Houston—Houston leaders will officially launch a venture capital fund of funds later this morning, aimed at jumpstarting the city’s innovation ecosystem and elevating Houston into the top tier of startup hubs. The HX Venture Fund, which will be in the $40 million to $50 million range, will be made up of corporate investments which, in … Continue reading “Houston Exponential Aims to Bring Venture Investment, Boost Startups”
Category: National
Massachusetts Leads the Fight for a More (Cyber) Secure Future
Last month, more than 143 million Americans potentially had their credit information, social security numbers, birth dates, and other sensitive information stolen in one of the worst data breaches in modern history. Prior to that, rogue cyber attackers infiltrated the networks of major U.S. and European energy providers, with the potential to cause massive disruptions. … Continue reading “Massachusetts Leads the Fight for a More (Cyber) Secure Future”
TUGG Gives Back, GE Struggles, Foodler Fades & More Boston Tech News
[Updated 10/24/17, 11:07 am. See below.] Before we dive into this week’s Boston tech news roundup, I want to give a shout-out to TUGG (Technology Underwriting Greater Good), a local nonprofit that mobilizes the tech community to give money and time to support charities and social ventures. Last Thursday, TUGG held its seventh annual “Tech … Continue reading “TUGG Gives Back, GE Struggles, Foodler Fades & More Boston Tech News”
SmartDrive Raises Capital, Rolls Out Distracted Driving Technology
At the American Trucking Association Management Conference in Orlando, FL, this week, San Diego’s SmartDrive Systems announced that Michelin North America has led a new investment round in the company, though SmartDrive wouldn’t say how much it has raised. SmartDrive, founded in 2004, specializes in dashboard video cameras and related analytic technology to identify dangerous … Continue reading “SmartDrive Raises Capital, Rolls Out Distracted Driving Technology”
Following Wave of Interest in Cybersecurity, SailPoint Files for IPO
Austin—SailPoint Technologies, a cybersecurity company that was acquired by private equity firm Thoma Bravo in 2014, wants to become a public company. SailPoint filed paperwork for an initial public offering on Oct. 20, and plans to list on the New York Stock Exchange under the symbol SAIL. SailPoint is approaching the markets during a high … Continue reading “Following Wave of Interest in Cybersecurity, SailPoint Files for IPO”
Connecture Plans to Delist Stock From Nasdaq, List on OTCQX Exchange
Connecture, a company that sells Web-based software designed to aid consumers shopping for health plans, said Friday it plans to withdraw its shares from the Nasdaq stock exchange next month. Brookfield, WI-based Connecture (NASDAQ: [[ticker:CNXR]]) went public in 2014. Since then, the company’s shares have been listed on the Nasdaq Global Market (NGM), the middle … Continue reading “Connecture Plans to Delist Stock From Nasdaq, List on OTCQX Exchange”
DOTS Technology Pulls in $20M for Rapid Food Allergen Detector
DOTS Technology, a stealthy startup developing rapid diagnostics technologies, has raised about $20.4 million from investors, according to a document filed with the SEC. The fresh capital includes Series B preferred stock and common stock that is issuable upon the conversion of the preferred stock, according to the regulatory filing. Natick, MA-based DOTS previously raised … Continue reading “DOTS Technology Pulls in $20M for Rapid Food Allergen Detector”
Arsanis Eyes IPO to Support Clinical Testing of Pneumonia Drug
Arsanis is joining the IPO queue, filing for a stock offering that would raise cash to support a drug that combines two monoclonal antibodies with the goal of preventing pneumonia infections. The filing comes seven months after the Waltham, MA, company raised $45.5 million in a Series D investment round to finance Phase 2 studies … Continue reading “Arsanis Eyes IPO to Support Clinical Testing of Pneumonia Drug”
WSU Researchers Team Sensors, Clinicians, Algorithms for Senior Care
