Welcome to conference week. That’s not an official moniker, but is there any busier time on the biopharma calendar? As the American Society of Clinical Oncology meeting wrapped up in Chicago, the annual BIO conference kicked off in Philadelphia, and a deep dive into diabetes begins today in San Francisco. With half the biopharma world, … Continue reading “Bio Roundup: ASCO Wrap, Bluebird’s EU Tap, CRISPR Baby Risk & More”
Category: Texas
ASCO 2019: The Long Game, Targeted Pills, First-Ever Buzz & More
The American Society of Clinical Oncology meeting in Chicago has wrapped up for another year. Last week, we featured two stories that you wouldn’t find at the ASCO frenzy: Immunotherapy’s lack of progress in treating breast cancer, and one woman’s risky bet of tens of millions of dollars from her personal fortune to speed drug … Continue reading “ASCO 2019: The Long Game, Targeted Pills, First-Ever Buzz & More”
Apple Touts New Privacy Moves as Antitrust Probes Loom for Big Tech
Both the House leadership and the Trump administration are preparing to challenge the power of Google, Facebook, and other big tech companies by launching antitrust investigations into their allegedly anticompetitive business practices, as the Washington Post detailed it this week. But the growing concern about the pervasive control of tech giants in arenas such as … Continue reading “Apple Touts New Privacy Moves as Antitrust Probes Loom for Big Tech”
NASA, Liongard, Springdale, TFF, HX, Women@Austin & More TX Tech
[Updated 6/07/19, 1:00 pm ET. See below.] Let’s catch up with the latest innovation news in Texas. —NASA has selected a Houston space tech company as one of three firms with a contract to design, build, and send spacecraft to the moon with experiments and other packages, according to a press release. Intuitive Machines makes the … Continue reading “NASA, Liongard, Springdale, TFF, HX, Women@Austin & More TX Tech”
Study: Gene Edits in CRISPR Babies Could Boost Risk of Earlier Death
The Chinese scientist He Jiankui, who revealed last fall that he used CRISPR gene editing to try to make twin newborn girls immune to HIV infection, might have also given them a higher risk of death. That’s according to a new study from University of California, Berkeley data scientists who analyzed the records of more … Continue reading “Study: Gene Edits in CRISPR Babies Could Boost Risk of Earlier Death”
From Farm to (Financial) Table: Holt Ventures Partner Meg Paulus
San Antonio—Meg Paulus gets a sense of comfort when she walks around the campus of her work at Holt Cat, a San Antonio-based heavy equipment and engine dealer focused on Caterpillar tractors. Paulus grew up in rural southeast Wisconsin where she raised sheep and chickens and showed them off at annual 4-H fairs. Those memories … Continue reading “From Farm to (Financial) Table: Holt Ventures Partner Meg Paulus”
Bio Roundup: Opioids in Court, IPO Parade, Brain Cancer Bet & More
[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”
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”
Sante, GST, BackTracks, 101 Commerce, Plug and Play, & More TX Tech
Let’s get caught up with the latest innovation news from Xconomy Texas. —Healthcare venture firm Sante Ventures has closed a $250 million fund, its third. Sante’s Fund III has commitments from 32 investors, which includes half of previous investors joining in the new fund, according to Kevin Lalande, Sante’s co-founder and managing director. The Austin-based … Continue reading “Sante, GST, BackTracks, 101 Commerce, Plug and Play, & More TX Tech”
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?”
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?”
