In late 2009, I wrote a feature story for BusinessWeek that was given the clever and rather blunt headline “Can Roche Leave Genentech Alone?” It was a pressing question at the time. Roche had just laid out $47 billion to acquire the 44 percent of Genentech that it didn’t already own. For years leading up … Continue reading “Genentech, Roche Find New Balance Three Years Post-Merger”
Author: Arlene Weintraub
Arlene is an award-winning journalist specializing in life sciences and technology. She was previously a senior health writer based out of the New York City headquarters of BusinessWeek, where she wrote hundreds of articles that explored both the science and business of health. Her freelance pieces have been published in USA Today, US News & World Report, Technology Review, and other media outlets. Arlene has won awards from the New York Press Club, the Association of Health Care Journalists, the Foundation for Biomedical Research, and the American Society of Business Publication Editors. Her book about the anti-aging industry, Selling the Fountain of Youth, was published by Basic Books in September 2010.
Social Innovation Demo Night
This event is designed to highlight companies that are using technology to make an impact on everything from politics to charity. Host Alexis Ohanian is the co-founder of reddit, which was acquired by Conde Nast in 2006, and the founder of breadpig, as well as an angel investor with Das Kapital Capital. Presenting companies include Charity Bribes, … Continue reading “Social Innovation Demo Night”
The 2012 New York ASCO Checklist
On June 1, cancer scientists and drugmakers will flock to Chicago for the annual meeting of the American Society of Clinical Oncology (ASCO). The gathering is so prominent that many pharmaceutical companies hold off on releasing data from their clinical trials until the conference. This explains why ASCO is as important to Wall Street folks … Continue reading “The 2012 New York ASCO Checklist”
Halo Gathers $1.1M From Patient Groups for Muscular Dystrophy Drug
At first glance, the $1.1 million financing announced by Halo Therapeutics on Tuesday looked like your average case of a biotech startup scraping together enough money to get its early-stage compound into pivotal human trials. But this funding was anything but average. That’s because the money came from 12 nonprofit foundations pursuing a common goal: … Continue reading “Halo Gathers $1.1M From Patient Groups for Muscular Dystrophy Drug”
Ra Pharma Pours $8.6M Into Discovery Tech and New Rare-Disease Drug
Today Ra Pharmaceuticals CEO Doug Treco will make a presentation at a conference in Las Vegas that will cap off the Cambridge, MA-based company’s weeklong unveiling. On May 16, Ra announced it had closed an $8.6 million tranche of its $27 million Series A round. And today Treco will be describing the four-year-old company’s technology … Continue reading “Ra Pharma Pours $8.6M Into Discovery Tech and New Rare-Disease Drug”
Undaunted by Wall Street “Penalty Box,” Keryx Focuses on Kidney Drug
On April 2, shares of New York-based Keryx Pharmaceuticals (NASDAQ: [[ticker:KERX]]) fell a stomach-churning 65 percent to $1.74 after the company announced that a late-stage trial of its colon cancer drug failed. But CEO Ron Bentsur was unfazed. In fact, he was so confident in the company’s other drug candidate—a treatment for kidney dialysis patients—that … Continue reading “Undaunted by Wall Street “Penalty Box,” Keryx Focuses on Kidney Drug”
Xconomist of the Week: Tom Maniatis on Prize4Life and ALS Research
A few years back, molecular geneticist Tom Maniatis was approached by a Harvard Business School student with a heart-wrenching story. The student, Avichai Kremer, then 29, had been diagnosed with amyotrophic lateral sclerosis (ALS), otherwise known as Lou Gehrig’s disease. Kremer had an unusual idea: He wanted to advance ALS research by offering million-dollar prizes … Continue reading “Xconomist of the Week: Tom Maniatis on Prize4Life and ALS Research”
Promedior Moves Fibrosis Pipeline to Boston, Hires Shire Vet as CEO
