In an environment of microscopic interest rates, it is particularly interesting to read the Preqin 2Q17 Quarterly Update, which exhaustively tracks all things private equity and venture capital. At the end of June 2017 there were 1,998 funds in market raising a total of $676 billion – a staggering sum – indicative of global investors … Continue reading “Dramatic Capital Inflows Continue in 2Q17… Trouble Ahead?”
Category: New York
San Antonio Biomedical Group Awards Miami Healthcare Researcher
San Antonio — The San Antonio bioscience advocacy group BioMed SA is giving its annual innovation award to Leonard Pinchuk, a scientific researcher in Miami who has co-founded or incubated 10 companies. BioMed SA says it picked Pinchuk because of his work innovating cardiology and ophthalmology products. Pinchuk runs an incubator in Miami called Innovia, which … Continue reading “San Antonio Biomedical Group Awards Miami Healthcare Researcher”
With FDA Nod, Agios, Celgene Get Speedy OK For Blood Cancer Drug
[Updated, 2:10 pm ET, see below] The FDA approved a new blood cancer drug today. Called enasidenib (Idhifa), it’s the latest therapy sold by Celgene, the big cancer drugmaker from Summit, NJ. But the news is significant for other reasons. The drug is the first product to come from the labs of Agios Pharmaceuticals (NASDAQ: … Continue reading “With FDA Nod, Agios, Celgene Get Speedy OK For Blood Cancer Drug”
Homology Med Bags $83.5M More, Fueling Push For Gene Editing Twist
One day after the release of a Nature Medicine paper warning of the potential hazards of testing CRISPR-Cas9 gene editing in humans, Homology Medicines, a startup advancing a different genetic surgery technique, has just grabbed a big round of funding to make its own clinical push. Homology, of Bedford, MA, wrapped up an $83.5 million … Continue reading “Homology Med Bags $83.5M More, Fueling Push For Gene Editing Twist”
Oil and Gas Networking Website Oilpro Says It’s Shutting Down
Houston—Oilpro, a networking and social media website geared to the oil and gas industry, said Monday it is shutting down operations. No reason was given for the closure. In an e-mail to members, Oilpro told them they could download any content on their profiles until Wednesday, Aug. 2, after which the site will be taken … Continue reading “Oil and Gas Networking Website Oilpro Says It’s Shutting Down”
Disrupt Indy: Can Data Forge the Path to Inclusive Tech Ecosystems?
U.S. tech startups and investment firms have long been thought of as the domain of white men—because historically, they have been. Although that may be changing as more big tech corporations are pressured to release their diversity statistics and change hiring policies, one only needs to look at the statistics to confirm that women, members … Continue reading “Disrupt Indy: Can Data Forge the Path to Inclusive Tech Ecosystems?”
A.I. Chip Race Redraws Competitive Map Among Tech Firms, Chipmakers
It’s been a long time since tech’s biggest companies could be sorted into discrete buckets according to the products they pioneered—-Google, the search software giant; Apple, the computer and mobile device innovator; e-commerce leader Amazon; business software stalwart Microsoft; and social media engine Facebook. Since then, these major innovators have built on a common resource—increasingly … Continue reading “A.I. Chip Race Redraws Competitive Map Among Tech Firms, Chipmakers”
Petra Pharma Names Brian O’Callaghan CEO and Fills CSO, CFO Posts
Brian O’Callaghan has been appointed CEO of Petra Pharma, a New York biotech developing drugs to treat cancer and metabolic diseases. O’Callaghan’s experience includes senior positions at Pfizer (NYSE: [[ticker:PFE]]), Novartis (NYSE: [[ticker:NVS]]), Merck Serono, NPS, and Covance. Petra also named David McElligott chief scientific officer, and David Renas chief financial officer. The company, which … Continue reading “Petra Pharma Names Brian O’Callaghan CEO and Fills CSO, CFO Posts”
Bio Roundup: GOP Drama, Immunotherapy Setbacks, Pharma Revamps
Two failed cancer studies this week provided a fresh reminder how little researchers and clinicians understand about immunotherapy’s vagaries: why it works for some people and not for others. The results, in lung cancer and head-and neck cancer, add to recent failures in multiple myeloma and bladder cancer and splash cold water on a sector … Continue reading “Bio Roundup: GOP Drama, Immunotherapy Setbacks, Pharma Revamps”
