Erasca, a biotech startup run by the former CEO of Ignyta, debuted in December with $42 million and an audacious plan to “erase cancer,” but provided little explanation as to how. Erasca is still keeping many of those details under wraps. But Jonathan Lim, the company’s co-founder and executive chairman, this week outlined, at least … Continue reading “Joining AI Drug Discovery Race, Erasca Adds $22M For Cancer Work”
Blue Squad Aims to Bring Election Tech Up and Down the Ballot
Austin—All politics is local, the adage goes, and those campaigns are sorely stuck in analog mode. That’s why Shion Deysarkar co-founded Blue Squad two years ago as a “digital coalition” to support progressive candidates by providing them with greater access to accurate voter data. Now, Blue Squad is more formally launching as a political tech startup … Continue reading “Blue Squad Aims to Bring Election Tech Up and Down the Ballot”
Vertex Faces Choice After Second CF Drug Combo Succeeds in Phase 3
An experimental Vertex Pharmaceuticals cystic fibrosis treatment that combines three of the company’s drugs has hit the main goals of two late-stage studies. It’s the second cystic fibrosis (CF) three-drug cocktail from Boston-based Vertex that has succeeded in two Phase 3 studies. With positive results for both drug combos, the company now must choose which … Continue reading “Vertex Faces Choice After Second CF Drug Combo Succeeds in Phase 3”
Data in Hand, Alnylam to Seek OK for Second RNAi Drug
Alnylam Pharmaceuticals this morning released new data that it believes to be good enough to bring the second-ever RNA interference medicine to market, a treatment for a potentially deadly, rare genetic disease called acute hepatic porphyria. Alnylam’s (NASDAQ: [[ticker:ALNY]]) experimental drug givosiran met its main goal in a 94-patient Phase 3 study called Envision. The … Continue reading “Data in Hand, Alnylam to Seek OK for Second RNAi Drug”
Beam Brings In $135M to Turn CRISPR Base Editing into Drugs
Beam Therapeutics made a splash last year when it launched with $87 million to develop medicines that use a more precise form of CRISPR editing. Beam’s promise of CRISPR-based therapeutics that swap out specific bases or “letters” in the genome—something the current generation of CRISPR-based drugs can’t do—has been so enticing to investors that now … Continue reading “Beam Brings In $135M to Turn CRISPR Base Editing into Drugs”
A Glimpse of A.I.’s Future? MIT-IBM Research Lab Sees Early Progress
The capabilities of artificial intelligence technologies have increased significantly in the past decade, but there’s a growing sense that new breakthroughs are needed for the field to continue delivering on its promise. David Cox and his colleagues have dedicated themselves to identifying and breaking down “the fundamental core barriers” to advancing A.I., he says. In … Continue reading “A Glimpse of A.I.’s Future? MIT-IBM Research Lab Sees Early Progress”
Two Years and Done: FDA Commissioner Gottlieb To Resign
Two months after insisting on Twitter that he wasn’t going anywhere, Food and Drug Administration Commissioner Scott Gottlieb announced his resignation today. He leaves a record of health and medical regulation that was more active than critics who spoke out against his nomination in early 2017 might have expected. Gottlieb’s remit extended beyond drugs, of … Continue reading “Two Years and Done: FDA Commissioner Gottlieb To Resign”
Tasso Gets $6M For Device That Lets Users Self-Collect Blood Samples
Tasso, a Seattle-based startup that is developing an at-home blood sample collection device, announced Tuesday it has raised $6.1 million from investors. The new money will support its effort to launch sales of the device, Tasso OnDemand, in the coming months, and to add staff, Tasso says. Vertical Venture Partners, a Silicon Valley-based investment fund, … Continue reading “Tasso Gets $6M For Device That Lets Users Self-Collect Blood Samples”
Angel Networks Most Active Texas Investors Since 2010, Report Says
