[Update 11/27/18 8:34 p.m.] Following the publication of an Xconomy report that Shine Medical Technologies appeared to be on the verge of landing a nine-figure investment from Deerfield Management, the two companies said Tuesday that Deerfield will invest up to $150 million in Shine to support the construction of a radioisotope-manufacturing facility. [Story originally published … Continue reading “After Deal Stalled, Shine Medical Eyeing Up to $160M from Deerfield”
Category: National
As It Aims to Go Public, Seismic Taps Former ServiceNow Exec as CFO
Seismic, one of San Diego’s most prominent enterprise software companies, has tapped a member of the team behind one of the region’s most successful tech startup stories to prep for its own prospective market debut. The software developed by Seismic, part of the relatively new sales enablement industry, helps marketing and sales teams manage, automate … Continue reading “As It Aims to Go Public, Seismic Taps Former ServiceNow Exec as CFO”
FDA Halts Clinical Test of Zafgen Diabetes Drug, Stock Price Tumbles
The FDA has ordered Zafgen to suspend a mid-stage study testing its experimental diabetes drug, an apparent precautionary move. A clinical hold halts patient enrollment and also stops already enrolled patients from receiving the study drug due to a potential safety risk. No safety problems have been reported for the drug, ZGN-1061, so far. But … Continue reading “FDA Halts Clinical Test of Zafgen Diabetes Drug, Stock Price Tumbles”
After Head Injury Drug Fails, Edge Merges with Immuno-Oncology Firm PDS
An experimental head injury drug took Edge Therapeutics all the way to the public markets. But one failed clinical trial later and the company is now heading for the exits. Edge (NASDAQ: [[ticker:EDGE]]) this morning announced plans to merge with a privately held company, PDS Biotechnology of North Brunswick, NJ, that is developing a group … Continue reading “After Head Injury Drug Fails, Edge Merges with Immuno-Oncology Firm PDS”
Necessity Vs. Innovation-Based Entrepreneurs
What makes someone an entrepreneur? Most simply defined, an entrepreneur is a person who identifies a need and starts a business to fill that void. But others will argue that a “true” entrepreneur must come up with an innovative new product or service and then operates their business to sell and profit from that innovation. … Continue reading “Necessity Vs. Innovation-Based Entrepreneurs”
Robots and Tax Breaks: How Plus One Robotics Started in San Antonio
San Antonio—Toyota opened a large-scale manufacturing plant in San Antonio, TX, in 2006, where both humans and computer-controlled Yaskawa robots began to build Tundra and Tacoma trucks. Erik Nieves moved to San Antonio because someone had to install, program, and maintain those robots. Nieves was the man for the job: Not only was he originally … Continue reading “Robots and Tax Breaks: How Plus One Robotics Started in San Antonio”
ASH 2018: A Guide to the Latest for Blood-Borne Cancers and More
[Note: Ben Fidler co-authored this report.] This weekend, San Diego will host the annual American Society of Hematology conference, the largest U.S. medical gathering to get the latest on blood diseases, and a venue for updates on some of the most cutting-edge biotechnologies that only a few years ago seemed like science fiction. Using the … Continue reading “ASH 2018: A Guide to the Latest for Blood-Borne Cancers and More”
Diversity in Venture Capital: Scenes From Culture Shifting Weekend
While women and minorities make up 70 percent of the population, less than two percent of the tens of trillions of dollars in the asset management industry are entrusted to women or minorities. In recent years, gains have been made among women in venture capital. Diversity beyond gender, though, continues to lag. That’s part of … Continue reading “Diversity in Venture Capital: Scenes From Culture Shifting Weekend”
Formlabs Competitor DWS Sues in Latest 3D Printing Patent Fight
