Hello Health, which has an unusual model for offering electronic health records systems to doctors, said today that it raised $11.5 million in additional financing, with First Generation Capital as its lead investor. That brings the total amount raised by the New York-based subsidiary of Montreal’s Myca Health to $21.5 million in the past two years. … Continue reading “Hello Health Raises $11.5 Million to Expand Electronic Health Records”
Author: Catherine Arnst
Catherine Arnst is an award- winning writer and editor specializing in science and medicine. Catherine was Senior Writer for medicine at BusinessWeek for 13 years, where she wrote numerous cover stories and wrote extensively for the magazine’s website, including contributing to two blogs. She followed a broad range of issues affecting medicine and health and held primary responsibility for covering the battle in Washington over health care reform. Catherine has also written for the Boston Globe, U.S. News & World Report and The Daily Beast, and was Director of Content Development for the health practice at Edelman Public Relations for two years. Prior to joining BusinessWeek she was the London-based European Science Correspondent for Reuters News Service. She won the 2004 Business Journalist of the Year award from London’s World Leadership Forum, and in 2003 was the first recipient of the ACE Reporter Award from the European School of Oncology for her five-year body of work on cancer. She holds a bachelor’s degree in journalism from Boston University.
East Coast Life Sciences Roundup: Insider Trading, Shire, Pfizer
Alleged skullduggery by some New Jersey pharma execs, drug development pacts, and a European drug approval marked this holiday week on the East Coast. —The holiday-shortened week started out with an apparent crime caper right out of Law and Order. Three New Jersey-based pharma execs from Celgene (NASDAQ: [[ticker:CELG]]), Sanofi (NYSE: [[ticker:SNY]])and Stryker (NYSE: [[ticker:SYK]]) … Continue reading “East Coast Life Sciences Roundup: Insider Trading, Shire, Pfizer”
Investors Interested in Health IT—With Caveats
Established companies such as Dell Computer (NASDAQ: [[ticker:DELL]]) and Becton Dickinson (NYSE: [[ticker:BDX]]) say they are eager to invest in health IT startups—they just need to figure out how the U.S. healthcare system is going to evolve over the next five years; what applications are most likely to get reimbursed; what technologies make the most sense … Continue reading “Investors Interested in Health IT—With Caveats”
Celgene, Sanofi, Stryker Execs Charged With Insider Trading
Three high-powered New Jersey pharmaceutical executives from Celgene (NASDAQ: [[ticker:CELG]]), Sanofi (NYSE: [[ticker:SNY]]), and Stryker (NYSE: [[ticker:SYK]]) were charged today with insider trading by the U.S. Securities and Exchange Commission and the U.S. Attorney’s Office. The SEC said in a statement that the three were part of a ring of former high school buddies and wine … Continue reading “Celgene, Sanofi, Stryker Execs Charged With Insider Trading”
Pfizer, Cystic Fibrosis Foundation in $58 Million Pact
The Cystic Fibrosis Foundation says it has agreed to invest up to $58 million over six years to expand its drug development partnership with New York-based Pfizer (NYSE: [[ticker:PFE]]), in an attempt to speed up the development of drugs that will treat people with the most common mutation associated with the deadly lung disease. Pfizer … Continue reading “Pfizer, Cystic Fibrosis Foundation in $58 Million Pact”
MoMelan Technologies Stealthily Acquired by Kinetic Concepts
MoMelan Technologies, a three-year-old Cambridge, MA, startup with an unusual skin graft technology invented by laser hair removal pioneer R. Rox Anderson, was secretly acquired by San Antonio, TX-based Kinetic Concepts recently, Xconomy has learned. A MoMelan investor who asked not to be named told Xconomy that he had received an e-mail from MoMelan co-founder and president … Continue reading “MoMelan Technologies Stealthily Acquired by Kinetic Concepts”
East Coast Life Sciences Roundup: Bristol-Myers, Alnylam, Merck, & More
The East Coast produced some good news this week about treatments for hepatitis C, some big deals, and at long last, hope for victims of bedbugs. —Advances against deadly hepatitis C dominated biotech news at the beginning of the week as several very positive clinical trial results were reported for oral treatments at the annual … Continue reading “East Coast Life Sciences Roundup: Bristol-Myers, Alnylam, Merck, & More”
Worldwide Investor Network Pairs Foreign Startups, NY Money
There are some 300 incubators outside the U.S. nurturing hundreds of innovative startup companies, according to Eyal Bino, founder of Worldwide Investor Network. But few of these enterprises attract the interest of U.S. investors, particularly in New York, where the money is. That’s where Bino comes in. “I want to turn New York into the … Continue reading “Worldwide Investor Network Pairs Foreign Startups, NY Money”
