading “Xconomy Roadmap 2018: Top 15 Innovation Areas to Watch”
Incyte, Merck Cancer Trial Failure Damages IDO Drugs’ Prospects
A late-stage clinical trial testing the combination of a Merck cancer treatment and a new type of cancer drug developed by Incyte has failed, dealing a blow to a new drug class that many hoped would expand the reach of cancer immunotherapy. The Phase 3 study in melanoma tested the FDA-approved Merck (NYSE: [[ticker:MRK]]) cancer … Continue reading “Incyte, Merck Cancer Trial Failure Damages IDO Drugs’ Prospects”
Unity Biotech Files IPO to Bring Anti-Aging Drugs into Clinical Trials
[Corrected 4/6/18, 12:32 p.m. EDT. See below.] Three weeks after Unity Biotechnology raised $55 million in financing to bring its osteoarthritis drug candidate into human testing, the anti-aging biotechnology company is now laying out plans for an initial public stock offering. San Francisco-based Unity set a preliminary $85 million target for its IPO. The company … Continue reading “Unity Biotech Files IPO to Bring Anti-Aging Drugs into Clinical Trials”
Bio Roundup: Ex-Kiters Say Allo, NASH Cash & Data, Alkermes No & More
Happy Friday, everyone. We’ll start this week with biotech deals, one featuring a couple of CAR-T heavyweights who have re-emerged after selling Kite Pharma for $12 billion. They will try to shepherd to market a different type of the promising cancer immunotherapy: allogeneic T cells that come from donors, not from a patient’s own blood. … Continue reading “Bio Roundup: Ex-Kiters Say Allo, NASH Cash & Data, Alkermes No & More”
RSA Security Agrees to Buy Behavioral Analytics Startup Fortscale
RSA Security, a Bedford, MA-based business division of Dell Technologies (NYSE: [[ticker:DVMT]]) announced on Thursday a pending deal to acquire Fortscale, a cybersecurity startup that uses behavioral analysis to detect network intrusions. RSA Security, a global cybersecurity provider for businesses, said it plans to incorporate Fortscale’s technology into a new version of its service, the … Continue reading “RSA Security Agrees to Buy Behavioral Analytics Startup Fortscale”
Cleaner Vehicles Help Make Smarter Cities
Two of the most popular terms in urban planning today are smart cities and clean energy. These concepts naturally go hand-in-hand. As cities get smarter, they use energy more efficiently and in a more controllable fashion, and they are better able to incorporate intermittent clean energy sources. Cities, and the power grids that support them, … Continue reading “Cleaner Vehicles Help Make Smarter Cities”
Lumanu Raises $1M for Tools That Amplify Social Influencers’ Posts
As social networks like Facebook (NASDAQ: [[ticker:FB]]) and Instagram continue to add millions of new users each year, businesses are fighting to capture their attention by advertising across an array of digital platforms. One marketing technique that has become increasingly popular in the past decade involves paying social media “influencers”—users with lots of followers—to promote … Continue reading “Lumanu Raises $1M for Tools That Amplify Social Influencers’ Posts”
Depomed Names Bukofzer Chief Medical & Scientific Officer
Stan Bukofzer has been named senior vice president, chief medical and scientific officer of Newark, CA-based Depomed (NASDAQ: [[ticker:DEPO]]). Bukofzer was most recently chief medical officer of Ocera Therapeutics, which was acquired by Mallinkrodt (NYSE: [[ticker:MNK]]) last year. He succeeds Santosh Vetticaden, who Depomed says decided not to relocate to the company’s new headquarters in … Continue reading “Depomed Names Bukofzer Chief Medical & Scientific Officer”
After a Year of Growth Milestones, Duo Security Opens Detroit Office
Duo Security, a cybersecurity startup based in Ann Arbor, MI, announced today that it is opening a new office in Detroit to accommodate the company’s rapidly growing business. Duo plans to immediately relocate 30 employees from the company’s engineering, information services, and product teams to work downtown in Bamboo Detroit’s co-working space. By the end … Continue reading “After a Year of Growth Milestones, Duo Security Opens Detroit Office”
Formlabs Pulls In $30M to Push Line of 3D Printers
The hype over consumer 3D printing has waned, but the case for selling the machines to businesses seems to be growing stronger—and the venture capital is pouring in. The latest to cash in is Somerville, MA-based Formlabs, which recently raised $30 million in new equity funding, according to a document filed with the SEC this … Continue reading “Formlabs Pulls In $30M to Push Line of 3D Printers”
Fatty Liver Disease Now Global, Terns Pharma Aims for NASH in China
