Scott Kelley has been appointed chief medical officer of Flexion Therapeutics (NASDAQ: [[ticker:FLXN]]). Kelley was previously vice president of medical affairs for the Burlington, MA, drug developer. He succeeds Yamo Deniz, who has left the company. Before joining Flexion in 2016, Kelley was vice president of global medical affairs at Sanofi (NYSE: [[ticker:SNY]]). Flexion develops … Continue reading “Flexion Therapeutics Promotes Scott Kelley to Chief Medical Officer”
Category: Boston
Maker of Blink Internet-Enabled Security Cameras Sold to Amazon
Immedia Semiconductor, a Boston area company that makes the Blink line of Internet-connected home security cameras, has been acquired by Amazon (NASDAQ: [[ticker:AMZN]]), according to a post on the Blink website and a report in the Boston Globe. In its post, Blink told its customers “if you own one of our systems, nothing changes for now.” … Continue reading “Maker of Blink Internet-Enabled Security Cameras Sold to Amazon”
Roche Bets $1.7B More on Precision Oncology With Ignyta Deal
In a buyout that marks the latest endorsement for targeted cancer drugs—and, potentially, the increasing utility of broad cancer DNA tests—Roche this morning agreed to acquire San Diego biotech Ignyta in an all-cash deal valued at $1.7 billion. Roche will pay $27 per share for Ignyta (NASDAQ: [[ticker:RXDX]]), a whopping 74 percent premium to the … Continue reading “Roche Bets $1.7B More on Precision Oncology With Ignyta Deal”
Bio Roundup: Tax Cuts, Drug Approval Record, New Flagship Cash & More
[Updated 12/22/17, 2:37 p.m. See below.] This year is wrapping up as one of the strongest on record for FDA drug approvals. As of this morning, the regulator has approved 46 novel drugs in 2017—a total that beats the mark set two years ago. With one week left in the year, the FDA could add … Continue reading “Bio Roundup: Tax Cuts, Drug Approval Record, New Flagship Cash & More”
Boston Tech Watch: iRobot, Jibo, Ogin, WiTricity, Spyce, Cayan
With the holidays upon us, it’s time to take a quick look at some of the year’s final headlines from the Boston-area tech scene: —Cayan, a Boston-based payments technology company, agreed to be acquired by Columbus, GA-based TSYS (NYSE: [[ticker:TSS]]) in a $1.05 billion all-cash deal. Cayan is currently owned by Parthenon Capital Partners. —Jibo, … Continue reading “Boston Tech Watch: iRobot, Jibo, Ogin, WiTricity, Spyce, Cayan”
Biogen, Eisai Alzheimer’s Drug Fails First Test But Study Continues
The lead drug in a wide-ranging Alzheimer’s disease collaboration between Biogen and Eisai has flunked its first test, falling short of its main goal in a mid-stage clinical trial. Biogen (NASDAQ: [[ticker:BIIB]]) and Eisai said Thursday an independent interim analysis at 12 months found that the drug BAN2401 failed to show enough of a change … Continue reading “Biogen, Eisai Alzheimer’s Drug Fails First Test But Study Continues”
Xconomy Award Winner Vicki Sato on How to Build Biotech in New York
Vicki Sato has had a long career helping to lead major biotech businesses in Boston and then teaching Harvard Business School students how to create and grow high-tech companies. So it’s no surprise that when New York City Mayor Bill de Blasio wanted to figure out how replicate Boston’s success in biotech in his city, … Continue reading “Xconomy Award Winner Vicki Sato on How to Build Biotech in New York”
Making the Middle Matter
Call it the problem of the middle—the middle states and the middle class—two groups that have struggled with problems that, while they are inexorably linked, are different all the same. Historically, most of the venture capital in America has been active on the coasts, leaving a vast portion of the country without seed money for … Continue reading “Making the Middle Matter”
Fintech in 2018: Blockchain Apps, A.I. Interfaces, Crypto Rules
