Joseph Yanchik has resigned as president and CEO of Aileron Therapeutics (NASDAQ: [[ticker:ALRN]]) after 12 years at the Cambridge, MA, biotech company. He has also stepped down from the company’s board of directors. Aileron gave no reason for the changes. John Longenecker, founder and president of biopharmaceutical consulting firm JPL Biotech, has been named interim … Continue reading “Aileron Therapeutics CEO Joseph Yanchik Resigns”
Category: Boston
A Need for Speed: Illumina Acquires San Diego’s Edico Genome
With the Bio-IT World Conference opening today in Boston, San Diego-based Illumina (NASDAQ: [[ticker:ILMN]]) said it has acquired Edico Genome, a five-year-old startup with technology to accelerate the readout of next-generation sequencing data. Illumina withheld terms of the deal in a statement released this morning. But an Illumina spokeswoman later confirmed that Illumina got Edico … Continue reading “A Need for Speed: Illumina Acquires San Diego’s Edico Genome”
The Revolution in Inflammation Drug Development
Chronic autoimmune and inflammatory diseases are painful and often lifelong conditions. I know this both as a scientist and a father, as my son, Jeremy, was diagnosed 12 years ago with Crohn’s disease, one type of inflammatory bowel disease (IBD). According to the National Institutes of Health, there are more than 80 autoimmune diseases affecting … Continue reading “The Revolution in Inflammation Drug Development”
Vesper Mics Up With $23M From Amazon, American Family, Baidu, Bose
Vesper Technologies, a high-tech microphone startup trying to ride the wave of voice-controlled devices, has summoned a $23 million investment from a group of well-known tech companies, venture capitalists, and an insurance firm. The Series B funding round was led by American Family Ventures, the venture arm of Madison, WI-based American Family Insurance. Other investors … Continue reading “Vesper Mics Up With $23M From Amazon, American Family, Baidu, Bose”
Celsius Snags $65M to Harness Single-Cell Genomics for Drug Discovery
With biotech flush with venture capital funding, it seems that every hot new area of biology research now comes with its own startup. The latest is Celsius Therapeutics, and the new technology is single-cell genomics—the study of genetic activity of individual cells. Celsius was founded by scientists from the Broad Institute and elsewhere, and the … Continue reading “Celsius Snags $65M to Harness Single-Cell Genomics for Drug Discovery”
Arch’s Bob Nelsen on Big Biotech and Why Pharma Should Be Very Afraid
Arch Venture Partners co-founder and managing director Bob Nelsen is widely regarded as one of the most astute and successful life science investors and company builders in the game. The list of his portfolio company wins (if you think of raising money, going public, or being acquired as a win, which he doesn’t necessarily, read … Continue reading “Arch’s Bob Nelsen on Big Biotech and Why Pharma Should Be Very Afraid”
“Wrong to Toast”: Broad’s Lander Sorry for Tribute to DNA Pioneer Watson
Amid backlash, renowned geneticist Eric Lander, the Broad Institute president and founding director, apologized today for his toast over the weekend to DNA structure co-discoverer James Watson (pictured) on the occasion of Watson’s 90th birthday. Watson has not been shy about expressing racist, anti-Semitic, and sexist views over the years. For example, in a 2007 … Continue reading ““Wrong to Toast”: Broad’s Lander Sorry for Tribute to DNA Pioneer Watson”
DraftKings, FanDuel Eye Sports Betting After Supreme Court Ruling
The game could be changing for daily fantasy sports companies DraftKings and FanDuel. In a landmark ruling Monday, the U.S. Supreme Court struck down a 1992 federal law that prohibited most states from authorizing betting on college and professional sports. The court’s decision paves the way for states to legalize sports gambling, and daily fantasy … Continue reading “DraftKings, FanDuel Eye Sports Betting After Supreme Court Ruling”
Boston VC Fundraising News: OpenView, CRV, Material Impact
[Updated 5/14/18, 2:25 pm. See below.] Boston-area venture capitalists are stocking up on cash to invest in more startups. Here is the latest fundraising news: —OpenView Venture Partners appears to have raised nearly $297 million for its fifth fund, according to a new SEC filing. That exceeded the $250 million target OpenView disclosed in a … Continue reading “Boston VC Fundraising News: OpenView, CRV, Material Impact”
With Training, Startups Like Paige.AI Could Soon Diagnose Cancer
