[Corrected, 4/23/19, 7:10 p.m. See below.] New cell and gene therapies bring the possibility of cures once hardly imaginable. But the potential cures could also cost millions of dollars, like Novartis (NYSE: [[ticker:NVS]]), the owner of the gene therapy Zolgensma, has suggested in advance of an imminent FDA approval decision. As public backlash against high … Continue reading “Can We Afford to Be Cured? A Conversation With ICER’s Steve Pearson”
Category: National
Aptiv Expands Driverless Car Testing, Opens Chinese Mobility Center
Aptiv, a global automotive technology company, announced last week that it has opened a new innovation hub in China—the fastest growing front in the self-driving tech wars. The new entity is called the China Autonomous Mobility Center, and as a result of the move, Shanghai joins Aptiv’s roster of driverless car testing locations, which also … Continue reading “Aptiv Expands Driverless Car Testing, Opens Chinese Mobility Center”
Chevron’s Burger On Energy Innovation, Houston’s Growing Tech Scene
Houston—Among innovation-focused efforts in Houston, Chevron Technology Ventures is among the longest standing. Founded in 1999, Chevron Tech has launched seven funds up to $100 million each—the latest last month—in search of startups with technologies to hasten the ongoing digitization of the oil and gas industry. To date, the company’s corporate venture arm has made … Continue reading “Chevron’s Burger On Energy Innovation, Houston’s Growing Tech Scene”
MagniX, Eviation Partner to Develop Electric Plane For Short Flights
MagniX and Eviation Aircraft, two businesses working to get the nascent electric airplane industry off the ground, announced a partnership Monday under which Eviation will outfit one of the planes it’s developing with an electric propulsion system made by MagniX. The partnership, which was fittingly unveiled on Earth Day, could ultimately lead to some passengers … Continue reading “MagniX, Eviation Partner to Develop Electric Plane For Short Flights”
Xconomy’s Seattle Event to Explore Tech Convergence in Life Sciences
The lines between biotech and high tech are blurring, and Seattle is one of the country’s hotspots for this convergence. IT innovations for analyzing big data are finding applications in drug discovery research. Smartphones can now be used to collect clinical data and also deliver a new wave of “digital treatments.” On June 25, Xconomy … Continue reading “Xconomy’s Seattle Event to Explore Tech Convergence in Life Sciences”
Poseida to Advance CAR-T For Myeloma with Novartis-Led $142M Round
[Updated 4/23/19 9:10 a.m. See below.] The race to bring CAR-T cell therapy to multiple myeloma, a persistent and deadly cancer of the bone marrow, continued on Monday with a fresh round of funding for Poseida Therapeutics. Swiss pharma giant Novartis has invested $75 million in a $142 million Series C round for San Diego-based … Continue reading “Poseida to Advance CAR-T For Myeloma with Novartis-Led $142M Round”
Upland Software Acquires Email Marketing Business PostUp for $35M
Austin—Upland Software is paying $35 million to acquire PostUp, an email marketing automation company that was founded in 1996 by Joshua Baer. Upland (NASDAQ: [[ticker:UPLD]]) sells applications that help businesses do anything from communicate with customers, manage sales platforms, and automate other financial and professional services. PostUp works with companies in media and publishing, offering … Continue reading “Upland Software Acquires Email Marketing Business PostUp for $35M”
Merck Wins FDA Nod for Combo Therapy in Advanced Kidney Cancer
Merck’s blockbuster immunotherapy has notched FDA approval for treating the most serious cases of kidney cancer. The FDA on Monday approved Merck (NYSE: [[ticker:MRK]]) drug pembrolizumab (Keytruda) in combination with Pfizer (NYSE: [[ticker:PFE]]) drug axitinib (Inlyta) as a first-line treatment for advanced renal call carcinoma—kidney cancer that has spread or grown, despite earlier treatments. Pembrolizumab’s … Continue reading “Merck Wins FDA Nod for Combo Therapy in Advanced Kidney Cancer”
MSU Announces New Student VC Fund, Winners of Inaugural Pitch Contest
