Farming has always been a data-intensive business but digital approaches to record keeping are starting to take root with more farmers. Agtech startup FarmLogs aims to capitalize on the trend, and it now has $22 million in additional financing to support those efforts. New investor Naspers Ventures led the round Series C round of financing. … Continue reading “Agtech Startup FarmLogs Harvests $22M From Naspers-Led Series C Round”
Venture Investment in Seattle Area Companies Falls 27 Percent in 2016
Two quarters do not make a trend, but the Seattle metro area bucked a national downturn in venture capital investment during the second half of 2016, as measured by both deals and dollars invested. For the year, however, 2016 was down significantly from 2015 in the Seattle-Tacoma-Bellevue metro area, according to data from Seattle-based PitchBook … Continue reading “Venture Investment in Seattle Area Companies Falls 27 Percent in 2016”
VC Activity in Boston Dipped in 2016; Here Are the Top 10 Deals & Exits
Venture investments in Boston-area companies dipped in 2016, amid a slowdown in VC activity nationwide that some observers are calling a “return to normalization” after an investing frenzy in the previous two years. In the fourth quarter of 2016, Boston-area companies took in about $1.2 billion from investors via 132 deals. That was down from … Continue reading “VC Activity in Boston Dipped in 2016; Here Are the Top 10 Deals & Exits”
Biopharma Leaders Call for Gender Diversity Amid J.P. Morgan Conference
A group of more than 100 prominent life sciences executives, investors, and business leaders have signed an open letter calling on the industry to step up efforts to increase gender diversity. The letter was published Wednesday, on the second to last day of the annual J.P. Morgan healthcare conference in San Francisco (see full letter … Continue reading “Biopharma Leaders Call for Gender Diversity Amid J.P. Morgan Conference”
Correlation Ventures Raises $200M, Maintains Its “Moneyball” Strategy
Correlation Ventures, a co-investing venture firm that uses analytic software to optimize its decisions, said today it has raised $200 million for its oversubscribed second fund. The firm, which has offices in San Diego, Palo Alto, and New York, said it now has $366 million in assets under management. Investors in the fund include college … Continue reading “Correlation Ventures Raises $200M, Maintains Its “Moneyball” Strategy”
Trump Slams Drug Companies, Says Medicare “Bidding” Is Coming
Oh, the power of a Donald Trump sound bite. On the campaign trail and as president-elect he has made occasional noises about drug pricing—giving the U.S. Medicare system, the largest buyer of drugs in the world, the right to negotiate prices, for instance. This morning, in his first press conference, Trump went further. He said … Continue reading “Trump Slams Drug Companies, Says Medicare “Bidding” Is Coming”
Vertex Deals Cancer Drugs to Merck KGaA for $230M, Following Plan
[Updated 1/23/17, 3:17 p.m. See below.] Vertex Pharmaceuticals is unloading a group of ancillary research programs in its portfolio, announcing today it will out-license the potential cancer treatments to Darmstadt, Germany-based Merck KGaA. Merck KGaA is paying Boston-based Vertex $230 million up front for the drug candidates, which include experimental clinical-stage cancer therapies that target … Continue reading “Vertex Deals Cancer Drugs to Merck KGaA for $230M, Following Plan”
Takeda, Maverick Therapeutics Enter $125M Cancer Therapy Partnership
Takeda Pharmaceutical, aiming to bolster its cancer drug pipeline, has signed on Maverick Therapeutics to a $125 million partnership for developing new immunotherapy treatments. The funding for Brisbane, CA-based Maverick includes an upfront option, a $23 million Series B investment, and cash for research and development. At the end of the five-year deal, Takeda has … Continue reading “Takeda, Maverick Therapeutics Enter $125M Cancer Therapy Partnership”
EzCater Gobbles $35M From Iconiq Capital, Insight Venture Partners
