[Corrected 5/31/19, 8:48 am ET. See below.] Pharmaceutical companies that make or market opioids have found themselves in legal hot water, and much of the heat is coming from Oklahoma. This week, a trial began litigating Johnson & Johnson’s responsibility for opioid addiction in the Sooner State. Johnson & Johnson (NYSE: [[ticker:JNJ]]) entered the Norman, … Continue reading “Bio Roundup: Opioids in Court, IPO Parade, Brain Cancer Bet & More”
Category: Seattle
Quantum Computing 101: Brilliant, Google, Microsoft Training Workers
From Microsoft and IBM to Alphabet’s unit X and Canada’s D-Wave Systems, companies are racing to build powerful quantum computers that may solve problems beyond the capacity of the most sophisticated conventional processors, and do it much faster. It’ll be some years before such uber-computers are robust and reliable enough for broad commercial use. But … Continue reading “Quantum Computing 101: Brilliant, Google, Microsoft Training Workers”
Agenda Posted for Net@50 on July 16 at MIT Media Lab
Come celebrate milestones the internet has made over the past 50 years at a special event called Net@50 on July 16 in Cambridge, MA, organized by the World Frontiers Forum and Xconomy. An afternoon forum at the MIT Media Lab will explore the big issues and challenges surrounding the internet. And a gala dinner at … Continue reading “Agenda Posted for Net@50 on July 16 at MIT Media Lab”
Can Tiny Drug Doses (and One Woman’s Fortune) Fight the Most Vicious Cancer?
When the brain goes bad, modern medicine is often powerless to help. That’s the case for Alzheimer’s disease, where drug after drug has failed, and the only approved treatments are marginally helpful at best. The same seems increasingly clear for the most common and aggressive type of brain cancer, glioblastoma multiforme. Its origins are mysterious, … Continue reading “Can Tiny Drug Doses (and One Woman’s Fortune) Fight the Most Vicious Cancer?”
OpenSesame Gets $28M as Job Training Software Market Stays Active
OpenSesame, a company developing workforce education and training software, announced Wednesday it has raised about $28 million from investors. Portland OR-based OpenSesame says in a news release that it plans to use some of the proceeds from the Series C round to offer more courses and fund sales and marketing of its products. FTV Capital, … Continue reading “OpenSesame Gets $28M as Job Training Software Market Stays Active”
Immunotherapy Is Now Here For Breast Cancer. What Are Its Prospects?
Drugs that rev up a patient’s immune system have changed how we treat cancers of the skin, lung, and more, offering people whose tumors have spread a chance to live longer than ever thought possible. But until this year, the field had nothing for breast cancer, which kills more women than any other cancer type. … Continue reading “Immunotherapy Is Now Here For Breast Cancer. What Are Its Prospects?”
Second US Gene Therapy, Approved for Rare Muscle Disease, to Cost $2M
The FDA today has made Zolgensma, a Novartis treatment for the rare genetic disease spinal muscular atrophy, the second approved gene therapy in the US. The news marks a milestone for SMA patients, who have only one other approved medicine available. But it comes with a cost: At $2.125 million, Zolgensma’s price tag creates a … Continue reading “Second US Gene Therapy, Approved for Rare Muscle Disease, to Cost $2M”
Bio Roundup: Zolgensma Watch, Brain Cancer Blues, Peloton Payout & More
Patients, doctors, family members, and drug-price watchdogs continued to wait for the expected approval of Zolgensma, a Novartis (NYSE: [[ticker:NVS]]) gene therapy for the rare inherited disease spinal muscular atrophy. Originally developed at a children’s hospital in Ohio, Zolgensma will be a litmus test for the nascent field. If approved this week or next, it … Continue reading “Bio Roundup: Zolgensma Watch, Brain Cancer Blues, Peloton Payout & More”
Sebastian Thrun and Udacity Launch New Self-Driving Nanodegree
[Corrected 5/21/19, 11:04 am. See below.] Sebastian Thrun first made his mark on autonomous vehicle development at the dawn of that industry, when he led a Stanford team whose robot car Stanley won the $2 million DARPA Grand Challenge in 2005 by racing driverless through the Mojave Desert for 132 miles. These days, Thrun seems … Continue reading “Sebastian Thrun and Udacity Launch New Self-Driving Nanodegree”
