Tariffs and uncertainty stemming from President Trump’s trade war with China forced iRobot to pay out $8 million to get its vacuum robots into the United States last year and have convinced the company to move some production out of China for the first time since 2002. The Bedford, MA-based company explained its decision to … Continue reading “IRobot: Trade War Takes $8M Toll, Fuels Decision to Leave China”
Fasetto Downloads $6M for Connected Devices and Cloud Tools
Fasetto, a startup developing tech gadgets and software in Superior, WI, has pulled in $6 million in equity funding, according to a document filed this week with the SEC. There was one investor in the deal, the filing shows. Six-year-old Fasetto previously raised at least $13 million from investors, per SEC filings. Xconomy has e-mailed … Continue reading “Fasetto Downloads $6M for Connected Devices and Cloud Tools”
KenSci Gets $22M for Tools to Help Hospitals Flag High-Risk Patients
Transitioning an elderly patient to palliative care can be a difficult decision for caregivers, but it’s one that families and clinicians across the globe make every day. Seattle-based KenSci contends that technology can help all parties make better, more informed choices. The startup’s software has gained traction in hospitals, where KenSci says crunching patient mortality … Continue reading “KenSci Gets $22M for Tools to Help Hospitals Flag High-Risk Patients”
Notary Startup Notarize Lands Wayfair, HubSpot Executive As COO
Notarize, the Boston-based online notary startup, has hired Elizabeth Graham, a former Wayfair and HubSpot executive, to be its new chief operating officer. Graham told Xconomy in an interview that her focus will be on refining the company’s Web app that connects users with one of its notaries based in Virginia, Texas, or Nevada, and … Continue reading “Notary Startup Notarize Lands Wayfair, HubSpot Executive As COO”
With Its First Human Data, Solid Slips in Duchenne Gene Therapy Race
The race to treat Duchenne muscular dystrophy with gene therapy, a one-time, potentially long-lasting treatment, is being closely watched. But new data from Solid Biosciences cast doubt on whether the Cambridge, MA, company can keep pace with the current leader, Sarepta Therapeutics. Solid (NASDAQ: [[ticker:SLDB]]) this morning is disclosing the first results from the first … Continue reading “With Its First Human Data, Solid Slips in Duchenne Gene Therapy Race”
NYCEDC Finally Puts Its NY Bio Fund to Work With $60M For HiberCell
It’s been a question posed for years by many around the New York biotech scene: What is going on with the New York City Economic Development Corp.’s $150 million biotech fund, which was formed in 2013 but hadn’t made an investment? Finally, today, there’s an answer. A small piece of the money from the NYCEDC’s … Continue reading “NYCEDC Finally Puts Its NY Bio Fund to Work With $60M For HiberCell”
Everdays Raises $12 Million for End-of-Life Communication Platform
Mark Alhermizi first found startup success with Gas Station TV, a Birmingham, MI-based company that broadcasted from gas station pumps and was sold to Dan Gilbert’s Rockbridge Growth Equity in 2014 for a reported $100 to $200 million. In 2017, Alhermizi started a new “social platform” venture called Everdays, which was born as a result … Continue reading “Everdays Raises $12 Million for End-of-Life Communication Platform”
Alector IPO Banks $176M to Test Alzheimer’s Drugs in Clinical Trials
Alector, a company taking an immunotherapy approach to Alzheimer’s disease and other brain disorders, has raised approximately $176 million in an initial public offering. The South San Francisco, CA, biotech sold 9.25 million shares Wednesday evening priced at $19 apiece, which was the midpoint of its targeted $18 to $20 per share range. Those shares … Continue reading “Alector IPO Banks $176M to Test Alzheimer’s Drugs in Clinical Trials”
New CRISPR Fight: Old Friends Intellia, Caribou in License Dispute
An epic legal battle over CRISPR-Cas9 genome editing ended last year. But another one, smaller in scope and involving two long-time CRISPR allies, has quietly begun. Last October, Intellia Therapeutics (NASDAQ: [[ticker:NTLA]]) began an arbitration proceeding against Caribou Biosciences, alleging in a recent regulatory filing that its longstanding partner had broken the terms of a … Continue reading “New CRISPR Fight: Old Friends Intellia, Caribou in License Dispute”
