Today, technology and data science have combined to create artificial intelligence—data-driven algorithms that seemingly provide us with options for a fully personalized life. Gone are the days of Henry Ford’s “You can have any color so long as it’s black.” There are way more than three major network TV channels. We live in an era … Continue reading “2019 Will See Progress on Personalization’s Last Frontier: Education”
LunaDNA Health Data Platform to Merge with Genetic Alliance Database
LunaDNA, a startup that is offering individuals company stock in exchange for personal genomic and health information in a bid to build a database that could help advance scientific research, is merging its research platform with the Genetic Alliance’s Platform for Engaging Everyone Responsibly (PEER). The Genetic Alliance is a longstanding nonprofit organization based in … Continue reading “LunaDNA Health Data Platform to Merge with Genetic Alliance Database”
Bevi Lands $35M for Smarter Water Cooler That Gets to Know You
The water cooler will see you now. The beverage engineers at Boston-based startup Bevi are hard at work building a drink dispenser that can call up the finest details of your workplace drink order. How much lime flavoring is enough? How effervescent should the carbonation be? What mix of vitamins should be added? “We see … Continue reading “Bevi Lands $35M for Smarter Water Cooler That Gets to Know You”
Dosh Adds $40 Million in New Funding For Cash-Back Advertising App
Austin—[Updated and corrected, 2:36 p.m.] Dosh has added $40 million in new funding to further develop its mobile app that offers users cash back on certain purchases. The money is Dosh’s Series B round of financing, and includes $20 million in equity financing and $20 million in venture debt. Goodwater Capital and Western Technology Investment … Continue reading “Dosh Adds $40 Million in New Funding For Cash-Back Advertising App”
Plymouth Growth Partners Backs Fort Wayne’s Allied Payment Network
Plymouth Growth Partners has made another investment in an Indiana tech company. The Ann Arbor, MI-based venture capital fund has invested an undisclosed amount in Allied Payment Network, which is located in Fort Wayne, IN. Plymouth partner Jeff Barry says the deal was valued in the “multi-millions.” Barry will join Allied’s board as part of … Continue reading “Plymouth Growth Partners Backs Fort Wayne’s Allied Payment Network”
Editas CEO Katrine Bosley to Depart on Cusp of CRISPR Clinical Trial
Editas Medicine has the regulatory blessing to test its experimental gene-editing therapy in humans, and a $25 million check from its partner, Allergan, for hitting that milestone. But Editas will conduct the clinical trial without Katrine Bosley, the CRISPR biotech’s top executive for nearly the last five years. Bosley is leaving her post as president … Continue reading “Editas CEO Katrine Bosley to Depart on Cusp of CRISPR Clinical Trial”
Geekdom Co-Working Space Opens Six-Week Entrepreneurship School
San Antonio—Co-working space Geekdom is starting a short-term night program for people interested in learning about entrepreneurship. The school, to be called The District, is accepting 36 students for its first six-week session, which begins Feb. 4. The program will run three times a year, Geekdom says. Classes will take place Monday through Thursday from … Continue reading “Geekdom Co-Working Space Opens Six-Week Entrepreneurship School”
Insmed’s Paul Streck Joins Alder Bio as Chief Medical Officer
Alder BioPharmaceuticals (NASDAQ: [[ticker:ALDR]]) has appointed Paul Streck to serve as chief medical officer, a post he held at his former company, Insmed (NASDAQ: [[ticker:INSM]]). His experience also includes roles at GlaxoSmithKline (NYSE: [[ticker:GSK]]), Shire, and Amgen (NASDAQ: [[ticker:AMGN]]). Alder’s lead drug, eptinezumab, was developed to prevent migraine pain. The Bothell, WA-based company has said … Continue reading “Insmed’s Paul Streck Joins Alder Bio as Chief Medical Officer”
FDA Places Clinical Hold on Translate Bio’s mRNA Drug Study
