Once barred from giving consumers disease-related information about their DNA, 23andMe recently received approval to market such genetic tests directly to consumers—and it now has reeled in a boatload of cash to ramp up those efforts, and more. The Mountain View, CA-based genetic testing company said Tuesday it has raised a new $250 million round … Continue reading “23andMe Raises $250M For Consumer Disease-Risk Tests, Drug R&D”
Category: San Francisco
The Winners of the Xconomy Lifetime Achievement Award Are…
The editors at Xconomy have been working hard the last few weeks putting together the program for the Xconomy Awards Gala. We are really excited to announce the two winners of the Xconomy Lifetime Achievement Award. Lita Nelsen, MIT (retired) Lita Nelsen (pictured left) played a pivotal role in transforming Kendall Square and Boston into … Continue reading “The Winners of the Xconomy Lifetime Achievement Award Are…”
To Win Amazon’s HQ2, Incentives Are Nice, But Talent Is Required
Amazon lists one requirement in the stunning request for proposals it issued Thursday, which invites cities across North America to compete to host a second corporate headquarters for the tech and commerce giant. Economic development officials are justifiably salivating at the once-in-a-generation opportunity to attract what is arguably the 21st century’s most important company, and … Continue reading “To Win Amazon’s HQ2, Incentives Are Nice, But Talent Is Required”
Bio Roundup: RNAi Drama, Immunotherapy Data, Lasker Winners & More
The summer doldrums are over. Biotech news came at a breakneck pace this week both before and after Labor Day, starting with the surprise resignation of Novartis’s top executive just days after the Swiss company notched an historic FDA approval. From there, the week featured big headlines, both good and bad, from several trials in … Continue reading “Bio Roundup: RNAi Drama, Immunotherapy Data, Lasker Winners & More”
Silicon Valley’s Big Week in Politics: Facebook, Google, DACA, More
Silicon Valley’s public role in politics has intensified this year, and this week brought a particularly rapid flurry of news developments that continued the trend. The biggest headlines came from Facebook, which disclosed that entities linked to Russia bought thousands of political messaging ads on its social media network during the 2016 presidential campaign, making … Continue reading “Silicon Valley’s Big Week in Politics: Facebook, Google, DACA, More”
Five Regions That Could Draw Amazon’s Next Headquarters
[Updated 4:26 p.m. See below.] Amazon sent cities across North America into a frenzy Thursday after announcing plans to build a second headquarters outside of Seattle, bringing with it tens of thousands of jobs and billions of dollars in economic development benefits. The tech and commerce giant says it wants cities and states to apply … Continue reading “Five Regions That Could Draw Amazon’s Next Headquarters”
Levin, Holtzman, 183 Other Bio Leaders Urge White House to Preserve DACA
Biotech CEOs Jeremy Levin and Steve Holtzman are continuing their recent push to spur the life sciences industry to speak out against government policies it doesn’t agree with. Levin, CEO of Ovid Therapeutics (NASDAQ: [[ticker:OVID]]) and Holtzman, the head of Decibel Therapeutics, co-authored a letter to the Trump administration and congressional leaders asking them to … Continue reading “Levin, Holtzman, 183 Other Bio Leaders Urge White House to Preserve DACA”
NextCODE Reloads With $240M, Eyes IPO, As Genomic Data Demand Grows
Is the time finally right for companies trying to manage and store vast amounts of genomic data? The story of Wuxi NextCODE appears to make that case. The successor to an Icelandic genomics company that struggled through a bankruptcy, NextCODE was sold to China’s Wuxi Pharmatech for $65 million in 2015, and has now closed … Continue reading “NextCODE Reloads With $240M, Eyes IPO, As Genomic Data Demand Grows”
Lasker Award Goes to HPV Vaccine Developers Lowy, Schiller
