Twenty North American cities have made the final cut in Amazon’s search for the location of its second headquarters, or HQ2, and the Seattle tech giant has the world on pins and needles as it finishes deliberations. With a project so large in scope—HQ2 is expected to create thousands of jobs and generate billions in … Continue reading “Forget Austin or Toronto, Indianapolis Has What It Takes to Win HQ2”
Category: National
With Qualcomm Buyout Looming, EvoNexus Aims for Self-Sufficiency
In the nine years since San Diego’s EvoNexus incubator began amid the great recession of 2009, CEO Rory Moore has emphasized it is a pro bono program—startup teams admitted to the technology accelerator get free office space and other perks, with no strings attached. EvoNexus operates as a non-profit, which is possible because dozens of … Continue reading “With Qualcomm Buyout Looming, EvoNexus Aims for Self-Sufficiency”
Carbonite Buys Data Backup Competitor Mozy From Dell for $145.8M
Carbonite has agreed to buy competing online data backup service Mozy from Dell Technologies for $145.8 million, according to an announcement about the company’s 2017 financial results. Carbonite said the deal expands its customer base and the number of market segments to which it can sell. Boston-based Carbonite has been acquiring or planning to buy … Continue reading “Carbonite Buys Data Backup Competitor Mozy From Dell for $145.8M”
Fitbit Snaps Up Twine Health to Connect Dots for Patients, Doctors
Wearable device maker Fitbit is extending its reach into hospitals and doctors’ offices with the planned acquisition of Twine Health, an MIT spinout that sells healthcare coaching and collaboration software. The purchase price wasn’t disclosed in a press release announcing the deal Tuesday. The transaction is expected to close during the first quarter of this … Continue reading “Fitbit Snaps Up Twine Health to Connect Dots for Patients, Doctors”
FDA’s Rachel Sherman on Right to Try, Succession Trouble & More
The opioid crisis. Right to Try legislation. The first human trials of CRISPR-Cas9 gene editing technology. These are just a few of the many topics at the feet of the FDA this year. Speaking at the BIO CEO & Investor Conference in New York on Tuesday, principal deputy commissioner Rachel Sherman, the FDA’s second in … Continue reading “FDA’s Rachel Sherman on Right to Try, Succession Trouble & More”
Stem Cell Firm Cellular Dynamics to Provide Heart Cells to Takeda
Fujifilm said it plans to use stem cells developed by Cellular Dynamics International, a Wisconsin-based company it owns, as part of a new partnership between Fujifilm and Takeda Pharmaceutical that’s aimed at developing regenerative medicine therapies. Takeda and Fujifilm, both headquartered in Japan, recently signed a contract giving Takeda the global commercialization rights to therapies … Continue reading “Stem Cell Firm Cellular Dynamics to Provide Heart Cells to Takeda”
UT Health San Antonio Awards $200K to Fill Early Stage Funding Gaps
San Antonio — [Corrected 2/14/18, 10:45 a.m. See below.] Money is one of the primary hurdles for innovators and entrepreneurs hoping to turn an idea into a product—particularly in the life sciences, where a drug or device can easily fail despite millions spent on research. The University of Texas Health Science Center at San Antonio has … Continue reading “UT Health San Antonio Awards $200K to Fill Early Stage Funding Gaps”
Eli Lilly Builds Case to Expand Immune Drug’s Use to Spinal Arthritis
An Eli Lilly drug first approved to treat psoriasis is delivering encouraging data from a late-stage study testing it as a potential new treatment for a form of arthritis affecting the spine. Indianapolis-based Lilly (NYSE: [[ticker:LLY]]) is trying to expand use of its drug ixekizumab (Taltz) to treat ankylosing spondylitis (AS), a condition that causes … Continue reading “Eli Lilly Builds Case to Expand Immune Drug’s Use to Spinal Arthritis”
E-ZPass Links With PayByCar to Advance In-Vehicle Payments
