We’ve heard a lot about autonomous cars over the past few years, but there are other applications for self-driving technology, including agriculture. Silicon Valley startup FarmWise this week announced a new partnership with Livonia, MI-based Roush, a legacy manufacturer and engineering services firm, to develop and test an autonomous machine that weeds row crops. FarmWise … Continue reading “FarmWise and Roush Partner to Develop Robots That Weed Farm Fields”
Category: National
Toast Rings Up $250M, Pledges $1B for Software and Hardware R&D
Restaurant technology startup Toast is stocking up its bank accounts with a new $250 million funding round the Boston company says is needed to keep pace with tech-hungry eateries’ interest in its point-of-sale software and devices. The funds come less than a year after Toast raised a $115 million Series D round and joined the … Continue reading “Toast Rings Up $250M, Pledges $1B for Software and Hardware R&D”
SpringWorks, Armed with Ex-Pfizer Cancer Drugs, Reloads with $125M
SpringWorks Therapeutics, a startup spun out of Pfizer to develop drugs gathering dust on the New York pharma giant’s shelves, has closed its second nine-figure financing round in less than two years. The $125 million Series B funding gives the New York City startup the backing to bring two cancer drugs into what could be … Continue reading “SpringWorks, Armed with Ex-Pfizer Cancer Drugs, Reloads with $125M”
Novartis Adds Inflammation Drugs to Pipeline with Deal for IFM Tre
Less than a year after launching and only days after advancing its lead program into clinical trials, drug developer IFM Tre is in line to be acquired by Novartis. According to an agreement announced Monday, Novartis (NYSE: [[ticker:NVS]]) will acquire all of the outstanding stock of privately held IFM. The Basel, Switzerland-based pharmaceutical giant will … Continue reading “Novartis Adds Inflammation Drugs to Pipeline with Deal for IFM Tre”
33 Tech Startups Make San Diego Venture Group “Cool Companies” List
What does it take for a tech startup to be considered “cool?” In the eyes of the San Diego Venture Group, the key element is readiness for venture capital backing. It’s through that lens that the nonprofit organization, whose mission is to connect local startups with venture capitalists who are looking to invest, annually vets … Continue reading “33 Tech Startups Make San Diego Venture Group “Cool Companies” List”
Impinj Unveils New Circuits Aimed at Expanding Firm’s IoT Platform
Even if you’ve never heard of Impinj, it’s likely you’ve come across examples of the Seattle-based company’s bread and butter—radio frequency identification technology—in real life. Radio frequency identification (RFID) tags are used, for example, by department stores to track inventory; by transportation agencies to power automated tolling systems; by mountain resorts to scan skiers’ lift … Continue reading “Impinj Unveils New Circuits Aimed at Expanding Firm’s IoT Platform”
Panel Nod Moves Bluebird’s Gene Therapy Closer to Europe’s Market
A one-time, long-lasting treatment for the genetic blood disease beta thalassemia looks to be the next gene therapy on its way to market—at least, for now, in Europe. The Committee for Medicinal Products for Human Use, which guides drug approval decisions in Europe, has recommended a “conditional” approval—on a thinner body of evidence than normal—of … Continue reading “Panel Nod Moves Bluebird’s Gene Therapy Closer to Europe’s Market”
Go Behind the Hacker Frontlines at Cyber Madness in Boston April 8
