[Updated, 11:19 am ET, see below] It’s been a big few months for Voyager Therapeutics. First, it landed a partnership with Genzyme, a deal that included a $65 million up front check for the gene therapy startup. Now it’s got $60 million more to play with, and an investor syndicate that’s starting to look like … Continue reading “Hunting for an IPO? Voyager Gets $60M From “Crossover” Backers”
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.
Blend Therapeutics Taps Former Clinical Data Chief Fromkin As New CEO
When Blend Therapeutics reshaped itself and raised cash earlier this year, it hinted some of those dollars would help bring on a full-time top executive. The Watertown, MA, startup is checking that box today, naming Drew Fromkin its president and CEO. Fromkin was the leader of Clinical Data of Newton, MA, which he helped revamp … Continue reading “Blend Therapeutics Taps Former Clinical Data Chief Fromkin As New CEO”
East Coast Biotech Roundup: Cellectis, Bristol, What’s Hot & More
We’re going on a biotech road trip this week, from the Garden State to Beantown. Just after finding the venture backers for a $150 million life sciences fund, New York biotech got another jolt with the arrival of a high-profile French company. A startup in New Jersey grabbed over $70 million and looks poised for … Continue reading “East Coast Biotech Roundup: Cellectis, Bristol, What’s Hot & More”
Seven Takeaways From “What’s Hot in Boston Biotech”
Sure, things may look great now, but it wasn’t long ago that Kendall Square was a biotech ghost town—and the good times might come to an end if we’re not careful. Meanwhile, gene therapy, cell therapy, and microbiome research look poised to make an impact on healthcare—just don’t overlook the hurdles that remain, or underestimate … Continue reading “Seven Takeaways From “What’s Hot in Boston Biotech””
Edge Brings in VC Backers, Gets $72.5M For Head Injury Drug
With former Celgene CEO Sol Barer and famed MIT professor Bob Langer among its advisors and directors, Edge Therapeutics has always had some star power behind it. Now the Berkeley Heights, NJ-based startup has a big investor syndicate too. Edge revealed today that it’s closed two different financing rounds together worth about $72.5 million: a … Continue reading “Edge Brings in VC Backers, Gets $72.5M For Head Injury Drug”
Alzheon Gets $10M to Take Castoff Alzheimer’s Drug Into Pivotal Test
Run by a veteran of drug R&D for Alzheimer’s disease, Alzheon is betting that a smart trial design and a little chemistry work could turn a failed drug for the memory-robbing disorder into a success. The company now has its first round of financing to test that theory on a revamped version of tramiprosate, which … Continue reading “Alzheon Gets $10M to Take Castoff Alzheimer’s Drug Into Pivotal Test”
Gene Therapy’s Rebirth Continues With Bristol, UniQure Cardio Deal
There’s no doubt at this point that gene therapy research, after a decade proceeding in relative obscurity, is back. A host of companies are racing to find the best way to harness the science to treat hemophilia, for instance. But a deal this morning between Bristol-Myers Squibb and UniQure focuses on a wider set of … Continue reading “Gene Therapy’s Rebirth Continues With Bristol, UniQure Cardio Deal”
East Coast Biotech Roundup: NY Bio Fund, Sarepta, ZappRx, & More
Biotech clusters don’t happen overnight. Entrepreneurs, government agencies, academics, and others have to build them from the ground up. It takes years, a committed, collaborative effort, and an awful lot of money. That’s the kind of thing that’s going on in New York right now. There’s a long, long way to go, of course—Boston and … Continue reading “East Coast Biotech Roundup: NY Bio Fund, Sarepta, ZappRx, & More”
ZappRx Nabs $5.6M, Inks Zafgen Deal to E-Prescribe Obesity Meds