In the future, you might pay for gas or a parking spot by touching a button on your vehicle’s dashboard. Car companies are already starting to introduce these kinds of in-vehicle payments systems. But it’ll likely take years before they come standard in most new automobiles, and even longer for cars equipped with such systems … Continue reading “E-ZPass Links With PayByCar to Advance In-Vehicle Payments”
Vertex Pharma Gets FDA Approval for Combo CF Drug, Sets $292,000 Price
[Updated, 2/13/18, see below] The FDA has approved a new Vertex Pharmaceuticals cystic fibrosis drug, clearing the way for the Boston company to bring to the market its third treatment for the inherited disorder. The new Vertex (NASDAQ: [[ticker:VRTX]]) drug pairs the already approved ivacaftor (Kalydeco) with the newly approved drug tezacaftor. Vertex set a … Continue reading “Vertex Pharma Gets FDA Approval for Combo CF Drug, Sets $292,000 Price”
Trump Budget Touts Lower Drug Prices, But No Medicare Negotiation
As president-elect, Donald Trump in January 2017 slammed drug companies for “getting away with murder” and said he supported Medicare negotiation. He vowed during last month’s State of the Union speech that drug prices “will come down.” Today, his administration’s fiscal 2019 budget proposal laid out what it calls a “comprehensive” strategy to lower drug … Continue reading “Trump Budget Touts Lower Drug Prices, But No Medicare Negotiation”
Foxconn, Gener8tor, URP, & More: This Week’s Wisconsin Watchlist
Keep up with the latest news from Wisconsin’s innovation community with these recent headlines: —Foxconn purchased a seven-story office building in downtown Milwaukee that will serve as the Taiwanese multinational’s Wisconsin headquarters, according to a news release issued by Gov. Scott Walker. Foxconn, which is perhaps best known for assembling iPhones, iPads, and other gadgets … Continue reading “Foxconn, Gener8tor, URP, & More: This Week’s Wisconsin Watchlist”
Buying Shoes? Digital Stylists Use A.I. to Suggest Clothing to Match
The black skirt had multiple personas. The fact that it was made of leather gave it an edgy vibe, but its A-line fit-and-flair cut was more flirty and feminine. “I fell in love with it,” says Michelle Bacharach, co-founder of FindMine. “But as soon as I brought it home, I wondered, ‘how do I wear … Continue reading “Buying Shoes? Digital Stylists Use A.I. to Suggest Clothing to Match”
Execs Talk Hurdles As Immunotherapy Combos, CAR-T Launches Progress
With multiple products on the market and many more coming, it’s easy to think that cancer immunotherapy has arrived. In reality, however, we’ve only just begun to figure out how to coax the immune system into killing cancer. That’s why a mad dash is on to expand its reach, and a panel of experts invested … Continue reading “Execs Talk Hurdles As Immunotherapy Combos, CAR-T Launches Progress”
Fintech Startup Autobooks Raises $10M from Group of Midwestern VCs
Autobooks, the Detroit-based financial technology startup spun out of Billhighway in 2015, has raised $10 million in a Series A1 funding round. Contributors included Draper Triangle, Baird Capital, Detroit Venture Partners, Invest Michigan, and CU Solutions Group. Steve Robert, CEO of Autobooks, says this latest round comes a few months after the company raised a … Continue reading “Fintech Startup Autobooks Raises $10M from Group of Midwestern VCs”
As Trump Budget Addresses Opioid Crisis, BIO Report Reveals Scarce Pain Drug Development
[Updated 2/12/2018, 1:37pm ET, see below.] With the opioid epidemic showing little sign of letting up, new ways of treating chronic pain are desperately needed. But the development of non-addictive, non-opioid pain drugs lags far behind drug R&D for other diseases (I wrote a few months ago about why that is), and a report from … Continue reading “As Trump Budget Addresses Opioid Crisis, BIO Report Reveals Scarce Pain Drug Development”
Cybersecurity Startup Infocyte Lands $5.2M, Hires Dell GM as CEO
San Antonio—Internet cybersecurity startup Infocyte has added a $5.2 million Series B round of funding to build out sales of its flagship product, and has hired a new CEO. Curtis Hutcheson, the former general manager of Dell’s software businesses focused on security, is taking the helm at San Antonio-based Infocyte, which sells software that automates … Continue reading “Cybersecurity Startup Infocyte Lands $5.2M, Hires Dell GM as CEO”
