[Updated, 1/26/18, see below] Solid Biosciences was expected to ride gene therapy’s wave of recent momentum to an IPO this week. But new revelations have clouded the offering, as the company revealed just before going public that its most advanced drug candidate has been under FDA scrutiny since mid-November. The gene therapy, SGT-001, is being … Continue reading “Solid Discloses Duchenne Problems in IPO & Raises Rival’s Hackles”
Category: Boston
Novartis Pays Spark $105M Up Front for Gene Therapy Rights Outside U.S.
Spark Therapeutics is licensing to Novartis the rights to its gene therapy outside of the U.S., a deal that puts the treatment for a rare, inherited form of blindness in the hands of a large pharmaceutical company with the resources to commercialize the drug globally. Novartis (NYSE: [[ticker:NVS]]) is paying Spark (NASDAQ: [[ticker:ONCE]]) $105 million … Continue reading “Novartis Pays Spark $105M Up Front for Gene Therapy Rights Outside U.S.”
Security Is Dead, Long Live Security
Roughly every three years, someone steps up and boldly claims the security software industry is going away, and they are probably right—much like there is a strong chance of the cold energy death of the universe. However, neither is likely tomorrow. With all due respect, such claims usually suffer from the recency bias or, put … Continue reading “Security Is Dead, Long Live Security”
Columbia Spinout Allure Security Bags $5.3M to Guard Business Data
Allure Security Technology, a Boston-area cybersecurity startup with roots at Columbia University, announced Thursday it has raised $5.3 million in seed funding to grow its staff and enhance its software that is aimed at helping businesses protect against data loss. The investment was led by Boston-based Glasswing Ventures, an early-stage venture firm that backs companies … Continue reading “Columbia Spinout Allure Security Bags $5.3M to Guard Business Data”
Botkeeper Tallies $4.5M Investment to Automate Accounting Tasks
Bookkeeping is time-consuming, repetitive, and boring—unless you’re into that kind of thing. Sounds like a job for a machine. Software isn’t sophisticated enough to handle all of the work involved in recording transactions and managing businesses’ finances, but money is being poured into artificial intelligence technologies aimed at shifting more of the workload from humans … Continue reading “Botkeeper Tallies $4.5M Investment to Automate Accounting Tasks”
With Medical Records Tools, Apple Wades Deeper Into Digital Health
[Updated 1/24/18 4:09 p.m. See below.] Apple said Wednesday it plans to introduce new features that will allow iPhone users to access parts of their medical records through the company’s Health app. The move could impact the interoperability of health records software and spark more competition in the health IT industry. Cupertino, CA-based Apple (NASDAQ: … Continue reading “With Medical Records Tools, Apple Wades Deeper Into Digital Health”
Boston Scientific Pumps $90M Into Heart Device Startup Millipede
Boston Scientific is infusing medical device company Millipede with $90 million, an equity investment that comes with the option to acquire the startup outright. According to the agreement, Marlborough, MA-based Boston Scientific (NYSE: [[ticker:BSX]]) must exercise its option to acquire Millipede before the startup completes its ongoing clinical trial for its heart valve repair device—as … Continue reading “Boston Scientific Pumps $90M Into Heart Device Startup Millipede”
SoftBank Continues Funding Spree, Leads $865M Round for Katerra
Katerra, a building construction startup inspired by the efficient practices of electronics manufacturing, announced today it has raised $865 million in a Series D fundraising round led by the SoftBank Vision Fund. The company was co-founded in 2015 by Michael Marks, the former CEO of contract electronics manufacturer Flextronics. Katerra has large-scale ambitions that match the … Continue reading “SoftBank Continues Funding Spree, Leads $865M Round for Katerra”
Have $100M, Looking For Ideas: NYCEDC Begins Search For a NY Bio Campus
If you had $100 million to create an epicenter for New York biotech, what would you do with it? The New York City Economic Development Corp., a quasi-governmental agency supporting job growth in New York, has put that question to the private sector. The NYCEDC has called for proposals asking a “mission-driven organization or joint … Continue reading “Have $100M, Looking For Ideas: NYCEDC Begins Search For a NY Bio Campus”
Facebook, Amazon Snap Up Boston Cybersecurity Startups Confirm, Sqrrl
Facebook and Amazon are turning to Boston tech companies to beef up their cybersecurity capabilities. Facebook (NASDAQ: [[ticker:FB]]) has acquired Confirm.io, while Amazon (NASDAQ: [[ticker:AMZN]]) has purchased Sqrrl, according to posts on the two Boston-area security startups’ respective websites. Terms weren’t disclosed for either deal. An unspecified number of Confirm employees are joining Facebook’s local … Continue reading “Facebook, Amazon Snap Up Boston Cybersecurity Startups Confirm, Sqrrl”
Should Startups Extend the Window to Exercise Options?
