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.

Alnylam CEO John Maraganore On Corporate Near-Termism, and Restoring Faith in RNAi

Alnylam Pharmaceuticals, one of the bright lights on the Boston biotech scene, has suddenly found itself getting almost zero value for its technology on Wall Street. It’s a shocking thing to say about the Cambridge, MA-based company (NASDAQ: [[ticker:ALNY]]), considered to be a leader in RNA interference technology. This, after all, is a hot field … Continue reading “Alnylam CEO John Maraganore On Corporate Near-Termism, and Restoring Faith in RNAi”

Calistoga Rolls Out More Evidence For Blood Cancer Drug, Sizes Up Pivotal Trial

Calistoga Pharmaceuticals has been stirring up buzz at medical meetings for more than a year about how its experimental treatment is shrinking tumors for patients with certain blood cancers that resist other therapies. And today the Seattle-based company is showing still more evidence that strengthens the medical case for its drug, as the tumor shrinkage … Continue reading “Calistoga Rolls Out More Evidence For Blood Cancer Drug, Sizes Up Pivotal Trial”

Seattle Genetics, Millennium Report Groundbreaking Results With Drug for Hodgkin’s

Seattle Genetics is reporting today on a batch of clinical trial results that represent a watershed moment for the company, its technology for creating “empowered antibodies” against cancer, and which could provide a new source of hope for patients with Hodgkin’s disease. The company (NASDAQ: [[ticker:SGEN]]) and its partner, Cambridge, MA-based Millennium: The Takeda Oncology … Continue reading “Seattle Genetics, Millennium Report Groundbreaking Results With Drug for Hodgkin’s”

San Diego’s Fight Against Diabesity: Can Investors Make Money, and Can Startups Still Thrive?

San Diego might be the world’s leading center for “diabesity” R&D, and since this represents two of the most common public health threats today (diabetes and obesity), logic would say this ought to be a great thing for the local biotech cluster. Yet anyone who follows healthcare headlines knows that times have never been tougher … Continue reading “San Diego’s Fight Against Diabesity: Can Investors Make Money, and Can Startups Still Thrive?”

Pearl Therapeutics Beats $3B Lung Drug, Anacor’s Flat IPO, Medtronic Buys Ardian for $800M, & More Bay Area Life Sciences News

Thanksgiving got in the way of last week’s biotech roundup, so this week I’m reaching a little further back in the archive for stories you may have missed. —Redwood City, CA-based Pearl Therapeutics raised $69 million in venture capital last month, and now we can see why. The company showed, in a small clinical trial, … Continue reading “Pearl Therapeutics Beats $3B Lung Drug, Anacor’s Flat IPO, Medtronic Buys Ardian for $800M, & More Bay Area Life Sciences News”

Receptos Hires New CEO, Former Facet Leader, as Rastetter Moves Upstairs

Receptos, the San Diego-based startup with an eye toward capturing super high-res images of an important class of new drug targets, has found itself a new CEO from the Bay Area who happened to sell his last company to Abbott Laboratories for $722 million. Faheem Hasnain, the former chief executive of Redwood City, CA-based Facet … Continue reading “Receptos Hires New CEO, Former Facet Leader, as Rastetter Moves Upstairs”

Millennium, Banking on Velcade and More, Gears Up for Eagerly Anticipated Blood Cancer Meeting

Each spring, everybody and their brother in biotech goes to the American Society of Clinical Oncology (ASCO) annual meeting to check out the hot new stuff in cancer drug development. But for Cambridge, MA-based Millennium: The Takeda Oncology Company, the bigger medical meeting is coming up this weekend, where a whole string of clinical trials … Continue reading “Millennium, Banking on Velcade and More, Gears Up for Eagerly Anticipated Blood Cancer Meeting”

Accelerator’s East Coast Foray, Gates Foundation Bets on RSV Vaccine, UW Sues GE, & More Seattle-Area Life Sciences News

