Neurological conditions such as Alzheimer’s disease have stymied the efforts of many pharmaceutical companies to develop treatments that stem the decline in brain function. E-Scape Bio is taking a different tack with drugs that it says could address the root cause of degenerative brain disorders. E-Scape’s approach has caught the eye of investors who have … Continue reading “E-Scape Unveils $63M for Alzheimer’s, Parkinson’s Drug Research”
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.
Sanofi Shores Up Flu Vaccine Business With Protein Sciences Deal
With influenza season a few months away, Sanofi is giving its vaccine operations a shot in the arm by acquiring Protein Sciences, a company that has a commercial vaccine, Flublok, and manufactures it using genetic engineering and cell culture instead of the traditional method that relies on millions of chicken eggs. According to the companies, … Continue reading “Sanofi Shores Up Flu Vaccine Business With Protein Sciences Deal”
Evelo Bio Raises $50M Round to Bring Microbiome Drugs Into Trials
Bacteria have evolved with humans over many thousands of years, forming a delicate balance in the body that researchers are just now starting to understand. Evelo Biosciences believes it can tap into the workings of the human microbiome to treat immune disorders and cancer and it now has raised $50 million in financing to test … Continue reading “Evelo Bio Raises $50M Round to Bring Microbiome Drugs Into Trials”
InVivo Therapeutics Names Richard Toselli Chief Medical Officer
InVivo Therapeutics has appointed Richard Toselli chief medical officer of the Cambridge, MA, biotech. Toselli, a spinal neurosurgeon, previously served as chief medical officer for Australia-based Cochlear Limited. His experience also includes posts at Sanofi (NYSE: [[ticker:SNY]]), Covidien, DePuy, and Johnson & Johnson (NYSE: [[ticker:JNJ]]). InVivo is developing treatments for spinal cord injuries.
Shire’s David Thompson Joins Precision BioSciences C-Suite
Precision Biosciences has appointed David Thompson to the new position of chief development officer. Thompson comes to Durham, NC-based Precision from Shire (NASDAQ: [[ticker:SHPG]]), where he was senior vice president and global head of research and nonclinical development. In his new role, Thompson will oversee Precision’s preclinical strategy for gene therapies and cell therapies based … Continue reading “Shire’s David Thompson Joins Precision BioSciences C-Suite”
Inotek Considers “Strategic Options” After Glaucoma Trial Failure
An Inotek Pharmaceuticals drug developed to treat glaucoma failed to beat a current treatment for the eye condition in a clinical trial, a second setback this year that puts the future of both the drug and the company in question. Lexington, MA-based Inotek (NASDAQ: [[ticker:ITEK]]) released the early results from the Phase 2 clinical trial … Continue reading “Inotek Considers “Strategic Options” After Glaucoma Trial Failure”
O’Connor Resigns From Advaxis, Lombardo Named Interim CEO
Daniel O’Connor has resigned from his positions as CEO, president, and board member of Princeton, NJ-based Advaxis (NASDAQ: [[ticker:ADXS]]). No reason for O’Connor’s resignation was given in a company news release or documents filed with securities regulators. O’Connor had served as CEO of Advaxis, a cancer immunotherapy developer, since 2013. Advaxis chief business officer Anthony … Continue reading “O’Connor Resigns From Advaxis, Lombardo Named Interim CEO”
CRISPR Biotech Caribou Biosciences Adds Steven Kanner to Exec Team
Caribou Biosciences has brought on Steven Kanner as the Berkeley, CA, biotech’s new chief scientific officer. Caribou develops applications for the CRISPR-Cas gene editing technology. Kanner joins Caribou from Pasadena, CA-based Arrowhead Pharmaceuticals (NASDAQ: [[ticker:ARWR]]), where he was vice president of discovery biology. His experience also includes positions at Bristol-Myers Squibb (NYSE: [[ticker:BMY]]), Astex Pharmaceuticals … Continue reading “CRISPR Biotech Caribou Biosciences Adds Steven Kanner to Exec Team”
Bio Roundup: BCRA Fireworks, Shkreli Muzzled, Endo Pulls Drug & More
