Category: National

Glowforge Raises $22M to Grow Laser Cutter Business

Glowforge, the Seattle company that raked in $27.9 million in pre-orders for its consumer-grade laser cutter and engraver, has raised $22 million in venture capital. The Series B investment, announced Monday, was led by Foundry Group and True Ventures, co-leaders of the company’s $9 million Series A funding round in May 2015. Glowforge is taking … Continue reading “Glowforge Raises $22M to Grow Laser Cutter Business”

Houston’s Pageboy App Brings the Beauty Salon to Your Home

Houston—Picture a beauty salon—or barbershop, for you guys. It’s one of the least digitized environments in our lives. And that’s the most challenging aspect of promoting a beauty app, says Libby Cagle, co-founder of Pageboy. “It has been interesting to train customers to use the app to cancel appointments through the app,” instead of calling, … Continue reading “Houston’s Pageboy App Brings the Beauty Salon to Your Home”

Pfizer Continues Gene Therapy Push With $150M Bamboo Buyout

Pfizer is bolstering its growing gene therapy portfolio with a $150 million acquisition of Bamboo Therapeutics, the latest startup based on the research of one of the field’s pioneers, University of North Carolina Gene Therapy Center director Jude Samulski. Pfizer (NYSE: [[ticker:PFE]]) initially signaled its interest in Bamboo’s work in the first quarter, when it … Continue reading “Pfizer Continues Gene Therapy Push With $150M Bamboo Buyout”

Massachusetts Passes Uber Bill; Noncompete & Airbnb Proposals Fail

In a frenetic end to the Massachusetts legislative session, state lawmakers worked throughout the weekend and past a midnight deadline Sunday to send several bills to Gov. Charlie Baker’s desk. But for three proposals with implications for the state’s tech sector, inaction mostly ruled. House and Senate lawmakers couldn’t agree on a compromise to iron … Continue reading “Massachusetts Passes Uber Bill; Noncompete & Airbnb Proposals Fail”

Biogen Buys Ionis Spine Disease Drug For $75M, Eyes FDA Filing

Spinal muscular atrophy affects over 25,000 people in the U.S. and stops many of them from ever being able to walk. Yet scientists’ understanding of the underlying genetic cause of SMA is fairly recent, which is why drugs for the disease are only now progressing through the pipelines of biotech and pharma companies. The most … Continue reading “Biogen Buys Ionis Spine Disease Drug For $75M, Eyes FDA Filing”

Ford, MIT Partner on Mobility Project to Predict Pedestrian Traffic

A new research collaboration between Ford and MIT studies how pedestrians move in densely populated areas in order to improve transportation such as point-to-point shuttle services—and the data will also help Ford beef up its autonomous and driver-assist technologies. The MIT project is designed to enhance models that predict demand for mobility-on-demand services, such as … Continue reading “Ford, MIT Partner on Mobility Project to Predict Pedestrian Traffic”

Indiana University Plans Alumni Venture Fund, Taps Partnerships

Tony Armstrong recognizes the importance of forging alliances. It’s a core part of his job as the president and CEO of Indiana University’s Research and Technology Corporation—the university’s tech transfer arm—and as the assistant vice president in the Office of the Vice President for Engagement. Armstrong says partnerships are especially key to advancing innovation and … Continue reading “Indiana University Plans Alumni Venture Fund, Taps Partnerships”

Gaining an Edge: Understanding Cyber Risk Appetite

Not long ago, companies prepared for cyber risks the way they might for a hurricane, flood, or other disaster situation: Brace for the worst, and hope for the best. Those days are over. Security breaches across industries have put cyber squarely on everybody’s risk agenda. But while they’re taking cyber threats seriously, many companies are … Continue reading “Gaining an Edge: Understanding Cyber Risk Appetite”

Talend Raises $95M in IPO: A Boost For Others Waiting in the Wings?

The pricing of data integration company Talend’s IPO shares late Thursday, and its instant jump in trading Friday, delivered a booster shot for the optimism following fellow Silicon Valley company Twilio’s successful market debut last month. Talend sold 5.25 million shares at $18 apiece, above its anticipated range of $15 to $17, to raise $95 … Continue reading “Talend Raises $95M in IPO: A Boost For Others Waiting in the Wings?”

