[Corrected 8/11/15, 9:57 am. See below.] Loxo Oncology, the Stamford, CT-based biopharmaceutical company developing targeted cancer therapies, announced last week that it has appointed veteran life sciences executive (and Detroit Xconomist) Tim Mayleben to its board of directors. Mayleben is president and CEO of Ann Arbor, MI’s Esperion Therapeutics, and he has a long history … Continue reading “Loxo Oncology Appoints Esperion’s Mayleben to Board of Directors”
Category: Detroit
Why San Diego Is Better than Silicon Valley for AI Startups
Xconomy recently gathered some of the region’s leading minds in brain research and artificial intelligence for a discussion about research on the brain, and emerging areas of neurotechnology innovation . It was a mix of investors, academics, and entrepreneurs. Leading our discussion was UC San Diego Professor Ralph Greenspan, who helped advise President Obama to … Continue reading “Why San Diego Is Better than Silicon Valley for AI Startups”
Gov. Snyder Announces “We Run on Brainpower” Talent Initiative
At a Center for Automotive Research event in Traverse City, MI, this week, Gov. Rick Snyder announced a new statewide effort to publicize high-tech automotive jobs in Michigan in an effort to attract and retain talent. Called We Run on Brainpower, the marketing initiative will be directed by the Michigan Economic Development Corporation (MEDC) and … Continue reading “Gov. Snyder Announces “We Run on Brainpower” Talent Initiative”
Sakti3, NextEnergy Represent MI at First-Ever White House Demo Day
Xconomist Ann Marie Sastry, founder of the Ann Arbor, MI-based advanced battery startup Sakti3, has collected many accolades during her career. But this week might have been the first time she got an in-person “atta girl” from the leader of the free world. Sastry was in Washington, DC, Tuesday for the first-ever White House Demo … Continue reading “Sakti3, NextEnergy Represent MI at First-Ever White House Demo Day”
FDA Taps DNAnexus to Build Platform for Crowdsourcing Diagnostics
There is an FDA project underway that could help change the way molecular diagnostics are developed, evaluated, and regulated in the U.S. one day, should things go the way the agency intends. And Mountain View, CA-based DNAnexus is getting the first crack at building the platform at the plan’s heart. DNAnexus, the genomics analytics startup … Continue reading “FDA Taps DNAnexus to Build Platform for Crowdsourcing Diagnostics”
Mobile Monday Detroit
The Mobile Technology Association of Michigan hosts this monthly event, this time showcasing Michigan-made apps. Six Michigan companies will present and discuss their mobile technology. For more information, click here.
NewCo Detroit
NewCo Detroit returns for a second year. Organizers describe it as “a mashup of an open studio tour and business conference that enables attendees to go behind the scenes at innovative Detroit companies and organizations.” Participants will be introduced to up-and-coming local startups by touring their offices and attending sessions there. For details and schedule, … Continue reading “NewCo Detroit”
Stock Options—a Golden Ticket?
When is a stock option a golden ticket, when is it of no consequence, and when is it a losing proposition? These are important questions for people in the startup world, where stock and stock options are a key part of most compensation packages. Startup companies like using stock because it costs little at a … Continue reading “Stock Options—a Golden Ticket?”
Zoetis Gets Conditional License for Antibody Treatment of Itchy Dogs
Zoetis (NYSE: [[ticker:ZTS]]), a maker of animal health medicines and vaccines, announced this week that it has received a conditional license from the U.S. Department of Agriculture (USDA) for its immunotherapeutic to treat canine atopic dermatitis, an allergic skin condition in dogs. The company, which bases its research and development operations in Kalamazoo, MI, says its … Continue reading “Zoetis Gets Conditional License for Antibody Treatment of Itchy Dogs”
Astia Expanding Its Booster Network for Women Entrepreneurs
Sharon Vosmek, the CEO of a Silicon Valley non-profit that has been working for 15 years to boost access to financing for women tech entrepreneurs, says she sees no encouraging statistics on that score as yet. What has changed, though, is the number of people and organizations engaged in the dialog about gender diversity in … Continue reading “Astia Expanding Its Booster Network for Women Entrepreneurs”
As White House Hosts Demo Day, Techstars and Others Push Diversity
It’s no secret that the tech industry has diversity problems. Xconomy has covered the topic extensively, highlighting various allegations of misogyny, sexism, and harassment that occur at startups, as well as folks who are trying to change it for the better. That includes individuals like Robin Hauser Reynolds, who described the work of her documentary, … Continue reading “As White House Hosts Demo Day, Techstars and Others Push Diversity”
In Tough Diagnostics World, Will Ruling Out Cancer Be Good Business?
