All eyes aimed at Vertex Pharmaceuticals tend to focus, understandably, on its experimental drug for hepatitis C. The Cambridge, MA-based company showed in mid-stage clinical trials that the drug, called telaprevir, could eliminate the liver-damaging virus from the blood for about twice as many patients as do standard treatments; the firm is now on a … Continue reading “Vertex Marching Ahead With Cystic Fibrosis Program”
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.
Back from Vacation, Technology Alliance’s Susannah Malarkey Delivers the Goods On Startups
Susannah Malarkey had a relaxing vacation. How I can tell? The executive director of the Technology Alliance had such a restorative eight-day experience with family in central Oregon that when we sat down for coffee yesterday, and I asked for names of the most intriguing startups she’s seen lately, she drew a blank. I was … Continue reading “Back from Vacation, Technology Alliance’s Susannah Malarkey Delivers the Goods On Startups”
Biogen Idec, Elan Report Two New Cases of Rare Brain Infection in Tysabri Patients
Cambridge, MA-based Biogen Idec (NASDAQ: [[ticker:BIIB]]) and Ireland’s Elan reported some serious bad news this afternoon on their multiple sclerosis drug Tysabri. Two new patients taking the drug in Europe have developed the rare and often fatal brain infection progressive multifocal leukoencephalopathy, or PML, according to a regulatory filing with the Securities and Exchange Commission. … Continue reading “Biogen Idec, Elan Report Two New Cases of Rare Brain Infection in Tysabri Patients”
Northstar Neuroscience Cuts Jobs, Scraps Development of Stroke Treatment
Northstar Neuroscience said today it is cutting 34 percent of its workforce, scrapping development of its brain stimulation device for stroke patients, and switching gears to develop the technology for patients with depression. The Seattle company is left with 38 employees, and planning to sublease 40 percent of its office space. As we reported earlier … Continue reading “Northstar Neuroscience Cuts Jobs, Scraps Development of Stroke Treatment”
BIO’s Pacific Rim Summit on Industrial Biotechnology
The Biotechnology Industry Organization is holding its Pacific Rim Summit on Industrial Biotechnology and Bioenergy from Sept. 10-12 at the Westin Bayshore in Vancouver, BC. The conference will explore the latest science in biofuels, chemicals and sustainable resources. Featured speakers include David McElroy of Seattle-based Targeted Growth, Scott Baker of the Pacific Northwest National Laboratory … Continue reading “BIO’s Pacific Rim Summit on Industrial Biotechnology”
Imperium Cuts Undisclosed Number of Corporate Jobs
Imperium Renewables, the Seattle-based maker of biodiesel, has made job cuts in its corporate staff. The news, first reported in the Seattle P-I, was confirmed today by Imperium president John Plaza, through a spokesman. The company didn’t immediately disclose how many people were let go, or how many remain. The P-I story, citing an anonymous … Continue reading “Imperium Cuts Undisclosed Number of Corporate Jobs”
Seattle Genetics Starts Clinical Trial of SGN-70 For Autoimmune Disease
Seattle Genetics, the Bothell, WA-based developer of targeted antibody drugs, said today it has started an early-stage clinical trial to look at safety of SGN-70 in 60 healthy volunteers. The drug is designed to block CD70, a protein found in abundance on activated white blood cells, but not resting cells. The target has been linked … Continue reading “Seattle Genetics Starts Clinical Trial of SGN-70 For Autoimmune Disease”
Helicos Looking to Grow in Bay State, Thanks to Gov. Patrick’s Life Sciences Initiative
If things break right for Helicos Biosciences, president Steve Lombardi will have to make a big decision about growth. Specifically, where to build a manufacturing plant for hundreds of highly skilled people making its genetic analysis machines? To hear Lombardi tell the story, no decision has been made, but he’s leaning toward doing it in … Continue reading “Helicos Looking to Grow in Bay State, Thanks to Gov. Patrick’s Life Sciences Initiative”
Dendreon Holds Its Breath, Big Provenge Clinical Trial Result Coming In October
Dendreon’s David Urdal never fails to give off the impression that he’s a ballast for the company, at least in the dozens of times I’ve interviewed him in the past seven years. The even-keeled chief scientific officer has lived through all the ups and downs since he joined the Seattle biotech company back in its … Continue reading “Dendreon Holds Its Breath, Big Provenge Clinical Trial Result Coming In October”
