Privacy issues continued to boil to the surface in February. In part, it’s a reflection of the long tail of consequences that began in early 2018 when the broader public learned that Facebook had shared data from millions of user profiles with now-shuttered political marketing firm Cambridge Analytica. The consequences of that wider public awareness … Continue reading “Privacy Watch: FTC, Facebook, EU, the Cloud Act, & More CA bills”
Category: Detroit
SPECIAL REPORT: 2019 Biopharma Outlook – Facing an Uncertain Future
After years of boom times, the U.S. biopharmaceutical industry is dealing with unprecedented threats on several fronts: public backlash against high drug prices, slowing sales, and the possibility of more government regulation. In this Xconomy Special Report, our veteran biotech journalists Alex Lash and Ben Fidler bring you deep insights, based on conversations with key … Continue reading “SPECIAL REPORT: 2019 Biopharma Outlook – Facing an Uncertain Future”
Bio Roundup: Pharma in DC, Bristol-Cel in Trouble, Roche Gets A Spark
Could a shareholder revolt doom the planned marriage of Bristol-Myers Squibb and Celgene? Analysts have hinted at the possibility since the two companies shook hands in January, but the threat became real this week. Bristol (NYSE: [[ticker:BMY]]) and Celgene (NASDAQ: [[ticker:CELG]]) have campaignned heavily, starting with a joint presentation by their CEOs at the J.P. … Continue reading “Bio Roundup: Pharma in DC, Bristol-Cel in Trouble, Roche Gets A Spark”
State Allocates Funds for Advanced Computing Hub, Incubator Programs
It’s been a busy couple of weeks for state-supported entrepreneurial programs. On Wednesday, the Michigan Strategic Fund (MSF) approved $250,000 to support a new advanced computing hub at Wayne State University as part of the statewide Michigan Translational Research and Commercialization (MTRAC) program. MTRAC seeks to accelerate the transfer of technology developed at Michigan universities … Continue reading “State Allocates Funds for Advanced Computing Hub, Incubator Programs”
Ex-Google CEO: New MIT College Could Help Shrink A.I. Talent Gap
Eric Schmidt believes we’re entering an era where artificial intelligence will underpin most facets of human life. But we don’t yet have enough people with the right skills to build that future. Schmidt, the former CEO of Google and former executive chairman of its parent company Alphabet (NASDAQ: [[ticker:GOOGL]]), argues that the A.I. talent shortage … Continue reading “Ex-Google CEO: New MIT College Could Help Shrink A.I. Talent Gap”
7 Tips for Biotech Companies Seeking Capital in a Volatile Market
Last year was a remarkable year for biotech companies going public. Not only did an unusually large number of biotech companies go public, but a significant number of early-stage biotech companies went public at premium valuations relative to their later-clinical stage peers. There were approximately 58 biotech IPOs in 2018 (excluding offerings with under $25 … Continue reading “7 Tips for Biotech Companies Seeking Capital in a Volatile Market”
Carmera, Toyota Research Institute Zoom Ahead on AV Mapping Project
Carmera, the maker of dynamic, real-time, high-definition maps for use in mobility applications, announced today that it has entered into a commercial partnership with Toyota Research Institute-Advanced Development, the carmaker’s division focused on the development of autonomous vehicle technologies. The monetary value of the partnership was not disclosed. The two companies will collaborate on a … Continue reading “Carmera, Toyota Research Institute Zoom Ahead on AV Mapping Project”
Walmart’s Store No 8 Acquires Aspectiva to Bring A.I. to Shopping
Walmart’s Store No 8 innovation arm has acquired an Israeli machine learning startup, the retail giant announced Wednesday. Aspectiva joined the two-year-old Store No 8 Monday, and its employees will remain in Tel Aviv. “Store No 8’s record of innovation and of developing capabilities that will transform retail as we know it makes for the … Continue reading “Walmart’s Store No 8 Acquires Aspectiva to Bring A.I. to Shopping”
Pharma CEOs to Senate: We Will Lower Drug Prices if Rebates Go Away
