[Updated, 4/22/19, see below] If a once-modest regional hospital and its new biotech allies have their way, the capital of Ohio could one day rival America’s other biomedical hubs. “Our goal is to make Columbus the center of the universe for gene therapy,” says Doug Ingram, CEO of Sarepta Therapeutics. Sarepta (NASDAQ: [[ticker:SRPT]]) is based … Continue reading “How an Ohio Kids’ Hospital Quietly Became Ground Zero for Gene Therapy”
Alnylam Makes Case For 2nd RNAi Drug at Big Liver Disease Meeting
The “attacks,” as they’re known, are debilitating and even possibly fatal. A patient with the ultra-rare genetic disease acute hepatic porphyria (AHP) is struck with excruciating abdominal pain and rushes to a doctor’s office or hospital for some type of pain relief—even a surgery—to feel better. And then another attack could come, and another, driving … Continue reading “Alnylam Makes Case For 2nd RNAi Drug at Big Liver Disease Meeting”
Beyond Oil: Bahrain, Houston Can Find Common Ground on Innovation
Houston—A delegation led by the Bahraini oil minister was in town recently meeting with business and government leaders. It makes sense considering Houston is the birthplace of the fracking technology the Gulf country’s leaders are seeking. A year ago, Bahrain discovered its largest trove of oil and gas—at least 80 million barrels of “tight oil”—since … Continue reading “Beyond Oil: Bahrain, Houston Can Find Common Ground on Innovation”
Lyft, Uber, and the Changing Disclosure Rules For Unicorn IPOs
When a much-watched tech company such as Lyft, Uber, or Pinterest files for an initial public stock offering, people eagerly scour the sudden trove of information that such a private business must finally disclose when it begins to offer shares to the general public, rather than only to sophisticated inside investors such as venture capital … Continue reading “Lyft, Uber, and the Changing Disclosure Rules For Unicorn IPOs”
Thwarting Opposition, Bristol Gets Shareholder OK for $74B Celgene Buyout
The early opposition has turned out to be just noise. Shareholders of Bristol-Myers Squibb today approved the pharma giant’s planned buyout of Celgene, paving the way for a deal that will create one of the largest biopharma organizations in the world, and send ripples throughout the sector. Bristol (NYSE: [[ticker:BMY]]) said Friday that more than … Continue reading “Thwarting Opposition, Bristol Gets Shareholder OK for $74B Celgene Buyout”
Toyota, Ford, GM, and SAE Form Automated Vehicle Safety Consortium
The SAE World Congress Experience, a three-day conference featuring discussions, networking, and exhibits of new technologies pertaining to the mobility industry, took place in Detroit this week and covered a ton of topics. SAE, originally known as the Society of Automotive Engineers, began in 1905 and was intended to be an umbrella organization for the … Continue reading “Toyota, Ford, GM, and SAE Form Automated Vehicle Safety Consortium”
Bio Roundup: EASL Does It, Alnylam’s BFF, Gene Therapy Deals & More
A major conference devoted to liver disease kicked off with updates from the race for approval of the world’s first drug to treat a form of advanced liver disease called nonalcoholic steatohepatitis, or NASH. The gene therapy field continued to attract venture cash and industry interest, and it was a busy week in Washington for … Continue reading “Bio Roundup: EASL Does It, Alnylam’s BFF, Gene Therapy Deals & More”
Boston Tech Watch: Tufin, Facebook, RightHand, Diameter & Jebbit
[Updated 4/15/19, 10:50 AM. See below.] A cybersecurity IPO could raise up to $124 million for an Israeli-based company with its US headquarters in Boston. Facebook’s Boston office wants to map the world’s population in high def, starting with Africa. More venture cash is flowing into Bay State startups. Read all this and much more … Continue reading “Boston Tech Watch: Tufin, Facebook, RightHand, Diameter & Jebbit”
San Diego Life Sciences Roundup: Evofem, Cullgen, BrainLeap & More
Locally based biotech companies receive fresh funding from investors. A software startup launches games that it says may help children with disorders that cause attention difficulties. Get the details on these developments and more in San Diego life sciences news: —Evofem Biosciences (NASDAQ: [[ticker:EVFM]]) struck a deal to raise up to $80 million in a … Continue reading “San Diego Life Sciences Roundup: Evofem, Cullgen, BrainLeap & More”
