There was a new development today in the high-stakes race to use pills, not injectable biologic drugs, to treat anemia. San Francisco, CA-based FibroGen and partners AstraZeneca and Astellas Pharma have reported that their experimental drug, roxadustat, has succeeded in five more Phase 3 trials, which bolster its chances of approvals in the U.S. and … Continue reading “With New Results, FibroGen’s Anemia Pill Inches Closer to FDA Review”
Relay Raises $400M to Kick Protein Motion Drug R&D into High Gear
The line dividing biotechnology and high tech is blurring as drug companies find new ways to apply computer advances in the hunt for new drugs. Relay Therapeutics uses these techniques to better understand a protein’s role in disease and develop a drug to address it. Cancer is Relay’s first target. The Cambridge, MA, biotech is … Continue reading “Relay Raises $400M to Kick Protein Motion Drug R&D into High Gear”
$500M and 1.2B Cars: Cambridge Mobile Telematics Talks SoftBank Deal
Ask Cambridge Mobile Telematics cofounder Hari Balakrishnan about the $500 million his business raised from SoftBank’s Vision Fund and he’ll bring up two bigger numbers: 1.2 billion and 875 million. The first is an estimate of the number of vehicles globally. The second is the number of insurance policies on those vehicles. Then there’s a … Continue reading “$500M and 1.2B Cars: Cambridge Mobile Telematics Talks SoftBank Deal”
RiverVest Venture Closes $184M Fund for Backing Healthcare Ventures
RiverVest Venture Partners, a St. Louis, MO-based venture capital firm with additional offices in San Diego, CA, and Cleveland, OH, has raised $184.4 million for its fourth fund dedicated to investing in healthcare companies. Since its launch, RiverVest has invested in 47 companies working to develop new drugs and medical devices. Nearly half of the … Continue reading “RiverVest Venture Closes $184M Fund for Backing Healthcare Ventures”
From Google to Gates: Malta Targets Power Storage With Molten Salt
A new and unconventional power storage startup is preaching the gospel of salt and antifreeze as the long-sought answer to how to bottle up renewable electricity from intermittent solar and wind projects. Malta, based in Cambridge, MA, announced today it has graduated from Alphabet’s X, the Moonshot Factory—where it was known as Project Malta—and is … Continue reading “From Google to Gates: Malta Targets Power Storage With Molten Salt”
Remote Exercise Startup FitOn Grabs $4.6M to Ride Home Workout Wave
More Americans work from home than ever before, and there’s a parallel trend of people increasingly ditching trips to the gym to instead work out at home. Companies like Peloton and FitOn, a new startup that recently raised a round of venture funding to support its growth, are using software to host virtual classes during … Continue reading “Remote Exercise Startup FitOn Grabs $4.6M to Ride Home Workout Wave”
Gilead, Scholar Rock Sign $80M Up Front Deal for Fibrosis Drugs
Drugmakers are increasingly turning their attention toward fibrosis, the excessive growth of connective tissue that can lead to scarring and dysfunction of multiple organs including the lungs, liver and kidneys. In the latest deal centered on this disorder, Gilead Sciences (NASDAQ: [[ticker:GILD]]) will pay Scholar Rock of Cambridge, MA (NASDAQ: [[ticker:SRRK]]) $80 million up front … Continue reading “Gilead, Scholar Rock Sign $80M Up Front Deal for Fibrosis Drugs”
SoftBank Vision Fund Pours $500M Into Cambridge Mobile Telematics
Last month, Xconomy asked tech CEOs what $100 million in venture capital can buy. How about $500 million? Cambridge Mobile Telematics said Wednesday morning it has pulled in half a billion dollars in an investment from—you guessed it—the SoftBank Vision Fund. That’s Japan-based SoftBank Group’s reportedly $100 billion fund that has made waves in the … Continue reading “SoftBank Vision Fund Pours $500M Into Cambridge Mobile Telematics”
Pfizer, GSK to Merge Consumer Health Units, Focus on Prescription Drugs
Two of the world’s top drugmakers want to focus on making prescription drugs. Pfizer and GlaxoSmithKline have agreed to merge their consumer health businesses and spin them off into a joint venture, a move that will both create a new consumer healthcare giant and increase the pressure on each company to churn out innovative medicines. … Continue reading “Pfizer, GSK to Merge Consumer Health Units, Focus on Prescription Drugs”
