Bayer and Onyx Pharmaceuticals looked like they hit gold last fall, when a study of 760 patients showed that one of their new cancer drugs was able to help patients with colorectal cancer live longer. Today, researchers got the first glimpse at the detailed results, and while it’s encouraging news for the companies and for … Continue reading “Onyx, Bayer’s Next Cancer Drug Shows Slim Survival Edge”
Author: Luke Timmerman
Luke is an award-winning journalist specializing in life sciences. He has served as national biotechnology editor for Xconomy and national biotechnology reporter for Bloomberg News. Luke got started covering life sciences at The Seattle Times, where he was the lead reporter on an investigation of doctors who leaked confidential information about clinical trials to investors. The story won the Scripps Howard National Journalism Award and several other national prizes. Luke holds a bachelor’s degree in journalism from the University of Wisconsin-Madison, and during the 2005-2006 academic year, he was a Knight Science Journalism Fellow at MIT.
Medivation Fails Alzheimer’s Trial, Pfizer Drops Out of Partnership
Medivation’s long shot for Alzheimer’s came up short today. The San Francisco-based company (NASDAQ: [[ticker:MDVN]]) said today its Alzheimer’s drug candidate dimebon failed in a pivotal clinical trial. Medivation and its collaborator, Pfizer, said they plan to quit developing the drug. The bad news came from a trial known as Concert, which enrolled more than … Continue reading “Medivation Fails Alzheimer’s Trial, Pfizer Drops Out of Partnership”
Sanofi CEO Viehbacher on Stirring Innovation in the Era of R&D Cutbacks
Chris Viehbacher has seen plenty of ideas come and go from people trying to shake up the pharma R&D model. No matter how much people have tried to fix things, it still takes a notorious amount of time, money, and risk to create new drugs. Now, as the CEO of Paris-based Sanofi (NYSE: [[ticker:SNY]]), Viehbacher … Continue reading “Sanofi CEO Viehbacher on Stirring Innovation in the Era of R&D Cutbacks”
Seattle Genetics Sees Updated Side Effect Warning in Drug Label
Seattle Genetics is getting some new warnings, including one new language about a potentially deadly brain infection, put into the FDA-approved prescribing information of its lone marketed product. The company (NASDAQ: [[ticker:SGEN]]) said today it is working on an update to the label for brentuximab vedotin (Adcetris), which will include a boxed warning about the … Continue reading “Seattle Genetics Sees Updated Side Effect Warning in Drug Label”
Forma Reels In J&J With $700M Deal; 2nd Cancer Drug Discovery Partner in a Week
Forma Therapeutics has the hot hand among biotech startups in the early days of 2012. Today, it is announcing it has struck its second alliance with a Big Pharma company that wants Forma’s help discovering cancer drugs. The Watertown, MA-based biotech company is announcing today that Janssen Biotech, a unit of New Brunswick, NJ-based Johnson … Continue reading “Forma Reels In J&J With $700M Deal; 2nd Cancer Drug Discovery Partner in a Week”
Canaan Partners Survives VC Turmoil, Raises New $600M Tech/Biotech Fund
Canaan Partners was fortunate to raise its last big venture fund just before the global financial crisis hit in 2008, and now it has a real reason to be thankful again. The Menlo Park-based venture firm is announcing today that it has closed on Canaan IX, a new $600 million venture fund. Canaan plans to … Continue reading “Canaan Partners Survives VC Turmoil, Raises New $600M Tech/Biotech Fund”
Knome Names New CEO, Cuts Deal With Johns Hopkins to Analyze 1,000 Genomes
Like a lot of biotech executives focused on developing drugs, Martin Tolar has long been skeptical of the value of genomics in bringing about personalized medicine. But over the past few months of scoping out new opportunities, he’s become enough of a believer to jump into genomics with both feet, as the new CEO of … Continue reading “Knome Names New CEO, Cuts Deal With Johns Hopkins to Analyze 1,000 Genomes”
Bayer, Keeping Tabs on the ‘Hood, to Open Labs For Mission Bay Startups
