Carmera, the maker of dynamic, real-time, high-definition maps for use in mobility applications, announced today that it has entered into a commercial partnership with Toyota Research Institute-Advanced Development, the carmaker’s division focused on the development of autonomous vehicle technologies. The monetary value of the partnership was not disclosed. The two companies will collaborate on a … Continue reading “Carmera, Toyota Research Institute Zoom Ahead on AV Mapping Project”
Category: Boston
With $191M Haul, Maze Therapeutics Takes Aim at Genetic Diseases
People who share the same disease-causing genetic mutation can have a wide range of severity in their disease. Some don’t get sick at all. Environment can play a role, but with ever-more genetic data available, scientists are unraveling how much other genes can counteract the effect of the main disease-causing gene, too. Two high-profile biotech … Continue reading “With $191M Haul, Maze Therapeutics Takes Aim at Genetic Diseases”
Kaleido Bio Downsizes IPO, Raises $75M for Microbiome Drug Tests
Microbiome drugs developer Kaleido Biosciences is joining the ranks of publicly traded biotechs, but it had to sell more shares and cut their price. The Lexington, MA, company priced its downsized initial public offering of 5 million shares at $15 each, well below the $20 to $22 range it had initially planned. Those shares are … Continue reading “Kaleido Bio Downsizes IPO, Raises $75M for Microbiome Drug Tests”
Sarepta Touts More Gene Therapy Data, Snaps Up Myonexus For $165M
Sarepta Therapeutics (NASDAQ: [[ticker:SRPT]]) has been steadily building up its gene therapy capabilities for a few years now, and it took two more steps forward on that front this morning. First, it exercised an option to buy gene therapy startup Myonexus Therapeutics for $165 million. And then it disclosed early human results from the first … Continue reading “Sarepta Touts More Gene Therapy Data, Snaps Up Myonexus For $165M”
Walmart’s Store No 8 Acquires Aspectiva to Bring A.I. to Shopping
Walmart’s Store No 8 innovation arm has acquired an Israeli machine learning startup, the retail giant announced Wednesday. Aspectiva joined the two-year-old Store No 8 Monday, and its employees will remain in Tel Aviv. “Store No 8’s record of innovation and of developing capabilities that will transform retail as we know it makes for the … Continue reading “Walmart’s Store No 8 Acquires Aspectiva to Bring A.I. to Shopping”
Early-Stage VC Firm Sorenson Ventures Closes Inaugural Fund at $110M
Sorenson Ventures, an offshoot of Utah private equity firm Sorenson Capital, announced today it has closed its first fund with more than $110 million to invest in early-stage security and enterprise software companies. The young venture capital firm was formed in 2017 by Sorenson Capital, which recruited former Intel Capital executive Ken Elefant as managing … Continue reading “Early-Stage VC Firm Sorenson Ventures Closes Inaugural Fund at $110M”
Blue-Collar Career Site Jobcase Raises $100M to Advocate for Workers
The social-media jobs platform Jobcase is raking in $100 million in growth funding to expand its blue-collar-oriented workforce site into a place where employees not only can host their qualifications but also can organize and advocate for better treatment from employers. Jobcase founder and CEO Fred Goff says the Cambridge, MA-based startup wants workers’ reviews … Continue reading “Blue-Collar Career Site Jobcase Raises $100M to Advocate for Workers”
Amazon, Google, Facebook Boosted 2018 Tech Hiring Spree in U.S. Hubs
A tech hiring slowdown in 2018 in America’s three largest innovation hubs would not have surprised John Barrett, given global economic uncertainty stemming from factors such as trade disputes, slower economic growth in China and Europe, and the UK’s looming exit from the EU. Instead, the pace of tech hiring in the San Francisco Bay … Continue reading “Amazon, Google, Facebook Boosted 2018 Tech Hiring Spree in U.S. Hubs”
Blackstone, Novartis Start Up Anthos With $250M and a Heart Drug
