Indiana Governor Mike Pence on Thursday unveiled plans to invest $1 billion in Hoosier innovation and entrepreneurship over 10 years, in what he calls a “third century” strategy for growth. Indiana is celebrating its bicentennial this year. Pence, who also is considered a leading candidate for Donald Trump’s vice presidential pick, announced the ambitious initiative … Continue reading “Indiana Gov. Mike Pence Proposes $1B for Innovation, Entrepreneurship”
Category: National
CyberGRX Gets $9M to Manage Security Risks From Business Partners
An interesting cybersecurity startup emerged from stealth mode in Denver today. CyberGRX, which develops cyber risk management software, said it has closed $9 million in Series A funding, led by Allegis Capital. The company’s other investors include a mix of venture firms such as Blackstone, TenEleven Ventures, Rally Ventures, GV, and MassMutual Ventures, and security … Continue reading “CyberGRX Gets $9M to Manage Security Risks From Business Partners”
Cree Sharpens LED Lighting Focus with Deal to Sell Power & RF Unit
Cree has made no secret of its plans to focus its business on LED lighting. Now the company is ramping up those efforts with the planned sale of a legacy business unit that did not fit that strategy. Durham, NC-based Cree (NASDAQ: [[ticker:CREE]]) announced today that it has a definitive agreement to sell its Power & … Continue reading “Cree Sharpens LED Lighting Focus with Deal to Sell Power & RF Unit”
Indy Cybersecurity Firm Pondurance Prepares for Growth at New Office
Indianapolis-based information security firm Pondurance is in growth mode, nearly doubling its staff of 14 in the past six months and expecting to add another 55 jobs in the next several years. The company’s annual revenue likewise is on pace to double to $8 million this year—just two years after founding partners Ron Pelletier and … Continue reading “Indy Cybersecurity Firm Pondurance Prepares for Growth at New Office”
Why Entrepreneurs Should Care About Inequality and Divisiveness
The horrific news of recent weeks has amplified America’s long-simmering tensions and many divisions, and cast a new and disturbing light on the nature of social and economic inequality in this economy. The shootings that targeted police officers at a peaceful protest in Dallas, which followed the officer-involved shooting deaths of Philando Castile near Minneapolis … Continue reading “Why Entrepreneurs Should Care About Inequality and Divisiveness”
Tour of Texas: Valence, Stellarray, Flux Farms, A&M, StemBioSys
Let’s get caught up on the latest innovation news from Texas’s startup communities. Austin: —Valence Health, a Chicago-based organization with offices in Austin and Corpus Christi, has sold the majority of its business to Evolent Health for $145 million in cash and stock. Founded in 1996, Valence provides advisory and administrative services to hospitals, insurers, … Continue reading “Tour of Texas: Valence, Stellarray, Flux Farms, A&M, StemBioSys”
Fontinalis Closes New $100M Fund Supporting Mobility Startups
When Fontinalis Partners launched its first venture fund in 2009 to invest in early-stage mobility startups, many in the VC world didn’t quite know what mobility was. Defined by Fontinalis as “the efficient movement of goods, people, and services across all modes of transportation,” mobility has come to encompass ridesharing services like Lyft and Uber, … Continue reading “Fontinalis Closes New $100M Fund Supporting Mobility Startups”
Second Genome Replaces DiLaura as CEO, Brings Series B to $51M
[Updated and corrected 7/14/16, 5:49 p.m. ET. See below.] Second Genome, a biotech trying to create small-molecule drugs using its microbiome research, has hired a new CEO and president: Glenn Nedwin, the former CEO of Taxon Biosciences, a microbiome company that was acquired by Dupont last year. Nedwin is replacing Peter DiLaura, the company’s CEO … Continue reading “Second Genome Replaces DiLaura as CEO, Brings Series B to $51M”
No Profits, No Problem: Imprivata Bought by Private Equity for $544M
