Biogen Idec and Elan got clobbered by investors a few weeks ago when they reported that two new patients developed PML, the often-fatal brain infection, after taking Tysabri. But in an announcement about the cases on its website, the FDA doesn’t seem overly alarmed about the risk associated with drug for multiple sclerosis and Crohn’s … Continue reading “FDA Doesn’t Appear Overly Alarmed by Recent Cases of Brain Disease Associated With Tysabri; Working with Biogen Idec and Elan to Update Labeling”
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.
Trubion Pushing Forward Arthritis Trials, Working to Re-Ignite the Spark for Investors
The stock chart for Trubion Pharmaceuticals tells an ugly tale this past year. The company had sunk to $4.48 as of yesterday’s close, after selling shares in an initial public offering at $13 in October 2006. Steven Harr, an influential biotech analyst at Morgan Stanley, summed it up in a report in March, saying Trubion … Continue reading “Trubion Pushing Forward Arthritis Trials, Working to Re-Ignite the Spark for Investors”
Cleantech Entrepreneurs Speak Out for Obama’s Energy Plan
Barack Obama probably doesn’t have to worry much about the cleantech vote. A handful of renewable energy entrepreneurs couldn’t say enough good things about the Democratic presidential candidate in a press conference this morning at the Propel Biofuels station in Seattle’s South Lake Union neighborhood. The cleantechies gave me a series of blank stares when … Continue reading “Cleantech Entrepreneurs Speak Out for Obama’s Energy Plan”
Quanterix Collects $15 Million in Series A Venture Round
Quanterix, a privately held developer of medical diagnostics technology in Cambridge, MA, has raised $15 million in a Series A financing, according to VentureWire. Arch Venture Partners, Bain Capital, and Flagship Ventures participated in the financing. Tufts University researcher David Walt, a founder of San Diego-based Illumina (NASDAQ: [[ticker:ILMN]]) is a co-founder of Quanterix. The … Continue reading “Quanterix Collects $15 Million in Series A Venture Round”
Cell Therapeutics Authorizes 1-for-10 Reverse Stock Split
Cell Therapeutics said today its board has authorized a 1-for-10 reverse stock split, meaning that shareholders will get one share of common stock in exchange for 10 they own. The Seattle-based biotech company (NASDAQ: [[ticker:CTIC]]) said the change will take effect Aug. 31. The move was made primarily to regain compliance with Nasdaq listing requirements, … Continue reading “Cell Therapeutics Authorizes 1-for-10 Reverse Stock Split”
Genzyme, Medicines for Malaria Venture Form Partnership to Develop New Treatments
Cambridge, MA-based Genzyme (NASDAQ: [[ticker:GENZ]]) and Medicines for Malaria Venture, a nonprofit organization, said today they have formed a malaria drug collaboration with India-based Advinus Therapeutics. The organizations will work to develop new treatments for pregnant women and infants who are most threatened by the infection. The partners, which includes the Broad Institute of MIT … Continue reading “Genzyme, Medicines for Malaria Venture Form Partnership to Develop New Treatments”
Putting Electrons Behind Getting Things Built: Seattle Science Foundation Aims to Connect Scientists, Start Companies
Bob Franza has a way with words. I stopped by to visit the visionary biologist in his office at the Seattle Science Foundation yesterday, hoping to get a better sense of what the new nonprofit organization is all about. He didn’t give me the usual public-relations boilerplate. He mentioned social networking for scientists as a … Continue reading “Putting Electrons Behind Getting Things Built: Seattle Science Foundation Aims to Connect Scientists, Start Companies”
Q&A With Massachusetts’ Billion-Dollar Woman: Susan Windham-Bannister. Part 2.
Yesterday we ran the first half of an e-mail interview with Susan Windham-Bannister, the new president and CEO of the Massachusetts Life Sciences Center, the agency charged with administering Gov. Deval Patrick’s 10-year, $1 billion initiative to promote the industry. Here’s the link if you missed it. The rest of the interview with Dr. Sue, … Continue reading “Q&A With Massachusetts’ Billion-Dollar Woman: Susan Windham-Bannister. Part 2.”
