Verdiem, the Seattle-based developer of software that helps computers use less energy, has raised $4.7 million in new equity financing out of a round that could be worth as much as $5.9 million, according to a regulatory filing. The filing doesn’t say who is pumping in the new capital, although it says eight investors have … Continue reading “Verdiem Nabs $4.7M To Help Make Computers Use Less Energy”
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.
Intellikine Tests First Cancer Drug in Humans, Just Two Years After Opening Labs
Intellikine has only been cooking up new drugs in the laboratory for a little more than two years, and now its first candidate is being tested in human beings. The San Diego-based biotech dosed the first patient in a clinical trial of INK128 just before Christmas Day, says Intellikine CEO Troy Wilson. The experimental drug, … Continue reading “Intellikine Tests First Cancer Drug in Humans, Just Two Years After Opening Labs”
Biogen Idec CEO Jim Mullen Stepping Down, After Tumultuous Year of Shareholder Activism
[Updated 6:05 pm Eastern 1/4/10] Biogen Idec, the world’s largest maker of multiple sclerosis drugs and an anchor of Boston’s biotech cluster, is looking for a new CEO. The Cambridge, MA-based company (NASDAQ: [[ticker:BIIB]]) said today that longtime CEO James Mullen is stepping down on June 8, and also will be relinquishing his seat on … Continue reading “Biogen Idec CEO Jim Mullen Stepping Down, After Tumultuous Year of Shareholder Activism”
Alder Rises From Ashes of Layoffs to Become Seattle Biotech Force
Nobody would have guessed the seeds for one of Seattle’s most promising biotech companies were being planted just before Thanksgiving in 2003. That’s when Randy Schatzman had the depressing task of firing all 90 people who worked for him, and closing the doors at Celltech R&D in Bothell, WA. Celltech’s headquarters back in the U.K. … Continue reading “Alder Rises From Ashes of Layoffs to Become Seattle Biotech Force”
Dicerna Snags Deal With Japan’s Kyowa Hakko Kirin to Develop RNAi Cancer Treatments
Dicerna Pharmaceuticals has found some deep pockets to support its approach to creating RNA interference drugs. The Watertown, MA-based company is announcing today that it has formed an alliance with Japan-based Kyowa Hakko Kirin. Under the deal, Kyowa Hakko Kirin will get access to Dicerna’s proprietary RNAi drug technology against one undisclosed target on cancer … Continue reading “Dicerna Snags Deal With Japan’s Kyowa Hakko Kirin to Develop RNAi Cancer Treatments”
Life Technologies Uses Sound Wave Technology to Crack Into New Instrument Market
Carlsbad, CA-based Life Technologies sells a bunch of stuff to biomedical researchers, but one market it has never tried to capture is the one for flow cytometers. These are common lab tools that can count and catalog large numbers of cells in a biological sample. They can be useful in many ways, including, say, looking … Continue reading “Life Technologies Uses Sound Wave Technology to Crack Into New Instrument Market”
MDRNA Grabs $1M Bridge Loan
MDRNA, the Bothell, WA-based company developing RNA interference technology, said today it has raised $1 million through a debt financing to ensure it has “sufficient resources” to meet its near-term goals of finding a partner or securing more financing in 2010. The company (NASDAQ: [[ticker:MRNA]]) said in a regulatory filing that it issued promissory notes … Continue reading “MDRNA Grabs $1M Bridge Loan”
Editor’s Picks: The Best of 2009 From Xconomy Seattle
Every day in 2009, I got out of bed and thought about how to create excellent, original stories for Xconomy Seattle. So did my brother-in-arms, editor Greg Huang. We want Xconomy to be a source of original, in-depth, engaging content for you. We are always looking to dig up things about the local tech, biotech, … Continue reading “Editor’s Picks: The Best of 2009 From Xconomy Seattle”
