The Facebook and Cambridge Analytica data scandal may be the most prominent controversy the social networking company has had, but Jason Calacanis appears to call Facebook the “dark side” of social media for more reasons than that. Calacanis is an angel investor and founder of San Francisco incubator Launch, which announced last Friday it has … Continue reading “After Facebook: Launch Seeks Social Startups With Focus on Privacy”
What President Trump Gets Wrong About Amazon’s Effect on the Economy
For the past week or so, President Trump has been deriding Amazon as a destroyer of jobs and the main reason many retail companies are failing. Unfortunately, this is a very one-sided and uninformed view of how Amazon is changing our economy. I run a retail operation that sells almost exclusively on Amazon. Since its … Continue reading “What President Trump Gets Wrong About Amazon’s Effect on the Economy”
Next Stop, IPO? Austin’s BigCommerce Nabs $64M for Global Expansion
Austin—BigCommerce, which sells software to allow businesses to build and run online stores, announced Wednesday that it has raised $64 million in new funding. The investment round was led by Goldman Sachs with participation from current investors General Catalyst, GGV Capital, and Tenaya Capital. With the latest funding, BigCommerce has raised more than $200 million. … Continue reading “Next Stop, IPO? Austin’s BigCommerce Nabs $64M for Global Expansion”
Aspect Venture’s Jennifer Fonstad on Hot Areas of Tech, Diversity, & More
Jennifer Fonstad and Theresia Gouw launched Aspect Ventures with their own money in February 2014—and have hardly looked back. “We closed our first investment that first week,” Fonstad says. The pair went on to make a number of investments that first year before deciding to raise funds more formally from outsiders, like a conventional venture … Continue reading “Aspect Venture’s Jennifer Fonstad on Hot Areas of Tech, Diversity, & More”
SMA Day: AveXis Gene Therapy Creeps Forward as Biogen Drug’s Sales Slow
Just a few years ago, there were no drugs available for patients with the rare genetic disease spinal muscular atrophy. Now two cutting-edge therapies look headed for a commercial battle, with each data and revenue update a key moment in the race. Biogen (NASDAQ: [[ticker:BIIB]]) was the first to bring an SMA drug to market, … Continue reading “SMA Day: AveXis Gene Therapy Creeps Forward as Biogen Drug’s Sales Slow”
With Acorda Data, Experts Weigh the Benefits of New Parkinson’s Drugs
Levodopa, the gold-standard medicine for Parkinson’s disease, has helped millions of patients since the 1970s manage the neurodegenerative disease. But there’s a caveat. Nothing is available that can slow or reverse the loss of brain cells, and what’s more, levodopa’s effects wane over time. So-called “off” episodes, when the drug isn’t working, can become more … Continue reading “With Acorda Data, Experts Weigh the Benefits of New Parkinson’s Drugs”
Blockchain Gets Real? IBM Advances Projects With Walmart & Others
For all the hype surrounding the potential for blockchain systems to transform many industries, the technology has yet to have much of an impact on businesses. But 2018 is shaping up to be a critical year for the budding sector: more companies are increasing their investments in blockchains and expanding test programs, says Ramesh Gopinath, … Continue reading “Blockchain Gets Real? IBM Advances Projects With Walmart & Others”
Savari Raises $12M To Connect Cars To Stoplights, Phones, Each Other
Savari, whose technology is designed to create a shared communications web among cars, personal devices, and roadway signals, announced today it has raised $12 million in a Series B fundraising round. Santa Clara, CA-based Savari makes V2X technology—that is, software and hardware sensor units designed to connect vehicles to everything that moves, so they can … Continue reading “Savari Raises $12M To Connect Cars To Stoplights, Phones, Each Other”
After $1.5M Series A, Upper Hand Plans to Grow Sports Management Biz
