Anish Suri has been appointed chief scientific officer of preclinical-stage immunotherapy developer Cue Biopharma (NASDAQ: [[ticker:CUE]]). Suri most recently worked in Belgium at Janssen Immunosciences, where he was senior director. Cambridge, MA-based Cue, which went public at the end of 2017, is developing immunotherapies to treat cancers and autoimmune diseases.
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.
Atreca Names Orwin CEO, Serafini Becomes Chief Strategy Officer
Atreca has appointed John Orwin to serve as president and CEO of the Redwood City, CA, drug developer. He is also joining the company’s board of directors. Orwin must recently served as CEO of Relypsa, also based in Redwood City. He takes the place of Tito Serafini, Atreca’s co-founder. Serafini is shifting to the newly … Continue reading “Atreca Names Orwin CEO, Serafini Becomes Chief Strategy Officer”
FDA Approval of Portola Drug Puts Firm in Line for $100M Payday
The FDA has approved a Portola Pharmaceuticals drug that reverses the effect of blood thinners in cases of life-threatening bleeding. The decision comes two years after the regulator rejected the drug due to manufacturing concerns. The agency still has some concerns about the drug, andexanet alfa (Andexxa). The drug’s label must carry a boxed warning … Continue reading “FDA Approval of Portola Drug Puts Firm in Line for $100M Payday”
CEO Salzman, CMO Contouriotis Resign from Adverum Biotechnologies
Amber Salzman has resigned from her position as president and CEO of Adverum Biotechnologies (NASDAQ: [[ticker:ADVM]]) effective May 3. She has also stepped down from the Menlo Park, CA, gene therapy developer’s board. Adverum said in a securities filing that the resignation was a mutual decision as the board and Salzman agreed that the company is … Continue reading “CEO Salzman, CMO Contouriotis Resign from Adverum Biotechnologies”
Sarah Boyce Joins Akcea Therapeutics as President
Akcea Therapeutics (NASDAQ: [[ticker:AKCA]]) has named Sarah Boyce president of the Cambridge, MA-based drug developer. She is also joining the company’s board of directors. Boyce comes to Akcea from Carlsbad, CA-based Ionis Pharmaceuticals (NASDAQ: [[ticker:IONS]]), where she was chief business officer. Boyce’s move follows a March deal in which Ionis agreed to share the rights … Continue reading “Sarah Boyce Joins Akcea Therapeutics as President”
Unity Biotech IPO Raises $85M to Test Drugs for Diseases of Aging
Unity Biotechnology has yet to show that its drugs can treat diseases of aging in humans, but it now has $85 million to start those tests. The Brisbane, CA, drug developer priced its initial public offering late Wednesday by selling 5 million shares at $17 apiece, the midpoint of the $16 to $18 range it … Continue reading “Unity Biotech IPO Raises $85M to Test Drugs for Diseases of Aging”
Refuge Bio Turns to China for $25M Financing of Precision CRISPR R&D
Refuge Biotechnologies, a company researching ways to use CRISPR gene editing to make cancer treatment more precise, has raised $25 million in financing to continue work on its preclinical drug pipeline. China-based 3SBio and Sequoia China led the Series B round of investment in the Menlo Park, CA, company. CRISPR-Cas9 technology uses modified versions of … Continue reading “Refuge Bio Turns to China for $25M Financing of Precision CRISPR R&D”
Moving Beyond Obesity, Vivus Strikes $135M Deal for Digestive Drug
Sales of weight loss drugs have been light, and the Vivus drug Qsymia is no exception. Facing declining revenue as well as a looming mountain of debt, Vivus has been casting about for a new strategy. It looks like it’s found one. Campbell, CA-based Vivus (NASDAQ: [[ticker:VVUS]]) has agreed to pay $135 million for the … Continue reading “Moving Beyond Obesity, Vivus Strikes $135M Deal for Digestive Drug”
Bristol-Myers Latest to Drop IDO Studies in Wake of Incyte Failure
[Updated 5/1/18, 12:34 p.m. See below.] Drug giant Bristol-Myers Squibb is the latest to feel the shockwave caused by the failure of a widely watched cancer immunotherapy nearly a month ago. Xconomy has learned that Bristol (NYSE: [[ticker:BMY]]) is curtailing work on three late-stage studies testing an experimental cancer drug that it bought for $800 … Continue reading “Bristol-Myers Latest to Drop IDO Studies in Wake of Incyte Failure”
