Jeanne Magram has been appointed chief scientific officer of cancer immunotherapy developer Quentis Therapeutics. Before joining New York-based Quentis, Magram was chief scientific officer of Northern Biologics, a Toronto biotech company. Her experience also includes posts at Pfizer (NYSE: [[ticker:PFE]]) and Boeringer Ingelheim. In February, Quentis raised $48 million in a Series A financing round … Continue reading “Quentis Therapeutics Appoints Magram Chief Scientific Officer”
Structural Snags $2.5M Investment to Fund Growth and Augment Platform
Structural, an employee-data management startup based in Indianapolis and the Twin Cities, today announced that it has raised $2.5 million in an equity investment round, with backing from High Alpha, Revolution’s Rise of the Rest Seed Fund, Matchstick Ventures, the Syndicate Fund, and Great North Labs. The 15-person company has raised just under $5 million … Continue reading “Structural Snags $2.5M Investment to Fund Growth and Augment Platform”
Double-Digit Funding Rounds for Fintech Startups BlueVine, Chime, Marqeta
[Updated 6/11/18, 11:13 am. See below.] A trio of Bay Area fintech companies announced fundraising rounds in the double-digit millions over the past week to help build out their alternative services in small business lending, consumer banking, and payment cards. Silicon Valley venture capital firm Menlo Ventures led two of the funding rounds. —BlueVine, an … Continue reading “Double-Digit Funding Rounds for Fintech Startups BlueVine, Chime, Marqeta”
Motivo, Rockwell, Snippet & More: This Week’s Wisconsin Watchlist
Keep up with news from Wisconsin’s innovation community with these recent headlines: —Motivo, a New Berlin-based company that sells wheeled, collapsible walkers for people who need help with mobility and balance, said it raised $950,000 from investors to ramp up sales of its Motivo Tour Walker product line. The walkers, which are currently available for … Continue reading “Motivo, Rockwell, Snippet & More: This Week’s Wisconsin Watchlist”
Last Chance to Save on What’s Hot in Seattle Biotech
There’s just one week left before Xconomy’s latest biotech event, “What’s Hot in Seattle Biotech.” Don’t let the clock run out while you can still save some cash on a ticket. Next Tuesday, June 12, we’re bringing together some of the Emerald City’s top life science entrepreneurs, scientists, and investors to discuss the strengths and … Continue reading “Last Chance to Save on What’s Hot in Seattle Biotech”
Nimbus Nabs $65M to Advance In-House Drug Discoveries to the Clinic
Nimbus Therapeutics’ drugs have already found new homes with larger companies that aim to develop them into potential treatments for autoimmune and liver diseases. Selling its discoveries was a goal for Nimbus from its inception. But the Cambridge, MA, biotech has also been trying to forge its own identity framed around discoveries that it keeps … Continue reading “Nimbus Nabs $65M to Advance In-House Drug Discoveries to the Clinic”
ASCO Wrap: Cancer Combos, Precision Meds, Stock Movers & More
The American Society of Clinical Oncology annual meeting, the world’s largest cancer conference, wraps up today in Chicago. Investors have dissected the data, picked winners and losers, and sent some biotech stocks soaring and others tumbling. In the days before ASCO, Xconomy previewed two major themes: the feverish and flawed race to develop cancer immunotherapy … Continue reading “ASCO Wrap: Cancer Combos, Precision Meds, Stock Movers & More”
Michigan Mobility Challenge Designed to Address Transportation Gaps
Each year, at the end of May, Michigan’s government, industry, and nonprofit leaders get together on Mackinac Island for a few days to discuss the day’s most pressing political issues. It’s a popular place to announce new policies and programs. This year, Gov. Rick Snyder used the Mackinac gathering to unveil the Michigan Mobility Challenge, … Continue reading “Michigan Mobility Challenge Designed to Address Transportation Gaps”
Biotech’s Looming Talent Crisis: 5 Ways to Prepare for the Storm
Finding and keeping great talent has always been a limiting factor for building companies—and even more so in the life science industry, which requires highly specialized skills. As an executive recruiter focused solely on life sciences, I know firsthand the challenges of filling key executive roles, and I’m often the first to see signs of … Continue reading “Biotech’s Looming Talent Crisis: 5 Ways to Prepare for the Storm”
