Earlier this month, we held our annual “Meet the Xconomists” reception in Boston. This event is where we invite a mix of business leaders across tech, life sciences, and other sectors to network and trade ideas with our informal editorial advisors (we call them the Xconomists). It’s always a great crowd, and this year’s was … Continue reading “Meet the Xconomists 2018 in Boston: The Photos”
Roche Up, J&J Down as Cancer Drug Combos Yield More Mixed Results
Clinical testing of drug combinations that utilize cancer immunotherapies rolled on this weekend with mixed results. One Phase 3 study from Roche/Genentech in lung cancer succeeded, while another from Genmab and partner Johnson & Johnson spelled trouble for another possible drug combination. Roche’s South San Francisco, CA, Genentech unit said its IMpower130 study, which combines … Continue reading “Roche Up, J&J Down as Cancer Drug Combos Yield More Mixed Results”
Epic, Foxconn, Thermo Fisher & More: This Week’s Wisconsin Watchlist
Catch up on news from Wisconsin’s innovation community with these recent headlines: —The United States Supreme Court ruled in favor of Verona-based Epic Systems and two other corporations in a case that examined whether it’s legal for organizations to require their employees to sign arbitration agreements that keep them from pursuing group claims in court. Groups of … Continue reading “Epic, Foxconn, Thermo Fisher & More: This Week’s Wisconsin Watchlist”
Rare Disease Biotechs Avrobio, Eidos Therapeutics File for IPOs
Avrobio and Eidos Therapeutics, rare disease drug developers on opposite sides of the country, have filed for initial public offerings, each company aiming to raise cash to finance more clinical tests of its lead drug. Cambridge, MA-based Avrobio set a preliminary $86 million target for its IPO, according to its prospectus filed Friday. The gene … Continue reading “Rare Disease Biotechs Avrobio, Eidos Therapeutics File for IPOs”
Mitek Systems Building New Business in Verifying Online Identities
A few years before the presidential election of 2016, with all its Wikileaks, Russian disinformation campaigns, and phony Facebook links, San Diego’s Mitek Systems (NASDAQ: [[ticker:MITK]] made a strategic decision to expand into identity verification technology. Funny how things work out. While mobile banking technology still represents 60 percent of Mitek’s business, COO Kalle Marsal … Continue reading “Mitek Systems Building New Business in Verifying Online Identities”
Q&A: Don Layden Talks VC Trends, Exits, Foxconn’s ‘Long Tail’ & More
Don Layden has lived and worked in greater Milwaukee long enough to feel like he’s got a pretty good grasp of the area’s strengths, weaknesses, and defining qualities. Layden graduated from Marquette University Law School in 1982, then worked his way up to partner at the law firm Quarles & Brady. He later served in … Continue reading “Q&A: Don Layden Talks VC Trends, Exits, Foxconn’s ‘Long Tail’ & More”
Bio Roundup: Brii Does China, Hemophilia Updates, Right to Try & More
Sometimes disruption comes in waves. Since the 1990s, hemophilia patients have had to inject themselves with drugs a few times a week to prevent dangerous internal bleeding. That could soon change. One drug already approved, from Roche, may only need to be taken once a month by hemophilia A patients. Another experimental therapy from Alnylam … Continue reading “Bio Roundup: Brii Does China, Hemophilia Updates, Right to Try & More”
Pfizer, Merck Lead Strata Oncology’s $26M Series B Round
In what company leaders describe as a “huge step,” Ann Arbor, MI-based precision medicine startup Strata Oncology this week closed a $26 million Series B investment round led by Pfizer Ventures and the Merck Global Health Innovation Fund. Other contributors to the round include Deerfield Management, Renaissance Venture Capital Fund, Arboretum Ventures, and Baird Capital. … Continue reading “Pfizer, Merck Lead Strata Oncology’s $26M Series B Round”
Boston Tech Watch: OM1, Tidelift, Notarize, Iboss, Elucidata & More
