[Updated 6/29/18, 3:38 pm. See below.] More deal-making in home security today: SimpliSafe has sold a majority stake in the company to private equity firm Hellman & Friedman. Terms of the deal weren’t disclosed in a press release. A spokeswoman says Hellman & Friedman “made a majority investment alongside” SimpliSafe management. Founded in 2006, SimpliSafe … Continue reading “SimpliSafe Sold to Private Equity Firm as Home Security Heats Up”
Category: Boston
Best Reads for Casual Friday: Cybersecurity (And Some Amazon, Too)
You’ve made it to Friday—it’s time to take a step back, prepare for a relaxing weekend, and read a few stories about the endless ways in which your personal information can be stolen. OK, maybe it’s better to spin it like this: Here are some of the most interesting reads from this last week on … Continue reading “Best Reads for Casual Friday: Cybersecurity (And Some Amazon, Too)”
Shell Backs Openbay, Ex-Nest Exec’s New Startup & More Boston Deals
[Updated 6/29/18, 9:55 am. See below.] Time to catch up on recent news from the Boston-area tech scene: —Monotony.ai, a stealthy new startup based in Watertown, MA, has raised $2.65 million from investors, according to an SEC filing. The company’s website doesn’t offer any clues about what it’s working on, but the new venture is … Continue reading “Shell Backs Openbay, Ex-Nest Exec’s New Startup & More Boston Deals”
Bio Roundup: Big Bucks For Calico, Data Dumps & The IPO Wave Rolls On
If you’re running a privately held biotech, the time to go public is now. Clinical data already in hand or not, biotechs have charged to Wall Street at a record pace over the past two weeks, raising more than $1 billion in offerings that all met or exceeded their projected valuations. And there are no … Continue reading “Bio Roundup: Big Bucks For Calico, Data Dumps & The IPO Wave Rolls On”
Acceleron’s Blood Drug Hits Phase 3 Goals, Paves Way for FDA Filing
An experimental Acceleron drug for a blood disorder has hit the main goals of a pivotal study, and the company and partner Celgene say they now plan to file for FDA approval next year. The Acceleron (NASDAQ: [[ticker:XLRN]]) drug, luspatercept, is being tested as a treatment for myelodysplastic syndrome (MDS), a type of cancer characterized … Continue reading “Acceleron’s Blood Drug Hits Phase 3 Goals, Paves Way for FDA Filing”
SutroVax’s Alan Kimura Joins Enzyvant as Chief Medical Officer
Alan Kimura has been appointed chief medical officer of Cambridge, MA-based Enzyvant. Before joining Enzyvant, Kimura was chief medical officer of Foster City, CA-based SutroVax. His experience also includes posts at Shire (NASDAQ:[[ticker:SHPG]]), Novartis Vaccines, and Translate Bio (NASDAQ: [[ticker:TBIO]]). Enzyvant is the rare disease subsidiary of Switzerland-based Roivant Sciences. The company is preparing to … Continue reading “SutroVax’s Alan Kimura Joins Enzyvant as Chief Medical Officer”
Deciphera Pharma Appoints Stephen Ruddy Chief Technical Officer
Stephen Ruddy has been appointed chief technical officer of Waltham, MA-based Deciphera Pharmaceuticals (NASDAQ: [[ticker:DCPH]]). Before joining Deciphera, Ruddy was vice president of pharmaceutical development at Tesaro (NASDAQ: [[ticker:TSRO]]), also based in Waltham. Last year, Deciphera raised $128 million in an IPO to finance clinical testing of its cancer drug DCC-2618 in patients who have … Continue reading “Deciphera Pharma Appoints Stephen Ruddy Chief Technical Officer”
EverQuote Founders Talk IPO Fever, Journey from Biotech to Insurance
When I got on the phone Thursday with the leaders of EverQuote, Boston’s newest publicly traded tech company, I expected them to grumble about how I cast their venture as a “company you’ve never heard of” in yesterday’s story about its IPO. On the contrary, EverQuote CEO and co-founder Seth Birnbaum agreed with me. The … Continue reading “EverQuote Founders Talk IPO Fever, Journey from Biotech to Insurance”
Amazon Acquiring Online Pharmacy PillPack, Eyes Prescription Drug Market
