With a second big clinical failure, Teva Pharmaceutical is abandoning efforts to extend the use of its approved migraine drug to the treatment of cluster headaches, a rarer form of headache that typically affects one side of the head around the eye or the temple. Teva (NYSE: [[ticker:TEVA]]) said Tuesday that an interim analysis of … Continue reading “Teva’s Approved Migraine Drug Fails Again to Blunt Rarer Headache”
Category: Seattle
CI Security Raises $9.6M to Help Customers Manage Cyber Threats
CI Security, a startup that provides its customers with cybersecurity software and expertise in detecting and responding to digital intrusions and threats, announced Monday it has raised $9.6 million in new funding. Seattle-based CI Security, which was previously known as Critical Informatics, says it plans to use some of the new cash to continue developing … Continue reading “CI Security Raises $9.6M to Help Customers Manage Cyber Threats”
Join Xconomy for Our 8th Annual Napa Summit, June 13-14
Google. Amazon. Genentech. Those are some of the companies you’ll hear from at this year’s Napa Summit, the Xconomy Retreat on Technology, Jobs, and Growth. This is our most special event of the year—the eighth year we’ve held it—and it’s limited to about 100 VIP guests. We’ll tackle big trends, challenges, and opportunities in areas … Continue reading “Join Xconomy for Our 8th Annual Napa Summit, June 13-14”
ServiceNow Alum’s Perspectium Adds $8M More for Integration Tools
ServiceNow, one of the most valuable software companies ever founded in San Diego, launched in 2003, before enterprise software-as-a-service became a topic of mainstream discussion. Today’s tech landscape is dotted with companies that investors have valued at $1 billion or more—an elite club, members of which have come to be known as “unicorns,” and dozens … Continue reading “ServiceNow Alum’s Perspectium Adds $8M More for Integration Tools”
SPECIAL REPORT: 2019 Blockchain Outlook — Reality Check
After a breakout year in 2017, the blockchain sector suffered a series of blows in 2018, from crashing cryptocurrency prices to increased regulatory scrutiny of crypto ventures and deepening skepticism about whether the technology was actually useful. Now, the industry has entered a crucial phase where blockchain developers need to overcome the limitations of the … Continue reading “SPECIAL REPORT: 2019 Blockchain Outlook — Reality Check”
Can We Afford to Be Cured? A Conversation With ICER’s Steve Pearson
[Corrected, 4/23/19, 7:10 p.m. See below.] New cell and gene therapies bring the possibility of cures once hardly imaginable. But the potential cures could also cost millions of dollars, like Novartis (NYSE: [[ticker:NVS]]), the owner of the gene therapy Zolgensma, has suggested in advance of an imminent FDA approval decision. As public backlash against high … Continue reading “Can We Afford to Be Cured? A Conversation With ICER’s Steve Pearson”
MagniX, Eviation Partner to Develop Electric Plane For Short Flights
MagniX and Eviation Aircraft, two businesses working to get the nascent electric airplane industry off the ground, announced a partnership Monday under which Eviation will outfit one of the planes it’s developing with an electric propulsion system made by MagniX. The partnership, which was fittingly unveiled on Earth Day, could ultimately lead to some passengers … Continue reading “MagniX, Eviation Partner to Develop Electric Plane For Short Flights”
Xconomy’s Seattle Event to Explore Tech Convergence in Life Sciences
The lines between biotech and high tech are blurring, and Seattle is one of the country’s hotspots for this convergence. IT innovations for analyzing big data are finding applications in drug discovery research. Smartphones can now be used to collect clinical data and also deliver a new wave of “digital treatments.” On June 25, Xconomy … Continue reading “Xconomy’s Seattle Event to Explore Tech Convergence in Life Sciences”
TerraClear Raises $4.7M for Machine Designed to Pick Rocks from Soil