Foot Traffic Startup Scraffic Mulls New Funding, Machine Learning
San Antonio—[Updated and corrected 2/15/19, 10:53 a.m. CT. See below.] Scraffic, a small startup that helps retailers count foot traffic in their stores, has gone international. The San Antonio-based business, which has four employees, now has customers in the Philippines, Spain, and Canada, as well as users in the U.S. Scraffic found opportunity to expand … Continue reading “Foot Traffic Startup Scraffic Mulls New Funding, Machine Learning”
Chimerix Executive Michelle Berrey Resigns as CEO, Board Member
Michelle Berrey has resigned as CEO of antiviral drugs developer Chimerix (NASDAQ: [[ticker:CMRX]]). She has also stepped down from the Durham, NC, company’s board of directors. Chimerix gave no reason for Berrey’s resignation. Until her successor is found, the company has created a new position, the office of the chief executive officer, that will be … Continue reading “Chimerix Executive Michelle Berrey Resigns as CEO, Board Member”
Frequency Chief Medical Officer Weber Jumps to Decibel Therapeutics
Peter Weber is now chief medical officer of Decibel Therapeutics, a Boston company developing treatments for hearing loss. Before joining Decibel, Weber was the chief medical officer of Frequency Therapeutics, a clinical-stage company based in Woburn, MA, that is also developing hearing loss drugs. Weber is the head of otology/neurotology at Boston University Medical Center, … Continue reading “Frequency Chief Medical Officer Weber Jumps to Decibel Therapeutics”
Halozyme Gets $30M from Argenx in Licensing Deal Worth Up to $530M
Argenx, a Dutch firm with a pipeline of investigational antibody-based therapies, will pay San Diego-based Halozyme to use its drug delivery technology to develop subcutaneous versions of some of the drugs Argenx is developing to treat rare autoimmune diseases and cancers. The technology Halozyme (NASDAQ: [[ticker:HALO]]) is licensing, called Enhanze, allows drugs that would otherwise … Continue reading “Halozyme Gets $30M from Argenx in Licensing Deal Worth Up to $530M”
Houston Investors Step Up to Bring Tech Innovation to the Energy Sector
Houston—A new crop of investors are backing efforts to support oil-and-gas innovation in Houston—just over three years after the Surge energy accelerator shut its doors. BBL Ventures, a newly formed investment and consulting firm that focuses on energy technologies, will, next week, formally announce an accelerator program at Station Houston next week. The idea, co-founder … Continue reading “Houston Investors Step Up to Bring Tech Innovation to the Energy Sector”
Helmet Maker Vicis Courts NFL QBs to Invest in Latest Funding Round
Aaron Rodgers has taken some trips to the Pacific Northwest he’d probably rather forget. Rodgers, who since 2008 has been the starting quarterback of the National Football League’s Green Bay Packers, has a career 1-4 record in regular season and playoff road games against the Seattle Seahawks, including an overtime loss in 2015 that sent the Seahawks … Continue reading “Helmet Maker Vicis Courts NFL QBs to Invest in Latest Funding Round”
Bolt Bio Bags $54M for Drugs that Turn the Heat Up on “Cold” Tumors
In cancer lingo, “cold” tumors are cancers that the immune system doesn’t recognize or respond to, even when immune-stimulating drugs are given. Bolt Biotherapeutics is developing drugs intended to turn cold tumors—the majority of cancers—“hot” so that other immunotherapies can work, and has raised $54 million to support its research. The Redwood City, CA, startup … Continue reading “Bolt Bio Bags $54M for Drugs that Turn the Heat Up on “Cold” Tumors”
Lauring Leaves Takeda for Chief Medical Officer Post at Kallyope
Brett Lauring is now the chief medical officer of Kallyope. Lauring comes to the New York-based biotech from Takeda Pharmaceutical (NYSE: [[ticker:TAK]]), where he was vice president, translational research and early clinical development. His experience also includes multiple positions at Merck (NYSE: [[ticker:MRK]]). Kallyope, which raised $66 million in financing nearly a year ago, is … Continue reading “Lauring Leaves Takeda for Chief Medical Officer Post at Kallyope”