United Therapeutics Reaches $141M Deal for PAH Drug Firm SteadyMed
Drug developer SteadyMed has been building momentum to take on the established seller of a therapy for a rare lung disease. But the rivalry could be over before it even started. Instead of competing against the United Therapeutics line-up of therapies for pulmonary arterial hypertension, SteadyMed’s lead drug is now in line to join them. … Continue reading “United Therapeutics Reaches $141M Deal for PAH Drug Firm SteadyMed”
Diagnostics Developer Nanopore Wins Agtech and Food Startup Showcase
In both humans and farm animals, time is crucial when diagnosing illness. An early diagnosis means treatment can be given before the disease worsens. In some forms of aquaculture, the diagnostic time line stretches out a little longer. Fish farmers need to take a boat to the offshore cages where salmon are raised. Samples are … Continue reading “Diagnostics Developer Nanopore Wins Agtech and Food Startup Showcase”
Alder BioPharmaceuticals Appoints Erin Lavelle to New COO Role
Alder BioPharmaceuticals (NASDAQ: [[ticker:ALDR]]) has named Erin LaVelle to the newly created position of chief operating officer. Before joining Bothell, WA-based Alder, Lavelle was the general manager of the Taiwanese affiliate of Amgen (NASDAQ: [[ticker:AMGN]]). Alder says Lavelle will lead strategy and planning as the company prepares to bring its migraine drug, eptinezumab, to the … Continue reading “Alder BioPharmaceuticals Appoints Erin Lavelle to New COO Role”
Bio Roundup: CRISPR Tests, Parkinson’s Questions, Opioid Bills & More
Politics is more partisan than ever these days, but the opioid crisis might be one of the few issues where elected officials find common ground. This week, members of Congress exercised a bipartisan effort in both chambers to advance dozens of measures proposing various approaches to fighting the opioid epidemic. A Senate committee voted unanimously … Continue reading “Bio Roundup: CRISPR Tests, Parkinson’s Questions, Opioid Bills & More”
DARPA Enlists Insects in R&D Effort to Protect the Food Supply
Farmers spend a lot of time and money trying to keep insects from damaging their crops. But the U.S. military sees some of these bugs as potential friends, not foes. A government-funded research project is studying how to use insects to deliver a targeted therapy to a crop following an outbreak of disease, a disaster, … Continue reading “DARPA Enlists Insects in R&D Effort to Protect the Food Supply”
Raising $56M, Revolution Medicines Drops Old Work and Turns to Cancer
Revolution Medicines emerged three years ago to develop drugs from products found in nature and said its lead prospect would be an antifungal compound. Redwood City, CA-based Revolution is now focused on cancer and has raised $56 million to bring a completely different drug into clinical studies. The firm is targeting an enzyme called SHP2, … Continue reading “Raising $56M, Revolution Medicines Drops Old Work and Turns to Cancer”
FDA Panel Splits on Lilly Arthritis Drug, Backs Lower of Two Doses
Eli Lilly said enough to convince an FDA advisory panel that its experimental rheumatoid arthritis drug is effective in treating the inflammatory disorder. But on safety, the independent experts were not uniformly persuaded, and they voted to recommend approval only for the lower of two doses. It’s the second time the Lilly drug is up … Continue reading “FDA Panel Splits on Lilly Arthritis Drug, Backs Lower of Two Doses”
Torque Taps Thomas Andresen for Chief Scientific Officer
Thomas Andresen has been appointed chief scientific officer of immune-oncology therapies developer Torque. Andresen comes to the Cambridge, MA-based company from the Technical University of Denmark, where he was a professor in the department of micro-and nanotechnology. Andresen is also a Torque co-founder. Torque, which raised $25 million in a Series A round of financing … Continue reading “Torque Taps Thomas Andresen for Chief Scientific Officer”
Natera Names Paul Billings Chief Medical Officer
