Way back in 2012, we published a story about Usman Majeed, a young entrepreneur running an electronics reseller business called Tech Twurl out of his Michigan State University dorm room. He graduated with a computer science degree in 2015 and shut down Tech Twurl soon after, but the desire to run his own company remained. … Continue reading “As Cryptocurrencies Grow, Mutual Coin Hedge Fund Guides Investors”
Category: National
3 Lessons From NuTonomy & Lyft’s Self-Driving Car Rides in Boston
One of the biggest potential pitfalls for developers of autonomous vehicles is psychological: Will most people trust the cars enough to ride in them? It might not be easy to win people over, but it’s possible—if a Boston startup’s recent tests are any indication. On Tuesday, NuTonomy co-founder and president Karl Iagnemma shared early reactions … Continue reading “3 Lessons From NuTonomy & Lyft’s Self-Driving Car Rides in Boston”
Aptiv Plans Driverless Car Tech Hub in Boston After Buying NuTonomy
[Updated 12/12/17, 5:51 pm. See below.] Global automotive technology supplier Aptiv is planting a bigger flag in Boston. On Tuesday, the England-based company announced plans to open a new technology office in Boston’s Seaport neighborhood. The space will also be the new headquarters of NuTonomy, the Boston-based autonomous vehicle software startup that Aptiv acquired this … Continue reading “Aptiv Plans Driverless Car Tech Hub in Boston After Buying NuTonomy”
GenXComm’s Spectrum Boosting Tech Lands $7M Led by Intel Capital
Austin—[Updated 2:13 p.m. See below.] Intel Capital is leading a $7 million Series A round of funding for Austin, TX-based GenXComm, a startup developing wireless technology that reduces interference in transmitters of 5G mobile, Wi-Fi, and cable networks data. By reducing that interference, GenXComm says more data can flow back and forth over the limited … Continue reading “GenXComm’s Spectrum Boosting Tech Lands $7M Led by Intel Capital”
EmOpti Aims to Help Patients in ER Get Seen by Doctors More Quickly
Ed Barthell doesn’t mince words when describing the poor experiences many patients have when they go to the emergency room. “Emergency medicine is still an industry that essentially delivers lousy service for really high cost,” says Barthell, a doctor who worked in the ER for more than two decades before leaving his clinical practice in … Continue reading “EmOpti Aims to Help Patients in ER Get Seen by Doctors More Quickly”
ASH 2017 Highlights: CAR-T Competition, Myeloma, Hemophilia & More
[Updated, 12/13/17, 1:50 p.m. ET. See below.] The annual American Society of Hematology meeting is nearly over. For now, we’ve chosen updates from three disease areas to highlight, plus the more notable market movements. No surprise, there’s a lot about the genetically engineered cell therapy known as CAR-T. Gene therapy and more standard forms of … Continue reading “ASH 2017 Highlights: CAR-T Competition, Myeloma, Hemophilia & More”
Apple Confirms Acquisition of Early Music-Tech Startup Shazam
As a tech startup that uses an algorithm to help people find out what song is playing on the radio, Shazam is a business its co-founders say was ahead of its time in 2000—so much so that they developed the technology after they already started raising money and finding office space. It was even ahead … Continue reading “Apple Confirms Acquisition of Early Music-Tech Startup Shazam”
After Raising $27M, Ouster to Plans Mass Manufacture of LiDAR Units
Light Detection and Ranging (LiDAR) is one of the most important technologies underpinning the development of driverless cars. LiDAR systems feed raw sensor data to the car’s brain, creating a 3D picture of the surrounding environment and enabling autonomous vehicles to navigate it. But LiDAR has also been controversial because it’s expensive, sometimes fallible, and … Continue reading “After Raising $27M, Ouster to Plans Mass Manufacture of LiDAR Units”
Lilly Nixes Expansion of Stomach Cancer Drug After Mixed Study Results
