Biotech financing is a cyclical thing. Two years ago, the IPO window was unlatched but a number of companies ended up withdrawing their stock offerings. Others that pushed their IPOs through couldn’t sell shares at the price they wanted. This year, the IPO window is wide open. A total of 93 IPOs have priced as … Continue reading “Bio Roundup: Duchenne Data, Roche Buys Foundation, IPO Wave & More”
Intel CEO Resigns After Board Learns of His Relationship With Employee
Intel (NASDAQ: [[ticker:INTC]]) announced Thursday that CEO Brian Krzanich has resigned in the wake of the company’s recent discovery that he had been involved in a past consensual relationship with an Intel employee. The relationship violated Intel’s non-fraternization policy—the finding of an ongoing investigation by internal and external counsel, the company said in a written … Continue reading “Intel CEO Resigns After Board Learns of His Relationship With Employee”
Tcare’s Software Aids People Who Live with, and Care for, Loved Ones
Retiring baby boomers are expected to more than double Medicare and Medicaid costs from 2017 to 2020, according to industry data. That may just be the tip of the iceberg: by 2035, Medicare will account for 8 percent of the U.S. gross domestic product, according to projections by the Congressional Budget Office. One major reason … Continue reading “Tcare’s Software Aids People Who Live with, and Care for, Loved Ones”
Latticework Launches Personal Hybrid Cloud for Private Data-Sharing
Were you aghast at revelations that third-party organizations were able to capture millions of Facebook profiles from users who were unaware of the company’s privacy policy terms? If so, a Silicon Valley startup is hoping to entice you with a new option for private data storage of your personal digital life, along with private channels … Continue reading “Latticework Launches Personal Hybrid Cloud for Private Data-Sharing”
Detroit Entrepreneur’s PlayVs is First E-Sports League for High Schools
As a kid in the 1990s, Delane Parnell spent his formative years around Detroit’s 7 Mile and Burgess neighborhood in a home with no Internet. Today, he’s the founder and CEO of a hot Los Angeles-based e-sports startup—and responsible for raising the largest Series A investment round of any African-American tech founder. Parnell is the … Continue reading “Detroit Entrepreneur’s PlayVs is First E-Sports League for High Schools”
X·CON 2018: The Xconomy Conference on Technology and Transformation
We’re at a pivotal moment. Technology has brought us to the threshold of an era when almost everything and everyone will be connected to the Internet, machines will be far more “intelligent” than humans and gain unprecedented autonomy, and babies will be designed and diseases cured via genetic manipulation. In short, we’re facing technological change … Continue reading “X·CON 2018: The Xconomy Conference on Technology and Transformation”
Matrix Partners Holds Steady with $450M Fund, as Other VCs Go Big
[Updated 6/22/18, 10:06 am. See below.] Matrix Partners has raised $450 million for its 11th U.S. venture capital fund, according to a document filed with securities regulators. That’s the same size as Matrix’s last flagship fund, which it closed in 2013. That’s somewhat unusual in the current venture fundraising environment. Many venture firms have been … Continue reading “Matrix Partners Holds Steady with $450M Fund, as Other VCs Go Big”
Bio IPO Madness: Six Biotech Startups Raise $568M in 24 Hours
The window for biotech IPOs remains wide open and six more companies have charged through it, raising more than $568 million in the span of 24 hours. The first was Eidos Therapeutics (NASDAQ: [[ticker:EIDX]]), which raised $106 million in its stock market debut. The San Francisco company priced its IPO late Tuesday, selling 6.25 million … Continue reading “Bio IPO Madness: Six Biotech Startups Raise $568M in 24 Hours”
Retail Robot Maker Bossa Nova Raises $29M to Monitor Shelves
Bossa Nova, a robotics company geared toward grocers and other sellers of related consumer products, announced today it has raised $29 million in new funding. The round was led by Cota Capital, with previous investors such as Intel Capital, Lucas Venture Group, and WRV Capital and new investors LG Electronics and China Walden Ventures participating. … Continue reading “Retail Robot Maker Bossa Nova Raises $29M to Monitor Shelves”