Seven top pharmaceutical executives gathered today in Washington, DC, for a Senate hearing on drug prices, bringing face-to-face two groups held in the lowest esteem possible by the American public. Top executives from seven companies—AbbVie, AstraZeneca, Bristol-Myers Squibb, Merck, Johnson & Johnson, Pfizer, and Sanofi, which represent a combined $1.1 trillion in market value—stuck to … Continue reading “Pharma CEOs to Senate: We Will Lower Drug Prices if Rebates Go Away”
Mainstreet Mob Aims the Spotlight on Detroit’s Small Businesses
With so many new restaurants and retailers opening in downtown Detroit to much fanfare in the local press, the mom-and-pop businesses that have always served as the city’s backbone can feel excluded from the revitalization narrative. Often, the shoestring budgets of these small businesses don’t include resources for a digital marketing team, or they may … Continue reading “Mainstreet Mob Aims the Spotlight on Detroit’s Small Businesses”
Fintech Pitchfest Highlights Detroit’s Blockchain & Crypto Activity
Southeast Michigan, with its proximity to Canada and top-notch universities, as well as a growing financial technology ecosystem, is well-positioned to be a hub for blockchain businesses. So says Adam Zientarski, policy director at the Detroit Blockchain Center. His organization, in partnership with the FinTech Consortium and Detroit FinTech Bay, will host the inaugural Detroit … Continue reading “Fintech Pitchfest Highlights Detroit’s Blockchain & Crypto Activity”
Bio Roundup: NASH News, Merck Strikes, Digital Tokens & More
The growing epidemic of the fatty liver disease known as NASH, which has no FDA-approved treatment, has led to a frenzied race among drug companies. This week, one company, Intercept Pharmaceuticals, solidified its lead. But how much will being first to the finish line mean when all is said and done? Intercept (NASDAQ: [[ticker:ICPT]]) reported … Continue reading “Bio Roundup: NASH News, Merck Strikes, Digital Tokens & More”
Spatial.ai’s Geosocial Datasets Capture a Community’s Personality
Even with all that we’ve learned since 2016 about weak protections on consumer data privacy in the United States, people still love social media and reveal a ton of personal information in the course of all that posting, sharing, and liking. The insights gleaned from the wealth of social media data are fueling a number … Continue reading “Spatial.ai’s Geosocial Datasets Capture a Community’s Personality”
Self-Driving Cars in Boston Blinded by Solar Glare at Traffic Lights
Solar glare is making it tough for some self-driving cars being tested in Boston to read whether traffic lights are red, yellow, or green. MIT spinout NuTonomy said that on some recent occasions, the “low evening sun and solar glare” have occasionally kept its autonomous vehicles from being able to read the color on traffic … Continue reading “Self-Driving Cars in Boston Blinded by Solar Glare at Traffic Lights”
Detroit Urban Solutions Seeks to Amplify the Regional Tech Ecosystem
TechTown Detroit, Wayne State University, and NextEnergy have formed a new consortium to advance the Motor City’s tech ecosystem and apply new innovations to tough civic challenges. Called Detroit Urban Solutions, the consortium will focus primarily on mobility, digital health, civic, and smart city technologies. We called Paul Riser Jr., who is stepping down from … Continue reading “Detroit Urban Solutions Seeks to Amplify the Regional Tech Ecosystem”
Amazon Leads Rivian’s $700M Round, Hinting at Possible Auto Ambitions
Rivian, a Plymouth, MI-based company getting set to launch sales of its brawny, high-end electric vehicles, will be able to give those efforts a boost after raising $700 million in new funding. Amazon (NASDAQ: [[ticker:AMZN]]) led the investment in Rivian, the latest signal the retailing and technology giant could be poised to make waves in … Continue reading “Amazon Leads Rivian’s $700M Round, Hinting at Possible Auto Ambitions”
Google Confirms New Madison Office, Part of $13B National Expansion
