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.

Cadent Pulls In $40M for Phase 2 Tests of Movement Disorder Drug

The shaking, tremors, and loss of muscle control in some movement disorders can be traced to misfiring neurons. Cadent Therapeutics has developed a drug intended to help those neurons send signals properly. The Cambridge, MA-based company now has $40 million in Series B funding to advance the drug into mid-stage human studies. The Cadent drug, … Continue reading “Cadent Pulls In $40M for Phase 2 Tests of Movement Disorder Drug”

Celgene Doubles Down on Dragonfly, Pays $50M to Expand Cancer Pact

Celgene’s collaboration with Dragonfly Therapeutics is less than 18 months old, but the pharmaceutical company is already expanding the alliance. Celgene (NASDAQ: [[ticker:CELG]]) is paying Waltham, MA-based Dragonfly $50 million upfront to add four more drug targets to the four covered by the original partnership last year. Celgene has the option to license and further … Continue reading “Celgene Doubles Down on Dragonfly, Pays $50M to Expand Cancer Pact”

Kymera Adds $65M in New Funding and Eyes First Clinical Test

Cells have a built-in way of breaking down damaged or unneeded proteins. Kymera Therapeutics is trying to harness this process as a therapy—using it to get rid of disease-causing proteins. As the biotech prepares to test its technology in humans, it has now raised $65 million in financing. The cellular process for disposing of proteins … Continue reading “Kymera Adds $65M in New Funding and Eyes First Clinical Test”

Allergan’s Ellen Lubman Joins Impel NeuroPharma’s C-Suite

Impel NeuroPharma has appointed Ellen Lubman to serve as its chief business officer. Lubman comes to the Seattle biotech from Allergan (NYSE: [[ticker:AGN]]), where she was vice president of external science and innovation. Impel develops drugs that can be delivered through the nose to the brain. The company’s lead drug, INP104, is in late-stage testing … Continue reading “Allergan’s Ellen Lubman Joins Impel NeuroPharma’s C-Suite”

Allogene, Cortexyme & RDMD Headline Xconomy’s Dec. 5 Biotech Forum

Each new technology has a story behind it. On Dec. 5, our Xchange Forum will offer a behind-the-scenes look at how some of them aim to transform healthcare. Xconomy’s San Francisco Biotech: The Next Generation, will feature three Bay Area companies, each of them tackling a different challenge in the life sciences. RDMD, for example, … Continue reading “Allogene, Cortexyme & RDMD Headline Xconomy’s Dec. 5 Biotech Forum”

InCarda Breathes In $42M for Clinical Tests of Inhalable Heart Drug

Treatments for patients who have atrial fibrillation (AF), an irregular heartbeat, include pills that take time to work, or hospital-based procedures. InCarda Therapeutics aims to offer an alternative: a fast-acting inhalable drug that patients would take at home. The startup is moving ahead with mid-stage clinical testing of its drug and has raised $42 million … Continue reading “InCarda Breathes In $42M for Clinical Tests of Inhalable Heart Drug”

FDA Approves Elanco Cattle Drug, the First for Reducing Gas Emissions

A product that reduces emissions from farm animal waste? There’s now a drug for that. The FDA has approved an Elanco (NYSE: [[ticker:ELAN]]) drug developed to reduce the ammonia gas released from cattle manure. The agency says its Tuesday decision on the product, lubabegron (Experior), marks the first time it has approved a drug that … Continue reading “FDA Approves Elanco Cattle Drug, the First for Reducing Gas Emissions”

BlackThorn Names Bill Martin President & Chief Operating Officer

BlackThorn Therapeutics has promoted Bill Martin to president and chief operating officer. Martin had served as the San Francisco company’s chief scientific officer. He succeeds Greg Vontz as president. Vontz, who also held the role of CEO, has left the company. In other moves, BlackThorn appointed Paul Berns, a venture partner at ARCH Venture Partners, … Continue reading “BlackThorn Names Bill Martin President & Chief Operating Officer”