[Updated 1/11/17, 11:46 a.m. See below.] Boston online food-ordering company ezCater has hauled in another big venture capital round. Today the company announced a $35 million investment led by new backer Iconiq Capital; Insight Venture Partners, a previous ezCater investor, also chipped in. EzCater says it has raised $70 million in total venture capital, including … Continue reading “EzCater Gobbles $35M From Iconiq Capital, Insight Venture Partners”
GrocerKey Parlays Woodman’s Success Into New Sales, Raises $700K
Jeremy Neren founded Madison, WI-based GrocerKey in 2014 to help introduce grocers to e-commerce and create online replicas of their physical stores. In mid-2015, Neren told Xconomy he was talking with dozens of supermarket chains around the country about using his startup’s software. GrocerKey has since converted a number of prospects into paying customers, and … Continue reading “GrocerKey Parlays Woodman’s Success Into New Sales, Raises $700K”
Edtech Venture Funding Down in 2016, But Still Tops $1B
While we’re looking at venture deal numbers from the past year, let’s consider the education technology industry, which isn’t broken out by sector in the general reports I’ve seen. A recent study by EdSurge, an edtech information firm, shows venture funding for U.S. education tech companies totaled $1.03 billion (across 138 deals) in 2016. Those … Continue reading “Edtech Venture Funding Down in 2016, But Still Tops $1B”
Dropped Call? San Antonio’s Carnegie Technologies May Have An Answer
San Antonio — Like many in this tech-addicted world, I often fill the time I spend walking from my home to point B by reading e-mails or making a call. But that is inevitably interrupted, albeit briefly, by a confusion that consumes my phone when it disconnects from my home’s broadband WiFi network. The phone can’t … Continue reading “Dropped Call? San Antonio’s Carnegie Technologies May Have An Answer”
At Allergan And Other Pharmas, Price Transparency Has Limits
The first test of pharmaceutical giant Allergan’s promise to behave responsibly came last week. The firm acknowledged price hikes on several drugs that stayed—sometimes barely—under the 10 percent limit that CEO Brent Saunders pledged last September, in what he called a “social contract with patients.” In an interview at the annual J.P. Morgan healthcare investment … Continue reading “At Allergan And Other Pharmas, Price Transparency Has Limits”
Mobile App Firm Apperian Sold to Arxan as Security Demand Grows
Apperian, one of the early companies to build mobile applications for large enterprises, has been acquired by app-security firm Arxan. The purchase price wasn’t disclosed, so it’s hard to tell how good an outcome this is for Apperian and its investors. The Boston-based firm had raised just shy of $40 million from investors, including FirstFloor … Continue reading “Mobile App Firm Apperian Sold to Arxan as Security Demand Grows”
VC Activity Continues Slowdown in Fourth Quarter, and Top 10 Deals
Venture capital firms didn’t exactly take their foot off the accelerator, but the pace of VC investments continued to weaken in the three months that ended in December, extending a slowdown that began in July, according to two venture reports issued today. The deceleration followed a strong start to venture activity during the first half … Continue reading “VC Activity Continues Slowdown in Fourth Quarter, and Top 10 Deals”
Pain Drug Developer Adynxx Picks Up $16M for Another Clinical Trial
Despite the wide range of pain relievers available, many patients find these drugs fall short of easing pain after surgery and during rehabilitation. Drug developer Adynxx is trying to address that pain with a new treatment developed to be administered to patients during surgery. The San Francisco-based biotech now has $16 million to continue testing … Continue reading “Pain Drug Developer Adynxx Picks Up $16M for Another Clinical Trial”
Zillow’s $5M Gift Powers UW CSE Building Toward Construction Start
[Updated 1/11/17 10:18 am. See below.] Construction on the University of Washington’s second computer science building could start as soon as Friday if the university’s leadership approves a bridge loan of up to $25 million to finance the project while remaining anticipated private contributions materialize. Those private contributions have come in large, highly-touted chunks, and lower-profile … Continue reading “Zillow’s $5M Gift Powers UW CSE Building Toward Construction Start”
