Sometimes disruption comes in waves. Since the 1990s, hemophilia patients have had to inject themselves with drugs a few times a week to prevent dangerous internal bleeding. That could soon change. One drug already approved, from Roche, may only need to be taken once a month by hemophilia A patients. Another experimental therapy from Alnylam … Continue reading “Bio Roundup: Brii Does China, Hemophilia Updates, Right to Try & More”
Category: Detroit
Pfizer, Merck Lead Strata Oncology’s $26M Series B Round
In what company leaders describe as a “huge step,” Ann Arbor, MI-based precision medicine startup Strata Oncology this week closed a $26 million Series B investment round led by Pfizer Ventures and the Merck Global Health Innovation Fund. Other contributors to the round include Deerfield Management, Renaissance Venture Capital Fund, Arboretum Ventures, and Baird Capital. … Continue reading “Pfizer, Merck Lead Strata Oncology’s $26M Series B Round”
Request Your Invite for Our Napa Summit, June 14-15
In two and a half weeks, Xconomy will host our seventh annual Napa Summit: The Xconomy Retreat on Technology, Jobs, and Growth. In the heart of California’s wine country, it is our most exclusive, intimate, and unique conference. There are only a few tickets left—so request your invitation today to join fellow exemplary executives, innovators, … Continue reading “Request Your Invite for Our Napa Summit, June 14-15”
Renaissance VC Adds $81M to Draw More Outside Capital to Michigan
Renaissance Venture Capital Fund, an Ann Arbor, MI-based fund-of-funds, has racked up another $81 million after closing its third capital round last week. The firm has raised a total of $205 million since it was established in 2008, says CEO and fund manager Chris Rizik. Renaissance invests in VC funds across the country in order to … Continue reading “Renaissance VC Adds $81M to Draw More Outside Capital to Michigan”
Superpedestrian Scoops Up $16.5M, Enters Bike-Sharing Frenzy
Bike sharing is the new ride hailing. Similar to what has played out with Uber, Lyft, Didi Chuxing, and other private car-hailing app companies, investors are pumping hundreds of millions of dollars into bike-sharing startups around the world racing to be the leading operator of fleets of bicycles that people can rent on demand. The … Continue reading “Superpedestrian Scoops Up $16.5M, Enters Bike-Sharing Frenzy”
Amazon, Bedrock Announce Projects Tied to MI Strategic Fund Awards
Amazon will invest $150 million in a new package fulfillment center on the west side of Michigan, the tech giant announced today. Amazon (NASDAQ: [[ticker:AMZN]]) said it will lease a 100-acre site in Gaines Township from Steelcase, a Grand Rapids, MI-based furniture maker. A third-party developer will construct the facility. The Michigan Strategic Fund (MSF), … Continue reading “Amazon, Bedrock Announce Projects Tied to MI Strategic Fund Awards”
Mobileye Sets Safety-Based Rules of the Road for Self-Driving Tech
It’s been a busy year for Jerusalem-based Mobileye since Intel (NASDAQ: [[ticker:INTC]]) completed its $15.3-billion acquisition of the Israeli specialist in autonomous navigation technology. In a recent update, Mobileye co-founder and CTO Amnon Shashua said the company has almost doubled its workforce since the buyout. It plans to begin testing its self-driving technology in California … Continue reading “Mobileye Sets Safety-Based Rules of the Road for Self-Driving Tech”
Fixing the Clinical Trial Bottleneck by Making Patients a Priority
The world of medicine and drug development has transformed dramatically over the past 50 years. Today, we have biologic medicines, genomic sequencing technologies, and digital health tools that help patients become more engaged in their care. But one part of the equation hasn’t seen very much change at all: clinical trials. Clinical trials are a … Continue reading “Fixing the Clinical Trial Bottleneck by Making Patients a Priority”
U-M Students, Faculty Building Driverless Shuttle with Industry Help
