Paul Clancy, CFO of Biogen (NASDAQ: [[ticker:BIIB]]) for the last 10 years, is moving to Alexion Pharmaceuticals (NASDAQ: [[ticker:ALXN]]) to become the top financial executive of the New Haven, CT, drug developer. Before joining Cambridge, MA-based Biogen, Clancy held various executive positions at PepsiCo (NYSE: [[ticker:PEP]]). Alexion says Clancy will start at the company on … Continue reading “Biogen CFO Paul Clancy to Take Executive Post at Alexion Pharma”
Amgen’s Heart Data Don’t Impress Drug-Price Evaluation Group
The drug-price evaluator that the drug companies love to hate has weighed in again, this time casting a skeptical eye on the price of a next-generation heart medicine from Amgen (NASDAQ: [[ticker:AMGN]]). The group known as ICER, which stands for Institute for Clinical and Economic Review, released a report today that said Amgen’s evolocumab (Repatha) … Continue reading “Amgen’s Heart Data Don’t Impress Drug-Price Evaluation Group”
Washington State Program Could Be Model for Trump Apprenticeship Push
[Updated 6/13/17, 10:25 pm PT. See below.] President Trump, once the star of reality television show “The Apprentice,” is pushing for apprenticeships as a way to connect more people with some 6 million unfilled jobs in fields such as healthcare and information technology. A program from Washington state’s technology industry is doing just that, and planning to … Continue reading “Washington State Program Could Be Model for Trump Apprenticeship Push”
Texas Roundup: CancerGene, UT System, Blair Garrou, GE & Baker Hughes
Let’s get caught up with the latest innovation news from Xconomy Texas. —Austin AI company Cognitive Scale announced Tuesday it has raised $15 million, bringing the total raised for the three-year-old company to $50 million. Investors include Norwest Venture Partners, Intel Capital, Microsoft Ventures, The Westly Group, and USAA. Akshay Sabhikhi, Cognitive Scale’s CEO, says … Continue reading “Texas Roundup: CancerGene, UT System, Blair Garrou, GE & Baker Hughes”
Alexandria Debuts NY’s Latest Bio Incubator With 13 Startups in Tow
A new startup incubator has just opened in Manhattan this morning, adding to a growing list of facilities meant to help support seedling New York City biotechs. LaunchLabs, first announced by Alexandria Real Estate Equities a year ago, officially opened its doors and revealed the 13 startups that will grow there. LaunchLabs is a 15,000-square-foot … Continue reading “Alexandria Debuts NY’s Latest Bio Incubator With 13 Startups in Tow”
AquaBounty Lines Up First U.S. Fish Farm With Deal for Indiana Site
[Corrected, 6/16/17, 12:03 pm. See below.] When salmon from AquaBounty Technologies reach grocery stores and restaurants, some of them will come from America’s heartland. AquaBounty (NASDAQ: [[ticker:AQB]]) has agreed to pay $14 million in cash to acquire some of the assets of Bell Fish Company, including that company’s fish farm in Albany, IN. The deal … Continue reading “AquaBounty Lines Up First U.S. Fish Farm With Deal for Indiana Site”
Accolade A.I. Engine Aims to Personalize Healthcare Choices
This story is part of an ongoing series on A.I. in healthcare. Accolade, a healthcare concierge company, has built what it’s calling an intelligence engine to do things like suggesting when an individual should seek a second opinion about a planned surgical procedure. The goal is to make interacting with health insurance benefits more like … Continue reading “Accolade A.I. Engine Aims to Personalize Healthcare Choices”
Procrastinator’s Special Ending—Grab Your Ticket to IMPACT, June 22
Next week Xconomy will host its newest event, “IMPACT: Innovation That Matters”—and we’re offering you a chance to save $130 if you register by tomorrow. The afternoon conference features spotlight talks, fireside chats, and panel discussions that will address how top names in technology and innovation are trying to make a real impact on society. … Continue reading “Procrastinator’s Special Ending—Grab Your Ticket to IMPACT, June 22”
Boston Leaders Expect New GE CEO Flannery to Stay on Immelt’s Path