Criminal hackers might get most of the headlines, but there are plenty of “ethical” hackers helping companies and organizations spot and fix vulnerabilities in their cyber defenses. On April 8, you can go behind the scenes of the hacker frontlines at Xconomy’s “Cyber Madness: Case Studies in Security,” an afternoon conference in Boston focused on … Continue reading “Go Behind the Hacker Frontlines at Cyber Madness in Boston April 8”
Boston Tech Watch: Tinkergarten, ezCater, Glasswing Ventures & More
[Updated 10:45 am 3/29/19.] Tech to get your kids out into nature raises some big bucks from some Hollywood tech giants, while restaurant software and automated payments also make big moves. Read on for more Boston tech news: —Outdoor child-education network Tinkergarten raised $21 million from the consumer technology fund WndrCo run by former Disney (NYSE: … Continue reading “Boston Tech Watch: Tinkergarten, ezCater, Glasswing Ventures & More”
Bio Roundup: Amyloid Angst, NASH News, Brammer Bagged & More
A week after the failure of Biogen’s Alzheimer’s drug aducanumab, the ripple effects are still being felt—and not just by Biogen, which lost billions of dollars in market value in a flash. We’ll kick off this week’s roundup with the aducanumab reaction, which includes plenty of thoughts about the future of the so-called “amyloid hypothesis” … Continue reading “Bio Roundup: Amyloid Angst, NASH News, Brammer Bagged & More”
Kyriba to Get $160M in Majority Stake Sale to Private Equity Firm
Kyriba has been making cloud-based software since well before software-as-a-service (SaaS) became a tech buzzword. Nearly 20 years ago, the company, a spin-off of a French firm, began developing software to provide chief financial officers and other finance leaders with a comprehensive view of company cash and liquidity. Now Kyriba, which sells access to its … Continue reading “Kyriba to Get $160M in Majority Stake Sale to Private Equity Firm”
Lyft Raises $2.2B in IPO, Pegging Valuation at Over $24B
Investors eager to bet on the mobility industry’s future handed ride-hailing company Lyft $2.2 billion in new capital Thursday as the company completed an IPO that set its market capitalization at $24.3 billion, The New York Times reported. Lyft sold 30.8 million shares at $72 apiece, according to Renaissance Capital—the top of a new range … Continue reading “Lyft Raises $2.2B in IPO, Pegging Valuation at Over $24B”
Houston Tech Leaders Start Site to Connect Startups With Talent
Houston—One of the challenges in creating a robust tech hub in Houston is the perceived lack of talent available to join startups. “People say they don’t know where to start when it comes to seeing jobs in Houston, and businesses say, ‘I don’t know where to find talent,’” says Erik Ibarra, founder and CEO of … Continue reading “Houston Tech Leaders Start Site to Connect Startups With Talent”
Biolinq Adds $4.75M to Advance Glucose Monitoring Biosensor Patch
[Corrected 9:30 am PT. See below.] Biosensor startup Biolinq said Thursday it has raised $4.75 million from new investors, including the New York-based Juvenile Diabetes Research Foundation, following the results of a clinical study of its experimental biomarker monitoring device. Founders Jared Tagney and Joshua Windmiller, who met while in grad school at UC San … Continue reading “Biolinq Adds $4.75M to Advance Glucose Monitoring Biosensor Patch”
So You Want to Start a Cybersecurity Company?
Cybercrime has become a global epidemic. Attacks will cost the world $6 trillion by 2021, research firm Cybersecurity Ventures says-–the greatest transfer of economic wealth in history and more profitable than the trade in all major illegal drugs. As the threat keeps rising, the cybersecurity industry keeps growing. According to data released in January by … Continue reading “So You Want to Start a Cybersecurity Company?”