Blackstone Life Sciences, the biopharma investing arm of private equity firm Blackstone Group, has made its first strike. It has joined with Novartis (NYSE: [[ticker:NVS]]) to start a new biotech, Anthos Therapeutics, backed with $250 million in cash and rights to an experimental drug originally discovered by the Swiss firm. The Cambridge, MA, startup, Anthos … Continue reading “Blackstone, Novartis Start Up Anthos With $250M and a Heart Drug”
Pharma CEOs to Senate: We Will Lower Drug Prices if Rebates Go Away
Seven top pharmaceutical executives gathered today in Washington, DC, for a Senate hearing on drug prices, bringing face-to-face two groups held in the lowest esteem possible by the American public. Top executives from seven companies—AbbVie, AstraZeneca, Bristol-Myers Squibb, Merck, Johnson & Johnson, Pfizer, and Sanofi, which represent a combined $1.1 trillion in market value—stuck to … Continue reading “Pharma CEOs to Senate: We Will Lower Drug Prices if Rebates Go Away”
No Details, But AstraZeneca Touts PARP Drug Win in Pancreatic Cancer
It’s no secret that so-called PARP inhibitors, a new class of cancer drugs, have struggled to gain traction commercially, even as they’ve shown promise treating multiple tumor types. But today brings news that could bolster the future prospect of PARP blockers: one of them, a drug known as olaparib (Lynparza) from AstraZeneca and partner Merck, … Continue reading “No Details, But AstraZeneca Touts PARP Drug Win in Pancreatic Cancer”
Seeded with $2.5M, Sales Tech Firm Polis Is Coming for Your Front Door
There’s at least one thread tying together clean energy providers, former U.S. Rep. Beto O’Rourke, and home security systems, and it runs through a small Cambridge, MA, startup founded in 2015 by Kendall Tucker. Her sales and political canvassing technology company Polis has helped sell all three of them by sending people to residents’ front … Continue reading “Seeded with $2.5M, Sales Tech Firm Polis Is Coming for Your Front Door”
Oyster Point Gets $93M To Clear Up Dry Eye With a Nasal Spray
Dry eye disease affects millions of people in the U.S., and while several treatments, mostly eye drops, are available, they all have flaws. An emerging startup called Oyster Point Pharmaceuticals is trying a completely different approach—a nasal spray that coaxes the body into making tears. And the company just got enough cash to get that … Continue reading “Oyster Point Gets $93M To Clear Up Dry Eye With a Nasal Spray”
Ginkgo’s Motif Launches with $90M for Animal-Free Meat & Milk Proteins
[Updated 6:16 p.m. See below.] Plant-based foods and beverages are getting more grocery store shelf space as consumers increasingly shop for meat and milk alternatives. But these products typically carry premium prices because making proteins in a lab is still far more expensive than conventional agriculture. Motif Ingredients says it can use biotechnology and fermentation … Continue reading “Ginkgo’s Motif Launches with $90M for Animal-Free Meat & Milk Proteins”
More Power Per Pound: 24M Lithium Ion Batteries Ahead of Curve
Cambridge lithium-ion battery startup 24M claims to have punched through a “state-of-the art industry benchmark” for electric vehicle power storage by packing more kilowatts into each kilogram of battery using its unique design and advanced manufacturing techniques. The startup says it delivered batteries to industrial partners and the United States Advanced Battery Consortium—an Energy Department … Continue reading “More Power Per Pound: 24M Lithium Ion Batteries Ahead of Curve”
Novartis to Pay $150M to Ionis, Akcea for Drug to Slow Heart Disease
Novartis has agreed to pay $150 million to Ionis Pharmaceuticals and Boston-based Akcea Therapeutics for the rights to a clinical-stage drug meant to treat patients with abnormally high levels of a protein that is considered a risk factor for cardiovascular disease. The experimental drug, known as AKCEA-APO(a)-LRx by Akcea and TQJ230 by the Swiss pharma … Continue reading “Novartis to Pay $150M to Ionis, Akcea for Drug to Slow Heart Disease”
Mobile-Tech Company Affirmed Networks Raises $38M To Chase 5G Future
Affirmed Networks, a mobile systems software company based in Acton, MA, has raised $38 million in a strategic funding round led by Palo Alto-based Centerview Capital Technology to help it expand into more regions around the globe and invest in new products. The company, founded in 2010, says it develops virtualized and cloud-native network software … Continue reading “Mobile-Tech Company Affirmed Networks Raises $38M To Chase 5G Future”
