NanoString Technologies just started selling its first diagnostic test after 10 years in business, and now it’s getting ready for another milestone—an initial public offering. The Seattle-based company said today that it is seeking to raise as much as $86.3 million in an IPO, according to a prospectus filed with the Securities and Exchange Commission. … Continue reading “NanoString Technologies Maneuvers In Line for $86M IPO”
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.
Zillions of Biotech Conferences Want You. Which Should You Attend?
Biotech industry conferences are happening, somewhere on this green Earth, every day. If you’ve been around a while, and you’ve attended a few, chances are you get invitations, or marketing pitches, that ask you to attend a different meeting every day. If you’re new to the business, you may not be on all the lists. … Continue reading “Zillions of Biotech Conferences Want You. Which Should You Attend?”
Check KUOW’s “Weekday” for Science News
Science news often falls into the trap of becoming “infotainment” designed to generate ratings, and little else. As one essayist in The Guardian recently put it, “freaky copulation techniques in the animal kingdom,” heart-warming tales of miracle cures for kids, or creepy sci-fi robots are often what pass for science news when so many media … Continue reading “Check KUOW’s “Weekday” for Science News”
Matrix Genetics Emerges from Algae Biofuel Wilderness With a Partner
Matrix Genetics is one of those startups that never really got off the ground in its early days, but never died, either. While the Seattle-based company lived on fumes at various points over the past four years, it saw other contenders in the algae biofuel business rise, and fall. Now Matrix has stayed in the … Continue reading “Matrix Genetics Emerges from Algae Biofuel Wilderness With a Partner”
Genentech Follows Fast at ASCO as Cancer Immunotherapy Picks Up
Genentech made its name in cancer by creating targeted antibody drugs that zero in on tumor cells while mostly sparing healthy tissue. Now it’s seeking to compete in the next wave of cancer immunotherapies, which are designed to spark the immune system to attack tumors like a virus. South San Francisco-based Genentech, a unit of … Continue reading “Genentech Follows Fast at ASCO as Cancer Immunotherapy Picks Up”
Genentech Cancer Antibody, Son of Rituxan, Nails Pivotal Study
Genentech has been searching for years to find a way to improve upon rituximab (Rituxan), which set a gold standard 15 years ago as part of the first generation of targeted antibody cancer drugs. Now it looks like Genentech has finally nailed a new and patented version to keep the franchise going for many more … Continue reading “Genentech Cancer Antibody, Son of Rituxan, Nails Pivotal Study”
Henri Termeer on Startups, Drug Prices, Getting Older (Part 2)
Yesterday, we ran the first part of a wide-ranging interview with Henri Termeer, the legendary biotech entrepreneur and former CEO of Cambridge, MA-based Genzyme. He spoke about what kinds of startups he likes to get involved in, the trend toward drug companies working on rare diseases, and efforts to repair pharma’s damaged reputation. Today, he … Continue reading “Henri Termeer on Startups, Drug Prices, Getting Older (Part 2)”
Henri Termeer on Startups, Drug Prices, Getting Older (Part 1)
Henri Termeer could have easily faded away into obscurity a couple years ago. The biotech pioneer could have relaxed at his oceanside home in Maine, played a little golf. Or, if he wanted, he could have made loads of money at a private equity firm. Certainly, he didn’t need to mess around with hungry little … Continue reading “Henri Termeer on Startups, Drug Prices, Getting Older (Part 1)”
Dunsire Out at Millennium as Takeda Reorganizes, Cuts Costs
[Updated: 10:25 pm ET] Deborah Dunsire, the CEO who led Millennium Pharmaceuticals to prominence in cancer treatment, is leaving the company in an abrupt departure five years after it was acquired by Japan-based Takeda Pharmaceuticals. Dunsire exits as the company is seeking to merge operations around the globe and cut costs as it braces for … Continue reading “Dunsire Out at Millennium as Takeda Reorganizes, Cuts Costs”
Dendreon Shares Fall Again, as Provenge Sales Slump
Dendreon has made a habit of disappointing investors, and it did so again today. The Seattle-based biotech company (NASDAQ: [[ticker:DNDN]]) said today it generated $67.6 million in first quarter sales of sipuleucel-T (Provenge), down a whopping 17.6 percent from the $82 million in sales it reported for the same period a year ago. The company, … Continue reading “Dendreon Shares Fall Again, as Provenge Sales Slump”
Genomic Health Test Aims To Cut Overtreatment of Prostate Cancer
Many men in the U.S. hear the words “prostate cancer” and freak out. They want to fight. But a lot of times, the aggressive treatments they demand are unnecessary, expensive, and cause all kinds of unhappy side effects like incontinence and impotence. Sometimes the tumors are destined to grow so slowly that these men will … Continue reading “Genomic Health Test Aims To Cut Overtreatment of Prostate Cancer”