Health Analytics “Supergroup” Crunches Data to Speed Drug Development
A new healthcare data analysis “supergroup” anchored by technology developed at MIT is getting some help from MMS Holdings, a Canton, MI-based contract service provider to biopharmaceutical companies. The Health Analytics Collective will use artificial intelligence-powered analysis software called Julia to help pharmaceutical companies streamline the process of getting new drugs to market, says Uma … Continue reading “Health Analytics “Supergroup” Crunches Data to Speed Drug Development”
Cyber Madness: Case Studies in Security
Xconomy’s annual spring tech conference in Boston will bring together security-tech founders, executives, and investors, as well as IT leaders from sectors such as finance, legal, and healthcare. The half-day event will focus on how companies have solved specific problems in security—defending against a cyber attack, securing network data, applications, or critical infrastructure, growing a … Continue reading “Cyber Madness: Case Studies in Security”
Connected Car Firm Vinli Raises $13.5M, Partners With Germany’s E.ON
Dallas—Vinli, a connected car analytics startup, announced today it has raised a Series B funding round of $13.5 million. Investors in the round include German utility E.ON, The Westly Group in Menlo Park, CA; Hersh Family Investments, which is based in Irving, TX; and Hal Brierley, a longtime Dallas airline executive. Among the uses for … Continue reading “Connected Car Firm Vinli Raises $13.5M, Partners With Germany’s E.ON”
Cancer Cures and the Importance of Communicating Responsibly
Last week, it was reported by multiple media outlets (see here, and here, and here) that a group of Israeli scientists had found “a cure for all cancer” and that it could be ready within a year. As a long-time life sciences industry executive my knee-jerk reaction was not “finally!” but “crap, not again!” As … Continue reading “Cancer Cures and the Importance of Communicating Responsibly”
Maxwell, Struggling Battery-Technology Maker, to Sell to Tesla
Battery-technology business Maxwell Technologies has agreed to be acquired by Silicon Valley electric car company Tesla (NASDAQ: [[ticker:TSLA]]) in an all-stock deal valued at about $218 million, the San Diego-based company announced Monday. Maxwell (NASDAQ: [[ticker:MXWL]]) said Palo Alto, CA-based Tesla would buy its shares at $4.75 apiece, a 55 percent premium over its stock … Continue reading “Maxwell, Struggling Battery-Technology Maker, to Sell to Tesla”
Privacy Watch: Facebook Rebounds, But Privacy Concerns Accelerate
After Facebook posted a record profit of almost $7 billion in the fourth quarter on nearly $17 billion in revenue last week, an early investor, former advisor to CEO Mark Zuckerberg, and current shareholder said he’s making it a mission to “fix’’ the 15-year-old tech giant. Roger McNamee, in a podcast interview with The New … Continue reading “Privacy Watch: Facebook Rebounds, But Privacy Concerns Accelerate”
ZoomInfo Bought by Washington Marketing Tech Firm DiscoverOrg
Business contact software company ZoomInfo is being acquired by Vancouver, WA-based marketing technology firm DiscoverOrg in a deal that aims combine the pair’s business and personnel intelligence into a single dataset to power enterprise marketing tools. Great Hill Partners, a Boston-based private equity firm that bought ZoomInfo in August 2017 for $240 million, declined to … Continue reading “ZoomInfo Bought by Washington Marketing Tech Firm DiscoverOrg”
Sojournix Appoints Ruth Thieroff-Ekerdt Chief Medical Officer
Ruth Thieroff-Ekerdt has been appointed senior vice president and chief medical officer of Sojournix, a Waltham, MA-based women’s health company. She most recently worked at Kaleido Biosciences as its chief medical officer, a position she previously held at Strongbridge Biopharma and Aptalis Pharmaceuticals. Last month, Sojournix closed a $44 million Series C round of funding. … Continue reading “Sojournix Appoints Ruth Thieroff-Ekerdt Chief Medical Officer”
