Cybersecurity company Proofpoint, which helped slow the sweeping global ransomware attack WannaCry after it emerged Friday, has now discovered a much more insidious, profitable, and potentially widespread cyberattack called Adylkuzz. Adylkuzz doesn’t demand, as WannaCry does, that victims pay a ransom to retrieve their data. Adylkuzz makes no announcement when it quietly invades target computers. … Continue reading “Proofpoint Uncovers Second Cyberattack That Uses Stolen NSA Tools”
Category: National
4 Ways MIT Advanced Campus Entrepreneurship This School Year
[Editor’s note: This is part of a series of stories examining entrepreneurship on MIT’s campus and beyond.] MIT has been a prolific generator of entrepreneurs for decades. But in recent years, the Institute has ramped up campus resources for would-be company builders, thanks in part to a more supportive attitude from administrators. Xconomy chronicled those efforts and … Continue reading “4 Ways MIT Advanced Campus Entrepreneurship This School Year”
Partnership on AI Adds Corporate, NGO Members, Charts Initial Course
Artificial intelligence is a booming business in 2017, but one that also comes with significant baggage in the form of public misunderstanding, potential job losses, and fear. Last fall, A.I. competitors Amazon, Microsoft, Facebook, IBM, and Google banded together to form the Partnership on AI to Benefit People and Society, an industry-led attempt to get … Continue reading “Partnership on AI Adds Corporate, NGO Members, Charts Initial Course”
Understory’s Weather Data Tracking Network Is Now Active in 6 Cities
Understory, a weather technology startup based in Madison, WI, has expanded its geographic footprint and named a key customer. Understory builds weather stations to measure things like wind, temperature, humidity, rain, and hail. It sells weather data to businesses such as insurance company Pacific Specialty—a customer Understory just revealed—and provides data free to consumers. With … Continue reading “Understory’s Weather Data Tracking Network Is Now Active in 6 Cities”
Automotive Infosec Startup Karamba Snags $12M for Hack-Blocking Tech
There are conflicting opinions, even within Xconomy’s newsroom, about whether autonomous vehicles will be the game-changing technology the automotive industry hopes for. Yet, connected-car cybersecurity startup Karamba is moving full steam ahead—and its investors just doubled down with a new round of funding. Today, Karamba, which is based in Ann Arbor, MI, and Hod Hasharon, … Continue reading “Automotive Infosec Startup Karamba Snags $12M for Hack-Blocking Tech”
Fake Photo Blocker: Truepic Introduces App to Verify Online Images
Craig T. Stack said the idea for Truepic came to him from a multitude of online sources. There’s the matchmaking service founded by his wife Greta, who insists on meeting personally with clients because the photos submitted with some online applications just don’t match—or the image seems decades out of date. There are tales about … Continue reading “Fake Photo Blocker: Truepic Introduces App to Verify Online Images”
Austin’s MAP Health Teams Up With Watson For Better Data Analytics
Austin—MAP Health Management, an Austin health IT and telehealth company, is partnering with IBM Watson to use analytics to better treat patients with substance abuse problems. The partnership is designed to fill a gap in long-term care for recovering addicts. The companies will use data analytics to understand which patients are at greatest risk of … Continue reading “Austin’s MAP Health Teams Up With Watson For Better Data Analytics”
UT Health San Antonio Lands $9.1M Grant to Study Drug Resistance
San Antonio — A group of scientists at the University of Texas Health Science Center at San Antonio is starting research projects funded by the National Cancer Institute that use data collection and computational analysis to study why breast and prostate cancers can progress and why they resist anti-hormone therapies. The goal of the 5-year, … Continue reading “UT Health San Antonio Lands $9.1M Grant to Study Drug Resistance”
LevelUp Bags $50M From JPMorgan Chase & Others For Mobile Payments
