The past year was a turbulent one for the tech industry. There was a new controversy seemingly every week, whether it was Uber’s myriad scandals; more personal data breaches; Russia’s use of social media and other online platforms to try and influence U.S. voters; growing concerns over tech giants’ power; and a series of sexual … Continue reading “Flipside Crypto’s Balter Talks Uber, #MeToo, Cryptocurrencies”
Cybersecurity Expert Ash Mozano on the Tech Backlash of 2017
There may be nothing more subjective than trying to gauge public attitudes about technology. Yet a series of highly publicized events in 2017—from the massive exposure of personal data in the Equifax breach to the use of Twitter and Facebook to manipulate voters in the U.S. Presidential election—has prompted some to question the utopian promise … Continue reading “Cybersecurity Expert Ash Mozano on the Tech Backlash of 2017”
Can AI Startups Compete with Tech Giants?
If you happen to be a world-famous futurist, inventor, and entrepreneur, what would compel you to take a corporate job? That was one of the questions that I discussed with Ray Kurzweil recently at Synergy Global Forum in New York. Kurzweil was among a large group of luminaries who shared their ideas on innovation and … Continue reading “Can AI Startups Compete with Tech Giants?”
Ocular Therapeutix Hit by Subpoena, SEC Seeks Eye Pain Drug Documents
Federal securities regulators are asking questions about an Ocular Therapeutix eye pain product that was rejected by the FDA in July. Ocular (NASDAQ: [[ticker:OCUL]]) received a subpoena from the Securities and Exchange Commission dated Dec. 15, the Bedford, MA, company said Friday after the markets closed. The subpoena seeks documents and information regarding the company’s … Continue reading “Ocular Therapeutix Hit by Subpoena, SEC Seeks Eye Pain Drug Documents”
Flexion Therapeutics Promotes Scott Kelley to Chief Medical Officer
Scott Kelley has been appointed chief medical officer of Flexion Therapeutics (NASDAQ: [[ticker:FLXN]]). Kelley was previously vice president of medical affairs for the Burlington, MA, drug developer. He succeeds Yamo Deniz, who has left the company. Before joining Flexion in 2016, Kelley was vice president of global medical affairs at Sanofi (NYSE: [[ticker:SNY]]). Flexion develops … Continue reading “Flexion Therapeutics Promotes Scott Kelley to Chief Medical Officer”
Achaogen’s Blake Wise to Succeed Kenneth Hillan as CEO
Blake Wise is set to become CEO of Achaogen (NASDAQ: [[ticker:AKAO]]). Wise, who is currently president and chief operating officer of the South San Francisco, CA, drug developer, will start his new role on Jan. 1. He will succeed Kenneth Hillan, who will move into the newly created position of president, R&D, in addition to … Continue reading “Achaogen’s Blake Wise to Succeed Kenneth Hillan as CEO”
Maker of Blink Internet-Enabled Security Cameras Sold to Amazon
Immedia Semiconductor, a Boston area company that makes the Blink line of Internet-connected home security cameras, has been acquired by Amazon (NASDAQ: [[ticker:AMZN]]), according to a post on the Blink website and a report in the Boston Globe. In its post, Blink told its customers “if you own one of our systems, nothing changes for now.” … Continue reading “Maker of Blink Internet-Enabled Security Cameras Sold to Amazon”
Roche Bets $1.7B More on Precision Oncology With Ignyta Deal
In a buyout that marks the latest endorsement for targeted cancer drugs—and, potentially, the increasing utility of broad cancer DNA tests—Roche this morning agreed to acquire San Diego biotech Ignyta in an all-cash deal valued at $1.7 billion. Roche will pay $27 per share for Ignyta (NASDAQ: [[ticker:RXDX]]), a whopping 74 percent premium to the … Continue reading “Roche Bets $1.7B More on Precision Oncology With Ignyta Deal”
Bio Roundup: Tax Cuts, Drug Approval Record, New Flagship Cash & More