In the race to treat the fatty liver disease known as NASH, brought on by the modern obesity epidemic, much of the attention has focused on the U.S. But a new biotech company is looking at China. Terns Pharma has raised $30 million from the Asian venture arm of Eli Lilly (NYSE: [[ticker:LLY]]) and said … Continue reading “Fatty Liver Disease Now Global, Terns Pharma Aims for NASH in China”
Virta Health Hauls in $45M to Expand “Diabetes-Reversing” Software
Virta Health, a startup that is taking a software approach to treating diabetes rather than pills or injections, has raised $45 million in funding to support its technology. San Francisco-based Virta says its software “reverses” diabetes through behavioral changes that reduce the biological measures of the disease. The company’s software platform, accessible via a mobile … Continue reading “Virta Health Hauls in $45M to Expand “Diabetes-Reversing” Software”
With $25M in Tow, 6 River Systems Aims to Advance Warehouse Robotics
The land grab in the warehouse automation market is intensifying. After Amazon (NASDAQ: [[ticker:AMZN]]) paid $775 million for Kiva Systems in 2012, it began deploying the startup’s package-toting robots in its distribution centers worldwide—and stopped selling the machines to other companies. That move helped spur a new wave of warehouse robotics startups trying to meet … Continue reading “With $25M in Tow, 6 River Systems Aims to Advance Warehouse Robotics”
Roche Buys Inception 5 MS Program, Versant Funds New Venture
When Versant Ventures, Roche, and Inception Sciences came together in 2014 to identify drugs that could repair damaged neurons, they were placing a bet on technology that amounted to a promising tool in a broader quest to find new ways to treat multiple sclerosis. Now, San Francisco-based Versant is offering validation of that bet, although … Continue reading “Roche Buys Inception 5 MS Program, Versant Funds New Venture”
How Next-Gen Chipmakers Are Raising Money, Taking On Tech Giants
The advent of big fundraising rounds for startup chip innovators—a class shunned by most venture capital firms only a few years ago—seems to mark a turnaround in recent VC attitudes about semiconductor investments. But it turns out VCs weren’t the only driving force behind the change in fundraising prospects for the young companies now inventing … Continue reading “How Next-Gen Chipmakers Are Raising Money, Taking On Tech Giants”
Ex-Kite Execs Resurface with $300M and Control of Pfizer CAR-T Cells
Arie Belldegrun and David Chang steered Kite Pharma last year to a historic FDA approval and a $12 billion bear hug from Gilead Sciences. Now they’ve re-emerged with a new startup, Allogene, which has $300 million in backing and the rights to a CAR-T cell therapy program which is quite different from the one they … Continue reading “Ex-Kite Execs Resurface with $300M and Control of Pfizer CAR-T Cells”
Reports: Walmart Wants to Buy PillPack, as Healthcare Ambitions Grow
Walmart is reportedly talking with PillPack about acquiring the online pharmacy and medication management company, a deal that would strengthen the retail giant’s healthcare offerings and potentially help it fend off Amazon if the Seattle e-commerce company starts selling prescription drugs. The PillPack acquisition talks were first reported by CNBC and later confirmed by other … Continue reading “Reports: Walmart Wants to Buy PillPack, as Healthcare Ambitions Grow”
Golden Seeds Seeks to Plant Angel Funds For Women Founders in Houston
Houston—Golden Seeds, an angel investing community that focuses on funding women entrepreneurs, has opened a chapter in Houston. The New York-based group now has six chapters around the country who have invested $150 million in 105 companies since it was founded in 2005. Loretta McCarthy, Golden Seeds’ managing partner, says the need for the organization … Continue reading “Golden Seeds Seeks to Plant Angel Funds For Women Founders in Houston”
Getting Personal: Retailers Use New Tech to Court Individual Shoppers
“Personalized shopping” has long been the guiding light for retailers. But in the age of Amazon (NASDAQ: [[ticker:AMZN]]), traditional stores have been searching for the best way to digitize what was once a person-to-person process. “Internet shopping is now across mobile and Web, and now, the [question] is, ‘How do we create great experiences for … Continue reading “Getting Personal: Retailers Use New Tech to Court Individual Shoppers”
OncoMed Pharmaceuticals Promotes John Lewicki to CEO
OncoMed Pharmaceuticals (NASDAQ: [[ticker:OMED]]) is expanding the responsibilities of its president, John Lewicki, to include chief executive. Lewicki was appointed president of the Redwood City, CA, cancer drug developer in January. With his promotion to CEO, Lewicki also joins OncoMed’s board of directors. Lewicki came to OncoMed in 2004 as senior vice president of research … Continue reading “OncoMed Pharmaceuticals Promotes John Lewicki to CEO”
Bio Roundup: Biotech IPOs, Migraine Progress, Takeda Woos Shire & More
