Is a caution flag flying? While U.S. venture firms refueled last year by raising a near-record $51.6 billion, they also eased off the throttle in terms of their investment activity during the first quarter of 2017, according to data released today by Seattle-based PitchBook and the National Venture Capital Association (NVCA). According to the latest … Continue reading “Slowdown Continues in First-Quarter VC Funding—and Top 10 Deals”
Qumulo, Led by Isilon Execs, Raises $30M to Push Data Storage Sales
Qumulo’s founders, leadership team, and investors are all betting that the Seattle data storage technology provider can deliver a repeat of another local success story—and now they’ve got $30 million in fresh funding riding on it. The five-year-old company brings together many of the same people who built Isilon Systems, a data storage company that … Continue reading “Qumulo, Led by Isilon Execs, Raises $30M to Push Data Storage Sales”
Curvo Labs Aims to Help Hospitals Make Better Purchasing Decisions
Throughout his career working in the hospital supply chain, Curvo Labs CEO Andy Perry has seen a lot of changes. In the past decade, in particular, the rise of value-based reimbursement policies and new technologies have altered the way hospitals make purchases. In the past, it was up to the sales people at innovative medical … Continue reading “Curvo Labs Aims to Help Hospitals Make Better Purchasing Decisions”
Speaker Lineup Takes Shape for “What’s Hot in Cancer Immunotherapy 2017”
Three years ago, Xconomy assembled a lineup of experts to discuss the emerging treatments that use the immune system to fight cancer. Join us in Seattle this June as we take another look at cancer immunotherapy. We’ll review the progress made so far and highlight how new approaches to treatment could help patients. Confirmed speakers … Continue reading “Speaker Lineup Takes Shape for “What’s Hot in Cancer Immunotherapy 2017””
With New Debt Round, Madison Startup Kiio Passes $5M in Funding
Most people are familiar with the concept of performing a series of rehabilitation exercises after having surgery. But far fewer have likely heard of “pre-habilitation” exercise regimens, which are assigned to patients before they go under the knife. The idea has gained traction due to changes in how the government reimburses hospitals and clinics for … Continue reading “With New Debt Round, Madison Startup Kiio Passes $5M in Funding”
Tour of Texas: Austin Tech in Politics, Watershed, Scaleworks & More
Let’s get caught up with the latest innovation news from Xconomy Texas. Austin: —Ottobock, a German prosthetics company with North American headquarters in Austin, has acquired Boston-based BionX Medical Technologies. BionX makes a prosthetic foot and ankle product that uses robotic technology. Financial terms were not disclosed for the deal that was announced earlier this … Continue reading “Tour of Texas: Austin Tech in Politics, Watershed, Scaleworks & More”
Stealthy San Diego-based Viracta Steps Into Light with $18.5M
Viracta Therapeutics, a San Diego anti-cancer biotech that has been operating below the radar for nearly two years, is today disclosing an initial closing on what could amount to as much as $18.4 million in Series B financing. Viracta plans to use the proceeds to advance its lead drug candidate into mid-stage trials for treating … Continue reading “Stealthy San Diego-based Viracta Steps Into Light with $18.5M”
Ex-Allergan Exec, Patel, Takes Head Seat at Relay Therapeutics
Cambridge, MA-based Relay Therapeutics has named Sanjiv Patel, Allergan’s former chief strategy officer, its CEO. Patel takes over for interim CEO and Third Rock Ventures partner Alexis Borisy, whose firm combined with D.E. Shaw to put $57 million into Relay in September. Borisy now chairs Relay’s board of directors.