It turns out interpreting biopsies isn’t entirely unlike mapping the rocky terrain of Mars. Thomas Fuchs, a former research technologist at NASA, is taking some of what he learned in training algorithms to navigate the Red Planet for the Mars Rover project and applying it to create cancer-detecting algorithms. Fuchs (pictured) thinks his startup, Paige.AI, … Continue reading “With Training, Startups Like Paige.AI Could Soon Diagnose Cancer”
Xconomy Awards Nominations Deadline Extended Until Friday, May 18
Many of the judges of the 2017 Xconomy Awards came out to the Awards gala last September to find out who would take home our cool 3D-printed trophies, and they commented on how impressed they were with the finalists they got to judge and the winners they helped to pick. “They were a great combination … Continue reading “Xconomy Awards Nominations Deadline Extended Until Friday, May 18”
Beam Therapeutics Spotlights CRISPR 2.0 with Precise Gene Editor, $87M
The founders of CRISPR-Cas9 startup Editas Medicine have gotten a jump on the next version of CRISPR gene editing. Scientists from Harvard University, Massachusetts General Hospital, and the Broad Institute are behind Beam Therapeutics, which today announced a $87 million Series A round to turn a more precise version of CRISPR into human medicine. The … Continue reading “Beam Therapeutics Spotlights CRISPR 2.0 with Precise Gene Editor, $87M”
David Thompson Joins Inozyme Pharma as Chief Scientific Officer
Inozyme Pharma has appointed David Thompson to serve as senior vice president and chief scientific officer. Before joining Cambridge, MA-based Inozyme, Thompson was most recently president of Azure Biotech. His experience also includes positions at Alexion Pharmaceuticals (NASDAQ: [[ticker:ALXN]]), Pfizer (NYSE: [[ticker:PFE]]), and Merck Research Labs. Inozyme is preparing to start clinical trials for lead … Continue reading “David Thompson Joins Inozyme Pharma as Chief Scientific Officer”
Trump Pledges Lower Drug Prices, But Blueprint Is Short on Details
[Editor’s note: Corie Lok co-authored this report.] In a much anticipated speech at the White House this afternoon, President Trump unveiled a long-awaited plan meant to cut the cost of prescription drugs in the U.S. The administration’s “American Patients First” plan, released via a speech and an accompanying 38-page “blueprint” document, laid out some relatively … Continue reading “Trump Pledges Lower Drug Prices, But Blueprint Is Short on Details”
“Unseen Is Unsold:” VR & Analytics Study What and Why Shoppers Buy
Humans are great about saying a lot of things. We’re not that good about actually following through. See: New Year’s diet resolutions or election polls. That tendency affects retailers as well. Big stores and brands spend millions in market research to figure out what shoppers want and then model production and creative teams to create those … Continue reading ““Unseen Is Unsold:” VR & Analytics Study What and Why Shoppers Buy”
Bio Roundup: Moderna’s Billions, Cytokine Bets, Shire Acquired & More
Cytokine therapies for cancer aren’t new but they are attracting renewed interest. Some pharmaceutical companies see drug combinations using cytokines as a way to broaden the reach of immunotherapy, which still doesn’t work for the majority of cancer patients. This week, Eli Lilly (NYSE: [[ticker:LLY]]) showed how much it believes in cytokines. The Indianapolis drug maker … Continue reading “Bio Roundup: Moderna’s Billions, Cytokine Bets, Shire Acquired & More”
New CEO in Driver’s Seat as Autonomic Scales Up Mobility Cloud
Autonomic, the Silicon Valley startup acquired in February by Ford Smart Mobility, announced growth plans for its Web-based transportation app development platform today, and a reshuffling of its leadership team. The new CEO is Gavin Sherry, who will steer an expansion of the Ford subsidiary’s Transportation Mobility Cloud, a software development hub that will be … Continue reading “New CEO in Driver’s Seat as Autonomic Scales Up Mobility Cloud”
Synlogic CEO Gutierrez-Ramos Resigns, Brennan Named Interim Chief Exec
Jose Carlos Gutierrez-Ramos has stepped down as president and CEO of Synlogic (NASDAQ: [[ticker:SYBX]]). The Cambridge, MA, synthetic biology company gave no reason for his resignation, which includes his seat on the board of directors. But Synlogic said in a news release that Gutierrez-Ramos will “serve in an advisory capacity as needed.” Aoife Brennan, Synlogic’s … Continue reading “Synlogic CEO Gutierrez-Ramos Resigns, Brennan Named Interim Chief Exec”
