South San Francisco, CA-based drug developer Cytokinetics stumbled two years ago, but a deal with Astellas Pharma could be a big step toward recovery. Astellas, of Tokyo, is paying Cytokinetics (NASDAQ: [[ticker:CYTK]]) $65 million for an option to the rights to its drug tirasemtiv in Japan, other Asian countries, the Middle East and Africa, and … Continue reading “Cytokinetics Gets $95M in First ALS Deal, Needs Results For More”
Author: David Holley
David is the national correspondent at Xconomy. He has spent most of his career covering business of every kind, from breweries in Oregon to investment banks in New York. A native of the Pacific Northwest, David started his career reporting at weekly and daily newspapers, covering murder trials, city council meetings, the expanding startup tech industry in the region, and everything between. He left the West Coast to pursue business journalism in New York, first writing about biotech and then private equity at The Deal. After a stint at Bloomberg News writing about high-yield bonds and leveraged loans, David relocated from New York to Austin, TX.
He graduated from Portland State University.
Bioz, Using Machine Learning to Optimize Biology, Launches With $3M
The evolution of technology, from natural language processing to machine learning, is now helping the software world find more places to interact with biology. A company launched today in Palo Alto, CA, that has plans to build a “life science search engine” that may be able to speed up the process of drug discovery and … Continue reading “Bioz, Using Machine Learning to Optimize Biology, Launches With $3M”
Invictus Medical, Under Temporary CEO, Pushes Sales and New Products
San Antonio — Effectively pulling off a change in management is no small feat. For Invictus Medical, it may be even more difficult because the departure of its long-time CEO, Tom Roberts, occurred at the same time the company is working to introduce a couple new products and clinch the first sales of its lead … Continue reading “Invictus Medical, Under Temporary CEO, Pushes Sales and New Products”
With Celgene Deal, Jounce Lands $261M And a “Trusting Partner”
It’s getting harder and harder to stand out in the increasingly crowded cancer immunotherapy field. But with a wide-ranging alliance being announced this morning, three-year-old Jounce Therapeutics has been able to make its mark. The Cambridge, MA-based company has inked a deal to work with Summit, NJ-based Celgene (NASDAQ: [[ticker:CELG]]) on a group of experimental … Continue reading “With Celgene Deal, Jounce Lands $261M And a “Trusting Partner””
Evoke Pharma’s Stock Sinks on Stomach Drug’s Phase 3 Failure
Evoke Pharma is taking a hit in the markets after announcing a Phase 3 trial on a gastrointestinal drug for diabetes patients failed to meet its goals. In early trading Monday, Evoke’s (NASDAQ: [[ticker:EVOK]]) stock price was down 72 percent to $3.02 per share as of 11:30 a.m. in New York. The company is developing a … Continue reading “Evoke Pharma’s Stock Sinks on Stomach Drug’s Phase 3 Failure”
Xbiotech Responds to ESMO, Other Critics of Phase 3 Cancer Data
Austin—It’s been a wild couple of weeks for Austin, TX, drug developer Xbiotech. On July 2, the maker of a monoclonal antibody that aims to treat colorectal cancer released additional details from a Phase 3 study. Its CEO calls the results beyond doubt “a breakthrough.” But investors, peers, and the medical society whose conference was … Continue reading “Xbiotech Responds to ESMO, Other Critics of Phase 3 Cancer Data”
Second Genome Replaces DiLaura as CEO, Brings Series B to $51M
[Updated and corrected 7/14/16, 5:49 p.m. ET. See below.] Second Genome, a biotech trying to create small-molecule drugs using its microbiome research, has hired a new CEO and president: Glenn Nedwin, the former CEO of Taxon Biosciences, a microbiome company that was acquired by Dupont last year. Nedwin is replacing Peter DiLaura, the company’s CEO … Continue reading “Second Genome Replaces DiLaura as CEO, Brings Series B to $51M”
Decibel Therapeutics Hires Biogen Exec Steven Holtzman as New CEO