A top prize in American biomedical science was awarded today to two scientists for their discoveries that led to the development of a human papillomavirus (HPV) vaccine, which prevents cervical cancer caused by the sexually transmitted virus. Douglas Lowy (pictured right), acting director of the National Cancer Institute (NCI), and John Schiller (left), also at … Continue reading “Lasker Award Goes to HPV Vaccine Developers Lowy, Schiller”
As Key Data Loom, Nobel Winner Mello Reflects on RNAi “Sci-Fi” Story
The story feels like a Hollywood flick, not reality—at least to University of Massachusetts Medical School molecular medicine professor and Nobel Prize winner Craig Mello. Nearly 20 years ago, Mello, Stanford University pathologist Andrew Fire, and their colleagues co-discovered RNA interference, a method of switching off or “silencing” genes before they can make potentially damaging … Continue reading “As Key Data Loom, Nobel Winner Mello Reflects on RNAi “Sci-Fi” Story”
Finistere Plants Investment Seed in Ireland With $24M Agtech Fund
Ireland’s top agricultural exports are beef and dairy products. Arama Kukutai believes that in coming years, Ireland will send the United States and the rest of the world something different: innovative agricultural technologies that help make farms more productive and profitable. To that end, Kukutai’s venture capital firm, Finistere Ventures, is joining with the Ireland … Continue reading “Finistere Plants Investment Seed in Ireland With $24M Agtech Fund”
Hurricane Harvey: A Test-Bed For Internet Resilience
Amid the wreckage inflicted by Hurricane Harvey, south Texas is measuring the crisis in numbers of homes flattened or flooded, hospitals closed, refineries stalled, and storm refugees saved by brave neighbors with small boats. A significant part of the damage, however, can be hidden in the soggy underground—in the conduits that house the major trunk … Continue reading “Hurricane Harvey: A Test-Bed For Internet Resilience”
Patient Death Triggers FDA Hold For Cellectis’s “Off the Shelf” CAR-T
[Corrected, 9/18/17, see below] The FDA has forced Cellectis to shut down two Phase 1 trials it has been running to test an “off the shelf” type of cell therapy—a stinging setback to the France- and New York-based company’s aspirations to leapfrog other developers of CAR-T, a type of cancer immunotherapy that the FDA just … Continue reading “Patient Death Triggers FDA Hold For Cellectis’s “Off the Shelf” CAR-T”
As Architects Adopt VR, Acentech Adds Sound Simulations to the Mix
Architects are starting to embrace virtual reality as a tool for showing clients what their future buildings could look like. Now, Acentech wants to integrate audio simulations so they can hear what the spaces would sound like, too. The Cambridge, MA-based consulting business spun out of the renowned BBN Technologies (now owned by Raytheon) more … Continue reading “As Architects Adopt VR, Acentech Adds Sound Simulations to the Mix”
Bio Roundup: CAR-T’s Huge Week, Merck’s ‘Pib Choice & More
[Corrected 9/5/17, 12:22 p.m. See below.] The far-out idea of reprogramming a patient’s immune cells to fight cancer, known as CAR-T, entered the mainstream this week, and two numbers highlight the tale. The first is $11.9 billion, the price Gilead Sciences is paying for Kite Pharma and its cancer-fighting cell therapy pipeline. It’s one of … Continue reading “Bio Roundup: CAR-T’s Huge Week, Merck’s ‘Pib Choice & More”
Bill Maris Takes Stage for 2nd Act, Says New Fund Mostly Committed
[Corrected 9/1/17, 7 am. See below.] In his first public appearance since leaving Google Ventures, Bill Maris said Wednesday his new venture fund, Section 32, is nearly fully invested—less than four months after he officially unveiled its existence in the San Diego area. In a keynote talk at a venture summit in San Diego, Maris … Continue reading “Bill Maris Takes Stage for 2nd Act, Says New Fund Mostly Committed”
Novartis: CAR-T Results In One Month, Or No Charge. Why One Month?
Novartis said Wednesday that it would not charge for its newly approved cellular immunotherapy, tisagenlecleucel (Kymriah)—the first so-called CAR-T product to ever come to market—if it fails to help patients within a month. If the cell therapy, approved for kids with leukemia who have run out of other options, starts to work within a month, … Continue reading “Novartis: CAR-T Results In One Month, Or No Charge. Why One Month?”
