A gene therapy for the rare disease spinal muscular atrophy could hit the U.S. market next year. If it does, the treatment will likely be sold by Novartis, not its developer, AveXis, thanks to a deal announced early this morning. Novartis has agreed to buy AveXis (NASDAQ: [[ticker:AVXS]]) and its experimental SMA gene therapy AVXS-101 … Continue reading “Novartis Bets $8.7B on AveXis’s Gene Therapy for Spine Disease”
Xconomy Roadmap 2018: Top 15 Innovation Areas to Watch
With the first quarter in the books, it’s time to step back and lay out Xconomy’s editorial map for the rest of the year. As readers know, we strive to cover a wide range of innovation sectors, from tech and life sciences to healthcare and education—all with a mix of on-the-ground reporting, daily news stories, … Continue reading “Xconomy Roadmap 2018: Top 15 Innovation Areas to Watch”
Incyte, Merck Cancer Trial Failure Damages IDO Drugs’ Prospects
A late-stage clinical trial testing the combination of a Merck cancer treatment and a new type of cancer drug developed by Incyte has failed, dealing a blow to a new drug class that many hoped would expand the reach of cancer immunotherapy. The Phase 3 study in melanoma tested the FDA-approved Merck (NYSE: [[ticker:MRK]]) cancer … Continue reading “Incyte, Merck Cancer Trial Failure Damages IDO Drugs’ Prospects”
Welltok Raises $75M to Develop Software That Promotes Healthy Habits
Welltok, a Denver-based company that works with healthcare providers, insurers, and other groups to create individualized programs that incentivize healthy behavior, said earlier this week that it had raised $75 million from investors. The “Series E2” funding round, Welltok’s largest to date, follows rounds of $33.7 million in 2016 and $45 million in 2015. The … Continue reading “Welltok Raises $75M to Develop Software That Promotes Healthy Habits”
Tax Credits, IVMD, BrightStar, & More: This Week’s WI Watchlist
Whoever came up with the rhyme “April showers bring May flowers” probably wasn’t talking about snow showers. As people in Wisconsin hope for this week’s flurries to give way to a long-awaited thaw, consider taking a few minutes to catch up on recent fundings and other news from the state’s innovation community: —Integrated Vital Medical … Continue reading “Tax Credits, IVMD, BrightStar, & More: This Week’s WI Watchlist”
BioCrossroads Report: Life Science Sector Thriving, With Room to Grow
BioCrossroads, Indiana’s public-private initiative to grow the state’s life sciences sector, has a new report highlighting the industry’s economic activity in 2017 based on data from Indiana University. According to the report, Indiana’s life sciences sector continues to expand in a couple of key areas, including the number of companies created, the number of new … Continue reading “BioCrossroads Report: Life Science Sector Thriving, With Room to Grow”
Xconomy Giveaway: 20 Tickets for Startups at Big Data Meets Big Bio
At Xconomy we know how hard it is to be a startup founder. We’re always meeting bootstrapping entrepreneurs who take that lean startup model a little too literally. So we have some exciting news for startup teams! Due to the generosity of our community supporters, Xconomy has a block of 20 complimentary startup tickets for … Continue reading “Xconomy Giveaway: 20 Tickets for Startups at Big Data Meets Big Bio”
Unity Biotech Files IPO to Bring Anti-Aging Drugs into Clinical Trials
[Corrected 4/6/18, 12:32 p.m. EDT. See below.] Three weeks after Unity Biotechnology raised $55 million in financing to bring its osteoarthritis drug candidate into human testing, the anti-aging biotechnology company is now laying out plans for an initial public stock offering. San Francisco-based Unity set a preliminary $85 million target for its IPO. The company … Continue reading “Unity Biotech Files IPO to Bring Anti-Aging Drugs into Clinical Trials”
Pulmotect & SpyCloud Fundraise, Rice’s Big Contest, & More TX Tech
Happy Friday. Let’s catch up with the latest innovation news from Xconomy Texas. —Pulmotect, a Houston biotech, said Wednesday that it has raised $4 million of a planned $12 million round of Series B funding. The investment was co-led led by Aquinas Companies, the parent company of Fannin Innovation Studio in Houston. (Pulmotect is one … Continue reading “Pulmotect & SpyCloud Fundraise, Rice’s Big Contest, & More TX Tech”
