Just a few years ago, there were no drugs available for patients with the rare genetic disease spinal muscular atrophy. Now two cutting-edge therapies look headed for a commercial battle, with each data and revenue update a key moment in the race. Biogen (NASDAQ: [[ticker:BIIB]]) was the first to bring an SMA drug to market, … Continue reading “SMA Day: AveXis Gene Therapy Creeps Forward as Biogen Drug’s Sales Slow”
Category: New York
With Acorda Data, Experts Weigh the Benefits of New Parkinson’s Drugs
Levodopa, the gold-standard medicine for Parkinson’s disease, has helped millions of patients since the 1970s manage the neurodegenerative disease. But there’s a caveat. Nothing is available that can slow or reverse the loss of brain cells, and what’s more, levodopa’s effects wane over time. So-called “off” episodes, when the drug isn’t working, can become more … Continue reading “With Acorda Data, Experts Weigh the Benefits of New Parkinson’s Drugs”
Blockchain Gets Real? IBM Advances Projects With Walmart & Others
For all the hype surrounding the potential for blockchain systems to transform many industries, the technology has yet to have much of an impact on businesses. But 2018 is shaping up to be a critical year for the budding sector: more companies are increasing their investments in blockchains and expanding test programs, says Ramesh Gopinath, … Continue reading “Blockchain Gets Real? IBM Advances Projects With Walmart & Others”
Techstars Alexa Firms Address Settings Where Voice Is ‘Most Natural’
Smart speakers are becoming increasingly common in our homes. Users can instruct these devices to order takeout, give the weather forecast, or turn on or off various Internet-connected devices. The Consumer Technology Association estimates that nearly 44 million voice-enabled assistants will be sold this year in the United States. Unit sales rose 279 percent from … Continue reading “Techstars Alexa Firms Address Settings Where Voice Is ‘Most Natural’”
Using Analytics, Fitcode Aims to Connect Shoppers to Jeans That Fit
There are few things more universal in wardrobes the world over than blue jeans. But they are also the number one item that is returned by online shoppers, says Rian Buckley, founder and CEO of Fitcode. “Fit is the number one purchase driver and reason to return,” she says. For many of us, the idea … Continue reading “Using Analytics, Fitcode Aims to Connect Shoppers to Jeans That Fit”
Bio Roundup: Hope for Lungs, Bradner’s Complaint, FDA Nods & More
The biggest news this week was in oncology, hands down. Merck showed that its immunotherapy pembrolizumab (Keytruda) might become a common option for many patients newly diagnosed with advanced lung cancer, but the bigger picture is that the field is moving fast. While pembrolizumab notched the headline-grabbing data, others are also working to develop options … Continue reading “Bio Roundup: Hope for Lungs, Bradner’s Complaint, FDA Nods & More”
Want to Find Stellar Software Engineers in the Midwest? Here’s How
It may seem obvious that companies in the Midwest face challenges attracting and retaining talent, given our weather and location far from the coasts. One need only to look at college football recruiting, after all, to see how the average annual snowfall on campus matters almost as much as last season’s win/loss record. To some … Continue reading “Want to Find Stellar Software Engineers in the Midwest? Here’s How”
Techstars Anywhere Inaugural Class Takes Virtual Graduation Walk
[Corrected 4/20/09, 5:35 am. See below.] From Adelaide to Toronto, the Techstars accelerator that began in Boulder, CO, runs 39 programs in 27 cities around the world—with the prerequisite that admitted startups must relocate, if necessary, to the city where their three-month program is based. Today, however, the inaugural class of the 40th program—Techstars Anywhere—is … Continue reading “Techstars Anywhere Inaugural Class Takes Virtual Graduation Walk”
Shapeways Adds $30M to Push “Mass Personalization” Via 3D Printing
