Boston Scientific is adding on to its heart rhythm management business again, this time with a deal to acquire atrial fibrillation device startup Cryterion Medical for $202 million. The cash payment covers the 65 percent of Cryterion that the Marlborough, MA, medical device giant does not already own. Boston Scientific (NYSE: [[ticker:BSX]]) had been an … Continue reading “Boston Scientific Continues M&A Streak with $202M Deal for Cryterion”
Category: San Diego
The Empathy Economy: Emotional Intelligence in Customer Service
The “empathy economy” will help define the new reality of human and machine interactions in the customer service industry. A takeoff on the sharing economy, the empathy economy will grow due to brand mania and increased automation in the workplace. Consumers are inundated by brands in their day-to-day lives, and these brands sometimes create personal … Continue reading “The Empathy Economy: Emotional Intelligence in Customer Service”
Automation Anywhere Scores $250M to Globalize Bot Workforce
Automation Anywhere, which supplies customers with armies of software robots to take over manual tasks such as insurance claims processing, announced today it raised $250 million in a first funding round that set its post-money valuation at $1.8 billion. The San Jose, CA-based company, begun in 2003 by four co-founders who bootstrapped its funding, has … Continue reading “Automation Anywhere Scores $250M to Globalize Bot Workforce”
In Celebration of Bruce Bigelow: Our Memories, His Playlist
[Updated, 7/5/18. See below] Bruce Victor Bigelow, editor of Xconomy San Diego, passed away Friday afternoon, June 29, at the age of 63. He had suddenly fallen ill less than a week earlier, after he returned to San Diego from a hiking trip in Utah. Our initial post about Bruce’s death is here. And the … Continue reading “In Celebration of Bruce Bigelow: Our Memories, His Playlist”
Virtual Physical Therapy Firms Reflexion and MindMaze Probe Markets
For most patients—and for many drug developers—healthcare reimbursement policies can present a daunting maze of restrictions and uncertainties. But for some tech companies, those policies can be accelerants that boost the chances that new products will be adopted. That’s the case for Reflexion Health, which benefits from U.S. insurance coverage regulations that create openings for … Continue reading “Virtual Physical Therapy Firms Reflexion and MindMaze Probe Markets”
Study: Blood Test for Prostate Cancer Can Guide Therapy, Extend Lives
Blood tests for cancer, known as liquid biopsies, have become available in recent years to guide treatments for people already diagnosed. But how useful are they? A paper published last week in the journal JAMA Oncology makes the case that one such test, Oncotype DX AR-V7 Nucleus Detect, might be worth its $3,980 price tag. … Continue reading “Study: Blood Test for Prostate Cancer Can Guide Therapy, Extend Lives”
Xconomy Mourns the Loss of San Diego Editor Bruce Bigelow
[Updated, 7/5/18. See below] It is with profound sadness that we at Xconomy say goodbye to our longtime friend and editor of Xconomy San Diego, Bruce Bigelow. An outstanding journalist, colleague, and friend, and a fixture of the San Diego innovation scene, Bruce passed away today at age 63 after a brief illness. We are … Continue reading “Xconomy Mourns the Loss of San Diego Editor Bruce Bigelow”
Best Reads for Casual Friday: Cybersecurity (And Some Amazon, Too)
You’ve made it to Friday—it’s time to take a step back, prepare for a relaxing weekend, and read a few stories about the endless ways in which your personal information can be stolen. OK, maybe it’s better to spin it like this: Here are some of the most interesting reads from this last week on … Continue reading “Best Reads for Casual Friday: Cybersecurity (And Some Amazon, Too)”
Bio Roundup: Big Bucks For Calico, Data Dumps & The IPO Wave Rolls On
If you’re running a privately held biotech, the time to go public is now. Clinical data already in hand or not, biotechs have charged to Wall Street at a record pace over the past two weeks, raising more than $1 billion in offerings that all met or exceeded their projected valuations. And there are no … Continue reading “Bio Roundup: Big Bucks For Calico, Data Dumps & The IPO Wave Rolls On”
