Murray Stewart has been appointed chief medical officer of Rhythm Pharmaceuticals (NASDAQ: [[ticker:RYTM]]). Stewart joins Boston-based Rhythm from Novelion Therapeutics (NASDAQ: [[ticker:NVLN]]), where he was head of R&D. His experience also includes 18 years at GlaxoSmithKline (NYSE: [[ticker:GSK]]), where he held several roles, including chief medical officer. Last year, Rhythm raised $120 million in an … Continue reading “Rhythm Pharma Appoints Murray Stewart Chief Medical Officer”
Category: Boston
Fusion Coolant Systems Snags $8M Series C, Plans to “Hit Go Button”
Fusion Coolant Systems, the Canton, MI-based industrial tech startup spun out of the University of Michigan, has raised an $8 million Series C funding round. The investment was led by Material Impact, a Boston venture capital firm, and Michigan Capital Advisors, with participation from existing investors, including U-M’s Michigan Investment in New Technology Startups (MINTS), … Continue reading “Fusion Coolant Systems Snags $8M Series C, Plans to “Hit Go Button””
Room Service by Robot and Other Ways Tech Is Changing the Hotel Stay
More days than not, Michael Colaneri’s home is a hotel room. So innovations like “geolocation” sensors that automatically unlock his room door and adjust the thermostat when he’s nearby make the constant change easier—sometimes. “My experience has been exceptionally inconsistent,” he says. “When it’s worked, it’s really great, cool, and so efficient to the point … Continue reading “Room Service by Robot and Other Ways Tech Is Changing the Hotel Stay”
MIT Raises $650M for New College to Advance A.I. With Eye on Ethics
MIT is making another significant investment in artificial intelligence. The Institute announced Monday that it will establish a new college on its Cambridge, MA, campus—the MIT Stephen A. Schwarzman College of Computing—that will serve as an interdisciplinary hub for advancing ideas in computer science, artificial intelligence, data science, and related fields. The college is getting … Continue reading “MIT Raises $650M for New College to Advance A.I. With Eye on Ethics”
Alnylam Won’t Seek Quick FDA Nod For Second RNAi Drug
A few weeks ago, Alnylam Pharmaceuticals indicated it might seek a speedy FDA approval for what could be the second-ever RNA interference medicine to market. After meeting with regulators, however, the Cambridge, MA, company has come up with a different plan. Alnylam (NASDAQ: [[ticker:ALNY]]) said this morning that it won’t seek accelerated approval of an … Continue reading “Alnylam Won’t Seek Quick FDA Nod For Second RNAi Drug”
Roche and SQZ Biotech Expand R&D Pact in Pursuit of New Cancer Drugs
Roche, the world’s biggest cancer drug company, selected the technology of startup SQZ Biotechnologies to help it develop new cellular therapies for cancer. Three years after that drug alliance started, the partners are now broadening the immune cells covered by the collaboration. The companies are expanding their drug development pact to encompass drugs based on … Continue reading “Roche and SQZ Biotech Expand R&D Pact in Pursuit of New Cancer Drugs”
Bristol Stumbles in Lung Cancer Again as Rivals Play Catch-Up
Nivolumab (Opdivo) recently became the first immunotherapy ever approved for people with small cell lung cancer (SCLC), a particularly aggressive form of the deadly disease. But the lead given to its developer, Bristol-Myers Squibb, may be short-lived. Bristol (NYSE: [[ticker:BMY]]) said today that its immunotherapy nivolumab (Opdivo) failed a Phase 3 study called Checkmate 331. … Continue reading “Bristol Stumbles in Lung Cancer Again as Rivals Play Catch-Up”
Bio Roundup: BIO Diversity, Allogene IPO, CRISPR In Utero & More
Nearly four years after investors snapped up new shares of Juno Therapeutics in a $265 million IPO, cancer immunotherapy remains a hot ticket. Like Juno, Allogene Therapeutics just pulled in a massive IPO haul, nearly $300 million. And like Juno, Allogene is working with a live immune-cell treatment called CAR-T, but it is harvesting cells … Continue reading “Bio Roundup: BIO Diversity, Allogene IPO, CRISPR In Utero & More”
Transatomic Power Leader Talks Startup’s Demise, Political Headwinds
It’s hard out there for nuclear energy startups. Not only do they face daunting challenges in trying to develop more efficient and safer methods of generating power from nuclear materials, but regulations and the current political climate can also pose roadblocks. At least, that’s board member Russ Wilcox’s take on the factors that contributed to … Continue reading “Transatomic Power Leader Talks Startup’s Demise, Political Headwinds”
Facebook Bars 800 Fake Accounts and Pages For Using Tactics Like Russia’s
In another wave of account shutdowns, Facebook announced Thursday that it disabled more than 800 pages and accounts to prevent groups that disguised their identities from flooding its network with inauthentic content—some of it hyper-partisan political messages. Facebook (NASDAQ: [[ticker:FB]]) has been under pressure to cleanse its pages of fake news since the discovery that … Continue reading “Facebook Bars 800 Fake Accounts and Pages For Using Tactics Like Russia’s”
BIO Has Big Diversity Goals. Does It Have the Means to Reach Them?