WI Watchlist: DotCom Therapy, Nordic, UWM, Epic
It’s time to catch up on recent happenings in Wisconsin’s innovation community: —Madison-based telemedicine startup DotCom Therapy named Sanaz Cordes as its chief executive and said it raised an undisclosed amount of funding from HealthX Ventures, a local venture firm that backs healthtech companies. Cordes is a physician and former chief operations officer of another … Continue reading “WI Watchlist: DotCom Therapy, Nordic, UWM, Epic”
Intercept Touts a Smaller Piece of Its NASH Trial at Liver Conference
Intercept Pharmaceuticals (NASDAQ: [[ticker:ICPT]]) said today it was on track to ask US and European regulators this year to approve what could be the first drug for an advanced liver disease that poor diet and exercise habits have turned into a quiet epidemic. The disease is called nonalcoholic steatohepatitis, or NASH, and as the name … Continue reading “Intercept Touts a Smaller Piece of Its NASH Trial at Liver Conference”
Ribometrix Appoints John Reardon Chief Scientific Officer
John Reardon has joined Durham, NC-based Ribometrix as its chief scientific officer. Reardon was most recently head of research and development at HemoShear Therapeutics. His experience also includes posts at Revivo Therapeutics, Cadioxyl Pharmaceuticals, and GlaxoSmithKline (NYSE: [[ticker:GSK]]). Last November, Ribometrix closed a $30 million Series A round to finance development of small molecule drugs that … Continue reading “Ribometrix Appoints John Reardon Chief Scientific Officer”
Former Shire R&D Head Busch Named Cyclerion Chief Innovation Officer
Cyclerion has appointed Andreas Busch to serve as chief innovation officer. Busch most recently worked at Shire, where he was executive vice president and chief scientific officer. His experience also includes posts at Bayer, Hoechst, and Sanofi-Aventis. Cambridge, MA-based Cyclerion, which recently spun out of Ironwood Pharmaceuticals (NASDAQ: [[ticker:IRWD]]), is developing drugs based on nitric … Continue reading “Former Shire R&D Head Busch Named Cyclerion Chief Innovation Officer”
EvoNexus Gets Bank, Investment Firm Backing for Fintech Incubator
Financial firms are facing competition from legacy players and disruptive fintech startups as technology continues to reshape the heavily regulated industry. Two financial firms are betting on a nonprofit incubator program in San Diego in hopes of identifying top talent and potential targets for investment or acquisition. The incubator, EvoNexus, said this week that Royal … Continue reading “EvoNexus Gets Bank, Investment Firm Backing for Fintech Incubator”
Xconomy Awards San Diego Diversity Finalists Are Scaling Up Empowerment
In an awards program, it can seem like a competition, but in the Commitment to Diversity category, many of the finalists are in fact collaborating with each other or share common roots. For example, finalist Silvia Mah is also a co-founder of one of the other finalists in the category, Ad Astra Ventures. And Ad … Continue reading “Xconomy Awards San Diego Diversity Finalists Are Scaling Up Empowerment”
AskBio Reels In $235M to Advance Gene Therapy Clinical Trials
Asklepios BioPharmaceutical (AskBio) has raised $235 million in financing to support its research and development of gene therapies for rare, genetic disorders. The funding came from TPG Capital and Vida Ventures, which together invested $225 million and gained a minority stake in the Research Triangle Park, NC, company. Concurrent with that investment, AskBio’s founders and … Continue reading “AskBio Reels In $235M to Advance Gene Therapy Clinical Trials”
Affectiva Raises $26M to Get Self-Driving Cars to Know Your Mood
The vision of a hands-off, self-driving car demands much more than accurate computer vision that senses cars, trees, lanes, pedestrians, bicyclists, roads, potholes—all in sun, rain, and snow. But the automotive industry that always seems to be barreling toward smarter autonomous vehicles also wants the car to know exactly what’s going on in the cabin. … Continue reading “Affectiva Raises $26M to Get Self-Driving Cars to Know Your Mood”
