San Antonio—Evestra, a San Antonio life science company that develops women’s health products, has a new shareholder: pharmaceutical firm Gedeon Richter, a long-time partner based in Budapest, Hungary. Gedeon, which recorded revenue of 1.25 billion euro ($1.32 billion) in 2016, has had a licensing partnership with Evestra for about six years. In 2015, Gedeon provided … Continue reading “Gedeon Richter Takes Stake in Women’s Health Drug Maker Evestra”
Google Launches a MOOC to Train Entry-Level IT Support Staffers
Big tech companies like Google are facing heat for developing disruptive technologies that can make traditional jobs obsolete. But at the same time, the tech industry is growing fast, and is eager to recruit workers outside the sector to fill entry-level jobs that often go begging, a Google executive says. Google is betting on online … Continue reading “Google Launches a MOOC to Train Entry-Level IT Support Staffers”
Merck Is Latest to Tout Success as Lung Cancer Drug Combos Plow Forward
This morning has brought another positive development in the rapidly changing treatment landscape for lung cancer. Merck reported that a combination regimen utilizing its immunotherapy drug, pembrolizumab (Keytruda), has succeeded in a confirmational Phase 3 study. Merck (NYSE: [[ticker:MRK]]) said that a trial in which 614 patients just diagnosed with non-small cell lung cancer got … Continue reading “Merck Is Latest to Tout Success as Lung Cancer Drug Combos Plow Forward”
A.I. Could Be Double-Edged Sword for Cybersecurity Industry in 2018
It’s no secret that artificial intelligence is becoming increasingly influential in cybersecurity—on both sides of the battlefield. And while it’s no secret, it should also be no surprise. Although, in many ways, A.I. is still in its infancy, with nearly every industry investing in the space and many companies already benefiting from automation and business … Continue reading “A.I. Could Be Double-Edged Sword for Cybersecurity Industry in 2018”
Boston E-Commerce Data Firm True Fit Snags $55M in New Funds
True Fit, a Boston-area startup that is creating “a genome for apparel and footwear,” announced this morning a Series C investment of $55 million. Georgian Partners led the funding round with participation from existing investors Jump Capital, Signal Peak Ventures, and Intel Capital, along with new investor Cross Creek Capital. “We’ve built a preference map … Continue reading “Boston E-Commerce Data Firm True Fit Snags $55M in New Funds”
Why Human Extinction Needs a Marketing Department
Experts at Oxford University and elsewhere have estimated that the risk of a global human extinction event this century—or at least of an event that wipes out 10 percent or more of the world’s population— is around 1 in 10. The most probable culprits sending us the way of the dinosaur are mostly anthropogenic risks, … Continue reading “Why Human Extinction Needs a Marketing Department”
Genentech’s Cindy Elkins Joins Juno Tx as Chief Information Officer
Juno Therapeutics (NASDAQ: [[ticker:JUNO]]) has appointed Cindy Elkins to serve as chief information officer. Elkins comes to the Seattle cancer immunotherapy developer from Genentech, where she was vice president, IT, for the Americas. Before Genentech, Elkins worked at software and IT services firm Ariba.