Bio Roundup: Ex-Kiters Say Allo, NASH Cash & Data, Alkermes No & More
Happy Friday, everyone. We’ll start this week with biotech deals, one featuring a couple of CAR-T heavyweights who have re-emerged after selling Kite Pharma for $12 billion. They will try to shepherd to market a different type of the promising cancer immunotherapy: allogeneic T cells that come from donors, not from a patient’s own blood. … Continue reading “Bio Roundup: Ex-Kiters Say Allo, NASH Cash & Data, Alkermes No & More”
Arcturus Proxy Fight Heats Up; Ex-CEO Responds to Board’s Charges
As a showdown stockholders meeting draws near for San Diego’s Arcturus Therapeutics (NASDAQ: [[ticker:ARCT]]), a proxy battle is boiling down to an argument over who represents the best interests of shareholders in the tiny RNA drug company. In an April 3 letter addressed to the company’s four board members, Arcturus co-founder and ex-CEO Joseph E. … Continue reading “Arcturus Proxy Fight Heats Up; Ex-CEO Responds to Board’s Charges”
Boston Tech Watch: Harvard Accelerator, Garden Robot Funding & More
[Updated, 10:54am. See below] This week in Boston tech, we’re tracking a new accelerator program at Harvard University; a key hire by a Babson College program that supports women entrepreneurs; and recent venture capital investments in robotics, artificial intelligence, materials science, and marketing. Read on for details. —Harvard Innovation Labs created Launch Lab X, a … Continue reading “Boston Tech Watch: Harvard Accelerator, Garden Robot Funding & More”
Nutrition-Focused GenoPalate Joins Crowd of DNA Test Kit Companies
Genetic testing services from companies such as Ancestry and 23andMe have risen in popularity in the past decade, attracting consumers who are eager to learn more about their lineage or risk of contracting certain types of disease. But there are plenty of smaller players trying to carve out a following in this industry. Milwaukee-based GenoPalate … Continue reading “Nutrition-Focused GenoPalate Joins Crowd of DNA Test Kit Companies”
RSA Security Agrees to Buy Behavioral Analytics Startup Fortscale
RSA Security, a Bedford, MA-based business division of Dell Technologies (NYSE: [[ticker:DVMT]]) announced on Thursday a pending deal to acquire Fortscale, a cybersecurity startup that uses behavioral analysis to detect network intrusions. RSA Security, a global cybersecurity provider for businesses, said it plans to incorporate Fortscale’s technology into a new version of its service, the … Continue reading “RSA Security Agrees to Buy Behavioral Analytics Startup Fortscale”
Harvard-Born Quantum Software Startup Zapata Computing Raises $5.4M
Zapata Computing, a stealthy “quantum software and services company” that is collaborating with IBM, has pulled in $5.4 million in equity funding from investors, according to a document filed with the SEC this week. The young Cambridge, MA-based startup was launched last year by a group of Harvard University scientists, including Alán Aspuru-Guzik, according to … Continue reading “Harvard-Born Quantum Software Startup Zapata Computing Raises $5.4M”
Conatus Pharma’s Liver Disease Drug Flunks First Phase 2 Test
A Conatus Pharmaceuticals drug developed as a treatment for chronic liver disease has failed to beat a placebo in a mid-stage study, the first of four underway for the drug. Conatus (NASDAQ: [[ticker:CNAT]]) tested its drug, emricasan, in liver transplant patients whose hepatitis C virus has cleared, but who still have fibrosis or cirrhosis in … Continue reading “Conatus Pharma’s Liver Disease Drug Flunks First Phase 2 Test”
Boulder Startup Veteran Tapped as New Chief at San Antonio’s RealCo
San Antonio—Richard Grote wants to bring a little bit of the Rocky Mountain High to San Antonio. No, not that high—we’re referring to the buzz that comes from a vibrant innovation ecosystem. Grote, who founded several companies in Boulder, CO, and most recently led the Travelport Labs accelerator there, has become the managing director of … Continue reading “Boulder Startup Veteran Tapped as New Chief at San Antonio’s RealCo”