It’s Amazon, not Walmart, that’s buying online pharmacy PillPack. The companies announced the deal Thursday morning but didn’t disclose any financial terms. The acquisition is expected to close in the second half of 2018. Back in April, Walmart was in serious talks to acquire PillPack. Those talks apparently broke down, and it’s no surprise that … Continue reading “Amazon Acquiring Online Pharmacy PillPack, Eyes Prescription Drug Market”
IPO Wave Rolls On as Five Life Science Firms Haul In $651M
A week after seven biotechs went public, setting a new record for the Nasdaq, five more life sciences companies have joined the club. The latest crop continued the positive momentum for life sciences offerings, as the group either met or exceeded their projections and raised a total of $651 million. Neon Therapeutics (NASDAQ: [[ticker:NTGN]]) was … Continue reading “IPO Wave Rolls On as Five Life Science Firms Haul In $651M”
Akebia Merges With Keryx as Anemia Drug Race Nears Finish Line
The race to treat anemia with a pill, not an injectable biologic, just took a new turn. Akebia Therapeutics (NASDAQ: [[ticker:AKBA]]), which is battling with FibroGen (NASDAQ: [[ticker:FGEN]]) to bring an anemia pill to market, has just announced plans to merge with kidney drug disease developer Keryx Pharmaceuticals (NASDAQ: [[ticker:KERX]]) in an all-stock deal that … Continue reading “Akebia Merges With Keryx as Anemia Drug Race Nears Finish Line”
The 2018 Xconomy Awards Finalists Are…
[Updated 6/28/18 5:20pm ET; see note below] There was discussion. There was debate. After much wrangling, the editors and judges have narrowed down the impressive list of nearly 300 nominees for the 2018 Xconomy Awards to an all-star group of 64 finalists in 11 categories. There is no doubt that the overall caliber of the … Continue reading “The 2018 Xconomy Awards Finalists Are…”
BitSight Picks Up $60M to Fend Off Rivals in Cybersecurity Ratings
BitSight Technologies is restocking its war chest to try and win the emerging market for cybersecurity ratings. Today the Cambridge, MA-based tech company announced it raised $60 million in a Series D funding round led by Warburg Pincus, the global private equity firm that has backed the likes of CrowdStrike in cybersecurity, DBRS in credit … Continue reading “BitSight Picks Up $60M to Fend Off Rivals in Cybersecurity Ratings”
EverQuote, a Boston Tech Company You’ve Never Heard of, Going Public
The name EverQuote may not ring a bell for you, although chances are you’ve seen one of its online ads about “disrupting” the insurance industry. The company, which operates an online marketplace for auto, home, and life insurance, has mostly flown under the radar on its way to reaching $120 million-plus in annual revenue and … Continue reading “EverQuote, a Boston Tech Company You’ve Never Heard of, Going Public”
Precision Bio Lands $110M as Gene-Edited Cell Therapy Nears Clinic
While CRISPR has grabbed the lion’s share of gene-editing headlines, Precision BioSciences has used its own gene-editing technology to quietly build a pipeline of products for both agriculture and human health. The Durham, NC company is now preparing to start testing a gene-edited cell therapy for cancer in humans and it has raised $110 million … Continue reading “Precision Bio Lands $110M as Gene-Edited Cell Therapy Nears Clinic”
Summit Therapeutics Ditches Duchenne Drug In Wake of Phase 2 Failure
An experimental treatment for Duchenne muscular dystrophy has failed a mid-stage study, and Summit Therapeutics said Wednesday it is now stopping work on the drug. Summit shares plunged nearly 80 percent on the news. Duchenne is an inherited disorder found mainly in boys that causes progressive muscle weakness. The Summit (NASDAQ: [[ticker:SMMT]]) drug, ezutromid, was … Continue reading “Summit Therapeutics Ditches Duchenne Drug In Wake of Phase 2 Failure”
AstraZeneca’s PARP Drug Is First to Help New Ovarian Cancer Patients
Over the past few years, a new class of drugs known as “PARP” inhibitors has begun to change how ovarian cancer is treated. Data released by AstraZeneca and partner Merck this morning, from a Phase 3 study of the drug olaparib (Lynparza), could continue the trend. AstraZeneca (NYSE: [[ticker:AZN]]) and Merck (NYSE: [[ticker:MRK]]) said that … Continue reading “AstraZeneca’s PARP Drug Is First to Help New Ovarian Cancer Patients”
