A compound that Karyopharm Therapeutics has tested as an antiviral for humans is getting a new home with Anivive Lifesciences, which plans to bring the drug to market as a cancer treatment for dogs. Anivive is paying $1 million up front to Newton, MA-based Karyopharm (NASDAQ: [[ticker:KPTI]]) for rights to the drug, verdinexor. If Anivive, … Continue reading “Keeping Focus on Cancer, Karyopharm Licenses Antiviral to Anivive”
EOW Reading List: A.I. Friends and FWBs; Redefining Human Knowledge
One of the most interesting—or vexing—aspects of artificial intelligence is the way it causes us to examine virtually every aspect of what it means to be human. In this edition of Xconomy’s End of Work Reading List, we’re highlighting stories on sex robots, which raise a host of questions about human relationships, and the “black … Continue reading “EOW Reading List: A.I. Friends and FWBs; Redefining Human Knowledge”
With $75M Haul, Ovid Continues Flurry of Biotech IPOs
The recent biotech IPO surge continues. Ovid Therapeutics raised $75 million in an IPO late Thursday, becoming the fifth life sciences company to hit the Nasdaq in the past two weeks. Ovid (NASDAQ: [[ticker:OVID]]), a New York company developing drugs for rare brain diseases, sold 5 million shares at $15 apiece. Those numbers come in … Continue reading “With $75M Haul, Ovid Continues Flurry of Biotech IPOs”
Propeller CEO: Engagement, Environment Among Population Health Keys
Hospitals and other healthcare organizations are turning to high-tech tools to help them adapt to the shift to so-called value-based care, where providers are paid based on patient outcomes, rather than the quantity of patient visits and services delivered. Those tools include population health management software, a sector seeing increased competition as demand from healthcare … Continue reading “Propeller CEO: Engagement, Environment Among Population Health Keys”
Future At Stake, Zafgen Gives First Glimpse of New Obesity Drug Data
Zafgen took a big hit last year when two patient deaths forced it to abandon its most advanced drug, belaronib. The company is now looking to a new experimental weight loss drug for diabetics to turn its fortunes around, with the first glimpse at early data released this afternoon. Many caveats apply. The data are … Continue reading “Future At Stake, Zafgen Gives First Glimpse of New Obesity Drug Data”
ChromaCode Using $12M to Make Old-School PCR Tests More Powerful
The advent of high-throughput DNA sequencing has greatly accelerated biomedical research and discovery, and brought the cost of sequencing a whole human genome to roughly $1,000. But what if you don’t need the whole genome? Carlsbad, CA-based ChromaCode was founded in late 2012 with the idea of boosting old-school molecular diagnostics instruments used in clinical … Continue reading “ChromaCode Using $12M to Make Old-School PCR Tests More Powerful”
VC Confidence Holds Steady in Quarterly Survey, But Reasons Change
In a survey of 29 Silicon Valley venture capitalists in December, the VCs mulled whether President-elect Donald Trump would buoy up their investment prospects with lower corporate taxes and government regulations, or worsen conditions by heightening global political instability and raising the risk of a major military conflict or economic downturn. That Q4 2016 edition … Continue reading “VC Confidence Holds Steady in Quarterly Survey, But Reasons Change”
Fuze Grabs $30M More, Upping Stakes for Possible IPO
Investors’ appetite for Fuze seems unquenchable. The Cambridge, MA-based software firm just tacked another $30 million onto a recent equity funding round, bringing the round’s total to $134 million. The new money comes from an undisclosed public pension fund based in the U.S. Fuze’s total venture capital haul now stands at $334 million. A Fuze … Continue reading “Fuze Grabs $30M More, Upping Stakes for Possible IPO”
Cytori Reboots Azaya Facility After Buyout, Looks for European Deal
San Antonio — Cytori Therapeutics is in the process of restarting a San Antonio manufacturing facility it gained in February when it acquired Azaya Therapeutics, the maker of nanoparticle-encapsulated generic drugs. The San Diego-based company now plans to find a European distributor for a drug that facility makes. Cytori (NASDAQ: [[ticker:CYTX]]) is working to bring the … Continue reading “Cytori Reboots Azaya Facility After Buyout, Looks for European Deal”
If Budget Holds, NIH Precision Study Could Be Flush As Volunteers Arrive
Until this week, many U.S. government science agencies and programs seemed destined for a big haircut, plus the loss of a limb or two. That included the Precision Medicine Initiative, an ambitious long-term study with the goal of recruiting 1 million Americans to volunteer health data. But in staving off a government shutdown, Congress pushed … Continue reading “If Budget Holds, NIH Precision Study Could Be Flush As Volunteers Arrive”
Hacking Health: What Does It Take to Build a Med Tech Ecosystem?