XebiaLabs Nabs $100M+ From Accel & Others for Software Tools
Boston-area companies are cashing in on the demand for tools that can help large companies more efficiently develop and deploy software. The latest beneficiary is Burlington, MA-based XebiaLabs, which today announced it pulled in an investment of more than $100 million from a group of backers that includes Susquehanna Growth Equity and Accel. To date, … Continue reading “XebiaLabs Nabs $100M+ From Accel & Others for Software Tools”
Axovant CEO Hung, COO McCourt Resign After Brain Drug’s Failures
Axovant Sciences CEO David Hung has left the company, a move that comes a month after the firm halted development of a brain drug that failed in clinical trials. The shakeup of Basel, Switzerland-based Axovant (NASDAQ: [[ticker:AXON]]) includes the resignations of president and chief operating officer Marion McCourt, and three members of the board of directors. … Continue reading “Axovant CEO Hung, COO McCourt Resign After Brain Drug’s Failures”
Harvard Taps Former Tufts, MIT Leader Bacow as Next President
Harvard University didn’t have to go far to find its next leader. On Sunday, the school named Lawrence Bacow its 29th president. Bacow is currently working as a “leader-in-residence” at the Harvard Kennedy School of Government’s Center for Public Leadership. He was on the Cambridge, MA-based university’s presidential search committee before stepping down in order … Continue reading “Harvard Taps Former Tufts, MIT Leader Bacow as Next President”
ClearMotion, Ori, Owl Labs CEOs Join Robo Madness April 12 at iRobot
The program for our fourth annual Robo Madness conference in Boston is almost set. In case you’ve been hiding under a rock lately (understandable), it’s all happening on the afternoon of April 12 at iRobot headquarters in Bedford, MA. We’re pleased to announce some new speakers in the program: —ClearMotion CEO Shakeel Avadhany (ClearMotion raised … Continue reading “ClearMotion, Ori, Owl Labs CEOs Join Robo Madness April 12 at iRobot”
FDA Nod for NorthStar Device Clears Way to Make Medical Radioisotope
A Wisconsin company has moved one step closer to becoming the first domestic producer in decades of a crucial medical radioisotope after receiving a key approval from the FDA on Thursday. The agency approved a device developed by Beloit, WI-based NorthStar Medical Radioisotopes that could be key to supplying a radioisotope whose scarcity has sparked … Continue reading “FDA Nod for NorthStar Device Clears Way to Make Medical Radioisotope”
Boston Tech Watch: Eric Schmidt’s MIT Role, CIC’s New Digs & More
[Updated 2/9/18, 3:32 pm. See below.] Here are some of the latest headlines from the Boston-area tech scene: —Humatics, a Cambridge, MA-based developer of “microlocation” and analytics software for robots, grabbed $7.2 million from investors, according to an SEC filing. The new capital arrives a few months after Humatics announced an $18 million Series A … Continue reading “Boston Tech Watch: Eric Schmidt’s MIT Role, CIC’s New Digs & More”
Uber and Waymo Reach $245M Settlement in Driverless Tech Lawsuit
After months of breathless anticipation and a week of bro-tastic testimony, the Waymo v. Uber lawsuit, in which Google’s driverless tech arm sued the ride-hailing pioneer over allegedly stolen autonomous vehicle technology, is over. In a surprise move, Uber announced today that it has settled with Waymo, offering the company 0.34 percent of Uber’s equity at its current … Continue reading “Uber and Waymo Reach $245M Settlement in Driverless Tech Lawsuit”
Think3 Launches $1B Fund to Help Founders “Take More Shots on Goal”
Austin—Serial entrepreneur Andy Tryba has launched a $1 billion private equity fund in Austin aimed to help “modestly growing” software companies find exits. “We developed this fund to enable founders to take more shots on goal,” Tryba, Think3’s founder and CEO, said in a press release. “Founders should think of ‘time’ as their portfolio—making the call … Continue reading “Think3 Launches $1B Fund to Help Founders “Take More Shots on Goal””
Bio Roundup: Lung Cancer Questions, Migraine Races, HIV Battle & More
