[Updated 10/29/18, 12:53 pm, with executives’ comments.] IBM has agreed to buy open-source software maker Red Hat in a $34 billion bet aimed at helping it win the cloud computing war against Amazon, Microsoft, and Google. It’s one of the largest-ever U.S. tech acquisitions—the $67 billion Dell-EMC deal holds the top spot. Armonk, NY-based IBM … Continue reading “IBM Buying Red Hat in $34B Mega-Deal to Beat Amazon, Google in Cloud”
Free of Baggage, Dicerna Cuts Another RNAi Deal and Gets $200M
It wasn’t too long ago that pharma companies were abandoning the development of RNA interference medicines. But there are some small signs that interest has been rekindled. And Dicerna Pharmaceuticals, which recently ended a long-running legal spat with the field’s leader, Alnylam Pharmaceuticals, is reaping the rewards. This morning Eli Lilly (NYSE: [[ticker:LLY]]) teamed with … Continue reading “Free of Baggage, Dicerna Cuts Another RNAi Deal and Gets $200M”
Cuida Health Launches Voice-Based ‘Social Wellness’ App for Seniors
Lisa doesn’t interrupt. She doesn’t mind long pauses between responses. And she has a sense of humor. Oh – and, she’s virtual. San Diego startup Cuida Health, a recent graduate of the Connect Springboard accelerator program, this week launched its first product: a voice-activated “social wellness” app for seniors. For the past four months, about … Continue reading “Cuida Health Launches Voice-Based ‘Social Wellness’ App for Seniors”
Melinta Chief Exec Wechsler Steps Down, Johnson Named Interim CEO
Melinta Therapeutics (NASDAQ: [[ticker:MLNT]]) CEO Dan Wechsler has stepped down from the company and its board of directors. In his place, the New Haven, CT, antibiotics company appointed board member John Johnson to serve as interim CEO. Wechsler joined Melinta last November. In a prepared statement, the company said he is leaving “to pursue other … Continue reading “Melinta Chief Exec Wechsler Steps Down, Johnson Named Interim CEO”
Novartis Exec Mitchener Joins Axcella as Chief Business Officer
Stephen Mitchener has been appointed senior vice president and chief business officer of Cambridge, MA-based Axcella Health. Mitchener’s experience includes 15 years at Novartis (NYSE: [[ticker:NVS]]), where he was most recently head of U.S. oncology strategy, partnering, and operations. In 2016, Axcella rebranded and turned its efforts toward developing drugs that treat metabolic dysregulation after … Continue reading “Novartis Exec Mitchener Joins Axcella as Chief Business Officer”
Pineapples and Bananas: Yummy to Eat, And Now Fashionable to Wear
Style trends may come and go but the apparel industry is increasingly accepting that sustainability will always be in fashion. “We have the chance to shift the environment to a cleaner, more non-toxic place,” says Greg Altman, co-founder and CEO of Silk, a Boston-area maker of a proprietary liquid silk. “That’s really our goal.” To … Continue reading “Pineapples and Bananas: Yummy to Eat, And Now Fashionable to Wear”
Boston Tech Watch: Scooter Regs, Threat Stack, iRobot, Teikametrics
Cybersecurity layoffs, higher import tariffs on robotic vacuum cleaners, funding deals, and a push for e-scooter regulations make up the pulse of technology news this week in Boston. Read on for more. —A bill proposed in the Massachusetts State House would apply the same regulatory system that oversees ride-hailing app businesses such as Uber and … Continue reading “Boston Tech Watch: Scooter Regs, Threat Stack, iRobot, Teikametrics”
U.K. Slaps Maximum Fine of $645,000 on Facebook for Privacy Violations
The U.K.’s data privacy regulator fined Facebook $645,000 for violations that allowed political marketing firm Cambridge Analytica and other outside companies to extract 87 million Facebook profiles worldwide without adequate user knowledge or consent. The purpose of the U.K.’s enforcement actions is to change the behavior of organizations that mishandle the sensitive private information of … Continue reading “U.K. Slaps Maximum Fine of $645,000 on Facebook for Privacy Violations”
Bio Roundup: Alzheimer’s Puzzle, ESMO Assessed, Drug Prices & More
In the biotech investment and research communities this week, much of the attention was turned to Europe. Munich, Germany, hosted the annual conference of the European Society for Medical Oncology, where cancer drug developers unveiled the latest clinical data for experimental immunotherapies and drugs that treat the disease based on a tumor’s genetic signature. Also … Continue reading “Bio Roundup: Alzheimer’s Puzzle, ESMO Assessed, Drug Prices & More”
