Thousands of diseases have been traced to genetic origins, but the vast majority have no treatment at all. BridgeBio wants to reduce that unmet need with an unusual model for developing drugs to treat rare genetic diseases, and it now has $135 million in new funding. Palo Alto, CA-based BridgeBio says new investor Viking Global … Continue reading “BridgeBio Bags $135M For “Hub and Spoke” Rare Disease Drug R&D”
San Antonio Tech and Bioscience Group Plans New Innovation Center
San Antonio — [Updated 2:44 p.m. See Below.] A new organization that aims to be a “superhub” for entrepreneurs and startups is being launched in San Antonio by the Texas Research & Technology Foundation, a bioscience and technology economic development group. Called VelocityTX, the group plans to provide capital, mentorship, access to manufacturing facilities, and other … Continue reading “San Antonio Tech and Bioscience Group Plans New Innovation Center”
Amazon Primed: Everything’s Bigger in Texas, and at Its Best in Dallas
The Dallas Cowboys. JR Ewing. Oil and Gas. These are all part of the history and legacy of Dallas, and perhaps many people’s first thought of our part of the world. The region has grown and diversified, but what has remained is its pioneering and entrepreneurial spirit. There are many reasons on paper why Texas … Continue reading “Amazon Primed: Everything’s Bigger in Texas, and at Its Best in Dallas”
Education Is Unbundling—Three Key Trends to Watch
Technology in the classroom has come a long way since its advent in the 1920s, when teachers would air radio broadcasts about topics relevant to their lesson plans. Ten years later, in the 1930s, the overhead projector debuted to display material for the whole class to see all at once, followed by the launch of … Continue reading “Education Is Unbundling—Three Key Trends to Watch”
Redox Inks Contract with Boston Hospital to Integrate Patient Data
Since launching in 2014, Redox, a Madison, WI-based tech startup, has worked with other healthcare software companies to set up data feeds between their applications and the computerized patient records systems used in hospitals and clinics across the country. Redox has now begun selling its digital tools under a slightly different business model, where healthcare … Continue reading “Redox Inks Contract with Boston Hospital to Integrate Patient Data”
MIT Spinout Affectiva Adds Voice Analysis to Its Emotion-Sensing Tech
Machines are getting better at understanding human speech. Soon, they could also be able to perceive our emotions from the way we talk—and respond accordingly. The latest step toward that longstanding vision comes from Affectiva, an MIT Media Lab spinout that has been developing emotion-sensing technology and products since 2009. In recent years, Boston-based Affectiva … Continue reading “MIT Spinout Affectiva Adds Voice Analysis to Its Emotion-Sensing Tech”
Xconomy Award Finalists in the Eye of the National Drug Price Debate
[Corrected 12:20pm ET; see below.] The national debate over the high cost of healthcare, with prescription drugs at the center, resonates from the chambers of Congress to every American’s pocketbook. And it’s growing fiercer by the day. Last week, the first genetically modified cell therapy came to market with a price tag of $475,000. This … Continue reading “Xconomy Award Finalists in the Eye of the National Drug Price Debate”
Amicus’s Scioderm Deal Flops as Skin Drug Fails in Phase 3
Epidermolysis bullosa is a rare, debilitating skin disease with no approved treatments, and unfortunately, that isn’t going to change anytime soon. Amicus Therapeutics reports this morning that an experimental drug it has been developing for the condition failed a Phase 3 trial. The Cranbury, NJ, company won’t invest in future studies. Amicus (NASDAQ: [[ticker:FOLD]]) said … Continue reading “Amicus’s Scioderm Deal Flops as Skin Drug Fails in Phase 3”
Akadeum Scores $1.5M to Advance Microbubble Cell-Sorting Technology
