Rubius Therapeutics has joined the parade of biotech companies going public, raising a whopping $241.1 million to support its approach of engineering red blood cells into off-the-shelf treatments for disease. Late Tuesday night, Cambridge, MA-based Rubius priced its offering of 10.4 million shares at $23 apiece. The company had initially planned to sell 9.5 million … Continue reading “Rubius Upsizes IPO and Hauls in $241M for Red Blood Cell Therapies”
Category: Boston
Introducing the 2018 Innovation at the Intersection Award Finalists
From artificial intelligence (A.I.) to materials science, this year’s Xconomy Awards finalists in the Innovation at the Intersection category are bringing a variety of disciplines outside of biology to bear on tough problems in life science. The hope is that advanced algorithms, novel biomaterials, and digital technologies will make drug discovery more efficient, cancer immunotherapies … Continue reading “Introducing the 2018 Innovation at the Intersection Award Finalists”
Inari Agriculture Sprouts with Plans to Gene Edit “Personalized Seeds”
The seeds farmers plant in their fields can carry certain desirable traits, such as drought tolerance or pest resistance. Breeding or genetic engineering can produce such traits, but ag biotech startup Inari Agriculture aims to take trait development to a new level—customizing seeds to grow best in the soil and weather at the farm where … Continue reading “Inari Agriculture Sprouts with Plans to Gene Edit “Personalized Seeds””
Edge Computing Software Startup Swim.ai Scores $10M from VCs, Arm
Swim.ai, a startup developing advanced analytics software that can process data in devices at the edge of a network—such as industrial turbines or self-driving cars—announced today it raised $10 million in a Series B funding round. The San Jose, CA-based company is part of the emerging movement toward “edge computing,” or adapting devices to handle … Continue reading “Edge Computing Software Startup Swim.ai Scores $10M from VCs, Arm”
Walmart, Microsoft Deepen Partnership as Both Grapple With Amazon
The enemy of my enemy is my friend—even in the retail and cloud computing businesses. So says retail giant Walmart (NYSE: [[ticker:WMT]]) as it announced this morning a five-year partnership with Microsoft (NASDAQ: [[ticker:MSFT]]) to use machine learning and other technologies, deepening an existing partnership between two of Amazon’s biggest rivals. “Whether it’s combined with our … Continue reading “Walmart, Microsoft Deepen Partnership as Both Grapple With Amazon”
New Ethics Code Urges Tech Firms and Coders To Avoid Harming Society
Selling a new Web-connected thermostat or other wired gizmo to consumers without a plan to deliver the necessary security patches is not only bad business—it’s unethical. So is failing to challenge a law or tech company rule that governs work on technology products, if that rule causes unjustifiable harms to people or the environment. Those … Continue reading “New Ethics Code Urges Tech Firms and Coders To Avoid Harming Society”
Security Firm ObserveIT Grabs $33M to Get Ahead of Insider Threats
Cyber breaches caused by people within businesses and organizations, both accidental and malicious leaks, continue to multiply. Now, a Boston security startup is arming itself with more cash and enhanced technology to try and stop these insider threats. ObserveIT announced today it closed a $33 million Series B funding round from Bain Capital Ventures, Spring … Continue reading “Security Firm ObserveIT Grabs $33M to Get Ahead of Insider Threats”
City of Detroit Tests Real-World Mobility with Innovation Initiative
Michigan’s government and business leaders have worked diligently over the past few years to position the state that put the world on wheels to be major player in the development of self-driving cars. (According to a June 25 opinion piece in Forbes, Michigan has become “the Silicon Valley of mobility.”) The city of Detroit is … Continue reading “City of Detroit Tests Real-World Mobility with Innovation Initiative”
With $45M, HotSpot Takes Drug Research to New Biological Real Estate