Can Pay-For-Results Drug Pricing Work? A Q&A With Michael Sherman
[Editor’s note: This is part of a series of posts sharing thoughts from industry and technology leaders about 2018 trends.] It’s been almost a year since Harvard Pilgrim Health Care signed what’s known as a “value-based agreement” with Spark Therapeutics to cover Luxturna, Spark’s $850,000 gene therapy for a form of vision loss. In doing so, Harvard … Continue reading “Can Pay-For-Results Drug Pricing Work? A Q&A With Michael Sherman”
Graphcore Scores $200M to Scale Up A.I. Chip Production
One of the leading contenders in the A.I. chip race, Graphcore, announced Tuesday it pulled down $200 million in a Series D fundraising round that set its valuation at $1.7 billion. The Bristol, U.K.-based startup, founded in 2016, has now secured a total of more than $300 million in financing from venture capital firms and … Continue reading “Graphcore Scores $200M to Scale Up A.I. Chip Production”
Safety Signal Prompts Surface Oncology to Scale Down Lead Program
Signs of a safety problem have Surface Oncology cutting back clinical trial plans for its lead drug only eight months after the company completed a $108 million IPO to finance clinical tests of the drug. The discovery of potential toxic effects of the drug, SRF231, in the dose-escalation portion of a Phase 1 study has … Continue reading “Safety Signal Prompts Surface Oncology to Scale Down Lead Program”
California Life Sciences Association Taps Mike Guerra as New CEO
California Life Sciences Association, the San Diego-based trade association, on Tuesday announced that Mike Guerra will succeed its founding leader Sara Radcliffe as president and CEO effective Jan. 7. Radcliffe is leaving to pursue new opportunities, the association said. Guerra was most recently vice president of the Americas at Avidity Science, which makes water purification … Continue reading “California Life Sciences Association Taps Mike Guerra as New CEO”
Waldo Adds $4 Million for Software That Finds Your Face in the Crowd
Austin—Waldo Photos, a startup with facial recognition software that helps its users find photos of themselves and family members, has raised $4 million in a new round of financing led by Lewis & Clark Ventures. Waldo plans to use the money to add to its engineering team and sales force, as the startup is expanding … Continue reading “Waldo Adds $4 Million for Software That Finds Your Face in the Crowd”
Cisco to Pay $660M for Luxtera, Maker of Advanced Data Center Chips
Cisco has agreed to pay $660 million for Luxtera, a Caltech spinout that makes optical chips for data centers. The semiconductor company, founded in 2001, is based in Carlsbad, CA, a San Diego suburb. Cisco, the San Jose, CA-based tech giant (NASDAQ: [[ticker:CSCO]]), said Tuesday that Luxtera’s advanced chips will help it offer its customers … Continue reading “Cisco to Pay $660M for Luxtera, Maker of Advanced Data Center Chips”
Gener8tor’s Fellowship.art Brings Startup Accelerator Model to Art
You could make the case that the lines that separate an artist from an entrepreneur are virtually nonexistent. Just like startup founders or other business owners, artists are passion-driven individuals. They are making a product and seeking to sell it in a marketplace. They’re creating something tangible, pushing the boundaries, and often assuming great risks … Continue reading “Gener8tor’s Fellowship.art Brings Startup Accelerator Model to Art”
David Lebwohl Leaves Novartis for Chief Medical Post at Semma
Semma Therapeutics has appointed David Lebwohl to serve as chief medical officer. Lebwohl comes to the Cambridge, MA, regenerative medicine company from Novartis (NYSE: [[ticker:NVS]]), where he was senior vice president and franchise global program head of the CAR-T team. In other moves, Semma named David DiGiusto its chief technology officer. DiGiusto comes to Semma … Continue reading “David Lebwohl Leaves Novartis for Chief Medical Post at Semma”
NGM Bio’s Jeff Jonker Joins Ambys Medicines as President & CEO
