A 2014 report provided a stark frame of reference for the challenge of fighting Alzheimer’s disease, showing that 99.6 percent of all drugs in the field had failed in one way or another. Led by Jeffrey Cummings, director of the Cleveland Clinic’s Lou Ruvo Center for Brain Health, the same authors recently published a new … Continue reading “Alzheimer’s Drug Pipeline Analysis: Have We Hit Peak Amyloid?”
Category: Detroit
Mighty AI Opens Detroit Office to Pursue Auto Industry Customers
Mighty AI, a Seattle-based startup offering “training data as a service” for artificial intelligence applications, has opened a new office in Detroit. According to founder and CEO Matt Bencke, the company chose the location inside the Techstars Mobility headquarters to explore autonomous vehicle development prospects in Southeast Michigan. “We’ve been getting more automotive customers, and … Continue reading “Mighty AI Opens Detroit Office to Pursue Auto Industry Customers”
Open Letter to Travis Kalanick
For starters, this is NOT a Travis-bashing letter or an Uber-bashing one either, which would be way too easy. Besides, I already did the latter in my Nothing Super About Uber piece over two-and-a-half years ago when I questioned Uber’s then over-hyped valuation. Given current events, I’m pretty sure the next funding round will be … Continue reading “Open Letter to Travis Kalanick”
Facebook Rule Change Inspires New Path for Video Ad Startup Waymark
The last time we checked in with serial entrepreneur Nathan Labenz, it was 2014 and he had just won the Detroit edition of Steve Case’s Rise of the Rest pitch competition. The digital advertising venture he was working on then, which was called SocialProof, has changed course. Now called Waymark, Labenz’s 22-person company has relaunched … Continue reading “Facebook Rule Change Inspires New Path for Video Ad Startup Waymark”
U-M Steps Up Pace, Breadth of Detroit Research Collaborations
At the end of the school year this spring, the University of Michigan held an event in Detroit to celebrate the various learning and research initiatives it has underway in the city. Called “um3detroit,” the event’s name was meant in part to highlight the university’s Third Century program, which invested $25 million to encourage faculty … Continue reading “U-M Steps Up Pace, Breadth of Detroit Research Collaborations”
Bio Roundup: Trumpcare Is Mean, SCOTUS Says Go, Merck’s Myeloma No
What exactly does the American Health Care Act, the Republican proposal to replace Obamacare, currently look like? Few people know, because the Senate version is being negotiated behind closed doors in Washington D.C. without any public hearings. We do know President Trump now thinks the version of the AHCA that squeaked through the House is … Continue reading “Bio Roundup: Trumpcare Is Mean, SCOTUS Says Go, Merck’s Myeloma No”
Foxconn Mulls Building Plant in WI That Could Employ Thousands
Foxconn, the world’s biggest contract electronics manufacturer, is considering building a plant in Wisconsin, the Associated Press reported Wednesday. Taiwan-based Foxconn is perhaps best known for its factories in Shenzhen, China, where it assembles iPhones and other personal computing devices sold by Apple (NASDAQ: [[ticker:AAPL]]). Other customers of Foxconn include BlackBerry, Dell, Nintendo, and Sony … Continue reading “Foxconn Mulls Building Plant in WI That Could Employ Thousands”
Patient Network Group Says Majority of Members Want To Keep Obamacare
A U.S. patient networking group called PatientsLikeMe has dipped its toe in the waters of public opinion, asking its members what they think of the healthcare policy fight. There are many caveats, but the numbers trend in the same direction that other national polls have found—a shift towards more acceptance of the Affordable Care Act, … Continue reading “Patient Network Group Says Majority of Members Want To Keep Obamacare”
Data Collective, Other Top AI VCs, Pour $102M Into Element AI Series A
