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.

NPS Re-Jiggers Glaxo Partnership, Finds Value in Ultra-Orphan Diseases

On August 2, NPS Pharmaceuticals (NASDAQ: [[ticker:NPSP]]) announced that it had updated an 18-year-old licensing agreement with GlaxoSmithKline (NYSE: [[ticker:GSK]]), allowing NPS to regain rights to two experimental treatments. It wasn’t the sort of news likely to induce panting on Wall Street, as Bedminster, NJ-based NPS is developing the compounds to treat orphan diseases—those that … Continue reading “NPS Re-Jiggers Glaxo Partnership, Finds Value in Ultra-Orphan Diseases”

Quirky Adds $16M

Quirky, a website that encourages anyone to be an inventor, has raised $16 million in a Series B. The funding was led by Norwest Venture Partners, with participation from existing investor RRE Ventures. Founder Ben Kaufman told VentureWire the cash would last until 2013, at which point he expects the company will be profitable. Several … Continue reading “Quirky Adds $16M”

Xconomist of the Week: Five Questions About Life Sciences Investing for Dennis Purcell of Aisling Capital

Dennis Purcell is the senior managing partner of New York-based Aisling Capital, one of the top venture capital firms in the life sciences industry, with $1.65 billion under management. In 2009, Aisling closed its third fund, worth $650 million. Aisling Capital’s first fund started up in 2002 with the goal of supporting startups across the … Continue reading “Xconomist of the Week: Five Questions About Life Sciences Investing for Dennis Purcell of Aisling Capital”

New York Hedge Fund Makes $378 Million Bid for Amag in Attempt to Block Poorly Received Merger

Shares of Lexington, MA-based Amag Pharmaceuticals (NASDAQ: [[ticker:AMAG]]) are up 10 percent today to $15.77 on news of an unsolicited takeover offer from New York-based hedge fund MSMB Capital Management. The hedge fund is offering $18 a share to acquire Amag, which markets a drug to treat iron-deficiency anemia. The bid comes in the wake … Continue reading “New York Hedge Fund Makes $378 Million Bid for Amag in Attempt to Block Poorly Received Merger”

Acceleron Gets $25 Million in Partnership Deal With Celgene

Cambridge, MA-based Acceleron Pharma is broadening its anemia research partnership with Celgene (NASDAQ: [[ticker:CELG]]), the Summit, NJ-based biotech giant, according to a press release. The companies, which have been collaborating since 2008, have formed a new joint development and commercialization deal for ACE-536, a compound that treats anemia. Celgene will make an upfront payment of … Continue reading “Acceleron Gets $25 Million in Partnership Deal With Celgene”

New York’s ZocDoc Scores $50 Million from Russia’s Yuri Milner, Plots Nationwide Expansion of Doctor-Finding Service

Amid news yesterday that Russian billionaire Yuri Milner’s DST Global had poured $400 million into Twitter, another DST investment may have been easy to overlook. ZocDoc—a New York-based startup that allows patients in nine cities to book their doctors’ appointments online—scored a $50 million investment from DST. The Series C funding was a major coup, … Continue reading “New York’s ZocDoc Scores $50 Million from Russia’s Yuri Milner, Plots Nationwide Expansion of Doctor-Finding Service”

American Idol, Startup Style: TechStars Reality Show to Debut on Bloomberg TV

TechStars, the seed-stage investment and incubator program for entrepreneurs, announced today that it will be the subject of a series starting this fall on Bloomberg TV. The show, called “TechStars” (see trailer below), follows the inaugural New York program, which ran for three months earlier this year. The show will debut September 13. TechStars holds … Continue reading “American Idol, Startup Style: TechStars Reality Show to Debut on Bloomberg TV”

Ventrus Attracts Investors With Hemorrhoid Drug and Two Other Late-Stage Drug Candidates

Ventrus Biosciences CEO Russell Ellison jokes that he doesn’t know how his mother would have reacted if he told her 20 years ago what he’d be doing today. Jokes help when you work at a place like Ventrus (NASDAQ: [[ticker:VTUS]]), where the lead drug candidate may just become the first ever FDA-approved prescription product to … Continue reading “Ventrus Attracts Investors With Hemorrhoid Drug and Two Other Late-Stage Drug Candidates”