Jeff Immelt has struggled to please Wall Street during his nearly 16 years as General Electric’s chief executive. The question now is whether his successor, John Flannery, can deliver on Immelt’s vision while also blazing new trails and reinvigorating the company’s stock performance. Flannery, named the next CEO of GE on Monday, will spend the … Continue reading “Boston Leaders Expect New GE CEO Flannery to Stay on Immelt’s Path”
In a Myeloma Setback, Merck Halts Studies Due to Patient Deaths
[Corrected, 11:10 a.m. ET, see below] Immunotherapy drugs known as checkpoint inhibitors have started to change how a variety of cancers are treated, but they have yet to break through in multiple myeloma, a progressive cancer of the bone marrow. There was a setback on that front today. Merck (NYSE: [[ticker:MRK]]) Monday afternoon paused enrollment … Continue reading “In a Myeloma Setback, Merck Halts Studies Due to Patient Deaths”
Latest Class of Digital Health Startups Debuts at TMCx Accelerator
Houston—Around 600 entrepreneurs, investors, and others from Houston’s venture and healthcare communities turned out for the TMCx accelerator’s digital health demo day Thursday—many for the first time. Sunil Sharma, CEO of biomedical equipment seller Sunbelt Medical in Houston, was one of those. He said he’s been interested in making healthcare more efficient and cost-effective since … Continue reading “Latest Class of Digital Health Startups Debuts at TMCx Accelerator”
Medical Robotics Firm Myomo Begins Trading on NYSE After Unusual IPO
Medical device maker Myomo began trading Monday on the New York Stock Exchange’s small-cap exchange, after taking an unusual path to the public stock markets. Cambridge, MA-based Myomo said Friday it raised $5 million by selling 665,498 shares of its common stock to the public at $7.50 per share. Myomo was selling up to 2 … Continue reading “Medical Robotics Firm Myomo Begins Trading on NYSE After Unusual IPO”
As Businesses Get More Social, Wistia Moves Into Video Editing
Quickly creating and sharing short, personal videos has become a popular method of communication between friends and family, thanks to the rise of Snapchat and other social media apps. Wistia, a Cambridge, MA-based video-hosting company for businesses, sees that same desire growing among business professionals. “They’re trying to create more of that human connection that … Continue reading “As Businesses Get More Social, Wistia Moves Into Video Editing”
Five Questions For … Mercury Fund Co-Founder Blair Garrou
Houston—Blair Garrou is the kind of guy who prefers juggling a lot of balls at once. When oil prices cratered in the 1990s, business slowed down at his employer, a mergers and acquisitions firm. “I had some time on my hands and there was this new organization called the Houston Technology Center so I started … Continue reading “Five Questions For … Mercury Fund Co-Founder Blair Garrou”
GE CEO Immelt to Step Down, GE Healthcare Leader Taking Over
General Electric CEO Jeff Immelt will step down Aug. 1 and be replaced by John Flannery, the head of GE’s healthcare business, the company announced today. The move comes as GE goes through some major changes, including relocating its global headquarters from Fairfield, CT, to Boston, and attempting to transform its business (and its reputation) … Continue reading “GE CEO Immelt to Step Down, GE Healthcare Leader Taking Over”
Last Chance for “What’s Hot in Cancer Immunotherapy 2017” Tickets
Registration is closing soon for Xconomy’s “What’s Hot in Cancer Immunotherapy 2017.” It’s all happening on Wednesday, June 14, at the Fred Hutchinson Cancer Research Center in Seattle. We have lined up some of the most forward-thinking entrepreneurs, investors, and innovators in cancer immunotherapy. Join us for an afternoon of spotlight talks, chats, and panel … Continue reading “Last Chance for “What’s Hot in Cancer Immunotherapy 2017” Tickets”
Regulus Dumps Two Drugs, AstraZeneca Sends Back Another, Shares Fall
It’s been a tough run for Regulus Therapeutics, and things haven’t gotten any better this morning. Regulus is scrapping two programs, and AstraZeneca has kicked back a third drug to boot, sending Regulus shares down to their lowest levels ever. San Diego, CA-based Regulus (NASDAQ: [[ticker:RGLS]]) said this morning that it will stop development of … Continue reading “Regulus Dumps Two Drugs, AstraZeneca Sends Back Another, Shares Fall”
