Biotech startup creator Cydan is unveiling a new company, Tiburio Therapeutics, which is backed by $31 million to support its work on treatments for rare endocrine diseases. Cambridge, MA-based Cydan was started by New Enterprise Associates (NEA) six years ago to scour the world for compounds that can be turned into rare disease treatments, and … Continue reading “Tiburio Launches from Cydan with $31M to Tackle Pituitary Tumors”
Author: Frank Vinluan
Xconomy Editor Frank Vinluan is a business journalist with experience covering technology and life sciences. Based in Raleigh, he was a staff writer at the Triangle Business Journal covering technology, biotechnology and energy before joining MedCityNews.com as North Carolina bureau chief. Prior to moving to North Carolina’s Research Triangle in 2007 he held business reporting positions at The Des Moines Register and The Seattle Times.
Novan Promotes Stafford as Stasko Steps Down as President
Novan (NASDAQ: [[ticker:NOVN]]) has promoted Paula Brown Stafford to president and the newly created role of chief operating officer. Stafford, chief development officer of the Morrisville, NC, skin drugs developer since 2017, takes over the role of president held by company co-founder Nathan Stasko. Two years ago, Stasko relinquished the CEO post and became president … Continue reading “Novan Promotes Stafford as Stasko Steps Down as President”
Progenics Names Former Tocagen Exec Asha Das Chief Medical Officer
Progenics Pharmaceuticals (NASDAQ: [[ticker:PGNX]]) has appointed Asha Das to serve as chief medical officer. Das comes to the New York-based cancer drug developer from San Diego-based Tocagen (NASDAQ: [[ticker:TOCA]]), where she was chief medical officer. Progenics received FDA approval last July for iobenguane (Azedra), which was developed to treat tumors that form in and around … Continue reading “Progenics Names Former Tocagen Exec Asha Das Chief Medical Officer”
San Francisco Biotech: The Next Generation—Photos and Takeaways
Among the life science companies developing new approaches to disease today are those that will shape the healthcare of tomorrow. Earlier this month, Xconomy offered a select audience a peek at some of them making advances in the Bay Area. Three companies aiming to transform healthcare took to the stage at UCSF Mission Bay on … Continue reading “San Francisco Biotech: The Next Generation—Photos and Takeaways”
Gates Foundation, Bristol-Myers Join $27M Funding for Vedanta Bio
Microbiome drug developer Vedanta Biosciences has raised $27 million in funding to press forward with clinical trials for four therapeutic candidates. Vedanta’s experimental treatments are compositions of live bacteria that the Cambridge, MA, company says trigger a targeted immune response. By shifting the ecosystem of gut bacteria, Vedanta says its therapies can potentially treat autoimmune … Continue reading “Gates Foundation, Bristol-Myers Join $27M Funding for Vedanta Bio”
Former Nimbus Exec Rosana Kapeller Lands at GV
Rosana Kapeller, former chief scientific officer at Nimbus Therapeutics, is now entrepreneur-in-residence for life sciences at GV, according to an Endpoints News report. Kapeller co-founded Cambridge, MA-based Nimbus, a company that uses computational techniques to discover new drugs. At GV, the Mountain View, CA-based venture arm of Google, Kapeller will help start companies that apply … Continue reading “Former Nimbus Exec Rosana Kapeller Lands at GV”
Dova Terminates CEO Alex Sapir, Names David Zaccardelli Successor
Alex Sapir, president and CEO of Dova Pharmaceuticals (NASDAQ: [[ticker:DOVA]]), was terminated from the post on Dec. 16, the company said in a securities filing. No reason was given the termination of Sapir, who held the CEO post for less than two years. Durham, NC-based Dova said Sapir will remain an employee until Dec. 29. … Continue reading “Dova Terminates CEO Alex Sapir, Names David Zaccardelli Successor”
