Two imminent FDA rulings on two separate drugs aren’t just noteworthy for the patients they’ll help, but the long and winding road their developers have taken to get to this point. First is Alnylam Pharmaceuticals, which has spent 16 years and over $2 billion to try to bring an unproven form of medicine, RNA interference … Continue reading “Bio Roundup: Medicare Drug Prices, FDA Moves, Gene Therapy News & More”
Category: Texas
You’ve Got Mail: Earth Class Mail Revamps After New Execs Take Over
San Antonio—Earth Class Mail, a 14-year-old company that digitizes snail mail for businesses, has announced a few upgrades to its product, including search features, the ability to share content over e-mail, and custom tags, among others. The new look and features are a reflection of a new CEO, Jess Garza, who took the helm of … Continue reading “You’ve Got Mail: Earth Class Mail Revamps After New Execs Take Over”
Austin Group Joins Other Tech Efforts to Promote Responsible AI Use
Artificial intelligence is poised to infiltrate nearly all aspects of human life. Given this development, technologists are focusing on how to ensure the technology usage is governed by ethics. “The general rule is that power begets responsibility,” says Michael Stewart, founder and CEO of Lucid AI, an AI startup in Austin. “If you’re bringing in a … Continue reading “Austin Group Joins Other Tech Efforts to Promote Responsible AI Use”
Lack of Diversity Isn’t a “Pipeline Problem,” It’s a Network Problem
Recently, I was in Chicago for Paradigm IQ’s D&I Lab: Data-Driven Strategies to Attract & Hire Diverse Talent, a one-day workshop designed to equip attendees with new strategies for designing an inclusive organization. In a room full of people with titles like chief people officer, director of diversity and inclusion, and director of leadership and organizational … Continue reading “Lack of Diversity Isn’t a “Pipeline Problem,” It’s a Network Problem”
ACM Report: AVs May be Less Disruptive to Trucking Jobs Than Expected
The advent of autonomous vehicles is expected to drastically change the transportation industry and affect those who work in it, but perhaps not as significantly as once thought, according to a new report commissioned by the American Center for Mobility. The study, which looked at potential impacts over the next decade, was funded by Waymo, … Continue reading “ACM Report: AVs May be Less Disruptive to Trucking Jobs Than Expected”
Austin’s Factom Eyes Series B After $6M SAFE Deal With LSE Investor
Austin—Blockchain record-tracking company Factom is taking a $6 million investment from an investment company that’s traded on a submarket of the London Stock Exchange. FastForward Innovations announced it created what’s known as a Simple Agreement for Future Equity (sometimes called a SAFE note) to invest the $6 million in Factom, which was founded in Austin … Continue reading “Austin’s Factom Eyes Series B After $6M SAFE Deal With LSE Investor”
Blockchain Tomatoes & Edible Peels: Startups Innovate to Fight Spoilage
As much as 40 percent of food in this country is never eaten, yet 41 million people don’t have enough to eat, including 13 million children, according to the Natural Resources Defense Council and the U.S. Department of Agriculture. Some of that food insecurity is due to food spoilage, rendering billions of dollars’ worth of … Continue reading “Blockchain Tomatoes & Edible Peels: Startups Innovate to Fight Spoilage”
The Technology Behind Fighting California’s Fires & Other Disasters
As wildfires continued to burn across the length of California this month, Gov. Jerry Brown urged residents to stay on the alert and warned that the cost of fighting the climate-driven blazes will continue to strain future state budgets. Residents of the three Northern California counties hardest hit by wildfires last year have already learned … Continue reading “The Technology Behind Fighting California’s Fires & Other Disasters”
With Etsy Wholesale Offline, Stockabl Aims to Fill Gap For Makers
