The social-media jobs platform Jobcase is raking in $100 million in growth funding to expand its blue-collar-oriented workforce site into a place where employees not only can host their qualifications but also can organize and advocate for better treatment from employers. Jobcase founder and CEO Fred Goff says the Cambridge, MA-based startup wants workers’ reviews … Continue reading “Blue-Collar Career Site Jobcase Raises $100M to Advocate for Workers”
Category: National
Amazon, Google, Facebook Boosted 2018 Tech Hiring Spree in U.S. Hubs
A tech hiring slowdown in 2018 in America’s three largest innovation hubs would not have surprised John Barrett, given global economic uncertainty stemming from factors such as trade disputes, slower economic growth in China and Europe, and the UK’s looming exit from the EU. Instead, the pace of tech hiring in the San Francisco Bay … Continue reading “Amazon, Google, Facebook Boosted 2018 Tech Hiring Spree in U.S. Hubs”
Blackstone, Novartis Start Up Anthos With $250M and a Heart Drug
Blackstone Life Sciences, the biopharma investing arm of private equity firm Blackstone Group, has made its first strike. It has joined with Novartis (NYSE: [[ticker:NVS]]) to start a new biotech, Anthos Therapeutics, backed with $250 million in cash and rights to an experimental drug originally discovered by the Swiss firm. The Cambridge, MA, startup, Anthos … Continue reading “Blackstone, Novartis Start Up Anthos With $250M and a Heart Drug”
Pharma CEOs to Senate: We Will Lower Drug Prices if Rebates Go Away
Seven top pharmaceutical executives gathered today in Washington, DC, for a Senate hearing on drug prices, bringing face-to-face two groups held in the lowest esteem possible by the American public. Top executives from seven companies—AbbVie, AstraZeneca, Bristol-Myers Squibb, Merck, Johnson & Johnson, Pfizer, and Sanofi, which represent a combined $1.1 trillion in market value—stuck to … Continue reading “Pharma CEOs to Senate: We Will Lower Drug Prices if Rebates Go Away”
Rapamycin Holdings Changes Name to Emtora Biosciences, Hires New CEO
San Antonio — Rapamycin Holdings, a life sciences business working to commercialize a new formulation of an immunosuppressant as a prostate cancer drug, has changed its name to Emtora Biosciences and hired a new CEO. Carole Spangler Vaughn is taking over at Emtora for Dan Hargrove, who has spent about 18 months in the chief executive … Continue reading “Rapamycin Holdings Changes Name to Emtora Biosciences, Hires New CEO”
No Details, But AstraZeneca Touts PARP Drug Win in Pancreatic Cancer
It’s no secret that so-called PARP inhibitors, a new class of cancer drugs, have struggled to gain traction commercially, even as they’ve shown promise treating multiple tumor types. But today brings news that could bolster the future prospect of PARP blockers: one of them, a drug known as olaparib (Lynparza) from AstraZeneca and partner Merck, … Continue reading “No Details, But AstraZeneca Touts PARP Drug Win in Pancreatic Cancer”
Seeded with $2.5M, Sales Tech Firm Polis Is Coming for Your Front Door
There’s at least one thread tying together clean energy providers, former U.S. Rep. Beto O’Rourke, and home security systems, and it runs through a small Cambridge, MA, startup founded in 2015 by Kendall Tucker. Her sales and political canvassing technology company Polis has helped sell all three of them by sending people to residents’ front … Continue reading “Seeded with $2.5M, Sales Tech Firm Polis Is Coming for Your Front Door”
Oyster Point Gets $93M To Clear Up Dry Eye With a Nasal Spray
Dry eye disease affects millions of people in the U.S., and while several treatments, mostly eye drops, are available, they all have flaws. An emerging startup called Oyster Point Pharmaceuticals is trying a completely different approach—a nasal spray that coaxes the body into making tears. And the company just got enough cash to get that … Continue reading “Oyster Point Gets $93M To Clear Up Dry Eye With a Nasal Spray”
Port San Antonio Considers Innovation Center on Former Air Force Base
