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.

East Coast Biotech Roundup: LTI, SolveBio, Proteon, & More

Abstracts from this year’s annual meeting of the American Society of Clinical Oncology came out this week, which means it was another week when Big Pharma took center stage. Immuno-oncology drugs from Bristol-Myers Squibb (NYSE: [[ticker:BMY]]), Merck (NYSE: [[ticker:MRK]]), Roche/Genentech, and AstraZeneca (NYSE: [[ticker:AZN]]) (some of which, incidentally, were acquired from biotech in the first … Continue reading “East Coast Biotech Roundup: LTI, SolveBio, Proteon, & More”

With Novartis Deal Dead, Proteon Embarks on Plan B With $45M Round

Proteon Therapeutics almost became a piece of Novartis’ portfolio before an option-to-buy deal with the Swiss pharma giant fell apart last summer. Now it’s going down a different path altogether—one that looks like it might take the Waltham, MA-based company all the way to Wall Street. Proteon is announcing today that it’s raised a $45 … Continue reading “With Novartis Deal Dead, Proteon Embarks on Plan B With $45M Round”

Celldex, Bristol-Myers Cut Deal on Immuno-Oncology Combo Trial

[Updated, 10:15 am ET] Big pharmaceutical companies everywhere are playing the mix and match game to come up with the best possible combination of immunotherapy drugs to treat cancer. Hampton, NJ-based Celldex Therapeutics has become the latest beneficiary of that strategy through a deal today with Bristol-Myers Squibb. Celldex (NASDAQ: [[ticker:CLDX]]) and Bristol-Myers (NYSE: [[ticker:BMY]]) … Continue reading “Celldex, Bristol-Myers Cut Deal on Immuno-Oncology Combo Trial”

SolveBio Grabs $2M to Make Genomics Easier for Programmers

The explosion of quicker and cheaper DNA sequencing tools hasn’t just made it easier to map a person’s genome. It’s also created several potential niches for fledgling companies coming up with answers for what to do with all the data those tools generate. SolveBio, a new startup based out of New York, is the latest … Continue reading “SolveBio Grabs $2M to Make Genomics Easier for Programmers”

Tesaro Climbs on Phase 3 Data for Nausea Drug

Investors pummeled Tesaro in December when an anti-nausea drug it’s been developing for cancer patients missed some key secondary goals in the first two of three late-stage trials. But today the Waltham, MA-based company bounced back when it said a third trial came through unscathed. Tesaro (NASDAQ: [[ticker:TSRO]]) said today that rolapitant, a drug it’s … Continue reading “Tesaro Climbs on Phase 3 Data for Nausea Drug”

Radius Health Yanks IPO, Cites Market Conditions

For the second time in two years, Radius Health is taking itself out of the IPO queue. The Cambridge, MA-based company has postponed its IPO, citing “poor market conditions,” according to IPO research firm Renaissance Capital. Radius had been looking to raise about $75 million and list on the Nasdaq under the ticker symbol “RDUS.” … Continue reading “Radius Health Yanks IPO, Cites Market Conditions”

East Coast Biotech Roundup: Mergers, Rhythm, Regeneron, & More

Pharma megadeals once again took center stage this week as more giant divisions were flipped, and the tension around a potential 12-figure, international buyout affecting thousands of workers across the globe escalated even higher. Those stories, and—oh yeah, biotech news—below. —Nothing is more closely watched in the life sciences world right now than the ongoing … Continue reading “East Coast Biotech Roundup: Mergers, Rhythm, Regeneron, & More”

Biotech IPO Slump Deepens as Alder Prices Below Range

As Alder Biopharmaceuticals can attest to today, the biotech IPO train has hit the skids. The Bothell, WA-based company has priced its IPO at $10 per share, well below its projected $13 to $15 per share range, according to IPO research firm Renaissance Capital. Alder upsized its offering to 8 million shares from 7.2 million … Continue reading “Biotech IPO Slump Deepens as Alder Prices Below Range”

Hutch Starts Search for New Prez as Corey Steps Down

After several years under the stewardship of international HIV vaccine expert Larry Corey, the Fred Hutchinson Cancer Center in Seattle, one of the world’s leading biomedical research centers, is looking for a new leader. The “Hutch” announced today that Corey is stepping down after three and a half years on the job to “return to … Continue reading “Hutch Starts Search for New Prez as Corey Steps Down”

