Cell Therapeutics (NASDAQ: [[ticker:CTIC]]), the Seattle-based developer of cancer drugs, said today it has filed an application for approval to start selling a new lymphoma drug in the European Union. The company is asking the European Medicines Agency to allow sales of pixantrone (Pixuvri) to adult patients with relapsed forms of non-Hodgkin’s lymphoma. The company’s … Continue reading “Cell Therapeutics Seeks EU Approval”
Author: Luke Timmerman
Vivus Turned Down by FDA
Vivus (NASDAQ: [[ticker:VVUS]]), the Mountain View, CA-based obesity drug developer, failed to win FDA clearance to start selling its combination drug in the U.S. The agency, in a complete response letter to the company, requested a “comprehensive assessment” on whether the Vivus therapy, a combination of phentermine and topiramate (Qnexa), is linked to birth defects … Continue reading “Vivus Turned Down by FDA”
PacBio’s $200M IPO, Ablexis’ 5-Way Big Pharma Deal, Codexis Morphs Into $100M Business, & More Bay Area Life Sciences News
This week, the life sciences tool industry grabbed a rare opportunity to take the spotlight away from its better known counterpart the biopharmaceutical business. —Menlo Park, CA-based Pacific Biosciences (NASDAQ: [[ticker:PACB]]) made the biggest headline this week when it pulled the trigger on a $200 million IPO that gave it a beginning market cap of … Continue reading “PacBio’s $200M IPO, Ablexis’ 5-Way Big Pharma Deal, Codexis Morphs Into $100M Business, & More Bay Area Life Sciences News”
UW Building $20M Fund to Back University Startups, Following the “Utah Model”
The University of Washington is in the final stages of putting together a $20 million investment fund, backed by wealthy individuals and foundations, that will rely heavily on business students to spin more startups out of university labs, Xconomy has learned. The new source of capital, called the Husky Bridge Investment Fund, has received commitments … Continue reading “UW Building $20M Fund to Back University Startups, Following the “Utah Model””
PacBio IPO, Not Exactly the Netscape Moment of 2010, But a Win for Genomics
The Pacific Biosciences IPO was an important deal yesterday for more reasons than one. The Menlo Park, CA-based company (NASDAQ: [[ticker:PACB]]) not only was able to raise $200 million yesterday through an initial public offering in the middle of its expected range, but it established a lofty $800 million market valuation by life sciences industry … Continue reading “PacBio IPO, Not Exactly the Netscape Moment of 2010, But a Win for Genomics”
Omeros Nabs $25M from Paul Allen and the State, Immune Design Strikes 1st Big Deal, & More Seattle-Area Life Sciences News
A couple of sizable deals crossed the Seattle biotech news desk this week, and one of the Northwest’s main venture firms eagerly awaited its first IPO in a long time. —Omeros (NASDAQ: [[ticker:OMER]]), the Seattle biotech company, pulled in $25 million through an unusual deal that pooled $20 million from billionaire Paul Allen’s Vulcan Capital … Continue reading “Omeros Nabs $25M from Paul Allen and the State, Immune Design Strikes 1st Big Deal, & More Seattle-Area Life Sciences News”
Meet Xconomy’s Tech Editors, Wade Roush and Greg Huang, Friday in Seattle
We’ve been having a lot of fun with our informal Xconomy Meetups, and now I really have a good excuse to do another one. Xconomy’s chief correspondent and San Francisco editor, Wade Roush, and Boston editor Greg Huang—who many of you know well from his two-year run as editor of this bureau—will both be in … Continue reading “Meet Xconomy’s Tech Editors, Wade Roush and Greg Huang, Friday in Seattle”
Codexis Morphs From Big Science Project Into $100M Business
Enzymes make the world go around, if you spend much time listening to biochemists. Now one of the emerging players in the business of engineering industrial enzymes, Redwood City, CA-based Codexis, is starting to show it can make those biological workhorse proteins into something else important—money. Codexis (NASDAQ: [[ticker:CDXS]]) made headlines back in April when … Continue reading “Codexis Morphs From Big Science Project Into $100M Business”
