Penrose Studios, which has been scoring film festival awards for its early productions in virtual reality and augmented reality, announced today it raised $10 million in a Series A fundraising round. Among the new investors backing the San Francisco studio are Salesforce founder and CEO Marc Benioff and technology advocate will.i.am, a Grammy award winner … Continue reading “Penrose Studios Raises $10M To Elevate AR/VR Storytelling”
EU Regulators Approve Akcea’s Inotersen. FDA Decisions Are Next.
Akcea Therapeutics (NASDAQ: [[ticker:AKCA]]) has beaten rival Alnylam Pharmaceuticals (NASDAQ: [[ticker:ALNY]]) to a first drug approval, getting the nod for its drug inotersen (Tegsedi) in the European Union. Akcea and Alnylam, both of Cambridge, MA, are developing treatments for the rare genetic disease transthyretin amyloidosis, or ATTR. It stems from a gene mutation that causes … Continue reading “EU Regulators Approve Akcea’s Inotersen. FDA Decisions Are Next.”
Otsuka Ramps Up Its Antibody Game with $430M Visterra Acquisition
Otsuka Pharmaceutical is expanding its pipeline and U.S. reach with an agreement to acquire Waltham, MA, clinical-stage drug developer Visterra for $430 million in cash. The deal, announced Wednesday, comes nine months after Visterra closed a $46.7 million Series C round to finance clinical development of its antibody drug programs. That financing followed Visterra’s attempt … Continue reading “Otsuka Ramps Up Its Antibody Game with $430M Visterra Acquisition”
Dough Pushes Transparency, Culture Change Amid Student Debt Crisis
Catalina Kaiyoorawongs knows from experience how dire the student debt crisis has gotten in the United States. She spent years addressing access to loans for fellow low-income and first-generation students in Florida as part of her advocacy work, calling financial aid offices on their behalf in an effort to sort out the details of their … Continue reading “Dough Pushes Transparency, Culture Change Amid Student Debt Crisis”
BrightStar, Gener8tor Nix Deal Promising Funds for Accelerator Grads
[Updated 7/11/18 11:02 a.m. See below.] Two Wisconsin-based organizations that invest in startups have done away with an arrangement they made four years ago that was aimed at getting early-stage companies to move to—or stay in—the state, and create jobs there. Since 2014, the BrightStar Wisconsin Foundation has guaranteed a $50,000 investment in each graduate … Continue reading “BrightStar, Gener8tor Nix Deal Promising Funds for Accelerator Grads”
Samsung, Google Back Tamr as Big Data Startups Try to Find Their Way
[Updated 7/11/18, 12:01 pm. See below.] Businesses have sunk a lot of money into software tools to analyze the reams of data they’re generating, in search of insights that might help them increase sales or cut costs. But analytics tools don’t work effectively unless the data can be easily retrieved from a company’s disparate systems … Continue reading “Samsung, Google Back Tamr as Big Data Startups Try to Find Their Way”
BioCryst Drops Idera Pharma Merger After Shareholders Veto Deal
BioCryst Pharmaceuticals is ending a plan to merge with Idera Pharmaceuticals and form a single company focused on rare diseases. Durham, NC-based BioCryst (NASDAQ: [[ticker:BCRX]]) terminated the merger agreement on Tuesday following a meeting that saw shareholders vote overwhelmingly against the proposal. Of the more than 80 million shares represented in the vote, 50.6 million … Continue reading “BioCryst Drops Idera Pharma Merger After Shareholders Veto Deal”
Former Celgene Exec Golumbeski Joins Grail as President
Grail has appointed George Golumbeski to serve as president of the Menlo Park, CA, cancer test developer. He has also joined Grail’s board of directors. Golumbeski was most recently executive vice president of business development at Celgene (NYSE: [[ticker:CELG]]). In May, Grail closed a $300 million Series C round of financing to continue its work … Continue reading “Former Celgene Exec Golumbeski Joins Grail as President”
Acceleron Pharma Appoints Robert Zeldin Chief Medical Officer
