[Updated 6/29/18, 9:55 am. See below.] Time to catch up on recent news from the Boston-area tech scene: —Monotony.ai, a stealthy new startup based in Watertown, MA, has raised $2.65 million from investors, according to an SEC filing. The company’s website doesn’t offer any clues about what it’s working on, but the new venture is … Continue reading “Shell Backs Openbay, Ex-Nest Exec’s New Startup & More Boston Deals”
Bio Roundup: Big Bucks For Calico, Data Dumps & The IPO Wave Rolls On
If you’re running a privately held biotech, the time to go public is now. Clinical data already in hand or not, biotechs have charged to Wall Street at a record pace over the past two weeks, raising more than $1 billion in offerings that all met or exceeded their projected valuations. And there are no … Continue reading “Bio Roundup: Big Bucks For Calico, Data Dumps & The IPO Wave Rolls On”
Assembler Labs Aims to Get Detroit Entrepreneurs Out of Their Shells
Ian Sefferman is bullish on the Midwest, particularly Detroit. A native of the area, Sefferman started a Seattle-based app marketing company called MobileDevHQ that was acquired by TUNE in 2014. While Sefferman was deciding what to do next, he moved back to Detroit last year to be closer to family and learn more about the … Continue reading “Assembler Labs Aims to Get Detroit Entrepreneurs Out of Their Shells”
Acceleron’s Blood Drug Hits Phase 3 Goals, Paves Way for FDA Filing
An experimental Acceleron drug for a blood disorder has hit the main goals of a pivotal study, and the company and partner Celgene say they now plan to file for FDA approval next year. The Acceleron (NASDAQ: [[ticker:XLRN]]) drug, luspatercept, is being tested as a treatment for myelodysplastic syndrome (MDS), a type of cancer characterized … Continue reading “Acceleron’s Blood Drug Hits Phase 3 Goals, Paves Way for FDA Filing”
Foxconn, Data Science, Roche & More: This Week’s Wisconsin Watchlist
The collective eyes of Wisconsin’s business and technology communities are focused on a groundbreaking ceremony that Foxconn, a Taiwan-based electronics manufacturing giant, plans to hold Thursday at the site of its future electronic display production facility in the state’s southeastern corner. President Donald Trump and other big-name politicians like House Speaker Paul Ryan and Wisconsin … Continue reading “Foxconn, Data Science, Roche & More: This Week’s Wisconsin Watchlist”
The Key to A Clean Energy Economy? Incubators, Deals, & Attention
San Antonio—[Updated 6/29/18, 1:52 p.m. See below.] Businesses and individual consumers are increasingly tapping into solar, wind, and other renewable energy sources, in part thanks to the scientists and engineers who are developing new and more efficient ways of utilizing these energy sources. Renewables accounted for about 11 percent of overall energy consumption in the … Continue reading “The Key to A Clean Energy Economy? Incubators, Deals, & Attention”
SutroVax’s Alan Kimura Joins Enzyvant as Chief Medical Officer
Alan Kimura has been appointed chief medical officer of Cambridge, MA-based Enzyvant. Before joining Enzyvant, Kimura was chief medical officer of Foster City, CA-based SutroVax. His experience also includes posts at Shire (NASDAQ:[[ticker:SHPG]]), Novartis Vaccines, and Translate Bio (NASDAQ: [[ticker:TBIO]]). Enzyvant is the rare disease subsidiary of Switzerland-based Roivant Sciences. The company is preparing to … Continue reading “SutroVax’s Alan Kimura Joins Enzyvant as Chief Medical Officer”
Deciphera Pharma Appoints Stephen Ruddy Chief Technical Officer
Stephen Ruddy has been appointed chief technical officer of Waltham, MA-based Deciphera Pharmaceuticals (NASDAQ: [[ticker:DCPH]]). Before joining Deciphera, Ruddy was vice president of pharmaceutical development at Tesaro (NASDAQ: [[ticker:TSRO]]), also based in Waltham. Last year, Deciphera raised $128 million in an IPO to finance clinical testing of its cancer drug DCC-2618 in patients who have … Continue reading “Deciphera Pharma Appoints Stephen Ruddy Chief Technical Officer”
EverQuote Founders Talk IPO Fever, Journey from Biotech to Insurance