Gilead Sciences Commits $150M to Agenus in Cancer Drug R&D Pact
For the second time this week, Gilead Sciences has partnered with a Boston-area biotech, this time with a deal that covers up to five experimental cancer immunotherapies being developed by Agenus. Under the deal terms, Foster City, CA-based Gilead (NASDAQ: [[ticker:GILD]]) will pay Agenus (NASDAQ: [[ticker:AGEN]]) $120 million cash up front and make a $30 … Continue reading “Gilead Sciences Commits $150M to Agenus in Cancer Drug R&D Pact”
Relay Raises $400M to Kick Protein Motion Drug R&D into High Gear
The line dividing biotechnology and high tech is blurring as drug companies find new ways to apply computer advances in the hunt for new drugs. Relay Therapeutics uses these techniques to better understand a protein’s role in disease and develop a drug to address it. Cancer is Relay’s first target. The Cambridge, MA, biotech is … Continue reading “Relay Raises $400M to Kick Protein Motion Drug R&D into High Gear”
Safety Signal Prompts Surface Oncology to Scale Down Lead Program
Signs of a safety problem have Surface Oncology cutting back clinical trial plans for its lead drug only eight months after the company completed a $108 million IPO to finance clinical tests of the drug. The discovery of potential toxic effects of the drug, SRF231, in the dose-escalation portion of a Phase 1 study has … Continue reading “Safety Signal Prompts Surface Oncology to Scale Down Lead Program”
David Lebwohl Leaves Novartis for Chief Medical Post at Semma
Semma Therapeutics has appointed David Lebwohl to serve as chief medical officer. Lebwohl comes to the Cambridge, MA, regenerative medicine company from Novartis (NYSE: [[ticker:NVS]]), where he was senior vice president and franchise global program head of the CAR-T team. In other moves, Semma named David DiGiusto its chief technology officer. DiGiusto comes to Semma … Continue reading “David Lebwohl Leaves Novartis for Chief Medical Post at Semma”
NGM Bio’s Jeff Jonker Joins Ambys Medicines as President & CEO
Jeff Jonker has been appointed president and CEO of Ambys Medicines. Jonker comes to the Redwood City, CA-based biotech from NGM Bio, where he was president. His experience also includes senior positions at Theravance Biopharma (NASDAQ: [[ticker:TBPH]]), Satori Pharmaceuticals, and Genentech. Ambys is developing treatments for liver diseases. In August, Ambys launched with a $60 … Continue reading “NGM Bio’s Jeff Jonker Joins Ambys Medicines as President & CEO”
Entrada Therapeutics Nabs $59M for Drugs that Gain “Entry” to Cells
When it comes to getting a drug into a cell, size matters. Small molecules can easily pass through the cellular membrane in a way that larger therapeutic proteins can’t, which makes it difficult to develop a biological drug that can reach its target, says Dipal Doshi, CEO of biotech startup Entrada Therapeutics. Entrada, which translates … Continue reading “Entrada Therapeutics Nabs $59M for Drugs that Gain “Entry” to Cells”
Versant Ventures Unveils Two New Biotech Funds Totaling $700M
Two years after closing a $400 million fund for biotech investing, Versant Ventures is at it again, this time with $700 million in two new funds. The first of the new funds, Versant Venture Capital VII, is a $600 million biotech fund that the venture capital firm says will be invested in 20 or more … Continue reading “Versant Ventures Unveils Two New Biotech Funds Totaling $700M”
Otsuka’s Frank Czerwiec Joins Goldfinch Bio as Chief Medical Officer
Goldfinch Bio has appointed Frank Czerwiec to serve as its chief medical officer. Czerwiec joins the Cambridge, MA, biotech from Otsuka Pharmaceutical Development & Commercialization, where he was most recently vice president, global clinical development, leading the company’s cardio-renal and metabolic/medicine group. Goldfinch is developing treatments for genetically driven kidney diseases.