Precision Bio’s IPO Raises $126M for Pipeline of Gene-Edited Drugs
Precision BioSciences has joined the club of publicly traded gene editing biotech companies, raising $126 million in its stock market debut. On Wednesday evening, Durham, NC-based Precision Bio sold 7.9 million shares for $16 apiece, which was right in the middle of its targeted price range. Those shares are expected to begin trading on the … Continue reading “Precision Bio’s IPO Raises $126M for Pipeline of Gene-Edited Drugs”
Acadia to Move Experimental Pediatric Rett Syndrome Drug to Phase 3
Acadia Pharmaceuticals said it plans to advance a drug it licensed last year from Australia’s Neuren Pharmaceuticals into a late-stage trial following promising Phase 2 results of the potential Rett syndrome treatment. San Diego-based Acadia (NASDAQ: [[ticker:ACAD]]) announced in August that it had licensed the drug, trofinetide, for development and commercialization in North America as … Continue reading “Acadia to Move Experimental Pediatric Rett Syndrome Drug to Phase 3”
Xealth Gets $11M, Aims to Be Surescripts of Digital Health Services
Doctors prescribe all sorts of things for their patients, like drugs, medical procedures, and changes to diet and exercise regimen. Prescribing a software application—one that helps a patient manage diabetes, for example—may sound futuristic to some people. But to Mike McSherry, CEO of Xealth, a Seattle-based startup that announced $11 million in new funding Wednesday to … Continue reading “Xealth Gets $11M, Aims to Be Surescripts of Digital Health Services”
Garcia Steps Down After 18 Months as CEO of San Antonio’s Geekdom
San Antonio—David Garcia is stepping down as CEO of the Geekdom coworking space, according to the San Antonio Business Journal. “The collaboration and coworking environment at Geekdom creates opportunity to share professional experience in the roles that we hold as Geekdom team members,” Garcia said in a statement to the newspaper. “Geekdom also acts as … Continue reading “Garcia Steps Down After 18 Months as CEO of San Antonio’s Geekdom”
FTC Queries Internet Providers on Consumer Data Collection and Use
The Federal Trade Commission, which has been digging into the privacy practices of tech giants Facebook and Google, is now training its sights on the internet service providers that bring us all our online content. In its role as a consumer protection agency, the FTC ordered Verizon, AT&T, T-Mobile, Comcast, Google Fiber, and other ISPs … Continue reading “FTC Queries Internet Providers on Consumer Data Collection and Use”
The 2019 Xconomy Awards San Diego Finalists Are…
It was no easy task. After an extensive review of the many nominees for the first-ever Xconomy Awards San Diego, Xconomy editors across the country and a panel of local experts together narrowed the list to 42 finalists (listed below) across eight categories. In the coming weeks leading up to the awards gala in May, … Continue reading “The 2019 Xconomy Awards San Diego Finalists Are…”
Cloudsnap Adds $1.75M to Make Enterprise App Data Integration a Snap
Austin—Cloudsnap, a startup that makes software to connect and integrate data from its customers’ enterprise applications, has raised $1.75 million in seed financing led by Active Capital. Cloudsnap was founded in 2018 by Rick Barkley, a native Austinite (he moved here when he was 2 years old, so close enough) who ran e-learning startup Nuvola … Continue reading “Cloudsnap Adds $1.75M to Make Enterprise App Data Integration a Snap”
FunnelAI’s $1.5M Seed Funding May Lead to Global Growth, New Sectors
San Antonio—FunnelAI, a startup that aims to measure a consumer’s intent to purchase something, announced it has raised a $1.5 million seed funding round led by San Antonio investor Active Capital. FunnelAI plans to use the funds to make new hires and to add to the industry verticals in which its software is used. Currently, … Continue reading “FunnelAI’s $1.5M Seed Funding May Lead to Global Growth, New Sectors”
Roundup: QL Demo Day, Millendo Therapeutics, Strata Oncology, More
—Millendo Therapeutics, an Ann Arbor-based biopharmaceutical company developing treatments for rare diseases, has initiated a Phase 2b/3 clinical study investigating livoletide (AZP-531) in patients with Prader-Willi syndrome. The study will evaluate the safety and efficacy of the drug on food-related behaviors—primarily hyperphagia, the excessive hunger which is a hallmark of the disease—in Prader-Willi patients. The … Continue reading “Roundup: QL Demo Day, Millendo Therapeutics, Strata Oncology, More”