Michigan State University students now have an opportunity to dabble in the rollercoaster world of startup funding thanks to a new partnership between Red Cedar Ventures and the Broad College of Business Center for Venture Capital, Private Equity and Entrepreneurial Finance. Launched this week, the Student Venture Capital Fund will invest up to $50,000 per … Continue reading “MSU Announces New Student VC Fund, Winners of Inaugural Pitch Contest”
TerraClear Raises $4.7M for Machine Designed to Pick Rocks from Soil
TerraClear, a Bellevue, WA-based startup launched two years ago with the vision of using software and high-tech machinery to automatically remove rocks from soil farmers plan to grow crops in, has raised nearly $4.7 million to support commercialization efforts, according to a regulatory filing. Three investors participated in the equity funding round, the filing shows. … Continue reading “TerraClear Raises $4.7M for Machine Designed to Pick Rocks from Soil”
Imandra, Innovapptive, Nesh, Kroger Delivery Robots & More TX Tech
Let’s catch up with the latest innovation news in Texas. —Austin-based LiveOak Venture Partners is one of three organizations that led a $5 million investment in Imandra, an artificial intelligence startup based in London, according to a press release. With the funding, Imandra says it will open a US headquarters in the Texas state capital. … Continue reading “Imandra, Innovapptive, Nesh, Kroger Delivery Robots & More TX Tech”
Boston Tech Watch: Algorand, Owl Labs, Cyber Madness & Zapata
This week a blockchain startup opened its system to the public; a quantum computing company raised big bucks; and Raytheon’s cybersecurity business set up shop in Boston. Read on for more. —Blockchain technology startup Algorand has opened a test network to the public for businesses and developers to tinker with and give feedback. The company … Continue reading “Boston Tech Watch: Algorand, Owl Labs, Cyber Madness & Zapata”
Bio Roundup: Nationwide’s Rise, a Surgeon’s Quest, CRISPR USA & More
Persistence and perseverance were the themes of two of our top stories this week. First there’s the story of Nationwide Children’s Hospital. The Columbus, Ohio, hospital chose to invest in gene therapy when the field was in its darkest days. After some ups and downs, the team it put in place helped advance some of … Continue reading “Bio Roundup: Nationwide’s Rise, a Surgeon’s Quest, CRISPR USA & More”
San Antonio Wound-Care Company Eyes (Another) Initial Public Offering
San Antonio—Acelity may become a public company again, eight years after a consortium of private equity firms took the company, then known as Kinetic Concepts, private. KCI Holdings, an affiliate of Acelity, filed paperwork Thursday morning with the US Securities and Exchange Commission that proposes to list its shares on the New York Stock Exchange. … Continue reading “San Antonio Wound-Care Company Eyes (Another) Initial Public Offering”
Bardy Diagnostics to Ramp Up Cardiac Monitor Sales With $35M Raise
Bardy Diagnostics, a Seattle-based business developing a cardiac monitor and arrhythmia detection device, announced this week it has raised $35.5 million from investors to hire additional salespeople and fund continued product development. Bardy’s flagship device is an hourglass-shaped patch that Bardy says is designed to be placed on the center of the patient’s chest, over … Continue reading “Bardy Diagnostics to Ramp Up Cardiac Monitor Sales With $35M Raise”
Hookipa’s IPO Raises $84M for Drugs to Reprogram the Immune System
Hookipa Pharma has raised $84 million in an initial public offering that will fund development of experimental treatments developed to reprogram the immune system to treat infectious diseases and cancer. But Hookipa (NASDAQ: [[ticker:HOOK]]) had to downsize its IPO, offering only 6 million shares at $14 apiece. That was the low end of its targeted … Continue reading “Hookipa’s IPO Raises $84M for Drugs to Reprogram the Immune System”
Accenture Invests in San Antonio Government-Cybersecurity Operations
San Antonio—[Corrected 4/22/19, 2:22 p.m. See below.] Global technology and consulting services company Accenture is building out a facility in San Antonio that will focus on cybersecurity in government operations. Accenture (NYSE: [[ticker:CAN]]) says its Accenture Federal Services subsidiary plans to invest $5 million in the center and its other operations in San Antonio. The … Continue reading “Accenture Invests in San Antonio Government-Cybersecurity Operations”
