Walmart’s tech incubator in Silicon Valley, Store No 8, has acquired Spatialand, a virtual reality software firm, as its third portfolio company. While much of the focus in using VR has been on gaming and entertainment, “virtual reality has the potential to reinvent the consumer experience—with an experience we call contextual commerce,” according to a … Continue reading “Walmart Brings Virtual Reality to Retail With Purchase of Spatialand”
Category: National
CloudBees Buys Codeship to Boost Software Delivery Tools
[Updated 2/7/18, 4:04 pm. See below.] CloudBees is snapping up Codeship in a union of two software development toolmakers founded in the early 2010s. Terms of the acquisition weren’t disclosed in a press release. San Jose, CA-based CloudBees, which used to be headquartered in the Boston area, is bringing on Codeship’s team of around 30 … Continue reading “CloudBees Buys Codeship to Boost Software Delivery Tools”
A16Z Bio Fund’s Pande Sees A.I. as Way to Ride Bio Innovation
As Andreessen Horowitz begins to invest the $450 million the bellwether venture firm recently raised for its second bio fund, general partner Vijay Pande has been talking increasingly about the use of artificial intelligence in the life sciences. In a presentation a few months ago at the firm’s annual a16z Summit, Pande argued that many … Continue reading “A16Z Bio Fund’s Pande Sees A.I. as Way to Ride Bio Innovation”
Battery Ventures Recharges With $1.25B in Two New Funds
Battery Ventures, a 35-year-old global investment firm, has reeled in $1.25 billion to continue backing high-tech companies. Boston-based Battery announced two new funds on Tuesday: an $800 million fund, Battery Ventures XII; and a $450 million companion, Battery Ventures XII Side Fund, from which the firm will make larger growth and private-equity investments. Battery’s deals … Continue reading “Battery Ventures Recharges With $1.25B in Two New Funds”
As Migraine Races Heat Up, Allergan Touts New Data for Headache Pill
The push to treat migraines with a new class of medicines took another turn on Tuesday when Allergan presented clinical data for an experimental pill meant to help fend off the debilitating headaches after they start. Allergan’s (NASDAQ: [[ticker:AGN]]) ubrogepant, met its main goals in the first of two Phase 3 studies. In a trial … Continue reading “As Migraine Races Heat Up, Allergan Touts New Data for Headache Pill”
After Record-Breaking 2017, Invest Michigan Expects Another Big Year
Invest Michigan, the Detroit-based early-stage capital fund, had an eventful 2017 and is off to a busy start already in 2018. We caught up with CEO Charlie Moret for an update and to find out what’s ahead for the fund in the coming year. Invest Michigan, established in 2014 by the Michigan Economic Development Corporation, … Continue reading “After Record-Breaking 2017, Invest Michigan Expects Another Big Year”
Pay It Forward: Capital Drives Bio Innovation in San Diego & Beyond
After starting Organovo in 2007, I spent much of the next decade as CEO seeking financing to advance our bioprinting technology. Because I stepped out of an operational role early last year, I am now in a position of providing financing to aspiring life sciences entrepreneurs. The change has caused me to reflect a bit … Continue reading “Pay It Forward: Capital Drives Bio Innovation in San Diego & Beyond”
Out of MIT, a $21M Startup Battle Brews Over Next-Gen A.I. Chips
Here are the makings of an interesting tale. It involves two competing tech spinouts from MIT, and two rival CEOs who were co-authors on a key research paper. And now, each company has raised on the order of $10 million from venture capitalists to win what could become a major race. It’s Lightelligence versus Lightmatter, … Continue reading “Out of MIT, a $21M Startup Battle Brews Over Next-Gen A.I. Chips”
Bristol-Myers Immune Drug Combo Hits Early Mark in Lung Cancer Study
