In virtual reality games you can choose an avatar, leave your couch potato body behind, and appear instead as a rugged explorer or a monster roaring to defend its turf. Pretty soon, you might be able to let your emotions show through, even as you transform outwardly into a fantasy character. One company trying to … Continue reading “MindMaze Projects Your Smiles, Frowns On Face Of Your VR Avatar”
Category: San Francisco
Cirius Therapeutics Raises $40M to Expand Ongoing Liver Study
A $40 million transfusion led by Frazier Healthcare Partners and Denmark’s Novo A/S is bringing fresh life to a Michigan biotech working to advance a new experimental drug for treating a type of non-alcoholic fatty liver disease. As part of the financing, Kalamazoo-based Octeta Therapeutics has been rechristened Cirius Therapeutics, and three San Diego-based biotech … Continue reading “Cirius Therapeutics Raises $40M to Expand Ongoing Liver Study”
Frequency Nabs $32M, Will Push Hearing-Loss Drugs To Human Studies
Hearing loss, which affects millions of Americans with no effective drugs to fight it, has become a ripe field for biotech investment. The latest example is Frequency Therapeutics, which sprung from MIT earlier this year and has just corralled a big round of funding. The Woburn, MA-based startup has raised a $32 million Series A … Continue reading “Frequency Nabs $32M, Will Push Hearing-Loss Drugs To Human Studies”
The Otonomy Story and the Human Impact of Innovation
[Editor’s note: Jay Lichter will discuss his personal odyssey in drug development on April 19 at The Xconomy Forum on the Human Impact of Innovation. Online registration is here.] I am a pharmaceutical scientist and a biotech venture capitalist. I start companies that are focused on creating new drugs. So when my doctor told me … Continue reading “The Otonomy Story and the Human Impact of Innovation”
After Medivation Sale, ex-CEO David Hung Lands Top Spot At Axovant
Axovant Sciences, with a high-profile Alzheimer’s treatment in Phase 3 studies, has brought on David Hung as CEO. Hung was founder, president, and CEO of San Francisco-based Medivation, which Pfizer (NYSE: [[ticker:PFE]]) bought for $14 billion last year, in large part to gain control of the prostate cancer drug enzalutamide (Xtandi). Medivation’s Marion McCourt will … Continue reading “After Medivation Sale, ex-CEO David Hung Lands Top Spot At Axovant”
OncoMed Shares Sink as One Drug Fails, Bayer Kicks Back Two Others
OncoMed Pharmaceuticals got a double dose of bad news on Monday. For the second time, one of its stem cell drugs has failed to help pancreatic cancer patients. And what’s more, partner Bayer has passed on options to two of its other cancer drugs. Redwood City, CA-based OncoMed (NASDAQ: [[ticker:OMED]]) said this morning that demcizumab, … Continue reading “OncoMed Shares Sink as One Drug Fails, Bayer Kicks Back Two Others”
San Diego Social Media Startup Soci Adds Austin Office, Raises $8.5M
Soci, a San Diego startup that created a Web platform for managing social media, has closed on $8.5 million in Series A financing that will be used to build on the company’s recent growth, including a second office in Austin, TX, according to co-founder and CEO Afif Khoury. The five-year-old startup, which had 35 employees … Continue reading “San Diego Social Media Startup Soci Adds Austin Office, Raises $8.5M”
McAfee: Hackers Use Their Own Form of “Fake News” In Cyberattacks
Russian hackers reportedly used a barrage of “fake news” items to distract and confuse voters in the 2016 U.S. presidential election—crowding out genuine information that could better guide their decisions. Data security analysts are already familiar with a similar tactic used in cyberattacks against businesses. Hackers have been known to launch large-scale decoy attacks to … Continue reading “McAfee: Hackers Use Their Own Form of “Fake News” In Cyberattacks”
Bio Roundup: Gottlieb Talks Vax, Acorda’s Axe, Adams, 23andMe & More