The Fourth of July was this week, but members of Congress didn’t need to crane their necks skyward to see fireworks. Senators returned to their districts, where local news offered blistering headlines about the potential impact of the Republican plan to replace the Affordable Care Act. Independence Day typically lets lawmakers mingle with constituents at … Continue reading “Bio Roundup: BCRA Fireworks, Shkreli Muzzled, Endo Pulls Drug & More”
Eli Lilly Pledges $52M to Life Sciences Partnership with Purdue
Injectable medications rank among Eli Lilly’s top-selling products. The Indianapolis drug giant is now scouting for new innovations in injectable medicine and it hopes to find them in its backyard. Lilly (NYSE: [[ticker:LLY]]) announced Thursday that it is committing $52 million to a five-year research collaboration with Purdue University. Lilly says it wants to improve … Continue reading “Eli Lilly Pledges $52M to Life Sciences Partnership with Purdue”
Celgene Builds Up Cancer Drug Pipeline With BeiGene Deal
Celgene wants a shot at a bigger slice of the global cancer drug market, and the company is turning to China to do it. Summit, NJ-based Celgene has reached a deal with BeiGene, based in Beijing, for rights to a cancer immunotherapy still in clinical trials. The deal announced late Wednesday calls for Celgene (NASDAQ: … Continue reading “Celgene Builds Up Cancer Drug Pipeline With BeiGene Deal”
FDA Halts Merck’s Multiple Myeloma Trials After Patient Deaths
Nearly a month after Merck paused enrollment in three clinical trials in multiple myeloma to gather more information about patient deaths, the FDA has now put a stop to those studies altogether. Merck (NYSE: [[ticker:MRK]]) said Wednesday that the FDA has placed a complete hold on two Phase 3 trials testing its immunotherapy drug pembrolizumab … Continue reading “FDA Halts Merck’s Multiple Myeloma Trials After Patient Deaths”
Adicet Bio Appoints Jesse McGreivy Chief Medical Officer
Jesse McGreivy is joining Adicet Bio to become the Menlo Park, CA, company’s chief medical officer. McGreivy most recently served as chief medical officer at Redwood City, CA, cancer drug developer Acerta Pharma. His experience also includes posts at Pharmacyclics (NASDAQ: [[ticker:PCYC]]) and Amgen (NASDAQ: [[ticker:AMGN]]). Adicet is developing immunotherapies for cancer and other diseases.
BlueRock Therapeutics Appoints Emile Nuwaysir President and CEO
Emile Nuwaysir has been named president and CEO of BlueRock Therapeutics. BlueRock, which spreads its operations across sites in Boston, New York, and Toronto, is developing a way to repair heart muscle by using stem cells. Nuwaysir was previously president and chief operating officer of Cellular Dynamics International, where his responsibilities included managing the company’s … Continue reading “BlueRock Therapeutics Appoints Emile Nuwaysir President and CEO”
Side Effect Weighs on Early Results for Alkermes’ Schizophrenia Drug
The early results are in for a Phase 3 clinical trial testing Alkermes’ schizophrenia drug, and the company’s drug worked just as well as a medication already used to treat the psychiatric condition. But so far, it hasn’t distinguished itself on the side effect profile. Weight gain is a common side effect of psychiatric medications, … Continue reading “Side Effect Weighs on Early Results for Alkermes’ Schizophrenia Drug”
Atlas Venture Unveils New $350M Fund for Seed Biotech Investments
Life sciences venture capital firm Atlas Venture now has $350 million in fresh capital to invest in the early stage biotech companies in the U.S. and around the world. The new fund is Cambridge, MA-based Atlas’ eleventh. Atlas partner Bruce Booth says in a blog post that the firm began raising funds in April, bringing … Continue reading “Atlas Venture Unveils New $350M Fund for Seed Biotech Investments”
Dragonfly Tx Names Nicolai Wagtmann Chief Scientific Officer
Nicolai Wagtmann is joining Dragonfly Therapeutics to become the Cambridge, MA, biotech’s chief scientific officer. Wagtmann comes to Dragonfly from France-based Innate Pharma, where he was executive vice president and chief scientific officer. Before working at Innate, Wagtmann was vice president and head of cancer and immunobiology at Novo Nordisk. Earlier this month, Celgene (NASDAQ: … Continue reading “Dragonfly Tx Names Nicolai Wagtmann Chief Scientific Officer”