Don’t Be Boston 2.0, And Photos From “Bringing Back the Expats”
Be your own biotech cluster, not a Boston redux. Accelerate the momentum that’s already begun, don’t let it fizzle. And above all, be fearless entrepreneurs. You’ll need to be if New York biotech will ever become what its champions hope. Those were just a few lessons ex-New Yorker biopharma veterans had for the nascent life … Continue reading “Don’t Be Boston 2.0, And Photos From “Bringing Back the Expats””
Senators Grill HHS’s Azar on Drug Price Cuts That Have Yet to Come
When President Trump signed legislation last month allowing seriously ill patients the “right to try” unapproved drugs without FDA oversight, he voiced a bold prediction: Within two weeks, he said, drug companies would announce “voluntary massive drops in prices.” Asked for further detail, the Department of Health and Human Services (HHS) declined to elaborate on … Continue reading “Senators Grill HHS’s Azar on Drug Price Cuts That Have Yet to Come”
GE to Spin Out Healthcare Division in Corporate Restructuring
General Electric said Tuesday that it plans to spin its GE Healthcare division out into a separate company and make other major structural changes in a bid to reduce debt and narrow the iconic yet ever-evolving American company’s areas of focus. GE Healthcare, which is headquartered in Chicago, said its 54,000 employees are scattered across … Continue reading “GE to Spin Out Healthcare Division in Corporate Restructuring”
How the Rise of Beijing and Shanghai Tech May Impact Silicon Valley
When it comes to startup tech hubs, U.S. cities from San Francisco to Austin to Boston come first to mind. But that is starting to change, as Asian cities—particularly in China—are snapping up more tech venture capital funding and exits, according to a new report from CB Insights. Silicon Valley tech startups pulled in the … Continue reading “How the Rise of Beijing and Shanghai Tech May Impact Silicon Valley”
As Cybersecurity Business Expands, Proficio Offers Risk Scoring
In a bid to differentiate itself from the crowd of cybersecurity companies offering network monitoring services, Carlsbad, CA-based Proficio said it has developed a risk-scoring system that assesses its customers’ network security controls. In addition to highlighting each customer’s vulnerabilities to cyber-attack, Proficio said its new ThreatInsight software dashboard offers recommendations on how a customer … Continue reading “As Cybersecurity Business Expands, Proficio Offers Risk Scoring”
Catalog Hauls In $9M to Make DNA-Based Data Storage Commercially Viable
The practice of encoding data in DNA molecules could be inching closer to graduating from research labs to finding practical commercial use. In the coming years, the explosion of data being generated by computing devices could outstrip the supply of hard drives needed to store it, some industry experts say. Some academic researchers and business … Continue reading “Catalog Hauls In $9M to Make DNA-Based Data Storage Commercially Viable”
Skyhawk Lands $100M from Funding & Celgene Pact for RNA-Targeted Drugs
Almost exactly a year ago, a Boston-area cancer immunotherapy startup led by Bill Haney announced its first partnership, with Celgene. Haney, a tech entrepreneur, filmmaker and investor, is at it again today, announcing a similar deal with the Summit, NJ, drug maker, but this time as the head of his other, newer biotech company, Skyhawk … Continue reading “Skyhawk Lands $100M from Funding & Celgene Pact for RNA-Targeted Drugs”
Ex-Accomplice Partner Lynch Returns to Corner Office with AtScale
Chris Lynch has been at a crossroads. After departing Accomplice in early 2017, where he spent the previous five years investing in early-stage data science and cybersecurity startups in the Boston area, Lynch says he did a lot of soul-searching to decide whether he wanted to remain a full-time investor or return to his roots … Continue reading “Ex-Accomplice Partner Lynch Returns to Corner Office with AtScale”
Bio-Techne to Acquire Liquid Biopsy Firm Exosome Diagnostics for $250M
