Goods Unite Us, a Madison, WI-based startup seeking to inform shoppers about the political leanings of corporations they purchase products and services from, says it closed a $500,000 seed funding round last week. MaSa Partners, Humble Rogue Ventures, and Mark Bakken, a Madison-based entrepreneur and investor, co-led the round, Goods Unite Us says. Launched in … Continue reading “Goods Unite Us Raises $500K to Track Corporate Political Leanings”
Pensa, AI-Enabled Drones Maker for Inventory Monitoring, Raises $5M
[Updated, 1/18/19, 1:10 pm CT] Austin—The grocery store shelf has yet to be plugged into the increasingly digital food supply chain. Instead, inventory is typically tallied by employees by hand in a slow and laborious process. “It’s one big black hole with groceries, not knowing what is exactly on the retail shelf and available for … Continue reading “Pensa, AI-Enabled Drones Maker for Inventory Monitoring, Raises $5M”
Kaleido Bio and Cirius Join an IPO Queue Stalled by Federal Shutdown
The partial government shutdown may have diminished staffing at the SEC, but it hasn’t dimmed the hopes of biotech firms hoping to go public. On Friday, Kaleido Biosciences and Cirius Therapeutics both filed paperwork for their respective initial public offerings with the securities regulator. While it’s operating with “very limited staff” due to the shutdown, … Continue reading “Kaleido Bio and Cirius Join an IPO Queue Stalled by Federal Shutdown”
E-Commerce Startups, Legacy Stores Grapple With Changing Retail Scene
The changing of the guard transforming retail is accelerating. Sears, the nation’s first “everything store,” is teetering toward bankruptcy after years of stagnation as industry leaders prepare to gather in New York at the National Retail Federation’s annual conference. Yet, new startups—aided with tech tools like artificial intelligence, chatbots, and the like—are trying to reinvent … Continue reading “E-Commerce Startups, Legacy Stores Grapple With Changing Retail Scene”
GeneCentric Promotes Michael Milburn to CEO & President
Four months after joining GeneCentric as chief scientific officer, Michael Milburn has been promoted to CEO and president of the Durham, NC, company. He succeeds founder, CEO, and president Myla Lai-Goldman, who is taking on the newly created role of executive chairperson of the board of directors. GeneCentric develops tests that match a cancer drug … Continue reading “GeneCentric Promotes Michael Milburn to CEO & President”
Tech Companies Share Shutdown Losses, With Little Chance of Back Pay
As federal agency employees miss their first paychecks today due to the partial government shutdown that began Dec. 22, federal contractors and their workers—including technology professionals—face a loss of income that they may never recover. Big technology companies such as Oracle (NYSE: [[ticker:ORCL]]), Microsoft (NASDAQ: [[ticker:MSFT]]), and Amazon (NASDAQ: [[ticker:AMZN]]), as well as smaller tech … Continue reading “Tech Companies Share Shutdown Losses, With Little Chance of Back Pay”
Report: After a Boffo 2018, VC Deals in Digital Health May Flatten
Investments in digital health startups totaled $8.1 billion in 2018, a record year that marked a 42 percent increase over 2017’s total, according to a report released this week by Rock Health. But the report’s authors say it’s unlikely that venture capital investments in digital health, an area that encompasses the use of software and … Continue reading “Report: After a Boffo 2018, VC Deals in Digital Health May Flatten”
WI Watchlist: Northwestern Mutual, Epic, Exact Sciences, Propeller
It’s time to catch up on notable headlines from Wisconsin’s innovation community: —Northwestern Mutual, the Milwaukee-based insurance and wealth management services giant, has hired Souheil Badran as chief innovation officer. Badran was previously president of the Americas region for Alipay, the online payments platform operated by Ant Financial, the Alibaba-owned fintech firm. Badran’s new role … Continue reading “WI Watchlist: Northwestern Mutual, Epic, Exact Sciences, Propeller”
Bio Roundup: #JPM19 Notes, Loxo Buyout, Black Diamond’s Cash & More