The top biopharma story of the week involves the fast-moving field of lung cancer, which, as we’ve written previously, has several key trials reading out in 2018. A big domino fell this week: data from a two-drug immunotherapy combination developed by Bristol-Myers Squibb. But the results, touted as positive, left more questions than answers. First, … Continue reading “Bio Roundup: Lung Cancer Questions, Migraine Races, HIV Battle & More”
How Techies Can Get Engaged in Seattle
I meet a lot of tech workers, especially newcomers to Seattle, who want to get involved in the community. Many nonprofit leaders ask me how to engage these techies to volunteer and to give. Techies are motivated to volunteer for the following reasons: expand their network; get to know their community; exercise their skills outside … Continue reading “How Techies Can Get Engaged in Seattle”
Teva Migraine Drug Likely Delayed by Manufacturing Trouble
Teva Pharmaceutical’s bid to bring a new migraine drug to the market faces a possible delay due to manufacturing problems found with one of the company’s partners, and observers are skeptical about whether Teva will be able to get it over the finish line. The FDA was set to issue a decision about Teva’s (NYSE: … Continue reading “Teva Migraine Drug Likely Delayed by Manufacturing Trouble”
4490 Ventures Raises $49M Fund to Support Startups in Midwest
4490 Ventures, a Madison, WI-based venture capital firm that supports startups in the Midwest, has raised $49 million for its second fund, according to a document filed with federal securities regulators on Wednesday. Greg Robinson, managing director at 4490, says the document is an “interim filing” and 4490 plans to finish raising its second fund … Continue reading “4490 Ventures Raises $49M Fund to Support Startups in Midwest”
Genomenon and Saphetor Announce Collaboration to Share Genomic Data
Genomenon, a University of Michigan spinout that has created a search engine for genomics literature, this week announced a collaboration with Saphetor, a Swiss company that offers precision medicine analysis. Genomenon CEO Mike Klein says the partnership broadens the productivity of each company’s platform and benefits their users. Last year, Genomenon went live with Mastermind, … Continue reading “Genomenon and Saphetor Announce Collaboration to Share Genomic Data”
Instant Gratification: Whole Foods, Target Offer Same-Day Delivery
[Updated 2/8/18, 1:39 pm.] The race is on to sign up consumers seeking same-day delivery of groceries, household items, and personal goods. Late on Wednesday, Amazon (NASDAQ: [[ticker:AMZN]]) announced it has started free two-hour delivery of products from Whole Foods Market, the most significant example of the e-commerce giant using technology at the Austin, TX-based … Continue reading “Instant Gratification: Whole Foods, Target Offer Same-Day Delivery”
LogMeIn to Buy Jive For $342M+, Boost Business Communications Tools
LogMeIn is getting more aggressive in the business communications market, inking a deal to acquire Jive Communications for at least $342 million in cash. Boston-based LogMeIn (NASDAQ: [[ticker:LOGM]]) said it could pay an additional $15 million in cash if Jive meets certain milestones during the two years following the deal’s closing, expected to happen in … Continue reading “LogMeIn to Buy Jive For $342M+, Boost Business Communications Tools”
Rep. Jared Polis Asks Congress to Disclose Cryptocurrency Holdings
Members of Congress are required to disclose many details about their personal finances. Jared Polis, a Democratic U.S. Representative from Colorado—and a successful Internet entrepreneur—contends that elected representatives and certain staffers should also be required to disclose cryptocurrencies like Bitcoin and Ethereum, even though that’s not necessarily happening now. Polis wants it to become a … Continue reading “Rep. Jared Polis Asks Congress to Disclose Cryptocurrency Holdings”
Immelt Named Athenahealth Chairman as Firm’s Transition Rolls On
