In some ways, the biggest software acquisition of all time could be a yawner. IBM’s planned $34 billion deal to acquire open-source software maker Red Hat is a hefty price to pay to give its cloud computing business a shot in the arm. But even if the purchase ultimately boosts IBM’s bottom line, some cloud … Continue reading “Cloud Leaders Shrug at IBM’s $34B Red Hat Deal”
Category: National
Alkermes Depression Drug Faces Long Odds After FDA Advisors Say No
An FDA advisory panel Thursday panned a new experimental drug for depression from Alkermes, meaning the agency is likely to reject the treatment by early next year. By a 21 to 2 vote, the 23 experts decided that the data accrued by Alkermes (NASDAQ: [[ticker:ALKS]]) don’t support approval of the drug, currently known as ALKS-5461. … Continue reading “Alkermes Depression Drug Faces Long Odds After FDA Advisors Say No”
No Excuses: Austin Startup Leaders Pledge to Support Voter Turnout
As Election Day nears, a group of Austin startup leaders have formed a group to encourage tech employees to vote. The ATX Startup Pledge’s mission is to “remove obstacles” that might exist, like feeling that you can’t take time away from work, that could prevent employees from going to the polls on Tuesday. But, more … Continue reading “No Excuses: Austin Startup Leaders Pledge to Support Voter Turnout”
Sanofi Pledges $125M to Denali in Pact for Neuro, Inflammation Drugs
Sanofi sees potential in two early-stage Denali Therapeutics drugs as a way to reduce inflammation in the brain and throughout the body, and the two companies are teaming up to develop the compounds for tough-to-treat diseases including Alzheimer’s. Under the deal, Sanofi (NYSE: [[ticker:SNY]]) will pay Denali (NASDAQ: [[ticker:DNLI]]) $125 million up front. South San … Continue reading “Sanofi Pledges $125M to Denali in Pact for Neuro, Inflammation Drugs”
Small Businesses Need Digital Support, Not More Bureaucracy
It is well-known that Massachusetts is home to some of the most innovative technology firms in the country. Our state’s pro-innovation, pro-entrepreneur environment has been carefully crafted and protected through public policy, enviable access to private investment, and arguably the strongest tech talent pipeline in the country. Though proposals for stricter oversight of technology firms … Continue reading “Small Businesses Need Digital Support, Not More Bureaucracy”
Nurse Staffing Startup Gets $10.8M as Personnel Ratios Hit MA Ballot
IntelyCare, a Massachusetts-based nurse-staffing platform for long-term care, assisted living, and rehabilitation facilities, has raised $10.8 million from venture investors, less than a week before voters weigh in on a new state mandate hospital for patient-to-nurse ratios. San Francisco firm Leerink Revelation Partners led the Series A funding round and was joined by Longmeadow Capital, … Continue reading “Nurse Staffing Startup Gets $10.8M as Personnel Ratios Hit MA Ballot”
IRobot’s Roombas to Map Households for Google Smart Homes
Autonomous vehicle developers rely heavily on navigational technology that maps the complex terrain of roads, curbs, signs, and people that their cars have to thread through. Google, as it develops its smart home systems, is turning to a company that already knows how to navigate the terrain of a household—corridors, kitchens, cat beds, cast-off shoes, … Continue reading “IRobot’s Roombas to Map Households for Google Smart Homes”
To Boost Cancer Pipeline, Gilead Bets at Least $50M on Startup Tango
Gilead Sciences is paying tiny Tango Therapeutics $50 million to tap into the startup’s cancer drug program, adding to what has been so far an expensive, but not yet lucrative, foray into cancer immunotherapy for Gilead. Cambridge, MA-based Tango is still in the early phases of looking for cancer drugs by exploiting a well-known tumor … Continue reading “To Boost Cancer Pipeline, Gilead Bets at Least $50M on Startup Tango”
Twist Bioscience IPO Hauls In $70M for DNA Synthesis Technology
