[Updated 3/16/17, 9:44 a.m. See below.] Facebook Messenger is no longer just an app for messaging friends. The latest capability? It’s now a personal assistant for car insurance shopping. Thanks to a new product launched today by Insurify, a Cambridge, MA-based software startup, consumers can quickly compare car insurance quotes from dozens of carriers within … Continue reading “Insurify Gets $4.6M, Adds Insurance Search Bot on Facebook Messenger”
Category: San Francisco
Tax Reform and Choice of Business Entity
Choice of entity—how an entrepreneur decides to conduct the business—is a key decision with critical tax and non-tax implications. In the coming months, the White House is expected to release a detailed tax reform plan which, among other things, may include a significant reduction in corporate tax rates. If the anticipated changes are adopted, should … Continue reading “Tax Reform and Choice of Business Entity”
Former Gates Investor, Advisor Unveil $200M Biomatics Health Fund
After years of investing Bill Gates’s money and giving him scientific advice, two of the software billionaire’s associates have launched their own $200 million healthcare fund. Some of biotech’s highest-profile bets are already in their portfolio. Based in Seattle, Biomatics Capital Partners has been an open secret for some time thanks to its own regulatory … Continue reading “Former Gates Investor, Advisor Unveil $200M Biomatics Health Fund”
Relypsa Appoints Garland President, CEO Orwin to Step Away in June
Gastrointestinal drugs developer Relypsa has promoted Scott Garland to the position of president. Garland had previously served as senior vice president and chief commercial officer of the Redwood City, Calif-based company. Before joining Relypsa, Garland was vice president and chief commercial officer of South San Francisco-based Exelixis (NASDAQ: [[ticker:EXEL]]). His career also includes posts at … Continue reading “Relypsa Appoints Garland President, CEO Orwin to Step Away in June”
Airlines Must Improve IT Infrastructure Now or Pay Later
At the tail end of this past holiday season—on one of the busiest travel days of the year—thousands of arriving international passengers found themselves stuck for hours in the line at customs, waiting to be processed. It wasn’t a terror alert, mechanical failure, or nefarious cyberattack that caused long lines and huge delays for travelers … Continue reading “Airlines Must Improve IT Infrastructure Now or Pay Later “
First Trial in Sight, Editas Cuts $90M Eye Drug Deal With Allergan
Slowly but surely, CRISPR-Cas9 gene editing treatments are working their way towards human clinical testing, spurring more large pharmaceutical companies to get in on their future. The latest today is Allergan, which has just aligned itself with Editas Medicine on treatments for a group of genetic eye diseases. Allergan (NYSE: [[ticker:AGN]]) will pay Cambridge, MA-based … Continue reading “First Trial in Sight, Editas Cuts $90M Eye Drug Deal With Allergan”
Possible Cures. Mystery Deaths. Daunting Costs. Can CAR-T Be Tamed?
It’s a struggle that comic-book fans know well. Ordinary people, bestowed with super powers from a spider bite or gamma rays, struggle to harness their own abilities. T cells, key soldiers of the immune system, are wrestling with new-found super powers, too. Certain T cells hunt down invasive viruses, bacteria, and the body’s own bad … Continue reading “Possible Cures. Mystery Deaths. Daunting Costs. Can CAR-T Be Tamed?”
Scott Gottlieb On Tap to Lead FDA, and Biopharma Exhales
[Updated 3/12/17 with more comments, see below] The Trump administration has nominated Scott Gottlieb to be the new commissioner of the FDA, a selection that had the life sciences industry breathing a sigh of relief Friday afternoon. The 44-year-old Gottlieb is a physician, a venture partner at New Enterprise Associates, and was also the deputy … Continue reading “Scott Gottlieb On Tap to Lead FDA, and Biopharma Exhales”
Biotech Roundup: Obamacare Lite, DePinho Out, Dunsire In & More
We’ll start the roundup in Washington DC. The repeal of the Affordable Care Act, also known as Obamacare, began on the first day of the Trump administration. This week, the “replace” phase began with a Republican plan championed by House Speaker Paul Ryan (R-WI). President Trump backed it, too, but a lot of Republicans have … Continue reading “Biotech Roundup: Obamacare Lite, DePinho Out, Dunsire In & More”
Veering Off Topic With General Catalyst’s Larry Bohn
Larry Bohn is victim number 10 in my ongoing series of offbeat chats with Boston-area tech leaders. Bohn is a managing director of venture capital firm General Catalyst Partners, which he joined almost 15 years ago after running two software companies that he took public. Bohn invests in business software startups, mainly in e-commerce and … Continue reading “Veering Off Topic With General Catalyst’s Larry Bohn”
Biotech With Drug Developed by San Antonio Researcher Explores Sale
San Antonio — Galena Biopharma, a San Ramon, CA-based biotech that is developing a cancer vaccine created by a San Antonio researcher, has hired Canaccord Genuity to see if it can sell or merge the company, license its assets to another business, or make some other move to keep the drug research going. The news comes … Continue reading “Biotech With Drug Developed by San Antonio Researcher Explores Sale”
Uber Rides Can Expose Key Company Data, Appthority Says
Businesses may want to limit their employees’ use of Uber’s ride-hailing service to protect secrets such as merger discussions and the medical conditions of key executives, a Bay Area mobile cybersecurity firm says. In a review of Uber’s privacy and security measures, Appthority found that the newer version of Uber’s app is expanding its collection … Continue reading “Uber Rides Can Expose Key Company Data, Appthority Says”
Will Driverless Cars Ever Yield Profits for Uber and Lyft?
