Catherine Stehman-Breen is joining Obsidian Therapeutics as chief development officer. She was most recently an entrepreneur in residence at Atlas Venture, where she held the chief medical officer positions at Dyne Therapeutics and Disarm Therapeutics, two of the venture capital firm’s portfolio companies. Stehman-Breen’s experience also includes posts at Sarepta Therapeutics (NASDAQ: [[ticker:SRPT]]), Regeneron Pharmaceuticals … Continue reading “Obsidian Appoints Stehman-Breen Chief Development Officer”
As Castle Bio Jumps on IPO Train, Industry Trends Suggest Slowdown
Castle Biosciences is joining the public markets through a $64 million IPO that will support cancer tests that help doctors make treatment decisions. On Wednesday evening, Castle priced its offering of 4 million shares at $16 apiece, which was the high end of its targeted price range. The Friendswood, TX, company had previously planned to … Continue reading “As Castle Bio Jumps on IPO Train, Industry Trends Suggest Slowdown”
Jeff Leiden, Who Shaped Vertex Into a CF Force, to Switch Roles
Jeff Leiden, who helped steer Vertex Pharmaceuticals out of a crisis and into a profitable developer of cystic fibrosis medicines, will step down as the CEO of the Boston company next spring. In a surprising announcement, Vertex (NASDAQ: [[ticker:VRTX]]) said Thursday morning that Leiden (pictured), who has run the company for about seven years, will … Continue reading “Jeff Leiden, Who Shaped Vertex Into a CF Force, to Switch Roles”
Livongo Upsizes IPO to $355M in Bid to Become Netflix of Health
Livongo Health, a digital health company developing devices and software to help patients manage treatment for diabetes and other chronic conditions, said it expects to net $355.2 million in an initial public offering. Mountain View, CA-based Livongo late Wednesday priced its offering of approximately 12.7 million shares of its common stock at $28 per share. … Continue reading “Livongo Upsizes IPO to $355M in Bid to Become Netflix of Health”
Bristol, With Another Lung Cancer Flop, Loses More Ground to Merck
Bristol-Myers Squibb (NYSE: [[ticker:BMY]]) this afternoon revealed yet another setback for its cancer immunotherapy nivolumab (Opdivo) in lung cancer, boosting the outlook for rival Merck. The New York pharma giant said that a regimen of nivolumab (Opdivo) and chemotherapy failed to extend the lives of non-squamous, non-small cell lung cancer patients compared to chemo alone … Continue reading “Bristol, With Another Lung Cancer Flop, Loses More Ground to Merck”
50 Photos From Net@50: The Roots and Future of the Internet
Last week marked a historic occasion. As the world commemorated the 50th anniversary of humankind setting foot on the moon for the first time, Xconomy and the World Frontiers Forum convened an incredible group at the MIT Media Lab to celebrate another monumental achievement a half century ago: the birth of the internet. The Net@50 … Continue reading “50 Photos From Net@50: The Roots and Future of the Internet”
Connect All Startup Accelerator Seeks New Cohort of Diverse Founders
The first business accelerator program in southeast San Diego is accepting applications for its second cohort of entrepreneurs, who would start the program in fall. The six-month program, called Connect All @ the Jacobs Center, is run by Connect, a longstanding local organization that for years has supported startups through its flagship tech and life … Continue reading “Connect All Startup Accelerator Seeks New Cohort of Diverse Founders”
The Entrepreneurial Potential of Cannabis
Recreational marijuana is now legal here in Massachusetts and it seems that everywhere you look, people are excited to create business ventures around it. But, like any other business endeavor, research, planning, and discipline are essential – maybe even more so given the legal and regulatory issues involved with cannabis. As of now, marijuana is fully legal … Continue reading “The Entrepreneurial Potential of Cannabis”
Freenome Snags $160M to Boost Blood Test for Early Cancer Detection
