Category: Detroit

FDA’s Rachel Sherman on Right to Try, Succession Trouble & More

The opioid crisis. Right to Try legislation. The first human trials of CRISPR-Cas9 gene editing technology. These are just a few of the many topics at the feet of the FDA this year. Speaking at the BIO CEO & Investor Conference in New York on Tuesday, principal deputy commissioner Rachel Sherman, the FDA’s second in … Continue reading “FDA’s Rachel Sherman on Right to Try, Succession Trouble & More”

E-ZPass Links With PayByCar to Advance In-Vehicle Payments

In the future, you might pay for gas or a parking spot by touching a button on your vehicle’s dashboard. Car companies are already starting to introduce these kinds of in-vehicle payments systems. But it’ll likely take years before they come standard in most new automobiles, and even longer for cars equipped with such systems … Continue reading “E-ZPass Links With PayByCar to Advance In-Vehicle Payments”

Trump Budget Touts Lower Drug Prices, But No Medicare Negotiation

As president-elect, Donald Trump in January 2017 slammed drug companies for “getting away with murder” and said he supported Medicare negotiation. He vowed during last month’s State of the Union speech that drug prices “will come down.” Today, his administration’s fiscal 2019 budget proposal laid out what it calls a “comprehensive” strategy to lower drug … Continue reading “Trump Budget Touts Lower Drug Prices, But No Medicare Negotiation”

Buying Shoes? Digital Stylists Use A.I. to Suggest Clothing to Match

The black skirt had multiple personas. The fact that it was made of leather gave it an edgy vibe, but its A-line fit-and-flair cut was more flirty and feminine. “I fell in love with it,” says Michelle Bacharach, co-founder of FindMine. “But as soon as I brought it home, I wondered, ‘how do I wear … Continue reading “Buying Shoes? Digital Stylists Use A.I. to Suggest Clothing to Match”

Execs Talk Hurdles As Immunotherapy Combos, CAR-T Launches Progress

With multiple products on the market and many more coming, it’s easy to think that cancer immunotherapy has arrived. In reality, however, we’ve only just begun to figure out how to coax the immune system into killing cancer. That’s why a mad dash is on to expand its reach, and a panel of experts invested … Continue reading “Execs Talk Hurdles As Immunotherapy Combos, CAR-T Launches Progress”

Fintech Startup Autobooks Raises $10M from Group of Midwestern VCs

Autobooks, the Detroit-based financial technology startup spun out of Billhighway in 2015, has raised $10 million in a Series A1 funding round. Contributors included Draper Triangle, Baird Capital, Detroit Venture Partners, Invest Michigan, and CU Solutions Group. Steve Robert, CEO of Autobooks, says this latest round comes a few months after the company raised a … Continue reading “Fintech Startup Autobooks Raises $10M from Group of Midwestern VCs”

As Trump Budget Addresses Opioid Crisis, BIO Report Reveals Scarce Pain Drug Development

[Updated 2/12/2018, 1:37pm ET, see below.] With the opioid epidemic showing little sign of letting up, new ways of treating chronic pain are desperately needed. But the development of non-addictive, non-opioid pain drugs lags far behind drug R&D for other diseases (I wrote a few months ago about why that is), and a report from … Continue reading “As Trump Budget Addresses Opioid Crisis, BIO Report Reveals Scarce Pain Drug Development”

Uber and Waymo Reach $245M Settlement in Driverless Tech Lawsuit

After months of breathless anticipation and a week of bro-tastic testimony, the Waymo v. Uber lawsuit, in which Google’s driverless tech arm sued the ride-hailing pioneer over allegedly stolen autonomous vehicle technology, is over. In a surprise move, Uber announced today that it has settled with Waymo, offering the company 0.34 percent of Uber’s equity at its current … Continue reading “Uber and Waymo Reach $245M Settlement in Driverless Tech Lawsuit”

Bio Roundup: Lung Cancer Questions, Migraine Races, HIV Battle & More

The top biopharma story of the week involves the fast-moving field of lung cancer, which, as we’ve written previously, has several key trials reading out in 2018. A big domino fell this week: data from a two-drug immunotherapy combination developed by Bristol-Myers Squibb. But the results, touted as positive, left more questions than answers. First, … Continue reading “Bio Roundup: Lung Cancer Questions, Migraine Races, HIV Battle & More”