Humatics, Vecna Partner to Improve Navigation of Self-Driving Robots
Humatics, a Waltham, MA-based startup developing microlocation technology for use in robots and autonomous vehicles, has a new partnership underway with Boston-based Vecna Robotics. Financial terms of the collaboration were not disclosed, but Humatics co-founder and CEO David Mindell describes the relationship as a joint marketing partnership. “We bring customers to them and vice-versa,” he … Continue reading “Humatics, Vecna Partner to Improve Navigation of Self-Driving Robots”
Redox Wrangles $33M to Become Healthcare’s Go-To Data Integrator
[Updated 5/3/19, 12:55 pm CT. See below.] As hospitals and clinics have shifted from paper-based records to digital systems, one of the biggest challenges has been sharing patient data between healthcare providers, and between providers and outside software applications. This “interoperability” problem has created a market for companies such as Redox, a Madison, WI-based startup … Continue reading “Redox Wrangles $33M to Become Healthcare’s Go-To Data Integrator”
It’s Tough to Find Drugs to Bind to RNA: Arrakis Nabs $75M to Help
Arrakis Therapeutics has been scouting elusive pharmaceutical quarry: small molecules able to “drug” RNA, the molecular messengers that carry the genetic instructions for proteins. Most drugs in use today act on proteins. But CEO Michael Gilman says targeting the genetic blueprints could prevent RNA from translating those instructions into disease-causing proteins in the first place. … Continue reading “It’s Tough to Find Drugs to Bind to RNA: Arrakis Nabs $75M to Help”
$100M for Talaris Gives Surgeon a Shot to Reinvent Organ Transplants
When Novartis dissolved its gene and cell therapy unit a few years ago, a bunch of projects the Swiss pharma giant had incubated were tossed aside. One of them was the work of surgeon Suzanne Ildstad, who has spent decades trying to develop a new way to improve the health outcomes of patients who need … Continue reading “$100M for Talaris Gives Surgeon a Shot to Reinvent Organ Transplants”
New Microsoft, Intel Accelerator Seeks Tech to Make Houston Smart
Houston—Sensors that can measure rising waters in real time through internet-connected digital road signs, preventing commuters from driving into flooded underpasses. Traffic signals that use cameras and analytics to adjust the time allowed to cross streets, depending on the individual who is in the crosswalk. Those are among the types of technologies that could be … Continue reading “New Microsoft, Intel Accelerator Seeks Tech to Make Houston Smart”
MedHealth Summit Brings Together Cross-Border Innovators and Experts
As the healthcare industry continues to undergo technology-driven changes, innovators in digital health and medical devices will gather in Detroit Thursday for a daylong conference. The MedHealth Summit, held at Ford Field’s Hall of Legends, will bring together experts and entrepreneurs from across Southeast Michigan and Southwest Ontario for a day of panel discussions, “investor … Continue reading “MedHealth Summit Brings Together Cross-Border Innovators and Experts”
PathAI Raises $60M in Quest to Be AI Assistant in the Exam Room
AI-for-disease-diagnosis startup PathAI closed a $60 million Series B round led by New York-based growth equity investor General Atlantic to improve its “pathology research platform” and fuel development into “new tools and medical devices.” PathAI partners with pharmaceutical companies and diagnostic laboratories to develop tools to aid doctors diagnose diseases in patients and help physicians … Continue reading “PathAI Raises $60M in Quest to Be AI Assistant in the Exam Room”
Turning Point Prices IPO, Raising $166M to Test Cancer Drugs
Turning Point Therapeutics raised more than $166 million in its IPO, pricing at the top of its range and putting nearly 2 million more shares into the public markets than it had initially planned. Strong demand ahead of the offering prompted the company, which is developing targeted cancer drugs for patients that have developed resistance … Continue reading “Turning Point Prices IPO, Raising $166M to Test Cancer Drugs”