Dragonfly, Tyler Jacks’s Disney-Backed Startup, Gets $33M in Celgene Deal
Dragonfly Therapeutics, a stealthy startup formed by well-known cancer researchers on both coasts and backed by a high-powered group of family offices, has inked its first partnership. Celgene, of Summit, NJ, is paying Dragonfly $33 million up front for the chance to co-develop up to four blood cancer drugs. The deal is a modest bet … Continue reading “Dragonfly, Tyler Jacks’s Disney-Backed Startup, Gets $33M in Celgene Deal”
San Antonio Aims to Tap Into Air Force’s Prominence in Cybersecurity
San Antonio—Anyone who has heard of Lockheed Martin, General Dynamics, or Raytheon probably knows the federal government spends billions of dollars every year on defense. And while much of that funding goes toward buying missiles, planes, and ships, cybersecurity is gaining greater importance. President Trump’s budget proposal includes a $3 billion boost to cybersecurity funding … Continue reading “San Antonio Aims to Tap Into Air Force’s Prominence in Cybersecurity”
Exact, WARF, Murfie, Microbes, & More: This Week’s WI Watchlist
Keep up with the latest news from Wisconsin’s innovation community with these recent headlines. —Madison-based Exact Sciences (NASDAQ: [[ticker:EXAS]]), whose flagship product is a stool-based screening test for colorectal cancer, issued a recall of 15 pieces of equipment used to mix stool samples in preparation for testing at the company’s lab. According to the FDA, … Continue reading “Exact, WARF, Murfie, Microbes, & More: This Week’s WI Watchlist”
Seattle Week in Review: The A.I. Driver/Psychiatrist Will See You Now
If the TV show Frasier, which aired from 1993 to 2004, were rebooted and set in Seattle of, say, 2037, Dr. Frasier Crane would be an artificial intelligence avatar that would pick you up in a driverless, all-electric luxury sedan, and, after confirming your destination, inform you in an approximation of Kelsey Grammer’s dulcet tone: … Continue reading “Seattle Week in Review: The A.I. Driver/Psychiatrist Will See You Now”
Stratatech Starts Latest Study of Skin-Like Tissue in Burn Patients
Stratatech said this week that the first patient has been enrolled in a Phase 3 clinical trial of the cell-based regenerative skin tissue the company is developing. The aim of the study is to assess the safety and efficacy of StrataGraft, the company’s flagship skin replacement product, at coaxing the bodies of patients with burn … Continue reading “Stratatech Starts Latest Study of Skin-Like Tissue in Burn Patients”
Former Ariad Exec Santillana to Join Merrimack Pharmaceuticals
Sergio Santillana will become the next chief medical officer of Merrimack Pharmaceuticals (NASDAQ: [[ticker:MACK]]). Cambridge, MA-based Merrimack said that Santillana will start on June 12. Santillana most recently served as chief medical officer of Ariad Pharmaceuticals, a Cambridge company that was acquired by Japan-based Takeda Pharmaceutical earlier this year. His experience also includes posts at … Continue reading “Former Ariad Exec Santillana to Join Merrimack Pharmaceuticals”
AstraZeneca’s Zelenkofske Joins UniQure as Chief Medical Officer
Steven Zelenkofske is joining uniQure to become the company’s chief medical officer. He succeeds Christian Meyer, who had served as uniQure’s chief medical officer since 2013. Zelenkofske will be based in the Lexington, MA, offices of Netherlands-based uniQure. Zelenkofske was most recently an executive overseeing cardiovascular and metabolism therapeutics for AstraZeneca (NYSE: [[ticker:AZN]]). His experience … Continue reading “AstraZeneca’s Zelenkofske Joins UniQure as Chief Medical Officer”
High-Net-Worth Michiganders: Time to “Get Off the Dime,” Brophy Says
When the Michigan Venture Capital Association (MVCA) unveiled the findings in its 2017 annual report at a public event in April, there was a lot to celebrate: a 48 percent increase in venture-backed startups over the past five years; every dollar invested by a Michigan firm attracting $4.61 in out-of-state capital; and a total of … Continue reading “High-Net-Worth Michiganders: Time to “Get Off the Dime,” Brophy Says”
