Placed, a Seattle company that tracks traffic to physical locations using mobile devices to help measure the offline impact of online advertising, has been acquired by camera company Snap Inc. (NYSE: [[ticker:SNAP]]), the maker of messaging app Snapchat. Bloomberg, citing unnamed sources, pegged the value of the deal at $125 million with stock payouts that … Continue reading “Snap Buys Placed, Maker of Ad Attribution Technology”
Lung Therapeutics Breathes In $14M Investment for Respiratory Drugs
Austin—Lung Therapeutics has closed a $14.3 million round of investment that the Austin, TX-based company will use to continue a clinical trial testing its lead drug, a treatment for potentially lethal complications of pneumonia. Bios Partners, a Fort Worth, TX-based private equity firm, led the Series B round of investment. Earlier investor UT Horizon Fund … Continue reading “Lung Therapeutics Breathes In $14M Investment for Respiratory Drugs”
Freight Farms Lands $7.3M as Agriculture Meets Data & Automation
Investors have planted $7.3 million in Freight Farms to help the Boston-based startup bring its micro-farms to more places around the globe—and potentially even beyond. The investors in the Series B round include return backer Spark Capital, also based in Boston. The news was first reported by the Wall Street Journal on Monday. Freight Farms’ … Continue reading “Freight Farms Lands $7.3M as Agriculture Meets Data & Automation”
ASCO Roundup: Checkpoint Combos, Tumor Profiling, Financial Toxicity
[Note: Ben Fidler coauthored this report.] The American Society of Clinical Oncology conference is wrapping up, and the closely watched medical meeting-slash-hype machine produced its usual array of data. There were a few big business-focused “horse race” stories—one company’s stumble was another company’s gain—but much of the news consisted of mid-trial updates that companies produce … Continue reading “ASCO Roundup: Checkpoint Combos, Tumor Profiling, Financial Toxicity”
Lyft, NuTonomy Team Up on Self-Driving Cars as Alliances Proliferate
As companies rev up their work on self-driving vehicles, they’re increasingly forming alliances with each other to help deliver on the technology’s potential—and fend off competitors. The latest example is a partnership announced Tuesday between Lyft, the San Francisco-based ride-hailing app company, and NuTonomy, a Boston-based developer of software for driverless vehicles. The research and … Continue reading “Lyft, NuTonomy Team Up on Self-Driving Cars as Alliances Proliferate”
Cardigan, Younkle’s Latest Startup, Seeks to Digitize Business Cards
First, Matt Younkle helped customers digitize their music collections. Now, the serial entrepreneur is working on technology to digitize the age-old ritual of swapping business cards with new acquaintances. Madison, WI-based Cardigan has developed software allowing people to exchange contact information using their smartphones. The company’s mobile app became available on the App Store and … Continue reading “Cardigan, Younkle’s Latest Startup, Seeks to Digitize Business Cards”
Austin’s Digital Pharmacist Receives $6.5M for Healthcare Software
[Updated 6/6/17 12:48 pm. See below.] Austin—Digital Pharmacist has raised $6.5 million in a Series B round of funding. [More details on the company and comment from the CEO added.]The financing was led by Activate Venture Partners in New York and Austin, TX-based LiveOak Venture Partners and brings the total funds raised by the company to … Continue reading “Austin’s Digital Pharmacist Receives $6.5M for Healthcare Software”
Citing Losses, Fare Quits Austin as Uber, Lyft Resume Service
Austin—The return of Uber and Lyft to Austin has claimed its first casualty. Fare began operating last summer, shortly after the ride-hailing giants quit the Texas capital following voters’ approval of stringent rules that the companies were against. Late on Monday, Fare announced in an e-mail to customers that “we are unable to endure the … Continue reading “Citing Losses, Fare Quits Austin as Uber, Lyft Resume Service”
Ex-Inotek Exec to Lead Flex Pharma as Westphal Steps Down
Christoph Westphal has stepped down as the CEO of Flex Pharma (NASDAQ: [[ticker:FLKS]]). William McVicar, a former Inotek Pharmaceuticals executive and currently Flex’s president of R&D, will serve as Flex’s interim CEO. Westphal, who helped form the company, will remain chairman.