Austin — Two angel networks in Texas have been the most active investors in the state since 2010. The Houston Angel Network leads the list with 145 investments during the past nine years, followed by the Central Texas Angel Network in Austin with 144 deals, according to data compiled by Seattle-based PitchBook. Capital Factory, which runs … Continue reading “Angel Networks Most Active Texas Investors Since 2010, Report Says”
Smart Factory Tours Aim to Introduce Students to Industry 4.0 Jobs
With record low unemployment in the U.S., it has become increasingly difficult to find workers interested in pursuing factory jobs, especially as manufacturing becomes more high-tech. According to a 2018 study by Deloitte and the Manufacturing Institute, an estimated 2.4 million factory positions will go unfilled between 2018 and 2028, with a potential impact of … Continue reading “Smart Factory Tours Aim to Introduce Students to Industry 4.0 Jobs”
WI Watchlist: Kauffman Ranking, Driverless Shuttles, Space Research
Here are some of the latest headlines from Wisconsin’s innovation community: —Well, it’s not last place, but it’s still not a great showing for Wisconsin in the latest assessment of entrepreneurial activity in each state by the Ewing Marion Kauffman Foundation. Wisconsin ranked 45th in the foundation’s “early-stage entrepreneurship index” released in February, which examined … Continue reading “WI Watchlist: Kauffman Ranking, Driverless Shuttles, Space Research”
With New Cash, iUNU to Help More Greenhouses Monitor, Manage Plants
People in the Pacific Northwest who grow plants in greenhouses and nurseries face good odds of turning a profit on their 2019 harvests, according to Spokane, WA-based Northwest Farm Credit Services, which supports farmers, ranchers, and other agribusiness in the region. This positive outlook comes thanks to steady demand for crops, a strong U.S. economy, … Continue reading “With New Cash, iUNU to Help More Greenhouses Monitor, Manage Plants”
Deciphera Pharma’s CEO Taylor to Retire, Hoerter Named Successor
Michael Taylor, president and CEO of Deciphera Pharmaceuticals (NASDAQ: [[ticker:DCPH]]) since 2014, is retiring. Starting on March 18, Taylor will move to a six-month role as senior advisor to the company to help with the transition of his responsibilities. He will also retain his seat on the Waltham, MA, company’s board of directors. The company … Continue reading “Deciphera Pharma’s CEO Taylor to Retire, Hoerter Named Successor”
Ex-PepsiCo Exec Mehmood Khan Joins Life Biosciences as CEO
Life Biosciences has appointed Mehmood Khan to serve as its CEO. Khan joins Boston-based Life Bio from PepsiCo (NASDAQ: [[ticker:PEP]]), where he was vice chairman and chief scientific officer. His experience also includes time at Takeda Pharmaceutical (NYSE: [[ticker:TAK]]), where he was president of the Takeda Global Research & Development Center. In January, Life Bio … Continue reading “Ex-PepsiCo Exec Mehmood Khan Joins Life Biosciences as CEO”
Zafgen Taps Biogen Exec Priya Singhal as New R&D Chief
On the heels of positive Phase 2 data for its lead product, an experimental type 2 diabetes treatment, Zafgen (NASDAQ: [[ticker:ZFGN]]) has hired Priya Singhal as head of R&D. Singhal was most recently a senior VP at Biogen. Zafgen is trying to bounce back from the 2016 decision to abandon its then-lead drug candidate beloranib, … Continue reading “Zafgen Taps Biogen Exec Priya Singhal as New R&D Chief”
Women Who Code in Houston, Sam’s Club, Springdale & More TX Tech
Let’s catch up with the latest innovation news in Texas. —Sam’s Club Now, the Dallas-based innovation center where Walmart’s bulk buying business is located, says it has a new scanning technology that can reduce checkout times. The technology, which uses computer vision and machine learning, will be piloted at the Sam’s Club Now store this … Continue reading “Women Who Code in Houston, Sam’s Club, Springdale & More TX Tech”
Lilly to Launch “Authorized Generic” Insulin Priced at 50% Discount
Eli Lilly is planning to offer a generic version of its blockbuster insulin product that will cost patients approximately half as much. The Indianapolis-based pharmaceutical giant said Monday that the authorized generic, called Insulin Lispro, is the same molecule as its fast-acting insulin Humalog, which carries a list price of approximately $275 per vial. Provided … Continue reading “Lilly to Launch “Authorized Generic” Insulin Priced at 50% Discount”