Pinterest did it. Square did it. And Coinbase did it, too. These unicorns have all given departing employees more than the standard 90 days to exercise their stock options. They’ve extended the window to exercise options for employees who have at least a minimum period of service. The tech recruiting site Triplebyte urged an even … Continue reading “Should Startups Extend the Window to Exercise Options?”
Facebook Touts Countermeasures to Election Hacking: Are They Enough?
Facebook expanded its mea culpa on Monday for failing to prevent “bad actors” such as Russian entities from using the social media platform to distort democratic processes—notably the U.S. presidential election in 2016. The company unveiled another series of measures it’s taking to prevent malefactors, who hide behind false names, from spreading fake and incendiary … Continue reading “Facebook Touts Countermeasures to Election Hacking: Are They Enough?”
Announcing “Robo Madness 2018: Homecoming” at iRobot on April 12
Robo Madness is back. Xconomy’s fourth annual robotics and artificial intelligence conference in the Boston area will be held April 12 at iRobot’s headquarters in Bedford, MA. The theme this year is “Homecoming,” as robotics and A.I. have seeped into the fabric of everyday life and are hitting home. Join us during National Robotics Week … Continue reading “Announcing “Robo Madness 2018: Homecoming” at iRobot on April 12″
Disney, Family Offices Back Second Bio Startup from Tech Entrepreneur Haney
To launch his first biotech startup, Dragonfly Therapeutics, Bill Haney went to private family offices, including one linked to the Disney family, rather than venture firms. Now the tech investor, entrepreneur and filmmaker is at it again, leaning on some of the same investors to fund Skyhawk Therapeutics, a new company joining an emerging race … Continue reading “Disney, Family Offices Back Second Bio Startup from Tech Entrepreneur Haney”
Hey Alexa, What’s in a Name? Actually, Let’s Call You Amazon
With “Hey Google” and “Alexa” echoing from the expo halls of Las Vegas to millions of homes, the hype around voice-controlled computing is reaching a new peak in early 2018. Voice-controlled devices are permeating our world, and this new user interface is the future of computing—or so we are told by the companies purveying it. … Continue reading “Hey Alexa, What’s in a Name? Actually, Let’s Call You Amazon”
Cargo Zooms Ahead with New Cash, Plans to Expand to 10 Cities
Score one for mobile convenience stores. Cargo, a New York City-based graduate of the Techstars Mobility accelerator, announced Monday it has raised more money from investors, reached its one millionth passenger, and will soon expand from test markets in New York, Chicago, and Boston to new cities . We caught up with Cargo founder and … Continue reading “Cargo Zooms Ahead with New Cash, Plans to Expand to 10 Cities”
Xconomy Presents: Robo Madness 2018—Homecoming
After years of hype, robotics and artificial intelligence have seeped into the fabric of everyday life and are hitting home. Cars, trucks, and even lawn mowers are gaining self-driving capabilities. Retail and logistics are becoming more automated. Virtual and robotic assistants can answer questions, make decisions, and recognize human emotions in some cases. Our homes … Continue reading “Xconomy Presents: Robo Madness 2018—Homecoming”
Paytronix Rings Up $65M to Boost Customer Loyalty Software Business
Paytronix Systems, a seventeen-year-old software company that manages customer rewards programs and other sales initiatives for restaurants and convenience store chains, said Monday it pulled in $65 million in funding from Great Hill Partners, a Boston-based private equity firm. Newton, MA-based Paytronix previously raised a little over $2 million from investors, according to SEC filings. … Continue reading “Paytronix Rings Up $65M to Boost Customer Loyalty Software Business”
With $20B to Spend, Sanofi, Celgene Bet Big on Hemophilia, CAR-T
