We at Xconomy are excited to announce that we are honoring Ivor Royston, co-founder of Hybritech and Idec Pharmaceuticals, with our 2019 Lifetime Achievement Award—the first ever awarded in San Diego. The award recognizes Royston’s wide-ranging career as an academic physician, entrepreneur, investor, and life sciences executive. His foundational role in starting Hybritech, San Diego’s … Continue reading “Ivor Royston Named Xconomy’s 2019 Lifetime Achievement Award Winner in San Diego”
Category: National
Beyond Meat’s IPO Bags $241M to Make Plant-Based Burgers Mainstream
A Beyond Meat burger is coming to a location near you—and soon. The food technology company’s upsized IPO has raised $241 million to finance plans to bring its plant-based “meat” to more grocery stores and restaurants across the country. Beyond Meat priced its IPO Wednesday evening at $25 per share, which was the high end … Continue reading “Beyond Meat’s IPO Bags $241M to Make Plant-Based Burgers Mainstream”
SMA Moment: Will Gene Therapy Shift Treatment, Costs of Muscle Disease?
This is a big moment for people diagnosed with spinal muscular atrophy, or SMA, a rare and potentially lethal genetic disorder that destroys muscles. For decades, there was no way to change the trajectory of their disease. They now have one marketed medicine, and this month, chances are they’ll have another: a gene therapy that … Continue reading “SMA Moment: Will Gene Therapy Shift Treatment, Costs of Muscle Disease?”
Sight Machine Raises $29M to Connect Dots of Manufacturing Enterprises
When it comes to manufacturing, production and quality is everything. Systems to monitor manufacturing have been around for decades, but they aren’t always complete, sometimes only overseeing specific machines or locations. That’s a problem that Sight Machine aims to address with its software that analyzes the manufacturing process. Its technology uses artificial intelligence, machine learning, … Continue reading “Sight Machine Raises $29M to Connect Dots of Manufacturing Enterprises”
Madrona to Invest Beyond Pacific Northwest With New $100M Fund
The biggest backer of technology startups in the Pacific Northwest, Madrona Venture Group, announced a new, $100 million fund Wednesday. The Seattle-based investment firm says it intends to make investments out of its Acceleration Fund in companies outside of the geographic footprint of its current portfolio, and will target companies that are more mature than … Continue reading “Madrona to Invest Beyond Pacific Northwest With New $100M Fund”
Retailers, Startups Work to Offer Efficient E-Commerce Delivery
The on-demand delivery war in retail is on. In its quarterly earnings call Thursday, Amazon (NASDAQ: [[ticker:AMZN]]) announced it would switch to one-day shipping for Prime members, halving the time the 100 million-plus people who subscribe to the service must wait before receiving their purchases. The Seattle e-commerce giant told analysts the move would cost around … Continue reading “Retailers, Startups Work to Offer Efficient E-Commerce Delivery”
Publishers Cengage, McGraw-Hill Merge to Better Target Edtech Market
[Updated 5/1/19, 4;10 pm. See below.] Textbook and edtech companies Cengage and McGraw-Hill are merging to become the second-largest provider of educational materials in the US to compete in what’s proven to be a tough sector for traditional publishers being transformed by digital books and online learning. The deal, announced Wednesday, sets out an all-stock … Continue reading “Publishers Cengage, McGraw-Hill Merge to Better Target Edtech Market”
New Zagster CEO on Bike, Scooter Fleets: Don’t Rock the Boat
For transportation veteran Dan Grossman, the “move fast and break things” startup ethos has never really translated to the micro-mobility world of app-enabled motorized scooters and bike sharing. Grossman last week took the helm of Zagster, a startup that sets up and runs micro-mobility programs for towns, cities, colleges, and businesses. The company launches programs … Continue reading “New Zagster CEO on Bike, Scooter Fleets: Don’t Rock the Boat”
Meet the Xconomy Awards San Diego Digital Trailblazer Finalists