If the recent IPO activity seems to be on overdrive, it’s not your imagination. The number of companies filing to go public in the U.S. in the first quarter was up 44 percent compared to the same period a year ago, according to data compiled by consulting and accounting firm EY. Life science companies accounted … Continue reading “Bio Roundup: Biotech IPOs, Migraine Progress, Takeda Woos Shire & More”
Bunker, Startup That Helps Insure Gig Workers, Nabs Cash from Chubb
Many people assume that the growing “gig economy” presents few barriers to entry for workers who want to, say, start driving for Uber, or shopping for the grocery delivery service Instacart. That’s true in some cases, but many independent contractors—everyone from field service technicians to software consultants—must meet a surprising number of requirements before they … Continue reading “Bunker, Startup That Helps Insure Gig Workers, Nabs Cash from Chubb”
The Edge or the Cloud? It Depends on the App
There’s no arguing that the cloud has transformed the way organizations deal with data and apps. It has freed IT departments from constantly provisioning and managing storage, while bringing overall costs down. For these reasons and more, companies everywhere are moving more and more data and compute tasks to the cloud every day. It’s important, … Continue reading “The Edge or the Cloud? It Depends on the App”
Among Facebook’s Woes, EU’s Strict Privacy Laws May Loom Largest
In a continuing effort to regain the trust of its disillusioned users, Facebook on Wednesday announced new privacy controls where settings can be made from a central menu, rather than by tunneling through as many as 20 screens. As Facebook unveiled the sweeping revisions, though, it also made a striking admission: The company knew it … Continue reading “Among Facebook’s Woes, EU’s Strict Privacy Laws May Loom Largest”
Going Downhill: Roam Robotics’ Exoskeleton Supports Aging Skiers
Robotics has found its way to the ski slopes. San Francisco-based Roam Robotics has developed an exoskeleton, worn on the legs, that the company says will improve skiers’ endurance and safety while they blaze down trails. For skiers 45 or older, Roam says, the exoskeleton can provide vital support for aging knees that might be … Continue reading “Going Downhill: Roam Robotics’ Exoskeleton Supports Aging Skiers”
Flipside Crypto Grabs $3.4M to Push Algorithms for Crypto Investing
Data-crunching algorithms have become a popular—and controversial—tool on Wall Street in recent years. Now, they’re starting to be used to guide investments in cryptocurrencies, too. The emerging strategy raises a number of interesting questions for the young and volatile cryptocurrency market. Among them: What types of data should be considered when trying to predict the … Continue reading “Flipside Crypto Grabs $3.4M to Push Algorithms for Crypto Investing”
Tempest Therapeutics Debuts with $70M to Bring Cancer Drugs to Clinic
A number of companies are trying to improve cancer immunotherapy by disrupting the ways that tumors evade the immune system. Tempest Therapeutics is now joining that group with $70 million in financing to advance its drug pipeline. Tempest is a spinoff from a drug discovery unit supported by Versant Ventures, which co-led the Series B … Continue reading “Tempest Therapeutics Debuts with $70M to Bring Cancer Drugs to Clinic”
Smartsheet Plans to Go Public as More Tech Firms Explore IPOs
Smartsheet, a developer of collaborative software that allows users to track projects and manage corporate processes, said this week it is seeking to raise $100 million as part of a planned initial public offering. Bellevue, WA-based Smartsheet’s revenues and headcount have risen sharply in recent years, though it continues to lose money on an annual … Continue reading “Smartsheet Plans to Go Public as More Tech Firms Explore IPOs”
Diane Hessan Seeks Common Ground in Era of Fake News and Facebook
When I sit down with Diane Hessan for a recent conversation, the entrepreneur, startup investor, and budding political researcher is nothing but hearty laughs, cool optimism, and earnest passion about her work. That’s despite having spent the past year and a half corresponding with hundreds of American voters on a weekly basis, during one of … Continue reading “Diane Hessan Seeks Common Ground in Era of Fake News and Facebook”
Are You Being Deliberate About Diversity in Your Investment Portfolio?
“We looked, but we couldn’t find any companies to acquire led by women or founders of color.” “I want to hire diverse talent, but it’s impossible to find.” “It’s not my fault that the financial sector doesn’t have a more varied talent pool or deals to make with non-white males.” I have heard all of … Continue reading “Are You Being Deliberate About Diversity in Your Investment Portfolio?”
