Recently, I was in Chicago for Paradigm IQ’s D&I Lab: Data-Driven Strategies to Attract & Hire Diverse Talent, a one-day workshop designed to equip attendees with new strategies for designing an inclusive organization. In a room full of people with titles like chief people officer, director of diversity and inclusion, and director of leadership and organizational … Continue reading “Lack of Diversity Isn’t a “Pipeline Problem,” It’s a Network Problem”
Category: National
Millendo Therapeutics Goes Public With OvaScience Reverse Merger
[Corrected 2:30 p.m. See below.] Millendo Therapeutics, an Ann Arbor, MI-based biotech company developing drugs to treat endocrine diseases, is now a public company and has $30 million of new cash to continue work on its treatments for rare disorders. Millendo announced this morning that it plans to merge with OvaScience (Nasdaq: [[ticker:OVAS]]), which was … Continue reading “Millendo Therapeutics Goes Public With OvaScience Reverse Merger”
ACM Report: AVs May be Less Disruptive to Trucking Jobs Than Expected
The advent of autonomous vehicles is expected to drastically change the transportation industry and affect those who work in it, but perhaps not as significantly as once thought, according to a new report commissioned by the American Center for Mobility. The study, which looked at potential impacts over the next decade, was funded by Waymo, … Continue reading “ACM Report: AVs May be Less Disruptive to Trucking Jobs Than Expected”
Inclusion in Labs, the C-Suite & More: Xconomy Awards Diversity Finalists
[Updated 8/20/18, 4:47 p.m. See below.] Efforts to boost diversity and inclusion at life science organizations are themselves becoming more diverse. A growing number of biotech companies are adjusting their recruitment and hiring practices to ensure that their employee rosters—from the lab to the boardroom—better reflect the diversity of society. But recruitment is just one … Continue reading “Inclusion in Labs, the C-Suite & More: Xconomy Awards Diversity Finalists”
Inari Agriculture Harvests $40M to Ramp Up Gene Editing R&D
Less than one month after emerging from stealth, ag biotech startup Inari Agriculture is unveiling $40 million in capital to accelerate its work on gene-editing for crop breeding. The Series B round of financing for Cambridge, MA-based Inari adds Acre Venture Partners and Alexandria Venture Investments as investors. Inari was founded in 2016 by venture … Continue reading “Inari Agriculture Harvests $40M to Ramp Up Gene Editing R&D”
Domino Data Lab Raises $40M To Manage Clients’ Predictive Models
[Updated 8/8/18, 4:40 pm. See below.] Domino Data Lab, which provides a test bed to aid in the development of predictive models, as well as tools to monitor models in use, announced today it has raised $40 million to grow its data science services and build partnerships. San Francisco-based Domino is an evangelist for the use … Continue reading “Domino Data Lab Raises $40M To Manage Clients’ Predictive Models”
Yesware Hauls In $15M and Replaces Founding CEO
It’s the end of an era for Yesware, an eight-year-old maker of e-mail software for salespeople. The Boston-based startup announced Wednesday that it brought in $15 million in venture capital, but the bigger news is that co-founder and CEO Matthew Bellows will be replaced by chief operating officer Joel Stevenson. Stevenson joined Yesware in March … Continue reading “Yesware Hauls In $15M and Replaces Founding CEO”
Paratek Eyes FDA Approval of Antibiotic After Advisory Panel Nod
An FDA advisory committee voted to recommend U.S. approval of Paratek Pharmaceuticals’ experimental antibiotic, omadacycline, both for the treatment of certain types of bacterial skin infections and hospital-acquired pneumonia. The independent advisory panel’s endorsement isn’t binding, but the FDA often follows the guidance of such committees. The FDA’s decision is expected in early October, Boston-based … Continue reading “Paratek Eyes FDA Approval of Antibiotic After Advisory Panel Nod”
CVS, Teladoc Offering $59 Virtual Health Visits for Minor Conditions