Paul Billings has been named chief medical officer and senior vice president of medical affairs of Natera (NASDAQ: [[ticker:NTRA]]). Billings’ experience includes serving as chief medical officer of Life Technologies and as consulting chief medical officer of Thermo Fisher Scientific’s (NYSE: [[ticker:TMO]]) genetic sciences division. San Carlos, CA-based Natera markets genetic assays, including prenatal tests … Continue reading “Natera Names Paul Billings Chief Medical Officer”
Safety Concerns Linger for Lilly’s Arthritis Drug as FDA Panel Looms
FDA staffers have expressed significant concerns about the side effects tied to Eli Lilly’s experimental rheumatoid arthritis drug baricitinib (Olumiant), which is once again up for review after the agency rejected it last year. Next week, a panel of independent experts will convene to evaluate the merits of baricitinib. The FDA looks to these advisory … Continue reading “Safety Concerns Linger for Lilly’s Arthritis Drug as FDA Panel Looms”
Surface Oncology’s Upsized IPO Reels In $108M for Lead Cancer Drug
Surface Oncology has raised $108 million from an initial public offering to finance clinical testing of its lead cancer immunotherapy. Cambridge, MA-based Surface priced its offering of 7.2 million shares at $15 each. The company had previously planned to sell 6 million shares in the range of $13 to $15 per share. Those shares are … Continue reading “Surface Oncology’s Upsized IPO Reels In $108M for Lead Cancer Drug”
Frequency Therapeutics Names William Chin Chief Medical Officer
Frequency Therapeutics has appointed William Chin to serve as the Woburn, MA, company’s chief medical officer. Chin’s previous experience includes posts at Eli Lilly (NYSE: [[ticker:LLY]]), where he was senior vice president, drug discovery and clinical investigation, and the Pharmaceutical Research and Manufacturers of America, where he was executive vice president of scientific and regulatory … Continue reading “Frequency Therapeutics Names William Chin Chief Medical Officer”
Clarify Medical Appoints George Mahaffey President & CEO
George Mahaffey has been appointed president and CEO of San Diego-based Clarify Medical. Mahaffey will also serve on Clarify’s board of directors. He takes the place of Rex Bright, who was named interim president and CEO in February. Bright will continue to serve on the board. Clarify is commercializing a light therapy device that has … Continue reading “Clarify Medical Appoints George Mahaffey President & CEO”
After FDA Approves Bone Disease Drug, Ultragenyx Sets $200K Price
Patients who have rickets experience a softening and weakening of their bones traced to a vitamin deficiency. In a rare, inherited form of the disease, vitamin D supplements don’t work. Ultragenyx (NASDAQ: [[ticker:RARE]]) has received FDA approval for a drug to treat patients who have this form of the disease, called X-linked hypophosphatemia (XLH). The … Continue reading “After FDA Approves Bone Disease Drug, Ultragenyx Sets $200K Price”
Agtech Startup Inocucor Enters Plant Nutrition with ATP Acquisition
[Updated, 4/20/18, 4:49 pm ET. See below.] Inocucor, an agtech startup that develops and sells microbial products intended to improve plant and soil health, is now expanding its reach with a deal that gives it a market position in plant nutrition. Denver-based Inocucor announced Tuesday that it has acquired plant nutrition company ATP Nutrition. No … Continue reading “Agtech Startup Inocucor Enters Plant Nutrition with ATP Acquisition”
Shire is Selling Cancer Business for $2.4B to Focus on Rare Disease
Shire plans to exit cancer drug development through a deal to sell its oncology unit to a French company, Servier, for $2.4 billion cash. Dublin, Ireland-based Shire (NASDAQ: [[ticker:SHPG]]), which operates a U.S. headquarters in Lexington, MA, says the deal helps it tighten its rare disease drug focus. Meanwhile, privately held Servier says adding Shire’s … Continue reading “Shire is Selling Cancer Business for $2.4B to Focus on Rare Disease”
Commense Selects Merrimack Pharma Veteran Edward Stewart for CEO