Translate Bio’s plans to test a messenger RNA (mRNA) drug in patients who have a rare metabolic disorder have been halted by the FDA. Lexington, MA-based Translate Bio (NASDAQ: [[ticker:TBIO]]) said Tuesday that the regulator verbally notified it of “additional clinical and nonclinical questions” about the company’s submission. Until those questions are resolved, the FDA … Continue reading “FDA Places Clinical Hold on Translate Bio’s mRNA Drug Study”
A Healthier Lifestyle Helped Lead This Tech Exec to His Next Venture
Austin—Douglas Ferguson needed a change after his diagnosis of Type 1 diabetes at age 30. As a career software engineer and technology executive, Ferguson has been a part of the Austin, TX, tech scene since its first heyday in the 1990s. The diagnosis, which he received in the mid-2000s, was a product of that sleepless, … Continue reading “A Healthier Lifestyle Helped Lead This Tech Exec to His Next Venture”
Detroit Trends in 2018? More Traction, Diversity, and Collaboration
Editor’s note: This is part of a series of posts sharing thoughts from industry and technology leaders about 2018 trends. A few trends come to mind that continue to shape and define the startup ecosystem in Detroit: —Marketplaces continue to evolve and attract funding (initial and follow-on), and gain traction that has to be recognized and respected. … Continue reading “Detroit Trends in 2018? More Traction, Diversity, and Collaboration”
Zipwhip Gets $51.5M for Software That Lets Businesses Text Customers
Texting has grown well beyond person-to-person communications. To remind customers about upcoming appointments or notify diners their restaurant tables are ready, for example, text messages have in many businesses replaced phone calls and light-up buzzer systems. But text-based communications between businesses and their customers are becoming more of a two-way dialogue, with organizations increasingly allowing … Continue reading “Zipwhip Gets $51.5M for Software That Lets Businesses Text Customers”
Failed Clinical Trial Puts Eli Lilly Cancer Drug in Limbo
An Eli Lilly drug on the market for a rare form of cancer is now in limbo, after it failed a trial needed to retain the FDA approval the treatment, known as olaratumab (Lartruvo), won two years ago. Lilly (NYSE: [[ticker:LLY]]) said Friday that patients in a Phase 3 study with soft tissue sarcoma who … Continue reading “Failed Clinical Trial Puts Eli Lilly Cancer Drug in Limbo”
How 3 Detroit Founders Built Tech Startups Despite City’s Bankruptcy
On July 18th, 2013, the city of Detroit filed for Chapter 9 bankruptcy, becoming the largest city in American history to do so. Just four years earlier, Chrysler and General Motors—automobile companies that were long a staple of the Detroit economy—had filed for Chapter 11 bankruptcy. “You hear stories about the Great Depression in the … Continue reading “How 3 Detroit Founders Built Tech Startups Despite City’s Bankruptcy”
Outdoorsy’s Big Haul & Other Startup Fundraising in TX Tech News
Let’s catch up with the latest innovation news in Texas. —TeVido, an Austin biotech, has raised $1.2 million to help fund a new facility in which the company can use a patient’s own cells to create personalized pigment cell grafts to treat vitiligo, a loss of skin color that affects about 1 percent of the … Continue reading “Outdoorsy’s Big Haul & Other Startup Fundraising in TX Tech News”
Despite Buyout, Celgene Dealmaking Rolls On With Kyn, Obsidian Tie-Ups
[Updated 12:35pm ET with comments from Michael Gilman, Obsidian CEO, see below.] Bristol-Myers Squibb’s huge proposed buyout of Celgene earlier this month has left many in biotech circles concerned that the Summit, NJ, drugmaker’s days of creative, aggressive dealmaking with smaller companies might be over. So far, however, that isn’t the case. Two Boston-area biotechs, … Continue reading “Despite Buyout, Celgene Dealmaking Rolls On With Kyn, Obsidian Tie-Ups”
Michigan Mobility Institute Aims to Expand AV Talent, Ecosystem
A new tech education effort is forming in Detroit—created by Fontinalis Partners co-founder Chris Thomas—that focuses on teaching adult students the skills they need to compete for the increasingly large number of open jobs in the mobility industry. Called the Detroit Mobility Lab, it has two goals: to build the mobility talent infrastructure necessary to … Continue reading “Michigan Mobility Institute Aims to Expand AV Talent, Ecosystem”
