Category: Wisconsin

Bio Roundup: CRISPR Appeal, Bristol Deals, Stock Pumping & More

It may have been a short holiday week, but there was plenty of news on the CRISPR front. In the ongoing battle for rights to the landmark gene editing technology, the faction led by the University of California appealed the U.S. decision in favor of the Broad Institute. Elsewhere, Bristol-Myers Squibb flipped assets, a top … Continue reading “Bio Roundup: CRISPR Appeal, Bristol Deals, Stock Pumping & More”

Third Fund Under State Program Gets $6M, To Be Based in Southern WI

A program supported in part by the state of Wisconsin that’s aimed at helping startups raise venture capital said it invested $6 million in a new fund based in the southern part of the state. The new fund is the third launched in the past year under the program, which is known as the Badger … Continue reading “Third Fund Under State Program Gets $6M, To Be Based in Southern WI”

Cellectar Brings On John Friend as Chief Medical Officer

Cellectar Biosciences, a Madison, WI-based company that is developing drugs with the potential to treat malignant tumors and certain forms of blood cancer, said on Wednesday that it has named John Friend as its chief medical officer, effective April 17. Friend, a physician, previously worked at the Swiss pharmaceutical group Helsinn Therapeutics for more than … Continue reading “Cellectar Brings On John Friend as Chief Medical Officer”

The Otonomy Story and the Human Impact of Innovation

[Editor’s note: Jay Lichter will discuss his personal odyssey in drug development on April 19 at The Xconomy Forum on the Human Impact of Innovation. Online registration is here.] I am a pharmaceutical scientist and a biotech venture capitalist. I start companies that are focused on creating new drugs. So when my doctor told me … Continue reading “The Otonomy Story and the Human Impact of Innovation”

Lucigen, EnsoData, Rowheels, & More: This Week’s Wisconsin Watchlist

Keep up with the latest news from Wisconsin’s innovation community, starting with these recent headlines: —Middleton-based Lucigen, which makes tools for life sciences researchers, said it now has the exclusive rights to distribute Epicentre’s genomic kits, enzymes, and ancillary reagents. Madison-based Epicentre was purchased by San Diego-based Illumina (NASDAQ: [[ticker:ILMN]]) in 2011 for $71 million; … Continue reading “Lucigen, EnsoData, Rowheels, & More: This Week’s Wisconsin Watchlist”

Bio Roundup: Gottlieb Talks Vax, Acorda’s Axe, Adams, 23andMe & More

In the nation’s capital, healthcare and life sciences were on center stage. Or stages, actually. On Capitol Hill, FDA commissioner nominee Scott Gottlieb, the drug industry’s favorite pick, told senators his extensive industry ties wouldn’t cloud his judgment or create conflicts. At a downtown convention center, Joe Biden slammed the Trump administration’s budget-cutting plans. And … Continue reading “Bio Roundup: Gottlieb Talks Vax, Acorda’s Axe, Adams, 23andMe & More”

AACR Review: Biden Fired Up, Incyte Doubles Up, BMS Up And Down

The American Association for Cancer Research held its annual meeting this week in Washington, DC, a convenient venue for former Vice President Joe Biden to deliver a broadside against the Trump administration’s proposed budget cuts in science funding. For Biden, it’s personal. In the final year of the Obama administration, he championed a push for … Continue reading “AACR Review: Biden Fired Up, Incyte Doubles Up, BMS Up And Down”

Redox to Help Intermountain Bring Homegrown Apps to More Providers

In 2014, the startup accelerator Healthbox launched a program in Salt Lake City in partnership with Intermountain Healthcare, a network of hospitals and clinics headquartered there. The following year, the accelerator graduated a class of startups from its Healthbox Studio program that included Madison, WI-based Redox, which develops software that enables healthcare applications to exchange … Continue reading “Redox to Help Intermountain Bring Homegrown Apps to More Providers”

Some Cause for Optimism in Hired’s Research on Gender Wage Gap

Amid the ongoing conversation about gender discrimination in the tech industry, and recent sexual harassment claims against some of its biggest names, here’s some sort-of good news about women in tech: When companies make job offers to both men and women, women receive lower salary offers 63 percent of the time for the same job, … Continue reading “Some Cause for Optimism in Hired’s Research on Gender Wage Gap”

