Category: Detroit

Bio Roundup: Big Apple Mo’, Checkpoint Yes and No, CAR-T Death & More

“New York, New York, it’s a hell of a town. The Bronx is up, but we’re Brooklyn down.” For all you old-school Brooklyn swingers out there, we’ll take a short break from the madness in the nation’s capital and start our roundup in the greatest city in the world. You might disagree if you’ve got … Continue reading “Bio Roundup: Big Apple Mo’, Checkpoint Yes and No, CAR-T Death & More”

Shoulder Innovations Raises $1.5M to Grow its Patented Implant Tech

Shoulder Innovations, the Holland, MI-based medical device startup, this week announced a $1.5 million Series A round led by the Michigan Angel Fund, with participation from Start Garden, Invest Michigan, Novus Bioventures, Western Michigan University’s Biosciences Research Commercialization Center, and Genesis Innovation Group. The four-person company, which was founded in 2009, has developed a shoulder … Continue reading “Shoulder Innovations Raises $1.5M to Grow its Patented Implant Tech”

Roundup: LLamasoft, TechHire Bootcamp, Application Deadlines Galore

Here’s a look at innovation news you may have missed from around Michigan: —LLamasoft, the Ann Arbor-based developer of supply chain software, announced today that TPG Capital has invested in the company. The specifics of the deal were not disclosed. LLamasoft marks TPG’s second foray into the supply-chain technology space, following its 2016 investment in Transporeon, a … Continue reading “Roundup: LLamasoft, TechHire Bootcamp, Application Deadlines Galore”

Senate Vote Confirms Scott Gottlieb for FDA Commissioner

Scott Gottlieb will be the new FDA commissioner. The U.S. Senate voted 57 to 42 on Tuesday to confirm Gottlieb, a physician and venture capitalist, to lead the regulatory agency. He succeeds former FDA commissioner Robert Califf, who stepped down in January after President Donald Trump took office. Gottlieb is already familiar with the agency … Continue reading “Senate Vote Confirms Scott Gottlieb for FDA Commissioner”

New State Fund Helps Commercialize Early Tech from MI Universities

University technology transfer programs in Michigan now have a new pot of money to support their efforts, thanks to a fund supported by the Michigan Economic Development Corporation. The University Early Stage Proof of Concept Fund, also known as the Advance grant program, will help move research projects and technologies developed at Michigan universities from … Continue reading “New State Fund Helps Commercialize Early Tech from MI Universities”

Bio Roundup: NIH Precision Boost, AHCA to Senate, New Drugs & More

Two dramatic healthcare stories played out this week. First, to the jubilation of the nation’s science community, Congress proposed to boost National Institutes of Health funding, not slash it as the Trump administration had outlined. Then the patchwork revival of the GOP’s healthcare plan, despite being panned by nearly every major medical group in the … Continue reading “Bio Roundup: NIH Precision Boost, AHCA to Senate, New Drugs & More”

VC Confidence Holds Steady in Quarterly Survey, But Reasons Change

In a survey of 29 Silicon Valley venture capitalists in December, the VCs mulled whether President-elect Donald Trump would buoy up their investment prospects with lower corporate taxes and government regulations, or worsen conditions by heightening global political instability and raising the risk of a major military conflict or economic downturn. That Q4 2016 edition … Continue reading “VC Confidence Holds Steady in Quarterly Survey, But Reasons Change”

If Budget Holds, NIH Precision Study Could Be Flush As Volunteers Arrive

Until this week, many U.S. government science agencies and programs seemed destined for a big haircut, plus the loss of a limb or two. That included the Precision Medicine Initiative, an ambitious long-term study with the goal of recruiting 1 million Americans to volunteer health data. But in staving off a government shutdown, Congress pushed … Continue reading “If Budget Holds, NIH Precision Study Could Be Flush As Volunteers Arrive”

Hacking Health: What Does It Take to Build a Med Tech Ecosystem?

Regional healthcare organizations, IT experts, clinicians, and entrepreneurs will spend the weekend at TechTown Detroit for the third annual Hacking Health event, which is designed to break open silos and inspire new collaborations between med tech innovators on both sides of the Detroit River. Attendees of the weekend hackathon, hosted by TechTown and Ontario’s WEtech … Continue reading “Hacking Health: What Does It Take to Build a Med Tech Ecosystem?”

