Fuzic, the Indianapolis-based marketing tech startup, announced this week that it has closed on a $3 million seed funding round, bringing the total amount of money raised since inception to $3.5 million. Fuzic’s backers include High Alpha, Allos Ventures, and Hyde Park Venture Partners, as well as local angel investors. “We are very impressed with … Continue reading “Fuzic Closes on $3.5 Million Seed Round, Plans to Expand Reach”
Category: Indiana
Bio Roundup: Senate Trumpcare, FDA On Cancer, Alzheimer Review & More
All eyes are on the nation’s capital this week, where the Senate released its version of the American Health Care Act (now called the Better Care Reconciliation Act) and the White House worked on an executive order to address drug prices. No one knows how to pay for high-priced medicines that could bring long-term relief … Continue reading “Bio Roundup: Senate Trumpcare, FDA On Cancer, Alzheimer Review & More”
Lilly Adds Chemistry Capabilities in San Diego Lab Expansion
Eli Lilly (NYSE: [[ticker:LLY]]) has completed a $90 million expansion of its biotechnology R&D center in San Diego, added new automated synthesis equipment, and plans to build out its next-generation chemistry capabilities here over the next two years. The new facility adds 180,000 square feet of space to Lilly’s laboratory in La Jolla—a 145 percent … Continue reading “Lilly Adds Chemistry Capabilities in San Diego Lab Expansion”
Foxconn Founder Gives Details on Plan to Build Display Plant in U.S.
The founder and chairman of Foxconn, a Taiwanese multinational known as a key supplier for Apple (NASDAQ: [[ticker:AAPL]]) and other digital device makers, said Thursday that Foxconn plans to invest more than $10 billion in an electronics display-making plant in the U.S., according to a Reuters report. Terry Gou, who has led Foxconn since founding … Continue reading “Foxconn Founder Gives Details on Plan to Build Display Plant in U.S.”
Mary Lou Jepsen: The Full Xconomy Voices Interview
For the inaugural episode of our new podcast, Xconomy Voices, we chose to speak with Bay Area entrepreneur and executive Mary Lou Jepsen. She leads a startup called Openwater, which is developing a new kind of wearable imaging device that might one day enable communication by thoughts alone. Of course, there are nearer-term goals as … Continue reading “Mary Lou Jepsen: The Full Xconomy Voices Interview”
Introducing Xconomy Voices (Podcast), Episode 1: Mary Lou Jepsen
It’s always been Xconomy’s mission to reach audiences—both here on our website, and at our many live events around the country—with deep insights into the innovation process, divined from experts embedded in the world’s most important hubs of high-tech entrepreneurship. And now we’re doing that in one more medium: podcasting. I’m thrilled to be collaborating … Continue reading “Introducing Xconomy Voices (Podcast), Episode 1: Mary Lou Jepsen”
Alzheimer’s Drug Pipeline Analysis: Have We Hit Peak Amyloid?
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?”
Economic Study Ranks San Diego Near Top in Genomics Innovation
An economic impact study of San Diego’s emerging genomics industry counted 115 genomics-related companies operating in the region that directly employ over 10,000 people, and drive about $5.6 billion worth of annual economic benefits throughout the area. “San Diego is really end-to-end in genomics, from start to finish,” said Kirby Brady, who oversaw the study … Continue reading “Economic Study Ranks San Diego Near Top in Genomics Innovation”
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”
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”
Ur Hired: Canvas Helps Recruiters Interview Job Applicants Via Text
In the past decade, there has been plenty of handwringing in places like Indiana over the droves of talented young people leaving the state after graduation. Tech talent, in particular, tends to flee for the coasts as fast as possible, so it can be a challenge for homegrown companies to attract the attention of job … Continue reading “Ur Hired: Canvas Helps Recruiters Interview Job Applicants Via Text”
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”
Athenex IPO Raises $66M to Fund Clinical Trials for Cancer Drugs
The IPO window is still open for clinical-stage drug companies, and Athenex is now the latest one to pass through it. The cancer drug developer raised $66 million through a public stock offering on Wednesday, funding that the company will devote mostly to a pair of cancer drugs in late-stage clinical development. Athenex priced its … Continue reading “Athenex IPO Raises $66M to Fund Clinical Trials for Cancer Drugs”
AquaBounty Lines Up First U.S. Fish Farm With Deal for Indiana Site
[Corrected, 6/16/17, 12:03 pm. See below.] When salmon from AquaBounty Technologies reach grocery stores and restaurants, some of them will come from America’s heartland. AquaBounty (NASDAQ: [[ticker:AQB]]) has agreed to pay $14 million in cash to acquire some of the assets of Bell Fish Company, including that company’s fish farm in Albany, IN. The deal … Continue reading “AquaBounty Lines Up First U.S. Fish Farm With Deal for Indiana Site”
