Whether it’s drug companies trying to harness machine learning or doctors using software to make diagnoses, artificial intelligence is moving into healthcare—and moving fast. On November 2, Xconomy is gathering an elite group of technology and medical leaders to map out the future of healthcare and A.I.—for patients and doctors, startups and big organizations, and … Continue reading “Healthcare + A.I. at Pfizer on Nov. 2: Here’s the Agenda”
Category: Boston
MIT Inclusive Innovation Awards Stress Optimism as Tech Reshapes Work
Digital technologies have helped create immense wealth and societal progress, but not everyone has shared in that prosperity. The MIT Initiative on the Digital Economy created the MIT Inclusive Innovation Challenge to highlight and support businesses and nonprofits that use technology to improve economic opportunities for people with low- and mid-level incomes. The winners of … Continue reading “MIT Inclusive Innovation Awards Stress Optimism as Tech Reshapes Work”
Bio Roundup: Light For Spark, California Drug Law, IPO Queue & More
In a year of tragedies across the U.S., natural or otherwise, it seemed this week was California’s turn. Fueled by high winds, low humidity, and ample dry vegetation, fires swept through several towns across the state and, as of this writing, have barely been contained. With our minds on friends and loved ones affected by … Continue reading “Bio Roundup: Light For Spark, California Drug Law, IPO Queue & More”
Ikea Backs XL Hybrids in $22M Round as Commercial Fleets Electrify
[Updated 10/12/17, 4:53 pm, with CEO comments.] XL Hybrids, a maker of hybrid electric powertrains for commercial and municipal vehicles, is stepping on the gas pedal after pulling in $22 million in fresh venture capital. Furniture retailer Ikea Group and Constellation Technology Ventures—the venture capital arm of energy company Exelon—were among the investors in XL’s … Continue reading “Ikea Backs XL Hybrids in $22M Round as Commercial Fleets Electrify”
CarGurus Drives Off With $150M in Boston’s First Tech IPO of 2017
[Updated 10/12/17, 4:58 pm. See below.] Amid another sluggish year for tech IPOs, advocates of Boston’s tech scene can breathe a sigh of relief—the area won’t be shut out this year. CarGurus and its stockholders raised about $150.4 million in the company’s initial public offering, marking the Boston area’s first tech IPO of 2017. The Cambridge, … Continue reading “CarGurus Drives Off With $150M in Boston’s First Tech IPO of 2017”
Zafgen Names Hatfield CEO, Former Chief Exec Hughes Shifts to CSO
Zafgen (NASDAQ: [[ticker:ZFGN]]) has named Jeffrey Hatfield CEO of the Boston-based drug developer. Thomas Hughes, who has been Zafgen’s CEO since 2008, will continue as president and take on the newly created position of chief scientific officer. Both Hatfield and Hughes will serve on the company’s board of directors. Hatfield was most recently CEO of … Continue reading “Zafgen Names Hatfield CEO, Former Chief Exec Hughes Shifts to CSO”
Android Founder on VR, Voice & the Future of Human-Machine Collaboration
Within 20 years, computer keyboards will be relegated to the technology dustbin, says Android co-founder Rich Miner. Miner helped shape the smartphone era with Android, a mobile operating system startup that Google acquired in 2005. Android software now powers over 2 billion devices. On Tuesday, Miner spoke at a mobile software developer conference in Boston … Continue reading “Android Founder on VR, Voice & the Future of Human-Machine Collaboration”
FDA To Advisors: What If One-Time Gene Therapy Needs Extra Doses?
In the run-up to a key vote on an experimental gene therapy, the FDA raised no major flags about the drug’s track record but said its long-term effect remains an open question. That question should receive a thorough airing Thursday, when a meeting of FDA outside advisors will weigh a recommendation of the one-shot gene … Continue reading “FDA To Advisors: What If One-Time Gene Therapy Needs Extra Doses?”