Same SaaS, New Acquisition Model: Q&A With Dura’s Paul Salisbury
San Antonio—Dura Holdings is trying to put a different spin on the model of acquiring and improving a business that has either underperformed or may have room to grow. San Antonio-based Dura buys software-as-a-service (SaaS) companies with recurring revenue and seeks to cut operating costs or improve simple things like marketing and sales processes, in … Continue reading “Same SaaS, New Acquisition Model: Q&A With Dura’s Paul Salisbury”
Analog Devices Aims High With Tech “Garage” Atop Boston Skyscraper
Analog Devices, the 53-year-old semiconductor company, threw a party Tuesday afternoon to celebrate its new technology incubator in Boston, dubbed the Analog Garage—an homage to the innovations that have originated in garages, basements, and other “nondescript quarters” of the world, as the company puts it. But this ain’t no garage or basement. The 25,000-square-foot office … Continue reading “Analog Devices Aims High With Tech “Garage” Atop Boston Skyscraper”
New Amazon-Led Healthcare Venture Taps Surgeon, Author Gawande as CEO
The new, independent, healthcare-focused company Amazon, Berkshire Hathaway, and JPMorgan Chase plan to launch made a big splash when it was first announced in January, but few details have emerged since. On Wednesday, the trio of American business heavyweights revealed a little more. They said Atul Gawande, a surgeon and author who is well known … Continue reading “New Amazon-Led Healthcare Venture Taps Surgeon, Author Gawande as CEO”
New Chapter: Publishing Executive Alston Becomes New CEO at DEC
Dallas—Alyce Alston, a veteran of the digital media and publishing industries, officially took over the reins of the Dallas Entrepreneur Center Wednesday. “I’ve always been an innovator within large organizations and then with startups after that,” she says. “I have a real empathy for startups, for entrepreneurs, people who are creating and doing things that … Continue reading “New Chapter: Publishing Executive Alston Becomes New CEO at DEC”
Goldman Sachs Leads $43M Funding for Website Platform NGINX
NGINX Inc., a Web application delivery platform company built on the open-source Web server NGINX, announced today it raised $43 million in a Series C fundraising to advance its system for helping clients modernize their websites. The funding round, which brings NGINX’s total venture capital haul to $103 million, was led by Goldman Sachs Growth … Continue reading “Goldman Sachs Leads $43M Funding for Website Platform NGINX”
CrowdStrike Hauls In $200M, Reports Valuation Over $3 Billion
CrowdStrike, a Silicon Valley cybersecurity company that fends off hackers by patrolling the edge devices connected to a network, announced today it raised $200 million in a financing round that sets the company’s valuation at more than $3 billion. Sunnyvale, CA-based CrowdStrike, as an endpoint protection and response platform, uses next-generation antivirus software, scans for … Continue reading “CrowdStrike Hauls In $200M, Reports Valuation Over $3 Billion”
What’s Hot in Seattle Biotech: Tech, Life Sciences Convergence & More
Like a good cup of coffee, Seattle’s life sciences ecosystem is a balanced blend of complementary parts: research to find the underpinnings of disease, and information technology that helps scientists make sense of the data. That convergence was on display last week at Xconomy’s annual What’s Hot in Seattle Biotech event. Here are a few … Continue reading “What’s Hot in Seattle Biotech: Tech, Life Sciences Convergence & More”
CVS Health Expands Delivery, as Pharmacies Try to Keep Amazon at Bay
CVS Health said Tuesday that it has expanded its prescription-drug delivery service nationwide. Customers of the Rhode Island-based retail pharmacy giant, which operates about 9,800 stores in the U.S., will be able to get their medications, as well as over-the-counter items, delivered to their mailboxes in one to two days, said CVS Pharmacy, the retail … Continue reading “CVS Health Expands Delivery, as Pharmacies Try to Keep Amazon at Bay”