Merck Beefs Up Animal Health Unit with $2.4B Antelliq Acquisition
Merck has agreed to pay nearly $2.4 billion to acquire Antelliq Group, a privately held French company that makes devices used in monitoring and tracking animals. In addition to the cash payment, Merck (NYSE: [[ticker:MRK]]) said it will assume Antelliq’s approximately $1.3 billion debt, which it plans to repay shortly after the deal closes. After … Continue reading “Merck Beefs Up Animal Health Unit with $2.4B Antelliq Acquisition”
Bio Roundup: Eli Lilly Tries Tau, Generic Insulin, NASH Cash & More
Pharmaceutical industry critics lament the cost of rare disease drugs, but some of the steepest price hikes have come on widely used insulin. The patent holder, the University of Toronto, gave companies the right to manufacture insulin. But the university also allowed them to patent the improvements they made, which enabled them to slap higher … Continue reading “Bio Roundup: Eli Lilly Tries Tau, Generic Insulin, NASH Cash & More”
Carl Decicco Departs Bristol-Myers for Foghorn Executive Role
Foghorn Therapeutics has appointed Carl Decicco to serve as its chief scientific officer. Decicco joins the Cambridge, MA, biotech from Bristol-Myers Squibb (NYSE: [[ticker:BMY]]), where he was head of discovery. In addition to his executive role at Foghorn, Decicco will also serve as a venture partner at Flagship Pioneering, the venture capital firm that launched … Continue reading “Carl Decicco Departs Bristol-Myers for Foghorn Executive Role”
Hi Fidelity Genetics Raises $8.5M to Improve Plant Breeding With AI
Cross breeding plants is a time-tested practice for producing hybrids with higher crop yields. But finding the plant parents with the genetics that will generate the best hybrid takes time. Hi Fidelity Genetics says its artificial intelligence approach speeds up the process and reduces costs. As Hi Fidelity ramps up its research and development, the … Continue reading “Hi Fidelity Genetics Raises $8.5M to Improve Plant Breeding With AI”
Checkmate Pharmaceuticals Appoints Barry Labinger President & CEO
Barry Labinger has joined Checkmate Pharmaceuticals as president and CEO, the Cambridge, MA, company announced Wednesday. Labinger comes to the cancer drug developer from Biothera Pharmaceuticals, where he was president and CEO. His experience also includes leadership positions at Human Genome Sciences, 3M Pharmaceuticals, and Immunex. Labinger is succeeding Arthur Krieg, who is shifting to … Continue reading “Checkmate Pharmaceuticals Appoints Barry Labinger President & CEO”
Abbey Exits Bankrupt Argos, Takes CEO Post at Novadip Biosciences
Argos Therapeutics CEO Jeff Abbey has left the company and will start a new role as chief executive of Novadip Biosciences. Argos (OTCMKTS: [[ticker:ARGS]]) terminated Abbey’s employment on Nov. 30 in connection with the Durham, NC, company’s bankruptcy, according to a securities filing. Also losing their jobs were chief financial officer Richard Katz and chief … Continue reading “Abbey Exits Bankrupt Argos, Takes CEO Post at Novadip Biosciences”
Farm Startup Bowery Lands $90M to Take Indoor-Grown Greens National
Foodies in New York City may not realize it, but some of the tasty kale, bok choy, and other leafy greens they buy trace their origins to an industrial park in New Jersey. The produce grown by indoor farming startup Bowery never sees soil or natural sunlight before making its way to select restaurants and … Continue reading “Farm Startup Bowery Lands $90M to Take Indoor-Grown Greens National”
Former Merck, Purdue Pharma Exec Timney Named Medicines Company CEO
Mark Timney has been appointed CEO of The Medicines Company (NASDAQ: [[ticker:MDCO]]), effective immediately. Timney is also joining the Parsippany, NJ, company’s board of directors. Timney succeeds Clive Meanwell, who is now serving as chief innovation officer. Timney was CEO of Purdue Pharmaceuticals from 2014 to 2017. Before that, he spent six years at Merck … Continue reading “Former Merck, Purdue Pharma Exec Timney Named Medicines Company CEO”
Black Diamond Emerges with $20M, Aiming for Cancer’s Hidden Targets
Nearly two years ago, Versant Ventures used some of its new $400 million fund to set up a drug discovery unit in Europe. The goal was to produce drugs and technology to spin out into independent companies. The first to launch from that effort, Black Diamond Therapeutics, has just emerged with an unusual approach to … Continue reading “Black Diamond Emerges with $20M, Aiming for Cancer’s Hidden Targets”
Merck Exec Adam Schechter to Step Down, C-Suite Adds Two
Adam Schechter, president of global human health at Merck (NYSE: [[ticker:MRK]]), is stepping down from the position at the end of this year and shifting to an advisory role to the CEO, the company announced Monday. Schechter, who joined the Kenilworth, NJ, pharmaceutical giant in 1988, has been in his current post since 2010. Merck … Continue reading “Merck Exec Adam Schechter to Step Down, C-Suite Adds Two”
