Austin—The future of artificial intelligence and its applications for businesses, consumers, and life in general remain murky. Last year at South by Southwest, prognosticator Ray Kurzweil discussed his prediction that A.I. would have human-level intelligence by 2029. This year, Adam Cheyer, the co-founder of Siri, said he thinks it’ll take a bit longer. “In my … Continue reading “A.I. Is Advanced, But Decades From Singularity and Elon Musk’s Fears”
Category: Boston
The Minority Venture Capital Opportunity
This year marks the 30th Anniversary of the historic billion-dollar leveraged buyout of Beatrice Foods, put together by African-American business pioneer Reginald Lewis. As recently profiled in the PBS Documentary “Reginald Lewis and the Making of a Billion Dollar Empire,” Lewis was a business icon who paved the way for minority investors to ascend to … Continue reading “The Minority Venture Capital Opportunity”
Former Otonomy CSO LeBel Joins Frequency Therapeutics as Executive VP
Frequency Therapeutics has appointed Carl LeBel to serve as executive vice president of clinical development of the Woburn, MA, company. LeBel most recently worked for San Diego-based ear medicines company Otonomy, where he was chief scientific officer from 2009 through 2016. Frequency’s lead drug for hearing loss, FX-322, is expected to begin Phase 2 studies … Continue reading “Former Otonomy CSO LeBel Joins Frequency Therapeutics as Executive VP”
Aquent Founder Pumps $100M Into Recruiting Marketplace Scout Exchange
In today’s job market, as U.S. hiring rises and the unemployment rate remains low, it’s even more important for employers to quickly find the right candidates to fill positions. That could spell more demand for recruiting websites like Scout Exchange—and investors are betting big on the Boston startup. Scout Exchange announced today that it has … Continue reading “Aquent Founder Pumps $100M Into Recruiting Marketplace Scout Exchange”
Biogen to Acquire Phase 2-Ready Schizophenia Drug from Pfizer
Biogen is entering neuropsychiatry drug development with a deal to acquire a schizophrenia drug candidate from Pfizer. Cambridge, MA-based Biogen (NASDAQ: [[ticker:BIIB]]) is paying Pfizer $75 million up front for the drug, PF-04958242. Pfizer (NYSE: [[ticker:PFE]]) stands to gain as much as $515 million more if the drug hits development and commercialization milestones. If Biogen … Continue reading “Biogen to Acquire Phase 2-Ready Schizophenia Drug from Pfizer”
Despite Pharma Ties, Some Patient Groups Protest High Drug Prices
For 20 years, Deborah Long (pictured) has been relying on powerful drugs to keep her multiple sclerosis in check. Her out-of-pocket costs were pretty reasonable until two years ago, she says, when she had to switch insurance companies. Her new insurer made her switch to a different drug, Copaxone. When she tried to fill the … Continue reading “Despite Pharma Ties, Some Patient Groups Protest High Drug Prices”
Regeneron to Slash Price of Cholesterol Drug After Showing It Saved Lives
Regeneron Pharmaceuticals and partner Sanofi report new data this morning from a large, highly-anticipated trial suggesting that their drug alirocumab (Praluent) may reduce the risk of death for people with high cholesterol who have recently suffered heart attacks or strokes and are at risk of having another one or dying. And in an unusual move, Regeneron—based … Continue reading “Regeneron to Slash Price of Cholesterol Drug After Showing It Saved Lives”
Froedtert Provides Patients with Symptom Checker from Boston Startup
Froedtert & the Medical College of Wisconsin says it’s made an online symptom checker developed by a Massachusetts startup available to patients who receive care at the Milwaukee-based hospital and clinic network. The new tool for Froedtert patients is from Buoy Health. The Boston-based company has developed an online chatbot that searches through thousands of … Continue reading “Froedtert Provides Patients with Symptom Checker from Boston Startup”
“Pharma Bro” Martin Shkreli Gets Seven Years for Securities Fraud
