Category: National

Cosworth Prepares for Autonomous Future with New Michigan Factory

Huge changes are underway in the automotive industry as autonomous vehicles get closer to becoming reality, forcing manufacturers and suppliers to rethink their growth strategy. Cosworth, a 60-year-old company based in the United Kingdom that has historically made high-performance racing engines, is no exception, says CEO Hal Reisiger. Late last month, Cosworth unveiled its new … Continue reading “Cosworth Prepares for Autonomous Future with New Michigan Factory”

Down the Stretch: Akcea, Alnylam Face Reality Checks as FDA Dates Loom

More details from two drug programs up for approval this year to treat a rare genetic disease emerged yesterday, published in side-by-side papers in the New England Journal of Medicine. In one sense, the new papers hold no surprises, but they reinforce the similarities and differences between the closely watched drugs, one from Akcea Therapeutics … Continue reading “Down the Stretch: Akcea, Alnylam Face Reality Checks as FDA Dates Loom”

Bio Roundup: Dunsire’s Danish, Price Hikes, Rare-Disease Race & More

[Corrected, 7/6/18, 1:26 pm. See below.] Xconomy was dumbstruck this week, and not by the fireworks overhead. Our friend and one of our earliest employees, San Diego editor Bruce Bigelow, died suddenly last weekend. Bruce covered everything—and everyone—in San Diego’s innovation scene, including the life sciences. Some of our favorite stories of his sprang from … Continue reading “Bio Roundup: Dunsire’s Danish, Price Hikes, Rare-Disease Race & More”

Apparel Brands Keep Up with Amazon Using Smart Factory Floor Software

The fashion industry has always prided itself on being cutting-edge. With technologies like the Internet of Things and analytics, apparel brands are now able to pivot more easily and frequently as styles change. Apparel makers “scrub social media, bringing up styles based on what people are wearing,” says Paul Magel, president of application solutions and … Continue reading “Apparel Brands Keep Up with Amazon Using Smart Factory Floor Software”

Boston Scientific Continues M&A Streak with $202M Deal for Cryterion

Boston Scientific is adding on to its heart rhythm management business again, this time with a deal to acquire atrial fibrillation device startup Cryterion Medical for $202 million. The cash payment covers the 65 percent of Cryterion that the Marlborough, MA, medical device giant does not already own. Boston Scientific (NYSE: [[ticker:BSX]]) had been an … Continue reading “Boston Scientific Continues M&A Streak with $202M Deal for Cryterion”

The Empathy Economy: Emotional Intelligence in Customer Service

The “empathy economy” will help define the new reality of human and machine interactions in the customer service industry. A takeoff on the sharing economy, the empathy economy will grow due to brand mania and increased automation in the workplace. Consumers are inundated by brands in their day-to-day lives, and these brands sometimes create personal … Continue reading “The Empathy Economy: Emotional Intelligence in Customer Service”

PassageX, Listia Partner to Use Blockchain to Resell Tickets

Alex Linebrink is on a mission to cut out the middle man. Linebrink is the founder and CEO of Passage, a Detroit-based ticketing startup. The company’s bread and butter is servicing smaller, niche events, such as Halloween-themed tours, beer festivals, comedy shows, and minor league soccer. “Passage powers ticketing for specialty events,” Linebrink explains. “We … Continue reading “PassageX, Listia Partner to Use Blockchain to Resell Tickets”

Priority Changes for Novartis Spell the End for Aveo Pharma Alliance

When Aveo Pharmaceuticals found itself floundering three years ago in the wake of the FDA’s rejection of its lead cancer drug, Novartis threw out a lifeline: a partnership on another Aveo drug that would finance its development. Now Novartis is pulling that support away. Novartis (NYSE: [[ticker:NVS]]) is ending the partnership on the compound AV-380, … Continue reading “Priority Changes for Novartis Spell the End for Aveo Pharma Alliance”

