Metformin has long been the first-line drug of choice for treating type 2 diabetes. While insulin may be better known (it’s been available since the 1920s), metformin was introduced in the UK in 1958 (FDA approval in the U.S. occurred in 1995), and metformin is now believed to be the most widely prescribed anti-diabetic drug … Continue reading “Avalon, TPG Lead $15M Deal to Advance Metformin as Cancer Drug”
Category: National
Gene Edit Summit Leaders Stop Shy Of Call To Ban Germline Changes
No call for a ban. No moratorium. But the scientists and ethicists who convened this week’s once-in-a-generation summit in Washington, DC, say that the practice of editing human DNA in a way that can be passed to future generations is “irresponsible” until there’s a body of evidence that it is safe, that it works, and … Continue reading “Gene Edit Summit Leaders Stop Shy Of Call To Ban Germline Changes”
EatStreet Grabs $15M To Bring Food Ordering To More Mid-Size Cities
Since launching in 2010, the online food ordering service EatStreet has seen significant growth in revenue, users, and participating restaurants, all while sticking to its small-town roots. Founded by three students in a college town—Madison, WI, where the startup continues to operate—EatStreet now serves 15,000 restaurants across 250 markets, many of them mid-size cities with … Continue reading “EatStreet Grabs $15M To Bring Food Ordering To More Mid-Size Cities”
Occipital Acquires Lynx Laboratories, Expands 3-D Scanner Capabilities
Occipital, a San Francisco startup founded by two University of Michigan alums, has acquired Austin, TX-based Lynx Laboratories, maker of mobile 3-D scanning technology. The terms of the deal were not disclosed, although Occipital’s vice president of marketing, Adam Rodnitzky, said the entire Lynx Laboratories team of seven employees has been absorbed by his company. … Continue reading “Occipital Acquires Lynx Laboratories, Expands 3-D Scanner Capabilities”
Paul English’s Lola Envisions Easy Travel Powered By Mobile & Humans
The travel-booking process will become simpler, more personalized, and increasingly handled on smartphones—but with a renewed emphasis on consumers getting help from human experts. At least, that’s the vision presented Wednesday night at an event featuring four Boston-area travel tech startups, held at the Fort Point office of Blade Travel. That’s the former venture fund/startup … Continue reading “Paul English’s Lola Envisions Easy Travel Powered By Mobile & Humans”
Welltok Bolsters Growth With $45M Funding, Silverlink Acquisition
Health IT company Welltok is capping a busy two-year streak of acquisitions and financing with another deal. The Denver-based maker of software that aims to keep users healthy is acquiring Burlington, MA-based Silverlink Communications for an undisclosed price. Welltok has raised a $45 million round of venture capital to help make the deal happen. The … Continue reading “Welltok Bolsters Growth With $45M Funding, Silverlink Acquisition”
NY Stem Cell Foundation Grows, Eyes Forming Big Apple Bio Incubator
Over the past few years, the first biotech startup incubators have popped up in New York City in places like Brooklyn and West Harlem. And there’s a chance the next one may come from an unlikely source: a nonprofit organization known as the New York Stem Cell Foundation. According to Susan Solomon, the CEO and … Continue reading “NY Stem Cell Foundation Grows, Eyes Forming Big Apple Bio Incubator”
Austin’s Stellarray Looks to Develop the Next Wave of X-Ray
Austin, TX’s Stellarray aims to democratize access to radiography. Right now, imaging machines like CT scanners are large, bulky, and expensive, and usually housed in major medical centers. “We’re taking an open architecture approach to radiography,” says Mark Eaton, Stellarray’s founder and CEO. “We want to make it affordable and portable.” Stellarray has developed imaging … Continue reading “Austin’s Stellarray Looks to Develop the Next Wave of X-Ray”
Bee App Offers Mobile Banking for Underserved Communities