Seattle Week in Review: Watching History at the DNC, and Dick’s Drive-In

It was an historic week, and, with the end of the two major parties’ conventions, perhaps time for a summer break from politics? (Not likely.) We’re reviewing a few tech-related highlights of Hillary Clinton’s acceptance speech, as well as local tech news from Washington State University, which is expanding computer science programs; a new role … Continue reading “Seattle Week in Review: Watching History at the DNC, and Dick’s Drive-In”

Health IT Startup Cariloop Creates Community for Elder Caregivers

Dallas—It’s a fundamental lesson for entrepreneurs: Sometimes your expectations for your product and its market don’t work out. “We had our sets of assumptions as far as what’s going to happen,” says Michael Walsh, founder and CEO of Cariloop, a Dallas startup whose software helps manage the care of seniors. “And then when you get … Continue reading “Health IT Startup Cariloop Creates Community for Elder Caregivers”

Boston-Power Vets Take New Approach With Battery Startup Cadenza

Christina Lampe-Onnerud has found it much easier to get a foot in the door with partners and potential customers for her second lithium-ion battery startup, Cadenza Innovation, than for her first, Boston-Power. Maybe that’s because the advanced battery market has matured since she started Boston-Power in 2005. The industry has grown to about 100 lithium-ion … Continue reading “Boston-Power Vets Take New Approach With Battery Startup Cadenza”

Biotech Roundup: Gilead Slump, Celgene Goes Trump, Hemo Data & More

Quarterly biopharma earnings added a little heat to the already high summer temperatures. Amongst several companies to report this week, the biggest news came from Gilead Sciences (NASDAQ: [[ticker:GILD]]), whose hepatitis C drugs have become some of the top revenue producers in the industry. But the company said this week that sales of Sovaldi and … Continue reading “Biotech Roundup: Gilead Slump, Celgene Goes Trump, Hemo Data & More”

In a Microbiome Setback, Seres Drug Fails in Phase 2, Shares Crushed

Seres Therapeutics raised $134 million in an IPO and made history in the process, becoming the first drug developer targeting the microbiome to go public in the U.S. But disappointing news from the Cambridge, MA, company today shows just how much we have yet to understand about the relationship between trillions of bacteria that colonize … Continue reading “In a Microbiome Setback, Seres Drug Fails in Phase 2, Shares Crushed”

At Alzheimer’s Meeting, Firms Take Page From Silver Linings Playbook

The big drug news from the annual Alzheimer’s Association meeting this week involved companies that have found silver linings in otherwise gloomy data—a recurrent theme in Alzheimer’s clinical work. The trials are expensive, so companies are loathe to write them off completely, and the social urgency of finding new treatments encourages data analysis that is … Continue reading “At Alzheimer’s Meeting, Firms Take Page From Silver Linings Playbook”

Markable Downloads $1.9M For App That’s Like Shazam For Fashion

[Corrected 7/28/16 9:59 pm. See below.] Joy Tang knows models—both the algorithmic ones she helped develop while working in high-frequency stock trading for six years, and the human ones who grace magazine pages and strut along runways at fashion shows. Tang is the co-founder and CEO of Markable, a Madison, WI-based startup whose mobile app … Continue reading “Markable Downloads $1.9M For App That’s Like Shazam For Fashion”

Allegis Capital Leader Co-Founds DataTribe To Tap Government Research

In 2015, Silicon Valley venture firm founder Robert Ackerman was helping the founders of Maryland startup Onyara to prepare for a fundraising round that would allow them to mine the commercial potential of advanced data processing technology developed at the National Security Agency. “I just found my next billion-dollar idea,” Ackerman says he was thinking … Continue reading “Allegis Capital Leader Co-Founds DataTribe To Tap Government Research”

Lawn Guru Closes $1M Round, Plans National Expansion

Lawn Guru, an app that allows users to connect with lawn care professionals and order services on demand, announced this week that it has closed a $1 million seed round. The round was led by Sierra Wasach Capital with participation from Canyon Creek Capital, Briggs and Stratton, and Sequoia Capital’s scout program. According to a … Continue reading “Lawn Guru Closes $1M Round, Plans National Expansion”

At Big Hemophilia Meeting, More Data, and Promise, For Gene Therapy

This week’s World Federation of Hemophilia World Congress in Orlando, FL, where researchers gathered to present the latest updates in treatments for the chronic bleeding disorder, marked the latest step in a journey that dates back more than two decades for one particular treatment: gene therapy. Gene therapy provides the potential of a long-term treatment … Continue reading “At Big Hemophilia Meeting, More Data, and Promise, For Gene Therapy”

After Zafgen Abandons Prader-Willi Drug, Could Rhythm Offer Hope?