Exosome Diagnostics, a company that has developed technology to test for disease by analyzing blood and other bodily fluids, has agreed to be acquired by Bio-Techne in a $250 million cash deal. If Waltham, MA-based Exosome hits certain unspecified milestones, the company could receive up to $325 million more, the companies announced Monday after the … Continue reading “Bio-Techne to Acquire Liquid Biopsy Firm Exosome Diagnostics for $250M”
Stitch Fix CTO Polinsky Says Its Style Shuffle Game Makes Data Fun
When Cathy Polinsky became chief technology officer of Stitch Fix in late 2016, she knew one of the San Francisco-based company’s key challenges was continually refining its core software algorithm to make sure customers received the right tailored suggestions in their monthly wardrobe boxes. So, she made it into a game. Style Shuffle is a … Continue reading “Stitch Fix CTO Polinsky Says Its Style Shuffle Game Makes Data Fun”
Finch Therapeutics Names Ulrich Thienel Chief Medical Officer
Ulrich Theinel has been appointed chief medical officer of Finch Therapeutics. Before joining the Somerville, MA, microbiome therapeutics developer, Theinel held leadership positions at Novelion Therapeutics, Eleven Biotherapeutics, ImmunoGen, Domantis, and Transkaryotic Therapies. Finch is currently in mid-stage clinical studies testing its microbial therapy as a treatment for Clostridium difficile infection. In other moves, Finch … Continue reading “Finch Therapeutics Names Ulrich Thienel Chief Medical Officer”
With AppNexus Acquisition, AT&T Stakes Claim in Adtech, Analytics
[Updated 3:51 p.m. See Below.] AT&T is buying advertising tech company AppNexus in a deal reportedly worth around $1.6 billion. The telecom giant plans to add AppNexus to an advertising and analytics business that it created last year. The purchase shows AT&T’s (NYSE: [[ticker:T]]) interest in better utilizing its vast amounts of customer data so … Continue reading “With AppNexus Acquisition, AT&T Stakes Claim in Adtech, Analytics”
Akero Closes $65M Financing to Back Liver Drug Licensed from Amgen
New biotech startup Akero Therapeutics debuted Monday with $65 million in a Series A round of funding to advance clinical development of a drug for the fatty liver disease nonalcoholic steatohepatitis (NASH). Cambridge, MA-based Akero licensed the drug from Amgen (NASDAQ: [[ticker:AMGN]]), which had tested it in Phase 1 studies. Akero said Monday it will … Continue reading “Akero Closes $65M Financing to Back Liver Drug Licensed from Amgen”
With Roche Data, Cancer Combos Post First Win Vs. Small Cell Lung Cancer
Cancer immunotherapy combinations continue to chalk up wins against lung cancer. For the first time, an immunotherapy-chemotherapy combination has succeeded in a late-stage study of patients with small cell lung cancer (SCLC), a particularly aggressive form of the disease often linked to smoking. Roche’s South San Francisco, CA-based Genentech division said today that in a … Continue reading “With Roche Data, Cancer Combos Post First Win Vs. Small Cell Lung Cancer”
Gemini Therapeutics Names Sandra Rojas-Caro Chief Medical Officer
Sandra Rojas-Caro has been appointed chief medical officer of Cambridge, MA-based Gemini Therapeutics. She was most recently chief medical officer for Aeglea BioTherapeutics. In other moves, Gemini named Claude Knopf to the position of chief business officer and promoted Scott Lauder to chief technology officer. Last fall, Gemini raised $42 million in Series A financing … Continue reading “Gemini Therapeutics Names Sandra Rojas-Caro Chief Medical Officer”
Boston Tech Watch: NuTonomy, Crypto Fund, Shyft, Renoviso & More
Lots of news to catch up on in the Boston-area tech sector. This week, we’re tracking an acquisition in healthcare data, the expansion of autonomous vehicle testing in the city, a stealthy cryptocurrency venture fund, and several venture investments. Read on for details. —Shyft Analytics agreed to be acquired by New York-based Medidata (NASDAQ: [[ticker:MDSO]]) … Continue reading “Boston Tech Watch: NuTonomy, Crypto Fund, Shyft, Renoviso & More”
Some of the Best Reads for Casual Friday: Artificial Intelligence