Eli Lilly is dropping plans to seek expanded FDA approval for ramucirumab (Cyramza) in stomach cancer after the drug missed a key goal in a late-stage study. The Lilly (NYSE: [[ticker:LLY]]) drug is already approved, in combination with the drug paclitaxel, as a second-line treatment for patients whose stomach cancer has progressed despite chemotherapy. The … Continue reading “Lilly Nixes Expansion of Stomach Cancer Drug After Mixed Study Results”
What’s Hot in Cybersecurity, 2017: Photos and Takeaways
Our annual cybersecurity conference at WGBH in Boston was a big hit last week. In times like these, security is on everyone’s mind—and it has become a critical issue in business and society. A few takeaways from the event (but you really had to be there): 1. Expect a lot more phishing-type attacks after the Equifax … Continue reading “What’s Hot in Cybersecurity, 2017: Photos and Takeaways”
Once Shunned, Regulated Industries Now a Lure for Some Investors
When Alex Niehenke started his business career at an investment bank in 2005 as an advisor to Internet companies, there was one strongly held consensus among investors. “You just didn’t touch regulated industries,” says Niehenke, who was recently promoted to partner at Silicon Valley venture capital firm Scale Venture Partners. Investors didn’t want the risks … Continue reading “Once Shunned, Regulated Industries Now a Lure for Some Investors”
What Are the Nation’s Top Cities and Regions for Driverless Tech?
Whether you think self-driving cars are the stuff of science fiction or a potentially paradigm-shifting new form of transportation, autonomous vehicles are coming—and the companies developing them are spending big money to make it happen. A few years ago, industry analysts seemed to think Silicon Valley would win the race to get self-driving cars on … Continue reading “What Are the Nation’s Top Cities and Regions for Driverless Tech?”
U-M’s MADE Program Aims to Train Entrepreneurs in Developing Nations
This week, the University of Michigan’s Zell Lurie Institute announced a new program called Michigan Academy for the Development of Entrepreneurs (MADE), which aims to help business owners in developing nations to grow and thrive. The program, which has been established in partnership with the William Davidson Institute and Aparajitha Foundations, will work with local … Continue reading “U-M’s MADE Program Aims to Train Entrepreneurs in Developing Nations”
Promega, Cellectar, Blockchain, & More: This Week’s WI Watchlist
Keep up with the latest news from Wisconsin’s innovation community with these recent headlines: —The Scientist magazine named Fitchburg-based Promega’s “High BiT” protein-tagging system as one of its top 10 innovations of 2017. The product emits a bright light, allowing researchers to “quantify the abundance of a protein of interest, whether it be in the … Continue reading “Promega, Cellectar, Blockchain, & More: This Week’s WI Watchlist”
Northwest Startup Supporters Grow U.S.-Canada Economic Ties
There’s a new network organizing the incubators, accelerators, and investors fostering innovation in the Pacific Northwest on both sides of the U.S.-Canada border. Business collaboration across the 49th parallel is having a moment, thanks in no small part to a dramatic divergence in immigration policies between the two countries this year that have prompted U.S. … Continue reading “Northwest Startup Supporters Grow U.S.-Canada Economic Ties”
In Biggest Biotech IPO of 2017, Denali Raises $248M for Neuro Drugs
Denali Therapeutics has raised more than $248 million in its stock market debut, marking the largest biotech IPO of the year. The company will use the cash to support work on its experimental drugs for Parkinson’s disease and other neurodegenerative disorders. South San Francisco, CA-based Denali priced its offering of 13.8 million shares at $18 … Continue reading “In Biggest Biotech IPO of 2017, Denali Raises $248M for Neuro Drugs”
OrbiMed Founder Isaly Steps Down After Sexual Harassment Report
Sam Isaly, managing partner of OrbiMed Advisors, is stepping down from the company. OrbiMed, a leading healthcare investment firm founded by Isaly, made the announcement Thursday, two days after Stat published a report of sexual harassment allegations from former OrbiMed employees against Isaly. According to OrbiMed’s statement, Isaly will be replaced by a committee of … Continue reading “OrbiMed Founder Isaly Steps Down After Sexual Harassment Report”
