Locally based biotech companies receive fresh funding from investors. A software startup launches games that it says may help children with disorders that cause attention difficulties. Get the details on these developments and more in San Diego life sciences news: —Evofem Biosciences (NASDAQ: [[ticker:EVFM]]) struck a deal to raise up to $80 million in a … Continue reading “San Diego Life Sciences Roundup: Evofem, Cullgen, BrainLeap & More”
Category: National
WI Watchlist: DotCom Therapy, Nordic, UWM, Epic
It’s time to catch up on recent happenings in Wisconsin’s innovation community: —Madison-based telemedicine startup DotCom Therapy named Sanaz Cordes as its chief executive and said it raised an undisclosed amount of funding from HealthX Ventures, a local venture firm that backs healthtech companies. Cordes is a physician and former chief operations officer of another … Continue reading “WI Watchlist: DotCom Therapy, Nordic, UWM, Epic”
Intercept Touts a Smaller Piece of Its NASH Trial at Liver Conference
Intercept Pharmaceuticals (NASDAQ: [[ticker:ICPT]]) said today it was on track to ask US and European regulators this year to approve what could be the first drug for an advanced liver disease that poor diet and exercise habits have turned into a quiet epidemic. The disease is called nonalcoholic steatohepatitis, or NASH, and as the name … Continue reading “Intercept Touts a Smaller Piece of Its NASH Trial at Liver Conference”
EvoNexus Gets Bank, Investment Firm Backing for Fintech Incubator
Financial firms are facing competition from legacy players and disruptive fintech startups as technology continues to reshape the heavily regulated industry. Two financial firms are betting on a nonprofit incubator program in San Diego in hopes of identifying top talent and potential targets for investment or acquisition. The incubator, EvoNexus, said this week that Royal … Continue reading “EvoNexus Gets Bank, Investment Firm Backing for Fintech Incubator”
Xconomy Awards San Diego Diversity Finalists Are Scaling Up Empowerment
In an awards program, it can seem like a competition, but in the Commitment to Diversity category, many of the finalists are in fact collaborating with each other or share common roots. For example, finalist Silvia Mah is also a co-founder of one of the other finalists in the category, Ad Astra Ventures. And Ad … Continue reading “Xconomy Awards San Diego Diversity Finalists Are Scaling Up Empowerment”
AskBio Reels In $235M to Advance Gene Therapy Clinical Trials
Asklepios BioPharmaceutical (AskBio) has raised $235 million in financing to support its research and development of gene therapies for rare, genetic disorders. The funding came from TPG Capital and Vida Ventures, which together invested $225 million and gained a minority stake in the Research Triangle Park, NC, company. Concurrent with that investment, AskBio’s founders and … Continue reading “AskBio Reels In $235M to Advance Gene Therapy Clinical Trials”
Affectiva Raises $26M to Get Self-Driving Cars to Know Your Mood
The vision of a hands-off, self-driving car demands much more than accurate computer vision that senses cars, trees, lanes, pedestrians, bicyclists, roads, potholes—all in sun, rain, and snow. But the automotive industry that always seems to be barreling toward smarter autonomous vehicles also wants the car to know exactly what’s going on in the cabin. … Continue reading “Affectiva Raises $26M to Get Self-Driving Cars to Know Your Mood”
Active Capital Leads $1.8M Round for Back Office’s AI Bookkeeping
San Antonio—Active Capital is leading a $1.8 million seed funding round for West Palm Beach, FL-based automated bookkeeping software maker Back Office. 500 FinTech, PlugNPlay Ventures, and angel investors also participated, according to Active. Back Office says it uses artificial intelligence-driven software to automate revenue and expense reporting (among other accounting measures) for businesses. It … Continue reading “Active Capital Leads $1.8M Round for Back Office’s AI Bookkeeping”
Roundup: MiSpringboard, Free QL Demo Day Help, DetroitEd411 & More