Regional healthcare organizations, IT experts, clinicians, and entrepreneurs will spend the weekend at TechTown Detroit for the third annual Hacking Health event, which is designed to break open silos and inspire new collaborations between med tech innovators on both sides of the Detroit River. Attendees of the weekend hackathon, hosted by TechTown and Ontario’s WEtech … Continue reading “Hacking Health: What Does It Take to Build a Med Tech Ecosystem?”
LevelTen Aims to Satisfy Surging Corporate Renewable Energy Demand
Large technology companies have driven demand for renewable energy in the U.S. over the last few years as they seek lower, more predictable electricity bills, and pursue climate goals. Companies are buying wind and solar power the traditional way—from utilities—but some of the richest, most sophisticated corporations, such as Google, Microsoft, and Amazon, are building … Continue reading “LevelTen Aims to Satisfy Surging Corporate Renewable Energy Demand”
Rackspace, Owned by Private Equity, Loses CEO to Cloud Tech Company
San Antonio—Rackspace’s CEO, Taylor Rhodes, is leaving his post for an unnamed, smaller tech company this month, the newest dramatic change for the cloud computing giant, which was sold to private equity investors for $4.3 billion in August. Rhodes had been at the helm of Rackspace since 2014 and led the company through rapid changes … Continue reading “Rackspace, Owned by Private Equity, Loses CEO to Cloud Tech Company”
Source: SmartBear Software Sold to Francisco Partners for $410M
SmartBear Software, a Somerville, MA-based provider of tools for software developers and testers, has sold a majority stake in the company to private equity firm Francisco Partners. The terms weren’t publicly disclosed, but a source with knowledge of the deal tells Xconomy the transaction has an enterprise value of $410 million. SmartBear Software was formed … Continue reading “Source: SmartBear Software Sold to Francisco Partners for $410M”
Some See Large EHR Vendors as Playing Catch-up in Population Health
Lawmakers may end up repealing the Affordable Care Act, but it has been the law of the land for enough time that some of the changes it has brought will likely leave a lasting mark on the healthcare industry. One of these changes is the shift away from fee-for-service payment models, where providers are paid … Continue reading “Some See Large EHR Vendors as Playing Catch-up in Population Health”
Austin Startups, EverlyWell and Bitfusion, Nab New Rounds of Funding
Austin—Two local tech startups—one in health IT and another in computing and machine learning software—have announced new rounds of funding. EverlyWell picked up $2 million from investors such as NextGen Venture Partners, SoGal Ventures, Full Tilt Capital, and others. The startup, founded about two years ago, makes what it calls “health and wellness tests”—at-home assays … Continue reading “Austin Startups, EverlyWell and Bitfusion, Nab New Rounds of Funding”
Cazalot to Lead Techstars Boston, Wants to Energize Local Community
The first thing to know about Clément Cazalot is that he is French. The second thing is that he co-owns a new French restaurant in Boston’s South End, called Frenchie. It has a killer wine list and excellent food, based on a recent visit. The tech startup community will also want to know that Cazalot … Continue reading “Cazalot to Lead Techstars Boston, Wants to Energize Local Community”
Genentech’s Raphaël Rousseau Joins Gritstone as Chief Medical Officer
Raphaël Rousseau has been appointed chief medical officer of Gritstone Oncology. Rousseau joins Emery, CA-based Gritstone from Roche subsidiary Genentech, where he most recently served as global franchise head for pediatrics in the firm’s Product Development Oncology division. Rousseau’s hire follows Gritstone’s recent promotion of Roman Yelensky to chief technology officer. Gritstone is developing a … Continue reading “Genentech’s Raphaël Rousseau Joins Gritstone as Chief Medical Officer”
