The Boston tech scene lands its first IPO of 2019. DataRobot rakes in about $200 million more. Pushback on facial recognition spreads from Somerville, MA, to neighboring Cambridge. Markforged and Desktop Metal head back to court. Read on for more of this week’s Boston tech news. —Burlington, MA-based software company Everbridge (NASDAQ: [[ticker:EVBG]]) is acquiring … Continue reading “Boston Tech Watch: Jobble, Soofa, Dynatrace, Markforged & DataRobot”
Category: National
Dynatrace Shares Jump, Marking First Boston-Area Tech IPO of 2019
Shares of Waltham, MA-based software intelligence firm Dynatrace hit the public markets for the first time today, and it was a strong debut. Bankers elevated the initial stock pricing above earlier estimates, and then traders pushed the value higher, to $25 a share at midday. The first IPO this year of a tech company headquartered … Continue reading “Dynatrace Shares Jump, Marking First Boston-Area Tech IPO of 2019”
Elanco Boosts Vaccine Portfolio With $60M Prevtec Acquisition
One of the most serious threats to a young farm pig’s life is a type of gut infection that can quickly turn deadly. Elanco Animal Health has acquired a Canadian biotechnology startup that has commercialized a line of vaccines developed to protect pigs from the infection. Elanco (NYSE: [[ticker:ELAN]]) announced Thursday that it paid approximately … Continue reading “Elanco Boosts Vaccine Portfolio With $60M Prevtec Acquisition”
Ford, Retreating From Bold Timeline, Buys Quantum Signal for AV Tech
Back in 2016, Ford’s then-CEO Mark Fields fired a shot across the bow when he made a daring pledge. The big automaker would deploy fully autonomous fleet vehicles as part of a ride-sharing or ride-hailing service by 2021, when it would also be mass-producing such vehicles, he said. Earlier this year, though, current Ford CEO … Continue reading “Ford, Retreating From Bold Timeline, Buys Quantum Signal for AV Tech”
Amicus Offers First Look At Gene Therapy Work With Batten’s Data
Amicus Therapeutics bought a spinout of Nationwide Children’s Hospital last year as part of a plan to become a player in the emerging field of gene therapy. Today it is providing the first evidence, in humans, that the investment could pay dividends. The results Amicus (NASDAQ: [[ticker:FOLD]]) are disclosing this morning come with plenty of … Continue reading “Amicus Offers First Look At Gene Therapy Work With Batten’s Data”
White House Floats Canadian Import Plan But Excludes Many Costly Drugs
[Updated, 6:18 p.m. ET. See below.] The Trump administration unveiled Wednesday a long-awaited plan to import cheaper medications from Canada and other countries. The US Department of Health and Human Services says the two proposals are part of the administration’s strategy to curb high prescription-drug prices, which has often been short on action despite the … Continue reading “White House Floats Canadian Import Plan But Excludes Many Costly Drugs”
Markforged Sues Desktop Metal Over “Dirty Tricks” in 3D Printing War
Markforged is reviving its courtroom battle with 3D printing rival Desktop Metal with a lawsuit that alleges “a campaign of dirty tricks” by the competitor that violates a 2018 deal the two agreed to when they last were bringing each other to court. Markforged, based in Watertown, MA, says in the lawsuit filed Tuesday in … Continue reading “Markforged Sues Desktop Metal Over “Dirty Tricks” in 3D Printing War”
Mark Levin Named Xconomy’s 2019 Lifetime Achievement Award Winner in Boston
We at Xconomy are excited to announce that we are honoring Mark Levin, co-founder and partner at Third Rock Ventures, with our 2019 Lifetime Achievement Award in Boston. The award recognizes Levin’s extensive contributions to the biotech industry and to the Boston life sciences ecosystem. Levin built Millennium Pharmaceuticals—inspiring a generation of future executives/entrepreneurs along … Continue reading “Mark Levin Named Xconomy’s 2019 Lifetime Achievement Award Winner in Boston”
ProsperOps Seeks Spot in the Growing Cloud as Amazon Still Dominates
