The University of Michigan unveiled MCity this week to a throng of international media and local dignitaries on hand to check out the $6.5 million, 32-acre controlled environment specifically designed to test the potential of connected and automated vehicle technologies. The replica city—complete with movable building facades; roundabouts and traffic signals; bike lanes and a … Continue reading “MCity and the Race to Get Connected Cars on the Road”
Category: National
Scynexis Sells CRO Business to Avista, Turns Focus to Antifungal Drug
Scynexis, which has straddled the drug business as both a drug developer and a services provider for other pharmaceutical companies, is now exclusively focused on developing its own drugs. The Durham, NC, company announced Thursday that it has sold its contract research business to Avista Pharma Solutions for an undisclosed price. Scynexis (NASDAQ: [[ticker:SCYX]]) will … Continue reading “Scynexis Sells CRO Business to Avista, Turns Focus to Antifungal Drug”
Exact Sciences Raises $174M, Nearly Doubles War Chest For Diagnostics
Exact Sciences is significantly boosting its coffers as it continues pushing sales of its first molecular diagnostic test and goes to work developing more products. Madison, WI-based Exact (NASDAQ: [[ticker:EXAS]]) said it expects to earn about $174 million this week in a stock offering, after deducting expenses and underwriting discounts. Exact sold 7 million shares … Continue reading “Exact Sciences Raises $174M, Nearly Doubles War Chest For Diagnostics”
“Boston’s Life Science Disruptors” to Share Their Stories on Sept. 30
The concept of “disruption” has become a buzzword in biotech, a term signifying the dreams of companies looking to make a big impact on the world of healthcare. Yet that type of risk-taking and innovation typifies the startup biotech, where the odds are stacked against you and the road to success is long, costly, and … Continue reading ““Boston’s Life Science Disruptors” to Share Their Stories on Sept. 30”
MIT Stealth Spinout, Pi, Charges Up Wireless Power Competition
When you think of wireless power—the ability to charge a device without a power cord—most people in Boston think of WiTricity, the MIT spinout that has raised north of $45 million and has partnerships with Toyota and Intel. But there’s a new kid on the block. Xconomy has learned of a new MIT startup called … Continue reading “MIT Stealth Spinout, Pi, Charges Up Wireless Power Competition”
Ra Pharma Gets $58.5M in Crossover Cash to Target Rare Blood Disease
Ra Pharmaceuticals, a Cambridge,MA-based company that signed a large collaboration deal with Merck two years ago, has received a $58.5 million Series B financing to take its first drug, a potential treatment for an ultra-rare blood disorder, called paroxysmal nocturnal hemoglobinuria, into human clinical testing. PNH occurs when a part of the immune system called … Continue reading “Ra Pharma Gets $58.5M in Crossover Cash to Target Rare Blood Disease”
Companies May Stay Private as VCs Invest $32.5B, Report Says
As record levels of venture funding piles into startups, more companies may stay private rather than file for initial public offerings, according to venture capital database CB Insights and accounting firm KPMG. Private companies raised more than $32.5 billion in the second quarter of 2015, with about half of the total coming from 61 deals … Continue reading “Companies May Stay Private as VCs Invest $32.5B, Report Says”
RocketClub Floats Sweat Equity Crowdfunding Hub To Attract Startup Users
Close to a thousand entrepreneurial teams competed for ten spots in the winter startup camp at the Plug and Play accelerator in Sunnyvale, CA this year. One young company got in because it offered a possible solution to a major problem facing 90 percent of all tech startups, says Plug and Play managing director Alireza … Continue reading “RocketClub Floats Sweat Equity Crowdfunding Hub To Attract Startup Users”
Are Humans the Key to Discovery in a World of Digital Abundance?
We are drowning in content. Blogs made everyone a journalist. Self-publishing made everyone an author. YouTube made everyone a filmmaker. iTunes made everyone a musician. Publishing houses, record labels, and newsrooms have lost their long-held position as gatekeepers of taste. This is largely a good thing, particularly for aspiring artists. I’m a novelist. FG Press … Continue reading “Are Humans the Key to Discovery in a World of Digital Abundance?”
