As artificial intelligence begins creeping into virtually every industry, it makes sense that Wall Street would be one of the first places where it makes an impact—there’s a ton of data to crunch, and money to be made if software can help make better decisions more quickly. Kensho Technologies is one of the startups gaining … Continue reading “Wall Street Bets $50M on Kensho’s A.I. Investing Tools”
Category: National
After Trial Deaths, Juno Pivots and Scraps Lead CAR-T Therapy
Juno Therapeutics said today it would discontinue its experimental CAR-T cell product known as JCAR015. It was once Juno’s top candidate as the company raced rivals to be the first to win approval of a new kind of cancer treatment called CAR-T. The decision was not unexpected. Juno (NASDAQ: [[ticker:JUNO]]) hoped that a 110-person clinical … Continue reading “After Trial Deaths, Juno Pivots and Scraps Lead CAR-T Therapy”
Backed by Seattle Angels, BluHaptics Readies Robot Control Software
The typical controller that human operators use to manipulate a multi-million-dollar undersea robotic arm is a complicated, analog model of the arm itself. Operators direct the movement of each joint, making a costly, high-pressure task such as repairing oil and gas facilities or cleaning up munitions that much harder and more susceptible to mistakes. Seattle startup … Continue reading “Backed by Seattle Angels, BluHaptics Readies Robot Control Software”
Texas Medical Center CEO Robert Robbins in Line For Top Arizona Post
[Updated 3/01/17 4:37 pm. See below.] Houston—Robert Robbins, the CEO of the Texas Medical Center, is one of two finalists vying to be the next president of the University of Arizona. The Phoenix-based Arizona Board of Regents announced Monday that the top two candidates are Robbins and Sethuraman Panchanathan, the executive vice president and chief research and … Continue reading “Texas Medical Center CEO Robert Robbins in Line For Top Arizona Post”
Join Xconomy in June for ‘What’s Hot In Cancer Immunotherapy 2017’
Our bodies fight cancer every day, repairing DNA and cleaning out suspicious cells. But sometimes our powerful immune systems need help. That’s the concept of immunotherapy. Three years ago, the ideas long dreamed of by cancer researchers were quickly taking shape, and Xconomy convened scientists, investors, entrepreneurs, and others in Seattle to take stock of … Continue reading “Join Xconomy in June for ‘What’s Hot In Cancer Immunotherapy 2017’”
Celect Grabs $10M for Retail Inventory Software Based on MIT Tech
Celect has raised $10 million to help retailers manage their inventory using machine learning tools originally developed at MIT. The Series B round was led by Activant Capital, with contributions from Fung Capital and August Capital. Celect previously raised at least $5.2 million from investors, according to SEC filings. Celect’s cloud-based software uses predictive analytics … Continue reading “Celect Grabs $10M for Retail Inventory Software Based on MIT Tech”
StemBioSys Lands Experimental UT Tech That Finds Young Stem Cells
San Antonio — StemBioSys, the life sciences company with a system for growing stem cells, has licensed an experimental technology from University of Texas Health San Antonio that may help identify healthy young adult stem cells among large pools of other cells. There’s plenty of research examining how to possibly use adult stem cells as treatments … Continue reading “StemBioSys Lands Experimental UT Tech That Finds Young Stem Cells”
Drugmakers, Amazon Back Grail’s Big Cancer Trials With $900M
Last month, Grail publicly spread word of intentions to raise more than $1 billion in an ambitious quest to develop a blood test that can diagnose and detect cancer at its earliest stages. Today, the Menlo Park, CA, startup has revealed the crop of drugmakers and others it has secured to fund the effort. Grail … Continue reading “Drugmakers, Amazon Back Grail’s Big Cancer Trials With $900M”
Medisafe Takes In $14.5M to Help Patients Manage Medications