Freenome, one of the rivals racing to detect the earliest signs of cancer through blood tests, announced Wednesday it has raised $160 million in a Series B funding round. The money boosts Freenome’s fundraising total to $238 million. It’s a boon for the South San Francisco startup founded in 2014, but not an unusual haul … Continue reading “Freenome Snags $160M to Boost Blood Test for Early Cancer Detection”
TScan Lands $48M for Better, Safer T-Cell Receptor Cancer Therapies
Despite the progress of therapies that coax the immune system to fight cancer, these treatments don’t work for all patients. When they are effective, some patients experience serious side effects. TScan Therapeutics CEO David Southwell says his company aims to improve cancer immunotherapy on both fronts. TScan’s research is still in the lab, but the … Continue reading “TScan Lands $48M for Better, Safer T-Cell Receptor Cancer Therapies”
Turnkey, TrustRadius, Homeward, Geekdom, Ion, GasMob, & More TX Tech
Let’s catch up with the latest innovation news in Texas. —Turnkey Vacation Rentals, an Austin-based company founded in 2013, has raised $48 million to expand to new markets and further develop its technology. The round was led by Altos Ventures, with participation from existing investors including Adams Street Partners, Greenspring Associates, and Harmony Partners. Turnkey … Continue reading “Turnkey, TrustRadius, Homeward, Geekdom, Ion, GasMob, & More TX Tech”
Proteostasis Names Gilmartin Chief Medical Officer, Succeeding Lee
Geoffrey Gilmartin is taking on a new role at Proteostasis Therapeutics (NASDAQ: [[ticker:PTI]]) as its chief medical officer. He will succeed Po-Shun Lee, who will become a consultant to the Boston-based cystic fibrosis (CF) drug developer after serving in the CMO role for the past four years. Gilmartin joined Proteostasis in 2016 as chief development … Continue reading “Proteostasis Names Gilmartin Chief Medical Officer, Succeeding Lee”
With Regulator’s Nod, Bosch Plans Spread of Driverless Valet Parking
Mass fleets of self-driving cars have yet to arrive on our streets, but people are already worrying about where they’re going to park. If they all just circle around city blocks, competing to offer on-demand rides, they could slow traffic to a crawl, industry observers say. Autonomous robotaxi services like Alphabet unit Waymo’s are still … Continue reading “With Regulator’s Nod, Bosch Plans Spread of Driverless Valet Parking”
WI Watchlist: E-Scooters, CUNA Incubator, Curate Funding & More
[Updated 7/23/19, 8:48 am CT. See below.] It’s time to catch up on some recent Wisconsin innovation headlines: —CMFG Ventures, the venture capital arm of Madison-based CUNA Mutual Group, announced today that it’s creating a financial technology incubator in partnership with the nonprofit Filene Research Institute, a consumer finance think tank. The incubator is seeking … Continue reading “WI Watchlist: E-Scooters, CUNA Incubator, Curate Funding & More”
Healthtech Investor Flare Capital Raises $255M for Second Fund
Flare Capital Partners, a Boston-based venture capital firm investing in healthcare technology, has raised $255 million for its second fund. Co-founder and general partner Michael Greeley says his focus had been to keep the new fund in the mid-sized range, large enough to make follow-on investments into companies’ later rounds, but not too large. “As … Continue reading “Healthtech Investor Flare Capital Raises $255M for Second Fund”
Moving Services Startup HireAHelper Acquired By Seattle’s Porch
HireAHelper.com, an online marketplace that links people who are moving to a new home with local movers and related services, has been acquired by Porch, which operates a marketplace that connects people with a variety of home repair and improvement services. The Seattle, WA-based acquirer says that last year it facilitated more than 2 million … Continue reading “Moving Services Startup HireAHelper Acquired By Seattle’s Porch”
Acadia Pharmaceuticals Drug Fails in Late-Stage Schizophrenia Trial
Acadia Pharmaceuticals’ treatment for Parkinson’s disease-related psychosis failed a Phase 3 trial that was studying use of the drug for schizophrenia patients who haven’t fully responded to existing therapies. The company announced the trial failure Monday after market close. Acadia (NASDAQ: [[ticker:ACAD]]) shares dropped about 4 percent on the news in after-hours trading, falling from … Continue reading “Acadia Pharmaceuticals Drug Fails in Late-Stage Schizophrenia Trial”
