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.

With J&J Deal, Emulate Nabs First Partner For Organ on Chip Tech

If microchip systems that act like organs are ever going to really change preclinical drug development, it’s going to happen one experiment—and Big Pharma adopter—at a time. Emulate is trying to take on that challenge, and today it’s gotten its first supporter, Johnson & Johnson. Cambridge, MA-based Emulate, the “organ-on-a-chip” startup spun out of Harvard … Continue reading “With J&J Deal, Emulate Nabs First Partner For Organ on Chip Tech”

Aerie Surges As FDA Agrees to New Goals for Glaucoma Trial

Aerie Pharmaceuticals took a big step back earlier this year when its glaucoma drug came up short in the first of a few Phase 3 trials. But the Bedminster, NJ-based company still has a shot to bounce back, and got some needed news from the FDA that could help. Aerie (NASDSAQ: [[ticker:AERI]]) said late Monday … Continue reading “Aerie Surges As FDA Agrees to New Goals for Glaucoma Trial”

After Reinvention, Pulmatrix Wraps Up Ruthigen Deal, Heads to Nasdaq

In a friendly IPO market for biotechs, going public the other way—reverse merging with a shell company—is understandably the path less trodden. But after a strategic reinvention, it was the best road forward for Lexington, MA-based Pulmatrix. Today, Pulmatrix will begin trading on the Nasdaq under the ticker symbol “PULM.” It’s completed a previously announced … Continue reading “After Reinvention, Pulmatrix Wraps Up Ruthigen Deal, Heads to Nasdaq”

East Coast Biotech Roundup: XTuit, Spero, Unum, RNAi Feud & More

New startups. New data. Financings. Acquisitions. Legal tussles. FDA advisory panels. It’s been that kind of week in East Coast biotech. So grab some coffee and let’s roll through this week’s headlines. —This week a new type of cholesterol-lowering drug was in the spotlight, a class of injectable therapies that block the protein known as … Continue reading “East Coast Biotech Roundup: XTuit, Spero, Unum, RNAi Feud & More”

With $2M, Codagenix Becomes Accelerate LI’s First VC-Backed Grad

Accelerate Long Island’s main mission has been to turn the science at its nearby research institutions into full-fledged companies with venture investors of their own. With a small funding round being announced today, Codagenix has become the first one of those projects that can make that claim. Codagenix has raised a $2 million Series A … Continue reading “With $2M, Codagenix Becomes Accelerate LI’s First VC-Backed Grad”

IPO “On the Horizon” for Unum After $65M Series B, CEO Says

It’s been quite a week for Unum Therapeutics. Just three days after inking its first partnership, the emerging cellular immunotherapy startup has bagged its biggest funding round to date, and an initial public offering may not be far behind. Cambridge, MA-based Unum this morning raised a $65 million Series B round from a large group … Continue reading “IPO “On the Horizon” for Unum After $65M Series B, CEO Says”

XTuit Gets $22M From NEA, Polaris to Battle Cancer, Liver Disease

Call it ground zero in a patient’s battle with cancer: the tumor microenvironment, the tissue around a cancerous cell that gets tricked into doing its bidding. That critical terrain is becoming the focus of a lot of fresh ideas for scientists—and one of them is taking shape today, with the emergence of a startup called … Continue reading “XTuit Gets $22M From NEA, Polaris to Battle Cancer, Liver Disease”

Good Times Roll on for Biotech VCs As Clarus Bags New $500M Fund

Take a poll of most of biotech’s venture capitalists—the ones that survived the financial crash, anyway—and you might find that just about all of them have reloaded with new funds over the past few years. Today, you can add Clarus Ventures to the list. Clarus—a VC firm with offices in the bi-coastal biotech hotbeds of … Continue reading “Good Times Roll on for Biotech VCs As Clarus Bags New $500M Fund”

Seattle Genetics Pays $25M to Buy Into Unum’s Souped-Up T-Cell Therapy

Unum Therapeutics started up last year with its own twist on the increasingly crowded field of cellular immunotherapy. Today, that plan got a stamp of support from Seattle Genetics. SeaGen (NASDAQ: [[ticker:SGEN]]) has agreed to team up with Cambridge, MA-based Unum in a broad deal to use the former’s antibodies with Unum’s cellular immunotherapy technology … Continue reading “Seattle Genetics Pays $25M to Buy Into Unum’s Souped-Up T-Cell Therapy”

With $30M, Spero Broadens Fight Against Drug-Resistant Bugs

It’s no secret that there’s a huge need for more effective antibiotics. The number of bacteria evolving and evading current treatments continues to grow, and government agencies are trying to lend a helping hand. Spero Therapeutics has taken notice, and that’s why it’s thinking more broadly these days about the company it aims to become. … Continue reading “With $30M, Spero Broadens Fight Against Drug-Resistant Bugs”

