Here are some of the latest headlines from Wisconsin’s innovation community: —FluGen, a Madison-based company trying to develop a universal influenza vaccine, announced topline, preliminary data from a Phase 2 study that demonstrated its M2SR vaccine proved effective in countering a “mismatched” flu virus. The flu virus that makes its rounds each year doesn’t always … Continue reading “WI Watchlist: FluGen, Propeller Health, Gener8tor, EnSync”
Finding True Love Can Be Ruff, But This Startup Could Have Your Match
Too many people treat pet adoption like a one-night stand. “You look at a dog, and see his eyes, and think he’s cute,” says Tama Lundquist, co-president of Houston PetSet, an organization that works with about 70 animal shelters in the Houston area. “But if you’re a couch potato and he likes to run, that’s … Continue reading “Finding True Love Can Be Ruff, But This Startup Could Have Your Match”
Polly Want a Slack Plugin? Seattle Enterprise IT Startup Raises $7M
Some people relish the opportunity to give feedback to individuals and organizations that have served them—think Yelp and Google users who rate every restaurant where they’ve eaten. Others may be less eager to evaluate a recent Uber trip, for example, but must do so before they can request their next ride. In today’s data-driven world, … Continue reading “Polly Want a Slack Plugin? Seattle Enterprise IT Startup Raises $7M”
Nimbus Picks Janssen’s Tummino for Chief Scientific Officer Post
Nimbus Therapeutics has appointed Peter Tummino to serve as its chief scientific officer. Tummino comes to the Cambridge, MA, company from Johnson & Johnson (NYSE: [[ticker:JNJ]]) subsidiary Janssen, where he was vice president and global head of lead discovery. His experience also includes multiple roles at GlaxoSmithKline (NYSE: [[ticker:GSK]]). Nimbus, which uses computational science to … Continue reading “Nimbus Picks Janssen’s Tummino for Chief Scientific Officer Post”
VelocityTX Lands City Grant for “Innovation Center” Redevelopment
San Antonio — [Updated 2/19/19, 2:30 p.m. See below.] VelocityTX is getting a $750,000 grant and another tax incentive from the City of San Antonio for its redevelopment of a large industrial space that VelocityTX plans to turn into a three-building “innovation center” for tech, life sciences, and other businesses. VelocityTX, which is the innovation arm … Continue reading “VelocityTX Lands City Grant for “Innovation Center” Redevelopment”
Slimmed-Down GE to Repay $87M as It Scales Back Boston HQ Plans
General Electric is backing out of its glitzy Boston ambitions, selling the land it planned to hold a new 12-story headquarters for 800 employees and instead retreating into the two brick buildings on the same site that can hold 250 workers, the company says. The industrial conglomerate and the state economic development authority, MassDevelopment, have … Continue reading “Slimmed-Down GE to Repay $87M as It Scales Back Boston HQ Plans”
It’s Not You, It’s Your Officials: Amazon Cancels HQ Plan for NYC
[Updated, 02/15/19, 8:50 CT] After a whirlwind courtship and brief engagement, Amazon has broken off its plans to establish another headquarters in New York’s Long Island City neighborhood. Amazon (NASDAQ: [[ticker:AMZN]]) rationalized its Valentine’s Day breakup with the Big Apple by saying that the problem was state and local officials, not New Yorkers themselves. A … Continue reading “It’s Not You, It’s Your Officials: Amazon Cancels HQ Plan for NYC”
Passage Bio Gets $116M As Wilson, Yamada Team Up On Gene Therapy Again
Longtime biopharmaceutical executive Tachi Yamada helped keep the work of gene therapy pioneer James Wilson alive 20 years ago when Wilson was mired in controversy and the emerging field was in its darkest days. Now that gene therapy has come of age, in part because of Wilson’s work, the two are teaming up again. They’ve … Continue reading “Passage Bio Gets $116M As Wilson, Yamada Team Up On Gene Therapy Again”
Plant-Breeding Biotech Cibus Delays IPO, Citing Market Conditions