Cleaner Vehicles Help Make Smarter Cities
Two of the most popular terms in urban planning today are smart cities and clean energy. These concepts naturally go hand-in-hand. As cities get smarter, they use energy more efficiently and in a more controllable fashion, and they are better able to incorporate intermittent clean energy sources. Cities, and the power grids that support them, … Continue reading “Cleaner Vehicles Help Make Smarter Cities”
Lumanu Raises $1M for Tools That Amplify Social Influencers’ Posts
As social networks like Facebook (NASDAQ: [[ticker:FB]]) and Instagram continue to add millions of new users each year, businesses are fighting to capture their attention by advertising across an array of digital platforms. One marketing technique that has become increasingly popular in the past decade involves paying social media “influencers”—users with lots of followers—to promote … Continue reading “Lumanu Raises $1M for Tools That Amplify Social Influencers’ Posts”
Depomed Names Bukofzer Chief Medical & Scientific Officer
Stan Bukofzer has been named senior vice president, chief medical and scientific officer of Newark, CA-based Depomed (NASDAQ: [[ticker:DEPO]]). Bukofzer was most recently chief medical officer of Ocera Therapeutics, which was acquired by Mallinkrodt (NYSE: [[ticker:MNK]]) last year. He succeeds Santosh Vetticaden, who Depomed says decided not to relocate to the company’s new headquarters in … Continue reading “Depomed Names Bukofzer Chief Medical & Scientific Officer”
Corvidia CEO Davidson Moves to CSO, de Garidel Named Chief Executive
Corvidia Therapeutics’ CEO Michael Davidson is taking a new role at the company as its chief scientific officer. Waltham, MA-based Corvidia has appointed Marc de Garidel to succeed Davidson as chief executive. De Garidel’s experience includes six years as chairman and CEO of France-based Ipsen. Corvidia’s lead drug is in a Phase 2 study testing … Continue reading “Corvidia CEO Davidson Moves to CSO, de Garidel Named Chief Executive”
After a Year of Growth Milestones, Duo Security Opens Detroit Office
Duo Security, a cybersecurity startup based in Ann Arbor, MI, announced today that it is opening a new office in Detroit to accommodate the company’s rapidly growing business. Duo plans to immediately relocate 30 employees from the company’s engineering, information services, and product teams to work downtown in Bamboo Detroit’s co-working space. By the end … Continue reading “After a Year of Growth Milestones, Duo Security Opens Detroit Office”
Lilly Licenses Sigilon’s Cell Encapsulation Tech for Diabetes Therapy
A day after Pfizer decided to step back from the development of a universal cell therapy for cancer, Eli Lilly is jumping in, this time for diabetes. Lilly is licensing cell encapsulation technology from Cambridge, MA biotech Sigilon Therapeutics to develop an off-the-shelf, or “allogeneic”, cell therapy to treat type 1 diabetes. The two companies … Continue reading “Lilly Licenses Sigilon’s Cell Encapsulation Tech for Diabetes Therapy”
Formlabs Pulls In $30M to Push Line of 3D Printers
The hype over consumer 3D printing has waned, but the case for selling the machines to businesses seems to be growing stronger—and the venture capital is pouring in. The latest to cash in is Somerville, MA-based Formlabs, which recently raised $30 million in new equity funding, according to a document filed with the SEC this … Continue reading “Formlabs Pulls In $30M to Push Line of 3D Printers”
Fatty Liver Disease Now Global, Terns Pharma Aims for NASH in China
In the race to treat the fatty liver disease known as NASH, brought on by the modern obesity epidemic, much of the attention has focused on the U.S. But a new biotech company is looking at China. Terns Pharma has raised $30 million from the Asian venture arm of Eli Lilly (NYSE: [[ticker:LLY]]) and said … Continue reading “Fatty Liver Disease Now Global, Terns Pharma Aims for NASH in China”
Virta Health Hauls in $45M to Expand “Diabetes-Reversing” Software
