Like so much of the life sciences world, Xconomy has its roots in Boston and Cambridge. When the annual Biotech Week Boston convenes this September, we’ll be there, too, with our Life Science Disruptors forum, but also something new: The inaugural Xconomy Awards, highlighting some of the most influential people, startups, and other organizations in … Continue reading “Nominations Open for the Inaugural Xconomy Awards”
Category: National
Bridj Runs Out of Gas After Deal With Car Company Falls Through
Bridj’s vision of transforming urban transportation is no more, after the Boston-based startup announced over the weekend that it’s shutting down. Bridj—which operated a transit service that used a private fleet of shuttle vans coordinated by mobile app—decided to wind down operations after a deal with an unnamed “major car company” fell through, CEO Matt … Continue reading “Bridj Runs Out of Gas After Deal With Car Company Falls Through”
Shire Sets Sights on Dry Eye Disease with Deal for Parion Drug
Shire is paying $20 million up front to acquire rights to a drug that Parion Sciences has developed as a potential treatment for dry eye disease. The deal calls for Shire (NASDAQ: [[ticker:SHPG]]) to take the lead on further work on P-321, a compound that Durham, NC-based Parion has tested in early-stage clinical trials. If … Continue reading “Shire Sets Sights on Dry Eye Disease with Deal for Parion Drug”
FDA Wants More Safety Info on Psych Drug, Intra-Cellular Shares Drop
Despite mixed data from clinical trials, Intra-Cellular Therapies plans to seek FDA approval for an experimental schizophrenia drug, its only therapy even close to market. But that plan got more difficult this morning as the company revealed the FDA has some questions about the drug’s safety, causing shares to slide to their lowest levels since … Continue reading “FDA Wants More Safety Info on Psych Drug, Intra-Cellular Shares Drop”
The State of Cybersecurity Insurance Today
Cyber incidents are considered the No. 1 emerging risk for enterprises long-term. No surprise, then, that cybersecurity insurance policy premiums are approaching $2.75 billion a year. Some experts believe this figure will grow to roughly $20 billion by 2025. For scores of insurance companies cashing in on the booming corporate cybersecurity insurance market, it’s a … Continue reading “The State of Cybersecurity Insurance Today”
Entrepreneurs, VCs, Bio Builders Talk Seizing Momentum in NY on May 31
It’s going to take more than just a government initiative for New York to forge an identity as a top commercial hub for life sciences. It’s going to take great ideas, entrepreneurs taking risks, developers making space their companies can grow in, and investors gambling on their success. Some of these things are already happening, … Continue reading “Entrepreneurs, VCs, Bio Builders Talk Seizing Momentum in NY on May 31”
Texas Roundup: Joshua Baer, UTD, Prytime, Next Coast, Spanning
Let’s get caught up with the latest innovation news from Xconomy Texas. —Renaissance Venture Capital, a fund-of-funds based in Ann Arbor, MI, announced it invested in Next Coast Ventures, a venture firm based in Austin. Renaissance puts money in out-of-state venture firms in order to help entice them to consider investing in Michigan-based startups. —For … Continue reading “Texas Roundup: Joshua Baer, UTD, Prytime, Next Coast, Spanning”
Epic Sciences Advances Diagnostic for Late-Stage Prostate Cancer
When San Diego’s Epic Sciences raised $30 million almost three years ago, CEO Murali Prahalad told me he saw a big opportunity to use the company’s technology as a diagnostic test to assess how well a cancer patient is responding to specific anti-cancer drug regimens. Epic said Friday it had raised an additional $40 million … Continue reading “Epic Sciences Advances Diagnostic for Late-Stage Prostate Cancer”
Renaissance VC Fund Backs New-to-Michigan Next Coast Ventures
Ann Arbor, MI-based Renaissance Venture Capital Fund announced this week that it has invested in Austin, TX-based Next Coast Ventures. The fund-of-funds, which puts money into out-of-state VC funds to help entice them to invest in Michigan startups, did not disclose the amount of the investment. Chris Rizik, CEO of Renaissance and Detroit/Ann Arbor Xconomist, … Continue reading “Renaissance VC Fund Backs New-to-Michigan Next Coast Ventures”
SmartUQ Scoops Up $1.9M for Simulation Analytics Software
