[Corrected 9/5/17, 12:22 p.m. See below.] The far-out idea of reprogramming a patient’s immune cells to fight cancer, known as CAR-T, entered the mainstream this week, and two numbers highlight the tale. The first is $11.9 billion, the price Gilead Sciences is paying for Kite Pharma and its cancer-fighting cell therapy pipeline. It’s one of … Continue reading “Bio Roundup: CAR-T’s Huge Week, Merck’s ‘Pib Choice & More”
Category: National
Bee Corp. Closes on Series A Funding for Hive-Monitoring Software
Bloomington, IN-based agtech startup the Bee Corp. announced this week that it has closed on a Series A investment led by Village Ventures’ Jane Martin. Elevate Ventures, High Alpha’s Scott Dorsey, and angel investors also contributed to the round. Wyatt Wells, co-founder and chief marketing officer of Bee Corp., declined to discuss financial details of … Continue reading “Bee Corp. Closes on Series A Funding for Hive-Monitoring Software”
Bill Maris Takes Stage for 2nd Act, Says New Fund Mostly Committed
[Corrected 9/1/17, 7 am. See below.] In his first public appearance since leaving Google Ventures, Bill Maris said Wednesday his new venture fund, Section 32, is nearly fully invested—less than four months after he officially unveiled its existence in the San Diego area. In a keynote talk at a venture summit in San Diego, Maris … Continue reading “Bill Maris Takes Stage for 2nd Act, Says New Fund Mostly Committed”
Gregor Joins Texas Accelerator to Advance Prostate Cancer Test
When Tobias Zutz left his job as a senior research associate at Exact Sciences in 2015, he knew he wanted his next career stop to be at a smaller organization. Zutz worked at Madison, WI-based Exact (NASDAQ: [[ticker:EXAS]]), which has commercialized a stool-based DNA test for colorectal cancer, for more than five years. During his … Continue reading “Gregor Joins Texas Accelerator to Advance Prostate Cancer Test”
Software Maker Convey Wins Innovation Award, Snags $8M for Growth
Austin—[Updated 4:34 p.m. See below.] For Convey, a startup with technology aimed at improving the process of shipping and delivery, winning an award from the Austin Chamber of Commerce last night was the cap to a busy week. The chamber gave Convey its Innovation Award during its annual business award ceremony Wednesday. Three other companies, … Continue reading “Software Maker Convey Wins Innovation Award, Snags $8M for Growth”
‘We Can’t Lose Them’: Supporting Houston’s Tech Ecosystem Post-Harvey
Houston—Like many living in the Houston area, Blair Garrou and his fellow partners at venture firm Mercury Fund were receiving a deluge of calls and texts asking how they could help people coping with the aftermath of Tropical Storm Harvey. The result is an effort announced late Wednesday called “Entrepreneurs for Houston,” a group put … Continue reading “‘We Can’t Lose Them’: Supporting Houston’s Tech Ecosystem Post-Harvey”
Novartis: CAR-T Results In One Month, Or No Charge. Why One Month?
Novartis said Wednesday that it would not charge for its newly approved cellular immunotherapy, tisagenlecleucel (Kymriah)—the first so-called CAR-T product to ever come to market—if it fails to help patients within a month. If the cell therapy, approved for kids with leukemia who have run out of other options, starts to work within a month, … Continue reading “Novartis: CAR-T Results In One Month, Or No Charge. Why One Month?”
