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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


WI Watchlist: Fiserv, Promega, Arrowhead, Basic-code, EnSync & More

The biggest news of the week from Wisconsin’s high-tech sectors was by far Brookfield-based Fiserv’s (NASDAQ: FISV) massive $22 billion deal to acquire First Data (NYSE: FDC). Meanwhile, here are some headlines and happenings you might’ve missed:—Basic-code raised nearly $250,000 in equity funding, according to an SEC filing. The Brookfield, WI-based startup, which offers sales analysis and forecasting software, pulled in more than $736,000 in equity financing last February. Founder and preside...
Tags: Deals, Energy, Startups, Trends, Tech, Vc, Software, Wisconsin, Brookfield, SEC, Cleantech, Life Sciences, Resmed, Fiserv, Exabyte, Wisconsin Economic Development Corp


Educational Play Kit Company Osmo Sold to India’s Edtech Firm Byju’s for $120M

Byju’s, an edtech company based in India that claims a $3.6 billion valuation based on its sales success there, announced it has acquired Palo Alto, CA-based learning-through-play firm Osmo for $120 million.Named after the teacher Byju Raveendran, who founded the company in 2011, Byju’s is making its first acquisition in the United States to advance its goals of expanding globally and adding very young children to its user base. The company, which announced the deal Wednesday, had already made ...
Tags: Google, Deals, Startups, Mobile, Hardware, Education, Internet, Entrepreneurship, India, Funding, San Francisco, Trends, Tech, Web, It, Vc


CommonGrounds Raises $100M to Open More New Flexible Office Spaces

Billions of dollars have already flowed to the purveyors of shared workspaces, and the investment spigot isn’t turning off yet.CommonGrounds Workspace, a San Diego, CA-based company that operates flexible office spaces in California and Colorado today, announced Wednesday that it had raised $100 million in a Series A financing to expand its lineup to roughly 50 sites during the next two years.The company says the new money comes from three investors: CommonGrounds’s seed-stage backer, a local r...
Tags: Deals, Facebook, Real Estate, Microsoft, Developer, Colorado, California, Funding, Trends, Tech, Nike, Development, Cigna, Venture Capital, San Diego, WeWork


With New Cash and Facilities, Phoenix Transitions Out Of Startup Mode

It’s often not obvious precisely when an early-stage business reaches the point where it outgrows the “startup” label.Case in point: Madison, WI-based Phoenix, which sells neutron generators and provides image-reading services to organizations in industries ranging from healthcare to renewable energy to aerospace and defense.“From a cultural standpoint, everybody’s starting to feel the maturation of the company,” says Evan Sengbusch, Phoenix’s president. The company “still has the startup cultu...
Tags: Deals, Startups, Trends, Tech, Vc, Wisconsin, Manufacturing, Accelerators, Phoenix, Particle Accelerators, Exabyte, National blog main, Wisconsin blog main, Wisconsin top stories, Madison WI, Medical imaging


ScoutRFP Scores $33M to Compete in Supplier Management Sector

ScoutRFP, whose software is designed to help businesses streamline the process of ordering goods from suppliers, announced that it raised $33 million in a Series C fundraising round led by Scale Venture Partners.San Francisco-based Scout, part of a tech sector dubbed supplier relations management, or SRM, aims to free businesses from painstaking traditional methods of seeking bids from various suppliers and comparing their merits. Some companies are still doing this by laboriously creating spre...
Tags: Deals, Startups, Mobile, Cloud, Internet, Entrepreneurship, Funding, San Francisco, Trends, Tech, Web, It, Vc, Software, Automation, Innovation


Fiserv to Buy First Data for $22B as Fintech Consolidation Continues

The mega-deals keep on coming. Today, it’s a massive acquisition in financial technology: Fiserv has struck an agreement to acquire First Data in an all-stock transaction valued at $22 billion.The deal has been approved by both companies’ boards but still needs to be accepted by shareholders and regulators. Assuming it closes as expected later this year, it would combine two big players in financial services and payments processing.Fiserv (NASDAQ: FISV), a 35-year-old company based in Brookfiel...
Tags: Deals, Mobile, Apps, Trends, Tech, It, Software, M&a, Square, Wisconsin, Payments, Stripe, Fintech, Izettle, First Data, Worldpay


After 33 Exits in 5 Years, WI Seeks “More and Bigger” Startup Deals

When Propeller Health’s founders initially tried to raise funding for their new healthcare technology venture, many of the investors they spoke with were hesitant to take the risk.It was the early part of this decade, and Propeller was navigating the FDA’s regulatory process for medical devices. The company believed it had a chance to become one of the first to earn market clearance from the agency for a software product, says Propeller co-founder and CEO David Van Sickle. Propeller’s idea for ...
Tags: Deals, Startups, Mobile, Apps, Internet Of Things, Education, Connected Devices, Trends, Tech, It, Cybersecurity, Walgreens, Vc, Software, Healthcare, M&a