Genomenon and Saphetor Announce Collaboration to Share Genomic Data

Genomenon, a University of Michigan spinout that has created a search engine for genomics literature, this week announced a collaboration with Saphetor, a Swiss company that offers precision medicine analysis. Genomenon CEO Mike Klein says the partnership broadens the productivity of each company’s platform and benefits their users. Last year, Genomenon went live with Mastermind, … Continue reading “Genomenon and Saphetor Announce Collaboration to Share Genomic Data”

Instant Gratification: Whole Foods, Target Offer Same-Day Delivery

[Updated 2/8/18, 1:39 pm.] The race is on to sign up consumers seeking same-day delivery of groceries, household items, and personal goods. Late on Wednesday, Amazon (NASDAQ: [[ticker:AMZN]]) announced it has started free two-hour delivery of products from Whole Foods Market, the most significant example of the e-commerce giant using technology at the Austin, TX-based … Continue reading “Instant Gratification: Whole Foods, Target Offer Same-Day Delivery”

Battery Startup Ionic Materials Gets $65M Jolt From Nissan & Others

[Updated 2/16/18, 5:27 pm. See below.] Big automakers are betting that solid-state battery technology from Massachusetts-based startup Ionic Materials could eventually challenge the standard lithium-ion batteries used in today’s electric vehicles. Woburn, MA-based Ionic announced Wednesday it secured $65 million in a Series C funding round. The investors include Alliance Ventures—a venture capital fund backed … Continue reading “Battery Startup Ionic Materials Gets $65M Jolt From Nissan & Others”

Detroit Needs Seed-Stage Capital More Than VC Disruption

Big changes are happening in the venture asset class: SoftBank somehow wants to put $880 billion to work in the next 10 years; Sequoia (and the other flagship growth firms) are trying to figure out how to compete and are raising huge funds; Social Capital is trying to make going public easier through blank check … Continue reading “Detroit Needs Seed-Stage Capital More Than VC Disruption”

Big Car-Auction Firm KAR Buys SF Mobility Support Startup Stratim

With an eye toward a greater role in the future of mobility services, the big Indiana used-car auction company KAR announced Wednesday it acquired Stratim, a software startup that organizes maintenance and repairs for car-sharing fleets. Carmel, IN-based KAR (NYSE: [[ticker:KAR]]) says Stratim not only augments its core auction business, but also bolsters its advances … Continue reading “Big Car-Auction Firm KAR Buys SF Mobility Support Startup Stratim”

Medical and Patient Groups Warn Congress Against “Right to Try”

Dozens of medical organizations and patient advocacy groups are pushing back against so-called “right-to-try” legislation that passed the Senate in August and is now under consideration in the House. An open letter sent today to House leaders is the latest opposition to the Republican-led push to give desperate patients access to experimental drugs without FDA … Continue reading “Medical and Patient Groups Warn Congress Against “Right to Try””

Walmart Brings Virtual Reality to Retail With Purchase of Spatialand

Walmart’s tech incubator in Silicon Valley, Store No 8, has acquired Spatialand, a virtual reality software firm, as its third portfolio company. While much of the focus in using VR has been on gaming and entertainment, “virtual reality has the potential to reinvent the consumer experience—with an experience we call contextual commerce,” according to a … Continue reading “Walmart Brings Virtual Reality to Retail With Purchase of Spatialand”

After Record-Breaking 2017, Invest Michigan Expects Another Big Year

Invest Michigan, the Detroit-based early-stage capital fund, had an eventful 2017 and is off to a busy start already in 2018. We caught up with CEO Charlie Moret for an update and to find out what’s ahead for the fund in the coming year. Invest Michigan, established in 2014 by the Michigan Economic Development Corporation, … Continue reading “After Record-Breaking 2017, Invest Michigan Expects Another Big Year”

Pay It Forward: Capital Drives Bio Innovation in San Diego & Beyond

After starting Organovo in 2007, I spent much of the next decade as CEO seeking financing to advance our bioprinting technology. Because I stepped out of an operational role early last year, I am now in a position of providing financing to aspiring life sciences entrepreneurs.  The change has caused me to reflect a bit … Continue reading “Pay It Forward: Capital Drives Bio Innovation in San Diego & Beyond”

