[Corrected 10/29/15, 12:52 am. See below.] Boom or not, there’s always a need for startup capital in biotech. A new source is about to emerge. The founders of LabCentral and Cambridge BioLabs, well-known biotech incubators in Cambridge, MA, are on the verge of closing what they hope to be a $150 million early-stage fund for … Continue reading “LabCentral Backers Planning $150M Venture Fund For Biotech Startups”
Category: National
SolarWinds Bought for $4.5B in Austin’s Second Megadeal
Austin, TX has attracted attention for its rapid population growth in recent years. But after SolarWinds (NYSE: [[ticker:SWI]]) announced the region’s second multibillion-dollar deal this month, megamergers may be turning into Austin’s calling card. Private equity firms Thoma Bravo and Silver Lake Partners are taking Austin-based SolarWinds private in a deal valued at $4.5 billion. … Continue reading “SolarWinds Bought for $4.5B in Austin’s Second Megadeal”
Back to the Future of Innovation: Seattle 2035 Coming Oct. 30
Back to the Future II, released in 1989, sent Marty McFly and Dr. Emmett Brown to Oct. 21, 2015—which happens to be today. On Oct. 30, Xconomy is setting its DeLorean time machine for the year 2035 to explore the future of Seattle’s innovation economy. Hop in. The Internet is abuzz with Back to the … Continue reading “Back to the Future of Innovation: Seattle 2035 Coming Oct. 30”
Michigan Budget Battle Pits Startups Against Road Infrastructure
On Oct. 7, the entire staff of the Michigan Economic Development Corporation (MEDC), the state office in charge of tourism and economic development, gathered for the first time in months. Big changes are coming to the department—it recently announced layoffs as well as a 27 percent cut in its overall operating budget—and its leadership wanted … Continue reading “Michigan Budget Battle Pits Startups Against Road Infrastructure”
After EMC News, Michael Dell Plans Boston Home Purchase
A week after Round Rock, TX-based Dell announced it would buy EMC for $67 billion in the largest technology deal in history, founder and CEO Michael Dell says he is making another purchase: a new house in Massachusetts, where EMC is headquartered. Dell told Fortune at the annual Dell World event that he hopes to … Continue reading “After EMC News, Michael Dell Plans Boston Home Purchase”
Dennis Crowley at Street Fight Summit: Foursquare Always About Data
The original plan for Foursquare was not about building a check-in app—it was about data. Furthermore, creating a recommendation engine and software for navigating unfamiliar cities, based on said data, was always part of the agenda, said co-founder and CEO Dennis Crowley. “The point was to build something that connects little bits of data every … Continue reading “Dennis Crowley at Street Fight Summit: Foursquare Always About Data”
Verizon’s MapQuest Goes Mobile to Compete With Google, Apple Maps
MapQuest is still a thing? MapQuest is still a thing. The company that first introduced the world to turn-by-turn directions in the late ‘90s and early aughts is still around and getting people where they need to go, despite maintaining a quiet presence, well, just about everywhere. “’Is MapQuest still around?’ We hear that quite … Continue reading “Verizon’s MapQuest Goes Mobile to Compete With Google, Apple Maps”
PatientSafe Solutions Expands Strategy, Buys Merck’s Vree Health
San Diego’s PatientSafe Solutions, which specializes in mobile and digital health technologies, has acquired all assets of Vree Health, a Merck subsidiary in Annandale, NJ, focused on technologies and services to reduce hospital readmissions. Terms of the acquisition will not be disclosed, PatientSafe CEO Joe Condurso said by phone earlier this week. PatientSafe plans to … Continue reading “PatientSafe Solutions Expands Strategy, Buys Merck’s Vree Health”
Biogen to Cut 400 Jobs in Massachusetts in Big Restructuring
Biogen’s rise and fall this year has been symbolic of the sector’s bull run and recent retreat, which is why all eyes were squarely on the Cambridge, MA-based company’s latest sales numbers this morning. Those numbers beat expectations, but they were overcast by some bigger news: Biogen has hunkered down, and cut a bunch of … Continue reading “Biogen to Cut 400 Jobs in Massachusetts in Big Restructuring”