CVS Health on Wednesday introduced a new telemedicine service for people with minor illnesses and injuries, which the Rhode Island-based pharmacy giant says will allow patients in nine U.S. states and Washington, D.C., to pay $59 for an online videoconference with a licensed healthcare professional. CVS (NYSE: [[ticker:CVS]]), which bestrides the healthcare and retail industries, … Continue reading “CVS, Teladoc Offering $59 Virtual Health Visits for Minor Conditions”
Sigstr Launches Relationship Intelligence Platform for Corporate E-mail
Sigstr, the Indianapolis-based startup focused on surfacing the marketing potential of corporate e-mail, today announced its new relationship marketing platform called Sigstr Pulse. The platform uses artificial intelligence and algorithms to map and track the various, intersecting professional networks belonging to corporate employees to find out who has the best relationships with their customers. Sigstr … Continue reading “Sigstr Launches Relationship Intelligence Platform for Corporate E-mail”
SQZ Biotech Adds $72M as Cell Therapy Investment Keeps Burning Hot
SQZ Biotechnologies has landed its largest venture capital round yet: a $72 million Series C financing that the Watertown, MA-based company hopes can bring some of its experimental cell therapies into the clinic. SQZ has a technology that is able to squeeze cells (hence the company’s name) without killing them, enough to allow their membranes … Continue reading “SQZ Biotech Adds $72M as Cell Therapy Investment Keeps Burning Hot”
Creating Companies Before 35: Meet the Young Innovator Award Finalists
Entrepreneur, scientist, doctor, startup founder, CEO, and in some cases, all of the above. This year’s Young Innovator award finalists—all 35 and under—have shown that they can do it all to try to translate an idea into new treatments or digital tools for patients and healthcare providers. Here’s more on the finalists. The winner will … Continue reading “Creating Companies Before 35: Meet the Young Innovator Award Finalists”
With Big Takeda Deal at Launch, Can Ambys Keep Control of Its Future?
A new biotech has debuted today aiming to make a variety of treatments for deadly liver diseases. The startup, Ambys Medicines, has formed an unusual, broad alliance with Takeda. Some early, wide-ranging partnerships between new biotechs and Big Pharma have fallen apart in the past and have been too limiting for the biotech, but Ambys’s … Continue reading “With Big Takeda Deal at Launch, Can Ambys Keep Control of Its Future?”
Austin’s Factom Eyes Series B After $6M SAFE Deal With LSE Investor
Austin—Blockchain record-tracking company Factom is taking a $6 million investment from an investment company that’s traded on a submarket of the London Stock Exchange. FastForward Innovations announced it created what’s known as a Simple Agreement for Future Equity (sometimes called a SAFE note) to invest the $6 million in Factom, which was founded in Austin … Continue reading “Austin’s Factom Eyes Series B After $6M SAFE Deal With LSE Investor”
Another $100M Boosts Valuation of Boston’s Actifio to $1.3B
[Updated 8/21/18, 2:13 pm. See below.] Actifio, a Waltham, MA-based data management startup that for years downplayed its development despite being worth hundreds of millions of dollars, has added another $100 million round of funding that brings its valuation to more than $1.3 billion, the company announced today. The investment included nearly $59 million in … Continue reading “Another $100M Boosts Valuation of Boston’s Actifio to $1.3B”
Digital Alloys Adds $12.9M From VCs, Boeing for Metal 3D Printing
Metal-making 3D printer company Digital Alloys has raised a $12.9 million Series B round of funding from venture investors and businesses that hope to benefit from the company’s manufacturing technology. The new investment was led by G20 Ventures, while Boeing HorizonX Ventures, Lincoln Electric, and Khosla Ventures also participated. (Khosla led Digital Alloys’ $5 million … Continue reading “Digital Alloys Adds $12.9M From VCs, Boeing for Metal 3D Printing”
New Faces, Big Impact: Meet the Finalists For Xconomy’s Newcomer Award