Italian 3D printing technology firm DWS Systems is suing Formlabs for infringing its stereolithography patent, marking the Somerville, MA-based company’s latest legal battle over the technology in its popular 3D printer models. DWS filed the counterclaim in U.S. District Court in Virginia in response to an earlier lawsuit by Formlabs to consolidate a slew of … Continue reading “Formlabs Competitor DWS Sues in Latest 3D Printing Patent Fight”
Michigan Mobility Challenge Awards Funding to Innovation Projects
The Michigan Mobility Challenge, a state grant program for innovative multi-modal transportation projects, has begun handing out money to grantees. From the $8 million in available funds, nine projects totaling $3.7 million have been awarded grants so far. Jean Ruestman, who administers the program for the Michigan Department of Transportation, says she’s thrilled with the … Continue reading “Michigan Mobility Challenge Awards Funding to Innovation Projects”
Immigrants Are Key to Winning the AI Arms Race
If we want to create jobs and economic opportunity here in the U.S., we’re going to need immigrants. Not only have they pioneered our country’s greatest achievements, bringing you everything from hot dogs to YouTube, but today they serve at the cutting edge of our foremost industries. Nowhere is this more true than in the … Continue reading “Immigrants Are Key to Winning the AI Arms Race”
Flatiron Health, Quentis, Rgenix & More at New York Biotech: How to Make It Here
We’re bringing the New York biotech community together once again on Tuesday, December 18 for our latest life sciences event—New York Biotech: How to Make it Here. At Riverpark at the Alexandria Center, leaders from Flatiron Health, Quentis Therapeutics, Rgenix, and the Partnership Fund for New York City will talk through how they’ve been trying … Continue reading “Flatiron Health, Quentis, Rgenix & More at New York Biotech: How to Make It Here”
Thanksgiving Pie, Brought to You By “Chuck” the Warehouse Robot
Robots may not have taken all of our jobs (yet), but they are already starting to nibble at our volunteer hours at holiday bake sales. And this one has a taste for pie. Chuck, the creation of Waltham, MA-based 6 River Systems, was sizing up Community Serving’s 26th annual Pie in the Sky bake sale … Continue reading “Thanksgiving Pie, Brought to You By “Chuck” the Warehouse Robot”
Cybersecurity Startup AttackIQ Hires New, Bay Area-Based CEO
Cybersecurity startup AttackIQ has appointed veteran tech executive Brett Galloway as its new CEO. AttackIQ said Galloway is taking over the role from Carl Wright, who has been named chief commercial officer. Wright was hired as chief revenue officer in August 2017. The company said he was named interim CEO in September of this year. … Continue reading “Cybersecurity Startup AttackIQ Hires New, Bay Area-Based CEO”
Silvergate Bank Files for IPO to Grow Cryptocurrency Services
Silvergate Bank has transformed itself in recent years from a typical business bank to one of the financial institutions of choice for digital currency companies. Now the cryptocurrency-friendly bank, which is headquartered in La Jolla, CA, is preparing to go public. On Tuesday it set a $50 million price target, according to documents filed with … Continue reading “Silvergate Bank Files for IPO to Grow Cryptocurrency Services”
Roundup: Accelerate Michigan, Waymark, ACM, Detroit FinTech Bay, More
The holiday season will soon be upon us, but that doesn’t mean work is slowing down in Michigan’s innovation hubs. Here’s a look at recent technology and entrepreneurship news from across the state. —The Accelerate Michigan Innovation Competition, hosted by Invest Detroit’s ID Ventures on Nov. 13, announced the 2018 winners selected from a field … Continue reading “Roundup: Accelerate Michigan, Waymark, ACM, Detroit FinTech Bay, More”
Startup Flightpath Finance Snags Seed Funding from Active Capital
San Antonio—Flightpath Finance, a startup that works with customers’ accounting software, has taken a $515,000 round of funding that was led by Active Capital and other San Antonio investors. Flightpath sells a service that tracks and forecasts revenue, cash, and expenses for businesses, integrating with its customers’ accounting software and other internal data. It’s a … Continue reading “Startup Flightpath Finance Snags Seed Funding from Active Capital”
