This story is part of an ongoing series on A.I. in healthcare. A companion piece today looks at the question of when A.I. might replace doctors. Artificial intelligence has a long road ahead to reach the front lines of healthcare—but it’s coming. Big companies and startup investors are pouring billions of dollars into A.I. technologies for … Continue reading “GE, IBM Race to Deliver on A.I. Hype in Healthcare”
Category: New York
When Will A.I. Replace Doctors?
This story is part of an ongoing series on A.I. in healthcare. A companion piece today looks at advances from GE, IBM, and other competitors. Even as big companies race to build up their artificial intelligence capabilities, the prospect of using A.I. technologies in healthcare raises more questions than answers. Want more AI, machine learning, and drug … Continue reading “When Will A.I. Replace Doctors?”
Purdue Pharma’s Mark Timney Leaving, Craig Landau Named CEO
Purdue Pharma announced that CEO Mark Timney is leaving “to pursue other career opportunities” and another executive within the Stamford, CT-based drug company is taking his place. Craig Landau, a 14-year Purdue veteran, is now CEO. Landau had held several executive and senior management roles in the company, including serving as chief medical officer. In … Continue reading “Purdue Pharma’s Mark Timney Leaving, Craig Landau Named CEO”
Startup Founder’s Quest for Cure Leads to Genomics Hackathon at Google
This story is part of a series on A.I. in healthcare. Onno Faber was a member of Silicon Valley’s happy breed of tech startup founders when he was diagnosed with a rare genetic condition that can come with dire health damage, but few treatments. Faber responded with entrepreneurial zeal, exploring whether Silicon Valley’s mastery of algorithms … Continue reading “Startup Founder’s Quest for Cure Leads to Genomics Hackathon at Google”
Bio Roundup: Senate Trumpcare, FDA On Cancer, Alzheimer Review & More
All eyes are on the nation’s capital this week, where the Senate released its version of the American Health Care Act (now called the Better Care Reconciliation Act) and the White House worked on an executive order to address drug prices. No one knows how to pay for high-priced medicines that could bring long-term relief … Continue reading “Bio Roundup: Senate Trumpcare, FDA On Cancer, Alzheimer Review & More”
Mary Lou Jepsen: The Full Xconomy Voices Interview
For the inaugural episode of our new podcast, Xconomy Voices, we chose to speak with Bay Area entrepreneur and executive Mary Lou Jepsen. She leads a startup called Openwater, which is developing a new kind of wearable imaging device that might one day enable communication by thoughts alone. Of course, there are nearer-term goals as … Continue reading “Mary Lou Jepsen: The Full Xconomy Voices Interview”
Introducing Xconomy Voices (Podcast), Episode 1: Mary Lou Jepsen
It’s always been Xconomy’s mission to reach audiences—both here on our website, and at our many live events around the country—with deep insights into the innovation process, divined from experts embedded in the world’s most important hubs of high-tech entrepreneurship. And now we’re doing that in one more medium: podcasting. I’m thrilled to be collaborating … Continue reading “Introducing Xconomy Voices (Podcast), Episode 1: Mary Lou Jepsen”
Repare Nabs $68M To Find Synthetic Lethal Cancer Targets Beyond PARP
The concept of synthetic lethality has been around for decades, but only recently has it been exploited for cancer therapy. The idea is to hit cancer cells in at least two places at once; the trick is to find the right combination of genetic mutations that make the cells vulnerable. The newest company aiming to … Continue reading “Repare Nabs $68M To Find Synthetic Lethal Cancer Targets Beyond PARP”
Syntimmune Snares $50M to Test Autoimmune Drug in Two Rare Diseases
Although antibodies play a key role in neutralizing invading bacteria and viruses, sometimes these protective proteins can turn against the body’s own tissues, sparking an autoimmune disorder. Syntimmune’s leaders believe their company has found a way to block the immune system’s attack on the body. And now the biotech has $50 million to advance its … Continue reading “Syntimmune Snares $50M to Test Autoimmune Drug in Two Rare Diseases”
Alzheimer’s Drug Pipeline Analysis: Have We Hit Peak Amyloid?
