Category: National

Motorola Solutions Pays $445M for VaaS, Which Tracks Car Locations

Fort Worth—Motorola Solutions (NYSE: [[ticker:MSI]]) is acquiring a Texas company that sells law enforcement offices and private businesses data it collects about license plates—which can reveal where a car is at a certain time, say—for $445 million in cash and equity. Through two subsidiaries, Fort Worth, TX-based VaaS International Holdings sells data and image analytics … Continue reading “Motorola Solutions Pays $445M for VaaS, Which Tracks Car Locations”

Alector Files for IPO to Fund Studies of Alzheimer’s, Dementia Drugs

Alector, a biotech company focusing on the immune system to treat degenerative brain disorders such as Alzheimer’s disease, has filed to go public to fund human tests of its experimental therapies. South San Francisco, CA-based Alector set a preliminary $150 million target for its IPO. The company has applied for a listing on the Nasdaq … Continue reading “Alector Files for IPO to Fund Studies of Alzheimer’s, Dementia Drugs”

Microsoft, Kroger Advance Grocery Tech to Fend Off Amazon

From the cloud on down to the floors of supermarkets, the rivalry between Microsoft and Amazon spans many sectors in software, gadgets, and increasingly, retail. The Seattle-area tech giants are battling—both with one another, and other competitors—to further digitize grocery shopping. The latest salvo came on Monday from Microsoft (NASDAQ: [[ticker:MSFT]]), which announced new details … Continue reading “Microsoft, Kroger Advance Grocery Tech to Fend Off Amazon”

Bio-JPM Roundup: Lilly Buys Loxo, Sage’s Stock Soars, ALS Cash & More

The flow of biotech news is particularly heavy today, and for good reason. The annual J.P. Morgan Healthcare Conference, one of the biggest gatherings for the biopharmaceutical industry, kicked off today in San Francisco, and many companies, whether they’re speaking at the event or not, use this time to get their news out. Xconomy is … Continue reading “Bio-JPM Roundup: Lilly Buys Loxo, Sage’s Stock Soars, ALS Cash & More”

Tidelift’s “Netflix for Open-Source Software” Model Gets $25M Boost

Tidelift, a startup trying to solve some of the open-source software industry’s problems around compensation and security, said it wrapped up a $25 million investment to gather more publicly maintained software projects under its umbrella. The Boston-based company, founded in 2017 by four Red Hat vets, said it is trying to recreate what Red Hat … Continue reading “Tidelift’s “Netflix for Open-Source Software” Model Gets $25M Boost”

Humatics Raises $28M Round to Advance Spatial Intelligence Platform

Humatics, the Waltham, MA-based startup working on microlocation technology for use in robots and autonomous vehicles, today announced that it has raised $28 million in a Series A1 round. The investment was led by Tenfore Holdings, with participation from Blackhorn Ventures, JCI Ventures (the venture arm of Johnson Controls), and all major investors from Humatics’ 2017 Series … Continue reading “Humatics Raises $28M Round to Advance Spatial Intelligence Platform”

Sage Hits Mark in Postpartum Depression Phase 3 Trial, Stock Surges

Sage Therapeutics could soon win FDA approval for its postpartum depression (PPD) drug brexanalone, a 60-hour infusion supervised by a medical professional that could become the first drug to the market for the condition. But another experimental Sage drug that works in a similar way—but is a pill that patients could potentially take at home—called … Continue reading “Sage Hits Mark in Postpartum Depression Phase 3 Trial, Stock Surges”

Eli Lilly Makes an $8B Cancer Genetics Bet with Loxo Acquisition

[Updated 1/7/19, 11 a.m. ET. See below.] Eli Lilly is set to acquire Loxo Oncology for approximately $8 billion—a deal that brings to the Indianapolis pharmaceutical giant a class of drugs that treat cancers with particular genetic signatures. Under the agreement announced Monday, Lilly (NYSE: [[ticker:LLY]]) will pay $235 cash per share of Loxo (NASDAQ: … Continue reading “Eli Lilly Makes an $8B Cancer Genetics Bet with Loxo Acquisition”