Analysis: Trump’s First 100 Days Through the Tech Industry Lens

Donald Trump spent his 100th day in office in ways that would appeal to his working class base—holding a campaign-style rally in Harrisburg, PA, where he confirmed his campaign commitment to controlling immigration. Trump also signed an executive order to create a White House office of trade and manufacturing policy, which aims to protect American … Continue reading “Analysis: Trump’s First 100 Days Through the Tech Industry Lens”

Bridj Runs Out of Gas After Deal With Car Company Falls Through

Bridj’s vision of transforming urban transportation is no more, after the Boston-based startup announced over the weekend that it’s shutting down. Bridj—which operated a transit service that used a private fleet of shuttle vans coordinated by mobile app—decided to wind down operations after a deal with an unnamed “major car company” fell through, CEO Matt … Continue reading “Bridj Runs Out of Gas After Deal With Car Company Falls Through”

The State of Cybersecurity Insurance Today

Cyber incidents are considered the No. 1 emerging risk for enterprises long-term. No surprise, then, that cybersecurity insurance policy premiums are approaching $2.75 billion a year. Some experts believe this figure will grow to roughly $20 billion by 2025. For scores of insurance companies cashing in on the booming corporate cybersecurity insurance market, it’s a … Continue reading “The State of Cybersecurity Insurance Today”

Renaissance VC Fund Backs New-to-Michigan Next Coast Ventures

Ann Arbor, MI-based Renaissance Venture Capital Fund announced this week that it has invested in Austin, TX-based Next Coast Ventures. The fund-of-funds, which puts money into out-of-state VC funds to help entice them to invest in Michigan startups, did not disclose the amount of the investment. Chris Rizik, CEO of Renaissance and Detroit/Ann Arbor Xconomist, … Continue reading “Renaissance VC Fund Backs New-to-Michigan Next Coast Ventures”

Bio Roundup: Trumpcare Flails, Spinraza Sales, Batten OK & More

To judge the first 100 days of a new administration is, as many pundits have pointed out, an odd vestige of history, more convenient than significant. Which is why we’ll start this week’s roundup with our 99-day evaluation of the Trump administration—at least when it comes to healthcare and the life sciences. In healthcare, nothing … Continue reading “Bio Roundup: Trumpcare Flails, Spinraza Sales, Batten OK & More”

Gottlieb’s FDA Nomination Gets Committee Nod, Advances to Senate

Scott Gottlieb’s nomination to the top post of the FDA is on its way to the full U.S. Senate. The Senate Health, Education, Labor & Pensions Committee voted 14-9 on Thursday to approve Gottlieb’s nomination to become FDA commissioner. All of the Republicans on the committee voted for Gottlieb, along with two Democrats, Sen. Sheldon … Continue reading “Gottlieb’s FDA Nomination Gets Committee Nod, Advances to Senate”

Michigan State’s Conquer Accelerator Announces 2017 Participants

Earlier this month, the Michigan State University-backed Conquer accelerator program announced the five startups that will spend the summer pushing their products and technologies to market. Starting in June, Conquer participants will begin the 10-week incubation program. What makes Conquer different from many other university accelerators is its accessibility. Even though the program is administered … Continue reading “Michigan State’s Conquer Accelerator Announces 2017 Participants”

HistoSonics Aims To Move Forward After Raising $8.5M, Naming New CEO

Changes are afoot at HistoSonics, the University of Michigan medical device spinout based in Ann Arbor, MI. The company has a new CEO, as well as a new focus on the treatment of solid-tumor cancers. Last month, HistoSonics also closed on a $8.2 million Series B round led by Wisconsin’s Venture Investors, with contributions from … Continue reading “HistoSonics Aims To Move Forward After Raising $8.5M, Naming New CEO”

Bio Roundup: Spinraza Woes, Science March, Baseline Launch & More

Rumblings of a new Obamacare replacement surfaced this week, while scientists and their supporters prepared for Saturday’s—a.k.a. Earth Day’s—nationwide Marches for Science. Our own reporting focused this week on the fallout from high drug prices, with a look at the frustration of families whose children have had trouble gaining access to the first drug ever … Continue reading “Bio Roundup: Spinraza Woes, Science March, Baseline Launch & More”

