This week, we saw more than the usual number of venture deals on the Seattle life sciences beat. Maybe the VCs needed to tie up some loose ends before unplugging in the month of August. —Seattle-based Immune Design snagged the big round of the week, a full $32 million Series B deal that included ProQuest … Continue reading “Immune Design Pockets $32M, InDi Nails $10M, SonoSite Looks Inside My Carotids, & More Seattle-Area Life Sciences News”
Author: Luke Timmerman
Luke is an award-winning journalist specializing in life sciences. He has served as national biotechnology editor for Xconomy and national biotechnology reporter for Bloomberg News. Luke got started covering life sciences at The Seattle Times, where he was the lead reporter on an investigation of doctors who leaked confidential information about clinical trials to investors. The story won the Scripps Howard National Journalism Award and several other national prizes. Luke holds a bachelor’s degree in journalism from the University of Wisconsin-Madison, and during the 2005-2006 academic year, he was a Knight Science Journalism Fellow at MIT.
Dendreon Gets Published in NEJM
Dendreon (NASDAQ: [[ticker:DNDN]]), the Seattle-based developer of immune-boosting therapies for cancer, said today that the New England Journal of Medicine has published results from the study of 512 men with prostate cancer that led to the FDA approval of sipuleucel-T (Provenge). The study showed Provenge could extend lifespan with minimal side effects back in April … Continue reading “Dendreon Gets Published in NEJM”
Marina Gets RNAi Delivery Tools for $5M
Marina Biotech (NASDAQ: [[ticker:MRNAD]]), the Bothell, WA-based company formerly known as MDRNA, has acquired intellectual property rights to a variety of RNA interference drug delivery technologies from Germany-based Novosom. Marina agreed to provide $5 million worth of its common stock in exchange for rights to use Novosom’s liposomal-particle delivery system that’s supposed to get RNA-silencing … Continue reading “Marina Gets RNAi Delivery Tools for $5M”
HemaQuest Raises $4M More, Boosting VC Round to $16M for Sickle Cell, Blood Disorders
Another few months have gone by, and another few million bucks have arrived in the corporate treasury for HemaQuest Pharmaceuticals. The Seattle-based developer is announcing today it has raised $4 million for its experimental treatments for sickle cell anemia and other blood disorders. The financing comes from a new investor, Latterell Venture Partners. This latest … Continue reading “HemaQuest Raises $4M More, Boosting VC Round to $16M for Sickle Cell, Blood Disorders”
Illumina Acquires Helixis for Up to $105M, To Get Small, Low-Cost Genetic Analysis Tool
San Diego-based Illumina has acquired an intriguing startup from southern California with a vision of putting low-cost genetic analysis systems on every biologist’s benchtop. Illumina (NASDAQ: [[ticker:ILMN]]), the leading maker of high-speed gene sequencing instruments, said today in its second-quarter financial report, and in a separate statement, that it has acquired Carlsbad, CA-based Helixis for … Continue reading “Illumina Acquires Helixis for Up to $105M, To Get Small, Low-Cost Genetic Analysis Tool”
Solazyme, Founded on ‘Delusional’ Idea of Algae Biofuel, Stakes Claim as Industry’s First Mover
Two teenagers arrived at Emory University in Atlanta as freshmen in 1989, and within days, they hit upon a “delusional” idea: starting a biotech company. Two decades later, it’s become a lot less delusional, as Jonathan Wolfson and Harrison Dillon have built South San Francisco-based Solazyme into one of the nation’s leading contenders in the … Continue reading “Solazyme, Founded on ‘Delusional’ Idea of Algae Biofuel, Stakes Claim as Industry’s First Mover”
Immune Design Follows Corixa Playbook, Sees Data, Deals on the Horizon in Year Three
Steve Reed is following a tried-and-true road map for building a biotech company. First year, build the team. Second year, gather some data to support the founding idea. Third year, prove it in clinical trials. Then start coaxing Big Pharma to open up its checkbook and do deals. “This is when it gets exciting,” Reed … Continue reading “Immune Design Follows Corixa Playbook, Sees Data, Deals on the Horizon in Year Three”
Gilead Borrowing $2.2B