A Decade of Innovation: Photos From Xconomy’s 10th Anniversary Bash
This summer, Xconomy celebrated a big anniversary—our 10th as a company. We got started in the Boston area (Kendall Square) in 2007 and expanded the next year to Seattle and San Diego, with many more cities and regions to come. Our mission has always been to report on cutting-edge businesses and technologies from the front … Continue reading “A Decade of Innovation: Photos From Xconomy’s 10th Anniversary Bash”
NYT on Neurable’s Brain-Controlled Virtual Reality Game: It Works
When Neurable first popped up on Xconomy’s radar in late 2015, it was a small, mostly student-led University of Michigan spinout working on cutting-edge brain-computer interface innovations that would allow people to control software using only their thoughts. Back then, it sounded exciting yet fairly far out. However, a lot has changed since. Today, Neurable is … Continue reading “NYT on Neurable’s Brain-Controlled Virtual Reality Game: It Works”
Embracing the Inevitable Changes of Self-Driving Vehicles
Read today’s news and you’d think fully autonomous vehicles—commercial vehicles, in particular—will be everywhere in the very near future. With headlines like these, it’s no wonder: Self-Driving Trucks Could be on Highways in 3 to 4 Years U.S. and Europe Race to be First to Self-Driving Trucks Ford Plans Self-Driving Car for Ride Share Fleets … Continue reading “Embracing the Inevitable Changes of Self-Driving Vehicles”
As Uber Confirms CEO Pick, A Real Change of Control?
The board of embattled ride-hailing giant Uber late Tuesday confirmed its decision to hire Expedia chief executive Dara Khosrowshahi as its new CEO. The vote was unanimous, the board wrote in an upbeat letter to Uber employees. “We’re really fortunate to gain a leader with Dara’s experience, talent and vision,” the note said. “The Board … Continue reading “As Uber Confirms CEO Pick, A Real Change of Control?”
ImageMoverMD Snags $1.2M for App That Securely Shares Patient Photos
ImageMoverMD, a Middleton, WI-based startup developing software that securely transmits pictures and videos taken with smartphones to electronic health record systems, has raised nearly $1.2 from investors. Twenty-four investors participated in the equity funding round, according to a document filed with federal securities regulators. ImageMoverMD has now raised more than $2.7 million from investors since … Continue reading “ImageMoverMD Snags $1.2M for App That Securely Shares Patient Photos”
Apps, Textbots, & Web Maps: Tech Ecosystem Aids Harvey Relief Effort
[Updated 9/1/17 3:10 pm] Houston—A Slack channel called #harvey has become a virtual command center for the city’s tech community during one of the most destructive natural disasters to hit Texas. A group of software programmers, website developers, and others meet around-the-clock on the online messaging system, exchanging code and advice to build a nearly … Continue reading “Apps, Textbots, & Web Maps: Tech Ecosystem Aids Harvey Relief Effort”
Rivals Microsoft, Amazon Let Their Intelligent Assistants Be Friends
Two of the biggest names in tech—Cortana and Alexa—are getting together. The makers of these two intelligent, voice-enabled assistants—Seattle’s tech giants, Microsoft (NASDAQ: [[ticker:MSFT]]) and Amazon (NASDAQ: [[ticker:AMZN]]), respectively—said Wednesday they are collaborating to make it easier to access one with the other. Specifically, later this year, Windows 10 users will be able to call … Continue reading “Rivals Microsoft, Amazon Let Their Intelligent Assistants Be Friends”
Novartis Wins Historic FDA Nod, Prices CAR-T For Leukemia at $475,000
Ahead of schedule, Novartis has received the first-ever approval of a genetically modified living cell therapy called CAR-T, which uses a cancer patient’s own immune cells as the medicine. Within days, children and young adults with a severe form of acute lymphoblastic leukemia could receive the treatment at a handful of centers across the U.S. … Continue reading “Novartis Wins Historic FDA Nod, Prices CAR-T For Leukemia at $475,000”
Blackhawk Pays $175M for Maine-based E-Commerce Business CashStar
CashStar, a company that makes digital gift cards and commerce software, has sold to financial tech business Blackhawk Network for $175 million in cash. Venture capital-backed CashStar will stay in New England, keeping offices in Waltham, MA and Portland, ME, where its headquarters are located. The company is becoming part of Blackhawk’s digital and incentives … Continue reading “Blackhawk Pays $175M for Maine-based E-Commerce Business CashStar”
Facebook Boston to Open New Office, Hire 500 People: Report
[Updated 8/30/17, 12:30 pm, with comment from Facebook.] Facebook is reportedly planning to go on a hiring spree in the Boston area. The giant social networking company, based in the San Francisco Bay Area, intends to move into a new office in Cambridge, MA, next year and add more than 500 local employees, the Boston … Continue reading “Facebook Boston to Open New Office, Hire 500 People: Report”
Eli Lilly Preps Rejected Rheumatoid Arthritis Drug for Resubmission
