Aldeyra Therapeutics has disclosed positive results from the first of multiple Phase 3 studies of a new type of inflammation-fighting medicine the Lexington, MA, company has been testing in a variety of conditions. The study Aldeyra (NASDAQ: [[ticker:ALDX]]) reports on this morning is a Phase 3 trial called “Alleviate,” which tested its drug reproxalap against … Continue reading “New Data Puts Aldeyra One Step Closer to FDA Filing for Eye Drug”
Business Travel Startup Lola Raises $37M to Double Headcount in Boston
[Corrected 3/26/19, 9:52 am. See below.] Business travel software startup Lola is keeping its foot on the gas. The Boston-based company is doubling its headcount—another 60 employees by the end of the year, mostly in sales and engineering—to keep up in the race to dominate the $1.6 trillion global travel market. Lola, started in 2016 … Continue reading “Business Travel Startup Lola Raises $37M to Double Headcount in Boston”
Startup Diversity Pledge Takes National Aim After Start in Austin
Austin—There’s a diversity initiative in Austin that’s gaining interest: The Startup Diversity and Inclusion Pledge has now been signed by some 50 entrepreneurs and investors in the city. The pledge asks any company or individual who signs it to commit to standards such as hiring (and interviewing) a diverse workforce, pay equality, and training about … Continue reading “Startup Diversity Pledge Takes National Aim After Start in Austin”
Amid Acquisition Drama, Celgene Resubmits MS Drug for FDA Approval
Celgene said Monday it has again sent the FDA an application for approval of ozanimod, an experimental multiple sclerosis drug it added to its pipeline in 2015 as part of its $7.2 billion acquisition of San Diego’s Receptos. Just over a year ago, the FDA refused to review Celgene’s application for ozanimod, citing a lack … Continue reading “Amid Acquisition Drama, Celgene Resubmits MS Drug for FDA Approval”
Austin’s Cerity Joins Growing Cohort of Insurance Tech Startups
Austin—Even the most staid of industries can use a boost from technology. Case in point: Cerity, an Austin, TX-based insurance tech startup founded last year says it’s developing software that uses artificial intelligence to match worker’s compensation policies to small businesses that otherwise wouldn’t get them. “It’s hard to get, complex to understand, and cost … Continue reading “Austin’s Cerity Joins Growing Cohort of Insurance Tech Startups”
Sanford Burnham Prebys, WARF Partner on Drug Discovery
A program launched last year by the Wisconsin Alumni Research Foundation to invest in promising biotech discoveries made on the University of Wisconsin-Madison campus will also work with the La Jolla, CA-based Sanford Burnham Prebys Medical Discovery Institute, the organizations said recently. The partnership is part of a broader movement to accelerate the “bench to … Continue reading “Sanford Burnham Prebys, WARF Partner on Drug Discovery”
Analysts: Proteostasis Data Are No Boost vs. Vertex in Cystic Fibrosis
As with cancer and HIV infection, progress in treatment for the genetic disorder cystic fibrosis has come with ever-more sophisticated cocktails of drugs. Proteostasis Therapeutics (NASDAQ: [[ticker:PTI]]) is one of the firms trying to catch up to cystic fibrosis leader Vertex Pharmaceuticals (NASDAQ: [[ticker:VRTX]]), but data it reported this morning did not satisfy investors, who … Continue reading “Analysts: Proteostasis Data Are No Boost vs. Vertex in Cystic Fibrosis”
Qualcomm Backs Industrial IoT Security Firm CyberX in $18M Round
CyberX, an industrial “Internet-of-things” security startup, has raised $18 million in a funding round led by the venture arm of chip-maker Qualcomm (NASDAQ: [[ticker:QCOM]]) and Inven Capital, a cleantech and new energy fund based in Prague, the Czech Republic. Waltham, MA-based CyberX says it has seen rapid sales growth, which it attributes to boards of … Continue reading “Qualcomm Backs Industrial IoT Security Firm CyberX in $18M Round”
Tespo, With a New Office in Detroit, Offers “the Keurig of Vitamins”
Ted Mills spent the first part of his career in finance, eventually starting a investment fund for Manoj Bhargava, the Michigan-based founder of 5 Hour Energy, in 2008. After five years in that role, Mills says it was time to spread his wings. He wanted to bring high-quality supplements to customers’ homes in liquid format, … Continue reading “Tespo, With a New Office in Detroit, Offers “the Keurig of Vitamins””
