[Updated 12/13/18, 7:20 p.m.] Erik Halvorsen, who led the Texas Medical Center’s Innovation Institute, is out as director of the institute. Lance Black, the institute’s medical device lead, became the interim director Thursday, Black confirmed. He declined to comment further. Halvorsen, a veteran of the Boston biotech scene, joined the TMC nearly three years ago … Continue reading “TMC’s Halvorsen Exits Innovation Institute in Houston”
Category: National
Udacity Achieves 50,000 Nanodegree Grads Amid Company Reorganization
Udacity, a pioneer in the online teaching of IT skills, is celebrating a milestone today—50,000 students have now graduated from one of its revenue-generating “Nanodegree” programs. Launched four years ago, the Nanodegree courses allow students worldwide to gain expertise in areas such as data analytics, machine learning, and autonomous flight engineering by completing coursework that … Continue reading “Udacity Achieves 50,000 Nanodegree Grads Amid Company Reorganization”
Female-Centric Coworking Firm The Riveter Raises $15M to Fuel Growth
The outlook appears to be rosy for The Riveter. The Seattle-based startup, which bills itself as a “membership network built by women, for everyone,” says it has raised $15 million in new funding. The Riveter, which launched in May 2017, operates coworking spaces and organizes events and workshops for its members and the public. It … Continue reading “Female-Centric Coworking Firm The Riveter Raises $15M to Fuel Growth”
Apple Plans 5,000 Jobs for New Austin Site as Part of Nationwide Expansion
Austin — [Updated 3:10 p.m. See below.] Apple expects to make thousands of new hires around the country from Seattle to New York, the company announced Thursday, with its biggest growth planned for Austin, TX. The computer and smartphone manufacturer plans to hire 5,000 new employees in Austin and to spend $1 billion building a new … Continue reading “Apple Plans 5,000 Jobs for New Austin Site as Part of Nationwide Expansion”
Hi Fidelity Genetics Raises $8.5M to Improve Plant Breeding With AI
Cross breeding plants is a time-tested practice for producing hybrids with higher crop yields. But finding the plant parents with the genetics that will generate the best hybrid takes time. Hi Fidelity Genetics says its artificial intelligence approach speeds up the process and reduces costs. As Hi Fidelity ramps up its research and development, the … Continue reading “Hi Fidelity Genetics Raises $8.5M to Improve Plant Breeding With AI”
Aiera Bags $3.5M for A.I. to Help Wall Street Analysts Pick Stocks
Machine learning startups are trying to establish a deeper presence on Wall Street. The latest move comes from Aiera (pronounced like “era”), a New York- and Boston-based company that announced today it took in $3.5 million in seed funding. Flybridge Capital Partners led the investment and was joined by Macquarie Group, Innovation Endeavors, Fin Venture … Continue reading “Aiera Bags $3.5M for A.I. to Help Wall Street Analysts Pick Stocks”
ExactTarget’s McCorkle Hatches MetaCX to Improve Software Experience
Scott McCorkle, one of Indiana’s more seasoned software executives, is back in the startup arena with MetaCX, a High Alpha-backed company focused on “customer success” software. MetaCX launched last week with $14 million in seed funding led by Los Angeles-based Upfront Ventures. Upfront Ventures partner Kobie Fuller will join the MetaCX board along with McCorkle … Continue reading “ExactTarget’s McCorkle Hatches MetaCX to Improve Software Experience”
Facial Recognition Startup Suspect Technologies Raises $810K
Amid warnings over potential dangers of facial recognition, Jacob Sniff is still bullish on the technology. His Cambridge, MA-based facial recognition software startup Suspect Technologies has closed on an $810,000 funding round co-led by billionaire investor and “Shark Tank” star Mark Cuban and Santa Monica, CA-based venture firm Chaac Ventures. Up until now, Suspect Technologies … Continue reading “Facial Recognition Startup Suspect Technologies Raises $810K”
Hospital Robots, Vista Bets on Diversity, Cocktails, & More TX Tech
