[Update, 8/3/18, 8:29 a.m., see below.] Between July 2017 and July 2018, the University of Notre Dame launched 27 student and faculty startups, which is an accomplishment on its own. But when you consider that before 2017, the school had previously launched a total of 33 startups over the course of its entire 175-year history, … Continue reading “Startup Jesus: Notre Dame Launched a Record 27 New Companies in 2017”
DocuSign Agrees to Acquire Chicago Software Maker SpringCM for $220M
DocuSign plans to acquire Chicago-based contract software maker SpringCM for $220 million, the companies announced today, about three months after the San Francisco-based online document signature business raised $629 million in an initial public offering. With SpringCM, DocuSign (NASDAQ: [[ticker:DOCU]]) says it is adding new features to its current capabilities, such as preparing and generating … Continue reading “DocuSign Agrees to Acquire Chicago Software Maker SpringCM for $220M”
DreamBox, an Edtech Startup with High-Profile Backers, Snags $130M
[Updated 5:35 p.m. See below.] DreamBox Learning, an edtech company that makes programs that help kids learn math, has agreed to take a $130 million investment from a fund managed by private equity firm TPG Growth. The Rise Fund, which is deploying $2 billion in financing raised by TPG last year, is taking a majority … Continue reading “DreamBox, an Edtech Startup with High-Profile Backers, Snags $130M”
Verana Health Lands $30M Financing Led By GV, Adds Miki Kapoor as CEO
Verana Health, a company that analyzes electronic health record data for insights useful in developing new drugs and medical devices, has raised $30 million in financing. GV, the venture arm of Google’s parent company, Alphabet (NASDAQ: [[ticker:GOOGL]]), led the Series C round of investment in the San Francisco company. Verana was formerly known as DigiSight. … Continue reading “Verana Health Lands $30M Financing Led By GV, Adds Miki Kapoor as CEO”
San Antonio Military Researchers to Receive Life Science Group Award
San Antonio — Two former military healthcare researchers in San Antonio will receive awards for their work from a life sciences group that promotes the local industry. Alan Peterson, who is developing methods of preventing, detecting, and treating post-traumatic stress disorder (PTSD), is receiving the BioMed SA Award for Innovation in Healthcare and Bioscience. BioMed SA … Continue reading “San Antonio Military Researchers to Receive Life Science Group Award”
Orphan Tech’s Patrick Horn Joins Albireo as Chief Medical Officer
Albireo Pharma (NASDAQ: [[ticker:ALBO]]) has appointed Patrick Horn to serve as chief medical officer. He will succeed Paresh Soni, who is stepping down from the Boston company but will continue to serve as a consultant. Horn was most recently senior vice president, medical and clinical development at Switzerland-based Orphan Technologies. Albireo develops drugs to treat … Continue reading “Orphan Tech’s Patrick Horn Joins Albireo as Chief Medical Officer”
Neurana Pharmaceuticals Names Craig Thompson President & CEO
Craig Thompson has joined Neurana Pharmaceuticals as president and CEO. Prior to starting at the San Diego company, Thompson was president and CEO of Anthera Pharmaceuticals in Hayward, CA. Neurana develops drugs that treat neuromuscular conditions. In May, the company closed a $60 million Series A round of funding to finance Phase 2 studies testing … Continue reading “Neurana Pharmaceuticals Names Craig Thompson President & CEO”
For Women Only: E-Retail Subscription Firm Athena Club Raises $3.8M
[Updated 7/31/18 7:46 am. The story and headline has been changed to reflect an updated amount.] Athena Club, a subscription program for feminine hygiene products, is the latest entrant into the direct-to-women e-commerce space and announced today that it has raised $3.8 million in funding. Co-founder Maria Markina says her New York-based startup gives women … Continue reading “For Women Only: E-Retail Subscription Firm Athena Club Raises $3.8M”
Pernix-Backed Biz Picks Up Orexigen’s Weight Loss Drug for $74M
