As publicity-shy Facebook co-founder and CEO Mark Zuckerberg testified before both houses of Congress last week amid an avalanche of criticism about the dearth of user privacy on the world’s biggest social media network, it became crystal clear that the entire social media industry has entered a new and perilous phase. Trust in all social media … Continue reading “Facebook: Lip Service to Privacy Is Over”
Category: Seattle
Cancer Wrap: Blueprint, Checkmate, More AACR News & Phase 3 Blues
The big headlines from the American Association for Cancer Research meeting in Chicago were all about the battle over the latest lung cancer data, and for good reason. Lung cancer remains the deadliest cancer, but the Phase 3 data suggest that treatment options for some of the direst cases could soon rapidly expand. There were … Continue reading “Cancer Wrap: Blueprint, Checkmate, More AACR News & Phase 3 Blues”
Grab the Early Bird Rate for What’s Hot in Seattle Biotech on June 12
Leaders from the life sciences industry are coming together for Xconomy’s special event on Seattle biotech on June 12 at Cambia Grove. Act now to get the best price on tickets for what we expect will be a sold-out event! Join us to hear from the Emerald City’s top life science entrepreneurs, scientists, investors, and … Continue reading “Grab the Early Bird Rate for What’s Hot in Seattle Biotech on June 12”
U.S. Funding for Biomedical Research Takes Upturn
At the end of March, Congress passed a $1.3 trillion spending bill to fund federal agencies for the rest of the fiscal year and avert another government shutdown. The 2,232-page legislation included a $3 billion funding increase for the National Institutes of Health (NIH), the second largest in the health agency’s history. Other research and … Continue reading “U.S. Funding for Biomedical Research Takes Upturn”
Adecco to Buy General Assembly for $412.5M to Grow Tech Workforce
The Adecco Group, the global staffing and worker training giant, has inked a $412.5 million agreement to acquire General Assembly, a tech training and career development company that offers courses online and at 20 campuses worldwide. The deal underscores the growing demand for software coding and other digital skills—and employers’ increased willingness to turn to … Continue reading “Adecco to Buy General Assembly for $412.5M to Grow Tech Workforce”
For More Lung Cancer Patients, the Promise of No Chemo Looms Larger
[Editor’s note: Ben Fidler co-authored this report.] A decade from now, it’s possible that immunotherapy will have made a big dent in lung cancer, which is by far the deadliest type of the disease. Drugs from several companies have worked their way forward, initially for patients who have failed chemotherapy, and now, in some cases, … Continue reading “For More Lung Cancer Patients, the Promise of No Chemo Looms Larger”
Bio Roundup: Lung Cancer Showdown, Gene Therapy Deals, IPO Busts
This weekend, cancer immunotherapy will once again take biopharma’s center stage. At one of the year’s big cancer meetings, investors, researchers, and many others will have a close eye on a group of presentations touting new lung cancer regimens that combine immunotherapies with other treatments. The presentations could shift the dynamics of the fast-moving landscape, … Continue reading “Bio Roundup: Lung Cancer Showdown, Gene Therapy Deals, IPO Busts”
No “Pink Tax”: Billie, a Shave Club for Women, Raises $6M
[Corrected, 4/11/18, 4:48 p.m. ET. See below.] Billie, a direct-to-consumer seller of monthly shaving and body care products subscriptions, has raised $6 million in new funding. The New York-based startup, which launched in November, previously raised $2.5 million. This latest round of funding was led by Silverton Partners in Austin and included existing investors Female … Continue reading “No “Pink Tax”: Billie, a Shave Club for Women, Raises $6M”
With New Data, Drug Combos, Lung Cancer Experts Scramble to Keep Pace
When oncologist Renato Martins finished his medical training, advanced lung cancer was almost certainly a quick death sentence. “I knew, by name, every patient who had survived two years,” he says. Thanks in large part to the arrival of cancer immunotherapy, things are much different today. While lung cancer remains by far the leading cause … Continue reading “With New Data, Drug Combos, Lung Cancer Experts Scramble to Keep Pace”
Circle CEO Allaire on Bitcoin, Blockchain & the Bank of the Future