One of the stalwarts of Boston’s technology scene is going private again. Lexington, MA-based Imprivata, a developer of health IT security software, is getting bought by a private equity firm two years after going public. Imprivata has agreed to be acquired by Thoma Bravo for about $544 million. The price per share ($19.25) represents a … Continue reading “No Profits, No Problem: Imprivata Bought by Private Equity for $544M”
True Fit Nabs $25M to Make Online Shopping More Personal
Shopping is getting more personal, as retailers and brands try to use data analytics to deliver curated and targeted product recommendations to consumers online—and ideally boost sales. The latest example is True Fit, a Woburn, MA-based software company that has amassed millions of data points on the fit and style of shoes and clothing products, … Continue reading “True Fit Nabs $25M to Make Online Shopping More Personal”
Texas A&M and Methodist Hospital Bring Engineers to Medical School
College Station, TX—Texas A&M University and Houston’s Methodist Hospital want to bring engineering into medical education. Starting next fall, A&M will admit 50 engineering students to be part of its medical class—out of a class of 200—in a program designed to bring in those students’ expertise to promote innovative thinking in medical schools. “This is … Continue reading “Texas A&M and Methodist Hospital Bring Engineers to Medical School”
How Cyber Visibility Protects Against the Abnormal & the Immoral
Another day, another breach. For many Bostonians, the “privacy incident” recently disclosed by Massachusetts General Hospital (MGH)—which reportedly involved the personal information of 4,300 dental patients stored by a software vendor—hit close to home in many ways, as most of us have at one time or another been to MGH for ourselves or a loved … Continue reading “How Cyber Visibility Protects Against the Abnormal & the Immoral”
Can Innovation Save Us?
During a summer that’s been marred by political upheaval and horrific violence inside and outside the U.S., it’s natural for startup entrepreneurs and others immersed in the technology world—including us journalists—to wonder about the role of innovation in solving social problems. In the wake of the murder of five police officers in Dallas, which followed … Continue reading “Can Innovation Save Us?”
FDA Lets Juno Jump Back Into T-Cell Trial, Minus One Chemo Drug
The FDA has allowed Juno Therapeutics to resume a high profile clinical trial of a cutting-edge cancer therapy less than a week after the trial was halted, Juno (NASDAQ: [[ticker:JUNO]]) announced this afternoon. The news has bumped its share price 25 percent in after-hours trading Tuesday. The Seattle biotech firm revealed last week the recent … Continue reading “FDA Lets Juno Jump Back Into T-Cell Trial, Minus One Chemo Drug”
55 Washington Programs Helping Improve Diversity in Tech
The technology industry’s diversity deficit is no secret, and with the issue out in the open, attention is turning toward potential solutions. To that end, the Washington Technology Industry Association produced a comprehensive listing of 55 programs in the state already working to help women, under-represented minorities, and veterans into the tech industry at every … Continue reading “55 Washington Programs Helping Improve Diversity in Tech”
San Antonio’s StemBioSys Brings Product to South Korea With SeouLin
San Antonio — StemBioSys has inked its second distribution deal in as many months, announcing plans today to bring its stem cell production products to South Korea in the coming weeks. Korean life science equipment distributor SeouLin Bioscience Co. will begin selling StemBioSys products in the country, with products going on the market in the next few … Continue reading “San Antonio’s StemBioSys Brings Product to South Korea With SeouLin”
BioCrossroads Contest Helps Indiana Officials Track Biotech Startups
Calling all Indiana-based, early-stage companies working on biotech, pharmaceuticals, medical devices, diagnostics, ag-biotech, and health IT: The BioCrossroads New Venture Competition is now accepting submissions from startups that want to participate. Since its inception in 2012, the competition has awarded more than $240,000 to 16 companies, which have gone on to secure $21 million in … Continue reading “BioCrossroads Contest Helps Indiana Officials Track Biotech Startups”
