Another company headed by former Illumina executives has launched, fueled with a $17 million Series A round from investors including a local venture capital firm. The new firm, Cradle Genomics, is seeking to commercialize improved non-invasive prenatal tests, which analyze blood from a pregnant person to determine whether a fetus will be born with an … Continue reading “Prenatal Testing Firm Cradle Genomics Debuts With $17M, Illumina Ties”
Category: National
Artemis Fund, TechStars Impact, Robin Autopilot, & More TX Tech
Let’s catch up with the latest innovation news in Texas. —Mark Cuban and Serena Williams are among investors to fund maternal health startup Mahmee. The Los Angeles-based startup announced Monday it has raised $3 million from the Dallas Mavericks owner and the tennis star (through her firm Serena Ventures) in a round led by ArlanWasHere … Continue reading “Artemis Fund, TechStars Impact, Robin Autopilot, & More TX Tech”
Amperity Raises $50M for Marketing Software Used by Consumer Brands
Amperity, a Seattle-based startup developing software to help consumer-facing brands collect and manage customer data, announced Monday it has raised $50 million in new financing to add more clients in industries on which it hasn’t previously concentrated. New York-based Tiger Global Management led the Series C funding round. Other participating investors included Goldman Sachs, Madera … Continue reading “Amperity Raises $50M for Marketing Software Used by Consumer Brands”
Aura Wants to Take Its $150M and Stock a Consumer Cybersecurity Toolbox
Two recently combined consumer cybersecurity companies are heading off under a new branding to make a run at providing some online peace of mind for regular folks, and they’re doing it with $150 million in capital from Boston-area venture firm General Catalyst and WndrCo, the West Coast technology investor run by former Disney chairman Jeffrey … Continue reading “Aura Wants to Take Its $150M and Stock a Consumer Cybersecurity Toolbox”
Gilead Ups Stake in Galapagos With $5B Deal to Jumpstart Its R&D
Gilead Sciences on Sunday looked to another firm to rejuvenate its research capabilities, agreeing to put more than $5 billion in cash into Galapagos NV and get access to a slew of experimental drugs in return. Gilead (NASDAQ: [[ticker:GILD]]) will pay Galapagos (NASDAQ: [[ticker:GLPG]]) a whopping $3.95 billion in cash and make a $1.1 billion … Continue reading “Gilead Ups Stake in Galapagos With $5B Deal to Jumpstart Its R&D”
Lendbuzz, AI Auto Startup That Steps in When FICO Fails, Raises $150M
No traditional credit history? No problem. At least that’s how Lendbuzz, a startup that uses artificial intelligence to underwrite auto loans, sees it. The Boston-based software company announced Monday it has raised $150 million in new funding to expand its team and issue more financing backed by its machine learning algorithms. Most of the cash—$130 … Continue reading “Lendbuzz, AI Auto Startup That Steps in When FICO Fails, Raises $150M”
Narrowing AI: A Useful Context for AI Innovation, Opportunity, and Investment
I was asked recently if there was a meaningful analog to AI – its pervasiveness, its transformative potential, its power – in the annals of technology, and I answered with a straight face: “Yes. The Wheel. The Printing Press. Electricity. The Internet.” I truly believe AI is going to be that big, if not bigger, … Continue reading “Narrowing AI: A Useful Context for AI Innovation, Opportunity, and Investment”
Neon’s Early Vaccine Study Is a Peek at Immunotherapy’s Third Wave
In this new age of cancer immunotherapy, two versions have been approved. The first are checkpoint inhibitors, which have begun to change the way skin, lung, and other cancers are treated. The second are CAR-T cell therapies, which have shown promise in blood cancers. A third type of cancer immunotherapy is just now reaching clinical … Continue reading “Neon’s Early Vaccine Study Is a Peek at Immunotherapy’s Third Wave”
Bio Roundup: Michael Becker, Suzanne Eaton, Gene Therapy Moves & More