[Updated 6/14/17, 1:45 pm. See below.] Canada’s Element AI, publicly launched in October, announced today it has raised US$102 million in an outsized Series A financing round seen by experts as a sign that artificial intelligence is ready to solve real-world business problems. The young Montreal-based company, whose staff of AI engineers collaborates with academic … Continue reading “Data Collective, Other Top AI VCs, Pour $102M Into Element AI Series A”
MI Roundup: Court Innovations, A2 Tech Trek, SoccerStub, and More
Here’s a look at recent innovation news from around the state: —Ann Arbor-based Court Innovations, a startup spun out of the University of Michigan’s law school, has closed on a $1.8 million funding round. The round was led by Belle Michigan Fund, with contributions from Northern Michigan Angels, Michigan Angel Fund, U-M’s student-led Social Venture Fund, … Continue reading “MI Roundup: Court Innovations, A2 Tech Trek, SoccerStub, and More”
High-Net-Worth Michiganders: Time to “Get Off the Dime,” Brophy Says
When the Michigan Venture Capital Association (MVCA) unveiled the findings in its 2017 annual report at a public event in April, there was a lot to celebrate: a 48 percent increase in venture-backed startups over the past five years; every dollar invested by a Michigan firm attracting $4.61 in out-of-state capital; and a total of … Continue reading “High-Net-Worth Michiganders: Time to “Get Off the Dime,” Brophy Says”
Getting Women On Boards: Three Ways to Increase the Numbers
The hot topic of getting more qualified women on corporate boards continues unabated. Recent statistics show how companies with women prominently serving in such capacities experience higher-than-average financial performance. A major investment group even declared earlier this year that it would push to get women on the boards of the companies in their portfolio. Yet … Continue reading “Getting Women On Boards: Three Ways to Increase the Numbers”
Bio Roundup: ASCO Digested, Juliet Unveiled, PTC Slated & More
The New York Times Magazine wrote a few weeks ago about the extraordinary metabolic changes in a python after it gulps down a 50,000 calorie meal. The biomedical world was like a postprandial python this week; after extending its maw around the supersized meal of news and data from the American Society for Clinical Oncology … Continue reading “Bio Roundup: ASCO Digested, Juliet Unveiled, PTC Slated & More”
States Seek Slice of $7 Trillion Autonomous Vehicle Industry
As U.S. states and cites vie to capture some of the trillions of dollars of economic activity expected to flow from a shift to autonomous vehicles in the coming decades, Washington on Wednesday joined about two dozen states that have paved the way for testing driverless cars. Washington Gov. Jay Inslee directed relevant state agencies … Continue reading “States Seek Slice of $7 Trillion Autonomous Vehicle Industry”
Freight Farms Lands $7.3M as Agriculture Meets Data & Automation
Investors have planted $7.3 million in Freight Farms to help the Boston-based startup bring its micro-farms to more places around the globe—and potentially even beyond. The investors in the Series B round include return backer Spark Capital, also based in Boston. The news was first reported by the Wall Street Journal on Monday. Freight Farms’ … Continue reading “Freight Farms Lands $7.3M as Agriculture Meets Data & Automation”
ASCO Roundup: Checkpoint Combos, Tumor Profiling, Financial Toxicity
[Note: Ben Fidler coauthored this report.] The American Society of Clinical Oncology conference is wrapping up, and the closely watched medical meeting-slash-hype machine produced its usual array of data. There were a few big business-focused “horse race” stories—one company’s stumble was another company’s gain—but much of the news consisted of mid-trial updates that companies produce … Continue reading “ASCO Roundup: Checkpoint Combos, Tumor Profiling, Financial Toxicity”