RaNA CEO Renaud Turns To A Former Backer To Lead $55M Series B
Tiny biotech RaNA Therapeutics brought in Wall Street-savvy CEO Ronald Renaud last year, and today the startup announced its biggest round of funding to date led by an investor whose past ties to Renaud ended with a surprising and lucrative exit. Under Renaud, Cambridge, MA-based RaNA has raised a $55 million Series B round, its … Continue reading “RaNA CEO Renaud Turns To A Former Backer To Lead $55M Series B”
University of Houston’s Rathindra Bose Dies at 63
We at Xconomy Texas have some sad news to share. Rathindra Bose, the vice chancellor and vice president for research and technology at the University of Houston, died July 10 after a short illness. He was 63. In an email to faculty and staff, U of H President and Chancellor Renu Khator praised Bose’s contributions … Continue reading “University of Houston’s Rathindra Bose Dies at 63”
Collective Labs Incubating, Sharing Space with Up-and-Comers in NY
Inside what once was The New York Times Building on West 43rd Street, ad tech company Collective has given startups some room to find their footing—while also pursuing its own growth plans. Collective develops software and services that let brands, publishers, and marketers send advertising messages across devices from desktop computers to smartphones. For example, the … Continue reading “Collective Labs Incubating, Sharing Space with Up-and-Comers in NY”
Houston’s Texas Medical Center Unveils New Fellowship in Biodesign
The Texas Medical Center is now seeking applicants for a new fellowship that could boost entrepreneurship in digital health and medical devices. The TMC Biodesign Fellowship is taking applications until August 2 for eight spots for a new, yearlong program. The fellows will be named about a week later. “There has been a convergence of … Continue reading “Houston’s Texas Medical Center Unveils New Fellowship in Biodesign”
Database Startup NuoDB Gets New CEO, Looks to Grow Faster
There has been a leadership change at a prominent database software company in town. NuoDB, based in Cambridge, MA, says founding CEO Barry Morris has become executive chairman, and Bob Walmsley has been promoted to chief executive. Walmsley was previously NuoDB’s executive vice president of sales and services. Before joining NuoDB in April 2014, he … Continue reading “Database Startup NuoDB Gets New CEO, Looks to Grow Faster”
Netezza Vets Hope Big Data Startup Cazena Leads to Repeat Success
The crew that turned Netezza into a $1.7 billion big data success story is back with Cazena, a Waltham, MA-based startup its founders say can bring big data to the cloud. Cazena announced Wednesday that it has raised a $20 million Series B round led by Formation 8, with prior investors Andreessen Horowitz and North … Continue reading “Netezza Vets Hope Big Data Startup Cazena Leads to Repeat Success”
With New Alzheimer’s Data, Biogen Refines Plans For Big Trial
Despite the billions of dollars poured into Alzheimer’s disease research, the disorder remains a biological riddle with no cure. That’s why even hints of progress—encouraging signs in early studies, for example—garner so much attention. And that’s why an update from an experimental drug from Biogen is front and center this morning. Today, at the annual … Continue reading “With New Alzheimer’s Data, Biogen Refines Plans For Big Trial”
In Biotech, Everyone’s Going Public. What’s Your Excuse?
Biotechs everywhere are going public these days. You might have heard. Approaching the traditional market lull in August, we’re up to nearly 40 life science IPOs in 2015, by my own count, with plenty more lined up. That’s more than half way to last year’s mark and already past the 2013 total. I weighed in … Continue reading “In Biotech, Everyone’s Going Public. What’s Your Excuse?”
FDA Clears 2 New Propeller Health Devices That Track Respiratory Meds
Propeller Health has received FDA clearance to sell two new devices to help chronic respiratory disease patients track their medication usage and better follow their recommended treatment regimens. Founded in 2010, the Madison, WI-based company makes data-collecting devices that snap on to medication inhalers used by asthma and chronic obstructive pulmonary disease (COPD) patients. The devices … Continue reading “FDA Clears 2 New Propeller Health Devices That Track Respiratory Meds”
NanoRacks & Bezos’s Blue Origin Team to Boost Suborbital Research
Nanoracks, a private Houston-area space company, has formed a new partnership with Jeff Bezos’s Blue Origin to help scientific researchers work in suborbital space. NanoRacks CEO Jeffrey Manber passed the information along to me in an e-mail this morning. According to a post on the company’s website, Manber said “for many projects, a productive first … Continue reading “NanoRacks & Bezos’s Blue Origin Team to Boost Suborbital Research”
New $2.7M Macomb Innovation Fund Awards $275K to Five Startups
