[Updated 8/23/18, 9:05 am. See below.] Time to catch up on recent news from the Boston-area tech sector: —We’ve got more details on Actifio’s recently announced $100 million funding round: nearly $59 million of that total was equity funding, according to an SEC filing. A company spokesman told Xconomy the remainder of the investment was … Continue reading “Boston Tech Watch: Actifio, DraftKings, WaveSense, BabelBark & More”
Category: Boston
TraceLink Bags $93M, Plans A.I. & Blockchain Tools for Drug Tracking
Step one for TraceLink, a maker of software that helps track the supply chain of pharmaceuticals, was recruiting hundreds of thousands of companies and organizations to its digital platform. Now, much like the playbooks of social media companies and other tech firms, step two will be to develop “new applications on top of that infrastructure”—thereby … Continue reading “TraceLink Bags $93M, Plans A.I. & Blockchain Tools for Drug Tracking”
Facebook, NYU Pin Hope of Faster MRIs on Artificial Intelligence
The long, sometimes painful wait to complete an MRI may soon be cut down dramatically—and we might have Facebook and its artificial intelligence unit to thank for it. The social media giant announced Monday that it is working with the radiology department at New York University’s School of Medicine to potentially use artificial intelligence software … Continue reading “Facebook, NYU Pin Hope of Faster MRIs on Artificial Intelligence”
Renovia Raises $42M to Back Digital Treatment for Incontinence
Renovia, a company aiming to turn the smartphone into a tool for treating incontinence, has closed $42.3 million in financing as it proceeds with clinical trials. Boston-based Renovia said Tuesday that the new capital consists of $32.2 million in equity funding and $10 million in venture debt. The equity financing, a Series B round of … Continue reading “Renovia Raises $42M to Back Digital Treatment for Incontinence”
Sigilon Taps Bioverativ’s Rogerio Vivaldi for CEO Post
Rogerio Vivaldi has been appointed CEO of Sigilon Therapeutics. Vivaldi comes to the Cambridge, MA, biopharmaceutical company from Sanofi (NYSE: [[ticker:SNY]]) subsidiary Bioverativ, where he was executive vice president and chief global therapeutic operations officer. Former Sigilon CEO Paul Wotton, who the company says stepped away from the chief executive role to manage a family … Continue reading “Sigilon Taps Bioverativ’s Rogerio Vivaldi for CEO Post”
Entasis Therapeutics and Principia Biopharma Join the IPO Queue
IPO activity has waned in the dog days of summer, but two more biotechs have now joined the growing list of companies with Wall Street ambitions. Entasis Therapeutics and Principia Biopharma have filed to go public, hoping to raise the cash needed to finance more clinical tests of their experimental drugs. Entasis and Principia each … Continue reading “Entasis Therapeutics and Principia Biopharma Join the IPO Queue”
Acquia’s New CEO Eyes Acquisitions, Not an Exit (Yet)
Acquia is known for software that helps businesses manage content on their websites. But these days, the 11-year-old company describes itself as a builder of “digital experiences,” a nod to the ever-expanding list of technological vehicles through which brands market their products—think mobile apps, social media, voice-controlled devices, and augmented and virtual reality experiences. “There’s … Continue reading “Acquia’s New CEO Eyes Acquisitions, Not an Exit (Yet)”
Rare-Disease Hackathon Leads to $3M for Health Data Startup RDMD
When tech entrepreneur Onno Faber learned he had an extremely rare genetic disease with no available treatments, he leaned on his tech skills and organized a Silicon Valley “hackathon” in 2017 to dig into his own DNA and perhaps help others with his condition. Faber can now lean on a few million dollars. The company … Continue reading “Rare-Disease Hackathon Leads to $3M for Health Data Startup RDMD”
Would Uber’s IPO Be a Revival or a Reckoning?
In its early years, Uber was a headstrong force knocking down preconceived ideas about transportation and, along with Lyft, sparking the imaginations of countless entrepreneurs who are now building a new industry called “mobility.” As it closes in on its first decade, Uber is a conundrum: A Silicon Valley unicorn with $7.3 billion in cash, … Continue reading “Would Uber’s IPO Be a Revival or a Reckoning?”