Embracing the Inevitable Changes of Self-Driving Vehicles
Read today’s news and you’d think fully autonomous vehicles—commercial vehicles, in particular—will be everywhere in the very near future. With headlines like these, it’s no wonder: Self-Driving Trucks Could be on Highways in 3 to 4 Years U.S. and Europe Race to be First to Self-Driving Trucks Ford Plans Self-Driving Car for Ride Share Fleets … Continue reading “Embracing the Inevitable Changes of Self-Driving Vehicles”
As Uber Confirms CEO Pick, A Real Change of Control?
The board of embattled ride-hailing giant Uber late Tuesday confirmed its decision to hire Expedia chief executive Dara Khosrowshahi as its new CEO. The vote was unanimous, the board wrote in an upbeat letter to Uber employees. “We’re really fortunate to gain a leader with Dara’s experience, talent and vision,” the note said. “The Board … Continue reading “As Uber Confirms CEO Pick, A Real Change of Control?”
Novartis Wins Historic FDA Nod, Prices CAR-T For Leukemia at $475,000
Ahead of schedule, Novartis has received the first-ever approval of a genetically modified living cell therapy called CAR-T, which uses a cancer patient’s own immune cells as the medicine. Within days, children and young adults with a severe form of acute lymphoblastic leukemia could receive the treatment at a handful of centers across the U.S. … Continue reading “Novartis Wins Historic FDA Nod, Prices CAR-T For Leukemia at $475,000”
Blackhawk Pays $175M for Maine-based E-Commerce Business CashStar
CashStar, a company that makes digital gift cards and commerce software, has sold to financial tech business Blackhawk Network for $175 million in cash. Venture capital-backed CashStar will stay in New England, keeping offices in Waltham, MA and Portland, ME, where its headquarters are located. The company is becoming part of Blackhawk’s digital and incentives … Continue reading “Blackhawk Pays $175M for Maine-based E-Commerce Business CashStar”
Facebook Boston to Open New Office, Hire 500 People: Report
[Updated 8/30/17, 12:30 pm, with comment from Facebook.] Facebook is reportedly planning to go on a hiring spree in the Boston area. The giant social networking company, based in the San Francisco Bay Area, intends to move into a new office in Cambridge, MA, next year and add more than 500 local employees, the Boston … Continue reading “Facebook Boston to Open New Office, Hire 500 People: Report”
GoKid App Helps Busy Parents Connect and Share Carpooling Duties
GoKid, the carpooling app startup that went through the Techstars Mobility accelerator program in Detroit last summer, today unveiled a new enterprise version of its product for schools called GoKid Connect. Based in the Motor City and New York City, GoKid is a mobile tool that allows parents to create and manage carpooling schedules. Parents … Continue reading “GoKid App Helps Busy Parents Connect and Share Carpooling Duties”
Taking Tech Ideas Global: Connecting an Innovation Ecosystem
The word ecosystem conjures up a rain forest in Ecuador, where sunlight, soil, water, and a multitude of species exist together in a self-sustaining environment that is constantly evolving. This image from biology translates perfectly into what many people like to call an innovation ecosystem. Think of a group of people developing a new idea, … Continue reading “Taking Tech Ideas Global: Connecting an Innovation Ecosystem”
Jazz Pharma, ImmunoGen Strike Up Drug Pact in Leukemia and More
ImmunoGen has yet to bring one of its own antibody cancer drugs to market, but the Waltham, MA, company has had some success with its pharma partners. On Tuesday it added Jazz Pharmaceuticals to the mix. Jazz (NASDAQ: [[ticker:JAZZ]]) is paying ImmunoGen $75 million in cash for rights to two early-stage ImmunoGen (NASDAQ: [[ticker:IMGN]]) drugs … Continue reading “Jazz Pharma, ImmunoGen Strike Up Drug Pact in Leukemia and More”
Will Merck Seek FDA Filing For Heart Drug After Lackluster Results?