Thermo Bags Brammer For $1.7B as Gene Therapy Deal Spree Continues
Thermo Fisher Scientific late Sunday evening agreed to buy Brammer Bio for $1.7 billion, yet another bet by a large biopharmaceutical organization on the future of gene therapy. Thermo (NYSE: [[ticker:TMO]]), a Waltham, MA, developer of lab equipment, made an all-cash offer for Cambridge, MA-based Brammer, a contract manufacturer of gene therapy delivery tools known … Continue reading “Thermo Bags Brammer For $1.7B as Gene Therapy Deal Spree Continues”
Q&A: Brains Behind Vicis’s Youth Helmet Talks Ratings, Safety & More
Football leagues at every level, from those made up of youth teams to the U.S.’s hugely popular National Football League, are taking steps aimed at making the sport safer for players. These efforts include rule changes outlawing certain types of contact, such as dangerous hits, and programs that instruct players and coaches on proper tackling … Continue reading “Q&A: Brains Behind Vicis’s Youth Helmet Talks Ratings, Safety & More”
Bolt Founder Ben Einstein Leaves Hardware Tech VC Firm
Ben Einstein, co-founder and general partner of hardware-focused investor Bolt, says he has left the venture capital firm he started as his partner, Grace, enters chemotherapy for a cancer diagnosis. “Through this gut-wrenching experience, the things I enjoy doing and that give me energy are clearer than ever: I am a builder,” Einstein wrote in … Continue reading “Bolt Founder Ben Einstein Leaves Hardware Tech VC Firm”
Turning Point Therapeutics Plans IPO to Advance Targeted Cancer Drugs
Turning Point Therapeutics, which is developing targeted cancer drugs for patients whose tumors resist other precision therapies, has outlined plans for an IPO. The company, which started operations in 2014, has raised nearly $148 million since inception. It is headed by Athena Countouriotis, who joined the company in May as its chief medical officer, then … Continue reading “Turning Point Therapeutics Plans IPO to Advance Targeted Cancer Drugs”
AgileCraft’s Exit, $45M for Ojo Labs, Intel Grants & More TX Tech
Let’s catch up with the latest innovation news in Texas. —Georgetown, TX-based AgileCraft was acquired by Australia-based Atlassian (NASDAQ: [[ticker:TEAM]]), the team collaboration and productivity software maker, for $166 million. AgileCraft makes planning software that helps executives build and manage how the company’s projects develop. It’s focused more on leaders in a business than engineering … Continue reading “AgileCraft’s Exit, $45M for Ojo Labs, Intel Grants & More TX Tech”
Boston Tech Watch: Notarize, Optimus Ride, LogRocket & More
The self-driving cars are coming (to a gated development near you). Board additions at a novel tech startup. Another big funding round for an industrial 3D printing startup. The Endeavor v. QinetiQ robot competition’s final chapter. Read on for more. —Online notary startup Notarize is adding senior LogMeIn and State Street executives to its board. … Continue reading “Boston Tech Watch: Notarize, Optimus Ride, LogRocket & More”
Bio Roundup: Sage Postpartum Help, Biogen Bids Adu, Heart Beats & More
One group of people in dire need of medical relief got good news this week. The first drug for postpartum depression was approved. With its complicated logistics, side effects, and potential high cost, it won’t be for everyone who experiences the condition—1 of every 9 U.S. women giving birth. But at least it’s an option. … Continue reading “Bio Roundup: Sage Postpartum Help, Biogen Bids Adu, Heart Beats & More”
Upcoming SAE Conference in Detroit to Offer Rides in Autonomous Cars
You’ve heard the self-driving car hype; next month, you can experience a robotic ride firsthand. Metro Detroiters will have the opportunity to take a spin in an autonomous vehicle as part of SAE Demo Days, being held April 5-7 at Detroit’s Cobo Center. The public demonstration, held in conjunction with SAE International’s WCX conference, is … Continue reading “Upcoming SAE Conference in Detroit to Offer Rides in Autonomous Cars”