Robert Zeldin has been appointed chief medical officer of Cambridge, MA, drug developer Acceleron Pharma (NASDAQ: [[ticker:XLRN]]). Zeldin joins Acceleron from Belgium-based Ablynx, where he was chief medical officer. Zeldin’s appointment comes as Acceleron and partner Celgene (NASDAQ: [[ticker:CELG]]) prepare to file for FDA approval of the drug luspatercept. The companies have released positive results … Continue reading “Acceleron Pharma Appoints Robert Zeldin Chief Medical Officer”
Hype―and Skepticism―Remains for Dell’s Return to the Public Market
Austin—The possibility that Dell might return to the public markets has been talked about for months, if not longer. It became more realistic in February, when the Round Rock, TX-based company told securities regulators it was considering a public offering or a reverse merger with VMware, the publicly traded company of which Dell owns 81 … Continue reading “Hype―and Skepticism―Remains for Dell’s Return to the Public Market”
Toast Cooks Up $115M Round, Claims “Unicorn” Status
Restaurant technology startup Toast has pulled in $115 million in a Series D venture funding round that the company says gives it a valuation of $1.4 billion. That makes it Boston’s newest “unicorn”—a privately held company valued at more than $1 billion by its investors. Of course, that’s just what the company claims it’s worth … Continue reading “Toast Cooks Up $115M Round, Claims “Unicorn” Status”
Tango, Finch, Indigo & More: The 2018 Xconomy Award Startup Finalists
This year’s bumper crop of Xconomy Award startup finalists cover a wide range of technologies and approaches, from microbiome and gene therapy to regenerative medicine and emerging areas like chromatin biology. Some are early stage, some are already in the clinic and one even has products on the market. Here are brief profiles of the … Continue reading “Tango, Finch, Indigo & More: The 2018 Xconomy Award Startup Finalists”
Gregor Diagnostics Raises $900K to Develop New Prostate Cancer Test
Gregor Diagnostics has raised $900,000 from investors as part of a seed funding round that the Madison, WI-based startup says will support its efforts to develop a new, at-home screening test for prostate cancer that it hopes will offer a more precise alternative to the current testing standard for the disease. San Francisco-based First Round … Continue reading “Gregor Diagnostics Raises $900K to Develop New Prostate Cancer Test”
Scale Venture Partners Closes $400M Fund to Invest in Tech for the Enterprise
Scale Venture Partners announced today it has closed its sixth fund, gaining $400 million in new capital to invest in companies capable of transforming business operations through advanced technologies such as artificial intelligence and robotics. Foster City, CA-based ScaleVP focuses on startups developing Web-based software sold as a subscription to businesses. The VC firm enjoyed … Continue reading “Scale Venture Partners Closes $400M Fund to Invest in Tech for the Enterprise”
Echoing National Trend, TX Startups See More VC Dollars, Fewer Deals
San Antonio — More dollars, fewer deals. That’s been the trend in Texas, as well as for the nation as a whole. Venture capital firms have invested money in companies across the U.S. during 2018 at a level that is on pace to break the record-breaking total invested last year (the most since the dot-com era, … Continue reading “Echoing National Trend, TX Startups See More VC Dollars, Fewer Deals”
Venture Funding Keeps Momentum Amid IPO Wave; Plus Q2’s Top 10 Deals
[Updated 7/12/18, 9:24 am. See below.] Last year, U.S. venture capital investments swelled to a level not seen since the dot-com era of the early 2000s. This year could be even bigger. Investors funneled $57.5 billion into U.S. companies through the first six months of 2018, according to the latest Venture Monitor report produced quarterly … Continue reading “Venture Funding Keeps Momentum Amid IPO Wave; Plus Q2’s Top 10 Deals”
Acceleron, Celgene Drug Shines in Phase 3 Test in Rare Blood Disorder
