Seattle Genetics’ work to develop a drug to treat a form of leukemia has hit a roadblock following the deaths of four patients in clinical trials. The FDA placed a clinical hold or partial holds on three early-stage trials evaluating the Bothell, WA-based company’s experimental drug vadastuximab talirine. Shares of SeaGen (NASDAQ: [[ticker:SGEN]]) tumbled more … Continue reading “Liver Damage, Patient Deaths Lead FDA to Halt SeaGen Leukemia Trials”
Category: National
East Coast Silicon Valley
“You never change things by fighting the existing reality. To change something, build a new model that makes the existing model obsolete.” – R. Buckminster Fuller Reinvention A few months ago I was talking to executives in charge of innovation at a large U.S. bank. “Our biggest problem is that we look at all this new … Continue reading “East Coast Silicon Valley”
Immigration Restrictions, Lack of Healthcare Could Imperil Innovation
It’s hard to predict what effect the new administration will have, since we have very little information on any concrete policies they plan to enact. We do know a few things—namely, they are anti-Obamacare and anti-immigration. Decreasing the number of visas granted to highly skilled workers (a likely possibility given Steve Bannon’s comments on Silicon … Continue reading “Immigration Restrictions, Lack of Healthcare Could Imperil Innovation”
Top Stories of 2016 for Xconomy Boston: Editor’s Picks
You heard me. Here are my picks for our local stories of the year in technology, life sciences, and business innovation: 1. Xerox CTO Sophie Vandebroek Steps Down, With Eyes on Boston 2. Smack Might Be the Future of Social Apps, But I’m Not Cool Enough 3. In Year of CAR-T Trouble, Can Bluebird, Penn … Continue reading “Top Stories of 2016 for Xconomy Boston: Editor’s Picks”
Ionis, Biogen Make History With FDA Nod for Spine Disease Drug
Patients with spinal muscular atrophy got an early Christmas present on Friday. The FDA approved nusinersen (Spinraza), making the drug the first-ever marketed treatment for the rare, potentially deadly genetic disorder. Nusinersen is an injectable drug developed by Ionis Pharmaceuticals (NASDAQ: [[ticker:IONS]]) and partner Biogen (NASDAQ: [[ticker:BIIB]]), and is meant to slow the progression of … Continue reading “Ionis, Biogen Make History With FDA Nod for Spine Disease Drug”
Ann Arbor’s MySwimPro Named Apple Watch App of the Year
As we head into the holiday weekend, it’s always nice to share happy local startup news—especially during a year as tumultuous as 2016: Apple has chosen Ann Arbor, MI-based MySwimPro as the year’s top Apple Watch app. “We definitely weren’t expecting to win anything like that,” says CEO Fares Ksebati. “When you’re trying to build a … Continue reading “Ann Arbor’s MySwimPro Named Apple Watch App of the Year”
Texas Roundup: “1st & Future,” “Pink Tank” Pitch Contests, & More
As we approach Santa’s annual visit—are your milk and cookies ready?—let’s get caught up with the latest innovation news from Xconomy Texas: —The National Football League has teamed up with the Texas Medical Center to sponsor the 1st & Future startup pitch competition Feb. 4, the day before the Super Bowl takes place in Houston. … Continue reading “Texas Roundup: “1st & Future,” “Pink Tank” Pitch Contests, & More”
Bio Roundup: Crazy ’16, Trials of ’17, Senate on Drugs & More
You’ve probably seen the Internet memes. “When 2016 started, I looked like this. [Insert picture of young Leo DiCaprio.] Now I look like this. [Leo, with mountain beard, after mud-wrestling with a grizzly in The Revenant.]” In life science terms, let’s just say all our telomeres feel a lot shorter than 12 months ago. The … Continue reading “Bio Roundup: Crazy ’16, Trials of ’17, Senate on Drugs & More”
VC Sizes Up Google As Consumer Electronics Challenger To Apple Et Al.
