The top biopharma story of the week involves the fast-moving field of lung cancer, which, as we’ve written previously, has several key trials reading out in 2018. A big domino fell this week: data from a two-drug immunotherapy combination developed by Bristol-Myers Squibb. But the results, touted as positive, left more questions than answers. First, … Continue reading “Bio Roundup: Lung Cancer Questions, Migraine Races, HIV Battle & More”
How Techies Can Get Engaged in Seattle
I meet a lot of tech workers, especially newcomers to Seattle, who want to get involved in the community. Many nonprofit leaders ask me how to engage these techies to volunteer and to give. Techies are motivated to volunteer for the following reasons: expand their network; get to know their community; exercise their skills outside … Continue reading “How Techies Can Get Engaged in Seattle”
Teva Migraine Drug Likely Delayed by Manufacturing Trouble
Teva Pharmaceutical’s bid to bring a new migraine drug to the market faces a possible delay due to manufacturing problems found with one of the company’s partners, and observers are skeptical about whether Teva will be able to get it over the finish line. The FDA was set to issue a decision about Teva’s (NYSE: … Continue reading “Teva Migraine Drug Likely Delayed by Manufacturing Trouble”
4490 Ventures Raises $49M Fund to Support Startups in Midwest
4490 Ventures, a Madison, WI-based venture capital firm that supports startups in the Midwest, has raised $49 million for its second fund, according to a document filed with federal securities regulators on Wednesday. Greg Robinson, managing director at 4490, says the document is an “interim filing” and 4490 plans to finish raising its second fund … Continue reading “4490 Ventures Raises $49M Fund to Support Startups in Midwest”
Genomenon and Saphetor Announce Collaboration to Share Genomic Data
Genomenon, a University of Michigan spinout that has created a search engine for genomics literature, this week announced a collaboration with Saphetor, a Swiss company that offers precision medicine analysis. Genomenon CEO Mike Klein says the partnership broadens the productivity of each company’s platform and benefits their users. Last year, Genomenon went live with Mastermind, … Continue reading “Genomenon and Saphetor Announce Collaboration to Share Genomic Data”
Instant Gratification: Whole Foods, Target Offer Same-Day Delivery
[Updated 2/8/18, 1:39 pm.] The race is on to sign up consumers seeking same-day delivery of groceries, household items, and personal goods. Late on Wednesday, Amazon (NASDAQ: [[ticker:AMZN]]) announced it has started free two-hour delivery of products from Whole Foods Market, the most significant example of the e-commerce giant using technology at the Austin, TX-based … Continue reading “Instant Gratification: Whole Foods, Target Offer Same-Day Delivery”
Intellia Exec Nessan Bermingham Rejoins Atlas as Venture Partner
Nessan Bermingham, the founding CEO of CRISPR drug maker Intellia Therapeutics (NASDAQ: [[ticker:NTLA]]), is returning to Atlas Venture as a venture partner. Bermingham led Intellia from its incubation in the Cambridge, MA, venture capital firm through its 2016 initial public stock offering. Bermingham first joined Atlas in 2002. In his new role, Atlas said Bermingham … Continue reading “Intellia Exec Nessan Bermingham Rejoins Atlas as Venture Partner”
LogMeIn to Buy Jive For $342M+, Boost Business Communications Tools
LogMeIn is getting more aggressive in the business communications market, inking a deal to acquire Jive Communications for at least $342 million in cash. Boston-based LogMeIn (NASDAQ: [[ticker:LOGM]]) said it could pay an additional $15 million in cash if Jive meets certain milestones during the two years following the deal’s closing, expected to happen in … Continue reading “LogMeIn to Buy Jive For $342M+, Boost Business Communications Tools”
Alexion’s Bedrosian Named Chief Medical Officer of Ultragenyx