IPO Wave Rolls On as Five Life Science Firms Haul In $651M
A week after seven biotechs went public, setting a new record for the Nasdaq, five more life sciences companies have joined the club. The latest crop continued the positive momentum for life sciences offerings, as the group either met or exceeded their projections and raised a total of $651 million. Neon Therapeutics (NASDAQ: [[ticker:NTGN]]) was … Continue reading “IPO Wave Rolls On as Five Life Science Firms Haul In $651M”
BitSight Picks Up $60M to Fend Off Rivals in Cybersecurity Ratings
BitSight Technologies is restocking its war chest to try and win the emerging market for cybersecurity ratings. Today the Cambridge, MA-based tech company announced it raised $60 million in a Series D funding round led by Warburg Pincus, the global private equity firm that has backed the likes of CrowdStrike in cybersecurity, DBRS in credit … Continue reading “BitSight Picks Up $60M to Fend Off Rivals in Cybersecurity Ratings”
Cibus Raises $70M for Marketing of Gene-Edited Canola, More R&D
Sales of Cibus’ first product, a gene-edited canola, have gone so well that the San Diego company has raised $70 million in new financing to boost its commercialization efforts. The Series C round of funding announced Tuesday was led by Fidelity Management and Research Company, and was joined by Alexandria Venture Investments, Cormorant Asset Management, … Continue reading “Cibus Raises $70M for Marketing of Gene-Edited Canola, More R&D”
Senators Grill HHS’s Azar on Drug Price Cuts That Have Yet to Come
When President Trump signed legislation last month allowing seriously ill patients the “right to try” unapproved drugs without FDA oversight, he voiced a bold prediction: Within two weeks, he said, drug companies would announce “voluntary massive drops in prices.” Asked for further detail, the Department of Health and Human Services (HHS) declined to elaborate on … Continue reading “Senators Grill HHS’s Azar on Drug Price Cuts That Have Yet to Come”
How the Rise of Beijing and Shanghai Tech May Impact Silicon Valley
When it comes to startup tech hubs, U.S. cities from San Francisco to Austin to Boston come first to mind. But that is starting to change, as Asian cities—particularly in China—are snapping up more tech venture capital funding and exits, according to a new report from CB Insights. Silicon Valley tech startups pulled in the … Continue reading “How the Rise of Beijing and Shanghai Tech May Impact Silicon Valley”
As Cybersecurity Business Expands, Proficio Offers Risk Scoring
In a bid to differentiate itself from the crowd of cybersecurity companies offering network monitoring services, Carlsbad, CA-based Proficio said it has developed a risk-scoring system that assesses its customers’ network security controls. In addition to highlighting each customer’s vulnerabilities to cyber-attack, Proficio said its new ThreatInsight software dashboard offers recommendations on how a customer … Continue reading “As Cybersecurity Business Expands, Proficio Offers Risk Scoring”
Catalog Hauls In $9M to Make DNA-Based Data Storage Commercially Viable
The practice of encoding data in DNA molecules could be inching closer to graduating from research labs to finding practical commercial use. In the coming years, the explosion of data being generated by computing devices could outstrip the supply of hard drives needed to store it, some industry experts say. Some academic researchers and business … Continue reading “Catalog Hauls In $9M to Make DNA-Based Data Storage Commercially Viable”
Stitch Fix CTO Polinsky Says Its Style Shuffle Game Makes Data Fun
When Cathy Polinsky became chief technology officer of Stitch Fix in late 2016, she knew one of the San Francisco-based company’s key challenges was continually refining its core software algorithm to make sure customers received the right tailored suggestions in their monthly wardrobe boxes. So, she made it into a game. Style Shuffle is a … Continue reading “Stitch Fix CTO Polinsky Says Its Style Shuffle Game Makes Data Fun”