Being a newcomer can mean a few different things: being new to the area (or newly back after being away) or new to an industry. The finalists for Xconomy’s Newcomer Award this year cover these definitions. One is a serial biotech entrepreneur who has now made an impact in multiple cities, most recently Boston. Another … Continue reading “New Faces, Big Impact: Meet the Finalists For Xconomy’s Newcomer Award”
Salsify Grabs $43M to Help Brands Navigate Amazon & E-Commerce
In the online shopping age, it can be difficult for businesses to keep all of their product information updated and relevant to potential customers. Boston-based startup Salsify has spent several years helping brands manage their product content across Amazon (NASDAQ: [[ticker:AMZN]]), Google (NASDAQ: [[ticker:GOOGL]]) ads, the websites of brick-and-mortar retailers, and other digital marketplaces. Salsify … Continue reading “Salsify Grabs $43M to Help Brands Navigate Amazon & E-Commerce”
Now Hear This: Akouos Secures $50M for Hearing Loss Gene Therapy R&D
Hearing loss for many people is hereditary—a mutation in a single gene impairs hearing from birth. There are no approved drugs for this type of hearing loss, but biotech startup Akouos is developing a gene therapy to help patients recover the ability to hear. Boston-based Akouos says it has secured a $50 million financial commitment … Continue reading “Now Hear This: Akouos Secures $50M for Hearing Loss Gene Therapy R&D”
Bird Takes Scooters Off Milwaukee Streets, Agrees to Work With City
Five weeks after Bird put a fleet of about 100 motorized scooters in Milwaukee, the company says it’s pulling the vehicles off of the city’s streets until a framework is established allowing them to operate legally there. The City of Milwaukee and Santa Monica, CA-based Bird on Monday issued a joint news release saying Bird … Continue reading “Bird Takes Scooters Off Milwaukee Streets, Agrees to Work With City”
Blockchain Tomatoes & Edible Peels: Startups Innovate to Fight Spoilage
As much as 40 percent of food in this country is never eaten, yet 41 million people don’t have enough to eat, including 13 million children, according to the Natural Resources Defense Council and the U.S. Department of Agriculture. Some of that food insecurity is due to food spoilage, rendering billions of dollars’ worth of … Continue reading “Blockchain Tomatoes & Edible Peels: Startups Innovate to Fight Spoilage”
Bluebird, Regeneron Team Up To Make Cell Therapies For Cancer
Regeneron Pharmaceuticals and Bluebird Bio have struck a wide-ranging partnership to broaden the reach of their respective cancer immunotherapy work, inking a deal to develop multiple cell therapies together. Regeneron (NASDAQ: [[ticker:REGN]]) develops antibody drugs, while Bluebird (NASDAQ: [[ticker:BLUE]]) is a gene and cell therapy specialist. In the deal, the two companies will work together … Continue reading “Bluebird, Regeneron Team Up To Make Cell Therapies For Cancer”
The Technology Behind Fighting California’s Fires & Other Disasters
As wildfires continued to burn across the length of California this month, Gov. Jerry Brown urged residents to stay on the alert and warned that the cost of fighting the climate-driven blazes will continue to strain future state budgets. Residents of the three Northern California counties hardest hit by wildfires last year have already learned … Continue reading “The Technology Behind Fighting California’s Fires & Other Disasters”
Elanco’s IPO Would Free Eli Lilly to Focus on Pharmaceuticals
Elanco, the animal health business of Eli Lilly, has filed for an IPO, setting in motion the process of splitting from its parent company of more than 60 years. Greenfield, IN-based Elanco set a preliminary $100 million target in the IPO filing, a figure used to calculate the registration fee. IPO research firm Renaissance Capital … Continue reading “Elanco’s IPO Would Free Eli Lilly to Focus on Pharmaceuticals”
Exact Sciences, Harley, Frontdesk & More: This Week’s WI Watchlist
Catch up on news from Wisconsin innovation’s community with these recent headlines: —Exact Sciences said Wednesday that it completed a lower number of its flagship diagnostic test, which screens patients for colorectal cancer, during the three-month period ended June 30 than it had projected previously. The announcement sent shares in the Madison-based company lower in … Continue reading “Exact Sciences, Harley, Frontdesk & More: This Week’s WI Watchlist”
