Corvus Pharmaceuticals (NASDAQ: [[ticker:CRVS]]) has appointed Mehrdad Mobasher to serve as vice president and chief medical officer. Mobasher comes to Burlingame, CA-based Corvus after eight years at Genentech, where he was most recently group medical director. Lead Corvus drug candidate CPI-444 is in early-stage clinical testing in various solid tumors. Corvus is developing that drug … Continue reading “Genentech’s Mobasher Joins Corvus as Chief Medical Officer”
Eisai Exec Voliotis Joins CureVac as Chief Development Officer
Dimitris Voliotis has been appointed chief development officer of German biotech CureVac. Voliotis, who was most recently senior vice president and head of global clinical development for Eisai, will work from CureVac’s Boston office. CureVac is developing messenger RNA drugs intended to deliver the genetic instructions that enable a patient’s cells to produce therapeutic proteins.
Investing, Real Estate, In-Game Ads: Sputnik ATX’s Third Accelerator
Austin—[Updated 3:48 p.m. See below.] Startup accelerator Sputnik ATX has a picked five startup companies for its newest program, the third Sputnik has run. That includes software makers and entrepreneurs focused on investing, commercial real estate, advertising for gaming, and building websites. Founded in 2017, Sputnik ATX runs two programs annually, selecting a group of five … Continue reading “Investing, Real Estate, In-Game Ads: Sputnik ATX’s Third Accelerator”
Aduro Biotech Slashes Staff 37%, Turns Focus to Lead Cancer Drugs
Aduro Biotech is laying off more than a third of its workforce in a restructuring intended to keep its focus on its cancer drugs now in clinical development. The corporate shakeup will cut the headcount of Aduro (NASDAQ: [[ticker:ADRO]]) by 37 percent, the company announced Wednesday. At the end of the third quarter of last … Continue reading “Aduro Biotech Slashes Staff 37%, Turns Focus to Lead Cancer Drugs”
Retailers Brace For Possible Economic Headwinds in 2019
Even as retailers struggle with a technology-disrupted business model and changing consumer desires, at least a generally positive overall economy and low unemployment rates seemed to keep shoppers’ wallets open. But a 2019 that started with stock market losses, a recently ended (but longest-ever) government shutdown, and other headwinds might now force consumers to pull … Continue reading “Retailers Brace For Possible Economic Headwinds in 2019”
All Eyes on Biogen as Roche Alzheimer’s Drug Flunks Final Test
Roche this morning added yet another failure to the ever-growing number of experimental Alzheimer’s disease drugs to crumble in late-stage human testing. The Swiss pharma and partner AC Immune (NASDAQ: [[ticker:ACIU]]) will stop two Phase 3 studies of their drug crenezumab in Alzheimer’s early after an interim analysis by a committee of investigators showed those … Continue reading “All Eyes on Biogen as Roche Alzheimer’s Drug Flunks Final Test”
Dewpoint Debuts with $60M to Target Protein Droplets Linked to Disease
An exciting new area of cell biology research that has emerged in only the last decade has already spawned a startup, which launches today with $60 million in Series A financing. Dewpoint Therapeutics seeks to develop drugs that target a kind of liquid droplet widely found inside cells. These droplets (think bubbles of oil in … Continue reading “Dewpoint Debuts with $60M to Target Protein Droplets Linked to Disease”
Wayne State, Microsoft Partner to Prepare Students for Tech Careers
Detroit’s Wayne State University has a new pilot underway with Microsoft to provide job-ready, employable talent for high-demand technical positions, including cloud computing, data science, cybersecurity, and A.I. Keith Whitfield, WSU’s provost, says the university has been in talks with Microsoft about various initiatives for the past 18 months. “What emerged was the idea that … Continue reading “Wayne State, Microsoft Partner to Prepare Students for Tech Careers”
WI Watchlist: Foxconn Jobs, Marquette Esports, Rockwell Deal & More
[Updated 1/30/19, 7:39 am CT. See below.] It’s time to catch up on some recent headlines from Wisconsin’s innovation community, including the launch of a varsity esports program at Marquette University and American Family Insurance’s vague plans for a downtown Milwaukee office that will invest in technology initiatives. Read on for details. —Foxconn Technology Group, … Continue reading “WI Watchlist: Foxconn Jobs, Marquette Esports, Rockwell Deal & More”
With Insurers Signaling Interest, Can Blockchain Disrupt Healthtech?