One of the many challenges startups face is finding the right niche for a business. After a few years of navigating choppy waters, ZappRx may be on its way to smoother sailing—as evidenced by some news the Boston startup is disclosing today. ZappRx is making two announcements. First, the company—which is developing a way to … Continue reading “ZappRx Nabs $5.6M, Inks Zafgen Deal to E-Prescribe Obesity Meds”
Days After $22M Raise, Gelesis Files for IPO
Gelesis may have raised $22 million just last week, but apparently it had more up its sleeve than just a private equity financing. The Boston-based startup filed papers this afternoon to go public. It intends to use the proceeds from the offering to fund ongoing clinical trials for the anti-obesity pill it’s developing, known as … Continue reading “Days After $22M Raise, Gelesis Files for IPO”
Garabedian’s Rocky Road at Sarepta Ends With Abrupt Resignation
[Updated, 8:55 am ET] It’s been a strange journey for Chris Garabedian. As the CEO of Sarepta Therapeutics, he steered the company from a biotech afterthought to one of Wall Street’s darlings, earning the support of a Duchenne Muscular Dystrophy patient community desperate for an effective treatment. Yet there’s been another, more controversial side to … Continue reading “Garabedian’s Rocky Road at Sarepta Ends With Abrupt Resignation”
Pivoting From IPO, Syndax Inks Combo Trial Deal With Merck
Syndax Pharmaceuticals sidestepped an IPO a few months back when it found its cancer drug, entinostat, might have a benefit it didn’t originally anticipate. Now the Waltham, MA-based company is putting that thesis to the test through a deal with Merck. The two companies announced this morning that they’ll run a Phase 1b/2 clinical trial … Continue reading “Pivoting From IPO, Syndax Inks Combo Trial Deal With Merck”
Arch, Flagship to Anchor NYCEDC’s $150M NY Biotech Fund
[Updated, 3/31/15, 3:35pm ET] New York biotech entrepreneurs have been asking the same question for years: How can Manhattan ever truly foster life sciences startups and build a biotech cluster when there just isn’t enough funding to go around for biotech startups in the city, or affordable lab space to grow them? Today, the New York … Continue reading “Arch, Flagship to Anchor NYCEDC’s $150M NY Biotech Fund”
East Coast Biotech Roundup: Hemophilia, Levin, Vertex, Semma & More
[Updated, 3/30/15, 8:20 am ET, see below] For those looking to get away from the broader biotech indices’ plummet this week (the Nasdaq Biotechnology Index (NASDAQ: [[ticker:IBB]]) fell 7 percent), we’ve got your comfort food here: a feature about gene therapy’s long quest to cure hemophilia, a scientific journey that began in the 1980s. We’ve … Continue reading “East Coast Biotech Roundup: Hemophilia, Levin, Vertex, Semma & More”
What’s Hot in Boston Biotech? Here’s the Agenda
There’s just a few weeks left before our annual biotech extravaganza in Boston. On April 8, we’ll be hosting “What’s Hot in Boston Biotech” at the Broad Institute of MIT and Harvard in Cambridge. We’ve put together a big lineup of executives, scientists, entrepreneurs, and investors across some of the hottest fields of life sciences … Continue reading “What’s Hot in Boston Biotech? Here’s the Agenda”
Gelesis Bags $22M More, Ramps Up Trials for Weight-Loss Pill
Over the past year, Gelesis has made the turn from concept to clinic, building up the first data for an anti-obesity pill made out of little particles that swell in the stomach, making a person feel full. With more trials looming, and a second product on the way, the bills are growing—and the Boston startup … Continue reading “Gelesis Bags $22M More, Ramps Up Trials for Weight-Loss Pill”
Ex-Teva CEO Levin Is Back With Startup Aimed at Rare Neuro Disorders
Jeremy Levin is best known for helping reshape Bristol-Myers Squibb, turning it from a lumbering conglomerate to a leaner oncology drugmaker. Levin parlayed that job into the head seat at Teva Pharmaceutical; there he launched a turnaround attempt that abruptly ended when he bowed out amidst some controversy less than two years later. Now, Levin … Continue reading “Ex-Teva CEO Levin Is Back With Startup Aimed at Rare Neuro Disorders”
