Gail Maderis built a career as a biotech executive in Boston, where she got involved early enough to help shape the rules of the industry that companies live under today. But after more than two decades in New England, Maderis has become one of the key players in the San Francisco Bay Area, the place … Continue reading “Gail Maderis, the Boston Biotech Exec Who Came Home to SF, Seeks to Give Back at BayBio”
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.
Amazon’s Vision for Biology in the Cloud, Uptake Nabs $17.5M, CMC Icos Mounts Comeback, & More Seattle-Area Life Sciences News
This being a short holiday week, the Seattle biotech roundup is short and sweet. —Seattle-based online retail giant Amazon has been pushing hard for a few years to become the leader in cloud computing, which has enabled a generation of tech startups to run their businesses with less startup capital. But it’s only recently been … Continue reading “Amazon’s Vision for Biology in the Cloud, Uptake Nabs $17.5M, CMC Icos Mounts Comeback, & More Seattle-Area Life Sciences News”
Calithera, a UCSF Spinoff, Raises $40M to Develop Cancer Drugs
One of the nation’s biggest biotech startup deals of the year just emerged from UC San Francisco. Calithera, a company with roots in the lab of Jim Wells, has raised $40 million to develop new cancer drugs. The financing was led by Morgenthaler Ventures, and included US Venture Partners, Advanced Ventures, Delphi Ventures, as well … Continue reading “Calithera, a UCSF Spinoff, Raises $40M to Develop Cancer Drugs”
Uptake Medical Raises $17.5M for Emphysema Device
Uptake Medical has closed a financing round worth $17.5 million. The Seattle-based company says it will use the money to get clearance to start selling a device to treat emphysema in Europe, to start marketing it outside the U.S., and to pursue FDA approval. The Series B financing was led by Maverick Capital, and included … Continue reading “Uptake Medical Raises $17.5M for Emphysema Device”
Oncothyreon Lines Up $20M
Seattle-based Oncothyreon (NASDAQ: [[ticker:ONTY]]) said today it has secured a line of equity financing in which it may sell as much as $20 million worth of new common stock to Small Cap Biotech Value. Oncothyreon said it will determine the timing and dollar amounts of the stock sales, and it is not obligated to use … Continue reading “Oncothyreon Lines Up $20M”
Genentech Seeks FDA Nod for T-DM1
Genentech, the South San Francisco-based unit of Roche, said it has turned in its application to the FDA to start selling a souped-up version of the hit breast cancer drug trastuzumab (Herceptin). The new antibody is attached to a toxin to give it more tumor-killing punch. The drug, known as T-DM1, was developed by Genentech … Continue reading “Genentech Seeks FDA Nod for T-DM1”
CMC Icos Mounts Comeback, Resumes Hiring, After Pausing During the Downturn
CMC Icos Biologics was one of the bright spots in the Northwest innovation community during the dark days of September 2008. The financial crisis was all over the news, yet the Bothell, WA-based biotech drugmaker said it planned to double in size to 250 employees, and quintuple its manufacturing capacity. Two weeks later, the company … Continue reading “CMC Icos Mounts Comeback, Resumes Hiring, After Pausing During the Downturn”
DNAnexus Seeks to Capitalize on Data Pile-Up, as Leader in Genomic Analysis Software
The time is right for someone to come along and build a great company in bioinformatics, according to Andreas Sundquist. He’s betting it will be his team at Palo Alto, CA-based DNAnexus. Scientists have been complaining for years about massive amounts of data piling up on their servers as gene sequencing instruments have become ever … Continue reading “DNAnexus Seeks to Capitalize on Data Pile-Up, as Leader in Genomic Analysis Software”
PhyloTech, Corey Goodman’s First Environmental Health Startup, Raises $1.2M in Seed Capital
Corey Goodman, the prominent biotech entrepreneur, looked at the view from his home at Tomales Bay in Marin County, CA one day in the late ’90s, and was stunned by what he saw. Officials were taking water samples, looking for bacterial contamination that was making people sick. It was all a big mystery where it … Continue reading “PhyloTech, Corey Goodman’s First Environmental Health Startup, Raises $1.2M in Seed Capital”