Let’s catch up with the latest innovation news in Texas. —Two Texas startups have been named to the inaugural 2019 cohort of the LaunchPad Lift program, which is organized by Blackstone LaunchPad and Techstars. One of them, Lazarus, is a Texas A&M University spinout developing ammunition that minimizes blood loss to preserve life after penetration. … Continue reading “Hospital Robots, Vista Bets on Diversity, Cocktails, & More TX Tech”
Eli Lilly Partners with AC Immune on Tau Blockers for Alzheimer’s
There’s at least one major pharmaceutical company that isn’t giving up yet on finding a drug for Alzheimer’s disease, despite a long trail of clinical flops. Eli Lilly is pairing up with AC Immune to develop drugs that block tau, a protein linked to the neurodegenerative disease. Under the agreement announced Wednesday, AC Immune (NASDAQ: … Continue reading “Eli Lilly Partners with AC Immune on Tau Blockers for Alzheimer’s”
Farm Startup Bowery Lands $90M to Take Indoor-Grown Greens National
Foodies in New York City may not realize it, but some of the tasty kale, bok choy, and other leafy greens they buy trace their origins to an industrial park in New Jersey. The produce grown by indoor farming startup Bowery never sees soil or natural sunlight before making its way to select restaurants and … Continue reading “Farm Startup Bowery Lands $90M to Take Indoor-Grown Greens National”
To Cover Debts, Synergy Inks $200M Bankruptcy Sale to Bausch Health
Synergy Pharmaceuticals has spent years looking for a buyer. The developer of a struggling drug for two types of chronic constipation finally has one—now that it’s gone bankrupt. New York-based Synergy (NASDAQ [[ticker:SGYP]]) cut a deal on Wednesday to sell itself to Bausch Health, a Canadian specialty pharma company, for roughly $200 million in cash. … Continue reading “To Cover Debts, Synergy Inks $200M Bankruptcy Sale to Bausch Health”
The Power of Dreams: Making a Difference as a Detroit Entrepreneur
Those born and raised in Detroit are used to defying expectations, but making your dreams a reality is never an easy task. It involves overcoming both personal and professional hardships, which is why I named my business Make Your Dreams Come True (MYDCT). Inspired by what I wanted to do for both myself and others, … Continue reading “The Power of Dreams: Making a Difference as a Detroit Entrepreneur”
House Members Grill Google CEO Amid Bipartisan Privacy Concerns
Google CEO Sundar Pichai took his turn in the Congressional hotseat on Tuesday, following similar appearances by the chief executives of Facebook and Twitter earlier this year before lawmakers who are increasingly alert to the vast societal impact of Silicon Valley tech giants. House Majority Leader Kevin McCarthy opened a hearing before the House Judiciary … Continue reading “House Members Grill Google CEO Amid Bipartisan Privacy Concerns”
Truepic Acquires Image Forensics IP to Broaden Anti-Fraud Offering
Image authentication startup Truepic said Tuesday it has acquired the intellectual property and software behind San Jose-based Fourandsix Technologies—including Izitru, an image forensics technology licensed earlier this year by DARPA. Fourandsix (pronounced “forensics”), founded by Hany Farid, a Dartmouth professor and digital forensics expert, and Kevin Conner, formerly vice president of product management for Adobe’s … Continue reading “Truepic Acquires Image Forensics IP to Broaden Anti-Fraud Offering”
With New Cash, Sensemetrics Aims to Take Industrial IoT Tech Global
Thinking about Internet-connected devices often brings to mind “smart” home appliances and consumer gadgets. San Diego startup Sensemetrics is applying that technology to the industrial Internet-of-things sector (IIoT), selling access to its cloud platform to the world’s largest mining companies and government agencies monitoring major infrastructure, such as dams. On Tuesday, Sensemetrics announced it has … Continue reading “With New Cash, Sensemetrics Aims to Take Industrial IoT Tech Global”
Survey: Microsoft’s Collaboration Tools Now More Popular Than Slack
Many young professionals like to reminisce about technologies that were popular during their teenage years, like Nokia cellphones and AOL instant messenger. While AIM’s best days seem to have passed, many modern workplaces still use software with built-in chat tools, which tend to have a less formal feel than e-mail. One such offering, Microsoft Teams, … Continue reading “Survey: Microsoft’s Collaboration Tools Now More Popular Than Slack”