Frequency Nabs $42M for Hearing Loss Drugs, Clinical Data On The Way

Hearing loss drug development continues to attract investment, with Frequency Therapeutics announcing today that it has brought in $42 million in a Series B financing to help it move its treatment through clinical testing. Boston area-based Frequency is working on small molecule drugs that stimulate the growth of dormant stem cells in the body, and … Continue reading “Frequency Nabs $42M for Hearing Loss Drugs, Clinical Data On The Way”

Wayfair’s Steve Conine on the Amazon Threat, Adopting A.I. & More

The prospect of Amazon putting your business in its crosshairs is enough to give any executive some sleepless nights. Wayfair co-founder Steve Conine seems undaunted. Over the past 17 years, Conine and Wayfair co-founder and CEO Niraj Shah have built the Boston-based company (NYSE: [[ticker:W]]) into one of the largest online sellers of home goods, … Continue reading “Wayfair’s Steve Conine on the Amazon Threat, Adopting A.I. & More”

Tech Leaders Weigh In on Tim Berners-Lee’s “Contract for the Web”

Looking back over the past two years, it seems that public perceptions of tech companies have shifted, compared with the eager acceptance that often prevailed as innovations from these businesses transformed social interactions, transportation, and other aspects of life. In early 2017, a more critical mood began to take hold as Uber’s allegedly biased employment … Continue reading “Tech Leaders Weigh In on Tim Berners-Lee’s “Contract for the Web””

Vade Nutrition Swims Out of MSU and Into “Shark Tank,” Scores $700K

While attending Michigan State University in the mid-2010s, Joe Johnson earned a degree in finance, served as the captain of the school’s wrestling team, and met and married his wife Megan. In between, he found time to dream of starting his own company, but he never imagined he would one day count retired professional baseball … Continue reading “Vade Nutrition Swims Out of MSU and Into “Shark Tank,” Scores $700K”

Poseida Therapeutics Prepares for IPO to Advance CAR-T Treatments

Poseida Therapeutics, which is testing CAR-T cell therapies for blood-borne and solid tumor cancers, has laid the groundwork for an initial public offering. In documents filed with securities regulators Friday, the San Diego company set a preliminary IPO target of $115 million. The company has applied for a listing on the Nasdaq stock exchange under … Continue reading “Poseida Therapeutics Prepares for IPO to Advance CAR-T Treatments”

Seattle Startup Funding News: Immusoft, TurboPatent, VYRTY & More

Catch up on funding news in the Seattle area’s early-stage business ecosystem from late December and early January: —Immusoft, which is developing technology to genetically reprogram patients’ B cells outside the body to produce therapeutic proteins, said it raised $20 million from investors. The Seattle-based company said a mix of new investors and return backers … Continue reading “Seattle Startup Funding News: Immusoft, TurboPatent, VYRTY & More”

Genentech, Adaptive Bio Join Forces on Personalized Cancer Drugs R&D

Genentech is paying Adaptive Biotechnologies $300 million up front in a new partnership focused on developing cancer immunotherapies personalized to individual patients. Seattle-based Adaptive has technology that can analyze the immune system to find targets for cell therapies. Adaptive says that its screening technology enables it to discover T-cell receptors (TCRs) that can recognize and … Continue reading “Genentech, Adaptive Bio Join Forces on Personalized Cancer Drugs R&D”

Bio Roundup: $74B for Celgene, Two CAR-T Tales, Ready for SF & More

In 2018, my Exome colleagues and I published hundreds of stories about health, medicine, the biopharma industry, government policy, and more. You’ll find a few of our favorite stories in this review of some of the year’s best from across the Xconomy network. Topics ranged from the worries over CRISPR genome editing and Wild West … Continue reading “Bio Roundup: $74B for Celgene, Two CAR-T Tales, Ready for SF & More”

