Goldman Sachs has agreed to acquire Industry Ventures, a 25-year-old, San Francisco-based investment firm with $7 billion in assets under management, CNBC was first to report on Monday. The deal underscores the growing importance of secondary markets and buyouts as traditional venture exits remain sluggish. The investment bank is paying $665 million in cash and […]
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Amid the turbulence of the wider global economy in recent years, the pharmaceuticals industry is weathering its own storms. The rising cost of raw materials and supply chain disruptions are squeezing margins as pharma companies face intense pressure—including from countries like the US—to control drug costs. At the same time, a wave of expiring patents threatens around $300 billion in potential lost sales by 2030. As companies lose the exclusive right to sell the drugs they have developed, competitors can enter the market with generic and biosimilar lower-cost alternatives, leading to a sharp decline in branded drug sales—a “patent cliff.” Simultaneously, the cost of bringing new drugs to market is climbing. McKinsey estimates cost per launch is growing 8% each year, reaching $4 billion in 2022. 

In clinics and health-care facilities, norms and expectations are evolving, too. Patients and health-care providers are seeking more personalized services, leading to greater demand for precision drugs and targeted therapies. While proving effective for patients, the complexity of formulating and producing these drugs makes them expensive and restricts their sale to a smaller customer base.

The need for personalization extends to sales and marketing operations too as pharma companies are increasingly needing to compete for the attention of health-care professionals (HCPs). Estimates suggest that biopharmas were able to reach 45% of HCPs in 2024, down from 60% in 2022. Personalization, real-time communication channels, and relevant content offer a way of building trust and reaching HCPs in an increasingly competitive market. But with ever-growing volumes of content requiring medical, legal, and regulatory (MLR) review, companies are struggling to keep up, leading to potential delays and missed opportunities. 

Download the report.

This content was produced by Insights, the custom content arm of MIT Technology Review. It was not written by MIT Technology Review’s editorial staff. It was researched, designed, and written by human writers, editors, analysts, and illustrators. AI tools that may have been used were limited to secondary production processes that passed thorough human review.

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This is today’s edition of The Download, our weekday newsletter that provides a daily dose of what’s going on in the world of technology.

An Earthling’s guide to planet hunting

The pendant on Rebecca Jensen-Clem’s necklace is composed of 36 silver hexagons entwined in a honeycomb mosaic. At the Keck Observatory, in Hawaii, just as many segments make up a mirror that spans 33 feet, reflecting images of uncharted worlds for her to study.

Jensen-Clem, an astronomer at the University of California, Santa Cruz, works with the Keck Observatory to try to detect new planets without leaving our own. It’s a pursuit that faces a vast array of obstacles, for example wind, and fluctuations in atmospheric density and temperature. 

At her lab among the redwoods, Jensen-Clem and her students experiment with new technologies and software to help overcome the challenges, and see into space more clearly. Read more about her and her work

—Jenna Ahart

This story is from the forthcoming print issue of MIT Technology Review, which is all about the body. If you’re not already a subscriber, sign up now to receive issues as soon as they land.

2025 climate tech companies to watch: Ather Energy and its premium e-scooters


While sales of Tesla or BYD cars drove electric vehicle adoption elsewhere in the world, two-wheelers have led the green energy transition in India.

As one of the earliest “pure play” e-scooter makers, Ather Energy has helped drive micromobility EV penetration throughout India and boosted the shift away from carbon-emitting vehicles. Read the full story.


—Nilesh Christopher

Ather Energy is one of our 10 climate tech companies to watch—our annual list of some of the most promising climate tech firms on the planet. Check out the rest of the list here.

The must-reads

I’ve combed the internet to find you today’s most fun/important/scary/fascinating stories about technology.

1 The Trump administration has laid off thousands of federal health workers
It’s blaming the government shutdown—but labor unions are suing. (Reuters $)
The firings will decimate parts of the CDC that work on disease surveillance. (STAT)

2 AI videos of dead celebrities are upsetting their families
OpenAI is coming under mounting pressure to restrict what its video generator Sora 2 can create. (WP $)
Sora was downloaded over a million times in less than five days—a rate even faster than ChatGPT. (BBC)

3 The Dutch government has taken control of a Chinese-owned chipmaker
The move comes after Beijing tightened restrictions on the export of rare earth elements, which could hurt Europe’s car industry. (CNBC)

4 Why some developers reject AI coding tools
Even at their best, they introduce bugs into the code base that can be tricky to spot. (The Information $)
The second wave of AI coding is here. (MIT Technology Review)

5 Police are begging teens to stop pulling the AI homeless man prank
Kids are using AI to create images of a disheveled person in their home, then sending that to their parents. (The Verge)

6 How Elon Musk’s embrace of Trump continues to hurt Tesla
The result is that his cars are now more expensive and less desirable. (The Atlantic $)
China might force Tesla to redesign its door handles. (Wired $)
How did China come to dominate the world of electric cars? (MIT Technology Review

7 What happened after schools in Australia banned phones?
Both students and staff say the impact has been overwhelmingly positive. (The Guardian)