It’s the end of the year, and everyone’s getting out their crystal balls. At the Silicon Valley venture capital firm NEA, partner Greg Papadopoulos has a prediction about Google. But it’s so positive that he makes a joking disclaimer at the beginning of our conversation. “I’m not a Google fan boy,” Papadopoulos insists. A veteran … Continue reading “VC Sizes Up Google As Consumer Electronics Challenger To Apple Et Al.”
Mimir Aims to Streamline Computer Science Instruction, Tech Hiring
When Prahasith Veluvolu and a couple of buddies from Park Tudor High School matriculated at Purdue University three years ago, they decided to shut down the Web consulting business they had been running out of their childhood bedrooms. Ending their consulting gig wasn’t enough to banish the startup bug, however, so Veluvolu and his friends—Jacobi … Continue reading “Mimir Aims to Streamline Computer Science Instruction, Tech Hiring”
The Price of Growth: Founders’ Dilution
Founders of a company considering the various available fundraising options often ask the challenging question: Why take venture capital money, which may significantly dilute the founders and might result in a loss of control of the company? Although the venture capital path is always a possibility, founders are often concerned about the consequences of such … Continue reading “The Price of Growth: Founders’ Dilution”
Mary Kay Creates “Pink Tank” Pitch Event for Women Founders With DEC
Dallas—Women in Texas interested in founding a business now have a female entrepreneurial icon offering them support: Mary Kay. The company is partnering with the Dallas Entrepreneur Center to host a one-day “Women’s Entrepreneurs Summit” on Jan. 27 to offer guidance to female entrepreneurs interested in fashion, tech, consumer-packaged goods, and business services. In particular, … Continue reading “Mary Kay Creates “Pink Tank” Pitch Event for Women Founders With DEC”
14 for ’17: Key Clinical Data To Watch For Next Year (Part 2)
We continue our look ahead to some of the clinical data due in 2017 that could shape healthcare practice and sway investor sentiment for years to come. Part one of our preview is here, with looks at key studies in lung cancer, Alzheimer’s disease, asthma, and more. In part two, we examine studies in leukemia, … Continue reading “14 for ’17: Key Clinical Data To Watch For Next Year (Part 2)”
Despite FDA Delay, Advocates Hopeful for New Genentech MS Drug
Of the 15 FDA-approved therapies for multiple sclerosis, none work on a rare form of the disorder that leads to a steady and sometimes rapid decline. Genentech is awaiting FDA action on its experimental drug for this “primary progressive” form of the disease, and a new study published today may strengthen its case for approval. … Continue reading “Despite FDA Delay, Advocates Hopeful for New Genentech MS Drug”
Amazon, Stryker to Expand and Add Over 1,000 Jobs Combined in Michigan
There was a time not so long ago in Michigan when economic development agencies began to move away from the grand corporate expansion press conferences that were a hallmark of Gov. Jennifer Granholm’s administration. Instead, smaller and more low-key announcements that didn’t appear to always favor big manufacturers or pet industries—a common criticism lobbed at … Continue reading “Amazon, Stryker to Expand and Add Over 1,000 Jobs Combined in Michigan”
14 For ’17: Key Clinical Data to Watch For Next Year (Part 1)
[Updated, 4:28 pm ET, see below] After years of research, frustration, hype, and millions (sometimes hundreds of millions) of dollars invested, a drug program boils down to the clinical data—usually from big, late-stage studies—that can sometimes make or break a company. There were high profile successes in 2016. Biogen (NASDAQ: [[ticker:BIIB]]) and Ionis Pharmaceuticals (NASDAQ: … Continue reading “14 For ’17: Key Clinical Data to Watch For Next Year (Part 1)”
Benson Hill Bio Brings Power of Big Data to Small Plant Breeders