Akadeum Life Sciences, a cell-sorting startup based in Ann Arbor, MI, has raised nearly $1.5 million in new capital from a mix of Midwestern and Silicon Valley investors. The round was led by Belmont, CA’s BioInfleXion Point Partners, with contributions from 5 Prime Ventures, the University of Michigan’s MINTS program, Invest Detroit, eLab Ventures, and … Continue reading “Akadeum Scores $1.5M to Advance Microbubble Cell-Sorting Technology”
Uniting Cascadia: Cross-Border Efforts on Accelerators, Investment
Startups in Washington, Oregon, and British Columbia can look forward to more regional networking and, perhaps, an increased pool of investment capital under a pair of initiatives announced Tuesday. The Cascadia Innovation Network, spearheaded by the Canadian Consulate General in Seattle, would unite startup incubators and accelerators from across the region in an effort to … Continue reading “Uniting Cascadia: Cross-Border Efforts on Accelerators, Investment”
Northrop Grumman Adds to Growing Cybersecurity Hub in San Antonio
San Antonio—Northrop Grumman, the military contractor that makes everything from cybersecurity systems to fighter planes, has signed a five-year lease on a new property at Port San Antonio, where officials are trying to entice more cybersecurity businesses to move. Northrop (NYSE: [[ticker:NOC]]) is going to occupy a 7,700 square-foot building at the Port, which was … Continue reading “Northrop Grumman Adds to Growing Cybersecurity Hub in San Antonio”
Stealthy NY Startup Rocket Pharma Merges With Inotek, Heads to Nasdaq
Rocket Pharmaceuticals, a stealthy gene therapy startup in New York City, has made its first splash. Through a merger with struggling Inotek Pharmaceuticals (NASDAQ: [[ticker:ITEK]]), Rocket, a company developing treatments for a variety of rare blood diseases, has taken itself public. Rocket shareholders are expected to own 81 percent of the combined company, with Inotek … Continue reading “Stealthy NY Startup Rocket Pharma Merges With Inotek, Heads to Nasdaq”
23andMe Raises $250M For Consumer Disease-Risk Tests, Drug R&D
Once barred from giving consumers disease-related information about their DNA, 23andMe recently received approval to market such genetic tests directly to consumers—and it now has reeled in a boatload of cash to ramp up those efforts, and more. The Mountain View, CA-based genetic testing company said Tuesday it has raised a new $250 million round … Continue reading “23andMe Raises $250M For Consumer Disease-Risk Tests, Drug R&D”
The Winners of the Xconomy Lifetime Achievement Award Are…
The editors at Xconomy have been working hard the last few weeks putting together the program for the Xconomy Awards Gala. We are really excited to announce the two winners of the Xconomy Lifetime Achievement Award. Lita Nelsen, MIT (retired) Lita Nelsen (pictured left) played a pivotal role in transforming Kendall Square and Boston into … Continue reading “The Winners of the Xconomy Lifetime Achievement Award Are…”
All Eyes on Depression Trials as Sage Neuro Drug Flunks Epilepsy Test
Sage Therapeutics this morning reported that its most advanced clinical prospect, a neurological drug known as brexanolone, failed its first big test. Sage (NASDAQ: [[ticker:SAGE]]), of Cambridge MA, said the drug didn’t do much better than a placebo in a Phase 3 trial of patients with a rare, life-threatening form of epilepsy called super refractory … Continue reading “All Eyes on Depression Trials as Sage Neuro Drug Flunks Epilepsy Test”
Prowess in Energy, Logistics, & Talent Gives Houston Edge for Amazon
Houston is the most diverse city in the country with a strong industrial base, well-run port, two airports, cheap real estate, several universities, and most importantly: a huge can-do attitude. Houston should be the home of HQ2 because: —Support: We have been working hard at establishing a third leg to our economy in tech, with … Continue reading “Prowess in Energy, Logistics, & Talent Gives Houston Edge for Amazon”
Grab the Early Bird Rate for Healthcare + A.I. NW on Nov. 9
