Stay current on news from Wisconsin’s innovation community with these recent headlines: —Fiserv Forum: That’s the newly unveiled name of the arena the NBA’s Milwaukee Bucks will play at when the league’s season begins in September. The arena’s namesake is Fiserv (NYSE: [[ticker:FISV]]), a company headquartered in the Milwaukee suburb of Brookfield that provides banks, … Continue reading “Fiserv, Comply365, Open Data & More: This Week’s Wisconsin Watchlist”
Category: National
10 Must-Read Stories From Xconomy (and Elsewhere) This Week
Ah, Friday: The gateway to a relaxing weekend. If you’re reading this, it’s likely you’re starting your Friday off the right way with some casual reading. Here’s a peek at some of the fine work Xconomy editors have put out in the last week—and a few from other publications, too, that are very interesting reads. … Continue reading “10 Must-Read Stories From Xconomy (and Elsewhere) This Week”
Bio Roundup: An Alzheimer’s Head-Scratcher, OUTBio, GSK & Gilead Shakeups
The devil is in the details, and key clinical trial results made that abundantly clear this week. Eisai and partner Biogen released the highly anticipated details of an Alzheimer’s disease study they had already deemed positive, after an initial failure. In one sense, the study was the success they have claimed. A high dose of … Continue reading “Bio Roundup: An Alzheimer’s Head-Scratcher, OUTBio, GSK & Gilead Shakeups “
As Work Evolves, Kelly Services Funds Startups to Tap New Ideas
Many so-called legacy companies are hungry for new sources of innovation as technological advances transform their industries. One way corporations are drawing new ideas into the fold is through the establishment of venture investing arms. Troy, MI-based Kelly Services, which was founded in 1946, has contributed to the growth of the temporary worker industry over … Continue reading “As Work Evolves, Kelly Services Funds Startups to Tap New Ideas”
Boston Tech Watch: SessionM, Salesforce, Facebook, Squadle & More
It’s time to catch up on a flurry of recent Boston-area tech headlines: —SessionM, a seller of marketing automation and customer loyalty software, said it grabbed $23.8 million in venture funding from previous backers. The round was led by Salesforce Ventures, with contributions from Causeway Media Partners, CRV, General Atlantic, Highland Capital Partners, and Kleiner … Continue reading “Boston Tech Watch: SessionM, Salesforce, Facebook, Squadle & More”
Achaogen Restructures, Slashes Staff 28% as Antibiotic Launches
[Story updated 7/27/18, 7:07 p.m. EDT. See below.] The runup to a new drug launch is usually a time for hiring, but as Achaogen commercializes its new drug, the antibiotics developer is doing just the opposite. Faced with a tough market for antibacterial products, Achaogen (NASDAQ: [[ticker:AKAO]]) announced Thursday that it will eliminate 80 positions, … Continue reading “Achaogen Restructures, Slashes Staff 28% as Antibiotic Launches”
Flywire Tracks Down $100M as Global Payments Race Heats Up
Investors continue to cut big checks to global payments startups. The latest to cash in is Flywire, which announced Thursday it raised a $100 million Series D funding round led by Singapore-based Temasek. Flywire has now hauled in a total of $144 million from investors, a spokeswoman said. Other investors in the Series D round … Continue reading “Flywire Tracks Down $100M as Global Payments Race Heats Up”
With $76M Second Fund, Root Ventures Investing in Hardware, Automation
Startups often struggle to attract their first funding from venture capital firms. But some of those VC firms are startups themselves, hoping to draw investors willing to trust their judgment so they can back young companies that take off. Avidan Ross, a former industrial robot designer and financial firm CTO, was the solo founder of … Continue reading “With $76M Second Fund, Root Ventures Investing in Hardware, Automation”
Qualcomm’s Ends Two-Year, $44B Bid for NXP After No Word from China