SmartUQ, a Madison, WI-based software developer whose digital tools allow users to test the performance of physical products and the parts they’re made of, has raised more than $1.9 million from investors. Twenty-five investors participated in the equity financing round, according to an SEC filing. Peter Qian, who founded SmartUQ in 2014 and serves as … Continue reading “SmartUQ Scoops Up $1.9M for Simulation Analytics Software”
Zymeworks Bags $58M in IPO to Bankroll Cancer Drug Trials
Zymeworks is the latest biotech to go public, raising $58.5 million through a stock offering that the company says will finance early stage clinical trials for its two lead cancer drug candidates. Vancouver, BC-based Zymeworks sold 4.5 million shares at $13 apiece, coming in at the low end of the $13 to $16 per range … Continue reading “Zymeworks Bags $58M in IPO to Bankroll Cancer Drug Trials”
Radius Nabs FDA OK For New Bone Drug With Rival Amgen Close Behind
At least one new treatment is on the way for osteoperosis patients, and possibly two before the end of the summer. Radius Health on Friday won FDA approval of an osteoperosis drug that, like a rival treatment from Eli Lilly, can help build up the strength of bones rather than just prevent them from becoming … Continue reading “Radius Nabs FDA OK For New Bone Drug With Rival Amgen Close Behind”
Five Questions For … Joshua Baer, Founder of Austin’s Capital Factory
Austin—Joshua Baer has become one of Austin’s most high-profile evangelists. Baer founded Capital Factory in 2009 as a combination startup accelerator program and co-working space in the city’s downtown, and it quickly became a key epicenter of innovation in the city. (Capital Factory hosted nearly 1,000 startup-related events this past year.) During the South By … Continue reading “Five Questions For … Joshua Baer, Founder of Austin’s Capital Factory”
After Sarepta’s Surprising FDA Nod, CEO Kaye Plans to Resign
Ed Kaye was the chief medical officer of Sarepta Therapeutics for nearly six years before being thrust into the spotlight. In April 2015, CEO Chris Garabedian resigned, and Kaye took up the job of trying to notch the first-ever approval for a Duchenne muscular dystrophy drug, eteplirsen (Exondys 51)—with the slimmest of data, no less. … Continue reading “After Sarepta’s Surprising FDA Nod, CEO Kaye Plans to Resign”
Veering Off Topic With Adelphic Co-founder Jennifer Lum
Next up in my ongoing series of offbeat chats with local tech execs and investors is Jennifer Lum. Lum is a leader in Boston’s mobile advertising sector, having co-founded or held a key position in three such startups—m-Qube (acquired by VeriSign), Quattro Wireless (bought by Apple), and Adelphic (recently purchased by Time subsidiary Viant). She … Continue reading “Veering Off Topic With Adelphic Co-founder Jennifer Lum”
Bio Roundup: Trumpcare Flails, Spinraza Sales, Batten OK & More
To judge the first 100 days of a new administration is, as many pundits have pointed out, an odd vestige of history, more convenient than significant. Which is why we’ll start this week’s roundup with our 99-day evaluation of the Trump administration—at least when it comes to healthcare and the life sciences. In healthcare, nothing … Continue reading “Bio Roundup: Trumpcare Flails, Spinraza Sales, Batten OK & More”
Seattle Week in Review: Amazon, Indy Bookstores, and Serendipity
Amazon, the behemoth of digital and physical commerce, started out as an independent bookseller, albeit an online one, based in a home in Bellevue, WA. Now that it’s doing everything else—this week it deployed artificial intelligence to judge your fashion choices—how’s that online bookstore business shaping up? It’s something to contemplate on Independent Bookstore Day, … Continue reading “Seattle Week in Review: Amazon, Indy Bookstores, and Serendipity”
TCC Plans to Expand Offerings After Acquiring Vertex, Triple Impact
TCC Software Solutions, an Indianapolis-based IT cloud-hosting company, announced this week that it has acquired two businesses: Vertex Solutions Group and Triple Impact. Financial terms of the deal were not disclosed. Jim Pangallo, principal partner at TCC, says the two companies came to TCC’s attention through Harborside Advisors, a Florida firm that arranged the acquisition. … Continue reading “TCC Plans to Expand Offerings After Acquiring Vertex, Triple Impact”
Hacking Back: Agari Turns the Tables on Next-Gen E-mail Scammers