Former GE chief executive Jeff Immelt is keeping busy. Healthcare IT firm Athenahealth said Wednesday that Immelt (pictured on the left) has been appointed chairman of its board of directors, effective immediately. Watertown, MA-based Athenahealth (NASDAQ: [[ticker:ATHN]]) said Immelt will make a financial investment in the company (an undisclosed amount) and “plans to purchase approximately … Continue reading “Immelt Named Athenahealth Chairman as Firm’s Transition Rolls On”
Battery Startup Ionic Materials Gets $65M Jolt From Nissan & Others
[Updated 2/16/18, 5:27 pm. See below.] Big automakers are betting that solid-state battery technology from Massachusetts-based startup Ionic Materials could eventually challenge the standard lithium-ion batteries used in today’s electric vehicles. Woburn, MA-based Ionic announced Wednesday it secured $65 million in a Series C funding round. The investors include Alliance Ventures—a venture capital fund backed … Continue reading “Battery Startup Ionic Materials Gets $65M Jolt From Nissan & Others”
Detroit Needs Seed-Stage Capital More Than VC Disruption
Big changes are happening in the venture asset class: SoftBank somehow wants to put $880 billion to work in the next 10 years; Sequoia (and the other flagship growth firms) are trying to figure out how to compete and are raising huge funds; Social Capital is trying to make going public easier through blank check … Continue reading “Detroit Needs Seed-Stage Capital More Than VC Disruption”
Pompe Disease Patients on Amicus Drug Continue to Improve in Study
Patients treated with an experimental Amicus Therapeutics drug for Pompe disease continued to show improvement in their ability to walk, move, and breathe after as long as one year on the therapy, according to the latest clinical trial results from the rare disease drug developer. The open-label study is small, testing the drug in just … Continue reading “Pompe Disease Patients on Amicus Drug Continue to Improve in Study”
Fiserv to Net $395M from Partial Sale of Business to Warburg Pincus
Fiserv, a financial technology business that has fueled its growth in part through a series of mergers and acquisitions, said Wednesday that the private equity firm Warburg Pincus purchased a controlling interest in Fiserv’s lending unit. Brookfield, WI-based Fiserv (NASDAQ: [[ticker:FISV]]) said Warburg Pincus, of New York, acquired a 55 percent share in Fiserv’s Lending … Continue reading “Fiserv to Net $395M from Partial Sale of Business to Warburg Pincus”
Theravance Snares $100M From Janssen in Stomach Drug Deal
Theravance Biopharma is teaming up with Janssen Biotech to develop a group of drugs for intestinal diseases such as ulcerative colitis and Crohn’s. Dublin, Ireland based-Theravance Biopharma (NASDAQ: [[ticker:TBPH]]), which has U.S. operations in South San Francisco, CA, will receive $100 million up front in the deal. The company could gain up to $900 million … Continue reading “Theravance Snares $100M From Janssen in Stomach Drug Deal”
Akamai Lays Off 400, Scales Back R&D Projects Amid Investor Pressure
Akamai Technologies has laid off about 400 people, or 5 percent of its global staff, as it pares research and development initiatives—primarily in its video content delivery division—that haven’t translated into commercial success. The cuts were disclosed Tuesday in a press release and conference call with investor analysts about Cambridge, MA-based Akamai’s (NASDAQ: [[ticker:AKAM]]) 2017 … Continue reading “Akamai Lays Off 400, Scales Back R&D Projects Amid Investor Pressure”
As Rackspace Battled and Befriended Amazon, San Antonio Tech Matured
San Antonio—The Alamo city has never received much credit for its work in technology. One local executive likes to say that San Antonio works on the plumbing of the Internet. Compared to Austin, a renowned tech capital about 90 miles to the north of San Antonio, that description seems pretty accurate. Austin holds hip tech … Continue reading “As Rackspace Battled and Befriended Amazon, San Antonio Tech Matured”
Texas Tech: RigUp Funds, TMCx Startups, SpaceX Launch & HQ2 Rumors