Ariad Begins Clinical Trial of Breast Cancer Drug
Ariad Pharmaceuticals (NASDAQ: [[ticker:ARIA]]), the Cambridge, MA-based developer of cancer drugs, said today it has started a mid-stage clinical trial of a breast cancer treatment designed to help patients who resist Genentech’s Herceptin. The drug, an oral pill called deforolimus, is designed to block the mTOR protein, which acts like a “master switch” for cancer … Continue reading “Ariad Begins Clinical Trial of Breast Cancer Drug”
Infinity Pharmaceuticals Starts First Clinical Trial of Oral Hsp-90 Blocker
Infinity Pharmaceuticals (NASDAQ: [[ticker:INFI]]), the Cambridge, MA-based developer of cancer drugs, said today it has started its first clinical trial for IPI-493, an oral drug designed to block proteins that support tumor growth. The drug is meant to inhibit Hsp-90, like another intravenously-delivered compound, IPI-504, that’s being prepared for a pivotal clinical trial before the … Continue reading “Infinity Pharmaceuticals Starts First Clinical Trial of Oral Hsp-90 Blocker”
Cequint Gets Expanded Venture Financing of $7.1 Million
Cequint, a Seattle-based maker of Caller ID technology for mobile phones, has expanded a second round venture financing to a total of $7.1 million, according to a regulatory filing reported on by PE Week Wire. ISherpa Capital led the financing, and was joined by Benaroya Capital. The company’s application, called City ID, tells people which … Continue reading “Cequint Gets Expanded Venture Financing of $7.1 Million”
The Future of Biotech Is in Rabbits, Says Entrepreneur Johnny Stine
About 40 miles north of Seattle, on a rabbit farm, Johnny Stine thinks he has found a disruptive force for biotechnology. He’s building a startup, called North Coast Biologics, around the idea—without a penny from venture capitalists or more than a handful of employees. Ridiculous, right? “I wouldn’t bet against him,” says Carl Weissman, the … Continue reading “The Future of Biotech Is in Rabbits, Says Entrepreneur Johnny Stine”
Celator Raises $22.5 Million For Combination Chemo Drugs
Celator Pharmaceuticals, a biotech company with offices in Princeton, NJ and Vancouver, BC, said it has raised $22.5 million in a third round of venture financing to develop new combinations of chemotherapy drugs for cancer. Domain Associates, Ventures West, Quaker BioVentures, TL Ventures, GrowthWorks Capital and BDC Capital all participated. Kenneth Galbraith, general partner at … Continue reading “Celator Raises $22.5 Million For Combination Chemo Drugs”
BG Medicine, Targeting Clues in Blood, Aims to Predict Whether a Drug Will Help
Most biotech companies want doctors to write lots of prescriptions for their drugs. BG Medicine, a privately held diagnostics maker in Waltham, MA, sees opportunity in saying when that’s a waste of time and money. Take, for example, Genentech’s Avastin. The drug, the first of its kind to choke off blood supply to lung, colon, … Continue reading “BG Medicine, Targeting Clues in Blood, Aims to Predict Whether a Drug Will Help”
Camping at Google: ISB Scientist Nitin Baliga Joins Elite Science Confab
You know you’ve arrived when Google invites you to headquarters in Mountain View, CA for a camp with 200 leading scientists, techies, and writers. Nitin Baliga, a rising star at the Institute for Systems Biology in Seattle, got the coveted invite to something called Science Foo along with better-known names like inventor Dean Kamen, technology … Continue reading “Camping at Google: ISB Scientist Nitin Baliga Joins Elite Science Confab”
AVI Biopharma Hires New CFO, President On His Way Out
AVI Biopharma, (NASDAQ: [[ticker:AVII]]) a Portland, OR-based developer of drugs using RNA interference technology, said today it has hired J. David Boyle II as chief financial officer, while current CFO Mark Webber will become general manager of finance and administration. Alan Timmins, the current president and chief operating officer, will leave the company and his … Continue reading “AVI Biopharma Hires New CFO, President On His Way Out”
Acusphere Cuts 24 Jobs, While It Waits for FDA Decision Date
Acusphere, the Watertown, MA-based developer of the cardiovascular contrast agent Imagify, said today it has cut 24 jobs, or about 24 percent of its staff. The company (NASDAQ: [[ticker:ACUS]]) is trying to save cash while it waits for the FDA’s Feb. 28 deadline to decide on whether to approve Imagify for sale in the U.S. … Continue reading “Acusphere Cuts 24 Jobs, While It Waits for FDA Decision Date”
