Posts filtered by tags: Boston top stories[x]


Despite Buyout, Celgene Dealmaking Rolls On With Kyn, Obsidian Tie-Ups

[Updated 12:35pm ET with comments from Michael Gilman, Obsidian CEO, see below.] Bristol-Myers Squibb’s huge proposed buyout of Celgene earlier this month has left many in biotech circles concerned that the Summit, NJ, drugmaker’s days of creative, aggressive dealmaking with smaller companies might be over. So far, however, that isn’t the case.Two Boston-area biotechs, Kyn Therapeutics and Obsidian Therapeutics, announced deals this morning with Celgene (NASDAQ: CELG). Both partnerships bring C...
Tags: Deals, Boston, Cancer, Trends, Immunotherapy, Biotech, Life Sciences, Celgene, Bristol-myers Squibb, Obsidian, National blog main, New York blog main, New York top stories, Boston blog main, National top stories, Boston top stories

Boston Tech Watch: Nantucket, Lionbridge, Nano-C, Barac & Quick Base

Nantucket entrepreneurs welcome, and acquisitions abound. There are also new owners, new offices and new money in the bank for Boston-area technology companies this week. Read on for the details.—Sense, the Cambridge, MA-based home electricity management technology startup, has partnered with Swiss utility technology company Landis+Gyr to put Sense’s technology in Landis’ Internet-of-things platform, the companies said. In addition, Landis+Gyr joined Sense’s previously announced $18 million Ser...
Tags: Translation, Deals, Startups, Internet Of Things, UK, New York, Entrepreneurship, Germany, Boston, Trends, Tech, Cybersecurity, Vc, Paris, Venture Capital, Cambridge

IBM Vets Launch Sonrai Security, Eyeing Multi-Cloud “Complexity”

Businesses racing faster and faster to put their data and applications into multiple cloud services will soon have to figure out how to keep an eye on it all. Start thinking about the hundreds of users, the dozens of accounts, and the handful of different cloud services that don’t always speak the same language, and the job of monitoring and securing it all quickly gets complicated.This is the problem that Brendan Hannigan and Sandy Bird are attacking with their New York-based company Sonrai Se...
Tags: Google, Amazon, Deals, Startups, Open Source, Cloud, New York, Microsoft, Identity, Azure, Trends, Tech, Cisco, It, Cybersecurity, Vc

Bio Roundup: #JPM19 Notes, Loxo Buyout, Black Diamond’s Cash & More

Diabetes drugs are Eli Lilly’s bread and butter, but the pharmaceutical giant hasn’t lost its appetite for cancer drugs. It grabbed hold of a few more this week by betting $8 billion on Loxo Oncology.Loxo (NASDAQ: LOXO) has made a name for itself by becoming one of just two companies ever to earn an FDA approval for a drug that targets a tumor’s DNA fingerprint, no matter where in the body that cancer is found. The drug, larotrectinib, targets rare tumor abnormalities known as NTRK fusions. The...
Tags: Deals, Startups, Ipo, Cancer, Trends, Medicare, SEC, Fda, National, GlaxoSmithKline, Allergan, Shire, Biotech, Medical Device, Postpartum Depression, Bernie Sanders

Boston Tech Watch: Boston Metal, TaxJar, ClimaCell, & WithMe Health

A bunch of startups started 2019 off on the right foot taking big checks cut by investors that continue the boom from 2018. Read on for more.—Weather forecast company ClimaCell says its high-resolution data is now available in 40 countries, including India. In October, the Boston-based startup raised $45 million, pushing its total venture capital haul to $65 million, and since then, it added another $5 million from GXP Investments, an arm of Kansas power utility Great Plains Energy, and Nationa...
Tags: Deals, Startups, Boston, India, Israel, Trends, Tech, Mit, Bill Gates, Venture Capital, Cambridge, Kansas, National Grid, Worcester, Affectiva, Wells Fargo

Black Diamond Gets $85M for Cancer Drugs R&D and New Cambridge HQ

When Black Diamond Therapeutics emerged from stealth mode last month with $20 million in backing and a handful of preclinical cancer drugs, the company signaled that another financing was in the works for 2019. That day is here.Black Diamond announced late Wednesday that it has closed $85 million in Series B financing, which the company says it will use to advance its top drug candidates into human testing within the next two years.Black Diamond was incubated within the Switzerland drug discove...
Tags: Deals, Startups, Boston, Cancer, Trends, Venture Capital, Switzerland, Biotech, Drug, New Enterprise Associates, Life Sciences, Black Diamond, Clinical Trials, Allosteric, Versant Ventures, National blog main

