This year’s Lasker Awards, the US’s most prestigious biomedical honor, are going to five scientists whose work led to a critical breast cancer treatment and significant basic research advances that have helped pave the way for immunotherapy. H. Michael Shepard, Dennis Slamon, and Axel Ullrich won the Lasker-DeBakey Clinical Medical Research Award for inventing trastuzumab … Continue reading “Herceptin Inventors, Immunology Pioneers Take Home 2019 Lasker Awards”
Category: Seattle
Shopify Buys 6 River Systems for $450M to Boost Fulfillment Centers
Ecommerce software company Shopify will purchase warehouse robotics startup 6 River Systems in a $450 million deal aimed at improving logistics in its new system of fulfillment centers. Based in Waltham, MA, 6 River Systems makes robotic carts for order fulfillment centers that learn the warehouse layout and product locations in order to help workers more efficiently … Continue reading “Shopify Buys 6 River Systems for $450M to Boost Fulfillment Centers”
Your Car Is Hackable—Here Are Three Steps You Can Take
We’re used to protecting the information on our smartphones by keeping strong passwords and setting a lock screen. But fewer people know about the importance of protecting the information in their vehicles. Earlier this year, the automotive shopping website CarGurus asked 1,020 consumers questions about common security practices and the risks of connected cars. Here … Continue reading “Your Car Is Hackable—Here Are Three Steps You Can Take”
Amazon, With More WA Workers than Microsoft, Eyes Adding 10K More
Jeff Bezos and company are looking for a few good men and women—well, perhaps more than a few, especially in and around Amazon’s home turf. Buoyed by years of staggering growth but also facing a tight labor market, Amazon (NASDAQ: [[ticker:AMZN]]) will work to fill 30,000 jobs across the US by 2020, the tech giant … Continue reading “Amazon, With More WA Workers than Microsoft, Eyes Adding 10K More”
At Big Lung Cancer Meeting, Lights Shine on KRAS, Drug Combos & More
The treatment landscape for lung cancer has shifted significantly over the past few years, and more changes could be on the way. At the World Conference on Lung Cancer in Barcelona this weekend a number of drug makers trotted out some of their latest advances in immunotherapy, targeted pills, drug combinations, and more. Xconomy rounded … Continue reading “At Big Lung Cancer Meeting, Lights Shine on KRAS, Drug Combos & More”
Home Buying Tech Startup Savvy Lane Lands $2M for West Coast Growth
Savvy Lane, a startup developing technology and services to help lower the cost of buying or selling a home, announced Friday it has raised $2 million in outside investment to support its growth. Seattle-based Savvy Lane did not identify the investor that provided the funding, saying only that it came from “a notable public company … Continue reading “Home Buying Tech Startup Savvy Lane Lands $2M for West Coast Growth”
Bio Roundup: MedCo’s Pricing Plan, Vertex’s Gamble, uBiome Undone
Being first to market with a new type of drug brings advantages. The first mover sets the bar for what physicians, payers, and patients can expect of that medicine and how much it costs. It grabs market share that followers have to steal away. But the first mover isn’t infallible if someone else has something … Continue reading “Bio Roundup: MedCo’s Pricing Plan, Vertex’s Gamble, uBiome Undone”
As Clean Power Buying Surges, LevelTen Helps Firms Track Energy Data
LevelTen Energy, a Seattle-based startup that helps corporations make renewable energy purchases, on Wednesday released new performance monitoring software it says allows users to better track energy usage, market data, and other key metrics. Launched in 2016, LevelTen seeks to give more businesses access to the power purchase agreements that large corporations and other energy … Continue reading “As Clean Power Buying Surges, LevelTen Helps Firms Track Energy Data “
Vir Bio Plans IPO to Fund Clinical Trials of Infectious Disease Drugs
Vir Biotechnology assembled its pipeline of infectious disease compounds through deal-making with other drug developers, along with financial support from blue-chip venture capital firms and the non-profit Bill & Melinda Gates Foundation. Now the biotech is turning to the public markets for the cash to continue clinical tests of its most advanced drug candidates. San … Continue reading “Vir Bio Plans IPO to Fund Clinical Trials of Infectious Disease Drugs”
Robocalls Crowd Out Real Business Calls. This Startup Has an Answer.
