Cancer immunotherapy is, in a word, tantalizing. It might save the life of someone at death’s door and keep the cancer at bay for years. Or it might not work at all. There’s no telling what a patient will experience. “There’s a real poverty of understanding of how the machine that is us works,” says … Continue reading “Merck And The Future of Immuno-Oncology: A Chat With Roger Perlmutter”
Category: Texas
A VC’s Take: Global Volatility Hurts U.S. Venture Ecosystem
As Xconomy’s editors looked back at the year just passed, we asked technology leaders to comment on the trends they’d observed in 2018, and the developments they expected in 2019. Some leaders responded with their views on the business impact of the Trump era, pointing to specific policy positions such as tax code revisions, curbs … Continue reading “A VC’s Take: Global Volatility Hurts U.S. Venture Ecosystem”
Austin’s Localeur, Millennial-Focused Travel Startup, Hits 100 Cities
Austin—Localeur, a travel recommendation startup, is celebrating its (nearly) fifth anniversary by announcing its 100th city. The Austin startup focuses on recruiting a group of local residents who can provide insider information on each travel destination. The “localeurs”—a portmanteau of local and connoisseur—are millennials catering to the tastes of their own. Localeur made its debut … Continue reading “Austin’s Localeur, Millennial-Focused Travel Startup, Hits 100 Cities”
Pensa, AI-Enabled Drones Maker for Inventory Monitoring, Raises $5M
[Updated, 1/18/19, 1:10 pm CT] Austin—The grocery store shelf has yet to be plugged into the increasingly digital food supply chain. Instead, inventory is typically tallied by employees by hand in a slow and laborious process. “It’s one big black hole with groceries, not knowing what is exactly on the retail shelf and available for … Continue reading “Pensa, AI-Enabled Drones Maker for Inventory Monitoring, Raises $5M”
E-Commerce Startups, Legacy Stores Grapple With Changing Retail Scene
The changing of the guard transforming retail is accelerating. Sears, the nation’s first “everything store,” is teetering toward bankruptcy after years of stagnation as industry leaders prepare to gather in New York at the National Retail Federation’s annual conference. Yet, new startups—aided with tech tools like artificial intelligence, chatbots, and the like—are trying to reinvent … Continue reading “E-Commerce Startups, Legacy Stores Grapple With Changing Retail Scene”
Tech Companies Share Shutdown Losses, With Little Chance of Back Pay
As federal agency employees miss their first paychecks today due to the partial government shutdown that began Dec. 22, federal contractors and their workers—including technology professionals—face a loss of income that they may never recover. Big technology companies such as Oracle (NYSE: [[ticker:ORCL]]), Microsoft (NASDAQ: [[ticker:MSFT]]), and Amazon (NASDAQ: [[ticker:AMZN]]), as well as smaller tech … Continue reading “Tech Companies Share Shutdown Losses, With Little Chance of Back Pay”
Bio Roundup: #JPM19 Notes, Loxo Buyout, Black Diamond’s Cash & More
Diabetes drugs are Eli Lilly’s bread and butter, but the pharmaceutical giant hasn’t lost its appetite for cancer drugs. It grabbed hold of a few more this week by betting $8 billion on Loxo Oncology. Loxo (NASDAQ: [[ticker:LOXO]]) has made a name for itself by becoming one of just two companies ever to earn an … Continue reading “Bio Roundup: #JPM19 Notes, Loxo Buyout, Black Diamond’s Cash & More”
Notes from the JPM19 Vortex: Price Apocalypse, Celgene Fallout & More
[Editor’s note: Ben Fidler and Sarah de Crescenzo coauthored this report.] It is here, and then it is gone. But by the time everyone staggers to the airport or back home to sleep in their own beds, the annual few days of the J.P. Morgan Healthcare Conference and everything that mushrooms around it seem just … Continue reading “Notes from the JPM19 Vortex: Price Apocalypse, Celgene Fallout & More”
To Buy or Not to Buy: FunnelAI Studies Consumers’ Intent to Purchase
