Category: New York

Video Trends Point to Changing Ways Companies Reach Consumers

The top emerging trends that will affect our business in 2017 are a mixture of how consumers digest information online, video trends, and the continued growth of live video. The way people digest information online has shifted over time from being text based to photo based to now being very video based. Facebook forecasts that … Continue reading “Video Trends Point to Changing Ways Companies Reach Consumers”

Biotech Roundup: JPM Deals, Gender Diversity, PCSK9 Battle & More

[Corrected, 1/14/16, see below] This past week, the biopharma industry made its annual January pilgrimage to San Francisco for the J.P. Morgan Healthcare Conference. 2016 was a whirlwind year in biotech, and the biopharma gods rewarded attendees with a multi-day monsoon to slog through to get from one meeting to the next. Earlier today, Alex … Continue reading “Biotech Roundup: JPM Deals, Gender Diversity, PCSK9 Battle & More”

Notes From The JPM ’17 Vortex: Trump, Rainstorms & The Price You Pay

[Editor’s note: Ben Fidler contributed to this report] The week of frenetic data sharing, deal talking, and party hopping of the J.P. Morgan Healthcare Conference—and the events that have mushroomed around it—took a punch to the gut just as most attendees were wrapping up and checking their outbound flight status. The incoming party-pooper-in-chief, Donald Trump, … Continue reading “Notes From The JPM ’17 Vortex: Trump, Rainstorms & The Price You Pay”

Startup Resolution 2017: Embrace Believers, Bounce Skeptics & Keep Moving

The holiday period is a great time for reflection and then behavior modification – often referred to as resolutions. While a bit artificial to the logical engineer, this opportunity can be helpful. This year, my favorite insight came from a former student and employee, Elliot Cohen, co-founder of PillPack. While thinking about the major aspirational … Continue reading “Startup Resolution 2017: Embrace Believers, Bounce Skeptics & Keep Moving”

Cyber Attackers Targeted Our Trust, Not Just an Election

The cyber attacks on political organizations and election infrastructure added a level of intrigue to this year’s U.S. presidential election – culminating in the U.S. government officially blaming the Russian government for trying to influence the election. If the Cold War has taught us anything, it’s that global espionage is a game of chess, not … Continue reading “Cyber Attackers Targeted Our Trust, Not Just an Election”

Biopharma Leaders Call for Gender Diversity Amid J.P. Morgan Conference

A group of more than 100 prominent life sciences executives, investors, and business leaders have signed an open letter calling on the industry to step up efforts to increase gender diversity. The letter was published Wednesday, on the second to last day of the annual J.P. Morgan healthcare conference in San Francisco (see full letter … Continue reading “Biopharma Leaders Call for Gender Diversity Amid J.P. Morgan Conference”

Correlation Ventures Raises $200M, Maintains Its “Moneyball” Strategy

Correlation Ventures, a co-investing venture firm that uses analytic software to optimize its decisions, said today it has raised $200 million for its oversubscribed second fund. The firm, which has offices in San Diego, Palo Alto, and New York, said it now has $366 million in assets under management. Investors in the fund include college … Continue reading “Correlation Ventures Raises $200M, Maintains Its “Moneyball” Strategy”

Trump Slams Drug Companies, Says Medicare “Bidding” Is Coming

Oh, the power of a Donald Trump sound bite. On the campaign trail and as president-elect he has made occasional noises about drug pricing—giving the U.S. Medicare system, the largest buyer of drugs in the world, the right to negotiate prices, for instance. This morning, in his first press conference, Trump went further. He said … Continue reading “Trump Slams Drug Companies, Says Medicare “Bidding” Is Coming”

Edtech Venture Funding Down in 2016, But Still Tops $1B

While we’re looking at venture deal numbers from the past year, let’s consider the education technology industry, which isn’t broken out by sector in the general reports I’ve seen. A recent study by EdSurge, an edtech information firm, shows venture funding for U.S. education tech companies totaled $1.03 billion (across 138 deals) in 2016. Those … Continue reading “Edtech Venture Funding Down in 2016, But Still Tops $1B”

At Allergan And Other Pharmas, Price Transparency Has Limits

The first test of pharmaceutical giant Allergan’s promise to behave responsibly came last week. The firm acknowledged price hikes on several drugs that stayed—sometimes barely—under the 10 percent limit that CEO Brent Saunders pledged last September, in what he called a “social contract with patients.” In an interview at the annual J.P. Morgan healthcare investment … Continue reading “At Allergan And Other Pharmas, Price Transparency Has Limits”