Eli Lilly is preparing to file again for FDA approval of rheumatoid arthritis drug baricitinib (Olumiant) by the end of January—this time with new information about the drug’s safety and efficacy. The FDA rejected the Indianapolis pharmaceutical company’s initial drug application in April. In July, Lilly (NYSE: [[ticker:LLY]]) said discussions with the regulator included the … Continue reading “Eli Lilly Preps Rejected Rheumatoid Arthritis Drug for Resubmission”
Otonomy Scraps Hearing Loss Drug After Phase 3 Flop, Shares Routed
Investment in experimental drugs for hearing loss, long an untapped field in the pharmaceutical industry, may be picking up, but drugs that actually help with these disorders remain elusive. One of the closest contenders suffered a big setback today, as Otonomy revealed that a drug it has been developing for Meniere’s disease, a condition defined … Continue reading “Otonomy Scraps Hearing Loss Drug After Phase 3 Flop, Shares Routed”
ESports Startup Gamer Sensei Tracks Down $4M for Video Game Coaching
[Updated 8/30/17, 8:07 am, with comments from co-founder.] The popularity of eSports is surging around the world, and elite video game competitors are getting rich winning tournaments in front of sold-out arenas. Investors think that spells opportunity for Gamer Sensei, a Boston-based startup that connects eSports players with professional gamers who provide one-on-one online lessons. … Continue reading “ESports Startup Gamer Sensei Tracks Down $4M for Video Game Coaching”
GoKid App Helps Busy Parents Connect and Share Carpooling Duties
GoKid, the carpooling app startup that went through the Techstars Mobility accelerator program in Detroit last summer, today unveiled a new enterprise version of its product for schools called GoKid Connect. Based in the Motor City and New York City, GoKid is a mobile tool that allows parents to create and manage carpooling schedules. Parents … Continue reading “GoKid App Helps Busy Parents Connect and Share Carpooling Duties”
Taking Tech Ideas Global: Connecting an Innovation Ecosystem
The word ecosystem conjures up a rain forest in Ecuador, where sunlight, soil, water, and a multitude of species exist together in a self-sustaining environment that is constantly evolving. This image from biology translates perfectly into what many people like to call an innovation ecosystem. Think of a group of people developing a new idea, … Continue reading “Taking Tech Ideas Global: Connecting an Innovation Ecosystem”
EvoNexus to Close Downtown Incubator, Consolidate in University City
EvoNexus, San Diego’s nonprofit tech incubator established seven years ago, is closing its downtown offices and consolidating its operations in a newly revamped space in University City, a suburban neighborhood about 13 miles to the north. The pro-bono incubator program, which provides tech-oriented startups with free office space and related amenities, has helped re-energize the … Continue reading “EvoNexus to Close Downtown Incubator, Consolidate in University City”
Amplero Raises $17.5M to Build A.I. System for Consumer Marketers
Picture the trove of data that companies have stored up about you over the years—your clicks, likes, posts, purchases, devices, demographics, credit score, and more. That’s the fuel for a new wave of automated, highly personalized marketing pitches. Seattle startup Amplero just raised $17.5 million to build the machine that would create those pitches “at … Continue reading “Amplero Raises $17.5M to Build A.I. System for Consumer Marketers”
Celgene Broadens Forma Deal, Adding $195M More for Drug R&D
Celgene and Forma Therapeutics are expanding their already extensive relationship. The Summit, NJ-based drugmaker has exercised a $195 million option to widen the breadth of the 2014 deal it signed with Forma to co-develop drugs for cancer and other therapeutic areas—an agreement that gave Celgene (NASDAQ: [[ticker:CELG]]) the option to buy Forma down the road. … Continue reading “Celgene Broadens Forma Deal, Adding $195M More for Drug R&D”
University of Washington Team Among Finalists in $2.5M Alexa Prize
The finalists in Amazon’s contest that recruited university student teams to develop better conversational chatbots include a team from University of Washington. Amazon (NASDAQ: [[ticker:AMZN]]) announced that the UW’s Sounding Board team is in the finals of the $2.5 million Alexa Prize competition, along with Alquist, a team from Czech Technical University in Prague; and What’s … Continue reading “University of Washington Team Among Finalists in $2.5M Alexa Prize”
Jazz Pharma, ImmunoGen Strike Up Drug Pact in Leukemia and More
ImmunoGen has yet to bring one of its own antibody cancer drugs to market, but the Waltham, MA, company has had some success with its pharma partners. On Tuesday it added Jazz Pharmaceuticals to the mix. Jazz (NASDAQ: [[ticker:JAZZ]]) is paying ImmunoGen $75 million in cash for rights to two early-stage ImmunoGen (NASDAQ: [[ticker:IMGN]]) drugs … Continue reading “Jazz Pharma, ImmunoGen Strike Up Drug Pact in Leukemia and More”
Will Merck Seek FDA Filing For Heart Drug After Lackluster Results?