Rare disease drug developer Ultragenyx Pharmaceutical (NASDAQ: [[ticker:RARE]]) has named Camille Bedrosian executive vice president and chief medical officer. Before joining the Novato, CA-based company, Bedrosian was senior vice president and chief medical officer of Alexion Pharmaceuticals (NASDAQ: [[ticker:ALXN]]) in New Haven, CT. Ultragenyx added gene therapy to its drug pipeline last fall through its … Continue reading “Alexion’s Bedrosian Named Chief Medical Officer of Ultragenyx”
Rep. Jared Polis Asks Congress to Disclose Cryptocurrency Holdings
Members of Congress are required to disclose many details about their personal finances. Jared Polis, a Democratic U.S. Representative from Colorado—and a successful Internet entrepreneur—contends that elected representatives and certain staffers should also be required to disclose cryptocurrencies like Bitcoin and Ethereum, even though that’s not necessarily happening now. Polis wants it to become a … Continue reading “Rep. Jared Polis Asks Congress to Disclose Cryptocurrency Holdings”
Immelt Named Athenahealth Chairman as Firm’s Transition Rolls On
Former GE chief executive Jeff Immelt is keeping busy. Healthcare IT firm Athenahealth said Wednesday that Immelt (pictured on the left) has been appointed chairman of its board of directors, effective immediately. Watertown, MA-based Athenahealth (NASDAQ: [[ticker:ATHN]]) said Immelt will make a financial investment in the company (an undisclosed amount) and “plans to purchase approximately … Continue reading “Immelt Named Athenahealth Chairman as Firm’s Transition Rolls On”
Battery Startup Ionic Materials Gets $65M Jolt From Nissan & Others
[Updated 2/16/18, 5:27 pm. See below.] Big automakers are betting that solid-state battery technology from Massachusetts-based startup Ionic Materials could eventually challenge the standard lithium-ion batteries used in today’s electric vehicles. Woburn, MA-based Ionic announced Wednesday it secured $65 million in a Series C funding round. The investors include Alliance Ventures—a venture capital fund backed … Continue reading “Battery Startup Ionic Materials Gets $65M Jolt From Nissan & Others”
Detroit Needs Seed-Stage Capital More Than VC Disruption
Big changes are happening in the venture asset class: SoftBank somehow wants to put $880 billion to work in the next 10 years; Sequoia (and the other flagship growth firms) are trying to figure out how to compete and are raising huge funds; Social Capital is trying to make going public easier through blank check … Continue reading “Detroit Needs Seed-Stage Capital More Than VC Disruption”
Pompe Disease Patients on Amicus Drug Continue to Improve in Study
Patients treated with an experimental Amicus Therapeutics drug for Pompe disease continued to show improvement in their ability to walk, move, and breathe after as long as one year on the therapy, according to the latest clinical trial results from the rare disease drug developer. The open-label study is small, testing the drug in just … Continue reading “Pompe Disease Patients on Amicus Drug Continue to Improve in Study”
Fiserv to Net $395M from Partial Sale of Business to Warburg Pincus
Fiserv, a financial technology business that has fueled its growth in part through a series of mergers and acquisitions, said Wednesday that the private equity firm Warburg Pincus purchased a controlling interest in Fiserv’s lending unit. Brookfield, WI-based Fiserv (NASDAQ: [[ticker:FISV]]) said Warburg Pincus, of New York, acquired a 55 percent share in Fiserv’s Lending … Continue reading “Fiserv to Net $395M from Partial Sale of Business to Warburg Pincus”
Theravance Snares $100M From Janssen in Stomach Drug Deal
Theravance Biopharma is teaming up with Janssen Biotech to develop a group of drugs for intestinal diseases such as ulcerative colitis and Crohn’s. Dublin, Ireland based-Theravance Biopharma (NASDAQ: [[ticker:TBPH]]), which has U.S. operations in South San Francisco, CA, will receive $100 million up front in the deal. The company could gain up to $900 million … Continue reading “Theravance Snares $100M From Janssen in Stomach Drug Deal”
Akamai Lays Off 400, Scales Back R&D Projects Amid Investor Pressure
