The RSA Conference, one of the cybersecurity industry’s largest annual events, opened in San Francisco this week amid a barrage of unsettling news, as both nations and companies drew boundary lines and formed alliances in a cyber universe that seems increasingly combative. In the United States, a growing awareness of the weaponization of cyber skills, … Continue reading “Cyberwar Theme Resounds At RSA; Tech Giants Unveil Joint Strategy”
Category: Boston
Marketing Chatbot Firm Drift Grabs $60M Led By Sequoia, Sans HubSpot
David Cancel and Elias Torres built their last startup, a marketing automation company called Performable, with just $3 million from venture capitalists. They raised that funding round in late 2009, and about 18 months later they sold the company to HubSpot (NYSE: [[ticker:HUBS]])—a larger sales and marketing tech firm based in Cambridge, MA—for a reported … Continue reading “Marketing Chatbot Firm Drift Grabs $60M Led By Sequoia, Sans HubSpot”
DemandJump Raises $6M for Marketing Tech Focused on Where, Not Who
DemandJump, the Indianapolis-based marketing software startup, has raised a $6 million Series A round of financing. Investing in the round were Steve Case’s Rise of the Rest Fund, Flyover Capital, Cultivation Capital, 4G Ventures, Sigma Prime Ventures’ managing director Bob Davoli, and Hyde Park Venture Partners. Since the company was founded in 2015, it has … Continue reading “DemandJump Raises $6M for Marketing Tech Focused on Where, Not Who”
U.S. Funding for Biomedical Research Takes Upturn
At the end of March, Congress passed a $1.3 trillion spending bill to fund federal agencies for the rest of the fiscal year and avert another government shutdown. The 2,232-page legislation included a $3 billion funding increase for the National Institutes of Health (NIH), the second largest in the health agency’s history. Other research and … Continue reading “U.S. Funding for Biomedical Research Takes Upturn”
Adecco to Buy General Assembly for $412.5M to Grow Tech Workforce
The Adecco Group, the global staffing and worker training giant, has inked a $412.5 million agreement to acquire General Assembly, a tech training and career development company that offers courses online and at 20 campuses worldwide. The deal underscores the growing demand for software coding and other digital skills—and employers’ increased willingness to turn to … Continue reading “Adecco to Buy General Assembly for $412.5M to Grow Tech Workforce”
Alkermes Depression Drug Review Goes Ahead After FDA About-Face
Less than a month after the FDA refused to review Alkermes’ new drug application for the company’s depression drug, the agency has changed its mind, according to a statement from the company. After it “clarified certain aspects of the NDA submission”, Alkermes said Monday that the FDA will now accept the application without requiring additional … Continue reading “Alkermes Depression Drug Review Goes Ahead After FDA About-Face”
Shire is Selling Cancer Business for $2.4B to Focus on Rare Disease
Shire plans to exit cancer drug development through a deal to sell its oncology unit to a French company, Servier, for $2.4 billion cash. Dublin, Ireland-based Shire (NASDAQ: [[ticker:SHPG]]), which operates a U.S. headquarters in Lexington, MA, says the deal helps it tighten its rare disease drug focus. Meanwhile, privately held Servier says adding Shire’s … Continue reading “Shire is Selling Cancer Business for $2.4B to Focus on Rare Disease”
For More Lung Cancer Patients, the Promise of No Chemo Looms Larger
[Editor’s note: Ben Fidler co-authored this report.] A decade from now, it’s possible that immunotherapy will have made a big dent in lung cancer, which is by far the deadliest type of the disease. Drugs from several companies have worked their way forward, initially for patients who have failed chemotherapy, and now, in some cases, … Continue reading “For More Lung Cancer Patients, the Promise of No Chemo Looms Larger”
Commense Selects Merrimack Pharma Veteran Edward Stewart for CEO