Late last month, the University of Michigan-Dearborn unveiled a new autonomous shuttle project called MDAS.ai, in which students and faculty will build a driverless vehicle for low-speed, pedestrian-filled environments. Made possible through a collective $100,000 contribution from Osram Opto Semiconductors, Phantom Intelligence, Jungo Connectivity, and Vergence Automation, the project is designed to help students, researchers, … Continue reading “U-M Students, Faculty Building Driverless Shuttle with Industry Help”
6 Simple Steps to Avoid Becoming a Cybercrime Statistic in 2018
We can all agree that 2017 was a brutal year for cybersecurity. Verizon’s Data Breach Investigation Report identified passwords as the root cause of more than 81 percent of breaches in 2016 – an 18 percent increase from the previous year. And, it’s a safe guess that this year, the percentage will grow. At last … Continue reading “6 Simple Steps to Avoid Becoming a Cybercrime Statistic in 2018”
Bio Roundup: ASCO Abstracts, Migraine Drug Prices & “Blueprint” Fallout
There’s nothing abstract about a 20 percent jump in a company’s stock price. But yeah, that happened to Loxo Oncology when it released data previews for its American Society for Clinical Oncology presentations; the meeting starts in two weeks in Chicago. Wednesday was ASCO abstract day, and we’ll round up the headliners below, all with … Continue reading “Bio Roundup: ASCO Abstracts, Migraine Drug Prices & “Blueprint” Fallout”
EntryPoint Aims to Increase Inclusion, Diversity in Startup Ecosystem
The tech industry and the investment community that funds it are notorious for being, shall we say, safe spaces for white men. The myth of meritocracy persists in the tech world even in the face of data indicating a longstanding lack of diversity and inclusion. Innovation benefits from different perspectives, backgrounds, and ideas, but it’s … Continue reading “EntryPoint Aims to Increase Inclusion, Diversity in Startup Ecosystem”
Amgen Migraine Drug Gets FDA Nod, First in New Class of Medicines
[Updated 5/18/18, 8:38 a.m. See below.] An Amgen migraine drug developed to head off pain before it starts has won FDA approval, the first for a new class of preventive drug candidates for the condition. The Amgen (NASDAQ: [[ticker:AMGN]]) drug, erenumab (Aimovig), is a subcutaneous injection given once a month. The drug blocks the receptor … Continue reading “Amgen Migraine Drug Gets FDA Nod, First in New Class of Medicines”
Arevo Adds $12.5M to Expand 3D Printing into Manufacturing
[Updated 5/17/18, 9:45 am. See below.] Silicon Valley company Arevo, which competes with a growing number of rivals to transform 3D printing into a tool for mass manufacturing, announced today it raised $12.5 million in a Series B financing round. Arevo’s technology mix—which combines automated printing equipment with Web-based software and customized raw materials—exemplifies the … Continue reading “Arevo Adds $12.5M to Expand 3D Printing into Manufacturing”
MIT’s Inclusive Innovation Challenge Is Coming to Detroit in the Fall
MIT’s Inclusive Innovation Challenge (IIC), a competition awarding more than $1 million to tech entrepreneurs driving economic opportunities for workers, is coming to Detroit. The brainchild of the MIT Initiative on the Digital Economy, the IIC seeks to find and promote startups and entrepreneurial organizations using technology to increase financial prospects for low- and moderate-income … Continue reading “MIT’s Inclusive Innovation Challenge Is Coming to Detroit in the Fall”
Amgen Migraine Decision Looms, Maybe the Next Drug Price Fight, Too
For some migraine sufferers, bright lights or loud sounds are enough to touch off an attack. For others, stress sparks the onset of pain. Bright lights, loud sounds, stress: Migraine triggers vary from one patient to another. But a common element is the abundance of a pain-inducing protein in the blood. During a migraine attack, … Continue reading “Amgen Migraine Decision Looms, Maybe the Next Drug Price Fight, Too”
Silicon Valley, Detroit Need Each Other to Get Driverless Cars Humming