San Antonio—As one business development group begins work on a new “innovation center” for life science and tech startups near downtown San Antonio, TX, another Alamo City organization has said it may develop a second innovation and education center in the southwest part of town. Port San Antonio, which was established as a public entity … Continue reading “Port San Antonio Considers Innovation Center on Former Air Force Base”
Ginkgo’s Motif Launches with $90M for Animal-Free Meat & Milk Proteins
[Updated 6:16 p.m. See below.] Plant-based foods and beverages are getting more grocery store shelf space as consumers increasingly shop for meat and milk alternatives. But these products typically carry premium prices because making proteins in a lab is still far more expensive than conventional agriculture. Motif Ingredients says it can use biotechnology and fermentation … Continue reading “Ginkgo’s Motif Launches with $90M for Animal-Free Meat & Milk Proteins”
More Power Per Pound: 24M Lithium Ion Batteries Ahead of Curve
Cambridge lithium-ion battery startup 24M claims to have punched through a “state-of-the art industry benchmark” for electric vehicle power storage by packing more kilowatts into each kilogram of battery using its unique design and advanced manufacturing techniques. The startup says it delivered batteries to industrial partners and the United States Advanced Battery Consortium—an Energy Department … Continue reading “More Power Per Pound: 24M Lithium Ion Batteries Ahead of Curve”
New Funds for ParkHub, Neighborhood Goods, Rabbet, & More TX Tech
Let’s catch up with the latest innovation news in Texas. —ParkHub, a Dallas startup that is digitizing how and when users pay for parking, raised $13 million in a Series B funding round, according to a press release. The investment round was led by Arrowroot Capital in Santa Monica, CA and is the first institutional money … Continue reading “New Funds for ParkHub, Neighborhood Goods, Rabbet, & More TX Tech”
Mainstreet Mob Aims the Spotlight on Detroit’s Small Businesses
With so many new restaurants and retailers opening in downtown Detroit to much fanfare in the local press, the mom-and-pop businesses that have always served as the city’s backbone can feel excluded from the revitalization narrative. Often, the shoestring budgets of these small businesses don’t include resources for a digital marketing team, or they may … Continue reading “Mainstreet Mob Aims the Spotlight on Detroit’s Small Businesses”
Novartis to Pay $150M to Ionis, Akcea for Drug to Slow Heart Disease
Novartis has agreed to pay $150 million to Ionis Pharmaceuticals and Boston-based Akcea Therapeutics for the rights to a clinical-stage drug meant to treat patients with abnormally high levels of a protein that is considered a risk factor for cardiovascular disease. The experimental drug, known as AKCEA-APO(a)-LRx by Akcea and TQJ230 by the Swiss pharma … Continue reading “Novartis to Pay $150M to Ionis, Akcea for Drug to Slow Heart Disease”
Mobile-Tech Company Affirmed Networks Raises $38M To Chase 5G Future
Affirmed Networks, a mobile systems software company based in Acton, MA, has raised $38 million in a strategic funding round led by Palo Alto-based Centerview Capital Technology to help it expand into more regions around the globe and invest in new products. The company, founded in 2010, says it develops virtualized and cloud-native network software … Continue reading “Mobile-Tech Company Affirmed Networks Raises $38M To Chase 5G Future”
Scaleworks Adds $80M for Second “Venture Equity” Investment Fund
San Antonio—[Updated 12:32 p.m. See below.] Scaleworks has raised $80 million to acquire more startups, three years after Lew Moorman and Ed Byrne founded the business as a “venture equity” investment shop. Scaleworks branded its investment style as a mix of private equity and venture capital because it buys its targets outright like a private … Continue reading “Scaleworks Adds $80M for Second “Venture Equity” Investment Fund”
Bill Maris’s VC Firm Section 32 Raises $200M for Second Fund
Section 32, the venture capital fund based in San Diego’s Cardiff-by-the-Sea community, has raised nearly $200 million for its second fund. A document filed with securities regulators Friday shed light on comments made the previous week to Xconomy by Section 32 founder Bill Maris, who started the firm in 2017. Maris on Feb. 15 confirmed … Continue reading “Bill Maris’s VC Firm Section 32 Raises $200M for Second Fund”
