[Updated 7/7/16, 9:19 a.m., with information from BevSpot press release and CEO interview.] BevSpot, a Boston-based startup that makes software that helps bars and restaurants manage inventory and analyze sales and operations data, has ordered up another round of investment dollars. In a new SEC filing, BevSpot says it raised $11 million in equity funding. … Continue reading “BevSpot, With Harvard & MIT Roots, Grabs More Cash For Bar Software”
Category: National
Tour of Texas: Cancer Moonshot, Luminex, Integricote, & Rising Barn
Let’s catch up with the latest innovation news in Texas. Austin: —-Luminex (NASDAQ: [[ticker:LMNX]]) completed its acquisition of Nanosphere, an Illinois maker of diagnostic tests, for $77 million. The Austin-based Luminex, which also makes diagnostic tests, announced the purchase in May for an initial price of $58 million, according to the Austin American-Statesman. Dallas: —Dallas’s Tech … Continue reading “Tour of Texas: Cancer Moonshot, Luminex, Integricote, & Rising Barn”
Pfizer Might Buy Bind Therapeutics From Bankruptcy for $20M
Bind Therapeutics and its treatment for non-small cell lung cancer may soon be owned by one-time partner Pfizer. Bind, which filed for Chapter 11 bankruptcy in May, asked the bankruptcy court on July 1 to approve a stalking-horse bid from Pfizer for $20 million, a fraction of the $70.5 million it raised in an initial … Continue reading “Pfizer Might Buy Bind Therapeutics From Bankruptcy for $20M”
Osmo Game Aims To Lower Age Limit To Learn Concepts Behind Coding
Literacy is being redefined in our era of digital technology. The language of coding is becoming an essential element of literacy in the United States—as Latin and Greek once were for ambitious American colonists when the Declaration of Independence was signed 240 years ago. Elite elementary schools are now introducing very young children to basic … Continue reading “Osmo Game Aims To Lower Age Limit To Learn Concepts Behind Coding”
Code School Leaders Share Their Edtech Picks To Make All Kids “Coding Natives”
Workers who already have a college degree now often top off their credentials by doing a stint at a code school—July and August are the peak enrollment periods, says San Francisco-based online code school Bloc. Others seek graduate degrees in computer science, or just study on their own via online courses, to add coding to … Continue reading “Code School Leaders Share Their Edtech Picks To Make All Kids “Coding Natives””
With CF Pact, Moderna and Vertex Aim to Spray mRNA Into the Lungs
Moderna Therapeutics has spent years developing a way to coax a patient’s body to make its own protein-based drugs, with visions of treating conditions ranging from cancer to cardiology. Add cystic fibrosis to those ambitions, as Cambridge, MA-based Moderna is announcing today a collaboration with Boston-based Vertex Pharmaceuticals (NASDAQ: [[ticker:VRTX]]), a top maker of drugs … Continue reading “With CF Pact, Moderna and Vertex Aim to Spray mRNA Into the Lungs”
IBM Opens Bluemix Garage in NY for Devs Working on Blockchain Tech
A new workshop opened last week in New York where developers can fine- tune their blockchain software. IBM has set up a Bluemix Garage in SoHo within a Galvanize campus that also just opened in town. The “garage” is a place where local developers, from startups and enterprises alike, can collaborate with tech experts and use … Continue reading “IBM Opens Bluemix Garage in NY for Devs Working on Blockchain Tech”
TechSmith CEO Plans to Continue Father’s Legacy of Growth, Inclusion
Wendy Hamilton was cruising along in her career as the global head of life sciences at Thomson Reuters when she got the call from her dad, William Hamilton. He told her was planning to step down as president of TechSmith, the Okemos, MI-based maker of business and educational software that he co-founded and nurtured since … Continue reading “TechSmith CEO Plans to Continue Father’s Legacy of Growth, Inclusion”
An Entrepreneur’s Journey: UH’s C-Voltaics Becomes Integricote
