Home remodeling shows are a reality TV staple. But no Park Avenue mansion or country estate can top the nearly $1 billion price tag of the house C. Randal Mills is trying to renovate on the fly in California. Mills, who goes by Randy, is the president of the State of California’s stem cell agency, … Continue reading “Now Playing: California’s $1 Billion Stem-Cell Renovation Show”
Category: Raleigh-Durham
Innovation Hub: 10 Years After the Larry Summers Controversy
Ten years ago, Harvard’s then-president, Larry Summers, wondered why women are so scarce in elite math and science departments. Is it because they’re less ambitious than men? Or, perhaps, they’re less inclined to be extremely smart? His comments caused a national furor, and Summers stepped down as president the following year. Now, Professor Eileen Pollack, … Continue reading “Innovation Hub: 10 Years After the Larry Summers Controversy”
Obama Wants You (And 1 Million Others) For ‘Precision’ Health Data
[Updated 1/30/15 1:15 pm. See below.] President Obama’s precision medicine plan just got a bit more precise, and it has a $215 million price tag. Starting with that cash, his administration wants to build a massive national database to study long-term public health trends, gathering head-to-toe health data from a million or more volunteers over … Continue reading “Obama Wants You (And 1 Million Others) For ‘Precision’ Health Data”
Data Storage Giant EMC Announces Restructuring Plan, Job Cuts
EMC, the Boston-area tech giant known for its acquisitive streak, has announced a restructuring plan that is expected to result in a steep charge and job cuts this year. The data storage provider expects to face charges of $130 million to $150 million because of a planned restructuring that EMC’s board approved Wednesday, the company … Continue reading “Data Storage Giant EMC Announces Restructuring Plan, Job Cuts”
Biogen Places Gene Therapy Bet in Crowded Hemophilia Space
[Updated, 2:00 pm ET] Like most everyone else in biotech, Biogen Idec bailed out of gene therapy research over a decade ago when it looked like the tantalizing field would never deliver on the hype. But gene therapy’s renaissance is now well underway, catalyzed by better delivery technologies, and importantly, promising human clinical data. And … Continue reading “Biogen Places Gene Therapy Bet in Crowded Hemophilia Space”
Xconomy Is Seeking Great Sales People in Boston and San Francisco
When it comes to writing in-depth, daily stories about the business of high technology—in tech, life sciences, and beyond—we at Xconomy believe there are few news organizations that can match our editorial team. We feature many of these stories—and the people behind them—at our events as well. Now, right here in Boston and also in … Continue reading “Xconomy Is Seeking Great Sales People in Boston and San Francisco”
The Venture Funding Gap is Widening; What Does it Mean?
The National Venture Capital Association has just released the latest MoneyTree data on venture industry fund-raising, which always makes me sit up straight and take notice—it’s kind of an industry scorecard. In addition to being baffled by the fact that the amount the U.S. venture industry invests outstrips how much we raise (see below), I … Continue reading “The Venture Funding Gap is Widening; What Does it Mean?”
Duke Cardiologist Califf Appointed FDA Deputy Commissioner
Duke University cardiologist Robert Califf is joining the FDA, an appointment that brings to the agency a doctor with deep experience in the development and testing of new drugs. The FDA on Monday named Califf deputy commissioner for Medical Products and Tobacco, a position that reports to FDA Commissioner Margaret Hamburg. The appointment comes nearly … Continue reading “Duke Cardiologist Califf Appointed FDA Deputy Commissioner”
$75M in Real Cash Helps Coinbase Launch First U.S. Bitcoin Exchange
Bitcoin took a potentially big step toward legitimacy in the U.S. today with the launch of the nation’s first licensed exchange for the virtual currency. Now, it’s up to San Francisco startup Coinbase to convince would-be traders that its platform is a safe and preferable place to put their money. Founded in 2012, Coinbase has … Continue reading “$75M in Real Cash Helps Coinbase Launch First U.S. Bitcoin Exchange”
Innovation Outlook for 2015: Tackling Big Data Variety
In 2015, look for the innovation community to be talking about Big Data Variety: the problem, how to fix it, how to make money off of it. Companies have invested roughly $3-4 trillion on enterprise software over the last 20 years, with Gartner forecasting $320 billion in 2014 alone. A lot of that investment has … Continue reading “Innovation Outlook for 2015: Tackling Big Data Variety”
Raleigh-Durham Roundup: LabCorp, SignalShare, UNC, & More
Here are the week’s headlines in North Carolina tech and biotech news: —LabCorp (NYSE: [[ticker:LH]]) priced a $2.9 billion offering of senior notes to raise money to cover some costs related to its $6.1 billion acquisition of contract research organization Covance (NYSE: [[ticker:CVD]]). Burlington, NC-based LabCorp, a laboratory testing and diagnostics company, announced its deal … Continue reading “Raleigh-Durham Roundup: LabCorp, SignalShare, UNC, & More”
Speaking LINGO, Biogen R&D Chief Wants to Push Nerve Repair Boundary
The biggest clinical trial news of 2015 so far, arguably, was a report from Biogen Idec (NASDAQ: [[ticker:BIIB]]) about a drug meant to do something never done before: repair nerve damage in multiple sclerosis patients and possibly reverse the course of the disease. The news was also quite ambiguous. In a Jan. 8 release, the … Continue reading “Speaking LINGO, Biogen R&D Chief Wants to Push Nerve Repair Boundary”
Innovation Hub: Who Needs Talent?
