When MIT and IBM launched a joint research lab in 2017, the New York-headquartered company pledged $240 million over a decade to chip away at the fundamental obstacles keeping artificial intelligence from transforming industries like healthcare and cybersecurity. Now, the Cambridge, MA-based MIT-IBM Watson AI Lab is growing in personnel, funding, partners, and square feet, … Continue reading “New Deals May Double $240M Funding For MIT-IBM AI Lab, Director Says”
Category: Boston
High-Flying Ginkgo Nets Another $290M to Program Cells Like Computers
Ginkgo Bioworks, a synthetic biology specialist that has become worth billions, has raised another $290 million to expand the breadth of a technology that tinkers with a cell’s genetic code and reprograms it—like programming a computer. Boston-based Ginkgo uses a combination of software and robotic systems to design organisms. It started out making microbes engineered … Continue reading “High-Flying Ginkgo Nets Another $290M to Program Cells Like Computers”
Aliro Technologies Lands $2.7M to Help Developers Go Quantum
It’s still a ways off before visions of all-powerful encryption-breaking quantum computers come to pass. But the new quantum technologies here today are already beginning to make a dent in the world of high-performance computing. Imperfect as these computers may be—now classified as noisy intermediate-scale quantum—they are becoming more attractive for enterprises that seem always … Continue reading “Aliro Technologies Lands $2.7M to Help Developers Go Quantum”
Lundbeck Paying Nearly $2B for Alder to Follow Migraine Rivals to Market
Denmark’s neuroscience-focused pharma firm Lundbeck has agreed to pay $1.95 billion to acquire Seattle-based Alder BioPharmaceuticals to boost its late-stage pipeline and biologics capabilities. Barely a year at the helm, Lundbeck CEO Deborah Dunsire (pictured) is making her second major acquisition as she continues to look for new growth drivers to offset generics erosion of … Continue reading “Lundbeck Paying Nearly $2B for Alder to Follow Migraine Rivals to Market”
Why Menlo Ventures Backed Construction Tech Firm Fieldwire
[Corrected 9/17/2019, 8:58 a.m, and 9/18/19, 4:53 p.m. See below.] Fieldwire, whose mobile app helps builders and construction crews coordinate their work, announced today it has lined up a total of $33.5 million across two newly disclosed fundraising rounds. The San Francisco-based construction tech company says it raised $8.5 million in a Series B funding … Continue reading “Why Menlo Ventures Backed Construction Tech Firm Fieldwire”
BACEless: Eisai, Biogen Pull Plug on Alzheimer’s Drug in Final Stage
Add another once-promising Alzheimer’s disease drug to the scrap heap. Eisai and Biogen (NASDAQ: [[ticker:BIIB]]) are halting a Phase 3 test after an independent safety review concluded the risks of experimental Alzheimer’s drug elenbecestat outweigh the benefits. The companies did not explain what the independent board found. Some drugs that work the same way have … Continue reading “BACEless: Eisai, Biogen Pull Plug on Alzheimer’s Drug in Final Stage”
Cloudflare’s $525M IPO Emboldens Already-Confident Internet Booster
[Updated 9/13/19, 11:40 am ET. See below.] Cloudflare has had its share of controversy, and is in a market with a wide range of more established competitors, from Amazon Web Services and Google Cloud to Cisco Systems and Palo Alto Networks. But the business software company still felt confident enough that Wall Street would welcome … Continue reading “Cloudflare’s $525M IPO Emboldens Already-Confident Internet Booster”
Boston Tech Watch: Neural Galaxy, Link Ventures, & More Epstein Fallout
The funding deals ramped up this week in Boston, and the drip, drip, drip of details about the MIT Media Lab and Jeffrey Epstein continued to form an unwelcome puddle for university administrators. Read on for all the details. —Joi Ito, the director of MIT Media Lab embattled by his fundraising connections with convicted sex … Continue reading “Boston Tech Watch: Neural Galaxy, Link Ventures, & More Epstein Fallout”
Booming CS Demand Brings Ex-Acquia CEO Back to His UW Roots