Austin Biotech Xeris Names Edick CEO, Raises $41M in Series C Round
Austin—Xeris Pharmaceuticals, an Austin biotech, has raised $41 million in a Series C funding round and named a new CEO. Paul Edick has replaced Douglas Baum, as president and CEO of the company, which is developing a glucagon solution and injection device (G-Pen) for the treatment of severe hypoglycemia. Edick most recently had been CEO … Continue reading “Austin Biotech Xeris Names Edick CEO, Raises $41M in Series C Round”
CEO Kaye Details Insurance Battle As Sarepta Launches Duchenne Drug
Sarepta Therapeutics CEO Ed Kaye described Tuesday the ups and downs the Cambridge, MA, company has had as it tries to roll out eteplirsen (Exondys 51), the first-ever approved drug for Duchenne muscular dystrophy. At the JP Morgan Healthcare Conference in San Francisco, Kaye told attendees that more than 250 patients with the progressive, deadly … Continue reading “CEO Kaye Details Insurance Battle As Sarepta Launches Duchenne Drug”
Xconomy’s EXOME Presents: What’s Hot in Boston Biotech
After a 2016 filled with extreme highs and lows, biotech is in for yet another bumpy ride in 2017. Obamacare’s future is uncertain. The 21st Century Cures Act is in place. Changes loom at the FDA, drug pricing remains a flashpoint, and the IPO market continues to sputter. Yet through it all, critical biotech advances … Continue reading “Xconomy’s EXOME Presents: What’s Hot in Boston Biotech”
Mortara To Be Sold To Chicago Holding Company For $330M
Mortara Instrument, a Milwaukee-based medtech company, says it has been acquired by Hill-Rom Holdings, of Chicago, for $330 million in cash. Mortara’s product line includes electrocardiograph machines and other medical devices used to monitor patients. One of Hill-Rom’s (NYSE: [[ticker:HRC]]) holdings is Welch Allyn, a manufacturer of medical diagnostic equipment based in Skaneateles Falls, NY, … Continue reading “Mortara To Be Sold To Chicago Holding Company For $330M”
Kaminario Snags $75M as Big Money Flows Into Flash Storage
New year, new funding for data storage companies in the Boston area. The latest beneficiary is Needham, MA-based Kaminario, which today announced it received $75 million from investors. Private equity firm Waterwood led the round, with contributions from Sequoia, Pitango Venture Capital, Lazarus, Silicon Valley Bank, and Globespan Capital Partners. Kaminario said it has raised … Continue reading “Kaminario Snags $75M as Big Money Flows Into Flash Storage”
Texas Roundup: HTC, Indigo, DEC, Rakesh Agrawal, Piko, & Top of 2016
Let’s catch up with the latest innovation news from Texas. —The Houston Technology Center has tapped Lori Vetters, a longtime commercial banker and civic leader, to become its next CEO. Vetters takes over the 17-year-old incubator from Walter Ulrich, a business consultant who led the center for nearly a decade. During that time, the innovation … Continue reading “Texas Roundup: HTC, Indigo, DEC, Rakesh Agrawal, Piko, & Top of 2016”
Xerox’s PARC Gets A New CEO: Tolga Kurtoglu
Xerox, which is taking its traditional printing business into the digital age with new products such as smart labels, is also re-configuring its business units and drawing on in-house talent to fill some top spots. In a promotion shuffle that began in late December, one plum Bay Area job opened up—the chief executive officer’s post … Continue reading “Xerox’s PARC Gets A New CEO: Tolga Kurtoglu”
Detroit Expansions, Tumor Sequencing, and More Local Innovation News
Here’s a look at innovation news from around Michigan: —Avomeen Analytical Services, a research and chemical testing lab based in Ann Arbor, was recently acquired by High Street Capital. The terms were not disclosed. The 22-person company, which launched in 2010, does R&D and chemical analysis for customers in a variety of sectors, including pharma, manufacturing, … Continue reading “Detroit Expansions, Tumor Sequencing, and More Local Innovation News”
Protecting America’s Tech Prowess Amid the Hostile Rhetoric of 2017
