Autonomic, the Silicon Valley startup acquired in February by Ford Smart Mobility, announced growth plans for its Web-based transportation app development platform today, and a reshuffling of its leadership team. The new CEO is Gavin Sherry, who will steer an expansion of the Ford subsidiary’s Transportation Mobility Cloud, a software development hub that will be … Continue reading “New CEO in Driver’s Seat as Autonomic Scales Up Mobility Cloud”
Synlogic CEO Gutierrez-Ramos Resigns, Brennan Named Interim Chief Exec
Jose Carlos Gutierrez-Ramos has stepped down as president and CEO of Synlogic (NASDAQ: [[ticker:SYBX]]). The Cambridge, MA, synthetic biology company gave no reason for his resignation, which includes his seat on the board of directors. But Synlogic said in a news release that Gutierrez-Ramos will “serve in an advisory capacity as needed.” Aoife Brennan, Synlogic’s … Continue reading “Synlogic CEO Gutierrez-Ramos Resigns, Brennan Named Interim Chief Exec”
Mallinkrodt’s Gary Phillips Joins OrphoMed as President & CEO
Gary Phillips has been named president and CEO of San Francisco-based OrphoMed. Phillips comes to OrphoMed from Mallinckrodt Pharmaceuticals (NYSE: [[ticker:MNK]]) where he was executive vice president and chief strategy officer. With the Phillips hire, OrphoMed’s founder, Nikhilesh Singh, is taking on the newly created position of chief scientific officer. OrphoMed’s lead drug, ORP-101, is … Continue reading “Mallinkrodt’s Gary Phillips Joins OrphoMed as President & CEO”
Austin’s NarrativeDx Adds $1.1M for Hospital-Improvement A.I. Tool
Austin—NarrativeDx, a startup whose software helps hospitals analyze patient feedback to improve or prevent problems related to their experiences, has added about $1.1 million in an equity financing, according to a federal securities filing. The Austin, TX-based company says it uses natural language processing and machine learning software to collect and analyze patient feedback about … Continue reading “Austin’s NarrativeDx Adds $1.1M for Hospital-Improvement A.I. Tool”
Exact Sciences CEO Conroy Talks Growth, Foxconn, Startups & More
Kevin Conroy left a law firm job in his early 30s, right after he had just made partner, to work for a venture capital-backed startup in California called Outcomes. The outcome was not what Conroy had hoped. About a year later, the business ran out of money and went bust. Even so, Conroy, now the … Continue reading “Exact Sciences CEO Conroy Talks Growth, Foxconn, Startups & More”
Greentown Expands Space for “Scrappy” Cleantech Startups: Photos
It takes perseverance to make it in cleantech, perhaps even more in recent years than before. Venture capitalists have scaled back their cleantech investments since 2011, thanks in part to big failures like Solyndra and macro trends like cheaper natural gas and solar panels, according to a Brookings Institution report last year. That has led … Continue reading “Greentown Expands Space for “Scrappy” Cleantech Startups: Photos”
USA Today Owner Gannett to Buy Digital Marketer WordStream for $130M
WordStream, one of the veterans of Boston’s digital marketing sector, is being acquired by Gannett, the publisher of USA Today and a network of local newspapers around the country. McLean, VA-based Gannett (NYSE: [[ticker:GCI]]) said it has agreed to pay $130 million in cash, net of cash acquired, plus up to $20 million in additional … Continue reading “USA Today Owner Gannett to Buy Digital Marketer WordStream for $130M”
Ascape Audio Debuts iPhone Battery Case with Built-In Wireless Earbuds
When we last checked in with Paul Schrems and the team behind Turtle Cell, the Ann Arbor, MI-based consumer electronics startup, it was the summer of 2014. After coming off a year of iteration and business-competition wins, as well as a stint in the University of Michigan’s Desai Accelerator, the company was preparing for a … Continue reading “Ascape Audio Debuts iPhone Battery Case with Built-In Wireless Earbuds”
With $1.6B Armo Buy, Eli Lilly Is the Latest to Bet Big on Cytokines