Regenacy Promotes Simon Jones to CEO, Walter Ogier Stays on Board
Regenacy Pharmaceuticals has promoted Simon Jones to president and CEO of the clinical-stage drug developer. Jones had served as chief operating officer and senior vice president of preclinical development since the Boston company spun out of Acetylon Pharmaceuticals last year in a deal that gives Celgene (NASDAQ: [[ticker:CELG]]) partial rights to two drugs. Before Regenacy, … Continue reading “Regenacy Promotes Simon Jones to CEO, Walter Ogier Stays on Board”
LogicBio Lands $45M for Gene Therapies in Rare Pediatric Diseases
Gene therapy offers the potential for a long-lasting, if not permanent, treatment for an inherited disease, but cells that divide rapidly, such as those in the liver, present a thorny problem. Because of how they insert themselves in the cells, some forms of gene therapy get “diluted” as the cells divide. It’s a particular problem … Continue reading “LogicBio Lands $45M for Gene Therapies in Rare Pediatric Diseases”
Vivace Therapeutics Comes Out of Stealth With $25M for Cancer Drugs
Vivace Therapeutics, a San Mateo, CA-based biotech that has kept quiet about its research until now, has reached across the Pacific Ocean to close $25 million in financing to support its work developing drugs to target two different mechanisms of cancer biology. New investor Cenova Capital, based in China, led the Series B round of … Continue reading “Vivace Therapeutics Comes Out of Stealth With $25M for Cancer Drugs”
Alder Drug Cuts Down Migraines in Study, But Still Trails Rivals
Alder BioPharmaceutical’s migraine drug successfully reduced the frequency of headaches in a key clinical trial, early results that the biotech says lay the groundwork for its plans to file for FDA approval next year. Bothell, WA-based Alder (NASDAQ: [[ticker:ALDR]]) has been studying its drug eptinezumab in patients who have episodic migraine, defined as experiencing between … Continue reading “Alder Drug Cuts Down Migraines in Study, But Still Trails Rivals”
Genentech’s Hemophilia Drug Slashes Bleeding Rates, Early Data Show
While a host of companies are racing to treat hemophilia with cutting-edge gene therapies, others are working on nearer-term improvements to more conventional approaches, with billion-dollar franchises at stake. Genentech hopes to enter the hemophilia fray and announced Monday that its experimental drug emicizumab reduced bleeding by 87 percent, according to preliminary Phase 3 data. … Continue reading “Genentech’s Hemophilia Drug Slashes Bleeding Rates, Early Data Show”
Portola Pharmaceuticals’ Drug to Prevent Blood Clots Wins FDA Nod
[Updated, 6/23/17, 6:23 pm, see below.] A Portola Pharmaceuticals drug developed to prevent risky and potentially fatal blood clots in patients who are hospitalized for an extended period of time received FDA approval on Friday. The FDA approved the Portola (NASDAQ: [[ticker:PTLA]]) drug betrixaban (Bevyxxa) for patients hospitalized for conditions such as heart failure, stroke, … Continue reading “Portola Pharmaceuticals’ Drug to Prevent Blood Clots Wins FDA Nod”
Purdue Pharma’s Mark Timney Leaving, Craig Landau Named CEO
Purdue Pharma announced that CEO Mark Timney is leaving “to pursue other career opportunities” and another executive within the Stamford, CT-based drug company is taking his place. Craig Landau, a 14-year Purdue veteran, is now CEO. Landau had held several executive and senior management roles in the company, including serving as chief medical officer. In … Continue reading “Purdue Pharma’s Mark Timney Leaving, Craig Landau Named CEO”
Five Prime’s Williams to Transition from CEO to Executive Chairman
Five Prime Therapeutics (NASDAQ: [[ticker:FPRX]]) announced that founder Lewis “Rusty” Williams plans to transition from CEO to executive chairman next year. Williams founded South San Francisco, CA-based Five Prime in 2001 and then shifted from CEO to executive chairman in 2003. He returned as CEO in 2011. Five Prime, which is developing drugs to treat … Continue reading “Five Prime’s Williams to Transition from CEO to Executive Chairman”
Syntimmune Snares $50M to Test Autoimmune Drug in Two Rare Diseases
