“In the new world, it is not the big fish which eats the small fish, it’s the fast fish which eats the slow fish…” — Klaus Schwab, Founder/Executive Chairman, World Economic Forum Over the past decade, the nature of innovation has changed—even as the pace has substantially increased. One of the reasons has been the ability … Continue reading “The Power of the Cloud for Life Science R&D”
Category: Seattle
Eli Lilly Commits $15M More to Seattle Institute’s TB Drug Search
Eli Lilly unveiled plans today to expand its work treating disease in the developing world, pledging $90 million to improve access to healthcare for 30 million people worldwide by 2030. Nestled in Indianapolis-based Eli Lilly’s (NYSE: [[ticker:LLY]]) plan is $15 million earmarked for the Infectious Disease Research Institute in Seattle. Though that sum is a … Continue reading “Eli Lilly Commits $15M More to Seattle Institute’s TB Drug Search”
After “Hubris” and Its HCV Collapse, Can Vertex Avoid Same Mistakes?
Five years ago, in November 2011, a company from Princeton, NJ, called Pharmasset shared news that would have an impact on millions of people around the world with hepatitis C. Its experimental drug PSI-7977 had quickly cleared the virus from 40 patients, with minimal side effects, and they had stayed infection-free. If the data held … Continue reading “After “Hubris” and Its HCV Collapse, Can Vertex Avoid Same Mistakes?”
Ex-Celgene Dealmaker Tom Daniel Charts a New Course Advising Biotechs
For close to a decade, Tom Daniel and George Golumbeski comprised perhaps one of the best-known dealmaking duos in biopharma, striking a slew of alliances that established Summit, NJ-based Celgene as one of the more creative, nimble biotech partners in the business. “We think alike,” Daniel says. “We can pretty much finish each other’s sentences.” … Continue reading “Ex-Celgene Dealmaker Tom Daniel Charts a New Course Advising Biotechs”
Zipwhip Receives $9,000,000 Series B Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=0deb9314-9e33-4fa8-b9b9-7c1fd3b3a3f3 Date 10/17/2016 Company Name Zipwhip Mailing Address 2401 4th Avenue Seattle, WA 98121 USA Company Description For over 4 years Zipwhip has been laser focused on text messaging and the unique characteristics that have made it such a widely adopted medium. While billions of consumers globally have grown to embrace its … Continue reading “Zipwhip Receives $9,000,000 Series B Round”
Seattle Week in Review: Read It While You Still Can
A hard rain’s a gonna fall, and the wind begins to howl. Quick, before Typhoon Songda goes through bombogenesis and knocks out the power, catch up on this week’s leaf-clogged, overflowing storm drain of Seattle-area tech news: —PitchBook, the Seattle-based venture capital data provider, will become a unit of investment research firm Morningstar (NASDAQ: [[ticker:MORN]]) … Continue reading “Seattle Week in Review: Read It While You Still Can”
Xenex CEO Miller Starts Tectonic Ventures With Boston Investor
San Antonio—Texas entrepreneur Morris Miller has created a new venture capital firm, Tectonic Ventures, with a Boston-based financier who has invested in at least two of Miller’s companies. Newton, MA-based Tectonic was incorporated in 2016 of this year by Matthew Rhodes-Kropf, an associate professor of finance at MIT and venture capital investor, according to an SEC … Continue reading “Xenex CEO Miller Starts Tectonic Ventures With Boston Investor”
Bio Roundup: Bristol & Illumina Blues, Sickle Cell News & More
On Aug. 4, shares of Bristol-Myers Squibb closed at $75.32. Today, shares are worth just over $50. That means in three months, Bristol has lost a third of its value, equivalent to about $40 billion in market capitalization. The reason? One failed clinical trial has left rival Merck in the lead position to have what … Continue reading “Bio Roundup: Bristol & Illumina Blues, Sickle Cell News & More”
Morningstar Acquires PitchBook Data for $225,000,000
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=026f91d6-aa1a-4fc0-b41f-b172ba21aaca Date 10/14/2016 Company Name PitchBook Data Mailing Address 901 Fifth Avenue Seattle, WA 98164 USA Company Description We help our clients build the great companies of tomorrow by providing them with the world’s meaningful business information and resources to understand it. Website http://www.pitchbook.com Transaction Type M&A Transaction Amount $225,000,000 Transaction Round … Continue reading “Morningstar Acquires PitchBook Data for $225,000,000”
Iora Health Dials Up $75M to Expand Primary Care Clinics