DataCamp Nabs $4M for Data Science Courses, Moves to NY
Data scientists remain in high demand. But these days, many types of professionals can boost their career prospects if they have at least a basic level of “data literacy,” says Jonathan Cornelissen. That’s part of the reason why he says his online education company, DataCamp, has been growing over the past couple of years. DataCamp, … Continue reading “DataCamp Nabs $4M for Data Science Courses, Moves to NY”
Immunotherapy Shakeup: AstraZeneca Inks Merck Deal as Drug Combo Fails
Despite all the great progress made harnessing the immune system to fight cancer, there is still much work to be done to maximize its potential. The latest evidence: disappointing results today from a roughly 1,100-patient study called “Mystic,” a highly anticipated trial from AstraZeneca testing a combination of immunotherapies in newly diagnosed lung cancer patients. … Continue reading “Immunotherapy Shakeup: AstraZeneca Inks Merck Deal as Drug Combo Fails”
Abeona Therapeutics Appoints Juan Ruiz Chief Medical Officer
Juan Ruiz has joined New York gene therapy developer Abeona Therapeutics (NASDAQ: [[ticker:ABEO]]) as chief medical officer. Ruiz’s experience includes executive positions at Lykera Biomed and Digna Biotech, both Spain-based companies. Abeona’s lead drugs are gene therapy candidates for the rare enzyme deficiency disorder Sanfilippo syndrome type A, and epidermolysis bullosa, which is a rare … Continue reading “Abeona Therapeutics Appoints Juan Ruiz Chief Medical Officer”
Biogen, Opening Bottlenecks, Sees Spine Drug Sales, Shares Rise
Another quarter is in the books for Biogen’s nusinersen (Spinraza), the first ever approved drug for spinal muscular atrophy. And despite the drug’s high price and the logistical bottlenecks involved in rolling it out in treatment centers across the country, the Cambridge, MA, company is starting to gain traction. Biogen (NASDAQ: [[ticker:BIIB]]) reported $203 million … Continue reading “Biogen, Opening Bottlenecks, Sees Spine Drug Sales, Shares Rise”
Merck Drug Shows No Life-Extending Benefit in Head-and-Neck Cancer
The first immunotherapy approved in the U.S. to treat head and neck cancer has failed a big test, but it’s unclear if the FDA will exercise its right to pull it from the market. Merck (NYSE: [[ticker:MRK]]) announced late Monday that its blockbuster cancer drug pembrolizumab (Keytruda) did not meet its main goal of helping … Continue reading “Merck Drug Shows No Life-Extending Benefit in Head-and-Neck Cancer”
$200M Invested For a Global Network of Indoor Farms? That’s Plenty
Agtech startup Plenty has reeled in $200 million in financing as the company presses forward on its plans to build a global network of indoor vertical farms. Softbank Vision Fund of Japan led the Series B funding round for South San Francisco, CA-based Plenty. The round included investments from affiliates of Louis Bacon, the founder … Continue reading “$200M Invested For a Global Network of Indoor Farms? That’s Plenty”
Bio Roundup: Obamacare Persists, FDA Approves, Vertex Wows & More
The attempt to repeal and replace the Affordable Care Act took a major hit this week from Senate GOP holdouts who said the Better Care Reconciliation Act either tore down Medicaid too much or left too much of the ACA in place. A straight-up repeal, floated by Senate majority leader Mitch McConnell, was also shot … Continue reading “Bio Roundup: Obamacare Persists, FDA Approves, Vertex Wows & More”
New Frontier: Space Center Crowdfunds for Mission Control Facelift
[Updated 7/25/17 5:18 pm. See below.] Houston—Houston, Mission Control has a problem. The storied control room at NASA’s Johnson Space Center in Houston—recognizable to many of us from 1960s news clips of the dawn of the Space Age––is in need of a face-lift. And so, Space Center Houston, the visitor’s center for the JSC, has turned … Continue reading “New Frontier: Space Center Crowdfunds for Mission Control Facelift”
Christopher Ahlberg: The Full Xconomy Voices Interview