Jeff Jonker has been appointed president and CEO of Ambys Medicines. Jonker comes to the Redwood City, CA-based biotech from NGM Bio, where he was president. His experience also includes senior positions at Theravance Biopharma (NASDAQ: [[ticker:TBPH]]), Satori Pharmaceuticals, and Genentech. Ambys is developing treatments for liver diseases. In August, Ambys launched with a $60 … Continue reading “NGM Bio’s Jeff Jonker Joins Ambys Medicines as President & CEO”
$100M Round Turns San Diego’s Seismic into Region’s Newest Unicorn
Seismic, an enterprise software company with ambitious growth plans, has raised $100 million in a Series E financing and added Microsoft chairman John W. Thompson to its board of directors. The venture investment, which the San Diego startup announced Tuesday, is one of only a few so-called mega-rounds—$100 million or more—recorded this year in the … Continue reading “$100M Round Turns San Diego’s Seismic into Region’s Newest Unicorn”
San Antonio Develops “Action Plan” to Draw Life Sciences Businesses
San Antonio — San Antonio has a new “action plan” for bringing more life sciences businesses and professionals to the city, as well as for retaining those it already has. Economic development groups and city officials have been developing a strategy for boosting the healthcare industry in town for more than a year. BioMed SA, … Continue reading “San Antonio Develops “Action Plan” to Draw Life Sciences Businesses”
With $42M, Ex-Ignyta CEO Aims At Cancer Again With Startup, Erasca
A year after steering cancer drug developer Ignyta into a $1.7 billion sale to Roche, Jonathan Lim is back at it again. Ignyta’s former co-founder and head executive has co-founded another biotech in San Diego, Erasca, which also wants to make new cancer therapies. Erasca on Tuesday closed a $42 million Series A round led … Continue reading “With $42M, Ex-Ignyta CEO Aims At Cancer Again With Startup, Erasca”
Entrada Therapeutics Nabs $59M for Drugs that Gain “Entry” to Cells
When it comes to getting a drug into a cell, size matters. Small molecules can easily pass through the cellular membrane in a way that larger therapeutic proteins can’t, which makes it difficult to develop a biological drug that can reach its target, says Dipal Doshi, CEO of biotech startup Entrada Therapeutics. Entrada, which translates … Continue reading “Entrada Therapeutics Nabs $59M for Drugs that Gain “Entry” to Cells”
15 For ’19: Key Clinical Data to Watch For Next Year (Part 2)
On Monday, Xconomy began our annual look ahead at clinical trials that could define biotech and have profound healthcare effects in the coming year. Today we’re circling back with the rest of the list, which includes studies of drugs for nonalcoholic steatohepatitis, cystic fibrosis, spinal muscular atrophy and more. Read on for the details. [Editor’s … Continue reading “15 For ’19: Key Clinical Data to Watch For Next Year (Part 2)”
Kineta Gets $15M in New Cancer Drug Partnership with Pfizer
Seattle biotech company Kineta continues to expand its roster of drug development partners, announcing on Monday it has entered into a collaboration and licensing agreement with Pfizer to develop therapies that use the body’s disease-fighting capabilities to attack cancerous tumors. Pfizer (NYSE: [[ticker:PFE]]) will pay Kineta $15 million upfront for the exclusive rights to therapies and … Continue reading “Kineta Gets $15M in New Cancer Drug Partnership with Pfizer”
Sophiris, Stock Sliding After Cancer Drug Data, Still Plans Phase 3
Sophiris Bio said Monday that 10 patients who were administered its experimental prostate cancer drug a second time didn’t see any additional benefit. The news sent the San Diego, CA-based biotech’s stock plunging 40 percent. Sophiris (NASDAQ: [[ticker:SPHS]]) already had encouraging mid-stage clinical trial data testing one dose of its drug, topsalysin, in prostate cancer … Continue reading “Sophiris, Stock Sliding After Cancer Drug Data, Still Plans Phase 3”
RightHand Robotics Adds $23M to Scale Up Its Warehouse Tech
Warehouses run entirely by robots may not be waiting on the horizon, but that—and much more—remains a goal for Somerville, MA-based RightHand Robotics. “A typical item delivered to a customer is touched four to 11 times before it ships,” says the company’s co-founder Leif Jentoft. “We are looking to automate every one of those picks.” … Continue reading “RightHand Robotics Adds $23M to Scale Up Its Warehouse Tech”
Versant Ventures Unveils Two New Biotech Funds Totaling $700M