Seattle 2035: Startups Share your Predictions for Free Admission
Thanks to our generous sponsors, Xconomy is able to provide complimentary tickets to a number of startups for the Seattle 2035 conference on October 30 at Northeastern University-Seattle. In exchange for these tickets, we’re asking entrepreneurs to share their predictions for how Seattle might look in decades to come. We still have a few of these … Continue reading “Seattle 2035: Startups Share your Predictions for Free Admission”
Redox Nabs East Coast Money to Develop Plug-and-play Healthcare API
Redox, a Madison, WI-based healthtech startup whose software helps other developers integrate with patient record-keeping systems used at hospitals and clinics, has raised $3.5 million in a Series A funding round from East Coast and local investors, the company announced Tuesday. The new financing brings the total amount Redox has raised to about $4 million. … Continue reading “Redox Nabs East Coast Money to Develop Plug-and-play Healthcare API”
This New England Company Runs the Internet—And Now You Can, Too
Steve Case, the AOL co-founder and venture capitalist, had high praise for a tech company based in the fair city of Manchester, NH. Your staff is basically running the Internet from New Hampshire, he told a crowd at a recent event at Dyn’s headquarters (I’m paraphrasing). Dyn is an Internet infrastructure firm born just after … Continue reading “This New England Company Runs the Internet—And Now You Can, Too”
Humacyte Lands $150M Series B for Phase 3 Study of Lab-Grown Veins
Regenerative medicine company Humacyte has nabbed $150 million in financing to take its lab-grown blood vessels into late-stage testing. The funding for the Research Triangle Park, NC-based company comes from a group of new and existing investors including Access Industries, Bangkok Bank Public Company Ltd., Pacific Eagle Asset Management, Reignwood Group, and individual investors Brady … Continue reading “Humacyte Lands $150M Series B for Phase 3 Study of Lab-Grown Veins”
Welltok Buys Children’s Health Tool Zamzee From HopeLab
Welltok has acquired a health tool for children and their families called Zamzee that it plans to incorporate into its health optimization software called CaféWell. Terms of the deal weren’t disclosed. Zamzee attempts to engage children through games, allowing them to use an activity tracker as they attempt to complete challenges that require physical activity. … Continue reading “Welltok Buys Children’s Health Tool Zamzee From HopeLab”
Denver’s ReadyTalk Launches Mobile Video Conferencing Tool
The list of video chatting options just got longer. ReadyTalk, a Denver-based audio- and Web-conferencing service provider, is launching a new mobile-focused product that targets small businesses and millennials. The move is an attempt to land customers who might otherwise use competing services, like Google Hangouts. ReadyTalk announced today that it has opened a public … Continue reading “Denver’s ReadyTalk Launches Mobile Video Conferencing Tool”
Cancer Vaccines Back in Vogue as VCs Put $102M Into Gritstone Oncology
Not long ago making an effective cancer vaccine seemed like a dead-end proposition, but that sentiment is changing. The latest evidence: Gritstone Oncology, which makes its debut today with a massive Series A financing. Gritstone has raised a $102 million Series A round led by Versant Ventures and The Column Group. Others pitching in include … Continue reading “Cancer Vaccines Back in Vogue as VCs Put $102M Into Gritstone Oncology”
What’s Your DNA Worth? The Scramble To Cash In On the Genome
The consumer genome. You’ll hear that phrase enough the next couple years that it will gain both the weight and lightness of inevitability. It will feel inevitable because, as we’ve been hearing for years now, DNA is just another long string of crunchable, malleable, transportable code, so it’s just the next destination for the digital … Continue reading “What’s Your DNA Worth? The Scramble To Cash In On the Genome”
