YouTube has broadened its restrictions on gun-related videos, while thousands of Americans are mobilizing to demand stricter gun controls Saturday in a mass march spurred by young survivors of a deadly armed attack on a Florida high school last month. Google’s popular video-hosting site will bar videos that facilitate direct sales of firearms or accessories, … Continue reading “YouTube Limits Firearms Videos; Gun Rights Group Cries Censorship”
Category: San Francisco
With Competition Rising, Dropbox Now a Public Company After $756M IPO
[Updated 3/23/18, 3:35 p.m. See below.] Dropbox has raised about $756 million in its public market debut after pricing its IPO at $21 per share, according to news reports citing sources familiar with the matter. It’s the largest initial public offering for a U.S. tech company since Snap’s $3.9 billion offering a year ago. That … Continue reading “With Competition Rising, Dropbox Now a Public Company After $756M IPO”
Renaissance Learning Turns the Page with Purchase of Minnesota Firm
Renaissance Learning, a Wisconsin company that claims its cloud-based educational software is used in more than 70 countries, said earlier this week it had acquired Myon, a developer of tools designed to improve and assess students’ reading abilities. Wisconsin Rapids, WI-based Renaissance, which focuses on K-12 education, said it plans to build applications that combine … Continue reading “Renaissance Learning Turns the Page with Purchase of Minnesota Firm”
AbbVie Shares Plummet as $5.8B Bet on Stemcentrx Takes a Hit
There is still a chance that AbbVie’s $5.8 billion gamble on acquiring Stemcentrx, a privately held developer of cancer stem cell drugs, could pay off. But the deal’s prospects dimmed this morning with news that Stemcentrx’s lead drug disappointed in clinical testing, sending shares of Chicago-based AbbVie down. AbbVie (NYSE: [[ticker:ABBV]]) said that it won’t … Continue reading “AbbVie Shares Plummet as $5.8B Bet on Stemcentrx Takes a Hit”
Don’t Want Your Facebook Profile Scraped? A Do-It Yourself Fix
Facebook CEO Mark Zuckerberg tried to reassure users Wednesday that its new and old modifications will prevent the wholesale capture of millions of personal profiles, like the 50 million that fell into the hands of political consulting firm Cambridge Analytica by 2015. But an MIT team says canny software developers could still amass these profiles … Continue reading “Don’t Want Your Facebook Profile Scraped? A Do-It Yourself Fix”
Zuckerberg Says Facebook Correcting Its “Mistakes” To Protect User Profiles
Breaking his silence after a firestorm of revelations about Facebook’s links to a shadowy political consulting firm, Cambridge Analytica, Facebook founder Mark Zuckerberg announced this afternoon that the company is taking further steps to prevent unauthorized access to users’ personal information. The Facebook CEO was responding to news that data research firm Cambridge Analytica had … Continue reading “Zuckerberg Says Facebook Correcting Its “Mistakes” To Protect User Profiles”
Hungry for Innovation, Big Food Firms Seek Alliances With Startups
Big Food is getting serious about innovation. Many top food companies are increasingly pumping money into supporting young, innovative startups, according to a recent analysis by CB Insights. The firms include stalwarts like Kraft Heinz (NASDAQ: [[ticker:KHC]]), which has an incubator and accelerator program called Springboard, and relative newcomers like the Greek-style yogurt maker Chobani, … Continue reading “Hungry for Innovation, Big Food Firms Seek Alliances With Startups”
MIT Team Says Facebook Profiles Could Still Be Stolen, At Scale
If your personal Facebook profile isn’t among the 50 million allegedly pilfered by the political consulting firm Cambridge Analytica, could another company still scrape it up, along with many others? A policy research team from MIT’s Computer Science and Artificial Intelligence Laboratory (CSAIL) says yes. In a blog post published today, three MIT graduate students … Continue reading “MIT Team Says Facebook Profiles Could Still Be Stolen, At Scale”
Affectiva Launches A.I. Tech to Help Cars Sense Your Emotions