Two years after closing a $400 million fund for biotech investing, Versant Ventures is at it again, this time with $700 million in two new funds. The first of the new funds, Versant Venture Capital VII, is a $600 million biotech fund that the venture capital firm says will be invested in 20 or more … Continue reading “Versant Ventures Unveils Two New Biotech Funds Totaling $700M”
24M, Reeling In $22M, Thinks It Has the Next Great Battery
It turns out we might have been making lithium-ion batteries all wrong this whole time. That’s at least what Cambridge, MA-based battery startup 24M says, now having developed what it sees as the “right” way. The company, a spinoff of A123 Systems, announced today it raised a $21.8 million Series D round led by Japanese … Continue reading “24M, Reeling In $22M, Thinks It Has the Next Great Battery”
A.I. in 2019: IBM Exec on Advances in Training, Trust, Transparency
[Editor’s note: This is part of a series of posts sharing thoughts from technology leaders about 2018 trends and 2019 forecasts.] Today’s artificial intelligence technologies have demonstrated they’re capable of handling specific tasks, such as identifying pictures of cats or spotting cancer in CT scans. Researchers are hopeful the industry’s next breakthroughs will enable A.I. … Continue reading “A.I. in 2019: IBM Exec on Advances in Training, Trust, Transparency”
Seer Launches to Develop Liquid Biopsy for Cancer, Brain Disease
Omid Farokhzad has, as he says, “been around the block a few times” in biotech. The cancer nanomedicine researcher has cofounded a handful of companies that have tried to develop nanotech-based and other drugs for cancer and other diseases. But their results have been mixed. BIND Therapeutics had some clinical disappointments and went bankrupt in … Continue reading “Seer Launches to Develop Liquid Biopsy for Cancer, Brain Disease”
15 for ’19: Key Clinical Data to Watch for Next Year (Part 1)
It can take decades and billions of dollars to develop a drug, and its fate—and often that of its developer—rests in the outcome of clinical trials. Just look at some of 2018’s biggest biotech stories. The failure of a closely watched cancer immunotherapy combination sent ripples through the sector and led several companies to change … Continue reading “15 for ’19: Key Clinical Data to Watch for Next Year (Part 1)”
San Diego Tallies 7 IPOs in Best Year for Market Debuts Since 2014
Will “CBUS” and “SI” join “THOR” and “RMED”? It’s next week or never (until 2019, that is) for two San Diego companies that have filed documents with securities regulators indicating plans to go public. Agtech company Cibus, which uses “precision” gene editing to alter crops, has applied for a listing on the Nasdaq exchange under … Continue reading “San Diego Tallies 7 IPOs in Best Year for Market Debuts Since 2014”
With Losses Mounting, MabVax Therapeutics Looks to Sell Off Assets
MabVax Therapeutics says it doesn’t have enough money to continue funding its operations. The San Diego biotech company, which is testing an antibody discovery platform intended to speed products to patients with cancer and pancreatitis, said Thursday it has retained a local investment banking firm, Objective Capital Partners, to guide its sale. As of Sept. … Continue reading “With Losses Mounting, MabVax Therapeutics Looks to Sell Off Assets”
DataCloud Raises $4M to Guide Miners’ Drilling, Blasting Decisions
DataCloud, a developer of sensors and software to help guide mine operators’ decision-making around drilling and blasting, has raised $4 million in new financing to support the Seattle-based startup’s continued growth. The company’s system combines cloud-based software with connected sensors that are attached to drills and collect data as blast holes are drilled into a … Continue reading “DataCloud Raises $4M to Guide Miners’ Drilling, Blasting Decisions”
Otsuka’s Frank Czerwiec Joins Goldfinch Bio as Chief Medical Officer
Goldfinch Bio has appointed Frank Czerwiec to serve as its chief medical officer. Czerwiec joins the Cambridge, MA, biotech from Otsuka Pharmaceutical Development & Commercialization, where he was most recently vice president, global clinical development, leading the company’s cardio-renal and metabolic/medicine group. Goldfinch is developing treatments for genetically driven kidney diseases.
