Houston—Chip Davis founded Houston Ventures specifically to support what’s known as the “digital oilfield.” In the last five years since it was spun out of Houston-based money management firm Sanger Morris Harris (now Edelman Financial Group), Houston Ventures has nurtured a small portfolio of technology startups that focus on software, IT networks, and analytics targeted … Continue reading “Houston Ventures Founder on Investing in Energy Software Startups”
Category: National
The Real Cracks in the Foundation of Ransomware
The rise of ransomware has been striking over the past two years, rapidly dominating headlines with its frequency, its wide range of victims, and its profitability. So when news hit that two of the largest and most notorious delivery systems for ransomware — the Necurs botnet and the Angler exploit kit — had gone dark, … Continue reading “The Real Cracks in the Foundation of Ransomware”
Biotech Roundup: Scangos’s Exit, Zafgen’s Shakeup, Jounce, Relypsa & More
The top news in biotech this week centers around one big job opening: the head seat at Biogen, now that George Scangos has announced plans to leave the company. Who takes the gig, and the strategic direction he or she chooses for Biogen will have implications not just for the company and its employees, but … Continue reading “Biotech Roundup: Scangos’s Exit, Zafgen’s Shakeup, Jounce, Relypsa & More”
Zingle Raises $3M to Expand and Improve Messaging App Technology
Zingle, a Carlsbad, CA-based tech startup targeting the service industry and consumer-facing businesses with its messaging app technology, has raised $3 million in venture capital, according to a regulatory filing earlier this month. The funding, provided by Santa Barbara, CA-based Rincon Venture Partners and Venice, CA-based CrossCut Ventures, represents the first institutional investment for Zingle. … Continue reading “Zingle Raises $3M to Expand and Improve Messaging App Technology”
Arrowhead Pharmaceuticals CEO on Name Change, Clinical Trial Progress
In September, Arrowhead Pharmaceuticals (NASDAQ: [[ticker:ARWR]]) released clinical trials data showing its hepatitis B virus (HBV) candidate had significantly lower levels of antigens. Last week, Chris Anzalone, president and CEO of Arrowhead—which is based in Pasadena, CA, but houses its R&D operations in Madison, WI—presented at Cantor Fitzgerald’s annual healthcare conference in New York. Xconomy … Continue reading “Arrowhead Pharmaceuticals CEO on Name Change, Clinical Trial Progress”
How Much GM Actually Paid for Cruise, and More Automotive News
As we limp into the dog days of summer—Michigan, like most of the Midwest, is currently trapped under what meteorologists are calling a “heat dome”—the state’s automotive technology efforts keep rolling along. Here’s a look at what’s happening around the industry: —When news broke in March that GM had acquired Bay Area tech startup Cruise … Continue reading “How Much GM Actually Paid for Cruise, and More Automotive News”
Impinj Breaks Seattle Tech IPO Drought, Raises $67.2M
Impinj raised $67.2 million in an initial public stock offering—the first for a Washington state technology company since 2014—and watched its shares surge upwards of 25 percent in Thursday morning trading on the Nasdaq Global Select Market. On Wednesday afternoon, Seattle-based Impinj (NASDAQ: [[ticker:PI]]) priced 4.8 million shares of its common stock at $14 each, … Continue reading “Impinj Breaks Seattle Tech IPO Drought, Raises $67.2M”
Nuance Buying TouchCommerce for $215M in Digital Customer Service
Speech and interface tech company Nuance Communications said Thursday it is acquiring southern California firm TouchCommerce for $215 million in cash and stock. The deal is expected to close by the end of September. Burlington, MA-based Nuance (NASDAQ: [[ticker:NUAN]]) plans to integrate TouchCommerce’s customer service products into its suite of systems for helping big companies … Continue reading “Nuance Buying TouchCommerce for $215M in Digital Customer Service”