Gilead Sciences (NASDAQ: [[ticker:GILD]]), the world’s largest maker of HIV medications, said today it plans to sell $2.2 billion in debt securities that can potentially be converted into equity stakes. Half of the debt comes due in 2014, while the other half is due to be paid back in 2016. The company said it plans … Continue reading “Gilead Borrowing $2.2B”
Immune Design Nabs $32M for Targeted Vaccines
Seattle-based Immune Design has raised $32 million to develop a new generation of vaccines. It’s the second big round for the company, founded in 2008 with an $18 million investment. The latest financing was led by ProQuest Investments, and included Immune Design’s previous investors—The Column Group, Versant Ventures, and Alta Partners. The new investment is … Continue reading “Immune Design Nabs $32M for Targeted Vaccines”
Onyx Preps for Dash to FDA, After Myeloma Drug Helps Sickest of the Sick
Tony Coles has been pushing for two years to re-fashion Onyx Pharmaceuticals into more than a one-drug company, and now he might have the data to make that happen. The Emeryville, CA-based biotech company (NASDAQ: [[ticker:ONXX]]) is announcing today that its drug candidate for multiple myeloma was able to at least partially shrink tumors for … Continue reading “Onyx Preps for Dash to FDA, After Myeloma Drug Helps Sickest of the Sick”
SonoSite’s New Push: Ultrasound for an Up-Close Look at Heart Attack Risk
Now I say this for sure, I’m not going to drop dead from a heart attack anytime soon. Sure, I’ve seen the doctor before and had all the usual heart disease tests done—cholesterol counts, measurements of fat in the blood (triglycerides), blood pressure, the old-fashioned family history. But now I got some unequivocal signs on … Continue reading “SonoSite’s New Push: Ultrasound for an Up-Close Look at Heart Attack Risk”
Genzyme Stock Surges 15 Percent on Sanofi Buyout Speculation
Genzyme stock boomed today on speculation that the company could get acquired by Paris-based drug giant Sanofi-Aventis. The news was reported earlier today by the Wall Street Journal and Bloomberg News. No deal was actually announced, and a Genzyme spokesman stated the obvious—that the company, with headquarters in Cambridge, MA, and significant operations in San … Continue reading “Genzyme Stock Surges 15 Percent on Sanofi Buyout Speculation”
Report: Daptiv, Maker of Project Management Software, Sold to Private Equity Firm
[Updated and corrected: 12:53 pm Pacific] Seattle-based Daptiv has struck a deal to sell its assets to a private equity firm, according to a report this morning in TechFlash. The sale to Laguna Hills, CA-based Parallax Capital Partners is worth $12.6 million, for a company that raised $30 million in venture capital in its 13-year … Continue reading “Report: Daptiv, Maker of Project Management Software, Sold to Private Equity Firm”
Momenta Gets FDA Green Light For Generic Anti-Clotting Drug; Shares Boom
Momenta Pharmaceuticals (NASDAQ: [[ticker:MNTA]]) has won a spot on the U.S. market for its first drug. The Cambridge, MA-based biotech company said today that the FDA has approved a generic version of a common anti-clotting drug developed by Momenta and Sandoz, a unit of Novartis. The news sent Momenta stock rocketing up 77 percent by … Continue reading “Momenta Gets FDA Green Light For Generic Anti-Clotting Drug; Shares Boom”
Tethys Pockets $33M, Achaogen’s Vision for Antibiotics, Genentech Strikes Out at FDA Panel, & More Bay Area Life Sciences News
Two prominent Bay Area biotech companies took their lumps in front of FDA advisory panels this week, which clearly sent some shivers through the startup community. —Genentech, the U.S. unit of Roche, failed to persuade an FDA advisory panel to support the use of bevacizumab (Avastin) for women with a type of breast cancer that … Continue reading “Tethys Pockets $33M, Achaogen’s Vision for Antibiotics, Genentech Strikes Out at FDA Panel, & More Bay Area Life Sciences News”
Seven Years Into Personalized Medicine Foray, Mohr Davidow Stays Patient, Keeps Betting on Big Idea
Personalized medicine is one of those big ideas people have been talking about for a decade, and it still hasn’t made much of an appearance in the doctor’s office. But to Menlo Park, CA-based Mohr Davidow Ventures, after seven years of bets on this big idea, it still has all the promise of a field … Continue reading “Seven Years Into Personalized Medicine Foray, Mohr Davidow Stays Patient, Keeps Betting on Big Idea”
