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.

Seed-Stage Deals Show Growing Diversity of Agtech Investments

Fundraising is tough for startups but it’s particularly difficult in agriculture, a sector that has fewer firms focused on agtech investments. The dynamics are starting to change, though. A growing number of early-stage agtech startups are raising money and they’re pulling capital from a broader pool of sources, according to a new report from AgFunder, … Continue reading “Seed-Stage Deals Show Growing Diversity of Agtech Investments”

Seres Dissects Failed Microbiome Drug Trial, Suggests Changes to FDA

The workings of the trillions of microbes that colonize our bodies—known collectively as the human microbiome—are still very much a mystery to scientists. Seres Therapeutics found that out firsthand when its first experimental microbiome drug, for a dangerous bacterial infection, failed a clinical trial last year, sending its shares into a freefall. Since that time, … Continue reading “Seres Dissects Failed Microbiome Drug Trial, Suggests Changes to FDA”

Novan Acne Drug Hits Targets in One Late-Stage Trial, Fails Another

Initial results are in for two late-stage clinical trials testing Novan’s experimental acne drug, and it’s a mixed bag. The topical gel hit all of its goals in one Phase 3 trial but fell short in a second, separate study. While Morrisville, NC-based Novan (NASDAQ: [[ticker:NOVN]]) tries to figure out why the two studies on … Continue reading “Novan Acne Drug Hits Targets in One Late-Stage Trial, Fails Another”

AnaptysBio Adds More Shares, Raises $75M in Stock Market Debut

AnaptysBio is the first U.S. biotech company to go public this year, raising $75 million in an IPO intended to finance development of antibody-based drugs for inflammatory disorders. The San Diego-based company sold 5 million shares at $15 apiece—in line with the $14 to $16 per share range it set earlier this month—and is now … Continue reading “AnaptysBio Adds More Shares, Raises $75M in Stock Market Debut”

Armed with $16M, Cue Biopharma Aims for Selective Immunotherapy

Among the challenges with cell therapy in cancer treatment are the side effects caused by the body itself. While prompting the immune system’s T cells to target cancer has shown potential to be effective, these experimental approaches can also trigger immune reactions that harm patients, says Daniel Passeri, president and CEO of Cue Biopharma. Cue … Continue reading “Armed with $16M, Cue Biopharma Aims for Selective Immunotherapy”

Zimmer Biomet’s Robert Delp Promoted to President, Americas

Medical device company Zimmer Biomet (NYSE: [[ticker:ZBH]]) has named Robert Delp to the position of president, Americas, succeeding Stuart Kleopfer, who is retiring. Delp had previously served as the Warsaw, IN-based company’s vice president of U.S. sales. Delp starts his new role at Zimmer Biomet on Jan. 23, but Kleopfer will remain with the company … Continue reading “Zimmer Biomet’s Robert Delp Promoted to President, Americas”

Biogen to Pay $1.25B to Settle Forward Pharma Patent Suit on MS Drug

Biogen is paying Danish firm Forward Pharma $1.25 billion to settle a patent infringement lawsuit filed over the company’s multiple sclerosis pill dimethyl fumarate (Tecfidera). The settlement announced Tuesday with Forward (NASDAQ: [[ticker:FWP]]) could also put Cambridge, MA-based Biogen (NASDAQ: [[ticker:BIIB]]) on the hook for future royalties on sales of dimethyl fumarate. But the deal … Continue reading “Biogen to Pay $1.25B to Settle Forward Pharma Patent Suit on MS Drug”

Manufacturing Issues Stall Tesaro Cancer Nausea Drug at FDA

Manufacturing problems have held back several drugs from FDA approval, and the latest example is a Tesaro drug developed to ease nausea and vomiting in cancer patients. Tesaro (NASDAQ: [[ticker:TSRO]]) said Thursday that the FDA raised no concerns about the safety or efficacy of its drug, rolapitant, nor did the regulator ask the Waltham, MA-based … Continue reading “Manufacturing Issues Stall Tesaro Cancer Nausea Drug at FDA”

