Exact Sciences saw its stock price rise late Tuesday on news that the health insurer UnitedHealthcare will cover Cologuard, Exact’s stool-based DNA test for colorectal cancer, starting July 1. Shares in Madison, WI-based Exact (NASDAQ: [[ticker:EXAS]]) were trading at $35.30 apiece as of 7:47 p.m. in New York, up more than 8.1 percent from Tuesday’s … Continue reading “Shares in Exact Sciences Rise on UnitedHealthcare Coverage Decision”
RNA Specialist Arcturus Therapeutics Gets $3M R&D Grant for CF Drug
San Diego-based Arcturus Therapeutics said today Cystic Fibrosis Foundation Therapeutics has agreed to provide $3 million to fund research and development of a new messenger RNA drug that could be broadly used to treat cystic fibrosis patients. The four-year-old startup has previously raised $37 million in research grants and other “non-dilutive” funding, and another $13 … Continue reading “RNA Specialist Arcturus Therapeutics Gets $3M R&D Grant for CF Drug”
Water Startups, Hyde, Lucigen, & More: This Week’s WI Watchlist
Just in time for the unofficial start of summer, we’re looking at news on startups in Wisconsin developing new water technologies, as well as one that has created a product for water sports enthusiasts. Plus, an award for growth in exports, an upcoming pitch event, commercial licensing agreements, and more happenings in the state’s innovation community. … Continue reading “Water Startups, Hyde, Lucigen, & More: This Week’s WI Watchlist”
Woodcock: New Approvals Show FDA Is Adapting to Precision Medicine
The randomized controlled trial has long been held up as the gold standard for testing new drugs. But the nation’s top drug evaluator, Janet Woodcock, believes they aren’t necessary for all new experimental treatments. Randomized trials are long, expensive to run, and ultimately produce limited answers, she said at a medical conference last week. The … Continue reading “Woodcock: New Approvals Show FDA Is Adapting to Precision Medicine”
Protagonist, Janssen Ink Development Deal for Crohn’s Disease Drug
Protagonist Therapeutics’ work developing an inflammatory bowel disease drug that can be taken as a pill, rather than injected, now has fresh cash and the backing of a large pharmaceutical partner. Newark, CA-based Protagonist (NASDAQ: [[ticker:PTGX]]) has entered a partnership with Janssen Biotech to develop and commercialize its drug, PTG-200. Janssen is paying Protagonist $50 … Continue reading “Protagonist, Janssen Ink Development Deal for Crohn’s Disease Drug”
With Governor’s Approval, Teladoc Expands Texas Telehealth Services
Dallas—Texas, a large healthcare market and the home state of Teladoc (NYSE: [[ticker:TDOC]]), has been a relatively small market for the telemedicine firm. But now with Texas Gov. Greg Abbott’s signature on a new law that makes operating in the state easier, Teladoc is poised to expand its business here. Lewisville, TX-based Teladoc had been … Continue reading “With Governor’s Approval, Teladoc Expands Texas Telehealth Services”
CounterTack Nabs $20M, Predicts More Demand After Trump Cyber Order
[Updated 5/30/17, 9:39 am. See below.] Cybersecurity firm CounterTack announced today it has expanded its coffers with a new $20 million funding round from investors. It could be good timing for the Waltham, MA-based company. The recent WannaCry ransomware cyber attack and President Donald Trump’s executive order laying out federal cybersecurity priorities could spell new … Continue reading “CounterTack Nabs $20M, Predicts More Demand After Trump Cyber Order”
At the Alexandria Center Tomorrow: Can NY Biotech Seize the Moment?
A few weeks ago at the annual NewYorkBio conference, Xconomy asked a variety of folks about the state of New York biotechnology in 2017: is the momentum that has been gathering in life sciences in New York still building, or has it stalled? Their answers were mixed. Some expressed frustration with some of the same … Continue reading “At the Alexandria Center Tomorrow: Can NY Biotech Seize the Moment?”