NPS Pharma’s Francois Nader on the Megadeal Fallout for Biotechs

Sometime soon, it’s entirely possible that Pfizer will buy AstraZeneca for a price that would exceed the gross national product of all but about 50 countries worldwide. Should that happen, a long, complicated process will unfold. Pfizer (NYSE: [[ticker:PFE]]) will talk about bringing together two titans with franchises in big fields like oncology, inflammation, and … Continue reading “NPS Pharma’s Francois Nader on the Megadeal Fallout for Biotechs”

Rhythm Eyes Pivotal Study as GI Drug for Diabetics Hits Phase 2 Mark

Along with all the well-known and frightening effects of diabetes, people with the disease also suffer debilitating gastrointenstinal problems that often send them to the emergency room. Rhythm Pharmaceuticals wants to replace a decades-old drug for diabetic gastroparesis with one of its own, and data released today bring the Boston-based biotech an important step closer. … Continue reading “Rhythm Eyes Pivotal Study as GI Drug for Diabetics Hits Phase 2 Mark”

East Coast Biotech Roundup: Concert, Merrimack, Vertex, & More

A near-death experience for an IPO, new life for a cancer drug company, and plenty of clinical trial results dot the roundup this week. Those stories and more below. —Lexington, MA-based Concert Pharmaceuticals (NASDAQ: [[ticker:CNCE]]) may have priced its IPO at the top of its range earlier this year, but not without a fair bit … Continue reading “East Coast Biotech Roundup: Concert, Merrimack, Vertex, & More”

Merrimack Heads to FDA as Pancreatic Cancer Drug Succeeds in Phase 3

[Updated, 8:10 am ET] Merrimack Pharmaceuticals has taken its share of punches from investors over the past year while trying to prove that its computer-aided drug discovery approach can lead to effective therapeutics. But the Cambridge, MA-based company can finally talk about some good clinical news today, because it might have a shot to break … Continue reading “Merrimack Heads to FDA as Pancreatic Cancer Drug Succeeds in Phase 3”

What’s Hot in Boston Biotech: The Photos

Biogen Idec’s executive vice president of Research & Development, Douglas Williams said it best: “What’s hot in biotech? I’d say damn near everything.” Williams, of course, was kicking off the festivities at Xconomy Boston’s latest life sciences event, “What’s Hot in Boston Biotech,” on April 16. Attendees then got a taste of the big ideas … Continue reading “What’s Hot in Boston Biotech: The Photos”

OncoGenex’s Long Wait For Cancer Drug Ends With a Phase 3 Stumble

OncoGenex has waited for years for the outcome of a Phase 3 trial that would tell it whether it had a real treatment for prostate cancer patients on its hands—all while watching increasingly effective drugs seep into the marketplace. The news finally came down today, and unfortunately for the Bothell, WA- and Vancouver, BC-based company, … Continue reading “OncoGenex’s Long Wait For Cancer Drug Ends With a Phase 3 Stumble”

How A Kidney Drug Almost Torpedoed Concert Pharma’s IPO

[Updated, 4/27/14, 10:49 am ET] Drug development is a humbling thing. Hard as you might try, the numbers show that 90 percent of the time, you’ll fail. What if the signs of such a failure were to emerge, of all times, when you’re pitching an IPO? That’s just the situation that Concert Pharmaceuticals confronted last … Continue reading “How A Kidney Drug Almost Torpedoed Concert Pharma’s IPO”

East Coast Biotech Roundup: Sarepta, Alkermes, Boston Biotech, & More

It was megamerger week in the pharma world. Novartis, GlaxoSmithKline, and Eli Lilly executed the drugmaking equivalent to the most complex three-way fantasy football trade of all time. Pfizer was rumored to make a kajillion dollar bid for AstraZeneca. Allergan has become the ever-acquisitive Valeant Pharmaceuticals’ latest target. Even a $13 billion med tech buyout … Continue reading “East Coast Biotech Roundup: Sarepta, Alkermes, Boston Biotech, & More”

7 Takeaways From “What’s Hot in Boston Biotech”

Sometimes it takes a contrarian viewpoint, and a little guts, to get a scientific idea off the ground. Other times an idea can be so enthralling that venture firms will fight one another—or join forces— just to get a piece of it. Little surprise that these things describe some of the upstarts coming out of … Continue reading “7 Takeaways From “What’s Hot in Boston Biotech””