Active Capital Leads $1.8M Round for Back Office’s AI Bookkeeping
San Antonio—Active Capital is leading a $1.8 million seed funding round for West Palm Beach, FL-based automated bookkeeping software maker Back Office. 500 FinTech, PlugNPlay Ventures, and angel investors also participated, according to Active. Back Office says it uses artificial intelligence-driven software to automate revenue and expense reporting (among other accounting measures) for businesses. It … Continue reading “Active Capital Leads $1.8M Round for Back Office’s AI Bookkeeping”
Jintel Health Taps Former Zimmer Biomet Exec Dvorak for CEO Post
David Dvorak has been appointed chairman of the board and CEO of Jintel Health. Ping Zhang, founder of Richmond, CA-based Jintel, will become president of the company. Dvorak is the former chief executive of medical devices giant Zimmer Biomet (NYSE: [[ticker:ZBH]]). Jintel says it has developed technology that uses analytics and machine learning for clinical … Continue reading “Jintel Health Taps Former Zimmer Biomet Exec Dvorak for CEO Post”
Chimerix Names Former Endocyte Exec Michael Sherman CEO
Two former Endocyte executives are joining the executive team of Durham, NC-based Chimerix (NASDAQ: [[ticker:CMRX]]). Michael Sherman has been appointed CEO, succeeding former CEO Michelle Berrey, who resigned in February. Sherman is joined by Michael Andriole, who will serve as Chimerix’s chief business officer. Sherman was previously CEO of Endocyte, which was acquired by Novartis (NYSE: … Continue reading “Chimerix Names Former Endocyte Exec Michael Sherman CEO”
Roundup: MiSpringboard, Free QL Demo Day Help, DetroitEd411 & More
Let’s catch up on the latest startup and innovation news from around Michigan: —Birmingham-based Pairaphrase, a startup selling translation software that it says provides users more security and privacy than competing products, such as Google Translate, has won a grant from the state of Michigan. The company did not disclose the amount of the grant … Continue reading “Roundup: MiSpringboard, Free QL Demo Day Help, DetroitEd411 & More”
Senators Grill Pharmacy Benefit Execs About Skyrocketing Drug Prices
Executives from five of the companies that negotiate drug prices on behalf of insurers testified Tuesday before the Senate finance committee. It was the latest in a series of hearings centered on the rising cost of prescription medication, which has captured attention on both sides of the political aisle and is likely to become a … Continue reading “Senators Grill Pharmacy Benefit Execs About Skyrocketing Drug Prices”
Apana Gulps Down $11M to Help Costco, Other Clients Track Water Use
Apana, which develops systems of sensor-equipped devices and complementary software to help facilities monitor their water use, announced Tuesday it has raised $11 million to fuel its continued growth. Grocery stores, hotels, and restaurants are among those who use Apana’s products and services, which the Bellingham, WA-based company says can help these organizations save money … Continue reading “Apana Gulps Down $11M to Help Costco, Other Clients Track Water Use”
Sobriety Pays: DynamiCare Gamifies Staying Clean for Recovering Addicts
[Corrected 5/22/19, 4:27 pm ET. See below.] Eric Gastfriend was looking for his next tech startup idea after leaving his video game startup Happy Cloud and finishing an MBA at Harvard Business School when the inspiration came from a source close to home. A relative was entering rehab for alcohol abuse for the second time, … Continue reading “Sobriety Pays: DynamiCare Gamifies Staying Clean for Recovering Addicts”
Austin VC Firm LiveOak Venture Partners Closes Second, $105M Fund
[Updated 4/9/19, 9:45 am ET. See below.] Austin—LiveOak Venture Partners announced today it has closed a $105 million fund, its second. The firm’s “Fund II” has already made six investments, including Austin startups Eventador, Osano, and Rollick, and Dallas-based AmplifAI, LiveOak said in a press release. [Information about one investor.] Among those limited partners includes the … Continue reading “Austin VC Firm LiveOak Venture Partners Closes Second, $105M Fund”