Shapeways, a New York-based 3D printing company, has raised $30 million in new funding to help expand its services for product designers aspiring to build successful small businesses. Shapeways, which has raised more than $100 million to date, operates an online marketplace where designers and others with product ideas can sell their 3D-printed wares, such … Continue reading “Shapeways Adds $30M to Push “Mass Personalization” Via 3D Printing”
BenevolentAI Raises $115M For Drug Discovery, Pegs Valuation at $2.1 Billion
BenevolentAI, one of the companies vying to improve healthcare through artificial intelligence analysis, says it has raised $115 million to accelerate its drive to discover new drugs by studying disease processes at the molecular level. The London-based company, which has offices in New York and Belgium, says the new capital brings its current valuation to … Continue reading “BenevolentAI Raises $115M For Drug Discovery, Pegs Valuation at $2.1 Billion”
Facebook: Lip Service to Privacy Is Over
As publicity-shy Facebook co-founder and CEO Mark Zuckerberg testified before both houses of Congress last week amid an avalanche of criticism about the dearth of user privacy on the world’s biggest social media network, it became crystal clear that the entire social media industry has entered a new and perilous phase. Trust in all social media … Continue reading “Facebook: Lip Service to Privacy Is Over”
Cancer Wrap: Blueprint, Checkmate, More AACR News & Phase 3 Blues
The big headlines from the American Association for Cancer Research meeting in Chicago were all about the battle over the latest lung cancer data, and for good reason. Lung cancer remains the deadliest cancer, but the Phase 3 data suggest that treatment options for some of the direst cases could soon rapidly expand. There were … Continue reading “Cancer Wrap: Blueprint, Checkmate, More AACR News & Phase 3 Blues”
U.S. Funding for Biomedical Research Takes Upturn
At the end of March, Congress passed a $1.3 trillion spending bill to fund federal agencies for the rest of the fiscal year and avert another government shutdown. The 2,232-page legislation included a $3 billion funding increase for the National Institutes of Health (NIH), the second largest in the health agency’s history. Other research and … Continue reading “U.S. Funding for Biomedical Research Takes Upturn”
Adecco to Buy General Assembly for $412.5M to Grow Tech Workforce
The Adecco Group, the global staffing and worker training giant, has inked a $412.5 million agreement to acquire General Assembly, a tech training and career development company that offers courses online and at 20 campuses worldwide. The deal underscores the growing demand for software coding and other digital skills—and employers’ increased willingness to turn to … Continue reading “Adecco to Buy General Assembly for $412.5M to Grow Tech Workforce”
For More Lung Cancer Patients, the Promise of No Chemo Looms Larger
[Editor’s note: Ben Fidler co-authored this report.] A decade from now, it’s possible that immunotherapy will have made a big dent in lung cancer, which is by far the deadliest type of the disease. Drugs from several companies have worked their way forward, initially for patients who have failed chemotherapy, and now, in some cases, … Continue reading “For More Lung Cancer Patients, the Promise of No Chemo Looms Larger”
Bio Roundup: Lung Cancer Showdown, Gene Therapy Deals, IPO Busts
This weekend, cancer immunotherapy will once again take biopharma’s center stage. At one of the year’s big cancer meetings, investors, researchers, and many others will have a close eye on a group of presentations touting new lung cancer regimens that combine immunotherapies with other treatments. The presentations could shift the dynamics of the fast-moving landscape, … Continue reading “Bio Roundup: Lung Cancer Showdown, Gene Therapy Deals, IPO Busts”
Bridge Medicines Hires Renzetti as Chief Scientific Officer
Louis Renzetti has been appointed chief scientific officer of New York-based Bridge Medicines. Renzetti most recently worked as chief research and early development officer of Gotham Therapeutics, another New York biotech startup. Before that, he was senior vice president of drug discovery and early development for Waltham, MA-based X-Rx. His experience also includes early drug … Continue reading “Bridge Medicines Hires Renzetti as Chief Scientific Officer”