Bayer has been working hard the past couple years to get its finger on the pulse of innovation in San Francisco’s Mission Bay neighborhood, and today it’s making another move in that direction by offering up some of its lab space to startups. The Germany-based pharmaceutical company, which already has about 65 people in its … Continue reading “Bayer, Keeping Tabs on the ‘Hood, to Open Labs For Mission Bay Startups”
Five Myths You’ll Hear This Week at the JP Morgan Healthcare Conference
Biotech pilgrims are gathering today for the biggest industry frenzy of the year, the JP Morgan Healthcare Conference. This confab in San Francisco’s Union Square is the singular place each year where essentially all industry mover/shakers—and many wannabes—gather for a marathon week of investment scouting, dealmaking, publicity seeking, job-hunting, and schmoozing. I’ve been going to … Continue reading “Five Myths You’ll Hear This Week at the JP Morgan Healthcare Conference”
Astellas Scraps Antibiotic Partnership With Theravance
South San Francisco-based Theravance said today that Astellas Pharma, its longtime partner in marketing a new antibiotic, has decided to walk away from its collaboration. Theravance (NASDAQ: [[ticker:THRX]]) said Japan-based Astellas has exercised its right to terminate its worldwide license agreement to co-market telavancin (Vibativ) as a once-daily injectable drug for bacterial infections. Astellas has … Continue reading “Astellas Scraps Antibiotic Partnership With Theravance”
PacBio CEO Hugh Martin Resigns, Being Replaced by Mike Hunkapiller
Pacific Biosciences is bringing in an industry pioneer, Michael Hunkapiller, as its new CEO after a disappointing first year on the market with its new breed of DNA sequencing instrument. The Menlo Park, CA-based company (NASDAQ: [[ticker:PACB]]) said today that CEO Hugh Martin has resigned effectively immediately, and is being replaced by Mike Hunkapiller, who … Continue reading “PacBio CEO Hugh Martin Resigns, Being Replaced by Mike Hunkapiller”
Langer, Farokhzad Start New Combo Drug Company, Blend Therapeutics
Some people set a goal of losing weight in the new year, but if you’re Bob Langer and Omid Farokhzad, it’s apparently time to start another new biotech company. The prolific biotech entrepreneurs (Langer is from MIT, while Farokhzad is at Harvard Medical School), along with colleague Stephen Lippard of MIT, said today they have … Continue reading “Langer, Farokhzad Start New Combo Drug Company, Blend Therapeutics”
Gene Security Network, Now Natera, Adds $20M For Prenatal Tests
A little more than 4 million children are born in the U.S. every year, and quite a few of those prospective parents are curious about potential genetic defects in their offspring. And so a group of investors are betting $20 million today that Redwood City, CA-based Gene Security Network is going to make some serious … Continue reading “Gene Security Network, Now Natera, Adds $20M For Prenatal Tests”
Mirador Biomedical Gets FDA Green Light to Expand Use of Digital Sensor
Seattle-based Mirador Biomedical has won FDA clearance to market its medical device for a new set of uses, which doctors have been asking about for months. Mirador said today that its digital pressure sensor technology, which it calls its Compass platform, is now cleared by the FDA for a half dozen different medical uses. The … Continue reading “Mirador Biomedical Gets FDA Green Light to Expand Use of Digital Sensor”
Dendreon Surprises With $82M in Fourth Quarter Sales, Stock Booms
[Update: 6:58 am PT] Dendreon greatly disappointed investors in 2011, but it ended up closing the year out on a stronger note than expected. The Seattle-based biotech company (NASDAQ: [[ticker:DNDN]]) said today it generated $82 million in fourth quarter gross product revenues for sipuleucel-T (Provenge), its immune-boosting therapy for prostate cancer. The company hasn’t yet … Continue reading “Dendreon Surprises With $82M in Fourth Quarter Sales, Stock Booms”
Forma Cuts $65M Deal With Boehringer Ingelheim to Discover Cancer Drugs