PacBio Raises $200M Through IPO for Fast, Cheap Gene Sequencing Tools
Pacific Biosciences found a pretty strong appetite from investors who want a piece of the future of super-fast, cheap genomic sequencing. Menlo Park, CA-based PacBio has raised $200 million through its initial public offering, settling on a price of $16 a share, smack in the middle of its $15 to $17 expected range. The deal … Continue reading “PacBio Raises $200M Through IPO for Fast, Cheap Gene Sequencing Tools”
Corengi Seeks to Bring Clinical Trial Information Into the World of Web 2.0
Punch the search term “Type 2 diabetes” into the main public website for clinical trials, and you’ll find more than 1,000 ongoing studies. That might be a wealth of information if you are an endocrinologist looking to get up to speed on the latest and greatest therapies. But to patients, it’s mostly a vast wilderness … Continue reading “Corengi Seeks to Bring Clinical Trial Information Into the World of Web 2.0”
Complete Genomics Sets IPO Price Range
Complete Genomics, the low-cost gene sequencing company in Mountain View, CA, has set a goal of pricing 6 million shares in its initial public offering at a price of $12 to $14, according to a filing today with the Securities and Exchange Commission. If the company can find demand from investors at the top of … Continue reading “Complete Genomics Sets IPO Price Range”
Countdown to VC Crossfire: Get Ready for Sparks to Fly on Thursday
We are chomping at the bit here at Xconomy Seattle about our next big event, circled in magic marker on my white board. This is the gathering we’re calling “VC Crossfire,” coming Thursday evening at Amazon’s new headquarters in Seattle’s South Lake Union neighborhood. This event will bring together a fearsome foursome of some of … Continue reading “Countdown to VC Crossfire: Get Ready for Sparks to Fly on Thursday”
Ablexis Cuts Deal With Pfizer, Four Other Pharmas, For Antibody Drug Discovery Tool
Ablexis didn’t force its investors to wait very long to see some returns. The San Francisco-based biotech company is announcing today it has struck an unusual deal to provide its antibody drug discovery technology to five big drugmakers simultaneously, as an alternative way to generate returns without waiting around for the unlikely event of an … Continue reading “Ablexis Cuts Deal With Pfizer, Four Other Pharmas, For Antibody Drug Discovery Tool”
ATyr Pharma Pockets $23M to Create New Class of Protein Drugs, and New Targets
One of the more audacious biotech startups in San Diego just got a big vote of confidence at a moment when few companies of its kind are getting any sort of respect. San Diego-based aTyr Pharma has pulled in $23 million in its Series C round of venture financing, led by Domain Associates. aTyr’s existing … Continue reading “ATyr Pharma Pockets $23M to Create New Class of Protein Drugs, and New Targets”
Immune Design Snags $212M Deal With MedImmune To Provide Vaccine Booster
Immune Design has struck its first big deal with a Big Pharma company. The Seattle-based vaccine developer has agreed to provide a license to an immune-boosting compound, called an adjuvant, to the MedImmune unit of London-based AstraZeneca. The pharma giant plans to use the compound as a key ingredient in potent new vaccines it has … Continue reading “Immune Design Snags $212M Deal With MedImmune To Provide Vaccine Booster”
Phenomix, Former Highflying Diabetes Drugmaker, Shuts Down After Forest Labs Walks
San Diego-based Phenomix is history. The one-time highflying IPO candidate has shut down its operations, laid off essentially all of its 45 employees, and only has a skeleton crew left attempting to find someone to continue developing its lead drug candidate for diabetes, Xconomy has learned. Phenomix went out of business about three weeks ago, … Continue reading “Phenomix, Former Highflying Diabetes Drugmaker, Shuts Down After Forest Labs Walks”
Grab a Beer With Me and Chris Rivera Tuesday at Xconomy Meetup