Vertex Teams up With Durham’s Parion in $80M Lung Drug Deal

Vertex Pharmaceuticals has reshaped itself into a cystic fibrosis powerhouse the past few years. Today, it’s trying to add to that position by teaming up with a biotech out of Durham, NC, on some experimental drugs for the devastating disorder—and perhaps for other lung diseases as well. Boston-based Vertex (NASDAQ: [[ticker:VRTX]]) said this afternoon it’ll … Continue reading “Vertex Teams up With Durham’s Parion in $80M Lung Drug Deal”

Celgene, Bluebird Streamline CAR-T Partnership To Fight Myeloma

The immuno-oncology field is moving fast these days, but the tough-to-treat blood cancer multiple myeloma has not been one of its early targets. Biotech partners Bluebird Bio and Celgene would like to change that. The partners said today they would narrow the focus of their ongoing collaboration and go after multiple myeloma. Specifically, they want … Continue reading “Celgene, Bluebird Streamline CAR-T Partnership To Fight Myeloma”

Celldex Builds Case for Brain Cancer Vaccine With New ASCO Data

Celldex Therapeutics grabbed the spotlight late last year when an experimental vaccine it’s been developing helped extend the lives of some patients with an aggressive, deadly form of brain cancer. In an update to that study today, Celldex is circling back with similarly positive results—and is now trying to figure out what it’ll take to … Continue reading “Celldex Builds Case for Brain Cancer Vaccine With New ASCO Data”

East Coast Biotech Roundup: Seres, Editas, PureTech, Pronutria & More

Call it the calm before the storm. All eyes in biotech this weekend will turn to the year’s big cancer meeting, the American Society of Clinical Oncology’s annual bash in Chicago. There’ll be plenty of data to parse through over the next few days, as cancer immunotherapy once again takes center stage and hordes of … Continue reading “East Coast Biotech Roundup: Seres, Editas, PureTech, Pronutria & More”

Sharpening Its Focus On Drugs, Pronutria Bags $39M From Fidelity, Flagship

Pronutria looks a little different today than the startup that emerged from stealth in 2013. It’s added “Biosciences” to the end of its name to reflect a shift in strategy. Its research team is now run by a former star scientist at Vertex Pharmaceuticals. And today, it landed its biggest round of funding yet. Pronutria … Continue reading “Sharpening Its Focus On Drugs, Pronutria Bags $39M From Fidelity, Flagship”

Retrophin Turns Asklepion Voucher Into $245M Sanofi Payday

File this one under shrewd dealmaking: Less than three months after buying a small drugmaker in Baltimore, MD, Retrophin has already made its money back—and then some. New York- and San Diego, CA-based Retrophin (NASDAQ: [[ticker:RTRX]]) this morning sold what’s known as a priority review voucher to French drugmaker Sanofi in a deal worth $245 … Continue reading “Retrophin Turns Asklepion Voucher Into $245M Sanofi Payday”

To Back Startups, PureTech Heads Across the Pond For $160M London IPO

PureTech got the financial support of a big U.K. investment manager last year. Now the Boston firm wants the backing of a whole other group of London investors too. PureTech, the creator of a slew of local startups at the nexus of healthcare and technology, this morning filed papers to go public in England. It’s … Continue reading “To Back Startups, PureTech Heads Across the Pond For $160M London IPO”

East Coast Biotech Roundup: Bluebird, Sarepta, Synlogic & More

This week’s headlines are all about second chances and new beginnings. A gene therapy company that survived on bridge loans many years ago is now one of biotech’s biggest stars. A company developing a therapy for Duchenne Muscular Dystrophy is starting to win back investor confidence after a tumultuous year. And a former Pfizer executive … Continue reading “East Coast Biotech Roundup: Bluebird, Sarepta, Synlogic & More”

So Far, So Good in Bluebird’s First Glimpse of Sickle Cell Data

Sickle cell is a rare disease; a blood disorder with no effective treatments affecting around 300,000 new patients across the globe every year. While those numbers seem small compared to millions of folks with cardiovascular problems or cancer, they’re monstrous in the context of gene therapy—when, potentially, a single shot could not only wipe out … Continue reading “So Far, So Good in Bluebird’s First Glimpse of Sickle Cell Data”