Tom Erickson was ready to retire to Australia. But then the Wisconsin native and veteran technology executive got an offer from his alma mater that he decided he couldn’t pass up. This month, the University of Wisconsin-Madison named Erickson founding director of its School of Computer, Data & Information Sciences (CDIS). The school, part of … Continue reading “Booming CS Demand Brings Ex-Acquia CEO Back to His UW Roots”
The Winners of the 2019 Xconomy Awards Boston Are…
Even after three years, it doesn’t get any easier to choose the winners of the Xconomy Awards in Boston. There were multiple deserving winners in each category this year. But after much discussion and debate among our judges and the editors, we decided that these winners represent the best of the Boston life sciences community. … Continue reading “The Winners of the 2019 Xconomy Awards Boston Are…”
John Halamka, Livongo Health & AI Progress at X·CON on Oct. 22
The consumerization of healthcare is accelerating. Within five years, a “significant percentage” of healthcare services will be run through mobile apps and other digital tools, predicts John Halamka, a Boston-based doctor and prominent digital health expert. Halamka shared his prognostication in a recent conversation, but we’ll dive more deeply into his vision for healthcare’s tech-enabled … Continue reading “John Halamka, Livongo Health & AI Progress at X·CON on Oct. 22”
FDA Doesn’t Shell Peanut Allergy Drug Pre-Hearing, Aimmune Shares Climb
Peanut allergy sufferers know they need to stay away from certain foods that can put them in danger. But what about accidental exposure? Even trace amounts of peanut protein in their food or someone else’s can trigger an allergic reaction that sends them to the hospital. That’s what makes Palforzia, an experimental peanut allergy treatment … Continue reading “FDA Doesn’t Shell Peanut Allergy Drug Pre-Hearing, Aimmune Shares Climb”
After Investing, GSK to Buy Out Celiac Drug Developer Sitari Pharma
GlaxoSmithKline is acquiring a startup it helped launch in 2013 as part of an alliance with life sciences venture capital firm Avalon Ventures. Avalon said Tuesday that GSK (NYSE: [[ticker:GSK]]) has agreed to buy the company, Sitari Pharmaceuticals, which has been developing a treatment for celiac disease. Sitari was the first of eight companies spun … Continue reading “After Investing, GSK to Buy Out Celiac Drug Developer Sitari Pharma”
Phil Sharp, CRISPR’ing the Heart & the Duchenne Data Gap on Oct. 17
Phil Sharp is one of the godfathers of biotech. He’s an MIT biologist, Nobel laureate and, as a Biogen (NASDAQ: [[ticker:BIIB]]) co-founder, one of the people responsible for turning Kendall Square into the biopharma epicenter it is today. Next month, he will share his story, the lessons he’s learned along the way, what he’s up … Continue reading “Phil Sharp, CRISPR’ing the Heart & the Duchenne Data Gap on Oct. 17”
After First Look at House Drug Plan, Stocks Rise Slightly
The first details of the long-awaited House Democrat plan to lower drug prices leaked out Monday night, with elements that have long been anathema to the biopharma industry and its supporters in Washington. While the world digested the details Tuesday, however, biopharma investors didn’t seem fazed. Some individual companies saw shares dip, but the biopharma … Continue reading “After First Look at House Drug Plan, Stocks Rise Slightly”
Herceptin Inventors, Immunology Pioneers Take Home 2019 Lasker Awards
This year’s Lasker Awards, the US’s most prestigious biomedical honor, are going to five scientists whose work led to a critical breast cancer treatment and significant basic research advances that have helped pave the way for immunotherapy. H. Michael Shepard, Dennis Slamon, and Axel Ullrich won the Lasker-DeBakey Clinical Medical Research Award for inventing trastuzumab … Continue reading “Herceptin Inventors, Immunology Pioneers Take Home 2019 Lasker Awards”
Shopify Buys 6 River Systems for $450M to Boost Fulfillment Centers
Ecommerce software company Shopify will purchase warehouse robotics startup 6 River Systems in a $450 million deal aimed at improving logistics in its new system of fulfillment centers. Based in Waltham, MA, 6 River Systems makes robotic carts for order fulfillment centers that learn the warehouse layout and product locations in order to help workers more efficiently … Continue reading “Shopify Buys 6 River Systems for $450M to Boost Fulfillment Centers”
