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.

SonoSite Spends $89M on Share Buyback

SonoSite (NASDAQ: [[ticker:SONO]]), the Bothell, WA-based maker of portable ultrasound machines, said today it has agreed to pay $88.8 million to buy back 2.96 million shares at $30 apiece. That represents about 16.9 percent of the company’s outstanding shares, and leaves it with about 14.5 million shares outstanding. The deal was managed by JP Morgan … Continue reading “SonoSite Spends $89M on Share Buyback”

OncoGenex CFO Exits

OncoGenex Pharmaceuticals,  the Bothell, WA-based developer of a prostate cancer drug, said today that its chief financial officer, Stephen Anderson, left the company yesterday. OncoGenex (NASDAQ: [[ticker:OGXI]]) is searching for a replacement, who is “suited for the next stage of company growth, with deep ties in the biopharma investment community and experience transitioning a pharmaceutical … Continue reading “OncoGenex CFO Exits”

FDA Diabetes Drug Review Slowed by Snow

San Diego-based Amylin Pharmaceuticals (NASDAQ: [[ticker:AMLN]]), along with partners Eli Lilly and Waltham, MA-based Alkermes (NASDAQ: [[ticker:ALKS]]), said today that the FDA deadline for reviewing a once-weekly injectable diabetes drug has been pushed back one week, to March 12, because of the mid-Atlantic snowstorm earlier this month. If approved, analysts expect the drug, exenatide once-weekly, … Continue reading “FDA Diabetes Drug Review Slowed by Snow”

Regulus, the MicroRNA Child of Isis and Alnylam, Strikes Potential $150M Deal with Glaxo

Two years have passed since GlaxoSmithKline anointed a startup called Regulus Therapeutics as a leader in the bleeding-edge world of microRNA drugs, and now the pharma giant has made clear it likes what it sees so far. Regulus, a Carlsbad, CA-based spinoff from neighboring Isis Pharmaceuticals and Cambridge, MA-based Alnylam Pharmaceuticals, is announcing today it … Continue reading “Regulus, the MicroRNA Child of Isis and Alnylam, Strikes Potential $150M Deal with Glaxo”

Dendreon Spending Big Bucks, Gilead Gets FDA Nod, NanoString Thinking Diagnostics, & More Seattle-Area Life Sciences News

Seattle biotech had more than the usual flow of good news this week. —The top executives at Seattle-based Dendreon provided a detailed overview to analysts this week about their plans for the year ahead. Dendreon is planning to spend $460 million of its cash hoard on the commercial push for sipuleucel-T (Provenge), a first-of-its-kind immune … Continue reading “Dendreon Spending Big Bucks, Gilead Gets FDA Nod, NanoString Thinking Diagnostics, & More Seattle-Area Life Sciences News”

Anadys Hepatitis C Drug Increases Punch Over Time (But So Does Placebo)

San Diego-based Anadys Pharmaceuticals reports that its hepatitis C drug appears to get better at wiping out the virus over time, although the company will have some explaining to do about why patients on a placebo appear to be doing almost as well. Anadys (NASDAQ: [[ticker:ANDS]]) is announcing today that its lead product candidate, ANA598, … Continue reading “Anadys Hepatitis C Drug Increases Punch Over Time (But So Does Placebo)”

3Tier Group Finishes Map of the World’s Wind, Solar Energy Hotspots

Seattle-based 3Tier Group set an audacious goal two years ago of remapping the world to find the best spots to generate solar and wind power, and now it’s done. Of course, that means it’s time for 3Tier to show this information is truly valuable to customers. 3Tier finished its map of the world’s wind currents … Continue reading “3Tier Group Finishes Map of the World’s Wind, Solar Energy Hotspots”

Ocera Cheers from the Bleachers As Rival Succeeds with New Drug for Brain Damage

Sometimes in biotech you have to root for your biggest competitors to succeed. That’s why yesterday was a very good day for the folks at San Diego-based Ocera Therapeutics. The big news came out yesterday from suburban Washington D.C., where an FDA advisory panel recommended that regulators approve a new drug from Morrisville, NC-based Salix … Continue reading “Ocera Cheers from the Bleachers As Rival Succeeds with New Drug for Brain Damage”