Aileron Therapeutics Names Vojislav Vukovic Chief Medical Officer

Vojislav Vukovic has joined Aileron Therapeutics (NASDAQ: [[ticker:ALRN]]) to serve as the Watertown, MA, company’s chief medical officer. He succeeds Manual Aivado, who was promoted to CEO in September. Vukovic was most recently chief medical officer of Taiho Oncology. Aileron is testing its lead drug candidate, ALRN-6924, in multiple clinical trials as a treatment for … Continue reading “Aileron Therapeutics Names Vojislav Vukovic Chief Medical Officer”

Eli Lilly Commits $40M to NextCure in Hunt for New Cancer Drugs

Eli Lilly hasn’t been shy about making deals to build up its cancer immunotherapy pipeline, and its latest one is with NextCure, a biotech with technology that finds molecular targets to drive an immune response to tumors. The Indianapolis pharmaceutical giant is paying privately held NextCure $25 million up front in the alliance, which was … Continue reading “Eli Lilly Commits $40M to NextCure in Hunt for New Cancer Drugs”

Amgen’s Gabriel Vargas Joins CuraSen as Chief Medical Officer

Gabriel Vargas has been appointed chief medical officer of San Mateo, CA-based CuraSen Therapeutics. Vargas was most recently executive medical director, digital health and neuroscience therapeutic area head for early development at Amgen (NASDAQ: [[ticker:AMGN]]). Last month, CuraSen closed a $54 million Series A round of financing to support its development of small molecule drugs … Continue reading “Amgen’s Gabriel Vargas Joins CuraSen as Chief Medical Officer”

PhageNova Bio Appoints Renata Pasqualini Chief Scientific Officer

Renata Pasqualini has been named chief scientific officer of New York-based PhageNova Bio. Pasqualini is a founder of the company, which recently changed its name from AAVP Biosystems. She is a professor and the chief of the division of cancer biology in the department of radiation oncology at the Rutgers Cancer Institute. Preclinical-stage PhageBio is … Continue reading “PhageNova Bio Appoints Renata Pasqualini Chief Scientific Officer”

Amgen Picks Provention to Continue Development of Celiac Disease Drug

For the second time in three years, Amgen is turning to a smaller biotech to continue clinical development of an experimental celiac disease drug that was developed in its labs. Under a deal announced Monday, Provention Bio (NASDAQ: [[ticker:PRVB]]) will license the Amgen (NASDAQ: [[ticker:AMGN]]) drug, AMG714, and test it in a mid-stage study. Amgen … Continue reading “Amgen Picks Provention to Continue Development of Celiac Disease Drug”

Illumina Set to Acquire “Long-Read” DNA Sequencer PacBio for $1.2B

[Updated, 11/2/18, 11:09 a.m. ET. See below.] DNA sequencing giant Illumina is shoring up its position in genetic research through a cash deal to acquire Pacific Biosciences for approximately $1.2 billion. Under the agreement, Illumina (NASDAQ: [[ticker:ILMN]]) will pay $8 per Pacific Biosciences (NASDAQ: [[ticker:PACB]]) share, a 79 percent premium to the Wednesday closing stock … Continue reading “Illumina Set to Acquire “Long-Read” DNA Sequencer PacBio for $1.2B”

Intellia’s Adel Nada Joins Casebia as Chief Medical Officer

Casebia Therapeutics has appointed Adel Nada to serve as its chief medical officer. He comes to Cambridge, MA-based Casebia from Intellia Therapeutics (NASDAQ: [[ticker:NTLA]]), where he was vice president and head of clinical development. Formed in 2016, Casebia is a joint venture between Bayer and CRISPR Therapeutics (NASDAQ: [[ticker:CRSP]]) that is using CRISPR/Cas9 gene-editing to … Continue reading “Intellia’s Adel Nada Joins Casebia as Chief Medical Officer”

Intersect ENT Appoints Christine Kowalski Chief Operations Officer

Christine Kowalski has joined Intersect ENT (NASDAQ: [[ticker:XENT]]) as chief operations officer. Kowalski most recently served as vice president of supply chain strategy at Johnson & Johnson (NYSE: [[ticker:JNJ]]). Menlo Park, CA-based Intersect had previously disclosed that chief operating officer Rich Kaufman will retire in early 2019. The company said he will work with Kowalski … Continue reading “Intersect ENT Appoints Christine Kowalski Chief Operations Officer”

