It’s time to catch up on a few recent investments in Boston-area tech startups, including a new data storage company from the founders of Carbonite. Read on for details. —RedPoint Global said Wednesday it snagged $12 million in Series C funding from Grotech Ventures and WP Global Partners. Located just outside of Boston in Wellesley, … Continue reading “Boston Deal Watch: RedPoint Global, Nift, BlueArchive, Cogito”
Category: National
Armed With Patent, Foundation Med Sues Diagnostic Rival Guardant
[Updated, 1:15 pm ET and 7:53pm ET, see below] Cambridge, MA-based Foundation Medicine (NASDAQ: [[ticker:FMI]]), which analyzes tumor and blood samples from cancer patients and provides suggestions for potential genetically targeted medicines, is suing rival diagnostic firm Guardant Health. The patent infringement suit comes swiftly on the heels of Foundation receiving a patent for its … Continue reading “Armed With Patent, Foundation Med Sues Diagnostic Rival Guardant”
CPRIT Marks Midpoint in Texas Agency’s 10-Year Cancer-Fighting Mandate
Austin—Officials at the Cancer Prevention and Research Institute of Texas Tuesday marked the midpoint of the agency’s mandate. “Curing cancer takes 10 to 15 years and costs hundreds of millions of dollars, if not billions,” said Wayne Roberts, CPRIT’s executive director. “But preventions and cures are possible with every advance…Cancer is not cured now, but … Continue reading “CPRIT Marks Midpoint in Texas Agency’s 10-Year Cancer-Fighting Mandate”
As Teradata Moves into Cloud, R&D Lab Steps into Light in San Diego
When Oliver Ratzesberger joined Teradata (NYSE: [[ticker:TDC]]) in 2013, the global computing giant just outside of Dayton, OH, was known for its high-end technology in data warehousing and big data analytics. At that time, Teradata sold its high-performance systems, which consolidate data from different sources, for millions of dollars to many of the biggest companies … Continue reading “As Teradata Moves into Cloud, R&D Lab Steps into Light in San Diego”
Geodesic Capital Closes $335M First Fund For Growth Investing
Geodesic Capital, a year-old venture capital firm that plans to help U.S. companies expand into Japan and other countries in Asia, has raised a $335 million inaugural fund with backing from anchor investor and co-founder Mitsubishi. In addition to Mitsubishi’s business contacts as a diverse global enterprise, Foster City, CA-based Geodesic comes with the ready-made … Continue reading “Geodesic Capital Closes $335M First Fund For Growth Investing”
Agios, Celgene Jump into Immuno-Oncology in Revamped Alliance
Agios Pharmaceuticals rode a wide-ranging partnership with Celgene to a big IPO a few years ago. Today the two companies are partnering once again in a deal that will see Agios try its hand at the increasingly competitive field of cancer immunotherapy. Specifically, Cambridge, MA-based Agios (NASDAQ: [[ticker:AGIO]]) is getting $200 million up front from … Continue reading “Agios, Celgene Jump into Immuno-Oncology in Revamped Alliance”
Studies Tout Massachusetts Tech Scene, But Talent Issues Loom
Several days after one study ranked Boston as the U.S. city best positioned to capitalize on the transition to a digital economy, a new report bolsters Massachusetts’s tech credentials—but with some important caveats that could hinder the Bay State’s growth. Last week, a report titled “Innovation That Matters” drew national attention with its somewhat surprising … Continue reading “Studies Tout Massachusetts Tech Scene, But Talent Issues Loom”
Foundation Med Gets U.S. Patent For Cancer Analysis
Cambridge, MA-based Foundation Medicine (NASDAQ: [[ticker:FMI]]) has built a business on analyzing cancer patient biopsies for the specific genetic alterations that might be fueling their disease. Now Foundation says, in a press release this morning, that it has received a U.S. patent that covers the “fundamental claims” of its technology. It’s not immediately clear if … Continue reading “Foundation Med Gets U.S. Patent For Cancer Analysis”
Expanding in Stomachs and in Europe, Allurion Adds $6M
Plenty of companies sell pills for weight loss or obesity treatment. None of them are quite like Allurion Technologies. The Wellesley, MA-based startup makes an ingestible “pill” containing a gastric balloon that a doctor fills with fluid through an attached tube to help a patient feel full. The tube is then removed via the patient’s … Continue reading “Expanding in Stomachs and in Europe, Allurion Adds $6M”
As He Bids to Buy Company, What Are Dan Gilbert’s Plans for Yahoo?