A 2014 report provided a stark frame of reference for the challenge of fighting Alzheimer’s disease, showing that 99.6 percent of all drugs in the field had failed in one way or another. Led by Jeffrey Cummings, director of the Cleveland Clinic’s Lou Ruvo Center for Brain Health, the same authors recently published a new … Continue reading “Alzheimer’s Drug Pipeline Analysis: Have We Hit Peak Amyloid?”
Expanding Teladoc Adds Network, Tech With $440M Best Doctors Deal
Dallas—In Teladoc’s acquisition of Boston-based Best Doctors—a $440 million cash-and-stock deal that the companies announced Monday—Teladoc (NYSE: [[ticker:TDOC]]) is gaining a business that lets it offer more specialization in its telemedicine services. Best Doctors connects individuals who have tough decisions to make about treatments—or who want a second opinion about a diagnosis—with top-rated doctors worldwide. … Continue reading “Expanding Teladoc Adds Network, Tech With $440M Best Doctors Deal”
FTC Challenges DraftKings-FanDuel Merger Over Monopoly Concerns
[Updated 6/20/17, 10:20 pm. See below.] The Federal Trade Commission is attempting to block the proposed merger of DraftKings and FanDuel over concerns that it would create a near-monopoly in the U.S. market for paid daily fantasy sports contests. The FTC, along with the offices of the attorneys general in California and Washington, DC, said … Continue reading “FTC Challenges DraftKings-FanDuel Merger Over Monopoly Concerns”
Open Letter to Travis Kalanick
For starters, this is NOT a Travis-bashing letter or an Uber-bashing one either, which would be way too easy. Besides, I already did the latter in my Nothing Super About Uber piece over two-and-a-half years ago when I questioned Uber’s then over-hyped valuation. Given current events, I’m pretty sure the next funding round will be … Continue reading “Open Letter to Travis Kalanick”
Bio Roundup: Trumpcare Is Mean, SCOTUS Says Go, Merck’s Myeloma No
What exactly does the American Health Care Act, the Republican proposal to replace Obamacare, currently look like? Few people know, because the Senate version is being negotiated behind closed doors in Washington D.C. without any public hearings. We do know President Trump now thinks the version of the AHCA that squeaked through the House is … Continue reading “Bio Roundup: Trumpcare Is Mean, SCOTUS Says Go, Merck’s Myeloma No”
Patient Network Group Says Majority of Members Want To Keep Obamacare
A U.S. patient networking group called PatientsLikeMe has dipped its toe in the waters of public opinion, asking its members what they think of the healthcare policy fight. There are many caveats, but the numbers trend in the same direction that other national polls have found—a shift towards more acceptance of the Affordable Care Act, … Continue reading “Patient Network Group Says Majority of Members Want To Keep Obamacare”
Athenex IPO Raises $66M to Fund Clinical Trials for Cancer Drugs
The IPO window is still open for clinical-stage drug companies, and Athenex is now the latest one to pass through it. The cancer drug developer raised $66 million through a public stock offering on Wednesday, funding that the company will devote mostly to a pair of cancer drugs in late-stage clinical development. Athenex priced its … Continue reading “Athenex IPO Raises $66M to Fund Clinical Trials for Cancer Drugs”
Bowery Picks Up $20M to Expand Indoor Farming in the U.S. and Beyond
Indoor farming is catching on in more urban areas, giving city dwellers more choices for locally grown produce. Agtech startup Bowery aims to make its leafy greens part of that retail mix, and it has raised $20 million in new funding to support its expansion. General Catalyst and GGV Capital co-led the Series A round, … Continue reading “Bowery Picks Up $20M to Expand Indoor Farming in the U.S. and Beyond”
Data Collective, Other Top AI VCs, Pour $102M Into Element AI Series A