Pieris Adds Another Partner, Gets $45M in AstraZeneca Lung Drug Deal
A protein drug developer with roots in Germany continues to grow in Boston, MA, with the help of another partnership. Pieris Pharmaceuticals today cut a deal with AstraZeneca to develop a group of drugs for respiratory diseases, adding a new name to an already wide list of pharmaceutical partners. Pieris (NASDAQ: [[ticker:PIRS]]) gets $45 million … Continue reading “Pieris Adds Another Partner, Gets $45M in AstraZeneca Lung Drug Deal”
Friend & Flowers Return With Wasabi, Take on Amazon in “Hot Storage”
In the market for cloud storage and related tech services, there is Amazon—and then there’s everybody else. The Seattle-based company’s (NASDAQ: [[ticker:AMZN]]) Amazon Web Services business generated $12.2 billion in sales last year, and it controls an estimated 33 percent of the global market for cloud infrastructure services, according to a recent analysis by Synergy … Continue reading “Friend & Flowers Return With Wasabi, Take on Amazon in “Hot Storage””
New San Diego Biotech Looks to Open Way for Anti-Cancer Drugs
In early 2002, the Finnish-born scientist Erkki Ruoslahti stepped down as CEO of what is now San Diego’s Sanford Burnham Prebys Medical Discovery Institute. He moved to Santa Barbara, CA, where he established what he calls “a little subsidiary” of the SBP institute, and joined the faculty of UC Santa Barbara. He continued his research … Continue reading “New San Diego Biotech Looks to Open Way for Anti-Cancer Drugs”
Grab Your Ticket for What’s Hot in Boston Biotech on May 11th
Xconomy Boston— We are just a week away from “What’s Hot in Boston Biotech”—and we’re offering you a chance to save $80. Join us for an afternoon of spotlight talks, fireside chats, and panel discussions that will delve into a variety of the hot button topics affecting the life sciences industry. It all takes place … Continue reading “Grab Your Ticket for What’s Hot in Boston Biotech on May 11th”
Analysis: Trump’s First 100 Days Through the Tech Industry Lens
Donald Trump spent his 100th day in office in ways that would appeal to his working class base—holding a campaign-style rally in Harrisburg, PA, where he confirmed his campaign commitment to controlling immigration. Trump also signed an executive order to create a White House office of trade and manufacturing policy, which aims to protect American … Continue reading “Analysis: Trump’s First 100 Days Through the Tech Industry Lens”
Epic, Zuckerberg, Cellectar, & More: This Week’s Wisconsin Watchlist
[Updated 5/3/17 9:53 a.m. See below.] Keep up with the latest news from Wisconsin’s innovation community, starting with these headlines: —The U.S. Coast Guard submitted a request for information to a government procurement website related to the purchase of electronic health records (EHR) software, Healthcare IT News reported. The Coast Guard had been installing EHR software … Continue reading “Epic, Zuckerberg, Cellectar, & More: This Week’s Wisconsin Watchlist”
Heymann and Bhowmik Launch Converge, Boston’s Latest Venture Firm
Boston’s tech investing landscape has changed a lot in the past couple of years, with a wave of new early-stage funds popping up. That activity continued this week with the unveiling of Converge, a new venture investing firm co-founded and led by Nilanjana Bhowmik and Maia Heymann. Bhowmik (pictured above, right) has been a general … Continue reading “Heymann and Bhowmik Launch Converge, Boston’s Latest Venture Firm”
CA Stem Cell Agency Chief Randy Mills to Leave After Three Years
[Updated 5/2/17, 7:30 p.m. ET. See below.] The head of California’s stem-cell agency is stepping down after three years on the job. C. Randall Mills, known as Randy, is leaving the agency to run a nonprofit bone marrow donor matching program as of July 1, according to CIRM. Mills joined CIRM, which stands for California … Continue reading “CA Stem Cell Agency Chief Randy Mills to Leave After Three Years”