Upper Hand, the Indianapolis startup focused on sports management software and business services, announced earlier this month that it has snagged $1.5 million in Series A funding from Houston, TX-based Park Ten Capital. Company co-founder and CEO Kevin MacCauley came to the sports management sector a few years ago after a stint coaching Little League.“I … Continue reading “After $1.5M Series A, Upper Hand Plans to Grow Sports Management Biz”
After Mishap in Fall, Madison Driverless Shuttle Demos Get Another Go
Five months after a mishap involving a delivery truck thousands of miles away prompted the cancellation of a scheduled driverless shuttle demonstration in Madison, WI, people living in and around the city have another chance to experience the potential future of transportation firsthand. On Tuesday and Wednesday, members of the public can ride in an … Continue reading “After Mishap in Fall, Madison Driverless Shuttle Demos Get Another Go”
With TMC3, Texas Leaders Aim to Launch Houston as Top Biotech Hub
Houston—Texas political leaders, along with heads of the Texas Medical Center and its institutions, announced on Monday plans for a biotech-focused hub that could place Houston on the map of life sciences innovation centers. The TMC Translational Research campus, or TMC3, is a planned $250 million research center in the shape of a double helix … Continue reading “With TMC3, Texas Leaders Aim to Launch Houston as Top Biotech Hub”
Third Rock’s Cedilla Launches with $56M for Protein Stability Drugs
As new technologies give drug developers greater insight into protein biology, more biotech and pharma companies are now emboldened to pursue what have long been dismissed as undruggable targets—the 75-85 percent of all human proteins that are beyond the reach of today’s medicines. One more startup is joining the quest to find small molecule drugs … Continue reading “Third Rock’s Cedilla Launches with $56M for Protein Stability Drugs”
Raising $56M, Revolution Medicines Drops Old Work and Turns to Cancer
Revolution Medicines emerged three years ago to develop drugs from products found in nature and said its lead prospect would be an antifungal compound. Redwood City, CA-based Revolution is now focused on cancer and has raised $56 million to bring a completely different drug into clinical studies. The firm is targeting an enzyme called SHP2, … Continue reading “Raising $56M, Revolution Medicines Drops Old Work and Turns to Cancer”
FDA Panel Splits on Lilly Arthritis Drug, Backs Lower of Two Doses
Eli Lilly said enough to convince an FDA advisory panel that its experimental rheumatoid arthritis drug is effective in treating the inflammatory disorder. But on safety, the independent experts were not uniformly persuaded, and they voted to recommend approval only for the lower of two doses. It’s the second time the Lilly drug is up … Continue reading “FDA Panel Splits on Lilly Arthritis Drug, Backs Lower of Two Doses”
FDA Pumps the Brakes on Epizyme’s Top Cancer Drug Tazemetostat
Epizyme (NASDAQ: [[ticker:EPZM]]) said Monday that a pediatric patient taking its experimental cancer drug tazemetostat developed a new cancer, different than the one tazemetostat had been treating. The secondary cancer, a lymphoma, spurred the Food and Drug Administration to halt all new enrollment in tazemetostat trials. The drug is being tested in Phase 1 and … Continue reading “FDA Pumps the Brakes on Epizyme’s Top Cancer Drug Tazemetostat”
San Antonio Healthcare Group Plans Boot Camp for Healthtech Startups
San Antonio—A life sciences professional development and advocacy group in San Antonio, The Health Cell, is hosting a three-day boot camp for researchers, scientists, and entrepreneurs who want to start or join a healthtech company. The event is taking place from Friday, May 11 to Sunday, May 13, and will offer prospective executives mentorship and … Continue reading “San Antonio Healthcare Group Plans Boot Camp for Healthtech Startups”
Techstars Alexa Firms Address Settings Where Voice Is ‘Most Natural’
Smart speakers are becoming increasingly common in our homes. Users can instruct these devices to order takeout, give the weather forecast, or turn on or off various Internet-connected devices. The Consumer Technology Association estimates that nearly 44 million voice-enabled assistants will be sold this year in the United States. Unit sales rose 279 percent from … Continue reading “Techstars Alexa Firms Address Settings Where Voice Is ‘Most Natural’”