Microbial therapies developer Commense has appointed Edward “Tad” Stewart to serve as the Boston company’s president and CEO. Stewart was most recently chief business officer of Cambridge, MA-based Crescendo Biologics. Before that, he spent 15 years at Merrimack Pharmaceuticals (NASDAQ: [[ticker:MACK]]) as senior vice president, business development. Commense emerged from Boston startup creator PureTech in … Continue reading “Commense Selects Merrimack Pharma Veteran Edward Stewart for CEO”
Boston Tech Watch: Terrafugia, Akamai, Brightcove, Zaius & More
It’s time to catch up on some of the latest Boston tech news: —Zaius, a Boston-based marketing technology startup, said it pulled in a $30 million investment, bringing its venture capital haul to $50.8 million. Insight Venture Partners led the Series B funding round, and earlier Zaius backers Matrix Partners, Underscore VC, and Leaders Fund … Continue reading “Boston Tech Watch: Terrafugia, Akamai, Brightcove, Zaius & More”
On Eve of RSA, Fortanix and Cybereason Talk Encryption, Cyberwar
Ambuj Kumar says he’ll face a higher hurdle than the other nine finalists in the RSAC Innovation Sandbox Contest on Monday, when he’ll have three minutes to convince judges that his startup, Fortanix, deserves to win the prestigious competition. The Sandbox contest is one of the kick-off events at RSA Security’s huge annual conference in … Continue reading “On Eve of RSA, Fortanix and Cybereason Talk Encryption, Cyberwar”
Onapsis Bags $31M as U.S. Cybersecurity Funding Slows
The U.S. cybersecurity industry has seen a decline in venture capital investments recently, but Boston-area security startups are having a good week. On Tuesday, Boston-based ObserveIT said it recently pulled in a Series B investment led by Bain Capital Ventures. The Boston Business Journal reported the initial amount was $16 million, but that number could … Continue reading “Onapsis Bags $31M as U.S. Cybersecurity Funding Slows”
Bio Roundup: Lung Cancer Showdown, Gene Therapy Deals, IPO Busts
This weekend, cancer immunotherapy will once again take biopharma’s center stage. At one of the year’s big cancer meetings, investors, researchers, and many others will have a close eye on a group of presentations touting new lung cancer regimens that combine immunotherapies with other treatments. The presentations could shift the dynamics of the fast-moving landscape, … Continue reading “Bio Roundup: Lung Cancer Showdown, Gene Therapy Deals, IPO Busts”
As Novartis Buys In to Gene Therapy, GSK Bows Out with Orchard Deal
Novartis just bet close to $9 billion on the future of gene therapy, a boost for a field that hasn’t yet seen commercial success. In the same week, GlaxoSmithKline, which has one of the few gene therapies on the market but has struggled to sell it, is asking out. The British pharma giant will send … Continue reading “As Novartis Buys In to Gene Therapy, GSK Bows Out with Orchard Deal”
Boston VC Continues Surge in Q1; Here are the Top 10 Deals
Venture capital continued to flow to Boston-area companies at a prolific rate during the first quarter of 2018, as investors picked up where they left off last year. In the first three months of the year, venture capitalists pumped more than $2.7 billion into companies located in the Boston metropolitan area, according to data from … Continue reading “Boston VC Continues Surge in Q1; Here are the Top 10 Deals”
GrocerKey Strengthens Ties to Woodman’s with New $2.5M Funding Round
GrocerKey, a startup that has developed white-label software to help grocery stores create an online presence, said it has raised $2.5 million in a funding round led by Woodman’s Market, an early GrocerKey customer. Other participants in the investment include Dunnhumby Ventures, the venture capital arm of Dunnhumby, a subsidiary of U.K. retail giant Tesco … Continue reading “GrocerKey Strengthens Ties to Woodman’s with New $2.5M Funding Round”
No “Pink Tax”: Billie, a Shave Club for Women, Raises $6M
[Corrected, 4/11/18, 4:48 p.m. ET. See below.] Billie, a direct-to-consumer seller of monthly shaving and body care products subscriptions, has raised $6 million in new funding. The New York-based startup, which launched in November, previously raised $2.5 million. This latest round of funding was led by Silverton Partners in Austin and included existing investors Female … Continue reading “No “Pink Tax”: Billie, a Shave Club for Women, Raises $6M”