LoftSmart Adds $12.9M for Student Housing Review and Rental Software
LoftSmart, a website that helps college students find off-campus housing, has raised $12.9 million in an equity funding round, according to a securities filing. New York-based LoftSmart lets students search for and review properties typically rented by students, leaving feedback in each apartment building’s listing on amenities, problems, or other details that might help college … Continue reading “LoftSmart Adds $12.9M for Student Housing Review and Rental Software”
BioXcel Therapeutics Appoints Vincent O’Neill Chief Medical Officer
Vincent O’Neill has been appointed senior vice president and chief medical officer of BioXcel Therapeutics (NASDAQ: [[ticker:BTAI]]). O’Neill had been serving as chief medical officer of the Branford, CT, company on a consulting basis since last July. His experience also includes senior roles at Genentech, Sanofi (NYSE: [[ticker:SNY]]), GlaxoSmithKline (NYSE: [[ticker:GSK]]), and Mirna Therapeutics. Earlier … Continue reading “BioXcel Therapeutics Appoints Vincent O’Neill Chief Medical Officer”
Former Walgreens Exec Leider Joins Gelesis as Chief Medical Officer
Gelesis has appointed Harry Leider to serve as the Boston company’s chief medical officer and executive vice president. Leider most recently worked at Walgreens Boots Alliance (NASDAQ: [[ticker:WBA]]), where he was chief medical officer and group vice president. His experience includes executive posts at Ameritox, XLHealth, and HealthNet. Since 2015, Leider has also been a … Continue reading “Former Walgreens Exec Leider Joins Gelesis as Chief Medical Officer”
In a Genentech Redux, Roche Pays $2.4B for Rest of Foundation Medicine
Roche this morning agreed to acquire the part of Foundation Medicine it didn’t already own, another big vote of confidence in tests that analyze a patient’s cancer genes and the drugs that can target them. Roche will pay $137 per share, or $2.4 billion, for the remaining stock of Foundation (NASDAQ: [[ticker:FMI]]), of Cambridge, MA. … Continue reading “In a Genentech Redux, Roche Pays $2.4B for Rest of Foundation Medicine”
Sarepta’s Data Are First in Rush for Duchenne Gene Therapy
It’s far too early to say whether gene therapy can treat Duchenne muscular dystrophy, a deadly genetic disease. But the first clinical data have arrived, with Sarepta Therapeutics today reporting encouraging preliminary results from three patients. Sarepta (NASDAQ: [[ticker:SRPT]]), of Cambridge, MA, is conducting an early-stage study of its experimental treatment known as AAVrh74.MHCK7.micro-Dystrophin. The … Continue reading “Sarepta’s Data Are First in Rush for Duchenne Gene Therapy”
Business Catering Firm ezCater Goes Big With $100M Round
Boston-based ezCater, which runs an online food-ordering service for businesses, said today it has $100 million in new money. The Series D financing round was led by Wellington Management Company, with previous investors including Iconiq Capital and Insight Venture Partners also participating. The new cash brings ezCater’s total venture haul to $170 million. The company … Continue reading “Business Catering Firm ezCater Goes Big With $100M Round”
Foxconn, Arrowhead, NorthStar & More: This Week’s Wisconsin Watchlist
Catch up on news from Wisconsin’s innovation community with these recent headlines: —Foxconn paid nearly $15 million for an office building in downtown Milwaukee that will serve as the company’s North American headquarters, the Milwaukee Journal Sentinel reported. The location chosen by the Taiwanese electronics manufacturing giant does not come as a major surprise; in … Continue reading “Foxconn, Arrowhead, NorthStar & More: This Week’s Wisconsin Watchlist”
Comcast, ForgePoint Pump $10M Into Security Analytics Startup Uptycs
Uptycs is starting to make some noise. Today, the two-year-old cybersecurity startup announced a $10 million Series A funding round to help expand its team and advance its security analytics software. The investment was led by ForgePoint Capital, a cybersecurity-focused venture firm formerly known as Trident Capital CyberSecurity, and Comcast Ventures, the venture arm of … Continue reading “Comcast, ForgePoint Pump $10M Into Security Analytics Startup Uptycs”