Cibus on Thursday said it is holding off on the initial public offering that was expected to happen this week. “We elected to postpone our offering given current market and technical conditions,” said co-founder and CEO Peter Beetham in a press release. It’s unclear exactly what conditions spurred the company to postpone at the last … Continue reading “Plant-Breeding Biotech Cibus Delays IPO, Citing Market Conditions”
Skyhawk Therapeutics Appoints Guerciolini Chief Medical Officer
Roberto Guerciolini is now chief medical officer of Skyhawk Therapeutics. Guerciolini’s experience includes posts at Wave Life Sciences (NASDAQ: [[ticker:WVE]]), SIRNA Therapeutics, and Dicerna Pharmaceuticals (NASDAQ: [[ticker:DRNA]]). Waltham, MA-based Skyhawk is developing RNA-targeting drugs to treat cancer and neurological diseases. Skyhawk launched a little more than a year ago; last June, the company landed a … Continue reading “Skyhawk Therapeutics Appoints Guerciolini Chief Medical Officer”
TCR²’s IPO Raises $75M to Bring Cancer Cell Therapy to Solid Tumors
Cancer immunotherapy developer TCR² Therapeutics has raised $75 million in an IPO, which it will use for clinical trials to test a type of immunotherapy intended to treat a wider range of cancers than current cell therapies. Late Wednesday, TCR² priced its offering of 5 million shares at $15 apiece. The Cambridge, MA, company had … Continue reading “TCR²’s IPO Raises $75M to Bring Cancer Cell Therapy to Solid Tumors”
Xnor.ai Makes Solar-Powered Computer Chip to Crunch, Learn from Data
By now, many consumers know that uploading a photo, video, or other file to “the cloud” on a service like Google or Facebook often means storing it in a data center. But the computer servers inside data centers don’t just store information—they are constantly processing complex algorithms and using energy to glean new insights for … Continue reading “Xnor.ai Makes Solar-Powered Computer Chip to Crunch, Learn from Data”
DBV Rejoins Peanut Allergy Treatment Race, But Aimmune Takes the Lead
[Updated 9:20 p.m., see below.] DBV Technologies is jumping back into the race to bring an FDA-approved peanut allergy treatment to the market, but it might not be enough to beat its main rival. The France-based company says it expects to resubmit its application for FDA approval of Viaskin Peanut, the company’s experimental peanut allergy … Continue reading “DBV Rejoins Peanut Allergy Treatment Race, But Aimmune Takes the Lead”
Mission Edge Taps 10 Businesses for “Social Enterprise” Accelerator
Mission Edge, a nonprofit organization backed by the San Diego Foundation and three corporations, has chosen 10 companies and organizations to participate in a 12-week program intended to improve each entity’s financial performance, and thereby long-term sustainability. Called the Social Enterprise Accelerator and Impact Lab (SAIL), the program has previously taken place twice. SAIL’s sponsors … Continue reading “Mission Edge Taps 10 Businesses for “Social Enterprise” Accelerator”
Johnson & Johnson to Buy Robotics Startup Auris Health for $3.4B
[Updated 2:07 p.m. See below.] Johnson & Johnson is acquiring medical robotics developer Auris Health for $3.4 billion in cash, a deal that builds on the company’s stated plans to become a player in “digital surgery.” Privately held Auris has commercialized a robotic system cleared by the FDA to assist surgeons in diagnosing and treating … Continue reading “Johnson & Johnson to Buy Robotics Startup Auris Health for $3.4B”
Autonomous Truck Company TuSimple Adds $95M to Rev Up Commercial Fleet
TuSimple has pulled in $95 million more in venture funding to advance its development of a commercial autonomous fleet of trucks. The new Series D round of financing announced Wednesday boosts the San Diego-based company’s valuation to land it on the growing list of “unicorns”—the tech-world term coined for companies valued at $1 billion or above. … Continue reading “Autonomous Truck Company TuSimple Adds $95M to Rev Up Commercial Fleet”
Why Did Amazon Buy Eero? Wi-Fi Users Covet Simplicity, Security
Being able to call on Alexa, the voice of Amazon’s Echo virtual assistants, to play a song or read a weather forecast requires a working Internet connection, of course. Amazon has now opened new avenues to put its own stamp on Wi-Fi routers and other home networking equipment, following the company’s purchase of San Francisco-based … Continue reading “Why Did Amazon Buy Eero? Wi-Fi Users Covet Simplicity, Security”
