Shahin Farshchi, a partner at Silicon Valley VC firm Lux Capital, describes himself on his LinkedIn profile as a gearhead, Trekkie, and recovering engineer. He’s a Bay Area native who spent part of his career working at GM’s tech center just outside of Detroit in Warren, MI. He’s into cars, space (as in the final … Continue reading “How Will Mobility Industry Take Shape? Lux Capital’s Farshchi Weighs In”
Category: National
Boston Tech Watch: Desktop Metal, Nuance, Zagster, Elephant & More
[Updated 3/24/18, 1:38 pm. See below.] This week in Boston tech, we’re tracking a 3D printing rivalry now headed to court, layoffs at a local bike-sharing startup, a leadership transition, more money for two venture capital firms, and an investment in a stealthy startup that appears to have MIT ties. Read on for details. —Burlington, … Continue reading “Boston Tech Watch: Desktop Metal, Nuance, Zagster, Elephant & More”
YouTube Limits Firearms Videos; Gun Rights Group Cries Censorship
YouTube has broadened its restrictions on gun-related videos, while thousands of Americans are mobilizing to demand stricter gun controls Saturday in a mass march spurred by young survivors of a deadly armed attack on a Florida high school last month. Google’s popular video-hosting site will bar videos that facilitate direct sales of firearms or accessories, … Continue reading “YouTube Limits Firearms Videos; Gun Rights Group Cries Censorship”
With Competition Rising, Dropbox Now a Public Company After $756M IPO
[Updated 3/23/18, 3:35 p.m. See below.] Dropbox has raised about $756 million in its public market debut after pricing its IPO at $21 per share, according to news reports citing sources familiar with the matter. It’s the largest initial public offering for a U.S. tech company since Snap’s $3.9 billion offering a year ago. That … Continue reading “With Competition Rising, Dropbox Now a Public Company After $756M IPO”
Renaissance Learning Turns the Page with Purchase of Minnesota Firm
Renaissance Learning, a Wisconsin company that claims its cloud-based educational software is used in more than 70 countries, said earlier this week it had acquired Myon, a developer of tools designed to improve and assess students’ reading abilities. Wisconsin Rapids, WI-based Renaissance, which focuses on K-12 education, said it plans to build applications that combine … Continue reading “Renaissance Learning Turns the Page with Purchase of Minnesota Firm”
AbbVie Shares Plummet as $5.8B Bet on Stemcentrx Takes a Hit
There is still a chance that AbbVie’s $5.8 billion gamble on acquiring Stemcentrx, a privately held developer of cancer stem cell drugs, could pay off. But the deal’s prospects dimmed this morning with news that Stemcentrx’s lead drug disappointed in clinical testing, sending shares of Chicago-based AbbVie down. AbbVie (NYSE: [[ticker:ABBV]]) said that it won’t … Continue reading “AbbVie Shares Plummet as $5.8B Bet on Stemcentrx Takes a Hit”
Freenome Co-founder & Investor Chat Where Big Data Meets Big Bio
Through the years, Xconomy has taken many of the stories we’ve published about innovation and entrepreneurship and brought them to life on stage at our events. In the process, we have learned that combining an entrepreneur with a venture investor for a one-on-one chat can provide some fascinating insights into the startup process. So we’re … Continue reading “Freenome Co-founder & Investor Chat Where Big Data Meets Big Bio”
Join Xconomy as We Bring Back the NY Biotech Expats on June 21
Here’s a question posed time and again by the those toiling away to build up New York’s biotech scene: What if we could just bring back the biopharma veterans who grew up here? You can call them the New York expats. They started out in Brooklyn, Queens, the Bronx, but like many others before them, … Continue reading “Join Xconomy as We Bring Back the NY Biotech Expats on June 21”
After Decades of R&D, Bose Amps Up VC Deals in AR, Wearables, Wellness