Last month, the University of Michigan hosted a daylong conference about the economic and social impacts of future mobility, when autonomous and connected vehicles will likely upend transportation as we know it. Because the research associated with autonomous vehicles and other mobility applications is ambiguous—with many experts having differing opinions on when and how self-driving … Continue reading “Silicon Valley, Detroit Need Each Other to Get Driverless Cars Humming”
The Revolution in Inflammation Drug Development
Chronic autoimmune and inflammatory diseases are painful and often lifelong conditions. I know this both as a scientist and a father, as my son, Jeremy, was diagnosed 12 years ago with Crohn’s disease, one type of inflammatory bowel disease (IBD). According to the National Institutes of Health, there are more than 80 autoimmune diseases affecting … Continue reading “The Revolution in Inflammation Drug Development”
Vesper Mics Up With $23M From Amazon, American Family, Baidu, Bose
Vesper Technologies, a high-tech microphone startup trying to ride the wave of voice-controlled devices, has summoned a $23 million investment from a group of well-known tech companies, venture capitalists, and an insurance firm. The Series B funding round was led by American Family Ventures, the venture arm of Madison, WI-based American Family Insurance. Other investors … Continue reading “Vesper Mics Up With $23M From Amazon, American Family, Baidu, Bose”
Arch’s Bob Nelsen on Big Biotech and Why Pharma Should Be Very Afraid
Arch Venture Partners co-founder and managing director Bob Nelsen is widely regarded as one of the most astute and successful life science investors and company builders in the game. The list of his portfolio company wins (if you think of raising money, going public, or being acquired as a win, which he doesn’t necessarily, read … Continue reading “Arch’s Bob Nelsen on Big Biotech and Why Pharma Should Be Very Afraid”
Venture Investors To Raise As Much As $100M To Fund Health Startups
Venture Investors plans to raise up to $100 million for a new, healthcare-focused venture capital fund, the Madison, WI-based firm said in a document recently filed with federal securities regulators. VI is the oldest and largest venture capital fund in Wisconsin. It created a new business entity, “Venture Investors Health Fund 6 Limited Partnership,” under … Continue reading “Venture Investors To Raise As Much As $100M To Fund Health Startups”
Powderkeg on a Mission to Unite, Grow Mid-American Tech Ecosystems
The East and West coasts have historically been the center of tech startup activity in the United States. . However, there is growing interest in innovation hubs in the middle of the country, especially as the high cost of coastal living is ever more prohibitive to many young entrepreneurs. One such effort to cultivate Midwestern … Continue reading “Powderkeg on a Mission to Unite, Grow Mid-American Tech Ecosystems”
Trump Pledges Lower Drug Prices, But Blueprint Is Short on Details
[Editor’s note: Corie Lok co-authored this report.] In a much anticipated speech at the White House this afternoon, President Trump unveiled a long-awaited plan meant to cut the cost of prescription drugs in the U.S. The administration’s “American Patients First” plan, released via a speech and an accompanying 38-page “blueprint” document, laid out some relatively … Continue reading “Trump Pledges Lower Drug Prices, But Blueprint Is Short on Details”
“Unseen Is Unsold:” VR & Analytics Study What and Why Shoppers Buy
Humans are great about saying a lot of things. We’re not that good about actually following through. See: New Year’s diet resolutions or election polls. That tendency affects retailers as well. Big stores and brands spend millions in market research to figure out what shoppers want and then model production and creative teams to create those … Continue reading ““Unseen Is Unsold:” VR & Analytics Study What and Why Shoppers Buy”
Bio Roundup: Moderna’s Billions, Cytokine Bets, Shire Acquired & More
Cytokine therapies for cancer aren’t new but they are attracting renewed interest. Some pharmaceutical companies see drug combinations using cytokines as a way to broaden the reach of immunotherapy, which still doesn’t work for the majority of cancer patients. This week, Eli Lilly (NYSE: [[ticker:LLY]]) showed how much it believes in cytokines. The Indianapolis drug maker … Continue reading “Bio Roundup: Moderna’s Billions, Cytokine Bets, Shire Acquired & More”
