A new acquisition in the Boston tech scene today: Mustbin, a mobile app for organizing and securing personal data such as photos and documents, is getting bought by LifeSite, a “digital vault” startup based in Mountain View, CA. Terms of the deal aren’t being disclosed. The deal is an “asset-only” acquisition, according to a spokeswoman, … Continue reading “Silicon Valley’s LifeSite Snaps Up Personal-Data App Mustbin”
Category: Boston
Unconventional Partners, Like FDA, Can Drive Adoption of New Tech
We’ve heard it time and again. Drug development is too expensive, takes too long, and many drug candidates that show promise in preclinical trials end up failing because testing methods don’t predict how they will work in humans. Recently, new technologies have emerged that offer disruptive potential for steering the development of drugs in more … Continue reading “Unconventional Partners, Like FDA, Can Drive Adoption of New Tech”
Gottlieb Says FDA’s “Regulatory Tools” Can Help Fight Opioid Abuse
The FDA considers how safe and effective a new drug is before approving it. But for addictive opioid painkillers, which have triggered a massive public health crisis, should the agency also weigh the potential for the medication to be abused? That’s one of the questions that new FDA Commissioner Scott Gottlieb is posing as he … Continue reading “Gottlieb Says FDA’s “Regulatory Tools” Can Help Fight Opioid Abuse”
FDA Landmark Nod: Cancer Drug To Match Tumor Genes, Not Tissue Type
For many years, doctors and researchers have known that cancers in different parts of the body can share genetic abnormalities. For the first time, the FDA has approved a drug based on those abnormalities and not on the organ in which the cancer originated. It’s a moment that a lot of people in the cancer … Continue reading “FDA Landmark Nod: Cancer Drug To Match Tumor Genes, Not Tissue Type”
Interactions Buys Digital Roots to Bolster Social Media Offerings
Interactions, a Franklin, MA-based company using artificial intelligence technologies to power virtual assistants for enterprise customers, today announced it has acquired Digital Roots, a metro Detroit startup focused on AI-based customer engagement on social media. The specific terms of the deal were not disclosed. Digital Roots is headquartered in Northville, MI, in a building that … Continue reading “Interactions Buys Digital Roots to Bolster Social Media Offerings”
Novartis’ Martin Seidel Joins IFM Therapeutics as V.P. of R&D
Martin Seidel is joining IFM Therapeutics to become the Boston biotech’s executive vice president of research and development. Seidel comes to IFM from Novartis (NYSE: [[ticker:NVS]]), where he was most recently global head of strategic alliances for the Novartis Institutes for Biomedical Research (NBIR). Before that, he was head of NBIR’s Genomics Institute of the … Continue reading “Novartis’ Martin Seidel Joins IFM Therapeutics as V.P. of R&D”
American Robotics Scouts Out $1.1M to Bring A.I. to Farm Drones
Drones are opening up the skies to farmers who want better ways to monitor their crops. But even though flying a drone over a field is less labor-intensive than walking through one, Reese Mozer says that current drones still take too much time and effort for farmers to use. Mozer, founder and CEO of American … Continue reading “American Robotics Scouts Out $1.1M to Bring A.I. to Farm Drones”
Not Resting on Hemophilia Biz, Bioverativ Pays $400M For True North
Less than four months into its existence, Biogen spinoff Bioverativ has made its first big splash. The company has acquired True North Therapeutics, a privately held South San Francisco, CA, biotech, as part of a plan to forge an identity around rare blood diseases, not the core hemophilia business it was built on. Waltham, MA-based … Continue reading “Not Resting on Hemophilia Biz, Bioverativ Pays $400M For True North”
Trump’s Cybersecurity Czar Talks WannaCry, Industry Partnerships
