Moderna, Still Private, Scoops Up Yet Another $500M

Moderna Therapeutics, the secretive messenger RNA drugmaker known in part for its preponderance of massive funding raises, has struck once again. The Cambridge, MA, company has closed yet another huge round, a $500 million haul from a wide group of domestic and international investors. New backers include the Abu Dhabi Investment Authority, BB Biotech, and … Continue reading “Moderna, Still Private, Scoops Up Yet Another $500M”

Ex-GE CEO Immelt Joins NEA as Execs Move Into Venture Investing

[Updated 2/1/18, 2:54 pm. See below.] Former General Electric chairman and CEO Jeff Immelt has joined New Enterprise Associates, the latest high-profile business executive to cross over to venture capital. Immelt has signed on as a venture partner at NEA, according to a press release. NEA has offices in the Bay Area; Washington, DC, area; … Continue reading “Ex-GE CEO Immelt Joins NEA as Execs Move Into Venture Investing”

Xconomy Bookclub: “Inferior” Peruses Science’s Historic #MeToo Bias

In his now infamous memo, ex-Google engineer James Damore cited scientific evidence to illustrate why women may not be suited for jobs at some of today’s leading tech companies. Women, he argued, are biologically more attuned to “people” jobs rather than “thing” jobs, like those in technology. But what Damore was doing, others pointed out, … Continue reading “Xconomy Bookclub: “Inferior” Peruses Science’s Historic #MeToo Bias”

As Worlds Collide: Join Xconomy for Big Data Meets Big Biology

What happens when the power of advanced computing and large-scale data technologies are applied in healthcare and the life sciences? Imagine what might happen if two tsunamis came together near the coast. On April 26, Xconomy will explore how the inexorable trends in IT and life sciences are driving transformational change, and how innovations in … Continue reading “As Worlds Collide: Join Xconomy for Big Data Meets Big Biology”

Voyager Plans Executive Succession as CEO Paul Moves to New Role

Steven Paul, a founder of Voyager Therapeutics (NASDAQ: [[ticker:VYGR]]) and its current president and CEO, plans to move on to a new role as executive science advisor. Paul will remain CEO while the Cambridge, MA-gene therapy developer searches for his successor. Paul’s first position at Voyager was president of R&D. He became president and CEO … Continue reading “Voyager Plans Executive Succession as CEO Paul Moves to New Role”

With Pellini on Board, Maris Sets Course at Section 32

It’s not easy to catch up with Bill Maris at Section 32, the venture firm he founded last year near San Diego. It took a while to arrange a call to discuss how Foundation Medicine’s Michael Pellini had joined Section 32 as Maris’s first investing partner, and what they plan to do together. Maris acknowledged … Continue reading “With Pellini on Board, Maris Sets Course at Section 32”

Gaming, Staffing, and Diversity: Techstars Picks 2018 Class for Seattle

Diversity has been a thorny problem for the tech industry—specifically its lack of minority and women-led businesses. Techstars has made a point of the issue, and promised over the last few years to try to make diversity a priority as it selects companies for its various accelerator programs. Seattle’s Techstars program announced some progress this … Continue reading “Gaming, Staffing, and Diversity: Techstars Picks 2018 Class for Seattle”

Flagship Brings in New Partners Rosiello, Pontin

Cambridge, MA, venture firm Flagship Pioneering has hired Rob Rosiello and Jason Pontin as new partners. Rosiello, a former McKinsey & Co. executive, was named an executive partner and Flagship’s chief operating officer. Pontin, the longtime editor-in-chief of MIT Technology Review, is now Flagship’s chief editor and a senior partner.

Techstars, Air Force Reveal First Boston Accelerator Investments

[Updated 2/1/18, 9:52 am. See below.] Techstars today announced the companies participating in the inaugural session of its new autonomous technology startup accelerator program in Boston, and, as advertised, there are a lot of drones involved. Six of the 10 participating companies are focused on unmanned aerial vehicles, including businesses focused on designing and making … Continue reading “Techstars, Air Force Reveal First Boston Accelerator Investments”

Ex-Merrimack, Seragon Execs’ New Startup Gets $60M, Buys Sanofi Drug

Partner Therapeutics, a Boston startup launched last week by a pair of former Merrimack Pharmaceuticals and Seragon Pharmaceuticals executives, has raised $60 million and acquired an immune system-boosting drug from Sanofi for an undisclosed sum. Partner bought Sanofi’s (NYSE: [[ticker:SNY]]) sargramostim (Leukine), a drug used to help acute myeloid leukemia patients fight infections after undergoing bone … Continue reading “Ex-Merrimack, Seragon Execs’ New Startup Gets $60M, Buys Sanofi Drug”

