This week we had a so-small-it’s-scary acquisition of a local medical device company, along with some more encouraging news of a local biotech company entering its first clinical trial. —Seattle-based Calypso Medical Technologies agreed to be acquired by Palo Alto, CA-based Varian Medical Systems this week for $10 million upfront, plus undisclosed future milestone payments. This … Continue reading “The Immunex Impact, Calypso Gets Acquired, Women in Bio’s Kickoff, & More in Seattle-Area Life Sciences News”
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.
Theraclone Enters Clinical World, With Flu Antibody That Might Be Handy in Pandemic
Theraclone Sciences has made a lot of news lately with its antibody discovery prowess, but now it’s getting to the point where the rubber hits the road in biotech—clinical trials. The Seattle-based biotech company, founded in 2005, is announcing today that it has started its first clinical trial. This study will look at an experimental … Continue reading “Theraclone Enters Clinical World, With Flu Antibody That Might Be Handy in Pandemic”
Orexigen Revives Obesity Drug After One More Go-Round With FDA
Orexigen Therapeutics was left for dead earlier this year when its obesity drug was shot down by the FDA. But today it had a message for investors that could be interpreted as “hold on, we might not be dead yet after all.” The San Diego-based biotech company (NASDAQ: [[ticker:OREX]]) said today that has decided to re-start … Continue reading “Orexigen Revives Obesity Drug After One More Go-Round With FDA”
Tokai Snaps Up $23M From Novartis and Apple Tree to Challenge Leaders in Prostate Cancer
[Correction: 2 pm ET 10/6/11] The big bet at Cambridge, MA-based Tokai Pharmaceuticals is on prostate cancer, and now the size of that bet is getting a lot bigger. Tokai is announcing today it has raised $23 million in a Series D3 financing, which included its existing investors Novartis Venture Fund, Apple Tree Partners, and … Continue reading “Tokai Snaps Up $23M From Novartis and Apple Tree to Challenge Leaders in Prostate Cancer”
Stirring the Pot Once in a While Doesn’t Hurt, and It Could Help Biotech Break its Malaise
Listen to enough biotech industry leaders talk in public, and you’ll hear a lot of carefully scripted comments. Everyone can list off their corporate milestones on a PowerPoint slide, and utter some politically correct platitudes about novel technology, helping patients, having a “good working relationship” with the FDA, constructive partnership talks. Blah, blah, blah. Rarely … Continue reading “Stirring the Pot Once in a While Doesn’t Hurt, and It Could Help Biotech Break its Malaise”
Technology Alliance Innovation Showcase
The Technology Alliance is holding its fall Innovation Showcase, which will feature 3-6 presentations from startup companies, on November 3. For more information on how to register, click here.
Women in Bio’s Seattle Chapter Kick-Off: The Photo Gallery
Last night, I was in a room with 200 women and, oh, about five guys. I’m sure most men have never been to an event quite like this, especially in the typically male-dominated world of the biotech business. This was the founding meeting for the Seattle chapter of Women in Bio, an international networking organization … Continue reading “Women in Bio’s Seattle Chapter Kick-Off: The Photo Gallery”
Cocrystal Discovery Snags $7.5M in Hepatitis C Collaboration With Teva
Cocrystal Discovery, the Bothell, WA-based drug discovery startup led by a couple of Icos veterans, has nailed down $7.5 million in new investment to develop a new kind of hepatitis C drug with Israel-based Teva Pharmaceutical. Teva, the big maker of generic drugs that’s increasingly seeking to invent new ones, agreed to invest the money … Continue reading “Cocrystal Discovery Snags $7.5M in Hepatitis C Collaboration With Teva”
Merck Joins the Big Pharma VC Party, Setting Up $250M Biotech Investment Fund
