Category: San Diego

AI Chip Startup Mythic Reaps $40M from SoftBank, Lockheed Venture Arms

Mythic, which last year unveiled its novel computer chip designed for artificial intelligence, announced today that it has raised $40 million in a Series B fundraising round led by the venture capital arm of Japanese telecom and tech giant SoftBank. Mythic, based in both Redwood City, CA, and Austin, TX, is one of the upstart … Continue reading “AI Chip Startup Mythic Reaps $40M from SoftBank, Lockheed Venture Arms”

Arena Pharma’s Revamp Gains Traction With New Data For GI Drug

Arena Pharamceuticals’ plan to reshape itself is advancing with new data for an ulcerative colitis drug that could pose a threat to biotech giant Celgene. San Diego, CA-based Arena (NASDAQ: [[ticker:ARNA]]) said late Monday that its experimental compound etrasimod has succeeded in a Phase 2 trial in patients with moderate-to-severe ulcerative colitis, a form of … Continue reading “Arena Pharma’s Revamp Gains Traction With New Data For GI Drug”

Uber Suspends Driverless Testing After Fatal Accident in Arizona

The inevitable has happened. An autonomous Uber car hit a pedestrian in Tempe, AZ, and caused her death. The ride-hailing giant has suspended testing on driverless cars in Arizona, Pittsburgh, San Francisco, and Toronto, according to the New York Times. This is the first known death of a pedestrian caused by a self-driving car on … Continue reading “Uber Suspends Driverless Testing After Fatal Accident in Arizona”

Job Destroyers or Helpers? Amazon, FedEx Hiring More Robots & Humans

Advances in robotics and artificial intelligence technologies have stoked fears that machines are coming for humans’ jobs in a variety of industries. Some executives of robotics companies have tried to allay those concerns, arguing that in many cases, people’s roles will evolve, but technology won’t eliminate their jobs completely. A report by The New York … Continue reading “Job Destroyers or Helpers? Amazon, FedEx Hiring More Robots & Humans”

CMS Starts to Cover Broad Cancer DNA Tests, Boosting Foundation, Thermo

The Centers for Medicare & Medicaid Services, which administers the federal Medicare insurance program, will begin covering FDA-approved diagnostic tests that scan tumors for a range of genetic mutations. The news is a boost for companies like Foundation Medicine and Thermo Fisher Scientific, who are among the few firms with such tests on the market. … Continue reading “CMS Starts to Cover Broad Cancer DNA Tests, Boosting Foundation, Thermo”

Five Unlikely Competitors in the Race for Driverless Cars: Slideshow

Now that we know autonomous vehicles are going to be a real thing, we are watching an entirely new industry unfold. Because of the sweeping societal changes that self-driving cars are likely to bring—they’ll change transportation the most, but also could affect the way we care for the elderly, live in our homes, deliver goods … Continue reading “Five Unlikely Competitors in the Race for Driverless Cars: Slideshow”

Four Developments to Watch as Embattled Qualcomm Seeks Path Forward

[Updated 3/16/18 3:30 pm. See below.] There’s never a dull moment these days at Building N, the San Diego headquarters of Qualcomm (NASDAQ: [[ticker:QCOM]]), the wireless technology giant and the world’s biggest maker of the advanced components used in smartphones. In the days since President Donald Trump preemptively killed Broadcom’s (NASDAQ: [[ticker:AVGO]]) unsolicited offer to … Continue reading “Four Developments to Watch as Embattled Qualcomm Seeks Path Forward”

Bio Roundup: DIY Biohacking, PCSK9 Data, Solid Setback & More

Drug prices are top of mind for many patients. Some of them have to cut back on basic needs just to pay for treatments that seem to rise in price each year. That made a recent announcement by Regeneron Pharmaceuticals particularly unusual. The Tarrytown, NY, drugmaker plans to cut the price of its cholesterol-lowering drug … Continue reading “Bio Roundup: DIY Biohacking, PCSK9 Data, Solid Setback & More”

Inclusion Gets Real: A New Level of Diversity Discourse at SXSW

Austin—There’s no question that humans have plenty of biases that carry on from generation to generation, from sexism to racism to homophobia. Those problems have carried over to machines, too—bias in the data fed to computer algorithms is an issue that comes up often. Former Stanford computer science professor Daphne Koller recalled an anecdote she … Continue reading “Inclusion Gets Real: A New Level of Diversity Discourse at SXSW”

Ionis Sends Nerve Drug to Spinout Akcea as Battle with Alnylam Looms

Ionis Pharmaceuticals hasn’t gone far to find a new home for a therapy that could soon be one of two approved treatments for a rare neurodegenerative disease called transthyretin amyloidosis. It’s handing the drug, known as inotersen, to its own spinout, Akcea Therapeutics. In a deal being announced this morning, Cambridge, MA-based Akcea (NASDAQ: [[ticker:AKCA]]) … Continue reading “Ionis Sends Nerve Drug to Spinout Akcea as Battle with Alnylam Looms”

Xconomy’s Napa Summit Is June 14-15: Request Your Invite Today!