Biotech firm Promedior announced today that it will be moving its headquarters from Malvern, PA, to Boston, and that it has hired a new CEO, Suzanne Bruhn,who was previously senior vice president for planning and program management for Shire’s Human Genetic Therapies division. Promedior is working on several drugs to treat fibrosis—a type of tissue … Continue reading “Promedior Moves Fibrosis Pipeline to Boston, Hires Shire Vet as CEO”
Lenddo Grabs $8M, Expands Microloan Model to Asia and Latin America
New York-based Lenddo, which uses social media to help middle-class folks in emerging countries secure loans, announced today that it has raised $8 million in a Series A funding round. Investors include Accel Partners, Blumberg Capital, Omidyar Network, iNovia Capital, and Metamorphic Ventures. The one-year-old firm also counts among its supporters angel investors Geoff Judge, David … Continue reading “Lenddo Grabs $8M, Expands Microloan Model to Asia and Latin America”
Five Questions for E&Y’s David DeMarco on the Future of Health IT
In March, global consulting firm Ernst & Young released an annual report for its life sciences clients called “The Third Place: Healthcare Everywhere.” It discusses a range of topics, from apps designed to improve patient adherence to medical treatments, to games that encourage healthy habits. Today Ernst & Young is holding a summit in Princeton, … Continue reading “Five Questions for E&Y’s David DeMarco on the Future of Health IT”
New Tech City: Has NYC Passed Boston in Mobile and Web Innovation?
On Wednesday, New York-based Center for an Urban Future, a policy think tank, released a report surveying the city’s digital startup scene, and its conclusion was rather dramatic: New York has surpassed Boston in tech leadership, the center says. “In 2006, I wouldn’t have put New York anywhere on the map [of leading tech hubs],” … Continue reading “New Tech City: Has NYC Passed Boston in Mobile and Web Innovation?”
NY’s Cancer Research Institute Looks to Boost Cancer Immunotherapy
When the Cancer Research Institute was founded in 1953 in New York, it set out to pursue an idea that was radical at the time—the notion that mobilizing the body’s innate immune mechanisms could be the key to fighting cancer. Since then, the organization has supported students studying cancer immunology, funded academic research, and even … Continue reading “NY’s Cancer Research Institute Looks to Boost Cancer Immunotherapy”
Eleven Biotherapeutics Raises $20M to Advance Dry-Eye Drug
Cambridge, MA-based Eleven Biotherapeutics said today that it has expanded its Series A financing by $20 million, bringing the total raised in the funding round to $45 million. New investor JAFCO joined founding investors Third Rock Ventures and Flagship Ventures in their support of the company, which raised the first part of its Series A … Continue reading “Eleven Biotherapeutics Raises $20M to Advance Dry-Eye Drug”
Retrophin, Headed by Controversial Hedge Fund Chief, Raises $4M
New York-based biotech company Retrophin announced this morning that it has completed a $4 million Series A round led by MSMB Capital, a life sciences hedge fund based in New York. Both MSMB and Retrophin are managed by Martin Shkreli (pictured at right), a 29-year-old finance whiz and biology fanatic who spent several years investing … Continue reading “Retrophin, Headed by Controversial Hedge Fund Chief, Raises $4M”
NIH’s Collins Lauds “Unprecedented” Partnership at NY Bio Confab
Yesterday at the New York Biotechnology Association’s 21st annual meeting, National Institutes of Health director Francis Collins was beamed in by videoconference to a keynote lunch at the Times Square Marriott Marquis. Collins, who was the featured speaker, apologized for his virtual appearance at the event, but he had a good excuse: Just two hours … Continue reading “NIH’s Collins Lauds “Unprecedented” Partnership at NY Bio Confab”
Pfizer Takes on Genzyme With New Gaucher Drug