Sun Life Financial Buys Maxwell Health to Ease Insurance Buying
Maxwell Health’s quest to simplify the mind-numbing tasks of buying health insurance and administering other employee benefits will now continue under the wing of one of the startup’s investors. Boston-based Maxwell announced Monday it has been acquired by Sun Life Financial (NYSE: [[ticker:SLF]]), a Toronto, Canada-based company that sells insurance and provides a variety of … Continue reading “Sun Life Financial Buys Maxwell Health to Ease Insurance Buying”
E-Commerce Firm Rue La La Buys Fellow Flash-Sales Site Gilt Groupe
Two of fashion tech’s pioneering companies have come together. Rue La La, a flash-sale fashion site, announced Monday that it has purchased Gilt Groupe, a discount fashion and merchandise seller. Terms of the deal were not disclosed, but the two brands will operate independently, according to a press release. The merged company will be called … Continue reading “E-Commerce Firm Rue La La Buys Fellow Flash-Sales Site Gilt Groupe”
Portola Pharma CEO Bill Lis Plans to Retire from Company, Board
Portola Pharmaceuticals (NASDAQ: [[ticker:PTLA]]) CEO Bill Lis is retiring from the South San Francisco, CA, drug developer. Lis will also retire from Portola’s board of directors. The company said Lis will remain with the company through Aug. 1, and then step into an advisory role. John Curnutte, Portola’s executive vice president of research and development, … Continue reading “Portola Pharma CEO Bill Lis Plans to Retire from Company, Board”
Rodin Therapeutics Names Michael Ryan Chief Medical Officer
J. Michael Ryan has been appointed chief medical officer of drug developer Rodin Therapeutics. Ryan comes to the Cambridge, MA, biotech from Swiss company Asceneuron, where he was chief medical officer. His experience also includes posts in neuro drug development for Novartis (NYSE: [[ticker:NVS]]) and Pfizer (NYSE: [[ticker:PFE]]). Rodin is developing treatments for neurological disorders … Continue reading “Rodin Therapeutics Names Michael Ryan Chief Medical Officer”
Neon Therapeutics, Translate Bio Join the Ranks of IPO Hopefuls
At this rate, 2018 could be a record-breaking year for biotech IPOs. Two more Boston-area companies filed their IPO plans late last week. Neon Therapeutics is developing personalized cancer vaccines, one of which is in Phase 1 clinical testing. Translate Bio is a messenger RNA (mRNA) company that started human testing just last month. Neon … Continue reading “Neon Therapeutics, Translate Bio Join the Ranks of IPO Hopefuls”
Online Insurance Marketplace EverQuote Plans IPO: 4 Takeaways
The tech IPO revival of 2018 continues. EverQuote, a Boston-area company that operates an online insurance marketplace, filed documents with the SEC on Friday indicating it intends to go public. EverQuote said it might raise up to $75 million in an initial public stock offering, although that number could shift if the Cambridge, MA-based company … Continue reading “Online Insurance Marketplace EverQuote Plans IPO: 4 Takeaways”
Teladoc Buys Advance Medical for $352M to Expand Telehealth Services
Teladoc said Monday that it has bought Advance Medical, a fellow provider of telehealth software and services, in a $352 million cash and stock deal intended to add to its reach beyond U.S. borders. Purchase, NY-based Teladoc (NYSE: [[ticker:TDOC]]) said that following its acquisition of Westwood, MA-based Advance Medical, more people who are employed by … Continue reading “Teladoc Buys Advance Medical for $352M to Expand Telehealth Services”
Why Microsoft Bought GitHub for $7.5B, and What Developers Think
Since Satya Nadella took over as CEO of Microsoft in 2014, the company’s dedication to cloud computing and developer-focused software products has been palpable. Nadella was executive vice president of Microsoft’s cloud and enterprise group before taking the helm of the entire business. And revenues for the company’s cloud computing services, such as Microsoft Azure, … Continue reading “Why Microsoft Bought GitHub for $7.5B, and What Developers Think”
