[Updated 10/6/17, 8:09 am. See below.] Houston—As Hurricane Harvey whirled toward the Texas Gulf Coast, a volunteer group of techies in Texas and other parts of the country gathered in a Slack channel to develop tools that could help with rescue, recovery, and relief efforts. Nearly six weeks later, that group of volunteers—with some coming … Continue reading “As Relief Moves to Recovery, Questions About FEMA’s Tech Corps”
Category: San Francisco
Strata Oncology, UCSF Partner to Offer $25M in Free Tumor Sequencing
Ann Arbor, MI-based Strata Oncology this week announced a new partnership with the University of California, San Francisco, to provide $25 million in free tumor sequencing nationwide for men with metastatic prostate cancer. Called StratifyProstate, the initiative aims to dramatically increase enrollment in relevant precision medicine trials, says Strata CEO Dan Rhodes. Despite the significant promise … Continue reading “Strata Oncology, UCSF Partner to Offer $25M in Free Tumor Sequencing”
Palleon Lands $48M to Develop New Type of Checkpoint Cancer Drug
[Corrected 10/4/17, 9:11 a.m. See below.] A Waltham, MA biotech aiming to activate more parts of the immune system in the fight against tumors announced a $47.6 million Series A round of funding from a syndicate of corporate investors. Palleon Pharmaceuticals is developing three antibodies that aim to reactivate immune system activity after having been … Continue reading “Palleon Lands $48M to Develop New Type of Checkpoint Cancer Drug”
AltspaceVR Finds New Home in Microsoft’s Mixed Reality Ecosystem
AltspaceVR, one of the forerunners of shared social experiences in virtual reality spaces, has been saved from extinction by Microsoft, which announced Tuesday that it is acquiring the four-year-old company. The Redwood City, CA-based startup had sounded its own death knell on July 28, announcing that it planned to shut down Aug. 3 due to the … Continue reading “AltspaceVR Finds New Home in Microsoft’s Mixed Reality Ecosystem”
After Buyout, Grommet CEO Pieri Says: “Ace Wants Us to Be Ourselves”
For Jules Pieri, the purchase of a majority stake in her company, The Grommet, by Ace Hardware was perhaps preordained. “How fitting is it that our company is named after a humble piece of hardware?” she asks. “There is some destiny at work here.” Also at work was a year-long partnership with the national cooperative … Continue reading “After Buyout, Grommet CEO Pieri Says: “Ace Wants Us to Be Ourselves””
Ultragenyx Sweetens Offer, Dimension Tx Agrees to $151M Acquisition
Two weeks after making a surprise bid for Dimension Therapeutics, Ultragenyx Pharmaceutical is now set to acquire the gene therapy company in a deal valued at $151 million. Ultragenyx (NASDAQ: [[ticker:RARE]]) announced Tuesday that it has reached an agreement to acquire Cambridge, MA-based Dimension (NASDAQ: [[ticker:DMTX]]) for $6 per share. The Novato, CA-based rare disease … Continue reading “Ultragenyx Sweetens Offer, Dimension Tx Agrees to $151M Acquisition”
Celebrating Boston Life Sciences: Xconomy Awards Gala Slideshow
We at Xconomy were thrilled to see such a great turnout at our first-ever Awards Gala—350 people from the Boston life sciences community filled a Hynes Convention Center ballroom. As Bob Buderi, our founder and editor-in-chief, said in his opening remarks on September 26 before a sold-out crowd: We clearly struck a chord. Top scientists, … Continue reading “Celebrating Boston Life Sciences: Xconomy Awards Gala Slideshow”
ServiceNow Buys San Diego Specialist in Customer Experience, Design
[Clarified 10/10/17, 11:15 am. See below.] ServiceNow (NYSE: [[ticker:NOW]]), the Santa Clara, CA-based giant that provides cloud-based IT services, is boosting its emphasis on human-centered design with its acquisition of Telepathy, a San Diego specialist in customer experience and design. Financial terms of the deal were not disclosed. “ServiceNow chose us because of the design … Continue reading “ServiceNow Buys San Diego Specialist in Customer Experience, Design”
Cullinan Oncology Emerges with $150M to Build Cancer Drug Portfolio