AlloCure, With Stem Cell Therapy for Kidney Failure, Arrives in New England with New CEO
Boston has landed an intriguing biotech startup seeking to tap the New England talent pool. AlloCure, the developer of an adult stem cell therapy for a severe kidney disease, has moved its headquarters from Salt Lake City to Burlington, MA, where it is being led by new CEO Robert Brenner, a veteran executive from AMAG … Continue reading “AlloCure, With Stem Cell Therapy for Kidney Failure, Arrives in New England with New CEO”
Amazon’s Cloud Computing Service Sees Opportunity in Genomic Data Overload
The future of biology, if Amazon has its way, will be in the cloud. The Seattle-based online retailer (NASDAQ: [[ticker:AMZN]]) has generated buzz the past few years with its foray into cloud computing through Amazon Web Services. This is the model in which customers rent server space on a pay-as-you-go basis, and get access to … Continue reading “Amazon’s Cloud Computing Service Sees Opportunity in Genomic Data Overload”
Ingenuity Systems Adds $15.3M
Ingenuity Systems, the Redwood City, CA-based company that offers search capabilities to life scientists, has secured $15.3 million in a new equity financing, according to a regulatory filing. The company, founded in 1998 by Stanford University graduate students, says on its website that it uses semantic search and software development to help biologists search, visualize, … Continue reading “Ingenuity Systems Adds $15.3M”
Invuity Nabs $13.2M
San Francisco-based Invuity, the company that helps surgeons better visualize what they do, has raised $13.2 million in new equity out of a financing deal that could be worth as much as $16 million, according to a regulatory filing. The document doesn’t say who invested, but Kleiner Perkins Caufield & Byers is a backer, according … Continue reading “Invuity Nabs $13.2M”
Drop the Incrementalism & More Advice on How to Create a Stable Hub for Innovation
We tapped into a rich vein for commentary the past few weeks, by asking technology leaders from around the country for ideas on how to make San Francisco and Silicon Valley a more stable place for innovation, less wedded to traditional cycles of boom and bust. We had no idea what people would say, but … Continue reading “Drop the Incrementalism & More Advice on How to Create a Stable Hub for Innovation”
Exelixis CEO Takes Biogen Gig, What Drives Brook Byers Crazy, The Mission Bay Biotech Cluster, & More Bay Area Life Sciences News
There was some feisty commentary this week on the site to go with a couple big personnel moves right before the holiday weekend. —Exelixis CEO George Scangos built that company’s reputation around a productive R&D pipeline, and now he’s taking on the big challenge of fixing the R&D engine at Cambridge, MA-based Biogen Idec (NASDAQ: … Continue reading “Exelixis CEO Takes Biogen Gig, What Drives Brook Byers Crazy, The Mission Bay Biotech Cluster, & More Bay Area Life Sciences News”
Rising from the Ashes of Pfizer: The Michigan Contract Research Organization Cluster
[Updated and corrected: 11:30 am, 7/7/10] Michigan suffered one heck of a body blow in January 2007. That’s when Pfizer, the world’s largest drugmaker, said it was shutting down its Ann Arbor, MI, research and development center, and eliminating 2,400 jobs. That’s usually the end of the story, as hardly anybody keep tracks of what … Continue reading “Rising from the Ashes of Pfizer: The Michigan Contract Research Organization Cluster”
Calistoga Pockets $40M, NanoString Hires CEO, Spiration Sells to Olympus, & More Seattle-Area Life Sciences News
This week was so busy with companies breaking news before the holiday weekend that I didn’t have time to immediately jump on the latest tempest affecting Dendreon. Alas, tomorrow is another day. —Seattle-based Calistoga Pharmaceuticals generated the big news of the week, by raising $40 million in the biggest venture deal of the year so … Continue reading “Calistoga Pockets $40M, NanoString Hires CEO, Spiration Sells to Olympus, & More Seattle-Area Life Sciences News”