Synthetic biology company Twist Bioscience has joined the long list of life science firms going public this year, raising $70 million in its stock market debut. The San Francisco company sold 5 million shares at $14 apiece, which was within the $14 to $16 per share range it had targeted. After those shares started trading … Continue reading “Twist Bioscience IPO Hauls In $70M for DNA Synthesis Technology”
Teraki Using Edge Processing to Meet Exploding Data Demands of AVs
Teraki, a Berlin-based data processing and artificial intelligence company working in the mobility sector, has had a busy fall. In late September, Teraki raised a $3 million seed round from investors including Paladin Capital Group, GPS Ventures GmbH, and Deutsche Telekom’s hub:raum incubator. Earlier this month, the company announced its software would get its first commercial deployment in microcontrollers … Continue reading “Teraki Using Edge Processing to Meet Exploding Data Demands of AVs”
Sam’s Club Goes Digital, BNSF’s Electric Locomotive, & More TX Tech
Let’s get caught up with the latest innovation news from Texas. —The Texas Medical Center’s TMCx accelerator has been included in a list of best programs for the first time. With platinum status, AngelPad, StartX, and Y Combinator topped the list released by the Seed Accelerator Rankings Project. The rankings, which are in part compiled by … Continue reading “Sam’s Club Goes Digital, BNSF’s Electric Locomotive, & More TX Tech”
Moonshots, Tough Tech, and Not Falling in Love With Your Robot
Before researchers at Google’s skunkworks labs embark on a new project, they decide when to kill it. The technical and business teams set parameters for when to walk away from the “moonshot” idea to avoid being so seduced by the technology that they forget about the underlying problem it aimed to solve. “It becomes less … Continue reading “Moonshots, Tough Tech, and Not Falling in Love With Your Robot”
Orchard, Fueled by GSK’s Ex-Gene Therapy Biz, Nets $200M in IPO
GlaxoSmithKline’s former gene therapy portfolio is at the center of a $200 million IPO, among the larger biopharma offerings on Wall Street over the last several years. Orchard Therapeutics, a London, Boston, and San Francisco-based biotech, sold 14,285,715 shares in its IPO late Tuesday at $14 apiece, raising just over $200 million before discounts due … Continue reading “Orchard, Fueled by GSK’s Ex-Gene Therapy Biz, Nets $200M in IPO”
Facebook’s 3Q Growth Suffices to Stave Off Another Stock Dive
Facebook (NASDAQ: [[ticker:FB]]) shares gained nearly 3 percent Tuesday, and ticked up further in after-hours trading following the release of a third quarter earnings report that showed some strengths as well as shortfalls. Investors have been concerned about the social media giant’s slowing growth rate in a year when it has been under scrutiny for … Continue reading “Facebook’s 3Q Growth Suffices to Stave Off Another Stock Dive”
MR3 Health Takes Aim at Foot Ulcers as San Antonio Tackles Diabetes
San Antonio — Researchers, advocates, and residents in San Antonio have been seeking out ways to handle the growing problem of diabetes in San Antonio and the surrounding Bexar County, which saw the rate of adults with the condition increase to 14.2 percent in 2014 from 11.4 percent two years earlier. Both are higher than the … Continue reading “MR3 Health Takes Aim at Foot Ulcers as San Antonio Tackles Diabetes”
Fundraising Startup Classy Surpasses $1B Raised on Its Platform
It took six years for Classy, a software-as-a-service company that targets nonprofit organizations looking to fundraise online, to facilitate $500 million in donations. But the next $500 million took just 14 months. The San Diego-based startup announced the $1 billion milestone on Tuesday, citing the addition to its platform of ever-larger nonprofits—including the Salvation Army—as … Continue reading “Fundraising Startup Classy Surpasses $1B Raised on Its Platform”
A.I., Cybersecurity & the Changing Face of VC at X·CON Next Week
Bob Brennan has some pretty interesting lessons from his time working with Veracode and CloudHealth Technologies. Those are two of the bigger Boston tech exits in the past few years—the companies were acquired by CA Technologies and VMware, respectively. Brennan, the former CEO of Veracode and Iron Mountain, and former board member of CloudHealth, will … Continue reading “A.I., Cybersecurity & the Changing Face of VC at X·CON Next Week”