Avrobio Raises $60M for Fabry Disease Gene Therapy, Rest of Pipeline

Avrobio has had encouraging early results testing its experimental gene therapy to treat Fabry disease, an inherited enzyme deficiency that leads to a dangerous fatty buildup in the body. As the biotech startup gears up for more tests, it now has $60 million more in financing to support those studies and the rest of its … Continue reading “Avrobio Raises $60M for Fabry Disease Gene Therapy, Rest of Pipeline”

MIT Raising Big Bucks From Corporations to Fund A.I. “Moonshots”

MIT plans to raise “hundreds of millions of dollars” from companies and philanthropic donors for a long-term, wide-ranging research initiative bringing together faculty, students, staff, and industry to attempt to better understand human intelligence—and use that knowledge to deliver breakthroughs in artificial intelligence that might have a broad impact on society. The initiative—called MIT Intelligence … Continue reading “MIT Raising Big Bucks From Corporations to Fund A.I. “Moonshots””

Look Out, Investors: Cryptocurrency Values Slide As Warnings Take Off

Bitcoin and other cryptocurrencies have seen dramatic but volatile price surges during the past year. But this month their billions in estimated market value are eroding, amid widening suspicions against one trading platform, a half-billion-dollar heist from another exchange, and an awakened global regulatory community. Warnings are on the rise from regulators, researchers, banking executives—and … Continue reading “Look Out, Investors: Cryptocurrency Values Slide As Warnings Take Off”

Epic Upgrades Records-Sharing App in Bid to Improve Interoperability

Epic Systems says it’s added new features to Care Everywhere, a software application allowing the company’s 300-plus hospital and health clinic customers to share information about their patients. About 190 million people have a current medical record in Epic, according to the Verona, WI-based business. When members of this patient population go to another hospital … Continue reading “Epic Upgrades Records-Sharing App in Bid to Improve Interoperability”

Bessemer Makes First Indiana Investment, Leads Zylo’s $9.3M Series A

When Indianapolis-based cloud software company Zylo was making the rounds in the Bay Area last year, talking to potential investors, the company kept hearing that it should meet with Silicon Valley firm Bessemer Venture Partners. Bessemer had never backed an Indiana tech company before but the meetings must have gone well, because Zylo has announced … Continue reading “Bessemer Makes First Indiana Investment, Leads Zylo’s $9.3M Series A”

Bellicum Reveals Brain Injuries, FDA Halt on Lead T-Cell Product

Bellicum Pharmaceuticals (NASDAQ: [[ticker:BLCM]]) of Houston divulged Wednesday that its lead T-cell therapy program BPX-501 has been put on hold by the FDA. The treatment, for certain people undergoing bone marrow transplant, uses two components: off-the-shelf T cells to replace those killed in the transplant process, and a pill that acts as a “kill switch” … Continue reading “Bellicum Reveals Brain Injuries, FDA Halt on Lead T-Cell Product”

Google Pulls Plug on Webpass in Boston Amid Growing Competition

In another setback for Google’s Internet business, the tech giant has decided to wind down the Boston-area operations of Webpass, a wireless Internet service provider Google Fiber acquired in June 2016. A statement e-mailed by a Google spokeswoman didn’t give a reason for the decision. “We’ll work with customers and partners to minimize disruption, and … Continue reading “Google Pulls Plug on Webpass in Boston Amid Growing Competition”

As A.I. Takes Off, We Need a Plan to Deal with Societal Disruption

As an Xconomist, I have been asked to predict what technology might really take off in 2018. My response is something of a “cheat” in that it relates to artificial intelligence (AI), a technology that has been poised to take off next year for the past several decades and a topic about which I have … Continue reading “As A.I. Takes Off, We Need a Plan to Deal with Societal Disruption”

Engine Biosciences Nabs $10M to Develop AI-Based Drug Discovery Tech

Engine Biosciences has raised $10 million in funding to further develop its artificial intelligence-based drug discovery tool. DHVC and 6 Dimensions Capital co-led the seed investment in the San Francisco-based company. Joining in the investment were WuXi AppTec, EDBI, Pavilion Capital, Baidu Ventures, WI Harper, and Nest.Bio Ventures. Engine says it has demonstrated that the … Continue reading “Engine Biosciences Nabs $10M to Develop AI-Based Drug Discovery Tech”