Greentown Expands Space for “Scrappy” Cleantech Startups: Photos
It takes perseverance to make it in cleantech, perhaps even more in recent years than before. Venture capitalists have scaled back their cleantech investments since 2011, thanks in part to big failures like Solyndra and macro trends like cheaper natural gas and solar panels, according to a Brookings Institution report last year. That has led … Continue reading “Greentown Expands Space for “Scrappy” Cleantech Startups: Photos”
USA Today Owner Gannett to Buy Digital Marketer WordStream for $130M
WordStream, one of the veterans of Boston’s digital marketing sector, is being acquired by Gannett, the publisher of USA Today and a network of local newspapers around the country. McLean, VA-based Gannett (NYSE: [[ticker:GCI]]) said it has agreed to pay $130 million in cash, net of cash acquired, plus up to $20 million in additional … Continue reading “USA Today Owner Gannett to Buy Digital Marketer WordStream for $130M”
With $1.6B Armo Buy, Eli Lilly Is the Latest to Bet Big on Cytokines
Eli Lilly is making a splash in the fast-moving, highly competitive field of cancer immunotherapy. With a $1.6 billion cash deal to acquire Armo BioSciences, the Indianapolis company has placed one of the boldest bets yet that cytokine drugs could be critical in expanding immunotherapy’s reach. This morning, Lilly (NYSE: [[ticker:LLY]]) agreed to pay $50 … Continue reading “With $1.6B Armo Buy, Eli Lilly Is the Latest to Bet Big on Cytokines”
Fuze Bags $150M as Business Communications Competition Heats Up
Another year, another $100 million-plus funding round for Fuze, the cloud-based business communications software company. Boston-based Fuze said Wednesday evening that it recently raised a $150 million equity funding round led by Summit Partners, which was joined in the investment by other previous Fuze backers, including Bessemer Venture Partners. Fuze pulled in a $134 million … Continue reading “Fuze Bags $150M as Business Communications Competition Heats Up”
Intel Capital Showcases 12 Startups, Shift to Data-Centric Strategy
The temperature in California’s Palm Desert hit 107 degrees Tuesday, but indoors at Intel Capital’s Global Summit meeting, the corporate venture arm said it has invested a cool $115 million so far this year. Intel Capital wasn’t ready to disclose exactly how many startups it has funded, but it highlighted a dozen tech companies that … Continue reading “Intel Capital Showcases 12 Startups, Shift to Data-Centric Strategy”
An Inside Look at CAR-T, Gene Therapy Launches at ‘What’s Hot’ May 16
Getting a new drugmaking technology through clinical development and to market is a major milestone, the culmination of years of scientific work. But the true test of how important that technology is comes afterwards, when the real world gets its hands on it. This type of story is playing out either right now, or soon … Continue reading “An Inside Look at CAR-T, Gene Therapy Launches at ‘What’s Hot’ May 16”
Intel Leads $20M Investment in Transparent A.I. Startup Gamalon
Gamalon, a startup that says it has developed artificial intelligence-like software that avoids some of the drawbacks of popular machine learning techniques, has received a big endorsement of its approach. On Tuesday, the Cambridge, MA-based company announced a $20 million Series A funding round led by Intel Capital. Other backers of the round included .406 … Continue reading “Intel Leads $20M Investment in Transparent A.I. Startup Gamalon”
Evelo IPO Raises $85M for Microbiome Drugs in Inflammation, Cancer
Evelo Biosciences now has $85 million to spend on its pipeline of drugs that target the human microbiome. The Cambridge, MA-based biotech priced its initial public offering of 5.3 million shares at $16, right at the midpoint of the $15 to $17 range it had previously set. Evelo’s shares are expected to begin trading on … Continue reading “Evelo IPO Raises $85M for Microbiome Drugs in Inflammation, Cancer”
Akili Grabs $55M, Seeking FDA Approval of First Video Game Therapy
[Corrected 5/9/18, 9:59 am. See below.] Akili Interactive Labs has scooped up another pile of cash to help bring its first product to the market: an experimental mobile video game aimed at assessing and treating attention deficit hyperactivity disorder. Boston-based Akili said Wednesday it closed a $55 million Series C funding round led by Singapore-based … Continue reading “Akili Grabs $55M, Seeking FDA Approval of First Video Game Therapy”
Moderna’s Billions: Will Building Big Before an IPO Pay Off?
