The Obama administration’s push to sign up one million Americans for a long-term health study will start in New York, Pittsburgh, Chicago, and Tucson, AZ, top health officials said today. National Institutes of Health director Francis Collins (pictured) and FDA commissioner Rob Califf spoke on a call this afternoon to update the Precision Medicine Initiative, … Continue reading “Recruitment Goal In Obama Precision Med Study: 1M in 3 or 4 Years”
Category: Boston
BevSpot, With Harvard & MIT Roots, Grabs More Cash For Bar Software
[Updated 7/7/16, 9:19 a.m., with information from BevSpot press release and CEO interview.] BevSpot, a Boston-based startup that makes software that helps bars and restaurants manage inventory and analyze sales and operations data, has ordered up another round of investment dollars. In a new SEC filing, BevSpot says it raised $11 million in equity funding. … Continue reading “BevSpot, With Harvard & MIT Roots, Grabs More Cash For Bar Software”
Agenus Names Jean-Marie Cuillerot Head of Clinical Development
Agenus (NASDAQ: [[ticker:AGEN]]) has appointed Jean-Marie Cuillerot as its vice president and global head of clinical development. The Lexington, MA-based immuno-oncology company’s drug pipeline includes potential therapies for cancer, as well as shingles and malaria. Cuillerot’s cancer drug development experience includes posts at EMD Serono Research and Development Institute, Merck Serono, and Bristol-Myers Squibb (NYSE: … Continue reading “Agenus Names Jean-Marie Cuillerot Head of Clinical Development”
Pfizer Might Buy Bind Therapeutics From Bankruptcy for $20M
Bind Therapeutics and its treatment for non-small cell lung cancer may soon be owned by one-time partner Pfizer. Bind, which filed for Chapter 11 bankruptcy in May, asked the bankruptcy court on July 1 to approve a stalking-horse bid from Pfizer for $20 million, a fraction of the $70.5 million it raised in an initial … Continue reading “Pfizer Might Buy Bind Therapeutics From Bankruptcy for $20M”
With CF Pact, Moderna and Vertex Aim to Spray mRNA Into the Lungs
Moderna Therapeutics has spent years developing a way to coax a patient’s body to make its own protein-based drugs, with visions of treating conditions ranging from cancer to cardiology. Add cystic fibrosis to those ambitions, as Cambridge, MA-based Moderna is announcing today a collaboration with Boston-based Vertex Pharmaceuticals (NASDAQ: [[ticker:VRTX]]), a top maker of drugs … Continue reading “With CF Pact, Moderna and Vertex Aim to Spray mRNA Into the Lungs”
MiniLuxe Lands $7,499,994 New Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=ba7bfed1-703e-44e1-8950-cb70ca9df93b Date 7/6/2016 Company Name MiniLuxe Mailing Address 481 Harvard Street Boston, MA 02446 USA Company Description Taking care of yourself is about more than just looking good. It’s about feeling good. A mini-respite at MiniLuxe provides the me time you need to be your best self. Website http://www.miniluxe.com Transaction Type Venture … Continue reading “MiniLuxe Lands $7,499,994 New Round”
Harvard Startup HourlyNerd Taps $22M as World of Work Evolves
The global workforce is in the early stages of a shift away from traditional 9-to-5 office jobs and toward more flexible freelance work, thanks to new technologies and preferences among younger workers. The question is what a typical career will look like when the dust settles in the next decade or so. Will full-time jobs … Continue reading “Harvard Startup HourlyNerd Taps $22M as World of Work Evolves”
Boston Tech Watch: HourlyNerd, Uber, Noncompetes, Akamai, & More
We hope everyone enjoyed the long holiday weekend. After all the fireworks last night, it’s time to catch up on some of the hot news in Boston-area tech from the past week: —Boston-based HourlyNerd said Tuesday it raised $22 million in a Series C round led by General Catalyst Partners, with contributions from Highland Capital … Continue reading “Boston Tech Watch: HourlyNerd, Uber, Noncompetes, Akamai, & More”
3 Things You (Probably) Don’t Know about Indiana Innovation
People who live outside of Indiana probably know a few things about it: The Indianapolis 500, a.k.a. “The Greatest Spectacle in Racing,” is run every Memorial Day weekend; Indiana limestone was used to build the Empire State Building, the National Cathedral, and the Pentagon; and Indiana sugar cream pie is the best dessert ever. But … Continue reading “3 Things You (Probably) Don’t Know about Indiana Innovation”
HourlyNerd Lands $22,000,000 Series C Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=0947046d-96f6-46fd-9d17-4c013d71b6f0 Date 7/5/2016 Company Name HourlyNerd Mailing Address 280 Summer Street 7th Floor Boston, MA 02210 USA Company Description Instantly connect with 17,000 of the world’s smartest business experts in one easy place at a fraction of the price and start solving your business problems. Website http://www.hourlynerd.com Transaction Type Venture Equity Transaction … Continue reading “HourlyNerd Lands $22,000,000 Series C Financing”