Another six months have gone by, so it must be time for another deal for Forma Therapeutics. Sure enough, Watertown, MA-based Forma is announcing today it has struck a partnership to discover new cancer drugs with Germany-based Boehringer Ingelheim. The deal provides $65 million to Forma in a combination of upfront cash and four years’ … Continue reading “Forma Cuts $65M Deal With Boehringer Ingelheim to Discover Cancer Drugs”
Isis, Biogen Strike Potential $299M Deal For Rare Spine Disorder Treatment
Isis Pharmaceuticals has found a new partner in Biogen Idec that’s betting a large amount of money on a new therapy for a rare spinal disorder in newborns. Weston, MA-based Biogen Idec (NASDAQ: [[ticker:BIIB]]) said today that it has agreed to work with Carlsbad, CA-based Isis Pharmaceuticals (NASDAQ: [[ticker:ISIS]]) on an experimental antisense drug for … Continue reading “Isis, Biogen Strike Potential $299M Deal For Rare Spine Disorder Treatment”
Alnylam Gets First Hint of Effectiveness for RNAi Cholesterol-Lowering Drug
Alnylam Pharmaceuticals has been saying for a while that it needs hard data from clinical trials to prove its skeptics wrong, and today it’s coming out with an early hint of effectiveness with its RNA interference-based treatment for lowering cholesterol. Cambridge, MA-based Alnylam (NASDAQ: [[ticker:ALNY]]) is announcing today that it has gotten some encouraging results … Continue reading “Alnylam Gets First Hint of Effectiveness for RNAi Cholesterol-Lowering Drug”
Allozyne “Redistributes” Workforce After Scrapping Poniard Merger Plan
Seattle-based Allozyne has made a small set of job cuts after it was unable to pull the trigger on its plan to go public late last year, Xconomy has learned. Allozyne has let go some of its scientific staff, according to a source close to the situation. When asked how many jobs were eliminated, and … Continue reading “Allozyne “Redistributes” Workforce After Scrapping Poniard Merger Plan”
JeNu Biosciences Raises $1.5M for Ultrasound to “Put Good Things in Skin”
Seattle-based JeNu Biosciences has raised some new cash to go after the emerging market for ultrasound-based skin care devices. The company has pulled in $1.5 million from Seattle’s Second Avenue Partners and other angel investors, out of a round that is expected to be worth $3 million, says CEO Wayne Wager. JeNu has now raised … Continue reading “JeNu Biosciences Raises $1.5M for Ultrasound to “Put Good Things in Skin””
Aveo (Barely) Passes Study With Kidney Cancer Drug, Stock Falls
[Updated] Aveo Pharmaceuticals is starting the New Year with news that it has passed the most important clinical trial in company history, although it appears to have barely eked out the victory, which disappointed investors. Cambridge, MA-based Aveo (NASDAQ: [[ticker:AVEO]]) said today that its lead experimental drug reached its goal in a pivotal clinical trial … Continue reading “Aveo (Barely) Passes Study With Kidney Cancer Drug, Stock Falls”
Xconomy Seattle’s Top 12 Life Sciences Stories of the Year
It’s Editor’s Picks time at the end of the year, which is a sure sign that your local journalists are looking to stick something on the site you can read during a slow week so we can spend time with our families. Seriously, this has been a fascinating and typically frenzied year for us at … Continue reading “Xconomy Seattle’s Top 12 Life Sciences Stories of the Year”
Allozyne Raises More VC Cash, Looks to FDA Meeting After Poniard Deal Fizzles
Seattle-based Allozyne wasn’t able to go public this year, so it has fallen back on Plan B, tapping its existing venture capital backers one more time in a bid to create more value around its lead multiple sclerosis drug candidate. Allozyne, which has spent about $50 million since its founding in 2005 and was down … Continue reading “Allozyne Raises More VC Cash, Looks to FDA Meeting After Poniard Deal Fizzles”
The Year in Seattle Medical Devices, Diagnostics, Health IT
Yesterday, we ran the first half of the Seattle life sciences year in review, which focused on biopharmaceutical companies and global health organizations. Today’s rundown will cover the medical device, diagnostic, and health IT side of the local life sciences cluster. Medical devices may not fare so well in a glamour contest, but this year … Continue reading “The Year in Seattle Medical Devices, Diagnostics, Health IT”