Indigo’s Microbial Tech for Crops Lands $100M to Fight Plant Stresses
Indigo, an agricultural technology startup, has discovered ways that microbes help a plant grow under dry conditions. Now the company is pulling back the curtain on some of that work as it ramps up efforts to bring this technology to farmers. Boston-based Indigo is announcing this morning it has closed a $100 million Series C … Continue reading “Indigo’s Microbial Tech for Crops Lands $100M to Fight Plant Stresses”
With Biogen at a Crossroads, CEO Scangos to Step Down
[Updated, 9:20 a.m. ET, see below] Biogen has seen its highest highs under CEO George Scangos, but some lows too. After a year in which Biogen’s share price has fallen by more than a third and one of its top drug prospects failed, Scangos, who has led the company since 2010, has announced plans to … Continue reading “With Biogen at a Crossroads, CEO Scangos to Step Down”
Health IT Startup, Born of Grief, Tackles Home Care After Surgeries
Houston—Kim Bond Evans’s mother checked into the hospital for routine back surgery. But the procedure that was supposed to relieve her pain led to complications and, in the end, her death. As she processed her mother’s loss, Evans, who has worked for firms such as Microsoft and BMC Software, took a technologist’s approach to understand … Continue reading “Health IT Startup, Born of Grief, Tackles Home Care After Surgeries”
After Rival Stumbles, Relypsa Gets $1.5B Buyout Bid From Galenica
Relypsa got a big boost in May when a rival stumbled. Now it’s being rewarded with a buyout offer worth close to three times the price it went public at in 2013. Switzerland’s Galenica Group has agreed to buy Relypsa (NASDAQ: [[ticker:RLYP]]) for $32 a share in cash, or $1.53 billion overall, to grab rights … Continue reading “After Rival Stumbles, Relypsa Gets $1.5B Buyout Bid From Galenica”
Dauntless Takes Flight with New Business Model for Starting Biotechs
First came Inception Sciences, a holding company for spinning out biotech startups established by Versant Ventures and Peppi Prasit, the veteran San Diego drug developer. Then came COI Pharmaceuticals, the shared “community of innovation” for startup biotechs established by San Diego’s Avalon Ventures as part of its partnership with GlaxoSmithKline. And now there is Dauntless … Continue reading “Dauntless Takes Flight with New Business Model for Starting Biotechs”
Invenra Raises $3M to Develop Antibodies with, and for, Drug Makers
Madison, WI-based Invenra has raised more than $3 million from 27 investors, according to a document filed with federal securities regulators. Mark Kubik, the company’s vice president of business development, says that some of the money will go toward fulfilling agreements it’s made with drug companies, including U.K.-based Oxford BioTherapeutics, which Invenra announced it had partnered … Continue reading “Invenra Raises $3M to Develop Antibodies with, and for, Drug Makers”
Bioz, Using Machine Learning to Optimize Biology, Launches With $3M
The evolution of technology, from natural language processing to machine learning, is now helping the software world find more places to interact with biology. A company launched today in Palo Alto, CA, that has plans to build a “life science search engine” that may be able to speed up the process of drug discovery and … Continue reading “Bioz, Using Machine Learning to Optimize Biology, Launches With $3M”
App Developer Bluebridge Spins Out Emplify for Employee Engagement
As mobile app developer Bluebridge grew from a three-person shop to a staff of three dozen, CEO Santiago Jaramillo discovered there’s more to business success than satisfied customers: employee engagement also matters. So last summer, a group of his best and brightest started brainstorming ways to improve the worker experience at Fishers, IN-based Bluebridge. They … Continue reading “App Developer Bluebridge Spins Out Emplify for Employee Engagement”
