One hundred fifty years ago May 10, around mid-day, railroad promoters from two coasts clumsily drove the final spikes of America’s first transcontinental railroad near Promontory Point, Utah. Two of the spikes used that day were made of gold. The blows themselves triggered a telegraphic message to the world. The joining of the Central Pacific … Continue reading “Milestones of Innovation 17: ‘Golden Spike’ Heralds Era of Cheap Steel”
ClassDojo CEO: Never Too Early for Kids to Learn About Mindfulness
If you felt a positive disturbance in The Force today, it may have been due to ClassDojo’s Mindful Moment. At 11am local time, millions of kids from schools in 180 countries are participating in the “world’s biggest virtual mindfulness class.” The course comes with a downloadable lesson plan from ClassDojo, a San Francisco-based educational technology … Continue reading “ClassDojo CEO: Never Too Early for Kids to Learn About Mindfulness”
Tech Ethics, Regulation & Strategy: Here’s the Napa Summit Agenda
With Uber’s long-awaited IPO, Facebook’s mounting controversies, and ongoing debates over drug pricing and safety issues, come a great responsibility. A big story in the innovation community now is about the ethics and regulation of tech and life sciences. What are the right ways to safeguard the public, hold corporations accountable, and maintain economic growth? … Continue reading “Tech Ethics, Regulation & Strategy: Here’s the Napa Summit Agenda”
Register Today and Save on “What’s Hot in Boston Biotech” on May 21
It finally is starting to feel like spring in Boston, which means our annual half-day life science forum, “What’s Hot in Boston Biotech,” is just around the corner. It’s happening on Tuesday, May 21, at Bristol-Myers Squibb in Cambridge, MA. We’re convening an elite and eclectic group of life sciences executives, researchers, and investors from … Continue reading “Register Today and Save on “What’s Hot in Boston Biotech” on May 21”
Bio Roundup: Rare Disease Showdowns, Prices on TV, Dealmania & More
The market for drugs for rare or “orphan” diseases continues to grow. An April report from Evaluate Pharma predicted sales of orphan drugs to rise 12 percent a year between now and 2024, when they will account for an estimated 20 percent of worldwide prescription drug sales. The field has gotten so competitive that multiple … Continue reading “Bio Roundup: Rare Disease Showdowns, Prices on TV, Dealmania & More”
Boston Tech Watch: MIT Solves, AltioStar Raises & Enel Scouts
[Updated 5/9/19, 11:00 am. See below.] The week in Boston tech news saw the launch of a philanthropic venture fund at MIT, some large fundraising rounds, an open source acquisition, and more. —MIT is raising a philanthropic venture fund to support social impact tech startups taking on some of the world’s biggest problems. The donor-advised fund … Continue reading “Boston Tech Watch: MIT Solves, AltioStar Raises & Enel Scouts”
Why Investors Are Turning to the Midwest—and How to Keep them Coming
For decades, venture capital investors have targeted the East and West coasts to find and fund their next big startup growth company. The result? Two thirds of VC deals and dollars are currently, as of the first quarter of 2019, held in three states—California, New York, and Massachusetts—in three regions of the U.S. Trailing those … Continue reading “Why Investors Are Turning to the Midwest—and How to Keep them Coming”
Uber Completes $8.1B Public Market Debut in Spite of Tumultuous Past
[Updated 5/10/19, 5 pm ET. See below.] Ride-hailing giant Uber secured $8.1 billion in new capital late Thursday as it priced an initial public offering that set its market capitalization at $82.4 billion, according to calculations by The New York Times and other news outlets. Uber announced late Thursday it will sell 180 million shares … Continue reading “Uber Completes $8.1B Public Market Debut in Spite of Tumultuous Past”
Two Days, Five Biotech IPOs, and $359M Raised for Clinical Trials
It will be hard to top last year’s flurry of biotech companies joining the public markets, but this week is shaping up to be the busiest for life science IPOs in recent memory. Five biotechs priced their IPOs and at least one more is coming. According to IPO research firm Renaissance Capital, 47 IPOs have … Continue reading “Two Days, Five Biotech IPOs, and $359M Raised for Clinical Trials”