When I got on the phone Thursday with the leaders of EverQuote, Boston’s newest publicly traded tech company, I expected them to grumble about how I cast their venture as a “company you’ve never heard of” in yesterday’s story about its IPO. On the contrary, EverQuote CEO and co-founder Seth Birnbaum agreed with me. The … Continue reading “EverQuote Founders Talk IPO Fever, Journey from Biotech to Insurance”
Amazon Acquiring Online Pharmacy PillPack, Eyes Prescription Drug Market
It’s Amazon, not Walmart, that’s buying online pharmacy PillPack. The companies announced the deal Thursday morning but didn’t disclose any financial terms. The acquisition is expected to close in the second half of 2018. Back in April, Walmart was in serious talks to acquire PillPack. Those talks apparently broke down, and it’s no surprise that … Continue reading “Amazon Acquiring Online Pharmacy PillPack, Eyes Prescription Drug Market”
IPO Wave Rolls On as Five Life Science Firms Haul In $651M
A week after seven biotechs went public, setting a new record for the Nasdaq, five more life sciences companies have joined the club. The latest crop continued the positive momentum for life sciences offerings, as the group either met or exceeded their projections and raised a total of $651 million. Neon Therapeutics (NASDAQ: [[ticker:NTGN]]) was … Continue reading “IPO Wave Rolls On as Five Life Science Firms Haul In $651M”
Akebia Merges With Keryx as Anemia Drug Race Nears Finish Line
The race to treat anemia with a pill, not an injectable biologic, just took a new turn. Akebia Therapeutics (NASDAQ: [[ticker:AKBA]]), which is battling with FibroGen (NASDAQ: [[ticker:FGEN]]) to bring an anemia pill to market, has just announced plans to merge with kidney drug disease developer Keryx Pharmaceuticals (NASDAQ: [[ticker:KERX]]) in an all-stock deal that … Continue reading “Akebia Merges With Keryx as Anemia Drug Race Nears Finish Line”
The 2018 Xconomy Awards Finalists Are…
[Updated 6/28/18 5:20pm ET; see note below] There was discussion. There was debate. After much wrangling, the editors and judges have narrowed down the impressive list of nearly 300 nominees for the 2018 Xconomy Awards to an all-star group of 64 finalists in 11 categories. There is no doubt that the overall caliber of the … Continue reading “The 2018 Xconomy Awards Finalists Are…”
BitSight Picks Up $60M to Fend Off Rivals in Cybersecurity Ratings
BitSight Technologies is restocking its war chest to try and win the emerging market for cybersecurity ratings. Today the Cambridge, MA-based tech company announced it raised $60 million in a Series D funding round led by Warburg Pincus, the global private equity firm that has backed the likes of CrowdStrike in cybersecurity, DBRS in credit … Continue reading “BitSight Picks Up $60M to Fend Off Rivals in Cybersecurity Ratings”
EverQuote, a Boston Tech Company You’ve Never Heard of, Going Public
The name EverQuote may not ring a bell for you, although chances are you’ve seen one of its online ads about “disrupting” the insurance industry. The company, which operates an online marketplace for auto, home, and life insurance, has mostly flown under the radar on its way to reaching $120 million-plus in annual revenue and … Continue reading “EverQuote, a Boston Tech Company You’ve Never Heard of, Going Public”
Precision Bio Lands $110M as Gene-Edited Cell Therapy Nears Clinic
While CRISPR has grabbed the lion’s share of gene-editing headlines, Precision BioSciences has used its own gene-editing technology to quietly build a pipeline of products for both agriculture and human health. The Durham, NC company is now preparing to start testing a gene-edited cell therapy for cancer in humans and it has raised $110 million … Continue reading “Precision Bio Lands $110M as Gene-Edited Cell Therapy Nears Clinic”
GBT Eyes Fast Nod for Sickle Cell Drug but Won’t Use Patient-Reported Data
Global Blood Therapeutics hasn’t finished testing its treatment for sickle cell disease, but the South San Francisco, CA-based company thinks it can get a fast-track approval for the once-a-day pill, voxelotor, from the FDA. That was the company’s message this morning when it presented results from the first half of its key Phase 3 study, … Continue reading “GBT Eyes Fast Nod for Sickle Cell Drug but Won’t Use Patient-Reported Data”