Emulate Adds $36M to Expand “Organ Chip” Drug Research Technology
Emulate, a Boston-based startup that has developed small laboratory chips intended to replace the animal tests used in pharmaceutical research, has raised $36 million in financing. The Series C round of funding was led by Founders Fund. Also participating in the financing were new investors ALS Investment Fund, SciFi VC, and Glass Wall Syndicate, as … Continue reading “Emulate Adds $36M to Expand “Organ Chip” Drug Research Technology”
Decibel Hauls in $55M to Bring Multiple Hearing Drugs to the Clinic
[Updated, 6/19/18, 4:20 p.m. See below.] Hearing loss affects millions of Americans, but so far, drug companies have not yet brought treatments to the market. Decibel Therapeutics aims to pioneer the discovery and development of therapies addressing multiple forms of hearing loss. The startup has quietly built a pipeline of experimental drugs, and as those … Continue reading “Decibel Hauls in $55M to Bring Multiple Hearing Drugs to the Clinic”
New Conquer Cohort Tackling Homecare Staffing, Snapchat Filters, More
A glance at the thermometer confirms summer is officially here—quite oppressively here if you’re in the Midwest—and that means the start of a handful of annual startup incubation programs in Michigan. The Conquer Accelerator, hosted by Spartan Innovations, just launched its 2018 cohort in East Lansing. The five companies accepted into this year’s program will … Continue reading “New Conquer Cohort Tackling Homecare Staffing, Snapchat Filters, More”
Quest Analytics Buys Healthcare Compliance Software Firm BetterDoctor
BetterDoctor, a San Francisco-based startup that has built a national database with information on physicians, dentists, and other practitioners, has been acquired by a Wisconsin software analytics business, the companies said Monday. Appleton, WI-based Quest Analytics said that following its purchase of BetterDoctor, the combined company will build a “comprehensive platform” to help health plans … Continue reading “Quest Analytics Buys Healthcare Compliance Software Firm BetterDoctor”
Rock River Capital Nabs Another $15M to Invest in Midwest Startups
A young Wisconsin venture capital firm says it has raised more than $15 million for a fund created under a program partially supported by the state of Wisconsin and aimed at increasing the amount of funding available to Badger State startups. Rock River Capital Partners said in a document filed with the SEC on Friday … Continue reading “Rock River Capital Nabs Another $15M to Invest in Midwest Startups”
As Sarepta Preps Data, FDA Lifts Hold on Solid’s Duchenne Gene Therapy
The race to use gene therapy to treat Duchenne muscular dystrophy, a progressive, deadly genetic disease that affects boys, is heating up this week. The FDA just cleared Solid Biosciences to resume clinical testing of a Duchenne gene therapy, a day before Sarepta Therapeutics will report human clinical data from a rival treatment that also … Continue reading “As Sarepta Preps Data, FDA Lifts Hold on Solid’s Duchenne Gene Therapy”
Mapping Software Startup Ushr Lands Installation Deal with Cadillac
Ushr, the Livonia, MI, and Lompoc, CA-based startup making high-definition mapping software for use in semi-autonomous and autonomous vehicles, has earned awards and accolades since it launched last year. The latest award has paved a path to get Ushr’s software into future models of a classic American car brand. Ushr has a big hand in … Continue reading “Mapping Software Startup Ushr Lands Installation Deal with Cadillac”
Built on Quantum Mechanics, Intraband Eyes Missile Defense for Laser
After meeting with North Korean leader Kim Jong-un, President Donald Trump wrote in a tweet that “there is no longer a nuclear threat from North Korea” to the U.S. Other elected leaders disagree. “Saying it doesn’t make it so,” Sen. Chuck Schumer, D-NY, told The New York Times this week. “North Korea still has nuclear weapons.” … Continue reading “Built on Quantum Mechanics, Intraband Eyes Missile Defense for Laser”
Biotech Beware, Your Culture Is Showing