In real estate, location is key. The same holds true in the hunt for new drugs. HotSpot Therapeutics is trying to break new ground in drug discovery by hitting locations on a protein that aren’t the conventional targets of most medicines. HotSpot is now emerging from stealth with preclinical compounds that could become new treatments … Continue reading “With $45M, HotSpot Takes Drug Research to New Biological Real Estate”
Ex-HubSpot CMO Volpe to Lead Lola, Founder Paul English Is Now CTO
[Updated 7/17/18, 11:53 am, with comments from English and Volpe. See below.] Lola, the business travel software startup led by Kayak co-founder Paul English, has brought on a new chief executive: Mike Volpe, the former chief marketing officer at both HubSpot and Cybereason. English will relinquish his CEO title to serve as Lola’s chief technology … Continue reading “Ex-HubSpot CMO Volpe to Lead Lola, Founder Paul English Is Now CTO”
New Study Shows CRISPR Can Delete Big Chunks of DNA
[Updated 7/16/18 4:00pm ET, see note below] As CRISPR-based therapeutics inch closer to human tests in the U.S., academic researchers have kept up a steady drum beat about potential risks of the gene editing technique. They recently published two separate papers warning about possible dangers of CRISPR therapies, namely an increased risk of cancer. Both … Continue reading “New Study Shows CRISPR Can Delete Big Chunks of DNA”
Pliant Picks Up $62M to Test Lung, Liver Fibrosis Drug in the Clinic
The cause of fibrosis, the hardening and thickening of connective tissue in organs, isn’t known and it has few treatments. Pliant Therapeutics aims to bring patients who have this chronic and life-threatening condition in the lungs or the liver a new treatment option—and it now has $62 million to test its lead drug in humans. … Continue reading “Pliant Picks Up $62M to Test Lung, Liver Fibrosis Drug in the Clinic”
With New Data, Amgen Tries Again for FDA OK of Osteoporosis Drug
More than a year after the FDA rejected Amgen’s experimental osteoporosis drug due to safety concerns, the Thousand Oaks, CA, company has teed up a new application. The Amgen (NASDAQ: [[ticker:AMGN]]) drug, romosozumab (Evenity), is an antibody treatment meant to strengthen bones and reduce the chance that they could break. But while romosozumab did lower … Continue reading “With New Data, Amgen Tries Again for FDA OK of Osteoporosis Drug”
Best Friday Reads: Social Media Rules Us All, and Mints Billionaires
Humans have had a drastic physical evolution recently—one that has notably taken only a few years. While the evolution from hunched primates to homo sapiens took tens of millions of years, we needed only about a decade to develop an arched neck that is perennially looking down at a smartphone—presumably one with a social media … Continue reading “Best Friday Reads: Social Media Rules Us All, and Mints Billionaires”
Boston Tech Watch: Autodesk, DataRobot, Starry, Perceptive Automata
It’s time to catch up on Boston tech headlines. This week, we’re tracking acquisitions by Autodesk and DataRobot, a $100 million investment in upstart wireless Internet provider Starry, a new startup from Runkeeper co-founder Jason Jacobs, details about a stealthy autonomous vehicle software company, the first venture capital investment in Yuchun Lee’s Allego, and more … Continue reading “Boston Tech Watch: Autodesk, DataRobot, Starry, Perceptive Automata”
Bio Roundup: Pfizer’s Prices, Novartis Cuts, Gene Therapy Guide & More
Drug price changes typically happen either at the start of the calendar year or the beginning of the third quarter. Such changes are routine for many companies, but Pfizer took an unusual step this week by rolling back scheduled price increases on 40 of its drugs. The change of plan happened after Pfizer (NYSE: [[ticker:PFE]]) … Continue reading “Bio Roundup: Pfizer’s Prices, Novartis Cuts, Gene Therapy Guide & More”
Broadcom Eyes CA Technologies for $19B After Trump Axed Qualcomm Bid
Semiconductor maker Broadcom, which ended its effort to buy competitor Qualcomm earlier this year, has a new target: New York-based business software maker CA Technologies. The pair announced Wednesday that Broadcom (NASDAQ: [[ticker:AVGO]]), which moved its headquarters from Singapore to San Jose, CA, earlier this year, plans to pay $18.9 billion in cash for CA … Continue reading “Broadcom Eyes CA Technologies for $19B After Trump Axed Qualcomm Bid”