Euthymics, Led by Orexigen Vet, Nabs $24M for Depression Drug With Fewer Side Effects
Boston has a new startup working on what could help people battle depression, even if they didn’t respond to prior treatment, and without the weight gain and sexual dysfunction side effects that have plagued the field for years. Cambridge, MA-based Euthymics Bioscience is off and running toward that goal, having secured the initial installment of … Continue reading “Euthymics, Led by Orexigen Vet, Nabs $24M for Depression Drug With Fewer Side Effects”
Integrated Diagnostics, Leroy Hood’s Latest Startup, Pockets $10M After Hitting Early Goals
Integrated Diagnostics has done what it told its investors it would do, at least in its early days. The Seattle-based developer of predictive diagnostic tests has secured a $10 million financing, which represents the second installment of a three-part, $30 million Series A venture deal announced last October. As part of the deal, a newly … Continue reading “Integrated Diagnostics, Leroy Hood’s Latest Startup, Pockets $10M After Hitting Early Goals”
Tekmira and AVI Win Ebola Deals, Mirador’s Idea to Prevent Hospital Errors, Tom Ranken’s New Mission, & More Seattle-Area Life Sciences News
The Ebola virus made a big appearance on the Northwest biotech scene this week, but it wasn’t nearly as ominous as that sounds. —Tekmira Pharmaceuticals, the Vancouver, BC-based developer of drugs that silence specific stretches of RNA, said it has nailed down a U.S. defense contract that could be worth as much as $140 million over … Continue reading “Tekmira and AVI Win Ebola Deals, Mirador’s Idea to Prevent Hospital Errors, Tom Ranken’s New Mission, & More Seattle-Area Life Sciences News”
MDRNA Does Reverse Stock Split
MDRNA (NASDAQ: [[ticker:MRNA]]), the Bothell, WA-based developer of RNA interference drugs, said today in a regulatory filing that it has executed a reverse stock split, in which existing shareholders will trade in four shares and get one back in return. The company’s board authorized the move at the 2009 annual meeting, saying it should be … Continue reading “MDRNA Does Reverse Stock Split”
Tethys Snags $33M in Equity, Debt for Predictive Diabetes Test
[Corrected: 9 am Eastern] Tethys Bioscience has secured $33 million to see if it can build a big business around predicting and possibly heading off one of scourges of modern life—diabetes. The Emeryville, CA-based company is announcing today it has nailed down $23 million in equity investment, while borrowing another $10 million to finance the … Continue reading “Tethys Snags $33M in Equity, Debt for Predictive Diabetes Test”
Biotech on a Shoestring: How Companies Are Pinching Pennies in the “New Reality”
Just in case startups thought they were insulated from the Wall Street implosion of September 2008, Sequoia Capital let there be no doubt that the ripple effect was being felt. Sequoia famously held an emergency meeting with its portfolio companies in October 2008, complete with a mock tombstone with the message “RIP: Good Times.” The … Continue reading “Biotech on a Shoestring: How Companies Are Pinching Pennies in the “New Reality””
Genentech Fails to Sway FDA Panel
An FDA advisory panel voted 12-1 today against the usage of Genentech’s bevacizumab (Avastin) as a treatment for women with certain forms of breast cancer. The Oncologic Drugs Advisory Committee recommended that the FDA remove language from the drug’s prescribing information that states it can be used for women getting their first round of treatment … Continue reading “Genentech Fails to Sway FDA Panel”
Mirador Biomedical Seeks to Prevent Hospital Errors with Simple Digital Sensor
Justin Hulvershorn learned in medical school about one of the everyday procedures done in hospitals, when a patient has a catheter inserted into a central vein to deliver fluids or drugs. In one memorable moment from about 10 years ago, the medical professional missed the vein and hit one of the biggest arteries that carries … Continue reading “Mirador Biomedical Seeks to Prevent Hospital Errors with Simple Digital Sensor”
Tom Ranken’s Mission: Knit Together Northwest’s First Real Cleantech Trade Association
