[Corrected 12/6/18, 2:32 p.m. See below.] Even as all eyes were on the American Society of Hematology (ASH) conference in downtown San Diego this week, other biotech companies were staying busy. Let’s get caught up with the latest life sciences news in San Diego. (Check out Xconomy’s ASH coverage here and here.) —Viracta Therapeutics has … Continue reading “Viracta, Neurelis & More: The Latest in San Diego Biotech”
OncoMed’s Saga Ends in Reverse Merger with UK-Based Mereo BioPharma
OncoMed Pharmaceuticals attracted hundreds of millions of dollars from investors and pharmaceutical partners with compounds it developed to target cells that drive cancer growth. But after a series of clinical trial stumbles and the dissolution of its drug development alliances over the last two years, OncoMed is now serving as a vehicle for a UK-based … Continue reading “OncoMed’s Saga Ends in Reverse Merger with UK-Based Mereo BioPharma”
Ford Unveils Cutting-Edge Manufacturing Technology at $45M Test Bed
Ford Motor Company is undergoing a transformation from nuts-and-bolts automaker to something that more closely resembles a tech company, and this week, the company offered press tours of its $45 million Advanced Manufacturing Center in Redford, MI. The center, meant to be a sort of digital test bed, didn’t look at all like a traditional … Continue reading “Ford Unveils Cutting-Edge Manufacturing Technology at $45M Test Bed”
Alto Lands $50M as Pharmacy Sector Embraces E-Commerce Lessons
[Updated 12/5/18, 5:16 pm. See below.] The pharmacy industry’s transformation is accelerating, as traditional drug retailers strike deals to expand their businesses and fend off technology startups encroaching on their territory. The latest salvo in the increasingly competitive sector is a $50 million investment in Alto Pharmacy, a San Francisco-based “digital pharmacy” startup that has … Continue reading “Alto Lands $50M as Pharmacy Sector Embraces E-Commerce Lessons”
GrainChain, Chargify, Q2, Hypergiant, NASA Tech & More TX Tech
Let’s get caught up with the latest innovation news in Texas. —GrainChain, a blockchain agtech company based in the Rio Grande Valley in Texas, has raised $2.5 million in funding from Medici Ventures, a blockchain accelerator owned by Overstock.com (NASDAQ: [[ticker:OSTK]]). Medici has a 10 percent ownership in the startup and has an option to increase … Continue reading “GrainChain, Chargify, Q2, Hypergiant, NASA Tech & More TX Tech”
Adherium Aims to Improve Asthma Patient Outcomes with Smart Inhalers
Asthma is the third-ranking cause of hospitalization for children under 15 years of age in the U.S., and it’s the leading cause of missed school among children ages 5 to 17. Missed school can lead to missed work and lost income if parents need to stay home to care for their sick kids, potentially leading … Continue reading “Adherium Aims to Improve Asthma Patient Outcomes with Smart Inhalers”
“JK Told Me He Was Planning This”: A CRISPR Baby Q&A with Matt Porteus
Last week, Chinese researcher He Jiankui stunned the world with his claim to have created the world’s first gene-edited humans. He said he had used CRISPR-Cas9 to change the DNA of the embryos of twin girls, to make them immune to HIV infection, then implanted them in their mother’s womb. He announced on video the … Continue reading ““JK Told Me He Was Planning This”: A CRISPR Baby Q&A with Matt Porteus”
Enzyme Health Adds $1.7M for Clinician Telemedicine Job Marketplace
Austin—A new telehealth-focused startup, Enzyme Health, has raised a $1.7 million seed funding round to build out its marketplace for doctors and nurse practitioners looking for new online gigs. Enzyme Health connects clinicians with the companies that provide telemedicine services to patients, with the aim of helping doctors and nurse practitioners find more freelance work … Continue reading “Enzyme Health Adds $1.7M for Clinician Telemedicine Job Marketplace”
BCMA Day: At ASH ‘18, Cell Therapies For Myeloma Take Center Stage
