The news broke Sunday night that Uber has offered the job of CEO to Dara Khosrowshahi, the outspoken steady hand guiding Bellevue, WA-based online travel giant Expedia (NASDAQ: [[ticker:EXPE]]) for the last dozen years. Khosrowshahi and Uber have not officially confirmed the news as of Monday evening. An internal e-mail from Barry Diller, Expedia chairman, … Continue reading “Who is Dara Khosrowshahi, Uber’s Pick to be CEO?”
To Be More Than Quick Splash, Gilead’s CAR-T Purchase Faces Hurdles
[Updated 8/28/17, 6:45p.m. ET. See below.] Gilead Sciences CEO John Milligan promised today that the company’s $11.9 billion acquisition of Kite Pharma and its cutting-edge CAR-T cell therapy would not be a “one and done” proposition. “This is a long-term play with multiple product opportunities,” Milligan said, calling it the foundation of Gilead’s “fairly nascent” … Continue reading “To Be More Than Quick Splash, Gilead’s CAR-T Purchase Faces Hurdles”
TARA Biosystems Taps MyoKardia’s Michael Graziano for CSO Post
Michael Graziano is joining TARA Biosystems to become the New York company’s chief scientific officer. TARA Biosystems is developing “heart-on-a-chip” tissue models that can be used in drug discovery and drug toxicity testing. Graziano most recently worked at South San Francisco, CA-based MyoKardia (NASDAQ: [[ticker:MYOK]]), where he was vice president of research biology. Before MyoKardia, Graziano … Continue reading “TARA Biosystems Taps MyoKardia’s Michael Graziano for CSO Post”
Iconic Therapeutics Brings Brandon Smith On Board as COO
Iconic Therapeutics has appointed Brandon Smith chief operating officer. South San Francisco, CA-based Iconic is developing therapies for retinal disease and cancer. Smith comes to Iconic from Hayward, CA-based Impax Laboratories (NASDAQ: [[ticker:IPXL]]), where he was senior vice president of corporate development and strategy. Before Impax, Smith was an executive director at Amgen (NASDAQ: [[ticker:AMGN]]), … Continue reading “Iconic Therapeutics Brings Brandon Smith On Board as COO”
Social Media, Interactive Maps Tapped to Aid Harvey Rescue Efforts
Houston—Houston tech entrepreneur Shailendra Sinhasane spent the weekend reading desperate social media posts from people asking to be rescued from the rising floodwaters caused by Hurricane Harvey. “There were people on Facebook saying they are ready with their trucks to help, saying we have boats, but with social media posts, we had no idea who … Continue reading “Social Media, Interactive Maps Tapped to Aid Harvey Rescue Efforts”
LinkedIn Opens Downtown Detroit Office, Starts Search for Employees
It never fails: Every time we briefly close the Xconomy Detroit/Ann Arbor office to take a vacation, an important piece of local tech news hits. This time around, LinkedIn, the social media site primarily used for professional networking and resume-sharing, announced it is opening a Detroit office—the company’s first new office in 10 years. Last … Continue reading “LinkedIn Opens Downtown Detroit Office, Starts Search for Employees”
SetPoint Nabs $30M For More Tests of Bioelectric Device as RA Therapy
SetPoint Medical is trying to use tiny pulses of electricity to treat inflammation in the body, and it now has an additional $30 million in funding to continue testing its approach in humans. The capital infusion announced Monday for SetPoint is a Series D round of investment. The company says it plans to use the … Continue reading “SetPoint Nabs $30M For More Tests of Bioelectric Device as RA Therapy”
Uber Picks Expedia Leader As CEO Over Immelt, Whitman: Reports
In a last-minute shuffle Sunday night, Uber’s strife-ridden board chose Expedia CEO Dara Khosrowshahi as the new chief executive for the troubled ride-hailing giant, Recode reported. Khosrowshahi, whose name hadn’t been rumored as a CEO prospect for Uber, was waiting in the wings after the exits over the weekend of two other finalists for the … Continue reading “Uber Picks Expedia Leader As CEO Over Immelt, Whitman: Reports”