Foresight Biotherapeutics Pulls in $2 Million

Foresight Biotherapeutics, a New York company developing new therapies to treat eye and ear disorders, has raised $2 million, according to an SEC filing. Foresight’s technology platform, called Povidone-Iodine (PVP-I), allows a well-known antiseptic to be formulated in different ways. The company’s lead experimental compound is being tested in a form of conjunctivitis. The company … Continue reading “Foresight Biotherapeutics Pulls in $2 Million”

Roka Bioscience Pulls in $20 Million

Roka Bioscience, a Warren, NJ-based of diagnostic tools for industrial markets, raised $20 million in a Series C, according to a press release. Roka’s lead product—an assay for food-safety testing—is expected to hit the market later this year. Roka was formed in 2009 as a spinoff from Gen-Probe (NASDAQ: [[ticker:GPRO]]), a San Diego-based maker of … Continue reading “Roka Bioscience Pulls in $20 Million”

Boston Scientific Beats Street Expectations, Buys Back Shares, and Eyes China Expansion

Today Natick, MA-based Boston Scientific (NYSE: [[ticker:BSX]]) announced second-quarter sales of $1.975 billion and earnings excluding special items of $0.17 a share, which beat analyst expectations by nearly a dime. Sales of its neuromodulation devices were up 16 percent, and the company reported sales increases in many of its product lines. It also said the … Continue reading “Boston Scientific Beats Street Expectations, Buys Back Shares, and Eyes China Expansion”

Lenddo Sells Microloans in Philippines, Eyes Expansion to World’s Emerging Middle Class

As a serial tech entrepreneur, Jeffrey Stewart has spent a lot of time working with outsourcing companies in developing countries, such as the Philippines. And he was always struck by a common complaint he heard from his workers in those countries. “They couldn’t access loans,” Stewart says. So earlier this year, he and fellow entrepreneur … Continue reading “Lenddo Sells Microloans in Philippines, Eyes Expansion to World’s Emerging Middle Class”

Cerulean Shows Progress in Cancer, Tests Nano-Drug Platform in RNAi

[Updated 8/15/11 8:00 am. See below.] In mid-July, Cambridge, MA-based Cerulean Pharma began a new clinical trial of its cancer drug CRLX101, which is a “nanoparticle”—a powerful chemical wrapped in a tiny package that can burrow its way into cancer cells and kill them. Cerulean is one of a handful of companies laboring to apply nanotechnology … Continue reading “Cerulean Shows Progress in Cancer, Tests Nano-Drug Platform in RNAi”

BrightLine Scores $30 Million

New York-based interactive advertising firm BrightLine received $30 million from private equity firm JMI Equity, according to a press release. The seven-year-old company creates and implements ad campaigns that invite viewer involvement across cable, satellite and other TV platforms. Its clients include Unilever, Kellogg’s, and GlaxoSmithKline.

EnVivo, Backed by Fidelity Biosciences, Tests New Weapon Against Alzheimer’s

When Eli Lilly stopped developing an Alzheimer’s compound a year ago due to side effects and lack of effectiveness, some experts expressed doubt about a similar drug being developed by Watertown, MA-based EnVivo Pharmaceuticals. Those doubts may have intensified last week, when pharmaceutical giant Lilly released more data on the drug, called semagacestat, which is … Continue reading “EnVivo, Backed by Fidelity Biosciences, Tests New Weapon Against Alzheimer’s”

Biogen Wins European Approval for MS Drug

Weston, MA-based Biogen Idec (NASDAQ: [[ticker:BIIB]]) announced today that it has received conditional approval from the European Commission to market the long-acting version of fampridine (Fampyra) to adult patients with multiple sclerosis (MS) who have walking disability. The drug was developed and commercialized in the United States by Hawthorne, NY-based Acorda Therapeutics (NASDAQ: [[ticker:ACOR]]). As part … Continue reading “Biogen Wins European Approval for MS Drug”

New York Entrepreneurs Pitch VCs on “FinTech” Startups

On Friday, more than 70 venture capitalists and other investors braved a New York City heat wave, and made their way to the midtown office of financial-services giant UBS for the first ever FinTech Innovation Lab demo day. The lab was a 12-week long program for startups that are developing new technologies to serve the … Continue reading “New York Entrepreneurs Pitch VCs on “FinTech” Startups”