KalVista, Merck Partnership on Blindness Drug Sends Shares Skyward
KalVista Pharmaceuticals has inked a partnership with pharmaceutical giant Merck for its lead drug, an experimental treatment for a complication of diabetes that can lead to blindness. According to the deal announced Tuesday, Merck (NYSE: [[ticker:MRK]]) will pay Cambridge, MA-based KalVista (NASDAQ: [[ticker:KALV]]) $37 million up front. Merck gains the option to acquire the diabetic … Continue reading “KalVista, Merck Partnership on Blindness Drug Sends Shares Skyward”
Q&A: Xconomy Award Winner Rob Perez On How Boston Biotech Can Get Involved With The Community
In 2015, as Rob Perez (pictured) was leaving Cubist Pharmaceuticals, he knew that he wanted to do more to make a difference in the Boston community. As Cubist’s chief operating officer and president (and CEO, briefly, before Cubist was acquired by Merck), Perez had a lot to do with getting Cubist employees involved outside of … Continue reading “Q&A: Xconomy Award Winner Rob Perez On How Boston Biotech Can Get Involved With The Community”
Black Fellowship Students Headed From HBCUs to VC Boardrooms
In mid-October, eleven college students will be flying to California for an opportunity that would be the envy of any Ivy League MBA candidate—they’ll meet the venture capital firm partners who will personally mentor them throughout the school year. The students—all but one are undergraduates—come from campuses in Prairie View, Texas; Tallahassee, Florida; and Nashville, … Continue reading “Black Fellowship Students Headed From HBCUs to VC Boardrooms”
VC Funding Surges in Fewer Deals in Third Quarter, and Top 10 Deals
[Updated 10/11/17, 12:25 am. See below.] “More dollars, fewer deals” has been a prevailing trend in venture funding over the past couple of years, and it was evident again in the three months that ended September 30, according to the latest Venture Monitor report. Venture firms invested $21.5 billion in 1,699 startups nationwide during the … Continue reading “VC Funding Surges in Fewer Deals in Third Quarter, and Top 10 Deals”
Blockchain, Banks & the New Web: Q&A With Ethereum Co-founder Lubin
Ethereum co-founder Joe Lubin is calm and soft-spoken when he shares his vision of how blockchain technology and digital currencies could transform the Internet, the global economy, and many aspects of our daily lives. But what he’s talking about could become a raging tempest, and it’s worth paying attention to—especially given the vast sums of … Continue reading “Blockchain, Banks & the New Web: Q&A With Ethereum Co-founder Lubin”
Steve Case’s Rise of the Rest Shines Spotlight on Emerging Tech Hubs
Steve Case, venture capitalist, author, and co-founder of AOL, is preparing to hit the road this week on his sixth Rise of the Rest tour, where he travels to emerging innovation hubs in search of investment-worthy tech startups and to highlight the growth happening outside of places like Silicon Valley and Boston. In the years … Continue reading “Steve Case’s Rise of the Rest Shines Spotlight on Emerging Tech Hubs”
Bio Roundup: Nobel Pursuit, Fundraising Fruit, A Rhythmic IPO & More
The 2017 Nobel Prizes with a biomedical bent were announced this week. Three researchers shared the physiology and medicine prize for their work shining light on the circadian rhythms that govern the wake-and-sleep cycles of all organisms. That basic research is working its way into applications such as drugs that help regulate our body clocks. … Continue reading “Bio Roundup: Nobel Pursuit, Fundraising Fruit, A Rhythmic IPO & More”
Boston Tech Watch: Puerto Rico Aid, Doc Video Games, Applause Sale
[Updated 10/10/17, 12:09 pm. See below.] This week in Boston tech, we’re tracking a bunch of acquisition news, including a hint at Applause’s possible sale price; the arrival of a video game maker for doctors; a local tech company’s efforts to bring Puerto Rico back online after Hurricane Maria; and more. Read on for details. … Continue reading “Boston Tech Watch: Puerto Rico Aid, Doc Video Games, Applause Sale”
Boston’s Life Science Disruptors: The Photos
