When San Diego-based NuVasive (NASDAQ: [[ticker:NUVA]]) disclosed the sudden departure of chairman and CEO Alex Lukianov about four weeks ago, a NuVasive spokeswoman said it was unrelated to a two-year investigation of NuVasive by the Office of Inspector General (OIG) of the U.S. Department of Health and Human Services. So it is apparently just a … Continue reading “NuVasive Reaches Tentative Settlement with Justice Department”
Category: National
Waksal’s Kadmon Spins Out Gene Therapy Group But Keeps Details Close
As it heads toward an IPO try, New York biotech Kadmon is lightening its load. The firm announced today it has spun out a gene-therapy subsidiary and expects it to have four products in clinical trials next year with a focus on eye disease. The spinout, Kadmon Gene Therapy Holdings, or KGT, will be run … Continue reading “Waksal’s Kadmon Spins Out Gene Therapy Group But Keeps Details Close”
Detroit and Windsor Join Forces for Cross-Border Health IT Hackathon
Detroit’s first-ever, cross-border healthcare IT hackathon kicks off this evening, as teams from around Michigan and Canada gather at Wayne State University to develop their mobile app and startup ideas before they then spend the weekend refining them. On Sunday, the teams will pitch their ideas at a demo day; at stake is more than … Continue reading “Detroit and Windsor Join Forces for Cross-Border Health IT Hackathon”
Imprivata Buys HT Systems for $19M for Vein-Identifying Device
After spending 13 years providing security and authorization software for doctors, Imprivata has made its first acquisition and is adding a patient identification tool to its product line. Imprivata (NYSE: [[ticker:IMPR]]) is paying $19.1 million upfront to purchase HT Systems, a Tampa, FL-based maker of a device that can scan the veins in a person’s … Continue reading “Imprivata Buys HT Systems for $19M for Vein-Identifying Device”
NephroGenex Preps $30M Stock Offering to Expand Kidney Drug Trial
Kidney disease drug developer NephroGenex (NASDAQ: [[ticker:NRX]]) is raising $30 million in a secondary stock offering to expand the late-stage clinical trial of its lead drug. In paperwork filed with securities regulators, the Raleigh, NC-based company says it expects to price the offering on May 7, after the markets close. NephroGenex’s lead drug, a pill … Continue reading “NephroGenex Preps $30M Stock Offering to Expand Kidney Drug Trial”
Sprinklr Packed April with Another Acquisition, Expands to Brazil
So that’s what Sprinklr was planning. The New York-based social media monitoring company this week wrapped its second acquisition in one month and third this year, snatching up Scup in Brazil. Terms were not disclosed, but the deal broadens Sprinklr’s presence into South America. Scup is also a social media monitoring and management company. Earlier in … Continue reading “Sprinklr Packed April with Another Acquisition, Expands to Brazil”
On-Ramp Wireless Looks to Catch Coming Wave of IoT Technologies
As the Internet of Things comes of age, San Diego’s On-Ramp Wireless may be one of the prototypical companies to emerge among a wave of IoT technologies known as low-power wide-area networks. In contrast to bandwidth-hungry wireless networks that require high power to drive video streaming and other high-volume data applications, low-power networks are intended … Continue reading “On-Ramp Wireless Looks to Catch Coming Wave of IoT Technologies”
East Coast Biotech Roundup: Celgene, Blueprint(s), Intarcia & More
One of East Coast biotech’s preeminent dealmakers was on the march this week: it agreed to one buyout, nabbed an option for another one, invested in an emerging field of science, and expanded its marriage with a high-flying partner—all before reporting its quarterly earnings on Thursday. Eager to find out who it is? Read on … Continue reading “East Coast Biotech Roundup: Celgene, Blueprint(s), Intarcia & More”
Seattle Roundup: Icertis, Blue Origin, UW President Search, & More