Banks have long been looking to innovate in an industry that doesn’t change much and, in recent years, has been shrinking. Almost 1,900 bank branches closed in the U.S. in the years after the financial crisis between 2008 and 2013, according to data from Bloomberg News and the U.S. Census. New York-based One Financial Holdings, … Continue reading “Bee App Offers Mobile Banking for Underserved Communities”
New Madrona Venture Labs Startup ReplyYes Sells Via Text Messaging
Madrona Venture Labs’ latest spinout company is ReplyYes, a text-message-based retail service that promises a simple way for people to buy things like vinyl records. Madrona isn’t talking yet about the second company to emerge from its in-house effort to develop and validate business ideas, and then hand them off to operators to build into … Continue reading “New Madrona Venture Labs Startup ReplyYes Sells Via Text Messaging”
Arboretum Ventures, Duo Security Among MVCA’s 2015 Awardees
The Michigan Venture Capital Association (MVCA) held its annual awards ceremony on Monday to recognize the state’s top entrepreneurs, investors, and deals. The event drew a record crowd, the organization said in a blog post, and “focused on the tremendous growth of the entrepreneurial and investment community” in Michigan and across the region. Incoming MVCA board … Continue reading “Arboretum Ventures, Duo Security Among MVCA’s 2015 Awardees”
Global Hawk Tops Connect List of Most Innovative New Products
Connect, the San Diego nonprofit supporting local innovation and entrepreneurship, has bestowed its highest award for an innovative new technology or product to the Global Hawk, the long-range, high-altitude unmanned surveillance aircraft developed by Northrop Grumman. The aircraft was initially developed in San Diego by Teledyne Ryan under an Advanced Concept Technology Demonstration program sponsored … Continue reading “Global Hawk Tops Connect List of Most Innovative New Products”
Peloton Gets $75M More, Will Hire More Engineers & Develop New Tech
An even bigger engineering team, more showrooms, and a plan to expand beyond exercise bikes are on the way for New York-based Peloton. The company, which developed a stationary exercise bike with a built-in screen for streaming video classes, announced on Wednesday it got a $75 million investment from private equity firm Catterton to support its … Continue reading “Peloton Gets $75M More, Will Hire More Engineers & Develop New Tech”
WARF Leader Delays Retirement as Search For Replacement Continues
The search for a new leader of the Wisconsin Alumni Research Foundation is taking longer than planned. The nonprofit known as WARF manages patents and licensing for the research juggernaut that is the University of Wisconsin-Madison. WARF is one of the oldest university technology transfer organizations in the U.S. and manages a $2.6 billion endowment. … Continue reading “WARF Leader Delays Retirement as Search For Replacement Continues”
With $42M Deal, Evariant Goes Big in Health Marketing, Analytics
Hospitals worry about patient care, but they also worry about making money. Now one health IT company has more money of its own to bring to bear on the problem. Evariant, a Farmington, CT-based maker of healthcare marketing and analytics software, says today it has raised a $42.3 million Series C round. The deal was … Continue reading “With $42M Deal, Evariant Goes Big in Health Marketing, Analytics”
New Map Shows Expanding Seattle Tech Universe
If the crane-filled skyline, increasing home prices, worsening traffic, and competitive job market weren’t enough to tell you that Seattle’s tech economy is booming, a new map released Wednesday should do the trick. A previous star-chart-like depiction of the Seattle-area tech universe, released in 2009, helped investors, entrepreneurs, job seekers, and others visualize the region’s … Continue reading “New Map Shows Expanding Seattle Tech Universe”
Zafgen Shares Fall Again as Second Patient Dies in Trial
[Updated, 12/3/15, see below] A second patient on an experimental treatment from Boston-based Zafgen has died from a pulmonary embolism, casting even more doubt on the future of the drug. Zafgen (NASDAQ: [[ticker:ZFGN]]) said in a statement Wednesday morning that it learned on Tuesday that a patient with Prader-Willi Syndrome taking its drug, beloranib had … Continue reading “Zafgen Shares Fall Again as Second Patient Dies in Trial”