Evofem’s David Friend Appointed Daré Bio Chief Scientific Officer
David Friend has been appointed chief scientific officer of San Diego-based Daré Biosciences (NASDAQ: [[ticker:DARE]]). Friend comes to Daré from another San Diego biotech company, Evofem Biosciences (NASDAQ: [[ticker:EVFM]]), where he was chief scientific officer. Daré develops treatments focusing on women’s reproductive health. The company gained its public stock listing last year through a reverse … Continue reading “Evofem’s David Friend Appointed Daré Bio Chief Scientific Officer”
Some of the Best Reads for Casual Friday: Artificial Intelligence
Fridays can be the most productive work day, as you look to shore up everything before the weekend starts. Or, maybe instead, it’s a day filled with long lunches and listless Internet surfing, as you seek out all the interesting articles you missed during the week. Fear not: Xconomy has done the work for you, … Continue reading “Some of the Best Reads for Casual Friday: Artificial Intelligence”
Bio Roundup: Duchenne Data, Roche Buys Foundation, IPO Wave & More
Biotech financing is a cyclical thing. Two years ago, the IPO window was unlatched but a number of companies ended up withdrawing their stock offerings. Others that pushed their IPOs through couldn’t sell shares at the price they wanted. This year, the IPO window is wide open. A total of 93 IPOs have priced as … Continue reading “Bio Roundup: Duchenne Data, Roche Buys Foundation, IPO Wave & More”
Intel CEO Resigns After Board Learns of His Relationship With Employee
Intel (NASDAQ: [[ticker:INTC]]) announced Thursday that CEO Brian Krzanich has resigned in the wake of the company’s recent discovery that he had been involved in a past consensual relationship with an Intel employee. The relationship violated Intel’s non-fraternization policy—the finding of an ongoing investigation by internal and external counsel, the company said in a written … Continue reading “Intel CEO Resigns After Board Learns of His Relationship With Employee”
Latticework Launches Personal Hybrid Cloud for Private Data-Sharing
Were you aghast at revelations that third-party organizations were able to capture millions of Facebook profiles from users who were unaware of the company’s privacy policy terms? If so, a Silicon Valley startup is hoping to entice you with a new option for private data storage of your personal digital life, along with private channels … Continue reading “Latticework Launches Personal Hybrid Cloud for Private Data-Sharing”
Bio IPO Madness: Six Biotech Startups Raise $568M in 24 Hours
The window for biotech IPOs remains wide open and six more companies have charged through it, raising more than $568 million in the span of 24 hours. The first was Eidos Therapeutics (NASDAQ: [[ticker:EIDX]]), which raised $106 million in its stock market debut. The San Francisco company priced its IPO late Tuesday, selling 6.25 million … Continue reading “Bio IPO Madness: Six Biotech Startups Raise $568M in 24 Hours”
CrowdStrike Hauls In $200M, Reports Valuation Over $3 Billion
CrowdStrike, a Silicon Valley cybersecurity company that fends off hackers by patrolling the edge devices connected to a network, announced today it raised $200 million in a financing round that sets the company’s valuation at more than $3 billion. Sunnyvale, CA-based CrowdStrike, as an endpoint protection and response platform, uses next-generation antivirus software, scans for … Continue reading “CrowdStrike Hauls In $200M, Reports Valuation Over $3 Billion”
Biotech Beware, Your Culture Is Showing
In a recent survey of 220 scientists, 60 percent of the respondents reported having experienced harassment at a conference at some point in their careers. Even more astounding is the fact that 82 percent of those who reported harassment did not report it when it occurred. That’s why it’s easy to say, “How big of … Continue reading “Biotech Beware, Your Culture Is Showing”
Bio Roundup: Not-BIO Party Foul, CRISPR Drama, Sickle Cell Updates