This week, we’re following funding news for a Bellevue, WA-based cloud contract management company, Icertis; Blue Origin’s successful test flight of its New Shepard space vehicle; the search for a new University of Washington president; a new class of students at the Ada Developers Academy; Smartsheet’s integration with Microsoft Outlook; and university business plan competitions. … Continue reading “Seattle Roundup: Icertis, Blue Origin, UW President Search, & More”
Aver Informatics Growing Fast After Moving HQ From Wisconsin To Ohio
Aver Informatics, which disappointed Wisconsin startup advocates when it moved its headquarters to Ohio last year, appears to be thriving in its new digs. Aver raised $8.5 million in Series A money from Drive Capital and GE Ventures last May. Three months later, word got out that the healthtech startup was moving its headquarters from … Continue reading “Aver Informatics Growing Fast After Moving HQ From Wisconsin To Ohio”
Believe It or Not, the Government Is Driving Healthcare Innovation
Editor’s note: Jay Sultan, principal strategy advisor at Edifecs, a global health information technology solutions company, has another take on what’s driving innovation in healthcare, following our earlier Xconomist Forum post by former Providence Health and Services CEO John Koster arguing that healthcare is transforming regardless of the Affordable Care Act. Largely missing from the … Continue reading “Believe It or Not, the Government Is Driving Healthcare Innovation”
West Coast Biotech Roundup: Kythera, Amgen, Otonomy, Versant & More
West Coast news this week was dominated by thumbs. Amgen, Otonomy, and Kythera all got a regulatory thumbs-up for their products. Some thumbs were down, however. Celladon’s cardiovascular gene therapy missed two big goals in a late-stage trial. Meanwhile, San Francisco-based Versant Ventures had a big week, announcing a sale of one portfolio company in … Continue reading “West Coast Biotech Roundup: Kythera, Amgen, Otonomy, Versant & More”
Austin Biotech Mirna Therapeutics Nabs Nearly $42M in Series D Funding
[Updated 4/20/15 5:01 pm. See below.] Mirna Therapeutics, an Austin,TX, biotech company has raised $41.8 million in a Series D financing to further develop its immuno-oncology drugs. The financing round was led by Baxter Ventures, which was joined by new investors including Eastern Capital, Sante Ventures, Morningside Ventures, Rock Springs Capital, and Celgene. Existing investors … Continue reading “Austin Biotech Mirna Therapeutics Nabs Nearly $42M in Series D Funding”
Atomic Object Takes Off With $2.9M Expansion, Plans to Hire 33 People
Atomic Object, the software development firm headquartered in Grand Rapids, MI, with offices in Detroit and Ann Arbor, today announced that it is investing $2.9 million in an expansion and adding 33 jobs across the state. As part of the expansion, the company will move to a new, 11,000-square-foot office on Wealthy Street in downtown … Continue reading “Atomic Object Takes Off With $2.9M Expansion, Plans to Hire 33 People”
Seed Sumo Announces Eight Tech Startups for new Accelerator Class
Perhaps it’s no surprise that at ground zero of Texas A&M University football madness, a tech accelerator would select its startups based on a methodology used for the gridiron. Bryan, TX-based Seed Sumo has announced its second class of eight startups for its three-month program. (Bryan is a neighbor to College Station, TX, Texas A&M’s … Continue reading “Seed Sumo Announces Eight Tech Startups for new Accelerator Class”
Crayon Gets Cash to Bring Web Designs to the Marketing Masses
The world runs on marketing. Increasingly, that means digital marketing. Using software from companies like HubSpot, Marketo, and Eloqua, fortunes have been (and will be) made over the ability to attract potential customers via websites, social media, and e-mail—and get them to buy what sites are selling. Yet your average Joe Digital Marketer doesn’t have … Continue reading “Crayon Gets Cash to Bring Web Designs to the Marketing Masses”