As Michigan VC Scene Matures, Funding Gaps, Diversity Are Challenges
In venture capital circles, one often hears that it’s not particularly useful to look at trends year over year; instead, analysts counsel, one should study trends in five-year cycles to get a more accurate picture of where things are. From that perspective, Michigan’s venture capital scene seems to be healthier than it was five years … Continue reading “As Michigan VC Scene Matures, Funding Gaps, Diversity Are Challenges”
New CEO in Driver’s Seat as Autonomic Scales Up Mobility Cloud
Autonomic, the Silicon Valley startup acquired in February by Ford Smart Mobility, announced growth plans for its Web-based transportation app development platform today, and a reshuffling of its leadership team. The new CEO is Gavin Sherry, who will steer an expansion of the Ford subsidiary’s Transportation Mobility Cloud, a software development hub that will be … Continue reading “New CEO in Driver’s Seat as Autonomic Scales Up Mobility Cloud”
Ascape Audio Debuts iPhone Battery Case with Built-In Wireless Earbuds
When we last checked in with Paul Schrems and the team behind Turtle Cell, the Ann Arbor, MI-based consumer electronics startup, it was the summer of 2014. After coming off a year of iteration and business-competition wins, as well as a stint in the University of Michigan’s Desai Accelerator, the company was preparing for a … Continue reading “Ascape Audio Debuts iPhone Battery Case with Built-In Wireless Earbuds”
Tome, Trek, Ford Collaborate on Bike-to-Vehicle Safety Standards
Last fall, Royal Oak, MI-based software startup Tome teamed up with Ford and Wisconsin’s Trek to work on B2V (bike-to-vehicle) technology that will help self-driving cars to better perceive cyclists on the road. Tome CEO Jake Sigal, a passionate cyclist who spends much of his free time biking, says teaching cars to see and anticipate … Continue reading “Tome, Trek, Ford Collaborate on Bike-to-Vehicle Safety Standards”
Intel Capital Showcases 12 Startups, Shift to Data-Centric Strategy
The temperature in California’s Palm Desert hit 107 degrees Tuesday, but indoors at Intel Capital’s Global Summit meeting, the corporate venture arm said it has invested a cool $115 million so far this year. Intel Capital wasn’t ready to disclose exactly how many startups it has funded, but it highlighted a dozen tech companies that … Continue reading “Intel Capital Showcases 12 Startups, Shift to Data-Centric Strategy”
ThoughtSpot Nabs $145M To Democratize A.I.-Driven Data Analysis
ThoughtSpot, which enables its clients’ ordinary staffers to conduct advanced data analysis to inform their business decisions, announced today that it has raised $145 million in a Series D funding round. The big funding infusion will help ThoughtSpot expand its global customer base, and it’s also good news for the company’s R&D and commercialization centers … Continue reading “ThoughtSpot Nabs $145M To Democratize A.I.-Driven Data Analysis”
Fictiv Raises $15M To Connect Tech Innovators & Parts Manufacturers
Fictiv, a San Francisco software startup that links hardware developers with parts manufacturers in China, announced Tuesday that it has raised $15 million in a Series B funding round led by a China-based investment firm, alongside investments from well-known American tech backers such as Bill Gates and Intel. Fictiv’s goal is to speed up the … Continue reading “Fictiv Raises $15M To Connect Tech Innovators & Parts Manufacturers”
Drive.AI Launches Pilot Program of Self-Driving Vehicles in Texas
Frisco, TX—Self-driving vehicles are coming to car-crazy Texas. San Francisco-based drive.AI announced on Monday a partnership with the city of Frisco, TX, and private developer Hall Group, which plans to start a driverless car service in July. Four bright-orange vans—the same vehicles that serve as New York taxis—will be part of a six-month pilot project … Continue reading “Drive.AI Launches Pilot Program of Self-Driving Vehicles in Texas”
Will New Study Cut Guesswork for Depression Medicine Prescriptions?