Adding A.I. to the Factory Floor, MachineMetrics Powers Up with $11M
Many of today’s factories are a far cry from the soot-covered, smoke-belching machine shops of old: The Internet-connected machines talk to one another, compile output and maintenance data, and some accept software updates much like personal computers or smartphones. But managing the tides of incoming data to fine-tune factory productivity has required an industry of … Continue reading “Adding A.I. to the Factory Floor, MachineMetrics Powers Up with $11M”
Pear Therapeutics App Gets FDA Nod for Treating Opioid Abuse
Doctors and other caregivers have a new weapon to combat the opioid epidemic. But it’s not a pharmaceutical drug—it’s a mobile app. This week, the FDA cleared “reSET-O,” an app developed by “digital therapeutics” startup Pear Therapeutics, for sale in the U.S. as a treatment for patients recovering from opioid abuse disorder. Doctors can now … Continue reading “Pear Therapeutics App Gets FDA Nod for Treating Opioid Abuse”
Alcohol-Delivery App Drizly Doubles VC Haul with $34M Funding Round
Booze delivery app Drizly has raised $34.6 million in a new funding round, according to regulatory filings, nearly doubling the total venture capital the company has taken in since its 2012 founding. The Boston-based company—which operates an online marketplace for beer, wine, and liquor that’s delivered to customers’ doors—closed its last funding in February 2017 … Continue reading “Alcohol-Delivery App Drizly Doubles VC Haul with $34M Funding Round”
Dell Sets Return to Public Market With Shareholder OK of VMware Deal
Austin—Dell Technologies is on its way to becoming a public company again. Shareholders of a stock that’s linked to Dell subsidiary VMware approved a plan for Dell to buy out the stock, allowing it to return to the public market. Dell, based in Round Rock, TX, announced Tuesday that 61 percent of the shareholders of … Continue reading “Dell Sets Return to Public Market With Shareholder OK of VMware Deal”
HubSpot Wants to Stoke Innovation With $30M Corporate Venture Fund
Hubspot is launching a $30 million corporate venture capital fund to invest in promising startups that can boost its marketing platform. HubSpot Ventures will back companies with software tools that align with the Cambridge, MA-based company’s aim to help small and medium businesses grow, the company says. Target companies will also need to align with … Continue reading “HubSpot Wants to Stoke Innovation With $30M Corporate Venture Fund”
Black Diamond Emerges with $20M, Aiming for Cancer’s Hidden Targets
Nearly two years ago, Versant Ventures used some of its new $400 million fund to set up a drug discovery unit in Europe. The goal was to produce drugs and technology to spin out into independent companies. The first to launch from that effort, Black Diamond Therapeutics, has just emerged with an unusual approach to … Continue reading “Black Diamond Emerges with $20M, Aiming for Cancer’s Hidden Targets”
IPOs Will Strip Veils From Uber & Lyft’s Financials, Strategies
The IPO of any private company comes as the resolution of a mystery, as closely held details about its financial performance and strategies are revealed. But the suspense is heightened in the case of San Francisco-based companies Uber and Lyft, which pioneered the huge ride-hailing industry but have yet to come close to turning a … Continue reading “IPOs Will Strip Veils From Uber & Lyft’s Financials, Strategies”
Mitek Stock Price Rises After ASG Beefs Up Acquisition Offer
ASG Technologies, the Florida-based software company backed by activist hedge fund Elliott Management, has upped its offer for San Diego’s Mitek Systems to $11.50 per share from $10 apiece. That’s according to a Nov. 26 letter the Florida-based software company made public Monday. The stock price of Mitek (NASDAQ: [[ticker:MITK]]) rose nearly 9 percent on … Continue reading “Mitek Stock Price Rises After ASG Beefs Up Acquisition Offer”
Qualcomm Says Chinese Court Has Banned Some Apple iPhone Sales