From Immigration to Taxes, Execs Talk Trump Effect on Innovation

When it comes to developing and promoting innovation, external factors beyond the control of company founders, investors, and other business leaders can also determine whether a startup succeeds or fails. In 2018, geopolitical events—in particular, President Donald Trump’s hard-line stances on trade and immigration, and the repeal of net neutrality rules—were top of mind for … Continue reading “From Immigration to Taxes, Execs Talk Trump Effect on Innovation”

WI Watchlist: Baird, Exact Sciences, Somna Therapeutics, & More

Happy New Year, readers. To kick off 2019, here are some recent headlines from Wisconsin’s innovation community: —The venture capital arm of Milwaukee-based Robert W. Baird & Co. is trying to raise $185 million for its fifth venture fund, according to a new SEC filing. The firm has yet to collect any of the money, … Continue reading “WI Watchlist: Baird, Exact Sciences, Somna Therapeutics, & More”

Ribon Raises $65M to Pursue PARP-Blocking Pills for Cancer

A new class of ovarian and breast cancer drugs that thwart a DNA repair mechanism ushered in a novel approach to treating cancer. The first PARP inhibitor was approved in 2014. That drug, and others that followed, block a PARP enzyme that plays a key role in this repair process. But it turns out there’s … Continue reading “Ribon Raises $65M to Pursue PARP-Blocking Pills for Cancer”

Forge Therapeutics Gets up to $11.1M to Advance “Superbug” Drugs

[Updated 1/4/19, 9:10 p.m. PT. See below.] As strains of bacteria evolve to fight back against common antibiotics, a slew of biotechnology companies are working to develop ways to combat these “superbugs.” San Diego’s Forge Therapeutics is among those targeting gram-negative bacteria, a type of bacteria that has a protective outer membrane that makes it … Continue reading “Forge Therapeutics Gets up to $11.1M to Advance “Superbug” Drugs”

Fujifilm Cellular Dynamics to Invest $21M in Facility Near Madison HQ

Fujifilm Cellular Dynamics said it plans to invest about $21 million to establish a facility for developing and manufacturing stem cells in Madison, WI, where the company is based. The firm, which was acquired by Japan-based Fujifilm in 2015, said it expects the facility to begin operating by March 2020. It plans to use the … Continue reading “Fujifilm Cellular Dynamics to Invest $21M in Facility Near Madison HQ”

Alphabet’s Biotech R&D Arm Verily Raises $1B to Fuel Growth

Verily, the biotech research and development company owned by Google parent Alphabet, has raised $1 billion in an investment round led by Menlo Park, CA-based private equity titan Silver Lake. The South San Francisco, CA-based company was formerly known as Google Life Sciences before Alphabet (NASDAQ: [[ticker:GOOG]]) spun it off from the search engine giant … Continue reading “Alphabet’s Biotech R&D Arm Verily Raises $1B to Fuel Growth”

For CAR-T Cancer Fighters in the Real World, Two Roads Diverge

[Corrected, 1/4/19, 3:55pm ET. See below.] A generation ago, cancer treatments made from a patient’s own living immune cells would have been science fiction. Now they’re here. The first two products, approved in 2017 and known in shorthand as CAR-T, have brought some people with otherwise untreatable blood cancers back from the brink of death. … Continue reading “For CAR-T Cancer Fighters in the Real World, Two Roads Diverge”

Tizona Lands $105M from AbbVie in Cancer Drug R&D Alliance

A cancer immunotherapy teed up for clinical trials by Tizona Therapeutics is now the centerpiece of a new partnership with AbbVie, which is paying the startup $105 million up front. In addition to the cash paid to South San Francisco, CA-based Tizona, AbbVie (NYSE: [[ticker:ABBV]]) said Thursday that it has made an equity investment in … Continue reading “Tizona Lands $105M from AbbVie in Cancer Drug R&D Alliance”