[Updated 3/22/18, 1:14 pm. See below.] For the first 50 years of its existence, Bose Corporation invested primarily in in-house research and development to produce its lineup of high-end headphones, speakers, and other audio technologies. Bose’s Steve Romine says that’s still an important focus for the Framingham, MA-based company, which has been awarded hundreds of … Continue reading “After Decades of R&D, Bose Amps Up VC Deals in AR, Wearables, Wellness”
Rheos Medicines Launches, Backed by $60M for Immunometabolism R&D
Though many people understand metabolism as the process of converting food into the energy the body needs, it also plays a key role in how immune cells work. A growing body of evidence is revealing ways that adjusting metabolism at the cellular level could help immune cells treat disease. “You can get immune cells to … Continue reading “Rheos Medicines Launches, Backed by $60M for Immunometabolism R&D”
Don’t Want Your Facebook Profile Scraped? A Do-It Yourself Fix
Facebook CEO Mark Zuckerberg tried to reassure users Wednesday that its new and old modifications will prevent the wholesale capture of millions of personal profiles, like the 50 million that fell into the hands of political consulting firm Cambridge Analytica by 2015. But an MIT team says canny software developers could still amass these profiles … Continue reading “Don’t Want Your Facebook Profile Scraped? A Do-It Yourself Fix”
San Antonio Bioscience and Technology Development Group Replaces CEO
San Antonio — [Updated 3/22/18, 11 a.m. See below.] The first CEO of VelocityTX, an emerging technology and startup resource center in San Antonio, has left the organization less than a year after he joined. Jorge Varela decided to pursue other interests, according to a press release from VelocityTX. A spokeswoman wouldn’t provide further detail. Varela … Continue reading “San Antonio Bioscience and Technology Development Group Replaces CEO”
Zuckerberg Says Facebook Correcting Its “Mistakes” To Protect User Profiles
Breaking his silence after a firestorm of revelations about Facebook’s links to a shadowy political consulting firm, Cambridge Analytica, Facebook founder Mark Zuckerberg announced this afternoon that the company is taking further steps to prevent unauthorized access to users’ personal information. The Facebook CEO was responding to news that data research firm Cambridge Analytica had … Continue reading “Zuckerberg Says Facebook Correcting Its “Mistakes” To Protect User Profiles”
At Opioid Hearing, BIO Exec Proposes Ways to Boost Pain Drug Development
After months of meetings and Congressional hearings on the unrelenting opioid addiction crisis, Congress has finally responded, with 25 bills that aim to attack the problem from all sides. The House Energy and Commerce Committee began two days of hearings on Wednesday that reviewed the draft legislation that lawmakers want to get to the House … Continue reading “At Opioid Hearing, BIO Exec Proposes Ways to Boost Pain Drug Development”
Hungry for Innovation, Big Food Firms Seek Alliances With Startups
Big Food is getting serious about innovation. Many top food companies are increasingly pumping money into supporting young, innovative startups, according to a recent analysis by CB Insights. The firms include stalwarts like Kraft Heinz (NASDAQ: [[ticker:KHC]]), which has an incubator and accelerator program called Springboard, and relative newcomers like the Greek-style yogurt maker Chobani, … Continue reading “Hungry for Innovation, Big Food Firms Seek Alliances With Startups”
MIT Team Says Facebook Profiles Could Still Be Stolen, At Scale
If your personal Facebook profile isn’t among the 50 million allegedly pilfered by the political consulting firm Cambridge Analytica, could another company still scrape it up, along with many others? A policy research team from MIT’s Computer Science and Artificial Intelligence Laboratory (CSAIL) says yes. In a blog post published today, three MIT graduate students … Continue reading “MIT Team Says Facebook Profiles Could Still Be Stolen, At Scale”
PawnGuru Raises $2.5M Series A, Plans Expansion into Latin America
PawnGuru, a startup focused on digitizing the pawn shop experience, has raised $2.5 million in a Series A funding round. The investment was led by the Impact America Fund and Invest Detroit, with additional contributions from angel investors. Since its inception in 2015, the company has raised a total of $3.7 million. Jordan Birnholtz, PawnGuru’s … Continue reading “PawnGuru Raises $2.5M Series A, Plans Expansion into Latin America”