Allozyne, Poniard Scrap Plan to Merge Amid Investor Apathy
Seattle-based Allozyne spent the last six months trying to go public by merging into the shell of what used to be an active, publicly traded biotech company. But in the end, the deal fell apart. Allozyne and San Francisco-based Poniard Pharmaceuticals (NASDAQ: [[ticker:PARD]]) said today in a statement they have “mutually agreed to terminate” the … Continue reading “Allozyne, Poniard Scrap Plan to Merge Amid Investor Apathy”
The Year in Seattle Biotech: Lots of Acquisitions, Few New Startups
This was a great year for Seattle biotech if you measure success through sheer number of acquisitions. But if you prefer to measure the health of an innovation community by the number of exciting new startups it hatches, then this was most certainly a down year. That’s the mixed bag of returns that I saw … Continue reading “The Year in Seattle Biotech: Lots of Acquisitions, Few New Startups”
Video: Tuan Ha-Ngoc on Learning from Science Whizzes at GI
Tuan Ha-Ngoc remembers feeling like he belonged in the bottom 10 percent in terms of intelligence at Genetics Institute when he was getting started in the 1980s. Looking back, he says he loved it. “Most of the people at Genetics Institute in the 1980s were much smarter than I am,” Ha-Ngoc said. “What a fantastic … Continue reading “Video: Tuan Ha-Ngoc on Learning from Science Whizzes at GI”
Millennium: Takeda Acquires San Diego’s Intellikine for $190M Upfront
Japan-based Takeda Pharmaceuticals, which has its cancer drug development operations in Cambridge, MA, said today it is acquiring San Diego-based Intellikine to get ahold of the startup’s portfolio of cancer drugs. Takeda said it has agreed to pay $190 million upfront, plus another $120 million in future milestone payments, to acquire privately held Intellikine. Through … Continue reading “Millennium: Takeda Acquires San Diego’s Intellikine for $190M Upfront”
Bruce Montgomery’s New Startup, Cardeas Pharma, Raises $5M
Bruce Montgomery, the prominent Seattle biotech entrepreneur, has raised $5 million for his latest startup, Xconomy has learned. Cardeas Pharma has pulled in $5 million in equity financing, in the first of two planned closings, Montgomery said in an e-mail. The syndicate is being led by Novo Ventures, and includes San Diego-based Avalon Ventures, Seattle-based … Continue reading “Bruce Montgomery’s New Startup, Cardeas Pharma, Raises $5M”
The Genetics Institute Impact: Caught on Video
We don’t always capture Xconomy events on video, but fortunately the camera was rolling last week at our biggest Boston biotech event of the year—“The Genetics Institute Impact.“ For those of you who missed it, this was the event that brought together more than 250 people from one of Boston’s pioneering biotech companies from the … Continue reading “The Genetics Institute Impact: Caught on Video”
Amgen, Watson Strike $400M Deal for Biosimilar Cancer Drugs
Amgen has spent years defending itself from enemies in the generic drug business, but now the world’s largest biotech company has found a way to join forces with a major maker of copycat pharmaceuticals. Thousand Oaks, CA-based Amgen (NASDAQ: [[ticker:AMGN]]), which has R&D operations in Seattle, San Francisco, and Boston, said today it has agreed to … Continue reading “Amgen, Watson Strike $400M Deal for Biosimilar Cancer Drugs”
Trius Antibiotic Passes Pivotal Study Against Pfizer’s Zyvox
San Diego-based Trius Therapeutics (NASDAQ: [[ticker:TSRX]]) got some long-awaited good news today for its lead antibiotic in development. The company said today that its experimental drug, tedizolid phosphate, met the main goal of its pivotal clinical trial by showing it was roughly equal (non-inferior) to Pfizer’s linezolid (Zyvox) when treating acute skin and skin structure … Continue reading “Trius Antibiotic Passes Pivotal Study Against Pfizer’s Zyvox”
Burrill Raises $313M for New Life Sciences Fund
San Francisco-based biotech industry maven Steve Burrill said today his investment firm has raised $313 million for a new life sciences fund. The Burrill Capital Fund IV started operations on December 1 with $313 million to make a wide variety of early and late-stage investments in companies working on drugs, diagnostics, and medical devices, as … Continue reading “Burrill Raises $313M for New Life Sciences Fund”