What would happen if a total stranger with a poor command of English asked the payroll manager of an American corporation to send him the Internal Revenue Service Form W-2’s for the company’s entire staff? Answer: Some payroll managers would obligingly send the stranger a PDF of all the forms, containing the names, Social Security … Continue reading “Hacking Back: Agari Turns the Tables on Next-Gen E-mail Scammers”
FDA Approves BioMarin Drug, A First for Rare Genetic Batten Disease
BioMarin Pharmaceuticals has won the first FDA approval for a treatment for Batten disease, a rare group of disorders that rob children of vision, cognitive abilities, and motor skills, and usually prove deadly before adulthood. The San Rafael, CA-based biotech’s cerliponase alfa (Brineura) must be administered directly into the brain through a stent. At $27,000 … Continue reading “FDA Approves BioMarin Drug, A First for Rare Genetic Batten Disease”
A New Mindset Could Overcome ‘Bogus Academic Person Business Model’
San Antonio — Academic research centers are perennially seeking new ways to get more work commercialized, from offices that are tasked with spotting marketable science to workshops meant to help scientists learn to think like entrepreneurs. But the problem may be that scientists at universities merely have different incentives than researchers in the biotech industry, … Continue reading “A New Mindset Could Overcome ‘Bogus Academic Person Business Model’”
Blackstone LaunchPad Adds to UTD’s Entrepreneurship Portfolio
Richardson, TX—The University of Texas at Dallas today formally kicks off its Blackstone LaunchPad program, one of three cross-disciplinary entrepreneurship centers opening at universities across the state. The program, funded by a $1 million donation from the charitable arm of the New York-based private equity firm, also received a matching $1 million grant from UTD. … Continue reading “Blackstone LaunchPad Adds to UTD’s Entrepreneurship Portfolio”
Gottlieb’s FDA Nomination Gets Committee Nod, Advances to Senate
Scott Gottlieb’s nomination to the top post of the FDA is on its way to the full U.S. Senate. The Senate Health, Education, Labor & Pensions Committee voted 14-9 on Thursday to approve Gottlieb’s nomination to become FDA commissioner. All of the Republicans on the committee voted for Gottlieb, along with two Democrats, Sen. Sheldon … Continue reading “Gottlieb’s FDA Nomination Gets Committee Nod, Advances to Senate”
Exact Sciences Shares Rise After Company Beats Quarterly Forecasts
[Updated 4/27/17 5:29 pm. See below.] A year ago, Exact Sciences’s stock was in a slump, languishing below $10 per share. But since then, its stock price has climbed back to more than $20 per share. That rally continued Thursday, after the medical diagnostics company released first quarter financial results that handily beat analyst expectations. … Continue reading “Exact Sciences Shares Rise After Company Beats Quarterly Forecasts”
Duchenne, SMA, and the Rise of Patient Power at “What’s Hot” on May 11
Two of the most noteworthy drugs to win FDA approval over the past year, eteplirsen (Exondys 51) and nusinersen (Spinraza), have something important in common: Patient groups have played a critical role in both of their stories. Eteplirsen, Sarepta Therapeutics’ (NASDAQ: [[ticker:SRPT]]) Duchenne muscular dystrophy drug, was a test case for the increasing power of … Continue reading “Duchenne, SMA, and the Rise of Patient Power at “What’s Hot” on May 11”
Allen Pledges $30M to House Homeless Families Amid Funding Debate
Paul Allen has pledged $30 million to help house homeless families in Seattle, as the city grapples with an ongoing crisis and debates how to pay for it. With an additional $5 million in capital from city coffers, the funding from the Paul G. Allen Family Foundation would enable nonprofit housing developer Mercy Housing Northwest … Continue reading “Allen Pledges $30M to House Homeless Families Amid Funding Debate”
Michigan State’s Conquer Accelerator Announces 2017 Participants
Earlier this month, the Michigan State University-backed Conquer accelerator program announced the five startups that will spend the summer pushing their products and technologies to market. Starting in June, Conquer participants will begin the 10-week incubation program. What makes Conquer different from many other university accelerators is its accessibility. Even though the program is administered … Continue reading “Michigan State’s Conquer Accelerator Announces 2017 Participants”
Will New Data Open “Bottlenecks” For Biogen’s Pricey Spine Drug?
