In a tech culture that looks toward self-driving cars as the pinnacle of mobility innovation, we’re still debating whether fully autonomous vehicles are an imminent reality for our roads or an ever-receding Shangri-La. But looking back from the viewpoint of 2019, it’s worth considering whether the really pivotal, world-changing advances in transportation have not already … Continue reading “Autonomic CEO Gavin Sherry on Mobility, China, and Data Privacy”
Category: Boston
Trust & Will Raises $2M to Advance Digitization of Estate Planning
[Updated 9:30 a.m., see below.] Roughly half of American adults have no legal document that details how their assets should be distributed when they die. The team at Trust & Will, a San Diego-based startup founded in October of 2017, is betting that a good chunk of those people would shell out some money to … Continue reading “Trust & Will Raises $2M to Advance Digitization of Estate Planning”
In Another Lung Cancer Setback, Bristol Yanks FDA App For Drug Combo
Bristol-Myers Squibb has lost yet more ground in its ongoing cancer immunotherapy battle with rival Merck. Along with its earnings, the pharma firm reported Thursday that it has pulled a key approval application to use a combo regimen of its already approved immunotherapies, nivolumab (Opdivo) and ipilimumab (Yervoy), in a portion of patients with newly … Continue reading “In Another Lung Cancer Setback, Bristol Yanks FDA App For Drug Combo”
Vertex Pharmaceuticals Exec Ian Smith Fired for “Personal Behavior”
Ian Smith, chief operating officer and interim chief financial officer of Vertex Pharmaceuticals, has been terminated from his positions following an investigation, the company announced Wednesday. Boston-based Vertex (NASDAQ: [[ticker:VRTX]]) said the personnel decision was made due to “personal behavior that violated Vertex’s Code of Conduct and values.” The company did not specify what prompted … Continue reading “Vertex Pharmaceuticals Exec Ian Smith Fired for “Personal Behavior””
DermaClip Ramps Up for U.S. Sales Push of Wound-Healing Device
Houston—Sutures or staples are the norm to close deep wounds that won’t otherwise heal on their own. But a Houston medtech company says it has a better way. DermaClip makes an eponymous device that the company says is a non-invasive way to foster wound healing. The DermaClip device is an adhesive strip placed across a … Continue reading “DermaClip Ramps Up for U.S. Sales Push of Wound-Healing Device”
“At a Critical Juncture,” Desktop Metal Gets $160M From Koch Fund
[Updated 11:41 am ET. See below.] Desktop Metal, a metal 3D-printing company, has raised $160 million in a funding round led by the technology arm of Koch Industries, the multinational industrial conglomerate owned by billionaire philanthropists and right-leaning political donors Charles and David Koch. With the Series E funding from Koch Disruptive Technologies and other investors, … Continue reading ““At a Critical Juncture,” Desktop Metal Gets $160M From Koch Fund”
2019 Will See Progress on Personalization’s Last Frontier: Education
Today, technology and data science have combined to create artificial intelligence—data-driven algorithms that seemingly provide us with options for a fully personalized life. Gone are the days of Henry Ford’s “You can have any color so long as it’s black.” There are way more than three major network TV channels. We live in an era … Continue reading “2019 Will See Progress on Personalization’s Last Frontier: Education”
Bevi Lands $35M for Smarter Water Cooler That Gets to Know You
The water cooler will see you now. The beverage engineers at Boston-based startup Bevi are hard at work building a drink dispenser that can call up the finest details of your workplace drink order. How much lime flavoring is enough? How effervescent should the carbonation be? What mix of vitamins should be added? “We see … Continue reading “Bevi Lands $35M for Smarter Water Cooler That Gets to Know You”
Editas CEO Katrine Bosley to Depart on Cusp of CRISPR Clinical Trial