Shine Medical Raises $2.2M to Stay in Race for Vital Imaging Isotope

Shine Medical Technologies, a Janesville, WI-based company that’s working to resume domestic production of a vital medical isotope, has raised another $2.2 million from investors, says vice president of business development Katrina Pitas. According to a document filed with federal securities regulators, Shine raised more than $27.1 million in debt financing in January. With the … Continue reading “Shine Medical Raises $2.2M to Stay in Race for Vital Imaging Isotope”

FDA Nominee Scott Gottlieb To Anti-Vaccine Crowd: Get Over It

In what passes for a short hearing these days in Washington, DC, the Trump White House’s pick to run the Food and Drug Administration, Scott Gottlieb, spent less than three hours fielding questions from a Senate committee Wednesday morning. Amid predictable splits between Republican praise for his past industry experience and Democrat fire over potential … Continue reading “FDA Nominee Scott Gottlieb To Anti-Vaccine Crowd: Get Over It”

Slowdown Continues in First-Quarter VC Funding—and Top 10 Deals

Is a caution flag flying? While U.S. venture firms refueled last year by raising a near-record $51.6 billion, they also eased off the throttle in terms of their investment activity during the first quarter of 2017, according to data released today by Seattle-based PitchBook and the National Venture Capital Association (NVCA). According to the latest … Continue reading “Slowdown Continues in First-Quarter VC Funding—and Top 10 Deals”

With New Debt Round, Madison Startup Kiio Passes $5M in Funding

Most people are familiar with the concept of performing a series of rehabilitation exercises after having surgery. But far fewer have likely heard of “pre-habilitation” exercise regimens, which are assigned to patients before they go under the knife. The idea has gained traction due to changes in how the government reimburses hospitals and clinics for … Continue reading “With New Debt Round, Madison Startup Kiio Passes $5M in Funding”

How Battling New Epidemics Helps Fight Age-Old Killers

Washington state has reported nearly 300 cases of mumps this winter and experts predict this may be the state’s worst flu season in years, a stark reminder of how dangerous even familiar viruses can be. While the Ebola and Zika outbreaks have dominated the headlines in recent years, they are part of a paradigm we … Continue reading “How Battling New Epidemics Helps Fight Age-Old Killers”

Telkonet, Wantable, Marquette, & More: This Week’s WI Watchlist

March into April by staying current on news from Wisconsin’s innovation community, starting with these recent headlines: —Telkonet, a Waukesha-based company that develops hardware and software to connect machines to the Internet, and to each other, sold one of its business divisions to Syosset, NY-based DCI-Design Communications. The price paid for the business unit, which is … Continue reading “Telkonet, Wantable, Marquette, & More: This Week’s WI Watchlist”

Bio Roundup: New Drug Bonanza, Vertex’s Triple Play, CAR-T Race & More

As far as singular weeks go for biotech, this was a big one. Three highly anticipated drugs were approved. One is the first injectable medication for eczema. Another might help fend off the recurrence of ovarian cancer. And a third offers hope for people with severe forms of multiple sclerosis. Another drug, a new combination … Continue reading “Bio Roundup: New Drug Bonanza, Vertex’s Triple Play, CAR-T Race & More”

Promentis Pharmaceuticals Completes $26M Financing to Advance CNS Drug

[Updated 3/31/17, 12:03 pm. See below.] Promentis Pharmaceuticals, a Milwaukee-based developer of drugs designed to modify brain chemistry to treat central nervous system disorders, has raised $26 million from investors, the company said Thursday. The Series C financing round was led by three firms, Promentis said: Aisling Capital and OrbiMed, both based in New York, and Cambridge, … Continue reading “Promentis Pharmaceuticals Completes $26M Financing to Advance CNS Drug”

WI Corporate Venture Funds Say They Bring Startups More Than Money

For a tech startup seeking to raise venture capital, there can be benefits to accepting an investment from the VC arm of a large corporation, rather than a traditional, standalone venture firm. For example, doing so might allow the startup to tap into the larger organization, whose employees and customers could use the technology and … Continue reading “WI Corporate Venture Funds Say They Bring Startups More Than Money”

Gener8tor Announces Latest Mini-Accelerator Classes, Pitch Event

The Wisconsin-based startup accelerator Gener8tor earlier this week unveiled the 10 startups currently participating in gBETA, a free, six-week program managed by Gener8tor. The companies are split evenly between two programs. One is taking place in Beloit, WI, the first time gBETA has been held in that city. The other program is in Madison, WI. … Continue reading “Gener8tor Announces Latest Mini-Accelerator Classes, Pitch Event”

