Seattle’s biotech industry has experienced what has to be considered a lost decade. Many of the region’s brightest stars of the 1990s—Immunex, Icos, Rosetta Inpharmatics, Corixa—ended up getting bought by companies in other places that ultimately axed hundreds of talented scientists and businesspeople. The jobs may not have all come back, but Seattle biotech has … Continue reading “Biotech’s Back in Seattle: Xconomy Forum to Convene Leaders of Dendreon, Seattle Genetics”
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.
Synosia Raises $30M, Strikes Deal With UCB Worth Up to $725M for Parkinson’s Drugs
Synosia Therapeutics made some waves in biotech today with a couple of deals that reflect its progress in developing new therapies for Parkinson’s disease. The company, with offices in South San Francisco and Basel, Switzerland, said today it has formed a partnership with Belgium-based UCB that could generate as much as $725 million in milestone … Continue reading “Synosia Raises $30M, Strikes Deal With UCB Worth Up to $725M for Parkinson’s Drugs”
NanoBio, U-M Nab $1.5M to Treat Combat Injuries
NanoBio, the Ann Arbor, MI-based company developing nanotech formulations of drugs and vaccines, said today it has been awarded a $1.5 million federal research grant along with the University of Michigan to study how to prevent burn wounds on the battlefield from getting dangerously infected. The grant, from the U.S. Department of Defense, will be … Continue reading “NanoBio, U-M Nab $1.5M to Treat Combat Injuries”
Halosource, Maker of Clean Water Technology, Raises $80M in London IPO
Halosource, the Bothell, WA-based maker of technology to purify drinking water in developing countries, has raised $80 million through an IPO on the London Stock Exchange. The company is taking in about $50 million in net proceeds, while certain shareholders sold their stakes to institutional investors for another $30 million, according to Halosource’s chief financial … Continue reading “Halosource, Maker of Clean Water Technology, Raises $80M in London IPO”
Appature Snaps Up Startup Attorney, Eric Koester, To Help Run Fast-Growing Operation
Seattle-based Appature has signed up more new customers in the last nine months than it did in its first two and a half years in business, combined. Growth at that pace can drown a small company if it doesn’t put the right people, and right processes, in place to keep the operation running smoothly. So … Continue reading “Appature Snaps Up Startup Attorney, Eric Koester, To Help Run Fast-Growing Operation”
ImmunoGen Gets $45M Upfront From Novartis To Make Souped Up Antibodies For Cancer
[Updated: 8:40 am Eastern] ImmunoGen has struck a lucrative new deal with Novartis to make antibody drugs for cancer that are more potent than what physicians have come to embrace over the past decade. Waltham, MA-based ImmunoGen (NASDAQ: [[ticker:IMGN]]) said today it will get a $45 million upfront payment from Novartis in exchange for the … Continue reading “ImmunoGen Gets $45M Upfront From Novartis To Make Souped Up Antibodies For Cancer”
Exelixis Nabs $60M Upfront, Potentially $505M More, From New Deal With Bristol-Myers
Exelixis may have had a rough moment this summer in its relationship with Bristol-Myers Squibb, but apparently the two companies still see a lot in common and no reason to break up. South San Francisco-based Exelixis (NASDAQ: [[ticker:EXEL]]) said today it has struck a new partnership in which it will get a $60 million upfront … Continue reading “Exelixis Nabs $60M Upfront, Potentially $505M More, From New Deal With Bristol-Myers”
Seattle Genetics, Millennium Nail 2nd Straight Trial With “Empowered Antibody” For Cancer
Seattle Genetics broke new ground in the field of cancer drug development last month, and now evidence is mounting from a second clinical trial that suggests it wasn’t a fluke. Seattle Genetics (NASDAQ: [[ticker:SGEN]]) and its partner, Cambridge, MA-based Millennium: The Takeda Oncology Company, are reporting today that 50 out of 58 patients (86 percent) … Continue reading “Seattle Genetics, Millennium Nail 2nd Straight Trial With “Empowered Antibody” For Cancer”
Gelesis, With Obesity Drug That Swells Up in Stomach, Helps Rats Eat Less