Austin—[Updated 1:28 p.m. See below.] Cloud computing is big business, and Amazon Web Services is the biggest. A new Texas startup is carving its own space in this growing sector, but it’s not doing it by competing with Amazon’s AWS head on. The founders of ProsperOps have tied their firm’s growth, at least initially, to … Continue reading “ProsperOps Seeks Spot in the Growing Cloud as Amazon Still Dominates”
Illumina Cuts Forecasts As Consumer Tests, Genomics Initiatives Lag
About this time last year, DNA sequencing giant Illumina upped its financial projections, estimating its sales would grow 20 percent year-over-year. It exceeded that goal, with revenue rising 21 percent to $3.33 billion by the end of 2018. It’s a different financial story this summer. On Monday, Illumina (NASDAQ: [[ticker:ILMN]]) informed the markets that it … Continue reading “Illumina Cuts Forecasts As Consumer Tests, Genomics Initiatives Lag”
Upjohn & Mylan to Merge, Freeing Pfizer to Focus on Biopharma R&D
Pfizer became the world’s biggest drug maker by revenue through acquisitions that diversified its portfolio. Now it’s spinning out its off-patent drug division and charting a different course for the remaining company as a smaller business focused on developing innovative new drugs. On Monday, Pfizer (NYSE: [[ticker:PFE]]) announced that its Upjohn division, which sells drugs … Continue reading “Upjohn & Mylan to Merge, Freeing Pfizer to Focus on Biopharma R&D”
DataRobot, Now a Unicorn, Raises Close To $200M for Machine Learning: Sources
[Update: On Sept. 17, DataRobot announced it had raised $206 million in a Series E round led by Sapphire Ventures. It brings the Boston company’s total amount raised to $431 million.] DataRobot has raised a Series E funding round in the ballpark of $200 million to advance its automated machine learning and artificial intelligence software, … Continue reading “DataRobot, Now a Unicorn, Raises Close To $200M for Machine Learning: Sources”
Exact Sciences Buying Genomic Health in $2.8B Cancer Diagnostics Deal
[Updated 7/29/19, 10:19 am CT. See below.] With ambitious sales goals and its stock trading at an all-time high this year, cancer diagnostics firm Exact Sciences decided to go shopping. The result is a deal announced Monday to acquire Genomic Health for $2.8 billion in cash and stock, a combination that Exact CEO Kevin Conroy … Continue reading “Exact Sciences Buying Genomic Health in $2.8B Cancer Diagnostics Deal”
Merck Data Are Another Step for Immunotherapy in Breast Cancer
Merck this morning announced that a combination of its drug pembrolizumab (Keytruda) and chemotherapy succeeded in a Phase 3 study in breast cancer, a potentially notable advance for immunotherapy in treating the disease. Merck (NYSE: [[ticker:MRK]]) said that Keytruda and chemotherapy beat chemo alone when given to patients with triple-negative breast cancer in a study … Continue reading “Merck Data Are Another Step for Immunotherapy in Breast Cancer”
Xconomy’s August San Francisco Event to Focus on Genomics and Health
In both health and disease, our genes have stories to tell. Two decades since the first draft of a human genome sequence, we’re starting to read them. On Aug. 27, Xconomy and Biocom will hold “Turning Genomics Into Better Health,” an event that will delve into the promise and perils of tapping into the secrets … Continue reading “Xconomy’s August San Francisco Event to Focus on Genomics and Health”
Leaving Carbonite, Mohamad Ali Joins IDG to Make It a Tech Company
Mohamad Ali’s departure from Carbonite’s corner office didn’t follow the usual tech executive roadmap to which even his earlier career had hewn. Ali’s career ran through posts building technology tools at IBM and Hewlett-Packard prior to joining Carbonite in 2014, so the move to head up International Data Group, a technology media, events, and research … Continue reading “Leaving Carbonite, Mohamad Ali Joins IDG to Make It a Tech Company”
Duchenne Advocates Start Casimir, Aiming to Capture Missing Data
Three years ago, the FDA made one of the most polarizing decisions in its history. It approved a drug for the rare genetic disease Duchenne muscular dystrophy on the slimmest of evidence, a watershed moment that caused a highly publicized rift within the agency. In the midst of it all were parents who pushed hard … Continue reading “Duchenne Advocates Start Casimir, Aiming to Capture Missing Data”