Trade War Looming, 3D Printing Startup Formlabs Ups China Investment
Formlabs sees China as one of the keys to expanding 3D printing technology’s role in manufacturing, and the Massachusetts-based startup plans to grow its business there with the help of a recent $30 million venture funding round and some new investors located in China. Xconomy reported Formlabs’ latest investment in early April after spotting a … Continue reading “Trade War Looming, 3D Printing Startup Formlabs Ups China Investment”
Sage Postpartum Depression Drug Heads to FDA Review
A new treatment for postpartum depression has inched closer to market. Sage Therapeutics this morning filed for FDA approval of brexanolone, which could become the company’s first marketed product as well as the first-ever drug approved specifically for PPD, which affects some 10 to 20 percent of women giving birth every year in the U.S. … Continue reading “Sage Postpartum Depression Drug Heads to FDA Review”
Life Sci Veteran Garabedian Talks Up Biotech Accelerator in Texas
San Antonio — For early stage researchers at universities and other institutions, the idea of finding enough money to bring a drug or medical device to market can seem daunting, if not entirely hopeless. Grants and angel networks can cover some preclinical funding, and big venture capital firms are there to pour tens of millions … Continue reading “Life Sci Veteran Garabedian Talks Up Biotech Accelerator in Texas”
Tocagen Reaches Exclusive Deal in China for Brain Cancer Therapy
Roughly a year and a half after Tocagen (NASDAQ: [[ticker:TOCA]]) named Marty Duvall as CEO, the San Diego biotech said it has signed a deal that gives Beijing-based ApolloBio an exclusive license to its gene therapy treatment for a deadly type of brain cancer. Under terms of the deal, ApolloBio agreed to make a $16 … Continue reading “Tocagen Reaches Exclusive Deal in China for Brain Cancer Therapy”
Torque Taps Thomas Andresen for Chief Scientific Officer
Thomas Andresen has been appointed chief scientific officer of immune-oncology therapies developer Torque. Andresen comes to the Cambridge, MA-based company from the Technical University of Denmark, where he was a professor in the department of micro-and nanotechnology. Andresen is also a Torque co-founder. Torque, which raised $25 million in a Series A round of financing … Continue reading “Torque Taps Thomas Andresen for Chief Scientific Officer”
Natera Names Paul Billings Chief Medical Officer
Paul Billings has been named chief medical officer and senior vice president of medical affairs of Natera (NASDAQ: [[ticker:NTRA]]). Billings’ experience includes serving as chief medical officer of Life Technologies and as consulting chief medical officer of Thermo Fisher Scientific’s (NYSE: [[ticker:TMO]]) genetic sciences division. San Carlos, CA-based Natera markets genetic assays, including prenatal tests … Continue reading “Natera Names Paul Billings Chief Medical Officer”
Using Analytics, Fitcode Aims to Connect Shoppers to Jeans That Fit
There are few things more universal in wardrobes the world over than blue jeans. But they are also the number one item that is returned by online shoppers, says Rian Buckley, founder and CEO of Fitcode. “Fit is the number one purchase driver and reason to return,” she says. For many of us, the idea … Continue reading “Using Analytics, Fitcode Aims to Connect Shoppers to Jeans That Fit”
Here Are the Companies in Gener8tor’s Madison 2018 Accelerator Class
Two companies headquartered in Florida and two others based in Gener8tor’s home state of Wisconsin are among the six startups participating in the organization’s latest for-equity accelerator program. Gener8tor, which invests in startups and coaches the entrepreneurs who run them, has graduated a dozen classes of early-stage companies from its core program since 2012. The … Continue reading “Here Are the Companies in Gener8tor’s Madison 2018 Accelerator Class”