The latest cold front that’s swept through Texas doesn’t help the hump day blues, but distract yourself with another cup of something warm and catch up with the innovation news in Texas’s startup ecosystem. —Austin energy startup RigUp raised $15.8 million in a Series B round, according to a company press release. Investors include Quantum Energy … Continue reading “Texas Tech: RigUp Funds, TMCx Startups, SpaceX Launch & HQ2 Rumors”
Ex-MAP Execs Start Xoc with Plans to Leapfrog New Migraine Drugs
Patients should have better ways to prevent migraine headaches, says Scott Borland, president and CEO of Xoc Pharmaceuticals. Current generic drugs bring unwanted side effects. New options are on the way, but they will likely be expensive. Los Gatos, CA-based Xoc is now in the mix too. Xoc is developing a pill meant to prevent … Continue reading “Ex-MAP Execs Start Xoc with Plans to Leapfrog New Migraine Drugs”
Big Car-Auction Firm KAR Buys SF Mobility Support Startup Stratim
With an eye toward a greater role in the future of mobility services, the big Indiana used-car auction company KAR announced Wednesday it acquired Stratim, a software startup that organizes maintenance and repairs for car-sharing fleets. Carmel, IN-based KAR (NYSE: [[ticker:KAR]]) says Stratim not only augments its core auction business, but also bolsters its advances … Continue reading “Big Car-Auction Firm KAR Buys SF Mobility Support Startup Stratim”
Two Weeks Until San Antonio Tech: Seizing the Momentum—Win Tickets!
In just a few weeks, Xconomy is hosting it’s first public event in the Alamo City, San Antonio Tech: Seizing the Momentum. It’s all happening on Feb. 20 at the Pearl Stable—take a look at the agenda and full line up of speakers. How can the region become a national leader in the industry? We … Continue reading “Two Weeks Until San Antonio Tech: Seizing the Momentum—Win Tickets!”
At Verastem, Infinity’s Former Blood Cancer Drug Heads to FDA
Verastem has filed for FDA approval of duvelisib, a blood cancer drug the Needham, MA, company took a shot on in a 2016 bargain deal with Infinity Pharmaceuticals. Verastem will seek approval of duvelisib as a treatment for patients who have one of three different blood cancers—chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma, or follicular … Continue reading “At Verastem, Infinity’s Former Blood Cancer Drug Heads to FDA”
With New Test, Schadt’s Sema4 Aims to Broaden Scope of Newborn Screening
Sema4, the company that computational geneticist Eric Schadt spun out of the Icahn School of Medicine at Mount Sinai last year, is making a new bet this morning. The New York and Connecticut startup is launching a diagnostic, Sema4 Natalis, meant to go well beyond the typical tests hospitals run on newborn babies to check … Continue reading “With New Test, Schadt’s Sema4 Aims to Broaden Scope of Newborn Screening”
IU Health Expands Precision Genomics Program for Cancer Patients
When Gwen Brack was a junior in college, she was diagnosed with stage IV rectal cancer. She sought treatment, but the cancer soon returned and then spread to her liver and bladder. She underwent rounds of chemotherapy and nine surgeries, but the cancer kept growing. Eventually, she was referred to Indiana University Health’s precision genomics … Continue reading “IU Health Expands Precision Genomics Program for Cancer Patients”
Medical and Patient Groups Warn Congress Against “Right to Try”
Dozens of medical organizations and patient advocacy groups are pushing back against so-called “right-to-try” legislation that passed the Senate in August and is now under consideration in the House. An open letter sent today to House leaders is the latest opposition to the Republican-led push to give desperate patients access to experimental drugs without FDA … Continue reading “Medical and Patient Groups Warn Congress Against “Right to Try””
Virtual Assistant Startup iDAvatars to Shut Down, Seek Buyer
Sophisticated virtual assistants could become powerful tools in healthcare, finance, and other sectors, but the market for them is still relatively small and fraught with potential pitfalls—especially for startups. The story of iDAvatars, a Mequon, WI-based company that develops software allowing users to interact with virtual assistants, is one of the latest reminders. The firm … Continue reading “Virtual Assistant Startup iDAvatars to Shut Down, Seek Buyer”