Power to the Patient: Meet Xconomy’s Patient Partnership Award Finalists
It’s clear at this point that patients are no longer just subjects in clinical trials. Thanks to the growing power of patient advocacy groups—and an FDA eager to hear their perspective—patients and drug developers are increasingly finding creating ways to work together, as we’ve seen with the four finalists in the Patient Partnership category of … Continue reading “Power to the Patient: Meet Xconomy’s Patient Partnership Award Finalists”
Gilead Makes Long-Awaited Splash With $12B Bet on Kite, Cell Therapy
Investors have been waiting for years for Gilead Sciences to make another big splash. This morning, it finally did, agreeing to buy Kite Pharma for close to $12 billion in a significant bet on the success of an emerging, cutting edge type of cancer immunotherapy known as CAR-T. Gilead (NASDAQ: [[ticker:GILD]]), of Foster City, CA, … Continue reading “Gilead Makes Long-Awaited Splash With $12B Bet on Kite, Cell Therapy”
Five Questions For … Dallas Entrepreneur & Mavericks Owner Mark Cuban
Dallas—Among the outsized personalities of Texas innovators, Mark Cuban stands out. The billionaire entrepreneur and investor owns the Dallas Mavericks professional basketball team, appears on the “Shark Tank” TV show, and now, perhaps, is mulling adding the Oval Office to his resume? Cuban, who made his fortune in 1999 when he sold his company Broadcast.com … Continue reading “Five Questions For … Dallas Entrepreneur & Mavericks Owner Mark Cuban”
Seattle Week in Review: Amazon, Whole Foods, Salmon Spill, Beef Beef
The dog days of summer are here, but there’s plenty of tech news to catch up on. Here’s a look at what’s happening with Amazon’s acquisition of Whole Foods and its amazing impact on real estate in Seattle and elsewhere; a farmed salmon spill in Puget Sound; a careful look at Crowd Cow and the … Continue reading “Seattle Week in Review: Amazon, Whole Foods, Salmon Spill, Beef Beef”
UT Nominates MD Anderson Alum Peter Pisters to Replace DePinho
Austin—The University of Texas System Board of Regents Friday afternoon announced that Peter W.T. Pisters from the University Health Network in Toronto as the sole finalist to lead UT’s MD Anderson Cancer Center. The regents approved his nomination unanimously in a specially called board meeting in which board chairman Paul Foster said several candidates were … Continue reading “UT Nominates MD Anderson Alum Peter Pisters to Replace DePinho”
RegenxBio to Acquire Dimension Tx in Combo of Gene Therapy Companies
Dimension Therapeutics has agreed to be acquired by RegenxBio, the gene therapy developer that originally helped form the company four years ago. RegenxBio (NASDAQ: [[ticker:RGNX]]), based in Rockville, MD, will pay $3.41 per share in the all-stock deal valued at approximately $86 million. By comparison, Cambridge, MA-based Dimension (NASDAQ: [[ticker:DMTX]]) went public at $13 per … Continue reading “RegenxBio to Acquire Dimension Tx in Combo of Gene Therapy Companies”
Bio Roundup: Drug Price Debates, NY Bio Blooms & CEOs Take Social Stand
In these politically divided times, Americans this week found near universal agreement on one thing: A celestial event that plunges a summer day into temporary darkness is a captivating experience. The totality of the solar eclipse lasted less than 3 minutes. If you missed it, you’ll have to wait until 2024 for the next one. … Continue reading “Bio Roundup: Drug Price Debates, NY Bio Blooms & CEOs Take Social Stand”
In a CEO Search Like Uber’s, Is There Haggling Room for Contenders?
Landing the top executive’s job at a prominent company is usually considered a career coup. But a CEO search can also be a troubled company’s hunt for a savior. A leader facing a turnaround challenge may well ask, “What am I getting myself into?” Current case in point: Uber, which ticks many boxes on the … Continue reading “In a CEO Search Like Uber’s, Is There Haggling Room for Contenders?”
