Gen-Probe (NASDAQ: [[ticker:GPRO]]), the San Diego-based maker of diagnostics, said today it has invested $50 million in Menlo Park, CA-based Pacific Biosciences, an emerging maker of high-speed gene sequencing instruments. The two companies will also collaborate, exclusively with each other for the next 30 months, on using the new sequencing technology to develop more molecular-based … Continue reading “Gen-Probe Bets $50M on PacBio”
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.
Motricity Lowers IPO Price Range to $10 to $11
Motricity’s IPO isn’t attracting the kind of interest the company had hoped for. The Bellevue, WA-based maker of wireless technology has cut its forecasted IPO price range. Motricity (NASDAQ: [[ticker:MOTR]]) now hopes to price its initial shares at $10 to $11 each, down from an earlier goal of $14 to $16, according to Renaissance Capital. … Continue reading “Motricity Lowers IPO Price Range to $10 to $11”
FerroKin BioSciences Gets $12M
FerroKin BioSciences, a San Francisco-based company seeking to treat iron overload, said today it has secured $12 million in venture financing. Existing investors Burrill & Co., Celgene, Clarus Ventures and MP Healthcare Venture Management, participated in the financing along with a new investor, Healthcap Ventures. The company says it has completed three clinical studies, in … Continue reading “FerroKin BioSciences Gets $12M”
Aquinox Pharma Nabs $25M
Aquinox Pharmaceuticals, a Vancouver, BC-based developer of small molecule drugs for cancer and inflammatory diseases, said today it has secured a $25 million second round of venture financing. The deal was led by Ventures West, and included Pfizer Venture Investments, Johnson & Johnson Development Corporation, Baker Brothers Investments and BC Advantage Funds. The money will … Continue reading “Aquinox Pharma Nabs $25M”
OncoMed Nabs $40M From Bayer
OncoMed Pharmaceuticals, the Redwood City, CA-based developer of drugs that aim for cancer stem cells, has struck a big partnership with Germany-based Bayer. The deal will provide OncoMed with $40 million in upfront cash, and also could offer milestone payments for as many as five different drug candidates, which have potential to generate as much … Continue reading “OncoMed Nabs $40M From Bayer”
Oncothyreon’s Cancer Vaccine Back in the Saddle, as Merck KGaA Re-Starts Clinical Trials
Oncothyreon can breathe a sigh of relief. The Seattle-based developer of cancer treatments (NASDAQ: [[ticker:ONTY]]) said today its partner, Germany-based Merck KGaA, has been cleared to re-start clinical trials of an immune-boosting therapy after trials were halted earlier this year when a patient developed an unexpected inflammation of the brain. The German-based Merck got clearance … Continue reading “Oncothyreon’s Cancer Vaccine Back in the Saddle, as Merck KGaA Re-Starts Clinical Trials”
iPierian, With Harvard Science and Kleiner Perkins Cash, Pursues Stem Cells to Make Drugs
Stem cells captivated the broad public imagination more than a decade ago, and despite all the hyperbole about creating Lazarus-like regenerative medicines, nobody has built a powerhouse business on this technology. Now a little company in South San Francisco, iPierian has a vision for using stem cells in a way that may not generate magazine … Continue reading “iPierian, With Harvard Science and Kleiner Perkins Cash, Pursues Stem Cells to Make Drugs”
Dave Fanning Dies Suddenly, Pfizer Scraps Trubion Drug, MediQuest Tees Up Next Trial, & More Seattle-Area Biotech News
This was a sad week in Seattle biotech, as the region lost one of its prominent startup CEOs and all-around good guys. —David Fanning, the president and CEO of Seattle-based Theraclone Sciences, died suddenly on Monday morning. When I have more information on memorial services, I will update this story. —Pfizer, the world’s largest drugmaker, … Continue reading “Dave Fanning Dies Suddenly, Pfizer Scraps Trubion Drug, MediQuest Tees Up Next Trial, & More Seattle-Area Biotech News”
Trius Gets FDA Clarity