Bio Roundup: Leiden’s Exit, Depression Data, a New Pricing Bill & More
What will the legacy be of Jeff Leiden, the longtime CEO of Vertex Pharmaceuticals? Vertex surprised Wall Street this week by announcing Leiden’s seven-year run will end next spring. In some ways, his legacy is already written. He steered Vertex through a crisis when its hepatitis C business was squashed by competition, in no small … Continue reading “Bio Roundup: Leiden’s Exit, Depression Data, a New Pricing Bill & More”
No Co-Founder? Y Combinator Offers Matchmaking at Startup School
From the moment Talia Frenkel resolved to found a company after a kitchen-table talk with her parents, the odds were against her. There were a host of reasons—she wasn’t a software engineer, she had no product development experience, and she wanted to launch a consumer item that was already sold widely by established enterprises. Yet … Continue reading “No Co-Founder? Y Combinator Offers Matchmaking at Startup School”
“You Get What You Celebrate”: Net@50 Gives the Internet Its Due
Talk at the Xconomy and the World Frontiers Forum’s Net@50 event started with a simple phrase about taco toppings and ended with discussion of a brain-computer interface that could perhaps enable a collective intelligence. Net@50 last week explored the internet’s past, present, and future with thoughts from a rare group of engineers who imagined and … Continue reading ““You Get What You Celebrate”: Net@50 Gives the Internet Its Due”
Carbonite CEO Mohamad Ali Leaves for International Data Group
[Updated 7/25/19, 9:05 pm. Added comments from Carbonite executives.] Carbonite’s Mohamad Ali is stepping down as CEO and board member of the Boston-based data protection company to lead International Data Group, a technology media, events, and research company. For now, the helm at Carbonite (NASDAQ: [[ticker:CARB]]) will be taken up by board chairman Steve Munford, … Continue reading “Carbonite CEO Mohamad Ali Leaves for International Data Group”
As Castle Bio Jumps on IPO Train, Industry Trends Suggest Slowdown
Castle Biosciences is joining the public markets through a $64 million IPO that will support cancer tests that help doctors make treatment decisions. On Wednesday evening, Castle priced its offering of 4 million shares at $16 apiece, which was the high end of its targeted price range. The Friendswood, TX, company had previously planned to … Continue reading “As Castle Bio Jumps on IPO Train, Industry Trends Suggest Slowdown”
Jeff Leiden, Who Shaped Vertex Into a CF Force, to Switch Roles
Jeff Leiden, who helped steer Vertex Pharmaceuticals out of a crisis and into a profitable developer of cystic fibrosis medicines, will step down as the CEO of the Boston company next spring. In a surprising announcement, Vertex (NASDAQ: [[ticker:VRTX]]) said Thursday morning that Leiden (pictured), who has run the company for about seven years, will … Continue reading “Jeff Leiden, Who Shaped Vertex Into a CF Force, to Switch Roles”
Livongo Upsizes IPO to $355M in Bid to Become Netflix of Health
Livongo Health, a digital health company developing devices and software to help patients manage treatment for diabetes and other chronic conditions, said it expects to net $355.2 million in an initial public offering. Mountain View, CA-based Livongo late Wednesday priced its offering of approximately 12.7 million shares of its common stock at $28 per share. … Continue reading “Livongo Upsizes IPO to $355M in Bid to Become Netflix of Health”
Bristol, With Another Lung Cancer Flop, Loses More Ground to Merck
Bristol-Myers Squibb (NYSE: [[ticker:BMY]]) this afternoon revealed yet another setback for its cancer immunotherapy nivolumab (Opdivo) in lung cancer, boosting the outlook for rival Merck. The New York pharma giant said that a regimen of nivolumab (Opdivo) and chemotherapy failed to extend the lives of non-squamous, non-small cell lung cancer patients compared to chemo alone … Continue reading “Bristol, With Another Lung Cancer Flop, Loses More Ground to Merck”
50 Photos From Net@50: The Roots and Future of the Internet