8 AI is fantastic at detecting small earthquakes 
But the really big prize is seeing if it can help with predicting them, too. (Ars Technica)
What we can learn from Japan’s “megaquake” preparations. (MIT Technology Review)

9 Climate change is creating new hybrid species
The “grue jay” is half-blue jay, half-green jay. It’s also a sign of the times we live in. (Nautilus)
How a breakthrough gene-editing tool will help the world cope with climate change. (MIT Technology Review)

10 How people gamify Hinge to get the dates they want 
It puts people’s most promising matches behind a paywall—but they’re finding workarounds. (The Cut $)
There’s now a term for daters who use AI to boost their appeal : chatfishers. (The Guardian)

Quote of the day

“It’s as emotionally devastating as it is dangerous to the American public.”

—An employee at the Centers for Disease Control and Prevention tells STAT about the impact of the Trump administration’s decision to carry out mass layoffs at the agency. 

One more thing

gloved hands insert a test strip into a tube
GETTY IMAGES

How the federal government is tracking changes in the supply of street drugs

In 2021, the Maryland Department of Health and the state police were confronting a crisis: Fatal drug overdoses in the state were at an all-time high, and authorities didn’t know why.

Seeking answers, Maryland officials turned to scientists at the National Institute of Standards and Technology, the national metrology institute for the United States, which defines and maintains standards of measurement essential to a wide range of industrial sectors and health and security applications.

There, a research chemist named Ed Sisco and his team had developed methods for detecting trace amounts of drugs, explosives, and other dangerous materials—techniques that could protect law enforcement officials and others who had to collect these samples. And a pilot uncovered new, critical information almost immediately. Read the full story.

—Adam Bluestein

We can still have nice things

A place for comfort, fun and distraction to brighten up your day. (Got any ideas? Drop me a line or skeet ’em at me.)

+ This spicy tea is exactly what you need when you’re under the weather. 
+ Just a man, jamming with his cat. 
+ Empathy is not a fixed trait—you can grow it. Here’s how.
+ There’s something very soothing about João Bernardino’s photos of Portugal. 

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The pendant on Rebecca Jensen-Clem’s necklace is only about an inch wide, composed of 36 silver hexagons entwined in a honeycomb mosaic. At the Keck Observatory, in Hawaii, just as many segments make up a mirror that spans 33 feet, reflecting images of uncharted worlds for her to study. 

Jensen-Clem, an astronomer at the University of California, Santa Cruz, works with the Keck Observatory to figure out how to detect new planets without leaving our own. Typically, this pursuit faces an array of obstacles: Wind, fluctuations in atmospheric density and temperature, or even a misaligned telescope mirror can create a glare from a star’s light that obscures the view of what’s around it, rendering any planets orbiting the star effectively invisible. And what light Earth’s atmosphere doesn’t obscure, it absorbs. That’s why researchers who study these distant worlds often work with space telescopes that circumvent Earth’s pesky atmosphere entirely, such as the $10 billion James Webb Space Telescope. 

But there’s another way over these hurdles. At her lab among the redwoods, Jensen-Clem and her students experiment with new technologies and software to help Keck’s primary honeycomb mirror and its smaller, “deformable” mirror see more clearly. Using measurements from atmospheric sensors, deformable mirrors are designed to adjust shape rapidly, so they can correct for distortions caused by Earth’s atmosphere on the fly. 

This general imaging technique, called adaptive optics, has been common practice since the 1990s. But Jensen-Clem is looking to level up the game with extreme adaptive optics technologies, which are aimed to create the highest image quality over a small field of view. Her group, in particular, does so by tackling issues involving wind or the primary mirror itself. The goal is to focus starlight so precisely that a planet can be visible even if its host star is a million to a billion times brighter.

In April, she and her former collaborator Maaike van Kooten were named co-recipients of the Breakthrough Prize Foundation’s New Horizons in Physics Prize. The prize announcement says they earned this early-career research award for their potential “to enable the direct detection of the smallest exo­planets” through a repertoire of methods the two women have spent their careers developing. 

In July, Jensen-Clem was also announced as a member of a new committee for the Habitable Worlds Observatory, a concept for a NASA space telescope that would spend its career on the prowl for signs of life in the universe. She’s tasked with defining the mission’s scientific goals by the end of the decade.

The Keck Observatory’s 10-meter primary mirror features a honeycomb structure with 36 individual mirror segments.
The Keck Observatory’s 10-meter primary mirror features a honeycomb structure with 36 individual mirror segments.
ETHAN TWEEDIE

“In adaptive optics, we spend a lot of time on simulations, or in the lab,” Jensen-Clem says. “It’s been a long road to see that I’ve actually made things better at the observatory in the past few years.”

Jensen-Clem has long appreciated astronomy for its more mind-bending qualities. In seventh grade, she became fascinated by how time slows down near a black hole when her dad, an aerospace engineer, explained that concept to her. After starting her bachelor’s degree at MIT in 2008, she became taken with how a distant star can seem to disappear—either suddenly winking out or gently fading away, depending on the kind of object that passes in front of it. “It wasn’t quite exoplanet science, but there was a lot of overlap,” she says.