Bio Roundup: Aimmune Drama, Shutdown Blues, Perlmutter Talks Cancer
The partial government shutdown, now the longest in U.S. history, began to take a bite out of biotech this week, served with a hot side dish of confusion. On Tuesday, Aimmune Therapeutics (NASDAQ: [[ticker:AIMT]]) said the shutdown would delay the review—and potential approval—of its experimental treatment for peanut allergy. Aimmune said it received a letter … Continue reading “Bio Roundup: Aimmune Drama, Shutdown Blues, Perlmutter Talks Cancer”
WI Watchlist: Fiserv, Promega, Arrowhead, Basic-code, EnSync & More
The biggest news of the week from Wisconsin’s high-tech sectors was by far Brookfield-based Fiserv’s (NASDAQ: [[ticker:FISV]]) massive $22 billion deal to acquire First Data (NYSE: [[ticker:FDC]]). Meanwhile, here are some headlines and happenings you might’ve missed: —Basic-code raised nearly $250,000 in equity funding, according to an SEC filing. The Brookfield, WI-based startup, which offers … Continue reading “WI Watchlist: Fiserv, Promega, Arrowhead, Basic-code, EnSync & More”
Boston Tech Watch: Nantucket, Lionbridge, Nano-C, Barac & Quick Base
Nantucket entrepreneurs welcome, and acquisitions abound. There are also new owners, new offices and new money in the bank for Boston-area technology companies this week. Read on for the details. —Sense, the Cambridge, MA-based home electricity management technology startup, has partnered with Swiss utility technology company Landis+Gyr to put Sense’s technology in Landis’ Internet-of-things platform, … Continue reading “Boston Tech Watch: Nantucket, Lionbridge, Nano-C, Barac & Quick Base”
Microsoft Pledges $500M for Housing in Growth-Strained Seattle
Microsoft announced a new, $500 million initiative late Wednesday that’s aimed at making housing more affordable and available to low- and middle-income residents of the Seattle area. The Redmond, WA-based software giant pointed to data indicating that in this decade, population increases in the metropolitan area that Microsoft (NASDAQ: [[ticker:MSFT]]) calls home have outpaced growth … Continue reading “Microsoft Pledges $500M for Housing in Growth-Strained Seattle”
Educational Play Kit Company Osmo Sold to India’s Edtech Firm Byju’s for $120M
Byju’s, an edtech company based in India that claims a $3.6 billion valuation based on its sales success there, announced it has acquired Palo Alto, CA-based learning-through-play firm Osmo for $120 million. Named after the teacher Byju Raveendran, who founded the company in 2011, Byju’s is making its first acquisition in the United States to … Continue reading “Educational Play Kit Company Osmo Sold to India’s Edtech Firm Byju’s for $120M”
Terns Pharma Names Ex-Gilead Exec Erin Quirk Chief Medical Officer
Terns Pharmaceuticals has appointed Erin Quirk to serve as its chief medical officer. Quirk most recently worked at Gilead Sciences (NASDAQ: [[ticker:GILD]]), where she was vice president, clinical research. Terns, which has operations in San Mateo, CA, and Shanghai, China, raised $30 million in financing last year to support development of drugs for the fatty … Continue reading “Terns Pharma Names Ex-Gilead Exec Erin Quirk Chief Medical Officer”
Paul Sekhri Joins eGenesis as President & CEO
Biotech company eGenesis has appointed Paul Sekhri to serve as president and CEO, a position he held at his previous company, Lycera. Sekhri’s experience also includes posts at Teva Pharmaceutical Industries (NYSE: [[ticker:TEVA]]), Cerimon Pharmaceuticals, and Ariad Pharmaceuticals. Sekhri succeeds eGenesis interim CEO Julie Sunderland, who will join the Cambridge, MA, company’s board of directors. … Continue reading “Paul Sekhri Joins eGenesis as President & CEO”
FDA’s Gottlieb Adds Confusion to Aimmune’s Claims of Shutdown Delay
The first biotech company to cite the partial government shutdown as a reason for serious delay was Aimmune Therapeutics (NASDAQ: [[ticker:AIMT]]), as Xconomy reported Tuesday. The announcement, however, soon raised more questions than answers. Aimmune reported in a regulatory filing Tuesday that the FDA would not start reviewing its peanut-allergy treatment, AR101, because of the … Continue reading “FDA’s Gottlieb Adds Confusion to Aimmune’s Claims of Shutdown Delay”