Microbial therapies developer Commense has appointed Edward “Tad” Stewart to serve as the Boston company’s president and CEO. Stewart was most recently chief business officer of Cambridge, MA-based Crescendo Biologics. Before that, he spent 15 years at Merrimack Pharmaceuticals (NASDAQ: [[ticker:MACK]]) as senior vice president, business development. Commense emerged from Boston startup creator PureTech in … Continue reading “Commense Selects Merrimack Pharma Veteran Edward Stewart for CEO”
Novan Makes Kelly Martin’s CEO Role Permanent
Kelly Martin has been named permanent CEO of Novan (NASDAQ: [[ticker:NOVN]]). The Morrisville, NC-based drug developer appointed Martin interim CEO last June, part of a corporate shakeup in which the company laid off 20 percent of its staff and shifted founding CEO Nathan Stasko to chief scientific officer. Those moves followed the failure of SB204, … Continue reading “Novan Makes Kelly Martin’s CEO Role Permanent”
Bridge Medicines Hires Renzetti as Chief Scientific Officer
Louis Renzetti has been appointed chief scientific officer of New York-based Bridge Medicines. Renzetti most recently worked as chief research and early development officer of Gotham Therapeutics, another New York biotech startup. Before that, he was senior vice president of drug discovery and early development for Waltham, MA-based X-Rx. His experience also includes early drug … Continue reading “Bridge Medicines Hires Renzetti as Chief Scientific Officer”
Assembly Biosciences Picks Papkoff for Chief Scientific Officer
Assembly Biosciences (NASDAQ: [[ticker:ASMB]]) has appointed Jackie Papkoff senior vice president and chief scientific officer, microbiome. Papkoff most recently was a senior vice president for Cambridge, MA-based Evelo Biosciences. Carmel, IN-based Assembly is developing treatments for disorders associated with the human microbiome. Last year, Assembly began a collaboration agreement with Allergan (NYSE: [[ticker:AGN]]) to develop … Continue reading “Assembly Biosciences Picks Papkoff for Chief Scientific Officer”
Despite Pain Drug’s Mid-Stage Miss, Adynxx Plans a Larger Phase 3 Test
An Adynxx pain drug has failed to meet the main goal of a mid-stage study, but the company instead points to results in a subset of patients that it says are strong enough to justify advancing the treatment into a larger Phase 3 clinical trial. Adynxx develops drugs to block proteins that control genes that … Continue reading “Despite Pain Drug’s Mid-Stage Miss, Adynxx Plans a Larger Phase 3 Test”
RubrYc Therapeutics Spins Out of HealthTell and Closes $10M Financing
RubrYc Therapeutics announced the closing of $10 million in financing as the startup presses ahead in its efforts to discover new antibody drugs. With the financing, San Ramon, CA-based RubrYc says it has completed its spinoff from HealthTell, a company that has developed tests for analyzing the immune system’s response to disease. RubrYc was founded … Continue reading “RubrYc Therapeutics Spins Out of HealthTell and Closes $10M Financing”
Jazz Pharma’s Craig Parker Tapped for Surrozen CEO Post
Surrozen has appointed Craig Parker to serve as CEO of the South San Francisco, CA, regenerative medicines developer. Parker takes the place of Tim Kutzkey, a managing partner at The Column Group, the venture capital firm that led Surrozen’s $33 million Series A financing last year. Kutzkey will now become chairman of Surrozen’s board of … Continue reading “Jazz Pharma’s Craig Parker Tapped for Surrozen CEO Post”
Abeona Therapeutics Names Alexion’s Thiel CEO, Miller Shifts to CSO
Carsten Thiel has been appointed CEO of Abeona Therapeutics (NASDAQ: [[ticker:ABEO]]). He succeeds Timothy Miller, who will remain president of the Dallas-based company and also take on new duties as chief scientific officer. Thiel comes to Abeona from New Haven, CT-based Alexion Pharmaceuticals (NASDAQ: [[ticker:ALXN]]), where he was executive vice president and chief commercial officer. … Continue reading “Abeona Therapeutics Names Alexion’s Thiel CEO, Miller Shifts to CSO”
With Alzheimer’s Failure, vTv Fares No Better Than Old Partner Pfizer