Four months after its drug nusinersen (Spinraza) became the first ever approved to treat the rare genetic disease spinal muscular atrophy, Biogen (NASDAQ: [[ticker:BIIB]]) released study results Tuesday that could help more patients gain access to the expensive drug. The data, from a 126-patient study called CHERISH, provide the most detailed evidence to date that … Continue reading “Will New Data Open “Bottlenecks” For Biogen’s Pricey Spine Drug?”
Gates Foundation Leads $45.5M Round for Gerngross’s Biotech Arsanis
[Corrected 4/27/17, 11:57 p.m. See Below.] Arsanis, a Waltham, MA-based biotech co-founded by scientist and entrepreneur Tillman Gerngross to develop treatments for bacterial and viral infections, has raised a $45.5 million investment led by the Bill & Melinda Gates Foundation to finance a mid-stage clinical trial for its lead drug program. The Series D round of … Continue reading “Gates Foundation Leads $45.5M Round for Gerngross’s Biotech Arsanis”
Boston Tech Watch: Uber Driver Appeals, NFL Wearables, Drone IPO
[Updated 4/26/17, 2:58 pm. See below.] This week in Boston tech, we’re tracking appeals by Uber and Lyft drivers who failed state background checks; a deal between a local wearable device startup and the National Football League Players Association; an Australian IPO by a Massachusetts underwater drone company; and much more. Read on for details. … Continue reading “Boston Tech Watch: Uber Driver Appeals, NFL Wearables, Drone IPO”
Barclays Techstars’ Jon Zanoff on Startups, Banks, and Fintech’s Future
Jon Zanoff is ready for a new nickname. Dubbed “The Mayor of Fintech,” Zanoff, the newly appointed managing director of the Barclays Techstars accelerator in New York, has certainly been entrenched in the financial technology industry long enough to deserve the title. For the past five years, he’s presided over Empire Startups, a New York-based … Continue reading “Barclays Techstars’ Jon Zanoff on Startups, Banks, and Fintech’s Future”
Joining G20, Troiano Is Latest Boston Tech Exec to Move Into VC
Mike Troiano doesn’t sit still. In fact, it’s hard to believe he has been chief marketing officer at enterprise IT firm Actifio for five years. But now he has taken a full-time position as a partner at G20 Ventures, the Boston venture capital firm founded by Bob Hower and Bill Wiberg. Troiano has some experience … Continue reading “Joining G20, Troiano Is Latest Boston Tech Exec to Move Into VC”
Titan Spine, Aurora, CMFG, & More: This Week’s Wisconsin Watchlist
Catch up on news from Wisconsin’s innovation community, starting with these recent headlines: —Mequon-based Titan Spine, which makes titanium cages of various shapes and sizes designed for use in spinal surgeries, said it achieved “record sales” during the first three months of 2017. In a press release highlighting the company’s recent progress, Titan Spine said that … Continue reading “Titan Spine, Aurora, CMFG, & More: This Week’s Wisconsin Watchlist”
The Medicines Co., Alnylam Take Plunge, Outline Big Test For Heart Drug
The Medicines Co. and Alnylam Pharmaceuticals have come to a deal with the FDA on the big Phase 3 test for their RNA-based cholesterol-lowering drug, inclisiran, a potentially longer-lasting alternative to a new group of drugs called PCSK9 inhibitors. Medicines Co. (NASDAQ: [[ticker:MDCO]]) and partner Alnylam (NASDAQ: [[ticker:ALNY]]) will collectively enroll 3,000 patients with atherosclerotic … Continue reading “The Medicines Co., Alnylam Take Plunge, Outline Big Test For Heart Drug”
After Steady Growth, Greenlight.guru Plans New Office, More Hires
The Indianapolis-based startup Greenlight.guru, maker of quality management software for organizations in the medical device industry, plans to invest $651,022 in a new, 7,200-square-foot office at Union 525, a tech hub in the city’s downtown. The new office is part of an expansion plan now underway, and the company expects to create up to 120 … Continue reading “After Steady Growth, Greenlight.guru Plans New Office, More Hires”