Sanofi Pledges $125M to Denali in Pact for Neuro, Inflammation Drugs

Sanofi sees potential in two early-stage Denali Therapeutics drugs as a way to reduce inflammation in the brain and throughout the body, and the two companies are teaming up to develop the compounds for tough-to-treat diseases including Alzheimer’s. Under the deal, Sanofi (NYSE: [[ticker:SNY]]) will pay Denali (NASDAQ: [[ticker:DNLI]]) $125 million up front. South San … Continue reading “Sanofi Pledges $125M to Denali in Pact for Neuro, Inflammation Drugs”

Twist Bioscience IPO Hauls In $70M for DNA Synthesis Technology

Synthetic biology company Twist Bioscience has joined the long list of life science firms going public this year, raising $70 million in its stock market debut. The San Francisco company sold 5 million shares at $14 apiece, which was within the $14 to $16 per share range it had targeted. After those shares started trading … Continue reading “Twist Bioscience IPO Hauls In $70M for DNA Synthesis Technology”

Harpoon Therapeutics Adds Holger Wesche, Georgia Erbez to C-Suite

Harpoon Therapeutics has promoted Holger Wesche to chief scientific officer. Wesche had been senior vice president, research, of the South San Francisco, CA-based cancer immunotherapy developer. Harpoon also named Georgia Erbez its chief financial officer. Erbez was most recently chief business officer and CFO of Zosano Pharma (NASDAQ: [[ticker:ZSAN]]). The executive moves follow Harpoon’s appointment … Continue reading “Harpoon Therapeutics Adds Holger Wesche, Georgia Erbez to C-Suite”

Former Celgene Exec Goncalves Joins Cara as Chief Medical Officer

Joana Goncalves has been named chief medical officer of Cara Therapeutics (NASDAQ: [[ticker:CARA]]). She comes to the Stamford, CT, company from Celgene (NASDAQ: [[ticker:CELG]]), where she was vice president, medical affairs for dermatology and neurology. Cara’s lead drug candidate, difelikefalin (Korsuva), is in late-stage testing as a treatment for chronic itching associated with chronic kidney … Continue reading “Former Celgene Exec Goncalves Joins Cara as Chief Medical Officer”

Melinta Chief Exec Wechsler Steps Down, Johnson Named Interim CEO

Melinta Therapeutics (NASDAQ: [[ticker:MLNT]]) CEO Dan Wechsler has stepped down from the company and its board of directors. In his place, the New Haven, CT, antibiotics company appointed board member John Johnson to serve as interim CEO. Wechsler joined Melinta last November. In a prepared statement, the company said he is leaving “to pursue other … Continue reading “Melinta Chief Exec Wechsler Steps Down, Johnson Named Interim CEO”

Novartis Exec Mitchener Joins Axcella as Chief Business Officer

Stephen Mitchener has been appointed senior vice president and chief business officer of Cambridge, MA-based Axcella Health. Mitchener’s experience includes 15 years at Novartis (NYSE: [[ticker:NVS]]), where he was most recently head of U.S. oncology strategy, partnering, and operations. In 2016, Axcella rebranded and turned its efforts toward developing drugs that treat metabolic dysregulation after … Continue reading “Novartis Exec Mitchener Joins Axcella as Chief Business Officer”

Bio Roundup: Alzheimer’s Puzzle, ESMO Assessed, Drug Prices & More

In the biotech investment and research communities this week, much of the attention was turned to Europe. Munich, Germany, hosted the annual conference of the European Society for Medical Oncology, where cancer drug developers unveiled the latest clinical data for experimental immunotherapies and drugs that treat the disease based on a tumor’s genetic signature. Also … Continue reading “Bio Roundup: Alzheimer’s Puzzle, ESMO Assessed, Drug Prices & More”

89Bio Joins NASH Chase with a Teva Drug and $60M in Funding

[Corrected 10/25/18, 5:26 p.m. See below.] The competition to develop a treatment for nonalcoholic steatohepatitis, a serious liver disorder, has another player. 89Bio launched Thursday with $60 million in financing and a lead compound originally developed by Teva Pharmaceutical. [Paragraph updated to correct dollar amount.] San Francisco-based 89Bio says that it has acquired a pipeline of … Continue reading “89Bio Joins NASH Chase with a Teva Drug and $60M in Funding”

