Tenaya Therapeutics has appointed Tim Hoey chief scientific officer of the South San Francisco, CA, biotech. Before joining Tenaya, Hoey was senior vice president of cancer biology and co-chief scientific officer of Redwood City, CA-based OncoMed (NASDAQ: [[ticker:OMED]]). Tenaya spun out of the Gladstone Institutes last year backed by a $50 million Series A investment … Continue reading “OncoMed’s Tim Hoey Joins Tenaya Tx as Chief Scientific Officer”
Xenetic Bio’s Maguire is Out as CEO, Eisenberg Named Successor
Scott Maguire has stepped down as CEO of Xenetic Biosciences (NASDAQ: [[ticker:XBIO]]), and the Lexington, MA, company has named chief operating officer Jeffrey Eisenberg to be his successor. No reason for Maguire’s departure was given. In an SEC filing, the company says Maguire’s employment agreement was terminated on Nov. 3 and under terms of a … Continue reading “Xenetic Bio’s Maguire is Out as CEO, Eisenberg Named Successor”
Is Your Company Independent or Co-Dependent?
Steve Jobs was once famously quoted stating, “the secret of my success is that we have gone to exceptional lengths to hire the best people in the world.” Employees are a critical part of any company’s backbone, no matter the size or industry of the business. They are the driving force that executes the company … Continue reading “Is Your Company Independent or Co-Dependent?”
Broadcom-Qualcomm M&A: Layers of Complexity Cloud Biggest Tech Deal
One thing to bear in mind with today’s news that Broadcom Ltd. (NASDAQ: [[ticker:AVGO]]) has made an unsolicited offer of about $105 billion to acquire San Diego-based Qualcomm (NASDAQ: [[ticker:QCOM]]) is that this deal, if it happens, is going to take time. Aside from the complications involved with combining the global operations of two Fortune … Continue reading “Broadcom-Qualcomm M&A: Layers of Complexity Cloud Biggest Tech Deal”
With New Fund, Aurora Looks to Deepen Support for Health Startups
When Milwaukee-based Aurora Health Care announced plans invest $5 million in local startups over the next five years through its new InvestMKE fund, Aurora president and CEO Nick Turkal said the new fund will help the organization “deliver high-quality, cost-effective healthcare, ultimately helping people live well here at home.” What Turkal’s comments accompanying last week’s InvestMKE … Continue reading “With New Fund, Aurora Looks to Deepen Support for Health Startups”
$1B For Nothing? Valeant Sells Sex Drug to Sprout Backers for a Pittance
Two years after Sprout Pharmaceuticals sold itself, and its sex drive-boosting drug for women, to Valeant Pharmaceuticals in a $1 billion deal, the small company’s former owners are set to reacquire the drug for a fraction of the price. Valeant (NYSE: [[ticker:VRX]]) announced Monday an agreement to sell Sprout back to its some of its … Continue reading “$1B For Nothing? Valeant Sells Sex Drug to Sprout Backers for a Pittance”
Xconomy Newcomer Award Winner Amy Schulman on Boston Biotech Life
Amy Schulman is relatively new not just to Boston, but also to biotech. Before she moved to Boston in 2014 to join Polaris Partners, she was a partner at a major law firm and then worked at Pfizer in New York, where she served as general counsel and also headed up its huge consumer healthcare … Continue reading “Xconomy Newcomer Award Winner Amy Schulman on Boston Biotech Life”
AgTech Accelerator Brings Biopharma Models to Ag Investing Strategy
For many early-stage companies, raising money is the hard part. But after raising $10 million last spring, Boragen ran into another obstacle common to agtech startups: There are few greenhouses available for companies to run their tests. John Dombrosky, CEO of the Research Triangle Park, NC, company checked with universities and agricultural companies and found, … Continue reading “AgTech Accelerator Brings Biopharma Models to Ag Investing Strategy”
New Biotech Viscient Partners with Organovo on Fatty Liver Disease