VC Trends in 2019: More Money, Fewer Deals But Women Still Get Less
[Updated 11:23 a.m. See below.] If you’ve been following venture capital trends, what you expected to happen in the first quarter of 2019 did: More money is being invested in fewer deals, and women founders still are getting less of it than men. Venture firms sent $32.6 billion into startups nationally during the first three … Continue reading “VC Trends in 2019: More Money, Fewer Deals But Women Still Get Less”
FDA Refuses to Review Zogenix Seizure Drug, Says File Not Complete
[Updated 9:11 p.m. ET. See below.] The FDA is refusing to review a Zogenix drug developed to treat seizures caused by a rare form of epilepsy. Zogenix said Monday that the FDA sent the company a “refusal to file” letter regarding its drug, fenfluramine hydrochloride (Fintepla). Such letters don’t amount to a rejection of a … Continue reading “FDA Refuses to Review Zogenix Seizure Drug, Says File Not Complete”
RiskLens Raises $20M for Software That Quantifies Cyber Risk
RiskLens, a developer of software for assessing, communicating, and managing cyber risk, announced Monday it has raised more than $20 million from investors. Spokane, WA-based RiskLens says it plans to use some of the proceeds from the Series B funding round to expand its sales, marketing, engineering, and professional services teams. They’ll work to try … Continue reading “RiskLens Raises $20M for Software That Quantifies Cyber Risk”
Translate Bio Names Richard Wooster Chief Scientific Officer
Richard Wooster has been appointed chief scientific officer of Translate Bio (NASDAQ: [[ticker:TBIO]]). Wooster was most recently president of research & development and chief scientific officer at Tarveda Therapeutics. His experience also includes senior roles at GlaxoSmithKline (NYSE: [[ticker:GSK]]). When Wooster joins Lexington, MA-based Translate Bio in May, the company says that scientific founder and … Continue reading “Translate Bio Names Richard Wooster Chief Scientific Officer”
Acceleron Pharma’s Chief Medical Officer Robert Zeldin Departs
Robert Zeldin has left Acceleron Pharma (NASDAQ: [[ticker:XLRN]]), where he was executive vice president and chief medical officer. Cambridge, MA-based Acceleron gave no reason for Zeldin’s departure, which comes just nine months after he joined the company. A search for Zeldin’s successor is underway. Last week, Acceleron and partner Celgene (NASDAQ: [[ticker:CELG]]) filed for FDA … Continue reading “Acceleron Pharma’s Chief Medical Officer Robert Zeldin Departs”
CD&R Buys Majority Stake in San Antonio’s Sirius Computer Solutions
San Antonio—New York investment firm Clayton, Dubilier & Rice (CD&R) has acquired a majority stake in Sirius Computer Solutions, which provides a variety of security, cloud, and various other IT services to customers, typically offering products from companies it partners with, such as IBM or Cisco. Terms of the acquisition price weren’t disclosed. Sirius has … Continue reading “CD&R Buys Majority Stake in San Antonio’s Sirius Computer Solutions”
Trevi Therapeutics Files for IPO to Fund Anti-Itching Drug R&D
Trevi Therapeutics is trying to turn an old opioid drug into a new therapy for tough-to-treat itching conditions, and it has filed for an initial public offering to finance clinical trials. In paperwork submitted to the SEC late Friday, Trevi set a preliminary $86 million target for its IPO. The New Haven, CT-based company has … Continue reading “Trevi Therapeutics Files for IPO to Fund Anti-Itching Drug R&D”
Klaviyo Puts Google, Facebook, Amazon on Notice With $150M Raise
Klaviyo, a Boston e-commerce startup, wants retailers to take their advertising spending back from the tech behemoths Google, Amazon, and Facebook. The thinking behind the push, according to CEO Andrew Bialecki, is whether in the long term companies are better off handing over their ad dollars or doing the work and “owning” the marketing themselves. … Continue reading “Klaviyo Puts Google, Facebook, Amazon on Notice With $150M Raise”
Four Things Every Smart Startup Should Do as It Scales