[Updated 3/1/17, 9:35 a.m. See below.] Prescriptions can be complicated and confusing, especially for patients taking more than one set of pills. But when people don’t properly follow their prescription plans, it can lead to deteriorating health, additional hospital visits, and potentially life-threatening episodes. The costs are high for the healthcare industry, too. Studies have … Continue reading “Medisafe Takes In $14.5M to Help Patients Manage Medications”
Former FDA Commissioners Califf, McClellan Talk Healthcare’s Future
The top spot at the FDA remains vacant, and the change in presidential power has some healthcare observers wondering about possible changes for the regulator. One month removed from serving as FDA commissioner, Robert Califf says the agency can be improved through a combination of precedent, experience, and evidence. Califf, who served less than one … Continue reading “Former FDA Commissioners Califf, McClellan Talk Healthcare’s Future”
FDA Approves Houston Biotech Lexicon’s Carcinoid Syndrome Diarrhea Drug
Houston—Lexicon Pharmaceuticals announced Tuesday that the FDA has approved its treatment for diarrhea caused by carcinoid syndrome, telotristat ethyl (Xermelo). Lexicon (NASDAQ: [[ticker:LXRX]]) says it is the first orally administered therapy to treat carcinoid syndrome diarrhea in combination with somatostatin analog, or SSA, therapies, which target the root cause of the problem: overproduction of hormones. … Continue reading “FDA Approves Houston Biotech Lexicon’s Carcinoid Syndrome Diarrhea Drug”
Bee Corp. Aims to Help Beekeepers Fight Colony Collapse Disorder
By pollinating the crops that provide us with fruits, nuts, and vegetables, honeybees play a vital role in agricultural production and contribute more than $15 billion annually to the U.S. economy, according to a 2014 White House fact sheet. However, since the onset of colony collapse disorder (CCD) in 2007, the beekeeping industry has suffered … Continue reading “Bee Corp. Aims to Help Beekeepers Fight Colony Collapse Disorder”
With Eye On FDA, Kite Says CAR-T For Lymphoma Holds Up After 6 Months
Kite Pharma released more data this morning that it hopes will lead this year to the first commercial approval of a cutting-edge cancer treatment known as CAR-T therapy. The Santa Monica, CA, firm will soon ask the FDA for approval to use its CAR-T therapy, known as axicabtagene ciloleucel, to treat patients with desperate cases … Continue reading “With Eye On FDA, Kite Says CAR-T For Lymphoma Holds Up After 6 Months”
TX Roundup: Xenex & data.world Funding, Accenture Hub, & Lynda Chin
Let’s get caught up with the latest innovation news from Xconomy Texas. —When you spent your childhood in places like Dakar, Senegal, and Beirut, perhaps it’s not so surprising that, in adulthood, your travel itinerary would include the South Pole and outer space. NASA astronaut and serial inventor, Scott Parazynski, speaks about Thomas Edison and … Continue reading “TX Roundup: Xenex & data.world Funding, Accenture Hub, & Lynda Chin”
Underscore.VC Co-founder C.A. Webb Departs Venture Firm
C.A. Webb is leaving Underscore.VC, the Boston early-stage venture firm that she helped start less than two years ago. Webb, Underscore’s co-founder and community partner, announced her departure in a Medium post on Monday. She attributed the move to the evolution of the firm, to the point that it is no longer the right fit for her. … Continue reading “Underscore.VC Co-founder C.A. Webb Departs Venture Firm”
Founders of Grand Ventures Double Down on Michigan Startup Growth
Early-stage tech entrepreneurs in Michigan now have a new source of investment capital to chase. Grand Rapids, MI-based Grand Ventures, established earlier this month by McKeel Hagerty of Hagerty Insurance and Huron River Ventures’ Tim Streit, will provide support to high-growth tech startups focused on agriculture, manufacturing, transportation, and other industries with strong Midwest presence, … Continue reading “Founders of Grand Ventures Double Down on Michigan Startup Growth”
Blood Pressure Drug Trial Results Lift La Jolla Pharma Shares
La Jolla Pharmaceutical’s experimental drug to treat a deadly blood pressure condition hit its main goal in a Phase 3 clinical trial, boosting the company’s stock price by more than 75 percent on Monday morning. San Diego-based La Jolla (NASDAQ: [[ticker:LJPC]]) is studying its drug LJPC-501 in patients who have dangerously low blood pressure, which can … Continue reading “Blood Pressure Drug Trial Results Lift La Jolla Pharma Shares”
