Data-crunching algorithms have become a popular—and controversial—tool on Wall Street in recent years. Now, they’re starting to be used to guide investments in cryptocurrencies, too. The emerging strategy raises a number of interesting questions for the young and volatile cryptocurrency market. Among them: What types of data should be considered when trying to predict the … Continue reading “Flipside Crypto Grabs $3.4M to Push Algorithms for Crypto Investing”
Category: Boston
No Data Yet, But Homology Upsizes IPO and Raises $144M
Homology Medicines, a company trying to leapfrog existing gene editing developers, has raised $144 million in an IPO that will help fund its first clinical trials. Bedford, MA-based Homology (NASDAQ: [[ticker:FIXX]]) priced its offering and sold 9 million shares at $16 apiece. Homology had planned to sell 7.6 million shares at $14 to $16 each. … Continue reading “No Data Yet, But Homology Upsizes IPO and Raises $144M”
Diane Hessan Seeks Common Ground in Era of Fake News and Facebook
When I sit down with Diane Hessan for a recent conversation, the entrepreneur, startup investor, and budding political researcher is nothing but hearty laughs, cool optimism, and earnest passion about her work. That’s despite having spent the past year and a half corresponding with hundreds of American voters on a weekly basis, during one of … Continue reading “Diane Hessan Seeks Common Ground in Era of Fake News and Facebook”
Are You Being Deliberate About Diversity in Your Investment Portfolio?
“We looked, but we couldn’t find any companies to acquire led by women or founders of color.” “I want to hire diverse talent, but it’s impossible to find.” “It’s not my fault that the financial sector doesn’t have a more varied talent pool or deals to make with non-white males.” I have heard all of … Continue reading “Are You Being Deliberate About Diversity in Your Investment Portfolio?”
FTC Opens New Probe: Revisits Its Old Charges On Facebook Privacy Practices
Among the host of legal woes Facebook is now confronting amid news about the misuse of its member profiles in election politics: The Federal Trade Commission revealed Monday that it is investigating the social media giant’s privacy practices. The FTC decision comes in the wake of recent reports about the ease with which political consulting … Continue reading “FTC Opens New Probe: Revisits Its Old Charges On Facebook Privacy Practices”
EY Report Suggests Improving Conditions for U.S. IPOs in 2018
U.S. IPO activity has been ticking up, with 36 IPOs raising more than $12.7 billion in the United States so far this year, according to data released Monday by EY, the global consulting and accounting firm. Although there are still several days remaining in the first quarter of 2018, EY reports the number of first-quarter … Continue reading “EY Report Suggests Improving Conditions for U.S. IPOs in 2018”
Surface Oncology Plans IPO to Advance Clinical Tests of Cancer Drug
Cancer continues to be a big area of investor interest and Surface Oncology now aims to tap into that with an initial public stock offering that the company hopes will finance tests of its lead immuno-oncology drug. Surface set a preliminary $75 million goal for the stock offering, according to documents filed with securities regulators … Continue reading “Surface Oncology Plans IPO to Advance Clinical Tests of Cancer Drug”
General Catalyst Bags $1.4B for Ninth Fund as Tech Investors Go Big
[Updated 3/27/18, 10:27 am. See below.] General Catalyst Partners is the latest venture capital firm to join the billion dollar fund club. The Cambridge, MA-based firm’s latest fund—its ninth—clocked in at $1.375 billion, according to a document filed with the SEC. That’s a significant jump from its last fundraising effort two years ago, when General … Continue reading “General Catalyst Bags $1.4B for Ninth Fund as Tech Investors Go Big”
Racing Allergan, Biohaven Touts Migraine Drug Data, But Shares Sink