Cybersecurity Innovation Is Key as Nations Move to Digital Hostilities
As the under secretary responsible for U.S. cybersecurity at the Department of Homeland Security during the Obama administration, Suzanne Spaulding was watching out for signs of vote tampering or disruptions on Nov. 8, 2016, as citizens cast their ballots for the presidential candidate of their choice. On that Election Day, the agency was on heightened … Continue reading “Cybersecurity Innovation Is Key as Nations Move to Digital Hostilities”
Pivotal Notches $555M IPO to Boost Enterprise Software in the Cloud
Pivotal Software is the latest to jump into an improving public market for tech companies—the San Francisco-based software business is raising $555 million in its initial public offering today. Pivotal said it priced 37 million shares for $15 apiece in the offering, in the middle of its expected range. The IPO still leaves Dell Technologies … Continue reading “Pivotal Notches $555M IPO to Boost Enterprise Software in the Cloud”
Biogen Pays $1B to Broaden Ionis Pact, Betting More on RNA Drugs
Biogen will pay Ionis Pharmaceuticals $1 billion to expand their current partnership, doubling down on the RNA drugmaking technology that brought the spinal muscular atrophy drug nusinersen (Spinraza) to market. Ionis (NASDAQ: [[ticker:IONS]]) gets $325 million in cash up front in the deal, while Biogen (NASDAQ: [[ticker:BIIB]]) will also buy 11,501,153 Ionis shares at $54.34 … Continue reading “Biogen Pays $1B to Broaden Ionis Pact, Betting More on RNA Drugs”
Bio Roundup: Hope for Lungs, Bradner’s Complaint, FDA Nods & More
The biggest news this week was in oncology, hands down. Merck showed that its immunotherapy pembrolizumab (Keytruda) might become a common option for many patients newly diagnosed with advanced lung cancer, but the bigger picture is that the field is moving fast. While pembrolizumab notched the headline-grabbing data, others are also working to develop options … Continue reading “Bio Roundup: Hope for Lungs, Bradner’s Complaint, FDA Nods & More”
Want to Find Stellar Software Engineers in the Midwest? Here’s How
It may seem obvious that companies in the Midwest face challenges attracting and retaining talent, given our weather and location far from the coasts. One need only to look at college football recruiting, after all, to see how the average annual snowfall on campus matters almost as much as last season’s win/loss record. To some … Continue reading “Want to Find Stellar Software Engineers in the Midwest? Here’s How”
Boston Tech Watch: Kyruus, Kolide, Nano-C, BookingBug
Time to catch up on the latest tech headlines from the Boston area: —Westwood, MA-based Nano-C said it closed an $11.5 million funding round that was capped off by a $3 million investment from Ray Stata, the co-founder of Norwood, MA-based semiconductor company Analog Devices (NASDAQ: [[ticker:ADI]]). Founded in 2001, Nano-C has developed “nanostructured” carbon … Continue reading “Boston Tech Watch: Kyruus, Kolide, Nano-C, BookingBug”
Techstars Anywhere Inaugural Class Takes Virtual Graduation Walk
[Corrected 4/20/09, 5:35 am. See below.] From Adelaide to Toronto, the Techstars accelerator that began in Boulder, CO, runs 39 programs in 27 cities around the world—with the prerequisite that admitted startups must relocate, if necessary, to the city where their three-month program is based. Today, however, the inaugural class of the 40th program—Techstars Anywhere—is … Continue reading “Techstars Anywhere Inaugural Class Takes Virtual Graduation Walk”
Safety Concerns Linger for Lilly’s Arthritis Drug as FDA Panel Looms
FDA staffers have expressed significant concerns about the side effects tied to Eli Lilly’s experimental rheumatoid arthritis drug baricitinib (Olumiant), which is once again up for review after the agency rejected it last year. Next week, a panel of independent experts will convene to evaluate the merits of baricitinib. The FDA looks to these advisory … Continue reading “Safety Concerns Linger for Lilly’s Arthritis Drug as FDA Panel Looms”
Baird: Exact Sciences Should Rebound After First-Quarter ‘Headwinds’
