A 2014 report provided a stark frame of reference for the challenge of fighting Alzheimer’s disease, showing that 99.6 percent of all drugs in the field had failed in one way or another. Led by Jeffrey Cummings, director of the Cleveland Clinic’s Lou Ruvo Center for Brain Health, the same authors recently published a new … Continue reading “Alzheimer’s Drug Pipeline Analysis: Have We Hit Peak Amyloid?”
Last Chance to Grab Your Ticket for Xconomy IMPACT
Tomorrow, join Xconomy at the Museum of Science for a unique multidisciplinary event—IMPACT: Innovation That Matters. There are a lot of topics we’ll cover, but the main focus will be on how innovative technologies and the people behind them can make a real difference in our society. The afternoon will be comprised of keynote speeches, … Continue reading “Last Chance to Grab Your Ticket for Xconomy IMPACT”
Mighty AI Opens Detroit Office to Pursue Auto Industry Customers
Mighty AI, a Seattle-based startup offering “training data as a service” for artificial intelligence applications, has opened a new office in Detroit. According to founder and CEO Matt Bencke, the company chose the location inside the Techstars Mobility headquarters to explore autonomous vehicle development prospects in Southeast Michigan. “We’ve been getting more automotive customers, and … Continue reading “Mighty AI Opens Detroit Office to Pursue Auto Industry Customers”
Cybereason Gets $100M to Fend Off Cyber Attacks—and Competitors
Lior Div just raised a $100 million funding round for his security-tech company, Cybereason. A daunting task, to be sure. “It’s very hard to raise money,” says Div, the company’s CEO and co-founder. “I see it all the time with colleagues of mine, founders. But if you really have a good, unique solution that’s proven, … Continue reading “Cybereason Gets $100M to Fend Off Cyber Attacks—and Competitors”
Rubius Adds $120M to Ready Tests of Red Blood Cells as Drug Carriers
[Updated 6/21/17, 4:05 pm. See below.] The main role of red blood cells is to carry life-sustaining oxygen throughout the body. Rubius Therapeutics believes these cells can carry something more: therapeutic payloads delivered directly to the organs and tissues of patients with severe diseases. Less than two years after launch, Cambridge, MA-based Rubius has reeled … Continue reading “Rubius Adds $120M to Ready Tests of Red Blood Cells as Drug Carriers”
Swallow Solutions Gulps Down $700K to Develop Thickened Beverages
Swallow Solutions, a Madison, WI-based startup that develops therapeutic devices and other products for people with swallowing disorders, has raised more than $726,000 in new equity financing. Seventeen investors participated in the funding round, according to an SEC filing. The company has raised nearly $4.9 million since launching in 2009, says Eric Horler, president and … Continue reading “Swallow Solutions Gulps Down $700K to Develop Thickened Beverages”
Localytics Replaces Founding CEO After Becoming Cash-Flow Positive
Localytics, one of Boston’s prominent mobile analytics and marketing software companies, has replaced its founding CEO Raj Aggarwal with Jude McColgan, a veteran mobile software executive. Aggarwal (pictured at right) will remain involved with the company, but his exact role is unclear. A spokeswoman says Aggarwal’s new role will be full-time and he will remain … Continue reading “Localytics Replaces Founding CEO After Becoming Cash-Flow Positive”
Neos Therapeutics’ Controlled-Release ADHD Drug Get FDA Approval
Dallas—The FDA late Monday approved Neos Therapeutics’ controlled-release version of an old ADHD therapy, methylphenidate. Neos (NASDAQ: [[ticker:NEOS]]) says its formulation of methylphenidate (Cotempla XR-ODT) is the first methylphenidate tablet designed to deliver the medication in a gradual manner over time—instead of all at once—and is able to orally disintegrate on the tongue to treat attention-deficit/hyperactivity … Continue reading “Neos Therapeutics’ Controlled-Release ADHD Drug Get FDA Approval”
Economic Study Ranks San Diego Near Top in Genomics Innovation