Alexion Deal in Hand, Blueprint Readies IPO Pitch
[Corrected, 3/24/15, 1 pm ET, see below] Three weeks ago, Blueprint Medicines inked its first major pharma partnership. Now it wants to woo public investors, too. The Cambridge, MA-based company filed papers on Monday outlining plans for an initial public offering. Should Blueprint complete the IPO, it’ll trade on the Nasdaq exchange under the ticker … Continue reading “Alexion Deal in Hand, Blueprint Readies IPO Pitch”
ImmunoGen Surges on $440M Takeda Deal For “Smart Bomb” Cancer Drugs
ImmunoGen’s claim to fame has been its role in making a “smart bomb” cancer drug that Roche subsidiary Genentech sells for breast cancer. Now it’s hoping for a repeat performance with a new partner, Takeda. Waltham, MA-based ImmunoGen (NASDAQ: [[ticker:IMGN]]) cut a deal with Japan’s Takeda this morning that gives the Japanese firm exclusive rights … Continue reading “ImmunoGen Surges on $440M Takeda Deal For “Smart Bomb” Cancer Drugs”
Stop the Bleeding: Can Gene Therapy Finally Cure Hemophilia?
Ben Haugstad is 12 years old and loves Taekwondo. He’s been doing it for six years, and soon he’ll be a black belt. He also has a severe form of hemophilia. His body doesn’t produce the machinery needed to clot blood, and at any moment a bad tumble or a bruise could quickly turn into … Continue reading “Stop the Bleeding: Can Gene Therapy Finally Cure Hemophilia?”
With Data in Hand, Amicus Preps For Drug Filings in U.S., Europe
Back in 2013, Amicus Therapeutics was down in the dumps. It shelved an FDA application for its lead drug, a pill for a rare condition called Fabry Disease, and faced a long road—two trials to finish, and a lot of data to accrue. Two years later, Amicus has made it just about all the way … Continue reading “With Data in Hand, Amicus Preps For Drug Filings in U.S., Europe”
With Asklepion Deal, Retrophin Gets a New Drug—And a Voucher
It was a rough 2014 for Retrophin, which was busy moving on from its former CEO’s ouster. But things brightened up a bit this morning, as the company not only added a new drug to the fold, but also get ahold of an asset that’s been making waves in biotech over the past year—a so-called … Continue reading “With Asklepion Deal, Retrophin Gets a New Drug—And a Voucher”
New York’s Life Science Disruptors: The Photos
On Monday, I recapped our latest Big Apple biotech event, “New York’s Life Science Disruptors.” Today I’ve come back with the slideshow look at the action. In case you missed it, the event was a candid series of chats with key figures in different spectrums of New York biotech—startups, academics, established companies, and investors. As you … Continue reading “New York’s Life Science Disruptors: The Photos”
With $43M, Nimbus Sheds “Discovery” Tag, Heads to First Clinical Test
It’s always a big moment when a biotech makes the turn from lab experiments to real clinical testing. A startup from Cambridge, MA, is celebrating that turn with a name change, a shift in strategy, and a $43 million round of financing from three pharmaceutical companies. That startup is Nimbus Discovery, formed to use computer … Continue reading “With $43M, Nimbus Sheds “Discovery” Tag, Heads to First Clinical Test”
Six Takeaways From “New York’s Life Science Disruptors”
What’s it take to build a successful biotech in New York? Teamwork, perseverance—and perhaps getting Roy Vagelos, the longtime Merck CEO, to head your board of directors. That was just one of the many takeaways from our latest biotech event, “New York’s Life Science Disruptors.” The packed house at the Alexandria Center for Life Science … Continue reading “Six Takeaways From “New York’s Life Science Disruptors””
East Coast Biotech Roundup: Sync Project, Epizyme, Bristol & More