Houston—Three years ago, when I first met Seamus Curran, he was one of the pioneer entrepreneurs coming out of the University of Houston’s Energy Research Park. His startup, C-Voltaics, produced a chemical solution that could stain-proof wood, carpets, and even your best white clothing from water, coffee, red wine, or other damaging substances. The company … Continue reading “An Entrepreneur’s Journey: UH’s C-Voltaics Becomes Integricote”
Harvard Startup HourlyNerd Taps $22M as World of Work Evolves
The global workforce is in the early stages of a shift away from traditional 9-to-5 office jobs and toward more flexible freelance work, thanks to new technologies and preferences among younger workers. The question is what a typical career will look like when the dust settles in the next decade or so. Will full-time jobs … Continue reading “Harvard Startup HourlyNerd Taps $22M as World of Work Evolves”
Boston Tech Watch: HourlyNerd, Uber, Noncompetes, Akamai, & More
We hope everyone enjoyed the long holiday weekend. After all the fireworks last night, it’s time to catch up on some of the hot news in Boston-area tech from the past week: —Boston-based HourlyNerd said Tuesday it raised $22 million in a Series C round led by General Catalyst Partners, with contributions from Highland Capital … Continue reading “Boston Tech Watch: HourlyNerd, Uber, Noncompetes, Akamai, & More”
Bristol-Myers Squibb Boosts Cancer Drug Pipeline with Cormorant Deal
Bristol-Myers Squibb has acquired cancer and rare disease drug developer Cormorant Pharmaceuticals, a deal that includes an early-stage cancer compound that could complement the way Bristol’s own immune-oncology treatments work. New York-based Bristol (NYSE: [[ticker:BMY]]) said Tuesday that it has acquired all of the outstanding stock of privately held Cormorant for $95 million in up … Continue reading “Bristol-Myers Squibb Boosts Cancer Drug Pipeline with Cormorant Deal”
Affordable Homes Through Software and Design: The Rising Barn Story
San Antonio—The founders of Rising Barn didn’t even know each other when they started working on what would become their San Antonio, TX-based company, which uses software to build affordable housing with designs developed by an architect. Pegy Brimhall is the architect. She wanted to take her expertise in designing manageable, easily constructible skyscrapers for … Continue reading “Affordable Homes Through Software and Design: The Rising Barn Story”
3 Things You (Probably) Don’t Know about Indiana Innovation
People who live outside of Indiana probably know a few things about it: The Indianapolis 500, a.k.a. “The Greatest Spectacle in Racing,” is run every Memorial Day weekend; Indiana limestone was used to build the Empire State Building, the National Cathedral, and the Pentagon; and Indiana sugar cream pie is the best dessert ever. But … Continue reading “3 Things You (Probably) Don’t Know about Indiana Innovation”
Seattle Week in Review: Happy Independence Day Edition
Happy Independence Day Weekend. (And Happy Canada Day to our neighbors to the north.) Xconomy Seattle is planning to harvest some Dungeness crab from Puget Sound, eat fresh berries in patriotic colors, and contemplate freedom in the midst of the craziest political season of our lives. But first, here’s a recap of some technology news—University … Continue reading “Seattle Week in Review: Happy Independence Day Edition”
IDAvatars to Move Beyond Healthcare Following Purchase of CodeBaby
Since launching in 2013, Mequon, WI-based iDAvatars has mostly focused on applications for its intelligent virtual assistant software in the healthcare industry. That will likely change following the startup’s acquisition of CodeBaby, which has developed similar technology to iDAvatars’. CodeBaby’s client roster includes some healthcare organizations, but also companies in sectors like finance, retail, and … Continue reading “IDAvatars to Move Beyond Healthcare Following Purchase of CodeBaby”
Xconomy’s Top Innovation Stories of the Half Year