Smarr, Others Talk Healthtech, AI at Xconomy’s Impact of Innovation
In the not-too-distant future, a “planetary” computer will be able to create a computational model of your body, with the ability to run simulations of your health and to anticipate chronic disease before you show any symptoms. This is the direction we’re headed, according to Larry Smarr, founding director of the California Institute of Telecommunications … Continue reading “Smarr, Others Talk Healthtech, AI at Xconomy’s Impact of Innovation”
Angie’s List, Grown in Indiana, Merging with Colorado’s HomeAdvisor
Two days after Angie Hicks, the co-founder and chief marketing officer of home services website Angie’s List, won an award for being a trailblazer in Indiana’s technology sector, her company announced it is heading down a new path. Angie’s List has agreed to be sold to Internet giant IAC, which will merge Hicks’s firm with … Continue reading “Angie’s List, Grown in Indiana, Merging with Colorado’s HomeAdvisor”
IRobot, With Stock at Record High, Continues Down Smart Home Path
IRobot today announced new features intended to make its Roomba vacuums “smarter,” continuing the company’s sharper focus on consumer robotics and its goal of enabling the connected home. The Bedford, MA-based firm (NASDAQ: [[ticker:IRBT]]) is adding Wi-Fi connectivity to its cheaper Roomba 600 and Roomba 800 series of autonomous vacuums, a capability that was previously … Continue reading “IRobot, With Stock at Record High, Continues Down Smart Home Path”
A.I.’s Role In Agriculture Comes Into Focus With Imaging Analysis
The imaging technologies scanning farms today trace their roots to the space race. In 1965, the U.S. Geological Survey proposed using satellites to observe the planet. Seven years later, NASA launched Landsat 1. Among that satellite’s accomplishments: an estimate of the corn and soybean acreage stretching from Iowa to Indiana. The eighth version of Landsat … Continue reading “A.I.’s Role In Agriculture Comes Into Focus With Imaging Analysis”
Magenta Nabs More Cash, Licenses Drug To Boost Transplant Pipeline
Magenta Therapeutics said today it has doubled its money with a $50 million Series B round led by GV, formerly Google Ventures. The Cambridge, MA-based startup spun out of Harvard University last year with nearly $50 million in launch money to develop improved bone marrow transplants. Magenta has also licensed a drug from Novartis that … Continue reading “Magenta Nabs More Cash, Licenses Drug To Boost Transplant Pipeline”
BioNetwork Power Hour
A free networking event for people who work in life sciences industries to meet others in their profession in a casual atmosphere, and have an opportunity to exchange ideas. The event supports Gilda’s Club Madison, a nonprofit dedicated to providing emotional support, education, and hope to all people affected by cancer throughout Wisconsin. The mission of Gilda’s Club Madison is to … Continue reading “BioNetwork Power Hour”
Nominations Open for the Inaugural Xconomy Awards
Like so much of the life sciences world, Xconomy has its roots in Boston and Cambridge. When the annual Biotech Week Boston convenes this September, we’ll be there, too, with our Life Science Disruptors forum, but also something new: The inaugural Xconomy Awards, highlighting some of the most influential people, startups, and other organizations in … Continue reading “Nominations Open for the Inaugural Xconomy Awards”
Bridj Runs Out of Gas After Deal With Car Company Falls Through
Bridj’s vision of transforming urban transportation is no more, after the Boston-based startup announced over the weekend that it’s shutting down. Bridj—which operated a transit service that used a private fleet of shuttle vans coordinated by mobile app—decided to wind down operations after a deal with an unnamed “major car company” fell through, CEO Matt … Continue reading “Bridj Runs Out of Gas After Deal With Car Company Falls Through”