Cell Therapeutics Dangles Exec Bonuses, Oncothyreon’s Turnaround Year, VLST Layoffs, & More Seattle-Area Life Sciences News
This was the last week of 2009 that anybody could realistically get deals done, and quite a few did. —Bothell, WA-based OncoGenex Pharmaceuticals (NASDAQ: [[ticker:OGXI]]) secured a partnership to develop its experimental prostate cancer treatment with Israel-based Teva Pharmaceutical, the generic drug giant. OncoGenex pulled in $60 million in upfront cash, but investors objected to … Continue reading “Cell Therapeutics Dangles Exec Bonuses, Oncothyreon’s Turnaround Year, VLST Layoffs, & More Seattle-Area Life Sciences News”
See Which Life Sciences Companies Are Getting The $25M State Tax Breaks
Quite a few of the companies we cover here at Xconomy received some good fortune this year right before the holidays. These 28 life sciences companies will pocket a total of $25 million in tax incentives, according to a statement from the Massachusetts Life Sciences Center. Gov. Deval Patrick, who staked a fair bit of … Continue reading “See Which Life Sciences Companies Are Getting The $25M State Tax Breaks”
Kala Pharmaceuticals, Stealthy New Company Tied to MIT’s Bob Langer, Gets $2M
MIT’s famously inventive bioengineering professor, Bob Langer, is lending his expertise to yet another fledgling biotech company. Boston-based Kala Pharmaceuticals, which lists Langer on its board of directors, has secured a $2 million equity financing, according to a regulatory filing. Kala doesn’t have a website, and I haven’t been able to find any public statements … Continue reading “Kala Pharmaceuticals, Stealthy New Company Tied to MIT’s Bob Langer, Gets $2M”
Arena Loses Merck Collaboration After Clogged-Artery Drug Fails Clinical Trial
Somebody always delivers some bad news on the slow days before Christmas, and this year, it’s Arena Pharmaceuticals. The San Diego-based biotech company said today that pharma giant Merck has cancelled a research collaboration with Arena after an experimental drug for improving levels of the so-called “good” cholesterol failed to reach its goal in a … Continue reading “Arena Loses Merck Collaboration After Clogged-Artery Drug Fails Clinical Trial”
pSivida Shares Boom as Eye Drug Passes Pivotal Trial
Shares of pSivida (NASDAQ: [[ticker:PSDV]]) rocketed more than 50 percent this morning on some positive clinical trial news. The Watertown, MA-based company, the developer of a treatment for an eye disorder related to diabetes, said its technology helped patients improve their vision after two years of follow up in a clinical trial. pSivida climbed 56 … Continue reading “pSivida Shares Boom as Eye Drug Passes Pivotal Trial”
Oncothyreon CEO on Next-Generation Cancer Vaccines, Two Key Zymonites, and Serious Luck
Biotech companies can be resilient little animals, and one example in Seattle is Oncothyreon (NASDAQ: [[ticker:ONTY]]). This company looked like a goner a little over a year ago, when it was down to its last few months of cash and its stock was trading for less than a buck. Somehow, when his back was against … Continue reading “Oncothyreon CEO on Next-Generation Cancer Vaccines, Two Key Zymonites, and Serious Luck”
Ambit, Buoyed by Astellas Deal, Attempting Rare Switch from Platform to Drug Developer
Ambit Biosciences made news last Friday when it pulled in $40 million through a partnership with Japan-based Astellas Pharma. We had the basic gist out fast that morning, but I gathered a lot more detail and insight during a follow-up conversation with Ambit CEO Scott Salka. It’s been a frenetic year at Ambit. The company … Continue reading “Ambit, Buoyed by Astellas Deal, Attempting Rare Switch from Platform to Drug Developer”
AVI Biopharma Drug Shows Hint of Effect Against Muscular Dystrophy In Small Study
