It’s been a tough run for Regulus Therapeutics, and things haven’t gotten any better this morning. Regulus is scrapping two programs, and AstraZeneca has kicked back a third drug to boot, sending Regulus shares down to their lowest levels ever. San Diego, CA-based Regulus (NASDAQ: [[ticker:RGLS]]) said this morning that it will stop development of … Continue reading “Regulus Dumps Two Drugs, AstraZeneca Sends Back Another, Shares Fall”
Category: National
Dragonfly, Tyler Jacks’s Disney-Backed Startup, Gets $33M in Celgene Deal
Dragonfly Therapeutics, a stealthy startup formed by well-known cancer researchers on both coasts and backed by a high-powered group of family offices, has inked its first partnership. Celgene, of Summit, NJ, is paying Dragonfly $33 million up front for the chance to co-develop up to four blood cancer drugs. The deal is a modest bet … Continue reading “Dragonfly, Tyler Jacks’s Disney-Backed Startup, Gets $33M in Celgene Deal”
San Antonio Aims to Tap Into Air Force’s Prominence in Cybersecurity
San Antonio—Anyone who has heard of Lockheed Martin, General Dynamics, or Raytheon probably knows the federal government spends billions of dollars every year on defense. And while much of that funding goes toward buying missiles, planes, and ships, cybersecurity is gaining greater importance. President Trump’s budget proposal includes a $3 billion boost to cybersecurity funding … Continue reading “San Antonio Aims to Tap Into Air Force’s Prominence in Cybersecurity”
Exact, WARF, Murfie, Microbes, & More: This Week’s WI Watchlist
Keep up with the latest news from Wisconsin’s innovation community with these recent headlines. —Madison-based Exact Sciences (NASDAQ: [[ticker:EXAS]]), whose flagship product is a stool-based screening test for colorectal cancer, issued a recall of 15 pieces of equipment used to mix stool samples in preparation for testing at the company’s lab. According to the FDA, … Continue reading “Exact, WARF, Murfie, Microbes, & More: This Week’s WI Watchlist”
Seattle Week in Review: The A.I. Driver/Psychiatrist Will See You Now
If the TV show Frasier, which aired from 1993 to 2004, were rebooted and set in Seattle of, say, 2037, Dr. Frasier Crane would be an artificial intelligence avatar that would pick you up in a driverless, all-electric luxury sedan, and, after confirming your destination, inform you in an approximation of Kelsey Grammer’s dulcet tone: … Continue reading “Seattle Week in Review: The A.I. Driver/Psychiatrist Will See You Now”
Stratatech Starts Latest Study of Skin-Like Tissue in Burn Patients
Stratatech said this week that the first patient has been enrolled in a Phase 3 clinical trial of the cell-based regenerative skin tissue the company is developing. The aim of the study is to assess the safety and efficacy of StrataGraft, the company’s flagship skin replacement product, at coaxing the bodies of patients with burn … Continue reading “Stratatech Starts Latest Study of Skin-Like Tissue in Burn Patients”
High-Net-Worth Michiganders: Time to “Get Off the Dime,” Brophy Says
When the Michigan Venture Capital Association (MVCA) unveiled the findings in its 2017 annual report at a public event in April, there was a lot to celebrate: a 48 percent increase in venture-backed startups over the past five years; every dollar invested by a Michigan firm attracting $4.61 in out-of-state capital; and a total of … Continue reading “High-Net-Worth Michiganders: Time to “Get Off the Dime,” Brophy Says”
Getting Women On Boards: Three Ways to Increase the Numbers
The hot topic of getting more qualified women on corporate boards continues unabated. Recent statistics show how companies with women prominently serving in such capacities experience higher-than-average financial performance. A major investment group even declared earlier this year that it would push to get women on the boards of the companies in their portfolio. Yet … Continue reading “Getting Women On Boards: Three Ways to Increase the Numbers”
With GreatCall Deal, GTCR Looks to Expand Healthtech for Boomers