Adieu to Adu: Biogen’s Big Alzheimer’s Bet Flops, Shares Routed
Another once-promising drug for Alzheimer’s disease has failed. And the news is devastating for the drug’s developer, Biogen (NASDAQ: [[ticker:BIIB]]), which went all in on a high-stakes gamble that its treatment, aducanumab, might succeed where so many others haven’t. This morning, Biogen reported that it is stopping two parallel, highly anticipated Phase 3 studies in … Continue reading “Adieu to Adu: Biogen’s Big Alzheimer’s Bet Flops, Shares Routed”
CRISPR Diagnostic Race Heats Up as Sherlock Bio Launches With $35M
The high-stakes race to use CRISPR gene editing technology to create medicines has been underway for years now, and human trials are just starting. But the idea of using CRISPR as a tool to detect and diagnose a disease has been gaining traction, too, and the launch of a new startup today called Sherlock Biosciences … Continue reading “CRISPR Diagnostic Race Heats Up as Sherlock Bio Launches With $35M”
Gamers for Giving Provides Sick Children with Digital Playgrounds
In 2007, Zach Wigal and his friends at Saline High School decided to organize one of Southeast Michigan’s first competitive video game tournaments. They spent months preparing and eventually arranged to rent out the school’s cafeteria. Everything seemed to be in place, and with more than 300 people registered to attend, excitement ran high. Then, … Continue reading “Gamers for Giving Provides Sick Children with Digital Playgrounds”
Corza Health Emerges Led by Former NuVasive, GreatCall Executives
A Chicago-based private equity firm has tapped the former head of NuVasive and finance chief of GreatCall to start a new healthcare company in San Diego. The company, Corza Health, is headed by Greg Lucier, most recently CEO at NuVasive, and backed by the PE firm, GTCR, with money from its $5.25 billion Fund XII. … Continue reading “Corza Health Emerges Led by Former NuVasive, GreatCall Executives”
New Funding for Workplace Software Firms Skedulo and Scope AR
Two young San Francisco companies on Wednesday announced fundraisings to bolster their online services aimed at improving workforce efficiency. —Skedulo, which helps managers schedule assignments for field service personnel, says it raised $28 million in a Series B funding round led by M12, Microsoft’s corporate venture arm. Joining in the round were previous investors Blackbird, … Continue reading “New Funding for Workplace Software Firms Skedulo and Scope AR”
As Exact Sciences’ Sales Surge, CEO Reflects on 10-Year Turnaround
A decade ago, Kevin Conroy took the CEO job at Exact Sciences, a cancer diagnostic firm on the brink of death. Five years later, the FDA greenlit the company’s first product, Cologuard, which marked the first non-invasive, stool-based DNA screening test approved for detecting colorectal cancer. In the five years since then, Exact (NASDAQ: [[ticker:EXAS]]) … Continue reading “As Exact Sciences’ Sales Surge, CEO Reflects on 10-Year Turnaround”
Genentech’s Lieu Jumps to NGM Bio for Chief Medical Officer Post
Hsiao Lieu has been appointed senior vice president and chief medical officer of NGM Biopharmaceuticals. Lieu is joining South San Francisco, CA-based NGM from Roche’s Genentech unit, where he was vice president of early clinical development. NGM has a five-year research partnership with Merck (NYSE: [[ticker:MRK]]), which recently exercised its option to acquire rights to an … Continue reading “Genentech’s Lieu Jumps to NGM Bio for Chief Medical Officer Post”
Ex-Bayer Exec Adrian Percy Named Finistere Chief Technology Officer
Finistere Ventures has appointed Bayer veteran Adrian Percy to serve as chief technology officer of the San Diego-based venture capital firm. Percy, the former head of research and development for Bayer’s crop science division, will be based in a new office Finistere is opening in the Research Triangle Park region of North Carolina. Finistere also … Continue reading “Ex-Bayer Exec Adrian Percy Named Finistere Chief Technology Officer”
Pfizer Bolsters Gene Therapy Position with $51M Vivet Deal
Pfizer this morning added to its methodical push into the gene therapy field, paying $51 million for a 15 percent stake in Vivet Therapeutics and the option to buy the Parisian biotech in the future. Vivet is developing an experimental gene therapy, VTX-801, for the rare genetic disorder Wilson’s disease, which causes a potentially deadly … Continue reading “Pfizer Bolsters Gene Therapy Position with $51M Vivet Deal”