LevelUp’s story is one of twists and turns and ups and downs. Right now, it looks like the company is on an upswing. Today the Boston-based mobile payments firm announced a $50 million funding round, which includes $37 million in equity funding and $13 million in debt financing, according to an e-mailed statement attributed to … Continue reading “LevelUp Bags $50M From JPMorgan Chase & Others For Mobile Payments”
Synlogic and Its Modified Bacteria Take Over Dying Company, Go Public
Synlogic, which is developing modified bacteria to use as medicine, has gone public in an unconventional way. Instead of hiring Wall Street bankers to shop its shares to new investors, as most companies do for an initial public offering, Cambridge, MA-based Synlogic has merged with the shell of a former biotech company. The so-called reverse … Continue reading “Synlogic and Its Modified Bacteria Take Over Dying Company, Go Public”
Exact Sciences CEO Defends Company Against Short-Seller’s Criticism
Citron Research published a report critical of Exact Sciences and its flagship screening test for colorectal cancer Monday, prompting a testy exchange on television later in the day between Exact CEO and chairman Kevin Conroy and Andrew Left, founder of Citron and a well-known short-seller. In the 13-page report, Left writes that the rate at … Continue reading “Exact Sciences CEO Defends Company Against Short-Seller’s Criticism”
5 Takeaways From the WannaCry Ransomware Attack
This may be the incident that finally pushes ransomware into the mainstream—and also forces both organizations and malicious hackers to adapt their approaches when it comes to this type of attack. The “WannaCry” virus, which first hit companies and healthcare services on Friday, has infected some 300,000 computer systems in 150-odd countries. By exploiting a … Continue reading “5 Takeaways From the WannaCry Ransomware Attack”
Brett Giroir, Ex-CEO of A&M Health Science Center, on Tap for HHS Post
Houston—Another Texan, and Aggie, could be joining President Trump’s administration. Brett Giroir, the former CEO of the Texas A&M University Health Science Center and current president and CEO of Houston biotech ViraCyte, could become assistant secretary for health for the US Department of Health and Human Services. The White House announced last month the intent … Continue reading “Brett Giroir, Ex-CEO of A&M Health Science Center, on Tap for HHS Post”
With Latest Deal, Biogen Bets $120M on Remedy Pharma Stroke Drug
Biogen has acquired an experimental drug for a type of deadly stroke, adding to the belief that the company, under new CEO Michel Vounatsos, will be more aggressive in pursuing deals to stock its pipeline. Biogen (NASDAQ: [[ticker:BIIB]]) is buying glyburide (CIRARA) from New York-based Remedy Pharmaceuticals for $120 million in cash plus potential future … Continue reading “With Latest Deal, Biogen Bets $120M on Remedy Pharma Stroke Drug”
WiseWear, Maker of Iris Apfel Tech Jewelry, Still Testing Med Device
San Antonio—WiseWear has attracted plenty of international attention for its effort to sell a chic wearable device. Vogue, Slate, and InStyle, among other publications, wrote about the company’s Internet-connected jewelry in 2016 after WiseWear began working with a team of prominent designers, including documentary subject Iris Apfel, to bring a fashionable aesthetic to the tech … Continue reading “WiseWear, Maker of Iris Apfel Tech Jewelry, Still Testing Med Device”
Ionis Touts Phase 3 Win, But Safety Worries Cloud Nerve Drug Study
Two RNA-based drugs for the same disease, a rare, crippling nerve condition called familial amyloid polyneuropathy (FAP) with no available treatments in the U.S., could soon be under an FDA review at the same time. The first of those treatments, from Carlsbad, CA, Ionis Pharmaceuticals, is on its way there—but are the data are good … Continue reading “Ionis Touts Phase 3 Win, But Safety Worries Cloud Nerve Drug Study”
PrairieChar’s Manure-Processing Tech Takes Prize at Agtech Showcase
