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.

No Data Yet, But Homology Upsizes IPO and Raises $144M

Homology Medicines, a company trying to leapfrog existing gene editing developers, has raised $144 million in an IPO that will help fund its first clinical trials. Bedford, MA-based Homology (NASDAQ: [[ticker:FIXX]]) priced its offering and sold 9 million shares at $16 apiece. Homology had planned to sell 7.6 million shares at $14 to $16 each. … Continue reading “No Data Yet, But Homology Upsizes IPO and Raises $144M”

Surface Oncology Plans IPO to Advance Clinical Tests of Cancer Drug

Cancer continues to be a big area of investor interest and Surface Oncology now aims to tap into that with an initial public stock offering that the company hopes will finance tests of its lead immuno-oncology drug. Surface set a preliminary $75 million goal for the stock offering, according to documents filed with securities regulators … Continue reading “Surface Oncology Plans IPO to Advance Clinical Tests of Cancer Drug”

Auris Health’s Surgical Robot Gets FDA Green Light for Lung Cancer

Auris Health is now the latest surgical robot company with the go-ahead to enter the U.S. market. The Redwood City, CA, based company, formerly known as Auris Surgical Robots, said Friday that its robotic system has cleared the FDA’s regulatory bar, allowing the system to be used for diagnosing and treating lung cancer tumors. The … Continue reading “Auris Health’s Surgical Robot Gets FDA Green Light for Lung Cancer”

Salim Yazji Joins PMV Pharma as Chief Medical Officer

PMV Pharmaceuticals has appointed Salim Yazji to serve as chief medical officer of the Cranbury, NJ, cancer drug developer. Yazji most recently worked at Calimmune, where he was executive vice president and chief medical officer. Yazji will be based in the Boston area, where PMV is opening a site for its clinical and regulatory operations. … Continue reading “Salim Yazji Joins PMV Pharma as Chief Medical Officer”

HepQuant Appoints Richard Whitcomb Chief Operating Officer

HepQuant has named Richard Whitcomb to serve as chief operating officer of the Greenwood Village, CO, company. Whitcomb most recently worked for Boulder, CO, company Bioptix Diagnostics, where he was president and CEO. HepQuant has developed an experimental test to evaluate the liver in patients who have chronic liver disease.

Rheos Medicines Launches, Backed by $60M for Immunometabolism R&D

Though many people understand metabolism as the process of converting food into the energy the body needs, it also plays a key role in how immune cells work. A growing body of evidence is revealing ways that adjusting metabolism at the cellular level could help immune cells treat disease. “You can get immune cells to … Continue reading “Rheos Medicines Launches, Backed by $60M for Immunometabolism R&D”

Alder BioPharma’s Schatzman Steps Down as CEO by “Mutual Decision”

[Updated 3/21/18, 8:42 a.m. EDT. See below.] Alder BioPharmaceuticals is now looking for a new chief executive, just as the company readies plans to file for FDA approval of its lead drug for migraine headaches. Randy Schatzman (pictured above, right) is out as Alder’s (NASDAQ: [[ticker:ALDR]]) CEO, the Bothell, WA, company announced Tuesday after the markets … Continue reading “Alder BioPharma’s Schatzman Steps Down as CEO by “Mutual Decision””

TwoXAR Lands $10M to Ramp Up AI-Based Drug Discovery Work

Drug discovery startup twoXAR has raised $10 million in funding to support its efforts to build a pipeline of drug candidates found by its proprietary artificial intelligence technology. SoftBank Ventures led the Series A round of financing, and was joined by the Andreessen Horowitz Bio Fund and OS Fund. Palo Alto, CA-based twoXAR has developed … Continue reading “TwoXAR Lands $10M to Ramp Up AI-Based Drug Discovery Work”

Anti-Aging Startup Unity Bio Grabs $55M, Plans First Clinical Trial

[Updated, 3/19/18, 6:32 p.m. See below.] Unity Biotechnology is trying to treat age-related diseases where it says many of them start: the production of the cellular proteins that lead to the deterioration associated with age. The startup is gearing up to test its first drug in humans and it now has $55 million to back … Continue reading “Anti-Aging Startup Unity Bio Grabs $55M, Plans First Clinical Trial”

