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.

PacBio Chief Scientist Heads to NYC to Run New $100M Genomics Center at Mt. Sinai

Eric Schadt, one of the world’s top researchers looking at how changes in the genome lead to disease, is leaving his full-time job as chief scientist of Pacific Biosciences to spearhead a new genomics research center armed with more than $100 million of financial backing at Mt. Sinai School of Medicine in New York. This … Continue reading “PacBio Chief Scientist Heads to NYC to Run New $100M Genomics Center at Mt. Sinai”

Will Biotech Ever Again Captivate the Public Imagination, Like Facebook or LinkedIn?

Everywhere you look this spring, there are signs of bubbly enthusiasm for technology. Microsoft just paid $8.5 billion for a company that isn’t profitable. Facebook has racked up more than 600 million members around the world. LinkedIn is teed up to go public this week at a valuation of more than $3 billion. It may … Continue reading “Will Biotech Ever Again Captivate the Public Imagination, Like Facebook or LinkedIn?”

iPierian, Stem Cell Startup With Big Science & Big Bucks, Axes Group of Top Executives

The board of iPierian, the South San Francisco-based stem cell company with high-profile scientific founders from Harvard University and prominent financial backers that include GlaxoSmithKline, Kleiner Perkins Caufield & Byers, Google Ventures, and Biogen Idec, has terminated several members of the company’s senior executive team as part of a shift in strategy, Xconomy has learned. … Continue reading “iPierian, Stem Cell Startup With Big Science & Big Bucks, Axes Group of Top Executives”

Geospiza Sells to PerkinElmer, PATH Vaccine Nabs $100M, Halosource Gets China Approval, & More Seattle-Area Life Sciences News

We had one pretty noteworthy acquisition in the Bio/IT community this week, and a smattering of news items from the world of global health, biotech drugs, and biofuels. —Seattle-based Geospiza, one of the mainstays of the bioinformatics industry, agreed to be acquired by PerkinElmer (NYSE: [[ticker:PKI]]), the giant life sciences toolmaker in Waltham, MA. Terms … Continue reading “Geospiza Sells to PerkinElmer, PATH Vaccine Nabs $100M, Halosource Gets China Approval, & More Seattle-Area Life Sciences News”

Varian Invests $15M in Augmenix

Palo Alto, CA-based Varian Medical Systems (NYSE: [[ticker:VAR]]), the supplier of radiation technology for treating cancer patients, said today it has agreed to make a $15 million equity investment in Waltham, MA-based Augmenix to obtain a minority ownership stake in the startup. Varian is also getting an exclusive option to acquire Augmenix if certain milestones … Continue reading “Varian Invests $15M in Augmenix”

Foundation Medicine Gets New CEO

Cambridge, MA-based Foundation Medicine, the developer of genomic-based cancer diagnostics, said today it has named Michael Pellini as its new CEO. Pellini was previously the president of Clarient, a unit of GE Healthcare. He replaces Alexis Borisy, a partner at Third Rock Ventures who was Foundation’s original CEO. Borisy will remain on Foundation Medicine’s board … Continue reading “Foundation Medicine Gets New CEO”

Matrix Genetics Pursues the Algae Fuel Dream in the Lab, Not With Big Steel Tanks, Giant Ponds

Margaret McCormick has been dreaming of ways to make microorganisms do big things since her grad school days in biology at MIT. Years later, the scientist-turned-venture capitalist is now in a position to act on those dreams as CEO of a Seattle-based startup called Matrix Genetics. The idea is about as big as startup visions … Continue reading “Matrix Genetics Pursues the Algae Fuel Dream in the Lab, Not With Big Steel Tanks, Giant Ponds”

SpringLeaf Snags $15M for New Self-Injection System for Biotech Drugs

The folks at SpringLeaf Therapeutics will not be accused of thinking too small. This quiet little company is stepping up today to declare its pursuit of a pretty bold idea—that it can deliver drugs that are not just safe and effective, but also more cost-effective for the U.S. healthcare system. SpringLeaf Therapeutics, formerly known as … Continue reading “SpringLeaf Snags $15M for New Self-Injection System for Biotech Drugs”

PATH Meningitis Vaccine Gets $100M

The GAVI Alliance, the Geneva, Switzerland-based global health organization, said today it has committed $100 million to support the use of a meningitis vaccine developed by Seattle-based PATH. The vaccine, MenAfriVac, was developed through a $70 million grant from the Bill & Melinda Gates Foundation, and a 10-year development effort. It has been widely used … Continue reading “PATH Meningitis Vaccine Gets $100M”