OrphoMed Names Mark Sostek Chief Medical Officer
Mark Sostek is joining San Francisco-based drug developer OrphoMed as chief medical officer. Sostek most recently worked at Pfizer (NYSE: [[ticker:PFE]]) in its inflammation and immunology research unit. Before that, he was global clinical leader for gastrointestinal programs at AstraZeneca (NYSE: [[ticker:AZN]]). OrphoMed’s lead drug candidate, ORP-101, is in early-stage clinical testing for irritable bowel … Continue reading “OrphoMed Names Mark Sostek Chief Medical Officer”
Exact Sciences, Shine, Redox & More: This Week’s Wisconsin Watchlist
Keep up with the latest news from Wisconsin’s innovation community with these recent headlines: —Exact Sciences said it plans to raise up to $600 million through the sale of notes that can be converted into cash or shares of the company’s common stock, starting in 2025. Madison-based Exact (NASDAQ: [[ticker:EXAS]]) is developing several screening tests … Continue reading “Exact Sciences, Shine, Redox & More: This Week’s Wisconsin Watchlist”
SkySpecs Snags $8M to Expand Drone-Powered Turbine Inspection Service
Drone startup SkySpecs announced this week that it has raised an $8 million Series B funding round. The investment in the Ann Arbor, MI-based company was co-led by Germany’s Statkraft Ventures, the Capital Midwest Fund, and UL Ventures, and also included contributions from returning investors such as Huron River Ventures and Venture Investors. A lot … Continue reading “SkySpecs Snags $8M to Expand Drone-Powered Turbine Inspection Service”
Philips CEO Wants to Be Near “Hotspots of Talent” to Take On GE, IBM
Boston’s healthcare technology cluster is getting more crowded. Dutch healthtech giant Philips intends to plant an even bigger flag here, ramping up its local efforts to develop products like machine-learning software for healthcare, as other big firms like IBM and General Electric do the same. Philips (NYSE: [[ticker:PHG]]) announced Thursday it plans to relocate its … Continue reading “Philips CEO Wants to Be Near “Hotspots of Talent” to Take On GE, IBM”
Spark CEO Marrazzo on Gene Therapy Pricing & Paving the Way for the Field
[Updated, 1/13/17, 11:15 a.m. ET] After decades of research and scientific ups and downs, the first U.S. gene therapy, a single, long-lasting treatment called voretigene neparvovec (Luxturna) for rare, inherited blindness, is now on the market. But the commercial challenge facing its developer, Spark Therapeutics, is daunting. Can Spark lead the way in showing that … Continue reading “Spark CEO Marrazzo on Gene Therapy Pricing & Paving the Way for the Field”
Baylor’s Donoviel to Lead Space Health Innovation Institute
Houston—Dorit Donoviel, a veteran space health scientist, has officially been named director of the Translational Research Institute for Space Health at Baylor College of Medicine. Donoviel has been with the institute since its founding in 2016, and had been acting director since last April when Graham Scott, another Baylor scientist, left the position. Donoviel had … Continue reading “Baylor’s Donoviel to Lead Space Health Innovation Institute”
CRISPR Recovery? “Furor” Briefly Snips $500M From Companies’ Values
Is the J.P. Morgan CRISPR rollercoaster ride over? As rain fell heavily in San Francisco Monday, the first day of the massive healthcare conference, biotech stocks did, too. At least three of the companies getting drenched could blame a research paper that came out the previous Friday, January 5, after the markets closed. In fact, … Continue reading “CRISPR Recovery? “Furor” Briefly Snips $500M From Companies’ Values”
Bio Roundup: #JPM18, Axovant’s Fall, CRISPR Caveat, Impact M&A & More
Have you gotten your flu shot yet this year? This winter’s flu season is shaping up to be a particularly nasty one and the Centers for Disease Control and Prevention this week upped its tally of states reporting widespread flu activity to 46. Flu awareness was top of mind at the J.P. Morgan Healthcare Conference … Continue reading “Bio Roundup: #JPM18, Axovant’s Fall, CRISPR Caveat, Impact M&A & More”
Mark Cuban, Jaguar, Zuckerberg Firm & Others Back Boston Startups
[Updated 1/12/18, 10:29 am. See below.] The new year has ushered in a flurry of venture funding deals in the Boston area, including investments from Jaguar Land Rover, Dallas Mavericks owner Mark Cuban, and a company founded by Facebook CEO Mark Zuckerberg and his wife, Priscilla Chan. Read on for details. —Boston-based edtech startup Ellevation, … Continue reading “Mark Cuban, Jaguar, Zuckerberg Firm & Others Back Boston Startups”
Boston Tech Watch: TripAdvisor, DraftKings, Jibo & More
[Updated 1/12/18, 3:26 pm. See below.] It’s the end of the week. Time to catch up on some of the latest happenings in the Boston-area tech sector: —DraftKings plans to hire almost 300 employees over the next year-and-a-half and will move into a new headquarters near downtown Boston that is more than double the size … Continue reading “Boston Tech Watch: TripAdvisor, DraftKings, Jibo & More”