With this week’s buyout of GreatCall, the Chicago-based private equity firm GTCR just placed a big bet that healthtech for the aging wave of baby boomers will be a big business. GreatCall operates a virtual telecommunications network that provides healthtech products and services for more than 800,000 older consumers throughout the United States. The company, … Continue reading “With GreatCall Deal, GTCR Looks to Expand Healthtech for Boomers”
Robot Reshuffle: Alphabet Sells Boston Dynamics & Schaft to SoftBank
In a deal that was a long time coming, Google’s parent company Alphabet has sold robotics firms Boston Dynamics and Schaft to Japanese tech giant SoftBank. Terms of the deal were not disclosed. Boston Dynamics was rumored to be on the market for the past year, with potential suitors including Toyota and Amazon. The robotics … Continue reading “Robot Reshuffle: Alphabet Sells Boston Dynamics & Schaft to SoftBank”
Bio Roundup: ASCO Digested, Juliet Unveiled, PTC Slated & More
The New York Times Magazine wrote a few weeks ago about the extraordinary metabolic changes in a python after it gulps down a 50,000 calorie meal. The biomedical world was like a postprandial python this week; after extending its maw around the supersized meal of news and data from the American Society for Clinical Oncology … Continue reading “Bio Roundup: ASCO Digested, Juliet Unveiled, PTC Slated & More”
Boston Tech Watch: Uber, Causeway Media, Cure Forward, Tive & More
This week in Boston tech, we’re tracking a second fund for a venture capital firm co-led by the co-owner of the Boston Celtics, a high-profile hire for Uber, a new cybersecurity startup, and the end of the road for a digital health company. Read on for details. —Causeway Media Partners raised $207.3 million for its … Continue reading “Boston Tech Watch: Uber, Causeway Media, Cure Forward, Tive & More”
Judge Upholds $234M Award to WARF in Apple Patent Case
A federal judge on Tuesday rejected Apple’s request to overturn a jury’s finding that the company must pay $234 million in damages to the Wisconsin Alumni Research Foundation (WARF) for infringing on a patent held by the foundation, according to a statement from WARF and multiple news reports. WARF manages patents and licensing of intellectual … Continue reading “Judge Upholds $234M Award to WARF in Apple Patent Case”
DimensionalMechanics Joins Rush to Bring A.I. to All
When he was 13, Rajeev Dutt, inspired by science-fiction authors such as Isaac Asimov, envisioned a world with ubiquitous artificial intelligence. His startup, DimensionalMechanics, is one of many companies large and small trying to deliver on that vision. The company has built a set of software tools meant to make it easier for non-experts to … Continue reading “DimensionalMechanics Joins Rush to Bring A.I. to All”
Athenahealth Gets Personal Assistant, A.I. With $63M Praxify Buyout
Athenahealth is further building out its suite of applications and programs that help physicians and patients interact with electronic medical records with its largest acquisition since 2013, announcing today that it has bought Palo Alto, CA-based Praxify Technologies for $63 million. With Praxify, Watertown, MA-based Athenahealth (NASDAQ: [[ticker:ATHN]]) is getting a company that has built … Continue reading “Athenahealth Gets Personal Assistant, A.I. With $63M Praxify Buyout”
Grubhub Gobbles Foodler as Online Food-Ordering Sector Consolidates
The shakeout of the crowded field of online food-ordering and delivery companies continues. Chicago-based Grubhub (NYSE: [[ticker:GRUB]]) has signed an agreement to acquire Boston-based rival Foodler. Terms of the all-cash transaction weren’t disclosed. The deal will add more than $80 million of annualized gross food sales to Grubhub’s business in 2017, according to a press … Continue reading “Grubhub Gobbles Foodler as Online Food-Ordering Sector Consolidates”
Eli Lilly Fronts $55M for Rights to KeyBioscience’s Diabetes Drugs
With competition threatening to chip away at its diabetes stronghold, Eli Lilly is shoring up its pipeline with a deal that gives the company access to a potential new class of diabetes drugs. Indianapolis-based Lilly (NYSE: [[ticker:LLY]]) has agreed to pay $55 million up front to KeyBioscience in exchange for rights to compounds in various … Continue reading “Eli Lilly Fronts $55M for Rights to KeyBioscience’s Diabetes Drugs”