WI Watchlist: Dark Knight Fund, Morgridge “Flamingo” Grant & More
In the latest installment of the Wisconsin Watchlist, we’re tracking the fundraising plans of two new Milwaukee-area venture funds, and a pair of grants awarded to research and education projects in Madison. Read on for details. —State Representative Jason Fields, a Democrat from Milwaukee, aims to raise $10 million for a new venture capital fund … Continue reading “WI Watchlist: Dark Knight Fund, Morgridge “Flamingo” Grant & More”
MagniX & Harbour Air Want to Convert Seaplanes Into “ePlanes”
MagniX, a startup developing electric propulsion systems for small planes, has announced a partnership with a British Columbia airline to convert some of the seaplanes it operates into “ePlanes.” MagniX’s partnership with Richmond, BC-based Harbour Air is the first the propulsion technology startup has announced publicly, says CEO Roei Ganzarski. The deal’s financial terms were … Continue reading “MagniX & Harbour Air Want to Convert Seaplanes Into “ePlanes””
New Data Puts Aldeyra One Step Closer to FDA Filing for Eye Drug
Aldeyra Therapeutics has disclosed positive results from the first of multiple Phase 3 studies of a new type of inflammation-fighting medicine the Lexington, MA, company has been testing in a variety of conditions. The study Aldeyra (NASDAQ: [[ticker:ALDX]]) reports on this morning is a Phase 3 trial called “Alleviate,” which tested its drug reproxalap against … Continue reading “New Data Puts Aldeyra One Step Closer to FDA Filing for Eye Drug”
Business Travel Startup Lola Raises $37M to Double Headcount in Boston
[Corrected 3/26/19, 9:52 am. See below.] Business travel software startup Lola is keeping its foot on the gas. The Boston-based company is doubling its headcount—another 60 employees by the end of the year, mostly in sales and engineering—to keep up in the race to dominate the $1.6 trillion global travel market. Lola, started in 2016 … Continue reading “Business Travel Startup Lola Raises $37M to Double Headcount in Boston”
Startup Diversity Pledge Takes National Aim After Start in Austin
Austin—There’s a diversity initiative in Austin that’s gaining interest: The Startup Diversity and Inclusion Pledge has now been signed by some 50 entrepreneurs and investors in the city. The pledge asks any company or individual who signs it to commit to standards such as hiring (and interviewing) a diverse workforce, pay equality, and training about … Continue reading “Startup Diversity Pledge Takes National Aim After Start in Austin”
Amid Acquisition Drama, Celgene Resubmits MS Drug for FDA Approval
Celgene said Monday it has again sent the FDA an application for approval of ozanimod, an experimental multiple sclerosis drug it added to its pipeline in 2015 as part of its $7.2 billion acquisition of San Diego’s Receptos. Just over a year ago, the FDA refused to review Celgene’s application for ozanimod, citing a lack … Continue reading “Amid Acquisition Drama, Celgene Resubmits MS Drug for FDA Approval”
Austin’s Cerity Joins Growing Cohort of Insurance Tech Startups
Austin—Even the most staid of industries can use a boost from technology. Case in point: Cerity, an Austin, TX-based insurance tech startup founded last year says it’s developing software that uses artificial intelligence to match worker’s compensation policies to small businesses that otherwise wouldn’t get them. “It’s hard to get, complex to understand, and cost … Continue reading “Austin’s Cerity Joins Growing Cohort of Insurance Tech Startups”
Sanford Burnham Prebys, WARF Partner on Drug Discovery
A program launched last year by the Wisconsin Alumni Research Foundation to invest in promising biotech discoveries made on the University of Wisconsin-Madison campus will also work with the La Jolla, CA-based Sanford Burnham Prebys Medical Discovery Institute, the organizations said recently. The partnership is part of a broader movement to accelerate the “bench to … Continue reading “Sanford Burnham Prebys, WARF Partner on Drug Discovery”
Analysts: Proteostasis Data Are No Boost vs. Vertex in Cystic Fibrosis