Ex-Pfizer Exec Gutierrez-Ramos to Lead Synlogic’s “Smart Bug” Plan

Synlogic has already attracted some $35 million from investors on both coasts, including the Bill & Melinda Gates Foundation, to pursue a science fiction-like idea to make customized disease-killing bacteria. Now, the Cambridge, MA-based startup has brought in a well-known former Pfizer executive to lead its first programs into clinical testing. Jose-Carlos Gutierrez-Ramos today is … Continue reading “Ex-Pfizer Exec Gutierrez-Ramos to Lead Synlogic’s “Smart Bug” Plan”

Bluebird, Regulators Map Out Approval Plan For Gene Therapy

One of gene therapy’s major unanswered questions is just what it’ll take to convince U.S. regulators to approve one of these treatments. With a gene therapy that’s already produced promising results in a few patients in clinical trials, Bluebird Bio has a chance to pave the way. And today it’s cut a deal with the … Continue reading “Bluebird, Regulators Map Out Approval Plan For Gene Therapy”

Eleven Bio’s Shares Routed as Dry Eye Drug Flunks Phase 3 Test

Eleven Biotherapeutics has been trying to show that it’s got a prospective rival to Allergan’s blockbuster dry eye disease drug, Restasis, in the works. The results that have come back from the Cambridge, MA-based company’s first big test, however, indicate otherwise. Eleven (NASDAQ: [[ticker:EBIO]]) said this morning that its lead drug, EBI-005, failed both primary … Continue reading “Eleven Bio’s Shares Routed as Dry Eye Drug Flunks Phase 3 Test”

East Coast Biotech Roundup: Vertex, Moderna, Sage, ASCO & More

Memorial Day is just around the corner, and in biotech that doesn’t just mean barbecues; it means the year’s big cancer meeting, the American Society of Clinical Oncology’s (ASCO) annual bash in Chicago, is on tap. There’s still some time before the festivities, however, so don’t fire up those grills just yet. We’re looking back … Continue reading “East Coast Biotech Roundup: Vertex, Moderna, Sage, ASCO & More”

After Shift to Duchenne and Cholesterol Drugs, Catabasis Files For IPO

Catabasis Pharmaceuticals appeared headed for the Nasdaq a few years ago when it brought in some investors known better for backing public companies than biotech startups. The Cambridge, MA-based company has since done some strategic tinkering, however, and now finally appears ready to take the plunge. Catabasis outlined plans yesterday for an IPO to advance … Continue reading “After Shift to Duchenne and Cholesterol Drugs, Catabasis Files For IPO”

Sage Preps For Final Test As Epilepsy Drug Holds Up in Small Study

The patient numbers keep growing for Sage Therapeutics, but, at least for now, the story is the same—its experimental epilepsy drug remains promising. Now comes the hard part: testing it in a big, randomized, placebo-controlled trial. Cambridge, MA-based Sage (NASDAQ: [[ticker:SAGE]]) is announcing the full results from a Phase I/II trial of its lead drug, … Continue reading “Sage Preps For Final Test As Epilepsy Drug Holds Up in Small Study”

Gelesis, PureTech’s Weight-Loss Hopeful, Postpones IPO

Gelesis gobbled up some cash from private investors just a few months ago. But it looks like public investors don’t have the same type of appetite for the Boston startup’s hydrogel weight-loss pills. According to research firm Renaissance Capital, Gelesis has postponed its planned initial public offering. Gelesis had been hoping to sell 4 million … Continue reading “Gelesis, PureTech’s Weight-Loss Hopeful, Postpones IPO”

Selecta Takes Nanotech to Gene Therapy, Celiac With New Deals

Selecta Biosciences looks to have found two new potential niches for its nanoparticle technology. The Watertown, MA-based company is announcing two deals this morning. First, Selecta said that Sanofi has chosen to license a potential immunotherapy treatment for celiac disease, the allergic disorder that renders people unable to digest gluten. Sanofi got the option as … Continue reading “Selecta Takes Nanotech to Gene Therapy, Celiac With New Deals”

FDA Panel Backs Vertex’s Two-Drug Combo For Cystic Fibrosis

An FDA advisory panel this afternoon recommended approval of a new combination treatment for cystic fibrosis from Vertex Pharmaceuticals, potentially paving the way for billions of dollars in future sales if the agency ultimately approves the drug. The panel of outside experts voted 12 to 1 in favor of a CF therapy Boston-based Vertex (NASDAQ: … Continue reading “FDA Panel Backs Vertex’s Two-Drug Combo For Cystic Fibrosis”

Moderna’s Third mRNA Startup, Elpidera, Sets Sights on Rare Diseases

With $900 million in the bank, three pharma partners, and the shareholder base of a large publicly traded company—all well before its first clinical trial–Moderna is no typical biotech. In fact, it wouldn’t be wrong to call it part-biotech, part-startup incubator. Witness today’s news: Moderna has launched a new company called Elpidera to target rare … Continue reading “Moderna’s Third mRNA Startup, Elpidera, Sets Sights on Rare Diseases”