Bristol Nabs Immunotherapy’s First FDA Nod for Small Cell Lung Cancer
Over the past few years, immunotherapy has rapidly begun to change how lung cancer is treated. But it hasn’t been an option for patients with a particularly aggressive form of the disease, small cell lung cancer (SCLC), until today. The FDA on Friday approved Bristol-Myers Squibb’s (NYSE: [[ticker:BMY]]) immunotherapy, nivolumab (Opdivo), for SCLC patients who … Continue reading “Bristol Nabs Immunotherapy’s First FDA Nod for Small Cell Lung Cancer”
Bio Roundup: Big Approvals, ICER Influence, Drug-Price Pushback & More
[Updated 8/17/18, 10:21 a.m. See below.] We’ll start the roundup this week with two drug approvals that came late last Friday. Both were landmarks for the companies receiving the nod, Alnylam Pharmaceuticals and Amicus Therapeutics. We also saw a new biotech emerge in the muggy New York heat, a couple deals for new flu vaccines, … Continue reading “Bio Roundup: Big Approvals, ICER Influence, Drug-Price Pushback & More”
Boston’s Life Science Disruptors 2018
Innovation is moving fast in biotech, and look no further than some of Boston’s latest emerging companies for proof. Beam Therapeutics, for instance, is taking CRISPR gene editing to the next level. Celsius Therapeutics is using machine learning algorithms to drill down into the genomic blueprint of single cells in search of a better understanding … Continue reading “Boston’s Life Science Disruptors 2018”
DoorDash Valued at $4 Billion After Adding $250M in New Funding
DoorDash has upped its valuation to $4 billion with a new $250 million financing round, five months after it raised $535 million to gain its “unicorn” status. The new $250 million funding round was co-led by Coatue Management and DST Global. CEO Tony Xu told Axios’s Dan Primack that the company hadn’t been actively seeking … Continue reading “DoorDash Valued at $4 Billion After Adding $250M in New Funding”
Infinity Pharma Appoints Samuel Agresta Chief Medical Officer
Samuel Agresta has been appointed chief medical officer of Cambridge, MA-based Infinity Pharmaceuticals (NASDAQ: [[ticker:INFI]]). Agresta comes to Infinity from Agios Pharmaceuticals (NASDAQ: [[ticker:AGIO]]), where he was vice president and head of clinical development. Before Agios, Agresta held posts at Merrimack Pharmaceuticals (NASDAQ: [[ticker:MACK]]) and Genentech. Following a corporate restructuring last year, Infinity turned its … Continue reading “Infinity Pharma Appoints Samuel Agresta Chief Medical Officer”
MassChallenge Awards $510K to Eight Startups in Texas Accelerator
Austin—[Updated 2:11 p.m. See below.] MassChallenge gave out $510,000 in cash to eight startups Wednesday, including to six early stage companies from Texas. During an award ceremony in Austin, two hometown companies won $100,000 each, the top awards of the night. Environmental Quality Operations, or EQO, has developed a bioengineered diagnostic technology to “detect, monitor, … Continue reading “MassChallenge Awards $510K to Eight Startups in Texas Accelerator”
With BioNTech Deal, Pfizer Becomes Latest to Bet on mRNA Vaccines
Pfizer has become the latest drug maker to bet that synthetic messenger RNA molecules (mRNA) can be a new source for vaccines. This morning, the New York pharma company cut a deal with BioNTech, of Germany, to co-develop mRNA vaccines for flu prevention. BioNTech will run the initial human tests on these treatments, then hand … Continue reading “With BioNTech Deal, Pfizer Becomes Latest to Bet on mRNA Vaccines”
Tech Hiring Surges in Bay Area, NY, Boston: See Q2’s Top Employers
After a sluggish start to 2018, hiring has accelerated recently at the top software companies in three of America’s largest technology hubs. That’s according to the latest quarterly Digital Jobs Index compiled by John Barrett, a Boston-area partner with executive recruiting firm On Partners. The report tracks job growth at 100 leading software and Internet … Continue reading “Tech Hiring Surges in Bay Area, NY, Boston: See Q2’s Top Employers”
Best Buy Acquires GTCR’s GreatCall for $800M, Eyeing Aging Boomers