Xconomy’s annual Boston’s Life Science Disruptors event on September 28th in Kendall Square brought a packed house to Pfizer. Attendees heard candid stories from some of Boston’s most disruuptive biotech company leaders, founders, and VC backers. We presented three stories this year. First up was the Dragonfly Therapeutics story, told by co-founder Tyler Jacks, director … Continue reading “Boston’s Life Science Disruptors: The Photos”
Rhythm Pharma IPO Pops to the Tune of a $120M Upsized Offering
Rhythm Pharmaceuticals is in step with other life science companies going public, raising $120 million in its own upsized IPO. The Boston company priced its stock offering late Wednesday at $17, topping the $14 to $16 per share range it had previously set. Rhythm sold just over 7 million shares, nearly 400,000 more shares that … Continue reading “Rhythm Pharma IPO Pops to the Tune of a $120M Upsized Offering”
Strata Oncology, UCSF Partner to Offer $25M in Free Tumor Sequencing
Ann Arbor, MI-based Strata Oncology this week announced a new partnership with the University of California, San Francisco, to provide $25 million in free tumor sequencing nationwide for men with metastatic prostate cancer. Called StratifyProstate, the initiative aims to dramatically increase enrollment in relevant precision medicine trials, says Strata CEO Dan Rhodes. Despite the significant promise … Continue reading “Strata Oncology, UCSF Partner to Offer $25M in Free Tumor Sequencing”
Ramp Founder Wilde Takes Over Indico as Reality Sets In for A.I.
[Updated 10/5/17, 6:21 pm. See below.] Technology companies like IBM have arguably overhyped the capabilities of their artificial intelligence technologies over the past few years. But some executives believe the field is turning a corner, and businesses are starting to deliver practical applications of A.I. “There’s some reality setting in,” says Boston software executive Tom … Continue reading “Ramp Founder Wilde Takes Over Indico as Reality Sets In for A.I.”
Xconomy Award Winner Lita Nelsen Reflects on a Career in Tech Transfer: Q&A
When Lita Nelsen first started working at MIT’s Technology Licensing Office (TLO) over 30 years ago, Kendall Square was home to only a few biotech companies, and spinning out new startups from MIT was more of an incidental thing (as she told Xconomy last year). But that changed drastically during Nelsen’s time there (including more … Continue reading “Xconomy Award Winner Lita Nelsen Reflects on a Career in Tech Transfer: Q&A”
What’s Hot in Cybersecurity on Dec. 5: Threat Stack, Cybereason & More
[Updated 10/5/17, 8:08am, with new speakers.] Advances in cybersecurity continue to be top of mind for everyone from business and tech leaders to consumers. You don’t have to look further than Equifax or Yahoo to get the feeling that no data or network is safe from hackers. Companies and organizations of all sizes are adjusting … Continue reading “What’s Hot in Cybersecurity on Dec. 5: Threat Stack, Cybereason & More”
Paul English’s Lola Unveils Revamped App for Business “Road Warriors”
Some observers of mobile technologies wonder if they’re killing people’s “do-it-yourself” mentality, as a multitude of apps enable users to hire others to tackle tasks for them on demand, from grocery shopping and delivery to assembling their furniture. One area where smartphone owners apparently don’t want to completely hand off a task to someone else? … Continue reading “Paul English’s Lola Unveils Revamped App for Business “Road Warriors””
Palleon Lands $48M to Develop New Type of Checkpoint Cancer Drug
[Corrected 10/4/17, 9:11 a.m. See below.] A Waltham, MA biotech aiming to activate more parts of the immune system in the fight against tumors announced a $47.6 million Series A round of funding from a syndicate of corporate investors. Palleon Pharmaceuticals is developing three antibodies that aim to reactivate immune system activity after having been … Continue reading “Palleon Lands $48M to Develop New Type of Checkpoint Cancer Drug”
AltspaceVR Finds New Home in Microsoft’s Mixed Reality Ecosystem
