Gene therapy offers the potential for a long-lasting, if not permanent, treatment for an inherited disease, but cells that divide rapidly, such as those in the liver, present a thorny problem. Because of how they insert themselves in the cells, some forms of gene therapy get “diluted” as the cells divide. It’s a particular problem … Continue reading “LogicBio Lands $45M for Gene Therapies in Rare Pediatric Diseases”
Category: San Francisco
Vivace Therapeutics Comes Out of Stealth With $25M for Cancer Drugs
Vivace Therapeutics, a San Mateo, CA-based biotech that has kept quiet about its research until now, has reached across the Pacific Ocean to close $25 million in financing to support its work developing drugs to target two different mechanisms of cancer biology. New investor Cenova Capital, based in China, led the Series B round of … Continue reading “Vivace Therapeutics Comes Out of Stealth With $25M for Cancer Drugs”
New Study: DNA Tests For Healthy People Have “Uncertain Value”
Genome sequencing is becoming more common for people diagnosed with cancer. Should it become part of a healthy person’s checkup, too? A new study published Monday in the Annals of Internal Medicine questions the practicality of making DNA tests standard for people who don’t have a cancer diagnosis or aren’t trying to identify a mysterious … Continue reading “New Study: DNA Tests For Healthy People Have “Uncertain Value””
U.S. IPOs Surge Amid Nettlesome Risks; Top 10 Deals So Far in 2017
[Updated 6/27/17 5:00 pm. See below.] Improving economic fundamentals are stoking the IPO pipeline in the United States and elsewhere, according to a report issued Tuesday by the global consultant and accounting firm EY. Eighty companies raised a total of $22 billion on U.S. exchanges during the first half of 2017, according to the report … Continue reading “U.S. IPOs Surge Amid Nettlesome Risks; Top 10 Deals So Far in 2017”
Fixing Uber: An Open Letter to the Next CEO
For starters, trust that my motives come from a good place. To date I have given such advice to only three CEOs—Ivan Seidenberg when he was CEO of Verizon, Apple CEO Tim Cook, and most recently, your predecessor. Not sure they ever read any of it but I do this when I get deeply inspired, … Continue reading “Fixing Uber: An Open Letter to the Next CEO”
Genentech’s Hemophilia Drug Slashes Bleeding Rates, Early Data Show
While a host of companies are racing to treat hemophilia with cutting-edge gene therapies, others are working on nearer-term improvements to more conventional approaches, with billion-dollar franchises at stake. Genentech hopes to enter the hemophilia fray and announced Monday that its experimental drug emicizumab reduced bleeding by 87 percent, according to preliminary Phase 3 data. … Continue reading “Genentech’s Hemophilia Drug Slashes Bleeding Rates, Early Data Show”
Boston Is Arguably the Heart of Biotech. But Who Makes It So? Have Your Say.
By the end of this year, for the first time, patients with certain deadly types of blood cancer might have a new option, CAR-T cell therapy, to prolong their life. Immunotherapy could further entrench itself as a mainstay of cancer treatment. Newer drugmaking methods—RNA interference and gene therapy—could get their first ever FDA reviews. Multiple … Continue reading “Boston Is Arguably the Heart of Biotech. But Who Makes It So? Have Your Say.”
GE, IBM Race to Deliver on A.I. Hype in Healthcare
This story is part of an ongoing series on A.I. in healthcare. A companion piece today looks at the question of when A.I. might replace doctors. Artificial intelligence has a long road ahead to reach the front lines of healthcare—but it’s coming. Big companies and startup investors are pouring billions of dollars into A.I. technologies for … Continue reading “GE, IBM Race to Deliver on A.I. Hype in Healthcare”
When Will A.I. Replace Doctors?
This story is part of an ongoing series on A.I. in healthcare. A companion piece today looks at advances from GE, IBM, and other competitors. Even as big companies race to build up their artificial intelligence capabilities, the prospect of using A.I. technologies in healthcare raises more questions than answers. Want more AI, machine learning, and drug … Continue reading “When Will A.I. Replace Doctors?”