Here we are at the midpoint of 2016 already. Time to look back on the past six months—and some of the top stories of the year so far. The following represent a cross-section of what Xconomy offers on a daily basis: in-depth reporting from the front lines of technology and business innovation; coverage from 11 … Continue reading “Xconomy’s Top Innovation Stories of the Half Year”
Alnylam Advances RNAi Drug Results After Two Years of Treatment
Alnylam Pharmaceuticals is marching forward in its pursuit of developing a pair of RNA interference drugs that aim to reduce the levels of a protein known to cause a type of rare disease that can harm the nervous system or the heart—but there’s still plenty of work left to be done, even after the company … Continue reading “Alnylam Advances RNAi Drug Results After Two Years of Treatment”
Challenge Detroit Leadership Program’s New Cohort is Largest Yet
Challenge Detroit kicked off its fifth year this week, announcing the selection of 42 fellows—its largest cohort ever—for the 2016-2017 class, which will spend the next year building leadership skills and connecting with the community. Challenge Detroit is a professional development program aimed at attracting and retaining millennial talent to the city. Each cohort is … Continue reading “Challenge Detroit Leadership Program’s New Cohort is Largest Yet”
Milestones of Innovation 12: Overflight Of Russia’s Ultimate Weapons
Sixty years ago, on the Fourth of July, 1956, the American President gained a capacity that has never been lost: clear pictures from above of Russia’s thermonuclear weapons delivery system. Because the images ended up shrinking the world’s appetite for tools of ultimate destruction, it is hard to think of a more significant innovation. The … Continue reading “Milestones of Innovation 12: Overflight Of Russia’s Ultimate Weapons”
Biotech Roundup: Moonshots, Pink Slips, Gilead, Brexit & More
The word of the week was “moonshot,” as U.S. Vice President Joe Biden’s cancer initiative convened a summit in Washington, DC. At the gathering, Biden took verbal shots at scofflaw cancer researchers and at drug prices, while the FDA said it would take a shot at restructuring the way it evaluates oncology products. Gilead Sciences … Continue reading “Biotech Roundup: Moonshots, Pink Slips, Gilead, Brexit & More”
Why Finance Should Take a Page Out of the Credit Card Industry’s Book
U.S. federal and financial regulators recently advised banks nationwide to assess the strength of their safeguards against cyber fraud. The warning comes after a string of cyber heists and attempted heists against banks around the world, including the $81 million theft from the Bangladesh central bank. These crimes have opened the financial industry’s eyes to … Continue reading “Why Finance Should Take a Page Out of the Credit Card Industry’s Book”
San Antonio Buys Time on Regulations to Find Place in Uber Economy
San Antonio—For those engaged in the ongoing saga of Uber and Lyft versus fingerprinting, the next date to mark is in October, at least in the Alamo City. Uber, Lyft, and Get Me will be able to continue offering rides to the people of San Antonio until at least October, after a decision yesterday by … Continue reading “San Antonio Buys Time on Regulations to Find Place in Uber Economy”
Bone-Healing Therapies Firm Bioventus Files for IPO
Bioventus, a company that develops treatments that harness the body’s own biology to help bones heal, is joining the list of life science firms lining up to go public. The Durham, NC-based biotech company filed paperwork on Thursday for a $150 million initial public offering to raise funds to pay off debt. That dollar figure … Continue reading “Bone-Healing Therapies Firm Bioventus Files for IPO”
Thanks to Explosive Growth, Quikly Snags $3 Million Investment
Detroit-based digital marketing startup Quikly announced this week that it has closed on a new $3 million round of funding. Ann Arbor’s Plymouth Ventures led the round, with participation from PennStro Ventures, BRMR (a subsidiary of BDS Capital), Hyde Park Angels, and Tappan Hill Ventures. As part of the deal, Kevin Terrasi, a partner at … Continue reading “Thanks to Explosive Growth, Quikly Snags $3 Million Investment”
WISC Partners Raises $8.2M First Fund, Reveals Portfolio Companies