The treatment landscape for multiple myeloma, a deadly cancer of the bone marrow that affects about 30,000 Americans every year, has changed significantly over the past decade. And more changes look to be on the way. Take the results of a Phase 3 study just reported today at the American Society of Hematology’s (ASH) yearly … Continue reading “BCMA Day: At ASH ‘18, Cell Therapies For Myeloma Take Center Stage”
Growing Fast? GotSpot Aims to Pair Young Firms With Short-Term Digs
Houston—It’s not just biotech companies that must cross the valley of death on their way to commercial success. Everyday Mom-and-Pop shops, too, have to navigate the tricky adolescence period when their businesses are starting to take off but they don’t have the capital to rent out the space and equipment to fulfill larger orders—a problem … Continue reading “Growing Fast? GotSpot Aims to Pair Young Firms With Short-Term Digs”
Event-Stream Hack Is Not Cause For Panic About Open-Source Security
News last week that event-stream, the popular open-source code library managed by NPM, had been compromised by a hacker (or hackers) looking to steal Bitcoin led some to question the underlying security of the open-source components that they are using in their software. According to reports, a hacker gained control of the event-stream package by … Continue reading “Event-Stream Hack Is Not Cause For Panic About Open-Source Security”
15Five Lands $8M to Provide Coaching Software to More Managers
[Updated 12/4/18 9:20 am. See below.] San Francisco-based performance management startup 15Five, whose mission is to torpedo annual performance reviews for workers and replace them with supportive weekly coaching by managers, announced today it raised $8 million in a Series A funding round. 15Five gets its name from the feedback and coaching process that its … Continue reading “15Five Lands $8M to Provide Coaching Software to More Managers”
Superpedestrian Rolls Out Smarter, Hardier E-Scooter for Sharing
It’s the diagnosis of Superpedestrian CEO Assaf Biderman that bike- and scooter-share startups know far too little about bikes and scooters. His Cambridge, MA-based transportation technology startup is announcing its foray into scooter sharing today with what it says is a smart, durable, and efficient scooter of its own. Biderman sees the feverish industry—crowded with … Continue reading “Superpedestrian Rolls Out Smarter, Hardier E-Scooter for Sharing”
Brain Corp. Agrees to Power More Walmart Self-Driving Floor Scrubbers
Early next year the floors of hundreds of Walmart stores will be cleaned by self-driving scrubbing machines powered by software developed by San Diego’s Brain Corp. On Monday, Brain said Walmart (NYSE: [[ticker:WMT]]), the world’s largest retailer, will be using BrainOS, its proprietary operating system, in 360 such autonomous machines by Jan. 31, the end … Continue reading “Brain Corp. Agrees to Power More Walmart Self-Driving Floor Scrubbers”
Cidara Names Former Sapphire Energy CEO Jamie Levin as CFO
Cidara Therapeutics (Nasdaq: [[ticker:CDTX]]) has appointed Jamie Levine as its chief financial officer. Previously Levine served as CEO of two local industrial biotech companies, Sapphire Energy and Verenium. Prior to that he spent 11 years in investment banking at Goldman Sachs where he worked with the bank’s healthcare and energy industry clients. The San Diego … Continue reading “Cidara Names Former Sapphire Energy CEO Jamie Levin as CFO”
For Qualcomm, Xi’s Comments on NXP Deal Are Too Little, Too Late
Wireless giant Qualcomm spent a bruising two years pursuing NXP Semiconductors NV, the Dutch firm that could have accelerated its entrée into new areas like automotive chips. Qualcomm, caught up in rising U.S.-China trade tensions, ended the bid in July after Chinese regulators allowed Qualcomm’s self-imposed deal deadline to pass. But at a dinner Saturday … Continue reading “For Qualcomm, Xi’s Comments on NXP Deal Are Too Little, Too Late”
ASH 2018: Three Up, Two Down as Big Blood Disease Meeting Rolls On
[Updated 4:37 p.m. See below.] Last week, Xconomy previewed the American Society of Hematology’s big meeting in San Diego, the largest medical gathering in the country on blood diseases. We took a deep dive into five specific disease areas under scrutiny, from lymphoma to hemophilia to sickle cell disease and more. News related to those … Continue reading “ASH 2018: Three Up, Two Down as Big Blood Disease Meeting Rolls On”