Are You a SaaS Startup? Private Equity May Soon Be Coming For You

[Updated 3:16 p.m. See below.] More money than ever is flowing into software companies that offer anything from niche applications to more general cloud storage services, customer relationship tools, and more. So far this year, the amount of venture capital funding invested in these software-as-a-service (SaaS) businesses tops $12 billion, according to data compiled by … Continue reading “Are You a SaaS Startup? Private Equity May Soon Be Coming For You”

Metro Detroit Teachers Create App to Help Automate School Lockdowns

It seems that hardly a week goes by without news of yet another mass shooting in the United States. Since the threat of spontaneous gun violence doesn’t seem to be going away, innovators are looking for ways to protect themselves and loved ones from these shooters. That includes two Detroit-area teachers, Matt Ridenour and Josette … Continue reading “Metro Detroit Teachers Create App to Help Automate School Lockdowns”

Automation Anywhere Scores $250M to Globalize Bot Workforce

Automation Anywhere, which supplies customers with armies of software robots to take over manual tasks such as insurance claims processing, announced today it raised $250 million in a first funding round that set its post-money valuation at $1.8 billion. The San Jose, CA-based company, begun in 2003 by four co-founders who bootstrapped its funding, has … Continue reading “Automation Anywhere Scores $250M to Globalize Bot Workforce”

In Celebration of Bruce Bigelow: Our Memories, His Playlist

[Updated, 7/5/18. See below] Bruce Victor Bigelow, editor of Xconomy San Diego, passed away Friday afternoon, June 29, at the age of 63. He had suddenly fallen ill less than a week earlier, after he returned to San Diego from a hiking trip in Utah. Our initial post about Bruce’s death is here. And the … Continue reading “In Celebration of Bruce Bigelow: Our Memories, His Playlist”

Fresh Off Launch of First Test, TAI Diagnostics Adds Funding

As TAI Diagnostics presses forward on commercialization of its first product, a test for organ rejection in heart transplant patients, the Wauwatosa, WI-based startup recently revealed additional funding to support development of more tests. TAI Diagnostics is developing a series of non-invasive tests to monitor the health of transplant recipients. The company’s name stands for … Continue reading “Fresh Off Launch of First Test, TAI Diagnostics Adds Funding”

Lundbeck Reaches Across Atlantic, Picks Dunsire for CEO Post

Deborah Dunsire, a veteran of Boston’s biotech scene, is taking off. Specifically, she’s taking the top job at Danish pharma firm Lundbeck, according to an announcement this morning. The move comes only a year after Dunsire said she would lead 30-employee XTuit Pharmaceuticals of Waltham, MA, a preclinical cancer company. At the time, she told … Continue reading “Lundbeck Reaches Across Atlantic, Picks Dunsire for CEO Post”

American Well Raises $290M+ to Go Bigger in Telehealth

American Well appears to be raising a massive venture capital investment. The Boston-based telehealth company disclosed in a new SEC filing that it has pulled in $290.6 million in a new funding round that could reach almost $315 million. A company spokeswoman declined to comment. Regardless of how large the latest investment in American Well … Continue reading “American Well Raises $290M+ to Go Bigger in Telehealth”

Virtual Physical Therapy Firms Reflexion and MindMaze Probe Markets

For most patients—and for many drug developers—healthcare reimbursement policies can present a daunting maze of restrictions and uncertainties. But for some tech companies, those policies can be accelerants that boost the chances that new products will be adopted. That’s the case for Reflexion Health, which benefits from U.S. insurance coverage regulations that create openings for … Continue reading “Virtual Physical Therapy Firms Reflexion and MindMaze Probe Markets”

Cyber Trend: Hackers Love to Steal Data; Now They Might Weaponize It

For years, cyber attackers’ primary aim has been to pilfer sensitive information from businesses and individuals, either to sell it in the dark corners of the Internet, hold it for ransom, or use it themselves for material gain. More recently, efforts to connect all manner of machines to the Internet has led to growing worries … Continue reading “Cyber Trend: Hackers Love to Steal Data; Now They Might Weaponize It”