How many articles have been written about the innate business acumen of Steve Jobs, the brilliant coding abilities of Mark Zuckerberg, the extraordinary gifts of Yo Yo Ma? And what if they were all wrong? Geoff Colvin has combed through the research, and he argues that, again and again, scholars have almost completely discounted the … Continue reading “Innovation Hub: Who Needs Talent?”
FilterEasy—Making Smart Homes Smarter & More Efficient
Most homeowners can’t remember the last time they changed the air filters for their heating and air conditioning units. Startup FilterEasy wants to make sure homeowners never have to remember again. FilterEasy sells air filters through an online subscription service that sends filters to homeowners on a prescribed schedule. Thad Tarkington, CEO and co-founder of … Continue reading “FilterEasy—Making Smart Homes Smarter & More Efficient”
FilterEasy Receives $1,200,000 Seed Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=1aaa189f-08ce-4c7e-b38e-adcacc6c5771 Date 1/23/2015 Company Name FilterEasy Mailing Address 5510 Six Forks Road Raleigh, NC 27609 USA Company Description FilterEasy offers all home air filters at an affordable price. Filters are mailed directly to your door when it is time for them to be replaced. Website http://www.filtereasy.com Transaction Type Venture Equity Transaction Amount … Continue reading “FilterEasy Receives $1,200,000 Seed Round”
Plum Print Garners Seed Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=61ea2ede-871f-4f1a-b58a-b7b2a0a3de46 Date 1/23/2015 Company Name Plum Print Mailing Address 36 Montford Ave. Asheville, NC 28801 USA Company Description We take the overwhelming piles of paper-plate flower pots and sweet scribbles sent home from school and transform it into a beautiful book and organized e-file. All you’ve got to do is ping us … Continue reading “Plum Print Garners Seed Financing Round”
Spreedly Obtains $149,942 New Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=c5f73e2d-bb8b-44b5-bf47-f0b55849866b Date 1/23/2015 Company Name Spreedly Mailing Address 116 West Main Street Durham, NC 27701 USA Company Description Formed in 2008 Spreedly was a simple, elegant subscription management service. Built by developers for developers, we placed an emphasis on solving difficult business challenges around online recurring payments. Over time we realized the … Continue reading “Spreedly Obtains $149,942 New Financing Round”
Two Generations of Geneticists, Two “Precision Medicine” Wish Lists
In late 2012, President Obama awarded Leroy “Lee” Hood the National Medal of Science for a lifetime of achievements, including the invention of machines that made the historic Human Genome Project possible. So when Obama announced yesterday a “precision medicine initiative”—something that would surely require ever-deeper knowledge about the personal genetic differences that influence health … Continue reading “Two Generations of Geneticists, Two “Precision Medicine” Wish Lists”
Crowdfunding is Banging on Biotech’s Door. Will We Let It In?
In the summer of 2013, the medical device startup Scanadu made headlines around the world when Scout, its handheld medical diagnostic tool for consumers, raked in an astounding $1.6 million on the popular crowdfunding platform Indiegogo. That’s all well and good for a medical device, but most biotech veterans remain skeptical that crowdfunding can make … Continue reading “Crowdfunding is Banging on Biotech’s Door. Will We Let It In?”