The Xconomy Meetup was an experiment last month. Now I reckon it’s time to replicate the experiment. Tomorrow afternoon, Xconomy readers are welcome to break away from the lab or the desk to come join me and special guest Chris Rivera of the Washington Biotechnology & Biomedical Association for an informal meetup-style event. Regular Xconomy … Continue reading “Grab a Beer With Me and Chris Rivera Tuesday at Xconomy Meetup”
Omeros Nabs $25M from Paul Allen, State Life Sciences Fund to Pursue Elusive Drug Targets
Seattle-based Omeros has raked in $25 million for its drug discovery technology from a couple of unusual suspects—billionaire Paul Allen and Washington state’s Life Sciences Discovery Fund. Omeros (NASDAQ: [[ticker:OMER]]) is collecting $20 million from Allen’s investment operation, Vulcan Capital, along with a $5 million grant from the state fund that aspires to spur more … Continue reading “Omeros Nabs $25M from Paul Allen, State Life Sciences Fund to Pursue Elusive Drug Targets”
Antigenics, and its UCSF Champion, Stick With Immune Booster For Brain Cancer
Antigenics could easily have thrown in the towel on its immune boosting therapy for cancer. But now the Lexington, MA-based biotech company, with the help of one of its main backers at UC San Francisco, is gearing up to run a significant trial to see if its lead therapy has a shot as a treatment … Continue reading “Antigenics, and its UCSF Champion, Stick With Immune Booster For Brain Cancer”
Arena Obesity Drug Fails to Win FDA Approval, May Need More Clinical Testing
Arena Pharmaceuticals (NASDAQ: [[ticker:ARNA]]) sent out some devastating news around midnight Pacific time on Friday. The San Diego-based biotech company, after about a dozen years of effort and $1 billion of investment, said the FDA had turned down its application to market a new drug to help people in the U.S. lose weight. Arena cited … Continue reading “Arena Obesity Drug Fails to Win FDA Approval, May Need More Clinical Testing”
Dendreon CEO at WBBA Meeting: State Should Reject Income Tax, Inspire Young Scientists
Dendreon CEO Mitch Gold has said for years that he wants to make his company the anchor tenant for Seattle biotech. Now that his company has had a breakout success, he’s clearly got the full attention of 700 members of the biotech community who met this morning, wanting to know what can be done to … Continue reading “Dendreon CEO at WBBA Meeting: State Should Reject Income Tax, Inspire Young Scientists”
Aastrom Maps Out Pivotal Trial Strategy With Adult Stem Cell Therapy
Biotech is one of the most regulated businesses on the planet, so it’s clear that if Aastrom Biosciences is going to get anywhere, it had better have a good strategy for working with U.S. drug regulators. This week, the Ann Arbor, MI-based company took a couple of important steps in the direction that investors like … Continue reading “Aastrom Maps Out Pivotal Trial Strategy With Adult Stem Cell Therapy”
Exelixis Seeks to Exit Doghouse, Sangamo Morphs Into Drugmaker, Siluria Adds $13M, & More Bay Area Life Sciences News
This week we ran a couple of features about Bay Area biotechs known as scientific hothouses, which have been testing the patience of investors who want them to become real drugmakers. —Mike Morrissey, the CEO of South San Francisco-based Exelixis (NASDAQ: [[ticker:EXEL]]), talked about how he’s been trying to get the company “out of the … Continue reading “Exelixis Seeks to Exit Doghouse, Sangamo Morphs Into Drugmaker, Siluria Adds $13M, & More Bay Area Life Sciences News”
Biogen, Genentech Revamp Alliance
Weston, MA-based Biogen Idec (NASDAQ: [[ticker:BIIB]]) and South San Francisco-based Genentech said today they are restructuring an alliance to co-develop new antibodies against CD20, the same cellular target of the hit cancer drug rituximab (Rituxan). Under the amended partnership, Genentech will pay the full costs of developing ocrelizumab for multiple sclerosis, and keep most of … Continue reading “Biogen, Genentech Revamp Alliance”
Intellectual Ventures’ Med-Tech Foray, PATH Takes Ultra Rice to Africa, Mirador Gets FDA OK, & More Seattle-Area Life Sciences News