[Updated 10/13/16, 5:33 pm, with CEO comments at end of story.] Investors just pumped $75 million into Iora Health in a fresh round aimed at helping the Boston-based startup expand its primary care practices to more locations and improve the software that helps run them. The Series D round announced today was led by Singapore-based … Continue reading “Iora Health Dials Up $75M to Expand Primary Care Clinics”
Aquaculture Industry Casts Wider Net in Food and Consumer Markets
Water covers more than 70 percent of the Earth’s surface, but the oceans’ capacity for meeting the growing consumer demand for seafood is limited—the seas are simply overfished. Some new business opportunities are emerging to produce more fish amid dwindling fish resources. Global seafood consumption reached 143 million metric tons in 2009, an increase of … Continue reading “Aquaculture Industry Casts Wider Net in Food and Consumer Markets”
Digital Trends Obtains $10,000,000 New Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=9f324956-40df-44cf-9ba1-cc9eaa161e7f Date 10/13/2016 Company Name Digital Trends Mailing Address 111 SW 5th Ave. Portland, OR 97204 USA Company Description Digital Trends was founded in 2006 with a simple mission: to help readers easily understand how tech affects the way they live. We are your authoritative guide to the world around us. We … Continue reading “Digital Trends Obtains $10,000,000 New Financing Round”
California Accelerators Enroll Startups Targeting Cannabis Industry
[Corrected 10/13/16, 9:10 am. See below.] When California voters go to the polls on November 8, among the many issues they are expected to decide is Proposition 64. If a majority of voters vote yes, the initiative would legalize the recreational use of marijuana in the Golden State for adults aged 21 years or older. … Continue reading “California Accelerators Enroll Startups Targeting Cannabis Industry”
Life Science Leaders Who Feel the Right Kind of Fear
In the world of betting on the future, life sciences find themselves in a storm, with huge opportunities, like CRISPR gene editing, and immense obstacles, such as soaring drug prices, that call for leaders of extra intensity who are imbued with a sense of crisis. Most people agree that the life sciences today, more than … Continue reading “Life Science Leaders Who Feel the Right Kind of Fear”
CloudCoreo Obtains $2,900,000 Seed Funding
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=94b59e4c-6402-4c23-a4e6-7a2472d1c6da Date 10/12/2016 Company Name CloudCoreo Mailing Address 320 Westlake Blvd 4th Floor Seattle, WA 98109 USA Company Description CloudCoreo is working on a next generation cloud management platform. Our goal is to enable DevOps and SecOps teams to scale efficiently within and across cloud providers. Website http://www.cloudcoreo.com Transaction Type Venture Equity … Continue reading “CloudCoreo Obtains $2,900,000 Seed Funding”
Announcing Xconomy Intersect: GGV, Accolade, OfferUp, Textio & More
The most interesting innovations are found where disciplines, industries, and cultures intersect—where intelligent machines edit human writers, drones plant trees, and cloud computing accelerates the transformation of healthcare, for example. Xconomy is excited to announce our upcoming Seattle event, an exploration of the crossroads from which the next world-changing ideas may emerge. Join us Thursday, … Continue reading “Announcing Xconomy Intersect: GGV, Accolade, OfferUp, Textio & More”
How Doctors Think About Drug Prices
There are a lot of factors involved in drug pricing that don’t enter my head when I’m seeing a patient. The three letters “PBM,” for example (pharmacy benefit manager), have never crossed my mind when I’m writing a prescription. Nor has the word “rebate.” Or the phrase “pay for delay.” Or “marketing exclusivity.” Basically, I … Continue reading “How Doctors Think About Drug Prices”
Checkpoints In Lung Cancer, and Other Oncology News From Europe
The European Society for Medical Oncology’s annual conference wraps up in Copenhagen today. We’ve seen updates on heavyweight immunotherapy programs, potential options for patients with advanced breast cancer, and more. Here’s a quick roundup of the major news. LUNG CHECKS ESMO provided more evidence that the treatment of lung cancer is changing fast. Going into … Continue reading “Checkpoints In Lung Cancer, and Other Oncology News From Europe”