Xconomy’s Top Innovation Stories of the Half Year
Here we are at the midpoint of 2016 already. Time to look back on the past six months—and some of the top stories of the year so far. The following represent a cross-section of what Xconomy offers on a daily basis: in-depth reporting from the front lines of technology and business innovation; coverage from 11 … Continue reading “Xconomy’s Top Innovation Stories of the Half Year”
Alnylam Advances RNAi Drug Results After Two Years of Treatment
Alnylam Pharmaceuticals is marching forward in its pursuit of developing a pair of RNA interference drugs that aim to reduce the levels of a protein known to cause a type of rare disease that can harm the nervous system or the heart—but there’s still plenty of work left to be done, even after the company … Continue reading “Alnylam Advances RNAi Drug Results After Two Years of Treatment”
Milestones of Innovation 12: Overflight Of Russia’s Ultimate Weapons
Sixty years ago, on the Fourth of July, 1956, the American President gained a capacity that has never been lost: clear pictures from above of Russia’s thermonuclear weapons delivery system. Because the images ended up shrinking the world’s appetite for tools of ultimate destruction, it is hard to think of a more significant innovation. The … Continue reading “Milestones of Innovation 12: Overflight Of Russia’s Ultimate Weapons”
Biotech Roundup: Moonshots, Pink Slips, Gilead, Brexit & More
The word of the week was “moonshot,” as U.S. Vice President Joe Biden’s cancer initiative convened a summit in Washington, DC. At the gathering, Biden took verbal shots at scofflaw cancer researchers and at drug prices, while the FDA said it would take a shot at restructuring the way it evaluates oncology products. Gilead Sciences … Continue reading “Biotech Roundup: Moonshots, Pink Slips, Gilead, Brexit & More”
Why Finance Should Take a Page Out of the Credit Card Industry’s Book
U.S. federal and financial regulators recently advised banks nationwide to assess the strength of their safeguards against cyber fraud. The warning comes after a string of cyber heists and attempted heists against banks around the world, including the $81 million theft from the Bangladesh central bank. These crimes have opened the financial industry’s eyes to … Continue reading “Why Finance Should Take a Page Out of the Credit Card Industry’s Book”
San Antonio Buys Time on Regulations to Find Place in Uber Economy
San Antonio—For those engaged in the ongoing saga of Uber and Lyft versus fingerprinting, the next date to mark is in October, at least in the Alamo City. Uber, Lyft, and Get Me will be able to continue offering rides to the people of San Antonio until at least October, after a decision yesterday by … Continue reading “San Antonio Buys Time on Regulations to Find Place in Uber Economy”
Bradford Networks Obtains $2,000,000 New Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=7467af75-eb24-40d2-8f5a-d73ed84bfa5f Date 7/1/2016 Company Name Bradford Networks Mailing Address 355 Congress Street Cambridge, MA 02210 USA Company Description Bradford Networks is the leading provider of rapid threat response solutions that minimize the risk and impact of cyber threats. Website http://www.bradfordnetworks.com Transaction Type Venture Equity Transaction Amount $2,000,000 Transaction Round Undisclosed Proceeds Purposes … Continue reading “Bradford Networks Obtains $2,000,000 New Financing Round”
Afeyan Named to Carnegie’s Class of “Great Immigrants”
Flagship Ventures founder and CEO Noubar Afeyan is among 42 honorees named to the Carnegie Corporation’s 2016 class of “Great Immigrants.” Other members of the class include Fei-Fei Li of Stanford University, Michael Moritz of Sequoia Capital, Thuan Pham from Uber, and Sundar Pichai from Google. Afeyan, a Lebanese native of Armenian heritage, serves as … Continue reading “Afeyan Named to Carnegie’s Class of “Great Immigrants””
Google Capital Backs Public Firm Care.com as Investment Lines Blur
[Corrected 6/30/16, 2:49 p.m. See below.] Google Capital’s $46.35 million investment in publicly traded Care.com, announced Wednesday, marked a departure from the firm’s usual bets on late-stage private companies and illustrated how the traditional lines in the venture capital world are being redrawn. Care.com (NYSE: [[ticker:CRCM]]) is the first investment in a public firm by … Continue reading “Google Capital Backs Public Firm Care.com as Investment Lines Blur”
Riding Moonshot, FDA Will Revamp Its Cancer Practice. To What End?