Audentes Prices $75M IPO As Gene Therapy Eyes First U.S. Approval
As the possibility of the first ever gene therapy approval in the U.S. draws closer, more gene therapy players are entering the public markets. Today, it’s San Francisco’s Audentes Therapeutics, which aims to use gene therapy to treat a group of rare diseases. Audentes sold 5 million shares at $15 apiece in its IPO last … Continue reading “Audentes Prices $75M IPO As Gene Therapy Eyes First U.S. Approval”
Merck, Amgen Invest in Akili as Therapeutic Video Game Moves Ahead
Akili Interactive Labs, the Boston startup developing mobile video games that aim to assess and treat various cognitive disorders, today picked up more cash and endorsements from big pharma backers as the worlds of software and medicine continue to merge. Akili announced it tacked on $11.9 million to its recent Series B funding round, bringing … Continue reading “Merck, Amgen Invest in Akili as Therapeutic Video Game Moves Ahead”
Synthorx Raises $10M to Expand Use of Synthetic DNA in Biologics
Synthorx, the San Diego synthetic biology startup that expanded the number of DNA base pairs with two synthetic nucleotides, said today it has raised $10 million in a Series B financing round led by RA Capital Management, the Boston life sciences hedge fund. Existing investors Avalon Ventures and Correlation Ventures joined in the round. The … Continue reading “Synthorx Raises $10M to Expand Use of Synthetic DNA in Biologics”
Zafgen Restructures, Abandons Obesity Drug Following FDA Meeting
Zafgen’s prospects have been unclear ever since two patients died in a Phase 3 trial of its lead drug candidate, beloranib, a potential treatment for obesity in patients with a rare disease known as Prader-Willi Syndrome. The question looming over the Boston company: Could Zafgen win approval of the drug despite its apparent safety risks, … Continue reading “Zafgen Restructures, Abandons Obesity Drug Following FDA Meeting”
Titan Spine CEO: New Medical Billing Code Will Be ‘Big Selling Point’
Last week, Mequon, WI-based Titan Spine made a pair of announcements related to its ongoing effort to commercialize a new line of surgical implants. The first: that Southlake Equity Group, a private equity firm based in Southlake, TX, had made a “substantial” investment in Titan Spine. The second: that the U.S. Centers for Medicare & Medicaid … Continue reading “Titan Spine CEO: New Medical Billing Code Will Be ‘Big Selling Point’”
Invictus Medical, Under Temporary CEO, Pushes Sales and New Products
San Antonio — Effectively pulling off a change in management is no small feat. For Invictus Medical, it may be even more difficult because the departure of its long-time CEO, Tom Roberts, occurred at the same time the company is working to introduce a couple new products and clinch the first sales of its lead … Continue reading “Invictus Medical, Under Temporary CEO, Pushes Sales and New Products”
Rize Emerges With 3D Printer That Makes Easily Refined Parts
A startup’s struggle to stand out in a crowded industry can sometimes get a lift from a distinguishing product feature or the decision to focus on solving a specific problem. That theory will be put to the test with Rize. Today the Boston-area 3D printing startup unveiled what it’s been working on for more than … Continue reading “Rize Emerges With 3D Printer That Makes Easily Refined Parts”
Is the Future of Cybersecurity in M&A?
Last month Symantec announced its plans to buy Blue Coat for $4.7 billion. Has the consolidation—and creation of this enterprise security giant—put immense pressure on other industry players? In an ideal world, and from the perspective of a venture investor, this would absolutely be the case. In 2015, Cybersecurity startups saw 332 funding deals with … Continue reading “Is the Future of Cybersecurity in M&A?”