How a San Antonio Physician Went From a Spy Plane to Olifant Medical

San Antonio — Entrepreneurship wasn’t something that Steven Venticinque expected to pursue in his life. Like many tinkerers and inventors, Venticinque took to entrepreneurship in order to fix a problem. Intubation—the process of quickly inserting a breathing tube into someone, such as an emergency room patient who needs help breathing—isn’t as easy as you might think. … Continue reading “How a San Antonio Physician Went From a Spy Plane to Olifant Medical”

In a Huge Biopharma Shakeup, Bristol-Myers to Buy Celgene For $74B

Bristol-Myers Squibb has agreed to acquire Celgene in a deal that would create one of the largest biopharma organizations in the world and send ripples throughout the life sciences sector. Bristol (NYSE: [[ticker:BMY]]) on Thursday morning inked a deal to buy Celgene (NASDAQ: [[ticker:CELG]]) in a deal that values the Summit, NJ, drugmaker at $74 … Continue reading “In a Huge Biopharma Shakeup, Bristol-Myers to Buy Celgene For $74B”

Get Off the Bus: Austin’s Hitch Offers Car Rides to Houston and Back

Austin—In just a handful of years, people with smartphones have flocked in droves to ride-hailing services like Uber and Lyft to get around town. Now, an Austin, TX-based startup wants to help travelers take trips out of town. Hitch, which launched its service last month, has adopted the popular ride-sharing model for trips between Houston … Continue reading “Get Off the Bus: Austin’s Hitch Offers Car Rides to Houston and Back”

Invest Michigan Hits Milestone, Backs Fiftieth Company in Four Years

Invest Michigan, an investment fund supported by the state-backed Michigan Strategic Fund, hit a major milestone at the end of 2018: it invested in its fiftieth company in four years. Ann Arbor’s Spellbound, which has developed a therapeutic tool to help kids cope with illness and engage in treatment through augmented reality technology, received the … Continue reading “Invest Michigan Hits Milestone, Backs Fiftieth Company in Four Years”

Tiburio Launches from Cydan with $31M to Tackle Pituitary Tumors

Biotech startup creator Cydan is unveiling a new company, Tiburio Therapeutics, which is backed by $31 million to support its work on treatments for rare endocrine diseases. Cambridge, MA-based Cydan was started by New Enterprise Associates (NEA) six years ago to scour the world for compounds that can be turned into rare disease treatments, and … Continue reading “Tiburio Launches from Cydan with $31M to Tackle Pituitary Tumors”

LÜM’s Music Discovery App Aims to Help Emerging Artists Find Fans

[Corrected 10/14/19, 3:36 pm CT. See below.] The music streaming wars are far from over. While big players like Spotify, Apple, and Amazon fight to make their music apps the go-to option for listening to the latest hit tracks from well-known artists such as Beyoncé, Drake, and Mumford & Sons, young startups still see room … Continue reading “LÜM’s Music Discovery App Aims to Help Emerging Artists Find Fans”

4 San Diego Startups Ring in New Year With New Venture Dollars

Heads of some local tech startups—or at least their lawyers—stayed busy over the winter holiday. Four reported raising $10 million or more within days of the New Year, according to recent filings with securities regulators. While the softening stock market may have ruined a few holiday breaks, these San Diego software companies were undoubtedly raising … Continue reading “4 San Diego Startups Ring in New Year With New Venture Dollars”

Endeavor Robotics Sues Rival QinetiQ Over Stair-Climbing Patents

Endeavor Robotics is suing QinetiQ, its lone competitor in a heated competition for a $429 million defense contract, for using two of Endeavor’s patented methods to get a robot to climb stairs. Endeavor, based in Chelmsford, MA, is asking the U.S. District Court in Delaware to declare that Waltham, MA-based QinetiQ North America is infringing … Continue reading “Endeavor Robotics Sues Rival QinetiQ Over Stair-Climbing Patents”