It’s a Bird! A Bike! A Scooter! New Transit Options Land in Milwaukee
[Update 6/28/18 5:24 p.m.] Less than 24 hours after Bird rolled out a fleet of 100 motorized scooters in downtown Milwaukee that people can rent using Bird’s smartphone app, Milwaukee Deputy City Attorney Adam Stephens wrote the company a letter asking Bird to “immediately remove all of the motorized scooters held out for rent on … Continue reading “It’s a Bird! A Bike! A Scooter! New Transit Options Land in Milwaukee”
May Mobility and Bedrock Deploy Driverless Shuttles in Detroit
In March, May Mobility CEO Ed Olson told Xconomy that his company would beat Waymo, Uber, and Cruise in the race to get autonomous vehicles on the road, and it appears he may be right. May and Bedrock, the Detroit real estate firm associated with Quicken Loans chairman Dan Gilbert, have launched what they call … Continue reading “May Mobility and Bedrock Deploy Driverless Shuttles in Detroit”
New Round Boosts Lyft Valuation to $15B, But Uber Still Looms Large
Ridesharing service Lyft has upped its valuation by about $3.5 billion after adding a $600 million round of funding, which the company said Wednesday morning was led by previous investor Fidelity Management & Research. The new funding round gives Lyft a $15.1 billion post-money valuation, the company said in a blog post. That’s up from … Continue reading “New Round Boosts Lyft Valuation to $15B, But Uber Still Looms Large”
Summit Therapeutics Ditches Duchenne Drug In Wake of Phase 2 Failure
An experimental treatment for Duchenne muscular dystrophy has failed a mid-stage study, and Summit Therapeutics said Wednesday it is now stopping work on the drug. Summit shares plunged nearly 80 percent on the news. Duchenne is an inherited disorder found mainly in boys that causes progressive muscle weakness. The Summit (NASDAQ: [[ticker:SMMT]]) drug, ezutromid, was … Continue reading “Summit Therapeutics Ditches Duchenne Drug In Wake of Phase 2 Failure”
Largest Startup Class Yet Enters UC Berkeley’s Expanding Accelerator
More than a hundred startup teams are beginning a training and mentoring program this month at the Berkeley SkyDeck Accelerator—the largest group ever accepted to the UC Berkeley program since it was founded in 2012. Aside from the funding, free office rent, and other resources offered by the startup accelerator located near the edge of … Continue reading “Largest Startup Class Yet Enters UC Berkeley’s Expanding Accelerator”
Cibus Raises $70M for Marketing of Gene-Edited Canola, More R&D
Sales of Cibus’ first product, a gene-edited canola, have gone so well that the San Diego company has raised $70 million in new financing to boost its commercialization efforts. The Series C round of funding announced Tuesday was led by Fidelity Management and Research Company, and was joined by Alexandria Venture Investments, Cormorant Asset Management, … Continue reading “Cibus Raises $70M for Marketing of Gene-Edited Canola, More R&D”
Ford Builds Mobility Operation in Detroit, Releases New Fleet Tools
When I moved to Detroit about a decade ago, the husk of Michigan Central Station loomed over the Corktown neighborhood as an unrelenting reminder of how far the city had fallen—a symbol of its ruinous post-industrial identity as emblematic as the Sphinx was to Egypt. The conventional wisdom back then was that the old train … Continue reading “Ford Builds Mobility Operation in Detroit, Releases New Fleet Tools”
AstraZeneca’s PARP Drug Is First to Help New Ovarian Cancer Patients
Over the past few years, a new class of drugs known as “PARP” inhibitors has begun to change how ovarian cancer is treated. Data released by AstraZeneca and partner Merck this morning, from a Phase 3 study of the drug olaparib (Lynparza), could continue the trend. AstraZeneca (NYSE: [[ticker:AZN]]) and Merck (NYSE: [[ticker:MRK]]) said that … Continue reading “AstraZeneca’s PARP Drug Is First to Help New Ovarian Cancer Patients”
Don’t Be Boston 2.0, And Photos From “Bringing Back the Expats”