No “Pink Tax”: Billie, a Shave Club for Women, Raises $6M
[Corrected, 4/11/18, 4:48 p.m. ET. See below.] Billie, a direct-to-consumer seller of monthly shaving and body care products subscriptions, has raised $6 million in new funding. The New York-based startup, which launched in November, previously raised $2.5 million. This latest round of funding was led by Silverton Partners in Austin and included existing investors Female … Continue reading “No “Pink Tax”: Billie, a Shave Club for Women, Raises $6M”
Super Saver Rate Ending—NY Biotech: Bringing Back the Expats on 6/21
You can grab your ticket now to attend confirmed speakers: Steve Holtzman, President & CEO, Decibel Therapeutics Jeremy Levin, CEO & Chairman of the Board, Ovid Therapeutics David Epstein, Executive Partner, Flagship Pioneering Jenna Foger, Senior Vice President – Science & Technology, Alexandria Venture Investments The super saver rate discount ends tomorrow, so hurry and
With New Data, Drug Combos, Lung Cancer Experts Scramble to Keep Pace
When oncologist Renato Martins finished his medical training, advanced lung cancer was almost certainly a quick death sentence. “I knew, by name, every patient who had survived two years,” he says. Thanks in large part to the arrival of cancer immunotherapy, things are much different today. While lung cancer remains by far the leading cause … Continue reading “With New Data, Drug Combos, Lung Cancer Experts Scramble to Keep Pace”
Circle CEO Allaire on Bitcoin, Blockchain & the Bank of the Future
Depending on whom you talk to, cryptocurrencies could be the biggest bubble in history or the backbone of the future global economy—or both. The reality is it’s too early to say. The industry must still navigate a host of issues, including wild price swings, global regulatory uncertainty, cyber threats, and technological limitations of blockchain systems, … Continue reading “Circle CEO Allaire on Bitcoin, Blockchain & the Bank of the Future”
Expectations Rise on Q1 Surge in Venture Funding; and Top 10 Deals
[Updated 4/11/18 10:13 am. See below.] Venture capital investors poured more than $28.2 billion into U.S. companies during the first three months of 2018—marking the strongest single quarter in at least a dozen years, according to the Venture Monitor Report released today by Seattle-based PitchBook and the National Venture Capital Association (NVCA). The $28.2 billion that … Continue reading “Expectations Rise on Q1 Surge in Venture Funding; and Top 10 Deals”
E-Commerce Startups Open Door to Endless Virtual Closet
The sharing economy is moving into our bedroom closets. We already apply this idea to transportation (Uber vs. taxi) and vacation accommodations (Airbnb vs. hotel). Now, thanks to a growing number of e-commerce companies, the ability to share goods and services is being applied to our wardrobes through programs that offer clothing rentals for a … Continue reading “E-Commerce Startups Open Door to Endless Virtual Closet”
Novartis Bets $8.7B on AveXis’s Gene Therapy for Spine Disease
A gene therapy for the rare disease spinal muscular atrophy could hit the U.S. market next year. If it does, the treatment will likely be sold by Novartis, not its developer, AveXis, thanks to a deal announced early this morning. Novartis has agreed to buy AveXis (NASDAQ: [[ticker:AVXS]]) and its experimental SMA gene therapy AVXS-101 … Continue reading “Novartis Bets $8.7B on AveXis’s Gene Therapy for Spine Disease”
Xconomy Roadmap 2018: Top 15 Innovation Areas to Watch
With the first quarter in the books, it’s time to step back and lay out Xconomy’s editorial map for the rest of the year. As readers know, we strive to cover a wide range of innovation sectors, from tech and life sciences to healthcare and education—all with a mix of on-the-ground reporting, daily news stories, … Continue reading “Xconomy Roadmap 2018: Top 15 Innovation Areas to Watch”