Forge Therapeutics Raises $15M to Take on Drug-Resistant Superbugs
One reason that drug-resistant “superbugs” are a growing healthcare problem is the hardiness of gram-negative bacteria, a type of bacteria whose characteristics render many antibiotics ineffective. Forge Therapeutics says it has found a way to target an enzyme found only in these bacteria, and potentially take them out. Now, the biotech firm is preparing to … Continue reading “Forge Therapeutics Raises $15M to Take on Drug-Resistant Superbugs”
Cellular Dynamics Adds to Stem Cell Work With Harvard Institute
Cellular Dynamics International, a Madison, WI-based manufacturer of human cells, recently signed a collaboration agreement with the Harvard Stem Cell Institute that’s aimed at making greater quantities of stem cells available to researchers at the institute and its affiliates. CDI concentrates in part on developing and commercializing therapies using induced pluripotent stem (iPS) cells, which can … Continue reading “Cellular Dynamics Adds to Stem Cell Work With Harvard Institute”
While You Were Sleeping: ResMed Builds an Empire in the Cloud
Over the past 28 years or so, ResMed (NYSE: [[ticker:RMD]]) has built an empire around its respiratory devices for managing sleep apnea and other forms of “sleep-disordered breathing.” In the fiscal year that ended last June, the San Diego maker of respiratory machines for maintaining continuous positive airway pressure (CPAP) generated over $1.8 billion in … Continue reading “While You Were Sleeping: ResMed Builds an Empire in the Cloud”
Desktop Metal, Backed By $97M, Unveils Its First Metal 3D Printers
After a couple years of work, Desktop Metal took the wraps off its metal 3D printers this week. The startup has drawn $97 million from high-profile investors who are betting the technology could transform the way metal parts get developed and manufactured. So, what’s the big deal? Standard metal-making 3D printers are bulky, cost hundreds … Continue reading “Desktop Metal, Backed By $97M, Unveils Its First Metal 3D Printers”
Virent’s New CEO Talks Tesoro Purchase, Company Culture, and More
Last week, Virent, a Madison, WI-based developer of biofuels that are designed to replace crude oil, announced it had hired Stacey Orlandi to serve as the company’s next chief executive. Virent says its base technology can help produce cleaner and more sustainable versions of liquid transportation fuels, including gasoline, diesel, and jet fuel. The 40-person … Continue reading “Virent’s New CEO Talks Tesoro Purchase, Company Culture, and More”
OncoMed Slashes Workforce After Two Clinical Trial Failures in Cancer
After seeing its two most advanced cancer therapies fail in clinical trials this month, OncoMed Pharmaceuticals is slashing its workforce by half and focusing on compounds in earlier stages of development, the company announced Monday. The layoffs will leave Redwood City, CA-based OncoMed with 64 full-time employees. The company says that the cuts will save … Continue reading “OncoMed Slashes Workforce After Two Clinical Trial Failures in Cancer”
Prytime Signs Military Distribution Deal with Combat Medical Systems
San Antonio — Prytime Medical Devices has signed a deal that would have Harrisburg, NC-based Combat Medical Systems distribute and sell the company’s medical device, a catheter that can be used to control hemorrhaging, to the U.S. military and federal government. Prytime, which is headquartered near San Antonio in Boerne, TX, sells a catheter that can … Continue reading “Prytime Signs Military Distribution Deal with Combat Medical Systems”
HistoSonics Aims To Move Forward After Raising $8.5M, Naming New CEO