Bio Roundup: Trials to Watch, Mega Deals, Video Game Therapy & More
With 2018 around the corner, this was a week to look ahead. At Xconomy, we zeroed in on several clinical trials that could become major stories in the life sciences. Other healthcare milestones are on the way, too. The FDA will consider for the first time whether a video game should be approved as medicine. … Continue reading “Bio Roundup: Trials to Watch, Mega Deals, Video Game Therapy & More”
Gilead Bets on Cell Therapy Again with $567M Cell Design Labs Deal
Gilead Sciences is deepening its capabilities in cell therapy with a deal valued at up to $567 million to acquire Cell Design Labs, a company that discovers and develops such treatments. The announcement late Thursday comes a little more than four months after Foster City, CA-based Gilead (NASDAQ: [[ticker:GILD]]) jumped into cell therapy in a … Continue reading “Gilead Bets on Cell Therapy Again with $567M Cell Design Labs Deal”
StemBioSys Continues Expanding Distribution, Adding Western Europe
San Antonio — StemBioSys, a life sciences company with a system for growing stem cells, has made a deal to have its products distributed in the United Kingdom and Western Europe. The deal is with Caltag Medsystems, a life science distributor that already sells similar products in those markets, according to StemBioSys CEO Bob Hutchens. The … Continue reading “StemBioSys Continues Expanding Distribution, Adding Western Europe”
Clora Reaps $3.3M to Speed Consultant Hunts by Life Sciences Companies
Rahul Chaturvedi worked for 16 years as a life sciences company executive, but he was also an avid consumer tech fan who chafed at the clunky enterprise apps used in his industry. Spoiled by speedy, user-friendly consumer apps, he also wondered why finding a biotech consultant to hire was so much harder than, say, lining … Continue reading “Clora Reaps $3.3M to Speed Consultant Hunts by Life Sciences Companies”
Sage Shares Soar Again As Depression Drug Hits Mark in Phase 2 Test
Sage Therapeutics disclosed another clinical trial victory this morning, sending shares of the Cambridge, MA, company to new highs. An experimental Sage drug for major depressive disorder (MDD), a psychiatric disease that affects millions of Americans, has succeeded in a Phase 2 study and will now head into late-stage testing. Sage (NASDAQ: [[ticker:SAGE]]) said that … Continue reading “Sage Shares Soar Again As Depression Drug Hits Mark in Phase 2 Test”
Last Chance to Have Your Voice Heard on NY Biotech’s Course in 2018
Want to take part in an interactive, constructive talk about what can be done, right now, to alter the course of the life sciences scene in New York? You’ve still got a shot. Next Monday evening, Dec. 11, at the Alexandria Center for Life Science, Xconomy is gathering a small group of New York biotech … Continue reading “Last Chance to Have Your Voice Heard on NY Biotech’s Course in 2018”
The ‘Amazon Effect’ and the Gender Wage Gap
The battle to land Amazon’s second home is shaping up to be one of the fiercest competitions to lure a corporate headquarters in modern history. From serious incentives like massive tax breaks to headline grabbing stunts like offers of bear wrestling and giant cacti, it’s safe to say cities are pulling out every stop imaginable … Continue reading “The ‘Amazon Effect’ and the Gender Wage Gap”
Metacrine Raises $22M to Advance New Drugs for Chronic Liver Disease
Metacrine, a biotech developing new drugs for treating chronic liver diseases and related metabolic diseases and disorders, said today it has raised $22 million in a Series B financing led by New Enterprise Associates, a new investor. Proceeds will be used to advance Metacrine’s lead drug candidate, MET409, into first-in-human studies during the first half … Continue reading “Metacrine Raises $22M to Advance New Drugs for Chronic Liver Disease”
Boston Tech Watch: Apple, Lyft, BU, Astral Capital, Cengage & More
