Category: National

Boston Tech Watch: Vaxess, Fusion Power, Wayfair & MassChallenge

An acquisition, accelerator awards, access to venture capital, and arguments over e-commerce sales to migrant detention centers. All that and more in this week’s Boston tech news. Read on for the details. —Email security company GreatHorn says it raised $13 million in a funding round co-led by RRE Ventures and .406 Ventures and joined by … Continue reading “Boston Tech Watch: Vaxess, Fusion Power, Wayfair & MassChallenge”

Commonwealth Fusion Plugs in $115M To Develop Nuclear Reactor

Nuclear energy startup Commonwealth Fusion Systems closed a $115 million Series A funding round to beef up work on the demonstration fusion reactor power plant it hopes could one day be a breakthrough in the fight against climate change. The infusion of cash is coming from Future Ventures, Khosla Ventures, Lowercase Capital, Moore Strategic Ventures, … Continue reading “Commonwealth Fusion Plugs in $115M To Develop Nuclear Reactor”

Providence St. Joseph to Buy Wisconsin Health IT Consultant Bluetree

Providence St. Joseph Health, a large network of hospitals and clinics headquartered in Renton, WA, said Thursday it plans to acquire Bluetree Network, a consultancy that specializes in projects involving electronic health records software. Providence did not say how much it will pay to acquire Madison, WI-based Bluetree in a news release announcing the deal, … Continue reading “Providence St. Joseph to Buy Wisconsin Health IT Consultant Bluetree”

What’s Worth $34B? IBM Gets OK in Europe for Acquisition of Red Hat

IBM’s acquisition of open-source software maker Red Hat cleared the hurdle of approval from European regulators Thursday because it raised no concerns about competition, according to the European Commission. The $34 billion deal, which the companies plan on closing in the second half of 2019, drew attention when it was announced last fall for being … Continue reading “What’s Worth $34B? IBM Gets OK in Europe for Acquisition of Red Hat”

Degreed Raises $75M to Expand in Growing Workforce Training Sector

Degreed, which helps businesses upgrade the skills of their staffers through an online gateway to learning resources, announced Thursday it has raised $75 million to grow the service and expand internationally. San Francisco-based Degreed is among the educational technology companies now classified as “learning experience platforms,’’ because they organize staff participation in skills development training … Continue reading “Degreed Raises $75M to Expand in Growing Workforce Training Sector”

BridgeBio Upsizes IPO to $348M, Topping Adaptive’s Wall Street Debut

Rare disease drug developer BridgeBio is now a public company, raising $348.5 million in the biggest biotech IPO so far this year. On Wednesday night, BridgeBio priced its stock offering of 20.5 million shares at $17 each, topping the $14 to $16 per share price range it had initially targeted. The Palo Alto, CA, company … Continue reading “BridgeBio Upsizes IPO to $348M, Topping Adaptive’s Wall Street Debut”

Sequencing Firm Adaptive’s $300M IPO Comes With Pharma Ambitions

If biotech’s historic bull run is losing steam, as some observers believe, this week is one hell of a final stampede. Adaptive Biotechnologies of Seattle just raised $300 million. BridgeBio Pharma of Palo Alto, CA, has topped it, raising $348.5 million. Both begin trading Thursday. The combined haul is a remarkable sum, more than 2 … Continue reading “Sequencing Firm Adaptive’s $300M IPO Comes With Pharma Ambitions”

“More to Life Than Profit”: Protest at Wayfair for Sales to Migrant Camp

Wayfair employees in Boston walked off the job Wednesday afternoon to take a stand against furniture sales the company made to two US government detention centers in Texas that are holding child migrants. Hundreds of workers at the home goods e-commerce company flooded out into Copley Square where they were greeted by a cheering crowd … Continue reading ““More to Life Than Profit”: Protest at Wayfair for Sales to Migrant Camp”

Mirati Stock Sale Targets $200M as Lead Cancer Drug Starts Phase 3

Mirati Therapeutics plans to raise more than $200 million this week in a public offering, funding that it plans to use to advance its lead cancer drug candidate, sitravatinib, into late-stage testing, and to continue developing its other targeted oncology programs. The San Diego company said Tuesday that it would sell 2.1 million shares of … Continue reading “Mirati Stock Sale Targets $200M as Lead Cancer Drug Starts Phase 3”