Agenda Posted for Xconomy’s Human Impact of Innovation on April 19
We have posted the agenda for Human Impact of Innovation, which happens on April 19 at The Illumina Theater at the Alexandria Torrey Pines in San Diego. Xconomy is convening this meeting with leaders from academia and industry to talk about some big innovations that are expected to bring major changes on people’s lives. Machine … Continue reading “Agenda Posted for Xconomy’s Human Impact of Innovation on April 19”
Angionetics Nears Key Gene Therapy Trial for Coronary Heart Disease
Christopher Reinhard will tell you there is nothing unusual about the 20-plus years he’s spent getting an experimental heart therapy to late-stage clinical trials. “Very rarely will you get a short story on development of a drug,” said Reinhard (above), who is a principal investor and the CEO of San Diego-based Angionetics. Two decades “is … Continue reading “Angionetics Nears Key Gene Therapy Trial for Coronary Heart Disease”
Boston Startup Exit Data Show Region’s Shift From Tech to Healthcare
The Boston area has become arguably the best place in the world to start a biotech company. Meanwhile, the region is still a leading tech hub, but its stature has diminished somewhat in recent years, with many of the most successful and well-known software companies getting built on the West Coast. That’s the narrative you’ll … Continue reading “Boston Startup Exit Data Show Region’s Shift From Tech to Healthcare”
With Fresh Pneumonia Data, Paratek To Seek 2018 Antibiotic Approval
The need for new antibiotics to battle drug-resistant bacteria is rising, and Paratek Pharmaceuticals has news that could give doctors a new weapon. Boston-based Paratek (NASDAQ: [[ticker:PRTK]]) reports that its antibiotic, omadacycline, has hit all its main and secondary goals in a study of 774 patients with hospital-acquired pneumonia. It is the second of two … Continue reading “With Fresh Pneumonia Data, Paratek To Seek 2018 Antibiotic Approval”
Sarepta Appoints Catherine Stehman-Breen Chief Medical Officer
Catherine Stehman-Breen is moving to Sarepta Therapeutics (NASDAQ: [[ticker:SRPT]]) to become the Cambridge, MA, company’s chief medical officer. Stehman-Breen previously served as vice president of clinical development and regulatory affairs for Regeneron Pharmaceuticals (NASDAQ: [[ticker:REGN]]), a Tarrytown, NY, biotech. Before joining Regeneron in 2015, Stehman-Breen held several posts at Amgen (NASDAQ: [[ticker:AMGN]]).
William Polvino Named CEO of Bridge Medicines
Drug discovery firm Bridge Medicines has appointed William Polvino CEO. Polvino most recently served as president and CEO of Denmark-based Veloxis Pharmaceuticals (NASDAQ: [[ticker:VELO]]), and ran Helsinn Therapeutics before that. Bridge, based in New York, launched last October to extend the work of the non-profit Tri-Institutional Therapeutics Discovery Institute. With Polvino’s appointment, Bridge says interim … Continue reading “William Polvino Named CEO of Bridge Medicines”
Cydan, NEA’s Orphan Drug Experiment, Pays Off in $200M Vtesse Deal
Four years into its existence, Cydan Development, New Enterprise Associates’ orphan drug startup accelerator, has notched its first big win. Vtesse, the first company to emerge from Cydan, has been sold in a deal valued at $200 million. Sucampo Pharmaceuticals (NASDAQ: [[ticker:SCMP]]), a Rockville, MD-based maker of a drug to treat various bowel conditions, will … Continue reading “Cydan, NEA’s Orphan Drug Experiment, Pays Off in $200M Vtesse Deal”
New Blood: Biotech CEOs Bring Fresh Experience to Houston Ecosystem
Houston—A number of Houston biotech companies have new leadership at the helm. These leadership changes include a few executives like Lonnel Coats, CEO of Lexicon Pharmaceuticals (NASDAQ: [[ticker:LXRX]]), who have relocated to Houston from the East and West coasts—homes of more established and successful biotech ecosystems. “We had the ability to move the company to … Continue reading “New Blood: Biotech CEOs Bring Fresh Experience to Houston Ecosystem”
Vecna Reorganizes, Pushes Logistics Robots in Hot Market