The Trump administration’s plan for strengthening the nation’s cyber defenses is starting to come into focus. Rob Joyce, a special assistant to the president and the White House’s cybersecurity coordinator, spoke in Boston Monday at an event promoting the launch of CyberMA, a Massachusetts affiliate of the national CyberUSA initiative. CyberMA is a MassTLC-led group … Continue reading “Trump’s Cybersecurity Czar Talks WannaCry, Industry Partnerships”
Celgene’s Data Could Lead To New Option For Multiple Sclerosis Patients
Celgene reported Monday that an experimental pill for the main type of multiple sclerosis met its main goals in a two-year study. By the end of the year, the Summit, NJ, drugmaker will ask the FDA to consider the drug, ozanimod, for approval. The Celgene (NASDAQ: [[ticker:CELG]]) drug is being tested in patients with relapsing … Continue reading “Celgene’s Data Could Lead To New Option For Multiple Sclerosis Patients”
With $29M in New Cash, Echodyne Advances “Radar Vision” for Machines
[Updated, 5/23/17, 5:50am. See below] One of the Northwest’s most intriguing startups has a new wad of cash. Bellevue, WA-based Echodyne said it has raised $29 million in Series B funding led by New Enterprise Associates. The company’s previous investors also participated in the round; they include Bill Gates, Paul Allen’s Vulcan Capital, Madrona Venture … Continue reading “With $29M in New Cash, Echodyne Advances “Radar Vision” for Machines”
Envision the Future: Request Your Invite to Our Napa Summit June 8-9
We are getting down to the wire—just two and a half weeks until Xconomy’s most unique, up close and personal event of the year: our sixth annual Napa Summit: The Xconomy Retreat on Technology, Jobs, and Growth. We have only about 20 spots left open, and a number of those will likely go fast. So … Continue reading “Envision the Future: Request Your Invite to Our Napa Summit June 8-9”
What’s Next for American Workers as Trade, Automation Roil Manufacturing?
When Donald Trump heralded Ford’s announcement earlier this year that it would invest $1.2 billion in its Michigan plants, it was seen by some as the fulfillment of campaign promises to “bring jobs back” and put America first. Last week, the other shoe dropped with reports that Ford will cut 10 percent of its global … Continue reading “What’s Next for American Workers as Trade, Automation Roil Manufacturing?”
Radius Shares Jump as Amgen’s Bone Drug Suffers a Setback in Phase 3
Amgen revealed late Sunday that safety problems have emerged in clinical testing of its closely watched osteoporosis drug, romosozumab (Evenity)—a development that will at minimum delay the drug’s path to approval, if not keep it off the market altogether. The Thousand Oaks, CA, company said while romosozumab met its main goal and some key secondary … Continue reading “Radius Shares Jump as Amgen’s Bone Drug Suffers a Setback in Phase 3”
Bio Roundup: Termeer Tribute, ASCO Peeks, Califf’s New Gigs & More
Exhausted by the nonstop drama in Washington, DC? Immerse yourself instead in this week’s biotech headlines. Let’s start with a tribute to a life sciences icon, then we’ll head around the Xconomy network with early news from the nation’s big yearly cancer meeting. There was also momentum onthe IPO front and new gigs for high-profile … Continue reading “Bio Roundup: Termeer Tribute, ASCO Peeks, Califf’s New Gigs & More”
The Reconfigurable Future of Healthcare
Data plays a more central role in healthcare than ever before. It won’t be long before every person’s genome is sequenced at birth, with follow-up sequencing done at regular intervals throughout life. Each genomic check-up would produce roughly 180 gigabytes of data that will need to be processed, analyzed, and stored. The promise of using … Continue reading “The Reconfigurable Future of Healthcare”
Boston Tech Watch: GE, HubSpot, Fuze, MIT, Vesper, Quickhelp & More
It was a busy week in Boston tech. Here’s a recap of some of the latest headlines: —GE Healthcare and Partners HealthCare announced a 10-year partnership to develop artificial intelligence tools to improve healthcare. The collaboration will initially focus on applying deep learning technology to diagnostic imaging, but could later expand to areas such as … Continue reading “Boston Tech Watch: GE, HubSpot, Fuze, MIT, Vesper, Quickhelp & More”