The life science and healthcare worlds are vast. We often talk about impact in terms of millions of patients and billions of dollars. But these worlds can be small, too. It seems at times we’re never far removed from any one person, through their published papers, social media connections, friends, colleagues, or people they’ve mentored. … Continue reading “Bio Roundup: Michael Becker, Suzanne Eaton, Gene Therapy Moves & More”
Amgen, Novartis BACE Inhibitor Joins List of Failed Alzheimer’s Drugs
Amgen and Novartis are stopping work on an experimental Alzheimer’s disease drug after an early look at clinical data showed worsening cognitive function in patients. The interim results announced Thursday were part of a pre-planned review of data from two pivotal clinical trials testing the drug, umibecestat. Based on that review, Amgen (NASDAQ: [[ticker:AMGN]]) and … Continue reading “Amgen, Novartis BACE Inhibitor Joins List of Failed Alzheimer’s Drugs”
Trump Kills His Administration’s Plan to End Secret Drug Rebates
Donald Trump’s criticism of high drug prices began during the 2016 presidential campaign and continued through his presidency, perhaps most famously just before his inauguration when he said that drug companies were “getting away with murder.” This week has underlined the gap between the administration’s rhetoric and results. Most strikingly, the White House said last … Continue reading “Trump Kills His Administration’s Plan to End Secret Drug Rebates”
Record Exit Value for VC-Backed Startups Could Fuel Investment
More than a third of the companies that went public in the first half of this year were backed by venture capital. That, plus robust merger and acquisition activity, set a record for venture-backed exit value—$165.2 billion in money returned to investors—that’s already topped all other full-year totals, according to the latest VentureMonitor, the quarterly … Continue reading “Record Exit Value for VC-Backed Startups Could Fuel Investment”
Money Transfer Services Remitly Bags $135M in New Equity Funding
As larger sums of cash are remitted from first-world countries to the developing world, upstart money transfer services are competing with established businesses for a piece of the growing pie. One of the newer entrants to the international money transfer market, Seattle-based Remitly, announced this week it has raised $135 million in new equity funding. … Continue reading “Money Transfer Services Remitly Bags $135M in New Equity Funding”
WI Startup Funding Hit Record in 2018 as VCs Cut Bigger Checks
A record $300 million was invested in Wisconsin ventures last year, as maturing businesses pulled in larger funding rounds. But a continued decrease in the number of firms raising their first outside capital could signal trouble for the state’s pipeline of budding startups. Those are some of the key takeaways from the latest Wisconsin Portfolio, … Continue reading “WI Startup Funding Hit Record in 2018 as VCs Cut Bigger Checks”
Grocer H-E-B Explores Autonomous Delivery With SF-Area Startup Udelv
San Antonio — Pretty soon, the milkman may be making a comeback—at least, a robotic version. San Antonio-based grocery chain H-E-B is beginning a pilot program later this year to test out using an autonomous vehicle for grocery delivery. H-E-B plans to test one self-driving vehicle in a single San Antonio neighborhood, Olmos Park. The company … Continue reading “Grocer H-E-B Explores Autonomous Delivery With SF-Area Startup Udelv”
The Finalists for the 2019 Xconomy Awards Are …
After a robust discussion, the editors and judges have narrowed down an impressive list of nearly 300 nominees for the 2019 Xconomy Awards in Boston to an all-star group of almost 60 finalists in 11 categories. Given the overall caliber of our nominees, we know it will be a tight race for the winners. Thankfully, we … Continue reading “The Finalists for the 2019 Xconomy Awards Are …”
Nestlé Sells Gut-Health Test Maker Prometheus Labs, Layoffs Expected
Eight years after San Diego biotech Prometheus Laboratories was acquired by Nestlé Health Science, the diagnostic business has been sold again, this time to a little-known biotech called Precision IBD that plans to lay off approximately a quarter of Prometheus’s workforce. Precision IBD, which is also based in San Diego, is a drug and diagnostic … Continue reading “Nestlé Sells Gut-Health Test Maker Prometheus Labs, Layoffs Expected”