It’s no secret that discovering and developing cancer drugs is an expensive and risky endeavor. But Cullinan Oncology is betting that a financial approach, rather than a purely scientific one, can improve the odds, and it has raised $150 million to test its approach. The Series A investment for Cambridge, MA-based Cullinan was co-led by … Continue reading “Cullinan Oncology Emerges with $150M to Build Cancer Drug Portfolio”
CRISPR Therapeutics Switches CEOs As It Approaches First Clinical Study
With its first clinical trial possibly just months away, one of the leading biotech firms using CRISPR-Cas9 gene editing technology to make drugs is turning to a new CEO. CRISPR Therapeutics (NASDAQ: [[ticker:CRSP]]), a company split between Cambridge, MA, and Switzerland, said this morning that founding CEO Rodger Novak will hand the reins to the … Continue reading “CRISPR Therapeutics Switches CEOs As It Approaches First Clinical Study”
KSQ Bets on CRISPR-Juiced Drug Discovery With $76M & Ex-Genzyme CEO
CRISPR-Cas9 makes headlines as a gene editing tool for potential therapies, but pharma and biotech are also using it to as a tool to discover new drugs. A high-powered startup, KSQ Therapeutics, is the latest firm to join their ranks. Flagship Pioneering and Polaris Partners have been incubating the Cambridge, MA, company since 2015. KSQ … Continue reading “KSQ Bets on CRISPR-Juiced Drug Discovery With $76M & Ex-Genzyme CEO”
Twitter Joins Facebook in Political Hot Seat Over Election Hacking
Ordinarily, Twitter’s announcement that some of its users can now send tweets twice as long as its signature 140-character limit, and that this freedom could be broadened to others, would have been the company’s top news of the week. But instead, Twitter, like Facebook before it, is under the national microscope as government investigations of … Continue reading “Twitter Joins Facebook in Political Hot Seat Over Election Hacking”
Bio Roundup: Graham-Cassidy, Axovant Fail, SpringWorks Launches & More
After drug pricing, count drug shortages among the hot button issues sparking patient ire. Last year, the FDA says, 23 drug shortages were reported, down from 26 the previous year (and 251 in 2011). But Hurricane Maria’s direct strike on Puerto Rico might put the progress made on reducing shortages to the test. The Pharmaceutical … Continue reading “Bio Roundup: Graham-Cassidy, Axovant Fail, SpringWorks Launches & More”
In TaskRabbit’s Sale to Ikea, Lessons for Retail Tech’s Future
“Gig economy” startup TaskRabbit has sold to Ikea, the furniture maker whose customers often turned to TaskRabbit’s online marketplace for help. It will be important to watch how other traditional retailers like Walmart and online sellers like Wayfair respond in the broader competition for tech talent and platforms. This is now a world where retail … Continue reading “In TaskRabbit’s Sale to Ikea, Lessons for Retail Tech’s Future”
FDA Panel Pans PTC’s Audacious Plan to Force Vote on Duchenne Drug
A panel of experts has voted against a Duchenne muscular dystrophy drug from PTC Therapeutics (NASDAQ: [[ticker:PTCT]]). The vote is a critical blow to the company’s unusual attempt to force the review of a drug the FDA has rejected twice already. The 11 member committee, one of many that help the FDA evaluate drugs for … Continue reading “FDA Panel Pans PTC’s Audacious Plan to Force Vote on Duchenne Drug”
Ori’s Robotic Furniture Hints at Future of Smart Homes, Urban Design
The “smart” device movement has brought us gadgets like Internet-connected thermostats, light bulbs, and speakers. Now, a startup out of MIT called Ori wants to add furniture and walls to the so-called Internet of Things. “When we think of the home of the future or office of the future, the IoT has been limited to … Continue reading “Ori’s Robotic Furniture Hints at Future of Smart Homes, Urban Design”
Epic Seeks to Join Alexa, Siri as Software You Can Chat With