VICIS Garners $4,000,000 New Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=df302a15-6d85-4087-bafc-0db0fab0b61f Date 10/10/2016 Company Name VICIS Mailing Address 570 Mercer Street Seattle, WA 98109 USA Company Description We are a University of Washington spinout developing a revolutionary new football helmet that mitigates the forces likely to cause concussion. Website http://www.vicis.co Transaction Type Venture Equity Transaction Amount $4,000,000 Transaction Round Undisclosed Proceeds Purposes … Continue reading “VICIS Garners $4,000,000 New Financing”
Seattle Week in Review: Amazon, AI, and Slipping Earth’s Gravity
Fall began in earnest this week, but the winds and rains that buffeted the Northwest are nothing compared to the fury of Hurricane Matthew. Time to hunker down for a review of the local tech news including: Amazon’s big contribution to UW, plans for a large Bellevue office, and partnership with KITT.AI; advances in the … Continue reading “Seattle Week in Review: Amazon, AI, and Slipping Earth’s Gravity”
How Augmented Reality Is Transforming the Manufacturing Industry
For many Americans, the manufacturing industry brings to mind images of Industrial Revolution-era factories, World War II assembly lines, or perhaps even outsourced workshops overseas. But that picture is outdated. The truth is that the advanced technologies that are changing modern life are also revolutionizing the manufacturing industry in ways that are not yet widely … Continue reading “How Augmented Reality Is Transforming the Manufacturing Industry”
Bio Roundup: Theranos Cuts, Alnylam Stops, Nobel Eats Its Own & More
[Updated, 11:50 a.m. ET, see below] With the Caribbean and now the southeast U.S. coast bearing the brunt of Hurricane Matthew, we send our thoughts and more to those who have more pressing matters to worry about this week. But the show must go on. The biotech industry saw its own storms pass through, with … Continue reading “Bio Roundup: Theranos Cuts, Alnylam Stops, Nobel Eats Its Own & More”
Xconomy Intersect: Innovating Where Disciplines Collide
The most interesting innovations are found where disciplines, industries, and cultures intersect—where intelligent machines edit human writers, drones plant trees, and cloud computing accelerates the transformation of healthcare. Xconomy Intersect will explore these productive areas through an afternoon of conversations with top investors, company builders, startup leaders, and researchers. These key constituents are remixing the … Continue reading “Xconomy Intersect: Innovating Where Disciplines Collide”
Siri Creators Score Again With Viv, Sold to Samsung in A.I. Race
Samsung entered the conversational artificial intelligence fray in a major way Wednesday with its purchase of Viv Labs, a San Jose, CA-based startup led by three of the key people behind virtual assistant Siri. Terms of the deal weren’t disclosed. Viv’s roughly 30 employees will keep their jobs, Recode reported. Viv will work closely with … Continue reading “Siri Creators Score Again With Viv, Sold to Samsung in A.I. Race”
Amazon Pledges $10M to Expand UW Computer Science Program
The University of Washington is $10 million closer to its goal of a significantly expanded computer science program thanks to a gift from Amazon announced Thursday. The Seattle-based tech giant’s commitment to the $110 million public-private fundraising campaign for a new computer science building is its largest local contribution yet. Amazon, despite thousands of local … Continue reading “Amazon Pledges $10M to Expand UW Computer Science Program”
Third-Quarter Report Shows Slowdown in VC Activity, & Top 10 Deals
Venture capital activity is gradually easing from last year’s peak, according to a new quarterly report put together by Seattle-based PitchBook and the National Venture Capital Association. VC firms invested $14.99 billion in 1,810 U.S. deals (1,796 companies) during the third quarter that ended September 30, according to the inaugural “Venture Monitor” report released today. … Continue reading “Third-Quarter Report Shows Slowdown in VC Activity, & Top 10 Deals”
With New Program, DARPA To Encourage Safety “Brakes” For Gene Editing
[Updated 10/6/16, 12:17 p.m. See below.] Drugs that use molecular scissors to snip out or replace defective genes. Altered mosquitoes meant to sabotage entire disease-carrying populations. Both are potential uses of genome editing, which thanks to the CRISPR-Cas9 system has spread throughout the world’s biology labs and is now on the doorstep of the outside … Continue reading “With New Program, DARPA To Encourage Safety “Brakes” For Gene Editing”
Is Your Organization Ready to Become an Ecosystem Driver?
