San Antonio — [Updated 3/22/18, 11 a.m. See below.] The first CEO of VelocityTX, an emerging technology and startup resource center in San Antonio, has left the organization less than a year after he joined. Jorge Varela decided to pursue other interests, according to a press release from VelocityTX. A spokeswoman wouldn’t provide further detail. Varela … Continue reading “San Antonio Bioscience and Technology Development Group Replaces CEO”
Zuckerberg Says Facebook Correcting Its “Mistakes” To Protect User Profiles
Breaking his silence after a firestorm of revelations about Facebook’s links to a shadowy political consulting firm, Cambridge Analytica, Facebook founder Mark Zuckerberg announced this afternoon that the company is taking further steps to prevent unauthorized access to users’ personal information. The Facebook CEO was responding to news that data research firm Cambridge Analytica had … Continue reading “Zuckerberg Says Facebook Correcting Its “Mistakes” To Protect User Profiles”
At Opioid Hearing, BIO Exec Proposes Ways to Boost Pain Drug Development
After months of meetings and Congressional hearings on the unrelenting opioid addiction crisis, Congress has finally responded, with 25 bills that aim to attack the problem from all sides. The House Energy and Commerce Committee began two days of hearings on Wednesday that reviewed the draft legislation that lawmakers want to get to the House … Continue reading “At Opioid Hearing, BIO Exec Proposes Ways to Boost Pain Drug Development”
Hungry for Innovation, Big Food Firms Seek Alliances With Startups
Big Food is getting serious about innovation. Many top food companies are increasingly pumping money into supporting young, innovative startups, according to a recent analysis by CB Insights. The firms include stalwarts like Kraft Heinz (NASDAQ: [[ticker:KHC]]), which has an incubator and accelerator program called Springboard, and relative newcomers like the Greek-style yogurt maker Chobani, … Continue reading “Hungry for Innovation, Big Food Firms Seek Alliances With Startups”
MIT Team Says Facebook Profiles Could Still Be Stolen, At Scale
If your personal Facebook profile isn’t among the 50 million allegedly pilfered by the political consulting firm Cambridge Analytica, could another company still scrape it up, along with many others? A policy research team from MIT’s Computer Science and Artificial Intelligence Laboratory (CSAIL) says yes. In a blog post published today, three MIT graduate students … Continue reading “MIT Team Says Facebook Profiles Could Still Be Stolen, At Scale”
PawnGuru Raises $2.5M Series A, Plans Expansion into Latin America
PawnGuru, a startup focused on digitizing the pawn shop experience, has raised $2.5 million in a Series A funding round. The investment was led by the Impact America Fund and Invest Detroit, with additional contributions from angel investors. Since its inception in 2015, the company has raised a total of $3.7 million. Jordan Birnholtz, PawnGuru’s … Continue reading “PawnGuru Raises $2.5M Series A, Plans Expansion into Latin America”
Doyenne, Epic, Cellectar, & More: This Week’s Wisconsin Watchlist
Keep up with news from Wisconsin’s innovation community with these recent headlines: —Doyenne Group, an organization that supports Wisconsin-based companies led by women and people of color, enrolled seven startups in its new business accelerator, the Wisconsin State Journal reported. The inaugural program reportedly kicked off in January and will run for 12 months. According … Continue reading “Doyenne, Epic, Cellectar, & More: This Week’s Wisconsin Watchlist”
Affectiva Launches A.I. Tech to Help Cars Sense Your Emotions
Efforts to develop self-driving vehicles have largely focused on tracking what’s going on outside the cars—think laser-based sensors to track other vehicles and digital mapping technologies to help navigate. Now, the industry is turning some of its attention to technologies that sense what’s going on inside the vehicle. An initial goal is to better monitor … Continue reading “Affectiva Launches A.I. Tech to Help Cars Sense Your Emotions”
U.K. Healthcare Entrepreneur Buys Radiology A.I. Startup Behold.AI