FTC Opens New Probe: Revisits Its Old Charges On Facebook Privacy Practices
Among the host of legal woes Facebook is now confronting amid news about the misuse of its member profiles in election politics: The Federal Trade Commission revealed Monday that it is investigating the social media giant’s privacy practices. The FTC decision comes in the wake of recent reports about the ease with which political consulting … Continue reading “FTC Opens New Probe: Revisits Its Old Charges On Facebook Privacy Practices”
EY Report Suggests Improving Conditions for U.S. IPOs in 2018
U.S. IPO activity has been ticking up, with 36 IPOs raising more than $12.7 billion in the United States so far this year, according to data released Monday by EY, the global consulting and accounting firm. Although there are still several days remaining in the first quarter of 2018, EY reports the number of first-quarter … Continue reading “EY Report Suggests Improving Conditions for U.S. IPOs in 2018”
General Catalyst Bags $1.4B for Ninth Fund as Tech Investors Go Big
[Updated 3/27/18, 10:27 am. See below.] General Catalyst Partners is the latest venture capital firm to join the billion dollar fund club. The Cambridge, MA-based firm’s latest fund—its ninth—clocked in at $1.375 billion, according to a document filed with the SEC. That’s a significant jump from its last fundraising effort two years ago, when General … Continue reading “General Catalyst Bags $1.4B for Ninth Fund as Tech Investors Go Big”
Racing Allergan, Biohaven Touts Migraine Drug Data, But Shares Sink
Biohaven Pharmaceuticals has become the latest to head to the FDA seeking approval of a new type of migraine drug. But it’s unclear whether the treatment, rimegepant, will stand out amidst a crowd of new medicines aiming to help people fend off the debilitating headaches after they start. Biohaven (NYSE: [[ticker:BHVN]]), of New Haven, CT, … Continue reading “Racing Allergan, Biohaven Touts Migraine Drug Data, But Shares Sink”
Ada-AI Seeks to Build a Diverse Artificial Intelligence Community
Artificial intelligence innovation has become part of our everyday lives—retailers use it to tailor the product recommendations they make; biotech companies hope it can create customized medicine. But its shortcomings, born of human biases, are becoming apparent as well. Take, for example, facial recognition technologies that work best on white people and make the most … Continue reading “Ada-AI Seeks to Build a Diverse Artificial Intelligence Community”
SD Team Heads to US Ignite Summit to Advance Emergency Mobile App
A San Diego software development team with an idea for an emergency mobile app that it said would be faster than calling 911 is headed this week to US Ignite’s Application Summit in Kansas City, MO. The team (pictured above right) emerged as the judges’ top choice among 12 pre-qualified entrants that competed in San … Continue reading “SD Team Heads to US Ignite Summit to Advance Emergency Mobile App”
Qualcomm’s Paul Jacobs Offers Farewell at Shareholders Meeting
Former Qualcomm executive chairman and CEO Paul Jacobs ended his 28-year career with the telecommunications giant Friday with a heartfelt farewell at the company’s annual shareholders’ meeting. In a short speech to several hundred shareholders at Qualcomm (NASDAQ: [[ticker:QCOM]]) headquarters in San Diego, Jacobs acknowledged the role his father Irwin Jacobs played as Qualcomm’s founding … Continue reading “Qualcomm’s Paul Jacobs Offers Farewell at Shareholders Meeting”
Auris Health’s Surgical Robot Gets FDA Green Light for Lung Cancer
Auris Health is now the latest surgical robot company with the go-ahead to enter the U.S. market. The Redwood City, CA, based company, formerly known as Auris Surgical Robots, said Friday that its robotic system has cleared the FDA’s regulatory bar, allowing the system to be used for diagnosing and treating lung cancer tumors. The … Continue reading “Auris Health’s Surgical Robot Gets FDA Green Light for Lung Cancer”
Founders, Pay Attention to This Stuff—Not the Stock Market
The Dow Jones Industrial Average. Nasdaq. Startup exits. Funding rounds. In our 24/7 connected world, there’s no shortage of data you can access, study, and agonize over. The market’s latest move—from boom to correction—has commentators and analysts in a tizzy; many investors are feeling anxious, too. It’s easy to get distracted by all this chatter, … Continue reading “Founders, Pay Attention to This Stuff—Not the Stock Market”
Bio Roundup: CMS Backs Cancer Tests, Right to Try Passes, AbbVie Sinks
We’ll start this week’s roundup with several stories from Washington, DC, that could have a lasting effect on public health. The FDA continued its campaign against cigarettes, while the Centers for Medicare & Medicaid Services (CMS) gave a much-needed boost to the developers of cancer diagnostics. In its omnibus spending bill, Congress set aside more … Continue reading “Bio Roundup: CMS Backs Cancer Tests, Right to Try Passes, AbbVie Sinks”
How Will Mobility Industry Take Shape? Lux Capital’s Farshchi Weighs In
Shahin Farshchi, a partner at Silicon Valley VC firm Lux Capital, describes himself on his LinkedIn profile as a gearhead, Trekkie, and recovering engineer. He’s a Bay Area native who spent part of his career working at GM’s tech center just outside of Detroit in Warren, MI. He’s into cars, space (as in the final … Continue reading “How Will Mobility Industry Take Shape? Lux Capital’s Farshchi Weighs In”