TAI Diagnostics Raises $10M, Inks Deal With United Therapeutics
TAI Diagnostics said earlier this week that it had closed a $10 million round of funding and forged a new partnership with United Therapeutics (NASDAQ: [[ticker:UTHR]]). Wauwatosa, WI-based TAI, whose name stands for “Transplant and Immunology” and is pronounced “tie,” is seeking to commercialize a non-invasive test to monitor the health of transplant recipients. Three-year-old … Continue reading “TAI Diagnostics Raises $10M, Inks Deal With United Therapeutics”
LendingPoint Adds Point-of-Sale Financing with LoanHero Buyout
LendingPoint, an online provider of direct loans to consumers, has acquired LoanHero, the San Diego fintech with technology that enables merchants to extend instant financing to consumers at the point of sale. Financial terms of the buyout were not disclosed in an announcement Thursday. The acquisition enables LendingPoint, which focuses on near-prime consumers (with FICO … Continue reading “LendingPoint Adds Point-of-Sale Financing with LoanHero Buyout”
Cahoots Hires Manager, Partially Opens 24,000-Square-Foot Tech Hub
In 2015, Joe Malcoun and Guy Suter first told Xconomy about their plans to create a tech hub in downtown Ann Arbor, MI. “Guy and I are an explosive, dangerous mix, because we have a hard time saying no to cool ideas and we love risk,” Malcoun said during the interview, explaining why the two … Continue reading “Cahoots Hires Manager, Partially Opens 24,000-Square-Foot Tech Hub”
E-Commerce Firm Black Rifle Coffee Has Expansion in Its Sights
There wasn’t a lot that Evan Hafer could control on his half-dozen deployments to Iraq and Afghanistan as a Green Beret and CIA contractor. But the one thing he could do something about was the terrible coffee. “I started roasting my own coffee and taking it with me overseas,” he says. “I set up a … Continue reading “E-Commerce Firm Black Rifle Coffee Has Expansion in Its Sights”
Notes From the JPM ’18 Vortex: Gene Therapy’s Reckoning and Lonely Cabs
The annual J.P. Morgan Healthcare conference in San Francisco winds down today, meaning the remaining stragglers are either presenting to half-empty rooms or headed back to colder climes. Compared to a 2017 full of scientific milestones—FDA approvals of gene and cell therapies, a clinical victory for RNA interference, and more—the meeting itself was rather dull. … Continue reading “Notes From the JPM ’18 Vortex: Gene Therapy’s Reckoning and Lonely Cabs”
Boston’s Tech Agenda for 2018: 3 Questions, 3 Sectors to Watch
[Updated 1/11/18, 9:23 am. See below.] Ready or not, 2018 is upon us. The tech industry grappled with serious and difficult issues last year, from a series of sexual harassment and assault allegations; to fears about the effects of social media and other online platforms on our politics, public discourse, and minds; to more (and … Continue reading “Boston’s Tech Agenda for 2018: 3 Questions, 3 Sectors to Watch”
Toyota, Ford, Aptiv, Baidu Lead Crowd Pushing Mobility at CES
In the past, the tech conference CES has primarily highlighted consumer electronics and other cool gadgets, but as automakers continue their quest to be taken seriously by the tech industry, the Las Vegas show held every January has increasingly become the venue of choice for car companies that want to show off their latest autonomous … Continue reading “Toyota, Ford, Aptiv, Baidu Lead Crowd Pushing Mobility at CES”
Loving LTE or Tossing the Smartphone: Tech Leaders Share New Habits
We asked people around the Xconomy network whether their personal patterns of technology usage changed much in response to something that happened in 2017, as part of our series of perspectives and predictions marking the start of a new year. Here are answers from Ben Gilbert, co-founder of Pioneer Square Labs in Seattle and interim … Continue reading “Loving LTE or Tossing the Smartphone: Tech Leaders Share New Habits”
BioClin Therapeutics Adds Gilead’s Steve Abella to Executive Team
Esteban (Steve) Abella has been appointed chief medical officer of San Ramon, CA-based BioClin Therapeutics. Abella most recently worked at Gilead Sciences (NASDAQ: [[ticker:GILD]]), where he was a senior director leading the company’s non-Hodgkin lymphoma and leukemia efforts. BioClin also named Graeme Currie to the chief operating officer post. Currie’s experience includes senior leadership positions … Continue reading “BioClin Therapeutics Adds Gilead’s Steve Abella to Executive Team”
AOBiome Therapeutics Promotes Todd Krueger to CEO
Todd Krueger has been named CEO of AOBiome Therapeutics. In addition to serving as CEO, Krueger will keep his current role as president of the Cambridge, MA, company, a position he has held since 2016. Krueger joined AOBiome in 2015 as chief business officer. AOBiome is developing microbiome treatments for local and systemic inflammatory conditions.