Two of the key players in Seattle life sciences formed interesting new connections to the Eastern time zone this week. —Accelerator, the venture-backed biotech startup nurturer in Seattle, made its first new investment in a company with East Coast roots. The company, Acylin Therapeutics, is built on the vision of a Boston biotech entrepreneur, and … Continue reading “Accelerator’s East Coast Foray, Gates Foundation Bets on RSV Vaccine, UW Sues GE, & More Seattle-Area Life Sciences News”

UW Sues GE, Accusing Industrial Giant of Infringing Patent on Ultrasound Technology

[Updated: 4:05 pm] The University of Washington has filed a federal lawsuit against General Electric, in which the university is accusing the industrial giant of infringing on patented technology that is helping GE make major strides in the market for next-generation diagnostic ultrasound machines. UW filed its complaint against GE (NYSE: [[ticker:GE]]) earlier this week … Continue reading “UW Sues GE, Accusing Industrial Giant of Infringing Patent on Ultrasound Technology”

Quanterix Adds Former Millipore CEO as Chair

Cambridge, MA-based Quanterix is announcing today that Martin Madaus, the former CEO of Billerica, MA-based Millipore, has joined the startup’s board as executive chairman. Millipore, a giant supplier of diagnostics and lab equipment to biotech companies, was acquired by Germany-based Merck KGaA for about $7 billion in July. By joining Quanterix, he’s getting on board … Continue reading “Quanterix Adds Former Millipore CEO as Chair”

Pearl Therapeutics, Fresh Off Big VC Round, Tops $3B Lung Drug in Head-to-Head Trial

Pearl Therapeutics bagged a whopping $69 million venture round last month, and now it’s pretty clear why. The Redwood City, CA-based biotech company is reporting clinical trial results today that show its inhalable drug for chronic obstructive pulmonary disease worked better than standard Tiotropium (Spiriva), a $3 billion annual seller for Pfizer and Boehringer Ingelheim. … Continue reading “Pearl Therapeutics, Fresh Off Big VC Round, Tops $3B Lung Drug in Head-to-Head Trial”

Accelerator Reaches Out to East Coast to Find Latest Startup, Acylin Therapeutics

Accelerator, Seattle’s best known hotspot for hatching biotech startups, has found its latest idea for a new company on the East Coast. Most of Accelerator’s investments of the past have come from its West Coast network, but the youngest pup in the litter at the Seattle-based startup machine, Acylin Therapeutics, is based on the vision … Continue reading “Accelerator Reaches Out to East Coast to Find Latest Startup, Acylin Therapeutics”

Biotech’s Back in Seattle: Photo Gallery

Thanks to everyone who helped make “Biotech’s Back in Seattle,” the latest production of Xconomy Seattle, such a smash hit. We sold out this puppy, packing the house at PATH last night with more than 200 people for an evening of insightful conversation and lively networking. The featured speakers were a couple of Seattle’s top … Continue reading “Biotech’s Back in Seattle: Photo Gallery”

Optimer Seeks Quick Green Light From FDA for Antibiotic Against Deadly Bug

San Diego-based Optimer Pharmaceuticals has spent more than $200 million and a dozen years of effort to get to the point where it can ask the FDA to clear its first product for sale on the U.S. market. And that’s the position Optimer finds itself in now. Optimer (NASDAQ: [[ticker:OPTR]]) is announcing today that it … Continue reading “Optimer Seeks Quick Green Light From FDA for Antibiotic Against Deadly Bug”

NanoBio Nabs $6M from Gates Foundation for Nasal Spray Vaccine

NanoBio, the Ann Arbor, MI-based developer of new vaccine formulations made to be more potent and easy to deliver, has snapped up a $6 million grant from the Seattle-based Bill & Melinda Gates Foundation. The money will help fund development of the first nasal spray vaccine against one of the most common bugs that causes … Continue reading “NanoBio Nabs $6M from Gates Foundation for Nasal Spray Vaccine”

See You Tonight at “Biotech’s Back in Seattle”