East Coast Biotech Roundup: NY Bio, Synageva, Kadmon & More

Innovation clusters are built from the ground up. It’s a painstaking process, and takes years of work, a whole lot of money, and perhaps some luck to make them a reality. I’ve been chronicling that effort by New York biotech for a few years now, and a meeting in Manhattan this week produced a good … Continue reading “East Coast Biotech Roundup: NY Bio, Synageva, Kadmon & More”

Ex-AstraZeneca Exec to Lead Surface’s “Next-Gen” Immuno-Oncology Plan

Say “immuno-oncology” and investors come running these days. That’s because despite all of the advances biotechs have made harnessing the immune system to deal with cancer, there is still much we don’t understand about how the disease disarms our body’s defenses—and plenty to gain for those who can figure it out. No surprise, then, that … Continue reading “Ex-AstraZeneca Exec to Lead Surface’s “Next-Gen” Immuno-Oncology Plan”

Alexion Shells Out $8.4B for Synageva In Rare Disease Mega-Deal

Got a wholly owned drug for a rare disease in late-stage testing? In biotech, that often makes you a buyout target. Witness Synageva Biopharma, which is about to be acquired by Alexion Pharmaceuticals for more than twice what it was worth just a day ago. Alexion, the rare disease drugmaker from Cheshire, CT, has agreed … Continue reading “Alexion Shells Out $8.4B for Synageva In Rare Disease Mega-Deal”

Big Apple Biotech “Bootstraps” Forward at NewYorkBio Meeting

Tom Cirrito was dining out at a Mexican restaurant in midtown Manhattan over a decade ago when he overheard something that piqued his interest. At a table next to him, someone was talking about biotech. Cirrito, then an analyst at Piper Jaffray, was intrigued. He butted in, and his life changed. His restaurant neighbor was … Continue reading “Big Apple Biotech “Bootstraps” Forward at NewYorkBio Meeting”

East Coast Biotech Roundup: Celgene, Blueprint(s), Intarcia & More

One of East Coast biotech’s preeminent dealmakers was on the march this week: it agreed to one buyout, nabbed an option for another one, invested in an emerging field of science, and expanded its marriage with a high-flying partner—all before reporting its quarterly earnings on Thursday. Eager to find out who it is? Read on … Continue reading “East Coast Biotech Roundup: Celgene, Blueprint(s), Intarcia & More”

With $46M Haul, MyoKardia Becomes Third Rock’s Latest IPO Prospect

MyoKardia got a stamp of validation with its first partnership last year. Now it’s become the latest in a string of biotechs to bring some “crossover” investors to the table. The South San Francisco, CA-based startup, which is developing targeted drugs for certain forms of heart disease, has bagged a $46 million Series B round. … Continue reading “With $46M Haul, MyoKardia Becomes Third Rock’s Latest IPO Prospect”

Blueprint Medicines Bags $147M in Upsized IPO

Blueprint Medicines of Cambridge, MA, is the latest biotech to raise more cash than expected in an IPO. The developer of experimental cancer therapies sold 8.15 million shares at $18 apiece Wednesday evening, bringing in nearly $147 million, according to research firm Renaissance Capital. Last week, Blueprint projected it would sell 7.2 million shares at … Continue reading “Blueprint Medicines Bags $147M in Upsized IPO”

Ariad Searches For New Leader As Berger Steps Down, Ending Proxy Battle

Harvey Berger founded Ariad Pharmaceuticals, ran it for more than two decades, and stayed in charge even as the Cambridge, MA-based company’s fortunes turned sour a few years ago. Today, however, Berger has reached the end of that long, controversial road. Ariad (NASDAQ: [[ticker:ARIA]]) said this morning that Berger will retire as its chairman and … Continue reading “Ariad Searches For New Leader As Berger Steps Down, Ending Proxy Battle”

Intarcia, Still Private, Nabs $225M More For Diabetes Device

Few biotech startups have been as prolific as Intarcia Therapeutics at raising cash from private investors. And even with its implantable diabetes device in the midst of a massive, risky clinical trial, the Boston-based company still isn’t turning to Wall Street yet to keep its coffers full. Intarcia said late Monday night that it’s closed a … Continue reading “Intarcia, Still Private, Nabs $225M More For Diabetes Device”