Microsoft’s $1B For OpenAI Aimed at Improving Azure Cloud Platform
Microsoft announced Monday it will invest $1 billion in OpenAI, a young venture that aims to democratize the benefits of artificial intelligence and software-driven automation. The Redmond, WA-based tech giant says it will work with OpenAI in coming years to enhance Microsoft’s existing cloud computing and AI platform, Azure. San Francisco-based OpenAI says it plans … Continue reading “Microsoft’s $1B For OpenAI Aimed at Improving Azure Cloud Platform”
Former Enzyvant Exec Alvin Shih Named CEO of Disarm Therapeutics
Disarm Therapeutics has appointed Alvin Shih to serve as its president and CEO. He was most recently CEO of rare disease drug developer Enzyvant. Shih’s experience also includes posts at Retrophin (NASDAQ: [[ticker:RTRX]]) and Pfizer (NYSE: [[ticker:PFE]]). Cambridge, MA-based Disarm is developing drugs that target SARM1, a protein that plays a role in nerve deterioration in … Continue reading “Former Enzyvant Exec Alvin Shih Named CEO of Disarm Therapeutics”
Software Intelligence Firm Dynatrace Aims to Raise $427M in IPO
[Updated 7/22/19, 1:15 pm: Added IPO timing and updated headline.] Enterprise software business Dynatrace plans to take in $427.2 million from its initial public offering, the Waltham, MA-based company says in a new filing that sets the terms for its intended public market debut. The company says it will sell 35.6 million shares at a potential … Continue reading “Software Intelligence Firm Dynatrace Aims to Raise $427M in IPO”
Joyn Bio Reaches Deal to Tap Into NewLeaf’s Plant Microbe Library
Joyn Bio, a biotech company developing microbes engineered for agricultural applications, is adding microbes from NewLeaf Symbiotics to its toolbox in an effort to get to market faster and expand the scope of its research. The partnership announced Monday gives Joyn access to NewLeaf’s library of plant-colonizing microbes. Joyn, which is based in Boston and … Continue reading “Joyn Bio Reaches Deal to Tap Into NewLeaf’s Plant Microbe Library”
Spine-Surgery Medtech Startup Carlsmed Merges With Imaging Company
Carlsmed, a San Diego-based medical technology company that’s developing personalized spinal implants, has merged with Precisive Surgical, a spine imaging system startup in Seattle. The combined company, which will operate in San Diego under the Carlsmed name, aims to create a platform that will use imaging recognition technology, 3D printing, and other tools to allow … Continue reading “Spine-Surgery Medtech Startup Carlsmed Merges With Imaging Company”
X·CON 2019: Digital Health Gets Real
Join Xconomy for our annual X·CON, an elite business conference at the deCordova Sculpture Park and Museum in Lincoln, MA—just outside of Boston. This year’s summit, focused on the realities of digital health, is aimed at leaders who seek answers to the industry’s most urgent questions—and want to participate in shaping its future.
Could Facebook’s Crypto Break Financial System? Congress Airs Fears
In late 2017, a federal watchdog unit assigned a working group to keep an eye on cryptocurrencies such as Bitcoin, and to sound an alert if those alternate currencies showed signs of becoming a risk to the stability of the US financial system. Soaring prices of Bitcoin and other so-called digital tokens were attracting investments … Continue reading “Could Facebook’s Crypto Break Financial System? Congress Airs Fears”
Iovance Bio Taps Roche’s Graf Finckenstein for Chief Medical Officer
Iovance Biotherapeutics (NASDAQ: [[ticker:IOVA]]) has appointed Graf Finckenstein to serve as its chief medical officer. Finckenstein comes to the San Carlos, CA, cancer drug developer from Roche, where he was global head of oncology translational medicine. His experience also includes positions at Bristol-Myers Squibb (NYSE: [[ticker:BMY]]). Iovance, which is developing a type of cancer treatment … Continue reading “Iovance Bio Taps Roche’s Graf Finckenstein for Chief Medical Officer”
Bio Roundup: Opioid Exposé, Gilead’s Gambit, Life Science IPOs & More