PellePharm Inks $70M Deal with LEO Pharma for Skin Cancer Drug
PellePharm now has a partner to finance late-stage clinical tests of its experimental treatment for a rare skin cancer that has no FDA-approved drug treatment. Denmark-based LEO Pharma has agreed to pay $70 million to PellePharm for the biotech startup’s Phase 3 study of patidegib, a topical gel developed to prevent and treat Gorlin syndrome. … Continue reading “PellePharm Inks $70M Deal with LEO Pharma for Skin Cancer Drug”
How Blockchain Is Finding a Place at Your Thanksgiving Table
The food we buy in grocery stores and restaurants has a story to tell about where it came from and each step it took on its journey to your dinner table. Blockchain technology can help tell that tale. The story many food companies want to tell these days is about safety. Earlier this year, an … Continue reading “How Blockchain Is Finding a Place at Your Thanksgiving Table”
Uber Expands Its E-Bike Service, Jump, to 2 More West Coast Cities
Hundreds of red, “dockless” electronic bikes appeared on the streets of San Diego and Seattle on Monday, the latest cities in which Uber introduced its e-bike program, Jump. The expansion comes days after Uber began rolling out the bike-sharing service across Los Angeles. The San Francisco-based ride-hailing giant acquired Jump Bikes, a Brooklyn e-bike sharing … Continue reading “Uber Expands Its E-Bike Service, Jump, to 2 More West Coast Cities”
Agbio Startup Cibus Files for an IPO to Support Gene-Editing R&D
Cibus, which has developed a proprietary gene-editing technology that tweaks crops’ DNA to improve yield, is planning to make its public market debut. The San Diego-based biotech set a preliminary $100 million target for its IPO in documents filed with securities regulators Friday. That figure will change as the company determines how many shares it … Continue reading “Agbio Startup Cibus Files for an IPO to Support Gene-Editing R&D”
With $23M in Hand, Rock River Shifts from Fundraising to Investing
A young Wisconsin venture capital firm has raised more than $23 million for its first fund, and plans to soon begin drawing on the pool of money to back startups based in the state. Rock River Capital Partners said in a document filed with federal securities regulators last week that the size of its first … Continue reading “With $23M in Hand, Rock River Shifts from Fundraising to Investing”
TMCx, Microsoft Buys XOXCO, Self Lender Raises $10M & More TX Tech
Let’s catch up with the latest innovation news in Texas. —The Texas Medical Center’s accelerator TMCx graduated its seventh class of startups, 23 health IT companies which included nine international startups. Erik Halvorsen, director of the TMC Innovation Institute, said that in the four-month program, the startups had signed four agreements each, including strategic partnerships, … Continue reading “TMCx, Microsoft Buys XOXCO, Self Lender Raises $10M & More TX Tech”
Plant-Based Burger Maker Beyond Meat Cooks Up Plans for an IPO
We’ll soon find out if Wall Street has the appetite for investing in alternative meat technology. Beyond Meat, a maker of plant-based meat products, has filed for an IPO. The El Segundo, CA-based company set a preliminary target of $100 million for the stock offering, a figure that will likely change as the company moves … Continue reading “Plant-Based Burger Maker Beyond Meat Cooks Up Plans for an IPO”
X·CON 2018: Photos From Three Innovation Days in November
On November 4-6, Xconomy organized a meeting of the minds—an elite gathering of leaders in technology, business, healthcare, education, and energy—to discuss and demonstrate the key trends in their fields, heading into next year. Our expert speakers and attendees at X·CON 2018 tackled everything from the impact of artificial intelligence on enterprises to the emerging … Continue reading “X·CON 2018: Photos From Three Innovation Days in November”
Human Space Travel as a Platform to Accelerate Biomedical Innovation