Cancer screening test company Exact Sciences may not be anticipating the release of its first-quarter earnings report next week as eagerly as it has past quarters’ earnings announcements. The Madison, WI-based company in February signaled to investors that sales of its flagship product Cologuard, a stool-based DNA test for colorectal cancer screening, hit a bit … Continue reading “Baird: Exact Sciences Should Rebound After First-Quarter ‘Headwinds’”
Ford Offers Non-Emergency Medical Transport with New GoRide Service
Proponents of mobility and autonomous vehicle technologies say those innovations have a lot of humanity-improving potential. Self-driving cars will dramatically reduce congestion and accidents, they say, and will allow elderly and disabled people to get around more independently. One future scenario imagines residents of a retirement community requesting rides from a community-owned autonomous shuttle using … Continue reading “Ford Offers Non-Emergency Medical Transport with New GoRide Service”
Shapeways Adds $30M to Push “Mass Personalization” Via 3D Printing
Shapeways, a New York-based 3D printing company, has raised $30 million in new funding to help expand its services for product designers aspiring to build successful small businesses. Shapeways, which has raised more than $100 million to date, operates an online marketplace where designers and others with product ideas can sell their 3D-printed wares, such … Continue reading “Shapeways Adds $30M to Push “Mass Personalization” Via 3D Printing”
5 Takeaways From Robo Madness 2018 at iRobot
A who’s who of robotics and artificial intelligence experts gathered at iRobot’s headquarters in Bedford, MA, last week. The occasion was Xconomy’s fourth annual Robo Madness conference, and you can check out photos from the event here. Here are five things we learned from the discussions: 1. Watch your interns and office cleaners—they’ll go on … Continue reading “5 Takeaways From Robo Madness 2018 at iRobot”
Agenda Posted for Xconomy’s What’s Hot in Boston Biotech on May 16
Join Xconomy next month for our sixth installment of What’s Hot in Boston Biotech on May 16 at the Broad Institute of MIT and Harvard. We’re convening an elite group of life sciences executives, researchers, investors from the Boston area and beyond to discuss a range of issues brought forth by cutting edge drug-making methods … Continue reading “Agenda Posted for Xconomy’s What’s Hot in Boston Biotech on May 16”
BenevolentAI Raises $115M For Drug Discovery, Pegs Valuation at $2.1 Billion
BenevolentAI, one of the companies vying to improve healthcare through artificial intelligence analysis, says it has raised $115 million to accelerate its drive to discover new drugs by studying disease processes at the molecular level. The London-based company, which has offices in New York and Belgium, says the new capital brings its current valuation to … Continue reading “BenevolentAI Raises $115M For Drug Discovery, Pegs Valuation at $2.1 Billion”
10xBio Raises $2.7M to Test Body Sculpting Drug in Clinical Trial
John Dobak, a life sciences serial entrepreneur in San Diego, said a new startup he’s leading has raised $2.66 million to advance a drug that is already approved to shrink varicose veins through early-stage clinical trials testing it in a new use —fat reduction body sculpting. The biotech, 10xBio, announced earlier this month that the … Continue reading “10xBio Raises $2.7M to Test Body Sculpting Drug in Clinical Trial”
Surface Oncology’s Upsized IPO Reels In $108M for Lead Cancer Drug
Surface Oncology has raised $108 million from an initial public offering to finance clinical testing of its lead cancer immunotherapy. Cambridge, MA-based Surface priced its offering of 7.2 million shares at $15 each. The company had previously planned to sell 6 million shares in the range of $13 to $15 per share. Those shares are … Continue reading “Surface Oncology’s Upsized IPO Reels In $108M for Lead Cancer Drug”
NorthStar, Fiserv, CUNA & More: This Week’s Wisconsin Watchlist