Efforts to develop self-driving vehicles have largely focused on tracking what’s going on outside the cars—think laser-based sensors to track other vehicles and digital mapping technologies to help navigate. Now, the industry is turning some of its attention to technologies that sense what’s going on inside the vehicle. An initial goal is to better monitor … Continue reading “Affectiva Launches A.I. Tech to Help Cars Sense Your Emotions”
Uber’s Driverless Fatality Sparks Fallout and Finger-Pointing
The fallout from Uber’s autonomous car fatality continues today, with a number of new developments. We’re recapping them very quickly here, and adding two reaction quotes we received from Carrie Morton, deputy director of the University of Michigan’s Mcity research facility and test bed, and Shahin Farshchi, a partner at Lux Capital, a Silicon Valley … Continue reading “Uber’s Driverless Fatality Sparks Fallout and Finger-Pointing”
AI Chip Startup Mythic Reaps $40M from SoftBank, Lockheed Venture Arms
Mythic, which last year unveiled its novel computer chip designed for artificial intelligence, announced today that it has raised $40 million in a Series B fundraising round led by the venture capital arm of Japanese telecom and tech giant SoftBank. Mythic, based in both Redwood City, CA, and Austin, TX, is one of the upstart … Continue reading “AI Chip Startup Mythic Reaps $40M from SoftBank, Lockheed Venture Arms”
Uber Suspends Driverless Testing After Fatal Accident in Arizona
The inevitable has happened. An autonomous Uber car hit a pedestrian in Tempe, AZ, and caused her death. The ride-hailing giant has suspended testing on driverless cars in Arizona, Pittsburgh, San Francisco, and Toronto, according to the New York Times. This is the first known death of a pedestrian caused by a self-driving car on … Continue reading “Uber Suspends Driverless Testing After Fatal Accident in Arizona”
Job Destroyers or Helpers? Amazon, FedEx Hiring More Robots & Humans
Advances in robotics and artificial intelligence technologies have stoked fears that machines are coming for humans’ jobs in a variety of industries. Some executives of robotics companies have tried to allay those concerns, arguing that in many cases, people’s roles will evolve, but technology won’t eliminate their jobs completely. A report by The New York … Continue reading “Job Destroyers or Helpers? Amazon, FedEx Hiring More Robots & Humans”
TwoXAR Lands $10M to Ramp Up AI-Based Drug Discovery Work
Drug discovery startup twoXAR has raised $10 million in funding to support its efforts to build a pipeline of drug candidates found by its proprietary artificial intelligence technology. SoftBank Ventures led the Series A round of financing, and was joined by the Andreessen Horowitz Bio Fund and OS Fund. Palo Alto, CA-based twoXAR has developed … Continue reading “TwoXAR Lands $10M to Ramp Up AI-Based Drug Discovery Work”
Anti-Aging Startup Unity Bio Grabs $55M, Plans First Clinical Trial
[Updated, 3/19/18, 6:32 p.m. See below.] Unity Biotechnology is trying to treat age-related diseases where it says many of them start: the production of the cellular proteins that lead to the deterioration associated with age. The startup is gearing up to test its first drug in humans and it now has $55 million to back … Continue reading “Anti-Aging Startup Unity Bio Grabs $55M, Plans First Clinical Trial”
CMS Starts to Cover Broad Cancer DNA Tests, Boosting Foundation, Thermo
The Centers for Medicare & Medicaid Services, which administers the federal Medicare insurance program, will begin covering FDA-approved diagnostic tests that scan tumors for a range of genetic mutations. The news is a boost for companies like Foundation Medicine and Thermo Fisher Scientific, who are among the few firms with such tests on the market. … Continue reading “CMS Starts to Cover Broad Cancer DNA Tests, Boosting Foundation, Thermo”
Five Unlikely Competitors in the Race for Driverless Cars: Slideshow
Now that we know autonomous vehicles are going to be a real thing, we are watching an entirely new industry unfold. Because of the sweeping societal changes that self-driving cars are likely to bring—they’ll change transportation the most, but also could affect the way we care for the elderly, live in our homes, deliver goods … Continue reading “Five Unlikely Competitors in the Race for Driverless Cars: Slideshow”
