Call it a week of second chances. Multiple biotechs breathed new life into drugs sorely in need of it. Sage Therapeutics proved a drug that had failed a trial a rare form of epilepsy could be the first ever approved therapy for postpartum depression. Otonomy, reviving a hearing loss drug thought to be on the … Continue reading “Bio Roundup: Barron Joins GSK, Sage Bounces Back, Valeant Dumps Addyi”
Category: Detroit
What Sean Parker Shares with Einstein and the Labradoodle’s Inventor
Sean Parker, Facebook’s first president, just joined a group that’s a favorite topic of history listicles: He’s an innovator who has become abashed by the breakthrough he helped to create. Parker, in an interview with Axios on Wednesday, said Facebook’s founders consciously exploited “a vulnerability in human psychology,” by luring users into an addictive engagement … Continue reading “What Sean Parker Shares with Einstein and the Labradoodle’s Inventor”
Aquam Raises $26M to Expand Tech, Services for Aging Infrastructure
Aquam, a San Diego company with technology for cleaning out and re-lining aging utility pipelines, has raised $26 million in a growth capital round led by NewWorld Capital Group, a New York private equity firm that makes investments in sustainable energy and natural-resources related deals. As municipalities and utilities confront intractable infrastructure problems that range … Continue reading “Aquam Raises $26M to Expand Tech, Services for Aging Infrastructure”
Microsoft’s Strategy for Finding What’s Next in Healthcare A.I.
[Updated 11/10/17, 10:25 a.m. See below.] Microsoft is applying the same model it used to launch its quantum computing and chatbot efforts to innovation in healthcare, signaling the company’s ambition and optimism about the transformative potential of artificial intelligence technologies in this enormous endeavor. Peter Lee is the Microsoft Research executive in charge of the … Continue reading “Microsoft’s Strategy for Finding What’s Next in Healthcare A.I.”
WSU’s New Innovation Hub Aims to Boost Entrepreneurship, Engagement
David Tarver is many things: a former telecom engineer with Bell Labs who left to start his own born-in-the-basement company that later sold for $30 million, author of the book “Proving Ground,” founder of the Urban Entrepreneurship Initiative, a University of Michigan professor, and all-around booster and mentor for Southeast Michigan’s startup ecosystem. In July, he took … Continue reading “WSU’s New Innovation Hub Aims to Boost Entrepreneurship, Engagement”
Waymo, Global Firms Start Their Engines For Self-Driving Future
In a pile-up of news about self-driving vehicles early this week, Alphabet unit Waymo led the pack by announcing that its autonomous fleet, operating in an area of Phoenix, is now without humans in the driver’s seat. Soon, Waymo will be testing a business model for its driverless cars, while it continues to test its … Continue reading “Waymo, Global Firms Start Their Engines For Self-Driving Future”
Progenity Raises $125M to Expand Diagnostics for Women’s Health
Progenity, a San Diego molecular diagnostics company focused on women’s health, reproductive medicine, and oncology, has raised $125 million in a Series B financing led by New York’s Athyrium Capital Management, an earlier investor. The financing marks one of the biggest life sciences deal involving a San Diego company this year. Proceeds from the financing, … Continue reading “Progenity Raises $125M to Expand Diagnostics for Women’s Health”
Wayne State University Innovation Hub Launch Celebration
Join Wayne State University students, faculty, and staff as they invite the community to celebrate the school’s new innovation hub, which is designed to coordinate and enhance its programs for entrepreneurship education, technology commercialization, community partnerships, and overall culture of innovation. The event is free and open to the public. For details and registration, click … Continue reading “Wayne State University Innovation Hub Launch Celebration”
Rightpoint Buys Mobile Firm Raizlabs to Form “Agency of the Future”
Raizlabs, one of the Boston area’s best-known mobile app development shops, has been acquired by Rightpoint, a Chicago-based consulting firm. The purchase price wasn’t disclosed. With the addition of Raizlabs, the combined companies employ 400 people across nine U.S. offices. The two firms’ Boston offices will consolidate, while Raizlabs’ Oakland, CA, office adds a new … Continue reading “Rightpoint Buys Mobile Firm Raizlabs to Form “Agency of the Future””
Lunar Aims to Offer Budget Phone Service, Premium User Experience
Most of us can’t imagine going back to a time without smartphones. Having an Internet-enabled phone on one’s person makes life easier, and many of us would feel a bit naked without one. Paying for them, however, is another matter. The prices keep going up as the phones get more sophisticated, and with myriad fees … Continue reading “Lunar Aims to Offer Budget Phone Service, Premium User Experience”
Is Your Company Independent or Co-Dependent?