Tom Ranken has been feeling a bit of déjà vu lately. The feeling has washed over Ranken in the past month, since he was hired to be the first full-time CEO of the Washington Clean Technology Alliance. His job is essentially to turn a fledgling, hyped-up, loosely-defined industry into a more clearly defined, potent force … Continue reading “Tom Ranken’s Mission: Knit Together Northwest’s First Real Cleantech Trade Association”
Achaogen, Flush with $56M, Seeks to Build Lasting Company with Potent Antibiotics
Want to raise a mountain of venture capital to pursue your biotech dreams in 2010? Do what Kevin Judice of Achaogen did. First, find some government agencies and charities willing to commit $100 million to your R&D, then see if the VCs will pull out the checkbook. That’s what happened earlier this year for South … Continue reading “Achaogen, Flush with $56M, Seeks to Build Lasting Company with Potent Antibiotics”
AVI Biopharma Wins Big Ebola Contract Worth up to $291M
The Northwest might just be an emerging cluster for Ebola. Research, anyway. Bothell, WA-based AVI Biopharma (NASDAQ: [[ticker:AVII]]) said today it has been awarded a contract from the U.S. Department of Defense to develop treatments for the deadly Ebola and Marburg viruses, in case they were ever used as bioterrorism agents. AVI stands to receive … Continue reading “AVI Biopharma Wins Big Ebola Contract Worth up to $291M”
Kristina Burow, Arch’s Rising Star in SF, Spots Big Ideas in Biotech, Cleantech
Kristina Burow came to UC Berkeley as a teenager from Minnesota with a vague idea about what she wanted in life, other than to become a champion collegiate swimmer. She ended up finding her purpose in both chemistry and business. Operating at the nexus of those two fields, at just 36, Burow has assembled a … Continue reading “Kristina Burow, Arch’s Rising Star in SF, Spots Big Ideas in Biotech, Cleantech”
Tekmira Nails $140M Defense Contract to Make RNAi Drug for Ebola
Score one huge U.S. defense contract for the Canadians. Vancouver, BC-based Tekmira Pharmaceuticals (TSX: [[ticker:TKM]]), a leading developer of technology for RNA interference drugs, said today it has secured a contract from the U.S. military worth as much as $140 million to make a drug that can effectively combat the deadly Ebola virus. This is … Continue reading “Tekmira Nails $140M Defense Contract to Make RNAi Drug for Ebola”
Vivus Obesity Drug Shot Down by FDA Panel, in Close Vote
[Updated: 12:45 pm Pacific, 7/16/10] Mountain View, CA-based Vivus (NASDAQ: [[ticker:VVUS]]) suffered a setback today at an important meeting for the future of obesity drug development, with implications for San Diego’s Arena Pharmaceuticals and Orexigen Therapeutics. A panel of experts who advise the FDA said today in a 10-6 vote that Vivus’ experimental weight loss … Continue reading “Vivus Obesity Drug Shot Down by FDA Panel, in Close Vote”
Itero, Seeking a “Biosimilar” That’s Better, Strikes Deal With Watson for Female Infertility
San Mateo, CA-based Itero Biopharmaceuticals, a small company seeking to make “biosimilar” treatments that provide an advantage over original biotech drugs, has found its first partner to help it develop a new product. The company has formed a collaboration with Morristown, NJ-based Watson Pharmaceuticals (NYSE: [[ticker:WPI]]) to develop a new treatment for female infertility. Itero … Continue reading “Itero, Seeking a “Biosimilar” That’s Better, Strikes Deal With Watson for Female Infertility”
NanoBio, With Glaxo as Big Partner, Sees Market in Treating and (Maybe) Preventing Cold Sores
NanoBio has spent a decade of R&D working on nanotech formulations that might help drugs and vaccines be better absorbed, more effective, or more convenient. Now the Ann Arbor, MI-based company is plowing ahead with its first big application—for the treatment and possibly the prevention of cold sores. This story has been unfolding for some … Continue reading “NanoBio, With Glaxo as Big Partner, Sees Market in Treating and (Maybe) Preventing Cold Sores”
Allozyne Breaks Silence, Accelerator’s Mini-Golf Hijinks, Maveron’s Vision for Primary Care, & More Seattle-Area Life Sciences News
