Runaway valuations and the piles of money pouring into hot tech startups grab lots of headlines these days. That can make it easy to forget about traditional small businesses that might not have as much job-growth potential as startups, but still play an important role in the economy, especially in cities like Detroit. Many in … Continue reading “Entrepreneurs of Color Fund Seeks Minority-Owned Small Businesses”
Category: National
No Drug Yet In Clinic, But CytomX Raises $80M In Discounted IPO
CytomX Therapeutics has fought through biotech’s downward slide to emerge as a public company. The South San Francisco, CA-based drug maker raised $80 million in its initial public offering, and its shares should start trading on the Nasdaq Thursday under the symbol CTMX. The firm sold 6.7 million shares at $12 apiece. Last week, CytomX … Continue reading “No Drug Yet In Clinic, But CytomX Raises $80M In Discounted IPO”
ERA Summer 2015 Class Graduates With Ideas in Fintech, Croissants
With its ninth class, which graduated at a demo day held Tuesday, the Entrepreneurs Roundtable Accelerator in New York saw the expected eclectic mix of ideas, which ranged from an online home design marketplace to a way for food distributors to automate ordering and other services. This time around the program also saw a pair … Continue reading “ERA Summer 2015 Class Graduates With Ideas in Fintech, Croissants”
Genocea Climbs on Follow-Up Data for Herpes Vaccine
It hasn’t all been smooth sailing for Genocea Biosciences as it tries to prove the worth of a new, quick-hit vaccine technology. The company currently trades well under its 2014 IPO price, and hasn’t been able to break out like some other biotechs in the recent boom. But the Cambridge, MA-based company is getting some … Continue reading “Genocea Climbs on Follow-Up Data for Herpes Vaccine”
CyberArk’s $30.5M Viewfinity Deal Continues Cybersecurity Alliances
[Corrected 10/7/15, 12:46 p.m. See below.] It’s been a busy week for consolidation in the cybersecurity industry. CyberArk (NASDAQ: [[ticker:CYBR]]) said today it will acquire Waltham, MA-based Viewfinity for $30.5 million in cash. The tie-up follows yesterday’s announcement that Waltham-based Digital Guardian has acquired Code Green Networks, a Silicon Valley data-protection firm, for an undisclosed … Continue reading “CyberArk’s $30.5M Viewfinity Deal Continues Cybersecurity Alliances”
Social Media Gets Retailers’ Help to Make Users ‘Buy Now’
Online shoppers have been nudged and poked by companies like Google and Amazon for years to make purchases, with targeted ads based on recent online searches that offer the user the chance to buy the same or similar products. The use of “buy now” services are expanding rapidly, and companies like Twitter are leading the … Continue reading “Social Media Gets Retailers’ Help to Make Users ‘Buy Now’”
Zipcar and LogMeIn Veterans Out to Reshape Car Insurance With Censio
Remember when drivers talking on cell phones were annoying? OK, they still are—but at least that usually means they aren’t looking down at their screen as they plow into a bike, pedestrian, or your car. Distracted drivers are the worst. Now they’re the target of a Boston startup that’s using—guess what—smartphones and apps to monitor … Continue reading “Zipcar and LogMeIn Veterans Out to Reshape Car Insurance With Censio”
AppDirect’s $140M Series E Follows Closely on $50M Round
App marketplace maker AppDirect, which raised $50 million early this year and recently announced its fourth acquisition, announced today that it has added another $140 million to its coffers and signed up J.P. Morgan as its newest investor. The San Francisco-based company creates online storefronts where Web-based software makers like Microsoft and software re-sellers like … Continue reading “AppDirect’s $140M Series E Follows Closely on $50M Round”
Biopharma CEOs, VCs, and Hedge Fund Managers: Fifty Shades of Greed