Auth0 Gets “Unicorn” Status as It Raises $103M for Security Tools
Auth0, a Bellevue, WA-based developer of user identification and login tools for software makers and large businesses, announced Monday it has raised $103 million in new financing. Under the terms of the deal, investors valued Auth0 at more than $1 billion, putting it among the ranks of tech startup “unicorns.” Sapphire Ventures, based in Silicon … Continue reading “Auth0 Gets “Unicorn” Status as It Raises $103M for Security Tools”
HAP Partners With Livongo on Tech-Enabled Diabetes Compliance Program
As digital health applications continue to grow in popularity, yet achieve only mixed results, one area in which tech-enabled tools have found success is among diabetes patients. Health Alliance Plan (HAP), a Detroit-based nonprofit health insurance provider, wants to leverage that success with a new program in partnership with Mountain View, CA-based Livongo, maker of … Continue reading “HAP Partners With Livongo on Tech-Enabled Diabetes Compliance Program”
Hewlett Packard Enterprise Buying Supercomputer Pioneer Cray for $1.3B
Hewlett-Packard Enterprise will pay $1.3 billion to acquire Cray, a Seattle business that develops software used in supercomputers and other high-powered machines. High-performance computing technologies, such as those developed by Cray, are seen as central to sorting through “the explosion of data” resulting from innovations in areas like artificial intelligence and data analytics, HPE says. … Continue reading “Hewlett Packard Enterprise Buying Supercomputer Pioneer Cray for $1.3B”
Bio Roundup: Generic Drugs Graft, ASCO Ahead, ElevateBio Rises & More
Generic drugs are supposed to give consumers more choices and a counterweight to more costly branded medications. During his tenure as FDA commissioner, Scott Gottlieb often spoke about generics as a market force that could help tame climbing drug prices. But such tools only work when companies play fair. A lawsuit is now claiming that … Continue reading “Bio Roundup: Generic Drugs Graft, ASCO Ahead, ElevateBio Rises & More”
Apptio Continues Acquisition Spree With Deal to Buy Cloudability
Apptio, a Bellevue, WA-based company that helps corporate technology leaders manage their IT spending, announced Thursday it has agreed to acquire Cloudability, a Portland, OR-based developer of software for tracking cloud-computing expenditures. Apptio’s news release announcing the deal did not disclose any of its financial terms. The deal, which comes on the heels of other … Continue reading “Apptio Continues Acquisition Spree With Deal to Buy Cloudability”
ASCO Abstracts: Breast Cancer, Precision Treatments in the Spotlight
The world’s biggest annual cancer conference is just around the corner. Data presented at the American Society of Clinical Oncology meeting each year can change medical practice and make or break companies whose drugs are under the microscope. That’s what makes even the “abstracts,” or snippets of data revealed a few weeks before the meeting, … Continue reading “ASCO Abstracts: Breast Cancer, Precision Treatments in the Spotlight”
Karat Gets $28M for Software, Team That Assess Job-Seeking Engineers
Karat, a Seattle-based startup that uses a combination of software and a stable of freelance interviewers to help tech companies assess job applicants, announced Wednesday it has raised $28 million in new funding. Tiger Global Management led the Series B funding round, Karat says. Other participating investors included return backers Norwest Venture Partners and 8VC. … Continue reading “Karat Gets $28M for Software, Team That Assess Job-Seeking Engineers”
Endpoint Security Company CrowdStrike Files Publicly for IPO
CrowdStrike, the cybersecurity company that identified the two Russian government-linked hacker groups that invaded the Democratic National Committee (DNC)’s network during the 2016 presidential campaign, filed publicly for an initial public offering on Tuesday. Sunnyvale, CA-based CrowdStrike sells cloud-based security software and related services by subscription to businesses. Founded in 2011, the company adapted traditional … Continue reading “Endpoint Security Company CrowdStrike Files Publicly for IPO”