Vecna, a longtime developer of robotics and other technologies, has over the past year reorganized itself into three separate businesses as it seeks outside investment for the first time, says co-founder Daniel Theobald. The company is starting to talk with potential investors about backing its logistics robots business, Theobald says. That business sells various types … Continue reading “Vecna Reorganizes, Pushes Logistics Robots in Hot Market”
To Infinity and Beyond: Julian Adams on Missteps and His New Job
Julian Adams left Boston pharma Millennium Pharmaceuticals in 2003 having accomplished a rare feat. A medicinal chemist by training, Adams helped shepherd along a drug known as bortezomib (Velcade) that was the first-ever approved inhibitor of the proteasome, the cell’s garbage disposal unit. It was an approach most people thought would never work. “Everybody was … Continue reading “To Infinity and Beyond: Julian Adams on Missteps and His New Job”
How Battling New Epidemics Helps Fight Age-Old Killers
Washington state has reported nearly 300 cases of mumps this winter and experts predict this may be the state’s worst flu season in years, a stark reminder of how dangerous even familiar viruses can be. While the Ebola and Zika outbreaks have dominated the headlines in recent years, they are part of a paradigm we … Continue reading “How Battling New Epidemics Helps Fight Age-Old Killers”
Telkonet, Wantable, Marquette, & More: This Week’s WI Watchlist
March into April by staying current on news from Wisconsin’s innovation community, starting with these recent headlines: —Telkonet, a Waukesha-based company that develops hardware and software to connect machines to the Internet, and to each other, sold one of its business divisions to Syosset, NY-based DCI-Design Communications. The price paid for the business unit, which is … Continue reading “Telkonet, Wantable, Marquette, & More: This Week’s WI Watchlist”
Trump’s Anti-Environment Policies Don’t Deter Northwest Innovators
There were local antidotes this week for those who see global catastrophe in the Trump administration’s attempts to reverse course on federal policies combatting climate change. On Thursday, scores of science, engineering, and business students from around the Pacific Northwest pitched their ideas for improving the performance of batteries, recycling food scraps, filtering and conserving … Continue reading “Trump’s Anti-Environment Policies Don’t Deter Northwest Innovators”
MS Drug Patent Rulings Give Biogen Win, Acorda Loss in Separate Suits
Biogen has won a patent case concerning its top-selling multiple sclerosis drug, allowing the company to keep exclusive rights on the pill without paying royalties to a European biotech that made claims on the drug. But in a separate case also decided today, Acorda Therapeutics lost four patents covering its flagship drug, a potentially significant … Continue reading “MS Drug Patent Rulings Give Biogen Win, Acorda Loss in Separate Suits”
Robo Madness 2017: The Photos and Takeaways
Third time’s a charm… and our third annual Robo Madness conference in Boston had plenty of that. (So did the first two.) From live robot demos to provocative discussions on the opportunities and challenges in artificial intelligence, our speakers really delivered on this year’s theme: A.I. Gets Real. Huge thanks to our host, Google, whose … Continue reading “Robo Madness 2017: The Photos and Takeaways”
Five Questions For … Hesam Panahi, Rice University Entrepreneurship Lecturer
Houston—Entrepreneurship runs in the Panahi family, so it’s little wonder that Hesam Panahi now teaches the subject to undergraduates. “Both of my parents were entrepreneurs,” he says. “That, I think, was a huge influence to me. It made me realize that I didn’t have to necessarily go to a 9-to-5 job, which led me to … Continue reading “Five Questions For … Hesam Panahi, Rice University Entrepreneurship Lecturer”
Bio Roundup: New Drug Bonanza, Vertex’s Triple Play, CAR-T Race & More
As far as singular weeks go for biotech, this was a big one. Three highly anticipated drugs were approved. One is the first injectable medication for eczema. Another might help fend off the recurrence of ovarian cancer. And a third offers hope for people with severe forms of multiple sclerosis. Another drug, a new combination … Continue reading “Bio Roundup: New Drug Bonanza, Vertex’s Triple Play, CAR-T Race & More”