The Art of Perseverance: Meet Xconomy’s Six CEO Award Finalists

The Xconomy Awards are back, and today we’re kicking things off by taking a look at our first set of finalists—the top Boston biotech CEOs nominated by you, the readers. We’ve gone through all the nominations and come up with six finalists. Some of these CEOs have withstood years of ups and downs to take … Continue reading “The Art of Perseverance: Meet Xconomy’s Six CEO Award Finalists”

Study: Blood Test for Prostate Cancer Can Guide Therapy, Extend Lives

Blood tests for cancer, known as liquid biopsies, have become available in recent years to guide treatments for people already diagnosed. But how useful are they? A paper published last week in the journal JAMA Oncology makes the case that one such test, Oncotype DX AR-V7 Nucleus Detect, might be worth its $3,980 price tag. … Continue reading “Study: Blood Test for Prostate Cancer Can Guide Therapy, Extend Lives”

Xconomy Mourns the Loss of San Diego Editor Bruce Bigelow

[Updated, 7/5/18. See below] It is with profound sadness that we at Xconomy say goodbye to our longtime friend and editor of Xconomy San Diego, Bruce Bigelow. An outstanding journalist, colleague, and friend, and a fixture of the San Diego innovation scene, Bruce passed away today at age 63 after a brief illness. We are … Continue reading “Xconomy Mourns the Loss of San Diego Editor Bruce Bigelow”

Nanotech Liquidia Hops IPO Wave as Lead Drug Faces Late-Stage Test

Liquidia Technologies focuses on the small. Its method of producing nano-scale particles improves how a drug reaches its target in the body. Now the clinical-stage biopharmaceutical company is aiming for something big: an IPO to finance tests of a pair of drugs that use this drug delivery technology. Research Triangle Park, NC-based Liquidia filed the … Continue reading “Nanotech Liquidia Hops IPO Wave as Lead Drug Faces Late-Stage Test”

SimpliSafe Sold to Private Equity Firm as Home Security Heats Up

[Updated 6/29/18, 3:38 pm. See below.] More deal-making in home security today: SimpliSafe has sold a majority stake in the company to private equity firm Hellman & Friedman. Terms of the deal weren’t disclosed in a press release. A spokeswoman says Hellman & Friedman “made a majority investment alongside” SimpliSafe management. Founded in 2006, SimpliSafe … Continue reading “SimpliSafe Sold to Private Equity Firm as Home Security Heats Up”

Best Reads for Casual Friday: Cybersecurity (And Some Amazon, Too)

You’ve made it to Friday—it’s time to take a step back, prepare for a relaxing weekend, and read a few stories about the endless ways in which your personal information can be stolen. OK, maybe it’s better to spin it like this: Here are some of the most interesting reads from this last week on … Continue reading “Best Reads for Casual Friday: Cybersecurity (And Some Amazon, Too)”

Shell Backs Openbay, Ex-Nest Exec’s New Startup & More Boston Deals

[Updated 6/29/18, 9:55 am. See below.] Time to catch up on recent news from the Boston-area tech scene: —Monotony.ai, a stealthy new startup based in Watertown, MA, has raised $2.65 million from investors, according to an SEC filing. The company’s website doesn’t offer any clues about what it’s working on, but the new venture is … Continue reading “Shell Backs Openbay, Ex-Nest Exec’s New Startup & More Boston Deals”

Bio Roundup: Big Bucks For Calico, Data Dumps & The IPO Wave Rolls On

If you’re running a privately held biotech, the time to go public is now. Clinical data already in hand or not, biotechs have charged to Wall Street at a record pace over the past two weeks, raising more than $1 billion in offerings that all met or exceeded their projected valuations. And there are no … Continue reading “Bio Roundup: Big Bucks For Calico, Data Dumps & The IPO Wave Rolls On”