When farmers want crops that have a better shot at resisting disease or taking up nutrients, they use breeding techniques to develop new varieties. Crossing plants to create these varieties is an agricultural practice that dates back thousands of years. Breeding has since become more sophisticated, incorporating sophisticated screening technologies to find desirable traits. But … Continue reading “Benson Hill Bio Brings Power of Big Data to Small Plant Breeders”
Industry Needs Common Security Standards to Thwart IoT Attacks
A silver lining has emerged in the wake of the massive and well-publicized denial-of-service attack launched less than two months ago by hackers using millions of IoT devices to cripple the websites of major companies like Amazon, Netflix and Twitter. This ambush has triggered a redoubling of efforts to focus on the need for industry-led … Continue reading “Industry Needs Common Security Standards to Thwart IoT Attacks”
Acelity Sells LifeCell Tissue Repair Unit to Allergan for $2.9B
San Antonio — Acelity, the San Antonio maker of wound healing technologies and tissue repair products, has sold one of its business units called LifeCell to Dublin-based biopharmaceutical company Allergan for $2.9 billion. The sale of Acelity’s so-called regenerative medicine division, LifeCell, is an attempt by the company to focus its business on its core wound … Continue reading “Acelity Sells LifeCell Tissue Repair Unit to Allergan for $2.9B”
Open Doors to Opportunity for Washington’s Future STEM Leaders
It’s no secret our region is a hotbed for innovation, leading corporations, and a growing startup community. As a state, we’ve undergone massive changes in recent years, becoming a thriving tech hub that is now the nation’s per-capita leader in science, technology, engineering, and math (STEM) employment (PDF) . But as demand for STEM workers … Continue reading “Open Doors to Opportunity for Washington’s Future STEM Leaders”
Acadia Drug Shows Early Promise in Treating Alzheimer’s Psychosis
An Acadia Pharmaceuticals drug developed to treat hallucinations and delusions experienced by Parkinson’s disease patients is now showing signs it could also treat similar psychoses associated with Alzheimer’s disease. San Diego-based Acadia (NASDAQ: [[ticker:ACAD]]) reported that patients treated in an exploratory study with its drug pimavanserin showed a statistically significant reduction in psychosis compared against … Continue reading “Acadia Drug Shows Early Promise in Treating Alzheimer’s Psychosis”
CytoBiosciences Buys Alabama Company in ‘Multi-Million Dollar’ Deal
San Antonio — CytoBioscience, a San Antonio maker of technology that’s used to screen drug formulations, has acquired Birmingham, Alabama-based Soluble Therapeutics, which sells another screening technology. CytoBiosciences has a high-throughput device to screen a drug formulation’s safety and efficacy, helping scientists observe how multiple formulations might interact with a cell’s ion channel. Meanwhile, Soluble’s … Continue reading “CytoBiosciences Buys Alabama Company in ‘Multi-Million Dollar’ Deal”
Akebia Gets $265M From Otsuka to Bankroll Anemia Drug Push
Akebia Therapeutics is in a high-stakes race with rival Fibrogen to treat anemia with a pill, not an injectable biologic. And it just got a bunch of cash to try to get to the clinical finish line. In a deal announced this morning, Japan’s Otsuka Pharmaceutical will commit $265 million to Cambridge, MA-based Akebia (NASDAQ: … Continue reading “Akebia Gets $265M From Otsuka to Bankroll Anemia Drug Push”
What Is Causing Startups to Go Bankrupt?
Many startups have a great product that’s viable, marketable, and ripe with potential. But if that was the only indicator of success, then nine out of 10 startups wouldn’t fail. The annals of startup history wouldn’t be littered with instances of companies like Friendster or Color that had fantastic products, but eventually sank. The truth … Continue reading “What Is Causing Startups to Go Bankrupt?”