Q2 Funding in NYC: “Shopping Facilitators” and Foursquare Rule

Foursquare’s recent $50 million funding round may have grabbed headlines nationwide, but a close look at second-quarter venture rounds reveals another trend: Investors can’t get enough of fashion sites. Gilt Groupe, a website that features limited-time “flash” sales of clothing, travel, and other high-end items, pulled in a remarkable $136 million. Ideeli and Rent the … Continue reading “Q2 Funding in NYC: “Shopping Facilitators” and Foursquare Rule”

NYC’s Coronado Biosciences Plans Two Drug Trials, Wall Street Debut, and Boston Move

It’s not too often that a biotech company marches into the FDA and asks permission to run human tests of a remedy derived from parasitic worms. But the agency will likely be entertaining just such a request sometime in the next couple of months, when Coronado Biosciences files an Investigational New Drug (IND) application for … Continue reading “NYC’s Coronado Biosciences Plans Two Drug Trials, Wall Street Debut, and Boston Move”

Amag Makes Good on Acquisition Promise, But Wall Street Balks

Amag Pharmaceuticals CEO Brian Pereira recently told Xconomy he was shopping for acquisitions to round out the Lexington, MA-based company’s pipeline. Today Amag (NASDAQ: [[ticker:AMAG]]) delivered on that vow by announcing it would merge with Allos Therapeutics (NASDAQ: [[ticker:ALTH]]) in an all-stock deal worth $686 million. Allos, based in Westminster, CO, makes pralatrexate injection (Folotyn), … Continue reading “Amag Makes Good on Acquisition Promise, But Wall Street Balks”

Merck and UCSF Team Up to Find New Weapons Against Resurgent HIV

Three years ago, Warner Greene was among a number of HIV experts meeting at George Washington University to discuss the problem of HIV “latency”—the tendency of the virus that causes AIDS to hide in cells and then rage up when drug therapy is halted. “I made a plea,” recalls Greene, head of virology and immunology … Continue reading “Merck and UCSF Team Up to Find New Weapons Against Resurgent HIV”

Bristol Diabetes Drug Gets Thumbs-Down

An advisory panel to the FDA voted nine to six against the agency approving dapagliflozin, a diabetes treatment developed by New York-based Bristol-Myers Squibb (NYSE: [[ticker:BMY]]) and AstraZeneca (NYSE: [[ticker:AZN]]), according to a press release. Dapagliflozin is among a new class of drugs designed to inhibit SGLT2, a protein that promotes the reabsorption of glucose … Continue reading “Bristol Diabetes Drug Gets Thumbs-Down”

Pfizer buys Icagen

New York-based drug giant Pfizer (NYSE: [[ticker:PFE]]) is acquiring Icagen (NASDAQ: [[ticker:ICGN]]), a biotech company based in Research Triangle Park, NC, for $56 million, according to a press release. The two companies have been collaborating since 2007 to develop new pain drugs that manipulate sodium ion channels. Pfizer already owned 11 percent of Icagen’s stock. The … Continue reading “Pfizer buys Icagen”

Advanced Cell Technology Starts Human Trials of Embryonic Stem Cells Under Strict FDA Supervision

On July 14, Advanced Cell Technology (ACT)—a long-struggling developer of therapies derived from human embryonic stem cells—started its first human trials, by treating two patients suffering from blinding eye diseases. The company’s chief scientific officer, Robert Lanza, was still on a high when reached by phone in his Marlborough, MA, office a few days later. … Continue reading “Advanced Cell Technology Starts Human Trials of Embryonic Stem Cells Under Strict FDA Supervision”

Veterans of J&J, Pfizer, and Medimmune Seek to Transform Arno into Oncology Powerhouse

The employees at Arno Therapeutics in Parsippany, NJ, have so much empty floor space in their square-shaped office suite that they could set up a volleyball net there and have a daily game. Well, sort of. Arno is one of many emerging “virtual” biotechs, so it outsources much of the clinical development work on its … Continue reading “Veterans of J&J, Pfizer, and Medimmune Seek to Transform Arno into Oncology Powerhouse”

Coronado Biosciences Files Form 10

New York-based Coronado Biosciences has registered to become a public reporting company through a Form 10. Coronado is developing immunotherapy approaches to treat acute myeloid leukemia and autoimmune diseases such as multiple sclerosis and inflammatory bowel disease. Coronado is preparing to start a Phase 2 trial of one of its experimental molecules in Crohn’s Disease … Continue reading “Coronado Biosciences Files Form 10”

Verastem, Rooted at MIT, Raises $32 Million and Adds ATV and Astellas to Slate of Investors