As part of a national cancer “moonshot” initiative led by Vice President Joe Biden, the FDA said Wednesday it would retool the way it evaluates cancer treatments and tests. But to what end? The goals of the FDA’s new Oncology Center of Excellence remain vague, as does its structure. In a speech Wednesday morning at … Continue reading “Riding Moonshot, FDA Will Revamp Its Cancer Practice. To What End?”
Harvard’s Springer Gets $51.5M From Pharmas, Others, For Latest Startup
Inside our bodies, our cells move around, communicate, form new tissue, and heal wounds with the help of proteins called integrins. But when disease occurs, integrins get the wrong cues and do damage—they might help tumors grow, or promote inflammation or scarring inside the body. Several drugs to block bad integrin behavior and treat a … Continue reading “Harvard’s Springer Gets $51.5M From Pharmas, Others, For Latest Startup”
Accion Systems Obtains $1,880,417 New Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=a855888e-ebf7-41dc-8581-0ce6edecc48c Date 6/30/2016 Company Name Accion Systems Mailing Address 56 Roland St. Boston, MA 02129 USA Company Description Accion Systems is printing propulsion systems for satellites based on proprietary technology developed at MIT. Our systems address an industry-wide issue: there are no suitable in-space propulsion options for small satellites, and systems designed … Continue reading “Accion Systems Obtains $1,880,417 New Financing Round”
FamilyID Receives $851,970 New Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=61a73332-d2af-4fc9-bc5b-32d70319143d Date 6/30/2016 Company Name FamilyID Mailing Address 61 Beaver Road Weston, MA 02493 USA Company Description FamilyID is a fantastically easy-to-use online registration and payment platform. Schools, camps, teams and clubs use FamilyID to create simple online forms, and then sit back as registrations, sign-offs and payments roll in. Website http://www.familyid.com … Continue reading “FamilyID Receives $851,970 New Financing”
Ancera Lands $8,900,000 Series A Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=35f7c14a-454f-4644-a1a7-381de4de8771 Date 6/30/2016 Company Name Ancera Mailing Address 21 Business Park Drive Branford, CT 06405 USA Company Description We build technological solutions that deliver meaning, not just data. We’re helping food producers assess microbial risk from farm to consumer. We do so by integrating the latest in single cell transport and characterization … Continue reading “Ancera Lands $8,900,000 Series A Financing”
IsoPlexis Secures $5,745,000 New Funding Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=9e2db940-241a-4624-8315-5ea23be897e2 Date 6/30/2016 Company Name IsoPlexis Mailing Address 35 NE Industrial Rd. Branford, CT 06405 USA Company Description Our proprietary single-cell multiplexing micro-immunoassay and software enable new therapeutic and diagnostic discovery opportunities. Single cell analysis facilitates determination of cellular subsets among heterogeneous cancer and immune cell populations. Website http://www.isoplexis.com Transaction Type Venture … Continue reading “IsoPlexis Secures $5,745,000 New Funding Round”
Morphic Therapeutic Garners $51,500,000 Series A Funding
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=0d6a6d72-6ca9-4dcc-855f-f7b47eec854a Date 6/30/2016 Company Name Morphic Therapeutic Mailing Address 35 Gatehouse Dr. Waltham, MA 02451 USA Company Description Morphic Therapeutics Inc. is engaged in the discovery and development of small molecules to block transmembrane integrin receptors, which play a role in several diseases. Website http://www.morphictx.com Transaction Type Venture Equity Transaction Amount $51,500,000 … Continue reading “Morphic Therapeutic Garners $51,500,000 Series A Funding”
Syros Cuts Price But Bags $50M in IPO to Fuel Cancer Drug Trials