New Funds for Procyrion, Remedy, OncoNano, Vyopta & More TX Tech
[Updated 7/10/19, 11:41 am CT. See below.] Let’s catch up with the latest innovation news in Texas. —Austin startup Vyopta, which makes a video conference system dashboard for businesses, raised $7.5 million in a Series B funding round led by Elsewhere Partners, according to a press release. The investment will be used for additional technology development and … Continue reading “New Funds for Procyrion, Remedy, OncoNano, Vyopta & More TX Tech”
Microsoft, Providence Tie-up Focuses on Cloud Tech in Healthcare
Microsoft, long known for its Windows operating system and prowess in the world of enterprise software, is among the computing and software giants companies making inroads in the healthcare industry. One of Microsoft’s (NASDAQ: [[ticker:MSFT]]) latest efforts to innovate at the intersection of technology and healthcare is a partnership with Providence St. Joseph Health aimed at developing … Continue reading “Microsoft, Providence Tie-up Focuses on Cloud Tech in Healthcare”
Cisco Invests in Optical Tech With $2.6B Acacia Communications Deal
Cisco is buying Maynard, MA-based Acacia Communications (NASDAQ: [[ticker:ACIA]]) for $2.6 billion in a deal to boost the networking giant’s stock of optical technologies, the companies announced Tuesday. The deal values Acacia at $70 per share, a 46 percent premium to its closing stock price Monday, but still a bargain compared with Acacia’s peak share … Continue reading “Cisco Invests in Optical Tech With $2.6B Acacia Communications Deal”
Ross Perot Dies: Tech Pioneer Sold Two Firms For Billions to Dell, GM
Dallas—Ross Perot, the Texan billionaire businessman who twice ran for president in the 1990s, died Tuesday, five months after being diagnosed with leukemia, according to news reports. He was 89. Perot sold his first company, Plano, TX-based computer services business Electronic Data Systems, to General Motors (NYSE: [[ticker:GM]]) in 1984 for $2.5 billion. In 1988, … Continue reading “Ross Perot Dies: Tech Pioneer Sold Two Firms For Billions to Dell, GM”
Honeywell Spinout Resideo Adds to Smart Home Cache, Opens Austin HQ
Austin—[Corrected 11:14 a.m. See below.] Doorbells, thermostats, refrigerators, and more—everything in the modern home is becoming a smart, connected device. (You can even monitor your kitty’s litter box habits with the Litter Robot 3!) There are many other, less frequently discussed appliances that businesses are pitching homeowners on as connected devices, such as air conditioning units … Continue reading “Honeywell Spinout Resideo Adds to Smart Home Cache, Opens Austin HQ”
Black Duck, Veracode Execs Relaunch Cloud Infrastructure Firm Fairwinds
From a host of angles, the business opportunity looked to be a hard one to pass up. The technology business up for sale was: one, self-funded and not saddled by mountains of outside equity; two, profitable and growing; and three, in the middle of the messy but booming world of enterprise software infrastructure. For the … Continue reading “Black Duck, Veracode Execs Relaunch Cloud Infrastructure Firm Fairwinds”
After Amgen’s Spark, Revolution Med Nabs $100M to Push RAS Cancer Drugs
In May, Amgen (NASDAQ: [[ticker:AMGN]]) revealed intriguing data from the first-ever human trial of a drug that targets tumors with a specific mutation to the gene KRAS, which occurs in about one-quarter of all cancers. Amgen showed 30 percent of lung cancer patients with the mutation saw their tumors shrink. Even though the data were … Continue reading “After Amgen’s Spark, Revolution Med Nabs $100M to Push RAS Cancer Drugs”
How Do YOU Think the Internet Will Evolve? A Sampling of Your Tweets
[Editor’s note: This is part of a series examining the internet’s first 50 years and predicting the next half century. Join Xconomy and World Frontiers Forum on July 16 for Net@50, an event exploring the internet’s past and future.] For my feature article “Special Report 2069: Predicting the Internet’s Next 50 Years,” I asked my Twitter … Continue reading “How Do YOU Think the Internet Will Evolve? A Sampling of Your Tweets”