Leaders from the life sciences and technology industries are coming together for Xconomy’s special event on artificial intelligence in healthcare on Nov. 9 at Cambia Grove in Seattle. Act now to get the best price on tickets for what we expect will be a sold-out event. Join us to hear from experts, innovators, entrepreneurs, and … Continue reading “Grab the Early Bird Rate for Healthcare + A.I. NW on Nov. 9”
Goldman Sachs Leads $38M Investment in Cloud Storage Firm Nasuni
Cloud data storage company Nasuni has padded its war chest with a $38 million growth equity investment led by a Goldman Sachs fund. The new funding brings the Boston-based company’s total venture capital haul to about $120 million since it was founded in 2009. Nasuni last raised money in December 2016, a $25 million combination … Continue reading “Goldman Sachs Leads $38M Investment in Cloud Storage Firm Nasuni”
Entrepreneurs For Houston Launch $10M Fund to Aid Civic Tech Efforts
Houston—As Hurricane-turned-Tropical Storm Harvey slammed into the Texas Gulf Coast, a corps of civic tech volunteers ginned up mapping and other tools to help rescue and provide relief to Houston-area residents. Now, the Entrepreneurs for Houston group, formed in response to the disaster, says it has launched a $10 million campaign to raise a fund … Continue reading “Entrepreneurs For Houston Launch $10M Fund to Aid Civic Tech Efforts”
UW-Madison Researcher, Teacher and Entrepreneur Mark Cook Dies at 61
Mark Cook, a professor in the University of Wisconsin-Madison’s department of animal sciences, died Saturday from cancer complications, the school said. Research conducted by Cook, as well as other students and professors in his laboratory, has led to more than 40 U.S. patents and four spinout companies, according to UW-Madison. Cook came to UW-Madison in … Continue reading “UW-Madison Researcher, Teacher and Entrepreneur Mark Cook Dies at 61”
Rackspace Continues Acquisition Strategy, Buying Competitor Datapipe
San Antonio—Rackspace is continuing to pick up its competitors a year after becoming a private company. The cloud-computing firm has acquired Datapipe, a privately held company that manages servers and public and private cloud-computing systems for customers globally, much like Rackspace. Rackspace isn’t revealing terms of the deal, other than that it is the San … Continue reading “Rackspace Continues Acquisition Strategy, Buying Competitor Datapipe”
Indiana Life Sciences Summit
The BioCrossroads 14th Annual Indiana Life Sciences Summit is expanding the scientific track and adding TED-like talks for the two-day conference at the JW Marriott in Indianapolis 10/9 & 10/10. Thought leaders will talk about breakthroughs and innovation in global health, capital formation, evidence based medicine and more. For more information, visit the event site.
Balter Launches Cryptocurrency Investment Service, Flipside Crypto
The promise of cryptocurrencies has a lot of investors excited, but many don’t know how to go about putting money into the emerging, complex currencies. That’s part of the idea behind Flipside Crypto, a new Boston-based venture that helps a select group of wealthy individuals invest in digital currencies. Flipside is not a financial advisor. … Continue reading “Balter Launches Cryptocurrency Investment Service, Flipside Crypto”
Tech Tools for Harvey and Irma, New Funds in Austin, & More TX News
[Updated: 9/11/17, 3:25 pm. See below.] For nearly two weeks, much of the Houston innovation system has been focused on Hurricane-turned-Tropical Storm Harvey’s multiple landfalls on the Texas Gulf Coast. Anchored by Sketch City and active social media networks, civic tech hackers have created websites, APIs, and mapping tools that helped groups like the Cajun … Continue reading “Tech Tools for Harvey and Irma, New Funds in Austin, & More TX News”
Regeneron Touts Success in Big Asthma Drug Study, Plans FDA Filing
A new drug for patients who have a hard time controlling their asthma could be nearing an FDA review. Tarrytown, NY-based Regeneron Pharmaceuticals (NASDAQ: [[ticker:REGN]]) and partner Sanofi this morning are touting results this morning from a 1,902-patient Phase 3 study called Liberty Asthma Quest. In it, their injectable antibody drug dupilumab (Dupixent), already approved … Continue reading “Regeneron Touts Success in Big Asthma Drug Study, Plans FDA Filing”