Lyft, NuTonomy Team Up on Self-Driving Cars as Alliances Proliferate
As companies rev up their work on self-driving vehicles, they’re increasingly forming alliances with each other to help deliver on the technology’s potential—and fend off competitors. The latest example is a partnership announced Tuesday between Lyft, the San Francisco-based ride-hailing app company, and NuTonomy, a Boston-based developer of software for driverless vehicles. The research and … Continue reading “Lyft, NuTonomy Team Up on Self-Driving Cars as Alliances Proliferate”
Barracuda Networks Plans $2.3 Million Expansion and Hiring Spree
Barracuda Networks, the publicly traded cybersecurity giant, is growing—and has chosen once more to expand in Ann Arbor, MI. Barracuda (NYSE: [[ticker:CUDA]]), which was founded in Ann Arbor in 2003 but moved its headquarters to Silicon Valley in 2007, plans to invest $2.3 million in its downtown Ann Arbor office and add up to 115 … Continue reading “Barracuda Networks Plans $2.3 Million Expansion and Hiring Spree”
Of Catfish & Fickle Lovers: Aste CEO Talks Online Dating’s Downsides
There are millions of fish in the sea, and dating apps have made it easier to quickly find and connect with a lot more of those would-be catches. But the ease of creating an online dating profile—and the lack of oversight by the companies running such services—means that users can, and often do, misrepresent themselves. … Continue reading “Of Catfish & Fickle Lovers: Aste CEO Talks Online Dating’s Downsides”
Precision Steps: Can Loxo Drug Help Broaden Use of Cancer DNA Tests?
When the FDA last week approved Merck’s cancer drug pembrolizuamb (Keytruda) for tumors with a specific genetic signature, regardless of what body part they originated in, it was a watershed moment for oncology and a victory for the concept of precision medicine. But Merck isn’t alone; others are following suit with similar plans, and their … Continue reading “Precision Steps: Can Loxo Drug Help Broaden Use of Cancer DNA Tests?”
SIGINT Wins Midway: Milestones of Innovation 13
In these days of internet disruptions of complex systems like medical care and even elections, our obsession with data security is swelling. We’re all too aware of how signals from myriad sources can help us construct patterns of human behavior and make plans to take advantage of that behavior. Although it may be no comfort … Continue reading “SIGINT Wins Midway: Milestones of Innovation 13”
Bio Roundup: ASCO Combo Frenzy, Maine’s Free DNA Tests, Sema4 & More
Over the next four days, the Second City will be the center of the biomedical world. The American Society of Clinical Oncology’s annual meeting in Chicago brings together thousands of researchers from across the globe to discuss the latest progress in the war against cancer. On tap this year: the crush of immunotherapy drug combinations, … Continue reading “Bio Roundup: ASCO Combo Frenzy, Maine’s Free DNA Tests, Sema4 & More”
Energy Leaders React to Trump’s Withdrawal From Paris Climate Accord
[Updated 6/2/17, 10:10 pm ET. See below.] President Donald Trump today announced the United States would withdraw from complying with what’s known as the Paris climate accord, a landmark international agreement to combat climate change. In December 2015, nearly all the countries in the world—195 of them—agreed to the pact, which aims to reduce emissions of … Continue reading “Energy Leaders React to Trump’s Withdrawal From Paris Climate Accord”
Countering Cybersecurity Turnover: 57 Companies That Do It Best
What does it take to keep highly skilled cybersecurity employees? Salary and benefits are table-stakes. Challenging work, ongoing training, an opportunity to advance without having to become a manager, and a talented peer group all help companies recruit and retain these sought-after “ninjas”—the individuals who can do what artificial intelligence security tools can’t. Research from … Continue reading “Countering Cybersecurity Turnover: 57 Companies That Do It Best”