This week brought a sobering reminder of how far away we are from true gender equality in the life sciences. An industry party held during BIO’s annual meeting in Boston last week featured scantily clad women with company logos painted on their bodies—two years after the infamous party at the J.P. Morgan party in San … Continue reading “Bio Roundup: Not-BIO Party Foul, CRISPR Drama, Sickle Cell Updates”
For Sickle Cell, a Complex Disease, New Drugs Could Bring Complex Costs
Cassandra Trimnell has sickle cell disease. She also loves to travel. For her 30th birthday last year, she and her husband planned a trip to Indonesia, and she figured she would be fine. Growing up in Iowa, she was sick all the time, in and out of hospitals with severe pain episodes, or “crises,” and … Continue reading “For Sickle Cell, a Complex Disease, New Drugs Could Bring Complex Costs”
GE Plans a Sale as San Diego Smart City Project Nears Completion
In another month or two, a General Electric (NYSE: [[ticker:GE]]) subsidiary is expected to complete the installation of an intelligent lighting system in San Diego that’s been billed as “the world’s largest municipal Internet of Things.” The Boston-based subsidiary, Current by GE, began work earlier this year for the city of San Diego on a … Continue reading “GE Plans a Sale as San Diego Smart City Project Nears Completion”
Benchling Scores $14.5M to Grow Online Lab Notebook for Bio-Researchers
New immunotherapy approaches to cancer treatment, and the CRISPR technology for editing genetic material in cells, are among the most sophisticated research strategies scientists are using in their quest to defeat disease. But as researchers develop these techniques based on manipulating biological molecules, they may still be recording their experimental results by a method untouched … Continue reading “Benchling Scores $14.5M to Grow Online Lab Notebook for Bio-Researchers”
In Digital Device Boom, Tear Film Sees Window for Dry Eye Treatment
The source of your eye discomfort might be cradled in your hands. If you’re like many people, your eyes spend much of the day fixed on digital displays. Before reading this, maybe you watched videos on a tablet or scanned social media on your phone. Try to remember the last time you blinked. Come to … Continue reading “In Digital Device Boom, Tear Film Sees Window for Dry Eye Treatment”
New York Fashion Tech Lab Connects Retail to Crucial Innovations
Amazon is fundamentally disrupting how and where we shop, but in-store retail still has life in it. The Seattle e-commerce giant is “a hefty competitor, but that doesn’t mean brands and retailers don’t have the ability to fight back,” says Kay Koplovitz, co-founder and managing partner of Springboard Growth Capital in New York. In fact, … Continue reading “New York Fashion Tech Lab Connects Retail to Crucial Innovations”
Rockwell Automation Pouring $1B into PTC to Push Connected Factories
Rockwell Automation is investing $1 billion in PTC, as the two companies team up to advance their vision of software-driven factories and industrial operations. The companies said Monday they expect their “strategic partnership” to boost both businesses by strengthening their pitch to customers around the world who are interested in enhancing their physical operations with … Continue reading “Rockwell Automation Pouring $1B into PTC to Push Connected Factories”
Halozyme, Edico CEOs Among San Diego’s Entrepreneurs of the Year
Helen Torley, who was highlighted in 2016 as the only female CEO of a public life sciences company in San Diego, was recognized last week for her operational excellence at Halozyme Therapeutics (NASDAQ: [[ticker:HALO]]). Torley, who joined San Diego-based Halozyme as CEO in 2014, was among five local business leaders to win the 2018 San … Continue reading “Halozyme, Edico CEOs Among San Diego’s Entrepreneurs of the Year”
Data Centers on Wheels: How Intel Plans to Capitalize on Mobility
