Amid what seems like unlimited choices, a key way for retailers to stand out is to try to offer products no one else has. For a small boutique, that could be exclusive access to a bespoke clothing line, say, but creating and manufacturing one is typically cost-prohibitive except for the largest of retailers. Enter MakersValley. … Continue reading “Made in Italy: MakersValley Connects Boutiques to Apparel Factories”
Category: New York
Bio Roundup: CRISPR Babies, Blood Diseases, Big Cancer Nod & More
This was one of those weeks when the world seemed to slip into a new era with no going back. A Chinese researcher, He Jiankui, claimed he helped bring to life two genetically engineered babies, twin girls with a gene disabled to make them immune to HIV infection. Even though the technology He used—in vitro … Continue reading “Bio Roundup: CRISPR Babies, Blood Diseases, Big Cancer Nod & More”
As Hedge Fund Presses Takeover Bid, Mitek CFO Rescinds Resignation
Elliott Management, a New York-based activist hedge fund, has had San Diego-based Mitek Systems in its crosshairs for months. In October, Elliott subsidiary ASG Technologies Group publicly “reaffirmed” an offer to buy Mitek (NASDAQ: [[ticker:MITK]]) at $10 per share—an unsolicited proposal that it said Mitek had previously rebuffed, claiming it undervalued the company. At the … Continue reading “As Hedge Fund Presses Takeover Bid, Mitek CFO Rescinds Resignation”
GM’s Ammann Takes Reins of Cruise From Co-Founder Vogt, Now CTO
Self-driving car business Cruise has a new leader: Dan Ammann, the General Motors president who led the company’s acquisition of Cruise in 2016, is now being named CEO of the autonomous vehicle subsidiary. Cruise co-founder Kyle Vogt is relinquishing the top role to remain with the company as its president and chief technology officer. Vogt … Continue reading “GM’s Ammann Takes Reins of Cruise From Co-Founder Vogt, Now CTO”
Women Inspire NYC’s Tech Startups to Dream Bigger
As a native New Yorker, it may not come as much of a surprise that growing up I wanted to work in finance. In fact, I put myself through NYU Stern while working for companies like IBM, Prudential, and Merrill Lynch, and joined Goldman Sachs upon graduation. You could say I had made it in … Continue reading “Women Inspire NYC’s Tech Startups to Dream Bigger”
Abeona Terminates CEO Carsten Thiel for “Personal Misconduct”
Seven months after departing Alexion Pharmaceuticals for the CEO role at Abeona Therapeutics, Carsten Thiel is out of the job. Thiel has been terminated due to “personal misconduct,” Abeona (NASDAQ: [[ticker:ABEO]]) said in a prepared statement. The New York company said the termination followed an investigation by independent members of the board of directors and … Continue reading “Abeona Terminates CEO Carsten Thiel for “Personal Misconduct””
Workers, Investors, Trump React to Cuts as GM Clears Way for Mobility
On Monday, GM made an announcement that rattled Wall Street, automotive analysts, its own workforce, and President Trump . A day after the car manufacturer announced plans to close factories in Michigan, Ohio, Maryland, and Oshawa, Ontario, Trump threatened on Twitter Tuesday afternoon to take away GM’s federal electric car subsidies, which it uses to … Continue reading “Workers, Investors, Trump React to Cuts as GM Clears Way for Mobility”
Under Fire, He Jiankui Says He’s “Proud” to Help Make CRISPR’d Babies
[Updated, 11/28/18, 12:20pm ET. See below.] Is there another CRISPR baby on the way? In his first public appearance since his stunning claim, released on YouTube Sunday, that he helped bring the first genome-edited humans into the world, He Jiankui, a genomics researcher at Southern University of Science and Technology of China in Shenzhen, said … Continue reading “Under Fire, He Jiankui Says He’s “Proud” to Help Make CRISPR’d Babies”
Roche Gains Place in NASH Race with Purchase of Jecure Therapeutics