Aravive Seeks Nasdaq Perch Via Reverse Merger With Biotech Versartis
Houston biotech Aravive Biologics is going public through a reverse merger with Versartis, a Menlo Park, CA-based company whose lead drug failed a clinical trial last year. Under the deal, Versartis and Aravive shareholders will each own about 50 percent of the combined company, according to a press release. Aravive will get Versartis’s (NASDAQ: [[ticker:VSAR]]) … Continue reading “Aravive Seeks Nasdaq Perch Via Reverse Merger With Biotech Versartis”
Xconomy’s Napa Summit Is June 14-15: Last Call for Invites
Just 10 days to go—but it’s not too late to request your invitation to Xconomy’s most unique and thought-provoking event of the year: our annual Napa Summit: The Xconomy Retreat on Technology, Jobs, and Growth. We only have a few spots left open, so get your wine on and request your invitation today. You will … Continue reading “Xconomy’s Napa Summit Is June 14-15: Last Call for Invites”
Price Check on Aisle 3: Retailers Turn to Robots to Manage Inventory
Inventory management is crucial to operating a successful retail operation. And as hard as it may be to believe, retailers “don’t really know what’s on the shelves,” says Sarjoun Skaff, founder and CTO of Bossa Nova Robotics. A combination of the sheer number of products a retailer like Walmart has on offer and the pace … Continue reading “Price Check on Aisle 3: Retailers Turn to Robots to Manage Inventory”
Banks & Insurers Seek Out Startups in New MassChallenge Accelerator
Big corporations increasingly say they see startups as friends, not enemies. The latest example is a new financial technology accelerator in Boston led by MassChallenge, the nonprofit organization that runs a global network of startup support programs that don’t take equity stakes in the companies. MassChallenge FinTech will match early-stage ventures with well-established industry partners … Continue reading “Banks & Insurers Seek Out Startups in New MassChallenge Accelerator”
Loxo Unveils More Data, Paves a Path Forward In Precision Oncology
An experimental cancer drug from Loxo Oncology has shown early signs that it might impact multiple tumor types, regardless of where in the body they originated. The clinical results come with caveats, but they add to a slowly growing body of evidence supporting so-called tumor “agnostic” drugs, which are markers for the progress of precision … Continue reading “Loxo Unveils More Data, Paves a Path Forward In Precision Oncology”
Eli Lilly’s Arthritis Drug Approved at Lower Dose with Boxed Warning
Eli Lilly won regulatory approval for its rheumatoid arthritis drug Friday, nearly 14 months after the FDA rejected the once-daily pill due to safety concerns. But the approval comes with limitations that will likely hamper Lilly’s ambitions to turn the drug into a blockbuster seller. The regulatory nod covers only the lower of the two … Continue reading “Eli Lilly’s Arthritis Drug Approved at Lower Dose with Boxed Warning”
With $40M Banked, Escient Building for Fast Move to Human Trials
In the weeks since Escient Pharmaceuticals made its debut, the San Diego biotech has found lab space atop San Diego’s Torrey Pines Mesa and is recruiting scientists with experience developing drugs that target G protein-coupled receptors (GPCRs). Escient’s co-founders, CEO Alain Baron and chief scientific officer Marcus Boehm, have been busy, and it took a … Continue reading “With $40M Banked, Escient Building for Fast Move to Human Trials”
Art of the Deo: American Provenance Raises $500K to Go National
American Provenance, a Blue Mounds, WI-based startup that sells handmade deodorants, after-shave, and other grooming products, has raised a $500,000 round of equity funding to help fuel its growth, says founder and CEO Kyle LaFond. The company will use some of the proceeds from the seed funding round to create digital marketing campaigns for its … Continue reading “Art of the Deo: American Provenance Raises $500K to Go National”
Drug Price Watchdog ICER Deems Amgen Migraine Drug “Cost-Effective”
As Amgen approached an FDA decision last month for its migraine-prevention treatment, concern mounted that the drug would come at premium. In setting a price thousands of dollars less than expected, Amgen has won over one of the pharmaceutical industry’s fiercest drug price critics. The non-profit Institute for Clinical and Economic Review (ICER) assessed the … Continue reading “Drug Price Watchdog ICER Deems Amgen Migraine Drug “Cost-Effective””