Precision Bio Preps IPO to Test “Off-the-Shelf” Cancer Cell Therapy
Precision BioSciences has filed for an initial public offering to continue its development of gene-edited cell therapies, including a cancer treatment that is set to start tests in humans in the coming months. The company is also forging ahead in gene therapy and agricultural applications, giving it breadth that sets it apart from others in … Continue reading “Precision Bio Preps IPO to Test “Off-the-Shelf” Cancer Cell Therapy”
Retailers Turn to Analytics, 3D Tech to Promote Fit, Reduce Returns
One size fits most (at best), and a women’s sizing system created during the Depression doesn’t gibe in an e-commerce business that prizes personalization. That’s why startups are turning to new technologies like 3D scanning and machine learning software to produce customized clothing that can be made for the masses. “People want to buy a … Continue reading “Retailers Turn to Analytics, 3D Tech to Promote Fit, Reduce Returns”
Cybersecurity on Tap: Agenda for Cyber Madness in Boston April 8
When it comes to cybersecurity, no one has all the answers. The best anyone can do is try to fend off cyber attacks with the latest technology and strategies, learn from their successes and failures, and maybe even share their experiences for the benefit of others. That last point is the goal of “Cyber Madness: … Continue reading “Cybersecurity on Tap: Agenda for Cyber Madness in Boston April 8”
After AGTC Deal Flops, Biogen Bets $800M on Gene Therapy Rival Nightstar
Biogen’s biggest recent foray into gene therapy, an ill-fated pact with AGTC, didn’t pay dividends. So the company this morning agreed to buy a rival, Nightstar Therapeutics, and its portfolio of gene therapies for rare eye diseases, for $800 million. Biogen (NASDAQ: [[ticker:BIIB]]) this morning agreed to pay $25.50 per share in cash for Nightstar … Continue reading “After AGTC Deal Flops, Biogen Bets $800M on Gene Therapy Rival Nightstar”
Privacy Watch: FTC, Facebook, EU, the Cloud Act, & More CA bills
Privacy issues continued to boil to the surface in February. In part, it’s a reflection of the long tail of consequences that began in early 2018 when the broader public learned that Facebook had shared data from millions of user profiles with now-shuttered political marketing firm Cambridge Analytica. The consequences of that wider public awareness … Continue reading “Privacy Watch: FTC, Facebook, EU, the Cloud Act, & More CA bills”
SPECIAL REPORT: 2019 Biopharma Outlook – Facing an Uncertain Future
After years of boom times, the U.S. biopharmaceutical industry is dealing with unprecedented threats on several fronts: public backlash against high drug prices, slowing sales, and the possibility of more government regulation. In this Xconomy Special Report, our veteran biotech journalists Alex Lash and Ben Fidler bring you deep insights, based on conversations with key … Continue reading “SPECIAL REPORT: 2019 Biopharma Outlook – Facing an Uncertain Future”
Boston Tech Watch: CoinMetrics, Bedrock Data, Modulate & Jobcase
[Updated 10:30 am. See below.] A handful of Boston-area startups landed seed funding rounds this week, while another tech firm raked in $100 million in growth equity. Two acquisitions also rounded out the week’s tech news. —CoinMetrics, a cryptocurrency market data startup, has raised $1.9 million in seed funding from Castle Island Ventures, Fidelity Investments, … Continue reading “Boston Tech Watch: CoinMetrics, Bedrock Data, Modulate & Jobcase”
Bio Roundup: Pharma in DC, Bristol-Cel in Trouble, Roche Gets A Spark
Could a shareholder revolt doom the planned marriage of Bristol-Myers Squibb and Celgene? Analysts have hinted at the possibility since the two companies shook hands in January, but the threat became real this week. Bristol (NYSE: [[ticker:BMY]]) and Celgene (NASDAQ: [[ticker:CELG]]) have campaignned heavily, starting with a joint presentation by their CEOs at the J.P. … Continue reading “Bio Roundup: Pharma in DC, Bristol-Cel in Trouble, Roche Gets A Spark”
State Allocates Funds for Advanced Computing Hub, Incubator Programs