Roche Bets $4.8B on Spark Therapeutics and the Future of Gene Therapy
Roche has agreed to buy Spark Therapeutics for $4.8 billion, the latest strong signal that major pharmaceutical companies are ready to gamble on the promise of gene therapy despite its uncertain commercial prospects. The Swiss pharma giant will pay $114.50 per share, in cash, for Spark (NASDAQ: [[ticker:ONCE]]), a 122 percent premium to the gene … Continue reading “Roche Bets $4.8B on Spark Therapeutics and the Future of Gene Therapy”
Fintech Pitchfest Highlights Detroit’s Blockchain & Crypto Activity
Southeast Michigan, with its proximity to Canada and top-notch universities, as well as a growing financial technology ecosystem, is well-positioned to be a hub for blockchain businesses. So says Adam Zientarski, policy director at the Detroit Blockchain Center. His organization, in partnership with the FinTech Consortium and Detroit FinTech Bay, will host the inaugural Detroit … Continue reading “Fintech Pitchfest Highlights Detroit’s Blockchain & Crypto Activity”
FDA Staff Hammers Karyopharm Cancer Drug on Safety, Efficacy Concerns
A Karyopharm Therapeutics multiple myeloma drug candidate faces longer odds for speedy FDA approval after the agency’s staff raised questions about the therapy’s efficacy and safety. Staff concerns about Karyopharm drug selinexor were detailed in briefing documents posted Friday afternoon, ahead of an advisory committee meeting scheduled for Tuesday. Such panels are convened to assess … Continue reading “FDA Staff Hammers Karyopharm Cancer Drug on Safety, Efficacy Concerns”
Exact Sciences Eyes Cologuard Market Expansion After “Landmark Year”
[Updated 2/22/19, 2:42 pm CT. See below.] Exact Sciences screened 934,000 patients for colorectal cancer in 2018 using its stool-based diagnostic test, Cologuard, resulting in a 71 percent surge in annual revenue to $454.5 million, the company announced Thursday. Exact (NASDAQ: [[ticker:EXAS]]), which relocated from the Boston area to Madison, WI, in 2009, is one … Continue reading “Exact Sciences Eyes Cologuard Market Expansion After “Landmark Year””
Voyager Therapeutics, AbbVie Add Parkinson’s to Gene Therapy Pact
Voyager Therapeutics and AbbVie, already partners developing gene therapies for Alzheimer’s disease, are now expanding their alliance to include Parkinson’s. AbbVie (NYSE: [[ticker:ABBV]]) is paying Cambridge, MA-based Voyager (NASDAQ: [[ticker:VYGR]]) $65 million up front under the new deal. Gene therapies use viruses to carry the genetic instructions into cells. The agreement calls for Voyager to … Continue reading “Voyager Therapeutics, AbbVie Add Parkinson’s to Gene Therapy Pact”
WI Watchlist: Rockwell, Wellbe, Generac, API Healthcare & More
Here’s a roundup of recent news from Wisconsin’s high-tech industries: —Rockwell Automation (NYSE: [[ticker:ROK]]), the Milwaukee-based seller of hardware and software that enables industrial automation, is forming a joint venture with Houston-based Schlumberger (NYSE: [[ticker:SLB]]), a maker of products for drilling and other tasks in the oil and gas industry. The new venture, called Sensia, … Continue reading “WI Watchlist: Rockwell, Wellbe, Generac, API Healthcare & More”
Bio Roundup: NASH News, Merck Strikes, Digital Tokens & More
The growing epidemic of the fatty liver disease known as NASH, which has no FDA-approved treatment, has led to a frenzied race among drug companies. This week, one company, Intercept Pharmaceuticals, solidified its lead. But how much will being first to the finish line mean when all is said and done? Intercept (NASDAQ: [[ticker:ICPT]]) reported … Continue reading “Bio Roundup: NASH News, Merck Strikes, Digital Tokens & More”
Boston Tech Watch: Thermo Fisher in China, 1upHealth, Anaqua & More
[Updated 2/25/19, 10:55 am. See updated item.] Plenty of Boston technology news this week, from acquisitions to fundings, machine-learning-powered awards predictions and more: —The New York Times says police-affiliated scientists in China were using equipment from Waltham, MA-based Thermo Fisher Scientific (NYSE: [[ticker:TMO]]) to collect DNA data and build “an enormous system of surveillance and … Continue reading “Boston Tech Watch: Thermo Fisher in China, 1upHealth, Anaqua & More”