Incyte, Merck Cancer Trial Failure Damages IDO Drugs’ Prospects
A late-stage clinical trial testing the combination of a Merck cancer treatment and a new type of cancer drug developed by Incyte has failed, dealing a blow to a new drug class that many hoped would expand the reach of cancer immunotherapy. The Phase 3 study in melanoma tested the FDA-approved Merck (NYSE: [[ticker:MRK]]) cancer … Continue reading “Incyte, Merck Cancer Trial Failure Damages IDO Drugs’ Prospects”
BioCrossroads Report: Life Science Sector Thriving, With Room to Grow
BioCrossroads, Indiana’s public-private initiative to grow the state’s life sciences sector, has a new report highlighting the industry’s economic activity in 2017 based on data from Indiana University. According to the report, Indiana’s life sciences sector continues to expand in a couple of key areas, including the number of companies created, the number of new … Continue reading “BioCrossroads Report: Life Science Sector Thriving, With Room to Grow”
Bio Roundup: Ex-Kiters Say Allo, NASH Cash & Data, Alkermes No & More
Happy Friday, everyone. We’ll start this week with biotech deals, one featuring a couple of CAR-T heavyweights who have re-emerged after selling Kite Pharma for $12 billion. They will try to shepherd to market a different type of the promising cancer immunotherapy: allogeneic T cells that come from donors, not from a patient’s own blood. … Continue reading “Bio Roundup: Ex-Kiters Say Allo, NASH Cash & Data, Alkermes No & More”
Harvard-Born Quantum Software Startup Zapata Computing Raises $5.4M
Zapata Computing, a stealthy “quantum software and services company” that is collaborating with IBM, has pulled in $5.4 million in equity funding from investors, according to a document filed with the SEC this week. The young Cambridge, MA-based startup was launched last year by a group of Harvard University scientists, including Alán Aspuru-Guzik, according to … Continue reading “Harvard-Born Quantum Software Startup Zapata Computing Raises $5.4M”
Cleaner Vehicles Help Make Smarter Cities
Two of the most popular terms in urban planning today are smart cities and clean energy. These concepts naturally go hand-in-hand. As cities get smarter, they use energy more efficiently and in a more controllable fashion, and they are better able to incorporate intermittent clean energy sources. Cities, and the power grids that support them, … Continue reading “Cleaner Vehicles Help Make Smarter Cities”
Formlabs Pulls In $30M to Push Line of 3D Printers
The hype over consumer 3D printing has waned, but the case for selling the machines to businesses seems to be growing stronger—and the venture capital is pouring in. The latest to cash in is Somerville, MA-based Formlabs, which recently raised $30 million in new equity funding, according to a document filed with the SEC this … Continue reading “Formlabs Pulls In $30M to Push Line of 3D Printers”
How Next-Gen Chipmakers Are Raising Money, Taking On Tech Giants
The advent of big fundraising rounds for startup chip innovators—a class shunned by most venture capital firms only a few years ago—seems to mark a turnaround in recent VC attitudes about semiconductor investments. But it turns out VCs weren’t the only driving force behind the change in fundraising prospects for the young companies now inventing … Continue reading “How Next-Gen Chipmakers Are Raising Money, Taking On Tech Giants”
Ex-Kite Execs Resurface with $300M and Control of Pfizer CAR-T Cells
Arie Belldegrun and David Chang steered Kite Pharma last year to a historic FDA approval and a $12 billion bear hug from Gilead Sciences. Now they’ve re-emerged with a new startup, Allogene, which has $300 million in backing and the rights to a CAR-T cell therapy program which is quite different from the one they … Continue reading “Ex-Kite Execs Resurface with $300M and Control of Pfizer CAR-T Cells”
Reports: Walmart Wants to Buy PillPack, as Healthcare Ambitions Grow