Roche is acquiring San Diego startup Jecure Therapeutics, with hopes of turning Jecure’s early research into a drug or drugs that treat the liver disease NASH. Through its South San Francisco, CA-based Genentech division, the Swiss pharmaceutical giant will acquire Jecure, whose work has yet to reach clinical studies, the companies announced Tuesday. No financial … Continue reading “Roche Gains Place in NASH Race with Purchase of Jecure Therapeutics”
Shine Raises $30M, Could Add $150M More After Inking Deerfield Deal
[Updated 11/28/18 10:52 a.m. See below.] Shine Medical Technologies, a Janesville, WI-based company that’s working to resume domestic production of a vital medical isotope, said Tuesday that Deerfield Management, a New York-based investing firm, has agreed to pour up to $150 million into Shine’s coffers in the coming years. Shine executives had previously told company shareholders … Continue reading “Shine Raises $30M, Could Add $150M More After Inking Deerfield Deal”
NY E-Commerce Startups Ponder a Future With Amazon “HQ2” in Backyard
As Amazon moves into its new home in the Big Apple, the company will find itself immersed in a storied—if tumultuous—local retail industry. Unlike the other contenders for Amazon’s so-called “HQ2” satellite offices, New York City is home to the nation’s historical retail roots on “Fashion Avenue,” as well as a growing e-commerce startup scene. … Continue reading “NY E-Commerce Startups Ponder a Future With Amazon “HQ2” in Backyard”
Ireland to Sequence 400K Genomes With New Precision Medicine Effort
Ireland is the latest country to undertake an ambitious national project to sequence the genomes of a sizable chunk of its population. Genomics Medicine Ireland (GMI), a population genomics company based in Dublin (pictured), announced today that it is receiving $225 million in “near-term” investment (up to a total of $400 million with milestone payments) … Continue reading “Ireland to Sequence 400K Genomes With New Precision Medicine Effort”
Genetic Medicine: FDA OKs 2nd Cancer Drug That Targets DNA, Not Tissues
[Updated 11/26/18. See below.] Going deeper into the new world of genetic medicine, the FDA has for the second time approved a drug that targets a tumor’s DNA fingerprint, no matter where in the body that cancer is found. And more could be on the way. The drug is larotrectinib (Vitrakvi), from Loxo Oncology (NASDAQ: … Continue reading “Genetic Medicine: FDA OKs 2nd Cancer Drug That Targets DNA, Not Tissues”
After Deal Stalled, Shine Medical Eyeing Up to $160M from Deerfield
[Update 11/27/18 8:34 p.m.] Following the publication of an Xconomy report that Shine Medical Technologies appeared to be on the verge of landing a nine-figure investment from Deerfield Management, the two companies said Tuesday that Deerfield will invest up to $150 million in Shine to support the construction of a radioisotope-manufacturing facility. [Story originally published … Continue reading “After Deal Stalled, Shine Medical Eyeing Up to $160M from Deerfield”
After Head Injury Drug Fails, Edge Merges with Immuno-Oncology Firm PDS
An experimental head injury drug took Edge Therapeutics all the way to the public markets. But one failed clinical trial later and the company is now heading for the exits. Edge (NASDAQ: [[ticker:EDGE]]) this morning announced plans to merge with a privately held company, PDS Biotechnology of North Brunswick, NJ, that is developing a group … Continue reading “After Head Injury Drug Fails, Edge Merges with Immuno-Oncology Firm PDS”
Necessity Vs. Innovation-Based Entrepreneurs
What makes someone an entrepreneur? Most simply defined, an entrepreneur is a person who identifies a need and starts a business to fill that void. But others will argue that a “true” entrepreneur must come up with an innovative new product or service and then operates their business to sell and profit from that innovation. … Continue reading “Necessity Vs. Innovation-Based Entrepreneurs”
Robots and Tax Breaks: How Plus One Robotics Started in San Antonio
San Antonio—Toyota opened a large-scale manufacturing plant in San Antonio, TX, in 2006, where both humans and computer-controlled Yaskawa robots began to build Tundra and Tacoma trucks. Erik Nieves moved to San Antonio because someone had to install, program, and maintain those robots. Nieves was the man for the job: Not only was he originally … Continue reading “Robots and Tax Breaks: How Plus One Robotics Started in San Antonio”