With Etsy Wholesale Offline, Stockabl Aims to Fill Gap For Makers
Houston—While studying for her PhD in biomedical sciences, Adrianne Stone took up jewelry-making as a stress reliever and side hustle, and sold her wares on Etsy Wholesale. But late last year, Stone says, she began to notice bugs on the site and a lack of response from Etsy (NASDAQ: [[ticker:ETSY]]) about those issues. That prompted … Continue reading “With Etsy Wholesale Offline, Stockabl Aims to Fill Gap For Makers”
Bio Roundup: Alnylam’s Moment, Read on Rebates, Skinny Plans & More
Millions of people might be on vacation as we hit the dog days, but drug makers and politicians aren’t taking a break from the gamesmanship over high drug prices. After two years of blowing smoke, the Trump administration is threatening action on a few fronts, including against the powerful middlemen known as PBMs that decide … Continue reading “Bio Roundup: Alnylam’s Moment, Read on Rebates, Skinny Plans & More”
Patients Have “Fingers Crossed” As Alnylam Awaits Historic FDA Decision
[Updated, 8/6/18, see below] By next weekend, the FDA could for the first time approve a medicine that uses a biological trick that was only discovered two decades ago: RNA interference, which silences a gene before it can make a harmful protein. That medicine is patisiran (Onpattro), from Alnylam Pharmaceuticals (NASDAQ: [[ticker:ALNY]]). An approval wouldn’t … Continue reading “Patients Have “Fingers Crossed” As Alnylam Awaits Historic FDA Decision”
Boston Tech Watch: Noncompetes, Markforged, Mimecast & More
[Updated 8/3/18, 12:27 pm. See below.] Here are some of the latest headlines from the Boston-area tech sector: —The Massachusetts Legislature passed an economic development bill that includes some limits to employee noncompete contracts, the Boston Globe reported. The bill prohibits noncompetes for hourly workers and interns; shortens the allowable length of the noncompete period … Continue reading “Boston Tech Watch: Noncompetes, Markforged, Mimecast & More”
Vicis, With New Funding, Targets Tech for Safer Football Helmets
A new generation of football helmet technology, designed with the specific aim of limiting life-threatening brain trauma, appears to be seeping into mainstream use. One company, Seattle-based Vicis, appears to have added tens of millions of dollars to help propel it in this field. Vicis reported a $53.2 million equity funding round, some of which … Continue reading “Vicis, With New Funding, Targets Tech for Safer Football Helmets”
Zafgen Exec Thomas Hughes Resigns to Take CEO Job at Navitor
Thomas Hughes is leaving Zafgen, which he led for nine years, in order to take the top job at another biotech company. The job change comes 10 months after Hughes resigned as CEO of Zafgen (NASDAQ: [[ticker:ZFGN]]) and took on a new role as the Boston company’s president and chief scientific officer. Zafgen announced Hughes’ … Continue reading “Zafgen Exec Thomas Hughes Resigns to Take CEO Job at Navitor”
HealthMyne, Developer of Health Records Analytics Software, Adds $15M
HealthMyne, a Madison, WI-based startup developing software that integrates medical imaging data and information from patients’ electronic health records, says it has raised $15 million in new funding. Ascension Ventures, an investment arm of the St. Louis-based healthcare provider Ascension, led the Series B funding round, HealthMyne says. Other participants included two Madison-based VC Funds … Continue reading “HealthMyne, Developer of Health Records Analytics Software, Adds $15M”
Arm Snaps Up Treasure Data To Complete IoT Device-To-Data Platform
[Corrected 8/3/18, 5:22 pm. See below.] Leading chipmaker and designer Arm announced today it is acquiring Silicon Valley data management company Treasure Data to complete a comprehensive platform to help customers efficiently extract and analyze data from Internet of Things devices. Cambridge, UK-based Arm, which was acquired by SoftBank for $32 billion in 2016, unveiled its … Continue reading “Arm Snaps Up Treasure Data To Complete IoT Device-To-Data Platform”
After Threats, Austin Founder Shut Browser Firm Authenticated Reality