Seattle Chamber Regional Leadership Conference
The Greater Seattle Chamber of Commerce’s regional leadership confernece will explore this year how global health became a major industry in our region, how the Puget Sound and state economy benefits from the sector, and how we as leaders can support global health to strengthen our region and significantly enhance and save lives across the … Continue reading “Seattle Chamber Regional Leadership Conference”
Genomics Panel Discussion at ISB
The Washington Biotechnology and Biomedical Association will host a panel discussion titled “Genomic Approaches to Understanding Disease and Enhancing Drug Development at the Institute for Systems Biology. Speakers include Eric Schadt, executive scientific director of Rosetta Inpharmatics, Jerry Radich, a genetics researcher at the Fred Hutchinson Cancer Research Center and Leroy Hood, president of the … Continue reading “Genomics Panel Discussion at ISB”
Governor’s Life Sciences Summit
The Governor’s Life Sciences Summit will focus on the progress to date in implementing a comprehensive life sciences strategy and on developing top priorities for the coming year. The Governor will lead a strategic discussion with a distinguished panel of life sciences executives and leaders. The day will begin with a discussion over breakfast, starting … Continue reading “Governor’s Life Sciences Summit”
Science & Technology Discovery Series, Hosted by the Technology Alliance
The 2008-09 season of the Science & Technology Discovery Series kicks off on Friday, September 12 with a presentation by MacArthur “genius award” winner (and Xconomist) Yoky Matsuoka of the University of Washington Neurobotics Laboratory and Associate Professor of Computer Science & Engineering, on the merging of robotics and neuroscience. The Discovery Series is a … Continue reading “Science & Technology Discovery Series, Hosted by the Technology Alliance”
OncoGenex Cuts Half of Workforce, Leaving 27 Employees
OncoGenex Pharmaceuticals, (NASDAQ: [[ticker:OGXI]]) the developer of cancer drugs, said today it has cut half of its workforce as part of the merger between its predecessor company and Bothell, WA-based Sonus Pharmaceuticals. After the job cuts, the company will have 27 full and part-time employees. OncoGenex stock fell 3.6 percent to $4.82 in its first … Continue reading “OncoGenex Cuts Half of Workforce, Leaving 27 Employees”
Paul Allen’s WWII Planes Show How Innovation Can Soar Ahead
Leave it to Paul Allen to create a museum that flies. Literally. This Saturday afternoon in the skies above Everett, WA. Okay, the museum doesn’t really fly, it’s an aircraft hangar that remains on terra firma. The part that flies is most everything inside the museum, which the billionaire with omnivorous interests calls his Flying … Continue reading “Paul Allen’s WWII Planes Show How Innovation Can Soar Ahead”
Q&A With Massachusetts’ Billion-Dollar Woman: Susan Windham-Bannister. Part 1.
Susan Windham-Bannister is pretty long as names go, so the staff simply calls her Dr. Sue. The moniker is short but her task is big. She’s the newly-hired president and CEO of the Massachusetts Life Sciences Center, the agency charged with administering Gov. Deval Patrick’s 10-year, $1 billion initiative to promote the industry in the … Continue reading “Q&A With Massachusetts’ Billion-Dollar Woman: Susan Windham-Bannister. Part 1.”
