In the latest sign that e-commerce is alive and well in NYC, office-products e-tailer Poppin announced that it has raised $6 million in a Series A funding round. The funding was led by Shasta Ventures, with participation from First Round Capital and a group of angel investors. Poppin, which is still in beta mode, seeks … Continue reading “Poppin Pulls in $6M for Office-Products Site”
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.
Satori Cultivates Prolific Herb for Promising Alzheimer’s Weapon
Alzheimer’s drug developer Satori Pharmaceuticals raised $15 million last week, bringing its total venture capital raised to $37 million—an impressive haul, considering the Cambridge, MA-based company doesn’t expect to begin human testing of its lead compound until early 2013. But what may be even more notable is that Satori’s investors are betting on an entirely … Continue reading “Satori Cultivates Prolific Herb for Promising Alzheimer’s Weapon”
Truveris Adds $10M in Oversubscribed Series B
New York-based Truveris said today it has raised $10 million in funding from New Leaf Venture Partners, Tribeca Venture Partners, New Atlantic Ventures, and First Round Capital. The company, which makes a software-as-service platform for health insurers, previously raised $3.8 million in a Series A round a year ago. Truveris’ products allow health insurers and … Continue reading “Truveris Adds $10M in Oversubscribed Series B”
Transparency Launches as Linux of Drug Development
When Tomasz Sablinski was working in pharmaceutical R&D, he was often frustrated by the demand for secrecy in the clinical trials process—a misdirected effort, he says, to keep competitors in the dark about what drug companies were up to. “The price you pay when you hide what you’re doing is you only get feedback from … Continue reading “Transparency Launches as Linux of Drug Development”
MicroCHIPS Shows Promise of Bone Drug Implant in First Human Trial
Waltham, MA-based MicroCHIPS announced today that its lead product—an implantable, wireless, chip-based device that delivers a drug to treat the bone disease osteoporosis—performed well in its first human trial. The study, published in the online edition of the journal Science Translational Medicine, showed that post-menopausal women who received daily doses of the popular drug teriparatide … Continue reading “MicroCHIPS Shows Promise of Bone Drug Implant in First Human Trial”
On-Q-ity Raises $5M, Names GSK Vet as CEO
Today Waltham, MA-based diagnostics maker On-Q-ity announced it has raised $5 million in a Series B funding round and named Michael Stocum president and CEO. Stocum, who is replacing On-Q-ity founder Mara Aspinall, is the president and founder of consulting firm Personalized Medicine Partners, based in Research Triangle Park, NC, and previously worked in research and … Continue reading “On-Q-ity Raises $5M, Names GSK Vet as CEO”
Hydra Makes Progress in Pain With First Trial and New Partnership
Two years ago, Cambridge, MA-based Hydra Biosciences generated some buzz when a Series D funding round brought its total venture haul to $69 million and it formed a pact with Cubist Pharmaceuticals to develop its non-narcotic pain drugs. Now the company’s efforts are starting to bear fruit, with two milestones reached since the start of … Continue reading “Hydra Makes Progress in Pain With First Trial and New Partnership”
Biogen Buys Stromedix for $75M, Regaining Fibrosis Drug
Before Michael Gilman founded Cambridge, MA-based Stromedix in 2007, he headed up Biogen Idec’s research organization for five years. So today marks a reunion of sorts, with Biogen (NASDAQ: [[ticker:BIIB]]) announcing that it will buy Stromedix—which is working on treatments for fibrosis and organ failure—for $75 million. The deal also includes potential milestone payments of up … Continue reading “Biogen Buys Stromedix for $75M, Regaining Fibrosis Drug”
Intellect Embraces Wide-Ranging Approach to Fighting Brain Diseases
Researchers hunting for treatments for Alzheimer’s disease often jokingly refer to themselves as either “Baptists” or “Tauists.” The Baptists believe a protein called beta amyloid, or BAP is the main culprit because it forms the brain plaques thought to contribute to loss of memory and other hallmarks of Alzheimer’s. Tauists say the tau protein is … Continue reading “Intellect Embraces Wide-Ranging Approach to Fighting Brain Diseases”
Option to Buy: The New Face of Biotech Funding?