[Updated 5/18/17, 4:01 pm. See below.] Manure is an inescapable part of farming, and it can be an expensive and messy one at that. Large animal farms produce so much waste that it must be stored in tall piles or deep lagoons. If storms spill that waste or it somehow seeps into the groundwater, farmers … Continue reading “PrairieChar’s Manure-Processing Tech Takes Prize at Agtech Showcase”
Scientist.com Raises $24M for “Pharma Markets” that Outsource R&D
San Diego’s Scientist.com set out in 2006 to disrupt part of the pharmaceutical business by providing an Amazon-like approach to the business of hiring contract research organizations (CROs). The company, which operates a network of online markets for outsourcing biomedical research services and supplies, has raised $24 million in a new round of venture funding. … Continue reading “Scientist.com Raises $24M for “Pharma Markets” that Outsource R&D”
SRI’s Michigan Office Will Help Develop New VEE Vaccine
SRI International, the Menlo Park, CA-based nonprofit contract research giant, is counting on its Michigan office to play a crucial role in the development of a new vaccine. SRI has been awarded two contracts worth $4.7 million by the U.S. Army’s Joint Vaccine Acquisition Program to test and manufacture a potential new vaccine against Venezuelan equine … Continue reading “SRI’s Michigan Office Will Help Develop New VEE Vaccine”
Bio Leaders Mourn Passing of Genzyme Exec, Orphan Drug Innovator Termeer
Henri Termeer, a biotechnology pioneer and the longtime CEO of Genzyme, has passed away at the age of 71. According to the Boston Globe, Termeer collapsed in his home in Marblehead, MA, on Friday night. Termeer (pictured) was an important figure in the development of biotech not just in the Boston community, but worldwide as … Continue reading “Bio Leaders Mourn Passing of Genzyme Exec, Orphan Drug Innovator Termeer”
Week in Review: Microsoft’s Introspective CEO on Trust in Tech
There was a lot of interesting tech news to catch up on in Seattle this week, though it was easy to miss it amid the roar and rumble of astonishing political, nuclear waste, and seismic* developments near and far. Read on for highlights from Microsoft’s developer conference; a new Echo device from Amazon, and its … Continue reading “Week in Review: Microsoft’s Introspective CEO on Trust in Tech”
Eli Lilly Migraine Drug Hits Study Goals, Paves Way for FDA Filing
An Eli Lilly drug developed to stop migraine headaches before they can start hit its main goals in a late-stage clinical trial, the company said Friday. With those results now in hand, the Indianapolis-based drugmaker plans to file for FDA approval of the drug later this year. Eli Lilly (NYSE: [[ticker:LLY]]) tested its drug galcanezumab … Continue reading “Eli Lilly Migraine Drug Hits Study Goals, Paves Way for FDA Filing”
Amid Comey Furor, Companies React to Trump’s Cybersecurity Order
On a day dominated by news about President Trump’s firing of FBI director James Comey, and its impact on the ongoing investigation of Russian hacking of the 2016 presidential election, two significant developments for the cybersecurity industry also emerged Thursday. First, President Trump signed an executive order laying out plans to shore up data security … Continue reading “Amid Comey Furor, Companies React to Trump’s Cybersecurity Order”
Five Questions For … Station Houston CEO John “JR” Reale
Houston— For John Reale, the CEO of startup co-working space Station Houston, family ties bind strongly. A little more than a week ago, his first child, a daughter named Juliana, was born. “I was telling her a story about my grandfather,” says Reale, who is known as JR. “It was a very emotional moment, to … Continue reading “Five Questions For … Station Houston CEO John “JR” Reale”
Bio Roundup: Big Apple Mo’, Checkpoint Yes and No, CAR-T Death & More
“New York, New York, it’s a hell of a town. The Bronx is up, but we’re Brooklyn down.” For all you old-school Brooklyn swingers out there, we’ll take a short break from the madness in the nation’s capital and start our roundup in the greatest city in the world. You might disagree if you’ve got … Continue reading “Bio Roundup: Big Apple Mo’, Checkpoint Yes and No, CAR-T Death & More”