I’m getting ready for one of Xconomy’s biggest events of the year—“Biotech’s Back in Seattle“—which will be held tonight at PATH’s new headquarters in South Lake Union. More than 200 people have snapped up tickets so far, and only six seats are left at the time I’m writing this. So if you missed the last … Continue reading “See You Tonight at “Biotech’s Back in Seattle””

Glaxo Buys $129M in Theravance Stock

Theravance (NASDAQ: [[ticker:THRX]]), the South San Francisco-based biotech company, said today that pharmaceutical giant GlaxoSmithKline has agreed to buy $129.4 million worth of Theravance stock. Glaxo agreed to buy 5.75 million shares at $22.50 apiece—so it will now have about a 19 percent ownership stake in Theravance. The companies have been partners since 2002, and … Continue reading “Glaxo Buys $129M in Theravance Stock”

Intarcia Bets It Will Shake Up Diabetes Treatment With Implantable Device

[Corrected: 11:15 pm Pacific, 11/29/10] Diabetes is supposed to be one of the biggest public health threats facing the U.S. over the next decade, yet if you talk to anybody developing drugs for this chronic disease, times have never been tougher. So how can Kurt Graves, the executive chairman at Hayward, CA-based Intarcia Therapeutics, sound … Continue reading “Intarcia Bets It Will Shake Up Diabetes Treatment With Implantable Device”

Anacor Pharma Prices IPO at $5 a Share, Down from $16 to $18 Forecast

There is still a bearish market for biotech IPOs, but Palo Alto, CA-based Anacor Pharmaceuticals is the latest company to show that it was willing to plow ahead and accept that sentiment. Anacor (NASDAQ: [[ticker:ANAC]]) said today it agreed to sell 12 million shares at $5 apiece, raising a total of $60 million through its … Continue reading “Anacor Pharma Prices IPO at $5 a Share, Down from $16 to $18 Forecast”

BG Medicine Wins FDA OK, Primes Pump for Second Shot at IPO

BG Medicine, the Waltham, MA-based diagnostics company, said it has received FDA clearance for its lead product in development, a new test to measure the progress of patients with chronic heart failure. This is certainly the kind of news that can’t hurt for a company that’s trying to pull off an IPO, for the second … Continue reading “BG Medicine Wins FDA OK, Primes Pump for Second Shot at IPO”

Only a Few Tickets Left for Xconomy “Biotech’s Back in Seattle” Event on Nov. 29

Traveling around the country as Xconomy’s national life sciences editor, people sometimes give me funny looks when I say I’m from Seattle. Often, I hear something to the effect of, “Does Seattle even have a biotech industry?” Yes, it does. And even though most local politicians and media stopped talking about it a few years … Continue reading “Only a Few Tickets Left for Xconomy “Biotech’s Back in Seattle” Event on Nov. 29″

Dendreon Commercial Guy Leaves, Light Sciences CEO Exits, Amgen Wins FDA OK, & More Seattle-Area Life Sciences News

This was a short holiday week, and so we have an appropriately short biotech roundup. —Seattle-based Dendreon (NASDAQ: [[ticker:DNDN]]) said last week that its top sales and marketing executive, Varun Nanda, left the company effectively immediately. Nanda was hired back in April to lead the market introduction of Dendreon’s first product, sipuleucel-T (Provenge), and stayed … Continue reading “Dendreon Commercial Guy Leaves, Light Sciences CEO Exits, Amgen Wins FDA OK, & More Seattle-Area Life Sciences News”

Amira Cuts Half of Staff, Scientific Founders Exit as Company Seeks to Conserve Cash

San Diego-based Amira Pharmaceuticals has cut half of its workforce and its trio of scientific founders have left the company as it seeks to conserve cash over the next two years, Xconomy has learned. The company is shrinking down to 25 employees, and the cuts are being concentrated primarily in discovery research and administration, as … Continue reading “Amira Cuts Half of Staff, Scientific Founders Exit as Company Seeks to Conserve Cash”

Medtronic Buys Ardian for $800M Upfront, Grabs Novel Treatment for High Blood Pressure