Best Buy is paying $800 million in cash for GreatCall, a San Diego-based healthtech company which private equity firm GTCR bought early last year. GreatCall operates a virtual mobile telecommunications network for a customer base of more than 900,000 elderly consumers. The company also sells gadgets, such as mobile devices with large screens and big … Continue reading “Best Buy Acquires GTCR’s GreatCall for $800M, Eyeing Aging Boomers”
Dating App Bumble Creates Fund to Invest in Diverse Female Founders
Austin—Bumble, the dating app maker that has expanded into other areas of social networking, has launched an investment fund focused on startups founded by women. The Bumble Fund plans to make early stage investments that focus on diverse female founders “who have been largely ignored by the established venture capital world,” according to news release … Continue reading “Dating App Bumble Creates Fund to Invest in Diverse Female Founders”
ICER, CRISPR, Biotech Activism & More: The X of the Year Finalists
With so many stellar Xconomy Award nominees this year, we wanted to recognize several who don’t fit neatly into the other categories, so we’ve created categories just for them. One of these nominees for X of the Year is gaining influence in the drug industry with its evaluations of drug cost effectiveness. Two more been … Continue reading “ICER, CRISPR, Biotech Activism & More: The X of the Year Finalists”
Fidelity Vets Launch Castle Island Ventures, a $30M Blockchain Fund
There’s a new venture fund in town, focused on the hypiest of hyped sectors right now: blockchain systems and cryptocurrencies. It’s a small fund, but what’s interesting about Castle Island Ventures is the pedigree of the Boston firm’s founders and the careful approach they’re taking. In an exclusive interview, co-founder and partner Matt Walsh says … Continue reading “Fidelity Vets Launch Castle Island Ventures, a $30M Blockchain Fund”
Karuna Names Former Voyager, Lilly Exec Steven Paul New CEO
Former Voyager Therapeutics (NASDAQ: [[ticker:VYGR]]) CEO Steven Paul has been tapped to run Boston-based Karuna Pharmaceuticals, a PureTech Health company that just raised $42 million this month. Karuna is developing a combination schizophrenia treatment that includes xanomeline, a drug it licensed from Eli Lilly (NYSE: [[ticker:LLY]]), where Paul was once head of R&D.
To Avoid Trouble, Companies Must Support Harassed Employees First
When news breaks about sexual harassment at a company like Uber, the public is likely to believe that the entire business has a cultural problem. In contrast, the same isn’t true for other issues, such as financial misconduct, which the public tends to see as a “bad apple” situation. That’s according to a study released … Continue reading “To Avoid Trouble, Companies Must Support Harassed Employees First”
Marketer AdSwerve to Pay $24M for Analytics Pros’ Google Knowhow
Seattle-based Analytics Pros has sold to another Google-focused marketing company, Denver, CO-based AdSwerve, for $24 million in a private equity-backed deal, according to a company spokesman. Boston-based Abry Partners funded the acquisition, and Analytics Pros will “transition” into AdSwerve in January 2019, according to a news release. Founded in 2009, Analytics Pros sells Web and … Continue reading “Marketer AdSwerve to Pay $24M for Analytics Pros’ Google Knowhow”
Exabeam Raises $50M, Says It’s Gaining On Big Rival Splunk
Exabeam, a cybersecurity company that analyzes activity logs and other data generated by computers and devices as it scans for potential threats, announced today that it raised $50 million in a Series D funding round. San Mateo, CA-based Exabeam is one of the newer companies carving out a niche in a cybersecurity sector called SIEM, … Continue reading “Exabeam Raises $50M, Says It’s Gaining On Big Rival Splunk”
Ford’s Autonomic Pairs With Alibaba Cloud On Mobility Hub for China
Ford—one of the automakers competing in China’s huge car market—is now making a bid to provide China’s leading software infrastructure hub dedicated to streamlining transportation by connecting cars and riders with mobility services. Ford’s recently acquired unit Autonomic, which co-created the automaker’s Transportation Mobility Cloud (TMC), inked a deal Tuesday to partner with Alibaba Cloud, … Continue reading “Ford’s Autonomic Pairs With Alibaba Cloud On Mobility Hub for China”
Digital Tools, Online Community & More: Patient Partnership Award Finalists