Nonprofit Seeds Exonics to Fund Push For CRISPR Duchenne Treatment
Two newly approved drugs slow the progression of the rare and deadly Duchenne muscular dystrophy, but nothing on the market actually reverses the march of the disease. An emerging group of experimental gene therapy and gene editing treatments designed to do so are creeping towards human clinical testing, however, and one of them has just … Continue reading “Nonprofit Seeds Exonics to Fund Push For CRISPR Duchenne Treatment”
Five Questions For … Astronaut & Serial Inventor Scott Parazynski
Houston—As children, many of us believed we would have out-of-this-world experiences as adults. Scott Parazynksi is actually living that childhood wish. As a NASA astronaut, Parazynski has flown on five shuttle missions and completed seven spacewalks, including at the International Space Station. A physician, he was the founding director of the University of Texas Medical … Continue reading “Five Questions For … Astronaut & Serial Inventor Scott Parazynski”
Advaxis Inks Deal with Sellas to Develop New Cancer Immunotherapy
Advaxis and Sellas Life Sciences Group, two companies that have pursued different ways of prompting the body’s immune system to fight cancer, are now hoping that combining their efforts will lead to a more precise treatment. The agreement between the companies calls for Princeton, NJ-based Advaxis (NASDAQ: [[ticker:ADXS]]) to license to Sellas its technology for … Continue reading “Advaxis Inks Deal with Sellas to Develop New Cancer Immunotherapy”
At Arrakis, Gilman Teams With Biogen Vets to Target RNA With Pills
A year after selling his latest biotech startup—the second since 2012—Michael Gilman is back. He emerged today as chairman and CEO of a two-year-old startup named Arrakis Therapeutics, which aims to use chemical drugs to go after an unlikely target: RNA, the molecules that turn our genetic blueprints into proteins. Named after the dangerous desert … Continue reading “At Arrakis, Gilman Teams With Biogen Vets to Target RNA With Pills”
Seattle Week in Review: Upzone, Apple, Washington Resistance, & More
This week, a welcome sign of spring: the first crocuses poked out of the ground near here. More construction is sure to follow. The U District upzone was approved, making way for more development near the University of Washington. Apple made a donation to UW, and revealed Seattle expansion plans. More on those stories below, … Continue reading “Seattle Week in Review: Upzone, Apple, Washington Resistance, & More”
BioCrossroads Report: Steady Growth for Life Sciences in Indiana
BioCrossroads, a public-private collaboration that supports Indiana’s life sciences industry, released a report this week highlighting the sector’s economic activity in 2016—and the numbers indicate steady, incremental growth, says project director Brian Stemme. BioCrossroads’ most recently available data show the economic impact of Indiana’s life sciences industry—comprised of companies focused on pharmaceuticals; medical devices and … Continue reading “BioCrossroads Report: Steady Growth for Life Sciences in Indiana”
Xenex Gets $38M From Essex Woodlands, Others for Germ-Zapping Robots
San Antonio — Xenex Disinfection Services, the maker of a robot that rids hospital rooms of tiny bacteria and viruses that can potentially cause deadly infections, has raised $38 million of venture funding to hire new salespeople and spend more on research and development. Xenex’s technology, called LightStrike Germ-Zapping Robots, uses an inert gas, pulsed … Continue reading “Xenex Gets $38M From Essex Woodlands, Others for Germ-Zapping Robots”
Cempra Soars on Drug’s Potential to Treat MRSA, Other Infections
Two months after the FDA rejected Cempra’s lead drug, a different antibiotic from the drug developer is now showing promise as a potential treatment for aggressive skin infections such as MRSA. Chapel Hill, NC-based Cempra (NASDAQ: [[ticker:CEMP]]) said that early data from a Phase 3 clinical trial evaluating its fusidic acid pills showed that the … Continue reading “Cempra Soars on Drug’s Potential to Treat MRSA, Other Infections”