San Diego’s prowess in computer science, medical devices, and life sciences makes it a natural hub of innovative digital health companies. The finalists in the Digital Trailblazer category of the Xconomy Awards San Diego highlight the wide variety of healthtech ideas emanating from local startups and big companies alike, ranging from virtual coaches for physical … Continue reading “Meet the Xconomy Awards San Diego Digital Trailblazer Finalists”
Emtora Biosciences Turns Sights on Rare Genetic Disease, New Funding
San Antonio—Emtora Biosciences, a San Antonio biotech startup formerly known as Rapamycin Holdings, is planning to test its drug, eRapa, as a treatment for a rare genetic disease known as Familial Adenomatous Polyposis (FAP). Emtora plans to begin a Phase 2a trial in late 2019 for the condition, which affects 60,000 people in the United … Continue reading “Emtora Biosciences Turns Sights on Rare Genetic Disease, New Funding”
Washington VC Watch: Pattern Computer, Chatbox, Joylux & More
Catch up on funding news from April involving technology companies based in Washington state: —Pattern Computer, a Redmond-based startup developing pattern discovery software, raised nearly $2.7 million, according to a regulatory filing. The company says its software has potential applications in fields such as oncology and precision medicine, and last month announced a collaboration with … Continue reading “Washington VC Watch: Pattern Computer, Chatbox, Joylux & More”
Ford, Lincoln Owners Can Get Amazon Packages Delivered to Their Cars
Many of us know that anxious feeling that comes when Amazon texts a notification that it has delivered your package, except you’re nowhere near home at the time to receive it. The mind races: is the package sitting out in plain view for would-be thieves to notice? Will it be destroyed by a passing downpour? … Continue reading “Ford, Lincoln Owners Can Get Amazon Packages Delivered to Their Cars”
Anti-Cheating Startup Examity Gets $90M to Advance Edtech Security
Examity has raised $90 million from Boston private equity firm Great Hill Partners to fuel its expansion and dig into how machine learning and biometric tools can make tests proctored online more secure. The Newton, MA-based company says the private equity cash nearly buys out the stake in Examity that University Ventures took when it … Continue reading “Anti-Cheating Startup Examity Gets $90M to Advance Edtech Security”
Roche Spinout Nimble Therapeutics Bags $10M to Find New Peptide Drugs
For the past five years, Jigar Patel and a group of fellow Roche employees have been quietly developing drug discovery technology at the global pharma company’s outpost in Madison, WI. Now, they’re setting out on their own to see if their approach to identifying promising peptide-based therapies can have an impact on the sector. Patel … Continue reading “Roche Spinout Nimble Therapeutics Bags $10M to Find New Peptide Drugs”
Cliently Moves to San Antonio With $1M Round Led by Active Capital
San Antonio—Automated sales software maker Cliently is moving to San Antonio from South Carolina after receiving a $1 million seed funding round led by San Antonio investment firm Active Capital. Cliently sells software to small- and medium-sized businesses that helps them interact with prospective and current clients throughout the sales process. The software can hook … Continue reading “Cliently Moves to San Antonio With $1M Round Led by Active Capital”
Exosomes Head to Wall Street As Codiak Biosciences Lines Up IPO
Do Wall Street investors believe that exosomes, the tiny bubbles once thought to be just cellular garbage bins, may be the key to treating a slew of potential diseases? The coming IPO for Codiak Biosciences will present a test case. Codiak, a Cambridge, MA, company run by former Biogen (NASDAQ: [[ticker:BIIB]]) research chief Doug Williams, … Continue reading “Exosomes Head to Wall Street As Codiak Biosciences Lines Up IPO”
Another $568M, and a $7B Valuation, for Automation Firm UiPath
UiPath, which helps businesses automate tedious digital processes such as billing and inventory control, announced today it raised $568 million from investors who agreed on a $7 billion valuation for the company. New York-based UiPath is one of the automation software companies that have been raking in capital recently as they compete for enterprise customers … Continue reading “Another $568M, and a $7B Valuation, for Automation Firm UiPath”