Hc1 Snags $7M Series B, Partners with Appriss on Opioid Dashboard
Hc1.com, the Indianapolis startup focused on healthcare relationship management and data analytics, recently scored $7 million in new capital to expand its presence in the market and drive further adoption of its products, including the company’s software dashboard for analyzing opioid use. The Series B round was led by Health Cloud Capital with participation from … Continue reading “Hc1 Snags $7M Series B, Partners with Appriss on Opioid Dashboard”
Ease Raises $500K to Connect Freelance Workers with Employers
Nate Harris had never worked at a tech startup prior to co-founding Ease, a Milwaukee-based technology and service provider that helps businesses find freelancers to help them in areas like website design and search engine optimization. Harris’s background is in digital marketing and restaurants; he’s a managing partner in Ugly’s, a tavern located in the … Continue reading “Ease Raises $500K to Connect Freelance Workers with Employers”
Cannon Ventures, Pensa Systems, FloSports, Kopser Wins & More TX Tech
Let’s catch up with the latest innovation news from Xconomy Texas. —The Cannon, a Houston-based venture studio, is creating an angel network that founder Lawson Gow hopes will “democratize” angel investing in startups. “We will have junior memberships and regular memberships,” Gow says. “We want to bring in 35-year-olds who want to invest $20,000. There are … Continue reading “Cannon Ventures, Pensa Systems, FloSports, Kopser Wins & More TX Tech”
Biotech Roundup: ASCO Ahead, CAMP4’s Cash, Ambien Tweeting & More
For the next five days, the oncology community’s attention will focus on Chicago. The Windy City is the home for the American Society of Clinical Oncology’s annual meeting, and it kicks off today. Many ASCO attendees will zero in on potential cancer drug combinations. They’re seen as the key to expanding the reach of caner … Continue reading “Biotech Roundup: ASCO Ahead, CAMP4’s Cash, Ambien Tweeting & More”
Boston Tech Watch: FrontStream, M.Gemi, Lendbuzz, Gravyty, CyberSaint
Here are some of the latest investments and acquisitions in Boston-area tech: —Boston-based Lendbuzz grabbed a $30 million investment led by BHI USA, the U.S. division of Israel-based Bank Hapoalim Group, according to an announcement e-mailed to Xconomy. The online lending startup has raised a total of $45 million in equity and debt funding since launching … Continue reading “Boston Tech Watch: FrontStream, M.Gemi, Lendbuzz, Gravyty, CyberSaint”
Arcturus Reinstates Fired CEO After Regime Change in Boardroom
The San Diego RNA drug developer Arcturus Therapeutics (NASDAQ: [[ticker:ARCT]]) on Thursday reinstated fired CEO Joseph Payne and named ResMed (NYSE: [[ticker:RMD]]) founder Peter Farrell as chairman of the company’s new board of directors. The four members of the company’s previous board, who resigned as part of an agreement reached last weekend, fired Payne in … Continue reading “Arcturus Reinstates Fired CEO After Regime Change in Boardroom”
Exact Sciences Needs New Study to Fully Benefit From ACS Change
Exact Sciences has already set plans in place to try to benefit from new guidelines from the American Cancer Society, which is lowering the recommended age at which patients should first get screened for colorectal cancer from 50 to 45. Fully realizing that objective, however, is still going to take plenty of time and money, … Continue reading “Exact Sciences Needs New Study to Fully Benefit From ACS Change”
Japan’s SoftBank Pours $2.5B into GM’s Self-Driving Division
General Motors’ stock price was cruising after news broke this morning that Japanese holding company SoftBank has invested $2.25 billion into the automaker’s driverless vehicle division. Once the deal closes, GM (NYSE: [[ticker:GM]]) will reportedly invest an additional $1.1 billion. According to multiple news outlets, Cruise, GM’s autonomous car operation, is now expected to have … Continue reading “Japan’s SoftBank Pours $2.5B into GM’s Self-Driving Division”
Drugs OK’d To Hit Tumor Genes Still a Basket of One. Are More Coming?