Outspoken former pharmaceutical executive Martin Shkreli will serve seven years in prison, a sentence handed down Friday following securities fraud convictions related to two hedge funds and a drug company that he once ran. The judge in the case said Shkreli will receive credit for time served since September, when his bail was revoked, Bloomberg … Continue reading ““Pharma Bro” Martin Shkreli Gets Seven Years for Securities Fraud”
Price Check on Aisle 3: Grocers Use A.I., Devices to Battle Amazon
[Updated 3/13/18 1:07 pm. See below.] If a shopper interacts with technology in a typical grocery store, it’s usually at the very end—as they are paying for their items. That could be about to change, though. “Scanning loyalty cards at checkout is a lost opportunity,” says Eliahu Sussman, marketing manager at Aila Technologies, a Boston-area maker … Continue reading “Price Check on Aisle 3: Grocers Use A.I., Devices to Battle Amazon”
Bio Roundup: Trump Health, Cholesterol Wars, 23andMe OK & More
Trump administration health officials were out on the stump this week, talking tough about drug prices and healthcare value, encouraging the private sector to take the lead but letting everyone know the federal government is willing to push. In the debate over high drug prices, arguably no class of drug has been punished more by … Continue reading “Bio Roundup: Trump Health, Cholesterol Wars, 23andMe OK & More”
Boston Tech Watch: Akamai, Zuckerberg, Firecracker, Luminoso & More
[Updated 3/9/18, 2:30 pm. See below.] Here are some of the latest headlines from the Boston-area tech scene: —Wolters Kluwer Health said it reached a deal to acquire Firecracker, a Boston-based company that sells software that helps medical students prepare for exams. The purchase price wasn’t disclosed. Nine-year-old Firecracker has 16 employees, according to a … Continue reading “Boston Tech Watch: Akamai, Zuckerberg, Firecracker, Luminoso & More”
MIT Sloan CIO Symposium
Information and registration here. The 2018 MIT Sloan CIO Symposium invites global business leaders to up their digital game from vision to execution. Learn from MIT academics, leading CIOs, senior executives, and industry experts about shaping a clear vision that encompasses emerging and evolving technologies like AI, big data, IoT, cybersecurity, blockchain, and cloud. Attendees … Continue reading “MIT Sloan CIO Symposium”
Rosana Kapeller Leaves Nimbus, Seeks “Executive Leadership Role”
Rosana Kapeller has resigned her position as chief scientific officer of Cambridge, MA, biotech company Nimbus Therapeutics. The company said in a news release that she is leaving to “explore an executive leadership role.” Kapeller was one of the founders of Nimbus, which was initially called Nimbus Discovery to reflect its focus on computer-aided drug … Continue reading “Rosana Kapeller Leaves Nimbus, Seeks “Executive Leadership Role””
After Escher Exit, MIT Sandbox Aims to Mold More Student Startups
[Editor’s note: This is part of a series of stories examining entrepreneurship on MIT’s campus and beyond.] When Escher Reality announced in February that it had been acquired by Niantic, the augmented reality company that created Pokémon Go, it was a big win for the young, six-person startup born at MIT. It also provided some … Continue reading “After Escher Exit, MIT Sandbox Aims to Mold More Student Startups”
Prevail Gets $75M For Parkinson’s Gene Therapy, Bolstering NY Biotech
A potential gene therapy for Parkinson’s disease has just gotten a big boost thanks to one of the larger Series A investment rounds in years for a New York biotech. The funding, for Prevail Therapeutics, provides another jolt for the city’s life science startup scene. The startup, seeded in New York last year by OrbiMed … Continue reading “Prevail Gets $75M For Parkinson’s Gene Therapy, Bolstering NY Biotech”
Cyteir Bags $29M to Tap “Self Destruct” in Cancers, Immune Diseases
The rapid growth of cancer cells actually damages them, leading them to rely on internal repair mechanisms. Scientists are finding ways to disrupt these repair features to fight the disease, and their research is leading to a growing crop of startups. Among them: Cambridge, MA-based Cyteir Therapeutics, which has just raised $29 million from Venrock, … Continue reading “Cyteir Bags $29M to Tap “Self Destruct” in Cancers, Immune Diseases”