MyoKardia Goes Solo as Sanofi Ends Precision Heart Drug Deal

MyoKardia rode a partnership with Sanofi to the public markets a few years ago. But the two companies are cutting ties today, with MyoKardia regaining full rights to its drug programs and assuming all the upside—and risk—of their success or failure. MyoKardia (NASDAQ: [[ticker:MYOK]]) said the deal, which started in September 2014, will wrap up … Continue reading “MyoKardia Goes Solo as Sanofi Ends Precision Heart Drug Deal”

Atlas Venture Bags $250M For New Growth Capital Fund

Atlas Venture says it has raised a $250 million fund meant to continue backing its startups as they grow. The Cambridge, MA, life sciences venture firm, known for seeding and incubating biotech startups, will use the new “Atlas Venture Opportunity Fund I” to invest in portfolio companies that have progressed to a Series B round … Continue reading “Atlas Venture Bags $250M For New Growth Capital Fund”

Copps: Key Ingredient As A.I. Permeates Daily Life is Building Trust

The promise, and pitfalls, of artificial intelligence became more apparent in the last year, and for Dave Copps, founder of A.I. companies such as Brainspace and Hypergiant Sensory Sciences, the pace of adoption will only accelerate in 2019. What can help to smooth the transition to our new machine learning-enabled future is an effort on … Continue reading “Copps: Key Ingredient As A.I. Permeates Daily Life is Building Trust”

Three Ways 5G Is More Than Just Fast Video Streaming

In 2019, we will finally see commercial deployment of the much-anticipated 5G (fifth-generation) wireless network. 5G brings us closer to the possibility and promise of ubiquitous, un-tethered connection between every device and every entity. The projected exponential increase in bandwidth, low latency, ultra-reliable connections, and highly configurable network solutions enabled by 5G will go beyond … Continue reading “Three Ways 5G Is More Than Just Fast Video Streaming”

New Year to Bring New Data Security Threats, Cyber Investor Warns

Bob Ackerman is one of the venture capitalists whose funding has long fed the growth of the burgeoning cybersecurity industry. So, you might imagine that his outlook on data protection for 2019 would be more optimistic than in past years, because businesses now take advantage of a broad choice of security services to protect themselves. … Continue reading “New Year to Bring New Data Security Threats, Cyber Investor Warns”

NY’s Research Institutions Must Keep Working Together in ‘19

[Corrected, 1/7/19, 5:15 pm. See below.] [Editor’s Note: Euan Robertson, the Director of Strategic Planning & Special Projects at Columbia Technology Ventures, co-wrote this article.] It is a commonly held belief that academic research institutions, including those in New York City, are fierce competitors. In some ways, that may be true: Universities battle with each … Continue reading “NY’s Research Institutions Must Keep Working Together in ‘19”

In 2019, the Dam Will Break: Student Debt Predictions and Solutions

With the density of colleges and universities in the Boston area, we don’t often recognize how inaccessible higher education has become for the majority of the country. In fact, seven out of 10 college graduates today have outstanding student loans. And while many of us believe that education is a “must-have,” it’s alarming how structurally … Continue reading “In 2019, the Dam Will Break: Student Debt Predictions and Solutions”

Indy Roundup: Pelican BioThermal, Pattern89, Perceivant Make Moves

As 2018 comes to a close, Indiana startups and tech entrepreneurs are as busy as ever. Here are some recent headlines from the Hoosier State’s innovation community: —Pattern89, a startup using artificial intelligence to improve paid advertising results on social media, has raised a $3.5 million funding round. The investment was led by F&M Investments, … Continue reading “Indy Roundup: Pelican BioThermal, Pattern89, Perceivant Make Moves”

From Alnylam to Zayner: Xconomy’s Top Innovation Stories of 2018

2018 was a year of ups and downs for the business and technology community. It was a year of big exits—both IPOs and acquisitions—for tech and life sciences companies. Venture funding remained strong, but more money went to fewer (and later-stage) companies overall. As the year winds down, we’re reflecting on the big innovation trends … Continue reading “From Alnylam to Zayner: Xconomy’s Top Innovation Stories of 2018”