Be your own biotech cluster, not a Boston redux. Accelerate the momentum that’s already begun, don’t let it fizzle. And above all, be fearless entrepreneurs. You’ll need to be if New York biotech will ever become what its champions hope. Those were just a few lessons ex-New Yorker biopharma veterans had for the nascent life … Continue reading “Don’t Be Boston 2.0, And Photos From “Bringing Back the Expats””
Senators Grill HHS’s Azar on Drug Price Cuts That Have Yet to Come
When President Trump signed legislation last month allowing seriously ill patients the “right to try” unapproved drugs without FDA oversight, he voiced a bold prediction: Within two weeks, he said, drug companies would announce “voluntary massive drops in prices.” Asked for further detail, the Department of Health and Human Services (HHS) declined to elaborate on … Continue reading “Senators Grill HHS’s Azar on Drug Price Cuts That Have Yet to Come”
GE to Spin Out Healthcare Division in Corporate Restructuring
General Electric said Tuesday that it plans to spin its GE Healthcare division out into a separate company and make other major structural changes in a bid to reduce debt and narrow the iconic yet ever-evolving American company’s areas of focus. GE Healthcare, which is headquartered in Chicago, said its 54,000 employees are scattered across … Continue reading “GE to Spin Out Healthcare Division in Corporate Restructuring”
Air Force Innovation, Funds for Newchip & Convey, & More TX Tech
Let’s get caught up with the latest innovation news from Xconomy Texas. —Chevron Technology Ventures has launched a Future Energy Fund with an initial commitment of $100 million. The venture arm is a subsidiary of California-based Chevron (NYSE: [[ticker:CVX]]) and the new fund is designed to invest in “breakthrough technologies that enable the ongoing energy … Continue reading “Air Force Innovation, Funds for Newchip & Convey, & More TX Tech”
How the Rise of Beijing and Shanghai Tech May Impact Silicon Valley
When it comes to startup tech hubs, U.S. cities from San Francisco to Austin to Boston come first to mind. But that is starting to change, as Asian cities—particularly in China—are snapping up more tech venture capital funding and exits, according to a new report from CB Insights. Silicon Valley tech startups pulled in the … Continue reading “How the Rise of Beijing and Shanghai Tech May Impact Silicon Valley”
The Biggest Wisconsin Venture Round of the Decade… Didn’t Happen
Details surrounding a $127.4 million funding round, which groups that track venture capital investments have said Janesville, WI-based Shine Medical Technologies raised in 2014, were misconstrued in the years after the round was announced, according to people familiar with the deal. The Wisconsin Technology Council said as recently as last year that Shine’s 2014 funding … Continue reading “The Biggest Wisconsin Venture Round of the Decade… Didn’t Happen”
Helix Expands Real-World and Online Footprint with HumanCode Deal
Helix, which runs an online outlet for products based on customer DNA, has bought HumanCode, one of the app makers that contributes to its store. Denver-based HumanCode makes BabyGlimpse, which shows couples genetic traits that they might pass on to their children; and DNA Passport, which the company calls a “starter kit” to explore one’s … Continue reading “Helix Expands Real-World and Online Footprint with HumanCode Deal”
Student-Entrepreneur from Wisconsin Named 2018 Thiel Fellow
A student-entrepreneur from Oregon, WI, who runs a medical supplies company based in the Twin Cities, where she’s attended college the past two years, will receive $100,000 to take a leave from her studies and continue building the business following her selection as a 2018 Thiel Fellow. The Thiel Fellowship program, named for PayPal co-founder … Continue reading “Student-Entrepreneur from Wisconsin Named 2018 Thiel Fellow”
As Cybersecurity Business Expands, Proficio Offers Risk Scoring
In a bid to differentiate itself from the crowd of cybersecurity companies offering network monitoring services, Carlsbad, CA-based Proficio said it has developed a risk-scoring system that assesses its customers’ network security controls. In addition to highlighting each customer’s vulnerabilities to cyber-attack, Proficio said its new ThreatInsight software dashboard offers recommendations on how a customer … Continue reading “As Cybersecurity Business Expands, Proficio Offers Risk Scoring”
