Over the next four days, the Second City will be the center of the biomedical world. The American Society of Clinical Oncology’s annual meeting in Chicago brings together thousands of researchers from across the globe to discuss the latest progress in the war against cancer. On tap this year: the crush of immunotherapy drug combinations, … Continue reading “Bio Roundup: ASCO Combo Frenzy, Maine’s Free DNA Tests, Sema4 & More”
Category: San Francisco
Uber’s Week: Another Two Top Departures, But 1Q Loss Trimmed
It was a short work week due to the Monday holiday, but news about the ride-hailing behemoth Uber kept up its heavy pace as the company announced another two high-profile departures and revealed some financial results for the first quarter. The San Francisco-based unicorn, whose value is pegged at about $70 billion, said it had … Continue reading “Uber’s Week: Another Two Top Departures, But 1Q Loss Trimmed”
Energy Leaders React to Trump’s Withdrawal From Paris Climate Accord
[Updated 6/2/17, 10:10 pm ET. See below.] President Donald Trump today announced the United States would withdraw from complying with what’s known as the Paris climate accord, a landmark international agreement to combat climate change. In December 2015, nearly all the countries in the world—195 of them—agreed to the pact, which aims to reduce emissions of … Continue reading “Energy Leaders React to Trump’s Withdrawal From Paris Climate Accord”
Sema4, Eric Schadt’s Genomics Startup, Spins Out of Sinai to Raise Cash
[Updated, 9:30 p.m. ET, see below] Eric Schadt has been incubating a genomic data project within the Icahn School of Medicine at Mount Sinai for more than five years. Today, the product of that work, a 300-plus employee startup called Sema4, has formally left the nest. Sema4 today spun out of Mount Sinai as a … Continue reading “Sema4, Eric Schadt’s Genomics Startup, Spins Out of Sinai to Raise Cash”
Countering Cybersecurity Turnover: 57 Companies That Do It Best
What does it take to keep highly skilled cybersecurity employees? Salary and benefits are table-stakes. Challenging work, ongoing training, an opportunity to advance without having to become a manager, and a talented peer group all help companies recruit and retain these sought-after “ninjas”—the individuals who can do what artificial intelligence security tools can’t. Research from … Continue reading “Countering Cybersecurity Turnover: 57 Companies That Do It Best”
Gig Economy Growing in Wisconsin, Despite Early Pushback
Independent contractors, temporary employees, and other so-called “contingent” workers make up a growing share of the American workforce. According to a 2015 report from the Government Accountability Office, contingent workers accounted for 40.4 percent of employed workers in 2010, up from 35.3 percent in 2006. In Wisconsin—and elsewhere—companies that make up the “sharing” or “gig” economy … Continue reading “Gig Economy Growing in Wisconsin, Despite Early Pushback”
Bolt Goes Bigger, Raises $80M for Third Early-Stage Hardware Fund
Bolt just raised over $80 million for its third venture fund, its largest to date. But the hardware investor and manufacturing consultant says it remains committed to backing early-stage startups that sometimes struggle to secure capital and other support. Bolt announced the new fund Wednesday in a blog post. An SEC filing indicates the firm … Continue reading “Bolt Goes Bigger, Raises $80M for Third Early-Stage Hardware Fund”
Teva Seeks to Keep Pace in Migraine Drug Race With Trial Results
An experimental Teva Pharmaceutical migraine drug has met the main goals of a late-stage clinical trial, keeping the drugmaker in the race to bring to the market a product that prevents migraine headaches instead of treating them after they start. Teva (NYSE: [[ticker:TEVA]]) reported Wednesday that its drug fremanezumab reduced the number of days during … Continue reading “Teva Seeks to Keep Pace in Migraine Drug Race With Trial Results”
Appthority Finds Mobile Apps’ Data Caches Exposed on Servers