Losing “Scalps”? Despite Pharma Fear, A Split on Trump Rx-Price Plans
Despite angry presidential tweets and other anti-pharma rhetoric, the drug industry has benefited under the Trump administration, thanks in part to a massive corporate tax cut. Indeed, for nearly two decades, the industry has been able to fend off its critics and gain win after win from politicians and regulators, including tax holidays, faster drug … Continue reading “Losing “Scalps”? Despite Pharma Fear, A Split on Trump Rx-Price Plans”
Neurogene Names Stuart Cobb Chief Scientific Officer
Gene therapy developer Neurogene has appointed Stuart Cobb to serve as its chief scientific officer. Cobb is currently a scientist at the University of Edinburgh. Neurogene says he will split his time between the university and the New York-based company. Neurogene recently raised $68.5 million in Series A financing to support research and development of … Continue reading “Neurogene Names Stuart Cobb Chief Scientific Officer”
Graybug Vision Taps Ex-Novartis Exec Guerard for CEO Post
Frédéric Guerard has been appointed CEO of Graybug Vision. Guerard joins the Redwood City, CA-based eye diseases drug developer from Novartis (NYSE: [[ticker:NVS]]), where he had several roles, most recently worldwide business franchise head of ophthalmology. Graybug’s lead drug candidate, GB-102, is being prepared for Phase 2 studies testing it as a treatment for the … Continue reading “Graybug Vision Taps Ex-Novartis Exec Guerard for CEO Post”
May Mobility Snags $22M Investment, Will Expand to New Cities in ’19
May Mobility, an Ann Arbor, MI-based startup developing self-driving shuttles, today announced that it has raised a $22 million Series A funding round. The company has raised approximately $33.5 million since its inception in 2017. The new investment was co-led by Millennium New Horizons and Cyrus Capital Partners, with participation from LG Technology Ventures, Thayer … Continue reading “May Mobility Snags $22M Investment, Will Expand to New Cities in ’19”
Neurogene Emerges with $68M to Advance Gene Therapies to the Clinic
Neurogene is breaking into gene therapy with $68.5 million in new funding to support research on experimental treatments for rare, genetic brain disorders, the first of which could start human testing next year. So far, New York-based Neurogene has disclosed two of its preclinical programs. One is a treatment for aspartyglucosaminuria (AGU), an inherited enzyme … Continue reading “Neurogene Emerges with $68M to Advance Gene Therapies to the Clinic”
Providence St. Joseph Acquires Seattle Blockchain Startup Lumedic
Providence St. Joseph Health said Monday it has acquired Lumedic, a startup developing blockchain-based software aimed at improving how healthcare providers bill for care and manage reimbursements from insurers. The deal, which Providence did not disclose the terms of, marks a rapid path from launch to exit for Seattle-based Lumedic. Michael Nash, the company’s founder … Continue reading “Providence St. Joseph Acquires Seattle Blockchain Startup Lumedic”
Endeavor Robotics Sold for $385M in Deal with Oregon’s FLIR Systems
Endeavor Robotics, a military robot-maker based in Chelmsford, MA, is being bought by FLIR Systems for $385 million in cash, the companies announced Monday. Wilsonville, OR-based FLIR said the deal will bolster its growing unmanned systems business at a time when the U.S. military is increasingly planning on a robot-aided future. FLIR (NASDAQ: [[ticker:FLIR]])—which primarily makes … Continue reading “Endeavor Robotics Sold for $385M in Deal with Oregon’s FLIR Systems”
With Low Expectations, Gilead’s Top NASH Drug Fails 1st Major Test
Gilead Sciences (NASDAQ: [[ticker:GILD]]) said after market close Monday that its most advanced candidate to treat the fatty liver disease known as NASH failed the first of two Phase 3 trials. NASH, or nonalcoholic steatohepatitis, is a quickly growing condition, thanks to the obesity epidemic. It causes liver inflammation and scarring, and when it progresses … Continue reading “With Low Expectations, Gilead’s Top NASH Drug Fails 1st Major Test”
Houston Health IT Firm Decisio Forms Partnership with GE Healthcare