We had a hodgepodge of news this week on the biotech scene, with financings, an FDA approval, and an exclusive feature on what Nathan Myhrvold’s invention shop is doing in the medical device business. Get caught up here. —Cell Therapeutics (NASDAQ: [[ticker:CTIC]]), the Seattle-based cancer drug developer, raised $21 million through the sale of preferred … Continue reading “Intellectual Ventures’ Med-Tech Foray, PATH Takes Ultra Rice to Africa, Mirador Gets FDA OK, & More Seattle-Area Life Sciences News”
Cell Therapeutics Adds $21M
Cell Therapeutics (NASDAQ: [[ticker:CTIC]]), the Seattle-based developer of cancer drugs, said today it has raised $21 million through a securities offering to four institutional investors. The investors will get preferred stock worth the equivalent of 56.7 million shares of common stock, and warrants to buy another 22.7 million shares of common stock. Cell Therapeutics struck … Continue reading “Cell Therapeutics Adds $21M”
Amylin, Alkermes Shares Crash on Surprise FDA Smackdown
Investors are fuming today about the surprise rejection of the once-weekly diabetes drug developed by San Diego-based Amylin Pharmaceuticals (NASDAQ: [[ticker:AMLN]]), drug giant Eli Lilly, and Waltham, MA-based Alkermes (NASDAQ: [[ticker:ALKS]]). Amylin has the most at stake, and is taking the biggest hit today after news broke about the FDA’s refusal to approval exenatide once-weekly … Continue reading “Amylin, Alkermes Shares Crash on Surprise FDA Smackdown”
PATH Snags $1M Federal Grant to Take Ultra Rice to Africa
One of the cool projects that PATH has been working on for years to put a dent in global malnutrition just got a significant boost in the place it could have its biggest impact—Africa. PATH, the global health hothouse with headquarters in Seattle, is announcing today it has received a $1 million grant from the … Continue reading “PATH Snags $1M Federal Grant to Take Ultra Rice to Africa”
CalciMedica Charges Ahead Toward First Human Test of Oral Pill for Psoriasis
One of the interesting new ideas in the treatment of autoimmune disease is approaching a critical turning point at San Diego-based CalciMedica. This little company, so close to the ocean you can smell it from the CEO’s office window, is based in part on some intriguing science that got its start at the Immune Disease … Continue reading “CalciMedica Charges Ahead Toward First Human Test of Oral Pill for Psoriasis”
Exelixis Seeks to Climb From the Penalty Box, Prove its Lead Drug Still Has Legs
Mike Morrissey had plenty of headaches when he took over as CEO of South San Francisco-based Exelixis (NASDAQ: [[ticker:EXEL]]). Two weeks before he took the job, Bristol-Myers Squibb (NYSE: [[ticker:BMY]]) dropped a bomb by saying it was walking away from its 50 percent ownership stake in Exelixis‘ most important cancer drug candidate. CEO George Scangos … Continue reading “Exelixis Seeks to Climb From the Penalty Box, Prove its Lead Drug Still Has Legs”
Amylin, Alkermes Once-Weekly Diabetes Drug Fails to Win FDA Approval
Bad news out tonight for followers of San Diego-based Amylin Pharmaceuticals, drug giant Eli Lilly, and Waltham, MA-based Alkermes. The new diabetes drug that all three companies have been counting on as a future revenue driver—the once-weekly injectable version of exenatide (Bydureon)—failed to win clearance from the FDA as a new treatment available for sale … Continue reading “Amylin, Alkermes Once-Weekly Diabetes Drug Fails to Win FDA Approval”
Calistoga Starts Mid-Stage Trial
Calistoga Pharmaceuticals, the Seattle-based developer of cancer drugs, said today it has started a mid-stage clinical trial of its lead drug candidate for patients with chronic lymphocytic leukemia or small lymphocytic lymphoma. The trial is expected to enroll 65 patients who will get a twice-daily dose of Calistoga’s CAL-101 oral pill in combination with eight … Continue reading “Calistoga Starts Mid-Stage Trial”
Andy Sack, the Jack of All Startup Trades, Joins VC Crossfire Panel Oct. 28