Sonus Shareholders Approve Merger With OncoGenex
Sonus Pharmaceuticals, (NASDAQ: [[ticker:SNUS]]) the Bothell, WA-based company that failed in an effort to develop a less toxic form of chemotherapy, said today its shareholders have approved a deal to merge with Vancouver, BC-based OncoGenex Technologies. The new company, to be called OncoGenex Pharmaceuticals, has applied to the Nasdaq to be traded under the symbol … Continue reading “Sonus Shareholders Approve Merger With OncoGenex”
Kryptiq Acquires Secure Network Solutions
Kryptiq, the Hillsboro, OR-based maker of software that enables health providers and health plans to share information, said it has acquired Portland, OR-based Secure Network Solutions. The acquisition allows Kryptiq to add features to help customers speed up work flow with its Connect IQ Platform, including automated appointment reminders, waitlist management and electronic billing statements, … Continue reading “Kryptiq Acquires Secure Network Solutions”
Hollister-Stier, a Year After Getting Bought by Indian Conglomerate, Grows in Spokane
Here’s a storyline you might find hard to believe if you get overdoses of election-year rhetoric about protecting American jobs. It goes like this: A growing conglomerate from India takes over an 86-year-old drug manufacturing operation in a small city in America’s Pacific Northwest. It decides not to ship the highly-skilled, high-paying jobs to a … Continue reading “Hollister-Stier, a Year After Getting Bought by Indian Conglomerate, Grows in Spokane”
CellCyte Genetics Running Out of Cash, Stops Paying Employees
CellCyte Genetics, the Bothell, WA-based stem cell research company, said today in a regulatory filing that it had $215,000 in cash and investments at the end of June, and it doesn’t have enough cash left to operate beyond the next month. The company, which had 17 employees at the beginning of the year, has stopped … Continue reading “CellCyte Genetics Running Out of Cash, Stops Paying Employees”
Abiomed To Sell 2.4 Million Shares of Common Stock
Abiomed, the Danvers, MA-based maker of devices to treat heart failure, said today it is offering 2.4 million shares of common stock. Morgan Stanley is the sole underwriter for the offering, which is being made through a shelf registration statement that became effective in Oct. 2006. Abiomed (NASDAQ: [[ticker:ABMD]]) has 33.7 million shares outstanding. The … Continue reading “Abiomed To Sell 2.4 Million Shares of Common Stock”
Fluke Networks Acquires Intellectual Property of Viola
Fluke Networks, an Everett, WA-based maker of wireless network technology, said in a statement it has acquired the intellectual property of Viola Networks including its NetAlly product line. Financial terms weren’t disclosed. Viola had raised more than $12 million in venture capital since 2004, from firms that include Evergreen Venture Partners, M/C Venture Partners, Polar … Continue reading “Fluke Networks Acquires Intellectual Property of Viola”
Helicos Promotes Steve Lombardi to CEO
Helicos Biosciences (NASDAQ: [[ticker:HLCS]]), the maker of tools for genetic researchers, said today it has promoted Steve Lombardi to CEO. Lombardi, 53, joined the company in October 2007 as president and chief operating officer. He takes over for Stan Lapidus, 59, who will remain chairman of the company’s board. We profiled Lombardi, a veteran of … Continue reading “Helicos Promotes Steve Lombardi to CEO”
Vertex Drug Poised for Pivotal Trial Among Patients Who Fail Prior Hepatitis C Treatments
Vertex Pharmaceuticals, the developer of telaprevir for hepatitis C, said today it has reached agreement with U.S. and European regulators to begin a pivotal trial for patients who failed to have their disease cured by prior therapies. The Cambridge, MA-based company (NASDAQ: [[ticker:VRTX]]) said it will enroll 650 patients in the study, called Realize. Vertex … Continue reading “Vertex Drug Poised for Pivotal Trial Among Patients Who Fail Prior Hepatitis C Treatments”
Trubion Hires Stromatt as Chief Medical Officer, Replacing Burge
Trubion Pharmaceuticals, the Seattle-based developer of treatments for autoimmune diseases, said today it has hired Scott Stromatt as senior vice president and chief medical officer. Stromatt previously oversaw clinical and regulatory affairs at Seattle-based Cell Therapeutics until he resigned in April. He will replace Daniel Burge, who is leaving the company in late August for … Continue reading “Trubion Hires Stromatt as Chief Medical Officer, Replacing Burge”
