[Updated, 1/31/18, see below] Gene therapy pioneer James Wilson and University of Pennsylvania colleagues sounded an alarm Tuesday morning about the use of gene therapy to treat severe diseases like spinal muscular atrophy and Duchenne muscular dystrophy, sending a chill across the sector. Shares of several companies inched downward as word spread about the UPenn … Continue reading “After Paper Shakes Sector, Gene Therapy Leader Jim Wilson Talks Safety”
Category: New York
Amazon’s New Healthcare Venture: Insurance, Drugs, or Something Else?
After months of speculation that Amazon could soon expand its presence in the healthcare sector, the Seattle-based online retail leader said Tuesday that it plans to launch a joint venture with Berkshire Hathaway and JPMorgan Chase to provide the three companies’ U.S. employees “with simplified, high-quality, and transparent healthcare at a reasonable cost.” The companies … Continue reading “Amazon’s New Healthcare Venture: Insurance, Drugs, or Something Else?”
Evicted from the Smart City: No Citizens Needed
Tech vendors know when they knock on the doors of local politicians to pitch smart cities technologies and promising billions in savings, they are going to find a receptive audience. Big Tech promises what politicians desperately want to hear: that we can address deep-seated, structural urban problems through business-led technological innovation and somehow sidestep the … Continue reading “Evicted from the Smart City: No Citizens Needed”
Sunovion Parkinson’s Drug Heads to FDA, Setting Up Battle With Acorda
Another drug that may help alleviate some of the debilitating symptoms of Parkinson’s disease is on its way to an FDA review, setting up a possible commercial battle between two drug developers, Sunovion Pharmaceuticals and Acorda Therapeutics. Sunovion, of Marlborough, MA, said late Monday that its experimental Parkinson’s drug, APL-130277, succeeded in a 109-patient Phase … Continue reading “Sunovion Parkinson’s Drug Heads to FDA, Setting Up Battle With Acorda”
Evergage Scoops Up MyBuys to Make Shopping More Personal
Evergage has acquired MyBuys in a deal that underscores the increasing importance of personalization in marketing products to consumers. Somerville, MA-based Evergage declined to share the price it paid to purchase the MyBuys merchandising products business from New York-based Magnetic, an advertising technology firm that merged with MyBuys in 2015. An undisclosed number of MyBuys … Continue reading “Evergage Scoops Up MyBuys to Make Shopping More Personal”
After Conquering Detroit Auto Show, Carmera to Expand Mapping Service
At the North American International Auto Show, which just wrapped in Detroit, New York-based Carmera won best in show at the startup competition hosted by AutoMobili-D, and also received startup of the year honors in the autonomous driving category from the state’s PlanetM program. Not bad for a company that just exited stealth mode a … Continue reading “After Conquering Detroit Auto Show, Carmera to Expand Mapping Service”
Building a Smart City Upon a Hill
In my Los Angeles neighborhood there is a gnarly 5-way stop. It’s all stop signs, and because of the number of accidents, the city is considering switching to traffic lights. I receive letters from the street department giving me updates and inviting me to comment. There have been multiple neighborhood meetings. Officials have gone a … Continue reading “Building a Smart City Upon a Hill”
Hugin to Retire from Celgene Board, CEO Alles Adds Chairman Role
Bob Hugin, chairman of Celgene’s (NASDAQ: [[ticker:CELG]]) board of directors, plans to retire effective Feb. 5. Mark Alles, CEO of the Summit, NJ, drugmaker, will take on the additional role of chairman after Hugin steps away. Hugin joined Celgene in 1999 as CFO. He was president and chief operating officer of the company from 2006 … Continue reading “Hugin to Retire from Celgene Board, CEO Alles Adds Chairman Role”
Luminex’s Tadd Lazarus Joins Clinical Genomics as Chief Medical Officer
Tadd Lazarus has joined cancer tests company Clinical Genomics as chief medical officer. Before coming to the Bridgewater, NJ-based company, Lazarus was senior vice president and chief medical officer for Luminex (NASDAQ: [[ticker:LMNX]]), an Austin, TX, firm that develops and sells biological testing technologies. Clinical Genomics markets tests for colorectal cancer.
