[Updated 1/31/17, 7:40 pm. See below.] Carbonite is making more moves to bolster its offerings in cloud backup and data protection. The Boston-based firm (NASDAQ: [[ticker:CARB]]) said it acquired Double-Take Software for $65.25 million, which includes $59.75 million in cash and $5.5 million in the form of about 332,000 shares of Carbonite common stock. The … Continue reading “Carbonite Pays $65M for Double-Take, a Fraction of Its 2010 Cost”
Telkonet Unveils Connected Thermostat as Smart Devices Proliferate
Telkonet, a Waukesha, WI-based company that helps configure Internet networks and devices that run on them, says it has introduced a new wireless thermostat. The device, known as “EcoTouch+ Battery,” is the latest product in the company’s EcoSmart product line. It features an occupancy sensor that activates the thermostat’s touch-screen display when someone is nearby, … Continue reading “Telkonet Unveils Connected Thermostat as Smart Devices Proliferate”
Purdue Foundry Helps University-Bred Startups Find Path to Market
Greg Deason, the Purdue Foundry’s senior vice president and director of innovation and entrepreneurship, has been in the technology transfer business a long time. Before coming to the Foundry, which is the entity tasked with ushering startups spun out of the university’s research and inventions to market, Deason spent 20 years building Purdue’s five research … Continue reading “Purdue Foundry Helps University-Bred Startups Find Path to Market”
Clal Biotechnology Names Julian Adams Chief Science Officer, President
Life sciences investment firm Clal Biotechnology Industries has named Julian Adams its chief science officer and president. Tel Aviv, Israel-based Clal has a portfolio of 15 biotech and medical device companies. Adams will oversee the firm’s office in Cambridge, MA. Adams’s experience includes roles at Infinity Pharmaceuticals and Millennium Pharmaceuticals.
Investors Sour on Data Debut For Dimension’s Hemophilia Gene Therapy
Despite the early and in some cases stunning results produced by gene therapy treatments in handfuls of hemophilia patients, significant questions remain about their durability, safety, and how broadly they’ll be used if they are ultimately shown to work. The first human data produced by Dimension Therapeutics, one of several companies developing hemophilia gene therapies, … Continue reading “Investors Sour on Data Debut For Dimension’s Hemophilia Gene Therapy”
Datto Buys Open Mesh to Build Out Networking Business
New England data-protection firm Datto is pushing deeper into IT networking technologies with the acquisition of Open Mesh. Terms of the deal weren’t disclosed in Tuesday’s announcement. Open Mesh makes hardware and cloud-based software that it says enables IT professionals to implement secure wireless networks more quickly and cheaply than traditional networks. Open Mesh will … Continue reading “Datto Buys Open Mesh to Build Out Networking Business”
WorkFusion Using $35M in New Cash to Expand in Business Automation
WorkFusion, a New York-based artificial intelligence startup focused on improving companies’ back-end operations through machine learning, recently wrapped up a $35 million funding round, the company announced last week. Led by Georgian Partners and supported by Mohr Davidow Ventures, iNovia, Nokia Growth Partners, Greycroft, and RTP Ventures, the Series D round brings the AI firm’s … Continue reading “WorkFusion Using $35M in New Cash to Expand in Business Automation”
Still No Official Word From Biopharma Groups About Trump Travel Ban
Four days after President Donald Trump issued an order to temporarily ban U.S. entry for people from seven Muslim-majority countries—and for all refugees—the drug industry’s two main lobbying groups have remained silent, even while individual executives in the industry have voiced opposition. The main life science trade group in California has also stayed on the … Continue reading “Still No Official Word From Biopharma Groups About Trump Travel Ban”
Seres Dissects Failed Microbiome Drug Trial, Suggests Changes to FDA
The workings of the trillions of microbes that colonize our bodies—known collectively as the human microbiome—are still very much a mystery to scientists. Seres Therapeutics found that out firsthand when its first experimental microbiome drug, for a dangerous bacterial infection, failed a clinical trial last year, sending its shares into a freefall. Since that time, … Continue reading “Seres Dissects Failed Microbiome Drug Trial, Suggests Changes to FDA”
In Bid to Go National, Court Innovations Launches Capital Campaign
Court Innovations, a startup spun out of the University of Michigan’s law school, has steadily grown since it publicly launched in 2015. The company, whose software helps people resolve traffic tickets and other minor civil infractions online or via smartphone app, is using an innovative new model to raise capital as it prepares to expand. … Continue reading “In Bid to Go National, Court Innovations Launches Capital Campaign”
Agenus Names Jean-Marie Cuillerot New Chief Medical Officer
Agenus (NASDAQ: [[ticker:AGEN]]) has appointed Jean-Marie Cuillerot chief medical officer of the immuno-oncology company. Cuillerot joined Cambridge, MA-based Agenus last year as vice president and global head of clinical development. His experience includes roles at Merck Serono and Bristol-Myers Squibb (NYSE: [[ticker:BMY]]).