On ASCO’s Eve, Experts Fret Over Backlash to Cancer Combo Frenzy
When thousands of cancer researchers from around the world gather in Chicago this weekend for the American Society of Clinical Oncology’s annual meeting, drugs that fight tumors by boosting a patient’s immune system will take center stage, as they have in previous years. But the stage is more crowded, as researchers have begun in earnest … Continue reading “On ASCO’s Eve, Experts Fret Over Backlash to Cancer Combo Frenzy”
After Years of Growth, myCOI Plans Expansion That Could Add 185 Jobs
On Wednesday, Indianapolis startup myCOI announced it will invest nearly $1 million to more than double its footprint, creating up to 185 jobs by 2021. To help sweeten the deal, the Indiana Economic Development Corporation will grant myCOI up to $1.75 million in performance-based tax credits and up to $42,500 in workforce training grants. In … Continue reading “After Years of Growth, myCOI Plans Expansion That Could Add 185 Jobs”
Week in Review: Seattle Tech Boom From Amazon to Zestimate
With the Memorial Day Weekend weather forecast as nice as it has ever been or will ever be again, it’s time to grab some lab-grown “meat” and fire up the grill. First, let’s recap some of the headlines from booming Seattle’s tech industry this week, including our nation-leading population growth; several large venture capital investments … Continue reading “Week in Review: Seattle Tech Boom From Amazon to Zestimate”
Five Questions For … Houston Angel Network Chief Juliana Garaizar
Houston—Juliana Garaizar, managing director of the Houston Angel Network, is used to dealing with big egos and strong personalities in both the investing and tech worlds. “If it’s up to me, I try to work as little as possible with them and be very careful with them,” she says. “If it’s not up to me, … Continue reading “Five Questions For … Houston Angel Network Chief Juliana Garaizar”
Bio Roundup: Skinny Cuts, Genomic Approvals, Unfrozen FDA & More
Team Trump unveiled its 2018 federal spending proposal—the so-called “skinny budget”—with health and science in the crosshairs. The NIH is looking at a 22 percent cut and the FDA 31 percent, although the administration wants to backfill the FDA loss with a huge boost in user fees, which drug and device companies pay to have … Continue reading “Bio Roundup: Skinny Cuts, Genomic Approvals, Unfrozen FDA & More”
Boston Tech Watch: Acquia, ShoeBuy, Lola, MassChallenge & More
We’ve got lots of Boston-area tech news to catch up on this week. Here are some of the latest developments: New funds —Scansorial has raised $2.2 million from investors, according to an SEC filing. The Lexington, MA-based company makes Root, a robot intended to help teach software coding in an interactive way. The startup’s technology … Continue reading “Boston Tech Watch: Acquia, ShoeBuy, Lola, MassChallenge & More”
Uber, Lyft Return to Austin With Tech Edge, But Upstarts Grew Roots
Austin—[Updated 5/25/17, 4:42 p.m. See below.] A year after Uber and Lyft had a bad breakup with Austin, the software companies are returning to town Monday. That’s thanks to Texas state law makers who last week approved legislation that wiped out the city-imposed restrictions that caused Uber and Lyft to leave in the first place. … Continue reading “Uber, Lyft Return to Austin With Tech Edge, But Upstarts Grew Roots”
Rackspace Buys Boston Area’s TriCore in Largest-Ever Acquisition
San Antonio—Rackspace has acquired a Norwell, MA-based company called TriCore Solutions that the cloud computing giant says is its largest acquisition ever, both financially and by the number of employees. The news comes less than a year after Rackspace itself was bought for $4.3 billion by Apollo Global Management, a New York-based private equity firm that … Continue reading “Rackspace Buys Boston Area’s TriCore in Largest-Ever Acquisition”
DataRobot Buys Nutonian in Union of Accomplice-Backed A.I. Startups
[Updated 5/25/17, 2:30 pm. See below.] Here is some noteworthy consolidation in the Boston data science and artificial intelligence sectors: DataRobot has snapped up Nutonian for an undisclosed price, in a deal involving two young companies. The deal shows that five-year-old DataRobot is getting more aggressive in its efforts to become a leader in some … Continue reading “DataRobot Buys Nutonian in Union of Accomplice-Backed A.I. Startups”