Doyenne, Epic, Cellectar, & More: This Week’s Wisconsin Watchlist
Keep up with news from Wisconsin’s innovation community with these recent headlines: —Doyenne Group, an organization that supports Wisconsin-based companies led by women and people of color, enrolled seven startups in its new business accelerator, the Wisconsin State Journal reported. The inaugural program reportedly kicked off in January and will run for 12 months. According … Continue reading “Doyenne, Epic, Cellectar, & More: This Week’s Wisconsin Watchlist”
Affectiva Launches A.I. Tech to Help Cars Sense Your Emotions
Efforts to develop self-driving vehicles have largely focused on tracking what’s going on outside the cars—think laser-based sensors to track other vehicles and digital mapping technologies to help navigate. Now, the industry is turning some of its attention to technologies that sense what’s going on inside the vehicle. An initial goal is to better monitor … Continue reading “Affectiva Launches A.I. Tech to Help Cars Sense Your Emotions”
U.K. Healthcare Entrepreneur Buys Radiology A.I. Startup Behold.AI
Behold.AI, a Madison, WI-based startup developing software that flags abnormalities in medical images to help radiologists make diagnostic decisions, said it was acquired by a London-based healthcare entrepreneur. The buyer was Simon Rasalingham. He founded Medica Group, a U.K. provider of tele-radiology services, in 2003 and sold it in 2013. Now, Rasalingham and others on … Continue reading “U.K. Healthcare Entrepreneur Buys Radiology A.I. Startup Behold.AI”
TCR² Raises $125M to Move Ahead with Its Cell Therapy, CAR-T’s Cousin
TCR² Therapeutics has raised a $125 million Series B round to push ahead with live, cancer-fighting T cells. T cell receptor (TCR) therapies, the firm’s area of focus, have not progressed as far as higher-profile CAR-T treatments, despite similarities. Few TCRs have advanced into clinical studies, while two CAR-T cell therapies, one from Novartis (NYSE: … Continue reading “TCR² Raises $125M to Move Ahead with Its Cell Therapy, CAR-T’s Cousin”
Startup Bloomscape Aims to Make Urban Houseplant Delivery Blossom
Being a Detroit apartment-dweller can be tough on a person who is used to being surrounded by more verdant landscapes. I consider myself a member of this tribe, and last summer, I was so restless that I grew some cherry tomatoes from seed in my living room. This Frankenstein’s monster of a plant climbed over … Continue reading “Startup Bloomscape Aims to Make Urban Houseplant Delivery Blossom”
Alder BioPharma’s Schatzman Steps Down as CEO by “Mutual Decision”
[Updated 3/21/18, 8:42 a.m. EDT. See below.] Alder BioPharmaceuticals is now looking for a new chief executive, just as the company readies plans to file for FDA approval of its lead drug for migraine headaches. Randy Schatzman (pictured above, right) is out as Alder’s (NASDAQ: [[ticker:ALDR]]) CEO, the Bothell, WA, company announced Tuesday after the markets … Continue reading “Alder BioPharma’s Schatzman Steps Down as CEO by “Mutual Decision””
Uber’s Driverless Fatality Sparks Fallout and Finger-Pointing
The fallout from Uber’s autonomous car fatality continues today, with a number of new developments. We’re recapping them very quickly here, and adding two reaction quotes we received from Carrie Morton, deputy director of the University of Michigan’s Mcity research facility and test bed, and Shahin Farshchi, a partner at Lux Capital, a Silicon Valley … Continue reading “Uber’s Driverless Fatality Sparks Fallout and Finger-Pointing”
SKU, Austin Consumer Goods Accelerator, Kicks Off Sixth Class
[Updated 3/21/18 11:05 am. See below.] Austin—SKU, a retail and consumer packaged goods-focused accelerator, launched its latest class of startups on Tuesday. SKU was founded as Incubation Station in 2012 by Austin entrepreneur Shari Wynne. SKU invests $10,000 in each company and takes an equity stake of 5 percent. [Updated with new figures on the investment … Continue reading “SKU, Austin Consumer Goods Accelerator, Kicks Off Sixth Class”