WI Watchlist: Twitter Deal, AmFam Gift, Arrowhead Trial & More
It’s time to catch up on recent headlines from Wisconsin’s innovation scene, including a $20 million donation earmarked for data science research and education at the University of Wisconsin-Madison, a pair of tech acquisitions, and key milestones for two biotech firms. Read on for details. —American Family Insurance said it will donate $20 million to … Continue reading “WI Watchlist: Twitter Deal, AmFam Gift, Arrowhead Trial & More”
Nominations for Xconomy Awards Boston Ending Soon
The Xconomy Awards Boston program has celebrated the best in the area’s life sciences industry for the last two years. We couldn’t have done it without receiving hundreds of nominations of the people, companies, and organizations that are blazing trails in drug research and development, life science research, and digital health. We need your help again … Continue reading “Nominations for Xconomy Awards Boston Ending Soon”
Mobility News: Cruise’s New Cash, Tesla’s Pivot to Robotaxis & More
As the mobility industry waits with baited breath to see how Uber’s IPO will play out on Friday, there is plenty of news being made elsewhere in the sector. Cruise scored another massive investment, Toyota AI Ventures opened a new fund, scooters continue to rev up, and more. Read on for details. —Our own Bernadette … Continue reading “Mobility News: Cruise’s New Cash, Tesla’s Pivot to Robotaxis & More”
Acquia Buys Open Source Marketing Automation Software Firm Mautic
Open source website software company Acquia is buying marketing automation startup Mautic, the companies said. Terms of the deal were not disclosed. Acquia, based in Boston, develops open source tools to manage websites built using the open source content management system Drupal. Mautic, a few miles away in Medford, is an open source (See a … Continue reading “Acquia Buys Open Source Marketing Automation Software Firm Mautic”
Super Saver Rate for Seattle Life Science Xchange Event Ends Tomorrow
Grab your ticket now to attend Life Science Xchange: Closer to Convergence. Join Xconomy on June 25 at Cambia Grove in Seattle to hear the stories of local organizations taking advantage of the growing convergence of biology and data to discover, develop, and deliver healthcare innovation to patients— in the form of drugs, diagnostics, devices, … Continue reading “Super Saver Rate for Seattle Life Science Xchange Event Ends Tomorrow”
Goldfinch Bio Lands $55M From Gilead in Kidney Drug R&D Pact
Goldfinch Bio set out to build a database of patients with kidney diseases, which it could study to understand the biology and genetics of kidney disorders in order to develop better drugs. The biotech startup is making headway on its research and its approach now has some outside validation. Gilead Sciences is partnering with Goldfinch … Continue reading “Goldfinch Bio Lands $55M From Gilead in Kidney Drug R&D Pact”
Lyft Posts $1.1B Loss for Q1 in First Earnings Report Post-IPO
Newly public ride-hailing company Lyft (NASDAQ: [[ticker:LYFT]]) filed its first-quarter earnings results Tuesday, reporting a 95 percent increase in revenue compared with the same period in 2018, but a net loss of nearly $1.14 billion. That first-quarter loss includes $894 million of stock-based compensation and other expenses triggered by the completion of Lyft’s IPO on April … Continue reading “Lyft Posts $1.1B Loss for Q1 in First Earnings Report Post-IPO”
SMA, Migraine Data Lead Neuro Highlights from AAN Meeting
The American Academy of Neurology meeting in Philadelphia is rolling on through the end of this week. There has been plenty of news to digest already. New clinical data could herald cutting-edge treatments for migraine, the rare disease spinal muscular atrophy, the deadly neurological disorder amyotrophic lateral sclerosis, and more. Xconomy previewed the conference last … Continue reading “SMA, Migraine Data Lead Neuro Highlights from AAN Meeting”
MedCognition Making Augmented Reality Emergency Training for US Army