Detroit’s StockX Gains Unicorn Status After $110M Series C Investment

Southeast Michigan is now home to another unicorn startup. Detroit-based e-commerce company StockX announced Wednesday that it has raised $110 million in a Series C funding round, increasing the company’s total value to more than $1 billion. The investment was led by DST Global, General Atlantic, and GGV Capital. In a statement announcing the funding … Continue reading “Detroit’s StockX Gains Unicorn Status After $110M Series C Investment”

PanTheryx Lands $50M to Use “First Milk” to Target Gut Microbiome

[Corrected, 6/28/19. See below.] There’s a reason why mothers are instructed to breastfeed their babies soon after they’re born. The milk they produce in the days after giving birth is rich in nutrients, immune cells, and antibodies. While this “first milk,” also known as colostrum, is crucial in getting newborns off to a healthy start, … Continue reading “PanTheryx Lands $50M to Use “First Milk” to Target Gut Microbiome”

XLerate Health Launches Early-Stage Startup Accelerator in Flint

Anyone who has followed the Flint water crisis for the past few years probably thinks of the post-industrial Michigan city as a place that can’t seem to catch a break. Five years after a state-appointed city manager switched the municipal water source to the notoriously polluted Flint River and poisoned residents, the city’s people are … Continue reading “XLerate Health Launches Early-Stage Startup Accelerator in Flint”

Encoded Nabs $104M, Illumina’s Help, to Push Gene Therapy’s Limits

Despite the progress of gene therapy—a cutting edge medicine promising long-lasting effects from a single treatment—it remains a crude and limited tool. Startup Encoded Therapeutics has raised $104 million to join the race to expand gene therapy’s reach. The South San Francisco, CA, company has emerged from the startup accelerator of Illumina (NASDAQ: [[ticker:ILMN]]), and … Continue reading “Encoded Nabs $104M, Illumina’s Help, to Push Gene Therapy’s Limits”

Acutus, Maker of Next-Gen Electrophysiology Tech, Adds $100M Series D

A company that makes a mapping system to help doctors see high-resolution, 3D images of irregular heart rhythms in real time has raised $100 million in venture investment and a $70 million credit facility to fund its full-scale market launch. Acutus Medical, based in the northern San Diego community of Carlsbad, was founded in 2011. … Continue reading “Acutus, Maker of Next-Gen Electrophysiology Tech, Adds $100M Series D”

Hate to Pump Gas? Booster Scores $56M to Scale Mobile Fill-Ups

Booster, an on-demand service that fills gas tanks for car owners while they shop at a mall or work at their office desks, announced Tuesday it has raised $56 million to expand into new territories. San Mateo, CA-based Booster runs about 70 mini fuel tankers that circulate at office complexes, sports clubs, and other commercial … Continue reading “Hate to Pump Gas? Booster Scores $56M to Scale Mobile Fill-Ups”

Broad, Berkeley Return to Argue CRISPR Invention at Patent Office

A special board of the US Patent and Trademark Office has reignited the long-running patent fight over who invented the groundbreaking CRISPR-Cas9 gene editing system. Nearly a year ago, the matter seemed put to rest after a federal court upheld a ruling of the same patent office board. The court validated a key 2014 patent … Continue reading “Broad, Berkeley Return to Argue CRISPR Invention at Patent Office”

Led by Tech, Healthcare Debuts, IPOs in 2019 Show Positive Returns

Even as Uber, Lyft, and other high-profile initial public offerings underperformed out of the gate, the average share price of companies that have gone public in the US this year is up by almost 33 percent. That’s according to data based on the mean returns of issuers that started trading through June 19, released by … Continue reading “Led by Tech, Healthcare Debuts, IPOs in 2019 Show Positive Returns”

Funds for Phlur, Arrive Logistics, Aunt Bertha & More TX Tech News

Let’s catch up with the latest innovation news in Texas. —Austin-based fragrance maker Phlur raised $7 million in a Series A round, the company announced. The investment was led by Symrise and included earlier investor Next Coast Ventures and new investor Belcorp, which Phlur said is the second largest beauty company in South America. Phlur … Continue reading “Funds for Phlur, Arrive Logistics, Aunt Bertha & More TX Tech News”

Everactive Snags $30M Series C to Advance Battery-less IoT Sensors

Everactive, a Bay Area startup, has raised $30 million in a Series C funding round. The investment was led by Future Fund with participation from Blue Bear Capital, ABB Technology Ventures, New Enterprise Associates, and Osage University Partners. The company has raised $63 million since its inception in 2012. Everactive, formerly known as Psi Kick, … Continue reading “Everactive Snags $30M Series C to Advance Battery-less IoT Sensors”