Virta Health, a startup that is taking a software approach to treating diabetes rather than pills or injections, has raised $45 million in funding to support its technology. San Francisco-based Virta says its software “reverses” diabetes through behavioral changes that reduce the biological measures of the disease. The company’s software platform, accessible via a mobile … Continue reading “Virta Health Hauls in $45M to Expand “Diabetes-Reversing” Software”
With $25M in Tow, 6 River Systems Aims to Advance Warehouse Robotics
The land grab in the warehouse automation market is intensifying. After Amazon (NASDAQ: [[ticker:AMZN]]) paid $775 million for Kiva Systems in 2012, it began deploying the startup’s package-toting robots in its distribution centers worldwide—and stopped selling the machines to other companies. That move helped spur a new wave of warehouse robotics startups trying to meet … Continue reading “With $25M in Tow, 6 River Systems Aims to Advance Warehouse Robotics”
Roche Buys Inception 5 MS Program, Versant Funds New Venture
When Versant Ventures, Roche, and Inception Sciences came together in 2014 to identify drugs that could repair damaged neurons, they were placing a bet on technology that amounted to a promising tool in a broader quest to find new ways to treat multiple sclerosis. Now, San Francisco-based Versant is offering validation of that bet, although … Continue reading “Roche Buys Inception 5 MS Program, Versant Funds New Venture”
How Next-Gen Chipmakers Are Raising Money, Taking On Tech Giants
The advent of big fundraising rounds for startup chip innovators—a class shunned by most venture capital firms only a few years ago—seems to mark a turnaround in recent VC attitudes about semiconductor investments. But it turns out VCs weren’t the only driving force behind the change in fundraising prospects for the young companies now inventing … Continue reading “How Next-Gen Chipmakers Are Raising Money, Taking On Tech Giants”
UT, Aurora Health Join Strata Oncology’s Free Genomic Testing Network
Ann Arbor, MI’s Strata Oncology launched in 2015 with a mission to help bring free tumor sequencing to as many patients as possible. To help accomplish that mission, the genomics startup has established the Strata Precision Oncology Network, a group of cancer centers collaborating to help boost access to precision medicine. Last month, Strata announced … Continue reading “UT, Aurora Health Join Strata Oncology’s Free Genomic Testing Network”
UW-Madison Taps Andy Richards to Lead Discovery to Product Program
After serving for seven months as interim director of Discovery to Product—a program that helps students, faculty, and staff at the University of Wisconsin-Madison turn ideas into companies—Andy Richards has dropped “interim” from his title. On Tuesday, UW-Madison said it had selected Richards to lead the program, which is abbreviated as D2P. He officially started … Continue reading “UW-Madison Taps Andy Richards to Lead Discovery to Product Program”
Ex-Kite Execs Resurface with $300M and Control of Pfizer CAR-T Cells
Arie Belldegrun and David Chang steered Kite Pharma last year to a historic FDA approval and a $12 billion bear hug from Gilead Sciences. Now they’ve re-emerged with a new startup, Allogene, which has $300 million in backing and the rights to a CAR-T cell therapy program which is quite different from the one they … Continue reading “Ex-Kite Execs Resurface with $300M and Control of Pfizer CAR-T Cells”
Boston Scientific Buys Securus for $40M to Add to Heart Imaging Lineup
Medical device giant Boston Scientific has acquired Securus Medical Group, a startup with FDA-cleared technology that measures and images temperature in the body during heart rhythm procedures. Marlborough, MA-based Boston Scientific (NYSE: [[ticker:BSX]]) said Tuesday that it paid $40 million up front for the stake in Securus that it did not already own. Securus, which … Continue reading “Boston Scientific Buys Securus for $40M to Add to Heart Imaging Lineup”
PerBlue Says It Plans to Launch ‘Disney Heroes’ Game By End of Year
Disney and PerBlue, a Madison, WI-based mobile games studio, said they plan to launch a new role-playing game later this year that features characters from numerous hit Disney films. According to a news release, the game, “Disney Heroes: Battle Mode,” became available for pre-registration on the Google Play store on Monday. There will be a version … Continue reading “PerBlue Says It Plans to Launch ‘Disney Heroes’ Game By End of Year”