AI Chip Startup Mythic Reaps $40M from SoftBank, Lockheed Venture Arms
Mythic, which last year unveiled its novel computer chip designed for artificial intelligence, announced today that it has raised $40 million in a Series B fundraising round led by the venture capital arm of Japanese telecom and tech giant SoftBank. Mythic, based in both Redwood City, CA, and Austin, TX, is one of the upstart … Continue reading “AI Chip Startup Mythic Reaps $40M from SoftBank, Lockheed Venture Arms”
Arena Pharma’s Revamp Gains Traction With New Data For GI Drug
Arena Pharamceuticals’ plan to reshape itself is advancing with new data for an ulcerative colitis drug that could pose a threat to biotech giant Celgene. San Diego, CA-based Arena (NASDAQ: [[ticker:ARNA]]) said late Monday that its experimental compound etrasimod has succeeded in a Phase 2 trial in patients with moderate-to-severe ulcerative colitis, a form of … Continue reading “Arena Pharma’s Revamp Gains Traction With New Data For GI Drug”
CytoBioScience Raises $1.5M for “Intended Merger,” Document Says
San Antonio — [Updated 3/23/18, 4:58 p.m. See below.] CytoBioScience, a bioscience company that canceled plans to merge with a publicly traded business last year, made new merger plans this week, which the company revealed publicly Friday. Fort Collins, CO-based WestMountain Co. merged into CytoBioscience on March 19, according to a document filed with the SEC … Continue reading “CytoBioScience Raises $1.5M for “Intended Merger,” Document Says”
Uber Suspends Driverless Testing After Fatal Accident in Arizona
The inevitable has happened. An autonomous Uber car hit a pedestrian in Tempe, AZ, and caused her death. The ride-hailing giant has suspended testing on driverless cars in Arizona, Pittsburgh, San Francisco, and Toronto, according to the New York Times. This is the first known death of a pedestrian caused by a self-driving car on … Continue reading “Uber Suspends Driverless Testing After Fatal Accident in Arizona”
Job Destroyers or Helpers? Amazon, FedEx Hiring More Robots & Humans
Advances in robotics and artificial intelligence technologies have stoked fears that machines are coming for humans’ jobs in a variety of industries. Some executives of robotics companies have tried to allay those concerns, arguing that in many cases, people’s roles will evolve, but technology won’t eliminate their jobs completely. A report by The New York … Continue reading “Job Destroyers or Helpers? Amazon, FedEx Hiring More Robots & Humans”
Exact Sciences: Harry Connick Jr., Wife to Lead New Cancer Campaign
[Updated 3/19/18 5:06 p.m. See below.] Two months after Exact Sciences said it planned to introduce a new celebrity spokesperson to plug its stool-based screening test for colorectal cancer, the company has pulled back the curtain on who it will be. The recording artist and entertainer Harry Connick Jr. will attempt to raise awareness about … Continue reading “Exact Sciences: Harry Connick Jr., Wife to Lead New Cancer Campaign”
TwoXAR Lands $10M to Ramp Up AI-Based Drug Discovery Work
Drug discovery startup twoXAR has raised $10 million in funding to support its efforts to build a pipeline of drug candidates found by its proprietary artificial intelligence technology. SoftBank Ventures led the Series A round of financing, and was joined by the Andreessen Horowitz Bio Fund and OS Fund. Palo Alto, CA-based twoXAR has developed … Continue reading “TwoXAR Lands $10M to Ramp Up AI-Based Drug Discovery Work”
Ford Leads $65M Round for 3D Printing Startup Desktop Metal
Desktop Metal, the well-funded metal 3D-printing startup, is adding more money to its coffers from another high-profile investor. Ford has led a new $65 million investment round in Burlington, MA-based Desktop Metal, the company announced Monday. Earlier backer Future Fund also contributed to the round. Ford chief technology officer Ken Washington is joining Desktop Metal’s … Continue reading “Ford Leads $65M Round for 3D Printing Startup Desktop Metal”
Anti-Aging Startup Unity Bio Grabs $55M, Plans First Clinical Trial