[Corrected 6/7/17, 5:30 pm ET. See below.] While other cybersecurity companies were tracking the WannaCry ransomware that invaded victims’ computers in recent months, researchers at San Francisco-based Appthority were finding holes in major data storage sites where mobile apps and their business clients send their information for safekeeping. Appthority found that many mobile app developers—though … Continue reading “Appthority Finds Mobile Apps’ Data Caches Exposed on Servers”
As Big Cancer Trials Ramp Up, Grail Goes Global, Merges With Cirina
Grail, the Illumina (NASDAQ: [[ticker:ILMN]]) spinout aiming to develop a blood test that can detect cancer at its earliest stages, has gone global. The Menlo Park, CA, startup, is merging with China’s Cirina, a privately held company co-founded by a pioneer in the field of blood-based diagnostics, Dennis Lo. Grail, which recently raised a record … Continue reading “As Big Cancer Trials Ramp Up, Grail Goes Global, Merges With Cirina”
128 Technology Takes In $21.5M to “Transform People’s Networks”
Don’t look now, but 128 Technology is looking to go big. The Burlington, MA-based startup says today it has raised $21.5 million in Series C funding. The company, led by veterans of Acme Packet (now part of Oracle), is on a quest to reinvent routing technologies for the Internet and other networks. The new money … Continue reading “128 Technology Takes In $21.5M to “Transform People’s Networks””
In Maine, Making Cancer DNA Tests Free—And Asking Tough Questions
Has the era of genetic oncology arrived? Last week, the biomedical world took a notable step in that direction when the FDA said Merck’s drug pembrolizumab (Keytruda), already one of the world’s most successful cancer immunotherapies, could now treat any tumor with a particular genetic fingerprint. It was the first time a drug has been … Continue reading “In Maine, Making Cancer DNA Tests Free—And Asking Tough Questions”
Woodcock: New Approvals Show FDA Is Adapting to Precision Medicine
The randomized controlled trial has long been held up as the gold standard for testing new drugs. But the nation’s top drug evaluator, Janet Woodcock, believes they aren’t necessary for all new experimental treatments. Randomized trials are long, expensive to run, and ultimately produce limited answers, she said at a medical conference last week. The … Continue reading “Woodcock: New Approvals Show FDA Is Adapting to Precision Medicine”
Protagonist, Janssen Ink Development Deal for Crohn’s Disease Drug
Protagonist Therapeutics’ work developing an inflammatory bowel disease drug that can be taken as a pill, rather than injected, now has fresh cash and the backing of a large pharmaceutical partner. Newark, CA-based Protagonist (NASDAQ: [[ticker:PTGX]]) has entered a partnership with Janssen Biotech to develop and commercialize its drug, PTG-200. Janssen is paying Protagonist $50 … Continue reading “Protagonist, Janssen Ink Development Deal for Crohn’s Disease Drug”
On ASCO’s Eve, Experts Fret Over Backlash to Cancer Combo Frenzy
When thousands of cancer researchers from around the world gather in Chicago this weekend for the American Society of Clinical Oncology’s annual meeting, drugs that fight tumors by boosting a patient’s immune system will take center stage, as they have in previous years. But the stage is more crowded, as researchers have begun in earnest … Continue reading “On ASCO’s Eve, Experts Fret Over Backlash to Cancer Combo Frenzy”
Bio Roundup: Skinny Cuts, Genomic Approvals, Unfrozen FDA & More
Team Trump unveiled its 2018 federal spending proposal—the so-called “skinny budget”—with health and science in the crosshairs. The NIH is looking at a 22 percent cut and the FDA 31 percent, although the administration wants to backfill the FDA loss with a huge boost in user fees, which drug and device companies pay to have … Continue reading “Bio Roundup: Skinny Cuts, Genomic Approvals, Unfrozen FDA & More”
Uber, Lyft Return to Austin With Tech Edge, But Upstarts Grew Roots
