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.

Shire Sends Hemophilia Gene Editing Prospects Back to Sangamo

There is no single race in gene therapy, or gene editing for that matter, more competitive than the one between companies trying to create treatments for hemophilia. And if one of its entrants, Sangamo Biosciences, is going to come out on top, it’ll likely have to do it without the help of Shire. Sangamo Biosciences … Continue reading “Shire Sends Hemophilia Gene Editing Prospects Back to Sangamo”

Ragan Reunites Ex-Genzymers at X4 Pharma to Battle Cancer

Several years ago, Genzyme developed a drug called plerixafor (Mozobil) that’s used to help with bone marrow transplants. Now a group of folks that helped push that drug forward have reunited for a new effort—to use a similar type of therapy for solid tumors and rare diseases. As Xconomy reported earlier today, X4 Pharmaceuticals was … Continue reading “Ragan Reunites Ex-Genzymers at X4 Pharma to Battle Cancer”

Stealthy X4 Pharma, Aided by Termeer, Other Ex-Genzymers, Nabs $37M+

Former Genzyme CEO Henri Termeer has been active as an advisor and investor in the Boston biotech scene the past few years, forming ties with companies like Moderna Therapeutics, Lysosomal Therapeutics, Aura Biosciences, and others. The latest startup to add to his list is X4 Pharmaceuticals, which apparently has raised $37.5 million, according to a … Continue reading “Stealthy X4 Pharma, Aided by Termeer, Other Ex-Genzymers, Nabs $37M+”

Bristol-Myers Makes $150M Bet on Promedior, Fibrosis Drug

New drugs for fibrosis, an internal, often deadly type of scarring, have become the centerpiece of a number of biotech deals over the past few years. The latest just crossed the wires this morning, as Bristol-Myers Squibb has just nabbed an option to buy Promedior, of Lexington, MA. Bristol-Myers (NYSE: [[ticker:BMY]]) is paying $150 million … Continue reading “Bristol-Myers Makes $150M Bet on Promedior, Fibrosis Drug”

With $229M Deal, Amicus Gets a New Drug And Perhaps a Voucher

Just how far has Amicus Therapeutics come in two years? In 2013, the Cranbury, NJ-based company was reeling from a trial failure and restructuring to conserve cash. Now, it’s eyeing its first drug approval and buying a startup in a nine-figure deal. Amicus (NASDAQ: [[ticker:FOLD]]) this morning is announcing the acquisition of Durham, NC-based Scioderm. … Continue reading “With $229M Deal, Amicus Gets a New Drug And Perhaps a Voucher”

In New York, Rgenix Rises From Rockefeller and Takes Aim at Cancer

If you tried to count on one hand the number of New York City biotech startups to get a substantial funding round this year, you’d probably have a few fingers left over. A stealthy startup out of Rockefeller University named Rgenix is one of the lucky few to score a significant haul, and today it’s … Continue reading “In New York, Rgenix Rises From Rockefeller and Takes Aim at Cancer”

East Coast Biotech Roundup: StartUp Health, Constellation, Highline & More

Nothing like a little drama to end your summer, right? Market volatility dragged biotech down this week, and then lifted it back up—at least as of Friday morning. But if you’re confused by the tumult and looking for some distractions, we’ve got plenty of them below. Read on for details of some biotech and digital … Continue reading “East Coast Biotech Roundup: StartUp Health, Constellation, Highline & More”

Constellation Pharma Plots IPO Run As Genentech Passes on Buyout Deal

For all the hoopla that surrounds option-to-buy deals in biotech, the “buy” part is really just an option. Sometimes such deals lead to an acquisition, and sometimes they don’t. Case in point: Constellation Pharmaceuticals, which is plotting a new course after longtime partner Genentech decided against buying the company, Xconomy has learned. Keith Dionne, the … Continue reading “Constellation Pharma Plots IPO Run As Genentech Passes on Buyout Deal”

New CEO and $80M Later, Syndax Looks Prepped for Second IPO Try

If Syndax Pharmaceuticals’ latest financing is any indication, the Waltham, MA-based firm looks to have another shot at an initial public offering in mind. Syndax has closed a $80 million Series C financing round from a large swath of “crossover” investors that back both public and private companies. Several of the firms in Syndax’s financing … Continue reading “New CEO and $80M Later, Syndax Looks Prepped for Second IPO Try”