With New Data, Drug Combos, Lung Cancer Experts Scramble to Keep Pace
When oncologist Renato Martins finished his medical training, advanced lung cancer was almost certainly a quick death sentence. “I knew, by name, every patient who had survived two years,” he says. Thanks in large part to the arrival of cancer immunotherapy, things are much different today. While lung cancer remains by far the leading cause … Continue reading “With New Data, Drug Combos, Lung Cancer Experts Scramble to Keep Pace”
Circle CEO Allaire on Bitcoin, Blockchain & the Bank of the Future
Depending on whom you talk to, cryptocurrencies could be the biggest bubble in history or the backbone of the future global economy—or both. The reality is it’s too early to say. The industry must still navigate a host of issues, including wild price swings, global regulatory uncertainty, cyber threats, and technological limitations of blockchain systems, … Continue reading “Circle CEO Allaire on Bitcoin, Blockchain & the Bank of the Future”
Movatic Allows Hardware Makers to Tap into Shared Mobility Market
When Ansgar Strother co-founded A2B Bikeshare in 2012, he was on a mission to make bike-sharing more affordable and accessible. The company’s approach involved a kiosk-free “smart bike, dumb rack” model that put the technology of a rental kiosk onto the bike itself through a touchscreen interface mounted on the handlebars, allowing customers to pay … Continue reading “Movatic Allows Hardware Makers to Tap into Shared Mobility Market”
Expectations Rise on Q1 Surge in Venture Funding; and Top 10 Deals
[Updated 4/11/18 10:13 am. See below.] Venture capital investors poured more than $28.2 billion into U.S. companies during the first three months of 2018—marking the strongest single quarter in at least a dozen years, according to the Venture Monitor Report released today by Seattle-based PitchBook and the National Venture Capital Association (NVCA). The $28.2 billion that … Continue reading “Expectations Rise on Q1 Surge in Venture Funding; and Top 10 Deals”
Cybersecurity Firm Carbon Black Advances IPO After Years of Rumors
Carbon Black is moving closer to a long-anticipated initial public stock offering. The Boston-area cybersecurity company filed an S-1 document with the SEC on Monday indicating it might raise up to $100 million in an IPO, although that number could shift if Carbon Black ends up going public. It has applied to trade on the … Continue reading “Cybersecurity Firm Carbon Black Advances IPO After Years of Rumors”
E-Commerce Startups Open Door to Endless Virtual Closet
The sharing economy is moving into our bedroom closets. We already apply this idea to transportation (Uber vs. taxi) and vacation accommodations (Airbnb vs. hotel). Now, thanks to a growing number of e-commerce companies, the ability to share goods and services is being applied to our wardrobes through programs that offer clothing rentals for a … Continue reading “E-Commerce Startups Open Door to Endless Virtual Closet”
Novartis Bets $8.7B on AveXis’s Gene Therapy for Spine Disease
A gene therapy for the rare disease spinal muscular atrophy could hit the U.S. market next year. If it does, the treatment will likely be sold by Novartis, not its developer, AveXis, thanks to a deal announced early this morning. Novartis has agreed to buy AveXis (NASDAQ: [[ticker:AVXS]]) and its experimental SMA gene therapy AVXS-101 … Continue reading “Novartis Bets $8.7B on AveXis’s Gene Therapy for Spine Disease”
Xconomy Roadmap 2018: Top 15 Innovation Areas to Watch
With the first quarter in the books, it’s time to step back and lay out Xconomy’s editorial map for the rest of the year. As readers know, we strive to cover a wide range of innovation sectors, from tech and life sciences to healthcare and education—all with a mix of on-the-ground reporting, daily news stories, … Continue reading “Xconomy Roadmap 2018: Top 15 Innovation Areas to Watch”
Bio Roundup: Ex-Kiters Say Allo, NASH Cash & Data, Alkermes No & More