Tome, Trek Collaborate on Using A.I. to Avoid Bike-Vehicle Collisions
After Jake Sigal’s first startup, Livio, was acquired by Ford in 2013, he knew he wanted to stay in the realm of connected cars with his next venture. At the time of acquisition, Sigal’s company was developing software to enable in-vehicle connectivity, the infotainment-heavy roots of today’s autonomous vehicle innovations. Back then, he saw that … Continue reading “Tome, Trek Collaborate on Using A.I. to Avoid Bike-Vehicle Collisions”
Montage Raises $8M for Online Video Job-Interviewing Software
A 2016 report by the research firm Gallup found that millennials—people born between 1980 and 1996—are the “most likely generation to switch jobs.” Today’s young professionals’ proclivity for job-hopping is putting a strain on recruiters and human resources departments at large companies, says Kurt Heikkinen, president and CEO of Delafield, WI-based Montage Talent. “You’ve got … Continue reading “Montage Raises $8M for Online Video Job-Interviewing Software”
To Win Amazon’s HQ2, Incentives Are Nice, But Talent Is Required
Amazon lists one requirement in the stunning request for proposals it issued Thursday, which invites cities across North America to compete to host a second corporate headquarters for the tech and commerce giant. Economic development officials are justifiably salivating at the once-in-a-generation opportunity to attract what is arguably the 21st century’s most important company, and … Continue reading “To Win Amazon’s HQ2, Incentives Are Nice, But Talent Is Required”
Harvey Techies Pass Baton, And APIs, To Florida Peers as Irma Nears
Houston—As Tropical Storm Harvey made landfall in Houston, Florida resident Leah Halbina messaged friends in the city asking how she could help. That was how she found out about Sketch City and the various civic tech projects the group and others were developing to aid rescue efforts, help people find shelter, and tend to other … Continue reading “Harvey Techies Pass Baton, And APIs, To Florida Peers as Irma Nears”
Fireside Chat with Duo Security’s Dug Song
Startup Grind hosts this event featuring Xconomist Dug Song, co-founder and CEO of Duo Security, one of Michigan’s fastest-growing tech companies. Xconomy readers can get 5o percent off admission by using the code Xconomy50OFF. For more information, click here.
Bio Roundup: RNAi Drama, Immunotherapy Data, Lasker Winners & More
The summer doldrums are over. Biotech news came at a breakneck pace this week both before and after Labor Day, starting with the surprise resignation of Novartis’s top executive just days after the Swiss company notched an historic FDA approval. From there, the week featured big headlines, both good and bad, from several trials in … Continue reading “Bio Roundup: RNAi Drama, Immunotherapy Data, Lasker Winners & More”
Silicon Valley’s Big Week in Politics: Facebook, Google, DACA, More
Silicon Valley’s public role in politics has intensified this year, and this week brought a particularly rapid flurry of news developments that continued the trend. The biggest headlines came from Facebook, which disclosed that entities linked to Russia bought thousands of political messaging ads on its social media network during the 2016 presidential campaign, making … Continue reading “Silicon Valley’s Big Week in Politics: Facebook, Google, DACA, More”
Venture Group’s Krenn Sees Improving VC Deals for SD Tech Startups
Call him an optimist if you must, but San Diego Venture Group president Mike Krenn says venture financings for San Diego’s early stage tech startups are on a tear. “I haven’t seen it this good since 2007,” he says. As head of the non-profit organization supporting local startups, Krenn says the venture group will help … Continue reading “Venture Group’s Krenn Sees Improving VC Deals for SD Tech Startups”
Five Regions That Could Draw Amazon’s Next Headquarters