Amgen Slashes Cholesterol Drug Price 60% to Match Rival Regeneron

[Updated, 10/25/18, 12:15 a.m. See below.] Amgen is cutting the list price of its new cholesterol-lowering drug by nearly 60 percent, a move the company says is intended to make the product more affordable for more patients. The move is a shot across the bow of Regeneron Pharmaceuticals (NASDAQ: [[ticker:REGN]]]). The Tarrytown, NY firm recently … Continue reading “Amgen Slashes Cholesterol Drug Price 60% to Match Rival Regeneron”

AstraZeneca’s Kevin Horgan Joins Seres as Chief Medical Officer

Kevin Horgan has been appointed executive vice president and chief medical officer of Seres Therapeutics (NASDAQ: [[ticker:MCRB]]). Horgan succeeds Michele Trucksis, who will continue to consult for the Cambridge, MA, microbiome drugs developer. Seres gave no reason for Tucksis’s departure. In a securities filing, the company said that she gave notice of her resignation on Oct. 17 … Continue reading “AstraZeneca’s Kevin Horgan Joins Seres as Chief Medical Officer”

Qpex Biopharma Launches with $33M to Tackle Drug-Resistant Infections

The Medicines Company exited the infectious disease business last year when it sold three bacteria-fighting products to Melinta Therapeutics. But Melinta didn’t get all of the company’s bug-fighting drugs, and what’s left has become a new company—Qpex Biopharma. San Diego-based Qpex has raised $33 million to advance The Medicines Company’s (NASDAQ: [[ticker:MDCO]]) old preclinical compounds toward … Continue reading “Qpex Biopharma Launches with $33M to Tackle Drug-Resistant Infections”

Abeona Therapeutics Appoints João Siffert Chief Medical Officer

João Siffert has been appointed head of research and development and chief medical officer of Abeona Therapeutics (NASDAQ: [[ticker:ABEO]]). As a result of Siffert’s hire, former chief medical officer Juan Ruiz will become head of European medical affairs. Siffert’s experience includes executive roles at Nestle Health Science, Avanir Pharmaceuticals, Avera Pharmaceuticals. New York-based Abeona is … Continue reading “Abeona Therapeutics Appoints João Siffert Chief Medical Officer”

Former Gilead Exec Kitty Yale Named Akero Chief Development Officer

Kitty Yale has been appointed chief development officer of Akero Therapeutics. She joins Akero from Gilead Sciences, where she was vice president of clinical operations. Akero emerged earlier this year with $65 million in financing and an experimental drug for the liver disease nonalcoholic steatohepatisis (NASH) that was licensed from Amgen (NASDAQ: [[ticker:AMGN]]). The company, … Continue reading “Former Gilead Exec Kitty Yale Named Akero Chief Development Officer”

LogicBio Prices IPO Below Range, Raising $70M to Test Gene Therapy

LogicBio Therapeutics has joined the list of biotechs to go public this year but it had to cut the price of its IPO and sell more shares to pull it off. The Cambridge, MA, biotech priced its offering of 7 million shares at $10 apiece, raising $70 million to back human tests of its experimental … Continue reading “LogicBio Prices IPO Below Range, Raising $70M to Test Gene Therapy”

Novartis Buys Endocyte for $2.1B, Making a Second Bet on Radiotherapy

Novartis has agreed to pay $2.1 billion cash to acquire Endocyte, expanding an ongoing effort by the Swiss firm to develop targeted radiation treatments for cancer. Under the agreement, Novartis (NYSE: [[ticker:NVS]]) will pay shareholders of West Lafayette, IN-based Endocyte (NASDAQ: [[ticker:ECYT]]) $24 per share, which is a 54 percent premium to the closing price … Continue reading “Novartis Buys Endocyte for $2.1B, Making a Second Bet on Radiotherapy”