A drug from Celgene and Acceleron Pharma has met the main goals of a late-stage test as a treatment for a rare blood disorder, the second set of positive results that the partners have released for the drug in as many weeks. The latest announcement covered use of the drug, luspatercept, as a treatment for … Continue reading “Acceleron, Celgene Drug Shines in Phase 3 Test in Rare Blood Disorder”
Derq Teaches Driverless Cars to Safely Navigate Busy Intersections
There are many technical challenges to overcome in the development of self-driving cars, but one of the toughest is predicting and preventing collisions with pedestrians and other objects that end up in the roadway. As urban cyclists know, there is a fair amount of intense eye contact that goes on between bikers and drivers as … Continue reading “Derq Teaches Driverless Cars to Safely Navigate Busy Intersections”
Nimbus Hires Adrian Ray, a 15-Year Gilead Veteran, as New SVP
Nimbus Therapeutics of Cambridge, MA, has hired Adrian Ray as senior vice president of discovery biology as it advances its immunology and oncology pipeline. Ray comes from Gilead Sciences (NASDAQ: [[ticker:GILD]]), where he spent 15 years, most recently as senior director of clinical research. Nimbus and Foster City, CA-based Gilead are familiar with each other. … Continue reading “Nimbus Hires Adrian Ray, a 15-Year Gilead Veteran, as New SVP”
CTI BioPharma’s Non-Hodgkin Lymphoma Drug Fails Study, Shares Sink
A CTI BioPharma treatment for a form of non-Hodgkin lymphoma has failed a clinical trial key for maintaining its approval in Europe, casting doubt on the drug’s prospects with the FDA. Seattle-based CTI (NASDAQ: [[ticker:CTIC]]) said Monday that its drug, pixantrone, failed to meet the goal of improving progression-free survival, which is the length of … Continue reading “CTI BioPharma’s Non-Hodgkin Lymphoma Drug Fails Study, Shares Sink”
From Robots to Owl Art, a Tour of Autodesk’s BUILD Space: Slideshow
As a tech journalist, most of the stories I write these days deal in algorithms, cloud computing, and other digital tools. When given the opportunity, it’s fun to explore new technologies and products you can actually see and touch. I recently escaped my desk to tour Autodesk’s offices in Boston’s Seaport neighborhood and check out … Continue reading “From Robots to Owl Art, a Tour of Autodesk’s BUILD Space: Slideshow”
Following Farm Deal With General Mills, Midwestern BioAg Nabs $15M
Midwestern BioAg, a Madison, WI-based maker and vendor of fertilizers, seed, and other biological products that it says can help farmers boost soil fertility, has raised more than $15 million in new equity funding from three investors, according to a document filed with federal securities regulators. The company works with farmers in Wisconsin and neighboring … Continue reading “Following Farm Deal With General Mills, Midwestern BioAg Nabs $15M”
Biogen, Eisai Claim Success in New Analysis of Failed Alzheimer’s Study
Biogen and Eisai are reporting encouraging data from a mid-stage study in Alzheimer’s disease, reviving hopes for a drug and an approach to treating the disease that many had declared a failure. The drug, BAN2401, had in fact failed in clinical studies. Last December, Biogen (NASDAQ: [[ticker:BIIB]]) and Eisai reported that the drug did not … Continue reading “Biogen, Eisai Claim Success in New Analysis of Failed Alzheimer’s Study”
Cosworth Prepares for Autonomous Future with New Michigan Factory
Huge changes are underway in the automotive industry as autonomous vehicles get closer to becoming reality, forcing manufacturers and suppliers to rethink their growth strategy. Cosworth, a 60-year-old company based in the United Kingdom that has historically made high-performance racing engines, is no exception, says CEO Hal Reisiger. Late last month, Cosworth unveiled its new … Continue reading “Cosworth Prepares for Autonomous Future with New Michigan Factory”
Down the Stretch: Akcea, Alnylam Face Reality Checks as FDA Dates Loom