Intel sealed its commitment to become a player in the burgeoning autonomous vehicle industry when it bought computer vision company Mobileye for more than $15 billion in 2017. The venerable Santa Clara, CA-based chipmaker is betting that its data analytics and connectivity chops—as well as its semiconductors—combined with Mobileye’s computer vision and mapping functions, will … Continue reading “Data Centers on Wheels: How Intel Plans to Capitalize on Mobility”
Startup CureMatch Wins $35,000 Grand Prize in Global Trade Pitchfest
CureMatch, a San Diego startup with technology to help doctors choose the best combination of anti-cancer treatments based on an analysis of each patient’s tumor, took home a $35,000 grant intended to help companies expand overseas. The cash, awarded last Thursday, was the grand prize in the annual MetroConnect contest organized by the World Trade … Continue reading “Startup CureMatch Wins $35,000 Grand Prize in Global Trade Pitchfest”
Teradata Moving Headquarters to San Diego as Part of Consolidation
Teradata (NYSE: [[ticker:TDC]]), a specialist in data warehousing, business analytics, and consulting services, disclosed this week that it plans to move its corporate headquarters from Dayton, OH, to San Diego by the end of the year. The move is part of a broader corporate consolidation, according to a June 6 regulatory filing. Teradata has maintained … Continue reading “Teradata Moving Headquarters to San Diego as Part of Consolidation”
Bio Roundup: Wrapping ASCO, Dreaming IPO, Rebooting Axovant & More
Most of the cancer news this week happened at the massive ASCO meeting in Chicago. But not all, as we’ll see in a moment. Also this week, Biogen and Eisai reported good news about an Alzheimer’s drug, but with plenty of caveats. Axovant Sciences, which hit the skids last year because of a massive Alzheimer’s … Continue reading “Bio Roundup: Wrapping ASCO, Dreaming IPO, Rebooting Axovant & More”
Biogen Makes Another Small Bet With Option Deal for TMS Stroke Drug
Biogen has yet to make the big, transformative buyout Wall Street investors have hoped for. But it continues to place small bets to build up its neurology pipeline. The latest is a deal to pick up a compound now in mid-stage testing in stroke victims. Cambridge, MA-based Biogen (NASDAQ: [[ticker:BIIB]]) said Thursday that it will … Continue reading “Biogen Makes Another Small Bet With Option Deal for TMS Stroke Drug”
Waze for the Sky: GE Drone Venture AiRXOS Takes Flight
Despite all the hype and business investment, drones are mostly flown by hobbyists and the military these days, says Ken Stewart. But if he and other drone supporters have their way, the sky will eventually be dotted with unmanned aircraft delivering packages to consumers, transporting organs between hospitals, conducting search missions in remote areas, inspecting … Continue reading “Waze for the Sky: GE Drone Venture AiRXOS Takes Flight”
No Vital Signs Apparent at Wireless Health Specialist Awarepoint
Awarepoint, the San Diego healthtech startup that specialized in real-time location systems for tracking medical equipment and people in hospitals and clinics, has gone 404. That’s the error code message that comes up for a website that no longer exists. Awarepoint executives and board members could not be reached to comment on a recent tip … Continue reading “No Vital Signs Apparent at Wireless Health Specialist Awarepoint”
ASCO Wrap: Cancer Combos, Precision Meds, Stock Movers & More
The American Society of Clinical Oncology annual meeting, the world’s largest cancer conference, wraps up today in Chicago. Investors have dissected the data, picked winners and losers, and sent some biotech stocks soaring and others tumbling. In the days before ASCO, Xconomy previewed two major themes: the feverish and flawed race to develop cancer immunotherapy … Continue reading “ASCO Wrap: Cancer Combos, Precision Meds, Stock Movers & More”
Biotech’s Looming Talent Crisis: 5 Ways to Prepare for the Storm
Finding and keeping great talent has always been a limiting factor for building companies—and even more so in the life science industry, which requires highly specialized skills. As an executive recruiter focused solely on life sciences, I know firsthand the challenges of filling key executive roles, and I’m often the first to see signs of … Continue reading “Biotech’s Looming Talent Crisis: 5 Ways to Prepare for the Storm”