Constellation Reboots With Eye On Immuno-Oncology, Hires New CEO
[Updated 5/25/17, 12:44 p.m. See below.] Constellation Pharmaceuticals, a Cambridge, MA-based biotech that up until 2015 had a sprawling alliance with Genentech, has made sweeping changes this morning. The firm has replaced its president and CEO, will transition its chief scientific officer out of his position in July, and is now embarking on a new … Continue reading “Constellation Reboots With Eye On Immuno-Oncology, Hires New CEO”
Amid Budget Concerns, NIH Preps Beta Test for Precision Medicine Plan
An ambitious plan to recruit 1 million U.S. volunteers and amass a treasure trove of their health information will start next week with a “beta test” that health officials hope to eventually expand nationwide. National Institutes of Health director Francis Collins said Wednesday that the Precision Medicine Initiative will begin in Pittsburgh, where the agency … Continue reading “Amid Budget Concerns, NIH Preps Beta Test for Precision Medicine Plan”
Last Chance to Save on “New York Biotech Seizes the Momentum”
Join Xconomy next Wednesday, May 31, at “New York Biotech Seizes the Momentum” for an afternoon of unique, candid, and interactive chats to discuss the steps being taken by a variety of key figures to change the state’s biotech identity. Don’t wait to register—our Procrastinator’s Special ends next week and it’s your last chance to … Continue reading “Last Chance to Save on “New York Biotech Seizes the Momentum””
Loan Provider BankMyBiz Aims to Continue Growth Through Partnerships
[Updated 5/25/17 4:47 p.m. See below.] People who have spent years working in a particular industry before deciding to hang out their own shingle need a few things to succeed: a business plan, plenty of gumption, and enough money to get a new venture off the ground. That last piece—the startup capital—can be hard to … Continue reading “Loan Provider BankMyBiz Aims to Continue Growth Through Partnerships”
Smartsheet, Outreach, Echodyne, Bulletproof, and Discuss.io Raise VC
Seattle-area tech companies announced a spate of eight-figure investment rounds this week. Here’s a rundown of who’s raising and who’s investing: —Smartsheet. The Bellevue, WA-based maker of online project management and collaboration tools announced a $52.1 million Series F funding round Wednesday. Insight Ventures Partners, an existing backer, took the lead on the funding—Smartsheet’s first … Continue reading “Smartsheet, Outreach, Echodyne, Bulletproof, and Discuss.io Raise VC”
Report: Microsoft Buying Cybersecurity Firm Hexadite for $100M
Microsoft is acquiring cybersecurity startup Hexadite for $100 million, according to a report by Israeli publication Calcalist. Xconomy has not yet confirmed the report. A Microsoft spokesperson said the company has “nothing to share at this time.” Hexadite CEO and co-founder Eran Barak and the company’s public relations representative have not yet responded to requests for … Continue reading “Report: Microsoft Buying Cybersecurity Firm Hexadite for $100M”
New Rackspace CEO Joe Eazor Previously Held Roles at EarthLink, EMC
San Antonio—Cloud computing company Rackspace has a new CEO: Joe Eazor, who was most recently the CEO of EarthLink, the company best known for providing dial-up Internet since the 1990s. Eazor is replacing Taylor Rhodes, who left Rackspace this month to take the top job at Chicago-based software company SMS Assist. Rackspace President Jeff Cotten, … Continue reading “New Rackspace CEO Joe Eazor Previously Held Roles at EarthLink, EMC”
Around Texas: Joseph Kopser, Mark Cuban, REVtech, Founder Institute
—Mark Cuban has led a $1.5 million seed funding round in an Austin IT startup, along with investors such as data.world founder Brett Hurt and Barracuda Networks. Meta SaaS provides reports and alerts on abandoned, underutilized, or redundant software licenses before they are auto-renewed, the company says. “SaaS has solved numerous business problems, but it … Continue reading “Around Texas: Joseph Kopser, Mark Cuban, REVtech, Founder Institute”
Analysis: Are Today’s Automobile Companies More Like Nokia or Apple?