NAIAS: Ford’s Foray into Microtransit Proved Valuable, Klevorn Says

Detroit’s North American International Auto Show (NAIAS) pulled back the curtains for a media preview Monday and Tuesday before it opens its doors to the public next week.Coming on the heels of CES—the annual technology conference in Las Vegas that has increasingly become the preferred venue for automakers to showcase their latest technology developments—the Detroit auto show is a more car-centric affair. However, as automotive companies strive to be seen as tech companies, there is also plenty...
Tags: Deals, Lyft, Trends, Ces, Ford, Scooters, Auto Industry, Innovation, Mobility, Las Vegas, Volkswagen, Detroit, Smart Cities, Spin, Chariot, North American International Auto Show


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


Smartsheet Buys TernPro, Seattle Developer of Collaboration Tools

Smartsheet, a Bellevue, WA-based company that develops collaborative software allowing users to track projects and manage company processes, said Tuesday it has acquired Seattle-based TernPro, whose flagship product Slope lets customers mark up documents, images, videos, and other media before releasing them to a wider audience.Financial terms of the deal were not disclosed.Smartsheet’s (NYSE: SMAR) and TernPro’s products both fit into the category of collaborative work management tools. But th...
Tags: Amazon, Deals, Trends, Tech, Oakland Athletics, Seattle, Major League Baseball, Amazon Web Services, Microsoft Ventures, Sendgrid, Forrester, Slope, Exabyte, National blog main, Seattle blog main, Seattle top stories


AlwaysAI Adds $4M to Bring Deep Learning to Embedded ‘Edge’ Devices

Many of our devices, from wearables to medical instruments to drones, can capture reams of images. Using algorithms to analyze those images on the devices, in turn, generally takes loads of computing power and energy—sometimes more than is feasible.AlwaysAI says it is getting ready to sell its software for enterprise developers looking to make applications that use deep learning to better process the immense amount of data from embedded devices, such as cameras, drones, wearables, and robots—an...
Tags: Deals, Cloud Computing, Trends, Tech, Artificial Intelligence, Software, SaaS, Venture Capital, San Diego, Blackberry, Network, Ai, Financing, Deep Learning, Computer Vision, Edge


Goods Unite Us Raises $500K to Track Corporate Political Leanings

Goods Unite Us, a Madison, WI-based startup seeking to inform shoppers about the political leanings of corporations they purchase products and services from, says it closed a $500,000 seed funding round last week.MaSa Partners, Humble Rogue Ventures, and Mark Bakken, a Madison-based entrepreneur and investor, co-led the round, Goods Unite Us says.Launched in 2017, Goods Unite Us aims to increase transparency around corporate money in politics by providing users with information on political con...
Tags: Deals, Startups, Politics, Trends, Tech, E-commerce, Mobile Apps, Vc, Software, Wisconsin, Glassdoor, Political Campaigns, Exabyte, Amy Miller, Brian Potts, National blog main


Report: After a Boffo 2018, VC Deals in Digital Health May Flatten

Investments in digital health startups totaled $8.1 billion in 2018, a record year that marked a 42 percent increase over 2017’s total, according to a report released this week by Rock Health. But the report’s authors say it’s unlikely that venture capital investments in digital health, an area that encompasses the use of software and technology to try to improve care and lower costs, will continue growing at such a brisk pace.“We wouldn’t be surprised to see venture funding for digital health ...
Tags: Apple, Amazon, Deals, Startups, San Francisco, Trends, Tech, Vc, Software, Healthcare, Pwc, Doctor On Demand, National Venture Capital Association, Digital Health, Cb Insights, Healthtech


WI Watchlist: Northwestern Mutual, Epic, Exact Sciences, Propeller

It’s time to catch up on notable headlines from Wisconsin’s innovation community:—Northwestern Mutual, the Milwaukee-based insurance and wealth management services giant, has hired Souheil Badran as chief innovation officer. Badran was previously president of the Americas region for Alipay, the online payments platform operated by Ant Financial, the Alibaba-owned fintech firm.Badran’s new role was previously held by Alexa von Tobel, the well-known fintech entrepreneur who left Northwestern Mutu...
Tags: Deals, Startups, Mobile, Apps, Internet Of Things, New York, Connected Devices, Americas, Trends, Tech, It, Walgreens, Software, Healthcare, Alibaba, Wisconsin