According to a report published in the Detroit News today, Quicken Loans chairman Dan Gilbert is serious enough about buying Yahoo that he’s lined up financing from investor Warren Buffett, the second-richest man in America. Buffett told CNBC Monday that his firm, Berkshire Hathaway, has offered to be a potential finance partner while Gilbert leads … Continue reading “As He Bids to Buy Company, What Are Dan Gilbert’s Plans for Yahoo?”
Gerngross Mulls Buying Back GlycoFi After Merck Closes HQ
[Updated, 1:05 pm ET] What does the future hold for GlycoFi, the Lebanon, NH-based company that Merck bought for $400 million in 2006? The Valley News first reported on Sunday that GlycoFi has moved out of its headquarters at the Dartmouth Regional Technology Center, and that a “select number” of employees have transferred to other … Continue reading “Gerngross Mulls Buying Back GlycoFi After Merck Closes HQ”
A Peek Into Boxbee’s Pivot From a Storage Service to Software
[Updated 5/18/16, 6:50 am. See below.] Change is not always easy, but for some startups it is a shot at evolving into something tangible. Confronted with uncertain prospects for growth, the team at Boxbee, based in New York, pivoted away from its original business—which was managing the pickup and storage of personal property for its customers. … Continue reading “A Peek Into Boxbee’s Pivot From a Storage Service to Software”
Learn These Tech Skills & Get a Raise, PayScale Report Says
Want to make a few extra (thousand) bucks? For software developers, it’s possible if you add a few trending programming languages to your resume, according to Seattle-based PayScale, a crowdsourcing and data analytics company that seeks out and provides salary information. Developers and programmers who learn the Go or Scala computer programming languages will make … Continue reading “Learn These Tech Skills & Get a Raise, PayScale Report Says”
Smart Choice MRI Raises Another $7M, From Illinois Hospital System
Smart Choice MRI, which charges patients a flat rate of $600 or less rate for scans, has raised $7 million from Edward-Elmhurst Health. Smart Choice CEO Rick Anderson says his company will use the latest financing to help fund its rapid expansion. The growth of the Mequon, WI-based business has so far been contained to … Continue reading “Smart Choice MRI Raises Another $7M, From Illinois Hospital System”
Aduro Takes Hit On Pancreatic Cancer Trial Miss, But Shares Rebound
Trading of Aduro BioTech shares was halted earlier today as the drug maker said patients with advanced pancreatic cancer taking a combination of its immunotherapies in a clinical trial did not fare as well as those on standard chemotherapy. Due to the disappointing results, Berkeley, CA-based Aduro (NASDAQ: [[ticker:ADRO]]) will shelve its work on third-line … Continue reading “Aduro Takes Hit On Pancreatic Cancer Trial Miss, But Shares Rebound”
CarGurus CEO on Profitable Tech Startups, and Why Uber Is Road Kill
CarGurus might be the biggest Boston-area consumer tech company you’ve never heard of, but founder and CEO Langley Steinert is ready to change that. Based in Cambridge, MA, the decade-old firm has grown to more than $100 million in annual revenue and around 300 employees, with much of that growth coming in the past couple … Continue reading “CarGurus CEO on Profitable Tech Startups, and Why Uber Is Road Kill”
Boston Ride-Hailing Service Fasten Seeks Inroads to Austin Market
Austin—In the wake of Uber and Lyft’s departure from Austin, a Boston-based ride-hailing service said it will launch its service later this month. The company has said it will comply with the city’s regulations regarding background checks of drivers. Uber and Lyft had fought against those rules, saying they were an unnecessary infringement on their … Continue reading “Boston Ride-Hailing Service Fasten Seeks Inroads to Austin Market”
Texas Roundup: Adhesys, Emily Keeton, BioMedical Enterprises & Vyopta
Let’s get caught up with the latest innovation news at Xconomy Texas. —Station Houston co-founder Emily Keeton was the featured speaker at Startup Grind Houston’s most recent fireside chat event. Keeton became the national president of Lemonade Day, an organization that supports entrepreneurship in kids, and spoke specifically about encouraging young women in innovation. —The … Continue reading “Texas Roundup: Adhesys, Emily Keeton, BioMedical Enterprises & Vyopta”