Before everyone checks out for the long weekend, let’s catch up on some recent Boston-area tech news: —Healthcare technology startup OM1 announced it closed a $21 million Series B funding round led by Polaris Partners, which invested alongside earlier OM1 backers, including General Catalyst Partners and 7wire Ventures. Polaris’s Dave Barrett will join OM1’s board. … Continue reading “Boston Tech Watch: OM1, Tidelift, Notarize, Iboss, Elucidata & More”
Immunotherapy Biotech Kiromic Considers San Antonio Move for Cash
San Antonio — [Updated 5/31/18, 4:20 p.m. See below.] Kiromic, a Houston-based biotech company with artificial intelligence software that it’s using to develop two experimental cancer immunotherapies, may move to San Antonio—if it gets $200,000 from a city-operated economic development group. The money isn’t free. In exchange, Kiromic will give the San Antonio Economic Development Corporation—an … Continue reading “Immunotherapy Biotech Kiromic Considers San Antonio Move for Cash”
Request Your Invite for Our Napa Summit, June 14-15
In two and a half weeks, Xconomy will host our seventh annual Napa Summit: The Xconomy Retreat on Technology, Jobs, and Growth. In the heart of California’s wine country, it is our most exclusive, intimate, and unique conference. There are only a few tickets left—so request your invitation today to join fellow exemplary executives, innovators, … Continue reading “Request Your Invite for Our Napa Summit, June 14-15”
Paddy Power to Buy FanDuel After Supreme Court Paves Way for Betting
[Updated 5/24/18, 3:16 pm. See below.] The dominoes are starting to fall in the wake of a U.S. Supreme Court decision this month that opened the door for states to legalize sports gambling. FanDuel has agreed to be acquired by Ireland-based Paddy Power Betfair, a global sports betting and gaming company. New York-based FanDuel is … Continue reading “Paddy Power to Buy FanDuel After Supreme Court Paves Way for Betting”
Fishidy, Developer of Tech That Aids Anglers, Sold to Flir Systems
Fishidy, a startup that has developed map-based tools to help fishing enthusiasts document and share information, was acquired in April by Flir Systems, a developer of thermal imaging cameras and sensors. That’s according to Don Layden, an operating partner at Baird Venture Partners who invested in Madison, WI-based Fishidy as an individual. None of the … Continue reading “Fishidy, Developer of Tech That Aids Anglers, Sold to Flir Systems”
Bloom Science Plans to Advance Microbial Treatment for Epilepsy
Bloom Science, a biotech founded to advance a new class of microbe-based therapeutics for neurological disorders, is making its debut today with the publication of research that suggests certain bacteria in the gut could be used to manage epileptic seizures. The research, published in the journal Cell, indicate that several specific strains of bacteria work … Continue reading “Bloom Science Plans to Advance Microbial Treatment for Epilepsy”
Renaissance VC Adds $81M to Draw More Outside Capital to Michigan
Renaissance Venture Capital Fund, an Ann Arbor, MI-based fund-of-funds, has racked up another $81 million after closing its third capital round last week. The firm has raised a total of $205 million since it was established in 2008, says CEO and fund manager Chris Rizik. Renaissance invests in VC funds across the country in order to … Continue reading “Renaissance VC Adds $81M to Draw More Outside Capital to Michigan”
Biotech IPOs Roll On as Kiniksa, Scholar Rock Get $227M Combined
The IPO window remains wide open for biotechs. Two more, Kiniksa Pharmaceuticals and Scholar Rock, make their Wall Street debuts this morning having raised $227 million combined in their IPOs last night. Kiniksa exceeded its funding goals. The Lexington, MA, company sold 1.44 million more shares than it projected, or 8.44 million total, at $18 … Continue reading “Biotech IPOs Roll On as Kiniksa, Scholar Rock Get $227M Combined”
Brii Biosciences Debuts with a China Pharma Strategy Backed by $260M
Growing up in China, Zhi Hong saw the healthcare challenges of his homeland firsthand. Despite the country’s economic strides, life science innovation there lags advances made in the West, he says. The GlaxoSmithKline veteran now wants to use his experience to adjust the balance. Backed by $260 million in financing, his startup, Brii Biosciences, plans … Continue reading “Brii Biosciences Debuts with a China Pharma Strategy Backed by $260M”