Diabetes drugs are Eli Lilly’s bread and butter, but the pharmaceutical giant hasn’t lost its appetite for cancer drugs. It grabbed hold of a few more this week by betting $8 billion on Loxo Oncology. Loxo (NASDAQ: [[ticker:LOXO]]) has made a name for itself by becoming one of just two companies ever to earn an … Continue reading “Bio Roundup: #JPM19 Notes, Loxo Buyout, Black Diamond’s Cash & More”
Notes from the JPM19 Vortex: Price Apocalypse, Celgene Fallout & More
[Editor’s note: Ben Fidler and Sarah de Crescenzo coauthored this report.] It is here, and then it is gone. But by the time everyone staggers to the airport or back home to sleep in their own beds, the annual few days of the J.P. Morgan Healthcare Conference and everything that mushrooms around it seem just … Continue reading “Notes from the JPM19 Vortex: Price Apocalypse, Celgene Fallout & More”
To Buy or Not to Buy: FunnelAI Studies Consumers’ Intent to Purchase
San Antonio—Sridhar Kamma is the kind of car enthusiast who would meet up with other devotees a couple times a month to talk about the merits of a BMW M3 versus a Porsche Boxster, a Mustang versus a Camaro. He’s the type to post questions in online forums and blogs about where he could find … Continue reading “To Buy or Not to Buy: FunnelAI Studies Consumers’ Intent to Purchase”
Boston Tech Watch: Boston Metal, TaxJar, ClimaCell, & WithMe Health
[Updated 11:38 AM. Paragraph added.] A bunch of startups started 2019 off on the right foot taking big checks cut by investors that continue the boom from 2018. Read on for more. —Weather forecast company ClimaCell says its high-resolution data is now available in 40 countries, including India. In October, the Boston-based startup raised $45 … Continue reading “Boston Tech Watch: Boston Metal, TaxJar, ClimaCell, & WithMe Health”
Online Tech Expands Cloud, Data Services with Neverfail Acquisition
Online Tech, the Ann Arbor, MI-based provider of cloud services, beefed up its capabilities last month when it acquired the infrastructure-as-a-service and data protection businesses of Neverfail, an IT company located in Austin, TX. The terms of the deal were not disclosed. Online Tech CEO Brad Cheedle says his company offers managed services around cloud … Continue reading “Online Tech Expands Cloud, Data Services with Neverfail Acquisition”
Former Roche Exec Pearl Huang Joins Cygnal Therapeutics as CEO
Cygnal Therapeutics has appointed Pearl Huang to serve as its CEO. Huang most recently worked at Roche, where she was senior vice president and global head of therapeutic modalities. Her experience also includes executive roles at GlaxoSmithKline (NYSE: [[ticker:GSK]]), Merck (NYSE: [[ticker:MRK]]), and BeiGene (NASDAQ: [[ticker:BGNE]]). Cambridge, MA-based Cygnal developed within the labs of venture … Continue reading “Former Roche Exec Pearl Huang Joins Cygnal Therapeutics as CEO”
Uncertainty Grows for Biotech as Government, FDA Shutdown Drags On
The partial government shutdown could soon become the longest shutdown in history, and biotech firms that have submitted regulatory filings are facing greater uncertainty about their future plans. More than 40 percent of FDA workers and thousands at the SEC are furloughed, and FDA Commissioner Scott Gottlieb is resorting to Twitter to post updates about … Continue reading “Uncertainty Grows for Biotech as Government, FDA Shutdown Drags On”
Victory Capital Acquires USAA Investment Arm, Moves to San Antonio
San Antonio—An Ohio investment firm that recently announced it would acquire an investment management arm of San Antonio-based USAA is now planning to move its headquarters to the Alamo City. Victory Capital Management (NASDAQ: [[ticker:VCTR]]) said Thursday it plans to open its San Antonio headquarters in mid-2019. The company is currently located in Brooklyn, OH, … Continue reading “Victory Capital Acquires USAA Investment Arm, Moves to San Antonio”
FAANG, Public Trust, Valuations, in 2019: The Read from Menlo Ventures
The market caps of some of the most successful tech titans reach as high as $1 trillion. Yet in 2018, perceptions about these dominant companies often reflected uneasiness and doubt—and for some, so did their stock performance. Maybe the mood shift has to do with the fact that the public and government leaders no longer … Continue reading “FAANG, Public Trust, Valuations, in 2019: The Read from Menlo Ventures”