With the inauguration of Donald Trump as president on January 20th, the editors asked some of our Xconomists to offer their thoughts on “How could the incoming administration significantly affect your industry?” My biggest concern would be a failure to recognize and take full advantage of the fact that America’s biggest asset is its technological … Continue reading “Protecting America’s Tech Prowess Amid the Hostile Rhetoric of 2017”
LiveOak Gives Infocyte $3.4M Series A For ‘Threat-Hunting’ Software
San Antonio—[Updated 1/10/17, 10:57 a.m. See below.] Infocyte, a San Antonio cybersecurity company that uses a so-called threat-hunting method to seek out hidden or dormant hackers before any malicious software can strike, has raised a $3.4 million Series A round of funding led by Austin, TX-based LiveOak Venture Partners. Infocyte plans to use the funding … Continue reading “LiveOak Gives Infocyte $3.4M Series A For ‘Threat-Hunting’ Software”
Boston Tech Watch: iRobot Backs Sense, Lola Grabs Cash, & More
[Updated 1/10/17, 11:28 am. See below.] Now that we’re settling into 2017, it’s time for a recap of some of the year’s early happenings in the Boston tech scene: —Diffeo said it acquired Meta Search for an undisclosed price. Cambridge, MA-based Diffeo provides software that it says acts as a sort of personal research assistant … Continue reading “Boston Tech Watch: iRobot Backs Sense, Lola Grabs Cash, & More”
Exact Sciences Boosted By Investors, As Analysts Eye Profitability
For Exact Sciences, could a long journey to reach profitability—21 years and counting—be nearing a close? Madison-based Exact (NASDAQ: [[ticker:EXAS]]), which received regulatory approval for its flagship stool-based DNA screening test for colorectal cancer in 2014, posted better-than-expected results in the fourth quarter of 2016, according to preliminary numbers released Sunday. The company said it completed … Continue reading “Exact Sciences Boosted By Investors, As Analysts Eye Profitability”
J&J, NY State to Form Biotech Incubator in Big Apple’s Genome Center
New York State Governor Andrew Cuomo is planning to use some of the cash from his recently announced $650 million biotech initiative on Manhattan’s biggest life sciences problem—lack of lab space. Cuomo will put $17 million in state funding towards a new biotech startup incubator that will be situated in the New York Genome Center … Continue reading “J&J, NY State to Form Biotech Incubator in Big Apple’s Genome Center”
Celgene Pays Anokion $45M for Autoimmune Research, Option to Buy
Celgene hasn’t been afraid to strike deals with early stage biotech companies and the Summit, NJ-based drug developer is at it again, this time entering a research partnership with Anokion in autoimmune diseases. Under the deal announced Monday, Celgene (NASDAQ: [[ticker:CELG]]) is paying Anokion $45 million up front. Anokion, which is based in Lausanne, Switzerland … Continue reading “Celgene Pays Anokion $45M for Autoimmune Research, Option to Buy”
Arrowhead Nets $9.6M Investment From U.K.-Based Silence Therapeutics
Silence Therapeutics, a publicly traded biotech firm based in the U.K., said it has made a $9.6 million equity investment in Arrowhead Pharmaceuticals. Silence said it acquired about 8.4 percent of the outstanding shares of common stock in Arrowhead (NASDAQ: [[ticker:ARWR]]), which is based in Pasadena, CA, but houses its research and development team in … Continue reading “Arrowhead Nets $9.6M Investment From U.K.-Based Silence Therapeutics”
Allergan, Eying More Neurodegenerative Drugs, Gets Right to Buy LTI
Allergan now has the right to acquire Lysosomal Therapeutics, a Cambridge, MA-based drug developer for Parkinson’s disease seeking to exploit the link between neurodegeneration and a family of rare genetic disorders. The Dublin-based pharmaceutical giant purchased an option right to acquire Lysosomal Therapeutics (LTI) after LTI completes a Phase 1b trial for its lead drug, LTI-291. … Continue reading “Allergan, Eying More Neurodegenerative Drugs, Gets Right to Buy LTI”
Noncompetes, Wine Clubs, Broadband, & More: This Week’s WI Watchlist