Arena Strikes Deal with Eisai to Market Obesity Drug in U.S., Pocketing $50M Upfront
Arena Pharmaceuticals has raised $1 billion to get an obesity drug candidate on the doorstep of FDA approval, and now it has found someone else to commercialize it. The San Diego-based company has struck a deal with Japan-based Eisai Pharmaceuticals to sell lorcaserin in the U.S. This isn’t the usual transaction you see between a … Continue reading “Arena Strikes Deal with Eisai to Market Obesity Drug in U.S., Pocketing $50M Upfront”
Santarus Cuts 120 Jobs
San Diego-based Santarus (NASDAQ: [[ticker:SNTS]]) said today it is cutting 120 jobs, or 37 percent of its workforce, because a competitor is starting to sell cheaper generic copies of omeprazole sodium bicarbonate (Zegerid). Santarus is ending its promotion of brand-name Zegerid, although it will retain 110 sales reps to promote metformin hydrochloride (Glumetza) for Type … Continue reading “Santarus Cuts 120 Jobs”
Exelixis Promotes Morrissey to CEO, Replacing Scangos as He Heads to Biogen Idec
Exelixis didn’t have to spend a lot of time searching for a CEO to replace George Scangos. The South San Francisco-based biotech company (NASDAQ: [[ticker:EXEL]]) said today that its president of R&D, Michael Morrissey, is being promoted to the company’s top job as Scangos is leaving to become CEO of Cambridge, MA-based Biogen Idec. Morrissey, … Continue reading “Exelixis Promotes Morrissey to CEO, Replacing Scangos as He Heads to Biogen Idec”
TargeGen Sells to Sanofi For As Much As $560M, Offering Returns to Forward Ventures, Enterprise Partners
Ivor Royston is catching the opera tonight in Paris, and he has some reason to relax. The managing partner of San Diego’s Forward Ventures was in France as the press release hit the wire announcing his portfolio company, TargeGen, has been acquired by Paris-based drugmaker Sanofi-Aventis for as much as $560 million. This deal, like … Continue reading “TargeGen Sells to Sanofi For As Much As $560M, Offering Returns to Forward Ventures, Enterprise Partners”
What Drives Brook Byers Crazy & More Lessons On Innovation from the QB3/BayBio Event
Brook Byers got a little animated last night. Speaking in a packed auditorium that bears his name on UCSF’s Mission Bay campus, the famed venture capitalist rhapsodized about the scientific wonders around him, and how the university has created an entrepreneurial culture to translate discoveries into real-world products and businesses. It was all upbeat until … Continue reading “What Drives Brook Byers Crazy & More Lessons On Innovation from the QB3/BayBio Event”
Calistoga Pharmaceuticals Nabs $40M in Washington’s Biggest Venture Deal of 2010
Seattle-based Calistoga Pharmaceuticals has nailed down $40 million in new venture capital, making it the biggest VC deal of the year so far in Washington state (if you don’t count broader private equity deals). The financing was led by a new investor, New York-based Quogue Capital. The rest of the money came from Calistoga’s existing … Continue reading “Calistoga Pharmaceuticals Nabs $40M in Washington’s Biggest Venture Deal of 2010”
NanoString Hires Genzyme Vet as CEO to Lead Foray Into Molecular Diagnostics
Seattle-based NanoString Technologies hasn’t had a permanent CEO for more than a year, and now the search has ended in Boston. The company, which makes instruments to help scientists perform sophisticated genetic analyses, has named Brad Gray, the former vice president of product and business development for Cambridge, MA-based Genzyme Genetics, as its new president … Continue reading “NanoString Hires Genzyme Vet as CEO to Lead Foray Into Molecular Diagnostics”
The Mission Bay Biotech Cluster: Antibodies, RNAi, Biofuels, & More
[Update: 11:30 am, 7/8/10] Much has been written about the transformation of San Francisco’s Mission Bay district from run-down railroad property into a biotech hotbed. An estimated 56 biotech companies were said to be operating in San Francisco as of last month, compared to just one back in 2004, according to this report from Tom … Continue reading “The Mission Bay Biotech Cluster: Antibodies, RNAi, Biofuels, & More”