Houston—While studying for her PhD in biomedical sciences, Adrianne Stone took up jewelry-making as a stress reliever and side hustle, and sold her wares on Etsy Wholesale. But late last year, Stone says, she began to notice bugs on the site and a lack of response from Etsy (NASDAQ: [[ticker:ETSY]]) about those issues. That prompted … Continue reading “With Etsy Wholesale Offline, Stockabl Aims to Fill Gap For Makers”
Bio Roundup: Alnylam’s Moment, Read on Rebates, Skinny Plans & More
Millions of people might be on vacation as we hit the dog days, but drug makers and politicians aren’t taking a break from the gamesmanship over high drug prices. After two years of blowing smoke, the Trump administration is threatening action on a few fronts, including against the powerful middlemen known as PBMs that decide … Continue reading “Bio Roundup: Alnylam’s Moment, Read on Rebates, Skinny Plans & More”
Arm Snaps Up Treasure Data To Complete IoT Device-To-Data Platform
[Corrected 8/3/18, 5:22 pm. See below.] Leading chipmaker and designer Arm announced today it is acquiring Silicon Valley data management company Treasure Data to complete a comprehensive platform to help customers efficiently extract and analyze data from Internet of Things devices. Cambridge, UK-based Arm, which was acquired by SoftBank for $32 billion in 2016, unveiled its … Continue reading “Arm Snaps Up Treasure Data To Complete IoT Device-To-Data Platform”
After Threats, Austin Founder Shut Browser Firm Authenticated Reality
Austin—When Authenticated Reality launched last year, it seemed that the company had struck gold in terms of market demand and fit. The Austin-based startup had developed a Web browser that would require users to prove they are who they say they are. Users would have to sign up for an account—scanning their driver’s license and … Continue reading “After Threats, Austin Founder Shut Browser Firm Authenticated Reality”
Cisco Plans to Buy Michigan Unicorn Duo Security for $2.35 Billion
Duo Security is set to be acquired by Cisco in a blockbuster deal worth about $2.35 billion. The purchase will bring San Jose, CA-based Cisco (NASDAQ: [[ticker:CSCO]])—which sells a variety of IT hardware, digital products, and services—a software-as-a-service security tool used to authenticate a user’s access to things like software, networks, and devices. The company … Continue reading “Cisco Plans to Buy Michigan Unicorn Duo Security for $2.35 Billion”
San Antonio Military Researchers to Receive Life Science Group Award
San Antonio — Two former military healthcare researchers in San Antonio will receive awards for their work from a life sciences group that promotes the local industry. Alan Peterson, who is developing methods of preventing, detecting, and treating post-traumatic stress disorder (PTSD), is receiving the BioMed SA Award for Innovation in Healthcare and Bioscience. BioMed SA … Continue reading “San Antonio Military Researchers to Receive Life Science Group Award”
For Women Only: E-Retail Subscription Firm Athena Club Raises $3.8M
[Updated 7/31/18 7:46 am. The story and headline has been changed to reflect an updated amount.] Athena Club, a subscription program for feminine hygiene products, is the latest entrant into the direct-to-women e-commerce space and announced today that it has raised $3.8 million in funding. Co-founder Maria Markina says her New York-based startup gives women … Continue reading “For Women Only: E-Retail Subscription Firm Athena Club Raises $3.8M”
Sam’s Club, Sunroom, and Funds for Revtech and Kony in TX Tech News
Let’s get caught up with the latest innovation news from Xconomy Texas. —Sam’s Club, the bulk retailer owned by Walmart (NYSE: [[ticker:WMT]]), has brought on about 100 tech employees to work at a new office in Dallas, according to The Dallas Morning News. The newspaper reported that the new office is working on a new … Continue reading “Sam’s Club, Sunroom, and Funds for Revtech and Kony in TX Tech News”
10 Must-Read Stories From Xconomy (and Elsewhere) This Week
Ah, Friday: The gateway to a relaxing weekend. If you’re reading this, it’s likely you’re starting your Friday off the right way with some casual reading. Here’s a peek at some of the fine work Xconomy editors have put out in the last week—and a few from other publications, too, that are very interesting reads. … Continue reading “10 Must-Read Stories From Xconomy (and Elsewhere) This Week”