One of the more offbeat ideas in the obesity drug development business has gathered some new evidence to suggest it might someday help people lose weight. Boston-based Gelesis, the developer of a superabsorbent capsule designed to swell up in the stomach and make people feel full, said its treatment was able to help rats reduce … Continue reading “Gelesis, With Obesity Drug That Swells Up in Stomach, Helps Rats Eat Less”
La Jolla Institute Nabs $12.6M RNAi Grant
The La Jolla Institute for Allergy & Immunology said today it has received a $12.6 million federal grant to establish the first publicly funded center in San Diego dedicated to research on RNA interference. Scientists are excited about the possibilities of RNAi research because it holds potential to silence specific malfunctioning genes involved in disease, … Continue reading “La Jolla Institute Nabs $12.6M RNAi Grant”
Genentech’s Souped-Up Breast Cancer Drug Beats Original Herceptin in Head-to-Head Study
Genentech broke new ground with a targeted antibody drug for breast cancer in the late 1990s, and now it’s showing another sign that it may have surpassed the original. Researchers reported today on a study of 137 breast cancer patients who were randomly assigned to get the original trastuzumab (Herceptin) along with chemotherapy, or a … Continue reading “Genentech’s Souped-Up Breast Cancer Drug Beats Original Herceptin in Head-to-Head Study”
Bristol-Myers Almost Ready to Seal the Deal, Complete Takeover of ZymoGenetics
ZymoGenetics, one of the driving forces of Seattle biotech the past 30 years, is about to become a thing of the past. The pharmaceutical giant Bristol-Myers Squibb is putting the finishing touches on its acquisition of the Seattle-based biotech company (NASDAQ: [[ticker:ZGEN]]). Bristol announced today that 94.9 percent of the ZymoGenetics shareholders agreed to hand … Continue reading “Bristol-Myers Almost Ready to Seal the Deal, Complete Takeover of ZymoGenetics”
Onyx Delays FDA Push, Vega Aims High Against Diabetes, Stanford Biologist Goes Open Source, & More Bay Area Life Sciences News
This week the biotech beat served up its usual variety of news from the fields of cancer, diabetes, genomics, and stem cells. Catch up on any headlines you might have missed here. —Emeryville, CA-based Onyx Pharmaceuticals (NASDAQ: [[ticker:ONXX]]), the maker of cancer drugs, said this week it is delaying its application to seek FDA approval … Continue reading “Onyx Delays FDA Push, Vega Aims High Against Diabetes, Stanford Biologist Goes Open Source, & More Bay Area Life Sciences News”
Onyx Delays Cancer Drug Application as FDA Asks for More Data on Manufacturing
Some minor bad news came out this afternoon from Onyx Pharmaceuticals, and its lead drug candidate for patients with multiple myeloma. The Emeryville, CA-based drug developer said today it is delaying the new drug application for carfilzomib after FDA officials asked for more data to show it can manufacture larger commercial batches that are consistent … Continue reading “Onyx Delays Cancer Drug Application as FDA Asks for More Data on Manufacturing”
VentiRx, With Venti-Sized Ambition to Treat (and Maybe Prevent) Allergies, Passes First Big Test
Every corner drugstore carries cheap meds for allergies, and about 30 million people in the U.S. still suffer from the symptoms. But now VentiRx Pharmaceuticals, a small biotech with operations in Seattle and San Diego, has generated some intriguing data that suggests it might have found a completely new way to treat—and possibly prevent—allergies. VentiRx … Continue reading “VentiRx, With Venti-Sized Ambition to Treat (and Maybe Prevent) Allergies, Passes First Big Test”
Sage Attracts Bigwigs, Hutch Adds Immunotherapy Center, the Pro-Life Vaccine Firm, & More Seattle-Area Life Sciences News
We had an unusual grab bag of news and features this week from the Seattle biotech beat, from the worlds of genomics, cancer treatment, stem cells, vaccines, and medical devices. —Sage Bionetworks, the Seattle-based nonprofit seeking to kickstart an open source movement for biology, said it has secured commitments from a quartet of big-name biologists … Continue reading “Sage Attracts Bigwigs, Hutch Adds Immunotherapy Center, the Pro-Life Vaccine Firm, & More Seattle-Area Life Sciences News”