Talent Shortage Looms as Indiana’s Life Sciences Industry Booms
According to a new report from TEConomy Partners and Battelle Technology Partnership Practice, Indiana’s health and life sciences industry—which includes the sectors of biopharmaceuticals, medical devices, agbiosciences, hospitals, outpatient centers, medical and diagnostic labs, home healthcare services, and nursing and residential care facilities—has experienced more than 22 percent growth since 2001. That’s a sharper increase … Continue reading “Talent Shortage Looms as Indiana’s Life Sciences Industry Booms”
Chimerix, TransEnterix, BDSI, Duke Energy & More NC Innovation News
Here’s a recap of top headlines from the last week in North Carolina biotech, tech, and cleantech news. —Chimerix (NASDAQ: [[ticker:CMRX]]) ran into another setback for its lead drug. The Durham company reported that its antiviral brincidofovir failed in a late-stage trial that studied the drug’s ability to fight adenovirus in transplant patients. The open-label … Continue reading “Chimerix, TransEnterix, BDSI, Duke Energy & More NC Innovation News”
Pfizer, Moving on From Allergan, Pays $5.2B For Anacor Pharma
It looks like Pfizer is starting to put some of the cash it would have spent on Allergan to use. This morning, weeks after its mega-merger with Allergan fell apart, Pfizer agreed to acquire Anacor Pharmaceuticals, a biotech based in Palo Alto, CA, with a drug for eczema that could win FDA approval early next … Continue reading “Pfizer, Moving on From Allergan, Pays $5.2B For Anacor Pharma”
Biogen Turns To UPenn Gene Therapy Pioneers in Wide-Ranging Alliance
Even though it recently decided to unload a gene therapy for hemophilia into a yet-to-be-named spin-out company, Biogen, one of biotech’s most risk-taking firms, is doubling down on gene therapy for other diseases. The Cambridge, MA-based company said today it is forming an alliance that could be worth $2 billion with two of the field’s … Continue reading “Biogen Turns To UPenn Gene Therapy Pioneers in Wide-Ranging Alliance”
Internal Threats: 10 Ways to Protect Your Business
The topic of cybercriminals can invoke the image of a scruffy-looking hacker glaring at a computer screen from a mysterious location. But the most serious threats to your business’s information security could be much closer than you think. A growing number of small and midsize businesses consider internal security breaches—accidental and malicious—from employees a bigger … Continue reading “Internal Threats: 10 Ways to Protect Your Business”
Exact Staff Cuts, NorthStar, & New Fundings: This Week’s WI Watchlist
Job cuts, expanded radioisotope production, and several new funding rounds are among these recent headlines from Wisconsin’s innovation community: —Exact Sciences (NASDAQ: [[ticker:EXAS]]) recently eliminated 29 employees, the Wisconsin State Journal reported. The Madison-based biotech’s growth has been brisk in recent years; Exact’s current headcount is reportedly about 750, up from 110 in early 2014. … Continue reading “Exact Staff Cuts, NorthStar, & New Fundings: This Week’s WI Watchlist”
White House Wants to Spend $121M on National Microbiome Initiative
The Obama administration announced this morning a public-private initiative to study the collections of microorganisms that live on or in humans and practically everywhere else on Earth. More than 100 other institutions are joining the administration with funding and resources in what’s being billed as the National Microbiome Initiative. The microbiome has become a subject … Continue reading “White House Wants to Spend $121M on National Microbiome Initiative”
See the Future of Robotics and A.I. at Robo Madness West, 6/22
Calling all robot lovers: The time is now to book June 22 on your calendar. That’s the day of Robo Madness West, a celebration of (and critical look at) the exploding fields of robotics and artificial intelligence among startups and big companies alike. Our fifth annual Bay Area robotics event is being held in partnership … Continue reading “See the Future of Robotics and A.I. at Robo Madness West, 6/22”
Seattle Week in Review: Failure is Likely, But Not Guaranteed