Amylin, Takeda Advance Obesity Drug

San Diego-based Amylin Pharmaceuticals (NASDAQ: [[ticker:AMLN]]), along with its partner Takeda Pharmaceuticals, said late Monday that their experimental combination of metreleptin and pramlintide is being primed for final-stage Phase III clinical development for obesity. The decision was made after Amylin and Takeda reviewed data from a full 52 weeks of follow up from patients, which … Continue reading “Amylin, Takeda Advance Obesity Drug”

Sage Bionetworks Snaps Up $6.7M Grant to Train Young Network Biologists

Sage Bionetworks, a fledgling Seattle nonprofit attempting to launch an open-source biology movement, has nabbed a $6.7 million grant from the National Cancer Institute to train young scientists to learn to better use genomic data to help improve drug discovery and patient care. The grant lasts for four years, and it may be supplemented and … Continue reading “Sage Bionetworks Snaps Up $6.7M Grant to Train Young Network Biologists”

Celldex CEO Treks From NJ to Massachusetts in Pursuit of Antibody Drugs for Cancer

Every other week, Celldex Therapeutics CEO Anthony Marucci drives four hours and 15 minutes from home in northern New Jersey to his company’s headquarters in Needham, MA. He’s racked up 60,000 miles on his Mercedes-Benz E-class going back and forth. It sounds like the sort of extreme measure an executive might take on a temporary … Continue reading “Celldex CEO Treks From NJ to Massachusetts in Pursuit of Antibody Drugs for Cancer”

Gilead Sciences Gets FDA Green Light To Sell Cystic Fibrosis Drug

Gilead Sciences paid $365 million to acquire Seattle-based Corus Pharma in 2006, and now it finally can see a way of getting a return on that investment in the U.S. The world’s leading marketer of HIV medicines said late Monday that the FDA has given it clearance to start selling an inhalable antibiotic to U.S. … Continue reading “Gilead Sciences Gets FDA Green Light To Sell Cystic Fibrosis Drug”

Arzeda CEO Resigns; Company Looks to Prove Technology, Conserve Cash

Arzeda CEO Michael Martino is out. Martino, the former CEO of Bothell, WA-based Sonus Pharmaceuticals, has resigned his job as CEO of the Seattle designer-enzyme startup, and plans to take a new position with a biotech company in San Diego, according to an e-mail he sent today to friends and colleagues. Martino’s resignation is effective … Continue reading “Arzeda CEO Resigns; Company Looks to Prove Technology, Conserve Cash”

Dendreon To Spend $460M on Provenge Push This Year, Looks for Payoff in 2011

Dendreon raised $630 million from investors last year to gear up for the commercial push of its new drug for prostate cancer, and the Seattle-based company plans to spend a lot of it this year. The company (NASDAQ: [[ticker:DNDN]]) plans to use about $460 million of its cash in 2010—about triple what it burned through … Continue reading “Dendreon To Spend $460M on Provenge Push This Year, Looks for Payoff in 2011”

Chairman Bill Young: Next Biogen Idec CEO May Be a Scientist

The future leader of Biogen Idec might be as familiar with a petri dish as he or she is with a spreadsheet. That’s according to Bill Young, who took over as Biogen’s chairman of the board on January 1. Young is on the board committee that’s searching to replace CEO Jim Mullen, who announced last … Continue reading “Chairman Bill Young: Next Biogen Idec CEO May Be a Scientist”

NanoString Chairman Bill Young Scopes Out Diagnostic Future, Considers Bay Area Expansion

Big decisions about the future of NanoString Technologies are in the works. The Seattle-based maker of genetic analysis tools is crafting a strategy to enter the clinical diagnostics market, it expects to hire a permanent CEO within a couple months, and it may establish its headquarters to the San Francisco Bay Area to get the … Continue reading “NanoString Chairman Bill Young Scopes Out Diagnostic Future, Considers Bay Area Expansion”

Proteostasis, a Rich Boston Biotech with San Diego Ties, Grows to Pursue Diseases of Aging

Just before the financial crisis hit in September 2008, Cambridge, MA-based Proteostasis Therapeutics was fortunate to snag $45 million of initial venture financing to pursue a dream. It has been pretty quiet since then. But behind the scenes, the idea has morphed into a company built to make convenient oral pills for diseases of aging. … Continue reading “Proteostasis, a Rich Boston Biotech with San Diego Ties, Grows to Pursue Diseases of Aging”

Cell Therapeutics Panel Stalled, Medical Device Angels Band Together, Calypso Cuts Side Effects, & More Seattle-Area Life Sciences News