Challenging CRISPR, Trucode Raises $34M for New Gene-Editing System
Gene-editing technology offers the potential to treat inherited disorders with selective edits and corrections to an afflicted individual’s genetic code. But with such molecular tinkering comes with the risk of unintended changes to the genome. Biotech startup Trucode Gene Repair is developing technology that it claims can edit genes in a way that reduces the … Continue reading “Challenging CRISPR, Trucode Raises $34M for New Gene-Editing System”
Your Car Is Hackable—Here Are Three Steps You Can Take
We’re used to protecting the information on our smartphones by keeping strong passwords and setting a lock screen. But fewer people know about the importance of protecting the information in their vehicles. Earlier this year, the automotive shopping website CarGurus asked 1,020 consumers questions about common security practices and the risks of connected cars. Here … Continue reading “Your Car Is Hackable—Here Are Three Steps You Can Take”
Amazon, With More WA Workers than Microsoft, Eyes Adding 10K More
Jeff Bezos and company are looking for a few good men and women—well, perhaps more than a few, especially in and around Amazon’s home turf. Buoyed by years of staggering growth but also facing a tight labor market, Amazon (NASDAQ: [[ticker:AMZN]]) will work to fill 30,000 jobs across the US by 2020, the tech giant … Continue reading “Amazon, With More WA Workers than Microsoft, Eyes Adding 10K More”
Epstein Fallout: Joi Ito Resigns From MIT Media Lab, Multiple Boards
The ripple effects from a report Friday in The New Yorker about ties between the MIT Media Lab and disgraced financier and convicted sex offender Jeffrey Epstein continue to spread. After Joi Ito resigned as the Media Lab’s director on Saturday, he also relinquished high-profile board seats with The New York Times Company, the Knight … Continue reading “Epstein Fallout: Joi Ito Resigns From MIT Media Lab, Multiple Boards”
Genfit Names Carol Addy to Chief Medical Officer Role
Carol Addy has been appointed chief medical officer of France-based Genfit (NASDAQ: [[ticker:GNFT]]). She will be based at the company’s Cambridge, MA, office. Addy, an endocrinologist, was most recently the chief medical officer of Merck (NYSE: [[ticker:MRK]]) subsidiary Health Management Resources. Genfit’s lead drug candidate, elafibranor, is currently in late-stage testing as a treatment for … Continue reading “Genfit Names Carol Addy to Chief Medical Officer Role”
As New CEO of Cerevel, Coles Moves From One Neuro Startup to Another
Tony Coles, the biotech veteran who once steered Onyx Pharmaceuticals into a $10 billion buyout, has left one neurology startup to join another. Coles on Monday was named the CEO of Cerevel Therapeutics, a Boston company that Pfizer (NYSE: [[ticker:PFE]]) and Bain Capital launched in October 2018 with $350 million in funding. The appointment marks the … Continue reading “As New CEO of Cerevel, Coles Moves From One Neuro Startup to Another”
At Big Lung Cancer Meeting, Lights Shine on KRAS, Drug Combos & More
The treatment landscape for lung cancer has shifted significantly over the past few years, and more changes could be on the way. At the World Conference on Lung Cancer in Barcelona this weekend a number of drug makers trotted out some of their latest advances in immunotherapy, targeted pills, drug combinations, and more. Xconomy rounded … Continue reading “At Big Lung Cancer Meeting, Lights Shine on KRAS, Drug Combos & More”
Frequency Plans IPO for Hearing Loss Drug & More Regenerative Meds
Hearing loss affects millions of Americans but to date, there are no FDA-approved medicines to treat them. Frequency Therapeutics is developing a hearing loss drug that taps into the body’s regenerative capabilities. As the company prepares to advance the experimental treatment to mid-stage studies, it is planning an IPO to finance the research. Frequency set … Continue reading “Frequency Plans IPO for Hearing Loss Drug & More Regenerative Meds”
Bio Roundup: MedCo’s Pricing Plan, Vertex’s Gamble, uBiome Undone