Robo Madness 2018 on April 12: Here’s the Agenda
Are you ready for the storm? Not that storm, this storm: Robo Madness 2018 is just over a month away. It’s Xconomy’s annual gathering of robotics and artificial intelligence leaders from Boston and beyond, and it’s all happening on the afternoon of April 12 at iRobot headquarters in Bedford, MA. This year’s theme is homecoming—robotics … Continue reading “Robo Madness 2018 on April 12: Here’s the Agenda”
Nonprofit Odylia Wants to Resurrect Stranded Gene Therapies
Luk Vandenberghe calls it a “sad irony.” After decades of ups and downs, gene therapy, which offers a long-lasting genetic fix for a disease, has arrived. A product from Spark Therapeutics called Luxturna, for a rare, inherited type of vision loss, recently became the first-ever approved gene therapy in the U.S., adding to two others … Continue reading “Nonprofit Odylia Wants to Resurrect Stranded Gene Therapies”
S&P Global Snaps Up Kensho for $550M as Wall Street Adopts A.I.
S&P Global plans to acquire Kensho Technologies for $550 million in a deal that demonstrates the increasing importance of data analytics and machine learning technologies on Wall Street. The acquisition price includes an unspecified mix of cash and stock, and is net of cash acquired, S&P Global (NYSE: [[ticker:SPGI]]) said in a press release. Artificial … Continue reading “S&P Global Snaps Up Kensho for $550M as Wall Street Adopts A.I.”
Esperion Touts Low Cholesterol Drug Price, But Not All Data are Ready
The cholesterol brawl is heating up again. A pair of next-generation cholesterol-lowering drugs known as PCSK9 inhibitors came to market in 2015 and have since struggled to gain traction. Now Ann Arbor, MI-based biotech Esperion Therapeutics (NASDAQ: [[ticker:ESPR]]) thinks it can do with a once-a-day pill called bempedoic acid what the PCSK9 blockers have not: … Continue reading “Esperion Touts Low Cholesterol Drug Price, But Not All Data are Ready”
Five Questions For: Melinda Richter, Global Head at JLabs
Healthcare innovation is very personal for Melinda Richter. She was an ambitious 26-year-old, posted by a global telecom company to Beijing as part of its fast-track leadership program. “I had the express intent of being president one day,” she says. “I thought I had the world by the tail.” But during a walk in the … Continue reading “Five Questions For: Melinda Richter, Global Head at JLabs”
Pixability Taps Ex-Facebook Exec as CEO, Founder Takes Board Role
Bettina Hein is stepping down as CEO of Pixability, the Boston-based video advertising software company she founded a decade ago. David George is taking the helm of Pixability, and Hein (pictured) will shift to the role of executive chairwoman, the company announced Tuesday. According to George’s LinkedIn profile, he was previously Facebook’s (NASDAQ: [[ticker:FB]]) head … Continue reading “Pixability Taps Ex-Facebook Exec as CEO, Founder Takes Board Role”
As Apple Takes Lead in Wearables, Whoop Grabs $25M to Expand
Whoop took a different approach to try and break into the crowded wearable device market: Start by winning over professional athletes, then gradually expand sales to a wider array of consumers. The Boston-based startup, which unveiled its biometrics-monitoring wristbands two-and-a-half years ago, has had success with the first goal. Now, it says it’s making progress … Continue reading “As Apple Takes Lead in Wearables, Whoop Grabs $25M to Expand”
May Mobility CEO: We’ll Beat Waymo, Uber, and Cruise to Market
When we spoke with Ed Olson, CEO of May Mobility, in January, he told us that his driverless-vehicle company had raised a little over $11 million in seed funding in 2017. Last week, May disclosed more details about its $11.5 million seed round: it was led by venture investment arms of Toyota and BMW, and … Continue reading “May Mobility CEO: We’ll Beat Waymo, Uber, and Cruise to Market”
Unum, Homology Plan IPOs, as Unum Reveals Two Patient Deaths
Two Boston-area biotech startups are shrugging off the recent stock market volatility as they press forward with plans for initial public stock offerings. Genetic therapies company Homology Medicines and cell therapy developer Unum Therapeutics each filed IPO paperwork with regulators late Friday. Unum’s filing revealed that two patients died in a Phase 1 trial late … Continue reading “Unum, Homology Plan IPOs, as Unum Reveals Two Patient Deaths”