[Updated 12/22/17, 2:37 p.m. See below.] This year is wrapping up as one of the strongest on record for FDA drug approvals. As of this morning, the regulator has approved 46 novel drugs in 2017—a total that beats the mark set two years ago. With one week left in the year, the FDA could add … Continue reading “Bio Roundup: Tax Cuts, Drug Approval Record, New Flagship Cash & More”
Boston Tech Watch: iRobot, Jibo, Ogin, WiTricity, Spyce, Cayan
With the holidays upon us, it’s time to take a quick look at some of the year’s final headlines from the Boston-area tech scene: —Cayan, a Boston-based payments technology company, agreed to be acquired by Columbus, GA-based TSYS (NYSE: [[ticker:TSS]]) in a $1.05 billion all-cash deal. Cayan is currently owned by Parthenon Capital Partners. —Jibo, … Continue reading “Boston Tech Watch: iRobot, Jibo, Ogin, WiTricity, Spyce, Cayan”
EnsoData, Pyxsee, Epic, & More: This Week’s Wisconsin Watchlist
As you get set to head into the final week of 2017, take a few minutes to catch up on news from Wisconsin’s innovation community with these recent headlines: —EnsoData, a Madison-based startup developing software to help clinicians analyze sleep data and diagnose patients with sleep apnea and other disorders, raised nearly $1 million in … Continue reading “EnsoData, Pyxsee, Epic, & More: This Week’s Wisconsin Watchlist”
Oregon Tech Employers Look to Apprenticeships to Build Local Skills
Like tech employers everywhere, Sabrina Parsons is scrambling to find employees from all walks of life who have the skills her company needs, in this case to build online software tools for small businesses. Her company, Palo Alto Software, is based in Eugene, OR, a small city about 100 miles south of Portland. The southern … Continue reading “Oregon Tech Employers Look to Apprenticeships to Build Local Skills”
Biogen, Eisai Alzheimer’s Drug Fails First Test But Study Continues
The lead drug in a wide-ranging Alzheimer’s disease collaboration between Biogen and Eisai has flunked its first test, falling short of its main goal in a mid-stage clinical trial. Biogen (NASDAQ: [[ticker:BIIB]]) and Eisai said Thursday an independent interim analysis at 12 months found that the drug BAN2401 failed to show enough of a change … Continue reading “Biogen, Eisai Alzheimer’s Drug Fails First Test But Study Continues”
Xconomy Award Winner Vicki Sato on How to Build Biotech in New York
Vicki Sato has had a long career helping to lead major biotech businesses in Boston and then teaching Harvard Business School students how to create and grow high-tech companies. So it’s no surprise that when New York City Mayor Bill de Blasio wanted to figure out how replicate Boston’s success in biotech in his city, … Continue reading “Xconomy Award Winner Vicki Sato on How to Build Biotech in New York”
Napa Summit 2018
Napa Summit 2018 makes the seventh convening of an intimate and interdisciplinary gathering where far-seeing technologists and exemplary business leaders and investors come together to explore what’s over the horizon. Together we’ll discuss insights, challenges, and proposed solutions to big issues spanning global markets and the economy, and fields such as venture capital, virtual reality, … Continue reading “Napa Summit 2018”
Making the Middle Matter
Call it the problem of the middle—the middle states and the middle class—two groups that have struggled with problems that, while they are inexorably linked, are different all the same. Historically, most of the venture capital in America has been active on the coasts, leaving a vast portion of the country without seed money for … Continue reading “Making the Middle Matter”
Fintech in 2018: Blockchain Apps, A.I. Interfaces, Crypto Rules
For the financial technology sector, the year’s headlines were dominated by breathless blockchain hype, cryptocurrency bubble talk, and a never-ending barrage of initial coin offerings. To help put things in perspective—and get a read on what might come next in fintech—Xconomy caught up with David Jegen (pictured), a Boston-based partner with F-Prime Capital, who invests … Continue reading “Fintech in 2018: Blockchain Apps, A.I. Interfaces, Crypto Rules”
Goods Unite Us Develops App to Shed Light on Money in Politics