Aira Raises $12M to Expand Services for Blind and Visually Impaired
After beta testing technology that provides remote assistant services for the blind, San Diego-based Aira has raised $12 million in a Series B round that it says will enable the company to expand its service to thousands of visually impaired users this year. Aira takes advantage of the gig economy by connecting online independent contractors … Continue reading “Aira Raises $12M to Expand Services for Blind and Visually Impaired”
Elliott Buys Into Health IT Firm Athenahealth, Sends Stock Soaring
Finding a healthcare company with the right technological know-how can be an attractive investment opportunity. That’s the thinking behind a move announced this morning by activist investor Elliott Associates, which bought a 9.2 percent stake in Boston-area health IT company Athenahealth (NASDAQ: [[ticker:ATHN]]). The news sent Watertown, MA-based Athenahealth’s stock up more than 22 percent … Continue reading “Elliott Buys Into Health IT Firm Athenahealth, Sends Stock Soaring”
Tackling Opioid Crisis, Biobot Wins Top Prize at MIT DesignX Event
Biobot Labs, a startup that aims to help governments address the opioid crisis by analyzing sewage samples to understand drug consumption trends, won first place Wednesday night at a demo event for the inaugural session of MIT’s DesignX startup accelerator. DesignX was launched last year by MIT’s School of Architecture and Planning to nurture ventures … Continue reading “Tackling Opioid Crisis, Biobot Wins Top Prize at MIT DesignX Event”
Ex-Sarepta CEO Garabedian Returns to Run Bio Accelerator Xontogeny
Chris Garabedian, a veteran biotech executive who helped turn Sarepeta Therapeutics around before his controversial exit in 2015, has returned to the life sciences scene—this time with a new venture to form some biotech startups and help others find their footing. Garabedian is the chairman and CEO of a new Boston-based life sciences accelerator called … Continue reading “Ex-Sarepta CEO Garabedian Returns to Run Bio Accelerator Xontogeny”
After Saving GE Millions, Tamr Gets GE Ventures Investment
General Electric’s venture capital arm has invested an undisclosed amount in Tamr, the “data unification” software firm based in Cambridge, MA. Boston-based GE (NYSE: [[ticker:GE]]) tapped Tamr in 2014 to help it unify and clean up data from more than 270 separate systems across multiple GE businesses, with the goal of creating an accurate, comprehensive … Continue reading “After Saving GE Millions, Tamr Gets GE Ventures Investment”
Boundless Co-Founders Unveil New Startup, Blissfully, in New York
The Boundless boys are at it again. Ariel Diaz and Aaron White, who previously co-founded Boston education startup Boundless, have moved to New York City to pursue a new tech venture. The new company is called Blissfully, and it recently raised a $1.5 million seed funding round led by Eric Paley at Founder Collective. Blissfully … Continue reading “Boundless Co-Founders Unveil New Startup, Blissfully, in New York”
Figuring It Out: Addressing Practices That Impact Women in Technology
The Women’s March, New Tech Northwest’s annual “Women in Tech” event, and International Women’s Day are just a few of the recent events prompting important conversations around inequality in the tech industry. These discussions, while breakthroughs in many regards, are still just the beginning of real change. I’ve gathered a number of ideas for what … Continue reading “Figuring It Out: Addressing Practices That Impact Women in Technology”
Cybersecurity Firm Iboss Expands in Boston, Not Abandoning San Diego
[Updated 5/17/17, 4:53 pm. See below.] Iboss, a San Diego-based cybersecurity firm that opened a small satellite office in Boston last year, has expanded its presence in Massachusetts and decided to designate the local outpost as its corporate headquarters. Iboss held an event Wednesday to announce that it’s moving into a new 20,000-square-foot space in … Continue reading “Cybersecurity Firm Iboss Expands in Boston, Not Abandoning San Diego”