Dyax Shares Climb as Lead Drug Candidate Passes Trial
Dyax looks like it may have just transformed into a commercial drug company today. Shares in the Cambridge, MA-based company (NASDAQ: [[ticker:DYAX]]) shot up 15 percent today after it said its lead drug in development, DX-88, helped patients in a late-stage clinical trial with a rare, life-threatening disease called hereditary angioedema. Investors drove Dyax shares … Continue reading “Dyax Shares Climb as Lead Drug Candidate Passes Trial”
Association of Space Explorers Congress
The Association of Space Explorers is a non-profit professional and educational organization of over 300 space travelers (astronauts and cosmonauts) from 32 nations. Their 21st annual congress, focusing this year on planetary stewardship, will be held in Seattle Sept. 15-19. The opening ceremonies will be held at the Sheraton Hotel in downtown Seattle at 9 … Continue reading “Association of Space Explorers Congress”
Accelerator Bankrolls New Company, Mirina, To Develop MicroRNA-Blocking Drugs
Accelerator’s latest big idea is coming in a micro-sized package. The Seattle-based biotech startup machine, affiliated with Leroy Hood’s Institute for Systems Biology, has formed a new company called Mirina to develop so-called microRNA drugs. The new company is backed by the usual crew of investors in Accelerator, namely Alexandria Real Estate Equities (NYSE: [[ticker:ARE]]), … Continue reading “Accelerator Bankrolls New Company, Mirina, To Develop MicroRNA-Blocking Drugs”
Is Your City or Town BioReady? Mass Biotech Council Wants to Make It Happen
I have to admit this idea made me snicker when I first heard it. The Massachusetts Biotechnology Council, a trade group for state biotech companies, has set up a new program to advise cities and towns on how best to lure life sciences companies to expand into their jurisdictions. It sounded to me more than … Continue reading “Is Your City or Town BioReady? Mass Biotech Council Wants to Make It Happen”
Taligen CEO Aims to Develop Drugs For Inflammatory Diseases, Build Company in Cambridge
Abbie Celniker has been climbing biotech’s corporate ladder for much of her career. Higher and higher she went, in senior R&D jobs at Genentech, Wyeth Biopharma, Millennium Pharmaceuticals, and most recently as global head of Novartis Biologics in Cambridge, MA. Now, at 49, she has taken a detour to become CEO of a growing startup … Continue reading “Taligen CEO Aims to Develop Drugs For Inflammatory Diseases, Build Company in Cambridge”
Seattle Non-Profit PATH Set to Launch “Ultra Rice” to Fight Global Malnutrition
Duffy Cox and his dad, James, had a great idea that went nowhere for years. Their quest to develop Vitamin-A fortified rice, which could put a dent in global malnutrition, started in 1985. That’s when the father-and-son inventors at Bellingham, WA-based Bon Dente International, a research and development firm, were asked to give it a … Continue reading “Seattle Non-Profit PATH Set to Launch “Ultra Rice” to Fight Global Malnutrition”
An Accelerator, By Any Other Name…Does Not Smell as Sweet
Carl Weissman shook his head in disbelief when he got the e-mail. A couple years ago, the Cambridge Healthtech Institute in Massachusetts was inviting him to speak on a panel that wasn’t about how to start successful life sciences “incubators.” Instead, this discussion was about how to put together the same thing, but called a … Continue reading “An Accelerator, By Any Other Name…Does Not Smell as Sweet”
Sonus Obtains License From Bayer to Develop Cancer Drugs
Sonus Pharmaceuticals said today it has agreed to pay $450,000 upfront, plus future milestones and royalty payments, to obtain an exclusive license from Bayer to develop a family of drugs currently in animal testing. The compounds, caspase activators, are small molecules that can trigger cell suicide in cancer cells. Bothell, WA-based Sonus (NASDAQ: [[ticker:SNUS]]) has … Continue reading “Sonus Obtains License From Bayer to Develop Cancer Drugs”
Amgen Looks to Biomarkers to Boost Its Batting Average in Developing New Drugs