From Drones to Sharing Economy, Don’t Disrupt the Disruptors
Napa Valley met the Silicon Valley at the recent Xconomy Retreat on Technology, Jobs, and Growth (aka the Napa Summit). Experts in cutting-edge technology huddled with business leaders and investors in the California wine country to explore what’s on, and just over, the technological horizon. Over the course of the two-day event, drones and the … Continue reading “From Drones to Sharing Economy, Don’t Disrupt the Disruptors”
As Drone Navigation Advances, SlantRange Focuses on Farm Analytics
As the Federal Aviation Administration sets new rules for commercial operations of unmanned aircraft, legions of new startups are using drones to perform all kinds of tasks—from aerial inspections to mapping, imaging, and analysis. Whether these new businesses can succeed will depend on a variety of factors, including restrictions on autonomous flight that government regulators … Continue reading “As Drone Navigation Advances, SlantRange Focuses on Farm Analytics”
Caveats But No “Quicksand” In Sage’s Positive Postpartum Trial Data
[Updated 7/12/16, 4:07 p.m., with final share price. See below.] Sage Therapeutics has avoided the “great quicksand of drug development” for now. That was Sage CEO Jeff Jonas’s description of depression a couple months ago in a conversation with Xconomy. Today, Sage (NASDAQ: [[ticker:SAGE]]) is reporting positive Phase 2 data in postpartum depression, an often … Continue reading “Caveats But No “Quicksand” In Sage’s Positive Postpartum Trial Data”
Freshly Gets $21M More on Its Plate for Tech Hires, National Expansion
Amid some of the commotion in the food tech sector, on Tuesday New York-based Freshly, a meal delivery startup, announced it raised $21 million in a Series B round led by Insight Venture Partners. Prior investors, including Highland Capital Partners and White Star Capital, also participated. The infusion of funding will go towards some of the … Continue reading “Freshly Gets $21M More on Its Plate for Tech Hires, National Expansion”
Industrial Giant Siemens Seeks VR/AR Startups To Help Revolutionize Manufacturing
During this, the first year when virtual reality headsets are widely available, games are the lure commonly spurring consumers to try VR. And that’s spreading beyond digital games. Early next month, some headset owners will be able to watch finals matches in basketball and other sports recorded for VR at the Rio 2016 Olympic Games. … Continue reading “Industrial Giant Siemens Seeks VR/AR Startups To Help Revolutionize Manufacturing”
With Bugs As Drugs, Evelo CEO Plans Immune, Cancer Trials in 2017
While the Obama administration wants to dedicate a tiny sliver of the federal budget to microbiome research, a growing number of startups—often with the backing of international corporations—are racing to turn microbiome research into health products. The Cambridge, MA-based firm Evelo Biosciences wants to harness live bacteria as cancer and immune-disease treatments. Evelo, which launched … Continue reading “With Bugs As Drugs, Evelo CEO Plans Immune, Cancer Trials in 2017”
With Positive Postpartum Results, Sage Ponders More Mood Disorders
[Corrected 11:53 a.m. See below.] Sage Therapeutics’ new clinical trial results for postpartum depression may have a far-reaching impact not only on women who suffer from the condition but also on the direction of Sage itself. The Cambridge, MA-based drug developer said this morning that its therapy succeeded in ending depression in women during a … Continue reading “With Positive Postpartum Results, Sage Ponders More Mood Disorders”
Boston Tech Watch: Bain, New Google Project, Desktop Metal & More
In recent Boston tech news, Bain Capital Ventures reloaded its coffers for early-stage tech investments. Android co-founder Rich Miner is working on a new project at Google. Several startups scooped up more cash, including 3D printing firm Desktop Metal. And a healthtech company changed hands. Read on for details. —Bain Capital Ventures closed on a … Continue reading “Boston Tech Watch: Bain, New Google Project, Desktop Metal & More”