Wisconsin Investment and Strategic Capital (WISC) Partners, a Madison, WI-based venture capital group formed to support early-stage companies in the state, has raised $8.2 million for its first fund, according to an SEC filing. David Guinther, one of two general partners at WISC Partners, confirmed the raise in an e-mail message to Xconomy. “We have … Continue reading “WISC Partners Raises $8.2M First Fund, Reveals Portfolio Companies”
New Bootstrap Fund Pulls Itself Up in World of Health IT Deals
Healthtech entrepreneur Parker Hinshaw and his wife Jean Balgrosky said they intended to take a step back when they founded Bootstrap Incubation near San Diego in the fall of 2012. They wanted to combine Hinshaw’s experience in starting and growing health IT startups with Balgrosky’s expertise in strategic IT planning and overhauling healthcare IT networks—but … Continue reading “New Bootstrap Fund Pulls Itself Up in World of Health IT Deals”
Google Capital Backs Public Firm Care.com as Investment Lines Blur
[Corrected 6/30/16, 2:49 p.m. See below.] Google Capital’s $46.35 million investment in publicly traded Care.com, announced Wednesday, marked a departure from the firm’s usual bets on late-stage private companies and illustrated how the traditional lines in the venture capital world are being redrawn. Care.com (NYSE: [[ticker:CRCM]]) is the first investment in a public firm by … Continue reading “Google Capital Backs Public Firm Care.com as Investment Lines Blur”
Riding Moonshot, FDA Will Revamp Its Cancer Practice. To What End?
As part of a national cancer “moonshot” initiative led by Vice President Joe Biden, the FDA said Wednesday it would retool the way it evaluates cancer treatments and tests. But to what end? The goals of the FDA’s new Oncology Center of Excellence remain vague, as does its structure. In a speech Wednesday morning at … Continue reading “Riding Moonshot, FDA Will Revamp Its Cancer Practice. To What End?”
Harvard’s Springer Gets $51.5M From Pharmas, Others, For Latest Startup
Inside our bodies, our cells move around, communicate, form new tissue, and heal wounds with the help of proteins called integrins. But when disease occurs, integrins get the wrong cues and do damage—they might help tumors grow, or promote inflammation or scarring inside the body. Several drugs to block bad integrin behavior and treat a … Continue reading “Harvard’s Springer Gets $51.5M From Pharmas, Others, For Latest Startup”
Syros Cuts Price But Bags $50M in IPO to Fuel Cancer Drug Trials
Syros Pharmaceuticals has a long way to go before it knows whether its drug discovery work will pay off. But insiders and Wall Street investors have given the firm’s efforts a boost, helping it go public Wednesday evening with a $50 million IPO. Cambridge, MA-based Syros sold 4 million shares at $12.50 apiece in the … Continue reading “Syros Cuts Price But Bags $50M in IPO to Fuel Cancer Drug Trials”
San Antonio Economic Foundation Targets Youth with New CEO Hire
San Antonio — [Corrected 6/30/16, 9:52 a.m. See below.] The San Antonio Economic Development Foundation, one of several organizations working to promote business development in the Alamo City, has hired a new president and CEO: Jenna Saucedo-Herrera, an executive at the city-owned gas and electric utility CPS Energy. The foundation, a nonprofit, works with city … Continue reading “San Antonio Economic Foundation Targets Youth with New CEO Hire”
No Stairway (Infringement) and the Importance of Shared Design Tools in Innovation
Led Zeppelin just won a major copyright case defending against infringement claims from the estate of Randy California—songwriter for the band Spirit. At first listen, the opening guitar part of Zeppelin’s Stairway to Heaven does sound a lot like California’s guitar part in the middle of Taurus. But as I explain in a longer blog … Continue reading “No Stairway (Infringement) and the Importance of Shared Design Tools in Innovation”
Houston Health IT Startups Part of Biden’s Cancer Moonshot Initiative