AltspaceVR, one of the forerunners of shared social experiences in virtual reality spaces, has been saved from extinction by Microsoft, which announced Tuesday that it is acquiring the four-year-old company. The Redwood City, CA-based startup had sounded its own death knell on July 28, announcing that it planned to shut down Aug. 3 due to the … Continue reading “AltspaceVR Finds New Home in Microsoft’s Mixed Reality Ecosystem”
After Buyout, Grommet CEO Pieri Says: “Ace Wants Us to Be Ourselves”
For Jules Pieri, the purchase of a majority stake in her company, The Grommet, by Ace Hardware was perhaps preordained. “How fitting is it that our company is named after a humble piece of hardware?” she asks. “There is some destiny at work here.” Also at work was a year-long partnership with the national cooperative … Continue reading “After Buyout, Grommet CEO Pieri Says: “Ace Wants Us to Be Ourselves””
Ultragenyx Sweetens Offer, Dimension Tx Agrees to $151M Acquisition
Two weeks after making a surprise bid for Dimension Therapeutics, Ultragenyx Pharmaceutical is now set to acquire the gene therapy company in a deal valued at $151 million. Ultragenyx (NASDAQ: [[ticker:RARE]]) announced Tuesday that it has reached an agreement to acquire Cambridge, MA-based Dimension (NASDAQ: [[ticker:DMTX]]) for $6 per share. The Novato, CA-based rare disease … Continue reading “Ultragenyx Sweetens Offer, Dimension Tx Agrees to $151M Acquisition”
Celebrating Boston Life Sciences: Xconomy Awards Gala Slideshow
We at Xconomy were thrilled to see such a great turnout at our first-ever Awards Gala—350 people from the Boston life sciences community filled a Hynes Convention Center ballroom. As Bob Buderi, our founder and editor-in-chief, said in his opening remarks on September 26 before a sold-out crowd: We clearly struck a chord. Top scientists, … Continue reading “Celebrating Boston Life Sciences: Xconomy Awards Gala Slideshow”
Infinidat, Now Profitable, Nabs $95M Investment at $1.6B Valuation
Infinidat, the six-year-old data-storage firm led by EMC co-founder Moshe Yanai, announced today it has bagged $95 million from investors. The Series C funding round was led by Goldman Sachs Private Capital Investing, and earlier backer TPG Growth contributed. The company’s private investors now value Infinidat at $1.6 billion, according to a press release. Its … Continue reading “Infinidat, Now Profitable, Nabs $95M Investment at $1.6B Valuation”
Cullinan Oncology Emerges with $150M to Build Cancer Drug Portfolio
It’s no secret that discovering and developing cancer drugs is an expensive and risky endeavor. But Cullinan Oncology is betting that a financial approach, rather than a purely scientific one, can improve the odds, and it has raised $150 million to test its approach. The Series A investment for Cambridge, MA-based Cullinan was co-led by … Continue reading “Cullinan Oncology Emerges with $150M to Build Cancer Drug Portfolio”
CRISPR Therapeutics Switches CEOs As It Approaches First Clinical Study
With its first clinical trial possibly just months away, one of the leading biotech firms using CRISPR-Cas9 gene editing technology to make drugs is turning to a new CEO. CRISPR Therapeutics (NASDAQ: [[ticker:CRSP]]), a company split between Cambridge, MA, and Switzerland, said this morning that founding CEO Rodger Novak will hand the reins to the … Continue reading “CRISPR Therapeutics Switches CEOs As It Approaches First Clinical Study”
CarGurus, a Profitable Tech Company, Aims to Raise $162M in IPO
CarGurus is moving closer to becoming the Boston area’s first tech IPO of 2017. The Cambridge, MA-based firm aims to raise as much as $162.15 million in its initial public offering, according to a document filed with the SEC late last week. That would value CarGurus—which operates an online marketplace for buying and selling new … Continue reading “CarGurus, a Profitable Tech Company, Aims to Raise $162M in IPO”
KSQ Bets on CRISPR-Juiced Drug Discovery With $76M & Ex-Genzyme CEO
CRISPR-Cas9 makes headlines as a gene editing tool for potential therapies, but pharma and biotech are also using it to as a tool to discover new drugs. A high-powered startup, KSQ Therapeutics, is the latest firm to join their ranks. Flagship Pioneering and Polaris Partners have been incubating the Cambridge, MA, company since 2015. KSQ … Continue reading “KSQ Bets on CRISPR-Juiced Drug Discovery With $76M & Ex-Genzyme CEO”