FDA Blasts Data, Trial Design For Alkermes Depression Drug
The FDA this morning has issued a scathing review of an experimental drug that could be, if the agency ends up approving it next year, a new option for the millions of Americans who struggle with depression and don’t respond to typical treatment. The drug is known as ALKS-5461, from Dublin and Waltham, MA-based Alkermes … Continue reading “FDA Blasts Data, Trial Design For Alkermes Depression Drug”
Stantt CEO Thinks Its Approach to Selling Men’s Wear Fits Just Right
Stantt wants to make standard sizing anything but. “Traditional sizing only fits 15 percent of guys,” says Matt Hornbuckle, the startup’s founder and co-CEO. “Twins come in and get different sizes.” To connect guys with a shirt that fits well, the men’s wear startup created a database of “tens of thousands” of body scans. That … Continue reading “Stantt CEO Thinks Its Approach to Selling Men’s Wear Fits Just Right”
As Midterms Approach, Notarize Lends a Hand to Absentee Voters in SD
The idea started with online complaints from voters in South Dakota, where applications for absentee ballots require the certification of a notary public. The response from Pat Kinsel, founder and CEO of a Boston-based online notary startup aptly named Notarize, was to offer its services for free—the same deal it made last year to hurricane-battered … Continue reading “As Midterms Approach, Notarize Lends a Hand to Absentee Voters in SD”
Pre-Existing Immunity to CRISPR Found in 96% of People in Study
[Updated October 30, 12:15pm ET with further comment, see below.] The immune systems of a large majority of people could already be primed to attack and possibly even disable a key component of CRISPR-Cas9 gene editing therapeutics (which are quickly moving towards their first human tests), suggests new research published today. If this finding sounds … Continue reading “Pre-Existing Immunity to CRISPR Found in 96% of People in Study”
No Pipeline Problem: Backstage Capital’s Detroit Plans Spark Excitement
In September, Backstage Capital, a venture investment firm seeding early-stage startups led by women, people of color, and members of the LGBTQ community, launched a $36 million fund to help support black women founders. At the same time, managing partner Arlan Hamilton said the Los Angeles-based firm would run accelerators in four cities: London, Philadelphia, … Continue reading “No Pipeline Problem: Backstage Capital’s Detroit Plans Spark Excitement”
IBM Buying Red Hat in $34B Mega-Deal to Beat Amazon, Google in Cloud
[Updated 10/29/18, 12:53 pm, with executives’ comments.] IBM has agreed to buy open-source software maker Red Hat in a $34 billion bet aimed at helping it win the cloud computing war against Amazon, Microsoft, and Google. It’s one of the largest-ever U.S. tech acquisitions—the $67 billion Dell-EMC deal holds the top spot. Armonk, NY-based IBM … Continue reading “IBM Buying Red Hat in $34B Mega-Deal to Beat Amazon, Google in Cloud”
Free of Baggage, Dicerna Cuts Another RNAi Deal and Gets $200M
It wasn’t too long ago that pharma companies were abandoning the development of RNA interference medicines. But there are some small signs that interest has been rekindled. And Dicerna Pharmaceuticals, which recently ended a long-running legal spat with the field’s leader, Alnylam Pharmaceuticals, is reaping the rewards. This morning Eli Lilly (NYSE: [[ticker:LLY]]) teamed with … Continue reading “Free of Baggage, Dicerna Cuts Another RNAi Deal and Gets $200M”
Cuida Health Launches Voice-Based ‘Social Wellness’ App for Seniors
Lisa doesn’t interrupt. She doesn’t mind long pauses between responses. And she has a sense of humor. Oh – and, she’s virtual. San Diego startup Cuida Health, a recent graduate of the Connect Springboard accelerator program, this week launched its first product: a voice-activated “social wellness” app for seniors. For the past four months, about … Continue reading “Cuida Health Launches Voice-Based ‘Social Wellness’ App for Seniors”
Pineapples and Bananas: Yummy to Eat, And Now Fashionable to Wear