Vividion Raises $82M to Advance Small Molecule Drugs to the Clinic
Vividion Therapeutics, a biotechnology company that launched in 2017 around discoveries made in Scripps Research Institute labs, has raised $82 million in financing. Nextech Invest, a Swiss investment firm that funds companies developing cancer therapeutics, led the Series B round of funding. As part of the investment, Nextech partner Jakob Loven gets a board seat. … Continue reading “Vividion Raises $82M to Advance Small Molecule Drugs to the Clinic”
Takeda Unites San Diego Operations At New ‘Biotech-Style’ R&D Center
In 2005, Japan’s big drug firm Takeda acquired a company in North America for the first time. That company was Syrrx, a private San Diego-based biotech that used X-ray crystallography to help determine the structures of disease-related molecules so drugs could be designed to target them. Now, 14 years and multiple other acquisitions of North … Continue reading “Takeda Unites San Diego Operations At New ‘Biotech-Style’ R&D Center”
Peloton Therapeutics Plans IPO for Kidney Cancer Drug Clinical Trials
Dallas—Peloton Therapeutics, developer of small molecule drugs to treat kidney cancer and other diseases, has filed for an initial public offering to fund late-stage clinical trials. The Dallas-based biotech, founded in 2010, plans to raise up to $115 million from the IPO, according to its filing with the US Securities and Exchange Commission. Peloton has … Continue reading “Peloton Therapeutics Plans IPO for Kidney Cancer Drug Clinical Trials”
Finding Your Startup Lawyer: What Every Entrepreneur Should Know
Successful management of any new enterprise, regardless of industry, is a process demanding of concerted effort to realize opportunity with a finite set of resources. As an entrepreneur, perfecting your vision, securing and managing funds, building a team, marketing and selling, and executing on plan, all while navigating unexpected obstacles, likely occupy your every day. … Continue reading “Finding Your Startup Lawyer: What Every Entrepreneur Should Know”
AppSheet Raises $15M To Help People Who Aren’t Pro Coders Build Apps
Many of today and tomorrow’s high-paying jobs require a command of computing concepts and programming languages, but learning such skills from the ground up can be a time-intensive and expensive endeavor. While there’s high demand in the job market for people with these technical skills, some companies, such as Seattle-based AppSheet, are offering services designed … Continue reading “AppSheet Raises $15M To Help People Who Aren’t Pro Coders Build Apps”
Elanco Bolsters Pet Products Pipeline With $234M Deal for Aratana
Drugs that treat dogs and cats are some of Elanco’s fastest growing products, and the animal health company is poised to make that category even bigger through a deal to buy pet medicines developer Aratana Therapeutics. Greenfield, IN-based Elanco (NYSE: [[ticker:ELAN]]) announced Friday an agreement to acquire Aratana (NASDAQ: [[ticker:PETX]]) in a stock deal valued … Continue reading “Elanco Bolsters Pet Products Pipeline With $234M Deal for Aratana”
Animal Rescue Groups, PGA, Stryve Biltong, Novo Labs & More TX Tech
Let’s catch up with the latest innovation news in Texas. —Dallas Animal Services won $200,000 in the Innovation Showdown, a pet tech competition, for a customer service system that uses a mobile app and two-way video in order to streamline the adoption process. Day of the Dogs in Houston won $175,000 for its donation platform … Continue reading “Animal Rescue Groups, PGA, Stryve Biltong, Novo Labs & More TX Tech”
Connect, San Diego Venture Group Announce Plan to Merge Operations
Connect, which runs the San Diego region’s longest-standing accelerator program for early-stage startups, is combining its operations with that of the San Diego Venture Group to form an organization that will be better equipped to support young ventures, the two companies said this week. Mike Krenn, who became president of SDVG in August of 2014, … Continue reading “Connect, San Diego Venture Group Announce Plan to Merge Operations”