Apollo 8: Holding the Mirror Up to Our Planet—Milestones of Innovation 16
The fiftieth anniversary of Apollo 8’s orbital visit to the moon underlines the importance of emotion and changes of perception in the history of innovation. Then and later, commentators said that the technological marvel reversed some of the gloom from the assassinations of Martin Luther King and Robert Kennedy, the Chicago police beating of dissidents … Continue reading “Apollo 8: Holding the Mirror Up to Our Planet—Milestones of Innovation 16”
Black Diamond Gets $85M for Cancer Drugs R&D and New Cambridge HQ
When Black Diamond Therapeutics emerged from stealth mode last month with $20 million in backing and a handful of preclinical cancer drugs, the company signaled that another financing was in the works for 2019. That day is here. Black Diamond announced late Wednesday that it has closed $85 million in Series B financing, which the … Continue reading “Black Diamond Gets $85M for Cancer Drugs R&D and New Cambridge HQ”
Big Deals, Life Sciences Push U.S. VC in 2018 to Dot-Com Boom Levels
[Updated 1/18/19, 3:27 pm. See below.] Venture capital investments rose in 2018 to levels not seen since the heady days of 2000, the last year U.S. startups collectively took in more than $100 billion. That’s according to PitchBook and the National Venture Capital Association’s Venture Monitor report, released this week, which tallied nearly 9,000 deals … Continue reading “Big Deals, Life Sciences Push U.S. VC in 2018 to Dot-Com Boom Levels”
Providence Ventures Raises $150M to Invest in Healthtech Startups
Providence Ventures, the venture investing arm of Renton, WA-based health system Providence St. Joseph Health, says it has raised a $150 million fund to invest in early- and mid-stage healthcare technology businesses. The venture firm says it will consider making investments across several areas of digital health, including healthcare information technology and Internet-connected medical devices. … Continue reading “Providence Ventures Raises $150M to Invest in Healthtech Startups”
Beta Bionics Secures $63M as AI-Driven “Pancreas” Heads to Key Tests
Beta Bionics, a startup developing a medical device that monitors and manages blood sugar levels in diabetes patients, has closed $63 million to back late-stage clinical tests of its AI-powered technology. The cash tops off a Series B round of funding announced last year. The Boston company, which counts diabetes drug giants Eli Lilly (NYSE: … Continue reading “Beta Bionics Secures $63M as AI-Driven “Pancreas” Heads to Key Tests”
With Room To Grow, Facebook Boston Moves Into Shiny, New Office
Facebook’s new Boston office—which is really in Cambridge, MA—is up and running, and there’s plenty of elbow room. The digs measure 130,000 square feet of open-style tech workspaces, something called micro-kitchens, a massive cafeteria, and cheeky-titled conference rooms. Floor-to-ceiling windows offer views of Cambridge, Boston’s Beacon Hill, the Zakim Bridge, and more, all from the … Continue reading “With Room To Grow, Facebook Boston Moves Into Shiny, New Office”
Smooth-Driving Startup ClearMotion Gets $115M for Production Push
[Corrected 1:02 pm ET. See below.] Auto technology startup ClearMotion says its active suspension system promising buttery-smooth rides on bumpy terrain is ready for prime time. The Boston-area business says it raised a $115 million Series D funding round led by Franklin Templeton Investments and it is working with a handful of automotive manufacturers to commercialize … Continue reading “Smooth-Driving Startup ClearMotion Gets $115M for Production Push”
Tetra Inks Deal with Shionogi to Support Fragile X, Alzheimer’s R&D
The lead drug of Tetra Discovery Partners is already in mid-stage clinical studies as a treatment for the rare Fragile X Syndrome. But the Grand Rapids, MI, biotech says its drug could also treat a disorder affecting far more people: Alzheimer’s disease. The startup has reached across the Pacific Ocean to land the cash for … Continue reading “Tetra Inks Deal with Shionogi to Support Fragile X, Alzheimer’s R&D”