Korean Giant Doosan Acquires Storage Software Maker 1Energy Systems
1Energy Systems, a Seattle company making software to integrate batteries and other distributed energy technologies with the electricity grid, has been acquired by Doosan Heavy Industries & Construction (DHIC), a 120-year-old Korean conglomerate with a major power generation business. 1Energy, founded in 2011, never took outside investment. Its principals, including founder and CEO David Kaplan, … Continue reading “Korean Giant Doosan Acquires Storage Software Maker 1Energy Systems”
Dallas’s Flux Farms Brings A.I., Sensor to Hydroponic Farming
Dallas—Flux Farms likens the company’s technology to the brain of a smart farm. Eddy, the name of Flux Farms’ software technology, is made up of a robotic sensor as well as artificial intelligence that can monitor the water and nutrient levels of crops like tomatoes or lettuce, and then either trigger an automatic feeder or … Continue reading “Dallas’s Flux Farms Brings A.I., Sensor to Hydroponic Farming”
Report Shows International Students Filling State’s STEM Talent Gap
Those of us who have always imagined America to be a place that welcomes immigrants and refugees as a matter of principle have mostly watched in horror as this election season has unfolded. Amid talk of “a big, beautiful wall” between Mexico and the United States, a ban on Muslims entering the country, and dog-whistling … Continue reading “Report Shows International Students Filling State’s STEM Talent Gap”
Tissue Analyzer 3Scan Builds Out Machine Learning With $14M Series B
3Scan, a San Francisco company that uses knife-shaped diamonds to cut, scan, and analyze biological tissue, has raised a $14 million round of funding from Lux Capital and Data Collective. The company plans to use the cash for expanding its existing imaging systems and software, as well as pushing forward its ability to help with … Continue reading “Tissue Analyzer 3Scan Builds Out Machine Learning With $14M Series B”
The Gap Has Two Sides
About two years ago, I was asked to join a Babson College panel discussing the gender gap in venture capital. At the center of the conversation would be the results from the Diana Project, a research study that examined our industry and the stark lack of representation of women investors and funded entrepreneurs. I accepted … Continue reading “The Gap Has Two Sides”
Filestack, Owned by Scaleworks, Rides Wave of Interest in API Services
San Antonio—If you build it, will they buy your application programming interface? Increasingly, it seems so. With tech companies such as Uber and Lyft or Facebook and Instagram aiming to provide faster services to more people, a subset of companies has emerged that aims to provide niche software tools that are meant to take at … Continue reading “Filestack, Owned by Scaleworks, Rides Wave of Interest in API Services”
Promethean Founder Returns From India With Lessons For Entrepreneurs
When Promethean Power Systems’ founders wrote the original business plan for their cleantech startup at MIT, they intended to sell their products in India first. But none of them had ever set foot on Indian soil. After winning $10,000 as the runner-up in the MIT $100K pitch competition in 2007, co-founders Sorin Grama and Sam … Continue reading “Promethean Founder Returns From India With Lessons For Entrepreneurs”
An Homage to Larry Bock, Who Had God’s Hand on His Shoulder
When I told Larry Bock in an e-mail about four months ago that I had been diagnosed with cancer, the renowned San Diego life sciences investor asked if he might see me at UC San Diego’s Moores Cancer Center. “Maybe we can share an infusion room,” he replied. “I will be sending good thoughts your … Continue reading “An Homage to Larry Bock, Who Had God’s Hand on His Shoulder”
Seattle Week in Review: A Tragic Summer, Hoping “This Too Shall Pass”