Startup Developing Opioid Alternative Takes Top ‘Quick Pitch’ Honors
The winner of the largest-ever startup pitch contest in San Diego is aiming to solve a problem that is weighing heavily on the national consciousness. The same day President Trump signed a bipartisan package of measures to address the opioid epidemic, San Diego startup NeuraLace Medical won $50,000 on Wednesday at the annual John G. … Continue reading “Startup Developing Opioid Alternative Takes Top ‘Quick Pitch’ Honors”
Trump Plan Ties Medicare Drug Prices to Cheaper Foreign Ones
[Updated 5:41pm ET with analyst note, see below.] When the Trump administration announced its blueprint for lowering prescription drug prices in May, many observers said it was too soft on the biopharma industry and didn’t contain concrete initiatives that could truly cut costs. But with the U.S. midterm elections fast approaching and the high cost … Continue reading “Trump Plan Ties Medicare Drug Prices to Cheaper Foreign Ones”
Fresh Data Add More Confusion to Eisai-Biogen Alzheimer’s Drug
Three months after controversial data suggested an Alzheimer’s drug could slow the mental decline of the disease, the drug’s owners tried to bolster their argument today that the good news over the summer was not a statistical illusion. The drug in question is dubbed BAN2401, and it’s being co-developed by Biogen (NASDAQ: [[ticker:BIIB]]) of Cambridge, … Continue reading “Fresh Data Add More Confusion to Eisai-Biogen Alzheimer’s Drug”
89Bio Joins NASH Chase with a Teva Drug and $60M in Funding
[Corrected 10/25/18, 5:26 p.m. See below.] The competition to develop a treatment for nonalcoholic steatohepatitis, a serious liver disorder, has another player. 89Bio launched Thursday with $60 million in financing and a lead compound originally developed by Teva Pharmaceutical. [Paragraph updated to correct dollar amount.] San Francisco-based 89Bio says that it has acquired a pipeline of … Continue reading “89Bio Joins NASH Chase with a Teva Drug and $60M in Funding”
Delivery Robots in Big D, Rodriguez Leaves the Station, & More TX Tech
[Updated 2:05 p.m. See below.] Let’s catch up with the latest innovation news in Texas. —Dallas-based Neos Therapeutics (NASDAQ: [[ticker:NEOS]]) has licensed a drug candidate that would treat excessive salivation or drooling in patients with neurological conditions such as cerebral palsy, Parkinson’s disease, amyotrophic lateral sclerosis, and mental disorders. The experimental drug has only preclinical … Continue reading “Delivery Robots in Big D, Rodriguez Leaves the Station, & More TX Tech”
Still Seeking Pharma Partner, Phoenix Bio Adds $1M in Angel Funding
San Antonio — Phoenix Biotechnology, which has been developing an experimental plant-based drug for cancer for more than a decade, has added about $1 million in new funding, according to a securities filing and the company’s top scientist. The San Antonio-based biotech is using the money to continue research and operations for developing its cancer drug, … Continue reading “Still Seeking Pharma Partner, Phoenix Bio Adds $1M in Angel Funding”
Robots, A.I., and Cybersecurity Hit X·CON at Google on Nov. 6
Leaders across the robotics and artificial intelligence industries are coming together on the last day of X·CON, Xconomy’s newest interactive event focusing on technology and transformation. The full conference is happening November 4-6 across three innovation venues in Kendall Square and Boston’s Seaport District. Join us for a special morning program focusing on robotics, artificial … Continue reading “Robots, A.I., and Cybersecurity Hit X·CON at Google on Nov. 6”
Pursuing a “Crazy, Stupid” Idea & Photos From Disruptors in Boston
Michael Gilman was so close to retiring two years ago. His company, Padlock Therapeutics, was just acquired by Bristol-Myers Squibb (NYSE: [[ticker:BMY]]), and he was on his last week on the job. But at a board meeting, he saw an old friend, Jennifer Petter—then Russ Petter—and asked, what are you working on these days? Petter, … Continue reading “Pursuing a “Crazy, Stupid” Idea & Photos From Disruptors in Boston”
Vertex Hums Along as AbbVie Snatches Up a Rival’s CF Drugs for $45M