[Updated 2/5/18, 2:36 p.m. See below.] A combination of two Bristol-Myers Squibb immunotherapies has achieved the main goal of a late-stage study in lung cancer, according to preliminary results the company released on Monday. But even though Bristol says the trial supports a new way of identifying patients who could best respond to its treatment, … Continue reading “Bristol-Myers Immune Drug Combo Hits Early Mark in Lung Cancer Study”
E-Commerce Firm Dearduck Uses A.I. in the Hunt for the Perfect Gift
Houston—Knowledge is power, but too much of a good thing can render data meaningless. That’s the struggle many retailers have in an age of data analytics. Think about the retailer e-mails we receive daily or the ads that appear on Google or our social media sites. Though based on our Web searches, those ads don’t … Continue reading “E-Commerce Firm Dearduck Uses A.I. in the Hunt for the Perfect Gift”
College Testing Firm ACT Invests in Edtech Startup Smart Sparrow
ACT, the big college admissions testing organization whose CEO aims to make it an educational venture as well, is investing $7.5 million in interactive online learning startup Smart Sparrow. Smart Sparrow specializes in online courses that teach students how to master skills that have a physical component, such as biological laboratory techniques and drawing for … Continue reading “College Testing Firm ACT Invests in Edtech Startup Smart Sparrow”
Entrepreneurs Look to Angels and Micro-VCs for Cash
You don’t need me to tell you it’s a rough world out there for startups. Venture capitalists have been unusually stingy lately, hanging on to billions of dollars they’d typically be channeling into promising young companies. When those investors do open their wallets, they’re shunning risky investments in favor of what the Wall Street Journal … Continue reading “Entrepreneurs Look to Angels and Micro-VCs for Cash”
Arcturus Terminates CEO, Names Mark Herber as Interim President
Arcturus Therapeutics (NASDAQ: [[ticker:ARCT]]) said today it has fired co-founder and CEO Joseph E. Payne (on the right in above photo), and named Mark Herber, vice president of business development and alliance management, as interim president. The San Diego-based early stage biotech, which specializes in RNA medicines, did not explain in a statement today why … Continue reading “Arcturus Terminates CEO, Names Mark Herber as Interim President”
Electric Harley, Ab E, D2P, & More: This Week’s Wisconsin Watchlist
During a ceremony held at dawn on Friday in Sun Prairie, WI, Jimmy the Groundhog saw his shadow, which according to Groundhog Day lore means Wisconsin will not be having an early spring this year. Whether it’s frigid temperatures, flu season, or something else keeping you indoors, take a few minutes to stay current on … Continue reading “Electric Harley, Ab E, D2P, & More: This Week’s Wisconsin Watchlist”
A Startup Ecosystem Pioneer, Houston Tech Center Closes After 19 Years
Houston—The Houston Technology Center, the city’s oldest organization dedicated to boosting local startups, has been shut down. HTC, founded as a non-profit in 1999, was last October brought under the umbrella of a new initiative called Houston Exponential. HX, as it is called, was unveiled as a comprehensive citywide approach to boosting Houston’s community for … Continue reading “A Startup Ecosystem Pioneer, Houston Tech Center Closes After 19 Years”
Bio Roundup: Wilson’s Warning, Amazon’s Health Biz, Moderna Cash & More
The State of the Union address was…. long. At one hour and 20 minutes, President Trump fell about 9 minutes shy of the high mark. But those who stayed tuned in heard comments about several health policy matters. The president credited the FDA for a record number of generic drug approvals in 2017, which PwC … Continue reading “Bio Roundup: Wilson’s Warning, Amazon’s Health Biz, Moderna Cash & More”
A.I. Meets Ethnography: Spatial Drives Mobility Via Social Media Data
We’ve all heard the old chestnut about being careful what we say on social media, because once it’s posted to the Internet, it lives on in perpetuity. Despite those warnings, people reveal an enormous amount about their lives, opinions, and preferences on sites such as Facebook and Twitter, and a Cincinnati-based startup called Spatial is … Continue reading “A.I. Meets Ethnography: Spatial Drives Mobility Via Social Media Data”