Lessons For Drug Development From The Aveo Buzzsaw
Drug development is a tough business. Small companies that dare to try often end up in public train wrecks when they head to Washington to meet the FDA. It’s a shame, a colossal waste, every time a company gets that far and stumbles. And it doesn’t have to be that way. The folks at Cambridge, … Continue reading “Lessons For Drug Development From The Aveo Buzzsaw”
NW Biotech Education Group Faces Loss of Federal Money, Deep Cuts
The Northwest Association for Biomedical Research (NWABR), a nonprofit that fosters science education and public understanding of research in Washington, Oregon, and Idaho, is contemplating the deepest cuts in the organization’s history, as it expects to lose about half of its annual budget because of federal spending cuts. The Seattle-based organization, which reported a $1.2 … Continue reading “NW Biotech Education Group Faces Loss of Federal Money, Deep Cuts”
Savara Enters the Proving Ground With Inhalable Antibiotic for CF
Patients with cystic fibrosis can expect to live until their late 30s or early 40s. It’s a big improvement over the life expectancy they had a decade or two ago. But now a biotech startup in Austin, TX, has put itself into position to find out, in the next year, if it has another way … Continue reading “Savara Enters the Proving Ground With Inhalable Antibiotic for CF”
Natera Grabs $55M For Push into Prenatal Genetic Screening
Two months after jumping into the market with a non-invasive prenatal screening test for Down syndrome and other genetic disorders, San Carlos, CA-based Natera is raising a lot of investment cash to seize the opportunity. Natera is announcing today it has raised $54.6 million in a Series E financing composed of a mix of equity … Continue reading “Natera Grabs $55M For Push into Prenatal Genetic Screening”
Qiagen Buys Ingenuity Systems, Biology Software Player, for $105M
Ingenuity Systems, a 15-year veteran of the biological software business, showed today that you can make money not just by generating DNA data, but by helping scientists figure out what it means. Redwood City, CA-based Ingenuity said today it has agreed to be acquired by Netherlands-based Qiagen for $105 million in cash. Ingenuity, a private … Continue reading “Qiagen Buys Ingenuity Systems, Biology Software Player, for $105M”
Six Reasons Why Illumina Has Nothing to Fear from Thermo/Life
Illumina doesn’t need luck. But the San Diego-based company just caught a break this month, which will make it easier to continue crushing all who dare challenge its supremacy in genomics. The gift I’m referring to was the mega-merger a couple weeks ago between Waltham, MA-based Thermo Fisher Scientific (NYSE: [[ticker:TMO]]) and Carlsbad, CA-based Life … Continue reading “Six Reasons Why Illumina Has Nothing to Fear from Thermo/Life”
Forma Strikes $200M Deal With Celgene to Discover Cancer Drugs
Forma Therapeutics has never had trouble finding partners who want access to its early-stage drug discovery team, when most companies are cutting back there. But the Watertown, MA-based company is entering into a different kind of deal with Celgene that could turn Forma into a bigger enterprise that discovers, develops, to someday markets its own … Continue reading “Forma Strikes $200M Deal With Celgene to Discover Cancer Drugs”
Gen9, Synthetic Biology Startup, Snags $21M from Agilent
[Updated: 1:15 pm ET] Scientists have been able to order up custom-synthesized genes on demand for quite a few years now. But if synthetic biology is going to move beyond small lab experiments and disrupt whole industries like its proponents say, it needs to get faster, cheaper, and larger-scale. One startup in the field, Gen9, … Continue reading “Gen9, Synthetic Biology Startup, Snags $21M from Agilent”
Biotech Execs Aren’t Ready to Prove Drugs Have Value, E&Y Says
The U.S. Supreme Court upheld the Affordable Care Act last year as constitutional. President Obama won re-election. After years of runaway spending on healthcare, the well established policy on healthcare in this country is that access needs to go up, and costs need to come down. While many other groups are coming to terms with … Continue reading “Biotech Execs Aren’t Ready to Prove Drugs Have Value, E&Y Says”
Bind Therapeutics, AstraZeneca Collaborate on Cancer Drug
A little less than four months into 2013, and Bind Therapeutics has already struck its third partnership. Cambridge, MA-based Bind Therapeutics said today it has formed a collaboration with London-based AstraZeneca to co-develop and co-market a cancer drug candidate that uses Bind’s proprietary nanoparticle delivery technology. Bind stands to collect as much as $69 million … Continue reading “Bind Therapeutics, AstraZeneca Collaborate on Cancer Drug”
A Biotech Innovation Supply Chain: Reality or Fantasy?