Catalog Hauls In $9M to Make DNA-Based Data Storage Commercially Viable
The practice of encoding data in DNA molecules could be inching closer to graduating from research labs to finding practical commercial use. In the coming years, the explosion of data being generated by computing devices could outstrip the supply of hard drives needed to store it, some industry experts say. Some academic researchers and business … Continue reading “Catalog Hauls In $9M to Make DNA-Based Data Storage Commercially Viable”
Skyhawk Lands $100M from Funding & Celgene Pact for RNA-Targeted Drugs
Almost exactly a year ago, a Boston-area cancer immunotherapy startup led by Bill Haney announced its first partnership, with Celgene. Haney, a tech entrepreneur, filmmaker and investor, is at it again today, announcing a similar deal with the Summit, NJ, drug maker, but this time as the head of his other, newer biotech company, Skyhawk … Continue reading “Skyhawk Lands $100M from Funding & Celgene Pact for RNA-Targeted Drugs”
Ex-Accomplice Partner Lynch Returns to Corner Office with AtScale
Chris Lynch has been at a crossroads. After departing Accomplice in early 2017, where he spent the previous five years investing in early-stage data science and cybersecurity startups in the Boston area, Lynch says he did a lot of soul-searching to decide whether he wanted to remain a full-time investor or return to his roots … Continue reading “Ex-Accomplice Partner Lynch Returns to Corner Office with AtScale”
Bio-Techne to Acquire Liquid Biopsy Firm Exosome Diagnostics for $250M
Exosome Diagnostics, a company that has developed technology to test for disease by analyzing blood and other bodily fluids, has agreed to be acquired by Bio-Techne in a $250 million cash deal. If Waltham, MA-based Exosome hits certain unspecified milestones, the company could receive up to $325 million more, the companies announced Monday after the … Continue reading “Bio-Techne to Acquire Liquid Biopsy Firm Exosome Diagnostics for $250M”
Humacyte Promotes Jeffrey Lawson to Chief Executive
Jeffrey Lawson has been appointed CEO of regenerative medicine company Humacyte. Lawson had been chief medical officer of the Research Triangle Park, NC, company since 2015. Lawson’s experience includes several roles at Duke University Medical Center. Former CEO Carrie Cox has taken on the role of executive chairman. Humacyte has developed a way to grow … Continue reading “Humacyte Promotes Jeffrey Lawson to Chief Executive”
Stitch Fix CTO Polinsky Says Its Style Shuffle Game Makes Data Fun
When Cathy Polinsky became chief technology officer of Stitch Fix in late 2016, she knew one of the San Francisco-based company’s key challenges was continually refining its core software algorithm to make sure customers received the right tailored suggestions in their monthly wardrobe boxes. So, she made it into a game. Style Shuffle is a … Continue reading “Stitch Fix CTO Polinsky Says Its Style Shuffle Game Makes Data Fun”
Finch Therapeutics Names Ulrich Thienel Chief Medical Officer
Ulrich Theinel has been appointed chief medical officer of Finch Therapeutics. Before joining the Somerville, MA, microbiome therapeutics developer, Theinel held leadership positions at Novelion Therapeutics, Eleven Biotherapeutics, ImmunoGen, Domantis, and Transkaryotic Therapies. Finch is currently in mid-stage clinical studies testing its microbial therapy as a treatment for Clostridium difficile infection. In other moves, Finch … Continue reading “Finch Therapeutics Names Ulrich Thienel Chief Medical Officer”
With AppNexus Acquisition, AT&T Stakes Claim in Adtech, Analytics
[Updated 3:51 p.m. See Below.] AT&T is buying advertising tech company AppNexus in a deal reportedly worth around $1.6 billion. The telecom giant plans to add AppNexus to an advertising and analytics business that it created last year. The purchase shows AT&T’s (NYSE: [[ticker:T]]) interest in better utilizing its vast amounts of customer data so … Continue reading “With AppNexus Acquisition, AT&T Stakes Claim in Adtech, Analytics”