Steve Jobs was once famously quoted stating, “the secret of my success is that we have gone to exceptional lengths to hire the best people in the world.” Employees are a critical part of any company’s backbone, no matter the size or industry of the business. They are the driving force that executes the company … Continue reading “Is Your Company Independent or Co-Dependent?”
With $11M in New Funding, Mcity Looks Ahead to 2018 and Beyond
Mcity, the autonomous vehicle research center on the University of Michigan campus, announced this week that it has raised $11 million in new funding from 11 industry partners. (See list below.) These partners help Mcity identify opportunities as well as the challenges in bringing them to fruition, and weigh in on the direction of the … Continue reading “With $11M in New Funding, Mcity Looks Ahead to 2018 and Beyond”
Biotech Roundup: Opioid News, ASH Preview, Boston Bio IPOs & More
The rising death toll from opioids has prompted policymakers to try various ways to take on the problem. President Trump’s opioid commission released its final report this week, calling for expansion of drug courts, better physician training, and penalties for insurers that don’t cover treatment. But the commission did not say how much its recommendations … Continue reading “Biotech Roundup: Opioid News, ASH Preview, Boston Bio IPOs & More”
Congress Urges Tech Firms to Control Content—But With Qualms
At Congressional hearings this week on Russia’s use of social media to interfere with the 2016 U.S. election, lawmakers pressed Facebook, Twitter, and Google to take exhaustive measures to stop the same thing from happening again. Lawmakers urged the companies to scour their networks to root out foreign advertisers, trolls, and bots; to eliminate messages … Continue reading “Congress Urges Tech Firms to Control Content—But With Qualms”
Optimus Ride Drives Off With $18M for Autonomous Vehicle Tech
[Updated 11/2/17, 10:01 am, with CEO comments.] Boston’s self-driving vehicle startups are on a roll. This morning, Optimus Ride said that investors have pumped $18 million into the company in a new funding round. The news follows the announcement last month that global auto parts supplier Delphi (NYSE: [[ticker:DLPH]]) agreed to purchase NuTonomy for up … Continue reading “Optimus Ride Drives Off With $18M for Autonomous Vehicle Tech”
Few Opioid Alternatives In Sight as Crisis Gains Political Attention
As opioid-related deaths skyrocket across the U.S., momentum to combat the epidemic has been mounting in Washington. But the crisis has also highlighted a glaring problem that no amount of politics or policymaking will solve soon: The lack of non-addictive pain medicines. “What is disappointing over the last half-century is that we haven’t really created … Continue reading “Few Opioid Alternatives In Sight as Crisis Gains Political Attention”
ASH Sneak Peeks: Novartis, Juno Update CAR-T Lymphoma Competition
[Corrected, 11/1/17, 5:20 p.m. ET. See below.] The annual American Society of Hematology meeting is next month. But previews of the big data presentations are out today, yielding more insight into what promises to be the first major competition in CAR-T cell therapy: Treatments for people with non-Hodgkin lymphoma (NHL) who have run out of … Continue reading “ASH Sneak Peeks: Novartis, Juno Update CAR-T Lymphoma Competition”
As Facebook Fights Fake News, LeCun Sees Bigger Role for A.I.
As top lawyers from Facebook, Google, and Twitter testify on Capitol Hill this week about Russians using their platforms to interfere in the 2016 U.S. presidential election, it’s becoming clearer that the fight against the spread of fake news won’t be won by humans alone. That’s according to Yann LeCun, a machine learning expert and … Continue reading “As Facebook Fights Fake News, LeCun Sees Bigger Role for A.I.”
Ash & Erie Make a Splash on Shark Tank, Score Deal with Mark Cuban
As Venture for America prepares to host a demo day event in Detroit later this month, two entrepreneurs who met as part of the VFA program recently made a splash on Shark Tank, the ABC reality show that features young companies pitching celebrated investors for growth capital. We caught up with Steven Mazur, co-founder of … Continue reading “Ash & Erie Make a Splash on Shark Tank, Score Deal with Mark Cuban”
New Survey Highlights “Lethargic Pace” of Healthcare Gender Equity
To close the healthcare and life sciences gender gap, there have been programs to move women into the boardroom. People are building mentoring networks. And there have been public pledges to do better. But women in the industry aren’t optimistic about big changes coming soon, according to a new report and survey from digital healthcare … Continue reading “New Survey Highlights “Lethargic Pace” of Healthcare Gender Equity”
Clinc’s A.I. Goes Global in Deal with Turkey’s Largest Private Bank
It has been a busy year for Clinc, the fintech startup based in Ann Arbor, MI. The company, which has developed a conversational artificial intelligence platform for financial institutions called Finie, has raised more than $6 million in a Series A round; embarked on a successful pilot project with USAA, the bank serving members of … Continue reading “Clinc’s A.I. Goes Global in Deal with Turkey’s Largest Private Bank”
As Russians Hacked U.S. Election, Did Big Tech Firms Break Any Laws?