Flagship Reloads With $824M For Latest Growth Capital Fund
Flagship Pioneering, one of the Boston area’s top biotech company creators, has closed a new $824 million fund to help fuel the growth of its startups. The new fund—Special Opportunities Fund II—will complement the cash the firm uses to start its companies, much like the $285 million “Special Opportunities” fund the firm announced in 2016. In … Continue reading “Flagship Reloads With $824M For Latest Growth Capital Fund”
3D Printing Startup Markforged Raises $82M to Invest in Products
Venture capital seems to be onboard with the fourth industrial revolution. As the proud poster children for the tech-driven wave of change, industrial 3D printing companies have raised big dollars in the last few years, with Burlington, MA-based Desktop Metal in a $160 million funding round in January. And now Watertown, MA-based Markforged has punched … Continue reading “3D Printing Startup Markforged Raises $82M to Invest in Products”
New Accelerator Aims For Social Change With AR, VR, Gaming Startups
Games for Change, a non-profit that promotes the use of games and immersive technology for social good, is taking applications from startup teams for a new accelerator program it’s launching in New York City. New York-based Games for Change already encourages game and XR developers, by a variety of means, to build societal benefits into … Continue reading “New Accelerator Aims For Social Change With AR, VR, Gaming Startups”
U.S. Energy Dept. Awards $500M Supercomputer Contract to Intel, Cray
Computer chipmaker Intel and its subcontractor, Seattle-based Cray, say they expect a supercomputer they plan to eventually deliver will be a flop—an exaflop, that is. The U.S. Department of Energy’s Argonne National Laboratory has hired Intel (NASDAQ: [[ticker:INTC]]) and Cray (NASDAQ: [[ticker:CRAY]]) to build what the companies said Monday would be the first exascale supercomputer … Continue reading “U.S. Energy Dept. Awards $500M Supercomputer Contract to Intel, Cray”
FDA OKs Depression Drug For New Moms: Fast Relief But Tough to Take
The FDA has just made brexanolone (Zulresso) the first medicine approved specifically for post-partum depression, a potentially devastating disorder that afflicts roughly one in every seven new mothers in the U.S., according to the American Psychological Association. Now the drug’s owner, Sage Therapeutics (NASDAQ: [[ticker:SAGE]]), of Cambridge, MA, must convince doctors to prescribe and new … Continue reading “FDA OKs Depression Drug For New Moms: Fast Relief But Tough to Take”
Erie Hack Aims to Solve Lake’s Challenges with Tech-Driven Solutions
Even though Michigan is surrounded by one of the world’s most abundant sources of freshwater, it’s still plagued by water-related challenges, such as the Flint water crisis, high lead levels in the water at Detroit public schools, and PFAS contamination. And with the Trump administration looking to cut federal funding for Great Lakes water restoration … Continue reading “Erie Hack Aims to Solve Lake’s Challenges with Tech-Driven Solutions”
Urovant Bladder Drug Hits Test Goals But Can’t Outpace Generic Rival
Urovant Sciences says its experimental drug for overactive bladder could offer advantages compared to an FDA-approved treatment marketed by Astellas Pharma. But late-stage clinical results released Tuesday raise questions whether Urovant can persuade doctors to prescribe it instead of a much cheaper generic competitor. Irvine, CA-based Urovant (NASDAQ: [[ticker:UROV]]) said Tuesday that its drug vibegron … Continue reading “Urovant Bladder Drug Hits Test Goals But Can’t Outpace Generic Rival”
Why Comma.ai, Maker of Self-Driving Tech, is Moving to San Diego
Tech salaries may not be as high outside of Silicon Valley, but neither is the cost of operating a business—or the cost of living. San Diego’s startup community has rejoiced in recent months as massive companies that employ thousands of engineers—including Amazon (NASDAQ: [[ticker:AMZN]]), Apple (NASDAQ: [[ticker:AAPL]]), and the tech arm of Walmart (NYSE: [[ticker:WMT]])—have … Continue reading “Why Comma.ai, Maker of Self-Driving Tech, is Moving to San Diego”