Led By Biotech Stars, ORIC Nabs $53M To Fight Drug-Resistant Cancer
Rich Heyman twice made hay developing drugs to treat cancers that depend on hormones to thrive. Now he’s trying it again with a new company markedly different than the previous two. Heyman (pictured) is interim CEO of ORIC Pharmaceuticals, a South San Francisco, CA-based startup that has drawn several biotech boldface names, as well as … Continue reading “Led By Biotech Stars, ORIC Nabs $53M To Fight Drug-Resistant Cancer”
Avecto Raises First External Funding with $49M from JMI Equity
JMI Equity, the specialized growth equity firm based in San Diego and Baltimore, has invested $49 million to establish a minority stake in Avecto, a U.K.-based network security firm that has established its U.S. headquarters in Somerville, MA. Avecto specializes in so-called endpoint security, an approach that protects a corporate network by focusing on the … Continue reading “Avecto Raises First External Funding with $49M from JMI Equity”
Milwaukee Peer-To-Peer Lender Sells Minority Stake, Raises New Fund
[Updated 12/2/15 11:09 am. to clarify LGI’s business model.] A Milwaukee-based startup known for lending money to individuals and small businesses made a sale Tuesday. The product? Itself. Looking Glass Investments (LGI) uses popular peer-to-peer lending websites such as Lending Club (NYSE: [[ticker:LC]]) to find and evaluate loan-seekers. The company sold some of its own … Continue reading “Milwaukee Peer-To-Peer Lender Sells Minority Stake, Raises New Fund”
One Month Tries Boot Camp Approach to Teach Founders How to Launch
An online school for entrepreneurs is starting a competition that seems to fall somewhere between a hackathon and full throttle accelerator. New York-based One Month already offers lessons in coding and app development, along with business courses on product management. This sounds akin to, say, Khan Academy or General Assembly, but with a special emphasis … Continue reading “One Month Tries Boot Camp Approach to Teach Founders How to Launch”
Austin Fintech Company Q2 Holdings Acquires Iowa Software Firm
Q2 Holdings, an Austin, TX, fintech company, announced Tuesday it has acquired Des Moines, IA-based Social Money for $10.6 million. Social Money makes cloud-based software that targets millennial consumers as well as populations called “underbanked,” who are frequently minorities or immigrants who do not interact with the mainstream financial sector. In particular, Social Money’s SmartyPig … Continue reading “Austin Fintech Company Q2 Holdings Acquires Iowa Software Firm”
LaGrasso Bros. Grows Local with Freight Farms Shipping Container
Detroit’s LaGrasso Bros. Produce started in 1914 with a single pushcart. Through the years, and three generations of family ownership, the food distribution company has grown to include a fleet of delivery trucks and a 40,000-square-foot refrigerated warehouse near Eastern Market. In September, the fourth generation of LaGrassos, Tom and Joe, installed a hydroponics operation—housed … Continue reading “LaGrasso Bros. Grows Local with Freight Farms Shipping Container”
What Three Biotechs Could Tell Us About The Pfizer-Allergan Merger
The long-speculated Pfizer-Allergan merger, announced last week with a $160 billion price tag, is officially in motion and lurching toward inevitability. Inevitability doesn’t equal certainty for many involved in the deal. Tens of thousands of employees could potentially get the axe, while dozens of smaller companies partnered with the two behemoths wait to see if … Continue reading “What Three Biotechs Could Tell Us About The Pfizer-Allergan Merger”
The Power of Big Data for Startups
These days, the National Football League, BMW, and Uber have something in common — they’re all experimenting with big data in exciting new ways. The NFL is using big data to help football fans track how fast and how far their favorite players sprint during a game. BMW is using big data to help drivers … Continue reading “The Power of Big Data for Startups”