Spatial.ai’s Geosocial Datasets Capture a Community’s Personality
Even with all that we’ve learned since 2016 about weak protections on consumer data privacy in the United States, people still love social media and reveal a ton of personal information in the course of all that posting, sharing, and liking. The insights gleaned from the wealth of social media data are fueling a number … Continue reading “Spatial.ai’s Geosocial Datasets Capture a Community’s Personality”
Qlik to Acquire Data Integration Software Firm Attunity for $560M
Qlik Technologies, a Pennsylvania-based data analytics company, is acquiring Burlington, MA-based Attunity (NASDAQ: [[ticker:ATTU]]) in a $560 million deal to boost its offerings to help businesses manage and analyze data across on-site data centers and cloud storage services. Attunity’s data integration and management software optimizes data across different storage sites to be accessible for the … Continue reading “Qlik to Acquire Data Integration Software Firm Attunity for $560M”
Notley Invests in DivInc Accelerator for Women and People of Color
Austin—DivInc, a nonprofit business accelerator for women and people of color, has received a philanthropic investment from Notley Ventures to expand its accelerator program. DivInc also announced a partnership with Notley that will let the accelerator use services that Notley offers organizations it works with, including finance, operations, marketing, and fundraising. DivInc plans to move … Continue reading “Notley Invests in DivInc Accelerator for Women and People of Color”
Merck Scooping Up Cancer Drug Developer Immune Design for $300M
Four months after Immune Design halted a late-stage study for its lead cancer vaccine and saw its stock price cut nearly in half, the immunotherapy company is now in line to join Merck’s pipeline in a deal worth approximately $300 million. Merck (NYSE: [[ticker:MRK]] announced Thursday that it has agreed to pay $5.85 per share … Continue reading “Merck Scooping Up Cancer Drug Developer Immune Design for $300M”
Software Startup Portfolium Acquired by Salt Lake City’s Instructure
The software of Portfolium, a San Diego startup that hosts online portfolios for students trying to showcase their achievements to potential employers, is set to join the portfolio of Utah educational software company Instructure. Instructure (NYSE: [[ticker:INST]]) has agreed to acquire privately held Portfolium. No financial terms of the deal, which was announced Tuesday, were … Continue reading “Software Startup Portfolium Acquired by Salt Lake City’s Instructure”
Blaze Bio Raises $5M to Help Surgeons See Tumors From Healthy Tissue
Blaze Bioscience, a Seattle-based biotech developing “tumor paint” that could help surgeons tell the difference between normal and cancerous tissue, has raised $5 million in new equity funding to help advance its lead product candidate through clinical trials. Heather Franklin, Blaze’s founder and CEO, says its latest funding round is still open, and could climb … Continue reading “Blaze Bio Raises $5M to Help Surgeons See Tumors From Healthy Tissue”
Self-Driving Cars in Boston Blinded by Solar Glare at Traffic Lights
Solar glare is making it tough for some self-driving cars being tested in Boston to read whether traffic lights are red, yellow, or green. MIT spinout NuTonomy said that on some recent occasions, the “low evening sun and solar glare” have occasionally kept its autonomous vehicles from being able to read the color on traffic … Continue reading “Self-Driving Cars in Boston Blinded by Solar Glare at Traffic Lights”
Starboard Ups Bristol-Myers Stake Ahead of Vote on Celgene Deal
Activist hedge fund Starboard Value has boosted its stake in Bristol-Myers Squibb and nominated five candidates to serve on the pharmaceutical giant’s board of directors. Bristol-Myers (NYSE: [[ticker:BMY]]) disclosed Starboard’s actions in a regulatory filing Wednesday. They come ahead of a shareholder vote to approve Bristol’s $74 billion proposed buyout of Celgene (NASDAQ: [[ticker:CELG]]). The … Continue reading “Starboard Ups Bristol-Myers Stake Ahead of Vote on Celgene Deal”
Peloton Therapeutics Raises $150M to Advance Kidney Cancer Therapy