When Cambridge, MA-based Warp Drive Bio launched on January 10, the startup was as notable for its financing structure as it was for its technology—maybe more. That’s because part of the $125 million in funding that Warp Drive received came from French pharmaceutical giant Sanofi (NYSE: [[ticker:SNY]]) , which received in return the chance to … Continue reading “Option to Buy: The New Face of Biotech Funding?”
Persistence Pays Off for Synchroneuron Founder
When Barry Fogel first started developing a new treatment 15 years ago, his main goal was to help his own patients. Fogel, a physician trained in both psychiatry and neurology, saw many patients with a movement disorder called tardive dyskinesia (TD). The condition—which can be caused by drugs that block dopamine, such as antipsychotics—is characterized by … Continue reading “Persistence Pays Off for Synchroneuron Founder”
Celgene Pours $15M Into Acetylon, Takes “Observer” Role on Board
New England Patriots owner Robert Kraft may still be smarting from his team’s loss to the New York Giants in the Super Bowl, but at least one of Kraft’s other organizations has some good news to cushion the blow: Boston-based Acetylon said today that it has received a $15 million equity investment from Celgene (NASDAQ: … Continue reading “Celgene Pours $15M Into Acetylon, Takes “Observer” Role on Board”
NYC Consortium Promotes Collaboration Among Scientific Researchers
New York is home to several organizations that are uniting the city’s disparate academic institutions in pursuit of common goals. This month will mark the opening of the New York Genome Center, an effort among 11 colleges to collaborate on genomics research. In November, the New York eHealth Collaborative held its first conference, which was … Continue reading “NYC Consortium Promotes Collaboration Among Scientific Researchers”
Life Sciences VC Investing Up in Dollar Value, Down in Deal Volume
At first glance, a report released last week by PricewaterhouseCoopers and the National Venture Capital Association seems to portend rich times for life sciences startups. Biotech companies raised $4.7 billion in 2011—more than any other sector except for software and enough to help make last year one of the top three years for venture fundraising … Continue reading “Life Sciences VC Investing Up in Dollar Value, Down in Deal Volume”
Radius Health Seeks $86M IPO
Cambridge, MA-based Radius Health, which is on a quest to enter the multibillion-dollar market for osteoporosis treatments, said today it has filed to go public. The company hopes to raise $86 million in the proposed offering. The IPO will be underwritten by UBS Investment Bank and Leerink Swann, and co-managed by Cowen and Company and … Continue reading “Radius Health Seeks $86M IPO”
FDA vs. Drug Ads: Cut the Kids and Dogs, Spell Out Side Effects
If you’ve turned on your TV anytime in the last, oh, decade or so, you’ve no doubt been bombarded by ads imploring you to “ask your doctor” about Drug X. And you’re well familiar with the routine: You get treated to happy images of folks dancing, perhaps, or walking their dogs in pretty green meadows, … Continue reading “FDA vs. Drug Ads: Cut the Kids and Dogs, Spell Out Side Effects”
Xconomist of the Week: Gilt Founders Say Friends Can Work Together
At Xconomy’s event yesterday, New York’s Venture Emergence, members of Gilt Groupe’s founding team fascinated a standing-room-only audience with the tale of how, in just four years, they grew from a scrappy startup to one of the most successful e-commerce sites on the Web. Co-founders Alexandra Wilkis Wilson, who is one of our Xconomists, and … Continue reading “Xconomist of the Week: Gilt Founders Say Friends Can Work Together”
See You at New York’s Venture Emergence Today
We’re just a few hours away from the start of Xconomy Forum: New York’s Venture Emergence. But there’s still plenty of time (relatively speaking) to get your tickets. We have nine left and up for grabs, which you can get by clicking here. We have a great lineup of speakers planned, including Fred Wilson, founder … Continue reading “See You at New York’s Venture Emergence Today”