It struck me as a little perplexing when Organovo (NASDAQ: [[ticker:ONVO]]) announced in April that CEO Keith Murphy was departing to pursue “entrepreneurial opportunities.” The San Diego company, founded a decade ago on 3D bio-printing technology developed by the University of Missouri’s Gabor Forgacs, appeared to be gaining momentum on multiple fronts. Organovo had built … Continue reading “New Biotech Viscient Partners with Organovo on Fatty Liver Disease”
Rockwell, Sift, Fund of Funds, & More: This Week’s WI Watchlist
Catch up on the latest news from Wisconsin’s innovation community with these recent headlines: —Milwaukee-based Rockwell Automation (NYSE: [[ticker:ROK]]) declined two takeover offers made by Emerson Electric (NYSE: [[ticker:EMR]]) in the past three months, including one in October that valued Rockwell at more than $27 billion, CNBC reported. Rockwell develops software and provides services for … Continue reading “Rockwell, Sift, Fund of Funds, & More: This Week’s WI Watchlist”
With $11M in New Funding, Mcity Looks Ahead to 2018 and Beyond
Mcity, the autonomous vehicle research center on the University of Michigan campus, announced this week that it has raised $11 million in new funding from 11 industry partners. (See list below.) These partners help Mcity identify opportunities as well as the challenges in bringing them to fruition, and weigh in on the direction of the … Continue reading “With $11M in New Funding, Mcity Looks Ahead to 2018 and Beyond”
Black Duck Aims to “Build a Powerful Company” Under Wing of Synopsys
Synopsys thinks it has found a beautiful swan in Black Duck Software. While the 14-year-old Boston-area company was by no means an “ugly duckling” before, it has transformed several times on the way to its half-billion-dollar sale to Synopsys—and it will likely continue to grow and change under its new parent company. Mountain View, CA-based … Continue reading “Black Duck Aims to “Build a Powerful Company” Under Wing of Synopsys”
Klotho Therapeutics Raises $10M to Test Drug in Kidney Disease
Klotho Therapeutics, a virtual biotech developing a kidney disease treatment based on its proprietary engineered version of the human klotho enzyme, said Thursday it has raised $10 million in Series A financing from San Diego’s Thynk Capital. Thynk Capital founder and principal Jim Plante also is Klotho’s founder and CEO. Plante is a technology industry … Continue reading “Klotho Therapeutics Raises $10M to Test Drug in Kidney Disease”
Austin Digerati “Awaken” To Opportunities in Civic Tech Innovation
Austin—Immigration and Customs Enforcement raids in Austin earlier this year were a wake-up call for Dan Webb. Webb is director of strategic partnerships at edtech startup Civitas Learning, and his wife is an immigrant who had just become a U.S. citizen in February. “We were getting calls from friends of ours asking, ‘If my wife … Continue reading “Austin Digerati “Awaken” To Opportunities in Civic Tech Innovation”
Indiana’s Open Data Hub Allows Public to Address State’s Challenges
Municipalities and state governments tend to generate reams of data pertaining to their residents. However, trying to peel back the layers of bureaucratic red tape to reveal something meaningful from government datasets has been a longstanding challenge throughout the country. Government IT departments are often hampered by outdated technology and cumbersome chains of command, but … Continue reading “Indiana’s Open Data Hub Allows Public to Address State’s Challenges”
Biotech Roundup: Opioid News, ASH Preview, Boston Bio IPOs & More
The rising death toll from opioids has prompted policymakers to try various ways to take on the problem. President Trump’s opioid commission released its final report this week, calling for expansion of drug courts, better physician training, and penalties for insurers that don’t cover treatment. But the commission did not say how much its recommendations … Continue reading “Biotech Roundup: Opioid News, ASH Preview, Boston Bio IPOs & More”