Let’s catch up on the latest startup and innovation news from around Michigan: —Birmingham-based Pairaphrase, a startup selling translation software that it says provides users more security and privacy than competing products, such as Google Translate, has won a grant from the state of Michigan. The company did not disclose the amount of the grant … Continue reading “Roundup: MiSpringboard, Free QL Demo Day Help, DetroitEd411 & More”
Senators Grill Pharmacy Benefit Execs About Skyrocketing Drug Prices
Executives from five of the companies that negotiate drug prices on behalf of insurers testified Tuesday before the Senate finance committee. It was the latest in a series of hearings centered on the rising cost of prescription medication, which has captured attention on both sides of the political aisle and is likely to become a … Continue reading “Senators Grill Pharmacy Benefit Execs About Skyrocketing Drug Prices”
Apana Gulps Down $11M to Help Costco, Other Clients Track Water Use
Apana, which develops systems of sensor-equipped devices and complementary software to help facilities monitor their water use, announced Tuesday it has raised $11 million to fuel its continued growth. Grocery stores, hotels, and restaurants are among those who use Apana’s products and services, which the Bellingham, WA-based company says can help these organizations save money … Continue reading “Apana Gulps Down $11M to Help Costco, Other Clients Track Water Use”
Sobriety Pays: DynamiCare Gamifies Staying Clean for Recovering Addicts
[Corrected 5/22/19, 4:27 pm ET. See below.] Eric Gastfriend was looking for his next tech startup idea after leaving his video game startup Happy Cloud and finishing an MBA at Harvard Business School when the inspiration came from a source close to home. A relative was entering rehab for alcohol abuse for the second time, … Continue reading “Sobriety Pays: DynamiCare Gamifies Staying Clean for Recovering Addicts”
Austin VC Firm LiveOak Venture Partners Closes Second, $105M Fund
[Updated 4/9/19, 9:45 am ET. See below.] Austin—LiveOak Venture Partners announced today it has closed a $105 million fund, its second. The firm’s “Fund II” has already made six investments, including Austin startups Eventador, Osano, and Rollick, and Dallas-based AmplifAI, LiveOak said in a press release. [Information about one investor.] Among those limited partners includes the … Continue reading “Austin VC Firm LiveOak Venture Partners Closes Second, $105M Fund”
VC Trends in 2019: More Money, Fewer Deals But Women Still Get Less
[Updated 11:23 a.m. See below.] If you’ve been following venture capital trends, what you expected to happen in the first quarter of 2019 did: More money is being invested in fewer deals, and women founders still are getting less of it than men. Venture firms sent $32.6 billion into startups nationally during the first three … Continue reading “VC Trends in 2019: More Money, Fewer Deals But Women Still Get Less”
FDA Refuses to Review Zogenix Seizure Drug, Says File Not Complete
[Updated 9:11 p.m. ET. See below.] The FDA is refusing to review a Zogenix drug developed to treat seizures caused by a rare form of epilepsy. Zogenix said Monday that the FDA sent the company a “refusal to file” letter regarding its drug, fenfluramine hydrochloride (Fintepla). Such letters don’t amount to a rejection of a … Continue reading “FDA Refuses to Review Zogenix Seizure Drug, Says File Not Complete”
RiskLens Raises $20M for Software That Quantifies Cyber Risk
RiskLens, a developer of software for assessing, communicating, and managing cyber risk, announced Monday it has raised more than $20 million from investors. Spokane, WA-based RiskLens says it plans to use some of the proceeds from the Series B funding round to expand its sales, marketing, engineering, and professional services teams. They’ll work to try … Continue reading “RiskLens Raises $20M for Software That Quantifies Cyber Risk”
CD&R Buys Majority Stake in San Antonio’s Sirius Computer Solutions
San Antonio—New York investment firm Clayton, Dubilier & Rice (CD&R) has acquired a majority stake in Sirius Computer Solutions, which provides a variety of security, cloud, and various other IT services to customers, typically offering products from companies it partners with, such as IBM or Cisco. Terms of the acquisition price weren’t disclosed. Sirius has … Continue reading “CD&R Buys Majority Stake in San Antonio’s Sirius Computer Solutions”
