It’s not unusual for the team that founds a biotech startup to hand the reins to someone else once it’s time to take the next step. That’s where ImmuneXcite is, now that the Lexington, MA-based startup has gotten the support of some big-name investors. The VC arm of Sanofi (Sanofi-Genzyme BioVentures), Cormorant Asset Management, and … Continue reading “With New Execs, Sanofi Backing, ImmuneXcite Begins Clinical Push”
Author: Ben Fidler
Ben is former Xconomy Deputy Editor, Biotechnology. He is a seasoned business journalist that comes to Xconomy after a nine-year stint at The Deal, where he covered corporate transactions in industries ranging from biotech to auto parts and gaming. Most recently, Ben was The Deal’s senior healthcare writer, focusing on acquisitions, venture financings, IPOs, partnerships and industry trends in the pharmaceutical, biotech, diagnostics and med tech spaces. Ben wrote features on creative biotech financing models, analyses of middle market and large cap buyouts, spin-offs and restructurings, and enterprise pieces on legal issues such as pay-for-delay agreements and the Affordable Care Act. Before switching to the healthcare beat, Ben was The Deal's senior bankruptcy reporter, covering the restructurings of the Texas Rangers, Phoenix Coyotes, GM, Delphi, Trump Entertainment Resorts and Blockbuster, among others. Ben has a bachelor’s degree in English from Binghamton University.
Oncothyreon Names Scott Myers New CEO
Seattle-based Oncothyreon (NASDAQ: [[ticker:ONTY]]) has named Scott D. Myers its new president and CEO. Myers most recently ran Aerocrine, a diagnostics company that Circassia Pharmaceuticals bought for $214 million last year. He also had stints at UCB and Johnson & Johnson before that. Christopher Henney had been serving as Oncothyreon’s interim CEO after Robert Kirkman … Continue reading “Oncothyreon Names Scott Myers New CEO”
With New Data, Alder Keeps Pace in Migraine Drug Race
[Updated, 4:39 pm, see below] There aren’t many effective treatments out there for the millions of Americans who suffer from migraines. But over the past few years, a new class of drugs that might actually prevent these debilitating headaches from occurring—rather than just mute them when they happen—has been inching towards the market. One of … Continue reading “With New Data, Alder Keeps Pace in Migraine Drug Race”
Emulate Gets $28M to Roll Out “Plug and Play” Organ-on-Chip Tech
One step at a time, Emulate has been trying to use microchip systems to simulate organs and diseases for testing—a lung with asthma or dangerous fluid buildup, and perhaps someday a brain with Alzheimer’s. It’s part of an ambitious goal of helping to change preclinical drug development and improve the efficiency of drug-making. Now Emulate … Continue reading “Emulate Gets $28M to Roll Out “Plug and Play” Organ-on-Chip Tech”
Restructuring Looms for Forum as Neuro Drug Fails Key Clinical Test
Forum Pharmaceuticals has been pursuing a more than decade-long quest to develop a drug that might help people with a variety of neurological disorders to think more clearly. Unfortunately, however, it’s come up short in its biggest test to date—two large Phase 3 clinical trials in patients with schizophrenia. Waltham, MA-based Forum revealed the topline … Continue reading “Restructuring Looms for Forum as Neuro Drug Fails Key Clinical Test”
Gerngross, Singer Join “What’s Hot in Boston Biotech” on April 6
We’re now less than two weeks away from our annual biotech bash in Boston, but we’ve got a few new tidbits to share—two new speakers have come aboard to round out the program. The first new name is Tillman Gerngross, the Dartmouth College professor, founder of antibody shop Adimab, and scientist-turned-scientific businessman, as we wrote … Continue reading “Gerngross, Singer Join “What’s Hot in Boston Biotech” on April 6”