Congress Urges Tech Firms to Control Content—But With Qualms
At Congressional hearings this week on Russia’s use of social media to interfere with the 2016 U.S. election, lawmakers pressed Facebook, Twitter, and Google to take exhaustive measures to stop the same thing from happening again. Lawmakers urged the companies to scour their networks to root out foreign advertisers, trolls, and bots; to eliminate messages … Continue reading “Congress Urges Tech Firms to Control Content—But With Qualms”
Etzioni on A.I. Hype, Reality, Lifesaving Potential, and More
Oren Etzioni, CEO of the Allen Institute for Artificial Intelligence (AI2), still isn’t worried about nefarious A.I. taking over the world, but says there are real and growing concerns about its potential impacts on society and the economy. That said, he is an A.I. optimist and sees potentially lifesaving applications emerging in autonomous vehicles and … Continue reading “Etzioni on A.I. Hype, Reality, Lifesaving Potential, and More”
Black Duck Software to Be Acquired by Synopsys for $565M
Over the summer, Black Duck Software CEO Lou Shipley told Xconomy that a potential acquirer would have to propose a “really good deal” for his company to agree to a sale. Apparently, Black Duck got that offer. The Burlington, MA-based cybersecurity company announced Thursday it has agreed to be acquired by Mountain View, CA-based Synopsys … Continue reading “Black Duck Software to Be Acquired by Synopsys for $565M”
PathAI Grabs $11M to Build A.I. Tools for Pathology
Investors continue to pour millions of dollars into startups attempting to apply artificial intelligence technologies to various problems in healthcare. The latest beneficiary is PathAI, a Cambridge, MA-based company developing A.I. software aimed at helping pathologists be more efficient and accurate in diagnosing disease. PathAI co-founder and CEO Andy Beck tells Xconomy that his company … Continue reading “PathAI Grabs $11M to Build A.I. Tools for Pathology”
Optimus Ride Drives Off With $18M for Autonomous Vehicle Tech
[Updated 11/2/17, 10:01 am, with CEO comments.] Boston’s self-driving vehicle startups are on a roll. This morning, Optimus Ride said that investors have pumped $18 million into the company in a new funding round. The news follows the announcement last month that global auto parts supplier Delphi (NYSE: [[ticker:DLPH]]) agreed to purchase NuTonomy for up … Continue reading “Optimus Ride Drives Off With $18M for Autonomous Vehicle Tech”
UpCurve Buys Closely to Boost ThriveHive’s Marketing Tech Offerings
The trend of consolidation in the marketing technology sector continues: Quincy, MA-based UpCurve announced this morning it has acquired Closely, the Denver-based startup behind the social marketing mobile app, Perch. Terms weren’t disclosed. Eight-year-old Closely, led by MapQuest co-founder Perry Evans, previously raised at least $3.6 million from investors, according to SEC filings. UpCurve, formerly … Continue reading “UpCurve Buys Closely to Boost ThriveHive’s Marketing Tech Offerings”
Spero, Allena Nab $152M As Bio IPOs, With Insider Help, Continue Roll
Two biotechs, Spero Therapeutics and Allena Therapeutics, are headed for the Nasdaq this morning at valuations they’d been aiming for. Their stock offerings are the latest sign of the health of the biotech IPO market, and the willingness of insiders to make sure these deals succeed. Spero, of Cambridge, MA, raised $77 million late Wednesday … Continue reading “Spero, Allena Nab $152M As Bio IPOs, With Insider Help, Continue Roll”
Scangos Heats Up Xconomy’s What’s Hot in Bay Area Biotech Lineup
To biopharmaceutical companies, FDA approval of a new drug brings the opportunity to sell a product in the biggest pharmaceutical market in the world. But disease knows no borders, and many treatments launched in the U.S. market could also have global applications. George Scangos says he joined Vir Biotechnology to bring new infectious disease therapies … Continue reading “Scangos Heats Up Xconomy’s What’s Hot in Bay Area Biotech Lineup”