Why Pay Retail? Griddy Says It Offers Wholesale Electricity Prices
Houston—Griddy wants to bring the Costco model to retail energy: Pay a membership fee; get wholesale prices for electricity. “Griddy, through the mobile app membership, connects the home right to the wholesale price,” says Gregory Craig, Griddy’s CEO. “There’s no margin, no surprises, no hidden markups.” Craig claims that Griddy can provide retail power at … Continue reading “Why Pay Retail? Griddy Says It Offers Wholesale Electricity Prices”
Cloud Security Company Netskope Raises $100M From Old and New VCs
Venture capital firms are cash-rich, but they’ve been carefully meting out their funds since last summer. Cybersecurity companies, however, have a better chance to build up their troves of capital due to the drumbeat of cyberattack news that’s boosting business demand for their services. Netskope, a security company that specializes in protecting data in Web-based … Continue reading “Cloud Security Company Netskope Raises $100M From Old and New VCs”
Tulip Downloads $13M Round, Led by NEA, for Manufacturing Apps
Robots and other automation technologies are a growing presence on factory floors, but there are still opportunities to equip human workers with new tools to help them perform better. That’s part of the pitch from Tulip, a startup with roots at MIT, which today announced it received a $13 million investment to help it sell … Continue reading “Tulip Downloads $13M Round, Led by NEA, for Manufacturing Apps”
BridgeCare Finance Aims to Ease Burden of Paying for Child Care
Quality child care—an essential foundation for children, with a lasting benefit—can cost as much as or more than college tuition, about $17,700 a year in Washington state, on average. But the expense also comes at a time of life when many parents are still relatively early in their careers, stretching their budgets, and often forcing … Continue reading “BridgeCare Finance Aims to Ease Burden of Paying for Child Care”
Facing Cash Crunch, Novan Slashes Staff and Shuffles Executive Team
Novan is laying off 20 percent of its workforce, the company announced today, as it retrenches following the late-stage clinical trial failure of its experimental acne drug earlier this year. The skin drugs developer says it is still committed to its acne drug SB204. But Durham, NC-based Novan (NASDAQ: [[ticker:NOVN]]) adds that layoffs throughout the … Continue reading “Facing Cash Crunch, Novan Slashes Staff and Shuffles Executive Team”
Barracuda Networks Plans $2.3 Million Expansion and Hiring Spree
Barracuda Networks, the publicly traded cybersecurity giant, is growing—and has chosen once more to expand in Ann Arbor, MI. Barracuda (NYSE: [[ticker:CUDA]]), which was founded in Ann Arbor in 2003 but moved its headquarters to Silicon Valley in 2007, plans to invest $2.3 million in its downtown Ann Arbor office and add up to 115 … Continue reading “Barracuda Networks Plans $2.3 Million Expansion and Hiring Spree”
Of Catfish & Fickle Lovers: Aste CEO Talks Online Dating’s Downsides
There are millions of fish in the sea, and dating apps have made it easier to quickly find and connect with a lot more of those would-be catches. But the ease of creating an online dating profile—and the lack of oversight by the companies running such services—means that users can, and often do, misrepresent themselves. … Continue reading “Of Catfish & Fickle Lovers: Aste CEO Talks Online Dating’s Downsides”
Five Questions For … Dallas Entrepreneur Center CEO Trey Bowles
Dallas—Ask around Dallas who the city’s entrepreneurship ambassador is, and it’s likely that Trey Bowles’ name will quickly pop up. Bowles, who founded the Dallas Entrepreneur Center in 2013, is a high-profile supporter of the various accelerators, programs, and other efforts that have cropped up in North Texas to support innovation. In addition to running … Continue reading “Five Questions For … Dallas Entrepreneur Center CEO Trey Bowles”
Precision Steps: Can Loxo Drug Help Broaden Use of Cancer DNA Tests?