Epix CEO Resigns After Bumpy Road with Products for Depression, Alzheimer’s
Here’s a CEO resignation that caught me by surprise this morning. Epix Pharmaceuticals CEO Michael Kauffman stepped down as CEO and as a member of the company’s board of directors, as of last Friday, according to a statement from the Lexington, MA-based company. He left for the proverbial chance to “pursue other opportunities.” Kauffman, 44, … Continue reading “Epix CEO Resigns After Bumpy Road with Products for Depression, Alzheimer’s”
Caliper Bets Future on Tools That Light Up Genes Before Researchers’ Eyes
One of the hottest cancer treatments on the market today would have died in the lab if not for a drug discovery tool made by Hopkinton, MA-based Caliper Life Sciences (NASDAQ: [[ticker:CALP]]). The story, as told by Caliper CEO Kevin Hrusovsky, goes something like this: Sugen, a small Redwood City, CA-based biotech company later acquired … Continue reading “Caliper Bets Future on Tools That Light Up Genes Before Researchers’ Eyes”
NeuroVista, Emerging from Stealth Mode, Unveils Technology to Predict Epileptic Seizures
[Updated and corrected: 1 pm Pacific 9/9/10] NeuroVista has said next to nothing in public about how its technology works, until today. After sitting down for an exclusive interview with CEO John Harris at his office in Seattle’s Fisher Plaza, all I can say is that if its technology is half as good as he … Continue reading “NeuroVista, Emerging from Stealth Mode, Unveils Technology to Predict Epileptic Seizures”
Greater Seattle Chamber Meeting, Leroy Hood Address
More than 1,000 of the region’s business and civic leaders will meet on Friday, Sept. 19 for the annual meeting of the Greater Seattle Chamber of Commerce. The meeting will examine global health, a $4.1 billion sector in our state that has much of its activity based in the Puget Sound region. Leroy Hood, president … Continue reading “Greater Seattle Chamber Meeting, Leroy Hood Address”
RF Surgical Raises $8.2 million From Menlo Ventures and Stanford University
RF Surgical, a Bellevue-based medical device company, said it has raised $8.2 million in a Series A round of venture capital from Menlo Ventures and Stanford University. The company markets an FDA approved system that alerts doctors if surgical material, like sponges, gauze or towels, are left inside a patient before incisions are closed back … Continue reading “RF Surgical Raises $8.2 million From Menlo Ventures and Stanford University”
Amgen Osteoporosis Drug Reduces Bone Fractures in Pivotal Study
Amgen, the world’s largest biotechnology company, said today that its experimental drug for osteoporosis reduced the rate of fractures in a pivotal clinical trial of 7,800 women who took the drug or a placebo. The rate of side effects, including infections, were similar for patients on denosumab and the placebo, the company said. Thousand Oaks, … Continue reading “Amgen Osteoporosis Drug Reduces Bone Fractures in Pivotal Study”
Google Gives $300,000 to Oregon State University for Open Source Projects
Google has donated $300,000 to Oregon State University to build more capacity at its open source computing lab, which means the company has now given a total of $750,000 to the lab, the university said in a statement. The money will further the work of the university, which has already played a role in some … Continue reading “Google Gives $300,000 to Oregon State University for Open Source Projects”
Harvard Stem Cell Institute Wins $25 Million Investment From GlaxoSmithKline
GlaxoSmithKline, the world’s second-biggest drugmaker, said it agreed to invest $25 million over five years in the Harvard Stem Cell Institute for a collaboration to develop new treatments. London-based Glaxo (NYSE: [[ticker:GSK]]) said the collaboration will spur research at Harvard and at least four affiliated hospitals to study neuroscience, cancer, diabetes, obesity and musculoskeletal diseases. … Continue reading “Harvard Stem Cell Institute Wins $25 Million Investment From GlaxoSmithKline”
From Tech to Biotech: Former Corbis CEO Steve Davis Tackles Global Health With IDRI
Steve Davis got some funny looks in May after word spread of his latest career move. The former CEO of Corbis, the digital image company backed by Bill Gates, has a reputation as a strategic thinker in Seattle’s business and community circles. He serves on the boards of the Fred Hutchinson Cancer Research Center, PATH, … Continue reading “From Tech to Biotech: Former Corbis CEO Steve Davis Tackles Global Health With IDRI”
Biogen Idec Adds New Board Member: Another Line of Defense From Icahn?