Exact Sciences Shares Higher After Aetna Expands Cologuard Coverage

Another large insurer has said it will cover Cologuard, a stool-based DNA screening test for colorectal cancer developed by Madison, WI-based Exact Sciences. The announcement sent the company’s stock price higher during trading Monday. Hartford, CT-based Aetna (NYSE: [[ticker:AET]]) updated its policy to include Cologuard in its list of covered colorectal cancer screening tests on … Continue reading “Exact Sciences Shares Higher After Aetna Expands Cologuard Coverage”

From Cow Chips to Fake Drugs, Panel Explores Blockchain’s Potential

If you keep hearing your tech-savvy colleagues and friends using the term “blockchain,” but still feel like you don’t quite understand what they’re referring to, you’re not the only one. Even top executives at large financial services firms are still getting a handle on the emerging technology and its potential impact. Blaise Beaulier is vice … Continue reading “From Cow Chips to Fake Drugs, Panel Explores Blockchain’s Potential”

Arrowhead, Research Cuts, JCI, & More: This Week’s WI Watchlist

Catch up on news from Wisconsin’s innovation community with these recent headlines: —Arrowhead Pharmaceuticals, which is based in Pasadena, CA, but houses its research and development operations in Madison, entered into a stockholder rights agreement. This type of agreement, known colloquially as a “poison pill,” is typically aimed at protecting a company’s shareholders in the … Continue reading “Arrowhead, Research Cuts, JCI, & More: This Week’s WI Watchlist”

Michigan Might Hold Lessons for Improving Wisconsin’s VC Climate

Wisconsin and Michigan share a border, but there’s a significant gap between the two states in the amount of money investors are putting into startups based there each year. Following the recent decision to reboot the Wisconsin Venture Capital Association, which happened in part because a Madison, WI-based VC firm has a satellite office in … Continue reading “Michigan Might Hold Lessons for Improving Wisconsin’s VC Climate”

Bio Roundup: Trumpcare Wavers, Amgen Courts Payers, Critics Circle PTC

Who knew healthcare could be so complicated? This week, President Trump and the GOP saw first hand, as a feverish rally to get their healthcare bill through the House of Representatives on Thursday stalled before a vote. Elsewhere in Washington DC, drug pricing continued to be a political football. Two well known congressional drug pricing … Continue reading “Bio Roundup: Trumpcare Wavers, Amgen Courts Payers, Critics Circle PTC”

Amid Gender Gap Talk, Mentor Network Emerges For Women In Health, Bio

It’s been more than a year since an infamous party with hired models in cocktail dresses captured the biotech community’s attention at the 2016 J.P. Morgan conference. There has been plenty of talk since about closing biotech’s notable gender gap. At this year’s J.P Morgan conference, for example, a group of 100 life science executives … Continue reading “Amid Gender Gap Talk, Mentor Network Emerges For Women In Health, Bio”

Investors Reboot Wisconsin Venture Capital Association

The Wisconsin Venture Capital Association, a nonprofit trade group that was formed in 2002 but has been dormant since 2008, is springing back to life, according to key figures in the state’s venture industry. The revival, first reported by the Milwaukee Journal Sentinel, was confirmed Wednesday by two Madison-based investors. Scott Button, managing director at Madison, … Continue reading “Investors Reboot Wisconsin Venture Capital Association”

Join David Baltimore, Nicole Glaros, Nathan Myhrvold, & More at Our Napa Summit

Year after year, Xconomy has gathered exemplary business leaders, investors, and far-seeing technologists to our most prestigious event—The Napa Summit. This year is no different. Come join us in the heart of wine country on June 8 and 9 to listen to visionary speakers and connect with fellow innovators. The Napa Summit is by invitation-only, … Continue reading “Join David Baltimore, Nicole Glaros, Nathan Myhrvold, & More at Our Napa Summit”

Amid Focus On Value, Forward Health Group’s Software Gets Qualified

With the healthcare industry navigating the transition from fee-for-service payment models to value-based care, startups and mature healthcare IT companies are building tools to enable this massive business change. In many cases, the federal agency driving this transition must certify those tools, ensuring that they hew to new reporting requirements designed to link the quality … Continue reading “Amid Focus On Value, Forward Health Group’s Software Gets Qualified”

Scanalytics Receives Loan From WEDC, Eyes Series A Later This Year

Scanalytics, a Milwaukee-based startup that creates hardware and software to help customers track the movement of people through physical spaces, says it has received a $200,000 loan from the Wisconsin Economic Development Corp. The loan, which WEDC provided under its Technology Development Loan Program, is part of a $1 million-plus funding round that Scanalytics recently … Continue reading “Scanalytics Receives Loan From WEDC, Eyes Series A Later This Year”