Slingshot Adds $5M for Software That Monitors Disasters, Defense
Austin—Slingshot Aerospace has raised $5 million in additional seed funding led by its previous investor ATX Seed Partners, which gave the company $3.25 million in a seed round in December 2017. The Rise of the Rest Seed fund also participated in the add-on financing. Slingshot uses artificial intelligence and machine learning to process troughs of … Continue reading “Slingshot Adds $5M for Software That Monitors Disasters, Defense”
Cyber Madness Photos & Takeaways: Honeypots, Espionage Plots & More
There are many front lines in the battle to secure cyberspace for any given business: hackers, nation states, corporate espionage, supply chain security, AI-powered cyber tools, and ratcheting-up risks with the Internet of Things. All these facets—together with the tech companies carving a path through the dangers to take control in the ever-shifting state of … Continue reading “Cyber Madness Photos & Takeaways: Honeypots, Espionage Plots & More”
Qualcomm, Apple End Worldwide Legal Fights with Settlement Agreement
Wireless giant Qualcomm and smartphone maker Apple have been publicly feuding in courts around the globe, accusing one another of illegal business practices for more than two years. On Tuesday, the companies announced that the litigation between the two tech firms would be dismissed. San Diego-based Qualcomm (NASDAQ: [[ticker:QCOM]])—which, among other products, makes sophisticated components … Continue reading “Qualcomm, Apple End Worldwide Legal Fights with Settlement Agreement”
Seattle’s Outreach Joins Unicorn Ranks With $114M Funding Round
Another tech “unicorn”—privately controlled startups valued at $1 billion or more—has been minted following sales software company Outreach’s latest venture funding round, a $114 million deal. Seattle-based Outreach develops customer relationship management tools designed to improve communication between salespeople and their prospective clients. Launched in 2013, the startup says its most recent round of financing … Continue reading “Seattle’s Outreach Joins Unicorn Ranks With $114M Funding Round”
6sense Raises $27M to Uncover Hidden Interests of B2B Buyers
Let’s say you’re wondering whether another software provider could do a better job for your business than the one you already use. You start a web search on its competitors. Suddenly, you get a friendly message from your current software provider, asking how things are going. Was it a sixth sense? Nope, as you can … Continue reading “6sense Raises $27M to Uncover Hidden Interests of B2B Buyers”
Founders’ Co-op Raises $25M to Back More Pacific Northwest Startups
Founders’ Co-op, a Seattle-based venture capital firm that has backed nearly 100 startups since its launch 11 years ago, has raised a new, $25 million fund to continue making investments. According to a document filed with federal securities regulators, it’s the fourth fund Founders’ Co-op has raised, and the money came from 99 investors. In … Continue reading “Founders’ Co-op Raises $25M to Back More Pacific Northwest Startups”
Metamoto’s Jeff Blackburn on AV Testing and Why Waymo Leads the Pack
In the development of self-driving cars, once a vehicle is ready for the validation stage, it’s not always practical or affordable to test them on open roads. Given the hundreds of different scenarios developers want autonomous vehicles to experience and react to—weather, traffic conditions, pedestrian activity, land markings, and more—simulation offers an alternative to on-road … Continue reading “Metamoto’s Jeff Blackburn on AV Testing and Why Waymo Leads the Pack”
Flagship Pioneering Unveils Kintai’s Gut Approach to Treating Disease
The gastrointestinal system is often viewed as a barrier to drugs. Conditions ideal for breaking down food also break down drugs in ways that can limit how well they work. Interaction with the gut microbiome can also diminish a drug’s efficacy or boost its toxicity. Paul-Peter Tak, a former GlaxoSmithKline (NYSE: [[ticker:GSK]]) executive who is … Continue reading “Flagship Pioneering Unveils Kintai’s Gut Approach to Treating Disease”
Insitro Lands Three-Year Deal With Gilead to Find New NASH Drugs