AbbVie Commits $100M to Morphic in Fibrosis Drug R&D Alliance

AbbVie is positioning itself to add fibrosis drugs to its pipeline through a new research and development partnership with startup Morphic Therapeutics. Under the agreement, AbbVie (NYSE: [[ticker:ABBV]]) will pay Morphic $100 million up front for exclusive options to license the Waltham, MA, company’s fibrosis drugs. Morphic will be responsible for preclinical research and development. … Continue reading “AbbVie Commits $100M to Morphic in Fibrosis Drug R&D Alliance”

Nike’s Jim Scholefield Jumps to Merck to Lead Digital Strategy

Merck (NYSE: [[ticker:MRK]]) has appointed Jim Scholefield to serve as its chief information and digital officer. He starts his new job at the Kenilworth, NJ, pharmaceutical giant on Oct. 29. Scholefield is currently chief information officer at Nike (NYSE: [[ticker:NKE]]). His experience also includes executive roles at Coca-Cola (NYSE: [[ticker:KO]]), Northern Trust (NASDAQ: [[ticker:NTRS]]), and … Continue reading “Nike’s Jim Scholefield Jumps to Merck to Lead Digital Strategy”

Ziopharm Chief Medical Officer Francois Lebel to Step Down

Francois Lebel, chief medical officer of Ziopharm Oncology (NASDAQ: [[ticker:ZIOP]]), plans to step down from his position effective Oct. 26. The Boston cancer drug developer gave no reason for Lebel’s decision to leave the company. In a securities filing, Ziopharm said Lebel gave his notice on Oct. 10. Lebel has been Ziopharm’s chief medical officer … Continue reading “Ziopharm Chief Medical Officer Francois Lebel to Step Down”

Report: Express Scripts Shuts Out Teva Migraine Drug, Prefers Rivals

[Updated 10/17/18, 2:52 p.m. See below.] Express Scripts has just exerted its influence over the emerging market battle between drug makers trying to sell a new class of migraine-preventing medicines. The pharmacy benefits manager (PBM) is excluding a new drug from Teva Pharmaceutical from coverage while favoring two rival treatments instead, according to a report … Continue reading “Report: Express Scripts Shuts Out Teva Migraine Drug, Prefers Rivals”

Eli Lilly’s David Bleakman Joins Redpin as Chief Scientific Officer

Redpin Therapeutics has appointed David Bleakman to serve as chief scientific officer of the New York biotech. Before joining Redpin, Bleakman spent 25 years at Eli Lilly (NYSE: [[ticker:LLY]]), most recently as vice president, chief scientific officer, and neuroscience site leader in New York. Redpin, a resident company at JLABS @ NYC, is developing drugs … Continue reading “Eli Lilly’s David Bleakman Joins Redpin as Chief Scientific Officer”

Rheos Medicines Names Gad Soffer Chief Operating Officer

Gad Soffer has been appointed chief operating officer of Cambridge, MA-based Rheos Medicines. Soffer most recently worked at Atara Biotherapeutics, where he was executive vice president and chief strategy officer. Before Atara, Soffer was executive director and global project leader at Celgene (NASDAQ: [[ticker:CELG]]). Rheos launched in March with a $60 million Series A round … Continue reading “Rheos Medicines Names Gad Soffer Chief Operating Officer”

Warp Drive’s Odyssey Ends with a Buyout—By Revolution, Not Sanofi

Warp Drive Bio started up in 2012 with a potential buyer, Sanofi, already in place. Six years later the Cambridge, MA, company is being acquired—by another startup, Revolution Medicines. The companies aren’t disclosing financial details of the acquisition, other than to say that Warp Drive’s shareholders will be issued Revolution stock. Third Rock Ventures founded … Continue reading “Warp Drive’s Odyssey Ends with a Buyout—By Revolution, Not Sanofi”

Rhythm Pharma Appoints Murray Stewart Chief Medical Officer

Murray Stewart has been appointed chief medical officer of Rhythm Pharmaceuticals (NASDAQ: [[ticker:RYTM]]). Stewart joins Boston-based Rhythm from Novelion Therapeutics (NASDAQ: [[ticker:NVLN]]), where he was head of R&D. His experience also includes 18 years at GlaxoSmithKline (NYSE: [[ticker:GSK]]), where he held several roles, including chief medical officer. Last year, Rhythm raised $120 million in an … Continue reading “Rhythm Pharma Appoints Murray Stewart Chief Medical Officer”