Bio Roundup: An Alzheimer’s Head-Scratcher, OUTBio, GSK & Gilead Shakeups
The devil is in the details, and key clinical trial results made that abundantly clear this week. Eisai and partner Biogen released the highly anticipated details of an Alzheimer’s disease study they had already deemed positive, after an initial failure. In one sense, the study was the success they have claimed. A high dose of … Continue reading “Bio Roundup: An Alzheimer’s Head-Scratcher, OUTBio, GSK & Gilead Shakeups “
OUTBio, a Biopharma LGBTQ Group, Grows Fast & Ponders Its Future
In June, Jennifer Petter, the founder and chief scientific officer of biotech startup Arrakis Therapeutics, got an e-mail from a stranger. His name was Ramsey Johnson, a biotech veteran who works in clinical operations at Boston startup Phoenix Tissue Repair. Johnson was writing about OUTBio, a networking organization for LGBTQ members of the biopharma community. … Continue reading “OUTBio, a Biopharma LGBTQ Group, Grows Fast & Ponders Its Future”
VelocityTX, EPIcenter Complete First San Antonio Pre-Incubator Group
San Antonio—[Corrected 7/26/18, 2:06 p.m. See below.] A “pre-incubator” program launched earlier this year by two organizations seeking to stimulate startup activity in San Antonio has graduated its first group of companies. The program aims to help the early stage businesses test out the viability of their ideas for new products and services, and determine … Continue reading “VelocityTX, EPIcenter Complete First San Antonio Pre-Incubator Group”
Austin’s ScaleFactor Gets $10M for Small Business Financial Software
Austin—ScaleFactor, a company that sells machine learning-based financial and bookkeeping software to small- and medium-sized businesses, has snagged a $10 million Series A funding in a round that was led by Canaan Partners. ScaleFactor plans to use the funding for marketing, business development, and to further develop its product. The company participated in the Austin … Continue reading “Austin’s ScaleFactor Gets $10M for Small Business Financial Software”
SnappyScreen’s Booths Protect People While They Have Fun in the Sun
Applying sunscreen while outdoors is a long-accepted way to help keep our skin safe from sunburn and cancer. Yet the Centers for Disease Control and Prevention says less than a third of women, and even fewer men, report using it when going outside for more than an hour. “You should put it on more frequently … Continue reading “SnappyScreen’s Booths Protect People While They Have Fun in the Sun”
Seattle Startups Land Cash for Machine Learning & Self-Storage Techs
New funding for startups continues to flow—this week it’s early stage Seattle tech companies that are grabbing money, including a machine learning business and a service that picks up and stores your extra junk. DefinedCrowd, which participated in the Microsoft Accelerator in 2016 before it raised a $1.1 million seed round, gathers data points from … Continue reading “Seattle Startups Land Cash for Machine Learning & Self-Storage Techs”
Announcing XCON 2018: A Conference on Technology and Transformation
This fall, we are convening exemplary business leaders, investors, and far-seeing technologists for an in-depth exploration of the innovation ecosystem and its impact on the future. Come join us at our newest interactive conference, XCON: The Xconomy Conference on Technology and Transformation. It spans three days, November 4-6, and three innovation venues in the Boston … Continue reading “Announcing XCON 2018: A Conference on Technology and Transformation”
Retailers Need to Get Real About Security
It seems a distant memory now. In December 2013 – light years ago in technology time – the retail giant Target disclosed a massive software security breach of its point of sale systems. The bad guys fled the virtual premises with the credit card information of 40 million customers. This astounding number would later rise … Continue reading “Retailers Need to Get Real About Security”