Depending on whom you talk to, cryptocurrencies could be the biggest bubble in history or the backbone of the future global economy—or both. The reality is it’s too early to say. The industry must still navigate a host of issues, including wild price swings, global regulatory uncertainty, cyber threats, and technological limitations of blockchain systems, … Continue reading “Circle CEO Allaire on Bitcoin, Blockchain & the Bank of the Future”
Expectations Rise on Q1 Surge in Venture Funding; and Top 10 Deals
[Updated 4/11/18 10:13 am. See below.] Venture capital investors poured more than $28.2 billion into U.S. companies during the first three months of 2018—marking the strongest single quarter in at least a dozen years, according to the Venture Monitor Report released today by Seattle-based PitchBook and the National Venture Capital Association (NVCA). The $28.2 billion that … Continue reading “Expectations Rise on Q1 Surge in Venture Funding; and Top 10 Deals”
E-Commerce Startups Open Door to Endless Virtual Closet
The sharing economy is moving into our bedroom closets. We already apply this idea to transportation (Uber vs. taxi) and vacation accommodations (Airbnb vs. hotel). Now, thanks to a growing number of e-commerce companies, the ability to share goods and services is being applied to our wardrobes through programs that offer clothing rentals for a … Continue reading “E-Commerce Startups Open Door to Endless Virtual Closet”
Xconomy Roadmap 2018: Top 15 Innovation Areas to Watch
With the first quarter in the books, it’s time to step back and lay out Xconomy’s editorial map for the rest of the year. As readers know, we strive to cover a wide range of innovation sectors, from tech and life sciences to healthcare and education—all with a mix of on-the-ground reporting, daily news stories, … Continue reading “Xconomy Roadmap 2018: Top 15 Innovation Areas to Watch”
Bio Roundup: Ex-Kiters Say Allo, NASH Cash & Data, Alkermes No & More
Happy Friday, everyone. We’ll start this week with biotech deals, one featuring a couple of CAR-T heavyweights who have re-emerged after selling Kite Pharma for $12 billion. They will try to shepherd to market a different type of the promising cancer immunotherapy: allogeneic T cells that come from donors, not from a patient’s own blood. … Continue reading “Bio Roundup: Ex-Kiters Say Allo, NASH Cash & Data, Alkermes No & More”
Cleaner Vehicles Help Make Smarter Cities
Two of the most popular terms in urban planning today are smart cities and clean energy. These concepts naturally go hand-in-hand. As cities get smarter, they use energy more efficiently and in a more controllable fashion, and they are better able to incorporate intermittent clean energy sources. Cities, and the power grids that support them, … Continue reading “Cleaner Vehicles Help Make Smarter Cities”
With $25M in Tow, 6 River Systems Aims to Advance Warehouse Robotics
The land grab in the warehouse automation market is intensifying. After Amazon (NASDAQ: [[ticker:AMZN]]) paid $775 million for Kiva Systems in 2012, it began deploying the startup’s package-toting robots in its distribution centers worldwide—and stopped selling the machines to other companies. That move helped spur a new wave of warehouse robotics startups trying to meet … Continue reading “With $25M in Tow, 6 River Systems Aims to Advance Warehouse Robotics”
How Next-Gen Chipmakers Are Raising Money, Taking On Tech Giants
The advent of big fundraising rounds for startup chip innovators—a class shunned by most venture capital firms only a few years ago—seems to mark a turnaround in recent VC attitudes about semiconductor investments. But it turns out VCs weren’t the only driving force behind the change in fundraising prospects for the young companies now inventing … Continue reading “How Next-Gen Chipmakers Are Raising Money, Taking On Tech Giants”
Ex-Kite Execs Resurface with $300M and Control of Pfizer CAR-T Cells
Arie Belldegrun and David Chang steered Kite Pharma last year to a historic FDA approval and a $12 billion bear hug from Gilead Sciences. Now they’ve re-emerged with a new startup, Allogene, which has $300 million in backing and the rights to a CAR-T cell therapy program which is quite different from the one they … Continue reading “Ex-Kite Execs Resurface with $300M and Control of Pfizer CAR-T Cells”
Reports: Walmart Wants to Buy PillPack, as Healthcare Ambitions Grow