An effective treatment for Prader-Willi Syndrome would mean more to Kate Kane than just being free of the insatiable hunger the disease causes. It could mean being able to do something as normal as hold a job—like her dream of being a veterinary technician. That dream has been already stamped out once. One of the … Continue reading “After Zafgen Abandons Prader-Willi Drug, Could Rhythm Offer Hope?”

How Richard Branson and Snoop Dogg Use Social Media Vs. Social Unrest

Last month, I spent a week on Necker Island, where Richard Branson and a bunch of entrepreneurs were discussing how we could help address political upheavals, intolerance, violence, social inequality, and other issues. It’s almost like we’re in a war right now. Nations are split in half. On one side you have citizens who want … Continue reading “How Richard Branson and Snoop Dogg Use Social Media Vs. Social Unrest”

Analog Devices Buys Linear for $14.8B as Boston Tech Plays Dealmaker

A lot of California tech companies have gobbled up Boston-area firms over the years, often leaving local advocates lamenting the loss of yet another headquarters or anchor tech company. On Tuesday it was the reverse. Boston-based LogMeIn (NASDAQ: [[ticker:LOGM]]) announced plans to scoop up its rival GoTo business from Santa Clara, CA-based Citrix Systems (NASDAQ: [[ticker:CTXS]]) … Continue reading “Analog Devices Buys Linear for $14.8B as Boston Tech Plays Dealmaker”

With $40M Bid, Pfizer Set to Buy, And Close, Bankrupt Bind Tx

[Updated, 2:30 p.m. ET, see below] It’s not uncommon for a biotech’s larger partner to make a buyout offer for its smaller counterpart. But unfortunately for Bind Therapeutics, that bid, from pharma giant Pfizer, means the company could be about to close down for good. Cambridge, MA-based Bind (NASDAQ: [[ticker:BIND]]) said that Pfizer (NYSE: [[ticker:PFE]]) … Continue reading “With $40M Bid, Pfizer Set to Buy, And Close, Bankrupt Bind Tx”

LabCorp Boosts Prenatal Testing Presence with $371M Sequenom Deal

LabCorp, already a giant in diagnostics and laboratory testing, is building its capabilities in prenatal testing with an agreement to acquire Sequenom in a $371 million deal. Under the tender offer, Burlington, NC-based LabCorp (NYSE: [[ticker:LH]]) will acquire all of the outstanding shares of Sequenom for $2.40 per share, for a total equity value of … Continue reading “LabCorp Boosts Prenatal Testing Presence with $371M Sequenom Deal”

For Cengage Exec, Detroit Collective Impact About Hope, Education

Ron Stefanski, Cengage Learning’s executive director of strategic alliances, grew up on the east side of Detroit on Tappan Street. Like many local families in the 1970s, his was swept up in the wave of suburban white flight that followed the 1967 riots—except for his grandmother, Vicki, a tough old bird he described as “Edith … Continue reading “For Cengage Exec, Detroit Collective Impact About Hope, Education”

Eli Lilly CEO Lechleiter to Retire After Eight-Year Stint

After eight years at the helm of Eli Lilly, a tenure characterized by a steadfast belief in home-grown research, rather than deals, John Lechleiter is retiring from the Indianapolis pharma giant. Lilly (NYSE: [[ticker:LLY]]) said this morning that Lechleiter, its chairman, president, and CEO, will retire at the end of the year. He’ll remain Lilly’s … Continue reading “Eli Lilly CEO Lechleiter to Retire After Eight-Year Stint”

Cytokinetics Gets $95M in First ALS Deal, Needs Results For More

South San Francisco, CA-based drug developer Cytokinetics stumbled two years ago, but a deal with Astellas Pharma could be a big step toward recovery. Astellas, of Tokyo, is paying Cytokinetics (NASDAQ: [[ticker:CYTK]]) $65 million for an option to the rights to its drug tirasemtiv in Japan, other Asian countries, the Middle East and Africa, and … Continue reading “Cytokinetics Gets $95M in First ALS Deal, Needs Results For More”

Ostendo Raising Funds to Advance Virtual Reality Display Technology

Ostendo Technologies, a Carlsbad, CA-based company founded in 2005 to advance curved screens and other innovative display technologies, has raised $41.8 million of a new financing round intended to bring in $62.8 million, according to a recent regulatory filing. The financing includes both new investment funding and a conversion of debt to equity, according to … Continue reading “Ostendo Raising Funds to Advance Virtual Reality Display Technology”