Eli Lilly is making a splash in the fast-moving, highly competitive field of cancer immunotherapy. With a $1.6 billion cash deal to acquire Armo BioSciences, the Indianapolis company has placed one of the boldest bets yet that cytokine drugs could be critical in expanding immunotherapy’s reach. This morning, Lilly (NYSE: [[ticker:LLY]]) agreed to pay $50 … Continue reading “With $1.6B Armo Buy, Eli Lilly Is the Latest to Bet Big on Cytokines”
Roche-Exelixis Study Fails as Mixed Year Continues For Cancer Drug Combos
This year is a big one for cancer drug combinations, and the results, so far, have been mixed. Some combinations have shown they may change how certain cancers are treated. Others are falling flat in clinical testing. The latest to come up short is a regimen of Roche/Genentech and Exelixis cancer drugs that failed a … Continue reading “Roche-Exelixis Study Fails as Mixed Year Continues For Cancer Drug Combos”
Fuze Bags $150M as Business Communications Competition Heats Up
Another year, another $100 million-plus funding round for Fuze, the cloud-based business communications software company. Boston-based Fuze said Wednesday evening that it recently raised a $150 million equity funding round led by Summit Partners, which was joined in the investment by other previous Fuze backers, including Bessemer Venture Partners. Fuze pulled in a $134 million … Continue reading “Fuze Bags $150M as Business Communications Competition Heats Up”
Logo-Building Business Tailor Brands Rides A.I. Wave to $15.5M
Tailor Brands, an artificial intelligence startup that creates logos and develops brands for businesses, has raised a $15.5 million Series B round of funding, bringing its total financing amount to $20.6 million, according to a news release. The company, which has offices in New York and Tel Aviv, plans to use the money to make … Continue reading “Logo-Building Business Tailor Brands Rides A.I. Wave to $15.5M”
Tome, Trek, Ford Collaborate on Bike-to-Vehicle Safety Standards
Last fall, Royal Oak, MI-based software startup Tome teamed up with Ford and Wisconsin’s Trek to work on B2V (bike-to-vehicle) technology that will help self-driving cars to better perceive cyclists on the road. Tome CEO Jake Sigal, a passionate cyclist who spends much of his free time biking, says teaching cars to see and anticipate … Continue reading “Tome, Trek, Ford Collaborate on Bike-to-Vehicle Safety Standards”
Intel Capital Showcases 12 Startups, Shift to Data-Centric Strategy
The temperature in California’s Palm Desert hit 107 degrees Tuesday, but indoors at Intel Capital’s Global Summit meeting, the corporate venture arm said it has invested a cool $115 million so far this year. Intel Capital wasn’t ready to disclose exactly how many startups it has funded, but it highlighted a dozen tech companies that … Continue reading “Intel Capital Showcases 12 Startups, Shift to Data-Centric Strategy”
An Inside Look at CAR-T, Gene Therapy Launches at ‘What’s Hot’ May 16
Getting a new drugmaking technology through clinical development and to market is a major milestone, the culmination of years of scientific work. But the true test of how important that technology is comes afterwards, when the real world gets its hands on it. This type of story is playing out either right now, or soon … Continue reading “An Inside Look at CAR-T, Gene Therapy Launches at ‘What’s Hot’ May 16”
Intel Leads $20M Investment in Transparent A.I. Startup Gamalon
Gamalon, a startup that says it has developed artificial intelligence-like software that avoids some of the drawbacks of popular machine learning techniques, has received a big endorsement of its approach. On Tuesday, the Cambridge, MA-based company announced a $20 million Series A funding round led by Intel Capital. Other backers of the round included .406 … Continue reading “Intel Leads $20M Investment in Transparent A.I. Startup Gamalon”
Evelo IPO Raises $85M for Microbiome Drugs in Inflammation, Cancer
Evelo Biosciences now has $85 million to spend on its pipeline of drugs that target the human microbiome. The Cambridge, MA-based biotech priced its initial public offering of 5.3 million shares at $16, right at the midpoint of the $15 to $17 range it had previously set. Evelo’s shares are expected to begin trading on … Continue reading “Evelo IPO Raises $85M for Microbiome Drugs in Inflammation, Cancer”