Epic Systems may soon add its name to the list of companies with virtual assistant software that people can give instructions to and get information from. But those who say, ‘Hey Epic’ to initiate a man-to-machine conversation won’t be your average consumers. Instead, they’ll be doctors, nurses, and others who use the Verona, WI-based company’s … Continue reading “Epic Seeks to Join Alexa, Siri as Software You Can Chat With”
As Self-Driving Car Partnerships Multiply, Ford and Lyft Join Forces
For most of its existence, the automotive industry has been secretive, siloed, and steeped in cut-throat competition. However, as autonomous vehicle collaborations proliferate, the old-school approach is quickly falling by the wayside. That was evident in a pair of blog posts published late Tuesday that spelled out a new partnership between Ford and San Francisco-based … Continue reading “As Self-Driving Car Partnerships Multiply, Ford and Lyft Join Forces”
Google, Apple Offer Salvation from the Horrors of Autoplay
Tech giants are under a lot of pressure these days to make the world a better place—to ferret out Russian hackers trying to fix elections; to combat gender bias in hiring; to stamp out sexual harassment; and to lend their voices to the protests over President Trump’s immigration policies. Despite efforts they’ve made on these … Continue reading “Google, Apple Offer Salvation from the Horrors of Autoplay”
The Winners of the 2017 Xconomy Awards Are…
We are excited to announce the recipients of the first-ever Xconomy Awards. Big Idea Bridge Project The Bridge Project was hatched by MIT’s Koch Institute for Integrative Cancer Research in Cambridge and the Dana-Farber/Harvard Cancer Center in Boston to fund collaborative research between cancer researchers from MIT and Harvard-affiliated hospitals and schools. Its aim is … Continue reading “The Winners of the 2017 Xconomy Awards Are…”
Chatbot Builder Drift Gets $32M from GC, Sequoia, HubSpot, CRV
Investors continue to feed the chatbots. Drift, a Boston-based startup that helps businesses boost sales and marketing efforts with virtual assistants and other software tools, said today it has raised $32 million in fresh venture capital. The Series B round of funding was led by General Catalyst, with contributions from CRV, HubSpot, and Sequoia Capital. … Continue reading “Chatbot Builder Drift Gets $32M from GC, Sequoia, HubSpot, CRV”
Trump Orders Up $200M a Year for STEM, Coding Education
President Donald Trump, who has had a rocky relationship with tech companies during his short administration so far, announced an education initiative Monday that apparently met with their approval. In a White House ceremony, Trump directed his education secretary to allocate at least $200 million a year to fund student access to coursework in science, … Continue reading “Trump Orders Up $200M a Year for STEM, Coding Education”
Amid Cash Crunch, Genocea to Dump Herpes Vaccine, Focus on Cancer Work
Genocea Biosciences was able to go from startup to publicly traded company, in part, because of the early progress it made developing an experimental vaccine for genital herpes. Yet the Cambridge, MA, company couldn’t get the financial help to take that vaccine, GEN-003, through its final test. Instead it has shifted gears and will try … Continue reading “Amid Cash Crunch, Genocea to Dump Herpes Vaccine, Focus on Cancer Work”
Poizner Updates Plan for Alliance on Southern California Innovation
After launching a study to identify how tech hubs work, the leader of a nonprofit consortium created to boost Southern California’s startup ecosystem says he is focusing on three initiatives to supercharge the seven-county SoCal region as a hotbed for innovation. “Our focus is on priming the pump,” Steve Poizner said Friday, after providing an … Continue reading “Poizner Updates Plan for Alliance on Southern California Innovation”
Xconomy Q&A: Todd Schulte of Tech Immigration Advocacy Org FWD.us
[Updated 9/25/17, 1:55 p.m. Clarified 9/27/17, 10:01 a.m. See below.] Immigration policy has always been important to the tech industry, but this year is different. Under a steady barrage of nationalist, anti-immigrant policies promulgated by the Trump administration, the tech industry has been forced to respond like never before, in the halls of Congress, the … Continue reading “Xconomy Q&A: Todd Schulte of Tech Immigration Advocacy Org FWD.us”