After 3-Year Partnership, DePuy Acquires TRS Scaffolding Technology

In 2014, Plymouth, MI-based biotech startup Tissue Regeneration Systems (TRS) began collaborating with DePuy Synthes Products, a company under the Johnson & Johnson umbrella making orthopedic products, such as the devices used in joint replacements. This week, DePuy formalized that relationship with the announcement that it has acquired TRS’s FDA-approved, 3D-printed scaffolding technology that enables … Continue reading “After 3-Year Partnership, DePuy Acquires TRS Scaffolding Technology”

Request Your Invitation to Xconomy’s Elite Napa Summit June 8-9

  Nobel Laureate David Baltimore. Microbiome AND supercomputer pioneer Larry Smarr. Intellectual Ventures’ Nathan Myhrvold. Nicole Glaros of Techstars. These are just a few of the visionary speakers who will be headlining Xconomy’s sixth annual Napa Summit. And if you act fast to request your invitation to this special event, you can join them and … Continue reading “Request Your Invitation to Xconomy’s Elite Napa Summit June 8-9”

“Our Son’s Fate”: Parents Fighting for Kids’ Spine Drug Eye New Data

Melissa Marotta pulled no punches to get her three-year-old son C.J., who has the genetic disease spinal muscular atrophy, access to nusinersen (Spinraza), the first approved drug for his condition. For months, she couldn’t schedule a treatment date at Columbia University Medical Center/New York-Presbyterian Morgan Stanley Children’s Hospital, and for much of that time, she … Continue reading ““Our Son’s Fate”: Parents Fighting for Kids’ Spine Drug Eye New Data”

Trump Executive Order Adds Uncertainty to Tech Visa Program

Is the U.S. high-skilled visa program, known as H-1B, an essential contributor to the innovation economy or a way for companies to replace American IT workers with immigrants at lower salaries? It’s a debate as old as the program itself, which began in 1990. The Trump administration on Tuesday joined the fray with a long-anticipated … Continue reading “Trump Executive Order Adds Uncertainty to Tech Visa Program”

Desai Accelerator Demo Day

The University of Michigan’s Desai Accelerator demo day features startups from its most recent cohort pitching investors for capital. Presenting companies include Warmilu, ScoutDay, Foodstand, Circadian Risk, and SAHI Cosmetics. For more information, click here.

The Xconomy Roadmap: Top 15 Innovation Areas to Watch (and Disrupt)

It is a time of great transitions in the technology and business world. Key advances in areas like machine intelligence, agriculture, and healthcare seem poised to transform society—and everyday life. But it can be hard to keep up with the latest news in fields as disparate as cybersecurity, food tech, and cancer therapeutics—let alone understand … Continue reading “The Xconomy Roadmap: Top 15 Innovation Areas to Watch (and Disrupt)”

Want to Communicate Your Science? First, Step Back

Think for a moment about the words and phrases that life science researchers and executives use on a daily basis. I’m talking about the seemingly simple phrases like “investigational drug,” “novel target,” “immunotherapy,” “clinical trial,” “in vitro,” and “therapeutic window.” There are hundreds more. Those of us who work in life sciences are comfortable with … Continue reading “Want to Communicate Your Science? First, Step Back”

Approved Opens for Business with $1M and Digital Mortgage Platform

Following a six-month trial of its digital mortgage platform, San Diego-based Approved has officially launched its Web-based software for home loan applications. In a recent statement, the 20-month-old startup also said it has raised $1 million in what co-founder and CEO Andy Taylor calls a “pre-seed round.” “Our goal is to create a platform [for … Continue reading “Approved Opens for Business with $1M and Digital Mortgage Platform”

OPS Solutions Scores More Funding from Michigan Capital Advisors

OPS Solutions, the Wixom, MI-based startup working on augmented reality technologies for manufacturers, has scored additional funding from lead investor Michigan Capital Advisors (MCA), a private equity firm focused on the automotive industry and transportation-related technologies. Earlier this month, MCA inked a deal to again invest in OPS, the maker of Light Guide Systems (LGS), … Continue reading “OPS Solutions Scores More Funding from Michigan Capital Advisors”