Here’s What I Made (Finally) With My Glowforge Laser Cutter
When I lifted the lid on the Glowforge laser cutter to reveal the family portrait engraved on a wooden jigsaw puzzle, it brought a smile to my face like few other tech products I’ve used before. This simple project—enabled by a very complex machine—was a long time coming, but it was worth the wait. I … Continue reading “Here’s What I Made (Finally) With My Glowforge Laser Cutter”
Bio Roundup: Spark v. ICER, A Solid Revelation, T Cell Deals & More
The United States has a new Health and Human Services chief who is expected to weigh in on the country’s drug-pricing debate. But how Alex Azar, a former pharma executive at Eli Lilly (NYSE: [[ticker:LLY]]), plans to throw his weight around remains to be seen. One of the latest exhibits in the debate is an … Continue reading “Bio Roundup: Spark v. ICER, A Solid Revelation, T Cell Deals & More”
Solid Discloses Duchenne Problems in IPO & Raises Rival’s Hackles
[Updated, 1/26/18, see below] Solid Biosciences was expected to ride gene therapy’s wave of recent momentum to an IPO this week. But new revelations have clouded the offering, as the company revealed just before going public that its most advanced drug candidate has been under FDA scrutiny since mid-November. The gene therapy, SGT-001, is being … Continue reading “Solid Discloses Duchenne Problems in IPO & Raises Rival’s Hackles”
Novartis Pays Spark $105M Up Front for Gene Therapy Rights Outside U.S.
Spark Therapeutics is licensing to Novartis the rights to its gene therapy outside of the U.S., a deal that puts the treatment for a rare, inherited form of blindness in the hands of a large pharmaceutical company with the resources to commercialize the drug globally. Novartis (NYSE: [[ticker:NVS]]) is paying Spark (NASDAQ: [[ticker:ONCE]]) $105 million … Continue reading “Novartis Pays Spark $105M Up Front for Gene Therapy Rights Outside U.S.”
Security Is Dead, Long Live Security
Roughly every three years, someone steps up and boldly claims the security software industry is going away, and they are probably right—much like there is a strong chance of the cold energy death of the universe. However, neither is likely tomorrow. With all due respect, such claims usually suffer from the recency bias or, put … Continue reading “Security Is Dead, Long Live Security”
Columbia Spinout Allure Security Bags $5.3M to Guard Business Data
Allure Security Technology, a Boston-area cybersecurity startup with roots at Columbia University, announced Thursday it has raised $5.3 million in seed funding to grow its staff and enhance its software that is aimed at helping businesses protect against data loss. The investment was led by Boston-based Glasswing Ventures, an early-stage venture firm that backs companies … Continue reading “Columbia Spinout Allure Security Bags $5.3M to Guard Business Data”
SoftBank Continues Funding Spree, Leads $865M Round for Katerra
Katerra, a building construction startup inspired by the efficient practices of electronics manufacturing, announced today it has raised $865 million in a Series D fundraising round led by the SoftBank Vision Fund. The company was co-founded in 2015 by Michael Marks, the former CEO of contract electronics manufacturer Flextronics. Katerra has large-scale ambitions that match the … Continue reading “SoftBank Continues Funding Spree, Leads $865M Round for Katerra”
Have $100M, Looking For Ideas: NYCEDC Begins Search For a NY Bio Campus
If you had $100 million to create an epicenter for New York biotech, what would you do with it? The New York City Economic Development Corp., a quasi-governmental agency supporting job growth in New York, has put that question to the private sector. The NYCEDC has called for proposals asking a “mission-driven organization or joint … Continue reading “Have $100M, Looking For Ideas: NYCEDC Begins Search For a NY Bio Campus”
Should Startups Extend the Window to Exercise Options?