Last night, just hours after New York drug giant Pfizer (NYSE: [[ticker:PFE]]) reported first-quarter profits that suffered from generic competition on its blockbuster cholesterol drug atorvastatin (Lipitor), the company announced that the FDA approved its new drug to treat Gaucher Disease. It was easy to overlook the news. Pfizer’s net income in the quarter announced … Continue reading “Pfizer Takes on Genzyme With New Gaucher Drug”
Giffen Solutions, Created by Fed-Up Doc, Connects MDs and Patients
Michael Nusbaum rarely thought twice about giving his personal cell phone number to patients after he operated on them. Nusbaum is a bariatric surgeon at New Jersey’s Morristown Medical Center, and he wanted patients to be able to reach him easily by phone or text. But then he found out that sending text messages to … Continue reading “Giffen Solutions, Created by Fed-Up Doc, Connects MDs and Patients”
Mersana Adds $4M For Next-Generation “Armed” Cancer Drugs
Cambridge, MA-based Mersana Therapeutics is working in one of the hottest areas of biotech research—it’s figuring out new ways to attach potent anti-cancer drugs to specialized molecules that deliver the medicine directly to tumors while sparing healthy tissue. Now the company has added $4 million to a previously disclosed debt round that brought in $10 … Continue reading “Mersana Adds $4M For Next-Generation “Armed” Cancer Drugs”
New NYC Accelerator Boosts Health IT Startups
The New York eHealth Collaborative announced yesterday that it has created a new incubator, called the New York Digital Health Accelerator. The program, which is now accepting applications for its first class of 12 startups, will be run by the collaborative, in cooperation with the New York City Investment Fund. The impetus for the new … Continue reading “New NYC Accelerator Boosts Health IT Startups”
Epizyme Gets $90M in Epigenetics Partnership with Celgene
Cambridge, MA-based Epizyme said today that it has formed a strategic partnership with an international subsidiary of Summit, NJ-based Celgene (NASDAQ: [[ticker:CELG]]). The two companies will work together to develop targeted cancer therapies based on Epizyme’s work in epigenetics, an emerging field that involves turning genes on and off without altering the underlying DNA. The … Continue reading “Epizyme Gets $90M in Epigenetics Partnership with Celgene”
N-Gene Digs Up Funds to Boost “Heat Shock” Drug in Diabetes and MD
Drug development is never easy for cash-strapped biotechs, but for those wanting to make new drugs to treat diabetes—where the FDA demands clinical trials that are long and expensive—it can be nearly impossible. New York-based N-Gene Research Laboratories is one of those companies. The scrappy, 15-year-old outfit “has always worked in financial hypoxia,” says CEO … Continue reading “N-Gene Digs Up Funds to Boost “Heat Shock” Drug in Diabetes and MD”
New Data on Genzyme MS Drug Shows Improvement in Disability
One of the most closely watched developments in the quest for new multiple sclerosis treatments is the experimental drug alemtuzumab (Lemtrada) from Cambridge, MA-based Genzyme, a unit of French drug giant Sanofi (NYSE: [[ticker:SNY]]). Last November, Genzyme revealed that in a late-stage trial, the drug reduced relapse rates and the risk of long-term disability, and today, … Continue reading “New Data on Genzyme MS Drug Shows Improvement in Disability”
Small Business Expo
This full-day event will provide entrepreneurs with a host of practical information on marketing, technology, and business operations. Workshops include “How to build your business and succeed online,” “Crowdfunding 101,” and “Your exit strategy.” Register here.
Progress for Pervasis and InVivo: A Boost for Regenerative Efforts?
Last week brought good news for two Cambridge, MA companies pursuing different methods for repairing damaged body parts. Pervasis Therapeutics, which developed a cell-based method for fixing blood vessels, was acquired by Irish drug giant Shire (NASDAQ: [[ticker:SHPGY]]) on April 12. The next day, Cambridge-based InVivo Therapeutics (OTCBB: [[ticker:NVIV]]) said it expected it would soon win … Continue reading “Progress for Pervasis and InVivo: A Boost for Regenerative Efforts?”