ResMed Boosts Connected Health Play With $225M Propeller Health Deal
[Updated 12/3/18, 3:30 pm, with CEO comments.] ResMed has inked a $225 million deal to acquire Propeller Health, in the latest endorsement of Internet-connected devices for healthcare. The acquisition, which is expected to close by the end of March 2019, continues San Diego-based ResMed’s (NYSE: [[ticker:RMD]]) “connected healthcare” push that began about five years ago, … Continue reading “ResMed Boosts Connected Health Play With $225M Propeller Health Deal”
Manufacturing Gig Platform FactoryFix Raises $1.5M, Relocates to WI
This year, the state of Wisconsin rolled out a marketing campaign aimed at wooing young professionals from Chicago, claiming the Badger State tends to offer cheaper rents, shorter commutes, and easier access to outdoor activities than the Windy City. But for FactoryFix CEO and founder Patrick O’Rahilly, whose manufacturing staffing software startup recently relocated its … Continue reading “Manufacturing Gig Platform FactoryFix Raises $1.5M, Relocates to WI”
WI Syndication Group Seeks More Investor Team-ups to Spur Big Exits
Many startup investments involve multiple investors these days, but it’s not always easy to assemble a group of backers necessary to close the deal. Wisconsin—which has a small local pool of venture capital and aspirations to churn out more high-growth startups—is one of the places experimenting with tactics to nurture relationships and collaboration between investors … Continue reading “WI Syndication Group Seeks More Investor Team-ups to Spur Big Exits”
GSK Pays $5.1B For Tesaro, Setting Up “PARP” Battle With Rival AstraZeneca
GlaxoSmithKline on Monday agreed to pay $5.1 billion for Tesaro, becoming the latest firm to bet on a new type of cancer drug that has shown promise treating multiple tumor types but has yet to become a blockbuster seller. GSK (NYSE: [[ticker:GSK]]) said it will pay $75 per share in cash for Waltham, MA-based Tesaro … Continue reading “GSK Pays $5.1B For Tesaro, Setting Up “PARP” Battle With Rival AstraZeneca”
Volvo Expands In Silicon Valley As Auto Innovation Goes West
As GM announced a wave of auto plant closures in the North American heartland this week at the cost of thousands of jobs, Sweden’s Volvo Cars was expanding its U.S. presence, both in Silicon Valley and at a new South Carolina factory. Like Detroit-based GM (NYSE: [[ticker:GM]]), which is shifting its attention from traditional auto manufacturing … Continue reading “Volvo Expands In Silicon Valley As Auto Innovation Goes West”
Fetch Rewards Bags $8M After Shaking Up Its Grocery Rewards Model
Mobile app startup Fetch Rewards has scooped up $8 million in new venture funding to try and expand its grocery shopping rewards business. The Madison, WI-based company’s latest equity financing was disclosed in a document filed with the SEC this week. Fetch CEO and co-founder Wes Schroll couldn’t be immediately reached for comment Friday afternoon. … Continue reading “Fetch Rewards Bags $8M After Shaking Up Its Grocery Rewards Model”
High Alpha’s Anvl Teams with Cummins to Launch Work Safety Software
High Alpha, the Indianapolis “venture studio” that funds and incubates startups, has launched a new workplace safety software company called Anvl. Anvl’s software allows for the capture and synthesis of environmental, sensor, and other data to “intervene at the point of risk” and guide workers in dangerous maintenance and service jobs to safety. The company … Continue reading “High Alpha’s Anvl Teams with Cummins to Launch Work Safety Software”
Made in Italy: MakersValley Connects Boutiques to Apparel Factories
Amid what seems like unlimited choices, a key way for retailers to stand out is to try to offer products no one else has. For a small boutique, that could be exclusive access to a bespoke clothing line, say, but creating and manufacturing one is typically cost-prohibitive except for the largest of retailers. Enter MakersValley. … Continue reading “Made in Italy: MakersValley Connects Boutiques to Apparel Factories”
Occipital Reaches Turning Point with New 3D Sensor for Drones, VR