Akamai Technologies has laid off about 400 people, or 5 percent of its global staff, as it pares research and development initiatives—primarily in its video content delivery division—that haven’t translated into commercial success. The cuts were disclosed Tuesday in a press release and conference call with investor analysts about Cambridge, MA-based Akamai’s (NASDAQ: [[ticker:AKAM]]) 2017 … Continue reading “Akamai Lays Off 400, Scales Back R&D Projects Amid Investor Pressure”
As Rackspace Battled and Befriended Amazon, San Antonio Tech Matured
San Antonio—The Alamo city has never received much credit for its work in technology. One local executive likes to say that San Antonio works on the plumbing of the Internet. Compared to Austin, a renowned tech capital about 90 miles to the north of San Antonio, that description seems pretty accurate. Austin holds hip tech … Continue reading “As Rackspace Battled and Befriended Amazon, San Antonio Tech Matured”
Texas Tech: RigUp Funds, TMCx Startups, SpaceX Launch & HQ2 Rumors
The latest cold front that’s swept through Texas doesn’t help the hump day blues, but distract yourself with another cup of something warm and catch up with the innovation news in Texas’s startup ecosystem. —Austin energy startup RigUp raised $15.8 million in a Series B round, according to a company press release. Investors include Quantum Energy … Continue reading “Texas Tech: RigUp Funds, TMCx Startups, SpaceX Launch & HQ2 Rumors”
Ex-MAP Execs Start Xoc with Plans to Leapfrog New Migraine Drugs
Patients should have better ways to prevent migraine headaches, says Scott Borland, president and CEO of Xoc Pharmaceuticals. Current generic drugs bring unwanted side effects. New options are on the way, but they will likely be expensive. Los Gatos, CA-based Xoc is now in the mix too. Xoc is developing a pill meant to prevent … Continue reading “Ex-MAP Execs Start Xoc with Plans to Leapfrog New Migraine Drugs”
Big Car-Auction Firm KAR Buys SF Mobility Support Startup Stratim
With an eye toward a greater role in the future of mobility services, the big Indiana used-car auction company KAR announced Wednesday it acquired Stratim, a software startup that organizes maintenance and repairs for car-sharing fleets. Carmel, IN-based KAR (NYSE: [[ticker:KAR]]) says Stratim not only augments its core auction business, but also bolsters its advances … Continue reading “Big Car-Auction Firm KAR Buys SF Mobility Support Startup Stratim”
Two Weeks Until San Antonio Tech: Seizing the Momentum—Win Tickets!
In just a few weeks, Xconomy is hosting it’s first public event in the Alamo City, San Antonio Tech: Seizing the Momentum. It’s all happening on Feb. 20 at the Pearl Stable—take a look at the agenda and full line up of speakers. How can the region become a national leader in the industry? We … Continue reading “Two Weeks Until San Antonio Tech: Seizing the Momentum—Win Tickets!”
At Verastem, Infinity’s Former Blood Cancer Drug Heads to FDA
Verastem has filed for FDA approval of duvelisib, a blood cancer drug the Needham, MA, company took a shot on in a 2016 bargain deal with Infinity Pharmaceuticals. Verastem will seek approval of duvelisib as a treatment for patients who have one of three different blood cancers—chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma, or follicular … Continue reading “At Verastem, Infinity’s Former Blood Cancer Drug Heads to FDA”
With New Test, Schadt’s Sema4 Aims to Broaden Scope of Newborn Screening
Sema4, the company that computational geneticist Eric Schadt spun out of the Icahn School of Medicine at Mount Sinai last year, is making a new bet this morning. The New York and Connecticut startup is launching a diagnostic, Sema4 Natalis, meant to go well beyond the typical tests hospitals run on newborn babies to check … Continue reading “With New Test, Schadt’s Sema4 Aims to Broaden Scope of Newborn Screening”
IU Health Expands Precision Genomics Program for Cancer Patients
When Gwen Brack was a junior in college, she was diagnosed with stage IV rectal cancer. She sought treatment, but the cancer soon returned and then spread to her liver and bladder. She underwent rounds of chemotherapy and nine surgeries, but the cancer kept growing. Eventually, she was referred to Indiana University Health’s precision genomics … Continue reading “IU Health Expands Precision Genomics Program for Cancer Patients”