Boston Tech Watch: Workbar, Modo, Locus Robotics, Zagster & More
Robots, autonomous vehicles, virtual reality laboratories, and lab product e-commerce all brought in venture cash this week. This and much more in the week’s Boston tech news: —Self-driving car startup Optimus Ride has raised $20 million of what it hopes to be a $60 million round, according to SEC documents filed this week by the … Continue reading “Boston Tech Watch: Workbar, Modo, Locus Robotics, Zagster & More”
Bio Roundup: Biogen’s Strategy, Drug Price Convo, NASH News & More
The road to every new drug approval is littered with the remains of earlier failures. Biopharmaceutical companies don’t like to talk about the failures. But it’s earnings season now, so some of them don’t have much choice. Biogen’s (NASDAQ: [[ticker:BIIB]]) earnings call this week was the first since its Alzheimer’s drug aducanumab failed in a Phase … Continue reading “Bio Roundup: Biogen’s Strategy, Drug Price Convo, NASH News & More”
Francisco Partners Buys Stake in PayScale, Exiting Warburg Pincus
PayScale, a Seattle-based compensation data company, announced Thursday it is selling a majority stake in the business to private equity fund Francisco Partners for an undisclosed amount of funding. The deal terms value PayScale at $325 million, the company says. People use PayScale to get an idea of how much particular professions and employers pay. … Continue reading “Francisco Partners Buys Stake in PayScale, Exiting Warburg Pincus”
With $103M Raise, Edtech Firm Coursera Graduates to Unicorn Status
Online education company Coursera announced today it raised $103 million in a Series E equity funding round to expand the international reach of its coursework, degree offerings, and workforce training programs. The fundraising round brings in new investor SEEK Group, an Australia-based job search, education, and workforce matchmaking firm whose affiliated businesses operate in 18 … Continue reading “With $103M Raise, Edtech Firm Coursera Graduates to Unicorn Status”
Dave, More Chips on Aisle 3: Walmart Opens AI-Enabled Store in NY
Walmart has unveiled its “store of the future,” which uses artificial intelligence-enabled cameras to tip off employees when products need to be replenished on shelves or expired meat and produce needs to be replaced. The “Intelligent Retail Lab,” or IRL as the retailer calls it, has been installed at an existing Walmart store in Levittown, … Continue reading “Dave, More Chips on Aisle 3: Walmart Opens AI-Enabled Store in NY”
Gates Foundation-Xinova Tie-Up Aimed at Using Data to Fight Malaria
A pair of Seattle-based organizations want to harness big data to help combat a big global health problem: malaria. Xinova, which operates a global innovation network to help people turn ideas into real-world products and services, said Thursday it’s seeking proposals for improved management of data on medications and supplies used to prevent and treat … Continue reading “Gates Foundation-Xinova Tie-Up Aimed at Using Data to Fight Malaria”
Roswell, Organovo & More: Xconomy Awards Innovation at the Intersection Finalists
[Corie Lok and Frank Vinluan co-authored this article.] Whether they’re 3D printing human tissues, encoding data in DNA, or securing medical devices against cyber attacks, the finalists in the Innovation at the Intersection category of the Xconomy Awards San Diego are showing how to bring different disciplines to bear on tough problems in regenerative medicine, … Continue reading “Roswell, Organovo & More: Xconomy Awards Innovation at the Intersection Finalists”
After NASH Drug’s 2nd Failure, Gilead Pins Hopes on Combo Therapies
[Updated 1:49 p.m. ET. See below.] An experimental Gilead Sciences treatment for the severe fatty liver disease NASH failed to beat a placebo in Phase 3 testing—the second time the drug has failed in a late-stage clinical trial. Gilead (NASDAQ: [[ticker:GILD]]) developed its drug selonsertib to treat nonalcoholic steatohepatitis, more commonly referred to as NASH, … Continue reading “After NASH Drug’s 2nd Failure, Gilead Pins Hopes on Combo Therapies”
To Help Boost Female-led Startups, More Women Join Investor Ranks