Dallas—Peloton Therapeutics, which is developing small molecule drugs to treat cancer, announced Wednesday that it has raised $150 million in a Series E funding round. The new financing was led by RA Capital Management and was joined by new investors, including Eventide Asset Management, Biotechnology Value Fund, OrbiMed, EcoR1 Capital, Vida Ventures, Curative Ventures, and … Continue reading “Peloton Therapeutics Raises $150M to Advance Kidney Cancer Therapy”
Menlo Ventures Devotes New $500M Fund to Mid-Stage Growth Companies
Menlo Ventures, like many other Silicon Valley venture capital firms, has at times looked for big returns from spotting early-stage companies with great promise. But as it launches a new $500 million fund, it plans to hunt for companies that are further along, and seem poised to take off on a growth curve. Those early-growth … Continue reading “Menlo Ventures Devotes New $500M Fund to Mid-Stage Growth Companies”
Detroit Urban Solutions Seeks to Amplify the Regional Tech Ecosystem
TechTown Detroit, Wayne State University, and NextEnergy have formed a new consortium to advance the Motor City’s tech ecosystem and apply new innovations to tough civic challenges. Called Detroit Urban Solutions, the consortium will focus primarily on mobility, digital health, civic, and smart city technologies. We called Paul Riser Jr., who is stepping down from … Continue reading “Detroit Urban Solutions Seeks to Amplify the Regional Tech Ecosystem”
GenCure Plans Adult Stem Cell Lab at San Antonio “Innovation Center”
San Antonio—GenCure, a subsidiary of life sciences nonprofit BioBridge Global, expects to open a biomanufacturing laboratory this year at a new “innovation center” that’s being developed by VelocityTX in San Antonio. GenCure is a regenerative medicine-focused organization that accepts and stores bone marrow and umbilical cord blood, which it uses to produce adult stem cells … Continue reading “GenCure Plans Adult Stem Cell Lab at San Antonio “Innovation Center””
Amazon Leads Rivian’s $700M Round, Hinting at Possible Auto Ambitions
Rivian, a Plymouth, MI-based company getting set to launch sales of its brawny, high-end electric vehicles, will be able to give those efforts a boost after raising $700 million in new funding. Amazon (NASDAQ: [[ticker:AMZN]]) led the investment in Rivian, the latest signal the retailing and technology giant could be poised to make waves in … Continue reading “Amazon Leads Rivian’s $700M Round, Hinting at Possible Auto Ambitions”
Cloud Tech Firm Nasuni Takes in $25M in Telstra-Led Funding Round
It wasn’t the monthly bank statement that made Nasuni, a Boston-based cloud storage technology startup, run out and raise $25 million in venture funding. The company had yet to burn through even half of the $38 million it raised in September 2017 in a venture round led by Goldman Sachs. So, why did Nasuni recently … Continue reading “Cloud Tech Firm Nasuni Takes in $25M in Telstra-Led Funding Round”
Digital Guardian Taps CA Technologies Cyber Exec as Its New CEO
Digital Guardian, a cybersecurity business focused on data loss prevention, has tapped a CA Technologies executive to lead the Waltham, MA-based company several months after the departure of CEO Ken Levine. Mordecai “Mo” Rosen, who most recently managed CA Technologies’ cybersecurity business, is taking over at Digital Guardian from interim CEO, investor, and board member … Continue reading “Digital Guardian Taps CA Technologies Cyber Exec as Its New CEO”
Rapid7, Raytheon, Recorded Future Join Cyber Madness in Boston on April 8
It takes a healthy imagination to pinpoint all the cybersecurity risks baked into today’s Internet-connected, cloud-managed, Web-hungry world—let alone even start to plan for the vulnerabilities, attack strategies, and potent defenses for the future. On April 8, Xconomy is bringing together experts from Boston and beyond to dig into how companies have solved specific problems … Continue reading “Rapid7, Raytheon, Recorded Future Join Cyber Madness in Boston on April 8”
With New Data, Intercept On Track for First-Ever Approved NASH Drug