ASH 2018: A Guide to the Latest for Blood-Borne Cancers and More
[Note: Ben Fidler co-authored this report.] This weekend, San Diego will host the annual American Society of Hematology conference, the largest U.S. medical gathering to get the latest on blood diseases, and a venue for updates on some of the most cutting-edge biotechnologies that only a few years ago seemed like science fiction. Using the … Continue reading “ASH 2018: A Guide to the Latest for Blood-Borne Cancers and More”
Diversity in Venture Capital: Scenes From Culture Shifting Weekend
While women and minorities make up 70 percent of the population, less than two percent of the tens of trillions of dollars in the asset management industry are entrusted to women or minorities. In recent years, gains have been made among women in venture capital. Diversity beyond gender, though, continues to lag. That’s part of … Continue reading “Diversity in Venture Capital: Scenes From Culture Shifting Weekend”
Immigrants Are Key to Winning the AI Arms Race
If we want to create jobs and economic opportunity here in the U.S., we’re going to need immigrants. Not only have they pioneered our country’s greatest achievements, bringing you everything from hot dogs to YouTube, but today they serve at the cutting edge of our foremost industries. Nowhere is this more true than in the … Continue reading “Immigrants Are Key to Winning the AI Arms Race”
Flatiron Health, Quentis, Rgenix & More at New York Biotech: How to Make It Here
We’re bringing the New York biotech community together once again on Tuesday, December 18 for our latest life sciences event—New York Biotech: How to Make it Here. At Riverpark at the Alexandria Center, leaders from Flatiron Health, Quentis Therapeutics, Rgenix, and the Partnership Fund for New York City will talk through how they’ve been trying … Continue reading “Flatiron Health, Quentis, Rgenix & More at New York Biotech: How to Make It Here”
Silvergate Bank Files for IPO to Grow Cryptocurrency Services
Silvergate Bank has transformed itself in recent years from a typical business bank to one of the financial institutions of choice for digital currency companies. Now the cryptocurrency-friendly bank, which is headquartered in La Jolla, CA, is preparing to go public. On Tuesday it set a $50 million price target, according to documents filed with … Continue reading “Silvergate Bank Files for IPO to Grow Cryptocurrency Services”
How Blockchain Is Finding a Place at Your Thanksgiving Table
The food we buy in grocery stores and restaurants has a story to tell about where it came from and each step it took on its journey to your dinner table. Blockchain technology can help tell that tale. The story many food companies want to tell these days is about safety. Earlier this year, an … Continue reading “How Blockchain Is Finding a Place at Your Thanksgiving Table”
Uber Expands Its E-Bike Service, Jump, to 2 More West Coast Cities
Hundreds of red, “dockless” electronic bikes appeared on the streets of San Diego and Seattle on Monday, the latest cities in which Uber introduced its e-bike program, Jump. The expansion comes days after Uber began rolling out the bike-sharing service across Los Angeles. The San Francisco-based ride-hailing giant acquired Jump Bikes, a Brooklyn e-bike sharing … Continue reading “Uber Expands Its E-Bike Service, Jump, to 2 More West Coast Cities”
Plant-Based Burger Maker Beyond Meat Cooks Up Plans for an IPO
We’ll soon find out if Wall Street has the appetite for investing in alternative meat technology. Beyond Meat, a maker of plant-based meat products, has filed for an IPO. The El Segundo, CA-based company set a preliminary target of $100 million for the stock offering, a figure that will likely change as the company moves … Continue reading “Plant-Based Burger Maker Beyond Meat Cooks Up Plans for an IPO”
X·CON 2018: Photos From Three Innovation Days in November