Acetylon Nabs $4.9M for Myeloma Drug

Boston-based Acetylon Pharmaceuticals said today it has formed a new alliance with the Leukemia & Lymphoma Society. Under the deal, the nonprofit research foundation will contribute as much as $4.85 million to help Acetylon run a Phase I/II clinical trial program for an experimental drug against multiple myeloma. Acetylon’s oral drug, ACY-1215, is a histone … Continue reading “Acetylon Nabs $4.9M for Myeloma Drug”

CardioDx Raises $60M

CardioDx, the Palo Alto, CA-based developer of blood-based genetic tests for cardiovascular disease, said today it has raised $60 million in equity financing. Longitude Capital, JP Morgan, Acadia Woods Partners, Artiman Ventures, and Bright Capital, the venture arm of RU-COM, participated in the round. CardioDx said it plans to use the cash to win greater … Continue reading “CardioDx Raises $60M”

Genentech, Plexxikon Seek FDA OK

Genentech, the South San Francisco-based unit of Roche, said it has filed an application with the FDA for clearance to start marketing a new skin cancer drug discovered by Berkeley, CA-based Plexxikon. The drug, vemurafenib (PLX4032), has shown an ability to extend lives of patients with patients with a specific form of melanoma. Genentech’s parent … Continue reading “Genentech, Plexxikon Seek FDA OK”

Halosource Secures Approval in China

Bothell, WA-based Halosource, the developer of technology to purify drinking water, said today it has secured formal approval from the Chinese Ministry of Health. Halosource said it is the first developer of clean drinking water technology to get approval from Chinese authorities under a new set of regulatory standards. The company said its China subsidiary … Continue reading “Halosource Secures Approval in China”

Boston Scientific Chief to Exit the Stage, Two Years Into Turnaround Bid; Shares Tank

Boston Scientific picked Ray Elliott as the change agent less than two years ago to help turn things around for the medical device giant, and now Elliott is on his way out. The Natick, MA-based company (NYSE: [[ticker:BSX]]) said today that Elliott, 61, informed the board of directors on May 4 that he plans to … Continue reading “Boston Scientific Chief to Exit the Stage, Two Years Into Turnaround Bid; Shares Tank”

Bill Gates on The Energy Challenge: Optimistic on Science & Business, but Not So Much on Politics

When people think of Bill Gates, they probably think one of two things. He’s either a hard-driving software mogul, or warm-hearted billionaire devoted to saving the poor. But what fewer people realize is that Seattle’s most famous son also spends a lot of his time thinking about, and investing in, clean energy technologies that he … Continue reading “Bill Gates on The Energy Challenge: Optimistic on Science & Business, but Not So Much on Politics”

Meritage Pharma Passes Key Test With Drug to Reduce Swelling of the Food Pipe

[Update: 11:30 am] San Diego-based Meritage Pharma set out a few years ago to develop a unique drug for people who suffer from a dangerous allergy that causes swelling and narrowing of the esophagus. Now it has some hard data to suggest that it’s on the right track. Meritage (pronounced MARE-uh-tazh) is announcing today that … Continue reading “Meritage Pharma Passes Key Test With Drug to Reduce Swelling of the Food Pipe”

What Kind of Taste Does Lee Hood Have for Interior Decoration? Get a Sense on May 19

There was a big ribbon cutting, and lots of back-slapping local politicians, when Merck officially opened up the fancy labs it built for Rosetta Inpharmatics in March 2004. Merck and Rosetta are long gone now—and so are most of the local officials, come to think of it—but the modern biomedical research center at 401 Terry … Continue reading “What Kind of Taste Does Lee Hood Have for Interior Decoration? Get a Sense on May 19”

Alkermes Acquires Elan Drug Manufacturing Unit for $960M

Alkermes has struck a big acquisition deal that vaults it into the club of “Big Biotech” companies it has long yearned to join. The Waltham, MA-based biotech company (NASDAQ: [[ticker:ALKS]]) is announcing today it has agreed to acquire Elan Drug Technologies, the chemical formulation and manufacturing unit of Ireland-based Elan (NYSE: [[ticker:ELN]]) in a deal … Continue reading “Alkermes Acquires Elan Drug Manufacturing Unit for $960M”

Why Are Drugs Getting Such Weird Brand Names?