Biohaven Pharmaceuticals has become the latest to head to the FDA seeking approval of a new type of migraine drug. But it’s unclear whether the treatment, rimegepant, will stand out amidst a crowd of new medicines aiming to help people fend off the debilitating headaches after they start. Biohaven (NYSE: [[ticker:BHVN]]), of New Haven, CT, … Continue reading “Racing Allergan, Biohaven Touts Migraine Drug Data, But Shares Sink”
Ada-AI Seeks to Build a Diverse Artificial Intelligence Community
Artificial intelligence innovation has become part of our everyday lives—retailers use it to tailor the product recommendations they make; biotech companies hope it can create customized medicine. But its shortcomings, born of human biases, are becoming apparent as well. Take, for example, facial recognition technologies that work best on white people and make the most … Continue reading “Ada-AI Seeks to Build a Diverse Artificial Intelligence Community”
Founders, Pay Attention to This Stuff—Not the Stock Market
The Dow Jones Industrial Average. Nasdaq. Startup exits. Funding rounds. In our 24/7 connected world, there’s no shortage of data you can access, study, and agonize over. The market’s latest move—from boom to correction—has commentators and analysts in a tizzy; many investors are feeling anxious, too. It’s easy to get distracted by all this chatter, … Continue reading “Founders, Pay Attention to This Stuff—Not the Stock Market”
Bio Roundup: CMS Backs Cancer Tests, Right to Try Passes, AbbVie Sinks
We’ll start this week’s roundup with several stories from Washington, DC, that could have a lasting effect on public health. The FDA continued its campaign against cigarettes, while the Centers for Medicare & Medicaid Services (CMS) gave a much-needed boost to the developers of cancer diagnostics. In its omnibus spending bill, Congress set aside more … Continue reading “Bio Roundup: CMS Backs Cancer Tests, Right to Try Passes, AbbVie Sinks”
Boston Tech Watch: Desktop Metal, Nuance, Zagster, Elephant & More
[Updated 3/24/18, 1:38 pm. See below.] This week in Boston tech, we’re tracking a 3D printing rivalry now headed to court, layoffs at a local bike-sharing startup, a leadership transition, more money for two venture capital firms, and an investment in a stealthy startup that appears to have MIT ties. Read on for details. —Burlington, … Continue reading “Boston Tech Watch: Desktop Metal, Nuance, Zagster, Elephant & More”
YouTube Limits Firearms Videos; Gun Rights Group Cries Censorship
YouTube has broadened its restrictions on gun-related videos, while thousands of Americans are mobilizing to demand stricter gun controls Saturday in a mass march spurred by young survivors of a deadly armed attack on a Florida high school last month. Google’s popular video-hosting site will bar videos that facilitate direct sales of firearms or accessories, … Continue reading “YouTube Limits Firearms Videos; Gun Rights Group Cries Censorship”
Salim Yazji Joins PMV Pharma as Chief Medical Officer
PMV Pharmaceuticals has appointed Salim Yazji to serve as chief medical officer of the Cranbury, NJ, cancer drug developer. Yazji most recently worked at Calimmune, where he was executive vice president and chief medical officer. Yazji will be based in the Boston area, where PMV is opening a site for its clinical and regulatory operations. … Continue reading “Salim Yazji Joins PMV Pharma as Chief Medical Officer”
AbbVie Shares Plummet as $5.8B Bet on Stemcentrx Takes a Hit
There is still a chance that AbbVie’s $5.8 billion gamble on acquiring Stemcentrx, a privately held developer of cancer stem cell drugs, could pay off. But the deal’s prospects dimmed this morning with news that Stemcentrx’s lead drug disappointed in clinical testing, sending shares of Chicago-based AbbVie down. AbbVie (NYSE: [[ticker:ABBV]]) said that it won’t … Continue reading “AbbVie Shares Plummet as $5.8B Bet on Stemcentrx Takes a Hit”
Join Xconomy as We Bring Back the NY Biotech Expats on June 21
Here’s a question posed time and again by the those toiling away to build up New York’s biotech scene: What if we could just bring back the biopharma veterans who grew up here? You can call them the New York expats. They started out in Brooklyn, Queens, the Bronx, but like many others before them, … Continue reading “Join Xconomy as We Bring Back the NY Biotech Expats on June 21”