Orexigen Therapeutics went bankrupt trying to turn its weight loss pill, Contrave, into a commercial success. Now Pernix Therapeutics will try its luck. Pernix (NASDAQ: [[ticker:PTX]]) said Monday that a business entity it helped create, Nalpropion Pharmaceuticals, has closed a deal for Contrave. Morristown, NJ-based Pernix formed Nalpropion to bid on Contrave, which Orexigen auctioned … Continue reading “Pernix-Backed Biz Picks Up Orexigen’s Weight Loss Drug for $74M”
Sam’s Club, Sunroom, and Funds for Revtech and Kony in TX Tech News
Let’s get caught up with the latest innovation news from Xconomy Texas. —Sam’s Club, the bulk retailer owned by Walmart (NYSE: [[ticker:WMT]]), has brought on about 100 tech employees to work at a new office in Dallas, according to The Dallas Morning News. The newspaper reported that the new office is working on a new … Continue reading “Sam’s Club, Sunroom, and Funds for Revtech and Kony in TX Tech News”
Precision Tinkering of Cells, Genes & Microbes: The Big Idea Finalists
Biology research has gotten so precise these days that scientists barely bat an eye when they talk about their ability to study the genome of individual cells or swap out single “letters” in DNA. So it’s probably no surprise that ultra-precise ways of measuring and manipulating cells, molecules and microbes have found their way into … Continue reading “Precision Tinkering of Cells, Genes & Microbes: The Big Idea Finalists”
Ideawake’s Collaboration Tools Help Companies Identify, Solve Issues
In 1974, Arthur Fry, then a scientist at 3M, heard about a new type of glue his colleague Spencer Silver was developing. The adhesive was strong enough to make two things stick together, but weak enough for them to be easily pulled apart. As the story goes, Fry had been using small paper scraps to … Continue reading “Ideawake’s Collaboration Tools Help Companies Identify, Solve Issues”
Fiserv, Comply365, Open Data & More: This Week’s Wisconsin Watchlist
Stay current on news from Wisconsin’s innovation community with these recent headlines: —Fiserv Forum: That’s the newly unveiled name of the arena the NBA’s Milwaukee Bucks will play at when the league’s season begins in September. The arena’s namesake is Fiserv (NYSE: [[ticker:FISV]]), a company headquartered in the Milwaukee suburb of Brookfield that provides banks, … Continue reading “Fiserv, Comply365, Open Data & More: This Week’s Wisconsin Watchlist”
Amgen Executives Sean Harper, Anthony Hooper Set to Retire
Sean Harper, executive vice president of research and development at Amgen (NASDAQ: [[ticker:AMGN]]), is retiring in order to pursue work in the early-stage biotech community. The Thousand Oaks, CA, drug maker promoted David Reese, senior vice president of translational sciences and oncology, to Harper’s former role. Harper will stay with the company for an unspecified … Continue reading “Amgen Executives Sean Harper, Anthony Hooper Set to Retire”
Achaogen R&D Head Hillan, Two Other Execs to Depart in Restructuring
Kenneth Hillan, president of research and development for antibiotics developer Achaogen (NASDAQ: [[ticker:AKAO]]), is one of three executives leaving the company as part of a corporate restructuring that is reducing headcount by 28 percent. South San Francisco, CA-based Achaogen announced the changes in advance of the company’s launch of plazomicin (Zemdri), a treatment for complicated … Continue reading “Achaogen R&D Head Hillan, Two Other Execs to Depart in Restructuring”
10 Must-Read Stories From Xconomy (and Elsewhere) This Week
Ah, Friday: The gateway to a relaxing weekend. If you’re reading this, it’s likely you’re starting your Friday off the right way with some casual reading. Here’s a peek at some of the fine work Xconomy editors have put out in the last week—and a few from other publications, too, that are very interesting reads. … Continue reading “10 Must-Read Stories From Xconomy (and Elsewhere) This Week”
Bio Roundup: An Alzheimer’s Head-Scratcher, OUTBio, GSK & Gilead Shakeups
The devil is in the details, and key clinical trial results made that abundantly clear this week. Eisai and partner Biogen released the highly anticipated details of an Alzheimer’s disease study they had already deemed positive, after an initial failure. In one sense, the study was the success they have claimed. A high dose of … Continue reading “Bio Roundup: An Alzheimer’s Head-Scratcher, OUTBio, GSK & Gilead Shakeups “