Microsoft Buys Cloud Service DataSense to Expand Education Suite
BrightBytes, a San Francisco-based education technology company, announced Monday it has sold a data-management platform used by school districts and software businesses to Microsoft. Financial terms weren’t disclosed. Microsoft (NASDAQ: [[ticker:MSFT]]) will work to make the platform, DataSense, part of the Seattle-area company’s Microsoft Education product suite, Steve Liffick, general manager of education strategy and … Continue reading “Microsoft Buys Cloud Service DataSense to Expand Education Suite”
Minim Expands Wi-Fi Security Tool to WISPs with Deal For Aerez
Your smart home thermostat or doorbell may be freelancing in its spare time. “They are phoning home to some bad places,” said Jeremy Hitchcock, CEO of Wi-Fi cybersecurity and management software startup Minim, whose software lives in routers to manage Internet activity and the online activity of IoT devices. (More on Minim’s growth below.) Web-connected … Continue reading “Minim Expands Wi-Fi Security Tool to WISPs with Deal For Aerez”
New Funds for GoCo, CherryCircle, Phynd, Hive9 & More TX Tech
Let’s catch up with the latest innovation news in Texas. —Houston-based human resources software maker GoCo has raised a $7 million Series A round led by ATX Seed Ventures and the investment arm of UpCurve, a maker of technology for small- to medium-sized businesses, the startup reported in a press release. This latest funding brings … Continue reading “New Funds for GoCo, CherryCircle, Phynd, Hive9 & More TX Tech”
Xconomy Awards San Diego Nominations Deadline Extended to Feb. 7
It’s not too late to submit your nominations for the first-ever Xconomy Awards San Diego. We are extending the deadline for nominations to 5 p.m. PST on Thursday, Feb. 7. This week is your last chance to nominate in categories including Digital Trailblazer, CEO, and Secret Weapon. Here is the full category list. This is … Continue reading “Xconomy Awards San Diego Nominations Deadline Extended to Feb. 7”
George Mosher, Milwaukee Startup Investor & Philanthropist, Has Died
George Mosher, a Milwaukee businessman and one of Wisconsin’s most prolific startup investors, died on Thursday after a fight with pancreatic cancer. He was 79. A Boston native, Mosher moved to Milwaukee in 1965 after graduating from Harvard University’s business school. He became president of Business and Institutional Furniture, a catalog furniture company that served … Continue reading “George Mosher, Milwaukee Startup Investor & Philanthropist, Has Died”
FDA Rejects Alkermes Depression Drug, Asks for More Clinical Data
The FDA has rejected a depression drug from Alkermes, unpersuaded that the company’s experimental treatment actually works. Alkermes said Friday afternoon that the FDA’s letter asked the company for additional clinical data “to provide substantial evidence of effectiveness” for the drug, ALKS 5461. The company, which is based in Dublin, Ireland, and maintains a large … Continue reading “FDA Rejects Alkermes Depression Drug, Asks for More Clinical Data”
Seattle Venture Capital Watch: Alpine Immune, Wyze, Aduro, Gaia & More
Welcome to February! Whether your weekend plans involve watching the Super Bowl, tracking this year’s prediction by famed groundhog Punxsutawney Phil, or other activities, take a few minutes to catch up on some of the notable funding rounds raised by Seattle-area tech and life sciences companies in January. —Alpine Immune Sciences (NASDAQ: [[ticker:ALPN]]), a Seattle-based … Continue reading “Seattle Venture Capital Watch: Alpine Immune, Wyze, Aduro, Gaia & More”
Allen Institute Adds Peterson, Hackett to Executive Team
The Allen Institute announced that Todd Peterson has joined as chief scientific officer, a new position at the Seattle bioscience research organization. Before joining the nonprofit institute, Peterson was chief technology officer for La Jolla, CA-based Synthetic Genomics. The institute also hired Lauren Hackett to serve as chief operations officer. She was most recently executive … Continue reading “Allen Institute Adds Peterson, Hackett to Executive Team”
LGS Innovations Plans San Antonio Cyber Hub After $750M Sale to CACI