Agtech Startup FarmLogs Harvests $22M From Naspers-Led Series C Round

Farming has always been a data-intensive business but digital approaches to record keeping are starting to take root with more farmers. Agtech startup FarmLogs aims to capitalize on the trend, and it now has $22 million in additional financing to support those efforts. New investor Naspers Ventures led the round Series C round of financing. … Continue reading “Agtech Startup FarmLogs Harvests $22M From Naspers-Led Series C Round”

Takeda, Maverick Therapeutics Enter $125M Cancer Therapy Partnership

Takeda Pharmaceutical, aiming to bolster its cancer drug pipeline, has signed on Maverick Therapeutics to a $125 million partnership for developing new immunotherapy treatments. The funding for Brisbane, CA-based Maverick includes an upfront option, a $23 million Series B investment, and cash for research and development. At the end of the five-year deal, Takeda has … Continue reading “Takeda, Maverick Therapeutics Enter $125M Cancer Therapy Partnership”

Pain Drug Developer Adynxx Picks Up $16M for Another Clinical Trial

Despite the wide range of pain relievers available, many patients find these drugs fall short of easing pain after surgery and during rehabilitation. Drug developer Adynxx is trying to address that pain with a new treatment developed to be administered to patients during surgery. The San Francisco-based biotech now has $16 million to continue testing … Continue reading “Pain Drug Developer Adynxx Picks Up $16M for Another Clinical Trial”

Celgene Pays Anokion $45M for Autoimmune Research, Option to Buy

Celgene hasn’t been afraid to strike deals with early stage biotech companies and the Summit, NJ-based drug developer is at it again, this time entering a research partnership with Anokion in autoimmune diseases. Under the deal announced Monday, Celgene (NASDAQ: [[ticker:CELG]]) is paying Anokion $45 million up front. Anokion, which is based in Lausanne, Switzerland … Continue reading “Celgene Pays Anokion $45M for Autoimmune Research, Option to Buy”

Takeda to Buy Ariad in $5.2B Move to Build Up Cancer Drug Portfolio

[Updated 1/9/17, 11:56 am. See below.] Ariad Pharmaceuticals has agreed to be acquired by Takeda Pharmaceutical in a deal that values the Cambridge, MA-based cancer drug developer at about $5.2 billion. Under the all-cash agreement, Osaka, Japan-based Takeda will acquire all of Ariad’s (NASDAQ: [[ticker:ARIA]]) outstanding shares for $24 each, a nearly 75 percent premium … Continue reading “Takeda to Buy Ariad in $5.2B Move to Build Up Cancer Drug Portfolio”

Indigo’s Microbial Treatment for Cotton Reaps Gains in Crop Yields

Drought presents challenges to cotton farmers in West Texas and this past growing season was no exception. But despite periods of moderate to severe drought in the region, some farmers reported higher crop yields after using a microbial treatment that helped their cotton plants hold up better in dry weather. Cotton plants treated with the … Continue reading “Indigo’s Microbial Treatment for Cotton Reaps Gains in Crop Yields”

Scangos Surfaces to Lead New Infectious Disease Startup, Vir Biotech

George Scangos, who stepped down from the top spot at Biogen late last year, didn’t take long to land a new gig. He is now CEO of Vir Biotechnology, a biotech startup developing treatments for infectious diseases. The move to Vir brings Scangos (pictured) back to the San Francisco area, where he led Exelixis (NASDAQ: … Continue reading “Scangos Surfaces to Lead New Infectious Disease Startup, Vir Biotech”

Neon Therapeutics Hauls in $70M for Personalized Cancer Vaccines

One of the challenges of enlisting the body’s immune system to fight cancer is the constant mutation of the disease. If the body’s immune cells don’t recognize the cancer, they can’t target tumors effectively. Neon Therapeutics believes it has developed a way to make cancer vaccines that recognize and respond to these tumor changes. Now … Continue reading “Neon Therapeutics Hauls in $70M for Personalized Cancer Vaccines”