[Updated 4:26 p.m. See below.] Amazon sent cities across North America into a frenzy Thursday after announcing plans to build a second headquarters outside of Seattle, bringing with it tens of thousands of jobs and billions of dollars in economic development benefits. The tech and commerce giant says it wants cities and states to apply … Continue reading “Five Regions That Could Draw Amazon’s Next Headquarters”
Levin, Holtzman, 183 Other Bio Leaders Urge White House to Preserve DACA
Biotech CEOs Jeremy Levin and Steve Holtzman are continuing their recent push to spur the life sciences industry to speak out against government policies it doesn’t agree with. Levin, CEO of Ovid Therapeutics (NASDAQ: [[ticker:OVID]]) and Holtzman, the head of Decibel Therapeutics, co-authored a letter to the Trump administration and congressional leaders asking them to … Continue reading “Levin, Holtzman, 183 Other Bio Leaders Urge White House to Preserve DACA”
Immunotherapy Safety Worries Halt Celgene Myeloma Study, Slow 5 Others
Amid growing concerns about the safety of a new class of cancer immunotherapy drugs when combined with other therapies to treat blood cancers, the FDA has put the brakes on another batch of clinical studies, this time run by the publicly traded biotech Celgene (NASDAQ: [[ticker:CELG]]). Celgene said this morning that the nation’s drug regulator … Continue reading “Immunotherapy Safety Worries Halt Celgene Myeloma Study, Slow 5 Others”
Fetch Rewards Raises $9.6M, Adds New App to Let Users Scan Receipts
[Updated 9/7/17 7:57 p.m. See below.] Fetch Rewards, a Madison, WI-based startup whose two mobile apps are aimed at providing discounts and rewards for buying food, beverages, and other items, has raised more than $9.6 million in equity funding. Loeb Enterprises, a New York-based investment group that focuses on the marketing and media industries, led the … Continue reading “Fetch Rewards Raises $9.6M, Adds New App to Let Users Scan Receipts”
IBM Puts $240M Into Joint A.I. Research Lab With MIT
IBM has bet much of its future on the promise of artificial intelligence. It’s still unclear whether that strategy will pay off, but the company continues to make significant investments in the technology area. The latest move: IBM will pour $240 million over 10 years into a joint A.I. research lab in partnership with MIT. … Continue reading “IBM Puts $240M Into Joint A.I. Research Lab With MIT”
Favor Adds $22M to Expand Again After Cutting Delivery Outside Texas
Austin—Favor, the delivery startup that shuttered all of its operations outside of Texas earlier this year, has raised a $22 million Series B round of funding to add more cities to the list of 15 in Texas where people can use its app. The startup, which connects people wanting a something delivered via its app … Continue reading “Favor Adds $22M to Expand Again After Cutting Delivery Outside Texas”
On Eve of Big Data Reveal, Patient Death Stalls Alnylam Hemophilia Drug
After years of ups and downs, RNA interference is as close as it’s ever been to producing its first drug. But the field’s roller coaster ride hit another bump this morning: Alnylam Pharmaceuticals is suspending development of an experimental hemophilia drug after a patient in a clinical trial died from brain swelling. It’s a setback … Continue reading “On Eve of Big Data Reveal, Patient Death Stalls Alnylam Hemophilia Drug”
NextCODE Reloads With $240M, Eyes IPO, As Genomic Data Demand Grows
Is the time finally right for companies trying to manage and store vast amounts of genomic data? The story of Wuxi NextCODE appears to make that case. The successor to an Icelandic genomics company that struggled through a bankruptcy, NextCODE was sold to China’s Wuxi Pharmatech for $65 million in 2015, and has now closed … Continue reading “NextCODE Reloads With $240M, Eyes IPO, As Genomic Data Demand Grows”
Esther Dyson Joins Healthcare + A.I. on 11/2: Early Bird Ends Today
Grab your ticket to attend Xconomy’s newest event in the Boston area, Healthcare + A.I. Leaders in healthcare and artificial intelligence will discuss the challenges and opportunities around business models, regulations, data access, patient privacy, and much more. Join us on November 2 at Pfizer’s offices in Cambridge, MA, to take a look at how … Continue reading “Esther Dyson Joins Healthcare + A.I. on 11/2: Early Bird Ends Today”