Trius Therapeutics, the San Diego-based developer of antibiotics, said today it has agreed with the FDA on a special protocol assessment that establishes the design for a pivotal clinical trial. The clarity from the FDA is vital to Trius and its lead drug candidate, torezolid phosphate. The company postponed its IPO plans in March after … Continue reading “Trius Gets FDA Clarity”
Curis Stock Tanks After Cancer Drug Fails in Roche, Genentech’s Hands
Curis, the Cambridge, MA-based biotech company, is having a very bad day. The company’s stock plunged more than 40 percent today after its experimental cancer drug failed to reach its goal in a clinical trial conducted by its partner, Roche, and its U.S.-based Genentech unit. Curis (NASDAQ: [[ticker:CRIS]]) said that its experimental therapy, GDC-0449, failed … Continue reading “Curis Stock Tanks After Cancer Drug Fails in Roche, Genentech’s Hands”
GTC Axes 50 Workers, CEO Out
GTC Biotherapeutics, the Framingham, MA-based company that won FDA approval for the first drug manufactured in genetically modified animals, has cut 50 jobs in connection with a new $7 million convertible debt financing round. The company’s CEO, Geoffrey Cox and “several other members of the current senior management team” will be leaving the company, according … Continue reading “GTC Axes 50 Workers, CEO Out”
MediQuest, Crawling Out of the Bunker, Eagerly Awaits Results From Pivotal Raynaud’s Study
MediQuest Pharmaceuticals has barely made a peep since the FDA declined to approve its drug for Raynaud’s disease back in October 2008. But now the Bothell, WA-based company is starting to poke its head up again as it takes another shot at getting its first drug cleared for sale in the U.S. This week, MediQuest … Continue reading “MediQuest, Crawling Out of the Bunker, Eagerly Awaits Results From Pivotal Raynaud’s Study”
Elemental Adds $7M Equity
Elemental Technologies, the Portland, OR-based video processing startup, has raised $7.1 million in equity financing out of a round that could be worth $9 million over time, according to a regulatory filing. Greg profiled the company back in April, when it unveiled a real-time video encoding system to enable broadcasters, media companies, and cable networks … Continue reading “Elemental Adds $7M Equity”
LS9, Creator of Synthetic Microbes to Make Biofuel, Edges Toward Moment of Truth
Every hot startup has to put up or shut up at some point. This is when it’s time to stop talking about the gee-whiz founding idea and scientific progress. It’s the point when a company needs to prove it can operate a disciplined, sustainable business. The moment is fast approaching for LS9. LS9, the South … Continue reading “LS9, Creator of Synthetic Microbes to Make Biofuel, Edges Toward Moment of Truth”
Theraclone Sciences CEO David Fanning Dies Suddenly
Xconomy has some tragic news to report. David Fanning, the president and CEO of one of Seattle’s more promising biotech startups, Theraclone Sciences, died suddenly this morning, according to an e-mailed statement from its board of directors. The cause of death wasn’t immediately known. “We are heartbroken by this sudden, tragic loss, and our thoughts … Continue reading “Theraclone Sciences CEO David Fanning Dies Suddenly”
Pfizer Dumps Trubion’s Lead Rheumatoid Arthritis Drug, Keeps Next-Gen Product Alive
Bad news is out this afternoon from Trubion Pharmaceuticals. The Seattle-based biotech company said today New York-based Pfizer, has decided to quit investing in Trubion’s lead drug candidate for rheumatoid arthritis, in favor of a next-generation treatment further behind in clinical trials. Pfizer (NYSE: [[ticker:PFE]]), which inherited its collaboration with Trubion last year through a … Continue reading “Pfizer Dumps Trubion’s Lead Rheumatoid Arthritis Drug, Keeps Next-Gen Product Alive”
Genentech’s Souped-Up Herceptin: The Odyssey Toward a More Powerful Breast Cancer Drug