Behold.AI, a Madison, WI-based startup developing software that flags abnormalities in medical images to help radiologists make diagnostic decisions, said it was acquired by a London-based healthcare entrepreneur. The buyer was Simon Rasalingham. He founded Medica Group, a U.K. provider of tele-radiology services, in 2003 and sold it in 2013. Now, Rasalingham and others on … Continue reading “U.K. Healthcare Entrepreneur Buys Radiology A.I. Startup Behold.AI”
TCR² Raises $125M to Move Ahead with Its Cell Therapy, CAR-T’s Cousin
TCR² Therapeutics has raised a $125 million Series B round to push ahead with live, cancer-fighting T cells. T cell receptor (TCR) therapies, the firm’s area of focus, have not progressed as far as higher-profile CAR-T treatments, despite similarities. Few TCRs have advanced into clinical studies, while two CAR-T cell therapies, one from Novartis (NYSE: … Continue reading “TCR² Raises $125M to Move Ahead with Its Cell Therapy, CAR-T’s Cousin”
Startup Bloomscape Aims to Make Urban Houseplant Delivery Blossom
Being a Detroit apartment-dweller can be tough on a person who is used to being surrounded by more verdant landscapes. I consider myself a member of this tribe, and last summer, I was so restless that I grew some cherry tomatoes from seed in my living room. This Frankenstein’s monster of a plant climbed over … Continue reading “Startup Bloomscape Aims to Make Urban Houseplant Delivery Blossom”
Alder BioPharma’s Schatzman Steps Down as CEO by “Mutual Decision”
[Updated 3/21/18, 8:42 a.m. EDT. See below.] Alder BioPharmaceuticals is now looking for a new chief executive, just as the company readies plans to file for FDA approval of its lead drug for migraine headaches. Randy Schatzman (pictured above, right) is out as Alder’s (NASDAQ: [[ticker:ALDR]]) CEO, the Bothell, WA, company announced Tuesday after the markets … Continue reading “Alder BioPharma’s Schatzman Steps Down as CEO by “Mutual Decision””
Uber’s Driverless Fatality Sparks Fallout and Finger-Pointing
The fallout from Uber’s autonomous car fatality continues today, with a number of new developments. We’re recapping them very quickly here, and adding two reaction quotes we received from Carrie Morton, deputy director of the University of Michigan’s Mcity research facility and test bed, and Shahin Farshchi, a partner at Lux Capital, a Silicon Valley … Continue reading “Uber’s Driverless Fatality Sparks Fallout and Finger-Pointing”
SKU, Austin Consumer Goods Accelerator, Kicks Off Sixth Class
[Updated 3/21/18 11:05 am. See below.] Austin—SKU, a retail and consumer packaged goods-focused accelerator, launched its latest class of startups on Tuesday. SKU was founded as Incubation Station in 2012 by Austin entrepreneur Shari Wynne. SKU invests $10,000 in each company and takes an equity stake of 5 percent. [Updated with new figures on the investment … Continue reading “SKU, Austin Consumer Goods Accelerator, Kicks Off Sixth Class”
Human Longevity Hires Ancestry Executive as CTO
San Diego-based Human Longevity, which is combining genomic and phenotypic data and using machine learning to extract insights about health and wellness, has named Scott Sorensen as chief technology officer. Sorensen, who reports to founder, chairman, and CEO J. Craig Venter, was previously the CTO at Ancestry. In a statement Monday, Human Longevity said Sorensen … Continue reading “Human Longevity Hires Ancestry Executive as CTO”
Exact Sciences Brings on Mark Stenhouse as President of Cologuard
Mark Stenhouse will join Exact Sciences (NASDAQ: [[ticker:EXAS]]) as president of Cologuard, a stool-based screening test for colorectal cancer the Madison, WI, company has developed. Stenhouse spent nearly three decades at Lake Bluff, IL-based Abbott Laboratories (NYSE: [[ticker:ABT]]) and AbbVie (NYSE: [[ticker:ABBV]]), a pharmaceuticals-focused spinout of Abbott Laboratories launched in 2013. Most recently, Stenhouse was … Continue reading “Exact Sciences Brings on Mark Stenhouse as President of Cologuard”
AI Chip Startup Mythic Reaps $40M from SoftBank, Lockheed Venture Arms
Mythic, which last year unveiled its novel computer chip designed for artificial intelligence, announced today that it has raised $40 million in a Series B fundraising round led by the venture capital arm of Japanese telecom and tech giant SoftBank. Mythic, based in both Redwood City, CA, and Austin, TX, is one of the upstart … Continue reading “AI Chip Startup Mythic Reaps $40M from SoftBank, Lockheed Venture Arms”
Arena Pharma’s Revamp Gains Traction With New Data For GI Drug