Decibel Therapeutics has hired Steven Holtzman, a former Biogen executive, as its president and chief executive officer. Holtzman has had a long career in executive roles, including as CEO and board director at Infinity Pharmaceuticals and the chief business officer of Millennium Pharmaceuticals. Holtzman most recently came from the role of executive vice president for … Continue reading “Decibel Therapeutics Hires Biogen Exec Steven Holtzman as New CEO”
San Antonio’s StemBioSys Brings Product to South Korea With SeouLin
San Antonio — StemBioSys has inked its second distribution deal in as many months, announcing plans today to bring its stem cell production products to South Korea in the coming weeks. Korean life science equipment distributor SeouLin Bioscience Co. will begin selling StemBioSys products in the country, with products going on the market in the next few … Continue reading “San Antonio’s StemBioSys Brings Product to South Korea With SeouLin”
With Positive Postpartum Results, Sage Ponders More Mood Disorders
[Corrected 11:53 a.m. See below.] Sage Therapeutics’ new clinical trial results for postpartum depression may have a far-reaching impact not only on women who suffer from the condition but also on the direction of Sage itself. The Cambridge, MA-based drug developer said this morning that its therapy succeeded in ending depression in women during a … Continue reading “With Positive Postpartum Results, Sage Ponders More Mood Disorders”
Tissue Analyzer 3Scan Builds Out Machine Learning With $14M Series B
3Scan, a San Francisco company that uses knife-shaped diamonds to cut, scan, and analyze biological tissue, has raised a $14 million round of funding from Lux Capital and Data Collective. The company plans to use the cash for expanding its existing imaging systems and software, as well as pushing forward its ability to help with … Continue reading “Tissue Analyzer 3Scan Builds Out Machine Learning With $14M Series B”
Filestack, Owned by Scaleworks, Rides Wave of Interest in API Services
San Antonio—If you build it, will they buy your application programming interface? Increasingly, it seems so. With tech companies such as Uber and Lyft or Facebook and Instagram aiming to provide faster services to more people, a subset of companies has emerged that aims to provide niche software tools that are meant to take at … Continue reading “Filestack, Owned by Scaleworks, Rides Wave of Interest in API Services”
Eleven Bio’s Eye Disease Drug Set For $22.5M Milestone from Roche
Eleven Biotherapeutics says it’s in line for $22.5 million from partner Roche after an experimental eye treatment that the companies have partnered on hit a key early milestone that puts it on the path to starting clinical trials. In June, Eleven (NASDAQ: [[ticker:EBIO]]) licensed EBI-031, a drug it’s been developing for eye diseases like diabetic macular … Continue reading “Eleven Bio’s Eye Disease Drug Set For $22.5M Milestone from Roche”
After Three Deaths, FDA Halts Juno’s Leading CAR-T Trial
The FDA has halted a clinical trial of a closely-watched cell-based cancer immunotherapy from Seattle’s Juno Therapeutics after two patients died last week during the trial. Those deaths followed a death in May, Juno officials said today. Juno says all three patients died of cerebral edema, or swelling in the brain, and it thinks it … Continue reading “After Three Deaths, FDA Halts Juno’s Leading CAR-T Trial”
KaloBios Deals With Shkreli After Exiting Bankruptcy With New Cash
KaloBios Pharmaceuticals has signed an agreement with its former CEO, the embattled drug executive Martin Shkreli, to potentially buy back remaining stock Shkreli owns and to restrict his ability to sell his shares to others. The news comes a week after KaloBios—the Brisbane, CA-based biotech that was acquired by Shkreli shortly before his arrest on … Continue reading “KaloBios Deals With Shkreli After Exiting Bankruptcy With New Cash”
San Antonio’s Invictus Medical Board Member Replaces Roberts as CEO
San Antonio—Invictus Medical, the San Antonio maker of a medical device designed to alleviate pressure on the heads of newborns, has a new chief executive officer. Invictus board member Dennis Kane is now the company’s acting CEO, according to Invictus chief financial officer Eric Eisbrenner. Eisbrenner deferred further commentary to Kane, who has not responded … Continue reading “San Antonio’s Invictus Medical Board Member Replaces Roberts as CEO”
Pfizer Might Buy Bind Therapeutics From Bankruptcy for $20M