Mimecast Adds to (Slight) Tech IPO Momentum in Down Year
The tech IPO pipeline has a pulse after all. Last week, a burst of tech companies going public, or announcing plans to do so, brought a bit of excitement in a slow year for tech IPOs. The headline grabbers were Square filing for a $275 million initial public offering and First Data raising $2.6 billion … Continue reading “Mimecast Adds to (Slight) Tech IPO Momentum in Down Year”
Wisconsin Roundup: Promega, Protein Foundry, Orbitec, & More
Here are some of the past week’s major headlines from Wisconsin’s tech and innovation community: —Representatives of an investment bank told Promega shareholders that the offer from activist shareholders to purchase the Madison-area biotech, first reported in August, is lower than similar industry transactions, the Milwaukee Journal Sentinel reported. The $625-a-share bid is about 12 … Continue reading “Wisconsin Roundup: Promega, Protein Foundry, Orbitec, & More”
Ag-Tech Incubator Lures Sponsors, Startups With Unusual Model
A West Michigan incubator that helps farmers and entrepreneurs turn their ag-tech ideas into businesses is trying to get the word out about the program’s first year in hopes of attracting more sponsors. In the past year, the Great Lakes Ag-Tech Business Incubator launched a handful of startups and hammered out an unusual financing model … Continue reading “Ag-Tech Incubator Lures Sponsors, Startups With Unusual Model”
As SEC Mulls Equity Crowdfunding, CA Entrepreneurs Test Other Options
California is one of the dominant U.S. producers of fruits, nuts, vegetables—and tech startups. In the Silicon Valley, the startups sprouting up each season are nurtured by a host of accelerators and incubators as well as VCs and angel investors providing seed funding. That still leaves some startups hungry for cash, but California is not … Continue reading “As SEC Mulls Equity Crowdfunding, CA Entrepreneurs Test Other Options”
Y Combinator, AngelList, Techstars Shake Up VC World With Big Funds
[Updated 10/19/15, 2:26 pm, with comments from Y Combinator.] Y Combinator, the 10-year-old pioneer of the now-ubiquitous startup seed accelerator model, is evolving to invest in later-stage companies that have graduated its program. The question is what happens when early-stage accelerators enter the space normally occupied by traditional venture capital firms. Clearly, it opens up … Continue reading “Y Combinator, AngelList, Techstars Shake Up VC World With Big Funds”
Stocktoberfest Moves Fintech Guru Howard Lindzon to Center Stage
[Corrected 10/20/15, 11:20 am. See below.] A short version of Howard Lindzon’s bio on Angel’s List says he is the CEO and co-founder of StockTwits (a platform for tweeting stock market ideas and insights) and a general partner of Social Leverage, an angel investment fund that has invested in at least 30 startups (according to … Continue reading “Stocktoberfest Moves Fintech Guru Howard Lindzon to Center Stage”
Dining Payment App Reserve Tries to Book a Spot on More Phones
It is getting more crowded at the table for apps used to pay restaurant checks via mobile devices, but New York-based Reserve believes it provides a broader range of services than its rivals. I met up with Reserve’s CEO Greg Hong (pictured above) on Friday before he spoke at the tail end of the Techweek New … Continue reading “Dining Payment App Reserve Tries to Book a Spot on More Phones”
Genocea Ditches Pneumococcus Vaccine After Phase 2 Flop, Shares Fall
Genocea Biosciences may develop a successful vaccine someday, but given results the Cambridge, MA-based company revealed this morning, it will likely be for something other than pneumococcus. Genocea’s (NASDAQ: [[GNCA]]) experimental vaccine for pneumococcus, a treatment called GEN-004, failed a mid-stage trial. Though Genocea claimed the vaccine reduced the “rate and density” of the colonization … Continue reading “Genocea Ditches Pneumococcus Vaccine After Phase 2 Flop, Shares Fall”
Could North Carolina’s Next Wave of Innovation Come From the Sea?