Stanford, UCSD Biologists Take Plunge Into Arpanet-Style Project With Sage Bionetworks
[Updated: 6:40 am Pacific] Stephen Friend had plenty of doubters last year when he quit a high-powered Big Pharma executive job to start a nonprofit seeking to spark an open source style movement for biology. One year later, the former chief of cancer research at Merck has pulled off another unlikely feat. He’s corralled four … Continue reading “Stanford, UCSD Biologists Take Plunge Into Arpanet-Style Project With Sage Bionetworks”
Where Will the Next Gleevec Come From? Xconomy Forum Looks At the Edge of Cancer R&D
The past decade of cancer research and development was mainly about getting targeted. Chemotherapy that kills all kinds of cells—cancerous and healthy—is still a mainstay of treatment, but more targeted cancer drugs like Roche’s bevacizumab (Avastin) and Novartis’ imatinib (Gleevec) finally broke through and fulfilled at least some of their promise. They showed drugs could … Continue reading “Where Will the Next Gleevec Come From? Xconomy Forum Looks At the Edge of Cancer R&D”
The Soapbox: RevenueLoan and Bonanza Join Ace Lineup at Xconomy’s VC Crossfire
We’re tapping into a hot issue at our next big Xconomy Forum, called “VC Crossfire” on October 28 at Amazon’s brand new South Lake Union headquarters. We’ve assembled a stellar cast of venture capitalists and entrepreneurs (Bob Nelsen, Tom Alberg, Martin Tobias, Chris Henney) to talk about something that affects everybody in the Northwest innovation … Continue reading “The Soapbox: RevenueLoan and Bonanza Join Ace Lineup at Xconomy’s VC Crossfire”
Novartis-backed Genomics Institute Names Martin Seidel as New Director, Replacing Peter Schultz
One of San Diego’s top biomedical research centers has a new boss. H. Martin Seidel, the longtime No. 2 official at the Genomics Institute of the Novartis Research Foundation (GNF), has been hired as the permanent replacement for founding director Peter Schultz. Seidel, who has served as interim director of GNF since Schultz stepped down … Continue reading “Novartis-backed Genomics Institute Names Martin Seidel as New Director, Replacing Peter Schultz”
VentiRx Cancer Drug Passes Early Trial
VentiRx Pharmaceuticals, the San Diego and Seattle-based drug developer, said today its experimental treatment for cancer passed its initial clinical trial in 33 patients. The drug, VTX-2337, was found to be safe and well-tolerated in the study and showed increasing signs of activity as doses escalated, the company said. The drug is designed to stimulate … Continue reading “VentiRx Cancer Drug Passes Early Trial”
Vivus Sells Erectile Treatment for $23.5M
Vivus (NASDAQ: [[ticker:VVUS]]), the Mountain View, CA-based developer of an obesity drug, said today it has sold its marketed treatment for erectile dysfunction. Lakewood, NJ-based Meda agreed to pay $23.5 million for the assets related to transurethral alprostadil (Muse). Meda has been business partners with Vivus in Europe since 2000, Vivus said. Selling the Muse … Continue reading “Vivus Sells Erectile Treatment for $23.5M”
Fred Hutch Wins $14M Grant to Establish Cancer Immunotherapy Trial Center
Seattle researchers have lived through the ups and downs of cancer immunotherapy, and now they are seizing a growing leadership position in the field. Martin “Mac” Cheever, a scientist at the Fred Hutchinson Cancer Research Center and the University of Washington, has been awarded a five-year, $14 million grant from the National Institutes of Health … Continue reading “Fred Hutch Wins $14M Grant to Establish Cancer Immunotherapy Trial Center”
Vega Therapeutics, With Roots in Michigan and San Diego, Aims High in Fight Against Diabetes
Classic elements of a big biotech story are brewing in a little startup in South San Francisco called Vega Therapeutics. There’s leading-edge science from big names at the University of Michigan and UC San Diego. A proven management team from the Bay Area. If everything comes together, there is potential to shake up the standard … Continue reading “Vega Therapeutics, With Roots in Michigan and San Diego, Aims High in Fight Against Diabetes”
Innovative Pulmonary Solutions Snags $3M to Treat Lung Diseases