Google confirmed this week that it will expand its satellite office in Madison, WI, as part of a $13 billion investment in data centers and offices nationwide in 2019. Xconomy reported Jan. 31 that the Bay Area tech giant intends to triple the size of its downtown Madison outpost by adding a second office, located … Continue reading “Google Confirms New Madison Office, Part of $13B National Expansion”
“Stigma is Going Away”: Cannabis IP is Thorny, But Not Impossible
No longer solely the provenance of hippie or outlaw types, the U.S. cannabis industry has become more sophisticated and tech-enabled as it has come out of the shadows over the past decade. Michigan voters pushed the state to joined the ranks of nine others last fall in approving adult use of recreational marijuana. But with … Continue reading ““Stigma is Going Away”: Cannabis IP is Thorny, But Not Impossible”
Bio Roundup: Trump’s Scalps, Policy Pressure, NASH Crash & More
While politicians continue to debate what kind of healthcare system is best for the American people, the mostly U.S.-based pharmaceutical industry is trying to convince those same politicians—and anyone else who will listen—that what’s good for the industry is also good for America. Forcing drug prices lower, industry argues, would be bad for our health, … Continue reading “Bio Roundup: Trump’s Scalps, Policy Pressure, NASH Crash & More”
Finding True Love Can Be Ruff, But This Startup Could Have Your Match
Too many people treat pet adoption like a one-night stand. “You look at a dog, and see his eyes, and think he’s cute,” says Tama Lundquist, co-president of Houston PetSet, an organization that works with about 70 animal shelters in the Houston area. “But if you’re a couch potato and he likes to run, that’s … Continue reading “Finding True Love Can Be Ruff, But This Startup Could Have Your Match”
Autonomous Truck Company TuSimple Adds $95M to Rev Up Commercial Fleet
TuSimple has pulled in $95 million more in venture funding to advance its development of a commercial autonomous fleet of trucks. The new Series D round of financing announced Wednesday boosts the San Diego-based company’s valuation to land it on the growing list of “unicorns”—the tech-world term coined for companies valued at $1 billion or above. … Continue reading “Autonomous Truck Company TuSimple Adds $95M to Rev Up Commercial Fleet”
Losing “Scalps”? Despite Pharma Fear, A Split on Trump Rx-Price Plans
Despite angry presidential tweets and other anti-pharma rhetoric, the drug industry has benefited under the Trump administration, thanks in part to a massive corporate tax cut. Indeed, for nearly two decades, the industry has been able to fend off its critics and gain win after win from politicians and regulators, including tax holidays, faster drug … Continue reading “Losing “Scalps”? Despite Pharma Fear, A Split on Trump Rx-Price Plans”
May Mobility Snags $22M Investment, Will Expand to New Cities in ’19
May Mobility, an Ann Arbor, MI-based startup developing self-driving shuttles, today announced that it has raised a $22 million Series A funding round. The company has raised approximately $33.5 million since its inception in 2017. The new investment was co-led by Millennium New Horizons and Cyrus Capital Partners, with participation from LG Technology Ventures, Thayer … Continue reading “May Mobility Snags $22M Investment, Will Expand to New Cities in ’19”
Roundup: Riser’s New Role, STEM Summit, U-M AV News, and More
Let’s catch up on Michigan’s latest innovation news: —[Clarification, 2/11/19, 9:31 p.m.; see below.] Earlier this month, U.S. Rep. Debbie Dingell (D-MI 12) announced that the University of Michigan will receive a $2.5 million grant through the U.S. Department of Transportation’s University Transportation Centers program to continue funding for the Center for Connected and Automated Transportation. … Continue reading “Roundup: Riser’s New Role, STEM Summit, U-M AV News, and More”
French Auto Supplier Valeo Moves Toward Mobility with New Innovations
Although the timeline for getting fully driverless cars on the road is in flux, the mobility industry is moving along at a rapid clip. Yet another huge investment in the sector was announced this week when Aurora Innovations, based in Pittsburgh and San Francisco, scored more than half a billion dollars from a group of … Continue reading “French Auto Supplier Valeo Moves Toward Mobility with New Innovations”