Patients are supposed to be at the center of medicine, but the sheer size and complexity of the healthcare and life science industries often makes it challenging to maintain focus on patients. The finalists in this year’s Patient Partnership category of the Xconomy Awards are trying to change this, by finding innovative ways to work … Continue reading “Digital Tools, Online Community & More: Patient Partnership Award Finalists”
Fresh Off GSK Deal, Gene Therapy Startup Orchard Bags Another $150M
Another gene therapy startup looks primed for an IPO. Orchard Therapeutics has just landed another $150 million to help drive forward a group of gene therapies it bought from British pharma company GlaxoSmithKline earlier this year. The Series C funding round from Deerfield Management, RA Capital Management, Venrock, and others, includes a number of “crossover” … Continue reading “Fresh Off GSK Deal, Gene Therapy Startup Orchard Bags Another $150M”
Amicus Finally Wins FDA Nod, Will Price Fabry Drug Below Rivals
[Updated, 8/13/18, see below] The FDA has approved a new treatment for Fabry disease, a decision that represents the end of a winding, more than decade-long saga for the drug’s developer, Amicus Therapeutics. Its long journey also highlights how drug approval in the U.S. has changed just in the last two years, thanks to new … Continue reading “Amicus Finally Wins FDA Nod, Will Price Fabry Drug Below Rivals”
Alnylam Gets Landmark FDA OK For First-Ever RNAi Drug
[Updated at 4:08 pm ET, see below] Alnylam Pharmaceuticals made history this afternoon. The FDA has just approved Alnylam’s patisiran (Onpattro), making it the first medicine specifically cleared to treat a rare and deadly disease called hereditary transthyretin amyloidosis (hATTR). The decision is a scientific milestone too: it marks the first-ever approval for a medicine … Continue reading “Alnylam Gets Landmark FDA OK For First-Ever RNAi Drug”
Bio Roundup: Medicare Drug Prices, FDA Moves, Gene Therapy News & More
Two imminent FDA rulings on two separate drugs aren’t just noteworthy for the patients they’ll help, but the long and winding road their developers have taken to get to this point. First is Alnylam Pharmaceuticals, which has spent 16 years and over $2 billion to try to bring an unproven form of medicine, RNA interference … Continue reading “Bio Roundup: Medicare Drug Prices, FDA Moves, Gene Therapy News & More”
Boston Tech Watch: Drizly, Skyworks, Polaris, Akili, Kebotix & More
[Updated 8/10/18, 1:33 pm. See below.] Time to catch up on some of the latest deals and developments in the Boston-area tech sector: —Skyworks Solutions (NASDAQ: [[ticker:SWKS]]), the Woburn, MA-based chipmaker, said it inked a deal to acquire Avnera, a Beaverton, OR-based maker of semiconductors designed to minimize power consumption and enable voice-controlled devices and … Continue reading “Boston Tech Watch: Drizly, Skyworks, Polaris, Akili, Kebotix & More”
Austin Group Joins Other Tech Efforts to Promote Responsible AI Use
Artificial intelligence is poised to infiltrate nearly all aspects of human life. Given this development, technologists are focusing on how to ensure the technology usage is governed by ethics. “The general rule is that power begets responsibility,” says Michael Stewart, founder and CEO of Lucid AI, an AI startup in Austin. “If you’re bringing in a … Continue reading “Austin Group Joins Other Tech Efforts to Promote Responsible AI Use”
Lack of Diversity Isn’t a “Pipeline Problem,” It’s a Network Problem
Recently, I was in Chicago for Paradigm IQ’s D&I Lab: Data-Driven Strategies to Attract & Hire Diverse Talent, a one-day workshop designed to equip attendees with new strategies for designing an inclusive organization. In a room full of people with titles like chief people officer, director of diversity and inclusion, and director of leadership and organizational … Continue reading “Lack of Diversity Isn’t a “Pipeline Problem,” It’s a Network Problem”
Millendo Therapeutics Goes Public With OvaScience Reverse Merger
[Corrected 2:30 p.m. See below.] Millendo Therapeutics, an Ann Arbor, MI-based biotech company developing drugs to treat endocrine diseases, is now a public company and has $30 million of new cash to continue work on its treatments for rare disorders. Millendo announced this morning that it plans to merge with OvaScience (Nasdaq: [[ticker:OVAS]]), which was … Continue reading “Millendo Therapeutics Goes Public With OvaScience Reverse Merger”