Oncorus Bags $57M, Touts Next-Gen Take on Cancer-Fighting Viruses
The field of cancer immunotherapy is so crowded and competitive these days that many companies are trying to stand by touting a next-generation approach. The latest company to do so is Oncorus, a Cambridge, MA-based startup that this morning closed a $57 million from a large group of investors. Oncorus was incubated within MPM Capital last year … Continue reading “Oncorus Bags $57M, Touts Next-Gen Take on Cancer-Fighting Viruses”
Zimmer Biomet Enters Robotic Surgery Space with Medtech Deal
Zimmer Biomet is staking out territory in the fast-growing robotic surgery market by acquiring Medtech, a France-based company that has already commercialized robotic systems used in brain and spinal procedures. Warsaw, IN-based Zimmer Biomet (NYSE: [[ticker:ZBH]]) paid an estimated $77 million for a majority stake in Medtech (EURONEXT: [[ticker:ROSA]]), marking its third acquisition in as … Continue reading “Zimmer Biomet Enters Robotic Surgery Space with Medtech Deal”
CommonBond Gets $30M in Equity, $300M in Debt Financing, Acquires Gradible
Just when the online lending scene seemed mired in doldrums and doubt, New York-based CommonBond landed several deals to shake things up. The company announced on Tuesday it raised $30 million, in a Series C equity round led by Neuberger Berman Private Equity, and it also acquired Gradible, a New York-based student loan evaluation company. … Continue reading “CommonBond Gets $30M in Equity, $300M in Debt Financing, Acquires Gradible”
Cyber Consolidation: Carbon Black Buys Confer in Endpoint Security
In what could be another sign of a shakeout in the cybersecurity industry, Carbon Black says today it has acquired fellow Boston-area security firm Confer Technologies. The deal has closed, but financial terms weren’t given. Both companies focus on endpoint security—software that helps organizations detect and respond to threats against computers, devices, and servers. Waltham, … Continue reading “Cyber Consolidation: Carbon Black Buys Confer in Endpoint Security”
With Celgene Deal, Jounce Lands $261M And a “Trusting Partner”
It’s getting harder and harder to stand out in the increasingly crowded cancer immunotherapy field. But with a wide-ranging alliance being announced this morning, three-year-old Jounce Therapeutics has been able to make its mark. The Cambridge, MA-based company has inked a deal to work with Summit, NJ-based Celgene (NASDAQ: [[ticker:CELG]]) on a group of experimental … Continue reading “With Celgene Deal, Jounce Lands $261M And a “Trusting Partner””
Ex-Epizyme CEO’s New Startup, Fulcrum, Nabs $55M For Gene Control Drugs
Former Epizyme CEO Robert Gould is back with a new startup. A year after stepping down as the CEO of Cambridge, MA-based Epizyme, Gould has re-emerged to lead another Cambridge company, Fulcrum Therapeutics, which has secured a massive $55 million Series A round from Third Rock Ventures. There are some similarities between Gould’s old job … Continue reading “Ex-Epizyme CEO’s New Startup, Fulcrum, Nabs $55M For Gene Control Drugs”
Roundup: Duo Insight, Digital Undivided, Bug Bounty & More
Here’s a look at innovation news from around Michigan: —Duo Security, the Ann Arbor-based cybersecurity startup that is also one of the state’s fastest growing companies, has released a free tool that lets IT teams run internal phishing simulations within five minutes. Duo Insight allows administrators to identify potential security weaknesses and share them with … Continue reading “Roundup: Duo Insight, Digital Undivided, Bug Bounty & More”
IT Services, Healthcare Attract Most Venture Investment in Texas
Venture capital investments into Texas startups and other high-tech companies totaled $255.6 million in 39 deals for the second quarter this year. The amount invested marked a 16 percent increase from the same period last year, while the number of deals was essentially flat. The state data is from the latest MoneyTree report on venture … Continue reading “IT Services, Healthcare Attract Most Venture Investment in Texas”
Boston Tech Watch: Noncompetes, Funding Blitz, Battery Tech & More