Diabetics may someday be able to ditch daily needle sticks and opt instead for a less frequent injection of tiny insulin-bearing particles to manage their blood sugar. Key to this experimental drug delivery method is the source material: shrimp shells and seaweed. This nanoparticle technology, developed in labs at the joint biomedical engineering program at … Continue reading “Could North Carolina’s Next Wave of Innovation Come From the Sea?”
To Curb Brain Damage, Astrocyte Pharmaceuticals Energizes Cells
One of the most devastating things about stroke and head trauma is that the damage to the brain often doesn’t end when the initial injury does. Though time really does heal many wounds, brain injuries can get progressively worse in the hours and days after a trauma, as changes in blood flow and other processes … Continue reading “To Curb Brain Damage, Astrocyte Pharmaceuticals Energizes Cells”
Discovery Over Dogma at Today’s Innovative University
There’s a rich and often controversial conversation going on right now about the role that colleges and universities should play in preparing students—and our society—for the future. One of the most provocative voices in this discussion belongs to David Brooks, the always-thoughtful and always sensitive columnist for The New York Times. Recently, Brooks advanced the … Continue reading “Discovery Over Dogma at Today’s Innovative University”
3 Reasons App Startup Amino Planted Roots in Boston & China
Running a company that has employees located on opposite sides of the globe can be a daunting endeavor fraught with logistical challenges and the occasional cultural disconnect. Those potential pitfalls didn’t faze Amino, the mobile app startup that has firmly planted one foot in Boston and the other in Shanghai, China. It helps that co-founder … Continue reading “3 Reasons App Startup Amino Planted Roots in Boston & China”
Apple Ordered to Pay $234M in UW-Madison Patent Infringement Case
Apple has been ordered to pay $234.2 million in damages for infringing on a patent held by the foundation that manages intellectual property for the University of Wisconsin-Madison, Reuters reported Friday. The amount the jury settled on is less than the $400 million the Wisconsin Alumni Research Foundation (WARF) was seeking. The verdict was returned … Continue reading “Apple Ordered to Pay $234M in UW-Madison Patent Infringement Case”
Marquette’s New Seed Fund Underscores Entrepreneurship Push
Only time will tell if Mike Lovell can help turn Marquette University into an engine for entrepreneurship, but he certainly hasn’t been resting on his laurels. When Lovell was introduced as Marquette’s new president in September 2014, he unveiled a $5 million “Strategic Innovation Fund” to invest in entrepreneurial initiatives on campus. The announcement signaled … Continue reading “Marquette’s New Seed Fund Underscores Entrepreneurship Push”
Seattle Roundup: Simply Measured, Keiretsu + ZINO, Fledge, & More
Catching up this week on another acquisition by Simply Measured, a tie-up of two Northwest angel investing groups, a milestone for “conscious company incubator” Fledge, funding for mobile app developer AppSheet, a new technology licensing program from NASA, and news from Spaceflight, Allrecipes, and Impinj. Details: —Simply Measured, a Seattle-based social media analytics company, made … Continue reading “Seattle Roundup: Simply Measured, Keiretsu + ZINO, Fledge, & More”
Cempra Antibiotic Hits Phase 3 Target, FDA Filing Planned
Cempra’s next-generation antibiotic, which has been touted as a potential blockbuster, is moving toward an FDA filing on news that the drug achieved positive results in a Phase 3 clinical trial. Chapel Hill, NC-based Cempra (NASDAQ: [[ticker:CEMP]]) said this morning that an intravenous form of its drug, solithromycin, was successful treating patients with community-acquired bacterial … Continue reading “Cempra Antibiotic Hits Phase 3 Target, FDA Filing Planned”
Investors Back B2B, Cybersecurity, Edtech, Mental Health Tech