Walmart is reportedly talking with PillPack about acquiring the online pharmacy and medication management company, a deal that would strengthen the retail giant’s healthcare offerings and potentially help it fend off Amazon if the Seattle e-commerce company starts selling prescription drugs. The PillPack acquisition talks were first reported by CNBC and later confirmed by other … Continue reading “Reports: Walmart Wants to Buy PillPack, as Healthcare Ambitions Grow”
GE Sheds Health IT Assets for $1B, Doubles Down on A.I. and Devices
General Electric is selling a chunk of its healthcare IT business to New York private equity firm Veritas Capital for $1.05 billion in cash, as GE (NYSE: [[ticker:GE]]) chief executive John Flannery aims to streamline the Boston-based industrial behemoth and reverse a steep decline in its stock price. Veritas has agreed to acquire GE Healthcare’s … Continue reading “GE Sheds Health IT Assets for $1B, Doubles Down on A.I. and Devices”
Getting Personal: Retailers Use New Tech to Court Individual Shoppers
“Personalized shopping” has long been the guiding light for retailers. But in the age of Amazon (NASDAQ: [[ticker:AMZN]]), traditional stores have been searching for the best way to digitize what was once a person-to-person process. “Internet shopping is now across mobile and Web, and now, the [question] is, ‘How do we create great experiences for … Continue reading “Getting Personal: Retailers Use New Tech to Court Individual Shoppers”
WSJ: Walmart in Talks to Buy Humana, Eyeing Deeper Move into Health
Walmart, the world’s largest retailer, has engaged in preliminary talks with Humana about acquiring the commercial health insurer, the Wall Street Journal reported Thursday, citing anonymous sources familiar with the talks. Buying or merging with Humana (NYSE: [[ticker:HUM]]) would turn Walmart (NYSE: [[ticker:WMT]]) into one of the country’s biggest health insurers and advance the Bentonville, … Continue reading “WSJ: Walmart in Talks to Buy Humana, Eyeing Deeper Move into Health”
Bio Roundup: Biotech IPOs, Migraine Progress, Takeda Woos Shire & More
If the recent IPO activity seems to be on overdrive, it’s not your imagination. The number of companies filing to go public in the U.S. in the first quarter was up 44 percent compared to the same period a year ago, according to data compiled by consulting and accounting firm EY. Life science companies accounted … Continue reading “Bio Roundup: Biotech IPOs, Migraine Progress, Takeda Woos Shire & More”
Microsoft Executive Myerson to Leave Amid Corporate Restructuring
Terry Myerson, a Microsoft executive who oversees its Windows and devices divisions, will leave the Seattle technology giant as part of a major corporate restructuring, Microsoft CEO Satya Nadella said Thursday in an e-mail to employees at the company. In a LinkedIn post, Myerson thanked his colleagues and reflected on his time at Microsoft (NASDAQ: [[ticker:MSFT]]), … Continue reading “Microsoft Executive Myerson to Leave Amid Corporate Restructuring”
Get the Inside Scoop on Seattle Life Sciences at Xconomy’s June Event
Xconomy’s annual Seattle-area life sciences conference will be held on June 12 at Cambia Grove in the Emerald City’s downtown. “What’s Hot in Seattle Biotech” will look at what’s hot, and what’s next, for the Puget Sound region’s life sciences scene. It’s only March , but already this year, Seattle’s life science community has seen … Continue reading “Get the Inside Scoop on Seattle Life Sciences at Xconomy’s June Event”
Xconomy’s EXOME Presents: What’s Hot in Seattle Biotech
To highlight the strengths of Seattle’s life-science community, as well as its challenges, look no further than two major deals that kicked off 2018. The first was Microsoft’s agreement to pursue an ambitious multi-disease diagnostic test with Fred Hutch spinout Adaptive Biotechnologies. If it works, it would be a groundbreaking marriage of artificial intelligence and … Continue reading “Xconomy’s EXOME Presents: What’s Hot in Seattle Biotech”
Unum Therapeutics IPO Raises $69M to Test Universal Cell Therapies
Unum Therapeutics is the latest biotechnology company to take the plunge into the public markets, raising $69.2 million that it plans to use to fund more clinical tests of its experimental cancer treatments. The Cambridge, MA, company priced its initial public stock offering of 5.77 million shares at $12 each, which was on the low … Continue reading “Unum Therapeutics IPO Raises $69M to Test Universal Cell Therapies”
The Edge or the Cloud? It Depends on the App