Assembler Labs Aims to Get Detroit Entrepreneurs Out of Their Shells

Ian Sefferman is bullish on the Midwest, particularly Detroit. A native of the area, Sefferman started a Seattle-based app marketing company called MobileDevHQ that was acquired by TUNE in 2014. While Sefferman was deciding what to do next, he moved back to Detroit last year to be closer to family and learn more about the … Continue reading “Assembler Labs Aims to Get Detroit Entrepreneurs Out of Their Shells”

Acceleron’s Blood Drug Hits Phase 3 Goals, Paves Way for FDA Filing

An experimental Acceleron drug for a blood disorder has hit the main goals of a pivotal study, and the company and partner Celgene say they now plan to file for FDA approval next year. The Acceleron (NASDAQ: [[ticker:XLRN]]) drug, luspatercept, is being tested as a treatment for myelodysplastic syndrome (MDS), a type of cancer characterized … Continue reading “Acceleron’s Blood Drug Hits Phase 3 Goals, Paves Way for FDA Filing”

Foxconn, Data Science, Roche & More: This Week’s Wisconsin Watchlist

The collective eyes of Wisconsin’s business and technology communities are focused on a groundbreaking ceremony that Foxconn, a Taiwan-based electronics manufacturing giant, plans to hold Thursday at the site of its future electronic display production facility in the state’s southeastern corner. President Donald Trump and other big-name politicians like House Speaker Paul Ryan and Wisconsin … Continue reading “Foxconn, Data Science, Roche & More: This Week’s Wisconsin Watchlist”

The Key to A Clean Energy Economy? Incubators, Deals, & Attention

San Antonio—[Updated 6/29/18, 1:52 p.m. See below.] Businesses and individual consumers are increasingly tapping into solar, wind, and other renewable energy sources, in part thanks to the scientists and engineers who are developing new and more efficient ways of utilizing these energy sources. Renewables accounted for about 11 percent of overall energy consumption in the … Continue reading “The Key to A Clean Energy Economy? Incubators, Deals, & Attention”

EverQuote Founders Talk IPO Fever, Journey from Biotech to Insurance

When I got on the phone Thursday with the leaders of EverQuote, Boston’s newest publicly traded tech company, I expected them to grumble about how I cast their venture as a “company you’ve never heard of” in yesterday’s story about its IPO. On the contrary, EverQuote CEO and co-founder Seth Birnbaum agreed with me. The … Continue reading “EverQuote Founders Talk IPO Fever, Journey from Biotech to Insurance”

Amazon Acquiring Online Pharmacy PillPack, Eyes Prescription Drug Market

It’s Amazon, not Walmart, that’s buying online pharmacy PillPack. The companies announced the deal Thursday morning but didn’t disclose any financial terms. The acquisition is expected to close in the second half of 2018. Back in April, Walmart was in serious talks to acquire PillPack. Those talks apparently broke down, and it’s no surprise that … Continue reading “Amazon Acquiring Online Pharmacy PillPack, Eyes Prescription Drug Market”

IPO Wave Rolls On as Five Life Science Firms Haul In $651M

A week after seven biotechs went public, setting a new record for the Nasdaq, five more life sciences companies have joined the club. The latest crop continued the positive momentum for life sciences offerings, as the group either met or exceeded their projections and raised a total of $651 million. Neon Therapeutics (NASDAQ: [[ticker:NTGN]]) was … Continue reading “IPO Wave Rolls On as Five Life Science Firms Haul In $651M”

Akebia Merges With Keryx as Anemia Drug Race Nears Finish Line

The race to treat anemia with a pill, not an injectable biologic, just took a new turn. Akebia Therapeutics (NASDAQ: [[ticker:AKBA]]), which is battling with FibroGen (NASDAQ: [[ticker:FGEN]]) to bring an anemia pill to market, has just announced plans to merge with kidney drug disease developer Keryx Pharmaceuticals (NASDAQ: [[ticker:KERX]]) in an all-stock deal that … Continue reading “Akebia Merges With Keryx as Anemia Drug Race Nears Finish Line”