When vTv Therapeutics reacquired its ineffective Alzheimer’s drug from Pfizer in 2011, it thought it could produce better results by testing it in a larger group of patients. On Monday, vTv’s gambit proved unsuccessful. Like so many other Alzheimer’s drugs before it, vTv’s azeliragon failed, taking millions of investor dollars with it. It could not … Continue reading “With Alzheimer’s Failure, vTv Fares No Better Than Old Partner Pfizer”
Incyte, Merck Cancer Trial Failure Damages IDO Drugs’ Prospects
A late-stage clinical trial testing the combination of a Merck cancer treatment and a new type of cancer drug developed by Incyte has failed, dealing a blow to a new drug class that many hoped would expand the reach of cancer immunotherapy. The Phase 3 study in melanoma tested the FDA-approved Merck (NYSE: [[ticker:MRK]]) cancer … Continue reading “Incyte, Merck Cancer Trial Failure Damages IDO Drugs’ Prospects”
Unity Biotech Files IPO to Bring Anti-Aging Drugs into Clinical Trials
[Corrected 4/6/18, 12:32 p.m. EDT. See below.] Three weeks after Unity Biotechnology raised $55 million in financing to bring its osteoarthritis drug candidate into human testing, the anti-aging biotechnology company is now laying out plans for an initial public stock offering. San Francisco-based Unity set a preliminary $85 million target for its IPO. The company … Continue reading “Unity Biotech Files IPO to Bring Anti-Aging Drugs into Clinical Trials”
Conatus Pharma’s Liver Disease Drug Flunks First Phase 2 Test
A Conatus Pharmaceuticals drug developed as a treatment for chronic liver disease has failed to beat a placebo in a mid-stage study, the first of four underway for the drug. Conatus (NASDAQ: [[ticker:CNAT]]) tested its drug, emricasan, in liver transplant patients whose hepatitis C virus has cleared, but who still have fibrosis or cirrhosis in … Continue reading “Conatus Pharma’s Liver Disease Drug Flunks First Phase 2 Test”
Depomed Names Bukofzer Chief Medical & Scientific Officer
Stan Bukofzer has been named senior vice president, chief medical and scientific officer of Newark, CA-based Depomed (NASDAQ: [[ticker:DEPO]]). Bukofzer was most recently chief medical officer of Ocera Therapeutics, which was acquired by Mallinkrodt (NYSE: [[ticker:MNK]]) last year. He succeeds Santosh Vetticaden, who Depomed says decided not to relocate to the company’s new headquarters in … Continue reading “Depomed Names Bukofzer Chief Medical & Scientific Officer”
Corvidia CEO Davidson Moves to CSO, de Garidel Named Chief Executive
Corvidia Therapeutics’ CEO Michael Davidson is taking a new role at the company as its chief scientific officer. Waltham, MA-based Corvidia has appointed Marc de Garidel to succeed Davidson as chief executive. De Garidel’s experience includes six years as chairman and CEO of France-based Ipsen. Corvidia’s lead drug is in a Phase 2 study testing … Continue reading “Corvidia CEO Davidson Moves to CSO, de Garidel Named Chief Executive”
Virta Health Hauls in $45M to Expand “Diabetes-Reversing” Software
Virta Health, a startup that is taking a software approach to treating diabetes rather than pills or injections, has raised $45 million in funding to support its technology. San Francisco-based Virta says its software “reverses” diabetes through behavioral changes that reduce the biological measures of the disease. The company’s software platform, accessible via a mobile … Continue reading “Virta Health Hauls in $45M to Expand “Diabetes-Reversing” Software”
Boston Scientific Buys Securus for $40M to Add to Heart Imaging Lineup
Medical device giant Boston Scientific has acquired Securus Medical Group, a startup with FDA-cleared technology that measures and images temperature in the body during heart rhythm procedures. Marlborough, MA-based Boston Scientific (NYSE: [[ticker:BSX]]) said Tuesday that it paid $40 million up front for the stake in Securus that it did not already own. Securus, which … Continue reading “Boston Scientific Buys Securus for $40M to Add to Heart Imaging Lineup”
Celgene Parts with COO Scott Smith “Effective Immediately”
Scott Smith, president and chief operating officer of Celgene (NASDAQ: [[ticker:CELG]]), has left the company. The Summit, NJ, drug maker gave no reason for Smith’s departure. In a press release issued after the markets closed Monday, Celgene said that Smith’s employment ended “effective immediately” and his duties will now be handled by chairman and CEO … Continue reading “Celgene Parts with COO Scott Smith “Effective Immediately””