The high cost of cancer treatments is a huge topic of conversation these days. One way to trim those costs is to not give treatments to people who don’t need them. That sounds like a no-brainer, but it’s a knotty problem, and it’s at the heart of the current debate over the nationwide practice of … Continue reading “In Tough Diagnostics World, Will Ruling Out Cancer Be Good Business?”
Roundup: YFS Automotive, Automation Alley, Ann Arbor SPARK, NextEnergy
Here’s a look at news from around Michigan’s entrepreneurial ecosystem: —The New York Times reported two years ago that Chinese automakers were quietly building a presence in Michigan. The latest company to set up shop in Michigan is supplier YFS Automotive Systems, a China-based company with a U.S. headquarters in Gallatin, TN. Last week, YFS … Continue reading “Roundup: YFS Automotive, Automation Alley, Ann Arbor SPARK, NextEnergy”
Taking the Social Media Plunge at the C-Level
“You’ve got to play to win.” “With great risk, comes great reward.” Both of those popular phrases address the same concept – that in order for a company to grow, the leaders must be invested in every aspect of the business and willing to embrace technology, communication, and social changes. That idea is especially important … Continue reading “Taking the Social Media Plunge at the C-Level”
Debugging the Gender Gap: Filmmaker Warns of Economic Crisis in Tech
As a former stockbroker, Robin Hauser Reynolds knows what it’s like to be a woman in a field dominated by men. Over the past couple of years, the San Francisco Bay Area film director and self-described feminist has immersed herself in another industry that has become notorious for its gender gap: tech. Poor gender diversity … Continue reading “Debugging the Gender Gap: Filmmaker Warns of Economic Crisis in Tech”
Jeep Cyberattack: Why Cars Are Much Bigger Security Risks Than Mobile Devices
[Updated 8/6/15, 10:44 am. See below.] Back in early 2012, cybersecurity researcher Cameron Camp wrote a blogpost under the heading, “Could your next new car be hacked (should you be scared)?” Camp identified significant potential dangers as automakers moved beyond the simpler computers first installed in cars years ago—to do tasks like calculating fuel inputs … Continue reading “Jeep Cyberattack: Why Cars Are Much Bigger Security Risks Than Mobile Devices”
Drug Discovery in Seattle 2015: An Updated History
The drug discovery and development process is a difficult one that takes considerable expertise in both the research and business realms. Seattle (and the rest of Washington state) currently has approximately 112 drug-focused biotechnology companies, 17 of which are publicly traded either in the U.S. or Japan. The area also has a number of non-profit … Continue reading “Drug Discovery in Seattle 2015: An Updated History”
HiveLend Seeks to Connect Beekeepers and Farmers Online
We’re firmly in the era of the Uberization of Everything, and even the slow-to-digitize agricultural industry is getting in on the trend. HiveLend, the Ann Arbor, MI-based startup that won Ann Arbor SPARK’s Best of Bootcamp honors in May, is seeking to help mitigate the ravages of colony collapse disorder (CCD) by connecting farmers and … Continue reading “HiveLend Seeks to Connect Beekeepers and Farmers Online”
3D Sensor Startup Occipital Closes $13M Series B, Plans Expansion
Occipital, a San Francisco startup founded by two University of Michigan alums, announced this week that it has raised $13 million in a Series B round. Participating in the round is a previous investor, Colorado-based Foundry Group, as well as Intel Capital, Shea Ventures, and Grishin Robotics. Adam Rodnitzky, Occipital’s vice president of marketing, said … Continue reading “3D Sensor Startup Occipital Closes $13M Series B, Plans Expansion”
MI Roundup: iDashboards, OnStar, Zagster, Pure Michigan LIVE & More
Here’s a look at news you may have missed from around Michigan’s innovation hubs: —iDashboards, the Troy-based business intelligence software company, has formed a “value-add reseller” partnership with Phoenix Systems, a Canadian software and hardware service provider. Phoenix Systems will now offer iDashboards’ data visualization products to its customers, and the company said in a … Continue reading “MI Roundup: iDashboards, OnStar, Zagster, Pure Michigan LIVE & More”
Drug Discovery and Development in Michigan
MichBio and the University Research Corridor host this symposium showcasing drug R&D activities at the state’s research universities. The discussion will center on developing, funding, commercializing, and collaborating on new therapeutic discoveries. For details and registration, click here.