When Merck invested $125 million and deepened its ties with Moderna Therapeutics last week, it was more than just an evolution of the relationship between the two companies. It continued a high-stakes strategy by Cambridge, MA-based Moderna and its backers, and made them a case study for a rarely used method of company-building in biotech: … Continue reading “Moderna’s Billions: Will Building Big Before an IPO Pay Off?”
ThoughtSpot Nabs $145M To Democratize A.I.-Driven Data Analysis
ThoughtSpot, which enables its clients’ ordinary staffers to conduct advanced data analysis to inform their business decisions, announced today that it has raised $145 million in a Series D funding round. The big funding infusion will help ThoughtSpot expand its global customer base, and it’s also good news for the company’s R&D and commercialization centers … Continue reading “ThoughtSpot Nabs $145M To Democratize A.I.-Driven Data Analysis”
Takeda Strikes $62B Deal to Acquire Rare Disease Drug Maker Shire
Takeda Pharmaceutical has reached an agreement to acquire Shire after raising its offer for the rare disease drug company. Under the cash and stock agreement, Osaka, Japan-based Takeda will pay $30.33 in cash for each share of Shire (NASDAQ: [[ticker:SHPG]]). Shire shareholders will also receive 0.839 new Takeda shares or 1.678 Takeda American Depository Shares, … Continue reading “Takeda Strikes $62B Deal to Acquire Rare Disease Drug Maker Shire”
Buoy Health, CVS Partner on Chatbot That Helps Patients Find Care
Virtual assistants seem to be everywhere one turns today, both online and in the physical world. From voice-controlled gadgets like Google (NASDAQ: [[ticker:GOOGL]]) Home and Amazon’s (NASDAQ: [[ticker:AMZN]]) Echo to the virtual chatbots some organizations’ websites use to greet visitors, these tools are attempting to help people get their questions answered more quickly. But some … Continue reading “Buoy Health, CVS Partner on Chatbot That Helps Patients Find Care”
Seismic Acquires Savo Group, Rival in Sales Enablement Software
[Updated 5/8/18 9:30 am. See below.] In the eight years since it was founded, Seismic has become a leader in the market for Web-based software used by corporations and other big customers to manage the online marketing materials created to support sales reps in the field. Today, the San Diego software-as-a-service company says it has agreed … Continue reading “Seismic Acquires Savo Group, Rival in Sales Enablement Software”
Cue Biopharma Appoints Anish Suri Chief Scientific Officer
Anish Suri has been appointed chief scientific officer of preclinical-stage immunotherapy developer Cue Biopharma (NASDAQ: [[ticker:CUE]]). Suri most recently worked in Belgium at Janssen Immunosciences, where he was senior director. Cambridge, MA-based Cue, which went public at the end of 2017, is developing immunotherapies to treat cancers and autoimmune diseases.