On November 4-6, Xconomy organized a meeting of the minds—an elite gathering of leaders in technology, business, healthcare, education, and energy—to discuss and demonstrate the key trends in their fields, heading into next year. Our expert speakers and attendees at X·CON 2018 tackled everything from the impact of artificial intelligence on enterprises to the emerging … Continue reading “X·CON 2018: Photos From Three Innovation Days in November”
Human Space Travel as a Platform to Accelerate Biomedical Innovation
A manned mission to Mars is slated for as early as 2024, but there are serious health risks that must be mitigated in order for such a mission to be successful. The most pressing risk identified by NASA is radiation exposure. Instead of stunting our spirit of exploration, there is an urgent need to develop effective radioprotection strategies to … Continue reading “Human Space Travel as a Platform to Accelerate Biomedical Innovation”
Wonolo Scores $32M to Expand Blue-Collar Gig Workers’ Marketplace
Wonolo, which runs a marketplace where companies can find fill-in staffers for jobs like stocking store shelves and warehouse chores, announced Monday that it raised $32 million in a Series C funding round led by Bain Capital Ventures. Bain Capital also invested this year in another tech startup focused on blue collar workers: UpKeep, which … Continue reading “Wonolo Scores $32M to Expand Blue-Collar Gig Workers’ Marketplace”
Bio Roundup: Moderna’s IPO, Arena’s Comeback, E-Cig Survey & More
Thanksgiving is around the corner and this week delivered a bounty of deals that have a number of life science companies expressing their thanks a little early. One deal saw a company land a whopping $800 million upfront for a rights to a drug still in clinical testing. Another biotech landed a $98 million investment … Continue reading “Bio Roundup: Moderna’s IPO, Arena’s Comeback, E-Cig Survey & More”
Silicon Valley Advisory: Make Talent Retention Personal
It took me by complete surprise. Here I was thinking we were on the same page, that we were doing some good things together and, despite some challenges, we made a pretty good team. So, when one of my brightest early talent employees walked into my office to tell me he was leaving, I asked … Continue reading “Silicon Valley Advisory: Make Talent Retention Personal”
Data Starts Stretch Run for UniQure’s Upgraded Hemophilia Gene Therapy
The race to treat hemophilia with gene therapy, a one-time, long-lasting infusion, is entering its final stages. And with new data released this morning, Dutch and Lexington, MA, firm UniQure has finalized its plans to be among the top finishers. UniQure (NASDAQ: [[ticker:QURE]]) today disclosed preliminary results from a tiny mid-stage study of a gene … Continue reading “Data Starts Stretch Run for UniQure’s Upgraded Hemophilia Gene Therapy”
Synthorx Files for IPO to Advance Enhanced Cytokine Drugs
Synthetic biology company Synthorx is laying plans for an initial public offering to raise money to advance its suite of enhanced cytokine drugs. The San Diego-based company says it wants to use the proceeds to put its lead product candidate, an investigational cancer therapy that’s based on the drug interleukin-2 (IL-2), through dose escalation and … Continue reading “Synthorx Files for IPO to Advance Enhanced Cytokine Drugs”
Celgene Doubles Down on Dragonfly, Pays $50M to Expand Cancer Pact
Celgene’s collaboration with Dragonfly Therapeutics is less than 18 months old, but the pharmaceutical company is already expanding the alliance. Celgene (NASDAQ: [[ticker:CELG]]) is paying Waltham, MA-based Dragonfly $50 million upfront to add four more drug targets to the four covered by the original partnership last year. Celgene has the option to license and further … Continue reading “Celgene Doubles Down on Dragonfly, Pays $50M to Expand Cancer Pact”
Bain Capital Ventures Nets $1B Funding to Fuel New Round of Tech Bets
Bain Capital Ventures has raised $1 billion to pour into technology companies large and small across a swath of industries, the largest single round of fundraising in the firm’s history. The cash includes a $650 million core fund—that’ll be aimed half at early stage startups and half at later-stage growth companies—as well as a $250 … Continue reading “Bain Capital Ventures Nets $1B Funding to Fuel New Round of Tech Bets”