San Antonio—Sridhar Kamma is the kind of car enthusiast who would meet up with other devotees a couple times a month to talk about the merits of a BMW M3 versus a Porsche Boxster, a Mustang versus a Camaro. He’s the type to post questions in online forums and blogs about where he could find … Continue reading “To Buy or Not to Buy: FunnelAI Studies Consumers’ Intent to Purchase”
Online Tech Expands Cloud, Data Services with Neverfail Acquisition
Online Tech, the Ann Arbor, MI-based provider of cloud services, beefed up its capabilities last month when it acquired the infrastructure-as-a-service and data protection businesses of Neverfail, an IT company located in Austin, TX. The terms of the deal were not disclosed. Online Tech CEO Brad Cheedle says his company offers managed services around cloud … Continue reading “Online Tech Expands Cloud, Data Services with Neverfail Acquisition”
Uncertainty Grows for Biotech as Government, FDA Shutdown Drags On
The partial government shutdown could soon become the longest shutdown in history, and biotech firms that have submitted regulatory filings are facing greater uncertainty about their future plans. More than 40 percent of FDA workers and thousands at the SEC are furloughed, and FDA Commissioner Scott Gottlieb is resorting to Twitter to post updates about … Continue reading “Uncertainty Grows for Biotech as Government, FDA Shutdown Drags On”
Victory Capital Acquires USAA Investment Arm, Moves to San Antonio
San Antonio—An Ohio investment firm that recently announced it would acquire an investment management arm of San Antonio-based USAA is now planning to move its headquarters to the Alamo City. Victory Capital Management (NASDAQ: [[ticker:VCTR]]) said Thursday it plans to open its San Antonio headquarters in mid-2019. The company is currently located in Brooklyn, OH, … Continue reading “Victory Capital Acquires USAA Investment Arm, Moves to San Antonio”
FAANG, Public Trust, Valuations, in 2019: The Read from Menlo Ventures
The market caps of some of the most successful tech titans reach as high as $1 trillion. Yet in 2018, perceptions about these dominant companies often reflected uneasiness and doubt—and for some, so did their stock performance. Maybe the mood shift has to do with the fact that the public and government leaders no longer … Continue reading “FAANG, Public Trust, Valuations, in 2019: The Read from Menlo Ventures”
Apollo 8: Holding the Mirror Up to Our Planet—Milestones of Innovation 16
The fiftieth anniversary of Apollo 8’s orbital visit to the moon underlines the importance of emotion and changes of perception in the history of innovation. Then and later, commentators said that the technological marvel reversed some of the gloom from the assassinations of Martin Luther King and Robert Kennedy, the Chicago police beating of dissidents … Continue reading “Apollo 8: Holding the Mirror Up to Our Planet—Milestones of Innovation 16”
Big Deals, Life Sciences Push U.S. VC in 2018 to Dot-Com Boom Levels
[Updated 1/18/19, 3:27 pm. See below.] Venture capital investments rose in 2018 to levels not seen since the heady days of 2000, the last year U.S. startups collectively took in more than $100 billion. That’s according to PitchBook and the National Venture Capital Association’s Venture Monitor report, released this week, which tallied nearly 9,000 deals … Continue reading “Big Deals, Life Sciences Push U.S. VC in 2018 to Dot-Com Boom Levels”
The Power Combo of A.I. Devices with Cloudlets Comes with Cyber Risks
When we have a chance to view it from a distance, the year 2018 may be seen as a period when innovations in a number of technological fields came together to transform not only the future of computing, but also the very structure of the Internet. First, entrepreneurs vying to invent self-driving vehicles, virtual assistants, … Continue reading “The Power Combo of A.I. Devices with Cloudlets Comes with Cyber Risks”
Motorola Solutions Pays $445M for VaaS, Which Tracks Car Locations
Fort Worth—Motorola Solutions (NYSE: [[ticker:MSI]]) is acquiring a Texas company that sells law enforcement offices and private businesses data it collects about license plates—which can reveal where a car is at a certain time, say—for $445 million in cash and equity. Through two subsidiaries, Fort Worth, TX-based VaaS International Holdings sells data and image analytics … Continue reading “Motorola Solutions Pays $445M for VaaS, Which Tracks Car Locations”