Reports: Walmart Wants to Buy PillPack, as Healthcare Ambitions Grow
Walmart is reportedly talking with PillPack about acquiring the online pharmacy and medication management company, a deal that would strengthen the retail giant’s healthcare offerings and potentially help it fend off Amazon if the Seattle e-commerce company starts selling prescription drugs. The PillPack acquisition talks were first reported by CNBC and later confirmed by other … Continue reading “Reports: Walmart Wants to Buy PillPack, as Healthcare Ambitions Grow”
Golden Seeds Seeks to Plant Angel Funds For Women Founders in Houston
Houston—Golden Seeds, an angel investing community that focuses on funding women entrepreneurs, has opened a chapter in Houston. The New York-based group now has six chapters around the country who have invested $150 million in 105 companies since it was founded in 2005. Loretta McCarthy, Golden Seeds’ managing partner, says the need for the organization … Continue reading “Golden Seeds Seeks to Plant Angel Funds For Women Founders in Houston”
Celgene Parts with COO Scott Smith “Effective Immediately”
Scott Smith, president and chief operating officer of Celgene (NASDAQ: [[ticker:CELG]]), has left the company. The Summit, NJ, drug maker gave no reason for Smith’s departure. In a press release issued after the markets closed Monday, Celgene said that Smith’s employment ended “effective immediately” and his duties will now be handled by chairman and CEO … Continue reading “Celgene Parts with COO Scott Smith “Effective Immediately””
GE Sheds Health IT Assets for $1B, Doubles Down on A.I. and Devices
General Electric is selling a chunk of its healthcare IT business to New York private equity firm Veritas Capital for $1.05 billion in cash, as GE (NYSE: [[ticker:GE]]) chief executive John Flannery aims to streamline the Boston-based industrial behemoth and reverse a steep decline in its stock price. Veritas has agreed to acquire GE Healthcare’s … Continue reading “GE Sheds Health IT Assets for $1B, Doubles Down on A.I. and Devices”
Getting Personal: Retailers Use New Tech to Court Individual Shoppers
“Personalized shopping” has long been the guiding light for retailers. But in the age of Amazon (NASDAQ: [[ticker:AMZN]]), traditional stores have been searching for the best way to digitize what was once a person-to-person process. “Internet shopping is now across mobile and Web, and now, the [question] is, ‘How do we create great experiences for … Continue reading “Getting Personal: Retailers Use New Tech to Court Individual Shoppers”
Macrolide Pharma Raises $20M, Names Former Intarcia Exec Karande CEO
Macrolide Pharmaceuticals has a new chief executive to spearhead the company’s antibiotics development efforts, which are now backed by $20 million in fresh capital. Mahesh Karande is taking the helm of Watertown, MA-based Macrolide as president and CEO. He most recently served as vice president and general manager of Intarcia Therapeutics, based in Boston. Karande’s … Continue reading “Macrolide Pharma Raises $20M, Names Former Intarcia Exec Karande CEO”
FDA Refuses Review of Alkermes Depression Drug, Wants More Trials
An Alkermes depression drug has stalled at the FDA after the regulator concluded that the company must provide more information, including additional data from new clinical trials. Alkermes (NASDAQ: [[ticker:ALKS]]) said Monday that it has received a “refusal to file” letter for ALKS 5461, the company’s drug for treating major depressive disorder. Such letters let … Continue reading “FDA Refuses Review of Alkermes Depression Drug, Wants More Trials”
Straight Outta Wisconsin, LynxBio Wins EvoNexus Best Demo Vote
A startup team from the University of Wisconsin that moved to San Diego in January to advance their technology for optimizing treatment regimens for cancer patients won the audience vote for best pitch at the EvoNexus Spring Demo Day last week. Lynx Biosciences founder and CEO Chorom Pak said her startup has developed microfluidic technology … Continue reading “Straight Outta Wisconsin, LynxBio Wins EvoNexus Best Demo Vote”