Uber has suffered a series of troubles early this year, from sexual harassment claims by a former staff engineer to an intellectual property theft lawsuit by Google unit Waymo. But Uber’s most longstanding, recurrent, and core problem stems from its relationship with its contract drivers. It’s not surprising that Uber is seeking an escape from … Continue reading “Will Driverless Cars Ever Yield Profits for Uber and Lyft?”
Toyota and Others Enabling Self-Driving Cars to Talk to Each Other
Drivers have plenty of ways to communicate with their fellow drivers, beyond the basic turn signal. Some methods are nice, like a friendly wave to beckon a merging car into your lane. Others, not so much. We’ve all probably cursed or honked at another driver, or been given the finger. But if driverless cars become … Continue reading “Toyota and Others Enabling Self-Driving Cars to Talk to Each Other”
Backed by $37M, Virta Tries Tech Approach to “Reverse” Diabetes
Diabetes treatment typically involves a combination of diet, exercise, and drugs. Patients can also choose gastric bypass surgery, which can cure diabetes in some cases. But new health IT startup Virta Health aims to bring data to the equation with an approach that it says can achieve the same outcomes as surgery, but in a … Continue reading “Backed by $37M, Virta Tries Tech Approach to “Reverse” Diabetes”
Immigrants Are the Best of Humanity and the Strength of Our Nation
[Editor’s note: This post was adapted from Mohamad Ali’s speech at a naturalization ceremony at the JFK Library in Boston on March 8, 2017.] My fellow immigrants, buenas tardes, masa-al-khayr, and good afternoon! I am deeply moved by the opportunity to be here today, to share this momentous occasion with you, and to personally return … Continue reading “Immigrants Are the Best of Humanity and the Strength of Our Nation”
Google’s Venture Arm Leads $51.7M Investment in Spero Therapeutics
Despite the growing problem of drug-resistant bacteria, few new antibiotics have been developed in recent decades. Spero Therapeutics is trying to fill that gap by assembling a pipeline of antibiotic candidates, and it now has $51.7 million in new capital to finance clinical trials on some of them. GV, the venture arm of Google, led … Continue reading “Google’s Venture Arm Leads $51.7M Investment in Spero Therapeutics”
Three Ways to Bolster The Innovation Ecosystem for Women
When the topic of encouraging more female leadership in the startup economy arises, discussions usually center on what women entrepreneurs should do differently. How they should present with greater authority, or how they should “dress the part” for their next investor pitch. Put frankly, how they should adopt any manner of different behaviors. I would … Continue reading “Three Ways to Bolster The Innovation Ecosystem for Women”
Sports Execs Trade VR for Augmented Reality at MIT Sloan Conference
[Corrected, 3/7/17, 9:56am. See below] At the MIT Sloan Sports Analytics Conference in Boston last Friday, the NBA’s senior vice president of digital media, Melissa Brenner, got bullish on the potential for augmented reality inside NBA arenas. She was decidedly cooler on virtual reality: the clunky equipment, the lack of content people will pay for, … Continue reading “Sports Execs Trade VR for Augmented Reality at MIT Sloan Conference”
How Boragen Banked $10M to Develop New Boron-Based Fungicides
No matter what pharmaceutical companies throw at bacteria and fungi, the microorganisms find ways to get ahead. Their ability to mutate and reproduce quickly gives rise to new generations resistant to anti-infective drugs. Fungal resistance also troubles farmers, but they’ve had few new crop treatments to choose from, in part because agricultural technology investment has … Continue reading “How Boragen Banked $10M to Develop New Boron-Based Fungicides”
Bio Roundup: Healthcare Is Hard, “Slow” FDA, Drugging RNA & More
In an address to Congress this week, President Donald Trump outlined many of his near-term goals, including an overhaul of the Affordable Care Act, also known as Obamacare, even as public opinion has begun to shift in favor of the law. Trump toned down his typical blunderbuss rhetoric, but he had choice words for the … Continue reading “Bio Roundup: Healthcare Is Hard, “Slow” FDA, Drugging RNA & More”
Capital Stockpile Grows as Venture Fund-Raising Hits Recent High
In the venture capital business, a rising tide lifts all boats. That’s the idea, at least. A new report released today by Seattle-based PitchBook shows that U.S. venture firms have plenty of capital to invest in new companies, after 328 venture funds raised a total of $51.6 billion in 2016. That’s a high-water mark for … Continue reading “Capital Stockpile Grows as Venture Fund-Raising Hits Recent High”