Wisconsin VC Total Down in 2017, But New Funds Seek to Reverse Trend
Startups in Wisconsin raised about $116 million in funding last year, a total that represents a steep drop compared to recent years. The figures come from PitchBook and the National Venture Capital Association, two groups that monitor investment activity nationwide. According to their data, the state’s funding totals in 2016 and 2015 were $223 million … Continue reading “Wisconsin VC Total Down in 2017, But New Funds Seek to Reverse Trend”
As VC Moves Downstream, Spearhead Seeds New Angel Investors
The U.S. venture capital industry just capped off one of its biggest years ever. But look closer, and the current funding environment could spell trouble for the next wave of high-tech startups. The $84.2 billion invested in 2017 is a level of VC funding unseen since the dot-com era of the early 2000s, according to … Continue reading “As VC Moves Downstream, Spearhead Seeds New Angel Investors”
Robot, Hand Me a Scalpel! Diligent Robotics Adds $2.1M to Aid Nurses
Austin—Diligent Robotics is developing what it says is a new type of interactive robot that uses machine-learning algorithms to aid hospital workers with some of their busywork. The Austin, TX-based company, which was co-founded in 2016 by a University of Texas at Austin researcher and her industry-veteran graduate assistant, announced today it has raised $2.1 … Continue reading “Robot, Hand Me a Scalpel! Diligent Robotics Adds $2.1M to Aid Nurses”
Eye Drug Delivery Firm Eyenovia Sets IPO Range as Plans Come Into Focus
Eyenovia, a startup that has adapted an inkjet printing technique into a way to deliver drugs to the eye, is providing more clarity on an initial public offering intended to finance late-stage clinical testing of its technology. New York-based Eyenovia plans to offer 2.73 million shares priced between $10 and $12 each, according to an … Continue reading “Eye Drug Delivery Firm Eyenovia Sets IPO Range as Plans Come Into Focus”
Win Free Tickets to Xconomy’s First Tech Event in the Alamo City!
San Antonio Tech: Seizing the Momentum takes place at Pearl Stable on Tuesday, Feb. 20. Thanks to our generous supporters in the community, we’re excited to announce we have a block of complimentary tickets for local entrepreneurs and innovators. All you have to do is e-mail [email protected] with the following: — Name, title, company — … Continue reading “Win Free Tickets to Xconomy’s First Tech Event in the Alamo City!”