Pipeline Fellowship Grooms Female Angel Investors and Entrepreneurs
On March 30, Brittany Haas stepped before a firing line of 10 investors who were considering funding her New York-based startup, Happily Ever Borrowed, a website that rents veils, jewelry and other accessories to brides. Haas was part of a pitch event that couldn’t have been more different from a TechStars demo day—or any other … Continue reading “Pipeline Fellowship Grooms Female Angel Investors and Entrepreneurs”
Five Questions: Acorda CEO Ron Cohen on the Future of Neurology R&D
Hawthorne, NY-based Acorda Therapeutics (NASDAQ: [[ticker:ACOR]]) held its first R&D day for Wall Street analysts in six years today, and when CEO Ron Cohen was asked ‘why now?’ his answer was simple. The company had been focused all those years on getting its multiple sclerosis drug dalfampridine (Ampyra) approved, Cohen says. “Until all of that was done, … Continue reading “Five Questions: Acorda CEO Ron Cohen on the Future of Neurology R&D”
Enzyme Maker Alcresta Nabs $10M from Third Rock, Bessemer, Frazier
The team behind Newton, MA-based Allena Pharmaceuticals, which started up six months ago to develop enzyme-based drugs, is announcing today that they’ve formed a second enzyme company, Alcresta, to turn novel enzymes into nutritional supplements. That team—Third Rock Ventures, Bessemer Venture Partners, and Frazier Healthcare Ventures—put $15 million into Allena, and is pouring another $10 … Continue reading “Enzyme Maker Alcresta Nabs $10M from Third Rock, Bessemer, Frazier”
Provid Pharma Leans on MS Society’s Venture Fund to Boost Lead Drug
North Brunswick, NJ-based Provid Pharmaceuticals could be a case study in biotech bootstrapping. The company, founded in 2001, had been subsisting largely on angel funding, grants from the National Institutes of Health and the Small Business Innovation Research arm of the U.S. government, and an early collaboration with San Diego-based Sequenom (NASDAQ: [[ticker:SQNM]]). Then, in … Continue reading “Provid Pharma Leans on MS Society’s Venture Fund to Boost Lead Drug”
Core Innovation Capital’s $45M Fund Seeks Tech for the “Underbanked”
In 2007, a not-for-profit Chicago outfit called the Center for Financial Services Innovation launched a private equity fund to support tech startups with innovative financial products. The fund, says its New York-based manager Arjan Schutte, specifically sought out companies serving the “underbanked,” or as he explains it, “consumers who either don’t have a bank, or … Continue reading “Core Innovation Capital’s $45M Fund Seeks Tech for the “Underbanked””
Merck Teams With Flagship to Bankroll Early Biotech Ventures
Cambridge, MA-based Flagship Ventures said today it has formed a partnership with Merck Research Ventures Fund—the $250 million fund the Whitehouse Station, NJ-based drug giant set up last year to foster biotech startups. The two companies will collaborate to find and back new companies that are developing drugs to address unmet medical needs. As part … Continue reading “Merck Teams With Flagship to Bankroll Early Biotech Ventures”
See You Today at New England’s Emerging Biotech Stars***SOLD OUT***
We’re about to get going on this afternoon’s Xconomy Forum: New England’s Emerging Biotech Stars. But you still have a few hours to get your tickets. We have 8 left as of early this morning, which you can grab by clicking here. We have a stellar lineup of speakers planned, including Biogen Idec CEO George … Continue reading “See You Today at New England’s Emerging Biotech Stars***SOLD OUT***”
OvaScience Adds $37M for Fertility Treatments
Boston-based OvaScience announced today that it has raised $37 million in a Series B financing, the proceeds of which it will pour into the development of infertility treatments based on stem cell science. The funding round was led by General Catalyst, with participation from BBT Capital Management Advisors, Cycad Group, Hunt BioVentures, RA Capital and … Continue reading “OvaScience Adds $37M for Fertility Treatments”
Hard-Nosed Hedge Fund Chief Has Soft Spot for Rare-Disease Startup