A manned mission to Mars is slated for as early as 2024, but there are serious health risks that must be mitigated in order for such a mission to be successful. The most pressing risk identified by NASA is radiation exposure. Instead of stunting our spirit of exploration, there is an urgent need to develop effective radioprotection strategies to … Continue reading “Human Space Travel as a Platform to Accelerate Biomedical Innovation”
Wonolo Scores $32M to Expand Blue-Collar Gig Workers’ Marketplace
Wonolo, which runs a marketplace where companies can find fill-in staffers for jobs like stocking store shelves and warehouse chores, announced Monday that it raised $32 million in a Series C funding round led by Bain Capital Ventures. Bain Capital also invested this year in another tech startup focused on blue collar workers: UpKeep, which … Continue reading “Wonolo Scores $32M to Expand Blue-Collar Gig Workers’ Marketplace”
WI Watchlist: Gener8tor, FluGen, Sift Healthcare, Titan Spine
Before everyone tucks into turkey later this week, let’s catch up on some recent headlines from Wisconsin’s high-tech sectors: —Wisconsin-based Gener8tor, which runs a network of programs that train and invest in startups, continues to expand. Its latest offering is the OnRamp Insurance Accelerator, an insurance technology-focused program that will be located in the Minneapolis … Continue reading “WI Watchlist: Gener8tor, FluGen, Sift Healthcare, Titan Spine”
Connect Taps Tega Therapeutics CEO, Springboard Grad as Chairman
Connect, the longstanding nonprofit organization that runs one of San Diego’s best-known startup accelerator programs, said Thursday that Tega Therapeutics CEO Tim Scott will become chairman of its board of directors on Dec. 1. Scott has a long history with the organization. As part of the founding group that, in 1999, launched San Diego-based Internet … Continue reading “Connect Taps Tega Therapeutics CEO, Springboard Grad as Chairman”
Boston Tech Watch: Bento, MassChallenge, Apprenti, DUST, Chaossearch
[Updated 11/16/18, 2:15 pm. see below] Accelerators and apprenticeships, venture deals and partnerships. Here’s a roundup of Boston technology news bits from the week. Read on: —Nonprofit tech accelerator MassChallenge is toying with launching a for-profit entity to help alumni of the program “further accelerate their growth.” It’s unclear what form that entity might take, … Continue reading “Boston Tech Watch: Bento, MassChallenge, Apprenti, DUST, Chaossearch”
Bio Roundup: Moderna’s IPO, Arena’s Comeback, E-Cig Survey & More
Thanksgiving is around the corner and this week delivered a bounty of deals that have a number of life science companies expressing their thanks a little early. One deal saw a company land a whopping $800 million upfront for a rights to a drug still in clinical testing. Another biotech landed a $98 million investment … Continue reading “Bio Roundup: Moderna’s IPO, Arena’s Comeback, E-Cig Survey & More”
Silicon Valley Advisory: Make Talent Retention Personal
It took me by complete surprise. Here I was thinking we were on the same page, that we were doing some good things together and, despite some challenges, we made a pretty good team. So, when one of my brightest early talent employees walked into my office to tell me he was leaving, I asked … Continue reading “Silicon Valley Advisory: Make Talent Retention Personal”
Shyft Raises $6.5M for Staffing Tools Used by Workers and Employers
Shyft Technologies, a Seattle-based startup that has developed a software platform for retail and hospitality workers, and their employers, says it has raised $6.5 million in new funding to further develop its product. Two venture capital firms based in the Seattle area, Ignition Partners and Madrona Venture Group, led the Series A round, Shyft says. … Continue reading “Shyft Raises $6.5M for Staffing Tools Used by Workers and Employers”
Airspace Technologies Brings In $20M to Scale Its Logistics Business
[Updated 5:20 p.m. See below.] Having to wait for a package to arrive generally doesn’t result in severe consequences, besides perhaps a feeling of frustration. Some deliveries, however, are only useful if they arrive on time. Logistics startup Airspace Technologies says its software, developed specifically for time-sensitive shipments—donated organs slated for transplant and replacement parts … Continue reading “Airspace Technologies Brings In $20M to Scale Its Logistics Business”