Bothell, WA-based AVI Biopharma (NASDAQ: [[ticker:AVII]]) is trying to develop the first treatment to correct an underlying molecular abnormality in boys with Duchenne Muscular Dystrophy, and after taking an early peek at a small clinical trial, the drug appears to be doing what it’s supposed to do in at least one patient. The preliminary results … Continue reading “AVI Biopharma Drug Shows Hint of Effect Against Muscular Dystrophy In Small Study”
Arena Turns In FDA Application
San Diego-based Arena Pharmaceuticals (NASDAQ: [[ticker:ARNA]]) said today it has filed its application to the FDA for clearance to start marketing lorcaserin for weight loss. The application includes information on 18 clinical trials that enrolled almost 8,600 patients, including the pivotal trials known as Bloom and Blossom. The company had forecasted previously it would complete … Continue reading “Arena Turns In FDA Application”
Genocea Eyes Vaccines that Treat, Not Just Prevent, Infectious Diseases
Genocea Biosciences sees a big potential in high-speed technology for discovering vaccines—not only ones that prevent diseases, but also ones that treat them. Indeed, the Cambridge, MA-based biotech has decided to pursue an immune-boosting therapy for genital herpes as its lead product candidate. Genocea (pronounced Jen-O-shuh) has been one of the biotech startups to watch … Continue reading “Genocea Eyes Vaccines that Treat, Not Just Prevent, Infectious Diseases”
VLST Cuts Jobs To Preserve Cash, Still Feeding Novo Nordisk Pipeline
VLST, the Seattle-based biotech company seeking new ways of treating autoimmune diseases, has recently completed a round of layoffs. I received a tip that the company eliminated about 30 percent of its workforce in recent weeks. CEO Marty Simonetti confirmed that job cuts have occurred, but wouldn’t say how many people were let go or … Continue reading “VLST Cuts Jobs To Preserve Cash, Still Feeding Novo Nordisk Pipeline”
EyeGate Pharma, Delivering Drugs Into the Eye, Raises $11M Out of $23M Round
EyeGate Pharma, a Waltham, MA-based company developing more effective ways to deliver drugs into the eye, has raised $11 million in new financing out of an equity round that could potentially bring in $22.7 million, according to a regulatory filing today. EyeGate hasn’t issued a statement on the financing, and a company spokesman couldn’t immediately … Continue reading “EyeGate Pharma, Delivering Drugs Into the Eye, Raises $11M Out of $23M Round”
ZymoGenetics Regains Full U.S. Rights to Recothrom as Bayer Walks Away
If ZymoGenetics is going to make its lone marketed product into a success, it will have to do it on its own. The Seattle-based biotech company said today that its partner, Germany-based Bayer, is walking away from its U.S. commercial rights to the drug for surgical bleeding. ZymoGenetics (NASDAQ: [[ticker:ZGEN]]) said today it is getting … Continue reading “ZymoGenetics Regains Full U.S. Rights to Recothrom as Bayer Walks Away”
Isis Nabs $10M from OncoGenex Deal
Isis Pharmaceuticals (NASDAQ: [[ticker:ISIS]]), the Carlsbad, CA-based biotech company, said today it will receive a $10 million payment from OncoGenex Pharmaceuticals in connection with OncoGenex’s new partnership with Teva Pharmaceutical. Bothell, WA-based OncoGenex (NASDAQ: [[ticker:OGXI]]) secured a worldwide partnership with Teva to develop OGX-011, an antisense therapy for prostate cancer. Isis will receive $10 million … Continue reading “Isis Nabs $10M from OncoGenex Deal”
Seattle Genetics Bags $12M From GSK
Seattle Genetics, the Bothell, WA-based developer of antibody drugs for cancer, said today it has secured $12 million in upfront payments from GlaxoSmithKline in exchange for technology that links antibodies to toxins that make them more potent. Seattle Genetics stands to receive $390 million of milestones if all of the antibody-drug conjugates GlaxoSmithKline is developing … Continue reading “Seattle Genetics Bags $12M From GSK”
OncoGenex Grabs $60M Upfront From Teva for Rights to Cancer Drug, Shares Drop Anyway