Two top drugmakers, Sanofi and Celgene, agreed on Monday morning to shell out more than $20 billion combined, cinching deals for hemophilia drug maker Bioverativ and cell therapy developer Juno Therapeutics. Each agreement represents an expensive, risky bet on a crowded, rapidly changing field. In one acquisition, Sanofi is buying Waltham, MA-based Bioverativ (NASDAQ: [[ticker:BIVV]]), … Continue reading “With $20B to Spend, Sanofi, Celgene Bet Big on Hemophilia, CAR-T”
Why Spark and Watchdog ICER Don’t See Eye-to-Eye on $850K Gene Therapy
The first gene therapy approved in the U.S. costs $850,000. Announcing the price on Jan. 3, its owner Spark Therapeutics held out the possibility of some relief, such as installment payments, or slim rebates if the drug, a one-time shot into each eye to reduce or reverse inherited vision loss, doesn’t work or wears off. … Continue reading “Why Spark and Watchdog ICER Don’t See Eye-to-Eye on $850K Gene Therapy”
Democratization of Automation: The Next Generation of Industrial Robotics
In the coming years, artificial intelligence will have many transformative impacts, but the one perhaps most resembling science fiction will be the rise of autonomous physical systems: real-world systems that can make decisions for themselves. Of these autonomous systems, self-driving cars have captured the most attention. But the field of manufacturing, which represents one-sixth of … Continue reading “Democratization of Automation: The Next Generation of Industrial Robotics”
Trieza Therapeutics Appoints Jeno Gyuris Chief Scientific Officer
Trieza Therapeutics has named Jeno Gyuris its chief scientific officer. Cambridge, MA-based Trieza is developing cancer immunotherapies that use viruses to prompt an anti-tumor response. Gyuris’ experience includes senior scientific posts at two other Boston-area biotechs, Aveo Pharmaceuticals (NASDAQ: [[ticker:AVEO]]) and Quiet Therapeutics.
After Whirlwind 2017, May Mobility Plans to Expand Driverless Fleet
May Mobility, the autonomous vehicle startup based in Ann Arbor, MI, had an action-packed 2017. The company launched in January, completed a stint in the Y Combinator accelerator over the summer, put driverless shuttles on downtown Detroit streets through a small pilot program in October, and raised more than $11 million over the course of … Continue reading “After Whirlwind 2017, May Mobility Plans to Expand Driverless Fleet”
Q&A: Dell Med’s DeSalvo Talks Social Health Startups, Data Ownership
Karen DeSalvo has experience working in the public sector, but she’s hardly what you’d call a government bureaucrat. DeSalvo, who is trained as a physician, served as the National Coordinator for Health Information Technology from 2014 to 2016 under President Barack Obama. During some of the time she headed the ONC, as the office is … Continue reading “Q&A: Dell Med’s DeSalvo Talks Social Health Startups, Data Ownership”
Boston Tech Watch: ICO Crackdown, “Shark Tank” Startups & More
[Updated 1/19/18, 2:47 pm. See below.] This week in Boston tech, we’re tracking legal action against a so-called “initial coin offering,” hiring sprees, a pair of acquisitions, several venture funding rounds, and more. Read on for details. —Massachusetts securities regulators are wading into the murky waters of cryptocurrencies and “initial coin offerings.” The office of … Continue reading “Boston Tech Watch: ICO Crackdown, “Shark Tank” Startups & More”
UTA Using Robots, Shakespeare to Study Ways to Address Loneliness
Dallas—In healthcare, robots are being created to help with tasks like disinfecting hospital rooms or alerting patients when it’s time to take medications. A study at the Emotional Robotics Living Lab at the University of Texas at Arlington is even exploring how human-robot connection can help fight depression. “We are looking at robots that would be … Continue reading “UTA Using Robots, Shakespeare to Study Ways to Address Loneliness”