Editas Medicine has the regulatory blessing to test its experimental gene-editing therapy in humans, and a $25 million check from its partner, Allergan, for hitting that milestone. But Editas will conduct the clinical trial without Katrine Bosley, the CRISPR biotech’s top executive for nearly the last five years. Bosley is leaving her post as president … Continue reading “Editas CEO Katrine Bosley to Depart on Cusp of CRISPR Clinical Trial”
FDA Places Clinical Hold on Translate Bio’s mRNA Drug Study
Translate Bio’s plans to test a messenger RNA (mRNA) drug in patients who have a rare metabolic disorder have been halted by the FDA. Lexington, MA-based Translate Bio (NASDAQ: [[ticker:TBIO]]) said Tuesday that the regulator verbally notified it of “additional clinical and nonclinical questions” about the company’s submission. Until those questions are resolved, the FDA … Continue reading “FDA Places Clinical Hold on Translate Bio’s mRNA Drug Study”
Detroit Trends in 2018? More Traction, Diversity, and Collaboration
Editor’s note: This is part of a series of posts sharing thoughts from industry and technology leaders about 2018 trends. A few trends come to mind that continue to shape and define the startup ecosystem in Detroit: —Marketplaces continue to evolve and attract funding (initial and follow-on), and gain traction that has to be recognized and respected. … Continue reading “Detroit Trends in 2018? More Traction, Diversity, and Collaboration”
Despite Buyout, Celgene Dealmaking Rolls On With Kyn, Obsidian Tie-Ups
[Updated 12:35pm ET with comments from Michael Gilman, Obsidian CEO, see below.] Bristol-Myers Squibb’s huge proposed buyout of Celgene earlier this month has left many in biotech circles concerned that the Summit, NJ, drugmaker’s days of creative, aggressive dealmaking with smaller companies might be over. So far, however, that isn’t the case. Two Boston-area biotechs, … Continue reading “Despite Buyout, Celgene Dealmaking Rolls On With Kyn, Obsidian Tie-Ups”
Michigan Mobility Institute Aims to Expand AV Talent, Ecosystem
A new tech education effort is forming in Detroit—created by Fontinalis Partners co-founder Chris Thomas—that focuses on teaching adult students the skills they need to compete for the increasingly large number of open jobs in the mobility industry. Called the Detroit Mobility Lab, it has two goals: to build the mobility talent infrastructure necessary to … Continue reading “Michigan Mobility Institute Aims to Expand AV Talent, Ecosystem”
Bio Roundup: Aimmune Drama, Shutdown Blues, Perlmutter Talks Cancer
The partial government shutdown, now the longest in U.S. history, began to take a bite out of biotech this week, served with a hot side dish of confusion. On Tuesday, Aimmune Therapeutics (NASDAQ: [[ticker:AIMT]]) said the shutdown would delay the review—and potential approval—of its experimental treatment for peanut allergy. Aimmune said it received a letter … Continue reading “Bio Roundup: Aimmune Drama, Shutdown Blues, Perlmutter Talks Cancer”
Boston Tech Watch: Nantucket, Lionbridge, Nano-C, Barac & Quick Base
Nantucket entrepreneurs welcome, and acquisitions abound. There are also new owners, new offices and new money in the bank for Boston-area technology companies this week. Read on for the details. —Sense, the Cambridge, MA-based home electricity management technology startup, has partnered with Swiss utility technology company Landis+Gyr to put Sense’s technology in Landis’ Internet-of-things platform, … Continue reading “Boston Tech Watch: Nantucket, Lionbridge, Nano-C, Barac & Quick Base”
Educational Play Kit Company Osmo Sold to India’s Edtech Firm Byju’s for $120M
Byju’s, an edtech company based in India that claims a $3.6 billion valuation based on its sales success there, announced it has acquired Palo Alto, CA-based learning-through-play firm Osmo for $120 million. Named after the teacher Byju Raveendran, who founded the company in 2011, Byju’s is making its first acquisition in the United States to … Continue reading “Educational Play Kit Company Osmo Sold to India’s Edtech Firm Byju’s for $120M”
Paul Sekhri Joins eGenesis as President & CEO
Biotech company eGenesis has appointed Paul Sekhri to serve as president and CEO, a position he held at his previous company, Lycera. Sekhri’s experience also includes posts at Teva Pharmaceutical Industries (NYSE: [[ticker:TEVA]]), Cerimon Pharmaceuticals, and Ariad Pharmaceuticals. Sekhri succeeds eGenesis interim CEO Julie Sunderland, who will join the Cambridge, MA, company’s board of directors. … Continue reading “Paul Sekhri Joins eGenesis as President & CEO”