Amazon Ends “HQ” Search, Pledges to Spend $5B on New Sites in NY, VA
The wait is finally over. Amazon said Tuesday it plans to significantly expand its presence in the New York City and Washington, DC, metropolitan areas beginning next year. The announcement was widely expected following news reports identifying the locales as likely winners of Amazon’s lengthy search process for an additional “headquarters,” as the company is … Continue reading “Amazon Ends “HQ” Search, Pledges to Spend $5B on New Sites in NY, VA”
Kymera Adds $65M in New Funding and Eyes First Clinical Test
Cells have a built-in way of breaking down damaged or unneeded proteins. Kymera Therapeutics is trying to harness this process as a therapy—using it to get rid of disease-causing proteins. As the biotech prepares to test its technology in humans, it has now raised $65 million in financing. The cellular process for disposing of proteins … Continue reading “Kymera Adds $65M in New Funding and Eyes First Clinical Test”
CEOs and Scientific Founders: Tips for a Long and Successful Marriage
It seemed like the perfect match: A scientist founder from a top-tier academic institution; A technological innovation based on years and millions of dollars of federally-funded research in a university lab; And a successful entrepreneur and industry veteran named as the CEO of the startup that would take the work forward. But soon after the … Continue reading “CEOs and Scientific Founders: Tips for a Long and Successful Marriage”
Universal Robots Hires Former Rethink Robotics Workers After Closure
A little more than a month after Rethink Robotics shut down, a competitor has hired more than 20 of the Boston-based firm’s former employees. Universal Robots, a Denmark-based maker of collaborative industrial robots, announced Tuesday it has brought on key Rethink personnel, primarily in engineering and product development. The hires include former Rethink chief operating … Continue reading “Universal Robots Hires Former Rethink Robotics Workers After Closure”
Nuance Goes All-in on Speech Tech, Sells Document Business to Kofax
Nuance Communications is selling its document imaging division to Kofax for $400 million in cash, as Nuance’s new CEO narrows the company’s focus on its conversational artificial intelligence products and cloud-related technologies. Nuance’s (NASDAQ: [[ticker:NUAN]]) document imaging business provides enterprise software tools for securely capturing data from print or electronic documents, printing documents, and uploading … Continue reading “Nuance Goes All-in on Speech Tech, Sells Document Business to Kofax”
Qualtrics Skips IPO for $8B Sale to SAP
It’s hard to say no to $8 billion. Qualtrics, the enterprise software firm that was on the verge of going public, has pulled its IPO in favor of selling to German software giant SAP for $8 billion in cash. Qualtrics—which has dual headquarters in Provo, Utah (where it was founded in 2002), and Seattle—sells software … Continue reading “Qualtrics Skips IPO for $8B Sale to SAP”
Deeper Dive: Amarin Fish-Oil Study Gives Eager Doctors More to Ponder
Two months ago, the medical community was all abuzz over a big clinical study that showed a prescription fish-oil supplement could reduce the risk of heart disease. Today, a fuller look at the data presents a more nuanced picture. Doctors working on the REDUCE-IT trial, which enrolled more than 8,000 people, published the full set … Continue reading “Deeper Dive: Amarin Fish-Oil Study Gives Eager Doctors More to Ponder”
Eyeing $500M, Moderna Outlines Plans for Biotech’s Biggest IPO Ever
One of the biggest gambles in biotech history is about to be tested on Wall Street. Moderna, the high-flying yet secretive developer of messenger RNA therapeutics, filed papers on Friday afternoon outlining its long-awaited IPO. In its prospectus, Moderna set an initial target of $500 million for the offering, which would make it the largest … Continue reading “Eyeing $500M, Moderna Outlines Plans for Biotech’s Biggest IPO Ever”