Fridays can be the most productive work day, as you look to shore up everything before the weekend starts. Or, maybe instead, it’s a day filled with long lunches and listless Internet surfing, as you seek out all the interesting articles you missed during the week. Fear not: Xconomy has done the work for you, … Continue reading “Some of the Best Reads for Casual Friday: Artificial Intelligence”
Bio Roundup: Duchenne Data, Roche Buys Foundation, IPO Wave & More
Biotech financing is a cyclical thing. Two years ago, the IPO window was unlatched but a number of companies ended up withdrawing their stock offerings. Others that pushed their IPOs through couldn’t sell shares at the price they wanted. This year, the IPO window is wide open. A total of 93 IPOs have priced as … Continue reading “Bio Roundup: Duchenne Data, Roche Buys Foundation, IPO Wave & More”
Intel CEO Resigns After Board Learns of His Relationship With Employee
Intel (NASDAQ: [[ticker:INTC]]) announced Thursday that CEO Brian Krzanich has resigned in the wake of the company’s recent discovery that he had been involved in a past consensual relationship with an Intel employee. The relationship violated Intel’s non-fraternization policy—the finding of an ongoing investigation by internal and external counsel, the company said in a written … Continue reading “Intel CEO Resigns After Board Learns of His Relationship With Employee”
Latticework Launches Personal Hybrid Cloud for Private Data-Sharing
Were you aghast at revelations that third-party organizations were able to capture millions of Facebook profiles from users who were unaware of the company’s privacy policy terms? If so, a Silicon Valley startup is hoping to entice you with a new option for private data storage of your personal digital life, along with private channels … Continue reading “Latticework Launches Personal Hybrid Cloud for Private Data-Sharing”
X·CON 2018: The Xconomy Conference on Technology and Transformation
We’re at a pivotal moment. Technology has brought us to the threshold of an era when almost everything and everyone will be connected to the Internet, machines will be far more “intelligent” than humans and gain unprecedented autonomy, and babies will be designed and diseases cured via genetic manipulation. In short, we’re facing technological change … Continue reading “X·CON 2018: The Xconomy Conference on Technology and Transformation”
Matrix Partners Holds Steady with $450M Fund, as Other VCs Go Big
[Updated 6/22/18, 10:06 am. See below.] Matrix Partners has raised $450 million for its 11th U.S. venture capital fund, according to a document filed with securities regulators. That’s the same size as Matrix’s last flagship fund, which it closed in 2013. That’s somewhat unusual in the current venture fundraising environment. Many venture firms have been … Continue reading “Matrix Partners Holds Steady with $450M Fund, as Other VCs Go Big”
Bio IPO Madness: Six Biotech Startups Raise $568M in 24 Hours
The window for biotech IPOs remains wide open and six more companies have charged through it, raising more than $568 million in the span of 24 hours. The first was Eidos Therapeutics (NASDAQ: [[ticker:EIDX]]), which raised $106 million in its stock market debut. The San Francisco company priced its IPO late Tuesday, selling 6.25 million … Continue reading “Bio IPO Madness: Six Biotech Startups Raise $568M in 24 Hours”
Analog Devices Aims High With Tech “Garage” Atop Boston Skyscraper
Analog Devices, the 53-year-old semiconductor company, threw a party Tuesday afternoon to celebrate its new technology incubator in Boston, dubbed the Analog Garage—an homage to the innovations that have originated in garages, basements, and other “nondescript quarters” of the world, as the company puts it. But this ain’t no garage or basement. The 25,000-square-foot office … Continue reading “Analog Devices Aims High With Tech “Garage” Atop Boston Skyscraper”
New Amazon-Led Healthcare Venture Taps Surgeon, Author Gawande as CEO
The new, independent, healthcare-focused company Amazon, Berkshire Hathaway, and JPMorgan Chase plan to launch made a big splash when it was first announced in January, but few details have emerged since. On Wednesday, the trio of American business heavyweights revealed a little more. They said Atul Gawande, a surgeon and author who is well known … Continue reading “New Amazon-Led Healthcare Venture Taps Surgeon, Author Gawande as CEO”