Qualcomm announced a win Monday in its ongoing and multijurisdictional legal battle with Apple. The San Diego chipmaker said a Chinese court has ordered four Apple (NASDAQ: [[ticker:AAPL]]) subsidiaries in China to stop the sale and import of seven iPhone models in that country. Qualcomm (NASDAQ: [[ticker:QCOM]]) said the court had granted two preliminary injunctions … Continue reading “Qualcomm Says Chinese Court Has Banned Some Apple iPhone Sales”
Marinus Claims Phase 2 Postpartum Depression Win, Analysts Less Sure
Marinus Pharmaceuticals says its treatment for postpartum depression (PPD) is showing encouraging results in a mid-stage study—enough to continue clinical development. But it’s unclear whether the results are statistically significant or enough to make the drug competitive against a Sage Therapeutics drug now awaiting an FDA decision for the same condition. Marinus (NASDAQ: [[ticker:MRNS]]) said … Continue reading “Marinus Claims Phase 2 Postpartum Depression Win, Analysts Less Sure”
After $2B+ Cisco Buyout, Dug Song Reflects on Duo Security’s Journey
Successful startup founders who are also humble and down-to-earth are a rare breed in the tech industry. But Duo Security co-founder and former CEO Dug Song is a mensch in every sense of the word. Song is best known as the guy who started and nurtured a cybersecurity company worth billions in Ann Arbor, MI—outside … Continue reading “After $2B+ Cisco Buyout, Dug Song Reflects on Duo Security’s Journey”
Roche Vet O’Day Tapped to Shape Gilead’s Future as Hep C Sales Fall
Daniel O’Day, a veteran executive from Swiss pharma giant Roche, has been tapped for one of the top jobs in biotech. He’s been named the CEO of Gilead Sciences (NASDAQ: [[ticker:GILD]]), which is searching for a new direction after the quick rise and fall of a once-lucrative business for hepatitis C medicines. The Foster City, … Continue reading “Roche Vet O’Day Tapped to Shape Gilead’s Future as Hep C Sales Fall”
San Antonio Seeks to Be Known as Silicon Valley of Military Medicine
San Antonio — When it comes to medical technology, what’s good for the military isn’t always good for the private sector. It’s often difficult for military researchers to find investors who will help them privately commercialize the innovations they develop, in part because the duties of military physicians are different than those of civilian doctors. That’s … Continue reading “San Antonio Seeks to Be Known as Silicon Valley of Military Medicine”
McAfee CTO On Election Hacking, Cryptojacking, Quantum Security
Election hacking. Information warfare. Adversarial artificial intelligence. All worrisome topics racing through Steve Grobman’s head these days. But the McAfee chief technology officer seems surprisingly upbeat about the prospects of meeting these cybersecurity challenges—or at least putting up a good fight. I met Grobman at a coffee shop in downtown Boston last week. He was … Continue reading “McAfee CTO On Election Hacking, Cryptojacking, Quantum Security”
LunaDNA Offers Stock for Data in Bid to Build Research Database
Henrietta Lacks’s “immortal cells” contributed enormously to the progression of scientific discovery, but Lacks, a poor, black woman who died from cervical cancer in 1951 months after her cells were harvested, never personally benefited from or consented to the medical research the HeLa cell line enabled. Dawn Barry, a former executive at San Diego genome … Continue reading “LunaDNA Offers Stock for Data in Bid to Build Research Database”
Membrion Gets $2.2M for Materials to Help Store Energy, Purify Water
[Updated 12/10/18 10:21 a.m. See below.] Inspiration can come from unlikely places—like the bottom of a bag of beef jerky, for instance. Membrion, a Seattle-based cleantech startup, recently raised $2.2 million in new funding to give the company a boost along the path to commercialization. It engineers flexible membranes using silica gel, the same material … Continue reading “Membrion Gets $2.2M for Materials to Help Store Energy, Purify Water”
Synthorx Gets $131M in Upsized IPO for Synthetic Biology Drugs