[Updated with Merck comment 1:25 pm ET, 9/16] Just about all the major pharmaceutical companies have their own venture capital funds to invest in biotech startups, and now one of the real biggies, Whitehouse Station, NJ-based Merck, has joined the club. Merck (NYSE: [[ticker:MRK]]) has established the new Merck Research Venture Fund (MRVF) with $250 … Continue reading “Merck Joins the Big Pharma VC Party, Setting Up $250M Biotech Investment Fund”
The Immunex Impact: Join Steve Gillis, Chris Henney and Many More on Dec. 1
Immunoids, and friends of Immunoids, listen up. Come December, it will be 10 years since Immunex agreed to be acquired by Amgen. I figure it’s the perfect time to reunite the people who lived through the exhilarating, and sometimes terrifying, experience of building Seattle’s first major biotech company. So I’m super-psyched to say that we … Continue reading “The Immunex Impact: Join Steve Gillis, Chris Henney and Many More on Dec. 1”
Ion Torrent’s Fast and Cheap DNA Sequencer Catches On, Even as Biologists Tighten Belts
Ask Jonathan Rothberg a few questions about his new venture in DNA sequencing, and, ever the showman, he find references to a pivotal event in world history while delivering what amounts to a “no comment.” The questions were basic enough: How many employees do you have in San Francisco and Guilford, CT? How much has … Continue reading “Ion Torrent’s Fast and Cheap DNA Sequencer Catches On, Even as Biologists Tighten Belts”
Dendreon Slashes 500 Jobs, Gates Foundation Adds Novartis Exec, Theraclone Tacks on $10M, & More Seattle-Area Life Sciences News
The writing was on the wall at Dendreon for weeks, but that didn’t make the bad news of layoffs any easier to stomach. —Seattle-based Dendreon (NASDAQ: [[ticker:DNDN]]) said this past week that it is cutting 500 jobs, including about 100 locally, as it seeks to conserve cash in the wake of its sales and marketing … Continue reading “Dendreon Slashes 500 Jobs, Gates Foundation Adds Novartis Exec, Theraclone Tacks on $10M, & More Seattle-Area Life Sciences News”
Computing in the Age of the $1,000 Genome. Our Next Big Event in SF Oct. 24
The $1,000 genome is coming fast, whether society is ready for it or not. This field has moved so fast, reasonable people have estimated we will have sequenced millions of genomes within a few years. It’s even conceivable that individuals will get sequenced more than once in a lifetime, to track how their health is … Continue reading “Computing in the Age of the $1,000 Genome. Our Next Big Event in SF Oct. 24”
RF Surgical Adds $12M to Make Sure Surgeons Don’t Leave Sponges Inside Patients
RF Surgical, the Bellevue, WA-based maker of technology to make sure surgical sponges aren’t left inside patients, has raised another $12 million in venture capital. Split Rock Partners, a new investor, joined the financing round along with previous investors Menlo Ventures, Stanford University, and two of the company founders. Back in November, when I wrote … Continue reading “RF Surgical Adds $12M to Make Sure Surgeons Don’t Leave Sponges Inside Patients”
Former Genzyme Boss Henri Termeer Gives $10M to MGH for Personalized Medicine
Henri Termeer, the former CEO of Cambridge, MA-based Genzyme, has given $10 million to Massachusetts General Hospital to establish a new center for developing more personalized cancer drugs, according to a report in today’s Boston Globe. The new Henri and Belinda Termeer Center for Targeted Therapies will initially focus on certain genetic forms of breast … Continue reading “Former Genzyme Boss Henri Termeer Gives $10M to MGH for Personalized Medicine”
Gates Foundation Adds Novartis Vet, Trevor Mundel, as New Global Health Leader
The Bill & Melinda Gates Foundation has a new boss for its multi-billion dollar global health division. Trevor Mundel, the former global head of development for Novartis, the Switzerland-based pharmaceutical giant, will start at the Seattle-based foundation on December 1, according to a statement. Mundel will oversee the foundation’s $14.7 billion global health grant portfolio … Continue reading “Gates Foundation Adds Novartis Vet, Trevor Mundel, as New Global Health Leader”