Versant Closes on $400M Fund, Eyes More Biotech Deals in Europe

Versant Ventures now has $400 million in its coffers to fuel its pursuit of early-stage healthcare technologies and startups, and it has a particular goal of expanding its investment approach in Europe. With the closing of its sixth fund announced Tuesday, San Francisco-based Versant now aims to invest in as many as 25 companies in … Continue reading “Versant Closes on $400M Fund, Eyes More Biotech Deals in Europe”

FDA Rejects Cempra Antibiotic, Asks for Another Clinical Trial

[Updated 12/29/16, 2:50 pm. See below.] The FDA has rejected a Cempra antibiotic drug for community-acquired bacterial pneumonia citing the same safety issues that came to light when an independent advisory panel to the regulator evaluated the drug in November. Chapel Hill, NC-based Cempra (NASDAQ: [[ticker:CEMP]]) said Thursday that the FDA’s rejection letter stated the … Continue reading “FDA Rejects Cempra Antibiotic, Asks for Another Clinical Trial”

Anthera’s Shares Tumble After Cystic Fibrosis Drug Fails in Phase 3

Anthera Pharmaceuticals had been hoping to offer patients with cystic fibrosis a new option to help with some of the severe stomach problems they can face as part of their disease. But its experimental drug fell short in late-stage testing, sending shares of the Hayward, CA, company hurtling downward. Cystic fibrosis is a genetic disease … Continue reading “Anthera’s Shares Tumble After Cystic Fibrosis Drug Fails in Phase 3”

Liver Damage, Patient Deaths Lead FDA to Halt SeaGen Leukemia Trials

Seattle Genetics’ work to develop a drug to treat a form of leukemia has hit a roadblock following the deaths of four patients in clinical trials. The FDA placed a clinical hold or partial holds on three early-stage trials evaluating the Bothell, WA-based company’s experimental drug vadastuximab talirine. Shares of SeaGen (NASDAQ: [[ticker:SGEN]]) tumbled more … Continue reading “Liver Damage, Patient Deaths Lead FDA to Halt SeaGen Leukemia Trials”

Despite FDA Delay, Advocates Hopeful for New Genentech MS Drug

Of the 15 FDA-approved therapies for multiple sclerosis, none work on a rare form of the disorder that leads to a steady and sometimes rapid decline. Genentech is awaiting FDA action on its experimental drug for this “primary progressive” form of the disease, and a new study published today may strengthen its case for approval. … Continue reading “Despite FDA Delay, Advocates Hopeful for New Genentech MS Drug”

Benson Hill Bio Brings Power of Big Data to Small Plant Breeders

When farmers want crops that have a better shot at resisting disease or taking up nutrients, they use breeding techniques to develop new varieties. Crossing plants to create these varieties is an agricultural practice that dates back thousands of years. Breeding has since become more sophisticated, incorporating sophisticated screening technologies to find desirable traits. But … Continue reading “Benson Hill Bio Brings Power of Big Data to Small Plant Breeders”

Acadia Drug Shows Early Promise in Treating Alzheimer’s Psychosis

An Acadia Pharmaceuticals drug developed to treat hallucinations and delusions experienced by Parkinson’s disease patients is now showing signs it could also treat similar psychoses associated with Alzheimer’s disease. San Diego-based Acadia (NASDAQ: [[ticker:ACAD]]) reported that patients treated in an exploratory study with its drug pimavanserin showed a statistically significant reduction in psychosis compared against … Continue reading “Acadia Drug Shows Early Promise in Treating Alzheimer’s Psychosis”

Biogen Promotes Vounatsos to CEO, Capping Scangos’s 6-Year Run

Biogen didn’t go far to find its new CEO. The company promoted chief commercial officer Michel Vounatsos to the top spot on Monday, succeeding former chief executive George Scangos. When Scangos announced this summer that he would step down from Biogen (NASDAQ: [[ticker:BIIB]]), the Cambridge, MA-based biotech said it would consider both internal and external … Continue reading “Biogen Promotes Vounatsos to CEO, Capping Scangos’s 6-Year Run”