Modustri Software Helps Caterpillar Monitor Equipment’s Wear and Tear
The Grand Rapids, MI-based heavy-equipment technology startup Modustri announced it has entered into a strategic partnership with Caterpillar to develop new products that will help Caterpillar’s customers measure the amount of wear on their machines and better optimize their fleets. The exact terms of the deal were not disclosed. “We had an opportunity to understand … Continue reading “Modustri Software Helps Caterpillar Monitor Equipment’s Wear and Tear”
Are Qualcomm Layoffs a Disaster for San Diego—or an Opportunity?
After years of strong corporate and financial growth, the pace of change in the wireless industry has forced a massive global layoff at San Diego-based Qualcomm (NASDAQ: [[ticker:QCOM]]. If the wireless giant had only 1,000 employees, a layoff of 150 folks would not be big news. But with a worldwide payroll of 31,000, and a … Continue reading “Are Qualcomm Layoffs a Disaster for San Diego—or an Opportunity?”
It’s My Michigan Secures Series A Funding
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=f3565406-3f02-4488-b2d1-e6e746168087 Date 7/27/2015 Company Name It’s My Michigan Mailing Address P.O. Box 822 Highland, MI 48357 USA Company Description It’s My Michigan” is here to help Michigan Businesses, Residents, Schools and non-profit organizations. Website http://www.itsmymichigan.com Transaction Type Venture Equity Transaction Amount Undisclosed Transaction Round Series A Proceeds Purposes The funds will be … Continue reading “It’s My Michigan Secures Series A Funding”
Levanto Financial Obtains $1,601,493 New Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=378f83b8-1460-45cc-a85f-dd17c621633e Date 7/24/2015 Company Name Levanto Financial Mailing Address 2301 W Big Beaver Road Troy, MI 48084 USA Company Description We help you create time, outsource mundane tasks, and achieve freedom from your finances without the grunt work. Find out how Levanto is everyone’s household CFO, and why our clients have more … Continue reading “Levanto Financial Obtains $1,601,493 New Financing Round”
MCity and the Race to Get Connected Cars on the Road
The University of Michigan unveiled MCity this week to a throng of international media and local dignitaries on hand to check out the $6.5 million, 32-acre controlled environment specifically designed to test the potential of connected and automated vehicle technologies. The replica city—complete with movable building facades; roundabouts and traffic signals; bike lanes and a … Continue reading “MCity and the Race to Get Connected Cars on the Road”
Companies May Stay Private as VCs Invest $32.5B, Report Says
As record levels of venture funding piles into startups, more companies may stay private rather than file for initial public offerings, according to venture capital database CB Insights and accounting firm KPMG. Private companies raised more than $32.5 billion in the second quarter of 2015, with about half of the total coming from 61 deals … Continue reading “Companies May Stay Private as VCs Invest $32.5B, Report Says”
Are Humans the Key to Discovery in a World of Digital Abundance?
We are drowning in content. Blogs made everyone a journalist. Self-publishing made everyone an author. YouTube made everyone a filmmaker. iTunes made everyone a musician. Publishing houses, record labels, and newsrooms have lost their long-held position as gatekeepers of taste. This is largely a good thing, particularly for aspiring artists. I’m a novelist. FG Press … Continue reading “Are Humans the Key to Discovery in a World of Digital Abundance?”
In Biotech, Everyone’s Going Public. What’s Your Excuse?
Biotechs everywhere are going public these days. You might have heard. Approaching the traditional market lull in August, we’re up to nearly 40 life science IPOs in 2015, by my own count, with plenty more lined up. That’s more than half way to last year’s mark and already past the 2013 total. I weighed in … Continue reading “In Biotech, Everyone’s Going Public. What’s Your Excuse?”