Versant Walks Biotech “High Line” With a New Manhattan Incubator

Versant Ventures is about to launch its latest biotech incubator. And it’s picked the emerging New York life sciences scene as its home. This morning, Versant, the San Francisco Bay Area VC firm, is announcing the formation of what’s being called “Highline Therapeutics.” Named after the elevated walkway and park that runs along the lower … Continue reading “Versant Walks Biotech “High Line” With a New Manhattan Incubator”

In New York, A Digital Health ‘Mashup’ Builds A Startup Army

[Corrected 8/24/15, 12:40 pm. See below.] The booming field of digital health means different things to different people. Even the president of StartUp Health, a New York-based firm that wants to help build 1,000 digital health startups—yes, literally—acknowledges his company is a little tough to define. “We’ve had a challenge with how people bin us … Continue reading “In New York, A Digital Health ‘Mashup’ Builds A Startup Army”

East Coast Biotech Roundup: WaVe, Shkreli, Intarcia & More

The top story in biotech this week was the FDA’s approval of the first drug meant to boost women’s sex drive. The controversial flibanserin (Addyi) had been rejected in the past by the agency, and even post-approval faces questions about potential safety issues, effectiveness, and potential market reach. Nonetheless, Valeant Pharmaceuticals quickly snapped up the … Continue reading “East Coast Biotech Roundup: WaVe, Shkreli, Intarcia & More”

WaVe Joins the Crossover Party With $66M Series B for RNA Drugs

Another week, another startup biotech that has amassed the type of investor group that can support an initial public offering. This time, it’s Boston-based WaVe Life Sciences. WaVe, a startup trying to develop so-called “stereopure” RNA drugs, today raised a $66 million Series B round from a group of crossover investors that back both private … Continue reading “WaVe Joins the Crossover Party With $66M Series B for RNA Drugs”

Aveo, Still Breathing, Cuts New Deal With Novartis

Aveo Oncology was all but left for dead a few years ago after an FDA advisory panel panned its experimental cancer drug, tivozanib. But the Cambridge, MA-based company showed a little life this morning, cutting a deal with Novartis that reflects some confidence in the types of things Aveo has been doing since. As is … Continue reading “Aveo, Still Breathing, Cuts New Deal With Novartis”

East Coast Biotech Roundup: Editas, Checkmate, Ovid & More

Investors in the broader biotech indices may have been losing money this week, but East Coast startups were finding it fairly easy to come by. A gene editing startup corralled $120 million and a portfolio of big-name investors. A scientist working for decades in the RNA drug space emerged with funding for his latest startup. … Continue reading “East Coast Biotech Roundup: Editas, Checkmate, Ovid & More”

To Fight “Superbugs,” Roche Shells Out $190M For Bay Area’s GeneWEAVE

Swiss cancer drug giant Roche has used acquisitions to beef up its diagnostics business over the past few years. And today marks the latest example: an agreement to buy a Bay Area startup in a deal that could be worth as much as $425 million. Roche is paying $190 million up front, and potentially another … Continue reading “To Fight “Superbugs,” Roche Shells Out $190M For Bay Area’s GeneWEAVE”

CRISPR Tx Adds Former McKinsey, Pfizer Execs to Management Team

CRISPR Therapeutics has added two executives to its management team. Former McKinsey and Co. partner Samarth Kulkarni is now the company’s chief business officer, and Michael Bruce, most recently a Pfizer executive, is CRISPR’s senior vice president of program portfolio and alliance management. CRISPR was formed in Basel, Switzerland, but recently opened up an office … Continue reading “CRISPR Tx Adds Former McKinsey, Pfizer Execs to Management Team”

Ex-Teva CEO’s Brain Disease Startup, Ovid, Bags $75M From Crossovers

Former Teva Pharmaceutical Industries CEO Jeremy Levin has been stealthily putting together startup Ovid Therapeutics over the past year, but today the company splashed onto the scene with a big round of financing from a broad range of investors. New York-based Ovid, a startup pursuing treatments for rare brain disorders like Angelman Syndrome, has raised … Continue reading “Ex-Teva CEO’s Brain Disease Startup, Ovid, Bags $75M From Crossovers”

CRISPR Race Heats Up As Gates, Crossovers Put $120M Into Editas

To this point, the technology known as CRISPR-Cas9 has been a science project, a research tool with enormous potential—and significant questions to answer—on which venture capitalists have placed bets by forming a group of startups. The jackpot: CRISPR-Cas9, a method of performing precise genetic surgery, might yield treatments for a wide array of previously intractable … Continue reading “CRISPR Race Heats Up As Gates, Crossovers Put $120M Into Editas”