Why Bots Aren’t the Real AI Disruption: The Quiet Rise of Headless AI

Editor’s note: This piece was originally posted on Textio’s company blog. “Hey Siri, how’s the weather today?” “OK Google, remind me to pay the power bill.” “Alexa, tell me a joke!” Bots are eating the world. Whether you are an enterprising app developer building the essential software to bring a virtual Taylor Swift into your … Continue reading “Why Bots Aren’t the Real AI Disruption: The Quiet Rise of Headless AI”

Bio Roundup: CRISPR Appeal, Bristol Deals, Stock Pumping & More

It may have been a short holiday week, but there was plenty of news on the CRISPR front. In the ongoing battle for rights to the landmark gene editing technology, the faction led by the University of California appealed the U.S. decision in favor of the Broad Institute. Elsewhere, Bristol-Myers Squibb flipped assets, a top … Continue reading “Bio Roundup: CRISPR Appeal, Bristol Deals, Stock Pumping & More”

Plymouth Growth Partners Snags MIRA Award for Investor of the Year

A few years ago, when Ann Arbor, MI-based Plymouth Growth Partners was searching for new places to invest the $61 million in its third venture fund, the firm decided to look outside the Great Lakes State. “We were pretty heavily invested in Chicago and Michigan already,” recalls Jeff Barry, a partner at the firm formerly … Continue reading “Plymouth Growth Partners Snags MIRA Award for Investor of the Year”

Roundup: GreenLight Winners, Develop the Mitten, WaitTime & More

Here’s a look at innovation news from across Michigan: —Thanks in part to a $450,000 performance-based grant from the Michigan Strategic Fund, Huntington Bank announced it will invest $5.4 million in a downtown Flint expansion. The company plans to renovate its call center at the former regional headquarters of FirstMerit, which the bank acquired last year, and … Continue reading “Roundup: GreenLight Winners, Develop the Mitten, WaitTime & More”

Cirius Therapeutics Raises $40M to Expand Ongoing Liver Study

A $40 million transfusion led by Frazier Healthcare Partners and Denmark’s Novo A/S is bringing fresh life to a Michigan biotech working to advance a new experimental drug for treating a type of non-alcoholic fatty liver disease. As part of the financing, Kalamazoo-based Octeta Therapeutics has been rechristened Cirius Therapeutics, and three San Diego-based biotech … Continue reading “Cirius Therapeutics Raises $40M to Expand Ongoing Liver Study”

The Otonomy Story and the Human Impact of Innovation

[Editor’s note: Jay Lichter will discuss his personal odyssey in drug development on April 19 at The Xconomy Forum on the Human Impact of Innovation. Online registration is here.] I am a pharmaceutical scientist and a biotech venture capitalist. I start companies that are focused on creating new drugs. So when my doctor told me … Continue reading “The Otonomy Story and the Human Impact of Innovation”

NextEnergy Seeks I-Corps Energy & Transportation Program Applicants

With mobility and smart city technologies growing at a rapid pace, Detroit-based cleantech incubator NextEnergy and the University of Michigan’s Center for Entrepreneurship are seeking applicants for an upcoming I-Corps training program. The I-Corps program is designed to help entrepreneurs and researchers (both corporate and academic) commercialize their innovations. NextEnergy’s customized curriculum will focus on … Continue reading “NextEnergy Seeks I-Corps Energy & Transportation Program Applicants”

Bio Roundup: Gottlieb Talks Vax, Acorda’s Axe, Adams, 23andMe & More

In the nation’s capital, healthcare and life sciences were on center stage. Or stages, actually. On Capitol Hill, FDA commissioner nominee Scott Gottlieb, the drug industry’s favorite pick, told senators his extensive industry ties wouldn’t cloud his judgment or create conflicts. At a downtown convention center, Joe Biden slammed the Trump administration’s budget-cutting plans. And … Continue reading “Bio Roundup: Gottlieb Talks Vax, Acorda’s Axe, Adams, 23andMe & More”

AACR Review: Biden Fired Up, Incyte Doubles Up, BMS Up And Down

The American Association for Cancer Research held its annual meeting this week in Washington, DC, a convenient venue for former Vice President Joe Biden to deliver a broadside against the Trump administration’s proposed budget cuts in science funding. For Biden, it’s personal. In the final year of the Obama administration, he championed a push for … Continue reading “AACR Review: Biden Fired Up, Incyte Doubles Up, BMS Up And Down”

Michigan Growth Capital Symposium

This annual venture capital event hosted by the University of Michigan features two days of networking, speakers, panels, and startup presentations. Clay Thorp, general partner at Hatteras Venture Partners, will be the keynote speaker. For details and registration, click here.