[This article is co-authored by Stephanie Woerner.] Dominating business-to-consumer sales, Amazon seems ready to take over the world of business-to-business too. In its first year, Amazon Business generated $1 billion in sales. However, there is still room for competition. It’s not yet an ecosystem driver in B2B, although the longer it takes for other business … Continue reading “Is Your Organization Ready to Become an Ecosystem Driver?”
Microsoft Ventures Invests In Austin AI Startup Cognitive Scale
Austin—Microsoft Ventures has invested in Austin artificial intelligence startup CognitiveScale, filling out its Series B investment round to more than $25 million, the company reported Tuesday. Cognitive Scale would not reveal the amount Microsoft has invested. In August, the startup announced it had raised a total of $21.8 million in the Series B round from investors such … Continue reading “Microsoft Ventures Invests In Austin AI Startup Cognitive Scale”
Rover.com Lands $40,000,000 Series E Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=ff2ddcf3-ae50-44e1-bdcc-dca2c5311634 Date 10/4/2016 Company Name Rover.com Mailing Address 808 Howell St. Seattle, WA 98101 USA Company Description At Rover.com, our mission is to allow dog owners to easily tap into the 40 million U.S. dog-owning households as well as a myriad of other pet lovers-including professionals – to meet their dog care … Continue reading “Rover.com Lands $40,000,000 Series E Financing”
TerrAvion’s Eye in the Sky For Growers, And Now, Ranchers
Robert Morris was a military drone platoon leader in Afghanistan, where he started thinking about the potential of aerial imagery in agriculture. He later became a chapter president of the Drone Industry Association, and explored the idea of setting up a business providing drone surveillance of farmland. Morris did go on to co-found an aerial … Continue reading “TerrAvion’s Eye in the Sky For Growers, And Now, Ranchers”
Rover Raises $40M in Race to Control Dog Services Marketplace
We live in a Golden Age of pet ownership, and venture-backed dog-care marketplaces are raking in tens of millions of dollars a year by connecting dog owners with trustworthy people to walk and care for their furkids. The alpha dog appears to be Seattle-based Rover.com, which announced $40 million in new funding on Monday from prior investors Foundry … Continue reading “Rover Raises $40M in Race to Control Dog Services Marketplace”
Seattle Week in Review: AI, Remitly, Spaceflight, Sound as UI, More
The leaves soak up the early fall sun and we wrap up another busy news week. We’re reviewing big artificial intelligence announcements from Microsoft and its chief competitors; more funding for Remitly; a conversational competition from Amazon; a milestone launch for Spaceflight; and more. Details: —Big news from Microsoft, which is devoting a 5,000-person division … Continue reading “Seattle Week in Review: AI, Remitly, Spaceflight, Sound as UI, More”
Bio Roundup: CAR-T & Migraine Races, Intra-Cellular, Rockefeller & More
The presidential race captivated millions of TV viewers this week as the first debate took place in Hofstra. But biotech watchers had other races on their mind. Who will be first to market with a new type of cancer treatment known as CAR-T? Who will break free of the pack of companies developing drugs meant … Continue reading “Bio Roundup: CAR-T & Migraine Races, Intra-Cellular, Rockefeller & More”
Aligned With Roche, SQZ Bio Gets $16M to Push Cell Therapies to Clinic
The first experimental cell-based cancer immunotherapy, known as CAR-T, could soon be submitted to the FDA for approval. But CAR-T therapies have limitations. One of many companies looking to improve them is tiny Boston startup SQZ Biotech, and it just pulled in more cash. The $16 million Series B round SQZ is announcing this morning … Continue reading “Aligned With Roche, SQZ Bio Gets $16M to Push Cell Therapies to Clinic”