News from Merck this morning on a large trial known as Reveal might signal the end of the road for a once-promising group of cholesterol-lowering medicines. It all depends on what New York drug giant Merck (NYSE: [[ticker:MRK]]) intends to do now that it has the results of the four-year, 30,449-patient trial, which tested a … Continue reading “Will Merck Seek FDA Filing For Heart Drug After Lackluster Results?”
Who is Dara Khosrowshahi, Uber’s Pick to be CEO?
The news broke Sunday night that Uber has offered the job of CEO to Dara Khosrowshahi, the outspoken steady hand guiding Bellevue, WA-based online travel giant Expedia (NASDAQ: [[ticker:EXPE]]) for the last dozen years. Khosrowshahi and Uber have not officially confirmed the news as of Monday evening. An internal e-mail from Barry Diller, Expedia chairman, … Continue reading “Who is Dara Khosrowshahi, Uber’s Pick to be CEO?”
To Be More Than Quick Splash, Gilead’s CAR-T Purchase Faces Hurdles
[Updated 8/28/17, 6:45p.m. ET. See below.] Gilead Sciences CEO John Milligan promised today that the company’s $11.9 billion acquisition of Kite Pharma and its cutting-edge CAR-T cell therapy would not be a “one and done” proposition. “This is a long-term play with multiple product opportunities,” Milligan said, calling it the foundation of Gilead’s “fairly nascent” … Continue reading “To Be More Than Quick Splash, Gilead’s CAR-T Purchase Faces Hurdles”
Iconic Therapeutics Brings Brandon Smith On Board as COO
Iconic Therapeutics has appointed Brandon Smith chief operating officer. South San Francisco, CA-based Iconic is developing therapies for retinal disease and cancer. Smith comes to Iconic from Hayward, CA-based Impax Laboratories (NASDAQ: [[ticker:IPXL]]), where he was senior vice president of corporate development and strategy. Before Impax, Smith was an executive director at Amgen (NASDAQ: [[ticker:AMGN]]), … Continue reading “Iconic Therapeutics Brings Brandon Smith On Board as COO”
LinkedIn Opens Downtown Detroit Office, Starts Search for Employees
It never fails: Every time we briefly close the Xconomy Detroit/Ann Arbor office to take a vacation, an important piece of local tech news hits. This time around, LinkedIn, the social media site primarily used for professional networking and resume-sharing, announced it is opening a Detroit office—the company’s first new office in 10 years. Last … Continue reading “LinkedIn Opens Downtown Detroit Office, Starts Search for Employees”
SetPoint Nabs $30M For More Tests of Bioelectric Device as RA Therapy
SetPoint Medical is trying to use tiny pulses of electricity to treat inflammation in the body, and it now has an additional $30 million in funding to continue testing its approach in humans. The capital infusion announced Monday for SetPoint is a Series D round of investment. The company says it plans to use the … Continue reading “SetPoint Nabs $30M For More Tests of Bioelectric Device as RA Therapy”
Uber Picks Expedia Leader As CEO Over Immelt, Whitman: Reports
In a last-minute shuffle Sunday night, Uber’s strife-ridden board chose Expedia CEO Dara Khosrowshahi as the new chief executive for the troubled ride-hailing giant, Recode reported. Khosrowshahi, whose name hadn’t been rumored as a CEO prospect for Uber, was waiting in the wings after the exits over the weekend of two other finalists for the … Continue reading “Uber Picks Expedia Leader As CEO Over Immelt, Whitman: Reports”
Power to the Patient: Meet Xconomy’s Patient Partnership Award Finalists
It’s clear at this point that patients are no longer just subjects in clinical trials. Thanks to the growing power of patient advocacy groups—and an FDA eager to hear their perspective—patients and drug developers are increasingly finding creating ways to work together, as we’ve seen with the four finalists in the Patient Partnership category of … Continue reading “Power to the Patient: Meet Xconomy’s Patient Partnership Award Finalists”
Gilead Makes Long-Awaited Splash With $12B Bet on Kite, Cell Therapy
Investors have been waiting for years for Gilead Sciences to make another big splash. This morning, it finally did, agreeing to buy Kite Pharma for close to $12 billion in a significant bet on the success of an emerging, cutting edge type of cancer immunotherapy known as CAR-T. Gilead (NASDAQ: [[ticker:GILD]]), of Foster City, CA, … Continue reading “Gilead Makes Long-Awaited Splash With $12B Bet on Kite, Cell Therapy”
Bio Roundup: Drug Price Debates, NY Bio Blooms & CEOs Take Social Stand
In these politically divided times, Americans this week found near universal agreement on one thing: A celestial event that plunges a summer day into temporary darkness is a captivating experience. The totality of the solar eclipse lasted less than 3 minutes. If you missed it, you’ll have to wait until 2024 for the next one. … Continue reading “Bio Roundup: Drug Price Debates, NY Bio Blooms & CEOs Take Social Stand”
In a CEO Search Like Uber’s, Is There Haggling Room for Contenders?