Year after year, Xconomy has gathered exemplary business leaders, investors, and far-seeing technologists to our most prestigious event—The Napa Summit. This year is no different. Come join us in the heart of wine country on June 14 and 15 to listen to visionary speakers and connect with fellow innovators. The Napa Summit is by invitation-only, … Continue reading “Xconomy’s Napa Summit Is June 14-15: Request Your Invite Today!”

Dutch Biotech Raises $19M to Develop Psoriasis Drug Near San Diego

Escalier Biosciences BV, a biotech developing drugs for psoriasis and other autoimmune disorders, said it has raised $19 million in a Series B financing led by Forbion, a Dutch life sciences investor. Another Dutch investor, BioGeneration Ventures, and New York-based New Science Ventures joined the round, according to a statement from the company. While Escalier … Continue reading “Dutch Biotech Raises $19M to Develop Psoriasis Drug Near San Diego”

Walmart Expands Same-Day Delivery, Looks to Match Amazon

At the National Retail Federation’s annual conference in January, Walmart CEO Doug McMillon called the Arkansas-based, big-box retailer a technology company. On Wednesday, Walmart (NYSE: [[ticker:WMT]]) moved to make that assertion more of a reality: upping the number of cities where it provides same-day delivery to 100 cities from six—serving about 40 percent of American households … Continue reading “Walmart Expands Same-Day Delivery, Looks to Match Amazon”

Big VCs Join Xconomy in San Diego to Discuss Big Data, Big Biology

In the Boston office of GE Ventures, managing director Alex de Winter is overseeing investments in companies like Veracyte, which is applying machine learning to genomic sequencing technology to help doctors distinguish benign growths from cancer. At Intel Capital in the Bay Area, investment director Ranjeet Alexis is an expert in bioinformatics who is scouting … Continue reading “Big VCs Join Xconomy in San Diego to Discuss Big Data, Big Biology”

Crinetics Closes $63.5M Financing to Back Rare Hormone Disease Drug

Crinetics Pharmaceuticals, a San Diego biotech focused on developing new drugs for endocrine disorders and endocrine-related cancers, said today it has raised $63.5 million in a Series B financing led by Perceptive Advisors, the New York biotech fund. Two new investors, RA Capital and OrbiMed, joined the round, along with existing investors 5AM Ventures, Versant … Continue reading “Crinetics Closes $63.5M Financing to Back Rare Hormone Disease Drug”

No Self-Editing: Biohacker Josiah Zayner Can’t Stop Living Out Loud

Gene editing has arrived. Of the various forms of the technology, CRISPR-Cas9 is the easiest to use, and it’s already showing up in summer camps and school science labs near you. That would be middle schools. When everyone can edit an organism’s genes, how will the world change? Should we be worried? National security officials … Continue reading “No Self-Editing: Biohacker Josiah Zayner Can’t Stop Living Out Loud”

Too Many Venture Capital Cooks in the Kitchen?

At Correlation Ventures, we spend a fair amount of time using our proprietary database to identify the telltale signs of successful startups. One question we asked recently is whether there are diminishing returns for adding VCs to the board of directors at venture-backed startups. Many of us have seen highly effective boards where experienced and … Continue reading “Too Many Venture Capital Cooks in the Kitchen?”