VC Activity Continues Slowdown in Fourth Quarter, and Top 10 Deals

Venture capital firms didn’t exactly take their foot off the accelerator, but the pace of VC investments continued to weaken in the three months that ended in December, extending a slowdown that began in July, according to two venture reports issued today. The deceleration followed a strong start to venture activity during the first half … Continue reading “VC Activity Continues Slowdown in Fourth Quarter, and Top 10 Deals”

Protecting America’s Tech Prowess Amid the Hostile Rhetoric of 2017

With the inauguration of Donald Trump as president on January 20th, the editors asked some of our Xconomists to offer their thoughts on “How could the incoming administration significantly affect your industry?” My biggest concern would be a failure to recognize and take full advantage of the fact that America’s biggest asset is its technological … Continue reading “Protecting America’s Tech Prowess Amid the Hostile Rhetoric of 2017”

J&J, NY State to Form Biotech Incubator in Big Apple’s Genome Center

New York State Governor Andrew Cuomo is planning to use some of the cash from his recently announced $650 million biotech initiative on Manhattan’s biggest life sciences problem—lack of lab space. Cuomo will put $17 million in state funding towards a new biotech startup incubator that will be situated in the New York Genome Center … Continue reading “J&J, NY State to Form Biotech Incubator in Big Apple’s Genome Center”

Celgene Pays Anokion $45M for Autoimmune Research, Option to Buy

Celgene hasn’t been afraid to strike deals with early stage biotech companies and the Summit, NJ-based drug developer is at it again, this time entering a research partnership with Anokion in autoimmune diseases. Under the deal announced Monday, Celgene (NASDAQ: [[ticker:CELG]]) is paying Anokion $45 million up front. Anokion, which is based in Lausanne, Switzerland … Continue reading “Celgene Pays Anokion $45M for Autoimmune Research, Option to Buy”

New Bain Investor Yumin Choi on Obamacare’s Future, Surviving Cancer

Bain Capital Ventures has a new person leading its healthcare investments. Yumin Choi has joined the firm as a managing director, after a decade as a partner at HLM Venture Partners, a Boston-based, healthcare-focused venture firm. Choi has a deeper, more personal understanding of the healthcare industry than most investors. Two years ago, the 33-year-old … Continue reading “New Bain Investor Yumin Choi on Obamacare’s Future, Surviving Cancer”

Smart Voice Assistants Will Spread From Talking Devices To Apps in 2017

Millions of consumers who used to type their search questions on a laptop or the tiny keys of a smartphone are now simply telling a tabletop device what they want. Signs are that the Amazon Echo and Google Home—both equipped with smart voice assistants—will turn out to be blockbuster sellers of the holiday gift season … Continue reading “Smart Voice Assistants Will Spread From Talking Devices To Apps in 2017”

Bio Roundup: Biogen Price Fears, A Grail Billion, Hellos, Byes & More

Happy new year, everyone. Are you all strapped in? Tray tables in the locked and upright position? As Bette Davis once said, “It’s going to be a bumpy night.” The news from Washington is already coming fast and furious. The effort to repeal Obamacare is underway, spawning more perspectives and opinions than a postmodern Japanese … Continue reading “Bio Roundup: Biogen Price Fears, A Grail Billion, Hellos, Byes & More”

Families Fret As Insurers Mull Biogen’s $750K Spine Disease Drug

This past Christmas weekend, Ana Memedovich had her best two days in more than a decade. Her 23-year-old son Mikhail has spinal muscular atrophy, or SMA, a rare genetic disease that has slowly robbed him of the ability to walk and function independently. On Dec. 23, the FDA approved nusinersen (Spinraza), the first-ever drug for … Continue reading “Families Fret As Insurers Mull Biogen’s $750K Spine Disease Drug”

Biopharma Industry, Heal Thyself (Without Government Help)

With the inauguration of Donald Trump as president on January 20th, the editors asked some of our Xconomists to offer their thoughts on “How could the incoming administration significantly affect your industry?” The life sciences industry has one problem: Lack of productivity. When it figures out how to consistently make a profit discovering and developing drugs … Continue reading “Biopharma Industry, Heal Thyself (Without Government Help)”

Namely Lands $50,000,000 Series D Financing

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=acb3c65c-dd12-4dc9-89dc-88a440eece0b Date 1/6/2017 Company Name Namely Mailing Address 195 Broadway 15th Floor New York, NY 10007 USA Company Description Namely is the first talent management platform built for the professional services industry—specifically advertising. Namely enables agencies to manage their teams, retain key employees and grow revenues. Website http://www.namely.com Transaction Type Venture Equity … Continue reading “Namely Lands $50,000,000 Series D Financing”