AbbVie to Pay $63B for Allergan to Prepare for Life Without Humira

[Updated, 10:11 am ET, see below.] Pharmaceutical giant AbbVie this morning agreed to acquire Allergan in a $63 billion deal meant to provide the pharmaceutical giant with enough revenue to brace for the loss of patent protection for the world’s top-selling drug. AbbVie (NYSE: [[ticker:ABBV]]) will pay $188.24 per share in cash and stock for … Continue reading “AbbVie to Pay $63B for Allergan to Prepare for Life Without Humira”

Conatus to Slash Staff, Consider Sale After NASH Trial Failures

Conatus Pharmaceuticals said Monday that it would cut its staff by 40 percent and consider a sale or merger after a drug it was testing as a treatment for an increasingly common form of chronic liver disease failed to beat a placebo in a mid-stage clinical trial—the latest letdown in a number of trial failures. … Continue reading “Conatus to Slash Staff, Consider Sale After NASH Trial Failures”

Dems and GOP Senators Unite Versus Big Tech on Data Privacy Bills

To hear some people talk, you’d think the age of bipartisan action in Congress was a lost phenomenon of the distant past. But it’s not so, at least when it comes to certain issues. And no one knows it better than the big Silicon Valley tech companies that are the recent targets of proposed bipartisan … Continue reading “Dems and GOP Senators Unite Versus Big Tech on Data Privacy Bills”

Review: Inside the House of Lies at Theranos

Youth. Charm. Fearlessness. Ruthless focus. These can be positive attributes in an entrepreneur, but in a more rational world, technology investors wouldn’t overvalue them. Risk capital would be allocated based mostly on evidence, data, progress towards milestones—in short, on proof. In the real world, of course, proof is hard to come by. Hope, avarice, or … Continue reading “Review: Inside the House of Lies at Theranos”

Locana, Fueled With $55M, Looks to Develop Fixes for Faulty RNA

Editing human DNA has entered the public consciousness in a big way in recent years with its increasing use in laboratories—and, in recent news that shocked the scientific community, in embryos—of tools such as CRISPR-Cas9. Locana, a gene therapy biotech in San Diego, is taking what it describes as a “parallel path” to developing therapeutics … Continue reading “Locana, Fueled With $55M, Looks to Develop Fixes for Faulty RNA”

Ford Initiative Will Crowdsource Mobility Solutions in Detroit

It’s been a year since Ford announced it will refurbish a massive abandoned train station in Detroit and transform it into the anchor of its mobility and autonomous vehicle operations, which will eventually house hundreds of employees. This week, the automaker announced a new program called City:One Michigan Central Station Challenge to solicit ideas for … Continue reading “Ford Initiative Will Crowdsource Mobility Solutions in Detroit”

Bio Roundup: Array Bio Acquired, IPO Spree, Sanofi’s Job Cuts & More

[Corrected 6/24/19, 12:08 p.m. See below.] Cancer remains one of the hottest areas for pharma deals and this week saw a big one: Pfizer’s proposed $11.4 billion buyout of Array Biopharma. The announcement comes less than a month after Boulder, CO-based Array announced positive data from a pivotal study of its combination drug in colorectal … Continue reading “Bio Roundup: Array Bio Acquired, IPO Spree, Sanofi’s Job Cuts & More”

Boston Tech Watch: Polaris, GE, DataRobot, Facial Recognition Woes

[Updated 8:50 am, 6/21/19. See below.] Two weeks-worth of Boston tech news coming your way that covers new cash, executive moves, wary public sentiment on facial recognition, a mega-merger, and more. —Venture capital firm Polaris Partners is looking to raise $400 million for its ninth fund, according to an SEC filing. Polaris has placed bets … Continue reading “Boston Tech Watch: Polaris, GE, DataRobot, Facial Recognition Woes”

Four More Through the IPO Door as Life Science Firms Raise $465M

It’s been a strong year for biotech IPOs and Wednesday shaped up to be a particularly busy day as four life science firms debuted on the public markets. So far this year, 72 companies have gone public, according to IPO research firm Renaissance Capital. That total is down 20 percent compared to the same period … Continue reading “Four More Through the IPO Door as Life Science Firms Raise $465M”