Houston—Two Houston health IT startups are among the private companies enlisted by U.S. Vice President Joe Biden in his national cancer moonshot initiative, designed to speed up efforts that could cure cancer. DocGraph and CareSet Systems, both based in Houston, are developing a cancer dataset that would contain summarized information on nearly a million Medicare … Continue reading “Houston Health IT Startups Part of Biden’s Cancer Moonshot Initiative”
Fred Lee, The UW Radiologist With Startup Vision
[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.] Fred Lee is not afraid to put himself out there. Lee is a radiologist at the University of Wisconsin Hospital and Clinics, where his primary area of interest … Continue reading “Fred Lee, The UW Radiologist With Startup Vision”
With $18M, Reflexion Health Expands Physical Therapy Technology
Reflexion Health, a San Diego startup founded in 2012 at the nonprofit West Health Institute, is moving to commercialize Vera, its physical rehabilitation system based on Microsoft Kinect’s motion tracking technology. After recently raising $18 million in Series B funding, the healthtech company also plans to add new products as it expands nationally among U.S. … Continue reading “With $18M, Reflexion Health Expands Physical Therapy Technology”
The Future of Human-Machine Culture Imagined At Robo Madness West
Roboticists covered a sweeping range of topics at Xconomy’s annual Robo Madness West conference last week, from the ethics of artificial intelligence to the powerful impact of robots that have faces. Two themes ran through all the panel discussions, whether they focused on robot design, logistics and manufacturing, drones, or artificial intelligence. Speakers repeatedly brought … Continue reading “The Future of Human-Machine Culture Imagined At Robo Madness West”
Moderna Gets $200M More, Deepens Merck Ties With New Cancer Pact
Moderna Therapeutics still hasn’t produced data in humans supporting its technology, which is meant to turn our bodies into little drugmaking factories. But the Cambridge, MA-based company nonetheless keeps grabbing the attention, and cash, of other drugmakers. Moderna said today that it will work with Merck (NYSE: [[ticker:MRK]]) to develop “personalized” cancer vaccines based on … Continue reading “Moderna Gets $200M More, Deepens Merck Ties With New Cancer Pact”
Scott Dorsey Reflects on ExactTarget & the Rise of Indianapolis Tech
The expertise and guidance of a savvy mentor can change the fortunes of a startup. Bob Compton was that person for ExactTarget, says co-founder and former CEO Scott Dorsey. Compton—an IBM veteran, successful investor, and one of the godfathers of Indianapolis’s burgeoning tech community—was ExactTarget’s lead investor and its chairman in the early 2000s, when … Continue reading “Scott Dorsey Reflects on ExactTarget & the Rise of Indianapolis Tech”
Roundup: RetroSense, America’s Greatest Makers, Naturalicious & More
Here’s a look at innovation news from around Michigan: —Wayne State University and Massachusetts General Hospital spinout company RetroSense Therapeutics has been named one of the nation’s 50 smartest companies by the MIT Technology Review. The biopharmaceutical company based in Ann Arbor closed a $6 million Series B funding round last year to support clinical trials … Continue reading “Roundup: RetroSense, America’s Greatest Makers, Naturalicious & More”
Startup M&A: Why a Letter of Intent Deserves Your Full Attention
You might know it as a letter of intent or a term sheet. Maybe you’ve heard it referred to as an MOU, or memorandum of understanding. Whatever you call it, this document of about five pages is a summary of the terms of a deal the parties hope to close down the line. If buyers … Continue reading “Startup M&A: Why a Letter of Intent Deserves Your Full Attention”
Executive Reshuffling at Dallas’s Tech Wildcatters Startup Accelerator
Dallas—With the dismissal of two top executives from Dallas’s Tech Wildcatters, the startup accelerator has made a deep pivot in operations since its founding seven years ago. Molly Cain, TW’s executive director, and Clarisa Lindenmeyer, chief revenue officer, were both let go from their positions last week in what co-founder Gabriella Draney Zielke calls a … Continue reading “Executive Reshuffling at Dallas’s Tech Wildcatters Startup Accelerator”