Say Goodbye to Greg, Meet Thea on Thursday at Xconomy Open House
Two weeks have gone by since we added Xconomy San Francisco, and a chain reaction of personnel moves to go with it. So it’s about time we have a party. We’re hosting an open house from 4 pm to 7 pm on Thursday, July 1, at our office building at 1102 Columbia St. on First … Continue reading “Say Goodbye to Greg, Meet Thea on Thursday at Xconomy Open House”
Emerald, Forma Strike Deal
Emerald Biostructures, the Bainbridge Island, WA-based company that produces X-ray crystallography images of drug targets, said today it has formed a partnership with Cambridge, MA-based Forma Therapeutics. The multi-year deal covers multiple targets for cancer drugs that Forma is seeking to develop. Financial terms of the deal aren’t being disclosed, although it will provide salaries … Continue reading “Emerald, Forma Strike Deal”
Future Biotech Winners Will Help Nurses Clean up Less (Stuff), Says Roger Longman
Savvy biotech companies developing, say, cancer drugs, will have to do more in the future than just look at whether a new drug is safe and kills tumors, according to Roger Longman. They’ll also measure things that really count for payers, like length of hospital stays, and—set aside your bowl of Cheerios—how much time it … Continue reading “Future Biotech Winners Will Help Nurses Clean up Less (Stuff), Says Roger Longman”
Orexigen Drug Shows Potential as “Two-Fer” Against Obesity and Diabetes
Diabetes and obesity are so closely related for so many millions of people, physicians and investors now sometimes talk about the “diabesity” epidemic. There are a lot of drugs out there for one condition or the other, and now San Diego-based Orexigen Therapeutics is attempting to make a case that its experimental drug could be … Continue reading “Orexigen Drug Shows Potential as “Two-Fer” Against Obesity and Diabetes”
Olympus Acquires Redmond’s Spiration, Maker of Lung-Disease Valve, for Undisclosed Sum
[Update: 10:45 am] Spiration’s independent days are over. The Redmond, WA-based company, the developer of a minimally-invasive valve to treat lung diseases, has agreed to be acquired by Japan-based Olympus for an undisclosed sum. The acquisition is really the culmination of a relationship that’s been growing between the two companies since 2008, when Olympus obtained … Continue reading “Olympus Acquires Redmond’s Spiration, Maker of Lung-Disease Valve, for Undisclosed Sum”
Gilead Buys CGI for Up To $120M
Gilead Sciences (NASDAQ: [[ticker:GILD]]), the Foster City, CA-based biotech company, said today it has agreed to acquire Branford, CT-based CGI Pharmaceuticals for as much as $120 million. Gilead has agreed to pay the majority of that sum upfront, and CGI could receive the rest if it achieves certain progress in clinical development. CGI has developed … Continue reading “Gilead Buys CGI for Up To $120M”
Genentech’s Souped-Up Antibody, Reg Kelly’s Mission, LS9 Nears Moment of Truth & More Bay Area Life Sciences News
We know the news and features move fast on our site, and it can be hard to keep up with everything we write every day. So here’s a weekly roundup to help you catch up. This one is especially big, since we started publishing Xconomy San Francisco on June 14 and I’m actually summing up our first … Continue reading “Genentech’s Souped-Up Antibody, Reg Kelly’s Mission, LS9 Nears Moment of Truth & More Bay Area Life Sciences News”
Amylin Cuts 60 Jobs
San Diego-based Amylin Pharmaceuticals (NASDAQ: [[ticker:AMLN]]) has cut 60 jobs, or about 4 percent of its workforce, according to a recent story in the Union-Tribune. The cuts happened within a few specific areas of the company, including R&D, spokeswoman Anne Erickson said. “The R&D changes do not signal a move away from research at Amylin,” … Continue reading “Amylin Cuts 60 Jobs”
Seattle Sensor Systems Loses New CEO Who Stirred Buzz at Zino Society, Technology Alliance