Bind Therapeutics and its treatment for non-small cell lung cancer may soon be owned by one-time partner Pfizer. Bind, which filed for Chapter 11 bankruptcy in May, asked the bankruptcy court on July 1 to approve a stalking-horse bid from Pfizer for $20 million, a fraction of the $70.5 million it raised in an initial … Continue reading “Pfizer Might Buy Bind Therapeutics From Bankruptcy for $20M”
Affordable Homes Through Software and Design: The Rising Barn Story
San Antonio—The founders of Rising Barn didn’t even know each other when they started working on what would become their San Antonio, TX-based company, which uses software to build affordable housing with designs developed by an architect. Pegy Brimhall is the architect. She wanted to take her expertise in designing manageable, easily constructible skyscrapers for … Continue reading “Affordable Homes Through Software and Design: The Rising Barn Story”
Alnylam Advances RNAi Drug Results After Two Years of Treatment
Alnylam Pharmaceuticals is marching forward in its pursuit of developing a pair of RNA interference drugs that aim to reduce the levels of a protein known to cause a type of rare disease that can harm the nervous system or the heart—but there’s still plenty of work left to be done, even after the company … Continue reading “Alnylam Advances RNAi Drug Results After Two Years of Treatment”
San Antonio Buys Time on Regulations to Find Place in Uber Economy
San Antonio—For those engaged in the ongoing saga of Uber and Lyft versus fingerprinting, the next date to mark is in October, at least in the Alamo City. Uber, Lyft, and Get Me will be able to continue offering rides to the people of San Antonio until at least October, after a decision yesterday by … Continue reading “San Antonio Buys Time on Regulations to Find Place in Uber Economy”
San Antonio Economic Foundation Targets Youth with New CEO Hire
San Antonio — [Corrected 6/30/16, 9:52 a.m. See below.] The San Antonio Economic Development Foundation, one of several organizations working to promote business development in the Alamo City, has hired a new president and CEO: Jenna Saucedo-Herrera, an executive at the city-owned gas and electric utility CPS Energy. The foundation, a nonprofit, works with city … Continue reading “San Antonio Economic Foundation Targets Youth with New CEO Hire”
Modern Meadow Collects $40M for Real Leather With ‘No Cow Involved’
Modern Meadow, a New York-based company that has developed a method of turning living cells into materials used to make leather that mimics animal hide, has received a $40 million Series B funding to begin manufacturing and commercializing its leather products. The company has developed a line of cells that produce collagen, a protein that … Continue reading “Modern Meadow Collects $40M for Real Leather With ‘No Cow Involved’”
San Antonio Cybersecurity Incubator Sprouts From Grassroots Effort
San Antonio—Starting a business is no small feat, especially if you’re doing it for the first time, given the seemingly endless list of questions to answer about a business model. The toughest question: Who do I ask for help? That’s part of the thinking behind the creation of a new cybersecurity incubator founded this week … Continue reading “San Antonio Cybersecurity Incubator Sprouts From Grassroots Effort”
With Tech Charter School, San Antonio Groups Aim to Boost Workforce
San Antonio—For many startups, finding the right people is at least as important as developing the right idea. The sooner you build out a talented staff, the sooner you can implement your plan. In San Antonio, city leaders, a local grocery store chain, and an industry-focused nonprofit are taking that concept to a new level … Continue reading “With Tech Charter School, San Antonio Groups Aim to Boost Workforce”
Web Communications Company Twilio Raises $150M in IPO
Twilio, a Web communications company reportedly valued at more than $1 billion after a financing last year, raised $150 million in its initial public offering today, according to a press release. The San Francisco-based company sold 10 million shares for $15 each, higher than its expected range of $12 to $14 a share. The company … Continue reading “Web Communications Company Twilio Raises $150M in IPO”
Texas Roundup: Innovative Cities, Launches, & Deals, Deals, Deals!