Boston-based oncology startup Verastem, which was founded by MIT biologists Robert Weinberg and Eric Lander, has raised $32 million in a Series B financing, the company announced today. Verastem is developing drugs that target cancer stem cells, and it previously raised $16 million from a group led by former Sirtris CEO Christoph Westphal’s Longwood Founders … Continue reading “Verastem, Rooted at MIT, Raises $32 Million and Adds ATV and Astellas to Slate of Investors”

Sanofi Collaboration Drives Regeneron’s Transformation From R&D House to Commercial Player

As the stock market was closing yesterday, Regeneron (NASDAQ: [[ticker:REGN]]) announced long-awaited data from a mid-stage trial of a rheumatoid arthritis drug it is developing with French drug giant Sanofi-Aventis (NYSE: [[ticker:SNY]]). The companies said that patients taking the drug, an antibody called sarilumab (REGN88/SAR153191), along with the commonly used treatment methotrexate achieved a significant improvement … Continue reading “Sanofi Collaboration Drives Regeneron’s Transformation From R&D House to Commercial Player”

Mojiva Raises $25 Million

New York-based Mojiva—the parent company of the mobile ad network, Mojiva, and the mobile ad serving platform, Mocean Mobile—raised $25 million in a Series C, according to a press release sent to Xconomy. The round was led by Shamrock Capital Advisors, with participation from previous investors Pelion Venture Partners and Bertelsmann Digital Media Investments.

Amag Rebounds from FDA Handwringing, Looks To Stock Pipeline Through Acquisitions

Exactly two years ago, Lexington, MA-based Amag Pharmaceuticals (NASDAQ: [[ticker:AMAG]]) took a giant step forward in its effort to morph from a manufacturer of diagnostic-imaging products to a developer of cutting-edge drugs. The company introduced its first therapeutic product, ferumoxytol (Feraheme), an intravenous injection to treat iron deficiency in patients with chronic kidney disease. Investors … Continue reading “Amag Rebounds from FDA Handwringing, Looks To Stock Pipeline Through Acquisitions”

FashionStake Picks Up Moxsie

New York-based FashionStake, which aims to engage shoppers in picking the best new designers, has acquired Palo Alto-based e-tailer Moxsie, according to a press release sent to Xconomy by FashionStake CEO Daniel Gulati. The financial terms were not disclosed. Moxsie, which specializes in carrying fashions by independent designers, has 170,000 Twitter followers and was named … Continue reading “FashionStake Picks Up Moxsie”

Amazon and Pfizer Fuel Ever-Growing Frenzy in the Market for Pet Supplies

As much as I hate clichés, I can’t resist using them to describe what’s been going on lately in the pet-products business. So here goes: It’s raining cats and dogs online, as Amazon’s Quidsi launches Wag.com and PetFlow.com brings in a round of funding. The fur is flying on Wall Street with news that Pfizer … Continue reading “Amazon and Pfizer Fuel Ever-Growing Frenzy in the Market for Pet Supplies”

Pfizer Explores Options for Animal Health and Nutrition

The long-speculated breakup of New York-based pharmaceutical giant Pfizer (NYSE: [[ticker:PFE]]) seems to be taking a giant step forward today. The company is “exploring strategic alternatives” for its animal health and nutrition units, so it can better focus on its drug-development and consumer-health pursuits, according to a press release. Pfizer Animal Health is one of the … Continue reading “Pfizer Explores Options for Animal Health and Nutrition”

Zafgen Pockets $33M To Take Obesity Drug Through Next Big Step in Clinical Trials

Obesity drug developer Zafgen is announcing today that it has closed a $33 million Series C financing led by its existing investors, including Third Rock Ventures and Atlas Venture. This doubles the total amount of cash raised by the Cambridge, MA-based startup to $66 million. Zafgen CEO Thomas Hughes says the company will use the … Continue reading “Zafgen Pockets $33M To Take Obesity Drug Through Next Big Step in Clinical Trials”

J&J Joins Pharmasset for Hepatitis Study

Princeton, NJ-based Pharmasset (NASDAQ: [[ticker:VRUS]]) is teaming up with Johnson & Johnson (NYSE: [[ticker:JNJ]]) unit Tibotec to study a drug cocktail for the treatment of hepatitis C virus (HCV), according to a press release. The program will investigate the potential of combining PSI-7977, Pharmasset’s investigational nucleotide polymerase inhibitor, and TMC435, Tibotec’s investigational protease inhibitor. The financial details … Continue reading “J&J Joins Pharmasset for Hepatitis Study”

Coronado Biosciences Pulls in $25.8 Million

New York City-based Coronado Biosciences has raised $25.8 million, according to a regulatory filing. The company is developing immunotherapy approaches to treating acute myeloid leukemia, inflammatory bowel disease, multiple sclerosis, and other autoimmune diseases. It previously raised $21.6 million in November 2010.