Goldman Sachs Leads $37M Investment in Cogito’s A.I. for Call Centers
Cogito, one of the startups working to enhance businesses’ call center operations with sophisticated analytics software, has scooped up $37 million from investors to try and take its business to the next level. The Series C funding round was led by Goldman Sachs’s growth equity fund, with earlier Cogito backers Salesforce Ventures and OpenView Venture … Continue reading “Goldman Sachs Leads $37M Investment in Cogito’s A.I. for Call Centers”
Futures Command, SparkCognition, Student Loan Hero, & More TX Tech
Let’s get caught up with the latest news from Xconomy Texas. —Austin will be the new home for the U.S. Army’s Futures Command, a technology-focused reorganization of the military branch’s operations. “The command is expected to assess the future operational environment, emerging threats, and new technologies in order to develop and deliver concepts, requirements, future … Continue reading “Futures Command, SparkCognition, Student Loan Hero, & More TX Tech”
Bio Roundup: Drug Prices, CRISPR Caveats, Rubius IPO Pop & More
After nearly two years of all smoke, no fire around President Trump’s promise to curtail drug prices, there’s finally some glimmer of action. Pfizer said last week it would halt its price hikes, and Novartis and Merck took similar actions this week. But we still don’t know the details of the administration’s drug-pricing policy, if … Continue reading “Bio Roundup: Drug Prices, CRISPR Caveats, Rubius IPO Pop & More”
San Antonio Sticks to Growth Playbook, Despite Turndowns by Startups
San Antonio—There’s plenty of scrutiny of whether it’s worthwhile for governments to offer incentive packages that aim to attract businesses and the jobs they bring. Still, city and state leaders across the nation continue to do it, among other efforts to bolster their business communities. Most arrangements aren’t gargantuan billion-dollar deals, like the tributes offered … Continue reading “San Antonio Sticks to Growth Playbook, Despite Turndowns by Startups”
Sputnik ATX Picks Five Startups In Second Austin Accelerator Class
Austin—Sputnik ATX, a startup accelerator that launched last year, has picked a group of five startups that will be the second class of businesses to run through the program. The early stage companies include a software-as-a-service business that connects teachers with jobs at school districts, a cosmetics maker, and other software companies (read about each … Continue reading “Sputnik ATX Picks Five Startups In Second Austin Accelerator Class”
If the Shoe Fits: Luxury Shoe Club Launches E-Consignment Store
One in five pairs of shoes sit unworn in the average woman’s closet. So, why not sell these unused, or slightly used, pairs to someone who will wear them? That’s the view of Scott Van Valkenburgh, co-founder of Luxury Shoe Club, a Raleigh, NC-based startup that caters to women who want to buy and sell … Continue reading “If the Shoe Fits: Luxury Shoe Club Launches E-Consignment Store”
E.U. Slaps $5B Antitrust Fine on Google; Trump Blasts Back With Tweet
[Updated 7/19/18, 9:59 am. See below.] If top European leaders faced a testy President Donald Trump in a series of meetings this summer, imagine the mood when the president of the European Commission arrives at the White House next Wednesday. President Trump and the European Union’s top executive officer, Jean-Claude Juncker, are slated to discuss … Continue reading “E.U. Slaps $5B Antitrust Fine on Google; Trump Blasts Back With Tweet”
Inari Agriculture Sprouts with Plans to Gene Edit “Personalized Seeds”
The seeds farmers plant in their fields can carry certain desirable traits, such as drought tolerance or pest resistance. Breeding or genetic engineering can produce such traits, but ag biotech startup Inari Agriculture aims to take trait development to a new level—customizing seeds to grow best in the soil and weather at the farm where … Continue reading “Inari Agriculture Sprouts with Plans to Gene Edit “Personalized Seeds””
Drug Developer Kiromic Declines San Antonio’s Cash Offer for HQ Move