A.I. for Healthcare Gets Even More Crowded as GV Invests in Owkin
More money continues to flow into startups seeking to harness the massive amount of data available in healthcare using artificial intelligence and machine learning. This time, GV, the venture capital arm of Google parent Alphabet, is adding about $7 million to the Series A round for Owkin, bringing its total funding to $18 million. Owkin, … Continue reading “A.I. for Healthcare Gets Even More Crowded as GV Invests in Owkin”
Superpedestrian Scoops Up $16.5M, Enters Bike-Sharing Frenzy
Bike sharing is the new ride hailing. Similar to what has played out with Uber, Lyft, Didi Chuxing, and other private car-hailing app companies, investors are pumping hundreds of millions of dollars into bike-sharing startups around the world racing to be the leading operator of fleets of bicycles that people can rent on demand. The … Continue reading “Superpedestrian Scoops Up $16.5M, Enters Bike-Sharing Frenzy”
Gilead’s Norbert Bischofberger Named Kronos Bio CEO
Norbert Bischofberger has been named president and CEO of Kronos Bio. Bischofberger comes to the Cambridge, MA, cancer drug developer from Gilead Sciences (NASDAQ: [[ticker:GILD]]), where he was executive vice president of research and development and chief scientific officer. In March, Gilead announced that Bischofberger, who had worked at Gilead for nearly 30 years, would … Continue reading “Gilead’s Norbert Bischofberger Named Kronos Bio CEO”
Five Prime Promotes Bryan Irving to Chief Scientific Officer
Bryan Irving is now executive vice president and chief scientific officer of Five Prime Therapeutics (NASDAQ: [[ticker:FPRX]]). Irving first joined South San Francisco-based Five Prime last year as vice president of research. His experience also includes posts at CytomX Therapeutics (NASDAQ: [[ticker:CTMX]]) and Genentech. Clinical-stage Five Prime develops protein therapies to treat cancer and inflammatory … Continue reading “Five Prime Promotes Bryan Irving to Chief Scientific Officer”
Amid Housing Boom, Hometap Raises $12M to Buy a Piece of Your Home
[Updated 5/23/18, 9:40 am. See below.] Jeff Glass is back in the CEO chair at a startup, and this time he’s venturing into one of the oldest and, at the moment, hottest industries: real estate. Glass is an entrepreneur and investor who is well-known in Boston tech circles for leading m-Qube, the mobile content-delivery company … Continue reading “Amid Housing Boom, Hometap Raises $12M to Buy a Piece of Your Home”
Ahead of ASCO, Merck Touts Another Win for Lung Cancer Drug Combo
The rapidly changing treatment landscape for lung cancer could soon change again. This morning, Merck (NYSE: [[ticker:MRK]]) announced that a Phase 3 study called Keynote-407 has succeeded. The trial tested a combination of its immunotherapy pembrolizumab (Keytruda) and chemotherapy in 560 patients just diagnosed with advanced, squamous non-small cell lung cancer. Merck didn’t disclose specifics, … Continue reading “Ahead of ASCO, Merck Touts Another Win for Lung Cancer Drug Combo”
Check Out the Agenda for New York Biotech: Bringing Back the Expats
We’ve just posted the agenda for New York Biotech: Bringing Back the Expats, which is set for June 21 at Riverpark at the Alexandria Center in New York. We are bringing together a few biopharma leaders who are ex-New Yorkers to lead a unique, candid discussion with the local biotech community. Why did they leave … Continue reading “Check Out the Agenda for New York Biotech: Bringing Back the Expats”
CAR-T’s Launch, Payers vs. Gene Therapy & Photos From “What’s Hot”
CAR-T. Gene therapy. RNA interference. These aren’t just science experiments. They’re real, cutting-edge medicines either just on the market or soon to be. And the implications of their arrival was the focus of a few spirited discussions at Xconomy’s “What’s Hot in Boston Biotech” event last week at the Broad Institute in Cambridge, MA. Today, … Continue reading “CAR-T’s Launch, Payers vs. Gene Therapy & Photos From “What’s Hot””
Madrona Raises $300M Fund to Back Tech Startups in Seattle and Beyond