Activist Investor Elliott Management Eyes $7B Deal for Athenahealth
Elliott Management, the activist investor that purchased a 9 percent stake in Athenahealth last year, now wants to buy the whole company for nearly $7 billion, a deal that could bring more changes to the healthcare IT company. Elliott proposes to acquire Watertown, MA-based Athenahealth (NASDAQ: [[ticker:ATHN]]) for $160 per share in cash, the New … Continue reading “Activist Investor Elliott Management Eyes $7B Deal for Athenahealth”
Only Two Days Left to Nominate for the Xconomy Awards
Last year, the winners of the inaugural Xconomy Awards included a 30-year-old CEO of a young cell therapy startup commercializing his work from MIT (Armon Sharei; Young Innovator); a Dana-Farber oncologist who works closely with breast cancer patients as part of his research (Nikhil Wagle; Patient Partnership); an MIT technology licensing veteran who played a … Continue reading “Only Two Days Left to Nominate for the Xconomy Awards”
Will New Study Cut Guesswork for Depression Medicine Prescriptions?
[Updated 5/7/18, 5pm ET. See below.] Genetic testing that helps guide more precise cancer treatment is making its way into standard practice in major U.S. medical centers. Could the same eventually be true for depression? One test maker thinks it has finally gathered enough evidence to convince psychiatrists to order its product and make more … Continue reading “Will New Study Cut Guesswork for Depression Medicine Prescriptions?”
Mesosphere Raises $125M To Automate App Operations for Businesses
Mesosphere, which helps businesses deploy advanced apps and automate operations within their IT infrastructure, announced Monday that it has raised $125 million in a Series D funding round. San Francisco-based Mesosphere aims to make it easier even for non-tech companies, such as retailers and cruise ship lines, to develop new digital features, such as streaming … Continue reading “Mesosphere Raises $125M To Automate App Operations for Businesses”
Boston Tech Watch: Teradyne, American Well, Namogoo, Sentenai & More
[Updated 5/7/18, 12:17 pm. See below.] It’s time to catch up on some recent deals and other news from the Boston-area tech scene: —Teradyne (NYSE: [[ticker:TER]]), a North Reading, MA-based seller of robots and automatic test equipment for checking semiconductors and other electronics, recently said it purchased Denmark-based Mobile Industrial Robots, known as MiR, for … Continue reading “Boston Tech Watch: Teradyne, American Well, Namogoo, Sentenai & More”
Carbon Black CTO: “Right Time” For IPO; So Far, Wall Street Agrees
[Updated 5/4/18, 4:34 pm. See below.] Timing is everything in business. For private companies aiming to go public, it’s impossible to know the ideal moment to make a stock market debut. But Carbon Black chief technology officer Mike Viscuso is feeling good today, after his cybersecurity company’s stock performed well on its first day of … Continue reading “Carbon Black CTO: “Right Time” For IPO; So Far, Wall Street Agrees”
Venture Firms to New York Wedding Startup Zola: ‘I Do’ to $100M
Most wedding registries are focused on the lead-up to the day of the ceremony. New York startup Zola also sees opportunity in connecting with—and making a sales pitch to—married couples years after they’ve tied the knot. Zola is an “e-commerce business disguised as a wedding company,” said Shan-lyn Ma, the startup’s founder and CEO, in … Continue reading “Venture Firms to New York Wedding Startup Zola: ‘I Do’ to $100M”
Sarah Boyce Joins Akcea Therapeutics as President
Akcea Therapeutics (NASDAQ: [[ticker:AKCA]]) has named Sarah Boyce president of the Cambridge, MA-based drug developer. She is also joining the company’s board of directors. Boyce comes to Akcea from Carlsbad, CA-based Ionis Pharmaceuticals (NASDAQ: [[ticker:IONS]]), where she was chief business officer. Boyce’s move follows a March deal in which Ionis agreed to share the rights … Continue reading “Sarah Boyce Joins Akcea Therapeutics as President”
Bio Roundup: IDO Fallout, Express Scripts Dumps Amgen, Isaly Out & More