Roche and SQZ Biotech Expand R&D Pact in Pursuit of New Cancer Drugs

Roche, the world’s biggest cancer drug company, selected the technology of startup SQZ Biotechnologies to help it develop new cellular therapies for cancer. Three years after that drug alliance started, the partners are now broadening the immune cells covered by the collaboration. The companies are expanding their drug development pact to encompass drugs based on … Continue reading “Roche and SQZ Biotech Expand R&D Pact in Pursuit of New Cancer Drugs”

Adynxx Agrees to Merger with Alliqua to Gain Public Stock Listing

The number of biotech companies completing an IPO has swelled this year and Adynxx aims to join their ranks—but through an alternate path. The pain drug developer has agreed to combine operations with publicly traded Alliqua Biomedical. Under the merger agreement announced Friday, shares of Adynxx will convert into Alliqua (NASDAQ: [[ticker:ALQA]]) stock, leaving former … Continue reading “Adynxx Agrees to Merger with Alliqua to Gain Public Stock Listing”

Allogene’s IPO Raises $288M for Tests of “Off-the-Shelf” Cell Therapy

Allogene Therapeutics has raised $288 million in an IPO, marking one of the biggest stock market debuts for a biotech this year. The cell therapy developer sold 18.4 million shares at $18 apiece, within the high end of its projected $16 to $18 per share range. Shares of South San Francisco, CA-based Allogene are expected … Continue reading “Allogene’s IPO Raises $288M for Tests of “Off-the-Shelf” Cell Therapy”

BioCrossroads Unveils New $9M Seed Fund for Biotech, Agbio Startups

Biotech startups in the Hoosier State now have a new source of funding for innovations at the early stage of development. BioCrossroads on Wednesday announced a $9 million seed fund. It’s the third fund for the public-private partnership, which formed to support the growth of the life sciences industry in Indiana. The latest fund will … Continue reading “BioCrossroads Unveils New $9M Seed Fund for Biotech, Agbio Startups”

CRISPR Therapeutics, Vertex Get FDA Green Light for Sickle Cell Test

[Corrected, 10/11/18, 11:12 a.m.] The FDA has lifted its hold on a clinical trial for a genetically engineered treatment for sickle cell disease, and CRISPR Therapeutics and Vertex Pharmaceuticals say they plan to start a Phase 1/2 study in the U.S. and Europe by the end of the year. Enrollment is already underway for a … Continue reading “CRISPR Therapeutics, Vertex Get FDA Green Light for Sickle Cell Test”

ContraVir Names Robert Foster Acting CEO in Executive Shuffle

Robert Foster is now acting CEO of ContraVir Pharmaceuticals (NASDAQ: [[ticker:CTRV]]). Foster, ContraVir’s chief scientific officer for the past two years, succeeds James Sapirstein, who had been the Edison, NJ, company’s chief executive since 2014. According to a securities filing, Sapirstein resigned as a director of the company effective Oct. 2. No reason for the … Continue reading “ContraVir Names Robert Foster Acting CEO in Executive Shuffle”

Harpoon Therapeutics Appoints Natalie Sacks Chief Medical Officer

Natalie Sacks has joined Harpoon Therapeutics as chief medical officer. Sacks comes to South San Francisco, CA-based Harpoon from Aduro Biotech (NASDAQ: [[ticker:ADRO]]) where she was chief medical officer. Harpoon, which develops cancer immunotherapies, raised $45 million in Series B funding last year as it worked to advance its drug programs toward clinical trials. The … Continue reading “Harpoon Therapeutics Appoints Natalie Sacks Chief Medical Officer”

Eyeing NASH, Glympse Raises $22M to Test Disease Detection Nanotech

Glympse Bio has developed sensor technology that it says can give clinicians an early look at a developing disease. As Glympse prepares to test its disease detection approach in a serious liver disorder, the startup has raised $22 million in Series A financing. LS Polaris Innovation Fund and Arch Venture Partners co-led the investment in Cambridge, … Continue reading “Eyeing NASH, Glympse Raises $22M to Test Disease Detection Nanotech”