In the nation’s capital, healthcare and life sciences were on center stage. Or stages, actually. On Capitol Hill, FDA commissioner nominee Scott Gottlieb, the drug industry’s favorite pick, told senators his extensive industry ties wouldn’t cloud his judgment or create conflicts. At a downtown convention center, Joe Biden slammed the Trump administration’s budget-cutting plans. And … Continue reading “Bio Roundup: Gottlieb Talks Vax, Acorda’s Axe, Adams, 23andMe & More”
FDA OKs 23andMe’s Direct-to-Consumer Genetic Tests, With Caution
[Updated 4/6/17, 7:42 pm. See below.] Consumers who aren’t squeamish about spitting into a tube and sending it to a lab can now have 23andMe test those samples to assess their risk of developing Parkinson’s, Alzheimer’s, and eight other disorders. On Thursday, the FDA gave the Mountain View, CA-based genetic testing startup the green light … Continue reading “FDA OKs 23andMe’s Direct-to-Consumer Genetic Tests, With Caution”
AACR Review: Biden Fired Up, Incyte Doubles Up, BMS Up And Down
The American Association for Cancer Research held its annual meeting this week in Washington, DC, a convenient venue for former Vice President Joe Biden to deliver a broadside against the Trump administration’s proposed budget cuts in science funding. For Biden, it’s personal. In the final year of the Obama administration, he championed a push for … Continue reading “AACR Review: Biden Fired Up, Incyte Doubles Up, BMS Up And Down”
Some Cause for Optimism in Hired’s Research on Gender Wage Gap
Amid the ongoing conversation about gender discrimination in the tech industry, and recent sexual harassment claims against some of its biggest names, here’s some sort-of good news about women in tech: When companies make job offers to both men and women, women receive lower salary offers 63 percent of the time for the same job, … Continue reading “Some Cause for Optimism in Hired’s Research on Gender Wage Gap”
Over 8,000 Uber & Lyft Drivers Fail New MA Background Checks
More than 8,200 Uber and Lyft drivers in Massachusetts have failed a new and more stringent state background check, according to multiple media reports. Massachusetts officials said Wednesday that 8,206 of the 70,789 applicants—more than 11 percent—were rejected, according to media reports. The most common reasons included having a suspended driver’s license or being licensed … Continue reading “Over 8,000 Uber & Lyft Drivers Fail New MA Background Checks”
FDA Nominee Scott Gottlieb To Anti-Vaccine Crowd: Get Over It
In what passes for a short hearing these days in Washington, DC, the Trump White House’s pick to run the Food and Drug Administration, Scott Gottlieb, spent less than three hours fielding questions from a Senate committee Wednesday morning. Amid predictable splits between Republican praise for his past industry experience and Democrat fire over potential … Continue reading “FDA Nominee Scott Gottlieb To Anti-Vaccine Crowd: Get Over It”
InTeahouse Accelerator Wants Startups to Think Globally, Build Locally
There’s a new startup accelerator program in town, and it’s got an international flavor. This week, InTeahouse announced the launch of its “InSeven” investment program that will provide capital, office space, and other resources to startups working in robotics, advanced materials, life sciences, cleantech, telecommunications, new media, and financial technology. In a crowded field of … Continue reading “InTeahouse Accelerator Wants Startups to Think Globally, Build Locally”
Slowdown Continues in First-Quarter VC Funding—and Top 10 Deals
Is a caution flag flying? While U.S. venture firms refueled last year by raising a near-record $51.6 billion, they also eased off the throttle in terms of their investment activity during the first quarter of 2017, according to data released today by Seattle-based PitchBook and the National Venture Capital Association (NVCA). According to the latest … Continue reading “Slowdown Continues in First-Quarter VC Funding—and Top 10 Deals”
New Blood: Biotech CEOs Bring Fresh Experience to Houston Ecosystem
Houston—A number of Houston biotech companies have new leadership at the helm. These leadership changes include a few executives like Lonnel Coats, CEO of Lexicon Pharmaceuticals (NASDAQ: [[ticker:LXRX]]), who have relocated to Houston from the East and West coasts—homes of more established and successful biotech ecosystems. “We had the ability to move the company to … Continue reading “New Blood: Biotech CEOs Bring Fresh Experience to Houston Ecosystem”