Xconomy’s Napa Summit Is June 14-15: Last Call for Invites
Just 10 days to go—but it’s not too late to request your invitation to Xconomy’s most unique and thought-provoking event of the year: our annual Napa Summit: The Xconomy Retreat on Technology, Jobs, and Growth. We only have a few spots left open, so get your wine on and request your invitation today. You will … Continue reading “Xconomy’s Napa Summit Is June 14-15: Last Call for Invites”
Price Check on Aisle 3: Retailers Turn to Robots to Manage Inventory
Inventory management is crucial to operating a successful retail operation. And as hard as it may be to believe, retailers “don’t really know what’s on the shelves,” says Sarjoun Skaff, founder and CTO of Bossa Nova Robotics. A combination of the sheer number of products a retailer like Walmart has on offer and the pace … Continue reading “Price Check on Aisle 3: Retailers Turn to Robots to Manage Inventory”
Loxo Unveils More Data, Paves a Path Forward In Precision Oncology
An experimental cancer drug from Loxo Oncology has shown early signs that it might impact multiple tumor types, regardless of where in the body they originated. The clinical results come with caveats, but they add to a slowly growing body of evidence supporting so-called tumor “agnostic” drugs, which are markers for the progress of precision … Continue reading “Loxo Unveils More Data, Paves a Path Forward In Precision Oncology”
With $40M Banked, Escient Building for Fast Move to Human Trials
In the weeks since Escient Pharmaceuticals made its debut, the San Diego biotech has found lab space atop San Diego’s Torrey Pines Mesa and is recruiting scientists with experience developing drugs that target G protein-coupled receptors (GPCRs). Escient’s co-founders, CEO Alain Baron and chief scientific officer Marcus Boehm, have been busy, and it took a … Continue reading “With $40M Banked, Escient Building for Fast Move to Human Trials”
Drug Price Watchdog ICER Deems Amgen Migraine Drug “Cost-Effective”
As Amgen approached an FDA decision last month for its migraine-prevention treatment, concern mounted that the drug would come at premium. In setting a price thousands of dollars less than expected, Amgen has won over one of the pharmaceutical industry’s fiercest drug price critics. The non-profit Institute for Clinical and Economic Review (ICER) assessed the … Continue reading “Drug Price Watchdog ICER Deems Amgen Migraine Drug “Cost-Effective””
Biotech Roundup: ASCO Ahead, CAMP4’s Cash, Ambien Tweeting & More
For the next five days, the oncology community’s attention will focus on Chicago. The Windy City is the home for the American Society of Clinical Oncology’s annual meeting, and it kicks off today. Many ASCO attendees will zero in on potential cancer drug combinations. They’re seen as the key to expanding the reach of caner … Continue reading “Biotech Roundup: ASCO Ahead, CAMP4’s Cash, Ambien Tweeting & More”
Arcturus Reinstates Fired CEO After Regime Change in Boardroom
The San Diego RNA drug developer Arcturus Therapeutics (NASDAQ: [[ticker:ARCT]]) on Thursday reinstated fired CEO Joseph Payne and named ResMed (NYSE: [[ticker:RMD]]) founder Peter Farrell as chairman of the company’s new board of directors. The four members of the company’s previous board, who resigned as part of an agreement reached last weekend, fired Payne in … Continue reading “Arcturus Reinstates Fired CEO After Regime Change in Boardroom”
Drugs OK’d To Hit Tumor Genes Still a Basket of One. Are More Coming?
[Corrected 6/4/18, 1:53 a.m. ET. See below.] One year ago, the FDA made biomedical history. A cancer drug, pembrolizumab (Keytruda), was approved to treat tumors with a specific genetic fingerprint regardless of their location in the body. It was the first tissue-agnostic approval of a cancer drug, and it was a big shift for the … Continue reading “Drugs OK’d To Hit Tumor Genes Still a Basket of One. Are More Coming?”