An older woman, still living independently in a senior care community, contracts a urinary tract infection. She ignores it for a few days, because she’s had them before and maybe it will go away. She takes more trips to the bathroom. The infection worsens and creates side effects including dizziness. She falls, breaks her hip, … Continue reading “WSU Researchers Team Sensors, Clinicians, Algorithms for Senior Care”
After Natural Disasters, Bluelock Helps Companies Recover Their Data
When hurricanes and other natural disasters strike, buildings and other physical structures aren’t the only things at risk of being destroyed. Crucial data and IT infrastructure can also be lost as a result of inclement weather, and a sector called “disaster-recovery-as-a-service” (DRaaS) has emerged, along with new cloud-based tools, to help mitigate the damage. Indianapolis-based … Continue reading “After Natural Disasters, Bluelock Helps Companies Recover Their Data”
Xconomy Q&A: An Update with Arcturus Therapeutics CEO Joseph Payne
Things have been moving quickly in recent weeks for the San Diego RNA drug developer Arcturus Therapeutics. After initiating a reverse merger last month, Arcturus signed a research collaboration and worldwide licensing agreement with Janssen Pharmaceuticals, part of the Johnson & Johnson (NYSE: [[ticker:JNJ]]) family of companies. In a statement last week, Arcturus said it … Continue reading “Xconomy Q&A: An Update with Arcturus Therapeutics CEO Joseph Payne”
Back to the (Near) Future: Join Us for San Diego Life Sciences 2022
In 2010, Xconomy convened “San Diego Life Sciences 2030,” a séance with the soothsayers of San Diego as they gazed into the future at what the local life sciences landscape might look like 20 years from now. This December, we are gathering some visionaries from the past and present for another look into the future—only … Continue reading “Back to the (Near) Future: Join Us for San Diego Life Sciences 2022”
Devoted Health, Led by Athenahealth Alums Ed & Todd Park, Bags $62M
[Updated 10/23/17, 12:27 pm. See below.] Devoted Health, a new healthcare company created by former Athenahealth leaders, has raised nearly $62 million from investors, according to a document filed with the SEC. Devoted has now raised a total of $69 million from Venrock and other groups and individual investors, spokesman Kenneth Baer said in an … Continue reading “Devoted Health, Led by Athenahealth Alums Ed & Todd Park, Bags $62M”
Xconomy Young Innovator Award Winner Armon Sharei—CEO Before 30
It was by accident that Armon Sharei first discovered the technology that his startup, SQZ Biotech, is now using to develop cell therapies for cancer. As a grad student at MIT, he and his collaborators developed a relatively quick and simple way to deliver large molecules such as proteins into cells—by squeezing those cells enough … Continue reading “Xconomy Young Innovator Award Winner Armon Sharei—CEO Before 30”
Solvvy Raises $12M Series A for AI-Enhanced Customer Self-Service
[Corrected 10/23/17, 9:30 am. See below.] Customers who try to get straight answers from retail support desks or telecom companies often end up leaning on their phone’s “Operator” button after a robot voice comes on the line and says, “How can I help you? I can understand spoken questions.” Nope. And how many people have … Continue reading “Solvvy Raises $12M Series A for AI-Enhanced Customer Self-Service”
TAI Diagnostics, RPRD, Wellbe, & More: This Week’s WI Watchlist
Stay current on the latest news from Wisconsin’s innovation community with these recent headlines: —TAI Diagnostics, a Wauwatosa-based startup seeking to commercialize a non-invasive test to monitor the health of heart transplant recipients, raised more than $1.7 million from 24 investors, according to an SEC filing that first became public on Thursday. The company’s test … Continue reading “TAI Diagnostics, RPRD, Wellbe, & More: This Week’s WI Watchlist”
Athenahealth Cuts Jobs and Offices; Wall Street Cheers Profit Focus
Investors are rewarding Athenahealth’s cost-cutting plan to shore up its bottom line. The Watertown, MA-based healthcare IT company’s stock (NASDAQ: [[ticker:ATHN]]) shot up more than 10 percent during Friday trading. (As of this writing Friday afternoon, it’s trading around $125, up about 8 percent from the previous day’s closing price.) On Thursday, Athenahealth said it … Continue reading “Athenahealth Cuts Jobs and Offices; Wall Street Cheers Profit Focus”