Microsoft Confirms Acquisition of Cybersecurity Firm Hexadite
Microsoft announced on Thursday that it has signed an agreement to purchase Boston-based cybersecurity startup Hexadite. The acquisition hasn’t closed yet. The deal was first reported on May 24 by Israeli publication Calcalist, but Microsoft didn’t confirm the acquisition until today’s announcement. No terms were disclosed in the news release, but Calcalist previously reported the price … Continue reading “Microsoft Confirms Acquisition of Cybersecurity Firm Hexadite”
LogMeIn, Riding Stock Growth After Citrix Deal, Launches CRM Product
LogMeIn today introduced a new digital customer service product, continuing the Boston-based company’s efforts to expand its offerings beyond its long-time calling card of remote computer access and troubleshooting software. The announcement marks LogMeIn’s first significant product launch since its $1.8 billion merger with the GoTo business of California rival Citrix Systems, a spokeswoman says. … Continue reading “LogMeIn, Riding Stock Growth After Citrix Deal, Launches CRM Product”
With Ties to Thiel and Musk, Fintech Startup Addepar Adds $140M
Addepar, a wealth management software company co-founded in 2009 by Palantir Technologies co-founder Joe Lonsdale, announced today it has raised $140 million to expand its services to investors and their advisors. It’s a big round for a financial tech company, even for Silicon Valley. The Mountain View, CA-based company’s Series D financing round was co-led … Continue reading “With Ties to Thiel and Musk, Fintech Startup Addepar Adds $140M”
Harvard Biotech Spinout Lands $10M to Make Platelets From Stem Cells
If you’ve donated blood, you probably received a follow-up message asking you to consider a platelet donation. Donation centers must constantly replenish their blood supplies, but the need for platelets is particularly acute. Compared to other components of blood, platelets are fragile and short lived, which puts high demand on the small supply of these … Continue reading “Harvard Biotech Spinout Lands $10M to Make Platelets From Stem Cells”
Northern Star Fire’s E-compass Wins Governor’s Business Plan Contest
According to the U.S. Fire Administration, 1,002 firefighters died while on duty between 2006 and 2015. Jeff Dykes, a fire captain and entrepreneur, believes some of those fatalities could have been avoided if the firefighters had been able to determine what direction they were facing while inside of burning buildings. Dykes is the founder of Eau Claire, … Continue reading “Northern Star Fire’s E-compass Wins Governor’s Business Plan Contest”
States Seek Slice of $7 Trillion Autonomous Vehicle Industry
As U.S. states and cites vie to capture some of the trillions of dollars of economic activity expected to flow from a shift to autonomous vehicles in the coming decades, Washington on Wednesday joined about two dozen states that have paved the way for testing driverless cars. Washington Gov. Jay Inslee directed relevant state agencies … Continue reading “States Seek Slice of $7 Trillion Autonomous Vehicle Industry”
Exact Sciences To Sell 7 to 8 Million Shares in Stock Offering
Exact Sciences today announced that it is selling 7 million shares of common stock at $35 per share, a 4.5 discount off of Tuesday’s closing price. The offering is underwritten by Bank of America Merrill Lynch, Jefferies, and Robert W. Baird & Co., which have the option to purchase up to 1.05 million additional shares. … Continue reading “Exact Sciences To Sell 7 to 8 Million Shares in Stock Offering”
San Antonio’s Geekdom Fund Adds to Investments With $20M Second Fund
San Antonio—The Texas IT-focused venture capital firm Geekdom Fund has closed a $20 million fund, which it started raising last year. The San Antonio venture firm was founded in 2014 by Michael Girdley, Don Douglas, Mike Troy, and Cole Wollak, and closed its first fund at $3.4 million in 2015. Geekdom Fund has always invested … Continue reading “San Antonio’s Geekdom Fund Adds to Investments With $20M Second Fund”