Arena Pharamceuticals’ plan to reshape itself is advancing with new data for an ulcerative colitis drug that could pose a threat to biotech giant Celgene. San Diego, CA-based Arena (NASDAQ: [[ticker:ARNA]]) said late Monday that its experimental compound etrasimod has succeeded in a Phase 2 trial in patients with moderate-to-severe ulcerative colitis, a form of … Continue reading “Arena Pharma’s Revamp Gains Traction With New Data For GI Drug”
CytoBioScience Raises $1.5M for “Intended Merger,” Document Says
San Antonio — [Updated 3/23/18, 4:58 p.m. See below.] CytoBioScience, a bioscience company that canceled plans to merge with a publicly traded business last year, made new merger plans this week, which the company revealed publicly Friday. Fort Collins, CO-based WestMountain Co. merged into CytoBioscience on March 19, according to a document filed with the SEC … Continue reading “CytoBioScience Raises $1.5M for “Intended Merger,” Document Says”
Uber Suspends Driverless Testing After Fatal Accident in Arizona
The inevitable has happened. An autonomous Uber car hit a pedestrian in Tempe, AZ, and caused her death. The ride-hailing giant has suspended testing on driverless cars in Arizona, Pittsburgh, San Francisco, and Toronto, according to the New York Times. This is the first known death of a pedestrian caused by a self-driving car on … Continue reading “Uber Suspends Driverless Testing After Fatal Accident in Arizona”
Job Destroyers or Helpers? Amazon, FedEx Hiring More Robots & Humans
Advances in robotics and artificial intelligence technologies have stoked fears that machines are coming for humans’ jobs in a variety of industries. Some executives of robotics companies have tried to allay those concerns, arguing that in many cases, people’s roles will evolve, but technology won’t eliminate their jobs completely. A report by The New York … Continue reading “Job Destroyers or Helpers? Amazon, FedEx Hiring More Robots & Humans”
Exact Sciences: Harry Connick Jr., Wife to Lead New Cancer Campaign
[Updated 3/19/18 5:06 p.m. See below.] Two months after Exact Sciences said it planned to introduce a new celebrity spokesperson to plug its stool-based screening test for colorectal cancer, the company has pulled back the curtain on who it will be. The recording artist and entertainer Harry Connick Jr. will attempt to raise awareness about … Continue reading “Exact Sciences: Harry Connick Jr., Wife to Lead New Cancer Campaign”
TwoXAR Lands $10M to Ramp Up AI-Based Drug Discovery Work
Drug discovery startup twoXAR has raised $10 million in funding to support its efforts to build a pipeline of drug candidates found by its proprietary artificial intelligence technology. SoftBank Ventures led the Series A round of financing, and was joined by the Andreessen Horowitz Bio Fund and OS Fund. Palo Alto, CA-based twoXAR has developed … Continue reading “TwoXAR Lands $10M to Ramp Up AI-Based Drug Discovery Work”
Ford Leads $65M Round for 3D Printing Startup Desktop Metal
Desktop Metal, the well-funded metal 3D-printing startup, is adding more money to its coffers from another high-profile investor. Ford has led a new $65 million investment round in Burlington, MA-based Desktop Metal, the company announced Monday. Earlier backer Future Fund also contributed to the round. Ford chief technology officer Ken Washington is joining Desktop Metal’s … Continue reading “Ford Leads $65M Round for 3D Printing Startup Desktop Metal”
Anti-Aging Startup Unity Bio Grabs $55M, Plans First Clinical Trial
[Updated, 3/19/18, 6:32 p.m. See below.] Unity Biotechnology is trying to treat age-related diseases where it says many of them start: the production of the cellular proteins that lead to the deterioration associated with age. The startup is gearing up to test its first drug in humans and it now has $55 million to back … Continue reading “Anti-Aging Startup Unity Bio Grabs $55M, Plans First Clinical Trial”
CMS Starts to Cover Broad Cancer DNA Tests, Boosting Foundation, Thermo
The Centers for Medicare & Medicaid Services, which administers the federal Medicare insurance program, will begin covering FDA-approved diagnostic tests that scan tumors for a range of genetic mutations. The news is a boost for companies like Foundation Medicine and Thermo Fisher Scientific, who are among the few firms with such tests on the market. … Continue reading “CMS Starts to Cover Broad Cancer DNA Tests, Boosting Foundation, Thermo”