Stifling Immigration Is “Retrograde”: Highlights From “What’s Hot”
Drug pricing. The opioid epidemic. Boardroom diversity. Immigration crackdowns. The state of cancer care now, and in the future. These things aren’t just topics of conversation in Boston biotech circles, but nationwide. Connecting those two with some lively, candid discussions was the idea behind Xconomy’s “What’s Hot in Boston Biotech” event last week. Today we’re … Continue reading “Stifling Immigration Is “Retrograde”: Highlights From “What’s Hot””
Riding Recent Biotech IPO Wave, G1 Snags $105M to Fund Cancer Work
Cancer drugmaker G1 Therapeutics raised $105 million in an IPO last night, the latest development in a recent uptick of biotech offerings. G1, of Research Triangle Park, NC, sold 7 million shares at $15 apiece. G1 had to sell more shares than it had intended (6.25 million) to hit its goal, but still priced within … Continue reading “Riding Recent Biotech IPO Wave, G1 Snags $105M to Fund Cancer Work”
Proofpoint Uncovers Second Cyberattack That Uses Stolen NSA Tools
Cybersecurity company Proofpoint, which helped slow the sweeping global ransomware attack WannaCry after it emerged Friday, has now discovered a much more insidious, profitable, and potentially widespread cyberattack called Adylkuzz. Adylkuzz doesn’t demand, as WannaCry does, that victims pay a ransom to retrieve their data. Adylkuzz makes no announcement when it quietly invades target computers. … Continue reading “Proofpoint Uncovers Second Cyberattack That Uses Stolen NSA Tools”
4 Ways MIT Advanced Campus Entrepreneurship This School Year
[Editor’s note: This is part of a series of stories examining entrepreneurship on MIT’s campus and beyond.] MIT has been a prolific generator of entrepreneurs for decades. But in recent years, the Institute has ramped up campus resources for would-be company builders, thanks in part to a more supportive attitude from administrators. Xconomy chronicled those efforts and … Continue reading “4 Ways MIT Advanced Campus Entrepreneurship This School Year”
LevelUp Bags $50M From JPMorgan Chase & Others For Mobile Payments
LevelUp’s story is one of twists and turns and ups and downs. Right now, it looks like the company is on an upswing. Today the Boston-based mobile payments firm announced a $50 million funding round, which includes $37 million in equity funding and $13 million in debt financing, according to an e-mailed statement attributed to … Continue reading “LevelUp Bags $50M From JPMorgan Chase & Others For Mobile Payments”
Synlogic and Its Modified Bacteria Take Over Dying Company, Go Public
Synlogic, which is developing modified bacteria to use as medicine, has gone public in an unconventional way. Instead of hiring Wall Street bankers to shop its shares to new investors, as most companies do for an initial public offering, Cambridge, MA-based Synlogic has merged with the shell of a former biotech company. The so-called reverse … Continue reading “Synlogic and Its Modified Bacteria Take Over Dying Company, Go Public”
5 Takeaways From the WannaCry Ransomware Attack
This may be the incident that finally pushes ransomware into the mainstream—and also forces both organizations and malicious hackers to adapt their approaches when it comes to this type of attack. The “WannaCry” virus, which first hit companies and healthcare services on Friday, has infected some 300,000 computer systems in 150-odd countries. By exploiting a … Continue reading “5 Takeaways From the WannaCry Ransomware Attack”
With Latest Deal, Biogen Bets $120M on Remedy Pharma Stroke Drug
Biogen has acquired an experimental drug for a type of deadly stroke, adding to the belief that the company, under new CEO Michel Vounatsos, will be more aggressive in pursuing deals to stock its pipeline. Biogen (NASDAQ: [[ticker:BIIB]]) is buying glyburide (CIRARA) from New York-based Remedy Pharmaceuticals for $120 million in cash plus potential future … Continue reading “With Latest Deal, Biogen Bets $120M on Remedy Pharma Stroke Drug”
Ionis Touts Phase 3 Win, But Safety Worries Cloud Nerve Drug Study