Style trends may come and go but the apparel industry is increasingly accepting that sustainability will always be in fashion. “We have the chance to shift the environment to a cleaner, more non-toxic place,” says Greg Altman, co-founder and CEO of Silk, a Boston-area maker of a proprietary liquid silk. “That’s really our goal.” To … Continue reading “Pineapples and Bananas: Yummy to Eat, And Now Fashionable to Wear”
Boston Tech Watch: Scooter Regs, Threat Stack, iRobot, Teikametrics
Cybersecurity layoffs, higher import tariffs on robotic vacuum cleaners, funding deals, and a push for e-scooter regulations make up the pulse of technology news this week in Boston. Read on for more. —A bill proposed in the Massachusetts State House would apply the same regulatory system that oversees ride-hailing app businesses such as Uber and … Continue reading “Boston Tech Watch: Scooter Regs, Threat Stack, iRobot, Teikametrics”
U.K. Slaps Maximum Fine of $645,000 on Facebook for Privacy Violations
The U.K.’s data privacy regulator fined Facebook $645,000 for violations that allowed political marketing firm Cambridge Analytica and other outside companies to extract 87 million Facebook profiles worldwide without adequate user knowledge or consent. The purpose of the U.K.’s enforcement actions is to change the behavior of organizations that mishandle the sensitive private information of … Continue reading “U.K. Slaps Maximum Fine of $645,000 on Facebook for Privacy Violations”
Bio Roundup: Alzheimer’s Puzzle, ESMO Assessed, Drug Prices & More
In the biotech investment and research communities this week, much of the attention was turned to Europe. Munich, Germany, hosted the annual conference of the European Society for Medical Oncology, where cancer drug developers unveiled the latest clinical data for experimental immunotherapies and drugs that treat the disease based on a tumor’s genetic signature. Also … Continue reading “Bio Roundup: Alzheimer’s Puzzle, ESMO Assessed, Drug Prices & More”
Startup Developing Opioid Alternative Takes Top ‘Quick Pitch’ Honors
The winner of the largest-ever startup pitch contest in San Diego is aiming to solve a problem that is weighing heavily on the national consciousness. The same day President Trump signed a bipartisan package of measures to address the opioid epidemic, San Diego startup NeuraLace Medical won $50,000 on Wednesday at the annual John G. … Continue reading “Startup Developing Opioid Alternative Takes Top ‘Quick Pitch’ Honors”
Trump Plan Ties Medicare Drug Prices to Cheaper Foreign Ones
[Updated 5:41pm ET with analyst note, see below.] When the Trump administration announced its blueprint for lowering prescription drug prices in May, many observers said it was too soft on the biopharma industry and didn’t contain concrete initiatives that could truly cut costs. But with the U.S. midterm elections fast approaching and the high cost … Continue reading “Trump Plan Ties Medicare Drug Prices to Cheaper Foreign Ones”
Fresh Data Add More Confusion to Eisai-Biogen Alzheimer’s Drug
Three months after controversial data suggested an Alzheimer’s drug could slow the mental decline of the disease, the drug’s owners tried to bolster their argument today that the good news over the summer was not a statistical illusion. The drug in question is dubbed BAN2401, and it’s being co-developed by Biogen (NASDAQ: [[ticker:BIIB]]) of Cambridge, … Continue reading “Fresh Data Add More Confusion to Eisai-Biogen Alzheimer’s Drug”
89Bio Joins NASH Chase with a Teva Drug and $60M in Funding
[Corrected 10/25/18, 5:26 p.m. See below.] The competition to develop a treatment for nonalcoholic steatohepatitis, a serious liver disorder, has another player. 89Bio launched Thursday with $60 million in financing and a lead compound originally developed by Teva Pharmaceutical. [Paragraph updated to correct dollar amount.] San Francisco-based 89Bio says that it has acquired a pipeline of … Continue reading “89Bio Joins NASH Chase with a Teva Drug and $60M in Funding”
Delivery Robots in Big D, Rodriguez Leaves the Station, & More TX Tech