[Updated 6/14/17, 1:45 pm. See below.] Canada’s Element AI, publicly launched in October, announced today it has raised US$102 million in an outsized Series A financing round seen by experts as a sign that artificial intelligence is ready to solve real-world business problems. The young Montreal-based company, whose staff of AI engineers collaborates with academic … Continue reading “Data Collective, Other Top AI VCs, Pour $102M Into Element AI Series A”
Amgen’s Heart Data Don’t Impress Drug-Price Evaluation Group
The drug-price evaluator that the drug companies love to hate has weighed in again, this time casting a skeptical eye on the price of a next-generation heart medicine from Amgen (NASDAQ: [[ticker:AMGN]]). The group known as ICER, which stands for Institute for Clinical and Economic Review, released a report today that said Amgen’s evolocumab (Repatha) … Continue reading “Amgen’s Heart Data Don’t Impress Drug-Price Evaluation Group”
Alexandria Debuts NY’s Latest Bio Incubator With 13 Startups in Tow
A new startup incubator has just opened in Manhattan this morning, adding to a growing list of facilities meant to help support seedling New York City biotechs. LaunchLabs, first announced by Alexandria Real Estate Equities a year ago, officially opened its doors and revealed the 13 startups that will grow there. LaunchLabs is a 15,000-square-foot … Continue reading “Alexandria Debuts NY’s Latest Bio Incubator With 13 Startups in Tow”
In a Myeloma Setback, Merck Halts Studies Due to Patient Deaths
[Corrected, 11:10 a.m. ET, see below] Immunotherapy drugs known as checkpoint inhibitors have started to change how a variety of cancers are treated, but they have yet to break through in multiple myeloma, a progressive cancer of the bone marrow. There was a setback on that front today. Merck (NYSE: [[ticker:MRK]]) Monday afternoon paused enrollment … Continue reading “In a Myeloma Setback, Merck Halts Studies Due to Patient Deaths”
GE CEO Immelt to Step Down, GE Healthcare Leader Taking Over
General Electric CEO Jeff Immelt will step down Aug. 1 and be replaced by John Flannery, the head of GE’s healthcare business, the company announced today. The move comes as GE goes through some major changes, including relocating its global headquarters from Fairfield, CT, to Boston, and attempting to transform its business (and its reputation) … Continue reading “GE CEO Immelt to Step Down, GE Healthcare Leader Taking Over”
Regulus Dumps Two Drugs, AstraZeneca Sends Back Another, Shares Fall
It’s been a tough run for Regulus Therapeutics, and things haven’t gotten any better this morning. Regulus is scrapping two programs, and AstraZeneca has kicked back a third drug to boot, sending Regulus shares down to their lowest levels ever. San Diego, CA-based Regulus (NASDAQ: [[ticker:RGLS]]) said this morning that it will stop development of … Continue reading “Regulus Dumps Two Drugs, AstraZeneca Sends Back Another, Shares Fall”
Dragonfly, Tyler Jacks’s Disney-Backed Startup, Gets $33M in Celgene Deal
Dragonfly Therapeutics, a stealthy startup formed by well-known cancer researchers on both coasts and backed by a high-powered group of family offices, has inked its first partnership. Celgene, of Summit, NJ, is paying Dragonfly $33 million up front for the chance to co-develop up to four blood cancer drugs. The deal is a modest bet … Continue reading “Dragonfly, Tyler Jacks’s Disney-Backed Startup, Gets $33M in Celgene Deal”
Getting Women On Boards: Three Ways to Increase the Numbers
The hot topic of getting more qualified women on corporate boards continues unabated. Recent statistics show how companies with women prominently serving in such capacities experience higher-than-average financial performance. A major investment group even declared earlier this year that it would push to get women on the boards of the companies in their portfolio. Yet … Continue reading “Getting Women On Boards: Three Ways to Increase the Numbers”