President Trump Prohibits Broadcom from Acquiring Qualcomm

In a surprising statement late today from the White House, President Donald Trump unilaterally prohibited Broadcom’s proposed takeover of Qualcomm (NASDAQ: [[ticker:QCOM]]), the world’s biggest maker of chips for smartphones. Citing a recommendation from a national security panel and other factors set forth under federal law, the statement also proclaims that all candidates that Broadcom … Continue reading “President Trump Prohibits Broadcom from Acquiring Qualcomm”

The Minority Venture Capital Opportunity

This year marks the 30th Anniversary of the historic billion-dollar leveraged buyout of Beatrice Foods, put together by African-American business pioneer Reginald Lewis. As recently profiled in the PBS Documentary “Reginald Lewis and the Making of a Billion Dollar Empire,” Lewis was a business icon who paved the way for minority investors to ascend to … Continue reading “The Minority Venture Capital Opportunity”

Orexigen’s Weight-Loss Roller Coaster to End With a Bankruptcy Sale

Orexigen Therapeutics has filed for bankruptcy to sell its weight loss pill to the highest bidder. The news follows years of ups and downs for Orexigen, which piled up debt as it struggled to successfully market its obesity drug, known as Contrave. Orexigen (NASDAQ: [[ticker:OREX]]) has filed for Chapter 11 protection, which shields companies from … Continue reading “Orexigen’s Weight-Loss Roller Coaster to End With a Bankruptcy Sale”

Despite Pharma Ties, Some Patient Groups Protest High Drug Prices

For 20 years, Deborah Long (pictured) has been relying on powerful drugs to keep her multiple sclerosis in check. Her out-of-pocket costs were pretty reasonable until two years ago, she says, when she had to switch insurance companies. Her new insurer made her switch to a different drug, Copaxone. When she tried to fill the … Continue reading “Despite Pharma Ties, Some Patient Groups Protest High Drug Prices”

Proper Media Acquires Spoutable, Last Piece of Venture Studio

After learning that Proper Media, a San Diego specialist in programmatic digital advertising had acquired Spoutable, it took a couple weeks to catch up with Spoutable CEO Jon Belmonte and ask: What happened to Cursive Labs? Spoutable began more than three years ago as part of Cursive Labs, a kind of holding company for startups … Continue reading “Proper Media Acquires Spoutable, Last Piece of Venture Studio”

Regeneron to Slash Price of Cholesterol Drug After Showing It Saved Lives

Regeneron Pharmaceuticals and partner Sanofi report new data this morning from a large, highly-anticipated trial suggesting that their drug alirocumab (Praluent) may reduce the risk of death for people with high cholesterol who have recently suffered heart attacks or strokes and are at risk of having another one or dying. And in an unusual move, Regeneron—based … Continue reading “Regeneron to Slash Price of Cholesterol Drug After Showing It Saved Lives”

Price Check on Aisle 3: Grocers Use A.I., Devices to Battle Amazon

[Updated 3/13/18 1:07 pm. See below.] If a shopper interacts with technology in a typical grocery store, it’s usually at the very end—as they are paying for their items. That could be about to change, though. “Scanning loyalty cards at checkout is a lost opportunity,” says Eliahu Sussman, marketing manager at Aila Technologies, a Boston-area maker … Continue reading “Price Check on Aisle 3: Grocers Use A.I., Devices to Battle Amazon”

Bio Roundup: Trump Health, Cholesterol Wars, 23andMe OK & More

Trump administration health officials were out on the stump this week, talking tough about drug prices and healthcare value, encouraging the private sector to take the lead but letting everyone know the federal government is willing to push. In the debate over high drug prices, arguably no class of drug has been punished more by … Continue reading “Bio Roundup: Trump Health, Cholesterol Wars, 23andMe OK & More”

Big Data Meets Big Biology on April 26: Early Bird Rate Ends Soon

Xconomy will explore the confluence of “big biology” with “big data” at our half-day forum on April 26. Just as the computing industry opened the way to technologies that enabled people to manage and analyze information in unprecedented ways, a new era in biology is opening the way for new technologies for understanding and using … Continue reading “Big Data Meets Big Biology on April 26: Early Bird Rate Ends Soon”

Five Questions For: Melinda Richter, Global Head at JLabs

Healthcare innovation is very personal for Melinda Richter. She was an ambitious 26-year-old, posted by a global telecom company to Beijing as part of its fast-track leadership program. “I had the express intent of being president one day,” she says. “I thought I had the world by the tail.” But during a walk in the … Continue reading “Five Questions For: Melinda Richter, Global Head at JLabs”

San Diego Faces Its Future as a Tech Hub Without Qualcomm as Anchor

As Qualcomm (NASDAQ: [[ticker:QCOM]]) prepares for its annual shareholders meeting Tuesday, March 6, its takeover battle with Broadcom (NASDAQ: [[ticker:BRCM]]), has much of San Diego pondering a question reminiscent of a Joni Mitchell song: “Oh, don’t it always seem to go, that you don’t know what you’ve got ’til it’s gone?” If Qualcomm accepts Broadcom’s … Continue reading “San Diego Faces Its Future as a Tech Hub Without Qualcomm as Anchor”

