Cells have a built-in way of breaking down damaged or unneeded proteins. Kymera Therapeutics is trying to harness this process as a therapy—using it to get rid of disease-causing proteins. As the biotech prepares to test its technology in humans, it has now raised $65 million in financing. The cellular process for disposing of proteins … Continue reading “Kymera Adds $65M in New Funding and Eyes First Clinical Test”
Category: National
CEOs and Scientific Founders: Tips for a Long and Successful Marriage
It seemed like the perfect match: A scientist founder from a top-tier academic institution; A technological innovation based on years and millions of dollars of federally-funded research in a university lab; And a successful entrepreneur and industry veteran named as the CEO of the startup that would take the work forward. But soon after the … Continue reading “CEOs and Scientific Founders: Tips for a Long and Successful Marriage”
Ribometrix Takes Aim at “Undruggable” RNA with $30M Series A Funding
Most drugs target proteins in the cell, but the world of RNA has remained largely untapped by companies making chemical-based, or small-molecule drugs. That’s changing though—just in the last couple of years, there’s been a mini-boom in biotechs trying to overturn the long-held dogma that messenger RNA molecules (which carry the genetic instructions for proteins … Continue reading “Ribometrix Takes Aim at “Undruggable” RNA with $30M Series A Funding”
Universal Robots Hires Former Rethink Robotics Workers After Closure
A little more than a month after Rethink Robotics shut down, a competitor has hired more than 20 of the Boston-based firm’s former employees. Universal Robots, a Denmark-based maker of collaborative industrial robots, announced Tuesday it has brought on key Rethink personnel, primarily in engineering and product development. The hires include former Rethink chief operating … Continue reading “Universal Robots Hires Former Rethink Robotics Workers After Closure”
Fluidity Founder, an M.D. and NASA Veteran, Designs One-Handed Drone Controller
Houston—Commercial drones are equipped with some of the latest innovations in cameras, sensors, and analytics, so Scott Parazynski wondered why pilots are still using outmoded controllers. “We’ve grown accustomed to these tools but decades later it’s the same [controller] model,” says Parazynski, founder of Fluidity Technologies. “It’s surprising to me that we haven’t evolved past … Continue reading “Fluidity Founder, an M.D. and NASA Veteran, Designs One-Handed Drone Controller”
Apptio Sells to PE Firm Vista Equity for $1.94B Two Years After IPO
Apptio is being taken private by investment firm Vista Equity Partners in a $1.94 billion acquisition. Founded in Bellevue, WA, in 2007, Apptio (NASDAQ: [[ticker:APTI]]) helps corporate leaders track and manage IT spending. The company went public in 2016 with a $96 million IPO, and has recently been acquiring other businesses. It bought FittedCloud, a … Continue reading “Apptio Sells to PE Firm Vista Equity for $1.94B Two Years After IPO”
Nuance Goes All-in on Speech Tech, Sells Document Business to Kofax
Nuance Communications is selling its document imaging division to Kofax for $400 million in cash, as Nuance’s new CEO narrows the company’s focus on its conversational artificial intelligence products and cloud-related technologies. Nuance’s (NASDAQ: [[ticker:NUAN]]) document imaging business provides enterprise software tools for securely capturing data from print or electronic documents, printing documents, and uploading … Continue reading “Nuance Goes All-in on Speech Tech, Sells Document Business to Kofax”
Qualtrics Skips IPO for $8B Sale to SAP
It’s hard to say no to $8 billion. Qualtrics, the enterprise software firm that was on the verge of going public, has pulled its IPO in favor of selling to German software giant SAP for $8 billion in cash. Qualtrics—which has dual headquarters in Provo, Utah (where it was founded in 2002), and Seattle—sells software … Continue reading “Qualtrics Skips IPO for $8B Sale to SAP”
Veritas, Elliott Strike $5.7B Deal for Athenahealth