Beta Bionics Secures $63M as AI-Driven “Pancreas” Heads to Key Tests

Beta Bionics, a startup developing a medical device that monitors and manages blood sugar levels in diabetes patients, has closed $63 million to back late-stage clinical tests of its AI-powered technology.The cash tops off a Series B round of funding announced last year. The Boston company, which counts diabetes drug giants Eli Lilly (NYSE: LLY) and Novo Nordisk (NYSE: NVO) among its investors and partners, says the capital will support Phase 3 studies of its device this year, and if all goes w...
Tags: Deals, Startups, Boston, Trends, Investing, Vc, Software, Diabetes, Venture Capital, Fda, Biotech, Novo Nordisk, Medical Device, Wearable Devices, Medtech, Life Sciences

Smooth-Driving Startup ClearMotion Gets $115M for Production Push

Auto technology startup ClearMotion says its active suspension system promising buttery-smooth rides on bumpy terrain is ready for prime time.The Boston-area business says it raised a $115 million Series D funding round led by Franklin Templeton Investments and it is working with a handful of automotive manufacturers to commercialize the product.ClearMotion developed a car suspension system it likens to noise-cancelling for potholes and the like that was based on research audio technology compa...
Tags: Deals, Microsoft, Boston, Trends, Tech, Mit, Vc, Automotive, Data Science, Venture Capital, Machine Learning, Mobility, Birmingham, Bose, Qualcomm, BRIDGESTONE

Bio-JPM Roundup: Lilly Buys Loxo, Sage’s Stock Soars, ALS Cash & More

The flow of biotech news is particularly heavy today, and for good reason. The annual J.P. Morgan Healthcare Conference, one of the biggest gatherings for the biopharmaceutical industry, kicked off today in San Francisco, and many companies, whether they’re speaking at the event or not, use this time to get their news out.Xconomy is on the ground covering the conference this week. In the meantime, here’s a short roundup of biotech news announced today.DEALS AND DATA—Eli Lilly (NYSE: LLY) is pay...
Tags: Deals, Startups, San Francisco, Trends, Investing, Vc, Venture Capital, Fda, National, GlaxoSmithKline, Biotech, Postpartum Depression, Life Sciences, Clinical Trials, Celgene, Gilead Sciences

Humatics Raises $28M Round to Advance Spatial Intelligence Platform

Humatics, the Waltham, MA-based startup working on microlocation technology for use in robots and autonomous vehicles, today announced that it has raised $28 million in a Series A1 round.The investment was led by Tenfore Holdings, with participation from Blackhorn Ventures, JCI Ventures (the venture arm of Johnson Controls), and all major investors from Humatics’ 2017 Series A round, including Fontinalis Ventures, Airbus Ventures, Lockheed Martin Ventures, and Presidio Ventures. The two rounds ...
Tags: Deals, Startups, Entrepreneurship, Boston, Trends, Mit, Vc, Software, Innovation, Venture Capital, Gps, Series A, Industrial Robots, Waltham, Johnson Controls, Airbus Ventures

Frequency Nabs $42M for Hearing Loss Drugs, Clinical Data On The Way

Hearing loss drug development continues to attract investment, with Frequency Therapeutics announcing today that it has brought in $42 million in a Series B financing to help it move its treatment through clinical testing.Boston area-based Frequency is working on small molecule drugs that stimulate the growth of dormant stem cells in the body, and its lead drug, FX-322, targets key sensory cells in the inner ear. The drug, which is injected into the ear, is in an early-stage clinical trial, and...
Tags: Deals, Boston, Funding, Trends, Venture Capital, Biotech, Hearing Loss, Series B, Life Sciences, National blog main, Boston blog main, Boston top stories, Decibel Therapeutics, Frequency Therapeutics, Akouos

Ribon Raises $65M to Pursue PARP-Blocking Pills for Cancer

A new class of ovarian and breast cancer drugs that thwart a DNA repair mechanism ushered in a novel approach to treating cancer. The first PARP inhibitor was approved in 2014. That drug, and others that followed, block a PARP enzyme that plays a key role in this repair process. But it turns out there’s more than one type of PARP—17, to be exact. Ribon Therapeutics aims to target other PARPs with small molecule drugs, and the Boston-area startup has raised $65 million in financing to bring its ...
Tags: Deals, Startups, Boston, Cancer, Funding, Trends, Venture Capital, Astrazeneca, Biotech, Series B, Life Sciences, Oncology, Celgene, Olaparib, Osage University Partners, National blog main