BitSight Picks Up $60M to Fend Off Rivals in Cybersecurity Ratings

BitSight Technologies is restocking its war chest to try and win the emerging market for cybersecurity ratings. Today the Cambridge, MA-based tech company announced it raised $60 million in a Series D funding round led by Warburg Pincus, the global private equity firm that has backed the likes of CrowdStrike in cybersecurity, DBRS in credit … Continue reading “BitSight Picks Up $60M to Fend Off Rivals in Cybersecurity Ratings”

EverQuote, a Boston Tech Company You’ve Never Heard of, Going Public

The name EverQuote may not ring a bell for you, although chances are you’ve seen one of its online ads about “disrupting” the insurance industry. The company, which operates an online marketplace for auto, home, and life insurance, has mostly flown under the radar on its way to reaching $120 million-plus in annual revenue and … Continue reading “EverQuote, a Boston Tech Company You’ve Never Heard of, Going Public”

Precision Bio Lands $110M as Gene-Edited Cell Therapy Nears Clinic

While CRISPR has grabbed the lion’s share of gene-editing headlines, Precision BioSciences has used its own gene-editing technology to quietly build a pipeline of products for both agriculture and human health. The Durham, NC company is now preparing to start testing a gene-edited cell therapy for cancer in humans and it has raised $110 million … Continue reading “Precision Bio Lands $110M as Gene-Edited Cell Therapy Nears Clinic”

GBT Eyes Fast Nod for Sickle Cell Drug but Won’t Use Patient-Reported Data

Global Blood Therapeutics hasn’t finished testing its treatment for sickle cell disease, but the South San Francisco, CA-based company thinks it can get a fast-track approval for the once-a-day pill, voxelotor, from the FDA. That was the company’s message this morning when it presented results from the first half of its key Phase 3 study, … Continue reading “GBT Eyes Fast Nod for Sickle Cell Drug but Won’t Use Patient-Reported Data”

It’s a Bird! A Bike! A Scooter! New Transit Options Land in Milwaukee

[Update 6/28/18 5:24 p.m.] Less than 24 hours after Bird rolled out a fleet of 100 motorized scooters in downtown Milwaukee that people can rent using Bird’s smartphone app, Milwaukee Deputy City Attorney Adam Stephens wrote the company a letter asking Bird to “immediately remove all of the motorized scooters held out for rent on … Continue reading “It’s a Bird! A Bike! A Scooter! New Transit Options Land in Milwaukee”

May Mobility and Bedrock Deploy Driverless Shuttles in Detroit

In March, May Mobility CEO Ed Olson told Xconomy that his company would beat Waymo, Uber, and Cruise in the race to get autonomous vehicles on the road, and it appears he may be right. May and Bedrock, the Detroit real estate firm associated with Quicken Loans chairman Dan Gilbert, have launched what they call … Continue reading “May Mobility and Bedrock Deploy Driverless Shuttles in Detroit”

New Round Boosts Lyft Valuation to $15B, But Uber Still Looms Large

Ridesharing service Lyft has upped its valuation by about $3.5 billion after adding a $600 million round of funding, which the company said Wednesday morning was led by previous investor Fidelity Management & Research. The new funding round gives Lyft a $15.1 billion post-money valuation, the company said in a blog post. That’s up from … Continue reading “New Round Boosts Lyft Valuation to $15B, But Uber Still Looms Large”

Summit Therapeutics Ditches Duchenne Drug In Wake of Phase 2 Failure

An experimental treatment for Duchenne muscular dystrophy has failed a mid-stage study, and Summit Therapeutics said Wednesday it is now stopping work on the drug. Summit shares plunged nearly 80 percent on the news. Duchenne is an inherited disorder found mainly in boys that causes progressive muscle weakness. The Summit (NASDAQ: [[ticker:SMMT]]) drug, ezutromid, was … Continue reading “Summit Therapeutics Ditches Duchenne Drug In Wake of Phase 2 Failure”