[Updated 11/12/18, 10:31 am, with deal terms.] Athenahealth has reached an agreement to be bought for approximately $5.7 billion in cash by private equity firms Veritas Capital and Evergreen Coast Capital, an affiliate of activist hedge fund Elliott Management. The acquisition was announced Monday morning. Reuters first reported the deal Sunday and said an official announcement was … Continue reading “Veritas, Elliott Strike $5.7B Deal for Athenahealth”
After Accident, Sector67 Ramps Up Operations in Rehabbed Warehouse
When Chris Meyer was enveloped by a ball of fire in a construction accident and rushed to a Madison, WI, hospital 14 months ago, his loved ones and friends feared for his life. They also worried about the future of Sector67, the nonprofit collaborative workshop for technology development, product prototyping, and advanced manufacturing he founded … Continue reading “After Accident, Sector67 Ramps Up Operations in Rehabbed Warehouse”
Deeper Dive: Amarin Fish-Oil Study Gives Eager Doctors More to Ponder
Two months ago, the medical community was all abuzz over a big clinical study that showed a prescription fish-oil supplement could reduce the risk of heart disease. Today, a fuller look at the data presents a more nuanced picture. Doctors working on the REDUCE-IT trial, which enrolled more than 8,000 people, published the full set … Continue reading “Deeper Dive: Amarin Fish-Oil Study Gives Eager Doctors More to Ponder”
Salk Team Awarded 8-Year, $19.2M Grant for Alzheimer’s Research
A 10-person team of researchers at the Salk Institute for Biological Studies has been awarded an eight-year, $19.2 million grant to investigate mechanisms underlying Alzheimer’s disease and aging-related cognitive decline and uncover new therapies. The grant, announced Friday by the research institute in San Diego’s La Jolla community, is part of a $43 million initiative … Continue reading “Salk Team Awarded 8-Year, $19.2M Grant for Alzheimer’s Research”
Eyeing $500M, Moderna Outlines Plans for Biotech’s Biggest IPO Ever
One of the biggest gambles in biotech history is about to be tested on Wall Street. Moderna, the high-flying yet secretive developer of messenger RNA therapeutics, filed papers on Friday afternoon outlining its long-awaited IPO. In its prospectus, Moderna set an initial target of $500 million for the offering, which would make it the largest … Continue reading “Eyeing $500M, Moderna Outlines Plans for Biotech’s Biggest IPO Ever”
Boston Tech Watch: Neurala A.I., GE, MaxQ, Threat Stack, Bluefyre
Acquisitions, partnerships, and an FDA approval mark this week’s roundup in Boston technology news. Read on for more: —Boston University is adding artificial intelligence education to its electrical and computer engineering courses through a partnership with Boston A.I. company Neurala, to bridge a growing “skills gap” in the technology. Neurala is providing its A.I. education … Continue reading “Boston Tech Watch: Neurala A.I., GE, MaxQ, Threat Stack, Bluefyre”
Celsee Charts Expansion Plans as Single-Cell Analysis Demand Grows
The humble cell has been getting a lot of attention in the medical world lately, and Ann Arbor, MI-based biotech startup Celsee wants to make it easier to study them. As precision medicine and genomic analysis become more sophisticated, clinicians are taking biotech research down to the level of single cells in search of breakthroughs … Continue reading “Celsee Charts Expansion Plans as Single-Cell Analysis Demand Grows”
Bio Roundup: Midterm Fallout, Alzheimer’s Search, Postpartum Panel
There was plenty at stake in this week’s midterm elections, and not just in terms of political wins and losses. With congress now divided—Democrats took back control of the House and Republicans extended their majority in the Senate—the implications are significant for U.S. healthcare. Just a day after the results, for instance, Senate Majority Leader … Continue reading “Bio Roundup: Midterm Fallout, Alzheimer’s Search, Postpartum Panel”
WI Watchlist: Froedtert, Gener8tor, Fujifilm Cellular Dynamics, Exact
It’s been a busy week for Wisconsin’s innovation community, with entrepreneurship events taking place statewide for Startup Wisconsin Week (check out highlights on Twitter). Here are some of the other headlines from the past week: —Wauwatosa-based Froedtert Health, which runs a network of hospitals and clinics and is affiliated with the Medical College of Wisconsin, … Continue reading “WI Watchlist: Froedtert, Gener8tor, Fujifilm Cellular Dynamics, Exact”