2018 NEVY Awards
The NEVYs are Boston’s premier celebration of the venture ecosystem, and the only one truly uniting the Tech and Life Science communities. An “anti-awards show,” they spurn white tablecloths and boring speeches, instead embracing the vibe of Boston’s innovation economy: fast-paced, eccentric, colorful, and unapologetic. Attended by over 1000 of the region’s top innovators, investors, … Continue reading “2018 NEVY Awards”
MIT Sloan Healthcare and BioInnovations Conference
The 16th annual MIT Sloan Healthcare and BioInnovations Conference (SHBC) on “Pathways to Innovation in Healthcare” brings together industry, academic, investment, and policy leaders from around the healthcare industry to discuss the most pressing issues and exciting innovations in the sector. Attendees will enjoy hearing from 30+ speakers, panelists, and keynotes from industry luminaries such … Continue reading “MIT Sloan Healthcare and BioInnovations Conference”
Duke and Enzyvant Take Rare Immune Disease to School with New Therapy
A healthy baby enters the world with the cells it needs to build immunity. But in some cases, the cell levels are dangerously low. Rarer still are those born without the organ needed to properly develop these immune cells. For babies who have this condition, called complete DiGeorge anomaly, even the common cold can become … Continue reading “Duke and Enzyvant Take Rare Immune Disease to School with New Therapy”
Paying for Gene Therapy, CRISPR in People, RNAi at “What’s Hot” on May 16
A new age of medicine is underway, and we’re only just beginning to grapple with the implications. The first U.S. gene therapy, for a rare form of vision loss, is now on the market. In 2017, the FDA also approved the first two CAR-T cell therapies for cancer, the first cancer drug based on a … Continue reading “Paying for Gene Therapy, CRISPR in People, RNAi at “What’s Hot” on May 16”
Fasten Ends Ride-Hailing Service in Boston & Austin After Sale
[Corrected 3/3/18, 10:41 am. See below.] Fasten said its U.S. ride-hailing service will shut down Monday after the startup agreed to be acquired by Russia-based transportation network operator Vezet Group. The purchase price wasn’t disclosed. Boston-based Fasten had raised nearly $20 million in equity, debt financing, and other securities, according to SEC filings. Its investors … Continue reading “Fasten Ends Ride-Hailing Service in Boston & Austin After Sale”
Boston Tech Watch: Amazon, Akamai, Asics, Avid, Baroo, ShoeBuy & More
This week in Boston tech, we’re tracking a powerful cyber attack that Akamai Technologies reportedly helped to get under control, more Amazon expansion news, OpenView’s efforts to boost women investors and entrepreneurs, shoe companies’ local expansion, and more. Read on for details. —Software from Akamai (NASDAQ: [[ticker:AKAM]]) helped GitHub, the popular software development platform, fend … Continue reading “Boston Tech Watch: Amazon, Akamai, Asics, Avid, Baroo, ShoeBuy & More”
Walmart Unveils “Intelligent Food” System to Keep Produce Fresh
Food spoilage can cost big retailers like Walmart billions in losses. Now, the Arkansas-based giant says it has filed two patents on technology that can digitize the current inspection process for perishable goods. Called Eden, the initiative is in its early stages, but the idea is to use artificial intelligence and cameras to create a … Continue reading “Walmart Unveils “Intelligent Food” System to Keep Produce Fresh”
Akamai, Grousbeck’s Fund, Feature Labs & More Boston Deal News
It’s time to catch up on some of the latest venture funding and acquisition news from the Boston-area tech sector: —In a regulatory filing, Akamai Technologies (NASDAQ: [[ticker:AKAM]]) revealed the purchase prices for two acquisitions it made last year: $199.3 million in cash for Soasta and $180.3 million in cash for Nominum. Read more about … Continue reading “Akamai, Grousbeck’s Fund, Feature Labs & More Boston Deal News”
Mirror, Mirror On the Wall: How Does This Dress Look in Green?