Medical and Patient Groups Warn Congress Against “Right to Try”
Dozens of medical organizations and patient advocacy groups are pushing back against so-called “right-to-try” legislation that passed the Senate in August and is now under consideration in the House. An open letter sent today to House leaders is the latest opposition to the Republican-led push to give desperate patients access to experimental drugs without FDA … Continue reading “Medical and Patient Groups Warn Congress Against “Right to Try””
Virtual Assistant Startup iDAvatars to Shut Down, Seek Buyer
Sophisticated virtual assistants could become powerful tools in healthcare, finance, and other sectors, but the market for them is still relatively small and fraught with potential pitfalls—especially for startups. The story of iDAvatars, a Mequon, WI-based company that develops software allowing users to interact with virtual assistants, is one of the latest reminders. The firm … Continue reading “Virtual Assistant Startup iDAvatars to Shut Down, Seek Buyer”
Walmart Brings Virtual Reality to Retail With Purchase of Spatialand
Walmart’s tech incubator in Silicon Valley, Store No 8, has acquired Spatialand, a virtual reality software firm, as its third portfolio company. While much of the focus in using VR has been on gaming and entertainment, “virtual reality has the potential to reinvent the consumer experience—with an experience we call contextual commerce,” according to a … Continue reading “Walmart Brings Virtual Reality to Retail With Purchase of Spatialand”
CloudBees Buys Codeship to Boost Software Delivery Tools
[Updated 2/7/18, 4:04 pm. See below.] CloudBees is snapping up Codeship in a union of two software development toolmakers founded in the early 2010s. Terms of the acquisition weren’t disclosed in a press release. San Jose, CA-based CloudBees, which used to be headquartered in the Boston area, is bringing on Codeship’s team of around 30 … Continue reading “CloudBees Buys Codeship to Boost Software Delivery Tools”
A16Z Bio Fund’s Pande Sees A.I. as Way to Ride Bio Innovation
As Andreessen Horowitz begins to invest the $450 million the bellwether venture firm recently raised for its second bio fund, general partner Vijay Pande has been talking increasingly about the use of artificial intelligence in the life sciences. In a presentation a few months ago at the firm’s annual a16z Summit, Pande argued that many … Continue reading “A16Z Bio Fund’s Pande Sees A.I. as Way to Ride Bio Innovation”
Battery Ventures Recharges With $1.25B in Two New Funds
Battery Ventures, a 35-year-old global investment firm, has reeled in $1.25 billion to continue backing high-tech companies. Boston-based Battery announced two new funds on Tuesday: an $800 million fund, Battery Ventures XII; and a $450 million companion, Battery Ventures XII Side Fund, from which the firm will make larger growth and private-equity investments. Battery’s deals … Continue reading “Battery Ventures Recharges With $1.25B in Two New Funds”
As Migraine Races Heat Up, Allergan Touts New Data for Headache Pill
The push to treat migraines with a new class of medicines took another turn on Tuesday when Allergan presented clinical data for an experimental pill meant to help fend off the debilitating headaches after they start. Allergan’s (NASDAQ: [[ticker:AGN]]) ubrogepant, met its main goals in the first of two Phase 3 studies. In a trial … Continue reading “As Migraine Races Heat Up, Allergan Touts New Data for Headache Pill”
After Record-Breaking 2017, Invest Michigan Expects Another Big Year
Invest Michigan, the Detroit-based early-stage capital fund, had an eventful 2017 and is off to a busy start already in 2018. We caught up with CEO Charlie Moret for an update and to find out what’s ahead for the fund in the coming year. Invest Michigan, established in 2014 by the Michigan Economic Development Corporation, … Continue reading “After Record-Breaking 2017, Invest Michigan Expects Another Big Year”
Pay It Forward: Capital Drives Bio Innovation in San Diego & Beyond