CyberArk Snaps Up Conjur for $42M to Secure Software Development
CyberArk Software said Thursday it has acquired Conjur for $42 million in cash, a tie-up that unites two cybersecurity firms with offices in the Boston area. CyberArk (NASDAQ: [[ticker:CYBR]]), which is based in Israel and has U.S. headquarters in Newton, MA, makes software to help banks and other businesses manage user privileges, sensitive data, and … Continue reading “CyberArk Snaps Up Conjur for $42M to Secure Software Development”
Shoulder Innovations Raises $1.5M to Grow its Patented Implant Tech
Shoulder Innovations, the Holland, MI-based medical device startup, this week announced a $1.5 million Series A round led by the Michigan Angel Fund, with participation from Start Garden, Invest Michigan, Novus Bioventures, Western Michigan University’s Biosciences Research Commercialization Center, and Genesis Innovation Group. The four-person company, which was founded in 2009, has developed a shoulder … Continue reading “Shoulder Innovations Raises $1.5M to Grow its Patented Implant Tech”
Merck Immunotherapy Drug Notches Another FDA Win in Lung Cancer
The FDA has approved use of a Merck drug in combination with chemotherapy as a first-line treatment for the most common type of lung cancer. The FDA approval for (NYSE: [[ticker:MRK]]) pembrozlizumab (Keytruda) to treat metastatic nonsquamous non-small cell lung cancer widens the use of the immunotherapy. Last year, the FDA approved it for lung … Continue reading “Merck Immunotherapy Drug Notches Another FDA Win in Lung Cancer”
AppDirect, Amazon, And The Role Of The Middleman
[Updated 5/11/17 10:21 am. See below.] Daniel Saks, co-founder of a fast-growing San Francisco tech company, says he admires Amazon for taking the friction out of “finding stuff and buying stuff.” Worn-out sheets? No need to drive to Bed Bath & Beyond, he says. Saks likes to think his company AppDirect does the same thing … Continue reading “AppDirect, Amazon, And The Role Of The Middleman”
Boston Tech Watch: TripAdvisor, Ogin, Staples, Gillette, Draft & More
Here are some of the latest headlines from the Boston-area tech sector: —Ogin, the Waltham, MA-based renewable energy company formerly known as FloDesign Wind Turbine, recently went into receivership and put its assets up for sale, the Boston Globe reported. Ogin had raised more than $150 million in venture funding. Read more about the company … Continue reading “Boston Tech Watch: TripAdvisor, Ogin, Staples, Gillette, Draft & More”
Dell and Circular Board Advise Women Entrepreneurs: Go Ask Alice
Houston—Dell and Circular Board want women founders to meet Alice. Alice is a software platform that uses artificial intelligence-related tools designed to connect female entrepreneurs with resources needed to develop their companies regardless of where they are based, what industry they are in, or what language they speak. “The genesis for Alice is that we … Continue reading “Dell and Circular Board Advise Women Entrepreneurs: Go Ask Alice”
Structural Launches with Software to Unleash Employee Productivity
Structural is on a mission to unlock workplace data to help optimize the way offices function. The employee-management software startup—based in Indianapolis and St. Paul, MN, and backed by High Alpha—has set out to apply analytics and other technologies to produce workforce insights that were previously hiding in the raw data of human-resources files. Until … Continue reading “Structural Launches with Software to Unleash Employee Productivity”
Google Picks Up Owlchemy Labs, Austin-Based VR Startup
Austin—Google has bought Owlchemy Labs, an Austin, TX, virtual reality startup best known for its “Job Simulator” game. Relja Marcovik, engineering director of virtual reality and augmented reality at Google, announced the news in a blog post Wednesday, saying Owlchemy “set a high bar for what engagement can be like in virtual worlds, and do … Continue reading “Google Picks Up Owlchemy Labs, Austin-Based VR Startup”
Stalled or Rising Momentum? New York Wrestles With Its Biotech Future