With $112M Fund, Glasswing Looks to Drive East Coast A.I. Startups
In a sea of emerging tech venture funds, Glasswing Ventures is trying to stand out. The Boston firm announced today it has closed its debut investment fund at $112 million. That’s bigger than the “micro-VC” funds of the past decade, but much smaller than the mega-funds (often in the billion-dollar range) that have been raised … Continue reading “With $112M Fund, Glasswing Looks to Drive East Coast A.I. Startups”
E-Retail Startup Pointy Raises $12M, Helps Small Shops Be Found Online
Mark Cummins wondered why online search engines could help you locate a landmark halfway around the world in a second but couldn’t tell him whether the corner store had a craft beer he liked. That’s what led him to co-found Pointy, which makes a hardware device that enables small retailers to easily upload inventory onto … Continue reading “E-Retail Startup Pointy Raises $12M, Helps Small Shops Be Found Online”
Penrose Studios Raises $10M To Elevate AR/VR Storytelling
Penrose Studios, which has been scoring film festival awards for its early productions in virtual reality and augmented reality, announced today it raised $10 million in a Series A fundraising round. Among the new investors backing the San Francisco studio are Salesforce founder and CEO Marc Benioff and technology advocate will.i.am, a Grammy award winner … Continue reading “Penrose Studios Raises $10M To Elevate AR/VR Storytelling”
EU Regulators Approve Akcea’s Inotersen. FDA Decisions Are Next.
Akcea Therapeutics (NASDAQ: [[ticker:AKCA]]) has beaten rival Alnylam Pharmaceuticals (NASDAQ: [[ticker:ALNY]]) to a first drug approval, getting the nod for its drug inotersen (Tegsedi) in the European Union. Akcea and Alnylam, both of Cambridge, MA, are developing treatments for the rare genetic disease transthyretin amyloidosis, or ATTR. It stems from a gene mutation that causes … Continue reading “EU Regulators Approve Akcea’s Inotersen. FDA Decisions Are Next.”
Otsuka Ramps Up Its Antibody Game with $430M Visterra Acquisition
Otsuka Pharmaceutical is expanding its pipeline and U.S. reach with an agreement to acquire Waltham, MA, clinical-stage drug developer Visterra for $430 million in cash. The deal, announced Wednesday, comes nine months after Visterra closed a $46.7 million Series C round to finance clinical development of its antibody drug programs. That financing followed Visterra’s attempt … Continue reading “Otsuka Ramps Up Its Antibody Game with $430M Visterra Acquisition”
Samsung, Google Back Tamr as Big Data Startups Try to Find Their Way
[Updated 7/11/18, 12:01 pm. See below.] Businesses have sunk a lot of money into software tools to analyze the reams of data they’re generating, in search of insights that might help them increase sales or cut costs. But analytics tools don’t work effectively unless the data can be easily retrieved from a company’s disparate systems … Continue reading “Samsung, Google Back Tamr as Big Data Startups Try to Find Their Way”
BioCryst Drops Idera Pharma Merger After Shareholders Veto Deal
BioCryst Pharmaceuticals is ending a plan to merge with Idera Pharmaceuticals and form a single company focused on rare diseases. Durham, NC-based BioCryst (NASDAQ: [[ticker:BCRX]]) terminated the merger agreement on Tuesday following a meeting that saw shareholders vote overwhelmingly against the proposal. Of the more than 80 million shares represented in the vote, 50.6 million … Continue reading “BioCryst Drops Idera Pharma Merger After Shareholders Veto Deal”
Acceleron Pharma Appoints Robert Zeldin Chief Medical Officer
Robert Zeldin has been appointed chief medical officer of Cambridge, MA, drug developer Acceleron Pharma (NASDAQ: [[ticker:XLRN]]). Zeldin joins Acceleron from Belgium-based Ablynx, where he was chief medical officer. Zeldin’s appointment comes as Acceleron and partner Celgene (NASDAQ: [[ticker:CELG]]) prepare to file for FDA approval of the drug luspatercept. The companies have released positive results … Continue reading “Acceleron Pharma Appoints Robert Zeldin Chief Medical Officer”