Whether from embarrassing parties or sobering surveys, the biotech gender gap problem has made plenty of headlines the past couple years. The industry’s largest trade group, the Biotechnology Industry Organization (BIO), is trying to encourage its more than 1,000 member companies to do better. Last winter, BIO posted diversity goals for the industry to hit … Continue reading “BIO Has Big Diversity Goals. Does It Have the Means to Reach Them?”
Tim Berners-Lee Building Inrupt to Fix the Web—Will Users Come?
The World Wide Web is at a crossroads. For all the benefits it has brought society over the past three decades—faster and easier communication, instant knowledge access, a seemingly inexhaustible marketplace of goods and services—the Web has also morphed into an “engine of inequity and division,” according to its inventor, Tim Berners-Lee (pictured above). In … Continue reading “Tim Berners-Lee Building Inrupt to Fix the Web—Will Users Come?”
Special Day Passes for X·CON 2018! November 4, 5, and 6
In less than a month Xconomy’s newest event, X·CON 2018, will explore the future of innovation across multiple topics and industries, and facilitate deep interactions far beyond your standard conference. It will take place on November 4, 5, and 6 in three innovation venues in Kendall Square and Boston’s Seaport District. The conference is aimed … Continue reading “Special Day Passes for X·CON 2018! November 4, 5, and 6”
Xconomy Awards 2018 Gala Honors the Best of Boston Life Science: Slideshow
The 2nd annual Xconomy Awards Gala was a who’s who of Boston biotech. About 400 people from across the life science ecosystem came out to Boston’s Hynes Convention Center last month to celebrate the finalists over dinner and drinks, find out who got to take home the awards, and reconnect with friends and colleagues. It … Continue reading “Xconomy Awards 2018 Gala Honors the Best of Boston Life Science: Slideshow”
Anaplan Ups Estimate For Its IPO Haul; Allogene IPO Raises $288M
San Francisco-based Anaplan, one of five companies planning to close initial public offerings this week, raised the expected price range for its shares in an SEC filing Wednesday, signaling an IPO that could be richer than it had anticipated. Enterprise planning software company Anaplan, which is privately valued at more than $1.4 billion, had originally … Continue reading “Anaplan Ups Estimate For Its IPO Haul; Allogene IPO Raises $288M”
CRISPR Therapeutics, Vertex Get FDA Green Light for Sickle Cell Test
[Corrected, 10/11/18, 11:12 a.m.] The FDA has lifted its hold on a clinical trial for a genetically engineered treatment for sickle cell disease, and CRISPR Therapeutics and Vertex Pharmaceuticals say they plan to start a Phase 1/2 study in the U.S. and Europe by the end of the year. Enrollment is already underway for a … Continue reading “CRISPR Therapeutics, Vertex Get FDA Green Light for Sickle Cell Test”
In New York, Gotham Starts Up With $54M for RNA-Modifying Drugs
A new company has emerged from New York City’s growing startup biotech scene. Gotham Therapeutics launched today with a $54 million Series A round, becoming the second startup since May to form with a plan to alter RNA molecules with chemical drugs. The funding was co-led by Versant Ventures, a venture firm that formed an … Continue reading “In New York, Gotham Starts Up With $54M for RNA-Modifying Drugs”
Boston Tech Watch: Wayfair, Monster, Circle, Rocket, Cogito & More
Time to catch up on recent Boston-area tech headlines, including a trio of mergers and acquisitions, venture capital deals in artificial intelligence and cybersecurity, a new chief technology officer at Monster, and Wayfair’s first brick-and-mortar locations. Read on for details. —Bain Capital Private Equity reached an agreement to purchase a majority stake in Rocket Software, … Continue reading “Boston Tech Watch: Wayfair, Monster, Circle, Rocket, Cogito & More”
Passport Buys Austin Parking Enforcement Software Company NuPark