Less than two weeks after last November’s presidential election, Penzeys Spices CEO Bill Penzey Jr. wrote a public Facebook (NASDAQ: [[ticker:FB]]) post excoriating Donald Trump and voters who supported him. “You just voted for an openly racist candidate for the presidency of the United States of America,” Penzey wrote in the post. Some left-leaning voters … Continue reading “Goods Unite Us Develops App to Shed Light on Money in Politics”
CRISPR Could Soon Charge into Hearing Loss Drug Race, New Study Suggests
Nearly 40 million Americans say they have trouble hearing for one reason or another. There are no drug treatments, just hearing aids and cochlear implants, but biotech companies such as Frequency Therapeutics and Decibel Therapeutics believe they now have the means to make noise in this largely untapped market. The race to drug the ears, … Continue reading “CRISPR Could Soon Charge into Hearing Loss Drug Race, New Study Suggests”
Stop Being an “Initiative”: Highlights From NY Biotech—The Future Is Now
Vicki Sato, a longtime Boston biotech entrepreneur, laid out a challenge for New York life sciences in 2018. “Stop being an initiative,” she said. “Start being a player.” Sato, addressing the throng of attendees at Xconomy’s “New York Biotech: The Future Is Now” conference last week, has skin in the game. She’s now co-chairing an … Continue reading “Stop Being an “Initiative”: Highlights From NY Biotech—The Future Is Now”
Flagship Bags $618M, Its Largest Raise Ever, For a New Startup Crop
More money continues to flow into the creation of new biotechs. Flagship Pioneering, one of the life science industry’s major early stage venture investors, announced today that it has raised $618 million, the largest influx of money to the coffers of the Cambridge, MA-based firm since its founding in 2000. It says it now has … Continue reading “Flagship Bags $618M, Its Largest Raise Ever, For a New Startup Crop”
GV Tops Off $74.5M Haul for Paper Digitization Startup Ripcord
The co-founders of Hayward, CA-based startup Ripcord got together in 2015 to solve a mundane problem that plagues every office: big piles of paper records. To do that, they had to make use of the complete array of high-end tools in the advanced technology arsenal, from robotics and AI to computer vision and language processing. … Continue reading “GV Tops Off $74.5M Haul for Paper Digitization Startup Ripcord”
American Center for Mobility Officially Opens, Announces 2018 Plans
There were times when American Center for Mobility (ACM) CEO John Maddox wasn’t sure it would happen on time, but last week, the first phase of the Ypsilanti Township, MI-based test bed officially opened on schedule after more than a year of construction. Two ACM members, Visteon and Toyota, also announced they would begin autonomous … Continue reading “American Center for Mobility Officially Opens, Announces 2018 Plans”
Social Media Cyber Threats: 3 Predictions for 2018
1. Ransomware: Social media will be the number one vehicle for ransomware distribution in 2018. Currently, there are nearly 1 million social media accounts compromised every day, and that number will continue to rise, thanks to the plethora of easily identifiable targets. And with new channels comes new costs: the average cost of a ransomware ticket will go up … Continue reading “Social Media Cyber Threats: 3 Predictions for 2018”
Zimmer Biomet Hires Medtronic Exec Bryan Hanson for CEO Role
After a five-month search, Zimmer Biomet announced that medical device industry veteran Bryan Hanson is now the company’s top executive. Warsaw, IN-based Zimmer Biomet (NYSE: [[ticker:ZBH]]) said Hanson’s appointment was effective Tuesday. He replaces interim CEO Daniel Florin, who will resume his duties as senior vice president and CFO. Zimmer Biomet sells musculoskeletal medical devices … Continue reading “Zimmer Biomet Hires Medtronic Exec Bryan Hanson for CEO Role”
FDA OKs Spark’s Gene Therapy for Rare Blindness, But No Price in Sight