I just returned from a family vacation and was going through my accumulated mail. I got a notice that the terms of my auto loan were being adjusted. Instead of paying $300 a month, I was shocked to find out that I would now be paying $16,667 per month. My car company (the lender) explained … Continue reading “Biopharma CEOs, VCs, and Hedge Fund Managers: Fifty Shades of Greed”
Renaissance Futurism: Liberal Arts for the 21st Century
There is a lot of debate about whether college is worth the investment, and many discount the value of a liberal arts degree at any price. While professional or pre-professional degrees, such as business or pre-law, often lead to high starting salaries, a January 2014 analysis of census data reports that “at peak earnings ages … Continue reading “Renaissance Futurism: Liberal Arts for the 21st Century”
Exact Sciences Shares Plunge, Questions Arise for Insurers, Doctors
Wall Street punished Exact Sciences on Tuesday for an unexpected federal guideline that proposes to identify its colorectal cancer diagnostic product as an “alternative” screening method, leaving it out of a group of recommended tests. Exact (NASDAQ: [[ticker:EXAS]]) stock closed Tuesday at $9.98 per share, down a whopping 46 percent from the previous day’s close … Continue reading “Exact Sciences Shares Plunge, Questions Arise for Insurers, Doctors”
Emida Buys San Diego-based Quippi and Its Gift Card Business
Emida, an Orange County company that specializes in serving the global prepayment industry, said today it is acquiring Quippi, a San Diego startup that offers pre-paid gift cards in Mexico as a no-fee alternative to international money transfers. Financial terms of the deal were not disclosed. Quippi founder Michael Aleles declined to even tell me … Continue reading “Emida Buys San Diego-based Quippi and Its Gift Card Business”
Northeast WI Angel Investor Group Launches to Create, Fund Spinoffs
You could call Al Zeise a spin doctor, though not in the traditional sense of the term. Throughout his career, Zeise has proven adept at corporate spinoffs. Over the past two decades, the entrepreneur has founded or co-founded at least 10 companies in the Green Bay, WI, area. Many of them have come about in … Continue reading “Northeast WI Angel Investor Group Launches to Create, Fund Spinoffs”
Ex-MakerBot Crew Creates Voodoo Manufacturing to Go Beyond 3D Printing
Taking a few lessons learned before and during their time at MakerBot, the founders of Brooklyn-based Voodoo Manufacturing are trying to prove they can turn 3D printing and related services into a scalable business. On Tuesday, Voodoo unveiled its printing outflow service, which lets businesses and makers upload files and get an instant quote on producing … Continue reading “Ex-MakerBot Crew Creates Voodoo Manufacturing to Go Beyond 3D Printing”
Texas Roundup: RunTitle, BioHouston, Civitas, OncoReponse, DNAtrix
Let’s get caught up with the latest innovation news from around Texas: —Austin, TX-based RunTitle has raised $8 million in venture capital. San Francisco-based Founders Fund led the round with investments from Deep Fork Capital and Austin Ventures, among others. RunTitle has digitized mineral-rights records and was in Houston’s Surge cleantech accelerator two years ago. … Continue reading “Texas Roundup: RunTitle, BioHouston, Civitas, OncoReponse, DNAtrix”
Breakout Labs Welcomes Startups in Food, Health, Metals, Adhesives
Car parts that don’t get wet or rust, a nano-glue that won’t damage walls, sensors that detect food freshness, and people who stay healthy as they age. These are the goals of four new startup companies just chosen to receive funding and other support from Breakout Labs, a seed-stage revolving fund operated by the Thiel … Continue reading “Breakout Labs Welcomes Startups in Food, Health, Metals, Adhesives”
Driver-Monitoring App for Insurers Censio Rolls into $10M Series A
Censio, the Boston startup that recently announced a connected car app for insurance provider Progressive, has raised a $10 million Series A funding round to further develop its technology and fulfill the needs of its first partner. Founded in 2012 by a group that includes former Zipcar CEO Scott Griffith, Censio gathers data through its … Continue reading “Driver-Monitoring App for Insurers Censio Rolls into $10M Series A”