Oddball product names are one of the occupational hazards of biotech writing. Drugs in particular can be hard to spell, and often hard to pronounce. While I can practically type telaprevir, telaprevir, telaprevir in my sleep at this point, I can almost feel the reader reaction when that scientific name flows from my keyboard. ZZZ…. … Continue reading “Why Are Drugs Getting Such Weird Brand Names?”

The Challenge of Financing Renewable Fuels: A Chat With James Dack of Stern Brothers

The cleantech industry has a million different technology ideas out there, and just about as many financing strategies. There are mom-and-pop companies raising cash from friends and family, there’s venture capital, government grants, big energy company partnerships, and huge projects such as wind farms or ethanol refineries that rely on deep pockets in private equity … Continue reading “The Challenge of Financing Renewable Fuels: A Chat With James Dack of Stern Brothers”

How Do You Like to Get Your Xconomy Content? Check Out Our New Look on Facebook

Facebook, for me at least, has mainly been about looking for newly updated photos of my two-year-old nephew who lives two time zones away in the Midwest. But I’m well aware this isn’t a mainstream point of view, and that many of the online social network’s 600 million global users really like to get their … Continue reading “How Do You Like to Get Your Xconomy Content? Check Out Our New Look on Facebook”

Pfizer Hands Back Rigel Drug

South San Francisco-based Rigel Pharmaceuticals (NASDAQ: [[ticker:RIGL]]) said today it that it will take over development of an experimental asthma drug, R343, after its partner, New York-based Pfizer (NYSE: [[ticker:PFE]]), decided to stop developing allergy and respiratory drugs. The treatment, an inhalable small molecule designed to inhibit a protein called syk, was licensed from Rigel … Continue reading “Pfizer Hands Back Rigel Drug”

PerkinElmer Acquires Geospiza, Beefing Up Software for DNA Analysis

Geospiza has been around the block a time or two in the bioinformatics business, and now after 14 years in the game, it has come to the end of the road. The Seattle-based company, which makes software for scientists who analyze data from genetic experiments, said today it has agreed to be acquired by Waltham, … Continue reading “PerkinElmer Acquires Geospiza, Beefing Up Software for DNA Analysis”

SeaGen Ends March With $456M Cash

Seattle Genetics (NASDAQ: [[ticker:SGEN]]), the developer of targeted cancer drugs, said today in its quarterly financial report that it ended March with $455.9 million of cash and investments in the bank. That’s up from $295 million in cash that it reported heading into this year. The increased cash reserves reflect the addition of $168 million … Continue reading “SeaGen Ends March With $456M Cash”

Geron Nabs $25M Loan from Stem Cell Agency, Paves Way for State Support of Clinical Trials

Geron is getting a big boost from the state of California stem cell agency to see if it can deliver the goods with an embryonic stem cell therapy for spinal cord injuries. The Menlo Park, CA-based company (NASDAQ: [[ticker:GERN]]) said it has been awarded $25 million from the California Institute for Regenerative Medicine (CIRM) to … Continue reading “Geron Nabs $25M Loan from Stem Cell Agency, Paves Way for State Support of Clinical Trials”

Vertex Signs Boston Lease

Cambridge, MA-based Vertex Pharmaceuticals will be known as Boston-based Vertex Pharmaceuticals in the not so distant future. The biotech company (NASDAQ: [[ticker:VRTX]]) said today it has signed a 15-year lease to occupy new labs and offices being built at Boston’s Fan Pier, according to a regulatory filing. The lease will take effect when the buildings … Continue reading “Vertex Signs Boston Lease”

General Fusion Adds $19.5M

General Fusion, the Burnaby, BC-based developer of nuclear power technology, said today it has raised $19.5 million in a Series B financing to build the first phase of a demonstration facility. The round included Cenovus Energy, Bezos Expeditions, Chrysalix Energy Venture Capital, GrowthWorks, Braemar Energy Ventures, Entrepreneurs Fund, Business Development Bank of Canada, and SET … Continue reading “General Fusion Adds $19.5M”

Crown Bioscience Nabs $29M

Crown Bioscience, a Santa Clara, CA-based cancer drug developer, said it has raised $28.8 million in a Series C venture financing. The deal was led by OrbiMed Advisors Caduceus Asia Partners Fund, Argonaut Private Equity, the CID Group, IBT, and CDIB Capital Investment. Existing shareholders Qiming Venture Partners and CRCI also participated. Orbimed’s Nancy Chang … Continue reading “Crown Bioscience Nabs $29M”