Happy Friday, everyone. We’ll start this week with biotech deals, one featuring a couple of CAR-T heavyweights who have re-emerged after selling Kite Pharma for $12 billion. They will try to shepherd to market a different type of the promising cancer immunotherapy: allogeneic T cells that come from donors, not from a patient’s own blood. … Continue reading “Bio Roundup: Ex-Kiters Say Allo, NASH Cash & Data, Alkermes No & More”
Boston Tech Watch: Harvard Accelerator, Garden Robot Funding & More
[Updated, 10:54am. See below] This week in Boston tech, we’re tracking a new accelerator program at Harvard University; a key hire by a Babson College program that supports women entrepreneurs; and recent venture capital investments in robotics, artificial intelligence, materials science, and marketing. Read on for details. —Harvard Innovation Labs created Launch Lab X, a … Continue reading “Boston Tech Watch: Harvard Accelerator, Garden Robot Funding & More”
RSA Security Agrees to Buy Behavioral Analytics Startup Fortscale
RSA Security, a Bedford, MA-based business division of Dell Technologies (NYSE: [[ticker:DVMT]]) announced on Thursday a pending deal to acquire Fortscale, a cybersecurity startup that uses behavioral analysis to detect network intrusions. RSA Security, a global cybersecurity provider for businesses, said it plans to incorporate Fortscale’s technology into a new version of its service, the … Continue reading “RSA Security Agrees to Buy Behavioral Analytics Startup Fortscale”
Harvard-Born Quantum Software Startup Zapata Computing Raises $5.4M
Zapata Computing, a stealthy “quantum software and services company” that is collaborating with IBM, has pulled in $5.4 million in equity funding from investors, according to a document filed with the SEC this week. The young Cambridge, MA-based startup was launched last year by a group of Harvard University scientists, including Alán Aspuru-Guzik, according to … Continue reading “Harvard-Born Quantum Software Startup Zapata Computing Raises $5.4M”
Cleaner Vehicles Help Make Smarter Cities
Two of the most popular terms in urban planning today are smart cities and clean energy. These concepts naturally go hand-in-hand. As cities get smarter, they use energy more efficiently and in a more controllable fashion, and they are better able to incorporate intermittent clean energy sources. Cities, and the power grids that support them, … Continue reading “Cleaner Vehicles Help Make Smarter Cities”
Corvidia CEO Davidson Moves to CSO, de Garidel Named Chief Executive
Corvidia Therapeutics’ CEO Michael Davidson is taking a new role at the company as its chief scientific officer. Waltham, MA-based Corvidia has appointed Marc de Garidel to succeed Davidson as chief executive. De Garidel’s experience includes six years as chairman and CEO of France-based Ipsen. Corvidia’s lead drug is in a Phase 2 study testing … Continue reading “Corvidia CEO Davidson Moves to CSO, de Garidel Named Chief Executive”
Lilly Licenses Sigilon’s Cell Encapsulation Tech for Diabetes Therapy
A day after Pfizer decided to step back from the development of a universal cell therapy for cancer, Eli Lilly is jumping in, this time for diabetes. Lilly is licensing cell encapsulation technology from Cambridge, MA biotech Sigilon Therapeutics to develop an off-the-shelf, or “allogeneic”, cell therapy to treat type 1 diabetes. The two companies … Continue reading “Lilly Licenses Sigilon’s Cell Encapsulation Tech for Diabetes Therapy”
Formlabs Pulls In $30M to Push Line of 3D Printers
The hype over consumer 3D printing has waned, but the case for selling the machines to businesses seems to be growing stronger—and the venture capital is pouring in. The latest to cash in is Somerville, MA-based Formlabs, which recently raised $30 million in new equity funding, according to a document filed with the SEC this … Continue reading “Formlabs Pulls In $30M to Push Line of 3D Printers”
With $25M in Tow, 6 River Systems Aims to Advance Warehouse Robotics