Akero Closes $65M Financing to Back Liver Drug Licensed from Amgen
New biotech startup Akero Therapeutics debuted Monday with $65 million in a Series A round of funding to advance clinical development of a drug for the fatty liver disease nonalcoholic steatohepatitis (NASH). Cambridge, MA-based Akero licensed the drug from Amgen (NASDAQ: [[ticker:AMGN]]), which had tested it in Phase 1 studies. Akero said Monday it will … Continue reading “Akero Closes $65M Financing to Back Liver Drug Licensed from Amgen”
With Roche Data, Cancer Combos Post First Win Vs. Small Cell Lung Cancer
Cancer immunotherapy combinations continue to chalk up wins against lung cancer. For the first time, an immunotherapy-chemotherapy combination has succeeded in a late-stage study of patients with small cell lung cancer (SCLC), a particularly aggressive form of the disease often linked to smoking. Roche’s South San Francisco, CA-based Genentech division said today that in a … Continue reading “With Roche Data, Cancer Combos Post First Win Vs. Small Cell Lung Cancer”
Costello Raises $2.1M to Accommodate Growing Customer Demand
Costello, the Indianapolis-based software startup, this week announced that it has raised $2.1 million in seed funding. A number of local and out-of-state investors contributed to the round, including Dundee Ventures, Collina Ventures, Silicon Valley’s Social Capital, Copper Mountain Technologies CEO Irena Goloschokin, and ExactTarget co-founder Chris Baggott. Costello’s software brings artificial intelligence to the … Continue reading “Costello Raises $2.1M to Accommodate Growing Customer Demand”
Evofem’s David Friend Appointed Daré Bio Chief Scientific Officer
David Friend has been appointed chief scientific officer of San Diego-based Daré Biosciences (NASDAQ: [[ticker:DARE]]). Friend comes to Daré from another San Diego biotech company, Evofem Biosciences (NASDAQ: [[ticker:EVFM]]), where he was chief scientific officer. Daré develops treatments focusing on women’s reproductive health. The company gained its public stock listing last year through a reverse … Continue reading “Evofem’s David Friend Appointed Daré Bio Chief Scientific Officer”
Gemini Therapeutics Names Sandra Rojas-Caro Chief Medical Officer
Sandra Rojas-Caro has been appointed chief medical officer of Cambridge, MA-based Gemini Therapeutics. She was most recently chief medical officer for Aeglea BioTherapeutics. In other moves, Gemini named Claude Knopf to the position of chief business officer and promoted Scott Lauder to chief technology officer. Last fall, Gemini raised $42 million in Series A financing … Continue reading “Gemini Therapeutics Names Sandra Rojas-Caro Chief Medical Officer”
Boston Tech Watch: NuTonomy, Crypto Fund, Shyft, Renoviso & More
Lots of news to catch up on in the Boston-area tech sector. This week, we’re tracking an acquisition in healthcare data, the expansion of autonomous vehicle testing in the city, a stealthy cryptocurrency venture fund, and several venture investments. Read on for details. —Shyft Analytics agreed to be acquired by New York-based Medidata (NASDAQ: [[ticker:MDSO]]) … Continue reading “Boston Tech Watch: NuTonomy, Crypto Fund, Shyft, Renoviso & More”
Lockheed Martin Opening Cybersecurity Office for DoD in San Antonio
San Antonio—Lockheed Martin, the largest U.S. government contractor, is announcing today it is moving into a 15,400-square foot cybersecurity facility at Port San Antonio in hopes of landing a large contract with the Department of Defense. The move by Lockheed (NYSE: [[ticker:LMT]]) is part of its effort to get its hands on a contract worth … Continue reading “Lockheed Martin Opening Cybersecurity Office for DoD in San Antonio”
Some of the Best Reads for Casual Friday: Artificial Intelligence
Fridays can be the most productive work day, as you look to shore up everything before the weekend starts. Or, maybe instead, it’s a day filled with long lunches and listless Internet surfing, as you seek out all the interesting articles you missed during the week. Fear not: Xconomy has done the work for you, … Continue reading “Some of the Best Reads for Casual Friday: Artificial Intelligence”