Late last week, IBM and several other large companies that serve the healthcare industry announced a collaboration aimed at determining whether, and how, blockchain technology could be used to improve patient care and lower costs for industry stakeholders. The announcement came about nine months after a separate conglomerate of healthcare businesses, including insurer and health … Continue reading “With Insurers Signaling Interest, Can Blockchain Disrupt Healthtech?”
Austin’s RigUp Adds $60M for Service That Finds Oil and Gas Workers
Austin—Energy industry startup RigUp has added $60 million in new funding for its service that aims to connect oilfield workers who are looking for a job with oil and gas companies. The financing is Austin, TX-based RigUp’s Series C funding round and was led by Founders Fund, the San Francisco venture firm started by PayPal … Continue reading “Austin’s RigUp Adds $60M for Service That Finds Oil and Gas Workers”
Companies at Geekdom Got 17% of San Antonio’s Venture Money in 2018
San Antonio—Companies housed at co-working space Geekdom raised $18.7 million in investment funding during 2018, an increase of more than 81 percent from the previous year, according to Geekdom. That accounts for almost 17 percent of the total venture funding raised by businesses in San Antonio last year, according to regional data compiled by PitchBook … Continue reading “Companies at Geekdom Got 17% of San Antonio’s Venture Money in 2018”
Equidate, Re-Named Forge Global, Boosts Series B to $85M
Equidate, one of the trading platforms that help employees sell their shares in pre-IPO unicorn companies, rolled out a new name today and announced a $35 million expansion of its $50 million funding round publicized in July. Re-branded as Forge Global, the five-year-old company plans to continue broadening the services it developed as many venture … Continue reading “Equidate, Re-Named Forge Global, Boosts Series B to $85M”
Billie, Subscription Shaving Products Service for Women, Raises $25M
Billie, a monthly subscription service for shaving and body care products for women, has raised $25 million. The New York-based startup said Tuesday that the new funding round, which is being led by Goldman Sachs Private Capital Investing group, brings its total investment to $35 million. Previous investors Silverton Partners, Female Founders Fund, and Lakehouse … Continue reading “Billie, Subscription Shaving Products Service for Women, Raises $25M”
Carbon Relay Exits Stealth to Help Data Centers Sip, Not Gulp, Power
Data centers’ deepening thirst for electricity has raised alarms over the intensity of carbon emissions resulting from many classes of technology, from cryptocurrencies to social media and cloud storage. A new Boston company is launching today marketing an A.I. tool to ratchet back power use at data centers. Carbon Relay says its technology is five … Continue reading “Carbon Relay Exits Stealth to Help Data Centers Sip, Not Gulp, Power”
Neurocrine Pays $165M to Bankroll Voyager’s Gene Therapy for Parkinson’s
[Updated, 11:40 a.m. ET, see below] The road to potential approval for Voyager Therapeutics’ experimental gene therapy for Parkinson’s disease got a bit longer, and more expensive, last year. So this morning the company cut a deal with Neurocrine Biosciences to bankroll the journey—and forfeit some of the financial upside for the product, known as … Continue reading “Neurocrine Pays $165M to Bankroll Voyager’s Gene Therapy for Parkinson’s”
Gilead, Gates Foundation Join Lyndra’s $55M Funding for Phase 2 Tests
Lyndra Therapeutics, a startup whose technology turns daily pills into extended-release formulations intended to last a week or longer, has raised $55 million to advance several of its drugs into mid-stage studies. The Series B round of funding was led by Polaris Partners, the firm that also led Lyndra’s Series A financing nearly two years … Continue reading “Gilead, Gates Foundation Join Lyndra’s $55M Funding for Phase 2 Tests”
Roundup: Erie Hack, MedHealth Summit, PlanetM, DTX Detroit, WMU
Now that the holidays are over—heck, January is almost over—Michigan’s innovation hubs are hard at work. Here is a selection of recent tech news from around the state: —Do you wonder what the deal is with driverless cars? Do you have questions as a consumer about safety, technology, or cost? The University of Michigan will … Continue reading “Roundup: Erie Hack, MedHealth Summit, PlanetM, DTX Detroit, WMU”