Alzheon Files for IPO to Fund Studies of Amyloid Alzheimer’s Drug

Alzheon is turning to the public markets to finance a new round of testing for its experimental Alzheimer’s disease drug. The Framingham, MA, company set a preliminary $80 million target for its initial public stock offering. That figure is expected to change as Alzheon determines how many shares to sell and at what price. But … Continue reading “Alzheon Files for IPO to Fund Studies of Amyloid Alzheimer’s Drug”

Teva’s Aycardi Named Chief Medical Officer of Xenon Pharma

Xenon Pharmaceuticals (NASDAQ: [[ticker:XENE]]) announced that Ernesto Aycardi will become the company’s chief medical officer. Aycardi, a neurologist, comes to Burnaby, British Columbia-based Xenon from Teva Pharmaceutical (NYSE: [[ticker:TEVA]]), where he was a vice president. His experience also includes positions at EMD Serono, Biogen Idec, and Merck (NYSE: [[ticker:MRK]]). Xenon is developing treatments for neurological … Continue reading “Teva’s Aycardi Named Chief Medical Officer of Xenon Pharma”

Oxford BioTherapeutics Appoints Fandi Chief Medical Officer

Cancer drug developer Oxford BioTherapeutics (OBT) has appointed Abderrahim Fandi to serve in the newly created position of chief medical officer. Fandi comes to OBT from Celgene (NASDAQ: [[ticker:CELG]]). His experience also includes positions at Novartis (NYSE: [[ticker:NVS]]), Bristol-Myers Squibb (NYSE: [[ticker:BMY]]), and AstraZeneca (NYSE: [[ticker:AZN]]). U.K.-based Oxford Bio, which maintains U.S. operations in San … Continue reading “Oxford BioTherapeutics Appoints Fandi Chief Medical Officer”

Bio Roundup: DIY Biohacking, PCSK9 Data, Solid Setback & More

Drug prices are top of mind for many patients. Some of them have to cut back on basic needs just to pay for treatments that seem to rise in price each year. That made a recent announcement by Regeneron Pharmaceuticals particularly unusual. The Tarrytown, NY, drugmaker plans to cut the price of its cholesterol-lowering drug … Continue reading “Bio Roundup: DIY Biohacking, PCSK9 Data, Solid Setback & More”

Julie Hambleton Named Ideaya Biosciences Chief Medical Officer

Cancer drug developer Ideaya Biosciences has appointed Julie Hambleton to serve as senior vice president and chief medical officer, head of development. Hambleton most recently worked at Bristol-Myers Squibb (NYSE: [[ticker:BMY]]) where she was a vice president and head of the company’s U.S. medical operations. Her experience also includes executive posts at Five Prime Therapeutics … Continue reading “Julie Hambleton Named Ideaya Biosciences Chief Medical Officer”

Anika Therapeutics’ Sherwood Retires as CEO, Darling Named Successor

Charles Sherwood, CEO of Anika Therapeutics (NASDAQ: [[ticker:ANIK]]), is retiring from the company and its board of directors after nearly 20 years. Joseph Darling, Anika’s president, will succeed Sherwood as CEO of the Bedford, MA company. Darling, who came to Anika last July, will also join the company’s board of directors. Anika develops and markets … Continue reading “Anika Therapeutics’ Sherwood Retires as CEO, Darling Named Successor”

Arcus Bio Pulls Off IPO, Raises $120M for Cancer Immunotherapies

Arcus Biosciences has raised $120 million from an initial public offering as the cancer immunotherapy developer looks ahead to reporting its first clinical data for its two lead drugs later this year. Hayward, CA-based Arcus priced its offering of 8 million shares at $15 apiece, at the high end of the $13 to $15 per … Continue reading “Arcus Bio Pulls Off IPO, Raises $120M for Cancer Immunotherapies”

BioMarin’s Wolfgang Dummer Named Aridis Chief Medical Officer

Aridis Pharmaceuticals has appointed Wolfgang Dummer to serve as chief medical officer. Before joining the San Jose, CA, company, Dummer was vice president of clinical development at BioMarin Pharmaceutical (NASDAQ: [[ticker:BMRN]]) in Novato, CA. His experience also includes positions at Genentech and the Scripps Research Institute. Aridis develops antibody drugs to treat infectious diseases.