Being first to market with a new type of drug brings advantages. The first mover sets the bar for what physicians, payers, and patients can expect of that medicine and how much it costs. It grabs market share that followers have to steal away. But the first mover isn’t infallible if someone else has something … Continue reading “Bio Roundup: MedCo’s Pricing Plan, Vertex’s Gamble, uBiome Undone”
Boston Tech Watch: MIT Epstein, Notarize Cash, New Carbonite Execs
For a week shortened by the Labor Day holiday heralding the coming end of summer, the past few days yielded their fair share of Boston-area technology business news. Read on for a roundup of the news. —MIT Media Lab co-founder Nicholas Negroponte reportedly argued it was right to take money from disgraced financier and convicted … Continue reading “Boston Tech Watch: MIT Epstein, Notarize Cash, New Carbonite Execs”
Novartis & IFM Team Up Again, With Buyout Option for Autoimmune R&D
IFM Therapeutics has lined up another pact with a big pharma company, and it’s the second one in less than a year with Novartis. Boston-based IFM Therapeutics announced Thursday that Novartis (NYSE: [[ticker:NVS]]) has agreed to pay the research and development costs of IFM Due, a subsidiary developing immunotherapies for inflammatory and autoimmune diseases. Novartis … Continue reading “Novartis & IFM Team Up Again, With Buyout Option for Autoimmune R&D”
Cogito Raises $20M to Expand Call Center Emotional Intelligence
Cogito CEO Joshua Feast isn’t convinced that artificial intelligence will topple the staffing model for call centers. Customer service is not destined—at least anytime soon, he believes—to be handed off completely to voice assistant chatbots that can handle all the problems and frustrations a customer can send through a phone line. “I believe humans will … Continue reading “Cogito Raises $20M to Expand Call Center Emotional Intelligence”
SF’s Ginger Raises $35M in Burgeoning Digital Therapeutics Market
Ginger, a San Francisco-based digital health startup developing software to help patients manage mental and behavioral health conditions, announced Wednesday it has raised $35 million from investors to offer its service to more people who experience stress, depression, and other conditions. People can use Ginger’s mobile app to participate in virtual therapy sessions with behavioral … Continue reading “SF’s Ginger Raises $35M in Burgeoning Digital Therapeutics Market”
Synlogic’s C-Suite Adds Richard Riese, CFO Todd Shegog to Depart
Synlogic (NASDAQ: [[ticker:SYBX]]) has appointed Richard Riese to serve as chief medical officer. Riese was most recently vice president of clinical development at Alnylam Pharmaceuticals (NASDAQ: [[ticker:ALNY]]). In other moves, Synlogic announced that Todd Shegog, the company’s chief financial officer, will leave on Sept. 18 to pursue another opportunity. In a securities filing, Synlogic said … Continue reading “Synlogic’s C-Suite Adds Richard Riese, CFO Todd Shegog to Depart”
Former Nightstar Exec Gregory Robinson Joins Akouos as Chief Scientific Officer
Gregory Robinson has joined Akouos as chief scientific officer, the same position he held at gene therapy developer Nightstar Therapeutics. Nightstar was acquired by Biogen (NASDAQ: [[ticker:BIIB]]) earlier this year. Robinson’s experience also includes positions at Agilis Biotherapeutics, Shire, and Eyetech Pharmaceuticals. In other moves, Akouos co-founder Michael McKenna expanded his role to full-time chief … Continue reading “Former Nightstar Exec Gregory Robinson Joins Akouos as Chief Scientific Officer”
Vir Bio Plans IPO to Fund Clinical Trials of Infectious Disease Drugs
Vir Biotechnology assembled its pipeline of infectious disease compounds through deal-making with other drug developers, along with financial support from blue-chip venture capital firms and the non-profit Bill & Melinda Gates Foundation. Now the biotech is turning to the public markets for the cash to continue clinical tests of its most advanced drug candidates. San … Continue reading “Vir Bio Plans IPO to Fund Clinical Trials of Infectious Disease Drugs”
Accent Therapeutics Taps Tango’s Shakti Narayan for CEO