For the financial technology sector, the year’s headlines were dominated by breathless blockchain hype, cryptocurrency bubble talk, and a never-ending barrage of initial coin offerings. To help put things in perspective—and get a read on what might come next in fintech—Xconomy caught up with David Jegen (pictured), a Boston-based partner with F-Prime Capital, who invests … Continue reading “Fintech in 2018: Blockchain Apps, A.I. Interfaces, Crypto Rules”
CRISPR Could Soon Charge into Hearing Loss Drug Race, New Study Suggests
Nearly 40 million Americans say they have trouble hearing for one reason or another. There are no drug treatments, just hearing aids and cochlear implants, but biotech companies such as Frequency Therapeutics and Decibel Therapeutics believe they now have the means to make noise in this largely untapped market. The race to drug the ears, … Continue reading “CRISPR Could Soon Charge into Hearing Loss Drug Race, New Study Suggests”
Stop Being an “Initiative”: Highlights From NY Biotech—The Future Is Now
Vicki Sato, a longtime Boston biotech entrepreneur, laid out a challenge for New York life sciences in 2018. “Stop being an initiative,” she said. “Start being a player.” Sato, addressing the throng of attendees at Xconomy’s “New York Biotech: The Future Is Now” conference last week, has skin in the game. She’s now co-chairing an … Continue reading “Stop Being an “Initiative”: Highlights From NY Biotech—The Future Is Now”
Flagship Bags $618M, Its Largest Raise Ever, For a New Startup Crop
More money continues to flow into the creation of new biotechs. Flagship Pioneering, one of the life science industry’s major early stage venture investors, announced today that it has raised $618 million, the largest influx of money to the coffers of the Cambridge, MA-based firm since its founding in 2000. It says it now has … Continue reading “Flagship Bags $618M, Its Largest Raise Ever, For a New Startup Crop”
GV Tops Off $74.5M Haul for Paper Digitization Startup Ripcord
The co-founders of Hayward, CA-based startup Ripcord got together in 2015 to solve a mundane problem that plagues every office: big piles of paper records. To do that, they had to make use of the complete array of high-end tools in the advanced technology arsenal, from robotics and AI to computer vision and language processing. … Continue reading “GV Tops Off $74.5M Haul for Paper Digitization Startup Ripcord”
Social Media Cyber Threats: 3 Predictions for 2018
1. Ransomware: Social media will be the number one vehicle for ransomware distribution in 2018. Currently, there are nearly 1 million social media accounts compromised every day, and that number will continue to rise, thanks to the plethora of easily identifiable targets. And with new channels comes new costs: the average cost of a ransomware ticket will go up … Continue reading “Social Media Cyber Threats: 3 Predictions for 2018”
Net Neutrality Repeal Means The Battle Is Just Beginning
From businesses and consumers to politicians and tech industry leaders, the furor over last week’s Federal Communications Commission (FCC) decision to repeal net neutrality can be felt across America. People everywhere are stepping up to show their support for a free and open Internet. In my view, the battle to preserve net neutrality is still … Continue reading “Net Neutrality Repeal Means The Battle Is Just Beginning”
Retailers’ Holiday Wishlist? More Sales Powered By New Technologies
From products designed by artificial intelligence to virtual reality systems that help shoppers picture merchandise in their homes, retailers are deploying technology like never before this holiday season, betting that they can win business back from the default of online shopping. These innovations run the gamut, including sensors and cameras that can monitor in-store movements, … Continue reading “Retailers’ Holiday Wishlist? More Sales Powered By New Technologies”
Andreessen Horowitz Backs Asimov’s Synthetic Biology CAD Software