Madrona Venture Group, one of the most active venture capital firms based in the Seattle area, said Tuesday that it has raised a new, $300 million fund to support early stage technology businesses in the region and beyond. Madrona had previously raised two separate $300 million investment funds (in 2012 and 2015) as well as … Continue reading “Madrona Raises $300M Fund to Back Tech Startups in Seattle and Beyond”
Amazon, Bedrock Announce Projects Tied to MI Strategic Fund Awards
Amazon will invest $150 million in a new package fulfillment center on the west side of Michigan, the tech giant announced today. Amazon (NASDAQ: [[ticker:AMZN]]) said it will lease a 100-acre site in Gaines Township from Steelcase, a Grand Rapids, MI-based furniture maker. A third-party developer will construct the facility. The Michigan Strategic Fund (MSF), … Continue reading “Amazon, Bedrock Announce Projects Tied to MI Strategic Fund Awards”
Seeking Firmer Grip on E-Commerce Market, Adobe Buys Magento
Adobe has made a big bet emphasizing the “shop” part of its best-known product. The maker of the Photoshop suite of software announced late Monday it is buying fellow Bay Area firm Magento Commerce for $1.68 billion to gain a larger foothold in the growing e-commerce industry, which is now dominated by Salesforce and Oracle … Continue reading “Seeking Firmer Grip on E-Commerce Market, Adobe Buys Magento”
San Antonio Program for “Pre-Incubator” Startups Reveals First Class
San Antonio — Two Texas startup programs are teaming up to run a “pre-incubator” for startups that are still developing their business ideas. Called the Velocity360 program, the incubator is run over eight weeks by VelocityTX and its partner, EPIcenter. Entrepreneurs will work with VelocityTX and EPIcenter once a week on the viability of their ideas … Continue reading “San Antonio Program for “Pre-Incubator” Startups Reveals First Class”
Bloxvox’s Voice-Dampening Device Gives Users Privacy During Calls
Many people who spend a significant amount of time on the phone at work use headphones or a headset so they can go hands-free during calls and type as they talk. While they have yet to enter the mainstream, there are also devices that fit over the mouth and allow phone talkers to muffle their … Continue reading “Bloxvox’s Voice-Dampening Device Gives Users Privacy During Calls”
New Silverton Fund, Brunner to Phunware, HEB Adds CDO & More TX Tech
Let’s get caught up with the latest innovation news from Xconomy Texas. —Austin, TX-based venture firm Silverton Partners announced it has closed on a $108 million fund, which it will use to invest in startups in the enterprise and consumer technology sectors. Silverton says that since its founding in 2006, the firm has made more … Continue reading “New Silverton Fund, Brunner to Phunware, HEB Adds CDO & More TX Tech”
With $300M in New Round, Total Venture Funding at Grail Tops $1.5B
Grail, the Illumina (NASDAQ: [[ticker:ILMN]]) spinout that merged last year with China’s Cirina, has raised an additional $300 million to advance its ambitious quest to develop a blood test sensitive enough to detect cancer. The Hong Kong-based Ally Bridge Group led the Series C financing round, which brings total funding for Grail to more than … Continue reading “With $300M in New Round, Total Venture Funding at Grail Tops $1.5B”
Arcturus Board Schedules New Proxy Showdown with Ousted CEO
After postponing a May 7 shareholder vote in a power struggle for control of San Diego’s Arcturus Therapeutics (NASDAQ: [[ticker:ARCT]]), the company’s board of directors has set a new date for its showdown with ousted CEO Joseph Payne. In a statement Monday, Arcturus said it has rescheduled its special shareholder meeting for 10 a.m. on … Continue reading “Arcturus Board Schedules New Proxy Showdown with Ousted CEO”
Magenta’s Bastiano Sanna Appointed Semma Therapeutics CEO
Bastiano Sanna has been named CEO and president of Semma Therapeutics. Elizabeth Stoner, who has been serving as interim CEO, will remain as an advisor to the company. Sanna comes to Cambridge, MA-based Senna from Magenta Therapeutics, where he was chief operating officer. His experience also includes positions at Novartis (NYSE: [[ticker:NVS]]). Semma is developing … Continue reading “Magenta’s Bastiano Sanna Appointed Semma Therapeutics CEO”