Sarepta to Submit Application for Duchenne Drug, Shares Boom

[Updated, 12:47 pm ET] The Sarepta Therapeutics rollercoaster ride is back on the upswing. Today, the Cambridge, MA-based company revealed that it’s reached an agreement with the FDA on a clinical plan that will give it a shot to win early approval for its Duchenne Muscular Dystrophy drug, eteplirsen, before it completes a larger, Phase … Continue reading “Sarepta to Submit Application for Duchenne Drug, Shares Boom”

Zafgen Lines Up $86M IPO to Bankroll Obesity Drug Push

Zafgen signaled an IPO was likely on the way last year when it added firms like RA Capital, which typically back public companies, to its pool of investors. So perhaps it’s no surprise that the Cambridge, MA-based company has become the latest biotech to join the crowded IPO queue. Zafgen is planning to raise up … Continue reading “Zafgen Lines Up $86M IPO to Bankroll Obesity Drug Push”

Alkermes CEO Richard Pops on Building Big, Playing Well with Pharma

How do you build a biotech? Ask ten CEOs and you’ll likely get a hundred answers, but for Richard Pops, CEO of Waltham, MA- and Dublin, Ireland-based Alkermes, it arguably boils down to this: deliberately. Pops took over Alkermes (NASDAQ: [[ticker:ALKS]]) in 1991 when he was just 28. At the time, the company had been … Continue reading “Alkermes CEO Richard Pops on Building Big, Playing Well with Pharma”

AAVLife Gets $12M to Bring Gene Therapy to Rare Ataxia

Bluebird Bio is a symbol, in a way, of the renaissance of gene therapy. The Cambridge, MA-based company raised $116 million in an IPO last year, and a number of startups pursuing gene therapy have cropped up since. So perhaps its no surprise that the field’s new entrant, AAVLife, comes from some of the same … Continue reading “AAVLife Gets $12M to Bring Gene Therapy to Rare Ataxia”

East Coast Biotech Roundup: Agios, Spero, Cerulean, & More

More handwringing from investors this week as the Nasdaq Biotechnology Index (NASDAQ: [[ticker:IBB]]) continued falling, and new entrants to the market had to lower their expectations to make a debut. It wasn’t all bad in biotech, however. This week’s roundup below. —Amid a dismal week for biotech stocks, Cambridge, MA-based Agios Pharmaceuticals (NASDAQ: [[ticker:AGIO]]) was … Continue reading “East Coast Biotech Roundup: Agios, Spero, Cerulean, & More”

Cerulean Limps into Nasdaq Debut With $7 Per Share IPO

[Updated 4/10/14, 11:22 am] Apparently Wall Street wasn’t too keen on helping Cerulean Pharma get a second shot at proving its drug delivery technology. According to IPO research firm Renaissance Capital, the Cambridge, MA-based company priced its IPO at $7 per share, far below the $11 to $13 per share range it had been hoping … Continue reading “Cerulean Limps into Nasdaq Debut With $7 Per Share IPO”

Agios Taps Wall Street Off Early Data, Aims For $75M

Agios Pharmaceuticals gave investors its first glimpse of encouraging, but early human clinical data a few days ago, and saw its shares soar as a result. Now, it’s looking to cash in. Cambridge, MA-based Agios (NASDAQ: [[ticker:AGIO]]) wants to raise up to $75 million through a public stock offering, according to a regulatory filing. Agios … Continue reading “Agios Taps Wall Street Off Early Data, Aims For $75M”

Spero Emerges With $3M, Backing From Roche, & Plans to Disarm Bugs

There seems to be a new scare every week in the world of antibiotics, because bacteria have the frustrating habit of evolving and becoming immune to current treatments. Atlas Venture’s latest seedling startup, Spero Therapeutics, believes it has a new type of answer for those tough-to-kill bugs—one that’s caught the attention, and potential dollars, of … Continue reading “Spero Emerges With $3M, Backing From Roche, & Plans to Disarm Bugs”

Alkermes Scores Phase 3 Win for Long-Lasting Schizophrenia Drug

Alkermes has earned a living making drugs created by other companies stay stable in the bloodstream longer and then splitting the financial rewards with those companies. For the first time, however, the Dublin and Waltham, MA-based company looks like it’ll soon have a marketed drug it won’t have to share with anyone. Alkermes (NASDAQ: [[ticker:ALKS]]) … Continue reading “Alkermes Scores Phase 3 Win for Long-Lasting Schizophrenia Drug”