The FDA has approved a landmark gene therapy for vision loss—the first ever to fix a faulty gene within a patient’s body—but the therapy’s owner isn’t yet saying how much the drug will cost. The approval goes to Philadelphia-based Spark Therapeutics (NASDAQ: [[ticker:ONCE]]) for voretigene neparvovec (Luxturna) to treat patients who have inherited a mutation … Continue reading “FDA OKs Spark’s Gene Therapy for Rare Blindness, But No Price in Sight”
Net Neutrality Repeal Means The Battle Is Just Beginning
From businesses and consumers to politicians and tech industry leaders, the furor over last week’s Federal Communications Commission (FCC) decision to repeal net neutrality can be felt across America. People everywhere are stepping up to show their support for a free and open Internet. In my view, the battle to preserve net neutrality is still … Continue reading “Net Neutrality Repeal Means The Battle Is Just Beginning”
Retailers’ Holiday Wishlist? More Sales Powered By New Technologies
From products designed by artificial intelligence to virtual reality systems that help shoppers picture merchandise in their homes, retailers are deploying technology like never before this holiday season, betting that they can win business back from the default of online shopping. These innovations run the gamut, including sensors and cameras that can monitor in-store movements, … Continue reading “Retailers’ Holiday Wishlist? More Sales Powered By New Technologies”
Two Months Ahead of Schedule, FDA Clears Aerie Glaucoma Drug
The FDA has just approved a new medicine for glaucoma, a leading cause of blindness that affects close to 3 million Americans. Now the question is how eye doctors will use the drug, a treatment from Aerie Pharmaceuticals known as netarsudil (Rhopressa), and whether payers will cover the treatment. In a statement late Monday, Aerie … Continue reading “Two Months Ahead of Schedule, FDA Clears Aerie Glaucoma Drug”
Andreessen Horowitz Backs Asimov’s Synthetic Biology CAD Software
Synthetic biology continues to capture the attention of technology investors. Last week, it was Boston-based Ginkgo Bioworks announcing a $275 million Series D funding round backed by the likes of Y Combinator and Bill Gates’s private investment vehicle, Cascade Investment. This week, it’s Asimov, another Boston-area synthetic bio startup, raising money. The amount—$4.7 million in … Continue reading “Andreessen Horowitz Backs Asimov’s Synthetic Biology CAD Software”
Financing Boosts for Silicon Valley AI Companies Maana, Digital Genius
Two Bay Area AI startups announced merry company news for the holiday season on Tuesday. Palo Alto, CA-based Maana, which bills itself as a productivity booster for big industrial companies such as Shell, Chevron, Saudi Aramco, and Airbus, says it has raised $28 million in a Series C fundraising round led by investment bank China … Continue reading “Financing Boosts for Silicon Valley AI Companies Maana, Digital Genius”
San Diego Life Sciences 2022: Photos and Takeaways
Making predictions can be a tricky business. Nevertheless, Xconomy recently brought together some of San Diego’s most prominent life sciences leaders to offer their vision for what the regional biotech cluster will be like in five years. They broadly agreed that San Diego has proven itself as a great seedbed for life sciences startups. The … Continue reading “San Diego Life Sciences 2022: Photos and Takeaways”
Intellia Switches CEOs as EVP Leonard Steps in for Bermingham
Intellia Therapeutics (NASDAQ: [[ticker:NTLA]]) said that John Leonard, currently the company’s executive vice president of research and development, will become its president and CEO, effective Jan. 1. Leonard will step in for founding CEO Nessan Bermingham, who is returning to the venture capital industry, according to a prepared statement. Prior to running Intellia, Bermingham had … Continue reading “Intellia Switches CEOs as EVP Leonard Steps in for Bermingham”
New Cybersecurity Nonprofit SAMSOC Aims to Draw Business to San Antonio