San Antonio—MedCognition, a startup that uses an augmented reality system to train emergency medical technicians and other first responders on how to treat injuries, has earned a $750,000 grant from the US Army to collaborate with another organization on developing a version of its system for military use. MedCognition plans to spend the next 12 … Continue reading “MedCognition Making Augmented Reality Emergency Training for US Army”
Flexe Gets $43M to Expand On-demand Warehousing and Fulfillment Tools
Flexe, a Seattle-based company that provides on-demand warehousing and fulfillment services, announced Tuesday it has raised $43 million in new funding. Flexe says it plans to use some of the proceeds from the Series B round for product development, and to more that double its current headcount. San Francisco-based Activate Capital and New York-based Tiger Global … Continue reading “Flexe Gets $43M to Expand On-demand Warehousing and Fulfillment Tools”
Canadian VCs Lead US in Gender Parity, But Both Need Work: Report
Women hold a small fraction of venture capital leadership roles in the US and Canada. A new report suggests their clearest path to venture investing may run through corporate innovation arms. While only 15.9 percent of corporate venture capital (CVC) leaders are women, 82.6 percent of women who hold executive or partner roles in those … Continue reading “Canadian VCs Lead US in Gender Parity, But Both Need Work: Report”
Linux Foundation’s Open Source Automotive Software Project Takes Off
When we last covered the Linux Foundation’s Automotive Grade Linux (AGL) project—a collaborative, cross-industry, nonprofit effort to develop a common, open-source software stack for the connected car—it was 2016 and the automotive industry was just beginning to warm up to development partnerships that could advance autonomous vehicles and other mobility services. Three years later, and … Continue reading “Linux Foundation’s Open Source Automotive Software Project Takes Off”
Former Juno Exec Stern Joins FogPharma as Chief Scientific Officer
FogPharma has appointed Howard Stern to serve as its chief scientific officer. Before joining the Boston company, Stern was vice president of translational sciences at Juno Therapeutics, which was acquired by Celgene (NASDAQ: [[ticker:CELG]]) in 2015. Stern’s experience also includes posts at Infinity Pharmaceuticals and Genentech. In other moves, FogPharma named Peter Fekkes vice president of … Continue reading “Former Juno Exec Stern Joins FogPharma as Chief Scientific Officer”
Kyn Therapeutics Promotes Jeffrey Ecsedy, Jason Sager to C-Suite
Kyn Therapeutics has two new executives on its management team. Jeffrey Ecsedy, the Boston company’s senior vice president, R&D, was promoted to chief scientific officer. Also, Jason Sager is now chief medical officer after holding that post on an interim basis for the past two years. Kyn emerged in 2017 with $49 million in funding to … Continue reading “Kyn Therapeutics Promotes Jeffrey Ecsedy, Jason Sager to C-Suite”
Exabeam Raises $75M To Compete With Splunk, Other Security Leaders
Landing its second shot of new capital in less than a year, cybersecurity startup Exabeam announced today it secured $75 million in a Series E funding round co-led by new investor Sapphire Ventures and returning investor Lightspeed Venture Partners. San Mateo, CA-based Exabeam says the cash boost will fund its competitive push in a cybersecurity … Continue reading “Exabeam Raises $75M To Compete With Splunk, Other Security Leaders”
Pendo Adds to Analytics, Engagement Software With Receptive Purchase
Pendo, an analytics business whose software helps companies study user behavior and feedback, has acquired a UK-based startup called Receptive Software. Pendo declined to disclose terms of the deal. Raleigh, NC-based Pendo aims to help its customers—ranging from tech startups to big businesses—make decisions about the design and user experiences of its products. In addition … Continue reading “Pendo Adds to Analytics, Engagement Software With Receptive Purchase”
Verve Has Top Cardio-Geneticist, $58.5M to Aim CRISPR at Heart Attacks