Ex-Xerox CTO Vandebroek Named Chief Operating Officer of IBM Research
When I last spoke to Sophie Vandebroek in December, it was for a kind of exit interview as she prepared to leave her longtime job as Xerox’s CTO and head of its worldwide research organization. We went over highlights of her Xerox tenure, her outlook on key technology trends for 2017 and beyond—the Internet of … Continue reading “Ex-Xerox CTO Vandebroek Named Chief Operating Officer of IBM Research”
FibroGen Pushes Forward With Anemia Pill in China, But Big Test Awaits
The race to treat kidney disease patients’ anemia with a pill, rather than an injectable biologic, continues. FibroGen this morning announced positive interim results from two Phase 3 trials that could support the first approval application for its anemia pill, roxadustat, in China. But longer studies that could prove how safe the drug is are … Continue reading “FibroGen Pushes Forward With Anemia Pill in China, But Big Test Awaits”
Driverless Cars, UW Spinouts, & CRISPR: This Week’s WI Watchlist
Stay current on news from Wisconsin’s innovation community with these recent headlines: —The U.S. Department of Transportation selected the University of Wisconsin-Madison as one of 10 “proving ground” pilot sites where researchers will test and share information on technologies underpinning driverless cars and trucks. Some of the testing will happen in the Madison area, but … Continue reading “Driverless Cars, UW Spinouts, & CRISPR: This Week’s WI Watchlist”
Texas Roundup: Comey at SXSW, CTAN, RealCo, Fannin, “Trump and Dump”
Let’s catch up with the latest innovation news from Xconomy Texas. —The slow pace of a research environment—not to mention a couple of ER trips for “lab-related accidents,” sent Erik Halvorsen down a career path in technology transfer. Halvorsen, who now directs the Texas Medical Center’s Innovation Institute, speaks about that journey, how commercialization became … Continue reading “Texas Roundup: Comey at SXSW, CTAN, RealCo, Fannin, “Trump and Dump””
Cybersecurity in 2017: Goal, Illusion, or Oxymoron?
Here at the (relative) beginning of 2017, we can safely say that the previous year was among the most significant in history from a cybersecurity standpoint. Nation-state actions, in the form of the assumed Russian interference in the U.S. elections (especially the presidential race) and in the leaks of e-mails from the Clinton campaign, dominated … Continue reading “Cybersecurity in 2017: Goal, Illusion, or Oxymoron?”
Meet the 15 New Early-Stage Venture Funds in Boston Tech: Slideshow
[Updated 2/6/17, 5:15 pm. See notes in photo slideshow.] Boston’s venture investing community looks a lot different today than it did just two years ago. A new crop of venture funds has emerged to back the next wave of technology startups and, as Xconomy observed last year, perhaps change the way companies get funded and … Continue reading “Meet the 15 New Early-Stage Venture Funds in Boston Tech: Slideshow”
Non-Profit Aims For Market Transparency In K-12 Edtech Purchases
Teachers were not only the earliest adopters of educational technology. They were also savvy consumers of it, sharing tips on social media about the best free apps they’d found. Now edtech is a big business, and school districts are spending billions on purchases of tablets, laptops, and educational software. But the districts haven’t been so … Continue reading “Non-Profit Aims For Market Transparency In K-12 Edtech Purchases”
Seattle Week in Review: UW Gets $279M, Cow Sharing, Techstars & More
Seattle’s role as a capital for global health was highlighted again this week when the Bill & Melinda Gates Foundation announced a historic grant to a key University of Washington population health effort. We’re also rounding up a handful of recent early-stage funding rounds for area companies pursuing cow-sharing, healthcare IT, and water metering. And, … Continue reading “Seattle Week in Review: UW Gets $279M, Cow Sharing, Techstars & More”
Southeast Michigan Women’s Entrepreneur-YOU Conference
Inforum, the Michigan Women’s Foundation, and Walsh College host this annual event designed to teach women entrepreneurs about the resources necessary and available to open, run, and grow a business. For details and registration, click here.