Microsoft, Kroger Advance Grocery Tech to Fend Off Amazon
From the cloud on down to the floors of supermarkets, the rivalry between Microsoft and Amazon spans many sectors in software, gadgets, and increasingly, retail. The Seattle-area tech giants are battling—both with one another, and other competitors—to further digitize grocery shopping. The latest salvo came on Monday from Microsoft (NASDAQ: [[ticker:MSFT]]), which announced new details … Continue reading “Microsoft, Kroger Advance Grocery Tech to Fend Off Amazon”
Bio-JPM Roundup: Lilly Buys Loxo, Sage’s Stock Soars, ALS Cash & More
The flow of biotech news is particularly heavy today, and for good reason. The annual J.P. Morgan Healthcare Conference, one of the biggest gatherings for the biopharmaceutical industry, kicked off today in San Francisco, and many companies, whether they’re speaking at the event or not, use this time to get their news out. Xconomy is … Continue reading “Bio-JPM Roundup: Lilly Buys Loxo, Sage’s Stock Soars, ALS Cash & More”
Tech Leaders Weigh In on Tim Berners-Lee’s “Contract for the Web”
Looking back over the past two years, it seems that public perceptions of tech companies have shifted, compared with the eager acceptance that often prevailed as innovations from these businesses transformed social interactions, transportation, and other aspects of life. In early 2017, a more critical mood began to take hold as Uber’s allegedly biased employment … Continue reading “Tech Leaders Weigh In on Tim Berners-Lee’s “Contract for the Web””
Vade Nutrition Swims Out of MSU and Into “Shark Tank,” Scores $700K
While attending Michigan State University in the mid-2010s, Joe Johnson earned a degree in finance, served as the captain of the school’s wrestling team, and met and married his wife Megan. In between, he found time to dream of starting his own company, but he never imagined he would one day count retired professional baseball … Continue reading “Vade Nutrition Swims Out of MSU and Into “Shark Tank,” Scores $700K”
Bio Roundup: $74B for Celgene, Two CAR-T Tales, Ready for SF & More
In 2018, my Exome colleagues and I published hundreds of stories about health, medicine, the biopharma industry, government policy, and more. You’ll find a few of our favorite stories in this review of some of the year’s best from across the Xconomy network. Topics ranged from the worries over CRISPR genome editing and Wild West … Continue reading “Bio Roundup: $74B for Celgene, Two CAR-T Tales, Ready for SF & More”
From Immigration to Taxes, Execs Talk Trump Effect on Innovation
When it comes to developing and promoting innovation, external factors beyond the control of company founders, investors, and other business leaders can also determine whether a startup succeeds or fails. In 2018, geopolitical events—in particular, President Donald Trump’s hard-line stances on trade and immigration, and the repeal of net neutrality rules—were top of mind for … Continue reading “From Immigration to Taxes, Execs Talk Trump Effect on Innovation”
Forge Therapeutics Gets up to $11.1M to Advance “Superbug” Drugs
[Updated 1/4/19, 9:10 p.m. PT. See below.] As strains of bacteria evolve to fight back against common antibiotics, a slew of biotechnology companies are working to develop ways to combat these “superbugs.” San Diego’s Forge Therapeutics is among those targeting gram-negative bacteria, a type of bacteria that has a protective outer membrane that makes it … Continue reading “Forge Therapeutics Gets up to $11.1M to Advance “Superbug” Drugs”
For CAR-T Cancer Fighters in the Real World, Two Roads Diverge
[Corrected, 1/4/19, 3:55pm ET. See below.] A generation ago, cancer treatments made from a patient’s own living immune cells would have been science fiction. Now they’re here. The first two products, approved in 2017 and known in shorthand as CAR-T, have brought some people with otherwise untreatable blood cancers back from the brink of death. … Continue reading “For CAR-T Cancer Fighters in the Real World, Two Roads Diverge”