After Decades of R&D, Bose Amps Up VC Deals in AR, Wearables, Wellness
[Updated 3/22/18, 1:14 pm. See below.] For the first 50 years of its existence, Bose Corporation invested primarily in in-house research and development to produce its lineup of high-end headphones, speakers, and other audio technologies. Bose’s Steve Romine says that’s still an important focus for the Framingham, MA-based company, which has been awarded hundreds of … Continue reading “After Decades of R&D, Bose Amps Up VC Deals in AR, Wearables, Wellness”
Rheos Medicines Launches, Backed by $60M for Immunometabolism R&D
Though many people understand metabolism as the process of converting food into the energy the body needs, it also plays a key role in how immune cells work. A growing body of evidence is revealing ways that adjusting metabolism at the cellular level could help immune cells treat disease. “You can get immune cells to … Continue reading “Rheos Medicines Launches, Backed by $60M for Immunometabolism R&D”
At Opioid Hearing, BIO Exec Proposes Ways to Boost Pain Drug Development
After months of meetings and Congressional hearings on the unrelenting opioid addiction crisis, Congress has finally responded, with 25 bills that aim to attack the problem from all sides. The House Energy and Commerce Committee began two days of hearings on Wednesday that reviewed the draft legislation that lawmakers want to get to the House … Continue reading “At Opioid Hearing, BIO Exec Proposes Ways to Boost Pain Drug Development”
Hungry for Innovation, Big Food Firms Seek Alliances With Startups
Big Food is getting serious about innovation. Many top food companies are increasingly pumping money into supporting young, innovative startups, according to a recent analysis by CB Insights. The firms include stalwarts like Kraft Heinz (NASDAQ: [[ticker:KHC]]), which has an incubator and accelerator program called Springboard, and relative newcomers like the Greek-style yogurt maker Chobani, … Continue reading “Hungry for Innovation, Big Food Firms Seek Alliances With Startups”
MIT Team Says Facebook Profiles Could Still Be Stolen, At Scale
If your personal Facebook profile isn’t among the 50 million allegedly pilfered by the political consulting firm Cambridge Analytica, could another company still scrape it up, along with many others? A policy research team from MIT’s Computer Science and Artificial Intelligence Laboratory (CSAIL) says yes. In a blog post published today, three MIT graduate students … Continue reading “MIT Team Says Facebook Profiles Could Still Be Stolen, At Scale”
Affectiva Launches A.I. Tech to Help Cars Sense Your Emotions
Efforts to develop self-driving vehicles have largely focused on tracking what’s going on outside the cars—think laser-based sensors to track other vehicles and digital mapping technologies to help navigate. Now, the industry is turning some of its attention to technologies that sense what’s going on inside the vehicle. An initial goal is to better monitor … Continue reading “Affectiva Launches A.I. Tech to Help Cars Sense Your Emotions”
TCR² Raises $125M to Move Ahead with Its Cell Therapy, CAR-T’s Cousin
TCR² Therapeutics has raised a $125 million Series B round to push ahead with live, cancer-fighting T cells. T cell receptor (TCR) therapies, the firm’s area of focus, have not progressed as far as higher-profile CAR-T treatments, despite similarities. Few TCRs have advanced into clinical studies, while two CAR-T cell therapies, one from Novartis (NYSE: … Continue reading “TCR² Raises $125M to Move Ahead with Its Cell Therapy, CAR-T’s Cousin”
Uber’s Driverless Fatality Sparks Fallout and Finger-Pointing
The fallout from Uber’s autonomous car fatality continues today, with a number of new developments. We’re recapping them very quickly here, and adding two reaction quotes we received from Carrie Morton, deputy director of the University of Michigan’s Mcity research facility and test bed, and Shahin Farshchi, a partner at Lux Capital, a Silicon Valley … Continue reading “Uber’s Driverless Fatality Sparks Fallout and Finger-Pointing”