East Coast Biotech Roundup: PrecisionFDA, Avitide, Foresight & More

It’s official: the mid-summer doldrums are here. Biotech news emerged in dribs and drabs on the East Coast this week, and investors gnashed their teeth as the greater indices took a nosedive. Nonetheless, we’ve got all your headlines below, starting with an ambitious government-backed project that could have a big impact on the U.S. healthcare … Continue reading “East Coast Biotech Roundup: PrecisionFDA, Avitide, Foresight & More”

Avitide Gets $7.6M More to Purify Complex Biologics

Tillman Gerngross made his name selling one of his startups, GlycoFi, to Merck, and later building a second one, Adimab, into a privately held business now reportedly worth more than $1 billion. That success has helped launch a group of startups tied to the Dartmouth College professor and his investors, among them Lebanon, NH-based Avitide, … Continue reading “Avitide Gets $7.6M More to Purify Complex Biologics”

Credit Suisse Banker Takes on CFO Role at Merrimack

Cambridge, MA-based Merrimack Pharmaceuticals (NASDAQ: [[ticker:MACK]]) has named Yasir Al-Wakeel its new chief financial officer and head of corporate development. Al-Wakeel, a former director of Credit Suisse’s healthcare investment banking team, replaces former CFO William Sullivan, who will serve as Merrimack’s head of finance and accounting going forward. He’s become the latest of a number of … Continue reading “Credit Suisse Banker Takes on CFO Role at Merrimack”

Epizyme Switches CEOs as Synageva’s Bazemore Steps in For Gould

Robert Gould, who has led Epizyme (NASDAQ: [[ticker:EPZM]]) for more than five years—from a venture-backed startup to a publicly traded entity—is stepping down as CEO of the Cambridge, MA-based company. Epizyme has named former Synageva Pharmaceuticals chief operating officer Robert Bazemore its new CEO, effective Sept. 10. Gould, a former Merck executive who has been … Continue reading “Epizyme Switches CEOs as Synageva’s Bazemore Steps in For Gould”

FDA Taps DNAnexus to Build Platform for Crowdsourcing Diagnostics

There is an FDA project underway that could help change the way molecular diagnostics are developed, evaluated, and regulated in the U.S. one day, should things go the way the agency intends. And Mountain View, CA-based DNAnexus is getting the first crack at building the platform at the plan’s heart. DNAnexus, the genomics analytics startup … Continue reading “FDA Taps DNAnexus to Build Platform for Crowdsourcing Diagnostics”

Ohr Shuffles Leadership, Names CMO Slakter New CEO

Jason Slakter has stepped in as the new CEO of Ohr Pharmaceuticals (NASDAQ: [[ticker:OHRP]]), replacing founder Irach Taraporewala in the head seat of the New York ophthalmics company. Slakter has been Ohr’s chief medical officer since last year, and was the CEO of SKS Ocular—a company Ohr bought in 2014 in a cash-and-stock deal—before that. … Continue reading “Ohr Shuffles Leadership, Names CMO Slakter New CEO”

Ex-Chelsea Tx CEO Oliveto Takes Head Seat at Galleon Pharma

Joseph Oliveto steered Charlotte, NC-based Chelsea Therapeutics to a $658 million sale to Danish drugmaker Lundbeck A/S in May 2014. Today, he’s resurfaced as the new CEO of Galleon Pharmaceuticals, a Horsham, PA-based developer of treatments for sleep apnea and other breathing-control disorders. Galleon’s previous CEO, James Mannion, has retired and will serve as a … Continue reading “Ex-Chelsea Tx CEO Oliveto Takes Head Seat at Galleon Pharma”

Shire Snaps up New York’s Foresight Bio in $300M Pink Eye Deal

How much is a new treatment for pink eye worth? For one on the verge of Phase 3 testing, about $300 million. That’s the figure Shire, the Ireland and Lexington, MA-based based rare disease specialist, has agreed to pay for a small New York-based biotech called Foresight Biotherapeutics, Shire announced this morning. Few details about … Continue reading “Shire Snaps up New York’s Foresight Bio in $300M Pink Eye Deal”

East Coast Biotech Roundup: Regeneron, Synergy, Foundation & More

Biotech was in recovery mode this week. After Biogen’s (NASDAQ: [[ticker:BIIB]]) disappointing quarterly results send the sector’s indices downward, investors looked to other industry stalwarts, like Gilead Sciences (NASDAQ: [[ticker:GILD]]), to right the ship (Gilead succeeded, as Alex Lash writes here). On the East Coast, a couple of New York biotechs helped the cause. Those … Continue reading “East Coast Biotech Roundup: Regeneron, Synergy, Foundation & More”