Largest Startup Class Yet Enters UC Berkeley’s Expanding Accelerator

More than a hundred startup teams are beginning a training and mentoring program this month at the Berkeley SkyDeck Accelerator—the largest group ever accepted to the UC Berkeley program since it was founded in 2012. Aside from the funding, free office rent, and other resources offered by the startup accelerator located near the edge of … Continue reading “Largest Startup Class Yet Enters UC Berkeley’s Expanding Accelerator”

Cibus Raises $70M for Marketing of Gene-Edited Canola, More R&D

Sales of Cibus’ first product, a gene-edited canola, have gone so well that the San Diego company has raised $70 million in new financing to boost its commercialization efforts. The Series C round of funding announced Tuesday was led by Fidelity Management and Research Company, and was joined by Alexandria Venture Investments, Cormorant Asset Management, … Continue reading “Cibus Raises $70M for Marketing of Gene-Edited Canola, More R&D”

Ford Builds Mobility Operation in Detroit, Releases New Fleet Tools

When I moved to Detroit about a decade ago, the husk of Michigan Central Station loomed over the Corktown neighborhood as an unrelenting reminder of how far the city had fallen—a symbol of its ruinous post-industrial identity as emblematic as the Sphinx was to Egypt. The conventional wisdom back then was that the old train … Continue reading “Ford Builds Mobility Operation in Detroit, Releases New Fleet Tools”

AstraZeneca’s PARP Drug Is First to Help New Ovarian Cancer Patients

Over the past few years, a new class of drugs known as “PARP” inhibitors has begun to change how ovarian cancer is treated. Data released by AstraZeneca and partner Merck this morning, from a Phase 3 study of the drug olaparib (Lynparza), could continue the trend. AstraZeneca (NYSE: [[ticker:AZN]]) and Merck (NYSE: [[ticker:MRK]]) said that … Continue reading “AstraZeneca’s PARP Drug Is First to Help New Ovarian Cancer Patients”

Don’t Be Boston 2.0, And Photos From “Bringing Back the Expats”

Be your own biotech cluster, not a Boston redux. Accelerate the momentum that’s already begun, don’t let it fizzle. And above all, be fearless entrepreneurs. You’ll need to be if New York biotech will ever become what its champions hope. Those were just a few lessons ex-New Yorker biopharma veterans had for the nascent life … Continue reading “Don’t Be Boston 2.0, And Photos From “Bringing Back the Expats””

Senators Grill HHS’s Azar on Drug Price Cuts That Have Yet to Come

When President Trump signed legislation last month allowing seriously ill patients the “right to try” unapproved drugs without FDA oversight, he voiced a bold prediction: Within two weeks, he said, drug companies would announce “voluntary massive drops in prices.” Asked for further detail, the Department of Health and Human Services (HHS) declined to elaborate on … Continue reading “Senators Grill HHS’s Azar on Drug Price Cuts That Have Yet to Come”

GE to Spin Out Healthcare Division in Corporate Restructuring

General Electric said Tuesday that it plans to spin its GE Healthcare division out into a separate company and make other major structural changes in a bid to reduce debt and narrow the iconic yet ever-evolving American company’s areas of focus. GE Healthcare, which is headquartered in Chicago, said its 54,000 employees are scattered across … Continue reading “GE to Spin Out Healthcare Division in Corporate Restructuring”

Air Force Innovation, Funds for Newchip & Convey, & More TX Tech

Let’s get caught up with the latest innovation news from Xconomy Texas. —Chevron Technology Ventures has launched a Future Energy Fund with an initial commitment of $100 million. The venture arm is a subsidiary of California-based Chevron (NYSE: [[ticker:CVX]]) and the new fund is designed to invest in “breakthrough technologies that enable the ongoing energy … Continue reading “Air Force Innovation, Funds for Newchip & Convey, & More TX Tech”