Now With Siemens, Low-Code Firm Mendix Still Plotting Its Own Course
If you thought Siemens’ $730 million purchase of Boston-based business app developer Mendix would have locked the digital company’s focus onto the factory floor, CEO Derek Roos wants you to know you’re wrong. The reality, Roos claims, is that the Mendix deal is more about transforming Siemens. “Why would Siemens buy a horizontal, industry-agnostic cloud … Continue reading “Now With Siemens, Low-Code Firm Mendix Still Plotting Its Own Course”
Arena’s Comeback Continues with $800M Deal for Lung Disease Drug
[Updated, 11/15/18, 2:06 p.m. ET. See below.] Arena Pharmaceuticals continued its comeback Thursday, netting a whopping $800 million up front in a deal that hands United Therapeutics another experimental drug for the rare disorder pulmonary arterial hypertension (PAH). The deal gives United Therapeutics (NASDAQ: [[ticker:UTHR]]) worldwide rights to Arena’s (NASDAQ: [[ticker:ARNA]]) experimental drug ralinepag, which … Continue reading “Arena’s Comeback Continues with $800M Deal for Lung Disease Drug”
Innovative Approaches to Homelessness in Seattle
The Pacific Science Center has a new exhibit called “Block by BLOCK: Innovating from the Ground Up,” highlighting the BLOCK project, a unique approach to the homelessness crisis in Seattle. The organization builds small homes that are completely off-grid and self-sufficient, and designed with functional amenities for people experiencing homelessness. But what really sets the … Continue reading “Innovative Approaches to Homelessness in Seattle”
No HQ2? No Problem, Say Leaders in TX Cities Passed Over by Amazon
As word trickled out that North Texas was likely one of three finalists for Amazon’s “HQ2,” Chris Wallace felt optimistic about the region’s prospects. After all, the tech giant had said its priorities included a skilled workforce, logistics infrastructure, and a competitive cost of living. Wallace, who is the president and CEO of the North … Continue reading “No HQ2? No Problem, Say Leaders in TX Cities Passed Over by Amazon”
Nebula Genomics Touts Free DNA Sequencing to Coax Health Data Sharing
A growing number of startups are trying to encourage people to share genomic and other health data for research purposes by offering them some form of compensation. Now, as competition in this young sector ramps up, one of the big questions is what type of incentive will attract the most individuals. The latest experiment comes … Continue reading “Nebula Genomics Touts Free DNA Sequencing to Coax Health Data Sharing”
Data Starts Stretch Run for UniQure’s Upgraded Hemophilia Gene Therapy
The race to treat hemophilia with gene therapy, a one-time, long-lasting infusion, is entering its final stages. And with new data released this morning, Dutch and Lexington, MA, firm UniQure has finalized its plans to be among the top finishers. UniQure (NASDAQ: [[ticker:QURE]]) today disclosed preliminary results from a tiny mid-stage study of a gene … Continue reading “Data Starts Stretch Run for UniQure’s Upgraded Hemophilia Gene Therapy”
Cadent Pulls In $40M for Phase 2 Tests of Movement Disorder Drug
The shaking, tremors, and loss of muscle control in some movement disorders can be traced to misfiring neurons. Cadent Therapeutics has developed a drug intended to help those neurons send signals properly. The Cambridge, MA-based company now has $40 million in Series B funding to advance the drug into mid-stage human studies. The Cadent drug, … Continue reading “Cadent Pulls In $40M for Phase 2 Tests of Movement Disorder Drug”
Synthorx Files for IPO to Advance Enhanced Cytokine Drugs
Synthetic biology company Synthorx is laying plans for an initial public offering to raise money to advance its suite of enhanced cytokine drugs. The San Diego-based company says it wants to use the proceeds to put its lead product candidate, an investigational cancer therapy that’s based on the drug interleukin-2 (IL-2), through dose escalation and … Continue reading “Synthorx Files for IPO to Advance Enhanced Cytokine Drugs”