There might not be anyone else in Seattle pursuing more tech startup ideas, through more different financial avenues, than Andy Sack. He’s one of the key players at three organizations that seek to invest and help foster more high-impact tech companies in Seattle—Founder’s Co-op, TechStars, and RevenueLoan. And now he’s agreed to share his latest … Continue reading “Andy Sack, the Jack of All Startup Trades, Joins VC Crossfire Panel Oct. 28”
OncoGenex Raises $50M
OncoGenex Pharmaceuticals (NASDAQ: [[ticker:OGXI]]), the Bothell, WA-based developer of cancer drugs, said today it has raised $50 million through a new securities offering. The company sold a little more than 3.1 million securities units, with each unit made up of one share, and half of a warrant to buy more shares in the future. The … Continue reading “OncoGenex Raises $50M”
Pearl Therapeutics Gets $69M
Pearl Therapeutics, a Redwood City, CA-based developer of treatments for chronic respiratory diseases, said today it has raised $69 million in a Series C venture financing. The investment was led by Vatera Healthcare Partners, and included Clarus Ventures, New Leaf Ventures and 5AM Ventures. The company plans to use the cash to complete a mid-stage … Continue reading “Pearl Therapeutics Gets $69M”
Siluria, Based on MIT Research, Raises $13.3M For Cleaner, Cheaper Plastics
Siluria Technologies, the San Francisco startup developing a low-emissions technique for making the world’s most widely used commodity chemical in plastics, has raised its first big venture round to pursue an idea that has eluded the petrochemical industry for decades. The company, built on technology from Angela Belcher’s materials science lab at MIT, is announcing … Continue reading “Siluria, Based on MIT Research, Raises $13.3M For Cleaner, Cheaper Plastics”
Geospiza Adds Montgomery to Board
Geospiza, the Seattle-based maker of software for biological analysis, is announcing today that veteran drug developer Bruce Montgomery is joining its board of directors. Montgomery recently stepped down as senior vice president of respiratory drugs at Gilead Sciences, four years after he sold Seattle-based Corus Pharma to Gilead for $365 million. Geospiza’s chairman, Gordon Gardiner, … Continue reading “Geospiza Adds Montgomery to Board”
Aastrom Gets FDA Fast Track Status, Gears Up for Pivotal Study of Cell Therapy
Aastrom Biosciences is gearing up for a definitive test of a first-of-its-kind regenerative medicine that uses adult stem cells. The Ann Arbor, MI-based biotech company said today it has gotten the FDA’s “fast track” designation for its pivotal clinical trial plan of a treatment that it hopes will help people with severe cardiovascular disease to … Continue reading “Aastrom Gets FDA Fast Track Status, Gears Up for Pivotal Study of Cell Therapy”
Intellectual Ventures’ Latest Big Push: Turning Med-Tech Inventions Into Cash
Nathan Myhrvold is a physicist who made his name as a software guy at Microsoft. So it’s natural to think that if his Bellevue, WA-based invention firm, Intellectual Ventures, creates anything of lasting value, it will probably come from physics or software. Maybe it will be something really offbeat (fighting infectious disease with mosquito-zapping lasers), … Continue reading “Intellectual Ventures’ Latest Big Push: Turning Med-Tech Inventions Into Cash”
Sangamo, With a Lock on Genetic Switch Technology, Seeks to Morph Into Drugmaker
Quite a few biotech entrepreneurs would be happy to trade places with Sangamo Biosciences founder and CEO Ed Lanphier. His company has a hammerlock on the intellectual property for a leading-edge genetic technology that a lot of academic scientists love to write about in top peer-reviewed journals like Nature. Big partners like Dow Chemical and … Continue reading “Sangamo, With a Lock on Genetic Switch Technology, Seeks to Morph Into Drugmaker”
Anadys Raises $25M
Anadys Pharmaceuticals (NASDAQ: [[ticker:ANDS]]), the San Diego-based developer of a treatment for hepatitis C, said today it has raised about $25 million through a stock offering. The company sold about 13.9 million shares at $1.80 apiece. Lazard Capital Markets managed the deal.