Beat from the Texas heat? Try to cool down inside while catching up on some headlines from Xconomy Texas this month. But be careful: It’s acquisition season, and deal-making has been hot. —Austin’s Savara Pharmaceuticals is buying two inhalable drugs in its acquisition of Danish drug developer Serendex Pharmaceuticals, which delisted from the Oslo Stock … Continue reading “Texas Roundup: Innovative Cities, Launches, & Deals, Deals, Deals!”
Inhaled-Drug Maker Savara Buys European Biotech With Two Candidates
Austin—Savara Pharmaceuticals, a privately held drug developer with an inhaled formulation of an antibiotic for a type of lung infection, is announcing today that it is acquiring two new drug programs. The Austin, TX-based company also is seeking new funding that could precede an initial public offering. “Now that we have multiple products in the … Continue reading “Inhaled-Drug Maker Savara Buys European Biotech With Two Candidates”
Data Tracker and Analytics Provider Umbel Buys Lodestone
Austin — Data analytics is all but ubiquitous in most startup businesses—at that, most businesses in general at least try some sort of analytics in hopes of boosting revenues by tracking customers’ buying habits and interests. Umbel, a six-year-old Austin, TX-based startup, has built software that aims to integrate all of the various data points … Continue reading “Data Tracker and Analytics Provider Umbel Buys Lodestone”
Talkspace Raises $15M Series B for Texting, Video Therapy Service
Talkspace, an online therapy service that lets users text and video message with real therapists, has raised a $15 million Series B round from Northwest Venture Partners and existing investors Spark Capital, Soft Bank, Metamorphic Ventures, and TheTime, according to a press release. The New York-based company plans to spend the money on adding more … Continue reading “Talkspace Raises $15M Series B for Texting, Video Therapy Service”
San Antonio’s Infocyte Takes Cybersecurity Threat Hunting to Linux
San Antonio — For any modern company, it’s always possible that some hacker has breached its security network, and is waiting to mine private information or steal other data. The fear is more prevalent today than ever as stories of security breaches range from Sony to Zuckerberg. That type of thinking has sparked a cybersecurity … Continue reading “San Antonio’s Infocyte Takes Cybersecurity Threat Hunting to Linux”
San Antonio’s Incell, Belgian Investor Hatch JV for Bio Products
San Antonio — [Corrected 6/10/16, 11:10 a.m. See Below.] Incell, a contract manufacturer for the biotech industry for two decades, is starting a new business with a Belgian investor. Its purpose: to potentially produce a slew of spin-offs. Called BioTurnKey, the new business is a joint venture between Incell and Wisetree Invest, a Belgian firm that … Continue reading “San Antonio’s Incell, Belgian Investor Hatch JV for Bio Products”
Cloud Therapy Uses Watson to Help Doctors, Pharma With Diagnoses
San Antonio — Andre Sandoval was born with a rare genetic condition. It was five months before his physician delivered a definitive diagnosis: he had a derivative of symphalangism, a stiffness of the hand caused when some of the finger joints are fused together. For Sandoval, a recent graduate of Trinity University in San Antonio, … Continue reading “Cloud Therapy Uses Watson to Help Doctors, Pharma With Diagnoses”
Social Service Database Aunt Bertha Gets $5M From Techstars Ventures
Austin — Aunt Bertha, an Austin, TX, company with a searchable database of social services providers, has raised a $5 million round of Series B funding led by Techstars Ventures as it builds an index of health and human services programs available in cities across the U.S. The company’s website lets users search for any … Continue reading “Social Service Database Aunt Bertha Gets $5M From Techstars Ventures”
San Antonio Researchers Plan Trials for Drug Combo to Treat Ebola