Occipital, the San Francisco-based spatial computing startup, first planted its flag in computer vision tech five years ago when it released a plug-in sensor, billed as the first 3D sensor created for mobile devices such as the iPad. Called Structure Sensor, it allows users—mostly software developers and gamers—to capture 3D models or images in order … Continue reading “Occipital Reaches Turning Point with New 3D Sensor for Drones, VR”
Boston Tech Watch: Gradifi, Numerated, Jibo, Corvus, Botkeeper
A wave of cash for finance and insurance tech startups, a robotic assistant goes dark, and a medical transportation startup’s move across the Bay State make up the latest in Boston technology news. Read on for details. —The former head of PayPal’s (NASDAQ: [[ticker:PYPL]]) Boston office, David Chang, has been named CEO of Gradifi, a … Continue reading “Boston Tech Watch: Gradifi, Numerated, Jibo, Corvus, Botkeeper”
Bio Roundup: CRISPR Babies, Blood Diseases, Big Cancer Nod & More
This was one of those weeks when the world seemed to slip into a new era with no going back. A Chinese researcher, He Jiankui, claimed he helped bring to life two genetically engineered babies, twin girls with a gene disabled to make them immune to HIV infection. Even though the technology He used—in vitro … Continue reading “Bio Roundup: CRISPR Babies, Blood Diseases, Big Cancer Nod & More”
As Hedge Fund Presses Takeover Bid, Mitek CFO Rescinds Resignation
Elliott Management, a New York-based activist hedge fund, has had San Diego-based Mitek Systems in its crosshairs for months. In October, Elliott subsidiary ASG Technologies Group publicly “reaffirmed” an offer to buy Mitek (NASDAQ: [[ticker:MITK]]) at $10 per share—an unsolicited proposal that it said Mitek had previously rebuffed, claiming it undervalued the company. At the … Continue reading “As Hedge Fund Presses Takeover Bid, Mitek CFO Rescinds Resignation”
Connect Honors 7 New Products as ‘Most Innovative’ at Annual Awards
San Diego’s Connect, which runs a tech and life science startup accelerator, recognized seven local companies Thursday night at its 31st annual Most Innovative New Product Awards (MIP) gala. Winners were picked from the 23 finalists that advanced through an earlier round of selections in the spring. The seven companies that won were chosen by … Continue reading “Connect Honors 7 New Products as ‘Most Innovative’ at Annual Awards”
GM’s Ammann Takes Reins of Cruise From Co-Founder Vogt, Now CTO
Self-driving car business Cruise has a new leader: Dan Ammann, the General Motors president who led the company’s acquisition of Cruise in 2016, is now being named CEO of the autonomous vehicle subsidiary. Cruise co-founder Kyle Vogt is relinquishing the top role to remain with the company as its president and chief technology officer. Vogt … Continue reading “GM’s Ammann Takes Reins of Cruise From Co-Founder Vogt, Now CTO”
Women Inspire NYC’s Tech Startups to Dream Bigger
As a native New Yorker, it may not come as much of a surprise that growing up I wanted to work in finance. In fact, I put myself through NYU Stern while working for companies like IBM, Prudential, and Merrill Lynch, and joined Goldman Sachs upon graduation. You could say I had made it in … Continue reading “Women Inspire NYC’s Tech Startups to Dream Bigger”
Coinbase Backs Flipside Crypto Amid “Healthy” Currency Selloff
(Updated 11/29/18, 11 a.m. with additional funding details) The crash in digital currency values has tossed fuel on the already raging fire of skepticism around many crypto projects, which are suspected as scams masquerading as a technology of tomorrow. But the price retreat—and the accompanying losses to crypto speculators—are welcome news to Dave Balter, CEO … Continue reading “Coinbase Backs Flipside Crypto Amid “Healthy” Currency Selloff”
Alkermes Schizophrenia Drug Heads To FDA, But Questions Linger
Alkermes got some much-needed good news on Thursday, announcing that an experimental schizophrenia drug fared better than a staple drug for the debilitating disease in a closely watched study. But is that benefit big enough for doctors to prescribe the drug, if it’s approved, over cheap generics? Alkermes (NYSE: [[ticker:ALKS]]), of Dublin, Ireland, and Waltham, … Continue reading “Alkermes Schizophrenia Drug Heads To FDA, But Questions Linger”