Inclusion in Labs, the C-Suite & More: Xconomy Awards Diversity Finalists
[Updated 8/20/18, 4:47 p.m. See below.] Efforts to boost diversity and inclusion at life science organizations are themselves becoming more diverse. A growing number of biotech companies are adjusting their recruitment and hiring practices to ensure that their employee rosters—from the lab to the boardroom—better reflect the diversity of society. But recruitment is just one … Continue reading “Inclusion in Labs, the C-Suite & More: Xconomy Awards Diversity Finalists”
Inari Agriculture Harvests $40M to Ramp Up Gene Editing R&D
Less than one month after emerging from stealth, ag biotech startup Inari Agriculture is unveiling $40 million in capital to accelerate its work on gene-editing for crop breeding. The Series B round of financing for Cambridge, MA-based Inari adds Acre Venture Partners and Alexandria Venture Investments as investors. Inari was founded in 2016 by venture … Continue reading “Inari Agriculture Harvests $40M to Ramp Up Gene Editing R&D”
Domino Data Lab Raises $40M To Manage Clients’ Predictive Models
[Updated 8/8/18, 4:40 pm. See below.] Domino Data Lab, which provides a test bed to aid in the development of predictive models, as well as tools to monitor models in use, announced today it has raised $40 million to grow its data science services and build partnerships. San Francisco-based Domino is an evangelist for the use … Continue reading “Domino Data Lab Raises $40M To Manage Clients’ Predictive Models”
Yesware Hauls In $15M and Replaces Founding CEO
It’s the end of an era for Yesware, an eight-year-old maker of e-mail software for salespeople. The Boston-based startup announced Wednesday that it brought in $15 million in venture capital, but the bigger news is that co-founder and CEO Matthew Bellows will be replaced by chief operating officer Joel Stevenson. Stevenson joined Yesware in March … Continue reading “Yesware Hauls In $15M and Replaces Founding CEO”
Paratek Eyes FDA Approval of Antibiotic After Advisory Panel Nod
An FDA advisory committee voted to recommend U.S. approval of Paratek Pharmaceuticals’ experimental antibiotic, omadacycline, both for the treatment of certain types of bacterial skin infections and hospital-acquired pneumonia. The independent advisory panel’s endorsement isn’t binding, but the FDA often follows the guidance of such committees. The FDA’s decision is expected in early October, Boston-based … Continue reading “Paratek Eyes FDA Approval of Antibiotic After Advisory Panel Nod”
CVS, Teladoc Offering $59 Virtual Health Visits for Minor Conditions
CVS Health on Wednesday introduced a new telemedicine service for people with minor illnesses and injuries, which the Rhode Island-based pharmacy giant says will allow patients in nine U.S. states and Washington, D.C., to pay $59 for an online videoconference with a licensed healthcare professional. CVS (NYSE: [[ticker:CVS]]), which bestrides the healthcare and retail industries, … Continue reading “CVS, Teladoc Offering $59 Virtual Health Visits for Minor Conditions”
SQZ Biotech Adds $72M as Cell Therapy Investment Keeps Burning Hot
SQZ Biotechnologies has landed its largest venture capital round yet: a $72 million Series C financing that the Watertown, MA-based company hopes can bring some of its experimental cell therapies into the clinic. SQZ has a technology that is able to squeeze cells (hence the company’s name) without killing them, enough to allow their membranes … Continue reading “SQZ Biotech Adds $72M as Cell Therapy Investment Keeps Burning Hot”
Creating Companies Before 35: Meet the Young Innovator Award Finalists
Entrepreneur, scientist, doctor, startup founder, CEO, and in some cases, all of the above. This year’s Young Innovator award finalists—all 35 and under—have shown that they can do it all to try to translate an idea into new treatments or digital tools for patients and healthcare providers. Here’s more on the finalists. The winner will … Continue reading “Creating Companies Before 35: Meet the Young Innovator Award Finalists”
With Big Takeda Deal at Launch, Can Ambys Keep Control of Its Future?