Houston—Houston medtech startup Decisio Health is partnering with GE Healthcare to accelerate a broader deployment of its critical care dashboard. Financial terms of the deal weren’t disclosed. GE says it will integrate Decisio’s software into its Mural virtual care platform, which aims to prioritize “a clinician’s attention to the most critical patient cases with the … Continue reading “Houston Health IT Firm Decisio Forms Partnership with GE Healthcare”
San Antonio Life Science Business Acelity Cuts 260 Jobs in Texas, NC
San Antonio—Acelity, a decades-old San Antonio life sciences company known for its wound-healing technologies and tissue-repair products, plans to lay off 200 employees at its San Antonio headquarters and another 60 in Charlotte, NC, a company spokesperson said. The job cuts are occurring in “the coming months” and are part of changes Acelity is making … Continue reading “San Antonio Life Science Business Acelity Cuts 260 Jobs in Texas, NC”
Abeona Therapeutics CEO João Siffert Sheds “Interim” Title
After three months as the interim CEO of gene-therapy developer Abeona Therapeutics (NASDAQ: [[ticker:ABEO]]), João Siffert will drop the interim part of his title. Siffert took over when previous CEO Carsten Thiel was suddenly ousted for what the company called “personal misconduct.” Thiel had only been in the position for seven months. Siffert joined Abeona … Continue reading “Abeona Therapeutics CEO João Siffert Sheds “Interim” Title”
AbbVie Joins Myeloma Race with $90M Deal for Rights to Teneobio Drug
AbbVie is paying $90 million up front for rights to a multiple myeloma drug from Teneobio that’s now being prepared for tests in humans. The Teneobio drug, TNB383B, is the first to come out of the labs of the Menlo Park, CA, biotech. Under the deal, AbbVie has the right to develop the drug after … Continue reading “AbbVie Joins Myeloma Race with $90M Deal for Rights to Teneobio Drug”
Qualcomm Sells Medical Device Connectivity Business to PE Firm
Francisco Partners, a San Francisco-based private equity firm, said Monday it has acquired Qualcomm Life, a subsidiary of the San Diego chipmaker that focuses on connecting medical devices to software applications installed at hospitals and other healthcare organizations. Terms of the deal between Qualcomm (NASDAQ: [[ticker:QCOM]]) and Francisco Partners weren’t disclosed. The company will be … Continue reading “Qualcomm Sells Medical Device Connectivity Business to PE Firm”
Roundup: Riser’s New Role, STEM Summit, U-M AV News, and More
Let’s catch up on Michigan’s latest innovation news: —[Clarification, 2/11/19, 9:31 p.m.; see below.] Earlier this month, U.S. Rep. Debbie Dingell (D-MI 12) announced that the University of Michigan will receive a $2.5 million grant through the U.S. Department of Transportation’s University Transportation Centers program to continue funding for the Center for Connected and Automated Transportation. … Continue reading “Roundup: Riser’s New Role, STEM Summit, U-M AV News, and More”
Emergency Services Cloud Software Maker RapidDeploy Nets $12M
Austin—Public safety software developer RapidDeploy has raised $12 million in a Series A funding round. Investors include GreatPoint Ventures and Samsung Next. The funds will be used to help RapidDeploy accelerate development and marketing of its Cloud Aided Dispatch platform, the company said in a press release Monday. RapidDeploy, which was founded in 2014, says … Continue reading “Emergency Services Cloud Software Maker RapidDeploy Nets $12M”
GV Taps Ex-Agios CEO Schenkein to Lead Life Science Investments
It hasn’t taken former Agios Pharmaceuticals CEO David Schenkein very long to find a new gig. Schenkein—the Genentech veteran who helped steer Agios (NASDAQ: [[ticker:AGIO]]) to two drug approvals in less than a decade—has been hired by GV, the venture arm of Google’s parent company, Alphabet (NASDAQ: [[ticker:GOOGL]]), Bloomberg first reported. In his new role … Continue reading “GV Taps Ex-Agios CEO Schenkein to Lead Life Science Investments”
Matching Amgen, Regeneron to Cut List Price of Heart Drug by 60%