7 Ways to Secure Your Connected Devices Against Hackers
’Tis the season for giving gifts. And increasingly, those shiny new toys and gadgets can be connected to the Internet—from TVs to watches, speakers to Barbie dolls. That Internet connection opens up a ton of possibilities for how we can use and enjoy our new devices. (“Alexa, play my Christmas playlist on Spotify, and also … Continue reading “7 Ways to Secure Your Connected Devices Against Hackers”
Biogen Promotes Vounatsos to CEO, Capping Scangos’s 6-Year Run
Biogen didn’t go far to find its new CEO. The company promoted chief commercial officer Michel Vounatsos to the top spot on Monday, succeeding former chief executive George Scangos. When Scangos announced this summer that he would step down from Biogen (NASDAQ: [[ticker:BIIB]]), the Cambridge, MA-based biotech said it would consider both internal and external … Continue reading “Biogen Promotes Vounatsos to CEO, Capping Scangos’s 6-Year Run”
As Its Rivals Team Up, Editas Buys Next-Gen CRISPR From Old Friends
[Updated 12/19/16, 5:33 p.m. ET. See below.] The two sides fighting over ownership of the landmark gene editing technology CRISPR-Cas9 are waiting for a decision from a panel of U.S. patent judges that could come early in the new year. Meanwhile, each side continues to make chess moves with their intellectual property. The latest move … Continue reading “As Its Rivals Team Up, Editas Buys Next-Gen CRISPR From Old Friends”
Lilly Endowment Awards $6M to Conexus Indiana for Workforce Programs
According to Conexus, Indiana is the most manufacturing-intensive state per capita in the nation, yet the emergence of new technologies continues to bring significant change to the industry. To help prepare young people for these shifts, Conexus, the state’s initiative to bolster advanced manufacturing and logistics, oversees educational and outreach programs supporting workforce development. Last … Continue reading “Lilly Endowment Awards $6M to Conexus Indiana for Workforce Programs”
Another Notch For “PARP” Blockers As FDA Approves Clovis Cancer Drug
Slowly but surely, a new group of drugs known as “PARP” inhibitors are starting to become fixtures in the regimens for women with ovarian cancer—and perhaps more. With the approval of a drug called rucaparib (Rubraca) from Clovis Oncology, two have now been approved since 2014—and a third, from Waltham, MA-based Tesaro (NASDAQ: [[ticker:TSRO]]), could … Continue reading “Another Notch For “PARP” Blockers As FDA Approves Clovis Cancer Drug”
Xerox CTO Sophie Vandebroek Steps Down, With Eyes on Boston
An era is coming to an end at Xerox. On New Year’s Eve, Xerox will separate into two independent public companies. Its famous printing and management services side will continue to be called Xerox Corporation. Its lesser-known but large business process outsourcing operation, which handles things like healthcare claims, E-ZPass transactions, and customer care, will … Continue reading “Xerox CTO Sophie Vandebroek Steps Down, With Eyes on Boston”
Creating Bio “Gestalt” And Photos From New York Life Sciences 2021
New York City Deputy Mayor Alicia Glen said it best: “It’s about creating what I call a ‘New York gestalt’ around life sciences.” Showing that New York biotech can rise above its problems, become greater than the sum of its currently disparate parts, and create a brand that ranks up there with Wall Street, the … Continue reading “Creating Bio “Gestalt” And Photos From New York Life Sciences 2021”
Starry Scoops Up $30M as Fixed Wireless Field Heats Up
Starry, a wireless broadband startup based in Boston and New York, has raised $30 million in new equity funding, according to a regulatory filing. The investors in the round weren’t named, but the company’s previous backers include KKR, IAC, Tiger Global, and other venture capitalists. The startup is led by CEO Chet Kanojia, the founder … Continue reading “Starry Scoops Up $30M as Fixed Wireless Field Heats Up”
Boston Tech Watch: Leonardo DiCaprio, MC10, OwnerIQ, BrainCo & More
With the holidays approaching, here is what’s been going on in the local technology scene: —San Francisco-based Cloudflare acquired Eager for an undisclosed price. The Cambridge, MA-based startup says its technology makes it easier for websites to install apps and software tools. Cloudflare offers Web performance and security products and services. You can read more … Continue reading “Boston Tech Watch: Leonardo DiCaprio, MC10, OwnerIQ, BrainCo & More”