In a recent survey of 220 scientists, 60 percent of the respondents reported having experienced harassment at a conference at some point in their careers. Even more astounding is the fact that 82 percent of those who reported harassment did not report it when it occurred. That’s why it’s easy to say, “How big of … Continue reading “Biotech Beware, Your Culture Is Showing”
CarePredict Set to Buy IP of San Antonio’s WiseWear From Bankruptcy
San Antonio—The intellectual property of WiseWear, the bankrupt company that sold fashionable wearable devices, may be sold to the new employer of WiseWear founder Jerry Wilmink. CarePredict, a Plantation, FL-based business that sells wearable devices and software to assisted living facilities for monitoring residents, bid $110,000 to buy the intellectual property assets of WiseWear, according … Continue reading “CarePredict Set to Buy IP of San Antonio’s WiseWear From Bankruptcy”
Teva’s Migraine Drug Fails in Phase 3 for Chronic Cluster Headaches
Teva Pharmaceutical’s bid to add a new therapeutic application for its experimental migraine-prevention drug has faltered in a late-stage study. Israel-based Teva (NYSE: [[ticker:TEVA]]) said Friday that it is stopping a Phase 3 clinical trial testing its drug, fremanezumab, for prevention of chronic cluster headaches. According to the company, an analysis found that the study … Continue reading “Teva’s Migraine Drug Fails in Phase 3 for Chronic Cluster Headaches”
30Ventures Seeks $15M to Fund Startups in Healthcare, Water Tech
30Ventures, one of the newest additions to Wisconsin’s venture capital scene, quietly revealed plans this week to raise up to $15 million for its debut fund, which will back healthcare and water and chemistry-related technologies in the Midwest. The Madison, WI-based firm disclosed fundraising details in a document filed with federal securities regulators on Thursday. … Continue reading “30Ventures Seeks $15M to Fund Startups in Healthcare, Water Tech”
Metabolon CEO John Ryals Retires, Rohan Hastie Named Successor
John Ryals has retired from Metabolon, where he was president and CEO. Ryals, co-founder of the Research Triangle Park, NC, company, will remain on the board of directors. Rohan Hastie, Metabolon’s chief business officer, has been promoted to president and CEO. Metabolon has developed technology that analyzes processes related to metabolism. The company’s tests have … Continue reading “Metabolon CEO John Ryals Retires, Rohan Hastie Named Successor”
Northern Biologics’ Rahul Ballal Joins Imara as CEO
Rahul Ballal has been named CEO of Cambridge drug developer Imara. Ballal most recently served as chief business officer of Northern Biologics. Imara launched in 2016 backed by $31 million in financing to develop drugs for sickle cell disease and other blood disorders. The company’s lead sickle cell disease compound, IMR-687, is in mid-stage clinical … Continue reading “Northern Biologics’ Rahul Ballal Joins Imara as CEO”
Bio Roundup: Not-BIO Party Foul, CRISPR Drama, Sickle Cell Updates
This week brought a sobering reminder of how far away we are from true gender equality in the life sciences. An industry party held during BIO’s annual meeting in Boston last week featured scantily clad women with company logos painted on their bodies—two years after the infamous party at the J.P. Morgan party in San … Continue reading “Bio Roundup: Not-BIO Party Foul, CRISPR Drama, Sickle Cell Updates”
For Sickle Cell, a Complex Disease, New Drugs Could Bring Complex Costs
Cassandra Trimnell has sickle cell disease. She also loves to travel. For her 30th birthday last year, she and her husband planned a trip to Indonesia, and she figured she would be fine. Growing up in Iowa, she was sick all the time, in and out of hospitals with severe pain episodes, or “crises,” and … Continue reading “For Sickle Cell, a Complex Disease, New Drugs Could Bring Complex Costs”
Bluebird’s Upgraded Gene Therapy Shows Promise For Sickle Cell Patients
Bluebird Bio has new clinical data this morning that, while early and only from a handful of patients, are the most significant evidence to date that gene therapy might help people with sickle cell disease, a genetic disorder without an effective treatment that afflicts millions around the world. The data, presented at the European Hematology … Continue reading “Bluebird’s Upgraded Gene Therapy Shows Promise For Sickle Cell Patients”