[Updated, 3/19/18, 6:32 p.m. See below.] Unity Biotechnology is trying to treat age-related diseases where it says many of them start: the production of the cellular proteins that lead to the deterioration associated with age. The startup is gearing up to test its first drug in humans and it now has $55 million to back … Continue reading “Anti-Aging Startup Unity Bio Grabs $55M, Plans First Clinical Trial”
CMS Starts to Cover Broad Cancer DNA Tests, Boosting Foundation, Thermo
The Centers for Medicare & Medicaid Services, which administers the federal Medicare insurance program, will begin covering FDA-approved diagnostic tests that scan tumors for a range of genetic mutations. The news is a boost for companies like Foundation Medicine and Thermo Fisher Scientific, who are among the few firms with such tests on the market. … Continue reading “CMS Starts to Cover Broad Cancer DNA Tests, Boosting Foundation, Thermo”
Five Unlikely Competitors in the Race for Driverless Cars: Slideshow
Now that we know autonomous vehicles are going to be a real thing, we are watching an entirely new industry unfold. Because of the sweeping societal changes that self-driving cars are likely to bring—they’ll change transportation the most, but also could affect the way we care for the elderly, live in our homes, deliver goods … Continue reading “Five Unlikely Competitors in the Race for Driverless Cars: Slideshow”
Join Feng Zhang, Eric Lander, Craig Mello & More at What’s Hot in Boston Biotech
Time is running out to take advantage of the super saver discount for “What’s Hot in Boston Biotech” on May 16. The forum will take place at The Broad Institute of MIT & Harvard in Cambridge, MA. Several biomedical milestones were achieved in 2017, among them the long-awaited scientific validation of RNA interference, and the … Continue reading “Join Feng Zhang, Eric Lander, Craig Mello & More at What’s Hot in Boston Biotech”
Alzheon Files for IPO to Fund Studies of Amyloid Alzheimer’s Drug
Alzheon is turning to the public markets to finance a new round of testing for its experimental Alzheimer’s disease drug. The Framingham, MA, company set a preliminary $80 million target for its initial public stock offering. That figure is expected to change as Alzheon determines how many shares to sell and at what price. But … Continue reading “Alzheon Files for IPO to Fund Studies of Amyloid Alzheimer’s Drug”
Four Developments to Watch as Embattled Qualcomm Seeks Path Forward
[Updated 3/16/18 3:30 pm. See below.] There’s never a dull moment these days at Building N, the San Diego headquarters of Qualcomm (NASDAQ: [[ticker:QCOM]]), the wireless technology giant and the world’s biggest maker of the advanced components used in smartphones. In the days since President Donald Trump preemptively killed Broadcom’s (NASDAQ: [[ticker:AVGO]]) unsolicited offer to … Continue reading “Four Developments to Watch as Embattled Qualcomm Seeks Path Forward”
Dohmen’s $1.6M Helps i.c. stars Expand to Milwaukee, Other Cities
A Chicago-based organization that teaches technology skills to young adults who have overcome adversity says it plans to begin holding programs in Milwaukee. Inner-City Computer Stars Foundation, or i.c. stars, says it plans to team up with companies in Milwaukee to place hundreds of young adults in jobs that require knowledge of computing concepts and … Continue reading “Dohmen’s $1.6M Helps i.c. stars Expand to Milwaukee, Other Cities”
After Quiet Deal, Music Therapy Startup Sync Project Now Part of Bose
A quick update on an intriguing Boston startup: Sync Project, which said on its blog that it is “developing music as precision medicine,” has been acquired by audio giant Bose. The deal was quietly announced last month, and no terms were disclosed. Sync Project said its public services would remain open and free to use, … Continue reading “After Quiet Deal, Music Therapy Startup Sync Project Now Part of Bose”
Bitcoin at Rodeo Houston, TurnKey Gets $31M, SXSW & More TX Tech