To Infinity and Beyond: Julian Adams on Missteps and His New Job
Julian Adams left Boston pharma Millennium Pharmaceuticals in 2003 having accomplished a rare feat. A medicinal chemist by training, Adams helped shepherd along a drug known as bortezomib (Velcade) that was the first-ever approved inhibitor of the proteasome, the cell’s garbage disposal unit. It was an approach most people thought would never work. “Everybody was … Continue reading “To Infinity and Beyond: Julian Adams on Missteps and His New Job”
How Battling New Epidemics Helps Fight Age-Old Killers
Washington state has reported nearly 300 cases of mumps this winter and experts predict this may be the state’s worst flu season in years, a stark reminder of how dangerous even familiar viruses can be. While the Ebola and Zika outbreaks have dominated the headlines in recent years, they are part of a paradigm we … Continue reading “How Battling New Epidemics Helps Fight Age-Old Killers”
Robo Madness 2017: The Photos and Takeaways
Third time’s a charm… and our third annual Robo Madness conference in Boston had plenty of that. (So did the first two.) From live robot demos to provocative discussions on the opportunities and challenges in artificial intelligence, our speakers really delivered on this year’s theme: A.I. Gets Real. Huge thanks to our host, Google, whose … Continue reading “Robo Madness 2017: The Photos and Takeaways”
Bio Roundup: New Drug Bonanza, Vertex’s Triple Play, CAR-T Race & More
As far as singular weeks go for biotech, this was a big one. Three highly anticipated drugs were approved. One is the first injectable medication for eczema. Another might help fend off the recurrence of ovarian cancer. And a third offers hope for people with severe forms of multiple sclerosis. Another drug, a new combination … Continue reading “Bio Roundup: New Drug Bonanza, Vertex’s Triple Play, CAR-T Race & More”
Catalia’s Big-Eyed Robots Soon Will Nudge Patients To Take Their Meds
Cory Kidd discovered during a graduate school project at MIT Media Lab that patients are more likely to follow doctor’s orders if they get the nudge from a talking robot, rather than the same reminder from an animated character on a computer screen. That research, and his further health robotics work, prompted Kidd to found … Continue reading “Catalia’s Big-Eyed Robots Soon Will Nudge Patients To Take Their Meds”
Echo Raises $7.5M to Meet Big Orders for Hybrid Digital Microscope
Echo, a San Diego startup that has developed a digital, all-in-one microscope, says today it has closed on $7.5 million in a Series A round led by San Francisco-based Dolby Family Ventures and Southern California’s Tech Coast Angels. In a phone interview this afternoon, founder Eugene Cho (the E.Cho in Echo) tells me the three-year-old … Continue reading “Echo Raises $7.5M to Meet Big Orders for Hybrid Digital Microscope”
Progress Buys DataRPM for $30M to Build “Cognitive” Business Apps
[Updated 4/3/17, 4:39 pm. See below.] Progress Software, a 36-year-old software company, is pushing into machine learning and connected device technologies with its $30 million acquisition of DataRPM, a privately held firm based in Redwood City, CA. The deal is the first acquisition made by new Progress CEO Yogesh Gupta, who took the helm in … Continue reading “Progress Buys DataRPM for $30M to Build “Cognitive” Business Apps”
Third Rock’s Tango Aims For Drugs That Turn Cancer Against Itself
As the understanding of cancer advances, scientists are discovering built-in features of the disease’s own biology that can be tapped to halt its growth. Biotech startup Tango Therapeutics believes it can build on this concept to develop new cancer drugs, and it is now unveiling its approach, backed by $55 million in financing. The Series … Continue reading “Third Rock’s Tango Aims For Drugs That Turn Cancer Against Itself”
With FDA Approval, Genentech Drug Becomes First For Severe MS Cases