Boston Tech Watch: Immelt, VirZoom, Salsify, ClickSoftware & More
It’s time to catch up on some of the latest Boston-area tech headlines: —There were two notable venture capital hires this week with Boston ties. General Catalyst Partners named departing American Express CEO Ken Chenault as chairman and a managing director. Chenault will be based in the venture capital firm’s New York office, the New … Continue reading “Boston Tech Watch: Immelt, VirZoom, Salsify, ClickSoftware & More”
Microsoft to Provide Backing for Gener8tor’s Detroit Programs
Microsoft has expanded its partnership with Gener8tor, an organization that holds training programs for entrepreneurs in several Midwestern states, to support startups with connections to the Detroit area. Wisconsin-based Gener8tor said that with support from Microsoft (NASDAQ: [[ticker:MSFT]]), it will enroll up to 15 companies in free, seed-stage accelerator programs each year. Startups selected to … Continue reading “Microsoft to Provide Backing for Gener8tor’s Detroit Programs”
Moderna, Still Private, Scoops Up Yet Another $500M
Moderna Therapeutics, the secretive messenger RNA drugmaker known in part for its preponderance of massive funding raises, has struck once again. The Cambridge, MA, company has closed yet another huge round, a $500 million haul from a wide group of domestic and international investors. New backers include the Abu Dhabi Investment Authority, BB Biotech, and … Continue reading “Moderna, Still Private, Scoops Up Yet Another $500M”
Ex-GE CEO Immelt Joins NEA as Execs Move Into Venture Investing
[Updated 2/1/18, 2:54 pm. See below.] Former General Electric chairman and CEO Jeff Immelt has joined New Enterprise Associates, the latest high-profile business executive to cross over to venture capital. Immelt has signed on as a venture partner at NEA, according to a press release. NEA has offices in the Bay Area; Washington, DC, area; … Continue reading “Ex-GE CEO Immelt Joins NEA as Execs Move Into Venture Investing”
Xconomy Bookclub: “Inferior” Peruses Science’s Historic #MeToo Bias
In his now infamous memo, ex-Google engineer James Damore cited scientific evidence to illustrate why women may not be suited for jobs at some of today’s leading tech companies. Women, he argued, are biologically more attuned to “people” jobs rather than “thing” jobs, like those in technology. But what Damore was doing, others pointed out, … Continue reading “Xconomy Bookclub: “Inferior” Peruses Science’s Historic #MeToo Bias”
As Worlds Collide: Join Xconomy for Big Data Meets Big Biology
What happens when the power of advanced computing and large-scale data technologies are applied in healthcare and the life sciences? Imagine what might happen if two tsunamis came together near the coast. On April 26, Xconomy will explore how the inexorable trends in IT and life sciences are driving transformational change, and how innovations in … Continue reading “As Worlds Collide: Join Xconomy for Big Data Meets Big Biology”
With Pellini on Board, Maris Sets Course at Section 32
It’s not easy to catch up with Bill Maris at Section 32, the venture firm he founded last year near San Diego. It took a while to arrange a call to discuss how Foundation Medicine’s Michael Pellini had joined Section 32 as Maris’s first investing partner, and what they plan to do together. Maris acknowledged … Continue reading “With Pellini on Board, Maris Sets Course at Section 32”
Gaming, Staffing, and Diversity: Techstars Picks 2018 Class for Seattle
Diversity has been a thorny problem for the tech industry—specifically its lack of minority and women-led businesses. Techstars has made a point of the issue, and promised over the last few years to try to make diversity a priority as it selects companies for its various accelerator programs. Seattle’s Techstars program announced some progress this … Continue reading “Gaming, Staffing, and Diversity: Techstars Picks 2018 Class for Seattle”
Techstars, Air Force Reveal First Boston Accelerator Investments