ScaleFactor Adds $30M from Bessemer to Boost Accounting Software
Austin—ScaleFactor is adding a $30 million round of funding led by Bessemer Venture Partners to make new hires and add more features to its software that automates accounting and provides financial insights. The Austin, TX-based company targets small- and medium-sized business with its software, noting that there are 19 million in the U.S. with fewer … Continue reading “ScaleFactor Adds $30M from Bessemer to Boost Accounting Software”
What’s Your Emergency? Law Enforcement’s Increasing Interest in Tech
Fort Worth, TX—Data analytics and visual search technologies are increasingly being used by law enforcement agencies, growth that has captured the attention of tech giant Motorola. The Chicago-based tech company, which has long sold narrow-band radios to law enforcement, has been building its arsenal of software and camera technologies through a series of acquisitions. The … Continue reading “What’s Your Emergency? Law Enforcement’s Increasing Interest in Tech”
CommonGrounds Raises $100M to Open More New Flexible Office Spaces
Billions of dollars have already flowed to the purveyors of shared workspaces, and the investment spigot isn’t turning off yet. CommonGrounds Workspace, a San Diego, CA-based company that operates flexible office spaces in California and Colorado today, announced Wednesday that it had raised $100 million in a Series A financing to expand its lineup to … Continue reading “CommonGrounds Raises $100M to Open More New Flexible Office Spaces”
With New Cash and Facilities, Phoenix Transitions Out Of Startup Mode
It’s often not obvious precisely when an early-stage business reaches the point where it outgrows the “startup” label. Case in point: Madison, WI-based Phoenix, which sells neutron generators and provides image-reading services to organizations in industries ranging from healthcare to renewable energy to aerospace and defense. “From a cultural standpoint, everybody’s starting to feel the … Continue reading “With New Cash and Facilities, Phoenix Transitions Out Of Startup Mode”
FDA Panel Backs Amgen Bone Drug, Says Benefits Outweigh Heart Risks
[Updated 1/17/19, 8:50 a.m. See below.] An experimental Amgen osteoporosis drug that had sparked concern about cardiovascular side effects has won the backing of an FDA advisory panel. A total of 15 panelists on Thursday voted that the benefits of the drug, romosozumab (Evenity), outweigh its risks, and are enough to support its approval. But … Continue reading “FDA Panel Backs Amgen Bone Drug, Says Benefits Outweigh Heart Risks”
Austin’s Media Tech Incubator Readies for First Group of Startups
Austin—An incubator for startups that are developing a media product is in its final week of accepting applications. Called Collective, the incubator is focused on startups that are working on innovating the media space, which includes augmented and virtual reality, publishing, news, public relations, video games, music, sound, film, marketing, advertising, radio, and podcasting, the … Continue reading “Austin’s Media Tech Incubator Readies for First Group of Startups”
Fiserv to Buy First Data for $22B as Fintech Consolidation Continues
The mega-deals keep on coming. Today, it’s a massive acquisition in financial technology: Fiserv has struck an agreement to acquire First Data in an all-stock transaction valued at $22 billion. The deal has been approved by both companies’ boards but still needs to be accepted by shareholders and regulators. Assuming it closes as expected later … Continue reading “Fiserv to Buy First Data for $22B as Fintech Consolidation Continues”
Auto Show Notes: Techstars Mobility Rebrands, Expands Mission
Detroit’s North American International Auto Show was the place for a plethora of mobility-related announcements this week, including some significant news from the Boulder, CO-based Techstars accelerator program. Techstars launched an incubator for mobility startups in the Motor City four years ago, and the program has flourished since. In recognition of that success as well … Continue reading “Auto Show Notes: Techstars Mobility Rebrands, Expands Mission”