Bio Roundup: New CRISPR Feud, A NY Splash, Pharma vs. Congress & More
If you’re into congressional spectacles, stay tuned later this month. A group of top biopharma executives—the full roster isn’t known yet—will testify at a Feb. 26 hearing before the Senate Committee on Finance to defend their drug pricing practices. No executives showed up for the previous hearing, but reports indicate industry has changed its stance … Continue reading “Bio Roundup: New CRISPR Feud, A NY Splash, Pharma vs. Congress & More”
Genomenon Raises $2.5M, Plans to Increase Work with Pharma Customers
Genomenon, the Ann Arbor, MI-based genomics search engine startup, has raised $2.5 million in what the company calls a “seed extension” round. The equity financing included investments by IrishAngels, a group founded by Notre Dame alumni; H.W. Kaufman Group; Invest Michigan; and all previous investors, including Genomenon CEO Mike Klein. He says the company will … Continue reading “Genomenon Raises $2.5M, Plans to Increase Work with Pharma Customers”
Everdays Raises $12 Million for End-of-Life Communication Platform
Mark Alhermizi first found startup success with Gas Station TV, a Birmingham, MI-based company that broadcasted from gas station pumps and was sold to Dan Gilbert’s Rockbridge Growth Equity in 2014 for a reported $100 to $200 million. In 2017, Alhermizi started a new “social platform” venture called Everdays, which was born as a result … Continue reading “Everdays Raises $12 Million for End-of-Life Communication Platform”
Health Analytics “Supergroup” Crunches Data to Speed Drug Development
A new healthcare data analysis “supergroup” anchored by technology developed at MIT is getting some help from MMS Holdings, a Canton, MI-based contract service provider to biopharmaceutical companies. The Health Analytics Collective will use artificial intelligence-powered analysis software called Julia to help pharmaceutical companies streamline the process of getting new drugs to market, says Uma … Continue reading “Health Analytics “Supergroup” Crunches Data to Speed Drug Development”
Connected Car Firm Vinli Raises $13.5M, Partners With Germany’s E.ON
Dallas—Vinli, a connected car analytics startup, announced today it has raised a Series B funding round of $13.5 million. Investors in the round include German utility E.ON, The Westly Group in Menlo Park, CA; Hersh Family Investments, which is based in Irving, TX; and Hal Brierley, a longtime Dallas airline executive. Among the uses for … Continue reading “Connected Car Firm Vinli Raises $13.5M, Partners With Germany’s E.ON”
Cancer Cures and the Importance of Communicating Responsibly
Last week, it was reported by multiple media outlets (see here, and here, and here) that a group of Israeli scientists had found “a cure for all cancer” and that it could be ready within a year. As a long-time life sciences industry executive my knee-jerk reaction was not “finally!” but “crap, not again!” As … Continue reading “Cancer Cures and the Importance of Communicating Responsibly”
Privacy Watch: Facebook Rebounds, But Privacy Concerns Accelerate
After Facebook posted a record profit of almost $7 billion in the fourth quarter on nearly $17 billion in revenue last week, an early investor, former advisor to CEO Mark Zuckerberg, and current shareholder said he’s making it a mission to “fix’’ the 15-year-old tech giant. Roger McNamee, in a podcast interview with The New … Continue reading “Privacy Watch: Facebook Rebounds, But Privacy Concerns Accelerate”
Global Detroit Pushes Back on Trump’s Latest Immigration Proposals
President Donald Trump’s demand for more than $5 billion in budget appropriations to build a wall along the southern border of the United States—and congressional Democrats’ refusal to allocate that money—recently sparked the longest partial shutdown of the federal government in the nation’s history. That shutdown is now in temporary reprieve until mid-February, theoretically to … Continue reading “Global Detroit Pushes Back on Trump’s Latest Immigration Proposals”
Bio Roundup: Alzheimer’s Fail, Drug Price Plan, Gene Therapies & More