An economic impact study of San Diego’s emerging genomics industry counted 115 genomics-related companies operating in the region that directly employ over 10,000 people, and drive about $5.6 billion worth of annual economic benefits throughout the area. “San Diego is really end-to-end in genomics, from start to finish,” said Kirby Brady, who oversaw the study … Continue reading “Economic Study Ranks San Diego Near Top in Genomics Innovation”
Expanding Teladoc Adds Network, Tech With $440M Best Doctors Deal
Dallas—In Teladoc’s acquisition of Boston-based Best Doctors—a $440 million cash-and-stock deal that the companies announced Monday—Teladoc (NYSE: [[ticker:TDOC]]) is gaining a business that lets it offer more specialization in its telemedicine services. Best Doctors connects individuals who have tough decisions to make about treatments—or who want a second opinion about a diagnosis—with top-rated doctors worldwide. … Continue reading “Expanding Teladoc Adds Network, Tech With $440M Best Doctors Deal”
Insurance Against Cyber Attacks Gains Steam Alongside Rising Risk
San Antonio—The news spotlight has shifted away from cybersecurity concerns in the weeks since the outbreak of the WannaCry cyber-hack. But Bill Kelly, senior vice president for underwriting at insurer Argo Pro in San Antonio, says the threat of cyber attacks is ever present. “There’s many you don’t hear about because companies don’t want to … Continue reading “Insurance Against Cyber Attacks Gains Steam Alongside Rising Risk”
FTC Challenges DraftKings-FanDuel Merger Over Monopoly Concerns
[Updated 6/20/17, 10:20 pm. See below.] The Federal Trade Commission is attempting to block the proposed merger of DraftKings and FanDuel over concerns that it would create a near-monopoly in the U.S. market for paid daily fantasy sports contests. The FTC, along with the offices of the attorneys general in California and Washington, DC, said … Continue reading “FTC Challenges DraftKings-FanDuel Merger Over Monopoly Concerns”
New Ovarian Cancer Data Suggests Larger Role For Top Clovis Drug
Clovis Oncology received a short-cut approval from the FDA last year for its ovarian cancer drug that treats women with the common BRCA genetic mutation. Clovis (NASDAQ: [[ticker:CLVS]]) said Monday it now has evidence that the drug, rucaparib (Rubaca), can treat a wider swath of patients, and it will ask the FDA for approval this … Continue reading “New Ovarian Cancer Data Suggests Larger Role For Top Clovis Drug”
Open Letter to Travis Kalanick
For starters, this is NOT a Travis-bashing letter or an Uber-bashing one either, which would be way too easy. Besides, I already did the latter in my Nothing Super About Uber piece over two-and-a-half years ago when I questioned Uber’s then over-hyped valuation. Given current events, I’m pretty sure the next funding round will be … Continue reading “Open Letter to Travis Kalanick”
Talla Gets $8.3M, Led by Glasswing, to Build Chatbots for Enterprises
In a deal that signals where some artificial intelligence companies are heading, Boston-based Talla said today it has raised an $8.3 million Series A round led by Glasswing Ventures. PJC (formerly Point Judith Capital) also participated in the round, along with Talla’s previous investors Avalon Ventures, Pillar, and Jason Calacanis’s Launch fund. The new cash … Continue reading “Talla Gets $8.3M, Led by Glasswing, to Build Chatbots for Enterprises”
Synthetic Genomics’ “Breakthrough” Algae Produces Twice as Much Oil
[Updated 6/19/17 1:17 pm. See below.] The San Diego biotech company Synthetic Genomics and supermajor ExxonMobil (NYSE: [[ticker:XOM]]) said today they have successfully inserted a gene in a particular strain of algae that more than doubled its oil content without slowing down the algae’s rate of growth. The two companies described the work in a … Continue reading “Synthetic Genomics’ “Breakthrough” Algae Produces Twice as Much Oil”
SeaGen Ends One Leukemia Drug Trial, Stops Enrolling Three Others
Seattle Genetics is ending a Phase 3 clinical trial of its leukemia drug after a review showed more deaths in patients treated with the drug compared to the control group, the company announced this morning. Bothell, WA-based Seattle Genetics (NASDAQ: [[ticker:SGEN]]) says the decision to end the trial follows a discussion with the independent data … Continue reading “SeaGen Ends One Leukemia Drug Trial, Stops Enrolling Three Others”