Bio Roundup: Spark’s Road Ahead, Juno Rumors, Merck’s Big Day & More
The most overblown health story of the week was President Trump’s health exam. America learned Trump is in perfect health and has “great genes.” He takes Propecia. He doesn’t have heart problems, had a perfect cognitive test score, and is one pound shy of obese. This scintillating information led to a new social media phenomenon, the … Continue reading “Bio Roundup: Spark’s Road Ahead, Juno Rumors, Merck’s Big Day & More”
Tougher “Immigration” Policies On Foreign Tech Crossing U.S. Border
It’s not only people from other countries that are struggling harder to get into the United States these days, it seems. Technology from foreign nations may also be subject to stricter “immigration” rules. The national origins of tech devices and services wasn’t a front-burner question—at least for the general public—until the issue came up at … Continue reading “Tougher “Immigration” Policies On Foreign Tech Crossing U.S. Border”
Absences, Surprises in Amazon’s Final List of 20 Cities for HQ2
And then there were 20. Amazon has winnowed down the field of 238 submissions from communities around North America vying to host a second headquarters (HQ2) of the Seattle-based tech giant. Most large cities with existing or emerging tech hubs appear on the list, from Austin, TX, and Boston, MA, to Washington, DC, and Toronto, … Continue reading “Absences, Surprises in Amazon’s Final List of 20 Cities for HQ2”
Accomplice Reloads With $205M Fund After Makeover
Accomplice, one of the Boston area’s prominent early-stage venture firms, has restocked its dry powder to invest in tech startups. Accomplice raised $205 million for its second fund, according to a spokesperson. The firm announced the new fund in a blog post Thursday. Partner Jeff Fagnan (pictured) declined to comment further. The fund marks a … Continue reading “Accomplice Reloads With $205M Fund After Makeover”
Pandion Raises $58M to Bring Cancer-Fighting Tactics to Immune Disorders
Many drugs for inflammatory and autoimmune disorders work by suppressing the immune system, an approach that puts patients at risk of infection among other side effects. Pandion Therapeutics is developing antibody drugs that it says could instead work with the immune system, potentially offering a safer, more targeted treatment. The Cambridge, MA, biotech has now … Continue reading “Pandion Raises $58M to Bring Cancer-Fighting Tactics to Immune Disorders”
Advancing A.I. for Business: Google Unveils Tools, Indico Nabs $4M
Tech companies continue to develop software tools and services aimed at unlocking the potential benefits of artificial intelligence for all businesses, regardless of whether or not they have skilled data scientists on staff. Two of the latest examples come from a startup, Boston-based Indico, and a tech giant, Google. Today, Indico announced it pulled in … Continue reading “Advancing A.I. for Business: Google Unveils Tools, Indico Nabs $4M”
In “Age of Amazon,” All Retailers Are Tech Companies, Even Walmart
Technology took center stage this week as the nation’s retailers made their annual pilgrimage to New York. At the National Retail Federation’s three-day conference, which ended Tuesday, the discussion centered on both the disruptive effects and potential promise of e-commerce technologies. Kate Ancketill, the CEO of GDR Creative Intelligence, a retail trends consultancy, said retailers … Continue reading “In “Age of Amazon,” All Retailers Are Tech Companies, Even Walmart”
CircleCI Nabs $31M to Enhance DevOps Platform With Automation Tools
CircleCI, which offers tools for companies seeking to speed up the process of developing their own software, announced today that it has raised $31 million in a Series C fundraising round. The San Francisco-based company, founded in 2011, offers one of the software development platforms that provide frequent, automated tests of the interim versions of … Continue reading “CircleCI Nabs $31M to Enhance DevOps Platform With Automation Tools”