Exact Sciences, Fiserv, OneEvent, & More: This Week’s WI Watchlist
Stay out of the snow, and in the know, with these recent headlines from Wisconsin’s innovation community. —Madison-based Exact Sciences (NASDAQ: [[ticker:EXAS]]) said that Cologuard, the company’s stool-based DNA test for colorectal cancer, will be covered as an in-network service for members of the Louisville, KY-based health insurer Humana (NYSE: [[ticker:HUM]]), effective Jan. 1. Cologuard … Continue reading “Exact Sciences, Fiserv, OneEvent, & More: This Week’s WI Watchlist”
Seattle Week in Review: Light Reading for the Darkest Day
As the darkest day of the year approaches—Winter Solstice is Dec. 21—we’re taking in some low-angle winter sun and catching up on a few news items from the past week. Check out new data on venture capital’s lack of diversity, a survey of diversity at Seattle startup companies, applied research funding for teams at Washington’s … Continue reading “Seattle Week in Review: Light Reading for the Darkest Day”
Nokia’s Acquisition of Deepfield a Big Win for Ann Arbor’s IT Industry
Finnish telecom giant Nokia today announced it has acquired Ann Arbor, MI-based Deepfield, an IP network performance management and security startup. The terms of the deal were not disclosed. Deepfield was co-founded in 2011 by Craig Labovitz, formerly the chief scientist at Arbor Networks, a Burlington, MA-based company that grew from being a DARPA-funded research project at … Continue reading “Nokia’s Acquisition of Deepfield a Big Win for Ann Arbor’s IT Industry”
Tour of Texas: SXSW Updates, Traxo, John Arnold, San Antonio Tech
Let’s get caught up with the latest innovation news from Xconomy Texas. —Organizers for the upcoming South By Southwest Interactive Festival are starting to make known some of this year’s new events. Namely, two days of programming named “Tech Under Trump” will take place March 15-16. “The goal of this programming is both to inform … Continue reading “Tour of Texas: SXSW Updates, Traxo, John Arnold, San Antonio Tech”
Arch Virtual Gives Madison Officials High-Tech Tour of StartingBlock
Last year, the yet-to-be-constructed entrepreneurial center StartingBlock Madison released renderings of the building it would occupy, helping to bring the project to life in the minds of many observers. Earlier this week, StartingBlock presented another preview of the space, this time with an added dimension—literally. At a meeting of Madison, WI’s municipal Plan Commission, whose … Continue reading “Arch Virtual Gives Madison Officials High-Tech Tour of StartingBlock”
Jungle Disk CEO: After Machines Learn, Hacking Methods Will Evolve
San Antonio—[Corrected 1/17/2017, 5:05 p.m. See below.] When people consider the potential downside of machine learning and artificial intelligence, it often leans toward the extreme: “The Terminator” or, perhaps, “The Matrix.” But other threats that may be less ominous are likely far more realistic. An example: A hacker could use an artificial intelligence tool, which … Continue reading “Jungle Disk CEO: After Machines Learn, Hacking Methods Will Evolve”
After Setback, Ophthotech Restructures, Dials Down Eye Drug Studies
Ophthotech’s attempt to change the standard of care for a common form of vision loss, age related macular degeneration, fell short earlier this week, sending shares spiraling downward and leaving the fate of the company and its lead drug, pegpleranib (Fovista), unclear. The company clarified two things today—its future will involve a much smaller workforce, … Continue reading “After Setback, Ophthotech Restructures, Dials Down Eye Drug Studies”
Bio Roundup: NY Rises, Prez Inks Cures, Ophthotech Crashes & More
The 21st Century Cures Act is now law. New York wants to play in the biotech big leagues. The FDA under Trump will have license to approve drugs faster and could have a former top official back on board as commissioner. An eye drug failed, an Alzheimer’s drug got scrutinized, and a new antibiotic passed … Continue reading “Bio Roundup: NY Rises, Prez Inks Cures, Ophthotech Crashes & More”
After FDA Hold, Agios Quickly Scraps One Anemia Drug, Turns to Another