Boston’s Economy Urgently Needs Immigrants in Order to Thrive
I grew up in Guyana in the 1970s, where political turmoil gripped the country and water outages and power blackouts were frequent. When I was 11, our family came to America, and I remember being dazzled by the lights, the buildings, and the planes at New York’s Kennedy airport. Even an airport escalator amazed me … Continue reading “Boston’s Economy Urgently Needs Immigrants in Order to Thrive”
Celgene Doubles Down on Dragonfly, Pays $50M to Expand Cancer Pact
Celgene’s collaboration with Dragonfly Therapeutics is less than 18 months old, but the pharmaceutical company is already expanding the alliance. Celgene (NASDAQ: [[ticker:CELG]]) is paying Waltham, MA-based Dragonfly $50 million upfront to add four more drug targets to the four covered by the original partnership last year. Celgene has the option to license and further … Continue reading “Celgene Doubles Down on Dragonfly, Pays $50M to Expand Cancer Pact”
Bain Capital Ventures Nets $1B Funding to Fuel New Round of Tech Bets
Bain Capital Ventures has raised $1 billion to pour into technology companies large and small across a swath of industries, the largest single round of fundraising in the firm’s history. The cash includes a $650 million core fund—that’ll be aimed half at early stage startups and half at later-stage growth companies—as well as a $250 … Continue reading “Bain Capital Ventures Nets $1B Funding to Fuel New Round of Tech Bets”
Amazon Ends “HQ” Search, Pledges to Spend $5B on New Sites in NY, VA
The wait is finally over. Amazon said Tuesday it plans to significantly expand its presence in the New York City and Washington, DC, metropolitan areas beginning next year. The announcement was widely expected following news reports identifying the locales as likely winners of Amazon’s lengthy search process for an additional “headquarters,” as the company is … Continue reading “Amazon Ends “HQ” Search, Pledges to Spend $5B on New Sites in NY, VA”
Dallas Innovation Alliance, Funds for Austin Startups & More TX Tech
Let’s catch up on the latest innovation news in Texas. —Coder, a cloud-based software development startup out of Austin, announced it has raised $4.5 million in seed funding. The round was led by Uncork Capital and Redpoint Ventures, with participation from Founders Fund, Capital Factory, John Kodumal, Quinn Slack, Grant Gregory, Alec Guettel, David Rosenblatt, … Continue reading “Dallas Innovation Alliance, Funds for Austin Startups & More TX Tech”
JCI Simplifies Focus with $13.2B Sale of Car Battery Business
The transformation of Johnson Controls International continues. On Tuesday, the company said it reached a deal to sell its power solutions business, which makes a variety of vehicle batteries, in a cash transaction valued at $13.2 billion. The buyers are investment firm Brookfield Business Partners (NYSE: [[ticker:BBU]]) and a group of partners, including Canadian investment … Continue reading “JCI Simplifies Focus with $13.2B Sale of Car Battery Business”
GreatCall Expands Lyft Partnership to Pick Up Seniors Nationwide
GreatCall, the maker of the Jitterbug cellphone and other products and services for older adults, has extended its partnership with the San Francisco-based ride-hailing company Lyft to offer GreatCall customers the ability to schedule rides without a smartphone app. No financial terms were disclosed. The San Diego-based healthtech company said Tuesday it is rolling out … Continue reading “GreatCall Expands Lyft Partnership to Pick Up Seniors Nationwide”
ClearSky Data Raises Another $20M Amid Cloud Arms Race
[Updated 11/13/18, 12:05 pm, with executive comments throughout.] The data storage wars rage on. Boston-based primary data storage and backup provider ClearSky Data has raised $20 million in new funding to bring more customers aboard its “on-demand” hybrid cloud storage system. To date, ClearSky has taken in $59 million from investors. It shouldn’t be much … Continue reading “ClearSky Data Raises Another $20M Amid Cloud Arms Race”