In Maine, Making Cancer DNA Tests Free—And Asking Tough Questions
Has the era of genetic oncology arrived? Last week, the biomedical world took a notable step in that direction when the FDA said Merck’s drug pembrolizumab (Keytruda), already one of the world’s most successful cancer immunotherapies, could now treat any tumor with a particular genetic fingerprint. It was the first time a drug has been … Continue reading “In Maine, Making Cancer DNA Tests Free—And Asking Tough Questions”
Happy Trails, Ken: Nisbet Retires from Running U-M Tech Transfer
Tuesday marked the last day on the job for Detroit/Ann Arbor Xconomist Ken Nisbet, the University of Michigan’s longtime director of technology transfer—but don’t expect to see him enjoying post-career leisure activities anytime soon. “I’m not going to go fishing five days a week or anything,” Nisbet says with a laugh. “I’m staying in Ann … Continue reading “Happy Trails, Ken: Nisbet Retires from Running U-M Tech Transfer”
Woodcock: New Approvals Show FDA Is Adapting to Precision Medicine
The randomized controlled trial has long been held up as the gold standard for testing new drugs. But the nation’s top drug evaluator, Janet Woodcock, believes they aren’t necessary for all new experimental treatments. Randomized trials are long, expensive to run, and ultimately produce limited answers, she said at a medical conference last week. The … Continue reading “Woodcock: New Approvals Show FDA Is Adapting to Precision Medicine”
On ASCO’s Eve, Experts Fret Over Backlash to Cancer Combo Frenzy
When thousands of cancer researchers from around the world gather in Chicago this weekend for the American Society of Clinical Oncology’s annual meeting, drugs that fight tumors by boosting a patient’s immune system will take center stage, as they have in previous years. But the stage is more crowded, as researchers have begun in earnest … Continue reading “On ASCO’s Eve, Experts Fret Over Backlash to Cancer Combo Frenzy”
Bio Roundup: Skinny Cuts, Genomic Approvals, Unfrozen FDA & More
Team Trump unveiled its 2018 federal spending proposal—the so-called “skinny budget”—with health and science in the crosshairs. The NIH is looking at a 22 percent cut and the FDA 31 percent, although the administration wants to backfill the FDA loss with a huge boost in user fees, which drug and device companies pay to have … Continue reading “Bio Roundup: Skinny Cuts, Genomic Approvals, Unfrozen FDA & More”
Uber, Lyft Return to Austin With Tech Edge, But Upstarts Grew Roots
Austin—[Updated 5/25/17, 4:42 p.m. See below.] A year after Uber and Lyft had a bad breakup with Austin, the software companies are returning to town Monday. That’s thanks to Texas state law makers who last week approved legislation that wiped out the city-imposed restrictions that caused Uber and Lyft to leave in the first place. … Continue reading “Uber, Lyft Return to Austin With Tech Edge, But Upstarts Grew Roots”
Amid Budget Concerns, NIH Preps Beta Test for Precision Medicine Plan
An ambitious plan to recruit 1 million U.S. volunteers and amass a treasure trove of their health information will start next week with a “beta test” that health officials hope to eventually expand nationwide. National Institutes of Health director Francis Collins said Wednesday that the Precision Medicine Initiative will begin in Pittsburgh, where the agency … Continue reading “Amid Budget Concerns, NIH Preps Beta Test for Precision Medicine Plan”
Analysis: Are Today’s Automobile Companies More Like Nokia or Apple?
As the CEO shake-up at Ford was unfolding this week—Mark Fields was ousted from the top spot in favor of Jim Hackett, who had been leading the automaker’s self-driving car and mobility efforts—Silicon Valley investor Marc Andreessen issued a sick burn: “Today’s car makers are like Nokia—right before it was crushed by Apple.” Ouch. Andreessen … Continue reading “Analysis: Are Today’s Automobile Companies More Like Nokia or Apple?”