Aras Adds $70M from Goldman Sachs to Grow Product Software
Aras, a “product lifecycle management” software company based in Andover, MA, has raised $70 million in a Series D investment round led by Goldman Sachs. The deal is aimed at beefing up Aras’s enterprise software capabilities and expanding its reach farther around the globe. Earlier investors Silver Lake Kraftwerk and GE Ventures joined in the … Continue reading “Aras Adds $70M from Goldman Sachs to Grow Product Software”
ViaCyte Raises $80M to Prep for the Clinic Now, Perhaps an IPO Later
ViaCyte is recruiting patients for clinical trials testing its experimental stem cell-based diabetes treatment. Now it has $80 million to support that work, and also prepare for something more: a possible IPO. The financing, a Series D round of investment, includes so-called crossover investors that back both public and private companies. CEO Paul Laikind told … Continue reading “ViaCyte Raises $80M to Prep for the Clinic Now, Perhaps an IPO Later”
Amazon Wants to Help Doctors and Patients Process Healthcare Data
Amazon intends to wade deeper into healthcare. The company announced Tuesday that it is working with groups in the industry to help them make sense of unstructured medical data using Amazon’s software tools. The Seattle e-commerce and technology giant unveiled what it calls Amazon Comprehend Medical, which the company says could help hospitals, clinics, and … Continue reading “Amazon Wants to Help Doctors and Patients Process Healthcare Data”
Abeona Terminates CEO Carsten Thiel for “Personal Misconduct”
Seven months after departing Alexion Pharmaceuticals for the CEO role at Abeona Therapeutics, Carsten Thiel is out of the job. Thiel has been terminated due to “personal misconduct,” Abeona (NASDAQ: [[ticker:ABEO]]) said in a prepared statement. The New York company said the termination followed an investigation by independent members of the board of directors and … Continue reading “Abeona Terminates CEO Carsten Thiel for “Personal Misconduct””
CytoBiosciences Buys Fellow Targeted Tech Company BioDTech for Stock
San Antonio — One portfolio company of investment firm Targeted Technology is acquiring another. San Antonio-based CytoBioscience, through its parent company, is buying BioDtech, a Birmingham, AL-based maker of technology for detecting and removing endotoxins, toxins that are carried within the cell walls of certain bacteria and associated with various types of infections, according to a … Continue reading “CytoBiosciences Buys Fellow Targeted Tech Company BioDTech for Stock”
BlueRock Therapeutics Adds Min Wang to C-Suite
Min Wang has been appointed chief legal and administrative officer of Cambridge, MA-based BlueRock Therapeutics. Wang was most recently general counsel and corporate secretary of Agios Pharmaceuticals (NASDAQ: [[ticker:AGIO]]). Her experience also includes posts at Genentech and Merck (NYSE: [[ticker:MRK]]). BlueRock, which develops regenerative medicines for tough-to-treat diseases, launched in late 2016 backed by $225 … Continue reading “BlueRock Therapeutics Adds Min Wang to C-Suite”
Auris Health Lands $220M to Expand Sales of Lung Testing Medical Robot
Auris Health has already received regulatory clearance to sell its medical robot in the U.S. Now it has $220 million in funding to help it place the technology in the hands of surgeons. The latest investment, which the company calls “growth financing,” was led by Partner Fund Management. Redwood City, CA-based Auris says it will … Continue reading “Auris Health Lands $220M to Expand Sales of Lung Testing Medical Robot”
Workers, Investors, Trump React to Cuts as GM Clears Way for Mobility
On Monday, GM made an announcement that rattled Wall Street, automotive analysts, its own workforce, and President Trump . A day after the car manufacturer announced plans to close factories in Michigan, Ohio, Maryland, and Oshawa, Ontario, Trump threatened on Twitter Tuesday afternoon to take away GM’s federal electric car subsidies, which it uses to … Continue reading “Workers, Investors, Trump React to Cuts as GM Clears Way for Mobility”