[Updated: 12:30 pm Eastern time 12/21/09, with stock reaction.] The Cinderella story of Seattle biotech in 2009 is making more news. Bothell, WA-based OncoGenex Pharmaceuticals (NASDAQ: [[ticker:OGXI]]) is announcing today it has clinched $60 million in upfront payments from Israel-based Teva Pharmaceutical for the right to co-develop an experimental prostate cancer drug that has been … Continue reading “OncoGenex Grabs $60M Upfront From Teva for Rights to Cancer Drug, Shares Drop Anyway”
Agios, Seeking to Starve Cancer Cells to Death, Wins Support from Brain Tumor Foundation
Cancer cells can essentially get addicted to food, and Agios Pharmaceuticals thinks it has a groundbreaking way to starve them to death. Now it’s getting some help to test the idea from a foundation started by the family of AOL founder Steve Case. The Cambridge, MA-based biotech company is announcing today that it has secured … Continue reading “Agios, Seeking to Starve Cancer Cells to Death, Wins Support from Brain Tumor Foundation”
Cell Therapeutics Dangles New Bonuses to Execs for Pixantrone Approval, Boosting Stock
Cell Therapeutics has survived a near-death experience this year, and now it is dishing out a new batch of potentially rich rewards for management to stick around at least two more years. The Seattle-based biotech company (NASDAQ: [[ticker:CTIC]]) said today in a regulatory filing that the board’s compensation committee has approved a new series of … Continue reading “Cell Therapeutics Dangles New Bonuses to Execs for Pixantrone Approval, Boosting Stock”
Ambit Nabs Partnership With Astellas, $40M Upfront Cash, To Develop Leukemia Drug
Ambit Biosciences is showing that its third try to build a company looks like a charm. The San Diego-based biotech company said today it has secured a partnership with Japan-based Astellas Pharma to co-develop new drugs for cancer and other diseases. The deal revolves around Ambit’s lead experimental drug for acute myeloid leukemia, AC220, and … Continue reading “Ambit Nabs Partnership With Astellas, $40M Upfront Cash, To Develop Leukemia Drug”
Biogen Idec Bid for Facet Biotech Shot Down, But the Show’s Not Over
[Update: 5:26 pm Eastern, 12/17/09] Biogen Idec failed to persuade shareholders to approve its $450 million hostile takeover bid for Redwood City, CA-based Facet Biotech, but a statement today suggests that this particular corporate dance isn’t over yet. Shareholders of Facet (NASDAQ: [[ticker:FACT]]) turned down Cambridge, MA-based Biogen’s offer of $17.50, and now that the … Continue reading “Biogen Idec Bid for Facet Biotech Shot Down, But the Show’s Not Over”
Sequenom Down Syndrome Results “Deliberately Doctored,” Says Partner Xenomics
Sequenom has maintained for months that it “mishandled” clinical test results of a noninvasive prenatal test for Down syndrome, but one of its partners is now accusing the company of committing fraud by having “deliberately doctored” the data. New York-based Xenomics said in October that it is suing San Diego-based Sequenom (NASDAQ: [[ticker:SQNM]]), for as … Continue reading “Sequenom Down Syndrome Results “Deliberately Doctored,” Says Partner Xenomics”
Regulus Adds IP from Baltimore Lab
Regulus Therapeutics, the Carlsbad, CA-based developer of microRNA therapies, said today it has obtained an exclusive license from the lab of David Baltimore at Caltech to make drugs that affect a pair of microRNAs thought to be related to inflammation. Regulus is getting worldwide exclusive rights to develop drugs against miR-146 and miR-155. Baltimore is … Continue reading “Regulus Adds IP from Baltimore Lab”
Neurocrine Gets $10M From Venrock
Neurocrine Biosciences, the San Diego-based biotech company, said today it raised about $10 million through a stock offering to Venrock Associates. The company (NASDAQ: [[ticker:NBIX]]) said it sold 4.78 million shares of Neurocrine at $2.09 apiece to Venrock. That’s about an 8 percent discount to the market price of $2.27 at yesterday’s close.