News is constantly streaming out these days about the role of Facebook, Twitter, and Google in the 2016 presidential election; most disturbing to the public is the apparent use of social media, search, and video channels by Russian operatives seeking to influence U.S. voters. Critical lawmakers have blasted the big tech companies for failing to … Continue reading “As Russians Hacked U.S. Election, Did Big Tech Firms Break Any Laws?”
South Bend Code School Helps Get Underserved Kids on Career Path
A few years ago, Alexandra Liggins was a student at Notre Dame studying English and taking pre-med courses. When she began tutoring local high school students in South Bend, IN, she was disheartened by the number of kids who believed that if they weren’t on the path to college, they didn’t have many future job … Continue reading “South Bend Code School Helps Get Underserved Kids on Career Path”
San Diego Positions Itself as Autonomous Technology Proving Ground
UC San Diego is becoming a test bed for self-driving vehicle technology. With a campus that encompasses more than 3.3 square miles and a daytime population of roughly 65,000, “It’s a small city,” said Henrik Christensen, who is leading the new project as director of the university’s Institute for Contextual Robotics. Christensen, who announced the … Continue reading “San Diego Positions Itself as Autonomous Technology Proving Ground”
Bio Roundup: CBO’s Praise, Celgene’s Shock, Trump’s Opioid Plan & More
The White House and the FDA turned the spotlight on the nation’s opioid crisis. Blockbuster drugs from Alexion and Tesaro gained expanded approvals, but bad earnings news from Celgene and Biogen brought stocks down. Academics in the U.S. and China made progress with the gene editing technology CRISPR. And as the week’s biggest biotech deal … Continue reading “Bio Roundup: CBO’s Praise, Celgene’s Shock, Trump’s Opioid Plan & More”
Roundup: TechTown Awards, MCWT Competition, Detroit Initiatives, More
It has been a busy fall in Michigan, full of local tech and innovation news. Here’s a look at some of the recent announcements: —Earlier this month, TechTown Detroit hosted the Toast of the Town event to honor winners of its Salute awards, which recognize the best and brightest in the local startup ecosystem. The … Continue reading “Roundup: TechTown Awards, MCWT Competition, Detroit Initiatives, More”
Occipital Acquires Paracosm, Plans Collaborative 3D Mapping Projects
Occipital, the spatial computing company based in San Francisco and Boulder, CO, announced this week that it has acquired Paracosm, a Gainesville, FL company developing 3D mapping technology. The terms of the deal were not disclosed, but Paracosm’s entire team of 13 people, which will remain in Florida, has been absorbed by Occipital. Adam Rodnitzky, … Continue reading “Occipital Acquires Paracosm, Plans Collaborative 3D Mapping Projects”
As Drugs Fail, Some Researchers Urge a Return to Alzheimer’s Roots
As the quest to find treatments for Alzheimer’s disease keeps crashing against rocks, a group of researchers in the field want their peers to pay more attention to the part of the brain where Alzheimer’s disease first wreaks havoc. A new paper from the researchers, published this month in the journal Alzheimer’s & Dementia, is … Continue reading “As Drugs Fail, Some Researchers Urge a Return to Alzheimer’s Roots”
Cord Cutting: How to Get High-Speed Internet Without Cable, 2017 Edition
Hey folks. If you’re thinking about breaking away from the cable monopolies and getting your data, music, and video in other ways, congratulations, I’m with you. I cut the cord back in 2009, and now millions of people are doing the same every year. With the growing interest in cord-cutting, you’d think it would be … Continue reading “Cord Cutting: How to Get High-Speed Internet Without Cable, 2017 Edition”
Delphi to Buy NuTonomy for $400M+ as Driverless Car Tie-ups Continue
Another big move today in the race to develop self-driving cars: Delphi Automotive has inked a deal to acquire NuTonomy, an autonomous vehicle software startup, for up to $450 million. The U.K.-based automotive supplier (NYSE: [[ticker:DLPH]]) will pay $400 million up front to acquire Boston-based NuTonomy, plus earn-outs of about $50 million, according to a … Continue reading “Delphi to Buy NuTonomy for $400M+ as Driverless Car Tie-ups Continue”
Houston Exponential Aims to Bring Venture Investment, Boost Startups
Houston—Houston leaders will officially launch a venture capital fund of funds later this morning, aimed at jumpstarting the city’s innovation ecosystem and elevating Houston into the top tier of startup hubs. The HX Venture Fund, which will be in the $40 million to $50 million range, will be made up of corporate investments which, in … Continue reading “Houston Exponential Aims to Bring Venture Investment, Boost Startups”
Venture for America Demo Day
Network with participants and administrators of the VFA program at this demo day event. Companies who participated in the 2017 VFA Accelerator will also give five minute pitches explaining what they’re working on. For more information, click here.