Biotech has always been a bit like an open-air market bazaar. Now the industry needs to become a little more stable, more predictable. It ought to be part of something you could call an “innovation supply chain.” At least, that’s the view of Noubar Afeyan, the managing partner of Cambridge, MA-based Flagship Ventures. Biotech is … Continue reading “A Biotech Innovation Supply Chain: Reality or Fantasy?”
Vertex Pharmaceuticals Booms on Cystic Fibrosis Combo Drug Study
[Updated: 12:55 pm ET 4/19] Vertex Pharmaceuticals isn’t willing to settle for coming up with one great drug for 4 percent of patients with cystic fibrosis. The Cambridge, MA-based company wants to treat a whole lot more children and adults with this deadly genetic disease, and today it offered some more evidence that it’s on … Continue reading “Vertex Pharmaceuticals Booms on Cystic Fibrosis Combo Drug Study”
UW Spinoff Impel Neuropharma Passes Key Nose-to-Brain Clinical Trial
Seattle-based Impel Neuropharma has been working for five years to show it can quickly deliver drugs through the nose, directly to the brain, for the treatment of central nervous system disorders. The animal data so far has been encouraging, but now the company has got key confirmation that it can do its thing in human … Continue reading “UW Spinoff Impel Neuropharma Passes Key Nose-to-Brain Clinical Trial”
Alkermes Stock Climbs on Positive Trial for Depression Drug
Investors weren’t expecting Alkermes to do anything big this year to help people deal with major bouts with depression. But today the Dublin, Ireland and Waltham, MA-based company showed it just may be onto something important for this form of mental illness. Shares of the company climbed more than 15 percent on Alkermes’ latest clinical … Continue reading “Alkermes Stock Climbs on Positive Trial for Depression Drug”
UW Spinout, Beat Bio, Gets $2.5M to Treat Heart Failure
[Updated: 3:15 pm PT 4/17] Beat Biotherapeutics looked like it was in trouble after its co-founder and CEO died suddenly in June 2009. But the University of Washington spinout is definitely back in business, after recruiting a veteran CEO and raising another $2.5 million to advance an experimental treatment for heart failure. The Seattle-based company said … Continue reading “UW Spinout, Beat Bio, Gets $2.5M to Treat Heart Failure”
Meet Ben Fidler, Xconomy’s New East Coast Biotech Editor
Today is the IRS tax filing deadline, which is a bummer for some people. But it’s a very exciting day here at Xconomy. It’s my pleasure to announce that today is the first full day on the job for Ben Fidler, our new East Coast Biotech Editor. Ben joins us after spending the last nine … Continue reading “Meet Ben Fidler, Xconomy’s New East Coast Biotech Editor”
Big Data Is BS in Healthcare. When Will It Become Real?
Tech entrepreneurs have been raving for a while now about big data changing the world, and it’s mostly bullshit. Venture capitalist Brad Feld made this point, more or less, when he was being purposely provocative at an Xconomy event last fall. As a biotech journalist, I wanted to cheer “Preach On, Brother Feld!” Doctors are … Continue reading “Big Data Is BS in Healthcare. When Will It Become Real?”