AbbVie has just reworked a long-running deal with partner Galapagos NV, paying $45 million up front—a small sum for the pharmaceutical giant—to gain rights to all of the Belgian company’s experimental cystic fibrosis drugs. The deal changes the competitive landscape for cystic fibrosis, a field currently dominated by Boston-based Vertex Pharmaceuticals (NASDAQ: [[ticker:VRTX]]). AbbVie (NYSE: … Continue reading “Vertex Hums Along as AbbVie Snatches Up a Rival’s CF Drugs for $45M”
Berkeley’s SkyDeck Offers Chip Design Support Worth Millions to Startups
The current land rush in chip development, spurred as new technologies such as artificial intelligence create new needs, is pitting established semiconductor companies like Intel and Nvidia against tech titans like Facebook that are building their own chips. A wave of next-generation chip companies has also entered the fray. So how much room remains for … Continue reading “Berkeley’s SkyDeck Offers Chip Design Support Worth Millions to Startups”
In E-Commerce Marketing Race, Privy Aims to Democratize Online Tools
The push by Boston e-commerce tech startup Privy to become a marketing Swiss army knife for online merchants has fueled a new $4.25 million funding round for the company. The money will be used to double its headcount and help it move into more spacious digs from its current scrappy office quarters. Founder and CEO … Continue reading “In E-Commerce Marketing Race, Privy Aims to Democratize Online Tools”
Amgen Slashes Cholesterol Drug Price 60% to Match Rival Regeneron
[Updated, 10/25/18, 12:15 a.m. See below.] Amgen is cutting the list price of its new cholesterol-lowering drug by nearly 60 percent, a move the company says is intended to make the product more affordable for more patients. The move is a shot across the bow of Regeneron Pharmaceuticals (NASDAQ: [[ticker:REGN]]]). The Tarrytown, NY firm recently … Continue reading “Amgen Slashes Cholesterol Drug Price 60% to Match Rival Regeneron”
Ford Mobility News: Self-Driving Car Tests in DC, Avis App Deal
Ford made a couple of announcements this week regarding mobility and its efforts to get self-driving cars on the road. According to a blog post published Monday by Sherif Marakby, CEO of Ford’s autonomous vehicle division, the automaker will expand testing of driverless cars to Washington, DC. “Not only do self-driving vehicles need to operate … Continue reading “Ford Mobility News: Self-Driving Car Tests in DC, Avis App Deal”
Machine Learning Firm DataRobot Gets $100M to Automate Data Science
Boston startup DataRobot wrapped up a new $100 million funding round, injecting more cash into what was already one of the region’s biggest bets on machine learning and artificial intelligence. Palo Alto, CA-based venture firms Meritech and Sapphire Ventures led the Series D investment, with DFJ Growth, New Enterprise Associates, and IA Ventures also participating … Continue reading “Machine Learning Firm DataRobot Gets $100M to Automate Data Science”
Medisafe to Get Paid For Health App’s Performance
More technology startups are embracing the healthcare industry’s increasing willingness to pay for products based on how much they improve health. One of the latest examples comes from Medisafe, a Boston company that has developed an app-based system intended to help patients manage their medications. The company offers both a free and a paid version … Continue reading “Medisafe to Get Paid For Health App’s Performance”
Eyeing Foxconn, Manufacturing Gig Platform FactoryFix Expands in WI
Foxconn’s planned $10 billion electronic display factory in southeastern Wisconsin could be a boon for local workers vying for the potential 13,000 jobs. The facility could also be a headache for other area manufacturers, possibly sparking a heated competition for engineers, electricians, machinists, and other skilled laborers. The talent war could also spell opportunity for … Continue reading “Eyeing Foxconn, Manufacturing Gig Platform FactoryFix Expands in WI”
Sangamo Exec Gary Lee Joins Senti Bio as Chief Scientific Officer
Senti Biosciences has appointed Gary Lee to serve as chief scientific officer. Lee comes to the South San Francisco, CA, biotech from Sangamo Therapeutics (NASDAQ: [[ticker:SGMO]]), where he was vice president of cell therapy. Senti emerged in February with $53 million in Series A financing to support its cell therapy research.