AI Chip Startup Mythic Reaps $40M from SoftBank, Lockheed Venture Arms
Mythic, which last year unveiled its novel computer chip designed for artificial intelligence, announced today that it has raised $40 million in a Series B fundraising round led by the venture capital arm of Japanese telecom and tech giant SoftBank. Mythic, based in both Redwood City, CA, and Austin, TX, is one of the upstart … Continue reading “AI Chip Startup Mythic Reaps $40M from SoftBank, Lockheed Venture Arms”
Uber Suspends Driverless Testing After Fatal Accident in Arizona
The inevitable has happened. An autonomous Uber car hit a pedestrian in Tempe, AZ, and caused her death. The ride-hailing giant has suspended testing on driverless cars in Arizona, Pittsburgh, San Francisco, and Toronto, according to the New York Times. This is the first known death of a pedestrian caused by a self-driving car on … Continue reading “Uber Suspends Driverless Testing After Fatal Accident in Arizona”
Job Destroyers or Helpers? Amazon, FedEx Hiring More Robots & Humans
Advances in robotics and artificial intelligence technologies have stoked fears that machines are coming for humans’ jobs in a variety of industries. Some executives of robotics companies have tried to allay those concerns, arguing that in many cases, people’s roles will evolve, but technology won’t eliminate their jobs completely. A report by The New York … Continue reading “Job Destroyers or Helpers? Amazon, FedEx Hiring More Robots & Humans”
Ford Leads $65M Round for 3D Printing Startup Desktop Metal
Desktop Metal, the well-funded metal 3D-printing startup, is adding more money to its coffers from another high-profile investor. Ford has led a new $65 million investment round in Burlington, MA-based Desktop Metal, the company announced Monday. Earlier backer Future Fund also contributed to the round. Ford chief technology officer Ken Washington is joining Desktop Metal’s … Continue reading “Ford Leads $65M Round for 3D Printing Startup Desktop Metal”
CMS Starts to Cover Broad Cancer DNA Tests, Boosting Foundation, Thermo
The Centers for Medicare & Medicaid Services, which administers the federal Medicare insurance program, will begin covering FDA-approved diagnostic tests that scan tumors for a range of genetic mutations. The news is a boost for companies like Foundation Medicine and Thermo Fisher Scientific, who are among the few firms with such tests on the market. … Continue reading “CMS Starts to Cover Broad Cancer DNA Tests, Boosting Foundation, Thermo”
Five Unlikely Competitors in the Race for Driverless Cars: Slideshow
Now that we know autonomous vehicles are going to be a real thing, we are watching an entirely new industry unfold. Because of the sweeping societal changes that self-driving cars are likely to bring—they’ll change transportation the most, but also could affect the way we care for the elderly, live in our homes, deliver goods … Continue reading “Five Unlikely Competitors in the Race for Driverless Cars: Slideshow”
Join Feng Zhang, Eric Lander, Craig Mello & More at What’s Hot in Boston Biotech
Time is running out to take advantage of the super saver discount for “What’s Hot in Boston Biotech” on May 16. The forum will take place at The Broad Institute of MIT & Harvard in Cambridge, MA. Several biomedical milestones were achieved in 2017, among them the long-awaited scientific validation of RNA interference, and the … Continue reading “Join Feng Zhang, Eric Lander, Craig Mello & More at What’s Hot in Boston Biotech”
Alzheon Files for IPO to Fund Studies of Amyloid Alzheimer’s Drug
Alzheon is turning to the public markets to finance a new round of testing for its experimental Alzheimer’s disease drug. The Framingham, MA, company set a preliminary $80 million target for its initial public stock offering. That figure is expected to change as Alzheon determines how many shares to sell and at what price. But … Continue reading “Alzheon Files for IPO to Fund Studies of Amyloid Alzheimer’s Drug”