Trump Policies, Paperwork, & More: Advice for Startup Founders
If you are the founder of a fledgling business, there are many things that are under your control, but also some that are not. For instance, entrepreneurs working to develop tools to help hospitals get reimbursed for providing care have likely monitored political news more closely since November. One of the reasons is that following … Continue reading “Trump Policies, Paperwork, & More: Advice for Startup Founders”
To Spin Out of Rackspace Means New Life and, In One Case, Mark Cuban
San Antonio—It’s getting hard to keep track of the number of new startups that have spun out of Rackspace to make a go of it as private companies in the city’s downtown tech corridor, from Mailgun earlier this week and HelpSocial in 2014, to many others in the years between. But HelpSocial, which provides software … Continue reading “To Spin Out of Rackspace Means New Life and, In One Case, Mark Cuban”
Bio Roundup: Trump Backlash, Verdine Plans, Sarepta Sale & More
A short week makes for a shorter roundup. As we’ve come to expect, however, there was no dearth of health and life-sciences news from Washington, D.C. A bipartisan group of Congress members who oversee health policy countered President Donald Trump’s encouragement of vaccine skeptics; the real test will be the upcoming budget’s funding of Centers … Continue reading “Bio Roundup: Trump Backlash, Verdine Plans, Sarepta Sale & More”
Boston Tech Watch: Amazon Expansion, Neurotech Acquisition & More
This week in Boston tech, we’re catching up on the latest real estate deals—including Amazon’s new digs, funding and acquisition news, and people on the move. Read on for details. Office Space —Let’s start with new office deals. The biggest one: Amazon is expanding to Boston’s Back Bay neighborhood, leasing space at WeWork’s new coworking … Continue reading “Boston Tech Watch: Amazon Expansion, Neurotech Acquisition & More”
Cascadia Innovation Corridor Starts With UW-UBC Urban Data Co-op
The University of Washington and the University of British Columbia will use a $1 million gift from Microsoft to collaborate on data-driven solutions to urban challenges, giving shape to the cross-border Cascadia Innovation Corridor that business, civic, and education leaders envisioned last fall. The effort to strengthen ties between the U.S. Northwest and British Columbia, … Continue reading “Cascadia Innovation Corridor Starts With UW-UBC Urban Data Co-op”
UT’s Lynda Chin Responds to Flap Over MD Anderson and Watson Project
Houston—A University of Texas System audit criticizing the administration of a $62 million partnership between MD Anderson Cancer Center and IBM Watson does not necessarily mean an end to the effort to treat cancer using artificial intelligence tools at the medical institution. That’s according to the researcher who led the project at MD Anderson, as … Continue reading “UT’s Lynda Chin Responds to Flap Over MD Anderson and Watson Project”
Clinc Raises $6.3M Series A to Help Take Financial A.I. to Market
Clinc, an artificial intelligence startup spun out of the University of Michigan, announced this week that it has raised a Series A round worth $6.3 million, just six months after closing on a $1.2 million seed round. The new round was led by Drive Capital, with contributions from Hyde Park Venture Partners, Ann Arbor, MI-based … Continue reading “Clinc Raises $6.3M Series A to Help Take Financial A.I. to Market”
Insurance Marketplace EverQuote Gets $13M More as Growth Accelerates
Fast-growing online insurance marketplace EverQuote has tacked on $13 million to its previously announced Series B funding round, bringing the total amount to $36 million. The additional money comes from new investor Second Alpha and earlier backer Stratim Capital, a spokesman said in an e-mail to Xconomy. The funding update was included in a press … Continue reading “Insurance Marketplace EverQuote Gets $13M More as Growth Accelerates”
Shares in Exact Sciences Rise on Better-Than-Expected P&L Results