The first-ever marketed medicine for the fatty liver disease known as nonalcoholic steatohepatitis, or NASH, could be on the horizon. The data, from a closely watched drug known as obeticholic acid, aren’t perfect. But they are nonetheless expected by the drug’s developer, Intercept Pharmaceuticals, to be good enough to support approval. Intercept (NASDAQ: [[ticker:ICPT]]) this … Continue reading “With New Data, Intercept On Track for First-Ever Approved NASH Drug”
Stealth Bio’s IPO Raises $78M for Clinical Tests of Mitochondrial Drugs
Stealth BioTherapeutics has popped up on the radar with a $78 million IPO to fund clinical trials for drugs treating rare mitochondrial disorders. Shares of Stealth Bio (NASDAQ: [[ticker:MITO]]) made their stock market debut Friday at $12 apiece, which was the low end of the company’s targeted $12 to $14 range. The biotech sold 6.5 … Continue reading “Stealth Bio’s IPO Raises $78M for Clinical Tests of Mitochondrial Drugs”
Funds for Richard’s Rainwater, New CPRIT Executive, & More TX Tech
—Pinpoint, an Austin startup that makes analytics tool to measure software engineering’s contribution to businesses, has raised $13.5 million in a Series A funding round led by Bessemer Venture Partners. Other investors include Storm Ventures, Boldstart Ventures, Bloomberg Beta, Slack Fund, Social Capital, and Cherubic Ventures. The new money brings Pinpoint’s total funding to $16.5 million. … Continue reading “Funds for Richard’s Rainwater, New CPRIT Executive, & More TX Tech”
Bayer Snaps Up Rights to Two Cancer Drugs from Lilly’s $8B Loxo Deal
Bayer has just reclaimed some rights to two drugs from Loxo Oncology, which means it’s going to take more work for Loxo’s buyer, Eli Lilly, to justify the $8 billion it is paying for the company. Lilly (NYSE: [[ticker:LLY]]) this morning closed its buyout of Loxo, a developer of cancer drugs that target specific genetic … Continue reading “Bayer Snaps Up Rights to Two Cancer Drugs from Lilly’s $8B Loxo Deal”
Bill Maris Fund Section 32 Notches Two Wins with Life Science Exits
[Updated 6:35 p.m. PT. See below.] Section 32, a venture capital firm headquartered near San Diego that launched in 2017 with a $151 million fund, has had a big month. The firm, based in San Diego’s coastal Cardiff-by-the-Sea community, was started by Bill Maris, who launched and previously headed Google’s corporate venture investment arm, GV (originally called … Continue reading “Bill Maris Fund Section 32 Notches Two Wins with Life Science Exits”
Google Confirms New Madison Office, Part of $13B National Expansion
Google confirmed this week that it will expand its satellite office in Madison, WI, as part of a $13 billion investment in data centers and offices nationwide in 2019. Xconomy reported Jan. 31 that the Bay Area tech giant intends to triple the size of its downtown Madison outpost by adding a second office, located … Continue reading “Google Confirms New Madison Office, Part of $13B National Expansion”
“Stigma is Going Away”: Cannabis IP is Thorny, But Not Impossible
No longer solely the provenance of hippie or outlaw types, the U.S. cannabis industry has become more sophisticated and tech-enabled as it has come out of the shadows over the past decade. Michigan voters pushed the state to joined the ranks of nine others last fall in approving adult use of recreational marijuana. But with … Continue reading ““Stigma is Going Away”: Cannabis IP is Thorny, But Not Impossible”
Boston Tech Watch: Student Loans, Google in Kendall Square & More
General Electric may have backed off its plans for Boston, but at least it’s not leaving town. A student loan startup in Boston eyes help from Capitol Hill. Deals, fundings, and founders moving on. The week in Boston tech is here: —A bill introduced this week in Congress could provide a boost to local student … Continue reading “Boston Tech Watch: Student Loans, Google in Kendall Square & More”
Bio Roundup: Trump’s Scalps, Policy Pressure, NASH Crash & More
While politicians continue to debate what kind of healthcare system is best for the American people, the mostly U.S.-based pharmaceutical industry is trying to convince those same politicians—and anyone else who will listen—that what’s good for the industry is also good for America. Forcing drug prices lower, industry argues, would be bad for our health, … Continue reading “Bio Roundup: Trump’s Scalps, Policy Pressure, NASH Crash & More”