If you missed our latest biotech event, “New York’s Life Science Disruptors” this past Thursday, don’t worry—we’ve got you covered. This week we’ll post an overview of the festivities, complete with a slideshow look at the action. In the meantime, though, grab your Monday morning coffee and have a look at this past week’s East … Continue reading “East Coast Biotech Roundup: Sync Project, Epizyme, Bristol & More”
Epizyme Buys Back Control of Cancer Drug From Eisai For up to $110M
Throughout its history, Epizyme has always kept an eye on staying independent. When it was accumulating partnerships for its epigenetics research a few years ago, it made sure to preserve its ability to maneuver and keep some upside for its work. In a broad deal with Celgene for instance, it kept U.S. rights to a … Continue reading “Epizyme Buys Back Control of Cancer Drug From Eisai For up to $110M”
Music As Therapy? PureTech’s “Sync Project” Aims to Prove It
There’s an old lyric by Bob Seger about Rock and Roll: “That kind of music just soothes the soul.” Listen to an upbeat song while depressed, and you might forget your sorrows. Indeed, music has always seemed therapeutic. Now a new venture from Boston-based startup creator PureTech is going to try to prove it with … Continue reading “Music As Therapy? PureTech’s “Sync Project” Aims to Prove It”
Ocular’s Long-Lasting Eye Drug Tech Passes First Late-Stage Test
Eye drops are a pain. Depending on the type, they can sting the eyes or cause other side effects, and remembering to use them every day is a nuisance. Ocular Therapeutix is one of the companies trying to come up with an alternative—a sustained-release drug delivery device that’s implanted in the eye, and dissolves when … Continue reading “Ocular’s Long-Lasting Eye Drug Tech Passes First Late-Stage Test”
East Coast Biotech Roundup: Varmus, Bristol, Aerie, Aura & More
Big news in the oncology world this week, with much of the action on the East Coast. The National Cancer Institute’s director is stepping down—and heading back to New York. The first so-called “checkpoint” inhibitor was approved for lung cancer. And one of the biggest biotech deals ever was made around a single cancer drug. … Continue reading “East Coast Biotech Roundup: Varmus, Bristol, Aerie, Aura & More”
AbbVie Snaps up Pharmacyclics, Pays Whopping $21B For Cancer Drug
Pop quiz: How much would a company whose best selling drug is about to lose patent protection pay for a portion of the rights to a successful blood cancer drug? The answer came late last night: $21 billion. That’s what AbbVie (NYSE: [[ticker:ABBV]]) has agreed to pay for the rights to Sunnyvale, CA-based Pharmacyclics (NASDAQ: … Continue reading “AbbVie Snaps up Pharmacyclics, Pays Whopping $21B For Cancer Drug”
Aura Bio Gets $21M, Pivots to Rare Eye Cancers With Virus Nanotech
Genzyme is best known for its rare disease work. So perhaps it’s no surprise that some of its former executives are helping to steer six-year-old Cambridge, MA-based startup Aura Biosciences in that direction as well. Aura today is announcing it’s raised a $21 million Series B round from a group of VC firms and former … Continue reading “Aura Bio Gets $21M, Pivots to Rare Eye Cancers With Virus Nanotech”
Antibiotics Startup Gets $22M From Roche, Others, For New “Macrolides”
It wasn’t long ago that the antibiotics landscape was barren of startups with fresh ideas. But government initiatives like the Generating Antibiotics Initiatives Now (GAIN) Act—and, of course, the increasing need to combat drug-resistant bugs—are slowly starting to change things. The latest example: Macrolide Pharmaceuticals, which was officially launched this morning with the backing of … Continue reading “Antibiotics Startup Gets $22M From Roche, Others, For New “Macrolides””
Ex-Alnylam Exec to Steer Warp Drive Bio; Verdine Shifts Roles
[Updated, 3/5/15, 3:56 pm ET] Gregory Verdine left a tenured position at Harvard University last year to lead a Cambridge, MA, startup trying to derive new drugs from the microbes in plants and dirt. Today Verdine is handing the reins of Warp Drive Bio over to Laurence Reid, the former chief business officer at nearby … Continue reading “Ex-Alnylam Exec to Steer Warp Drive Bio; Verdine Shifts Roles”