What’s Your Emergency? Law Enforcement’s Increasing Interest in Tech
Fort Worth, TX—Data analytics and visual search technologies are increasingly being used by law enforcement agencies, growth that has captured the attention of tech giant Motorola. The Chicago-based tech company, which has long sold narrow-band radios to law enforcement, has been building its arsenal of software and camera technologies through a series of acquisitions. The … Continue reading “What’s Your Emergency? Law Enforcement’s Increasing Interest in Tech”
FDA Panel Backs Amgen Bone Drug, Says Benefits Outweigh Heart Risks
[Updated 1/17/19, 8:50 a.m. See below.] An experimental Amgen osteoporosis drug that had sparked concern about cardiovascular side effects has won the backing of an FDA advisory panel. A total of 15 panelists on Thursday voted that the benefits of the drug, romosozumab (Evenity), outweigh its risks, and are enough to support its approval. But … Continue reading “FDA Panel Backs Amgen Bone Drug, Says Benefits Outweigh Heart Risks”
ScoutRFP Scores $33M to Compete in Supplier Management Sector
ScoutRFP, whose software is designed to help businesses streamline the process of ordering goods from suppliers, announced that it raised $33 million in a Series C fundraising round led by Scale Venture Partners. San Francisco-based Scout, part of a tech sector dubbed supplier relations management, or SRM, aims to free businesses from painstaking traditional methods … Continue reading “ScoutRFP Scores $33M to Compete in Supplier Management Sector”
Merck And The Future of Immuno-Oncology: A Chat With Roger Perlmutter
Cancer immunotherapy is, in a word, tantalizing. It might save the life of someone at death’s door and keep the cancer at bay for years. Or it might not work at all. There’s no telling what a patient will experience. “There’s a real poverty of understanding of how the machine that is us works,” says … Continue reading “Merck And The Future of Immuno-Oncology: A Chat With Roger Perlmutter”
Walgreens Prepares for High-Tech Future with Microsoft Partnership
Microsoft is making a “wal-to-wal” bet that retailers can harness the Seattle-area tech giant’s products and services to upgrade the brick-and-mortar experience for consumers and patients. About six months after it struck a partnership with Walmart (NYSE: [[ticker:WMT]]), Microsoft on Tuesday announced a seven-year agreement with Walgreens (NASDAQ: [[ticker:WBA]]), the specific financial terms of which … Continue reading “Walgreens Prepares for High-Tech Future with Microsoft Partnership”
Roche Veteran Khwaja Named Voyager Therapeutics Chief Medical Officer
Omar Khwaja has been appointed chief medical officer of Voyager Therapeutics (NASDAQ: [[ticker:VYGR]]). Khwaja comes to the Cambridge, MA-based gene therapy developer from Roche, where he was most recently global head of neuroscience translational medicine and global head of rare diseases. Voyager’s lead drug, VY-AADC, is in mid-stage studies testing it in advanced Parkinson’s disease.
Seres Promotes Shaff to CEO, Pomerantz Continues as Chairman
Eric Shaff, chief operating and financial officer of Seres Therapeutics (NASDAQ: [[ticker:MCRB]]), has been promoted to president and CEO. Shaff is also joining the board of directors of the Cambridge, MA, microbiome drugs developer. Shaff joined Seres as chief financial officer in 2014 and last year took on the additional role of chief operating officer. … Continue reading “Seres Promotes Shaff to CEO, Pomerantz Continues as Chairman”
Pivot to Software: Drone Maker CyPhy Rebrands, Seeks Airborne A.I.
The hardware business isn’t cutting it for CyPhy Works, a maker of tethered drones for everything from military uses to disaster response and the oil and gas industry. Today, the drone company announced a pivot to software—and a rebranding to Aria Insights. (The name comes from the word for a group of canaries.) The investors, … Continue reading “Pivot to Software: Drone Maker CyPhy Rebrands, Seeks Airborne A.I.”