Trevi Therapeutics Files for IPO to Fund Anti-Itching Drug R&D
Trevi Therapeutics is trying to turn an old opioid drug into a new therapy for tough-to-treat itching conditions, and it has filed for an initial public offering to finance clinical trials. In paperwork submitted to the SEC late Friday, Trevi set a preliminary $86 million target for its IPO. The New Haven, CT-based company has … Continue reading “Trevi Therapeutics Files for IPO to Fund Anti-Itching Drug R&D”
Klaviyo Puts Google, Facebook, Amazon on Notice With $150M Raise
Klaviyo, a Boston e-commerce startup, wants retailers to take their advertising spending back from the tech behemoths Google, Amazon, and Facebook. The thinking behind the push, according to CEO Andrew Bialecki, is whether in the long term companies are better off handing over their ad dollars or doing the work and “owning” the marketing themselves. … Continue reading “Klaviyo Puts Google, Facebook, Amazon on Notice With $150M Raise”
Four Things Every Smart Startup Should Do as It Scales
Your startup began as “four smart people with laptops and a vision.” Fast-forward a few years and it’s a bona fide business with investors, employees, and a snappy logo. Stay on this path, and signs are good that you’ll continue to grow. It’s easy and convenient to keep doing what you’ve been doing as you … Continue reading “Four Things Every Smart Startup Should Do as It Scales”
Global Detroit, U-M Team on Program to Boost Immigrant-Led Startups
The American Dream was once a fairly simple concept: The nation would welcome strivers from across the world and invite them to pull themselves up by their bootstraps, work hard, pay taxes, and become contributing citizens. However, immigration has become a highly charged political issue in the current era, making things more complicated. That’s one … Continue reading “Global Detroit, U-M Team on Program to Boost Immigrant-Led Startups”
Alnylam Gets $800M From Regeneron to Bring RNAi to Eye, Brain Diseases
Alnylam and Regeneron Pharmaceuticals are announcing a wide-ranging alliance this morning to co-develop treatments for eye and neurological diseases using RNA interference, a method of drugmaking that has recently come of age after years of ups and downs. Regeneron (NASDAQ: [[ticker:REGN]]), of Tarrytown, NY, will pay Alnylam (NASDAQ: [[ticker:ALNY]]) $400 million in cash up front … Continue reading “Alnylam Gets $800M From Regeneron to Bring RNAi to Eye, Brain Diseases”
San Diego Tech Roundup: Bitmo, Dvele, Cybersecurity Report & More
—Mobile app startup Bitmo announced it had raised more than $3 million in seed funding from investors including Everplus Capital, Longboard Capital Advisors, and several Southern California-based family fund offices. Bitmo’s mobile app allows users to send and receive digital gift cards that can be switched between a number of stores. The company says it … Continue reading “San Diego Tech Roundup: Bitmo, Dvele, Cybersecurity Report & More”
Celgene Files for FDA Approval of Blood Disease Drug
An experimental blood disease drug cited as one of Celgene’s key pipeline assets has been filed for FDA approval. Summit, NJ-based Celgene (NASDAQ: [[ticker:CELG]]) said Friday that it submitted the application for luspatercept as a treatment for patients who have anemia, or low red blood cell counts, caused by either of two blood diseases: myelodysplastic … Continue reading “Celgene Files for FDA Approval of Blood Disease Drug”
TX Tech: Made In, Jog.ai, Vital Farms, BBL & Advice from Mark Cuban
Let’s catch up with the latest innovation news in Texas. —Newchip, an Austin online market of crowdfunded deals, has accepted 45 startups into its remote accelerator program, according to a press release. The startups, sorted by Newchip into seed, pre-seed, and MVP/beta stages, will go through the company’s 10-week program. Unlike many accelerators, Newchip doesn’t … Continue reading “TX Tech: Made In, Jog.ai, Vital Farms, BBL & Advice from Mark Cuban”
Boston Tech Watch: Huawei, Care.com, Cambridge Blockchain & PayPal