Purdue Spinout VinSense Brings Big Data to the Terroir
Although the juice of fermented grapes has been a popular libation for centuries, wine is having a bit of a pop culture moment. Millennials apparently can’t get enough of the stuff. According to Beverage Dynamics, they quaffed 159.6 million cases of wine in 2015, while Baby Boomers sipped just over 114 million. And, perhaps inspired … Continue reading “Purdue Spinout VinSense Brings Big Data to the Terroir”
Northwestern Mutual VC Fund Leader Discusses Investment Approach
Earlier this month, Northwestern Mutual announced it would invest $50 million in early stage companies over the next several years. The Milwaukee-based life insurance and financial services firm says the new fund, Northwestern Mutual Future Ventures, will invest $500,000 to $3 million apiece in startups. According to the fund’s website, so far it has invested … Continue reading “Northwestern Mutual VC Fund Leader Discusses Investment Approach”
Novan Acne Drug Hits Targets in One Late-Stage Trial, Fails Another
Initial results are in for two late-stage clinical trials testing Novan’s experimental acne drug, and it’s a mixed bag. The topical gel hit all of its goals in one Phase 3 trial but fell short in a second, separate study. While Morrisville, NC-based Novan (NASDAQ: [[ticker:NOVN]]) tries to figure out why the two studies on … Continue reading “Novan Acne Drug Hits Targets in One Late-Stage Trial, Fails Another”
Bio Roundup: Trump News, Anthem’s Stand, Diversity by 2056 & More
It was a wild week in biotech and on Capitol Hill. A new study showed it may take another 40 years to achieve gender parity in public biotech boardrooms. Tensions continued to mount between drugmakers and payers over the rising costs of rare disease drugs. A flurry of deals took place, headlined by Johnson & … Continue reading “Bio Roundup: Trump News, Anthem’s Stand, Diversity by 2056 & More”
Five Questions For … Erik Halvorsen of TMC’s Innovation Institute
Houston—With one year of medical school down, Erik Halvorsen was well on his way to becoming a doctor when a realization struck him: He didn’t actually want to treat patients. “I was much more interested in asking questions and I wanted to find answers to things that people never did before,” he says. So, instead … Continue reading “Five Questions For … Erik Halvorsen of TMC’s Innovation Institute”
Jounce Gets $102M As Biotech IPOs Gain Steam in ’17
Jounce Therapeutics has gone ahead of its projections and raised roughly $102 million in an IPO, continuing an early, yet successful trend for biotechs trying to go public in 2017. The Cambridge, MA, company sold close to 6,365,000 shares at $16 apiece, almost 1 million more shares than it proposed to sell a few weeks … Continue reading “Jounce Gets $102M As Biotech IPOs Gain Steam in ’17”
Mallinckrodt Filing Pegs Stratatech Deal at $76M, Could Reach $197M
[Updated 1/27/17, 6:49 pm. See below.] The sale of Stratatech, a Madison, WI-based maker of human skin tissue, to Mallinckrodt Pharmaceuticals in August cost the company $76 million in cash, according to a filing submitted to federal securities regulators. In addition, U.K.-based Mallinckrodt (NYSE: [[ticker:MNK]]) could be on the hook for another $121 million in … Continue reading “Mallinckrodt Filing Pegs Stratatech Deal at $76M, Could Reach $197M”
Techstars Picks 9 Startups For Seattle, Complementing Local Strengths
Techstars has named nine startup companies for its 2017 Seattle accelerator class, each with a focus that complements one of the region’s core or emerging technology strengths. Techstars Seattle managing director Chris DeVore says this deliberate matching of startup companies to strengths in the local tech industry is meant to “give the teams we select … Continue reading “Techstars Picks 9 Startups For Seattle, Complementing Local Strengths”
AnaptysBio Adds More Shares, Raises $75M in Stock Market Debut
AnaptysBio is the first U.S. biotech company to go public this year, raising $75 million in an IPO intended to finance development of antibody-based drugs for inflammatory disorders. The San Diego-based company sold 5 million shares at $15 apiece—in line with the $14 to $16 per share range it set earlier this month—and is now … Continue reading “AnaptysBio Adds More Shares, Raises $75M in Stock Market Debut”
Boston Tech Watch: IBM, Adelphic, Mylestoned, Everbridge & More
[Updated 1/26/17, 2:42 pm. See below.] This week in Boston tech, we’re tracking a string of acquisitions, funding rounds, and more. The moves include an acquisition by IBM Security, more funding for a telecom technology company that has raised $200 million-plus from investors, more money for “deathtech” startup Mylestoned, and the reaction of a local … Continue reading “Boston Tech Watch: IBM, Adelphic, Mylestoned, Everbridge & More”
Well Beyond Care Wins CTAN-Rice Alliance Pitch Competition in Austin