Rapamycin Holdings Plans Tests of Old Immune Drug in Prostate Cancer
San Antonio — Executives at Rapamycin Holdings believe a decades-old drug used to prevent organ transplant rejection could find a new use as a treatment for prostate cancer, and hope to begin a clinical trial as soon as this summer. San Antonio-based Rapamycin Holdings has developed a new formulation of the drug, also called rapamycin, which … Continue reading “Rapamycin Holdings Plans Tests of Old Immune Drug in Prostate Cancer”
Akili Grabs $55M, Seeking FDA Approval of First Video Game Therapy
[Corrected 5/9/18, 9:59 am. See below.] Akili Interactive Labs has scooped up another pile of cash to help bring its first product to the market: an experimental mobile video game aimed at assessing and treating attention deficit hyperactivity disorder. Boston-based Akili said Wednesday it closed a $55 million Series C funding round led by Singapore-based … Continue reading “Akili Grabs $55M, Seeking FDA Approval of First Video Game Therapy”
Moderna’s Billions: Will Building Big Before an IPO Pay Off?
When Merck invested $125 million and deepened its ties with Moderna Therapeutics last week, it was more than just an evolution of the relationship between the two companies. It continued a high-stakes strategy by Cambridge, MA-based Moderna and its backers, and made them a case study for a rarely used method of company-building in biotech: … Continue reading “Moderna’s Billions: Will Building Big Before an IPO Pay Off?”
ThoughtSpot Nabs $145M To Democratize A.I.-Driven Data Analysis
ThoughtSpot, which enables its clients’ ordinary staffers to conduct advanced data analysis to inform their business decisions, announced today that it has raised $145 million in a Series D funding round. The big funding infusion will help ThoughtSpot expand its global customer base, and it’s also good news for the company’s R&D and commercialization centers … Continue reading “ThoughtSpot Nabs $145M To Democratize A.I.-Driven Data Analysis”
Fictiv Raises $15M To Connect Tech Innovators & Parts Manufacturers
Fictiv, a San Francisco software startup that links hardware developers with parts manufacturers in China, announced Tuesday that it has raised $15 million in a Series B funding round led by a China-based investment firm, alongside investments from well-known American tech backers such as Bill Gates and Intel. Fictiv’s goal is to speed up the … Continue reading “Fictiv Raises $15M To Connect Tech Innovators & Parts Manufacturers”
Steve Case: Focus on Dallas Startups that “Might Be the Next Amazon”
Dallas—Steve Case brought his Rise of the Rest tour to Dallas Monday, mingling with business and political leaders and offering advice to entrepreneurs who hope to join their ranks. “Dallas is clearly on the rise,” Case told an assembled group of entrepreneurs at Dallas brewery and taproom Community Beer Co. Still, that progress is endangered … Continue reading “Steve Case: Focus on Dallas Startups that “Might Be the Next Amazon””
Medical Engineering Innovations Raising $1.2M for Cancer Removal Tools
[Updated 5/16/18 8:14 a.m. See below.] Medical Engineering Innovations, a Madison, WI-based developer of medical devices that use radio frequency energy to remove cancer from the liver, is in the process of raising a $1.2 million Series A funding round, says Richard Schmidt, the startup’s president and CEO. Champaign, IL-based Serra Ventures is leading the equity funding round, … Continue reading “Medical Engineering Innovations Raising $1.2M for Cancer Removal Tools”
Takeda Strikes $62B Deal to Acquire Rare Disease Drug Maker Shire
Takeda Pharmaceutical has reached an agreement to acquire Shire after raising its offer for the rare disease drug company. Under the cash and stock agreement, Osaka, Japan-based Takeda will pay $30.33 in cash for each share of Shire (NASDAQ: [[ticker:SHPG]]). Shire shareholders will also receive 0.839 new Takeda shares or 1.678 Takeda American Depository Shares, … Continue reading “Takeda Strikes $62B Deal to Acquire Rare Disease Drug Maker Shire”