The opioid crisis reaches all corners of the nation, and newly released data this week revealed how the growth of the epidemic tracked with a massive increase in the production and distribution of these drugs. From 2006 to 2012, the number of pills distributed to pharmacies increased by more than 50 percent. In total, 76 … Continue reading “Bio Roundup: Opioid Exposé, Gilead’s Gambit, Life Science IPOs & More”
Boston Tech Watch: Medumo, Zilla, Armored Things, Fortify & More
The week in Boston tech news hit on all the highlights: health technology, 3D printing, crypto, blockchain, CEO moves, fintech, and plenty of venture cash. Read on for the details: —Healthcare technology startup Medumo has been acquired by Netherlands-based Philips (NYSE: [[ticker:PHG]]). The company’s patient navigation technology provides instructions and patient resources through text message … Continue reading “Boston Tech Watch: Medumo, Zilla, Armored Things, Fortify & More”
San Diego Roundup: Qualcomm, Philter, Stella Labs, VC Funding & More
Comic-Con International may be holding everyone’s attention this week, but the tech community has stayed busy amid all the action (and increased traffic). Let’s catch up with the latest tech news in San Diego. —San Diego’s AONDevices was among 10 startups selected to compete at a recent pitch competition hosted by the corporate venture capital … Continue reading “San Diego Roundup: Qualcomm, Philter, Stella Labs, VC Funding & More”
VMWare Plans to Acquire Bitfusion for Application-Enhancing Software
Austin—VMWare announced Thursday it intends to acquire Bitfusion, a startup with offices in Austin, TX and Silicon Valley that makes software aimed at optimizing the way hardware such as graphic processing units are used by applications. Terms were not disclosed. Bitfusion’s software is particularly useful for companies using artificial intelligence and machine learning technology in … Continue reading “VMWare Plans to Acquire Bitfusion for Application-Enhancing Software”
Kronos Bio Reels In $105M for Drugs That Hit “Undruggable” Targets
Kronos Bio has raised $105 million in financing to develop therapies intended to target disease-causing proteins that have so far eluded the best efforts of drug hunters. The Series A round of funding announced Thursday was led by Vida Ventures and Omega Funds. Drugs typically work by either binding to a target site on a … Continue reading “Kronos Bio Reels In $105M for Drugs That Hit “Undruggable” Targets”
Genmab, Mirum Pharma & Fulcrum Raise $653M in Wall Street Debuts
Initial public offerings took a brief summer break the week of Independence Day, but healthcare IPO activity resumed this week as three more companies joined the US public markets. Here’s a recap of the biotech companies that priced IPOs Wednesday evening. —Genmab is different from the other life science companies that joined the public markets … Continue reading “Genmab, Mirum Pharma & Fulcrum Raise $653M in Wall Street Debuts”
Pandion Therapeutics Picks Corvidia’s Rahul Kakkar for CEO
Rahul Kakkar is the new CEO of Pandion Therapeutics. He has also joined the Cambridge, MA, company’s board of directors. Kakkar was most recently chief medical officer and chief strategy officer of Corvidia Therapeutics. He succeeds Pandion founder Anthony Coyle, who is leaving the company. In other moves, Jo Viney, a founder and chief scientific … Continue reading “Pandion Therapeutics Picks Corvidia’s Rahul Kakkar for CEO”
Immusoft Taps Phylogica’s Robert Hayes as Chief Scientific Officer
Robert Hayes has been appointed chief scientific officer of Seattle-based Immusoft. Hayes joins the cell therapy developer from Phylogica, where he was chief scientific officer for the past two years. His experience also includes positions at Amgen (NASDAQ: [[ticker:AMGN]]) and Johnson & Johnson (NYSE: [[ticker:JNJ]]). Immusoft, which is developing therapies based on modifying a patient’s … Continue reading “Immusoft Taps Phylogica’s Robert Hayes as Chief Scientific Officer”
Gilead Chief Scientific Officer McHutchison and Two More to Depart
John McHutchison, chief scientific officer and head of research and development at Gilead Sciences (NASDAQ: [[ticker:GILD]]), is leaving next month, the Foster City, CA, company announced Wednesday. Gilead gave no reason for McHutchison’s decision to depart other than to say it was voluntary. McHutchison joined Gilead in 2010 and was appointed CSO in 2018, succeeding … Continue reading “Gilead Chief Scientific Officer McHutchison and Two More to Depart”