AV Mapping Startup Carmera Joins Baidu’s Open-Source Apollo Platform
Just as Google is developing autonomous vehicles through its subsidiary Waymo, China’s largest online search engine, Baidu, is also racing to develop AVs. Last week, the company announced a new milestone: It has now tested self-driving cars on more than 1 million miles of roadway in 13 Chinese cities. Baidu (NASDAQ: [[ticker:BIDU]]) is playing catch-up … Continue reading “AV Mapping Startup Carmera Joins Baidu’s Open-Source Apollo Platform”
From Buyout to Spinout to IPO? Dynatrace Eyes $300M Public Offering
Dynatrace, a 14-year-old enterprise software intelligence company, has filed papers to raise $300 million from an initial public stock offering aimed at restocking its war chest and shrinking its sizable debt. If it follows through on the IPO plans, the Waltham, MA-based company would list its shares on the New York Stock Exchange under the … Continue reading “From Buyout to Spinout to IPO? Dynatrace Eyes $300M Public Offering”
Performance Management Firm 15Five Pulls in $30M to Scale Up
Many companies have been adjusting to the changing workforce as millennials become a larger component of their staff rosters. Some are adapting with the help of talent management services such as 15Five, which has studied the millennial mindset. San Francisco-based 15Five nudges employers to fill the needs of their customers by better addressing the needs … Continue reading “Performance Management Firm 15Five Pulls in $30M to Scale Up”
As Sangamo Touts Data, BioMarin Preps Hemophilia Gene Therapy For FDA
[Updated 7/8/19, 9:22 am. See below.] Gene therapy for hemophilia is as close as it’s ever been to market. And the race to get there got more heated this past weekend at a medical meeting in Australia. At the International Society on Thrombosis and Haemostasis meeting in Melbourne, Sangamo Therapeutics (NASDAQ: [[ticker:SGMO]]) and partner Pfizer … Continue reading “As Sangamo Touts Data, BioMarin Preps Hemophilia Gene Therapy For FDA”
Future of the Internet: What Scares Networking Pioneer Radia Perlman
[Editor’s note: This is part of a series examining the internet’s first 50 years and predicting the next half century. Join Xconomy and World Frontiers Forum on July 16 for Net@50, an event exploring the internet’s past and future.] Bob Metcalfe co-invented Ethernet, the communications standard still used for most local on-site networking, but Radia Perlman … Continue reading “Future of the Internet: What Scares Networking Pioneer Radia Perlman”
Why Ethernet Inventor Bob Metcalfe is an Internet Optimist
[Editor’s note: This is part of a series examining the internet’s first 50 years and predicting the next half century. Join Xconomy and World Frontiers Forum on July 16 for Net@50, an event exploring the internet’s past and future.] Right alongside Moore’s Law, which describes the exponential growth in computing power since the 1960s, there’s Metcalfe’s … Continue reading “Why Ethernet Inventor Bob Metcalfe is an Internet Optimist”
Healthtech Startups: Connect with HHS Officials in Detroit on July 15
Are you a healthcare technology startup based in Southeast Michigan or Southwest Ontario? If so, you’re invited to attend a one-day-only meeting to connect with representatives from the US Dept. of Health and Human Services, who will be at TechTown Detroit, 440 Burroughs St., from 9 a.m. to 5 p.m. on July 15. MedHealth Startup … Continue reading “Healthtech Startups: Connect with HHS Officials in Detroit on July 15”
Bio Roundup: Duchenne Race, Warren v. Gottlieb, A $599 Genome & More
As we pause to celebrate the 4th of July, another birthday is top of mind: A third baby whose embryonic DNA was edited by Chinese scientist He Jiankui. As Xconomy reported in November, He hinted about a second pregnancy after his infamous revelation of twins altered with CRISPR gene editing tools. That second pregnancy—a third … Continue reading “Bio Roundup: Duchenne Race, Warren v. Gottlieb, A $599 Genome & More”
Talk of Broadcom Buyout of Symantec Puts Broader IT Focus Into View