Flagship Pioneers New Name, $285M ‘Special Opportunities’ Fund

Flagship Ventures is changing its name and unveiling a new $285 million side fund that will pump more money into the firm’s portfolio companies when they are ready to rapidly grow. The follow-on fund from the newly christened Flagship Pioneering will seek investment opportunities characterized by an “explosive platform with many different applications,” says Noubar … Continue reading “Flagship Pioneers New Name, $285M ‘Special Opportunities’ Fund”

Goldfinch Bio Aims $55M and Cancer Strategy at Genetic Kidney Disease

Chronic kidney disease affects more than 10 percent of U.S. adults, and the risk of developing the condition increases with age. There are plenty of drugs to treat the disease’s symptoms, such as anemia, high blood pressure, and bone trouble. While these drugs can manage the signs and symptoms of the disease, they don’t cure … Continue reading “Goldfinch Bio Aims $55M and Cancer Strategy at Genetic Kidney Disease”

Proteon’s Blood Vessel Drug Flunks Main Phase 3 Test, Shares Plummet

A Proteon Therapeutics drug developed for chronic kidney disease patients has failed the key test in its late-stage clinical trial, putting the company’s shares into a tailspin. Proteon (NASDAQ: [[ticker:PRTO]]) was studying its drug vonapanitase in patients who need kidney dialysis. The Waltham, MA-based company said that compared against a placebo, its experimental drug failed … Continue reading “Proteon’s Blood Vessel Drug Flunks Main Phase 3 Test, Shares Plummet”

ApoGen Biotech Lands $7M to Take On Drug Resistance in Cancer

[Updated, 12/14/16, 5:39 pm. See below.] Seattle startup creator Accelerator Corp. has revealed its latest investment, ApoGen Biotechnologies, a startup that plans to develop cancer drugs that can overcome the resistance tumors develop to other treatments. ApoGen has raised a $7 million Series A to get going. Investors participating in the financing include AbbVie Ventures, … Continue reading “ApoGen Biotech Lands $7M to Take On Drug Resistance in Cancer”

TCR2 Therapeutics Unveils New Cancer Therapy Approach and $44.5M Round

A number of companies are pursuing ways to enlist the immune system for treating cancer. Now TCR² Therapeutics is joining the ranks with technology that it says could improve on how the body’s cancer-fighting cells respond to the disease. Cambridge, MA-based TCR² has $44.5 million in new capital to further develop its technology. MPM Capital … Continue reading “TCR2 Therapeutics Unveils New Cancer Therapy Approach and $44.5M Round”

Senate Approves 21st Century Cures Act, Sending Bill to Obama

The U.S. Senate has voted overwhelmingly to approve the 21st Century Cures Act, a wide-ranging healthcare spending and reform bill that aims to infuse medical research with new funding and also speed up the regulatory approval process for new drugs and medical devices. With the Senate’s 94-5 vote on Wednesday, the bill now advances to … Continue reading “Senate Approves 21st Century Cures Act, Sending Bill to Obama”

Tenaya Spins Out of Gladstone With $50M to Fight Heart Disease

The human body can’t repair the heart damage that leads to heart failure. But new biopharmaceutical company Tenaya Therapeutics aims to find a way by turning research from the nonprofit Gladstone Institutes into regenerative medicine treatments. Tenaya Therapeutics launched on Wednesday, spinning out of San Francisco-based Gladstone. The company is backed by a $50 million … Continue reading “Tenaya Spins Out of Gladstone With $50M to Fight Heart Disease”

First Clinical Trial Done, Elysium Lands $20M for Health Supplements

For many people looking for ways to treat illness or disease, the first thought is to pop a pill. Taking medication is a reactive approach to disease. But Eric Marcotulli, CEO of Elysium Health, says science is now revealing ways that a proactive approach can stave off disease and bodily decline. Elysium, a New York-based … Continue reading “First Clinical Trial Done, Elysium Lands $20M for Health Supplements”