[Updated, 6:25 a.m. ET, see below] New York City and state governments have finally put big dollars behind local development of the life sciences industry. But lots of cash is no guarantee of success, as panelists kicking off the annual NewYorkBio conference made clear Tuesday. “The question is, where are we as an industry, and … Continue reading “Stalled or Rising Momentum? New York Wrestles With Its Biotech Future”
Amazon Devotes New Seattle Headquarters Space to Shelter Homeless
Amazon will create a permanent space to shelter homeless families in its growing downtown Seattle headquarters campus, the retail and technology giant announced Wednesday. The company is donating 47,000 square feet in a building set for construction this fall on Eighth Avenue to Mary’s Place, a shelter for homeless women, children, and families. There will … Continue reading “Amazon Devotes New Seattle Headquarters Space to Shelter Homeless”
Genentech Drug Fails to Beat Chemo in Treating Advanced Bladder Cancer
Genentech’s hopes to expand applications of a cancer immunotherapy treatment to more cancers were dealt a blow with the failure of that drug in a late-stage clinical trial. South San Francisco, CA-based Genentech, a division of Swiss pharmaceutical giant Roche, announced Wednesday that its drug atezolizumab (Tecentriq), failed a Phase 3 clinical trial testing the … Continue reading “Genentech Drug Fails to Beat Chemo in Treating Advanced Bladder Cancer”
Agro Bio, BrightStar, Stratatech, & More: This Week’s WI Watchlist
Stay current on news from Wisconsin’s innovation community, starting with these recent headlines: —Agro Biosciences, a Milwaukee-area company whose technology is aimed at identifying beneficial bacteria in order to improve agricultural products, said it was acquired by Church & Dwight (NYSE: [[ticker:CHD]]), the parent company of Arm & Hammer Animal Nutrition. According to a press … Continue reading “Agro Bio, BrightStar, Stratatech, & More: This Week’s WI Watchlist”
Harvard Startup Competition Yields Winners in Computing, Fintech, Health
The full range of student entrepreneurship at Harvard University was on display Tuesday. The sixth annual President’s Innovation Challenge awards drew several hundred people to the Harvard Innovation Lab to meet the 15 finalists of the yearlong competition. At stake was $310,000 in prize money. You might think if you’ve seen one student-startup contest, you’ve … Continue reading “Harvard Startup Competition Yields Winners in Computing, Fintech, Health”
Newest Texas Angel Network Hosts Statewide Summit in San Antonio
San Antonio—Six months after the launch of San Antonio’s first angel network, the city is playing host to a statewide summit on angel investing Friday to help members of the network gain insight from other angel investors across Texas. The San Antonio Angel Network was officially launched by a group of local entrepreneurs and investors … Continue reading “Newest Texas Angel Network Hosts Statewide Summit in San Antonio”
Why You’re Wiser with an Adviser
Long before Silicon Valley and tech accelerators, the Beatles knew a thing or two about finding the right startup adviser. Their 1965 hit said it all: “Help! I need somebody. Help! Not just anybody. Help! You know I need someone. He-el-elp…” Every founder, no matter how sharp or motivated, needs some help, and a great … Continue reading “Why You’re Wiser with an Adviser”
Austin Real Estate Tech Startup Opcity Snags $27M in Funding
Austin—An Austin real estate startup is using technology to become a better matchmaker between buyers and sellers of properties, and has raised $27 million to expand its market. Opcity received the investment in a Series A round led by Palo Alto, CA-based Icon Ventures, with participation from Georgian Partners in Toronto, and Austin’s LiveOak Venture … Continue reading “Austin Real Estate Tech Startup Opcity Snags $27M in Funding”
Last Chance to Snag a Ticket for What’s Hot in Boston Biotech
Registration is closing soon for Xconomy’s annual life sciences bash, “What’s Hot in Boston Biotech.” It’s all happening tomorrow, May 11, at Biogen’s headquarters in Cambridge. We’ll be digging into several biotech topics, including the industry’s role in battling the opioid epidemic, the impact of patient advocacy on drug development and regulation, the importance of … Continue reading “Last Chance to Snag a Ticket for What’s Hot in Boston Biotech”