Xconomy Awards: Gilman & Bosley to Emcee Life Science Gala in Boston

Boston—The 2019 Xconomy Awards are designed to celebrate the accomplishments and promise of Boston’s life sciences community, and we are excited to announce the emcees for this year’s gala. Michael Gilman, CEO of Arrakis Therapeutics, and Katrine Bosley, who formerly led Editas Medicine and Avila Therapeutics, will both serve as hosts for this year’s awards … Continue reading “Xconomy Awards: Gilman & Bosley to Emcee Life Science Gala in Boston”

Veracode CEO Sam King on Surviving Whirlwind of Cybersecurity M&A

Life has been changing at Veracode so rapidly in the past two years that you could easily forgive someone for not remembering who owned the company on any given day. Focused on cybersecurity for application development, Burlington, MA-based Veracode had raised about $150 million and grown to a couple hundred employees by 2017 and at … Continue reading “Veracode CEO Sam King on Surviving Whirlwind of Cybersecurity M&A”

Oncolytics Bio Tacks On Cancer Combo Study with Merck KGaA, Pfizer

There’s a speed dating game of sorts happening as pharmaceutical companies that have approved cancer immunotherapies are testing their medications in combination with experimental drugs in hopes of reaching more patients. San Diego’s Oncolytics Biotech (NASDAQ: [[ticker:ONCY]]) has been an active participant in those combination efforts, with multiple pharmaceutical companies pairing its lead drug candidate, … Continue reading “Oncolytics Bio Tacks On Cancer Combo Study with Merck KGaA, Pfizer”

Element Biosciences Lands $15M to Develop New Genetic Analysis Tools

Most of the genetic analysis done today is performed on machines made by Illumina, the DNA sequencing giant. Now a former director from the company is leading a startup that has raised $15 million to develop new genome sequencing tools. San Diego’s Element Biosciences said Tuesday that it had secured a Series A round led … Continue reading “Element Biosciences Lands $15M to Develop New Genetic Analysis Tools”

WI Watchlist: Aaron Rodgers, Redox, Zywave, Rusinow & More

It’s time to catch up on some recent Wisconsin innovation news: —Green Bay Packers quarterback Aaron Rodgers has a new title: venture capitalist. He co-founded and serves as general partner of Rx3 Ventures, a Newport Beach, CA-based firm that recently raised more than $50 million for its debut fund. The fund will make “venture and … Continue reading “WI Watchlist: Aaron Rodgers, Redox, Zywave, Rusinow & More”

With $45M Nurix Deal, Gilead Enters Crowded Protein Degradation Field

Gilead Sciences is turning to Nurix Therapeutics in an effort to discover new drugs that harness the cellular machinery our bodies use to dispose of damaged or harmful proteins. Foster City, CA-based Gilead (NASDAQ: [[ticker:GILD]]) will pay Nurix $45 million up front to kickstart the alliance, through which the companies aim to develop drugs for … Continue reading “With $45M Nurix Deal, Gilead Enters Crowded Protein Degradation Field”

Big Business Has Your Data, and Osano Is Rating How They Handle It

Austin—Anyone who has an Evite account may be a bit wary right now: The company confirmed this month that personal data of some of its users, including names, dates of birth, and mailing addresses, were stolen. Some folks may have changed their password (recommended!), while others may have deleted their accounts to say good riddance. … Continue reading “Big Business Has Your Data, and Osano Is Rating How They Handle It”

Stoke Therapeutics Upsizes IPO, Raises $142M for Dravet Drug R&D

Stoke Therapeutics is the latest biotech company to debut on Wall Street, raising $142 million to test an experimental therapy for a rare form of epilepsy. Stoke does not yet have any human data to show investors, but the Bedford, MA, company was still able to sell more shares than it planned—and at a higher … Continue reading “Stoke Therapeutics Upsizes IPO, Raises $142M for Dravet Drug R&D”

Airbus Bets Microsoft Mixed Reality Will Boost Aircraft Production

Airbus, one of the world’s largest aircraft manufacturers, announced Monday it plans to ramp up production in coming decades with help from hologram-based virtual reality technology developed by Microsoft. Netherlands-based Airbus says it will equip some of its aircraft and equipment designers with HoloLens technology developed by Redmond, WA-based Microsoft (NASDAQ: [[ticker:MSFT]]). The HoloLens system … Continue reading “Airbus Bets Microsoft Mixed Reality Will Boost Aircraft Production”