When the FDA last week approved Merck’s cancer drug pembrolizuamb (Keytruda) for tumors with a specific genetic signature, regardless of what body part they originated in, it was a watershed moment for oncology and a victory for the concept of precision medicine. But Merck isn’t alone; others are following suit with similar plans, and their … Continue reading “Precision Steps: Can Loxo Drug Help Broaden Use of Cancer DNA Tests?”
Paul Grint Is In, Scott Salka Out as CEO of AmpliPhi Biosciences
Paul Grint has been appointed CEO of AmpliPhi Biosciences (NYSE MKT: [[ticker:APHB]]). He replaces Scott Salka, who has resigned his CEO and director positions at the San Diego company. No reason was given for Salka’s resignation but AmpliPhi said that he would be a consultant to the company as Grint takes on his new role. Grint has … Continue reading “Paul Grint Is In, Scott Salka Out as CEO of AmpliPhi Biosciences”
Endocyte Cuts Workforce by 40 Percent After Clinical Trial Falters
Endocyte is halting a clinical trial for one of its cancer drugs and narrowing the focus of another following a review of the two early-stage drug programs, the company announced Friday. The changes are sparking a corporate restructuring that will shift the West Lafayette, IN-based company’s focus to compounds in its drug pipeline that have … Continue reading “Endocyte Cuts Workforce by 40 Percent After Clinical Trial Falters”
Week in Review: States, Corporations Look to Save World from Trump
Will this week be remembered as the moment the Earth’s changing climate went irretrievably over the edge—if it hasn’t done so already—or will it be a catalytic moment that accelerates action in spite of the U.S. president’s rejection of the global accord to address climate change? We explore that question with a couple of veteran … Continue reading “Week in Review: States, Corporations Look to Save World from Trump”
Stem Cell Software Firm Cellara Eyes Mid-June for Commercial Launch
[Updated 6/9/17 12:39 p.m. See below.] A 2015 study in the journal PLOS Biology estimated that $28 billion is spent annually in the U.S. on preclinical research that is not reproducible. One reason for what some researchers have called a “crisis” in reproducibility is that in certain types of laboratories, some scientists still track their day-to-day … Continue reading “Stem Cell Software Firm Cellara Eyes Mid-June for Commercial Launch”
Ghostruck Fined by Washington Regulator for Operating Without Permit
[Updated 6/3/17, 9:27 a.m. PT. See below.] Ghostruck, a Seattle startup connecting movers with customers, was fined $75,500 by the Washington Utilities and Transportation Commission (UTC) for “operating as a residential moving company without the required permit,” the commission announced Thursday. More than two-thirds of that penalty was suspended for two years, provided that the company … Continue reading “Ghostruck Fined by Washington Regulator for Operating Without Permit”
Mersana Plans IPO to Finance Clinical Trials for Breast Cancer Drug
Mersana Therapeutics has filed for an initial public stock offering that would help fund clinical trials for the company’s experimental treatment for breast cancer. The paperwork filed with securities regulators lists a $75 million stock offering, but that figure will likely change as Cambridge, MA-based Mersana determines how many shares it will offer and at … Continue reading “Mersana Plans IPO to Finance Clinical Trials for Breast Cancer Drug”
Winnebago Seed Fund, Part of Badger Fund of Funds, Raises $11M
A Wisconsin venture capital fund created under a state-supported program has raised $11 million. The Winnebago Seed Fund said the size of the funding round could top out at $12 million, according to a document filed with federal securities regulators. Thirty-one investors participated in the round, according to the filing. The fund is based in … Continue reading “Winnebago Seed Fund, Part of Badger Fund of Funds, Raises $11M”