How a San Antonio Physician Went From a Spy Plane to Olifant Medical
San Antonio — Entrepreneurship wasn’t something that Steven Venticinque expected to pursue in his life. Like many tinkerers and inventors, Venticinque took to entrepreneurship in order to fix a problem. Intubation—the process of quickly inserting a breathing tube into someone, such as an emergency room patient who needs help breathing—isn’t as easy as you might think. … Continue reading “How a San Antonio Physician Went From a Spy Plane to Olifant Medical”
Get Off the Bus: Austin’s Hitch Offers Car Rides to Houston and Back
Austin—In just a handful of years, people with smartphones have flocked in droves to ride-hailing services like Uber and Lyft to get around town. Now, an Austin, TX-based startup wants to help travelers take trips out of town. Hitch, which launched its service last month, has adopted the popular ride-sharing model for trips between Houston … Continue reading “Get Off the Bus: Austin’s Hitch Offers Car Rides to Houston and Back”
Copps: Key Ingredient As A.I. Permeates Daily Life is Building Trust
The promise, and pitfalls, of artificial intelligence became more apparent in the last year, and for Dave Copps, founder of A.I. companies such as Brainspace and Hypergiant Sensory Sciences, the pace of adoption will only accelerate in 2019. What can help to smooth the transition to our new machine learning-enabled future is an effort on … Continue reading “Copps: Key Ingredient As A.I. Permeates Daily Life is Building Trust”
Three Ways 5G Is More Than Just Fast Video Streaming
In 2019, we will finally see commercial deployment of the much-anticipated 5G (fifth-generation) wireless network. 5G brings us closer to the possibility and promise of ubiquitous, un-tethered connection between every device and every entity. The projected exponential increase in bandwidth, low latency, ultra-reliable connections, and highly configurable network solutions enabled by 5G will go beyond … Continue reading “Three Ways 5G Is More Than Just Fast Video Streaming”
New Year to Bring New Data Security Threats, Cyber Investor Warns
Bob Ackerman is one of the venture capitalists whose funding has long fed the growth of the burgeoning cybersecurity industry. So, you might imagine that his outlook on data protection for 2019 would be more optimistic than in past years, because businesses now take advantage of a broad choice of security services to protect themselves. … Continue reading “New Year to Bring New Data Security Threats, Cyber Investor Warns”
NY’s Research Institutions Must Keep Working Together in ‘19
[Corrected, 1/7/19, 5:15 pm. See below.] [Editor’s Note: Euan Robertson, the Director of Strategic Planning & Special Projects at Columbia Technology Ventures, co-wrote this article.] It is a commonly held belief that academic research institutions, including those in New York City, are fierce competitors. In some ways, that may be true: Universities battle with each … Continue reading “NY’s Research Institutions Must Keep Working Together in ‘19”
In 2019, the Dam Will Break: Student Debt Predictions and Solutions
With the density of colleges and universities in the Boston area, we don’t often recognize how inaccessible higher education has become for the majority of the country. In fact, seven out of 10 college graduates today have outstanding student loans. And while many of us believe that education is a “must-have,” it’s alarming how structurally … Continue reading “In 2019, the Dam Will Break: Student Debt Predictions and Solutions”
From Alnylam to Zayner: Xconomy’s Top Innovation Stories of 2018
2018 was a year of ups and downs for the business and technology community. It was a year of big exits—both IPOs and acquisitions—for tech and life sciences companies. Venture funding remained strong, but more money went to fewer (and later-stage) companies overall. As the year winds down, we’re reflecting on the big innovation trends … Continue reading “From Alnylam to Zayner: Xconomy’s Top Innovation Stories of 2018”
Saxena: More Than a Tool, A.I. Must Be Used With Society in Mind