The world knows all too well that we don’t have much snow here in the Pacific Northwest (sorry, Vancouver), but we certainly felt the impact of the East Coast snowstorm here on the biotech beat over the last week. —Seattle-based Cell Therapeutics (NASDAQ: [[ticker:CTIC]]) is waiting a little longer than expected for its judgment day. … Continue reading “Cell Therapeutics Panel Stalled, Medical Device Angels Band Together, Calypso Cuts Side Effects, & More Seattle-Area Life Sciences News”

Calypso Study Shows Pinpoint Radiation for Prostate Cancer Curbs Side Effects

Calypso Medical Technologies was founded a decade ago on the belief that it could reduce side effects for cancer patients getting radiation treatment. Now the Seattle-based company has the first batch of clinical trial data to prove it. A study of 64 patients who used the Calypso system to track their prostate tumors in real-time … Continue reading “Calypso Study Shows Pinpoint Radiation for Prostate Cancer Curbs Side Effects”

Eleven Biotherapeutics Raises $35M, Seeks to Crank the Amplifer Up on Protein Drugs

It’s not every day on the biotech beat that we find a startup has been inspired by the 1984 rock mockumentary “This is Spinal Tap.” But that’s a true story behind the founding of Eleven Biotherapeutics, the latest high-profile startup in the Boston biotech cluster. Cambridge, MA-based Eleven Biotherapeutics is emerging from stealth mode today … Continue reading “Eleven Biotherapeutics Raises $35M, Seeks to Crank the Amplifer Up on Protein Drugs”

What Will San Diego’s Biotech Hub Look Like in 20 Years? Xconomy Event Takes Long View

San Diego has grown up into the world’s third-leading hub of life sciences over the past three decades. But what will the local life sciences landscape look like another two decades from now? Will the region have gained basic research prowess, attracted more venture financing, and stimulated more entrepreneurial activity? I’m excited to announce that … Continue reading “What Will San Diego’s Biotech Hub Look Like in 20 Years? Xconomy Event Takes Long View”

Medical Device Entrepreneurs Converge on Wings, a New Angel Investing Network

People who make a living creating medical devices, like ultrasound machines or stents to prop open clogged arteries, have lived through a crummy 18 months. But that’s not discouraging a group of prominent medical device entrepreneurs from Seattle who are building the region’s first dedicated network of angel investors who have the money and expertise … Continue reading “Medical Device Entrepreneurs Converge on Wings, a New Angel Investing Network”

Rib-X Maps Out Pivotal Antibiotic Trial, As Part of Built-to-Last Company Strategy

Ten years have gone by since Susan Froshauer co-founded Rib-X Pharmaceuticals to create effective new antibiotics. If things break right, this will be the year her company makes some critical decisions that could ensure it lasts 10 more. Like a lot of startup drug companies, this one is consuming a lot of time and money. … Continue reading “Rib-X Maps Out Pivotal Antibiotic Trial, As Part of Built-to-Last Company Strategy”

Sirtris Founders Build New Venture Capital Fund, Keep Mum

The people who built Cambridge, MA-based Sirtris Pharmaceuticals on the idea of treating diseases of aging, and sold it to GlaxoSmithKline for more than $700 million two years ago, are apparently busy building a new venture capital fund. Christoph Westphal, Michelle Dipp, and Rich Aldrich are listed as co-managers of Longwood Founders Fund, on a … Continue reading “Sirtris Founders Build New Venture Capital Fund, Keep Mum”

Halosource Vet Starts Company to Make Socks that Kill Bugs

For years, Halosource was what you might call a solution in search of a problem. It had anti-microbial technology that could theoretically kill viruses and bacteria anywhere and everywhere. But when it came down to making actual commercial products, it took many years to find its niche in purifying water. Now one of the veterans … Continue reading “Halosource Vet Starts Company to Make Socks that Kill Bugs”

Infinity’s New CEO, Veteran Dealmaker, Seeks to Deliver on Company’s Early Promise

The story of Infinity Pharmaceuticals can be told through three people. Steve Holtzman got the company started, and raised the money for the company’s proprietary chemistry. Julian Adams brought the focus on cancer drugs. Now it’s up to Adelene Perkins to show that the company’s treatments work, and can be successfully marketed to patients. At … Continue reading “Infinity’s New CEO, Veteran Dealmaker, Seeks to Deliver on Company’s Early Promise”

Cell Therapeutics Shares Fall as FDA Says Lymphoma Drug Has “Substantial” Side Effects