Bio Roundup: RNAi’s Big Day, CAR-T For Kids, Drugs From Fungi & More
It’s been a year of biomedical milestones in the U.S., including the first approval of a CAR-T cellular immunotherapy, the first smartphone app to treat substance abuse, and the first approval of a cancer drug based on genetic signature instead of the tumor’s organ of origin. Add to the list the first successful Phase 3 … Continue reading “Bio Roundup: RNAi’s Big Day, CAR-T For Kids, Drugs From Fungi & More”
Nathan Myhrvold: The Full Xconomy Voices Interview
Episode 3 of our new podcast, Xconomy Voices, features a conversation about nuclear power with Nathan Myhrvold, the founder and CEO of Intellectual Ventures. The former Microsoft chief technology officer is now vice chairman of TerraPower, a Bellevue, WA-based spinout of Intellectual Ventures that aims to revive commercial nuclear energy. The company is researching next-generation … Continue reading “Nathan Myhrvold: The Full Xconomy Voices Interview”
Xconomy Voices, Episode 3: Nathan Myhrvold and TerraPower
We’re pleased to bring you the third episode of Xconomy Voices, our new podcast featuring conversations with entrepreneurs, innovators, and investors from Xconomy’s home cities and regions. This week our guest is Nathan Myhrvold, the former Microsoft chief technology officer who, since 2000, has headed Intellectual Ventures, a Bellevue, WA-based firm that buys, develops, and … Continue reading “Xconomy Voices, Episode 3: Nathan Myhrvold and TerraPower”
Big Fundraising Week for Slack, Patreon, TigerGraph, Others in Bay Area
[Updated 9/25/17, 1:38 pm. See below.] Silicon Valley companies, from big ones with millions of users to infant startups, rolled up some money from investors this week. —San Francisco-based Slack, which offers shared messaging channels for workplace teams, raised $250 million to pad out its cash cushion from the $591 million the company had already raised, … Continue reading “Big Fundraising Week for Slack, Patreon, TigerGraph, Others in Bay Area”
Alnylam Data Puts a Nobel Discovery One Step Closer to Approved Drug
[Updated with comments at 9:49 am ET, see below] For the first time ever, a medicine using RNA interference, a method of muting a gene before it can make a harmful protein, is headed for an FDA review. If the agency grants a commercial license, it would be a major victory not just for the … Continue reading “Alnylam Data Puts a Nobel Discovery One Step Closer to Approved Drug”
NVCA Sues Trump Administration for Delaying “Startup Visa” Program
Add another item to the list of tech industry beefs with the new crew in the White House. An organization representing venture capital firms filed a federal suit in Washington, DC, on Tuesday accusing Trump Administration officials of unlawfully delaying a program that would have allowed international entrepreneurs to work at companies they founded within … Continue reading “NVCA Sues Trump Administration for Delaying “Startup Visa” Program”
Itron-Silver Springs, Doosan’s Storage Win, and More Smart Grid News
Here’s a look at recent news from some of Washington state’s grid modernization and energy storage players, including Itron’s planned acquisition of Silver Spring Networks; a big energy storage project in the Mojave Desert for Seattle-based Doosan GridTech; and a bolus of federal funding for electricity grid researchers at Pacific Northwest National Laboratory: Itron Buying … Continue reading “Itron-Silver Springs, Doosan’s Storage Win, and More Smart Grid News”
On CAR-T’s Edge, Seattle Researchers Plot to Bypass Novartis Therapy
[Corrected, 10/10/17, 2 p.m. ET. See below.] It’s not a stretch to say that Greta Oberhofer is alive thanks to the genetically modified cell therapy called CAR-T. At three and a half months old, she was diagnosed with acute lymphoblastic leukemia, or ALL, an aggressive blood cancer. At 10 months old, she had a bone … Continue reading “On CAR-T’s Edge, Seattle Researchers Plot to Bypass Novartis Therapy”