The FDA has approved a new Genentech multiple sclerosis drug, ocrelizumab (Ocrevus), that will become the first ever marketed therapy for the most severe form of the disease. Multiple sclerosis comes in different forms characterized by the severity and progression of the disease. While many drugs are available to treat MS, up until now, none … Continue reading “With FDA Approval, Genentech Drug Becomes First For Severe MS Cases”
Under Spotlight, Uber Reveals Lack of Diversity And Pledges Change
In the latest step to patch up its reputation after a series of hits this year, Uber released a gender and ethnic diversity report on the company today and promised to make its predominantly white, male staff more inclusive. The San Francisco-based ride-hailing giant says men make up 63.9 percent of its total global employees, … Continue reading “Under Spotlight, Uber Reveals Lack of Diversity And Pledges Change”
With New Data, Vertex Touts Backbone Of Future Cystic Fibrosis Drugs
With new data released this evening, Vertex Pharmaceuticals is closer to bringing its third cystic fibrosis treatment to market, which would mean the company’s product line could potentially treat upwards of 40 percent of the roughly 70,000 people with the disease worldwide. The late-stage data for the combination of ivacaftor, already approved as Kalydeco, and … Continue reading “With New Data, Vertex Touts Backbone Of Future Cystic Fibrosis Drugs”
RightHand Robotics Picks Up $8M to Automate Next-Gen Warehouses
A funny thing happened in the five years since Amazon acquired warehouse automation firm Kiva Systems for $775 million. The logistics robot market has taken off, with different competing systems shuttling inventory around to try to speed up order fulfillment. But tasks requiring manual dexterity are still hard to automate. Now, several companies and research … Continue reading “RightHand Robotics Picks Up $8M to Automate Next-Gen Warehouses”
Bullhorn CEO Talks Tech Unicorns, Voice Interfaces, & A.I. Hype
Last week, Xconomy published a story about how I jammed with Bullhorn CEO Art Papas in the music room at his software company’s downtown Boston headquarters. Hard-hitting journalism, I know. But our meeting wasn’t just about rocking out to a Foo Fighters song. We also chatted about his 18-year-old company’s ups and downs, why it … Continue reading “Bullhorn CEO Talks Tech Unicorns, Voice Interfaces, & A.I. Hype”
Intel Combines Global AI Work Under Former Nervana Systems CEO
Roughly seven months after Intel (NASDAQ: [[ticker:INTC]]) acquired San Diego-based Nervana Systems, the chipmaker is consolidating its portfolio of artificial intelligence businesses in one group, headed by former Nervana CEO Naveen Rao. Rao (pictured above right) will report directly to Intel CEO Brian Krzanich, spokesman Daniel Francisco said today. Rao plans to remain in San … Continue reading “Intel Combines Global AI Work Under Former Nervana Systems CEO”
Bio Roundup: Trumpcare Wavers, Amgen Courts Payers, Critics Circle PTC
Who knew healthcare could be so complicated? This week, President Trump and the GOP saw first hand, as a feverish rally to get their healthcare bill through the House of Representatives on Thursday stalled before a vote. Elsewhere in Washington DC, drug pricing continued to be a political football. Two well known congressional drug pricing … Continue reading “Bio Roundup: Trumpcare Wavers, Amgen Courts Payers, Critics Circle PTC”
Kayak Expands to New Platforms as A.I. Assistants Proliferate
[Corrected, 3/24/17, 2:37 p.m. See below.] As Kayak attempts to build a better virtual travel agent, the tech firm is expanding beyond its core website and mobile app, and establishing a presence on additional types of technology platforms. Since mid-2015, Stamford, CT-based Kayak has made its travel-search service available to consumers on Apple Watch, Slack, … Continue reading “Kayak Expands to New Platforms as A.I. Assistants Proliferate”
VC Blumberg Betting On Automation in Data Security