Landing the top executive’s job at a prominent company is usually considered a career coup. But a CEO search can also be a troubled company’s hunt for a savior. A leader facing a turnaround challenge may well ask, “What am I getting myself into?” Current case in point: Uber, which ticks many boxes on the … Continue reading “In a CEO Search Like Uber’s, Is There Haggling Room for Contenders?”
Atara Biosciences Appoints Kanya Rajangam Chief Medical Officer
Atara Biotherapeutics has appointed Kanya Rajangam chief medical officer. Before joining Atara (NASDAQ: [[ticker:ATRA]]), Rajangam was chief medical officer of Burlingame, CA-based Cleave Biosciences. Atara, based in South San Francisco, CA, expects to start two Phase 3 clinical trials later this year for its lead drug, ATA129, a potential treatment for certain lymphomas.
Stand Up to “Bully” Trump: Bio CEOs Levin, Holtzman Call to Their Peers
Biotech CEOs Jeremy Levin and Steve Holtzman have watched the violence in Charlottesville, VA, and its continuing aftermath with disgust. But they aren’t just upset about the rally, the violence and death, and President Trump’s equivocating blame of “many sides.” Levin, of Ovid Therapeutics (NASDAQ: [[ticker:OVID]]), and Holtzman, of Decibel Therapeutics, have been disappointed with … Continue reading “Stand Up to “Bully” Trump: Bio CEOs Levin, Holtzman Call to Their Peers”
70% Repatha Cut? Amgen Counters With Own Study To Justify Price
Writing in the Journal of the American Medical Association, researchers at the University of California, San Francisco argued this week that the price of the cholesterol-fighting drug evolocumab (Repatha) should come down 70 percent, to $4,215 a year, to be cost-effective. But a separate study, published today in JAMA Cardiology and funded by the drug’s … Continue reading “70% Repatha Cut? Amgen Counters With Own Study To Justify Price”
Memphis Meats Cooks Up $17M Funding Round for Lab-Grown “Meat”
Memphis Meats says it has developed a way to grow animal cells into products that have the look, texture, and taste of meat from farm-grown chickens. The San Francisco Bay area startup is now working to scale up its production process, and it has raised $17 million in funding toward that goal. The Series A … Continue reading “Memphis Meats Cooks Up $17M Funding Round for Lab-Grown “Meat””
Vista Equity to Acquire Applause, as App Testing Firm Eyes Profits
The rise of smartphones, wearables, and other Internet-connected devices has enabled Applause to build what it says is a thriving business helping companies like Facebook and Starbucks test their apps and other digital products. Now, the decade-old firm, a stalwart of the Boston tech scene, intends to boost its growth with the help of a … Continue reading “Vista Equity to Acquire Applause, as App Testing Firm Eyes Profits”
The Downside of Immersive Tech: An Increasingly Isolated World
As an entrepreneur who has been involved in tech and media for over two decades, I have seen my share of disruptions (I so hate that word!) and even participated in a few. Back in the 1990s, while we were developing some broadband technologies at Sourcecom, my first startup, we also had to develop the … Continue reading “The Downside of Immersive Tech: An Increasingly Isolated World”
Scott Miller Talks Dragon Innovation’s Winding Journey to Avnet Deal
It’s funny how relationships can come full circle in the business world. The seeds of Dragon Innovation’s sale to Avnet, announced Tuesday, were planted over a decade ago in China, says Dragon co-founder and CEO Scott Miller. At the time, he was running iRobot’s operations there alongside his future Dragon co-founder Herman Pang, he says. … Continue reading “Scott Miller Talks Dragon Innovation’s Winding Journey to Avnet Deal”