John Mendlein Passes Torch to New CEO at San Diego’s aTyr Pharma
San Diego-based aTyr Pharma (NASDAQ: [[ticker:LIFE]]) said John Mendlein is stepping down as president and CEO, effective today. According to a statement released after the market closed, Sanjay S. Shukla, who has served as aTyr’s chief medical officer since March 2016, is succeeding Mendlein, who plans to continue to serve on aTyr’s board as a … Continue reading “John Mendlein Passes Torch to New CEO at San Diego’s aTyr Pharma”
Pitchbook Report: SXSW Accelerator Investments, Exits Since 2007
Austin—The South by Southwest technology conference draws executives from countless companies worth billions of dollars to Austin every year and, with them, investors that want a piece of their equity. But the companies that often get the most attention are the ones that aren’t worth much at all—yet. One way SXSW attendees get to see … Continue reading “Pitchbook Report: SXSW Accelerator Investments, Exits Since 2007”
Few Opioid Alternatives In Sight as Crisis Gains Political Attention
As opioid-related deaths skyrocket across the U.S., momentum to combat the epidemic has been mounting in Washington. But the crisis has also highlighted a glaring problem that no amount of politics or policymaking will solve soon: The lack of non-addictive pain medicines. “What is disappointing over the last half-century is that we haven’t really created … Continue reading “Few Opioid Alternatives In Sight as Crisis Gains Political Attention”
Northwestern Mutual, Rockwell & Other Milwaukee Firms Fund gBETA
Advocates of entrepreneurship in the Milwaukee area have long argued that forging more connections between startups and old-line businesses headquartered there could lead to more people starting and building companies in the city. Lately, business leaders in greater Milwaukee have been taking steps to help the city realize that vision. The latest example is an … Continue reading “Northwestern Mutual, Rockwell & Other Milwaukee Firms Fund gBETA”
ASH Sneak Peeks: Novartis, Juno Update CAR-T Lymphoma Competition
[Corrected, 11/1/17, 5:20 p.m. ET. See below.] The annual American Society of Hematology meeting is next month. But previews of the big data presentations are out today, yielding more insight into what promises to be the first major competition in CAR-T cell therapy: Treatments for people with non-Hodgkin lymphoma (NHL) who have run out of … Continue reading “ASH Sneak Peeks: Novartis, Juno Update CAR-T Lymphoma Competition”
As Facebook Fights Fake News, LeCun Sees Bigger Role for A.I.
As top lawyers from Facebook, Google, and Twitter testify on Capitol Hill this week about Russians using their platforms to interfere in the 2016 U.S. presidential election, it’s becoming clearer that the fight against the spread of fake news won’t be won by humans alone. That’s according to Yann LeCun, a machine learning expert and … Continue reading “As Facebook Fights Fake News, LeCun Sees Bigger Role for A.I.”
WEDC, 3 Nonprofits to Invest $1M in Wisconsin-based Tech Startups
The Wisconsin Economic Development Corp. (WEDC) says it’s teaming up with three nonprofits on an initiative that will invest $1 million in early-stage technology businesses in Wisconsin. The goal is to provide grant funding and loans to startups headquartered in Wisconsin, and to help them advance products and services they’re developing beyond the proof-of-concept stage, … Continue reading “WEDC, 3 Nonprofits to Invest $1M in Wisconsin-based Tech Startups”
Pulmatrix Names James Roach Chief Medical Officer
James Roach has been appointed chief medical officer of Lexington, MA-based Pulmatrix (NASDAQ: [[ticker:PULM]]). Roach joins Pulmatrix from Southborough, MA-based Veristat, where he was chief medical officer. Pulmatrix develops inhaled drugs for serious lung diseases. Roach will start his new role on Nov. 3.