Qualcomm finally ended its almost two-year bid to acquire Dutch semiconductor maker NXP for as much as $44 billion last night, after it didn’t receive word from Chinese regulators about whether the deal, which was subject to global regulations, would gain approval. Instead, San Diego-based Qualcomm said it plans to repurchase $30 billion of shareholder … Continue reading “Qualcomm’s Ends Two-Year, $44B Bid for NXP After No Word from China”
Former Zulily Employees Announce Digital Ad Platform New Engen
A group of Seattle entrepreneurs, who worked at flash sale site Zulily before it sold for $2.4 billion in 2015, are announcing a new company that has been developing a technology to help advertisers figure out where to efficiently buy digital ads. Called New Engen, the company was founded in 2016 by CEO David Atchison … Continue reading “Former Zulily Employees Announce Digital Ad Platform New Engen”
OUTBio, a Biopharma LGBTQ Group, Grows Fast & Ponders Its Future
In June, Jennifer Petter, the founder and chief scientific officer of biotech startup Arrakis Therapeutics, got an e-mail from a stranger. His name was Ramsey Johnson, a biotech veteran who works in clinical operations at Boston startup Phoenix Tissue Repair. Johnson was writing about OUTBio, a networking organization for LGBTQ members of the biopharma community. … Continue reading “OUTBio, a Biopharma LGBTQ Group, Grows Fast & Ponders Its Future”
Eisai & Biogen Reveal Promising Alzheimer’s Data, But Questions Linger
Data from six additional months of treatment with an experimental drug for Alzheimer’s disease were enough to turn a failed mid-stage clinical trial into a possible success. On Wednesday, the Japanese pharmaceutical company Eisai and its U.S.-based partner, Biogen, explained how, providing details that point to ways that their drug, unlike many before it, might … Continue reading “Eisai & Biogen Reveal Promising Alzheimer’s Data, But Questions Linger”
VelocityTX, EPIcenter Complete First San Antonio Pre-Incubator Group
San Antonio—[Corrected 7/26/18, 2:06 p.m. See below.] A “pre-incubator” program launched earlier this year by two organizations seeking to stimulate startup activity in San Antonio has graduated its first group of companies. The program aims to help the early stage businesses test out the viability of their ideas for new products and services, and determine … Continue reading “VelocityTX, EPIcenter Complete First San Antonio Pre-Incubator Group”
LevelUp’s Winding Path Pays Off With $390M Sale to Grubhub
LevelUp is the latest startup story to end in an acquisition. The company has gone through several transformations since it was founded a decade ago, eventually landing on mobile payments processing, customer loyalty programs, and data analytics tools for restaurants. Its journey ultimately led to Grubhub: the online food-ordering and delivery giant announced Wednesday it … Continue reading “LevelUp’s Winding Path Pays Off With $390M Sale to Grubhub”
Moonrise, New Service for Gig Workers, Shares Chicago Pilot Results
[Updated 7/27/18 9:44 a.m. See below.] American Family Insurance on Wednesday made public new details on Moonrise, a startup spun out by the insurer that has developed technology allowing people looking to make extra money to sign up for shifts at businesses near where they live. This year, Moonrise has been conducting a pilot of … Continue reading “Moonrise, New Service for Gig Workers, Shares Chicago Pilot Results”
Ford’s AV Update, GM’s Peer-to-Peer Ridesharing, & More Auto News
The “Big Three” Detroit-area automakers have all been making headlines this week. Ford shared more details on its autonomous vehicle division, GM announced a peer-to-peer ridesharing program, and the automotive world lost a key figure who’s been credited with saving Chrysler after the Great Recession. Read on for more details. —Sergio Marchionne, former CEO of … Continue reading “Ford’s AV Update, GM’s Peer-to-Peer Ridesharing, & More Auto News”
Soil Health Startup Cool Planet Adds $20M for New Manufacturing Site
Cool Planet, an agricultural technology startup focused on improving the quality of soil, has raised an additional $20.3 million to finance construction of a manufacturing facility. Greenwood Village, CO-based Cool Planet said the new capital is an extension of the company’s 2017 $19.3 million Series A round of investment. The latest capital infusion was led … Continue reading “Soil Health Startup Cool Planet Adds $20M for New Manufacturing Site”