SIGINT Wins Midway: Milestones of Innovation 13
In these days of internet disruptions of complex systems like medical care and even elections, our obsession with data security is swelling. We’re all too aware of how signals from myriad sources can help us construct patterns of human behavior and make plans to take advantage of that behavior. Although it may be no comfort … Continue reading “SIGINT Wins Midway: Milestones of Innovation 13”
Bio Roundup: ASCO Combo Frenzy, Maine’s Free DNA Tests, Sema4 & More
Over the next four days, the Second City will be the center of the biomedical world. The American Society of Clinical Oncology’s annual meeting in Chicago brings together thousands of researchers from across the globe to discuss the latest progress in the war against cancer. On tap this year: the crush of immunotherapy drug combinations, … Continue reading “Bio Roundup: ASCO Combo Frenzy, Maine’s Free DNA Tests, Sema4 & More”
Uber’s Week: Another Two Top Departures, But 1Q Loss Trimmed
It was a short work week due to the Monday holiday, but news about the ride-hailing behemoth Uber kept up its heavy pace as the company announced another two high-profile departures and revealed some financial results for the first quarter. The San Francisco-based unicorn, whose value is pegged at about $70 billion, said it had … Continue reading “Uber’s Week: Another Two Top Departures, But 1Q Loss Trimmed”
Boston Tech Watch: Zerto, Flywire, eClinicalWorks, CustomMade & More
Here are some of the latest headlines from the Boston-area tech community, including the acquisition of brain rehab app Constant Therapy, the makeover of online crafts marketplace CustomMade, and the expansion of data-recovery firm Zerto. Read on for details. —Boston University spinout Constant Therapy was acquired by San Diego-based Digital Health Corp for an undisclosed … Continue reading “Boston Tech Watch: Zerto, Flywire, eClinicalWorks, CustomMade & More”
Array Lands $31M in Licensing Deal with Japan’s Ono Pharma
Array BioPharma has agreed to license some rights to two of its clinical-stage cancer drugs to Ono Pharmaceutical, a deal that pays the Boulder, CO, biotech $31.6 million now and potentially more if those drugs hit key milestones. Ono, based in Osaka, Japan, gains development and commercialization rights in Japan and South Korea for binimetinib, … Continue reading “Array Lands $31M in Licensing Deal with Japan’s Ono Pharma”
Energy Leaders React to Trump’s Withdrawal From Paris Climate Accord
[Updated 6/2/17, 10:10 pm ET. See below.] President Donald Trump today announced the United States would withdraw from complying with what’s known as the Paris climate accord, a landmark international agreement to combat climate change. In December 2015, nearly all the countries in the world—195 of them—agreed to the pact, which aims to reduce emissions of … Continue reading “Energy Leaders React to Trump’s Withdrawal From Paris Climate Accord”
Austin Startup Everfest Raises $3.6M From Live Nation, ATX Seed
Austin—Everfest, a festival-focused startup based in Austin, TX, has raised a $3.6 million Series A round of funding from Live Nation Entertainment and ATX Seed Ventures. The company says it plans to use some of the money for product development, marketing, and new hires. Founded in 2014 by former uShip executives Paul Cross and Jay … Continue reading “Austin Startup Everfest Raises $3.6M From Live Nation, ATX Seed”
Sema4, Eric Schadt’s Genomics Startup, Spins Out of Sinai to Raise Cash