Five Questions For … Chelsea Collier, Smart Cities Advocate in Austin
Austin—Call her the accidental innovator. Chelsea Collier didn’t set out to be part of Austin’s innovation ecosystem, she says, adding that “it just sort of evolved over time through a sense of curiosity.” After working in a variety of marketing roles, including a job with the Office of the Governor for the State of Texas, … Continue reading “Five Questions For … Chelsea Collier, Smart Cities Advocate in Austin”
Clinical Trial Lab Intrinsic Imaging Joins Rise of AI in Radiology
San Antonio — Algorithms are now a silent, ever-present part of life, turning the wheels that operate our favorite apps, games, television programs, and more. As the complexity of those equations expands, artificial intelligence and deep-learning algorithms are increasingly extending into fields such as healthcare, including diagnostics, which aim to catch health problems in patients. IBM’s … Continue reading “Clinical Trial Lab Intrinsic Imaging Joins Rise of AI in Radiology”
Bio Roundup: Kite’s CAR-T Approved, Obamacare Fix & Lilly mRNA Deal
Kite Pharma wasn’t expecting a regulatory decision for its non-Hodgkin lymphoma treatment until November, but this week, the company got the FDA’s O.K. The approval of axicabtagene ciloleucel (Yescarta) marks the second time in the two months that the FDA has given the nod to a CAR-T therapy, a treatment made from a patient’s own … Continue reading “Bio Roundup: Kite’s CAR-T Approved, Obamacare Fix & Lilly mRNA Deal”
Techstars Mobility Event: Detroit’s Momentum Clear as Startups Shine
Eleven startups that spent the summer working in the Techstars Mobility accelerator program took to the stage to pitch their technologies to a packed house of investors, entrepreneurs, media, and other stakeholders at the Detroit Film Theatre Wednesday. According to Techstars, this demo day event is the world’s largest of its kind. Each company was introduced by … Continue reading “Techstars Mobility Event: Detroit’s Momentum Clear as Startups Shine”
Leerink’s Cozzens on New Health IT Fund, A.I.’s Future as a Platform
Despite uncertainty over the future of the Affordable Care Act, investors continue to see opportunities to build successful businesses in healthcare technology and related services. For several years, the common refrain among healthtech investors has been that the implementation of electronic medical records (EMRs) and the shift from a fee-for-service payments structure to so-called value-based … Continue reading “Leerink’s Cozzens on New Health IT Fund, A.I.’s Future as a Platform”
JPMorgan Chase to Buy WePay; Venmo Adds Merchant Payments
Banks and financial technology companies are scrambling for territory in the online payments arena, as they compete to offer the safest and most convenient digital transaction mechanisms for both consumers and merchants. This week, JPMorgan Chase announced an agreement to acquire WePay, a Redwood City, CA-based company that helps software makers build a payment function … Continue reading “JPMorgan Chase to Buy WePay; Venmo Adds Merchant Payments”
Microsoft, Packers to Spend $10M to Create Startup Hub in Green Bay
The NFL’s Green Bay Packers attract tens of thousands of fans from Wisconsin and other states whenever the team plays a home game at Lambeau Field. Now, through a new, $10 million partnership with Microsoft, the Packers are hoping to attract entrepreneurs and tech startups to Green Bay, and develop new products and services there. … Continue reading “Microsoft, Packers to Spend $10M to Create Startup Hub in Green Bay”
Level Playing Field? How Big Company Dominance May Hinder Innovation
The conventional wisdom about Silicon Valley is that it’s a playground for the underdogs, a fertile ground for young entrepreneurs building startups that are going to “change the world.” Instead, the Bay Area—while, yes, still home to thirsty young entrepreneurs—is increasingly the stomping grounds of a few major tech companies that have come to dominate … Continue reading “Level Playing Field? How Big Company Dominance May Hinder Innovation”