Biogen Idec just added a member to its board of directors. Boring, you say. So what? Ok, given that the Cambridge, MA-based biotech company (NASDAQ: [[ticker:BIIB]]) just emerged triumphant last month from a blistering fight with billionaire investor Carl Icahn, who wanted to take over three of the company’s 12 board seats, we couldn’t help … Continue reading “Biogen Idec Adds New Board Member: Another Line of Defense From Icahn?”
Genocea Names Bakali as Board’s Executive Director
Genocea Biosciences, a privately-held vaccine developer in Cambridge, MA, said it has added Staph Bakali to its board as executive director. Bakali was formerly the chief operating officer of ID Biomedical, a Vancouver, BC-based vaccine developer that was acquired by drug giant GlaxoSmithKline in 2005 for $1.4 billion. Genocea is working on a variety of … Continue reading “Genocea Names Bakali as Board’s Executive Director”
Spiration, Olympus Sign Lung-Valve Partnership in Japan
Spiration, a Redmond, WA-based maker of medical devices for lung diseases, said it signed a deal to allow Tokyo-based Olympus to distribute its minimally-invasive device for emphysema patients in Japan. Financial terms weren’t disclosed, although Olympus will pay for clinical trials needed in Japan, and file applications to regulators there, Spiration said. The two companies … Continue reading “Spiration, Olympus Sign Lung-Valve Partnership in Japan”
Cell Therapeutics Raises $44.5 Million From Institutional Investor
Cell Therapeutics, the Seattle-based developer of cancer drugs, said today it has raised $44.5 million in convertible debt and warrants from a single institutional investor it didn’t name. The notes, which come at 18.3 percent interest and come due in 2011, can convert to stock if Cell Therapeutics’ shares climb above 79 cents. Late Friday, … Continue reading “Cell Therapeutics Raises $44.5 Million From Institutional Investor”
Light Sciences Oncology, Led by CEO on the Go, Prepares for Its Big Day
Llew Keltner flies about 600,000 miles a year. The CEO of Light Sciences Oncology insists he can’t imagine doing his job any other way. There are doctors in about 30 countries testing his company’s experimental drug/device combo treatment in clinical trials of cancer patients. He meets the physicians in person, twice a year, to talk … Continue reading “Light Sciences Oncology, Led by CEO on the Go, Prepares for Its Big Day”
Massachusetts Life Sciences Center Announces Board, Approves $7 Million in Grants
The Massachusetts Life Sciences Center, in charge of administering the state’s newly-enacted $1 billion, 10-year program to boost the biotech industry, announced the members of its board of directors today and, in one of its first actions, voted to approve $7 million in grants. The seven-member board includes Joshua Boger, CEO of Vertex Pharmaceuticals (NASDAQ: … Continue reading “Massachusetts Life Sciences Center Announces Board, Approves $7 Million in Grants”
Dendreon Expects Interim Provenge Trial Results in October
Dendreon, the developer of treatments to stimulate the immune system to fight cancer, said today it expects interim results in October from a clinical trial of 500 men with terminal prostate cancer. The Seattle-based biotech company (NASDAQ: [[ticker:DNDN]]) said it hopes to use the data, which looks at whether Provenge can help men with the … Continue reading “Dendreon Expects Interim Provenge Trial Results in October”
From Garbage to Ethanol: InEnTec’s Method At Heart of $120 Million Refinery
Who needs corn to make ethanol, when we already have plenty of garbage? InEnTec, a small company created by scientists from MIT and the Pacific Northwest National Laboratory in Richland, WA, has taken that idea of creating ethanol from garbage and pushed it for 13 years, to the point where it is now at the … Continue reading “From Garbage to Ethanol: InEnTec’s Method At Heart of $120 Million Refinery”