[Updated 12/27/18, 9:54 am] Manoj Saxena is bullish on artificial intelligence. As chairman of Austin, TX-based A.I. startup CognitiveScale and managing director of The Entrepreneur Fund, which makes investments in early-stage machine learning companies, Saxena believes A.I. can transform how we work and play—creating opportunities for business. But he’s also aware that the technology, if … Continue reading “Saxena: More Than a Tool, A.I. Must Be Used With Society in Mind”
CFOs: Prepare To Become Your Company’s Data Czar This Year
In mid-2018, Tom Bogan was the leader of business planning software company Adaptive Insights as it planned its own next steps. The Palo Alto, CA-based company was on the point of raising about $115 million in a June IPO that would have set its market value at around $705 million, according to PitchBook. But like … Continue reading “CFOs: Prepare To Become Your Company’s Data Czar This Year”
Boston A.I. Leaders Call for Focus on Diversity, Global Mindset in 2019
It was an eventful year for the artificial intelligence industry. The sector saw more big venture capital deals and acquisitions, while researchers kept plugging away on technology advances. Meanwhile, A.I. developers continued to grapple with issues around transparency, trust, and ethics. As part of Xconomy’s series of year-end posts, we asked a pair of CEOs … Continue reading “Boston A.I. Leaders Call for Focus on Diversity, Global Mindset in 2019”
VCs May Face Backlash if Profits Come at Expense of Responsibility
Venture capital is, by nature, an optimistic industry, and venture capitalists have historically gone about their work comfortable that they were making positive societal contributions. When looking at VC activity over the past half century, one can see venture capital’s role in championing endeavors that advanced knowledge, improved health, increased worker productivity, and preserved natural … Continue reading “VCs May Face Backlash if Profits Come at Expense of Responsibility”
Texas Startups Use AI, Fintech to Help Customers Find, Pay Workers
The American workforce has moved significantly beyond what Dolly Parton was familiar with. Instead of a set 40-hour, “9 to 5” work week, we have flextime, gig work, and digital nomads. Technology has allowed us to work at all hours and days—and maybe has us working too much. But even with those changes, many aspects … Continue reading “Texas Startups Use AI, Fintech to Help Customers Find, Pay Workers”
Bio Roundup: 2019 Trials, Pilgrim Price Chat, Pre-Xmas Sales & More
It’s beginning to look a lot like, well, the last roundup of the year, with plenty of news to pack in before our holiday breather. Whew. Before you fly off, or drive, or simply unplug, check out our preview of what could be next year’s top clinical studies; the tumult in big pharma’s on again-off … Continue reading “Bio Roundup: 2019 Trials, Pilgrim Price Chat, Pre-Xmas Sales & More”
Capital Factory in Houston, Austin Startup Funding, & More TX Tech
Let’s catch up with the latest innovation news in Texas. —Austin’s Capital Factory has announced a new partnership with The Cannon in Houston, one that will offer companies with space at Capital Factory reciprocal membership at the Houston coworking space, which opened last year. The Cannon also started Cannon Ventures to bring together angel investors interested … Continue reading “Capital Factory in Houston, Austin Startup Funding, & More TX Tech”
RiverVest Venture Closes $184M Fund for Backing Healthcare Ventures
RiverVest Venture Partners, a St. Louis, MO-based venture capital firm with additional offices in San Diego, CA, and Cleveland, OH, has raised $184.4 million for its fourth fund dedicated to investing in healthcare companies. Since its launch, RiverVest has invested in 47 companies working to develop new drugs and medical devices. Nearly half of the … Continue reading “RiverVest Venture Closes $184M Fund for Backing Healthcare Ventures”
Pfizer, GSK to Merge Consumer Health Units, Focus on Prescription Drugs