ORIC Pharmaceuticals Appoints Jacob Chacko CEO
Jacob Chacko has joined ORIC Pharmaceuticals to become the cancer drug developer’s CEO. Rich Heynman, who had been interim CEO, will now become chairman of the San Francisco company’s board of directors. Chacko was most recently chief financial officer of Ignyta, which was acquired by Roche earlier this year. ORIC, which stands for “overcoming resistance … Continue reading “ORIC Pharmaceuticals Appoints Jacob Chacko CEO”
IU Spinout Vascugen Turns to Stem Cells for Blood Vessel Repair
Vascular-degenerative diseases such as critical limb ischemia are on the rise in the United States, but the millions of people affected by these disorders worldwide have limited treatment options and no cures. An regenerative medicine startup spun out of Indiana University called Vascugen is seeking to change that. Indianapolis-based Vascugen has licensed technology developed at … Continue reading “IU Spinout Vascugen Turns to Stem Cells for Blood Vessel Repair”
Iora Health Goes Big With $100M to Advance Collaborative Care Model
Iora Health has become of the bigger players in digital healthcare and non-traditional health systems. The Boston company just announced a $100 million Series E funding round from investors including .406 Ventures, Devonshire Investors, F-Prime Capital, Flare Capital Partners, and GE Ventures. Most (if not all) of those are returning investors in Iora, which now … Continue reading “Iora Health Goes Big With $100M to Advance Collaborative Care Model”
Mobileye Sets Safety-Based Rules of the Road for Self-Driving Tech
It’s been a busy year for Jerusalem-based Mobileye since Intel (NASDAQ: [[ticker:INTC]]) completed its $15.3-billion acquisition of the Israeli specialist in autonomous navigation technology. In a recent update, Mobileye co-founder and CTO Amnon Shashua said the company has almost doubled its workforce since the buyout. It plans to begin testing its self-driving technology in California … Continue reading “Mobileye Sets Safety-Based Rules of the Road for Self-Driving Tech”
What’s Hot in Seattle Biotech: Here’s the Agenda for the June 12 Event
Seattle’s innovation economy has dual identities: the technology sector that develops the hardware and software that comprise our increasingly digital lives, and the biotechnology sector that is searching for new ways to treat disease. The convergence of those fields makes the Puget Sound region a hotbed of activity. We will take a look at some … Continue reading “What’s Hot in Seattle Biotech: Here’s the Agenda for the June 12 Event”
NewStore Bags $20M After Ex-Victoria’s Secret, TJX CEOs Join Board
[Updated 5/21/18, 3:43 pm. See below.] Mobile commerce startup NewStore has hauled in $20 million in fresh venture capital, according to a document filed with the SEC. That brings the Boston-based company’s funding total to around $109 million, according to SEC filings. Its previous backers include Activant Capital, General Catalyst Partners, and Stephan Schambach, NewStore’s … Continue reading “NewStore Bags $20M After Ex-Victoria’s Secret, TJX CEOs Join Board”
Data Could Make Roche Drug a Hemophilia Standard, But for How Long?
It’s been a bumpy ride for emicizumab (Hemlibra) in 2018. The Roche/Genentech drug, approved by the FDA in late 2017, has a chance to become the choice treatment for people with hemophilia A, and new data today help that case. But will safety concerns and emerging competition blunt its rise? At the World Federation of … Continue reading “Data Could Make Roche Drug a Hemophilia Standard, But for How Long?”
Aiming to Digitize Term Life Insurance Industry, Bestow Raises $15M
Dallas—Melbourne O’Banion, co-founder and CEO of Bestow, sees opportunity in using analytics to bring the insurance industry into the 21st century. To that end, the Dallas-based startup announced today it’s raised $15 million in a Series A funding round led by Valar Ventures, with participation from existing investors New Enterprise Associates (NEA), Core Innovation Capital, … Continue reading “Aiming to Digitize Term Life Insurance Industry, Bestow Raises $15M”
Microsoft Snaps Up Semantic Machines to Push Conversational A.I.