Ultragenyx Makes Competing Bid for Gene Therapy Biotech Dimension Tx
[Updated 9/19/17, 10:39 am. See below.] A bidding war has erupted for gene therapy developer Dimension Therapeutics. Ultragenyx Pharmaceutical (NASDAQ: [[ticker:RARE]]) announced Monday that it is ready to pay $5.50 per share in cash, or approximately $136 million, to acquire Cambridge, MA-based Dimension (NASDAQ: [[ticker:DMTX]]). The non-binding proposal from Novato, CA-based Ultragenyx is a 358 … Continue reading “Ultragenyx Makes Competing Bid for Gene Therapy Biotech Dimension Tx”
How Bayer and Ginkgo Teamed Up in a $100M Synthetic Biology Bet
Nitrogen is essential for plant growth and photosynthesis, but plants can’t pull it directly from air. They rely on bacteria on their roots to convert the gas into a usable form. Many major food crops don’t have these bacteria but Bayer wants to change that. The multinational company is teaming up with Boston startup Ginkgo … Continue reading “How Bayer and Ginkgo Teamed Up in a $100M Synthetic Biology Bet”
Race to Mine Fungi for Drugs Revs up as Verdine’s LifeMine Gets $55M
Can the life sciences industry finally begin to efficiently and systematically exploit the potential treasure trove of drugs hidden in fungi? It seems promising, thanks to cheaper DNA sequencing technologies, artificial intelligence, new academic research, and now the largest funding yet for a startup trying to take on the task. This morning, LifeMine Therapeutics, a … Continue reading “Race to Mine Fungi for Drugs Revs up as Verdine’s LifeMine Gets $55M”
Ex-Cubist CEO Bonney Emerges at Kaleido, Flagship’s Latest Microbiome Startup
Flagship Pioneering has been as active as any venture firm at funneling its investment dollars into microbiome drug developers. It’s putting some more of that cash to work as of this morning, unveiling a startup, Kaleido Biosciences, that has been incubated within its walls for two years and is run by a prominent former Boston-area … Continue reading “Ex-Cubist CEO Bonney Emerges at Kaleido, Flagship’s Latest Microbiome Startup”
Akili, Emulate, Ginkgo & More: The Innovation at the Intersection Award Finalists
Research that happens at the intersection of different fields can lead to new innovations that tackle pressing problems in the life sciences. This year’s finalists in the Innovation at the Intersection category show the value of bringing different disciplines—engineering and biology, IT and medicine—together. Here are brief introductions to the finalists. The winners of this … Continue reading “Akili, Emulate, Ginkgo & More: The Innovation at the Intersection Award Finalists”
Dealmaker, Thought Leader & More: The X of the Year Xconomy Award Finalists
Given the size and diversity of the life sciences community in the Boston area, we at Xconomy knew that many candidates would be so unique that they wouldn’t fit neatly into a category. So we gave them a category of their own. These finalists represent the wide range of talent—from investors to entrepreneurs and thought-leaders—that … Continue reading “Dealmaker, Thought Leader & More: The X of the Year Xconomy Award Finalists”
Bio Roundup: Phase 3 Fails, Shkreli Jailed, Moderna Flip-Flops & More
It was a week of realignments. President Trump, who used to be known as “The Donald” but now goes by “Amnesty Don,” kept up the parlay-voo with his new friends Chuck and Nancy. Martin Shkreli, who was once known—and still is!—as the “pharma bro,” will have a new perspective for a while, through the bars … Continue reading “Bio Roundup: Phase 3 Fails, Shkreli Jailed, Moderna Flip-Flops & More”
After Equifax: Should Tech Entrepreneurs Design the Next-Gen Credit Agency?
Personal financial data for as many as 143 million Americans, inadequately guarded by credit bureau Equifax and stolen by hackers, can never be sheltered again under an umbrella of privacy. Those victims could face dire consequences, such as raids on their bank accounts and identity theft, for the rest of their lives. The losses for … Continue reading “After Equifax: Should Tech Entrepreneurs Design the Next-Gen Credit Agency?”