Initiative to Boost SoCal’s Startup Scene Teams With GV Founder
A Silicon Valley entrepreneur has set out to boost the startup ecosystem in San Diego and the rest of Southern California—and he already has scored a coup by partnering with Bill Maris, the founder and former CEO of Google Ventures, now known as GV. Steve Poizner, who sold two of his startups to Qualcomm (NASDAQ: … Continue reading “Initiative to Boost SoCal’s Startup Scene Teams With GV Founder”
Portola Pharmaceuticals’ Drug to Prevent Blood Clots Wins FDA Nod
[Updated, 6/23/17, 6:23 pm, see below.] A Portola Pharmaceuticals drug developed to prevent risky and potentially fatal blood clots in patients who are hospitalized for an extended period of time received FDA approval on Friday. The FDA approved the Portola (NASDAQ: [[ticker:PTLA]]) drug betrixaban (Bevyxxa) for patients hospitalized for conditions such as heart failure, stroke, … Continue reading “Portola Pharmaceuticals’ Drug to Prevent Blood Clots Wins FDA Nod”
Five Prime’s Williams to Transition from CEO to Executive Chairman
Five Prime Therapeutics (NASDAQ: [[ticker:FPRX]]) announced that founder Lewis “Rusty” Williams plans to transition from CEO to executive chairman next year. Williams founded South San Francisco, CA-based Five Prime in 2001 and then shifted from CEO to executive chairman in 2003. He returned as CEO in 2011. Five Prime, which is developing drugs to treat … Continue reading “Five Prime’s Williams to Transition from CEO to Executive Chairman”
Startup Founder’s Quest for Cure Leads to Genomics Hackathon at Google
This story is part of a series on A.I. in healthcare. Onno Faber was a member of Silicon Valley’s happy breed of tech startup founders when he was diagnosed with a rare genetic condition that can come with dire health damage, but few treatments. Faber responded with entrepreneurial zeal, exploring whether Silicon Valley’s mastery of algorithms … Continue reading “Startup Founder’s Quest for Cure Leads to Genomics Hackathon at Google”
Bio Roundup: Senate Trumpcare, FDA On Cancer, Alzheimer Review & More
All eyes are on the nation’s capital this week, where the Senate released its version of the American Health Care Act (now called the Better Care Reconciliation Act) and the White House worked on an executive order to address drug prices. No one knows how to pay for high-priced medicines that could bring long-term relief … Continue reading “Bio Roundup: Senate Trumpcare, FDA On Cancer, Alzheimer Review & More”
Mary Lou Jepsen: The Full Xconomy Voices Interview
For the inaugural episode of our new podcast, Xconomy Voices, we chose to speak with Bay Area entrepreneur and executive Mary Lou Jepsen. She leads a startup called Openwater, which is developing a new kind of wearable imaging device that might one day enable communication by thoughts alone. Of course, there are nearer-term goals as … Continue reading “Mary Lou Jepsen: The Full Xconomy Voices Interview”
Introducing Xconomy Voices (Podcast), Episode 1: Mary Lou Jepsen
It’s always been Xconomy’s mission to reach audiences—both here on our website, and at our many live events around the country—with deep insights into the innovation process, divined from experts embedded in the world’s most important hubs of high-tech entrepreneurship. And now we’re doing that in one more medium: podcasting. I’m thrilled to be collaborating … Continue reading “Introducing Xconomy Voices (Podcast), Episode 1: Mary Lou Jepsen”
Repare Nabs $68M To Find Synthetic Lethal Cancer Targets Beyond PARP
The concept of synthetic lethality has been around for decades, but only recently has it been exploited for cancer therapy. The idea is to hit cancer cells in at least two places at once; the trick is to find the right combination of genetic mutations that make the cells vulnerable. The newest company aiming to … Continue reading “Repare Nabs $68M To Find Synthetic Lethal Cancer Targets Beyond PARP”
From Startup Week San Diego: The World According to Jason Calacanis
Silicon Valley angel investor Jason Calacanis has some advice for the millennial generation: Get your name on a cap table. In a keynote talk Tuesday night that was a headliner event for Startup Week San Diego, Calacanis observed that it doesn’t feel like the millennial generation is doing as well financially as their parents’ generation. … Continue reading “From Startup Week San Diego: The World According to Jason Calacanis”
Accel, GV-backed Sense Raises $10M To Keep “Gig Workers” On Board
The new tech economy, as well as a longstanding trend toward outsourcing, has boosted the number of “gig workers” who rely on temporary assignments to earn a living. With a lack of income security and sometimes without benefits, these workers may run low on job satisfaction and loyalty to their employers. The founders of San … Continue reading “Accel, GV-backed Sense Raises $10M To Keep “Gig Workers” On Board”
Alzheimer’s Drug Pipeline Analysis: Have We Hit Peak Amyloid?