From DARPA to Vecna: New CEO on How Automation Can “Elevate” Humans
[Updated 1/18/18, 9:33 am. See below.] Dan Patt spent the past six years surveying the robotics field, holding a couple of positions with the U.S. Defense Advanced Research Projects Agency (DARPA) that enabled him to work on self-driving cars, drones, and other automation technologies. Now, he’s jumping into the private sector and going all in … Continue reading “From DARPA to Vecna: New CEO on How Automation Can “Elevate” Humans”
Three Takes on How Tech Can Rebuild Trust in 2018
Rounding out our series of perspectives and prognostications for the new year, we asked people in Xconomy’s network about trust in the tech industry. Specifically, if you think public perception about the tech industry took a turn for the worse in 2017, what should the industry do to rebuild trust in 2018? Here are responses … Continue reading “Three Takes on How Tech Can Rebuild Trust in 2018”
Google Launches a MOOC to Train Entry-Level IT Support Staffers
Big tech companies like Google are facing heat for developing disruptive technologies that can make traditional jobs obsolete. But at the same time, the tech industry is growing fast, and is eager to recruit workers outside the sector to fill entry-level jobs that often go begging, a Google executive says. Google is betting on online … Continue reading “Google Launches a MOOC to Train Entry-Level IT Support Staffers”
Merck Is Latest to Tout Success as Lung Cancer Drug Combos Plow Forward
This morning has brought another positive development in the rapidly changing treatment landscape for lung cancer. Merck reported that a combination regimen utilizing its immunotherapy drug, pembrolizumab (Keytruda), has succeeded in a confirmational Phase 3 study. Merck (NYSE: [[ticker:MRK]]) said that a trial in which 614 patients just diagnosed with non-small cell lung cancer got … Continue reading “Merck Is Latest to Tout Success as Lung Cancer Drug Combos Plow Forward”
A.I. Could Be Double-Edged Sword for Cybersecurity Industry in 2018
It’s no secret that artificial intelligence is becoming increasingly influential in cybersecurity—on both sides of the battlefield. And while it’s no secret, it should also be no surprise. Although, in many ways, A.I. is still in its infancy, with nearly every industry investing in the space and many companies already benefiting from automation and business … Continue reading “A.I. Could Be Double-Edged Sword for Cybersecurity Industry in 2018”
Boston E-Commerce Data Firm True Fit Snags $55M in New Funds
True Fit, a Boston-area startup that is creating “a genome for apparel and footwear,” announced this morning a Series C investment of $55 million. Georgian Partners led the funding round with participation from existing investors Jump Capital, Signal Peak Ventures, and Intel Capital, along with new investor Cross Creek Capital. “We’ve built a preference map … Continue reading “Boston E-Commerce Data Firm True Fit Snags $55M in New Funds”
Why Human Extinction Needs a Marketing Department
Experts at Oxford University and elsewhere have estimated that the risk of a global human extinction event this century—or at least of an event that wipes out 10 percent or more of the world’s population— is around 1 in 10. The most probable culprits sending us the way of the dinosaur are mostly anthropogenic risks, … Continue reading “Why Human Extinction Needs a Marketing Department”
Philips CEO Wants to Be Near “Hotspots of Talent” to Take On GE, IBM
Boston’s healthcare technology cluster is getting more crowded. Dutch healthtech giant Philips intends to plant an even bigger flag here, ramping up its local efforts to develop products like machine-learning software for healthcare, as other big firms like IBM and General Electric do the same. Philips (NYSE: [[ticker:PHG]]) announced Thursday it plans to relocate its … Continue reading “Philips CEO Wants to Be Near “Hotspots of Talent” to Take On GE, IBM”