It’s been a busy couple of weeks for state-supported entrepreneurial programs. On Wednesday, the Michigan Strategic Fund (MSF) approved $250,000 to support a new advanced computing hub at Wayne State University as part of the statewide Michigan Translational Research and Commercialization (MTRAC) program. MTRAC seeks to accelerate the transfer of technology developed at Michigan universities … Continue reading “State Allocates Funds for Advanced Computing Hub, Incubator Programs”
What’s Hot in Boston Biotech 2019
Biomedical innovation is moving faster than ever—and yet in 2019, the biopharma industry looks to be in for a bumpy ride. A volatile stock market has slowed biotech’s multi-year bull run, dinging valuations and leaving prospects for future offerings less clear. Mixed signals from the White House have led to even more uncertainty surrounding the … Continue reading “What’s Hot in Boston Biotech 2019”
After a Speedy IPO, Equillium Expands Antibody R&D to Renal Disease
Equillium, a biotech that’s looking to develop an antibody drug for immuno-inflammatory diseases, has added a form of renal disease to the indications for which it aims to develop medicines. It’s the latest step in a fast-moving journey for the La Jolla, CA-based company, which raised about $65 million in an initial public offering in … Continue reading “After a Speedy IPO, Equillium Expands Antibody R&D to Renal Disease”
Ex-Google CEO: New MIT College Could Help Shrink A.I. Talent Gap
Eric Schmidt believes we’re entering an era where artificial intelligence will underpin most facets of human life. But we don’t yet have enough people with the right skills to build that future. Schmidt, the former CEO of Google and former executive chairman of its parent company Alphabet (NASDAQ: [[ticker:GOOGL]]), argues that the A.I. talent shortage … Continue reading “Ex-Google CEO: New MIT College Could Help Shrink A.I. Talent Gap”
Seattle Venture Capital Watch: Modumetal, Illumagear, HaptX & More
February may be the shortest month of the year, but the past four weeks have seen many investments raised by technology businesses based in the Seattle area. Here are some notable deals from the past month: —Modumetal, a Seattle-based company that develops nanolaminated materials for use in armor, vehicles, building exteriors, and other products, raised … Continue reading “Seattle Venture Capital Watch: Modumetal, Illumagear, HaptX & More”
Steve Reed Steps Down as CEO of IDRI to Lead Two Spinout Companies
Steve Reed, president and CEO of the Infectious Disease Research Institute (IDRI), is stepping down from his executive roles. Seattle-based IDRI says Reed will lead two spinouts: OnCo, which will focus on cancer immunotherapies for the developed world, and HDT Bio, which is developing immunotherapies and vaccines. Reed will also continue as a distinguished investigator … Continue reading “Steve Reed Steps Down as CEO of IDRI to Lead Two Spinout Companies”
Immunomedics CEO Michael Pehl Resigns
Michael Pehl has resigned as CEO of Immunomedics (NASDAQ: [[ticker:IMMU]]), 15 months after he left Celgene (NASDAQ: [[ticker:CELG]]) to take the top job at the Morris Plains, NJ, company. In a press release, Immunomedics says Pehl is returning to Europe. According to a securities filing, Pehl will remain an Immunomedics employee for 30 days to … Continue reading “Immunomedics CEO Michael Pehl Resigns”
7 Tips for Biotech Companies Seeking Capital in a Volatile Market
Last year was a remarkable year for biotech companies going public. Not only did an unusually large number of biotech companies go public, but a significant number of early-stage biotech companies went public at premium valuations relative to their later-clinical stage peers. There were approximately 58 biotech IPOs in 2018 (excluding offerings with under $25 … Continue reading “7 Tips for Biotech Companies Seeking Capital in a Volatile Market”
Rani’s “Robotic Pill” for Biologics Clears First Hurdle in Humans
Swallowing a pill is a convenience that’s not available for all drugs. The cells and proteins in biological therapies can’t survive digestive enzymes, whose role is to break things down. That’s why insulin and other biologics must be injected. But what if there were a pill you could swallow that administers the injection inside your … Continue reading “Rani’s “Robotic Pill” for Biologics Clears First Hurdle in Humans”