With Pitches for HQ2 Made, Cities Wait on Amazon’s 2018 Decision
From Portland to Pittsburgh, it’s likely that every city in the U.S. with more than 1 million people has made its case to Amazon to locate the company’s second headquarters there. At least, hopefully they have already, because today—if you haven’t heard—was the deadline to apply. Amazon sent North America into a frenzy after announcing … Continue reading “With Pitches for HQ2 Made, Cities Wait on Amazon’s 2018 Decision”
For Key Study, UniQure Allowed to Swap Hemophilia Gene Therapies
UniQure is trying to get to the finish line for a hemophilia B gene therapy by switching horses mid-race—and it says it has the blessing from regulators to make the unusual change. The company had been testing a gene therapy candidate called AMT-060 in early-stage clinical trials, with good data to show for it. But … Continue reading “For Key Study, UniQure Allowed to Swap Hemophilia Gene Therapies”
Lab Focused on Human-Centered Design Moves to Put San Diego on Map
For Michèle Morris, the big question hanging over organizers as they laid the groundwork last year for the first Design Forward Summit was whether the innovation community in San Diego understood the value of design. “We didn’t know who was going to show up—and 600 people showed up,” said Morris, who is associate director of … Continue reading “Lab Focused on Human-Centered Design Moves to Put San Diego on Map”
At Lambeau Field, Case & Vance Plot a Path for Emerging Startup Hubs
Green Bay, WI, is among the smallest of the 30-plus cities Steve Case and other leaders of his venture capital firm Revolution have visited since 2014 as part of its national “Rise of the Rest” tour, but Case nonetheless said he sees some of the seeds that could help sprout a cluster of high-tech businesses … Continue reading “At Lambeau Field, Case & Vance Plot a Path for Emerging Startup Hubs”
Kite Nabs First Adult CAR-T Approval With Notable Uptick Of Cures
For the second time in two months, remarkable recoveries from desperate cases of cancer have led to early approval of a cutting-edge therapy called CAR-T, which is made from a patient’s own genetically engineered cells. More than a month before the decision was due, the FDA has given the nod to axicabtagene ciloleucel, now branded … Continue reading “Kite Nabs First Adult CAR-T Approval With Notable Uptick Of Cures”
VelocityTX Releases Early Design for Texas Startup “Innovation Center”
San Antonio—A new “superhub” for entrepreneurs and startups in San Antonio is taking shape—at least on paper. VelocityTX, an organization unveiled last month that plans to support and promote local startups, released early renderings of its plans for a three-building “innovation center,” which it says will include an event space, labs, offices, and other resources … Continue reading “VelocityTX Releases Early Design for Texas Startup “Innovation Center””
GE & Apple Unite to Bring Industrial Apps to iPhones & iPads
General Electric’s push to remake itself as a software-focused industrial manufacturer took another step forward today with the announcement of a partnership with Silicon Valley giant Apple. The companies are rolling out a software development kit that enables developers to create apps for Apple’s iPhone and iPad that use GE’s Predix, a cloud-based software platform … Continue reading “GE & Apple Unite to Bring Industrial Apps to iPhones & iPads”
Eli Lilly to Pursue mRNA Cancer Vaccines with CureVac Pact
[Updated, 10/19/17, 3:17 pm. See below.] Eli Lilly is getting a foothold in messenger RNA (mRNA) cancer vaccines through a deal with CureVac that could develop up to five new therapies. Indianapolis-based Lilly (NYSE: [[ticker:LLY]]) will pay CureVac, headquarted in Germany, $50 million up front, plus make an equity investment in the company valued at … Continue reading “Eli Lilly to Pursue mRNA Cancer Vaccines with CureVac Pact”
Ann Arbor Unicorn: After $70M Series D, Duo Security Valued at $1.1B