Another week of tragedy. How to process the local tech “news,” which can seem trivial in light of the spasms of violence, angst, and upheaval tearing at our country? I honestly don’t know. Here’s what we were following, until the events of the last 48 hours overshadowed all else: —Xconomy’s Texas editor is delving into … Continue reading “Seattle Week in Review: A Tragic Summer, Hoping “This Too Shall Pass””
Dallas Police Shooting Highlights Role of Robots in Law Enforcement
Dallas—Robots have become a regular feature of combat, used by soldiers in Afghanistan and Iraq. But Dallas police’s use of such a device early Friday morning may be the first time law enforcement has deployed a robot to detonate a bomb to kill a suspect. Dallas Police Chief David Brown said police had tried to … Continue reading “Dallas Police Shooting Highlights Role of Robots in Law Enforcement”
Tesaro Stock Sale Hauls in $409M on Heels of Strong Cancer Data
With its stock price soaring following the release of strong data for its experimental ovarian cancer treatment, Tesaro completed a stock sale that net the company $409 million. Tesaro (NASDAQ: [[ticker:TSRO]]) said it sold 5.3 million shares of common stock at $81 per share. The Waltham, MA-based company’s stock was trading at $91.36 per share … Continue reading “Tesaro Stock Sale Hauls in $409M on Heels of Strong Cancer Data”
Eleven Bio’s Eye Disease Drug Set For $22.5M Milestone from Roche
Eleven Biotherapeutics says it’s in line for $22.5 million from partner Roche after an experimental eye treatment that the companies have partnered on hit a key early milestone that puts it on the path to starting clinical trials. In June, Eleven (NASDAQ: [[ticker:EBIO]]) licensed EBI-031, a drug it’s been developing for eye diseases like diabetic macular … Continue reading “Eleven Bio’s Eye Disease Drug Set For $22.5M Milestone from Roche”
Austin’s Stellarray Tackles Radiography in Space for NASA Project
Austin—Imaging startup Stellarray is looking to the next frontier for its imaging technology. The Austin, TX company has begun a project with NASA to develop a next-generation imaging system that can produce both traditional two-dimensional X-rays as well as 3-D, computer-generated images such as digital tomosynthesis. The effort is part of a $125,000 phase 1 … Continue reading “Austin’s Stellarray Tackles Radiography in Space for NASA Project”
Biotech Roundup: Fighting Addiction, Obama Precision, Juno Deaths & More
This week started with celebrations of America’s birthday, and it has been dominated—biotech-wise—by America’s government. The Obama administration continued its high-profile involvement in the life sciences by updating its Precision Medicine Initiative, easing limits on doctors who want to fight opioid addiction, and stopping a clinical trial in one of the hottest biomedical fields, cancer … Continue reading “Biotech Roundup: Fighting Addiction, Obama Precision, Juno Deaths & More”
Early-Stage Investment in WI Dipped in 2015, But Some Positive Signs
Venture capital funds and angel investors pumped $209.5 million into young Wisconsin-based startups in 2015. While that’s down from $346.2 million in 2014, that year’s total was pumped up by a single outlier, says Bram Daelemans, director of the Wisconsin Angel Network. A more positive development was the number of early-stage companies that raised investment … Continue reading “Early-Stage Investment in WI Dipped in 2015, But Some Positive Signs”
After Three Deaths, FDA Halts Juno’s Leading CAR-T Trial
The FDA has halted a clinical trial of a closely-watched cell-based cancer immunotherapy from Seattle’s Juno Therapeutics after two patients died last week during the trial. Those deaths followed a death in May, Juno officials said today. Juno says all three patients died of cerebral edema, or swelling in the brain, and it thinks it … Continue reading “After Three Deaths, FDA Halts Juno’s Leading CAR-T Trial”
Pairaphrase Pushes Smart, Secure Language Translation Software
A Royal Oak, MI-based startup focused on language translation software is heading to New York City this fall to compete in Techweek’s Launch competition. Pairaphrase was founded by Rick Woyde because he thought he could offer a better, more private alternative to Google Translate. Woyde is the longtime owner of Language Arts & Science, a … Continue reading “Pairaphrase Pushes Smart, Secure Language Translation Software”