Bio Buyout Spree Continues as SeaGen Bets $614M on Cascadian Cancer Drug

In the latest in a recent spate of biopharma buyouts, Seattle Genetics has struck a deal to acquire Cascadian Therapeutics, gambling on an experimental breast cancer drug in late-stage testing. SeaGen (NASDAQ: [[ticker:SGEN]]), of Bothell, WA, will pay $10 per share in cash, or $614 million, for Seattle’s Cascadian (NASDAQ: [[ticker:CASC]]) and its lead drug … Continue reading “Bio Buyout Spree Continues as SeaGen Bets $614M on Cascadian Cancer Drug”

After Paper Shakes Sector, Gene Therapy Leader Jim Wilson Talks Safety

[Updated, 1/31/18, see below] Gene therapy pioneer James Wilson and University of Pennsylvania colleagues sounded an alarm Tuesday morning about the use of gene therapy to treat severe diseases like spinal muscular atrophy and Duchenne muscular dystrophy, sending a chill across the sector. Shares of several companies inched downward as word spread about the UPenn … Continue reading “After Paper Shakes Sector, Gene Therapy Leader Jim Wilson Talks Safety”

Free Coffee, Workshops, and … Money? Geekdom Begins Offering Grants

San Antonio—Geekdom, the six-year-old co-working space in downtown San Antonio, has added a new perk to the free coffee, workshops, and mentorship opportunities it offers its more than 1,700 members: a chance at winning a $10,000 grant each month. The grant money will come directly from Geekdom, which is calling the program The Community Fund. … Continue reading “Free Coffee, Workshops, and … Money? Geekdom Begins Offering Grants”

Amazon’s New Healthcare Venture: Insurance, Drugs, or Something Else?

After months of speculation that Amazon could soon expand its presence in the healthcare sector, the Seattle-based online retail leader said Tuesday that it plans to launch a joint venture with Berkshire Hathaway and JPMorgan Chase to provide the three companies’ U.S. employees “with simplified, high-quality, and transparent healthcare at a reasonable cost.” The companies … Continue reading “Amazon’s New Healthcare Venture: Insurance, Drugs, or Something Else?”

BridgeBio Picks Up Novartis Cancer Drug, Launches New Biotech Startup

BridgeBio Pharma has launched its latest biotech startup: a company built around an abandoned Novartis cancer drug candidate that is now backed by $65 million in fresh capital. The new company, QED Therapeutics, aims to pick up where Novartis (NYSE: [[ticker:NVS]]) left off. Novartis took the drug, infigratinib, as far as mid-stage clinical trials as … Continue reading “BridgeBio Picks Up Novartis Cancer Drug, Launches New Biotech Startup”

Texas Tech Watch: Austin’s Impact Hub, Arundo Analytics & Procyrion

[Updated 1/31/18, 4:44 pm. See below.] One of the less pleasant innovations running around these days is strains of flu that seem to be hitting everyone. I, unfortunately, was not immune and out last week. Let’s get caught up on a few news items. Up first: Austin’s Impact Hub accelerator, which incubates companies with civic … Continue reading “Texas Tech Watch: Austin’s Impact Hub, Arundo Analytics & Procyrion”

Evicted from the Smart City: No Citizens Needed

Tech vendors know when they knock on the doors of local politicians to pitch smart cities technologies and promising billions in savings, they are going to find a receptive audience. Big Tech promises what politicians desperately want to hear: that we can address deep-seated, structural urban problems through business-led technological innovation and somehow sidestep the … Continue reading “Evicted from the Smart City: No Citizens Needed”

Sunovion Parkinson’s Drug Heads to FDA, Setting Up Battle With Acorda

Another drug that may help alleviate some of the debilitating symptoms of Parkinson’s disease is on its way to an FDA review, setting up a possible commercial battle between two drug developers, Sunovion Pharmaceuticals and Acorda Therapeutics. Sunovion, of Marlborough, MA, said late Monday that its experimental Parkinson’s drug, APL-130277, succeeded in a 109-patient Phase … Continue reading “Sunovion Parkinson’s Drug Heads to FDA, Setting Up Battle With Acorda”

Xconomy Presents: Big Data Meets Big Biology

As advances in genome sequencing, biomedical diagnostics, neuroscience, and other fields generate more data than the human mind can take in, new software and computing tools are taking over, transforming life sciences and healthcare by improving odds, minimizing risks, and optimizing outcomes. San Diego has been embracing this convergence of Big Data and Big Biology, … Continue reading “Xconomy Presents: Big Data Meets Big Biology”

Evergage Scoops Up MyBuys to Make Shopping More Personal

Evergage has acquired MyBuys in a deal that underscores the increasing importance of personalization in marketing products to consumers. Somerville, MA-based Evergage declined to share the price it paid to purchase the MyBuys merchandising products business from New York-based Magnetic, an advertising technology firm that merged with MyBuys in 2015. An undisclosed number of MyBuys … Continue reading “Evergage Scoops Up MyBuys to Make Shopping More Personal”

Dell Reportedly Mulling a VMware Reverse Merger: What Could It Mean?