Austin—A group of early stage startups pitched to a movie theater full of attorneys, investors, and others in the Austin, TX startup world for a chance to win funding from the Central Texas Angel Network, ATX Seed Ventures, Aquila Commercial, and Corsa Ventures. Of the 10 pitches, one winner was picked: Well Beyond Care, an … Continue reading “Well Beyond Care Wins CTAN-Rice Alliance Pitch Competition in Austin”
Cellectar Awarded Another Cancer Drug Patent
[Updated 1/26/17, 1:15 pm. See below.] The U.S. Patent and Trademark Office has awarded Cellectar Biosciences a patent on two cancer drugs the company is developing, including its lead drug candidate, according to the company. Madison, WI-based Cellectar (NASDAQ: [[ticker:CLRB]]) says the patent covers the use of its lead drug candidate, CLR 131, for treating … Continue reading “Cellectar Awarded Another Cancer Drug Patent”
Polish Subsidiary of San Antonio Firm Gets $4.6M for Endometriosis
San Antonio — A subsidiary of Evestra, a San Antonio life sciences company focused on women’s health, has received a $4.6 million grant to develop an experimental drug for endometriosis, a painful condition related to overgrowth of tissue in the uterus. Evestra Onkologia Sp., Evestra’s Polish-based subsidiary that’s focused on oncology therapeutics, is using the … Continue reading “Polish Subsidiary of San Antonio Firm Gets $4.6M for Endometriosis”
Just Four Months After Series A, Delinia Sells to Celgene For $300M
It didn’t take long for startup Delinia to entice a big drug developer: Just over four months after emerging from stealth and raising a Series A round, the company, developing drugs for a range of autoimmune diseases, has been acquired by Celgene. Celgene (NASDAQ: [[ticker:CELG]]) will pay $300 million up front to buy Cambridge, MA-based … Continue reading “Just Four Months After Series A, Delinia Sells to Celgene For $300M”
Connected Cars, Cheap Rides, Deadlines to Apply & More MI Tech News
Here’s a look at tech and innovation news from around Michigan: —A University of Michigan startup called Cart is piloting a new service that offers low-cost rides to Detroit residents who want to go grocery shopping. Shoppers that live within five miles of one of Meijer’s two Detroit locations can pay $10 for a round-trip ride … Continue reading “Connected Cars, Cheap Rides, Deadlines to Apply & More MI Tech News”
WEDC Awards $500K As Part Of Entrepreneurship Support Program
The Wisconsin Economic Development Corp. (WEDC) said this week that it gave grants worth a combined $500,000 to 11 nonprofits based in the state as part of a program aimed at improving Wisconsin’s entrepreneurial climate. (Disclosure: WEDC is a supporter of Xconomy in Wisconsin, but our coverage is determined independently by our editors.) Four of the grants support … Continue reading “WEDC Awards $500K As Part Of Entrepreneurship Support Program”
RealCo Accelerator Opens in San Antonio for Internet Tech Startups
San Antonio—There is a new startup accelerator in San Antonio that provides early stage funding, mentorship, and more for business-to-business Internet tech companies. RealCo’s accelerator program lasts up to 15 months and offers startups as much as $125,000 in early operating capital for a small equity stake in return. The accelerator is led by partners … Continue reading “RealCo Accelerator Opens in San Antonio for Internet Tech Startups”
Inspired by NFL Teammate, Aethlon Seeks Diagnostic for Brain Injuries
Just as the NFL marketing machine is stoking the build-up to Super Bowl LI, a San Diego diagnostic company headed by a former Denver Broncos player has unveiled plans for a new clinical study of traumatic brain injuries among retired NFL players. Exosome Sciences, a subsidiary of San Diego’s Aethlon Medical (NASDAQ: [[ticker:AEMD]]), said today … Continue reading “Inspired by NFL Teammate, Aethlon Seeks Diagnostic for Brain Injuries”
KenSci Raises $8.5M, Delves into Data to Predict Who Will Get Sick
Seattle healthcare IT startup KenSci has a tagline that helps simplify the company’s audacious aims: Death versus data science. Unpack that a little bit and you’ll find a company—banging its drum Wednesday with an $8.5 million Series A funding round led by Ignition Partners—that’s combing of-the-moment machine learning technology and mountains of data to attack … Continue reading “KenSci Raises $8.5M, Delves into Data to Predict Who Will Get Sick”
Degreed, CodeFights Ready Alternative Credentials To Rival Diplomas
Two San Francisco educational technology startups that don’t offer classes, MOOCs, or other online coursework are nevertheless preparing to issue credentials that, like a college degree, may help learners land a job. Degreed and CodeFights are among the companies adding new twists to the ecosystem of alternative credentials, which are proliferating as the edtech sector … Continue reading “Degreed, CodeFights Ready Alternative Credentials To Rival Diplomas”
Purdue’s On Target Laboratories Lights Up the Fight Against Cancer