A new biotech has debuted today aiming to make a variety of treatments for deadly liver diseases. The startup, Ambys Medicines, has formed an unusual, broad alliance with Takeda. Some early, wide-ranging partnerships between new biotechs and Big Pharma have fallen apart in the past and have been too limiting for the biotech, but Ambys’s … Continue reading “With Big Takeda Deal at Launch, Can Ambys Keep Control of Its Future?”
Another $100M Boosts Valuation of Boston’s Actifio to $1.3B
[Updated 8/21/18, 2:13 pm. See below.] Actifio, a Waltham, MA-based data management startup that for years downplayed its development despite being worth hundreds of millions of dollars, has added another $100 million round of funding that brings its valuation to more than $1.3 billion, the company announced today. The investment included nearly $59 million in … Continue reading “Another $100M Boosts Valuation of Boston’s Actifio to $1.3B”
Digital Alloys Adds $12.9M From VCs, Boeing for Metal 3D Printing
Metal-making 3D printer company Digital Alloys has raised a $12.9 million Series B round of funding from venture investors and businesses that hope to benefit from the company’s manufacturing technology. The new investment was led by G20 Ventures, while Boeing HorizonX Ventures, Lincoln Electric, and Khosla Ventures also participated. (Khosla led Digital Alloys’ $5 million … Continue reading “Digital Alloys Adds $12.9M From VCs, Boeing for Metal 3D Printing”
New Faces, Big Impact: Meet the Finalists For Xconomy’s Newcomer Award
Being a newcomer can mean a few different things: being new to the area (or newly back after being away) or new to an industry. The finalists for Xconomy’s Newcomer Award this year cover these definitions. One is a serial biotech entrepreneur who has now made an impact in multiple cities, most recently Boston. Another … Continue reading “New Faces, Big Impact: Meet the Finalists For Xconomy’s Newcomer Award”
Salsify Grabs $43M to Help Brands Navigate Amazon & E-Commerce
In the online shopping age, it can be difficult for businesses to keep all of their product information updated and relevant to potential customers. Boston-based startup Salsify has spent several years helping brands manage their product content across Amazon (NASDAQ: [[ticker:AMZN]]), Google (NASDAQ: [[ticker:GOOGL]]) ads, the websites of brick-and-mortar retailers, and other digital marketplaces. Salsify … Continue reading “Salsify Grabs $43M to Help Brands Navigate Amazon & E-Commerce”
Now Hear This: Akouos Secures $50M for Hearing Loss Gene Therapy R&D
Hearing loss for many people is hereditary—a mutation in a single gene impairs hearing from birth. There are no approved drugs for this type of hearing loss, but biotech startup Akouos is developing a gene therapy to help patients recover the ability to hear. Boston-based Akouos says it has secured a $50 million financial commitment … Continue reading “Now Hear This: Akouos Secures $50M for Hearing Loss Gene Therapy R&D”
Pfizer’s May Orfali Joins CANbridge as Chief Medical Officer
May Orfali has been appointed chief medical officer of CANbridge Life Sciences. She will replace Mark Goldberg, who was serving as interim chief medical officer. CANbridge, which is based in Beijing, China, and has additional sites in Shanghai and Cambridge, MA, takes Western drug candidates and develops them for the markets in China, Korea, and … Continue reading “Pfizer’s May Orfali Joins CANbridge as Chief Medical Officer”