Remitly Obtains $38,000,000 New Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=cfe5f046-50cf-4371-8555-b0fbde880dfb Date 9/30/2016 Company Name Remitly Mailing Address 1601 2nd Ave. Seattle, WA 98101 USA Company Description Remitly has changed the way to send money. We understand the pain of sending money abroad. We make things easier and faster, and work smarter so you can send more and pay less. Website http://www.remitly.com … Continue reading “Remitly Obtains $38,000,000 New Round”
Tech Giants’ Partnership To Explore Ethics, Societal Impacts of AI
With public interest in artificial intelligence technologies on the rise, five of the world’s largest corporations—vying against each other in so many spheres—are banding together to support research on the ethical and societal issues raised by machines with increasingly human-like capabilities. The Partnership on AI, formally unveiled Wednesday, includes Amazon, Microsoft, Facebook, IBM, Google and … Continue reading “Tech Giants’ Partnership To Explore Ethics, Societal Impacts of AI”
Will Programmable Immune “Cellbots” Be the Next Weapon Against Cancer?
[Corrected, 9/29/16, 4:24 p.m. See below.] Cancer immunotherapy has captured the medical world’s attention, knocking out a few types of cancer in a small portion of the most desperate patients. But it has bumped into many limitations. Researcher Wendell Lim (pictured) and his lab mates at the University of California, San Francisco, believe they can … Continue reading “Will Programmable Immune “Cellbots” Be the Next Weapon Against Cancer?”
OpenSesame Lands $9,000,000 Series B Funding
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=6548f620-4401-4ded-ab43-98af15250e95 Date 9/29/2016 Company Name OpenSesame Mailing Address 520 NW Davis Street Portland, OR 97209 USA Company Description OpenSesame is the world’s largest source for elearning courses focused on employee training. Buyers browse online training courses in a wide variety of subjects from workplace safety to business skills then purchase and start … Continue reading “OpenSesame Lands $9,000,000 Series B Funding”
Kite Unveils Anticipated CAR-T Cancer Data: Positive But Not Complete
Kite Pharma (NASDAQ: [[ticker:KITE]]) has dipped into a highly anticipated clinical trial of its cancer treatment, KTE-C19, to release a partial set of data. Although not complete, the data bolster the view that Kite could be the first among its peers, all developing cutting-edge cancer treatments from a patient’s own white blood cells, to win … Continue reading “Kite Unveils Anticipated CAR-T Cancer Data: Positive But Not Complete”
Minerva Tantoco, IBM, Microsoft, Foursquare & Others on Future of AI
Making the artificial feel more natural is one of the goals of computer scientists these days. Last week in New York, innovators from IBM, Foursquare, Microsoft, and other companies discussed what may lie ahead in the commercial development of artificial intelligence. From baby steps in machine learning to longer strides in interacting with humans, AI … Continue reading “Minerva Tantoco, IBM, Microsoft, Foursquare & Others on Future of AI”
Investors Bid Up Apptio Shares in Market Debut
Apptio priced its shares at $16, raising $96 million in an initial public offering. The Bellevue, WA-based IT company’s shares, trading on the Nasdaq under the ticker symbol APTI, were up about 42 percent in early afternoon trading Friday. The IPO price was above the $13 to $15 anticipated range the company disclosed last week. … Continue reading “Investors Bid Up Apptio Shares in Market Debut”
Bio Roundup: Mylan Grilled, Duchenne Kids Thrilled, Zuck-Chan & More
Another biopharma executive went before Congress to explain drug price hikes. Unlike Martin Shkreli, Mylan CEO Heather Bresch actually answered questions. Taking heat over the EpiPen scandal, she tried to stick to her script, getting testy when legislators brought up a USA Today story about her mother helping market the life-saving anti-allergy injection to schools. … Continue reading “Bio Roundup: Mylan Grilled, Duchenne Kids Thrilled, Zuck-Chan & More”