On March 19, Martin Shkreli posted an article on the investing blog Seeking Alpha urging readers to “short” shares of San Diego-based Cytori (NASDAQ: [[ticker:CYTX]])—essentially telling them they should bet that the company would falter and its share price would drop. Cytori is developing so-called regenerative treatments, using stem cells from fat, for example, to … Continue reading “Hard-Nosed Hedge Fund Chief Has Soft Spot for Rare-Disease Startup”
Blueprint Health Graduates First Class at Demo Day
A new NYC incubator, Blueprint Health, started up in January with a goal of fostering entrepreneurship in an often-overlooked corner of the booming technology sector: health IT. Today the incubator, part of the TechStars network, held its first demo day, which attracted an standing-room-only audience of 500 venture capitalists and health IT professionals. Blueprint Health … Continue reading “Blueprint Health Graduates First Class at Demo Day”
Third Rock’s Mark Levin: ‘Ultra-Super Positive’ on Biotech Innovation
Mark Levin co-founded Boston’s Third Rock Ventures in 2007 with the goal of funding life sciences discoveries through the Valley of Death—when early-stage startups are no longer eligible for federal grants but they haven’t progressed enough to attract the attention of VCs. Third Rock has launched and incubated eight startups, including Foundation Medicine, Warp Drive … Continue reading “Third Rock’s Mark Levin: ‘Ultra-Super Positive’ on Biotech Innovation”
Grant Funding Helps Karyopharm Speed Lead Cancer Drug to Clinic
In January 2011, Natick, MA-based Karyopharm’s 12 employees learned that the Multiple Myeloma Research Foundation would be awarding them $1 million in research funding—a giant sum considering most grants from non-profits are in the low- to mid-six-figure range. “One of the reasons it was such a substantial amount is that the grant program is focused on … Continue reading “Grant Funding Helps Karyopharm Speed Lead Cancer Drug to Clinic”
Freshly Funded Integrate, steered by Skier and NFL Vet, Storms NYC
Ad technology startup Integrate, which offers a platform that helps advertisers manage campaigns across both on- and offline venues, announced today that it has raised $11 million in a Series B funding round. Comcast Ventures and Liberty Global led the round, with participation from Integrate’s original investor, Foundry Group. Integrate, which is headquartered in Denver, … Continue reading “Freshly Funded Integrate, steered by Skier and NFL Vet, Storms NYC”
Ariad and Merck Face Tough FDA Review of Sarcoma Pill
[Updated 3/20/12, 4:30 p.m. See below.] On Friday, investigators at the FDA released a report raising a serious question about a sarcoma drug co-developed by Merck and Ariad Pharmaceuticals that’s now up for approval: Does its modest effect on tumors justify its potentially toxic side effects? This afternoon an advisory panel to the FDA will … Continue reading “Ariad and Merck Face Tough FDA Review of Sarcoma Pill”
Kala Funnels $6.2M Into New Drugs for Eye and Lung Diseases
Mucus may be the butt of many a second grader’s jokes, but it actually plays a vital biological role—protecting our organs from harmful foreign particles by trapping them and shuttling them out of the body. Sometimes, though, mucus itself becomes the problem. In the lung disease cystic fibrosis, for example, super-thick mucus impedes breathing and … Continue reading “Kala Funnels $6.2M Into New Drugs for Eye and Lung Diseases”
Medidata Gains Raves on Wall Street for Drug Development Tools
A molecular biologist and a urologist were sitting at a lab bench at Columbia Presbyterian hospital in New York in the mid-1990s musing about a problem they saw in drug development. It sounds like the beginning of a joke, but in fact it was the genesis of what turned out to be a good business … Continue reading “Medidata Gains Raves on Wall Street for Drug Development Tools”
Genocea CEO Chip Clark to Speak at Xconomy’s April 4 Biotech Forum
In 2010, biotech entrepreneur Chip Clark was looking for a new challenge after the company he co-founded, Vanda Pharmaceuticals in Washington, DC, completed a $200 million licensing deal with Novartis. When he was offered the opportunity to join Cambridge, MA-based vaccine developer Genocea Biosciences, he jumped. “I was acutely sensitive to the notion that the … Continue reading “Genocea CEO Chip Clark to Speak at Xconomy’s April 4 Biotech Forum”
Turntable.fm Signs Pacts With Four Top Music Labels