Kleiner Perkins’ Bet on a Concrete Stomach, The Gates Foundation’s Out-of-the-Box Ideas, & More Seattle-Area Life Sciences News

We had a grab bag of life sciences-related coverage this week, with a big device company acquisition, some wild ideas for global health, and a whole lot of focus on biofuels. —Kleiner Perkins Caufield & Byers never has done much investing in the Northwest from what I can tell, but this week I came across … Continue reading “Kleiner Perkins’ Bet on a Concrete Stomach, The Gates Foundation’s Out-of-the-Box Ideas, & More Seattle-Area Life Sciences News”

Blue Marble Energy Joins Ensemble Cast at Alternative Fuels Confab May 19

Oil, one of my college buddies who majored in chemical engineering once told me, is in everything. He was talking about not just the fuel that goes in your car, but also the petrochemicals in the laptop you type on, the chair you sit on, the clothes you wear, and the pharmaceuticals you take. Kelly … Continue reading “Blue Marble Energy Joins Ensemble Cast at Alternative Fuels Confab May 19”

The Big Science Challenge With Biofuel: A Chat with ISB’s Nitin Baliga

Talk to any biofuels entrepreneur, and you are likely to hear a passionate riff on why their technology trumps all the up-and-comers. Some, like San Diego-based Sapphire Energy, say you’ve got to harness free sunlight and the magic of photosynthesis, to grow oil-rich algae in open ponds at the scale of modern agriculture. Others, like … Continue reading “The Big Science Challenge With Biofuel: A Chat with ISB’s Nitin Baliga”

Cobalt Adds $20M for Biofuel Refinery

Cobalt Technologies, the Mountain View, CA-based maker of butanol from woody biomass sources, said it has raised $20 million in a Series D financing. The round was led by The Whittemore Collection, and included Pinnacle Ventures, Malaysian Life Sciences Capital Fund, VantagePoint Capital Partners, Life Sciences Partners, @Ventures, Harris & Harris, and Burrill and Company. it has … Continue reading “Cobalt Adds $20M for Biofuel Refinery”

Kleiner Perkins’ Organic Waste-to-Energy Play, Harvest Power, Bets $150M on Turning Compost Into Natural Gas

The team at Kleiner Perkins Caufield & Byers gets inundated with pitches from entrepreneurs who dream of winning support for their own big ideas. But once in a while, the big VC firm turns the tables by hatching the idea, crafting the business plan, and recruiting the founding management team to make it into a … Continue reading “Kleiner Perkins’ Organic Waste-to-Energy Play, Harvest Power, Bets $150M on Turning Compost Into Natural Gas”

What Do Amazon, Ezell’s, and Virginia Mason Have in Common? They Supply General Biodiesel

Biodiesel made from leftover kitchen grease isn’t going to wean the country off fossil fuels, but at least one Seattle-based company has shown there’s a market for this stuff, and enough local suppliers and customers to make this into a business. I’m happy to say that this organic waste-to-energy company, General Biodiesel, will be part … Continue reading “What Do Amazon, Ezell’s, and Virginia Mason Have in Common? They Supply General Biodiesel”

Dendreon Gets $28M Revenue in Q1

Seattle-based Dendreon (NASDAQ: [[ticker:DNDN]]), the maker of an immune-boosting therapy for prostate cancer, said today it generated $28.1 million in revenue in the quarter that ended March 30. Dendreon also said it had $15 million in sales in the month of April, which reflects its increased manufacturing capacity for making sipuleucel-T (Provenge) at a factory … Continue reading “Dendreon Gets $28M Revenue in Q1”

Kilimanjaro Energy Seeks to Pop Loose Trillions’ Worth of Underground Oil, Save the World

Four years ago when Ned David and his wife were thinking of starting a family, a realization hit. Why was he using his knowledge of chemistry and entrepreneurship to start biotech companies? Wasn’t there something more meaningful to do with his life than come up with a new diabetes drug or antibiotic? How about saving … Continue reading “Kilimanjaro Energy Seeks to Pop Loose Trillions’ Worth of Underground Oil, Save the World”