Broadcom is once, twice, three times a multi-billion-dollar dealmaker (well, basically) in the past year if it follows through on its reported talks to acquire Mountain View, CA-based cybersecurity giant Symantec. The potential acquisition, which was first reported Tuesday by Bloomberg citing anonymous sources, represents Broadcom’s continued (NASDAQ: [[ticker:AVGO]]) interest in broadening its business beyond … Continue reading “Talk of Broadcom Buyout of Symantec Puts Broader IT Focus Into View”
Q&A: Providence Exec on Bluetree Acquisition, Trends in Health Tech
Providence St. Joseph Health, a Renton, WA-based organization that operates 51 hospitals and 829 clinics across five US states, announced its latest strategic, IT-focused acquisition last week. The company Providence has agreed to purchase—financial terms aren’t being disclosed—is Bluetree Network, a Madison, WI-based consultancy that works with healthcare providers to install and optimize electronic health … Continue reading “Q&A: Providence Exec on Bluetree Acquisition, Trends in Health Tech”
Free Workshops, Tools, & Advice? Centrepolis Aids Hardware Startups
Although Michigan is home to 2,500 small manufacturers and is the center of the domestic auto industry, it didn’t have a hardware technology incubator until Lawrence Technological University launched one about a year ago. The Centrepolis Accelerator’s mission is to help grow the state’s advanced manufacturing and hardware ecosystem by providing funding, product- and business-development … Continue reading “Free Workshops, Tools, & Advice? Centrepolis Aids Hardware Startups”
WI Watchlist: Microsoft, Exact Sciences, Shine & MKE Tech Hub
[Updated 7/3/19, 2:25 pm CT. See below.] Before everyone checks out for the Fourth of July holiday, let’s catch up on some recent Wisconsin innovation news: —Shine Medical Technologies has raised $18 million in new funding, a combination of equity and stock options, according to a filing with the SEC. The round could reach $30 … Continue reading “WI Watchlist: Microsoft, Exact Sciences, Shine & MKE Tech Hub”
Ex-Apple UX Guru Don Norman Calls for Replacing the Internet
[Editor’s note: This is part of a series examining the internet’s first 50 years and predicting the next half century. Join Xconomy and World Frontiers Forum on July 16 for Net@50, an event exploring the internet’s past and future.] No one has done more than Donald Norman to teach us that every piece of hardware … Continue reading “Ex-Apple UX Guru Don Norman Calls for Replacing the Internet”
Mercato, Grocery Delivery Startup For “Indie” Retailers, Gets $4M
Delivery services such as Shipt and Instacart deliver groceries to customers’ doorsteps daily. Amazon (NASDAQ: [[ticker:AMZN]]) and Walmart (NYSE: [[ticker:WMT]]) also offer the service, albeit only for their own stores. Large-scale chain stores are the focus of most grocery delivery services. Mercato, a San Diego startup that bills itself as the option for independent grocery … Continue reading “Mercato, Grocery Delivery Startup For “Indie” Retailers, Gets $4M”
Uber Rejiggers App to Highlight Its Bikes, Scooters in San Diego
San Diego is one of two metropolitan areas in which ride-hailing giant Uber has reformatted its mobile app to make it simpler for users to rent an electric bicycle or scooter. With the previous version of Uber’s (NYSE: [[ticker:UBER]]) app, users had to navigate from the main menu to another part of the app to … Continue reading “Uber Rejiggers App to Highlight Its Bikes, Scooters in San Diego”
What Is the Future of the Internet? Experts Predict Next 50 Years
[Editor’s note: This is part of a series examining the internet’s first 50 years and predicting the next half century. Join Xconomy and World Frontiers Forum on July 16 for Net@50, an event exploring the internet’s past and future.] It’s a good thing journalists, pundits, and consultants can’t be held liable for the predictions we … Continue reading “What Is the Future of the Internet? Experts Predict Next 50 Years”
What ARPANET’s History Can Teach Us About Cybersecurity
[Editor’s note: This is part of a series examining the internet’s first 50 years and predicting the next half century. Join Xconomy and World Frontiers Forum on July 16 for Net@50, an event exploring the internet’s past and future.] The internet nearly came with built-in caller ID. The year was 1972: three years after the … Continue reading “What ARPANET’s History Can Teach Us About Cybersecurity”