A 2014 report provided a stark frame of reference for the challenge of fighting Alzheimer’s disease, showing that 99.6 percent of all drugs in the field had failed in one way or another. Led by Jeffrey Cummings, director of the Cleveland Clinic’s Lou Ruvo Center for Brain Health, the same authors recently published a new … Continue reading “Alzheimer’s Drug Pipeline Analysis: Have We Hit Peak Amyloid?”
Cybereason Gets $100M to Fend Off Cyber Attacks—and Competitors
Lior Div just raised a $100 million funding round for his security-tech company, Cybereason. A daunting task, to be sure. “It’s very hard to raise money,” says Div, the company’s CEO and co-founder. “I see it all the time with colleagues of mine, founders. But if you really have a good, unique solution that’s proven, … Continue reading “Cybereason Gets $100M to Fend Off Cyber Attacks—and Competitors”
Economic Study Ranks San Diego Near Top in Genomics Innovation
An economic impact study of San Diego’s emerging genomics industry counted 115 genomics-related companies operating in the region that directly employ over 10,000 people, and drive about $5.6 billion worth of annual economic benefits throughout the area. “San Diego is really end-to-end in genomics, from start to finish,” said Kirby Brady, who oversaw the study … Continue reading “Economic Study Ranks San Diego Near Top in Genomics Innovation”
Open Letter to Travis Kalanick
For starters, this is NOT a Travis-bashing letter or an Uber-bashing one either, which would be way too easy. Besides, I already did the latter in my Nothing Super About Uber piece over two-and-a-half years ago when I questioned Uber’s then over-hyped valuation. Given current events, I’m pretty sure the next funding round will be … Continue reading “Open Letter to Travis Kalanick”
Talla Gets $8.3M, Led by Glasswing, to Build Chatbots for Enterprises
In a deal that signals where some artificial intelligence companies are heading, Boston-based Talla said today it has raised an $8.3 million Series A round led by Glasswing Ventures. PJC (formerly Point Judith Capital) also participated in the round, along with Talla’s previous investors Avalon Ventures, Pillar, and Jason Calacanis’s Launch fund. The new cash … Continue reading “Talla Gets $8.3M, Led by Glasswing, to Build Chatbots for Enterprises”
Startup Pioneers EV-to-Grid Technology in Pilot at UC San Diego
Nuvve, a San Diego cleantech startup, has begun a pilot project with UC San Diego that is intended to demonstrate the feasibility of using electric vehicles as a kind of collective energy storage reservoir for the power grid. After securing a $4.2 million grant from the California Energy Commission this week, Nuvve and UC San … Continue reading “Startup Pioneers EV-to-Grid Technology in Pilot at UC San Diego”
Uber’s Week: Kalanick Takes Leave As Board Tackles Ailing Workplace Culture
The chain of events set off in February when a former Uber engineer’s blog post about sexual harassment went viral reached a dramatic juncture this week as CEO Travis Kalanick agreed to take an indefinite leave of absence, and his board accepted sweeping recommendations to change the company’s frat house-style workplace culture. The company Kalanick … Continue reading “Uber’s Week: Kalanick Takes Leave As Board Tackles Ailing Workplace Culture”
Bio Roundup: Trumpcare Is Mean, SCOTUS Says Go, Merck’s Myeloma No
What exactly does the American Health Care Act, the Republican proposal to replace Obamacare, currently look like? Few people know, because the Senate version is being negotiated behind closed doors in Washington D.C. without any public hearings. We do know President Trump now thinks the version of the AHCA that squeaked through the House is … Continue reading “Bio Roundup: Trumpcare Is Mean, SCOTUS Says Go, Merck’s Myeloma No”