Shakti Narayan has joined Accent Therapeutics as CEO and member of the company’s board of directors. Narayan comes to Lexington, MA-based Accent from Tango Therapeutics, where he was chief business officer for the past two years. His experience also includes positions at Johnson & Johnson Innovation and Nodality. Accent raised $40 million in Series A … Continue reading “Accent Therapeutics Taps Tango’s Shakti Narayan for CEO”
Vertex Bets $950M on Semma and a Stem Cell Therapy for Diabetes
Vertex Pharmaceuticals is paying $950 million to acquire Semma Therapeutics, a biotech startup developing a stem cell therapy for type 1 diabetes. The deal announced Tuesday is Vertex’s first step into the diabetes field and is the latest in a string of moves the Boston company has made to diversify beyond its core franchise of … Continue reading “Vertex Bets $950M on Semma and a Stem Cell Therapy for Diabetes”
With FDA’s Eye on JAK Drugs, Concert Moves One Ahead For Hair Loss
Despite the safety concerns that have recently emerged for class of drugs known as JAK inhibitors, their reach continues to grow. The latest example comes from Concert Pharmaceuticals, which is racing the drug giant Pfizer to develop a medicine for a common skin disease that causes hair loss. Concert (NASDAQ: [[ticker:CNCE]]) is disclosing this morning … Continue reading “With FDA’s Eye on JAK Drugs, Concert Moves One Ahead For Hair Loss”
As Cholesterol Drug Aces Big Test, MedCo CEO Open to Flexible Pricing
The Medicines Co. (NASDAQ: [[ticker:MDCO]]) announced last week that its cholesterol-lowering medicine inclisiran, meant to be taken just twice a year, had passed a key test but offered no details. Some of those details arrived this morning. At a medical meeting in Paris, a presentation from the test, a 1,617-patient Phase 3 study called ORION-11, … Continue reading “As Cholesterol Drug Aces Big Test, MedCo CEO Open to Flexible Pricing”
Patent Challenge to Alexion Proceeds, But No Amgen Biosimilar Yet
Three patents that extend the exclusivity of Alexion Pharmaceuticals’ franchise rare disease drug will now face a patent challenge from Amgen. On Friday, a court within the US Patent and Trademark Office agreed to a review of Amgen’s claims that three Alexion (NASDAQ: [[ticker:ALXN]]) patents covering its drug, eculizumab (Soliris), were anticipated or obvious, and … Continue reading “Patent Challenge to Alexion Proceeds, But No Amgen Biosimilar Yet”
Robocalls Crowd Out Real Business Calls. This Startup Has an Answer.
The ways in which robocallers try to dupe us are becoming almost as plentiful as the frequency of the calls. An unknown phone number was once all scammers needed to trick the average person into picking up the call. Now, new hoaxes are making it increasingly difficult to avoid fraud, such as the “one ring” … Continue reading “Robocalls Crowd Out Real Business Calls. This Startup Has an Answer.”
Bio Roundup: Cholesterol Check, J&J’s Opioid Hit, AbbVie’s Flop & More
You might be camping, barbecuing, or sleeping on Monday. It’s Labor Day, after all. But in Paris, this cardiologist will be in a conference center, walking an audience through a slide deck packed with Phase 3 data for a new cholesterol-lowering drug, inclisiran. Inclisiran’s owner, the Medicines Co., jumped the presentation by a week, promising … Continue reading “Bio Roundup: Cholesterol Check, J&J’s Opioid Hit, AbbVie’s Flop & More”
Boston Tech Watch: DraftKings Drives, The Engine Revs, NuTonomy Swaps
[Updated 12:35 pm, 8/30/19. Clarified new DraftKings venture.] Welcome to August’s automotive-themed tech news round-up. This week’s batch of news features a dose of updates that range from self-driving cars to funds or new ventures that sound close enough to being automotive-related (but aren’t) that I just couldn’t pass up making a point about it. … Continue reading “Boston Tech Watch: DraftKings Drives, The Engine Revs, NuTonomy Swaps”
Scholar Rock CFO Rhonda Chicko to Leave in September
Scholar Rock (NASDAQ: [[ticker:SRRK]]) announced that Rhonda Chicko, the company’s chief financial officer, is leaving to “pursue other opportunities.” The Cambridge, MA-based drug developer gave no other details about Chicko’s plans other than to say that she will stay on the job through Sept. 30 to help with the transition of her responsibilities. A search … Continue reading “Scholar Rock CFO Rhonda Chicko to Leave in September”