ResTORbio Shares Soar on Clinical Data From Lung Infection Drug
Shares of Boston-based resTORbio (NASDAQ: [[ticker:TORC]]) have nearly doubled to roughly $16 apiece, based on positive results the company released this morning from a Phase 2b trial of its drug for respiratory tract infections. The drug, RTB101, is a pill that blocks an enzyme called TORC1. The company says the drug works by boosting immune … Continue reading “ResTORbio Shares Soar on Clinical Data From Lung Infection Drug”
Alector Snags $133M to Activate Immune Cells Against Neurodegeneration
Pharmaceutical companies have been working for years to find a drug that could break up the toxic clusters of proteins associated with Alzheimer’s disease and other neurodegenerative disorders. Many of those companies have suffered disappointing failures by targeting those clusters head-on. Now a Bay Area biotechnology company, Alector, is ready to try tackling the problem … Continue reading “Alector Snags $133M to Activate Immune Cells Against Neurodegeneration”
FDA Approves NorthStar Medical to Make Isotope Generator at WI Plant
A Wisconsin company seeking to become the first domestic producer in decades of a crucial medical isotope said Tuesday that it received another key approval from the FDA. NorthStar Medical Radioisotopes said the agency approved a still-to-be-built facility at the company’s Beloit, WI, headquarters to manufacture a device that could be key to supplying a … Continue reading “FDA Approves NorthStar Medical to Make Isotope Generator at WI Plant”
Nabriva Bolsters Antibiotics Pipeline with Zavante Acquisition
Nabriva Therapeutics has acquired Zavante Therapeutics in a stock deal that brings to the antibiotics developer an FDA-ready drug. Under the deal terms announced after the market close Tuesday, San Diego-based Zavante received an upfront payment of 8.2 million Nabriva (NASDAQ: [[ticker:NBRV]]) shares. Nabriva, which splits its operations between Ireland and King of Prussia, PA, … Continue reading “Nabriva Bolsters Antibiotics Pipeline with Zavante Acquisition”
Austin’s ScaleFactor Gets $10M for Small Business Financial Software
Austin—ScaleFactor, a company that sells machine learning-based financial and bookkeeping software to small- and medium-sized businesses, has snagged a $10 million Series A funding in a round that was led by Canaan Partners. ScaleFactor plans to use the funding for marketing, business development, and to further develop its product. The company participated in the Austin … Continue reading “Austin’s ScaleFactor Gets $10M for Small Business Financial Software”
SnappyScreen’s Booths Protect People While They Have Fun in the Sun
Applying sunscreen while outdoors is a long-accepted way to help keep our skin safe from sunburn and cancer. Yet the Centers for Disease Control and Prevention says less than a third of women, and even fewer men, report using it when going outside for more than an hour. “You should put it on more frequently … Continue reading “SnappyScreen’s Booths Protect People While They Have Fun in the Sun”
Kenzie Academy Snags $4.2M, Expands Tech Training in Middle America
As the cost of a college education creeps higher and the student debt crisis grows more pressing, there are lots of people brainstorming and developing educational programs that offer an alternative to college. This is especially true in the tech sector, where numerous code schools and bootcamps have popped up in an effort to teach … Continue reading “Kenzie Academy Snags $4.2M, Expands Tech Training in Middle America”
Seattle Startups Land Cash for Machine Learning & Self-Storage Techs
New funding for startups continues to flow—this week it’s early stage Seattle tech companies that are grabbing money, including a machine learning business and a service that picks up and stores your extra junk. DefinedCrowd, which participated in the Microsoft Accelerator in 2016 before it raised a $1.1 million seed round, gathers data points from … Continue reading “Seattle Startups Land Cash for Machine Learning & Self-Storage Techs”