As Work Evolves, Kelly Services Funds Startups to Tap New Ideas
Many so-called legacy companies are hungry for new sources of innovation as technological advances transform their industries. One way corporations are drawing new ideas into the fold is through the establishment of venture investing arms. Troy, MI-based Kelly Services, which was founded in 1946, has contributed to the growth of the temporary worker industry over … Continue reading “As Work Evolves, Kelly Services Funds Startups to Tap New Ideas”
Boston Tech Watch: SessionM, Salesforce, Facebook, Squadle & More
It’s time to catch up on a flurry of recent Boston-area tech headlines: —SessionM, a seller of marketing automation and customer loyalty software, said it grabbed $23.8 million in venture funding from previous backers. The round was led by Salesforce Ventures, with contributions from Causeway Media Partners, CRV, General Atlantic, Highland Capital Partners, and Kleiner … Continue reading “Boston Tech Watch: SessionM, Salesforce, Facebook, Squadle & More”
Achaogen Restructures, Slashes Staff 28% as Antibiotic Launches
[Story updated 7/27/18, 7:07 p.m. EDT. See below.] The runup to a new drug launch is usually a time for hiring, but as Achaogen commercializes its new drug, the antibiotics developer is doing just the opposite. Faced with a tough market for antibacterial products, Achaogen (NASDAQ: [[ticker:AKAO]]) announced Thursday that it will eliminate 80 positions, … Continue reading “Achaogen Restructures, Slashes Staff 28% as Antibiotic Launches”
Flywire Tracks Down $100M as Global Payments Race Heats Up
Investors continue to cut big checks to global payments startups. The latest to cash in is Flywire, which announced Thursday it raised a $100 million Series D funding round led by Singapore-based Temasek. Flywire has now hauled in a total of $144 million from investors, a spokeswoman said. Other investors in the Series D round … Continue reading “Flywire Tracks Down $100M as Global Payments Race Heats Up”
With $76M Second Fund, Root Ventures Investing in Hardware, Automation
Startups often struggle to attract their first funding from venture capital firms. But some of those VC firms are startups themselves, hoping to draw investors willing to trust their judgment so they can back young companies that take off. Avidan Ross, a former industrial robot designer and financial firm CTO, was the solo founder of … Continue reading “With $76M Second Fund, Root Ventures Investing in Hardware, Automation”
Gilead Sciences CEO Milligan to Depart for “New Opportunities”
John Milligan will step down as president and CEO of Gilead Sciences (NASDAQ: [[ticker:GILD]]) at the end of the year, the Foster City, CA company announced Wednesday. Milligan’s departure will end a 28-year career with the company. In a prepared statement, Milligan said he would move on to “new and different opportunities.” Milligan will also … Continue reading “Gilead Sciences CEO Milligan to Depart for “New Opportunities””
Vertex Exec Saltarelli Joins Syntimmune as Chief Medical Officer
Mario Saltarelli has been appointed chief medical officer of Boston-based Syntimmune. Saltarelli comes to Syntimmune from Vertex (NASDAQ: [[ticker:VRTX]]), where he was senior vice president of early development and neurology. Donald Johns, who has been acting chief medical officer of Syntimmune, will now become executive vice president of medical and scientific affairs. Syntimmune is developing … Continue reading “Vertex Exec Saltarelli Joins Syntimmune as Chief Medical Officer”
Qualcomm’s Ends Two-Year, $44B Bid for NXP After No Word from China
Qualcomm finally ended its almost two-year bid to acquire Dutch semiconductor maker NXP for as much as $44 billion last night, after it didn’t receive word from Chinese regulators about whether the deal, which was subject to global regulations, would gain approval. Instead, San Diego-based Qualcomm said it plans to repurchase $30 billion of shareholder … Continue reading “Qualcomm’s Ends Two-Year, $44B Bid for NXP After No Word from China”