Raleigh-Durham Roundup: RTP Park Center, Liquidia, Novan, & More
Here are the highlights in life science news as the Carolinas starts to dry out from a soggy 12 straight days of rain: —The Research Triangle Foundation, which manages Research Triangle Park, secured $50 million from public and private sources to finance the first phase of Park Center, a redevelopment project that will bring a … Continue reading “Raleigh-Durham Roundup: RTP Park Center, Liquidia, Novan, & More”
BioHouston’s Northcut Steps Down, Tanabe Becomes CEO
Jacqueline Northcut, the chief executive officer of BioHouston, announced Tuesday she has resigned. The organization said that chief operating officer Ann Tanabe will assume the top post. In a separate e-mail to contacts, Northcut said she has not yet decided on her next steps. “I am proud of the work that has been accomplished during … Continue reading “BioHouston’s Northcut Steps Down, Tanabe Becomes CEO”
Exact Sciences Shares Crater After Disappointing Federal Decision
Exact Sciences is getting pummeled on Wall Street after an unexpected result in a long-awaited federal report that positions the company’s colorectal cancer diagnostic product as an “alternative” screening method—instead of putting it in a more coveted group of recommended tests. Shares of Madison, WI-based Exact (NASDAQ: [[ticker:EXAS]]) sank below $11 per share this morning, … Continue reading “Exact Sciences Shares Crater After Disappointing Federal Decision”
Digital Guardian Buys Code Green as Security Industry Consolidates
A local cybersecurity company is on the move amid larger market forces: Waltham, MA-based Digital Guardian has acquired Code Green Networks, a data-protection firm headquartered in Silicon Valley, for an undisclosed sum. This is Digital Guardian’s third acquisition in the past year, following deals with Armor5 and Savant Protection. The company now has 275 employees, … Continue reading “Digital Guardian Buys Code Green as Security Industry Consolidates”
Houston’s M.D. Anderson, Theraclone Launch Immunotherapy Startup
A Seattle biotech and the University of Texas M.D. Anderson Cancer Center announced the formation of a new company seeking to find personalized antibodies that help fight cancer. The new company, OncoResponse, will be based in Houston and is a joint venture between the Houston cancer institution and Theraclone, a therapeutic antibody discovery company that … Continue reading “Houston’s M.D. Anderson, Theraclone Launch Immunotherapy Startup”
Amid Nobel Prize Suspense, Making Sense Of Latest Gene-Editing News
There was a meeting Monday in Washington, D.C., to discuss some of the latest advances in gene editing, a field that has profound medical, agricultural, social, and ethical implications for society. At the lunch break, the webcast played over and over a genteel piece of classical music—Albinoni’s string concerto No. 4 in G major, to … Continue reading “Amid Nobel Prize Suspense, Making Sense Of Latest Gene-Editing News”
LogMeIn Makes Case for Internet of Things at Tech-Celebrity Gala
There are a lot of ballyhooed tech sectors right now, perhaps none more hyped than the “Internet of Things”—the movement to connect machines to the Internet so they can, essentially, talk to each other and to us. That excitement was on display last week in Boston at “Xperience,” LogMeIn’s business conference that explored IoT innovation … Continue reading “LogMeIn Makes Case for Internet of Things at Tech-Celebrity Gala”
Boston’s Life Science Disruptors 2015: The Photos
On Friday, I gave you all a recap of our latest biotech event, “Boston’s Life Science Disruptors.” As promised, today I’m circling back with some of the photos. As you’ll see, last week’s Boston monsoon cleared up just in time for the party. Thanks again to our sponsors—BDO, Boston Children’s Hospital, Johnson & Johnson Innovation, … Continue reading “Boston’s Life Science Disruptors 2015: The Photos”
Arena Pharmaceuticals’ Board Asks CEO Jack Lief to Retire