Seattle-based Cell Therapeutics’ experimental drug for non-Hodgkin’s lymphoma was tested in “substantially fewer” patients than planned in a pivotal clinical trial, and the data that it gathered to support its application shows the treatment has “substantial” toxicity to blood cells and the heart, according to an analysis by FDA staff posted online today. The FDA’s … Continue reading “Cell Therapeutics Shares Fall as FDA Says Lymphoma Drug Has “Substantial” Side Effects”

Optimer Rises on Takeover Buzz and Clinical Trial Results; Still Faces Business Risks

One of the buzzwords I keep hearing is that biotech investors want companies that are “de-risked.” This is kind of amusing, because the complex nature of biology makes biotech drug development one of the riskiest investments of all. But this craving for security is positive, at least for a while, if you are San Diego-based … Continue reading “Optimer Rises on Takeover Buzz and Clinical Trial Results; Still Faces Business Risks”

Zafgen’s Mysterious Weight Loss Drug Advances Into First Trial for Obese Women

Zafgen arrived on the Boston biotech scene about 18 months ago with blue-chip venture backing, a highly regarded scientist as CEO, and an audacious idea. The Cambridge, MA-based company was developing a powerful new weight loss drug made to work unlike any other treatment in development, by cutting off the blood supply to fat tissue. … Continue reading “Zafgen’s Mysterious Weight Loss Drug Advances Into First Trial for Obese Women”

Infinia Raises $11.5M To Make New Solar-Power Generators, Entices Paul Allen Again

[Updated: 2/5/2010, 5:45 pm Pacific, with Infinia CEO comments.] Infinia is raising another truckload of money. The Kennewick, WA-based company, backed by Paul Allen and Vinod Khosla, has snapped up $11.5 million in new equity financing out of a round that could bring in as much as $75 million over time, according to a regulatory … Continue reading “Infinia Raises $11.5M To Make New Solar-Power Generators, Entices Paul Allen Again”

Optimer Passes Second Big Trial of Drug for Deadly Bacteria

San Diego-based Optimer Pharmaceuticals has nailed the second big trial designed to prove it has a new antibiotic for a deadly infection people can get in hospitals. Optimer (NASDAQ: [[ticker:OPTR]]) said today that it reached its main goal of showing its experimental antibiotic, fidaxomicin, was roughly equivalent to the gold standard vancomycin drug when attempting … Continue reading “Optimer Passes Second Big Trial of Drug for Deadly Bacteria”

Alkermes Unveils Cheaper, Easier Technique for Making Drugs Last Longer in Blood

Alkermes is known for making drugs stable and long-lasting in the bloodstream. Today, the Waltham, MA-based company is announcing it has invented a new way to do the same thing, but at lower cost and with fewer manufacturing hassles. There’s also the potential that the new technique could be used on more drugs, and lead … Continue reading “Alkermes Unveils Cheaper, Easier Technique for Making Drugs Last Longer in Blood”

Cell Therapeutics Nears Judgment Day, AVI Biopharma Awaits Results, HemaQuest Gets $6M & More Seattle-Area Life Sciences News

The Seattle biotech beat is about to get a dose of drama over the next week, as one of the oldest companies in town prepares for a make-or-break moment in suburban Washington, D.C. —Seattle-based Cell Therapeutics (NASDAQ: [[ticker:CTIC]]]) is getting ready for a critical decision next Wednesday, when a panel of cancer drug experts will … Continue reading “Cell Therapeutics Nears Judgment Day, AVI Biopharma Awaits Results, HemaQuest Gets $6M & More Seattle-Area Life Sciences News”

Ironwood Climbs 3.6 Percent on IPO Debut Day, Shows Investor Interest—Albeit Tepid—in Biotech

Ironwood Pharmaceuticals showed today that an IPO market does exist for a serious biotech company without a moneymaking product on the market, but that investors’ appetite for the speculative business of drug development is modest. The Cambridge, MA-based biotech company set its initial public offering price at $11.25—a far cry from its forecasted price range … Continue reading “Ironwood Climbs 3.6 Percent on IPO Debut Day, Shows Investor Interest—Albeit Tepid—in Biotech”

NanoString Adds Exec Chairman

NanoString Technologies, the Seattle-based developer of genetic analysis tools, said today it has named William Young as its new executive chairman. Young is the chairman of Cambridge, MA-based Biogen Idec (NASDAQ: [[ticker:BIIB]]]), and formerly was chairman and CEO of Monogram Biosciences, and chief operating officer of Genentech. NanoString is still seeking a permanent CEO to … Continue reading “NanoString Adds Exec Chairman”