Bellevue, WA-based Innovative Pulmonary Solutions has raised $3 million to pursue its vision of a new way of helping people with common lung disorders to breathe better. The company raised $3 million in new equity out of a financing round that could be worth as much as $8 million, according to a regulatory filing. The … Continue reading “Innovative Pulmonary Solutions Snags $3M to Treat Lung Diseases”
Sunesis Adds $15.5M
Sunesis Pharmaceuticals (NASDAQ: [[ticker:SNSS]]), the South San Francisco-based drug developer, said today it has raised $15.5 million in a new securities offering. The deal consists of shares of common stock and warrants to buy stock, Sunesis said. The cash will be used for the company’s pivotal clinical trial of vosaroxin, in combination with chemotherapy, for … Continue reading “Sunesis Adds $15.5M”
Embryonic Stem Cell Research Foe, Tracy Deisher, Seeks to Market Pro-Life Vaccines
The woman who helped bring the U.S. embryonic stem cell research enterprise to a standstill for a couple weeks this summer is also a Seattle biotech entrepreneur who wants to create what she calls the first pro-life vaccine company. Theresa “Tracy” Deisher, a Stanford-trained molecular physiologist, made national news in late August as one of … Continue reading “Embryonic Stem Cell Research Foe, Tracy Deisher, Seeks to Market Pro-Life Vaccines”
The Top 20 Tech & Biotech Stories From Xconomy San Francisco’s First Quarter
It’s hard to believe, but we have now closed the book on our first full quarter of publishing Xconomy San Francisco. It’s fair to say that a little over three months ago, Wade and I were a teensy bit fired up about this new opportunity to cover the world capital of innovation. How are we … Continue reading “The Top 20 Tech & Biotech Stories From Xconomy San Francisco’s First Quarter”
Seattle Genetics’ Home Run, Acucela Growing Ties to Japan, Calistoga’s Wall Street Guy, & More Seattle-Area Life Sciences News
This was the week that one of the mainstays of Seattle biotech, after a dozen years, confirmed that it has developed its first drug with real commercial legs. —Seattle Genetics (NASDAQ: [[ticker:SGEN]]), the company mentioned above, released some truly remarkable data from the pivotal trial of its “empowered antibody” for Hodgkin’s disease. This drug, brentuximab … Continue reading “Seattle Genetics’ Home Run, Acucela Growing Ties to Japan, Calistoga’s Wall Street Guy, & More Seattle-Area Life Sciences News”
Amazon’s Top Techie, Werner Vogels, on How Web Services Follows the Retail Playbook
Amazon.com doesn’t like being labeled simply as an e-retail company. To understand the trajectory it has taken over 15 years, and where it’s going in the future, one of the company’s senior executives says, you need to look at how it uses technology as a means to serve customers in retail and in business. “Amazon, … Continue reading “Amazon’s Top Techie, Werner Vogels, on How Web Services Follows the Retail Playbook”
ZymoGenetics Melanoma Drug Shows Survival Data, Adding More Juice to Bristol’s Pipeline
ZymoGenetics has some shareholders out there wondering if the company has agreed to be acquired by Bristol-Myers Squibb for too low of a price. Today there’s a small, but potentially important piece of data that might make a few more investors pause about whether now is really the time to sell. The Seattle-based biotech company … Continue reading “ZymoGenetics Melanoma Drug Shows Survival Data, Adding More Juice to Bristol’s Pipeline”
Rigel Nabs $25M From AstraZeneca
Rigel Pharmaceuticals (NASDAQ: [[ticker:RIGL]]), the South San Francisco-based biotech company, said today it has received a $25 million milestone payment from its partner, AstraZeneca, in connection development of the experimental drug fostamatinib (R788) for rheumatoid arthritis. AstraZeneca has begun a pivotal clinical trial of the new drug, Rigel said. Data from a mid-stage study of … Continue reading “Rigel Nabs $25M From AstraZeneca”
Sanford-Burnham Gets $21M Grant
The Sanford-Burnham Medical Research Institute said today it has received a five-year grant renewal, worth more than $21 million through 2015, from the National Cancer Institute. The renewal represents a 21 percent budget increase over the prior grant, the institute said. “The significant budget increase we received is a tremendous honor and a reflection of … Continue reading “Sanford-Burnham Gets $21M Grant”