Although antibodies play a key role in neutralizing invading bacteria and viruses, sometimes these protective proteins can turn against the body’s own tissues, sparking an autoimmune disorder. Syntimmune’s leaders believe their company has found a way to block the immune system’s attack on the body. And now the biotech has $50 million to advance its … Continue reading “Syntimmune Snares $50M to Test Autoimmune Drug in Two Rare Diseases”
Rubius Adds $120M to Ready Tests of Red Blood Cells as Drug Carriers
[Updated 6/21/17, 4:05 pm. See below.] The main role of red blood cells is to carry life-sustaining oxygen throughout the body. Rubius Therapeutics believes these cells can carry something more: therapeutic payloads delivered directly to the organs and tissues of patients with severe diseases. Less than two years after launch, Cambridge, MA-based Rubius has reeled … Continue reading “Rubius Adds $120M to Ready Tests of Red Blood Cells as Drug Carriers”
SeaGen Ends One Leukemia Drug Trial, Stops Enrolling Three Others
Seattle Genetics is ending a Phase 3 clinical trial of its leukemia drug after a review showed more deaths in patients treated with the drug compared to the control group, the company announced this morning. Bothell, WA-based Seattle Genetics (NASDAQ: [[ticker:SGEN]]) says the decision to end the trial follows a discussion with the independent data … Continue reading “SeaGen Ends One Leukemia Drug Trial, Stops Enrolling Three Others”
Axcella Names Tony Tramontin Chief Scientific Officer
Tony Tramontin is joining Axcella to become the Cambridge, MA, biotech’s chief scienfitic officer and senior vice president of research and development. Tramontin comes to Axcella from the McKinsey & Company, where he was a partner in the consulting companys global healthcare practice. Before McKinsey, he was an experimental neuroscientists at The Rockefeller University and … Continue reading “Axcella Names Tony Tramontin Chief Scientific Officer”
Regulus Promotes Mark Deeg to Chief Medical Officer
Mark Deeg has been promoted to chief medical officer of Regulus Therapeutics (NASDAQ: [[ticker:RGLS]]), a San Diego-based biotech. Deeg joined Regulus in April as vice president of translational medicine. Before starting at Regulus, he was chief medical officer of The Chorus Group, an autonomous early drug development unit of Eli Lilly (NYSE: [[ticker:LLY]]). Deeg’s promotion … Continue reading “Regulus Promotes Mark Deeg to Chief Medical Officer”
Checkmate Pharma Clinches $27M for More Studies in Skin Cancer
Checkmate Pharmaceuticals believes its approach to cancer treatment can make a certain type of immunotherapy work better, and it now has $27 million in additional funding to help build that case. F-Prime Capital Partners, a new investor, led the Series B round of investment announced Thursday. Sofinnova Partners and venBio, who had invested in Cambridge, … Continue reading “Checkmate Pharma Clinches $27M for More Studies in Skin Cancer”
Athenex IPO Raises $66M to Fund Clinical Trials for Cancer Drugs
The IPO window is still open for clinical-stage drug companies, and Athenex is now the latest one to pass through it. The cancer drug developer raised $66 million through a public stock offering on Wednesday, funding that the company will devote mostly to a pair of cancer drugs in late-stage clinical development. Athenex priced its … Continue reading “Athenex IPO Raises $66M to Fund Clinical Trials for Cancer Drugs”
Bowery Picks Up $20M to Expand Indoor Farming in the U.S. and Beyond
Indoor farming is catching on in more urban areas, giving city dwellers more choices for locally grown produce. Agtech startup Bowery aims to make its leafy greens part of that retail mix, and it has raised $20 million in new funding to support its expansion. General Catalyst and GGV Capital co-led the Series A round, … Continue reading “Bowery Picks Up $20M to Expand Indoor Farming in the U.S. and Beyond”
Biogen CFO Paul Clancy to Take Executive Post at Alexion Pharma