Walmart is reportedly talking with PillPack about acquiring the online pharmacy and medication management company, a deal that would strengthen the retail giant’s healthcare offerings and potentially help it fend off Amazon if the Seattle e-commerce company starts selling prescription drugs. The PillPack acquisition talks were first reported by CNBC and later confirmed by other … Continue reading “Reports: Walmart Wants to Buy PillPack, as Healthcare Ambitions Grow”
Golden Seeds Seeks to Plant Angel Funds For Women Founders in Houston
Houston—Golden Seeds, an angel investing community that focuses on funding women entrepreneurs, has opened a chapter in Houston. The New York-based group now has six chapters around the country who have invested $150 million in 105 companies since it was founded in 2005. Loretta McCarthy, Golden Seeds’ managing partner, says the need for the organization … Continue reading “Golden Seeds Seeks to Plant Angel Funds For Women Founders in Houston”
Celgene Parts with COO Scott Smith “Effective Immediately”
Scott Smith, president and chief operating officer of Celgene (NASDAQ: [[ticker:CELG]]), has left the company. The Summit, NJ, drug maker gave no reason for Smith’s departure. In a press release issued after the markets closed Monday, Celgene said that Smith’s employment ended “effective immediately” and his duties will now be handled by chairman and CEO … Continue reading “Celgene Parts with COO Scott Smith “Effective Immediately””
GE Sheds Health IT Assets for $1B, Doubles Down on A.I. and Devices
General Electric is selling a chunk of its healthcare IT business to New York private equity firm Veritas Capital for $1.05 billion in cash, as GE (NYSE: [[ticker:GE]]) chief executive John Flannery aims to streamline the Boston-based industrial behemoth and reverse a steep decline in its stock price. Veritas has agreed to acquire GE Healthcare’s … Continue reading “GE Sheds Health IT Assets for $1B, Doubles Down on A.I. and Devices”
Getting Personal: Retailers Use New Tech to Court Individual Shoppers
“Personalized shopping” has long been the guiding light for retailers. But in the age of Amazon (NASDAQ: [[ticker:AMZN]]), traditional stores have been searching for the best way to digitize what was once a person-to-person process. “Internet shopping is now across mobile and Web, and now, the [question] is, ‘How do we create great experiences for … Continue reading “Getting Personal: Retailers Use New Tech to Court Individual Shoppers”
Mustang Bio Appoints Sadik Kassim CSO, Knut Niss Named CTO
Cancer immunotherapy developer Mustang Bio (NASDAQ: [[ticker:MBIO]]) has promoted Sadik Kassim to chief scientific officer. Kassim joined New York-based Mustang last year as vice president of process and analytical development. He came to Mustang from Novartis (NYSE: [[ticker:NVS]]), where he was head of analytical development. Mustang also promoted Knut Niss to chief technology officer. Niss … Continue reading “Mustang Bio Appoints Sadik Kassim CSO, Knut Niss Named CTO”
Bio Roundup: Biotech IPOs, Migraine Progress, Takeda Woos Shire & More
If the recent IPO activity seems to be on overdrive, it’s not your imagination. The number of companies filing to go public in the U.S. in the first quarter was up 44 percent compared to the same period a year ago, according to data compiled by consulting and accounting firm EY. Life science companies accounted … Continue reading “Bio Roundup: Biotech IPOs, Migraine Progress, Takeda Woos Shire & More”
The Edge or the Cloud? It Depends on the App
There’s no arguing that the cloud has transformed the way organizations deal with data and apps. It has freed IT departments from constantly provisioning and managing storage, while bringing overall costs down. For these reasons and more, companies everywhere are moving more and more data and compute tasks to the cloud every day. It’s important, … Continue reading “The Edge or the Cloud? It Depends on the App”
Among Facebook’s Woes, EU’s Strict Privacy Laws May Loom Largest
In a continuing effort to regain the trust of its disillusioned users, Facebook on Wednesday announced new privacy controls where settings can be made from a central menu, rather than by tunneling through as many as 20 screens. As Facebook unveiled the sweeping revisions, though, it also made a striking admission: The company knew it … Continue reading “Among Facebook’s Woes, EU’s Strict Privacy Laws May Loom Largest”