New $2.7M Macomb Innovation Fund Awards $275K to Five Startups
Five startups from Southeast Michigan were today awarded a total of $275,000 from a new $2.7 million innovation fund that is a joint effort between Macomb Community College (MCC) and JP Morgan Chase, as part of the latter’s $100 million, five-year initiative to stimulate Detroit’s revitalization. The purpose of the fund, organizers said in a … Continue reading “New $2.7M Macomb Innovation Fund Awards $275K to Five Startups”
Rock the House—from Silicon Valley to China
It’s that time of the quarter, when venture capital fundraising data are released by the National Venture Capital Association (NVCA), possibly leaving all the sophisticated investors across the industry wringing their collective hands about frothiness. The latest data shows that VCs in 2Q15 raised over $10.4 billion (slightly revised upward from the amount first announced … Continue reading “Rock the House—from Silicon Valley to China”
Sharing Economy Companies Sharing the Heat In Contractor Controversy
[Corrected 7/31/15, 2:34 pm. See below.] For some time, Uber and other Silicon Valley tech companies have been fighting off lawsuits and other claims that their labor practices are unfair to on-demand workers they classify as independent contractors rather than as employees. The heat mounted this week on a number of fronts. The issue took … Continue reading “Sharing Economy Companies Sharing the Heat In Contractor Controversy”
DRYV Offers Detroiters On-Demand Dry-Cleaning and Delivery
Believe it or not, my least favorite thing about Detroit is not the crime, systemic poverty, or proliferation of twee, wildly overpriced hipster boutiques. What drives me crazy about the Motor City is actually the utter lack of delivery services and on-demand service provider options. Savvy startups are beginning to notice that hole in the … Continue reading “DRYV Offers Detroiters On-Demand Dry-Cleaning and Delivery”
Move West, Raise Cash: ProNAi’s Hot Streak Now Includes $138M IPO
When Xconomy last reported on ProNAi Therapeutics (NASDAQ: [[ticker:DNAI]]) in April 2014, the biotech developing cancer drugs based on DNA interference (DNAi) technology had just closed a Series D round of nearly $60 million. This week, ProNAi took to the public markets, raising $138 million in an initial public offering and watching its share price … Continue reading “Move West, Raise Cash: ProNAi’s Hot Streak Now Includes $138M IPO”
Venture Investing Hits Record $19B in Second Quarter
[Updated 7/17/15, 7:40 a.m. See below.] There’s plenty of talk about a potential bubble in the market, whether in tech, biotech, or elsewhere. True or not, one fact that’s real is that there is plenty of money flowing into startups. The second quarter of 2015 produced the highest level of venture funding since at least 2010, and possibly … Continue reading “Venture Investing Hits Record $19B in Second Quarter”
Rubicon Genomics Garners $2,000,000 New Funding
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=8bae0940-966f-493a-9917-6a283572ee62 Date 7/16/2015 Company Name Rubicon Genomics Mailing Address 4355 Varsity Drive Ann Arbor, MI 48108 USA Company Description Rubicon has developed a superior test to non-invasively diagnose cancer and other diseases using its proprietary MethylPlex technology to amplify the exceedingly small amounts of abnormally-methylated DNA that are released by diseased tissue … Continue reading “Rubicon Genomics Garners $2,000,000 New Funding”
Rubicon Genomics Raises $2M, Prepares to Launch New Plasma Product
Rubicon Genomics, the Ann Arbor, MI-based University of Michigan life sciences spinout, today announced it has raised $2 million in a structured debt deal. The financing was led by BroadOak Capital Partners in Bethesda, MD, with participation from Tucson, AZ-based Research Corporation Technologies. The announcement caps a year of intense growth for the company, said … Continue reading “Rubicon Genomics Raises $2M, Prepares to Launch New Plasma Product”
Reveal Design Automation Lands $50,000 New Funding
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=7a48c501-d531-426b-bb57-d53bacad72ed Date 7/15/2015 Company Name Reveal Design Automation Mailing Address 1600 Huron Parkway 2nd Floor Ann Arbor, MI 48105 USA Company Description We design and sell automated software solutions for performing scalable and comprehensive verification of digital logic designs to chip design firms. Reveal is an early-stage technology spin-out from the University … Continue reading “Reveal Design Automation Lands $50,000 New Funding”
Roundup: U-M, Grand Circus, Quicken Loans, MI Science Center & More
Here’s a look at news from around Michigan’s innovation hubs: —The Zell Family Foundation announced this week that it has pledged another $60 million to the University of Michigan’s Zell Lurie Institute for Entrepreneurial Studies at the Ross School of Business. The money will provide endowed funding for the institute and its programs for students … Continue reading “Roundup: U-M, Grand Circus, Quicken Loans, MI Science Center & More”