Gyms are swarming with people, temperatures are dropping below zero, and the Green Bay Packers are alive in the NFL playoffs—it must be January in Wisconsin. Make it a resolution to stay plugged into the state’s innovation community, starting with these recent headlines: —Wisconsin could be hurting itself in its effort to spur more entrepreneurship by … Continue reading “Noncompetes, Wine Clubs, Broadband, & More: This Week’s WI Watchlist”
Takeda to Buy Ariad in $5.2B Move to Build Up Cancer Drug Portfolio
[Updated 1/9/17, 11:56 am. See below.] Ariad Pharmaceuticals has agreed to be acquired by Takeda Pharmaceutical in a deal that values the Cambridge, MA-based cancer drug developer at about $5.2 billion. Under the all-cash agreement, Osaka, Japan-based Takeda will acquire all of Ariad’s (NASDAQ: [[ticker:ARIA]]) outstanding shares for $24 each, a nearly 75 percent premium … Continue reading “Takeda to Buy Ariad in $5.2B Move to Build Up Cancer Drug Portfolio”
Houston Technology Center Chooses Banker, Civic Leader as New CEO
Houston—Lori Vetters, a longtime Houston commercial banker, has been selected as the next CEO of the Houston Technology Center. Vetters, most recently the head of HSBC’s regional bank based in Houston, becomes the first woman to lead HTC, which serves as an incubator for young tech companies. “I spent 30 years in the business community … Continue reading “Houston Technology Center Chooses Banker, Civic Leader as New CEO”
Indigo’s Microbial Treatment for Cotton Reaps Gains in Crop Yields
Drought presents challenges to cotton farmers in West Texas and this past growing season was no exception. But despite periods of moderate to severe drought in the region, some farmers reported higher crop yields after using a microbial treatment that helped their cotton plants hold up better in dry weather. Cotton plants treated with the … Continue reading “Indigo’s Microbial Treatment for Cotton Reaps Gains in Crop Yields”
New Bain Investor Yumin Choi on Obamacare’s Future, Surviving Cancer
Bain Capital Ventures has a new person leading its healthcare investments. Yumin Choi has joined the firm as a managing director, after a decade as a partner at HLM Venture Partners, a Boston-based, healthcare-focused venture firm. Choi has a deeper, more personal understanding of the healthcare industry than most investors. Two years ago, the 33-year-old … Continue reading “New Bain Investor Yumin Choi on Obamacare’s Future, Surviving Cancer”
Smart Voice Assistants Will Spread From Talking Devices To Apps in 2017
Millions of consumers who used to type their search questions on a laptop or the tiny keys of a smartphone are now simply telling a tabletop device what they want. Signs are that the Amazon Echo and Google Home—both equipped with smart voice assistants—will turn out to be blockbuster sellers of the holiday gift season … Continue reading “Smart Voice Assistants Will Spread From Talking Devices To Apps in 2017”
Merrimack Hits Reset Button, Sells Cancer Drugs to Ipsen For $575M
Merrimack Pharmaceuticals is starting off the year with significant changes. The Cambridge, MA, company has decided to sell its only marketed products—a pair of cancer drugs—to pay off debt and invest in a new set of experimental medicines. French pharmaceutical company Ipsen has bought Merrimack’s rights to the nanoparticle pancreatic cancer drug Onivyde and its … Continue reading “Merrimack Hits Reset Button, Sells Cancer Drugs to Ipsen For $575M”
Seattle Week in Review: Alexa, Rosetta, Alaska Airlines, Cuba
The deep freeze is forecast to relent this weekend, just in time for playoff football. Go Seahawks! Today we’re looking back at stories on Alexa, Amazon’s voice-activated, cloud-connected personal assistant technology, which had a very good week at CES and, more people are realizing, could represent a new operating system for the growing wave of … Continue reading “Seattle Week in Review: Alexa, Rosetta, Alaska Airlines, Cuba”
A Year After CEO’s Departure, Quintessence Remains ‘Dormant’
A Madison, WI-based cancer drug development company is in a holding pattern as it searches for a new leader to replace the chief executive who departed early last year. Quintessence Biosciences has been without a CEO since Ralph Kauten, one of Wisconsin’s more successful biotech entrepreneurs, resigned in early 2016, Kauten says. Kauten, who continues to … Continue reading “A Year After CEO’s Departure, Quintessence Remains ‘Dormant’”