TerraClear, a Bellevue, WA-based startup launched two years ago with the vision of using software and high-tech machinery to automatically remove rocks from soil farmers plan to grow crops in, has raised nearly $4.7 million to support commercialization efforts, according to a regulatory filing. Three investors participated in the equity funding round, the filing shows. … Continue reading “TerraClear Raises $4.7M for Machine Designed to Pick Rocks from Soil”
Bio Roundup: Nationwide’s Rise, a Surgeon’s Quest, CRISPR USA & More
Persistence and perseverance were the themes of two of our top stories this week. First there’s the story of Nationwide Children’s Hospital. The Columbus, Ohio, hospital chose to invest in gene therapy when the field was in its darkest days. After some ups and downs, the team it put in place helped advance some of … Continue reading “Bio Roundup: Nationwide’s Rise, a Surgeon’s Quest, CRISPR USA & More”
Bardy Diagnostics to Ramp Up Cardiac Monitor Sales With $35M Raise
Bardy Diagnostics, a Seattle-based business developing a cardiac monitor and arrhythmia detection device, announced this week it has raised $35.5 million from investors to hire additional salespeople and fund continued product development. Bardy’s flagship device is an hourglass-shaped patch that Bardy says is designed to be placed on the center of the patient’s chest, over … Continue reading “Bardy Diagnostics to Ramp Up Cardiac Monitor Sales With $35M Raise”
Redox Wrangles $33M to Become Healthcare’s Go-To Data Integrator
[Updated 5/3/19, 12:55 pm CT. See below.] As hospitals and clinics have shifted from paper-based records to digital systems, one of the biggest challenges has been sharing patient data between healthcare providers, and between providers and outside software applications. This “interoperability” problem has created a market for companies such as Redox, a Madison, WI-based startup … Continue reading “Redox Wrangles $33M to Become Healthcare’s Go-To Data Integrator”
$100M for Talaris Gives Surgeon a Shot to Reinvent Organ Transplants
When Novartis dissolved its gene and cell therapy unit a few years ago, a bunch of projects the Swiss pharma giant had incubated were tossed aside. One of them was the work of surgeon Suzanne Ildstad, who has spent decades trying to develop a new way to improve the health outcomes of patients who need … Continue reading “$100M for Talaris Gives Surgeon a Shot to Reinvent Organ Transplants”
New Microsoft, Intel Accelerator Seeks Tech to Make Houston Smart
Houston—Sensors that can measure rising waters in real time through internet-connected digital road signs, preventing commuters from driving into flooded underpasses. Traffic signals that use cameras and analytics to adjust the time allowed to cross streets, depending on the individual who is in the crosswalk. Those are among the types of technologies that could be … Continue reading “New Microsoft, Intel Accelerator Seeks Tech to Make Houston Smart”
Qualcomm, Apple End Worldwide Legal Fights with Settlement Agreement
Wireless giant Qualcomm and smartphone maker Apple have been publicly feuding in courts around the globe, accusing one another of illegal business practices for more than two years. On Tuesday, the companies announced that the litigation between the two tech firms would be dismissed. San Diego-based Qualcomm (NASDAQ: [[ticker:QCOM]])—which, among other products, makes sophisticated components … Continue reading “Qualcomm, Apple End Worldwide Legal Fights with Settlement Agreement”
Seattle’s Outreach Joins Unicorn Ranks With $114M Funding Round
Another tech “unicorn”—privately controlled startups valued at $1 billion or more—has been minted following sales software company Outreach’s latest venture funding round, a $114 million deal. Seattle-based Outreach develops customer relationship management tools designed to improve communication between salespeople and their prospective clients. Launched in 2013, the startup says its most recent round of financing … Continue reading “Seattle’s Outreach Joins Unicorn Ranks With $114M Funding Round”