Vividion Lands $101M from Celgene to Develop Protein-Targeting Drugs

Vividion Therapeutics is partnering with Celgene to develop new drugs that modulate protein levels as a way of treating disease. Celgene (NASDAQ: [[ticker:CELG]]) will pay San Diego-based Vividion $101 million up front, which includes an equity investment. The partnership will last four years, but Celgene, based in Summit, NJ, has the option to pay more … Continue reading “Vividion Lands $101M from Celgene to Develop Protein-Targeting Drugs”

With $75M Alumnus Gift, UCSD Opens Data Science Institute

Amid intensifying global demand for workers who can extract insights from zettabytes of data, the University of California, San Diego held a dedication ceremony Friday for its new Halicioğlu Data Science Institute. The center, made possible by a $75 million gift from UC San Diego alumnus and early Facebook employee Taner Halicioğlu, is intended to … Continue reading “With $75M Alumnus Gift, UCSD Opens Data Science Institute”

Walmart Unveils “Intelligent Food” System to Keep Produce Fresh

Food spoilage can cost big retailers like Walmart billions in losses. Now, the Arkansas-based giant says it has filed two patents on technology that can digitize the current inspection process for perishable goods. Called Eden, the initiative is in its early stages, but the idea is to use artificial intelligence and cameras to create a … Continue reading “Walmart Unveils “Intelligent Food” System to Keep Produce Fresh”

Mirror, Mirror On the Wall: How Does This Dress Look in Green?

These days, it’s not just Snow White’s stepmother who has a mirror that talks back. Thanks to augmented reality, Internet of Things, and data analytics technologies, more of us might be confronted with so-called “smart mirrors” the next time we try on clothes or accessories in a store. While mirrors are typically static pieces of … Continue reading “Mirror, Mirror On the Wall: How Does This Dress Look in Green?”

Bio Roundup: Funding Frenzy, Opioid Summit, Celgene Woes & More

Biotech startups rolled in cash this week. By our count, investors put more than $800 million into life-sciences startups in four days. The money came from a wide range of backers, not just traditional biotech venture firms. It’s early yet in 2018, but the current count could put life-sciences companies on pace to bust past … Continue reading “Bio Roundup: Funding Frenzy, Opioid Summit, Celgene Woes & More”

In 5D Deal, “Microlocation” Startup Humatics Eyes Smart Cities, Cars

As robots become more intelligent, mobile, and prevalent in everyday life, humans will have to figure out how to coexist with these more advanced machines. That prospect raises plenty of deep questions, but a simpler, more immediate concern is making sure mobile machines can navigate their surroundings without injuring humans or causing other kinds of … Continue reading “In 5D Deal, “Microlocation” Startup Humatics Eyes Smart Cities, Cars”

Sēqster Exits Stealth with Web-Based Tech for Managing Health Data

Sēqster, founded in 2016 to develop technology that enables individuals to aggregate and manage all of their own personal health information, emerged from stealth mode Wednesday. Comparing itself to the personal finance platform Mint.com, the San Diego startup says its platform integrates personal health information from a variety of sources, including electronic medical records (EMR), … Continue reading “Sēqster Exits Stealth with Web-Based Tech for Managing Health Data”

Helix Raises $200M to Build Its DNA “App Store” Beyond the Family Tree

Thanks to advertising blitzes from companies like Ancestry.com and 23andMe, Joe and Jane Consumer might know that their genetic blueprint and $100 or so can dig up insights about their genealogy. San Carlos, CA-based startup Helix is banking on that budding curiosity to provide a market for all kinds of consumer apps fueled by a … Continue reading “Helix Raises $200M to Build Its DNA “App Store” Beyond the Family Tree”

Securing the Door: Amazon Buys Connected Doorbell Maker Ring

Amazon (NASDAQ: [[ticker:AMZN]]) has acquired smart-doorbell security system maker Ring as the company seeks to expand its home-security business. The purchase was first reported by Geekwire, which cited a separate report from Reuters that the deal is valued at about $1 billion. That would make Amazon’s purchase of Ring the third largest in the Seattle e-commerce … Continue reading “Securing the Door: Amazon Buys Connected Doorbell Maker Ring”