Forest Labs, Adamas in Pact to Develop Alzheimer’s Drug Combo
In a play to extend the life of its top-selling Alzheimer’s drug memantine (Namenda XR) beyond its patent expiration, New York-based Forest Laboratories (NYSE: [[ticker:FRX]]) agreed to pay Adamas Pharmaceuticals up to $160 million to help develop a single pill combining the drug with a generic Alzheimer’s treatment. Under the agreement, Forest will pay Adamas, based in Emeryville, CA, … Continue reading “Forest Labs, Adamas in Pact to Develop Alzheimer’s Drug Combo”
Hepatitis C Treatments from Gilead, Abbott Wow Liver Meeting
This weekend demonstrated what a difference a year makes for Cambridge, MA-based Vertex (NASDAQ: [[ticker:VRTX]]). At the annual meeting of the American Associaton for the Study of Liver Diseases in Boston Nov 9-13, Abbott Laboratories (NYSE:[[ticker:ABT]]) and Gilead Sciences (NASDAQ: [[ticker:GILD]]), along with a few other companies, presented promising data on new paradigms for the treatment … Continue reading “Hepatitis C Treatments from Gilead, Abbott Wow Liver Meeting”
Healthcare Information Technology: Change, Outlook and Opportunity
The Life Sciences Angel Network presents this conference highlighting topics critical to building a successful company in healthcare information technology, including the healthcare system’s complexity from the point of view of hospital executives and FDA regulators. Panelists, including noted tech guru and angel investor Esther Dyson, will discuss the real-world successes and failures of experienced … Continue reading “Healthcare Information Technology: Change, Outlook and Opportunity”
New York Pharma Forum 2012 General Assembly
The New York Pharma Forum’s general assembly will feature a high-powered panel discussing “Creative Investments and Partnerships to Stimulate Innovation,” exploring how innovation can be fostered through creative investments and partnerships involving industry, academia and government. The program will feature a case study of New York City’s biotech initiative with Cornell University and will showcase … Continue reading “New York Pharma Forum 2012 General Assembly”
Gates Foundation Invests in Flu Drug Developer Visterra
The Bill and Melinda Gates Foundation continues its strategy of financial support for biotech startups with an investment in Visterra, a four-year-old Cambridge, MA, company developing an antidote to pandemic flu. Visterra says today that the Gates Foundation is one of the investors in an additional $13 million raised to complete a $26 million Series A … Continue reading “Gates Foundation Invests in Flu Drug Developer Visterra”
East Coast Life Sciences Roundup: EpiCept, Boston Scientific, & More
It was a big week for mergers and clinical trial advances for life sciences companies on the East Coast, with one company buying, another merging into an Israeli firm, and two others advancing against cardiovascular disease and obesity. —On Thursday EpiCept (NASDAQ: [[ticker:EPCT]]), based in Tarrytown, NY, announced that it will merge with Immune Pharmaceuticals, a … Continue reading “East Coast Life Sciences Roundup: EpiCept, Boston Scientific, & More”
Boston Scientific to Buy Vessix for Hypertension Technology
Boston Scientific (NYSE: [[ticker:BSX]]) is continuing its acquisition binge with the announcement this morning that it has agreed to buy Vessix Vascular, a privately held company in Laguna Hills, CA, for as much as $425 million. Vessix makes a device that uses radio frequencies to treat drug-resistant hypertension, a method called renal denervation. The agreement … Continue reading “Boston Scientific to Buy Vessix for Hypertension Technology”
GNS to Use Big Data to Fight Multiple Myeloma
Big data is transforming all kinds of endeavors, as technology leaders highlighted at Xconomy’s packed event in Boston last month, “The Future of Big Data.” Now, thanks to advances in deciphering genomics, big data is also being enlisted in the war on cancer. Today, GNS Healthcare of Cambridge, MA, announced that it is collaborating with Dana-Farber … Continue reading “GNS to Use Big Data to Fight Multiple Myeloma”
Mobile Commons Helps NY, NJ Voters Get to Polls
As if New York and New Jersey residents didn’t have enough logistical nightmares to deal with in the aftermath of Hurricane Sandy, they also have to figure out where they can vote. New York Mayor Michael Bloomberg announced on Sunday that at least 59 polling places throughout the city cannot open because of storm damage … Continue reading “Mobile Commons Helps NY, NJ Voters Get to Polls”
NYC Techies Volunteer to Get Businesses Back Up Post-Sandy
Thousands of New York City residents are volunteering to help the victims of last week’s Hurricane Sandy by digging out debris from flooded homes, providing hot meals, and donating supplies. But there is also a very specialized volunteer effort, engineered by the city’s huge tech community—they are volunteering their skills to help small businesses, non-profits, … Continue reading “NYC Techies Volunteer to Get Businesses Back Up Post-Sandy”