The second episode of Xconomy’s new podcast, Xconomy Voices, features Recorded Future co-founder and CEO Christopher Ahlberg. His Somerville, MA-based cybersecurity company monitors both the public, visible Web and the Internet’s darker corners for “threat intelligence” that can help its clients prepare for, and fend off, cyber attacks. Ahlberg’s background in data analytics and his … Continue reading “Christopher Ahlberg: The Full Xconomy Voices Interview”
A.I. Prizes, Coming to Healthcare, Hit $1M Mark in Cancer Contests
This story is part of an Xconomy series on artificial intelligence in healthcare. Some of the other stories cover a genomics hackathon, A.I. and radiology, and the impact on doctors and patients. In the classic 1967 film “The Graduate,” Dustin Hoffman’s just-out-of-college character gets one word of career advice from a family friend: plastics. In … Continue reading “A.I. Prizes, Coming to Healthcare, Hit $1M Mark in Cancer Contests”
Xconomy Voices, Episode 2: Christopher Ahlberg of Recorded Future
On our new Xconomy Voices podcast, we find the smartest, most successful entrepreneurs and innovators in Xconomy’s network of cities and regions, and we ask them to open up about what they’re working on, what they’re excited about, and why they think their company, product, or idea is going to take the world by storm. … Continue reading “Xconomy Voices, Episode 2: Christopher Ahlberg of Recorded Future”
Google Glass Upgrades to Business Class, With Enterprise Edition
When Ian Shakil co-founded a company in 2012 to deploy Google Glass in doctor’s offices, his team had never possessed a set of the computer-enhanced eyewear that Google debuted that year. Google wasn’t yet selling the augmented reality glasses, which were being touted as the next big thing in consumer electronics, not as business tools. … Continue reading “Google Glass Upgrades to Business Class, With Enterprise Edition”
What Internet Pioneer Vint Cerf Sees in San Diego (and Other Hubs)
The Internet pioneer Vinton Cerf came to San Diego recently on an unusual quest—to meet with dozens of local technology leaders and assess what the region has to offer in terms of innovation. It was Veni, Vidi, Vinti. He came. He saw. He Cerfed. The visit was unusual in part because of Cerf himself. As … Continue reading “What Internet Pioneer Vint Cerf Sees in San Diego (and Other Hubs)”
NewStore Rings Up $50M to Help Retailers Win “Mobile Influence”
Online shopping is going to become a “mobile-only world,” says Stephan Schambach. The entrepreneur has been building e-commerce companies since the early days of the Web in the early 1990s. But with the exploding popularity of smartphones, the day is coming when “we are going to look at desktop commerce with a sense of nostalgia,” … Continue reading “NewStore Rings Up $50M to Help Retailers Win “Mobile Influence””
Y Combinator Mulls New Startup App—Rating VCs on Sexual Harassment
Y Combinator, a Silicon Valley hub that incubates and funds scores of tech startups every year, is entering the fray over sexual harassment in the venture capital industry. YC has opened an online reporting mechanism that women can use to identify venture capital firm partners or executives who have pressured them for sex or groped … Continue reading “Y Combinator Mulls New Startup App—Rating VCs on Sexual Harassment”
Amazon Alexa Accelerator Begins in Seattle With Nine Startups
Amazon and Techstars announced the nine companies selected for the Amazon Alexa Accelerator, which began its initial 13-week program in Seattle Monday. Why it matters: Seattle is already a hub of artificial intelligence research and commercialization activity at technology giants including Microsoft and Amazon, and research institutions such as the University of Washington and the … Continue reading “Amazon Alexa Accelerator Begins in Seattle With Nine Startups”
Techstars Mobility Announces 2017 Class, New Industry Partners
The Detroit-based Techstars Mobility program announces its third cohort today, and managing director Ted Serbinski says it’s the most international class yet with startups from five countries. There are also new corporate partners coming on board and additions to the accelerator’s in-house support staff, including two people who have relocated to the Motor City from … Continue reading “Techstars Mobility Announces 2017 Class, New Industry Partners”
Bio Roundup: PDUFA Progress, BCRA Redux, CAR-T Thumbs Up, & More