Mirador Biomedical Wins FDA Approval for Tool to Prevent Dangerous Hospital Errors
Seattle’s medical device community has another member of the commercial club—a company that found a way to reach the marketplace after less than two years of work and with only a little more than $1 million of investment. Mirador Biomedical, the startup with a digital sensor that can tell the difference when a syringe pokes … Continue reading “Mirador Biomedical Wins FDA Approval for Tool to Prevent Dangerous Hospital Errors”
Amylin, Alkermes Eagerly Await FDA Verdict (Again) For Once-Weekly Diabetes Drug
Back in March, it was “pins and needles” time at San Diego-based Amylin Pharmaceuticals (NASDAQ: [[ticker:AMLN]]) and Waltham, MA-based Alkermes (NASDAQ: [[ticker:ALKS]]). Now these two companies are getting that prickly feeling again. Both biotech companies are eagerly awaiting word from the FDA on whether the agency will allow the first once-weekly injectable diabetes drug for … Continue reading “Amylin, Alkermes Eagerly Await FDA Verdict (Again) For Once-Weekly Diabetes Drug”
Exelixis Gets $60M from Bristol, Genentech Surpasses Original Herceptin, Synosia Pockets $30M, & More Bay Area Life Sciences News
News on cancer drugs, stem cells, and the rare item about promising drugs for Parkinson’s disease crossed our desk this week. —South San Francisco-based Exelixis (NASDAQ: [[ticker:EXEL]]) rebounded a bit from its rough summer when it said this week it has raked in a $60 million payment through a new partnership with Bristol-Myers Squibb. Back … Continue reading “Exelixis Gets $60M from Bristol, Genentech Surpasses Original Herceptin, Synosia Pockets $30M, & More Bay Area Life Sciences News”
Cell Biosciences Nabs $20M, Buys Convergent
Cell Biosciences, a Santa Clara, CA-based maker of life sciences instruments, supplies and software, said it has raised $20 million in a Series F venture round in connection with a $12 million acquisition of Toronto, Canada-based Convergent Bioscience. The investment was led by Essex Woodlands Health Ventures, and included existing investors such as The Wellcome … Continue reading “Cell Biosciences Nabs $20M, Buys Convergent”
Omeros Addiction Program Wins NIH Grant
Seattle-based Omeros (NASDAQ: [[ticker:OMER]]) said today that the National Institutes of Health has provided a four-year, $3.6 million grant to support mid-stage clinical trials of the company’s experimental anti-addiction drugs. The trials will examine whether the new drugs can help people suffering from addiction to opioid-based painkillers, nicotine, and alcohol, as well as compulsive behaviors … Continue reading “Omeros Addiction Program Wins NIH Grant”
Mike Huckman, Former CNBC Reporting Ace, Joins Stellar Lineup at Boston’s War on Cancer
Pretty much anyone who makes a living in the pharmaceutical and biotech business, and has turned on CNBC in the past decade, knows the name Mike Huckman. He reported on the biggest developments in the cancer drug development field in those years, telling the stories of groundbreaking therapies like Eli Lilly’s Erbitux, Roche’s Avastin, and … Continue reading “Mike Huckman, Former CNBC Reporting Ace, Joins Stellar Lineup at Boston’s War on Cancer”
Seattle Genetics Nails 2nd Trial, Bristol Clinches Zymo Buyout, Halosource Goes Public, & More Seattle-Area Life Sciences News
One of Seattle’s biotech mainstay companies had an unceremonious ending this week, while another took a step ahead toward national prominence. —New York-based pharma giant Bristol-Myers Squibb (NYSE: [[ticker:BMY]]) said this week that it had essentially clinched its takeover of Seattle-based ZymoGenetics (NASDAQ: [[ticker:ZGEN]]) by purchasing 95 percent of the company’s shares at $9.75 apiece. … Continue reading “Seattle Genetics Nails 2nd Trial, Bristol Clinches Zymo Buyout, Halosource Goes Public, & More Seattle-Area Life Sciences News”
Fate Therapeutics Snags Deal With Becton Dickinson to Market Stem Cell Technology
Fate Therapeutics, after months of hunting, has found a deep-pocketed partner to take its stem cell technology mainstream, at least for academic and pharmaceutical industry labs. The San Diego-based startup—founded by scientific big shots at Harvard University, Stanford University, The Scripps Research Institute, and the University of Washington—is announcing later today that it has struck … Continue reading “Fate Therapeutics Snags Deal With Becton Dickinson to Market Stem Cell Technology”
San Diego’s Mini-Cluster of Virtual Biotechs Without Labs on High Bluff Drive
One fascinating geographic pattern jumped out at me on my last visit to San Diego a couple weeks ago. More and more of my meetings with biotech leaders are occurring in places other than Torrey Pines Mesa, the regional heart of science and home to UC San Diego, The Scripps Research Institute, the Sanford-Burnham Medical … Continue reading “San Diego’s Mini-Cluster of Virtual Biotechs Without Labs on High Bluff Drive”