AstraZeneca’s Kevin Horgan Joins Seres as Chief Medical Officer
Kevin Horgan has been appointed executive vice president and chief medical officer of Seres Therapeutics (NASDAQ: [[ticker:MCRB]]). Horgan succeeds Michele Trucksis, who will continue to consult for the Cambridge, MA, microbiome drugs developer. Seres gave no reason for Tucksis’s departure. In a securities filing, the company said that she gave notice of her resignation on Oct. 17 … Continue reading “AstraZeneca’s Kevin Horgan Joins Seres as Chief Medical Officer”
U-M Reports 2018 Rise in Inventions, Licensing, and Startups
Every fall, the University of Michigan formally celebrates the inventions and companies spun out of the school’s research and development efforts. This year, there was a lot to celebrate: according to U-M, a record number of 21 startups were launched during the 2018 fiscal year ending June 30, nearly doubling the previous year’s number. U-M … Continue reading “U-M Reports 2018 Rise in Inventions, Licensing, and Startups”
Blockchain Startup Algorand Bags $62M, Hires Fuze & LogMeIn Execs
[Updated 2/22/19, 2:14 pm ET. See below.] The blockchain and cryptocurrency industry has produced a lot of hype, but it is still working to deliver practical applications that are widely used by businesses. One of the startups trying to change that, Boston-based Algorand, said today it has scooped up $62 million in venture funding from … Continue reading “Blockchain Startup Algorand Bags $62M, Hires Fuze & LogMeIn Execs”
HerdX Adds $5M for IoT System To Help Farmers Track Livestock
San Antonio—A San Antonio tech startup that sells Internet-connected tags and other tools to monitor the health and whereabouts of herds of animals has raised $5 million in a new round of funding, according to a securities filing. HerdX says that farmers will be able to use the data gathered from the Internet-connected devices to … Continue reading “HerdX Adds $5M for IoT System To Help Farmers Track Livestock”
NeoGenomics Buys Ex-Novartis Cancer Lab Genoptix for $125M, Stock
Cancer testing laboratory Genoptix is being acquired by NeoGenomics, another cancer-focused genetic testing business, for $125 million in cash and 1 million NeoGenomics shares. The buyout comes almost two years after Carlsbad, CA-based Genoptix was bought from Novartis (NYSE: [[ticker:NVS]]) by a pair of private investment firms, Ampersand Capital Partners and 1315 Capital, and a … Continue reading “NeoGenomics Buys Ex-Novartis Cancer Lab Genoptix for $125M, Stock”
Baubles & Bling: Swoonery Uses Tech to Connect Shoppers With Jewelry
Jean Poh’s family has been in the jewelry business for four generations. And, for the most part, the industry has operated much the same as it always has, she says. Following a professional detour in which she worked as an attorney and angel investor, Poh made her way back to the jewelry business. She began … Continue reading “Baubles & Bling: Swoonery Uses Tech to Connect Shoppers With Jewelry”
Mirati Shares Fall On New Data For Lung Cancer Drug Combo
[Corrected 1:38 pm. See below.] Shares of San Diego-based Mirati Therapeutics fell 15 percent Monday as data from an ongoing mid-stage study of one of its experimental cancer drugs disappointed investors. Mirati (NASDAQ: [[ticker:MRTX]]) is one of several biotech companies trying to get in on the mix-and-match cancer immunotherapy game. Drugmakers have been combining immunotherapies … Continue reading “Mirati Shares Fall On New Data For Lung Cancer Drug Combo”
ESMO ’18: Precision Meds, Breast, Lung, and More from the Cancer Front
[Ben Fidler co-authored this report.] The European Society for Medical Oncology is wrapping up its annual conference today, replete with clinical data from cancer’s front lines. We’ve sorted the headlines into a few big categories: immunotherapy combinations, breast cancer, lung cancer, the growing class of drugs called PARP inhibitors, and new drugs that treat tumors … Continue reading “ESMO ’18: Precision Meds, Breast, Lung, and More from the Cancer Front”
PERQ Raises $5 Million to Advance Digital “Guided Shopping” Platform