LogMeIn Grabs Citrix’s Rival Collaboration Tools in $1.8B Merger

LogMeIn plans to join forces with a division of rival Citrix Systems in a $1.8 billion deal aimed at creating a juggernaut in the world of cloud-based business software. For much of its 13-year history, Boston-based LogMeIn (NASDAQ: [[ticker:LOGM]]) has been best known for cloud software that allows employees and IT service providers to remotely … Continue reading “LogMeIn Grabs Citrix’s Rival Collaboration Tools in $1.8B Merger”

Kadmon Raises $75M In IPO Despite Friendly Terms For Its Lenders

Kadmon Holdings tempered its expectations and managed to go public late Wednesday, despite its founders’ criminal history and a heavy debt load. New York-based Kadmon raised $75 million by selling 6.25 million shares at $12 each. But to get there, it had to sell more shares at a lower price. It had initially aimed for … Continue reading “Kadmon Raises $75M In IPO Despite Friendly Terms For Its Lenders”

Austin Delivery Startup Dropoff Expands Beyond Texas to LA

Austin—Dropoff founder and CEO Sean Spector makes it a point to emphasize that the Austin, TX-based startup is a delivery service for businesses. “We are an extension of these businesses and their brands,” he says. “We deliver valuable medication, sensitive documents … parts for an airplane. These are these businesses’ everyday needs.” His insistence on … Continue reading “Austin Delivery Startup Dropoff Expands Beyond Texas to LA”

Shares in Exact Sciences Up After Company Beats Quarterly Projections

[Updated 7/26/16, 5:15 pm. See below.] Shares in Exact Sciences were up more than 28 percent on Tuesday after the company released second quarter financial results that handily beat analyst expectations. Madison, WI-based Exact (NASDAQ: [[ticker:EXAS]]), whose flagship product is a stool-based DNA test for colorectal cancer known as Cologuard, said it completed about 54,000 of the … Continue reading “Shares in Exact Sciences Up After Company Beats Quarterly Projections”

Clinton Versus Trump: Who’s Stronger on Innovation?

With the Republican National Convention behind us and the Democratic convention in full swing, it seems like a good moment to ask how a Donald Trump presidency or a Hillary Clinton presidency might affect the prospects for high-tech entrepreneurship and business growth in the United States. At this stage, both candidates have given major economic … Continue reading “Clinton Versus Trump: Who’s Stronger on Innovation?”

Tokai Pharma Shutters Prostate Cancer Drug Trial Early, Shares Crumble

Tokai Pharmaceuticals has been trying to play catch-up for years in the fast-moving field of prostate cancer treatments. But that plan just took a major hit this morning. Cambridge, MA-based Tokai (NASDAQ: [[ticker:TKAI]]) said that an independent data monitoring committee instructed the company to stop the big Phase 3 trial of its prospective prostate cancer … Continue reading “Tokai Pharma Shutters Prostate Cancer Drug Trial Early, Shares Crumble”

Volition Closes $250M Fund to Invest in Bootstrapped Businesses

Boston-based growth equity firm Volition Capital says it has raised a $250 million third fund, its largest to date. The firm is trying to carve out a niche by investing in small but established tech companies that have strong revenue growth and, ideally, have raised little to no outside capital. It’s a sign of increasing … Continue reading “Volition Closes $250M Fund to Invest in Bootstrapped Businesses”

Boston Tech Watch: Dell-EMC, Codeship, Compete Job Cuts & More

We’ve got lots of Boston tech news to catch up on from the past week, including a crucial step for the Dell-EMC merger, new venture capital deals, job cuts, and executives on the move. Read on for details. Grabbing cash —Boston-based Codeship announced Tuesday it raised $7 million in a Series A funding round led … Continue reading “Boston Tech Watch: Dell-EMC, Codeship, Compete Job Cuts & More”

Profitability Helps San Diego Lender Step Out from Industry Cloud

With a cloud lingering over the peer-to-peer lending industry, privately held National Funding is disclosing new details today about its operations, in a bid to step into the light and differentiate itself as a fintech company and alternative lender. In contrast to some alternative lenders, the San Diego firm said it is growing fast and … Continue reading “Profitability Helps San Diego Lender Step Out from Industry Cloud”

AgriSolve Tries for Paydirt with New Soil Amendment Technology

On a farm, nothing goes to waste—not even the waste. But even though manure has value as fertilizer, it’s not valuable enough to transport far, says Roland Kessler. That’s why farmers typically keep it for their own fields. As animal operations get bigger, Kessler says, so much manure is produced that using it all as … Continue reading “AgriSolve Tries for Paydirt with New Soil Amendment Technology”

Drones, Understory, & Cellectar: This Week’s Wisconsin Watchlist

Catch up on news from Wisconsin’s innovation community with these recent headlines: —Industries as diverse as insurance, agriculture, and construction are now using drones or considering it, the Wisconsin State Journal reported. The benefits to using these unmanned flying machines include worker productivity and safety, when it comes to tasks such as inspecting wind turbines. As … Continue reading “Drones, Understory, & Cellectar: This Week’s Wisconsin Watchlist”

The Outbreaks Are Here, Where’s Our Response Plan?