DTN Set to Acquire Spensa, Continuing Trend of Farm Software Deals

Spensa Technologies, a startup that has developed sensors, software, and other products that give farmers insights about their operations, is now set to become part of global digital services company DTN. Minneapolis-based DTN announced Tuesday that it has agreed to acquire Spensa, a Purdue University spinout that operates from West Lafayette, IN. The companies disclosed … Continue reading “DTN Set to Acquire Spensa, Continuing Trend of Farm Software Deals”

Goldfinch Bio Names Peter Mundel Chief Scientific Officer

Goldfinch Bio has appointed Peter Mundel to serve as chief scientific officer of the Cambridge, MA, kidney disease drug developer. Mundel, a nephrologist, comes to Goldfinch from Massachusetts General Hospital and Harvard Medical School, where his research focused on developing treatments for kidney diseases. He was also a consultant to Third Rock Ventures, the venture … Continue reading “Goldfinch Bio Names Peter Mundel Chief Scientific Officer”

Innovate Biopharmaceuticals Picks June Almenoff for COO, CMO

June Almenoff has been appointed chief operating officer and chief medical officer of Innovate Biopharmaceuticals (NASDAQ: [[ticker:INNT]]). Almenoff’s experience includes serving as chief medical officer of Furiex Pharmaceuticals, as well as various positions at GlaxoSmithKline (NYSE: [[ticker:GSK]]). Raleigh, NC-based Innovate’s lead drug, larazotide acetate, is being prepared to start Phase 3 studies testing it as … Continue reading “Innovate Biopharmaceuticals Picks June Almenoff for COO, CMO”

Gilead CSO Bischofberger to Step Down, McHutchison Named Successor

Norbert Bischofberger, executive vice president of research and development and chief scientific officer of Gilead Sciences (NASDAQ: [[ticker:GILD]]), is stepping down after nearly 30 years with the company. Foster City, CA-based Gilead says Bischofberger will leave his position at the end of April but remain with the company through July. John McHutchison, who is currently … Continue reading “Gilead CSO Bischofberger to Step Down, McHutchison Named Successor”

Former Otonomy CSO LeBel Joins Frequency Therapeutics as Executive VP

Frequency Therapeutics has appointed Carl LeBel to serve as executive vice president of clinical development of the Woburn, MA, company. LeBel most recently worked for San Diego-based ear medicines company Otonomy, where he was chief scientific officer from 2009 through 2016. Frequency’s lead drug for hearing loss, FX-322, is expected to begin Phase 2 studies … Continue reading “Former Otonomy CSO LeBel Joins Frequency Therapeutics as Executive VP”

Biogen to Acquire Phase 2-Ready Schizophenia Drug from Pfizer

Biogen is entering neuropsychiatry drug development with a deal to acquire a schizophrenia drug candidate from Pfizer. Cambridge, MA-based Biogen (NASDAQ: [[ticker:BIIB]]) is paying Pfizer $75 million up front for the drug, PF-04958242. Pfizer (NYSE: [[ticker:PFE]]) stands to gain as much as $515 million more if the drug hits development and commercialization milestones. If Biogen … Continue reading “Biogen to Acquire Phase 2-Ready Schizophenia Drug from Pfizer”

“Pharma Bro” Martin Shkreli Gets Seven Years for Securities Fraud

Outspoken former pharmaceutical executive Martin Shkreli will serve seven years in prison, a sentence handed down Friday following securities fraud convictions related to two hedge funds and a drug company that he once ran. The judge in the case said Shkreli will receive credit for time served since September, when his bail was revoked, Bloomberg … Continue reading ““Pharma Bro” Martin Shkreli Gets Seven Years for Securities Fraud”

Rosana Kapeller Leaves Nimbus, Seeks “Executive Leadership Role”