Unconventional Partners, Like FDA, Can Drive Adoption of New Tech
We’ve heard it time and again. Drug development is too expensive, takes too long, and many drug candidates that show promise in preclinical trials end up failing because testing methods don’t predict how they will work in humans. Recently, new technologies have emerged that offer disruptive potential for steering the development of drugs in more … Continue reading “Unconventional Partners, Like FDA, Can Drive Adoption of New Tech”
Gottlieb Says FDA’s “Regulatory Tools” Can Help Fight Opioid Abuse
The FDA considers how safe and effective a new drug is before approving it. But for addictive opioid painkillers, which have triggered a massive public health crisis, should the agency also weigh the potential for the medication to be abused? That’s one of the questions that new FDA Commissioner Scott Gottlieb is posing as he … Continue reading “Gottlieb Says FDA’s “Regulatory Tools” Can Help Fight Opioid Abuse”
FDA Landmark Nod: Cancer Drug To Match Tumor Genes, Not Tissue Type
For many years, doctors and researchers have known that cancers in different parts of the body can share genetic abnormalities. For the first time, the FDA has approved a drug based on those abnormalities and not on the organ in which the cancer originated. It’s a moment that a lot of people in the cancer … Continue reading “FDA Landmark Nod: Cancer Drug To Match Tumor Genes, Not Tissue Type”
Interactions Buys Digital Roots to Bolster Social Media Offerings
Interactions, a Franklin, MA-based company using artificial intelligence technologies to power virtual assistants for enterprise customers, today announced it has acquired Digital Roots, a metro Detroit startup focused on AI-based customer engagement on social media. The specific terms of the deal were not disclosed. Digital Roots is headquartered in Northville, MI, in a building that … Continue reading “Interactions Buys Digital Roots to Bolster Social Media Offerings”
Trump’s Cybersecurity Czar Talks WannaCry, Industry Partnerships
The Trump administration’s plan for strengthening the nation’s cyber defenses is starting to come into focus. Rob Joyce, a special assistant to the president and the White House’s cybersecurity coordinator, spoke in Boston Monday at an event promoting the launch of CyberMA, a Massachusetts affiliate of the national CyberUSA initiative. CyberMA is a MassTLC-led group … Continue reading “Trump’s Cybersecurity Czar Talks WannaCry, Industry Partnerships”
Envision the Future: Request Your Invite to Our Napa Summit June 8-9
We are getting down to the wire—just two and a half weeks until Xconomy’s most unique, up close and personal event of the year: our sixth annual Napa Summit: The Xconomy Retreat on Technology, Jobs, and Growth. We have only about 20 spots left open, and a number of those will likely go fast. So … Continue reading “Envision the Future: Request Your Invite to Our Napa Summit June 8-9”
What’s Next for American Workers as Trade, Automation Roil Manufacturing?
When Donald Trump heralded Ford’s announcement earlier this year that it would invest $1.2 billion in its Michigan plants, it was seen by some as the fulfillment of campaign promises to “bring jobs back” and put America first. Last week, the other shoe dropped with reports that Ford will cut 10 percent of its global … Continue reading “What’s Next for American Workers as Trade, Automation Roil Manufacturing?”
Bio Roundup: Termeer Tribute, ASCO Peeks, Califf’s New Gigs & More
Exhausted by the nonstop drama in Washington, DC? Immerse yourself instead in this week’s biotech headlines. Let’s start with a tribute to a life sciences icon, then we’ll head around the Xconomy network with early news from the nation’s big yearly cancer meeting. There was also momentum onthe IPO front and new gigs for high-profile … Continue reading “Bio Roundup: Termeer Tribute, ASCO Peeks, Califf’s New Gigs & More”
The Reconfigurable Future of Healthcare
Data plays a more central role in healthcare than ever before. It won’t be long before every person’s genome is sequenced at birth, with follow-up sequencing done at regular intervals throughout life. Each genomic check-up would produce roughly 180 gigabytes of data that will need to be processed, analyzed, and stored. The promise of using … Continue reading “The Reconfigurable Future of Healthcare”
Aira Raises $12M to Expand Services for Blind and Visually Impaired