Goldman Sachs Leads $43M Funding for Website Platform NGINX
NGINX Inc., a Web application delivery platform company built on the open-source Web server NGINX, announced today it raised $43 million in a Series C fundraising to advance its system for helping clients modernize their websites. The funding round, which brings NGINX’s total venture capital haul to $103 million, was led by Goldman Sachs Growth … Continue reading “Goldman Sachs Leads $43M Funding for Website Platform NGINX”
CrowdStrike Hauls In $200M, Reports Valuation Over $3 Billion
CrowdStrike, a Silicon Valley cybersecurity company that fends off hackers by patrolling the edge devices connected to a network, announced today it raised $200 million in a financing round that sets the company’s valuation at more than $3 billion. Sunnyvale, CA-based CrowdStrike, as an endpoint protection and response platform, uses next-generation antivirus software, scans for … Continue reading “CrowdStrike Hauls In $200M, Reports Valuation Over $3 Billion”
CVS Health Expands Delivery, as Pharmacies Try to Keep Amazon at Bay
CVS Health said Tuesday that it has expanded its prescription-drug delivery service nationwide. Customers of the Rhode Island-based retail pharmacy giant, which operates about 9,800 stores in the U.S., will be able to get their medications, as well as over-the-counter items, delivered to their mailboxes in one to two days, said CVS Pharmacy, the retail … Continue reading “CVS Health Expands Delivery, as Pharmacies Try to Keep Amazon at Bay”
Former Walgreens Exec Leider Joins Gelesis as Chief Medical Officer
Gelesis has appointed Harry Leider to serve as the Boston company’s chief medical officer and executive vice president. Leider most recently worked at Walgreens Boots Alliance (NASDAQ: [[ticker:WBA]]), where he was chief medical officer and group vice president. His experience includes executive posts at Ameritox, XLHealth, and HealthNet. Since 2015, Leider has also been a … Continue reading “Former Walgreens Exec Leider Joins Gelesis as Chief Medical Officer”
In a Genentech Redux, Roche Pays $2.4B for Rest of Foundation Medicine
Roche this morning agreed to acquire the part of Foundation Medicine it didn’t already own, another big vote of confidence in tests that analyze a patient’s cancer genes and the drugs that can target them. Roche will pay $137 per share, or $2.4 billion, for the remaining stock of Foundation (NASDAQ: [[ticker:FMI]]), of Cambridge, MA. … Continue reading “In a Genentech Redux, Roche Pays $2.4B for Rest of Foundation Medicine”
Sarepta’s Data Are First in Rush for Duchenne Gene Therapy
It’s far too early to say whether gene therapy can treat Duchenne muscular dystrophy, a deadly genetic disease. But the first clinical data have arrived, with Sarepta Therapeutics today reporting encouraging preliminary results from three patients. Sarepta (NASDAQ: [[ticker:SRPT]]), of Cambridge, MA, is conducting an early-stage study of its experimental treatment known as AAVrh74.MHCK7.micro-Dystrophin. The … Continue reading “Sarepta’s Data Are First in Rush for Duchenne Gene Therapy”
Business Catering Firm ezCater Goes Big With $100M Round
Boston-based ezCater, which runs an online food-ordering service for businesses, said today it has $100 million in new money. The Series D financing round was led by Wellington Management Company, with previous investors including Iconiq Capital and Insight Venture Partners also participating. The new cash brings ezCater’s total venture haul to $170 million. The company … Continue reading “Business Catering Firm ezCater Goes Big With $100M Round”
Comcast, ForgePoint Pump $10M Into Security Analytics Startup Uptycs
Uptycs is starting to make some noise. Today, the two-year-old cybersecurity startup announced a $10 million Series A funding round to help expand its team and advance its security analytics software. The investment was led by ForgePoint Capital, a cybersecurity-focused venture firm formerly known as Trident Capital CyberSecurity, and Comcast Ventures, the venture arm of … Continue reading “Comcast, ForgePoint Pump $10M Into Security Analytics Startup Uptycs”