Facebook Rule Change Inspires New Path for Video Ad Startup Waymark
The last time we checked in with serial entrepreneur Nathan Labenz, it was 2014 and he had just won the Detroit edition of Steve Case’s Rise of the Rest pitch competition. The digital advertising venture he was working on then, which was called SocialProof, has changed course. Now called Waymark, Labenz’s 22-person company has relaunched … Continue reading “Facebook Rule Change Inspires New Path for Video Ad Startup Waymark”
Startups: Make Your Predictions for a Free Ticket to IMPACT on 6/22
In a few days Xconomy will put on a new type of event called IMPACT: Innovation that Matters. The conference will focus on how technology leaders can make a real difference in society. Thanks to our generous sponsors, we’re excited to announce we have a new block of 25 complimentary tickets to give entrepreneurs in … Continue reading “Startups: Make Your Predictions for a Free Ticket to IMPACT on 6/22”
Startup Pioneers EV-to-Grid Technology in Pilot at UC San Diego
Nuvve, a San Diego cleantech startup, has begun a pilot project with UC San Diego that is intended to demonstrate the feasibility of using electric vehicles as a kind of collective energy storage reservoir for the power grid. After securing a $4.2 million grant from the California Energy Commission this week, Nuvve and UC San … Continue reading “Startup Pioneers EV-to-Grid Technology in Pilot at UC San Diego”
Axcella Names Tony Tramontin Chief Scientific Officer
Tony Tramontin is joining Axcella to become the Cambridge, MA, biotech’s chief scienfitic officer and senior vice president of research and development. Tramontin comes to Axcella from the McKinsey & Company, where he was a partner in the consulting companys global healthcare practice. Before McKinsey, he was an experimental neuroscientists at The Rockefeller University and … Continue reading “Axcella Names Tony Tramontin Chief Scientific Officer”
Regulus Promotes Mark Deeg to Chief Medical Officer
Mark Deeg has been promoted to chief medical officer of Regulus Therapeutics (NASDAQ: [[ticker:RGLS]]), a San Diego-based biotech. Deeg joined Regulus in April as vice president of translational medicine. Before starting at Regulus, he was chief medical officer of The Chorus Group, an autonomous early drug development unit of Eli Lilly (NYSE: [[ticker:LLY]]). Deeg’s promotion … Continue reading “Regulus Promotes Mark Deeg to Chief Medical Officer”
Interoperability, Drones, Tech Hubs & More: This Week’s WI Watchlist
Stay current on news from Wisconsin’s innovation community with these recent headlines. —The Milwaukee Journal Sentinel published an in-depth report on electronic patient health records interoperability, or the ability of different hospitals and clinics to exchange patient data. Ninety-six percent of hospitals now use electronic health records, the newspaper reported, but the industry still has … Continue reading “Interoperability, Drones, Tech Hubs & More: This Week’s WI Watchlist”
Seattle Week In Review: The Whole Everything Store, Yes, All of It
In 20 years, which of these two Jeff Bezos-related announcements this week will have had a bigger impact: The $13.7 billion deal for Amazon (NASDAQ: [[ticker:AMZN]]) to acquire high-end grocer Whole Foods Market (NASDAQ: [[ticker:WFM]]) or Bezos’ stepped-up philanthropic ambitions, indicated by a tweet Thursday requesting ideas for how to give away his money ($84.8 … Continue reading “Seattle Week In Review: The Whole Everything Store, Yes, All of It”
“Five Questions For …” Houston Technology Center’s Deborah Mansfield
Houston—Before Deborah Mansfield joined the Houston Technology Center, she was a bench scientist working in genetics and a grants manager at the University of Texas MD Anderson Cancer Center. Those positions, along with an MBA earned during weekend classes and a hands-on education of “the ABCs of business” at a Houston retailer, together give Mansfield … Continue reading ““Five Questions For …” Houston Technology Center’s Deborah Mansfield”