Your startup began as “four smart people with laptops and a vision.” Fast-forward a few years and it’s a bona fide business with investors, employees, and a snappy logo. Stay on this path, and signs are good that you’ll continue to grow. It’s easy and convenient to keep doing what you’ve been doing as you … Continue reading “Four Things Every Smart Startup Should Do as It Scales”
Global Detroit, U-M Team on Program to Boost Immigrant-Led Startups
The American Dream was once a fairly simple concept: The nation would welcome strivers from across the world and invite them to pull themselves up by their bootstraps, work hard, pay taxes, and become contributing citizens. However, immigration has become a highly charged political issue in the current era, making things more complicated. That’s one … Continue reading “Global Detroit, U-M Team on Program to Boost Immigrant-Led Startups”
Alnylam Gets $800M From Regeneron to Bring RNAi to Eye, Brain Diseases
Alnylam and Regeneron Pharmaceuticals are announcing a wide-ranging alliance this morning to co-develop treatments for eye and neurological diseases using RNA interference, a method of drugmaking that has recently come of age after years of ups and downs. Regeneron (NASDAQ: [[ticker:REGN]]), of Tarrytown, NY, will pay Alnylam (NASDAQ: [[ticker:ALNY]]) $400 million in cash up front … Continue reading “Alnylam Gets $800M From Regeneron to Bring RNAi to Eye, Brain Diseases”
San Diego Tech Roundup: Bitmo, Dvele, Cybersecurity Report & More
—Mobile app startup Bitmo announced it had raised more than $3 million in seed funding from investors including Everplus Capital, Longboard Capital Advisors, and several Southern California-based family fund offices. Bitmo’s mobile app allows users to send and receive digital gift cards that can be switched between a number of stores. The company says it … Continue reading “San Diego Tech Roundup: Bitmo, Dvele, Cybersecurity Report & More”
Ex-Seres Executive Roger Pomerantz Appointed ContraFect CEO
Roger Pomerantz is now chairman and CEO of infectious diseases drug developer ContraFect (NASDAQ: [[ticker:CFRX]]). He succeeds Steven Gilman, who is retiring. Pomerantz has been vice chairman of Yonkers, NY-based ContraFect for five years. He was also CEO of Cambridge, MA-based microbiome drug developer Seres Therapeutics (NASDAQ: [[ticker:MCRB]]) from 2014 until January of this year. … Continue reading “Ex-Seres Executive Roger Pomerantz Appointed ContraFect CEO”
Braeburn Pharma’s Malamut Joins Collegium as Chief Medical Officer
Richard Malamut has been appointed chief medical officer of Collegium Pharmaceutical (NASDAQ: [[ticker:COLL]]). He joins the Stoughton, MA, company from Braeburn Pharmaceuticals, where he was chief medical officer, head of research and development, and senior vice president. Malamut’s experience also includes posts at Avanir Pharmaceuticals and Teva Pharmaceutical (NYSE: [[ticker:TEVA]]). Collegium develops and sells pain … Continue reading “Braeburn Pharma’s Malamut Joins Collegium as Chief Medical Officer”
Celgene Files for FDA Approval of Blood Disease Drug
An experimental blood disease drug cited as one of Celgene’s key pipeline assets has been filed for FDA approval. Summit, NJ-based Celgene (NASDAQ: [[ticker:CELG]]) said Friday that it submitted the application for luspatercept as a treatment for patients who have anemia, or low red blood cell counts, caused by either of two blood diseases: myelodysplastic … Continue reading “Celgene Files for FDA Approval of Blood Disease Drug”
TX Tech: Made In, Jog.ai, Vital Farms, BBL & Advice from Mark Cuban
Let’s catch up with the latest innovation news in Texas. —Newchip, an Austin online market of crowdfunded deals, has accepted 45 startups into its remote accelerator program, according to a press release. The startups, sorted by Newchip into seed, pre-seed, and MVP/beta stages, will go through the company’s 10-week program. Unlike many accelerators, Newchip doesn’t … Continue reading “TX Tech: Made In, Jog.ai, Vital Farms, BBL & Advice from Mark Cuban”
Boston Tech Watch: Huawei, Care.com, Cambridge Blockchain & PayPal
Investors took restaurant technology startups out to lunch with monster nine-figure funding rounds. The Wall Street Journal investigation into Care.com leads investors to sue in Boston. MIT kicks Huawei and ZTE to the curb. Read these and more in this week’s Boston tech news: —MIT cut ties with Chinese technology giant Huawei and ZTE “due … Continue reading “Boston Tech Watch: Huawei, Care.com, Cambridge Blockchain & PayPal”