A new startup wants to edit out the world’s biggest killer. Prominent cardiologist and geneticist Sekar Kathiresan is heading up a new company, Verve Therapeutics, that will develop gene-altering medicine to prevent heart attacks. Heart disease is the leading cause of death in the US and worldwide. “Imagine an injection, once in life, that safely … Continue reading “Verve Has Top Cardio-Geneticist, $58.5M to Aim CRISPR at Heart Attacks”
TerraClear Seeks to Join Agtech Market with Rock Picker for Tractors
Brent Frei, a serial entrepreneur who has helped launch and lead several successful early-stage businesses in the Seattle-area, is getting back to his roots as part of his latest startup, TerraClear. That has meant a return to Frei’s hometown, Grangeville, ID, where TerraClear recently opened a facility it plans to use for product testing. The … Continue reading “TerraClear Seeks to Join Agtech Market with Rock Picker for Tractors”
We Did It In Detroit, And So Can You: Fundraising Lessons Learned
As the co-founder of Assembler Labs, a Detroit-based startup studio, I breathed a big sigh of relief after we closed our inaugural round of fundraising at the end of March. It took about seven months of investor meetings, sending around documents, and wrangling signatures, but my co-founder and I looked forward to calmer calendars and … Continue reading “We Did It In Detroit, And So Can You: Fundraising Lessons Learned”
TitletownTech, HealthX, Polco & More WI Venture Funding News
It’s time to catch up on recent fundraising and deal-making news from Wisconsin-based startups and investors. Read on for details. —Phoenix said it inked a $4 million contract with the US Army to demonstrate neutron-based imaging technologies that could be used to help inspect large, complex munitions, according to a press release. The Madison-area company … Continue reading “TitletownTech, HealthX, Polco & More WI Venture Funding News”
LunaDNA, Vivid & More: The Xconomy Awards San Diego Startup Finalists
The finalists in the Startup category of San Diego’s Xconomy Awards (and other categories) show how much data security and privacy have become not just top public concerns but also the priorities of a growing number of companies. Other Startup finalists are taking various approaches to making precision medicine a reality for more patients. Here … Continue reading “LunaDNA, Vivid & More: The Xconomy Awards San Diego Startup Finalists”
FDA OKs Pfizer Rare Disease Drug, Sets Up Battle With Alnylam, Akcea
[Updated 5/6/19, 9:20 am ET. See below.] A year ago, there were no FDA-approved medicines available for US patients with the debilitating rare genetic disease transthyretin amyloidosis (ATTR). Things have changed fast, however: With the FDA’s decision to approve a drug from Pfizer this morning, patients now have three options to choose from. The FDA … Continue reading “FDA OKs Pfizer Rare Disease Drug, Sets Up Battle With Alnylam, Akcea”
Lundbeck to Buy Abide Therapeutics For $250M, Make SD Lab a US Hub
Danish pharma firm Lundbeck has agreed to acquire Abide Therapeutics for $250 million upfront. The La Jolla, CA-based company, spun out of research from The Scripps Research Institute (TSRI), is developing drugs to treat diseases of the central nervous system, among them Tourette syndrome. Its drugs block enzymes known as serine hydrolases, which play a … Continue reading “Lundbeck to Buy Abide Therapeutics For $250M, Make SD Lab a US Hub”
Bellicum Pharma’s Grossman Joins Arcus Bio as Chief Medical Officer
William Grossman has joined Arcus Biosciences (NYSE: [[ticker:RCUS]]) as chief medical officer, the same position he held at his former company, Bellicum Pharmaceuticals (NASDAQ: [[ticker:BLCM]]). Grossman’s experience also includes positions at Genentech, AbbVie (NYSE: [[ticker:ABBV]]), and Biothera. Hayward, CA-based Arcus, which raised $120 million in its IPO last year, has several cancer drugs in early-stage … Continue reading “Bellicum Pharma’s Grossman Joins Arcus Bio as Chief Medical Officer”
Athira Pharma Appoints Hans Moebius Chief Medical Officer
Hans Moebius has joined Athira Pharma as chief medical officer. Moebius’s experience includes positions at Ciba-Geigy, Novartis (NYSE: [[ticker:NVS]]), Merz Pharma, TauRx, and Allergan (NYSE: [[ticker:AGN]]). Seattle-based Athira, which recently changed its name from M3 Biotechnology, is currently testing lead drug candidate NDX-1017 in a Phase 1 study in patients with Alzheimer’s disease, dementia, or … Continue reading “Athira Pharma Appoints Hans Moebius Chief Medical Officer”