Buoy Health, CVS Partner on Chatbot That Helps Patients Find Care
Virtual assistants seem to be everywhere one turns today, both online and in the physical world. From voice-controlled gadgets like Google (NASDAQ: [[ticker:GOOGL]]) Home and Amazon’s (NASDAQ: [[ticker:AMZN]]) Echo to the virtual chatbots some organizations’ websites use to greet visitors, these tools are attempting to help people get their questions answered more quickly. But some … Continue reading “Buoy Health, CVS Partner on Chatbot That Helps Patients Find Care”
Seismic Acquires Savo Group, Rival in Sales Enablement Software
[Updated 5/8/18 9:30 am. See below.] In the eight years since it was founded, Seismic has become a leader in the market for Web-based software used by corporations and other big customers to manage the online marketing materials created to support sales reps in the field. Today, the San Diego software-as-a-service company says it has agreed … Continue reading “Seismic Acquires Savo Group, Rival in Sales Enablement Software”
San Antonio University Takes Aim at Gap in Cybersecurity Workforce
San Antonio—The University of Texas at San Antonio plans to open a new cybersecurity center that its leaders hope will draw interest from organizations looking for prospective employees, including both private companies and the federal government. Called the National Security Collaboration Center, it will be a physical space that aims to be a central gathering … Continue reading “San Antonio University Takes Aim at Gap in Cybersecurity Workforce”
Cue Biopharma Appoints Anish Suri Chief Scientific Officer
Anish Suri has been appointed chief scientific officer of preclinical-stage immunotherapy developer Cue Biopharma (NASDAQ: [[ticker:CUE]]). Suri most recently worked in Belgium at Janssen Immunosciences, where he was senior director. Cambridge, MA-based Cue, which went public at the end of 2017, is developing immunotherapies to treat cancers and autoimmune diseases.
Atreca Names Orwin CEO, Serafini Becomes Chief Strategy Officer
Atreca has appointed John Orwin to serve as president and CEO of the Redwood City, CA, drug developer. He is also joining the company’s board of directors. Orwin must recently served as CEO of Relypsa, also based in Redwood City. He takes the place of Tito Serafini, Atreca’s co-founder. Serafini is shifting to the newly … Continue reading “Atreca Names Orwin CEO, Serafini Becomes Chief Strategy Officer”
Drive.AI Launches Pilot Program of Self-Driving Vehicles in Texas
Frisco, TX—Self-driving vehicles are coming to car-crazy Texas. San Francisco-based drive.AI announced on Monday a partnership with the city of Frisco, TX, and private developer Hall Group, which plans to start a driverless car service in July. Four bright-orange vans—the same vehicles that serve as New York taxis—will be part of a six-month pilot project … Continue reading “Drive.AI Launches Pilot Program of Self-Driving Vehicles in Texas”
Activist Investor Elliott Management Eyes $7B Deal for Athenahealth
Elliott Management, the activist investor that purchased a 9 percent stake in Athenahealth last year, now wants to buy the whole company for nearly $7 billion, a deal that could bring more changes to the healthcare IT company. Elliott proposes to acquire Watertown, MA-based Athenahealth (NASDAQ: [[ticker:ATHN]]) for $160 per share in cash, the New … Continue reading “Activist Investor Elliott Management Eyes $7B Deal for Athenahealth”
Only Two Days Left to Nominate for the Xconomy Awards
Last year, the winners of the inaugural Xconomy Awards included a 30-year-old CEO of a young cell therapy startup commercializing his work from MIT (Armon Sharei; Young Innovator); a Dana-Farber oncologist who works closely with breast cancer patients as part of his research (Nikhil Wagle; Patient Partnership); an MIT technology licensing veteran who played a … Continue reading “Only Two Days Left to Nominate for the Xconomy Awards”
Will New Study Cut Guesswork for Depression Medicine Prescriptions?