The land grab in the warehouse automation market is intensifying. After Amazon (NASDAQ: [[ticker:AMZN]]) paid $775 million for Kiva Systems in 2012, it began deploying the startup’s package-toting robots in its distribution centers worldwide—and stopped selling the machines to other companies. That move helped spur a new wave of warehouse robotics startups trying to meet … Continue reading “With $25M in Tow, 6 River Systems Aims to Advance Warehouse Robotics”
How Next-Gen Chipmakers Are Raising Money, Taking On Tech Giants
The advent of big fundraising rounds for startup chip innovators—a class shunned by most venture capital firms only a few years ago—seems to mark a turnaround in recent VC attitudes about semiconductor investments. But it turns out VCs weren’t the only driving force behind the change in fundraising prospects for the young companies now inventing … Continue reading “How Next-Gen Chipmakers Are Raising Money, Taking On Tech Giants”
Ex-Kite Execs Resurface with $300M and Control of Pfizer CAR-T Cells
Arie Belldegrun and David Chang steered Kite Pharma last year to a historic FDA approval and a $12 billion bear hug from Gilead Sciences. Now they’ve re-emerged with a new startup, Allogene, which has $300 million in backing and the rights to a CAR-T cell therapy program which is quite different from the one they … Continue reading “Ex-Kite Execs Resurface with $300M and Control of Pfizer CAR-T Cells”
Boston Scientific Buys Securus for $40M to Add to Heart Imaging Lineup
Medical device giant Boston Scientific has acquired Securus Medical Group, a startup with FDA-cleared technology that measures and images temperature in the body during heart rhythm procedures. Marlborough, MA-based Boston Scientific (NYSE: [[ticker:BSX]]) said Tuesday that it paid $40 million up front for the stake in Securus that it did not already own. Securus, which … Continue reading “Boston Scientific Buys Securus for $40M to Add to Heart Imaging Lineup”
Reports: Walmart Wants to Buy PillPack, as Healthcare Ambitions Grow
Walmart is reportedly talking with PillPack about acquiring the online pharmacy and medication management company, a deal that would strengthen the retail giant’s healthcare offerings and potentially help it fend off Amazon if the Seattle e-commerce company starts selling prescription drugs. The PillPack acquisition talks were first reported by CNBC and later confirmed by other … Continue reading “Reports: Walmart Wants to Buy PillPack, as Healthcare Ambitions Grow”
Golden Seeds Seeks to Plant Angel Funds For Women Founders in Houston
Houston—Golden Seeds, an angel investing community that focuses on funding women entrepreneurs, has opened a chapter in Houston. The New York-based group now has six chapters around the country who have invested $150 million in 105 companies since it was founded in 2005. Loretta McCarthy, Golden Seeds’ managing partner, says the need for the organization … Continue reading “Golden Seeds Seeks to Plant Angel Funds For Women Founders in Houston”
GE Sheds Health IT Assets for $1B, Doubles Down on A.I. and Devices
General Electric is selling a chunk of its healthcare IT business to New York private equity firm Veritas Capital for $1.05 billion in cash, as GE (NYSE: [[ticker:GE]]) chief executive John Flannery aims to streamline the Boston-based industrial behemoth and reverse a steep decline in its stock price. Veritas has agreed to acquire GE Healthcare’s … Continue reading “GE Sheds Health IT Assets for $1B, Doubles Down on A.I. and Devices”
Getting Personal: Retailers Use New Tech to Court Individual Shoppers
“Personalized shopping” has long been the guiding light for retailers. But in the age of Amazon (NASDAQ: [[ticker:AMZN]]), traditional stores have been searching for the best way to digitize what was once a person-to-person process. “Internet shopping is now across mobile and Web, and now, the [question] is, ‘How do we create great experiences for … Continue reading “Getting Personal: Retailers Use New Tech to Court Individual Shoppers”
Macrolide Pharma Raises $20M, Names Former Intarcia Exec Karande CEO