Synthetic biology continues to capture the attention of technology investors. Last week, it was Boston-based Ginkgo Bioworks announcing a $275 million Series D funding round backed by the likes of Y Combinator and Bill Gates’s private investment vehicle, Cascade Investment. This week, it’s Asimov, another Boston-area synthetic bio startup, raising money. The amount—$4.7 million in … Continue reading “Andreessen Horowitz Backs Asimov’s Synthetic Biology CAD Software”
Intellia Switches CEOs as EVP Leonard Steps in for Bermingham
Intellia Therapeutics (NASDAQ: [[ticker:NTLA]]) said that John Leonard, currently the company’s executive vice president of research and development, will become its president and CEO, effective Jan. 1. Leonard will step in for founding CEO Nessan Bermingham, who is returning to the venture capital industry, according to a prepared statement. Prior to running Intellia, Bermingham had … Continue reading “Intellia Switches CEOs as EVP Leonard Steps in for Bermingham”
Startup Lessons: Lexumo CEO on Why the Cybersecurity Firm Shut Down
Building a successful startup is hard. Pulling the plug when you think the company won’t make it can be hard, too. Xconomy recently reported that Lexumo, a Boston-area cybersecurity startup that spun out of Draper Laboratory, called it quits in September. The two-year-old company had raised at least $4.9 million in venture funding from Accomplice, … Continue reading “Startup Lessons: Lexumo CEO on Why the Cybersecurity Firm Shut Down”
Aura Biosciences Taps Cadmus Rich for Chief Medical Officer Post
Cadmus Rich has joined Aura Biosciences to become the Cambridge, MA, company’s chief medical officer. Rich most recently worked at Inotek Pharmaceuticals (NASDAQ: [[ticker:ITEK]]) in Lexington, MA, where he was vice president, medical affairs and clinical development. Aura’s lead drug, AU-11, is in early-stage clinical testing for ocular melanoma, a rare eye cancer.
AstraZeneca’s Anthony Johnson Named CEO of Goldfinch Bio
Goldfinch Bio has appointed Anthony Johnson president and CEO. Johnson joins Cambridge, MA-based Goldfinch from AstraZeneca (NYSE: [[ticker:AZN]]), where he was head of early clinical development for the company’s Innovative Medicine and Early Development Biotech Unit. Last year, Goldfinch raised $55 million in a Series A round of financing to develop new kidney disease treatments … Continue reading “AstraZeneca’s Anthony Johnson Named CEO of Goldfinch Bio”
3 A.I. Predictions for 2018: Emotion, Data, Ethics
1. Emotion A.I. will increase our humanity and empathy for each other. In recent years, the smartphones, bots, and devices we spend so much of our time with could be accused of contributing to the desensitization of our society. When a fight breaks out, some teens’ first reaction is to pull out their phones and take … Continue reading “3 A.I. Predictions for 2018: Emotion, Data, Ethics”
Casa Systems Raises $78M in Boston Area’s Second Tech IPO of 2017
The Boston area’s second tech IPO of 2017 is in the books. Casa Systems raised $78 million in its initial public offering by selling 6 million shares of common stock for $13 per share. The Andover, MA-based network infrastructure company has granted its IPO underwriters a 30-day option to buy up to 900,000 additional shares … Continue reading “Casa Systems Raises $78M in Boston Area’s Second Tech IPO of 2017”
Jnana Therapeutics Emerges with $50M to Find Cellular Protein Drugs
Drug discovery startup Jnana Therapeutics has come out of stealth mode with $50 million in funding that it plans to use to search for new drugs that target proteins that move substances across cellular membranes. The Boston company says drugs that focus on this family of proteins, called solute carrier (SLC) transporters, could address a … Continue reading “Jnana Therapeutics Emerges with $50M to Find Cellular Protein Drugs”
In Week of Hemophilia News, Alnylam Drug Cleared to Move Forward