Ellis Island Tea, Healthy Roots Among QL Detroit Demo Day Winners

Quicken Loans Detroit Demo Day, held Friday evening at the Fillmore downtown, was quite a production. The event involved a number of entrepreneurs pitching their companies from the stage to a panel of judges as well as the crowd, which was voting on people’s choice awards via mobile app. At stake were cash and prizes … Continue reading “Ellis Island Tea, Healthy Roots Among QL Detroit Demo Day Winners”

Invitae Offers $55M for Singular Bio to Expand Prenatal Test Business

Invitae, a maker of a wide array of low-cost genetic medical tests, has reached a deal to acquire Singular Bio to expand its ability to screen babies for disease during the early months of pregnancy. Invitae (NYSE: [[ticker:NVTA]]) said Monday it will pay $55 million in cash and stock to acquire privately held Singular Bio. … Continue reading “Invitae Offers $55M for Singular Bio to Expand Prenatal Test Business”

Colorectal Cancer Data Spurs Pfizer to Pay $11.4B for Array Bio

[Updated 11:02 a.m. See below.] Array BioPharma touted data less than a month ago that could shift the treatment landscape for some patients with metastatic colorectal cancer. The data caught the eye of Pfizer, which just agreed this morning to buy the Boulder, CO, cancer drug maker for $11.4 billion. Pfizer (NYSE: [[ticker:PFE]]) will pay … Continue reading “Colorectal Cancer Data Spurs Pfizer to Pay $11.4B for Array Bio”

Bluebird Bio Sets $1.8M Price on Gene Therapy for Rare Blood Disease

[Updated 3:19 p.m.] The latest price tag for a gene therapy, a treatment meant to provide a long-lasting effect with a single dose, is now set. The treatment, Zynteglo, developed for the rare blood disease beta thalassemia, will cost roughly $1.8 million. Bluebird Bio (NASDAQ: [[ticker:BLUE]]), which just won approval of Zynteglo in Europe two … Continue reading “Bluebird Bio Sets $1.8M Price on Gene Therapy for Rare Blood Disease”

Bio Roundup: Roche-Spark Drags On, GSK Taps CRISPR, Diabetes News & More

Is one of the bigger biopharma acquisitions of the year in trouble? This past week, antitrust regulators once again delayed Roche’s planned $4.8 billion buyout of gene therapy developer Spark Therapeutics (NASDAQ: [[ticker:ONCE]]). The US Federal Trade Commission wants yet more information about the buyout, and overseas, the UK Competition and Markets Authority opened a … Continue reading “Bio Roundup: Roche-Spark Drags On, GSK Taps CRISPR, Diabetes News & More”

Gener8tor to Make Startups From Scratch in Revamped Milwaukee Program

[Updated 6/14/19, 10:25 am CT. See below.] Gener8tor, a Wisconsin-based organization with a growing network of startup accelerators across the Midwest, is shaking up the format of its flagship Milwaukee program in a bid to catalyze entrepreneurship among locals. Instead of seeking applications from existing startups located around the world, this fall’s Gener8tor program in … Continue reading “Gener8tor to Make Startups From Scratch in Revamped Milwaukee Program”

VidMob Adds $25M Led by Austin-Based BuildGroup for Adtech Software

You’ve probably seen a VidMob advertisement, or at least an ad the company had some influence on, and not known it. The New York-based startup has helped make or optimize digital ads created for smartphones for brands ranging from Netflix (NASDAQ: [[ticker:NFLX]]) to Arby’s (“We Have the Meats!”). The company has software that lets the … Continue reading “VidMob Adds $25M Led by Austin-Based BuildGroup for Adtech Software”

Aurora Ends Affiliation with VW as it Begins Collaboration with FCA

Fiat Chrysler Automobiles has arguably been quieter on the autonomous vehicle front than Ford and GM, but this week marked a significant development for the company. FCA announced it will partner with Aurora, a Bay Area startup developing self-driving technologies. The companies did not disclose the financial terms of the arrangement. Wired reports that the … Continue reading “Aurora Ends Affiliation with VW as it Begins Collaboration with FCA”

Can AI Tools, $76M Lead BlackThorn to Targeted Psych Drugs?

It’s notoriously tough for experimental psychiatric drugs to succeed in clinical tests. BlackThorn Therapeutics wants to show that an AI-driven, precision approach can make it easier, and today it’s added another $76 million to get the chance to prove it. The new Series B round will give San Francisco-based BlackThorn—a startup spun out of the … Continue reading “Can AI Tools, $76M Lead BlackThorn to Targeted Psych Drugs?”