These days, it’s not just Snow White’s stepmother who has a mirror that talks back. Thanks to augmented reality, Internet of Things, and data analytics technologies, more of us might be confronted with so-called “smart mirrors” the next time we try on clothes or accessories in a store. While mirrors are typically static pieces of … Continue reading “Mirror, Mirror On the Wall: How Does This Dress Look in Green?”
Bio Roundup: Funding Frenzy, Opioid Summit, Celgene Woes & More
Biotech startups rolled in cash this week. By our count, investors put more than $800 million into life-sciences startups in four days. The money came from a wide range of backers, not just traditional biotech venture firms. It’s early yet in 2018, but the current count could put life-sciences companies on pace to bust past … Continue reading “Bio Roundup: Funding Frenzy, Opioid Summit, Celgene Woes & More”
In 5D Deal, “Microlocation” Startup Humatics Eyes Smart Cities, Cars
As robots become more intelligent, mobile, and prevalent in everyday life, humans will have to figure out how to coexist with these more advanced machines. That prospect raises plenty of deep questions, but a simpler, more immediate concern is making sure mobile machines can navigate their surroundings without injuring humans or causing other kinds of … Continue reading “In 5D Deal, “Microlocation” Startup Humatics Eyes Smart Cities, Cars”
Sēqster Exits Stealth with Web-Based Tech for Managing Health Data
Sēqster, founded in 2016 to develop technology that enables individuals to aggregate and manage all of their own personal health information, emerged from stealth mode Wednesday. Comparing itself to the personal finance platform Mint.com, the San Diego startup says its platform integrates personal health information from a variety of sources, including electronic medical records (EMR), … Continue reading “Sēqster Exits Stealth with Web-Based Tech for Managing Health Data”
Xconomy Awards—2018 Nominations Are Open
[Correction 3/1/18, 11:07am ET, see below] The Xconomy Awards are back for the second year! Today, we are opening up nominations for the 2018 Awards, which celebrate the best people, companies, and organizations in the Boston/New England life sciences community. The 2017 inaugural awards were a huge success, with an impressive crop of nominations, a … Continue reading “Xconomy Awards—2018 Nominations Are Open”
Helix Raises $200M to Build Its DNA “App Store” Beyond the Family Tree
Thanks to advertising blitzes from companies like Ancestry.com and 23andMe, Joe and Jane Consumer might know that their genetic blueprint and $100 or so can dig up insights about their genealogy. San Carlos, CA-based startup Helix is banking on that budding curiosity to provide a market for all kinds of consumer apps fueled by a … Continue reading “Helix Raises $200M to Build Its DNA “App Store” Beyond the Family Tree”
Rubius Rolls Up Another $100M As Bio Funding Frenzy Continues
Like water spewing from a firehose, venture dollars are dousing life-science startups this week. The latest biotech on the receiving end is Rubius Therapeutics, a cell therapy developer that announced a $100 million round this morning. With the new cash, a “crossover” round including investors that back both private and publicly traded companies, Rubius has … Continue reading “Rubius Rolls Up Another $100M As Bio Funding Frenzy Continues”
Aurora, Led by Google and Tesla Driverless Car Vets, Lands $90M
Aurora Innovation, a self-driving car startup whose founders have ties to Google, Tesla, and Uber, has raised $90 million in Series A funding co-led by Greylock Partners and Index Ventures. Along with the money, Greylock and Index are adding a member each to Aurora’s board of directors: Reid Hoffman, the co-founder of LinkedIn and partner … Continue reading “Aurora, Led by Google and Tesla Driverless Car Vets, Lands $90M”