San Antonio — [Updated 7/23/18, 6:10 p.m. See below.] The board of directors for Houston-based immunotherapy biotech Kiromic has decided against taking a $200,000 investment from San Antonio-based economic development group, which would have required the company to relocate to San Antonio. Kiromic won’t relocate it’s headquarters to San Antonio—for the time being, at least, … Continue reading “Drug Developer Kiromic Declines San Antonio’s Cash Offer for HQ Move”
Walmart, Microsoft Deepen Partnership as Both Grapple With Amazon
The enemy of my enemy is my friend—even in the retail and cloud computing businesses. So says retail giant Walmart (NYSE: [[ticker:WMT]]) as it announced this morning a five-year partnership with Microsoft (NASDAQ: [[ticker:MSFT]]) to use machine learning and other technologies, deepening an existing partnership between two of Amazon’s biggest rivals. “Whether it’s combined with our … Continue reading “Walmart, Microsoft Deepen Partnership as Both Grapple With Amazon”
New Ethics Code Urges Tech Firms and Coders To Avoid Harming Society
Selling a new Web-connected thermostat or other wired gizmo to consumers without a plan to deliver the necessary security patches is not only bad business—it’s unethical. So is failing to challenge a law or tech company rule that governs work on technology products, if that rule causes unjustifiable harms to people or the environment. Those … Continue reading “New Ethics Code Urges Tech Firms and Coders To Avoid Harming Society”
Pliant Picks Up $62M to Test Lung, Liver Fibrosis Drug in the Clinic
The cause of fibrosis, the hardening and thickening of connective tissue in organs, isn’t known and it has few treatments. Pliant Therapeutics aims to bring patients who have this chronic and life-threatening condition in the lungs or the liver a new treatment option—and it now has $62 million to test its lead drug in humans. … Continue reading “Pliant Picks Up $62M to Test Lung, Liver Fibrosis Drug in the Clinic”
Bio Roundup: Pfizer’s Prices, Novartis Cuts, Gene Therapy Guide & More
Drug price changes typically happen either at the start of the calendar year or the beginning of the third quarter. Such changes are routine for many companies, but Pfizer took an unusual step this week by rolling back scheduled price increases on 40 of its drugs. The change of plan happened after Pfizer (NYSE: [[ticker:PFE]]) … Continue reading “Bio Roundup: Pfizer’s Prices, Novartis Cuts, Gene Therapy Guide & More”
Indy’s PactSafe Snags $5.5M Series A to Expand Contracting Software
PactSafe, an Indianapolis startup focused on cloud-based contracting services, announced this week that it has raised a $5.5 million Series A investment round. The round was co-led by Houston, TX-based Mercury Fund and Salt Lake City’s Signal Peak Ventures, and included contributions from Indiana’s Elevate Ventures and Singapore’s Vulpes Testudo. PactSafe, founded in 2015, sells … Continue reading “Indy’s PactSafe Snags $5.5M Series A to Expand Contracting Software”
E-Retail Startup Pointy Raises $12M, Helps Small Shops Be Found Online
Mark Cummins wondered why online search engines could help you locate a landmark halfway around the world in a second but couldn’t tell him whether the corner store had a craft beer he liked. That’s what led him to co-found Pointy, which makes a hardware device that enables small retailers to easily upload inventory onto … Continue reading “E-Retail Startup Pointy Raises $12M, Helps Small Shops Be Found Online”
Hype―and Skepticism―Remains for Dell’s Return to the Public Market
Austin—The possibility that Dell might return to the public markets has been talked about for months, if not longer. It became more realistic in February, when the Round Rock, TX-based company told securities regulators it was considering a public offering or a reverse merger with VMware, the publicly traded company of which Dell owns 81 … Continue reading “Hype―and Skepticism―Remains for Dell’s Return to the Public Market”
Gregor Diagnostics Raises $900K to Develop New Prostate Cancer Test