Shire Sets Sights on Dry Eye Disease with Deal for Parion Drug
Shire is paying $20 million up front to acquire rights to a drug that Parion Sciences has developed as a potential treatment for dry eye disease. The deal calls for Shire (NASDAQ: [[ticker:SHPG]]) to take the lead on further work on P-321, a compound that Durham, NC-based Parion has tested in early-stage clinical trials. If … Continue reading “Shire Sets Sights on Dry Eye Disease with Deal for Parion Drug”
FDA Wants More Safety Info on Psych Drug, Intra-Cellular Shares Drop
Despite mixed data from clinical trials, Intra-Cellular Therapies plans to seek FDA approval for an experimental schizophrenia drug, its only therapy even close to market. But that plan got more difficult this morning as the company revealed the FDA has some questions about the drug’s safety, causing shares to slide to their lowest levels since … Continue reading “FDA Wants More Safety Info on Psych Drug, Intra-Cellular Shares Drop”
The State of Cybersecurity Insurance Today
Cyber incidents are considered the No. 1 emerging risk for enterprises long-term. No surprise, then, that cybersecurity insurance policy premiums are approaching $2.75 billion a year. Some experts believe this figure will grow to roughly $20 billion by 2025. For scores of insurance companies cashing in on the booming corporate cybersecurity insurance market, it’s a … Continue reading “The State of Cybersecurity Insurance Today”
Entrepreneurs, VCs, Bio Builders Talk Seizing Momentum in NY on May 31
It’s going to take more than just a government initiative for New York to forge an identity as a top commercial hub for life sciences. It’s going to take great ideas, entrepreneurs taking risks, developers making space their companies can grow in, and investors gambling on their success. Some of these things are already happening, … Continue reading “Entrepreneurs, VCs, Bio Builders Talk Seizing Momentum in NY on May 31”
Texas Roundup: Joshua Baer, UTD, Prytime, Next Coast, Spanning
Let’s get caught up with the latest innovation news from Xconomy Texas. —Renaissance Venture Capital, a fund-of-funds based in Ann Arbor, MI, announced it invested in Next Coast Ventures, a venture firm based in Austin. Renaissance puts money in out-of-state venture firms in order to help entice them to consider investing in Michigan-based startups. —For … Continue reading “Texas Roundup: Joshua Baer, UTD, Prytime, Next Coast, Spanning”
Epic Sciences Advances Diagnostic for Late-Stage Prostate Cancer
When San Diego’s Epic Sciences raised $30 million almost three years ago, CEO Murali Prahalad told me he saw a big opportunity to use the company’s technology as a diagnostic test to assess how well a cancer patient is responding to specific anti-cancer drug regimens. Epic said Friday it had raised an additional $40 million … Continue reading “Epic Sciences Advances Diagnostic for Late-Stage Prostate Cancer”
John Tucker Named President and CEO of scPharmaceuticals
Biopharmaceuticals company scPharmaceuticals has appointed John Tucker to the position of president and CEO. He has also been elected to the board of directors of the privately held company. Lexington, MA-based scPharmaceuticals has developed a drug delivery device that can administer medication just below the skin. The company’s lead product candidate is a subcutaneous formulation … Continue reading “John Tucker Named President and CEO of scPharmaceuticals”
Renaissance VC Fund Backs New-to-Michigan Next Coast Ventures
Ann Arbor, MI-based Renaissance Venture Capital Fund announced this week that it has invested in Austin, TX-based Next Coast Ventures. The fund-of-funds, which puts money into out-of-state VC funds to help entice them to invest in Michigan startups, did not disclose the amount of the investment. Chris Rizik, CEO of Renaissance and Detroit/Ann Arbor Xconomist, … Continue reading “Renaissance VC Fund Backs New-to-Michigan Next Coast Ventures”
