Some hair-raising news out of Follica this week. The Boston company working on a cure for male and female pattern baldness has emerged with a new scientific paper and early results of a clinical trial. A doctor would use a special device to remove skin from an area of hair loss, and then apply a drug that induces the skin to form new hair follicles. Unfortunately, the details of Follica’s procedure remain as tough to discern as a good toupee.
In other innovation news…
-Aveo Oncology is pinning its hopes on a pair of new clinical trials of its cancer drug. The Cambridge firm is laying off 140 people after an FDA advisory panel all but shot down its bid to treat kidney cancer.
-Our startup of the week isn’t really a startup anymore. Boston-based Brand Networks has raised $68 million from a private equity firm to expand its software for Facebook advertisers. The company had been bootstrapped and has grown to 135 employees.
-Other significant funding rounds this week went to Affirmed Networks, InsightSquared, and Mobiquity.
-And finally, Xconomy is getting ready for our 5th annual XSITE conference, which celebrates “Boston’s Tech Revival.” The event features Akamai CEO Tom Leighton, software guru Miguel de Icaza, Twitter Boston leader Wayne Chang, and a reunion of the famed MIT Blackjack Team. It all takes place June 19th at Babson College.