Drug discovery startup Insitro burst onto the scene last year with ambitions of using machine learning techniques to find new therapies. Now the company has its first pharmaceutical partner. Gilead Sciences will work with Insitro to find medicines to treat a liver disease, nonalcoholic steatohepatitis (NASH), that is fast becoming a global epidemic fueled by … Continue reading “Insitro Lands Three-Year Deal With Gilead to Find New NASH Drugs”
Alzheimer’s, Gene Therapy & More: Agenda For “What’s Hot” on May 21
The gene therapy boom. The frustration of failure after failure in Alzheimer’s disease. The critical interplay between venture firms and “crossover” investors in a volatile, unpredictable macro-environment. The growing need for (and role of) diversity initiatives within the life sciences community—and the personal stories behind them. These are just some of the topics Xconomy will … Continue reading “Alzheimer’s, Gene Therapy & More: Agenda For “What’s Hot” on May 21”
EverlyWell, Austin Maker of At-Home Lab Tests, Nets $50 Million
Austin—EverlyWell, an Austin-based startup developing at-home health and wellness tests for patients, announced that it has raised $50 million in a Series B round of funding. The investment was led by existing investor Goodwater Capital and newcomer Highland Capital Partners, the startup said in a press release. Next Coast Ventures, NextGen Venture Partners, and other … Continue reading “EverlyWell, Austin Maker of At-Home Lab Tests, Nets $50 Million”
Show Me The Money: Seattle’s Showdigs Gets $3M for Real Estate Tools
Showdigs, a Seattle-based startup developing software to help prospective leasers schedule tours of apartments property managers have for rent, says it has raised $3 million in new funding to support its continued growth. A local investor, Bellevue, WA-based Trilogy Equity Partners, led the seed funding round, Showdigs says in a news release. Showdigs’ location-based tools … Continue reading “Show Me The Money: Seattle’s Showdigs Gets $3M for Real Estate Tools”
As Drug Resistance Grows, Amplyx Tests New Antifungal Drug
While fungal infections may seem like an annoyance rather than a serious health problem, sick people in hospitals and long-term care facilities are contracting potentially deadly infections that current treatments are failing to ameliorate, thanks to the evolution of many such germs. One such fungus, Candida auris, like some bacteria, has become increasingly resistant to … Continue reading “As Drug Resistance Grows, Amplyx Tests New Antifungal Drug”
SolarWinds, Moki, Nimbix, GoT, Rice Business Plan & More TX Tech
—SolarWinds, an Austin IT services company, has acquired Samanage, a maker of service desk software based in Cary, NC. The $350 million cash deal is expected to close by the end of June. SolarWinds said in a prepared statement that Samanage’s products will add to its suite of software made for more than 300,000 customers … Continue reading “SolarWinds, Moki, Nimbix, GoT, Rice Business Plan & More TX Tech”
Achaogen Eyes Sale in Bankruptcy Auction a Year After FDA Approval
Achaogen wants to sell itself through an auction as a part of a Chapter 11 bankruptcy reorganization, which the antibacterial-product maker announced it filed for this morning. Achaogen plans to continue its normal business operations through the Chapter 11 process and took out a $25 million loan from Silicon Valley Bank to do so. The … Continue reading “Achaogen Eyes Sale in Bankruptcy Auction a Year After FDA Approval”
Another Week, Another Gene Therapy Buyout: Catalent Pays $1.2B for Paragon
The gene therapy boom continued this morning with yet another acquisition. Contract drug manufacturer Catalent (NYSE: [[ticker:CTLT]]), of Somerset, NJ, has agreed to buy Paragon Bioservices for $1.2 billion, grabbing hold of a privately held developer of the viral “vectors” that gene therapy companies use to deliver their treatments. In a gene therapy procedure, these … Continue reading “Another Week, Another Gene Therapy Buyout: Catalent Pays $1.2B for Paragon”
Hatteras Launches New Fund With $94M for Life Science Investments