Blueprint, Now With 60 Startups, Debuts Latest Healthtech Crop

The numbers are quickly growing for Blueprint Health. Some four years into its existence, Blueprint—the New York City-based healthtech startup incubator—has now helped launch 60 companies. That includes the seven that debuted on Friday at the latest Blueprint demo day at the City Winery in SoHo. The new group, toting digital health solutions for insurance … Continue reading “Blueprint, Now With 60 Startups, Debuts Latest Healthtech Crop”

East Coast Biotech Roundup: Forum, Crossovers, Immuno-Oncology & More

It was marathon Monday this week in Boston, but East Coast biotech executives were running around all week. There was a big cancer meeting in Philadelphia, a neurology shindig in Washington DC, and a liver conference that just kicked off in Europe. And the usual spate of financings and deals for a bunch of local … Continue reading “East Coast Biotech Roundup: Forum, Crossovers, Immuno-Oncology & More”

Aerie Craters As Glaucoma Drug Comes up Short in Phase 3

Aerie Pharmaceuticals revealed this afternoon the first results from a group of late-stage trials for its glaucoma drug, and unfortunately for the Bedminster, NJ-based company, they don’t look pretty. The drug, known as Rhopressa, failed the primary goal of Aerie’s (NASDAQ: [[ticker:AERI]]) study. It didn’t do a better job of lowering intra-ocular pressure than timolol, … Continue reading “Aerie Craters As Glaucoma Drug Comes up Short in Phase 3”

Crossovers Arm Jounce With $56M For “Next Step” Immuno-Oncology

There’s an immuno-oncology frenzy going on in biotech, but with a lot of attention comes competition. Plenty of companies will be left out when all is said and done. That’s why Cambridge, MA-based Jounce Therapeutics is trying to think a step ahead, and find some places in the field that aren’t as crowded as of … Continue reading “Crossovers Arm Jounce With $56M For “Next Step” Immuno-Oncology”

Dunsire, Forum Pharma Look Beyond Fidelity For Big Alzheimer’s Push

Alzheimer’s disease is a minefield for drug developers. Despite billions of dollars invested by biotechs and pharmaceutical companies, a number of programs have blown up in clinical testing over the past decade. Can a star CEO march the rechristened Forum Pharmaceuticals through that treacherous terrain? Since July 2013, Forum has been helmed by Deborah Dunsire, … Continue reading “Dunsire, Forum Pharma Look Beyond Fidelity For Big Alzheimer’s Push”

ImmuneXcite Enlists Body’s First Defender for Immune Attack on Cancer

Immuno-oncology is all the rage these days, and it’s easy to see why. Breakthroughs in harnessing the power of our body’s natural defenses are unlocking new ways to fight cancer, and producing some of the most promising results the field has seen to date. But it’s not as if someone has magically cracked the code … Continue reading “ImmuneXcite Enlists Body’s First Defender for Immune Attack on Cancer”

Gene Therapy Upstart Dimension Nabs $65M From “Crossover” Backers

The race is on to be the first to market with a gene therapy for hemophilia. And one of the entrants just got a big round of funding in what looks like a prelude to an initial public offering. Cambridge, MA-based Dimension Therapeutics has raised a $65 million Series B round from a group of … Continue reading “Gene Therapy Upstart Dimension Nabs $65M From “Crossover” Backers”

Alnylam RNAi Drug Holds Up After Year of Treatment in Small Study

Alnylam Pharmaceuticals been saying for a few years now that its lead RNA interference drug can reduce the levels of a protein responsible for a rare, crippling nerve condition known as familial amyoidotic neuropathy, or FAP. But knocking down, or “silencing” genes that create harmful proteins isn’t enough to prove that a drug works. In … Continue reading “Alnylam RNAi Drug Holds Up After Year of Treatment in Small Study”

Now Biotech-Only, Atlas Reloads With $280M Fund For New Startups

It’s been a transition year for Atlas Venture. Last October, the Cambridge, MA-based firm announced its tech and biotech teams would part ways and raise their own funds. The biotech group, which kept the Atlas name, has just settled into its new digs in the heart of Kendall Square, Cambridge’s biotech epicenter. It is also … Continue reading “Now Biotech-Only, Atlas Reloads With $280M Fund For New Startups”

Levin Steps in as Ovid CEO, Confirms Plan to Target Rare Neuro Diseases

Ovid Therapeutics finally had its official launch this morning, confirming what we thought we knew about the once-stealthy startup and filling in a few additional details. Chief among them: former Teva Pharmaceutical CEO Jeremy Levin has returned to biotech to lead New York-based Ovid. Levin has been the chairman of Ovid since October, and he’ll … Continue reading “Levin Steps in as Ovid CEO, Confirms Plan to Target Rare Neuro Diseases”