Biotech in the Belt-Tightening Era: The Photos
Healthcare costs can’t keep going up faster than inflation forever. Biotech companies aren’t going to have unlimited pricing power for new drugs and diagnostics forever. Innovators will have to adjust. But how? This was the theme of our big Xconomy Seattle event this week, “Biotech in the Belt-Tightening Era.” We had a great crowd from … Continue reading “Biotech in the Belt-Tightening Era: The Photos”
Syros, a Whitehead and Dana-Farber Spinoff, Snags $30M For Cancer
Not many biotech startups are able to scrape together a $30 million venture round right out of the gate. But it’s happening today to a little company in Watertown, MA, with some edgy science from researchers at the Whitehead Institute and Dana-Farber Cancer Institute. The startup, Syros Pharmaceuticals, is announcing today it has raised that … Continue reading “Syros, a Whitehead and Dana-Farber Spinoff, Snags $30M For Cancer”
See Clay Siegall, Kim Popovits, Mitch Gold This Afternoon
We’re getting ready to head over to Northeastern University’s new South Lake Union office later this afternoon for our big spring life sciences event, “Biotech in the Belt-Tightening Era.” Registration starts at 1 pm, and while more than 170 people are signed up, there is still some room to get tickets at the door. There … Continue reading “See Clay Siegall, Kim Popovits, Mitch Gold This Afternoon”
Boston Biotech Seizes the Momentum: The Photos
New York is the place to build a career in finance. LA is the place for entertainment. And now Greater Boston is increasingly becoming the hottest place for all things biotech. This story has been evolving for decades, and Boston/Cambridge/Waltham et al. spent many of those years as a respected No. 2 hub behind San … Continue reading “Boston Biotech Seizes the Momentum: The Photos”
The Brain Map Shouldn’t Get $100M a Year. It Should Get Much More
The human brain, as Francis Collins recently said, “is the most complicated organ in the universe.” We only have vague ideas today of how it works at the level of genes, and neural circuits. Deeper understanding could help us unravel some of today’s great mysteries, from autism to Alzheimer’s to epilepsy. The sequencing of the … Continue reading “The Brain Map Shouldn’t Get $100M a Year. It Should Get Much More”
Bind Therapeutics Reels Pfizer into Nanomedicine Partnership
Cambridge, MA-based Bind Therapeutics changed its name earlier this week to ditch the word “biosciences,” because it wants to the show the world it’s not just all about science—it’s morphing into a science-based drug company. Now it has another deal with a very big drugmaker that could help it achieve that goal. Bind is announcing … Continue reading “Bind Therapeutics Reels Pfizer into Nanomedicine Partnership”
Adaptive Biotechnologies Reaches Fork in the Road. What to Charge?
Chad Robins has a problem that all entrepreneurs hope to face someday. It’s a sign that his company has passed some key tests in R&D. He needs to figure out how much he should charge for his company’s new diagnostic test for patients with leukemia and lymphoma. Robins, the co-founder and CEO of Seattle-based Adaptive … Continue reading “Adaptive Biotechnologies Reaches Fork in the Road. What to Charge?”
Gilead Sciences Building on HIV, Becoming Cancer Drug Force
Gilead Sciences has had what you could call a “high-class problem” the last few years. Biotech companies that are great at one thing eventually must prove they can be great at something else. And Gilead is showing signs that it’s finally on its way to becoming a truly diversified biotech industry leader, with a plan … Continue reading “Gilead Sciences Building on HIV, Becoming Cancer Drug Force”
Biogen Idec Wins FDA Approval For Oral Multiple Sclerosis Drug
[Updated: 3/29/13, 1:40 pm ET] Biogen Idec, already the world’s largest maker of multiple sclerosis drugs, has been eagerly awaiting the green light to start selling its next big thing—its first oral pill for MS. Today, the FDA gave that all-important go-ahead. The Weston, MA-based biotech company (NASDAQ: [[ticker:BIIB]]) won clearance to sell dimethyl fumarate (Tecfidera) … Continue reading “Biogen Idec Wins FDA Approval For Oral Multiple Sclerosis Drug”
How to Make the Payers Pay: Join the Xconomy Event April 9
How will your company convince payers that they should pay for that new health innovation you’ve been developing for years? Do you have the data to prove your drug or device is worth the price you plan to charge? If you don’t, do you at least have a plan to get the bulletproof evidence it … Continue reading “How to Make the Payers Pay: Join the Xconomy Event April 9”
Q&A With Bob Tepper on What’s Next for Third Rock Ventures
Third Rock Ventures had the biotech industry buzzing yesterday. It raised its third fund, worth $516 million, to invest in early-stage biotech drug, device, and diagnostic companies. While many biotech VCs are winding down operations or switching to late-stage investing strategies to show quick returns, Boston and San Francisco-based Third Rock has moved in the … Continue reading “Q&A With Bob Tepper on What’s Next for Third Rock Ventures”
Theraclone Secures $14M to Push Antibody Drug Programs