After beta testing technology that provides remote assistant services for the blind, San Diego-based Aira has raised $12 million in a Series B round that it says will enable the company to expand its service to thousands of visually impaired users this year. Aira takes advantage of the gig economy by connecting online independent contractors … Continue reading “Aira Raises $12M to Expand Services for Blind and Visually Impaired”
Distil’s Are You a Human Acquisition Is Big Win for Tech Community
Detroit’s nascent tech community got a significant validation today as Silicon Valley cybersecurity company Distil Networks announced it has acquired homegrown, Dan Gilbert-backed startup Are You a Human. The specific terms and the monetary value of the deal were not disclosed, but Distil says it plans to open a new office in Detroit as a … Continue reading “Distil’s Are You a Human Acquisition Is Big Win for Tech Community”
With Ransomware Concerns Fresh, Cybersecurity Firms Tap VC Funding
While a wave of cyber attacks like the coordinated “WannaCry” virus may be bad for business, it’s no secret that it means good business promotion for the cybersecurity industry. As cybersecurity stocks rose across the board Monday after a weekend full of hacks, a variety of startups rode the wave of interest in Web security … Continue reading “With Ransomware Concerns Fresh, Cybersecurity Firms Tap VC Funding”
Figuring It Out: Addressing Practices That Impact Women in Technology
The Women’s March, New Tech Northwest’s annual “Women in Tech” event, and International Women’s Day are just a few of the recent events prompting important conversations around inequality in the tech industry. These discussions, while breakthroughs in many regards, are still just the beginning of real change. I’ve gathered a number of ideas for what … Continue reading “Figuring It Out: Addressing Practices That Impact Women in Technology”
Proofpoint Uncovers Second Cyberattack That Uses Stolen NSA Tools
Cybersecurity company Proofpoint, which helped slow the sweeping global ransomware attack WannaCry after it emerged Friday, has now discovered a much more insidious, profitable, and potentially widespread cyberattack called Adylkuzz. Adylkuzz doesn’t demand, as WannaCry does, that victims pay a ransom to retrieve their data. Adylkuzz makes no announcement when it quietly invades target computers. … Continue reading “Proofpoint Uncovers Second Cyberattack That Uses Stolen NSA Tools”
Automotive Infosec Startup Karamba Snags $12M for Hack-Blocking Tech
There are conflicting opinions, even within Xconomy’s newsroom, about whether autonomous vehicles will be the game-changing technology the automotive industry hopes for. Yet, connected-car cybersecurity startup Karamba is moving full steam ahead—and its investors just doubled down with a new round of funding. Today, Karamba, which is based in Ann Arbor, MI, and Hod Hasharon, … Continue reading “Automotive Infosec Startup Karamba Snags $12M for Hack-Blocking Tech”
5 Takeaways From the WannaCry Ransomware Attack
This may be the incident that finally pushes ransomware into the mainstream—and also forces both organizations and malicious hackers to adapt their approaches when it comes to this type of attack. The “WannaCry” virus, which first hit companies and healthcare services on Friday, has infected some 300,000 computer systems in 150-odd countries. By exploiting a … Continue reading “5 Takeaways From the WannaCry Ransomware Attack”
SRI’s Michigan Office Will Help Develop New VEE Vaccine
SRI International, the Menlo Park, CA-based nonprofit contract research giant, is counting on its Michigan office to play a crucial role in the development of a new vaccine. SRI has been awarded two contracts worth $4.7 million by the U.S. Army’s Joint Vaccine Acquisition Program to test and manufacture a potential new vaccine against Venezuelan equine … Continue reading “SRI’s Michigan Office Will Help Develop New VEE Vaccine”
Amid Comey Furor, Companies React to Trump’s Cybersecurity Order
On a day dominated by news about President Trump’s firing of FBI director James Comey, and its impact on the ongoing investigation of Russian hacking of the 2016 presidential election, two significant developments for the cybersecurity industry also emerged Thursday. First, President Trump signed an executive order laying out plans to shore up data security … Continue reading “Amid Comey Furor, Companies React to Trump’s Cybersecurity Order”