Paul Clancy, CFO of Biogen (NASDAQ: [[ticker:BIIB]]) for the last 10 years, is moving to Alexion Pharmaceuticals (NASDAQ: [[ticker:ALXN]]) to become the top financial executive of the New Haven, CT, drug developer. Before joining Cambridge, MA-based Biogen, Clancy held various executive positions at PepsiCo (NYSE: [[ticker:PEP]]). Alexion says Clancy will start at the company on … Continue reading “Biogen CFO Paul Clancy to Take Executive Post at Alexion Pharma”
AquaBounty Lines Up First U.S. Fish Farm With Deal for Indiana Site
[Corrected, 6/16/17, 12:03 pm. See below.] When salmon from AquaBounty Technologies reach grocery stores and restaurants, some of them will come from America’s heartland. AquaBounty (NASDAQ: [[ticker:AQB]]) has agreed to pay $14 million in cash to acquire some of the assets of Bell Fish Company, including that company’s fish farm in Albany, IN. The deal … Continue reading “AquaBounty Lines Up First U.S. Fish Farm With Deal for Indiana Site”
Former Ariad Exec Santillana to Join Merrimack Pharmaceuticals
Sergio Santillana will become the next chief medical officer of Merrimack Pharmaceuticals (NASDAQ: [[ticker:MACK]]). Cambridge, MA-based Merrimack said that Santillana will start on June 12. Santillana most recently served as chief medical officer of Ariad Pharmaceuticals, a Cambridge company that was acquired by Japan-based Takeda Pharmaceutical earlier this year. His experience also includes posts at … Continue reading “Former Ariad Exec Santillana to Join Merrimack Pharmaceuticals”
AstraZeneca’s Zelenkofske Joins UniQure as Chief Medical Officer
Steven Zelenkofske is joining uniQure to become the company’s chief medical officer. He succeeds Christian Meyer, who had served as uniQure’s chief medical officer since 2013. Zelenkofske will be based in the Lexington, MA, offices of Netherlands-based uniQure. Zelenkofske was most recently an executive overseeing cardiovascular and metabolism therapeutics for AstraZeneca (NYSE: [[ticker:AZN]]). His experience … Continue reading “AstraZeneca’s Zelenkofske Joins UniQure as Chief Medical Officer”
Eli Lilly Fronts $55M for Rights to KeyBioscience’s Diabetes Drugs
With competition threatening to chip away at its diabetes stronghold, Eli Lilly is shoring up its pipeline with a deal that gives the company access to a potential new class of diabetes drugs. Indianapolis-based Lilly (NYSE: [[ticker:LLY]]) has agreed to pay $55 million up front to KeyBioscience in exchange for rights to compounds in various … Continue reading “Eli Lilly Fronts $55M for Rights to KeyBioscience’s Diabetes Drugs”
Harvard Biotech Spinout Lands $10M to Make Platelets From Stem Cells
If you’ve donated blood, you probably received a follow-up message asking you to consider a platelet donation. Donation centers must constantly replenish their blood supplies, but the need for platelets is particularly acute. Compared to other components of blood, platelets are fragile and short lived, which puts high demand on the small supply of these … Continue reading “Harvard Biotech Spinout Lands $10M to Make Platelets From Stem Cells”
Lung Therapeutics Breathes In $14M Investment for Respiratory Drugs
Austin—Lung Therapeutics has closed a $14.3 million round of investment that the Austin, TX-based company will use to continue a clinical trial testing its lead drug, a treatment for potentially lethal complications of pneumonia. Bios Partners, a Fort Worth, TX-based private equity firm, led the Series B round of investment. Earlier investor UT Horizon Fund … Continue reading “Lung Therapeutics Breathes In $14M Investment for Respiratory Drugs”
Facing Cash Crunch, Novan Slashes Staff and Shuffles Executive Team
Novan is laying off 20 percent of its workforce, the company announced today, as it retrenches following the late-stage clinical trial failure of its experimental acne drug earlier this year. The skin drugs developer says it is still committed to its acne drug SB204. But Durham, NC-based Novan (NASDAQ: [[ticker:NOVN]]) adds that layoffs throughout the … Continue reading “Facing Cash Crunch, Novan Slashes Staff and Shuffles Executive Team”
Paul Grint Is In, Scott Salka Out as CEO of AmpliPhi Biosciences
Paul Grint has been appointed CEO of AmpliPhi Biosciences (NYSE MKT: [[ticker:APHB]]). He replaces Scott Salka, who has resigned his CEO and director positions at the San Diego company. No reason was given for Salka’s resignation but AmpliPhi said that he would be a consultant to the company as Grint takes on his new role. Grint has … Continue reading “Paul Grint Is In, Scott Salka Out as CEO of AmpliPhi Biosciences”