Houston—Men have long leveraged their networks to succeed in business, and the tech industry has been no exception. Women, finding themselves outside of the club, are now creating their own networks to do the same. Katelyn O’Shaughnessy already had a solid track record, selling TripScope, a travel startup she co-founded in 2013, to Travefy two … Continue reading “To Help Boost Female-led Startups, More Women Join Investor Ranks”
Announcing Net@50: The Roots and Future of the Internet
The first short message went out over Arpanet, the precursor to the internet, 50 years ago this year—and it changed everything. Much of the change has been wonderful—as the internet has revolutionized communication, commerce, and access to information, in the process transforming and improving the lives of billions of people. But as we are ever … Continue reading “Announcing Net@50: The Roots and Future of the Internet”
Midwest Growth Capital Symposium to Feature VC University Seminar
Later next month, the Midwest Growth Capital Symposium (MGCS) will kick off its 38th annual two-day event dedicated to showcasingthe region’s high-growth companies to a cadre of local and out-of-town investors. During the symposium, 32 companies actively seeking funding will pitch to an audience of more than 500 attendees. There will also be a tech … Continue reading “Midwest Growth Capital Symposium to Feature VC University Seminar”
Avidity Biosciences Gets $35M in Immunology R&D Deal with Eli Lilly
Avidity Biosciences, a biotech developing drugs that deliver bits of RNA and DNA to cells to treat disease, has signed its first strategic pharmaceutical partner. Eli Lilly (NYSE: [[ticker:LLY]]) is paying Avidity $20 million upfront—plus $15 million in equity—for the rights to use the La Jolla, CA, startup’s technology to try and develop new medicines. … Continue reading “Avidity Biosciences Gets $35M in Immunology R&D Deal with Eli Lilly”
NorthStar Secures $75M+ as Medical Radioisotope Competition Revs Up
[Updated 4/25/19, 11 am CT. See below.] U.S. technology startups continue to pull in heaps of cash to try and stave off shortages of a crucial medical radioisotope. NorthStar Medical Technologies said this week it closed a deal to receive up to $100 million in secured debt financing from funds managed by Oberland Capital Management. … Continue reading “NorthStar Secures $75M+ as Medical Radioisotope Competition Revs Up”
Forge Therapeutics, Basilea Sign Deal to Pursue New Antibiotics
Forge Therapeutics, founded in 2015 with the goal of developing drugs that target metalloenzymes, said Wednesday it had agreed to let Basilea Pharmaceutica use its chemistry platform to develop new antibiotics. Basilea, a Swiss company, has previously commercialized two drugs, an antifungal, isavuconazole (Cresemba), and an antibiotic, ceftobiprole (Zevtera). The former is marketed and distributed … Continue reading “Forge Therapeutics, Basilea Sign Deal to Pursue New Antibiotics”
Rackspace Hires Dallas Transit Exec Jones to Replace Eazor as CEO
San Antonio—Rackspace said Wednesday it has hired Kevin Jones, who most recently ran Dallas-based bus and transportation contracting business MV Transportation, as its CEO. Jones replaces Joe Eazor, who had held the top job at Rackspace since mid-2017. Apollo Global Management, which took San Antonio-based Rackspace private in a $4.3 billion acquisition in 2016, didn’t … Continue reading “Rackspace Hires Dallas Transit Exec Jones to Replace Eazor as CEO”
Cybersecurity Firm Digital Guardian Gets $30M Boost, Hires Execs
Digital Guardian is taking in a chunk of capital and adding a slate of new executives to push its cybersecurity software, amid businesses’ renewed concerns over digital attacks and need to comply with the latest privacy and data protection mandates. The Waltham, MA-based company closed on $30 million in new funding led by private equity … Continue reading “Cybersecurity Firm Digital Guardian Gets $30M Boost, Hires Execs”
Biogen, Taking Its Crisis “Seriously,” Keeps Focus on Neuroscience
[Updated, 1:00 pm ET, see below.] A month after the failure of its once-promising Alzheimer’s disease drug aducanumab shattered its share price, Biogen is trying to pick up the pieces. Biogen (NASDAQ: [[ticker:BIIB]]) hosted a conference call Wednesday morning detailing its quarterly results. But financials aside, the call was about the Cambridge, MA, company’s future … Continue reading “Biogen, Taking Its Crisis “Seriously,” Keeps Focus on Neuroscience”