Navitor Pharmaceuticals Names Randy Owen Chief Medical Officer
Navitor Pharmaceuticals has appointed James Randall “Randy” Owen to serve as its chief medical officer, the same position he held at Acadia Pharmaceuticals. Owen’s experience also includes roles at Lundbeck, Abbott (NYSE: [[ticker:ABT]]), Merck (NYSE: [[ticker:MRK]]), and Bristol-Myers Squibb (NYSE: [[ticker:BMY]]). Cambridge, MA-based Navitor is developing drugs that target a cellular signaling pathway known as … Continue reading “Navitor Pharmaceuticals Names Randy Owen Chief Medical Officer”
San Antonio to Honor Regenerative Medicine Pioneer Stephen Badylak
San Antonio — Ah, to be able to regrow a missing limb like a slimy salamander—a trick long dreamed of by youngsters and scientists alike. Research into such regenerative abilities has increasingly excited the scientific community during the past 30 years as it has gained further insight into the potential of the extracellular matrix, a … Continue reading “San Antonio to Honor Regenerative Medicine Pioneer Stephen Badylak”
Trefoil Therapeutics Raises $28M and Eyes the Clinic for Cornea Drug
Trefoil Therapeutics, which is developing treatments for diseases that affect the cornea, the outermost layer of the eye, has raised $28 million to move its lead drug candidate into human testing. The company is developing an engineered form of fibroblast growth factor-1 proteins (FGF-1) as a treatment for corneal diseases such as Fuchs’ dystrophy, which … Continue reading “Trefoil Therapeutics Raises $28M and Eyes the Clinic for Cornea Drug”
Skyhawk Inks Deal With Genentech for Cancer and Neuro Drug Discovery
Skyhawk Therapeutics has added Genentech to the growing list of companies it’s working with to find new drugs. The deal with Genentech, a Roche subsidiary, calls for Cambridge, MA-based Skyhawk to use its technology to discover and develop RNA-targeting drugs for cancer and neurological diseases. Under the deal announced Tuesday, Genentech receives an exclusive license … Continue reading “Skyhawk Inks Deal With Genentech for Cancer and Neuro Drug Discovery”
Prenatal Testing Firm Cradle Genomics Debuts With $17M, Illumina Ties
Another company headed by former Illumina executives has launched, fueled with a $17 million Series A round from investors including a local venture capital firm. The new firm, Cradle Genomics, is seeking to commercialize improved non-invasive prenatal tests, which analyze blood from a pregnant person to determine whether a fetus will be born with an … Continue reading “Prenatal Testing Firm Cradle Genomics Debuts With $17M, Illumina Ties”
Artemis Fund, TechStars Impact, Robin Autopilot, & More TX Tech
Let’s catch up with the latest innovation news in Texas. —Mark Cuban and Serena Williams are among investors to fund maternal health startup Mahmee. The Los Angeles-based startup announced Monday it has raised $3 million from the Dallas Mavericks owner and the tennis star (through her firm Serena Ventures) in a round led by ArlanWasHere … Continue reading “Artemis Fund, TechStars Impact, Robin Autopilot, & More TX Tech”
Amperity Raises $50M for Marketing Software Used by Consumer Brands
Amperity, a Seattle-based startup developing software to help consumer-facing brands collect and manage customer data, announced Monday it has raised $50 million in new financing to add more clients in industries on which it hasn’t previously concentrated. New York-based Tiger Global Management led the Series C funding round. Other participating investors included Goldman Sachs, Madera … Continue reading “Amperity Raises $50M for Marketing Software Used by Consumer Brands”
Kymera CEO Laurent Audoly Departs, Nelllo Mainolfi Named President
Laurent Audoly, president and CEO of Kymera Therapeutics, is leaving “to pursue new entrepreneurial opportunities,” the Cambridge, MA, company announced Monday. Co-founder and chief scientific officer Nello Mainolfi has been appointed president, overseeing all company operations. He will also continue as CSO. Kymera said a search for a new CEO is underway. In other moves, … Continue reading “Kymera CEO Laurent Audoly Departs, Nelllo Mainolfi Named President”