Entrepreneurs know it, the angel investors and venture capitalists who back them know it: Building a business from scratch is difficult, and the odds of it becoming a runaway success are long. Xconomy Seattle’s Week in Review looks at new research on angel investing outcomes and the winner of the latest Seattle Angel Conference, the … Continue reading “Seattle Week in Review: Failure is Likely, But Not Guaranteed”
Hacking Health, DMI Hope to Strengthen Detroit’s Health IT Ecosystem
Detroit-area clinicians, healthcare organizations, health IT startups, and others are gathering at the University of Windsor in Ontario Friday for the second annual Hacking Health event, which is designed to break down barriers and inspire innovative collaborations between the health-tech ecosystems on both sides of the Detroit River. WEtech Alliance, TechTown Detroit, and the EPICentre … Continue reading “Hacking Health, DMI Hope to Strengthen Detroit’s Health IT Ecosystem”
Blockchain, Fashion, Rockets, & More: Austin A-List Awards 2016
Austin—From a company developing rockets that can blast satellites into space to a business that decodes your dog’s genome, twelve local companies were honored this week as A-List startups by the Austin Chamber of Commerce and South by Southwest Interactive. The twelve companies were broken down into three categories: emerging, growth, and scale. A Rising … Continue reading “Blockchain, Fashion, Rockets, & More: Austin A-List Awards 2016”
Wall Street Bids Up Acacia in 2nd Tech IPO of 2016, 1st in MA
The tech IPO drought has momentarily subsided. Acacia Communications raised $103.5 million in its stock market debut today, marking the first Massachusetts tech firm, and second nationwide, to go public this year. Wall Street may be showing it prefers substance over flash, bidding up the stock price of the profitable (if unsexy) company in early … Continue reading “Wall Street Bids Up Acacia in 2nd Tech IPO of 2016, 1st in MA”
“Be Vulnerable, With Confidence,” Keeton Advises Women Entrepreneurs
Houston—Among the best ways to encourage women entrepreneurs? Plug the confidence gap in young girls. So said Emily Keeton, a Houston entrepreneur—she co-founded the co-working space Station Houston earlier this year—at a Startup Grind Houston event Wednesday. She pointed to the example of a 12-year-old named Rosemary, who participated in the most recent Lemonade Day held … Continue reading ““Be Vulnerable, With Confidence,” Keeton Advises Women Entrepreneurs”
Series A for Accion: Space Tech Startup Gets $7.5M
Accion Systems, a space-technology startup led by MIT graduates, has raised $7.5 million in Series A funding. The news was reported by TechCrunch. The lead investor is Shasta Ventures, with RRE Ventures, Founder Collective, and Slow Ventures also participating in the round, according to the report. Accion had previously raised seed money from investors including … Continue reading “Series A for Accion: Space Tech Startup Gets $7.5M”
Bankrupt Biotech KineMed Owes More Than $1M To Gates, Others
KineMed spent years trying to help drug companies and other researchers pinpoint how to best attack a disease. Despite multiple deals with big names in pharma and academia, the business didn’t work. KineMed, of Emeryville, CA, filed for Chapter 11 bankruptcy last week, which means it wants protection from creditors while it comes up with … Continue reading “Bankrupt Biotech KineMed Owes More Than $1M To Gates, Others”
Amazon, Mitsubishi Advancing Speech Technology in Boston
[Updated 5/13/16, 9:56 a.m. See below.] Computer scientists have been trying to train software-powered machines to reliably understand and respond to human speech for years. They seem to have turned a corner recently. Two of the latest examples were highlighted Thursday in Boston, as researchers from Amazon and Mitsubishi Electric Research Laboratories (MERL) briefly discussed … Continue reading “Amazon, Mitsubishi Advancing Speech Technology in Boston”
After a Couple of Late Changes, Gener8tor Graduates Its Newest Class
Radiologists today are drowning in a figurative sea of images. Since 1999, there has on average been a five-fold increase in the number of scans a radiologist must interpret, says Peter Wakahiu Njenga, co-founder and CTO at Behold.ai. But these experts at image-reading have not gotten five times more efficient during that time, says Njenga, whose … Continue reading “After a Couple of Late Changes, Gener8tor Graduates Its Newest Class”
Is Your Machine Learning Algorithm Smarter Than a Dog?