Bio Roundup: Midterm Fallout, Alzheimer’s Search, Postpartum Panel
There was plenty at stake in this week’s midterm elections, and not just in terms of political wins and losses. With congress now divided—Democrats took back control of the House and Republicans extended their majority in the Senate—the implications are significant for U.S. healthcare. Just a day after the results, for instance, Senate Majority Leader … Continue reading “Bio Roundup: Midterm Fallout, Alzheimer’s Search, Postpartum Panel”
Hold Your Horsepower: For Mobility Industry, “Reality Is Sinking In”
Earlier this month, GM CEO Mary Barra told the crowd at a financial conference that her company was on track to unveil a ridesharing service in 2019 that would be powered by autonomous vehicles. It sounded like pretty big news, but to understand company announcements about the commercial viability of driverless cars, one must first … Continue reading “Hold Your Horsepower: For Mobility Industry, “Reality Is Sinking In””
Rainwater Foundation Deploys Millions Toward Rare Brain Disease, PSP
Dallas — A foundation started by a Texas billionaire announced Tuesday it will offer millions of dollars in awards to scientists who research neurodegenerative diseases such as Alzheimer’s and progressive supranuclear palsy. The Rainwater Charitable Foundation, which was founded in the 1990s by billionaire investor Richard Rainwater, announced it will start to offer in 2019 an … Continue reading “Rainwater Foundation Deploys Millions Toward Rare Brain Disease, PSP”
Bashing Rival’s Pharma Record, Troubled Menendez Keeps NJ Senate Seat
Running a successful pharmaceutical business apparently isn’t a big selling point for New Jersey voters. The state voted today to re-elect Senator Bob Menendez, a Democrat, and cast aside his GOP challenger Bob Hugin, the former CEO of Celgene (NASDAQ: [[ticker:CELG]]), one of the world’s most valuable drug companies. As Election Day turned to Wednesday, … Continue reading “Bashing Rival’s Pharma Record, Troubled Menendez Keeps NJ Senate Seat”
Mitek Systems Rejects ASG’s $380M Takeover Bid
Mitek Systems, which is being targeted for takeover by a subsidiary of Elliott, billionaire Paul Singer’s activist hedge fund, has unanimously rejected its $380 million offer. The Oct. 31 offer—rejected Monday—was made by ASG Technologies Group, a Florida-based software company that last year sold a controlling stake to Evergreen Coast Capital, Elliott’s Menlo Park, CA, … Continue reading “Mitek Systems Rejects ASG’s $380M Takeover Bid”
Amazon Reportedly Picks HQ2 City—and, in Surprise, Another for HQ3
Amazon is reportedly choosing two cities, not one, for its second headquarters, according to sources cited by The Wall Street Journal and The New York Times. Amazon (NASDAQ: [[ticker:AMZN]]) is working on a deal to move into both the Long Island City neighborhood of Queens in New York City and the Crystal City neighborhood of … Continue reading “Amazon Reportedly Picks HQ2 City—and, in Surprise, Another for HQ3”
Esperanto Reaps $58M to Speed Development of Its AI Chip
Esperanto Technologies, a startup AI chip developer that has operated mostly below the radar since its founding in 2014, announced this week that it raised $58 million in a Series B fundraising round. Mountain View, CA-based Esperanto is vying with a host of competitors to create new processors for high-order tasks like machine learning and … Continue reading “Esperanto Reaps $58M to Speed Development of Its AI Chip”
PhageNova Bio Appoints Renata Pasqualini Chief Scientific Officer
Renata Pasqualini has been named chief scientific officer of New York-based PhageNova Bio. Pasqualini is a founder of the company, which recently changed its name from AAVP Biosystems. She is a professor and the chief of the division of cancer biology in the department of radiation oncology at the Rutgers Cancer Institute. Preclinical-stage PhageBio is … Continue reading “PhageNova Bio Appoints Renata Pasqualini Chief Scientific Officer”