It didn’t take Ardian long to cash in once it showed the world what it really has come up with for the treatment of high blood pressure. Medical device giant Medtronic (NYSE: [[ticker:MDT]]) said it has agreed to pay $800 million upfront, plus commercial milestone payments through 2015, to acquire Mountain View, CA-based Ardian. Medtronic … Continue reading “Medtronic Buys Ardian for $800M Upfront, Grabs Novel Treatment for High Blood Pressure”

Omeros Adds Discovery Technology

Omeros (NASDAQ: [[ticker:OMER]]), the Seattle-based biotech company, said today it has completed its acquisition of drug discovery technology from Toronto-based Patobios. The assay technology from Patobios is supposed to help Omeros design new drugs against targets known as G-protein coupled receptors. The GPCR program is thought to be promising because many of the world’s top … Continue reading “Omeros Adds Discovery Technology”

Vertex Seeks FDA Green Light for Hepatitis C Drug; Chomps at the Bit For Fast Review

Vertex Pharmaceuticals has spent 15 years working to reinvent the way hepatitis C infection is treated, and now the fruits of that labor are in the hands of the U.S. Food and Drug Administration. Cambridge, MA-based Vertex (NASDAQ: [[ticker:VRTX]]), which has West Coast operations in San Diego, is announcing today that it has filed its … Continue reading “Vertex Seeks FDA Green Light for Hepatitis C Drug; Chomps at the Bit For Fast Review”

The Fight Against Diabesity: How Will San Diego Adapt in the Era of Tough FDA Scrutiny?

Two out of three Americans are now said to be overweight or obese, and about 25 million people have chronic Type 2 diabetes that’s often caused by unhealthy diets and a lack of exercise. Taken together, these two related conditions are sometimes called “diabesity,” a rising public health scourge. Anyone who develops drugs to safely … Continue reading “The Fight Against Diabesity: How Will San Diego Adapt in the Era of Tough FDA Scrutiny?”

Light Sciences Oncology CEO Exits for New Job; Company Still Waiting for Pivotal Results

The CEO of Light Sciences Oncology, the Bellevue, WA-based company developing a first-of-its-kind drug/device combo therapy for cancer, has left to take a new job running another biotech firm, Xconomy has learned. Llew Keltner’s name has been taken down from Light Sciences Oncology’s website, and Keltner personally confirmed the move in a phone call Friday … Continue reading “Light Sciences Oncology CEO Exits for New Job; Company Still Waiting for Pivotal Results”

Boston Scientific Acquires Sadra for $193M Upfront, Gets Device To Fix Heart Valves

Boston Scientific just made a move into one of the fields of cardiology with growth potential by acquiring Los Gatos, CA-based Sadra Medical. The Natick, MA-based device giant (NYSE: [[ticker:BSX]]) already owns 14 percent of Sadra, and today said it is paying $193 million upfront to acquire the rest of the company, and may shell … Continue reading “Boston Scientific Acquires Sadra for $193M Upfront, Gets Device To Fix Heart Valves”

Roche Cutting Hundreds of Jobs, Exelixis Shares Soar, Sutro Pockets $36.5M, & More Bay Area Life Sciences News

Quite a few folks at Genentech won’t have so much to be thankful for at this year’s Thanksgiving, as a wave of job cuts swept through South San Francisco. —Roche, the Switzerland-based pharmaceutical giant that took full control of South San Francisco-based Genentech in March 2009, announced a sweeping series of 4,800 job cuts and … Continue reading “Roche Cutting Hundreds of Jobs, Exelixis Shares Soar, Sutro Pockets $36.5M, & More Bay Area Life Sciences News”

Amgen Wins FDA OK For Cancer Drug

Amgen (NASDAQ: [[ticker:AMGN]]), the world’s largest biotech company, said today it has won clearance from the FDA to start marketing denosumab (Xgeva) to reduce fractures in cancer patients with solid tumors that have spread to the bones. This is the second major approved use of the drug, which was first cleared in June as a … Continue reading “Amgen Wins FDA OK For Cancer Drug”