Smart Choice, Foxconn, JCI, Generac & More: This Week’s WI Watchlist
Stay current on news from Wisconsin’s innovation community with these recent headlines: —Smart Choice MRI, which is based in Chicago but has roots and dozens of employees in the Milwaukee area, raised an undisclosed amount of financing from Aurora, CO-based UCHealth, according to a BizTimes Media report. Smart Choice operates a chain of imaging centers … Continue reading “Smart Choice, Foxconn, JCI, Generac & More: This Week’s WI Watchlist”
Boston Tech Watch: Rethink Robotics, SquadLocker, Semcasting & More
There was a flurry of tech deals announced this week in Boston, including the acquisitions of Applause, Digital Lumens, and Dragon Innovation, and a $6 million investment in GNS Healthcare. Here are a few more deals you might have missed: —Rethink Robotics raised $18 million from investors, part of a funding round announced last December … Continue reading “Boston Tech Watch: Rethink Robotics, SquadLocker, Semcasting & More”
Healthcare + A.I. Northwest Features Microsoft, Allen Institute on Nov. 9
Artificial intelligence technologies could have a profound impact on the healthcare system, and the Northwest’s technology giants, world-class medical and technology researchers, and startup entrepreneurs are poised to make it happen. Xconomy Seattle invites you to preview the opportunities and challenges ahead at Healthcare + A.I. Northwest, our next innovation conference coming up on Nov. … Continue reading “Healthcare + A.I. Northwest Features Microsoft, Allen Institute on Nov. 9”
Atara Biosciences Appoints Kanya Rajangam Chief Medical Officer
Atara Biotherapeutics has appointed Kanya Rajangam chief medical officer. Before joining Atara (NASDAQ: [[ticker:ATRA]]), Rajangam was chief medical officer of Burlingame, CA-based Cleave Biosciences. Atara, based in South San Francisco, CA, expects to start two Phase 3 clinical trials later this year for its lead drug, ATA129, a potential treatment for certain lymphomas.
Axial Bio Names Rao Chief Medical Officer, Two Other VPs Appointed
Srinivas Rao has joined Boston-based Axial Biotherapeutics as chief medical officer. Prior to Axial, Rao was chief medical officer of Newark, CA-based Depomed (NASDAQ: [[ticker:DEPO]]). His experience includes executive roles at Kyalin Biosciences and Cypress Biosciences. Axial also appointed Ryan Barrett to vice president of corporate development, and Bridget Cole to vice president of medicinal … Continue reading “Axial Bio Names Rao Chief Medical Officer, Two Other VPs Appointed”
Regional Innovators Start Work to Promote Texas Ecosystem as a Whole
In building thriving startup ecosystems, experts say density is key. The idea is to have a critical mass of founders, investors, mentors, and executives mixing and mingling together. That sort of serendipity allows ideas to fully blossom. Think of Kendall Square or Sand Hill Road. But, for communities not on the East or West Coasts, … Continue reading “Regional Innovators Start Work to Promote Texas Ecosystem as a Whole”
Brazilian Ag Bio Firm CTC Plans U.S. Expansion; RTP in Running for R&D Site
Brazilian sugarcane biotechnology company CTC is planning a U.S. expansion, and North Carolina’s Research Triangle is one of four regions on its short list for a future research and development site. Besides North Carolina, the company is also considering Florida, Louisiana, and Missouri for its new outpost. Diego Ferres, head of R&D at CTC, visited … Continue reading “Brazilian Ag Bio Firm CTC Plans U.S. Expansion; RTP in Running for R&D Site”
Stand Up to “Bully” Trump: Bio CEOs Levin, Holtzman Call to Their Peers
Biotech CEOs Jeremy Levin and Steve Holtzman have watched the violence in Charlottesville, VA, and its continuing aftermath with disgust. But they aren’t just upset about the rally, the violence and death, and President Trump’s equivocating blame of “many sides.” Levin, of Ovid Therapeutics (NASDAQ: [[ticker:OVID]]), and Holtzman, of Decibel Therapeutics, have been disappointed with … Continue reading “Stand Up to “Bully” Trump: Bio CEOs Levin, Holtzman Call to Their Peers”
70% Repatha Cut? Amgen Counters With Own Study To Justify Price