Catalia’s Big-Eyed Robots Soon Will Nudge Patients To Take Their Meds
Cory Kidd discovered during a graduate school project at MIT Media Lab that patients are more likely to follow doctor’s orders if they get the nudge from a talking robot, rather than the same reminder from an animated character on a computer screen. That research, and his further health robotics work, prompted Kidd to found … Continue reading “Catalia’s Big-Eyed Robots Soon Will Nudge Patients To Take Their Meds”
Promentis Pharmaceuticals Completes $26M Financing to Advance CNS Drug
[Updated 3/31/17, 12:03 pm. See below.] Promentis Pharmaceuticals, a Milwaukee-based developer of drugs designed to modify brain chemistry to treat central nervous system disorders, has raised $26 million from investors, the company said Thursday. The Series C financing round was led by three firms, Promentis said: Aisling Capital and OrbiMed, both based in New York, and Cambridge, … Continue reading “Promentis Pharmaceuticals Completes $26M Financing to Advance CNS Drug”
WI Corporate Venture Funds Say They Bring Startups More Than Money
For a tech startup seeking to raise venture capital, there can be benefits to accepting an investment from the VC arm of a large corporation, rather than a traditional, standalone venture firm. For example, doing so might allow the startup to tap into the larger organization, whose employees and customers could use the technology and … Continue reading “WI Corporate Venture Funds Say They Bring Startups More Than Money”
Echo Raises $7.5M to Meet Big Orders for Hybrid Digital Microscope
Echo, a San Diego startup that has developed a digital, all-in-one microscope, says today it has closed on $7.5 million in a Series A round led by San Francisco-based Dolby Family Ventures and Southern California’s Tech Coast Angels. In a phone interview this afternoon, founder Eugene Cho (the E.Cho in Echo) tells me the three-year-old … Continue reading “Echo Raises $7.5M to Meet Big Orders for Hybrid Digital Microscope”
Progress Buys DataRPM for $30M to Build “Cognitive” Business Apps
[Updated 4/3/17, 4:39 pm. See below.] Progress Software, a 36-year-old software company, is pushing into machine learning and connected device technologies with its $30 million acquisition of DataRPM, a privately held firm based in Redwood City, CA. The deal is the first acquisition made by new Progress CEO Yogesh Gupta, who took the helm in … Continue reading “Progress Buys DataRPM for $30M to Build “Cognitive” Business Apps”
Michigan State University Innovation Celebration
MSU showcases innovative technologies and startups developed in campus labs, classrooms, and beyond at this networking reception. For more information, click here.
Fuzic Combines Music and On-Demand Marketing to Engage Customers
Before Brent Oakley co-founded Fuzic, an Indianapolis-based marketing technology startup, he owned carwashes. He wanted to make his customers happy, so he installed cafes in his carwashes, hoping that he’d be able to chat with his patrons while they sipped beverages and learn more about what they wanted out of a carwash. When that didn’t … Continue reading “Fuzic Combines Music and On-Demand Marketing to Engage Customers”
Venture Firm’s Incubator Watershed Buys Biomedical Product Developer
San Antonio—Watershed Idea Foundry, a life science incubator operated by a San Antonio venture capital firm, has acquired a similar product development and commercialization business, Encinitas, CA-based Additive Innovations. Watershed, which offers startups services such as proof-of-concept testing and prototype manufacturing in exchange for equity, is keeping its name but making Additive’s founder Nick Cordaro … Continue reading “Venture Firm’s Incubator Watershed Buys Biomedical Product Developer”
Carbonite Raises $125M to Pay Off Debt, Scout Acquisitions