[Update: 4:22 pm Pacific] Seattle Sensor Systems, a University of Washington spinout company that appeared rejuvenated earlier this year by hiring a new chief executive with a new business plan, has suddenly decided to dump CEO Carole Spangler. Spangler confirmed that she’s out of the picture, but didn’t say why. “News travels fast. It is … Continue reading “Seattle Sensor Systems Loses New CEO Who Stirred Buzz at Zino Society, Technology Alliance”
Seattle Genetics’ Dark Horse, Gilead Beats Novartis, Oncothyreon Back in the Saddle, & More Seattle-Area Life Sciences News
Summertime may be officially here, but we are a long way from the dog days. This week, the Seattle biotech desk had reports on cancer drugs, drug discovery tools, and antibiotics, as well as a few sharp guest editorials. —Seattle Genetics (NASDAQ: [[ticker:SGEN]]) has generated a lot of buzz about its drug candidate, an “empowered … Continue reading “Seattle Genetics’ Dark Horse, Gilead Beats Novartis, Oncothyreon Back in the Saddle, & More Seattle-Area Life Sciences News”
Ablexis Maps Out New Antibody Drug Strategy with $12M From Third Rock, Pfizer
Antibodies that can zero in on specific diseased cells are some of the biggest-selling and fastest-growing fields in all of biotech. Yet after three decades of R&D, if you talk to people who try to discover these things, they’ll tell you it’s a long and risky slog to get any good candidates for clinical trials. … Continue reading “Ablexis Maps Out New Antibody Drug Strategy with $12M From Third Rock, Pfizer”
Presage Biosciences, the Fred Hutch Spinoff, Adds CEO, Angel Bucks, Big Pharma Customers
Quite a lot has happened at Presage Biosciences in just a couple months. This Seattle-based company, a spinoff from the Fred Hutchinson Cancer Research Center, has recruited a new CEO, raised another $1 million, found new labs, and snapped up two active contracts from Big Pharma customers. Such are the heady early days for the … Continue reading “Presage Biosciences, the Fred Hutch Spinoff, Adds CEO, Angel Bucks, Big Pharma Customers”
Three Medical Device Deals to Wrap Up: Voyage Medical, Incline Therapeutics, and Baxano
Here are three interesting medical device deals from around the Bay Area that crossed our desk in the past few days. —Voyage Medical, a Redwood City, CA-based developer of technology to help cardiologists better visualize heart tissue as they work, raised $20.6 million out of an equity financing round that could be worth as much … Continue reading “Three Medical Device Deals to Wrap Up: Voyage Medical, Incline Therapeutics, and Baxano”
Regulus Therapeutics, Spinoff of Isis and Alnylam, Forms $750M MicroRNA Deal With Sanofi
Regulus Therapeutics has found its second big ally from Big Pharma. The Carlsbad, CA-based company has forged what it calls its most lucrative partnership yet to discover, develop, and someday co-market microRNA drugs with Paris-based pharma giant Sanofi-Aventis (NYSE: [[ticker:SNY]]). Regulus, formed in 2008 by Cambridge, MA-based Alnylam Pharmaceuticals (NASDAQ: [[ticker:ALNY]]]) and Carlsbad’s Isis Pharmaceuticals … Continue reading “Regulus Therapeutics, Spinoff of Isis and Alnylam, Forms $750M MicroRNA Deal With Sanofi”
Seattle Genetics’ Dark Horse Drug Candidate Approaches Home Stretch in Leukemia Study
[Correction: 10:05 am Pacific] The buzz around Seattle Genetics (NASDAQ: [[ticker:SGEN]]) has been about whether it will finally prove, after more than a decade, that an “empowered antibody” can be an effective treatment for cancer. But while fewer people are watching, the company is eagerly awaiting clinical results for a traditional antibody that also has … Continue reading “Seattle Genetics’ Dark Horse Drug Candidate Approaches Home Stretch in Leukemia Study”
Cadence Gets Option to Buy Incline
Cadence Pharmaceuticals (NASDAQ: [[ticker:CADX]]), the San Diego-based developer of an intravenous form of acetaminophen for pain relief in hospitals, said today it has obtained an exclusive option to acquire Redwood City, CA-based Incline Therapeutics. Separately, Incline announced it has raised $43 million in Series A venture financing to develop its fentanyl iontophoretic transdermal system (Ionsys), … Continue reading “Cadence Gets Option to Buy Incline”
LS9 Gets Presidential Award