After Y Combinator, May Mobility Ready to Test Self-Driving Fleets
[Corrected, 10:16 am. See below] There has been a lot of speculation about what Ann Arbor, MI-based May Mobility has been up to since the company began working in stealth mode early this year. The new company has to do with autonomous vehicles—one of the hottest fields in tech—but until this week its website revealed … Continue reading “After Y Combinator, May Mobility Ready to Test Self-Driving Fleets”
Avnet Acquires Boston Hardware Consultant Dragon Innovation
Dragon Innovation, the Boston-area hardware consulting firm, has been acquired by one of its partners, Avnet, for an undisclosed price. Phoenix-based global distributor Avnet (NYSE: [[ticker:AVT]]) says it offers a mix of product design and supply chain services. Prior to the deal, Avnet owned a portfolio of seven subsidiaries, and it has been on an … Continue reading “Avnet Acquires Boston Hardware Consultant Dragon Innovation”
HubSpot Dips Toe Further Into Startup Investing With Sigstr Deal
HubSpot is ramping up its startup investments as part of a larger strategic effort to augment the capabilities of its sales and marketing software tools. Some of the young companies HubSpot backs may become its partners—if they’re not already—by integrating their services with the larger company’s. The 12-year-old Cambridge, MA-based company made its first investment … Continue reading “HubSpot Dips Toe Further Into Startup Investing With Sigstr Deal”
DotCom Therapy Gets Shot at Silicon Valley VCs After Pitch Contest
DotCom Therapy, a Madison, WI-based startup that has developed software allowing the dozens of therapists it employs to provide remote speech therapy services to schoolchildren, captured first place in one of Wisconsin’s more closely watched pitch competitions on Monday. The contest DotCom Therapy won was the fourth annual “Pressure Chamber,” which is put on by … Continue reading “DotCom Therapy Gets Shot at Silicon Valley VCs After Pitch Contest”
Near The East River, Plans Emerge For NY’s Next Life Science Center
At a time when biotech incubators and shared spaces are beginning to multiply in Manhattan, work on what could rank among the city’s largest biotech centers—if it can all come together—is just getting underway. According to Paul Wexler, a longtime healthcare-focused real estate broker, construction should begin next year on what is being called the … Continue reading “Near The East River, Plans Emerge For NY’s Next Life Science Center”
On Drug Pricing: FDA Backs Up Its Calls for Increased Competition
FDA Commissioner Scott Gottlieb has been very public in expressing his desire to provide increased competition and greater choice to American consumers in a bid to drive down prices of prescription medicines. Recently, the agency he oversees took some unusual steps to back up those statements with action. Last week, the FDA approved the use … Continue reading “On Drug Pricing: FDA Backs Up Its Calls for Increased Competition”
Nvidia Joins $20M Deal in Chinese Self-Driving Startup TuSimple
Nvidia (NASDAQ: [[ticker:NVDA]]), the Santa Clara, CA-based maker of specialized graphics processing chips that have become workhorses in artificial intelligence, has joined a group of investors that put $20 million into TuSimple, a Chinese startup developing self-driving technology for long-haul trucks. In a blog posted Wednesday, Nvidia says TuSimple has used Nvidia GPUs, the Nvidia … Continue reading “Nvidia Joins $20M Deal in Chinese Self-Driving Startup TuSimple”