The Power Combo of A.I. Devices with Cloudlets Comes with Cyber Risks
When we have a chance to view it from a distance, the year 2018 may be seen as a period when innovations in a number of technological fields came together to transform not only the future of computing, but also the very structure of the Internet. First, entrepreneurs vying to invent self-driving vehicles, virtual assistants, … Continue reading “The Power Combo of A.I. Devices with Cloudlets Comes with Cyber Risks”
Foundation Medicine Appoints Roche’s Cindy Perettie CEO
Foundation Medicine has appointed Cindy Perettie to serve as its CEO. Perettie comes to Cambridge, MA-based Foundation from Roche, where she was a senior vice president in global oncology product strategy for the company’s oncology unit. Perettie will start at Foundation on Feb. 4 succeeding Troy Cox, who has been CEO for the past two … Continue reading “Foundation Medicine Appoints Roche’s Cindy Perettie CEO”
Barlow Departs Parkinson’s Institute for CMO Post at E-Scape Bio
Carrolee Barlow has joined E-Scape Bio as chief medical officer. Barlow comes to the San Francisco biotech from the Parkinson’s Institute and Clinical Center, where she was CEO. Her experience also includes executive posts at Amicus Therapeutics (NASDAQ: [[ticker:FOLD]]) and BrainCells, a company she co-founded to develop treatments for neurological and psychiatric disease. E-Scape, which … Continue reading “Barlow Departs Parkinson’s Institute for CMO Post at E-Scape Bio”
Catalent Investing $200M to Expand in Wisconsin, Indiana
[Updated 1/8/19, 12:49 pm, with spokesperson comments.] Life sciences companies are keeping construction crews busy in Wisconsin’s state capital. The latest project comes from Somerset, NJ-based contract research and manufacturing firm Catalent (NYSE: [[ticker:CTLT]]), which said Monday it plans to invest $200 million over three years to expand its biologics manufacturing sites in Madison, WI, … Continue reading “Catalent Investing $200M to Expand in Wisconsin, Indiana”
Identity as Security Key: Akamai Buys Online Access Firm Janrain
It’s an online security concern perhaps best distilled in a popular 1993 comic from The New Yorker magazine. “On the Internet, nobody knows you’re a dog,” reads the comic that shows a drawing of one pooch atop an office chair in front of a computer, sharing the wisdom to a second of man’s best friend … Continue reading “Identity as Security Key: Akamai Buys Online Access Firm Janrain”
Motorola Solutions Pays $445M for VaaS, Which Tracks Car Locations
Fort Worth—Motorola Solutions (NYSE: [[ticker:MSI]]) is acquiring a Texas company that sells law enforcement offices and private businesses data it collects about license plates—which can reveal where a car is at a certain time, say—for $445 million in cash and equity. Through two subsidiaries, Fort Worth, TX-based VaaS International Holdings sells data and image analytics … Continue reading “Motorola Solutions Pays $445M for VaaS, Which Tracks Car Locations”
Alector Files for IPO to Fund Studies of Alzheimer’s, Dementia Drugs
Alector, a biotech company focusing on the immune system to treat degenerative brain disorders such as Alzheimer’s disease, has filed to go public to fund human tests of its experimental therapies. South San Francisco, CA-based Alector set a preliminary $150 million target for its IPO. The company has applied for a listing on the Nasdaq … Continue reading “Alector Files for IPO to Fund Studies of Alzheimer’s, Dementia Drugs”
Microsoft, Kroger Advance Grocery Tech to Fend Off Amazon
From the cloud on down to the floors of supermarkets, the rivalry between Microsoft and Amazon spans many sectors in software, gadgets, and increasingly, retail. The Seattle-area tech giants are battling—both with one another, and other competitors—to further digitize grocery shopping. The latest salvo came on Monday from Microsoft (NASDAQ: [[ticker:MSFT]]), which announced new details … Continue reading “Microsoft, Kroger Advance Grocery Tech to Fend Off Amazon”
Bio-JPM Roundup: Lilly Buys Loxo, Sage’s Stock Soars, ALS Cash & More