Milestones Of Innovation 10: First Close-Up Of A Planet
Today, NASA’s New Horizons spacecraft, after more than nine years, 3 billion miles, and a brief view of Jupiter’s moon Io, is scheduled to capture the first close-up pictures from the distant minor planet Pluto and its flock of moons. It’s a fine way to celebrate the 50th anniversary of this kind of high-tech virtual … Continue reading “Milestones Of Innovation 10: First Close-Up Of A Planet”
U-M’s Zell Lurie Fund Invests in Reveal Design Automation
The University of Michigan’s Zell Lurie Commercialization Fund announced Friday that it has invested $50,000 in Ann Arbor, MI’s Reveal Design Automation, a university spin-out working in the area of semiconductor chip verification. Zaher Andraus, Reveal Design Automation’s CEO, said the company plans to use the money to hire more employees and pursue its first … Continue reading “U-M’s Zell Lurie Fund Invests in Reveal Design Automation”
Five Lessons Every App Startup Should Learn
Mobile devices create plenty of pitfalls for entrepreneurs. The nuances of nailing not only the on-screen user experience, but the broader experience of integrating a piece of software into one’s everyday life dramatically increases the risk of failure. As a mobile entrepreneur, you have more variables that you need to test and control in your … Continue reading “Five Lessons Every App Startup Should Learn”
Tech Bubble Talk Focuses on IPO Dearth, Overpriced Rounds, and China
The question is no longer whether we are in a tech bubble—we are—but rather what it all means for the future. And maybe the near future. Everyone seems to agree the market conditions are very different from 2000, but so what? Uber’s valuation is north of $40 billion, and the company is losing money as … Continue reading “Tech Bubble Talk Focuses on IPO Dearth, Overpriced Rounds, and China”
21st Century Cures Act Passes House, Now Must Navigate Senate
The U.S. House of Representatives took a big step this morning toward major changes in the federal government’s relationship to biomedical research, funding, and regulation. The chamber passed the 21st Century Cures Act, a bill championed early on by a Democrat and a Republican, by a vote of 344-77, an astonishing percentage in this age … Continue reading “21st Century Cures Act Passes House, Now Must Navigate Senate”
How to Start a Startup Series
Bizdom Detroit hosts this series of lectures from Stanford University’s “How to Start a Startup” course. At each meeting, participants will watch one talk from the class and discuss its contents. This week’s topic is later-stage advice. For details, click here.
DTX Launch Detroit Showcase 2015
The Detroit Technology Exchange (DTX) hosts the final presentations from Launch Detroit’s 10-week summer tech accelerator, from startup teams comprised of college students and recent grads aspiring to launch technology ventures. Come network, meet the teams, and hear their ideas. To register, click here.
Sound Band Backers, Rejoice: Thiel Says Your Device is Coming Soon
Good news for Kickstarter backers of Hybra Advance Technology’s Sound Band project: Beta test units have been shipped. Co-founder Joe Thiel said that as soon as Hybra incorporates any feasible changes requested by beta testers, Sound Band units will be sent to all the remaining Kickstarter backers—by the end of the year, Thiel said, if … Continue reading “Sound Band Backers, Rejoice: Thiel Says Your Device is Coming Soon”
BioStar Ventures Raises $68.6M Fund for Med-Tech Companies
BioStar Ventures has raised a $68.8 million third fund, its largest to date, and plans to invest the money in as many as 18 emerging med-tech companies during the next five years, the firm said in a statement today. Its first two funds totaled $65 million. The firm has previously invested in 30 companies, including … Continue reading “BioStar Ventures Raises $68.6M Fund for Med-Tech Companies”
“Global Health” Must Mean Global Health
The research community and pharmaceutical industry have made many life-saving and life-improving advances in global health over the past 20 years, and that’s certainly life-affirming news. But the time has come to ask ourselves a very pointed, and perhaps uncomfortable, question: “Are we defining ‘global health’ the right way?” And, more specifically, “How do we … Continue reading ““Global Health” Must Mean Global Health”
For Biotech Cowboys, It’s No Ride Into The Sunset
[Corrected 7/8/15, 3:48pm. See below.] Some people who’ve made it big in biotech drive fast cars. Some take outlandish vacations. Some don’t take any vacations at all. (I’m sure you know the type.) But for a few San Francisco Bay Area biotech veterans, the reward for a long, successful career is the chance to swap … Continue reading “For Biotech Cowboys, It’s No Ride Into The Sunset”