Founders’ Co-op Raises $25M to Back More Pacific Northwest Startups
Founders’ Co-op, a Seattle-based venture capital firm that has backed nearly 100 startups since its launch 11 years ago, has raised a new, $25 million fund to continue making investments. According to a document filed with federal securities regulators, it’s the fourth fund Founders’ Co-op has raised, and the money came from 99 investors. In … Continue reading “Founders’ Co-op Raises $25M to Back More Pacific Northwest Startups”
Alder Bio Picks AbbVie’s Nadia Dac for Chief Commercial Officer
Nadia Dac has joined Alder BioPharmaceuticals (NASDAQ: [[ticker:ALDR]]) as chief commercial officer. She comes to the Bothell, WA, biotech from AbbVie (NYSE: [[ticker:ABBV]]), where she was vice president of global specialty commercial development. Her experience also includes positions at Novartis (NYSE: [[ticker:NVS]]), Biogen (NASDAQ: [[ticker:BIIB]]), and Pfizer (NYSE: [[ticker:PFE]]). In February, Alder filed for FDA … Continue reading “Alder Bio Picks AbbVie’s Nadia Dac for Chief Commercial Officer”
Show Me The Money: Seattle’s Showdigs Gets $3M for Real Estate Tools
Showdigs, a Seattle-based startup developing software to help prospective leasers schedule tours of apartments property managers have for rent, says it has raised $3 million in new funding to support its continued growth. A local investor, Bellevue, WA-based Trilogy Equity Partners, led the seed funding round, Showdigs says in a news release. Showdigs’ location-based tools … Continue reading “Show Me The Money: Seattle’s Showdigs Gets $3M for Real Estate Tools”
How an Ohio Kids’ Hospital Quietly Became Ground Zero for Gene Therapy
[Updated, 4/22/19, see below] If a once-modest regional hospital and its new biotech allies have their way, the capital of Ohio could one day rival America’s other biomedical hubs. “Our goal is to make Columbus the center of the universe for gene therapy,” says Doug Ingram, CEO of Sarepta Therapeutics. Sarepta (NASDAQ: [[ticker:SRPT]]) is based … Continue reading “How an Ohio Kids’ Hospital Quietly Became Ground Zero for Gene Therapy”
Lyft, Uber, and the Changing Disclosure Rules For Unicorn IPOs
When a much-watched tech company such as Lyft, Uber, or Pinterest files for an initial public stock offering, people eagerly scour the sudden trove of information that such a private business must finally disclose when it begins to offer shares to the general public, rather than only to sophisticated inside investors such as venture capital … Continue reading “Lyft, Uber, and the Changing Disclosure Rules For Unicorn IPOs”
Thwarting Opposition, Bristol Gets Shareholder OK for $74B Celgene Buyout
The early opposition has turned out to be just noise. Shareholders of Bristol-Myers Squibb today approved the pharma giant’s planned buyout of Celgene, paving the way for a deal that will create one of the largest biopharma organizations in the world, and send ripples throughout the sector. Bristol (NYSE: [[ticker:BMY]]) said Friday that more than … Continue reading “Thwarting Opposition, Bristol Gets Shareholder OK for $74B Celgene Buyout”
Bio Roundup: EASL Does It, Alnylam’s BFF, Gene Therapy Deals & More
A major conference devoted to liver disease kicked off with updates from the race for approval of the world’s first drug to treat a form of advanced liver disease called nonalcoholic steatohepatitis, or NASH. The gene therapy field continued to attract venture cash and industry interest, and it was a busy week in Washington for … Continue reading “Bio Roundup: EASL Does It, Alnylam’s BFF, Gene Therapy Deals & More”
Senators Grill Pharmacy Benefit Execs About Skyrocketing Drug Prices
Executives from five of the companies that negotiate drug prices on behalf of insurers testified Tuesday before the Senate finance committee. It was the latest in a series of hearings centered on the rising cost of prescription medication, which has captured attention on both sides of the political aisle and is likely to become a … Continue reading “Senators Grill Pharmacy Benefit Execs About Skyrocketing Drug Prices”