Scientists have been dreaming for decades about drugs that go after cancer cells like heat-seeking missiles. The idea is to destroy the enemy and spare other cells from the collateral damage that so many cancer drugs cause. Now after more than 10 years of sustained effort by one of largest teams ever assembled at Genentech, … Continue reading “Genentech’s Souped-Up Herceptin: The Odyssey Toward a More Powerful Breast Cancer Drug”
Calistoga Shows Cancer Drug Mechanism
Calistoga Pharmaceuticals, the Seattle-based developer of drugs for cancer and inflammatory diseases, said today its lead candidate for blood cancers appears to be working against tumors by disrupting chemokine signals and the tumor microenvironment. The findings were presented today at the European Hematology Association meeting in Barcelona. We reported last week on how the Calistoga … Continue reading “Calistoga Shows Cancer Drug Mechanism”
Onyx Lung Cancer Trial Fails
Onyx Pharmaceuticals (NASDAQ: [[ticker:ONXX]]), the Emeryville, CA-based cancer drug developer, said today that sorafenib (Nexavar) failed to reach its main goal of helping people live longer with non-small cell lung cancer in a study of about 900 patients. The drug is currently marketed to treat kidney cancer, and a type of liver cancer known as … Continue reading “Onyx Lung Cancer Trial Fails”
BrainCells Inc, With Novel Depression Drug, Seeks a Way Forward After Mixed Result
BrainCells Inc. has made its name with a novel approach for treating depression, by stimulating the growth of new neurons. Now the San Diego-based company will have some hard choices to make, since a clinical trial showed its drug doesn’t work any better than a placebo for most people with depression. The results also suggest, … Continue reading “BrainCells Inc, With Novel Depression Drug, Seeks a Way Forward After Mixed Result”
Motricity, Riding the Mobile Software Wave, Primed for $85M IPO This Week
Motricity, the Bellevue, WA-based mobile software company, is getting ready to pull the trigger on an initial public offering this week that could net more than $85 million, according to Renaissance Capital. The company is planning to offer 6.75 million new shares at a range of $14 to $16 apiece, according to its most recent … Continue reading “Motricity, Riding the Mobile Software Wave, Primed for $85M IPO This Week”
Rib-X Adds $5.5M Debt
Rib-X Pharmaceuticals, the New Haven, CT-based developer of antibiotics, has raised another $5.5 million in debt and options, according to a regulatory filing. The deal could be worth as much as $15 million over time. We last wrote about Rib-X in March, when Mark Leuchtenberger replaced Susan Froshauer as the company’s CEO. Rib-X, founded in … Continue reading “Rib-X Adds $5.5M Debt”
UCSF Creates $6.2B Economic Output
UC San Francisco generates about $6.2 billion of industrial output in the nine-county Bay Area, according to a new economic impact report. The institution has 21,900 employees, making it the second-largest employer in San Francisco behind the city itself, according to the report by Economic & Planning Systems of Berkeley. The data came from the … Continue reading “UCSF Creates $6.2B Economic Output”
SonoSite Plans $50M Stock Buyback
SonoSite (NASDAQ: [[ticker:SONO]]), the Bothell, WA-based developer of portable ultrasound machines, said today it may spend as much as $50 million to buy back shares of its stock. The company may make purchases in private structured deals, or on the open market, at prices it said it considers appropriate. Earlier this year, SonoSite had another … Continue reading “SonoSite Plans $50M Stock Buyback”
Aastrom Shows Off Vascular Results
Aastrom Biosciences, the Ann Arbor, MI-based developer of cell therapies for cardiovascular diseases, is presenting some new data on a clinical trial of its method against critical limb ischemia, a complication of clogged arteries that often leads to amputation and death. Detailed results from half of the first 90 patients are being presented today at … Continue reading “Aastrom Shows Off Vascular Results”
ZymoGenetics Gets Upstaged, Calistoga Cancer Drug Matures, Cramer Replaces Kraemer, & More Seattle-Area Life Sciences News