Twitter Joins Facebook in Political Hot Seat Over Election Hacking
Ordinarily, Twitter’s announcement that some of its users can now send tweets twice as long as its signature 140-character limit, and that this freedom could be broadened to others, would have been the company’s top news of the week. But instead, Twitter, like Facebook before it, is under the national microscope as government investigations of … Continue reading “Twitter Joins Facebook in Political Hot Seat Over Election Hacking”
Boston Tech Watch: Leerink, E14 Fund, Jobcase, Freight Farms & More
This week in Boston tech, we’re tracking a new $313 million growth equity fund for digital health companies, more money for an MIT Media Lab fund, layoffs at Freight Farms, and the arrival of another autonomous vehicle software startup, among other news. Read on for details. —Leerink Transformation Partners announced it raised $313 million for … Continue reading “Boston Tech Watch: Leerink, E14 Fund, Jobcase, Freight Farms & More”
Bio Roundup: Graham-Cassidy, Axovant Fail, SpringWorks Launches & More
After drug pricing, count drug shortages among the hot button issues sparking patient ire. Last year, the FDA says, 23 drug shortages were reported, down from 26 the previous year (and 251 in 2011). But Hurricane Maria’s direct strike on Puerto Rico might put the progress made on reducing shortages to the test. The Pharmaceutical … Continue reading “Bio Roundup: Graham-Cassidy, Axovant Fail, SpringWorks Launches & More”
Deciphera IPO Drums Up $128M for Cancer Drug Studies
Three life sciences companies went public late Wednesday and raised more than $300 million combined. They were headlined by Deciphera Pharmaceuticals, which pulled in $127.5 million in an upsized IPO. The Waltham, MA-based cancer drug developer priced its shares at $17 apiece, which was on the high end of the $15 to $17 range it … Continue reading “Deciphera IPO Drums Up $128M for Cancer Drug Studies”
Dassault to Pay $400M for Exa in Engineering Software Consolidation
Dassault Systèmes has agreed to acquire Exa Corporation, a seller of product simulation software, in a deal valued at about $400 million. Dassault said it will pay $24.25 per share for Burlington, MA-based Exa (NASDAQ: [[ticker:EXA]]), a 43 percent premium to Exa’s closing stock price on Wednesday, the day before the deal was announced. Exa’s … Continue reading “Dassault to Pay $400M for Exa in Engineering Software Consolidation”
In TaskRabbit’s Sale to Ikea, Lessons for Retail Tech’s Future
“Gig economy” startup TaskRabbit has sold to Ikea, the furniture maker whose customers often turned to TaskRabbit’s online marketplace for help. It will be important to watch how other traditional retailers like Walmart and online sellers like Wayfair respond in the broader competition for tech talent and platforms. This is now a world where retail … Continue reading “In TaskRabbit’s Sale to Ikea, Lessons for Retail Tech’s Future”
GSK’s Chris Carpenter Joins Rubius as Chief Medical Officer
Chris Carpenter has been appointed chief medical officer of Cambridge, MA-based Rubius Therapeutics. Carpenter was most recently senior vice president and head of the cancer epigenetics department at GlaxoSmithKline (NYSE: [[ticker:GSK]]). His experience also includes posts at Merck (NYSE: [[ticker:MRK]]) and Harvard Medical School. Earlier this year, Rubius raised $125 million to bring its engineered … Continue reading “GSK’s Chris Carpenter Joins Rubius as Chief Medical Officer”
FDA Panel Pans PTC’s Audacious Plan to Force Vote on Duchenne Drug
A panel of experts has voted against a Duchenne muscular dystrophy drug from PTC Therapeutics (NASDAQ: [[ticker:PTCT]]). The vote is a critical blow to the company’s unusual attempt to force the review of a drug the FDA has rejected twice already. The 11 member committee, one of many that help the FDA evaluate drugs for … Continue reading “FDA Panel Pans PTC’s Audacious Plan to Force Vote on Duchenne Drug”
Ori’s Robotic Furniture Hints at Future of Smart Homes, Urban Design