East Coast Biotech Roundup: Harvard’s Haul, Patent Fights, Padlock & More
Biotech news on the East Coast runs the gamut this week, from financings to buyouts, a record licensing deal, a new startup, and some high-stakes patent fights. Let’s get right to it. —Merck (NYSE: [[ticker:MRK]]) this week paid Harvard University $20 million up front to license a group of potential cancer drugs from the labs … Continue reading “East Coast Biotech Roundup: Harvard’s Haul, Patent Fights, Padlock & More”
Tarveda Formally Spins Out Placon to Advance Platinum Cancer Drugs
Blend Therapeutics rebranded at “Tarveda Therapeutics” a few months ago to reflect the strategic change the company underwent in 2015. A prospective cancer drug was spun into a new startup as part of that undertaking, and today, that company—Placon Therapeutics—has formally launched. Placon, based in Cambridge, MA, is advancing what had been Tarveda’s lead drug, … Continue reading “Tarveda Formally Spins Out Placon to Advance Platinum Cancer Drugs”
Gilman Scores for Atlas Again as Bristol Buys Padlock for up to $600M
For the second time in just over four years, former Biogen research executive Michael Gilman has steered a startup towards a buyout. This time, it’s Padlock Therapeutics, a fledgling developer of autoimmune disease drugs that’s about to join Bristol-Myers Squibb’s portfolio. Bristol (NYSE: [[ticker:BMY]]) has agreed to acquire Padlock in a deal that could be … Continue reading “Gilman Scores for Atlas Again as Bristol Buys Padlock for up to $600M”
NY Bio Startup Syntimmune Gets $10M From Baxalta, Apple Tree
New York biotech is still a ways away from the life sciences startup factories in Boston and San Francisco. But the last few months have shown that some investment firms are willing to fund and grow new biotechs in Manhattan—the latest being a company called Syntimmune. Syntimmune hadn’t made an announcement since it was formed … Continue reading “NY Bio Startup Syntimmune Gets $10M From Baxalta, Apple Tree”
BioMarin Heads to FDA With Mixed Data For Rare Disease Drug
BioMarin Pharmaceutical had a setback in January when a gamble it had made on a Duchenne muscular dystrophy drug failed. The company has been rallying around data from other drugs in its pipeline, however, and one of its most important tests was a Phase 3 study that produced results this morning. Those data are mixed. … Continue reading “BioMarin Heads to FDA With Mixed Data For Rare Disease Drug”
Tech Megatransfer: Merck Pays Harvard $20M For “Accelerated” Cancer Drugs
Some universities are more aggressive than others in looking for ways to move life science projects out of the academic lab and into companies, what’s often known as “tech transfer.” For Harvard University, the Blavatnik Biomedical Accelerator is one such tool, and today it’s brought in a rather large chunk of change. Merck (NYSE: [[ticker:MRK]]) … Continue reading “Tech Megatransfer: Merck Pays Harvard $20M For “Accelerated” Cancer Drugs”
East Coast Bio Roundup: PCSK9 Battle, NYU Startups, Blueprint & More
Much of the East Coast is green today for St. Patrick’s Day, but overall it’s been another red week for biotech. Indexes continued to slump despite some good data from the likes of Celator Pharmaceuticals of Ewing, NJ. More on that and the rest of your East Coast news below. —The battle between rival developers … Continue reading “East Coast Bio Roundup: PCSK9 Battle, NYU Startups, Blueprint & More”
Cagnoni Joins CRISPR Tx Board, Coles Named Chairman
Cambridge, MA, and Basel-based CRISPR Therapeutics has bolstered its board of directors. Yumanity Therapeutics CEO and former Onyx Pharmaceuticals CEO Tony Coles—who was already on CRISPR’s board—was named chairman, replacing Versant Ventures managing director Brad Bolzon. Pablo Cagnoni, another Onyx veteran and currently the president and CEO of South San Francisco, CA, startup Tizona Therapeutics, … Continue reading “Cagnoni Joins CRISPR Tx Board, Coles Named Chairman”