After starting Organovo in 2007, I spent much of the next decade as CEO seeking financing to advance our bioprinting technology. Because I stepped out of an operational role early last year, I am now in a position of providing financing to aspiring life sciences entrepreneurs. The change has caused me to reflect a bit … Continue reading “Pay It Forward: Capital Drives Bio Innovation in San Diego & Beyond”
Prothena Chief Medical Officer Sarah Noonberg Resigns
Prothena’s (NASDAQ: [[ticker:PRTA]]) chief medical officer, Sarah Noonberg, is stepping down from her post nine months after starting the job. Ireland-based Prothena, which has its U.S. operations in South San Francisco, CA, gave no reason for Noonberg’s departure other than to say that she decided to resign and will provide “transitional support” to the company … Continue reading “Prothena Chief Medical Officer Sarah Noonberg Resigns”
Dragonfly Therapeutics Appoints Cuillerot Chief Medical Officer
Cancer drug developer Dragonfly Therapeutics has appointed Jean-Marie Cuillerot to become its chief medical officer. Cuillerot’s experience in immunotherapy includes posts at Bristol-Myers Squibb (NYSE: [[ticker:BMY]]) and Merck Serono. Last year, Waltham, MA-based Dragonfly landed a partnership with Celgene (NASDAQ: [[ticker:CELG]]) that paid the startup $33 million up front to develop up to four blood … Continue reading “Dragonfly Therapeutics Appoints Cuillerot Chief Medical Officer”
Out of MIT, a $21M Startup Battle Brews Over Next-Gen A.I. Chips
Here are the makings of an interesting tale. It involves two competing tech spinouts from MIT, and two rival CEOs who were co-authors on a key research paper. And now, each company has raised on the order of $10 million from venture capitalists to win what could become a major race. It’s Lightelligence versus Lightmatter, … Continue reading “Out of MIT, a $21M Startup Battle Brews Over Next-Gen A.I. Chips”
Bristol-Myers Immune Drug Combo Hits Early Mark in Lung Cancer Study
[Updated 2/5/18, 2:36 p.m. See below.] A combination of two Bristol-Myers Squibb immunotherapies has achieved the main goal of a late-stage study in lung cancer, according to preliminary results the company released on Monday. But even though Bristol says the trial supports a new way of identifying patients who could best respond to its treatment, … Continue reading “Bristol-Myers Immune Drug Combo Hits Early Mark in Lung Cancer Study”
E-Commerce Firm Dearduck Uses A.I. in the Hunt for the Perfect Gift
Houston—Knowledge is power, but too much of a good thing can render data meaningless. That’s the struggle many retailers have in an age of data analytics. Think about the retailer e-mails we receive daily or the ads that appear on Google or our social media sites. Though based on our Web searches, those ads don’t … Continue reading “E-Commerce Firm Dearduck Uses A.I. in the Hunt for the Perfect Gift”
University of Michigan Presents: Startup High School
Startup High School was founded in 2013 with the primary goal of expanding high school students’ creativity and innovation and inspiring them to get involved in entrepreneurship. Hundreds of high school students submit their unique startup ideas to compete in a national video pitch challenge. The applicants that stand out the most will qualify to … Continue reading “University of Michigan Presents: Startup High School”
College Testing Firm ACT Invests in Edtech Startup Smart Sparrow
ACT, the big college admissions testing organization whose CEO aims to make it an educational venture as well, is investing $7.5 million in interactive online learning startup Smart Sparrow. Smart Sparrow specializes in online courses that teach students how to master skills that have a physical component, such as biological laboratory techniques and drawing for … Continue reading “College Testing Firm ACT Invests in Edtech Startup Smart Sparrow”
Entrepreneurs Look to Angels and Micro-VCs for Cash
You don’t need me to tell you it’s a rough world out there for startups. Venture capitalists have been unusually stingy lately, hanging on to billions of dollars they’d typically be channeling into promising young companies. When those investors do open their wallets, they’re shunning risky investments in favor of what the Wall Street Journal … Continue reading “Entrepreneurs Look to Angels and Micro-VCs for Cash”