Austin—Passport, a company with software that helps cities and other organizations manage operations, has acquired a business called NuPark that sells parking management services. Terms of the deal weren’t disclosed. NuPark, based in Cedar Park, TX, and makes video and software technology that helps customers like schools and governments manage parking. Passport sells mobile-based software … Continue reading “Passport Buys Austin Parking Enforcement Software Company NuPark”
Eyeing NASH, Glympse Raises $22M to Test Disease Detection Nanotech
Glympse Bio has developed sensor technology that it says can give clinicians an early look at a developing disease. As Glympse prepares to test its disease detection approach in a serious liver disorder, the startup has raised $22 million in Series A financing. LS Polaris Innovation Fund and Arch Venture Partners co-led the investment in Cambridge, … Continue reading “Eyeing NASH, Glympse Raises $22M to Test Disease Detection Nanotech”
U.S. Venture Capital Deals on Pace to Exceed $100B in 2018
Once considered a passing phase, the concentration of capital into fewer, larger venture capital deals appears to be the new normal. Fueled by so-called mega-funds, investment in U.S.-based venture-backed companies as of the end of the third quarter hit a decade high, and is on pace to pass the $100 billion mark by year’s end. … Continue reading “U.S. Venture Capital Deals on Pace to Exceed $100B in 2018”
With a $10.2M Boost, YourMechanic Aims at Mobility Fleet Market
Every month, there’s news of another partnership among carmakers like GM and tech companies such as Uber, as they vie for dominant roles in a transportation future where individual car ownership may largely give way to rides-on-demand from fleets of autonomous and tech-enabled vehicles. But whether Uber, Toyota, GM, Honda, or Google end up at … Continue reading “With a $10.2M Boost, YourMechanic Aims at Mobility Fleet Market”
Circulation CEO Talks Sale to LogistiCare & Amazon’s Healthcare Play
[Corrected 10/9/18, 10:09 am. See below.] The recent acquisition of Circulation, a software startup trying to make non-emergency medical transportation more efficient, could offer a glimpse of the next phase in the “consumerization” of healthcare—and, perhaps, another target market for Amazon. Those were some of the takeaways from a conversation I had Friday with Robin … Continue reading “Circulation CEO Talks Sale to LogistiCare & Amazon’s Healthcare Play”
FDA OKs Akcea Rare Disease Drug, Setting Up Market Clash with Alnylam
For the second time since August, the FDA has approved a new treatment for a rare and deadly disease called hereditary transthyretin amyloidosis (hATTR). The agency’s nod for inotersen (Tegsedi) sets the stage for a market battle between the drug’s developer, Akcea Therapeutics, and rival Alnylam Pharmaceuticals. The FDA approved inotersen for treating polyneuropathy, the … Continue reading “FDA OKs Akcea Rare Disease Drug, Setting Up Market Clash with Alnylam”
Genomatica Grabs $90M to Boost Sustainable Chemical Business
Bioengineering pioneer Genomatica has raised $90 million in private funding to accelerate the commercialization of two chemicals it has developed from renewable sources—chemicals that are being used today in plastics, cosmetics, and personal care. The company says it will also use the money to further ongoing development of a third chemical, to be used in … Continue reading “Genomatica Grabs $90M to Boost Sustainable Chemical Business”
SQZ Biotech Appoints Pfizer Veteran Volker Herrmann COO
Volker Herrmann has been appointed chief operating officer and president of cell therapy developer SQZ Biotechnologies. Before joining Watertown, MA-based SQZ, Herrmann was chief operating officer of Selenity Therapeutics. His experience also includes 17 years at Pfizer (NYSE: [[ticker:PFE]]), where he held various positions, including head of global strategy, marketing, and commercial for the company’s … Continue reading “SQZ Biotech Appoints Pfizer Veteran Volker Herrmann COO”