E-Commerce Firm Dearduck Uses A.I. in the Hunt for the Perfect Gift

Houston—Knowledge is power, but too much of a good thing can render data meaningless. That’s the struggle many retailers have in an age of data analytics. Think about the retailer e-mails we receive daily or the ads that appear on Google or our social media sites. Though based on our Web searches, those ads don’t … Continue reading “E-Commerce Firm Dearduck Uses A.I. in the Hunt for the Perfect Gift”

University of Michigan Presents: Startup High School

Startup High School was founded in 2013 with the primary goal of expanding high school students’ creativity and innovation and inspiring them to get involved in entrepreneurship. Hundreds of high school students submit their unique startup ideas to compete in a national video pitch challenge. The applicants that stand out the most will qualify to … Continue reading “University of Michigan Presents: Startup High School”

Entrepreneurs Look to Angels and Micro-VCs for Cash

You don’t need me to tell you it’s a rough world out there for startups. Venture capitalists have been unusually stingy lately, hanging on to billions of dollars they’d typically be channeling into promising young companies. When those investors do open their wallets, they’re shunning risky investments in favor of what the Wall Street Journal … Continue reading “Entrepreneurs Look to Angels and Micro-VCs for Cash”

Bio Roundup: Wilson’s Warning, Amazon’s Health Biz, Moderna Cash & More

The State of the Union address was…. long. At one hour and 20 minutes, President Trump fell about 9 minutes shy of the high mark. But those who stayed tuned in heard comments about several health policy matters. The president credited the FDA for a record number of generic drug approvals in 2017, which PwC … Continue reading “Bio Roundup: Wilson’s Warning, Amazon’s Health Biz, Moderna Cash & More”

A.I. Meets Ethnography: Spatial Drives Mobility Via Social Media Data

We’ve all heard the old chestnut about being careful what we say on social media, because once it’s posted to the Internet, it lives on in perpetuity. Despite those warnings, people reveal an enormous amount about their lives, opinions, and preferences on sites such as Facebook and Twitter, and a Cincinnati-based startup called Spatial is … Continue reading “A.I. Meets Ethnography: Spatial Drives Mobility Via Social Media Data”

Microsoft to Provide Backing for Gener8tor’s Detroit Programs

Microsoft has expanded its partnership with Gener8tor, an organization that holds training programs for entrepreneurs in several Midwestern states, to support startups with connections to the Detroit area. Wisconsin-based Gener8tor said that with support from Microsoft (NASDAQ: [[ticker:MSFT]]), it will enroll up to 15 companies in free, seed-stage accelerator programs each year. Startups selected to … Continue reading “Microsoft to Provide Backing for Gener8tor’s Detroit Programs”

Xconomy Bookclub: “Inferior” Peruses Science’s Historic #MeToo Bias

In his now infamous memo, ex-Google engineer James Damore cited scientific evidence to illustrate why women may not be suited for jobs at some of today’s leading tech companies. Women, he argued, are biologically more attuned to “people” jobs rather than “thing” jobs, like those in technology. But what Damore was doing, others pointed out, … Continue reading “Xconomy Bookclub: “Inferior” Peruses Science’s Historic #MeToo Bias”

Techstars, Air Force Reveal First Boston Accelerator Investments

[Updated 2/1/18, 9:52 am. See below.] Techstars today announced the companies participating in the inaugural session of its new autonomous technology startup accelerator program in Boston, and, as advertised, there are a lot of drones involved. Six of the 10 participating companies are focused on unmanned aerial vehicles, including businesses focused on designing and making … Continue reading “Techstars, Air Force Reveal First Boston Accelerator Investments”

Look Out, Investors: Cryptocurrency Values Slide As Warnings Take Off

Bitcoin and other cryptocurrencies have seen dramatic but volatile price surges during the past year. But this month their billions in estimated market value are eroding, amid widening suspicions against one trading platform, a half-billion-dollar heist from another exchange, and an awakened global regulatory community. Warnings are on the rise from regulators, researchers, banking executives—and … Continue reading “Look Out, Investors: Cryptocurrency Values Slide As Warnings Take Off”

As A.I. Takes Off, We Need a Plan to Deal with Societal Disruption

As an Xconomist, I have been asked to predict what technology might really take off in 2018. My response is something of a “cheat” in that it relates to artificial intelligence (AI), a technology that has been poised to take off next year for the past several decades and a topic about which I have … Continue reading “As A.I. Takes Off, We Need a Plan to Deal with Societal Disruption”