RRE Ventures Closes $230 million Fund
RRE Ventures, one of New York’s most prominent venture firms, reported on Thursday that it closed on its fifth round of funding with capital commitments of $230 million, just shy of the $250 million it was seeking. RRE has raised more than $1 billion in commitments since it was started in 1994 by co-managing partners James … Continue reading “RRE Ventures Closes $230 million Fund”
East Coast Life Sciences Roundup: Vertex, Thermedical, More
There were signs of progress this week for a few East Coast life sciences company as they strived to develop new drugs and devices, except for Aveo, which is pulling back on R&D to throw most of its resources behind its lead product. —Vertex Pharmaceuticals (NASDAQ: [[ticker:VRTX]]) scored some big-name development partners this week for its … Continue reading “East Coast Life Sciences Roundup: Vertex, Thermedical, More”
Ensemble Signs Pact with Boehringer Worth up to $186 million
Ensemble Therapeutics of Cambridge, MA, said today that it may receive up to $186 million from a new collaboration with Germany-based Boehringer Ingelheim to develop drugs against a range of unnamed disease targets. Ensemble said it will receive an up-front payment and more money for research as it reaches successive milestones leading up to commercial success, … Continue reading “Ensemble Signs Pact with Boehringer Worth up to $186 million”
Aveo Cuts Staff, Announces 3rd Quarter Loss
AVEO Oncology (NASDAQ: [[ticker:AVEO]]), based in Cambridge, MA, said it is cutting 45 jobs—17 percent of its workforce—and eliminating another 30 open positions in an effort to save money while it waits for FDA approval of its tivozanib, its experimental treatment for kidney cancer submitted for approval in September. The company announced the staff reductions … Continue reading “Aveo Cuts Staff, Announces 3rd Quarter Loss”
Stanford Bests Harvard, MIT on Entrepreneurs, Report Finds
Harvard may be the No. 1 dream school for every over-achieving tiger parent, but if they want their babies to grow up to be wildly successful entrepreneurs, they might want to shift their focus west. A new study by New York-based research firm CB Insights tracked the money raised and deals closed by the entrepreneurial … Continue reading “Stanford Bests Harvard, MIT on Entrepreneurs, Report Finds”
Tris Pharma Benefits from Pfizer/NextWave Deal
Who’d have thought a 60 year old off-patent drug for attention deficit hyperactivity disorder would lead to a $700 million payday? That’s how much New York-based Pfizer (NYSE: [[ticker:PFE]]) agreed to pay for NextWave Pharmaceuticals of Cupertino, CA, last week. NextWave can credit at least part of that windfall to its development and manufacturing partner, Tris Pharma, … Continue reading “Tris Pharma Benefits from Pfizer/NextWave Deal”
Startups Progress with Novel Drugs for Parkinson’s Disease
In the world of Parkinson’s disease drug development, one promising candidate after another has succumbed to what scientists like to call the “Valley of Death”—the period between the discovery of a promising compound and success in human trials. Nevertheless, more than 30 drugs for the disease are in development and a number of startups are beginning … Continue reading “Startups Progress with Novel Drugs for Parkinson’s Disease”
East Coast Life Sciences Roundup: Pfizer, Rhythm, NPS, More
It was a busy week for East Coast life sciences companies, with acquisitions, IPOs, and regulatory news topping the headlines. —It was a big payday on Monday for NextWave Pharmaceuticals of Cupertino, CA, when New York-based Pfizer (NYSE: [[ticker:PFE]]) agreed to shell out up to $700 million for the company, all so it could get the rights … Continue reading “East Coast Life Sciences Roundup: Pfizer, Rhythm, NPS, More”
Xconomist of the Week: NPS’s Francois Nader Shares Lessons Learned
NPS Pharmaceuticals (NASDAQ: [[ticker:NPSP]]) is gearing up for its first FDA approval, a mere 26 years after the company was founded. It is also six years since CEO Francois Nader joined the Bedminster, NJ, firm to engineer a dramatic structural overhaul, turning a fully integrated pharmaceutical company, which had spent decades developing drugs for osteoporosis, … Continue reading “Xconomist of the Week: NPS’s Francois Nader Shares Lessons Learned”
Radius Fourth Boston-area Biotech This Year Going for IPO
[Corrected 10/24, 9:00 am. See below.] Radius Health, which raised a stunning $91 million in venture funding last December, has set the price range for its planned IPO, aiming to cash in on both the strong IPO market for Boston-area biotechs and the world’s aging population. The Cambridge, MA-based company , in the midst of a … Continue reading “Radius Fourth Boston-area Biotech This Year Going for IPO”
Pfizer to Acquire NextWave for $700 Million