Regeneron Pharmaceuticals and partner Sanofi are cutting the list price of their heart drug alirocumab (Praluent) by 60 percent, the latest acknowledgement that the treatment—which has shown a striking ability to lower cholesterol, but has struggled to sell because of its high price tag—isn’t getting to the patients who need it. Starting in early March, … Continue reading “Matching Amgen, Regeneron to Cut List Price of Heart Drug by 60%”
Stably Tacks on $1.2M to Reduce Volatility in Digital Currencies
Stably, a Seattle-based startup developing a service it claims can reduce investors’ exposure to volatility in Bitcoin and other digital currencies’ values, on Thursday announced it has raised $1.2 million in new funding to support Stably’s growth. Digital currencies, or cryptocurrencies, have attracted significant investor attention and news coverage in recent years. One reason is … Continue reading “Stably Tacks on $1.2M to Reduce Volatility in Digital Currencies”
Bain Capital Backs ImageMoverMD’s Medical Image Management Tools
ImageMoverMD, a Madison, WI-based startup trying to modernize the processes for capturing and managing medical images, said Friday it pulled in a $4 million venture investment led by Bain Capital Ventures, Cultivation Capital, and previous backer HealthX Ventures. The startup said it plans to use the new cash to expand the capabilities of its software … Continue reading “Bain Capital Backs ImageMoverMD’s Medical Image Management Tools”
DataRobot Predicts the Grammy Awards’ Song of the Year Is…
With everyone worrying that a robot or artificial intelligence model will take their jobs someday, why shouldn’t The Recording Academy fear its annual task of doling out the Grammy Awards is safe? DataRobot, a Boston-based startup whose machine-learning platform helps companies use algorithms for data analysis without hiring a data science team, is taking a … Continue reading “DataRobot Predicts the Grammy Awards’ Song of the Year Is…”
French Auto Supplier Valeo Moves Toward Mobility with New Innovations
Although the timeline for getting fully driverless cars on the road is in flux, the mobility industry is moving along at a rapid clip. Yet another huge investment in the sector was announced this week when Aurora Innovations, based in Pittsburgh and San Francisco, scored more than half a billion dollars from a group of … Continue reading “French Auto Supplier Valeo Moves Toward Mobility with New Innovations”
Bio Roundup: New CRISPR Feud, A NY Splash, Pharma vs. Congress & More
If you’re into congressional spectacles, stay tuned later this month. A group of top biopharma executives—the full roster isn’t known yet—will testify at a Feb. 26 hearing before the Senate Committee on Finance to defend their drug pricing practices. No executives showed up for the previous hearing, but reports indicate industry has changed its stance … Continue reading “Bio Roundup: New CRISPR Feud, A NY Splash, Pharma vs. Congress & More”
Boston Tech Watch: Boston Dynamics, WeWork, Optimus Ride & Hydrow
Here’s a roundup of the week’s Boston technology news, featuring robots, trade war accounting, self-driving cars, acquisitions, co-working deals, and more. —SoftBank disclosed in financial filings the $37 million in debt financing it provided to robotics startup Boston Dynamics late last year was converted to equity last month. Softbank bought Waltham, MA-based Boston Dynamics from … Continue reading “Boston Tech Watch: Boston Dynamics, WeWork, Optimus Ride & Hydrow”
Genomenon Raises $2.5M, Plans to Increase Work with Pharma Customers
Genomenon, the Ann Arbor, MI-based genomics search engine startup, has raised $2.5 million in what the company calls a “seed extension” round. The equity financing included investments by IrishAngels, a group founded by Notre Dame alumni; H.W. Kaufman Group; Invest Michigan; and all previous investors, including Genomenon CEO Mike Klein. He says the company will … Continue reading “Genomenon Raises $2.5M, Plans to Increase Work with Pharma Customers”
WI Watchlist: Epic Systems, M-WERC, Nordic, Dianomi Therapeutics
It’s time to catch up on some recent headlines from Wisconsin’s innovation community: —Dianomi Therapeutics, a Madison-based life sciences startup, said it received a $3 million investment from San Diego-based Ligand Pharmaceuticals (NASDAQ: [[ticker:LGND]]). The investment includes $2 million in equity funding and $1 million in convertible debt financing, according to a Dianomi spokesperson. As … Continue reading “WI Watchlist: Epic Systems, M-WERC, Nordic, Dianomi Therapeutics”