Apana Gulps Down $11M to Help Costco, Other Clients Track Water Use
Apana, which develops systems of sensor-equipped devices and complementary software to help facilities monitor their water use, announced Tuesday it has raised $11 million to fuel its continued growth. Grocery stores, hotels, and restaurants are among those who use Apana’s products and services, which the Bellingham, WA-based company says can help these organizations save money … Continue reading “Apana Gulps Down $11M to Help Costco, Other Clients Track Water Use”
VC Trends in 2019: More Money, Fewer Deals But Women Still Get Less
[Updated 11:23 a.m. See below.] If you’ve been following venture capital trends, what you expected to happen in the first quarter of 2019 did: More money is being invested in fewer deals, and women founders still are getting less of it than men. Venture firms sent $32.6 billion into startups nationally during the first three … Continue reading “VC Trends in 2019: More Money, Fewer Deals But Women Still Get Less”
RiskLens Raises $20M for Software That Quantifies Cyber Risk
RiskLens, a developer of software for assessing, communicating, and managing cyber risk, announced Monday it has raised more than $20 million from investors. Spokane, WA-based RiskLens says it plans to use some of the proceeds from the Series B funding round to expand its sales, marketing, engineering, and professional services teams. They’ll work to try … Continue reading “RiskLens Raises $20M for Software That Quantifies Cyber Risk”
Klaviyo Puts Google, Facebook, Amazon on Notice With $150M Raise
Klaviyo, a Boston e-commerce startup, wants retailers to take their advertising spending back from the tech behemoths Google, Amazon, and Facebook. The thinking behind the push, according to CEO Andrew Bialecki, is whether in the long term companies are better off handing over their ad dollars or doing the work and “owning” the marketing themselves. … Continue reading “Klaviyo Puts Google, Facebook, Amazon on Notice With $150M Raise”
Four Things Every Smart Startup Should Do as It Scales
Your startup began as “four smart people with laptops and a vision.” Fast-forward a few years and it’s a bona fide business with investors, employees, and a snappy logo. Stay on this path, and signs are good that you’ll continue to grow. It’s easy and convenient to keep doing what you’ve been doing as you … Continue reading “Four Things Every Smart Startup Should Do as It Scales”
Bio Roundup: Gottlieb’s Goodbye, AACR Recap, Migraine Drug Fight & More
Scott Gottlieb’s last day as FDA commissioner is today. His resignation announcement last month surprised some, given the earlier denials about leaving. But after two years of commuting between Connecticut, where his family remained, and the FDA’s Maryland headquarters, he decided to step down from the agency. What will Gottlieb’s legacy be? His efforts to … Continue reading “Bio Roundup: Gottlieb’s Goodbye, AACR Recap, Migraine Drug Fight & More”
Skills, Pills, & Hospital Bills: Amazon Debuts Alexa Health Features
Owners of Amazon’s voice-controlled, Internet-connected speakers can now use the gadgets to manage more aspects of their healthcare, following the company’s announcement Thursday that its Alexa devices can interface with software applications that process protected health information. As part of the announcement, Amazon (NASDAQ: [[ticker:AMZN]]) unveiled six “Alexa healthcare skills,” which allow patients to book … Continue reading “Skills, Pills, & Hospital Bills: Amazon Debuts Alexa Health Features”
UW Prof, Entrepreneur Shwetak Patel Awarded ACM Prize in Computing
The Association for Computing Machinery on Wednesday said it has awarded Shwetak Patel, a computer science and electrical engineering professor at the University of Washington, the 2018 ACM Prize in Computing. Patel, who is also a successful serial entrepreneur, will receive a cash prize of $250,000 as part of the award, ACM said. The award … Continue reading “UW Prof, Entrepreneur Shwetak Patel Awarded ACM Prize in Computing”