Gener8tor, Motown Team to Launch Summer Music Accelerators in Detroit
Name a genre of music and there’s probably a Detroiter who innovated it. Punk rock? Death, Iggy Pop, and the MC5. Hip-hop? J Dilla. Techno? The Belleville Three. Blues? John Lee Hooker. Rock? The White Stripes. Gospel? Aretha Franklin. And, of course, where would modern R&B and pop be without Motown? Detroit has always been … Continue reading “Gener8tor, Motown Team to Launch Summer Music Accelerators in Detroit”
Funds for Indio, A Cloud Guru & Kerv, TMC3 Update & More TX Tech
—Indio Technologies, an insurance tech startup, has raised $20 million in funding, and plans to spend half of that amount to boost its Austin office, the company said. The Series B investment round was led by Menlo Ventures with participation from 8VC. San Francisco-based Indio, which makes software that insurance companies can white-label to digitize … Continue reading “Funds for Indio, A Cloud Guru & Kerv, TMC3 Update & More TX Tech”
Bio Roundup: Head and Spine Previews, Biogen Moves, IPO Dreams & More
America continues to suffer from healthcare headaches. Our convoluted private-public insurance system was under scrutiny this week from Democrats, holding a “Medicare for All” hearing in the House, and from Republicans, as several GOP-led states and the Trump administration asked a federal court to sweep away Obamacare. Several companies also want to reduce headaches. This … Continue reading “Bio Roundup: Head and Spine Previews, Biogen Moves, IPO Dreams & More”
At Big Neuro Meeting, Migraine Drug Competitors to Make Oral Arguments
The first new class of migraine drugs in decades won FDA approval last year. But the companies who commercialized these new therapies and their potential competitors are already planning new, more convenient versions, taken as pills instead of injectoins just below the skin, and they will present key data in the next few days at … Continue reading “At Big Neuro Meeting, Migraine Drug Competitors to Make Oral Arguments”
Boston Tech Watch: Wayfair Tumbles, Charles River Leaks & Chewy Begs
First quarter losses jolt Wayfair shareholders. Liberty Mutual teams up with MIT’s new AI research college. Charles River Labs reports its systems were hacked. Read on for more of this week’s Boston tech news. — Losses were expected to continue at home goods e-commerce giant Wayfair (NYSE: [[ticker:W]]), but the sheer size of the red … Continue reading “Boston Tech Watch: Wayfair Tumbles, Charles River Leaks & Chewy Begs”
Smartsheet Makes Another Software Acquisition With Deal for 10,000ft
Smartsheet, a company that sells collaborative project-tracking software for business users, announced Thursday it has acquired 10,000ft, a startup developing digital tools organizations use to organize their schedules and track the time they spend on work projects. Both firms are based in the Seattle area. Smartsheet (NASDAQ: [[ticker:SMAR]]) did not disclose financial terms of the … Continue reading “Smartsheet Makes Another Software Acquisition With Deal for 10,000ft”
New VC Firm Blueprint Equity Puts $6M into Florida Software Company
A new venture capital firm, which in November marked its launch by raising a $53 million-plus fund to invest in startups, has made its first investment. Blueprint Equity managing partners Sheldon Lewis and Bobby Ocampo, 30-somethings who are part of a new generation of investors in San Diego, said Thursday that the firm had invested … Continue reading “New VC Firm Blueprint Equity Puts $6M into Florida Software Company”
Nohla’s Christianson Joins Rainier Therapeutics as Chief Technical Officer
Gary Christianson has been appointed chief technical officer of San Leandro, CA-based Rainier Therapeutics. Christianson was most recently chief operating officer at Nohla Therapeutics in Seattle. His experience also includes posts at Cascadian Therapeutics and GlaxoSmithKline (NYSE: [[ticker:GSK]]). Rainier, formerly known as BioClin Therapeutics, has advanced its lead drug candidate vofatamab to Phase 2 testing … Continue reading “Nohla’s Christianson Joins Rainier Therapeutics as Chief Technical Officer”