The FDA has cleared Alnylam Pharmaceuticals to resume testing of an experimental hemophilia drug after instituting a variety of measures meant to manage the possible risks of taking the therapy, known as fitusiran. Cambridge, MA-based Alnylam (NASDAQ: [[ticker:ALNY]]) can restart the Phase 3 study and Phase 2 open-label extension trials of fitusiran, a drug being … Continue reading “In Week of Hemophilia News, Alnylam Drug Cleared to Move Forward”
Bio Roundup: Tax Cuts, a Funding Rush, Hemophilia Questions & More
In the penultimate week before the end-of-year recess, Congress raced to provide the drug industry—and the rest of corporate America—a massive tax cut, with breaks for investors, too. Racing to finish their own end-of-year budgets, perhaps, investors poured hundreds of millions into private biotechs, too. If that doesn’t get your blood racing, then how about … Continue reading “Bio Roundup: Tax Cuts, a Funding Rush, Hemophilia Questions & More”
Boston Tech Watch: Iron Mountain, Hitachi, Circle, Locus & More
Here are some of the latest headlines from the Boston-area tech scene: —Locus Robotics, which announced a $25 million Series B funding round in November, appears to have raised an additional $9.2 million, according to an SEC filing. The Wilmington, MA-based startup makes robots and software for order fulfillment warehouses. —SolidEnergy Systems, a Woburn, MA-based … Continue reading “Boston Tech Watch: Iron Mountain, Hitachi, Circle, Locus & More”
Chasing Amazon: Target Buys Shipt, Techstars Teams Up With Rakuten
Corporate America’s acquisition game in online retail and e-commerce is continuing, this time with Target buying Birmingham, AL-based startup Shipt for $550 million. The deal may not make the same sweeping waves as Amazon’s $13.7 billion acquisition of Austin, TX-based Whole Foods, but Shipt appears to have been waiting for a suitor since Seattle-based Amazon … Continue reading “Chasing Amazon: Target Buys Shipt, Techstars Teams Up With Rakuten”
Ginkgo Bioworks Pulls In $275M as Synthetic Biology Funding Soars
Companies sometimes raise big venture capital rounds to invest in equipment, people, and other tools for growth. Other times they do it to provide the business a cash cushion. And sometimes it’s about giving potential customers and partners more confidence in the fledgling company. For Ginkgo Bioworks, its latest venture funding round is about all … Continue reading “Ginkgo Bioworks Pulls In $275M as Synthetic Biology Funding Soars”
Relay Tx Raises $63M to Advance Protein Motion Drugs Into the Clinic
Proteins play important roles in cells, folding and changing their shape to perform various biological functions. While many of these shapes are important to healthy cell function, some shapes are linked to disease, says Sanjiv Patel, CEO of Relay Therapeutics. Relay has developed a way to see this protein motion, and use that moving image … Continue reading “Relay Tx Raises $63M to Advance Protein Motion Drugs Into the Clinic”
Kyn Nabs $49M to Target Metabolism and Beat Other Cancer Drug Combos
[Updated 12/14/2017, 9:23 am, see below.] Cancer immunotherapy drugs called checkpoint inhibitors, which unleash immune cells on tumors, have taken the oncology world by storm over the past few years. But they work for only a fraction of patients, and one possible reason is that tumors have many ways to hide from the attack. Kyn … Continue reading “Kyn Nabs $49M to Target Metabolism and Beat Other Cancer Drug Combos”
Robots in the Real World: News on Savioke, Marble, Knightscope, Fetch
Silicon Valley robotics companies have been moving their inventions into real-world use, and it seemed like a good time to check in with a sampling of them to see how things are going. The take-away: Shifting from the technology development phase into managing the human-robot interface in the real world can bring some interesting results—both … Continue reading “Robots in the Real World: News on Savioke, Marble, Knightscope, Fetch”