Two RNA-based drugs for the same disease, a rare, crippling nerve condition called familial amyloid polyneuropathy (FAP) with no available treatments in the U.S., could soon be under an FDA review at the same time. The first of those treatments, from Carlsbad, CA, Ionis Pharmaceuticals, is on its way there—but are the data are good … Continue reading “Ionis Touts Phase 3 Win, But Safety Worries Cloud Nerve Drug Study”
Bio Leaders Mourn Passing of Genzyme Exec, Orphan Drug Innovator Termeer
Henri Termeer, a biotechnology pioneer and the longtime CEO of Genzyme, has passed away at the age of 71. According to the Boston Globe, Termeer collapsed in his home in Marblehead, MA, on Friday night. Termeer (pictured) was an important figure in the development of biotech not just in the Boston community, but worldwide as … Continue reading “Bio Leaders Mourn Passing of Genzyme Exec, Orphan Drug Innovator Termeer”
Amid Comey Furor, Companies React to Trump’s Cybersecurity Order
On a day dominated by news about President Trump’s firing of FBI director James Comey, and its impact on the ongoing investigation of Russian hacking of the 2016 presidential election, two significant developments for the cybersecurity industry also emerged Thursday. First, President Trump signed an executive order laying out plans to shore up data security … Continue reading “Amid Comey Furor, Companies React to Trump’s Cybersecurity Order”
Bio Roundup: Big Apple Mo’, Checkpoint Yes and No, CAR-T Death & More
“New York, New York, it’s a hell of a town. The Bronx is up, but we’re Brooklyn down.” For all you old-school Brooklyn swingers out there, we’ll take a short break from the madness in the nation’s capital and start our roundup in the greatest city in the world. You might disagree if you’ve got … Continue reading “Bio Roundup: Big Apple Mo’, Checkpoint Yes and No, CAR-T Death & More”
CyberArk Snaps Up Conjur for $42M to Secure Software Development
CyberArk Software said Thursday it has acquired Conjur for $42 million in cash, a tie-up that unites two cybersecurity firms with offices in the Boston area. CyberArk (NASDAQ: [[ticker:CYBR]]), which is based in Israel and has U.S. headquarters in Newton, MA, makes software to help banks and other businesses manage user privileges, sensitive data, and … Continue reading “CyberArk Snaps Up Conjur for $42M to Secure Software Development”
Boston Tech Watch: TripAdvisor, Ogin, Staples, Gillette, Draft & More
Here are some of the latest headlines from the Boston-area tech sector: —Ogin, the Waltham, MA-based renewable energy company formerly known as FloDesign Wind Turbine, recently went into receivership and put its assets up for sale, the Boston Globe reported. Ogin had raised more than $150 million in venture funding. Read more about the company … Continue reading “Boston Tech Watch: TripAdvisor, Ogin, Staples, Gillette, Draft & More”
Stalled or Rising Momentum? New York Wrestles With Its Biotech Future
[Updated, 6:25 a.m. ET, see below] New York City and state governments have finally put big dollars behind local development of the life sciences industry. But lots of cash is no guarantee of success, as panelists kicking off the annual NewYorkBio conference made clear Tuesday. “The question is, where are we as an industry, and … Continue reading “Stalled or Rising Momentum? New York Wrestles With Its Biotech Future”
Harvard Startup Competition Yields Winners in Computing, Fintech, Health
The full range of student entrepreneurship at Harvard University was on display Tuesday. The sixth annual President’s Innovation Challenge awards drew several hundred people to the Harvard Innovation Lab to meet the 15 finalists of the yearlong competition. At stake was $310,000 in prize money. You might think if you’ve seen one student-startup contest, you’ve … Continue reading “Harvard Startup Competition Yields Winners in Computing, Fintech, Health”
Why You’re Wiser with an Adviser
Long before Silicon Valley and tech accelerators, the Beatles knew a thing or two about finding the right startup adviser. Their 1965 hit said it all: “Help! I need somebody. Help! Not just anybody. Help! You know I need someone. He-el-elp…” Every founder, no matter how sharp or motivated, needs some help, and a great … Continue reading “Why You’re Wiser with an Adviser”