Getting Women On Boards: Three Ways to Increase the Numbers
The hot topic of getting more qualified women on corporate boards continues unabated. Recent statistics show how companies with women prominently serving in such capacities experience higher-than-average financial performance. A major investment group even declared earlier this year that it would push to get women on the boards of the companies in their portfolio. Yet … Continue reading “Getting Women On Boards: Three Ways to Increase the Numbers”
With GreatCall Deal, GTCR Looks to Expand Healthtech for Boomers
With this week’s buyout of GreatCall, the Chicago-based private equity firm GTCR just placed a big bet that healthtech for the aging wave of baby boomers will be a big business. GreatCall operates a virtual telecommunications network that provides healthtech products and services for more than 800,000 older consumers throughout the United States. The company, … Continue reading “With GreatCall Deal, GTCR Looks to Expand Healthtech for Boomers”
Robot Reshuffle: Alphabet Sells Boston Dynamics & Schaft to SoftBank
In a deal that was a long time coming, Google’s parent company Alphabet has sold robotics firms Boston Dynamics and Schaft to Japanese tech giant SoftBank. Terms of the deal were not disclosed. Boston Dynamics was rumored to be on the market for the past year, with potential suitors including Toyota and Amazon. The robotics … Continue reading “Robot Reshuffle: Alphabet Sells Boston Dynamics & Schaft to SoftBank”
Bio Roundup: ASCO Digested, Juliet Unveiled, PTC Slated & More
The New York Times Magazine wrote a few weeks ago about the extraordinary metabolic changes in a python after it gulps down a 50,000 calorie meal. The biomedical world was like a postprandial python this week; after extending its maw around the supersized meal of news and data from the American Society for Clinical Oncology … Continue reading “Bio Roundup: ASCO Digested, Juliet Unveiled, PTC Slated & More”
Boston Tech Watch: Uber, Causeway Media, Cure Forward, Tive & More
This week in Boston tech, we’re tracking a second fund for a venture capital firm co-led by the co-owner of the Boston Celtics, a high-profile hire for Uber, a new cybersecurity startup, and the end of the road for a digital health company. Read on for details. —Causeway Media Partners raised $207.3 million for its … Continue reading “Boston Tech Watch: Uber, Causeway Media, Cure Forward, Tive & More”
Judge Upholds $234M Award to WARF in Apple Patent Case
A federal judge on Tuesday rejected Apple’s request to overturn a jury’s finding that the company must pay $234 million in damages to the Wisconsin Alumni Research Foundation (WARF) for infringing on a patent held by the foundation, according to a statement from WARF and multiple news reports. WARF manages patents and licensing of intellectual … Continue reading “Judge Upholds $234M Award to WARF in Apple Patent Case”
DimensionalMechanics Joins Rush to Bring A.I. to All
When he was 13, Rajeev Dutt, inspired by science-fiction authors such as Isaac Asimov, envisioned a world with ubiquitous artificial intelligence. His startup, DimensionalMechanics, is one of many companies large and small trying to deliver on that vision. The company has built a set of software tools meant to make it easier for non-experts to … Continue reading “DimensionalMechanics Joins Rush to Bring A.I. to All”
Athenahealth Gets Personal Assistant, A.I. With $63M Praxify Buyout
Athenahealth is further building out its suite of applications and programs that help physicians and patients interact with electronic medical records with its largest acquisition since 2013, announcing today that it has bought Palo Alto, CA-based Praxify Technologies for $63 million. With Praxify, Watertown, MA-based Athenahealth (NASDAQ: [[ticker:ATHN]]) is getting a company that has built … Continue reading “Athenahealth Gets Personal Assistant, A.I. With $63M Praxify Buyout”
Grubhub Gobbles Foodler as Online Food-Ordering Sector Consolidates