Pinterest did it. Square did it. And Coinbase did it, too. These unicorns have all given departing employees more than the standard 90 days to exercise their stock options. They’ve extended the window to exercise options for employees who have at least a minimum period of service. The tech recruiting site Triplebyte urged an even … Continue reading “Should Startups Extend the Window to Exercise Options?”
Facebook Touts Countermeasures to Election Hacking: Are They Enough?
Facebook expanded its mea culpa on Monday for failing to prevent “bad actors” such as Russian entities from using the social media platform to distort democratic processes—notably the U.S. presidential election in 2016. The company unveiled another series of measures it’s taking to prevent malefactors, who hide behind false names, from spreading fake and incendiary … Continue reading “Facebook Touts Countermeasures to Election Hacking: Are They Enough?”
Disney, Family Offices Back Second Bio Startup from Tech Entrepreneur Haney
To launch his first biotech startup, Dragonfly Therapeutics, Bill Haney went to private family offices, including one linked to the Disney family, rather than venture firms. Now the tech investor, entrepreneur and filmmaker is at it again, leaning on some of the same investors to fund Skyhawk Therapeutics, a new company joining an emerging race … Continue reading “Disney, Family Offices Back Second Bio Startup from Tech Entrepreneur Haney”
Hey Alexa, What’s in a Name? Actually, Let’s Call You Amazon
With “Hey Google” and “Alexa” echoing from the expo halls of Las Vegas to millions of homes, the hype around voice-controlled computing is reaching a new peak in early 2018. Voice-controlled devices are permeating our world, and this new user interface is the future of computing—or so we are told by the companies purveying it. … Continue reading “Hey Alexa, What’s in a Name? Actually, Let’s Call You Amazon”
Tmunity Reels in $100M for “Next Generation” Cancer Immunotherapy
[Updated 1/23/18, 11:21 a.m. See below.] Two therapies from the emerging field of engineered T cells won FDA approval to treat blood cancers last year, and the scramble is on to treat more types of cancer. Led by Usman “Oz” Azam (pictured above), the executive who once led Novartis’s cell and gene therapy group, Tmunity … Continue reading “Tmunity Reels in $100M for “Next Generation” Cancer Immunotherapy”
Cargo Zooms Ahead with New Cash, Plans to Expand to 10 Cities
Score one for mobile convenience stores. Cargo, a New York City-based graduate of the Techstars Mobility accelerator, announced Monday it has raised more money from investors, reached its one millionth passenger, and will soon expand from test markets in New York, Chicago, and Boston to new cities . We caught up with Cargo founder and … Continue reading “Cargo Zooms Ahead with New Cash, Plans to Expand to 10 Cities”
Amazon Go Reviews: Praise for Shopping Speed, Caution Around Privacy
Whole Foods has always been on the bleeding edge of improving the efficiency of the grocery store checkout. The New York Times praised the chain a decade ago for its single-line strategy, which other retailers copied. Other trade publications have noted unique tactics Whole Foods uses in its busiest stores, like the color-coded system at … Continue reading “Amazon Go Reviews: Praise for Shopping Speed, Caution Around Privacy”
With $20B to Spend, Sanofi, Celgene Bet Big on Hemophilia, CAR-T
Two top drugmakers, Sanofi and Celgene, agreed on Monday morning to shell out more than $20 billion combined, cinching deals for hemophilia drug maker Bioverativ and cell therapy developer Juno Therapeutics. Each agreement represents an expensive, risky bet on a crowded, rapidly changing field. In one acquisition, Sanofi is buying Waltham, MA-based Bioverativ (NASDAQ: [[ticker:BIVV]]), … Continue reading “With $20B to Spend, Sanofi, Celgene Bet Big on Hemophilia, CAR-T”
Why Spark and Watchdog ICER Don’t See Eye-to-Eye on $850K Gene Therapy