Amgen had an epiphany of sorts a little more than four years ago. The world’s largest biotech company decided clinical trials had become too much of a crapshoot, and it needed to shake up its way of developing new drugs. This really isn’t unique to Amgen, it’s more like an industry emergency. Drug companies spent … Continue reading “Amgen Looks to Biomarkers to Boost Its Batting Average in Developing New Drugs”
Alnylam’s In the Money: Expects $500 Million in Bank at Year-End
Alnylam Pharmaceuticals is building one big cash horde for a company with no moneymaking products. The Cambridge, MA-based biotech company said today that it expects to sign two or more “major new alliances” in the next six to 18 months, and it is now telling Wall Street it will have $500 million in cash in … Continue reading “Alnylam’s In the Money: Expects $500 Million in Bank at Year-End”
Genzyme, Isis Start Pivotal Trial for High Cholesterol
Cambridge, MA-based Genzyme (NASDAQ: [[ticker:GENZ]]) and its partner, Carlsbad, CA-based Isis Pharmaceuticals (NASDAQ: [[ticker:ISIS]]), said today they have started a pivotal clinical trial for patients with a genetic disorder that causes exceptionally high levels of cholesterol. The study will enroll 100 patients in the U.S. and Canada, to take 200 milligrams of the experimental drug … Continue reading “Genzyme, Isis Start Pivotal Trial for High Cholesterol”
Alnylam’s Ebola Work Gets $7.5 Million Commitment
Alnylam Pharmaceuticals (NASDAQ: [[ticker:ALNY]]) said today that the National Institutes of Health has committed $7.5 million to continue funding another year of its program to develop RNA interference technology against hemorrhagic fever virus, including the deadly Ebola virus. The Cambridge, MA-based company originally got the contract in September 2006, and has received $14.2 million for … Continue reading “Alnylam’s Ebola Work Gets $7.5 Million Commitment”
ZymoGenetics Drug Getting Off to Slow Start in Marketplace
ZymoGenetics executives have been tamping down sales expectations for months about the company’s first marketed product, and they weren’t kidding. Recothrom, a genetically engineered treatment for surgical bleeding approved by the FDA in January, eked out $1.4 million in net sales in the second quarter, the company said yesterday. Even Kevin DeGeeter, an analyst with … Continue reading “ZymoGenetics Drug Getting Off to Slow Start in Marketplace”
Novo Nordisk Returning to Seattle, Hiring 80 People by 2010
Novo Nordisk, the world’s biggest insulin producer for diabetes, apparently has a thing for Seattle. The Denmark-based drug maker is establishing a new research site in Seattle, that aims to employ 80 people by 2010, according to this job posting at nwsource.com. The news, first reported by the Seattle P-I’s Joe Tartakoff, represents a bit … Continue reading “Novo Nordisk Returning to Seattle, Hiring 80 People by 2010”
Life Sciences Discovery Fund Awards $5 Million of Grants to Six Researchers
Washington state’s Life Sciences Discovery Fund has awarded six grants to researchers totaling $5 million, the agency said today. Grant winners are Clifford Berkman and Diane Cook of Washington State University, and Eberhard Fetz, Cecilia Giachelli, Pierre Mourad, and Patrick Stayton of the University of Washington. The grants will fuel a variety of projects that … Continue reading “Life Sciences Discovery Fund Awards $5 Million of Grants to Six Researchers”
Clinical Data Acquires Adenosine To Expand Drug Pipeline
Clinical Data, the Newton, MA-based maker of diagnostic tests, said today it has acquired Adenosine Therapeutics to expand its roster of drug candidates in cardiology, diabetes, inflammatory diseases, and sickle cell anemia. Clinical Data (NASDAQ: [[ticker:CLDA]]) agreed to pay $11 million in cash for the Charlottesville, VA-based Adenosine, and also entered into a $22 million, … Continue reading “Clinical Data Acquires Adenosine To Expand Drug Pipeline”
Helicos Forms Collaboration with Uppsala University Researchers
Helicos Biosciences, (NASDAQ: [[ticker:HLCS]]) the Cambridge, MA-based maker of genetic analysis tools, said today that a genomics research group at Sweden’s Uppsala University has agreed to collaborate with the company’s scientists to examine changes in the nucleus of cells when they are exposed to growth factor proteins. Separately, the company announced that a U.S. cancer … Continue reading “Helicos Forms Collaboration with Uppsala University Researchers”
Epix Secures $50 Million Capital Commitment