San Francisco-based website testing company Optimizely scored one of the biggest funding rounds in Bay Area tech this week—and the idea of “optimizing” would make a good theme for the other companies that also picked up some cash. —Optimizely, which figures out which alternate versions of a website will appeal most to a client’s target … Continue reading “Investors Back B2B, Cybersecurity, Edtech, Mental Health Tech”
Taking a Peek Inside Facebook New York and Its Virtual Reality Future
Is there more to Facebook than status updates and likes? The short answer is yes, and not just because of acquisitions such as Oculus VR (though that does factor into its plans). This week, Facebook invited a group of reporters, including yours truly, to visit its New York office, where a sizeable chunk of its … Continue reading “Taking a Peek Inside Facebook New York and Its Virtual Reality Future”
East Coast Biotech Roundup: Zafgen, Decibel, Voyager & More
Biotech investing isn’t for the faint of heart. Just ask those who put money into Zafgen this week. The company lost 60 percent of its value in two days without reporting any news, gained some of it back, and then plummeted again. How about investors of PTC Therapeutics? On a failed trial, shares initially fell … Continue reading “East Coast Biotech Roundup: Zafgen, Decibel, Voyager & More”
FDA Puts a Hold on Zafgen’s Obesity Drug, Shares Slide
[Updated, 9:17 am ET] Zafgen confirmed this morning that the patient who died in its Phase 3 trial was indeed on its obesity drug, beloranib. While Zafgen (NASDAQ: [[ticker:ZFGN]]) still doesn’t know what caused the death of the Prader-Willi Syndrome patient who took beloranib in the trial, the FDA has stepped in nonetheless. The agency … Continue reading “FDA Puts a Hold on Zafgen’s Obesity Drug, Shares Slide”
WSU’s New IBio Center Plans Holistic Approach to Urban Health Issues
Wayne State University held a grand-opening ceremony Wednesday for its new $93 million Integrative Biosciences Center (IBio), situated on a formerly abandoned 2.7-acre block in Detroit’s Midtown neighborhood. Mike Brinich, WSU’s associate director of communications, says the facility will be the first of its size and kind, due to its holistic approach to studying and … Continue reading “WSU’s New IBio Center Plans Holistic Approach to Urban Health Issues”
Retaking Control of the Hotel Digital Experience
The digital entertainment landscape is constantly changing and the rapid adoption of mobile devices coupled with cloud-based platforms has revolutionized how people consume TV. This has led to significant challenges, particularly in the hospitality industry where companies are struggling to adapt to the changing demands of their consumers. But with change comes opportunity. The ability … Continue reading “Retaking Control of the Hotel Digital Experience”
Wisconsin Beertech: SpotHopper Adds Marketing Biz to Suck in Bar Data
Here’s an interesting case study of how a consumer-app startup is going about attracting users while also picking up customers in the food and beverage industry. Next up in our series on Wisconsin beertech companies: SpotHopper. The Milwaukee-based startup pitches its mobile app as a sort of Pandora for bar hoppers. Answer a few questions … Continue reading “Wisconsin Beertech: SpotHopper Adds Marketing Biz to Suck in Bar Data”
Aquto CEO Talks Parenting, Tech Bubble, Mobile Engagement
Susie Kim Riley likes to compare entrepreneurship with childbirth. “When you’re in the throes of it, you’re like, ‘Oh my God, I’m never doing it again,” the mother of two says. “Then you have the kid, things are wonderful, and you’re like, ‘Hey, let’s do it again.’” Just as Riley and her husband decided to … Continue reading “Aquto CEO Talks Parenting, Tech Bubble, Mobile Engagement”
MoneyTree: Energy Investment Falling, While Biotech Climbs in Texas
Low oil prices have taken a hit on the energy innovation scene. According to MoneyTree, investment in energy and industrial deals in Texas for the third quarter of the year have dropped sharply, pointing to year-end numbers for 2015 that would be a fourth of the nearly $400 million invested last year. So far this … Continue reading “MoneyTree: Energy Investment Falling, While Biotech Climbs in Texas”