Boston Tech Watch: Airbnb, Tableau, Pillo, Orbita, Validity & More
Here are some of the latest headlines from the Boston-area tech community: —Seattle-based Tableau Software (NYSE: [[ticker:DATA]]) said it acquired Empirical Systems, an automated statistical analysis startup that spun out of MIT’s Probabilistic Computing Project. The price wasn’t disclosed in a press release announcing the deal. Empirical employees will join Tableau, which is establishing a … Continue reading “Boston Tech Watch: Airbnb, Tableau, Pillo, Orbita, Validity & More”
Austin’s Ambiq Micro Adds $11M for Energy-Efficient Microcontrollers
Austin—Ambiq Micro, which makes energy-efficient chips and sells them internationally, has raised $11.4 million in an equity funding round, according to a securities filing. The company may raise up to $20 million, the filing says. Austin, TX-based Ambiq sells low-powered microcontrollers to companies such as Huawei Technologies and Fossil Group (NASDAQ: [[ticker:FOSL]]) for Internet of … Continue reading “Austin’s Ambiq Micro Adds $11M for Energy-Efficient Microcontrollers”
Fasetto Eclipses Crowdfunding Goal on First Day of Campaign
[Updated 6/14/18 5:58 p.m. See below.] Fasetto, a Superior, WI-based company that develops solid-state storage drives and cloud-based software for instantly sharing files, on Thursday announced a new product aimed at helping users store and broadcast digital presentations. In addition to unveiling its latest device, which it calls Forum, Fasetto launched a crowdfunding campaign on the … Continue reading “Fasetto Eclipses Crowdfunding Goal on First Day of Campaign”
After Departing CyPhy, Helen Greiner to Help U.S. Army in Robotics
Helen Greiner, the robotics expert and entrepreneur who co-founded iRobot, quietly left her most recent startup, the drone venture CyPhy Works, a few months ago, and she is now working with the U.S. Army on robotics and artificial intelligence initiatives. Greiner (pictured) left CyPhy in late 2017 and relinquished her board seat, a company spokesperson … Continue reading “After Departing CyPhy, Helen Greiner to Help U.S. Army in Robotics”
GE Plans a Sale as San Diego Smart City Project Nears Completion
In another month or two, a General Electric (NYSE: [[ticker:GE]]) subsidiary is expected to complete the installation of an intelligent lighting system in San Diego that’s been billed as “the world’s largest municipal Internet of Things.” The Boston-based subsidiary, Current by GE, began work earlier this year for the city of San Diego on a … Continue reading “GE Plans a Sale as San Diego Smart City Project Nears Completion”
Benchling Scores $14.5M to Grow Online Lab Notebook for Bio-Researchers
New immunotherapy approaches to cancer treatment, and the CRISPR technology for editing genetic material in cells, are among the most sophisticated research strategies scientists are using in their quest to defeat disease. But as researchers develop these techniques based on manipulating biological molecules, they may still be recording their experimental results by a method untouched … Continue reading “Benchling Scores $14.5M to Grow Online Lab Notebook for Bio-Researchers”
Mindstrong Adds $15M for Tech That Predicts Mental Health Changes
Mindstrong Health, a technology company that wants to help treat neurological conditions by tracking a person’s smartphone use, announced this morning it has closed a $15 million Series B round of funding. The Palo Alto, CA-based company is using the new money to move its product forward commercially on two paths. First, Mindstrong is partnering … Continue reading “Mindstrong Adds $15M for Tech That Predicts Mental Health Changes”
San Antonio Considers $750K Package to Woo E-Commerce Firm THG
San Antonio—Cities across the country are offering Amazon billions of dollars in incentives to locate its second headquarters there, from Maryland’s $8.5 billion in tax breaks and credits to Atlanta’s reported offer of $1 billion and the title of mayor for Jeff Bezos for a nearby town. As for San Antonio? City leaders didn’t even … Continue reading “San Antonio Considers $750K Package to Woo E-Commerce Firm THG”