Coburn, Ex-cleantech Accelerator Founder, Joins Shell Tech Ventures
Houston—While leading the energy-focused Surge Accelerator, Kirk Coburn says he was never “behind the curtain” to truly understand how technology could help solve problems for major oil companies. “I was never inside to see how the soup’s being made,” he says. “I get that opportunity now. I’m part of the team.” The opportunity he’s alluding … Continue reading “Coburn, Ex-cleantech Accelerator Founder, Joins Shell Tech Ventures”
The Engine, Carbonite, Lola, and More: Here’s the Agenda for IMPACT
[Updated, 6/8/17 8:50am. See below] Hard to believe we are just over two weeks away from Xconomy’s big annual tech event in June. IMPACT will bring together leaders from New England’s technology and business community to discuss the future of their fields, but also issues of broader importance: things like influencing policy and making a … Continue reading “The Engine, Carbonite, Lola, and More: Here’s the Agenda for IMPACT”
Madison Startup Asto Tests Its CT Scanner on a Standing Horse
Asto CT, a Madison, WI-based startup developing a computed tomography (CT) device for performing scans of animals, has taken a major step forward this spring in its effort to commercialize its machine. The results could impact the field of CT technology for veterinarians and other specialists. In late April, one of the company’s scanners was … Continue reading “Madison Startup Asto Tests Its CT Scanner on a Standing Horse”
California’s Surf Air Acquires Dallas-Based Airline Company Rise
[Updated 6/7/17 12:21 pm. See below.] Dallas—Dallas-based aviation startup Rise has been acquired by Surf Air, a California airline membership company. Terms of the deal were not disclosed. Rise founder Nick Kennedy will remain with the company as president of the Texas region. [Updated to include comments from the CEO.]“Members loved what we were doing and wanted … Continue reading “California’s Surf Air Acquires Dallas-Based Airline Company Rise”
Grab Your Ticket for What’s Hot in Cancer Immunotherapy 2017 on June 14th
We are just a week away from “What’s Hot in Cancer Immunotherapy 2017”—and we’re offering you a chance to save $100. Join us for an afternoon of spotlight talks, fireside chats, and panel discussions that will delve into a variety of cancer immunotherapy topics. It all takes place on Wednesday, June 14, at Fred Hutchinson … Continue reading “Grab Your Ticket for What’s Hot in Cancer Immunotherapy 2017 on June 14th”
“It’s Shame On Us If We Blow It”: Highlights From NY Seizes the Momentum
Mike Foley, a drug industry veteran and director of the Tri-Institutional Therapeutics Discovery Institute, has a pointed message for the New York life sciences industry: Don’t waste the moment. Changing the course of New York biotech has been a saga that dates back to the 1990s, and as Xconomy has detailed, progress has been made … Continue reading ““It’s Shame On Us If We Blow It”: Highlights From NY Seizes the Momentum”
Quantifi Launches With A.I. Approach to Digital Marketing Strategy
A new marketing tech firm called Quantifi launched today out of startup studio High Alpha, complete with $2 million in seed funding from a handful of investors. The Indianapolis-based company seeks to offer digital marketers a research and development platform where they can test new products and strategies before committing to a specific kind of campaign. … Continue reading “Quantifi Launches With A.I. Approach to Digital Marketing Strategy”
Snap Buys Placed, Maker of Ad Attribution Technology
Placed, a Seattle company that tracks traffic to physical locations using mobile devices to help measure the offline impact of online advertising, has been acquired by camera company Snap Inc. (NYSE: [[ticker:SNAP]]), the maker of messaging app Snapchat. Bloomberg, citing unnamed sources, pegged the value of the deal at $125 million with stock payouts that … Continue reading “Snap Buys Placed, Maker of Ad Attribution Technology”
Lung Therapeutics Breathes In $14M Investment for Respiratory Drugs