Amgen CEO Kevin Sharer’s Report Card: C
Kevin Sharer will not go down in history as one of biotech’s most successful, or beloved, CEOs. But how well did Sharer really perform during his decade running the industry’s biggest company? For those who missed it, Thousand Oaks, CA-based Amgen (NASDAQ: [[ticker:AMGN]]) said last week that Sharer, 63, will be retiring as CEO in … Continue reading “Amgen CEO Kevin Sharer’s Report Card: C”
The Genetics Institute Impact: Some Great Memories and Photos
Genetics Institute, one person told me last night, “was like college, only more fun.” When’s the last time you heard anybody describe a corporate workplace that way? There was something special about the culture and people who made up Genetics Institute, one of Boston’s original biotech highfliers from the ’80s and ’90s. We felt the … Continue reading “The Genetics Institute Impact: Some Great Memories and Photos”
Ariad Loads Up With $200M Stock Deal, After Big Medical Meeting
Cambridge, MA-based Ariad Pharmaceuticals was one of the stars of the show at a recent blood cancer meeting, and now it’s striking while the iron is hot to raise more than $200 million in new cash. Ariad (NASDAQ: [[ticker:ARIA]]) said today it has agreed to sell 21.5 million new shares of common stock at $10.42 … Continue reading “Ariad Loads Up With $200M Stock Deal, After Big Medical Meeting”
Atlas Venture, Shire to Create Startups to Tackle Rare Diseases
Atlas Venture has been spending a lot of time lately figuring out how to create new drugs, and new companies, in untraditional ways—and it is showing the results of its strategizing again today through a new partnership with Shire Human Genetic Therapies. Cambridge,MA-based Atlas said it has formed a multi-year collaboration with Shire to look … Continue reading “Atlas Venture, Shire to Create Startups to Tackle Rare Diseases”
Vertex Names Jeff Leiden as New CEO, Staring Down Tough Competition
[Update: 10:40 am ET] Vertex Pharmaceuticals is getting a new CEO, as it faces tough new competition with its flagship hepatitis C drug and prepares to roll out a second new medicine for cystic fibrosis. Cambridge, MA-based Vertex (NASDAQ: [[ticker:VRTX]]) said today that Jeff Leiden, a member of the company’s board and a managing director … Continue reading “Vertex Names Jeff Leiden as New CEO, Staring Down Tough Competition”
Hutch Spinoff Presage Biosciences Shuffles Management
Seattle-based Presage Biosciences, a spinoff from the Fred Hutchinson Cancer Research Center, is making some leadership changes. CEO Caitlin Cameron has resigned, and is being replaced on an interim basis by Jim Towne, an investor in the company who was briefly president of Microsoft in its early days. Nathan Caffo, Presage’s vice president of business … Continue reading “Hutch Spinoff Presage Biosciences Shuffles Management”
Third Rock Looks to Fight Fat in a New Way, With Ember Therapeutics
Obesity is one of the biggest public health problems of the 21st century, and now a Boston biotech startup is looking to fight it in an unorthodox way. The bet at Ember Therapeutics is that it can coax the body to burn off some of that unwanted fat. The company is emerging from stealth mode … Continue reading “Third Rock Looks to Fight Fat in a New Way, With Ember Therapeutics”
See You Later at “The Genetics Institute Impact”
We are getting ready this afternoon to head over to the Koch Institute for Xconomy’s biggest life sciences event of the year, “The Genetics Institute Impact.” This event, a reunion of one of Boston’s pioneering biotech companies, is sold out, with more than 275 people registered. We expect standing room only in the back, and … Continue reading “See You Later at “The Genetics Institute Impact””
Fate Therapeutics Names Biotech Vet Bill Rastetter as Chairman, Interim CEO