Changes are afoot at HistoSonics, the University of Michigan medical device spinout based in Ann Arbor, MI. The company has a new CEO, as well as a new focus on the treatment of solid-tumor cancers. Last month, HistoSonics also closed on a $8.2 million Series B round led by Wisconsin’s Venture Investors, with contributions from … Continue reading “HistoSonics Aims To Move Forward After Raising $8.5M, Naming New CEO”
Xconomy Bookclub: Big Data Meets Fine Dining in CEO’s “Culinary Tour”
Software, it has been said, is eating the world. Now the food world is looking to use technology and analytics as a main ingredient in running more profitable organizations. So says Damian Mogavero, who along with Joseph D’Agnese, wrote The Underground Culinary Tour: How the New Metrics of Today’s Top Restaurants Are Transforming How America … Continue reading “Xconomy Bookclub: Big Data Meets Fine Dining in CEO’s “Culinary Tour””
Amid Automation Debate, A.I. Backers Tout Job Creation Potential
Rapid advancements in robotics and artificial intelligence technologies over the past decade have stoked concern that machines could eventually take over most, if not virtually all, human jobs. But there is another, more optimistic view of how the advance of A.I. and automation will impact the economy—one articulated by people like Mark Gorenberg (pictured right). … Continue reading “Amid Automation Debate, A.I. Backers Tout Job Creation Potential”
Becton Dickinson Aims Beyond Diabetes with $24B Bard Deal
In a medical technology merger with implications for the healthcare sector in the United States and beyond, Becton Dickinson is acquiring C.R. Bard for $24 billion to tap into the growing markets for products used in treating vascular conditions and cancer. Under the deal announced Sunday, Franklin Lakes, NJ-based Becton Dickinson (NYSE: [[ticker:BD]]) will pay … Continue reading “Becton Dickinson Aims Beyond Diabetes with $24B Bard Deal”
Pursuing Larger Rivals, NGM Bio Tries To Make Mark On Fatty Livers
[Corrected 4/25/17, 12:30 p.m. See below.] About 7,000 liver transplants occur in the U.S. each year. A condition that few people can pronounce, and no one has a treatment for, has become a main reason for those transplants. That’s why several rich, powerful drug companies are in the final expensive stage of testing new drugs … Continue reading “Pursuing Larger Rivals, NGM Bio Tries To Make Mark On Fatty Livers”
ImageMoverMD Introduces Tools to Help Hospitals Load Medical Images
After patients undergo magnetic resonance imaging procedures, they are sometimes referred to a specialist at a different hospital, and given CDs with files showing the results of their scans. But often times at the follow-up appointment, a physician who is handed a disc is left thinking, “What do I do with this?” says Gary Wendt. … Continue reading “ImageMoverMD Introduces Tools to Help Hospitals Load Medical Images”
Seattle Week in Review: March for Science, MSFT Acquisition, CoMotion
This week, we’re looking forward to Saturday’s March for Science and back at Microsoft’s acquisition of Charles Simonyi’s Intentional Software; former Microsoft CEO Steve Ballmer’s new effort to inject facts into debate about government; potential changes to the high-skilled visa program and a new startup aimed at helping immigrants; a strong showing for the University … Continue reading “Seattle Week in Review: March for Science, MSFT Acquisition, CoMotion”
As Doctors Adopt Virtual Tools, Human Relationships Grow More Vital
Voice-controlled virtual assistants, virtual reality, and artificial intelligence technologies could all reshape the healthcare industry in the coming years, but forming strong relationships between patients and doctors will be more important than ever. That was a key takeaway from a panel discussion Thursday night at General Assembly’s space in downtown Boston. I moderated the chat … Continue reading “As Doctors Adopt Virtual Tools, Human Relationships Grow More Vital”