[Updated at 1:05 p.m. on 10/17/2017 to add comments from Duo CEO Dug Song; see below.] Ann Arbor, MI-based cybersecurity startup Duo Security today announced that it has closed on a Series D financing round valued at $70 million, bringing the company’s total valuation to $1.17 billion just seven years after its inception. According to … Continue reading “Ann Arbor Unicorn: After $70M Series D, Duo Security Valued at $1.1B”
Veo Grabs $12M, Led by GV & Lux, to Help Industrial Robots “See”
True artificial intelligence is likely decades away, if it ever comes. In the meantime, companies are making robots “smarter” in less dramatic ways that nevertheless could prove quite useful. Veo Robotics is one of the players trying to boost the intelligence of industrial robots by enhancing their perception and responsiveness to their surroundings—thereby making it … Continue reading “Veo Grabs $12M, Led by GV & Lux, to Help Industrial Robots “See””
Green Bay Startup Lanehub Wins $100K Steve Case Investment
When a company ships a truckload of goods across the country, it’s often the case that the truck will return to its city of origin carrying less than a full load. Trucking, which is estimated to be a $720 billion-plus industry, could be made more efficient by putting businesses that ship products by truck in … Continue reading “Green Bay Startup Lanehub Wins $100K Steve Case Investment”
Kayyem Joins Lineup for What’s Hot in Cybersecurity on Dec. 5
Join Xconomy for its second annual cybersecurity event on December 5 at WGBH. This year, we will discuss how Boston-area cybersecurity companies are working to advance the state of the art in security automation, behavioral analytics, anti-phishing systems, and other arenas, as venture investment picks up in hot sectors like cryptocurrencies, blockchain and identity management, … Continue reading “Kayyem Joins Lineup for What’s Hot in Cybersecurity on Dec. 5”
Two Accelerator Programs Open in Austin as Texas Bolsters Ecosystem
Austin—Two new startup programs have launched in Austin in the last week: One is a Boston-based program that doesn’t take an equity stake in the startups it helps accelerate, while the second is a new branch of Techstars that’s focused on social and environmental businesses. Austin is the newest city in a growing list in … Continue reading “Two Accelerator Programs Open in Austin as Texas Bolsters Ecosystem”
Vir Biotech Vies for Global Approach to Tackling Infectious Disease
Vir Biotechnology CEO George Scangos aims to develop new infectious disease drugs that can treat people in the U.S. and other developed countries. But he also wants to make these therapies available to the developing world, where the need is great but the financial means to pay for medicine is scarce. To accomplish both goals, … Continue reading “Vir Biotech Vies for Global Approach to Tackling Infectious Disease”
ACM Partners with Academic Consortium to Train Mobility Workforce
As autonomous vehicles get closer to reality, several pressing issues loom on the workforce front. The development of self-driving cars requires specialized skills that are currently in shortage across the country. It’s also expected that certain professions will be disrupted by autonomous vehicles, and, as a result, those workers will soon need a new career … Continue reading “ACM Partners with Academic Consortium to Train Mobility Workforce”
Xconomy Bookclub: Village Capital CEO Tackles Innovation’s “Blind Spot”
Silicon Valley has written the playbook for building innovative companies that have transformed the global economy. But it doesn’t hold the exclusive patent on the only path to innovation. That’s the view of Ross Baird, the co-founder and CEO of Village Capital, a Washington, DC-based social impact venture firm, and author of the new book … Continue reading “Xconomy Bookclub: Village Capital CEO Tackles Innovation’s “Blind Spot””
Fast-Growing Vacasa Raises $103.5M for Vacation Rentals Marketplace