Flagstar Bank, Detroit FinTech Bay Launch Mortgage Tech Accelerator
Flagstar Bank, headquartered in Troy, MI, and the Detroit FinTech Bay innovation hub are partnering to launch a new mortgage technology accelerator—and program organizers say it’s the first and only US accelerator focused exclusively on incubating tech startups in the mortgage industry. The banking sector in general has been slow to adopt new technologies, says … Continue reading “Flagstar Bank, Detroit FinTech Bay Launch Mortgage Tech Accelerator”
IPO to Watch: Digital Health Developer Livongo Plans to Go Public
Digital health businesses haven’t had trouble raising venture capital funds from investors—2018 was a record year with $8.1 billion in funding—but few of them have made the move to hold initial public offerings. Livongo Health, a digital health company developing devices and software to help patients manage chronic conditions, believes it is ready, announcing Friday … Continue reading “IPO to Watch: Digital Health Developer Livongo Plans to Go Public”
Brain Corp., Maker of Robotics Tech, to Open European HQ in Amsterdam
Brain Corp., a robotics startup whose technology powers automated floor cleaning machines in retail stores, malls, warehouses, and airports, announced Monday it is opening its first European office in Amsterdam, the largest city in the Netherlands. The Amsterdam office will serve as the company’s regional hub for operations, software development, and research and development, Brain … Continue reading “Brain Corp., Maker of Robotics Tech, to Open European HQ in Amsterdam”
Peter Gabriel Joins Net@50 Lineup; Tix Going Fast for July 16 Event
Legendary rock musician and longtime internet evangelist Peter Gabriel has joined the all-star cast of speakers for Net@50, a historic event celebrating the 50th anniversary of the first net message—while also looking ahead to the internet’s next 50 years. The event, put on by the non-profit World Frontiers Forum in association with Xconomy, takes place … Continue reading “Peter Gabriel Joins Net@50 Lineup; Tix Going Fast for July 16 Event”
As Cities Ban Face Recognition, Body-Cam Firm Axon Also Nixes It
This week’s decision by police equipment manufacturer Axon to forego using facial recognition software in its body cameras follows a string of other actions against the use of face-matching technology by public agencies. They include a pioneering ban in San Francisco last month, and another passed Thursday by the city council of Somerville, MA. What … Continue reading “As Cities Ban Face Recognition, Body-Cam Firm Axon Also Nixes It”
San Diego Life Sciences Roundup: MEI Pharma, Turning Point, & More
It was a relatively quiet week in the San Diego life sciences community, but local companies and organizations continue working away. Here’s a look at some recent developments, including companies moving their lead drug candidates into Phase 2 trials, new R&D partnerships, and a reminder to nominate your favorite young’un for a Biocom Catalyst award. … Continue reading “San Diego Life Sciences Roundup: MEI Pharma, Turning Point, & More”
Carnegie Mellon, Argo AI Form $15M Self-Driving Car Research Center
Carnegie Mellon University this week announced a five-year research partnership with Argo AI that will focus on advanced perception and decision-making algorithms for autonomous vehicles (AVs). Argo AI, a Pittsburgh-based self-driving car startup whose majority investor is Ford (NYSE: [[ticker:F]]), is spending $15 million to fund the effort, which will be called the Carnegie Mellon … Continue reading “Carnegie Mellon, Argo AI Form $15M Self-Driving Car Research Center”
Bio Roundup: Merger Drama, FDA Trauma, Big IPOs, CRISPR Fights & More
It was a busy week. If we had to choose a theme, it was all about getting together. Two huge drug companies, AbbVie and Allergan, said they’d be better as one. Two more huge drug companies, Celgene and Bristol-Myers Squibb, learned they would have to leave a big product behind if they want to merge. … Continue reading “Bio Roundup: Merger Drama, FDA Trauma, Big IPOs, CRISPR Fights & More”