San Diego-based Arena Pharmaceuticals (NASDAQ: [[ticker:ARNA]]) said that Jack Lief, who has served as Arena’s president and CEO since 1997, has retired from the company and left Arena’s board of directors—effective today—at the request of the company’s board. Lief co-founded Arena 18 years ago with Dominic Behan, a scientist now serving as Arena’s executive vice … Continue reading “Arena Pharmaceuticals’ Board Asks CEO Jack Lief to Retire”
Stratatech Awarded $247M to Develop Skin Tissue for Treating Burns
Cell-based human skin tissue maker Stratatech will receive up to $247 million over five years as part of a federal contract it signed in 2013 that has since been expanded, the company announced Monday. Madison, WI-based Stratatech said it will use the money to continue Phase 3 clinical trials of StrataGraft, its flagship skin replacement product for … Continue reading “Stratatech Awarded $247M to Develop Skin Tissue for Treating Burns”
Seattle Roundup: Dolly, ISB, Machine Learning, & More
Before Monday Night Football gridlocks Seattle traffic (The Seahawks at home against the Lions), let’s catch up on a few interesting items from the last week. Read on for details of Dolly’s Series A funding; a grant for “scientific wellness” to the Institute for Systems Biology; Microsoft Venture’s next startup accelerator topic: machine learning; Dato’s … Continue reading “Seattle Roundup: Dolly, ISB, Machine Learning, & More”
PathSense Finds Way to Grand Prize in “Quick Pitch” Competition
PathSense, a suburban San Diego startup using a “sensor fusion” approach to provide an alternative to battery-draining GPS location technology for mobile devices, was the grand prize winner last week at the San Diego Tech Coast Angels’ ninth annual “Quick Pitch” event. The Cardiff, CA-based company uses a proprietary “predictive routing algorithm” and machine learning … Continue reading “PathSense Finds Way to Grand Prize in “Quick Pitch” Competition”
Michigan Roundup: Automation Alley, MSU, U-M, Xuriden & More
Here’s a look at innovation news from around Michigan: —Automation Alley, the Troy-based technology and business organization, has opened its 7Cs program—which helps early-stage companies connect to their first customers—to mid-stage companies. Any tech- or manufacturing-based company with between five and 100 employees in need of sales training or team building is eligible for the … Continue reading “Michigan Roundup: Automation Alley, MSU, U-M, Xuriden & More”
Dallas-Fort Worth Aims to Boost Life Sciences Ecosystem
North Texas bio ecosystem, know thyself. That was the goal last week at a conference sponsored by the newly reconstituted Bio North Texas, an advocacy group that is promoting life science commercialization in the Dallas-Fort Worth area. “There really is a lot more going on here” when you stop to take a look, says Melissa … Continue reading “Dallas-Fort Worth Aims to Boost Life Sciences Ecosystem”
AtriCure to Buy Heart Device Developer nContact for $99M
NContact, a medical device company focused on treatments for heart rhythm disorders, is set to be acquired by AtriCure in a cash and stock deal valued at $99 million. AtriCure (NASDAQ: [[ticker:ATRC]]), a company that also focuses on devices treating arrhythmias, says it entered into a definitive agreement to acquire Morrisville, NC-based nContact for $91 … Continue reading “AtriCure to Buy Heart Device Developer nContact for $99M”
Logz.io, With Backers in Boston & Israel, Aims to Sniff Out IT Bugs
If you had trouble streaming a video on Netflix or posting in a Reddit thread on Sept. 20, you can thank an Amazon Web Services outage that impacted a number of apps and websites for a few hours. These types of outages are only minor annoyances for most people, but they can have real effects … Continue reading “Logz.io, With Backers in Boston & Israel, Aims to Sniff Out IT Bugs”
From Dance Clubs to Syn Bio: MIT’s Collins on Startups, Second Chances