Bill Maris’s VC Firm Section 32 Raises $200M for Second Fund
Section 32, the venture capital fund based in San Diego’s Cardiff-by-the-Sea community, has raised nearly $200 million for its second fund. A document filed with securities regulators Friday shed light on comments made the previous week to Xconomy by Section 32 founder Bill Maris, who started the firm in 2017. Maris on Feb. 15 confirmed … Continue reading “Bill Maris’s VC Firm Section 32 Raises $200M for Second Fund”
Roche Bets $4.8B on Spark Therapeutics and the Future of Gene Therapy
Roche has agreed to buy Spark Therapeutics for $4.8 billion, the latest strong signal that major pharmaceutical companies are ready to gamble on the promise of gene therapy despite its uncertain commercial prospects. The Swiss pharma giant will pay $114.50 per share, in cash, for Spark (NASDAQ: [[ticker:ONCE]]), a 122 percent premium to the gene … Continue reading “Roche Bets $4.8B on Spark Therapeutics and the Future of Gene Therapy”
FDA Staff Hammers Karyopharm Cancer Drug on Safety, Efficacy Concerns
A Karyopharm Therapeutics multiple myeloma drug candidate faces longer odds for speedy FDA approval after the agency’s staff raised questions about the therapy’s efficacy and safety. Staff concerns about Karyopharm drug selinexor were detailed in briefing documents posted Friday afternoon, ahead of an advisory committee meeting scheduled for Tuesday. Such panels are convened to assess … Continue reading “FDA Staff Hammers Karyopharm Cancer Drug on Safety, Efficacy Concerns”
Alexion’s Rachelle Jacques Jumps to Enzyvant for CEO Role
Enzyvant has named Rachelle Jacques its new CEO. She comes to the Cambridge, MA, rare disease drug developer from Alexion Pharmaceuticals (NASDAQ: [[ticker:ALXN]]), where she was senior vice president and global franchise head of complement. Her experience also includes senior roles at Shire and Baxalta. Jacques succeeds Alvin Shih, who will continue to advise Enzyvant. … Continue reading “Alexion’s Rachelle Jacques Jumps to Enzyvant for CEO Role”
Exact Sciences Eyes Cologuard Market Expansion After “Landmark Year”
[Updated 2/22/19, 2:42 pm CT. See below.] Exact Sciences screened 934,000 patients for colorectal cancer in 2018 using its stool-based diagnostic test, Cologuard, resulting in a 71 percent surge in annual revenue to $454.5 million, the company announced Thursday. Exact (NASDAQ: [[ticker:EXAS]]), which relocated from the Boston area to Madison, WI, in 2009, is one … Continue reading “Exact Sciences Eyes Cologuard Market Expansion After “Landmark Year””
Voyager Therapeutics, AbbVie Add Parkinson’s to Gene Therapy Pact
Voyager Therapeutics and AbbVie, already partners developing gene therapies for Alzheimer’s disease, are now expanding their alliance to include Parkinson’s. AbbVie (NYSE: [[ticker:ABBV]]) is paying Cambridge, MA-based Voyager (NASDAQ: [[ticker:VYGR]]) $65 million up front under the new deal. Gene therapies use viruses to carry the genetic instructions into cells. The agreement calls for Voyager to … Continue reading “Voyager Therapeutics, AbbVie Add Parkinson’s to Gene Therapy Pact”
Bio Roundup: NASH News, Merck Strikes, Digital Tokens & More
The growing epidemic of the fatty liver disease known as NASH, which has no FDA-approved treatment, has led to a frenzied race among drug companies. This week, one company, Intercept Pharmaceuticals, solidified its lead. But how much will being first to the finish line mean when all is said and done? Intercept (NASDAQ: [[ticker:ICPT]]) reported … Continue reading “Bio Roundup: NASH News, Merck Strikes, Digital Tokens & More”
Boston Tech Watch: Thermo Fisher in China, 1upHealth, Anaqua & More
[Updated 2/25/19, 10:55 am. See updated item.] Plenty of Boston technology news this week, from acquisitions to fundings, machine-learning-powered awards predictions and more: —The New York Times says police-affiliated scientists in China were using equipment from Waltham, MA-based Thermo Fisher Scientific (NYSE: [[ticker:TMO]]) to collect DNA data and build “an enormous system of surveillance and … Continue reading “Boston Tech Watch: Thermo Fisher in China, 1upHealth, Anaqua & More”