Four Developments to Watch as Embattled Qualcomm Seeks Path Forward
[Updated 3/16/18 3:30 pm. See below.] There’s never a dull moment these days at Building N, the San Diego headquarters of Qualcomm (NASDAQ: [[ticker:QCOM]]), the wireless technology giant and the world’s biggest maker of the advanced components used in smartphones. In the days since President Donald Trump preemptively killed Broadcom’s (NASDAQ: [[ticker:AVGO]]) unsolicited offer to … Continue reading “Four Developments to Watch as Embattled Qualcomm Seeks Path Forward”
Oxford BioTherapeutics Appoints Fandi Chief Medical Officer
Cancer drug developer Oxford BioTherapeutics (OBT) has appointed Abderrahim Fandi to serve in the newly created position of chief medical officer. Fandi comes to OBT from Celgene (NASDAQ: [[ticker:CELG]]). His experience also includes positions at Novartis (NYSE: [[ticker:NVS]]), Bristol-Myers Squibb (NYSE: [[ticker:BMY]]), and AstraZeneca (NYSE: [[ticker:AZN]]). U.K.-based Oxford Bio, which maintains U.S. operations in San … Continue reading “Oxford BioTherapeutics Appoints Fandi Chief Medical Officer”
Bio Roundup: DIY Biohacking, PCSK9 Data, Solid Setback & More
Drug prices are top of mind for many patients. Some of them have to cut back on basic needs just to pay for treatments that seem to rise in price each year. That made a recent announcement by Regeneron Pharmaceuticals particularly unusual. The Tarrytown, NY, drugmaker plans to cut the price of its cholesterol-lowering drug … Continue reading “Bio Roundup: DIY Biohacking, PCSK9 Data, Solid Setback & More”
Harnessing the Power of Artificial Intelligence
Voice recognition lets people benefit from artificial intelligence (AI) almost without a second thought – and this technology is increasingly popular. Amazon had record sales of its Alexa device last year, with millions sold over the holiday season. Google reports that since last October, it has sold at least one Google Home smart speaker every … Continue reading “Harnessing the Power of Artificial Intelligence”
Boston Tech Watch: Raytheon, Palantir, CyberArk, CIC, Nectome & More
[Updated 3/16/18, 8:59 am. See below.] Here are some notable recent headlines from the Boston-area tech scene, including Raytheon and Palantir teaming up for a huge Army contract, another CyberArk acquisition, and a startup that wants to digitally archive your mind. Read on for details. —Waltham, MA-based defense contractor Raytheon (NYSE: [[ticker:RTN]]) and Palantir Technologies—the … Continue reading “Boston Tech Watch: Raytheon, Palantir, CyberArk, CIC, Nectome & More”
Inclusion Gets Real: A New Level of Diversity Discourse at SXSW
Austin—There’s no question that humans have plenty of biases that carry on from generation to generation, from sexism to racism to homophobia. Those problems have carried over to machines, too—bias in the data fed to computer algorithms is an issue that comes up often. Former Stanford computer science professor Daphne Koller recalled an anecdote she … Continue reading “Inclusion Gets Real: A New Level of Diversity Discourse at SXSW”
Arcus Bio Pulls Off IPO, Raises $120M for Cancer Immunotherapies
Arcus Biosciences has raised $120 million from an initial public offering as the cancer immunotherapy developer looks ahead to reporting its first clinical data for its two lead drugs later this year. Hayward, CA-based Arcus priced its offering of 8 million shares at $15 apiece, at the high end of the $13 to $15 per … Continue reading “Arcus Bio Pulls Off IPO, Raises $120M for Cancer Immunotherapies”
Xconomy’s Napa Summit Is June 14-15: Request Your Invite Today!
Year after year, Xconomy has gathered exemplary business leaders, investors, and far-seeing technologists to our most prestigious event—The Napa Summit. This year is no different. Come join us in the heart of wine country on June 14 and 15 to listen to visionary speakers and connect with fellow innovators. The Napa Summit is by invitation-only, … Continue reading “Xconomy’s Napa Summit Is June 14-15: Request Your Invite Today!”