Snap Raises $3.4B in IPO, Soaring Trades Set Value Past $20B
Snap, which rose to unicorn status based on a social media app that creates quickly vanishing photos, attracted solid investor interest in an IPO that raised $3.4 billion and sent shares up more than 50 percent above the initial offering price during the first day of trading today. Snap (NYSE: [[ticker:SNAP]]) priced its IPO shares … Continue reading “Snap Raises $3.4B in IPO, Soaring Trades Set Value Past $20B”
Trump and Kalanick: Twin Chief Executives Face Similar Problems
In the rinse-repeat rhythm of Uber’s PR crises, it’s easy to miss that this particular cycle has been a long one. Uber’s latest wave of negative press began in January with a backlash against CEO Travis Kalanick’s role on President Donald Trump’s White House business advisory panel. There’s some irony here, because Trump and Kalanick … Continue reading “Trump and Kalanick: Twin Chief Executives Face Similar Problems”
No Details Yet, But Genentech Drug Combo Wins in Big Breast Cancer Study
There may be a new standard of care coming for a large portion of women with breast cancer who have had surgery to remove their tumors. A drug from Roche’s South San Francisco, CA, Genentech unit, known as pertuzumab (Perjeta), has helped reduce the risk of death for such women when given in combination with … Continue reading “No Details Yet, But Genentech Drug Combo Wins in Big Breast Cancer Study”
Amazon’s Alexa Opens New Path for Earplay’s Interactive Audio Stories
The woman has been anxious since the moment she sat down at my table in the restaurant. I’ve never seen her before in my life, but she just handed me a small vial of some unknown, green liquid. It’s slightly warm to the touch. “She begins to move away, and you figure you’ve only got … Continue reading “Amazon’s Alexa Opens New Path for Earplay’s Interactive Audio Stories”
Detroit, Silicon Valley Collaborate on Path to Self-Driving Cars
As the race to get autonomous vehicles on the road revs up, there has been much discussion in the auto industry about who will lead the charge. Because of the new technologies involved in the development of self-driving cars, many initially assumed that Silicon Valley would take the driver’s seat instead of Detroit. But it’s … Continue reading “Detroit, Silicon Valley Collaborate on Path to Self-Driving Cars”
Nearpod, A Pioneer of VR in Edtech, Raises $21M
Nearpod, an educational technology company that added low-cost virtual reality headsets to its offerings early last year, raised $21 million in a Series B round announced today. The new round, led by New York-based Insight Venture Partners, brings total fundraising to $30.2 million for Nearpod, which made a bet that K-12 students would be captivated … Continue reading “Nearpod, A Pioneer of VR in Edtech, Raises $21M”
After Trial Deaths, Juno Pivots and Scraps Lead CAR-T Therapy
Juno Therapeutics said today it would discontinue its experimental CAR-T cell product known as JCAR015. It was once Juno’s top candidate as the company raced rivals to be the first to win approval of a new kind of cancer treatment called CAR-T. The decision was not unexpected. Juno (NASDAQ: [[ticker:JUNO]]) hoped that a 110-person clinical … Continue reading “After Trial Deaths, Juno Pivots and Scraps Lead CAR-T Therapy”
Drugmakers, Amazon Back Grail’s Big Cancer Trials With $900M
Last month, Grail publicly spread word of intentions to raise more than $1 billion in an ambitious quest to develop a blood test that can diagnose and detect cancer at its earliest stages. Today, the Menlo Park, CA, startup has revealed the crop of drugmakers and others it has secured to fund the effort. Grail … Continue reading “Drugmakers, Amazon Back Grail’s Big Cancer Trials With $900M”
Former FDA Commissioners Califf, McClellan Talk Healthcare’s Future
The top spot at the FDA remains vacant, and the change in presidential power has some healthcare observers wondering about possible changes for the regulator. One month removed from serving as FDA commissioner, Robert Califf says the agency can be improved through a combination of precedent, experience, and evidence. Califf, who served less than one … Continue reading “Former FDA Commissioners Califf, McClellan Talk Healthcare’s Future”
Achaogen Promotes Blake Wise to President, & More Executive Moves