Fate Therapeutics has been quiet during a down time for the stem cell business, but now it’s making news by luring a big name into its inner management circle. Bill Rastetter, the CEO of Idec Pharmaceuticals during its long journey to develop the blockbuster lymphoma drug rituximab (Rituxan), has agreed to become the chairman and … Continue reading “Fate Therapeutics Names Biotech Vet Bill Rastetter as Chairman, Interim CEO”
Alnylam Racing to Prove RNAi Works, For a Disease You’ve Never Heard Of
Alnylam Pharmaceuticals has been in the doghouse for a while now, as its technology of choice has fallen out of favor in the industry. But while many people have written it off, the Cambridge, MA-based company has started to show hints that it might—just might—be onto something that works against a rare and deadly disease. … Continue reading “Alnylam Racing to Prove RNAi Works, For a Disease You’ve Never Heard Of”
Cerevast Therapeutics Nails Down $6.6M for Ultrasound Stroke Device
[Update: 4:15 pm] Redmond, WA-based Cerevast Therapeutics has raised $6.6 million in venture capital to develop a new ultrasound technology to treat stroke patients. The company, led by Icos veteran Bradford Zakes, said today that that it raised the money from seven investors in a Series C preferred stock offering. The round could be worth … Continue reading “Cerevast Therapeutics Nails Down $6.6M for Ultrasound Stroke Device”
AVI Biopharma Axes 28% of Workforce, After Missing Out on Flu Contract
AVI Biopharma has made some significant job cuts in Washington and Oregon after missing out on a potentially huge federal contract to make an RNA-based treatment against pandemic flu. The Bothell, WA-based company (NASDAQ: [[ticker:AVII]]) is cutting the jobs of about 35 of its 125 employees—28 percent of the workforce—according to CEO Chris Garabedian. The … Continue reading “AVI Biopharma Axes 28% of Workforce, After Missing Out on Flu Contract”
Optimer Wins EU Approval for New Antibiotic
Optimer Pharmaceuticals got approval in the U.S. for its new antibiotic just in time for the Memorial Day weekend, and now it has closed out the year by getting clearance for the drug in Europe. The San Diego-based biotech company (NASDAQ: [[ticker:OPTR]]) said today it has gotten clearance from the European Commission to start selling … Continue reading “Optimer Wins EU Approval for New Antibiotic”
The Hepatitis C Market: Biotech’s Version of the Daytona 500
Biotech rivalries are sometimes a bit like boxing matches, where you have two lone fighters vying for the prize. But the hepatitis C market is turning into a battle royal that’s more wide open and unpredictable, with all the competitive maneuvering, surprise crashes, and comebacks you might expect from the Daytona 500. The medical advances … Continue reading “The Hepatitis C Market: Biotech’s Version of the Daytona 500”
Onyx Drug Effective in New Myeloma Patients, Taking Aim at Millennium
[Updated: 8:45 am PT] Onyx Pharmaceuticals has set its sights on shaking up the standard of care for a deadly cancer of the bone marrow, and now results from at least one small study suggest it has a shot. Researchers are reporting today that when the experimental treatment from South San Francisco-based Onyx (NASDAQ: [[ticker:ONXX]]) … Continue reading “Onyx Drug Effective in New Myeloma Patients, Taking Aim at Millennium”
Groove Biopharma Snags $6M to Push the Frontiers With MicroRNA Drugs
Seattle-based Groove Biopharma has nailed down another $6 million in venture capital to continue its quest to create a class of drugs that work unlike anything else on the market today. Groove, the microRNA drug developer founded at the Seattle-based Accelerator in 2008, has secured its Series B financing from the same investors who put … Continue reading “Groove Biopharma Snags $6M to Push the Frontiers With MicroRNA Drugs”
Seattle Genetics, Millennium Look to Broaden Reach of Hodgkin’s Drug
Seattle Genetics and its partner, Millennium: The Takeda Oncology Company, are following one of the well-traveled roads in cancer drug development. It’s about first gaining experience in the market by treating a small group of the very sickest patients, then working backwards until your drug eventually becomes part of the standard of care for more … Continue reading “Seattle Genetics, Millennium Look to Broaden Reach of Hodgkin’s Drug”