As the weather heats up in the Boston area today, stay cool with the latest local tech headlines: —The Massachusetts Senate passed a bill that puts stronger limits on noncompete agreements than a related bill passed earlier by the House. The Senate version caps noncompetes at three months and requires employers to pay the departed … Continue reading “Boston Tech Watch: Noncompetes, Funding Blitz, Battery Tech & More”
Evoke Pharma’s Stock Sinks on Stomach Drug’s Phase 3 Failure
Evoke Pharma is taking a hit in the markets after announcing a Phase 3 trial on a gastrointestinal drug for diabetes patients failed to meet its goals. In early trading Monday, Evoke’s (NASDAQ: [[ticker:EVOK]]) stock price was down 72 percent to $3.02 per share as of 11:30 a.m. in New York. The company is developing a … Continue reading “Evoke Pharma’s Stock Sinks on Stomach Drug’s Phase 3 Failure”
The Pan-Cancer Screen: Still Early for Prime Time
Imagine you could go to your doctor once a year for a blood test that would detect nearly every common type of cancer at an early stage. If you had a positive result, some further testing could pinpoint the cancer so you could have it treated before it spread. I would be ecstatic to have … Continue reading “The Pan-Cancer Screen: Still Early for Prime Time”
As Purdue Pushes Life Sciences, Foundation Seeks $10M For New Fund
A foundation affiliated with Purdue University in West Lafayette, IN, is raising $10 million for a new venture fund that would help the school’s spinouts. That doesn’t seem like much, but Indiana companies received $53 million in total venture funding last year. Assuming Purdue’s spinouts stay local—according to the school, 75 percent of those founded … Continue reading “As Purdue Pushes Life Sciences, Foundation Seeks $10M For New Fund”
Algorithmia Lands In-Q-Tel Deal, Adds Deep Learning Capabilities
Algorithmia, which runs a public marketplace for algorithms, has just landed a deal to provide a private algorithm-sharing platform for the U.S. intelligence community. The deal with In-Q-Tel, which invests in and procures new technologies for intelligence agencies, comes on the heels of a significant upgrade in capabilities for Algorithmia’s primary business of brokering access … Continue reading “Algorithmia Lands In-Q-Tel Deal, Adds Deep Learning Capabilities”
Q2 VC Funding Soars in San Diego (After Revisions), and Top 10 Deals
What a difference a megadeal (or two) can make. After the national MoneyTree Report was released last week, PricewaterhouseCoopers partner Ryan Spencer said he spent time on a call with Thomson Reuters, which provides the raw data, trying to figure out a change in the numbers for venture capital activity in San Diego. PricewaterhouseCoopers and … Continue reading “Q2 VC Funding Soars in San Diego (After Revisions), and Top 10 Deals”
Seattle Week in Review: A Century of Innovation on Lake Union
Reeling from yet another horrible attack in France, we undertake a review of this week’s tech news from Seattle and beyond. Start by reading Wade Roush’s essay on what we can and can’t expect from innovation and tech startups in this season of tumult, fear, and anxiety. Moving on to the happy glow of Boeing’s … Continue reading “Seattle Week in Review: A Century of Innovation on Lake Union”
Ziopharm Discloses Patient Death in Brain Cancer Trial, Shares Fall
A patient died after receiving Ziopharm Oncology’s experimental treatment for an aggressive form of brain cancer, but the Boston-based biotech company describes the death as “an isolated case” and plans to continue the study. Nonetheless, the news has spooked investors and Ziopharm’s (NASDAQ: [[ticker:ZIOP]]) stock price slipped more than 13 percent to $4.89 this morning. … Continue reading “Ziopharm Discloses Patient Death in Brain Cancer Trial, Shares Fall”
Kiio, HealthTech Capitol, & Exact Sciences: This Week’s WI Watchlist
Power through the dog days of summer with these recent headlines from Wisconsin’s innovation community: —Madison-based Kiio raised $227,000 in debt financing from three investors, according to an SEC filing. Kiio is developing software-enabled bands that provide resistance during rehabilitative exercises and help physical therapists gauge the strength of patients. Founded in 2011, Kiio has … Continue reading “Kiio, HealthTech Capitol, & Exact Sciences: This Week’s WI Watchlist”
Ex-Shell Venture Exec Rozenfeld Founds Firm For Energy Innovation