Coming Home Again: Estrada Returns to Lead WeWork Labs in Houston
Houston—Co-working company WeWork is opening its latest “Labs” space in Houston. New York-based WeWork, which has 49 Labs programs across the United States and globe, opened its first Texas location, in Dallas, last fall. WeWork’s Labs is the business’s version of an early stage startup program, offering workshops, mentorship, connections to local accelerator and incubator … Continue reading “Coming Home Again: Estrada Returns to Lead WeWork Labs in Houston”
Magnitude Software Takes $179M from Private Equity Firm 3i Group
Austin—[Updated 10:10 a.m. See below.] Magnitude Software is selling a $179 million stake in the company to London-based private equity firm 3i Group. Chris Ney, the founder, chairman, and CEO of Magnitude, is investing alongside 3i, the company announced. The company didn’t say whether the PE firm’s investment gave it a controlling interest. Magnitude said … Continue reading “Magnitude Software Takes $179M from Private Equity Firm 3i Group”
Flipside Crypto Grading Scheme Expands to CoinMarketCap, Others
Flipside Crypto, a Boston startup developing analytics for cryptocurrencies, has landed its main metric onto CoinMarketCap and other financial websites including MarketWatch, TheStreet and Stocktwits, the company says. Founded in 2017, Flipside says its Fundamental Crypto Asset Score—FCAS for short—rates the health of blockchain-enabled currencies on a 1,000-point scale based on transaction data and the … Continue reading “Flipside Crypto Grading Scheme Expands to CoinMarketCap, Others”
Paratek Pharma’s CFO Pagán to Leave for Job at an Early-Stage Biotech
Douglas Pagán, chief financial officer of Paratek Pharmaceuticals (NASDAQ: [[ticker:PRTK]]) since 2017, is resigning to take a role at an undisclosed early-stage biopharmaceutical company. Boston-based Paratek said Monday that Pagán’s last day will be April 5. He has entered into a consulting agreement through Dec. 23 to help with the transition of his responsibilities and … Continue reading “Paratek Pharma’s CFO Pagán to Leave for Job at an Early-Stage Biotech”
Amgen’s Grauer Joins Corcept Therapeutics as Chief Medical Officer
Corcept Therapeutics (NASDAQ: [[ticker:CORT]]) has appointed Andreas Grauer to serve as chief medical officer. Grauer comes to Menlo Park, CA-based Corcept from Amgen (NASDAQ: [[ticker:AMGN]]), where he was vice president of global development. Corcept develops drugs that modulate a hormone called cortisol to treat metabolic and psychiatric disorders, as well as cancer. Corcept has already … Continue reading “Amgen’s Grauer Joins Corcept Therapeutics as Chief Medical Officer”
AmplifAI Raises $3.9M, Its First Outside Funding, For Call Center AI
Dallas—AmplifAI Solutions, which makes artificial intelligence-enabled software for call center operations, has raised $3.9 million. Investors in the funding round were Dallas-based Naya Ventures, and LiveOak Venture Partners and Capital Factory, both in Austin. AmplifAI has developed software that uses machine learning algorithms to analyze behaviors of top-performing employees in order to create training programs … Continue reading “AmplifAI Raises $3.9M, Its First Outside Funding, For Call Center AI”
The Role of the Student Engineer in Medicine and Innovation
The last 50 years have seen many great technical advances in medical treatments, ranging from drug delivery and imaging to skin grafts and prosthetics. These advances—both large and small—have drawn on many fields and have transformed patient care. When examining the current state of clinical technology, the focus is naturally on the technology and its … Continue reading “The Role of the Student Engineer in Medicine and Innovation”
Dermira Shares Soar After Eczema Drug Hits Goal of Mid-Stage Study
An experimental drug developed by Dermira to treat atopic dermatitis has hit the main goal of its mid-stage study, helping to build a case that the injectable treatment could measure up against a drug from Regeneron Pharmaceuticals and Sanofi. Atopic dermatitis is the most common and severe form of eczema, an inflammatory condition that leads … Continue reading “Dermira Shares Soar After Eczema Drug Hits Goal of Mid-Stage Study”