Adimab Proves Fast Antibody Discovery Tool to Merck, Roche; Snags New Deal With Pfizer
Adimab has an audacious goal for speeding up the way antibody drugs are discovered, and apparently it’s delivering the goods. The Lebanon, NH-based biotech company is announcing today it has collected milestone payments from its first two corporate partners, Merck and Roche, and built on that experience to grab a pair of additional partnerships with … Continue reading “Adimab Proves Fast Antibody Discovery Tool to Merck, Roche; Snags New Deal With Pfizer”
Anadys Hepatitis C Drug Shows Early Sign of Viral-Killing Punch, Without Dreaded Rash
Anadys Pharmaceuticals has bet the company on its experimental drug for hepatitis C, and an early peek at clinical trial results show the San Diego company is still in the game. Anadys (NASDAQ: [[ticker:ANDS]]) is announcing today it has captured data from the first 44 patients who were randomly assigned to get a low dose … Continue reading “Anadys Hepatitis C Drug Shows Early Sign of Viral-Killing Punch, Without Dreaded Rash”
CTI Heading to FDA Panel
Cell Therapeutics (NASDAQ: [[ticker:CTIC]]), the Seattle-based developer of pixantrone for non-Hodgkin’s lymphoma, said today that the experimental treatment will be reviewed by an FDA advisory panel on February 10. The FDA’s Oncologic Drugs Advisory Committee will review the evidence for pixantrone and make a recommendation to the agency, which will ultimately decide whether to clear … Continue reading “CTI Heading to FDA Panel”
Dendreon Nails Down $409M, Stewart Parker Gets Itch to Return, Seattle Genetics Finds New Partner, & More Seattle-Area Life Sciences News
‘Tis apparently the season to cram in as much biotech news as possible before taking a holiday breather. —Dendreon (NASDAQ: [[ticker:DNDN]]) snapped up a total of $409 million through a stock offering. The Seattle-based biotech company sold 15 million shares in an initial piece of the financing that brought in $356 million, and secured the … Continue reading “Dendreon Nails Down $409M, Stewart Parker Gets Itch to Return, Seattle Genetics Finds New Partner, & More Seattle-Area Life Sciences News”
Helicos Raises $6.4M
Helicos Biosciences, the Cambridge, MA-based maker of genetic research instruments, said today it has raised $6.4 million. The company (NASDAQ: [[ticker:HLCS]]) collected the cash by offering a combination stock and warrants. The deal was underwritten by Thomas Weisel Partners.
Zymo Drug Gets Canadian Approval
ZymoGenetics (NASDAQ: [[ticker:ZGEN]]), the Seattle-based biotech company, said today in a regulatory filing that its drug to control excess surgical bleeding has received approval from Canadian regulators. ZymoGenetics’ partner, Bayer AG, received clearance to start marketing recombinant thrombin (Recothrom), in Canada. ZymoGenetics, which first received approval of the drug in the U.S. in January 2008, … Continue reading “Zymo Drug Gets Canadian Approval”
New Faces, New Vacancies on Biogen Idec Board May Foretell Another Proxy Battle
The Biogen Idec boardroom has seen a lot of turnover in the past few months, and who ends up filling the empty slots could say a lot about whether the Cambridge, MA-based biotech company (NASDAQ: [[ticker:BIIB]]) will have another proxy fight with billionaire investor Carl Icahn on its hands this spring. Since Icahn won a … Continue reading “New Faces, New Vacancies on Biogen Idec Board May Foretell Another Proxy Battle”
Seattle Genetics Nabs $60M Upfront From Millennium For “Empowered Antibody”
Seattle Genetics lost one marquee partner last week, and a few days later, it gained another. The Bothell, WA-based biotech company said today that it has clinched a partnership with Millennium: The Takeda Oncology Company to co-develop and market an “empowered antibody” for Hodgkin’s disease and related lymphomas. Millennium, a Cambridge, MA-based operation that handles … Continue reading “Seattle Genetics Nabs $60M Upfront From Millennium For “Empowered Antibody””
Pathway Device Wins EU Approval
Pathway Medical Technologies, the Kirkland, WA-based developer of a medical device to clear out blockages in leg arteries, said today it has received regulatory clearance to sell the product in Europe. The company is now developing plans to sell the Jetstream G2 NXT for peripheral artery disease in all European Union countries. The product first … Continue reading “Pathway Device Wins EU Approval”
Zymo Application Yanked in EU