Former Zulily Employees Announce Digital Ad Platform New Engen
A group of Seattle entrepreneurs, who worked at flash sale site Zulily before it sold for $2.4 billion in 2015, are announcing a new company that has been developing a technology to help advertisers figure out where to efficiently buy digital ads. Called New Engen, the company was founded in 2016 by CEO David Atchison … Continue reading “Former Zulily Employees Announce Digital Ad Platform New Engen”
OUTBio, a Biopharma LGBTQ Group, Grows Fast & Ponders Its Future
In June, Jennifer Petter, the founder and chief scientific officer of biotech startup Arrakis Therapeutics, got an e-mail from a stranger. His name was Ramsey Johnson, a biotech veteran who works in clinical operations at Boston startup Phoenix Tissue Repair. Johnson was writing about OUTBio, a networking organization for LGBTQ members of the biopharma community. … Continue reading “OUTBio, a Biopharma LGBTQ Group, Grows Fast & Ponders Its Future”
Eisai & Biogen Reveal Promising Alzheimer’s Data, But Questions Linger
Data from six additional months of treatment with an experimental drug for Alzheimer’s disease were enough to turn a failed mid-stage clinical trial into a possible success. On Wednesday, the Japanese pharmaceutical company Eisai and its U.S.-based partner, Biogen, explained how, providing details that point to ways that their drug, unlike many before it, might … Continue reading “Eisai & Biogen Reveal Promising Alzheimer’s Data, But Questions Linger”
VelocityTX, EPIcenter Complete First San Antonio Pre-Incubator Group
San Antonio—[Corrected 7/26/18, 2:06 p.m. See below.] A “pre-incubator” program launched earlier this year by two organizations seeking to stimulate startup activity in San Antonio has graduated its first group of companies. The program aims to help the early stage businesses test out the viability of their ideas for new products and services, and determine … Continue reading “VelocityTX, EPIcenter Complete First San Antonio Pre-Incubator Group”
LevelUp’s Winding Path Pays Off With $390M Sale to Grubhub
LevelUp is the latest startup story to end in an acquisition. The company has gone through several transformations since it was founded a decade ago, eventually landing on mobile payments processing, customer loyalty programs, and data analytics tools for restaurants. Its journey ultimately led to Grubhub: the online food-ordering and delivery giant announced Wednesday it … Continue reading “LevelUp’s Winding Path Pays Off With $390M Sale to Grubhub”
Moonrise, New Service for Gig Workers, Shares Chicago Pilot Results
[Updated 7/27/18 9:44 a.m. See below.] American Family Insurance on Wednesday made public new details on Moonrise, a startup spun out by the insurer that has developed technology allowing people looking to make extra money to sign up for shifts at businesses near where they live. This year, Moonrise has been conducting a pilot of … Continue reading “Moonrise, New Service for Gig Workers, Shares Chicago Pilot Results”
Ford’s AV Update, GM’s Peer-to-Peer Ridesharing, & More Auto News
The “Big Three” Detroit-area automakers have all been making headlines this week. Ford shared more details on its autonomous vehicle division, GM announced a peer-to-peer ridesharing program, and the automotive world lost a key figure who’s been credited with saving Chrysler after the Great Recession. Read on for more details. —Sergio Marchionne, former CEO of … Continue reading “Ford’s AV Update, GM’s Peer-to-Peer Ridesharing, & More Auto News”
Soil Health Startup Cool Planet Adds $20M for New Manufacturing Site
Cool Planet, an agricultural technology startup focused on improving the quality of soil, has raised an additional $20.3 million to finance construction of a manufacturing facility. Greenwood Village, CO-based Cool Planet said the new capital is an extension of the company’s 2017 $19.3 million Series A round of investment. The latest capital infusion was led … Continue reading “Soil Health Startup Cool Planet Adds $20M for New Manufacturing Site”
ResTORbio Shares Soar on Clinical Data From Lung Infection Drug