Dendreon Names John Johnson CEO After Volatile Year
Seattle-based Dendreon Corp. (NASDAQ: [[ticker:DNDN]]) said today it has named John Johnson to the position of president and CEO, succeeding longtime CEO Mitchell Gold. Johnson was previously the CEO of East Brunswick, NJ-based Savient Pharmaceuticals (NASDAQ: [[ticker:SVNT]]). The appointment comes after a difficult run for Dendreon. In 2010, the company won approval for sipuleucel-T (Provenge), the … Continue reading “Dendreon Names John Johnson CEO After Volatile Year”
Five Questions for Kemp on Raising VC as a Mature Company
When Long Island, NY-based Kemp Technologies revealed on its blog on January 24 that it had raised $16 million in venture capital, it might have been easy to overlook the funding as just another sign of the latest tech boom. But this was no ordinary funding: Kemp is an 11-year-old company with revenues and profits … Continue reading “Five Questions for Kemp on Raising VC as a Mature Company”
FDA Gives Thumbs-Up to Skin Cancer Drug from Genentech and Curis
South San Francisco-based Genentech said today that a cancer drug it developed with Curis (NASDAQ: [[ticker:CRIS]]), which is based in Lexington, MA, was approved by the FDA to treat basal cell carcinoma, a common form of skin cancer. The drug, called vismodegib (Erivedge), will be prescribed to patients with carcinomas that have spread to other … Continue reading “FDA Gives Thumbs-Up to Skin Cancer Drug from Genentech and Curis”
New England’s Rising Biotech CEOs to Gather at April 4 Xconomy Event
The life sciences industry is booming in the Boston area. Witness some of our headlines just over the past few weeks: Flagship Ventures closed a $270 million fund to invest in new biotech companies; startups RaNA and Warp Drive Bio raised significant VC rounds; pharma giant Merck led a $10 million financing of diagnostics firm … Continue reading “New England’s Rising Biotech CEOs to Gather at April 4 Xconomy Event”
Celgene Buys Avila for $350M, Gaining Promising “Covalent” Drugs
[Updated 1/26/12 8:30 am. See below.] When Avila Therapeutics’ CEO Katrine Bosley spoke with Xconomy in December, she predicted the oncology world would show “a lot of excitement” for drugs that inhibit an enzyme called Bruton’s tyrosine kinase (Btk)—and in particular for Avila’s experimental compound in that category, AVL-292. Her words were prescient: Today Summit, NJ-based … Continue reading “Celgene Buys Avila for $350M, Gaining Promising “Covalent” Drugs”
Family Affair: Courtagen Applies Management DNA to Genomics Startup
Woburn, MA-based Courtagen Life Sciences’ acquisition of Medicinal Genomics, announced January 18, is less notable for the technologies that are being merged than for the people who are coming together on the management team. Courtagen’s CEO is Brian McKernan, who co-founded the company in 2009 with his brother, Brendan, who is the startup’s president. Medicinal … Continue reading “Family Affair: Courtagen Applies Management DNA to Genomics Startup”
NY Angels Pledge 50 Tickets for Xconomy’s Feb. 1 Venture Forum
We’re just a week away from Xconomy’s first big New York City event, Xconomy Forum: New York’s Venture Emergence. And the New York Angels have stepped up to sponsor admissions for 50 NYC startups. Most of these free tickets will be distributed through the city’s startup incubators, but we have 10 to hand out ourselves … Continue reading “NY Angels Pledge 50 Tickets for Xconomy’s Feb. 1 Venture Forum”
Report: Gilt Layoff Rumors Confirmed, Two Top Execs Depart
Even the hottest companies suffer growing pains, as evidenced by the recent layoffs at Gilt Groupe, the flash-sales site that raised a remarkable $138 million in a Series E financing earlier this year and later bought troubled daily-deals site BuyWithMe. After weeks of rumors, Gilt’s CEO Kevin Ryan told AllThingsD that Gilt has cut 10 percent of … Continue reading “Report: Gilt Layoff Rumors Confirmed, Two Top Execs Depart”