Eli Lilly Diabetes Drug Gets FDA OK for Reducing Heart Health Risks

A diabetes drug jointly marketed by Eli Lilly (NYSE: [[ticker:LLY]]) and German pharmaceutical company Boehringer Ingelheim has won FDA approval expanding its use to include reducing the risk of cardiovascular death in diabetes patients. The FDA initially approved empagliflozin (Jardiance) in 2014 as a way to improve blood sugar control, in addition to diet and … Continue reading “Eli Lilly Diabetes Drug Gets FDA OK for Reducing Heart Health Risks”

Boston Scientific to Buy Neovasc Heart Valve Assets in $75M Deal

With sales of its minimally invasive heart valve growing in Europe and an expected launch of the product coming in the United States, Boston Scientific is now shoring up the resources behind its Lotus Valve System with a deal to acquire a piece of a key supplier that makes parts for the device. Marlborough, MA-based … Continue reading “Boston Scientific to Buy Neovasc Heart Valve Assets in $75M Deal”

Natural Pesticides Maker Marrone Bio Gets EPA Nod on Biofumigant

A biological fumigant developed by Marrone Bio Innovations is one step closer to joining the pest-control toolkit of strawberry farmers after clearing a key regulatory hurdle. Marrone Bio (NASDAQ: [[ticker:MBII]]) announced Monday that the Environmental Protection Agency has registered the Davis, CA-based company’s biofumigant, called MBI-601 EP. The biofumigant was developed to control and suppress … Continue reading “Natural Pesticides Maker Marrone Bio Gets EPA Nod on Biofumigant”

Syngenta, Bayer Try ‘Open Innovation’ to Find Next Big Agtech Idea

Agriculture is a more technical business than many people realize. Consider modern farm equipment: A John Deere tractor today contains more lines of code than a Boeing 747 jetliner, according to Syngenta’s Rick DeRose. Big agriculture companies like Syngenta (NYSE: [[ticker:SYT]]) are now coming to a realization of their own: Not all of the new … Continue reading “Syngenta, Bayer Try ‘Open Innovation’ to Find Next Big Agtech Idea”

Led by Former Lilly Exec, Apexian Out to Tackle Pancreatic Cancer

Pancreatic cancer’s standard of care includes a drug that does not help most people diagnosed with the disease. Gemcitabine (Gemzar) works in only about 10 percent of patients, says Steve Carchedi, CEO of Apexian Pharmaceuticals. Carchedi knows about gemcitabine’s limitations because he worked at Eli Lilly (NYSE: [[ticker:LLY]]) when the FDA approved the Indianapolis-based company’s … Continue reading “Led by Former Lilly Exec, Apexian Out to Tackle Pancreatic Cancer”

AquaBounty Charts Course to Market with $25M Intrexon Deal

Aquaculture company AquaBounty Technologies has scrapped plans to use a broad equity offering to raise the money it needs to bring its genetically engineered salmon to consumers. Instead, it has inked a deal to raise funds by selling securities to synthetic biology company Intrexon, its largest shareholder. The deal with Intrexon (NYSE: [[ticker:XON]]), announced Monday, … Continue reading “AquaBounty Charts Course to Market with $25M Intrexon Deal”

Richard Messmann Joins Apexian as Chief Medical Officer

Apexian Pharmaceuticals has brought on Richard Messmann as the biotech company’s chief medical officer. Before joining Indianapolis-based Apexian, Messmann was chief medical officer of ProNAi Therapeutics in Vancouver, Canada. His 25 years of cancer drug development experience includes stints at Eli Lilly & Co. (NYSE: [[ticker:LLY]]), Endocyte (NASDAQ: [[ticker:ECYT]]), Great Lakes Cancer Institute at Michigan … Continue reading “Richard Messmann Joins Apexian as Chief Medical Officer”

Elanco Leads $8.5M Investment in RTP’s AgTech Accelerator

It’s fall harvest now, and AgTech Accelerator has something new to show from the summer growing season: $8.5 million in additional funding that positions the accelerator to start planting investments in promising agriculture technologies from around the country. The new funding brings the total financial backing for the Research Triangle Park, NC-based accelerator to $20 … Continue reading “Elanco Leads $8.5M Investment in RTP’s AgTech Accelerator”