Last Chance to Snag a Ticket for What’s Hot in Boston Biotech
Registration is closing soon for Xconomy’s annual life sciences bash, “What’s Hot in Boston Biotech.” It’s all happening tomorrow, May 11, at Biogen’s headquarters in Cambridge. We’ll be digging into several biotech topics, including the industry’s role in battling the opioid epidemic, the impact of patient advocacy on drug development and regulation, the importance of … Continue reading “Last Chance to Snag a Ticket for What’s Hot in Boston Biotech”
Akamai Invests in Wind Farm as Tech’s Renewable Energy Demand Grows
Akamai Technologies, a content delivery network and cloud computing services provider, has invested in a Texas wind farm as it attempts to fulfill a promise to use renewable energy to power half of its global network operations by 2020. Akamai (NASDAQ: [[ticker:AKAM]]) said it is making a 20-year investment in the planned Seymour Hills Wind … Continue reading “Akamai Invests in Wind Farm as Tech’s Renewable Energy Demand Grows”
Senate Vote Confirms Scott Gottlieb for FDA Commissioner
Scott Gottlieb will be the new FDA commissioner. The U.S. Senate voted 57 to 42 on Tuesday to confirm Gottlieb, a physician and venture capitalist, to lead the regulatory agency. He succeeds former FDA commissioner Robert Califf, who stepped down in January after President Donald Trump took office. Gottlieb is already familiar with the agency … Continue reading “Senate Vote Confirms Scott Gottlieb for FDA Commissioner”
Owl Labs Grabs $6M Led by Matrix, Teases Video Conferencing Device
Owl Labs, a Boston-based video conferencing startup that employs veterans of iRobot and HubSpot, announced today it has snagged a $6 million Series A funding round led by Matrix Partners. Founded in 2014, Owl Labs said it got seed funding from Playground Global Ventures and was the first company to work out of Playground’s Design Studio … Continue reading “Owl Labs Grabs $6M Led by Matrix, Teases Video Conferencing Device”
“Smart City” Startup Soofa Nabs $2.5M, Led by Underscore and Pillar
Should a bench be more than just a place to sit? For Soofa and its customers, the answer is yes. The Cambridge, MA-based startup makes solar-powered, sensor-equipped benches that double as charging stations for phones and other devices. These “smart” benches can also help municipalities and other partners measure the amount of activity in parks, … Continue reading ““Smart City” Startup Soofa Nabs $2.5M, Led by Underscore and Pillar”
Kite CAR-T Death: An Unwelcome Mystery as FDA Mulls Approval
In a lengthy interview in January, Kite Pharma CEO Arie Belldegrun was adamant that his company’s experimental cell therapy was different from one competitor, Juno Therapeutics, because unlike with Juno, no Kite patient had died from cerebral edema, or massive swelling in the brain. Belldegrun can no longer make that claim. Kite (NASDAQ: [[ticker:KITE]]) reported … Continue reading “Kite CAR-T Death: An Unwelcome Mystery as FDA Mulls Approval”
Dell Technologies Goes Public About $100M Venture Capital Arm
Austin—[Updated 5/9/17, 10:58 a.m. See below.] Dell Technologies is publicly unveiling a venture capital investment arm that has been quietly investing in startups since the operation was run by EMC, the data storage giant that Dell agreed to acquire for $67 billion in 2015. Called Dell Technologies Capital, the investment arm plans to provide funding to … Continue reading “Dell Technologies Goes Public About $100M Venture Capital Arm”
Audio Startup 60dB Upgrades Streaming App for Short Radio Stories
In the smartphone era, many music fans are abandoning downloads and even broadcast radio in favor of subscription-based streaming services. You can just press Play on Pandora, Spotify, or Apple Music and you’ll hear an endless stream of songs tailored to your interests. What’s strange, then, is that there’s no Pandora or Spotify for spoken-word … Continue reading “Audio Startup 60dB Upgrades Streaming App for Short Radio Stories”