[Updated 2:05 p.m. See below.] Let’s catch up with the latest innovation news in Texas. —Dallas-based Neos Therapeutics (NASDAQ: [[ticker:NEOS]]) has licensed a drug candidate that would treat excessive salivation or drooling in patients with neurological conditions such as cerebral palsy, Parkinson’s disease, amyotrophic lateral sclerosis, and mental disorders. The experimental drug has only preclinical … Continue reading “Delivery Robots in Big D, Rodriguez Leaves the Station, & More TX Tech”
Still Seeking Pharma Partner, Phoenix Bio Adds $1M in Angel Funding
San Antonio — Phoenix Biotechnology, which has been developing an experimental plant-based drug for cancer for more than a decade, has added about $1 million in new funding, according to a securities filing and the company’s top scientist. The San Antonio-based biotech is using the money to continue research and operations for developing its cancer drug, … Continue reading “Still Seeking Pharma Partner, Phoenix Bio Adds $1M in Angel Funding”
Robots, A.I., and Cybersecurity Hit X·CON at Google on Nov. 6
Leaders across the robotics and artificial intelligence industries are coming together on the last day of X·CON, Xconomy’s newest interactive event focusing on technology and transformation. The full conference is happening November 4-6 across three innovation venues in Kendall Square and Boston’s Seaport District. Join us for a special morning program focusing on robotics, artificial … Continue reading “Robots, A.I., and Cybersecurity Hit X·CON at Google on Nov. 6”
Pursuing a “Crazy, Stupid” Idea & Photos From Disruptors in Boston
Michael Gilman was so close to retiring two years ago. His company, Padlock Therapeutics, was just acquired by Bristol-Myers Squibb (NYSE: [[ticker:BMY]]), and he was on his last week on the job. But at a board meeting, he saw an old friend, Jennifer Petter—then Russ Petter—and asked, what are you working on these days? Petter, … Continue reading “Pursuing a “Crazy, Stupid” Idea & Photos From Disruptors in Boston”
Vertex Hums Along as AbbVie Snatches Up a Rival’s CF Drugs for $45M
AbbVie has just reworked a long-running deal with partner Galapagos NV, paying $45 million up front—a small sum for the pharmaceutical giant—to gain rights to all of the Belgian company’s experimental cystic fibrosis drugs. The deal changes the competitive landscape for cystic fibrosis, a field currently dominated by Boston-based Vertex Pharmaceuticals (NASDAQ: [[ticker:VRTX]]). AbbVie (NYSE: … Continue reading “Vertex Hums Along as AbbVie Snatches Up a Rival’s CF Drugs for $45M”
Berkeley’s SkyDeck Offers Chip Design Support Worth Millions to Startups
The current land rush in chip development, spurred as new technologies such as artificial intelligence create new needs, is pitting established semiconductor companies like Intel and Nvidia against tech titans like Facebook that are building their own chips. A wave of next-generation chip companies has also entered the fray. So how much room remains for … Continue reading “Berkeley’s SkyDeck Offers Chip Design Support Worth Millions to Startups”
In E-Commerce Marketing Race, Privy Aims to Democratize Online Tools
The push by Boston e-commerce tech startup Privy to become a marketing Swiss army knife for online merchants has fueled a new $4.25 million funding round for the company. The money will be used to double its headcount and help it move into more spacious digs from its current scrappy office quarters. Founder and CEO … Continue reading “In E-Commerce Marketing Race, Privy Aims to Democratize Online Tools”
Amgen Slashes Cholesterol Drug Price 60% to Match Rival Regeneron
[Updated, 10/25/18, 12:15 a.m. See below.] Amgen is cutting the list price of its new cholesterol-lowering drug by nearly 60 percent, a move the company says is intended to make the product more affordable for more patients. The move is a shot across the bow of Regeneron Pharmaceuticals (NASDAQ: [[ticker:REGN]]]). The Tarrytown, NY firm recently … Continue reading “Amgen Slashes Cholesterol Drug Price 60% to Match Rival Regeneron”
Ford Mobility News: Self-Driving Car Tests in DC, Avis App Deal