In the Jiu-Jitsu Match of Biotech Risk, a Reminder of Other Paths
Risk makes for great headlines. I’m guilty as charged. My first column for Xconomy questioned whether biotech venture capitalists were losing relevance, running away from risk in an inherently risky business. Heading full steam into the new year, there will be plenty of headlines and stories from us and our peers about the brave and … Continue reading “In the Jiu-Jitsu Match of Biotech Risk, a Reminder of Other Paths”
Humacyte Garners $12,500,000 New Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=ddbf3ca9-65fc-45cb-b6c5-75f4f8f72b35 Date 1/20/2015 Company Name Humacyte Mailing Address 7020 Kit Creek Rd. Morrisville, NC 27560 USA Company Description Humacyte’s core technology is the engineering of human-based tissue scaffolds that can be shaped into tubes, sheets, or particulate conformations and can be applied to many specific applications. Website http://www.humacyte.com Transaction Type Debt Transaction … Continue reading “Humacyte Garners $12,500,000 New Financing Round”
J.P. Morgan 2015: Notes, Thoughts, And Conversations From the Vortex
The word “story” gets ill treatment at events like the J.P. Morgan Healthcare Conference. It often means an elevator pitch from a harried CEO to a distracted investor, or a few observations a journalist strings together with a headline, or Twitter snark trying to pass for insight. But we heard a real story on Sunday … Continue reading “J.P. Morgan 2015: Notes, Thoughts, And Conversations From the Vortex”
It Had to be You: Why Roche Was The Lone Suitor For Foundation
The buzz from day one of the J.P. Morgan Healthcare Conference in San Francisco earlier this week was the announcement on Sunday night by Roche that it was acquiring a majority interest in Foundation Medicine (NASDAQ: [[ticker:FMI]]) for a bit more than $1 billion in cash, which translates into $50 a share. Those were just … Continue reading “It Had to be You: Why Roche Was The Lone Suitor For Foundation”
Clinipace Obtains $50,000,000 New Funding Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=cfc629d4-631f-46ca-a238-85df9dcab7b3 Date 1/16/2015 Company Name Clinipace Mailing Address 3800 Paramount Pkwy Morrisville, NC 27560 USA Company Description Clinipace is a clinical research software company providing a single, integrated data capture and study management platform for post-approval research and registries conducted by biopharmaceutical and medical device companies, Contract Research Organizations (CROs) and Academic … Continue reading “Clinipace Obtains $50,000,000 New Funding Round”
MIT MBA Students Tour Silicon Valley As Tech Campuses Expand
It’s easy to catch the technology bug. After all, tech companies are pretty much everywhere. I became hooked when I worked as an IT consultant at Accenture after college, and plan to work at a technology company after I finish my MBA. So when I had the opportunity to participate in a Technology Trek at … Continue reading “MIT MBA Students Tour Silicon Valley As Tech Campuses Expand”
Ideas for Diversity, Education, and Computer Science
On December 24 2009, Xconomy published a column in which I reflected on the preceding decade and predicted for the coming one. I still quote that column in talks, because it’s the one time I can remember when I was actually right: I said that this would be the decade in which computer scientists put … Continue reading “Ideas for Diversity, Education, and Computer Science”
Uber-Size Deals Dominate Mega Year in U.S. Venture Activity
Venture capital firms invested more than $47.3 billion in U.S. startups in 2014, marking the highest funding level of VC funding since 2001, according to data being released today by CB Insights, the New York-based venture capital database. The $47.3 billion was 62 percent more than the $29.2 billion that venture firms invested in 2013. … Continue reading “Uber-Size Deals Dominate Mega Year in U.S. Venture Activity”
Smartlink Mobile Systems Receives $2,500,000 Seed Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=2661b405-0a3c-493e-8284-b6988f7faa3f Date 1/15/2015 Company Name Smartlink Mobile Systems Mailing Address 1000 Centre Green Way Cary, NC 27513 USA Company Description Smartlink Mobile Systems, launched in April 2012, was initiated by enthusiastic healthcare professionals, physicians, clinical administrators and seasoned IT entrepreneurs who were frustrated with stagnant health outcomes with no obvious solutions in … Continue reading “Smartlink Mobile Systems Receives $2,500,000 Seed Financing Round”
Houston, Austin, Raleigh, Denver Tops in U.S. for STEM Workers
All metro areas are not created equal. If you’re looking at job markets in science, technology, engineering, and math (STEM)—a major indicator of economic growth and innovation—the U.S. is a study in contrasts. That’s according to a survey by WalletHub, a financial information site based in Washington, DC. The analysis looked at metrics such as … Continue reading “Houston, Austin, Raleigh, Denver Tops in U.S. for STEM Workers”
Colleges Must Mix Entrepreneurial Skills, Traditional Liberal Arts