This was a big biotech news week with the annual extravaganza for cancer drug developers, the American Society of Clinical Oncology (ASCO). Nobody from Seattle stood out on the world stage this year, although we heard about some people laying important groundwork for future ASCOs. —ZymoGenetics, the granddaddy of Seattle biotech, has had some bad … Continue reading “ZymoGenetics Gets Upstaged, Calistoga Cancer Drug Matures, Cramer Replaces Kraemer, & More Seattle-Area Life Sciences News”
Otonomy Pockets $10M For Hearing Loss
Hearing loss and other diseases of the ear affect millions of people, but that hasn’t translated into millions of dollars for biotech entrepreneurs. But that may be changing, as San Diego-based Otonomy has collected an initial round of $10.5 million in venture capital. The financing in Otonomy (Oh-TAWN-uh-me) could be worth as much as $26 … Continue reading “Otonomy Pockets $10M For Hearing Loss”
Wings Replaces Kraemer With Cramer, Adding Elder Statesman of Northwest Life Sciences
Kirby Cramer probably has the most diversified track record of success in life sciences entrepreneurship of anybody in the Northwest. Now he’s putting some of his time and money into strengthening Wings, the budding angel investing network for medical device startups. “We are blessed in the Northwest to have hundreds of medical device entrepreneurs,” Cramer … Continue reading “Wings Replaces Kraemer With Cramer, Adding Elder Statesman of Northwest Life Sciences”
Asemblon, Hydrogen Fuel Startup, Finds Ally in Schwarzenegger’s Favorite Big Rig Maker
Hydrogen-powered cars and trucks are supposed to be cheaper and greener to run than anything today. It’s one of those big cleantech ideas that always seems to be five years away from the market. Yet Asemblon, a little Redmond, WA-based company on a quest to make this dream practical, took a small step forward recently … Continue reading “Asemblon, Hydrogen Fuel Startup, Finds Ally in Schwarzenegger’s Favorite Big Rig Maker”
AVI Biopharma Gets $18M Flu Contract
AVI Biopharma (NASDAQ: [[ticker:AVII]]), the Bothell, WA-based developer of RNA-based therapies, said today it has been awarded a U.S. defense contract that could be worth as much as $18 million to develop a treatment against pandemic H1N1 flu. The money is supposed to support development of AVI-7100 as a nasal spray formulation, and to pay … Continue reading “AVI Biopharma Gets $18M Flu Contract”
CombiMatrix Directors Resign
CombiMatrix (NASDAQ: [[ticker:CBMX]]), the Mukilteo, WA-based maker of genetic analysis and diagnostic tools, said today that two members of its board have resigned. Chairman Tom Akin, a large shareholder in the company, is stepping down from the board, along with Brooke Anderson, who is also resigning his full-time role as chief operating officer as the … Continue reading “CombiMatrix Directors Resign”
Ekos Wins $2.7M NIH Grant
Ekos, the Bothell, WA-based company that uses ultrasound to treat vascular diseases, said today it has received a $2.7 million grant from the National Institutes of Health to study its method of treating hemorrhagic strokes. About 100,000 patients in the U.S. have this condition, in which a blood vessel ruptures in the brain and creates … Continue reading “Ekos Wins $2.7M NIH Grant”
XSITE’s Biotech Gurus to Cover the State of New England Biotech, the Return of Platforms
Boston is probably the best place in the world to start a biotech company today, and, yes, I’ve been studying the San Francisco Bay Area a lot lately, as the Globe’s Scott Kirsner reported last week. Strong as Boston may be, the biotech industry still has a lot of systemic issues to deal with, like … Continue reading “XSITE’s Biotech Gurus to Cover the State of New England Biotech, the Return of Platforms”
Calistoga Pharmaceuticals Builds Stronger Case for Blood Cancer Drug
Calistoga Pharmaceuticals has come a long way in one year. The Seattle-based biotech company made its first ripple on the national scene last year at the American Society of Clinical Oncology (ASCO), when it showed its novel drug for blood cancers caused tumor shrinkage in half of the first dozen patients tested. This year at … Continue reading “Calistoga Pharmaceuticals Builds Stronger Case for Blood Cancer Drug”