It happens over and over again with new science. A discovery prompts crazy hype and massive investment that the data aren’t ready to support. A crash ensues, backers lose millions, egos are bruised—yet the pioneers slowly trudge forward. They regroup, away from the limelight, and try to learn from failure. When it comes to synthetic … Continue reading “From Dance Clubs to Syn Bio: MIT’s Collins on Startups, Second Chances”
IRobot, Bissell, & the Robot Vacuum Wars Come to Pepcom Gadget Show
Competition can be seen as an intense form of flattery—and in the world of consumer electronics, clones and copycats of popular products are almost inevitable. There was plenty to see at this week’s Pepcom Holiday Spectacular in New York, from Marvel’s Avengers fighting villains to a smartwatch with old-school style (see slideshow above). IRobot brought … Continue reading “IRobot, Bissell, & the Robot Vacuum Wars Come to Pepcom Gadget Show”
Campless Decamps to Detroit, Plans Expansion Into Other Collectibles
Perhaps the most unexpected revelation to come out of the demo day event held by Detroit Venture Partners a few weeks ago was that Campless, a Philadelphia-based website that calls itself “the Kelley Blue Book for sneakers,” had been enticed to relocate to the Motor City by DVP founder and Quicken Loans chairman Dan Gilbert. … Continue reading “Campless Decamps to Detroit, Plans Expansion Into Other Collectibles”
Five Takeaways From “Boston’s Life Science Disruptors”
The monsoon that drenched Boston before Xconomy’s biotech gathering on Wednesday was apropos; there’ve been storm clouds over the industry for a few weeks now. So much so that Flagship Ventures CEO Noubar Afeyan, uncharacteristically flashing a suit and tie, quipped: “Everybody’s been predicting the death of the IPO window for awhile, so I thought … Continue reading “Five Takeaways From “Boston’s Life Science Disruptors””
DFJ Growth Leads $90M Round for Green Lender Renovate America
Renovate America, a San Diego company that finances solar panel installations and other sustainability-focused imrpovements for residential and commercial buildings, said yesterday it has raised $90 million in a growth equity round led by DFJ Growth. Founded in 2009 by J.P. McNeill and Nick Fergis, Renovate America began making clean-energy loans to homeowners in 2011, … Continue reading “DFJ Growth Leads $90M Round for Green Lender Renovate America”
East Coast Biotech Roundup: Forum, Neon, Sarepta, Accelerator & More
Things aren’t always pretty in biotech, though it may have seemed like they were over the past few years. Now the raging biotech bull market has slowed, and billions of dollars in value has seemingly disappeared overnight. Is this a blip or a long-term correction? Is the IPO window on the verge of closing? Will … Continue reading “East Coast Biotech Roundup: Forum, Neon, Sarepta, Accelerator & More”
Wisconsin Beertech: MobCraft Fundraising to Open Brewery in Spring
As a fan of craft beer, I’ve been spoiled to live in places with plenty of savory options, between spending the past eight years in Wisconsin, and now with my new digs in Boston. Every once in a while, I’m able to convince my editors to let me write about beer (cheers!). I took advantage … Continue reading “Wisconsin Beertech: MobCraft Fundraising to Open Brewery in Spring”
Signpost, FareHarbor, ZenPayroll Talk Growth at Denver Startup Week
Water on Mars or not, it’s generally not advisable to jump ship after interplanetary takeoff. Just ask Edward Kim, Stuart Wall, and Lawrence Hester. Though no member of that trio is headed out of the stratosphere any time soon, each one has commanded a successful startup—some would say “rocket ship”—over the past several years. For … Continue reading “Signpost, FareHarbor, ZenPayroll Talk Growth at Denver Startup Week”
Wisconsin Roundup: Exact Sciences, Cellectar, BrightStar, & More
New funding, an office relocation, and a grant to develop a new drug are among the announcements we’re watching this week in Wisconsin’s tech and innovation community. Here are the details: —Exact Sciences (NASDAQ: [[ticker:EXAS]]) is set to move its headquarters to downtown Madison from the city’s west side after the Madison Common Council approved … Continue reading “Wisconsin Roundup: Exact Sciences, Cellectar, BrightStar, & More”