With Orchard’s IPO, GSK’s Old Gene Therapy Biz Gets a Wall Street Test
GlaxoSmithKline’s former gene therapy portfolio is headed to Wall Street—in the hands of Orchard Therapeutics. The London, Boston, and San Francisco, CA, company has filed for an IPO, aiming to back both a group of in-house gene therapies and others it acquired from GSK in April—among them Strimvelis, which is one of the few approved … Continue reading “With Orchard’s IPO, GSK’s Old Gene Therapy Biz Gets a Wall Street Test”
Schneider Electric Leads $18M Round for Home Energy Startup Sense
Sense, a Boston-area home energy monitoring startup, has raised $18 million in fresh funding from a group of backers that includes energy and robotics companies. Schneider Electric led the Series B financing round, and it was joined by earlier Sense investors Shell Ventures, iRobot (NASDAQ: [[ticker:IRBT]]), Energy Impact Partners, Prelude Ventures, and Capricorn Investment Group. … Continue reading “Schneider Electric Leads $18M Round for Home Energy Startup Sense”
Bio Roundup: Nobel Prizes, Duchenne Steps, Guardant’s IPO & More
Cancer immunotherapy is all the rage these days. The idea of harnessing the immune system to treat cancer has sparked billions of dollars in research, led to a vast matrix of clinical trials, and started to change the way how several cancers are treated. The reason: When it works, cancer immunotherapy can lead to longer-lasting … Continue reading “Bio Roundup: Nobel Prizes, Duchenne Steps, Guardant’s IPO & More”
FDA Approves Roche Drug For All Hemophilia A Patients, But Rivals Loom
The treatment landscape for hemophilia is changing fast, and today marks a turning point. The FDA has just cleared Roche to sell its drug emicizumab (Hemlibra) to patients with any form of hemophilia A—making it, potentially, the choice treatment for the disease. At least for now. The FDA first approved emicizumab in late 2017 for … Continue reading “FDA Approves Roche Drug For All Hemophilia A Patients, But Rivals Loom”
Rethink Robotics, Maker of Factory Robots, Shuts Down
Rethink Robotics, one of New England’s best-funded robotics companies, has shut down, according to reports by The Robot Report and The Boston Globe. Rethink, which developed collaborative factory robots, had raised more than $130 million in venture funding since it was started in 2008. The company was led by CEO Scott Eckert and founder and … Continue reading “Rethink Robotics, Maker of Factory Robots, Shuts Down”
ClimaCell Grabs $45M for Weather Data for Airlines, Driverless Cars
Aviation, public utilities, and insurance are among the old-line industries that rely on accurate weather forecasts and monitoring to make crucial decisions for their operations. Now, advances in artificial intelligence and other technologies are creating uses for weather data in new sectors—think ride-hailing services, drones, and self-driving cars. That’s according to ClimaCell, a Boston-based startup … Continue reading “ClimaCell Grabs $45M for Weather Data for Airlines, Driverless Cars”
Cloudera, Hortonworks Plan to Merge as $5.2B Cloud Data Platform
Cloudera and Hortonworks, two large, publicly traded companies that compete to offer Web-based data storage and analytics, announced plans today to merge into a combined entity they value at $5.2 billion. Share prices for the two Silicon Valley companies spiked in after-hours trading following the announcement Wednesday that both their boards approved the all-stock deal. Palo … Continue reading “Cloudera, Hortonworks Plan to Merge as $5.2B Cloud Data Platform”
Sarepta Touts New Data and a “Signal” With Duchenne Gene Therapy
For the first time, a gene therapy—a one-time, long-lasting treatment—has shown it may improve the lives of kids with Duchenne muscular dystrophy, a deadly genetic disease with no cure. Patients in a small trial showed improved motor function, such as walking and climbing stairs, and near-normal levels of a key muscle protein. But the data … Continue reading “Sarepta Touts New Data and a “Signal” With Duchenne Gene Therapy”