Writing in the Journal of the American Medical Association, researchers at the University of California, San Francisco argued this week that the price of the cholesterol-fighting drug evolocumab (Repatha) should come down 70 percent, to $4,215 a year, to be cost-effective. But a separate study, published today in JAMA Cardiology and funded by the drug’s … Continue reading “70% Repatha Cut? Amgen Counters With Own Study To Justify Price”
Gener8tor Partners with UW-Madison CS Department on Mini-Accelerator
Gener8tor is bringing its latest series of training programs for entrepreneurs to Madison, WI, as part of a new partnership with the University of Wisconsin-Madison’s computer sciences department. Launched in 2012, Wisconsin-based Gener8tor coaches and invests in early-stage businesses through different types of programs. Its most recently introduced series is gALPHA, a three-week hackathon-accelerator hybrid. Gener8tor … Continue reading “Gener8tor Partners with UW-Madison CS Department on Mini-Accelerator”
Xconomy Presents: Healthcare + A.I. Northwest
If healthcare is to be transformed by artificial intelligence, Seattle could be the place to make it happen. With a legacy of IT innovation in computing, telecom, web services, and more, coupled with unique strengths in life sciences and medical devices, the area is poised to leverage advances in computer vision, natural language processing, and … Continue reading “Xconomy Presents: Healthcare + A.I. Northwest”
WARF’s Erik Iverson Announces New VC Funds, Therapeutics Program
The University of Wisconsin-Madison’s tech transfer office plans to invest $60 million in startups affiliated with the school over the next eight years and has launched a separate $50 million initiative aimed at commercializing UW-Madison research and discoveries in human therapeutics. Erik Iverson, managing director of the Wisconsin Alumni Research Foundation—an independent organization that manages … Continue reading “WARF’s Erik Iverson Announces New VC Funds, Therapeutics Program”
Osram Greenlights Acquisition of Digital Lumens as IoT Powers Up
[Corrected 8/23/17, 5:30 pm. See below.] Lately, if you blink, you might miss the news of another sale of a Boston-area tech company. The latest is Digital Lumens. Germany-based lighting manufacturer Osram has agreed to acquire the nine-year-old Boston firm, which sells LED lighting systems equipped with sensors and controlled by software. The purchase price … Continue reading “Osram Greenlights Acquisition of Digital Lumens as IoT Powers Up”
Memphis Meats Cooks Up $17M Funding Round for Lab-Grown “Meat”
Memphis Meats says it has developed a way to grow animal cells into products that have the look, texture, and taste of meat from farm-grown chickens. The San Francisco Bay area startup is now working to scale up its production process, and it has raised $17 million in funding toward that goal. The Series A … Continue reading “Memphis Meats Cooks Up $17M Funding Round for Lab-Grown “Meat””
Vista Equity to Acquire Applause, as App Testing Firm Eyes Profits
The rise of smartphones, wearables, and other Internet-connected devices has enabled Applause to build what it says is a thriving business helping companies like Facebook and Starbucks test their apps and other digital products. Now, the decade-old firm, a stalwart of the Boston tech scene, intends to boost its growth with the help of a … Continue reading “Vista Equity to Acquire Applause, as App Testing Firm Eyes Profits”
FDA Clears Way for Filing on Psych Drug From Intra-Cellular, Shares Climb
The FDA has just lowered a key barrier standing between Intra-Cellular Therapies and potential approval of an experimental schizophrenia drug. Now the question is whether the mixed set of data the company has accrued to support the program will be good enough for regulators. Intra-Cellular (NASDAQ: [[ticker:ITCI]]) said the FDA has finished looking over responses … Continue reading “FDA Clears Way for Filing on Psych Drug From Intra-Cellular, Shares Climb”
Breaking Barriers & Building Bridges: Xconomy’s Diversity Award Finalists
Innovation comes from a steady flow of new ideas, and the desire to remain innovative and competitive is driving many institutional efforts to boost student and workforce diversity. The Xconomy Award finalists in the “Commitment to Diversity” category span academia and industry. A common thread among them is an effort to boost the diversity of … Continue reading “Breaking Barriers & Building Bridges: Xconomy’s Diversity Award Finalists”