Allogene, Cortexyme & RDMD Headline Xconomy’s Dec. 5 Biotech Forum
Each new technology has a story behind it. On Dec. 5, our Xchange Forum will offer a behind-the-scenes look at how some of them aim to transform healthcare. Xconomy’s San Francisco Biotech: The Next Generation, will feature three Bay Area companies, each of them tackling a different challenge in the life sciences. RDMD, for example, … Continue reading “Allogene, Cortexyme & RDMD Headline Xconomy’s Dec. 5 Biotech Forum”
Google’s Schmidt: 5 Years Before A.I. Is More Than Advisory Tool
Former Google CEO Eric Schmidt says the next five years of artificial intelligence and machine learning will be more like Apple’s Siri and Amazon’s Alexa than a self-driving sedan or a robo-surgeon taking out your appendix. “There are still significant errors, as you know, in machine learning systems that we tolerate. They are advisory,” Schmidt … Continue reading “Google’s Schmidt: 5 Years Before A.I. Is More Than Advisory Tool”
In Search of Names, Tech Startups Look to Galaxies Far, Far Away
All-seeing orbs, a distant planet and source of a life-giving drug, interstellar faster-than-light space travel, a carbon-freezing technique used to lock away enemies. The science fiction and fantasy creations—carbonite, palantir, Arrakis, warp drive—evoke the sort of futuristic vision that many startups dream to make a reality, or at least plumb for inspiration (and marketing). In … Continue reading “In Search of Names, Tech Startups Look to Galaxies Far, Far Away”
Nominations Open for San Diego’s Inaugural Xconomy Awards
Hundreds of companies. Dozens of research institutes. Billions of dollars in economic impact. San Diego is one of the top U.S. cities for innovation in life sciences and healthtech. Researchers and entrepreneurs here are leaders in developing the next generation of medicines and medical devices. In doing so, they are revealing new insights from our … Continue reading “Nominations Open for San Diego’s Inaugural Xconomy Awards”
Hold Your Horsepower: For Mobility Industry, “Reality Is Sinking In”
Earlier this month, GM CEO Mary Barra told the crowd at a financial conference that her company was on track to unveil a ridesharing service in 2019 that would be powered by autonomous vehicles. It sounded like pretty big news, but to understand company announcements about the commercial viability of driverless cars, one must first … Continue reading “Hold Your Horsepower: For Mobility Industry, “Reality Is Sinking In””
InCarda Breathes In $42M for Clinical Tests of Inhalable Heart Drug
Treatments for patients who have atrial fibrillation (AF), an irregular heartbeat, include pills that take time to work, or hospital-based procedures. InCarda Therapeutics aims to offer an alternative: a fast-acting inhalable drug that patients would take at home. The startup is moving ahead with mid-stage clinical testing of its drug and has raised $42 million … Continue reading “InCarda Breathes In $42M for Clinical Tests of Inhalable Heart Drug”
Boston’s Salsify Buys Austin Maker of E-Commerce Chat Tools
Salsify, a maker of e-commerce software, has acquired Welcome Commerce, an Austin-based developer of chat technology. Boston-based Salsify sells technology that helps retail brands like Michelin and Anheuser-Busch manage their products across e-commerce platforms such as Amazon (NASDAQ: [[ticker:AMZN]]), Walmart (NYSE: [[ticker:WMT]]), or Target (NYSE: [[ticker:TGT]]). Adding Welcome’s chat technology “is a logical extension” of that mission, … Continue reading “Boston’s Salsify Buys Austin Maker of E-Commerce Chat Tools”
Mirum Pharmaceuticals Launches with $120M to Advance Liver Drugs
Serial entrepreneur Mike Grey is launching a biotech enterprise with $120 million in new funding to advance two investigational liver disease drugs—one of which he has worked to develop before. Called Mirum Pharmaceuticals, the startup is developing a compound, maralixibat, to treat Alagille syndrome (ALGS) and progressive familial intrahepatic cholestasis (PFIC), genetic liver disorders that … Continue reading “Mirum Pharmaceuticals Launches with $120M to Advance Liver Drugs”