David Blumberg helped pioneering firewall company Check Point Software Technologies during its early days as a business in the 1990’s, and he has been observing the development of the cybersecurity industry as an investor since that time. His take on data security today, after more than 25 years? “The state of security is abysmal,” Blumberg … Continue reading “VC Blumberg Betting On Automation in Data Security”
Ripcord Raises $9.5M To Digitize Paper Records With Robots
Alex Fielding says he started his records management software company, Ripcord, because he was astonished. It all began when the initial public offering of a friend’s tech company hit a snag over the retrieval of information for the IPO filing from paper records stored and managed by an outside company. “I had heard my whole … Continue reading “Ripcord Raises $9.5M To Digitize Paper Records With Robots”
Amid Gender Gap Talk, Mentor Network Emerges For Women In Health, Bio
It’s been more than a year since an infamous party with hired models in cocktail dresses captured the biotech community’s attention at the 2016 J.P. Morgan conference. There has been plenty of talk since about closing biotech’s notable gender gap. At this year’s J.P Morgan conference, for example, a group of 100 life science executives … Continue reading “Amid Gender Gap Talk, Mentor Network Emerges For Women In Health, Bio”
Building a Local Innovation Ecosystem
Co-authored with Rudy Gadre, general partner at Founders’ Co-op. Western Washington is already home to some of the most innovative people, companies, and academic programs in the world. And yet we should be doing much more to connect and support our local innovators, to attract more agents of change to the region, and to help them … Continue reading “Building a Local Innovation Ecosystem”
Coffee Meets Bagel Starts Premium Model to Push In-App Currency
Dating app Coffee Meets Bagel is launching a premium service that gives subscribers information about their potential suitors’ activities and makes it easier for them to access and spend the in-app currency that makes the company money. The premium subscription costs $34.99. Coffee Meets Bagel doesn’t charge for its basic services, but it does let … Continue reading “Coffee Meets Bagel Starts Premium Model to Push In-App Currency”
BioClin Gets $30M to Back More Bladder Cancer Drug Trials
BioClin Therapeutics has raised $30 million in funding to move forward with more tests of its experimental treatment for bladder cancer. New investors Sofinnova Ventures and Ysios Capital led the Series B round of financing for San Ramon, CA-based BioClin. Earlier investors HealthCap, Life Sciences Partners, and Tekla Capital Management also participated in the investment. … Continue reading “BioClin Gets $30M to Back More Bladder Cancer Drug Trials”
Join David Baltimore, Nicole Glaros, Nathan Myhrvold, & More at Our Napa Summit
Year after year, Xconomy has gathered exemplary business leaders, investors, and far-seeing technologists to our most prestigious event—The Napa Summit. This year is no different. Come join us in the heart of wine country on June 8 and 9 to listen to visionary speakers and connect with fellow innovators. The Napa Summit is by invitation-only, … Continue reading “Join David Baltimore, Nicole Glaros, Nathan Myhrvold, & More at Our Napa Summit”
Mythic Reveals Novel Chip to Empower Devices With AI, Raises $9M
With ever-smaller smartphones now flaunting the computing powers of yesteryear’s hefty business machines, it might look like Moore’s Law has yet to be repealed. In 1965, Intel co-founder Gordon Moore saw computer chips doubling in processing power every year, and predicted the exponential rise of smaller, cheaper, and faster devices. But Michael Henry, co-founder of … Continue reading “Mythic Reveals Novel Chip to Empower Devices With AI, Raises $9M”
SutroVax Lands $64M From Roche, Others to Back Vaccine Studies
Vaccines may be available for pneumococcal infections, but none of them, including the widely used Prevnar 13, can cover all strains. SutroVax is one of the startups trying to solve that problem, and today raised $64 million to test its approach in humans. New investors Frazier Healthcare Partners and Pivotal bioVenture Partners led the Series … Continue reading “SutroVax Lands $64M From Roche, Others to Back Vaccine Studies”