Jet.com Grabs ShoeBuy for $70M as Walmart Expands E-Commerce Arsenal

Walmart is snapping up another company to build out its online shopping offerings, as the low-cost retail giant adapts to shifting consumer habits and duels with Amazon. Walmart (NYSE: [[ticker:WMT]]) and its prized e-commerce subsidiary Jet.com have acquired Boston-based ShoeBuy for about $70 million from IAC. The deal was announced Thursday, but closed on December … Continue reading “Jet.com Grabs ShoeBuy for $70M as Walmart Expands E-Commerce Arsenal”

Diversity in Experiences, Backgrounds Leads to Successful Businesses

As a Microsoft employee, I had the opportunity to work with some of the most brilliant minds in technology. The profile of my team members were similar to the United Nations. They were of every racial and religious mix. They contributed their unique genius shaped by their individual diverse experiences. I know the value of … Continue reading “Diversity in Experiences, Backgrounds Leads to Successful Businesses”

Rockets of Awesome Secures $12,500,000 Series A Financing

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=4f17020b-1907-4bba-81ee-8b5e961761bc Date 1/5/2017 Company Name Rockets of Awesome Mailing Address 75 Spring Street 4th Floor New York, NY 10012 USA Company Description We are a team of moms, dads, aunts, and uncles. We’re inspired by our amazing and picky kids, but (we’re not going to lie) shopping for them is a never-ending … Continue reading “Rockets of Awesome Secures $12,500,000 Series A Financing”

Trump Administration Needs To Set U.S. Cybersecurity Mandates

Cybersecurity is the penultimate existential risk to the United States—economically, militarily, socially, and as we have seen recently, politically. The nature of cyber is asymmetric, and given the size of the U.S. economy, our reliance on intellectual property, and the leadership role the U.S. plays in the Community of Nations, we have a lot more … Continue reading “Trump Administration Needs To Set U.S. Cybersecurity Mandates”

Digitalis Launches $100M Health Fund, With Emphasis On Data

Information technology has wound itself so deeply into healthcare, this might be the year that the term “digital health”—used roughly to distinguish health-related hardware and software from drugs and medical devices—becomes quaint. One example of the ever-blurrier lines between health and technology is a new venture fund, Digitalis Ventures. The firm has already made three … Continue reading “Digitalis Launches $100M Health Fund, With Emphasis On Data”

RaNA Expands, Joins Messenger RNA Drug Race With Shire Deal

RaNA Therapeutics is branching out. Today, the Cambridge, MA, startup is acquiring some assets from pharmaceutical giant Shire that immediately make it a player in an emerging, yet unproven field of drugmaking—messenger RNA therapeutics. Cambridge, MA-based RaNA has acquired a small, recently shuttered unit of Shire (NASDAQ: [[ticker:SHPG]]) devoted to making drugs with synthetic mRNA. … Continue reading “RaNA Expands, Joins Messenger RNA Drug Race With Shire Deal”

For 2017, Concerns on Immigration, Net Neutrality, & Cyber Warfare

I have many concerns about how the upcoming Trump administration will impact the overall tech economy. Some of my biggest worries are as follows: 1) More restrictive immigration laws will make it even harder for startups (as well as more established companies) to attract and retain the highly skilled workers that they need to be … Continue reading “For 2017, Concerns on Immigration, Net Neutrality, & Cyber Warfare”

Versant Closes on $400M Fund, Eyes More Biotech Deals in Europe

Versant Ventures now has $400 million in its coffers to fuel its pursuit of early-stage healthcare technologies and startups, and it has a particular goal of expanding its investment approach in Europe. With the closing of its sixth fund announced Tuesday, San Francisco-based Versant now aims to invest in as many as 25 companies in … Continue reading “Versant Closes on $400M Fund, Eyes More Biotech Deals in Europe”

Subscription-Based Startups Size Up Amazon, Brick-And-Mortar Stores

Amazon said it shipped more than one billion items worldwide this holiday season, marking another record-setting year for the Seattle-based online retailer. Sales figures tell part of the story, while Amazon’s (NASDAQ: [[ticker:AMZN]]) steadily expanding geographic footprint tells another. The upshot is that for a new company looking to break into e-commerce, Amazon is likely … Continue reading “Subscription-Based Startups Size Up Amazon, Brick-And-Mortar Stores”

Top Cybersecurity Lesson from 2016: Unchecked Insiders

An unmistakable lesson from 2016 is that there is an escalating arms race between hackers and the organizations they target—from the highest levels of national governments to corporations and private institutions. And while hackers have many advantages, there are two that are contributing to a rampant spike in cyber breaches right now: 1. Employees, contractors, … Continue reading “Top Cybersecurity Lesson from 2016: Unchecked Insiders”