Exelixis Shares Soar on Cancer Results

Exelixis (NASDAQ: [[ticker:EXEL]]), the South San Francisco-based developer of cancer drugs, saw its shares climb 32 percent to $6.23 today after reporting on clinical trial results for its lead product candidate against prostate cancer. The company reported that 19 out of 20 patients who got its experimental XL184 treatment had at least partial clearance of … Continue reading “Exelixis Shares Soar on Cancer Results”

Dendreon’s Commercial Point Man Exits In Year One of Provenge Launch

[Update: 4:15 pm Pacific] One of the key people at Dendreon (NASDAQ: [[ticker:DNDN]]) who was hired to make its new prostate cancer drug a success is out of a job after less than a year. Seattle-based Dendreon said today in a regulatory filing that Varun Nanda has left the company effective immediately. Nanda, Dendreon’s senior … Continue reading “Dendreon’s Commercial Point Man Exits In Year One of Provenge Launch”

Ballmer Will Say Adios, IPOs Will Return, Amazon Will Crack $200: Predictions for 2011 From WTIA Panel

Microsoft, desperate to become a real player in mobile, will do something bold like acquire Finnish wireless giant Nokia. CEO Steve Ballmer will ride off into the sunset. Amazon’s stock could soar to over $200 a share. As the great Yogi Berra once said, it’s tough to make predictions, especially about the future. Yet, with … Continue reading “Ballmer Will Say Adios, IPOs Will Return, Amazon Will Crack $200: Predictions for 2011 From WTIA Panel”

Dendreon Survives Medicare Panel, Arch’s Ouch, RNAi Shock Wave Hits Tekmira, & More Seattle-Area Life Sciences News

Seattle’s hot biotech company of the moment survived an unusual public hearing this week that could have put a serious crimp in its ability to sell its drug. —Seattle-based Dendreon (NASDAQ: [[ticker:DNDN]]) dodged a bullet at a public hearing this week held by the Centers for Medicare and Medicaid Services. The government-run health insurance plan … Continue reading “Dendreon Survives Medicare Panel, Arch’s Ouch, RNAi Shock Wave Hits Tekmira, & More Seattle-Area Life Sciences News”

Paul Allen Donates $9M for Edgy Neuroscience, Biotech Projects at MIT, Stanford, UW

Paul Allen, the billionaire co-founder of Microsoft, has been investing in biotech companies and basic neuroscience for many years, and now he’s set up a new program to put more money to work for scientists pushing the boundaries in those fields. The Seattle-based Paul G. Allen Family Foundation is announcing today it is bankrolling seven … Continue reading “Paul Allen Donates $9M for Edgy Neuroscience, Biotech Projects at MIT, Stanford, UW”

Dendreon Passes Medicare Panel’s Questions About Provenge Effectiveness

Dendreon followers can breathe a sigh of relief. A panel of physicians and researchers who advise the federal Medicare agency expressed an intermediate amount of confidence that the Seattle biotech company’s immune-booster for prostate cancer extends lives. The vote, at a public hearing today held by the Centers for Medicare and Medicaid Services, is a … Continue reading “Dendreon Passes Medicare Panel’s Questions About Provenge Effectiveness”

Roche Cuts to Hit Hundreds of Genentech Workers; Scientific Staff is Spared

Roche made big news in the pharmaceutical business today when it said it is cutting 4,800 jobs as part of a major restructuring plan. And, no surprise, hundreds of those job cuts are coming from its biggest U.S. asset, South San Francisco-based Genentech. About 350 to 450 people in Genentech’s manufacturing group in South San … Continue reading “Roche Cuts to Hit Hundreds of Genentech Workers; Scientific Staff is Spared”

Roche Dumps RNAi, Sends Shock Waves Through Alnylam, Tekmira

The world’s biggest spender on pharmaceutical R&D, Switzerland-based Roche, made news today with a sweeping series of cutbacks, and the ripple effect is extending to leading biotech companies in New England and the Pacific Northwest—including Cambridge, MA-based Alnylam Pharmaceuticals and Vancouver, BC-based Tekmira Pharmaceuticals. Roche said today it is terminating its efforts to discover and … Continue reading “Roche Dumps RNAi, Sends Shock Waves Through Alnylam, Tekmira”