Cerevel Therapeutics Taps Otsuka’s Sanchez for Chief Medical Officer
Raymond Sanchez has been appointed chief medical officer of Cerevel Therapeutics. Sanchez comes to Boston-based Cerevel from Otsuka Pharmaceutical Development and Commercialization, where he most recently served as senior vice president, global clinical development. During the last half of his 11-year tenure at Otsuka, he was also chief medical officer of Otsuka subsidiary Avanir Pharmaceuticals. … Continue reading “Cerevel Therapeutics Taps Otsuka’s Sanchez for Chief Medical Officer”
Qlik to Acquire Data Integration Software Firm Attunity for $560M
Qlik Technologies, a Pennsylvania-based data analytics company, is acquiring Burlington, MA-based Attunity (NASDAQ: [[ticker:ATTU]]) in a $560 million deal to boost its offerings to help businesses manage and analyze data across on-site data centers and cloud storage services. Attunity’s data integration and management software optimizes data across different storage sites to be accessible for the … Continue reading “Qlik to Acquire Data Integration Software Firm Attunity for $560M”
Self-Driving Cars in Boston Blinded by Solar Glare at Traffic Lights
Solar glare is making it tough for some self-driving cars being tested in Boston to read whether traffic lights are red, yellow, or green. MIT spinout NuTonomy said that on some recent occasions, the “low evening sun and solar glare” have occasionally kept its autonomous vehicles from being able to read the color on traffic … Continue reading “Self-Driving Cars in Boston Blinded by Solar Glare at Traffic Lights”
Cloud Tech Firm Nasuni Takes in $25M in Telstra-Led Funding Round
It wasn’t the monthly bank statement that made Nasuni, a Boston-based cloud storage technology startup, run out and raise $25 million in venture funding. The company had yet to burn through even half of the $38 million it raised in September 2017 in a venture round led by Goldman Sachs. So, why did Nasuni recently … Continue reading “Cloud Tech Firm Nasuni Takes in $25M in Telstra-Led Funding Round”
Digital Guardian Taps CA Technologies Cyber Exec as Its New CEO
Digital Guardian, a cybersecurity business focused on data loss prevention, has tapped a CA Technologies executive to lead the Waltham, MA-based company several months after the departure of CEO Ken Levine. Mordecai “Mo” Rosen, who most recently managed CA Technologies’ cybersecurity business, is taking over at Digital Guardian from interim CEO, investor, and board member … Continue reading “Digital Guardian Taps CA Technologies Cyber Exec as Its New CEO”
Rapid7, Raytheon, Recorded Future Join Cyber Madness in Boston on April 8
It takes a healthy imagination to pinpoint all the cybersecurity risks baked into today’s Internet-connected, cloud-managed, Web-hungry world—let alone even start to plan for the vulnerabilities, attack strategies, and potent defenses for the future. On April 8, Xconomy is bringing together experts from Boston and beyond to dig into how companies have solved specific problems … Continue reading “Rapid7, Raytheon, Recorded Future Join Cyber Madness in Boston on April 8”
With New Data, Intercept On Track for First-Ever Approved NASH Drug
The first-ever marketed medicine for the fatty liver disease known as nonalcoholic steatohepatitis, or NASH, could be on the horizon. The data, from a closely watched drug known as obeticholic acid, aren’t perfect. But they are nonetheless expected by the drug’s developer, Intercept Pharmaceuticals, to be good enough to support approval. Intercept (NASDAQ: [[ticker:ICPT]]) this … Continue reading “With New Data, Intercept On Track for First-Ever Approved NASH Drug”
Stealth Bio’s IPO Raises $78M for Clinical Tests of Mitochondrial Drugs
Stealth BioTherapeutics has popped up on the radar with a $78 million IPO to fund clinical trials for drugs treating rare mitochondrial disorders. Shares of Stealth Bio (NASDAQ: [[ticker:MITO]]) made their stock market debut Friday at $12 apiece, which was the low end of the company’s targeted $12 to $14 range. The biotech sold 6.5 … Continue reading “Stealth Bio’s IPO Raises $78M for Clinical Tests of Mitochondrial Drugs”
Google Confirms New Madison Office, Part of $13B National Expansion