Ur Hired: Canvas Helps Recruiters Interview Job Applicants Via Text
In the past decade, there has been plenty of handwringing in places like Indiana over the droves of talented young people leaving the state after graduation. Tech talent, in particular, tends to flee for the coasts as fast as possible, so it can be a challenge for homegrown companies to attract the attention of job … Continue reading “Ur Hired: Canvas Helps Recruiters Interview Job Applicants Via Text”
Patient Network Group Says Majority of Members Want To Keep Obamacare
A U.S. patient networking group called PatientsLikeMe has dipped its toe in the waters of public opinion, asking its members what they think of the healthcare policy fight. There are many caveats, but the numbers trend in the same direction that other national polls have found—a shift towards more acceptance of the Affordable Care Act, … Continue reading “Patient Network Group Says Majority of Members Want To Keep Obamacare”
Bowery Picks Up $20M to Expand Indoor Farming in the U.S. and Beyond
Indoor farming is catching on in more urban areas, giving city dwellers more choices for locally grown produce. Agtech startup Bowery aims to make its leafy greens part of that retail mix, and it has raised $20 million in new funding to support its expansion. General Catalyst and GGV Capital co-led the Series A round, … Continue reading “Bowery Picks Up $20M to Expand Indoor Farming in the U.S. and Beyond”
Data Collective, Other Top AI VCs, Pour $102M Into Element AI Series A
[Updated 6/14/17, 1:45 pm. See below.] Canada’s Element AI, publicly launched in October, announced today it has raised US$102 million in an outsized Series A financing round seen by experts as a sign that artificial intelligence is ready to solve real-world business problems. The young Montreal-based company, whose staff of AI engineers collaborates with academic … Continue reading “Data Collective, Other Top AI VCs, Pour $102M Into Element AI Series A”
Amgen’s Heart Data Don’t Impress Drug-Price Evaluation Group
The drug-price evaluator that the drug companies love to hate has weighed in again, this time casting a skeptical eye on the price of a next-generation heart medicine from Amgen (NASDAQ: [[ticker:AMGN]]). The group known as ICER, which stands for Institute for Clinical and Economic Review, released a report today that said Amgen’s evolocumab (Repatha) … Continue reading “Amgen’s Heart Data Don’t Impress Drug-Price Evaluation Group”
GE CEO Immelt to Step Down, GE Healthcare Leader Taking Over
General Electric CEO Jeff Immelt will step down Aug. 1 and be replaced by John Flannery, the head of GE’s healthcare business, the company announced today. The move comes as GE goes through some major changes, including relocating its global headquarters from Fairfield, CT, to Boston, and attempting to transform its business (and its reputation) … Continue reading “GE CEO Immelt to Step Down, GE Healthcare Leader Taking Over”
Dragonfly, Tyler Jacks’s Disney-Backed Startup, Gets $33M in Celgene Deal
Dragonfly Therapeutics, a stealthy startup formed by well-known cancer researchers on both coasts and backed by a high-powered group of family offices, has inked its first partnership. Celgene, of Summit, NJ, is paying Dragonfly $33 million up front for the chance to co-develop up to four blood cancer drugs. The deal is a modest bet … Continue reading “Dragonfly, Tyler Jacks’s Disney-Backed Startup, Gets $33M in Celgene Deal”
Getting Women On Boards: Three Ways to Increase the Numbers
The hot topic of getting more qualified women on corporate boards continues unabated. Recent statistics show how companies with women prominently serving in such capacities experience higher-than-average financial performance. A major investment group even declared earlier this year that it would push to get women on the boards of the companies in their portfolio. Yet … Continue reading “Getting Women On Boards: Three Ways to Increase the Numbers”