“Hardware Meets Software” In New Launch Milwaukee Hackathon
Milwaukee entrepreneurs, engineers, and designers with software or hardware backgrounds will soon have a new outlet for their ideas: Launch Milwaukee. The weekend hackathon was announced this week and will be held June 5-7 at Ward4, the new co-working space being opened in the Historic Pritzlaff Building by Milwaukee venture fund CSA Partners. Brandon Alberti … Continue reading ““Hardware Meets Software” In New Launch Milwaukee Hackathon”
Bitcoin Startup Circle Grabs $50M to Add U.S. Dollar to Payment System
Circle, a bitcoin-based payment and money transfer business headquartered in Boston, has received $50 million in a new financing round led by Wall Street titan Goldman Sachs and Chinese venture capital firm IDG Capital Partners. The company is using the funding to add capabilities, such as letting its customers hold, send, and receive U.S. dollars. … Continue reading “Bitcoin Startup Circle Grabs $50M to Add U.S. Dollar to Payment System”
Triangle Tech Companies Tap Into Patient-Driven Healthcare Trends
As healthcare costs rise and doctor shortages loom, local technology companies are ramping up development of software to make physicians and treatment more accessible to patients nationwide. TouchCare, a Durham, NC-based startup, launched an Android-compatible version of its telemedicine mobile app earlier this month. And Polyglot, a Morrisville, NC-based software company that simplifies prescription instructions and tracks … Continue reading “Triangle Tech Companies Tap Into Patient-Driven Healthcare Trends”
With $46M Haul, MyoKardia Becomes Third Rock’s Latest IPO Prospect
MyoKardia got a stamp of validation with its first partnership last year. Now it’s become the latest in a string of biotechs to bring some “crossover” investors to the table. The South San Francisco, CA-based startup, which is developing targeted drugs for certain forms of heart disease, has bagged a $46 million Series B round. … Continue reading “With $46M Haul, MyoKardia Becomes Third Rock’s Latest IPO Prospect”
Reflections on the “Build to Buy,” Part 2: The Applicability Problem
In a prior Xconomy post, I explored the unwritten and often hidden challenges of successfully navigating and completing a ‘build to buy’ acquisition. The fundamental issue that underlies those challenges is that the acquirers in these deals are not in the business of developing a single asset in a disciplined, focused manner. These buyers are … Continue reading “Reflections on the “Build to Buy,” Part 2: The Applicability Problem”
DC-Based Incubator 1776 Buys Hattery, Gains West Coast Outpost
Two-year-old incubator and seed fund 1776 helps startups make government connections in Washington, D.C., and now it’s setting up shop in San Francisco to strengthen its links to Silicon Valley’s VCs. Its new outpost is at Hattery, a co-working studio and event space that 1776 is buying for an undisclosed sum from long-time associates who … Continue reading “DC-Based Incubator 1776 Buys Hattery, Gains West Coast Outpost”
Blueprint Medicines Bags $147M in Upsized IPO
Blueprint Medicines of Cambridge, MA, is the latest biotech to raise more cash than expected in an IPO. The developer of experimental cancer therapies sold 8.15 million shares at $18 apiece Wednesday evening, bringing in nearly $147 million, according to research firm Renaissance Capital. Last week, Blueprint projected it would sell 7.2 million shares at … Continue reading “Blueprint Medicines Bags $147M in Upsized IPO”
Do “Living Buildings” Make Economic Sense for Commercial Developers?
The Bullitt Center earlier this month lived up to its billing as the world’s greenest commercial office building. It earned certification through the Living Building Challenge after a year of operations in which the six-story, timber-framed edifice—and its tenants—consumed less energy than was generated by its rooftop solar array, drew no water from the municipal … Continue reading “Do “Living Buildings” Make Economic Sense for Commercial Developers?”