AACR 2019 Roundup: Notes from a Weekend of Early Stage Cancer Results
[Editor’s note: Alex Lash co-authored this report] The American Association for Cancer Research’s annual meeting is wrapping up in Atlanta today. The conference typically focuses on early research and clinical work, not the big trials that can change the way doctors practice medicine and that compete for headline space at conferences like the American Society … Continue reading “AACR 2019 Roundup: Notes from a Weekend of Early Stage Cancer Results”
Lear to Acquire Seattle Connected Vehicle Tech Firm Xevo For $320M
Lear Corp., a Southfield, MI-based manufacturer of car seats, automotive electrical systems, and other products, announced Tuesday it has agreed to acquire Xevo, a Seattle-based developer of connected vehicle software, for $320 million. Lear (NYSE: [[ticker:LEA]]) has been in business for over a century, and says its products are used by nearly every major automaker. … Continue reading “Lear to Acquire Seattle Connected Vehicle Tech Firm Xevo For $320M”
Seattle Venture Capital Watch: Crelate, Cyemptive, Blue Canoe & More
Businesses developing software to assist recruiters, corporate IT departments, and people learning to speak English are among the Seattle-area companies that have in recent weeks raised new funding from investors. Let’s catch up on some of the Emerald City Deals action. —Crelate Talent, which is developing recruiting software used by staffing agencies, executive search firms, … Continue reading “Seattle Venture Capital Watch: Crelate, Cyemptive, Blue Canoe & More”
“FacePalm” Bug Is a Jarring Wake-Up Call. And Not Just for Apple
Apple is a global icon. It was the first company in the world to reach a $1 trillion market capitalization, and it is the most valuable company in the world today. For the second year in a row, Apple ranked as the world’s most-admired company, in a Fortune survey of 3,750 business executives. PC magazine … Continue reading ““FacePalm” Bug Is a Jarring Wake-Up Call. And Not Just for Apple”
Impinj Unveils New Circuits Aimed at Expanding Firm’s IoT Platform
Even if you’ve never heard of Impinj, it’s likely you’ve come across examples of the Seattle-based company’s bread and butter—radio frequency identification technology—in real life. Radio frequency identification (RFID) tags are used, for example, by department stores to track inventory; by transportation agencies to power automated tolling systems; by mountain resorts to scan skiers’ lift … Continue reading “Impinj Unveils New Circuits Aimed at Expanding Firm’s IoT Platform”
Bio Roundup: Amyloid Angst, NASH News, Brammer Bagged & More
A week after the failure of Biogen’s Alzheimer’s drug aducanumab, the ripple effects are still being felt—and not just by Biogen, which lost billions of dollars in market value in a flash. We’ll kick off this week’s roundup with the aducanumab reaction, which includes plenty of thoughts about the future of the so-called “amyloid hypothesis” … Continue reading “Bio Roundup: Amyloid Angst, NASH News, Brammer Bagged & More”
Lyft Raises $2.2B in IPO, Pegging Valuation at Over $24B
Investors eager to bet on the mobility industry’s future handed ride-hailing company Lyft $2.2 billion in new capital Thursday as the company completed an IPO that set its market capitalization at $24.3 billion, The New York Times reported. Lyft sold 30.8 million shares at $72 apiece, according to Renaissance Capital—the top of a new range … Continue reading “Lyft Raises $2.2B in IPO, Pegging Valuation at Over $24B”
So You Want to Start a Cybersecurity Company?
Cybercrime has become a global epidemic. Attacks will cost the world $6 trillion by 2021, research firm Cybersecurity Ventures says-–the greatest transfer of economic wealth in history and more profitable than the trade in all major illegal drugs. As the threat keeps rising, the cybersecurity industry keeps growing. According to data released in January by … Continue reading “So You Want to Start a Cybersecurity Company?”