Investors took restaurant technology startups out to lunch with monster nine-figure funding rounds. The Wall Street Journal investigation into Care.com leads investors to sue in Boston. MIT kicks Huawei and ZTE to the curb. Read these and more in this week’s Boston tech news: —MIT cut ties with Chinese technology giant Huawei and ZTE “due … Continue reading “Boston Tech Watch: Huawei, Care.com, Cambridge Blockchain & PayPal”
Bio Roundup: Gottlieb’s Goodbye, AACR Recap, Migraine Drug Fight & More
Scott Gottlieb’s last day as FDA commissioner is today. His resignation announcement last month surprised some, given the earlier denials about leaving. But after two years of commuting between Connecticut, where his family remained, and the FDA’s Maryland headquarters, he decided to step down from the agency. What will Gottlieb’s legacy be? His efforts to … Continue reading “Bio Roundup: Gottlieb’s Goodbye, AACR Recap, Migraine Drug Fight & More”
Skills, Pills, & Hospital Bills: Amazon Debuts Alexa Health Features
Owners of Amazon’s voice-controlled, Internet-connected speakers can now use the gadgets to manage more aspects of their healthcare, following the company’s announcement Thursday that its Alexa devices can interface with software applications that process protected health information. As part of the announcement, Amazon (NASDAQ: [[ticker:AMZN]]) unveiled six “Alexa healthcare skills,” which allow patients to book … Continue reading “Skills, Pills, & Hospital Bills: Amazon Debuts Alexa Health Features”
UT Health San Antonio Plans New Accelerator for Faculty Research
San Antonio –— The University of Texas Health Science Center at San Antonio is starting an internal accelerator program for inventors who work at the institution, with the goal of picking a first group of five to eight prospective entrepreneurs around May. The accelerator, which UT Health is calling TechNovum, will run its first program … Continue reading “UT Health San Antonio Plans New Accelerator for Faculty Research”
C-Motive Powers Up With $2M to Launch Reimagined Electric Motor
C-Motive Technologies, a small startup in Madison, WI, wants to overhaul the electric motors that power electric vehicles, assembly-line robots, aircraft propellers, and other machines. Now, investors are betting on the company’s vision. This week, C-Motive announced it closed a $2 million investment led by Prime Impact Fund, a Boston-area fund that invests philanthropic dollars … Continue reading “C-Motive Powers Up With $2M to Launch Reimagined Electric Motor”
As AVs Rev Up, the Data Privacy Fight Could Shift to Your Car
There are plenty of unknowns regarding the future of self-driving cars, but one thing is certain: the mobility industry will be fueled by data. And that means automotive companies will have to address many of the same privacy issues that Facebook, Google, and other social media and Internet firms are grappling with now. By 2030, … Continue reading “As AVs Rev Up, the Data Privacy Fight Could Shift to Your Car”
Report: Biogen, Novartis Should Drop Prices of Billon-Dollar SMA Drugs
A new report from a U.S. drug-pricing watchdog takes issue with the high cost of the only approved treatment for spinal muscular atrophy (SMA), a rare genetic disease that affects young children and in some cases leads to a quick death. The report, from the Boston-based Institute for Clinical and Economic Review (ICER), is loaded … Continue reading “Report: Biogen, Novartis Should Drop Prices of Billon-Dollar SMA Drugs”
NGM Bio’s IPO Raises $107M as NASH Drug Continues Clinical Testing
So far this year, NGM Biopharmaceuticals has licensed a drug to Merck, extended a research agreement with that partner, and laid the groundwork to continue mid-stage testing of its wholly-owned lead compound. Now it can add a $107 million IPO to the list. Late Wednesday, NGM sold appoximately 6.7 million shares for $16 apiece, the … Continue reading “NGM Bio’s IPO Raises $107M as NASH Drug Continues Clinical Testing”
Reveal Biosciences Gets Intel’s Backing on “AI-Powered” Pathology