After Quickly Raising $11M, BevSpot Aims For Smart, Rapid Growth
Somebody forgot to tell BevSpot it’s supposed to be getting hard to raise venture capital right now. The Boston-based startup, which makes software for bars and restaurants, just nabbed $11 million in a Series B round led by previous backer Bain Capital Ventures. The deal came together quickly—about six weeks from the first conversation to … Continue reading “After Quickly Raising $11M, BevSpot Aims For Smart, Rapid Growth”
Pernix Therapeutics Slashes Staff to Shake Up Sales Strategy
Pernix Therapeutics is slashing its headcount by more than 20 percent as the specialty pharmaceutical company tries to move toward profitability after a streak of acquisitions. Morristown, NJ-based Pernix (NASDAQ: [[ticker:PTX]]) will cut 60 workers, mostly from its neurology sales staff, the company said today. As of the end of 2015, Pernix reported a headcount … Continue reading “Pernix Therapeutics Slashes Staff to Shake Up Sales Strategy”
KaloBios Deals With Shkreli After Exiting Bankruptcy With New Cash
KaloBios Pharmaceuticals has signed an agreement with its former CEO, the embattled drug executive Martin Shkreli, to potentially buy back remaining stock Shkreli owns and to restrict his ability to sell his shares to others. The news comes a week after KaloBios—the Brisbane, CA-based biotech that was acquired by Shkreli shortly before his arrest on … Continue reading “KaloBios Deals With Shkreli After Exiting Bankruptcy With New Cash”
Recruitment Goal In Obama Precision Med Study: 1M in 3 or 4 Years
The Obama administration’s push to sign up one million Americans for a long-term health study will start in New York, Pittsburgh, Chicago, and Tucson, AZ, top health officials said today. National Institutes of Health director Francis Collins (pictured) and FDA commissioner Rob Califf spoke on a call this afternoon to update the Precision Medicine Initiative, … Continue reading “Recruitment Goal In Obama Precision Med Study: 1M in 3 or 4 Years”
Amicus Takes Aim at Rare Brain Disorder with MiaMed Acquisition
Rare disease drug developer Amicus Therapeutics has added a new prospect to its pipeline with the acquisition of a biologic program that the company hopes will eventually treat a genetic disorder whose seizures and neurological impairments have no approved treatment or cure. That preclinical program comes from MiaMed, a company that Amicus (NASDAQ: [[ticker:FOLD]]) said … Continue reading “Amicus Takes Aim at Rare Brain Disorder with MiaMed Acquisition”
San Antonio’s Invictus Medical Board Member Replaces Roberts as CEO
San Antonio—Invictus Medical, the San Antonio maker of a medical device designed to alleviate pressure on the heads of newborns, has a new chief executive officer. Invictus board member Dennis Kane is now the company’s acting CEO, according to Invictus chief financial officer Eric Eisbrenner. Eisbrenner deferred further commentary to Kane, who has not responded … Continue reading “San Antonio’s Invictus Medical Board Member Replaces Roberts as CEO”
Exact Sciences, D2P, & Bon Ami: This Week’s Wisconsin Watchlist
Stay plugged in on news from Wisconsin’s innovation community with these recent headlines: —Even though a decision from the U.S. Preventive Services Task Force last month improved the outlook for Madison-based Exact Sciences (NASDAQ: [[ticker:EXAS]]) and Cologuard, its stool-based DNA test for colorectal cancer, there is still disagreement about whether insurance companies will cover the … Continue reading “Exact Sciences, D2P, & Bon Ami: This Week’s Wisconsin Watchlist”
With CoMotion Labs, UW Casts Wider Net For Innovation and Startups
The University of Washington is expanding its portfolio of startup incubation spaces and inviting in companies even if they don’t yet have an explicit connection to the university. The new strategy is part of a broader rethinking of how the UW, consistently ranked in the upper echelons of research universities around the world, attempts to … Continue reading “With CoMotion Labs, UW Casts Wider Net For Innovation and Startups”