Five Unlikely Competitors in the Race for Driverless Cars: Slideshow
Now that we know autonomous vehicles are going to be a real thing, we are watching an entirely new industry unfold. Because of the sweeping societal changes that self-driving cars are likely to bring—they’ll change transportation the most, but also could affect the way we care for the elderly, live in our homes, deliver goods … Continue reading “Five Unlikely Competitors in the Race for Driverless Cars: Slideshow”
Join Feng Zhang, Eric Lander, Craig Mello & More at What’s Hot in Boston Biotech
Time is running out to take advantage of the super saver discount for “What’s Hot in Boston Biotech” on May 16. The forum will take place at The Broad Institute of MIT & Harvard in Cambridge, MA. Several biomedical milestones were achieved in 2017, among them the long-awaited scientific validation of RNA interference, and the … Continue reading “Join Feng Zhang, Eric Lander, Craig Mello & More at What’s Hot in Boston Biotech”
Alzheon Files for IPO to Fund Studies of Amyloid Alzheimer’s Drug
Alzheon is turning to the public markets to finance a new round of testing for its experimental Alzheimer’s disease drug. The Framingham, MA, company set a preliminary $80 million target for its initial public stock offering. That figure is expected to change as Alzheon determines how many shares to sell and at what price. But … Continue reading “Alzheon Files for IPO to Fund Studies of Amyloid Alzheimer’s Drug”
Four Developments to Watch as Embattled Qualcomm Seeks Path Forward
[Updated 3/16/18 3:30 pm. See below.] There’s never a dull moment these days at Building N, the San Diego headquarters of Qualcomm (NASDAQ: [[ticker:QCOM]]), the wireless technology giant and the world’s biggest maker of the advanced components used in smartphones. In the days since President Donald Trump preemptively killed Broadcom’s (NASDAQ: [[ticker:AVGO]]) unsolicited offer to … Continue reading “Four Developments to Watch as Embattled Qualcomm Seeks Path Forward”
Teva’s Aycardi Named Chief Medical Officer of Xenon Pharma
Xenon Pharmaceuticals (NASDAQ: [[ticker:XENE]]) announced that Ernesto Aycardi will become the company’s chief medical officer. Aycardi, a neurologist, comes to Burnaby, British Columbia-based Xenon from Teva Pharmaceutical (NYSE: [[ticker:TEVA]]), where he was a vice president. His experience also includes positions at EMD Serono, Biogen Idec, and Merck (NYSE: [[ticker:MRK]]). Xenon is developing treatments for neurological … Continue reading “Teva’s Aycardi Named Chief Medical Officer of Xenon Pharma”
Oxford BioTherapeutics Appoints Fandi Chief Medical Officer
Cancer drug developer Oxford BioTherapeutics (OBT) has appointed Abderrahim Fandi to serve in the newly created position of chief medical officer. Fandi comes to OBT from Celgene (NASDAQ: [[ticker:CELG]]). His experience also includes positions at Novartis (NYSE: [[ticker:NVS]]), Bristol-Myers Squibb (NYSE: [[ticker:BMY]]), and AstraZeneca (NYSE: [[ticker:AZN]]). U.K.-based Oxford Bio, which maintains U.S. operations in San … Continue reading “Oxford BioTherapeutics Appoints Fandi Chief Medical Officer”
Dohmen’s $1.6M Helps i.c. stars Expand to Milwaukee, Other Cities
A Chicago-based organization that teaches technology skills to young adults who have overcome adversity says it plans to begin holding programs in Milwaukee. Inner-City Computer Stars Foundation, or i.c. stars, says it plans to team up with companies in Milwaukee to place hundreds of young adults in jobs that require knowledge of computing concepts and … Continue reading “Dohmen’s $1.6M Helps i.c. stars Expand to Milwaukee, Other Cities”
After Quiet Deal, Music Therapy Startup Sync Project Now Part of Bose
A quick update on an intriguing Boston startup: Sync Project, which said on its blog that it is “developing music as precision medicine,” has been acquired by audio giant Bose. The deal was quietly announced last month, and no terms were disclosed. Sync Project said its public services would remain open and free to use, … Continue reading “After Quiet Deal, Music Therapy Startup Sync Project Now Part of Bose”
Bitcoin at Rodeo Houston, TurnKey Gets $31M, SXSW & More TX Tech