After Paper Shakes Sector, Gene Therapy Leader Jim Wilson Talks Safety

[Updated, 1/31/18, see below] Gene therapy pioneer James Wilson and University of Pennsylvania colleagues sounded an alarm Tuesday morning about the use of gene therapy to treat severe diseases like spinal muscular atrophy and Duchenne muscular dystrophy, sending a chill across the sector. Shares of several companies inched downward as word spread about the UPenn … Continue reading “After Paper Shakes Sector, Gene Therapy Leader Jim Wilson Talks Safety”

Evicted from the Smart City: No Citizens Needed

Tech vendors know when they knock on the doors of local politicians to pitch smart cities technologies and promising billions in savings, they are going to find a receptive audience. Big Tech promises what politicians desperately want to hear: that we can address deep-seated, structural urban problems through business-led technological innovation and somehow sidestep the … Continue reading “Evicted from the Smart City: No Citizens Needed”

Evergage Scoops Up MyBuys to Make Shopping More Personal

Evergage has acquired MyBuys in a deal that underscores the increasing importance of personalization in marketing products to consumers. Somerville, MA-based Evergage declined to share the price it paid to purchase the MyBuys merchandising products business from New York-based Magnetic, an advertising technology firm that merged with MyBuys in 2015. An undisclosed number of MyBuys … Continue reading “Evergage Scoops Up MyBuys to Make Shopping More Personal”

After Conquering Detroit Auto Show, Carmera to Expand Mapping Service

At the North American International Auto Show, which just wrapped in Detroit, New York-based Carmera won best in show at the startup competition hosted by AutoMobili-D, and also received startup of the year honors in the autonomous driving category from the state’s PlanetM program. Not bad for a company that just exited stealth mode a … Continue reading “After Conquering Detroit Auto Show, Carmera to Expand Mapping Service”

Here’s What I Made (Finally) With My Glowforge Laser Cutter

When I lifted the lid on the Glowforge laser cutter to reveal the family portrait engraved on a wooden jigsaw puzzle, it brought a smile to my face like few other tech products I’ve used before. This simple project—enabled by a very complex machine—was a long time coming, but it was worth the wait. I … Continue reading “Here’s What I Made (Finally) With My Glowforge Laser Cutter”

Ford Buys Autonomic, TransLoc as It Rolls Toward Autonomous Future

The mobility sector’s mergers and acquisitions continue at a furious pace, the latest being Ford’s announcement this week that it bought TransLoc and Autonomic, two startups it had been partnering with as part of its efforts to get self-driving cars on the road. The terms of the deals weren’t disclosed, but one of the acquisitions … Continue reading “Ford Buys Autonomic, TransLoc as It Rolls Toward Autonomous Future”

Armune Bio’s Cancer Detection Tech Finds New Home with Exact Sciences

The annual J.P. Morgan Healthcare Conference, held earlier this month in San Francisco, is a popular venue for biotech companies to announce new deals and milestones achieved. One such announcement from this year’s event has largely flown under the radar:  Madison, WI-based molecular diagnostics company Exact Sciences acquired Armune BioScience, a cancer diagnostic startup with … Continue reading “Armune Bio’s Cancer Detection Tech Finds New Home with Exact Sciences”

Bio Roundup: Spark v. ICER, A Solid Revelation, T Cell Deals & More

The United States has a new Health and Human Services chief who is expected to weigh in on the country’s drug-pricing debate. But how Alex Azar, a former pharma executive at Eli Lilly (NYSE: [[ticker:LLY]]), plans to throw his weight around remains to be seen. One of the latest exhibits in the debate is an … Continue reading “Bio Roundup: Spark v. ICER, A Solid Revelation, T Cell Deals & More”

Solid Discloses Duchenne Problems in IPO & Raises Rival’s Hackles

[Updated, 1/26/18, see below] Solid Biosciences was expected to ride gene therapy’s wave of recent momentum to an IPO this week. But new revelations have clouded the offering, as the company revealed just before going public that its most advanced drug candidate has been under FDA scrutiny since mid-November. The gene therapy, SGT-001, is being … Continue reading “Solid Discloses Duchenne Problems in IPO & Raises Rival’s Hackles”