Carbonite, a publicly traded cloud backup and data protection firm, is raising $125 million from investors to pay off debt and restock its war chest. The Boston-based company (NASDAQ: [[ticker:CARB]]) announced it’s conducting a private offering of convertible senior notes to institutional investors. The initial buyers have a 30-day option to purchase an additional $18.75 million … Continue reading “Carbonite Raises $125M to Pay Off Debt, Scout Acquisitions”
Xconomy IMPACT: Innovation That Matters
So many companies want to “change the world,” but how do you build something that makes a real difference? Advances in sectors like machine intelligence, connected devices, and healthcare are poised to transform human jobs and lives. But, especially in today’s political climate, technology and business leaders must also navigate—and find ways to influence—policy areas … Continue reading “Xconomy IMPACT: Innovation That Matters”
Boston Scientific to Acquire Heart Device Maker Symetis for $435M
[Updated 3/30/17, 2:12 pm. See below.] Boston Scientific is acquiring Swiss company Symetis, the latest move made by the medical device giant to strengthen its portfolio of minimally invasive heart valve replacement products. Marlborough, MA-based Boston Scientific (NYSE: [[ticker:BSX]]) will pay $435 million in upfront cash to Symetis. With the deal in place, Symetis has … Continue reading “Boston Scientific to Acquire Heart Device Maker Symetis for $435M”
Third Rock’s Tango Aims For Drugs That Turn Cancer Against Itself
As the understanding of cancer advances, scientists are discovering built-in features of the disease’s own biology that can be tapped to halt its growth. Biotech startup Tango Therapeutics believes it can build on this concept to develop new cancer drugs, and it is now unveiling its approach, backed by $55 million in financing. The Series … Continue reading “Third Rock’s Tango Aims For Drugs That Turn Cancer Against Itself”
Next Stop on Father’s Duchenne Quest: Wall Street? Solid Raises $50M
It wasn’t too long ago that Ilan Ganot was a J.P. Morgan banker. Then his son, Eytani, was diagnosed with Duchenne muscular dystrophy, and he ended up the head of a startup trying to find an array of treatments for the progressive, deadly genetic disease. Now it appears that journey might return Ganot to a … Continue reading “Next Stop on Father’s Duchenne Quest: Wall Street? Solid Raises $50M”
Running with the Pack: Rover.com Acquiring Rival DogVacay
In a dog-eat-dog deal, Seattle-based dog-care services marketplace Rover.com is acquiring its largest competitor, DogVacay, the companies announced Wednesday. Terms of the acquisition were not disclosed. The combined company will be headquartered in Seattle and maintain the Rover brand. Aaron Easterly, CEO of Rover, will continue in that role while DogVacay CEO Aaron Hirschhorn will … Continue reading “Running with the Pack: Rover.com Acquiring Rival DogVacay”
A3: Automation is a Tool for Job Growth, But Better Training Needed
Southeast Michigan’s Association for Advancing Automation (A3) is one of the hosts of the biennial Automate conference happening next week in Chicago, and organizers say this year’s edition is expected to be the biggest yet, drawing more than 20,000 attendees. In anticipation of the event, A3, a trade group promoting automation, has produced a white … Continue reading “A3: Automation is a Tool for Job Growth, But Better Training Needed”
With FDA Approval, Genentech Drug Becomes First For Severe MS Cases
The FDA has approved a new Genentech multiple sclerosis drug, ocrelizumab (Ocrevus), that will become the first ever marketed therapy for the most severe form of the disease. Multiple sclerosis comes in different forms characterized by the severity and progression of the disease. While many drugs are available to treat MS, up until now, none … Continue reading “With FDA Approval, Genentech Drug Becomes First For Severe MS Cases”
Mary Lou Jepsen, Moonshots, and the Human Impact of Innovation
As expressions go, “moonshot” has recently been gaining a lot of popularity in the media vernacular. Many folks assume that it arose with NASA’s Apollo 11 mission to the moon. But it’s a matter of debate. The Dickson Baseball Dictionary, for example, credits commentator Vin Scully for inventing the term to describe the soaring home … Continue reading “Mary Lou Jepsen, Moonshots, and the Human Impact of Innovation”