WBBA Hires Two Executives To Nurture Biotech Startups
The Washington Biotechnology and Biomedical Association, the state’s biotech industry trade group, has hired Joe Sasenick and Dick Haiduck as part-time life sciences commercialization consultants to help nurture more startups in the state. Sasenick is a consultant that helps companies identify corporate board members, and Haiduck is currently “Partner to the CEO” of Cytopia and … Continue reading “WBBA Hires Two Executives To Nurture Biotech Startups”
Infinity Adds Two New Members To Board of Directors
Infinity Pharmaceuticals, (NASDAQ: [[ticker:INFI]]) a Cambridge, MA-based developer of cancer drugs, said today it has added two new members to its board, Martin Babler and Ian Smith. Babler is CEO of Talima Therapeutics, a privately-held drug delivery company in San Carlos, CA, and previously held senior marketing positions at Genentech (NYSE: [[ticker:DNA]]). Smith is chief … Continue reading “Infinity Adds Two New Members To Board of Directors”
Ballard Power, IdaTech Sign Supply Deal For Backup Power Systems
Ballard Power, a Burnaby, BC-based maker of hydrogen fuel cell products, said it has signed a three-year agreement to supply fuel cells to become part of Bend, OR-based IdaTech’s methanol-fuelled backup power system. The system, called ElectraGen, will offer 3 kilowatts or 5 kilowatts of power, enough for days of backup, instead of hours, to … Continue reading “Ballard Power, IdaTech Sign Supply Deal For Backup Power Systems”
Biogen Idec, Elan Say More Than 31,800 Patients Taking Tysabri For MS
Cambridge, MA-based Biogen Idec and its Irish partner, Elan, said today their multiple sclerosis drug Tysabri is being taken by more than 31,800 patients worldwide, and no new cases of the brain infection called PML have been detected since the drug was brought back to the U.S. market two years ago. Biogen (NASDAQ: [[ticker:BIIB]]) is … Continue reading “Biogen Idec, Elan Say More Than 31,800 Patients Taking Tysabri For MS”
Geospiza Gets University of Florida to Buy New Software
Geospiza, the Seattle-based maker of software to support biological research, said today the University of Florida’s Interdisciplinary Center for Biotechnology Research has bought GeoSpiza’s FinchLab to help sort through data from next-generation gene sequencing tools. The university is a longtime customer, and first started using Geospiza’s products eight years ago. The privately-held company has been … Continue reading “Geospiza Gets University of Florida to Buy New Software”
Epix Unveiling Full Alzheimer’s Results at Medical Meeting, No More Surprises
Epix Pharmaceuticals is having a wild year with its Alzheimer’s drug development program. Shares in the Lexington, MA-based company (NASDAQ: [[ticker:EPIX]]) shot up 35 percent in one day in December after it said its drug produced one of the best improvements ever in memory and thinking skills for Alzheimer’s patients in a clinical trial. One … Continue reading “Epix Unveiling Full Alzheimer’s Results at Medical Meeting, No More Surprises”
Northwest Biotech Startups Can Get Talent and Venture Bucks, But UW Could Use Some Culture Shock, CEOs Say
Tom Ranken is the first to admit he can get a bit ornery on the subject of venture capital in the Northwest. “It used to make me foam at the mouth when VCs would say there’s plenty of money out there and all the good ideas get funded,” he says. But now Ranken, the former … Continue reading “Northwest Biotech Startups Can Get Talent and Venture Bucks, But UW Could Use Some Culture Shock, CEOs Say”
Biogen Idec Isn’t Sweating Possible Sale of Genentech to Roche