Syros Pharmaceuticals has a long way to go before it knows whether its drug discovery work will pay off. But insiders and Wall Street investors have given the firm’s efforts a boost, helping it go public Wednesday evening with a $50 million IPO. Cambridge, MA-based Syros sold 4 million shares at $12.50 apiece in the … Continue reading “Syros Cuts Price But Bags $50M in IPO to Fuel Cancer Drug Trials”
No Stairway (Infringement) and the Importance of Shared Design Tools in Innovation
Led Zeppelin just won a major copyright case defending against infringement claims from the estate of Randy California—songwriter for the band Spirit. At first listen, the opening guitar part of Zeppelin’s Stairway to Heaven does sound a lot like California’s guitar part in the middle of Taurus. But as I explain in a longer blog … Continue reading “No Stairway (Infringement) and the Importance of Shared Design Tools in Innovation”
The Future of Human-Machine Culture Imagined At Robo Madness West
Roboticists covered a sweeping range of topics at Xconomy’s annual Robo Madness West conference last week, from the ethics of artificial intelligence to the powerful impact of robots that have faces. Two themes ran through all the panel discussions, whether they focused on robot design, logistics and manufacturing, drones, or artificial intelligence. Speakers repeatedly brought … Continue reading “The Future of Human-Machine Culture Imagined At Robo Madness West”
Moderna Gets $200M More, Deepens Merck Ties With New Cancer Pact
Moderna Therapeutics still hasn’t produced data in humans supporting its technology, which is meant to turn our bodies into little drugmaking factories. But the Cambridge, MA-based company nonetheless keeps grabbing the attention, and cash, of other drugmakers. Moderna said today that it will work with Merck (NYSE: [[ticker:MRK]]) to develop “personalized” cancer vaccines based on … Continue reading “Moderna Gets $200M More, Deepens Merck Ties With New Cancer Pact”
Intensity Therapeutics Garners $10,000,000 Series A Funding Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=c68c1857-7562-4e53-920c-c5caa547f583 Date 6/29/2016 Company Name Intensity Therapeutics Mailing Address 8 Wright Street Westport, CT 06880 USA Company Description Intensity Therapeutics is a biotechnology company whose mission is to greatly extend the lives of cancer patients. Late stage solid cancer consists of well-defined visible tumors and unseen micro-metastases either in the blood or … Continue reading “Intensity Therapeutics Garners $10,000,000 Series A Funding Round”
Startup M&A: Why a Letter of Intent Deserves Your Full Attention
You might know it as a letter of intent or a term sheet. Maybe you’ve heard it referred to as an MOU, or memorandum of understanding. Whatever you call it, this document of about five pages is a summary of the terms of a deal the parties hope to close down the line. If buyers … Continue reading “Startup M&A: Why a Letter of Intent Deserves Your Full Attention”
CloudLock Bought by Cisco for $293M After Pivot to Cloud Security
The Boston-area cybersecurity scene is ripe with acquisition targets. IBM bought incident-response firm Resilient Systems earlier this year. Now, Cisco Systems says it is acquiring CloudLock, a Waltham, MA-based cloud security company, for $293 million in cash and stock, plus retention-based incentives for CloudLock employees who join Cisco. It’s one of the biggest exits of the … Continue reading “CloudLock Bought by Cisco for $293M After Pivot to Cloud Security”
More Job Cuts at Infinity As AbbVie Sends Back Blood Cancer Drug
The outlook for Infinity Pharmaceuticals didn’t look good after its blood cancer drug, duvelisib, came up short in a critical clinical trial a few weeks ago, and the situation has gotten worse today. AbbVie has sent the rights to duvelisib back to Infinity, leading to another round of job cuts at the Cambridge, MA, company. … Continue reading “More Job Cuts at Infinity As AbbVie Sends Back Blood Cancer Drug”
Amid Brexit Fallout, U.K.-Listed PureTech Debuts Speech Diagnosis Firm