Moving HQ to Boston, AtScale CEO Chris Lynch Talks VCs, Tech Scene
There are more than a couple reasons why former Accomplice partner Chris Lynch is relocating the headquarters of his big data startup AtScale from San Mateo, CA, to Boston. He rattled them off last week, sitting in the newly wired-up but still empty first-floor office on Atlantic Avenue that Lynch plans to fill with sales, … Continue reading “Moving HQ to Boston, AtScale CEO Chris Lynch Talks VCs, Tech Scene”
Former Zavante Executive Tapped as Abide Therapeutics President
Abide Therapeutics, which is developing medicines to treat neurological diseases, has appointed Kevin Finney as its president and chief operating officer, a new role for the company. The company, which has about 40 employees, is co-located in San Diego, where the majority of its workers are based, and Princeton, NJ. Abide’s drug candidates, small-molecule inhibitors, … Continue reading “Former Zavante Executive Tapped as Abide Therapeutics President”
Former Sanofi Exec Koenig Joins Portola as Chief Commercial Officer
Portola Pharmaceuticals (NASDAQ: [[ticker:PTLA]]) has named Sheldon Koenig executive vice president and chief commercial officer. He comes to South San Francisco, CA-based Portola from Sanofi (NYSE: [[ticker:SNY]]), where he was head of the company’s cardiovascular franchise. His experience also includes leadership positions at Merck (NYSE: [[ticker:MRK]]). Portola received FDA approval last year for andexanet alfa … Continue reading “Former Sanofi Exec Koenig Joins Portola as Chief Commercial Officer”
Indalo Therapeutics Names Robert Jacks President & CEO
Indalo Therapeutics has appointed Robert Jacks to serve as president and CEO. Jacks was most recently president and chief financial officer of Symbiomix Therapeutics, which was acquired by Lupin in 2017. Indalo was formed by the 2016 merger of Antegrin Therapeutics and Cascadia Therapeutics. The Cambridge, MA-based company’s lead drug candidate, IDL-2965, is expected to … Continue reading “Indalo Therapeutics Names Robert Jacks President & CEO”
Healthcare Technology Bubble Concerns Are Likely Overblown
By nearly every measure, 2018 was a banner year for the venture capital industry, particularly in the healthcare technology sector. Over $130 billion of venture capital was invested across all sectors in the U.S., easily eclipsing the prior high-water mark in 2000 and nearly 4.8 times what was invested a decade ago. While certain sectors … Continue reading “Healthcare Technology Bubble Concerns Are Likely Overblown”
Norwest VC Eyes Waves of Change in A.I., Marketing, Cloud for 2019
Venture capital firms invest in potentially disruptive technologies with the hope of profit, then keep watch for further advances that could overtake their existing portfolio companies. All this is done while they guide startups through other external challenges such as fundraising droughts and overall market downturns. Scott Beechuk, a partner at Norwest Venture Partners, is … Continue reading “Norwest VC Eyes Waves of Change in A.I., Marketing, Cloud for 2019”
Sigma IQ Nabs $3.5M to Save Bean Counters Time on End-of-month Tasks
Businesses nearing the end of a financial reporting period roll up their sleeves for the task of reconciling the books, with accounting and finance teams responsible for making sure everything adds up the way it should. A Seattle software startup, Sigma IQ, believes it can make this process, which involves validating an organization’s financial accounts … Continue reading “Sigma IQ Nabs $3.5M to Save Bean Counters Time on End-of-month Tasks”
MEDC Leader Details Michigan’s Road to the Waymo AV Factory Deal
This week, Michigan’s economic development office notched a win when it announced that Waymo, Google’s mobility arm, had chosen the Great Lakes State as the location for a new manufacturing operation. According to a press release from the Michigan Economic Development Corporation (MEDC), Waymo will invest $13.6 million in a factory that will integrate Waymo’s … Continue reading “MEDC Leader Details Michigan’s Road to the Waymo AV Factory Deal”
TX Tech News: Techstars Austin, Essentium, Ontic, & More Startup Funds