Talking Driverless Cars, March Madness on Stocks and Jocks Radio

I hit the airwaves Friday morning to talk venture capital, startups, self-driving cars, and March Madness. Stocks and Jocks, a Chicago-based weekday business and sports talk radio program, invited me on the show to share my thoughts on some of the latest trends in the startup world. Hosts Tom Haugh and Kathy Dervin bantered with … Continue reading “Talking Driverless Cars, March Madness on Stocks and Jocks Radio”

Bio Roundup: Trump Budget, FDA Chief, CAR-T Qs, CRISPR Cash, & More

If it wasn’t clear that the Trump administration disdained most types of scientific inquiry and practice, the White House’s proposed budget drove the point home. The top-line figures: a nearly 20 percent cut in the National Institutes of Health, and a 30 percent cut in the Environmental Protection Agency. These and other cuts to programs … Continue reading “Bio Roundup: Trump Budget, FDA Chief, CAR-T Qs, CRISPR Cash, & More”

Facing ‘Headwinds,’ Connecture Raises Another $17.5M From PE Firms

The uncertainty surrounding the Affordable Care Act and the private, state, and federal health insurance marketplaces launched following the law’s passage has created “market headwinds” for the Brookfield, WI-based software developer Connecture, the company’s CEO said earlier this week. Connecture (NASDAQ: [[ticker:CNXR]]), which sells Web-based software designed to aid consumers shopping for health plans, reported … Continue reading “Facing ‘Headwinds,’ Connecture Raises Another $17.5M From PE Firms”

Machine Learning 201: Exploring the Market for New Business

2016 will be remembered for many things, not least as the year that AI and machine learning stepped into the technological and cultural spotlight. Advances in applied machine learning fueled our enthusiasm for smarter, more talkative devices. It impacted how we learned about and processed the news—and fake news—of the national elections. Automation grew in … Continue reading “Machine Learning 201: Exploring the Market for New Business”

Lumanu, Doyenne Group, Intellivisit & More: This Week’s WI Watchlist

Keep up with the latest news from Wisconsin’s innovation community with these recent headlines: —Lumanu, a Milwaukee-based developer of marketing software that helps customers identify social media users to serve as “influencers” for their brands, was the subject of a Milwaukee Journal Sentinel profile. The startup, which was part of the most recent class to … Continue reading “Lumanu, Doyenne Group, Intellivisit & More: This Week’s WI Watchlist”

Tax Reform and Choice of Business Entity

Choice of entity—how an entrepreneur decides to conduct the business—is a key decision with critical tax and non-tax implications. In the coming months, the White House is expected to release a detailed tax reform plan which, among other things, may include a significant reduction in corporate tax rates. If the anticipated changes are adopted, should … Continue reading “Tax Reform and Choice of Business Entity”

Did Milwaukee-Based Startups Really Raise $111 Million in 2016?

According to data compiled by PitchBook and the National Venture Capital Association, two groups that monitor investment trends, startups based in the Milwaukee area collectively raised about $44.6 million in 2016. That was up from 2015, when PitchBook and NVCA data show the region’s funding total was about $28.1 million. Many members of the Milwaukee area’s … Continue reading “Did Milwaukee-Based Startups Really Raise $111 Million in 2016?”

Invenra Adds Partners, Still Open to Developing Own Drugs in Future

In the past three months, Invenra has announced two new partnerships, under which the company will provide therapeutic antibodies to its collaborators. Madison, WI-based Invenra is one of a small number of companies that has traditionally used cell-free protein expression technology to identify therapeutic monoclonal antibodies. This approach sets Invenra apart from the more popular … Continue reading “Invenra Adds Partners, Still Open to Developing Own Drugs in Future”

Airlines Must Improve IT Infrastructure Now or Pay Later  

At the tail end of this past holiday season—on one of the busiest travel days of the year—thousands of arriving international passengers found themselves stuck for hours in the line at customs, waiting to be processed. It wasn’t a terror alert, mechanical failure, or nefarious cyberattack that caused long lines and huge delays for travelers … Continue reading “Airlines Must Improve IT Infrastructure Now or Pay Later  “

Possible Cures. Mystery Deaths. Daunting Costs. Can CAR-T Be Tamed?