Hype―and Skepticism―Remains for Dell’s Return to the Public Market
Austin—The possibility that Dell might return to the public markets has been talked about for months, if not longer. It became more realistic in February, when the Round Rock, TX-based company told securities regulators it was considering a public offering or a reverse merger with VMware, the publicly traded company of which Dell owns 81 … Continue reading “Hype―and Skepticism―Remains for Dell’s Return to the Public Market”
Toast Cooks Up $115M Round, Claims “Unicorn” Status
Restaurant technology startup Toast has pulled in $115 million in a Series D venture funding round that the company says gives it a valuation of $1.4 billion. That makes it Boston’s newest “unicorn”—a privately held company valued at more than $1 billion by its investors. Of course, that’s just what the company claims it’s worth … Continue reading “Toast Cooks Up $115M Round, Claims “Unicorn” Status”
Tango, Finch, Indigo & More: The 2018 Xconomy Award Startup Finalists
This year’s bumper crop of Xconomy Award startup finalists cover a wide range of technologies and approaches, from microbiome and gene therapy to regenerative medicine and emerging areas like chromatin biology. Some are early stage, some are already in the clinic and one even has products on the market. Here are brief profiles of the … Continue reading “Tango, Finch, Indigo & More: The 2018 Xconomy Award Startup Finalists”
Scale Venture Partners Closes $400M Fund to Invest in Tech for the Enterprise
Scale Venture Partners announced today it has closed its sixth fund, gaining $400 million in new capital to invest in companies capable of transforming business operations through advanced technologies such as artificial intelligence and robotics. Foster City, CA-based ScaleVP focuses on startups developing Web-based software sold as a subscription to businesses. The VC firm enjoyed … Continue reading “Scale Venture Partners Closes $400M Fund to Invest in Tech for the Enterprise”
Venture Funding Keeps Momentum Amid IPO Wave; Plus Q2’s Top 10 Deals
[Updated 7/12/18, 9:24 am. See below.] Last year, U.S. venture capital investments swelled to a level not seen since the dot-com era of the early 2000s. This year could be even bigger. Investors funneled $57.5 billion into U.S. companies through the first six months of 2018, according to the latest Venture Monitor report produced quarterly … Continue reading “Venture Funding Keeps Momentum Amid IPO Wave; Plus Q2’s Top 10 Deals”
Acceleron, Celgene Drug Shines in Phase 3 Test in Rare Blood Disorder
A drug from Celgene and Acceleron Pharma has met the main goals of a late-stage test as a treatment for a rare blood disorder, the second set of positive results that the partners have released for the drug in as many weeks. The latest announcement covered use of the drug, luspatercept, as a treatment for … Continue reading “Acceleron, Celgene Drug Shines in Phase 3 Test in Rare Blood Disorder”
Derq Teaches Driverless Cars to Safely Navigate Busy Intersections
There are many technical challenges to overcome in the development of self-driving cars, but one of the toughest is predicting and preventing collisions with pedestrians and other objects that end up in the roadway. As urban cyclists know, there is a fair amount of intense eye contact that goes on between bikers and drivers as … Continue reading “Derq Teaches Driverless Cars to Safely Navigate Busy Intersections”
Nimbus Hires Adrian Ray, a 15-Year Gilead Veteran, as New SVP
Nimbus Therapeutics of Cambridge, MA, has hired Adrian Ray as senior vice president of discovery biology as it advances its immunology and oncology pipeline. Ray comes from Gilead Sciences (NASDAQ: [[ticker:GILD]]), where he spent 15 years, most recently as senior director of clinical research. Nimbus and Foster City, CA-based Gilead are familiar with each other. … Continue reading “Nimbus Hires Adrian Ray, a 15-Year Gilead Veteran, as New SVP”
From Robots to Owl Art, a Tour of Autodesk’s BUILD Space: Slideshow