Two of the world’s top drugmakers want to focus on making prescription drugs. Pfizer and GlaxoSmithKline have agreed to merge their consumer health businesses and spin them off into a joint venture, a move that will both create a new consumer healthcare giant and increase the pressure on each company to churn out innovative medicines. … Continue reading “Pfizer, GSK to Merge Consumer Health Units, Focus on Prescription Drugs”
Graphcore Scores $200M to Scale Up A.I. Chip Production
One of the leading contenders in the A.I. chip race, Graphcore, announced Tuesday it pulled down $200 million in a Series D fundraising round that set its valuation at $1.7 billion. The Bristol, U.K.-based startup, founded in 2016, has now secured a total of more than $300 million in financing from venture capital firms and … Continue reading “Graphcore Scores $200M to Scale Up A.I. Chip Production”
Waldo Adds $4 Million for Software That Finds Your Face in the Crowd
Austin—Waldo Photos, a startup with facial recognition software that helps its users find photos of themselves and family members, has raised $4 million in a new round of financing led by Lewis & Clark Ventures. Waldo plans to use the money to add to its engineering team and sales force, as the startup is expanding … Continue reading “Waldo Adds $4 Million for Software That Finds Your Face in the Crowd”
San Antonio Develops “Action Plan” to Draw Life Sciences Businesses
San Antonio — San Antonio has a new “action plan” for bringing more life sciences businesses and professionals to the city, as well as for retaining those it already has. Economic development groups and city officials have been developing a strategy for boosting the healthcare industry in town for more than a year. BioMed SA, … Continue reading “San Antonio Develops “Action Plan” to Draw Life Sciences Businesses”
15 For ’19: Key Clinical Data to Watch For Next Year (Part 2)
On Monday, Xconomy began our annual look ahead at clinical trials that could define biotech and have profound healthcare effects in the coming year. Today we’re circling back with the rest of the list, which includes studies of drugs for nonalcoholic steatohepatitis, cystic fibrosis, spinal muscular atrophy and more. Read on for the details. [Editor’s … Continue reading “15 For ’19: Key Clinical Data to Watch For Next Year (Part 2)”
A.I. in 2019: IBM Exec on Advances in Training, Trust, Transparency
[Editor’s note: This is part of a series of posts sharing thoughts from technology leaders about 2018 trends and 2019 forecasts.] Today’s artificial intelligence technologies have demonstrated they’re capable of handling specific tasks, such as identifying pictures of cats or spotting cancer in CT scans. Researchers are hopeful the industry’s next breakthroughs will enable A.I. … Continue reading “A.I. in 2019: IBM Exec on Advances in Training, Trust, Transparency”
15 for ’19: Key Clinical Data to Watch for Next Year (Part 1)
It can take decades and billions of dollars to develop a drug, and its fate—and often that of its developer—rests in the outcome of clinical trials. Just look at some of 2018’s biggest biotech stories. The failure of a closely watched cancer immunotherapy combination sent ripples through the sector and led several companies to change … Continue reading “15 for ’19: Key Clinical Data to Watch for Next Year (Part 1)”
Rectify Takes Its Lengthy History to San Antonio Security Incubator
San Antonio—Rectify, a business developing software to automate the process of removing private or sensitive information from documents when they’re shared, has had a busy start to the winter. The Austin, TX-based company won $100,000 during a pitch contest in October at the Women in Tech Summit hosted by Capital Factory. A month later, it … Continue reading “Rectify Takes Its Lengthy History to San Antonio Security Incubator”
Bio Roundup: Eli Lilly Tries Tau, Generic Insulin, NASH Cash & More
Pharmaceutical industry critics lament the cost of rare disease drugs, but some of the steepest price hikes have come on widely used insulin. The patent holder, the University of Toronto, gave companies the right to manufacture insulin. But the university also allowed them to patent the improvements they made, which enabled them to slap higher … Continue reading “Bio Roundup: Eli Lilly Tries Tau, Generic Insulin, NASH Cash & More”