Bio Roundup: ASCO Digested, Juliet Unveiled, PTC Slated & More
The New York Times Magazine wrote a few weeks ago about the extraordinary metabolic changes in a python after it gulps down a 50,000 calorie meal. The biomedical world was like a postprandial python this week; after extending its maw around the supersized meal of news and data from the American Society for Clinical Oncology … Continue reading “Bio Roundup: ASCO Digested, Juliet Unveiled, PTC Slated & More”
With Ties to Thiel and Musk, Fintech Startup Addepar Adds $140M
Addepar, a wealth management software company co-founded in 2009 by Palantir Technologies co-founder Joe Lonsdale, announced today it has raised $140 million to expand its services to investors and their advisors. It’s a big round for a financial tech company, even for Silicon Valley. The Mountain View, CA-based company’s Series D financing round was co-led … Continue reading “With Ties to Thiel and Musk, Fintech Startup Addepar Adds $140M”
States Seek Slice of $7 Trillion Autonomous Vehicle Industry
As U.S. states and cites vie to capture some of the trillions of dollars of economic activity expected to flow from a shift to autonomous vehicles in the coming decades, Washington on Wednesday joined about two dozen states that have paved the way for testing driverless cars. Washington Gov. Jay Inslee directed relevant state agencies … Continue reading “States Seek Slice of $7 Trillion Autonomous Vehicle Industry”
“It’s Shame On Us If We Blow It”: Highlights From NY Seizes the Momentum
Mike Foley, a drug industry veteran and director of the Tri-Institutional Therapeutics Discovery Institute, has a pointed message for the New York life sciences industry: Don’t waste the moment. Changing the course of New York biotech has been a saga that dates back to the 1990s, and as Xconomy has detailed, progress has been made … Continue reading ““It’s Shame On Us If We Blow It”: Highlights From NY Seizes the Momentum”
Freight Farms Lands $7.3M as Agriculture Meets Data & Automation
Investors have planted $7.3 million in Freight Farms to help the Boston-based startup bring its micro-farms to more places around the globe—and potentially even beyond. The investors in the Series B round include return backer Spark Capital, also based in Boston. The news was first reported by the Wall Street Journal on Monday. Freight Farms’ … Continue reading “Freight Farms Lands $7.3M as Agriculture Meets Data & Automation”
ASCO Roundup: Checkpoint Combos, Tumor Profiling, Financial Toxicity
[Note: Ben Fidler coauthored this report.] The American Society of Clinical Oncology conference is wrapping up, and the closely watched medical meeting-slash-hype machine produced its usual array of data. There were a few big business-focused “horse race” stories—one company’s stumble was another company’s gain—but much of the news consisted of mid-trial updates that companies produce … Continue reading “ASCO Roundup: Checkpoint Combos, Tumor Profiling, Financial Toxicity”
Of Catfish & Fickle Lovers: Aste CEO Talks Online Dating’s Downsides
There are millions of fish in the sea, and dating apps have made it easier to quickly find and connect with a lot more of those would-be catches. But the ease of creating an online dating profile—and the lack of oversight by the companies running such services—means that users can, and often do, misrepresent themselves. … Continue reading “Of Catfish & Fickle Lovers: Aste CEO Talks Online Dating’s Downsides”
Precision Steps: Can Loxo Drug Help Broaden Use of Cancer DNA Tests?
When the FDA last week approved Merck’s cancer drug pembrolizuamb (Keytruda) for tumors with a specific genetic signature, regardless of what body part they originated in, it was a watershed moment for oncology and a victory for the concept of precision medicine. But Merck isn’t alone; others are following suit with similar plans, and their … Continue reading “Precision Steps: Can Loxo Drug Help Broaden Use of Cancer DNA Tests?”