The first gene therapy approved in the U.S. costs $850,000. Announcing the price on Jan. 3, its owner Spark Therapeutics held out the possibility of some relief, such as installment payments, or slim rebates if the drug, a one-time shot into each eye to reduce or reverse inherited vision loss, doesn’t work or wears off. … Continue reading “Why Spark and Watchdog ICER Don’t See Eye-to-Eye on $850K Gene Therapy”
Democratization of Automation: The Next Generation of Industrial Robotics
In the coming years, artificial intelligence will have many transformative impacts, but the one perhaps most resembling science fiction will be the rise of autonomous physical systems: real-world systems that can make decisions for themselves. Of these autonomous systems, self-driving cars have captured the most attention. But the field of manufacturing, which represents one-sixth of … Continue reading “Democratization of Automation: The Next Generation of Industrial Robotics”
Q&A: Dell Med’s DeSalvo Talks Social Health Startups, Data Ownership
Karen DeSalvo has experience working in the public sector, but she’s hardly what you’d call a government bureaucrat. DeSalvo, who is trained as a physician, served as the National Coordinator for Health Information Technology from 2014 to 2016 under President Barack Obama. During some of the time she headed the ONC, as the office is … Continue reading “Q&A: Dell Med’s DeSalvo Talks Social Health Startups, Data Ownership”
Bio Roundup: Spark’s Road Ahead, Juno Rumors, Merck’s Big Day & More
The most overblown health story of the week was President Trump’s health exam. America learned Trump is in perfect health and has “great genes.” He takes Propecia. He doesn’t have heart problems, had a perfect cognitive test score, and is one pound shy of obese. This scintillating information led to a new social media phenomenon, the … Continue reading “Bio Roundup: Spark’s Road Ahead, Juno Rumors, Merck’s Big Day & More”
Tougher “Immigration” Policies On Foreign Tech Crossing U.S. Border
It’s not only people from other countries that are struggling harder to get into the United States these days, it seems. Technology from foreign nations may also be subject to stricter “immigration” rules. The national origins of tech devices and services wasn’t a front-burner question—at least for the general public—until the issue came up at … Continue reading “Tougher “Immigration” Policies On Foreign Tech Crossing U.S. Border”
Absences, Surprises in Amazon’s Final List of 20 Cities for HQ2
And then there were 20. Amazon has winnowed down the field of 238 submissions from communities around North America vying to host a second headquarters (HQ2) of the Seattle-based tech giant. Most large cities with existing or emerging tech hubs appear on the list, from Austin, TX, and Boston, MA, to Washington, DC, and Toronto, … Continue reading “Absences, Surprises in Amazon’s Final List of 20 Cities for HQ2”
Advancing A.I. for Business: Google Unveils Tools, Indico Nabs $4M
Tech companies continue to develop software tools and services aimed at unlocking the potential benefits of artificial intelligence for all businesses, regardless of whether or not they have skilled data scientists on staff. Two of the latest examples come from a startup, Boston-based Indico, and a tech giant, Google. Today, Indico announced it pulled in … Continue reading “Advancing A.I. for Business: Google Unveils Tools, Indico Nabs $4M”
Detroit Auto Show Puts Big Focus on Mobility Technologies, Startups
The North American International Auto Show (NAIAS) kicked off this week in Detroit, allowing industry affiliates and media to get an early look before the show opens to the public this weekend. For the second year in a row, NAIAS highlighted the mobility sector’s potential business models and offered glimpses of how the trillion-dollar market … Continue reading “Detroit Auto Show Puts Big Focus on Mobility Technologies, Startups”
In “Age of Amazon,” All Retailers Are Tech Companies, Even Walmart