Indianapolis-based digital marketing firm PERQ has received another injection of seed capital. The company announced last week that it secured $5 million in follow-on investments in a seed round initiated in 2016, for a total of $7.5 million raised, says co-founder and CEO Andy Medley. This latest chunk of capital comes from Elevate Ventures; Collina Ventures; … Continue reading “PERQ Raises $5 Million to Advance Digital “Guided Shopping” Platform”
With $90M Round, Stoke Eyes a “Spinraza For Epilepsy” And a 2019 IPO
Ed Kaye stepped aside from Sarepta Therapeutics (NASDAQ: [[ticker:SRPT]]) last year after leading the company through one of the most noteworthy and controversial drug approvals in recent memory, for the Duchenne muscular dystrophy drug eteplirsen (Exondys 51). But his hiatus from a publicly traded biotech could be short-lived. Kaye’s new startup, Bedford, MA-based Stoke Therapeutics, … Continue reading “With $90M Round, Stoke Eyes a “Spinraza For Epilepsy” And a 2019 IPO”
Why Technology Alone Won’t Fix Education
“Artificial intelligence will transform the education system.” “Immersive technology will reshape learning forever.” These are just some of the industry rumblings about how edtech will disrupt and ultimately “fix” what’s wrong with the education system in the United States. With back-to-school season in full swing, it’s imperative that we set the record straight. The truth … Continue reading “Why Technology Alone Won’t Fix Education”
Tech Industry Lobby Proposes Data Privacy Laws; Critics Call Them Weak
The tech industry, which reaps billions of dollars by harvesting personal data and using it to sell targeted advertising and other services, opened the door to federal data privacy regulations today in a proposal by ITI, a lobbying organization for tech companies. The Information Technology Industry Council, which represents the policy interests of companies including … Continue reading “Tech Industry Lobby Proposes Data Privacy Laws; Critics Call Them Weak”
European Business Services Company May Open U.S. HQ in San Antonio
San Antonio—A Czech Republic company called Okin Business Process Services is planning to establish its U.S. headquarters in San Antonio, TX, if it gets some unspecified incentives from the city and county governments that may be voted on next month. Okin has already been offered a $6.6 million grant from the Texas Enterprise Fund, an … Continue reading “European Business Services Company May Open U.S. HQ in San Antonio”
Centrexion Plans IPO to Bankroll Non-Opioid Pain Drugs
Centrexion Therapeutics is notable for focusing solely on developing non-opioid, non-addictive pain drugs—an area that biopharma companies have largely avoided. Now the Boston-based startup wants Wall Street’s help with the effort. Centrexion has outlined plans for an IPO. The company has set a preliminary IPO target of $86 million, though that figure is subject to … Continue reading “Centrexion Plans IPO to Bankroll Non-Opioid Pain Drugs”
Techstars, EdX, SoftBank Join X·CON 2018 Program, Nov. 4-6
Two weeks from today will mark a most special occasion. Xconomy is convening top business and tech leaders from Boston and beyond for a multi-day conference to tackle the most pressing questions in the innovation community. X·CON 2018 will feature talks and interactive discussions at the Institute of Contemporary Art; robotics demos and security and … Continue reading “Techstars, EdX, SoftBank Join X·CON 2018 Program, Nov. 4-6”
Roundup: OptimizeRx, Parabricks, URC, Startup Detroit, ACM and More
The weather is finally starting to cool—I’m a fan of fall —but Michigan’s tech startups and entrepreneurs are still red-hot: they’re raising money, buying competitors and complementary companies, launching new products, and more. Read on for recent news about the state’s innovation community. —Rochester’s OptimizeRx, a digital health company focused on facilitating digital communication between … Continue reading “Roundup: OptimizeRx, Parabricks, URC, Startup Detroit, ACM and More”
Google Launching Its Own Computer Science Courses on Campuses