Let’s catch up with the latest innovation news in Texas. —Essentium, maker of a 3-D printing system for manufacturers, has raised $22.2 million in a Series A funding round led by BASF Venture Capital. Materialise, Genesis Park, and previous seed round investors also participated in the deal, according to a press release. The funding will be … Continue reading “TX Tech News: Techstars Austin, Essentium, Ontic, & More Startup Funds”
America Should Welcome Immigrant Entrepreneurs
When I came to America in 1987, as a wide-eyed University of Texas grad student, I arrived with just a suitcase and a few hundred dollars — money that my mother, back in India, had scraped together by selling her beloved jewelry collection. Three decades later, I’m a successful biomedical researcher and serial entrepreneur with … Continue reading “America Should Welcome Immigrant Entrepreneurs”
Neurable, Vectorform Partner on Brain-Computer Interface Applications
Neurable, a brain-computer interface (BCI) startup spun out of the University of Michigan and now based in Boston, has found a new partner in a familiar place. Vectorform, headquartered in Royal Oak, MI, is a software development and digital design firm that is collaborating with Neurable on BCI products for its clients in the automotive, … Continue reading “Neurable, Vectorform Partner on Brain-Computer Interface Applications”
What $1M in Bay Area Startup Dollars Buys You in 12 Other Cities
The cost of doing business is always on the mind of startup executives. Salaries, rent, and other expenses like software licenses can often make or break a company. Much of the math comes down to how much money you can raise for your business, and startups often look to San Francisco and Silicon Valley to … Continue reading “What $1M in Bay Area Startup Dollars Buys You in 12 Other Cities”
Bio Roundup: Bosley’s Editas Exit, Bridge Bucks, CRISPR Crime & More
In a week of big personnel moves, none was more surprising than Editas Medicine CEO Katrine Bosley’s departure. After guiding the CRISPR-Cas9 genome-editing startup from scientific breakthrough toward the development of a potential cutting-edge medicine, slogging victoriously through a legendary patent fight, and reaching the cusp of an historic clinical trial, the well-traveled Bosley is … Continue reading “Bio Roundup: Bosley’s Editas Exit, Bridge Bucks, CRISPR Crime & More”
Boston Tech Watch: The Predictive Index, Catalant, ZoomInfo, Notarize
A work week shortened by the Martin Luther King Jr. holiday didn’t seem to slow new capital from venture firms and strategic investors from flowing into Boston technology businesses this week. Read on for more: —The Predictive Index, a workforce talent optimization technology company in Westwood, MA, has raised $50 million in growth-stage capital led … Continue reading “Boston Tech Watch: The Predictive Index, Catalant, ZoomInfo, Notarize”
San Diego’s DeskHub Snapped Up by Co-Working Company Cross Campus
Cross Campus, a shared office-space provider with five locations in the Los Angeles, CA, region, has snapped up DeskHub in the latest step in a plan to expand its West Coast presence. DeskHub, one of San Diego’s oldest co-working companies, has about 500 members across two locations: a 23,000-square-foot space in Little Italy and about … Continue reading “San Diego’s DeskHub Snapped Up by Co-Working Company Cross Campus”
Air Taxis Are on the Horizon with Boeing’s Test of Autonomous Plane
Many aviators use autopilot to control the trajectory of aircraft between takeoff and landing, but Boeing is among those in the industry seeking to advance autonomous flying technology even further. Boeing (NYSE: [[ticker:BA]]), which is headquartered in Chicago but has roots and extensive operations in the Seattle area, announced this week it conducted a successful … Continue reading “Air Taxis Are on the Horizon with Boeing’s Test of Autonomous Plane”
EBSCO Health Buys HealthDecision to Push Joint Decision-Making Tools
[Updated 1/25/19, 10:39 am CT, with comments from CEO.] Cardiologist Jon Keevil’s decision three years ago to hang up his stethoscope and focus full time on his digital health startup, HealthDecision, seems to have paid off. His startup was just acquired by EBSCO Health, a business of Ipswich, MA-based EBSCO Information Services, which provides libraries with … Continue reading “EBSCO Health Buys HealthDecision to Push Joint Decision-Making Tools”
Alexander Hardy Returns to Genentech as CEO