Democratic Startup Founders Kopser and Sawyer Lose in Election Bids
Two Texas startup founders who ran for seats in the U.S. Congress and the Texas statehouse lost their bids for political office Tuesday. Joseph Kopser in Austin and Allison Lami Sawyer in Houston were both first-time candidates and ran as Democrats, sparked by a concern about political discourse in the wake of the 2016 election. Both … Continue reading “Democratic Startup Founders Kopser and Sawyer Lose in Election Bids”
FDA Approves Elanco Cattle Drug, the First for Reducing Gas Emissions
A product that reduces emissions from farm animal waste? There’s now a drug for that. The FDA has approved an Elanco (NYSE: [[ticker:ELAN]]) drug developed to reduce the ammonia gas released from cattle manure. The agency says its Tuesday decision on the product, lubabegron (Experior), marks the first time it has approved a drug that … Continue reading “FDA Approves Elanco Cattle Drug, the First for Reducing Gas Emissions”
Rainwater Foundation Deploys Millions Toward Rare Brain Disease, PSP
Dallas — A foundation started by a Texas billionaire announced Tuesday it will offer millions of dollars in awards to scientists who research neurodegenerative diseases such as Alzheimer’s and progressive supranuclear palsy. The Rainwater Charitable Foundation, which was founded in the 1990s by billionaire investor Richard Rainwater, announced it will start to offer in 2019 an … Continue reading “Rainwater Foundation Deploys Millions Toward Rare Brain Disease, PSP”
Bashing Rival’s Pharma Record, Troubled Menendez Keeps NJ Senate Seat
Running a successful pharmaceutical business apparently isn’t a big selling point for New Jersey voters. The state voted today to re-elect Senator Bob Menendez, a Democrat, and cast aside his GOP challenger Bob Hugin, the former CEO of Celgene (NASDAQ: [[ticker:CELG]]), one of the world’s most valuable drug companies. As Election Day turned to Wednesday, … Continue reading “Bashing Rival’s Pharma Record, Troubled Menendez Keeps NJ Senate Seat”
Mitek Systems Appoints New CEO After Rejecting $380M Takeover Bid
Mitek Systems has appointed a new chief executive, the day after rejecting an $380 million takeover bid from Florida-based ASG Technologies. A letter ASG sent to Mitek’s board of directors last week proposing ASG acquire the San Diego-based company asserted Mitek was facing “significant operational uncertainty and risk” following news of the imminent departure of … Continue reading “Mitek Systems Appoints New CEO After Rejecting $380M Takeover Bid”
Mitek Systems Rejects ASG’s $380M Takeover Bid
Mitek Systems, which is being targeted for takeover by a subsidiary of Elliott, billionaire Paul Singer’s activist hedge fund, has unanimously rejected its $380 million offer. The Oct. 31 offer—rejected Monday—was made by ASG Technologies Group, a Florida-based software company that last year sold a controlling stake to Evergreen Coast Capital, Elliott’s Menlo Park, CA, … Continue reading “Mitek Systems Rejects ASG’s $380M Takeover Bid”
Amazon Reportedly Picks HQ2 City—and, in Surprise, Another for HQ3
Amazon is reportedly choosing two cities, not one, for its second headquarters, according to sources cited by The Wall Street Journal and The New York Times. Amazon (NASDAQ: [[ticker:AMZN]]) is working on a deal to move into both the Long Island City neighborhood of Queens in New York City and the Crystal City neighborhood of … Continue reading “Amazon Reportedly Picks HQ2 City—and, in Surprise, Another for HQ3”
ResMed to Add to Software Offerings with $750M MatrixCare Acquisition
Medical device maker ResMed has agreed to acquire Minnesota-based MatrixCare, which makes software for long-term care providers, for $750 million. San Diego’s ResMed (NYSE: [[ticker:RMD]]) announced its intention to buy the privately held tech company on Monday. The purchase price is 25 times MatrixCare’s pro forma 2018 earnings of about $30 million (without taking into … Continue reading “ResMed to Add to Software Offerings with $750M MatrixCare Acquisition”
Esperanto Reaps $58M to Speed Development of Its AI Chip