SIGINT Wins Midway: Milestones of Innovation 13
In these days of internet disruptions of complex systems like medical care and even elections, our obsession with data security is swelling. We’re all too aware of how signals from myriad sources can help us construct patterns of human behavior and make plans to take advantage of that behavior. Although it may be no comfort … Continue reading “SIGINT Wins Midway: Milestones of Innovation 13”
Bio Roundup: ASCO Combo Frenzy, Maine’s Free DNA Tests, Sema4 & More
Over the next four days, the Second City will be the center of the biomedical world. The American Society of Clinical Oncology’s annual meeting in Chicago brings together thousands of researchers from across the globe to discuss the latest progress in the war against cancer. On tap this year: the crush of immunotherapy drug combinations, … Continue reading “Bio Roundup: ASCO Combo Frenzy, Maine’s Free DNA Tests, Sema4 & More”
Energy Leaders React to Trump’s Withdrawal From Paris Climate Accord
[Updated 6/2/17, 10:10 pm ET. See below.] President Donald Trump today announced the United States would withdraw from complying with what’s known as the Paris climate accord, a landmark international agreement to combat climate change. In December 2015, nearly all the countries in the world—195 of them—agreed to the pact, which aims to reduce emissions of … Continue reading “Energy Leaders React to Trump’s Withdrawal From Paris Climate Accord”
Sema4, Eric Schadt’s Genomics Startup, Spins Out of Sinai to Raise Cash
[Updated, 9:30 p.m. ET, see below] Eric Schadt has been incubating a genomic data project within the Icahn School of Medicine at Mount Sinai for more than five years. Today, the product of that work, a 300-plus employee startup called Sema4, has formally left the nest. Sema4 today spun out of Mount Sinai as a … Continue reading “Sema4, Eric Schadt’s Genomics Startup, Spins Out of Sinai to Raise Cash”
Dell Leads $12M Investment in Security Assessments Firm RiskRecon
It’s hard enough for businesses and organizations to secure their own networks against cyber attackers. But with the rise of cloud computing and increased outsourcing of business operations to third parties, companies must also worry about the cyber defenses of vendors and partners who have access to their sensitive data and other digital assets. Just … Continue reading “Dell Leads $12M Investment in Security Assessments Firm RiskRecon”
Countering Cybersecurity Turnover: 57 Companies That Do It Best
What does it take to keep highly skilled cybersecurity employees? Salary and benefits are table-stakes. Challenging work, ongoing training, an opportunity to advance without having to become a manager, and a talented peer group all help companies recruit and retain these sought-after “ninjas”—the individuals who can do what artificial intelligence security tools can’t. Research from … Continue reading “Countering Cybersecurity Turnover: 57 Companies That Do It Best”
Bolt Goes Bigger, Raises $80M for Third Early-Stage Hardware Fund
Bolt just raised over $80 million for its third venture fund, its largest to date. But the hardware investor and manufacturing consultant says it remains committed to backing early-stage startups that sometimes struggle to secure capital and other support. Bolt announced the new fund Wednesday in a blog post. An SEC filing indicates the firm … Continue reading “Bolt Goes Bigger, Raises $80M for Third Early-Stage Hardware Fund”
Teva Seeks to Keep Pace in Migraine Drug Race With Trial Results
An experimental Teva Pharmaceutical migraine drug has met the main goals of a late-stage clinical trial, keeping the drugmaker in the race to bring to the market a product that prevents migraine headaches instead of treating them after they start. Teva (NYSE: [[ticker:TEVA]]) reported Wednesday that its drug fremanezumab reduced the number of days during … Continue reading “Teva Seeks to Keep Pace in Migraine Drug Race With Trial Results”
In Maine, Making Cancer DNA Tests Free—And Asking Tough Questions