Seattle Genetics Starts Lymphoma Trial

Seattle Genetics (NASDAQ: [[ticker:SGEN]]) and its partner, Millennium: The Takeda Oncology Company, said today they are starting a clinical trial of the brentuximab vedotin “empowered antibody” for patients newly diagnosed with Hodgkin’s disease. The drug has been shown effective in a small study for patients with relapsed forms of Hodgkin’s, and is currently being tested … Continue reading “Seattle Genetics Starts Lymphoma Trial”

Google Pours “Incredible” Computing Power into Antibody Drug Discovery With Adimab

Google is the undisputed king of Internet search and advertising, but its second act as a company might be to invent a new computer model for efficiently discovering targeted antibody drugs. “Google is committing incredible resources to it. Incredible resources,” says Tillman Gerngross, the founder and CEO of Lebanon, NH-based Adimab. “The infrastructure alone is … Continue reading “Google Pours “Incredible” Computing Power into Antibody Drug Discovery With Adimab”

Cell Therapeutics FDA Panel Primer: What You Need to Know to Be Ready Next Week

Seattle-based Cell Therapeutics will find out in seven days whether it has a legitimate shot at getting a new cancer drug on the U.S. market. This company has a long and controversial history, and it is guaranteed to generate noise over the next week from stock market bulls and bears. So I figured it might … Continue reading “Cell Therapeutics FDA Panel Primer: What You Need to Know to Be Ready Next Week”

BrainCells Inc. Maps Out Next Steps for Novel Depression Drug

San Diego-based BrainCells Inc. surprised the field of psychiatry last August, when a clinical trial showed that it could relieve symptoms of depression with an odd combination of an anxiety drug and a common dietary supplement. Six months later, the company is in the thick of plotting the next steps to turn this into a … Continue reading “BrainCells Inc. Maps Out Next Steps for Novel Depression Drug”

Hemaquest Snaps Up $6M To Treat Sickle Cell, Other Blood Disorders

Hemaquest Pharmaceuticals, the Seattle-based company developing a new treatment for sickle cell anemia, has pocketed a $6 million equity financing, according to a regulatory filing. The financing could eventually total as much as $12.7 million. The filing doesn’t say who participated in the deal, but it lists some familiar biotech names as members of the … Continue reading “Hemaquest Snaps Up $6M To Treat Sickle Cell, Other Blood Disorders”

AVI Biopharma Eagerly Awaits Data on Muscular Dystrophy Drug

AVI Biopharma doled out an interesting little morsel of news on its muscular dystrophy drug right before Christmas that showed encouraging results in three boys. This year, the Bothell, WA-based biotech company is eagerly awaiting more meaningful follow-up data that could show it is on track with what could be the first treatment to fix … Continue reading “AVI Biopharma Eagerly Awaits Data on Muscular Dystrophy Drug”

Ironwood Gears Up for Biotech’s Biggest IPO in Years, Sending Ripple Effect Through Industry

Everybody with a financial stake in biotechnology will be watching Ironwood Pharmaceuticals this week, as it attempts to pull off the biggest initial public offering the industry has seen in years. The Cambridge, MA-based company, which filed its original IPO prospectus on Nov. 20, is now primed to go ahead and start selling its first … Continue reading “Ironwood Gears Up for Biotech’s Biggest IPO in Years, Sending Ripple Effect Through Industry”

Illumina Bets Again on Oxford Nanopore, Joins $28M Investment in Cheaper Gene Sequencing

San Diego-based Illumina has made its second big bet in the past two years on U.K.-based Oxford Nanopore Technologies. The investment is another show of confidence in a startup that boldly promises to sequence entire human genomes far faster and cheaper than anything on the market today, possibly for as little as $1,000 per genome. … Continue reading “Illumina Bets Again on Oxford Nanopore, Joins $28M Investment in Cheaper Gene Sequencing”

Allylix, Specialty Chemical Maker, Nails Down $6M Financing

Allylix, the San Diego-based company that uses genetically engineered yeast to make specialty chemicals, has raised $6 million in new equity capital, according to a regulatory filing. The document doesn’t say who invested, although it does list CEO Carolyn Fritz, Simon Barnes of Tate & Lyle Ventures in London, Stephen Block of Tech Coast Angels, … Continue reading “Allylix, Specialty Chemical Maker, Nails Down $6M Financing”