The great challenge facing higher education is to prepare students to navigate a world of accelerating uncertainty and faster churn. Training students to re-invent themselves every few years, as is already required in the world today, is an objective that legacy approaches to higher education is not optimized for. I’m convinced, however, that the University … Continue reading “Colleges Must Mix Entrepreneurial Skills, Traditional Liberal Arts”
In Search of a Better Approach to Breast Cancer Screening
As a venture investor in the healthcare sector, I see a lot of new medical technologies that promise improvement over the current standard of care. Opportunities that represent truly transformational change in medicine are rare, and those that address a major clinical challenge affecting tens of millions of lives are rarer still. Breast cancer screening … Continue reading “In Search of a Better Approach to Breast Cancer Screening”
Semprius Secures $1,691,906 New Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=89c03edc-89c5-445b-9ec9-5e14009159d4 Date 1/14/2015 Company Name Semprius Mailing Address 4915 Prospectus Drive Durham, NC 27713 USA Company Description Semprius, Inc. is commercializing a newly invented process for printing high performance single crystal semiconductors on any substrate, including glass, plastic and other semiconductor materials. Website http://www.semprius.com Transaction Type Debt Transaction Amount $1,691,906 Transaction Round … Continue reading “Semprius Secures $1,691,906 New Round”
Migraine Drug Developer CoLucid Lands $37.1M for Phase 3 Trial
CoLucid Pharmaceuticals has raised $37.1 million to finance late-stage clinical trials on a potential migraine drug that the company hopes will be a safer alternative to currently available migraine treatments. TVM Capital Life led the Series C round, which included participation from new investors Novo Ventures and Auriga Partners. Existing investors Pappas Ventures, Domain Associates, … Continue reading “Migraine Drug Developer CoLucid Lands $37.1M for Phase 3 Trial”
SmartLink Raises $2.5M for Mobile App Linking Patients, Physicians
[Updated 1/13/15, 4:55 pm. See below.] The telephone is a wonderful device for doctor/patient communication except for one drawback—both the doctor and the patient must be on the line at the same time. Cary, NC, startup SmartLink Mobile aims to overcome that hurdle with a mobile app that shows patients the familiar interface of a … Continue reading “SmartLink Raises $2.5M for Mobile App Linking Patients, Physicians”
Schools Should Nurture Kids’ Natural Knack for Entrepreneurship
I think the most important change we could make in education would be to put more emphasis on exposing kids to entrepreneurship, starting very early on. I’ve found that kids have a natural inclination towards entrepreneurship—we just need to give them the opportunity to learn and practice the skills they need to act on their … Continue reading “Schools Should Nurture Kids’ Natural Knack for Entrepreneurship”
CoLucid Pharmaceuticals Garners $37,100,000 Series C Funding
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=f4641675-06ea-4bb3-a620-d793304eb56b Date 1/13/2015 Company Name CoLucid Pharmaceuticals Mailing Address P.O. Box 14401 Durham, NC 27709 USA Company Description CoLucid Pharmaceuticals is an innovative biotechnology company focusing on therapies for central nervous system (CNS) disorders. CoLucid is leading a paradigm shift in migraine therapy with the clinical development of a first-in-class Neurally Acting … Continue reading “CoLucid Pharmaceuticals Garners $37,100,000 Series C Funding”
Seven Surprises About Convertible Notes That Founders Should Know
Over the past two years, there has been an explosion of the use of convertible notes for seed rounds. It used to be these debt instruments that convert to equity later at a discount to the price of the next round were only for small initial financings of, say, $250,000 for a company to get … Continue reading “Seven Surprises About Convertible Notes That Founders Should Know”
NC State Presses For $180M Plant Sciences Plan with Ag Industry
[Corrected 1/13/15, 9:12 a.m. See below] Agriculture is a $78 billion annual business in North Carolina, making it far and away the state’s largest industry. Now North Carolina State University is working on a $180 million plan that backers hope will grow that industry into a $100 billion market. To make that math work, the … Continue reading “NC State Presses For $180M Plant Sciences Plan with Ag Industry”
Physcient Garners $1,000,000 New Funding
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=a47d360b-1a9c-4b38-964f-109849b76e46 Date 1/12/2015 Company Name Physcient Mailing Address 112 S Duke St. Durham, NC 27701 USA Company Description Physcient develops new technologies for the life and health sciences. Website http://www.physcient.com Transaction Type Debt Transaction Amount $1,000,000 Transaction Round Undisclosed Proceeds Purposes Proceeds purposes were not disclosed. SEC regulatory filing. Contact technology company … Continue reading “Physcient Garners $1,000,000 New Funding”
East Coast Biotech Roundup: Pre-J.P. Morgan Preening Edition