More details from two drug programs up for approval this year to treat a rare genetic disease emerged yesterday, published in side-by-side papers in the New England Journal of Medicine. In one sense, the new papers hold no surprises, but they reinforce the similarities and differences between the closely watched drugs, one from Akcea Therapeutics … Continue reading “Down the Stretch: Akcea, Alnylam Face Reality Checks as FDA Dates Loom”
Bio Roundup: Dunsire’s Danish, Price Hikes, Rare-Disease Race & More
[Corrected, 7/6/18, 1:26 pm. See below.] Xconomy was dumbstruck this week, and not by the fireworks overhead. Our friend and one of our earliest employees, San Diego editor Bruce Bigelow, died suddenly last weekend. Bruce covered everything—and everyone—in San Diego’s innovation scene, including the life sciences. Some of our favorite stories of his sprang from … Continue reading “Bio Roundup: Dunsire’s Danish, Price Hikes, Rare-Disease Race & More”
Apparel Brands Keep Up with Amazon Using Smart Factory Floor Software
The fashion industry has always prided itself on being cutting-edge. With technologies like the Internet of Things and analytics, apparel brands are now able to pivot more easily and frequently as styles change. Apparel makers “scrub social media, bringing up styles based on what people are wearing,” says Paul Magel, president of application solutions and … Continue reading “Apparel Brands Keep Up with Amazon Using Smart Factory Floor Software”
Boston Scientific Continues M&A Streak with $202M Deal for Cryterion
Boston Scientific is adding on to its heart rhythm management business again, this time with a deal to acquire atrial fibrillation device startup Cryterion Medical for $202 million. The cash payment covers the 65 percent of Cryterion that the Marlborough, MA, medical device giant does not already own. Boston Scientific (NYSE: [[ticker:BSX]]) had been an … Continue reading “Boston Scientific Continues M&A Streak with $202M Deal for Cryterion”
The Empathy Economy: Emotional Intelligence in Customer Service
The “empathy economy” will help define the new reality of human and machine interactions in the customer service industry. A takeoff on the sharing economy, the empathy economy will grow due to brand mania and increased automation in the workplace. Consumers are inundated by brands in their day-to-day lives, and these brands sometimes create personal … Continue reading “The Empathy Economy: Emotional Intelligence in Customer Service”
PassageX, Listia Partner to Use Blockchain to Resell Tickets
Alex Linebrink is on a mission to cut out the middle man. Linebrink is the founder and CEO of Passage, a Detroit-based ticketing startup. The company’s bread and butter is servicing smaller, niche events, such as Halloween-themed tours, beer festivals, comedy shows, and minor league soccer. “Passage powers ticketing for specialty events,” Linebrink explains. “We … Continue reading “PassageX, Listia Partner to Use Blockchain to Resell Tickets”
Twist Bioscience Appoints Aaron Sato Chief Scientific Officer
Twist Bioscience has appointed Aaron Sato chief scientific officer of pharma, and vice president of protein engineering. Before joining the San Francisco-based company, Sato was chief scientific officer of LakePharma. In other moves, Jim Thorburn was named chief financial officer. Thorburn was most recently chief sales officer of Televerde. Twist makes synthetic DNA for companies … Continue reading “Twist Bioscience Appoints Aaron Sato Chief Scientific Officer”
Priority Changes for Novartis Spell the End for Aveo Pharma Alliance
When Aveo Pharmaceuticals found itself floundering three years ago in the wake of the FDA’s rejection of its lead cancer drug, Novartis threw out a lifeline: a partnership on another Aveo drug that would finance its development. Now Novartis is pulling that support away. Novartis (NYSE: [[ticker:NVS]]) is ending the partnership on the compound AV-380, … Continue reading “Priority Changes for Novartis Spell the End for Aveo Pharma Alliance”
Are You a SaaS Startup? Private Equity May Soon Be Coming For You