Marinus Claims Phase 2 Postpartum Depression Win, Analysts Less Sure
Marinus Pharmaceuticals says its treatment for postpartum depression (PPD) is showing encouraging results in a mid-stage study—enough to continue clinical development. But it’s unclear whether the results are statistically significant or enough to make the drug competitive against a Sage Therapeutics drug now awaiting an FDA decision for the same condition. Marinus (NASDAQ: [[ticker:MRNS]]) said … Continue reading “Marinus Claims Phase 2 Postpartum Depression Win, Analysts Less Sure”
GSK’s Katharine Knobil Joins Kaleido Bio as Chief Medical Officer
Katharine Knobil has been appointed chief medical officer and head of research and development of Kaleido Biosciences. Knobil joins Lexington, MA-based Kaleido from GlaxoSmithKline (NYSE: [[ticker:GSK]]) where she had increasing roles of responsibility in the past 20 years, most recently as the company’s chief medical officer. Kaleido, which was founded by venture capital firm Flagship … Continue reading “GSK’s Katharine Knobil Joins Kaleido Bio as Chief Medical Officer”
Sesen Bio Names Dennis Kim Chief Medical Officer
Dennis Kim has joined Sesen Bio (NASDAQ: [[ticker:SESN]]) as the Cambridge, MA, biotech’s chief medical officer. Kim’s experience includes posts at Ipsen, Spectrum Pharmaceuticals, Novartis (NYSE: [[ticker:NVS]]), and Amgen (NASDAQ: [[ticker:AMGN]]). Sesen was originally founded as Eleven Biotherapeutics. The company’s most advanced drug candidate, VB4-845, is in late-stage studies testing it as a treatment for … Continue reading “Sesen Bio Names Dennis Kim Chief Medical Officer”
SuperNus ADHD Drug to Head to FDA, But Is It Better Than a Generic?
An experimental attention deficit hyperactivity drug developed by SuperNus Pharmaceuticals has met the main goals of two late-stage studies, bolstering the company’s case that it could provide an alternative to currently available ADHD therapies. But shares of the Rockville, MD-based company promptly fell on concerns of whether the drug is any better than a widely … Continue reading “SuperNus ADHD Drug to Head to FDA, But Is It Better Than a Generic?”
Bristol-Myers Squibb’s Caroline Loew Named Glympse Bio CEO
Caroline Loew has been appointed president and CEO of Glympse Bio. Loew comes to the Cambridge, MA, company from Bristol-Myers Squibb (NYSE: [[ticker:BMY]]), where she was most recently vice president and head of R&D strategy and planning. Her experience also include positions at Merck (NYSE: [[ticker:MRK]]) and the Pharmaceutical Research and Manufacturers of America, a … Continue reading “Bristol-Myers Squibb’s Caroline Loew Named Glympse Bio CEO”
Sylvia Wulf to Succeed Ronald Stotish as AquaBounty CEO
AquaBounty Technologies (NASDAQ: [[ticker:AQB]]) has appointed Sylvia Wulf to serve as CEO. She is joining the Maynard, MA, aquaculture company from US Foods (NYSE: [[ticker:USFD]]), where she is a senior vice president. Her experience also includes posts at Tyson Foods (NYSE: [[ticker:TSN]]) and Sara Lee Corporation. Wulf will start her new role at AquaBounty on … Continue reading “Sylvia Wulf to Succeed Ronald Stotish as AquaBounty CEO”
OncoMed’s Saga Ends in Reverse Merger with UK-Based Mereo BioPharma
OncoMed Pharmaceuticals attracted hundreds of millions of dollars from investors and pharmaceutical partners with compounds it developed to target cells that drive cancer growth. But after a series of clinical trial stumbles and the dissolution of its drug development alliances over the last two years, OncoMed is now serving as a vehicle for a UK-based … Continue reading “OncoMed’s Saga Ends in Reverse Merger with UK-Based Mereo BioPharma”
Abeona Terminates CEO Carsten Thiel for “Personal Misconduct”
Seven months after departing Alexion Pharmaceuticals for the CEO role at Abeona Therapeutics, Carsten Thiel is out of the job. Thiel has been terminated due to “personal misconduct,” Abeona (NASDAQ: [[ticker:ABEO]]) said in a prepared statement. The New York company said the termination followed an investigation by independent members of the board of directors and … Continue reading “Abeona Terminates CEO Carsten Thiel for “Personal Misconduct””
BlueRock Therapeutics Adds Min Wang to C-Suite
Min Wang has been appointed chief legal and administrative officer of Cambridge, MA-based BlueRock Therapeutics. Wang was most recently general counsel and corporate secretary of Agios Pharmaceuticals (NASDAQ: [[ticker:AGIO]]). Her experience also includes posts at Genentech and Merck (NYSE: [[ticker:MRK]]). BlueRock, which develops regenerative medicines for tough-to-treat diseases, launched in late 2016 backed by $225 … Continue reading “BlueRock Therapeutics Adds Min Wang to C-Suite”
Auris Health Lands $220M to Expand Sales of Lung Testing Medical Robot