Zimmer Biomet Digs Deeper into Digital Health with RespondWell Deal

Zimmer Biomet is expanding into telemedicine through the acquisition of RespondWell, a startup whose software allows patients to rehabilitate from surgery at home using messaging, videos, and monitoring handled over the Internet. Warsaw, IN-based Zimmer Biomet (NYSE: [[ticker:ZBH]]) is one of the largest providers of medical devices and products for musculoskeletal care. But care is … Continue reading “Zimmer Biomet Digs Deeper into Digital Health with RespondWell Deal”

Despite Low Crop Prices, Corporate and VC Agtech Investments Soar

Prices for agricultural commodities such as corn, soy, and wheat are at their lowest levels in years, but investment in agricultural technology has never been better. Venture capital firms have increased their agtech investments by 80 percent since 2012, bringing total VC investment in the sector to a total of $3 billion in 2015, according … Continue reading “Despite Low Crop Prices, Corporate and VC Agtech Investments Soar”

Eli Lilly Wins FDA Nod for New Soft Tissue Sarcoma Drug

An Eli Lilly drug for treating soft tissue sarcoma has received accelerated FDA approval, the first new drug to win the regulator’s approval for this type of cancer in more than 40 years. Indianapolis-based Eli Lilly’s (NYSE: [[ticker:LLY]]) olaratumab (Lartruvo) is an injectable product approved for used in combination with doxorubicin, a chemotherapy drug used … Continue reading “Eli Lilly Wins FDA Nod for New Soft Tissue Sarcoma Drug”

Eli Lilly Commits $15M More to Seattle Institute’s TB Drug Search

Eli Lilly unveiled plans today to expand its work treating disease in the developing world, pledging $90 million to improve access to healthcare for 30 million people worldwide by 2030. Nestled in Indianapolis-based Eli Lilly’s (NYSE: [[ticker:LLY]]) plan is $15 million earmarked for the Infectious Disease Research Institute in Seattle. Though that sum is a … Continue reading “Eli Lilly Commits $15M More to Seattle Institute’s TB Drug Search”

ApeX Therapeutics Names Steve Carchedi President and CEO

Cancer drug developer ApeX Therapeutics has appointed Steve Carchedi president and CEO of the Indianapolis, IN-based company. He succeeds David Broecker, who will continue to serve on the company’s board of directors. Carchedi comes to ApeX from Cranbury, NJ-based Cornerstone Pharmaceuticals. His experience also includes various roles at Covidien, Bristol-Myers Squibb (NYSE: [[ticker:BMY]]), Eli Lilly … Continue reading “ApeX Therapeutics Names Steve Carchedi President and CEO”

Aquaculture Industry Casts Wider Net in Food and Consumer Markets

Water covers more than 70 percent of the Earth’s surface, but the oceans’ capacity for meeting the growing consumer demand for seafood is limited—the seas are simply overfished. Some new business opportunities are emerging to produce more fish amid dwindling fish resources. Global seafood consumption reached 143 million metric tons in 2009, an increase of … Continue reading “Aquaculture Industry Casts Wider Net in Food and Consumer Markets”

Elanco Reaches $885M Deal for Boehringer’s Pet Vaccines Portfolio

Elanco, the animal health division of Eli Lilly (NYSE: [[ticker:LLY]]), is filling out its pet products portfolio with a deal to acquire some dog and cat vaccines made by Boehringer Ingelheim. Greenfield, IN-based Elanco said Wednesday that it will pay $885 million for the U.S. cat, dog, and rabies vaccine portfolio of Vetmedica, the animal … Continue reading “Elanco Reaches $885M Deal for Boehringer’s Pet Vaccines Portfolio”

Realync Turns Apartment Hunting Into a Real-Time Video Experience

For most people looking to buy or rent property, the search starts online. Real estate firms and leasing agents adorn their websites with photos that show their properties in the best light. But to consumers browsing these websites, photos can’t replace the experience of seeing a site in person. Matt Weirich, CEO and co-founder of … Continue reading “Realync Turns Apartment Hunting Into a Real-Time Video Experience”