As the CEO shake-up at Ford was unfolding this week—Mark Fields was ousted from the top spot in favor of Jim Hackett, who had been leading the automaker’s self-driving car and mobility efforts—Silicon Valley investor Marc Andreessen issued a sick burn: “Today’s car makers are like Nokia—right before it was crushed by Apple.” Ouch. Andreessen … Continue reading “Analysis: Are Today’s Automobile Companies More Like Nokia or Apple?”
Silicon Valley’s LifeSite Snaps Up Personal-Data App Mustbin
A new acquisition in the Boston tech scene today: Mustbin, a mobile app for organizing and securing personal data such as photos and documents, is getting bought by LifeSite, a “digital vault” startup based in Mountain View, CA. Terms of the deal aren’t being disclosed. The deal is an “asset-only” acquisition, according to a spokeswoman, … Continue reading “Silicon Valley’s LifeSite Snaps Up Personal-Data App Mustbin”
Zesty Reinvents Itself With New Cash for Automated Web Tech
Zesty.io, a San Diego Web development firm, has raised $1.3 million in seed funding to spin out its consulting business, and focus instead on providing its core Web content management technology as a subscription-based software-as-a-service. CEO Randy Apuzzo said Zesty changed from a Web development firm to to SaaS in 2015, with the guidance of … Continue reading “Zesty Reinvents Itself With New Cash for Automated Web Tech”
Unconventional Partners, Like FDA, Can Drive Adoption of New Tech
We’ve heard it time and again. Drug development is too expensive, takes too long, and many drug candidates that show promise in preclinical trials end up failing because testing methods don’t predict how they will work in humans. Recently, new technologies have emerged that offer disruptive potential for steering the development of drugs in more … Continue reading “Unconventional Partners, Like FDA, Can Drive Adoption of New Tech”
Gottlieb Says FDA’s “Regulatory Tools” Can Help Fight Opioid Abuse
The FDA considers how safe and effective a new drug is before approving it. But for addictive opioid painkillers, which have triggered a massive public health crisis, should the agency also weigh the potential for the medication to be abused? That’s one of the questions that new FDA Commissioner Scott Gottlieb is posing as he … Continue reading “Gottlieb Says FDA’s “Regulatory Tools” Can Help Fight Opioid Abuse”
FDA Landmark Nod: Cancer Drug To Match Tumor Genes, Not Tissue Type
For many years, doctors and researchers have known that cancers in different parts of the body can share genetic abnormalities. For the first time, the FDA has approved a drug based on those abnormalities and not on the organ in which the cancer originated. It’s a moment that a lot of people in the cancer … Continue reading “FDA Landmark Nod: Cancer Drug To Match Tumor Genes, Not Tissue Type”
Interactions Buys Digital Roots to Bolster Social Media Offerings
Interactions, a Franklin, MA-based company using artificial intelligence technologies to power virtual assistants for enterprise customers, today announced it has acquired Digital Roots, a metro Detroit startup focused on AI-based customer engagement on social media. The specific terms of the deal were not disclosed. Digital Roots is headquartered in Northville, MI, in a building that … Continue reading “Interactions Buys Digital Roots to Bolster Social Media Offerings”
Novartis’ Martin Seidel Joins IFM Therapeutics as V.P. of R&D
Martin Seidel is joining IFM Therapeutics to become the Boston biotech’s executive vice president of research and development. Seidel comes to IFM from Novartis (NYSE: [[ticker:NVS]]), where he was most recently global head of strategic alliances for the Novartis Institutes for Biomedical Research (NBIR). Before that, he was head of NBIR’s Genomics Institute of the … Continue reading “Novartis’ Martin Seidel Joins IFM Therapeutics as V.P. of R&D”
American Robotics Scouts Out $1.1M to Bring A.I. to Farm Drones
Drones are opening up the skies to farmers who want better ways to monitor their crops. But even though flying a drone over a field is less labor-intensive than walking through one, Reese Mozer says that current drones still take too much time and effort for farmers to use. Mozer, founder and CEO of American … Continue reading “American Robotics Scouts Out $1.1M to Bring A.I. to Farm Drones”