There’s no arguing that the cloud has transformed the way organizations deal with data and apps. It has freed IT departments from constantly provisioning and managing storage, while bringing overall costs down. For these reasons and more, companies everywhere are moving more and more data and compute tasks to the cloud every day. It’s important, … Continue reading “The Edge or the Cloud? It Depends on the App”
Among Facebook’s Woes, EU’s Strict Privacy Laws May Loom Largest
In a continuing effort to regain the trust of its disillusioned users, Facebook on Wednesday announced new privacy controls where settings can be made from a central menu, rather than by tunneling through as many as 20 screens. As Facebook unveiled the sweeping revisions, though, it also made a striking admission: The company knew it … Continue reading “Among Facebook’s Woes, EU’s Strict Privacy Laws May Loom Largest”
Going Downhill: Roam Robotics’ Exoskeleton Supports Aging Skiers
Robotics has found its way to the ski slopes. San Francisco-based Roam Robotics has developed an exoskeleton, worn on the legs, that the company says will improve skiers’ endurance and safety while they blaze down trails. For skiers 45 or older, Roam says, the exoskeleton can provide vital support for aging knees that might be … Continue reading “Going Downhill: Roam Robotics’ Exoskeleton Supports Aging Skiers”
Smartsheet Plans to Go Public as More Tech Firms Explore IPOs
Smartsheet, a developer of collaborative software that allows users to track projects and manage corporate processes, said this week it is seeking to raise $100 million as part of a planned initial public offering. Bellevue, WA-based Smartsheet’s revenues and headcount have risen sharply in recent years, though it continues to lose money on an annual … Continue reading “Smartsheet Plans to Go Public as More Tech Firms Explore IPOs”
Are You Being Deliberate About Diversity in Your Investment Portfolio?
“We looked, but we couldn’t find any companies to acquire led by women or founders of color.” “I want to hire diverse talent, but it’s impossible to find.” “It’s not my fault that the financial sector doesn’t have a more varied talent pool or deals to make with non-white males.” I have heard all of … Continue reading “Are You Being Deliberate About Diversity in Your Investment Portfolio?”
FTC Opens New Probe: Revisits Its Old Charges On Facebook Privacy Practices
Among the host of legal woes Facebook is now confronting amid news about the misuse of its member profiles in election politics: The Federal Trade Commission revealed Monday that it is investigating the social media giant’s privacy practices. The FTC decision comes in the wake of recent reports about the ease with which political consulting … Continue reading “FTC Opens New Probe: Revisits Its Old Charges On Facebook Privacy Practices”
EY Report Suggests Improving Conditions for U.S. IPOs in 2018
U.S. IPO activity has been ticking up, with 36 IPOs raising more than $12.7 billion in the United States so far this year, according to data released Monday by EY, the global consulting and accounting firm. Although there are still several days remaining in the first quarter of 2018, EY reports the number of first-quarter … Continue reading “EY Report Suggests Improving Conditions for U.S. IPOs in 2018”
Ada-AI Seeks to Build a Diverse Artificial Intelligence Community
Artificial intelligence innovation has become part of our everyday lives—retailers use it to tailor the product recommendations they make; biotech companies hope it can create customized medicine. But its shortcomings, born of human biases, are becoming apparent as well. Take, for example, facial recognition technologies that work best on white people and make the most … Continue reading “Ada-AI Seeks to Build a Diverse Artificial Intelligence Community”
Founders, Pay Attention to This Stuff—Not the Stock Market
The Dow Jones Industrial Average. Nasdaq. Startup exits. Funding rounds. In our 24/7 connected world, there’s no shortage of data you can access, study, and agonize over. The market’s latest move—from boom to correction—has commentators and analysts in a tizzy; many investors are feeling anxious, too. It’s easy to get distracted by all this chatter, … Continue reading “Founders, Pay Attention to This Stuff—Not the Stock Market”
Bio Roundup: CMS Backs Cancer Tests, Right to Try Passes, AbbVie Sinks
We’ll start this week’s roundup with several stories from Washington, DC, that could have a lasting effect on public health. The FDA continued its campaign against cigarettes, while the Centers for Medicare & Medicaid Services (CMS) gave a much-needed boost to the developers of cancer diagnostics. In its omnibus spending bill, Congress set aside more … Continue reading “Bio Roundup: CMS Backs Cancer Tests, Right to Try Passes, AbbVie Sinks”