[Updated 3:16 p.m. See below.] More money than ever is flowing into software companies that offer anything from niche applications to more general cloud storage services, customer relationship tools, and more. So far this year, the amount of venture capital funding invested in these software-as-a-service (SaaS) businesses tops $12 billion, according to data compiled by … Continue reading “Are You a SaaS Startup? Private Equity May Soon Be Coming For You”
Sanofi’s Andre Turenne Is Slated to Become Voyager Therapeutics CEO
Voyager Therapeutics (NASDAQ: [[ticker:VYGR]]) has appointed Andre Turenne to serve as president and CEO of the Cambridge, MA-based gene therapy developer. Turenne will succeed Steven Paul, who is retiring but will remain on Voyager’s board of directors. Turenne comes to Voyager from Sanofi (NYSE: [[ticker:SNY]]), where he was most recently senior vice president, global head, … Continue reading “Sanofi’s Andre Turenne Is Slated to Become Voyager Therapeutics CEO”
Adicet Bio Appoints Stewart Abbot Chief Scientific Officer
Stewart Abbot has been appointed chief scientific officer of Adicet Bio. Before coming to the Menlo Park, CA-based company, Abbot was chief development officer at Fate Therapeutics (NASDAQ: [[ticker:FATE]]) in La Jolla, CA. Adicet launched in 2016 backed by a $51 million Series A round of financing to develop “off-the-shelf” immune cell therapies for cancer … Continue reading “Adicet Bio Appoints Stewart Abbot Chief Scientific Officer”
Metro Detroit Teachers Create App to Help Automate School Lockdowns
It seems that hardly a week goes by without news of yet another mass shooting in the United States. Since the threat of spontaneous gun violence doesn’t seem to be going away, innovators are looking for ways to protect themselves and loved ones from these shooters. That includes two Detroit-area teachers, Matt Ridenour and Josette … Continue reading “Metro Detroit Teachers Create App to Help Automate School Lockdowns”
Protected: testing for real
There is no excerpt because this is a protected post.
Automation Anywhere Scores $250M to Globalize Bot Workforce
Automation Anywhere, which supplies customers with armies of software robots to take over manual tasks such as insurance claims processing, announced today it raised $250 million in a first funding round that set its post-money valuation at $1.8 billion. The San Jose, CA-based company, begun in 2003 by four co-founders who bootstrapped its funding, has … Continue reading “Automation Anywhere Scores $250M to Globalize Bot Workforce”
In Celebration of Bruce Bigelow: Our Memories, His Playlist
[Updated, 7/5/18. See below] Bruce Victor Bigelow, editor of Xconomy San Diego, passed away Friday afternoon, June 29, at the age of 63. He had suddenly fallen ill less than a week earlier, after he returned to San Diego from a hiking trip in Utah. Our initial post about Bruce’s death is here. And the … Continue reading “In Celebration of Bruce Bigelow: Our Memories, His Playlist”
Fresh Off Launch of First Test, TAI Diagnostics Adds Funding
As TAI Diagnostics presses forward on commercialization of its first product, a test for organ rejection in heart transplant patients, the Wauwatosa, WI-based startup recently revealed additional funding to support development of more tests. TAI Diagnostics is developing a series of non-invasive tests to monitor the health of transplant recipients. The company’s name stands for … Continue reading “Fresh Off Launch of First Test, TAI Diagnostics Adds Funding”
Lundbeck Reaches Across Atlantic, Picks Dunsire for CEO Post
Deborah Dunsire, a veteran of Boston’s biotech scene, is taking off. Specifically, she’s taking the top job at Danish pharma firm Lundbeck, according to an announcement this morning. The move comes only a year after Dunsire said she would lead 30-employee XTuit Pharmaceuticals of Waltham, MA, a preclinical cancer company. At the time, she told … Continue reading “Lundbeck Reaches Across Atlantic, Picks Dunsire for CEO Post”
American Well Raises $290M+ to Go Bigger in Telehealth