Roundup: LLamasoft, TechHire Bootcamp, Application Deadlines Galore
Here’s a look at innovation news you may have missed from around Michigan: —LLamasoft, the Ann Arbor-based developer of supply chain software, announced today that TPG Capital has invested in the company. The specifics of the deal were not disclosed. LLamasoft marks TPG’s second foray into the supply-chain technology space, following its 2016 investment in Transporeon, a … Continue reading “Roundup: LLamasoft, TechHire Bootcamp, Application Deadlines Galore”
Akamai Invests in Wind Farm as Tech’s Renewable Energy Demand Grows
Akamai Technologies, a content delivery network and cloud computing services provider, has invested in a Texas wind farm as it attempts to fulfill a promise to use renewable energy to power half of its global network operations by 2020. Akamai (NASDAQ: [[ticker:AKAM]]) said it is making a 20-year investment in the planned Seymour Hills Wind … Continue reading “Akamai Invests in Wind Farm as Tech’s Renewable Energy Demand Grows”
Senate Vote Confirms Scott Gottlieb for FDA Commissioner
Scott Gottlieb will be the new FDA commissioner. The U.S. Senate voted 57 to 42 on Tuesday to confirm Gottlieb, a physician and venture capitalist, to lead the regulatory agency. He succeeds former FDA commissioner Robert Califf, who stepped down in January after President Donald Trump took office. Gottlieb is already familiar with the agency … Continue reading “Senate Vote Confirms Scott Gottlieb for FDA Commissioner”
Blackriver’s Planning and Tracking Tools Gain Traction with Cyclists
Want to go for a bike ride? If so, some of your next steps might be to determine the distance of your ride, where it will begin and end, and whether you want to invite anyone else to join. Blackriver, a Madison, WI-based startup, has joined the list of companies that develop technology allowing cyclists to … Continue reading “Blackriver’s Planning and Tracking Tools Gain Traction with Cyclists”
Startup Spotlight: Texas Innovations in Health IT, Big Data Analytics
The Texas innovation landscape is dotted with young tech companies. Here are a couple that have recently cropped up: Pilosa, software to enable real-time data analytics of really big data, based in Austin, TX. The problem: Data sets that are larger than 500 gigabytes are difficult to query. They typically have to be broken down … Continue reading “Startup Spotlight: Texas Innovations in Health IT, Big Data Analytics”
Edico Genome Raises $22M to Expand Data Processing and Web Services
San Diego’s Edico Genome, highlighted in Monday’s media debut of Dell Technologies Capital, said today it has raised $22 million in Series B financing led by the Dell investment arm. All existing investors, including Qualcomm Ventures, Axon Ventures, and biotech industry executive Greg Lucier, participated in the round. The new cash, which brings Edico’s total … Continue reading “Edico Genome Raises $22M to Expand Data Processing and Web Services”
Owl Labs Grabs $6M Led by Matrix, Teases Video Conferencing Device
Owl Labs, a Boston-based video conferencing startup that employs veterans of iRobot and HubSpot, announced today it has snagged a $6 million Series A funding round led by Matrix Partners. Founded in 2014, Owl Labs said it got seed funding from Playground Global Ventures and was the first company to work out of Playground’s Design Studio … Continue reading “Owl Labs Grabs $6M Led by Matrix, Teases Video Conferencing Device”
TX Roundup: New Funding, MD Anderson, Carolyn Rodz, 1PlanetSol, Dell
Let’s get caught up with the latest innovation news from Xconomy Texas. —An Austin social venture company, 1PlanetSol, is among a group of ventures competing in the US Department of Energy’s Solar in Your Community challenge, which aims to bring solar energy to underserved communities. 1PlanetSol is partnering with Austin Habitat for Humanity and the Texas … Continue reading “TX Roundup: New Funding, MD Anderson, Carolyn Rodz, 1PlanetSol, Dell”