San Antonio—Small and large businesses alike are facing an increasingly risky cyber world, from the WannaCry ransomware attacks to the large-scale data thefts that hit Sony, Target, and many others in recent years. Three San Antonio executives are developing a nonprofit they hope will help bring some of that work to the growing number of … Continue reading “New Cybersecurity Nonprofit SAMSOC Aims to Draw Business to San Antonio”
After gBETA, UW Professor’s Latest Startup Aims to Ride Chatbot Wave
Virtual assistants have come a long way in the two decades since Microsoft (NASDAQ: [[ticker:MSFT]]) introduced Clippit, an animated paper clip that suggested tips and shortcuts to users as they worked in Word, Excel, and other Microsoft Office applications. The bot, commonly known as “Clippy,” drew endless ire and mockery—even from Microsoft—before the company retired … Continue reading “After gBETA, UW Professor’s Latest Startup Aims to Ride Chatbot Wave”
Startup Lessons: Lexumo CEO on Why the Cybersecurity Firm Shut Down
Building a successful startup is hard. Pulling the plug when you think the company won’t make it can be hard, too. Xconomy recently reported that Lexumo, a Boston-area cybersecurity startup that spun out of Draper Laboratory, called it quits in September. The two-year-old company had raised at least $4.9 million in venture funding from Accomplice, … Continue reading “Startup Lessons: Lexumo CEO on Why the Cybersecurity Firm Shut Down”
New DIY Kit from Backyard Brains Tests Plant Behavior, Communication
Back in the 1970s, a nonfiction book called “The Secret Life of Plants” took the world by storm. Both my mother and grandmother owned a copy, and being a child with a voracious appetite for books, I took a peek inside. The book described the emotional and spiritual inner life of plants and recommended ways … Continue reading “New DIY Kit from Backyard Brains Tests Plant Behavior, Communication”
Aura Biosciences Taps Cadmus Rich for Chief Medical Officer Post
Cadmus Rich has joined Aura Biosciences to become the Cambridge, MA, company’s chief medical officer. Rich most recently worked at Inotek Pharmaceuticals (NASDAQ: [[ticker:ITEK]]) in Lexington, MA, where he was vice president, medical affairs and clinical development. Aura’s lead drug, AU-11, is in early-stage clinical testing for ocular melanoma, a rare eye cancer.
AstraZeneca’s Anthony Johnson Named CEO of Goldfinch Bio
Goldfinch Bio has appointed Anthony Johnson president and CEO. Johnson joins Cambridge, MA-based Goldfinch from AstraZeneca (NYSE: [[ticker:AZN]]), where he was head of early clinical development for the company’s Innovative Medicine and Early Development Biotech Unit. Last year, Goldfinch raised $55 million in a Series A round of financing to develop new kidney disease treatments … Continue reading “AstraZeneca’s Anthony Johnson Named CEO of Goldfinch Bio”
3 A.I. Predictions for 2018: Emotion, Data, Ethics
1. Emotion A.I. will increase our humanity and empathy for each other. In recent years, the smartphones, bots, and devices we spend so much of our time with could be accused of contributing to the desensitization of our society. When a fight breaks out, some teens’ first reaction is to pull out their phones and take … Continue reading “3 A.I. Predictions for 2018: Emotion, Data, Ethics”
Casa Systems Raises $78M in Boston Area’s Second Tech IPO of 2017
The Boston area’s second tech IPO of 2017 is in the books. Casa Systems raised $78 million in its initial public offering by selling 6 million shares of common stock for $13 per share. The Andover, MA-based network infrastructure company has granted its IPO underwriters a 30-day option to buy up to 900,000 additional shares … Continue reading “Casa Systems Raises $78M in Boston Area’s Second Tech IPO of 2017”
Jnana Therapeutics Emerges with $50M to Find Cellular Protein Drugs
Drug discovery startup Jnana Therapeutics has come out of stealth mode with $50 million in funding that it plans to use to search for new drugs that target proteins that move substances across cellular membranes. The Boston company says drugs that focus on this family of proteins, called solute carrier (SLC) transporters, could address a … Continue reading “Jnana Therapeutics Emerges with $50M to Find Cellular Protein Drugs”