Stock, Profit & AI: Carbon Black CEO Reviews Year Since IPO
It’s been a little over a year since Carbon Black debuted on the Nasdaq stock exchange, raising $152 million selling its shares to the public for the first time. The Waltham, MA-based cybersecurity company’s stock price (NASDAQ: [[ticker:CBLK]]) has bounced around since its initial pricing at $19 a share and closing its first day of … Continue reading “Stock, Profit & AI: Carbon Black CEO Reviews Year Since IPO”
Seattle’s TransformativeMed Carves Out Niche in Medical Specialties
An estimated 99 percent of US hospitals now track patients’ health information using computerized records systems, many of which were installed to replaced paper medical charts. As a result, startups are rushing in to capitalize on the recent health-records digitization wave. Some of them, like Seattle-based TransformativeMed, are making the case that their add-on software … Continue reading “Seattle’s TransformativeMed Carves Out Niche in Medical Specialties”
Milestones of Innovation 17: ‘Golden Spike’ Heralds Era of Cheap Steel
One hundred fifty years ago May 10, around mid-day, railroad promoters from two coasts clumsily drove the final spikes of America’s first transcontinental railroad near Promontory Point, Utah. Two of the spikes used that day were made of gold. The blows themselves triggered a telegraphic message to the world. The joining of the Central Pacific … Continue reading “Milestones of Innovation 17: ‘Golden Spike’ Heralds Era of Cheap Steel”
Tech Ethics, Regulation & Strategy: Here’s the Napa Summit Agenda
With Uber’s long-awaited IPO, Facebook’s mounting controversies, and ongoing debates over drug pricing and safety issues, come a great responsibility. A big story in the innovation community now is about the ethics and regulation of tech and life sciences. What are the right ways to safeguard the public, hold corporations accountable, and maintain economic growth? … Continue reading “Tech Ethics, Regulation & Strategy: Here’s the Napa Summit Agenda”
Bio Roundup: Rare Disease Showdowns, Prices on TV, Dealmania & More
The market for drugs for rare or “orphan” diseases continues to grow. An April report from Evaluate Pharma predicted sales of orphan drugs to rise 12 percent a year between now and 2024, when they will account for an estimated 20 percent of worldwide prescription drug sales. The field has gotten so competitive that multiple … Continue reading “Bio Roundup: Rare Disease Showdowns, Prices on TV, Dealmania & More”
Uber Completes $8.1B Public Market Debut in Spite of Tumultuous Past
[Updated 5/10/19, 5 pm ET. See below.] Ride-hailing giant Uber secured $8.1 billion in new capital late Thursday as it priced an initial public offering that set its market capitalization at $82.4 billion, according to calculations by The New York Times and other news outlets. Uber announced late Thursday it will sell 180 million shares … Continue reading “Uber Completes $8.1B Public Market Debut in Spite of Tumultuous Past”
Two Days, Five Biotech IPOs, and $359M Raised for Clinical Trials
It will be hard to top last year’s flurry of biotech companies joining the public markets, but this week is shaping up to be the busiest for life science IPOs in recent memory. Five biotechs priced their IPOs and at least one more is coming. According to IPO research firm Renaissance Capital, 47 IPOs have … Continue reading “Two Days, Five Biotech IPOs, and $359M Raised for Clinical Trials”
Super Saver Rate for Seattle Life Science Xchange Event Ends Tomorrow
Grab your ticket now to attend Life Science Xchange: Closer to Convergence. Join Xconomy on June 25 at Cambia Grove in Seattle to hear the stories of local organizations taking advantage of the growing convergence of biology and data to discover, develop, and deliver healthcare innovation to patients— in the form of drugs, diagnostics, devices, … Continue reading “Super Saver Rate for Seattle Life Science Xchange Event Ends Tomorrow”
Lyft Posts $1.1B Loss for Q1 in First Earnings Report Post-IPO