New York-based Turntable.fm, an online music-sharing site, has signed deals with Universal Music Group, Warner Music Group, EMI Music Group, and Sony, the company announced yesterday at the South by Southwest conference in Austin, Texas. It was a quick coup for the company, which changed its entire business model just one year ago. Turntable.fm was … Continue reading “Turntable.fm Signs Pacts With Four Top Music Labels”
Hello Health Deploys $10M To Expanding Patient-Funded Health Records
When Westfield, NJ-based internist Peter Weigel began thinking about switching from paper charts to electronic medical records, all sorts of tech salesmen appeared in his office with pitches that seemed to good to be true. They told Weigel if he paid them to implement electronic records in his practice, he would be reimbursed under the … Continue reading “Hello Health Deploys $10M To Expanding Patient-Funded Health Records”
New England’s Emerging Biotech Stars: The Agenda
We’re just a month away from our next big biotech event in Boston, New England’s Emerging Biotech Stars. We have a stellar lineup planned for this afternoon event, which will be held April 4 at Biogen Idec in Cambridge, MA. Today we’re rolling out the official agenda for this exciting half-day conference. We’ll hear from … Continue reading “New England’s Emerging Biotech Stars: The Agenda”
4s3, With $20M in Tow, Pursues Route for Delivering Drugs to Muscle
If you ask 4s3 Bioscience CEO Timothy Harris what the name of his Medford, MA startup signifies, you won’t get much of an enthusiastic response. It’s not a play on words or reference to the company’s scientific platform, but rather “it’s just the name we ended up with,” Harris admits. But ask him about the … Continue reading “4s3, With $20M in Tow, Pursues Route for Delivering Drugs to Muscle”
Molecular Health Sets up in NYC With Personalized Med Tools
When executives at medical software developer MolecularHealth were working on a new product for oncologists, they consulted with a cancer center that was grappling with an emerging trend: About 100 patients a year were paying for their own genomes to be sequenced. Jeffrey Marrazzo, chief business officer of MolecularHealth, a Swiss-founded company that recently set … Continue reading “Molecular Health Sets up in NYC With Personalized Med Tools”
Q&A: KeyView’s Holistic Stance on Fostering Health IT Startups
One week after unveiling itself as a new player in the health-investing landscape, New York-based KeyView Partners is releasing today a guide for entrepreneurs who want to succeed in the booming health IT startup space. The report—which is called iHealth Ecosystem and has an accompanying website—identifies six major trends driving change in the health care … Continue reading “Q&A: KeyView’s Holistic Stance on Fostering Health IT Startups”
Ad Tech Boom Continues With $1M Funding of Precision Health
Ever since Xconomy New York launched almost a year ago, we’ve been tracking the incredible rise of advertising technology startups in the city. Now we can add another up-and-comer to the list: New York-based Precision Health Media, which announced Wednesday that it has raised $1 million in a Series B, bringing its total venture haul to … Continue reading “Ad Tech Boom Continues With $1M Funding of Precision Health”
Harvard-Born TremRx Pursues New Vaccine Technology
Boston-based TremRx is coming out of stealth mode today with a study that describes the startup’s method of using immune cells in the skin to mobilize the body’s disease-fighting defenses. The company, founded by Harvard dermatology professor Thomas Kupper, has identified several opportunities to develop vaccines for a range of illnesses, from cancer to viruses … Continue reading “Harvard-Born TremRx Pursues New Vaccine Technology”
KeyView Launches With Plan to Fund Health Startups
A new growth-equity firm, KeyView Partners—headed up by veterans of Ernst & Young, Deloitte & Touche, and Johnson & Johnson—is set to open its doors next month in New York, with a plan to fund medical-technology startups. According to its website, the company’s goal is to “bring together capital, operational expertise, and strategic planning.” KeyView’s … Continue reading “KeyView Launches With Plan to Fund Health Startups”