Do we need an Asimov’s Law for chatbots? And how do they compare with a talking parrot? What can dairy farmers learn from outfitting cows with pedometers? How can algorithms better explain to humans not just what they’re predicting, but why? Some of the biggest names from the Seattle area’s growing machine learning and artificial … Continue reading “Is Your Machine Learning Algorithm Smarter Than a Dog?”
UT System Invests $12.4M to Bring Big Data Analytics to Patient Care
Austin—The University of Texas System is dedicating $12.4 million to build a “big data” analytics network for its system of hospitals. The network, which is going to be developed over the next four years, will collect anonymous patient and administrative data from its hospitals around the state. That information will be used to analyze and … Continue reading “UT System Invests $12.4M to Bring Big Data Analytics to Patient Care”
Schoold Uses Machine Learning to Do Your College Scholarship Hunt
Now that high school seniors have made the fateful choice of a college to attend in the fall, their parents are free to pull out tufts of hair as they figure out how to pay for it. Scholarships are life-saving options, but they can be hard to ferret out, says San Francisco-based startup Schoold, which … Continue reading “Schoold Uses Machine Learning to Do Your College Scholarship Hunt”
East Coast Biotech Roundup: NY Bio, Gender Gap, Zafgen, PureTech & More
Biotech clusters aren’t built overnight. It takes years of work, a bit of luck, a collaborative atmosphere, and the wherewithal to keep plugging away through the ups and downs. New York is in the early stages of its life sciences quest, but it has arrived at a critical point in its growth that could make … Continue reading “East Coast Biotech Roundup: NY Bio, Gender Gap, Zafgen, PureTech & More”
Digital Health Startups Racing to 5G Wireless Rendezvous
It’s hard to define fifth-generation mobile technology, when 5G is not officially expected to launch until 2020. Few people nowadays can describe what the next-generation wireless networks are going to look like. In the meantime, the digital health sector is racing to connect with a wireless infrastructure that has yet to be revealed. According to … Continue reading “Digital Health Startups Racing to 5G Wireless Rendezvous”
MIT’s Renovated Martin Trust Center Mimics Startup Offices: Photos
Step into the newly renovated Martin Trust Center for MIT Entrepreneurship on MIT’s campus, and you might think you’ve mistakenly wandered into the office of a startup or co-working space. That’s the point. “A lot of our students want to start companies out of school,” says Tommy Long, the center’s chief of staff. “We wanted … Continue reading “MIT’s Renovated Martin Trust Center Mimics Startup Offices: Photos”
Amid Leadership Changes, NY Biotech Braces For its “Pivotal Moment”
Over the past five years, the narrative has changed for life sciences in New York. Biotech investors are, at long last, on the ground in the city looking for deals. High-profile startups have emerged. Yet the city’s biotech leaders know there are still challenges ahead. “This is a pivotal moment,” said Susan Solomon, the CEO of … Continue reading “Amid Leadership Changes, NY Biotech Braces For its “Pivotal Moment””
Hitchcock Out, Baum In at Dyn After Private Equity Takeover
The big thing that Dyn CEO Jeremy Hitchcock didn’t tell me (or anyone in the press) at the time of his company’s $50 million funding announcement Tuesday is that he’s stepping down. The timing is not all that surprising, except for the PR omission. From the outside at least, the company’s growth round from Pamplona … Continue reading “Hitchcock Out, Baum In at Dyn After Private Equity Takeover”