Here are some innovation tidbits from around the state: —Cryptocurrency seems to be everywhere, so maybe I shouldn’t have been surprised to see a “Bitcoin Accepted” sign at a food concession at Rodeo Houston this week (picture to the right.) Mark Zable, owner of Finer Diner, says he’s been into bitcoin the last couple of … Continue reading “Bitcoin at Rodeo Houston, TurnKey Gets $31M, SXSW & More TX Tech”
Bio Roundup: DIY Biohacking, PCSK9 Data, Solid Setback & More
Drug prices are top of mind for many patients. Some of them have to cut back on basic needs just to pay for treatments that seem to rise in price each year. That made a recent announcement by Regeneron Pharmaceuticals particularly unusual. The Tarrytown, NY, drugmaker plans to cut the price of its cholesterol-lowering drug … Continue reading “Bio Roundup: DIY Biohacking, PCSK9 Data, Solid Setback & More”
Harnessing the Power of Artificial Intelligence
Voice recognition lets people benefit from artificial intelligence (AI) almost without a second thought – and this technology is increasingly popular. Amazon had record sales of its Alexa device last year, with millions sold over the holiday season. Google reports that since last October, it has sold at least one Google Home smart speaker every … Continue reading “Harnessing the Power of Artificial Intelligence”
Boston Tech Watch: Raytheon, Palantir, CyberArk, CIC, Nectome & More
[Updated 3/16/18, 8:59 am. See below.] Here are some notable recent headlines from the Boston-area tech scene, including Raytheon and Palantir teaming up for a huge Army contract, another CyberArk acquisition, and a startup that wants to digitally archive your mind. Read on for details. —Waltham, MA-based defense contractor Raytheon (NYSE: [[ticker:RTN]]) and Palantir Technologies—the … Continue reading “Boston Tech Watch: Raytheon, Palantir, CyberArk, CIC, Nectome & More”
Inclusion Gets Real: A New Level of Diversity Discourse at SXSW
Austin—There’s no question that humans have plenty of biases that carry on from generation to generation, from sexism to racism to homophobia. Those problems have carried over to machines, too—bias in the data fed to computer algorithms is an issue that comes up often. Former Stanford computer science professor Daphne Koller recalled an anecdote she … Continue reading “Inclusion Gets Real: A New Level of Diversity Discourse at SXSW”
Arcus Bio Pulls Off IPO, Raises $120M for Cancer Immunotherapies
Arcus Biosciences has raised $120 million from an initial public offering as the cancer immunotherapy developer looks ahead to reporting its first clinical data for its two lead drugs later this year. Hayward, CA-based Arcus priced its offering of 8 million shares at $15 apiece, at the high end of the $13 to $15 per … Continue reading “Arcus Bio Pulls Off IPO, Raises $120M for Cancer Immunotherapies”
Ionis Sends Nerve Drug to Spinout Akcea as Battle with Alnylam Looms
Ionis Pharmaceuticals hasn’t gone far to find a new home for a therapy that could soon be one of two approved treatments for a rare neurodegenerative disease called transthyretin amyloidosis. It’s handing the drug, known as inotersen, to its own spinout, Akcea Therapeutics. In a deal being announced this morning, Cambridge, MA-based Akcea (NASDAQ: [[ticker:AKCA]]) … Continue reading “Ionis Sends Nerve Drug to Spinout Akcea as Battle with Alnylam Looms”
Xconomy’s Napa Summit Is June 14-15: Request Your Invite Today!
Year after year, Xconomy has gathered exemplary business leaders, investors, and far-seeing technologists to our most prestigious event—The Napa Summit. This year is no different. Come join us in the heart of wine country on June 14 and 15 to listen to visionary speakers and connect with fellow innovators. The Napa Summit is by invitation-only, … Continue reading “Xconomy’s Napa Summit Is June 14-15: Request Your Invite Today!”
Mighty AI’s Training Data Helps Mcity Drive Mobility Projects Faster
Last June, when Seattle-based startup Mighty AI opened a second office in Detroit, the company said it chose the Motor City over Silicon Valley because of its proximity to automotive customers and a firm belief in the future of autonomous navigation. Mighty AI has just deepened its ties to the Great Lakes State with the … Continue reading “Mighty AI’s Training Data Helps Mcity Drive Mobility Projects Faster”