Esperanto Technologies, a startup AI chip developer that has operated mostly below the radar since its founding in 2014, announced this week that it raised $58 million in a Series B fundraising round. Mountain View, CA-based Esperanto is vying with a host of competitors to create new processors for high-order tasks like machine learning and … Continue reading “Esperanto Reaps $58M to Speed Development of Its AI Chip”
Eli Lilly Commits $40M to NextCure in Hunt for New Cancer Drugs
Eli Lilly hasn’t been shy about making deals to build up its cancer immunotherapy pipeline, and its latest one is with NextCure, a biotech with technology that finds molecular targets to drive an immune response to tumors. The Indianapolis pharmaceutical giant is paying privately held NextCure $25 million up front in the alliance, which was … Continue reading “Eli Lilly Commits $40M to NextCure in Hunt for New Cancer Drugs”
DriverReach Hopes to Move Trucking Industry Forward with Hiring App
Artificial intelligence and automation are helping legacy industries across the country become more innovative and efficient. An Indianapolis startup called DriverReach is doing just that for the trucking industry, where driver shortages have been plaguing logistics operations, says founder and CEO Jeremy Reymer. He started the company in 2016 to help trucking companies conquer the … Continue reading “DriverReach Hopes to Move Trucking Industry Forward with Hiring App”
Amgen Picks Provention to Continue Development of Celiac Disease Drug
For the second time in three years, Amgen is turning to a smaller biotech to continue clinical development of an experimental celiac disease drug that was developed in its labs. Under a deal announced Monday, Provention Bio (NASDAQ: [[ticker:PRVB]]) will license the Amgen (NASDAQ: [[ticker:AMGN]]) drug, AMG714, and test it in a mid-stage study. Amgen … Continue reading “Amgen Picks Provention to Continue Development of Celiac Disease Drug”
Broadcom to Sell Veracode for $950M After $19B CA Technologies Deal
Broadcom is selling application security testing business Veracode for $950 million to private equity firm Thoma Bravo. Broadcom gained Veracode as a part of its blockbuster acquisition of CA Technologies. Broadcom (NASDAQ: [[ticker:AVGO]]) announced in June it would acquire CA Technologies (NASDAQ: [[ticker:CA]]) for $18.9 billion, and announced today it has completed that deal. New … Continue reading “Broadcom to Sell Veracode for $950M After $19B CA Technologies Deal”
MEI Pharma Inks Cancer Drug Deal with Japan’s Kyowa Hakko Kirin
The second-most advanced investigational drug in MEI Pharma’s four-asset portfolio is drawing attention from overseas as a potential treatment for several leukemias and lymphomas. Japanese life sciences company Kyowa Hakko Kirin has agreed to pay the San Diego company $10 million upfront for rights to develop and commercialize ME-401 in Japan. The Japanese company will … Continue reading “MEI Pharma Inks Cancer Drug Deal with Japan’s Kyowa Hakko Kirin”
“Don’t Go Nuts With This”: Tech CEOs on What $100M Can Buy
So, your long-scrappy tech startup cashed a nine-figure check from a gaggle of venture capital types. What now? Launch a hiring spree? Land a beachhead in Europe? Squirrel some away for a rainy day? Build all the features into your gizmo that you always wanted (and promised to customers)? By our count, at least 14 … Continue reading ““Don’t Go Nuts With This”: Tech CEOs on What $100M Can Buy”
Win $2 Million to Solve Alzheimer’s: New Prize Will Reward Fresh Ideas
San Antonio — A Texas billionaire is funding a new competition that will give $4 million to seven individuals who present promising ideas about the cause of Alzheimer’s disease and say they’ll work to prove it. Called the Oskar Fischer Project, the program will give the grand prize winner $2 million of the total, while two … Continue reading “Win $2 Million to Solve Alzheimer’s: New Prize Will Reward Fresh Ideas”
HPE Gives $10M to UH for Joint Data Science Research Projects
The University of Houston and Hewlett Packard Enterprise on Friday announced a collaboration designed to enable advances in data science. The announcement includes a $10 million donation from the computing company to the university’s year-old Data Science Institute, which has been renamed to the Hewlett Packard Enterprise Data Science Institute. The donation will be used … Continue reading “HPE Gives $10M to UH for Joint Data Science Research Projects”