San Antonio—[Updated 3:02 p.m. See below.] LGS Innovations, a Virginia-based tech company focused on cybersecurity and communications, still expects to open a cybersecurity operations hub in San Antonio, TX, after its acquisition by federal contractor CACI International. LGS announced Jan. 23 it was considering opening a hub in San Antonio for some of its cybersecurity … Continue reading “LGS Innovations Plans San Antonio Cyber Hub After $750M Sale to CACI”
Magnolia Medical Captures $20M to Reduce Blood Culture Contamination
Magnolia Medical Technologies, a Seattle-based manufacturer of devices for collecting blood and bodily fluids, announced this week it has raised $20 million in equity funding to ramp up sales of its flagship product. The funding comes as Magnolia and San Diego-based competitor Kurin battle each other in court. RTW Investments, a New York-based firm that … Continue reading “Magnolia Medical Captures $20M to Reduce Blood Culture Contamination”
BillyGo App Aims to Provide Plumbers on Tap (Within an Hour)
Dallas—His first ride in an Uber brought Billy Stevens out of retirement. It was the ride-hailing app’s ability to locate and dispatch drivers to meet customers that got the gears turning for the master-plumber-turned-entrepreneur, who had sold his plumbing and air-conditioning service business to a private equity firm in 2011. “With plumbing companies, it’s typically … Continue reading “BillyGo App Aims to Provide Plumbers on Tap (Within an Hour)”
Global Detroit Pushes Back on Trump’s Latest Immigration Proposals
President Donald Trump’s demand for more than $5 billion in budget appropriations to build a wall along the southern border of the United States—and congressional Democrats’ refusal to allocate that money—recently sparked the longest partial shutdown of the federal government in the nation’s history. That shutdown is now in temporary reprieve until mid-February, theoretically to … Continue reading “Global Detroit Pushes Back on Trump’s Latest Immigration Proposals”
Bio Roundup: Alzheimer’s Fail, Drug Price Plan, Gene Therapies & More
Pharmaceutical companies typically raise prescription drug prices at the start of each year and this year was no different. The increases were the latest reminder that, despite President Trump’s fiery campaign rhetoric, the administration had done little to actually lower drug prices. But a new plan aimed at the secretive rebate deals between pharma companies … Continue reading “Bio Roundup: Alzheimer’s Fail, Drug Price Plan, Gene Therapies & More”
Boston Tech Watch: Scooters, Toast, Mimecast, AtScale, Acquia & More
An HQ moves eastward. B2B branches into B2C. Acquisitions abound. And VC funds keep rolling in. Read on for more details on technology news in Boston this week. —Boston Mayor Martin J. Walsh has filed an ordinance to license and regulate micro-mobility businesses like scooter-sharing startups Bird and Lime. The proposal, which still needs approval … Continue reading “Boston Tech Watch: Scooters, Toast, Mimecast, AtScale, Acquia & More”
Aleksandra Rizo Departs Celgene for Geron Chief Medical Post
Aleksandra Rizo has been appointed chief medical officer of Geron (NASDAQ: [[ticker:GERN]]). Rizo comes to the Menlo Park, CA, drug developer from Summit, NJ-based Celgene (NASDAQ: [[ticker:CELG]]), where she was executive director, strategy and clinical lead. Geron also says it will open a New Jersey office to support its lead drug candidate, imetelstat. The Geron … Continue reading “Aleksandra Rizo Departs Celgene for Geron Chief Medical Post”
With SEC Reopened, Gossamer Bio Turns Back from Alternative IPO Path
Gossamer Bio is dropping its plan to pursue a little-used path to the public markets and will instead return to a conventional IPO that is reviewed by securities regulators. The company initially filed for an IPO as activity at the SEC ground to a halt during the partial federal government shutdown. The San Diego startup, … Continue reading “With SEC Reopened, Gossamer Bio Turns Back from Alternative IPO Path”
UAS Laboratories Grabs $21.7M for Probiotics Manufacturing Business