“If you just look up at the night sky and see stars twinkling, it’s happening fast. So we have to go fast too.”

During this time, Jensen-Clem began sowing the seeds for one of her prize-winning methods after her teaching assistant recommended that she apply for an internship at NASA’s Jet Propulsion Laboratory. There, she worked on a setup that could perfect the orientation of a large mirror. Such mirrors are more difficult to realign than the smaller, deformable ones, whose shape-changing segments cater to Earth’s fluctuating atmosphere.

“At the time, we were saying, ‘Oh, wouldn’t it be really cool to install one of these at Keck Observatory?’” Jensen-Clem says. The idea stuck around. She even wrote about it in a fellowship application when she was gearing up to start her graduate work at Caltech. And after years of touch-and-go development, Jensen-Clem succeeded in installing the system—which uses a technology called a Zernike wavefront sensor—on Keck’s primary mirror about a year ago. “My work as a college intern is finally done,” she says. 

The system, which is currently used for occasional recalibrations rather than continuous adjustments, includes a special kind of glass plate that bends the light rays from the mirror to reveal a specific pattern. The detector can pick up a hairbreadth misalignment in that picture: If one hexagon is pushed too far back or forward, its brightness changes. Even the tiniest misalignment is important to correct, because “when you’re studying a faint object, suddenly you’re much more susceptible to little mistakes,” Jensen-Clem says.

She has also been working to perfect the craft of molding Keck’s deformable mirror. This instrument, which reflects light that’s been rerouted from the primary mirror, is much smaller—only six inches wide—and is designed to reposition as often as 2,000 times a second to combat atmospheric turbulence and create the clearest picture possible. “If you just look up at the night sky and see stars twinkling, it’s happening fast. So we have to go fast too,” Jensen-Clem says. 

Even at this rapid rate of readjustment, there’s still a lag. The deformable mirror is usually about one millisecond behind the actual outdoor conditions at any given time. “When the [adaptive optics] system can’t keep up, then you aren’t going to get the best resolution,” says van Kooten, Jensen-Clem’s former collaborator, who is now at the National Research Council Canada. This lag has proved especially troublesome on windy nights. 

Jensen-Clem thought it was an unsolvable problem. “The reason we have that delay is because we need to run computations and then move the deformable mirror,” she says. “You’re never going to do those things instantaneously.”

But while she was still a postdoc at UC Berkeley, she came across a paper that posited a solution. Its authors proposed that using previous measurements and simple algebra to predict how the atmosphere will change, rather than trying to keep up with it in real time, would yield better results. She wasn’t able to test the idea at the time, but coming to UCSC and working with Keck presented the perfect opportunity. 

Around this time, Jensen-Clem invited van Kooten to join her team at UCSC as a postdoc because of their shared interest in the predictive software. “I didn’t have a place to live at first, so she put me up in her guest room,” van Kooten says. “She’s just so supportive at every level.”

After creating experimental software to try out at Keck, the team compared the predictive version with the more standard adaptive optics, examining how well each imaged an exoplanet without its drowning in starlight. They found that the predictive software could image even faint exoplanets two to three times more clearly. The results, which Jensen-Clem published in 2022, were part of what earned her the New Horizons in Physics Prize. 

Thayne Currie, an astronomer at the University of Texas, San Antonio, says that these new techniques will become especially vital as researchers build bigger and bigger ground-based facilities to capture images of exoplanets—including upcoming projects such as the Extremely Large Telescope at the European Southern Observatory and the Giant Magellan Telescope in Chile. “There’s an incredible amount that we’re learning about the universe, and it is really driven by technology advances that are very, very new,” Currie says. “Dr. Jensen-Clem’s work is an example of that kind of innovation.”

In May, one of Jensen-Clem’s graduate students went back to Hawaii to reinstall the predictive software at Keck. This time, the program isn’t just a trial run; it’s there to stay. The new software has shown it can refocus artificial starlight. Next, it will have to prove it can handle the real thing. 

And in about a year, Jensen-Clem and her students and colleagues will brace themselves for a flood of observations from the European Space Agency’s Gaia mission, which recently finished measuring the motion, temperature, and composition of billions of stars over more than a decade. 

When the project releases its next set of data—slated for December 2026—Jensen-Clem’s team aims to hunt for new exoplanetary systems using clues like the wobbles in a star’s motion caused by the gravitational tugs of planets orbiting around it. Once a system has been identified, exoplanet photographers will then be able to shoot the hidden planets using a new instrument at Keck that can reveal more about their atmospheres and temperatures. 

There will be a mountain of data to sort through, and an even steeper supply of starlight to refocus. Thankfully, Jensen-Clem has spent more than a decade refining just the techniques she’ll need: “This time next year,” she says, “we’ll be racing to throw all our adaptive optics tricks at these systems and detect as many of these objects as possible.”

Jenna Ahart is a science journalist specializing in the physical sciences. 

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