Startups Begin to Emerge From NYU’s “Virtual” Biotech Factory
The gap between basic biomedical research and drug development is often called the “valley of death,” where promising projects are stymied by a lack of funding. In New York, with a strong research community but sparse biotech venture presence, the problem has been more dire than in other urban biotech clusters. But a NYU Langone … Continue reading “Startups Begin to Emerge From NYU’s “Virtual” Biotech Factory”
Vedanta Bio Names Ex-Genzyme Exec Roberts New CSO
Vedanta Biosciences, a developer of microbiome drugs and an operating subsidiary of PureTech Health, has named Bruce Roberts its chief scientific officer. Roberts most recently led Genzyme’s neuro-immunology and immune-mediated disease research. He’ll now head up the R&D efforts of Vedanta, which recently opened a new headquarters and research facility in Cambridge. … Continue reading “Vedanta Bio Names Ex-Genzyme Exec Roberts New CSO”
Hear Lew Cantley, Others on Shaping NY Biotech on March 29
Lewis Cantley is best known for discovering a key enzyme that’s become the target for a slew of cancer drugs. But he’s also a longtime entrepreneur who is amongst a crop of local scientists trying to prove that startup biotechs can grow and succeed in New York. Cantley, a Weill Cornell Medical College biochemist, is one … Continue reading “Hear Lew Cantley, Others on Shaping NY Biotech on March 29”
CRISPR Tx Taps Former rEVO, Genzyme Exec As New CFO
Basel, Switzerland and Cambrige, MA-based CRISPR Therapeutics has named Marc Becker its chief financial officer. Becker is coming off a stint as senior vice president and CFO of rEVO Biologics—where he helped prep the company for its 2014 IPO—and was a finance executive at Genzyme before that. CRISPR Therapeutics is one of three companies with … Continue reading “CRISPR Tx Taps Former rEVO, Genzyme Exec As New CFO”
What’s Hot in Boston Biotech: Here’s the Agenda
We’re just over a month away from our latest biotech bash in Boston, and with the agenda taking shape, we’re offering you a look at the proceedings today. Our third annual iteration of “What’s Hot in Boston Biotech” features a mix of spotlight solo talks, candid stories, interactive discussions and more on a host of … Continue reading “What’s Hot in Boston Biotech: Here’s the Agenda”
East Coast Biotech Roundup: Celldex, Ensemble, CRISPR Battle & More
Biotech indices had rallied over the past week, but that’s before the drug pricing issue returned to the spotlight in Washington. The Centers for Medicare & Medicaid Services, as the New York Times wrote here, proposed new ideas to change the reimbursement for prescription drugs under Part B of Medicare—infused and injectable drugs, like chemotherapies … Continue reading “East Coast Biotech Roundup: Celldex, Ensemble, CRISPR Battle & More”
Ensemble Quietly Amasses Cancer Drug Pipeline, Scouts for New Deals
It’s not often that a biotech startup can go more than eight years without a big funding round, but Ensemble Therapeutics has been able to do so, thanks to some early success stringing together drug discovery partnerships. But with the Cambridge, MA-based company now churning out drug candidates of its own, its bills—and financing needs—are … Continue reading “Ensemble Quietly Amasses Cancer Drug Pipeline, Scouts for New Deals”
Scholar Rock Names Former Dyax Exec New CMO
Cambridge, MA-based Scholar Rock has named Yung Chyung its chief medical officer. Chyung was previously the VP of medical research at Dyax (acquired last year by Shire), and a medical director at Genzyme before that.