Solta Acquires Ultrasound Body Sculpting Technology from Medicis for $35M
The big idea of removing body fat through concentrated ultrasound waves hasn’t really caught on yet, but Hayward, CA-based Solta Medical is going to take a flier on it now. Solta (NASDAQ: [[ticker:SLTM]]) said today it has agreed to pay $15 million up front, plus another $20 million in near-term payments, to acquire the Bothell, WA-based … Continue reading “Solta Acquires Ultrasound Body Sculpting Technology from Medicis for $35M”
VentiRx Concentrates Its Bet on Cancer, and Seattle
For its first five years, VentiRx Pharmaceuticals had an unusual setup in which it was based in two places, with a drug development team in Seattle, and the business and administrative operation in San Diego. Now it’s all being merged together in Seattle, as the company looks to conserve cash and concentrate its efforts on … Continue reading “VentiRx Concentrates Its Bet on Cancer, and Seattle”
Genentech Seeks FDA Clearance for Next Skin Cancer Drug
Genentech is shipping off its latest application to the FDA to start selling a new cancer drug. This morning, the South San Francisco-based unit of Roche said it has filed paperwork for U.S. approval of vismodegib, a new drug for people with a deadly type of skin cancer that can’t be surgically removed. The drug, … Continue reading “Genentech Seeks FDA Clearance for Next Skin Cancer Drug”
What Most Biotechies Are Missing on Twitter: A Huge Networking Opportunity
Twitter is coming to biotech, it’s only a matter of time. And this is a truly wonderful thing. This thought occurred to me as I sat in my Seattle office, watching a video from a panel discussion of eight people in Boston—journalists, executives, venture capitalists, a PR person—who were talking about how biotechies can get … Continue reading “What Most Biotechies Are Missing on Twitter: A Huge Networking Opportunity”
Dendreon Concentrates Job Cuts in Manufacturing, but Seattle Feels the Axe Too
Employees at Seattle-based Dendreon (NASDAQ: [[ticker:DNDN]]) have been on pins and needles for five weeks since they heard layoffs were in the works, and when the bad news came today, few parts of the company were spared. Today’s layoffs of 500 employees, about one-fourth of the workforce, were spread among all functions within the company, … Continue reading “Dendreon Concentrates Job Cuts in Manufacturing, but Seattle Feels the Axe Too”
Crescendo Bioscience Nabs $56M to Help Personalize Rheumatoid Arthritis Therapy
South San Francisco-based Crescendo Bioscience has raked in $56 million today for a technology to help doctors and patients better decide which drug is best for them—especially when tens of thousands of dollars are on the line. Crescendo said today it has raised a total of $56 million in new capital, through a $31 million … Continue reading “Crescendo Bioscience Nabs $56M to Help Personalize Rheumatoid Arthritis Therapy”
Dendreon Whacks 500 Jobs, 25% of Workforce, After Missing Sales Goal
[Updated: 1:15 pm PT] People at Seattle-based Dendreon (NASDAQ: [[ticker:DNDN]]) have been waiting for five weeks to find out how many employees would lose their jobs, after the company said it was falling short of its sales forecast for 2011. Now the other shoe has dropped. Dendreon said today it has cut the jobs of … Continue reading “Dendreon Whacks 500 Jobs, 25% of Workforce, After Missing Sales Goal”
Theraclone Snaps Up $10.6M Financing
Theraclone Sciences acting CEO Steve Gillis dropped a hint earlier this week that he was looking to close another $10 million in financing for the company, and now it’s official. Seattle-based Theraclone, the antibody drug discovery shop, is announcing today it has raised $10.6 million in an extension to its Series B financing. The Series … Continue reading “Theraclone Snaps Up $10.6M Financing”
Oncothyreon CEO Bob Kirkman Takes Leave, Chairman Chris Henney to Fill In