Carmera, Toyota Research Institute Zoom Ahead on AV Mapping Project
Carmera, the maker of dynamic, real-time, high-definition maps for use in mobility applications, announced today that it has entered into a commercial partnership with Toyota Research Institute-Advanced Development, the carmaker’s division focused on the development of autonomous vehicle technologies. The monetary value of the partnership was not disclosed. The two companies will collaborate on a … Continue reading “Carmera, Toyota Research Institute Zoom Ahead on AV Mapping Project”
Database Automation Software Maker Datical Adds $10M for New Hires
Austin—Datical, which sells software that automates the laborious process of manually updating a database during a software or application release, has added a $10 million Series C round of financing led by Cincinnati, OH-based River Cities Capital Funds. The Austin, TX-based company plans to use the funding to make new hires in research and development, … Continue reading “Database Automation Software Maker Datical Adds $10M for New Hires”
With $191M Haul, Maze Therapeutics Takes Aim at Genetic Diseases
People who share the same disease-causing genetic mutation can have a wide range of severity in their disease. Some don’t get sick at all. Environment can play a role, but with ever-more genetic data available, scientists are unraveling how much other genes can counteract the effect of the main disease-causing gene, too. Two high-profile biotech … Continue reading “With $191M Haul, Maze Therapeutics Takes Aim at Genetic Diseases”
Kaleido Bio Downsizes IPO, Raises $75M for Microbiome Drug Tests
Microbiome drugs developer Kaleido Biosciences is joining the ranks of publicly traded biotechs, but it had to sell more shares and cut their price. The Lexington, MA, company priced its downsized initial public offering of 5 million shares at $15 each, well below the $20 to $22 range it had initially planned. Those shares are … Continue reading “Kaleido Bio Downsizes IPO, Raises $75M for Microbiome Drug Tests”
ATX Seed Ventures Raises Second Investment Fund of $32 Million
Austin—ATX Seed Ventures has closed a $32 million investment fund, the firm’s second. ATX invests in early-stage software, Internet of Things, e-commerce, and mobile application startups. Founded in 2014, ATX Seed Ventures says it now has $60 million in assets under management and has invested in 26 companies, including startups like Everfest, Pensa Systems, and … Continue reading “ATX Seed Ventures Raises Second Investment Fund of $32 Million”
Bristol-Myers’ $74B Celgene Buyout Faces Opposition from Wellington
[Updated 2/28/19, 11:58 a.m. See below.] Bristol-Myers Squibb’s agreement to acquire Celgene for $74 billion is opposed by the New York pharmaceutical company’s largest institutional investor. Wellington Management Group said Wednesday afternoon that while it agrees Bristol should be active in deals that add new science and expand the company’s revenue potential, Wellington “does not believe … Continue reading “Bristol-Myers’ $74B Celgene Buyout Faces Opposition from Wellington”
Microsoft’s M12 Leads $21M Round for Spycloud’s Security Software
Austin—Spycloud, an Austin cybersecurity startup, has raised $21 million. The funding round was led by M12, the venture fund of tech company Microsoft (NASDAQ: [[ticker:MSFT]]). New investor Altos Ventures and existing investors Silverton Partners and March Capital Partners also participated. Spycloud, which was founded three years ago, makes software that prevents hackers from taking over … Continue reading “Microsoft’s M12 Leads $21M Round for Spycloud’s Security Software”
Sarepta Touts More Gene Therapy Data, Snaps Up Myonexus For $165M
Sarepta Therapeutics (NASDAQ: [[ticker:SRPT]]) has been steadily building up its gene therapy capabilities for a few years now, and it took two more steps forward on that front this morning. First, it exercised an option to buy gene therapy startup Myonexus Therapeutics for $165 million. And then it disclosed early human results from the first … Continue reading “Sarepta Touts More Gene Therapy Data, Snaps Up Myonexus For $165M”