Calistoga Hires Public Company CFO
Seattle-based Calistoga Pharmaceuticals said today it has hired Andrew Guggenhime as its new chief financial officer. Guggenhime has an extensive network on Wall Street, after spending a decade as the chief financial officer of public biotech companies, including Facet Biotech (NASDAQ: [[ticker:FACT]]) and PDL Biopharma (NASDAQ: [[ticker:PDLI]]). Hiring a CFO with public company experience shouldn’t … Continue reading “Calistoga Hires Public Company CFO”
MIT Cancer Research Star Tyler Jacks Takes Closing Keynote Role at Xconomy Forum
We like to sweeten the pot around here, adding world-class speakers to our Xconomy Forums every chance we get. And today I’m psyched to announce that Tyler Jacks, a world-renowned scientist and director of the David H. Koch Institute for Integrative Cancer Research at MIT, will be joining us as the closing keynote speaker at … Continue reading “MIT Cancer Research Star Tyler Jacks Takes Closing Keynote Role at Xconomy Forum”
NextBio Finds Profit at Intersection Between Public and Private Genomic Data
Bioinformatics was a buzzword at the beginning of the genomic era about a decade ago, but it has become a dirty word today. It’s sort of like shorthand for a highly fragmented cottage industry that seeks to analyze biological data, in which no one seems to make money. But whatever you want to call it, … Continue reading “NextBio Finds Profit at Intersection Between Public and Private Genomic Data”
Amira Files to Start Clinical Trial
San Diego-based Amira Pharmaceuticals, the developer of treatments for lung diseases, said today it has filed an application to the FDA to start clinical trials of a new drug for fibrotic disorders. The company is seeking to run tests in healthy volunteers on AM152, an experimental blocker of a target called LPA1.
Acucela, Strengthening Ties With Japan’s Otsuka, Gets Right to Develop New Glaucoma Drug
[Corrected: 9 am Pacific] Little biotech companies usually discover new drugs, and hand them off for development to a Big Pharma company with cash and expertise in running clinical trials. But one of the Seattle area’s little biotech companies, Acucela, is doing the exact opposite, and doing it in a profitable way. Seattle-based Acucela is … Continue reading “Acucela, Strengthening Ties With Japan’s Otsuka, Gets Right to Develop New Glaucoma Drug”
Seattle Genetics, Millennium Generate “Dream” Data With Empowered Antibody Drug for Cancer
Seattle Genetics is making history today, after a dozen years of effort, with groundbreaking clinical trial results in the field of cancer drugs. The results pave the way for the first successful “empowered antibody” drug for cancer, and a new therapy for people who have run out of options for fighting Hodgkin’s disease. The Bothell, … Continue reading “Seattle Genetics, Millennium Generate “Dream” Data With Empowered Antibody Drug for Cancer”
Oncothyreon Raises $14.9M
Oncothyreon (NASDAQ: [[ticker:ONTY]]), the Seattle-based developer of cancer drugs, said today it has raised $14.9 million through a private placement transaction. The company sold 4.24 million securities units (a combination of common stock and warrants) at $3.50 apiece. That represents a 7.2 percent discount to the 30-day trailing average stock price, Oncothyreon said. JMP Securities … Continue reading “Oncothyreon Raises $14.9M”
Cytomx Pockets $30M, AvidBiotics Eyes Food Safety Market, Rigel Passes Arthritis Trial, & More Bay Area Life Sciences News
We had the usual wide variety of stories this week from the worlds of antibody drugs, antibiotics, medical devices, and oral small molecules. Get caught up here. —The Bay Area has a new player in the world of antibody drugs—Cytomx Therapeutics. This company, founded in February 2008 in Santa Barbara, CA, is primed to move … Continue reading “Cytomx Pockets $30M, AvidBiotics Eyes Food Safety Market, Rigel Passes Arthritis Trial, & More Bay Area Life Sciences News”
Alnylam Cuts 25-30% of Workforce, As Novartis Alliance Ends