Google confirmed this week that it will expand its satellite office in Madison, WI, as part of a $13 billion investment in data centers and offices nationwide in 2019. Xconomy reported Jan. 31 that the Bay Area tech giant intends to triple the size of its downtown Madison outpost by adding a second office, located … Continue reading “Google Confirms New Madison Office, Part of $13B National Expansion”
Boston Tech Watch: Student Loans, Google in Kendall Square & More
General Electric may have backed off its plans for Boston, but at least it’s not leaving town. A student loan startup in Boston eyes help from Capitol Hill. Deals, fundings, and founders moving on. The week in Boston tech is here: —A bill introduced this week in Congress could provide a boost to local student … Continue reading “Boston Tech Watch: Student Loans, Google in Kendall Square & More”
Bio Roundup: Trump’s Scalps, Policy Pressure, NASH Crash & More
While politicians continue to debate what kind of healthcare system is best for the American people, the mostly U.S.-based pharmaceutical industry is trying to convince those same politicians—and anyone else who will listen—that what’s good for the industry is also good for America. Forcing drug prices lower, industry argues, would be bad for our health, … Continue reading “Bio Roundup: Trump’s Scalps, Policy Pressure, NASH Crash & More”
Finding True Love Can Be Ruff, But This Startup Could Have Your Match
Too many people treat pet adoption like a one-night stand. “You look at a dog, and see his eyes, and think he’s cute,” says Tama Lundquist, co-president of Houston PetSet, an organization that works with about 70 animal shelters in the Houston area. “But if you’re a couch potato and he likes to run, that’s … Continue reading “Finding True Love Can Be Ruff, But This Startup Could Have Your Match”
Nimbus Picks Janssen’s Tummino for Chief Scientific Officer Post
Nimbus Therapeutics has appointed Peter Tummino to serve as its chief scientific officer. Tummino comes to the Cambridge, MA, company from Johnson & Johnson (NYSE: [[ticker:JNJ]]) subsidiary Janssen, where he was vice president and global head of lead discovery. His experience also includes multiple roles at GlaxoSmithKline (NYSE: [[ticker:GSK]]). Nimbus, which uses computational science to … Continue reading “Nimbus Picks Janssen’s Tummino for Chief Scientific Officer Post”
Slimmed-Down GE to Repay $87M as It Scales Back Boston HQ Plans
General Electric is backing out of its glitzy Boston ambitions, selling the land it planned to hold a new 12-story headquarters for 800 employees and instead retreating into the two brick buildings on the same site that can hold 250 workers, the company says. The industrial conglomerate and the state economic development authority, MassDevelopment, have … Continue reading “Slimmed-Down GE to Repay $87M as It Scales Back Boston HQ Plans”
It’s Not You, It’s Your Officials: Amazon Cancels HQ Plan for NYC
[Updated, 02/15/19, 8:50 CT] After a whirlwind courtship and brief engagement, Amazon has broken off its plans to establish another headquarters in New York’s Long Island City neighborhood. Amazon (NASDAQ: [[ticker:AMZN]]) rationalized its Valentine’s Day breakup with the Big Apple by saying that the problem was state and local officials, not New Yorkers themselves. A … Continue reading “It’s Not You, It’s Your Officials: Amazon Cancels HQ Plan for NYC”
Passage Bio Gets $116M As Wilson, Yamada Team Up On Gene Therapy Again
Longtime biopharmaceutical executive Tachi Yamada helped keep the work of gene therapy pioneer James Wilson alive 20 years ago when Wilson was mired in controversy and the emerging field was in its darkest days. Now that gene therapy has come of age, in part because of Wilson’s work, the two are teaming up again. They’ve … Continue reading “Passage Bio Gets $116M As Wilson, Yamada Team Up On Gene Therapy Again”
Skyhawk Therapeutics Appoints Guerciolini Chief Medical Officer
Roberto Guerciolini is now chief medical officer of Skyhawk Therapeutics. Guerciolini’s experience includes posts at Wave Life Sciences (NASDAQ: [[ticker:WVE]]), SIRNA Therapeutics, and Dicerna Pharmaceuticals (NASDAQ: [[ticker:DRNA]]). Waltham, MA-based Skyhawk is developing RNA-targeting drugs to treat cancer and neurological diseases. Skyhawk launched a little more than a year ago; last June, the company landed a … Continue reading “Skyhawk Therapeutics Appoints Guerciolini Chief Medical Officer”