Gossamer Bio Adds $276M in Second Biotech “Unicorn” IPO of 2019
Gossamer Bio, the San Diego-based biotech founded by former Receptos executives, has raised $276 million in its initial public offering, a total that puts it in a rare class among biotechs that have gone public in recent years. The amount raised surpassed expectations. During the partial federal government shutdown in January, Gossamer announced it would … Continue reading “Gossamer Bio Adds $276M in Second Biotech “Unicorn” IPO of 2019″
Carbonite Buys Webroot for $618M to Offer Security with a Safety Net
Data backup and storage company Carbonite has bought endpoint cybersecurity provider Webroot in a $618 million deal designed to stitch both together into an A.I.-powered automated cloud security software for devices, with built-in emergency backup. Carbonite CEO Mohamad Ali told investors on a conference call, a little over an hour after the deal was announced, … Continue reading “Carbonite Buys Webroot for $618M to Offer Security with a Safety Net”
Harpoon’s IPO Spears $76M as Prostate Cancer Drug Continues Testing
Cancer immunotherapy developer Harpoon Therapeutics is the latest biotech to enter the public markets, raising approximately $76 million in an initial public offering. South San Francisco, CA-based Harpoon offered 5.4 million shares Thursday evening priced at $14 each, which was the midpoint of the range that the company had targeted. Harpoon shares are expected to … Continue reading “Harpoon’s IPO Spears $76M as Prostate Cancer Drug Continues Testing”
Boeing Is Aerion’s Latest Partner in Supersonic Passenger Jet Effort
Seattle may no longer be home to the NBA’s Supersonics, but one of the city’s anchor businesses, Boeing, announced this week it expects to play a key role in a company developing a jet for business travelers designed to fly at the speed of sound. Boeing (NYSE: [[ticker:BA]]) is the latest big-name partner that Aerion, … Continue reading “Boeing Is Aerion’s Latest Partner in Supersonic Passenger Jet Effort”
In Landmark Gene-Editing Study, Sangamo Reports Little Benefit
The first U.S. trial of a gene-editing medicine in humans isn’t going well. Sangamo Therapeutics (NASDAQ: [[ticker:SGMO]]) reported Phase 1 results this morning for its treatment for Hunter syndrome, a rare genetic disease. While relatively safe, the treatment, known as SB-913, did not seem to help patients much, based on measurements of proteins in their … Continue reading “In Landmark Gene-Editing Study, Sangamo Reports Little Benefit”
Hypergiant in Space, Celltex & Saudi, Siete Foods’ $90M, & More TX Tech
Let’s catch up on the latest innovation news in Texas. —Aeglea Biotherapeutics, an Austin biotech, raised $60 million in a secondary public stock offering Wednesday, according to a press release. The company is developing drugs to essentially starve cancers to death. In 2016, it raised $50 million in an IPO. In 2017, co-founder David Lowe, who … Continue reading “Hypergiant in Space, Celltex & Saudi, Siete Foods’ $90M, & More TX Tech”
InventaBioTech, Formerly CytoBioScience, Replaces CEO
San Antonio—The CEO of InventaBioTech, a life sciences business formerly known as CytoBioScience, is stepping down and being replaced by an interim leader. Jim Garvin, who has been the CEO of Inventa since March 2015, shortly before it moved to San Antonio, TX, from Germany, will remain an active contributor to the business, he wrote … Continue reading “InventaBioTech, Formerly CytoBioScience, Replaces CEO”
Seres Lays Off 30% of Staff, CSO Leaves After Pipeline Review
Seres Therapeutics was one of the first microbiome companies to form, back in 2010. And the Flagship Pioneering company was the first to go public. But today, faced with the challenges of developing a fundamentally different kind of therapeutic—consortia of human microbes—the company said it is axing 30 percent of its staff (around 30 employees … Continue reading “Seres Lays Off 30% of Staff, CSO Leaves After Pipeline Review”