The news of the first Zika case in Pierce County—the 14th in Washington State—reminds us that the spread of disease is inevitable. While we don’t have in our region the kind of mosquito that transmits Zika, the latest infected patient returned from a visit to Puerto Rico. Thanks to modern travel, whether by mosquitoes or … Continue reading “The Outbreaks Are Here, Where’s Our Response Plan?”

U-M’s Detroit Data Fellows Aim to Improve the Way Police Fight Crime

In 1817, the University of Michigan was founded in Detroit before eventually relocating roughly 40 minutes west to Ann Arbor. As the school approaches its bicentennial next year, it has worked to rebuild and strengthen its ties to the Motor City through a number of novel partnerships, including the Gerald R. Ford School of Public … Continue reading “U-M’s Detroit Data Fellows Aim to Improve the Way Police Fight Crime”

Roundup: StackPath, Houston Ventures, Seremedi, Climate Impact Capital

As we wind down Monday, let’s get caught up with the latest innovation news in Texas. —In an atypically large debut for a young company, Dallas-based StackPath came out of stealth mode with $150 million in funding and about 30,000 customers. The cybersecurity software firm was founded by Lance Crosby, who sold cloud-computing software company … Continue reading “Roundup: StackPath, Houston Ventures, Seremedi, Climate Impact Capital”

Verizon Gobbles Up Yahoo, Will Group It With AOL—But What About Tumblr?

A huge question has finally been answered about Yahoo’s future. Verizon sealed a deal over the weekend to acquire the company’s core business for more than $4.8 billion in cash, and will put Yahoo on the same shelf it keeps AOL. That is but a sliver of the valuation Yahoo tasted in its heyday, including … Continue reading “Verizon Gobbles Up Yahoo, Will Group It With AOL—But What About Tumblr?”

Dallas Cybersecurity Software Firm StackPath Makes $180M Debut

Dallas—StackPath, a cybersecurity software company based in Dallas, has come out of stealth mode with $180 million in investment and 30,000 customers, according to media reports. StackPath is led by Lance Crosby, former co-founder and CEO of SoftLayer, a Dallas software company that IBM acquired for an estimated $2 billion in 2013. “The Internet is … Continue reading “Dallas Cybersecurity Software Firm StackPath Makes $180M Debut”

Tobira Fails Main Goal in NASH Study, But Forges Ahead To Next Trial

[Updated, 9:40 a.m. ET, see below] Developing treatments for nonalcoholic steatohepatitis, a dangerous liver disease that’s fast becoming an epidemic, is one of the most competitive fields in biotech. Tobira Therapeutics is one of several companies in the mix, and although data released this morning cast doubt on the potential of its drug, the company … Continue reading “Tobira Fails Main Goal in NASH Study, But Forges Ahead To Next Trial”

New York’s B12 Continues Trend of “Human-Assisted A.I.” Startups

For years, critics have viewed artificial intelligence technologies as an existential threat to human workers’ jobs (if not our lives, but that’s a whole other debate). But with the latest wave of A.I. startups, some entrepreneurs are aiming for a middle ground where humans team up with A.I. programs to take advantage of each other’s … Continue reading “New York’s B12 Continues Trend of “Human-Assisted A.I.” Startups”

Seattle Week in Review: No Easy Answers in Summer of Turmoil

How many people 402 days ago expected to wake up to Donald J. Trump as the Republican nominee for president of the United States? Here we are. Rubbing my eyes, reaching for a second cup of coffee—maybe something stronger—and looking for ways to interpret the week’s events. One good one is a media startup based … Continue reading “Seattle Week in Review: No Easy Answers in Summer of Turmoil”

MobileIgniter to Shut Down After Five Years and Multiple Pivots

According to U.S. Census data, less than half of businesses started between 1977 and 2000 lived to celebrate their fifth birthday. Indeed, today’s entrepreneurs understand there’s no guarantee they’ll succeed. There’s even a celebratory culture around failure in some circles. But if a startup does fail, the question is what lessons can be applied to … Continue reading “MobileIgniter to Shut Down After Five Years and Multiple Pivots”