Auris Health has already received regulatory clearance to sell its medical robot in the U.S. Now it has $220 million in funding to help it place the technology in the hands of surgeons. The latest investment, which the company calls “growth financing,” was led by Partner Fund Management. Redwood City, CA-based Auris says it will … Continue reading “Auris Health Lands $220M to Expand Sales of Lung Testing Medical Robot”
Roche Gains Place in NASH Race with Purchase of Jecure Therapeutics
Roche is acquiring San Diego startup Jecure Therapeutics, with hopes of turning Jecure’s early research into a drug or drugs that treat the liver disease NASH. Through its South San Francisco, CA-based Genentech division, the Swiss pharmaceutical giant will acquire Jecure, whose work has yet to reach clinical studies, the companies announced Tuesday. No financial … Continue reading “Roche Gains Place in NASH Race with Purchase of Jecure Therapeutics”
Vertex Hits Again in CF as First Three-Drug Combo Succeeds in Phase 3
Vertex Pharmaceuticals already dominates the landscape of treatments for cystic fibrosis, and its position got even better today. Vertex (NASDAQ: [[ticker:VRTX]]) said that a cocktail of three of its cystic fibrosis drugs succeeded in two late-stage studies, bolstering the company’s chances to potentially offer a treatment that addresses up to 90 percent of patients who … Continue reading “Vertex Hits Again in CF as First Three-Drug Combo Succeeds in Phase 3”
ImmunoGen CFO David Johnston Resigns, Will Depart at End of Year
David Johnston, CFO of ImmunoGen (NASDAQ: [[ticker:IMGN]]) since 2013, has resigned effective immediately, the Waltham, MA-based company announced Monday. In a securities filing, ImmunoGen said Johnston he will remain an employee through the end of the year and then will serve as a paid consultant for up to 12 months. While ImmunoGen searches for Johnston’s … Continue reading “ImmunoGen CFO David Johnston Resigns, Will Depart at End of Year”
Takeda’s David Kerstein Joins Anchiano as Chief Medical Officer
David Kerstein has joined Anchiano Therapeutics as the company’s chief medical officer. Kerstein comes to Anchiano from Takeda Pharmaceutical (OTCMKTS: [[ticker:TKPYY]]), where he was senior medical director of oncology clinical research. Anchiano, which splits its operations between Cambridge, MA, and Jerusalem, Israel, develops cancer drugs. The company’s most advanced compound, inodiftagene vixteplasmid, is in a … Continue reading “Takeda’s David Kerstein Joins Anchiano as Chief Medical Officer”
FDA Halts Clinical Test of Zafgen Diabetes Drug, Stock Price Tumbles
The FDA has ordered Zafgen to suspend a mid-stage study testing its experimental diabetes drug, an apparent precautionary move. A clinical hold halts patient enrollment and also stops already enrolled patients from receiving the study drug due to a potential safety risk. No safety problems have been reported for the drug, ZGN-1061, so far. But … Continue reading “FDA Halts Clinical Test of Zafgen Diabetes Drug, Stock Price Tumbles”
Benjamin Harshbarger Steps In as Interim CEO at Novelion
Novelion Therapeutics (NASDAQ: [[ticker:NVLN]]) has appointed Benjamin Harshbarger interim CEO. Harshbarger had been general counsel for the Vancouver, BC-based company for the past two years. He is taking the place of Jeffrey Hackman, who Novelion says has resigned as interim CEO to pursue another opportunity. The company added that Hackman will remain with the company … Continue reading “Benjamin Harshbarger Steps In as Interim CEO at Novelion”
PellePharm Inks $70M Deal with LEO Pharma for Skin Cancer Drug
PellePharm now has a partner to finance late-stage clinical tests of its experimental treatment for a rare skin cancer that has no FDA-approved drug treatment. Denmark-based LEO Pharma has agreed to pay $70 million to PellePharm for the biotech startup’s Phase 3 study of patidegib, a topical gel developed to prevent and treat Gorlin syndrome. … Continue reading “PellePharm Inks $70M Deal with LEO Pharma for Skin Cancer Drug”
How Blockchain Is Finding a Place at Your Thanksgiving Table
The food we buy in grocery stores and restaurants has a story to tell about where it came from and each step it took on its journey to your dinner table. Blockchain technology can help tell that tale. The story many food companies want to tell these days is about safety. Earlier this year, an … Continue reading “How Blockchain Is Finding a Place at Your Thanksgiving Table”
Jason Ryan of Foundation Medicine Joins Magenta’s C-Suite
Magenta Therapeutics (NASDAQ: [[ticker:MGTA]]) has appointed Jason Ryan to serve as chief operating and financial officer, effective Jan. 1. Ryan is joining Cambridge, MA-based Magenta from Foundation Medicine, where he was CFO. Magenta, which is developing treatments for autoimmune diseases, blood cancers, and genetic diseases, completed its IPO in June.