PatientsLikeMe Nabs $100M, Works to Advance Personalized Medicine
PatientsLikeMe has spent the past 13 years building a vast online network of patients with chronic diseases—more than 500,000 people with over 2,700 conditions—who share experiences and health information with each other and with healthcare professionals. The idea is to connect patients and help them better understand their diseases and perhaps find ways to improve … Continue reading “PatientsLikeMe Nabs $100M, Works to Advance Personalized Medicine”
Scangos Surfaces to Lead New Infectious Disease Startup, Vir Biotech
George Scangos, who stepped down from the top spot at Biogen late last year, didn’t take long to land a new gig. He is now CEO of Vir Biotechnology, a biotech startup developing treatments for infectious diseases. The move to Vir brings Scangos (pictured) back to the San Francisco area, where he led Exelixis (NASDAQ: … Continue reading “Scangos Surfaces to Lead New Infectious Disease Startup, Vir Biotech”
Foundation, Roche Deepen Ties as Genentech Vet Steps in for CEO Pellini
[Updated, 2:37 pm ET] Two years ago, almost to the day, Foundation Medicine celebrated its biggest announcement ever. Roche had just paid more than $1 billion for a majority stake in the cancer diagnostics company in a sweeping collaboration that sent Foundation’s shares to all-time highs. Fast forward to today, and Cambridge, MA-based Foundation (NASDAQ: … Continue reading “Foundation, Roche Deepen Ties as Genentech Vet Steps in for CEO Pellini”
Five Questions For … SnapStream Founder & CEO Rakesh Agrawal
Houston—Houston-based entrepreneur Rakesh Agrawal is the founder and CEO of the media tech startup SnapStream, which has developed technology capable of recording television programs and combing through them in order to flag specific words or phrases identified by customers. For example, SnapStream’s tools allow one of its customers, “The Daily Show,” to mine congressional hearings … Continue reading “Five Questions For … SnapStream Founder & CEO Rakesh Agrawal”
Bio Roundup: Biogen Price Fears, A Grail Billion, Hellos, Byes & More
Happy new year, everyone. Are you all strapped in? Tray tables in the locked and upright position? As Bette Davis once said, “It’s going to be a bumpy night.” The news from Washington is already coming fast and furious. The effort to repeal Obamacare is underway, spawning more perspectives and opinions than a postmodern Japanese … Continue reading “Bio Roundup: Biogen Price Fears, A Grail Billion, Hellos, Byes & More”
Families Fret As Insurers Mull Biogen’s $750K Spine Disease Drug
This past Christmas weekend, Ana Memedovich had her best two days in more than a decade. Her 23-year-old son Mikhail has spinal muscular atrophy, or SMA, a rare genetic disease that has slowly robbed him of the ability to walk and function independently. On Dec. 23, the FDA approved nusinersen (Spinraza), the first-ever drug for … Continue reading “Families Fret As Insurers Mull Biogen’s $750K Spine Disease Drug”
Biopharma Industry, Heal Thyself (Without Government Help)
With the inauguration of Donald Trump as president on January 20th, the editors asked some of our Xconomists to offer their thoughts on “How could the incoming administration significantly affect your industry?” The life sciences industry has one problem: Lack of productivity. When it figures out how to consistently make a profit discovering and developing drugs … Continue reading “Biopharma Industry, Heal Thyself (Without Government Help)”
Neon Therapeutics Garners $70,000,000 Series B Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=1676734f-3acc-487c-b243-0435ea2abc54 Date 1/6/2017 Company Name Neon Therapeutics Mailing Address 215 First Street Cambridge, MA 02142 USA Company Description We have assembled a team of world experts in cancer immunotherapy to develop therapies that target abnormal proteins called neoantigens, which are produced by cancer cells. Website http://www.neontherapeutics.com Transaction Type Venture Equity Transaction Amount … Continue reading “Neon Therapeutics Garners $70,000,000 Series B Round”