After Quiet Deal, Music Therapy Startup Sync Project Now Part of Bose
A quick update on an intriguing Boston startup: Sync Project, which said on its blog that it is “developing music as precision medicine,” has been acquired by audio giant Bose. The deal was quietly announced last month, and no terms were disclosed. Sync Project said its public services would remain open and free to use, … Continue reading “After Quiet Deal, Music Therapy Startup Sync Project Now Part of Bose”
Bio Roundup: DIY Biohacking, PCSK9 Data, Solid Setback & More
Drug prices are top of mind for many patients. Some of them have to cut back on basic needs just to pay for treatments that seem to rise in price each year. That made a recent announcement by Regeneron Pharmaceuticals particularly unusual. The Tarrytown, NY, drugmaker plans to cut the price of its cholesterol-lowering drug … Continue reading “Bio Roundup: DIY Biohacking, PCSK9 Data, Solid Setback & More”
Harnessing the Power of Artificial Intelligence
Voice recognition lets people benefit from artificial intelligence (AI) almost without a second thought – and this technology is increasingly popular. Amazon had record sales of its Alexa device last year, with millions sold over the holiday season. Google reports that since last October, it has sold at least one Google Home smart speaker every … Continue reading “Harnessing the Power of Artificial Intelligence”
Boston Tech Watch: Raytheon, Palantir, CyberArk, CIC, Nectome & More
[Updated 3/16/18, 8:59 am. See below.] Here are some notable recent headlines from the Boston-area tech scene, including Raytheon and Palantir teaming up for a huge Army contract, another CyberArk acquisition, and a startup that wants to digitally archive your mind. Read on for details. —Waltham, MA-based defense contractor Raytheon (NYSE: [[ticker:RTN]]) and Palantir Technologies—the … Continue reading “Boston Tech Watch: Raytheon, Palantir, CyberArk, CIC, Nectome & More”
Julie Hambleton Named Ideaya Biosciences Chief Medical Officer
Cancer drug developer Ideaya Biosciences has appointed Julie Hambleton to serve as senior vice president and chief medical officer, head of development. Hambleton most recently worked at Bristol-Myers Squibb (NYSE: [[ticker:BMY]]) where she was a vice president and head of the company’s U.S. medical operations. Her experience also includes executive posts at Five Prime Therapeutics … Continue reading “Julie Hambleton Named Ideaya Biosciences Chief Medical Officer”
Anika Therapeutics’ Sherwood Retires as CEO, Darling Named Successor
Charles Sherwood, CEO of Anika Therapeutics (NASDAQ: [[ticker:ANIK]]), is retiring from the company and its board of directors after nearly 20 years. Joseph Darling, Anika’s president, will succeed Sherwood as CEO of the Bedford, MA company. Darling, who came to Anika last July, will also join the company’s board of directors. Anika develops and markets … Continue reading “Anika Therapeutics’ Sherwood Retires as CEO, Darling Named Successor”
Inclusion Gets Real: A New Level of Diversity Discourse at SXSW
Austin—There’s no question that humans have plenty of biases that carry on from generation to generation, from sexism to racism to homophobia. Those problems have carried over to machines, too—bias in the data fed to computer algorithms is an issue that comes up often. Former Stanford computer science professor Daphne Koller recalled an anecdote she … Continue reading “Inclusion Gets Real: A New Level of Diversity Discourse at SXSW”
Ionis Sends Nerve Drug to Spinout Akcea as Battle with Alnylam Looms
Ionis Pharmaceuticals hasn’t gone far to find a new home for a therapy that could soon be one of two approved treatments for a rare neurodegenerative disease called transthyretin amyloidosis. It’s handing the drug, known as inotersen, to its own spinout, Akcea Therapeutics. In a deal being announced this morning, Cambridge, MA-based Akcea (NASDAQ: [[ticker:AKCA]]) … Continue reading “Ionis Sends Nerve Drug to Spinout Akcea as Battle with Alnylam Looms”
Xconomy’s Napa Summit Is June 14-15: Request Your Invite Today!