Five startups from Southeast Michigan were today awarded a total of $275,000 from a new $2.7 million innovation fund that is a joint effort between Macomb Community College (MCC) and JP Morgan Chase, as part of the latter’s $100 million, five-year initiative to stimulate Detroit’s revitalization. The purpose of the fund, organizers said in a … Continue reading “New $2.7M Macomb Innovation Fund Awards $275K to Five Startups”
Why Vook Became Pronoun to Keep Chasing a Share of E-Publishing
With a new name and a few changes in strategy, a New York-based e-publishing company is still trying to become a central character in the next chapter of digital books. In June, Avalon Ventures invested $3.5 million into Pronoun, previously known as Vook. Pronoun’s CEO Josh Brody likens the evolution of digital publishing to the … Continue reading “Why Vook Became Pronoun to Keep Chasing a Share of E-Publishing”
New $217M Venture Fund for Enterprise Tech Startups in Boston
No one knows how much longer it’ll last, but it’s definitely a good time to raise a venture fund. Boston-based .406 Ventures said today it has raised a $217 million third fund to invest in enterprise tech companies. The 10-year-old venture firm has about $600 million under management, making it one of the more prominent … Continue reading “New $217M Venture Fund for Enterprise Tech Startups in Boston”
Wisconsin Roundup: Tax Credits, VC Funds, Medical Devices, & More
Here’s a collection of some recent headlines from Wisconsin’s tech and innovation community: —A report from the Wisconsin Economic Development Corp. reinforces the fact that 2014 was a strong year for investments in Badger State companies. The annual report on the Qualified New Business Venture program—a state initiative that offers a 25 percent tax credit … Continue reading “Wisconsin Roundup: Tax Credits, VC Funds, Medical Devices, & More”
Alzheimer’s Drug Firm vTv Therapeutics Sets Terms for $125M IPO
Drug developer vTv Therapeutics is moving forward with its plans for a public stock offering to support late-stage clinical development of its Alzheimer’s disease drug. The High Point, NC-based company on Monday set terms for its IPO, proposing to offer 7.8 million shares in the range of $15 to $17 per share. At the midpoint, … Continue reading “Alzheimer’s Drug Firm vTv Therapeutics Sets Terms for $125M IPO”
Insight’s Big Bets Drive Colorado’s VC Haul to $330M in 2nd Quarter
Companies in Colorado raised nearly $330.3 million from venture capital investors in the second quarter, a 185 percent jump from what they raised in the prior quarter, and while that increase might have locals smiling, a New York City-based private equity and VC firm might have the most to gain. Insight Venture Partners made the … Continue reading “Insight’s Big Bets Drive Colorado’s VC Haul to $330M in 2nd Quarter”
Beyond Houston: Advocates Aim to Boost Texas Biotech in Dallas Area
To illustrate the promise—and potential loss—of biotech in North Texas, JJ Spegele likes to share a conversation he had with a PhD candidate finishing his studies at a Dallas-area institution. “He wants to stay here, but he doesn’t know where to look for work,” says Spegele, the president and CEO of the newly formed BioNorthTX, … Continue reading “Beyond Houston: Advocates Aim to Boost Texas Biotech in Dallas Area”
Rock the House—from Silicon Valley to China
It’s that time of the quarter, when venture capital fundraising data are released by the National Venture Capital Association (NVCA), possibly leaving all the sophisticated investors across the industry wringing their collective hands about frothiness. The latest data shows that VCs in 2Q15 raised over $10.4 billion (slightly revised upward from the amount first announced … Continue reading “Rock the House—from Silicon Valley to China”
Sharing Economy Companies Sharing the Heat In Contractor Controversy
[Corrected 7/31/15, 2:34 pm. See below.] For some time, Uber and other Silicon Valley tech companies have been fighting off lawsuits and other claims that their labor practices are unfair to on-demand workers they classify as independent contractors rather than as employees. The heat mounted this week on a number of fronts. The issue took … Continue reading “Sharing Economy Companies Sharing the Heat In Contractor Controversy”
DRYV Offers Detroiters On-Demand Dry-Cleaning and Delivery
Believe it or not, my least favorite thing about Detroit is not the crime, systemic poverty, or proliferation of twee, wildly overpriced hipster boutiques. What drives me crazy about the Motor City is actually the utter lack of delivery services and on-demand service provider options. Savvy startups are beginning to notice that hole in the … Continue reading “DRYV Offers Detroiters On-Demand Dry-Cleaning and Delivery”
East Coast Biotech Roundup: Celgene, Chiasma, Cerulean, & More
[Updated 7/19/15, 9:36 p.m. See below.] In this week’s Celgene roundup—sorry, this week’s biotech roundup—Celgene is yet again leading the way with its second billion-plus dollar deal in the last month. Beyond Celgene’s recent high level of activity, the last week has been defined by news that was expected to happen—from initial public offerings to data … Continue reading “East Coast Biotech Roundup: Celgene, Chiasma, Cerulean, & More”