Eli Lilly Executive Robert Brown Named Brickell Biotech CEO
Brickell Biotech has appointed Robert Brown to serve as CEO, starting Jan. 1. He will also join the Boulder, CO, company’s board of directors. Brown is taking the place of CEO and co-founder Reginald Hardy, who will remain on the board and will serve as an advisor to his successor. Brown is currently chief marketing … Continue reading “Eli Lilly Executive Robert Brown Named Brickell Biotech CEO”
Plant-Based Burger Maker Beyond Meat Cooks Up Plans for an IPO
We’ll soon find out if Wall Street has the appetite for investing in alternative meat technology. Beyond Meat, a maker of plant-based meat products, has filed for an IPO. The El Segundo, CA-based company set a preliminary target of $100 million for the stock offering, a figure that will likely change as the company moves … Continue reading “Plant-Based Burger Maker Beyond Meat Cooks Up Plans for an IPO”
Bio Roundup: Moderna’s IPO, Arena’s Comeback, E-Cig Survey & More
Thanksgiving is around the corner and this week delivered a bounty of deals that have a number of life science companies expressing their thanks a little early. One deal saw a company land a whopping $800 million upfront for a rights to a drug still in clinical testing. Another biotech landed a $98 million investment … Continue reading “Bio Roundup: Moderna’s IPO, Arena’s Comeback, E-Cig Survey & More”
Sigilon Therapeutics Names Deya Corzo Chief Medical Officer
Deya Corzo has been appointed chief medical officer of Sigilon Therapeutics. Corzo comes to the Cambridge, MA, drug developer from women’s health company Sojuournix, where she was senior vice president of R&D and chief medical officer. Her experience also includes posts at uniQure (NASDAQ: [[ticker:QURE]]) and Celgene (NASDAQ: [[ticker:CELG]]). Sigilon has developed a way to … Continue reading “Sigilon Therapeutics Names Deya Corzo Chief Medical Officer”
Genentech’s Elizabeth Jeffords Joins Alkahest C-Suite
Elizabeth Jeffords has joined Alkahest as chief commercial and strategy officer. Jeffords comes to the San Carlos, CA, biotech from Roche subsidiary Genentech, where she was vice president of the unit’s U.S. ophthalmology portfolio. Alkahest develops therapies for age-related diseases. The company’s pipeline includes drug candidates for Alzheimer’s disease and age-related macular degeneration.
Arena’s Comeback Continues with $800M Deal for Lung Disease Drug
[Updated, 11/15/18, 2:06 p.m. ET. See below.] Arena Pharmaceuticals continued its comeback Thursday, netting a whopping $800 million up front in a deal that hands United Therapeutics another experimental drug for the rare disorder pulmonary arterial hypertension (PAH). The deal gives United Therapeutics (NASDAQ: [[ticker:UTHR]]) worldwide rights to Arena’s (NASDAQ: [[ticker:ARNA]]) experimental drug ralinepag, which … Continue reading “Arena’s Comeback Continues with $800M Deal for Lung Disease Drug”