Charged With Fraud, Theranos CEO Elizabeth Holmes Cuts Deal with Feds
Charged with what the U.S. Securities and Exchange Commission called “massive fraud,” Theranos CEO Elizabeth Holmes has cut a deal with the agency. The SEC charged Holmes and the firm’s former president Ramesh “Sunny” Balwani with “an elaborate, years-long fraud,” in which they raised $700 million dollars from investors and enjoyed a multibillion-dollar valuation by … Continue reading “Charged With Fraud, Theranos CEO Elizabeth Holmes Cuts Deal with Feds”
Walmart Expands Same-Day Delivery, Looks to Match Amazon
At the National Retail Federation’s annual conference in January, Walmart CEO Doug McMillon called the Arkansas-based, big-box retailer a technology company. On Wednesday, Walmart (NYSE: [[ticker:WMT]]) moved to make that assertion more of a reality: upping the number of cities where it provides same-day delivery to 100 cities from six—serving about 40 percent of American households … Continue reading “Walmart Expands Same-Day Delivery, Looks to Match Amazon”
BioMarin’s Wolfgang Dummer Named Aridis Chief Medical Officer
Aridis Pharmaceuticals has appointed Wolfgang Dummer to serve as chief medical officer. Before joining the San Jose, CA, company, Dummer was vice president of clinical development at BioMarin Pharmaceutical (NASDAQ: [[ticker:BMRN]]) in Novato, CA. His experience also includes positions at Genentech and the Scripps Research Institute. Aridis develops antibody drugs to treat infectious diseases.
Kitty Hawk Who? Uber’s Best-Laid Plans for Flying Cars, Air Travel
If all goes as planned for Uber, and the company launches an air-transportation service in 2020, it will need to hire a lot of pilots. Exactly how many is a little unclear: One of the executives leading Uber’s effort to apply its ride-sharing model to air travel contended during a panel at South by Southwest … Continue reading “Kitty Hawk Who? Uber’s Best-Laid Plans for Flying Cars, Air Travel”
DTN Set to Acquire Spensa, Continuing Trend of Farm Software Deals
Spensa Technologies, a startup that has developed sensors, software, and other products that give farmers insights about their operations, is now set to become part of global digital services company DTN. Minneapolis-based DTN announced Tuesday that it has agreed to acquire Spensa, a Purdue University spinout that operates from West Lafayette, IN. The companies disclosed … Continue reading “DTN Set to Acquire Spensa, Continuing Trend of Farm Software Deals”
No Self-Editing: Biohacker Josiah Zayner Can’t Stop Living Out Loud
Gene editing has arrived. Of the various forms of the technology, CRISPR-Cas9 is the easiest to use, and it’s already showing up in summer camps and school science labs near you. That would be middle schools. When everyone can edit an organism’s genes, how will the world change? Should we be worried? National security officials … Continue reading “No Self-Editing: Biohacker Josiah Zayner Can’t Stop Living Out Loud”
Too Many Venture Capital Cooks in the Kitchen?
At Correlation Ventures, we spend a fair amount of time using our proprietary database to identify the telltale signs of successful startups. One question we asked recently is whether there are diminishing returns for adding VCs to the board of directors at venture-backed startups. Many of us have seen highly effective boards where experienced and … Continue reading “Too Many Venture Capital Cooks in the Kitchen?”