Austin—When Authenticated Reality launched last year, it seemed that the company had struck gold in terms of market demand and fit. The Austin-based startup had developed a Web browser that would require users to prove they are who they say they are. Users would have to sign up for an account—scanning their driver’s license and … Continue reading “After Threats, Austin Founder Shut Browser Firm Authenticated Reality”
Cisco Plans to Buy Michigan Unicorn Duo Security for $2.35 Billion
Duo Security is set to be acquired by Cisco in a blockbuster deal worth about $2.35 billion. The purchase will bring San Jose, CA-based Cisco (NASDAQ: [[ticker:CSCO]])—which sells a variety of IT hardware, digital products, and services—a software-as-a-service security tool used to authenticate a user’s access to things like software, networks, and devices. The company … Continue reading “Cisco Plans to Buy Michigan Unicorn Duo Security for $2.35 Billion”
PureTech Health’s Karuna Snags $42M Series A for Schizophrenia Drug
[Updated August 3, 9:00am ET, see note below.] With $42 million in new investment, Karuna Pharmaceuticals, a PureTech Health company based in Boston, now has the funds to test in a Phase 2 clinical trial a drug for a disease where many have previously failed: schizophrenia. Karuna’s lead candidate, KarXT, is a combination of two … Continue reading “PureTech Health’s Karuna Snags $42M Series A for Schizophrenia Drug”
Boeing, Aurora to Move Into R&D Space in Kendall Square Via MIT Initiative
Aerospace giant Boeing has agreed to lease 100,000 square feet in an MIT-owned space in the heart of Kendall Square. The Boeing Aerospace & Autonomy Center, at 314 Main Street in Cambridge, MA, is slated to open by the end of 2020 and will focus on autonomous aircraft and related technologies. Financial terms of the … Continue reading “Boeing, Aurora to Move Into R&D Space in Kendall Square Via MIT Initiative”
Siemens Scoops Up Mendix for $730M to Boost Digital Capabilities
[Updated 8/2/18, 9:11 am. See below.] Mendix, one of the long-standing players in the business app development sector, is being snapped up by Siemens for 628 million euros, or about $730 million, according to a spokesperson. [Updated price.—Eds.] The German industrial conglomerate will pay cash to acquire Boston-based Mendix, and it also plans to invest … Continue reading “Siemens Scoops Up Mendix for $730M to Boost Digital Capabilities”
3D Printing “Unicorn” Formlabs Grabs $15M, Ex-GE CEO Joins Board
Here’s an idea for the next figurine Formlabs should make with one of its 3D printers: a unicorn. Today, the MIT Media Lab spinout announced it received a $15 million investment from New Enterprise Associates (NEA), bringing the seven-year-old company’s venture capital haul to more than $100 million. Formlabs says its latest cash infusion puts … Continue reading “3D Printing “Unicorn” Formlabs Grabs $15M, Ex-GE CEO Joins Board”
Going Against the Grain: Meet the Xconomy Contrarian Award Finalists
Our profiles of the finalists for this year’s Xconomy Awards roll on today with a look at the nominees for the Contrarian award. These finalists have been nominated for different reasons. One, for instance, may have paved the way for gene therapies to be commercially adopted in the U.S., by being the first insurer to … Continue reading “Going Against the Grain: Meet the Xconomy Contrarian Award Finalists”
Startup Jesus: Notre Dame Launched a Record 27 New Companies in 2017
[Update, 8/3/18, 8:29 a.m., see below.] Between July 2017 and July 2018, the University of Notre Dame launched 27 student and faculty startups, which is an accomplishment on its own. But when you consider that before 2017, the school had previously launched a total of 33 startups over the course of its entire 175-year history, … Continue reading “Startup Jesus: Notre Dame Launched a Record 27 New Companies in 2017”
DocuSign Agrees to Acquire Chicago Software Maker SpringCM for $220M
DocuSign plans to acquire Chicago-based contract software maker SpringCM for $220 million, the companies announced today, about three months after the San Francisco-based online document signature business raised $629 million in an initial public offering. With SpringCM, DocuSign (NASDAQ: [[ticker:DOCU]]) says it is adding new features to its current capabilities, such as preparing and generating … Continue reading “DocuSign Agrees to Acquire Chicago Software Maker SpringCM for $220M”