Cambridge, MA-based Alnylam Pharmaceuticals is facing some big cuts now that one of its major partners is going its separate way. Alnylam (NASDAQ: [[ticker:ALNY]]) said today it is planning to cut about 25 to 30 percent of its workforce. The move came after one of Alnylam’s big partners, Novartis, effectively brought a five-year alliance to … Continue reading “Alnylam Cuts 25-30% of Workforce, As Novartis Alliance Ends”
Rigel Arthritis Drug Passes Trial
Rigel Pharmaceuticals (NASDAQ: [[ticker:RIGL]]), the South San Francisco-based biotech company, reported that its oral pill for rheumatoid arthritis was able to help patients who responded poorly to standard treatment with methotrexate. About two-thirds (67 percent) of patients on a twice-daily 100 milligram dose of fostamatinib (R788) saw at least a 20 percent improvement in the … Continue reading “Rigel Arthritis Drug Passes Trial”
Cytomx, Backed by Third Rock & Roche, Raises $30M for New Class of Antibodies
The Bay Area has a new player in antibody drug development, backed with some big bucks from the world’s largest maker of antibody drugs. CytomX Therapeutics is announcing today it has raised $30 million in a Series B venture round led by Third Rock Ventures, along with Roche Venture Fund. While CytomX is currently based … Continue reading “Cytomx, Backed by Third Rock & Roche, Raises $30M for New Class of Antibodies”
Lee Hartwell’s Next Career Move, Swedish’s Social Media Ace, Cell Therapeutics’ Lifeline, & More Seattle-Area Life Sciences News
This week, I profiled a person in his 70s and someone in her 20s. It really reminded me how covering the life science innovation beat leads to a lot of fascinating people at different stages of their careers. —Lee Hartwell, the Nobel Prize-winning biologist who is stepping down as president of the Fred Hutchinson Cancer … Continue reading “Lee Hartwell’s Next Career Move, Swedish’s Social Media Ace, Cell Therapeutics’ Lifeline, & More Seattle-Area Life Sciences News”
Tekmira Gets $5.8M from Hana
Tekmira Pharmaceuticals, the Vancouver, BC-based company with technology to deliver RNA-based therapies in the body, said it has amended a licensing agreement with South San Francisco-based Hana Biosciences. Tekmira has agreed to accept a $5.75 million payment from Hana now, while agreeing to accept lower milestone payments from product candidates later. Tekmira has also agreed … Continue reading “Tekmira Gets $5.8M from Hana”
Swedish’s Young Social-Media Ace Coaches Docs in the Ways of the Web
Dana Lewis, at 22, found a job telling doctors what to do. It has nothing to do with deciding which diagnostic test to run, what drug to prescribe, or how much they can bill for an MRI. It has everything to do with how physicians can better communicate with patients over the Web in the … Continue reading “Swedish’s Young Social-Media Ace Coaches Docs in the Ways of the Web”
AvidBiotics Creates Novel Proteins that Kill Bacteria on the Farm, in the Lab, in the Body
Dave Martin is one of the people in biotech who has truly seen it all. In the ’80s, the industry’s early days, he was head of R&D at Genentech. His latest passion, which he’s pursuing with business partner Jim Knighton, is taking shape at a lean startup in South San Francisco called AvidBiotics. Their wager … Continue reading “AvidBiotics Creates Novel Proteins that Kill Bacteria on the Farm, in the Lab, in the Body”
Smartsheet Raises New Cash, Amazon Bets on Cirtas, RealNetworks Buys Backstage, & More Seattle-Area Deals News
Thea is taking some time off, so that means the biotech guy in the house has to write up the weekly tech roundup. I’ll try not to say anything too dumb. —Bellevue, WA-based Smartsheet, the developer of software to help people collaborate on projects, raised $1.5 million in a new equity round led by Madrona … Continue reading “Smartsheet Raises New Cash, Amazon Bets on Cirtas, RealNetworks Buys Backstage, & More Seattle-Area Deals News”
Lee Hartwell, at 70, Tackles Personalized Medicine, Education in Latest Career Phase
Lee Hartwell would be excused if he wanted to rest on his laurels at the age of 70 and enjoy the sort of retirement that you read about in personal finance magazines. Instead, he’s now setting out to do the most ambitious things of his career. He wants to change the way the world thinks … Continue reading “Lee Hartwell, at 70, Tackles Personalized Medicine, Education in Latest Career Phase”