News from Merck this morning on a large trial known as Reveal might signal the end of the road for a once-promising group of cholesterol-lowering medicines. It all depends on what New York drug giant Merck (NYSE: [[ticker:MRK]]) intends to do now that it has the results of the four-year, 30,449-patient trial, which tested a … Continue reading “Will Merck Seek FDA Filing For Heart Drug After Lackluster Results?”
FDA Refuses to Review Acorda Parkinson’s Drug, Shares Tumble
The heat is on Acorda Therapeutics once again. Months after Acorda lost a key group of patents, the FDA has declined to review, at least for now, an experimental Parkinson’s disease drug that is critical to the company’s future. Acorda (NASDAQ: [[ticker:ACOR]]) said this morning that the FDA has sent the Ardsley, NY, company a … Continue reading “FDA Refuses to Review Acorda Parkinson’s Drug, Shares Tumble”
Who is Dara Khosrowshahi, Uber’s Pick to be CEO?
The news broke Sunday night that Uber has offered the job of CEO to Dara Khosrowshahi, the outspoken steady hand guiding Bellevue, WA-based online travel giant Expedia (NASDAQ: [[ticker:EXPE]]) for the last dozen years. Khosrowshahi and Uber have not officially confirmed the news as of Monday evening. An internal e-mail from Barry Diller, Expedia chairman, … Continue reading “Who is Dara Khosrowshahi, Uber’s Pick to be CEO?”
To Be More Than Quick Splash, Gilead’s CAR-T Purchase Faces Hurdles
[Updated 8/28/17, 6:45p.m. ET. See below.] Gilead Sciences CEO John Milligan promised today that the company’s $11.9 billion acquisition of Kite Pharma and its cutting-edge CAR-T cell therapy would not be a “one and done” proposition. “This is a long-term play with multiple product opportunities,” Milligan said, calling it the foundation of Gilead’s “fairly nascent” … Continue reading “To Be More Than Quick Splash, Gilead’s CAR-T Purchase Faces Hurdles”
Social Media, Interactive Maps Tapped to Aid Harvey Rescue Efforts
Houston—Houston tech entrepreneur Shailendra Sinhasane spent the weekend reading desperate social media posts from people asking to be rescued from the rising floodwaters caused by Hurricane Harvey. “There were people on Facebook saying they are ready with their trucks to help, saying we have boats, but with social media posts, we had no idea who … Continue reading “Social Media, Interactive Maps Tapped to Aid Harvey Rescue Efforts”
LinkedIn Opens Downtown Detroit Office, Starts Search for Employees
It never fails: Every time we briefly close the Xconomy Detroit/Ann Arbor office to take a vacation, an important piece of local tech news hits. This time around, LinkedIn, the social media site primarily used for professional networking and resume-sharing, announced it is opening a Detroit office—the company’s first new office in 10 years. Last … Continue reading “LinkedIn Opens Downtown Detroit Office, Starts Search for Employees”
SetPoint Nabs $30M For More Tests of Bioelectric Device as RA Therapy
SetPoint Medical is trying to use tiny pulses of electricity to treat inflammation in the body, and it now has an additional $30 million in funding to continue testing its approach in humans. The capital infusion announced Monday for SetPoint is a Series D round of investment. The company says it plans to use the … Continue reading “SetPoint Nabs $30M For More Tests of Bioelectric Device as RA Therapy”
Uber Picks Expedia Leader As CEO Over Immelt, Whitman: Reports
In a last-minute shuffle Sunday night, Uber’s strife-ridden board chose Expedia CEO Dara Khosrowshahi as the new chief executive for the troubled ride-hailing giant, Recode reported. Khosrowshahi, whose name hadn’t been rumored as a CEO prospect for Uber, was waiting in the wings after the exits over the weekend of two other finalists for the … Continue reading “Uber Picks Expedia Leader As CEO Over Immelt, Whitman: Reports”