In a Huge Biopharma Shakeup, Bristol-Myers to Buy Celgene For $74B

Bristol-Myers Squibb has agreed to acquire Celgene in a deal that would create one of the largest biopharma organizations in the world and send ripples throughout the life sciences sector.Bristol (NYSE: BMY) on Thursday morning inked a deal to buy Celgene (NASDAQ: CELG) in a deal that values the Summit, NJ, drugmaker at $74 billion, or $102.43 per share. Celgene shareholders will get $50 in cash and one Bristol share for each Celgene share they own. They’ll also get one tradeable contingent val...
Tags: Deals, Trends, Merck, M&a, Fda, National, Bristol, Biotech, Life Sciences, Celgene, Bristol-myers Squibb, KEYTRUDA, CVR, Opdivo, Orencia, Revlimid

Tiburio Launches from Cydan with $31M to Tackle Pituitary Tumors

Biotech startup creator Cydan is unveiling a new company, Tiburio Therapeutics, which is backed by $31 million to support its work on treatments for rare endocrine diseases.Cambridge, MA-based Cydan was started by New Enterprise Associates (NEA) six years ago to scour the world for compounds that can be turned into rare disease treatments, and to form companies around the most promising drug candidates.Tiburio’s lead drug, TBR-760, was licensed from Ipsen, which had developed the drug for a typ...
Tags: Deals, Drugs, Boston, Trends, Startup, Investing, Venture Capital, Cambridge, Fda, Biotech, New Enterprise Associates, Life Sciences, Clinical Trials, New Enterprise Associates NEA, Alexandria Venture Investments, Ipsen

MyoKardia Goes Solo as Sanofi Ends Precision Heart Drug Deal

MyoKardia rode a partnership with Sanofi to the public markets a few years ago. But the two companies are cutting ties today, with MyoKardia regaining full rights to its drug programs and assuming all the upside—and risk—of their success or failure.MyoKardia (NASDAQ: MYOK) said the deal, which started in September 2014, will wrap up in April. At that point, the South San Francisco, CA-based firm will fully control all of its experimental drugs, including the heart disease drugs mavacamten and M...
Tags: Deals, San Francisco, Trends, Vc, Biotech, Life Sciences, Clinical Trials, Sanofi, South San Francisco CA, National blog main, Boston blog main, San Francisco blog main, San Francisco top stories, Third Rock Ventures, Boston top stories, MYOK

Atlas Venture Bags $250M For New Growth Capital Fund

Atlas Venture says it has raised a $250 million fund meant to continue backing its startups as they grow.The Cambridge, MA, life sciences venture firm, known for seeding and incubating biotech startups, will use the new “Atlas Venture Opportunity Fund I” to invest in portfolio companies that have progressed to a Series B round and beyond. The fund complements Atlas’s existing funds—most recently a $350 million haul in June 2017—which it uses to seed new biotechs. The new fund will be run by the...
Tags: Deals, Startups, Boston, Trends, Atlas, Vc, Fund, Life Sciences, Atlas Venture, National blog main, Boston blog main, Boston top stories, Atlas Venture Opportunity Fund

From Alnylam to Zayner: Xconomy’s Top Innovation Stories of 2018

2018 was a year of ups and downs for the business and technology community. It was a year of big exits—both IPOs and acquisitions—for tech and life sciences companies. Venture funding remained strong, but more money went to fewer (and later-stage) companies overall. As the year winds down, we’re reflecting on the big innovation trends and developments that will carry over to next year.Storylines in various sectors helped shape the overall narrative in 2018. Cell and gene therapies, cancer immun...
Tags: Deals, Startups, Technology, Cloud Computing, Trends, Tech, IPOs, It, People, Cybersecurity, Analysis, Vc, Software, Bitcoin, Bill Gates, Innovation

CFOs: Prepare To Become Your Company’s Data Czar This Year

In mid-2018, Tom Bogan was the leader of business planning software company Adaptive Insights as it planned its own next steps. The Palo Alto, CA-based company was on the point of raising about $115 million in a June IPO that would have set its market value at around $705 million, according to PitchBook.But like Dustin Hoffman in “The Graduate,” the big enterprise software company Workday lured Adaptive Insights away from the IPO altar with a more attractive deal—a $1.55 billion acquisition off...
Tags: Deals, Startups, Cloud, Internet, Entrepreneurship, Ipo, Funding, San Francisco, Trends, Tech, Web, It, Excel, Software, Data Science, Innovation