Qlik Buys Podium Data as Big Data Deal-Making Continues
Big software companies continue to shop for data management and analytics startups. The latest deal is Qlik’s acquisition of Podium Data, announced Tuesday morning. The price was not disclosed. Four-year-old Podium sells software that helps large enterprises manage and prepare data for analysis, focusing on data quality and security. Business analysts and data scientists use … Continue reading “Qlik Buys Podium Data as Big Data Deal-Making Continues”
Nancy Hopkins Named Xconomy’s 2018 Lifetime Achievement Award Winner
We at Xconomy are excited to announce that we are honoring Nancy Hopkins, professor emerita at MIT, with our 2018 Lifetime Achievement Award. The award recognizes Hopkins’s career in genetics and cancer biology research, as well as her groundbreaking work advocating for women in science that sparked change and inspired many in both academia and industry. She … Continue reading “Nancy Hopkins Named Xconomy’s 2018 Lifetime Achievement Award Winner”
Announcing XCON 2018: A Conference on Technology and Transformation
This fall, we are convening exemplary business leaders, investors, and far-seeing technologists for an in-depth exploration of the innovation ecosystem and its impact on the future. Come join us at our newest interactive conference, XCON: The Xconomy Conference on Technology and Transformation. It spans three days, November 4-6, and three innovation venues in the Boston … Continue reading “Announcing XCON 2018: A Conference on Technology and Transformation”
Retailers Need to Get Real About Security
It seems a distant memory now. In December 2013 – light years ago in technology time – the retail giant Target disclosed a massive software security breach of its point of sale systems. The bad guys fled the virtual premises with the credit card information of 40 million customers. This astounding number would later rise … Continue reading “Retailers Need to Get Real About Security”
Sanofi Backs Click Therapeutics as Digital Medicines Gain Momentum
Drug makers are making more bets on the nascent field of digital medicine. The latest example: Click Therapeutics announced Monday that it grabbed a $17 million investment led by Sanofi Ventures, the Cambridge, MA-based venture capital arm of the French pharmaceutical giant. New York-based Click Therapeutics develops mobile apps intended to be prescribed by doctors … Continue reading “Sanofi Backs Click Therapeutics as Digital Medicines Gain Momentum”
Goldman Sachs Leads $37M Investment in Cogito’s A.I. for Call Centers
Cogito, one of the startups working to enhance businesses’ call center operations with sophisticated analytics software, has scooped up $37 million from investors to try and take its business to the next level. The Series C funding round was led by Goldman Sachs’s growth equity fund, with earlier Cogito backers Salesforce Ventures and OpenView Venture … Continue reading “Goldman Sachs Leads $37M Investment in Cogito’s A.I. for Call Centers”
Empatica, Kyruus, Pear & More: Digital Trailblazer Award Finalists
Healthcare is seeing an explosion in the use of data analytics, machine learning tools, wearable devices, mobile apps, and other digital technologies. Software products are not only augmenting the capabilities of doctors—in some cases, the digital product is itself being prescribed as a treatment. In recognition of the growing impact of such technologies in healthcare, … Continue reading “Empatica, Kyruus, Pear & More: Digital Trailblazer Award Finalists”
Sangamo Bags TxCell, and a Next-Gen Cell Therapy Tech, for $84M
Sangamo Biosciences has acquired French biotech TxCell, adding an experimental technology with the potential to treat autoimmune diseases with cell therapy. Sangamo (NASDAQ: [[ticker:SGMO]]), of Richmond, CA, will pay €72 million ($84.31 million), or $2.58 per share, for TxCell. It expects to complete the deal later this year. The deal gives Sangamo a technology that … Continue reading “Sangamo Bags TxCell, and a Next-Gen Cell Therapy Tech, for $84M”
Promega Breaks Ground on $190M R&D Building: Slideshow