Alder Reduces Anemia in Cancer Study
Alder Biopharmaceuticals, the Bothell, WA-based developer of targeted antibody drugs against cancer and inflammation, said today its lead product candidate was effective against anemia for more than half of advanced cancer patients in a trial. The study, of 124 patients, randomly assigned patients to take Alder’s ALD518 or a placebo. About 58 percent of patients … Continue reading “Alder Reduces Anemia in Cancer Study”
ZymoGenetics Melanoma Drug Passes Small Study, Gets Overshadowed by Bristol-Myers
[Updated: 2:30 pm Pacific] ZymoGenetics just can’t seem to catch a break. The Seattle-based biotech company has some positive, albeit preliminary, data out today on its experimental treatment for melanoma that has spread throughout the body—one of the toughest forms of cancer to treat. But ZymoGenetics (NASDAQ: [[ticker:ZGEN]]) had the misfortune to be upstaged big-time … Continue reading “ZymoGenetics Melanoma Drug Passes Small Study, Gets Overshadowed by Bristol-Myers”
Seattle Genetics Shows Re-Treatment Action
Seattle Genetics (NASDAQ: [[ticker:SGEN]]) and Cambridge, MA-based Millennium: The Takeda Oncology Company said today that their “empowered antibody” for blood cancers showed promising results in a small study of patients who were re-treated following a relapse. The study found that seven of 11 patients with Hodgkin’s disease or anaplastic large cell lymphoma had at least … Continue reading “Seattle Genetics Shows Re-Treatment Action”
Tolera Therapeutics, Cleveland Clinic Spinoff Focused on Immune Disorders, Raises $4M
Tolera Therapeutics was named one of Michigan’s top 50 companies to watch this spring, and now it has raised more capital to pursue its idea for making effective new drugs against immune system disorders. The company, based in Kalamazoo, MI, has nailed down about $4.1 million out of an equity financing round that could be … Continue reading “Tolera Therapeutics, Cleveland Clinic Spinoff Focused on Immune Disorders, Raises $4M”
Trubion Wins Genentech, Biogen Patent Case
Seattle-based Trubion Pharmaceuticals (NASDAQ: [[ticker:TRBN]]), the developer of targeted therapies for cancer and autoimmune diseases, said today it has won a patent dispute against Genentech and Biogen Idec. The dispute centers on targeted therapies designed to block a marker on cells, CD20, which is currently hit by Genentech and Biogen Idec’s rituximab (Rituxan). Trubion, which … Continue reading “Trubion Wins Genentech, Biogen Patent Case”
Arena Adds $35M From Deerfield
Arena Pharmaceuticals (NASDAQ: [[ticker:ARNA]]), the San Diego-based developer of an experimental obesity drug, said today it has raised $35.5 million through an equity financing from Deerfield Management. Arena agreed to sell 11 million shares to Deerfield at $3.23 apiece, the equivalent of yesterday’s closing stock price. Arena is getting ready for an important meeting of … Continue reading “Arena Adds $35M From Deerfield”
Amgen Gets FDA Approval, SonoSite’s New Frontier, Craig Venter’s Enabler, & More Seattle-Area Life Sciences News
Quite a few Seattle biotechies are quietly gearing up for the always-important American Society of Clinical Oncology meeting from June 4 to 8 in Chicago. Combine that with a holiday weekend, and the local life sciences news was a little light for Xconomy Seattle. —One of the big national headlines this week came when Amgen … Continue reading “Amgen Gets FDA Approval, SonoSite’s New Frontier, Craig Venter’s Enabler, & More Seattle-Area Life Sciences News”
Life Tech Bets $10M on Synthetic Genomics
[Updated: 12:15 pm, 6/3/10] Life Technologies (NASDAQ: [[ticker:LIFE]]), the Carlsbad, CA-based maker of lab supplies and instruments, has invested $10 million out of an equity financing that could be worth as much as $50 million for San Diego-based Synthetic Genomics, the startup co-founded by genomics pioneer J. Craig Venter, according to a regulatory filing. Synthetic … Continue reading “Life Tech Bets $10M on Synthetic Genomics”