Check Out What’s Hot in Bay Area Biotech on December 6
Last December, Xconomy’s annual Bay Area biotech forum assessed the election aftermath for the life sciences. This year, What’s Hot in Bay Area Biotech, will dive into topics shaping the healthcare landscape, such as gene editing, the microbiome, immunotherapy, neuroscience, and more. Join us to hear how top researchers, executives, investors, and thought leaders are … Continue reading “Check Out What’s Hot in Bay Area Biotech on December 6”
Going Big or Against the Tide: Meet the Big Idea & Contrarian Award Finalists
[Corrected, 1:25pm ET, see below] All innovation and companies start off as an idea. Some will gain more traction than others over time, but we at Xconomy think that big ideas—and the people and companies in Boston’s life sciences community bold enough to try to implement them—are worth celebrating. Some of those ideas even go … Continue reading “Going Big or Against the Tide: Meet the Big Idea & Contrarian Award Finalists”
Moderna Ends “Venture” Experiment, Dissolves Four Startups
Moderna Therapeutics, the high-flying private company with a $1 billion war chest, is reversing course. Three years ago, it decided to hatch startups as wholly-owned subsidiaries, all working on different aspects of its unproven biomedical technology called messenger RNA. Moderna announced today that it is ending the experiment. It is dissolving the four startups, or … Continue reading “Moderna Ends “Venture” Experiment, Dissolves Four Startups”
GM, Ford, BAE Systems Up the Self-Driving Ante with New Advances
Things are moving quickly in the mobility sector as the race to develop autonomous vehicle technologies revs up. This week brought a spate of mobility news from GM and Cruise, Ford, BAE, and even the federal government. Read on for details. —The Detroit News published a detailed report this week regarding Ford’s Silicon Valley lab, … Continue reading “GM, Ford, BAE Systems Up the Self-Driving Ante with New Advances”
Xconomy EXOME Presents: What’s Hot in Bay Area Biotech
Last December at our annual Bay Area biotech forum, we assessed the election aftermath for the life sciences. This year, we’ll hear how top researchers, executives, investors, and thought leaders are navigating the political upheaval while staying focused on creating new medicines and treatments, and improving public health.
BridgeBio Bags $135M For “Hub and Spoke” Rare Disease Drug R&D
Thousands of diseases have been traced to genetic origins, but the vast majority have no treatment at all. BridgeBio wants to reduce that unmet need with an unusual model for developing drugs to treat rare genetic diseases, and it now has $135 million in new funding. Palo Alto, CA-based BridgeBio says new investor Viking Global … Continue reading “BridgeBio Bags $135M For “Hub and Spoke” Rare Disease Drug R&D”
Education Is Unbundling—Three Key Trends to Watch
Technology in the classroom has come a long way since its advent in the 1920s, when teachers would air radio broadcasts about topics relevant to their lesson plans. Ten years later, in the 1930s, the overhead projector debuted to display material for the whole class to see all at once, followed by the launch of … Continue reading “Education Is Unbundling—Three Key Trends to Watch”
Xconomy Award Finalists in the Eye of the National Drug Price Debate
[Corrected 12:20pm ET; see below.] The national debate over the high cost of healthcare, with prescription drugs at the center, resonates from the chambers of Congress to every American’s pocketbook. And it’s growing fiercer by the day. Last week, the first genetically modified cell therapy came to market with a price tag of $475,000. This … Continue reading “Xconomy Award Finalists in the Eye of the National Drug Price Debate”
Akadeum Scores $1.5M to Advance Microbubble Cell-Sorting Technology
Akadeum Life Sciences, a cell-sorting startup based in Ann Arbor, MI, has raised nearly $1.5 million in new capital from a mix of Midwestern and Silicon Valley investors. The round was led by Belmont, CA’s BioInfleXion Point Partners, with contributions from 5 Prime Ventures, the University of Michigan’s MINTS program, Invest Detroit, eLab Ventures, and … Continue reading “Akadeum Scores $1.5M to Advance Microbubble Cell-Sorting Technology”