[Updated 2/1/18, 9:52 am. See below.] Techstars today announced the companies participating in the inaugural session of its new autonomous technology startup accelerator program in Boston, and, as advertised, there are a lot of drones involved. Six of the 10 participating companies are focused on unmanned aerial vehicles, including businesses focused on designing and making … Continue reading “Techstars, Air Force Reveal First Boston Accelerator Investments”
Ex-Merrimack, Seragon Execs’ New Startup Gets $60M, Buys Sanofi Drug
Partner Therapeutics, a Boston startup launched last week by a pair of former Merrimack Pharmaceuticals and Seragon Pharmaceuticals executives, has raised $60 million and acquired an immune system-boosting drug from Sanofi for an undisclosed sum. Partner bought Sanofi’s (NYSE: [[ticker:SNY]]) sargramostim (Leukine), a drug used to help acute myeloid leukemia patients fight infections after undergoing bone … Continue reading “Ex-Merrimack, Seragon Execs’ New Startup Gets $60M, Buys Sanofi Drug”
Avrobio Raises $60M for Fabry Disease Gene Therapy, Rest of Pipeline
Avrobio has had encouraging early results testing its experimental gene therapy to treat Fabry disease, an inherited enzyme deficiency that leads to a dangerous fatty buildup in the body. As the biotech startup gears up for more tests, it now has $60 million more in financing to support those studies and the rest of its … Continue reading “Avrobio Raises $60M for Fabry Disease Gene Therapy, Rest of Pipeline”
MIT Raising Big Bucks From Corporations to Fund A.I. “Moonshots”
MIT plans to raise “hundreds of millions of dollars” from companies and philanthropic donors for a long-term, wide-ranging research initiative bringing together faculty, students, staff, and industry to attempt to better understand human intelligence—and use that knowledge to deliver breakthroughs in artificial intelligence that might have a broad impact on society. The initiative—called MIT Intelligence … Continue reading “MIT Raising Big Bucks From Corporations to Fund A.I. “Moonshots””
Look Out, Investors: Cryptocurrency Values Slide As Warnings Take Off
Bitcoin and other cryptocurrencies have seen dramatic but volatile price surges during the past year. But this month their billions in estimated market value are eroding, amid widening suspicions against one trading platform, a half-billion-dollar heist from another exchange, and an awakened global regulatory community. Warnings are on the rise from regulators, researchers, banking executives—and … Continue reading “Look Out, Investors: Cryptocurrency Values Slide As Warnings Take Off”
Epic Upgrades Records-Sharing App in Bid to Improve Interoperability
Epic Systems says it’s added new features to Care Everywhere, a software application allowing the company’s 300-plus hospital and health clinic customers to share information about their patients. About 190 million people have a current medical record in Epic, according to the Verona, WI-based business. When members of this patient population go to another hospital … Continue reading “Epic Upgrades Records-Sharing App in Bid to Improve Interoperability”
Bessemer Makes First Indiana Investment, Leads Zylo’s $9.3M Series A
When Indianapolis-based cloud software company Zylo was making the rounds in the Bay Area last year, talking to potential investors, the company kept hearing that it should meet with Silicon Valley firm Bessemer Venture Partners. Bessemer had never backed an Indiana tech company before but the meetings must have gone well, because Zylo has announced … Continue reading “Bessemer Makes First Indiana Investment, Leads Zylo’s $9.3M Series A”
Bellicum Reveals Brain Injuries, FDA Halt on Lead T-Cell Product
Bellicum Pharmaceuticals (NASDAQ: [[ticker:BLCM]]) of Houston divulged Wednesday that its lead T-cell therapy program BPX-501 has been put on hold by the FDA. The treatment, for certain people undergoing bone marrow transplant, uses two components: off-the-shelf T cells to replace those killed in the transplant process, and a pill that acts as a “kill switch” … Continue reading “Bellicum Reveals Brain Injuries, FDA Halt on Lead T-Cell Product”