A VC’s Take: Global Volatility Hurts U.S. Venture Ecosystem
As Xconomy’s editors looked back at the year just passed, we asked technology leaders to comment on the trends they’d observed in 2018, and the developments they expected in 2019. Some leaders responded with their views on the business impact of the Trump era, pointing to specific policy positions such as tax code revisions, curbs … Continue reading “A VC’s Take: Global Volatility Hurts U.S. Venture Ecosystem”
IBM Vets Launch Sonrai Security, Eyeing Multi-Cloud “Complexity”
Businesses racing faster and faster to put their data and applications into multiple cloud services will soon have to figure out how to keep an eye on it all. Start thinking about the hundreds of users, the dozens of accounts, and the handful of different cloud services that don’t always speak the same language, and … Continue reading “IBM Vets Launch Sonrai Security, Eyeing Multi-Cloud “Complexity””
Pensa, AI-Enabled Drones Maker for Inventory Monitoring, Raises $5M
[Updated, 1/18/19, 1:10 pm CT] Austin—The grocery store shelf has yet to be plugged into the increasingly digital food supply chain. Instead, inventory is typically tallied by employees by hand in a slow and laborious process. “It’s one big black hole with groceries, not knowing what is exactly on the retail shelf and available for … Continue reading “Pensa, AI-Enabled Drones Maker for Inventory Monitoring, Raises $5M”
Kaleido Bio and Cirius Join an IPO Queue Stalled by Federal Shutdown
The partial government shutdown may have diminished staffing at the SEC, but it hasn’t dimmed the hopes of biotech firms hoping to go public. On Friday, Kaleido Biosciences and Cirius Therapeutics both filed paperwork for their respective initial public offerings with the securities regulator. While it’s operating with “very limited staff” due to the shutdown, … Continue reading “Kaleido Bio and Cirius Join an IPO Queue Stalled by Federal Shutdown”
E-Commerce Startups, Legacy Stores Grapple With Changing Retail Scene
The changing of the guard transforming retail is accelerating. Sears, the nation’s first “everything store,” is teetering toward bankruptcy after years of stagnation as industry leaders prepare to gather in New York at the National Retail Federation’s annual conference. Yet, new startups—aided with tech tools like artificial intelligence, chatbots, and the like—are trying to reinvent … Continue reading “E-Commerce Startups, Legacy Stores Grapple With Changing Retail Scene”
Tech Companies Share Shutdown Losses, With Little Chance of Back Pay
As federal agency employees miss their first paychecks today due to the partial government shutdown that began Dec. 22, federal contractors and their workers—including technology professionals—face a loss of income that they may never recover. Big technology companies such as Oracle (NYSE: [[ticker:ORCL]]), Microsoft (NASDAQ: [[ticker:MSFT]]), and Amazon (NASDAQ: [[ticker:AMZN]]), as well as smaller tech … Continue reading “Tech Companies Share Shutdown Losses, With Little Chance of Back Pay”
Report: After a Boffo 2018, VC Deals in Digital Health May Flatten
Investments in digital health startups totaled $8.1 billion in 2018, a record year that marked a 42 percent increase over 2017’s total, according to a report released this week by Rock Health. But the report’s authors say it’s unlikely that venture capital investments in digital health, an area that encompasses the use of software and … Continue reading “Report: After a Boffo 2018, VC Deals in Digital Health May Flatten”
Bio Roundup: #JPM19 Notes, Loxo Buyout, Black Diamond’s Cash & More
Diabetes drugs are Eli Lilly’s bread and butter, but the pharmaceutical giant hasn’t lost its appetite for cancer drugs. It grabbed hold of a few more this week by betting $8 billion on Loxo Oncology. Loxo (NASDAQ: [[ticker:LOXO]]) has made a name for itself by becoming one of just two companies ever to earn an … Continue reading “Bio Roundup: #JPM19 Notes, Loxo Buyout, Black Diamond’s Cash & More”
Notes from the JPM19 Vortex: Price Apocalypse, Celgene Fallout & More