Saxena: More Than a Tool, A.I. Must Be Used With Society in Mind

[Updated 12/27/18, 9:54 am] Manoj Saxena is bullish on artificial intelligence. As chairman of Austin, TX-based A.I. startup CognitiveScale and managing director of The Entrepreneur Fund, which makes investments in early-stage machine learning companies, Saxena believes A.I. can transform how we work and play—creating opportunities for business. But he’s also aware that the technology, if … Continue reading “Saxena: More Than a Tool, A.I. Must Be Used With Society in Mind”

CFOs: Prepare To Become Your Company’s Data Czar This Year

In mid-2018, Tom Bogan was the leader of business planning software company Adaptive Insights as it planned its own next steps. The Palo Alto, CA-based company was on the point of raising about $115 million in a June IPO that would have set its market value at around $705 million, according to PitchBook. But like … Continue reading “CFOs: Prepare To Become Your Company’s Data Czar This Year”

Boston A.I. Leaders Call for Focus on Diversity, Global Mindset in 2019

It was an eventful year for the artificial intelligence industry. The sector saw more big venture capital deals and acquisitions, while researchers kept plugging away on technology advances. Meanwhile, A.I. developers continued to grapple with issues around transparency, trust, and ethics. As part of Xconomy’s series of year-end posts, we asked a pair of CEOs … Continue reading “Boston A.I. Leaders Call for Focus on Diversity, Global Mindset in 2019”

San Francisco Biotech: The Next Generation—Photos and Takeaways

Among the life science companies developing new approaches to disease today are those that will shape the healthcare of tomorrow.  Earlier this month, Xconomy offered a select audience a peek at some of them making advances in the Bay Area. Three companies aiming to transform healthcare took to the stage at UCSF Mission Bay on … Continue reading “San Francisco Biotech: The Next Generation—Photos and Takeaways”

Gossamer Bio Files for IPO at End of Year in Which It Raised $330M

Gossamer Bio, headed by former Receptos executives, made its debut in January with $100 million in financing. Seven months later, it tacked on another $230 million. Now, the San Diego-based startup is looking to Wall Street for additional funds. The company last Friday outlined plans for an initial public offering to advance its development of … Continue reading “Gossamer Bio Files for IPO at End of Year in Which It Raised $330M”

Gates Foundation, Bristol-Myers Join $27M Funding for Vedanta Bio

Microbiome drug developer Vedanta Biosciences has raised $27 million in funding to press forward with clinical trials for four therapeutic candidates. Vedanta’s experimental treatments are compositions of live bacteria that the Cambridge, MA, company says trigger a targeted immune response. By shifting the ecosystem of gut bacteria, Vedanta says its therapies can potentially treat autoimmune … Continue reading “Gates Foundation, Bristol-Myers Join $27M Funding for Vedanta Bio”

Acorda Gets FDA Nod for New Parkinson’s Drug, But Rival Looms

The FDA late Friday approved a new treatment meant to help Parkinson’s disease patients cope with “off” episodes, when their medications stop working. The drug, Inbrija, from Acorda Therapeutics (NASDAQ: [[ticker:ACOR]]), is one of two similar treatments—along with APL-130277, from Sunovion Pharmaceuticals—expected to come to market in 2019. And its commercial success is critical for … Continue reading “Acorda Gets FDA Nod for New Parkinson’s Drug, But Rival Looms”

VCs May Face Backlash if Profits Come at Expense of Responsibility

Venture capital is, by nature, an optimistic industry, and venture capitalists have historically gone about their work comfortable that they were making positive societal contributions. When looking at VC activity over the past half century, one can see venture capital’s role in championing endeavors that advanced knowledge, improved health, increased worker productivity, and preserved natural … Continue reading “VCs May Face Backlash if Profits Come at Expense of Responsibility”