Last Chance to Save on Tickets for Xconomy’s Bay Area Biotech Event
There’s just one week left until Xconomy’s latest biotech event, “San Francisco Biotech: The Next Generation.” Don’t let the clock run out while you can still save some cash on a ticket. Next Wednesday, Dec. 5, company founders and visionary scientists will share how they are pursuing new ideas and breaking biotech boundaries. Don’t wait … Continue reading “Last Chance to Save on Tickets for Xconomy’s Bay Area Biotech Event”
WI Watchlist: Amazon, JCI, Understory, Titan Spine, Eurofins
[Updated 11/28/18, 10:08 am. See below.] Time to catch up on recent headlines from Wisconsin’s innovation community: —Understory, a Madison-based startup that tracks weather via networks of solar-powered sensors, said it reeled in a $7.5 million investment led by local venture firm 4490 Ventures. Other investors in the deal included the Rise of the Rest … Continue reading “WI Watchlist: Amazon, JCI, Understory, Titan Spine, Eurofins”
Under Fire, He Jiankui Says He’s “Proud” to Help Make CRISPR’d Babies
[Updated, 11/28/18, 12:20pm ET. See below.] Is there another CRISPR baby on the way? In his first public appearance since his stunning claim, released on YouTube Sunday, that he helped bring the first genome-edited humans into the world, He Jiankui, a genomics researcher at Southern University of Science and Technology of China in Shenzhen, said … Continue reading “Under Fire, He Jiankui Says He’s “Proud” to Help Make CRISPR’d Babies”
Roche Gains Place in NASH Race with Purchase of Jecure Therapeutics
Roche is acquiring San Diego startup Jecure Therapeutics, with hopes of turning Jecure’s early research into a drug or drugs that treat the liver disease NASH. Through its South San Francisco, CA-based Genentech division, the Swiss pharmaceutical giant will acquire Jecure, whose work has yet to reach clinical studies, the companies announced Tuesday. No financial … Continue reading “Roche Gains Place in NASH Race with Purchase of Jecure Therapeutics”
Shine Raises $30M, Could Add $150M More After Inking Deerfield Deal
[Updated 11/28/18 10:52 a.m. See below.] Shine Medical Technologies, a Janesville, WI-based company that’s working to resume domestic production of a vital medical isotope, said Tuesday that Deerfield Management, a New York-based investing firm, has agreed to pour up to $150 million into Shine’s coffers in the coming years. Shine executives had previously told company shareholders … Continue reading “Shine Raises $30M, Could Add $150M More After Inking Deerfield Deal”
Organovo Says Chief Scientific Officer Sharon Presnell Will Resign
Organovo’s chief scientific officer, Sharon Presnell, will resign next week, according to a regulatory document the company filed Tuesday. Presnell is also president of Organovo subsidiary Samsara Sciences. Organovo (NASDAQ: [[ticker:ONVO]]) is using what it calls 3D bio-printing technology to make living human liver tissue “patches”; Samsara sells human liver cells for research applications. Presnell’s resignation … Continue reading “Organovo Says Chief Scientific Officer Sharon Presnell Will Resign”
Vida Medical Preps Tests of Vascular Line Device, with More in Store
San Antonio — Vida Medical Devices, a startup led by a Brazilian inventor and a longtime San Antonio life sciences executive, is preparing to hit the market with a test version of its first medical device: a guard that protects vascular access lines during surgery. This month, Vida is having a contract manufacturer produce a batch … Continue reading “Vida Medical Preps Tests of Vascular Line Device, with More in Store”
NY E-Commerce Startups Ponder a Future With Amazon “HQ2” in Backyard
As Amazon moves into its new home in the Big Apple, the company will find itself immersed in a storied—if tumultuous—local retail industry. Unlike the other contenders for Amazon’s so-called “HQ2” satellite offices, New York City is home to the nation’s historical retail roots on “Fashion Avenue,” as well as a growing e-commerce startup scene. … Continue reading “NY E-Commerce Startups Ponder a Future With Amazon “HQ2” in Backyard”