[Editor’s note: Ben Fidler and Sarah de Crescenzo coauthored this report.] It is here, and then it is gone. But by the time everyone staggers to the airport or back home to sleep in their own beds, the annual few days of the J.P. Morgan Healthcare Conference and everything that mushrooms around it seem just … Continue reading “Notes from the JPM19 Vortex: Price Apocalypse, Celgene Fallout & More”
Boston Tech Watch: Boston Metal, TaxJar, ClimaCell, & WithMe Health
[Updated 11:38 AM. Paragraph added.] A bunch of startups started 2019 off on the right foot taking big checks cut by investors that continue the boom from 2018. Read on for more. —Weather forecast company ClimaCell says its high-resolution data is now available in 40 countries, including India. In October, the Boston-based startup raised $45 … Continue reading “Boston Tech Watch: Boston Metal, TaxJar, ClimaCell, & WithMe Health”
Former Roche Exec Pearl Huang Joins Cygnal Therapeutics as CEO
Cygnal Therapeutics has appointed Pearl Huang to serve as its CEO. Huang most recently worked at Roche, where she was senior vice president and global head of therapeutic modalities. Her experience also includes executive roles at GlaxoSmithKline (NYSE: [[ticker:GSK]]), Merck (NYSE: [[ticker:MRK]]), and BeiGene (NASDAQ: [[ticker:BGNE]]). Cambridge, MA-based Cygnal developed within the labs of venture … Continue reading “Former Roche Exec Pearl Huang Joins Cygnal Therapeutics as CEO”
Uncertainty Grows for Biotech as Government, FDA Shutdown Drags On
The partial government shutdown could soon become the longest shutdown in history, and biotech firms that have submitted regulatory filings are facing greater uncertainty about their future plans. More than 40 percent of FDA workers and thousands at the SEC are furloughed, and FDA Commissioner Scott Gottlieb is resorting to Twitter to post updates about … Continue reading “Uncertainty Grows for Biotech as Government, FDA Shutdown Drags On”
FAANG, Public Trust, Valuations, in 2019: The Read from Menlo Ventures
The market caps of some of the most successful tech titans reach as high as $1 trillion. Yet in 2018, perceptions about these dominant companies often reflected uneasiness and doubt—and for some, so did their stock performance. Maybe the mood shift has to do with the fact that the public and government leaders no longer … Continue reading “FAANG, Public Trust, Valuations, in 2019: The Read from Menlo Ventures”
Apollo 8: Holding the Mirror Up to Our Planet—Milestones of Innovation 16
The fiftieth anniversary of Apollo 8’s orbital visit to the moon underlines the importance of emotion and changes of perception in the history of innovation. Then and later, commentators said that the technological marvel reversed some of the gloom from the assassinations of Martin Luther King and Robert Kennedy, the Chicago police beating of dissidents … Continue reading “Apollo 8: Holding the Mirror Up to Our Planet—Milestones of Innovation 16”
Black Diamond Gets $85M for Cancer Drugs R&D and New Cambridge HQ
When Black Diamond Therapeutics emerged from stealth mode last month with $20 million in backing and a handful of preclinical cancer drugs, the company signaled that another financing was in the works for 2019. That day is here. Black Diamond announced late Wednesday that it has closed $85 million in Series B financing, which the … Continue reading “Black Diamond Gets $85M for Cancer Drugs R&D and New Cambridge HQ”
Big Deals, Life Sciences Push U.S. VC in 2018 to Dot-Com Boom Levels
[Updated 1/18/19, 3:27 pm. See below.] Venture capital investments rose in 2018 to levels not seen since the heady days of 2000, the last year U.S. startups collectively took in more than $100 billion. That’s according to PitchBook and the National Venture Capital Association’s Venture Monitor report, released this week, which tallied nearly 9,000 deals … Continue reading “Big Deals, Life Sciences Push U.S. VC in 2018 to Dot-Com Boom Levels”
Beta Bionics Secures $63M as AI-Driven “Pancreas” Heads to Key Tests
Beta Bionics, a startup developing a medical device that monitors and manages blood sugar levels in diabetes patients, has closed $63 million to back late-stage clinical tests of its AI-powered technology. The cash tops off a Series B round of funding announced last year. The Boston company, which counts diabetes drug giants Eli Lilly (NYSE: … Continue reading “Beta Bionics Secures $63M as AI-Driven “Pancreas” Heads to Key Tests”