Roche’s Genentech unit has appointed Alexander Hardy to serve as CEO. He initially joined South San Francisco, CA-based Genentech in 2005 and worked there in several senior management roles until 2014 when he became head of Asia Pacific for Roche’s pharmaceuticals division. Hardy is currently Roche’s head of global product strategy. At Genentech, he will … Continue reading “Alexander Hardy Returns to Genentech as CEO”
With International Growth in Mind, LegalTech Firm Disco Nabs $83M
Austin—Legal tech startup Disco announced Thursday it has raised $83 million in new funding. The round was led by Toronto-based Georgian Partners, with participation from existing investors Bessemer Venture Partners, LiveOak Venture Partners, The Stephens Group, and venture-debt provider Comerica. Disco has now raised a total of $135 million, the company said. Disco sells subscription … Continue reading “With International Growth in Mind, LegalTech Firm Disco Nabs $83M”
Autonomic CEO Gavin Sherry on Mobility, China, and Data Privacy
In a tech culture that looks toward self-driving cars as the pinnacle of mobility innovation, we’re still debating whether fully autonomous vehicles are an imminent reality for our roads or an ever-receding Shangri-La. But looking back from the viewpoint of 2019, it’s worth considering whether the really pivotal, world-changing advances in transportation have not already … Continue reading “Autonomic CEO Gavin Sherry on Mobility, China, and Data Privacy”
Trust & Will Raises $2M to Advance Digitization of Estate Planning
[Updated 9:30 a.m., see below.] Roughly half of American adults have no legal document that details how their assets should be distributed when they die. The team at Trust & Will, a San Diego-based startup founded in October of 2017, is betting that a good chunk of those people would shell out some money to … Continue reading “Trust & Will Raises $2M to Advance Digitization of Estate Planning”
In Another Lung Cancer Setback, Bristol Yanks FDA App For Drug Combo
Bristol-Myers Squibb has lost yet more ground in its ongoing cancer immunotherapy battle with rival Merck. Along with its earnings, the pharma firm reported Thursday that it has pulled a key approval application to use a combo regimen of its already approved immunotherapies, nivolumab (Opdivo) and ipilimumab (Yervoy), in a portion of patients with newly … Continue reading “In Another Lung Cancer Setback, Bristol Yanks FDA App For Drug Combo”
Nominations for Xconomy Awards San Diego Close Soon
San Diego is chock-full of companies and people doing innovative work in life science and digital health. From the many unsung heroes toiling in labs countywide, to paradigm-shifting startup founders working on the next life-altering medicine or digital health tool, to executives with multiple exits under their belts, Xconomy will recognize the region’s best this … Continue reading “Nominations for Xconomy Awards San Diego Close Soon”
Amazon Deploys Autonomous Delivery Vehicles on WA County’s Sidewalks
Amazon may still have a long way to go before realizing its vision of a network of package-carrying drones, which it discussed five years ago on an episode of “60 Minutes.” But the online retailing and technology giant says it’s begun testing a similar—if a bit less futuristic—concept involving unmanned delivery vehicles rolling around a … Continue reading “Amazon Deploys Autonomous Delivery Vehicles on WA County’s Sidewalks”
Vertex Pharmaceuticals Exec Ian Smith Fired for “Personal Behavior”
Ian Smith, chief operating officer and interim chief financial officer of Vertex Pharmaceuticals, has been terminated from his positions following an investigation, the company announced Wednesday. Boston-based Vertex (NASDAQ: [[ticker:VRTX]]) said the personnel decision was made due to “personal behavior that violated Vertex’s Code of Conduct and values.” The company did not specify what prompted … Continue reading “Vertex Pharmaceuticals Exec Ian Smith Fired for “Personal Behavior””
Eli Lilly’s Oxtoby Jumps to Aimmune for Chief Commercial Officer Post
Aimmune Therapeutics (NASDAQ: [[ticker:AIMT]]) has appointed Andrew Oxtoby to serve as its chief commercial officer. Oxtoby comes to Brisbane, CA-based Aimmune after 16 years at Eli Lilly (NYSE: [[ticker:LLY]]), most recently as vice president of U.S. diabetes connected care and insulins. Aimmune is awaiting an FDA decision on its experimental peanut-allergy treatment, AR101.