Rosana Kapeller has resigned her position as chief scientific officer of Cambridge, MA, biotech company Nimbus Therapeutics. The company said in a news release that she is leaving to “explore an executive leadership role.” Kapeller was one of the founders of Nimbus, which was initially called Nimbus Discovery to reflect its focus on computer-aided drug … Continue reading “Rosana Kapeller Leaves Nimbus, Seeks “Executive Leadership Role””

AbbVie’s Steve England Joins 3Scan as Chief Science Officer

3Scan has appointed Steve England to serve as the San Francisco company’s chief science officer. England most recently worked at AbbVie (NYSE: [[ticker:ABBV]]), where he led a team focused on therapy development and emerging technology. His experience also includes drug discovery positions at AstraZeneca (NYSE: [[ticker:AZN]]) and Pfizer (NYSE: [[ticker:PFE]]). 3Scan uses automation, machine learning, … Continue reading “AbbVie’s Steve England Joins 3Scan as Chief Science Officer”

Cyteir Bags $29M to Tap “Self Destruct” in Cancers, Immune Diseases

The rapid growth of cancer cells actually damages them, leading them to rely on internal repair mechanisms. Scientists are finding ways to disrupt these repair features to fight the disease, and their research is leading to a growing crop of startups. Among them: Cambridge, MA-based Cyteir Therapeutics, which has just raised $29 million from Venrock, … Continue reading “Cyteir Bags $29M to Tap “Self Destruct” in Cancers, Immune Diseases”

Adicet Bio Founder and CEO Aya Jakobovits Retires

Aya Jakobovits, president and CEO of Adicet Bio, has retired. Jakobovits had led the Menlo Park, CA immunotherapy developer since she founded it in 2014. Adicet says Jakobovits will remain on the company’s board of directors and will continue to serve as an advisor. Donald Santel, Adicet’s executive chairman, will be the company’s interim CEO. … Continue reading “Adicet Bio Founder and CEO Aya Jakobovits Retires”

Unum, Homology Plan IPOs, as Unum Reveals Two Patient Deaths

Two Boston-area biotech startups are shrugging off the recent stock market volatility as they press forward with plans for initial public stock offerings. Genetic therapies company Homology Medicines and cell therapy developer Unum Therapeutics each filed IPO paperwork with regulators late Friday. Unum’s filing revealed that two patients died in a Phase 1 trial late … Continue reading “Unum, Homology Plan IPOs, as Unum Reveals Two Patient Deaths”

Vividion Lands $101M from Celgene to Develop Protein-Targeting Drugs

Vividion Therapeutics is partnering with Celgene to develop new drugs that modulate protein levels as a way of treating disease. Celgene (NASDAQ: [[ticker:CELG]]) will pay San Diego-based Vividion $101 million up front, which includes an equity investment. The partnership will last four years, but Celgene, based in Summit, NJ, has the option to pay more … Continue reading “Vividion Lands $101M from Celgene to Develop Protein-Targeting Drugs”

Duke and Enzyvant Take Rare Immune Disease to School with New Therapy

A healthy baby enters the world with the cells it needs to build immunity. But in some cases, the cell levels are dangerously low. Rarer still are those born without the organ needed to properly develop these immune cells. For babies who have this condition, called complete DiGeorge anomaly, even the common cold can become … Continue reading “Duke and Enzyvant Take Rare Immune Disease to School with New Therapy”

Nkarta Therapeutics Picks Paul Hastings for CEO

Paul Hastings has been named CEO of South San Francisco, CA-based Nkarta Therapeutics. Hastings most recently worked for Redwood City, CA, cancer drug developer OncoMed Pharmaceuticals (NASDAQ: [[ticker:OMED]]), where he was chairman and CEO. Hastings resigned from OncoMed on Jan. 1. Nkarta is developing cancer treatments based on natural killer (NK) immune cells.