Boston 2017 VC Total Highest in Over a Decade; Here Are Top 5 Deals
Venture capital investments soared in the Boston area last year, as vast sums of money continue to flow to a relatively small pool of companies. Venture investors poured $8.7 billion into Boston-area companies in 2017, a nearly 40 percent jump from the $6.3 billion in venture capital invested locally during the previous year, according to … Continue reading “Boston 2017 VC Total Highest in Over a Decade; Here Are Top 5 Deals”
Blockchain and Cryptocurrencies: ScaleVP Comments From the Sidelines
Just because an investor isn’t putting money into blockchain technologies or cryptocurrencies yet, it doesn’t mean they’re not watching these emerging phenomena with interest. Andy Vitus, a partner at Silicon Valley venture capital firm Scale Venture Partners, has been keeping his eye on the potential uses of the blockchain, which is best known as the … Continue reading “Blockchain and Cryptocurrencies: ScaleVP Comments From the Sidelines”
SD Venture Funding Tops $1.9B in 2017; and Q4 Top 10 Deals
Venture capital activity ended the year with a strong finish in San Diego, as investors poured $498.4 million into 61 companies during the last three months of 2017, according to Venture Monitor data released Tuesday. The strength of fourth-quarter deals, lifted by a $125 million financing in November for the molecular diagnostics company Progenity, brought … Continue reading “SD Venture Funding Tops $1.9B in 2017; and Q4 Top 10 Deals”
Ag Startup Inocucor Adds $9.5M for Microbes that Improve Yields, Soil
A growing number of agtech startups are researching biological products that work with the community of microorganisms in and around plants. Denver-based Inocucor has developed microbes intended to improve plant and soil health and it now has $9.5 million in additional financing to support its efforts to bring these products to crops. The latest investment … Continue reading “Ag Startup Inocucor Adds $9.5M for Microbes that Improve Yields, Soil”
Dentsu Aegis Buys HelloWorld, formerly ePrize, for an Undisclosed Sum
When we first visited the headquarters of HelloWorld in 2012, the company was still called ePrize and was swiftly outgrowing its Pleasant Ridge, MI, digs. After several years of exponential growth, HelloWorld announced last week that it has been acquired by Dentsu Aegis Network, based in the U.K. The financial terms of the deal were … Continue reading “Dentsu Aegis Buys HelloWorld, formerly ePrize, for an Undisclosed Sum”
After Boom Years, Starburst and Podium May Signal Big Data’s Future
It seems like ancient history now, but “big data” was once a hot field with startups, investors, and big companies all buzzing with hype. Then the tech industry moved on, and marketers crowned data science and machine learning the Next Big Things (at least until blockchain takes over). Of course, big data never really went … Continue reading “After Boom Years, Starburst and Podium May Signal Big Data’s Future”
Allergan’s David Melnick Joins Spero Tx as Chief Medical Officer
David Melnick has joined Spero Therapeutics (NASDAQ: [[ticker:SPRO]]) to become the Cambridge, MA, company’s chief medical officer. Melnick served as vice president of clinical development for anti-infectives at Allergan (NYSE: [[ticker:AGN]]) since 2015. Spero has two clinical-stage antibiotics that the company hopes can help address the growing problem of drug-resistant bacteria.
PellePharm Appoints Sanuj Ravindran to CEO Post
PellePharm has appointed Sanuj Ravindran CEO of the Menlo Park, CA, company. Ravindran comes to PellePharm from San Diego-based aTyr Pharma (NASDAQ: [[ticker:LIFE]]), where he was chief business officer. Before working at aTyr, Ravindran was senior vice president of corporate development for The Medicines Company (NASDAQ: [[ticker:MDCO]]). PellePharm develops drugs to treat rare skin disorders. … Continue reading “PellePharm Appoints Sanuj Ravindran to CEO Post”
Skyword Bags $25M From Rho to Grow Content Marketing Business
Marketers are being forced to get more creative in their fight for consumers’ attention online, as people ignore advertisements or avoid many of them altogether with pop-up ad blockers. That has spurred an increased emphasis on marketing articles, videos, and other content aimed at attracting eyeballs. Skyword is one of the companies trying to aid … Continue reading “Skyword Bags $25M From Rho to Grow Content Marketing Business”