It’s time to catch up on the latest Boston-area tech headlines: —People can now ride around Boston’s Seaport neighborhood in a self-driving vehicle, thanks to a pilot program launched this week by ride-hailing company Lyft and NuTonomy, the autonomous vehicle software startup now owned by Aptiv. (Aptiv is the name of the autonomous vehicle business … Continue reading “Boston Tech Watch: Apple, Lyft, BU, Astral Capital, Cengage & More”
Report: Sexual Harassment Claims Hit OrbiMed Founder Sam Isaly
Healthcare investment giant OrbiMed Advisors has been described as a workplace enveloped in a toxic culture of sexual harassment, according to an investigation by Stat released late Tuesday. OrbiMed managing partner and co-founder Samuel Isaly is the main perpetrator of frequent and targeted harassment, according to allegations leveled in Stat’s interviews with five former employees, … Continue reading “Report: Sexual Harassment Claims Hit OrbiMed Founder Sam Isaly”
Arrowhead Pharma Reveals Data It Hopes Will Aid New Hepatitis B Drug
Arrowhead Pharmaceuticals (NASDAQ: [[ticker:ARWR]]) suffered a major setback last year after it canceled the development of three experimental drug candidates for liver disease. On Wednesday, Pasadena, CA-based Arrowhead—which houses its research and development operations in Madison, WI—shared data from a study involving one of the canceled drug candidates that the company believes could bode well … Continue reading “Arrowhead Pharma Reveals Data It Hopes Will Aid New Hepatitis B Drug”
Lexumo, an Internet of Things Security Startup, Calls It Quits
[Updated 12/8/17, 4:27 pm. See below.] Boston-area cybersecurity startup Lexumo has shut down, a source close to the company confirmed to Xconomy. After publication, CEO Dan McCall confirmed the news in an e-mail to Xconomy that said Lexumo ceased operations in September. [This paragraph added.—Eds.] Lexumo spun out of Draper Laboratory—the not-for-profit R&D center next … Continue reading “Lexumo, an Internet of Things Security Startup, Calls It Quits”
Ionic Unveils New App-Making Tools, Continues Push to Make Money
Ionic has introduced a new set of tools for developing mobile software applications, as the Madison, WI-based startup continues its effort to create revenue streams off of its sizeable user base. The new suite of development tools, known as Ionic Pro, is aimed at helping developers build, test, and distribute apps faster and more easily … Continue reading “Ionic Unveils New App-Making Tools, Continues Push to Make Money”
Propose With a Lab-Made Diamond? Diamond Tech Retailers Say, “Yes”
How do you disrupt an industry that markets itself as the embodiment of “forever?” You bring it back to basics, says Lindsay Reinsmith, co-founder of Ada Diamonds, an online retailer of jewelry with lab-made gemstones in San Francisco. “Science is on our side,” she says. “We confront them with facts.” Machine-made gemstones are created in exactly … Continue reading “Propose With a Lab-Made Diamond? Diamond Tech Retailers Say, “Yes””
Last Chance to Save on San Diego Life Sciences 2022
There’s just one week left before Xconomy’s latest biotech event, “San Diego Life Sciences 2022.” Don’t let the clock run out while you can still save some cash on a ticket. Next Monday, December 11, we’re taking an inside look at what the San Diego life sciences landscape will look like in the year 2022. … Continue reading “Last Chance to Save on San Diego Life Sciences 2022”
15 For ’18: Key Clinical Data to Watch For Next Year (Part 2)
[Corrected, 12/11/17, 1 p.m. ET. See below.] On Monday we posted the first part of our look at what should be some of 2018’s most important clinical data, including trials for lung cancer, heart disease, melanoma, Alzheimer’s disease, rare blood disorders, and more. With part two, we’re previewing studies for migraine, brain cancer, lymphoma, peanut … Continue reading “15 For ’18: Key Clinical Data to Watch For Next Year (Part 2)”
Ambiq Micro Plans to Expand IoT Uses of Energy-Saving Microprocessor