Shares of Boston-based resTORbio (NASDAQ: [[ticker:TORC]]) have nearly doubled to roughly $16 apiece, based on positive results the company released this morning from a Phase 2b trial of its drug for respiratory tract infections. The drug, RTB101, is a pill that blocks an enzyme called TORC1. The company says the drug works by boosting immune … Continue reading “ResTORbio Shares Soar on Clinical Data From Lung Infection Drug”
Alector Snags $133M to Activate Immune Cells Against Neurodegeneration
Pharmaceutical companies have been working for years to find a drug that could break up the toxic clusters of proteins associated with Alzheimer’s disease and other neurodegenerative disorders. Many of those companies have suffered disappointing failures by targeting those clusters head-on. Now a Bay Area biotechnology company, Alector, is ready to try tackling the problem … Continue reading “Alector Snags $133M to Activate Immune Cells Against Neurodegeneration”
FDA Approves NorthStar Medical to Make Isotope Generator at WI Plant
A Wisconsin company seeking to become the first domestic producer in decades of a crucial medical isotope said Tuesday that it received another key approval from the FDA. NorthStar Medical Radioisotopes said the agency approved a still-to-be-built facility at the company’s Beloit, WI, headquarters to manufacture a device that could be key to supplying a … Continue reading “FDA Approves NorthStar Medical to Make Isotope Generator at WI Plant”
Nabriva Bolsters Antibiotics Pipeline with Zavante Acquisition
Nabriva Therapeutics has acquired Zavante Therapeutics in a stock deal that brings to the antibiotics developer an FDA-ready drug. Under the deal terms announced after the market close Tuesday, San Diego-based Zavante received an upfront payment of 8.2 million Nabriva (NASDAQ: [[ticker:NBRV]]) shares. Nabriva, which splits its operations between Ireland and King of Prussia, PA, … Continue reading “Nabriva Bolsters Antibiotics Pipeline with Zavante Acquisition”
Austin’s ScaleFactor Gets $10M for Small Business Financial Software
Austin—ScaleFactor, a company that sells machine learning-based financial and bookkeeping software to small- and medium-sized businesses, has snagged a $10 million Series A funding in a round that was led by Canaan Partners. ScaleFactor plans to use the funding for marketing, business development, and to further develop its product. The company participated in the Austin … Continue reading “Austin’s ScaleFactor Gets $10M for Small Business Financial Software”
SnappyScreen’s Booths Protect People While They Have Fun in the Sun
Applying sunscreen while outdoors is a long-accepted way to help keep our skin safe from sunburn and cancer. Yet the Centers for Disease Control and Prevention says less than a third of women, and even fewer men, report using it when going outside for more than an hour. “You should put it on more frequently … Continue reading “SnappyScreen’s Booths Protect People While They Have Fun in the Sun”
Kenzie Academy Snags $4.2M, Expands Tech Training in Middle America
As the cost of a college education creeps higher and the student debt crisis grows more pressing, there are lots of people brainstorming and developing educational programs that offer an alternative to college. This is especially true in the tech sector, where numerous code schools and bootcamps have popped up in an effort to teach … Continue reading “Kenzie Academy Snags $4.2M, Expands Tech Training in Middle America”
Seattle Startups Land Cash for Machine Learning & Self-Storage Techs
New funding for startups continues to flow—this week it’s early stage Seattle tech companies that are grabbing money, including a machine learning business and a service that picks up and stores your extra junk. DefinedCrowd, which participated in the Microsoft Accelerator in 2016 before it raised a $1.1 million seed round, gathers data points from … Continue reading “Seattle Startups Land Cash for Machine Learning & Self-Storage Techs”
Qlik Buys Podium Data as Big Data Deal-Making Continues
Big software companies continue to shop for data management and analytics startups. The latest deal is Qlik’s acquisition of Podium Data, announced Tuesday morning. The price was not disclosed. Four-year-old Podium sells software that helps large enterprises manage and prepare data for analysis, focusing on data quality and security. Business analysts and data scientists use … Continue reading “Qlik Buys Podium Data as Big Data Deal-Making Continues”