ERA Demo Day and Growing Signs of New York’s Startup Hub Maturity
The latest demo day for New York’s Entrepreneurs Roundtable Accelerator was a step forward, but more work lies ahead for the program and the city. “A lot has changed since 2011 for all of New York tech,” said Jonathan Axelrod, a managing director with ERA. He shared a few thoughts Tuesday at the start of … Continue reading “ERA Demo Day and Growing Signs of New York’s Startup Hub Maturity”
Preeclampsia Test Developer Carmenta Bought For Undisclosed Sum
Any expectant parent knows that preeclampsia—a kind of high blood pressure during pregnancy—is a dreaded possibility. It can be fatal for mother and baby, and it can be difficult to diagnose. Matthew Cooper (pictured) knows the danger all too well, nearly losing his wife to the condition in 2005. Seven years later, he started a … Continue reading “Preeclampsia Test Developer Carmenta Bought For Undisclosed Sum”
Health IT Venture Firm Rebrands as Flare Capital Partners, Closes $200M Fund
The healthcare technology-focused venture capital firm formerly known as Foundation Medical Partners is rebranding as Flare Capital Partners. The new name coincides with the close of a new $200 million fund, from which Flare has already made five investments, according to general partner Michael Greeley. Boston-based Flare decided to rebrand because of the heavy use … Continue reading “Health IT Venture Firm Rebrands as Flare Capital Partners, Closes $200M Fund”
Houston2035: A Tech-Savvy Leadership Would Boost City’s Prospects
In 20 years, Houston’s technology sector will be a critical part of our region’s ability to survive and thrive. Xconomy’s Houston 2035 event brings together some of the best voices to speak about this future. When these people talk, I listen. Houston 2035 is a daylong conference on May 21 that convenes all sorts of interesting entrepreneurs, investors, … Continue reading “Houston2035: A Tech-Savvy Leadership Would Boost City’s Prospects”
Viking Therapeutics Set to Make Nasdaq Debut Following IPO
Viking Therapeutics (NASDAQ: [[ticker:VKTX]]) said its shares are expected to begin trading today, after the San Diego biopharmaceutical raised $24 million in its initial public offering last night by selling 3 million shares at $8 a share. The price fell within the $7 to $9 range set last week, when Viking expected to raise $20 … Continue reading “Viking Therapeutics Set to Make Nasdaq Debut Following IPO”
Stealthy Data-Storage Unicorn Infinidat Breaks Out with $150M Round
Search for information about Infinidat, the latest data storage company founded by industry legend Moshe Yanai, and you’ll come up with surprisingly little. At least, you would until today. That’s likely to change after Infinidat announced Wednesday it has raised $150 million in a Series B round led by TPG Growth, the venture capital fund … Continue reading “Stealthy Data-Storage Unicorn Infinidat Breaks Out with $150M Round”
Celgene, Versant Shake Again, Cut $30M Deal For Toronto Biotech
Celgene (NASDAQ: [[ticker:CELG]]) is paying $30 million for the right to acquire a brand-new biotech, Northern Biologics, that is the first product of a Toronto incubator that the big Summit, NJ, drugmaker has helped fund. Northern is developing protein therapies, using monoclonal antibodies to treat cancer and fibrotic disease. It got its first funding in … Continue reading “Celgene, Versant Shake Again, Cut $30M Deal For Toronto Biotech”
Ariad Searches For New Leader As Berger Steps Down, Ending Proxy Battle
Harvey Berger founded Ariad Pharmaceuticals, ran it for more than two decades, and stayed in charge even as the Cambridge, MA-based company’s fortunes turned sour a few years ago. Today, however, Berger has reached the end of that long, controversial road. Ariad (NASDAQ: [[ticker:ARIA]]) said this morning that Berger will retire as its chairman and … Continue reading “Ariad Searches For New Leader As Berger Steps Down, Ending Proxy Battle”
Fetch Unveils Robot Duo to Adapt Warehouses for Quick-Delivery Era