President Trump Prohibits Broadcom from Acquiring Qualcomm
In a surprising statement late today from the White House, President Donald Trump unilaterally prohibited Broadcom’s proposed takeover of Qualcomm (NASDAQ: [[ticker:QCOM]]), the world’s biggest maker of chips for smartphones. Citing a recommendation from a national security panel and other factors set forth under federal law, the statement also proclaims that all candidates that Broadcom … Continue reading “President Trump Prohibits Broadcom from Acquiring Qualcomm”
A.I. Is Advanced, But Decades From Singularity and Elon Musk’s Fears
Austin—The future of artificial intelligence and its applications for businesses, consumers, and life in general remain murky. Last year at South by Southwest, prognosticator Ray Kurzweil discussed his prediction that A.I. would have human-level intelligence by 2029. This year, Adam Cheyer, the co-founder of Siri, said he thinks it’ll take a bit longer. “In my … Continue reading “A.I. Is Advanced, But Decades From Singularity and Elon Musk’s Fears”
The Minority Venture Capital Opportunity
This year marks the 30th Anniversary of the historic billion-dollar leveraged buyout of Beatrice Foods, put together by African-American business pioneer Reginald Lewis. As recently profiled in the PBS Documentary “Reginald Lewis and the Making of a Billion Dollar Empire,” Lewis was a business icon who paved the way for minority investors to ascend to … Continue reading “The Minority Venture Capital Opportunity”
Gilead CSO Bischofberger to Step Down, McHutchison Named Successor
Norbert Bischofberger, executive vice president of research and development and chief scientific officer of Gilead Sciences (NASDAQ: [[ticker:GILD]]), is stepping down after nearly 30 years with the company. Foster City, CA-based Gilead says Bischofberger will leave his position at the end of April but remain with the company through July. John McHutchison, who is currently … Continue reading “Gilead CSO Bischofberger to Step Down, McHutchison Named Successor”
Orexigen’s Weight-Loss Roller Coaster to End With a Bankruptcy Sale
Orexigen Therapeutics has filed for bankruptcy to sell its weight loss pill to the highest bidder. The news follows years of ups and downs for Orexigen, which piled up debt as it struggled to successfully market its obesity drug, known as Contrave. Orexigen (NASDAQ: [[ticker:OREX]]) has filed for Chapter 11 protection, which shields companies from … Continue reading “Orexigen’s Weight-Loss Roller Coaster to End With a Bankruptcy Sale”
Despite Pharma Ties, Some Patient Groups Protest High Drug Prices
For 20 years, Deborah Long (pictured) has been relying on powerful drugs to keep her multiple sclerosis in check. Her out-of-pocket costs were pretty reasonable until two years ago, she says, when she had to switch insurance companies. Her new insurer made her switch to a different drug, Copaxone. When she tried to fill the … Continue reading “Despite Pharma Ties, Some Patient Groups Protest High Drug Prices”
Regeneron to Slash Price of Cholesterol Drug After Showing It Saved Lives
Regeneron Pharmaceuticals and partner Sanofi report new data this morning from a large, highly-anticipated trial suggesting that their drug alirocumab (Praluent) may reduce the risk of death for people with high cholesterol who have recently suffered heart attacks or strokes and are at risk of having another one or dying. And in an unusual move, Regeneron—based … Continue reading “Regeneron to Slash Price of Cholesterol Drug After Showing It Saved Lives”
“Pharma Bro” Martin Shkreli Gets Seven Years for Securities Fraud
Outspoken former pharmaceutical executive Martin Shkreli will serve seven years in prison, a sentence handed down Friday following securities fraud convictions related to two hedge funds and a drug company that he once ran. The judge in the case said Shkreli will receive credit for time served since September, when his bail was revoked, Bloomberg … Continue reading ““Pharma Bro” Martin Shkreli Gets Seven Years for Securities Fraud”
Price Check on Aisle 3: Grocers Use A.I., Devices to Battle Amazon
[Updated 3/13/18 1:07 pm. See below.] If a shopper interacts with technology in a typical grocery store, it’s usually at the very end—as they are paying for their items. That could be about to change, though. “Scanning loyalty cards at checkout is a lost opportunity,” says Eliahu Sussman, marketing manager at Aila Technologies, a Boston-area maker … Continue reading “Price Check on Aisle 3: Grocers Use A.I., Devices to Battle Amazon”