Vacation rental marketplace and management service Vacasa announced a $103.5 million Series B funding round, which the Portland, OR-based company says will help fund continued technology development and expansion to new markets. Vacasa, co-founded in 2009 by Eric Breon and Cliff Johnson, grew for six years without raising outside capital. Last spring it announced a … Continue reading “Fast-Growing Vacasa Raises $103.5M for Vacation Rentals Marketplace”
After Trump Sounds Off, Senate Has Adult Conversation on Drug Prices
In advance of an anticipated Senate hearing on drug prices, President Donald Trump once again denounced drug companies as “getting away with murder.” The first time he did so, using the same phrase just before his inauguration, the markets shuddered. He also said at the time that “we’re going to start bidding,” a reference to … Continue reading “After Trump Sounds Off, Senate Has Adult Conversation on Drug Prices”
After FDA Nod, TransEnterix Preps to Bring Surgical Robot to Market
TransEnterix now has regulatory clearance to bring its surgical robot to the market, but don’t expect to see surgeries performed with the technology in U.S. hospitals for at least a year, perhaps longer. Hospitals need four to six quarters to work through purchasing decisions for new capital equipment, says CEO Todd Pope. In the meantime, … Continue reading “After FDA Nod, TransEnterix Preps to Bring Surgical Robot to Market”
After Shutdown, Bridj Restarts Engine in Australia Under New Owner
[Updated 10/18/17, 2:01 pm. See below.] Bridj, the Boston-based, app-enabled transit service that shut down in the spring, is apparently making a comeback—in Australia. In a Facebook post on Friday, Bridj said its business was acquired by Australian public transportation operator Transit Systems, which plans to implement Bridj’s service in Sydney, Australia, later this year. … Continue reading “After Shutdown, Bridj Restarts Engine in Australia Under New Owner”
Gemini Reels In $42M to Target Root Causes of Age-Related Blindness
One of the biggest risk factors for vision loss is age. As people grow old, the central part of the retina can become damaged, leading patients to lose the central part of their vision in a condition called age-related macular degeneration (AMD). In recent years, scientists have found genetic factors associated with the eye damage … Continue reading “Gemini Reels In $42M to Target Root Causes of Age-Related Blindness”
From UCSF, New Sequencer Reveals Cancer Blueprints, Cell By Cell
Cells within a single tumor can have a variety of genetic fingerprints. Understanding that variety is likely a key to fighting cancer in the near future. A new biotech firm has developed a device that analyzes tumors cell by cell. Single-cell analysis is nothing new. But Mission Bio, of South San Francisco, says it taken … Continue reading “From UCSF, New Sequencer Reveals Cancer Blueprints, Cell By Cell”
AirFox ICO, XFactor’s 1st Investments & Other Boston Funding News
[Updated 10/17/17, 9:54 am. See below.] It’s time to catch up on the latest venture capital investments and other funding news from the Boston tech scene: —XFactor Ventures announced its first eight investments. The $3 million fund—formed by Flybridge Capital Partners and a group of women entrepreneurs in Boston, New York, and the Bay Area—plans … Continue reading “AirFox ICO, XFactor’s 1st Investments & Other Boston Funding News”
UW-Madison Vice Chancellor Mailick to Take Leave
Marsha Mailick, vice chancellor for research and graduate education at the University of Wisconsin-Madison, will take a temporary leave beginning Jan. 1, 2018, a spokesperson for the university said Monday. Mailick plans to step aside from her day-to-day duties at UW-Madison for much of the spring 2018 semester “due to family health considerations,” according to … Continue reading “UW-Madison Vice Chancellor Mailick to Take Leave”
Access HealthNet Raising $3M for Tools Aimed at Cutting Care Costs
When a patient with health insurance is in need of an expensive medical procedure, the actual cost of the procedure may not seem material to her once it’s clear that it will exceed the deductible—the amount the patient must pay out of pocket—set in her insurance plan. For instance, a patient whose health plan covers … Continue reading “Access HealthNet Raising $3M for Tools Aimed at Cutting Care Costs”