Bill Gates Backs Fourth Metamaterials Spinout, Pivotal Commware
Pivotal Commware, a year-old metamaterials startup built inside patent licensing and invention business Intellectual Ventures, has raised $17 million from investors including Bill Gates. If that sounds familiar, it should. Pivotal is the fourth Gates-backed company to spin out of Intellectual Ventures armed with software-driven radio-wave bending metamaterials technology. Like its sister companies in satellite … Continue reading “Bill Gates Backs Fourth Metamaterials Spinout, Pivotal Commware”
Xconomy Impact Tackles Big Questions in Tech and Society Next Thursday
Paul English, Katie Rae, Steve Papa, Sophie Vandebroek, Sandy Pentland, and Jodi Goldstein. Those are just a few of the technology leaders headlining our signature June event next Thursday. Collectively they represent some of the biggest names in innovation: MIT, Harvard, Kayak, Endeca, Xerox, IBM, and newer entrants like The Engine, Lola, and Parallel Wireless. … Continue reading “Xconomy Impact Tackles Big Questions in Tech and Society Next Thursday”
Uber’s Week: Kalanick Takes Leave As Board Tackles Ailing Workplace Culture
The chain of events set off in February when a former Uber engineer’s blog post about sexual harassment went viral reached a dramatic juncture this week as CEO Travis Kalanick agreed to take an indefinite leave of absence, and his board accepted sweeping recommendations to change the company’s frat house-style workplace culture. The company Kalanick … Continue reading “Uber’s Week: Kalanick Takes Leave As Board Tackles Ailing Workplace Culture”
U-M Steps Up Pace, Breadth of Detroit Research Collaborations
At the end of the school year this spring, the University of Michigan held an event in Detroit to celebrate the various learning and research initiatives it has underway in the city. Called “um3detroit,” the event’s name was meant in part to highlight the university’s Third Century program, which invested $25 million to encourage faculty … Continue reading “U-M Steps Up Pace, Breadth of Detroit Research Collaborations”
Bio Roundup: Trumpcare Is Mean, SCOTUS Says Go, Merck’s Myeloma No
What exactly does the American Health Care Act, the Republican proposal to replace Obamacare, currently look like? Few people know, because the Senate version is being negotiated behind closed doors in Washington D.C. without any public hearings. We do know President Trump now thinks the version of the AHCA that squeaked through the House is … Continue reading “Bio Roundup: Trumpcare Is Mean, SCOTUS Says Go, Merck’s Myeloma No”
Fiserv Gains Payments Tech, Global Reach in $89M Deal for Monitise
In a potential sign that mobile payments technology may not be living up to its early promise, Brookfield, WI-based financial IT vendor Fiserv is acquiring a U.K. software maker that has struggled in recent years. Fiserv (NASDAQ: [[ticker:FISV]]) announced earlier this week it has agreed to pay about £70 million—or $89.4 million, at the current … Continue reading “Fiserv Gains Payments Tech, Global Reach in $89M Deal for Monitise”
Boston Tech Watch: GE, Optimus Ride, Tufin, Zaius, Dispatch & More
This week in Boston tech, we’re tracking the latest moves by General Electric (in addition to its big CEO transition), Boston’s efforts to become a hub for driverless car development, the latest Boston-Israel business connection, and more. Read on for details. —It was a busy week for GE (NYSE: [[ticker:GE]]). The giant Boston-based corporation named … Continue reading “Boston Tech Watch: GE, Optimus Ride, Tufin, Zaius, Dispatch & More”
Checkmate Pharma Clinches $27M for More Studies in Skin Cancer
Checkmate Pharmaceuticals believes its approach to cancer treatment can make a certain type of immunotherapy work better, and it now has $27 million in additional funding to help build that case. F-Prime Capital Partners, a new investor, led the Series B round of investment announced Thursday. Sofinnova Partners and venBio, who had invested in Cambridge, … Continue reading “Checkmate Pharma Clinches $27M for More Studies in Skin Cancer”
UT Health Cancer Center Hires Rare Blood Cancer Expert as Director