Teva’s Marcelo Bigal Joins Purdue Pharma as Chief Medical Officer

Purdue Pharma has appointed Marcelo Bigal to serve as the Stamford, CT-based company’s chief medical officer. Bigal comes to Purdue from Teva Pharmaceutical (NYSE: [[ticker:TEVA]]), where he was chief scientific officer. Before joining Teva, Bigal was chief medical officer of Labrys Biologics, which Teva acquired in 2014 in order to add the company’s migraine drug … Continue reading “Teva’s Marcelo Bigal Joins Purdue Pharma as Chief Medical Officer”

Arcturus Fails to Ratify Auditor in Latest Fallout After CEO Firing

The schism between Arcturus Therapeutics’ board and its former chief executive is now putting the company at risk of missing key financial reporting deadlines, and possibly even losing its stock listing. The San Diego drug developer said late Monday that the typically routine step of ratifying the company’s auditor failed a shareholder vote. Arcturus (NASDAQ: … Continue reading “Arcturus Fails to Ratify Auditor in Latest Fallout After CEO Firing”

FDA Refuses to Review Celgene’s MS Drug, Says File “Insufficient”

Celgene’s bid to bring a potential blockbuster multiple sclerosis drug to the market was dealt a setback Tuesday after the FDA concluded the company’s application does not have enough information. Summit, NJ-based Celgene (NASDAQ: [[ticker:CELG]]) said that it has received a “refusal to file” letter from the regulator regarding its submission for ozanimod. The company … Continue reading “FDA Refuses to Review Celgene’s MS Drug, Says File “Insufficient””

Synthetic Bio Startup Senti Raises $53M to Program Cells to Treat Disease

Getting software to perform a new task is a matter of rewriting its code. This approach can also apply to biology, according to Tim Lu, CEO of Senti Biosciences. Tweaking a cell’s genetic code can give it therapeutic capabilities that adjust to the severity of a disease and also limit the treatment’s side effects. “This … Continue reading “Synthetic Bio Startup Senti Raises $53M to Program Cells to Treat Disease”

Vertex Pharma CMO Chodakewitz Retires, Kewalramani Named Successor

Jeffrey Chodakewitz, chief medical officer of Vertex Pharmaceuticals (NASDAQ: [[ticker:VRTX]]), is retiring. The Boston company said he will continue in an advisory role through early next year. Chodakewitz joined Vertex in 2014 as senior vice president. Reshma Kewalramani will step up as Chodakewitz’s successor effective April 1. Kewalramani joined Vertex in 2017 as senior vice … Continue reading “Vertex Pharma CMO Chodakewitz Retires, Kewalramani Named Successor”

Eli Lilly’s Colleen Mockbee Joins Partner Tx as Chief Development Officer

Partner Therapeutics has appointed Colleen Mockbee to serve as chief development officer. Mockbee comes to Boston-based Partner from Eli Lilly (NYSE: [[ticker:LLY]]), where she spent 20 years working in various drug development positions. Partner emerged from stealth in early February with $60 million in funding and an immune system-boosting drug it acquired from Sanofi (NYSE: … Continue reading “Eli Lilly’s Colleen Mockbee Joins Partner Tx as Chief Development Officer”

Bio Roundup: Meldonium Slip, Kratom Crackdown, Zinc Fingers & More

The 2018 Winter Olympics will end soon, and we did not skate through these games without a performance-enhancing drug allegation rearing its ugly head. This time, the drug in question was meldonium (Mildronate), a product widely available over the counter in Russia and some Eastern European countries. Though Latvian pharmaceutical company Grindeks markets meldonium for … Continue reading “Bio Roundup: Meldonium Slip, Kratom Crackdown, Zinc Fingers & More”

Pfizer’s John Davis Named Magenta Therapeutics Chief Medical Officer

Magenta Therapeutics has recruited Pfizer (NYSE: [[ticker:PFE]]) executive John Davis to serve as the startup’s new chief medical officer. Before coming to Cambridge, MA-based Magenta, Davis was Pfizer’s senior vice president and head of early clinical development. His experience also includes positions at Baxalta and Genentech. Magenta is developing treatments for bone marrow transplant patients … Continue reading “Pfizer’s John Davis Named Magenta Therapeutics Chief Medical Officer”