LS9, the South San Francisco-based developer of renewable petroleum, said today it has received the Presidential Green Chemistry Challenge Award, the highest honor given by the Environmental Protection Agency. Winners are selected by a panel of experts pulled together by the American Chemical Society. LS9 co-founder and director Noubar Afeyan of Flagship Ventures traveled to … Continue reading “LS9 Gets Presidential Award”
Bristol-Myers Dumps Exelixis Drug
Bristol-Myers Squibb is backing out of a collaboration with Exelixis (NASDAQ: [[ticker:EXEL]]) to develop XL184 for cancer. The two companies “were not able to align on the scope, breadth and pace of the ongoing clinical development of XL184” because of progress in Bristol’s internal cancer drug pipeline, according to an Exelixis statement. Bristol will pay … Continue reading “Bristol-Myers Dumps Exelixis Drug”
Affymax Tanks on Anemia Results
Affymax (NASDAQ: [[ticker:AFFY]]), the Palo Alto, CA-based developer of an experimental anemia drug, released some bad news today from clinical trials conducted with partner, Takeda Pharmaceuticals. While four pivotal studies of a combined 2,609 patients showed that peginesatide (Hematide) wasn’t inferior to competing products from Amgen in terms of boosting hemoglobin to carry oxygen in … Continue reading “Affymax Tanks on Anemia Results”
Meet Xconomy Seattle’s Newest Team Member: Thea Chard
We played musical chairs last week at Xconomy, as we expanded into the San Francisco Bay Area. One of the important moves will become clear today, as I’m happy to introduce the newest member of our editorial team in Seattle, Thea Chard. Thea (pronounced TAY-uh) is trekking over to our First Hill office today for … Continue reading “Meet Xconomy Seattle’s Newest Team Member: Thea Chard”
Reg Kelly, Scotsman from Humble Roots, Finds New Purpose at QB3 in Mission Bay
One of the leaders of the renaissance in biomedical research and entrepreneurship in San Francisco’s Mission Bay district almost didn’t have a chance to go to college. Reg Kelly, the director of the California Institute for Quantitative Biosciences (QB3), was born 70 years ago in Edinburgh, Scotland, into a family so poor that he couldn’t … Continue reading “Reg Kelly, Scotsman from Humble Roots, Finds New Purpose at QB3 in Mission Bay”
Gilead CF Drug Passes Trial
Gilead Sciences (NASDAQ: [[ticker:GILD]]) said today its inhalable antibiotic for cystic fibrosis beat a rival drug in a head-to-head clinical trial. The Gilead treatment, aztreonam lysine, was compared with Novartis’ inhalable antibiotic, tobramycin (Tobi), in 273 patients, most of whom had already gotten three cycles of the Novartis drug in the year before they entered … Continue reading “Gilead CF Drug Passes Trial”
Memorial Service for Theraclone CEO Dave Fanning Set for Tuesday
Here’s a quick update to the obituary about Theraclone Sciences CEO David Fanning. A memorial service has been scheduled for 1:30 pm on Tuesday, June 22, at Grace Episcopal Church on Bainbridge Island, 8595 NE Day Road. Directions can be found on the church website. Steve Gillis, the managing director of Arch Venture Partners and … Continue reading “Memorial Service for Theraclone CEO Dave Fanning Set for Tuesday”
Stanford Biodesign, a Hothouse for Medical Devices, Shares its Secret Sauce for Invention
Stanford’s Program in Biodesign assesses its would-be and current fellows much as a lot of other elite graduate programs do. It looks at their academic record of achievement, their creative potential, and what they go on to accomplish in life. But one thing really struck me as unusual when I was on campus last week … Continue reading “Stanford Biodesign, a Hothouse for Medical Devices, Shares its Secret Sauce for Invention”
Motricity Completes IPO, Settles For $50M
Motricity found a limited appetite from Wall Street for its IPO, but it decided to seal the deal anyway. The Bellevue, WA-based maker of wireless technologies completed its IPO, by selling 5 million shares at $10 apiece. That offering is a long shot from what Motricity (NASDAQ: [[ticker:MOTR]]) originally hoped it would fetch when it … Continue reading “Motricity Completes IPO, Settles For $50M”