Report: BMW, Daimler Form Mobility Services Biz Called … Jurbey?
If you needed more evidence that automobile companies are taking self-driving cars and other emerging mobility tech seriously, look no further than this week’s report that German automakers BMW and Daimler have formed a new mobility services company, which will operate out of a central Berlin building that Daimler formerly used to host Mercedes-Benz Fashion … Continue reading “Report: BMW, Daimler Form Mobility Services Biz Called … Jurbey?”
PR Software Maker TrendKite Sold to Cision for $225M Cash and Stock
Austin—TrendKite has sold to Cision, a Chicago-based public relations and marketing software company, in a $225 million in a cash-and-stock deal. Cision (NYSE: [[ticker:CISN]]) is paying $94 million in cash and offering Austin-based TrendKite shareholders 10.2 million Cision shares. The company’s stock dipped 2.6 percent to $12.16 each as of midday in New York after … Continue reading “PR Software Maker TrendKite Sold to Cision for $225M Cash and Stock”
DermaClip Ramps Up for U.S. Sales Push of Wound-Healing Device
Houston—Sutures or staples are the norm to close deep wounds that won’t otherwise heal on their own. But a Houston medtech company says it has a better way. DermaClip makes an eponymous device that the company says is a non-invasive way to foster wound healing. The DermaClip device is an adhesive strip placed across a … Continue reading “DermaClip Ramps Up for U.S. Sales Push of Wound-Healing Device”
Access HealthNet Snags $1M to Help Lower Employers’ Healthcare Costs
Access HealthNet, a startup developing software designed to help employers save money on their workers’ healthcare, has raised $1 million in debt funding from a dozen investors, according to a securities filing. Wauwatosa, WI-based Access HealthNet works with its business clients to help them find the lowest prices for common medical procedures. Specifically, the digital … Continue reading “Access HealthNet Snags $1M to Help Lower Employers’ Healthcare Costs”
BridgeBio Pharma Hauls in $299M for Genetic Disease Drugs R&D
Biotech startup creator BridgeBio Pharma has raised $299.2 million to support its work developing new drugs to treat rare, genetic diseases. Palo Alto, CA-based BridgeBio searches for promising drug research at universities, academic medical centers, and drug companies. After acquiring rights to a compound, BridgeBio forms a subsidiary company to develop it. Operating under a … Continue reading “BridgeBio Pharma Hauls in $299M for Genetic Disease Drugs R&D”
“At a Critical Juncture,” Desktop Metal Gets $160M From Koch Fund
[Updated 11:41 am ET. See below.] Desktop Metal, a metal 3D-printing company, has raised $160 million in a funding round led by the technology arm of Koch Industries, the multinational industrial conglomerate owned by billionaire philanthropists and right-leaning political donors Charles and David Koch. With the Series E funding from Koch Disruptive Technologies and other investors, … Continue reading ““At a Critical Juncture,” Desktop Metal Gets $160M From Koch Fund”