As with cancer and HIV infection, progress in treatment for the genetic disorder cystic fibrosis has come with ever-more sophisticated cocktails of drugs. Proteostasis Therapeutics (NASDAQ: [[ticker:PTI]]) is one of the firms trying to catch up to cystic fibrosis leader Vertex Pharmaceuticals (NASDAQ: [[ticker:VRTX]]), but data it reported this morning did not satisfy investors, who … Continue reading “Analysts: Proteostasis Data Are No Boost vs. Vertex in Cystic Fibrosis”
Qualcomm Backs Industrial IoT Security Firm CyberX in $18M Round
CyberX, an industrial “Internet-of-things” security startup, has raised $18 million in a funding round led by the venture arm of chip-maker Qualcomm (NASDAQ: [[ticker:QCOM]]) and Inven Capital, a cleantech and new energy fund based in Prague, the Czech Republic. Waltham, MA-based CyberX says it has seen rapid sales growth, which it attributes to boards of … Continue reading “Qualcomm Backs Industrial IoT Security Firm CyberX in $18M Round”
Tespo, With a New Office in Detroit, Offers “the Keurig of Vitamins”
Ted Mills spent the first part of his career in finance, eventually starting a investment fund for Manoj Bhargava, the Michigan-based founder of 5 Hour Energy, in 2008. After five years in that role, Mills says it was time to spread his wings. He wanted to bring high-quality supplements to customers’ homes in liquid format, … Continue reading “Tespo, With a New Office in Detroit, Offers “the Keurig of Vitamins””
Thermo Bags Brammer For $1.7B as Gene Therapy Deal Spree Continues
Thermo Fisher Scientific late Sunday evening agreed to buy Brammer Bio for $1.7 billion, yet another bet by a large biopharmaceutical organization on the future of gene therapy. Thermo (NYSE: [[ticker:TMO]]), a Waltham, MA, developer of lab equipment, made an all-cash offer for Cambridge, MA-based Brammer, a contract manufacturer of gene therapy delivery tools known … Continue reading “Thermo Bags Brammer For $1.7B as Gene Therapy Deal Spree Continues”
Q&A: Brains Behind Vicis’s Youth Helmet Talks Ratings, Safety & More
Football leagues at every level, from those made up of youth teams to the U.S.’s hugely popular National Football League, are taking steps aimed at making the sport safer for players. These efforts include rule changes outlawing certain types of contact, such as dangerous hits, and programs that instruct players and coaches on proper tackling … Continue reading “Q&A: Brains Behind Vicis’s Youth Helmet Talks Ratings, Safety & More”
Bolt Founder Ben Einstein Leaves Hardware Tech VC Firm
Ben Einstein, co-founder and general partner of hardware-focused investor Bolt, says he has left the venture capital firm he started as his partner, Grace, enters chemotherapy for a cancer diagnosis. “Through this gut-wrenching experience, the things I enjoy doing and that give me energy are clearer than ever: I am a builder,” Einstein wrote in … Continue reading “Bolt Founder Ben Einstein Leaves Hardware Tech VC Firm”
Turning Point Therapeutics Plans IPO to Advance Targeted Cancer Drugs
Turning Point Therapeutics, which is developing targeted cancer drugs for patients whose tumors resist other precision therapies, has outlined plans for an IPO. The company, which started operations in 2014, has raised nearly $148 million since inception. It is headed by Athena Countouriotis, who joined the company in May as its chief medical officer, then … Continue reading “Turning Point Therapeutics Plans IPO to Advance Targeted Cancer Drugs”
AgileCraft’s Exit, $45M for Ojo Labs, Intel Grants & More TX Tech
Let’s catch up with the latest innovation news in Texas. —Georgetown, TX-based AgileCraft was acquired by Australia-based Atlassian (NASDAQ: [[ticker:TEAM]]), the team collaboration and productivity software maker, for $166 million. AgileCraft makes planning software that helps executives build and manage how the company’s projects develop. It’s focused more on leaders in a business than engineering … Continue reading “AgileCraft’s Exit, $45M for Ojo Labs, Intel Grants & More TX Tech”
Boston Tech Watch: Notarize, Optimus Ride, LogRocket & More
The self-driving cars are coming (to a gated development near you). Board additions at a novel tech startup. Another big funding round for an industrial 3D printing startup. The Endeavor v. QinetiQ robot competition’s final chapter. Read on for more. —Online notary startup Notarize is adding senior LogMeIn and State Street executives to its board. … Continue reading “Boston Tech Watch: Notarize, Optimus Ride, LogRocket & More”
Bio Roundup: Sage Postpartum Help, Biogen Bids Adu, Heart Beats & More