Power to the Patient: Meet Xconomy’s Patient Partnership Award Finalists
It’s clear at this point that patients are no longer just subjects in clinical trials. Thanks to the growing power of patient advocacy groups—and an FDA eager to hear their perspective—patients and drug developers are increasingly finding creating ways to work together, as we’ve seen with the four finalists in the Patient Partnership category of … Continue reading “Power to the Patient: Meet Xconomy’s Patient Partnership Award Finalists”
Gilead Makes Long-Awaited Splash With $12B Bet on Kite, Cell Therapy
Investors have been waiting for years for Gilead Sciences to make another big splash. This morning, it finally did, agreeing to buy Kite Pharma for close to $12 billion in a significant bet on the success of an emerging, cutting edge type of cancer immunotherapy known as CAR-T. Gilead (NASDAQ: [[ticker:GILD]]), of Foster City, CA, … Continue reading “Gilead Makes Long-Awaited Splash With $12B Bet on Kite, Cell Therapy”
Five Questions For … Dallas Entrepreneur & Mavericks Owner Mark Cuban
Dallas—Among the outsized personalities of Texas innovators, Mark Cuban stands out. The billionaire entrepreneur and investor owns the Dallas Mavericks professional basketball team, appears on the “Shark Tank” TV show, and now, perhaps, is mulling adding the Oval Office to his resume? Cuban, who made his fortune in 1999 when he sold his company Broadcast.com … Continue reading “Five Questions For … Dallas Entrepreneur & Mavericks Owner Mark Cuban”
Seattle Week in Review: Amazon, Whole Foods, Salmon Spill, Beef Beef
The dog days of summer are here, but there’s plenty of tech news to catch up on. Here’s a look at what’s happening with Amazon’s acquisition of Whole Foods and its amazing impact on real estate in Seattle and elsewhere; a farmed salmon spill in Puget Sound; a careful look at Crowd Cow and the … Continue reading “Seattle Week in Review: Amazon, Whole Foods, Salmon Spill, Beef Beef”
UT Nominates MD Anderson Alum Peter Pisters to Replace DePinho
Austin—The University of Texas System Board of Regents Friday afternoon announced that Peter W.T. Pisters from the University Health Network in Toronto as the sole finalist to lead UT’s MD Anderson Cancer Center. The regents approved his nomination unanimously in a specially called board meeting in which board chairman Paul Foster said several candidates were … Continue reading “UT Nominates MD Anderson Alum Peter Pisters to Replace DePinho”
RegenxBio to Acquire Dimension Tx in Combo of Gene Therapy Companies
Dimension Therapeutics has agreed to be acquired by RegenxBio, the gene therapy developer that originally helped form the company four years ago. RegenxBio (NASDAQ: [[ticker:RGNX]]), based in Rockville, MD, will pay $3.41 per share in the all-stock deal valued at approximately $86 million. By comparison, Cambridge, MA-based Dimension (NASDAQ: [[ticker:DMTX]]) went public at $13 per … Continue reading “RegenxBio to Acquire Dimension Tx in Combo of Gene Therapy Companies”
Bio Roundup: Drug Price Debates, NY Bio Blooms & CEOs Take Social Stand
In these politically divided times, Americans this week found near universal agreement on one thing: A celestial event that plunges a summer day into temporary darkness is a captivating experience. The totality of the solar eclipse lasted less than 3 minutes. If you missed it, you’ll have to wait until 2024 for the next one. … Continue reading “Bio Roundup: Drug Price Debates, NY Bio Blooms & CEOs Take Social Stand”
In a CEO Search Like Uber’s, Is There Haggling Room for Contenders?