The ways in which robocallers try to dupe us are becoming almost as plentiful as the frequency of the calls. An unknown phone number was once all scammers needed to trick the average person into picking up the call. Now, new hoaxes are making it increasingly difficult to avoid fraud, such as the “one ring” … Continue reading “Robocalls Crowd Out Real Business Calls. This Startup Has an Answer.”
Bio Roundup: Cholesterol Check, J&J’s Opioid Hit, AbbVie’s Flop & More
You might be camping, barbecuing, or sleeping on Monday. It’s Labor Day, after all. But in Paris, this cardiologist will be in a conference center, walking an audience through a slide deck packed with Phase 3 data for a new cholesterol-lowering drug, inclisiran. Inclisiran’s owner, the Medicines Co., jumped the presentation by a week, promising … Continue reading “Bio Roundup: Cholesterol Check, J&J’s Opioid Hit, AbbVie’s Flop & More”
Ring Confirms Report, Says It Works With More Than 400 Police Agencies
Ring, the Amazon-owned maker of camera-equipped doorbells that let users monitor activity around their homes, has confirmed exactly how extensive its video-sharing deal is with law enforcement agencies around the US. Ring has partnered with 405 US police forces to allow officers to request footage recorded by local residents’ devices, Ring CEO Jamie Siminoff wrote … Continue reading “Ring Confirms Report, Says It Works With More Than 400 Police Agencies”
Celgene Adds Cell Therapies From Immatics With Bristol Sale in Sight
Even as its sale to Bristol-Myers Squibb (NYSE: [[ticker:BMY]]) inches closer to completion, Celgene—long known for its web of biotech partnerships—has inked another alliance. Celgene (NASDAQ: [[ticker:CELG]]) will co-develop three cell therapies for cancer with Immatics, a German biotech with ties to MD Anderson Center Center in Houston. Celgene will pay Immatics $75 million in … Continue reading “Celgene Adds Cell Therapies From Immatics With Bristol Sale in Sight”
ThoughtSpot Nabs $248M for Accessible Analytics, Nears $2B Valuation
ThoughtSpot, a software company formed to make data analytics accessible for business staffers without data science expertise, announced today it raised $248 million in a Series E funding round that set its valuation at $1.95 billion. Sunnyvale, CA-based ThoughtSpot, founded in 2012, made it a core mission to enable its customers’ non-technical workers to mine … Continue reading “ThoughtSpot Nabs $248M for Accessible Analytics, Nears $2B Valuation”
Seattle Startup Funding Tidbits: Blokable, Zenoti, PTO Exchange
Keep up with venture capital funding activity in the Seattle area with recent news from three local startups. The companies—Blokable, Zenoti Software, and PTO Exchange—are developing software and other tech-enabled products for three very different industries: housing, spas, and finance. Read on for details. —Blokable, a Seattle-based startup that designs and manufactures modular housing components … Continue reading “Seattle Startup Funding Tidbits: Blokable, Zenoti, PTO Exchange”
Space Venture’s Tom Neary Lands at SEngine as Chief Financial Officer
Tom Neary has been appointed chief financial officer of SEngine Precision Medicine. Neary most recently worked as CFO at Space Venture Partners, and prior to that as the top financial executive for Spaceflight Industries. His experience also includes positions at Microsoft (NASDAQ: [[ticker:MSFT]]). Seattle-based SEngine has commercialized a diagnostic test used to match a patient … Continue reading “Space Venture’s Tom Neary Lands at SEngine as Chief Financial Officer”
New PCSK9 Cholesterol Drug Faces Tough Foe. (Hint: Not Cholesterol.)