Adaptive Corrals $105M to Ramp up Immune System Diagnostics

Adaptive Biotechnologies was spun out of the Fred Hutchinson Cancer Center six years ago to capitalize on a platform that could give researchers a detailed look at a patient’s immune response. Today, the Seattle-based company just got a big vote of confidence from Viking Global Investors that it can turn that work into a successful … Continue reading “Adaptive Corrals $105M to Ramp up Immune System Diagnostics”

Agios’s Blood Cancer Drug Shines in First Clinical Test

When David Schenkein left Genentech to lead Agios Pharmaceuticals in 2009, part of the draw was the fact that the Cambridge, MA-based startup was positioning itself as a trailblazer in a raw field of oncology—cancer metabolism. The idea, essentially, was to starve tumors by blocking the enzymes that help them gobble up nutrients. Five years … Continue reading “Agios’s Blood Cancer Drug Shines in First Clinical Test”

East Coast Biotech Roundup: Berg, Forma/Celgene, Intarcia, & More

Big ambitions, and creative, risk-sharing deals—two concepts that often go hand in hand with biotech. They’re also the themes of two of the big stories on the East Coast this week. Those and plenty more below. —Drug discovery is expensive, time-consuming business. Framingham, MA-based Berg Pharma thinks it’s found a way to make it quicker … Continue reading “East Coast Biotech Roundup: Berg, Forma/Celgene, Intarcia, & More”

Blueprint’s Newest Grads Take Healthtech to Hospitals, ERs

Last month, a startup called WellTrackOne—one of the most recent grads to come out of Blueprint Health, the New York healthtech accelerator—bagged a $1.5 million Series A round led by Easton Capital. That nascent company is now on track to generate about $2.5 million in revenue this year. No surprise, then, that its CEO, Peter … Continue reading “Blueprint’s Newest Grads Take Healthtech to Hospitals, ERs”

Backed By a Billionaire, Berg Pharma Aims to Speed Drugmaking

Even in the brazen world of biotech, Berg Pharma stands out for its grand ambitions. Co-founder Carl Berg, the Silicon Valley real estate billionaire, says his namesake Framingham, MA-based startup is capable of “revolutionizing” healthcare. President and chief technology officer Niven Narain says that Berg can cut the time, and expense, of drug development “in … Continue reading “Backed By a Billionaire, Berg Pharma Aims to Speed Drugmaking”

NY Genomics, Health Tech, Get $160M in State Support

Who said there’s no cash lying around for New York biotech? Over the past few days, the New York Legislature has thrown $160 million in support behind life sciences growth in the Big Apple with two budget measures that’ll help advance genomic medicine and the establishment of the nation’s first statewide, centralized system of electronic … Continue reading “NY Genomics, Health Tech, Get $160M in State Support”

Foresite Capital Reloads With New $300M Late-Stage Biotech Fund

Just a year after plunging $100 million into a plan to back established biotechs and other healthcare companies, rather than bet on risker, nascent ones, Foresite Capital Management is back for seconds, announcing today that it’s closed a new $300 million fund to continue the same investment plan. The San Francisco, CA and New York-based … Continue reading “Foresite Capital Reloads With New $300M Late-Stage Biotech Fund”

Forma Gets $225M More, And a Potential Buyout, From Celgene

When Forma Therapeutics cozied up to Celgene last year, it looked like the Watertown, MA-based company had added another name to its list of partners and set itself up to potentially sell its own drugs someday, rather than just discover them for others. As it turns out, though, Forma got one more thing out of … Continue reading “Forma Gets $225M More, And a Potential Buyout, From Celgene”

FDA Lifts Clinical Hold on Curis Cancer Drug, Shares Surge

Curis’ cancer drug just got a second lease on life. Now the Lexington, MA-based company will have to make something of it. Curis (NASDAQ: [[ticker:CRIS]]) said today that the FDA has lifted the partial clinical hold on CUDC-427, the experimental cancer drug it licensed from Genentech a few years ago. The FDA’s decision takes CUDC-427 … Continue reading “FDA Lifts Clinical Hold on Curis Cancer Drug, Shares Surge”

East Coast Biotech Roundup: Neurophage, Boston Biotech, Insmed, & More

After two years of good vibes, rising valuations, and booming IPOs, biotech stocks finally began feeling the heat this week. Since last Friday, when politicians hammered Gilead Sciences (NASDAQ: [[ticker:GILD]]) for the price of its new hepatitis C drug, sofosbuvir, the Nasdaq Biotechnology Index has plummeted 10 percent. Is the worst over, or is a … Continue reading “East Coast Biotech Roundup: Neurophage, Boston Biotech, Insmed, & More”