Bio Roundup: Kite’s CAR-T Approved, Obamacare Fix & Lilly mRNA Deal
Kite Pharma wasn’t expecting a regulatory decision for its non-Hodgkin lymphoma treatment until November, but this week, the company got the FDA’s O.K. The approval of axicabtagene ciloleucel (Yescarta) marks the second time in the two months that the FDA has given the nod to a CAR-T therapy, a treatment made from a patient’s own … Continue reading “Bio Roundup: Kite’s CAR-T Approved, Obamacare Fix & Lilly mRNA Deal”
Techstars Mobility Event: Detroit’s Momentum Clear as Startups Shine
Eleven startups that spent the summer working in the Techstars Mobility accelerator program took to the stage to pitch their technologies to a packed house of investors, entrepreneurs, media, and other stakeholders at the Detroit Film Theatre Wednesday. According to Techstars, this demo day event is the world’s largest of its kind. Each company was introduced by … Continue reading “Techstars Mobility Event: Detroit’s Momentum Clear as Startups Shine”
Level Playing Field? How Big Company Dominance May Hinder Innovation
The conventional wisdom about Silicon Valley is that it’s a playground for the underdogs, a fertile ground for young entrepreneurs building startups that are going to “change the world.” Instead, the Bay Area—while, yes, still home to thirsty young entrepreneurs—is increasingly the stomping grounds of a few major tech companies that have come to dominate … Continue reading “Level Playing Field? How Big Company Dominance May Hinder Innovation”
With Pitches for HQ2 Made, Cities Wait on Amazon’s 2018 Decision
From Portland to Pittsburgh, it’s likely that every city in the U.S. with more than 1 million people has made its case to Amazon to locate the company’s second headquarters there. At least, hopefully they have already, because today—if you haven’t heard—was the deadline to apply. Amazon sent North America into a frenzy after announcing … Continue reading “With Pitches for HQ2 Made, Cities Wait on Amazon’s 2018 Decision”
Lab Focused on Human-Centered Design Moves to Put San Diego on Map
For Michèle Morris, the big question hanging over organizers as they laid the groundwork last year for the first Design Forward Summit was whether the innovation community in San Diego understood the value of design. “We didn’t know who was going to show up—and 600 people showed up,” said Morris, who is associate director of … Continue reading “Lab Focused on Human-Centered Design Moves to Put San Diego on Map”
At Lambeau Field, Case & Vance Plot a Path for Emerging Startup Hubs
Green Bay, WI, is among the smallest of the 30-plus cities Steve Case and other leaders of his venture capital firm Revolution have visited since 2014 as part of its national “Rise of the Rest” tour, but Case nonetheless said he sees some of the seeds that could help sprout a cluster of high-tech businesses … Continue reading “At Lambeau Field, Case & Vance Plot a Path for Emerging Startup Hubs”
Kite Nabs First Adult CAR-T Approval With Notable Uptick Of Cures
For the second time in two months, remarkable recoveries from desperate cases of cancer have led to early approval of a cutting-edge therapy called CAR-T, which is made from a patient’s own genetically engineered cells. More than a month before the decision was due, the FDA has given the nod to axicabtagene ciloleucel, now branded … Continue reading “Kite Nabs First Adult CAR-T Approval With Notable Uptick Of Cures”
Ann Arbor Unicorn: After $70M Series D, Duo Security Valued at $1.1B
[Updated at 1:05 p.m. on 10/17/2017 to add comments from Duo CEO Dug Song; see below.] Ann Arbor, MI-based cybersecurity startup Duo Security today announced that it has closed on a Series D financing round valued at $70 million, bringing the company’s total valuation to $1.17 billion just seven years after its inception. According to … Continue reading “Ann Arbor Unicorn: After $70M Series D, Duo Security Valued at $1.1B”
ACM Partners with Academic Consortium to Train Mobility Workforce
As autonomous vehicles get closer to reality, several pressing issues loom on the workforce front. The development of self-driving cars requires specialized skills that are currently in shortage across the country. It’s also expected that certain professions will be disrupted by autonomous vehicles, and, as a result, those workers will soon need a new career … Continue reading “ACM Partners with Academic Consortium to Train Mobility Workforce”