I have something in common with Sumith Kularatne, vice president of research and development for On Target Laboratories: We both lost our grandfathers to cancer at an early age. My grandpa, William Bobier, had colon cancer back in the days before regular colonoscopies were a standard part of preventative care. During the oppressively humid summer … Continue reading “Purdue’s On Target Laboratories Lights Up the Fight Against Cancer”
Redox Raises $9M to Help Developers Plug Into Health Records Systems
Redox, a Madison, WI-based startup that develops digital tools that enable healthcare applications to access data from electronic health records systems, says it has raised $9 million from investors. New York-based RRE Ventures led the Series B financing. Other participants in the funding round included return backers .406 Ventures (in Boston), HealthX Ventures (Madison), and … Continue reading “Redox Raises $9M to Help Developers Plug Into Health Records Systems”
Anthem Caps Coverage Of Biogen Spine Drug Despite Wide FDA Approval
One of the nation’s major health insurers has placed limitations on access to the first-ever approved drug for the rare spinal muscular atrophy, validating patient fears that the high price tag of the drug, nusinersen (Spinraza), might make it hard for some with the disease to get treatment. Indianapolis-based Anthem (NYSE: [[ticker:ANTM]]) has disclosed its … Continue reading “Anthem Caps Coverage Of Biogen Spine Drug Despite Wide FDA Approval”
New StockTwits CEO Looks to Expand Share of Investor Community
If you do a Google search for AAPL, the stock ticker for Apple, the top search results are typically Yahoo Finance, Twitter, Google Finance—and StockTwits, a social media communications platform for Wall Street traders and active retail investors. After taking over roughly six months ago, StockTwits CEO Ian Rosen made one of his first strategic … Continue reading “New StockTwits CEO Looks to Expand Share of Investor Community”
Report: Biotech VCs Perpetuate Boardroom Gender Gap
If power in the business world is centered in the boardroom, women in biotech have a long way to go to get their fair share—and the venture community deserves much of the blame. That’s according to British recruitment firm Liftstream and its new study of biotech companies that went public in the recent boom years. … Continue reading “Report: Biotech VCs Perpetuate Boardroom Gender Gap”
EquipmentShare Gets $26M to Leverage Data Analytics in Construction
Dallas—EquipmentShare, a data analytics and software startup geared to the construction industry, has raised $26 million in funding. The investment round was led by Insight Venture Partners and existing investor Romulus Growth, with participation from Y Combinator, another previous investor. The money will be used to expand its geographic reach and further develop new products. … Continue reading “EquipmentShare Gets $26M to Leverage Data Analytics in Construction”
Armed with $16M, Cue Biopharma Aims for Selective Immunotherapy
Among the challenges with cell therapy in cancer treatment are the side effects caused by the body itself. While prompting the immune system’s T cells to target cancer has shown potential to be effective, these experimental approaches can also trigger immune reactions that harm patients, says Daniel Passeri, president and CEO of Cue Biopharma. Cue … Continue reading “Armed with $16M, Cue Biopharma Aims for Selective Immunotherapy”
Fresh Off Another Banner Year, U-M Tech Transfer Looks Ahead to 2017
In 2016, the University of Michigan’s Office of Technology Transfer, which is tasked with bringing the school’s inventions and startups to market, had another banner year: $23 million in licensing revenues and a record 173 licensing agreements. With fresh leadership at U-M’s Venture Center; programs stoking innovation, such as Train the Trainers; and an increasing … Continue reading “Fresh Off Another Banner Year, U-M Tech Transfer Looks Ahead to 2017”
Stemina, Abele, Stem Pharm, & IoT: This Week’s Wisconsin Watchlist
Catch up on news from Wisconsin’s innovation community with these recent headlines: —A blood test developed by Madison-based Stemina Biomarker Discovery that would help determine whether children with autism disorder are able to process certain foods or vitamin supplements could become available in the next year, the Wisconsin State Journal reported. NeuroPointDX, a division of … Continue reading “Stemina, Abele, Stem Pharm, & IoT: This Week’s Wisconsin Watchlist”
Ex-FDA Commish Califf Gives Props to Patient Groups—With Caveats
The nation’s former Food and Drug Administration commissioner Robert Califf, appearing for the first time since he resigned last week, told a Silicon Valley crowd this morning that the FDA will have to be flexible in coming years, allowing greater patient input into drug evaluation and leaning on outside watchdogs for help weeding out “imposters.” … Continue reading “Ex-FDA Commish Califf Gives Props to Patient Groups—With Caveats”