Global Detroit Champions for Growth Summit
Global Detroit, Techtown Detroit, Techstars, the Michigan Economic Center, and Venture for America co-host this summit to discuss the importance of mobilizing Southeast Michigan’s immigrant potential for a prosperous economic future. Brad Feld, co-founder of Techstars, will be the keynote speaker via video conferencing. Panel discussions will also be held about attracting international talent and … Continue reading “Global Detroit Champions for Growth Summit”
ViaCyte Working with Gore to Improve its Synthetic Pancreas Device
San Diego-based ViaCyte said today it is collaborating with W.L. Gore & Associates, the privately held company that makes Gore-Tex fabrics, medical devices, and other products, in a bid to improve its stem cell-derived treatment for diabetes. Under their collaborative research agreement, ViaCyte said it will work with Gore to develop a next-generation version of … Continue reading “ViaCyte Working with Gore to Improve its Synthetic Pancreas Device”
Ottobock Buys Boston-Based “Active” Prosthetic Maker BionX
BionX Medical Technologies, a Boston-area company that makes a prosthetic foot and ankle product that uses robotics technology, has been acquired by Ottobock, a German prosthetics company with North American headquarters in Austin, TX. The deal was announced earlier this month. Financial terms weren’t disclosed, so it’s hard to tell how good an outcome it … Continue reading “Ottobock Buys Boston-Based “Active” Prosthetic Maker BionX”
Under Spotlight, Uber Reveals Lack of Diversity And Pledges Change
In the latest step to patch up its reputation after a series of hits this year, Uber released a gender and ethnic diversity report on the company today and promised to make its predominantly white, male staff more inclusive. The San Francisco-based ride-hailing giant says men make up 63.9 percent of its total global employees, … Continue reading “Under Spotlight, Uber Reveals Lack of Diversity And Pledges Change”
With New Data, Vertex Touts Backbone Of Future Cystic Fibrosis Drugs
With new data released this evening, Vertex Pharmaceuticals is closer to bringing its third cystic fibrosis treatment to market, which would mean the company’s product line could potentially treat upwards of 40 percent of the roughly 70,000 people with the disease worldwide. The late-stage data for the combination of ivacaftor, already approved as Kalydeco, and … Continue reading “With New Data, Vertex Touts Backbone Of Future Cystic Fibrosis Drugs”
Gener8tor Announces Latest Mini-Accelerator Classes, Pitch Event
The Wisconsin-based startup accelerator Gener8tor earlier this week unveiled the 10 startups currently participating in gBETA, a free, six-week program managed by Gener8tor. The companies are split evenly between two programs. One is taking place in Beloit, WI, the first time gBETA has been held in that city. The other program is in Madison, WI. … Continue reading “Gener8tor Announces Latest Mini-Accelerator Classes, Pitch Event”
Amazon Grows Middle East Footprint With Souq Acquisition
Spreading its empire to the Middle East, Amazon is buying Souq.com, a leading e-commerce marketplace in the region. The deal was disclosed Tuesday but reported by multiple sources last week. The companies did not announce terms. Reuters, citing unnamed sources, reported that Amazon paid less than an $800 million last-minute counteroffer made for Dubai-based Souq … Continue reading “Amazon Grows Middle East Footprint With Souq Acquisition”
FDA OKs Eczema Injection; Owners Regeneron, Sanofi Set $37K Price
For the more severe cases of eczema—inflamed skin that can range from annoying dry patches to painful swelling, oozing, and cracking—there’s a new injectable medicine on the market that will cost tens of thousands of dollars a year. The FDA approved today dupliumab (Dupixent) for adults whose condition cannot be controlled with topical creams. The … Continue reading “FDA OKs Eczema Injection; Owners Regeneron, Sanofi Set $37K Price”