The “smart” device movement has brought us gadgets like Internet-connected thermostats, light bulbs, and speakers. Now, a startup out of MIT called Ori wants to add furniture and walls to the so-called Internet of Things. “When we think of the home of the future or office of the future, the IoT has been limited to … Continue reading “Ori’s Robotic Furniture Hints at Future of Smart Homes, Urban Design”
Nielsen to Buy Visual IQ as Adtech Acquisition Spree Continues
Nielsen has agreed to purchase Visual IQ in a move aimed at enhancing the research firm’s set of marketing tools and data-crunching capabilities. Terms of the deal, announced Wednesday, weren’t disclosed. The acquisition is expected to close in October. Needham, MA-based Visual IQ previously raised at least $15 million from investors, including Volition Capital and … Continue reading “Nielsen to Buy Visual IQ as Adtech Acquisition Spree Continues”
Xconomy Presents: What’s Hot in Cybersecurity
Cybersecurity continues to be top of mind for business leaders, technologists, and consumers. From the latest catastrophic data breach to crippling Internet attacks and cyber warfare, no data or network seems safe. Now, Boston-area cybersecurity companies are working to advance the state of the art in security automation, behavioral analytics, anti-phishing systems, and other arenas. … Continue reading “Xconomy Presents: What’s Hot in Cybersecurity”
Google, Apple Offer Salvation from the Horrors of Autoplay
Tech giants are under a lot of pressure these days to make the world a better place—to ferret out Russian hackers trying to fix elections; to combat gender bias in hiring; to stamp out sexual harassment; and to lend their voices to the protests over President Trump’s immigration policies. Despite efforts they’ve made on these … Continue reading “Google, Apple Offer Salvation from the Horrors of Autoplay”
The Winners of the 2017 Xconomy Awards Are…
We are excited to announce the recipients of the first-ever Xconomy Awards. Big Idea Bridge Project The Bridge Project was hatched by MIT’s Koch Institute for Integrative Cancer Research in Cambridge and the Dana-Farber/Harvard Cancer Center in Boston to fund collaborative research between cancer researchers from MIT and Harvard-affiliated hospitals and schools. Its aim is … Continue reading “The Winners of the 2017 Xconomy Awards Are…”
Chatbot Builder Drift Gets $32M from GC, Sequoia, HubSpot, CRV
Investors continue to feed the chatbots. Drift, a Boston-based startup that helps businesses boost sales and marketing efforts with virtual assistants and other software tools, said today it has raised $32 million in fresh venture capital. The Series B round of funding was led by General Catalyst, with contributions from CRV, HubSpot, and Sequoia Capital. … Continue reading “Chatbot Builder Drift Gets $32M from GC, Sequoia, HubSpot, CRV”
Indigo Harvests $156M to Boost Agtech R&D, Harness Crop Microbes
In the past year, Indigo Ag has brought to the market five microbial seed treatments that help plants hold up to crop stresses, such as drought. The company now has its sights set on developing more products for more applications, and it has raised $156 million to support that work. New investors Baillie Gifford and … Continue reading “Indigo Harvests $156M to Boost Agtech R&D, Harness Crop Microbes”
No Effect: Axovant Drug Is Latest Casualty in Alzheimer’s Battle
Another high-profile attempt to produce an Alzheimer’s treatment has failed. An unusual biotech company called Axovant Sciences (NASDAQ: [[ticker:AXON]]) reported today that its drug intepirdine did not show a meaningful difference between the patients taking a combination of intepirdine and donepezil (Aricept) and the patients taking only donepezil, which is one of just a handful … Continue reading “No Effect: Axovant Drug Is Latest Casualty in Alzheimer’s Battle”
Air Force Scouts Autonomous Tech in New Boston Techstars Program
From GPS to the Internet, some of the most impactful technologies of the last century were driven by U.S. military investments. Department of Defense leaders want to continue that tradition, but fear that the military could be missing out on the latest innovations inside of high-tech startups because it doesn’t work with them as closely … Continue reading “Air Force Scouts Autonomous Tech in New Boston Techstars Program”