With FDA Panel’s Nod, First Postpartum Depression Drug Nears Approval
A panel of experts on Friday voted in favor of bringing what could be the first-ever drug approved specifically for postpartum depression to market. But should it get the expected green light from the FDA next month, how widely will the treatment, which requires a continuous, 60-hour intravenous infusion that a professional will have to … Continue reading “With FDA Panel’s Nod, First Postpartum Depression Drug Nears Approval”
Cloudbeds, a Hospitality Software Firm, Debuts New San Diego Office
Software startup Cloudbeds recently relocated its 20-odd local employees from a small space in downtown San Diego to an office nearly three times the size in the same neighborhood. The company unveiled the new digs Thursday, about a month after moving in, with a ceremonial ribbon cutting. The office in San Diego’s Bankers Hill area … Continue reading “Cloudbeds, a Hospitality Software Firm, Debuts New San Diego Office”
WI Watchlist: EatStreet, Exact Sciences, Northwestern Mutual & More
Time to catch up on some recent headlines from Wisconsin’s innovation community: —EatStreet, the Madison-based online food ordering and delivery startup, plans to expand its service to several additional Wisconsin cities and hire around 300 people in the Badger State, mostly delivery drivers, according to reports by the Wisconsin State Journal and other media outlets. … Continue reading “WI Watchlist: EatStreet, Exact Sciences, Northwestern Mutual & More”
Scale Computing Snags $34.8M to Advance “Alternative” IT Platform
Scale Computing, an Indianapolis IT startup serving smaller businesses, distributed enterprises, and retailers around the world, has raised $34.8 million in a Series F funding round. Co-founder and CEO Jeff Ready says technology hardware giant Lenovo was the largest contributor to the round, which included participation from Allos Ventures and unspecified “existing investors.” Since the … Continue reading “Scale Computing Snags $34.8M to Advance “Alternative” IT Platform”
Boston Tech Watch: CIC, Zylotech, Freebird, Mavrck, Sheprd
Venture funding rounds, a co-working center opening, and a shuttered ride-sharing service marked the Boston-area technology news this week. Read on for more. —Freebird, a Cambridge, MA-based flight re-booking service, brought in $8 million in new funds to accelerate growth in its main corporate travel market. The Series A investment was led by American Express … Continue reading “Boston Tech Watch: CIC, Zylotech, Freebird, Mavrck, Sheprd”
Bio Roundup: Depression Drug Dashed, Peek at ASH, CRISPR Worry & More
The gene-editing technology CRISPR-Cas9 is opening up new research avenues all the time, such as giving drug developers a cheaper, faster way to knock out genes in tumor cells. Studies of CRISPR-Cas9 to treat human disease are about to start, too. But will our immune systems, already on alert for common infections by the bacteria … Continue reading “Bio Roundup: Depression Drug Dashed, Peek at ASH, CRISPR Worry & More”
Scaleworks Sells Source Code Manager Assembla to Houston’s Idera
San Antonio—Scaleworks business Assembla has sold for an undisclosed price to Houston-based Idera, a company that owns various business-to-business, developer-focused software companies. San Antonio-based Assembla sells a service that helps developers access the code they use to build software, which is often stored in repository managers, such as Git, Perforce, and NextGen SVN. Assembla was … Continue reading “Scaleworks Sells Source Code Manager Assembla to Houston’s Idera”
Illumina Set to Acquire “Long-Read” DNA Sequencer PacBio for $1.2B
[Updated, 11/2/18, 11:09 a.m. ET. See below.] DNA sequencing giant Illumina is shoring up its position in genetic research through a cash deal to acquire Pacific Biosciences for approximately $1.2 billion. Under the agreement, Illumina (NASDAQ: [[ticker:ILMN]]) will pay $8 per Pacific Biosciences (NASDAQ: [[ticker:PACB]]) share, a 79 percent premium to the Wednesday closing stock … Continue reading “Illumina Set to Acquire “Long-Read” DNA Sequencer PacBio for $1.2B”