Synergy Hits Mark on Second Trial, Eyes Approval For Constipation Drug

It looks like Synergy Pharmaceuticals may have a drug on its hands. Shares of the New York-based company surged over 15 percent in pre-market trading this morning after its drug for chronic idiopathic constipation (CIC), plecanatide, hit all of its goals in the second of two Phase 3 trials. As with an earlier study in … Continue reading “Synergy Hits Mark on Second Trial, Eyes Approval For Constipation Drug”

Accelerate LI, Eyeing New Seed Fund, Debuts Ninth Grad: Envisagenics

It’ll be several years before we’ll know whether the efforts of Accelerate Long Island lead to successful, sustainable companies. But with the emergence of its latest graduate today, Envisagenics, Accelerate LI can now say it’s helped get nine startups hailing from Long Island’s research institutions off the ground. Accelerate LI and its strategic partner, the … Continue reading “Accelerate LI, Eyeing New Seed Fund, Debuts Ninth Grad: Envisagenics”

Sanofi, Regeneron Set Sights on Immuno-Oncology With New $2B+ Pact

Regeneron Pharmaceuticals has risen to prominence in part by working with Sanofi to develop drugs for a number of diseases, most recently high cholesterol. Now the two are trying their hands at biotech’s hottest, and most crowded field, immuno-oncology, through a new wide-ranging deal that will see the two companies jointly invest more than $2 … Continue reading “Sanofi, Regeneron Set Sights on Immuno-Oncology With New $2B+ Pact”

Beer Out as Struggling Aegerion Shuffles Leadership Ranks

It’s been a tumultuous few years for Aegerion Pharmaceuticals, marred by a stalled drug launch, the rise of new competitors, and a plummeting stock. And today its embattled CEO is leaving the company. Cambridge, MA-based Aegerion (NASDAQ: [[ticker:AEGR]]) said this morning that CEO Marc Beer has resigned, effective immediately. Chief operating officer Craig Fraser is … Continue reading “Beer Out as Struggling Aegerion Shuffles Leadership Ranks”

East Coast Biotech Roundup: Biogen, RaNA, Inotek, Disruptors & More

This week offered a reminder of how quickly success can come and go in biotech. One of the Boston area’s stalwart biotechs saw its stock land right back where it had been last year before a short-lived boom; another had its coming out party on Wall Street after some good news from the FDA. Those … Continue reading “East Coast Biotech Roundup: Biogen, RaNA, Inotek, Disruptors & More”

“Boston’s Life Science Disruptors” to Share Their Stories on Sept. 30

The concept of “disruption” has become a buzzword in biotech, a term signifying the dreams of companies looking to make a big impact on the world of healthcare. Yet that type of risk-taking and innovation typifies the startup biotech, where the odds are stacked against you and the road to success is long, costly, and … Continue reading ““Boston’s Life Science Disruptors” to Share Their Stories on Sept. 30”

RaNA CEO Renaud Turns To A Former Backer To Lead $55M Series B

Tiny biotech RaNA Therapeutics brought in Wall Street-savvy CEO Ronald Renaud last year, and today the startup announced its biggest round of funding to date led by an investor whose past ties to Renaud ended with a surprising and lucrative exit. Under Renaud, Cambridge, MA-based RaNA has raised a $55 million Series B round, its … Continue reading “RaNA CEO Renaud Turns To A Former Backer To Lead $55M Series B”

With New Alzheimer’s Data, Biogen Refines Plans For Big Trial

Despite the billions of dollars poured into Alzheimer’s disease research, the disorder remains a biological riddle with no cure. That’s why even hints of progress—encouraging signs in early studies, for example—garner so much attention. And that’s why an update from an experimental drug from Biogen is front and center this morning. Today, at the annual … Continue reading “With New Alzheimer’s Data, Biogen Refines Plans For Big Trial”

Former Roche, Alexion Execs Head to Ophthotech

New York-based Ophthotech (NASDAQ: [[ticker:OPHT]]) today named former Roche ophthalmology executive David Shima its chief scientific officer. Shima also once worked at Eyetech Pharmaceuticals, which was founded many years ago by current Ophthotech executives. In addition, Ophthotech hired Henric Bjarke, formerly of Alexion Pharmaceuticals (NASDAQ: [[ticker:ALXN]]), as its chief commercial officer.      