Robot Reshuffle: Alphabet Sells Boston Dynamics & Schaft to SoftBank
In a deal that was a long time coming, Google’s parent company Alphabet has sold robotics firms Boston Dynamics and Schaft to Japanese tech giant SoftBank. Terms of the deal were not disclosed. Boston Dynamics was rumored to be on the market for the past year, with potential suitors including Toyota and Amazon. The robotics … Continue reading “Robot Reshuffle: Alphabet Sells Boston Dynamics & Schaft to SoftBank”
Bio Roundup: ASCO Digested, Juliet Unveiled, PTC Slated & More
The New York Times Magazine wrote a few weeks ago about the extraordinary metabolic changes in a python after it gulps down a 50,000 calorie meal. The biomedical world was like a postprandial python this week; after extending its maw around the supersized meal of news and data from the American Society for Clinical Oncology … Continue reading “Bio Roundup: ASCO Digested, Juliet Unveiled, PTC Slated & More”
Athenahealth Gets Personal Assistant, A.I. With $63M Praxify Buyout
Athenahealth is further building out its suite of applications and programs that help physicians and patients interact with electronic medical records with its largest acquisition since 2013, announcing today that it has bought Palo Alto, CA-based Praxify Technologies for $63 million. With Praxify, Watertown, MA-based Athenahealth (NASDAQ: [[ticker:ATHN]]) is getting a company that has built … Continue reading “Athenahealth Gets Personal Assistant, A.I. With $63M Praxify Buyout”
Grubhub Gobbles Foodler as Online Food-Ordering Sector Consolidates
The shakeout of the crowded field of online food-ordering and delivery companies continues. Chicago-based Grubhub (NYSE: [[ticker:GRUB]]) has signed an agreement to acquire Boston-based rival Foodler. Terms of the all-cash transaction weren’t disclosed. The deal will add more than $80 million of annualized gross food sales to Grubhub’s business in 2017, according to a press … Continue reading “Grubhub Gobbles Foodler as Online Food-Ordering Sector Consolidates”
With Ties to Thiel and Musk, Fintech Startup Addepar Adds $140M
Addepar, a wealth management software company co-founded in 2009 by Palantir Technologies co-founder Joe Lonsdale, announced today it has raised $140 million to expand its services to investors and their advisors. It’s a big round for a financial tech company, even for Silicon Valley. The Mountain View, CA-based company’s Series D financing round was co-led … Continue reading “With Ties to Thiel and Musk, Fintech Startup Addepar Adds $140M”
States Seek Slice of $7 Trillion Autonomous Vehicle Industry
As U.S. states and cites vie to capture some of the trillions of dollars of economic activity expected to flow from a shift to autonomous vehicles in the coming decades, Washington on Wednesday joined about two dozen states that have paved the way for testing driverless cars. Washington Gov. Jay Inslee directed relevant state agencies … Continue reading “States Seek Slice of $7 Trillion Autonomous Vehicle Industry”
San Antonio’s Geekdom Fund Adds to Investments With $20M Second Fund
San Antonio—The Texas IT-focused venture capital firm Geekdom Fund has closed a $20 million fund, which it started raising last year. The San Antonio venture firm was founded in 2014 by Michael Girdley, Don Douglas, Mike Troy, and Cole Wollak, and closed its first fund at $3.4 million in 2015. Geekdom Fund has always invested … Continue reading “San Antonio’s Geekdom Fund Adds to Investments With $20M Second Fund”
California’s Surf Air Acquires Dallas-Based Airline Company Rise