[Updated, 9:30 p.m. ET, see below] Eric Schadt has been incubating a genomic data project within the Icahn School of Medicine at Mount Sinai for more than five years. Today, the product of that work, a 300-plus employee startup called Sema4, has formally left the nest. Sema4 today spun out of Mount Sinai as a … Continue reading “Sema4, Eric Schadt’s Genomics Startup, Spins Out of Sinai to Raise Cash”
Internet-Connected Jewelry Maker WiseWear Joins XPRIZE Competition
San Antonio—WiseWear, a San Antonio tech company that makes an Internet-connected jewelry line, is one of 38 groups in the U.S. competing during the next year for a women’s safety-focused XPRIZE worth $1 million. WiseWear is seeking to design a system that costs less than $40 and can help women respond to potential threats. The … Continue reading “Internet-Connected Jewelry Maker WiseWear Joins XPRIZE Competition”
Dell Leads $12M Investment in Security Assessments Firm RiskRecon
It’s hard enough for businesses and organizations to secure their own networks against cyber attackers. But with the rise of cloud computing and increased outsourcing of business operations to third parties, companies must also worry about the cyber defenses of vendors and partners who have access to their sensitive data and other digital assets. Just … Continue reading “Dell Leads $12M Investment in Security Assessments Firm RiskRecon”
Bitterman Jumps From Polaris to Atlas to Build More Bio Startups
Kevin Bitterman has left Polaris Partners, where he spent more than a decade helping build biotech companies, to become a partner at another Boston-area life sciences venture firm, Atlas Venture. Bitterman was the founding CEO of Editas Medicine (NASDAQ: [[ticker:EDIT]]), Visterra, and Morphic Therapeutic, helped co-found Genocea Biosciences (NASDAQ: [[ticker:GNCA]]), and is also the chairman … Continue reading “Bitterman Jumps From Polaris to Atlas to Build More Bio Startups”
Seattle Startup WiBotic Readies Wireless Recharge System for Drones
For drones and other autonomous vehicles to carry out lengthy, meaningful assignments such as ongoing aerial surveillance or a day of delivering packages, they will need a reliable way to recharge their batteries with little or no human intervention. Seattle-based startup WiBotic, a spinout from the University of Washington, is developing a suite of wireless … Continue reading “Seattle Startup WiBotic Readies Wireless Recharge System for Drones”
Bicycle Therapeutics Maps Course to Clinic Backed by $52M Investment
One of the problems with cancer drugs is their broad effect: Besides killing cancer cells, they also harm healthy tissue. Bicycle Therapeutics is developing a new class of drugs that it says can offer a more targeted approach, and it has raised $52 million to support plans to bring its lead drug into clinical trials. … Continue reading “Bicycle Therapeutics Maps Course to Clinic Backed by $52M Investment”
Countering Cybersecurity Turnover: 57 Companies That Do It Best
What does it take to keep highly skilled cybersecurity employees? Salary and benefits are table-stakes. Challenging work, ongoing training, an opportunity to advance without having to become a manager, and a talented peer group all help companies recruit and retain these sought-after “ninjas”—the individuals who can do what artificial intelligence security tools can’t. Research from … Continue reading “Countering Cybersecurity Turnover: 57 Companies That Do It Best”
Verge Pitch Night at The Nest
Raleigh co-working space The Nest will host a Shark Tank-like pitch competition. Three Raleigh startups, PrecisionHawk, Pendo, and WedPics, will each have five minutes to present their companies, then take questions from fund managers David Gardner and Stephen Clossick. Registration is required.