[Updated 6/28/16, 12:50pm. See below.] PureTech Health starts companies in cutting-edge areas of biomedical science and often owns them outright. Its latest aims to create software that listens for warning signs of depression in people’s speech patterns. The unveiling of the firm, called Sonde Health, comes at a curious time for Boston-based PureTech. Shares of … Continue reading “Amid Brexit Fallout, U.K.-Listed PureTech Debuts Speech Diagnosis Firm”
Cisco Acquires CloudLock for $293,000,000
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=a4105d5f-4456-4485-a32c-e0e5017ecbe2 Date 6/28/2016 Company Name CloudLock Mailing Address 203 Crescent Street Waltham, MA 02453 USA Company Description The leading CASB and Cybersecurity-as-a-Service provider, protecting enterprises from compromised accounts, cloud malware, and data breaches in the cloud. Website http://www.cloudlock.com Transaction Type M&A Transaction Amount $293,000,000 Transaction Round Proceeds Purposes M&A Terms The acquisition … Continue reading “Cisco Acquires CloudLock for $293,000,000”
Regulus Shares Crumble As FDA Halts Testing of Hepatitis C Drug
A new wave of drugs has changed the way hepatitis C is treated. Regulus Therapeutics has not been part of that wave, but the company’s plans to join it took a big hit this afternoon. La Jolla, CA-based Regulus (NASDAQ: [[ticker:RGLS]]) said that the FDA has suspended the clinical testing of its lead drug, RG-101, … Continue reading “Regulus Shares Crumble As FDA Halts Testing of Hepatitis C Drug”
Brexit and the Impact in the London Startup Industry
Editor’s note: Xconomy invited Marcelo Calbucci, a Seattle serial entrepreneur and startup stalwart who just announced plans to move with his family to London, to reflect on the Brexit vote. No, the skies are not falling. The U.K. vote to exit the European Union has passed, and there is an enormous amount of uncertainty right … Continue reading “Brexit and the Impact in the London Startup Industry”
After Failed Schizophrenia Trial, Forum Pharma To Shutter This Week
Waltham, MA-based Forum Pharmaceuticals, which spent more than decade pursuing a drug for Alzheimer’s and other neurological diseases, is shutting down, Xconomy has learned. According to a Forum spokesperson, the company will be closed “by the end of the week.” The process appears to have begun already: Forum’s website is no longer operating, and as … Continue reading “After Failed Schizophrenia Trial, Forum Pharma To Shutter This Week”
Workable Ideas: Beyond Bias in Hiring
From the event organizer: “How can we make more objective decisions about who we hire? Biased hiring leads companies to miss out on some of the best and brightest talent—not to mention the business benefits of building a diverse and inclusive workforce. On June 28, learn how to reduce bias hiring and recruit the best … Continue reading “Workable Ideas: Beyond Bias in Hiring”
HeartWare Acquired by Medtronic for $1.1B in Medical Device Consolidation
Just another billion-dollar exit for a Massachusetts company most people have never heard of. This one has an interesting backstory, in a field rife with consolidation and would-be deals. HeartWare International said Monday it is being acquired by medical device giant Medtronic for $1.1 billion in cash. At $58 a share, that’s a 93 percent … Continue reading “HeartWare Acquired by Medtronic for $1.1B in Medical Device Consolidation”
Boston Tech News: Funding, Fantasy Sports, Co-working Spaces & More
[Updated 6/27/16, 2:13 p.m., to include Hack/secure news.] It’s time to catch up on a few recent developments in the Boston tech world. We’ve got funding news, the latest on the DraftKings saga in New York, shuttered co-working spaces, and people on the move. Read on for details. —Accomplice’s Chris Lynch and Cort Johnson have formed an … Continue reading “Boston Tech News: Funding, Fantasy Sports, Co-working Spaces & More”
ObserveIT, Led by Ex-NHL Defender, Looks to Shut Down Cyber Threats