Inotek’s Glaucoma Drug Flunks in First Phase 3 Test, Shares Crumble

Inotek Pharmaceuticals has started 2017 with a big setback. The company’s first big Phase 3 test of an experimental glaucoma drug fell far short this morning, leaving the fate of the drug, known as trabodenoson, unclear. Lexington, MA-based Inotek (NASDAQ: [[ticker:ITEK]]) said that trabodenoson failed MATrX-1, the first of three Phase 3 trials in glaucoma … Continue reading “Inotek’s Glaucoma Drug Flunks in First Phase 3 Test, Shares Crumble”

Diverse Workforces Support the Growth of North Texas Innovation

We have made it a priority since the inception of the DEC to incorporate diversity into all that we do. We have hired a diverse workforce. We have created programs focused on diverse audiences including gender, age, religion, ethnicity, political affiliation, and more. We have made all of this a priority not only because it … Continue reading “Diverse Workforces Support the Growth of North Texas Innovation”

First Trial Underway, Jounce Preps IPO To Fund Immuno-Oncology Work

Even though Jounce Therapeutics has no human clinical data to report yet, a partnership with Celgene and support from a broad group of investors have made the Cambridge, MA, cancer drug developer a likely IPO candidate for some time now. Jounce made those intentions clear Friday, filing papers to try for an IPO that would … Continue reading “First Trial Underway, Jounce Preps IPO To Fund Immuno-Oncology Work”

Trump Administration Should Examine How Dodd-Frank Stifles Capital

A review by the new Trump administration and Congress of the 2010 Dodd-Frank legislation could address many of the stifling, unintended consequences of that law. Although designed to address abuses in the financial system that led to the 2008 recession, the far-reaching legislation had problems from the start. And while experts of all political stripes … Continue reading “Trump Administration Should Examine How Dodd-Frank Stifles Capital”

Uru Garners $800,000 Seed Financing

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=20fafc77-511f-4cad-8f0f-95f4dca47d10 Date 1/3/2017 Company Name Uru Mailing Address 625 Avenue of the Americas 3rd Floor New York, NY 10011 USA Company Description Uru instantly understands the content of your video and all of the untapped monetization opportunities inside it. Based on these learnings, it pinpoints appropriate brand partners and instantly immerses them … Continue reading “Uru Garners $800,000 Seed Financing”

Watching for NIH Innovation in 2017—and Drug Pricing, Trade Deals

With the inauguration of Donald Trump as president on January 20th, the editors asked some of our Xconomists to offer their thoughts on “How could the incoming administration significantly affect your industry?” When I worked in the Reagan Administration, the “Gipper” used to handle questions like this by saying he couldn’t respond to hypothetical questions. … Continue reading “Watching for NIH Innovation in 2017—and Drug Pricing, Trade Deals”

Rent the Runway Receives $60,000,000 New Financing

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=614b5a61-04e3-4dd7-9c5e-7e8a0651168f Date 12/31/2016 Company Name Rent the Runway Mailing Address 304 Hudson Street New York, NY 10013 USA Company Description What if you had an entire rack lined with styles that were perfect for any special occasion, another filled with cheeky ’80s redux? And what if you had a team of stylists … Continue reading “Rent the Runway Receives $60,000,000 New Financing”

EquityZen Receives $1,809,374 New Funding

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=8f78551a-5cb5-41af-a093-97d7c2033d43 Date 12/31/2016 Company Name EquityZen Mailing Address 222 Broadway New York, NY 10038 USA Company Description EquityZen’s mission is to improve the way startup employees are paid by unlocking the value of their equity compensation in a way that benefits all key players: the shareholder, the company, and the investor. Website … Continue reading “EquityZen Receives $1,809,374 New Funding”

Varmus, Sato on Steering De Blasio’s $500M Plan to Grow NY Biotech

The idea that New York City could become a biotech powerhouse dates back to the late 1990s. It’s been a slow, tedious process, and it’s nowhere near complete, but from near and far, Harold Varmus and Vicki Sato have been watching the gears begin to turn. Varmus, who earned a Nobel prize for his work … Continue reading “Varmus, Sato on Steering De Blasio’s $500M Plan to Grow NY Biotech”

Despite Political Rhetoric, Staff Diversity Remains a Top Priority

I don’t think the election of Donald Trump as president does much to bolster those in tech working on creating a more inclusive and diverse industry, but I will continue to be a champion for it nonetheless. Specifically, I’ve ended 2016 by doubling our team at Localeur and introducing an Advisory Board, both of which … Continue reading “Despite Political Rhetoric, Staff Diversity Remains a Top Priority”