The flow of biotech news is particularly heavy today, and for good reason. The annual J.P. Morgan Healthcare Conference, one of the biggest gatherings for the biopharmaceutical industry, kicked off today in San Francisco, and many companies, whether they’re speaking at the event or not, use this time to get their news out. Xconomy is … Continue reading “Bio-JPM Roundup: Lilly Buys Loxo, Sage’s Stock Soars, ALS Cash & More”
Tidelift’s “Netflix for Open-Source Software” Model Gets $25M Boost
Tidelift, a startup trying to solve some of the open-source software industry’s problems around compensation and security, said it wrapped up a $25 million investment to gather more publicly maintained software projects under its umbrella. The Boston-based company, founded in 2017 by four Red Hat vets, said it is trying to recreate what Red Hat … Continue reading “Tidelift’s “Netflix for Open-Source Software” Model Gets $25M Boost”
Humatics Raises $28M Round to Advance Spatial Intelligence Platform
Humatics, the Waltham, MA-based startup working on microlocation technology for use in robots and autonomous vehicles, today announced that it has raised $28 million in a Series A1 round. The investment was led by Tenfore Holdings, with participation from Blackhorn Ventures, JCI Ventures (the venture arm of Johnson Controls), and all major investors from Humatics’ 2017 Series … Continue reading “Humatics Raises $28M Round to Advance Spatial Intelligence Platform”
Sage Hits Mark in Postpartum Depression Phase 3 Trial, Stock Surges
Sage Therapeutics could soon win FDA approval for its postpartum depression (PPD) drug brexanalone, a 60-hour infusion supervised by a medical professional that could become the first drug to the market for the condition. But another experimental Sage drug that works in a similar way—but is a pill that patients could potentially take at home—called … Continue reading “Sage Hits Mark in Postpartum Depression Phase 3 Trial, Stock Surges”
Eli Lilly Makes an $8B Cancer Genetics Bet with Loxo Acquisition
[Updated 1/7/19, 11 a.m. ET. See below.] Eli Lilly is set to acquire Loxo Oncology for approximately $8 billion—a deal that brings to the Indianapolis pharmaceutical giant a class of drugs that treat cancers with particular genetic signatures. Under the agreement announced Monday, Lilly (NYSE: [[ticker:LLY]]) will pay $235 cash per share of Loxo (NASDAQ: … Continue reading “Eli Lilly Makes an $8B Cancer Genetics Bet with Loxo Acquisition”
Frequency Nabs $42M for Hearing Loss Drugs, Clinical Data On The Way
Hearing loss drug development continues to attract investment, with Frequency Therapeutics announcing today that it has brought in $42 million in a Series B financing to help it move its treatment through clinical testing. Boston area-based Frequency is working on small molecule drugs that stimulate the growth of dormant stem cells in the body, and … Continue reading “Frequency Nabs $42M for Hearing Loss Drugs, Clinical Data On The Way”
Wayfair’s Steve Conine on the Amazon Threat, Adopting A.I. & More
The prospect of Amazon putting your business in its crosshairs is enough to give any executive some sleepless nights. Wayfair co-founder Steve Conine seems undaunted. Over the past 17 years, Conine and Wayfair co-founder and CEO Niraj Shah have built the Boston-based company (NYSE: [[ticker:W]]) into one of the largest online sellers of home goods, … Continue reading “Wayfair’s Steve Conine on the Amazon Threat, Adopting A.I. & More”
Tech Leaders Weigh In on Tim Berners-Lee’s “Contract for the Web”
Looking back over the past two years, it seems that public perceptions of tech companies have shifted, compared with the eager acceptance that often prevailed as innovations from these businesses transformed social interactions, transportation, and other aspects of life. In early 2017, a more critical mood began to take hold as Uber’s allegedly biased employment … Continue reading “Tech Leaders Weigh In on Tim Berners-Lee’s “Contract for the Web””
Vade Nutrition Swims Out of MSU and Into “Shark Tank,” Scores $700K
While attending Michigan State University in the mid-2010s, Joe Johnson earned a degree in finance, served as the captain of the school’s wrestling team, and met and married his wife Megan. In between, he found time to dream of starting his own company, but he never imagined he would one day count retired professional baseball … Continue reading “Vade Nutrition Swims Out of MSU and Into “Shark Tank,” Scores $700K”