Walmart’s Store No 8 Acquires Aspectiva to Bring A.I. to Shopping
Walmart’s Store No 8 innovation arm has acquired an Israeli machine learning startup, the retail giant announced Wednesday. Aspectiva joined the two-year-old Store No 8 Monday, and its employees will remain in Tel Aviv. “Store No 8’s record of innovation and of developing capabilities that will transform retail as we know it makes for the … Continue reading “Walmart’s Store No 8 Acquires Aspectiva to Bring A.I. to Shopping”
Early-Stage VC Firm Sorenson Ventures Closes Inaugural Fund at $110M
Sorenson Ventures, an offshoot of Utah private equity firm Sorenson Capital, announced today it has closed its first fund with more than $110 million to invest in early-stage security and enterprise software companies. The young venture capital firm was formed in 2017 by Sorenson Capital, which recruited former Intel Capital executive Ken Elefant as managing … Continue reading “Early-Stage VC Firm Sorenson Ventures Closes Inaugural Fund at $110M”
Blue-Collar Career Site Jobcase Raises $100M to Advocate for Workers
The social-media jobs platform Jobcase is raking in $100 million in growth funding to expand its blue-collar-oriented workforce site into a place where employees not only can host their qualifications but also can organize and advocate for better treatment from employers. Jobcase founder and CEO Fred Goff says the Cambridge, MA-based startup wants workers’ reviews … Continue reading “Blue-Collar Career Site Jobcase Raises $100M to Advocate for Workers”
Amazon, Google, Facebook Boosted 2018 Tech Hiring Spree in U.S. Hubs
A tech hiring slowdown in 2018 in America’s three largest innovation hubs would not have surprised John Barrett, given global economic uncertainty stemming from factors such as trade disputes, slower economic growth in China and Europe, and the UK’s looming exit from the EU. Instead, the pace of tech hiring in the San Francisco Bay … Continue reading “Amazon, Google, Facebook Boosted 2018 Tech Hiring Spree in U.S. Hubs”
Blackstone, Novartis Start Up Anthos With $250M and a Heart Drug
Blackstone Life Sciences, the biopharma investing arm of private equity firm Blackstone Group, has made its first strike. It has joined with Novartis (NYSE: [[ticker:NVS]]) to start a new biotech, Anthos Therapeutics, backed with $250 million in cash and rights to an experimental drug originally discovered by the Swiss firm. The Cambridge, MA, startup, Anthos … Continue reading “Blackstone, Novartis Start Up Anthos With $250M and a Heart Drug”
Pharma CEOs to Senate: We Will Lower Drug Prices if Rebates Go Away
Seven top pharmaceutical executives gathered today in Washington, DC, for a Senate hearing on drug prices, bringing face-to-face two groups held in the lowest esteem possible by the American public. Top executives from seven companies—AbbVie, AstraZeneca, Bristol-Myers Squibb, Merck, Johnson & Johnson, Pfizer, and Sanofi, which represent a combined $1.1 trillion in market value—stuck to … Continue reading “Pharma CEOs to Senate: We Will Lower Drug Prices if Rebates Go Away”
Rapamycin Holdings Changes Name to Emtora Biosciences, Hires New CEO
San Antonio — Rapamycin Holdings, a life sciences business working to commercialize a new formulation of an immunosuppressant as a prostate cancer drug, has changed its name to Emtora Biosciences and hired a new CEO. Carole Spangler Vaughn is taking over at Emtora for Dan Hargrove, who has spent about 18 months in the chief executive … Continue reading “Rapamycin Holdings Changes Name to Emtora Biosciences, Hires New CEO”
No Details, But AstraZeneca Touts PARP Drug Win in Pancreatic Cancer
It’s no secret that so-called PARP inhibitors, a new class of cancer drugs, have struggled to gain traction commercially, even as they’ve shown promise treating multiple tumor types. But today brings news that could bolster the future prospect of PARP blockers: one of them, a drug known as olaparib (Lynparza) from AstraZeneca and partner Merck, … Continue reading “No Details, But AstraZeneca Touts PARP Drug Win in Pancreatic Cancer”