Political Focus on Rust Belt Could Help Boost VC Investment

Much has been written in the tech industry as a result of the Presidential election. Many coastal VCs and entrepreneurs believe that Trump’s America-first, anti-immigration platform could put the brakes on the venture industry’s core globalization strategies. While this may be true, regardless of which candidate you supported, most would agree that with chaos and … Continue reading “Political Focus on Rust Belt Could Help Boost VC Investment”

6 Cybersecurity Predictions for 2017: Ransomware, Skills Gap & More

In 2016, we saw cyber attacks increasingly shift from external breaches of confidential data to internal disruption of data and services, as attackers used distributed denial of service (DDoS) or encryption to hold businesses hostage. Attackers continue to focus more on exploiting users than technology. Users are often unaware and uneducated about the potential risks, … Continue reading “6 Cybersecurity Predictions for 2017: Ransomware, Skills Gap & More”

Immigration Restrictions, Lack of Healthcare Could Imperil Innovation

It’s hard to predict what effect the new administration will have, since we have very little information on any concrete policies they plan to enact. We do know a few things—namely, they are anti-Obamacare and anti-immigration. Decreasing the number of visas granted to highly skilled workers (a likely possibility given Steve Bannon’s comments on Silicon … Continue reading “Immigration Restrictions, Lack of Healthcare Could Imperil Innovation”

CookUnity Obtains $1,000,000 New Funding

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=03f9ac8b-07e6-4e8b-bdee-12c101d2ac7d Date 12/26/2016 Company Name CookUnity Mailing Address Undisclosed New York, NY 10019 USA Company Description Artfully crafted food by local chefs delivered in 30 minutes. We empower culinary entrepreneurs to cook and sell their specialties online. We utilize the underutilized capacity in the food industry by subletting kitchens in their spare … Continue reading “CookUnity Obtains $1,000,000 New Funding”

Bio Roundup: Crazy ’16, Trials of ’17, Senate on Drugs & More

You’ve probably seen the Internet memes. “When 2016 started, I looked like this. [Insert picture of young Leo DiCaprio.] Now I look like this. [Leo, with mountain beard, after mud-wrestling with a grizzly in The Revenant.]” In life science terms, let’s just say all our telomeres feel a lot shorter than 12 months ago. The … Continue reading “Bio Roundup: Crazy ’16, Trials of ’17, Senate on Drugs & More”

CafeX Communications Receives $16,143,459 New Financing Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=60cb9fb8-758a-4a83-afee-0d3c9980d49f Date 12/23/2016 Company Name CafeX Communications Mailing Address 1040 Avenue of the Americas New York, NY 10018 USA Company Description Our award-winning software makes it easier for companies to enhance live engagement within web and mobile apps. Contact us to learn more. Website http://www.cafex.com Transaction Type Venture Equity Transaction Amount $16,143,459 … Continue reading “CafeX Communications Receives $16,143,459 New Financing Round”

Explain Everything Secures $3,700,000 Series A Funding

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=c611a04d-28f1-4dbf-afc0-17e869a5524b Date 12/23/2016 Company Name Explain Everything Mailing Address 119 West 24th Street New York, NY 10011 USA Company Description Explain Everything is the most versatile interactive whiteboard available for your device – use it for sharing knowledge, building understanding, personal productivity and much more. Website http://www.explaineverything.com Transaction Type Venture Equity Transaction … Continue reading “Explain Everything Secures $3,700,000 Series A Funding”

Marketing Evolution Secures $4,000,000 New Financing

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=b646581e-087e-45f5-b8b8-525762f913d4 Date 12/23/2016 Company Name Marketing Evolution Mailing Address 122 E. 42nd St. New York, NY 10168 USA Company Description At Marketing Evolution, we believe the world would be a better place if marketers had the tools to be more connected with their customers and prospects. Website http://www.marketingevolution.com Transaction Type Venture Equity … Continue reading “Marketing Evolution Secures $4,000,000 New Financing”

Backtrace Garners $5,000,000 Series A Funding Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=c2da321a-6bd6-4c67-b662-9a75c1fe4c25 Date 12/23/2016 Company Name Backtrace Mailing Address 110 Fifth Avenue 5th Floor New York, NY 10011 USA Company Description Backtrace, located in New York City, is dedicated to building the best debugging technology for today’s enterprise software. Our turn-key error management platform helps teams quickly figure out the when, where, and … Continue reading “Backtrace Garners $5,000,000 Series A Funding Round”