Xealth Gets $11M, Aims to Be Surescripts of Digital Health Services
Doctors prescribe all sorts of things for their patients, like drugs, medical procedures, and changes to diet and exercise regimen. Prescribing a software application—one that helps a patient manage diabetes, for example—may sound futuristic to some people. But to Mike McSherry, CEO of Xealth, a Seattle-based startup that announced $11 million in new funding Wednesday to … Continue reading “Xealth Gets $11M, Aims to Be Surescripts of Digital Health Services”
FTC Queries Internet Providers on Consumer Data Collection and Use
The Federal Trade Commission, which has been digging into the privacy practices of tech giants Facebook and Google, is now training its sights on the internet service providers that bring us all our online content. In its role as a consumer protection agency, the FTC ordered Verizon, AT&T, T-Mobile, Comcast, Google Fiber, and other ISPs … Continue reading “FTC Queries Internet Providers on Consumer Data Collection and Use”
MagniX & Harbour Air Want to Convert Seaplanes Into “ePlanes”
MagniX, a startup developing electric propulsion systems for small planes, has announced a partnership with a British Columbia airline to convert some of the seaplanes it operates into “ePlanes.” MagniX’s partnership with Richmond, BC-based Harbour Air is the first the propulsion technology startup has announced publicly, says CEO Roei Ganzarski. The deal’s financial terms were … Continue reading “MagniX & Harbour Air Want to Convert Seaplanes Into “ePlanes””
Q&A: Brains Behind Vicis’s Youth Helmet Talks Ratings, Safety & More
Football leagues at every level, from those made up of youth teams to the U.S.’s hugely popular National Football League, are taking steps aimed at making the sport safer for players. These efforts include rule changes outlawing certain types of contact, such as dangerous hits, and programs that instruct players and coaches on proper tackling … Continue reading “Q&A: Brains Behind Vicis’s Youth Helmet Talks Ratings, Safety & More”
Bio Roundup: Sage Postpartum Help, Biogen Bids Adu, Heart Beats & More
One group of people in dire need of medical relief got good news this week. The first drug for postpartum depression was approved. With its complicated logistics, side effects, and potential high cost, it won’t be for everyone who experiences the condition—1 of every 9 U.S. women giving birth. But at least it’s an option. … Continue reading “Bio Roundup: Sage Postpartum Help, Biogen Bids Adu, Heart Beats & More”
Gamers for Giving Provides Sick Children with Digital Playgrounds
In 2007, Zach Wigal and his friends at Saline High School decided to organize one of Southeast Michigan’s first competitive video game tournaments. They spent months preparing and eventually arranged to rent out the school’s cafeteria. Everything seemed to be in place, and with more than 300 people registered to attend, excitement ran high. Then, … Continue reading “Gamers for Giving Provides Sick Children with Digital Playgrounds”
New Funding for Workplace Software Firms Skedulo and Scope AR
Two young San Francisco companies on Wednesday announced fundraisings to bolster their online services aimed at improving workforce efficiency. —Skedulo, which helps managers schedule assignments for field service personnel, says it raised $28 million in a Series B funding round led by M12, Microsoft’s corporate venture arm. Joining in the round were previous investors Blackbird, … Continue reading “New Funding for Workplace Software Firms Skedulo and Scope AR”
New Accelerator Aims For Social Change With AR, VR, Gaming Startups
Games for Change, a non-profit that promotes the use of games and immersive technology for social good, is taking applications from startup teams for a new accelerator program it’s launching in New York City. New York-based Games for Change already encourages game and XR developers, by a variety of means, to build societal benefits into … Continue reading “New Accelerator Aims For Social Change With AR, VR, Gaming Startups”
U.S. Energy Dept. Awards $500M Supercomputer Contract to Intel, Cray
Computer chipmaker Intel and its subcontractor, Seattle-based Cray, say they expect a supercomputer they plan to eventually deliver will be a flop—an exaflop, that is. The U.S. Department of Energy’s Argonne National Laboratory has hired Intel (NASDAQ: [[ticker:INTC]]) and Cray (NASDAQ: [[ticker:CRAY]]) to build what the companies said Monday would be the first exascale supercomputer … Continue reading “U.S. Energy Dept. Awards $500M Supercomputer Contract to Intel, Cray”
Magnitude Software Takes $179M from Private Equity Firm 3i Group
Austin—[Updated 10:10 a.m. See below.] Magnitude Software is selling a $179 million stake in the company to London-based private equity firm 3i Group. Chris Ney, the founder, chairman, and CEO of Magnitude, is investing alongside 3i, the company announced. The company didn’t say whether the PE firm’s investment gave it a controlling interest. Magnitude said … Continue reading “Magnitude Software Takes $179M from Private Equity Firm 3i Group”