Syndax Plots $69M IPO For Cancer Drug’s Stretch Run

Syndax Pharmaceuticals raised about $27 million in private financing last year to gear up for a late-stage clinical trial. Now, on the doorstep of that lengthy, 600-patient study, the Waltham, MA-based company is looking to Wall Street to get it to the finish line. Syndax late Thursday revealed plans to raise up to $69 million … Continue reading “Syndax Plots $69M IPO For Cancer Drug’s Stretch Run”

What’s Hot in Boston Biotech: Here’s the Agenda for April 16

There are plenty of reasons Wall Street is jittery that a biotech bubble is about to pop. But this bull market formed for a reason: innovative new science is sprouting up all over the biotech world, and some of it is on the verge of potentially delivering some real new treatment options for patients. With … Continue reading “What’s Hot in Boston Biotech: Here’s the Agenda for April 16”

Ariosa Takes Pre-Natal Genetic Test to Wall Street, Eyes $69M IPO

San Jose, CA-based startup Ariosa Diagnostics has grown to become one of the key players in an emerging industry battle to market pre-natal genetic tests, where parents can figure out whether the child they’re about to have is likely to have a chromosomal abnormality such as Down Syndrome. Now, however, it’s about to seek Wall … Continue reading “Ariosa Takes Pre-Natal Genetic Test to Wall Street, Eyes $69M IPO”

Neurophage Nabs $17M More to Hunt Down Brain Plaques

Neurophage has spent years developing a way to break up disease-causing plaques in the brain, based on lessons it learned from a virus that infects bacteria. Today, it raised enough cash to begin testing that method out in its first clinical trial. Cambridge, MA-based Neurophage closed out a $17 million Series D round from both … Continue reading “Neurophage Nabs $17M More to Hunt Down Brain Plaques”

Seattle’s KinDex Gets $5M to Fight Diabetes, Burn Fat With Hops

Hops give a distinctive bitter taste to beer, which has been known to cause many a drinker to pack on an extra pound or two. But a Seattle-based startup called KinDex Pharmaceuticals thinks a chemical in these plants might just help people shed weight–and even control their diabetes. KinDex is announcing today that it’s raised … Continue reading “Seattle’s KinDex Gets $5M to Fight Diabetes, Burn Fat With Hops”

East Coast Biotech Roundup: Proteon, Ataxion, NY Genome/Watson, & More

Deals, deals, and more deals on the East Coast this week. Some came together, some fell apart. Some might help change the face of cancer treatment—or they could fall flat. That’s the nature of dealmaking. Those stories and more below. —Sometimes an option-to-buy deal never leads to a buyout: see Cambridge, MA-based Proteon Therapeutics. A … Continue reading “East Coast Biotech Roundup: Proteon, Ataxion, NY Genome/Watson, & More”

NinePoint Gets $34M From Corning, Others, For Medical Imaging Tech

NinePoint Medical made it from seedling to commercial-stage company on the strength of a $33 million round. Now, with its optical imaging device starting to trickle into hospitals across the country, the Cambridge, MA-based company has reloaded with a fresh batch of cash. NinePoint is announcing today that it’s raised a $34.5 million Series B … Continue reading “NinePoint Gets $34M From Corning, Others, For Medical Imaging Tech”

Alder BioPharmaceuticals Hits IPO Trail Looking for $115M

Alder BioPharmaceuticals grabbed some headlines late last year when a rheumatoid arthritis drug it’s been developing with Bristol-Myers Squibb showed some early signs that it might have a chance to challenge established treatments for the ailment. Now the Bothell, WA-based company is trying to ride that momentum into the public markets. Alder intends to raise … Continue reading “Alder BioPharmaceuticals Hits IPO Trail Looking for $115M”

Proteon, Looking Past Ill-Fated Novartis Deal, Goes it Alone

You often hear about option-to-buy deals in biotech, where a big firm will pay a fee for the right to acquire a smaller company later on. But as the phrase suggests, it’s no guarantee that a buyout will take place. Sometimes, for one reason or another, talks break down, and the little guy has to … Continue reading “Proteon, Looking Past Ill-Fated Novartis Deal, Goes it Alone”