Arena FDA Panel Set for Sept. 16
Arena Pharmaceuticals (NASDAQ: [[ticker:ARNA]]), the San Diego-based developer of a new obesity drug, said today that the FDA has notified the company of tentative plans for an advisory committee meeting to discuss its treatment on September 16. Arena first sought clearance from the FDA to start selling lorcaserin in the U.S. in December, and the … Continue reading “Arena FDA Panel Set for Sept. 16”
Aastrom Biosciences Seeks to Catch Cell Therapy Wave, Ride Dendreon’s Coattails
Dendreon blazed a new trail in late April when it won FDA approval of a treatment to actively stimulate a patient’s own immune cells to fight prostate cancer. Now lots of companies are casting themselves as the next Dendreon, with gee-whiz biotechnology on the verge of a breakout. One of them is Ann Arbor, MI-based … Continue reading “Aastrom Biosciences Seeks to Catch Cell Therapy Wave, Ride Dendreon’s Coattails”
Seattle Sensor Systems, Reborn in Twist of Fate, Spots Food Pathogens with a Little Box
Sometimes a startup is born when a couple of old friends bump into each other after years of going their separate ways. That’s what happened in February for Seattle Sensor Systems, when Carole Spangler e-mailed University of Washington genomics researcher Clem Furlong to ask him a scientific question and to catch up personally. He wrote … Continue reading “Seattle Sensor Systems, Reborn in Twist of Fate, Spots Food Pathogens with a Little Box”
Amgen’s Dmab Wins FDA Approval
Amgen (NASDAQ: [[ticker:AMGN]]) has received clearance from the U.S. FDA to start selling denosumab (Prolia) as a treatment for women with osteoporosis. The drug, an injection taken every six months, works to decrease the destruction of bone and increase bone mass and strength, according to an FDA statement. The drug was approved ahead of schedule, … Continue reading “Amgen’s Dmab Wins FDA Approval”
Tetraphase Nails $45M Round to Test Pipeline of New Antibiotics
Tetraphase Pharmaceuticals is coming back to work with a bang after the holiday weekend. The Watertown, MA-based company has raised $45 million in a Series C venture round to support a trio of new antibiotics that are designed to be tougher for bugs to resist. A new investor, Excel Venture Management, is leading the deal. … Continue reading “Tetraphase Nails $45M Round to Test Pipeline of New Antibiotics”
SonoSite’s New Frontier: High-Res Ultrasound to See a Mouse Heartbeat, the Inside of Your Blood Vessels, & More
SonoSite looked like it was out of ideas. Why, after all, would the maker of portable ultrasound machines spend $89 million of hard-earned cash to buy back shares a couple months ago? That’s one of those time-honored financial engineering tricks that companies often do when they don’t have any promising new products to boost sales, … Continue reading “SonoSite’s New Frontier: High-Res Ultrasound to See a Mouse Heartbeat, the Inside of Your Blood Vessels, & More”
Ending the Suspense, Celladon’s Gene Therapy Helps Heart Failure Patients in Small Study
Gene therapy has never lived up to two decades of hype, but some intriguing new evidence for the technology emerged over the weekend at a medical meeting in Berlin. That was where San Diego-based Celladon unveiled results from a clinical trial—albeit a small one—that offers the first sign that gene therapy might help people suffering … Continue reading “Ending the Suspense, Celladon’s Gene Therapy Helps Heart Failure Patients in Small Study”
Life Tech Buys Majority of Geneart
Life Technologies, the Carlsbad, CA-based company that makes instruments and lab supplies for biologists, said today it has acquired a 74 percent ownership stake in Germany-based Geneart through a tender offer to the smaller company’s shareholders. Geneart is one of five small companies around the world that specialize in synthesizing custom-ordered genes for use in … Continue reading “Life Tech Buys Majority of Geneart”