San Antonio — Researchers in the Alamo City believe have discovered a drug combination that they believe could work as a therapy against the Ebola virus, and have won a $3.4 million contract from an agency at the Department of Defense to test the combo in early clinical trials. Success will partly depend on a … Continue reading “San Antonio Researchers Plan Trials for Drug Combo to Treat Ebola”
Vista Equity Makes Second Deal in Two Days With Ping Identity Buyout
If you were thinking about selling your company for a couple billion dollars, now might just be the time to try it. A day after Vista Equity Partners announced it would buy marketing automation software developer Marketo for $1.79 billion, the private equity firm has announced a second deal: Vista said today it is paying an … Continue reading “Vista Equity Makes Second Deal in Two Days With Ping Identity Buyout”
In First Distribution Deal, StemBioSys Teams with Funakoshi in Japan
San Antonio — StemBioSys has signed a three-year marketing and distribution deal with Funakoshi Co. Ltd to bring its stem cell production products to Japan, the San Antonio startup’s first distribution deal. Funakoshi, which is based in Tokyo, distributes both advanced and basic life science research instruments throughout the country. The deal will allow Funakoshi … Continue reading “In First Distribution Deal, StemBioSys Teams with Funakoshi in Japan”
RA Capital Seeds Peanut Allergy Prevention Startup With $1.7M
A Boston startup that aims to prevent babies from developing peanut allergies has raised $1.7 million in seed funding from RA Capital Management, a “crossover” investor that backs both public and private companies. That money will help Antera Therapeutics, which was founded in 2014, begin selling what it calls Aralyte, a liquid formula containing small … Continue reading “RA Capital Seeds Peanut Allergy Prevention Startup With $1.7M”
San Antonio VR Headset Maker Merge Lands New Funding, Expands Sales
San Antonio — [Updated 1 p.m. See below.] Virtual reality headset maker Merge Labs has raised $10.1 million in new equity funding, according to a filing with the U.S. Securities and Exchange Commission. The company, which sells virtual reality headsets marketed as Merge VR Goggles for $79, had previously raised about $3 million in seed … Continue reading “San Antonio VR Headset Maker Merge Lands New Funding, Expands Sales”
InCube, Pitt Building Device to Restore Bladder After Spinal Injury
San Antonio — There are obvious physical difficulties that people with spinal-cord injuries face. One that may not be top of mind, but can be both physically and emotionally taxing, is the inability to control their bladders, says Pratap Khanwilkar of San Antonio’s InCube Labs. InCube Labs is working with a researcher from the University … Continue reading “InCube, Pitt Building Device to Restore Bladder After Spinal Injury”
San Antonio Bootcamp Codeup Promotes Ex-Rackspace Employee to CEO
San Antonio — Web developer bootcamp Codeup has a new CEO: Kay Jones, a longtime Rackspace employee, is taking over the helm from co-founder Michael Girdley. Jones joined San Antonio-based Codeup in February as chief operating officer, coming off of more than a decade in various roles at Rackspace (NYSE: [[ticker:RAX]]). Her most recent position … Continue reading “San Antonio Bootcamp Codeup Promotes Ex-Rackspace Employee to CEO”
Early Stage San Antonio Drug Trial Firm START Opens Taiwan Outpost
San Antonio — With the number of scientists, researchers, executives, and patients involved in any given drug approval process, it’s easy to gloss over the early work that goes into clinical testing, especially when most patient awareness about a drug comes after it gains FDA approval. For a company like South Texas Accelerated Research Therapeutics … Continue reading “Early Stage San Antonio Drug Trial Firm START Opens Taiwan Outpost”
General Assembly Brings Tech Training Event to San Antonio Saturday
San Antonio—General Assembly and San Antonio co-working space Geekdom are hosting a day of free tech workshops and training in San Antonio this weekend. The event is being held Saturday at the Geekdom Event Centre starting at 2 p.m. and is open to the public, though the hosts are asking for online RSVPs here. The … Continue reading “General Assembly Brings Tech Training Event to San Antonio Saturday”