[Updated: 10:28 am PT] Seattle-based Oncothyreon (NASDAQ: [[ticker:ONTY]]) is getting some new executive leadership, at least for a while, anyway. CEO Bob Kirkman is taking what the company calls a “temporary medical leave of absence,” starting Monday, Sept. 12, according to a regulatory filing. While Kirkman is away, chairman Chris Henney will step in to … Continue reading “Oncothyreon CEO Bob Kirkman Takes Leave, Chairman Chris Henney to Fill In”
Theraclone Sniffs Around for $10M, Dendreon Gets Third Factory OK, Zymeworks’ Big Merck Deal, & More Seattle-Area Life Sciences News
This being a short week, I’m reaching back for two weeks’ worth of headlines, especially since a lot of readers are just getting back from vacation. —Seattle’s Theraclone Sciences picked up some national recognition this week by being named one of the Fierce 15 emerging life sciences companies by FierceBiotech. Acting CEO Steve Gillis told … Continue reading “Theraclone Sniffs Around for $10M, Dendreon Gets Third Factory OK, Zymeworks’ Big Merck Deal, & More Seattle-Area Life Sciences News”
Marina Biotech Shuffles Management Team, as RNAi Falls Out of Favor, Cash Runs Low
[Updated: 8:45 am PT, 9/8/11] Bothell, WA-based Marina Biotech (NASDAQ: [[ticker:MRNA]]), the developer of RNA interference drugs, has been struggling to hold on during a period when many drug companies have given up on its technology, and today it’s seeing whether a bunch of new blood in the executive suite can help turn things around. … Continue reading “Marina Biotech Shuffles Management Team, as RNAi Falls Out of Favor, Cash Runs Low”
Ipierian Hires New CEO to Carry on With Stem Cells for Discovering Neurological Drugs
iPierian, the South San Francisco-based developer of stem cell technology co-founded by top scientists at Harvard University, said today it has hired a new CEO. Nancy Stagliano, the co-founder and former CEO of South San Francisco-based CytomX Therapeutics, has taken the top job at iPierian, while interim CEO Peter Van Vlasselaer has moved aside to … Continue reading “Ipierian Hires New CEO to Carry on With Stem Cells for Discovering Neurological Drugs”
Amira Pharma on How it Beat the Odds, and Sold an Early Stage Drug to Bristol-Myers for $325M
Amira Pharmaceuticals CEO Bob Baltera has gotten lots of questions lately from his fellow biotech entrepreneurs, which all basically go something like this: “How did you do that?” Baltera has certainly had a lot to talk about since late July when Amira agreed to be acquired by New York-based Bristol-Myers Squibb (NYSE: [[ticker:BMY]]) for $325 … Continue reading “Amira Pharma on How it Beat the Odds, and Sold an Early Stage Drug to Bristol-Myers for $325M”
Theraclone Nabs Industry Award, Scopes Out Extra $10M Financing
Seattle-based Theraclone Sciences is enjoying a moment in the national biotech spotlight today, just as it happens to be on the prowl for some new cash. Theraclone was honored today as one of the Fierce 15, an annual award that the trade publication FierceBiotech gives out to 15 emerging biotech companies around the world. In … Continue reading “Theraclone Nabs Industry Award, Scopes Out Extra $10M Financing”
Fearless Fantasy Football, Uh, I Mean Biotech, Predictions for the Season Ahead
Football season is getting started this week, and I’m pumped. This is the time millions of people test their wits against friends (and strangers) in fantasy football. For fellow biotech nerds who aren’t familiar, this is a little bit like the stock market—you try to pick a diversified portfolio of pro football players who you … Continue reading “Fearless Fantasy Football, Uh, I Mean Biotech, Predictions for the Season Ahead”
Pfizer Beefs Up Cambridge Presence, Adding 400 Jobs in Kendall Square
Pfizer is gobbling up some prime biotech real estate in Cambridge, MA. The New York-based pharma company (NYSE: [[ticker:PFE]]) is adding space for 400 employees at the heart of the biotech R&D hub in Kendall Square. The world’s largest drug company—which greatly increased its Boston presence a couple years ago through the $68 billion acquisition … Continue reading “Pfizer Beefs Up Cambridge Presence, Adding 400 Jobs in Kendall Square”