Has the era of genetic oncology arrived? Last week, the biomedical world took a notable step in that direction when the FDA said Merck’s drug pembrolizumab (Keytruda), already one of the world’s most successful cancer immunotherapies, could now treat any tumor with a particular genetic fingerprint. It was the first time a drug has been … Continue reading “In Maine, Making Cancer DNA Tests Free—And Asking Tough Questions”
Woodcock: New Approvals Show FDA Is Adapting to Precision Medicine
The randomized controlled trial has long been held up as the gold standard for testing new drugs. But the nation’s top drug evaluator, Janet Woodcock, believes they aren’t necessary for all new experimental treatments. Randomized trials are long, expensive to run, and ultimately produce limited answers, she said at a medical conference last week. The … Continue reading “Woodcock: New Approvals Show FDA Is Adapting to Precision Medicine”
Protagonist, Janssen Ink Development Deal for Crohn’s Disease Drug
Protagonist Therapeutics’ work developing an inflammatory bowel disease drug that can be taken as a pill, rather than injected, now has fresh cash and the backing of a large pharmaceutical partner. Newark, CA-based Protagonist (NASDAQ: [[ticker:PTGX]]) has entered a partnership with Janssen Biotech to develop and commercialize its drug, PTG-200. Janssen is paying Protagonist $50 … Continue reading “Protagonist, Janssen Ink Development Deal for Crohn’s Disease Drug”
With Governor’s Approval, Teladoc Expands Texas Telehealth Services
Dallas—Texas, a large healthcare market and the home state of Teladoc (NYSE: [[ticker:TDOC]]), has been a relatively small market for the telemedicine firm. But now with Texas Gov. Greg Abbott’s signature on a new law that makes operating in the state easier, Teladoc is poised to expand its business here. Lewisville, TX-based Teladoc had been … Continue reading “With Governor’s Approval, Teladoc Expands Texas Telehealth Services”
At the Alexandria Center Tomorrow: Can NY Biotech Seize the Moment?
A few weeks ago at the annual NewYorkBio conference, Xconomy asked a variety of folks about the state of New York biotechnology in 2017: is the momentum that has been gathering in life sciences in New York still building, or has it stalled? Their answers were mixed. Some expressed frustration with some of the same … Continue reading “At the Alexandria Center Tomorrow: Can NY Biotech Seize the Moment?”
On ASCO’s Eve, Experts Fret Over Backlash to Cancer Combo Frenzy
When thousands of cancer researchers from around the world gather in Chicago this weekend for the American Society of Clinical Oncology’s annual meeting, drugs that fight tumors by boosting a patient’s immune system will take center stage, as they have in previous years. But the stage is more crowded, as researchers have begun in earnest … Continue reading “On ASCO’s Eve, Experts Fret Over Backlash to Cancer Combo Frenzy”
Bio Roundup: Skinny Cuts, Genomic Approvals, Unfrozen FDA & More
Team Trump unveiled its 2018 federal spending proposal—the so-called “skinny budget”—with health and science in the crosshairs. The NIH is looking at a 22 percent cut and the FDA 31 percent, although the administration wants to backfill the FDA loss with a huge boost in user fees, which drug and device companies pay to have … Continue reading “Bio Roundup: Skinny Cuts, Genomic Approvals, Unfrozen FDA & More”
Rackspace Buys Boston Area’s TriCore in Largest-Ever Acquisition
San Antonio—Rackspace has acquired a Norwell, MA-based company called TriCore Solutions that the cloud computing giant says is its largest acquisition ever, both financially and by the number of employees. The news comes less than a year after Rackspace itself was bought for $4.3 billion by Apollo Global Management, a New York-based private equity firm that … Continue reading “Rackspace Buys Boston Area’s TriCore in Largest-Ever Acquisition”
Amid Budget Concerns, NIH Preps Beta Test for Precision Medicine Plan
An ambitious plan to recruit 1 million U.S. volunteers and amass a treasure trove of their health information will start next week with a “beta test” that health officials hope to eventually expand nationwide. National Institutes of Health director Francis Collins said Wednesday that the Precision Medicine Initiative will begin in Pittsburgh, where the agency … Continue reading “Amid Budget Concerns, NIH Preps Beta Test for Precision Medicine Plan”