Big biotech news came yesterday from Basel, Switzerland, where pharmaceutical giant Roche announced an unsolicited $43.7 billion bid to buy the rest of South San Francisco-based Genentech (NYSE: [[ticker:DNA]]) that it doesn’t already own. The news has a ripple effect in Massachusetts for smaller biotechs that have partnerships with Genentech, the industry’s pioneering company. That … Continue reading “Biogen Idec Isn’t Sweating Possible Sale of Genentech to Roche”
Cell Therapeutics Says It’s Running Low on Cash
Cell Therapeutics is running seriously low on fuel. The Seattle-based biotech company, which has run up an accumulated deficit of $1.2 billion in its 17-year history, said late Friday in a regulatory filing it doesn’t have enough cash to operate the next 30 days, and needs to raise new capital immediately. The company had cash … Continue reading “Cell Therapeutics Says It’s Running Low on Cash”
BioEnergy International Acquires Assets of OmniGene Bioproducts
BioEnergy International, a privately-held developer of biofuels and renewable biochemicals based in Quincy, MA, said it has acquired certain assets from Cambridge, MA-based OmniGene Bioproducts. The acquisition gives BioEnergy skilled employees in molecular biology, cell biology and fermentation technology, the company said. Financial terms of the agreement weren’t disclosed.
Pathway Wins FDA Approval To Sell Blocked-Artery Buster
Christmas has come in July for Pathway Medical Technologies. The privately-held maker of medical devices in Kirkland, WA, has won FDA approval to market its first product in the U.S., a drill that cuts and vacuums out blockages in leg arteries. CEO Tom Clement had an antsy look on his face last Wednesday, like a … Continue reading “Pathway Wins FDA Approval To Sell Blocked-Artery Buster”
Halosource Raises $11.5 Million for Water Purification Technology
Halosource, the Bothell, WA-based maker of water purification technology for the developing world, has raised $11.5 million in venture financing. The investors include Origo Sino India, Unilever Technology Ventures and others. The company has gained some serious momentum in the last year in India, as we wrote about earlier this month. It has now established … Continue reading “Halosource Raises $11.5 Million for Water Purification Technology”
Socializing at WBBA: Tom Ranken’s Surprise, Insilicos Goes In Vivo, and Cleantechs to Watch in the Tri-Cities
Last night I rode my bike down from our First Hill office to Lake Union Park to mingle with some biotechies. This year, the Washington Biotechnology and Biomedical Association’s annual Summer Social was tucked inside the Naval Reserve Building, although the way the West-facing windows let in so much early evening sunlight, it was almost … Continue reading “Socializing at WBBA: Tom Ranken’s Surprise, Insilicos Goes In Vivo, and Cleantechs to Watch in the Tri-Cities”
RXi Takes a Untraditional Route to the Public Market, Now Working To Get Pharma to Pay The Bills
Tod Woolf’s company, RXi Pharmaceuticals, has a lot of things going for it. The CEO’s old Harvard classmate—and Nobel Prize winner—Craig Mello leads his scientific advisory board, and the company has technology, RNA interference, that big drugmakers are paying big bucks for. So could this startup make it through a traditional initial public offering in … Continue reading “RXi Takes a Untraditional Route to the Public Market, Now Working To Get Pharma to Pay The Bills”
Sonus Pharmaceuticals Holds On To Nasdaq Listing
Sonus Pharmaceuticals, a Bothell, WA-based cancer drug developer, said today that a stock exchange hearings panel has allowed the company to hold onto its listing (NASDAQ: [[ticker:SNUS]]), as long as it meets certain conditions by Aug. 29. The company is implementing a reverse stock split, and is merging with Vancouver, BC-based Oncogenex Technologies. Sonus has … Continue reading “Sonus Pharmaceuticals Holds On To Nasdaq Listing”