Going Downhill: Roam Robotics’ Exoskeleton Supports Aging Skiers
Robotics has found its way to the ski slopes. San Francisco-based Roam Robotics has developed an exoskeleton, worn on the legs, that the company says will improve skiers’ endurance and safety while they blaze down trails. For skiers 45 or older, Roam says, the exoskeleton can provide vital support for aging knees that might be … Continue reading “Going Downhill: Roam Robotics’ Exoskeleton Supports Aging Skiers”
Edge to Cut Jobs as Head Injury Drug Flops in Phase 3, Shares Tumble
For years, Edge Therapeutics has been building towards a crucial test of a drug meant to combat the potentially delayed effects of aneurysms and severe head injuries. The plan fell apart this morning: the company will shutter the study and cut its workforce because its experimental treatment, EG-1962, is likely to fail. An independent committee … Continue reading “Edge to Cut Jobs as Head Injury Drug Flops in Phase 3, Shares Tumble”
Tempest Therapeutics Debuts with $70M to Bring Cancer Drugs to Clinic
A number of companies are trying to improve cancer immunotherapy by disrupting the ways that tumors evade the immune system. Tempest Therapeutics is now joining that group with $70 million in financing to advance its drug pipeline. Tempest is a spinoff from a drug discovery unit supported by Versant Ventures, which co-led the Series B … Continue reading “Tempest Therapeutics Debuts with $70M to Bring Cancer Drugs to Clinic”
Are You Being Deliberate About Diversity in Your Investment Portfolio?
“We looked, but we couldn’t find any companies to acquire led by women or founders of color.” “I want to hire diverse talent, but it’s impossible to find.” “It’s not my fault that the financial sector doesn’t have a more varied talent pool or deals to make with non-white males.” I have heard all of … Continue reading “Are You Being Deliberate About Diversity in Your Investment Portfolio?”
FTC Opens New Probe: Revisits Its Old Charges On Facebook Privacy Practices
Among the host of legal woes Facebook is now confronting amid news about the misuse of its member profiles in election politics: The Federal Trade Commission revealed Monday that it is investigating the social media giant’s privacy practices. The FTC decision comes in the wake of recent reports about the ease with which political consulting … Continue reading “FTC Opens New Probe: Revisits Its Old Charges On Facebook Privacy Practices”
EY Report Suggests Improving Conditions for U.S. IPOs in 2018
U.S. IPO activity has been ticking up, with 36 IPOs raising more than $12.7 billion in the United States so far this year, according to data released Monday by EY, the global consulting and accounting firm. Although there are still several days remaining in the first quarter of 2018, EY reports the number of first-quarter … Continue reading “EY Report Suggests Improving Conditions for U.S. IPOs in 2018”
General Catalyst Bags $1.4B for Ninth Fund as Tech Investors Go Big
[Updated 3/27/18, 10:27 am. See below.] General Catalyst Partners is the latest venture capital firm to join the billion dollar fund club. The Cambridge, MA-based firm’s latest fund—its ninth—clocked in at $1.375 billion, according to a document filed with the SEC. That’s a significant jump from its last fundraising effort two years ago, when General … Continue reading “General Catalyst Bags $1.4B for Ninth Fund as Tech Investors Go Big”
Racing Allergan, Biohaven Touts Migraine Drug Data, But Shares Sink
Biohaven Pharmaceuticals has become the latest to head to the FDA seeking approval of a new type of migraine drug. But it’s unclear whether the treatment, rimegepant, will stand out amidst a crowd of new medicines aiming to help people fend off the debilitating headaches after they start. Biohaven (NYSE: [[ticker:BHVN]]), of New Haven, CT, … Continue reading “Racing Allergan, Biohaven Touts Migraine Drug Data, But Shares Sink”