Seattle-based Theraclone Sciences has raised another $14 million to support its antibody drug R&D programs. Theraclone said today it has secured $8 million in equity financing and $6 million in venture debt. The equity came from its existing investors Arch Venture Partners, Canaan Partners, MPM Capital, Healthcare Ventures, Alexandria Real Estate Equities, Versant Ventures, and … Continue reading “Theraclone Secures $14M to Push Antibody Drug Programs”
Third Rock Stocks Up With $516M New Fund, Looks to Start 16 Cos
Third Rock Ventures has spent the last six years betting big on early stage biotech investing when most other VC firms have been hunkering down or getting out of healthcare investing altogether. Now Third Rock has been rewarded with another $516 million to keep doing what it’s been doing. The Boston and San Francisco-based firm, … Continue reading “Third Rock Stocks Up With $516M New Fund, Looks to Start 16 Cos”
Biotech VCs Aren’t Lemmings Anymore. They’re Lone Rangers
A certain song has been running through my head the past few days. Lately, it strikes me as an anthem of sorts for biotech venture capital in 2013. It’s Fleetwood Mac’s classic break-up song, “Go Your Own Way.” Allow me to explain. Biotech venture capital has been going through a shakeout now for a couple … Continue reading “Biotech VCs Aren’t Lemmings Anymore. They’re Lone Rangers”
Cerulean Pharma Fails to Extend Lives in Lung Cancer Study
Cambridge, MA-based Cerulean Pharma spent a lot of time and money trying to get the answer to an important question—whether its new drug could extend the lives of terminally ill lung cancer patients. The answer isn’t good. Cerulean, the developer of a nanoparticle technology for delivering toxic chemotherapy to cancer cells, said today that its … Continue reading “Cerulean Pharma Fails to Extend Lives in Lung Cancer Study”
Enanta, Tetraphase Go Public in Boston Biotech IPO Madness
If Boston biotech were playing in this week’s NCAA men’s basketball tournament, it would have to be a No. 1 seed. It’s not every week that a region gets to claim that two of its biotech companies went public, and neither one immediately crashed. This week, the local cluster saw two little companies from Watertown, … Continue reading “Enanta, Tetraphase Go Public in Boston Biotech IPO Madness”
AstraZeneca Shells Out $240M Upfront For Moderna mRNA Drugs
The new CEO of AstraZeneca, Pascal Soriot, has just written a huge check, worth $240 million in upfront cash. It’s going to a little biotech startup in Cambridge, MA, that started a couple years ago with a far-out idea for making drugs in a fast, cheap, and completely unorthodox way. London-based AstraZeneca (NYSE: [[ticker:AZN]]) is … Continue reading “AstraZeneca Shells Out $240M Upfront For Moderna mRNA Drugs”
Blueprint Medicines Combs Through Genome for the Next Gleevec(s)
Gleevec is like the proverbial shining city on the hill in the pharmaceutical business. When it was first approved in 2001, it beat the long odds of drug development, becoming one of the first targeted cancer therapies. It lived up to the hype, turning a deadly form of cancer into a chronic illness. Even though … Continue reading “Blueprint Medicines Combs Through Genome for the Next Gleevec(s)”
Affymax Cuts 230 Jobs, Mulls Bankruptcy, After Drug Withdrawal
Big cuts were inevitable at Affymax the past few weeks, and confirmation came today. Palo Alto, CA-based Affymax (NASDAQ: [[ticker:AFFY]]) said today that the company is cutting 230 people from its payroll, about 75 percent of its workforce. The job cuts affected people in the company’s commercial side and medical affairs, as well as other … Continue reading “Affymax Cuts 230 Jobs, Mulls Bankruptcy, After Drug Withdrawal”
Why Are Healthcare Costs Exploding? See Proton Cancer Therapy
Whenever a new medical technology comes out in the U.S., a few things happen. Doctors, hospitals, the media, and, of course, the drug and device makers cheer. Newer technology must always be better, right? Never mind if it costs a little extra. We’re talking about a patient’s life and well-being, after all. But when we … Continue reading “Why Are Healthcare Costs Exploding? See Proton Cancer Therapy”
Allozyne Conducts Round of Employee ‘Furloughs’
Seattle-based Allozyne, one of the promising biotech drug developers to graduate from the venture-backed Accelerator, recently conducted a small round of employee furloughs. Allozyne made the latest round of reductions to its payroll a little more than a year after another round of job cuts that I reported here in January 2012. CEO Meenu Chhabra … Continue reading “Allozyne Conducts Round of Employee ‘Furloughs’”
GlaxoSmithKline Shuts Down Sirtris, Five Years After $720M Buyout
[Updated 2:25 pm ET, 3/13/13] GlaxoSmithKline is closing down Cambridge, MA-based Sirtris Pharmaceuticals, almost five years after it paid $720 million to acquire the hot biotech with a plan to fight diseases of aging. London-based Glaxo (NYSE: [[ticker:GSK]]) is shutting the Cambridge, MA Sirtris facility, and plans to offer transfers to the Philadelphia area for … Continue reading “GlaxoSmithKline Shuts Down Sirtris, Five Years After $720M Buyout”