Celldex’s Brain Cancer Vaccine Fails Key Phase 3 Test, Shares Fall
It’s notoriously tough to develop a successful cancer vaccine, but Celldex Therapeutics has made it farther than most with a closely watched immunotherapeutic treatment for an aggressive, deadly form of brain cancer called glioblastoma. The Needham, MA-based company had even begun building the commercial infrastructure needed to market the treatment, known as rindopepimut (Rintega). But … Continue reading “Celldex’s Brain Cancer Vaccine Fails Key Phase 3 Test, Shares Fall”
New York’s Life Science Disruptors on March 29: Here’s the Agenda
We’re now less than a month away from bringing the New York biotech scene together once again for our annual life sciences event. Today you can have a sneak peek at the details. On March 29, we’re hosting “New York’s Life Science Disruptors” at the Apella Event Space at the Alexandria Center for Life Science … Continue reading “New York’s Life Science Disruptors on March 29: Here’s the Agenda”
East Coast Biotech Roundup: Ribon, Syndax, Aldeyra & More
Who will take up the charge of leading New York biotech? That’s an important question going forward in the wake of two recent big losses for the Big Apple’s life sciences scene. Both Marc Tessier-Lavigne, Rockefeller University’s president, and Laurie Glimcher, Dean of Weill Cornell Medical College, have agreed to take on new jobs elsewhere. … Continue reading “East Coast Biotech Roundup: Ribon, Syndax, Aldeyra & More”
Stealthy MIT Spinout Ribon, Led by a Sanofi Vet, Takes Aim at Cancer
Two years ago, AstraZeneca became the first company to win approval of a new type of cancer drug known as a “PARP” inhibitor. A lot of competition has followed suit, and now it looks as if a new startup from MIT called Ribon Therapeutics—headed by a former Sanofi executive and backed by three different venture … Continue reading “Stealthy MIT Spinout Ribon, Led by a Sanofi Vet, Takes Aim at Cancer”
Syndax Cuts Price But Bags $53M in Second IPO Try
Over the past year, Syndax Pharmaceuticals has altered its strategic course and hired new management to implement it. And it looks like that change was big enough to propel Waltham, MA-based Syndax through the IPO queue on its second attempt since late 2014—albeit not on the terms the company had hoped for. Syndax sold 4.4 … Continue reading “Syndax Cuts Price But Bags $53M in Second IPO Try”
With Eye Drug Data, Aldeyra Takes a Small Step Forward in Inflammation
One of biotech’s biggest Wall Street winners on Monday was one of its smaller outfits—a Lexington, MA-based biotech called Aldeyra Therapeutics. It’s no surprise if you haven’t heard of Aldeyra (NASDAQ: [[ticker:ALDX]]). The company went public two years ago with one of the smaller biotech IPOs in recent memory, netting $10.1 million. It has a … Continue reading “With Eye Drug Data, Aldeyra Takes a Small Step Forward in Inflammation”
Bluebird Bio CFO Names Walsh CFO as DeTore Steps Down
Cambridge, MA-based Bluebird Bio (NASDAQ: [[ticker:BLUE]]) says that chief financial officer Jim DeTore has decided to leave the company effective March 18. Starting on March 1, Jeffrey Walsh, who has been Bluebird’s chief operating officer since May 2011, will be named “chief financial and strategy officer” as well.
NYCEDC Bets on Streamlined Pilot Studies to Buoy NY Healthtech Startups
It’s one thing to come up with a new digital health product, say an operating system for health benefits, or a widget to help with patient referrals, that you think might change healthcare. It’s another to get clinicians to actually use it. That’s where pilot studies, or test runs of a new technology at a … Continue reading “NYCEDC Bets on Streamlined Pilot Studies to Buoy NY Healthtech Startups”
Déjà Vu for PTC as FDA Declines to Consider Duchenne Drug App
Two times, PTC Therapeutics has asked the FDA to look at an application to approve a Duchenne muscular dystrophy drug it’s been developing. And now two times, the agency has sent the South Plainfield, NJ-based company back to the drawing board. This morning, PTC (NASDAQ: [[ticker:PTCT]]) announced that it’s received a “refuse to file” letter … Continue reading “Déjà Vu for PTC as FDA Declines to Consider Duchenne Drug App”
Viehbacher, Sharp & More at What’s Hot in Boston Biotech on April 6
A funny thing happened to the unprecedented multi-year bull run in biotech this past summer: it ended. The parade of IPOs and sky high valuations have come to a halt; biotech startups will have to adjust accordingly. Drug companies have become a target in an election year as the pricing debate has taken center stage. … Continue reading “Viehbacher, Sharp & More at What’s Hot in Boston Biotech on April 6”
Synlogic Nabs $40M, Prepares To Put Modified Microbes Into Patients