Austin—Seven years ago, Scott Hanson was a student at University of Michigan who was hoping to raise a few hundred thousand dollars for Ambiq Micro, his fledgling startup that aimed to make low-powered microcontrollers. Today, Ambiq is headquartered in Austin, TX, has raised tens of millions in venture capital, and sells its energy-efficient chips to … Continue reading “Ambiq Micro Plans to Expand IoT Uses of Energy-Saving Microprocessor”
After Humanitarian Honor, Flagship’s Afeyan States Case for Immigration
They embrace the unfamiliar, overcome adversity, and through it all, make the most of limited resources. These characteristics describe many entrepreneurs. But they also describe immigrants, says Noubar Afeyan, CEO of Cambridge, MA, venture capital firm Flagship Pioneering. It’s no coincidence that many successful company founders in the U.S. originally came from other countries, Afeyan … Continue reading “After Humanitarian Honor, Flagship’s Afeyan States Case for Immigration”
Gilman’s Next CEO Trick: Taming CAR-T Cells With Obsidian
Genetically modified medicine is here. Two CAR-T therapies, made from a patient’s living T cells, are on the market in the U.S., and many more are in various stages of clinical testing. As remarkable as they might seem, however, these medicines are still fairly crude, with no way to control them once inside a patient’s … Continue reading “Gilman’s Next CEO Trick: Taming CAR-T Cells With Obsidian”
American Family to Launch Moonrise, a Platform for Moonlighting
[Updated 12/6/17 11:43 a.m. See below.] Retailers across the U.S. often hire additional workers this time of year to help get them through the busy holiday shopping season. Allowing employers to bring in extra help during busy times is likewise the idea behind Moonrise, a Chicago-based startup that recently exited stealth mode. According to its … Continue reading “American Family to Launch Moonrise, a Platform for Moonlighting”
Case’s $150M Rise of the Rest Fund Aims to Boost Flyover Startups
Author, investor, and AOL co-founder Steve Case today announced a new $150 million venture fund aimed at pumping investment capital into tech companies in so-called flyover states. Contributing to the fund is an impressive group of some of the most successful entrepreneurs in the country. Called the Rise of the Rest Seed Fund, it will … Continue reading “Case’s $150M Rise of the Rest Fund Aims to Boost Flyover Startups”
Jungle Disk Buys Canadian Data Backup Service for QuickBooks Online
San Antonio—Data backup company Jungle Disk has acquired an online data backup service for users of QuickBooks Online—a move toward offering backup support for more software-as-a-service (Saas) products. Jungle Disk already sells small businesses an encrypted file backup service for laptops, desktops, servers—any type of device where Jungle Disk’s product can mount and access a … Continue reading “Jungle Disk Buys Canadian Data Backup Service for QuickBooks Online”
Dynavax Co-founder Takes Long View on Vaccine Development
The reaction on Wall Street was a little anticlimactic after the FDA approved a new hepatitis B vaccine last month for Berkeley, CA-based Dynavax Technologies (NASDAQ: [[ticker:DVAX]]). Many investors sold stock on the news. In the days following the company’s Nov. 9 announcement, the price of Dynavax shares slipped about 8 percent, from $20.05 a … Continue reading “Dynavax Co-founder Takes Long View on Vaccine Development”
NVBots Sold to Ohio Manufacturer as 3D Printing Interest Grows
[Updated 12/8/17, 3:00 pm, with co-founder’s comments.] Boston-area 3D printing startups have raised significant amounts of venture capital in the past couple of years. Now, they are starting to see some exits. New Valence Robotics, a three-year-old MIT spinout that goes by NVBots, announced Thursday it was acquired by Harrison, OH-based Cincinnati Inc., a manufacturer … Continue reading “NVBots Sold to Ohio Manufacturer as 3D Printing Interest Grows”
Black Venture Capitalists Are Transforming Tech
Would it surprise you to know that there are more than 100 black venture capitalists or that this nationwide ecosystem is growing? Most of the VCs in this expanding ecosystem made pivots from highly successful careers in other fields. They have very impressive academic credentials, business backgrounds comparable to their Silicon Valley peers, and a … Continue reading “Black Venture Capitalists Are Transforming Tech”