Austin—Lung Therapeutics has closed a $14.3 million round of investment that the Austin, TX-based company will use to continue a clinical trial testing its lead drug, a treatment for potentially lethal complications of pneumonia. Bios Partners, a Fort Worth, TX-based private equity firm, led the Series B round of investment. Earlier investor UT Horizon Fund … Continue reading “Lung Therapeutics Breathes In $14M Investment for Respiratory Drugs”
Freight Farms Lands $7.3M as Agriculture Meets Data & Automation
Investors have planted $7.3 million in Freight Farms to help the Boston-based startup bring its micro-farms to more places around the globe—and potentially even beyond. The investors in the Series B round include return backer Spark Capital, also based in Boston. The news was first reported by the Wall Street Journal on Monday. Freight Farms’ … Continue reading “Freight Farms Lands $7.3M as Agriculture Meets Data & Automation”
ASCO Roundup: Checkpoint Combos, Tumor Profiling, Financial Toxicity
[Note: Ben Fidler coauthored this report.] The American Society of Clinical Oncology conference is wrapping up, and the closely watched medical meeting-slash-hype machine produced its usual array of data. There were a few big business-focused “horse race” stories—one company’s stumble was another company’s gain—but much of the news consisted of mid-trial updates that companies produce … Continue reading “ASCO Roundup: Checkpoint Combos, Tumor Profiling, Financial Toxicity”
Lyft, NuTonomy Team Up on Self-Driving Cars as Alliances Proliferate
As companies rev up their work on self-driving vehicles, they’re increasingly forming alliances with each other to help deliver on the technology’s potential—and fend off competitors. The latest example is a partnership announced Tuesday between Lyft, the San Francisco-based ride-hailing app company, and NuTonomy, a Boston-based developer of software for driverless vehicles. The research and … Continue reading “Lyft, NuTonomy Team Up on Self-Driving Cars as Alliances Proliferate”
Cardigan, Younkle’s Latest Startup, Seeks to Digitize Business Cards
First, Matt Younkle helped customers digitize their music collections. Now, the serial entrepreneur is working on technology to digitize the age-old ritual of swapping business cards with new acquaintances. Madison, WI-based Cardigan has developed software allowing people to exchange contact information using their smartphones. The company’s mobile app became available on the App Store and … Continue reading “Cardigan, Younkle’s Latest Startup, Seeks to Digitize Business Cards”
Austin’s Digital Pharmacist Receives $6.5M for Healthcare Software
[Updated 6/6/17 12:48 pm. See below.] Austin—Digital Pharmacist has raised $6.5 million in a Series B round of funding. [More details on the company and comment from the CEO added.]The financing was led by Activate Venture Partners in New York and Austin, TX-based LiveOak Venture Partners and brings the total funds raised by the company to … Continue reading “Austin’s Digital Pharmacist Receives $6.5M for Healthcare Software”
Citing Losses, Fare Quits Austin as Uber, Lyft Resume Service
Austin—The return of Uber and Lyft to Austin has claimed its first casualty. Fare began operating last summer, shortly after the ride-hailing giants quit the Texas capital following voters’ approval of stringent rules that the companies were against. Late on Monday, Fare announced in an e-mail to customers that “we are unable to endure the … Continue reading “Citing Losses, Fare Quits Austin as Uber, Lyft Resume Service”
Why Pay Retail? Griddy Says It Offers Wholesale Electricity Prices
Houston—Griddy wants to bring the Costco model to retail energy: Pay a membership fee; get wholesale prices for electricity. “Griddy, through the mobile app membership, connects the home right to the wholesale price,” says Gregory Craig, Griddy’s CEO. “There’s no margin, no surprises, no hidden markups.” Craig claims that Griddy can provide retail power at … Continue reading “Why Pay Retail? Griddy Says It Offers Wholesale Electricity Prices”
Cloud Security Company Netskope Raises $100M From Old and New VCs