[Corrected 6/4/18, 1:53 a.m. ET. See below.] One year ago, the FDA made biomedical history. A cancer drug, pembrolizumab (Keytruda), was approved to treat tumors with a specific genetic fingerprint regardless of their location in the body. It was the first tissue-agnostic approval of a cancer drug, and it was a big shift for the … Continue reading “Drugs OK’d To Hit Tumor Genes Still a Basket of One. Are More Coming?”
Daiichi Sankyo’s Ken Truitt Joins ImmusanT as Chief Medical Officer
Ken Truitt has been appointed chief medical officer of immune drug developer ImmusanT. Truitt comes to the Cambridge, MA, biotech from Daiichi Sankyo, where he was senior vice president for internal medicine therapies. Before joining Daiichi Sankyo, Truitt was director of clinical research in the pulmonary-immunology division of Merck (NYSE: [[ticker:MRK]]). Last fall, ImmusanT raised … Continue reading “Daiichi Sankyo’s Ken Truitt Joins ImmusanT as Chief Medical Officer”
Engine Bio Hires Stephen Harrison as Chief Scientific Officer
Drug discovery startup Engine Biosciences has named Stephen Harrison chief scientific officer and senior vice president of the San Francisco company. Harrison most recently worked at Relypsa in Redwood City, CA, where he was chief scientific officer. His experience also includes positions at Nektar Therapeutics (NASDAQ: [[ticker:NKTR]]), KAI Pharmaceuticals, Chiron, and Thios. Engine Biosciences, which … Continue reading “Engine Bio Hires Stephen Harrison as Chief Scientific Officer”
Win Free Tickets to New York Biotech: Bringing Back the Expats!
We’re bringing the New York biotech community together once again for our latest life sciences event—and this time you’ve got a chance to win a free seat. New York Biotech: Bringing Back the Expats takes place at Riverpark at the Alexandria Center in New York on Thursday, June 21. We’ve brought together a few biopharma … Continue reading “Win Free Tickets to New York Biotech: Bringing Back the Expats!”
With $5.75M Start, Neighborhood Goods to Create Stores Within a Store
Dallas—A not-yet-open retailer called Neighborhood Goods announced it has raised $5.75 million to help develop what co-founder Matt Alexander calls the next evolution of the department store. Neighborhood Goods combines the flexibility of pop-up shops with the presence of a traditional retail space, he says. “What we’re doing is creating an ecosystem, wherein these brands … Continue reading “With $5.75M Start, Neighborhood Goods to Create Stores Within a Store”
Rackspace Veterans Reunite Years Later for Pingboard Seed Round
San Antonio and Austin—Almost two decades after Bill Boebel and Pat Matthews began a startup career that led to founding e-mail service Webmail.us, which was sold to cloud computing giant Rackspace in 2007, the college friends are working together again. Matthews’s new venture capital firm, San Antonio-based Active Capital, is leading a $2.5 million investment … Continue reading “Rackspace Veterans Reunite Years Later for Pingboard Seed Round”
CAMP4 Hauls in $30M to Map New Ground with Drug Discovery Tech
One way to understand the role genes play in disease is to think of the cells in our bodies as electronic circuits. The signaling pathways that either turn a cell’s genes on or off are like wires laid out to the nucleus of the cell, says Josh Mandel-Brehm, CEO of CAMP4 Therapeutics. Cambridge, MA-based CAMP4 … Continue reading “CAMP4 Hauls in $30M to Map New Ground with Drug Discovery Tech”
Insurers Are (Slowly) Preparing for Future World of Driverless Cars
When a self-driving Uber vehicle killed a pedestrian attempting to cross a dark, Phoenix-area street in March, it served as a wake-up call to a mobility industry moving at a furious pace to advance autonomous vehicle technologies. The fatality reinforced consumer skepticism of driverless cars, as evidenced by a recent survey conducted by CarGurus (more … Continue reading “Insurers Are (Slowly) Preparing for Future World of Driverless Cars”
IDO Don’ts: After Immunotherapy Failure, Experts Say Slow Down