Q&A: What DFJ Gotham Sees in E-Commerce Plays Like Moms’ Site Totsy
When New York-based e-commerce site Totsy raised a $5 million Series A in late 2010, the startup gained the expertise of two of New York’s best-known venture capital groups: Rho Ventures and DFJ Gotham Ventures, which led the round. Since then, the site—which holds limited time “flash sales” of merchandise for parents and children—has grown … Continue reading “Q&A: What DFJ Gotham Sees in E-Commerce Plays Like Moms’ Site Totsy”
A Good News-Bad News Night for Bristol’s Diabetes and Hepatitis Drugs
After the stock market closed last night, New York-based Bristol-Myers Squibb (NYSE: [[ticker:BMY]]) announced that a cocktail containing two of its experimental drugs to treat hepatitis C obliterated the virus in some patients in a Phase 2 study. The results were so compelling the company used the “C” word in a press release, declaring, “This … Continue reading “A Good News-Bad News Night for Bristol’s Diabetes and Hepatitis Drugs”
Five Questions on Tech in NYC for North Bridge VC Dayna Grayson
Dayna Grayson, principal at North Bridge Venture Partners in Waltham, MA, has been spending a lot of time in New York City of late. North Bridge wants to participate in the Big Apple’s technology renaissance, so Grayson has been spending one to two days a week scouting for investment opportunities. North Bridge’s New York investments … Continue reading “Five Questions on Tech in NYC for North Bridge VC Dayna Grayson”
RaNA Raises $20.7M From Atlas, SR One, Monsanto, for RNA-Based Tech
Generations of high school kids have been taught that only about 3 percent of the human genome is actually useful—meaning it contains genes that code proteins—and the rest is “junk DNA.” Cambridge, MA-based RaNA Therapeutics was founded on the idea that the so-called junk is actually gold, because it contains a type of RNA that … Continue reading “RaNA Raises $20.7M From Atlas, SR One, Monsanto, for RNA-Based Tech”
Genentech Pours $95M Into Constellation’s Drug Platform
Cambridge, MA-based Constellation Pharmaceuticals is announcing today that it has formed a major partnership with Roche’s Genentech unit, based in South San Francisco, to develop treatments for cancer and other diseases. The deal is worth $95 million to Constellation in the form of an up-front payment and research support over the next three years. Constellation—which … Continue reading “Genentech Pours $95M Into Constellation’s Drug Platform”
Social TV Startup GetGlue Plots Expansion With $12M in New Funding
Tech entrepreneur Alex Iskold has always been a huge entertainment fan, especially when it comes to his favorite TV shows, but a few years back he was frustrated by what he saw as a major void in social media. “Even though I was on Facebook and Twitter, it was hard for me to find out … Continue reading “Social TV Startup GetGlue Plots Expansion With $12M in New Funding”
Flagship Closes New $270M Fund For Healthcare and Cleantech Ventures
Cambridge, MA-based Flagship Ventures announced today that it has closed its fourth fund, raising $270 million—significantly more than the $250 million the firm initially intended to secure. “We could have raised even more, but we decided to cut it off and get on with forming a portfolio,” says Noubar Afeyan, CEO and managing partner of … Continue reading “Flagship Closes New $270M Fund For Healthcare and Cleantech Ventures”
Amicus Counts on “Chaperone” Tech to Enhance Rare Disease Treatments
On Thursday, Amicus Therapeutics CEO John Crowley will join the long procession of biotech executives making presentations at one of the industry’s most important gatherings, the JP Morgan Healthcare Conference in San Francisco. But Crowley does have one claim to fame that makes him stand out from the crowd: He’s the only biotech CEO whose … Continue reading “Amicus Counts on “Chaperone” Tech to Enhance Rare Disease Treatments”