San Antonio — The University of Texas Health Science Center at San Antonio has hired a new director for its UT Health Cancer Center: Ruben Mesa, a researcher who has lengthy experience testing treatments for rare blood cancers. Mesa is joining the UT Health Cancer Center from the Mayo Clinic Cancer Center in Arizona, where he … Continue reading “UT Health Cancer Center Hires Rare Blood Cancer Expert as Director”
Boston Event Showcases Entrepreneurs of Color: Photo Slideshow
When Ed Gaskin visited a high school class in Boston where students—many of them people of color—were writing code to create video games, he asked them if they had ever considered becoming an entrepreneur. Each student said no, he says. Gaskin is the executive director of Greater Grove Hall Main Streets, a nonprofit economic development … Continue reading “Boston Event Showcases Entrepreneurs of Color: Photo Slideshow”
Boston’s PillPack Launches Software to Automate Prescription Process
It’s undeniable that managing medications can be a burden, especially if you’re prescribed to take multiple drugs every day. PillPack, a three-year-old startup based in the Boston area that mails prescription medications to patients across the country, has built software that it says makes the process of filling prescriptions, monitoring insurance claims, and eases communications … Continue reading “Boston’s PillPack Launches Software to Automate Prescription Process”
Ur Hired: Canvas Helps Recruiters Interview Job Applicants Via Text
In the past decade, there has been plenty of handwringing in places like Indiana over the droves of talented young people leaving the state after graduation. Tech talent, in particular, tends to flee for the coasts as fast as possible, so it can be a challenge for homegrown companies to attract the attention of job … Continue reading “Ur Hired: Canvas Helps Recruiters Interview Job Applicants Via Text”
Changes at UC San Diego Emphasize New Role as “Innovation Engine”
A new program intended to teach engineering and business students how to drive innovations from concept to commercialization reflects a new imperative at UC San Diego. The business of tech transfer, which generates revenue by licensing technologies invented at UC San Diego, is giving way to a broader mission for the university as an engine … Continue reading “Changes at UC San Diego Emphasize New Role as “Innovation Engine””
Foxconn Mulls Building Plant in WI That Could Employ Thousands
Foxconn, the world’s biggest contract electronics manufacturer, is considering building a plant in Wisconsin, the Associated Press reported Wednesday. Taiwan-based Foxconn is perhaps best known for its factories in Shenzhen, China, where it assembles iPhones and other personal computing devices sold by Apple (NASDAQ: [[ticker:AAPL]]). Other customers of Foxconn include BlackBerry, Dell, Nintendo, and Sony … Continue reading “Foxconn Mulls Building Plant in WI That Could Employ Thousands”
Patient Network Group Says Majority of Members Want To Keep Obamacare
A U.S. patient networking group called PatientsLikeMe has dipped its toe in the waters of public opinion, asking its members what they think of the healthcare policy fight. There are many caveats, but the numbers trend in the same direction that other national polls have found—a shift towards more acceptance of the Affordable Care Act, … Continue reading “Patient Network Group Says Majority of Members Want To Keep Obamacare”
Athenex IPO Raises $66M to Fund Clinical Trials for Cancer Drugs
The IPO window is still open for clinical-stage drug companies, and Athenex is now the latest one to pass through it. The cancer drug developer raised $66 million through a public stock offering on Wednesday, funding that the company will devote mostly to a pair of cancer drugs in late-stage clinical development. Athenex priced its … Continue reading “Athenex IPO Raises $66M to Fund Clinical Trials for Cancer Drugs”
Sqrrl Sniffs Out $12.3M to Push “Threat Hunting” Software