[Updated 5/7/18, 5pm ET. See below.] Genetic testing that helps guide more precise cancer treatment is making its way into standard practice in major U.S. medical centers. Could the same eventually be true for depression? One test maker thinks it has finally gathered enough evidence to convince psychiatrists to order its product and make more … Continue reading “Will New Study Cut Guesswork for Depression Medicine Prescriptions?”
Mesosphere Raises $125M To Automate App Operations for Businesses
Mesosphere, which helps businesses deploy advanced apps and automate operations within their IT infrastructure, announced Monday that it has raised $125 million in a Series D funding round. San Francisco-based Mesosphere aims to make it easier even for non-tech companies, such as retailers and cruise ship lines, to develop new digital features, such as streaming … Continue reading “Mesosphere Raises $125M To Automate App Operations for Businesses”
Boston Tech Watch: Teradyne, American Well, Namogoo, Sentenai & More
[Updated 5/7/18, 12:17 pm. See below.] It’s time to catch up on some recent deals and other news from the Boston-area tech scene: —Teradyne (NYSE: [[ticker:TER]]), a North Reading, MA-based seller of robots and automatic test equipment for checking semiconductors and other electronics, recently said it purchased Denmark-based Mobile Industrial Robots, known as MiR, for … Continue reading “Boston Tech Watch: Teradyne, American Well, Namogoo, Sentenai & More”
Histogen Treatment for Female Hair Loss Cleared for Clinical Testing
San Diego’s Histogen, a regenerative medicine company with technology for using nascent skin cells to produce “cosmeceutical” products, says the FDA has given a green light to its application for an initial safety study of its hair stimulation product in women. In the United States, Histogen says hair loss affects over 40 million men and … Continue reading “Histogen Treatment for Female Hair Loss Cleared for Clinical Testing”
Renaissance Learning to Get New Private Equity Owner, Change CEOs
A California private equity firm that has previously bought and sold education software businesses has agreed to acquire Wisconsin Rapids, WI-based Renaissance Learning, the company said Thursday. Renaissance is being sold by one San Francisco-based private equity firm (Hellman & Friedman) to another (Francisco Partners), Renaissance said. The company did not include any specific financial … Continue reading “Renaissance Learning to Get New Private Equity Owner, Change CEOs”
Carbon Black CTO: “Right Time” For IPO; So Far, Wall Street Agrees
[Updated 5/4/18, 4:34 pm. See below.] Timing is everything in business. For private companies aiming to go public, it’s impossible to know the ideal moment to make a stock market debut. But Carbon Black chief technology officer Mike Viscuso is feeling good today, after his cybersecurity company’s stock performed well on its first day of … Continue reading “Carbon Black CTO: “Right Time” For IPO; So Far, Wall Street Agrees”
Duo CEO Says New Detroit Office is Chance to Learn, Grow & Engage
Duo Security, the cybersecurity startup valued at just over $1 billion, has offices in Michigan, Texas, California, and the United Kingdom. It could have chosen anywhere on Earth to locate its newest outpost, announced last month, but the company chose Detroit. In a city hungry for opportunities with loads of innovation in its DNA, it … Continue reading “Duo CEO Says New Detroit Office is Chance to Learn, Grow & Engage”
Under New Leaders, Name, PegEx Raises $8M for Waste Removal Software
In recent decades, everything from business cards to monthly bills and bank statements to medical charts detailing patients’ health histories have gone paperless. But one industry that still relies heavily on paper documents is regulated waste remediation, which involves removing hazardous materials from factories and other sites. That’s according to Eric Apfelbach, president and CEO … Continue reading “Under New Leaders, Name, PegEx Raises $8M for Waste Removal Software”
FDA Approval of Portola Drug Puts Firm in Line for $100M Payday