Emotional Intelligence Startup Cogito Spins Out Mental Health Unit
Cogito, the A.I. startup that wrings emotional intelligence cues out of the human voice, is training its focus on call centers and splitting off its behavioral health unit into a new enterprise called CompanionMX. The new Boston-based company’s CEO is Sub Datta, who most recently worked as chief business officer at Soft Robotics in Cambridge. … Continue reading “Emotional Intelligence Startup Cogito Spins Out Mental Health Unit”
Merck Beefs Up Animal Health Unit with $2.4B Antelliq Acquisition
Merck has agreed to pay nearly $2.4 billion to acquire Antelliq Group, a privately held French company that makes devices used in monitoring and tracking animals. In addition to the cash payment, Merck (NYSE: [[ticker:MRK]]) said it will assume Antelliq’s approximately $1.3 billion debt, which it plans to repay shortly after the deal closes. After … Continue reading “Merck Beefs Up Animal Health Unit with $2.4B Antelliq Acquisition”
Rectify Takes Its Lengthy History to San Antonio Security Incubator
San Antonio—Rectify, a business developing software to automate the process of removing private or sensitive information from documents when they’re shared, has had a busy start to the winter. The Austin, TX-based company won $100,000 during a pitch contest in October at the Women in Tech Summit hosted by Capital Factory. A month later, it … Continue reading “Rectify Takes Its Lengthy History to San Antonio Security Incubator”
U-M’s Desai Accelerator Invests Millionth Dollar Since 2013 Launch
The University of Michigan’s Desai Accelerator, an incubator open to early-stage tech startups regardless of their connection to the school, hit a major milestone this year: It invested its millionth dollar after funding the six companies in its 2018 cohort. The accelerator, a joint initiative between the Zell Lurie Institute for Entrepreneurial Studies at the … Continue reading “U-M’s Desai Accelerator Invests Millionth Dollar Since 2013 Launch”
Boston Tech Watch: Indigo Ag, GE, Algo Capital, Solo.io, Cybric
Venture capital deals, acquisitions, and spin-offs made up much of this week’s Boston technology news. —Boston-based agtech startup Indigo Ag has acquired TellusLabs, an A.I. satellite technology company that was founded in Somerville, MA. Terms of the deal were not disclosed. Indigo says it plans to integrate TellusLabs’ agricultural technology with its on-the-ground data to … Continue reading “Boston Tech Watch: Indigo Ag, GE, Algo Capital, Solo.io, Cybric”
Bio Roundup: Eli Lilly Tries Tau, Generic Insulin, NASH Cash & More
Pharmaceutical industry critics lament the cost of rare disease drugs, but some of the steepest price hikes have come on widely used insulin. The patent holder, the University of Toronto, gave companies the right to manufacture insulin. But the university also allowed them to patent the improvements they made, which enabled them to slap higher … Continue reading “Bio Roundup: Eli Lilly Tries Tau, Generic Insulin, NASH Cash & More”
Carl Decicco Departs Bristol-Myers for Foghorn Executive Role
Foghorn Therapeutics has appointed Carl Decicco to serve as its chief scientific officer. Decicco joins the Cambridge, MA, biotech from Bristol-Myers Squibb (NYSE: [[ticker:BMY]]), where he was head of discovery. In addition to his executive role at Foghorn, Decicco will also serve as a venture partner at Flagship Pioneering, the venture capital firm that launched … Continue reading “Carl Decicco Departs Bristol-Myers for Foghorn Executive Role”
TMC’s Halvorsen Exits Innovation Institute in Houston