Paratek Wins Two FDA Drug Approvals for Three Conditions in Same Day
Yesterday was a good day for Paratek Pharmaceuticals. The FDA approved a Paratek antibiotic as a treatment for pneumonia and serious skin infections. That regulatory decision late Tuesday for the drug, omadacycline (Nuzyra), followed approval earlier that day for a different drug, sarecycline (Seysara), a treatment for moderate-to-severe acne. The stock price of Boston-based Paratek (NASDAQ: … Continue reading “Paratek Wins Two FDA Drug Approvals for Three Conditions in Same Day”
Apptio Acquires FittedCloud to Broaden Enterprise IT Analytics Tools
Apptio, a Seattle-area company that helps corporate technology leaders manage their IT spending, said Wednesday that it has acquired FittedCloud, a Boston-based developer of cloud optimization software. Apptio’s (NASDAQ: [[ticker:APTI]]) news release announcing the deal did not contain any financial terms. However, the company said its acquisition of FittedCloud “is not material from a financial … Continue reading “Apptio Acquires FittedCloud to Broaden Enterprise IT Analytics Tools”
Hopper Reels In $100M to Boost Travel-Booking App’s A.I.
Travel-booking app Hopper is taking a big leap this morning, announcing a $100 million venture funding round. The Series D financing was led by Omers Ventures. Other investors in the round included new backer Citi Ventures, as well as earlier Hopper investors Caisse de dépôt et placement du Québec (CDPQ), Accomplice, Brightspark Ventures, Investissement Québec, … Continue reading “Hopper Reels In $100M to Boost Travel-Booking App’s A.I.”
Girls In Tech Showcases Women Founders In SF Pitch Competition
Kristina Tsvetanova says she found the motivation for her startup Blitab in 2014, when a blind colleague’s struggle to communicate via the Internet made her conscious of the barriers facing visually impaired people in a digital world. Her search for solutions spurred her to move from her native Bulgaria to find greater resources in Vienna, … Continue reading “Girls In Tech Showcases Women Founders In SF Pitch Competition”
Synlogic Promotes Aoife Brennan to President & CEO
Aoife Brennan has been appointed president and CEO of synthetic biology company Synlogic (NASDAQ: [[ticker:SYBX]]), effective immediately, the company announced Tuesday. Brennan had been serving as interim president and chief executive of Cambridge, MA, Synlogic since May. She joined the company as chief medical officer in 2016 after six years at Biogen (NASDAQ: [[ticker:BIIB]]). Synlogic … Continue reading “Synlogic Promotes Aoife Brennan to President & CEO”
Elemental Partners With PerkinElmer, Lands $9M in VC Bucks
[Updated, 10/3/18, 1:35pm, to clarify the customer relationship] Elemental Machines is a startup making progress in a challenging field. That field would be sensors and systems that monitor and optimize physical processes in life sciences, pharmaceuticals, and other industries. You can tell it’s challenging because there isn’t even a name for it. But it touches … Continue reading “Elemental Partners With PerkinElmer, Lands $9M in VC Bucks”
Pivot Bio Gets $70M, Led by Bill Gates’s Fund, to Replace Fertilizer
Applying fertilizers to fields has been a standard farming practice for generations. The problem with these chemicals is that they end up in the air or in water runoff. Scientists at agriculture startup Pivot Bio say the key to delivering an important nutrient to crops has been at the plants’ roots all along—and the company … Continue reading “Pivot Bio Gets $70M, Led by Bill Gates’s Fund, to Replace Fertilizer”
FDA’s Latest Cancer Approval Underscores Immunotherapy Nobel Prize
The FDA is not only approving a lot more drugs these days, it seems to have also developed a sense of dramatic timing. Late last Friday, the agency approved its seventh checkpoint inhibitor, a type of cancer drug that blocks a tumor’s ability to hide from the immune system. Less than 72 hours later, two … Continue reading “FDA’s Latest Cancer Approval Underscores Immunotherapy Nobel Prize”