After $103M IPO, Rapid7 Stock Up in Early Trading
[Updated, 5:45pm] Ding, ding. Rapid7 CEO Corey Thomas rang the opening bell at the Nasdaq this morning, and the Boston area’s first tech IPO of 2015 is in the books. Rapid7 (NASDAQ: [[ticker:RPD]]) raised $103.2 million by selling 6.45 million shares at $16 a pop, which was above the expected price range. The cybersecurity company’s … Continue reading “After $103M IPO, Rapid7 Stock Up in Early Trading”
NephroGenex Aims to Raise $7.5M for Diabetic Nephropathy Drug
NephroGenex has finally priced a stock offering to pay for more late-stage clinical trial work on its treatment for a deadly diabetes complication, but the company needed to slash its offering twice in order to pull it off. Raleigh, NC-based NephroGenex [[NASDAQ: [[ticker:NRX]]) aims to raise $7.5 million from a secondary stock offering of 1.5 … Continue reading “NephroGenex Aims to Raise $7.5M for Diabetic Nephropathy Drug”
Texas Roundup: SailPoint, DEC, Neos, Sanofi, NASA & XPrize
The dog days of Texas summer are here, with temperatures hitting 100 degrees. So stay inside and catch up on the latest innovation news: —SailPoint, an Austin-TX-based maker of identity management software, has purchased Whitebox Security, a security software firm based in Sunnyvale, CA. Whitebox’s products will still be offered under the “SecurityIQ” name. Terms … Continue reading “Texas Roundup: SailPoint, DEC, Neos, Sanofi, NASA & XPrize”
MoneyTree Shows Drop in San Diego VC Funding, and Top 15 Deals
At a time when venture capital investments hit $17.5 billion nationwide—the highest quarterly level in 15 years—VCs invested only about $141.5 million in the San Diego region, according to MoneyTree data released today. Second-quarter venture funding in San Diego was down about 48 percent from the previous quarter, when the MoneyTree Report found that venture … Continue reading “MoneyTree Shows Drop in San Diego VC Funding, and Top 15 Deals”
Rapid7 Prices IPO at $16 Per Share as Cybersecurity Takes Center Stage
Let the record show that it took until July 16 this year for a Boston-area technology company to have an initial public offering. That company is Rapid7. The cybersecurity software firm (NASDAQ: [[ticker:RPD]]) expects to raise $103.2 million by selling 6.45 million shares at $16 per share, before fees and underwriter discounts. That share price … Continue reading “Rapid7 Prices IPO at $16 Per Share as Cybersecurity Takes Center Stage”
West Coast Biotech Roundup: Receptos, ProNAi, Protagonist & More
Once again, the big West Coast news of the week came from an East Coast company, Celgene, making it rain. (That’s a figure of speech, unfortunately. Out here, rain would be about as welcome as a cure for cancer these days.) Tuesday, Celgene (NASDAQ: [[ticker:CELG]]) said it would pay $7 billion-plus to scoop up San … Continue reading “West Coast Biotech Roundup: Receptos, ProNAi, Protagonist & More”
StartingBlock Madison Project Moves Ahead, Releases New Renderings
The proposed $69 million revitalization project east of downtown Madison, WI, which will include the StartingBlock Madison entrepreneurial center, passed another hurdle this week. A city committee voted to allow city staff to negotiate the sale of the property where StartingBlock will be located to Gebhardt Development, the real estate project’s developer, the Wisconsin State … Continue reading “StartingBlock Madison Project Moves Ahead, Releases New Renderings”
Move West, Raise Cash: ProNAi’s Hot Streak Now Includes $138M IPO
When Xconomy last reported on ProNAi Therapeutics (NASDAQ: [[ticker:DNAI]]) in April 2014, the biotech developing cancer drugs based on DNA interference (DNAi) technology had just closed a Series D round of nearly $60 million. This week, ProNAi took to the public markets, raising $138 million in an initial public offering and watching its share price … Continue reading “Move West, Raise Cash: ProNAi’s Hot Streak Now Includes $138M IPO”
Intuitive Machines Exploits Space Savvy to Boost Innovation on Earth
Steve Altemus wants to bring the rigor of manned spaceflight to energy and healthcare, as well as the private space industry. As one example, the company he founded to do that, Intuitive Machines, creates software that helps oil companies do more precise drilling by leveraging the founders’ experience in engineering for space. “These are algorithms … Continue reading “Intuitive Machines Exploits Space Savvy to Boost Innovation on Earth”
PeerTransfer Opens Shanghai Office, Sets Sights on Next Markets
Paying for college is tough no matter what country you’re in. And it’s not just because of the ever-increasing tuition bills. Sometimes just making sure the checks get in on time is a challenge in itself—especially for foreign students. The headache of making sure the bill is paid on time is compounded by banks and … Continue reading “PeerTransfer Opens Shanghai Office, Sets Sights on Next Markets”