Not Resting on Hemophilia Biz, Bioverativ Pays $400M For True North
Less than four months into its existence, Biogen spinoff Bioverativ has made its first big splash. The company has acquired True North Therapeutics, a privately held South San Francisco, CA, biotech, as part of a plan to forge an identity around rare blood diseases, not the core hemophilia business it was built on. Waltham, MA-based … Continue reading “Not Resting on Hemophilia Biz, Bioverativ Pays $400M For True North”
ViaCyte Raises $10M, Moves to Human Trial with New Diabetes Product
San Diego-based ViaCyte said it is ready to move into human testing with a new product intended for patients with Type 1 diabetes who are at high risk for acute, life-threatening complications from severe episodes of low blood sugar (hypoglycemia). ViaCyte said Monday that healthcare regulators in both the United States and Canada have permitted … Continue reading “ViaCyte Raises $10M, Moves to Human Trial with New Diabetes Product”
Startup Accelerator Gener8tor Explores Possible Expansion to Indiana
Gener8tor, a Wisconsin-based group that runs training programs for early-stage companies and invests in them, is considering bringing those programs to Indianapolis. The organization is still finalizing its decision about whether to expand into the Hoosier State. But if Gener8tor elects to do so, it will likely open an Indianapolis office by early 2018 and … Continue reading “Startup Accelerator Gener8tor Explores Possible Expansion to Indiana”
Rackspace’s Former CEO Rhodes Takes Top Job at Chicago’s SMS Assist
San Antonio—Taylor Rhodes, the former Rackspace CEO who resigned at the beginning of this month, is taking the helm of a Chicago-based company, SMS Assist, which has software that aims to help large business chains manage maintenance and property management services for their buildings. Rhodes had served as the CEO of San Antonio-based Rackspace since … Continue reading “Rackspace’s Former CEO Rhodes Takes Top Job at Chicago’s SMS Assist”
Trump’s Cybersecurity Czar Talks WannaCry, Industry Partnerships
The Trump administration’s plan for strengthening the nation’s cyber defenses is starting to come into focus. Rob Joyce, a special assistant to the president and the White House’s cybersecurity coordinator, spoke in Boston Monday at an event promoting the launch of CyberMA, a Massachusetts affiliate of the national CyberUSA initiative. CyberMA is a MassTLC-led group … Continue reading “Trump’s Cybersecurity Czar Talks WannaCry, Industry Partnerships”
Celgene’s Data Could Lead To New Option For Multiple Sclerosis Patients
Celgene reported Monday that an experimental pill for the main type of multiple sclerosis met its main goals in a two-year study. By the end of the year, the Summit, NJ, drugmaker will ask the FDA to consider the drug, ozanimod, for approval. The Celgene (NASDAQ: [[ticker:CELG]]) drug is being tested in patients with relapsing … Continue reading “Celgene’s Data Could Lead To New Option For Multiple Sclerosis Patients”
With $29M in New Cash, Echodyne Advances “Radar Vision” for Machines
[Updated, 5/23/17, 5:50am. See below] One of the Northwest’s most intriguing startups has a new wad of cash. Bellevue, WA-based Echodyne said it has raised $29 million in Series B funding led by New Enterprise Associates. The company’s previous investors also participated in the round; they include Bill Gates, Paul Allen’s Vulcan Capital, Madrona Venture … Continue reading “With $29M in New Cash, Echodyne Advances “Radar Vision” for Machines”
Envision the Future: Request Your Invite to Our Napa Summit June 8-9
We are getting down to the wire—just two and a half weeks until Xconomy’s most unique, up close and personal event of the year: our sixth annual Napa Summit: The Xconomy Retreat on Technology, Jobs, and Growth. We have only about 20 spots left open, and a number of those will likely go fast. So … Continue reading “Envision the Future: Request Your Invite to Our Napa Summit June 8-9”
What’s Next for American Workers as Trade, Automation Roil Manufacturing?