DreamBox, an Edtech Startup with High-Profile Backers, Snags $130M
[Updated 5:35 p.m. See below.] DreamBox Learning, an edtech company that makes programs that help kids learn math, has agreed to take a $130 million investment from a fund managed by private equity firm TPG Growth. The Rise Fund, which is deploying $2 billion in financing raised by TPG last year, is taking a majority … Continue reading “DreamBox, an Edtech Startup with High-Profile Backers, Snags $130M”
Verana Health Lands $30M Financing Led By GV, Adds Miki Kapoor as CEO
Verana Health, a company that analyzes electronic health record data for insights useful in developing new drugs and medical devices, has raised $30 million in financing. GV, the venture arm of Google’s parent company, Alphabet (NASDAQ: [[ticker:GOOGL]]), led the Series C round of investment in the San Francisco company. Verana was formerly known as DigiSight. … Continue reading “Verana Health Lands $30M Financing Led By GV, Adds Miki Kapoor as CEO”
San Antonio Military Researchers to Receive Life Science Group Award
San Antonio — Two former military healthcare researchers in San Antonio will receive awards for their work from a life sciences group that promotes the local industry. Alan Peterson, who is developing methods of preventing, detecting, and treating post-traumatic stress disorder (PTSD), is receiving the BioMed SA Award for Innovation in Healthcare and Bioscience. BioMed SA … Continue reading “San Antonio Military Researchers to Receive Life Science Group Award”
For Women Only: E-Retail Subscription Firm Athena Club Raises $3.8M
[Updated 7/31/18 7:46 am. The story and headline has been changed to reflect an updated amount.] Athena Club, a subscription program for feminine hygiene products, is the latest entrant into the direct-to-women e-commerce space and announced today that it has raised $3.8 million in funding. Co-founder Maria Markina says her New York-based startup gives women … Continue reading “For Women Only: E-Retail Subscription Firm Athena Club Raises $3.8M”
Pernix-Backed Biz Picks Up Orexigen’s Weight Loss Drug for $74M
Orexigen Therapeutics went bankrupt trying to turn its weight loss pill, Contrave, into a commercial success. Now Pernix Therapeutics will try its luck. Pernix (NASDAQ: [[ticker:PTX]]) said Monday that a business entity it helped create, Nalpropion Pharmaceuticals, has closed a deal for Contrave. Morristown, NJ-based Pernix formed Nalpropion to bid on Contrave, which Orexigen auctioned … Continue reading “Pernix-Backed Biz Picks Up Orexigen’s Weight Loss Drug for $74M”
Sam’s Club, Sunroom, and Funds for Revtech and Kony in TX Tech News
Let’s get caught up with the latest innovation news from Xconomy Texas. —Sam’s Club, the bulk retailer owned by Walmart (NYSE: [[ticker:WMT]]), has brought on about 100 tech employees to work at a new office in Dallas, according to The Dallas Morning News. The newspaper reported that the new office is working on a new … Continue reading “Sam’s Club, Sunroom, and Funds for Revtech and Kony in TX Tech News”
Precision Tinkering of Cells, Genes & Microbes: The Big Idea Finalists
Biology research has gotten so precise these days that scientists barely bat an eye when they talk about their ability to study the genome of individual cells or swap out single “letters” in DNA. So it’s probably no surprise that ultra-precise ways of measuring and manipulating cells, molecules and microbes have found their way into … Continue reading “Precision Tinkering of Cells, Genes & Microbes: The Big Idea Finalists”
Ideawake’s Collaboration Tools Help Companies Identify, Solve Issues
In 1974, Arthur Fry, then a scientist at 3M, heard about a new type of glue his colleague Spencer Silver was developing. The adhesive was strong enough to make two things stick together, but weak enough for them to be easily pulled apart. As the story goes, Fry had been using small paper scraps to … Continue reading “Ideawake’s Collaboration Tools Help Companies Identify, Solve Issues”