Upland Software Acquires Marketing Software Business Kapost for $45M
Austin—Upland Software is paying $45 million to acquire Kapost, a Boulder, CO-based company with software for managing marketing content. Upland (NASDAQ: [[ticker:UPLD]]) sells business applications, including some for communicating with customers, managing sales, and automating financial and professional services. Kapost was founded in 2009 and sells software for planning, production, and distribution of marketing and … Continue reading “Upland Software Acquires Marketing Software Business Kapost for $45M”
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”
Scaleworks Acquires SearchSpring for First Deal From Second Fund
San Antonio—Scaleworks is acquiring SearchSpring, a Denver, CO-based business that makes search and navigation systems for online stores and ecommerce businesses. The acquisition is the first for Scaleworks’ $80 million second fund, which the San Antonio investment firm announced it had raised in February. Founded in 2016, Scaleworks branded its investment style as a mix … Continue reading “Scaleworks Acquires SearchSpring for First Deal From Second Fund”
Smart Cities Startups, Upswing, Coder, VanillaSoft & More TX Tech
Let’s catch up with the latest innovation news in Texas. —The Dallas-based Innov8te Smart Cities Incubator has named the six startups in its first program, according to a press release. The startups are using technology to help local governments sync data in currently siloed departments, analytics to help cities measure business and individual tourism, and … Continue reading “Smart Cities Startups, Upswing, Coder, VanillaSoft & More TX Tech”
With $120M, AlloVir Faces Big Test of Cell Therapy to Fight Infection
In healthy people, viruses are kept in check by the immune system. But for immunocompromised patients, such as those undergoing transplant procedures, a viral infection is potentially deadly. AlloVir is developing a cell therapy intended to control infections while a patient’s immune system recovers. Houston-based AlloVir is preparing its lead candidate for late-stage testing and … Continue reading “With $120M, AlloVir Faces Big Test of Cell Therapy to Fight Infection”
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”
Merck Preempts Peloton Therapeutics IPO With $1B Acquisition Deal
Merck has reached a deal to acquire Peloton Therapeutics, and its Phase 3-ready kidney cancer drug, for $1.05 billion. Under the agreement announced Tuesday, Merck (NYSE: [[ticker:MRK]]) will pay the sum in cash up front. If Peloton’s drug candidates reach the market and hit sales targets, shareholders of privately held Pelton could gain up to … Continue reading “Merck Preempts Peloton Therapeutics IPO With $1B Acquisition Deal”
ACC’s New Fashion Incubator Follows Growth of Industry in Austin
Austin— Though small, Austin’s fashion-technology community is growing. Not only have more businesses started moving to the city, now a new program at Austin Community College is hoping to further drive innovation in the industry. “We are looking to create a full pipeline (of resources) for promising designers,” says Nina Means, director of the newly … Continue reading “ACC’s New Fashion Incubator Follows Growth of Industry in Austin”
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”
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”
Whiskey Coffee, Immigration, AI: MassChallenge’s New Austin Cohort
Austin—MassChallenge has picked the 74 early-stage companies that will eventually compete for a portion of $500,000 in cash as a part of its Austin accelerator program. They’re startups that are developing products in a wide range of sectors, including life sciences, agriculture, and artificial intelligence. A majority of the startups are from Texas, although some … Continue reading “Whiskey Coffee, Immigration, AI: MassChallenge’s New Austin Cohort”
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”
Seattle Algorithm Marketplace and Manager, Algorithmia, Snags $25M
Algorithmia was founded on the idea that lots of people who write algorithms, from academics to private sector employees, have good products but no way to commercialize them. It launched in 2014 as a marketplace for people who want to buy or sell algorithms, and raised a $2.4 million seed funding round. Today, there’s more … Continue reading “Seattle Algorithm Marketplace and Manager, Algorithmia, Snags $25M”
MassChallenge, Funds for Innowatts, Liveoak, Data Gumbo & More TX Tech
Let’s catch up with the latest innovation news in Texas. —Innowatts, an AI-focused energy tech company in Houston, has closed an $18.2 million Series B funding round, according to a press release. The investment was led by Energy Impact Partners and included existing investors Shell Ventures, Iberdola, and Energy and Environment Fund (EEI Japan), as … Continue reading “MassChallenge, Funds for Innowatts, Liveoak, Data Gumbo & More TX Tech”
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”
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”
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”
MedCognition Making Augmented Reality Emergency Training for US Army
San Antonio—MedCognition, a startup that uses an augmented reality system to train emergency medical technicians and other first responders on how to treat injuries, has earned a $750,000 grant from the US Army to collaborate with another organization on developing a version of its system for military use. MedCognition plans to spend the next 12 … Continue reading “MedCognition Making Augmented Reality Emergency Training for US Army”
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”
Funds for Indio, A Cloud Guru & Kerv, TMC3 Update & More TX Tech
—Indio Technologies, an insurance tech startup, has raised $20 million in funding, and plans to spend half of that amount to boost its Austin office, the company said. The Series B investment round was led by Menlo Ventures with participation from 8VC. San Francisco-based Indio, which makes software that insurance companies can white-label to digitize … Continue reading “Funds for Indio, A Cloud Guru & Kerv, TMC3 Update & More TX Tech”
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”
Acelity Sells to 3M in Deal Valued at $6.7 Billion, Ending IPO Plan
San Antonio — Acelity is being acquired by 3M, the maker of products like Post-it and Ace bandages, in a $6.7 billion deal just two weeks after an affiliate of Acelity had filed paperwork for an initial public offering. The up-front cost to 3M will be about $4.3 billion because 3M (NYSE: MMM) will assume … Continue reading “Acelity Sells to 3M in Deal Valued at $6.7 Billion, Ending IPO Plan”
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?”