Credtech Report Card: HackerRank, CodeFights, Credly, ACT, More

Educational technology companies are augmenting the traditional educational system with their online coursework offerings, but they’re also creating a competing universe where students can find alternate learning experiences that may qualify them for a job, even if they don’t have an academic degree. A core element in this universe is the invention of new kinds … Continue reading “Credtech Report Card: HackerRank, CodeFights, Credly, ACT, More”

Arcturus Fails to Ratify Auditor in Latest Fallout After CEO Firing

The schism between Arcturus Therapeutics’ board and its former chief executive is now putting the company at risk of missing key financial reporting deadlines, and possibly even losing its stock listing. The San Diego drug developer said late Monday that the typically routine step of ratifying the company’s auditor failed a shareholder vote. Arcturus (NASDAQ: … Continue reading “Arcturus Fails to Ratify Auditor in Latest Fallout After CEO Firing”

Bio Roundup: Meldonium Slip, Kratom Crackdown, Zinc Fingers & More

The 2018 Winter Olympics will end soon, and we did not skate through these games without a performance-enhancing drug allegation rearing its ugly head. This time, the drug in question was meldonium (Mildronate), a product widely available over the counter in Russia and some Eastern European countries. Though Latvian pharmaceutical company Grindeks markets meldonium for … Continue reading “Bio Roundup: Meldonium Slip, Kratom Crackdown, Zinc Fingers & More”

Smart Cities Initiative Spurs “Gigabit Apps” for Next-Gen Internet

In late 2015, the National Science Foundation awarded a $6 million grant to the non-profit organization U.S. Ignite to help drive the development of next-generation “gigabit applications,” as part of a broader effort to create “smart gigabit communities” throughout the U.S. The idea was to both help cities improve local services and spur the development … Continue reading “Smart Cities Initiative Spurs “Gigabit Apps” for Next-Gen Internet”

Forget Perfume Counters: Phlur’s A.I. Is E-Commerce’s Scent Sherpa

Austin—It stands to reason that if any industry could resist the tidal wave of e-commerce, it would be the fragrance business. After all, how can you smell a perfume or cologne online to decide if you like the scent? But Eric Korman, founder and CEO of Phlur, says the startup can make it easier for … Continue reading “Forget Perfume Counters: Phlur’s A.I. Is E-Commerce’s Scent Sherpa”

XRC Labs Chief Anthos: Retailers Must Adopt “Test and Learn” Culture

As college undergraduates, my roommate and I had what we called a “monowardrobe.” That’s how we described the contents of the closet that lined a wall in our dorm room. We each organized our own clothing on either side, but since we both wore the same size in clothing and shoes, we “shopped” for outfits … Continue reading “XRC Labs Chief Anthos: Retailers Must Adopt “Test and Learn” Culture”

Bio Roundup: Trump’s Budget, Biogen’s AD Reveal, Hugin’s Run & More

Another week of White House chaos and American gun violence. Amid it all, we tried to parse what the Trump administration’s 2019 budget proposal meant for the biomedical and life-science worlds. There was talk of tackling high drug prices in the budget document, but nothing to give Medicare direct negotiating power with drug companies or … Continue reading “Bio Roundup: Trump’s Budget, Biogen’s AD Reveal, Hugin’s Run & More”

Europe’s New Data Privacy Rules Nourish U.S. Privacy Tech Sector

Take a look at this blurb for a session about data privacy at the upcoming RSA conference on cybersecurity. It sounds a polite warning: “The importance of privacy is often alluded to in generalized, value-laden terms that, while sincere, don’t necessarily help privacy be taken seriously in the enterprise risk management process.” That situation is … Continue reading “Europe’s New Data Privacy Rules Nourish U.S. Privacy Tech Sector”

Celularity Raises $250M to Make Stem Cell Treatments for Cancer & More

The placenta provides a fetus all of the nourishment it needs to grow and remain healthy. Executives at biotech startup Celularity believe cells from this organ can also be developed into treatments for a wide range of diseases, and the company announced Thursday that it has $250 million in funding to move its plans forward. … Continue reading “Celularity Raises $250M to Make Stem Cell Treatments for Cancer & More”

FDA OKs Banyan Diagnostic, the First Blood Test for Concussions

The FDA has approved the first blood test to help diagnose concussions, clearing a path to the market for a diagnostic that could reduce the use of expensive brain imaging technologies that expose patients to radiation. The approval goes to San Diego diagnostics developer Banyan Biomarkers. The company’s test, called Banyan BTI (short for brain … Continue reading “FDA OKs Banyan Diagnostic, the First Blood Test for Concussions”