Bio Roundup: Gottlieb’s Goodbye, AACR Recap, Migraine Drug Fight & More
Scott Gottlieb’s last day as FDA commissioner is today. His resignation announcement last month surprised some, given the earlier denials about leaving. But after two years of commuting between Connecticut, where his family remained, and the FDA’s Maryland headquarters, he decided to step down from the agency. What will Gottlieb’s legacy be? His efforts to … Continue reading “Bio Roundup: Gottlieb’s Goodbye, AACR Recap, Migraine Drug Fight & More”
Skills, Pills, & Hospital Bills: Amazon Debuts Alexa Health Features
Owners of Amazon’s voice-controlled, Internet-connected speakers can now use the gadgets to manage more aspects of their healthcare, following the company’s announcement Thursday that its Alexa devices can interface with software applications that process protected health information. As part of the announcement, Amazon (NASDAQ: [[ticker:AMZN]]) unveiled six “Alexa healthcare skills,” which allow patients to book … Continue reading “Skills, Pills, & Hospital Bills: Amazon Debuts Alexa Health Features”
UT Health San Antonio Plans New Accelerator for Faculty Research
San Antonio –— The University of Texas Health Science Center at San Antonio is starting an internal accelerator program for inventors who work at the institution, with the goal of picking a first group of five to eight prospective entrepreneurs around May. The accelerator, which UT Health is calling TechNovum, will run its first program … Continue reading “UT Health San Antonio Plans New Accelerator for Faculty Research”
C-Motive Powers Up With $2M to Launch Reimagined Electric Motor
C-Motive Technologies, a small startup in Madison, WI, wants to overhaul the electric motors that power electric vehicles, assembly-line robots, aircraft propellers, and other machines. Now, investors are betting on the company’s vision. This week, C-Motive announced it closed a $2 million investment led by Prime Impact Fund, a Boston-area fund that invests philanthropic dollars … Continue reading “C-Motive Powers Up With $2M to Launch Reimagined Electric Motor”
As AVs Rev Up, the Data Privacy Fight Could Shift to Your Car
There are plenty of unknowns regarding the future of self-driving cars, but one thing is certain: the mobility industry will be fueled by data. And that means automotive companies will have to address many of the same privacy issues that Facebook, Google, and other social media and Internet firms are grappling with now. By 2030, … Continue reading “As AVs Rev Up, the Data Privacy Fight Could Shift to Your Car”
Report: Biogen, Novartis Should Drop Prices of Billon-Dollar SMA Drugs
A new report from a U.S. drug-pricing watchdog takes issue with the high cost of the only approved treatment for spinal muscular atrophy (SMA), a rare genetic disease that affects young children and in some cases leads to a quick death. The report, from the Boston-based Institute for Clinical and Economic Review (ICER), is loaded … Continue reading “Report: Biogen, Novartis Should Drop Prices of Billon-Dollar SMA Drugs”
NGM Bio’s IPO Raises $107M as NASH Drug Continues Clinical Testing
So far this year, NGM Biopharmaceuticals has licensed a drug to Merck, extended a research agreement with that partner, and laid the groundwork to continue mid-stage testing of its wholly-owned lead compound. Now it can add a $107 million IPO to the list. Late Wednesday, NGM sold appoximately 6.7 million shares for $16 apiece, the … Continue reading “NGM Bio’s IPO Raises $107M as NASH Drug Continues Clinical Testing”
Reveal Biosciences Gets Intel’s Backing on “AI-Powered” Pathology
A 25-person startup developing advanced computing tools to speed up pathology work has raised its first institutional financing from a group of investors led by Intel Capital, the corporate investment arm of the chipmaker. The San Diego-based company, Reveal Biosciences, is among 14 early-stage companies with business plans that include artificial intelligence, a catchall term … Continue reading “Reveal Biosciences Gets Intel’s Backing on “AI-Powered” Pathology”