Q3 Venture Funding Surges Near Record Levels, and Top 10 Deals
Buoyed by some giant deals, venture capital continues to flow at near-record levels in 2015, according to just-released data from two nationwide surveys that track quarterly VC activity. While the $16.3 billion that venture firms put into 1,070 deals in the third quarter was down a notch from the previous quarter, according to the MoneyTree … Continue reading “Q3 Venture Funding Surges Near Record Levels, and Top 10 Deals”
PTC Unveils Mixed Duchenne Results, But Plots an FDA Filing
It’s a three-way race to produce the first drug for Duchenne muscular dystrophy in the U.S., and none of the competitors is sprinting to the finish. PTC Therapeutics (NASDAQ: [[ticker:PTCT]]) of South Plainfield, NJ, said today that its drug ataluren (Translarna) failed to meet its primary goal in a 228-person Phase 3 trial. Yet PTC … Continue reading “PTC Unveils Mixed Duchenne Results, But Plots an FDA Filing”
West Coast Biotech Roundup: Audentes, Fate, Zosano & More
When 23andMe said Wednesday it had raised $115 million in a new venture capital round, Reuters reported that the round implied a total valuation of $1.1 billion for the genomics company—making 23andMe a new member of the rare and wondrous (and growing) unicorn club. (The Wall Street Journal has listed the Mountain View, CA-based company … Continue reading “West Coast Biotech Roundup: Audentes, Fate, Zosano & More”
WI Startups Try to Grab Silicon Valley’s Gaze in 2nd Annual Trip
The startup scene in Madison, WI, is barely a blip on the radar for most Silicon Valley venture capitalists, but local business advocates are once again trying to attract investors’ attention by bringing a cohort of Badger State startups to the West Coast. Five Madison startups will fly to the San Francisco Bay Area Oct. 20 … Continue reading “WI Startups Try to Grab Silicon Valley’s Gaze in 2nd Annual Trip”
Fresh Off of Dell Deal, VMware Buys Austin E-Mail Startup Boxer
Computing giant VMware has bought e-mail management software developer Boxer. Terms of the deal were not disclosed. Picking up the Austin, TX-based company will help VMware to offer services that are “consumer simple, enterprise secure,” writes VMware CTO Noah Wasmer on the company’s blog. Palo Alto, CA-based VMware (NYSE: [[ticker:VMW]]) plans to pair Boxer’s services … Continue reading “Fresh Off of Dell Deal, VMware Buys Austin E-Mail Startup Boxer”
Is the Hit TV Series “Mr. Robot” an Accurate Portrayal of Hackers?
This summer, USA Network premiered the series Mr. Robot, a drama/thriller that uses computer security and hacking as plot devices. Elliot Alderson, the protagonist, is a reclusive computer security professional who suffers from social anxiety disorder and delusions. When someone triggers his curiosity, he hacks their online accounts, from social media to bank accounts, in … Continue reading “Is the Hit TV Series “Mr. Robot” an Accurate Portrayal of Hackers?”
Agenda Live for Our Healthcare Summit Nov. 17 at the Broad Institute
It’s fall, and when it comes to healthcare, you may be thinking it’s flu shot season. But here at Xconomy, besides getting our shots, we are excited that it’s almost time for our annual Healthcare Summit in Boston. The third iteration of this great event is coming up on November 17 at the Broad Institute … Continue reading “Agenda Live for Our Healthcare Summit Nov. 17 at the Broad Institute”
Five Prime, Bristol Shake Hands Again in New $350M Cancer Pact
Apparently Bristol-Myers Squibb liked what it saw when it teamed with Five Prime Therapeutics to co-develop some cancer drugs last year, because the big New York pharma company just plunked down a lot more cash to take at least one of them forward on its own. South San Francisco-based Five Prime (NASDAQ: [[ticker:FPRX]]) said this … Continue reading “Five Prime, Bristol Shake Hands Again in New $350M Cancer Pact”