Government and industry are rife with awkward acronyms. Take PDUFA, for example. First passed in 1992, the Prescription Drug User Fee Act allows the FDA to collect fees from biopharmaceutical companies when they apply for drug approval; those funds are designated for the regulator’s drug evaluation work. Congress must reauthorize the law every five years … Continue reading “Bio Roundup: PDUFA Progress, BCRA Redux, CAR-T Thumbs Up, & More”
DraftKings and FanDuel Abandon Merger After FTC Challenge
The DraftKings-FanDuel merger is dead. The two online fantasy sports companies said Thursday they have terminated their agreement to join forces. The decision comes a few weeks after the Federal Trade Commission filed a complaint in federal district court attempting to block the deal over concerns that it would create a near-monopoly in the U.S. … Continue reading “DraftKings and FanDuel Abandon Merger After FTC Challenge”
Bevi Slurps $16.5M to Bring “Smart Water Cooler” to More Offices
Add high-tech, healthy beverage dispensers to the list of trendy office perks. About three years ago, Boston-based startup Bevi launched its tech-enabled take on the traditional water cooler by installing an initial batch of about a dozen of its machines at local offices. Since then, the company says around 1,000 of the Internet-connected beverage kiosks … Continue reading “Bevi Slurps $16.5M to Bring “Smart Water Cooler” to More Offices”
Cargo Helps Rideshare Drivers Run Turnkey Mobile Convenience Stores
Last month, when Intel released its report detailing the emerging “passenger economy,” it estimated that the value of the associated goods and services would be a stunning $7 trillion by 2050. Intel defines the passenger economy as what will happen when self-driving vehicles and ridesharing services turn drivers into idle passengers. A captive audience with … Continue reading “Cargo Helps Rideshare Drivers Run Turnkey Mobile Convenience Stores”
NEA Leads $42M Round For AI-Enhanced Freight Booking Startup Transfix
Transfix, a New York tech startup with an online marketplace that organizes freight truck shipments, says it has scored $42 million in a Series C financing round led by New Enterprise Associates (NEA). Transfix, founded in 2013, relies on machine learning and other data analytics tools to distinguish itself in the crowded arena of freight … Continue reading “NEA Leads $42M Round For AI-Enhanced Freight Booking Startup Transfix”
Unanimous Advice To FDA: Approve Landmark CAR-T Cancer Therapy
The first ever approval of a new kind of cancer immunotherapy called CAR-T is one step closer. A 10-member panel of doctors and researchers who advise the Food and Drug Administration recommended with a rare unanimous vote that the agency approve a treatment for kids and young adults with a severe form of leukemia who … Continue reading “Unanimous Advice To FDA: Approve Landmark CAR-T Cancer Therapy”
Accenture Acquires Austin Data Analytics Company Clearhead
Austin—Clearhead, which helps companies “personalize” digital tools used by their customers, has been acquired by Accenture (NYSE: [[ticker:ACN]]). The Austin, TX-based company has developed data analytics software that helps its customers, who are companies such as USAA and CVS Pharmacy, improve and personalize their digital tools aimed at end users, such as online shoppers. Clearhead … Continue reading “Accenture Acquires Austin Data Analytics Company Clearhead”
Sanofi Shores Up Flu Vaccine Business With Protein Sciences Deal
With influenza season a few months away, Sanofi is giving its vaccine operations a shot in the arm by acquiring Protein Sciences, a company that has a commercial vaccine, Flublok, and manufactures it using genetic engineering and cell culture instead of the traditional method that relies on millions of chicken eggs. According to the companies, … Continue reading “Sanofi Shores Up Flu Vaccine Business With Protein Sciences Deal”
VC “Self-Correction” Continues in Second Quarter, and Top 10 Deals
[Updated 7/12/17, 8:38 am, to add MoneyTree data. See below.] U.S. venture capital investments are showing more signs of returning to steady levels. Investors pumped $21.78 billion into 1,958 companies in the second quarter, according to data from the quarterly Venture Monitor report from Seattle-based PitchBook and the National Venture Capital Association (NVCA). The number … Continue reading “VC “Self-Correction” Continues in Second Quarter, and Top 10 Deals”