Technology took center stage this week as the nation’s retailers made their annual pilgrimage to New York. At the National Retail Federation’s three-day conference, which ended Tuesday, the discussion centered on both the disruptive effects and potential promise of e-commerce technologies. Kate Ancketill, the CEO of GDR Creative Intelligence, a retail trends consultancy, said retailers … Continue reading “In “Age of Amazon,” All Retailers Are Tech Companies, Even Walmart”
Three Takes on How Tech Can Rebuild Trust in 2018
Rounding out our series of perspectives and prognostications for the new year, we asked people in Xconomy’s network about trust in the tech industry. Specifically, if you think public perception about the tech industry took a turn for the worse in 2017, what should the industry do to rebuild trust in 2018? Here are responses … Continue reading “Three Takes on How Tech Can Rebuild Trust in 2018”
Google Launches a MOOC to Train Entry-Level IT Support Staffers
Big tech companies like Google are facing heat for developing disruptive technologies that can make traditional jobs obsolete. But at the same time, the tech industry is growing fast, and is eager to recruit workers outside the sector to fill entry-level jobs that often go begging, a Google executive says. Google is betting on online … Continue reading “Google Launches a MOOC to Train Entry-Level IT Support Staffers”
Merck Is Latest to Tout Success as Lung Cancer Drug Combos Plow Forward
This morning has brought another positive development in the rapidly changing treatment landscape for lung cancer. Merck reported that a combination regimen utilizing its immunotherapy drug, pembrolizumab (Keytruda), has succeeded in a confirmational Phase 3 study. Merck (NYSE: [[ticker:MRK]]) said that a trial in which 614 patients just diagnosed with non-small cell lung cancer got … Continue reading “Merck Is Latest to Tout Success as Lung Cancer Drug Combos Plow Forward”
A.I. Could Be Double-Edged Sword for Cybersecurity Industry in 2018
It’s no secret that artificial intelligence is becoming increasingly influential in cybersecurity—on both sides of the battlefield. And while it’s no secret, it should also be no surprise. Although, in many ways, A.I. is still in its infancy, with nearly every industry investing in the space and many companies already benefiting from automation and business … Continue reading “A.I. Could Be Double-Edged Sword for Cybersecurity Industry in 2018”
Boston E-Commerce Data Firm True Fit Snags $55M in New Funds
True Fit, a Boston-area startup that is creating “a genome for apparel and footwear,” announced this morning a Series C investment of $55 million. Georgian Partners led the funding round with participation from existing investors Jump Capital, Signal Peak Ventures, and Intel Capital, along with new investor Cross Creek Capital. “We’ve built a preference map … Continue reading “Boston E-Commerce Data Firm True Fit Snags $55M in New Funds”
Why Human Extinction Needs a Marketing Department
Experts at Oxford University and elsewhere have estimated that the risk of a global human extinction event this century—or at least of an event that wipes out 10 percent or more of the world’s population— is around 1 in 10. The most probable culprits sending us the way of the dinosaur are mostly anthropogenic risks, … Continue reading “Why Human Extinction Needs a Marketing Department”
Spark CEO Marrazzo on Gene Therapy Pricing & Paving the Way for the Field
[Updated, 1/13/17, 11:15 a.m. ET] After decades of research and scientific ups and downs, the first U.S. gene therapy, a single, long-lasting treatment called voretigene neparvovec (Luxturna) for rare, inherited blindness, is now on the market. But the commercial challenge facing its developer, Spark Therapeutics, is daunting. Can Spark lead the way in showing that … Continue reading “Spark CEO Marrazzo on Gene Therapy Pricing & Paving the Way for the Field”
Bio Roundup: #JPM18, Axovant’s Fall, CRISPR Caveat, Impact M&A & More
Have you gotten your flu shot yet this year? This winter’s flu season is shaping up to be a particularly nasty one and the Centers for Disease Control and Prevention this week upped its tally of states reporting widespread flu activity to 46. Flu awareness was top of mind at the J.P. Morgan Healthcare Conference … Continue reading “Bio Roundup: #JPM18, Axovant’s Fall, CRISPR Caveat, Impact M&A & More”