[Updated 8/26/19, 10:30am. See below.] Remember when the new wave of expensive cholesterol-lowering drugs—known as PCSK9 inhibitors—was supposed to give the healthcare system a financial heart attack? Far from it. Four years after approval the two PCSK9 blockers on the market have yet to crack $1 billion in annual sales, combined, thanks to a gloves-off … Continue reading “New PCSK9 Cholesterol Drug Faces Tough Foe. (Hint: Not Cholesterol.)”
Why Amazon’s Ascent Spells Bad News for Mall Food Courts
The increasing popularity of Amazon’s annual Prime Day, Cyber Monday, and other online shopping-themed occasions is one of many indicators more Americans are relying on mobile devices and computers, not malls, to shop. It’s no secret the so-called “Amazon effect,” a shift in retail buying patterns toward online shopping and away from brick-and-mortar locations, has … Continue reading “Why Amazon’s Ascent Spells Bad News for Mall Food Courts”
GSK’s Cancer Comeback Continues With Data for Multiple Myeloma Drug
An experimental GlaxoSmithKline treatment for multiple myeloma has achieved the main goal of a key study, and the drug maker plans to file for regulatory approval by the end of this year. GlaxoSmithKline (NYSE: [[ticker:GSK]]) said Friday that treatment with its drug, belantamab mafodotin, showed a “clinically meaningful overall response rate” in the study. The … Continue reading “GSK’s Cancer Comeback Continues With Data for Multiple Myeloma Drug”
Bio Roundup: Sarepta’s Stumble, Opioid Suits, Shkreli’s Legacy & More
Biotech news tends to slow down in August but the past seven days have been busy for regulatory decisions. Three drugs and two devices won FDA nods. Not all companies were as fortunate. Several biotechs reported failed clinical trials or unfavorable FDA decisions. The most notable one might be the rejection of a Sarepta Therapeutics … Continue reading “Bio Roundup: Sarepta’s Stumble, Opioid Suits, Shkreli’s Legacy & More”
New BC Biotech Chinook Reels in $65M to Tackle Kidney Disease
About 15 percent of adults in the US, around 37 million people, are estimated to have chronic kidney disease, according to the Centers for Disease Control. They have very few therapeutic options and often progress to kidney failure, which is treatable only with dialysis or transplant. Chinook Therapeutics is looking to develop new treatments to … Continue reading “New BC Biotech Chinook Reels in $65M to Tackle Kidney Disease”
Ford’s Autonomic Connects EV Maker Ayro to Its Mobility Cloud
Ford subsidiary Autonomic today announced a step forward in its drive to expand the online mobility hub it built to manage digital interactions among cars, drivers, fleets, service providers, and auto manufacturers—including Ford’s rivals. Palo Alto, CA-based Autonomic signed up Ayro, an electric vehicle startup, as a paying customer of its Transportation Mobility Cloud (TMC), … Continue reading “Ford’s Autonomic Connects EV Maker Ayro to Its Mobility Cloud”
Enterprise Software Startup Ally Nabs $8M to Support Global Growth
Ally, a startup developing software to help businesses chart strategies and track progress toward meeting goals, announced Monday it has raised $8 million from investors to support the Bellevue, WA-based company’s growth. Palo Alto, CA-based Accel led the Series A round, Ally says. Other participating investors included two Seattle-based venture capital firms, Founders’ Co-op and … Continue reading “Enterprise Software Startup Ally Nabs $8M to Support Global Growth”
Bio Roundup: Zolgensma Fallout, Duchenne Redux, Ebola Boost & More
We learned last week that the FDA was investigating Novartis for manipulating animal data related to its $2 million-a-dose gene therapy Zolgensma. The activity took place at AveXis, the firm Novartis bought for $8.7 billion in 2018, and Novartis reportedly knew but failed to report it to the FDA before the agency approved Zolgensma in … Continue reading “Bio Roundup: Zolgensma Fallout, Duchenne Redux, Ebola Boost & More”
Will Porsche Fans Ever Live in a Driverless World? Porsche Says No.