TCR²’s IPO Raises $75M to Bring Cancer Cell Therapy to Solid Tumors
Cancer immunotherapy developer TCR² Therapeutics has raised $75 million in an IPO, which it will use for clinical trials to test a type of immunotherapy intended to treat a wider range of cancers than current cell therapies. Late Wednesday, TCR² priced its offering of 5 million shares at $15 apiece. The Cambridge, MA, company had … Continue reading “TCR²’s IPO Raises $75M to Bring Cancer Cell Therapy to Solid Tumors”
Losing “Scalps”? Despite Pharma Fear, A Split on Trump Rx-Price Plans
Despite angry presidential tweets and other anti-pharma rhetoric, the drug industry has benefited under the Trump administration, thanks in part to a massive corporate tax cut. Indeed, for nearly two decades, the industry has been able to fend off its critics and gain win after win from politicians and regulators, including tax holidays, faster drug … Continue reading “Losing “Scalps”? Despite Pharma Fear, A Split on Trump Rx-Price Plans”
May Mobility Snags $22M Investment, Will Expand to New Cities in ’19
May Mobility, an Ann Arbor, MI-based startup developing self-driving shuttles, today announced that it has raised a $22 million Series A funding round. The company has raised approximately $33.5 million since its inception in 2017. The new investment was co-led by Millennium New Horizons and Cyrus Capital Partners, with participation from LG Technology Ventures, Thayer … Continue reading “May Mobility Snags $22M Investment, Will Expand to New Cities in ’19”
Endeavor Robotics Sold for $385M in Deal with Oregon’s FLIR Systems
Endeavor Robotics, a military robot-maker based in Chelmsford, MA, is being bought by FLIR Systems for $385 million in cash, the companies announced Monday. Wilsonville, OR-based FLIR said the deal will bolster its growing unmanned systems business at a time when the U.S. military is increasingly planning on a robot-aided future. FLIR (NASDAQ: [[ticker:FLIR]])—which primarily makes … Continue reading “Endeavor Robotics Sold for $385M in Deal with Oregon’s FLIR Systems”
Houston Health IT Firm Decisio Forms Partnership with GE Healthcare
Houston—Houston medtech startup Decisio Health is partnering with GE Healthcare to accelerate a broader deployment of its critical care dashboard. Financial terms of the deal weren’t disclosed. GE says it will integrate Decisio’s software into its Mural virtual care platform, which aims to prioritize “a clinician’s attention to the most critical patient cases with the … Continue reading “Houston Health IT Firm Decisio Forms Partnership with GE Healthcare”
AbbVie Joins Myeloma Race with $90M Deal for Rights to Teneobio Drug
AbbVie is paying $90 million up front for rights to a multiple myeloma drug from Teneobio that’s now being prepared for tests in humans. The Teneobio drug, TNB383B, is the first to come out of the labs of the Menlo Park, CA, biotech. Under the deal, AbbVie has the right to develop the drug after … Continue reading “AbbVie Joins Myeloma Race with $90M Deal for Rights to Teneobio Drug”
GV Taps Ex-Agios CEO Schenkein to Lead Life Science Investments
It hasn’t taken former Agios Pharmaceuticals CEO David Schenkein very long to find a new gig. Schenkein—the Genentech veteran who helped steer Agios (NASDAQ: [[ticker:AGIO]]) to two drug approvals in less than a decade—has been hired by GV, the venture arm of Google’s parent company, Alphabet (NASDAQ: [[ticker:GOOGL]]), Bloomberg first reported. In his new role … Continue reading “GV Taps Ex-Agios CEO Schenkein to Lead Life Science Investments”
Matching Amgen, Regeneron to Cut List Price of Heart Drug by 60%
Regeneron Pharmaceuticals and partner Sanofi are cutting the list price of their heart drug alirocumab (Praluent) by 60 percent, the latest acknowledgement that the treatment—which has shown a striking ability to lower cholesterol, but has struggled to sell because of its high price tag—isn’t getting to the patients who need it. Starting in early March, … Continue reading “Matching Amgen, Regeneron to Cut List Price of Heart Drug by 60%”