After Trump Sounds Off, Senate Has Adult Conversation on Drug Prices
In advance of an anticipated Senate hearing on drug prices, President Donald Trump once again denounced drug companies as “getting away with murder.” The first time he did so, using the same phrase just before his inauguration, the markets shuddered. He also said at the time that “we’re going to start bidding,” a reference to … Continue reading “After Trump Sounds Off, Senate Has Adult Conversation on Drug Prices”
After Shutdown, Bridj Restarts Engine in Australia Under New Owner
[Updated 10/18/17, 2:01 pm. See below.] Bridj, the Boston-based, app-enabled transit service that shut down in the spring, is apparently making a comeback—in Australia. In a Facebook post on Friday, Bridj said its business was acquired by Australian public transportation operator Transit Systems, which plans to implement Bridj’s service in Sydney, Australia, later this year. … Continue reading “After Shutdown, Bridj Restarts Engine in Australia Under New Owner”
2017 Women Entrepreneurs Conference
In honor of Women’s Entrepreneurship Day, this event hosted by the Michigan Association for Female Entrepreneurs gives attendees the opportunity to connect, network, and celebrate the impact of female founders on Michigan’s economy. For more information, click here.
Association of University Technology Managers Partnering Forum
Hosted by MForesight, the Association of University Technology Managers forum will allow industry and academic technology managers to network, partner, and discover and license advanced manufacturing technologies. For details, click here.
Vinod Khosla on A.I., Health, and the Future of Working (or Not)
Entrepreneur-turned-venture capitalist Vinod Khosla made big headlines almost six years ago when he wrote a blog post called “Do We Need Doctors or Algorithms?” In it, he said medicine needed to be reinvented and he predicted a new era in which artificial intelligence might replace most of the functions that doctors do now—and do it … Continue reading “Vinod Khosla on A.I., Health, and the Future of Working (or Not)”
Phrixus to Launch Clinical Trials for Duchenne Drug in Early 2018
After showing some early promise in treating European patients, Ann Arbor, MI-based Phrixus Pharmaceuticals, a startup developing drugs to treat cardiac and respiratory problems in young males with Duchenne muscular dystrophy, is preparing to launch U.S. clinical trials early next year. During the first quarter of 2018, Phrixus will dose the first patient with its … Continue reading “Phrixus to Launch Clinical Trials for Duchenne Drug in Early 2018”
Bio Roundup: Light For Spark, California Drug Law, IPO Queue & More
In a year of tragedies across the U.S., natural or otherwise, it seemed this week was California’s turn. Fueled by high winds, low humidity, and ample dry vegetation, fires swept through several towns across the state and, as of this writing, have barely been contained. With our minds on friends and loved ones affected by … Continue reading “Bio Roundup: Light For Spark, California Drug Law, IPO Queue & More”
Ikea Backs XL Hybrids in $22M Round as Commercial Fleets Electrify
[Updated 10/12/17, 4:53 pm, with CEO comments.] XL Hybrids, a maker of hybrid electric powertrains for commercial and municipal vehicles, is stepping on the gas pedal after pulling in $22 million in fresh venture capital. Furniture retailer Ikea Group and Constellation Technology Ventures—the venture capital arm of energy company Exelon—were among the investors in XL’s … Continue reading “Ikea Backs XL Hybrids in $22M Round as Commercial Fleets Electrify”
Case’s Advice to Entrepreneurs? Persevere, Support Local Networks
Michigan’s tech startup ecosystem has come a very long way in the past decade—a recent report in Engadget took a fair, comprehensive look—but still lacks a few key ingredients, like a culture that embraces failure and entrepreneurial leaders who aggressively work to create a welcoming, collaborative community. Those were some of the takeaways from yesterday’s … Continue reading “Case’s Advice to Entrepreneurs? Persevere, Support Local Networks”