Icagen Boosts Drug Discovery Capabilities With Sanofi Site Purchase
Icagen is expanding its capabilities to search for new drugs by bolting on a Sanofi research site in Arizona and gaining access to the lab’s library of compounds. Durham, NC-based Icagen says it has a definitive agreement to acquire the Sanofi (NYSE: [[ticker:SNY]]) research site in Oro Valley, AZ. The companies disclosed no financial terms … Continue reading “Icagen Boosts Drug Discovery Capabilities With Sanofi Site Purchase”
CloudLock Bought by Cisco for $293M After Pivot to Cloud Security
The Boston-area cybersecurity scene is ripe with acquisition targets. IBM bought incident-response firm Resilient Systems earlier this year. Now, Cisco Systems says it is acquiring CloudLock, a Waltham, MA-based cloud security company, for $293 million in cash and stock, plus retention-based incentives for CloudLock employees who join Cisco. It’s one of the biggest exits of the … Continue reading “CloudLock Bought by Cisco for $293M After Pivot to Cloud Security”
Modern Meadow Collects $40M for Real Leather With ‘No Cow Involved’
Modern Meadow, a New York-based company that has developed a method of turning living cells into materials used to make leather that mimics animal hide, has received a $40 million Series B funding to begin manufacturing and commercializing its leather products. The company has developed a line of cells that produce collagen, a protein that … Continue reading “Modern Meadow Collects $40M for Real Leather With ‘No Cow Involved’”
Can the Digital World Change the Wine and Spirits Industry?
Every day it seems a new tech startup emerges to tap the keg of the spirits industry, especially on the consumer delivery side. The team at New York’s SevenFifty took on a different approach, however, trying to fix inefficiencies in the alcohol distribution cycle. A recent funding round is giving SevenFifty fuel to grow. The … Continue reading “Can the Digital World Change the Wine and Spirits Industry?”
More Job Cuts at Infinity As AbbVie Sends Back Blood Cancer Drug
The outlook for Infinity Pharmaceuticals didn’t look good after its blood cancer drug, duvelisib, came up short in a critical clinical trial a few weeks ago, and the situation has gotten worse today. AbbVie has sent the rights to duvelisib back to Infinity, leading to another round of job cuts at the Cambridge, MA, company. … Continue reading “More Job Cuts at Infinity As AbbVie Sends Back Blood Cancer Drug”
Amid Brexit Fallout, U.K.-Listed PureTech Debuts Speech Diagnosis Firm
[Updated 6/28/16, 12:50pm. See below.] PureTech Health starts companies in cutting-edge areas of biomedical science and often owns them outright. Its latest aims to create software that listens for warning signs of depression in people’s speech patterns. The unveiling of the firm, called Sonde Health, comes at a curious time for Boston-based PureTech. Shares of … Continue reading “Amid Brexit Fallout, U.K.-Listed PureTech Debuts Speech Diagnosis Firm”
Resin Raises $9M to Build Tools for IoT Software Updates
Resin.io, a startup with headquarters in Seattle and employees scattered across the globe, has raised a $9 million funding round to further its work on tools for software development and deployment for connected devices. The company’s prior backer, DFJ, invested in the round, along with GE Ventures, Ericsson, and Aspect Ventures. Resin, founded in 2013, previously … Continue reading “Resin Raises $9M to Build Tools for IoT Software Updates”
Regulus Shares Crumble As FDA Halts Testing of Hepatitis C Drug
A new wave of drugs has changed the way hepatitis C is treated. Regulus Therapeutics has not been part of that wave, but the company’s plans to join it took a big hit this afternoon. La Jolla, CA-based Regulus (NASDAQ: [[ticker:RGLS]]) said that the FDA has suspended the clinical testing of its lead drug, RG-101, … Continue reading “Regulus Shares Crumble As FDA Halts Testing of Hepatitis C Drug”