SmartUQ Scoops Up $1.9M for Simulation Analytics Software
SmartUQ, a Madison, WI-based software developer whose digital tools allow users to test the performance of physical products and the parts they’re made of, has raised more than $1.9 million from investors. Twenty-five investors participated in the equity financing round, according to an SEC filing. Peter Qian, who founded SmartUQ in 2014 and serves as … Continue reading “SmartUQ Scoops Up $1.9M for Simulation Analytics Software”
Zymeworks Bags $58M in IPO to Bankroll Cancer Drug Trials
Zymeworks is the latest biotech to go public, raising $58.5 million through a stock offering that the company says will finance early stage clinical trials for its two lead cancer drug candidates. Vancouver, BC-based Zymeworks sold 4.5 million shares at $13 apiece, coming in at the low end of the $13 to $16 per range … Continue reading “Zymeworks Bags $58M in IPO to Bankroll Cancer Drug Trials”
Radius Nabs FDA OK For New Bone Drug With Rival Amgen Close Behind
At least one new treatment is on the way for osteoperosis patients, and possibly two before the end of the summer. Radius Health on Friday won FDA approval of an osteoperosis drug that, like a rival treatment from Eli Lilly, can help build up the strength of bones rather than just prevent them from becoming … Continue reading “Radius Nabs FDA OK For New Bone Drug With Rival Amgen Close Behind”
Five Questions For … Joshua Baer, Founder of Austin’s Capital Factory
Austin—Joshua Baer has become one of Austin’s most high-profile evangelists. Baer founded Capital Factory in 2009 as a combination startup accelerator program and co-working space in the city’s downtown, and it quickly became a key epicenter of innovation in the city. (Capital Factory hosted nearly 1,000 startup-related events this past year.) During the South By … Continue reading “Five Questions For … Joshua Baer, Founder of Austin’s Capital Factory”
After Sarepta’s Surprising FDA Nod, CEO Kaye Plans to Resign
Ed Kaye was the chief medical officer of Sarepta Therapeutics for nearly six years before being thrust into the spotlight. In April 2015, CEO Chris Garabedian resigned, and Kaye took up the job of trying to notch the first-ever approval for a Duchenne muscular dystrophy drug, eteplirsen (Exondys 51)—with the slimmest of data, no less. … Continue reading “After Sarepta’s Surprising FDA Nod, CEO Kaye Plans to Resign”
Veering Off Topic With Adelphic Co-founder Jennifer Lum
Next up in my ongoing series of offbeat chats with local tech execs and investors is Jennifer Lum. Lum is a leader in Boston’s mobile advertising sector, having co-founded or held a key position in three such startups—m-Qube (acquired by VeriSign), Quattro Wireless (bought by Apple), and Adelphic (recently purchased by Time subsidiary Viant). She … Continue reading “Veering Off Topic With Adelphic Co-founder Jennifer Lum”
Sarepta CEO Kaye Announces Plans to Resign
Sarepta Therapeutics (NASDAQ: [[ticker:SRPT]]) president and CEO Ed Kaye will resign on Sept. 20 “or some other future date” and will stay on as a board member and advisor afterwards, according to a regulatory filing. Kaye, Sarepta’s former chief medical officer, stepped in when ex-CEO Chris Garabedian resigned in 2015 and steered the company towards … Continue reading “Sarepta CEO Kaye Announces Plans to Resign”
Bio Roundup: Trumpcare Flails, Spinraza Sales, Batten OK & More
To judge the first 100 days of a new administration is, as many pundits have pointed out, an odd vestige of history, more convenient than significant. Which is why we’ll start this week’s roundup with our 99-day evaluation of the Trump administration—at least when it comes to healthcare and the life sciences. In healthcare, nothing … Continue reading “Bio Roundup: Trumpcare Flails, Spinraza Sales, Batten OK & More”