Antibacterial drug developer Achaogen (NASDAQ: [[ticker:AKAO]]) has promoted Blake Wise to the position of president and chief operating officer, an expansion of his current role. Wise joined the South San Francisco-based company in 2015 as chief operating officer. Before joining Achaogen, Wise had held various posts at Genentech. In other moves, Achaogen promoted Lee Swem … Continue reading “Achaogen Promotes Blake Wise to President, & More Executive Moves”
Nonprofit Seeds Exonics to Fund Push For CRISPR Duchenne Treatment
Two newly approved drugs slow the progression of the rare and deadly Duchenne muscular dystrophy, but nothing on the market actually reverses the march of the disease. An emerging group of experimental gene therapy and gene editing treatments designed to do so are creeping towards human clinical testing, however, and one of them has just … Continue reading “Nonprofit Seeds Exonics to Fund Push For CRISPR Duchenne Treatment”
Bio Roundup: Trump Backlash, Verdine Plans, Sarepta Sale & More
A short week makes for a shorter roundup. As we’ve come to expect, however, there was no dearth of health and life-sciences news from Washington, D.C. A bipartisan group of Congress members who oversee health policy countered President Donald Trump’s encouragement of vaccine skeptics; the real test will be the upcoming budget’s funding of Centers … Continue reading “Bio Roundup: Trump Backlash, Verdine Plans, Sarepta Sale & More”
Bowery Bags $7.5M to Break Into Fast-Growing Indoor Farming Market
[Updated 2/23/2017 11:21 am] City real estate comes with premium prices, so the best way for developers to get the most out of limited space is by building skyward. The same approach holds true in urban agriculture. As vertical farms catch on in more cities, new agtech startup Bowery is entering the market backed by … Continue reading “Bowery Bags $7.5M to Break Into Fast-Growing Indoor Farming Market”
Sexual Harassment Claims Add to Turbulent Times for Uber
For the second time in less than a month, Uber CEO Travis Kalanick found himself fending off critical questions from his own employees at a Tuesday company-wide meeting. The last time, Kalanick was trying to justify remaining on President Trump’s economic advisory council after Trump issued a sudden travel ban against refugees and people from … Continue reading “Sexual Harassment Claims Add to Turbulent Times for Uber”
Amazon, Uber, and Bill Gates’s Robot Tax: An Automation Snapshot
As we gear up for Robo Madness 2017: A.I. Gets Real, our annual robotics and artificial intelligence conference at Google’s offices in Kendall Square, let’s connect a few dots around the topic of automation. In just the past day or two: —Uber has started testing self-driving cars in Tempe, AZ, after having its tests banned … Continue reading “Amazon, Uber, and Bill Gates’s Robot Tax: An Automation Snapshot”
Cashing in On Duchenne Approval, Sarepta Sells Voucher to Gilead For $125M
Sarepta Therapeutics didn’t just get its first drug to market when the FDA approved the Duchenne muscular dystrophy drug eteplirsen (Exondys 51) last year—it got a potentially lucrative voucher from the FDA too. Today the Cambridge, MA, company cashed that in. Sarepta (NASDAQ: [[ticker:SRPT]]) this morning sold what’s known as a priority review voucher to … Continue reading “Cashing in On Duchenne Approval, Sarepta Sells Voucher to Gilead For $125M”
Agtech Accelerator Radicle Recruits Industry Vets to Mentor Startups
Former Sapphire Energy CEO Jason Pyle is one of four agricultural technology veterans who have agreed to advise the startups taking root at Radicle, the San Diego-based accelerator focused on agricultural and food tech ventures. Radicle named Pyle, who is now the CEO of BaseHealth, a Silicon Valley healthtech developer of analytic software, as a … Continue reading “Agtech Accelerator Radicle Recruits Industry Vets to Mentor Startups”
Lumina Foundation Gives Odds For Edtech Innovation Under Trump
[Corrected 2/22/17, 9:35 am. See below.] Bipartisanship hasn’t exactly been the watchword in Washington over the past month as the new Trump administration grapples with stalled nominations, court battles over its travel ban, and investigations of campaign contacts with Russia. But deeply divided politicians may still find some common ground over education policy—in ways that … Continue reading “Lumina Foundation Gives Odds For Edtech Innovation Under Trump”
AcelRx Pharmaceuticals Picks Vincent Angotti for CEO Post
Vincent Angotti is joining AcelRx Pharmaceuticals (NASDAQ: [[ticker:ACRX]]) as the Redwood City, CA-based pain drug developer’s CEO. Agnotti was most recently CEO of XenoPort. His experience also includes roles at Reliant Pharmaceuticals and Novartis (NYSE: [[ticker:NVS]]). Angotti will start at AcelRx on March 6.