Bioventus Fleshes Out Bone-Healing Portfolio with BioStructures Deal
Bioventus, a company that develops biological products aimed at helping bones heal, has acquired medical device company BioStructures in a move to expand its own offerings for bone graft surgeries. Durham, NC-based Bioventus disclosed no financial terms for the deal, which gives it access to BioStructures’ commercialized bone-healing products, along with technologies still in research … Continue reading “Bioventus Fleshes Out Bone-Healing Portfolio with BioStructures Deal”
GSK, Propeller Health Ink R&D Deal For Custom Respiratory Device
For better or worse, companies in seemingly every industry are starting to connect devices to the Internet, the idea being that data from the machines can provide fresh and useful insights. One example is Propeller Health, which makes data-collecting devices that snap onto medication inhalers used by asthma and chronic obstructive pulmonary disease (COPD) patients. … Continue reading “GSK, Propeller Health Ink R&D Deal For Custom Respiratory Device”
Boston Tech Watch: Jibo, LovePop, Harvest Power, Cleantech Open
This week, we’re tracking several Boston-area startup funding announcements, although some investors are being tight-lipped about the size of their bets. We’ve also got cleantech companies making waves at a national competition. Read on for details. —Waltham, MA-based Harvest Power raised another $20 million in a funding round led by previous investors True North Venture … Continue reading “Boston Tech Watch: Jibo, LovePop, Harvest Power, Cleantech Open”
Gates Leads Global Billionaires in Clean Energy Investment Pledge
In a bid to build momentum toward meaningful action on global climate change, Bill Gates announced a new coalition of global billionaires to back companies commercializing clean energy innovations. Those innovations would be achieved through government research and development funding, which 20 nations pledged to double in a related move. The Breakthrough Energy Coalition, announced … Continue reading “Gates Leads Global Billionaires in Clean Energy Investment Pledge”
Dallas’s Aristos Aims to Micro-Size Investment for Tech Startups
Felipe Mendoza’s first experience at a startup, Monterrey Networks, ended up with a sale to computing giant Cisco Systems. Exhilarated by success, Mendoza says he threw himself into another startup, one that “was not bought by Cisco.” Though the second startup was a bust, Mendoza says both experiences hooked him to entrepreneurship and the challenges … Continue reading “Dallas’s Aristos Aims to Micro-Size Investment for Tech Startups”
Human Longevity Buys Software Specialist Cypher Genomics
[Updated 11/30/2015 at 9:25 pm. See below.] Human Longevity, the San Diego startup founded by human genome pioneer J. Craig Venter, said today it has acquired San Diego-based Cypher Genomics. Financial terms were not disclosed. Cypher Genomics has developed software that it says can address a bottleneck in the practical use of whole genome sequencing by … Continue reading “Human Longevity Buys Software Specialist Cypher Genomics”
Ash & Anvil Officially Launches with Shirts for Shorter Guys
After a successful crowdfunding campaign earlier this year and a stint in Venture for America’s (VFA) first-ever startup accelerator, Detroit-based Ash & Anvil officially launched its retail operation this month. “Before, we were selling an idea,” Ash & Anvil co-founder Eric Huang said. “Our successful Indiegogo campaign proved that idea is valid.” What Ash & … Continue reading “Ash & Anvil Officially Launches with Shirts for Shorter Guys”
NinePoint, Under New Leadership, Bags $31M More For Imaging Tech
NinePoint Medical looks to have added roughly $31 million in financing to back its medical imaging technology. According to a regulatory filing, the Bedford, MA-based company has raised about $30.7 million in new venture funding and could add about $10 million more to the pot. The filing lists three investors: they appear to be founding … Continue reading “NinePoint, Under New Leadership, Bags $31M More For Imaging Tech”
Grab Your Cyber Monday Ticket to Enterprise Tech Strikes Back