A 25-person startup developing advanced computing tools to speed up pathology work has raised its first institutional financing from a group of investors led by Intel Capital, the corporate investment arm of the chipmaker. The San Diego-based company, Reveal Biosciences, is among 14 early-stage companies with business plans that include artificial intelligence, a catchall term … Continue reading “Reveal Biosciences Gets Intel’s Backing on “AI-Powered” Pathology”
UW Prof, Entrepreneur Shwetak Patel Awarded ACM Prize in Computing
The Association for Computing Machinery on Wednesday said it has awarded Shwetak Patel, a computer science and electrical engineering professor at the University of Washington, the 2018 ACM Prize in Computing. Patel, who is also a successful serial entrepreneur, will receive a cash prize of $250,000 as part of the award, ACM said. The award … Continue reading “UW Prof, Entrepreneur Shwetak Patel Awarded ACM Prize in Computing”
Charles River Labs Says It Will Close San Diego Research Facility
Contract research organization Charles River Labs is shutting down its San Diego-area operations, moving the work done there to one of its two Northern California sites. In a filing with California’s Employment Development Department, Wilmington, MA-based Charles River (NYSE: [[ticker:CRL]]) said it would lay off 24 workers by May 20 in connection with the closure. … Continue reading “Charles River Labs Says It Will Close San Diego Research Facility”
Xconomy Awards San Diego CEO Finalists Show How To Build Value
To succeed as a CEO means having the fortitude to make the tough decisions that all companies face. Often, that means persevering in pursuit of a mission, whether that’s proving a new class of drugs can work, turning around a company that’s facing financial difficulties, battling much larger competitors, convincing investors to back cutting-edge technology, … Continue reading “Xconomy Awards San Diego CEO Finalists Show How To Build Value”
Procrastinators Special: Save on Tickets for Cyber Madness on Monday
As March Madness draws to a close, so does your chance to grab a ticket to Xconomy’s premier spring event in Boston, “Cyber Madness: Case Studies in Security.” On April 8, we’re gathering security-tech founders, executives, and investors, as well as IT leaders from sectors such as finance, legal, and healthcare for an afternoon of … Continue reading “Procrastinators Special: Save on Tickets for Cyber Madness on Monday”
AACR 2019 Roundup: Notes from a Weekend of Early Stage Cancer Results
[Editor’s note: Alex Lash co-authored this report] The American Association for Cancer Research’s annual meeting is wrapping up in Atlanta today. The conference typically focuses on early research and clinical work, not the big trials that can change the way doctors practice medicine and that compete for headline space at conferences like the American Society … Continue reading “AACR 2019 Roundup: Notes from a Weekend of Early Stage Cancer Results”
Dyne Therapeutics Emerges With $50M to Take On Rare Muscle Disease
One problem with drugs for muscular disorders is that not enough medicine reaches the muscle, says Romesh Subramanian, CEO of Dyne Therapeutics. Subramanian’s startup has developed a way to deliver drugs to all muscle types, and it is emerging from stealth with $50 million in funding to advance its compounds toward human testing. Dyne was … Continue reading “Dyne Therapeutics Emerges With $50M to Take On Rare Muscle Disease”
Lear to Acquire Seattle Connected Vehicle Tech Firm Xevo For $320M
Lear Corp., a Southfield, MI-based manufacturer of car seats, automotive electrical systems, and other products, announced Tuesday it has agreed to acquire Xevo, a Seattle-based developer of connected vehicle software, for $320 million. Lear (NYSE: [[ticker:LEA]]) has been in business for over a century, and says its products are used by nearly every major automaker. … Continue reading “Lear to Acquire Seattle Connected Vehicle Tech Firm Xevo For $320M”
Seattle Venture Capital Watch: Crelate, Cyemptive, Blue Canoe & More