Gene Therapy Advances, But Hemophilia Is No Easy Target
Mark Skinner, the former longtime president of the World Federation of Hemophilia, has had the blood disease on his mind his entire life. He doesn’t have a choice. Skinner, 57, was born with a severe form of hemophilia A, meaning he has a tiny fraction of the necessary cellular machinery to clot blood. His disease … Continue reading “Gene Therapy Advances, But Hemophilia Is No Easy Target”
As Cryptocurrencies Grow, Mutual Coin Hedge Fund Guides Investors
Way back in 2012, we published a story about Usman Majeed, a young entrepreneur running an electronics reseller business called Tech Twurl out of his Michigan State University dorm room. He graduated with a computer science degree in 2015 and shut down Tech Twurl soon after, but the desire to run his own company remained. … Continue reading “As Cryptocurrencies Grow, Mutual Coin Hedge Fund Guides Investors”
3 Lessons From NuTonomy & Lyft’s Self-Driving Car Rides in Boston
One of the biggest potential pitfalls for developers of autonomous vehicles is psychological: Will most people trust the cars enough to ride in them? It might not be easy to win people over, but it’s possible—if a Boston startup’s recent tests are any indication. On Tuesday, NuTonomy co-founder and president Karl Iagnemma shared early reactions … Continue reading “3 Lessons From NuTonomy & Lyft’s Self-Driving Car Rides in Boston”
Aptiv Plans Driverless Car Tech Hub in Boston After Buying NuTonomy
[Updated 12/12/17, 5:51 pm. See below.] Global automotive technology supplier Aptiv is planting a bigger flag in Boston. On Tuesday, the England-based company announced plans to open a new technology office in Boston’s Seaport neighborhood. The space will also be the new headquarters of NuTonomy, the Boston-based autonomous vehicle software startup that Aptiv acquired this … Continue reading “Aptiv Plans Driverless Car Tech Hub in Boston After Buying NuTonomy”
ASH 2017 Highlights: CAR-T Competition, Myeloma, Hemophilia & More
[Updated, 12/13/17, 1:50 p.m. ET. See below.] The annual American Society of Hematology meeting is nearly over. For now, we’ve chosen updates from three disease areas to highlight, plus the more notable market movements. No surprise, there’s a lot about the genetically engineered cell therapy known as CAR-T. Gene therapy and more standard forms of … Continue reading “ASH 2017 Highlights: CAR-T Competition, Myeloma, Hemophilia & More”
Apple Confirms Acquisition of Early Music-Tech Startup Shazam
As a tech startup that uses an algorithm to help people find out what song is playing on the radio, Shazam is a business its co-founders say was ahead of its time in 2000—so much so that they developed the technology after they already started raising money and finding office space. It was even ahead … Continue reading “Apple Confirms Acquisition of Early Music-Tech Startup Shazam”
What’s Hot in Cybersecurity, 2017: Photos and Takeaways
Our annual cybersecurity conference at WGBH in Boston was a big hit last week. In times like these, security is on everyone’s mind—and it has become a critical issue in business and society. A few takeaways from the event (but you really had to be there): 1. Expect a lot more phishing-type attacks after the Equifax … Continue reading “What’s Hot in Cybersecurity, 2017: Photos and Takeaways”
What Are the Nation’s Top Cities and Regions for Driverless Tech?
Whether you think self-driving cars are the stuff of science fiction or a potentially paradigm-shifting new form of transportation, autonomous vehicles are coming—and the companies developing them are spending big money to make it happen. A few years ago, industry analysts seemed to think Silicon Valley would win the race to get self-driving cars on … Continue reading “What Are the Nation’s Top Cities and Regions for Driverless Tech?”