BuzzFeed Nabs $15.5M for Viral News Site
New York-based BuzzFeed announced that it has brought in $15.5 million to build its increasingly popular social news publishing platform. New Enterprise Associates (NEA) led the round, with participation from Lerer Ventures, Hearst Media, Softbank, and RRE. BuzzFeed, founded in 2008, aggregates popular Web content and posts it under categories with names like “OMG,” “Cute,” … Continue reading “BuzzFeed Nabs $15.5M for Viral News Site”
Foundation Medicine and Sanofi Form Cancer Discovery Pact
Back in May, Xconomy wrote that two-year-old Foundation Medicine was making friends in high places, and today the Cambridge, MA-based startup did it yet again. Foundation announced that it has teamed with French pharmaceutical giant Sanofi (NYSE: [[ticker:SNY]]) to identify genetic biomarkers for oncology drug candidates, and potentially develop companion diagnostics that would help match the … Continue reading “Foundation Medicine and Sanofi Form Cancer Discovery Pact”
Warp Drive Bio Launches With $125M from Third Rock, Greylock, Sanofi
Today a new company called Warp Drive Bio is starting up in Cambridge, MA, with a simple and powerful premise: Mother Nature may be the best source of blockbuster drugs—if only we can find new methods for unlocking her secrets. Warp Drive’s plan is to use genomics technology incubated at Boston-based Third Rock Ventures to … Continue reading “Warp Drive Bio Launches With $125M from Third Rock, Greylock, Sanofi”
New York’s Venture Emergence: The Agenda
The startup scene in New York is red hot, with a plethora of financings in e-commerce, ad technology, and yes, sometimes even biotechnology. The innovators in these cutting-edge industries are helping drive New York commerce in new directions—a major priority of Mayor Michael Bloomberg, who is on a mission to diversify the city’s economy. It is … Continue reading “New York’s Venture Emergence: The Agenda”
NYC Tech Startup Fundings: Maxymiser, Contently, Zeel
The rapidly growing tech startup scene in New York has started 2012 with a funding boom. Here are some of the financings revealed just in the last few days. —Web optimization provider Maxymiser announced January 6 that it has raised a $12 million Series B round from Investor Growth Capital, with participation from existing investor Pentech … Continue reading “NYC Tech Startup Fundings: Maxymiser, Contently, Zeel”
Civitas Charts Positive Data on Inhaled Parkinson’s Drug
Chelsea, MA-based Civitas Therapeutics announced today that its inhaled form of L-dopa—the drug that many Parkinson’s disease patients take to relieve shaking and other debilitating symptoms—performed well in a Phase 1 clinical trial. The trial was designed to test whether the drug, called CVT-301, is safe, and whether delivering it to the lungs gets it … Continue reading “Civitas Charts Positive Data on Inhaled Parkinson’s Drug”
Merck Pours $17M Into Physicians Interactive’s Web Tools for Docs
Marlborough, MA-based Physicians Interactive Holdings announced today that it has formed a deal with Merck Global Health Innovation Fund, a unit of the Whitehouse Station, NJ-based drug giant. Merck (NYSE: [[ticker:MRK]]) has pledged $8.5 million up front and another $8.5 million in milestone payments to Physicians Interactive, which was founded in 2008 and makes a range of … Continue reading “Merck Pours $17M Into Physicians Interactive’s Web Tools for Docs”
CircuLite Attracts Big Support for Tiny Heart-Assist Device
Yesterday Saddle Brook, NJ-based CircuLite announced it received a $950,000 grant to develop a device for patients whose hearts have been weakened by pulmonary arterial hypertension, a rare and potentially fatal disease. The award, which came from the Cardiovascular Medical Research and Education Fund, was the latest vote of confidence in CircuLite’s core technology—a miniscule, … Continue reading “CircuLite Attracts Big Support for Tiny Heart-Assist Device”