Melinta Therapeutics Appoints Dan Wechsler CEO
Melinta Therapeutics announced that Dan Wechsler will become the antibiotics developer’s new president and CEO after the New Haven, CT, company completes its merger with Chapel Hill, NC-based Cempra (NASDAQ: [[ticker:CEMP]]). The combined company will keep the Melinta name. Wechsler’s experience includes various roles at The Upjohn Company, Pharmacia, Pfizer (NYSE: [[ticker:PFE]]), Schering-Plough, Merck (NYSE: … Continue reading “Melinta Therapeutics Appoints Dan Wechsler CEO”
SailPoint & WatchGuard IPO, HX, Technium, ResMan, & More Texas News
Houston and the rest of the Texas Gulf Coast are largely back to business following Hurricane Harvey. Among the more notable news is Houston tech and civic leaders unveiling a new fund of funds aimed at better connecting the city’s large corporations and startups to venture capital across the country. —Houston Exponential is planned to … Continue reading “SailPoint & WatchGuard IPO, HX, Technium, ResMan, & More Texas News”
Ash & Erie Make a Splash on Shark Tank, Score Deal with Mark Cuban
As Venture for America prepares to host a demo day event in Detroit later this month, two entrepreneurs who met as part of the VFA program recently made a splash on Shark Tank, the ABC reality show that features young companies pitching celebrated investors for growth capital. We caught up with Steven Mazur, co-founder of … Continue reading “Ash & Erie Make a Splash on Shark Tank, Score Deal with Mark Cuban”
Techstars Sustainability Adds to Growth of Sponsored Accelerators
After Techstars opened its first program in Boulder, CO, in 2007, the startup accelerator program expanded into three cities over the next four years. But then the real growth started happening. In 2011, Techstars began launching accelerators that focused on startups innovating in a specific sector in partnership with big companies. It partnered with Nike … Continue reading “Techstars Sustainability Adds to Growth of Sponsored Accelerators”
Markforged Turns Profit, Grabs $30M From Siemens, Microsoft, Porsche
Now that the hype over 3D printing has died down, some of the industry’s surviving startups have figured out how to build healthy businesses. Four-year-old Markforged says it’s one of them. The Watertown, MA-based company—known for 3D printers that produce plastic parts strengthened by carbon fiber and other materials—says its revenues have increased significantly this … Continue reading “Markforged Turns Profit, Grabs $30M From Siemens, Microsoft, Porsche”
Sanofi Pulls Back from Voyager Gene Therapy Pact in Parkinson’s
A key study for Voyager Therapeutics and its experimental gene therapy for Parkinson’s disease will have to move ahead without help from pharmaceutical giant Sanofi, which has walked away from the deal. Global rights to Parkinson’s treatment VY-AADC01 are now squarely in the hands of Cambridge, MA-based Voyager (NASDAQ: [[ticker:VYGR]]). Two years ago, the company … Continue reading “Sanofi Pulls Back from Voyager Gene Therapy Pact in Parkinson’s”
Remitly Loads Up for Global Growth with $115M from PayU, Others
International money transfer business Remitly will add $115 million to its coffers through what would be the largest investment in a Seattle company in the last year. The investment—which requires Hart-Scott-Rodino approval due to its size, as well as sign-off from state regulators because Remitly is a licensed financial services provider—is expected to close by … Continue reading “Remitly Loads Up for Global Growth with $115M from PayU, Others”
Recorded Future Nabs $25M to Advance Cyber Threat Intelligence
Boston-area cybersecurity firm Recorded Future said Tuesday it has raised $25 million in Series E venture financing. The round was led by Insight Venture Partners, a new investor. The new money brings Recorded Future’s total venture haul to about $55 million, by my count. The Somerville, MA-based company’s previous investors include Google Ventures (GV), In-Q-Tel, … Continue reading “Recorded Future Nabs $25M to Advance Cyber Threat Intelligence”
New Survey Highlights “Lethargic Pace” of Healthcare Gender Equity
To close the healthcare and life sciences gender gap, there have been programs to move women into the boardroom. People are building mentoring networks. And there have been public pledges to do better. But women in the industry aren’t optimistic about big changes coming soon, according to a new report and survey from digital healthcare … Continue reading “New Survey Highlights “Lethargic Pace” of Healthcare Gender Equity”
Biohaven Brings Clifford Bechtold Aboard as Chief Operating Officer
Biohaven (NYSE: [[ticker:BHVN]]) has appointed Clifford Bechtold to serve as chief operating officer of the New Haven, CT, company. Bechtold most recently worked at Bristol-Myers Squibb (NYSE: [[ticker:BMY]]) as development team leader for genetically defined diseases. His work there encompassed programs in neuromuscular and neurodegenerative diseases. Biohaven is developing treatments for neurological diseases.