In Biggest Biotech IPO of 2017, Denali Raises $248M for Neuro Drugs
Denali Therapeutics has raised more than $248 million in its stock market debut, marking the largest biotech IPO of the year. The company will use the cash to support work on its experimental drugs for Parkinson’s disease and other neurodegenerative disorders. South San Francisco, CA-based Denali priced its offering of 13.8 million shares at $18 … Continue reading “In Biggest Biotech IPO of 2017, Denali Raises $248M for Neuro Drugs”
OrbiMed Founder Isaly Steps Down After Sexual Harassment Report
Sam Isaly, managing partner of OrbiMed Advisors, is stepping down from the company. OrbiMed, a leading healthcare investment firm founded by Isaly, made the announcement Thursday, two days after Stat published a report of sexual harassment allegations from former OrbiMed employees against Isaly. According to OrbiMed’s statement, Isaly will be replaced by a committee of … Continue reading “OrbiMed Founder Isaly Steps Down After Sexual Harassment Report”
Bio Roundup: Trials to Watch, Mega Deals, Video Game Therapy & More
With 2018 around the corner, this was a week to look ahead. At Xconomy, we zeroed in on several clinical trials that could become major stories in the life sciences. Other healthcare milestones are on the way, too. The FDA will consider for the first time whether a video game should be approved as medicine. … Continue reading “Bio Roundup: Trials to Watch, Mega Deals, Video Game Therapy & More”
Clora Reaps $3.3M to Speed Consultant Hunts by Life Sciences Companies
Rahul Chaturvedi worked for 16 years as a life sciences company executive, but he was also an avid consumer tech fan who chafed at the clunky enterprise apps used in his industry. Spoiled by speedy, user-friendly consumer apps, he also wondered why finding a biotech consultant to hire was so much harder than, say, lining … Continue reading “Clora Reaps $3.3M to Speed Consultant Hunts by Life Sciences Companies”
Sage Shares Soar Again As Depression Drug Hits Mark in Phase 2 Test
Sage Therapeutics disclosed another clinical trial victory this morning, sending shares of the Cambridge, MA, company to new highs. An experimental Sage drug for major depressive disorder (MDD), a psychiatric disease that affects millions of Americans, has succeeded in a Phase 2 study and will now head into late-stage testing. Sage (NASDAQ: [[ticker:SAGE]]) said that … Continue reading “Sage Shares Soar Again As Depression Drug Hits Mark in Phase 2 Test”
Last Chance to Have Your Voice Heard on NY Biotech’s Course in 2018
Want to take part in an interactive, constructive talk about what can be done, right now, to alter the course of the life sciences scene in New York? You’ve still got a shot. Next Monday evening, Dec. 11, at the Alexandria Center for Life Science, Xconomy is gathering a small group of New York biotech … Continue reading “Last Chance to Have Your Voice Heard on NY Biotech’s Course in 2018”
The ‘Amazon Effect’ and the Gender Wage Gap
The battle to land Amazon’s second home is shaping up to be one of the fiercest competitions to lure a corporate headquarters in modern history. From serious incentives like massive tax breaks to headline grabbing stunts like offers of bear wrestling and giant cacti, it’s safe to say cities are pulling out every stop imaginable … Continue reading “The ‘Amazon Effect’ and the Gender Wage Gap”
Boston Tech Watch: Apple, Lyft, BU, Astral Capital, Cengage & More
It’s time to catch up on the latest Boston-area tech headlines: —People can now ride around Boston’s Seaport neighborhood in a self-driving vehicle, thanks to a pilot program launched this week by ride-hailing company Lyft and NuTonomy, the autonomous vehicle software startup now owned by Aptiv. (Aptiv is the name of the autonomous vehicle business … Continue reading “Boston Tech Watch: Apple, Lyft, BU, Astral Capital, Cengage & More”
Report: Sexual Harassment Claims Hit OrbiMed Founder Sam Isaly
Healthcare investment giant OrbiMed Advisors has been described as a workplace enveloped in a toxic culture of sexual harassment, according to an investigation by Stat released late Tuesday. OrbiMed managing partner and co-founder Samuel Isaly is the main perpetrator of frequent and targeted harassment, according to allegations leveled in Stat’s interviews with five former employees, … Continue reading “Report: Sexual Harassment Claims Hit OrbiMed Founder Sam Isaly”
Lexumo, an Internet of Things Security Startup, Calls It Quits
[Updated 12/8/17, 4:27 pm. See below.] Boston-area cybersecurity startup Lexumo has shut down, a source close to the company confirmed to Xconomy. After publication, CEO Dan McCall confirmed the news in an e-mail to Xconomy that said Lexumo ceased operations in September. [This paragraph added.—Eds.] Lexumo spun out of Draper Laboratory—the not-for-profit R&D center next … Continue reading “Lexumo, an Internet of Things Security Startup, Calls It Quits”