Landing the top executive’s job at a prominent company is usually considered a career coup. But a CEO search can also be a troubled company’s hunt for a savior. A leader facing a turnaround challenge may well ask, “What am I getting myself into?” Current case in point: Uber, which ticks many boxes on the … Continue reading “In a CEO Search Like Uber’s, Is There Haggling Room for Contenders?”
Smart Choice, Foxconn, JCI, Generac & More: This Week’s WI Watchlist
Stay current on news from Wisconsin’s innovation community with these recent headlines: —Smart Choice MRI, which is based in Chicago but has roots and dozens of employees in the Milwaukee area, raised an undisclosed amount of financing from Aurora, CO-based UCHealth, according to a BizTimes Media report. Smart Choice operates a chain of imaging centers … Continue reading “Smart Choice, Foxconn, JCI, Generac & More: This Week’s WI Watchlist”
Boston Tech Watch: Rethink Robotics, SquadLocker, Semcasting & More
There was a flurry of tech deals announced this week in Boston, including the acquisitions of Applause, Digital Lumens, and Dragon Innovation, and a $6 million investment in GNS Healthcare. Here are a few more deals you might have missed: —Rethink Robotics raised $18 million from investors, part of a funding round announced last December … Continue reading “Boston Tech Watch: Rethink Robotics, SquadLocker, Semcasting & More”
Healthcare + A.I. Northwest Features Microsoft, Allen Institute on Nov. 9
Artificial intelligence technologies could have a profound impact on the healthcare system, and the Northwest’s technology giants, world-class medical and technology researchers, and startup entrepreneurs are poised to make it happen. Xconomy Seattle invites you to preview the opportunities and challenges ahead at Healthcare + A.I. Northwest, our next innovation conference coming up on Nov. … Continue reading “Healthcare + A.I. Northwest Features Microsoft, Allen Institute on Nov. 9”
Regional Innovators Start Work to Promote Texas Ecosystem as a Whole
In building thriving startup ecosystems, experts say density is key. The idea is to have a critical mass of founders, investors, mentors, and executives mixing and mingling together. That sort of serendipity allows ideas to fully blossom. Think of Kendall Square or Sand Hill Road. But, for communities not on the East or West Coasts, … Continue reading “Regional Innovators Start Work to Promote Texas Ecosystem as a Whole”
Brazilian Ag Bio Firm CTC Plans U.S. Expansion; RTP in Running for R&D Site
Brazilian sugarcane biotechnology company CTC is planning a U.S. expansion, and North Carolina’s Research Triangle is one of four regions on its short list for a future research and development site. Besides North Carolina, the company is also considering Florida, Louisiana, and Missouri for its new outpost. Diego Ferres, head of R&D at CTC, visited … Continue reading “Brazilian Ag Bio Firm CTC Plans U.S. Expansion; RTP in Running for R&D Site”
Stand Up to “Bully” Trump: Bio CEOs Levin, Holtzman Call to Their Peers
Biotech CEOs Jeremy Levin and Steve Holtzman have watched the violence in Charlottesville, VA, and its continuing aftermath with disgust. But they aren’t just upset about the rally, the violence and death, and President Trump’s equivocating blame of “many sides.” Levin, of Ovid Therapeutics (NASDAQ: [[ticker:OVID]]), and Holtzman, of Decibel Therapeutics, have been disappointed with … Continue reading “Stand Up to “Bully” Trump: Bio CEOs Levin, Holtzman Call to Their Peers”
70% Repatha Cut? Amgen Counters With Own Study To Justify Price
Writing in the Journal of the American Medical Association, researchers at the University of California, San Francisco argued this week that the price of the cholesterol-fighting drug evolocumab (Repatha) should come down 70 percent, to $4,215 a year, to be cost-effective. But a separate study, published today in JAMA Cardiology and funded by the drug’s … Continue reading “70% Repatha Cut? Amgen Counters With Own Study To Justify Price”