Sutro Biopharma Grabs $36.5M in Venture Deal to Make “Biobetters”

The buzzphrase “biobetter” is starting to catch on, and South San Francisco-based Sutro Biopharma is the latest to cash in on the trend, as one of the companies hoping to develop drugs with nifty new properties that were never seriously considered before. Sutro is announcing today it has raised $36.5 million in a Series C … Continue reading “Sutro Biopharma Grabs $36.5M in Venture Deal to Make “Biobetters””

Ardian Corrals Out-of-Control High Blood Pressure With First-of-its-Kind Device

There are plenty of cheap and effective drugs out there for lowering high blood pressure. But Ardian, a small device company in Mountain View, CA, is presenting some intriguing clinical trial results today that suggest it might have developed something that works when all else fails. Ardian’s treatment was tested in a study of 106 … Continue reading “Ardian Corrals Out-of-Control High Blood Pressure With First-of-its-Kind Device”

C3 Jian Names Todd Patrick CEO

Todd Patrick, the former president of Vancouver, BC and Bothell, WA-based ID Biomedical, has been named the new CEO of Los Angeles-based C3 Jian. The company is developing selective antibacterial and antifungal treatments, as well as drugs for disorders of mineralization, and reversing hair loss. Patrick, the chairman of the board at the Seattle Biomedical … Continue reading “C3 Jian Names Todd Patrick CEO”

Clarian Wins GE Ecomagination Award

Clarian Power, a Seattle-based company that enables consumers to plug a solar power generator into a home electrical outlet, has won the Consumer Innovation Award that’s part of the GE Ecomagination Challenge. Clarian’s SmartBox Solar Module was picked from more than 3,000 entries. The prize is “a huge validation,” said Chad Maglaque, Clarian founder and … Continue reading “Clarian Wins GE Ecomagination Award”

Dendreon Prepares to Take Some Heat in the Other Washington Over Cancer Drug Prices

Cancer drugs cost a lot, and don’t work very well for most people. Not surprisingly, this is at least part of the reason there’s a popular backlash against drugmakers. And tomorrow, we’re going to see some unusual political theater that could say a lot about how cancer drugs get priced in the future. Seattle-based Dendreon … Continue reading “Dendreon Prepares to Take Some Heat in the Other Washington Over Cancer Drug Prices”

Helicos Delisted from Nasdaq

Helicos Biosciences, the Cambridge, MA-based developer of gene sequencing instruments, has been delisted from the NASDAQ stock market, after noting in a regulatory filing that it was unlikely to meet listing requirements “due to the state of its finances and near-term business prospects.” Last month, Helicos named Ivan Trifunovich as its new CEO, and expanded … Continue reading “Helicos Delisted from Nasdaq”

Verastem, Founded by MIT Big Names, Raises $16M to Fight Cancer Stem Cells

Robert Weinberg and Eric Lander, two of the most famous biologists at MIT, are putting their heads together at a new biotech company that seeks to fight cancer by attacking cancer stem cells. The startup, Verastem, has raised $16 million in its Series A venture financing, the company announced today. Longwood Founders Fund—the group led … Continue reading “Verastem, Founded by MIT Big Names, Raises $16M to Fight Cancer Stem Cells”

Anthera, On a Lean Budget, Seeks to Tap Big Heart Attack Market By Blocking Inflammation

Big Pharma giants are gathering in Chicago this week to wine and dine doctors at the American Heart Association’s Scientific Sessions, hoping docs will keep prescribing their multi-billion dollar heart drugs. Not many little biotechs can compete in this league, but Hayward, CA-based Anthera Pharmaceuticals is hoping to lay some groundwork for a new drug … Continue reading “Anthera, On a Lean Budget, Seeks to Tap Big Heart Attack Market By Blocking Inflammation”