Xconomy has a deal for you. In honor of Cyber Monday, we are running a one-day sale on our remaining tickets to this week’s big tech event in Boston. For today—and today only—all new tickets to Wednesday’s Enterprise Tech Strikes Back conference are 30 percent off if you register with the promo code CYBER. It’s … Continue reading “Grab Your Cyber Monday Ticket to Enterprise Tech Strikes Back”
Marijuana Marketplace Tradiv Finds a Home in Boulder
As marijuana becomes increasingly mainstream, the online marketplace is becoming the potrepreneur’s next frontier. Enter Colorado’s online marijuana wholesaler, Tradiv.com. Within a year of operating, the company has received $1 million from investors to launch its website and hire new employees, increasing its full-time staff to nine people. “We’re like Amazon for marijuana wholesalers,” said … Continue reading “Marijuana Marketplace Tradiv Finds a Home in Boulder”
BomBoard Seeks Crowdfunding Fuel to Propel Modular Jet Ski to Market
We’re about to see if BomBoard is finally ready to rev its engine, or if it will sputter. After spending several years developing a smaller, cheaper, and modular version of the traditional jet ski, the Whitewater, WI-based startup launched a crowdfunding campaign for the product today. And there’s a lot riding on it. The Indiegogo … Continue reading “BomBoard Seeks Crowdfunding Fuel to Propel Modular Jet Ski to Market”
Arrowhead, Baird, & UW-Madison: This Week’s Wisconsin Watch List
Before heading home to feast on turkey and spend time with family and loved ones, check out these recent headlines from Wisconsin’s innovation community: —Madison-based Arrowhead Research (NASDAQ: [[ticker:ARWR]]) released data last week that “strongly support” the advancement of its lead hepatitis B virus (HBV) drug candidate, the company said in a press release. The … Continue reading “Arrowhead, Baird, & UW-Madison: This Week’s Wisconsin Watch List”
Mobile Projectors, Pet Trackers, & 3D Printers Chase Mainstream Appeal
It is that time of year again when gadget shops go into high gear, cranking out shiny new devices in anticipation of the big day. A major event looms on the horizon that works the consumer electronics world into a lather—however, it is not Christmas, Chanukah, Kwanzaa, or even Festivus. No, this is the run-up season … Continue reading “Mobile Projectors, Pet Trackers, & 3D Printers Chase Mainstream Appeal”
At Cellular Dynamics, The Beat Goes On Under Fujifilm Ownership
Arne Thompson, an application support manager at Cellular Dynamics International, places a culture of manufactured human cells under a microscope. He points to a large screen above his head showing a close-up view of the lab dish contents. The cells are alive, pulsating in near perfect unison at a rate of about one beat per second. … Continue reading “At Cellular Dynamics, The Beat Goes On Under Fujifilm Ownership”
New Bio Fund Partner Describes A16Z Investment Strategy
When Marc Andreessen and Ben Horowitz founded their namesake venture firm in 2009, they laid out a clear-but-narrow vision for investing in a new wave of Web-based innovation. Andreessen, in particular, espoused a net-centric view that was absolute. “No clean tech, no rocket ships, no electric cars. No China or India,” he told Fortune magazine … Continue reading “New Bio Fund Partner Describes A16Z Investment Strategy”
Presage Nabs Cancer Rx To Test In Its Drug Cocktail Injection System
Cancer is an elusive foe. Rarely does a single therapy or intervention knock it out, which is why drug combinations are at the top of the agenda for doctors and researchers, even as cutting-edge treatments such as the latest immunotherapies move the field forward. Presage Biosciences of Seattle has created a way to test combinations … Continue reading “Presage Nabs Cancer Rx To Test In Its Drug Cocktail Injection System”
From Adviser to CEO: Morris Miller on Xenex’s Disinfecting Robots
When Xenex Disinfection Services was first launching, Morris Miller was an adviser to the company’s founders. Given his experience as a co-founder and former CEO of Rackspace, (NYSE: [[ticker:RAX]]), the San Antonio, TX-based cloud computing giant, Miller would provide insight into building a business from Xenex’s key product, a robot that uses pulses of xenon-based … Continue reading “From Adviser to CEO: Morris Miller on Xenex’s Disinfecting Robots”