Securing the Door: Amazon Buys Connected Doorbell Maker Ring
Amazon (NASDAQ: [[ticker:AMZN]]) has acquired smart-doorbell security system maker Ring as the company seeks to expand its home-security business. The purchase was first reported by Geekwire, which cited a separate report from Reuters that the deal is valued at about $1 billion. That would make Amazon’s purchase of Ring the third largest in the Seattle e-commerce … Continue reading “Securing the Door: Amazon Buys Connected Doorbell Maker Ring”
Credtech Report Card: HackerRank, CodeFights, Credly, ACT, More
Educational technology companies are augmenting the traditional educational system with their online coursework offerings, but they’re also creating a competing universe where students can find alternate learning experiences that may qualify them for a job, even if they don’t have an academic degree. A core element in this universe is the invention of new kinds … Continue reading “Credtech Report Card: HackerRank, CodeFights, Credly, ACT, More”
Xconomy Awards 2018
The Xconomy Awards are back! The second Annual Awards will celebrate the people, companies, and organizations that make the Boston life sciences ecosystem one of the most vibrant and innovative in the world. An esteemed panel of judges will help us pick the winners.
After Triton Attack, CyberX Nabs $18M to Defend Industrial Networks
Cyber threats to industrial connected devices and critical infrastructure are growing, and more money is flowing into companies trying to thwart those attacks. The latest deal is an $18 million investment in CyberX, a Boston-area startup whose software helps secure Internet-connected devices and networks in factories, oil rigs, electrical grids, pharmaceutical labs, and other industrial … Continue reading “After Triton Attack, CyberX Nabs $18M to Defend Industrial Networks”
Xconomy’s EXOME Presents: What’s Hot in Boston Biotech 2018
In many ways, 2017 marked a turning point for biomedical innovation. The FDA approved the first U.S. gene therapy, the first CAR-T cellular immunotherapy, the first cancer drug based on a genetic signature, and the first smartphone app to treat substance abuse. Add to that the first successful Phase 3 trial for an RNA interference … Continue reading “Xconomy’s EXOME Presents: What’s Hot in Boston Biotech 2018”
Quentis Nets $48M For Cancer Drugs, Building Buzz For NY Bio Startups
After a string of announcements a few years back, there’s been few new, high-profile biotech startups taking shape in New York. But that quiet period might be coming to an end this morning with the arrival of Quentis Therapeutics, a cancer immunotherapy startup born from the lab of former Weill Cornell Medicine dean and immunologist … Continue reading “Quentis Nets $48M For Cancer Drugs, Building Buzz For NY Bio Startups”
Moltin Gets $8M Round Led By Underscore, Names Ex-Demandware Exec CEO
As shopping experiences continue to take new forms—think social media, smart televisions, virtual assistants, and video games—the complexity of building and managing multi-faceted e-commerce systems is growing. That creates opportunities for companies like Moltin, a startup that develops cloud-based software tools that power the back-end infrastructure of e-commerce applications. Its application programming interfaces (APIs) and … Continue reading “Moltin Gets $8M Round Led By Underscore, Names Ex-Demandware Exec CEO”
Fresh Off $25M Raise, Generation Adds $100M For Next-Gen Gene Therapy
Today marks another noteworthy moment in the continued advancement of gene therapy, which now has multiple products on the market after decades of research. Generation Bio, one of the startups trying to leapfrog existing versions of the technology, has now raised $125 million in two separate rounds in less than two months. Cambridge, MA-based Generation … Continue reading “Fresh Off $25M Raise, Generation Adds $100M For Next-Gen Gene Therapy”