Last week marked a historic occasion. As the world commemorated the 50th anniversary of humankind setting foot on the moon for the first time, Xconomy and the World Frontiers Forum convened an incredible group at the MIT Media Lab to celebrate another monumental achievement a half century ago: the birth of the internet. The Net@50 … Continue reading “50 Photos From Net@50: The Roots and Future of the Internet”
Connect All Startup Accelerator Seeks New Cohort of Diverse Founders
The first business accelerator program in southeast San Diego is accepting applications for its second cohort of entrepreneurs, who would start the program in fall. The six-month program, called Connect All @ the Jacobs Center, is run by Connect, a longstanding local organization that for years has supported startups through its flagship tech and life … Continue reading “Connect All Startup Accelerator Seeks New Cohort of Diverse Founders”
The Entrepreneurial Potential of Cannabis
Recreational marijuana is now legal here in Massachusetts and it seems that everywhere you look, people are excited to create business ventures around it. But, like any other business endeavor, research, planning, and discipline are essential – maybe even more so given the legal and regulatory issues involved with cannabis. As of now, marijuana is fully legal … Continue reading “The Entrepreneurial Potential of Cannabis”
Freenome Snags $160M to Boost Blood Test for Early Cancer Detection
Freenome, one of the rivals racing to detect the earliest signs of cancer through blood tests, announced Wednesday it has raised $160 million in a Series B funding round. The money boosts Freenome’s fundraising total to $238 million. It’s a boon for the South San Francisco startup founded in 2014, but not an unusual haul … Continue reading “Freenome Snags $160M to Boost Blood Test for Early Cancer Detection”
TScan Lands $48M for Better, Safer T-Cell Receptor Cancer Therapies
Despite the progress of therapies that coax the immune system to fight cancer, these treatments don’t work for all patients. When they are effective, some patients experience serious side effects. TScan Therapeutics CEO David Southwell says his company aims to improve cancer immunotherapy on both fronts. TScan’s research is still in the lab, but the … Continue reading “TScan Lands $48M for Better, Safer T-Cell Receptor Cancer Therapies”
Turnkey, TrustRadius, Homeward, Geekdom, Ion, GasMob, & More TX Tech
Let’s catch up with the latest innovation news in Texas. —Turnkey Vacation Rentals, an Austin-based company founded in 2013, has raised $48 million to expand to new markets and further develop its technology. The round was led by Altos Ventures, with participation from existing investors including Adams Street Partners, Greenspring Associates, and Harmony Partners. Turnkey … Continue reading “Turnkey, TrustRadius, Homeward, Geekdom, Ion, GasMob, & More TX Tech”
With Regulator’s Nod, Bosch Plans Spread of Driverless Valet Parking
Mass fleets of self-driving cars have yet to arrive on our streets, but people are already worrying about where they’re going to park. If they all just circle around city blocks, competing to offer on-demand rides, they could slow traffic to a crawl, industry observers say. Autonomous robotaxi services like Alphabet unit Waymo’s are still … Continue reading “With Regulator’s Nod, Bosch Plans Spread of Driverless Valet Parking”
WI Watchlist: E-Scooters, CUNA Incubator, Curate Funding & More
[Updated 7/23/19, 8:48 am CT. See below.] It’s time to catch up on some recent Wisconsin innovation headlines: —CMFG Ventures, the venture capital arm of Madison-based CUNA Mutual Group, announced today that it’s creating a financial technology incubator in partnership with the nonprofit Filene Research Institute, a consumer finance think tank. The incubator is seeking … Continue reading “WI Watchlist: E-Scooters, CUNA Incubator, Curate Funding & More”
Healthtech Investor Flare Capital Raises $255M for Second Fund