Tech Exec Ahmed Rubaie on Trump’s Travel Ban and Silicon Valley
In late January, when President Donald Trump’s first executive order banning all refugees and travelers from seven Muslim-majority countries was announced, Ahmed Rubaie’s mother-in-law was out of the country visiting Jordan. Although his mother-in-law is a green card holder, and Jordan wasn’t included in the ban, Rubaie’s wife was beside herself. She began making frantic … Continue reading “Tech Exec Ahmed Rubaie on Trump’s Travel Ban and Silicon Valley”
No Pain, No High: Nektar’s Opioid Drug Hits Trial Goals, Lifts Shares
An experimental opioid drug from Nektar Therapeutics now has clinical trial results showing that it can relieve pain without causing a high. The news may offer a potential alternative to the addictive qualities of prescription painkillers that are fueling a nationwide opioid epidemic. Nektar (NASDAQ: [[ticker:NKTR]]) released the Phase 3 clinical trial results today and … Continue reading “No Pain, No High: Nektar’s Opioid Drug Hits Trial Goals, Lifts Shares”
First Trial Underway, CytomX Gets $200M More In Expanded Bristol Pact
It’s tough to stand out in the cancer immunotherapy crowd, where a slew of companies are testing a variety of drug combinations and new methods to help boost responses to existing treatments. But CytomX Therapeutics has clearly gotten the attention of one of the field’s major players, Bristol-Myers Squibb, which has just re-upped and expanded … Continue reading “First Trial Underway, CytomX Gets $200M More In Expanded Bristol Pact”
Talking Driverless Cars, March Madness on Stocks and Jocks Radio
I hit the airwaves Friday morning to talk venture capital, startups, self-driving cars, and March Madness. Stocks and Jocks, a Chicago-based weekday business and sports talk radio program, invited me on the show to share my thoughts on some of the latest trends in the startup world. Hosts Tom Haugh and Kathy Dervin bantered with … Continue reading “Talking Driverless Cars, March Madness on Stocks and Jocks Radio”
With New Data, Amgen Promises Refund If Cholesterol Drug Doesn’t Work
Stung by slow sales of its next-generation anti-cholesterol drug, Amgen hopes new clinical data, released this morning, will spur doctors to boost prescriptions and—perhaps more important—drive insurers to loosen their restrictions. The data, from a massive study of more than 27,000 patients, come at a time when drug and healthcare prices are a top U.S. … Continue reading “With New Data, Amgen Promises Refund If Cholesterol Drug Doesn’t Work”
Bio Roundup: Trump Budget, FDA Chief, CAR-T Qs, CRISPR Cash, & More
If it wasn’t clear that the Trump administration disdained most types of scientific inquiry and practice, the White House’s proposed budget drove the point home. The top-line figures: a nearly 20 percent cut in the National Institutes of Health, and a 30 percent cut in the Environmental Protection Agency. These and other cuts to programs … Continue reading “Bio Roundup: Trump Budget, FDA Chief, CAR-T Qs, CRISPR Cash, & More”
Doing “Defense the Silicon Valley Way” Pays for Daylight Solutions
Startups that develop advanced military technologies often never come to light. But San Diego’s Daylight Solutions has managed to openly thrive in two very different markets. The company has advanced its specialized solid-state laser technology for customers in both the defense industry and commercial sector. Paul Larson, who co-founded Daylight Solutions with CEO Tim Day … Continue reading “Doing “Defense the Silicon Valley Way” Pays for Daylight Solutions”
Machine Learning 201: Exploring the Market for New Business
2016 will be remembered for many things, not least as the year that AI and machine learning stepped into the technological and cultural spotlight. Advances in applied machine learning fueled our enthusiasm for smarter, more talkative devices. It impacted how we learned about and processed the news—and fake news—of the national elections. Automation grew in … Continue reading “Machine Learning 201: Exploring the Market for New Business”