One of the more interesting biotech startups in town re-emerged after more than a year of progress in stealth mode. —Allozyne CEO Meenu Chhabra gave her first in-depth interview in more than a year, and had a lot to say about her company’s progress in this Xconomy exclusive. Seattle-based Allozyne, a graduate of the Accelerator, … Continue reading “Allozyne Breaks Silence, Accelerator’s Mini-Golf Hijinks, Maveron’s Vision for Primary Care, & More Seattle-Area Life Sciences News”
Allozyne Licenses Scripps Chemistry
Allozyne, the Seattle-based developer of modified protein drugs, said today it has obtained a license to “click chemistry” technology from the lab of Nobel Laureate K. Barry Sharpless at The Scripps Research Institute in San Diego. Allozyne’s lead drug candidate uses the chemical binding technique to attach a polymer to a genetically engineered protein for … Continue reading “Allozyne Licenses Scripps Chemistry”
Onyx Moving to South SF
Onyx Pharmaceuticals (NASDAQ: [[ticker:ONXX]]) is moving its headquarters from Emeryville, CA to a space in South San Francisco vacated by Exelixis, according to this report in the San Francisco Business Times. Onyx, which co-markets the hit cancer drug sorafenib (Nexavar), plans to move 220 employees to the facility at 249 E. Grand Avenue, according to … Continue reading “Onyx Moving to South SF”
PacBio Nabs $109M to Make Cheaper, Faster Gene Sequencing Tools
The idea of sequencing entire human genomes for $1,000 or less, in a matter of minutes, has never been hotter, if the flow of venture capital to Pacific Biosciences is any indication. The Menlo Park, CA-based developer of super-fast gene sequencing machines has raised another $109 million in a Series F round of financing. The … Continue reading “PacBio Nabs $109M to Make Cheaper, Faster Gene Sequencing Tools”
Vivus Faces Turning Point in Obesity Drug Battle Tomorrow With Arena, Orexigen
[Updated: 3:06 pm Pacific] Vivus will be the biotech company everybody’s watching tomorrow. That’s when the Mountain View, CA-based company (NASDAQ: [[ticker:VVUS]]) will go before a panel of expert advisers to the FDA, who will recommend to regulators whether Vivus has created a new obesity drug that’s good enough to be sold on the U.S. … Continue reading “Vivus Faces Turning Point in Obesity Drug Battle Tomorrow With Arena, Orexigen”
Allozyne, After a Stealthy Year on a Slim Budget, Re-Emerges with MS Drug and Fat Pipeline
Seattle-based Allozyne has been operating in stealth mode for more than a year, prompting some biotechies to wonder if it had quietly run out of cash and closed its doors. Far from it. Allozyne, one of the startups that graduated from the Accelerator biotech startup incubator, has been making huge strides behind the scenes, based … Continue reading “Allozyne, After a Stealthy Year on a Slim Budget, Re-Emerges with MS Drug and Fat Pipeline”
Peter Schultz Exits Top Job at Genomics Institute of the Novartis Research Foundation
Peter Schultz, the prominent chemist who founded one of San Diego’s top research centers more than a decade ago, is out as the director of the Genomics Institute of the Novartis Research Foundation (GNF), Xconomy has learned from multiple sources. Schultz’s departure was confirmed on his faculty biography on The Scripps Research Institute’s website, which … Continue reading “Peter Schultz Exits Top Job at Genomics Institute of the Novartis Research Foundation”
Femta Pharmaceuticals Snags $2.2M for Potent Antibody Drugs
San Diego-based Femta Pharmaceuticals has pocketed some more venture capital to make targeted antibody drugs that pack more punch. The company has raised $2.2 million in equity and options financing out of a deal that could be worth $2.47 million, according to a regulatory filing. Latterell Venture Partners and Biotech Investment Group, a couple of … Continue reading “Femta Pharmaceuticals Snags $2.2M for Potent Antibody Drugs”
XDx Secures $6M Debt
XDx, the Brisbane, CA-based developer of molecular diagnostics, has secured $6 million through a debt and options financing that could ultimately be worth $10 million, according to a regulatory filing. The company, founded in 2000, raised $14 million in August 2009 from a long list of backers, including Bristol-Myers Squibb, Burrill Venture Capital, Intel Capital, … Continue reading “XDx Secures $6M Debt”
Ambrx CEO Steve Kaldor Departs