Ford made a couple of announcements this week regarding mobility and its efforts to get self-driving cars on the road. According to a blog post published Monday by Sherif Marakby, CEO of Ford’s autonomous vehicle division, the automaker will expand testing of driverless cars to Washington, DC. “Not only do self-driving vehicles need to operate … Continue reading “Ford Mobility News: Self-Driving Car Tests in DC, Avis App Deal”
Machine Learning Firm DataRobot Gets $100M to Automate Data Science
Boston startup DataRobot wrapped up a new $100 million funding round, injecting more cash into what was already one of the region’s biggest bets on machine learning and artificial intelligence. Palo Alto, CA-based venture firms Meritech and Sapphire Ventures led the Series D investment, with DFJ Growth, New Enterprise Associates, and IA Ventures also participating … Continue reading “Machine Learning Firm DataRobot Gets $100M to Automate Data Science”
Medisafe to Get Paid For Health App’s Performance
More technology startups are embracing the healthcare industry’s increasing willingness to pay for products based on how much they improve health. One of the latest examples comes from Medisafe, a Boston company that has developed an app-based system intended to help patients manage their medications. The company offers both a free and a paid version … Continue reading “Medisafe to Get Paid For Health App’s Performance”
Eyeing Foxconn, Manufacturing Gig Platform FactoryFix Expands in WI
Foxconn’s planned $10 billion electronic display factory in southeastern Wisconsin could be a boon for local workers vying for the potential 13,000 jobs. The facility could also be a headache for other area manufacturers, possibly sparking a heated competition for engineers, electricians, machinists, and other skilled laborers. The talent war could also spell opportunity for … Continue reading “Eyeing Foxconn, Manufacturing Gig Platform FactoryFix Expands in WI”
U-M Reports 2018 Rise in Inventions, Licensing, and Startups
Every fall, the University of Michigan formally celebrates the inventions and companies spun out of the school’s research and development efforts. This year, there was a lot to celebrate: according to U-M, a record number of 21 startups were launched during the 2018 fiscal year ending June 30, nearly doubling the previous year’s number. U-M … Continue reading “U-M Reports 2018 Rise in Inventions, Licensing, and Startups”
Blockchain Startup Algorand Bags $62M, Hires Fuze & LogMeIn Execs
[Updated 2/22/19, 2:14 pm ET. See below.] The blockchain and cryptocurrency industry has produced a lot of hype, but it is still working to deliver practical applications that are widely used by businesses. One of the startups trying to change that, Boston-based Algorand, said today it has scooped up $62 million in venture funding from … Continue reading “Blockchain Startup Algorand Bags $62M, Hires Fuze & LogMeIn Execs”
HerdX Adds $5M for IoT System To Help Farmers Track Livestock
San Antonio—A San Antonio tech startup that sells Internet-connected tags and other tools to monitor the health and whereabouts of herds of animals has raised $5 million in a new round of funding, according to a securities filing. HerdX says that farmers will be able to use the data gathered from the Internet-connected devices to … Continue reading “HerdX Adds $5M for IoT System To Help Farmers Track Livestock”
NeoGenomics Buys Ex-Novartis Cancer Lab Genoptix for $125M, Stock
Cancer testing laboratory Genoptix is being acquired by NeoGenomics, another cancer-focused genetic testing business, for $125 million in cash and 1 million NeoGenomics shares. The buyout comes almost two years after Carlsbad, CA-based Genoptix was bought from Novartis (NYSE: [[ticker:NVS]]) by a pair of private investment firms, Ampersand Capital Partners and 1315 Capital, and a … Continue reading “NeoGenomics Buys Ex-Novartis Cancer Lab Genoptix for $125M, Stock”
Baubles & Bling: Swoonery Uses Tech to Connect Shoppers With Jewelry
Jean Poh’s family has been in the jewelry business for four generations. And, for the most part, the industry has operated much the same as it always has, she says. Following a professional detour in which she worked as an attorney and angel investor, Poh made her way back to the jewelry business. She began … Continue reading “Baubles & Bling: Swoonery Uses Tech to Connect Shoppers With Jewelry”