Agenovir Gets $10.6M To Take on Viral Infections With CRISPR
The gene editing system known as CRISPR-Cas9 has electrified the world of science and led to a slew of startups, including two—Editas Medicine and Intellia Therapeutics—that have already gone public. The latest to join the fray is Agenovir, a company incubated at Johnson & Johnson’s JLABS accelerator in South San Francisco that aims to use … Continue reading “Agenovir Gets $10.6M To Take on Viral Infections With CRISPR”
Indiana’s SpeechVive Nabs $2M for Parkinson’s Speech Devices
SpeechVive, an Indianapolis startup that’s building medical devices for people with Parkinson’s disease, has received nearly $2.3 million in grant money and venture capital to design and build a method for programming its devices. Based on 15 years of research from Purdue University professor Jessica Huber, the company has received $1.3 million from the National … Continue reading “Indiana’s SpeechVive Nabs $2M for Parkinson’s Speech Devices”
Learn These Tech Skills & Get a Raise, PayScale Report Says
Want to make a few extra (thousand) bucks? For software developers, it’s possible if you add a few trending programming languages to your resume, according to Seattle-based PayScale, a crowdsourcing and data analytics company that seeks out and provides salary information. Developers and programmers who learn the Go or Scala computer programming languages will make … Continue reading “Learn These Tech Skills & Get a Raise, PayScale Report Says”
Blockchain, Fashion, Rockets, & More: Austin A-List Awards 2016
Austin—From a company developing rockets that can blast satellites into space to a business that decodes your dog’s genome, twelve local companies were honored this week as A-List startups by the Austin Chamber of Commerce and South by Southwest Interactive. The twelve companies were broken down into three categories: emerging, growth, and scale. A Rising … Continue reading “Blockchain, Fashion, Rockets, & More: Austin A-List Awards 2016”
UT System Invests $12.4M to Bring Big Data Analytics to Patient Care
Austin—The University of Texas System is dedicating $12.4 million to build a “big data” analytics network for its system of hospitals. The network, which is going to be developed over the next four years, will collect anonymous patient and administrative data from its hospitals around the state. That information will be used to analyze and … Continue reading “UT System Invests $12.4M to Bring Big Data Analytics to Patient Care”
J&J Company DePuy Synthes Buys San Antonio’s BioMedical Enterprises
San Antonio—BioMedical Enterprises, the San Antonio, TX-based maker of nickel-titanium alloy implants used to help small bones heal, has been acquired by a DePuy Synthes, a group of medical device companies owned by Johnson & Johnson (NYSE: [[ticker:JNJ]]). Terms were not disclosed. DePuy is interested in BioMedical Enterprises (BME) because of the variety of implants … Continue reading “J&J Company DePuy Synthes Buys San Antonio’s BioMedical Enterprises”
After ExactTarget: Salesforce Plans $40M Indy Expansion, 800 Hires
Salesforce is hiring more than 800 people in Indianapolis during the next five years as part of its plan to spend $40 million expanding its regional headquarters in the city over the next decade, the company said in a statement this month. The San Francisco-based company already employs about 1,000 people in Indianapolis, and more … Continue reading “After ExactTarget: Salesforce Plans $40M Indy Expansion, 800 Hires”
PureTech’s Alivio Debuts With Drug-Delivery Gel for Inflammation
Biotech company creator PureTech Health is celebrating Mother’s Day with twins. Hours after announcing its newest spinout, a cell therapy-focused startup, the company says it is launching Alivio Therapeutics to develop a therapy for chronic and acute inflammation. Alivio has a hydrogel material that it said is designed to adhere to inflamed tissue and deliver … Continue reading “PureTech’s Alivio Debuts With Drug-Delivery Gel for Inflammation”