[Updated 5/7/18, 5pm ET. See below.] Genetic testing that helps guide more precise cancer treatment is making its way into standard practice in major U.S. medical centers. Could the same eventually be true for depression? One test maker thinks it has finally gathered enough evidence to convince psychiatrists to order its product and make more … Continue reading “Will New Study Cut Guesswork for Depression Medicine Prescriptions?”
Duo CEO Says New Detroit Office is Chance to Learn, Grow & Engage
Duo Security, the cybersecurity startup valued at just over $1 billion, has offices in Michigan, Texas, California, and the United Kingdom. It could have chosen anywhere on Earth to locate its newest outpost, announced last month, but the company chose Detroit. In a city hungry for opportunities with loads of innovation in its DNA, it … Continue reading “Duo CEO Says New Detroit Office is Chance to Learn, Grow & Engage”
Venture Firms to New York Wedding Startup Zola: ‘I Do’ to $100M
Most wedding registries are focused on the lead-up to the day of the ceremony. New York startup Zola also sees opportunity in connecting with—and making a sales pitch to—married couples years after they’ve tied the knot. Zola is an “e-commerce business disguised as a wedding company,” said Shan-lyn Ma, the startup’s founder and CEO, in … Continue reading “Venture Firms to New York Wedding Startup Zola: ‘I Do’ to $100M”
Bio Roundup: IDO Fallout, Express Scripts Dumps Amgen, Isaly Out & More
Here’s a case study of how fast things can change in biopharma. For a few years, a type of cancer drug called an IDO inhibitor was all the rage, a promising path to expanding the reach of immunotherapy. Major drug makers were dealing, too. Through acquisitions and alliances, they rolled out a spate of large-scale … Continue reading “Bio Roundup: IDO Fallout, Express Scripts Dumps Amgen, Isaly Out & More”
Toyota Research Institute to Open New Driverless Car Test Bed in MI
The state of Michigan notched another mobility-industry win today when the Toyota Research Institute (TRI) announced that a 60-acre parcel in Ottawa Lakes, MI, will be the home of a new autonomous vehicle development and testing facility, the first dedicated exclusively to TRI’s use. TRI is Toyota’s research arm, which aims to enhance the safety of … Continue reading “Toyota Research Institute to Open New Driverless Car Test Bed in MI”
New LLamasoft CEO Plans to Exploit Retail, Transportation Disruptions
Even though it’s been around for two decades, Ann Arbor, MI-based LLamasoft is one of the state’s biggest tech startup success stories. Llamasoft says its software optimizes the design of supply chains, enabling large, complex businesses to find ways to improve operations, lower risk, save money, and make faster decisions.The company has 400 employees in … Continue reading “New LLamasoft CEO Plans to Exploit Retail, Transportation Disruptions”
Cord-Cutting for Kids: Video App Kanopy Adds Free Children’s Shows
If you’ve already liberated yourself from a cable subscription in favor of streaming video services over the Internet, you’re parcelling out your dollars to get the content you want most from services such as Netflix, Hulu, and N.B.A. League Pass. A lesser-known option, Kanopy, offers an unusual streaming subscription deal: Pay nothing, because your university … Continue reading “Cord-Cutting for Kids: Video App Kanopy Adds Free Children’s Shows”
California’s Top Court Sets Tougher New Rules on Hiring “Gig Workers”
California employers who classify their workers as independent contractors will be consulting their lawyers today, says A. Mark Pope, an attorney who helped persuade the state’s highest court to establish sweeping new restrictions on hiring so-called “gig workers.” The California Supreme Court on Monday set new standards that will make it harder for companies in … Continue reading “California’s Top Court Sets Tougher New Rules on Hiring “Gig Workers””
Three Lessons Punk Rock Teaches Us About Being a Business Leader
Inspiration comes in many forms, and as an entrepreneur, I found mine early on in an unusual place: punk rock. There are strong parallels between the business of punk rock and startups. When you’re starting a new business venture, you wear many hats—leader, innovator, developer, marketer, HR rep—with very little budget or certainty. You might … Continue reading “Three Lessons Punk Rock Teaches Us About Being a Business Leader”