[Updated 12/13/18, 7:20 p.m.] Erik Halvorsen, who led the Texas Medical Center’s Innovation Institute, is out as director of the institute. Lance Black, the institute’s medical device lead, became the interim director Thursday, Black confirmed. He declined to comment further. Halvorsen, a veteran of the Boston biotech scene, joined the TMC nearly three years ago … Continue reading “TMC’s Halvorsen Exits Innovation Institute in Houston”
Udacity Achieves 50,000 Nanodegree Grads Amid Company Reorganization
Udacity, a pioneer in the online teaching of IT skills, is celebrating a milestone today—50,000 students have now graduated from one of its revenue-generating “Nanodegree” programs. Launched four years ago, the Nanodegree courses allow students worldwide to gain expertise in areas such as data analytics, machine learning, and autonomous flight engineering by completing coursework that … Continue reading “Udacity Achieves 50,000 Nanodegree Grads Amid Company Reorganization”
Aethlon Medical Names GlobeImmune’s Timothy Rodell as Interim CEO
Aethlon Medical has appointed Timothy Rodell as its interim CEO, the company announced Thursday. Rodell was previously president and CEO of Louisville, CO-based GlobeImmune from 2002 to 2016. He remains a GlobeImmune director and consultant. GlobeImmune was acquired last year by NantCell, a subsidiary of Patrick Soon-Shiong’s NantWorks. Rodell succeeds Aethlon’s (NASDAQ: [[ticker:AEMD]]) Jim Joyce. Aethlon … Continue reading “Aethlon Medical Names GlobeImmune’s Timothy Rodell as Interim CEO”
Female-Centric Coworking Firm The Riveter Raises $15M to Fuel Growth
The outlook appears to be rosy for The Riveter. The Seattle-based startup, which bills itself as a “membership network built by women, for everyone,” says it has raised $15 million in new funding. The Riveter, which launched in May 2017, operates coworking spaces and organizes events and workshops for its members and the public. It … Continue reading “Female-Centric Coworking Firm The Riveter Raises $15M to Fuel Growth”
Apple Plans 5,000 Jobs for New Austin Site as Part of Nationwide Expansion
Austin — [Updated 3:10 p.m. See below.] Apple expects to make thousands of new hires around the country from Seattle to New York, the company announced Thursday, with its biggest growth planned for Austin, TX. The computer and smartphone manufacturer plans to hire 5,000 new employees in Austin and to spend $1 billion building a new … Continue reading “Apple Plans 5,000 Jobs for New Austin Site as Part of Nationwide Expansion”
Hi Fidelity Genetics Raises $8.5M to Improve Plant Breeding With AI
Cross breeding plants is a time-tested practice for producing hybrids with higher crop yields. But finding the plant parents with the genetics that will generate the best hybrid takes time. Hi Fidelity Genetics says its artificial intelligence approach speeds up the process and reduces costs. As Hi Fidelity ramps up its research and development, the … Continue reading “Hi Fidelity Genetics Raises $8.5M to Improve Plant Breeding With AI”
Napa Summit 2019
Napa Summit 2019 makes the eighth convening of an intimate and interdisciplinary gathering where far-seeing technologists and exemplary business leaders and investors come together to explore what’s over the horizon. Together we’ll discuss insights, challenges, and proposed solutions to big issues spanning global markets and the economy, and fields such as venture capital, A.I. and … Continue reading “Napa Summit 2019”
Aiera Bags $3.5M for A.I. to Help Wall Street Analysts Pick Stocks
Machine learning startups are trying to establish a deeper presence on Wall Street. The latest move comes from Aiera (pronounced like “era”), a New York- and Boston-based company that announced today it took in $3.5 million in seed funding. Flybridge Capital Partners led the investment and was joined by Macquarie Group, Innovation Endeavors, Fin Venture … Continue reading “Aiera Bags $3.5M for A.I. to Help Wall Street Analysts Pick Stocks”