Austin—Dell may be considering a reverse merger with VMware. Why? Dell has a load of debt and a group of private owners that bought the business off of the public markets in 2013, who may now be ready to get a return on their investment. News organizations reported during the last week that the Round … Continue reading “Dell Reportedly Mulling a VMware Reverse Merger: What Could It Mean?”

FDA Nixes Aradigm’s Inhaled Antibiotic, Asks for New Clinical Trial

Aradigm’s attempt to commercialize an inhalable version of a generic antibiotic as a treatment for chronic lung infections has stalled with the FDA’s rejection of the company’s drug approval application. Hayward, CA-based Aradigm (NASDAQ: [[ticker:ARDM]]) says it would be required to conduct another Phase 3 study of its version of ciprofloxacin (Linhaliq) in order to … Continue reading “FDA Nixes Aradigm’s Inhaled Antibiotic, Asks for New Clinical Trial”

After Conquering Detroit Auto Show, Carmera to Expand Mapping Service

At the North American International Auto Show, which just wrapped in Detroit, New York-based Carmera won best in show at the startup competition hosted by AutoMobili-D, and also received startup of the year honors in the autonomous driving category from the state’s PlanetM program. Not bad for a company that just exited stealth mode a … Continue reading “After Conquering Detroit Auto Show, Carmera to Expand Mapping Service”

Hospitals Back New LRVHealth Fund to Forge Alliances With Startups

The healthcare industry has a reputation for being slow and resistant to adopting new technologies. But more hospitals are starting to collaborate with—and even invest in—high-tech startups. The latest example is a new Boston-based venture capital fund announced Monday. LRVHealth, formerly known as Long River Ventures, said it’s planning to raise $100 million for its … Continue reading “Hospitals Back New LRVHealth Fund to Forge Alliances With Startups”

Hugin to Retire from Celgene Board, CEO Alles Adds Chairman Role

Bob Hugin, chairman of Celgene’s (NASDAQ: [[ticker:CELG]]) board of directors, plans to retire effective Feb. 5. Mark Alles, CEO of the Summit, NJ, drugmaker, will take on the additional role of chairman after Hugin steps away. Hugin joined Celgene in 1999 as CFO. He was president and chief operating officer of the company from 2006 … Continue reading “Hugin to Retire from Celgene Board, CEO Alles Adds Chairman Role”

Here’s What I Made (Finally) With My Glowforge Laser Cutter

When I lifted the lid on the Glowforge laser cutter to reveal the family portrait engraved on a wooden jigsaw puzzle, it brought a smile to my face like few other tech products I’ve used before. This simple project—enabled by a very complex machine—was a long time coming, but it was worth the wait. I … Continue reading “Here’s What I Made (Finally) With My Glowforge Laser Cutter”

Exact Sciences, Generic Drugs, WEDC & More: This Week’s WI Watchlist

Catch up on news from Wisconsin’s innovation community with these recent headlines: —Citron Research published its second report in the past 12 months arguing that prospective investors should think twice before buying stock in Madison-based Exact Sciences (NASDAQ: [[ticker:EXAS]]). The company’s flagship product is a non-invasive, stool-based DNA test for colorectal cancer called Cologuard. In … Continue reading “Exact Sciences, Generic Drugs, WEDC & More: This Week’s WI Watchlist”

Ford Buys Autonomic, TransLoc as It Rolls Toward Autonomous Future

The mobility sector’s mergers and acquisitions continue at a furious pace, the latest being Ford’s announcement this week that it bought TransLoc and Autonomic, two startups it had been partnering with as part of its efforts to get self-driving cars on the road. The terms of the deals weren’t disclosed, but one of the acquisitions … Continue reading “Ford Buys Autonomic, TransLoc as It Rolls Toward Autonomous Future”