ZymoGenetics (NASDAQ: [[ticker:ZGEN]]), the Seattle-based developer of a treatment to stop excess surgical bleeding, said today that its partner has voluntarily withdrawn an application to market the product in Europe. Germany-based Bayer, who formed a collaboration with ZymoGenetics to market recombinant thrombin (Recothrom) in 2007, withdrew the European application after regulators there said another clinical … Continue reading “Zymo Application Yanked in EU”
Alnylam, Studying History of Genzyme, Eyes Drug to Make Big Impact for Rare Disease
Alnylam Pharmaceuticals has a technology, RNA interference, that scientists say has potential to break new ground against hundreds of diseases for decades to come. But when you have a proverbial “platform” technology that can do so much, how exactly should you set priorities, and decide which drugs to develop first? I got a sense for … Continue reading “Alnylam, Studying History of Genzyme, Eyes Drug to Make Big Impact for Rare Disease”
From Russia With Love (for Biotech), Stewart Parker Gets “Antsy” to Return
H. Stewart Parker’s biotech dream came to an end a little more than a year ago. The company she founded back in 1992, Seattle-based Targeted Genetics, had essentially run out of time and money for its quest to develop groundbreaking new gene therapies. It’s still around, but it never developed a cure, and it is … Continue reading “From Russia With Love (for Biotech), Stewart Parker Gets “Antsy” to Return”
San Diego’s BioTheranostics Gears Up to Sell Test That Predicts Breast Cancer Relapse
One big question women often have after getting diagnosed with breast cancer is whether their first round of treatment is really going to work, or whether they need more aggressive therapy to prevent a relapse. Another big one is whether aggressive treatment is likely to work. Now a little diagnostic company from San Diego, called … Continue reading “San Diego’s BioTheranostics Gears Up to Sell Test That Predicts Breast Cancer Relapse”
Breast Cancer “Smart Bomb” Drug From Roche, ImmunoGen Passes Important Trial
The emerging “smart bomb” drug for breast cancer, developed by Roche’s U.S.-based Genentech unit with technology from Waltham, MA-based ImmunoGen (NASDAQ: [[ticker:IMGN]]), has passed an important clinical trial that could clear the way for this new kind of treatment to reach the U.S. market. About one out of every three people (32.7 percent) who enrolled … Continue reading “Breast Cancer “Smart Bomb” Drug From Roche, ImmunoGen Passes Important Trial”
Dendreon Wraps Up $409M Deal
Dendreon (NASDAQ: [[ticker:DNDN]]), the Seattle based company developing a treatment to stimulate the immune system against prostate cancer, said today it has tacked on an additional $55.7 million through its stock offering, bringing the grand total of this financing to $409 million after expenses. The company sold 15 million shares earlier in the week, and … Continue reading “Dendreon Wraps Up $409M Deal”
Roche Scraps Partnership With Seattle Genetics on Lymphoma Drug
If Seattle Genetics is destined to emerge a leading maker of antibody drugs that specifically target diseased cells, it will get there without the help of the world’s dominant player in the market for antibody drugs. The Bothell, WA-based biotech company (NASDAQ: [[ticker:SGEN]]) said today that Roche’s U.S.-based Genentech unit has canceled a partnership the … Continue reading “Roche Scraps Partnership With Seattle Genetics on Lymphoma Drug”
Boston Scientific Adds $2B in Debt
Boston Scientific, the giant medical device company, said today it has raised $2 billion in a debt financing. The Natick, MA-based company (NYSE: [[ticker:BSX]]) secured interest rates ranging between 4.5 percent and 7.38 percent on notes that have to be paid back between 2015 and 2040.
Dendreon Raises $356 Million for Manufacturing, Marketing of Prostate Cancer Drug
Dendreon has just nailed down one of the biggest biotech financings in the U.S. this year. The Seattle-based biotech company (NASDAQ: [[ticker:DNDN]]) has secured $356 million for its quest to market the first treatment in the U.S. designed to actively stimulate the immune system to fight cancer cells like a virus. The company sold 15 … Continue reading “Dendreon Raises $356 Million for Manufacturing, Marketing of Prostate Cancer Drug”
Biogen Idec Chairman Steps Down as Board Re-Shuffles in Wake of Icahn Arrival
Bruce Ross, one of the lightning rods for criticism from billionaire investor Carl Icahn during last spring’s proxy battle at Biogen Idec, has agreed to relinquish the company chairmanship and leave the board at next year’s annual meeting in what appears to be an ongoing boardroom shakeup. He will be joined on his way out … Continue reading “Biogen Idec Chairman Steps Down as Board Re-Shuffles in Wake of Icahn Arrival”