Time Zones Matter: Why Kronos Opened an Indy Tech Center
[Correction, 9/7/17, 11:45 a.m. See below.] Kronos, a Lowell, MA-based company focused on workforce management software and services, has operations across the world. It serves customers in more than 100 countries, raking in over a billion dollars in revenue annually. So it might be surprising that, according to chief services officer and senior vice president … Continue reading “Time Zones Matter: Why Kronos Opened an Indy Tech Center”
Zipwhip Continues Business Texting Push With $22.5M in New Funding
How many texts did you send today? And how many did you send to a business? Whatever the number, Zipwhip and the investors who just poured another $22.5 million into the Seattle company are betting you’ll be sending more—and they’re not alone. Zipwhip makes software that allows businesses to better communicate with customers via text … Continue reading “Zipwhip Continues Business Texting Push With $22.5M in New Funding”
HubSpot Buys Dating App, Joule Winds Down, & More Boston Tech News
It’s time to catch up on the latest happenings in the Boston-area tech scene: —Joule Unlimited, a decade-old biofuels company that raised at least $200 million in venture capital, is reportedly calling it quits. The Bedford, MA-based company laid off nearly all of its 120 employees, sold its New Mexico manufacturing facility, and is trying … Continue reading “HubSpot Buys Dating App, Joule Winds Down, & More Boston Tech News”
Lasker Award Goes to HPV Vaccine Developers Lowy, Schiller
A top prize in American biomedical science was awarded today to two scientists for their discoveries that led to the development of a human papillomavirus (HPV) vaccine, which prevents cervical cancer caused by the sexually transmitted virus. Douglas Lowy (pictured right), acting director of the National Cancer Institute (NCI), and John Schiller (left), also at … Continue reading “Lasker Award Goes to HPV Vaccine Developers Lowy, Schiller”
Aras Downloads $40M to Help GE, Microsoft & Others Design Products
As more hardware and devices get connected to the Internet, their increasing complexity is requiring more advanced software to coordinate how they get designed, manufactured, and repaired. That’s helping drive demand for companies like Aras, a 17-year-old business that sells “product lifecycle management” software to large enterprises like Airbus, General Motors, and Microsoft. And today, … Continue reading “Aras Downloads $40M to Help GE, Microsoft & Others Design Products”
Smartphone Medicine: Detecting Concussions With Machine Learning
If you’re rolled into the emergency room of Harborview Medical Center with a head injury, doctors there might use an $8,000 infrared camera to track how your pupils respond to light. The digital pupilometer can measure the pupillary light reflex with more precision than even an expert clinician can, using a pen light and his … Continue reading “Smartphone Medicine: Detecting Concussions With Machine Learning”
From Robotic Chefs to Broadband Tech, Here Are 5 New Boston VC Deals
It’s time to catch up on some of the latest venture funding news from the Boston area. We’re tracking new money for companies whose products span software, telecommunications equipment, lab devices, robots, and food. Read on for details. —EverTrue scooped up $6 million in funding led by University Ventures, according to a press release e-mailed … Continue reading “From Robotic Chefs to Broadband Tech, Here Are 5 New Boston VC Deals”
Seeking to Cash in For Investors Again, Rhythm Pharma Files For IPO
Most biotechs pursue either a sale or an IPO to reward their investors. Rhythm Pharmaceuticals is now trying to accomplish both. A year after Rhythm funneled a stomach drug into a subsidiary and sold it to Allergan for $200 million, the Boston-based company—developing a different drug for rare forms of obesity—has filed for an IPO. … Continue reading “Seeking to Cash in For Investors Again, Rhythm Pharma Files For IPO”