ImmunoMet Therapeutics Appoints Vincent O’Neill Chief Medical Officer

Vincent O’Neill has been named chief medical officer of cancer drug developer ImmunoMet Therapeutics. O’Neill, a medical oncologist, most recently worked at Mirna Therapeutics where he was chief medical officer. His experience also includes positions at Genentech, Roche, GlaxoSmithKline (NYSE: [[ticker:GSK]]), Sanofi (NYSE: [[ticker:SNY]]), and Exosome Diagnostics. In a separate executive move, ImmunoMet appointed Allan … Continue reading “ImmunoMet Therapeutics Appoints Vincent O’Neill Chief Medical Officer”

Aimmune’s Peanut Allergy Drug Hits Study Goals, FDA Filing Planned

Peanuts rank among the top foods that spark allergic reactions, prompting schools to ban peanut butter sandwiches and travelers to decline airline snacks. Aimmune Therapeutics aims to help with a drug that makes people less sensitive to peanuts. On Tuesday, Aimmune (NASDAQ: [[ticker:AIMT]]) announced that its drug met the main goals of a late-stage study, … Continue reading “Aimmune’s Peanut Allergy Drug Hits Study Goals, FDA Filing Planned”

Surface Oncology Promotes Goater to CEO, Lynch Remains Chairman

Jeff Goater, chief business officer of Surface Oncology, has been appointed CEO of the company. Goater replaces interim CEO Dan Lynch, who will remain executive chairman of the Cambridge, MA, company’s board of directors. Goater joined Surface a year ago after serving as CFO of Voyager Therapeutics (NASDAQ: [[ticker:VYGR]]) in Cambridge. Surface, which is developing … Continue reading “Surface Oncology Promotes Goater to CEO, Lynch Remains Chairman”

Chrono CEO Alan Levy Retires, David Happel Named New Chief Executive

Alan Levy, CEO and chairman of Chrono Therapeutics, is retiring. The Hayward, CA, company said Levy will remain on the board of directors. David Happel has been appointed CEO, and current board member James Young will take on the role of board chairman. Happel comes to Chrono from Horizon Pharma (NASDAQ: [[ticker:HZNP]]), where he was … Continue reading “Chrono CEO Alan Levy Retires, David Happel Named New Chief Executive”

Roche to Acquire Cancer Software Startup Flatiron Health for $1.9B

Roche has agreed to acquire Flatiron Health for $1.9 billion, a deal that brings the cancer research capabilities of Flatiron to the oncology drug portfolio and pipeline of the pharmaceutical giant. Roche already owns a 12.6 percent stake in Flatiron. The Basel, Switzerland company expects to complete the acquisition of the remaining Flatiron shares in … Continue reading “Roche to Acquire Cancer Software Startup Flatiron Health for $1.9B”

Celularity Raises $250M to Make Stem Cell Treatments for Cancer & More

The placenta provides a fetus all of the nourishment it needs to grow and remain healthy. Executives at biotech startup Celularity believe cells from this organ can also be developed into treatments for a wide range of diseases, and the company announced Thursday that it has $250 million in funding to move its plans forward. … Continue reading “Celularity Raises $250M to Make Stem Cell Treatments for Cancer & More”

Syngenta Acquires Farmshots to Give Farmers Birds-Eye View of Fields

Syngenta is adding satellite imagery to the high-tech features it can offer farmers. The agribusiness giant has acquired FarmShots, a Raleigh, NC, startup that has commercialized software that analyzes satellite and drone images to give farmers a view of field conditions. No financial terms of the deal were disclosed. FarmShots turns satellite data of crops … Continue reading “Syngenta Acquires Farmshots to Give Farmers Birds-Eye View of Fields”

FDA OKs Banyan Diagnostic, the First Blood Test for Concussions

The FDA has approved the first blood test to help diagnose concussions, clearing a path to the market for a diagnostic that could reduce the use of expensive brain imaging technologies that expose patients to radiation. The approval goes to San Diego diagnostics developer Banyan Biomarkers. The company’s test, called Banyan BTI (short for brain … Continue reading “FDA OKs Banyan Diagnostic, the First Blood Test for Concussions”