Bio Roundup: CRISPR Drama, Marathon and PhRMA, the Price of Vision & More
News may be coming out of Washington, DC, at a breakneck pace, but concrete plans regarding the future of the nation’s healthcare system, the FDA, and the pharmaceutical industry have been much slower to materialize. The consternation about President Donald Trump’s coming pick for FDA commissioner was palpable this week at the BIO CEO & … Continue reading “Bio Roundup: CRISPR Drama, Marathon and PhRMA, the Price of Vision & More”
Regenerative Med Firm Surrozen Unveils $33M to Tackle Tissue Repair
Regenerative medicine technologies aim to tap into the body’s innate healing abilities to grow and repair tissue. But the triggers that activate these healing powers have been a mystery to scientists for years. New startup Surrozen believes it has a solution and has raised $33 million in funding to test its approach. The Column Group … Continue reading “Regenerative Med Firm Surrozen Unveils $33M to Tackle Tissue Repair”
Patent Judges’ CRISPR Ruling For Broad Leaves Daylight For Berkeley
The U.S. Patent and Trademark Office has made a decision in the patent fight over ownership of the landmark CRISPR-Cas9 gene editing technology. The ruling is in favor of the Broad Institute of MIT and Harvard, whose 2014 patents were challenged by a group led by the University of California, Berkeley (UC). But the ruling … Continue reading “Patent Judges’ CRISPR Ruling For Broad Leaves Daylight For Berkeley”
With “Go,” Amazon Identifies Another Job It Can Do Better
Early last year, I “fired” talk radio along with NPR’s morning and evening editions. That same day, I “hired” Amazon Audible as my commute companion. It wasn’t a difficult decision. Audible is far better than its predecessors at doing the job I need done as I travel to and from my office – provide on-demand … Continue reading “With “Go,” Amazon Identifies Another Job It Can Do Better”
Fintech VC Backing Dipped 13 Percent in 2016, Mirroring Rest of Tech
The final numbers on 2016 fintech funding deals are in from New York-based research firm and investment database CB Insights, and venture capitalists seem to be cooling on the industry. According to a report released today, financial technology companies around the world attracted $12.7 billion in venture capital across 836 investments last year. That is … Continue reading “Fintech VC Backing Dipped 13 Percent in 2016, Mirroring Rest of Tech”
With $20M, UCSD Spinout Jecure To Press New Attack On NASH
[Updated 2/15/17, 8:10 pm ET. See below.] Liver disease is challenging for doctors because it can develop without symptoms, making diagnosis difficult without removing cells for examination. For these reasons, fatty liver disease is often called a “silent disease,” says Ariel Feldstein, a gastroenterologist at the University of California San Diego. Feldstein has been studying the … Continue reading “With $20M, UCSD Spinout Jecure To Press New Attack On NASH”
Voice Privacy Experts: Careful, We’re Bugging Ourselves
A cybersecurity executive I talked to recently raised a scenario like this: You and your cousin swap opinions about a standout basketball player one night. The next day you get an email from your cousin’s friend. He says your cousin told him you’d like this new article about your favorite point guard, and he attaches … Continue reading “Voice Privacy Experts: Careful, We’re Bugging Ourselves”
Starting a Medtech Company? Try Skipping Venture Capital, VCs Say
San Antonio — What’s the best way to build a startup? Bootstrap it, raise little or no VC funding, and (ideally) sell it for hundreds of millions—or billions—of dollars, according to two venture capitalists. That’s what they did at least. Andrew Farquharson, now the managing director of InCube Ventures in San Jose, CA, was the chief … Continue reading “Starting a Medtech Company? Try Skipping Venture Capital, VCs Say”
FDA Turmoil, Biology Mystery On List Of Hurdles For Microbiome Drugs
In three years, investment has jumped more than twenty-fold in startups developing medicines that change the interactions between our bodies and the bacteria that colonize it, known collectively as the human microbiome. But as a panel of industry insiders noted yesterday at the BIO CEO & Investor Conference Monday, the field faces several challenges—including lack … Continue reading “FDA Turmoil, Biology Mystery On List Of Hurdles For Microbiome Drugs”