As a tech journalist, most of the stories I write these days deal in algorithms, cloud computing, and other digital tools. When given the opportunity, it’s fun to explore new technologies and products you can actually see and touch. I recently escaped my desk to tour Autodesk’s offices in Boston’s Seaport neighborhood and check out … Continue reading “From Robots to Owl Art, a Tour of Autodesk’s BUILD Space: Slideshow”
Biogen, Eisai Claim Success in New Analysis of Failed Alzheimer’s Study
Biogen and Eisai are reporting encouraging data from a mid-stage study in Alzheimer’s disease, reviving hopes for a drug and an approach to treating the disease that many had declared a failure. The drug, BAN2401, had in fact failed in clinical studies. Last December, Biogen (NASDAQ: [[ticker:BIIB]]) and Eisai reported that the drug did not … Continue reading “Biogen, Eisai Claim Success in New Analysis of Failed Alzheimer’s Study”
Down the Stretch: Akcea, Alnylam Face Reality Checks as FDA Dates Loom
More details from two drug programs up for approval this year to treat a rare genetic disease emerged yesterday, published in side-by-side papers in the New England Journal of Medicine. In one sense, the new papers hold no surprises, but they reinforce the similarities and differences between the closely watched drugs, one from Akcea Therapeutics … Continue reading “Down the Stretch: Akcea, Alnylam Face Reality Checks as FDA Dates Loom”
Bio Roundup: Dunsire’s Danish, Price Hikes, Rare-Disease Race & More
[Corrected, 7/6/18, 1:26 pm. See below.] Xconomy was dumbstruck this week, and not by the fireworks overhead. Our friend and one of our earliest employees, San Diego editor Bruce Bigelow, died suddenly last weekend. Bruce covered everything—and everyone—in San Diego’s innovation scene, including the life sciences. Some of our favorite stories of his sprang from … Continue reading “Bio Roundup: Dunsire’s Danish, Price Hikes, Rare-Disease Race & More”
Boston Scientific Continues M&A Streak with $202M Deal for Cryterion
Boston Scientific is adding on to its heart rhythm management business again, this time with a deal to acquire atrial fibrillation device startup Cryterion Medical for $202 million. The cash payment covers the 65 percent of Cryterion that the Marlborough, MA, medical device giant does not already own. Boston Scientific (NYSE: [[ticker:BSX]]) had been an … Continue reading “Boston Scientific Continues M&A Streak with $202M Deal for Cryterion”
The Empathy Economy: Emotional Intelligence in Customer Service
The “empathy economy” will help define the new reality of human and machine interactions in the customer service industry. A takeoff on the sharing economy, the empathy economy will grow due to brand mania and increased automation in the workplace. Consumers are inundated by brands in their day-to-day lives, and these brands sometimes create personal … Continue reading “The Empathy Economy: Emotional Intelligence in Customer Service”
Priority Changes for Novartis Spell the End for Aveo Pharma Alliance
When Aveo Pharmaceuticals found itself floundering three years ago in the wake of the FDA’s rejection of its lead cancer drug, Novartis threw out a lifeline: a partnership on another Aveo drug that would finance its development. Now Novartis is pulling that support away. Novartis (NYSE: [[ticker:NVS]]) is ending the partnership on the compound AV-380, … Continue reading “Priority Changes for Novartis Spell the End for Aveo Pharma Alliance”
Are You a SaaS Startup? Private Equity May Soon Be Coming For You
[Updated 3:16 p.m. See below.] More money than ever is flowing into software companies that offer anything from niche applications to more general cloud storage services, customer relationship tools, and more. So far this year, the amount of venture capital funding invested in these software-as-a-service (SaaS) businesses tops $12 billion, according to data compiled by … Continue reading “Are You a SaaS Startup? Private Equity May Soon Be Coming For You”
Sanofi’s Andre Turenne Is Slated to Become Voyager Therapeutics CEO