Nancy Hopkins Named Xconomy’s 2018 Lifetime Achievement Award Winner
We at Xconomy are excited to announce that we are honoring Nancy Hopkins, professor emerita at MIT, with our 2018 Lifetime Achievement Award. The award recognizes Hopkins’s career in genetics and cancer biology research, as well as her groundbreaking work advocating for women in science that sparked change and inspired many in both academia and industry. She … Continue reading “Nancy Hopkins Named Xconomy’s 2018 Lifetime Achievement Award Winner”
Announcing XCON 2018: A Conference on Technology and Transformation
This fall, we are convening exemplary business leaders, investors, and far-seeing technologists for an in-depth exploration of the innovation ecosystem and its impact on the future. Come join us at our newest interactive conference, XCON: The Xconomy Conference on Technology and Transformation. It spans three days, November 4-6, and three innovation venues in the Boston … Continue reading “Announcing XCON 2018: A Conference on Technology and Transformation”
Retailers Need to Get Real About Security
It seems a distant memory now. In December 2013 – light years ago in technology time – the retail giant Target disclosed a massive software security breach of its point of sale systems. The bad guys fled the virtual premises with the credit card information of 40 million customers. This astounding number would later rise … Continue reading “Retailers Need to Get Real About Security”
Bristol-Myers Squibb Executive Murdo Gordon Set to Depart
Murdo Gordon, chief commercial officer of Bristol-Myers Squibb (NYSE: [[ticker:BMY]]), is leaving. The New York-based pharmaceutical giant announced Monday that Gordon would depart on Aug. 3 “to pursue another opportunity.” No other details were given. According to a securities filing, Gordon notified the company of his plans on July 17. Before starting as Bristol’s chief … Continue reading “Bristol-Myers Squibb Executive Murdo Gordon Set to Depart”
Crinetics Pharma Appoints Alan Krasner Chief Medical Officer
Alan Krasner has joined Crinetics Pharmaceuticals (NASDAQ: [[ticker:CRNX]]) as chief medical officer. Krasner comes to the San Diego biotech from Shire (NASDAQ: [[ticker:SHPG]]), where he was a senior medical director. His experience also includes posts at Biodel and Pfizer (NYSE: [[ticker:PFE]]). Crinetics develops treatments for rare endocrine diseases and endocrine-related tumors.
Sanofi Backs Click Therapeutics as Digital Medicines Gain Momentum
Drug makers are making more bets on the nascent field of digital medicine. The latest example: Click Therapeutics announced Monday that it grabbed a $17 million investment led by Sanofi Ventures, the Cambridge, MA-based venture capital arm of the French pharmaceutical giant. New York-based Click Therapeutics develops mobile apps intended to be prescribed by doctors … Continue reading “Sanofi Backs Click Therapeutics as Digital Medicines Gain Momentum”
Goldman Sachs Leads $37M Investment in Cogito’s A.I. for Call Centers
Cogito, one of the startups working to enhance businesses’ call center operations with sophisticated analytics software, has scooped up $37 million from investors to try and take its business to the next level. The Series C funding round was led by Goldman Sachs’s growth equity fund, with earlier Cogito backers Salesforce Ventures and OpenView Venture … Continue reading “Goldman Sachs Leads $37M Investment in Cogito’s A.I. for Call Centers”
Empatica, Kyruus, Pear & More: Digital Trailblazer Award Finalists
Healthcare is seeing an explosion in the use of data analytics, machine learning tools, wearable devices, mobile apps, and other digital technologies. Software products are not only augmenting the capabilities of doctors—in some cases, the digital product is itself being prescribed as a treatment. In recognition of the growing impact of such technologies in healthcare, … Continue reading “Empatica, Kyruus, Pear & More: Digital Trailblazer Award Finalists”