Ardelyx Nabs $30M To Develop Drug for Irritable Bowel Syndrome, and High Blood Pressure
Fremont, CA-based Ardelyx said today it has nailed down $30 million in a Series B venture round. Much of the cash will go toward developing Ardelyx’s lead drug candidate for a couple different uses, for patients with a form of irritable bowel syndrome and others with high blood pressure. Amgen Ventures participated in the round, … Continue reading “Ardelyx Nabs $30M To Develop Drug for Irritable Bowel Syndrome, and High Blood Pressure”
Xoma CEO Resigns After Four-Year Push To Go Commercial
Xoma, the Berkeley, CA-based antibody drug developer that has been around for 30 years, said today that CEO Steve Engle has resigned, effective immediately. He will be replaced on an interim basis by John Varian, a member of the board. Engle, who has been with the company four years, is also relinquishing his titles of … Continue reading “Xoma CEO Resigns After Four-Year Push To Go Commercial”
Jennerex Shows that Unorthodox Cancer-Fighting Virus Can be Delivered the Usual Way
Most patients who take cancer drugs today get them through an intravenous infusion. Scientists have never been quite been able to consistently get this delivery route to work for genetically engineered cancer-fighting viruses, but San Francisco-based Jennerex Biotherapeutics is reporting today that it has found a way, in a move that could help its oncolytic … Continue reading “Jennerex Shows that Unorthodox Cancer-Fighting Virus Can be Delivered the Usual Way”
George Scangos, the Boy From Working Class Boston, on His Road Back to Lead Biogen Idec
George Scangos spends much of his time these days in an office about 10 miles from the working class Greek neighborhood in Lynn, MA, where he grew up. You could say he’s come a long way in those 10 miles. The kid who didn’t speak English until he went to elementary school, and who didn’t … Continue reading “George Scangos, the Boy From Working Class Boston, on His Road Back to Lead Biogen Idec”
Computing in the Age of the $1,000 Genome: Speakers from Wired, Fortune Join All-Star Lineup
Some amazing, and potentially disturbing, things could happen when scientists are able to sequence a person’s entire genome for $1,000 and in less than a day’s work. The technology is heading in that direction, fast. So I’m excited to announce today that a few more big thinkers on DNA sequencing technology and its societal implications … Continue reading “Computing in the Age of the $1,000 Genome: Speakers from Wired, Fortune Join All-Star Lineup”
Qliance Adds 2 New Clinics
Seattle-based Qliance Medical Management, the primary care medical provider that accepts monthly fees instead of health insurance, said today it is adding two new clinics to its network in Western Washington—one in Tacoma and another in Mill Creek. The company, backed with investments by Jeff Bezos, Michael Dell, and Drew Carey, already has offices in … Continue reading “Qliance Adds 2 New Clinics”
Zymeworks Snags $187M Deal With Merck to Discover Multi-Pronged Antibodies
Merck has made plain that it needs to elevate its game in biotech drug development, and that means turning to partners for help. The latest chapter in this ongoing story is now unfolding at a little company called Zymeworks in Vancouver, BC. Zymeworks is announcing today it has secured a partnership with Whitehouse Station, NJ-based … Continue reading “Zymeworks Snags $187M Deal With Merck to Discover Multi-Pronged Antibodies”
The Fall of Pfizer: How Big is Too Big for Pharma Innovation?
There are big companies out there—Apple, Google, Amazon—that most people today would consider innovative developers of new products. But can a company that seeks to create new drugs get too big to innovate? Is there something about life sciences that requires it to stay small if it wants to create? The question has been on … Continue reading “The Fall of Pfizer: How Big is Too Big for Pharma Innovation?”