Sanofi’s Alison Schecter Tapped as Selecta Bio Chief Medical Officer
Selecta Biosciences (NASDAQ: [[ticker:SELB]]) has appointed Alison Schecter to serve as chief medical officer. Schecter joins Watertown, MA-based Selecta from Sanofi (NYSE: [[ticker:SNY]]) where she was global project head in rare diseases. Her experience also includes positions at Baxalta, the Northeast J&J Innovation Center, and the Novartis Institutes of Biomedical Research. Lead Selecta drug candidate … Continue reading “Sanofi’s Alison Schecter Tapped as Selecta Bio Chief Medical Officer”
Aura Wants to Take Its $150M and Stock a Consumer Cybersecurity Toolbox
Two recently combined consumer cybersecurity companies are heading off under a new branding to make a run at providing some online peace of mind for regular folks, and they’re doing it with $150 million in capital from Boston-area venture firm General Catalyst and WndrCo, the West Coast technology investor run by former Disney chairman Jeffrey … Continue reading “Aura Wants to Take Its $150M and Stock a Consumer Cybersecurity Toolbox”
Gilead Ups Stake in Galapagos With $5B Deal to Jumpstart Its R&D
Gilead Sciences on Sunday looked to another firm to rejuvenate its research capabilities, agreeing to put more than $5 billion in cash into Galapagos NV and get access to a slew of experimental drugs in return. Gilead (NASDAQ: [[ticker:GILD]]) will pay Galapagos (NASDAQ: [[ticker:GLPG]]) a whopping $3.95 billion in cash and make a $1.1 billion … Continue reading “Gilead Ups Stake in Galapagos With $5B Deal to Jumpstart Its R&D”
Lendbuzz, AI Auto Startup That Steps in When FICO Fails, Raises $150M
No traditional credit history? No problem. At least that’s how Lendbuzz, a startup that uses artificial intelligence to underwrite auto loans, sees it. The Boston-based software company announced Monday it has raised $150 million in new funding to expand its team and issue more financing backed by its machine learning algorithms. Most of the cash—$130 … Continue reading “Lendbuzz, AI Auto Startup That Steps in When FICO Fails, Raises $150M”
Narrowing AI: A Useful Context for AI Innovation, Opportunity, and Investment
I was asked recently if there was a meaningful analog to AI – its pervasiveness, its transformative potential, its power – in the annals of technology, and I answered with a straight face: “Yes. The Wheel. The Printing Press. Electricity. The Internet.” I truly believe AI is going to be that big, if not bigger, … Continue reading “Narrowing AI: A Useful Context for AI Innovation, Opportunity, and Investment”
Neon’s Early Vaccine Study Is a Peek at Immunotherapy’s Third Wave
In this new age of cancer immunotherapy, two versions have been approved. The first are checkpoint inhibitors, which have begun to change the way skin, lung, and other cancers are treated. The second are CAR-T cell therapies, which have shown promise in blood cancers. A third type of cancer immunotherapy is just now reaching clinical … Continue reading “Neon’s Early Vaccine Study Is a Peek at Immunotherapy’s Third Wave”
Athira Taps Alder Ex-Alder Bio Exec Litton as Chief Operating Officer
Mark Litton has been appointed chief operating officer of Seattle-based Athira Pharma. Litton is the co-founder of Alder BioPharmaceuticals (NASDAQ: [[ticker:ALDR]]), and was chief business officer at that company until last July. Athira, previously known as M3 Biotechnology, is developing treatments for neurodegenerative disorders. The company is currently enrolling patients in a Phase 1b study … Continue reading “Athira Taps Alder Ex-Alder Bio Exec Litton as Chief Operating Officer”
Boston Tech Watch: Cisco, Acacia, Great Hill Partners & GNS Healthcare
Billions with a “b” is the word of the week in Boston tech news, with Cisco paying a couple billion dollars for a Massachusetts tech firm and PE firm Great Hill Partners closing its latest ten-digit growth fund. Read these stories and more in this week’s roundup: —Nebulous, a Boston company developing a cloud storage … Continue reading “Boston Tech Watch: Cisco, Acacia, Great Hill Partners & GNS Healthcare”