Austin—[Updated 5/25/17, 4:42 p.m. See below.] A year after Uber and Lyft had a bad breakup with Austin, the software companies are returning to town Monday. That’s thanks to Texas state law makers who last week approved legislation that wiped out the city-imposed restrictions that caused Uber and Lyft to leave in the first place. … Continue reading “Uber, Lyft Return to Austin With Tech Edge, But Upstarts Grew Roots”
Constellation Reboots With Eye On Immuno-Oncology, Hires New CEO
[Updated 5/25/17, 12:44 p.m. See below.] Constellation Pharmaceuticals, a Cambridge, MA-based biotech that up until 2015 had a sprawling alliance with Genentech, has made sweeping changes this morning. The firm has replaced its president and CEO, will transition its chief scientific officer out of his position in July, and is now embarking on a new … Continue reading “Constellation Reboots With Eye On Immuno-Oncology, Hires New CEO”
Amid Budget Concerns, NIH Preps Beta Test for Precision Medicine Plan
An ambitious plan to recruit 1 million U.S. volunteers and amass a treasure trove of their health information will start next week with a “beta test” that health officials hope to eventually expand nationwide. National Institutes of Health director Francis Collins said Wednesday that the Precision Medicine Initiative will begin in Pittsburgh, where the agency … Continue reading “Amid Budget Concerns, NIH Preps Beta Test for Precision Medicine Plan”
Analysis: Are Today’s Automobile Companies More Like Nokia or Apple?
As the CEO shake-up at Ford was unfolding this week—Mark Fields was ousted from the top spot in favor of Jim Hackett, who had been leading the automaker’s self-driving car and mobility efforts—Silicon Valley investor Marc Andreessen issued a sick burn: “Today’s car makers are like Nokia—right before it was crushed by Apple.” Ouch. Andreessen … Continue reading “Analysis: Are Today’s Automobile Companies More Like Nokia or Apple?”
Silicon Valley’s LifeSite Snaps Up Personal-Data App Mustbin
A new acquisition in the Boston tech scene today: Mustbin, a mobile app for organizing and securing personal data such as photos and documents, is getting bought by LifeSite, a “digital vault” startup based in Mountain View, CA. Terms of the deal aren’t being disclosed. The deal is an “asset-only” acquisition, according to a spokeswoman, … Continue reading “Silicon Valley’s LifeSite Snaps Up Personal-Data App Mustbin”
Unconventional Partners, Like FDA, Can Drive Adoption of New Tech
We’ve heard it time and again. Drug development is too expensive, takes too long, and many drug candidates that show promise in preclinical trials end up failing because testing methods don’t predict how they will work in humans. Recently, new technologies have emerged that offer disruptive potential for steering the development of drugs in more … Continue reading “Unconventional Partners, Like FDA, Can Drive Adoption of New Tech”
Gottlieb Says FDA’s “Regulatory Tools” Can Help Fight Opioid Abuse
The FDA considers how safe and effective a new drug is before approving it. But for addictive opioid painkillers, which have triggered a massive public health crisis, should the agency also weigh the potential for the medication to be abused? That’s one of the questions that new FDA Commissioner Scott Gottlieb is posing as he … Continue reading “Gottlieb Says FDA’s “Regulatory Tools” Can Help Fight Opioid Abuse”
FDA Landmark Nod: Cancer Drug To Match Tumor Genes, Not Tissue Type
For many years, doctors and researchers have known that cancers in different parts of the body can share genetic abnormalities. For the first time, the FDA has approved a drug based on those abnormalities and not on the organ in which the cancer originated. It’s a moment that a lot of people in the cancer … Continue reading “FDA Landmark Nod: Cancer Drug To Match Tumor Genes, Not Tissue Type”
Not Resting on Hemophilia Biz, Bioverativ Pays $400M For True North
Less than four months into its existence, Biogen spinoff Bioverativ has made its first big splash. The company has acquired True North Therapeutics, a privately held South San Francisco, CA, biotech, as part of a plan to forge an identity around rare blood diseases, not the core hemophilia business it was built on. Waltham, MA-based … Continue reading “Not Resting on Hemophilia Biz, Bioverativ Pays $400M For True North”