Filestack, Maker of File Uploading API, Hires New CEO Sameer Kamat
San Antonio—Filestack, a startup offering software that aims to make uploading photos and other content to applications easier and more reliable, has hired a new CEO: Sameer Kamat, an executive and engineer who spent the last 15 years at data and application backup company Unitrends. Kamat started at Unitrends as a software engineer and worked … Continue reading “Filestack, Maker of File Uploading API, Hires New CEO Sameer Kamat”
The Downside of Immersive Tech: An Increasingly Isolated World
As an entrepreneur who has been involved in tech and media for over two decades, I have seen my share of disruptions (I so hate that word!) and even participated in a few. Back in the 1990s, while we were developing some broadband technologies at Sourcecom, my first startup, we also had to develop the … Continue reading “The Downside of Immersive Tech: An Increasingly Isolated World”
GNS Healthcare Adds $6M, Led by Amgen, for Machine Learning Tech
The investment arm of biotech giant Amgen has led a new $6 million round of funding in GNS Healthcare, CEO Colin Hill tells Xconomy. Amgen Ventures’ new investment is a part of the company’s Series C financing round, which now totals $23 million, says Hill, who is also GNS’s chairman and co-founder. Cambridge, MA-based GNS … Continue reading “GNS Healthcare Adds $6M, Led by Amgen, for Machine Learning Tech”
Scott Miller Talks Dragon Innovation’s Winding Journey to Avnet Deal
It’s funny how relationships can come full circle in the business world. The seeds of Dragon Innovation’s sale to Avnet, announced Tuesday, were planted over a decade ago in China, says Dragon co-founder and CEO Scott Miller. At the time, he was running iRobot’s operations there alongside his future Dragon co-founder Herman Pang, he says. … Continue reading “Scott Miller Talks Dragon Innovation’s Winding Journey to Avnet Deal”
With $45M in New Cash, Skytap Covers Terrain Missed by Cloud Giants
Despite their size, the cloud computing services provided by tech giants such as Microsoft, Amazon, and Google, don’t work for everyone. Skytap, a Seattle-based company that spun out of University of Washington at the dawn of cloud computing to help businesses move traditional IT functions to the cloud, on Tuesday announced it has raised $45 … Continue reading “With $45M in New Cash, Skytap Covers Terrain Missed by Cloud Giants”
After Y Combinator, May Mobility Ready to Test Self-Driving Fleets
[Corrected, 10:16 am. See below] There has been a lot of speculation about what Ann Arbor, MI-based May Mobility has been up to since the company began working in stealth mode early this year. The new company has to do with autonomous vehicles—one of the hottest fields in tech—but until this week its website revealed … Continue reading “After Y Combinator, May Mobility Ready to Test Self-Driving Fleets”
Avnet Acquires Boston Hardware Consultant Dragon Innovation
Dragon Innovation, the Boston-area hardware consulting firm, has been acquired by one of its partners, Avnet, for an undisclosed price. Phoenix-based global distributor Avnet (NYSE: [[ticker:AVT]]) says it offers a mix of product design and supply chain services. Prior to the deal, Avnet owned a portfolio of seven subsidiaries, and it has been on an … Continue reading “Avnet Acquires Boston Hardware Consultant Dragon Innovation”
Marketing Startup Sigstr Gets $5M From Hyde Park, HubSpot & Others
Sigstr, an e-mail marketing startup based in Indianapolis, says it has raised $5 million in Series A funding. The investment was led by Hyde Park Venture Partners, which was joined by HubSpot (NYSE: [[ticker:HUBS]]), Battery Ventures, Grand Ventures, and High Alpha Capital. Investors have pumped a total of $7 million into Sigstr, a company spokeswoman … Continue reading “Marketing Startup Sigstr Gets $5M From Hyde Park, HubSpot & Others”
HubSpot Dips Toe Further Into Startup Investing With Sigstr Deal
HubSpot is ramping up its startup investments as part of a larger strategic effort to augment the capabilities of its sales and marketing software tools. Some of the young companies HubSpot backs may become its partners—if they’re not already—by integrating their services with the larger company’s. The 12-year-old Cambridge, MA-based company made its first investment … Continue reading “HubSpot Dips Toe Further Into Startup Investing With Sigstr Deal”