Sight Machine Raises $29M to Connect Dots of Manufacturing Enterprises
When it comes to manufacturing, production and quality is everything. Systems to monitor manufacturing have been around for decades, but they aren’t always complete, sometimes only overseeing specific machines or locations. That’s a problem that Sight Machine aims to address with its software that analyzes the manufacturing process. Its technology uses artificial intelligence, machine learning, … Continue reading “Sight Machine Raises $29M to Connect Dots of Manufacturing Enterprises”
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”
Emtora Biosciences Turns Sights on Rare Genetic Disease, New Funding
San Antonio—Emtora Biosciences, a San Antonio biotech startup formerly known as Rapamycin Holdings, is planning to test its drug, eRapa, as a treatment for a rare genetic disease known as Familial Adenomatous Polyposis (FAP). Emtora plans to begin a Phase 2a trial in late 2019 for the condition, which affects 60,000 people in the United … Continue reading “Emtora Biosciences Turns Sights on Rare Genetic Disease, New Funding”
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”
Cliently Moves to San Antonio With $1M Round Led by Active Capital
San Antonio—Automated sales software maker Cliently is moving to San Antonio from South Carolina after receiving a $1 million seed funding round led by San Antonio investment firm Active Capital. Cliently sells software to small- and medium-sized businesses that helps them interact with prospective and current clients throughout the sales process. The software can hook … Continue reading “Cliently Moves to San Antonio With $1M Round Led by Active Capital”
Exosomes Head to Wall Street As Codiak Biosciences Lines Up IPO
Do Wall Street investors believe that exosomes, the tiny bubbles once thought to be just cellular garbage bins, may be the key to treating a slew of potential diseases? The coming IPO for Codiak Biosciences will present a test case. Codiak, a Cambridge, MA, company run by former Biogen (NASDAQ: [[ticker:BIIB]]) research chief Doug Williams, … Continue reading “Exosomes Head to Wall Street As Codiak Biosciences Lines Up IPO”
Another $568M, and a $7B Valuation, for Automation Firm UiPath
UiPath, which helps businesses automate tedious digital processes such as billing and inventory control, announced today it raised $568 million from investors who agreed on a $7 billion valuation for the company. New York-based UiPath is one of the automation software companies that have been raking in capital recently as they compete for enterprise customers … Continue reading “Another $568M, and a $7B Valuation, for Automation Firm UiPath”
Peloton Therapeutics Plans IPO for Kidney Cancer Drug Clinical Trials
Dallas—Peloton Therapeutics, developer of small molecule drugs to treat kidney cancer and other diseases, has filed for an initial public offering to fund late-stage clinical trials. The Dallas-based biotech, founded in 2010, plans to raise up to $115 million from the IPO, according to its filing with the US Securities and Exchange Commission. Peloton has … Continue reading “Peloton Therapeutics Plans IPO for Kidney Cancer Drug Clinical Trials”