Some comparisons between business and sports are cliché. But when it comes to leadership in cybersecurity, having a CEO who knows how to play defense can be pretty relevant. That bodes well for ObserveIT, a Boston-based security tech company focused on stopping insider threats. In March, the firm brought on a new chief executive, Mike … Continue reading “ObserveIT, Led by Ex-NHL Defender, Looks to Shut Down Cyber Threats”
Boston’s Newest Innovators and Influencers Meet at INFLUX: The Photos
We had a grand old time at this week’s blowout Boston event, Influx. Leaders from Akamai, MIT, Harvard, and other venerable institutions met with top folks from GE Ventures, IBM Watson Health, Dell-EMC, and startups and investors, to talk about boosting their businesses—and the region’s innovation profile—for the future. The Museum of Science was a … Continue reading “Boston’s Newest Innovators and Influencers Meet at INFLUX: The Photos”
Biotech Roundup: CRISPR’s 1st Trial, IPO Insiders, Zika & More
It’s a week for the history books. The United Kingdom voted to leave the European Union last night, triggering worldwide financial fears and, perhaps, a breakup of the U.K. itself. Closer to home, Cleveland (pictured) celebrated LeBron James & the Cavaliers’ historic comeback that brought the city its first sports title in over 50 years. … Continue reading “Biotech Roundup: CRISPR’s 1st Trial, IPO Insiders, Zika & More”
Google Fiber Buys Webpass in Wireless Internet Land Grab
Google Fiber plans to acquire Webpass in a deal that trims the ranks of independent Internet service providers—an industry already maligned for its lack of competition—but ultimately could boost consumer access to high-speed Internet. San Francisco-based Webpass has spent the past 13 years working to bring ultra-fast wireless Internet access to homes (primarily large apartment … Continue reading “Google Fiber Buys Webpass in Wireless Internet Land Grab”
Downplaying Bitcoin, Circle Downloads $60M For China, Europe Push
Circle Internet Financial aims to make transferring money to a friend across town or on the other side of the world as easy as sending a text message. That plan got a big boost with Wednesday’s announcement of a $60 million windfall from mostly Chinese investors and the formation of a Beijing-based venture that will … Continue reading “Downplaying Bitcoin, Circle Downloads $60M For China, Europe Push”
As Macchiarini Faces Charges, Biostage Forges Ahead With New Tech
Engineered organ developer Harvard Apparatus Regenerative Technology has done all it can to disassociate itself from the surgeon Paolo Macchiarini. The Holliston, MA-based company is now known as Biostage (NASDAQ: [[ticker:BSTG]]), uses a different technology, is led by a different management team, and no longer helps Macchiarini perform the surgeries that led to the company’s … Continue reading “As Macchiarini Faces Charges, Biostage Forges Ahead With New Tech”
The Evolution of the App Stores
In many ways, Apple and Google are following similar paths. At their annual developer conferences, Google I/O, held last month, and Apple’s WWDC, last week they both announced updates to their development platforms. Google is making major improvements to Android Studio, while Apple is continuing to invest in Swift and announced Playgrounds, an exciting new … Continue reading “The Evolution of the App Stores”
Alignable Lands New Funding
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=7c2030a5-1141-495b-808f-2b8e85d20e01 Date 6/23/2016 Company Name Alignable Mailing Address 205 Portland Street Waltham, MA 02114 USA Company Description Alignable shifts the power to local businesses by giving them a place to network, market together, grow and support their communities. Website http://www.alignable.com Transaction Type Venture Equity Transaction Amount Undisclosed Transaction Round Undisclosed Proceeds Purposes … Continue reading “Alignable Lands New Funding”