Consumers are getting spoiled—not only do they want movies on demand via digital networks, they also want physical things like books and diapers delivered almost as fast. Amazon, which has fueled these consumer expectations, uses colonies of Kiva robots in automated warehouses to help achieve its fast shipping times. Modest-sized retailers and distribution centers can’t … Continue reading “Fetch Unveils Robot Duo to Adapt Warehouses for Quick-Delivery Era”
In Venture Reinvention, Versant Sees Gains Amid Biotech Boom Times
There’s not much ice in San Francisco, where I grew up, so hockey metaphors often go right over my head. But I can’t resist noting that Versant Ventures, led by a former hockey player, has made big line changes this decade to be able to skate another day, while many of its biotech venture peers … Continue reading “In Venture Reinvention, Versant Sees Gains Amid Biotech Boom Times”
Kaiser Permanente Ventures Leads $12.5M Investment in Validic
The healthcare market continues to see a torrent of new apps, wearables, and medical devices, and digital health startup Validic is boosting its financial position to help healthcare providers connect with all this new technology. The Durham, NC, company says it has raised $12.5 million in a Series B round led by Kaiser Permanente Ventures, … Continue reading “Kaiser Permanente Ventures Leads $12.5M Investment in Validic”
GreatCall Targets 65+ Market with Health and Safety Services
Back in 1989, an American home protection company named LifeCall began saturating daytime television with ads featuring an elderly woman who uses a pendant device to call a dispatcher, declaring, “I’ve fallen… and I can’t get up!” The melodramatic cry became a catchphrase of American pop culture in the ‘90s. Since then, it has become … Continue reading “GreatCall Targets 65+ Market with Health and Safety Services”
UW-Madison Accelerator D2P Poised to Hatch First Few Companies
Discovery to Product, an experimental accelerator launched on University of Wisconsin-Madison’s campus last year, is starting to churn out its first few companies, organizers say. The program, dubbed D2P, is charged with shepherding promising ideas born on campus to the point of licensing the technology or forming a company that has a good shot at … Continue reading “UW-Madison Accelerator D2P Poised to Hatch First Few Companies”
Grand Rapids Mobile Wallet App, Benefit, Snags $900K
Grand Rapids, MI-based mobile wallet app Benefit said Monday that it has closed on $900,000 in seed funding. Investors were officially undisclosed, but CEO Derik Lolli said they include Start Garden and various angel investors, most based in West Michigan. When Xconomy first covered Benefit in February 2014, the company was hoping to make school … Continue reading “Grand Rapids Mobile Wallet App, Benefit, Snags $900K”
Dallas’ Health Wildcatters Second Class of Startups Raises $4.5M
The Health Wildcatters accelerator in Dallas says its second class of startups have raised $4.5 million since leaving the program in November. Silicone Arts Laboratories, which makes a synthetic skin product, received the most of the companies, closing on a $1.5 million Series A round last month. Tennessee-based Innova was the lead investor and Green Park & … Continue reading “Dallas’ Health Wildcatters Second Class of Startups Raises $4.5M”
Indian Security Software Company Picks Boston to Start U.S. Move
What might be one of the biggest IT security companies you’ve never heard of is trying to make inroads in the U.S. market, and it’s making Boston its bridgehead. Quick Heal Technologies is an India-based software company that has grown to more than 10 million customers and more than 100 countries since it was founded … Continue reading “Indian Security Software Company Picks Boston to Start U.S. Move”
Bigcommerce Buys Fellow Austin Tech Firm Zing
Bigcommerce, a company that builds Web stores for small- and medium-sized businesses, is acquiring an Austin, TX-based business, Zing, that helps retailers manage their business between online and offline. Terms of the deal were not released. Five people from Zing are joining Bigcommerce. Bigcommerce counts about 85,000 retailers worldwide as its customers, up from 55,000 … Continue reading “Bigcommerce Buys Fellow Austin Tech Firm Zing”
Intarcia, Still Private, Nabs $225M More For Diabetes Device