Year after year, Xconomy has gathered exemplary business leaders, investors, and far-seeing technologists to our most prestigious event—The Napa Summit. This year is no different. Come join us in the heart of wine country on June 14 and 15 to listen to visionary speakers and connect with fellow innovators. The Napa Summit is by invitation-only, … Continue reading “Xconomy’s Napa Summit Is June 14-15: Request Your Invite Today!”
Mighty AI’s Training Data Helps Mcity Drive Mobility Projects Faster
Last June, when Seattle-based startup Mighty AI opened a second office in Detroit, the company said it chose the Motor City over Silicon Valley because of its proximity to automotive customers and a firm belief in the future of autonomous navigation. Mighty AI has just deepened its ties to the Great Lakes State with the … Continue reading “Mighty AI’s Training Data Helps Mcity Drive Mobility Projects Faster”
Solid Discloses More Problems As FDA Halts Duchenne Gene Therapy Study
Solid Biosciences recently completed a big IPO despite disclosing, last-minute, that the FDA had partially suspended a clinical test of its gene therapy for Duchenne muscular dystrophy. Less than two months later, the company has reported a new, and more ominous finding: the FDA has halted testing of the treatment, known as SGT-001, altogether. Cambridge, … Continue reading “Solid Discloses More Problems As FDA Halts Duchenne Gene Therapy Study”
Walmart Expands Same-Day Delivery, Looks to Match Amazon
At the National Retail Federation’s annual conference in January, Walmart CEO Doug McMillon called the Arkansas-based, big-box retailer a technology company. On Wednesday, Walmart (NYSE: [[ticker:WMT]]) moved to make that assertion more of a reality: upping the number of cities where it provides same-day delivery to 100 cities from six—serving about 40 percent of American households … Continue reading “Walmart Expands Same-Day Delivery, Looks to Match Amazon”
Ex-Imprivata CEO Takes Helm at Placester, Upping IPO Stakes
[Updated 3/14/18, 5:35 pm. See below.] It’s a common tale in the startup world: A founding CEO builds the company, and eventually a more seasoned executive is brought in to lead the business to (ideally) new heights. That’s the play Placester is making. The Boston-based real estate software company announced Wednesday that it hired Omar … Continue reading “Ex-Imprivata CEO Takes Helm at Placester, Upping IPO Stakes”
Goldfinch Bio Names Peter Mundel Chief Scientific Officer
Goldfinch Bio has appointed Peter Mundel to serve as chief scientific officer of the Cambridge, MA, kidney disease drug developer. Mundel, a nephrologist, comes to Goldfinch from Massachusetts General Hospital and Harvard Medical School, where his research focused on developing treatments for kidney diseases. He was also a consultant to Third Rock Ventures, the venture … Continue reading “Goldfinch Bio Names Peter Mundel Chief Scientific Officer”
DraftKings CEO on Failed Merger, IPO Plans, Sports Betting Prospects
DraftKings has been busy since its proposed merger with FanDuel was scrapped last summer, after the two daily fantasy sports rivals decided not to fight a federal agency’s antitrust challenge to the deal. Boston-based DraftKings has since made a series of small moves to expand its business beyond its core paid daily fantasy sports contests. … Continue reading “DraftKings CEO on Failed Merger, IPO Plans, Sports Betting Prospects”
No Self-Editing: Biohacker Josiah Zayner Can’t Stop Living Out Loud
Gene editing has arrived. Of the various forms of the technology, CRISPR-Cas9 is the easiest to use, and it’s already showing up in summer camps and school science labs near you. That would be middle schools. When everyone can edit an organism’s genes, how will the world change? Should we be worried? National security officials … Continue reading “No Self-Editing: Biohacker Josiah Zayner Can’t Stop Living Out Loud”
Too Many Venture Capital Cooks in the Kitchen?
At Correlation Ventures, we spend a fair amount of time using our proprietary database to identify the telltale signs of successful startups. One question we asked recently is whether there are diminishing returns for adding VCs to the board of directors at venture-backed startups. Many of us have seen highly effective boards where experienced and … Continue reading “Too Many Venture Capital Cooks in the Kitchen?”