G1 Therapeutics Hauls in $47M for Lung, Breast Cancer Trials
[Updated, 5/12/16, 10:25 a.m. See below.] Buoyed by promising early clinical trial results and the market traction of a similar cancer drug, G1 Therapeutics has raised $47 million to advance its lead program and start clinical trial work on another. New investor Cormorant Asset Management led the Series C investment in Research Triangle Park, NC-based … Continue reading “G1 Therapeutics Hauls in $47M for Lung, Breast Cancer Trials”
Houston’s Adhesys Medical Forms Partnership with German Pharma Firm
[Updated 5/12/16 10:15 am. See below.] Houston—Adhesys Medical, maker of a new surgical adhesive with its U.S. headquarters in Houston, has announced a commercialization partnership with a European pharmaceutical company. Grünenthal is based in Aachen, Germany, which is where Adhesys—then known as Medical Adhesive Revolution—was founded. Adheysys won the Rice Business Plan Competition in 2014, … Continue reading “Houston’s Adhesys Medical Forms Partnership with German Pharma Firm”
Do You Have What It Takes to Dive Into “Shark Tank”?
Calling all Detroit entrepreneurs: “Shark Tank,” the popular ABC show that offers startups the chance to pitch their business ventures to potential investors, will be in Detroit next week in search of contestants. Values Partnerships, Grand Circus, and Brandcamp University are working with the show’s producers to recruit a more diverse set of ideas and … Continue reading “Do You Have What It Takes to Dive Into “Shark Tank”?”
Danny Hillis on Boston vs. CA, Last Days With Minsky, and His New Co
Danny Hillis co-founded the famous parallel computing company Thinking Machines in 1983, while doing his doctoral work at MIT under artificial intelligence pioneer Marvin Minsky. The company boasted one of the great corporate slogans of all time: “We’re building a machine that will be proud of us.” Thinking Machines might not have worked out (its … Continue reading “Danny Hillis on Boston vs. CA, Last Days With Minsky, and His New Co”
J&J Company DePuy Synthes Buys San Antonio’s BioMedical Enterprises
San Antonio—BioMedical Enterprises, the San Antonio, TX-based maker of nickel-titanium alloy implants used to help small bones heal, has been acquired by a DePuy Synthes, a group of medical device companies owned by Johnson & Johnson (NYSE: [[ticker:JNJ]]). Terms were not disclosed. DePuy is interested in BioMedical Enterprises (BME) because of the variety of implants … Continue reading “J&J Company DePuy Synthes Buys San Antonio’s BioMedical Enterprises”
TransEnterix Shifts Surgical Robot Focus After FDA Rejection
TransEnterix entered 2016 on the inside track as the likely challenger to surgical-robot giant Intuitive Surgical, marching forward with a pipeline that boasted two different robotic systems. But the FDA rejected TransEnterix’s first surgical robot, and the company is now conserving cash and trimming staff to keep its second robot in the race with other … Continue reading “TransEnterix Shifts Surgical Robot Focus After FDA Rejection”
Austin Software Firm Vyopta Adds Another $1M to Previous $5M Round
Austin—Vyopta, which provides a video conferencing system dashboard for businesses, said Wednesday it has added $1 million to a $5 million funding round it announced in February. AVX Partners, the company’s investor in the previous round, is putting up the additional $1 million. Allison Smith, a spokeswoman for the company, said Vyopta decided to take … Continue reading “Austin Software Firm Vyopta Adds Another $1M to Previous $5M Round”