Here’s a case study of how fast things can change in biopharma. For a few years, a type of cancer drug called an IDO inhibitor was all the rage, a promising path to expanding the reach of immunotherapy. Major drug makers were dealing, too. Through acquisitions and alliances, they rolled out a spate of large-scale … Continue reading “Bio Roundup: IDO Fallout, Express Scripts Dumps Amgen, Isaly Out & More”
Carbon Black Raising $152M as Tech IPOs Stage Comeback
Into the breach goes Carbon Black. The Waltham, MA-based cybersecurity company said Thursday night that it is raising $152 million in an initial public stock offering by selling 8 million shares of its common stock at $19 per share. That gives Carbon Black an implied valuation of more than $1.2 billion. Carbon Black said its … Continue reading “Carbon Black Raising $152M as Tech IPOs Stage Comeback”
Toyota Research Institute to Open New Driverless Car Test Bed in MI
The state of Michigan notched another mobility-industry win today when the Toyota Research Institute (TRI) announced that a 60-acre parcel in Ottawa Lakes, MI, will be the home of a new autonomous vehicle development and testing facility, the first dedicated exclusively to TRI’s use. TRI is Toyota’s research arm, which aims to enhance the safety of … Continue reading “Toyota Research Institute to Open New Driverless Car Test Bed in MI”
Spyce, MIT-Born Robotic Kitchen Startup, Launches Restaurant: Video
The Thai chicken bowl from Spyce Food’s new restaurant in downtown Boston wasn’t life-changing, but it’s one of the better meals I’ve had from a “fast casual” restaurant—and certainly the best I’ve had that was prepared mostly by robots. OK, it’s the first meal I’ve eaten that was cooked by a robotic system, with help … Continue reading “Spyce, MIT-Born Robotic Kitchen Startup, Launches Restaurant: Video”
With $59M, Casma and Ex-Constellation CEO Take Aim at Cellular Trash
Scientists have known for decades that cells can recycle their own trash, but they’ve only recently started to figure out how. Casma Therapeutics is trying to prove that those insights could be useful in treating a wide range of diseases. Formed by Third Rock Ventures, Casma has secured a $58.5 million Series A round and … Continue reading “With $59M, Casma and Ex-Constellation CEO Take Aim at Cellular Trash”
Unity Biotech IPO Raises $85M to Test Drugs for Diseases of Aging
Unity Biotechnology has yet to show that its drugs can treat diseases of aging in humans, but it now has $85 million to start those tests. The Brisbane, CA, drug developer priced its initial public offering late Wednesday by selling 5 million shares at $17 apiece, the midpoint of the $16 to $18 range it … Continue reading “Unity Biotech IPO Raises $85M to Test Drugs for Diseases of Aging”
Cord-Cutting for Kids: Video App Kanopy Adds Free Children’s Shows
If you’ve already liberated yourself from a cable subscription in favor of streaming video services over the Internet, you’re parcelling out your dollars to get the content you want most from services such as Netflix, Hulu, and N.B.A. League Pass. A lesser-known option, Kanopy, offers an unusual streaming subscription deal: Pay nothing, because your university … Continue reading “Cord-Cutting for Kids: Video App Kanopy Adds Free Children’s Shows”
Soft Robotics Scoops Up $20M in Latest Logistics Automation Deal
Venture investment in logistics robot companies keeps coming. Today, Cambridge, MA-based Soft Robotics said it has raised $20 million in a new funding round led by Hyperplane Venture Capital. The deal brought in a slew of new investors, including Scale Venture Partners, Calibrate Ventures, Honeywell Ventures, Tekfen Ventures, and Yamaha Motor Ventures. They’re all looking … Continue reading “Soft Robotics Scoops Up $20M in Latest Logistics Automation Deal”
Save $100 Today on “What’s Hot in Boston Biotech” on May 16
We’re just a few weeks away from What’s Hot in Boston Biotech—and we’re offering you the chance to save $100 with our Procrastinator’s Special. It all takes place on Wednesday, May 16, at the Broad Institute of MIT and Harvard in Cambridge, MA. Join us for fireside chats, spotlight talks, interactive discussions, and more with … Continue reading “Save $100 Today on “What’s Hot in Boston Biotech” on May 16”