The shakeout of the crowded field of online food-ordering and delivery companies continues. Chicago-based Grubhub (NYSE: [[ticker:GRUB]]) has signed an agreement to acquire Boston-based rival Foodler. Terms of the all-cash transaction weren’t disclosed. The deal will add more than $80 million of annualized gross food sales to Grubhub’s business in 2017, according to a press … Continue reading “Grubhub Gobbles Foodler as Online Food-Ordering Sector Consolidates”
Eli Lilly Fronts $55M for Rights to KeyBioscience’s Diabetes Drugs
With competition threatening to chip away at its diabetes stronghold, Eli Lilly is shoring up its pipeline with a deal that gives the company access to a potential new class of diabetes drugs. Indianapolis-based Lilly (NYSE: [[ticker:LLY]]) has agreed to pay $55 million up front to KeyBioscience in exchange for rights to compounds in various … Continue reading “Eli Lilly Fronts $55M for Rights to KeyBioscience’s Diabetes Drugs”
Microsoft Confirms Acquisition of Cybersecurity Firm Hexadite
Microsoft announced on Thursday that it has signed an agreement to purchase Boston-based cybersecurity startup Hexadite. The acquisition hasn’t closed yet. The deal was first reported on May 24 by Israeli publication Calcalist, but Microsoft didn’t confirm the acquisition until today’s announcement. No terms were disclosed in the news release, but Calcalist previously reported the price … Continue reading “Microsoft Confirms Acquisition of Cybersecurity Firm Hexadite”
LogMeIn, Riding Stock Growth After Citrix Deal, Launches CRM Product
LogMeIn today introduced a new digital customer service product, continuing the Boston-based company’s efforts to expand its offerings beyond its long-time calling card of remote computer access and troubleshooting software. The announcement marks LogMeIn’s first significant product launch since its $1.8 billion merger with the GoTo business of California rival Citrix Systems, a spokeswoman says. … Continue reading “LogMeIn, Riding Stock Growth After Citrix Deal, Launches CRM Product”
With Ties to Thiel and Musk, Fintech Startup Addepar Adds $140M
Addepar, a wealth management software company co-founded in 2009 by Palantir Technologies co-founder Joe Lonsdale, announced today it has raised $140 million to expand its services to investors and their advisors. It’s a big round for a financial tech company, even for Silicon Valley. The Mountain View, CA-based company’s Series D financing round was co-led … Continue reading “With Ties to Thiel and Musk, Fintech Startup Addepar Adds $140M”
Harvard Biotech Spinout Lands $10M to Make Platelets From Stem Cells
If you’ve donated blood, you probably received a follow-up message asking you to consider a platelet donation. Donation centers must constantly replenish their blood supplies, but the need for platelets is particularly acute. Compared to other components of blood, platelets are fragile and short lived, which puts high demand on the small supply of these … Continue reading “Harvard Biotech Spinout Lands $10M to Make Platelets From Stem Cells”
Northern Star Fire’s E-compass Wins Governor’s Business Plan Contest
According to the U.S. Fire Administration, 1,002 firefighters died while on duty between 2006 and 2015. Jeff Dykes, a fire captain and entrepreneur, believes some of those fatalities could have been avoided if the firefighters had been able to determine what direction they were facing while inside of burning buildings. Dykes is the founder of Eau Claire, … Continue reading “Northern Star Fire’s E-compass Wins Governor’s Business Plan Contest”
States Seek Slice of $7 Trillion Autonomous Vehicle Industry
As U.S. states and cites vie to capture some of the trillions of dollars of economic activity expected to flow from a shift to autonomous vehicles in the coming decades, Washington on Wednesday joined about two dozen states that have paved the way for testing driverless cars. Washington Gov. Jay Inslee directed relevant state agencies … Continue reading “States Seek Slice of $7 Trillion Autonomous Vehicle Industry”
Exact Sciences To Sell 7 to 8 Million Shares in Stock Offering