WSJ: Walmart in Talks to Buy Humana, Eyeing Deeper Move into Health
Walmart, the world’s largest retailer, has engaged in preliminary talks with Humana about acquiring the commercial health insurer, the Wall Street Journal reported Thursday, citing anonymous sources familiar with the talks. Buying or merging with Humana (NYSE: [[ticker:HUM]]) would turn Walmart (NYSE: [[ticker:WMT]]) into one of the country’s biggest health insurers and advance the Bentonville, … Continue reading “WSJ: Walmart in Talks to Buy Humana, Eyeing Deeper Move into Health”
Mustang Bio Appoints Sadik Kassim CSO, Knut Niss Named CTO
Cancer immunotherapy developer Mustang Bio (NASDAQ: [[ticker:MBIO]]) has promoted Sadik Kassim to chief scientific officer. Kassim joined New York-based Mustang last year as vice president of process and analytical development. He came to Mustang from Novartis (NYSE: [[ticker:NVS]]), where he was head of analytical development. Mustang also promoted Knut Niss to chief technology officer. Niss … Continue reading “Mustang Bio Appoints Sadik Kassim CSO, Knut Niss Named CTO”
OncoMed Pharmaceuticals Promotes John Lewicki to CEO
OncoMed Pharmaceuticals (NASDAQ: [[ticker:OMED]]) is expanding the responsibilities of its president, John Lewicki, to include chief executive. Lewicki was appointed president of the Redwood City, CA, cancer drug developer in January. With his promotion to CEO, Lewicki also joins OncoMed’s board of directors. Lewicki came to OncoMed in 2004 as senior vice president of research … Continue reading “OncoMed Pharmaceuticals Promotes John Lewicki to CEO”
Bio Roundup: Biotech IPOs, Migraine Progress, Takeda Woos Shire & More
If the recent IPO activity seems to be on overdrive, it’s not your imagination. The number of companies filing to go public in the U.S. in the first quarter was up 44 percent compared to the same period a year ago, according to data compiled by consulting and accounting firm EY. Life science companies accounted … Continue reading “Bio Roundup: Biotech IPOs, Migraine Progress, Takeda Woos Shire & More”
Boston Tech Watch: ICO Shutdowns, MIT Media Lab Fund, Webb’s New Gig
Here are some of the latest headlines in Boston-area tech: —Massachusetts Secretary of State William Galvin’s office said it put a stop to “initial coin offerings” by five companies based here, saying that they violated securities laws. That action follows the January filing of administrative charges against another company, Caviar, claiming its ICO was an … Continue reading “Boston Tech Watch: ICO Shutdowns, MIT Media Lab Fund, Webb’s New Gig”
Microsoft Executive Myerson to Leave Amid Corporate Restructuring
Terry Myerson, a Microsoft executive who oversees its Windows and devices divisions, will leave the Seattle technology giant as part of a major corporate restructuring, Microsoft CEO Satya Nadella said Thursday in an e-mail to employees at the company. In a LinkedIn post, Myerson thanked his colleagues and reflected on his time at Microsoft (NASDAQ: [[ticker:MSFT]]), … Continue reading “Microsoft Executive Myerson to Leave Amid Corporate Restructuring”
Arcturus Board Sues Ex-CEO, Alleges Deceit, in Prelude to Proxy Fight
The board that fired Arcturus Therapeutics co-founder and CEO Joseph E. Payne earlier this year unleashed a new broadside this week in the ongoing battle for control of the San Diego-based RNA drug developer. In a lawsuit filed Tuesday (see below) and in an open letter to shareholders issued Wednesday, the Arcturus (NASDAQ: [[ticker:ARCT]]) board … Continue reading “Arcturus Board Sues Ex-CEO, Alleges Deceit, in Prelude to Proxy Fight”
FoodLogiQ Lands $19.5M for Food Safety and Supply Chain Software
For some time, consumers have been demanding that food companies provide more information about the origins and the safety of their food. Soon, regulators will require it. FoodLogiQ has commercialized software that provides details on food as it is harvested or processed, and moved along the supply chain. As new food safety rules loom, the … Continue reading “FoodLogiQ Lands $19.5M for Food Safety and Supply Chain Software”