Acelity Sells to 3M in Deal Valued at $6.7 Billion, Ending IPO Plan
San Antonio — Acelity is being acquired by 3M, the maker of products like Post-it and Ace bandages, in a $6.7 billion deal just two weeks after an affiliate of Acelity had filed paperwork for an initial public offering. The up-front cost to 3M will be about $4.3 billion because 3M (NYSE: MMM) will assume … Continue reading “Acelity Sells to 3M in Deal Valued at $6.7 Billion, Ending IPO Plan”
SeaGen’s Josephson Jumps to Zymeworks to Lead Clinical Research
Neil Josephson is joining Zymeworks (NYSE: [[ticker:ZYME]]) to become vice president of clinical research. Josephson comes to the Vancouver, BC-based drug developer from Seattle Genetics (NASDAQ: [[ticker:SGEN]]), where he was vice president of clinical development. In other moves, Zymeworks appointed Mark Hollywood to serve as senior vice president, technical and manufacturing operations, and Bruce Hart … Continue reading “SeaGen’s Josephson Jumps to Zymeworks to Lead Clinical Research”
Ivor Royston Named Xconomy’s 2019 Lifetime Achievement Award Winner in San Diego
We at Xconomy are excited to announce that we are honoring Ivor Royston, co-founder of Hybritech and Idec Pharmaceuticals, with our 2019 Lifetime Achievement Award—the first ever awarded in San Diego. The award recognizes Royston’s wide-ranging career as an academic physician, entrepreneur, investor, and life sciences executive. His foundational role in starting Hybritech, San Diego’s … Continue reading “Ivor Royston Named Xconomy’s 2019 Lifetime Achievement Award Winner in San Diego”
Beyond Meat’s IPO Bags $241M to Make Plant-Based Burgers Mainstream
A Beyond Meat burger is coming to a location near you—and soon. The food technology company’s upsized IPO has raised $241 million to finance plans to bring its plant-based “meat” to more grocery stores and restaurants across the country. Beyond Meat priced its IPO Wednesday evening at $25 per share, which was the high end … Continue reading “Beyond Meat’s IPO Bags $241M to Make Plant-Based Burgers Mainstream”
SMA Moment: Will Gene Therapy Shift Treatment, Costs of Muscle Disease?
This is a big moment for people diagnosed with spinal muscular atrophy, or SMA, a rare and potentially lethal genetic disorder that destroys muscles. For decades, there was no way to change the trajectory of their disease. They now have one marketed medicine, and this month, chances are they’ll have another: a gene therapy that … Continue reading “SMA Moment: Will Gene Therapy Shift Treatment, Costs of Muscle Disease?”
Sight Machine Raises $29M to Connect Dots of Manufacturing Enterprises
When it comes to manufacturing, production and quality is everything. Systems to monitor manufacturing have been around for decades, but they aren’t always complete, sometimes only overseeing specific machines or locations. That’s a problem that Sight Machine aims to address with its software that analyzes the manufacturing process. Its technology uses artificial intelligence, machine learning, … Continue reading “Sight Machine Raises $29M to Connect Dots of Manufacturing Enterprises”
Madrona to Invest Beyond Pacific Northwest With New $100M Fund
The biggest backer of technology startups in the Pacific Northwest, Madrona Venture Group, announced a new, $100 million fund Wednesday. The Seattle-based investment firm says it intends to make investments out of its Acceleration Fund in companies outside of the geographic footprint of its current portfolio, and will target companies that are more mature than … Continue reading “Madrona to Invest Beyond Pacific Northwest With New $100M Fund”
Retailers, Startups Work to Offer Efficient E-Commerce Delivery
The on-demand delivery war in retail is on. In its quarterly earnings call Thursday, Amazon (NASDAQ: [[ticker:AMZN]]) announced it would switch to one-day shipping for Prime members, halving the time the 100 million-plus people who subscribe to the service must wait before receiving their purchases. The Seattle e-commerce giant told analysts the move would cost around … Continue reading “Retailers, Startups Work to Offer Efficient E-Commerce Delivery”