Trump’s Cybersecurity Czar Talks WannaCry, Industry Partnerships
The Trump administration’s plan for strengthening the nation’s cyber defenses is starting to come into focus. Rob Joyce, a special assistant to the president and the White House’s cybersecurity coordinator, spoke in Boston Monday at an event promoting the launch of CyberMA, a Massachusetts affiliate of the national CyberUSA initiative. CyberMA is a MassTLC-led group … Continue reading “Trump’s Cybersecurity Czar Talks WannaCry, Industry Partnerships”
With $29M in New Cash, Echodyne Advances “Radar Vision” for Machines
[Updated, 5/23/17, 5:50am. See below] One of the Northwest’s most intriguing startups has a new wad of cash. Bellevue, WA-based Echodyne said it has raised $29 million in Series B funding led by New Enterprise Associates. The company’s previous investors also participated in the round; they include Bill Gates, Paul Allen’s Vulcan Capital, Madrona Venture … Continue reading “With $29M in New Cash, Echodyne Advances “Radar Vision” for Machines”
Envision the Future: Request Your Invite to Our Napa Summit June 8-9
We are getting down to the wire—just two and a half weeks until Xconomy’s most unique, up close and personal event of the year: our sixth annual Napa Summit: The Xconomy Retreat on Technology, Jobs, and Growth. We have only about 20 spots left open, and a number of those will likely go fast. So … Continue reading “Envision the Future: Request Your Invite to Our Napa Summit June 8-9”
What’s Next for American Workers as Trade, Automation Roil Manufacturing?
When Donald Trump heralded Ford’s announcement earlier this year that it would invest $1.2 billion in its Michigan plants, it was seen by some as the fulfillment of campaign promises to “bring jobs back” and put America first. Last week, the other shoe dropped with reports that Ford will cut 10 percent of its global … Continue reading “What’s Next for American Workers as Trade, Automation Roil Manufacturing?”
Radius Shares Jump as Amgen’s Bone Drug Suffers a Setback in Phase 3
Amgen revealed late Sunday that safety problems have emerged in clinical testing of its closely watched osteoporosis drug, romosozumab (Evenity)—a development that will at minimum delay the drug’s path to approval, if not keep it off the market altogether. The Thousand Oaks, CA, company said while romosozumab met its main goal and some key secondary … Continue reading “Radius Shares Jump as Amgen’s Bone Drug Suffers a Setback in Phase 3”
Bio Roundup: Termeer Tribute, ASCO Peeks, Califf’s New Gigs & More
Exhausted by the nonstop drama in Washington, DC? Immerse yourself instead in this week’s biotech headlines. Let’s start with a tribute to a life sciences icon, then we’ll head around the Xconomy network with early news from the nation’s big yearly cancer meeting. There was also momentum onthe IPO front and new gigs for high-profile … Continue reading “Bio Roundup: Termeer Tribute, ASCO Peeks, Califf’s New Gigs & More”
The Reconfigurable Future of Healthcare
Data plays a more central role in healthcare than ever before. It won’t be long before every person’s genome is sequenced at birth, with follow-up sequencing done at regular intervals throughout life. Each genomic check-up would produce roughly 180 gigabytes of data that will need to be processed, analyzed, and stored. The promise of using … Continue reading “The Reconfigurable Future of Healthcare”
Aira Raises $12M to Expand Services for Blind and Visually Impaired
After beta testing technology that provides remote assistant services for the blind, San Diego-based Aira has raised $12 million in a Series B round that it says will enable the company to expand its service to thousands of visually impaired users this year. Aira takes advantage of the gig economy by connecting online independent contractors … Continue reading “Aira Raises $12M to Expand Services for Blind and Visually Impaired”
Menlo Ventures Says Small Is Beautiful For New $450M Fund