Synthorx, which is working to develop cancer and autoimmune therapies using technology that allows it to expand the genetic alphabet, raised $131 million in an upsized IPO on Thursday. The company sold more than 11.9 million shares at $11 apiece. Nearly 1.8 million additional shares are available for its underwriters to purchase. Synthorx, headed by … Continue reading “Synthorx Gets $131M in Upsized IPO for Synthetic Biology Drugs”
Bio Roundup: ASH Wrap, CRISPR Baby Fallout, Moderna’s Record IPO
The biggest yearly meeting for blood disease research has come and gone, and yet the stories to come out of the American Society of Hematology’s gathering in San Diego represent just a fraction of what happened in biopharma this week. Even if ASH wasn’t on your radar, the CRISPR baby saga—the apparent birth of gene … Continue reading “Bio Roundup: ASH Wrap, CRISPR Baby Fallout, Moderna’s Record IPO”
Boston Tech Watch: Endeavor, Building Ventures, LearnLux, ETQ, Cogito
[Updated 12/07/18, 10:30 a.m., and 12/10/18, 10:45. See below.] The spigot is still wide open for venture funding as cash continued to flow into Boston startups this week. Smart scooters and military robots rounded out the week in tech news. Read on for more: —IBM (NYSE: [[ticker:IBM]]) is dealing away two Massachusetts-founded enterprises it shelled out … Continue reading “Boston Tech Watch: Endeavor, Building Ventures, LearnLux, ETQ, Cogito”
As Unicorns Multiply, Bootstrapped Tech Businesses Holding Steady
[Corrected 12/11/18, 11:20 p.m. See below.] Why do unicorns get all the attention? Brian de Haaff wonders this sometimes, especially as compared to his own tech business, Aha. It’s not a “unicorn”—a business with a valuation of more than $1 billion—and it’s not even close. Instead, Aha is a bootstrapped startup. Founded in 2013 by … Continue reading “As Unicorns Multiply, Bootstrapped Tech Businesses Holding Steady”
Wisconsin Watchlist: Gravy, Semba, Steamchain, OnCourse, GenoPalate
[Updated 12/7/18, 3:42 pm. See below.] Time to catch up on recent headlines from Wisconsin’s innovation community: —Madison-based Gravy snagged the first investment from Rock River Capital Partners, which recently closed its debut fund. Rock River partner Andy Walker told Xconomy the venture funding round for Gravy totaled about $2 million. Other investors in the … Continue reading “Wisconsin Watchlist: Gravy, Semba, Steamchain, OnCourse, GenoPalate”
Moderna Raises $604M and Nails Down Biotech’s Biggest IPO Ever
One of the biggest gambles in the history of the life sciences industry made it to Wall Street this evening when Moderna, a developer of messenger RNA drugs—an unproven technology with enormous potential—priced the largest biotech IPO ever. Now, finally under the scrutiny of investors and analysts, Moderna must prove that its technology has enough … Continue reading “Moderna Raises $604M and Nails Down Biotech’s Biggest IPO Ever”
Aceable’s $47M Funding Round is Latest in Year of Big Austin Deals
Austin—Online training service Aceable landed the perhaps the biggest Austin startup headline of the week: The company announced a $47 million Series B funding round, one of the largest financings this year. Aceable was founded as a driver’s education platform for teens and other soon-to-be drivers, and has expanded the service to numerous states since … Continue reading “Aceable’s $47M Funding Round is Latest in Year of Big Austin Deals”
Google A.I. Fund Leads $7M Boost For Boston Route Logistics Startup
Google’s A.I.-focused fund Gradient Ventures has made its second Boston-area investment by leading a $7 million Series A round for autonomous dispatch and routing software startup Wise Systems. Wise was founded in 2014 by a group of MIT and Harvard graduates. The company says it uses machine learning to autonomously direct delivery operations by melding … Continue reading “Google A.I. Fund Leads $7M Boost For Boston Route Logistics Startup”
SuperNus ADHD Drug to Head to FDA, But Is It Better Than a Generic?
An experimental attention deficit hyperactivity drug developed by SuperNus Pharmaceuticals has met the main goals of two late-stage studies, bolstering the company’s case that it could provide an alternative to currently available ADHD therapies. But shares of the Rockville, MD-based company promptly fell on concerns of whether the drug is any better than a widely … Continue reading “SuperNus ADHD Drug to Head to FDA, But Is It Better Than a Generic?”