Exact Sciences nearly quadrupled its advertising spending in 2016 as it sought to build a customer base for its flagship product. The television ad blitz seemed to work, said leaders at the company earlier this week, when Exact reported fourth-quarter earnings. The company’s profit-and-loss results came in above many analysts’ estimates, sending its stock to … Continue reading “Shares in Exact Sciences Rise on Better-Than-Expected P&L Results”
Bowery Bags $7.5M to Break Into Fast-Growing Indoor Farming Market
[Updated 2/23/2017 11:21 am] City real estate comes with premium prices, so the best way for developers to get the most out of limited space is by building skyward. The same approach holds true in urban agriculture. As vertical farms catch on in more cities, new agtech startup Bowery is entering the market backed by … Continue reading “Bowery Bags $7.5M to Break Into Fast-Growing Indoor Farming Market”
Harvard’s Verdine Aims to Retire, Become Full-Time FogPharma CEO
Harvard University chemical biologist Greg Verdine has been learning how to start and run biotech companies for almost two decades. He’s been a scientific co-founder of ten startups, worked at three different healthcare-focused venture capital firms, and even run a few biotechs in their early days before handing them off to more seasoned life sciences … Continue reading “Harvard’s Verdine Aims to Retire, Become Full-Time FogPharma CEO”
Seventh Sense Gets Initial FDA Clearance for Simple Blood-Draw Device
[Corrected 2/23/17, 12:44 pm. See below.] Seventh Sense Biosystems says it has received FDA clearance to begin marketing TAP, a device intended to make blood draws quick and painless. It’s the Medford, MA-based company’s first product approved for sale by the federal agency. Seventh Sense says its small, disposable devices can make blood collection more convenient … Continue reading “Seventh Sense Gets Initial FDA Clearance for Simple Blood-Draw Device”
Accenture Opens First of 10 Innovation Centers in Houston
Houston—The city of Houston boasts a healthy supply of young educated workers and an abundance of private wealth, but its corporate ecosystem and risk aversion toward tech startups prevents its innovation community from realizing its full potential. That’s according to a new report by the consulting firm Accenture, which also announced on Wednesday the opening … Continue reading “Accenture Opens First of 10 Innovation Centers in Houston”
Seeking Talent, Levementum Plans Indy Expansion to The Union
In 2005, Arizona-based digital marketing firm Levementum was conceived over drinks in Paris. The company officially launched the following year, and today, it announced plans to continue its growth trajectory in Indiana one year after opening an office in Indianapolis. At an event with Gov. Eric Holcomb and Indianapolis mayor Joe Hogsett this afternoon, Levementum … Continue reading “Seeking Talent, Levementum Plans Indy Expansion to The Union”
Rackspace Spinout Mailgun Raises $50M for API-Focused E-mail Service
San Antonio—For businesses sending out thousands or millions of receipts and marketing materials over e-mail to customers every year, there’s plenty to monitor. You have make sure those e-mails are delivered, that they stand out among the spam (or aren’t mistaken for it), that any customer replies go to the right employees, and that any … Continue reading “Rackspace Spinout Mailgun Raises $50M for API-Focused E-mail Service”
Voysis Nabs $8M, Adds to Boston’s Growing Voice Tech Cluster
The disembodied voices are coming. You probably know Siri, Alexa, and Cortana, but in the not-so-distant future every company and brand could have its own virtual assistant that you can talk to. A startup called Voysis wants to help make that happen, and now the Dublin-based company has a lot more cash to advance its … Continue reading “Voysis Nabs $8M, Adds to Boston’s Growing Voice Tech Cluster”
Sexual Harassment Claims Add to Turbulent Times for Uber
For the second time in less than a month, Uber CEO Travis Kalanick found himself fending off critical questions from his own employees at a Tuesday company-wide meeting. The last time, Kalanick was trying to justify remaining on President Trump’s economic advisory council after Trump issued a sudden travel ban against refugees and people from … Continue reading “Sexual Harassment Claims Add to Turbulent Times for Uber”