Flare Capital Partners, a Boston-based venture capital firm investing in healthcare technology, has raised $255 million for its second fund. Co-founder and general partner Michael Greeley says his focus had been to keep the new fund in the mid-sized range, large enough to make follow-on investments into companies’ later rounds, but not too large. “As … Continue reading “Healthtech Investor Flare Capital Raises $255M for Second Fund”
Moving Services Startup HireAHelper Acquired By Seattle’s Porch
HireAHelper.com, an online marketplace that links people who are moving to a new home with local movers and related services, has been acquired by Porch, which operates a marketplace that connects people with a variety of home repair and improvement services. The Seattle, WA-based acquirer says that last year it facilitated more than 2 million … Continue reading “Moving Services Startup HireAHelper Acquired By Seattle’s Porch”
Acadia Pharmaceuticals Drug Fails in Late-Stage Schizophrenia Trial
Acadia Pharmaceuticals’ treatment for Parkinson’s disease-related psychosis failed a Phase 3 trial that was studying use of the drug for schizophrenia patients who haven’t fully responded to existing therapies. The company announced the trial failure Monday after market close. Acadia (NASDAQ: [[ticker:ACAD]]) shares dropped about 4 percent on the news in after-hours trading, falling from … Continue reading “Acadia Pharmaceuticals Drug Fails in Late-Stage Schizophrenia Trial”
Microsoft’s $1B For OpenAI Aimed at Improving Azure Cloud Platform
Microsoft announced Monday it will invest $1 billion in OpenAI, a young venture that aims to democratize the benefits of artificial intelligence and software-driven automation. The Redmond, WA-based tech giant says it will work with OpenAI in coming years to enhance Microsoft’s existing cloud computing and AI platform, Azure. San Francisco-based OpenAI says it plans … Continue reading “Microsoft’s $1B For OpenAI Aimed at Improving Azure Cloud Platform”
Software Intelligence Firm Dynatrace Aims to Raise $427M in IPO
[Updated 7/22/19, 1:15 pm: Added IPO timing and updated headline.] Enterprise software business Dynatrace plans to take in $427.2 million from its initial public offering, the Waltham, MA-based company says in a new filing that sets the terms for its intended public market debut. The company says it will sell 35.6 million shares at a potential … Continue reading “Software Intelligence Firm Dynatrace Aims to Raise $427M in IPO”
Joyn Bio Reaches Deal to Tap Into NewLeaf’s Plant Microbe Library
Joyn Bio, a biotech company developing microbes engineered for agricultural applications, is adding microbes from NewLeaf Symbiotics to its toolbox in an effort to get to market faster and expand the scope of its research. The partnership announced Monday gives Joyn access to NewLeaf’s library of plant-colonizing microbes. Joyn, which is based in Boston and … Continue reading “Joyn Bio Reaches Deal to Tap Into NewLeaf’s Plant Microbe Library”
Spine-Surgery Medtech Startup Carlsmed Merges With Imaging Company
Carlsmed, a San Diego-based medical technology company that’s developing personalized spinal implants, has merged with Precisive Surgical, a spine imaging system startup in Seattle. The combined company, which will operate in San Diego under the Carlsmed name, aims to create a platform that will use imaging recognition technology, 3D printing, and other tools to allow … Continue reading “Spine-Surgery Medtech Startup Carlsmed Merges With Imaging Company”
Could Facebook’s Crypto Break Financial System? Congress Airs Fears
In late 2017, a federal watchdog unit assigned a working group to keep an eye on cryptocurrencies such as Bitcoin, and to sound an alert if those alternate currencies showed signs of becoming a risk to the stability of the US financial system. Soaring prices of Bitcoin and other so-called digital tokens were attracting investments … Continue reading “Could Facebook’s Crypto Break Financial System? Congress Airs Fears”
Bio Roundup: Opioid Exposé, Gilead’s Gambit, Life Science IPOs & More
The opioid crisis reaches all corners of the nation, and newly released data this week revealed how the growth of the epidemic tracked with a massive increase in the production and distribution of these drugs. From 2006 to 2012, the number of pills distributed to pharmacies increased by more than 50 percent. In total, 76 … Continue reading “Bio Roundup: Opioid Exposé, Gilead’s Gambit, Life Science IPOs & More”