[Updated 6/14/17, 3:58 pm. See below.] Sqrrl has grabbed $12.3 million from investors to help drive more sales of its software that aims to detect cyber attackers. The Series C funding round was led by Spring Lake Equity Partners, whose partner Jeff Williams will join Sqrrl’s board. Other investors in the round include previous Sqrrl … Continue reading “Sqrrl Sniffs Out $12.3M to Push “Threat Hunting” Software”
Bowery Picks Up $20M to Expand Indoor Farming in the U.S. and Beyond
Indoor farming is catching on in more urban areas, giving city dwellers more choices for locally grown produce. Agtech startup Bowery aims to make its leafy greens part of that retail mix, and it has raised $20 million in new funding to support its expansion. General Catalyst and GGV Capital co-led the Series A round, … Continue reading “Bowery Picks Up $20M to Expand Indoor Farming in the U.S. and Beyond”
Data Collective, Other Top AI VCs, Pour $102M Into Element AI Series A
[Updated 6/14/17, 1:45 pm. See below.] Canada’s Element AI, publicly launched in October, announced today it has raised US$102 million in an outsized Series A financing round seen by experts as a sign that artificial intelligence is ready to solve real-world business problems. The young Montreal-based company, whose staff of AI engineers collaborates with academic … Continue reading “Data Collective, Other Top AI VCs, Pour $102M Into Element AI Series A”
Flagship Adds Veteran J.P. Morgan Banker, Berenson, as Exec Partner
Cambridge, MA-based Flagship Pioneering has named Stephen Berenson, the former vice chairman of investment banking at J.P. Morgan, as an executive partner. Berenson serve on the boards of certain select Flagship startups, and help the firm’s companies grow their networks and raise cash.
MI Roundup: Court Innovations, A2 Tech Trek, SoccerStub, and More
Here’s a look at recent innovation news from around the state: —Ann Arbor-based Court Innovations, a startup spun out of the University of Michigan’s law school, has closed on a $1.8 million funding round. The round was led by Belle Michigan Fund, with contributions from Northern Michigan Angels, Michigan Angel Fund, U-M’s student-led Social Venture Fund, … Continue reading “MI Roundup: Court Innovations, A2 Tech Trek, SoccerStub, and More”
Xealth Raises $8.5M to Help Doctors Prescribe Digital Health Apps
With more digital health apps and devices popping up each week, the debate continues about their effectiveness at improving health. But there’s another big problem for doctors and hospitals that want their patients to use the apps that do work: prescribing them. Xealth, a cloud-based software startup, aims to make prescribing a diabetes management app as … Continue reading “Xealth Raises $8.5M to Help Doctors Prescribe Digital Health Apps”
Report: Wisconsin Startups Raised $276M in 2016, Up From 2015 Total
Venture capital funds and angel investors pumped more than $276 million into Wisconsin-based startups in 2016. That was a 6 percent increase over the previous year, when early stage companies in the state raised $209 million; however, the 2016 total was lower than the $346 million that Wisconsin startups raised in 2014. Those figures and … Continue reading “Report: Wisconsin Startups Raised $276M in 2016, Up From 2015 Total”
Pulse@MassChallenge Spurs Deals in Digital Health Lab’s 1st Session
The refrain among digital health startups is it can be difficult and time-consuming to convince hospitals and other healthcare organizations to try out their products, let alone buy them. Pulse@MassChallenge, a new Boston “lab” dedicated to supporting digital health ventures, matches startups with partner organizations—think hospitals, insurers, larger tech companies, nonprofits, and government entities—to collaborate … Continue reading “Pulse@MassChallenge Spurs Deals in Digital Health Lab’s 1st Session”
San Antonio’s Xenex Debuts Hospital-Cleaning “Pod” After Adding $38M
San Antonio — Xenex Disinfection Services, a healthcare company that raised $38 million in February, is now selling a new device for its machine that rids hospital rooms of infection-causing bacteria and viruses: a portable “pod” in which equipment can be disinfected. Xenex’s primary product is a technology called the LightStrike Robot that uses pulses … Continue reading “San Antonio’s Xenex Debuts Hospital-Cleaning “Pod” After Adding $38M”