Spark CEO Marrazzo on Gene Therapy Pricing & Paving the Way for the Field
[Updated, 1/13/17, 11:15 a.m. ET] After decades of research and scientific ups and downs, the first U.S. gene therapy, a single, long-lasting treatment called voretigene neparvovec (Luxturna) for rare, inherited blindness, is now on the market. But the commercial challenge facing its developer, Spark Therapeutics, is daunting. Can Spark lead the way in showing that … Continue reading “Spark CEO Marrazzo on Gene Therapy Pricing & Paving the Way for the Field”
CRISPR Recovery? “Furor” Briefly Snips $500M From Companies’ Values
Is the J.P. Morgan CRISPR rollercoaster ride over? As rain fell heavily in San Francisco Monday, the first day of the massive healthcare conference, biotech stocks did, too. At least three of the companies getting drenched could blame a research paper that came out the previous Friday, January 5, after the markets closed. In fact, … Continue reading “CRISPR Recovery? “Furor” Briefly Snips $500M From Companies’ Values”
Bio Roundup: #JPM18, Axovant’s Fall, CRISPR Caveat, Impact M&A & More
Have you gotten your flu shot yet this year? This winter’s flu season is shaping up to be a particularly nasty one and the Centers for Disease Control and Prevention this week upped its tally of states reporting widespread flu activity to 46. Flu awareness was top of mind at the J.P. Morgan Healthcare Conference … Continue reading “Bio Roundup: #JPM18, Axovant’s Fall, CRISPR Caveat, Impact M&A & More”
Mark Cuban, Jaguar, Zuckerberg Firm & Others Back Boston Startups
[Updated 1/12/18, 10:29 am. See below.] The new year has ushered in a flurry of venture funding deals in the Boston area, including investments from Jaguar Land Rover, Dallas Mavericks owner Mark Cuban, and a company founded by Facebook CEO Mark Zuckerberg and his wife, Priscilla Chan. Read on for details. —Boston-based edtech startup Ellevation, … Continue reading “Mark Cuban, Jaguar, Zuckerberg Firm & Others Back Boston Startups”
Boston Tech Watch: TripAdvisor, DraftKings, Jibo & More
[Updated 1/12/18, 3:26 pm. See below.] It’s the end of the week. Time to catch up on some of the latest happenings in the Boston-area tech sector: —DraftKings plans to hire almost 300 employees over the next year-and-a-half and will move into a new headquarters near downtown Boston that is more than double the size … Continue reading “Boston Tech Watch: TripAdvisor, DraftKings, Jibo & More”
E-Commerce Firm Black Rifle Coffee Has Expansion in Its Sights
There wasn’t a lot that Evan Hafer could control on his half-dozen deployments to Iraq and Afghanistan as a Green Beret and CIA contractor. But the one thing he could do something about was the terrible coffee. “I started roasting my own coffee and taking it with me overseas,” he says. “I set up a … Continue reading “E-Commerce Firm Black Rifle Coffee Has Expansion in Its Sights”
Notes From the JPM ’18 Vortex: Gene Therapy’s Reckoning and Lonely Cabs
The annual J.P. Morgan Healthcare conference in San Francisco winds down today, meaning the remaining stragglers are either presenting to half-empty rooms or headed back to colder climes. Compared to a 2017 full of scientific milestones—FDA approvals of gene and cell therapies, a clinical victory for RNA interference, and more—the meeting itself was rather dull. … Continue reading “Notes From the JPM ’18 Vortex: Gene Therapy’s Reckoning and Lonely Cabs”
Boston’s Tech Agenda for 2018: 3 Questions, 3 Sectors to Watch
[Updated 1/11/18, 9:23 am. See below.] Ready or not, 2018 is upon us. The tech industry grappled with serious and difficult issues last year, from a series of sexual harassment and assault allegations; to fears about the effects of social media and other online platforms on our politics, public discourse, and minds; to more (and … Continue reading “Boston’s Tech Agenda for 2018: 3 Questions, 3 Sectors to Watch”