[Updated 6/7/17 12:21 pm. See below.] Dallas—Dallas-based aviation startup Rise has been acquired by Surf Air, a California airline membership company. Terms of the deal were not disclosed. Rise founder Nick Kennedy will remain with the company as president of the Texas region. [Updated to include comments from the CEO.]“Members loved what we were doing and wanted … Continue reading “California’s Surf Air Acquires Dallas-Based Airline Company Rise”
ASCO Roundup: Checkpoint Combos, Tumor Profiling, Financial Toxicity
[Note: Ben Fidler coauthored this report.] The American Society of Clinical Oncology conference is wrapping up, and the closely watched medical meeting-slash-hype machine produced its usual array of data. There were a few big business-focused “horse race” stories—one company’s stumble was another company’s gain—but much of the news consisted of mid-trial updates that companies produce … Continue reading “ASCO Roundup: Checkpoint Combos, Tumor Profiling, Financial Toxicity”
Lyft, NuTonomy Team Up on Self-Driving Cars as Alliances Proliferate
As companies rev up their work on self-driving vehicles, they’re increasingly forming alliances with each other to help deliver on the technology’s potential—and fend off competitors. The latest example is a partnership announced Tuesday between Lyft, the San Francisco-based ride-hailing app company, and NuTonomy, a Boston-based developer of software for driverless vehicles. The research and … Continue reading “Lyft, NuTonomy Team Up on Self-Driving Cars as Alliances Proliferate”
Citing Losses, Fare Quits Austin as Uber, Lyft Resume Service
Austin—The return of Uber and Lyft to Austin has claimed its first casualty. Fare began operating last summer, shortly after the ride-hailing giants quit the Texas capital following voters’ approval of stringent rules that the companies were against. Late on Monday, Fare announced in an e-mail to customers that “we are unable to endure the … Continue reading “Citing Losses, Fare Quits Austin as Uber, Lyft Resume Service”
Cloud Security Company Netskope Raises $100M From Old and New VCs
Venture capital firms are cash-rich, but they’ve been carefully meting out their funds since last summer. Cybersecurity companies, however, have a better chance to build up their troves of capital due to the drumbeat of cyberattack news that’s boosting business demand for their services. Netskope, a security company that specializes in protecting data in Web-based … Continue reading “Cloud Security Company Netskope Raises $100M From Old and New VCs”
Of Catfish & Fickle Lovers: Aste CEO Talks Online Dating’s Downsides
There are millions of fish in the sea, and dating apps have made it easier to quickly find and connect with a lot more of those would-be catches. But the ease of creating an online dating profile—and the lack of oversight by the companies running such services—means that users can, and often do, misrepresent themselves. … Continue reading “Of Catfish & Fickle Lovers: Aste CEO Talks Online Dating’s Downsides”
Precision Steps: Can Loxo Drug Help Broaden Use of Cancer DNA Tests?
When the FDA last week approved Merck’s cancer drug pembrolizuamb (Keytruda) for tumors with a specific genetic signature, regardless of what body part they originated in, it was a watershed moment for oncology and a victory for the concept of precision medicine. But Merck isn’t alone; others are following suit with similar plans, and their … Continue reading “Precision Steps: Can Loxo Drug Help Broaden Use of Cancer DNA Tests?”
SIGINT Wins Midway: Milestones of Innovation 13
In these days of internet disruptions of complex systems like medical care and even elections, our obsession with data security is swelling. We’re all too aware of how signals from myriad sources can help us construct patterns of human behavior and make plans to take advantage of that behavior. Although it may be no comfort … Continue reading “SIGINT Wins Midway: Milestones of Innovation 13”