The Designer’s AI Apprentice: Starck & Autodesk Create “AI Chair”
Can an artistic genius and a whip-smart computer get along? French designer Philippe Starck—whose work is a mainstay of museum exhibitions—decided to find out. About two years ago, Starck heard that 3D engineering software company Autodesk (NASDAQ: [[ticker:ADSK]]) was using artificial intelligence software to churn out images of possible products, guided by the design specifications … Continue reading “The Designer’s AI Apprentice: Starck & Autodesk Create “AI Chair””
Teva’s Approved Migraine Drug Fails Again to Blunt Rarer Headache
With a second big clinical failure, Teva Pharmaceutical is abandoning efforts to extend the use of its approved migraine drug to the treatment of cluster headaches, a rarer form of headache that typically affects one side of the head around the eye or the temple. Teva (NYSE: [[ticker:TEVA]]) said Tuesday that an interim analysis of … Continue reading “Teva’s Approved Migraine Drug Fails Again to Blunt Rarer Headache”
CI Security Raises $9.6M to Help Customers Manage Cyber Threats
CI Security, a startup that provides its customers with cybersecurity software and expertise in detecting and responding to digital intrusions and threats, announced Monday it has raised $9.6 million in new funding. Seattle-based CI Security, which was previously known as Critical Informatics, says it plans to use some of the new cash to continue developing … Continue reading “CI Security Raises $9.6M to Help Customers Manage Cyber Threats”
Imbed Biosciences Gets $2M Boost for Silver-Based Wound Dressings
[Corrected 4/23/19, 4:17 pm CT. See below.] Imbed Biosciences, a developer of ultra-thin, silver-based wound dressing materials, will step up its sales and marketing efforts with the help of a fresh $2 million venture investment. The Series A round announced last week was backed by investors including members of Formidable Asset Management and Wisconsin Investment … Continue reading “Imbed Biosciences Gets $2M Boost for Silver-Based Wound Dressings”
Censinet Takes Off With $7.8M to Track Cyber Risks in Healthcare
Censinet, a Boston startup helping hospitals and other healthcare providers manage the cyber risk of their hundreds of third-party vendors, has launched its system and announced $7.8 million in funding to double its headcount in a year, further develop its platform, and market its software. The Series A funding round is led by Boston-based HLM … Continue reading “Censinet Takes Off With $7.8M to Track Cyber Risks in Healthcare”
Join Xconomy for Our 8th Annual Napa Summit, June 13-14
Google. Amazon. Genentech. Those are some of the companies you’ll hear from at this year’s Napa Summit, the Xconomy Retreat on Technology, Jobs, and Growth. This is our most special event of the year—the eighth year we’ve held it—and it’s limited to about 100 VIP guests. We’ll tackle big trends, challenges, and opportunities in areas … Continue reading “Join Xconomy for Our 8th Annual Napa Summit, June 13-14”
ServiceNow Alum’s Perspectium Adds $8M More for Integration Tools
ServiceNow, one of the most valuable software companies ever founded in San Diego, launched in 2003, before enterprise software-as-a-service became a topic of mainstream discussion. Today’s tech landscape is dotted with companies that investors have valued at $1 billion or more—an elite club, members of which have come to be known as “unicorns,” and dozens … Continue reading “ServiceNow Alum’s Perspectium Adds $8M More for Integration Tools”
SPECIAL REPORT: 2019 Blockchain Outlook — Reality Check
After a breakout year in 2017, the blockchain sector suffered a series of blows in 2018, from crashing cryptocurrency prices to increased regulatory scrutiny of crypto ventures and deepening skepticism about whether the technology was actually useful. Now, the industry has entered a crucial phase where blockchain developers need to overcome the limitations of the … Continue reading “SPECIAL REPORT: 2019 Blockchain Outlook — Reality Check”