Just Eight Days Left—Get Your Seat for “New York’s Life Science Disruptors”
We’re just over a week away from bringing the Big Apple biotech community together for a taste of what it takes to make it here—and what big stories are changing the face of biomedical research in and around Manhattan. Tickets are going fast, but there are still seats available for our March 12 bash at … Continue reading “Just Eight Days Left—Get Your Seat for “New York’s Life Science Disruptors””
Blueprint Cuts $265M Alexion Deal With IPO in Sight
It’s been a year of transition for Blueprint Medicines. Since early 2014, the Cambridge, MA-based company moved on from its founding CEO, named two lead programs, added a whole bunch of new investors, and raised a total of $75 million. Now it’s getting its first stamp of approval from a large drugmaker—Alexion Pharmaceuticals. Blueprint and … Continue reading “Blueprint Cuts $265M Alexion Deal With IPO in Sight”
Focused on Glaucoma, Aerie Looks Toward Unblinding Critical Data
Glaucoma is a ripe opportunity for drug developers. Generics litter the field, yet it’s a roughly $5 billion market that will only grow with an aging population. What’s more, nothing out there cures the disease. Patients typically take eye drops, chronically, for the rest of their lives. In other words, there’s room for innovation. That’s … Continue reading “Focused on Glaucoma, Aerie Looks Toward Unblinding Critical Data”
With Celiac Deal, Celimmune Aims to Give New Life to Old Amgen Drug
Sometimes a drug gathering dust at a big company finds new life at a startup. And sometimes the two companies cut a deal, in case that startup is on to something. That’s exactly what biotech giant Amgen is doing with brand-new startup Celimmune, in a deal announced today. Celimmune, based in Lebanon, NJ, and Bethesda, … Continue reading “With Celiac Deal, Celimmune Aims to Give New Life to Old Amgen Drug”
See “New York’s Life Science Disruptors” on March 12: Here’s the Agenda
We’re coming down the home stretch towards our latest Big Apple biotech bash. In just a few weeks, on March 12, Xconomy will bring the local biotech community together for “New York’s Life Science Disruptors” at the Alexandria Center for Life Science at East River Science Park. It’s a candid event; you’ll hear the behind-the-scenes … Continue reading “See “New York’s Life Science Disruptors” on March 12: Here’s the Agenda”
Flexus Speeds From Inception to $1.25B Bristol Buyout In Less Than Two Years
In biotech, there are quick flips, and there is what Flexus Biosciences managed to accomplish today. Just over a year after emerging from stealth, the San Carlos, CA-based startup has been acquired by Bristol-Myers Squibb in a deal worth up to $1.25 billion. New York’s Bristol-Myers (NYSE: [[ticker:BMY]]) is paying $800 million up front to … Continue reading “Flexus Speeds From Inception to $1.25B Bristol Buyout In Less Than Two Years”
East Coast Biotech Roundup: Vertex, Syndax, Build-to-Buy Deals & More
We’ve got news all across the biotech spectrum this week. From startups raising funding, to up-and-comers pricing (or walking away from) IPOs, to more established companies agreeing to buy up fledglings. Your East Coast headlines below: —Vertex Pharmaceuticals (NASDAQ: [[ticker:VRTX]]) has undergone a transformation from a hepatitis C specialist to the dominant player in cystic … Continue reading “East Coast Biotech Roundup: Vertex, Syndax, Build-to-Buy Deals & More”
Vertex Buys Spine Drug on the QT As Part of Its Post-Hep C Makeover
Vertex Pharmaceuticals is a pillar of Boston biotech. A pioneer of treatments for hepatitis C and more recently, cystic fibrosis, the Boston-based company today is worth more than $27 billion. It’s also going through a transformation—one that may leave the company with a completely different identity a few years from now. Most attention on Vertex … Continue reading “Vertex Buys Spine Drug on the QT As Part of Its Post-Hep C Makeover”