The FDA has approved a Portola Pharmaceuticals drug that reverses the effect of blood thinners in cases of life-threatening bleeding. The decision comes two years after the regulator rejected the drug due to manufacturing concerns. The agency still has some concerns about the drug, andexanet alfa (Andexxa). The drug’s label must carry a boxed warning … Continue reading “FDA Approval of Portola Drug Puts Firm in Line for $100M Payday”
Venture Firms to New York Wedding Startup Zola: ‘I Do’ to $100M
Most wedding registries are focused on the lead-up to the day of the ceremony. New York startup Zola also sees opportunity in connecting with—and making a sales pitch to—married couples years after they’ve tied the knot. Zola is an “e-commerce business disguised as a wedding company,” said Shan-lyn Ma, the startup’s founder and CEO, in … Continue reading “Venture Firms to New York Wedding Startup Zola: ‘I Do’ to $100M”
CEO Salzman, CMO Contouriotis Resign from Adverum Biotechnologies
Amber Salzman has resigned from her position as president and CEO of Adverum Biotechnologies (NASDAQ: [[ticker:ADVM]]) effective May 3. She has also stepped down from the Menlo Park, CA, gene therapy developer’s board. Adverum said in a securities filing that the resignation was a mutual decision as the board and Salzman agreed that the company is … Continue reading “CEO Salzman, CMO Contouriotis Resign from Adverum Biotechnologies”
Sarah Boyce Joins Akcea Therapeutics as President
Akcea Therapeutics (NASDAQ: [[ticker:AKCA]]) has named Sarah Boyce president of the Cambridge, MA-based drug developer. She is also joining the company’s board of directors. Boyce comes to Akcea from Carlsbad, CA-based Ionis Pharmaceuticals (NASDAQ: [[ticker:IONS]]), where she was chief business officer. Boyce’s move follows a March deal in which Ionis agreed to share the rights … Continue reading “Sarah Boyce Joins Akcea Therapeutics as President”
Bio Roundup: IDO Fallout, Express Scripts Dumps Amgen, Isaly Out & More
Here’s a case study of how fast things can change in biopharma. For a few years, a type of cancer drug called an IDO inhibitor was all the rage, a promising path to expanding the reach of immunotherapy. Major drug makers were dealing, too. Through acquisitions and alliances, they rolled out a spate of large-scale … Continue reading “Bio Roundup: IDO Fallout, Express Scripts Dumps Amgen, Isaly Out & More”
Carbon Black Raising $152M as Tech IPOs Stage Comeback
Into the breach goes Carbon Black. The Waltham, MA-based cybersecurity company said Thursday night that it is raising $152 million in an initial public stock offering by selling 8 million shares of its common stock at $19 per share. That gives Carbon Black an implied valuation of more than $1.2 billion. Carbon Black said its … Continue reading “Carbon Black Raising $152M as Tech IPOs Stage Comeback”
For Disaster Recovery, San Antonio’s EPIcenter Seeks Tech Solutions
San Antonio—Matthew Marchetti did what any good leader will during a time of difficulty. As dozens of requests for help poured in from victims of Hurricane Harvey in Houston last year, Marchetti and a few fellow vigilante rescuers decided to organize that scattered information into one single place: a website where people in need could … Continue reading “For Disaster Recovery, San Antonio’s EPIcenter Seeks Tech Solutions”
Toyota Research Institute to Open New Driverless Car Test Bed in MI
The state of Michigan notched another mobility-industry win today when the Toyota Research Institute (TRI) announced that a 60-acre parcel in Ottawa Lakes, MI, will be the home of a new autonomous vehicle development and testing facility, the first dedicated exclusively to TRI’s use. TRI is Toyota’s research arm, which aims to enhance the safety of … Continue reading “Toyota Research Institute to Open New Driverless Car Test Bed in MI”
Invenra Partners with Exelixis to Develop New Antibody Cancer Drugs
Invenra, a biotech startup that develops therapeutic antibodies for pharma companies, is joining forces with a Bay Area company to discover and develop new treatments for cancer. Madison, WI-based Invenra’s announcement late Wednesday that it will partner with South San Francisco, CA-based Exelixis (NASDAQ: [[ticker:EXEL]]) said that the companies will develop as many as seven … Continue reading “Invenra Partners with Exelixis to Develop New Antibody Cancer Drugs”