Hatteras Venture Partners is kicking off its latest fund with $94 million it plans to deploy to life sciences startups. The cash committed so far is the first closing of a fund that Hatteras says could reach up to $200 million. It’s the sixth fund for Durham, NC-based Hatteras. The venture capital firm invests throughout … Continue reading “Hatteras Launches New Fund With $94M for Life Science Investments”
How an Ohio Kids’ Hospital Quietly Became Ground Zero for Gene Therapy
[Updated, 4/22/19, see below] If a once-modest regional hospital and its new biotech allies have their way, the capital of Ohio could one day rival America’s other biomedical hubs. “Our goal is to make Columbus the center of the universe for gene therapy,” says Doug Ingram, CEO of Sarepta Therapeutics. Sarepta (NASDAQ: [[ticker:SRPT]]) is based … Continue reading “How an Ohio Kids’ Hospital Quietly Became Ground Zero for Gene Therapy”
Alnylam Makes Case For 2nd RNAi Drug at Big Liver Disease Meeting
The “attacks,” as they’re known, are debilitating and even possibly fatal. A patient with the ultra-rare genetic disease acute hepatic porphyria (AHP) is struck with excruciating abdominal pain and rushes to a doctor’s office or hospital for some type of pain relief—even a surgery—to feel better. And then another attack could come, and another, driving … Continue reading “Alnylam Makes Case For 2nd RNAi Drug at Big Liver Disease Meeting”
Beyond Oil: Bahrain, Houston Can Find Common Ground on Innovation
Houston—A delegation led by the Bahraini oil minister was in town recently meeting with business and government leaders. It makes sense considering Houston is the birthplace of the fracking technology the Gulf country’s leaders are seeking. A year ago, Bahrain discovered its largest trove of oil and gas—at least 80 million barrels of “tight oil”—since … Continue reading “Beyond Oil: Bahrain, Houston Can Find Common Ground on Innovation”
Lyft, Uber, and the Changing Disclosure Rules For Unicorn IPOs
When a much-watched tech company such as Lyft, Uber, or Pinterest files for an initial public stock offering, people eagerly scour the sudden trove of information that such a private business must finally disclose when it begins to offer shares to the general public, rather than only to sophisticated inside investors such as venture capital … Continue reading “Lyft, Uber, and the Changing Disclosure Rules For Unicorn IPOs”
Thwarting Opposition, Bristol Gets Shareholder OK for $74B Celgene Buyout
The early opposition has turned out to be just noise. Shareholders of Bristol-Myers Squibb today approved the pharma giant’s planned buyout of Celgene, paving the way for a deal that will create one of the largest biopharma organizations in the world, and send ripples throughout the sector. Bristol (NYSE: [[ticker:BMY]]) said Friday that more than … Continue reading “Thwarting Opposition, Bristol Gets Shareholder OK for $74B Celgene Buyout”
Toyota, Ford, GM, and SAE Form Automated Vehicle Safety Consortium
The SAE World Congress Experience, a three-day conference featuring discussions, networking, and exhibits of new technologies pertaining to the mobility industry, took place in Detroit this week and covered a ton of topics. SAE, originally known as the Society of Automotive Engineers, began in 1905 and was intended to be an umbrella organization for the … Continue reading “Toyota, Ford, GM, and SAE Form Automated Vehicle Safety Consortium”
Bio Roundup: EASL Does It, Alnylam’s BFF, Gene Therapy Deals & More
A major conference devoted to liver disease kicked off with updates from the race for approval of the world’s first drug to treat a form of advanced liver disease called nonalcoholic steatohepatitis, or NASH. The gene therapy field continued to attract venture cash and industry interest, and it was a busy week in Washington for … Continue reading “Bio Roundup: EASL Does It, Alnylam’s BFF, Gene Therapy Deals & More”
Boston Tech Watch: Tufin, Facebook, RightHand, Diameter & Jebbit
[Updated 4/15/19, 10:50 AM. See below.] A cybersecurity IPO could raise up to $124 million for an Israeli-based company with its US headquarters in Boston. Facebook’s Boston office wants to map the world’s population in high def, starting with Africa. More venture cash is flowing into Bay State startups. Read all this and much more … Continue reading “Boston Tech Watch: Tufin, Facebook, RightHand, Diameter & Jebbit”