Glaucoma Race Heats Up, But Inotek Cuts Back Its IPO to $40M
Inotek Pharmaceuticals is about to make its Nasdaq debut, but not at the price it was shooting for. The Lexington, MA-based company priced its IPO late Tuesday, selling 6.67 million shares at $6 apiece and raising about $40 million before discounts due to underwriters. The company had aimed to sell 4.6 million shares at $13 … Continue reading “Glaucoma Race Heats Up, But Inotek Cuts Back Its IPO to $40M”
Syndax CEO Says an Immuno-Oncology Thing Happened on the Way to IPO
A bull market doesn’t guarantee a successful IPO. Syndax Pharmaceuticals of Waltham, MA, for instance, began preparing for an IPO back nearly a year ago, but it never made its Nasdaq debut. Instead, after 10 months as an IPO candidate, it cut a $100 million licensing deal with the Japanese drug firm Kyowa Hakko Kirin … Continue reading “Syndax CEO Says an Immuno-Oncology Thing Happened on the Way to IPO”
East Coast Biotech Roundup: Genzyme, 21st Century Cures, Acorda, & More
After a January pilgrimage to sunny San Francisco, biotech execs stormed the Big Apple this week and got a dose of winter reality at the BIO CEO & Investor Conference in New York. Despite the gloomy weather, optimism still reigns in biotech: Market indices, for instance, rallied back during the confab from a rough week … Continue reading “East Coast Biotech Roundup: Genzyme, 21st Century Cures, Acorda, & More”
Genzyme Buys into Neuro Gene Therapies With $845M Voyager Pact
[Updated, 1:15 pm ET] Few companies have stuck around in gene therapy as long as Genzyme. Despite the ups and downs—and never winning approval of a product—the Sanofi unit, unlike so many of its peers, never abandoned the field. So perhaps it’s no surprise that with the field in a full-on renaissance, it’s Genzyme that … Continue reading “Genzyme Buys into Neuro Gene Therapies With $845M Voyager Pact”
Gilead Exec: More Value in Quick Hep C Cure than Cancer Treatments
Gilead Sciences (NASDAQ: [[ticker:GILD]]) is deep into a campaign to defend its hepatitis C drug franchise from price attacks, and its executives are fighting back with tough questions. Take this one, for example, that Gilead president and COO John Milligan asked today on stage at the BIO CEO & Investor Conference in New York: Is … Continue reading “Gilead Exec: More Value in Quick Hep C Cure than Cancer Treatments”
Vaxxas Gets $20M Injection to Test Needle-Free Vaccines in Humans
What’s the worst part of getting vaccinated? Most folks, outside of the anti-vaccination crowd, would probably say the needle prick. A startup named Vaxxas is one of a group of companies trying to get rid of the ouch factor, and today it just got a big round of cash to see if its approach works … Continue reading “Vaxxas Gets $20M Injection to Test Needle-Free Vaccines in Humans”
“21st Century Cures” By Year’s End? Its Backers Want More Ideas
If you have an idea to include in the bipartisan initiative known as 21st Century Cures, Fred Upton (R-MI) and Diana DeGette (D-CO) say they are all ears. But speak up quickly: They want to present a bill to the House of Representatives by Memorial Day. That was the message the two members of Congress … Continue reading ““21st Century Cures” By Year’s End? Its Backers Want More Ideas”
With Early Data, Alkermes Plots Quick Jump to Pivotal Study For MS Drug
Alkermes’ transformation from a drug-delivery specialist to a pharma company with its own pipeline has been well-documented. Shares are now worth more than triple what they were a few years ago as the Dublin, and Waltham, MA-based company has advanced in-house drugs for depression and schizophrenia. Now you can add a prospective multiple sclerosis treatment—one … Continue reading “With Early Data, Alkermes Plots Quick Jump to Pivotal Study For MS Drug”