Gregor Diagnostics has raised $900,000 from investors as part of a seed funding round that the Madison, WI-based startup says will support its efforts to develop a new, at-home screening test for prostate cancer that it hopes will offer a more precise alternative to the current testing standard for the disease. San Francisco-based First Round … Continue reading “Gregor Diagnostics Raises $900K to Develop New Prostate Cancer Test”
Echoing National Trend, TX Startups See More VC Dollars, Fewer Deals
San Antonio — More dollars, fewer deals. That’s been the trend in Texas, as well as for the nation as a whole. Venture capital firms have invested money in companies across the U.S. during 2018 at a level that is on pace to break the record-breaking total invested last year (the most since the dot-com era, … Continue reading “Echoing National Trend, TX Startups See More VC Dollars, Fewer Deals”
Venture Funding Keeps Momentum Amid IPO Wave; Plus Q2’s Top 10 Deals
[Updated 7/12/18, 9:24 am. See below.] Last year, U.S. venture capital investments swelled to a level not seen since the dot-com era of the early 2000s. This year could be even bigger. Investors funneled $57.5 billion into U.S. companies through the first six months of 2018, according to the latest Venture Monitor report produced quarterly … Continue reading “Venture Funding Keeps Momentum Amid IPO Wave; Plus Q2’s Top 10 Deals”
Bio Roundup: Dunsire’s Danish, Price Hikes, Rare-Disease Race & More
[Corrected, 7/6/18, 1:26 pm. See below.] Xconomy was dumbstruck this week, and not by the fireworks overhead. Our friend and one of our earliest employees, San Diego editor Bruce Bigelow, died suddenly last weekend. Bruce covered everything—and everyone—in San Diego’s innovation scene, including the life sciences. Some of our favorite stories of his sprang from … Continue reading “Bio Roundup: Dunsire’s Danish, Price Hikes, Rare-Disease Race & More”
The Empathy Economy: Emotional Intelligence in Customer Service
The “empathy economy” will help define the new reality of human and machine interactions in the customer service industry. A takeoff on the sharing economy, the empathy economy will grow due to brand mania and increased automation in the workplace. Consumers are inundated by brands in their day-to-day lives, and these brands sometimes create personal … Continue reading “The Empathy Economy: Emotional Intelligence in Customer Service”
Are You a SaaS Startup? Private Equity May Soon Be Coming For You
[Updated 3:16 p.m. See below.] More money than ever is flowing into software companies that offer anything from niche applications to more general cloud storage services, customer relationship tools, and more. So far this year, the amount of venture capital funding invested in these software-as-a-service (SaaS) businesses tops $12 billion, according to data compiled by … Continue reading “Are You a SaaS Startup? Private Equity May Soon Be Coming For You”
Automation Anywhere Scores $250M to Globalize Bot Workforce
Automation Anywhere, which supplies customers with armies of software robots to take over manual tasks such as insurance claims processing, announced today it raised $250 million in a first funding round that set its post-money valuation at $1.8 billion. The San Jose, CA-based company, begun in 2003 by four co-founders who bootstrapped its funding, has … Continue reading “Automation Anywhere Scores $250M to Globalize Bot Workforce”
In Celebration of Bruce Bigelow: Our Memories, His Playlist
[Updated, 7/5/18. See below] Bruce Victor Bigelow, editor of Xconomy San Diego, passed away Friday afternoon, June 29, at the age of 63. He had suddenly fallen ill less than a week earlier, after he returned to San Diego from a hiking trip in Utah. Our initial post about Bruce’s death is here. And the … Continue reading “In Celebration of Bruce Bigelow: Our Memories, His Playlist”
Xconomy Mourns the Loss of San Diego Editor Bruce Bigelow
[Updated, 7/5/18. See below] It is with profound sadness that we at Xconomy say goodbye to our longtime friend and editor of Xconomy San Diego, Bruce Bigelow. An outstanding journalist, colleague, and friend, and a fixture of the San Diego innovation scene, Bruce passed away today at age 63 after a brief illness. We are … Continue reading “Xconomy Mourns the Loss of San Diego Editor Bruce Bigelow”