One group of people in dire need of medical relief got good news this week. The first drug for postpartum depression was approved. With its complicated logistics, side effects, and potential high cost, it won’t be for everyone who experiences the condition—1 of every 9 U.S. women giving birth. But at least it’s an option. … Continue reading “Bio Roundup: Sage Postpartum Help, Biogen Bids Adu, Heart Beats & More”
Upcoming SAE Conference in Detroit to Offer Rides in Autonomous Cars
You’ve heard the self-driving car hype; next month, you can experience a robotic ride firsthand. Metro Detroiters will have the opportunity to take a spin in an autonomous vehicle as part of SAE Demo Days, being held April 5-7 at Detroit’s Cobo Center. The public demonstration, held in conjunction with SAE International’s WCX conference, is … Continue reading “Upcoming SAE Conference in Detroit to Offer Rides in Autonomous Cars”
Adieu to Adu: Biogen’s Big Alzheimer’s Bet Flops, Shares Routed
Another once-promising drug for Alzheimer’s disease has failed. And the news is devastating for the drug’s developer, Biogen (NASDAQ: [[ticker:BIIB]]), which went all in on a high-stakes gamble that its treatment, aducanumab, might succeed where so many others haven’t. This morning, Biogen reported that it is stopping two parallel, highly anticipated Phase 3 studies in … Continue reading “Adieu to Adu: Biogen’s Big Alzheimer’s Bet Flops, Shares Routed”
CRISPR Diagnostic Race Heats Up as Sherlock Bio Launches With $35M
The high-stakes race to use CRISPR gene editing technology to create medicines has been underway for years now, and human trials are just starting. But the idea of using CRISPR as a tool to detect and diagnose a disease has been gaining traction, too, and the launch of a new startup today called Sherlock Biosciences … Continue reading “CRISPR Diagnostic Race Heats Up as Sherlock Bio Launches With $35M”
Gamers for Giving Provides Sick Children with Digital Playgrounds
In 2007, Zach Wigal and his friends at Saline High School decided to organize one of Southeast Michigan’s first competitive video game tournaments. They spent months preparing and eventually arranged to rent out the school’s cafeteria. Everything seemed to be in place, and with more than 300 people registered to attend, excitement ran high. Then, … Continue reading “Gamers for Giving Provides Sick Children with Digital Playgrounds”
Corza Health Emerges Led by Former NuVasive, GreatCall Executives
A Chicago-based private equity firm has tapped the former head of NuVasive and finance chief of GreatCall to start a new healthcare company in San Diego. The company, Corza Health, is headed by Greg Lucier, most recently CEO at NuVasive, and backed by the PE firm, GTCR, with money from its $5.25 billion Fund XII. … Continue reading “Corza Health Emerges Led by Former NuVasive, GreatCall Executives”
New Funding for Workplace Software Firms Skedulo and Scope AR
Two young San Francisco companies on Wednesday announced fundraisings to bolster their online services aimed at improving workforce efficiency. —Skedulo, which helps managers schedule assignments for field service personnel, says it raised $28 million in a Series B funding round led by M12, Microsoft’s corporate venture arm. Joining in the round were previous investors Blackbird, … Continue reading “New Funding for Workplace Software Firms Skedulo and Scope AR”
As Exact Sciences’ Sales Surge, CEO Reflects on 10-Year Turnaround
A decade ago, Kevin Conroy took the CEO job at Exact Sciences, a cancer diagnostic firm on the brink of death. Five years later, the FDA greenlit the company’s first product, Cologuard, which marked the first non-invasive, stool-based DNA screening test approved for detecting colorectal cancer. In the five years since then, Exact (NASDAQ: [[ticker:EXAS]]) … Continue reading “As Exact Sciences’ Sales Surge, CEO Reflects on 10-Year Turnaround”
Pfizer Bolsters Gene Therapy Position with $51M Vivet Deal
Pfizer this morning added to its methodical push into the gene therapy field, paying $51 million for a 15 percent stake in Vivet Therapeutics and the option to buy the Parisian biotech in the future. Vivet is developing an experimental gene therapy, VTX-801, for the rare genetic disorder Wilson’s disease, which causes a potentially deadly … Continue reading “Pfizer Bolsters Gene Therapy Position with $51M Vivet Deal”