Things have been booming at Promega—literally. The Fitchburg, WI-based life science supplies business on Wednesday held a groundbreaking ceremony for a 270,000-square-foot research and development facility that the company expects to open in late 2020. The event, which about 350 people attended, even included a daytime fireworks display. The fireworks were arranged to demonstrate the … Continue reading “Promega Breaks Ground on $190M R&D Building: Slideshow”
Agios Pharma’s Drug for Rare Blood Cancer Wins Speedy FDA Nod
An Agios Pharmaceuticals drug developed to treat a rare form of leukemia has received FDA approval ahead of schedule. This marks the second time in the past year that the company has won the regulatory nod for a treatment for the disease, but this is the first approved drug that’s wholly owned by the Cambridge, … Continue reading “Agios Pharma’s Drug for Rare Blood Cancer Wins Speedy FDA Nod”
Futures Command, SparkCognition, Student Loan Hero, & More TX Tech
Let’s get caught up with the latest news from Xconomy Texas. —Austin will be the new home for the U.S. Army’s Futures Command, a technology-focused reorganization of the military branch’s operations. “The command is expected to assess the future operational environment, emerging threats, and new technologies in order to develop and deliver concepts, requirements, future … Continue reading “Futures Command, SparkCognition, Student Loan Hero, & More TX Tech”
Best Reads for Casual Friday: Big Tech Businesses Gets Political
You’ve made it to Friday. Time to curl up in your cubicle, pop open one of these in-depth, entertaining reads, and catch up on some of what you missed during a busy week. This week we’re taking a look at all the political stories that are coming out of the tech world. And given the … Continue reading “Best Reads for Casual Friday: Big Tech Businesses Gets Political”
Epic Systems Pauses HQ Construction After 15 Years of Constant Growth
[Updated 7/22/18 12:48 p.m. See below.] The cranes are gone from Epic Systems’ corporate campus in Verona, WI. After more than a decade of near-perpetual expansion, the fast-growing healthcare software company is taking a break from new building construction, Xconomy has learned. Epic’s employee count has more than tripled in the past decade, from a … Continue reading “Epic Systems Pauses HQ Construction After 15 Years of Constant Growth”
Bio Roundup: Drug Prices, CRISPR Caveats, Rubius IPO Pop & More
After nearly two years of all smoke, no fire around President Trump’s promise to curtail drug prices, there’s finally some glimmer of action. Pfizer said last week it would halt its price hikes, and Novartis and Merck took similar actions this week. But we still don’t know the details of the administration’s drug-pricing policy, if … Continue reading “Bio Roundup: Drug Prices, CRISPR Caveats, Rubius IPO Pop & More”
Hyundai Launches Digital Showroom on Amazon to Better Reach Customers
Replicating the car dealership experience online has historically been a challenge. Although many of us have grown to prefer the ease and convenience of shopping online, there’s nothing quite like kicking the tires of a vehicle in person. Because cars are one of the most expensive purchases many of us will make, it’s especially important … Continue reading “Hyundai Launches Digital Showroom on Amazon to Better Reach Customers”
Boston Tech Watch: Wistia, Armored Things, TowerIQ, Cignifi & More
[Updated 7/20/18, 1:08 pm. See below.] Time to catch up on the latest Boston-area tech news: —State Street (NYSE: [[ticker:STT]]), the financial services giant based in Boston, said it inked an agreement to acquire Charles River Systems, also known as Charles River Development, for $2.6 billion in cash. Burlington, MA-based Charles River provides investment management … Continue reading “Boston Tech Watch: Wistia, Armored Things, TowerIQ, Cignifi & More”
PTC Dives Into Gene Therapy with $50M Agilis Biotherapeutics Deal
PTC Therapeutics is looking to gene therapy in a bid to broaden its pipeline, scooping up privately held Agilis Biotherapeutics in a cash and stock deal. South Plainfield, NJ-based PTC (NASDAQ: [[ticker:PTCT]]) will pay $50 million up front, plus $150 million in PTC shares, for Agilis. Agilis, based in Cambridge, MA, could get up to … Continue reading “PTC Dives Into Gene Therapy with $50M Agilis Biotherapeutics Deal”