With Room To Grow, Facebook Boston Moves Into Shiny, New Office
Facebook’s new Boston office—which is really in Cambridge, MA—is up and running, and there’s plenty of elbow room. The digs measure 130,000 square feet of open-style tech workspaces, something called micro-kitchens, a massive cafeteria, and cheeky-titled conference rooms. Floor-to-ceiling windows offer views of Cambridge, Boston’s Beacon Hill, the Zakim Bridge, and more, all from the … Continue reading “With Room To Grow, Facebook Boston Moves Into Shiny, New Office”
Smooth-Driving Startup ClearMotion Gets $115M for Production Push
[Corrected 1:02 pm ET. See below.] Auto technology startup ClearMotion says its active suspension system promising buttery-smooth rides on bumpy terrain is ready for prime time. The Boston-area business says it raised a $115 million Series D funding round led by Franklin Templeton Investments and it is working with a handful of automotive manufacturers to commercialize … Continue reading “Smooth-Driving Startup ClearMotion Gets $115M for Production Push”
The Power Combo of A.I. Devices with Cloudlets Comes with Cyber Risks
When we have a chance to view it from a distance, the year 2018 may be seen as a period when innovations in a number of technological fields came together to transform not only the future of computing, but also the very structure of the Internet. First, entrepreneurs vying to invent self-driving vehicles, virtual assistants, … Continue reading “The Power Combo of A.I. Devices with Cloudlets Comes with Cyber Risks”
Foundation Medicine Appoints Roche’s Cindy Perettie CEO
Foundation Medicine has appointed Cindy Perettie to serve as its CEO. Perettie comes to Cambridge, MA-based Foundation from Roche, where she was a senior vice president in global oncology product strategy for the company’s oncology unit. Perettie will start at Foundation on Feb. 4 succeeding Troy Cox, who has been CEO for the past two … Continue reading “Foundation Medicine Appoints Roche’s Cindy Perettie CEO”
Identity as Security Key: Akamai Buys Online Access Firm Janrain
It’s an online security concern perhaps best distilled in a popular 1993 comic from The New Yorker magazine. “On the Internet, nobody knows you’re a dog,” reads the comic that shows a drawing of one pooch atop an office chair in front of a computer, sharing the wisdom to a second of man’s best friend … Continue reading “Identity as Security Key: Akamai Buys Online Access Firm Janrain”
Bio-JPM Roundup: Lilly Buys Loxo, Sage’s Stock Soars, ALS Cash & More
The flow of biotech news is particularly heavy today, and for good reason. The annual J.P. Morgan Healthcare Conference, one of the biggest gatherings for the biopharmaceutical industry, kicked off today in San Francisco, and many companies, whether they’re speaking at the event or not, use this time to get their news out. Xconomy is … Continue reading “Bio-JPM Roundup: Lilly Buys Loxo, Sage’s Stock Soars, ALS Cash & More”
Tidelift’s “Netflix for Open-Source Software” Model Gets $25M Boost
Tidelift, a startup trying to solve some of the open-source software industry’s problems around compensation and security, said it wrapped up a $25 million investment to gather more publicly maintained software projects under its umbrella. The Boston-based company, founded in 2017 by four Red Hat vets, said it is trying to recreate what Red Hat … Continue reading “Tidelift’s “Netflix for Open-Source Software” Model Gets $25M Boost”
Humatics Raises $28M Round to Advance Spatial Intelligence Platform
Humatics, the Waltham, MA-based startup working on microlocation technology for use in robots and autonomous vehicles, today announced that it has raised $28 million in a Series A1 round. The investment was led by Tenfore Holdings, with participation from Blackhorn Ventures, JCI Ventures (the venture arm of Johnson Controls), and all major investors from Humatics’ 2017 Series … Continue reading “Humatics Raises $28M Round to Advance Spatial Intelligence Platform”