Gates Foundation, Bristol-Myers Join $27M Funding for Vedanta Bio

Microbiome drug developer Vedanta Biosciences has raised $27 million in funding to press forward with clinical trials for four therapeutic candidates.Vedanta’s experimental treatments are compositions of live bacteria that the Cambridge, MA, company says trigger a targeted immune response. By shifting the ecosystem of gut bacteria, Vedanta says its therapies can potentially treat autoimmune and allergic diseases, as well as cancer.The company’s most advanced drug candidate, VE303, has started a...
Tags: Deals, Startups, Drugs, Boston, Cancer, Trends, Investing, Venture Capital, Cambridge, Biotech, Microbiome, Ubiome, Life Sciences, Clinical Trials, Nivolumab, Vedanta

Relay Raises $400M to Kick Protein Motion Drug R&D into High Gear

The line dividing biotechnology and high tech is blurring as drug companies find new ways to apply computer advances in the hunt for new drugs. Relay Therapeutics uses these techniques to better understand a protein’s role in disease and develop a drug to address it. Cancer is Relay’s first target.The Cambridge, MA, biotech is moving forward with its plans to advance its lead cancer programs into clinical trials with an additional $400 million it raised in a Series C round of funding led by the...
Tags: Deals, Drugs, Boston, Cancer, Trends, Tech, Investing, It, Software, Venture Capital, Cambridge, Machine Learning, Biotech, Life Sciences, Clinical Trials, Alexandria Venture Investments

From Google to Gates: Malta Targets Power Storage With Molten Salt

A new and unconventional power storage startup is preaching the gospel of salt and antifreeze as the long-sought answer to how to bottle up renewable electricity from intermittent solar and wind projects.Malta, based in Cambridge, MA, announced today it has graduated from Alphabet’s X, the Moonshot Factory—where it was known as Project Malta—and is heading off into the world with a $26 million Series A funding round led by Breakthrough Energy Ventures, the climate change fund led by Bill Gates....
Tags: Google, Deals, Startups, Boston, Trends, Tech, Renewable Energy, Launch, X, Bill Gates, Venture Capital, Wind, Clean Energy, Solar, Cleantech, Battery

Gilead, Scholar Rock Sign $80M Up Front Deal for Fibrosis Drugs

Drugmakers are increasingly turning their attention toward fibrosis, the excessive growth of connective tissue that can lead to scarring and dysfunction of multiple organs including the lungs, liver and kidneys. In the latest deal centered on this disorder, Gilead Sciences (NASDAQ: GILD) will pay Scholar Rock of Cambridge, MA (NASDAQ: SRRK) $80 million up front for exclusive  options to license antibody drugs that inhibit TGF-beta, a protein that  boosts cell growth and is thought to drive fibr...
Tags: Deals, Drugs, Boston, Trends, Abbvie, Biotech, Life Sciences, Clinical Trials, Gilead Sciences, Gilead, TGF, National blog main, Boston blog main, San Francisco blog main, San Francisco top stories, Boston top stories

Graphcore Scores $200M to Scale Up A.I. Chip Production

One of the leading contenders in the A.I. chip race, Graphcore, announced Thursday it pulled down $200 million in a Series D fundraising round that set its valuation at $1.7 billion.The Bristol, UK-based startup, founded in 2016, has now secured a total of more than $300 million in financing from venture capital firms and other investors including Microsoft and the corporate venture arms of BMW and Dell Technologies.Graphcore’s big haul is a notable milestone in the recent revival of investor i...
Tags: Google, Deals, Startups, Facebook, Hardware, Microsoft, Internet, Entrepreneurship, Softbank, Funding, Samsung, San Francisco, Trends, Tech, It, Mit

RightHand Robotics Adds $23M to Scale Up Its Warehouse Tech

Warehouses run entirely by robots may not be waiting on the horizon, but that—and much more—remains a goal for Somerville, MA-based RightHand Robotics.“A typical item delivered to a customer is touched four to 11 times before it ships,” says the company’s co-founder Leif Jentoft. “We are looking to automate every one of those picks.”While artificially intelligent robots like RightHand’s won’t be writing pink slips for human warehouse workers anytime soon, it’s Jentoft’s expectation that the “li...
Tags: Amazon, Deals, Startups, Boston, Trends, Tech, E-commerce, Venture Capital, Robotics, Logistics, Kiva, Google Ventures, Menlo Ventures, National blog main, Boston blog main, Xperience