Menlo Ventures, a Silicon Valley venture capital firm investing in tech startups since 1976, announced today that it closed a $450 million fund that brings its capital under management to more than $5 billion. The new fund, Menlo Ventures XIV, will be devoted primarily to early-stage investments in both enterprise and consumer technologies. The firm’s … Continue reading “Menlo Ventures Says Small Is Beautiful For New $450M Fund”
Study Stakes San Diego’s Claim in Genomics: $292M in 2016 VC Deals
Preliminary findings from an economic impact study show that genomics is emerging as a distinct innovation cluster in San Diego. The San Diego Regional Economic Development Corp. began collecting data for the report earlier this year in a bid to assess how genomics fits into San Diego’s innovation economy. Final results of the EDC study … Continue reading “Study Stakes San Diego’s Claim in Genomics: $292M in 2016 VC Deals”
Distil’s Are You a Human Acquisition Is Big Win for Tech Community
Detroit’s nascent tech community got a significant validation today as Silicon Valley cybersecurity company Distil Networks announced it has acquired homegrown, Dan Gilbert-backed startup Are You a Human. The specific terms and the monetary value of the deal were not disclosed, but Distil says it plans to open a new office in Detroit as a … Continue reading “Distil’s Are You a Human Acquisition Is Big Win for Tech Community”
Boundless Co-Founders Unveil New Startup, Blissfully, in New York
The Boundless boys are at it again. Ariel Diaz and Aaron White, who previously co-founded Boston education startup Boundless, have moved to New York City to pursue a new tech venture. The new company is called Blissfully, and it recently raised a $1.5 million seed funding round led by Eric Paley at Founder Collective. Blissfully … Continue reading “Boundless Co-Founders Unveil New Startup, Blissfully, in New York”
With Ransomware Concerns Fresh, Cybersecurity Firms Tap VC Funding
While a wave of cyber attacks like the coordinated “WannaCry” virus may be bad for business, it’s no secret that it means good business promotion for the cybersecurity industry. As cybersecurity stocks rose across the board Monday after a weekend full of hacks, a variety of startups rode the wave of interest in Web security … Continue reading “With Ransomware Concerns Fresh, Cybersecurity Firms Tap VC Funding”
Figuring It Out: Addressing Practices That Impact Women in Technology
The Women’s March, New Tech Northwest’s annual “Women in Tech” event, and International Women’s Day are just a few of the recent events prompting important conversations around inequality in the tech industry. These discussions, while breakthroughs in many regards, are still just the beginning of real change. I’ve gathered a number of ideas for what … Continue reading “Figuring It Out: Addressing Practices That Impact Women in Technology”
B of A Tracks Customs of P2P Users As Banks Ready To Take On Venmo
More than 70 percent of people surveyed recently think that children now under age 10 won’t be writing any checks to pay their debts when they grow up—even when the folks they owe are close friends or family members. It’s not that the majority in that poll believe we’re raising a generation of deadbeats or … Continue reading “B of A Tracks Customs of P2P Users As Banks Ready To Take On Venmo”
Back To The Baseline? Ex-FDA Commish Califf Joins Verily As Advisor
In addition to a return to his old stomping grounds at Duke University, former FDA commissioner Robert Califf is going to work for Verily Life Sciences, the Silicon Valley R&D health group formerly known as Google Life Sciences. Verily published a blog post Wednesday in Califf’s name describing the vaguest outlines of his new gig. … Continue reading “Back To The Baseline? Ex-FDA Commish Califf Joins Verily As Advisor”
Proofpoint Uncovers Second Cyberattack That Uses Stolen NSA Tools
Cybersecurity company Proofpoint, which helped slow the sweeping global ransomware attack WannaCry after it emerged Friday, has now discovered a much more insidious, profitable, and potentially widespread cyberattack called Adylkuzz. Adylkuzz doesn’t demand, as WannaCry does, that victims pay a ransom to retrieve their data. Adylkuzz makes no announcement when it quietly invades target computers. … Continue reading “Proofpoint Uncovers Second Cyberattack That Uses Stolen NSA Tools”