Invest NW Would Help Rich Families Make Local Impact Investments
The Pacific Northwest innovation economy is in the midst of a substantial capital refresh cycle, with four locally based venture funds filling their coffers with upwards of $700 million through the first half of the year. And there’s potential for more to come, from family foundations, a source that until now has been largely untapped. … Continue reading “Invest NW Would Help Rich Families Make Local Impact Investments”
Okanjo Embeds “Buy” Button in Ads, Follows Lead of Facebook, Others
Facebook, Google, Twitter, Instagram, and Pinterest have all begun rolling out “buy” buttons over the past year that give users a clickable gateway to make purchases related to whatever they’re viewing at the moment on their devices. Now comes Milwaukee-based advertising and e-commerce technology startup Okanjo, which announced yesterday it has launched a similar product … Continue reading “Okanjo Embeds “Buy” Button in Ads, Follows Lead of Facebook, Others”
Orphan Drug Maker Chiasma Raises $101.8M in IPO
Orphan disease drug developer Chiasma raised $101.8 million in its initial public offering, $20 million more than the upper end of the Newton, MA-based biopharma company’s previous projection. Chiasma (NASDAQ: [[ticker:CHMA]]) is using most of the money to build out its U.S. sales and marketing operations as it readies itself for the potential launch of … Continue reading “Orphan Drug Maker Chiasma Raises $101.8M in IPO”
Vecna and VGo Are Now One: An Important Robotics Acquisition
Some consolidation in the New England robotics market today. Health IT and robotics company Vecna Technologies has acquired VGo Communications, a Nashua, NH-based maker of telepresence robots, for an undisclosed sum. These are two of the more enduring robotics companies in the area. Vecna, which got started in the late ’90s, is known for its … Continue reading “Vecna and VGo Are Now One: An Important Robotics Acquisition”
As Boomers Gray, Kegels Aren’t Just for Women Anymore
As many as a third of American men and women suffer from incontinence, and Austin, TX-based Consortia Health wants to bring stateside a method used by patients around the world. Consortia, which was founded three years ago, provides physician groups with equipment and nurses trained in guiding patients through pelvic floor exercises, also known as … Continue reading “As Boomers Gray, Kegels Aren’t Just for Women Anymore”
Protagonist Nabs $40M, Eyes 1st Trial Of Oral Peptide In Gut Disease
Protagonist Therapeutics thinks it has solved a biological riddle, and several investors are shelling out $40 million to help test the company’s solution in humans for the first time before the end of 2015. If that first trial goes well, Protagonist’s investors might start dreaming of a big payoff. The drug being tested is in … Continue reading “Protagonist Nabs $40M, Eyes 1st Trial Of Oral Peptide In Gut Disease”
Judge Rejects Court Order Requested in Fight Over Alzheimer’s Study
A San Diego judge denied the University of Southern California’s request for a temporary restraining order against UC San Diego yesterday afternoon, as the two universities continued their fight for control of a nationwide study on Alzheimer’s disease. USC submitted its request for the order Tuesday, alleging that officials at UC San Diego had somehow … Continue reading “Judge Rejects Court Order Requested in Fight Over Alzheimer’s Study”
Venture Investing Hits Record $19B in Second Quarter
[Updated 7/17/15, 7:40 a.m. See below.] There’s plenty of talk about a potential bubble in the market, whether in tech, biotech, or elsewhere. True or not, one fact that’s real is that there is plenty of money flowing into startups. The second quarter of 2015 produced the highest level of venture funding since at least 2010, and possibly … Continue reading “Venture Investing Hits Record $19B in Second Quarter”
Symantec and Frost Data Capital To Fund Data Security Startups
Information security giant Symantec is joining with Frost Data Capital to provide seed funding for 10 new startups a year aimed at filling technology gaps that make corporations vulnerable to hacker attacks via connected devices and other means, the companies announced today. But don’t expect to see scouts for Mountain View, CA-based Symantec or its … Continue reading “Symantec and Frost Data Capital To Fund Data Security Startups”
Rubicon Genomics Raises $2M, Prepares to Launch New Plasma Product
Rubicon Genomics, the Ann Arbor, MI-based University of Michigan life sciences spinout, today announced it has raised $2 million in a structured debt deal. The financing was led by BroadOak Capital Partners in Bethesda, MD, with participation from Tucson, AZ-based Research Corporation Technologies. The announcement caps a year of intense growth for the company, said … Continue reading “Rubicon Genomics Raises $2M, Prepares to Launch New Plasma Product”