Gig Economy Growing in Wisconsin, Despite Early Pushback
Independent contractors, temporary employees, and other so-called “contingent” workers make up a growing share of the American workforce. According to a 2015 report from the Government Accountability Office, contingent workers accounted for 40.4 percent of employed workers in 2010, up from 35.3 percent in 2006. In Wisconsin—and elsewhere—companies that make up the “sharing” or “gig” economy … Continue reading “Gig Economy Growing in Wisconsin, Despite Early Pushback”
Bolt Goes Bigger, Raises $80M for Third Early-Stage Hardware Fund
Bolt just raised over $80 million for its third venture fund, its largest to date. But the hardware investor and manufacturing consultant says it remains committed to backing early-stage startups that sometimes struggle to secure capital and other support. Bolt announced the new fund Wednesday in a blog post. An SEC filing indicates the firm … Continue reading “Bolt Goes Bigger, Raises $80M for Third Early-Stage Hardware Fund”
Teva Seeks to Keep Pace in Migraine Drug Race With Trial Results
An experimental Teva Pharmaceutical migraine drug has met the main goals of a late-stage clinical trial, keeping the drugmaker in the race to bring to the market a product that prevents migraine headaches instead of treating them after they start. Teva (NYSE: [[ticker:TEVA]]) reported Wednesday that its drug fremanezumab reduced the number of days during … Continue reading “Teva Seeks to Keep Pace in Migraine Drug Race With Trial Results”
Texas Cancer Agency Poised to Receive Two-Year Extension
Austin—The future of the Cancer Prevention and Research Institute of Texas (CPRIT) waits for Texas Gov. Greg Abbott’s signature. Texas lawmakers have passed legislation to expand the life of the agency, also known as CPRIT, which was created through a referendum a decade ago to issue $3 billion in bonds to fund cancer research and treatment … Continue reading “Texas Cancer Agency Poised to Receive Two-Year Extension”
With Gene Therapy for Diabetes, San Antonio Researcher Eyes Funding
San Antonio — Most diabetes treatments work by giving the body the insulin it needs to break down sugar. But that approach deals with the symptoms of diabetes. In recent years, scientists and companies have taken aim at the root cause of the condition by attempting to stimulate or replace the cells in the pancreas responsible … Continue reading “With Gene Therapy for Diabetes, San Antonio Researcher Eyes Funding”
Appthority Finds Mobile Apps’ Data Caches Exposed on Servers
[Corrected 6/7/17, 5:30 pm ET. See below.] While other cybersecurity companies were tracking the WannaCry ransomware that invaded victims’ computers in recent months, researchers at San Francisco-based Appthority were finding holes in major data storage sites where mobile apps and their business clients send their information for safekeeping. Appthority found that many mobile app developers—though … Continue reading “Appthority Finds Mobile Apps’ Data Caches Exposed on Servers”
As Big Cancer Trials Ramp Up, Grail Goes Global, Merges With Cirina
Grail, the Illumina (NASDAQ: [[ticker:ILMN]]) spinout aiming to develop a blood test that can detect cancer at its earliest stages, has gone global. The Menlo Park, CA, startup, is merging with China’s Cirina, a privately held company co-founded by a pioneer in the field of blood-based diagnostics, Dennis Lo. Grail, which recently raised a record … Continue reading “As Big Cancer Trials Ramp Up, Grail Goes Global, Merges With Cirina”
128 Technology Takes In $21.5M to “Transform People’s Networks”
Don’t look now, but 128 Technology is looking to go big. The Burlington, MA-based startup says today it has raised $21.5 million in Series C funding. The company, led by veterans of Acme Packet (now part of Oracle), is on a quest to reinvent routing technologies for the Internet and other networks. The new money … Continue reading “128 Technology Takes In $21.5M to “Transform People’s Networks””
In Maine, Making Cancer DNA Tests Free—And Asking Tough Questions
Has the era of genetic oncology arrived? Last week, the biomedical world took a notable step in that direction when the FDA said Merck’s drug pembrolizumab (Keytruda), already one of the world’s most successful cancer immunotherapies, could now treat any tumor with a particular genetic fingerprint. It was the first time a drug has been … Continue reading “In Maine, Making Cancer DNA Tests Free—And Asking Tough Questions”
Happy Trails, Ken: Nisbet Retires from Running U-M Tech Transfer
Tuesday marked the last day on the job for Detroit/Ann Arbor Xconomist Ken Nisbet, the University of Michigan’s longtime director of technology transfer—but don’t expect to see him enjoying post-career leisure activities anytime soon. “I’m not going to go fishing five days a week or anything,” Nisbet says with a laugh. “I’m staying in Ann … Continue reading “Happy Trails, Ken: Nisbet Retires from Running U-M Tech Transfer”