Google Pulls Plug on Webpass in Boston Amid Growing Competition
In another setback for Google’s Internet business, the tech giant has decided to wind down the Boston-area operations of Webpass, a wireless Internet service provider Google Fiber acquired in June 2016. A statement e-mailed by a Google spokeswoman didn’t give a reason for the decision. “We’ll work with customers and partners to minimize disruption, and … Continue reading “Google Pulls Plug on Webpass in Boston Amid Growing Competition”
As A.I. Takes Off, We Need a Plan to Deal with Societal Disruption
As an Xconomist, I have been asked to predict what technology might really take off in 2018. My response is something of a “cheat” in that it relates to artificial intelligence (AI), a technology that has been poised to take off next year for the past several decades and a topic about which I have … Continue reading “As A.I. Takes Off, We Need a Plan to Deal with Societal Disruption”
Engine Biosciences Nabs $10M to Develop AI-Based Drug Discovery Tech
Engine Biosciences has raised $10 million in funding to further develop its artificial intelligence-based drug discovery tool. DHVC and 6 Dimensions Capital co-led the seed investment in the San Francisco-based company. Joining in the investment were WuXi AppTec, EDBI, Pavilion Capital, Baidu Ventures, WI Harper, and Nest.Bio Ventures. Engine says it has demonstrated that the … Continue reading “Engine Biosciences Nabs $10M to Develop AI-Based Drug Discovery Tech”
Bio Buyout Spree Continues as SeaGen Bets $614M on Cascadian Cancer Drug
In the latest in a recent spate of biopharma buyouts, Seattle Genetics has struck a deal to acquire Cascadian Therapeutics, gambling on an experimental breast cancer drug in late-stage testing. SeaGen (NASDAQ: [[ticker:SGEN]]), of Bothell, WA, will pay $10 per share in cash, or $614 million, for Seattle’s Cascadian (NASDAQ: [[ticker:CASC]]) and its lead drug … Continue reading “Bio Buyout Spree Continues as SeaGen Bets $614M on Cascadian Cancer Drug”
Your Smart City Is Stupid
Cities have been called a repository of possibilities. What they haven’t been called, at least until recently, is smart. These days, however, the term “smart city” is everywhere, pimped by tech giants like IBM, Google, and Cisco, and embraced by various mayors, city managers, and chief innovation officers from Silicon Valley to Rio to Dubai. … Continue reading “Your Smart City Is Stupid”
After Paper Shakes Sector, Gene Therapy Leader Jim Wilson Talks Safety
[Updated, 1/31/18, see below] Gene therapy pioneer James Wilson and University of Pennsylvania colleagues sounded an alarm Tuesday morning about the use of gene therapy to treat severe diseases like spinal muscular atrophy and Duchenne muscular dystrophy, sending a chill across the sector. Shares of several companies inched downward as word spread about the UPenn … Continue reading “After Paper Shakes Sector, Gene Therapy Leader Jim Wilson Talks Safety”
Free Coffee, Workshops, and … Money? Geekdom Begins Offering Grants
San Antonio—Geekdom, the six-year-old co-working space in downtown San Antonio, has added a new perk to the free coffee, workshops, and mentorship opportunities it offers its more than 1,700 members: a chance at winning a $10,000 grant each month. The grant money will come directly from Geekdom, which is calling the program The Community Fund. … Continue reading “Free Coffee, Workshops, and … Money? Geekdom Begins Offering Grants”
Amazon’s New Healthcare Venture: Insurance, Drugs, or Something Else?
After months of speculation that Amazon could soon expand its presence in the healthcare sector, the Seattle-based online retail leader said Tuesday that it plans to launch a joint venture with Berkshire Hathaway and JPMorgan Chase to provide the three companies’ U.S. employees “with simplified, high-quality, and transparent healthcare at a reasonable cost.” The companies … Continue reading “Amazon’s New Healthcare Venture: Insurance, Drugs, or Something Else?”