It’s a struggle that comic-book fans know well. Ordinary people, bestowed with super powers from a spider bite or gamma rays, struggle to harness their own abilities. T cells, key soldiers of the immune system, are wrestling with new-found super powers, too. Certain T cells hunt down invasive viruses, bacteria, and the body’s own bad … Continue reading “Possible Cures. Mystery Deaths. Daunting Costs. Can CAR-T Be Tamed?”

WARF, Cellectar Expand Licensing Agreement For Blood Cancer Drug

The organization that manages patents and licensing of intellectual property for the University of Wisconsin-Madison has expanded a licensing agreement with Cellectar Biosciences, a developer of cancer drugs, the company said earlier this week. The agreement, between the Wisconsin Alumni Research Foundation (WARF) and Madison, WI-based Cellectar (NASDAQ: [[ticker:CLRB]]), covers the use of the company’s … Continue reading “WARF, Cellectar Expand Licensing Agreement For Blood Cancer Drug”

Scott Gottlieb On Tap to Lead FDA, and Biopharma Exhales

[Updated 3/12/17 with more comments, see below] The Trump administration has nominated Scott Gottlieb to be the new commissioner of the FDA, a selection that had the life sciences industry breathing a sigh of relief Friday afternoon. The 44-year-old Gottlieb is a physician, a venture partner at New Enterprise Associates, and was also the deputy … Continue reading “Scott Gottlieb On Tap to Lead FDA, and Biopharma Exhales”

Biotech Roundup: Obamacare Lite, DePinho Out, Dunsire In & More

We’ll start the roundup in Washington DC. The repeal of the Affordable Care Act, also known as Obamacare, began on the first day of the Trump administration. This week, the “replace” phase began with a Republican plan championed by House Speaker Paul Ryan (R-WI). President Trump backed it, too, but a lot of Republicans have … Continue reading “Biotech Roundup: Obamacare Lite, DePinho Out, Dunsire In & More”

As Health Insurance Debate Heats Up, Dynamis Plugs Away

The best way to create a framework that enables large numbers of Americans to have health insurance, while keeping costs under control for patients, care providers, and insurers, has been a subject of heated political debate for much of the past decade. But for all the arguments that have been put forth criticizing and defending … Continue reading “As Health Insurance Debate Heats Up, Dynamis Plugs Away”

Will Driverless Cars Ever Yield Profits for Uber and Lyft?

Uber has suffered a series of troubles early this year, from sexual harassment claims by a former staff engineer to an intellectual property theft lawsuit by Google unit Waymo. But Uber’s most longstanding, recurrent, and core problem stems from its relationship with its contract drivers. It’s not surprising that Uber is seeking an escape from … Continue reading “Will Driverless Cars Ever Yield Profits for Uber and Lyft?”

Toyota and Others Enabling Self-Driving Cars to Talk to Each Other

Drivers have plenty of ways to communicate with their fellow drivers, beyond the basic turn signal. Some methods are nice, like a friendly wave to beckon a merging car into your lane. Others, not so much. We’ve all probably cursed or honked at another driver, or been given the finger. But if driverless cars become … Continue reading “Toyota and Others Enabling Self-Driving Cars to Talk to Each Other”

Immigrants Are the Best of Humanity and the Strength of Our Nation

[Editor’s note: This post was adapted from Mohamad Ali’s speech at a naturalization ceremony at the JFK Library in Boston on March 8, 2017.] My fellow immigrants, buenas tardes, masa-al-khayr, and good afternoon! I am deeply moved by the opportunity to be here today, to share this momentous occasion with you, and to personally return … Continue reading “Immigrants Are the Best of Humanity and the Strength of Our Nation”

Three Ways to Bolster The Innovation Ecosystem for Women

When the topic of encouraging more female leadership in the startup economy arises, discussions usually center on what women entrepreneurs should do differently. How they should present with greater authority, or how they should “dress the part” for their next investor pitch. Put frankly, how they should adopt any manner of different behaviors. I would … Continue reading “Three Ways to Bolster The Innovation Ecosystem for Women”

Gravy Live, Promega, Okanjo, & More: This Week’s Wisconsin Watchlist

Stay current on news from Wisconsin’s innovation community with these headlines from late February and early March: —A trio of serial entrepreneurs based in the Madison area has launched a new startup, Gravy Live. The company raised more than $450,000 in funding from three investors, according to a regulatory filing that was made public on … Continue reading “Gravy Live, Promega, Okanjo, & More: This Week’s Wisconsin Watchlist”