Arcturus Terminates CEO, Names Mark Herber as Interim President
Arcturus Therapeutics (NASDAQ: [[ticker:ARCT]]) said today it has fired co-founder and CEO Joseph E. Payne (on the right in above photo), and named Mark Herber, vice president of business development and alliance management, as interim president. The San Diego-based early stage biotech, which specializes in RNA medicines, did not explain in a statement today why … Continue reading “Arcturus Terminates CEO, Names Mark Herber as Interim President”
Surefire Medical Appoints Szela CEO, Chomas Shifts to CTO
Mary Szela has been named CEO and president of Denver-based Surefire Medical. Szela’s chief executive experience includes posts at Melinta Therapeutics (NASDAQ: [[ticker:MLNT]]) and later, Novelion Therapeutics (NASDAQ: [[ticker:NVLN]]). At Surefire, she succeeds James Chomas, the company’s founder and its chief executive since 2009. Chomas will move to a different role as chief technology and … Continue reading “Surefire Medical Appoints Szela CEO, Chomas Shifts to CTO”
Electric Harley, Ab E, D2P, & More: This Week’s Wisconsin Watchlist
During a ceremony held at dawn on Friday in Sun Prairie, WI, Jimmy the Groundhog saw his shadow, which according to Groundhog Day lore means Wisconsin will not be having an early spring this year. Whether it’s frigid temperatures, flu season, or something else keeping you indoors, take a few minutes to stay current on … Continue reading “Electric Harley, Ab E, D2P, & More: This Week’s Wisconsin Watchlist”
A Startup Ecosystem Pioneer, Houston Tech Center Closes After 19 Years
Houston—The Houston Technology Center, the city’s oldest organization dedicated to boosting local startups, has been shut down. HTC, founded as a non-profit in 1999, was last October brought under the umbrella of a new initiative called Houston Exponential. HX, as it is called, was unveiled as a comprehensive citywide approach to boosting Houston’s community for … Continue reading “A Startup Ecosystem Pioneer, Houston Tech Center Closes After 19 Years”
Bio Roundup: Wilson’s Warning, Amazon’s Health Biz, Moderna Cash & More
The State of the Union address was…. long. At one hour and 20 minutes, President Trump fell about 9 minutes shy of the high mark. But those who stayed tuned in heard comments about several health policy matters. The president credited the FDA for a record number of generic drug approvals in 2017, which PwC … Continue reading “Bio Roundup: Wilson’s Warning, Amazon’s Health Biz, Moderna Cash & More”
A.I. Meets Ethnography: Spatial Drives Mobility Via Social Media Data
We’ve all heard the old chestnut about being careful what we say on social media, because once it’s posted to the Internet, it lives on in perpetuity. Despite those warnings, people reveal an enormous amount about their lives, opinions, and preferences on sites such as Facebook and Twitter, and a Cincinnati-based startup called Spatial is … Continue reading “A.I. Meets Ethnography: Spatial Drives Mobility Via Social Media Data”
Boston Tech Watch: Immelt, VirZoom, Salsify, ClickSoftware & More
It’s time to catch up on some of the latest Boston-area tech headlines: —There were two notable venture capital hires this week with Boston ties. General Catalyst Partners named departing American Express CEO Ken Chenault as chairman and a managing director. Chenault will be based in the venture capital firm’s New York office, the New … Continue reading “Boston Tech Watch: Immelt, VirZoom, Salsify, ClickSoftware & More”
Microsoft to Provide Backing for Gener8tor’s Detroit Programs
Microsoft has expanded its partnership with Gener8tor, an organization that holds training programs for entrepreneurs in several Midwestern states, to support startups with connections to the Detroit area. Wisconsin-based Gener8tor said that with support from Microsoft (NASDAQ: [[ticker:MSFT]]), it will enroll up to 15 companies in free, seed-stage accelerator programs each year. Startups selected to … Continue reading “Microsoft to Provide Backing for Gener8tor’s Detroit Programs”