[Updated 5/21/18, 3:16 pm. See below.] Microsoft said it has acquired “conversational A.I.” startup Semantic Machines, as it tries to bolster its artificial intelligence capabilities in its longstanding competition with Google, Apple, Amazon, Baidu, and other tech leaders. The purchase price wasn’t disclosed in a Microsoft blog post announcing the deal on Sunday. Semantic Machines … Continue reading “Microsoft Snaps Up Semantic Machines to Push Conversational A.I.”
Fixing the Clinical Trial Bottleneck by Making Patients a Priority
The world of medicine and drug development has transformed dramatically over the past 50 years. Today, we have biologic medicines, genomic sequencing technologies, and digital health tools that help patients become more engaged in their care. But one part of the equation hasn’t seen very much change at all: clinical trials. Clinical trials are a … Continue reading “Fixing the Clinical Trial Bottleneck by Making Patients a Priority”
Bright Cellars, AmFam, Coinigy & More: This Week’s WI Watchlist
Stay current on news from Wisconsin’s innovation community with these recent headlines: —Bright Cellars, a monthly wine club that seeks to help its subscribers develop more sophisticated palates, said it raised a $2.8 million funding round. Participating investors included Chicago-based Cleveland Avenue, Northwestern Mutual’s Cream City Venture Capital fund, and return backer CSA Partners. Richard … Continue reading “Bright Cellars, AmFam, Coinigy & More: This Week’s WI Watchlist”
U-M Students, Faculty Building Driverless Shuttle with Industry Help
Late last month, the University of Michigan-Dearborn unveiled a new autonomous shuttle project called MDAS.ai, in which students and faculty will build a driverless vehicle for low-speed, pedestrian-filled environments. Made possible through a collective $100,000 contribution from Osram Opto Semiconductors, Phantom Intelligence, Jungo Connectivity, and Vergence Automation, the project is designed to help students, researchers, … Continue reading “U-M Students, Faculty Building Driverless Shuttle with Industry Help”
Ojo Labs, AI-Enabled Chatbot Maker for Real Estate, Raises $20.5M
Austin—Ojo Labs, which is developing artificial intelligence-enabled chatbots designed for the real estate industry, has raised $20.5 million. The new Series B funding round comes from investors such as Realogy Holdings, Royal Bank of Canada, Northwestern Mutual Future Ventures, and ServiceMaster, along with Texas venture capital firms LiveOak Venture Partners and Silverton Partners. Ojo Labs … Continue reading “Ojo Labs, AI-Enabled Chatbot Maker for Real Estate, Raises $20.5M”
Aided By Facebook Ads, Wantable Carves Out Niche in Online Fashion
When it comes to advertising on the Web, Google remains king. But second-place Facebook has rapidly been narrowing the gap. From 2012 to 2017, Facebook’s (NASDAQ: [[ticker:FB]]) ad revenues increased 833 percent, to $39.9 billion, according to Statista.com. That’s compared with a 118 percent growth rate in Google’s (NASDAQ: [[ticker:GOOGL]]) online ad sales over the … Continue reading “Aided By Facebook Ads, Wantable Carves Out Niche in Online Fashion”
Merck’s Roger Dansey Joins Seattle Genetics as Chief Medical Officer
Roger Dansey has been appointed chief medical officer of Seattle Genetics (NASDAQ: [[ticker:SGEN]]). Dansey comes to Bothell, WA-based SeaGen from Merck (NYSE: [[ticker:MRK]]), where he was a senior vice president in oncology. Dansey succeeds Jonathan Drachman, who will continue working with SeaGen as a strategic advisor. SeaGen develops and sells cancer therapies based on its … Continue reading “Merck’s Roger Dansey Joins Seattle Genetics as Chief Medical Officer”
C4 Therapeutics Promotes Stewart Fisher to Chief Scientific Officer
Stewart Fisher has been promoted to chief scientific officer of C4 Therapeutics. Fisher joined Watertown, MA-based C4 in 2016 as senior vice president of discovery sciences. Before working at C4, Fisher held positions at the Broad Institute and AstraZeneca (NYSE: [[ticker:AZN]]). C4 emerged in 2016 with a $73 million Series A round of financing to … Continue reading “C4 Therapeutics Promotes Stewart Fisher to Chief Scientific Officer”