Beyond the Demo: 2018 Could Be Year for Longer, Profitable VR Content
René Pinnell says he and his wife Selena Pinnell were “blown away” by the virtual reality projects their friends were creating in 2014, so they looked for an entrepreneurial niche that would allow them to support such artists. That year the couple, both trained in design, founded a startup in San Francisco, then called KaleidoscopeVR. … Continue reading “Beyond the Demo: 2018 Could Be Year for Longer, Profitable VR Content”
Pixo VR Aims to Virtually Train People Who Work in Dangerous Jobs
Imagine that you’ve just gotten hired for a job building skyscrapers. Would you rather complete your job training out on a narrow precipice hundreds of feet in the air, or in a virtual reality simulation of that work environment, where your feet could remain firmly planted on terra firma while you learn the tricks of … Continue reading “Pixo VR Aims to Virtually Train People Who Work in Dangerous Jobs”
Seattle Area Had a Middling 2017 for Venture Investment, Fundraising
The $1.73 billion in venture capital raised by Seattle-area companies in 2017 was the third-highest total of the last five years, according to the Venture Monitor report out Tuesday from PitchBook and the National Venture Capital Association. The 2017 investment total for the Seattle-Tacoma-Bellevue area was spread across 297 deals. The total for the year … Continue reading “Seattle Area Had a Middling 2017 for Venture Investment, Fundraising”
Venture Activity Comes to (Unicorn) Point in 2017, and Top 10 Deals
[Updated 1/10/18 1:30 pm. See below.] In China, 2017 was the year of the rooster. But in the United States, it was the year of the unicorn—at least according to the Venture Monitor report released today by Seattle-based PitchBook and the National Venture Capital Association. A record number of unicorn financings—venture-backed companies valued at $1 … Continue reading “Venture Activity Comes to (Unicorn) Point in 2017, and Top 10 Deals”
Cellectar Biosciences Shutting Down Manufacturing Operations
Cellectar Biosciences has begun shutting down manufacturing operations at its headquarters and its plan going forward will be to have one of the company’s existing partners handle finished product manufacturing, Cellectar CEO Jim Caruso said Monday. Madison, WI-based Cellectar (NASDAQ: [[ticker:CLRB]]) is developing drugs with the potential to treat malignant tumors and certain forms of … Continue reading “Cellectar Biosciences Shutting Down Manufacturing Operations”
Exact Looks to Sales Force, Ads to Boost Cancer Test Sales in 2018
Exact Sciences plans to expand its sales force by 200 employees, ramp up its digital and social media marketing campaigns, and introduce a new “national celebrity spokesperson” this year, as the company seeks to increase sales of its flagship product, a stool-based DNA test for colorectal cancer. Madison, WI-based Exact (NASDAQ: [[ticker:EXAS]]) detailed some of … Continue reading “Exact Looks to Sales Force, Ads to Boost Cancer Test Sales in 2018”
Free IT Training Launch
Uplift Inc. is looking for 5,000 Detroit residents to attend this and other free Cisco Networking Academy classes offered in 2018. The course is available online anytime; those needing assistance with their assignments can find it at the Experiential Learning labs in seven Detroit Public Library locations. The Cisco classes help residents learn more about … Continue reading “Free IT Training Launch”
Axovant Neuro Drug Stumbles and Falls in Phase 2, Shares Drop 50%
A drug intended to treat a form of dementia has failed in a pair of mid-stage clinical studies, and the company that developed it, Axovant, now says it will stop work on the compound altogether. Axovant (NASDAQ: [[ticker:AXON]]) was testing its drug intepirdine as a treatment for dementia with Lewy bodies (DLB), a progressive brain … Continue reading “Axovant Neuro Drug Stumbles and Falls in Phase 2, Shares Drop 50%”
Facebook, Google, and Huawei Fund New AR, VR “Reality Lab” at UW
The University of Washington will host a new computer science laboratory focused on virtual and augmented reality technologies, having attracted $6 million for the effort from Facebook, Huawei, and Google. For Facebook and Huawei, the Chinese devices and telecom giant, the $2 million each will contribute represents the largest single gift they’ve made to the … Continue reading “Facebook, Google, and Huawei Fund New AR, VR “Reality Lab” at UW”