Forge AI Raises $11M to Crack Unstructured Data for Machine Learning
Forge AI, a Cambridge, MA-based startup aiming to decode the world’s mountains of unstructured data for machine learning algorithms, says it has raised $11 million in new funding. Jim Crowley, Jack Crowley, and Jennifer Lum founded Forge in 2017, and it’s kept relatively quiet in the time since. The company reads and digests unstructured data. … Continue reading “Forge AI Raises $11M to Crack Unstructured Data for Machine Learning”
Brii Bio’s Alliance with VBI Vaccines Adds Hepatitis B Drug to Pipeline
Brii Biosciences launched earlier this year with $260 million and a mission to find new medicines in infectious disease and other therapeutic areas and bring them to China. Today, the startup is announcing new partnerships that jump-start its pipeline, with an eye on potentially curing hepatitis B. Brii, co-founded by GlaxoSmithKline (NYSE: [[ticker:GSK]]) infectious disease … Continue reading “Brii Bio’s Alliance with VBI Vaccines Adds Hepatitis B Drug to Pipeline”
5 Reasons to Seek Geographic Diversity in a Venture Portfolio
Silicon Valley. New York City. Boston. Call them tech hubs or startup capitals, they are drawing in our nation’s venture capital dollars. But when it comes to new investments, venture capitalists can’t be so short-sighted. The opportunities beyond these markets may be richer than many realize. In July 2018, my venture capital firm, Alumni Ventures … Continue reading “5 Reasons to Seek Geographic Diversity in a Venture Portfolio”
Impel Raises $67.5M to Advance Intranasal Drugs for CNS Disorders
Impel NeuroPharma, which is developing technology to deliver certain therapeutics more effectively to the brain, says it has raised $67.5 million in new funding to support clinical trials of its drug candidates. Seattle-based Impel has three drug candidates currently undergoing clinical studies, all designed to treat a variety of central nervous system (CNS) diseases, including … Continue reading “Impel Raises $67.5M to Advance Intranasal Drugs for CNS Disorders”
Former Biotech VC Steven Burrill Draws 30-Month Prison Term for Fraud
G. Steven Burrill, once a noted biotech investment fund founder, sought-after conference speaker, and life sciences publisher, was sentenced Wednesday to serve 30 months in federal prison for defrauding his investors and evading taxes. Burrill was indicted by a federal grand jury on September 14, 2017. He was accused of diverting more than $18 million … Continue reading “Former Biotech VC Steven Burrill Draws 30-Month Prison Term for Fraud”
Diffbot’s A.I. Engine Draws Global Map of Machine Learning Expertise
A year ago, the leading Chinese Internet company Tencent Holdings pegged the global number of artificial intelligence researchers and professionals at 300,000 or less—just as the unmet demand for such experts was pushing salary offers to as much as $1 million. In February, the Canadian firm Element AI estimated that talent pool at no more than … Continue reading “Diffbot’s A.I. Engine Draws Global Map of Machine Learning Expertise”
Viracta, Neurelis & More: The Latest in San Diego Biotech
[Corrected 12/6/18, 2:32 p.m. See below.] Even as all eyes were on the American Society of Hematology (ASH) conference in downtown San Diego this week, other biotech companies were staying busy. Let’s get caught up with the latest life sciences news in San Diego. (Check out Xconomy’s ASH coverage here and here.) —Viracta Therapeutics has … Continue reading “Viracta, Neurelis & More: The Latest in San Diego Biotech”
OncoMed’s Saga Ends in Reverse Merger with UK-Based Mereo BioPharma
OncoMed Pharmaceuticals attracted hundreds of millions of dollars from investors and pharmaceutical partners with compounds it developed to target cells that drive cancer growth. But after a series of clinical trial stumbles and the dissolution of its drug development alliances over the last two years, OncoMed is now serving as a vehicle for a UK-based … Continue reading “OncoMed’s Saga Ends in Reverse Merger with UK-Based Mereo BioPharma”