Imagine the transportation future 20 years from now. Here’s one way things could roll on a weekday: Many of us get picked up at home by a sturdy, standardized, driverless car that will also scoop up a few of our neighbors who work at other businesses near ours. Entering the highway, the vehicle automatically links … Continue reading “Will Porsche Fans Ever Live in a Driverless World? Porsche Says No.”
Four New Drugs Are Around the Corner. Here’s What You Need to Know.
[Updated, 3:40 pm ET, see below] The Food and Drug Administration approved 59 new drugs last year, a record for the agency which over the years has swung back and forth between tight control and leniency. We are in the midst of perhaps the agency’s most permissive era ever, thanks to its openness to speed … Continue reading “Four New Drugs Are Around the Corner. Here’s What You Need to Know.”
Mason Raises $25M to Help Software Firms Deploy, Manage Applications
Amazon Web Services and other businesses that charge customers to host their software applications have become a popular option for tech startups. Part of the reason for the popularity of using AWS and other cloud computing services is because it allows employees at early-stage businesses to focus on their products and customers, rather than server … Continue reading “Mason Raises $25M to Help Software Firms Deploy, Manage Applications”
Bio Roundup: Surprise News, a Gene Therapy Mess & a CAR-T Step
Gene therapy has become one of the hottest fields in biomedicine, with two treatments approved in the US already and several more on the way. But surprise news this week regarding Zolgensma, the recently approved spinal muscular atrophy treatment, cast a cloud over its progress. The FDA revealed that Novartis subsidiary AveXis had “manipulated” data … Continue reading “Bio Roundup: Surprise News, a Gene Therapy Mess & a CAR-T Step”
Glow Snags $2.3M to Help Podcasters Connect to Listeners, Make Money
Amira Valliani decided to launch a podcast-focused startup after listening to a podcast that is, fittingly enough, named StartUp. Valliani is the co-founder and CEO of Glow.fm, an early-stage company based in Seattle that recently raised $2.3 million in seed funding to continue building its service for supporting podcasters. Glow’s story traces back to 2015, … Continue reading “Glow Snags $2.3M to Help Podcasters Connect to Listeners, Make Money”
Seattle Startup Remarkably Gets $4.1M to Market Real Estate Software
Remarkably, a Seattle-based startup that provides users with real estate marketing software and analytics services, announced Tuesday it has raised $4.1 million in seed funding. The company markets its software products to developers, owners, and managers of residential buildings with multiple apartments or condominiums, which are sometimes called “multi-family” dwellings. Remarkably’s digital tools are designed … Continue reading “Seattle Startup Remarkably Gets $4.1M to Market Real Estate Software”
Bio Roundup: Pfizer’s Future, CRISPR in Patients, Drug Imports & More
[Corrected 12:55 p.m. ET. See below.] Acquisitions made Pfizer what it is today: the world’s biggest drug maker measured by revenue. But as the company maps its future, CEO Albert Bourla is breaking some of that legacy apart. Blockbuster drugs such as Viagra, which was discovered in-house, and Lipitor, which came via acquisition, are currently … Continue reading “Bio Roundup: Pfizer’s Future, CRISPR in Patients, Drug Imports & More”
White House Floats Canadian Import Plan But Excludes Many Costly Drugs
[Updated, 6:18 p.m. ET. See below.] The Trump administration unveiled Wednesday a long-awaited plan to import cheaper medications from Canada and other countries. The US Department of Health and Human Services says the two proposals are part of the administration’s strategy to curb high prescription-drug prices, which has often been short on action despite the … Continue reading “White House Floats Canadian Import Plan But Excludes Many Costly Drugs”
Mark Levin Named Xconomy’s 2019 Lifetime Achievement Award Winner in Boston
We at Xconomy are excited to announce that we are honoring Mark Levin, co-founder and partner at Third Rock Ventures, with our 2019 Lifetime Achievement Award in Boston. The award recognizes Levin’s extensive contributions to the biotech industry and to the Boston life sciences ecosystem. Levin built Millennium Pharmaceuticals—inspiring a generation of future executives/entrepreneurs along … Continue reading “Mark Levin Named Xconomy’s 2019 Lifetime Achievement Award Winner in Boston”