Pharmaceutical companies typically raise prescription drug prices at the start of each year and this year was no different. The increases were the latest reminder that, despite President Trump’s fiery campaign rhetoric, the administration had done little to actually lower drug prices. But a new plan aimed at the secretive rebate deals between pharma companies … Continue reading “Bio Roundup: Alzheimer’s Fail, Drug Price Plan, Gene Therapies & More”
Active Capital, Focused on Seed-Stage SaaS Startups, Raises $21.5M
San Antonio—Active Capital, a San Antonio, TX-based venture firm that invests in seed-stage software-as-a-service startups, has raised $21.5 million for its first investment fund. Active Capital has been investing for the last 18 months as it raised money from limited partners in mostly San Antonio, Austin, and Virginia. While Active’s investments cover a wide range … Continue reading “Active Capital, Focused on Seed-Stage SaaS Startups, Raises $21.5M”
Retailers Brace For Possible Economic Headwinds in 2019
Even as retailers struggle with a technology-disrupted business model and changing consumer desires, at least a generally positive overall economy and low unemployment rates seemed to keep shoppers’ wallets open. But a 2019 that started with stock market losses, a recently ended (but longest-ever) government shutdown, and other headwinds might now force consumers to pull … Continue reading “Retailers Brace For Possible Economic Headwinds in 2019”
Equidate, Re-Named Forge Global, Boosts Series B to $85M
Equidate, one of the trading platforms that help employees sell their shares in pre-IPO unicorn companies, rolled out a new name today and announced a $35 million expansion of its $50 million funding round publicized in July. Re-branded as Forge Global, the five-year-old company plans to continue broadening the services it developed as many venture … Continue reading “Equidate, Re-Named Forge Global, Boosts Series B to $85M”
Billie, Subscription Shaving Products Service for Women, Raises $25M
Billie, a monthly subscription service for shaving and body care products for women, has raised $25 million. The New York-based startup said Tuesday that the new funding round, which is being led by Goldman Sachs Private Capital Investing group, brings its total investment to $35 million. Previous investors Silverton Partners, Female Founders Fund, and Lakehouse … Continue reading “Billie, Subscription Shaving Products Service for Women, Raises $25M”
Roundup: Erie Hack, MedHealth Summit, PlanetM, DTX Detroit, WMU
Now that the holidays are over—heck, January is almost over—Michigan’s innovation hubs are hard at work. Here is a selection of recent tech news from around the state: —Do you wonder what the deal is with driverless cars? Do you have questions as a consumer about safety, technology, or cost? The University of Michigan will … Continue reading “Roundup: Erie Hack, MedHealth Summit, PlanetM, DTX Detroit, WMU”
Healthcare Technology Bubble Concerns Are Likely Overblown
By nearly every measure, 2018 was a banner year for the venture capital industry, particularly in the healthcare technology sector. Over $130 billion of venture capital was invested across all sectors in the U.S., easily eclipsing the prior high-water mark in 2000 and nearly 4.8 times what was invested a decade ago. While certain sectors … Continue reading “Healthcare Technology Bubble Concerns Are Likely Overblown”
Norwest VC Eyes Waves of Change in A.I., Marketing, Cloud for 2019
Venture capital firms invest in potentially disruptive technologies with the hope of profit, then keep watch for further advances that could overtake their existing portfolio companies. All this is done while they guide startups through other external challenges such as fundraising droughts and overall market downturns. Scott Beechuk, a partner at Norwest Venture Partners, is … Continue reading “Norwest VC Eyes Waves of Change in A.I., Marketing, Cloud for 2019”
MEDC Leader Details Michigan’s Road to the Waymo AV Factory Deal
This week, Michigan’s economic development office notched a win when it announced that Waymo, Google’s mobility arm, had chosen the Great Lakes State as the location for a new manufacturing operation. According to a press release from the Michigan Economic Development Corporation (MEDC), Waymo will invest $13.6 million in a factory that will integrate Waymo’s … Continue reading “MEDC Leader Details Michigan’s Road to the Waymo AV Factory Deal”