Ambrx, one of the richest venture-backed biotech startups in San Diego, is looking for a new CEO. Steve Kaldor stepped down from the company’s top job the last day of June and the company is beginning to search for a replacement, Xconomy has learned. Kaldor joined Ambrx in July 2007 after stints as the president … Continue reading “Ambrx CEO Steve Kaldor Departs”
Accelerator, Taking a Break from Curing Cancer, Unwinds With Some Mini-Golf Hijinks
The people at Seattle-based Accelerator spend their days doing oh-so-serious stuff, like trying to redefine the state of the art in biotechnology. Yesterday it was time to goof off. I joined in the Accelerator mini-golf tournament at the Interbay Golf Center. It’s the fourth year of the outing for Accelerator, the venture-backed biotech startup incubator … Continue reading “Accelerator, Taking a Break from Curing Cancer, Unwinds With Some Mini-Golf Hijinks”
Maveron, VC Firm and Consumer Trendspotter, Sees Growth in Healthcare for People and Pets
Maveron, the venture firm co-founded by Starbucks mogul Howard Schultz and Dan Levitan, has carved out its niche in spotting consumer trends over the past dozen years. One of the big opportunities that Maveron sees emerging now is the transformation in how healthcare is delivered and paid for. Not just for people, but for pets, … Continue reading “Maveron, VC Firm and Consumer Trendspotter, Sees Growth in Healthcare for People and Pets”
Accuri Cytometers Raises $6M for Smaller, Cheaper Cell Analysis Instruments
[Updated: 11:40 am] Accuri Cytometers, the Ann Arbor, MI-based company with a vision of making high-powered cell analysis machines cheaper and more accessible to biology labs, has raised $6 million in new venture capital. The financing was disclosed Friday in a filing with the Securities & Exchange Commission. [Updated with list of investors] Fidelity Biosciences, … Continue reading “Accuri Cytometers Raises $6M for Smaller, Cheaper Cell Analysis Instruments”
Corey Goodman’s New Startup, UCSF Spinoff Raises $40M, Gail Maderis Gives Back, & More Bay Area Life Sciences News
We covered a variety of subjects on the biotech beat this week—cloud computing for genomics, a new idea for bioinformatics, an environmental health startup co-founded by Corey Goodman, and a profile of the new CEO of BayBio. Read on to catch up on the week’s headlines. —Gail Maderis has spent a career working up the … Continue reading “Corey Goodman’s New Startup, UCSF Spinoff Raises $40M, Gail Maderis Gives Back, & More Bay Area Life Sciences News”
Theranos Raises $45M For Personalized Medicine
Theranos, the Palo Alto, CA-based company that seeks to put together health IT systems that support more personalized medicine, has raised $45 million in new equity and option financing in a deal that could ultimately be worth as much as $100 million, according to a regulatory filing. Theranos didn’t issue a statement today about the … Continue reading “Theranos Raises $45M For Personalized Medicine”
Mirador Biomedical Seeks FDA Nod
Seattle-based Mirador Biomedical said today it has filed for FDA clearance to start selling a device that helps medical professionals tell the difference between a vein or an artery as a catheter gets inserted. More than 6 million central venous procedures are done each year in the U.S., and thousands of people suffer severe injuries … Continue reading “Mirador Biomedical Seeks FDA Nod”
iPierian Nabs $22M, Names New CEO
iPierian, the South San Francisco-based developer of stem cell technology for drug discovery, said today it has raised $22 million in a Series B venture financing. Google Ventures led the round, which included Mitsubishi UFJ Capital, ATEL Ventures, Kleiner Perkins Caufield & Byers, Highland Capital Partners, MPM Capital, and FinTech Global Capital. In connection with … Continue reading “iPierian Nabs $22M, Names New CEO”
Infinity Pharma, Intellikine Strike Deal to Make Cancer Drugs Against Hot Target
Cambridge, MA-based Infinity Pharmaceuticals seeks to stay on the leading edge of cancer research, and today it has found something it likes in San Diego. Infinity (NASDAQ: [[ticker:INFI]]) has struck a global development and commercialization deal with San Diego-based Intellikine to pursue drugs aimed at one of the emerging hot targets in biology of cancer … Continue reading “Infinity Pharma, Intellikine Strike Deal to Make Cancer Drugs Against Hot Target”