DotCom Therapy Gets Shot at Silicon Valley VCs After Pitch Contest
DotCom Therapy, a Madison, WI-based startup that has developed software allowing the dozens of therapists it employs to provide remote speech therapy services to schoolchildren, captured first place in one of Wisconsin’s more closely watched pitch competitions on Monday. The contest DotCom Therapy won was the fourth annual “Pressure Chamber,” which is put on by … Continue reading “DotCom Therapy Gets Shot at Silicon Valley VCs After Pitch Contest”
Microsoft Can Recognize Speech as Well as Humans on Switchboard Task
Microsoft researchers have been steadily improving the accuracy of their speech recognition technology—a necessary precursor to many other artificial intelligence applications—achieving parity with human performance on a benchmark task called Switchboard last year. Since then, the bar for human parity has been moved. Another research group improved the human word error rate to 5.1 percent … Continue reading “Microsoft Can Recognize Speech as Well as Humans on Switchboard Task”
Liftoff: Kickstarter-Backed Overhaul of NASA Mission Control Is A Go
Houston—NASA’s Mission Control is on its way to getting a major facelift, thanks to the help of a few thousand friends. A 30-day Kickstarter campaign that ended on Saturday raised $506,905 from 4,251 backers—an amount that is more than double the campaign’s goal of $250,000. The project is aimed at helping to pay for a … Continue reading “Liftoff: Kickstarter-Backed Overhaul of NASA Mission Control Is A Go”
Austin’s Apollo Endosurgery Responds to FDA Note After Patient Deaths
Austin—Two years after gaining FDA approval to market a minimally invasive gastrointestinal balloon to combat obesity, Apollo Endosurgery (NASDAQ: [[ticker:APEN]]) is now dealing with fallout from patient deaths following implantations of the device. In a letter to healthcare providers dated Aug. 10, the FDA stated that seven deaths occurred in patients with liquid-filled intragastric balloon … Continue reading “Austin’s Apollo Endosurgery Responds to FDA Note After Patient Deaths”
Near The East River, Plans Emerge For NY’s Next Life Science Center
At a time when biotech incubators and shared spaces are beginning to multiply in Manhattan, work on what could rank among the city’s largest biotech centers—if it can all come together—is just getting underway. According to Paul Wexler, a longtime healthcare-focused real estate broker, construction should begin next year on what is being called the … Continue reading “Near The East River, Plans Emerge For NY’s Next Life Science Center”
On Drug Pricing: FDA Backs Up Its Calls for Increased Competition
FDA Commissioner Scott Gottlieb has been very public in expressing his desire to provide increased competition and greater choice to American consumers in a bid to drive down prices of prescription medicines. Recently, the agency he oversees took some unusual steps to back up those statements with action. Last week, the FDA approved the use … Continue reading “On Drug Pricing: FDA Backs Up Its Calls for Increased Competition”
Roundup: Grand Circus, STEM Initiatives, and a Lot of Cybersecurity
—Grand Circus, the coding school with campuses in downtown Detroit and Grand Rapids, is partnering with Facebook to offer a front-end developer bootcamp in October. The training course will combine Grand Circus’ front-end curriculum with React, an open-source JavaScript platform. Successful applicants will receive full scholarships and training in HTML5/CSS3, JavaSript, jQuery, React, Node.js, NPM, AJAX, … Continue reading “Roundup: Grand Circus, STEM Initiatives, and a Lot of Cybersecurity”
Nvidia Joins $20M Deal in Chinese Self-Driving Startup TuSimple
Nvidia (NASDAQ: [[ticker:NVDA]]), the Santa Clara, CA-based maker of specialized graphics processing chips that have become workhorses in artificial intelligence, has joined a group of investors that put $20 million into TuSimple, a Chinese startup developing self-driving technology for long-haul trucks. In a blog posted Wednesday, Nvidia says TuSimple has used Nvidia GPUs, the Nvidia … Continue reading “Nvidia Joins $20M Deal in Chinese Self-Driving Startup TuSimple”