Synlogic just inked its first partnership, with AbbVie, last week. Today the Cambridge, MA-based startup got the cash needed to get to another first: tests of its genetically altered microbes in human patients. Synlogic has raised a $40 million Series B round led by new investor Orbimed HealthCare Fund Management. The company—founded in 2014 by … Continue reading “Synlogic Nabs $40M, Prepares To Put Modified Microbes Into Patients”
Seven Bridges Gets $45M, Begins Test Run for Cancer Genomics Tool
When President Obama announced the Precision Medicine Initiative last year ears perked up at Seven Bridges Genomics, one of a number of startups that helps researchers store, analyze, and interpret huge amounts of genomic data. The announcement meant more large-scale genomic data projects were on the way for the Cambridge, MA-based startup to fight for. … Continue reading “Seven Bridges Gets $45M, Begins Test Run for Cancer Genomics Tool”
East Coast Biotech Roundup: Scangos, CRISPR, Yumanity, Synlogic & More
Biotech and pharma executives from across the country descended on frigid midtown Manhattan this week for the BIO CEO & Investor Conference, and we’ve got a few tidbits from the festivities—as well as the rest of your East Coast headlines—below. But first, a programming note. The East Coast roundup has moved to a weekly Thursday … Continue reading “East Coast Biotech Roundup: Scangos, CRISPR, Yumanity, Synlogic & More”
Proteostasis Cuts Price But Heads to Nasdaq After $50M IPO
The stock markets haven’t been kind to biotech companies this year whether the companies are already public or trying to be. Proteostasis Therapeutics, a developer of drugs for cystic fibrosis and other diseases, is the latest example. It had to significantly discount its IPO demands to make it to the Nasdaq. Cambridge, MA-based Proteostasis raised … Continue reading “Proteostasis Cuts Price But Heads to Nasdaq After $50M IPO”
Gene Editing Execs Talk Scientific, Regulatory Hurdles At BIO Panel
On a day when the top American intelligence chief called gene editing a potential “weapon of mass destruction,” executives of companies working with CRISPR-Cas9, the most widespread gene editing tool, met to discuss ethical and scientific questions that must be answered before it can be used to treat human disease. The hurdles haven’t stopped investors … Continue reading “Gene Editing Execs Talk Scientific, Regulatory Hurdles At BIO Panel”
Biogen’s Scangos on Pricing, Deals, Hemophilia, Alzheimer’s & More
It’s been a roller coaster year for Biogen. A year ago, the Cambridge, MA-based company was the toast of biotech. Executives telegraphed positive early data about an experimental Alzheimer’s drug, and shares boomed, trading as high as $475 apiece last March. Things have changed since. The biotech bubble has deflated, taking valuations down with them. … Continue reading “Biogen’s Scangos on Pricing, Deals, Hemophilia, Alzheimer’s & More”
East Coast Bio Roundup: CRISPR, Tessier-Lavigne, Pricing, Spero & More
There was biotech news up and down the East Coast this week. In Boston, all eyes were on the first biotech IPO of the year—and the sector let out a collective sigh when things went well. New York, meanwhile, suffered a tough blow to its life sciences scene, as one of its strongest advocates announced … Continue reading “East Coast Bio Roundup: CRISPR, Tessier-Lavigne, Pricing, Spero & More”
Rockefeller’s Tessier-Lavigne Heads Back to the Bay to Run Stanford
[Updated, 2/5/16, 7:06 am ET] Marc Tessier-Lavigne spent much of his professional life on the West Coast before becoming president of Rockefeller University in 2011. From that perch, the neuroscientist was a ringleader in New York’s emerging life sciences community. After five years, however, he’s heading back to the San Francisco Bay Area to run … Continue reading “Rockefeller’s Tessier-Lavigne Heads Back to the Bay to Run Stanford”
CRISPR Hits Wall Street as Editas Bags $94M in IPO
After a few years of explosive hype and no shortage of controversy, the gene editing system known as CRISPR-Cas9 has finally made its way to the public markets. This evening, Editas Medicine, of Cambridge, MA, priced its IPO. When Editas debuts on the Nasdaq tomorrow, public investors will have their first chance to buy into … Continue reading “CRISPR Hits Wall Street as Editas Bags $94M in IPO”
Spero Eyes First Trial, Gets $30M More to Battle Drug-Resistant Bugs
With three different ways of attacking troublesome drug-resistant bacteria in its portfolio, Spero Therapeutics has begun to resemble something of an antibiotics roll-up. And now it’s got another $30 million to continue the work, with its first big clinical test coming later this year. Spero said today it has raised a $30 million Series B … Continue reading “Spero Eyes First Trial, Gets $30M More to Battle Drug-Resistant Bugs”
C4 Therapeutics Names Broad Institute’s Phillips CSO
Cambridge, MA-based C4 Therapeutics has named Andrew Phillips its chief scientific officer. Phillips was most recently an executive at the Broad Institute of MIT and Harvard, where he headed development of therapeutics. He was a chemistry professor at Yale University before that.