Exact Sciences today announced that it is selling 7 million shares of common stock at $35 per share, a 4.5 discount off of Tuesday’s closing price. The offering is underwritten by Bank of America Merrill Lynch, Jefferies, and Robert W. Baird & Co., which have the option to purchase up to 1.05 million additional shares. … Continue reading “Exact Sciences To Sell 7 to 8 Million Shares in Stock Offering”
San Antonio’s Geekdom Fund Adds to Investments With $20M Second Fund
San Antonio—The Texas IT-focused venture capital firm Geekdom Fund has closed a $20 million fund, which it started raising last year. The San Antonio venture firm was founded in 2014 by Michael Girdley, Don Douglas, Mike Troy, and Cole Wollak, and closed its first fund at $3.4 million in 2015. Geekdom Fund has always invested … Continue reading “San Antonio’s Geekdom Fund Adds to Investments With $20M Second Fund”
Coburn, Ex-cleantech Accelerator Founder, Joins Shell Tech Ventures
Houston—While leading the energy-focused Surge Accelerator, Kirk Coburn says he was never “behind the curtain” to truly understand how technology could help solve problems for major oil companies. “I was never inside to see how the soup’s being made,” he says. “I get that opportunity now. I’m part of the team.” The opportunity he’s alluding … Continue reading “Coburn, Ex-cleantech Accelerator Founder, Joins Shell Tech Ventures”
The Engine, Carbonite, Lola, and More: Here’s the Agenda for IMPACT
[Updated, 6/8/17 8:50am. See below] Hard to believe we are just over two weeks away from Xconomy’s big annual tech event in June. IMPACT will bring together leaders from New England’s technology and business community to discuss the future of their fields, but also issues of broader importance: things like influencing policy and making a … Continue reading “The Engine, Carbonite, Lola, and More: Here’s the Agenda for IMPACT”
Madison Startup Asto Tests Its CT Scanner on a Standing Horse
Asto CT, a Madison, WI-based startup developing a computed tomography (CT) device for performing scans of animals, has taken a major step forward this spring in its effort to commercialize its machine. The results could impact the field of CT technology for veterinarians and other specialists. In late April, one of the company’s scanners was … Continue reading “Madison Startup Asto Tests Its CT Scanner on a Standing Horse”
California’s Surf Air Acquires Dallas-Based Airline Company Rise
[Updated 6/7/17 12:21 pm. See below.] Dallas—Dallas-based aviation startup Rise has been acquired by Surf Air, a California airline membership company. Terms of the deal were not disclosed. Rise founder Nick Kennedy will remain with the company as president of the Texas region. [Updated to include comments from the CEO.]“Members loved what we were doing and wanted … Continue reading “California’s Surf Air Acquires Dallas-Based Airline Company Rise”
Grab Your Ticket for What’s Hot in Cancer Immunotherapy 2017 on June 14th
We are just a week away from “What’s Hot in Cancer Immunotherapy 2017”—and we’re offering you a chance to save $100. Join us for an afternoon of spotlight talks, fireside chats, and panel discussions that will delve into a variety of cancer immunotherapy topics. It all takes place on Wednesday, June 14, at Fred Hutchinson … Continue reading “Grab Your Ticket for What’s Hot in Cancer Immunotherapy 2017 on June 14th”
“It’s Shame On Us If We Blow It”: Highlights From NY Seizes the Momentum
Mike Foley, a drug industry veteran and director of the Tri-Institutional Therapeutics Discovery Institute, has a pointed message for the New York life sciences industry: Don’t waste the moment. Changing the course of New York biotech has been a saga that dates back to the 1990s, and as Xconomy has detailed, progress has been made … Continue reading ““It’s Shame On Us If We Blow It”: Highlights From NY Seizes the Momentum”
Quantifi Launches With A.I. Approach to Digital Marketing Strategy
A new marketing tech firm called Quantifi launched today out of startup studio High Alpha, complete with $2 million in seed funding from a handful of investors. The Indianapolis-based company seeks to offer digital marketers a research and development platform where they can test new products and strategies before committing to a specific kind of campaign. … Continue reading “Quantifi Launches With A.I. Approach to Digital Marketing Strategy”