ProsperOps Seeks Spot in the Growing Cloud as Amazon Still Dominates
Austin—[Updated 1:28 p.m. See below.] Cloud computing is big business, and Amazon Web Services is the biggest. A new Texas startup is carving its own space in this growing sector, but it’s not doing it by competing with Amazon’s AWS head on. The founders of ProsperOps have tied their firm’s growth, at least initially, to … Continue reading “ProsperOps Seeks Spot in the Growing Cloud as Amazon Still Dominates”
Duchenne Advocates Start Casimir, Aiming to Capture Missing Data
Three years ago, the FDA made one of the most polarizing decisions in its history. It approved a drug for the rare genetic disease Duchenne muscular dystrophy on the slimmest of evidence, a watershed moment that caused a highly publicized rift within the agency. In the midst of it all were parents who pushed hard … Continue reading “Duchenne Advocates Start Casimir, Aiming to Capture Missing Data”
Bio Roundup: Leiden’s Exit, Depression Data, a New Pricing Bill & More
What will the legacy be of Jeff Leiden, the longtime CEO of Vertex Pharmaceuticals? Vertex surprised Wall Street this week by announcing Leiden’s seven-year run will end next spring. In some ways, his legacy is already written. He steered Vertex through a crisis when its hepatitis C business was squashed by competition, in no small … Continue reading “Bio Roundup: Leiden’s Exit, Depression Data, a New Pricing Bill & More”
No Co-Founder? Y Combinator Offers Matchmaking at Startup School
From the moment Talia Frenkel resolved to found a company after a kitchen-table talk with her parents, the odds were against her. There were a host of reasons—she wasn’t a software engineer, she had no product development experience, and she wanted to launch a consumer item that was already sold widely by established enterprises. Yet … Continue reading “No Co-Founder? Y Combinator Offers Matchmaking at Startup School”
As Castle Bio Jumps on IPO Train, Industry Trends Suggest Slowdown
Castle Biosciences is joining the public markets through a $64 million IPO that will support cancer tests that help doctors make treatment decisions. On Wednesday evening, Castle priced its offering of 4 million shares at $16 apiece, which was the high end of its targeted price range. The Friendswood, TX, company had previously planned to … Continue reading “As Castle Bio Jumps on IPO Train, Industry Trends Suggest Slowdown”
Bristol, With Another Lung Cancer Flop, Loses More Ground to Merck
Bristol-Myers Squibb (NYSE: [[ticker:BMY]]) this afternoon revealed yet another setback for its cancer immunotherapy nivolumab (Opdivo) in lung cancer, boosting the outlook for rival Merck. The New York pharma giant said that a regimen of nivolumab (Opdivo) and chemotherapy failed to extend the lives of non-squamous, non-small cell lung cancer patients compared to chemo alone … Continue reading “Bristol, With Another Lung Cancer Flop, Loses More Ground to Merck”
The Entrepreneurial Potential of Cannabis
Recreational marijuana is now legal here in Massachusetts and it seems that everywhere you look, people are excited to create business ventures around it. But, like any other business endeavor, research, planning, and discipline are essential – maybe even more so given the legal and regulatory issues involved with cannabis. As of now, marijuana is fully legal … Continue reading “The Entrepreneurial Potential of Cannabis”
Freenome Snags $160M to Boost Blood Test for Early Cancer Detection
Freenome, one of the rivals racing to detect the earliest signs of cancer through blood tests, announced Wednesday it has raised $160 million in a Series B funding round. The money boosts Freenome’s fundraising total to $238 million. It’s a boon for the South San Francisco startup founded in 2014, but not an unusual haul … Continue reading “Freenome Snags $160M to Boost Blood Test for Early Cancer Detection”
With Regulator’s Nod, Bosch Plans Spread of Driverless Valet Parking