Epix Pharmaceuticals, the Lexington, MA-based developer of an experimental drug for Alzheimer’s disease, said today that Kingsbridge Capital has committed to provide as much as $50 million of capital over the next three years through buying new shares. The actual amount raised by the company (NASDAQ: [[ticker:EPIX]]) will depend on the number of shares it … Continue reading “Epix Secures $50 Million Capital Commitment”
MDRNA Cuts 23 Jobs, Mostly in Nasal Delivery Business
MDRNA, a Bothell, WA-based developer of RNA interference drugs, said yesterday it has eliminated 23 jobs, leaving it with a staff of 55. Most of the cuts were from its nasal drug delivery program, which was the main concentration of the company for most of its history when it was named Nastech Pharmaceutical. Most employees … Continue reading “MDRNA Cuts 23 Jobs, Mostly in Nasal Delivery Business”
Navilyst Medical, Boston Scientific Spin-Off, Aiming to Tap Veins Without Causing Infections
Much has been written about Boston Scientific’s retrenching, in light of the decline in its business with stents, the tiny wire mesh devices that prop open clogged arteries. Now as Boston Scientific focuses on its core businesses, one of the units that has been spun off has a new name, Navilyst Medical. The company has … Continue reading “Navilyst Medical, Boston Scientific Spin-Off, Aiming to Tap Veins Without Causing Infections”
WTIA’s Ken Myer Aims to Get VC Views on Future, Not Past
Every quarter, we journalists do the national story about trends in venture capital investing. We slice and dice numbers that tell the narrative of where money went over the past three months. Less than a year ago, Ken Myer and the folks at the Washington Technology Industry Association thought they’d try something different: a survey … Continue reading “WTIA’s Ken Myer Aims to Get VC Views on Future, Not Past”
Alnylam Obtains Intellectual Property For RNA Activation, Turning Genes On Instead of Off
Alnylam Pharmaceuticals, the Cambridge, MA-based developer of drugs that work by inhibiting production of certain proteins, said today it has obtained key intellectual property for technology to do the opposite. The company (NASDAQ: [[ticker:ALNY]]) completed exclusive license agreements with the University of Texas Southwestern Medical Center, the University of California, San Francisco, and the Salk … Continue reading “Alnylam Obtains Intellectual Property For RNA Activation, Turning Genes On Instead of Off”
ConforMIS Introduces Third Implant for Arthritic Knees
ConforMIS, an orthopedic device maker in Burlington, MA, said today it is introducing the third product in its line of implants designed to make knee surgery less invasive. Made to order for each patient based on data from CT or MRI scans; these implants replace only the areas of the knee showing signs of osteoarthritis. … Continue reading “ConforMIS Introduces Third Implant for Arthritic Knees”
Liposonix, Maker of Ultrasound Fat-Buster, Will Still Grow Up in Bothell After Takeover
Everybody involved in a corporate takeover always says all the right things, but you never really know how the deal will shake out until some time passes. So I paid a visit last week to Jens Quistgaard to see for myself. His company, Bothell, WA-based Liposonix, agreed to be sold about six weeks ago to … Continue reading “Liposonix, Maker of Ultrasound Fat-Buster, Will Still Grow Up in Bothell After Takeover”
Wellpartner Raises $16.1 Million for Pharmacy Services
Wellpartner, a Portland, OR-based company that handles pharmacy services for health plans and Medicaid programs, said today it has raised $16.1 million in a fourth-round venture financing. Burrill & Co. led the investment, which included Credit Suisse, the manager of the Oregon Investment Fund, and previous backers, including Seattle-based Buerk Dale Victor and Integra Ventures, … Continue reading “Wellpartner Raises $16.1 Million for Pharmacy Services”
Biogen Idec, Elan Shares Plummet on News of Two PML Cases With Tysabri
Shareholders in Biogen Idec (NASDAQ: [[ticker:BIIB]]) and its partner Elan are getting pounded today. The Cambridge, MA-based biotech’s shares fell 25 percent, to $52.05 at 10:11 a.m. today after it reported two new cases of a rare, often fatal brain infection called PML, among patients taking its multiple-sclerosis drug Tysabri. Shares of Ireland-based Elan (NYSE: … Continue reading “Biogen Idec, Elan Shares Plummet on News of Two PML Cases With Tysabri”