American Well appears to be raising a massive venture capital investment. The Boston-based telehealth company disclosed in a new SEC filing that it has pulled in $290.6 million in a new funding round that could reach almost $315 million. A company spokeswoman declined to comment. Regardless of how large the latest investment in American Well … Continue reading “American Well Raises $290M+ to Go Bigger in Telehealth”
Virtual Physical Therapy Firms Reflexion and MindMaze Probe Markets
For most patients—and for many drug developers—healthcare reimbursement policies can present a daunting maze of restrictions and uncertainties. But for some tech companies, those policies can be accelerants that boost the chances that new products will be adopted. That’s the case for Reflexion Health, which benefits from U.S. insurance coverage regulations that create openings for … Continue reading “Virtual Physical Therapy Firms Reflexion and MindMaze Probe Markets”
Cyber Trend: Hackers Love to Steal Data; Now They Might Weaponize It
For years, cyber attackers’ primary aim has been to pilfer sensitive information from businesses and individuals, either to sell it in the dark corners of the Internet, hold it for ransom, or use it themselves for material gain. More recently, efforts to connect all manner of machines to the Internet has led to growing worries … Continue reading “Cyber Trend: Hackers Love to Steal Data; Now They Might Weaponize It”
The Art of Perseverance: Meet Xconomy’s Six CEO Award Finalists
The Xconomy Awards are back, and today we’re kicking things off by taking a look at our first set of finalists—the top Boston biotech CEOs nominated by you, the readers. We’ve gone through all the nominations and come up with six finalists. Some of these CEOs have withstood years of ups and downs to take … Continue reading “The Art of Perseverance: Meet Xconomy’s Six CEO Award Finalists”
Study: Blood Test for Prostate Cancer Can Guide Therapy, Extend Lives
Blood tests for cancer, known as liquid biopsies, have become available in recent years to guide treatments for people already diagnosed. But how useful are they? A paper published last week in the journal JAMA Oncology makes the case that one such test, Oncotype DX AR-V7 Nucleus Detect, might be worth its $3,980 price tag. … Continue reading “Study: Blood Test for Prostate Cancer Can Guide Therapy, Extend Lives”
Xconomy Mourns the Loss of San Diego Editor Bruce Bigelow
[Updated, 7/5/18. See below] It is with profound sadness that we at Xconomy say goodbye to our longtime friend and editor of Xconomy San Diego, Bruce Bigelow. An outstanding journalist, colleague, and friend, and a fixture of the San Diego innovation scene, Bruce passed away today at age 63 after a brief illness. We are … Continue reading “Xconomy Mourns the Loss of San Diego Editor Bruce Bigelow”
Nanotech Liquidia Hops IPO Wave as Lead Drug Faces Late-Stage Test
Liquidia Technologies focuses on the small. Its method of producing nano-scale particles improves how a drug reaches its target in the body. Now the clinical-stage biopharmaceutical company is aiming for something big: an IPO to finance tests of a pair of drugs that use this drug delivery technology. Research Triangle Park, NC-based Liquidia filed the … Continue reading “Nanotech Liquidia Hops IPO Wave as Lead Drug Faces Late-Stage Test”
SimpliSafe Sold to Private Equity Firm as Home Security Heats Up
[Updated 6/29/18, 3:38 pm. See below.] More deal-making in home security today: SimpliSafe has sold a majority stake in the company to private equity firm Hellman & Friedman. Terms of the deal weren’t disclosed in a press release. A spokeswoman says Hellman & Friedman “made a majority investment alongside” SimpliSafe management. Founded in 2006, SimpliSafe … Continue reading “SimpliSafe Sold to Private Equity Firm as Home Security Heats Up”
Best Reads for Casual Friday: Cybersecurity (And Some Amazon, Too)
You’ve made it to Friday—it’s time to take a step back, prepare for a relaxing weekend, and read a few stories about the endless ways in which your personal information can be stolen. OK, maybe it’s better to spin it like this: Here are some of the most interesting reads from this last week on … Continue reading “Best Reads for Casual Friday: Cybersecurity (And Some Amazon, Too)”