Early next year, twenty students will have the opportunity to study machine learning for 10 weeks with Google engineers, college professors, and coaches—free of charge. Google is picking up the tab for tuition, room, and board for all students accepted into its new machine learning intensives in the inaugural year of the program, which starts … Continue reading “Google Launching Its Own Computer Science Courses on Campuses”
Qpex Biopharma Launches with $33M to Tackle Drug-Resistant Infections
The Medicines Company exited the infectious disease business last year when it sold three bacteria-fighting products to Melinta Therapeutics. But Melinta didn’t get all of the company’s bug-fighting drugs, and what’s left has become a new company—Qpex Biopharma. San Diego-based Qpex has raised $33 million to advance The Medicines Company’s (NASDAQ: [[ticker:MDCO]]) old preclinical compounds toward … Continue reading “Qpex Biopharma Launches with $33M to Tackle Drug-Resistant Infections”
Abeona Therapeutics Appoints João Siffert Chief Medical Officer
João Siffert has been appointed head of research and development and chief medical officer of Abeona Therapeutics (NASDAQ: [[ticker:ABEO]]). As a result of Siffert’s hire, former chief medical officer Juan Ruiz will become head of European medical affairs. Siffert’s experience includes executive roles at Nestle Health Science, Avanir Pharmaceuticals, Avera Pharmaceuticals. New York-based Abeona is … Continue reading “Abeona Therapeutics Appoints João Siffert Chief Medical Officer”
Former Gilead Exec Kitty Yale Named Akero Chief Development Officer
Kitty Yale has been appointed chief development officer of Akero Therapeutics. She joins Akero from Gilead Sciences, where she was vice president of clinical operations. Akero emerged earlier this year with $65 million in financing and an experimental drug for the liver disease nonalcoholic steatohepatisis (NASH) that was licensed from Amgen (NASDAQ: [[ticker:AMGN]]). The company, … Continue reading “Former Gilead Exec Kitty Yale Named Akero Chief Development Officer”
Invenra, Madison Firm Developing Therapeutic Antibodies, Adds $7.1M
Invenra, a Madison, WI-based startup that develops therapeutic antibodies for pharmaceutical companies and other clients, has raised more than $7.1 million from investors, according to a regulatory filing. Twenty-three investors participated in the equity funding round, according to the filing, which was made public earlier this week. Founded in 2011, Invenra has now raised more … Continue reading “Invenra, Madison Firm Developing Therapeutic Antibodies, Adds $7.1M”
Boston Tech Watch: IBM, DataXu, Accion, Yottaa, CoachUp & More
[Updated 10/19/18, 5:08 pm. See below.] Rumors of a Boston adtech sale, a top-level departure at IBM’s Watson Health business, more cash to boost A.I. startups, and Boeing backing a space propulsion company dominate the Boston-area’s tech headlines from the week. Read on for more. —Boston firm DataXu is working with a New York investment … Continue reading “Boston Tech Watch: IBM, DataXu, Accion, Yottaa, CoachUp & More”
Entrepreneurs Thinking Inside the Box
Hackathons usually involve thinking outside of the box. But for myself and four other MIT students, brainstorming, eating, and sleeping inside a 16-foot by 16-foot glass cube on campus for four days straight in mid-September proved just as effective at getting our creative juices flowing. The experience was part of InCube 2018, a global startup … Continue reading “Entrepreneurs Thinking Inside the Box”
TP Therapeutics Names New CEO, Gets $80M More for Cancer Drug Push
Five-year-old biotech TP Therapeutics has raised an $80 million mezzanine financing round and promoted its chief medical officer, Athena Countouriotis, to CEO. The San Diego-based biotech, which is developing targeted cancer drugs for people whose tumors resist other precision therapies, announced the changes Friday. TP Therapeutics is developing a drug called repotrectinib that targets a … Continue reading “TP Therapeutics Names New CEO, Gets $80M More for Cancer Drug Push”