YouTube Limits Firearms Videos; Gun Rights Group Cries Censorship
YouTube has broadened its restrictions on gun-related videos, while thousands of Americans are mobilizing to demand stricter gun controls Saturday in a mass march spurred by young survivors of a deadly armed attack on a Florida high school last month. Google’s popular video-hosting site will bar videos that facilitate direct sales of firearms or accessories, … Continue reading “YouTube Limits Firearms Videos; Gun Rights Group Cries Censorship”
AbbVie Shares Plummet as $5.8B Bet on Stemcentrx Takes a Hit
There is still a chance that AbbVie’s $5.8 billion gamble on acquiring Stemcentrx, a privately held developer of cancer stem cell drugs, could pay off. But the deal’s prospects dimmed this morning with news that Stemcentrx’s lead drug disappointed in clinical testing, sending shares of Chicago-based AbbVie down. AbbVie (NYSE: [[ticker:ABBV]]) said that it won’t … Continue reading “AbbVie Shares Plummet as $5.8B Bet on Stemcentrx Takes a Hit”
At Opioid Hearing, BIO Exec Proposes Ways to Boost Pain Drug Development
After months of meetings and Congressional hearings on the unrelenting opioid addiction crisis, Congress has finally responded, with 25 bills that aim to attack the problem from all sides. The House Energy and Commerce Committee began two days of hearings on Wednesday that reviewed the draft legislation that lawmakers want to get to the House … Continue reading “At Opioid Hearing, BIO Exec Proposes Ways to Boost Pain Drug Development”
Hungry for Innovation, Big Food Firms Seek Alliances With Startups
Big Food is getting serious about innovation. Many top food companies are increasingly pumping money into supporting young, innovative startups, according to a recent analysis by CB Insights. The firms include stalwarts like Kraft Heinz (NASDAQ: [[ticker:KHC]]), which has an incubator and accelerator program called Springboard, and relative newcomers like the Greek-style yogurt maker Chobani, … Continue reading “Hungry for Innovation, Big Food Firms Seek Alliances With Startups”
Alder BioPharma’s Schatzman Steps Down as CEO by “Mutual Decision”
[Updated 3/21/18, 8:42 a.m. EDT. See below.] Alder BioPharmaceuticals is now looking for a new chief executive, just as the company readies plans to file for FDA approval of its lead drug for migraine headaches. Randy Schatzman (pictured above, right) is out as Alder’s (NASDAQ: [[ticker:ALDR]]) CEO, the Bothell, WA, company announced Tuesday after the markets … Continue reading “Alder BioPharma’s Schatzman Steps Down as CEO by “Mutual Decision””
Uber’s Driverless Fatality Sparks Fallout and Finger-Pointing
The fallout from Uber’s autonomous car fatality continues today, with a number of new developments. We’re recapping them very quickly here, and adding two reaction quotes we received from Carrie Morton, deputy director of the University of Michigan’s Mcity research facility and test bed, and Shahin Farshchi, a partner at Lux Capital, a Silicon Valley … Continue reading “Uber’s Driverless Fatality Sparks Fallout and Finger-Pointing”
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”
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”
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”
Teva’s Aycardi Named Chief Medical Officer of Xenon Pharma
Xenon Pharmaceuticals (NASDAQ: [[ticker:XENE]]) announced that Ernesto Aycardi will become the company’s chief medical officer. Aycardi, a neurologist, comes to Burnaby, British Columbia-based Xenon from Teva Pharmaceutical (NYSE: [[ticker:TEVA]]), where he was a vice president. His experience also includes positions at EMD Serono, Biogen Idec, and Merck (NYSE: [[ticker:MRK]]). Xenon is developing treatments for neurological … Continue reading “Teva’s Aycardi Named Chief Medical Officer of Xenon Pharma”
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”
Harnessing the Power of Artificial Intelligence
Voice recognition lets people benefit from artificial intelligence (AI) almost without a second thought – and this technology is increasingly popular. Amazon had record sales of its Alexa device last year, with millions sold over the holiday season. Google reports that since last October, it has sold at least one Google Home smart speaker every … Continue reading “Harnessing the Power of Artificial Intelligence”