Celgene Adds Cell Therapies From Immatics With Bristol Sale in Sight
Even as its sale to Bristol-Myers Squibb (NYSE: [[ticker:BMY]]) inches closer to completion, Celgene—long known for its web of biotech partnerships—has inked another alliance. Celgene (NASDAQ: [[ticker:CELG]]) will co-develop three cell therapies for cancer with Immatics, a German biotech with ties to MD Anderson Center Center in Houston. Celgene will pay Immatics $75 million in … Continue reading “Celgene Adds Cell Therapies From Immatics With Bristol Sale in Sight”
ThoughtSpot Nabs $248M for Accessible Analytics, Nears $2B Valuation
ThoughtSpot, a software company formed to make data analytics accessible for business staffers without data science expertise, announced today it raised $248 million in a Series E funding round that set its valuation at $1.95 billion. Sunnyvale, CA-based ThoughtSpot, founded in 2012, made it a core mission to enable its customers’ non-technical workers to mine … Continue reading “ThoughtSpot Nabs $248M for Accessible Analytics, Nears $2B Valuation”
Ionis Gets $25M From GSK for Experimental Hepatitis B Program
Infections caused by the hepatitis B virus, which attacks the liver, are typically treated with drugs that keep the virus from making ever more copies of itself. However, because those treatments reduce but don’t eliminate the virus, patients have to take the drugs indefinitely, according to the World Health Organization. Ionis Pharmaceuticals (NASDAQ: [[ticker:IONS]]) has … Continue reading “Ionis Gets $25M From GSK for Experimental Hepatitis B Program”
NuTonomy Switches to Chrysler For More Elbow Room in Self-Driving Cars
There’s a time in a self-driving car company’s life where a minivan is just more sensible than a sleek, European city car. NuTonomy, the autonomous vehicle startup spun out of MIT that’s putting its systems through their paces on the streets of South Boston, says it has “decommissioned” its fleet of five-door, “supermini” electric cars … Continue reading “NuTonomy Switches to Chrysler For More Elbow Room in Self-Driving Cars”
Sesen Bio’s Richard Fitzgerald to Depart, Monica Forbes Is Named CFO
Richard Fitzgerald, chief financial officer of Sesen Bio (NASDAQ: [[ticker:SESN]]) for the past 19 months, will leave the company on Aug. 30, the company announced Monday. Cambridge, MA-based Sesen gave no reason for Fitzgerald’s departure. Monica Forbes, the company’s vice president of finance, was promoted to CFO effective immediately. Sesen, formerly known as Eleven Biotherapeutics, … Continue reading “Sesen Bio’s Richard Fitzgerald to Depart, Monica Forbes Is Named CFO”
Current Trends in Translational Oncology
From the event organizer: Join Boston’s leading oncology innovators at the Boston Museum of Science for Champions Oncology’s 1st Annual Boston Symposium: Current Trends in Translational Oncology. Learn from experts about their current therapeutic approach to today’s oncology challenges. Gain insight on how to further support your oncology and immuno-oncology drug development programs, from preclinical and … Continue reading “Current Trends in Translational Oncology”
New PCSK9 Cholesterol Drug Faces Tough Foe. (Hint: Not Cholesterol.)
[Updated 8/26/19, 10:30am. See below.] Remember when the new wave of expensive cholesterol-lowering drugs—known as PCSK9 inhibitors—was supposed to give the healthcare system a financial heart attack? Far from it. Four years after approval the two PCSK9 blockers on the market have yet to crack $1 billion in annual sales, combined, thanks to a gloves-off … Continue reading “New PCSK9 Cholesterol Drug Faces Tough Foe. (Hint: Not Cholesterol.)”
VMware: “We Bought Carbon Black for $2.1B!” Analysts: “Oh… Why?”
The deal VMware unveiled this week to buy cybersecurity firm Carbon Black triggered a heaping share of skepticism. “I’m having a hard time with the Carbon Black acquisition,” said Jeffries analyst John Stephen DiFucci on a conference call with VMware executives. “I get that Carbon Black is part of that next-gen player. … But I … Continue reading “VMware: “We Bought Carbon Black for $2.1B!” Analysts: “Oh… Why?””