Inspiration Bio Founders and Execs Inspired by New Boston Headquarters
When New York hedge fund manager John Taylor co-founded Inspiration Biopharmaceuticals in 2004, his main goal was to help his son, who suffers from the blood-clotting disorder hemophilia. So he and co-founder Scott Martin—a Texan who also has a child with hemophilia—set up a virtual biotech company and began pursuing new treatments for the disease. … Continue reading “Inspiration Bio Founders and Execs Inspired by New Boston Headquarters”
Nurse Designs Staffing Tech for Efficiency-Starved Hospitals
When registered nurse Matthew Browning was working as a hospital supervisor a few years back, he often found himself frustrated by an all-too-common conundrum. Whenever his hospital was short-staffed, the only way he could find nurses willing to put in extra shifts was to call everyone one-by-one—a hassle that was only exacerbated by this country’s … Continue reading “Nurse Designs Staffing Tech for Efficiency-Starved Hospitals”
Merck Leads $10M Funding of HIV Diagnostics Firm Daktari
Cambridge, MA-based Daktari Diagnostics announced in late December that it has raised $10 million in financing from a syndicate of private and venture firms. The funding round was led by Merck Global Health Innovation Fund, a unit of Whitehouse Station, NJ-based Merck (NYSE: [[ticker:MRK]]). Also participating in this funding round were Daktari’s existing investors, Norwich … Continue reading “Merck Leads $10M Funding of HIV Diagnostics Firm Daktari”
Xconomy Storms NYC: Top Ten Topics in the Big Apple in 2011
Ever since Xconomy added New York to its stable of cities on April 1, we have found plenty of companies to write about that are making waves in tech, biotech, and cleantech. We’ve met tech entrepreneurs who’ve caught the fancy of New York’s thriving venture capital scene, and scientists in the bowels of Big Pharma … Continue reading “Xconomy Storms NYC: Top Ten Topics in the Big Apple in 2011”
Acceleron Adds $30M From Partner Celgene and Existing Investors
Cambridge, MA-based Acceleron Pharma announced today that it has raised $30 million in a private financing round. One of the participants in this round was Summit, NJ-based Celgene (NASDAQ: [[ticker:CELG]]), which has a partnership with Acceleron to develop two drugs to treat anemia. The two companies expanded their partnership most recently in August, when Celgene … Continue reading “Acceleron Adds $30M From Partner Celgene and Existing Investors”
Early Pharma Partnership Proves Key to Armgo’s Startup Success
On February 1, Armgo Pharma CEO Sapan Shah will join Aisling Capital’s Dennis Purcell on stage at Xconomy’s first big New York conference to tell the inside story of how Aisling turned a Columbia University discovery into a promising biotech company. No doubt much of the discussion will revolve around a French pharmaceutical company called … Continue reading “Early Pharma Partnership Proves Key to Armgo’s Startup Success”
Excelimmune Adds $12M to Advance Polyclonal Antibodies
Woburn, MA-based Excelimmune announced today that it has raised $12 million from an undisclosed “private” investor. The funding follows close on the heels of a $10.5 million Series B round the company announced in May. Excelimmune is developing “polyclonal” antibodies, which are therapeutic proteins designed to bind to multiple regions of specific disease-causing antigens. The … Continue reading “Excelimmune Adds $12M to Advance Polyclonal Antibodies”
MIT-Born Enumeral Advances Human-Based Method for Hunting Drugs
Geneticist Arthur Tinkelenberg has always been struck by the lack of strategy in scientific research. “Historically it’s been somewhat ad hoc,” he says. “For example, why do we study fruit flies? Because somewhere in the dim past, somebody did something interesting with a fruit fly, and now you have a whole field.” So when Tinkelenberg … Continue reading “MIT-Born Enumeral Advances Human-Based Method for Hunting Drugs”