Venture capital firms are cash-rich, but they’ve been carefully meting out their funds since last summer. Cybersecurity companies, however, have a better chance to build up their troves of capital due to the drumbeat of cyberattack news that’s boosting business demand for their services. Netskope, a security company that specializes in protecting data in Web-based … Continue reading “Cloud Security Company Netskope Raises $100M From Old and New VCs”
Tulip Downloads $13M Round, Led by NEA, for Manufacturing Apps
Robots and other automation technologies are a growing presence on factory floors, but there are still opportunities to equip human workers with new tools to help them perform better. That’s part of the pitch from Tulip, a startup with roots at MIT, which today announced it received a $13 million investment to help it sell … Continue reading “Tulip Downloads $13M Round, Led by NEA, for Manufacturing Apps”
BridgeCare Finance Aims to Ease Burden of Paying for Child Care
Quality child care—an essential foundation for children, with a lasting benefit—can cost as much as or more than college tuition, about $17,700 a year in Washington state, on average. But the expense also comes at a time of life when many parents are still relatively early in their careers, stretching their budgets, and often forcing … Continue reading “BridgeCare Finance Aims to Ease Burden of Paying for Child Care”
Facing Cash Crunch, Novan Slashes Staff and Shuffles Executive Team
Novan is laying off 20 percent of its workforce, the company announced today, as it retrenches following the late-stage clinical trial failure of its experimental acne drug earlier this year. The skin drugs developer says it is still committed to its acne drug SB204. But Durham, NC-based Novan (NASDAQ: [[ticker:NOVN]]) adds that layoffs throughout the … Continue reading “Facing Cash Crunch, Novan Slashes Staff and Shuffles Executive Team”
Barracuda Networks Plans $2.3 Million Expansion and Hiring Spree
Barracuda Networks, the publicly traded cybersecurity giant, is growing—and has chosen once more to expand in Ann Arbor, MI. Barracuda (NYSE: [[ticker:CUDA]]), which was founded in Ann Arbor in 2003 but moved its headquarters to Silicon Valley in 2007, plans to invest $2.3 million in its downtown Ann Arbor office and add up to 115 … Continue reading “Barracuda Networks Plans $2.3 Million Expansion and Hiring Spree”
Of Catfish & Fickle Lovers: Aste CEO Talks Online Dating’s Downsides
There are millions of fish in the sea, and dating apps have made it easier to quickly find and connect with a lot more of those would-be catches. But the ease of creating an online dating profile—and the lack of oversight by the companies running such services—means that users can, and often do, misrepresent themselves. … Continue reading “Of Catfish & Fickle Lovers: Aste CEO Talks Online Dating’s Downsides”
Five Questions For … Dallas Entrepreneur Center CEO Trey Bowles
Dallas—Ask around Dallas who the city’s entrepreneurship ambassador is, and it’s likely that Trey Bowles’ name will quickly pop up. Bowles, who founded the Dallas Entrepreneur Center in 2013, is a high-profile supporter of the various accelerators, programs, and other efforts that have cropped up in North Texas to support innovation. In addition to running … Continue reading “Five Questions For … Dallas Entrepreneur Center CEO Trey Bowles”
Precision Steps: Can Loxo Drug Help Broaden Use of Cancer DNA Tests?
When the FDA last week approved Merck’s cancer drug pembrolizuamb (Keytruda) for tumors with a specific genetic signature, regardless of what body part they originated in, it was a watershed moment for oncology and a victory for the concept of precision medicine. But Merck isn’t alone; others are following suit with similar plans, and their … Continue reading “Precision Steps: Can Loxo Drug Help Broaden Use of Cancer DNA Tests?”
Endocyte Cuts Workforce by 40 Percent After Clinical Trial Falters
Endocyte is halting a clinical trial for one of its cancer drugs and narrowing the focus of another following a review of the two early-stage drug programs, the company announced Friday. The changes are sparking a corporate restructuring that will shift the West Lafayette, IN-based company’s focus to compounds in its drug pipeline that have … Continue reading “Endocyte Cuts Workforce by 40 Percent After Clinical Trial Falters”