ScoutRFP Scores $33M to Compete in Supplier Management Sector
ScoutRFP, whose software is designed to help businesses streamline the process of ordering goods from suppliers, announced that it raised $33 million in a Series C fundraising round led by Scale Venture Partners. San Francisco-based Scout, part of a tech sector dubbed supplier relations management, or SRM, aims to free businesses from painstaking traditional methods … Continue reading “ScoutRFP Scores $33M to Compete in Supplier Management Sector”
NAIAS: Ford’s Foray into Microtransit Proved Valuable, Klevorn Says
Detroit’s North American International Auto Show (NAIAS) pulled back the curtains for a media preview Monday and Tuesday before it opens its doors to the public next week. Coming on the heels of CES—the annual technology conference in Las Vegas that has increasingly become the preferred venue for automakers to showcase their latest technology developments—the … Continue reading “NAIAS: Ford’s Foray into Microtransit Proved Valuable, Klevorn Says”
After 33 Exits in 5 Years, WI Seeks “More and Bigger” Startup Deals
[Updated 1/22/19, 3:10 pm CT. See below.] When Propeller Health’s founders initially tried to raise funding for their new healthcare technology venture, many of the investors they spoke with were hesitant to take the risk. It was the early part of this decade, and Propeller was navigating the FDA’s regulatory process for medical devices. The … Continue reading “After 33 Exits in 5 Years, WI Seeks “More and Bigger” Startup Deals”
Merck And The Future of Immuno-Oncology: A Chat With Roger Perlmutter
Cancer immunotherapy is, in a word, tantalizing. It might save the life of someone at death’s door and keep the cancer at bay for years. Or it might not work at all. There’s no telling what a patient will experience. “There’s a real poverty of understanding of how the machine that is us works,” says … Continue reading “Merck And The Future of Immuno-Oncology: A Chat With Roger Perlmutter”
AlwaysAI Adds $4M to Bring Deep Learning to Embedded ‘Edge’ Devices
Many of our devices, from wearables to medical instruments to drones, can capture reams of images. Using algorithms to analyze those images on the devices, in turn, generally takes loads of computing power and energy—sometimes more than is feasible. AlwaysAI says it is getting ready to sell its software for enterprise developers looking to make … Continue reading “AlwaysAI Adds $4M to Bring Deep Learning to Embedded ‘Edge’ Devices”
Five Prime’s Shakeup Cuts Staff 20%, Keeps Focus on Clinical Programs
Five Prime Therapeutics is cutting its headcount by 20 percent, part of a cash-saving effort the company is making to focus on the cancer drugs it has already advanced into clinical trials. South San Francisco, CA-based Five Prime (NASDAQ: [[ticker:FPRX]]) said Tuesday that the corporate restructuring will reduce operating expenses by $10 million in 2019 … Continue reading “Five Prime’s Shakeup Cuts Staff 20%, Keeps Focus on Clinical Programs”
Walgreens Prepares for High-Tech Future with Microsoft Partnership
Microsoft is making a “wal-to-wal” bet that retailers can harness the Seattle-area tech giant’s products and services to upgrade the brick-and-mortar experience for consumers and patients. About six months after it struck a partnership with Walmart (NYSE: [[ticker:WMT]]), Microsoft on Tuesday announced a seven-year agreement with Walgreens (NASDAQ: [[ticker:WBA]]), the specific financial terms of which … Continue reading “Walgreens Prepares for High-Tech Future with Microsoft Partnership”
Roche Veteran Khwaja Named Voyager Therapeutics Chief Medical Officer
Omar Khwaja has been appointed chief medical officer of Voyager Therapeutics (NASDAQ: [[ticker:VYGR]]). Khwaja comes to the Cambridge, MA-based gene therapy developer from Roche, where he was most recently global head of neuroscience translational medicine and global head of rare diseases. Voyager’s lead drug, VY-AADC, is in mid-stage studies testing it in advanced Parkinson’s disease.