BridgeBio Picks Up Novartis Cancer Drug, Launches New Biotech Startup
BridgeBio Pharma has launched its latest biotech startup: a company built around an abandoned Novartis cancer drug candidate that is now backed by $65 million in fresh capital. The new company, QED Therapeutics, aims to pick up where Novartis (NYSE: [[ticker:NVS]]) left off. Novartis took the drug, infigratinib, as far as mid-stage clinical trials as … Continue reading “BridgeBio Picks Up Novartis Cancer Drug, Launches New Biotech Startup”
Texas Tech Watch: Austin’s Impact Hub, Arundo Analytics & Procyrion
[Updated 1/31/18, 4:44 pm. See below.] One of the less pleasant innovations running around these days is strains of flu that seem to be hitting everyone. I, unfortunately, was not immune and out last week. Let’s get caught up on a few news items. Up first: Austin’s Impact Hub accelerator, which incubates companies with civic … Continue reading “Texas Tech Watch: Austin’s Impact Hub, Arundo Analytics & Procyrion”
Evicted from the Smart City: No Citizens Needed
Tech vendors know when they knock on the doors of local politicians to pitch smart cities technologies and promising billions in savings, they are going to find a receptive audience. Big Tech promises what politicians desperately want to hear: that we can address deep-seated, structural urban problems through business-led technological innovation and somehow sidestep the … Continue reading “Evicted from the Smart City: No Citizens Needed”
Sunovion Parkinson’s Drug Heads to FDA, Setting Up Battle With Acorda
Another drug that may help alleviate some of the debilitating symptoms of Parkinson’s disease is on its way to an FDA review, setting up a possible commercial battle between two drug developers, Sunovion Pharmaceuticals and Acorda Therapeutics. Sunovion, of Marlborough, MA, said late Monday that its experimental Parkinson’s drug, APL-130277, succeeded in a 109-patient Phase … Continue reading “Sunovion Parkinson’s Drug Heads to FDA, Setting Up Battle With Acorda”
Evergage Scoops Up MyBuys to Make Shopping More Personal
Evergage has acquired MyBuys in a deal that underscores the increasing importance of personalization in marketing products to consumers. Somerville, MA-based Evergage declined to share the price it paid to purchase the MyBuys merchandising products business from New York-based Magnetic, an advertising technology firm that merged with MyBuys in 2015. An undisclosed number of MyBuys … Continue reading “Evergage Scoops Up MyBuys to Make Shopping More Personal”
Dell Reportedly Mulling a VMware Reverse Merger: What Could It Mean?
Austin—Dell may be considering a reverse merger with VMware. Why? Dell has a load of debt and a group of private owners that bought the business off of the public markets in 2013, who may now be ready to get a return on their investment. News organizations reported during the last week that the Round … Continue reading “Dell Reportedly Mulling a VMware Reverse Merger: What Could It Mean?”
FDA Nixes Aradigm’s Inhaled Antibiotic, Asks for New Clinical Trial
Aradigm’s attempt to commercialize an inhalable version of a generic antibiotic as a treatment for chronic lung infections has stalled with the FDA’s rejection of the company’s drug approval application. Hayward, CA-based Aradigm (NASDAQ: [[ticker:ARDM]]) says it would be required to conduct another Phase 3 study of its version of ciprofloxacin (Linhaliq) in order to … Continue reading “FDA Nixes Aradigm’s Inhaled Antibiotic, Asks for New Clinical Trial”
After Conquering Detroit Auto Show, Carmera to Expand Mapping Service
At the North American International Auto Show, which just wrapped in Detroit, New York-based Carmera won best in show at the startup competition hosted by AutoMobili-D, and also received startup of the year honors in the autonomous driving category from the state’s PlanetM program. Not bad for a company that just exited stealth mode a … Continue reading “After Conquering Detroit Auto Show, Carmera to Expand Mapping Service”
Hospitals Back New LRVHealth Fund to Forge Alliances With Startups
The healthcare industry has a reputation for being slow and resistant to adopting new technologies. But more hospitals are starting to collaborate with—and even invest in—high-tech startups. The latest example is a new Boston-based venture capital fund announced Monday. LRVHealth, formerly known as Long River Ventures, said it’s planning to raise $100 million for its … Continue reading “Hospitals Back New LRVHealth Fund to Forge Alliances With Startups”