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


Online Tech Expands Cloud, Data Services with Neverfail Acquisition

Online Tech, the Ann Arbor, MI-based provider of cloud services, beefed up its capabilities last month when it acquired the infrastructure-as-a-service and data protection businesses of Neverfail, an IT company located in Austin, TX. The terms of the deal were not disclosed.Online Tech CEO Brad Cheedle says his company offers managed services around cloud computing. The company’s service include assessing if a customer is cloud-ready or migrating their data to the cloud, Cheedle says. “Companie...
Tags: Deals, Startups, Entrepreneurship, Cloud Computing, Trends, Tech, It, Software, Austin, Innovation, Data Protection, Detroit, Infrastructure As A Service, Ann Arbor, National blog main, Texas blog main


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


Big Deals, Life Sciences Push U.S. VC in 2018 to Dot-Com Boom Levels

Venture capital investments rose in 2018 to levels not seen since the heady days of 2000, the last year U.S. startups collectively took in more than $100 billion.That’s according to PitchBook and the National Venture Capital Association’s Venture Monitor report, released this week, which tallied nearly 9,000 deals made last year, through which venture investors sunk $130.9 billion into companies. That was about 500 fewer deals than in the year prior, but the total amount invested increased by $...
Tags: Deals, Startups, Lyft, Uber, Entrepreneurship, Funding, Trends, Vc, Software, Pwc, Venture Capital, Angel, National, WeWork, Magic Leap, Biotech


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


Tetra Inks Deal with Shionogi to Support Fragile X, Alzheimer’s R&D

The lead drug of Tetra Discovery Partners is already in mid-stage clinical studies as a treatment for the rare Fragile X Syndrome. But the Grand Rapids, MI, biotech says its drug could also treat a disorder affecting far more people: Alzheimer’s disease. The startup has reached across the Pacific Ocean to land the cash for an Alzheimer’s clinical trial.Just before the holiday break, Tetra  announced a partnership with Japanese pharmaceutical company Shionogi for the clinical development and com...
Tags: Deals, Startups, Drugs, Entrepreneurship, Trends, Alzheimer's Disease, Innovation, Biotech, Detroit, Pacific Ocean, Clinical Trials, Eli Lilly, Japan Taiwan, Tetra Discovery Partners, Mark Gurney, TETRA


Microsoft, Kroger Advance Grocery Tech to Fend Off Amazon

From the cloud on down to the floors of supermarkets, the rivalry between Microsoft and Amazon spans many sectors in software, gadgets, and increasingly, retail.The Seattle-area tech giants are battling—both with one another, and other competitors—to further digitize grocery shopping. The latest salvo came on Monday from Microsoft (NASDAQ: MSFT), which announced new details of its partnership with Kroger (NYSE: KR), one of the leading grocery store chains in the U.S. The Cincinnati-based grocer...
Tags: Amazon, Deals, Microsoft, Whole Foods, Cloud Computing, Trends, Tech, Amazon Prime, Supermarkets, E-commerce, Software, Grocery Stores, Retail, Seattle, Cincinnati, Kroger


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


Eli Lilly Makes an $8B Cancer Genetics Bet with Loxo Acquisition

[Updated 1/7/19, 11 a.m. ET. See below.] Eli Lilly is set to acquire Loxo Oncology for approximately $8 billion—a deal that brings to the Indianapolis pharmaceutical giant a class of drugs that treat cancers with particular genetic signatures.Under the agreement announced Monday, Lilly (NYSE: LLY) will pay $235 cash per share of Loxo (NASDAQ: LOXO), which is a 68 percent premium to the Friday closing price of the Stamford, CT, cancer drug developer. Following the news of the deal, shares of Lox...
Tags: Deals, Drugs, Cancer, Trends, Indiana, Indianapolis, Mergers and Acquisitions, Fda, GlaxoSmithKline, Biotech, Life Sciences, Bayer, Clinical Trials, Celgene, American Society of Clinical Oncology, Stamford


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


Seattle Startup Funding News: Immusoft, TurboPatent, VYRTY & More

Catch up on funding news in the Seattle area’s early-stage business ecosystem from late December and early January:—Immusoft, which is developing technology to genetically reprogram patients’ B cells outside the body to produce therapeutic proteins, said it raised $20 million from investors. The Seattle-based company said a mix of new investors and return backers participated in the Series B round, including Alexandria Venture Investments, Breakout Ventures, DEFTA Partners, RBV Capital, and Mes...
Tags: Deals, Startups, Trends, Tech, Paypal, IP, Vc, Epic, Nvidia, Patents, Uspto, Seattle, Digital Health, Electronic Health Records, Boston Scientific, Alexandria Venture Investments



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