5 Takeaways From the WannaCry Ransomware Attack
This may be the incident that finally pushes ransomware into the mainstream—and also forces both organizations and malicious hackers to adapt their approaches when it comes to this type of attack. The “WannaCry” virus, which first hit companies and healthcare services on Friday, has infected some 300,000 computer systems in 150-odd countries. By exploiting a … Continue reading “5 Takeaways From the WannaCry Ransomware Attack”
SRI’s Michigan Office Will Help Develop New VEE Vaccine
SRI International, the Menlo Park, CA-based nonprofit contract research giant, is counting on its Michigan office to play a crucial role in the development of a new vaccine. SRI has been awarded two contracts worth $4.7 million by the U.S. Army’s Joint Vaccine Acquisition Program to test and manufacture a potential new vaccine against Venezuelan equine … Continue reading “SRI’s Michigan Office Will Help Develop New VEE Vaccine”
Audentes Therapeutics Promotes John Gray to Chief Scientific Officer
Gene therapy developer Audentes Therapeutics (NASDAQ: [[ticker:BOLD]]) has promoted John Gray to senior vice president and chief scientific officer. Gray previously served as vice president of research and development for the San Francisco biotech. Before joining Audentes in 2014, Gray was assistant director of the Harvard Gene Therapy Initiative. Last year, Audentes raised $75 million in … Continue reading “Audentes Therapeutics Promotes John Gray to Chief Scientific Officer”
Amid Comey Furor, Companies React to Trump’s Cybersecurity Order
On a day dominated by news about President Trump’s firing of FBI director James Comey, and its impact on the ongoing investigation of Russian hacking of the 2016 presidential election, two significant developments for the cybersecurity industry also emerged Thursday. First, President Trump signed an executive order laying out plans to shore up data security … Continue reading “Amid Comey Furor, Companies React to Trump’s Cybersecurity Order”
Bio Roundup: Big Apple Mo’, Checkpoint Yes and No, CAR-T Death & More
“New York, New York, it’s a hell of a town. The Bronx is up, but we’re Brooklyn down.” For all you old-school Brooklyn swingers out there, we’ll take a short break from the madness in the nation’s capital and start our roundup in the greatest city in the world. You might disagree if you’ve got … Continue reading “Bio Roundup: Big Apple Mo’, Checkpoint Yes and No, CAR-T Death & More”
Merck Immunotherapy Drug Notches Another FDA Win in Lung Cancer
The FDA has approved use of a Merck drug in combination with chemotherapy as a first-line treatment for the most common type of lung cancer. The FDA approval for (NYSE: [[ticker:MRK]]) pembrozlizumab (Keytruda) to treat metastatic nonsquamous non-small cell lung cancer widens the use of the immunotherapy. Last year, the FDA approved it for lung … Continue reading “Merck Immunotherapy Drug Notches Another FDA Win in Lung Cancer”
AppDirect, Amazon, And The Role Of The Middleman
[Updated 5/11/17 10:21 am. See below.] Daniel Saks, co-founder of a fast-growing San Francisco tech company, says he admires Amazon for taking the friction out of “finding stuff and buying stuff.” Worn-out sheets? No need to drive to Bed Bath & Beyond, he says. Saks likes to think his company AppDirect does the same thing … Continue reading “AppDirect, Amazon, And The Role Of The Middleman”
Google Picks Up Owlchemy Labs, Austin-Based VR Startup
Austin—Google has bought Owlchemy Labs, an Austin, TX, virtual reality startup best known for its “Job Simulator” game. Relja Marcovik, engineering director of virtual reality and augmented reality at Google, announced the news in a blog post Wednesday, saying Owlchemy “set a high bar for what engagement can be like in virtual worlds, and do … Continue reading “Google Picks Up Owlchemy Labs, Austin-Based VR Startup”