Dendreon Wins FDA OK for Atlanta Provenge Factory, Completing National Network
Seattle-based Dendreon has stumbled in early sales and marketing of its new prostate cancer drug, but the company has gone 3-for-3 in its effort to build a national network of manufacturing centers for the novel product. Dendreon (NASDAQ: [[ticker:DNDN]]) said today it has received FDA clearance to start producing sipuleucel-T (Provenge) from a new factory … Continue reading “Dendreon Wins FDA OK for Atlanta Provenge Factory, Completing National Network”
Thane Kreiner, the Biotech-Entrepreneur-Turned-Educator With 1 Billion People on His Mind
Thane Kreiner, in the prime of his professional life at 50, could be doing pretty much whatever he wants in Silicon Valley’s biotech industry. But about a year ago, he took a job that offered him a big cut in salary, no stock options, and no performance bonuses. The lure? The chance to help build … Continue reading “Thane Kreiner, the Biotech-Entrepreneur-Turned-Educator With 1 Billion People on His Mind”
Seattle Genetics’ Market Debut, Pathway Gets Bought, Theraclone’s Latest Trick Against HIV, & More Seattle-Area Life Sciences News
Seattle Genetics made waves both locally and nationally this week with an FDA approval that’s a historic step for the antibody drug business, and raises some interesting questions about the economics of cancer. —Seattle Genetics (NASDAQ: [[ticker:SGEN]]) nailed down FDA approval of its first product on Friday. The drug, brentuximab vedotin (Adcetris) is designed to … Continue reading “Seattle Genetics’ Market Debut, Pathway Gets Bought, Theraclone’s Latest Trick Against HIV, & More Seattle-Area Life Sciences News”
Complete to Sequence 1,000 Kids’ Genomes
Complete Genomics (NASDAQ: [[ticker:GNOM]]), the Mountain View, CA-based company that sequences entire human genomes as a service for researchers, said today it will determine the sequences of 1,000 genomes as part of the second phase of an ongoing pediatric cancer study sponsored by the National Cancer Institute. Scientists at SAIC-Frederick will compare samples of tumors, … Continue reading “Complete to Sequence 1,000 Kids’ Genomes”
Vivus Adds $45.8M
Vivus (NASDAQ: [[ticker:VVUS]]), the Mountain View, CA-based developer of drugs for obesity and erectile dysfunction, said today it has raised $45.8 million in a stock offering. The company agreed to sell about 6.9 million shares of stock at $6.65 apiece. Funds managed by QVT Financial were the lead investors in the deal, while two other … Continue reading “Vivus Adds $45.8M”
Video: Seattle Genetics CEO Makes the Case for a $100K Cancer Drug
Seattle Genetics is making news all over the Web today, in the first full business day since it won FDA approval for its new targeted antibody drug for rare lymphomas. While the drug won FDA approval a little bit earlier than expected, the company kept everyone in suspense until today on one critical fact—how much … Continue reading “Video: Seattle Genetics CEO Makes the Case for a $100K Cancer Drug”
Seattle Genetics Sets Lymphoma Drug Price at $13,500 Per Dose
Seattle Genetics is now in position to start selling its first new drug, and it won’t be cheap. The Bothell, WA-based biotech company (NASDAQ: [[ticker:SGEN]]), fresh off its FDA approval of brentuximab vedotin (Adcetris) on Friday, said it will charge $13,500 per dose for the new drug for Hodgkin’s lymphoma and a related disease, anaplastic … Continue reading “Seattle Genetics Sets Lymphoma Drug Price at $13,500 Per Dose”
Dendreon Adds Ex-ImClone CEO to Board
Seattle-based Dendreon (NASDAQ: [[ticker:DNDN]]) said today it has named John H. Johnson, the CEO of East Brunswick, NJ-based Savient Pharmaceuticals (NASDAQ: [[ticker:SVNT]]). Johnson was previously the head of Eli Lilly’s oncology business unit, and the CEO of ImClone Systems, the cancer drug developer, when it was acquired by Lilly for more than $6.5 billion in … Continue reading “Dendreon Adds Ex-ImClone CEO to Board”
Seattle Genetics: The Next Litmus Test for High Priced Cancer Drugs
[Update: 9:20 am ET] Dendreon ran into a buzz saw of opposition last year when it priced its new prostate cancer drug at $93,000 per patient. Genentech has loads of critics who say it has overreached on price with its antibody drugs for cancer, especially in cases where the data supporting the drug is controversial, … Continue reading “Seattle Genetics: The Next Litmus Test for High Priced Cancer Drugs”
Seattle Genetics Wins FDA Approval of First Drug, a New Treatment for Lymphomas
Seattle Genetics’ big day has arrived, as it has won FDA clearance to start selling its first new drug on the U.S. market after 14 years in business. The company has received FDA clearance to start marketing brentuximab vedotin (Adcetris) as a new treatment for U.S. patients with a pair of rare lymphomas—Hodgkin’s disease and … Continue reading “Seattle Genetics Wins FDA Approval of First Drug, a New Treatment for Lymphomas”