24M, Reeling In $22M, Thinks It Has the Next Great Battery

It turns out we might have been making lithium-ion batteries all wrong this whole time.That’s at least what Cambridge, MA-based battery startup 24M says, now having developed what it sees as the “right” way.The company, a spinoff of A123 Systems, announced today it raised a $21.8 million Series D round led by Japanese companies Kyocera Group and Itochu. Long quiet, 24M is now happy to explain how over the past few years it hacked the battery’s conventional manufacturing process.24M says its big...
Tags: Deals, Startups, Boston, Trends, Tesla, Vc, Electric Vehicles, Venture Capital, Cambridge, Clean Energy, Cleantech, Factory, Kyocera, Battery, A123 Systems, Itochu

Bio Roundup: Eli Lilly Tries Tau, Generic Insulin, NASH Cash & More

Pharmaceutical industry critics lament the cost of rare disease drugs, but some of the steepest price hikes have come on widely used insulin.The patent holder, the University of Toronto, gave companies the right to manufacture insulin. But the university also allowed them to patent the improvements they made, which enabled them to slap higher prices on each new version.In the nearly 100 years since insulin’s discovery, no generic version has become available in the U.S. to offer competitive pri...
Tags: Deals, Startups, Breast Cancer, Washington, Ipo, Cancer, Trends, Investing, Diabetes, Schizophrenia, Venture Capital, Addiction, Fda, National, Novartis, Biotech

Boston Tech Watch: Indigo Ag, GE, Algo Capital,, Cybric

Venture capital deals, acquisitions, and spin-offs made up much of this week’s Boston technology news.—Boston-based agtech startup Indigo Ag has acquired TellusLabs, an A.I. satellite technology company that was founded in Somerville, MA. Terms of the deal were not disclosed. Indigo says it plans to integrate TellusLabs’ agricultural technology with its on-the-ground data to hopefully help growers increase crop yields. In September, Indigo raised a $250 million Series E funding round and launch...
Tags: Apple, Deals, Startups, Cloud, Boston, San Francisco, Trends, Mit, Palo Alto, Vc, Austin, Hacking, Northampton, Mark Cuban, Venture Capital, Cambridge

Aiera Bags $3.5M for A.I. to Help Wall Street Analysts Pick Stocks

Machine learning startups are trying to establish a deeper presence on Wall Street.The latest move comes from Aiera (pronounced like “era”), a New York- and Boston-based company that announced today it took in $3.5 million in seed funding. Flybridge Capital Partners led the investment and was joined by Macquarie Group, Innovation Endeavors, Fin Venture Capital, and WGI Group.Aiera, which stands for “artificially intelligent equity research analyst,” wants to use A.I. technologies to help active...
Tags: Amazon, Deals, Startups, Facebook, New York, Jobs, Finance, Wall Street, Boston, Trends, Tech, It, Vc, Software, Automation, Credit Suisse

Facial Recognition Startup Suspect Technologies Raises $810K

Amid warnings over potential dangers of facial recognition, Jacob Sniff is still bullish on the technology.His Cambridge, MA-based facial recognition software startup Suspect Technologies has closed on an $810,000 funding round co-led by billionaire investor and “Shark Tank” star Mark Cuban and Santa Monica, CA-based venture firm Chaac Ventures.Up until now, Suspect Technologies has sold its automatic facial-redaction software to makers of police body cameras, and cops use it to blur or block f...
Tags: Deals, Startups, Microsoft, Police, Boston, Trends, Mit, Surveillance, Vc, Artificial Intelligence, Mark Cuban, Cambridge, Facial Recognition, Public Safety, Shark Tank, New York University

Eli Lilly Partners with AC Immune on Tau Blockers for Alzheimer’s

There’s at least one major pharmaceutical company that isn’t giving up yet on finding a drug for Alzheimer’s disease, despite a long trail of clinical flops. Eli Lilly is pairing up with AC Immune to develop drugs that block tau, a protein linked to the neurodegenerative disease.Under the agreement announced Wednesday, AC Immune (NASDAQ: ACIU) will receive from Lilly about $80 million up front, plus $50 million in the form of a convertible note, a form of debt financing that converts into equit...
Tags: Deals, Trends, Indiana, Alzheimer's Disease, Alzheimer's, Biotech, Partnership, Life Sciences, Eisai, Lilly, Biogen, Eli Lilly, Tau, National blog main, Boston blog main, Boston top stories

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