Businesses developing software to assist recruiters, corporate IT departments, and people learning to speak English are among the Seattle-area companies that have in recent weeks raised new funding from investors. Let’s catch up on some of the Emerald City Deals action. —Crelate Talent, which is developing recruiting software used by staffing agencies, executive search firms, … Continue reading “Seattle Venture Capital Watch: Crelate, Cyemptive, Blue Canoe & More”
Executive Director of Alamo Angels Resigns to Focus on Seed Fund Job
San Antonio—Cat Dizon is stepping down from her role as executive director of Alamo Angels, the angel investing network in San Antonio founded in 2016. Alamo Angels, formerly known as the San Antonio Angel Network, is the city’s first angel network, and Dizon has been its second executive director. Chris Burney, a former Rackspace employee, … Continue reading “Executive Director of Alamo Angels Resigns to Focus on Seed Fund Job”
Formlabs Makes Inroads in “Hype-Driven” Sector With New 3D Printers
Formlabs founder and CEO Max Lobovsky still sees a fair amount of hype swirling around the 3D printing world. He claims to have never been onboard with the Jetsons-like vision of a 3D printer as a household appliance that spits out toys, kitchen utensils, furniture—anything that can be imagined, really. “We started with the thinking … Continue reading “Formlabs Makes Inroads in “Hype-Driven” Sector With New 3D Printers”
“FacePalm” Bug Is a Jarring Wake-Up Call. And Not Just for Apple
Apple is a global icon. It was the first company in the world to reach a $1 trillion market capitalization, and it is the most valuable company in the world today. For the second year in a row, Apple ranked as the world’s most-admired company, in a Fortune survey of 3,750 business executives. PC magazine … Continue reading ““FacePalm” Bug Is a Jarring Wake-Up Call. And Not Just for Apple”
Xconomy Is Hiring a Digital Product Manager—Apply Here
If you (or someone you know) is an expert web developer/designer and product manager with a passion for journalism, then we want you! We’re looking for someone to join our Boston office and take charge of the Xconomy.com website: help us maintain the site, figure out what needs improving, and then work with a global … Continue reading “Xconomy Is Hiring a Digital Product Manager—Apply Here”
EzCater Celebrates “Unicorn” Status After $150M Funding Round
Stefania Mallett was sitting at her kitchen table when she wrapped up the details behind her catering technology startup ezCater’s latest funding round, a $150 million investment. Mallett shared the details to her husband before the size of the occasion sank in. “I’m busy, already onto the next thing. He said, ‘Wait, that is a … Continue reading “EzCater Celebrates “Unicorn” Status After $150M Funding Round”
Chevron Tech, Medical Informatics, ActivTrak, Linear & More TX Tech
Let’s catch up with the latest innovation news in Texas. —Chevron Technology Ventures Thursday launched a $90 million fund for energy investments. The fund is CTV’s seventh and investments will be made in high-growth startups with technologies that have the potential to improve Chevron’s core oil and gas business performance, says CTV President Barbara Burger. … Continue reading “Chevron Tech, Medical Informatics, ActivTrak, Linear & More TX Tech”
After Scoring New Capital, Fifth Eye Prepares to Seek FDA Approval
Fifth Eye, an Ann Arbor-based medical software startup spun out of technology developed at the University of Michigan, today announced that it has raised $9 million in new investment capital, bringing its total venture backing to date to $11.5 million. The round was led by Arboretum Ventures and Cultivation Capital, with participation from Invest Michigan, … Continue reading “After Scoring New Capital, Fifth Eye Prepares to Seek FDA Approval”
Thoma Bravo Acquires San Antonio’s Mailgun as Scaleworks Takes Exit
San Antonio—Thoma Bravo has acquired a majority stake in Mailgun Technologies, a spinout of Rackspace that offers software to help developers manage automated e-mail systems for their employers. Mailgun separated from cloud computing service provider Rackspace in 2017, securing a $50 million financing round led by Turn/River Capital, Rackspace, and San Antonio investment fund Scaleworks … Continue reading “Thoma Bravo Acquires San Antonio’s Mailgun as Scaleworks Takes Exit”