Before Key Meeting, FDA Stresses Risks of Novartis CAR-T Cancer Therapy
Two days before a panel of the FDA’s outside advisors grill Novartis about its groundbreaking cell therapy under review, agency staffers released their own assessment of the product, which now goes by the name tisagenlecleucel. If approved for kids and young adults with acute lymphoblastic leukemia, or ALL, it would likely be the first so-called … Continue reading “Before Key Meeting, FDA Stresses Risks of Novartis CAR-T Cancer Therapy”
O’Connor Resigns From Advaxis, Lombardo Named Interim CEO
Daniel O’Connor has resigned from his positions as CEO, president, and board member of Princeton, NJ-based Advaxis (NASDAQ: [[ticker:ADXS]]). No reason for O’Connor’s resignation was given in a company news release or documents filed with securities regulators. O’Connor had served as CEO of Advaxis, a cancer immunotherapy developer, since 2013. Advaxis chief business officer Anthony … Continue reading “O’Connor Resigns From Advaxis, Lombardo Named Interim CEO”
Bio Roundup: BCRA Fireworks, Shkreli Muzzled, Endo Pulls Drug & More
The Fourth of July was this week, but members of Congress didn’t need to crane their necks skyward to see fireworks. Senators returned to their districts, where local news offered blistering headlines about the potential impact of the Republican plan to replace the Affordable Care Act. Independence Day typically lets lawmakers mingle with constituents at … Continue reading “Bio Roundup: BCRA Fireworks, Shkreli Muzzled, Endo Pulls Drug & More”
With Triage System, Companies See Toehold for A.I. in Radiology
This story is part of an ongoing Xconomy series on A.I. in healthcare. Other stories cover big-company efforts, a genomics hackathon, the impact on doctors and patients, and business models of A.I. in healthcare. Years ago, radiology underwent a radical transformation with the shift from film to widespread use of digital image displays. That set … Continue reading “With Triage System, Companies See Toehold for A.I. in Radiology”
Celgene Builds Up Cancer Drug Pipeline With BeiGene Deal
Celgene wants a shot at a bigger slice of the global cancer drug market, and the company is turning to China to do it. Summit, NJ-based Celgene has reached a deal with BeiGene, based in Beijing, for rights to a cancer immunotherapy still in clinical trials. The deal announced late Wednesday calls for Celgene (NASDAQ: … Continue reading “Celgene Builds Up Cancer Drug Pipeline With BeiGene Deal”
5 Privacy Worries on 4 Wheels: Staying Safe in the Connected Car Era
As modern vehicles are upgraded to include Internet-enabled technologies designed to access, store, and transmit data for entertainment and safety purposes, consumers are presented with a double-edged sword. On one hand, these connected systems provide important convenience benefits for consumers, but on the flip side, motor vehicles are being exposed to a growing number of … Continue reading “5 Privacy Worries on 4 Wheels: Staying Safe in the Connected Car Era”
FDA Halts Merck’s Multiple Myeloma Trials After Patient Deaths
Nearly a month after Merck paused enrollment in three clinical trials in multiple myeloma to gather more information about patient deaths, the FDA has now put a stop to those studies altogether. Merck (NYSE: [[ticker:MRK]]) said Wednesday that the FDA has placed a complete hold on two Phase 3 trials testing its immunotherapy drug pembrolizumab … Continue reading “FDA Halts Merck’s Multiple Myeloma Trials After Patient Deaths”
San Antonio Medical Device Contractor NuPak Sold to NJ-Based Katena
San Antonio—NuPak Medical, a contract manufacturer of medical devices, has been purchased for an undisclosed amount by its largest customer, Denville, New Jersey-based Katena Products. The news of the acquisition was first reported by the San Antonio Business Journal. NuPak, which was founded in San Antonio in 1997, manufactures medical products such as dental implants, … Continue reading “San Antonio Medical Device Contractor NuPak Sold to NJ-Based Katena”
What’s the Business Model for Artificial Intelligence in Healthcare?