When Donald Trump heralded Ford’s announcement earlier this year that it would invest $1.2 billion in its Michigan plants, it was seen by some as the fulfillment of campaign promises to “bring jobs back” and put America first. Last week, the other shoe dropped with reports that Ford will cut 10 percent of its global … Continue reading “What’s Next for American Workers as Trade, Automation Roil Manufacturing?”
Radius Shares Jump as Amgen’s Bone Drug Suffers a Setback in Phase 3
Amgen revealed late Sunday that safety problems have emerged in clinical testing of its closely watched osteoporosis drug, romosozumab (Evenity)—a development that will at minimum delay the drug’s path to approval, if not keep it off the market altogether. The Thousand Oaks, CA, company said while romosozumab met its main goal and some key secondary … Continue reading “Radius Shares Jump as Amgen’s Bone Drug Suffers a Setback in Phase 3”
Five Questions For … Austin Serial Entrepreneur Higinio “HO” Maycotte
Austin—Family lore holds that HO Maycotte’s great-grandfather shot off the leg of Pancho Villa, a Mexican revolutionary. Maycotte, a serial entrepreneur based in Austin, grew up in San Miguel de Allende, Mexico, in a military-turned-entrepreneurial family. His family established the first hotel there as well as arts schools and a golf course. “It was an … Continue reading “Five Questions For … Austin Serial Entrepreneur Higinio “HO” Maycotte”
Cook Medical Gets FDA OK for Device to Treat Rare Birth Defect
In rare instances, a baby’s esophagus develops improperly during pregnancy, leaving a gap in this tube connecting the throat to the stomach. Babies born with this condition can’t eat by mouth, and they require surgery to repair the defect. Bloomington, IN-based Cook Medical recently received FDA approval for a new medical device that offers a … Continue reading “Cook Medical Gets FDA OK for Device to Treat Rare Birth Defect”
Gener8tor, StartingBlock, Wicab, & More: This Week’s WI Watchlist
Catch up on news from Wisconsin’s innovation community with these recent headlines: —Gener8tor, which has run training programs for entrepreneurs in Wisconsin and Minnesota, graduated five startups from its core accelerator program. Descriptions of the companies, which had been working from Gener8tor’s office in Madison since February, are available here. See articles in the Wisconsin … Continue reading “Gener8tor, StartingBlock, Wicab, & More: This Week’s WI Watchlist”
Where Do WI And Milwaukee, Last In Startup Activity, Go From Here?
Call it a “three-peat,” a losing streak, or what you will. Just don’t call it a surprise. On Thursday, the Ewing Marion Kauffman Foundation released its latest ranking of startup activity by state. For the third consecutive year, Wisconsin finished in last place. Many of the reactions from members of the state’s early-stage business and … Continue reading “Where Do WI And Milwaukee, Last In Startup Activity, Go From Here?”
Week in Review: Remembering the Seattle of Chris Cornell and Grunge
Seattle mourns the death of Chris Cornell, the Soundgarden front man and Seattle native synonymous with the city’s grunge sound. Some thoughts on that below, but first tech news including Canadian Prime Minister Justin Trudeau’s visit to the Microsoft CEO Summit; results from the Seattle Angel Conference; new leadership at the University of Washington’s entrepreneurship … Continue reading “Week in Review: Remembering the Seattle of Chris Cornell and Grunge”
Bio Roundup: Termeer Tribute, ASCO Peeks, Califf’s New Gigs & More
Exhausted by the nonstop drama in Washington, DC? Immerse yourself instead in this week’s biotech headlines. Let’s start with a tribute to a life sciences icon, then we’ll head around the Xconomy network with early news from the nation’s big yearly cancer meeting. There was also momentum onthe IPO front and new gigs for high-profile … Continue reading “Bio Roundup: Termeer Tribute, ASCO Peeks, Califf’s New Gigs & More”