Endocyte Cuts Workforce by 40 Percent After Clinical Trial Falters
Endocyte is halting a clinical trial for one of its cancer drugs and narrowing the focus of another following a review of the two early-stage drug programs, the company announced Friday. The changes are sparking a corporate restructuring that will shift the West Lafayette, IN-based company’s focus to compounds in its drug pipeline that have … Continue reading “Endocyte Cuts Workforce by 40 Percent After Clinical Trial Falters”
Mersana Plans IPO to Finance Clinical Trials for Breast Cancer Drug
Mersana Therapeutics has filed for an initial public stock offering that would help fund clinical trials for the company’s experimental treatment for breast cancer. The paperwork filed with securities regulators lists a $75 million stock offering, but that figure will likely change as Cambridge, MA-based Mersana determines how many shares it will offer and at … Continue reading “Mersana Plans IPO to Finance Clinical Trials for Breast Cancer Drug”
Array Lands $31M in Licensing Deal with Japan’s Ono Pharma
Array BioPharma has agreed to license some rights to two of its clinical-stage cancer drugs to Ono Pharmaceutical, a deal that pays the Boulder, CO, biotech $31.6 million now and potentially more if those drugs hit key milestones. Ono, based in Osaka, Japan, gains development and commercialization rights in Japan and South Korea for binimetinib, … Continue reading “Array Lands $31M in Licensing Deal with Japan’s Ono Pharma”
Bicycle Therapeutics Maps Course to Clinic Backed by $52M Investment
One of the problems with cancer drugs is their broad effect: Besides killing cancer cells, they also harm healthy tissue. Bicycle Therapeutics is developing a new class of drugs that it says can offer a more targeted approach, and it has raised $52 million to support plans to bring its lead drug into clinical trials. … Continue reading “Bicycle Therapeutics Maps Course to Clinic Backed by $52M Investment”
Teva Seeks to Keep Pace in Migraine Drug Race With Trial Results
An experimental Teva Pharmaceutical migraine drug has met the main goals of a late-stage clinical trial, keeping the drugmaker in the race to bring to the market a product that prevents migraine headaches instead of treating them after they start. Teva (NYSE: [[ticker:TEVA]]) reported Wednesday that its drug fremanezumab reduced the number of days during … Continue reading “Teva Seeks to Keep Pace in Migraine Drug Race With Trial Results”
Woodcock: New Approvals Show FDA Is Adapting to Precision Medicine
The randomized controlled trial has long been held up as the gold standard for testing new drugs. But the nation’s top drug evaluator, Janet Woodcock, believes they aren’t necessary for all new experimental treatments. Randomized trials are long, expensive to run, and ultimately produce limited answers, she said at a medical conference last week. The … Continue reading “Woodcock: New Approvals Show FDA Is Adapting to Precision Medicine”
Protagonist, Janssen Ink Development Deal for Crohn’s Disease Drug
Protagonist Therapeutics’ work developing an inflammatory bowel disease drug that can be taken as a pill, rather than injected, now has fresh cash and the backing of a large pharmaceutical partner. Newark, CA-based Protagonist (NASDAQ: [[ticker:PTGX]]) has entered a partnership with Janssen Biotech to develop and commercialize its drug, PTG-200. Janssen is paying Protagonist $50 … Continue reading “Protagonist, Janssen Ink Development Deal for Crohn’s Disease Drug”
Amid Budget Concerns, NIH Preps Beta Test for Precision Medicine Plan
An ambitious plan to recruit 1 million U.S. volunteers and amass a treasure trove of their health information will start next week with a “beta test” that health officials hope to eventually expand nationwide. National Institutes of Health director Francis Collins said Wednesday that the Precision Medicine Initiative will begin in Pittsburgh, where the agency … Continue reading “Amid Budget Concerns, NIH Preps Beta Test for Precision Medicine Plan”