Newly public ride-hailing company Lyft (NASDAQ: [[ticker:LYFT]]) filed its first-quarter earnings results Tuesday, reporting a 95 percent increase in revenue compared with the same period in 2018, but a net loss of nearly $1.14 billion. That first-quarter loss includes $894 million of stock-based compensation and other expenses triggered by the completion of Lyft’s IPO on April … Continue reading “Lyft Posts $1.1B Loss for Q1 in First Earnings Report Post-IPO”
SMA, Migraine Data Lead Neuro Highlights from AAN Meeting
The American Academy of Neurology meeting in Philadelphia is rolling on through the end of this week. There has been plenty of news to digest already. New clinical data could herald cutting-edge treatments for migraine, the rare disease spinal muscular atrophy, the deadly neurological disorder amyotrophic lateral sclerosis, and more. Xconomy previewed the conference last … Continue reading “SMA, Migraine Data Lead Neuro Highlights from AAN Meeting”
Flexe Gets $43M to Expand On-demand Warehousing and Fulfillment Tools
Flexe, a Seattle-based company that provides on-demand warehousing and fulfillment services, announced Tuesday it has raised $43 million in new funding. Flexe says it plans to use some of the proceeds from the Series B round for product development, and to more that double its current headcount. San Francisco-based Activate Capital and New York-based Tiger Global … Continue reading “Flexe Gets $43M to Expand On-demand Warehousing and Fulfillment Tools”
Canadian VCs Lead US in Gender Parity, But Both Need Work: Report
Women hold a small fraction of venture capital leadership roles in the US and Canada. A new report suggests their clearest path to venture investing may run through corporate innovation arms. While only 15.9 percent of corporate venture capital (CVC) leaders are women, 82.6 percent of women who hold executive or partner roles in those … Continue reading “Canadian VCs Lead US in Gender Parity, But Both Need Work: Report”
Linux Foundation’s Open Source Automotive Software Project Takes Off
When we last covered the Linux Foundation’s Automotive Grade Linux (AGL) project—a collaborative, cross-industry, nonprofit effort to develop a common, open-source software stack for the connected car—it was 2016 and the automotive industry was just beginning to warm up to development partnerships that could advance autonomous vehicles and other mobility services. Three years later, and … Continue reading “Linux Foundation’s Open Source Automotive Software Project Takes Off”
TerraClear Seeks to Join Agtech Market with Rock Picker for Tractors
Brent Frei, a serial entrepreneur who has helped launch and lead several successful early-stage businesses in the Seattle-area, is getting back to his roots as part of his latest startup, TerraClear. That has meant a return to Frei’s hometown, Grangeville, ID, where TerraClear recently opened a facility it plans to use for product testing. The … Continue reading “TerraClear Seeks to Join Agtech Market with Rock Picker for Tractors”
Athira Pharma Appoints Hans Moebius Chief Medical Officer
Hans Moebius has joined Athira Pharma as chief medical officer. Moebius’s experience includes positions at Ciba-Geigy, Novartis (NYSE: [[ticker:NVS]]), Merz Pharma, TauRx, and Allergan (NYSE: [[ticker:AGN]]). Seattle-based Athira, which recently changed its name from M3 Biotechnology, is currently testing lead drug candidate NDX-1017 in a Phase 1 study in patients with Alzheimer’s disease, dementia, or … Continue reading “Athira Pharma Appoints Hans Moebius Chief Medical Officer”
Bio Roundup: Head and Spine Previews, Biogen Moves, IPO Dreams & More
America continues to suffer from healthcare headaches. Our convoluted private-public insurance system was under scrutiny this week from Democrats, holding a “Medicare for All” hearing in the House, and from Republicans, as several GOP-led states and the Trump administration asked a federal court to sweep away Obamacare. Several companies also want to reduce headaches. This … Continue reading “Bio Roundup: Head and Spine Previews, Biogen Moves, IPO Dreams & More”
At Big Neuro Meeting, Migraine Drug Competitors to Make Oral Arguments