Agios Pharmaceuticals has been developing two experimental drugs for anemia. For a couple of years, the company has said it would eventually move the better one forward and leave the other behind. As it turns out, the FDA has made the decision an easy one. Agios (NASDAQ: [[ticker:AGIO]]) said this afternoon it has scrapped AG-519, … Continue reading “After FDA Hold, Agios Quickly Scraps One Anemia Drug, Turns to Another”
BidPal Raises $6M to Support Growth, Hiring, and Product Development
Indianapolis-based BidPal, a startup focused on mobile bidding and fundraising software for nonprofits, announced this week that is has raised new capital: $3.5 million in new cash from returning investors MK Capital and Allos Ventures, and $2.5 million available to borrow at any time from Square 1 Bank in California. “All of it represents working … Continue reading “BidPal Raises $6M to Support Growth, Hiring, and Product Development”
Hopper Tracks Down $50M, Goes All In on Flight-Booking App
[Corrected 12/15/16, 6:24 pm. See below.] Hopper, the maker of an app that helps consumers find and book cheap flights, could become the Boston area’s next big travel technology company. It’s certainly one of the better-funded ones, thanks to a major investment announced today. In a press release, Hopper said it has raised $82 million … Continue reading “Hopper Tracks Down $50M, Goes All In on Flight-Booking App”
Flagship Pioneers New Name, $285M ‘Special Opportunities’ Fund
Flagship Ventures is changing its name and unveiling a new $285 million side fund that will pump more money into the firm’s portfolio companies when they are ready to rapidly grow. The follow-on fund from the newly christened Flagship Pioneering will seek investment opportunities characterized by an “explosive platform with many different applications,” says Noubar … Continue reading “Flagship Pioneers New Name, $285M ‘Special Opportunities’ Fund”
Panel: Healthcare Innovation Has Lagged, But Future Could Be Bright
“Healthcare stinks at innovation, period.” That statement, from Frank Byrne—formerly president of St. Mary’s Hospital in Madison, WI, and now an advisor to the healthtech-focused VC group HealthX Ventures—was probably the most provocative one made during a panel discussion on healthcare and potentially transformative technologies held on Thursday in Madison. The forum was part of WTN Media’s … Continue reading “Panel: Healthcare Innovation Has Lagged, But Future Could Be Bright”
Xconomy Intersect: The Photos
Xconomy’s wide-angle look at Northwest innovation last week brought attendees the latest in real-time machine transcription, analysis of the policy implications for innovation in a Trump administration, in-depth talks with top investors and entrepreneurs, and much more. The hearty folks who made it to 415 Westlake—located in the heart of South Lake Union, Seattle’s innovation … Continue reading “Xconomy Intersect: The Photos”
Callida Energy, RideHop Win NextEnergy’s Smart Cities Challenge
As autonomous technologies, the Internet of Things, and big data begin to shape the way we interact with the world around us, we’ll have more technological tools to tackle challenges related to safety, mobility, emissions, accessibility, and congestion. Last week, those tools were on display as part of Detroit nonprofit NextEnergy‘s 2016 Smart Cities competition … Continue reading “Callida Energy, RideHop Win NextEnergy’s Smart Cities Challenge”
New SXSW Interactive Event To Focus On Nexus Of Cancer And Tech
Austin—South By Southwest Interactive is adding another healthcare-related event, reflecting a growing emphasis on the intersection between technology and the life sciences. The “Connect to End Cancer” event is a joint project between the University of Texas MD Anderson Cancer Center and the AT&T Foundry for Connected Health, both based in Houston. Organizers are scouting … Continue reading “New SXSW Interactive Event To Focus On Nexus Of Cancer And Tech”
Hexadite Teams With Carbon Black & Others to Automate Cybersecurity
A new alliance between cybersecurity companies from across the U.S. aims to more tightly integrate their products and advance efforts to automate key security processes. The initiative—dubbed the Automated Security Alliance Program, or ASAP—is led by a Boston-based startup, Hexadite. Its initial group of partners includes some big names in the cybersecurity world: Carbon Black, … Continue reading “Hexadite Teams With Carbon Black & Others to Automate Cybersecurity”