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”
Eli Lilly Fronts $55M for Rights to KeyBioscience’s Diabetes Drugs
With competition threatening to chip away at its diabetes stronghold, Eli Lilly is shoring up its pipeline with a deal that gives the company access to a potential new class of diabetes drugs. Indianapolis-based Lilly (NYSE: [[ticker:LLY]]) has agreed to pay $55 million up front to KeyBioscience in exchange for rights to compounds in various … Continue reading “Eli Lilly Fronts $55M for Rights to KeyBioscience’s Diabetes Drugs”
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”
Quantifi Launches With A.I. Approach to Digital Marketing Strategy
A new marketing tech firm called Quantifi launched today out of startup studio High Alpha, complete with $2 million in seed funding from a handful of investors. The Indianapolis-based company seeks to offer digital marketers a research and development platform where they can test new products and strategies before committing to a specific kind of campaign. … Continue reading “Quantifi Launches With A.I. Approach to Digital Marketing Strategy”
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”
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?”
Endocyte Cuts Workforce by 40 Percent After Clinical Trial Falters
Endocyte is halting a clinical trial for one of its cancer drugs and narrowing the focus of another following a review of the two early-stage drug programs, the company announced Friday. The changes are sparking a corporate restructuring that will shift the West Lafayette, IN-based company’s focus to compounds in its drug pipeline that have … Continue reading “Endocyte Cuts Workforce by 40 Percent After Clinical Trial Falters”
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”
Teva Seeks to Keep Pace in Migraine Drug Race With Trial Results
An experimental Teva Pharmaceutical migraine drug has met the main goals of a late-stage clinical trial, keeping the drugmaker in the race to bring to the market a product that prevents migraine headaches instead of treating them after they start. Teva (NYSE: [[ticker:TEVA]]) reported Wednesday that its drug fremanezumab reduced the number of days during … Continue reading “Teva Seeks to Keep Pace in Migraine Drug Race With Trial Results”
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”
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”
After Years of Growth, myCOI Plans Expansion That Could Add 185 Jobs
On Wednesday, Indianapolis startup myCOI announced it will invest nearly $1 million to more than double its footprint, creating up to 185 jobs by 2021. To help sweeten the deal, the Indiana Economic Development Corporation will grant myCOI up to $1.75 million in performance-based tax credits and up to $42,500 in workforce training grants. In … Continue reading “After Years of Growth, myCOI Plans Expansion That Could Add 185 Jobs”
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”
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”
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”
Startup Accelerator Gener8tor Explores Possible Expansion to Indiana
Gener8tor, a Wisconsin-based group that runs training programs for early-stage companies and invests in them, is considering bringing those programs to Indianapolis. The organization is still finalizing its decision about whether to expand into the Hoosier State. But if Gener8tor elects to do so, it will likely open an Indianapolis office by early 2018 and … Continue reading “Startup Accelerator Gener8tor Explores Possible Expansion to Indiana”
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?”
Cook Medical Gets FDA OK for Device to Treat Rare Birth Defect
In rare instances, a baby’s esophagus develops improperly during pregnancy, leaving a gap in this tube connecting the throat to the stomach. Babies born with this condition can’t eat by mouth, and they require surgery to repair the defect. Bloomington, IN-based Cook Medical recently received FDA approval for a new medical device that offers a … Continue reading “Cook Medical Gets FDA OK for Device to Treat Rare Birth Defect”
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”
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”
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”
Eli Lilly Migraine Drug Hits Study Goals, Paves Way for FDA Filing
An Eli Lilly drug developed to stop migraine headaches before they can start hit its main goals in a late-stage clinical trial, the company said Friday. With those results now in hand, the Indianapolis-based drugmaker plans to file for FDA approval of the drug later this year. Eli Lilly (NYSE: [[ticker:LLY]]) tested its drug galcanezumab … Continue reading “Eli Lilly Migraine Drug Hits Study Goals, Paves Way for FDA Filing”
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”
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”