Few biotech startups have been as prolific as Intarcia Therapeutics at raising cash from private investors. And even with its implantable diabetes device in the midst of a massive, risky clinical trial, the Boston-based company still isn’t turning to Wall Street yet to keep its coffers full. Intarcia said late Monday night that it’s closed a … Continue reading “Intarcia, Still Private, Nabs $225M More For Diabetes Device”
Celladon Anticipates Layoffs After Its Gene Therapy Trial Fails
The swiftly turning fortune of San Diego-based Celladon (NASDAQ: [[ticker:CLDN]]) could bring a note of caution to the hot field of gene therapy. One year ago, Celladon said the FDA had granted its “breakthrough therapy” designation for Mydicar, Celladon’s gene therapy treatment for patients with severe heart failure. The company sought the designation based on … Continue reading “Celladon Anticipates Layoffs After Its Gene Therapy Trial Fails”
Diagnostic-Maker Scanadu Lands $35M As FDA Submission Nears
Scanadu, a Mountain View, CA-based startup that’s making a diagnostic device it likens to Star Trek’s famous Tricorders, has received $35 million of Series B funding led by a group of Asian investors as the company readies itself to seek regulatory approval later this year. The round could be a big step as Scanadu tries … Continue reading “Diagnostic-Maker Scanadu Lands $35M As FDA Submission Nears”
Roundup: BoostUp, U-M, GSTV, SPARK-Ed, Business Leaders for MI
Here’s a look at news you may have missed from around Michigan’s innovation hubs: —Detroit-based BoostUp, a website that helps users save for big-ticket purchases such as homes and cars, announced last week that it has won a spot in the 2015 class at the REach accelerator in Chicago. The accelerator is part of Second … Continue reading “Roundup: BoostUp, U-M, GSTV, SPARK-Ed, Business Leaders for MI”
Peloton Pedals Ahead with $30M More, Plans to Double Engineering Team
It looks like the team at Peloton is working up a sweat, having bagged another $30 million for its exercise bikes that stream video classes. Earlier this month, Peloton closed on the Series C round led by True Ventures and Tiger Global Management. John Foley, CEO and founder of Peloton, says the new funding will … Continue reading “Peloton Pedals Ahead with $30M More, Plans to Double Engineering Team”
Startups Vie for “Craigslist Killer” Title As Mobile Claims Focus
Startups have spent years trying to dethrone Craigslist as the ruler of selling used goods—and if not to dethrone, at least to capture some of its users for their apps. Now a new generation of competitors has risen up, all with the goal of converting some of the website’s 50 billion or so monthly pageviews … Continue reading “Startups Vie for “Craigslist Killer” Title As Mobile Claims Focus”
TX Roundup: New Funding, an IPO, Rice Biz Plan winner, & More
Here is the latest innovation news from Xconomy Texas: —The Cancer Prevention and Research Institute of Texas this week announced it has awarded $6 million in cancer research awards. Margarida Santos received $2 million to be recruited to the University of Texas MD Anderson Cancer Center in Houston from the National Cancer Institute, while Xiaochun … Continue reading “TX Roundup: New Funding, an IPO, Rice Biz Plan winner, & More”
Blueprint, Now With 60 Startups, Debuts Latest Healthtech Crop
The numbers are quickly growing for Blueprint Health. Some four years into its existence, Blueprint—the New York City-based healthtech startup incubator—has now helped launch 60 companies. That includes the seven that debuted on Friday at the latest Blueprint demo day at the City Winery in SoHo. The new group, toting digital health solutions for insurance … Continue reading “Blueprint, Now With 60 Startups, Debuts Latest Healthtech Crop”
Look Out, Comcast: Webpass Brings Wireless Internet Service to Boston
There’s a new player in the local Internet service provider wars. Its name is Webpass, and before you renew your cable or DSL contract with Comcast or Verizon, you might want to check it out. Webpass offers very high-speed Internet connections of 100, 200, or 500 megabits per second (Mbps) for residential customers, and the … Continue reading “Look Out, Comcast: Webpass Brings Wireless Internet Service to Boston”