Amazon Unit Quidsi Expands From Diapers and Soap to Dogs and Cats, With New Site Wag.Com

Today Jersey City, NJ-based e-commerce provider Quidsi—which was bought by Amazon in November for $500 million—is launching Wag.com, an online warehouse that will offer more than 10,000 products for dogs, cats, fish, birds, and just about every other critter that families welcome into their homes. The site will operate independently of Amazon, similar to Quidsi’s … Continue reading “Amazon Unit Quidsi Expands From Diapers and Soap to Dogs and Cats, With New Site Wag.Com”

Comixology Builds One-Stop Shop for Comics Publishers, Retailers, and Fans

Comixology’s small staff of 24 comic-book freaks are working around the clock these days, preparing for one of the biggest changes their industry has ever seen: On Aug. 31, mega-publisher DC Comics will begin releasing its titles digitally and in paper form on the same day. Until now, there’s been a lag of at least … Continue reading “Comixology Builds One-Stop Shop for Comics Publishers, Retailers, and Fans”

Syndax Moves Closer to Pivotal Trials of Selective Lung Cancer Treatment

Executives from Syndax Pharmaceuticals are spending their post-holiday week in Amsterdam, where they’ll be presenting three sets of data on the company’s lung cancer drug at the International Association for the Study of Lung Cancer conference. The drug, called entinostat, is in Phase 2 clinical testing, the results of which will be critical to advancing … Continue reading “Syndax Moves Closer to Pivotal Trials of Selective Lung Cancer Treatment”

Acorda Acquires Medtronic Drug, Fills Out Mid-Stage Neurology Pipeline

Today Hawthorne, NY-based Acorda Therapeutics (NASDAQ: [[ticker:ACOR]]) announced that it licensed an experimental compound to treat spinal cord injury from medical-device giant Medtronic (NYSE: [[ticker:MDT]]). Acorda paid $3 million up front for worldwide rights to the compound, and pledged up to $32 million in regulatory and development milestone payments to Medtronic, which is based in Minneapolis. … Continue reading “Acorda Acquires Medtronic Drug, Fills Out Mid-Stage Neurology Pipeline”

Lotus Pioneers New Treatment for Rare and Disfiguring Disorder, Raises $26 Million From Third Rock

Today marks the debut of Lotus Tissue Repair, a Cambridge, MA-based company that’s developing a treatment for a rare, genetic disease called dystrophic epidermolysis bullosa (DEB). The disease may not be well known, but the folks behind the startup certainly are. Lotus has closed a $26 million Series A financing round led by Boston-based Third … Continue reading “Lotus Pioneers New Treatment for Rare and Disfiguring Disorder, Raises $26 Million From Third Rock”

New York Angels Play Fast but Tough in the City’s Startup Scene

The New York Angels is a group of 61 individual investors who have invested more than $40 million in more than 70 startups ever since the group launched in 1997. The organization’s vice chairman is Brian Cohen, who himself has a long history of entrepreneurship—the lessons from which he tries to pass along to the … Continue reading “New York Angels Play Fast but Tough in the City’s Startup Scene”

PTC Teams With AstraZeneca

South Plainfield, NJ-based PTC Therapeutics entered into an exclusive licensing agreement with AstraZeneca (NYSE: [[ticker:AZN]]) for PTC’s technology, called GEMS (gene expression modulation by small molecules), according to a press release. The GEMS technology is designed to identify compounds that target particular regions of messenger RNA molecules. The collaboration is geared towards discovering new remedies for cancer … Continue reading “PTC Teams With AstraZeneca”

Animoto Pockets $25 Million

New York-based Animoto, which lets anyone create professional-looking videos on the fly, raised a $25 million Series C, according to VentureWire. Animoto’s Cinematic Artificial Intelligence technology analyzes and combines images, video clips and music—allowing the average Joe to achieve the same sophisticated post-production skills and techniques that professional TV and film producers can. The funding … Continue reading “Animoto Pockets $25 Million”