New York-based Pfizer (NYSE:[[ticker:PFE]]) today announced that it will acquire NextWave Pharmaceuticals, a privately held specialty pharma company based in Cupertino, CA, that makes a liquid drug for attention deficit hyperactivity disorder (ADHD), in a transaction worth up to $700 million. NextWave’s drug methylphenidate hydrochloride (Quillivant XR) is a liquid form of the off-patent drug Ritalin, … Continue reading “Pfizer to Acquire NextWave for $700 Million”
Neurovance Raises $7 Million for ADHD Drug Development
Neurovance, a spin-out of Euthymics Bioscience, both based in Cambridge, MA, closed a $7 million series A1 funding round on Thursday to advance development of its EB-1020 drug for adult attention deficit hyperactivity disorder, which it says will be less addictive than other treatments on the market. The funding round was led by existing investor … Continue reading “Neurovance Raises $7 Million for ADHD Drug Development”
East Coast Life Sciences Roundup: Orphan Drugs, Financings, More
Here’s our roundup of this week’s news from the Boston and New York life sciences communities. — It was a big week for biotech companies focused on developing treatments for very rare diseases, sometimes called “ultra-orphan” diseases. Two Food & Drug Administration advisory panels of outside experts met this week to consider two such ultra-orphan … Continue reading “East Coast Life Sciences Roundup: Orphan Drugs, Financings, More”
Medical Device Company Cibiem Launches with $10 Million Series A
Cibiem said today that it has raised $10 million in a Series A round of financing led by life sciences venture investors SV Life Sciences and Third Rock Ventures. The New York company is developing minimally invasive medical devices for the treatment of conditions like hypertension, heart failure, diabetes, and renal failure. The firm launched out of … Continue reading “Medical Device Company Cibiem Launches with $10 Million Series A”
Chronic Disease Focus Helps Healthrageous Raise $15 Million
Healthrageous, a Boston-based startup that provides people suffering from chronic illnesses with tools to manage their health, said today that it raised $6.5 million in series B financing from North Bridge Venture Partners, Long River Ventures, Egan-Managed Capital and an unnamed investor. The two-year-old firm’s second round brings total investments to more than $15 million, and … Continue reading “Chronic Disease Focus Helps Healthrageous Raise $15 Million”
FDA Staff Issues Positive Report for Aegerion’s Lomatapide
FDA staff members issued a report today that brings the experimental drug lomitapide from Aegerion Pharmaceuticals (NASDAQ: [[ticker:AEGR]]) one step closer to a likely approval by year end. The report concluded that lomitapide is an appropriate and effective treatment for people with a rare genetic condition that causes their cholesterol levels to soar, with the caveat … Continue reading “FDA Staff Issues Positive Report for Aegerion’s Lomatapide”
Biotech Racking Up Successes Against Ultra-Orphan Diseases
There are two U.S. Food & Drug Administration hearings coming up this week that highlight the reasons why the biotech industry is increasingly focused on developing drugs for very rare diseases. Tomorrow, an advisory committee of independent experts will hear evidence about NPS Pharmaceutical’s (NASDAQ: [[ticker:NPSP]]) experimental drug for short bowel syndrome, a debilitating condition that … Continue reading “Biotech Racking Up Successes Against Ultra-Orphan Diseases”
East Coast Life Sciences Roundup: Biotech Hubs, Vertex, More
Here’s our latest roundup of news from Boston and New York’s life sciences communities. —Move over, San Francisco. Boston may be ready to take your place as the leading hub for biotech. In his Biobeat column , Xconomy’s Luke Timmerman, who has been covering biotech for 11 years, says that even though San Francisco has … Continue reading “East Coast Life Sciences Roundup: Biotech Hubs, Vertex, More”
Can New York Take on Boston, California as a Biotech Hub?
When you think of biotech hubs in the U.S. you think of South San Francisco, Boston, San Diego and…Brooklyn? Well, maybe not yet for Brooklyn, but a core group of investors, entrepreneurs, and scientists, with the support of Mayor Michael Bloomberg, are working to turn the Borough of Kings, along with two sites in Manhattan, … Continue reading “Can New York Take on Boston, California as a Biotech Hub?”
Boston Scientific Buys Rhythmia, Expands Cardiac Footprint
Boston Scientific (NYSE: [[ticker:BSX]]) is expanding its presence in the fast-growing market for electrophysiology treatments for irregular heartbeats with its acquisition, announced Oct. 8, of privately held Rhythmia Medical. The Natick, MA-based medical device giant will make an initial payment of $90 million for the Burlington, MA-based startup, plus another $175 million through 2017 if … Continue reading “Boston Scientific Buys Rhythmia, Expands Cardiac Footprint”