JLabs’ Luby Takes the Reins at TMC Innovation Institute in Houston
Houston—Tom Luby, the head of JLabs in Houston, has been named the new director of the Texas Medical Center’s Innovation Institute, the center announced Monday morning. Luby takes over the innovation institute three months after former director Erik Halvorsen left the role. Luby is already a known presence around the TMC innovation building thanks to … Continue reading “JLabs’ Luby Takes the Reins at TMC Innovation Institute in Houston”
Igneous Raises $25M to Support On-Premise Approach to Data Storage
Igneous, a Seattle-based data-storage startup that manages servers and other on-premise computing equipment for its customers, announced on Friday $25 million in new financing. WestRiver Group, an investment firm collaborative based in Kirkland, WA, led the Series C funding round, Igneous said. Other participants included return backers Madrona Venture Group, New Enterprise Associates, Redpoint Ventures, … Continue reading “Igneous Raises $25M to Support On-Premise Approach to Data Storage”
Servier Licenses CureMatch Tech for Custom Cancer Drug Treatments
A global pharmaceutical company based in France has licensed software developed by San Diego digital health startup CureMatch that aims to help cancer doctors customize the combination of drugs they prescribe to patients based on mutations in cancer DNA. CureMatch was founded in 2015 to commercialize technology developed at the UC San Diego Moores Cancer … Continue reading “Servier Licenses CureMatch Tech for Custom Cancer Drug Treatments”
Qualcomm Gets $31M in Patent Infringement Trial Win Over Apple
Wireless giant Qualcomm notched a win Friday in its ongoing multijurisdictional war with smartphone maker Apple as a federal jury in San Diego unanimously backed its patent infringement case. Qualcomm (NASDAQ: [[ticker:QCOM]]) said Friday that the jury found that some versions of Apple’s iPhones—the 7, 7 Plus, 8, 8 Plus, and X—infringed two of its … Continue reading “Qualcomm Gets $31M in Patent Infringement Trial Win Over Apple”
M:Bility Conference: Panel Talks Factors Fueling Future of AV Industry
At AutoWorld’s M:Bility conference in Dearborn, MI, this week, a wide variety of topics pertaining to the mobility industry and the development of driverless technology were covered in keynote and panel discussions, including mapping and sensors, artificial intelligence, automotive data, mobility-as-a-service, electrification, and 5G connectivity. However, running through all topics was a measure of caution … Continue reading “M:Bility Conference: Panel Talks Factors Fueling Future of AV Industry”
CesiumAstro, MAP Health, StoryFit, Hatch Pitch & More Texas Tech
[Updated 3/14/19, 1:53 pm CT. See below.] Another South By Southwest festival comes to a close in Austin. Let’s catch up with the highlights from the tech portion this year and other innovation news in Texas. —CesiumAstro, an Austin-based maker of antennas and communications systems for satellites, said it has raised $12.4 million in a Series … Continue reading “CesiumAstro, MAP Health, StoryFit, Hatch Pitch & More Texas Tech”
Illumina’s Michael Ball Joins Contextual Genomics as CEO
Cancer genomics company Contextual Genomics has appointed Michael Ball to serve as its CEO. Ball comes to the Vancouver, BC-based company from Illumina (NASDAQ: [[ticker:ILMN]]), where he was global vice president commercial, informatics. Ball was previously CEO of GenoLogics Life Sciences Software, which was acquired by Illumina in 2015. Contextual Genomics develops molecular tests that … Continue reading “Illumina’s Michael Ball Joins Contextual Genomics as CEO”
Bio Roundup: Golumbeski’s Legacy, CRISPR Moratorium, Rebate Week & More
While all eyes in the biopharmaceutical world are currently trained on Bristol-Myers Squibb’s proposal to buy Celgene for $74 billion, it wasn’t that long ago that another company’s gaze was fixed on the Summit, NJ, drug maker. In the early 2000s, before the FDA approved Celgene’s flagship multiple myeloma drug lenalidomide (Revlimid), Novartis (NYSE: [[ticker:NVS]] … Continue reading “Bio Roundup: Golumbeski’s Legacy, CRISPR Moratorium, Rebate Week & More”