Bio Roundup: Trump Health, Cholesterol Wars, 23andMe OK & More
Trump administration health officials were out on the stump this week, talking tough about drug prices and healthcare value, encouraging the private sector to take the lead but letting everyone know the federal government is willing to push. In the debate over high drug prices, arguably no class of drug has been punished more by … Continue reading “Bio Roundup: Trump Health, Cholesterol Wars, 23andMe OK & More”
Ousted Uber CEO Travis Kalanick Re-Emerges With New Investment Fund
When you’re trying to put the past behind you and make a fresh start, it doesn’t hurt to have $1.4 billion in your pocket. Travis Kalanick, the Uber co-founder who was pressed to resign as CEO during a year of turmoil for the ride-hailing giant, became a billionaire when he sold nearly 30 percent of … Continue reading “Ousted Uber CEO Travis Kalanick Re-Emerges With New Investment Fund”
Playboy Article: Detroit is “Silicon Valley of Smart Mobility Tech”
We’ve all heard the cliche about reading Playboy only for its articles, but it turns out that the magazine really does have some stellar reporting. On Monday, Playboy posted an article that brings some validation to southeast Michigan’s role in the development of autonomous vehicles. Titled “Detroit is Becoming the Silicon Valley of Smart Mobility … Continue reading “Playboy Article: Detroit is “Silicon Valley of Smart Mobility Tech””
AbbVie’s Steve England Joins 3Scan as Chief Science Officer
3Scan has appointed Steve England to serve as the San Francisco company’s chief science officer. England most recently worked at AbbVie (NYSE: [[ticker:ABBV]]), where he led a team focused on therapy development and emerging technology. His experience also includes drug discovery positions at AstraZeneca (NYSE: [[ticker:AZN]]) and Pfizer (NYSE: [[ticker:PFE]]). 3Scan uses automation, machine learning, … Continue reading “AbbVie’s Steve England Joins 3Scan as Chief Science Officer”
After Escher Exit, MIT Sandbox Aims to Mold More Student Startups
[Editor’s note: This is part of a series of stories examining entrepreneurship on MIT’s campus and beyond.] When Escher Reality announced in February that it had been acquired by Niantic, the augmented reality company that created Pokémon Go, it was a big win for the young, six-person startup born at MIT. It also provided some … Continue reading “After Escher Exit, MIT Sandbox Aims to Mold More Student Startups”
Cyteir Bags $29M to Tap “Self Destruct” in Cancers, Immune Diseases
The rapid growth of cancer cells actually damages them, leading them to rely on internal repair mechanisms. Scientists are finding ways to disrupt these repair features to fight the disease, and their research is leading to a growing crop of startups. Among them: Cambridge, MA-based Cyteir Therapeutics, which has just raised $29 million from Venrock, … Continue reading “Cyteir Bags $29M to Tap “Self Destruct” in Cancers, Immune Diseases”
Esperion Touts Low Cholesterol Drug Price, But Not All Data are Ready
The cholesterol brawl is heating up again. A pair of next-generation cholesterol-lowering drugs known as PCSK9 inhibitors came to market in 2015 and have since struggled to gain traction. Now Ann Arbor, MI-based biotech Esperion Therapeutics (NASDAQ: [[ticker:ESPR]]) thinks it can do with a once-a-day pill called bempedoic acid what the PCSK9 blockers have not: … Continue reading “Esperion Touts Low Cholesterol Drug Price, But Not All Data are Ready”
Atomwise Raises $45M To Grow AI-Driven Drug Discovery Business
Atomwise, a San Francisco startup that’s using artificial intelligence to hunt for compounds that could make effective new drugs, announced today that it raised a $45 million Series A round. The small company, founded in 2012, mines the accumulated data about biochemical interactions to search for molecules with the properties needed to block faulty processes … Continue reading “Atomwise Raises $45M To Grow AI-Driven Drug Discovery Business”
Five Questions For: Melinda Richter, Global Head at JLabs
Healthcare innovation is very personal for Melinda Richter. She was an ambitious 26-year-old, posted by a global telecom company to Beijing as part of its fast-track leadership program. “I had the express intent of being president one day,” she says. “I thought I had the world by the tail.” But during a walk in the … Continue reading “Five Questions For: Melinda Richter, Global Head at JLabs”