Cybereason Hiring, Nuance CEO Retiring & More New England Tech News

[Corrected 1/26/18, 2:18 pm. See below.] Here are some of the latest technology industry headlines from the Boston area and across New England: —Cybereason plans to hire 300 people over the next two to three years, bringing the Boston-based cybersecurity company’s total number of employees to about 700, according to a spokesman. Cybereason—which also has offices … Continue reading “Cybereason Hiring, Nuance CEO Retiring & More New England Tech News”

Genomatica, Pioneer in Bio-Chemicals, Working Now on Sustainable Biz

Genomatica, a San Diego industrial biotech, has spent the past 12 years or more working to take the petroleum part out of the petrochemical industry. In 2008, for example, Genomatica showed it had bio-engineered E. coli bacteria to digest sugar, oxygen, and other nutrients in a fermentation tank—and produce 1,4-butanediol (BDO), an intermediate chemical used … Continue reading “Genomatica, Pioneer in Bio-Chemicals, Working Now on Sustainable Biz”

Graham Weston on “Seizing the Momentum” Feb. 20: Here’s the Agenda

It has happened slowly, but surely: San Antonio, not just Austin, is gathering buzz as an attractive city in Texas for startup tech entrepreneurs. On Feb. 20, Xconomy is gathering an elite group of the Alamo City’s technology and business leaders to discuss the ways San Antonio has established itself as a tech capital, as … Continue reading “Graham Weston on “Seizing the Momentum” Feb. 20: Here’s the Agenda”

Armune Bio’s Cancer Detection Tech Finds New Home with Exact Sciences

The annual J.P. Morgan Healthcare Conference, held earlier this month in San Francisco, is a popular venue for biotech companies to announce new deals and milestones achieved. One such announcement from this year’s event has largely flown under the radar:  Madison, WI-based molecular diagnostics company Exact Sciences acquired Armune BioScience, a cancer diagnostic startup with … Continue reading “Armune Bio’s Cancer Detection Tech Finds New Home with Exact Sciences”

Bio Roundup: Spark v. ICER, A Solid Revelation, T Cell Deals & More

The United States has a new Health and Human Services chief who is expected to weigh in on the country’s drug-pricing debate. But how Alex Azar, a former pharma executive at Eli Lilly (NYSE: [[ticker:LLY]]), plans to throw his weight around remains to be seen. One of the latest exhibits in the debate is an … Continue reading “Bio Roundup: Spark v. ICER, A Solid Revelation, T Cell Deals & More”

Former Merrimack Exec Mulroy Surfaces as Partner Therapeutics CEO

Robert Mulroy is now CEO of Partner Therapeutics, a Boston cancer drug developer. Mulroy was co-founder and CEO of Cambridge-based Merrimack Pharmaceuticals (NASDAQ: [[ticker:MACK]]). Partner also named Debasish Roychowdhury its chief medical officer. Roychowdhury was most recently chief medical officer of San Diego-based Seragon Pharmaceuticals, which was acquired by Genentech. His experience includes senior management … Continue reading “Former Merrimack Exec Mulroy Surfaces as Partner Therapeutics CEO”

Acceleron Pharma Chief Medical Officer Sherman Plans Retirement

Matthew Sherman, chief medical officer of Acceleron Pharma (NASDAQ: [[ticker:XLRN]]), plans to retire from the Cambridge, MA-based drug developer. Acceleron says Sherman won’t step away until after the company releases initial data from the Phase 3 study for luspatercept, a drug it is testing in partnership with Celgene (NASDAQ: [[ticker:CELG]]) as a treatment for a rare … Continue reading “Acceleron Pharma Chief Medical Officer Sherman Plans Retirement”

Solid Discloses Duchenne Problems in IPO & Raises Rival’s Hackles

[Updated, 1/26/18, see below] Solid Biosciences was expected to ride gene therapy’s wave of recent momentum to an IPO this week. But new revelations have clouded the offering, as the company revealed just before going public that its most advanced drug candidate has been under FDA scrutiny since mid-November. The gene therapy, SGT-001, is being … Continue reading “Solid Discloses Duchenne Problems in IPO & Raises Rival’s Hackles”

Novartis Pays Spark $105M Up Front for Gene Therapy Rights Outside U.S.

Spark Therapeutics is licensing to Novartis the rights to its gene therapy outside of the U.S., a deal that puts the treatment for a rare, inherited form of blindness in the hands of a large pharmaceutical company with the resources to commercialize the drug globally. Novartis (NYSE: [[ticker:NVS]]) is paying Spark (NASDAQ: [[ticker:ONCE]]) $105 million … Continue reading “Novartis Pays Spark $105M Up Front for Gene Therapy Rights Outside U.S.”