First Video Game Therapy Heads to FDA as Akili Touts ADHD Study Win
[Updated 12/4/17, 4:48 pm, with CEO comments.] For the first time ever, a mobile video game used to assess and treat a disease is headed for an FDA review. Akili Interactive Labs, a Boston and San Francisco Bay Area company created by PureTech Health, said Monday that AKL-T01, an experimental video game it has been … Continue reading “First Video Game Therapy Heads to FDA as Akili Touts ADHD Study Win”
ReWalk, Ekso Race to Sell Exoskeletons in Tough Rehab Market
Every day, Ashley Barnes straps a battery-powered device onto her waist, legs, and feet, which allows the paraplegic to stand up from her wheelchair and go for walks with the help of crutches. The wearable brace has motors located at Barnes’s hip and knee joints that move the “exoskeleton,” along with her legs and feet, … Continue reading “ReWalk, Ekso Race to Sell Exoskeletons in Tough Rehab Market”
Last Chance for Tickets to “What’s Hot in Cybersecurity” Tomorrow
Registration is closing soon for Xconomy’s “What’s Hot in Cybersecurity” conference. It’s all happening tomorrow, December 5, at the WGBH offices in Brighton, MA. We have lined up some of the most forward-thinking entrepreneurs, executives, investors, and innovators in cybersecurity. Join us for an afternoon of spotlight talks, chats, and panel discussions on topics such … Continue reading “Last Chance for Tickets to “What’s Hot in Cybersecurity” Tomorrow”
15 For ’18: Key Clinical Data to Watch For Next Year (Part 1)
Many of biotech’s biggest stories in 2017 followed the highly anticipated data from clinical studies. There were monumental successes, like the first-ever approval of a genetically modified living cell therapy, the first FDA application for a gene therapy or a medicine using RNA interference. There were also stinging failures, such as the latest in a long … Continue reading “15 For ’18: Key Clinical Data to Watch For Next Year (Part 1)”
Optum Unveils $250M Venture Fund as Healthcare A.I. Narrows Focus
Investors have pumped a record amount of money into digital health companies this year, according to recent data from StartUp Health. But even with rising interest in the sector, new venture funds continue to join the fray. Take Boston, where several first-time funds focused, at least in part, on healthcare technology have been announced in … Continue reading “Optum Unveils $250M Venture Fund as Healthcare A.I. Narrows Focus”
Stonehouse, AkitaBox, Iverson, & More: This Week’s WI Watchlist
Stay current on the latest news from Wisconsin’s innovation community with these recent headlines: —Stonehouse Water Technologies, a Milwaukee-based startup developing energy-efficient water purification systems, said it raised more than $1.5 million from investors. Launched in 2012, Stonehouse is developing a water purifier about the size of a dehumidifier that’s designed for use in residential, … Continue reading “Stonehouse, AkitaBox, Iverson, & More: This Week’s WI Watchlist”
Milestones of Innovation 15: Entering the New Atomic World
A momentous step into the atomic age happened around 3:20 p.m. Central War Time on Dec. 2, 1942, seventy-five years ago, in a vast, unheated space (a former squash doubles court) under the abandoned University of Chicago football stands at Stagg Field. A cadmium control rod was pulled out from a huge, painstakingly assembled cube … Continue reading “Milestones of Innovation 15: Entering the New Atomic World”
Rising Social Entrepreneur Helps Two San Antonio Startups Take Root
San Antonio—Stumping for a political candidate can be a mixed bag. For every friendly conversation, you’ll get at least one that’s filled with complaints—about the government, about potholes, about neighbors, about anything. That’s something Alberto Altamirano discovered when he was organizing for a county government candidate in Austin, TX, during a 2014 election. It’s not … Continue reading “Rising Social Entrepreneur Helps Two San Antonio Startups Take Root”