Mass fleets of self-driving cars have yet to arrive on our streets, but people are already worrying about where they’re going to park. If they all just circle around city blocks, competing to offer on-demand rides, they could slow traffic to a crawl, industry observers say. Autonomous robotaxi services like Alphabet unit Waymo’s are still … Continue reading “With Regulator’s Nod, Bosch Plans Spread of Driverless Valet Parking”
Moving Services Startup HireAHelper Acquired By Seattle’s Porch
HireAHelper.com, an online marketplace that links people who are moving to a new home with local movers and related services, has been acquired by Porch, which operates a marketplace that connects people with a variety of home repair and improvement services. The Seattle, WA-based acquirer says that last year it facilitated more than 2 million … Continue reading “Moving Services Startup HireAHelper Acquired By Seattle’s Porch”
Microsoft’s $1B For OpenAI Aimed at Improving Azure Cloud Platform
Microsoft announced Monday it will invest $1 billion in OpenAI, a young venture that aims to democratize the benefits of artificial intelligence and software-driven automation. The Redmond, WA-based tech giant says it will work with OpenAI in coming years to enhance Microsoft’s existing cloud computing and AI platform, Azure. San Francisco-based OpenAI says it plans … Continue reading “Microsoft’s $1B For OpenAI Aimed at Improving Azure Cloud Platform”
Spine-Surgery Medtech Startup Carlsmed Merges With Imaging Company
Carlsmed, a San Diego-based medical technology company that’s developing personalized spinal implants, has merged with Precisive Surgical, a spine imaging system startup in Seattle. The combined company, which will operate in San Diego under the Carlsmed name, aims to create a platform that will use imaging recognition technology, 3D printing, and other tools to allow … Continue reading “Spine-Surgery Medtech Startup Carlsmed Merges With Imaging Company”
Could Facebook’s Crypto Break Financial System? Congress Airs Fears
In late 2017, a federal watchdog unit assigned a working group to keep an eye on cryptocurrencies such as Bitcoin, and to sound an alert if those alternate currencies showed signs of becoming a risk to the stability of the US financial system. Soaring prices of Bitcoin and other so-called digital tokens were attracting investments … Continue reading “Could Facebook’s Crypto Break Financial System? Congress Airs Fears”
Bio Roundup: Opioid Exposé, Gilead’s Gambit, Life Science IPOs & More
The opioid crisis reaches all corners of the nation, and newly released data this week revealed how the growth of the epidemic tracked with a massive increase in the production and distribution of these drugs. From 2006 to 2012, the number of pills distributed to pharmacies increased by more than 50 percent. In total, 76 … Continue reading “Bio Roundup: Opioid Exposé, Gilead’s Gambit, Life Science IPOs & More”
Genmab, Mirum Pharma & Fulcrum Raise $653M in Wall Street Debuts
Initial public offerings took a brief summer break the week of Independence Day, but healthcare IPO activity resumed this week as three more companies joined the US public markets. Here’s a recap of the biotech companies that priced IPOs Wednesday evening. —Genmab is different from the other life science companies that joined the public markets … Continue reading “Genmab, Mirum Pharma & Fulcrum Raise $653M in Wall Street Debuts”
Immusoft Taps Phylogica’s Robert Hayes as Chief Scientific Officer
Robert Hayes has been appointed chief scientific officer of Seattle-based Immusoft. Hayes joins the cell therapy developer from Phylogica, where he was chief scientific officer for the past two years. His experience also includes positions at Amgen (NASDAQ: [[ticker:AMGN]]) and Johnson & Johnson (NYSE: [[ticker:JNJ]]). Immusoft, which is developing therapies based on modifying a patient’s … Continue reading “Immusoft Taps Phylogica’s Robert Hayes as Chief Scientific Officer”
Amperity Raises $50M for Marketing Software Used by Consumer Brands
Amperity, a Seattle-based startup developing software to help consumer-facing brands collect and manage customer data, announced Monday it has raised $50 million in new financing to add more clients in industries on which it hasn’t previously concentrated. New York-based Tiger Global Management led the Series C funding round. Other participating investors included Goldman Sachs, Madera … Continue reading “Amperity Raises $50M for Marketing Software Used by Consumer Brands”