Apptio Obtains $96,000,000 New Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=b0225281-19e9-42db-ba05-cdf88b1dd74e Date 9/23/2016 Company Name Apptio Mailing Address 11100 Northeast 8th Street Bellevue, WA 98004 USA Company Description Use Apptio (NASDAQ: APTI) to Evaluate and Manage Your Portfolio of IT Investments Through an Integrated View of IT Cost, Performance, Supply, and Demand Website http://www.apptio.com Transaction Type IPO Transaction Amount $96,000,000 Transaction Round … Continue reading “Apptio Obtains $96,000,000 New Financing Round”
Avalara Secures $50,000,000 New Funding Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=5fb8128d-9b14-4548-9513-edd66ab7abde Date 9/23/2016 Company Name Avalara Mailing Address 100 Ravine Lane Northeast Bainbridge Island, WA 98110 USA Company Description Avalara is software for automated tax compliance. Whether you are selling online, starting a new business, or need help filing internationally Avalara can help. Website http://www.avalara.com Transaction Type Venture Equity Transaction Amount $50,000,000 … Continue reading “Avalara Secures $50,000,000 New Funding Round”
Announcing Xconomy’s Agtech and Food Channel
A core tenet of Xconomy—and the reason behind our broad coverage across information technology, life sciences, energy, and more—is that the most interesting and important innovations often arise from the intersection of different disciplines. One of the most important intersections today is between agriculture, the life sciences, and information technology—as evidenced by the growing field … Continue reading “Announcing Xconomy’s Agtech and Food Channel”
Marking 20 Years of STEM Education at TAF, and Planning for 20 More
Trish Millines Dziko is getting ready to celebrate. For 20 years, the Technology Access Foundation, which she co-founded with her spouse, Jill Hull Dziko, has helped thousands of Seattle-area kids of color gain skills and experiences to unlock careers in the booming industry that has come to define the regional economy, and nearly all aspects … Continue reading “Marking 20 Years of STEM Education at TAF, and Planning for 20 More”
Pharmaceutical Price Controls Might Be Closer Than You Think
Amid the hue and cry over the Mylan EpiPen pricing debacle, Hillary Clinton unveiled her “Plan to Respond to Unjustified Price Hikes for Long-Available Drugs.” Clinton’s plan calls for “dedicated oversight to protect consumers.” To that end she would “convene representatives of federal agencies…to create a dedicated group charged with protecting consumers from outlier price … Continue reading “Pharmaceutical Price Controls Might Be Closer Than You Think”
Workforce Trends, Economy, & More: Q&A With Alexandria’s Joel Marcus
Think “innovation” and you might picture some scrappy entrepreneurs toiling away in a kitchen or garage, hoping the landlord doesn’t notice what they’re up to. But the reality is that turning science into big business often requires far more sophisticated infrastructure—and the landlord who provides that infrastructure sometimes has one of the best windows into … Continue reading “Workforce Trends, Economy, & More: Q&A With Alexandria’s Joel Marcus”
LumaTax Secures $2,000,000 New Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=ccfcf89c-b5a6-48c4-ae19-69852b45a22d Date 9/19/2016 Company Name LumaTax Mailing Address 240 2nd Ave South Seattle, WA 98104 USA Company Description LumaTax is a sales tax automation service for small businesses, founded by serial entrepreneur Robert Schulte and Pioneer Square Labs. Website http://www.lumatax.com Transaction Type Venture Equity Transaction Amount $2,000,000 Transaction Round Undisclosed Proceeds Purposes … Continue reading “LumaTax Secures $2,000,000 New Round”