Stay current on news from Wisconsin’s innovation community with these recent headlines: —NorthStar Medical Radioisotopes, which is seeking to become the first U.S. company in decades to domestically produce a widely used medical radioisotope, broke ground on a new 20,000-square-foot production facility at its Beloit headquarters, the Janesville Gazette reported. NorthStar plans to produce and … Continue reading “NorthStar, Fiserv, CUNA & More: This Week’s Wisconsin Watchlist”
Facebook: Lip Service to Privacy Is Over
As publicity-shy Facebook co-founder and CEO Mark Zuckerberg testified before both houses of Congress last week amid an avalanche of criticism about the dearth of user privacy on the world’s biggest social media network, it became crystal clear that the entire social media industry has entered a new and perilous phase. Trust in all social media … Continue reading “Facebook: Lip Service to Privacy Is Over”
Frequency Therapeutics Names William Chin Chief Medical Officer
Frequency Therapeutics has appointed William Chin to serve as the Woburn, MA, company’s chief medical officer. Chin’s previous experience includes posts at Eli Lilly (NYSE: [[ticker:LLY]]), where he was senior vice president, drug discovery and clinical investigation, and the Pharmaceutical Research and Manufacturers of America, where he was executive vice president of scientific and regulatory … Continue reading “Frequency Therapeutics Names William Chin Chief Medical Officer”
Clarify Medical Appoints George Mahaffey President & CEO
George Mahaffey has been appointed president and CEO of San Diego-based Clarify Medical. Mahaffey will also serve on Clarify’s board of directors. He takes the place of Rex Bright, who was named interim president and CEO in February. Bright will continue to serve on the board. Clarify is commercializing a light therapy device that has … Continue reading “Clarify Medical Appoints George Mahaffey President & CEO”
Easy Expunctions Wins $100,000 San Antonio Investment Competition
San Antonio—Easy Expunctions, a Texas startup that moved its business for expunging criminal records to San Antonio from Austin in 2016, has won a local startup pitch competition hosted by Capital Factory and Geekdom and, along with it, a $100,000 investment. Easy Expunctions beat out five other San Antonio tech companies Tuesday for the 1 … Continue reading “Easy Expunctions Wins $100,000 San Antonio Investment Competition”
Detroit Tech School Trains Vets, Returning Citizens for Tech Careers
Tucked away in Southwest Detroit, not too far from the geodesic Buckminster Fuller domes built by Jack White’s brother, sits the Detroit School of Digital Technology (DSDT). Unlike many other tech schools, DSDT is a woman-owned organization that specializes in training veterans, residents returning home from being incarcerated, and other adults for a career in … Continue reading “Detroit Tech School Trains Vets, Returning Citizens for Tech Careers”
Cancer Wrap: Blueprint, Checkmate, More AACR News & Phase 3 Blues
The big headlines from the American Association for Cancer Research meeting in Chicago were all about the battle over the latest lung cancer data, and for good reason. Lung cancer remains the deadliest cancer, but the Phase 3 data suggest that treatment options for some of the direst cases could soon rapidly expand. There were … Continue reading “Cancer Wrap: Blueprint, Checkmate, More AACR News & Phase 3 Blues”
Robo Madness 2018: Homecoming—The Photos
We had a blast at our fourth annual Robo Madness conference in the Boston area, and we hope you did, too. The theme this year was homecoming—the idea that robotics and artificial intelligence have started to seep into our lives and homes, and are poised to have big, transformative effects on business and society wherever … Continue reading “Robo Madness 2018: Homecoming—The Photos”
After FDA Approves Bone Disease Drug, Ultragenyx Sets $200K Price
Patients who have rickets experience a softening and weakening of their bones traced to a vitamin deficiency. In a rare, inherited form of the disease, vitamin D supplements don’t work. Ultragenyx (NASDAQ: [[ticker:RARE]]) has received FDA approval for a drug to treat patients who have this form of the disease, called X-linked hypophosphatemia (XLH). The … Continue reading “After FDA Approves Bone Disease Drug, Ultragenyx Sets $200K Price”