Poseida Therapeutics Prepares for IPO to Advance CAR-T Treatments
Poseida Therapeutics, which is testing CAR-T cell therapies for blood-borne and solid tumor cancers, has laid the groundwork for an initial public offering. In documents filed with securities regulators Friday, the San Diego company set a preliminary IPO target of $115 million. The company has applied for a listing on the Nasdaq stock exchange under … Continue reading “Poseida Therapeutics Prepares for IPO to Advance CAR-T Treatments”
Seattle Startup Funding News: Immusoft, TurboPatent, VYRTY & More
Catch up on funding news in the Seattle area’s early-stage business ecosystem from late December and early January: —Immusoft, which is developing technology to genetically reprogram patients’ B cells outside the body to produce therapeutic proteins, said it raised $20 million from investors. The Seattle-based company said a mix of new investors and return backers … Continue reading “Seattle Startup Funding News: Immusoft, TurboPatent, VYRTY & More”
Allena Promotes Brenner to CEO, Margolin Becomes Board Chair
Louis Brenner, president and chief operating officer at Allena Pharmaceuticals (NASDAQ: [[ticker:ALNA]]), will become CEO starting Feb. 1. He will also join the Newton, MA, company’s board of directors. Allena co-founder and current CEO Alexey Margolin will shift to a new role as chairman of the board. Launched in 2011, Allena went on to raise … Continue reading “Allena Promotes Brenner to CEO, Margolin Becomes Board Chair”
Ultragenyx Exec Mansbach Joins 89bio as Chief Medical Officer
Hank Mansbach has been appointed chief medical officer of 89bio. Mansbach comes to the biotech startup from Ultragenyx (NASDAQ: [[ticker:RARE]]), where he was head of metabolic and neurology global clinical development. 89bio, which splits its operations between San Francisco and Herzliya, Israel, raised $60 million in financing last October to support its development of a … Continue reading “Ultragenyx Exec Mansbach Joins 89bio as Chief Medical Officer”
Genentech, Adaptive Bio Join Forces on Personalized Cancer Drugs R&D
Genentech is paying Adaptive Biotechnologies $300 million up front in a new partnership focused on developing cancer immunotherapies personalized to individual patients. Seattle-based Adaptive has technology that can analyze the immune system to find targets for cell therapies. Adaptive says that its screening technology enables it to discover T-cell receptors (TCRs) that can recognize and … Continue reading “Genentech, Adaptive Bio Join Forces on Personalized Cancer Drugs R&D”
Bio Roundup: $74B for Celgene, Two CAR-T Tales, Ready for SF & More
In 2018, my Exome colleagues and I published hundreds of stories about health, medicine, the biopharma industry, government policy, and more. You’ll find a few of our favorite stories in this review of some of the year’s best from across the Xconomy network. Topics ranged from the worries over CRISPR genome editing and Wild West … Continue reading “Bio Roundup: $74B for Celgene, Two CAR-T Tales, Ready for SF & More”
From Immigration to Taxes, Execs Talk Trump Effect on Innovation
When it comes to developing and promoting innovation, external factors beyond the control of company founders, investors, and other business leaders can also determine whether a startup succeeds or fails. In 2018, geopolitical events—in particular, President Donald Trump’s hard-line stances on trade and immigration, and the repeal of net neutrality rules—were top of mind for … Continue reading “From Immigration to Taxes, Execs Talk Trump Effect on Innovation”
WI Watchlist: Baird, Exact Sciences, Somna Therapeutics, & More
Happy New Year, readers. To kick off 2019, here are some recent headlines from Wisconsin’s innovation community: —The venture capital arm of Milwaukee-based Robert W. Baird & Co. is trying to raise $185 million for its fifth venture fund, according to a new SEC filing. The firm has yet to collect any of the money, … Continue reading “WI Watchlist: Baird, Exact Sciences, Somna Therapeutics, & More”