Macrolide Pharmaceuticals has a new chief executive to spearhead the company’s antibiotics development efforts, which are now backed by $20 million in fresh capital. Mahesh Karande is taking the helm of Watertown, MA-based Macrolide as president and CEO. He most recently served as vice president and general manager of Intarcia Therapeutics, based in Boston. Karande’s … Continue reading “Macrolide Pharma Raises $20M, Names Former Intarcia Exec Karande CEO”
FDA Refuses Review of Alkermes Depression Drug, Wants More Trials
An Alkermes depression drug has stalled at the FDA after the regulator concluded that the company must provide more information, including additional data from new clinical trials. Alkermes (NASDAQ: [[ticker:ALKS]]) said Monday that it has received a “refusal to file” letter for ALKS 5461, the company’s drug for treating major depressive disorder. Such letters let … Continue reading “FDA Refuses Review of Alkermes Depression Drug, Wants More Trials”
Bio Roundup: Biotech IPOs, Migraine Progress, Takeda Woos Shire & More
If the recent IPO activity seems to be on overdrive, it’s not your imagination. The number of companies filing to go public in the U.S. in the first quarter was up 44 percent compared to the same period a year ago, according to data compiled by consulting and accounting firm EY. Life science companies accounted … Continue reading “Bio Roundup: Biotech IPOs, Migraine Progress, Takeda Woos Shire & More”
Boston Tech Watch: ICO Shutdowns, MIT Media Lab Fund, Webb’s New Gig
Here are some of the latest headlines in Boston-area tech: —Massachusetts Secretary of State William Galvin’s office said it put a stop to “initial coin offerings” by five companies based here, saying that they violated securities laws. That action follows the January filing of administrative charges against another company, Caviar, claiming its ICO was an … Continue reading “Boston Tech Watch: ICO Shutdowns, MIT Media Lab Fund, Webb’s New Gig”
Unum Therapeutics IPO Raises $69M to Test Universal Cell Therapies
Unum Therapeutics is the latest biotechnology company to take the plunge into the public markets, raising $69.2 million that it plans to use to fund more clinical tests of its experimental cancer treatments. The Cambridge, MA, company priced its initial public stock offering of 5.77 million shares at $12 each, which was on the low … Continue reading “Unum Therapeutics IPO Raises $69M to Test Universal Cell Therapies”
The Edge or the Cloud? It Depends on the App
There’s no arguing that the cloud has transformed the way organizations deal with data and apps. It has freed IT departments from constantly provisioning and managing storage, while bringing overall costs down. For these reasons and more, companies everywhere are moving more and more data and compute tasks to the cloud every day. It’s important, … Continue reading “The Edge or the Cloud? It Depends on the App”
Among Facebook’s Woes, EU’s Strict Privacy Laws May Loom Largest
In a continuing effort to regain the trust of its disillusioned users, Facebook on Wednesday announced new privacy controls where settings can be made from a central menu, rather than by tunneling through as many as 20 screens. As Facebook unveiled the sweeping revisions, though, it also made a striking admission: The company knew it … Continue reading “Among Facebook’s Woes, EU’s Strict Privacy Laws May Loom Largest”
Going Downhill: Roam Robotics’ Exoskeleton Supports Aging Skiers
Robotics has found its way to the ski slopes. San Francisco-based Roam Robotics has developed an exoskeleton, worn on the legs, that the company says will improve skiers’ endurance and safety while they blaze down trails. For skiers 45 or older, Roam says, the exoskeleton can provide vital support for aging knees that might be … Continue reading “Going Downhill: Roam Robotics’ Exoskeleton Supports Aging Skiers”
Saver Rate Ending—Grab Your Ticket to Robo Madness 2018: Homecoming
Grab your ticket to attend Xconomy’s fourth annual Robo Madness event, which was a total sellout last year. Leaders in robotics and artificial intelligence will discuss smart home technologies, progress in driverless vehicles, investment and startup strategies, and more. Join us on April 12 at iRobot in Bedford, MA, to look at how robots and … Continue reading “Saver Rate Ending—Grab Your Ticket to Robo Madness 2018: Homecoming”