Boston Scientific Pumps $90M Into Heart Device Startup Millipede

Boston Scientific is infusing medical device company Millipede with $90 million, an equity investment that comes with the option to acquire the startup outright. According to the agreement, Marlborough, MA-based Boston Scientific (NYSE: [[ticker:BSX]]) must exercise its option to acquire Millipede before the startup completes its ongoing clinical trial for its heart valve repair device—as … Continue reading “Boston Scientific Pumps $90M Into Heart Device Startup Millipede”

SoftBank Continues Funding Spree, Leads $865M Round for Katerra

Katerra, a building construction startup inspired by the efficient practices of electronics manufacturing, announced today it has raised $865 million in a Series D fundraising round led by the SoftBank Vision Fund. The company was co-founded in 2015 by Michael Marks, the former CEO of contract electronics manufacturer Flextronics. Katerra has large-scale ambitions that match the … Continue reading “SoftBank Continues Funding Spree, Leads $865M Round for Katerra”

Should Startups Extend the Window to Exercise Options?

Pinterest did it. Square did it. And Coinbase did it, too. These unicorns have all given departing employees more than the standard 90 days to exercise their stock options. They’ve extended the window to exercise options for employees who have at least a minimum period of service. The tech recruiting site Triplebyte urged an even … Continue reading “Should Startups Extend the Window to Exercise Options?”

Facebook Touts Countermeasures to Election Hacking: Are They Enough?

Facebook expanded its mea culpa on Monday for failing to prevent “bad actors” such as Russian entities from using the social media platform to distort democratic processes—notably the U.S. presidential election in 2016. The company unveiled another series of measures it’s taking to prevent malefactors, who hide behind false names, from spreading fake and incendiary … Continue reading “Facebook Touts Countermeasures to Election Hacking: Are They Enough?”

Hey Alexa, What’s in a Name? Actually, Let’s Call You Amazon

With “Hey Google” and “Alexa” echoing from the expo halls of Las Vegas to millions of homes, the hype around voice-controlled computing is reaching a new peak in early 2018. Voice-controlled devices are permeating our world, and this new user interface is the future of computing—or so we are told by the companies purveying it. … Continue reading “Hey Alexa, What’s in a Name? Actually, Let’s Call You Amazon”

Cargo Zooms Ahead with New Cash, Plans to Expand to 10 Cities

Score one for mobile convenience stores. Cargo, a New York City-based graduate of the Techstars Mobility accelerator, announced Monday it has raised more money from investors, reached its one millionth passenger, and will soon expand from test markets in New York, Chicago, and Boston to new cities . We caught up with Cargo founder and … Continue reading “Cargo Zooms Ahead with New Cash, Plans to Expand to 10 Cities”

Why Spark and Watchdog ICER Don’t See Eye-to-Eye on $850K Gene Therapy

The first gene therapy approved in the U.S. costs $850,000. Announcing the price on Jan. 3, its owner Spark Therapeutics held out the possibility of some relief, such as installment payments, or slim rebates if the drug, a one-time shot into each eye to reduce or reverse inherited vision loss, doesn’t work or wears off. … Continue reading “Why Spark and Watchdog ICER Don’t See Eye-to-Eye on $850K Gene Therapy”

Democratization of Automation: The Next Generation of Industrial Robotics

In the coming years, artificial intelligence will have many transformative impacts, but the one perhaps most resembling science fiction will be the rise of autonomous physical systems: real-world systems that can make decisions for themselves. Of these autonomous systems, self-driving cars have captured the most attention. But the field of manufacturing, which represents one-sixth of … Continue reading “Democratization of Automation: The Next Generation of Industrial Robotics”

After Whirlwind 2017, May Mobility Plans to Expand Driverless Fleet

May Mobility, the autonomous vehicle startup based in Ann Arbor, MI, had an action-packed 2017. The company launched in January, completed a stint in the Y Combinator accelerator over the summer, put driverless shuttles on downtown Detroit streets through a small pilot program in October, and raised more than $11 million over the course of … Continue reading “After Whirlwind 2017, May Mobility Plans to Expand Driverless Fleet”

Q&A: Dell Med’s DeSalvo Talks Social Health Startups, Data Ownership

Karen DeSalvo has experience working in the public sector, but she’s hardly what you’d call a government bureaucrat. DeSalvo, who is trained as a physician, served as the National Coordinator for Health Information Technology from 2014 to 2016 under President Barack Obama. During some of the time she headed the ONC, as the office is … Continue reading “Q&A: Dell Med’s DeSalvo Talks Social Health Startups, Data Ownership”