Free Coding Workshop

Wondering how a person learns to write code to develop their own websites and mobile apps? Wonder no more: TechTown Detroit and Grand Circus are hosting a free coding workshop designed for people with no previous experience. Participants will learn the foundational skills needed to eventually create a website or app. Registration required; click here … Continue reading “Free Coding Workshop”

Some Cause for Optimism in Hired’s Research on Gender Wage Gap

Amid the ongoing conversation about gender discrimination in the tech industry, and recent sexual harassment claims against some of its biggest names, here’s some sort-of good news about women in tech: When companies make job offers to both men and women, women receive lower salary offers 63 percent of the time for the same job, … Continue reading “Some Cause for Optimism in Hired’s Research on Gender Wage Gap”

After a Turbulent Decade, A123 Plans New $40M Campus—and Layoffs

Livonia, MI-based A123 Systems, the maker of lithium-ion batteries primarily for use in electric cars, has once again pruned its operations to fit global cleantech demand. On Monday, the company announced plans to invest $40 million in a new, consolidated corporate headquarters, manufacturing center, and engineering base on 32 acres in Novi, MI, despite the … Continue reading “After a Turbulent Decade, A123 Plans New $40M Campus—and Layoffs”

FDA Nominee Scott Gottlieb To Anti-Vaccine Crowd: Get Over It

In what passes for a short hearing these days in Washington, DC, the Trump White House’s pick to run the Food and Drug Administration, Scott Gottlieb, spent less than three hours fielding questions from a Senate committee Wednesday morning. Amid predictable splits between Republican praise for his past industry experience and Democrat fire over potential … Continue reading “FDA Nominee Scott Gottlieb To Anti-Vaccine Crowd: Get Over It”

Slowdown Continues in First-Quarter VC Funding—and Top 10 Deals

Is a caution flag flying? While U.S. venture firms refueled last year by raising a near-record $51.6 billion, they also eased off the throttle in terms of their investment activity during the first quarter of 2017, according to data released today by Seattle-based PitchBook and the National Venture Capital Association (NVCA). According to the latest … Continue reading “Slowdown Continues in First-Quarter VC Funding—and Top 10 Deals”

To Infinity and Beyond: Julian Adams on Missteps and His New Job

Julian Adams left Boston pharma Millennium Pharmaceuticals in 2003 having accomplished a rare feat. A medicinal chemist by training, Adams helped shepherd along a drug known as bortezomib (Velcade) that was the first-ever approved inhibitor of the proteasome, the cell’s garbage disposal unit. It was an approach most people thought would never work. “Everybody was … Continue reading “To Infinity and Beyond: Julian Adams on Missteps and His New Job”

How Battling New Epidemics Helps Fight Age-Old Killers

Washington state has reported nearly 300 cases of mumps this winter and experts predict this may be the state’s worst flu season in years, a stark reminder of how dangerous even familiar viruses can be. While the Ebola and Zika outbreaks have dominated the headlines in recent years, they are part of a paradigm we … Continue reading “How Battling New Epidemics Helps Fight Age-Old Killers”

Bio Roundup: New Drug Bonanza, Vertex’s Triple Play, CAR-T Race & More

As far as singular weeks go for biotech, this was a big one. Three highly anticipated drugs were approved. One is the first injectable medication for eczema. Another might help fend off the recurrence of ovarian cancer. And a third offers hope for people with severe forms of multiple sclerosis. Another drug, a new combination … Continue reading “Bio Roundup: New Drug Bonanza, Vertex’s Triple Play, CAR-T Race & More”

A3: Automation is a Tool for Job Growth, But Better Training Needed

Southeast Michigan’s Association for Advancing Automation (A3) is one of the hosts of the biennial Automate conference happening next week in Chicago, and organizers say this year’s edition is expected to be the biggest yet, drawing more than 20,000 attendees. In anticipation of the event, A3, a trade group promoting automation, has produced a white … Continue reading “A3: Automation is a Tool for Job Growth, But Better Training Needed”