Varsity News Network 2.0 Launches Early, & Other Recent MI News
Here’s a look at recent news from around Michigan’s innovation hubs: —When we last spoke to Grand Rapids-based Varsity News Network earlier this year, the company—which connects K-12 student athletes, parents, and coaches—told us it expected to release a “version 2.0” next year that would give users the ability to create profiles and share content. … Continue reading “Varsity News Network 2.0 Launches Early, & Other Recent MI News”
From Boston to Milwaukee, Lessons in Building Water Tech Clusters
Making a region synonymous with a particular industry requires patience, good timing, money, and taking the right approach to putting those pieces together. The same goes for building the organizations tasked with nurturing said industry. Take the New England Water Innovation Network (NEWIN), for example. The nonprofit aims to connect the region’s water technology startups … Continue reading “From Boston to Milwaukee, Lessons in Building Water Tech Clusters”
At Duchenne Panel, Parents Plead With Experts, FDA Decision Looms
In one of the more dramatic biotech events in recent memory, the FDA convened an advisory panel on Tuesday to weigh the risks and benefits of a drug called drisapersen, which has the chance to be the first FDA-approved treatment for Duchenne muscular dystrophy—a progressive, fatal genetic disease. The panel’s task was unusual, as far … Continue reading “At Duchenne Panel, Parents Plead With Experts, FDA Decision Looms”
Can Linking Money to the Internet of Things Make It a Real “Thing?”
With a few exceptions, the long-promised revolution of gadgets that know stuff about you and use that data to do stuff for you has been running nowhere on a hamster wheel. Yes, there are sexy, smart thermostats—for those who can afford them—that will automatically make homes toasty warm this winter before you leave work. Despite … Continue reading “Can Linking Money to the Internet of Things Make It a Real “Thing?””
Gener8tor Announces Latest Mini-Accelerator Class, Pitch Event
gBETA, a free, six-week program for “pre-seed” startups affiliated with colleges and universities in Wisconsin, unveiled its newest class Tuesday. The group draws from several industries, including biotech, wearables, and software. The class, the second in gBETA’s brief history, kicked off Oct. 17 and will culminate with a pitch event in Madison, WI, on Dec. 8. … Continue reading “Gener8tor Announces Latest Mini-Accelerator Class, Pitch Event”
TMC’s New Innovation Chief Aims to Boost Houston Biotech Ecosystem
A veteran of commercialization and tech transfer efforts at universities like Harvard and Tufts and Boston Children’s Hospital, Erik Halvorsen was, at first, puzzled at receiving an offer to lead those initiatives at the Texas Medical Center. “The Texas Medical Center? I had never heard of that hospital,” he says, laughing. “But, of course, I … Continue reading “TMC’s New Innovation Chief Aims to Boost Houston Biotech Ecosystem”
Will Startups or Big Companies Rule Tech? Find Out on Dec. 2
When we gather next week to talk about the future of technology, Actifio CEO Ash Ashutosh will kick things off by addressing what he calls the elephant in the room: that IT infrastructure is dead, and applications rule. A corollary to that is that the big tech companies that have dominated for decades could be … Continue reading “Will Startups or Big Companies Rule Tech? Find Out on Dec. 2”
Alexandria Rolls Out Plans for Its RTP Innovation Cluster
Alexandria Real Estate Equities’ vision to turn a mostly undeveloped property in Research Triangle Park into its latest life science cluster is moving forward with a first phase intended to boost offerings for early-stage startups. Pasadena, CA-based Alexandria (NYSE: [[ticker:ARE]]), which operates science and technology campuses across the country, announced the RTP plans today. Alexandria … Continue reading “Alexandria Rolls Out Plans for Its RTP Innovation Cluster”