The first new class of migraine drugs in decades won FDA approval last year. But the companies who commercialized these new therapies and their potential competitors are already planning new, more convenient versions, taken as pills instead of injectoins just below the skin, and they will present key data in the next few days at … Continue reading “At Big Neuro Meeting, Migraine Drug Competitors to Make Oral Arguments”
Smartsheet Makes Another Software Acquisition With Deal for 10,000ft
Smartsheet, a company that sells collaborative project-tracking software for business users, announced Thursday it has acquired 10,000ft, a startup developing digital tools organizations use to organize their schedules and track the time they spend on work projects. Both firms are based in the Seattle area. Smartsheet (NASDAQ: [[ticker:SMAR]]) did not disclose financial terms of the … Continue reading “Smartsheet Makes Another Software Acquisition With Deal for 10,000ft”
SeaGen’s Josephson Jumps to Zymeworks to Lead Clinical Research
Neil Josephson is joining Zymeworks (NYSE: [[ticker:ZYME]]) to become vice president of clinical research. Josephson comes to the Vancouver, BC-based drug developer from Seattle Genetics (NASDAQ: [[ticker:SGEN]]), where he was vice president of clinical development. In other moves, Zymeworks appointed Mark Hollywood to serve as senior vice president, technical and manufacturing operations, and Bruce Hart … Continue reading “SeaGen’s Josephson Jumps to Zymeworks to Lead Clinical Research”
Beyond Meat’s IPO Bags $241M to Make Plant-Based Burgers Mainstream
A Beyond Meat burger is coming to a location near you—and soon. The food technology company’s upsized IPO has raised $241 million to finance plans to bring its plant-based “meat” to more grocery stores and restaurants across the country. Beyond Meat priced its IPO Wednesday evening at $25 per share, which was the high end … Continue reading “Beyond Meat’s IPO Bags $241M to Make Plant-Based Burgers Mainstream”
SMA Moment: Will Gene Therapy Shift Treatment, Costs of Muscle Disease?
This is a big moment for people diagnosed with spinal muscular atrophy, or SMA, a rare and potentially lethal genetic disorder that destroys muscles. For decades, there was no way to change the trajectory of their disease. They now have one marketed medicine, and this month, chances are they’ll have another: a gene therapy that … Continue reading “SMA Moment: Will Gene Therapy Shift Treatment, Costs of Muscle Disease?”
Madrona to Invest Beyond Pacific Northwest With New $100M Fund
The biggest backer of technology startups in the Pacific Northwest, Madrona Venture Group, announced a new, $100 million fund Wednesday. The Seattle-based investment firm says it intends to make investments out of its Acceleration Fund in companies outside of the geographic footprint of its current portfolio, and will target companies that are more mature than … Continue reading “Madrona to Invest Beyond Pacific Northwest With New $100M Fund”
Retailers, Startups Work to Offer Efficient E-Commerce Delivery
The on-demand delivery war in retail is on. In its quarterly earnings call Thursday, Amazon (NASDAQ: [[ticker:AMZN]]) announced it would switch to one-day shipping for Prime members, halving the time the 100 million-plus people who subscribe to the service must wait before receiving their purchases. The Seattle e-commerce giant told analysts the move would cost around … Continue reading “Retailers, Startups Work to Offer Efficient E-Commerce Delivery”
Washington VC Watch: Pattern Computer, Chatbox, Joylux & More
Catch up on funding news from April involving technology companies based in Washington state: —Pattern Computer, a Redmond-based startup developing pattern discovery software, raised nearly $2.7 million, according to a regulatory filing. The company says its software has potential applications in fields such as oncology and precision medicine, and last month announced a collaboration with … Continue reading “Washington VC Watch: Pattern Computer, Chatbox, Joylux & More”
Ford, Lincoln Owners Can Get Amazon Packages Delivered to Their Cars
Many of us know that anxious feeling that comes when Amazon texts a notification that it has delivered your package, except you’re nowhere near home at the time to receive it. The mind races: is the package sitting out in plain view for would-be thieves to notice? Will it be destroyed by a passing downpour? … Continue reading “Ford, Lincoln Owners Can Get Amazon Packages Delivered to Their Cars”