America Should Welcome Immigrant Entrepreneurs
When I came to America in 1987, as a wide-eyed University of Texas grad student, I arrived with just a suitcase and a few hundred dollars — money that my mother, back in India, had scraped together by selling her beloved jewelry collection. Three decades later, I’m a successful biomedical researcher and serial entrepreneur with … Continue reading “America Should Welcome Immigrant Entrepreneurs”
Neurable, Vectorform Partner on Brain-Computer Interface Applications
Neurable, a brain-computer interface (BCI) startup spun out of the University of Michigan and now based in Boston, has found a new partner in a familiar place. Vectorform, headquartered in Royal Oak, MI, is a software development and digital design firm that is collaborating with Neurable on BCI products for its clients in the automotive, … Continue reading “Neurable, Vectorform Partner on Brain-Computer Interface Applications”
What $1M in Bay Area Startup Dollars Buys You in 12 Other Cities
The cost of doing business is always on the mind of startup executives. Salaries, rent, and other expenses like software licenses can often make or break a company. Much of the math comes down to how much money you can raise for your business, and startups often look to San Francisco and Silicon Valley to … Continue reading “What $1M in Bay Area Startup Dollars Buys You in 12 Other Cities”
Bio Roundup: Bosley’s Editas Exit, Bridge Bucks, CRISPR Crime & More
In a week of big personnel moves, none was more surprising than Editas Medicine CEO Katrine Bosley’s departure. After guiding the CRISPR-Cas9 genome-editing startup from scientific breakthrough toward the development of a potential cutting-edge medicine, slogging victoriously through a legendary patent fight, and reaching the cusp of an historic clinical trial, the well-traveled Bosley is … Continue reading “Bio Roundup: Bosley’s Editas Exit, Bridge Bucks, CRISPR Crime & More”
Air Taxis Are on the Horizon with Boeing’s Test of Autonomous Plane
Many aviators use autopilot to control the trajectory of aircraft between takeoff and landing, but Boeing is among those in the industry seeking to advance autonomous flying technology even further. Boeing (NYSE: [[ticker:BA]]), which is headquartered in Chicago but has roots and extensive operations in the Seattle area, announced this week it conducted a successful … Continue reading “Air Taxis Are on the Horizon with Boeing’s Test of Autonomous Plane”
Autonomic CEO Gavin Sherry on Mobility, China, and Data Privacy
In a tech culture that looks toward self-driving cars as the pinnacle of mobility innovation, we’re still debating whether fully autonomous vehicles are an imminent reality for our roads or an ever-receding Shangri-La. But looking back from the viewpoint of 2019, it’s worth considering whether the really pivotal, world-changing advances in transportation have not already … Continue reading “Autonomic CEO Gavin Sherry on Mobility, China, and Data Privacy”
Report: BMW, Daimler Form Mobility Services Biz Called … Jurbey?
If you needed more evidence that automobile companies are taking self-driving cars and other emerging mobility tech seriously, look no further than this week’s report that German automakers BMW and Daimler have formed a new mobility services company, which will operate out of a central Berlin building that Daimler formerly used to host Mercedes-Benz Fashion … Continue reading “Report: BMW, Daimler Form Mobility Services Biz Called … Jurbey?”
“At a Critical Juncture,” Desktop Metal Gets $160M From Koch Fund
[Updated 11:41 am ET. See below.] Desktop Metal, a metal 3D-printing company, has raised $160 million in a funding round led by the technology arm of Koch Industries, the multinational industrial conglomerate owned by billionaire philanthropists and right-leaning political donors Charles and David Koch. With the Series E funding from Koch Disruptive Technologies and other investors, … Continue reading ““At a Critical Juncture,” Desktop Metal Gets $160M From Koch Fund”