SeaGen FDA Deadline Set for Aug. 30

Seattle Genetics (NASDAQ: [[ticker:SGEN]]) said today that the FDA has agreed to provide a faster-than-usual six-month review of its application to start selling brentuximab vedotin (SGN-35) for the treatment of patients with Hodgkin’s disease and anaplastic large cell lymphoma. The agency now has until August 30 to decide whether the drug is ready for sale … Continue reading “SeaGen FDA Deadline Set for Aug. 30”

Considering a Career in Biotech? How About Trying Computer Science Instead

Sometimes biotech really feels like an industry in danger of being left behind. Take last Friday afternoon for example. I was at a networking reception at the University of Washington, chatting with undergraduates from all kinds of engineering fields about the job market. People were finding jobs, but nothing much to brag about, until I … Continue reading “Considering a Career in Biotech? How About Trying Computer Science Instead”

Appature Gets ‘Cool Vendor’ Kudo

Seattle-based Appature, the maker of software to help healthcare companies better connect with physicians, was named as a “cool vendor” in life sciences by market analyst Gartner. Appature got the kudo, Gartner said, because its software is helping pharma sales reps, who are stretched thin, to do a better job of reaching physicians, who increasingly … Continue reading “Appature Gets ‘Cool Vendor’ Kudo”

PacBio Goes Commercial, Tweet by Tweet from BayBio, VCs Turn Up the Heat on FDA, & More Bay Area Life Sciences News

One of the ambitious new players in the field of superfast/supercheap gene sequencing graduated from R&D mode into a commercial enterprise this week. The plot thickens in this competitive world… —The sequencing company in Menlo Park, CA, Pacific Biosciences (NASDAQ: [[ticker:PACB]]), had a coming out party this week when it said it has converted its … Continue reading “PacBio Goes Commercial, Tweet by Tweet from BayBio, VCs Turn Up the Heat on FDA, & More Bay Area Life Sciences News”

Turning Garbage Into Fuel, S4 Energy Joins Xconomy Lineup on May 19

Most people in the renewable fuel business will say that if you want to make ethanol, then corn is a lousy choice of raw material. The U.S. certainly has a lot of it, but corn is an inefficient source of energy, and it hogs up land that can be used to produce food. But what … Continue reading “Turning Garbage Into Fuel, S4 Energy Joins Xconomy Lineup on May 19”

Vertex Wins FDA Panel’s Recommendation for New Hepatitis C Drug

Vertex Pharmaceuticals’ bid for FDA approval of its new drug for hepatitis C has been treated by most observers as a slam dunk, and the company, as expected, nailed its high percentage shot on goal today. Cambridge, MA-based Vertex (NASDAQ: [[ticker:VRTX]]) received a unanimous 18-0 endorsement from an FDA advisory panel, which said the company’s … Continue reading “Vertex Wins FDA Panel’s Recommendation for New Hepatitis C Drug”

Gates Foundation Dishes Out Latest $100K Grants for ‘Out of the Box’ Global Health Ideas

You can liken the Bill & Melinda Gates Foundation to a giant mutual fund for global health, with a diversified portfolio like you might find at T. Rowe Price. The world’s largest philanthropy invests in some big, stable, blue-chip global health projects that are sort of like its version of IBM or Boeing stock, and … Continue reading “Gates Foundation Dishes Out Latest $100K Grants for ‘Out of the Box’ Global Health Ideas”

Zino Names Green Fund Finalists

The Zino Society said four finalists have emerged from its Zino Green Investment Forum earlier this week, who will go on to compete for a $50,000 investment. The finalists are Columbia Power Technologies, MyTown, Puralytics, and WISErg. The recipient of the Zino investment will be announced in 60 days.

GE Healthcare Buys Applied Precision

GE Healthcare, a unit of industrial giant General Electric (NYSE: [[ticker:GE]]), said today it has agreed to acquire Issaquah, WA-based Applied Precision for an undisclosed amount. Applied Precision makes super high resolution microscopes with software and data visualization tools for biomedical researchers. Applied Precision had $37 million in revenue in 2010, has been growing 20 … Continue reading “GE Healthcare Buys Applied Precision”

Indel Grabs $1.4M for Antibiotics

Vancouver, BC-based Indel Therapeutics, the developer of new antibiotics, is announcing today it has raised $1.4 million in a second round of financing. Morningside Ventures, MAD Ventures, and Quantum Pacific Capital participated in the deal. I last profiled Indel two years ago, as CEO Malcolm Kendall outlined the company’s strategy for pursuing novel biological targets, … Continue reading “Indel Grabs $1.4M for Antibiotics”