E-Commerce Firm Black Rifle Coffee Has Expansion in Its Sights
There wasn’t a lot that Evan Hafer could control on his half-dozen deployments to Iraq and Afghanistan as a Green Beret and CIA contractor. But the one thing he could do something about was the terrible coffee. “I started roasting my own coffee and taking it with me overseas,” he says. “I set up a … Continue reading “E-Commerce Firm Black Rifle Coffee Has Expansion in Its Sights”
Notes From the JPM ’18 Vortex: Gene Therapy’s Reckoning and Lonely Cabs
The annual J.P. Morgan Healthcare conference in San Francisco winds down today, meaning the remaining stragglers are either presenting to half-empty rooms or headed back to colder climes. Compared to a 2017 full of scientific milestones—FDA approvals of gene and cell therapies, a clinical victory for RNA interference, and more—the meeting itself was rather dull. … Continue reading “Notes From the JPM ’18 Vortex: Gene Therapy’s Reckoning and Lonely Cabs”
Loving LTE or Tossing the Smartphone: Tech Leaders Share New Habits
We asked people around the Xconomy network whether their personal patterns of technology usage changed much in response to something that happened in 2017, as part of our series of perspectives and predictions marking the start of a new year. Here are answers from Ben Gilbert, co-founder of Pioneer Square Labs in Seattle and interim … Continue reading “Loving LTE or Tossing the Smartphone: Tech Leaders Share New Habits”
As VC Moves Downstream, Spearhead Seeds New Angel Investors
The U.S. venture capital industry just capped off one of its biggest years ever. But look closer, and the current funding environment could spell trouble for the next wave of high-tech startups. The $84.2 billion invested in 2017 is a level of VC funding unseen since the dot-com era of the early 2000s, according to … Continue reading “As VC Moves Downstream, Spearhead Seeds New Angel Investors”
Eye Drug Delivery Firm Eyenovia Sets IPO Range as Plans Come Into Focus
Eyenovia, a startup that has adapted an inkjet printing technique into a way to deliver drugs to the eye, is providing more clarity on an initial public offering intended to finance late-stage clinical testing of its technology. New York-based Eyenovia plans to offer 2.73 million shares priced between $10 and $12 each, according to an … Continue reading “Eye Drug Delivery Firm Eyenovia Sets IPO Range as Plans Come Into Focus”
Blockchain and Cryptocurrencies: ScaleVP Comments From the Sidelines
Just because an investor isn’t putting money into blockchain technologies or cryptocurrencies yet, it doesn’t mean they’re not watching these emerging phenomena with interest. Andy Vitus, a partner at Silicon Valley venture capital firm Scale Venture Partners, has been keeping his eye on the potential uses of the blockchain, which is best known as the … Continue reading “Blockchain and Cryptocurrencies: ScaleVP Comments From the Sidelines”
Dentsu Aegis Buys HelloWorld, formerly ePrize, for an Undisclosed Sum
When we first visited the headquarters of HelloWorld in 2012, the company was still called ePrize and was swiftly outgrowing its Pleasant Ridge, MI, digs. After several years of exponential growth, HelloWorld announced last week that it has been acquired by Dentsu Aegis Network, based in the U.K. The financial terms of the deal were … Continue reading “Dentsu Aegis Buys HelloWorld, formerly ePrize, for an Undisclosed Sum”
After Boom Years, Starburst and Podium May Signal Big Data’s Future
It seems like ancient history now, but “big data” was once a hot field with startups, investors, and big companies all buzzing with hype. Then the tech industry moved on, and marketers crowned data science and machine learning the Next Big Things (at least until blockchain takes over). Of course, big data never really went … Continue reading “After Boom Years, Starburst and Podium May Signal Big Data’s Future”