UAS Laboratories, a Wausau, WI-based probiotics maker, has pulled in $21.7 million in new equity financing, according to a document filed with securities regulators. Twelve investors participated in the deal, the document shows. The funding comes almost two years since UAS Labs last raised money, a $21.2 million equity financing round. UAS Labs formulates, blends, … Continue reading “UAS Laboratories Grabs $21.7M for Probiotics Manufacturing Business”
Want Better Tech Employees? Give Students More Data, Educators Say
San Antonio—Developers, analysts, and data scientists: Every tech company needs them, particularly in hot areas like cybersecurity and artificial intelligence. The U.S. Department of Labor projects that computer and IT jobs would grow 13 percent by 2026 from 2016, which is faster than the average of all occupations. Even though there’s demand for workers, educators … Continue reading “Want Better Tech Employees? Give Students More Data, Educators Say”
Google’s Madison Expansion to Triple Size of Local Offices
[Updated 1/31/19, 12:12 pm CT. See below.] Google is building out a new office near downtown Madison, WI, in an expansion project that will triple the size of its local outpost—giving it enough space for an estimated total of 200-plus local employees, Xconomy has learned. The Bay Area-based tech giant, part of parent company Alphabet … Continue reading “Google’s Madison Expansion to Triple Size of Local Offices”
Sunovion’s FDA Rejection Gives Acorda Parkinson’s Drug Breathing Room
The FDA has rejected a Sunovion Pharmaceuticals drug for Parkinson’s disease, delaying the company in its bid to compete with Acorda Therapeutics, which has a similar product that was recently approved for the market. Sunovion said late Wednesday that the FDA asked for more information to support the application for its drug, APL-130277. But the … Continue reading “Sunovion’s FDA Rejection Gives Acorda Parkinson’s Drug Breathing Room”
Q&A: PetDesk CEO Taylor Cavanah on Building a ‘Slower-Growth’ Startup
Taylor Cavanah, whose background is in physics, once caused a fellow scientist to do a spit take after learning Cavanah runs a software startup focused on pet care. Just as surprising is the tale of how Cavanah and co-founders Ken Tsui and Aaron Bannister built the San Diego, CA-based company, called PetDesk. It sells online … Continue reading “Q&A: PetDesk CEO Taylor Cavanah on Building a ‘Slower-Growth’ Startup”
Active Capital, Focused on Seed-Stage SaaS Startups, Raises $21.5M
San Antonio—Active Capital, a San Antonio, TX-based venture firm that invests in seed-stage software-as-a-service startups, has raised $21.5 million for its first investment fund. Active Capital has been investing for the last 18 months as it raised money from limited partners in mostly San Antonio, Austin, and Virginia. While Active’s investments cover a wide range … Continue reading “Active Capital, Focused on Seed-Stage SaaS Startups, Raises $21.5M”
Packers, Microsoft Play to Green Bay’s Strengths With TitletownTech
As Jill Enos tries to improve the environment for entrepreneurs in Green Bay, WI, she says she has studied how communities such as Boulder, CO, Kansas City, MO, and Wilmington, NC, have attempted to build startup hubs. The key? Don’t try to be something you’re not. That means, for example, focusing on sectors that have … Continue reading “Packers, Microsoft Play to Green Bay’s Strengths With TitletownTech”
With $100M MeiraGTx Deal, J&J Signals Bigger Move Into Gene Therapy
Gene therapy has come of age over the past few years. And Johnson & Johnson this morning gave its biggest signal yet that it wants in on the emerging field. J&J (NYSE: [[ticker:JNJ]]) has inked a deal with MeiraGTX (NASDAQ: [[ticker:MGTX]]) to grab rights to a group of experimental gene therapies for inherited forms of … Continue reading “With $100M MeiraGTx Deal, J&J Signals Bigger Move Into Gene Therapy”
Sentinel Healthcare Raises $2M For Hypertension-Monitoring Software
A Seattle-based startup, Sentinel Healthcare, is developing a platform combining software and wearable medical devices that it believes can help healthcare providers monitor patients who have high blood pressure—and perhaps one day predict their risk of heart attack or stroke. In the United States, about 75 million people, or one in three adults, have hypertension, … Continue reading “Sentinel Healthcare Raises $2M For Hypertension-Monitoring Software”