Seeking A Fresh Start in Gene Therapy, Avalanche Merges With Annapurna
Avalanche Biotechnologies went public during a renaissance for gene therapy, but it’s been searching for a way forward ever since a disappointing trial led to an executive overhaul. The Menlo Park, CA, company has turned to a privately held startup with roots at Weill Cornell Medical College to turn things around. This morning, Avalanche (NASDAQ: … Continue reading “Seeking A Fresh Start in Gene Therapy, Avalanche Merges With Annapurna”
East Coast Biotech Roundup: Editas, Hep C, Akashi, Tarveda & More
January is just about over, and for biotech investors, that’s a good thing. The Nasdaq Biotechnology Index (NASDAQ: [[ticker:IBB]]) has plummeted more than 22 percent in January. Thursday alone the index fell more than 3.6 percent without any clear negative catalyst (see this Fortune article), prompting a series of notes from sell-side analysts trying to … Continue reading “East Coast Biotech Roundup: Editas, Hep C, Akashi, Tarveda & More”
Surface Taps Ex-Infinity Pharma Exec as New CSO
Cambridge, MA-based Surface Oncology has named Vito Palombella its chief scientific officer. Palombella was most recently the executive vice president and CSO of Infinity Pharmaceuticals (NASDAQ: [[ticker:INFI]]), where he spent almost six years. He held positions at Millennium Pharmaceuticals and LeukoSite before that.
Blend Rebrands as Tarveda, Raises $38M, and Spins Out Cancer Drug
2015 was a year of change for Blend Therapeutics, led by a new CEO, Drew Fromkin, who was hired in April to lead a different strategy for the Watertown, MA-based startup. And the trend is continuing in 2016 as well: The company has changed its name, raised some cash, and found a new home for … Continue reading “Blend Rebrands as Tarveda, Raises $38M, and Spins Out Cancer Drug”
Safety Issues Spur Foundation-Backed Akashi to Suspend Duchenne Trial
It’s been a roller coaster few months for the community of caregivers and patients with Duchenne muscular dystrophy, a progressive and ultimately fatal genetic disease. One potential treatment from BioMarin Pharmaceutical was rejected by the FDA. Another from Sarepta Therapeutics sits in regulatory limbo after Winter Storm Jonas delayed an advisory panel. And now a … Continue reading “Safety Issues Spur Foundation-Backed Akashi to Suspend Duchenne Trial”
Ex-Biogen Exec’s New Startup Gets $61M More For Exosome Drugs
When former Biogen (NASDAQ: [[ticker:BIIB]]) research chief Doug Williams surfaced in November as the CEO of a new startup called Codiak Biosciences, the company said it had a commitment for “$80+ million” in venture cash to get going, rather than identifying a specific number. Now it’s clear exactly how much Codiak has in its wallet—$92 … Continue reading “Ex-Biogen Exec’s New Startup Gets $61M More For Exosome Drugs”
OncoMed Shares Fall After Discouraging News on Pancreatic Cancer Drug
OncoMed Pharmaceuticals has been adept at bringing in partners like GlaxoSmithKline and Celgene to help fund its cancer stem cell work. But the Redwood City, CA, company took a big hit this morning, as word emerged that one of its most advanced drugs—a potential cancer treatment that’s part of an alliance with GlaxoSmithKline—isn’t performing as … Continue reading “OncoMed Shares Fall After Discouraging News on Pancreatic Cancer Drug”