Boston Tech Watch: Medumo, Zilla, Armored Things, Fortify & More
The week in Boston tech news hit on all the highlights: health technology, 3D printing, crypto, blockchain, CEO moves, fintech, and plenty of venture cash. Read on for the details: —Healthcare technology startup Medumo has been acquired by Netherlands-based Philips (NYSE: [[ticker:PHG]]). The company’s patient navigation technology provides instructions and patient resources through text message … Continue reading “Boston Tech Watch: Medumo, Zilla, Armored Things, Fortify & More”
San Diego Roundup: Qualcomm, Philter, Stella Labs, VC Funding & More
Comic-Con International may be holding everyone’s attention this week, but the tech community has stayed busy amid all the action (and increased traffic). Let’s catch up with the latest tech news in San Diego. —San Diego’s AONDevices was among 10 startups selected to compete at a recent pitch competition hosted by the corporate venture capital … Continue reading “San Diego Roundup: Qualcomm, Philter, Stella Labs, VC Funding & More”
VMWare Plans to Acquire Bitfusion for Application-Enhancing Software
Austin—VMWare announced Thursday it intends to acquire Bitfusion, a startup with offices in Austin, TX and Silicon Valley that makes software aimed at optimizing the way hardware such as graphic processing units are used by applications. Terms were not disclosed. Bitfusion’s software is particularly useful for companies using artificial intelligence and machine learning technology in … Continue reading “VMWare Plans to Acquire Bitfusion for Application-Enhancing Software”
Kronos Bio Reels In $105M for Drugs That Hit “Undruggable” Targets
Kronos Bio has raised $105 million in financing to develop therapies intended to target disease-causing proteins that have so far eluded the best efforts of drug hunters. The Series A round of funding announced Thursday was led by Vida Ventures and Omega Funds. Drugs typically work by either binding to a target site on a … Continue reading “Kronos Bio Reels In $105M for Drugs That Hit “Undruggable” Targets”
Genmab, Mirum Pharma & Fulcrum Raise $653M in Wall Street Debuts
Initial public offerings took a brief summer break the week of Independence Day, but healthcare IPO activity resumed this week as three more companies joined the US public markets. Here’s a recap of the biotech companies that priced IPOs Wednesday evening. —Genmab is different from the other life science companies that joined the public markets … Continue reading “Genmab, Mirum Pharma & Fulcrum Raise $653M in Wall Street Debuts”
San Antonio to Honor Regenerative Medicine Pioneer Stephen Badylak
San Antonio — Ah, to be able to regrow a missing limb like a slimy salamander—a trick long dreamed of by youngsters and scientists alike. Research into such regenerative abilities has increasingly excited the scientific community during the past 30 years as it has gained further insight into the potential of the extracellular matrix, a … Continue reading “San Antonio to Honor Regenerative Medicine Pioneer Stephen Badylak”
Trefoil Therapeutics Raises $28M and Eyes the Clinic for Cornea Drug
Trefoil Therapeutics, which is developing treatments for diseases that affect the cornea, the outermost layer of the eye, has raised $28 million to move its lead drug candidate into human testing. The company is developing an engineered form of fibroblast growth factor-1 proteins (FGF-1) as a treatment for corneal diseases such as Fuchs’ dystrophy, which … Continue reading “Trefoil Therapeutics Raises $28M and Eyes the Clinic for Cornea Drug”
Skyhawk Inks Deal With Genentech for Cancer and Neuro Drug Discovery
Skyhawk Therapeutics has added Genentech to the growing list of companies it’s working with to find new drugs. The deal with Genentech, a Roche subsidiary, calls for Cambridge, MA-based Skyhawk to use its technology to discover and develop RNA-targeting drugs for cancer and neurological diseases. Under the deal announced Tuesday, Genentech receives an exclusive license … Continue reading “Skyhawk Inks Deal With Genentech for Cancer and Neuro Drug Discovery”