One year ago, on the eve of the yearly American Society of Clinical Oncology conference, a new class of drugs called IDO inhibitors seemed poised to become the next big thing in cancer care. They were a top choice to combine with the powerful but limited immunotherapies that have emerged this decade to fight many … Continue reading “IDO Don’ts: After Immunotherapy Failure, Experts Say Slow Down”
With Launch of Dynam.AI, Analytics Ventures Shifts to New Model
The debut Wednesday of Dynam.AI, a San Diego startup offering its expertise in artificial intelligence, also marks a shift that has been underway for the past year or so at Analytics Ventures, a local fund that invests in tech deals. The small venture firm, which made traditional seed investments in a number of startups, including … Continue reading “With Launch of Dynam.AI, Analytics Ventures Shifts to New Model”
FDA Halts Plan for Vertex, CRISPR Therapeutics Sickle Cell Study
[Updated 5/31/18, 10:13 a.m. See below.] A Vertex Pharmaceuticals partnership with CRISPR Therapeutics to test a genetically engineered therapy as a treatment for patients who have sickle cell disease has been dealt a setback. The FDA placed a clinical hold on the application that Vertex (NASDAQ: [[ticker:VRTX]]) and CRISPR Therapeutics (NASDAQ: [[ticker:CRSP]]) submitted to start … Continue reading “FDA Halts Plan for Vertex, CRISPR Therapeutics Sickle Cell Study”
Settlement Ends Fight at Arcturus Therapeutics; New Board Named
The San Diego RNA drug developer Arcturus Therapeutics (NASDAQ: [[ticker:ARCT]]) named four new board members Tuesday, after the four directors who fired founding CEO Joseph Payne resigned as part of a settlement agreement that was approved Monday by an Israeli court. The agreement, announced in a statement from Arcturus, ostensibly brings an end to a … Continue reading “Settlement Ends Fight at Arcturus Therapeutics; New Board Named”
Propeller Health Raises $20M to Move Beyond Respiratory Disease
[Updated 5/30/18 7:53 a.m. See below.] Since launching in 2010, Propeller Health has kept its focus on developing connected devices and complementary software for patients with respiratory disease. But that could soon change, following Madison, WI-based Propeller’s announcement on Wednesday that it plans to work with Aptar Pharma to develop digital health products for treating … Continue reading “Propeller Health Raises $20M to Move Beyond Respiratory Disease”
Eying Clinical Trials, Shattuck Labs Adds $46M for Immunotherapy R&D
Austin — [Updated 5/30/18, 11:08 a.m. See below.] Shattuck Labs, a biotech that licensed technology from cancer drug developer Heat Biologics, added a cash windfall right before the holiday weekend—a $46.6 million equity round of financing, according to a May 25 securities filing. Austin-based Shattuck has an experimental immunotherapy in preclinical development that it believes can … Continue reading “Eying Clinical Trials, Shattuck Labs Adds $46M for Immunotherapy R&D”
Smart-Kitchen Startups Give Cooks Digital Help Via Internet of Things
When it comes to connected homes, the hottest spot is located in your kitchen. The Internet of Things, artificial intelligence, and related technologies are being used to connect ovens, refrigerators, and other kitchen appliances to the Web. Feeling unsure about cooking that fish dish? Smart ovens can more accurately calibrate temperatures to avoid over-cooking. There’s … Continue reading “Smart-Kitchen Startups Give Cooks Digital Help Via Internet of Things”
Ex-Endurance Execs Grab $12M for New Software Startup iSubscribed
A group of former Endurance International Group executives has raised $12.1 million in venture capital to jumpstart a new tech company called iSubscribed. The investment was revealed in a recent document filed with the SEC, and iSubscribed managing partner Hari Ravichandran confirmed the funding in a LinkedIn message. He declined to share more details. Ravichandran … Continue reading “Ex-Endurance Execs Grab $12M for New Software Startup iSubscribed”