San Antonio Sticks to Growth Playbook, Despite Turndowns by Startups
San Antonio—There’s plenty of scrutiny of whether it’s worthwhile for governments to offer incentive packages that aim to attract businesses and the jobs they bring. Still, city and state leaders across the nation continue to do it, among other efforts to bolster their business communities. Most arrangements aren’t gargantuan billion-dollar deals, like the tributes offered … Continue reading “San Antonio Sticks to Growth Playbook, Despite Turndowns by Startups”
Sputnik ATX Picks Five Startups In Second Austin Accelerator Class
Austin—Sputnik ATX, a startup accelerator that launched last year, has picked a group of five startups that will be the second class of businesses to run through the program. The early stage companies include a software-as-a-service business that connects teachers with jobs at school districts, a cosmetics maker, and other software companies (read about each … Continue reading “Sputnik ATX Picks Five Startups In Second Austin Accelerator Class”
FDA Puts Mersana Cancer Study on Partial Hold After Patient Death
[Updated, 7/19/18, 6:25 p.m. See below.] A patient has died in a clinical trial testing Mersana Therapeutics’ lead cancer drug, and the FDA has put a partial hold on the early-stage study as a result. The partial hold means that no new patients will be enrolled in the Phase 1 clinical trial. But patients who … Continue reading “FDA Puts Mersana Cancer Study on Partial Hold After Patient Death”
If the Shoe Fits: Luxury Shoe Club Launches E-Consignment Store
One in five pairs of shoes sit unworn in the average woman’s closet. So, why not sell these unused, or slightly used, pairs to someone who will wear them? That’s the view of Scott Van Valkenburgh, co-founder of Luxury Shoe Club, a Raleigh, NC-based startup that caters to women who want to buy and sell … Continue reading “If the Shoe Fits: Luxury Shoe Club Launches E-Consignment Store”
Google Partners With Zapata on Open-Source Quantum Computing Effort
Zapata Computing, a Harvard University spinout developing software to enable quantum computers, said Wednesday it’s working with Google to advance quantum computing technologies. Zapata said it’s one of the first users of Cirq, Google’s new open-source software framework for quantum computing. The initiative is yet another example of the growing investment in quantum computing research … Continue reading “Google Partners With Zapata on Open-Source Quantum Computing Effort”
Fresh Off Bristol Buyout, IFM Backers Raise $31M to Plot a Second Strike
Nearly one year ago, biotech startup IFM Therapeutics sold some of its assets to Bristol-Myers Squibb for $300 million. But IFM’s founders stuck around to try to capitalize on the startup’s remaining research. They’ve formed a Boston business, IFM Tre, that has just raised $31 million to fund some of that work. The cash comes … Continue reading “Fresh Off Bristol Buyout, IFM Backers Raise $31M to Plot a Second Strike”
Global Firm Opens Detroit Fintech Co-Working Hub to Foster Growth
What do Singapore, Bahrain, and Detroit have in common? If you answered “they’re all home to financial technology hubs,” you win a prize. Singapore is a well-known global finance capital, while Bahrain has spent the past four decades positioning itself as one of the Middle East’s bastions of commerce and entrepreneurship. Detroit is perhaps the … Continue reading “Global Firm Opens Detroit Fintech Co-Working Hub to Foster Growth”
E.U. Slaps $5B Antitrust Fine on Google; Trump Blasts Back With Tweet
[Updated 7/19/18, 9:59 am. See below.] If top European leaders faced a testy President Donald Trump in a series of meetings this summer, imagine the mood when the president of the European Commission arrives at the White House next Wednesday. President Trump and the European Union’s top executive officer, Jean-Claude Juncker, are slated to discuss … Continue reading “E.U. Slaps $5B Antitrust Fine on Google; Trump Blasts Back With Tweet”