Research Triangle Foundation Lands $50M to Jumpstart Park Center Plan
North Carolina’s Research Triangle Park, for decades a source of inventions in technology and life sciences, is preparing to reinvent itself. Founded through a collaboration of industry, government, and academia, the Park is turning to public-private partnerships once again to spark development, with $50 million in funding that paves the way for the Park’s first … Continue reading “Research Triangle Foundation Lands $50M to Jumpstart Park Center Plan”
EMC Veteran Heiser Joins ClickSoftware as CEO
Here’s a big name to follow in the tech world: Tom Heiser. The longtime EMC executive has joined ClickSoftware Technologies, an Israel- and Burlington, MA-based software company, as its chief executive, effective Oct. 1. Heiser (pictured) replaces interim CEO Paul Ilse, who’s an operating partner with Francisco Partners. That’s the private equity firm that acquired … Continue reading “EMC Veteran Heiser Joins ClickSoftware as CEO”
New VC-Backed School Joins Ranks of SF’s Indie Coding Skills Shops
San Francisco hosts so many freestanding computer programming schools and code bootcamps now that it’s hard to keep track of them all. But make room for another one. A trio of alumni from France’s European Institute of Technology is launching the new Holberton School in a 4,000-square-foot space on Battery Street, and they’re offering free … Continue reading “New VC-Backed School Joins Ranks of SF’s Indie Coding Skills Shops”
Big Name VCs Back Seattle ‘Startup Studio’ Pioneer Square Labs
Some of the biggest names in Northwest investing and entrepreneurship, including prolific angel investor Geoff Entress and startup founder/venture capitalist Greg Gottesman, have opened a “startup studio” to form new companies with financial backing from most of the region’s venture firms, along with notable players from Silicon Valley and beyond. Pioneer Square Labs (PSL), based … Continue reading “Big Name VCs Back Seattle ‘Startup Studio’ Pioneer Square Labs”
Aceable Nets $3M to Fuel Expansion of Mobile Driver’s Education App
Aceable, an Austin, TX, startup with a driver’s education app for teens and other soon-to-be drivers, has raised an additional $3 million in seed funding. The investment, which was led by Austin venture capital firm Silverton Partners, brings the startup’s total funding to $4.7 million and will be used to expand its offerings to other … Continue reading “Aceable Nets $3M to Fuel Expansion of Mobile Driver’s Education App”
U-M’s Zell Lurie Fund Invests in Phasiq’s Diagnostic Technology
The University of Michigan’s student-led Zell Lurie Commercialization Fund has invested in Phasiq, a U-M spinout startup working on a cheaper, faster, more accurate way to test multiple health-indicator proteins in a single patient sample. The startup is particularly focused on research and diagnostic tests related to cancer and other diseases affecting the immune and … Continue reading “U-M’s Zell Lurie Fund Invests in Phasiq’s Diagnostic Technology”
Houston Biotech DNAtrix Partners With Merck on Brain Cancer Treatment
Houston-based DNAtrix is using a relatively quotidian tool to treat brain cancer: the common cold virus. And today the biotech says it has enlisted some big firepower to help it develop its drug candidate, the pharmaceutical giant Merck. The two companies will collaborate in phase II clinical trials on a therapy to treat glioblastoma, an especially … Continue reading “Houston Biotech DNAtrix Partners With Merck on Brain Cancer Treatment”
Elcelyx Raises $40M, Begins Late-Stage Trial of New Diabetes Drug
San Diego-based Elcelyx Therapeutics said today it has secured $40 million in a Series E financing—its biggest ever—after receiving official guidance from the FDA for late-stage trials of its oral drug candidate, a delayed-release formulation of metformin. Elcelyx is targeting the 40 percent of patients with type 2 diabetes who can’t tolerate existing formulations of … Continue reading “Elcelyx Raises $40M, Begins Late-Stage Trial of New Diabetes Drug”