Seres Promotes Shaff to CEO, Pomerantz Continues as Chairman
Eric Shaff, chief operating and financial officer of Seres Therapeutics (NASDAQ: [[ticker:MCRB]]), has been promoted to president and CEO. Shaff is also joining the board of directors of the Cambridge, MA, microbiome drugs developer. Shaff joined Seres as chief financial officer in 2014 and last year took on the additional role of chief operating officer. … Continue reading “Seres Promotes Shaff to CEO, Pomerantz Continues as Chairman”
Pivot to Software: Drone Maker CyPhy Rebrands, Seeks Airborne A.I.
The hardware business isn’t cutting it for CyPhy Works, a maker of tethered drones for everything from military uses to disaster response and the oil and gas industry. Today, the drone company announced a pivot to software—and a rebranding to Aria Insights. (The name comes from the word for a group of canaries.) The investors, … Continue reading “Pivot to Software: Drone Maker CyPhy Rebrands, Seeks Airborne A.I.”
Smartsheet Buys TernPro, Seattle Developer of Collaboration Tools
Smartsheet, a Bellevue, WA-based company that develops collaborative software allowing users to track projects and manage company processes, announced Tuesday it has acquired Seattle-based TernPro, whose flagship product Slope lets customers mark up documents, images, videos, and other media before releasing them to a wider audience. Financial terms of the deal were not disclosed. Smartsheet’s … Continue reading “Smartsheet Buys TernPro, Seattle Developer of Collaboration Tools”
A VC’s Take: Global Volatility Hurts U.S. Venture Ecosystem
As Xconomy’s editors looked back at the year just passed, we asked technology leaders to comment on the trends they’d observed in 2018, and the developments they expected in 2019. Some leaders responded with their views on the business impact of the Trump era, pointing to specific policy positions such as tax code revisions, curbs … Continue reading “A VC’s Take: Global Volatility Hurts U.S. Venture Ecosystem”
Government Shutdown Hits Biotech as FDA Punts Review of Aimmune Drug
[Updated, 11:25 am ET, see below] The partial U.S. government shutdown has just had its first tangible effects on the potential approval of a new drug: The FDA review of a peanut allergy treatment from Aimmune Therapeutics (NASDAQ: [[ticker:AIMT]]) has been delayed. In a regulatory filing posted late Wednesday, Aimmune, of Brisbane, CA, said that … Continue reading “Government Shutdown Hits Biotech as FDA Punts Review of Aimmune Drug”
IBM Vets Launch Sonrai Security, Eyeing Multi-Cloud “Complexity”
Businesses racing faster and faster to put their data and applications into multiple cloud services will soon have to figure out how to keep an eye on it all. Start thinking about the hundreds of users, the dozens of accounts, and the handful of different cloud services that don’t always speak the same language, and … Continue reading “IBM Vets Launch Sonrai Security, Eyeing Multi-Cloud “Complexity””
Austin’s Localeur, Millennial-Focused Travel Startup, Hits 100 Cities
Austin—Localeur, a travel recommendation startup, is celebrating its (nearly) fifth anniversary by announcing its 100th city. The Austin startup focuses on recruiting a group of local residents who can provide insider information on each travel destination. The “localeurs”—a portmanteau of local and connoisseur—are millennials catering to the tastes of their own. Localeur made its debut … Continue reading “Austin’s Localeur, Millennial-Focused Travel Startup, Hits 100 Cities”
Teradata Names Oliver Ratzesberger as New CEO
Teradata on Monday announced that Oliver Ratzesberger, its chief operating officer, has been tapped as president and CEO Victor Lund’s successor. The company, which last year relocated its headquarters from Dayton, OH, to San Diego, is in the midst of a concerted effort to transform itself from a legacy data storage provider to an innovative, … Continue reading “Teradata Names Oliver Ratzesberger as New CEO”
San Diego Life Science Companies See Stock Bumps, Slips in JPM Wake
The massive life sciences meeting now known as the J.P. Morgan Healthcare Conference started out as a clubby get-together hosted by investment bank Hambrecht & Quist. Back in the days of H&Q, bankers and entrepreneurs flocked to San Francisco to get information about biotech companies that was otherwise hard to come by. Investors, thrilled—or spooked—by … Continue reading “San Diego Life Science Companies See Stock Bumps, Slips in JPM Wake”