The Near Death, and Second Life, of Cerulean Pharma

It’s not often that a biotech with a single drug in clinical testing can bounce back from a trial that not only fails, but bombs spectacularly. But by the skin of its teeth, Cerulean Pharma has gotten that chance. Over the next year, Cerulean (NASDAQ: [[ticker:CERU]]) will produce data from four early and mid-stage clinical … Continue reading “The Near Death, and Second Life, of Cerulean Pharma”

East Coast Biotech Roundup: Flagship, SQZ, Epizyme, IPOs & More

We’ve got a new site launch, local IPOs, and much more to dig through in this week’s roundup. But first, a programming note to you Xconomy readers: I’ll be away on a long break, returning in late July. In the meantime, stay tuned to Alex Lash and David Holley, who will take the lead on … Continue reading “East Coast Biotech Roundup: Flagship, SQZ, Epizyme, IPOs & More”

Genzyme Vet McGorry Steps in as New CEO of Harvard Apparatus

James McGorry, a 12-year veteran of Genzyme, has been named the new CEO of Holliston, MA-based Harvard Apparatus Regenerative Technology (NASDAQ: [[ticker:HART]]). HART has been searching for a new CEO since founding executive David Green resigned in April, saying in a statement that “the time was right to bring in a new CEO who has … Continue reading “Genzyme Vet McGorry Steps in as New CEO of Harvard Apparatus”

Retooled Catabasis Cuts Price, Upsizes to Grab $60M in IPO

Catabasis Pharmaceuticals has done some strategic tinkering over the past few years, and the Cambridge, MA-based company did a bit more maneuvering on Wednesday to price its IPO. Catabasis is set to debut on the Nasdaq this morning after raising $60 million in an IPO. It had to sell more shares at a lower price … Continue reading “Retooled Catabasis Cuts Price, Upsizes to Grab $60M in IPO”

Eleven Bio CFO Perry Heads to Aegerion

Former Eleven Biotherapeutics (NASDAQ: [[ticker:EBIO]]) chief financial officer Gregory Perry has been named the new CFO of Aegerion Pharmaceuticals (NASDAQ: [[ticker:AEGR]]). Aside from Eleven Bio, Perry has also served in executive roles at InVivo Therapeutics, ImmunoGen, and Transkaryotic Therapeutics.    

Starr Out, Tessier-Lavigne in as Agios Chairman

Third Rock Ventures partner Kevin Starr decided not to stand for re-election as the chairman of Cambridge, MA-based Agios Pharmaceuticals (NASDAQ: [[ticker:AGIO]]), a company he helped found in 2007. At a shareholder meeting today, Rockefeller University president Marc Tessier-Lavigne was named Starr’s replacement. Tessier-Lavigne was already chairing Agios’s compensation committee. He’s also the chairman of … Continue reading “Starr Out, Tessier-Lavigne in as Agios Chairman”

Epizyme Shares Climb on New Data for Cancer Drug

Back in March, Epizyme regained most of the rights to a drug it’s been developing for a wide array of cancers. There’s still a long way to go, but the move appears prescient given some of the signs the Cambridge, MA-based company is seeing in early clinical trials. This past weekend, Epizyme (NASDAQ: [[ticker:EPZM]]) offered … Continue reading “Epizyme Shares Climb on New Data for Cancer Drug”

Flagship CEO on Backing NY Biotech, Moderna, and Investing in a Boom

It’s been a jam-packed few months for Flagship Ventures, one of the Boston area’s most well-known biotech startup creators. The Cambridge, MA-based VC firm just raised a $537 million fund of its own, and recently became a founding investor in the eye-popping $217 million Series A for Denali Therapeutics, a startup led by a group … Continue reading “Flagship CEO on Backing NY Biotech, Moderna, and Investing in a Boom”

Ex-AstraZeneca Exec Morrison Grabs Helm at Syndax Pharma

Waltham, MA-based Syndax Pharmaceuticals named former AstraZeneca chief medical officer Briggs Morrison its new CEO, and Michael Metzger, onetime Regado Biosciences president and CEO, its new president. Morrison and and Metzger are replacing former leader Arlene Morris—whose name was conspicuously absent from the news release. FierceBiotech first reported news of Morrison’s departure from AstraZeneca last … Continue reading “Ex-AstraZeneca Exec Morrison Grabs Helm at Syndax Pharma”

East Coast Biotech Roundup: Emulate, Pulmatrix, Synergy & More

My West Coast counterpart is crowing this week about an NBA championship for his beloved Golden State Warriors, who ended a 40-year title drought this week by toppling LeBron James and the Cleveland Cavaliers. Meanwhile, the dry spell continues for my sorry New York Knicks, who last hoisted the Larry O’Brien trophy when current president … Continue reading “East Coast Biotech Roundup: Emulate, Pulmatrix, Synergy & More”