Here’s the Agenda for X·CON 2018 on Nov. 4-6 (and Why You Should Care)
There’s something special brewing in Boston. On November 4, 5, and 6, we are convening business leaders across tech, life science, and other innovation fields to showcase the big trends that will transform industry—and society. Our speakers include Esther Dyson, Sandy Pentland, Diane Hessan, Mohamad Ali, and executives from Google, IBM, Dell EMC, Philips, and … Continue reading “Here’s the Agenda for X·CON 2018 on Nov. 4-6 (and Why You Should Care)”
GE Abruptly Replaces CEO Flannery with Former Danaher CEO Culp
[Updated 10/1/18, 10:57 am. See below.] In an unexpected move, General Electric has replaced its chief executive just 16 months after naming him its next leader. GE (NYSE: [[ticker:GE]]) announced Monday it named H. Lawrence Culp, Jr., as CEO and chairman, immediately replacing John Flannery (pictured above). Culp has served on GE’s board since April. Before … Continue reading “GE Abruptly Replaces CEO Flannery with Former Danaher CEO Culp”
TUGG, Led by Reddit Vet, Plans New “Volunteer in Residence” Program
TUGG is getting more ambitious. Over the past decade, TUGG, which stands for Technology Underwriting Greater Good, has become one of the most visible efforts by employees of Boston-area tech companies and venture capital firms to give back to the local community. Working with the nonprofit, employees donate their time and money to local charities … Continue reading “TUGG, Led by Reddit Vet, Plans New “Volunteer in Residence” Program”
NodThera Picks Genzyme Exec Adam Keeney for President and CEO Role
Adam Keeney has joined NodThera as president and CEO. He is also joining the company’s board of directors. Alan Watt, who had been serving as interim CEO, will resume his role as chief scientific officer of the Cambridge, UK, company. With Keeney’s appointment, NodThera will also open a new office in the Boston area. Keeney … Continue reading “NodThera Picks Genzyme Exec Adam Keeney for President and CEO Role”
Findera Tries a Pivot Amid a Whirlwind Over Data Privacy Rules
Early last year, the San Francisco startup Yozio decided it would have to scuttle its core mission, despite having attracted marquee customers including Pinterest and Airbnb within only a few years. The problem was, there turned out to be too few such websites with the size and sophistication to use Yozio’s app-optimization tools to advantage, … Continue reading “Findera Tries a Pivot Amid a Whirlwind Over Data Privacy Rules”
XRC Labs Showcases Retail Tech Innovations in VR, AI, Big Data
XRC Labs, an accelerator program focused on e-commerce and retail startups, held a demo day for its latest class Thursday, featuring innovations in artificial intelligence, virtual reality, and other technologies. The group of 10 startups is the sixth class for New York-based XRC, which was founded three years ago to promote innovation in the disruptive … Continue reading “XRC Labs Showcases Retail Tech Innovations in VR, AI, Big Data”
Bio Roundup: Amarin’s Stunner, Lung Cancer News, Data Dumps & More
Six years ago, a biotech called Amarin won FDA approval of a prescription fish-oil pill, Vascepa, because it could lower triglycerides, a type of fat in the blood. But Amarin didn’t have the evidence that lowering triglycerides with fish oil would really help people. Sales lagged. Amarin’s shares sank. While other groups tested other fish … Continue reading “Bio Roundup: Amarin’s Stunner, Lung Cancer News, Data Dumps & More”
With CRISPR’s Help, KSQ Touts 13 Cancer Drugs and Bags Another $80M
Can CRISPR-Cas9, the landmark genome editing tool, help speed up drug discovery? That was the pitch behind KSQ Therapeutics when it started up in 2015. Three years later, the Cambridge, MA, startup says the CRISPR tool has allowed it to make the kind of progress it wouldn’t have otherwise, with 13 experimental cancer drugs in … Continue reading “With CRISPR’s Help, KSQ Touts 13 Cancer Drugs and Bags Another $80M”