Voyager Therapeutics (NASDAQ: [[ticker:VYGR]]) has appointed Andre Turenne to serve as president and CEO of the Cambridge, MA-based gene therapy developer. Turenne will succeed Steven Paul, who is retiring but will remain on Voyager’s board of directors. Turenne comes to Voyager from Sanofi (NYSE: [[ticker:SNY]]), where he was most recently senior vice president, global head, … Continue reading “Sanofi’s Andre Turenne Is Slated to Become Voyager Therapeutics CEO”
Automation Anywhere Scores $250M to Globalize Bot Workforce
Automation Anywhere, which supplies customers with armies of software robots to take over manual tasks such as insurance claims processing, announced today it raised $250 million in a first funding round that set its post-money valuation at $1.8 billion. The San Jose, CA-based company, begun in 2003 by four co-founders who bootstrapped its funding, has … Continue reading “Automation Anywhere Scores $250M to Globalize Bot Workforce”
In Celebration of Bruce Bigelow: Our Memories, His Playlist
[Updated, 7/5/18. See below] Bruce Victor Bigelow, editor of Xconomy San Diego, passed away Friday afternoon, June 29, at the age of 63. He had suddenly fallen ill less than a week earlier, after he returned to San Diego from a hiking trip in Utah. Our initial post about Bruce’s death is here. And the … Continue reading “In Celebration of Bruce Bigelow: Our Memories, His Playlist”
Lundbeck Reaches Across Atlantic, Picks Dunsire for CEO Post
Deborah Dunsire, a veteran of Boston’s biotech scene, is taking off. Specifically, she’s taking the top job at Danish pharma firm Lundbeck, according to an announcement this morning. The move comes only a year after Dunsire said she would lead 30-employee XTuit Pharmaceuticals of Waltham, MA, a preclinical cancer company. At the time, she told … Continue reading “Lundbeck Reaches Across Atlantic, Picks Dunsire for CEO Post”
American Well Raises $290M+ to Go Bigger in Telehealth
American Well appears to be raising a massive venture capital investment. The Boston-based telehealth company disclosed in a new SEC filing that it has pulled in $290.6 million in a new funding round that could reach almost $315 million. A company spokeswoman declined to comment. Regardless of how large the latest investment in American Well … Continue reading “American Well Raises $290M+ to Go Bigger in Telehealth”
Virtual Physical Therapy Firms Reflexion and MindMaze Probe Markets
For most patients—and for many drug developers—healthcare reimbursement policies can present a daunting maze of restrictions and uncertainties. But for some tech companies, those policies can be accelerants that boost the chances that new products will be adopted. That’s the case for Reflexion Health, which benefits from U.S. insurance coverage regulations that create openings for … Continue reading “Virtual Physical Therapy Firms Reflexion and MindMaze Probe Markets”
Cyber Trend: Hackers Love to Steal Data; Now They Might Weaponize It
For years, cyber attackers’ primary aim has been to pilfer sensitive information from businesses and individuals, either to sell it in the dark corners of the Internet, hold it for ransom, or use it themselves for material gain. More recently, efforts to connect all manner of machines to the Internet has led to growing worries … Continue reading “Cyber Trend: Hackers Love to Steal Data; Now They Might Weaponize It”
The Art of Perseverance: Meet Xconomy’s Six CEO Award Finalists
The Xconomy Awards are back, and today we’re kicking things off by taking a look at our first set of finalists—the top Boston biotech CEOs nominated by you, the readers. We’ve gone through all the nominations and come up with six finalists. Some of these CEOs have withstood years of ups and downs to take … Continue reading “The Art of Perseverance: Meet Xconomy’s Six CEO Award Finalists”
Xconomy Mourns the Loss of San Diego Editor Bruce Bigelow
[Updated, 7/5/18. See below] It is with profound sadness that we at Xconomy say goodbye to our longtime friend and editor of Xconomy San Diego, Bruce Bigelow. An outstanding journalist, colleague, and friend, and a fixture of the San Diego innovation scene, Bruce passed away today at age 63 after a brief illness. We are … Continue reading “Xconomy Mourns the Loss of San Diego Editor Bruce Bigelow”