In Week of Hemophilia News, Alnylam Drug Cleared to Move Forward
The FDA has cleared Alnylam Pharmaceuticals to resume testing of an experimental hemophilia drug after instituting a variety of measures meant to manage the possible risks of taking the therapy, known as fitusiran. Cambridge, MA-based Alnylam (NASDAQ: [[ticker:ALNY]]) can restart the Phase 3 study and Phase 2 open-label extension trials of fitusiran, a drug being … Continue reading “In Week of Hemophilia News, Alnylam Drug Cleared to Move Forward”
Bio Roundup: Tax Cuts, a Funding Rush, Hemophilia Questions & More
In the penultimate week before the end-of-year recess, Congress raced to provide the drug industry—and the rest of corporate America—a massive tax cut, with breaks for investors, too. Racing to finish their own end-of-year budgets, perhaps, investors poured hundreds of millions into private biotechs, too. If that doesn’t get your blood racing, then how about … Continue reading “Bio Roundup: Tax Cuts, a Funding Rush, Hemophilia Questions & More”
Boston Tech Watch: Iron Mountain, Hitachi, Circle, Locus & More
Here are some of the latest headlines from the Boston-area tech scene: —Locus Robotics, which announced a $25 million Series B funding round in November, appears to have raised an additional $9.2 million, according to an SEC filing. The Wilmington, MA-based startup makes robots and software for order fulfillment warehouses. —SolidEnergy Systems, a Woburn, MA-based … Continue reading “Boston Tech Watch: Iron Mountain, Hitachi, Circle, Locus & More”
American Family Buys Chicago Firm to Expand Analytics, A.I. Use
In recent years, American Family Insurance has spent significant amounts of money and time developing new technologies it believes could improve customers’ lives, as well as the Madison, WI, company’s bottom line. These investments have been both internal—for example, ramping up the use of data analytics and artificial intelligence to assess risk and price policies—and … Continue reading “American Family Buys Chicago Firm to Expand Analytics, A.I. Use”
Chasing Amazon: Target Buys Shipt, Techstars Teams Up With Rakuten
Corporate America’s acquisition game in online retail and e-commerce is continuing, this time with Target buying Birmingham, AL-based startup Shipt for $550 million. The deal may not make the same sweeping waves as Amazon’s $13.7 billion acquisition of Austin, TX-based Whole Foods, but Shipt appears to have been waiting for a suitor since Seattle-based Amazon … Continue reading “Chasing Amazon: Target Buys Shipt, Techstars Teams Up With Rakuten”
D2P Shifts Focus, as Fund for Investing in UW Entrepreneurs Dries Up
[Updated 12/15/17 2:51 p.m. See below.] Since its launch four years ago, a University of Wisconsin-Madison program has been working with students, faculty, and staff at the school to turn their ideas into startup companies. But now the program, known as Discovery to Product (D2P) has nearly exhausted the $2.4 million “Igniter” fund D2P has … Continue reading “D2P Shifts Focus, as Fund for Investing in UW Entrepreneurs Dries Up”
Angel Investor Network in San Antonio Renames Itself Alamo Angels
San Antonio—Alamo Angels: It’s the new name of the San Antonio Angel Network, the group that started last year in its namesake city last year to invest in technology and life science startups. The group, which now has 106 members, formed in San Antonio after many people had talked about starting a network but didn’t … Continue reading “Angel Investor Network in San Antonio Renames Itself Alamo Angels”
Roche’s Jennifer Cook Appointed CEO of Grail
Grail has appointed Jennifer Cook to serve as CEO of the cancer screening company. Cook comes to Menlo Park, CA-based Grail from Roche, where she is head of clinical operations in product development for the company’s pharmaceuticals division. She will start at Grail on Jan. 2, and will also gain a seat on the company’s … Continue reading “Roche’s Jennifer Cook Appointed CEO of Grail”