Express Scripts Picks Regeneron Over Amgen, Cuts Heart Drug Price
Regeneron Pharmaceuticals and partner Sanofi have cut an unusual deal with Express Scripts, the nation’s largest drug-buying middleman. The two drug makers will cut the price of their $14,000-a-year cholesterol-lowering therapy alirocumab (Praluent). In return, Express Scripts will quickly approve treatment requests. The deal also sidelines Amgen, whose rival heart drug evolocumab (Repatha) will no … Continue reading “Express Scripts Picks Regeneron Over Amgen, Cuts Heart Drug Price”
Why “Micro-Learning” is the New Diploma For Today’s Jobseekers
You’d be hard-pressed to find a workplace today where using technology isn’t an integral part of the job, whether it’s an AI-powered recruiting tool, special coding software for app development, or even just Google Sheets that help workers keep track of budgets. Whether you’re applying for a position in marketing or in the field of … Continue reading “Why “Micro-Learning” is the New Diploma For Today’s Jobseekers”
City Staffers Share Innovation Insights at Smart Cities Accelerator
In cities across the United States, the benefits of bike-sharing and electric scooters that can be easily rented with a smartphone app have often been overshadowed by controversy. In Dallas, Los Angeles, and Washington, DC, for example, complaints flooded into city offices earlier this year about the proliferation of “dockless” bikes cluttering sidewalks, handicap parking, … Continue reading “City Staffers Share Innovation Insights at Smart Cities Accelerator”
Amid #MeToo, MI Women’s Foundation Rebrands to Better Reflect Mission
The Michigan Women’s Foundation has a new name and an energized mission. Now called Michigan Women Forward (MWF), the rebranding was officially launched earlier this week in front of a crowd of 800 at Detroit’s Cobo Center. Carolyn Cassin, MWF’s CEO, explains that given the big moment women’s issues are currently having on the national … Continue reading “Amid #MeToo, MI Women’s Foundation Rebrands to Better Reflect Mission”
Bill Gates on Saving Babies, Educating Kids, and Picking a Major
On a sunny spring afternoon, William Henry Gates III strolled into the Harvard University science center. Several hundred students and invited guests were waiting for him in the auditorium. Security was tight, but not overly so (he’s used to it). Gates was there Thursday for a conversation with Frank Doyle, Harvard’s dean of engineering and … Continue reading “Bill Gates on Saving Babies, Educating Kids, and Picking a Major”
Bio Roundup: CRISPR Tests, Parkinson’s Questions, Opioid Bills & More
Politics is more partisan than ever these days, but the opioid crisis might be one of the few issues where elected officials find common ground. This week, members of Congress exercised a bipartisan effort in both chambers to advance dozens of measures proposing various approaches to fighting the opioid epidemic. A Senate committee voted unanimously … Continue reading “Bio Roundup: CRISPR Tests, Parkinson’s Questions, Opioid Bills & More”
Roundup: Genomenon, Develop(her), QL Demo Day, MBA Summit & More
Michigan’s innovation community continues to pump out news at a steady clip. Here are some of the latest updates from around the state. —Ann Arbor’s Genomenon, a startup focused on genomic search data, has struck a new partnership with Boston’s Rhythm Pharmaceuticals (NASDAQ: [[ticker:RYTM]]), a company working on treatments for rare obesity disorders. They will team up … Continue reading “Roundup: Genomenon, Develop(her), QL Demo Day, MBA Summit & More”
What President Trump Gets Wrong About Amazon’s Effect on the Economy
For the past week or so, President Trump has been deriding Amazon as a destroyer of jobs and the main reason many retail companies are failing. Unfortunately, this is a very one-sided and uninformed view of how Amazon is changing our economy. I run a retail operation that sells almost exclusively on Amazon. Since its … Continue reading “What President Trump Gets Wrong About Amazon’s Effect on the Economy”