Houston—The energy industry is still reeling from low oil prices but Alexander Rozenfeld is placing a bet that this is the right time to back innovative ideas in the sector. Rozenfeld left his position last month as president of Shell Technology Venture to form his own venture firm, Climate Impact Capital. The past several years … Continue reading “Ex-Shell Venture Exec Rozenfeld Founds Firm For Energy Innovation”
Biotech Roundup: Hellos, Goodbyes, “Cures” Delays And Trial News
The week started on a reflective note. Our San Diego editor Bruce Bigelow penned a personal goodbye to entrepreneur Larry Bock, who died last week of pancreatic cancer at the age of 56. And then the news flowed, from a fast reprieve for Juno Therapeutics to no mercy for Elizabeth Holmes. There were other goodbyes: … Continue reading “Biotech Roundup: Hellos, Goodbyes, “Cures” Delays And Trial News”
Xbiotech Responds to ESMO, Other Critics of Phase 3 Cancer Data
Austin—It’s been a wild couple of weeks for Austin, TX, drug developer Xbiotech. On July 2, the maker of a monoclonal antibody that aims to treat colorectal cancer released additional details from a Phase 3 study. Its CEO calls the results beyond doubt “a breakthrough.” But investors, peers, and the medical society whose conference was … Continue reading “Xbiotech Responds to ESMO, Other Critics of Phase 3 Cancer Data”
$2.5M U-M Research Initiative Will Analyze Data from Connected Cars
In an effort to tackle the sea change associated with the future of transportation, two University of Michigan research projects recently scored $2.5 million in grants from the Michigan Institute for Data Science (MIDAS) to analyze the reams of data being generated by autonomous and connected vehicles across the country. MIDAS awarded funding to the … Continue reading “$2.5M U-M Research Initiative Will Analyze Data from Connected Cars”
DCM Ventures Snags $770M, and Three Security Firms Raise Millions
[Updated 7/15/16, 1:24 pm. See below.] This year could be the richest fundraising period for venture capital firms since 2000, according to Thomson Reuters figures so far. Menlo, Park, CA-based DCM Ventures did its bit this week to keep up the pace. DCM, a 20-year-old venture capital firm whose interests straddle the United States and … Continue reading “DCM Ventures Snags $770M, and Three Security Firms Raise Millions”
Insulete Co-founder on Hopes, Challenges for Diabetes Gene Therapy
[Editor’s note: This is part of a series of stories on physicians at the University of Wisconsin Hospital and Clinics who have become full- or part-time entrepreneurs.] For almost 35 years Hans Sollinger has been searching for ways to combat Type 1 diabetes, a chronic and potentially deadly disease in which a patient’s immune system destroys the … Continue reading “Insulete Co-founder on Hopes, Challenges for Diabetes Gene Therapy”
‘Megadeals’ Dominate Q2 as VCs Invest $15.3B, and Top 10 Deals
Showing little concern for stock-market volatility or worries over the Brexit, venture capital firms pumped $15.3 billion into 961 deals across the United States during the three months that ended June 30, according to the MoneyTree Report on venture capital activity. It was the 10th consecutive quarter that venture firms put at least $10 billion … Continue reading “‘Megadeals’ Dominate Q2 as VCs Invest $15.3B, and Top 10 Deals”
Sarepta Stock Down as FDA Seeks More Data from Rival Duchenne Drug
Sarepta Therapeutics still awaits an FDA decision on its Duchenne muscular dystrophy drug. But the agency’s conclusion that another company working on a treatment for the muscle-wasting disease needs to submit more information is leading some observers to believe that approval chances for Cambridge, MA-based Sarepta’s drug are slim. The FDA has informed Santhera Pharmaceuticals … Continue reading “Sarepta Stock Down as FDA Seeks More Data from Rival Duchenne Drug”
Titan Spine Lands Funding from Texas PE Firm for Surgical Implants
[Updated 7/14/16, 5:34 pm. See below.] Mequon, WI-based Titan Spine says it’s raised a “substantial” round of funding from Southlake, TX-based Southlake Equity Group. The surgical implant maker says it will use some of the money to ramp up sales of its devices already on the market and support the launch of a new product … Continue reading “Titan Spine Lands Funding from Texas PE Firm for Surgical Implants”