Aiming At P53, Cancer’s Hard Target, PMV Pharma Raises $74M
PMV Pharmaceuticals is the latest startup to load up with cash in an attempt to home in on one of the toughest targets in cancer biology: the tumor suppressor protein known as p53. The company, headquartered in Cranbury, NJ, disclosed this morning that it has raised a $74 million Series B round from Topspin Biotech … Continue reading “Aiming At P53, Cancer’s Hard Target, PMV Pharma Raises $74M”
Amazon, Uber, and Bill Gates’s Robot Tax: An Automation Snapshot
As we gear up for Robo Madness 2017: A.I. Gets Real, our annual robotics and artificial intelligence conference at Google’s offices in Kendall Square, let’s connect a few dots around the topic of automation. In just the past day or two: —Uber has started testing self-driving cars in Tempe, AZ, after having its tests banned … Continue reading “Amazon, Uber, and Bill Gates’s Robot Tax: An Automation Snapshot”
Argos Shares Crater on Futility Finding for Kidney Cancer Therapy
An Argos Therapeutics therapy that uses the immune system to fight kidney cancer has hit a wall after an analysis of the latest clinical trial data found that the experimental treatment was unlikely to work. Following the planned interim analysis of Argos’s (NASDAQ: [[ticker:ARGS]]) Phase 3 clinical trial, the independent data monitoring committee recommended stopping … Continue reading “Argos Shares Crater on Futility Finding for Kidney Cancer Therapy”
Epic Launches App Orchard to Create ‘Easier Developer Experience’
Epic Systems, which sells software for managing health records that is used to care for 190 million patients around the world, has introduced a new program that the company says will help outside healthcare software developers integrate their digital tools with Epic’s. The program, called App Orchard, aims to make it simpler for developers to … Continue reading “Epic Launches App Orchard to Create ‘Easier Developer Experience’”
Murray Asks Businesses to Help Homeless as Seattle Opposes Trump
Washington state’s emergence as a capital of resistance to the Trump administration has been abetted by many prominent tech companies. Now Seattle Mayor Ed Murray is asking companies based in the Northwest’s largest innovation hub to do more to address issues such as homelessness—helping fill a void left by an adversarial federal government that Murray … Continue reading “Murray Asks Businesses to Help Homeless as Seattle Opposes Trump”
Genomenon’s Software Seeks to Give Geneticists Faster Insights
Genomenon, a University of Michigan spinout developing analytics and data visualization software for the genomics industry, released its first product last week: software designed to simplify the process of interpreting gene variants. Called Mastermind, the software is a tool that automatically combs through millions of journal articles and medical publications; its goal is to drastically … Continue reading “Genomenon’s Software Seeks to Give Geneticists Faster Insights”
Cidara Antifungal Flunks in Phase 2 Clinical Trial, Sinking Shares
Cidara Therapeutics is halting work on an experimental topical antifungal drug designed to treat vaginal yeast infections after the compound wasn’t better than the current standard of care in a Phase 2 clinical trial. San Diego-based Cidara (NASDAQ: [[ticker:CDTX]]) said in a statement on Tuesday it will now shift its resources to other compounds in … Continue reading “Cidara Antifungal Flunks in Phase 2 Clinical Trial, Sinking Shares”
Texas Roundup: Joseph Kopser, Data Refuge, TMC, uShip, EO2 Concepts
Let’s catch up with the latest innovation news from Xconomy Texas. —We have “Five Questions For” Joseph Kopser, an ex-Army officer and West Point professor who found a new mission as a transportation evangelist of sorts when he founded RideScout, an app that aggregated different modes of transportation. With the sale of his company to … Continue reading “Texas Roundup: Joseph Kopser, Data Refuge, TMC, uShip, EO2 Concepts”