Baldo Leaves Genentech for Adaptive Bio Chief Medical Officer Post
Adaptive Biotechnologies has appointed Lance Baldo to serve as its chief medical officer. Baldo comes to Seattle-based Adaptive from Roche subsidiary Genentech, where he was senior vice president and head of US medical affairs. His experience also includes posts at The Medicines Company (NASDAQ: [[ticker:MDCO]]) and MedAptus. Earlier this year, Adaptive and Genentech launched a … Continue reading “Baldo Leaves Genentech for Adaptive Bio Chief Medical Officer Post”
Finding Your Startup Lawyer: What Every Entrepreneur Should Know
Successful management of any new enterprise, regardless of industry, is a process demanding of concerted effort to realize opportunity with a finite set of resources. As an entrepreneur, perfecting your vision, securing and managing funds, building a team, marketing and selling, and executing on plan, all while navigating unexpected obstacles, likely occupy your every day. … Continue reading “Finding Your Startup Lawyer: What Every Entrepreneur Should Know”
AppSheet Raises $15M To Help People Who Aren’t Pro Coders Build Apps
Many of today and tomorrow’s high-paying jobs require a command of computing concepts and programming languages, but learning such skills from the ground up can be a time-intensive and expensive endeavor. While there’s high demand in the job market for people with these technical skills, some companies, such as Seattle-based AppSheet, are offering services designed … Continue reading “AppSheet Raises $15M To Help People Who Aren’t Pro Coders Build Apps”
Bio Roundup: Biogen’s Strategy, Drug Price Convo, NASH News & More
The road to every new drug approval is littered with the remains of earlier failures. Biopharmaceutical companies don’t like to talk about the failures. But it’s earnings season now, so some of them don’t have much choice. Biogen’s (NASDAQ: [[ticker:BIIB]]) earnings call this week was the first since its Alzheimer’s drug aducanumab failed in a Phase … Continue reading “Bio Roundup: Biogen’s Strategy, Drug Price Convo, NASH News & More”
Francisco Partners Buys Stake in PayScale, Exiting Warburg Pincus
PayScale, a Seattle-based compensation data company, announced Thursday it is selling a majority stake in the business to private equity fund Francisco Partners for an undisclosed amount of funding. The deal terms value PayScale at $325 million, the company says. People use PayScale to get an idea of how much particular professions and employers pay. … Continue reading “Francisco Partners Buys Stake in PayScale, Exiting Warburg Pincus”
Gates Foundation-Xinova Tie-Up Aimed at Using Data to Fight Malaria
A pair of Seattle-based organizations want to harness big data to help combat a big global health problem: malaria. Xinova, which operates a global innovation network to help people turn ideas into real-world products and services, said Thursday it’s seeking proposals for improved management of data on medications and supplies used to prevent and treat … Continue reading “Gates Foundation-Xinova Tie-Up Aimed at Using Data to Fight Malaria”
To Help Boost Female-led Startups, More Women Join Investor Ranks
Houston—Men have long leveraged their networks to succeed in business, and the tech industry has been no exception. Women, finding themselves outside of the club, are now creating their own networks to do the same. Katelyn O’Shaughnessy already had a solid track record, selling TripScope, a travel startup she co-founded in 2013, to Travefy two … Continue reading “To Help Boost Female-led Startups, More Women Join Investor Ranks”
Announcing Net@50: The Roots and Future of the Internet
The first short message went out over Arpanet, the precursor to the internet, 50 years ago this year—and it changed everything. Much of the change has been wonderful—as the internet has revolutionized communication, commerce, and access to information, in the process transforming and improving the lives of billions of people. But as we are ever … Continue reading “Announcing Net@50: The Roots and Future of the Internet”