This story is part of an ongoing Xconomy series on A.I. in healthcare. Other stories cover big-company efforts, a genomics hackathon, and the impact on doctors and patients. These are heady times for using artificial intelligence to extract insights from healthcare data—in particular, from the tidal wave of information coming out of fields like genomics … Continue reading “What’s the Business Model for Artificial Intelligence in Healthcare?”
Bio Roundup: Senate Drama, A.I. Stories, Data Dives, Shkreli & More
There is no Obamacare replacement, at least not as of this writing. The Senate Republicans are fractured, with a handful of conservatives and moderates each giving a cold shoulder to their chamber’s version of healthcare reform, the Better Care Reconciliation Act. The nonpartisan Congressional Budget Office report Monday put the bill’s potential effects in stark … Continue reading “Bio Roundup: Senate Drama, A.I. Stories, Data Dives, Shkreli & More”
After Sale to Accenture, Intrepid Eyes Next Chapter in Mobile Tech
When Mark Kasdorf started his software design and development shop, Intrepid Pursuits, in 2010, mobile apps were basically a box for businesses to check off on their corporate to-do list. “It kind of felt like everyone needed an app, and no one knew why,” Kasdorf recalls. “These people within larger companies vaguely remembered messing up” … Continue reading “After Sale to Accenture, Intrepid Eyes Next Chapter in Mobile Tech”
New Study: DNA Tests For Healthy People Have “Uncertain Value”
Genome sequencing is becoming more common for people diagnosed with cancer. Should it become part of a healthy person’s checkup, too? A new study published Monday in the Annals of Internal Medicine questions the practicality of making DNA tests standard for people who don’t have a cancer diagnosis or aren’t trying to identify a mysterious … Continue reading “New Study: DNA Tests For Healthy People Have “Uncertain Value””
U.S. IPOs Surge Amid Nettlesome Risks; Top 10 Deals So Far in 2017
[Updated 6/27/17 5:00 pm. See below.] Improving economic fundamentals are stoking the IPO pipeline in the United States and elsewhere, according to a report issued Tuesday by the global consultant and accounting firm EY. Eighty companies raised a total of $22 billion on U.S. exchanges during the first half of 2017, according to the report … Continue reading “U.S. IPOs Surge Amid Nettlesome Risks; Top 10 Deals So Far in 2017”
Fixing Uber: An Open Letter to the Next CEO
For starters, trust that my motives come from a good place. To date I have given such advice to only three CEOs—Ivan Seidenberg when he was CEO of Verizon, Apple CEO Tim Cook, and most recently, your predecessor. Not sure they ever read any of it but I do this when I get deeply inspired, … Continue reading “Fixing Uber: An Open Letter to the Next CEO”
Boston Is Arguably the Heart of Biotech. But Who Makes It So? Have Your Say.
By the end of this year, for the first time, patients with certain deadly types of blood cancer might have a new option, CAR-T cell therapy, to prolong their life. Immunotherapy could further entrench itself as a mainstay of cancer treatment. Newer drugmaking methods—RNA interference and gene therapy—could get their first ever FDA reviews. Multiple … Continue reading “Boston Is Arguably the Heart of Biotech. But Who Makes It So? Have Your Say.”