Here are some innovation tidbits from around the state: —Cryptocurrency seems to be everywhere, so maybe I shouldn’t have been surprised to see a “Bitcoin Accepted” sign at a food concession at Rodeo Houston this week (picture to the right.) Mark Zable, owner of Finer Diner, says he’s been into bitcoin the last couple of … Continue reading “Bitcoin at Rodeo Houston, TurnKey Gets $31M, SXSW & More TX Tech”
Bio Roundup: DIY Biohacking, PCSK9 Data, Solid Setback & More
Drug prices are top of mind for many patients. Some of them have to cut back on basic needs just to pay for treatments that seem to rise in price each year. That made a recent announcement by Regeneron Pharmaceuticals particularly unusual. The Tarrytown, NY, drugmaker plans to cut the price of its cholesterol-lowering drug … Continue reading “Bio Roundup: DIY Biohacking, PCSK9 Data, Solid Setback & More”
Harnessing the Power of Artificial Intelligence
Voice recognition lets people benefit from artificial intelligence (AI) almost without a second thought – and this technology is increasingly popular. Amazon had record sales of its Alexa device last year, with millions sold over the holiday season. Google reports that since last October, it has sold at least one Google Home smart speaker every … Continue reading “Harnessing the Power of Artificial Intelligence”
Boston Tech Watch: Raytheon, Palantir, CyberArk, CIC, Nectome & More
[Updated 3/16/18, 8:59 am. See below.] Here are some notable recent headlines from the Boston-area tech scene, including Raytheon and Palantir teaming up for a huge Army contract, another CyberArk acquisition, and a startup that wants to digitally archive your mind. Read on for details. —Waltham, MA-based defense contractor Raytheon (NYSE: [[ticker:RTN]]) and Palantir Technologies—the … Continue reading “Boston Tech Watch: Raytheon, Palantir, CyberArk, CIC, Nectome & More”
Julie Hambleton Named Ideaya Biosciences Chief Medical Officer
Cancer drug developer Ideaya Biosciences has appointed Julie Hambleton to serve as senior vice president and chief medical officer, head of development. Hambleton most recently worked at Bristol-Myers Squibb (NYSE: [[ticker:BMY]]) where she was a vice president and head of the company’s U.S. medical operations. Her experience also includes executive posts at Five Prime Therapeutics … Continue reading “Julie Hambleton Named Ideaya Biosciences Chief Medical Officer”
Anika Therapeutics’ Sherwood Retires as CEO, Darling Named Successor
Charles Sherwood, CEO of Anika Therapeutics (NASDAQ: [[ticker:ANIK]]), is retiring from the company and its board of directors after nearly 20 years. Joseph Darling, Anika’s president, will succeed Sherwood as CEO of the Bedford, MA company. Darling, who came to Anika last July, will also join the company’s board of directors. Anika develops and markets … Continue reading “Anika Therapeutics’ Sherwood Retires as CEO, Darling Named Successor”
Inclusion Gets Real: A New Level of Diversity Discourse at SXSW
Austin—There’s no question that humans have plenty of biases that carry on from generation to generation, from sexism to racism to homophobia. Those problems have carried over to machines, too—bias in the data fed to computer algorithms is an issue that comes up often. Former Stanford computer science professor Daphne Koller recalled an anecdote she … Continue reading “Inclusion Gets Real: A New Level of Diversity Discourse at SXSW”
Arcus Bio Pulls Off IPO, Raises $120M for Cancer Immunotherapies
Arcus Biosciences has raised $120 million from an initial public offering as the cancer immunotherapy developer looks ahead to reporting its first clinical data for its two lead drugs later this year. Hayward, CA-based Arcus priced its offering of 8 million shares at $15 apiece, at the high end of the $13 to $15 per … Continue reading “Arcus Bio Pulls Off IPO, Raises $120M for Cancer Immunotherapies”
Ionis Sends Nerve Drug to Spinout Akcea as Battle with Alnylam Looms
Ionis Pharmaceuticals hasn’t gone far to find a new home for a therapy that could soon be one of two approved treatments for a rare neurodegenerative disease called transthyretin amyloidosis. It’s handing the drug, known as inotersen, to its own spinout, Akcea Therapeutics. In a deal being announced this morning, Cambridge, MA-based Akcea (NASDAQ: [[ticker:AKCA]]) … Continue reading “Ionis Sends Nerve Drug to Spinout Akcea as Battle with Alnylam Looms”
Xconomy’s Napa Summit Is June 14-15: Request Your Invite Today!