It’s here again: J.P. Morgan week. Over the next few days, most everyone in healthcare will head to San Francisco for the industry’s biggest annual conference (a blessing for us East Coasters, who get a reprieve from the sub-zero wind chills). Typically there’s a big deal or two preceding the conference. This year? A stampede … Continue reading “East Coast Biotech Roundup: Pre-J.P. Morgan Preening Edition”
Milestones of Innovation 1: Hamilton’s 1790 Report on the Public Credit
Today is the 225th anniversary of a milestone in the history of American innovation. On January 9, 1790, the 35-year-old secretary of the Treasury of the United States sent the House of Representatives a 40,000-word blueprint for the new nation’s financial system. The report was produced just four months after Congress commissioned it. Proposing the … Continue reading “Milestones of Innovation 1: Hamilton’s 1790 Report on the Public Credit”
Even When Money is Easy, Rules of Biotech Finance Still Apply
Last month Juno Therapeutics closed a $250 million IPO, bringing the total raised since it was founded in Seattle in 2013 to close to $600 million. The money is earmarked to support more than ten clinical trials over the next 12 months. Last year, 133 biotech companies around the world raised $11 billion in initial … Continue reading “Even When Money is Easy, Rules of Biotech Finance Still Apply”
Sqord Obtains $3,171,339 New Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=bd5437dd-7137-44d4-a33a-3e7d81a957dc Date 1/7/2015 Company Name Sqord Mailing Address 201 West Main Street Durham, NC 27701 USA Company Description Sqord is making healthy, active play more fun for kids. With Sqord, you can score points, win competitions, earn medals, and get other online rewards with your friends simply by doing what you do. … Continue reading “Sqord Obtains $3,171,339 New Round”
Don’t Get Comfortable: 5 Biopharma Flashpoints to Consider in 2015
The annual J.P. Morgan healthcare conference starts this weekend in San Francisco. Pundits are predicting a much higher tally of shoulder injuries than usual. You know, from all the people patting themselves on the back. After a year filled with medical promise and cash raining down from everywhere, the self-congratulation could be thicker than the … Continue reading “Don’t Get Comfortable: 5 Biopharma Flashpoints to Consider in 2015”
Cempra Antibiotic Hits Pneumonia Goals; $100M Stock Sale Planned
With positive late-stage clinical trial data for its lead drug now in hand, Cempra (NASDAQ: [[ticker:CEMP]]) is preparing a $100 million stock offering to finance further work on the antibiotic, which some observers say has blockbuster potential. CEO Prabha Fernandes is not giving a timeline for filing solithromycin’s new drug application (NDA) with the Food … Continue reading “Cempra Antibiotic Hits Pneumonia Goals; $100M Stock Sale Planned”
Technology Upgrades: Welcome to My Nightmare (Yours Too?)
I was having coffee with a friend recently and the subject of word processing software came up. My friend related how he was happily using WordStar. WordStar? I hadn’t thought about it in years, but it was the first computer program I ever used, way back in 1984. I was surprised to find that not … Continue reading “Technology Upgrades: Welcome to My Nightmare (Yours Too?)”
Batanga.com Secures $5,000,000 New Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=ac425f7e-5c35-458c-8127-3d96c949a341 Date 1/6/2015 Company Name Batanga.com Mailing Address 2007 Yanceyville Street Greensboro, NC 27405 USA Company Description The company provides Latin music and products over the Internet. Website http://www.batanga.com Transaction Type Debt Transaction Amount $5,000,000 Transaction Round Undisclosed Proceeds Purposes Proceeds purposes were not disclosed. SEC regulatory filing. Contact technology company for … Continue reading “Batanga.com Secures $5,000,000 New Round”
Implications of the Oil Price Collapse
Instead of developing a warmed over list of “Top 10 Predictions for 2015,” over the past few months I have been most interested in the implications from the collapse of oil prices around the world. We will see the obvious and direct benefit to the U.S. consumer (November retail sales were up a surprising 0.7 … Continue reading “Implications of the Oil Price Collapse”
How Should the Innovation Community Solve Its Gender and Diversity Problems?
It’s been one of the hottest-button topics of the past year—and it’s not going away anytime soon. The under-representation of women and minorities in technology and innovation jobs is a real issue, particularly at the highest levels of organizations. The question, as I see it, is what to do about it. But not everyone sees … Continue reading “How Should the Innovation Community Solve Its Gender and Diversity Problems?”
So You Want to Be an Early Stage Investor?
I absolutely love what I do—running a seed-stage venture fund (Founders’ Co-op) and startup accelerator (Techstars Seattle)—but neither is a job with a well-defined career path. Unlike later-stage or public market investing, where finance and quantitative analysis is a big part of the job, effective early-stage investing requires a combination of human, strategic, and operational … Continue reading “So You Want to Be an Early Stage Investor?”