Macrolide Pharma Raises $20M, Names Former Intarcia Exec Karande CEO
Macrolide Pharmaceuticals has a new chief executive to spearhead the company’s antibiotics development efforts, which are now backed by $20 million in fresh capital. Mahesh Karande is taking the helm of Watertown, MA-based Macrolide as president and CEO. He most recently served as vice president and general manager of Intarcia Therapeutics, based in Boston. Karande’s … Continue reading “Macrolide Pharma Raises $20M, Names Former Intarcia Exec Karande CEO”
FDA Refuses Review of Alkermes Depression Drug, Wants More Trials
An Alkermes depression drug has stalled at the FDA after the regulator concluded that the company must provide more information, including additional data from new clinical trials. Alkermes (NASDAQ: [[ticker:ALKS]]) said Monday that it has received a “refusal to file” letter for ALKS 5461, the company’s drug for treating major depressive disorder. Such letters let … Continue reading “FDA Refuses Review of Alkermes Depression Drug, Wants More Trials”
Mustang Bio Appoints Sadik Kassim CSO, Knut Niss Named CTO
Cancer immunotherapy developer Mustang Bio (NASDAQ: [[ticker:MBIO]]) has promoted Sadik Kassim to chief scientific officer. Kassim joined New York-based Mustang last year as vice president of process and analytical development. He came to Mustang from Novartis (NYSE: [[ticker:NVS]]), where he was head of analytical development. Mustang also promoted Knut Niss to chief technology officer. Niss … Continue reading “Mustang Bio Appoints Sadik Kassim CSO, Knut Niss Named CTO”
OncoMed Pharmaceuticals Promotes John Lewicki to CEO
OncoMed Pharmaceuticals (NASDAQ: [[ticker:OMED]]) is expanding the responsibilities of its president, John Lewicki, to include chief executive. Lewicki was appointed president of the Redwood City, CA, cancer drug developer in January. With his promotion to CEO, Lewicki also joins OncoMed’s board of directors. Lewicki came to OncoMed in 2004 as senior vice president of research … Continue reading “OncoMed Pharmaceuticals Promotes John Lewicki to CEO”
Bio Roundup: Biotech IPOs, Migraine Progress, Takeda Woos Shire & More
If the recent IPO activity seems to be on overdrive, it’s not your imagination. The number of companies filing to go public in the U.S. in the first quarter was up 44 percent compared to the same period a year ago, according to data compiled by consulting and accounting firm EY. Life science companies accounted … Continue reading “Bio Roundup: Biotech IPOs, Migraine Progress, Takeda Woos Shire & More”
FoodLogiQ Lands $19.5M for Food Safety and Supply Chain Software
For some time, consumers have been demanding that food companies provide more information about the origins and the safety of their food. Soon, regulators will require it. FoodLogiQ has commercialized software that provides details on food as it is harvested or processed, and moved along the supply chain. As new food safety rules loom, the … Continue reading “FoodLogiQ Lands $19.5M for Food Safety and Supply Chain Software”
Unum Therapeutics IPO Raises $69M to Test Universal Cell Therapies
Unum Therapeutics is the latest biotechnology company to take the plunge into the public markets, raising $69.2 million that it plans to use to fund more clinical tests of its experimental cancer treatments. The Cambridge, MA, company priced its initial public stock offering of 5.77 million shares at $12 each, which was on the low … Continue reading “Unum Therapeutics IPO Raises $69M to Test Universal Cell Therapies”
Tempest Therapeutics Debuts with $70M to Bring Cancer Drugs to Clinic
A number of companies are trying to improve cancer immunotherapy by disrupting the ways that tumors evade the immune system. Tempest Therapeutics is now joining that group with $70 million in financing to advance its drug pipeline. Tempest is a spinoff from a drug discovery unit supported by Versant Ventures, which co-led the Series B … Continue reading “Tempest Therapeutics Debuts with $70M to Bring Cancer Drugs to Clinic”