Brain Health Therapeutics Names Nick Poulios CEO
Nick Poulios has been named CEO of San Francisco-based Brain Health Therapeutics. Poulios was most recently head of medical outcomes, reimbursement, and economics at Roche Molecular Diagnostics. Brain Health is developing treatments for neurological disorders using new formulations and combinations of previously approved drugs.
Exact Sciences Plots Expansion Strategy as Cancer Test Sales Boom
Exact Sciences posted its fourth consecutive strong quarter—beating analysts’ and the company’s own projections of financial and business performance—and investors reacted favorably. Madison, WI-based Exact (NASDAQ: [[ticker:EXAS]]) develops diagnostic tests for several types of cancer. Its flagship product is Cologuard, a stool-based DNA test for colorectal cancer. Exact said it completed about 161,000 of the … Continue reading “Exact Sciences Plots Expansion Strategy as Cancer Test Sales Boom”
Last Chance to Save on “Healthcare + A.I. Northwest”
We are just a week away from “Healthcare + A.I. Northwest” —and we’re offering you a chance to save $80. Join us for an afternoon of keynote talks, fireside chats, and panel discussions that will delve into how artificial intelligence may transform healthcare. It all takes place the afternoon of Thursday, Nov. 9, at Cambia … Continue reading “Last Chance to Save on “Healthcare + A.I. Northwest””
Clinc’s A.I. Goes Global in Deal with Turkey’s Largest Private Bank
It has been a busy year for Clinc, the fintech startup based in Ann Arbor, MI. The company, which has developed a conversational artificial intelligence platform for financial institutions called Finie, has raised more than $6 million in a Series A round; embarked on a successful pilot project with USAA, the bank serving members of … Continue reading “Clinc’s A.I. Goes Global in Deal with Turkey’s Largest Private Bank”
Boston Tech Watch: Datto, Ultimaker, Brand Networks, Imprivata & More
[Corrected 11/8/17, 2:11 pm. See below.] This week in Boston tech, we’re tracking the latest private equity investments in tech startups; venture capital deals in cybersecurity, healthcare IT, and advanced materials production; and a pair of executive hires. Read on for details. —Datto, a Norwalk, CT-based provider of data protection and networking products, signed an … Continue reading “Boston Tech Watch: Datto, Ultimaker, Brand Networks, Imprivata & More”
As Russians Hacked U.S. Election, Did Big Tech Firms Break Any Laws?
News is constantly streaming out these days about the role of Facebook, Twitter, and Google in the 2016 presidential election; most disturbing to the public is the apparent use of social media, search, and video channels by Russian operatives seeking to influence U.S. voters. Critical lawmakers have blasted the big tech companies for failing to … Continue reading “As Russians Hacked U.S. Election, Did Big Tech Firms Break Any Laws?”
Investors Navigate Promise, Hype, in Funding A.I. for Healthcare
From a venture investment perspective, digital health is having a record year—one that has come as something of a surprise against the backdrop of federal policy uncertainty. But is investor interest extending into artificial intelligence applications for healthcare? That’s a topic we’ll explore at Xconomy’s Healthcare + A.I. Northwest event in Seattle on Nov. 9 … Continue reading “Investors Navigate Promise, Hype, in Funding A.I. for Healthcare”
Northwestern Mutual Launches $5M VC Fund to Support Local Startups
[Updated 10/31/17 11:01 a.m. See below.] Northwestern Mutual has in recent years begun supporting and working with more early-stage businesses, most notably through its 2015 acquisition of fintech startup LearnVest and creation of a $50 million venture capital fund. Now, the Milwaukee-based life insurance and financial services giant plans to inject $5 million into local startups … Continue reading “Northwestern Mutual Launches $5M VC Fund to Support Local Startups”