Year after year, Xconomy has gathered exemplary business leaders, investors, and far-seeing technologists to our most prestigious event—The Napa Summit. This year is no different. Come join us in the heart of wine country on June 14 and 15 to listen to visionary speakers and connect with fellow innovators. The Napa Summit is by invitation-only, … Continue reading “Xconomy’s Napa Summit Is June 14-15: Request Your Invite Today!”
Mighty AI’s Training Data Helps Mcity Drive Mobility Projects Faster
Last June, when Seattle-based startup Mighty AI opened a second office in Detroit, the company said it chose the Motor City over Silicon Valley because of its proximity to automotive customers and a firm belief in the future of autonomous navigation. Mighty AI has just deepened its ties to the Great Lakes State with the … Continue reading “Mighty AI’s Training Data Helps Mcity Drive Mobility Projects Faster”
Point Loma Nazarene University Innovation and Entrepreneurship Event
Don’t miss out on an exciting opportunity to hear from June Manley, CEO & Founder of Phala Data and Founder of F4 Capital! Topics covered will be: Entrepreneurship with for- and non-profit organizations Being a female in the tech industry VC funding and eliminating biases Building ‘A’ teams
Solid Discloses More Problems As FDA Halts Duchenne Gene Therapy Study
Solid Biosciences recently completed a big IPO despite disclosing, last-minute, that the FDA had partially suspended a clinical test of its gene therapy for Duchenne muscular dystrophy. Less than two months later, the company has reported a new, and more ominous finding: the FDA has halted testing of the treatment, known as SGT-001, altogether. Cambridge, … Continue reading “Solid Discloses More Problems As FDA Halts Duchenne Gene Therapy Study”
Charged With Fraud, Theranos CEO Elizabeth Holmes Cuts Deal with Feds
Charged with what the U.S. Securities and Exchange Commission called “massive fraud,” Theranos CEO Elizabeth Holmes has cut a deal with the agency. The SEC charged Holmes and the firm’s former president Ramesh “Sunny” Balwani with “an elaborate, years-long fraud,” in which they raised $700 million dollars from investors and enjoyed a multibillion-dollar valuation by … Continue reading “Charged With Fraud, Theranos CEO Elizabeth Holmes Cuts Deal with Feds”
Dutch Biotech Raises $19M to Develop Psoriasis Drug Near San Diego
Escalier Biosciences BV, a biotech developing drugs for psoriasis and other autoimmune disorders, said it has raised $19 million in a Series B financing led by Forbion, a Dutch life sciences investor. Another Dutch investor, BioGeneration Ventures, and New York-based New Science Ventures joined the round, according to a statement from the company. While Escalier … Continue reading “Dutch Biotech Raises $19M to Develop Psoriasis Drug Near San Diego”
Walmart Expands Same-Day Delivery, Looks to Match Amazon
At the National Retail Federation’s annual conference in January, Walmart CEO Doug McMillon called the Arkansas-based, big-box retailer a technology company. On Wednesday, Walmart (NYSE: [[ticker:WMT]]) moved to make that assertion more of a reality: upping the number of cities where it provides same-day delivery to 100 cities from six—serving about 40 percent of American households … Continue reading “Walmart Expands Same-Day Delivery, Looks to Match Amazon”