The ocean is home to more biodiversity than anywhere else on the planet—making it a largely untapped source of opportunity for researchers studying marine organisms as a source of novel drug leads. “The unique adaptations of marine organisms have made them valuable models for biomedical research, enhancing our understanding of fundamental biological processes, such as … Continue reading “Of Science and Sea Urchins: Researchers Plumb Oceans for Biological Insights”
Author: Melissa Fassbender
Mayo Clinic Joins $60M Financing for Biomedical Software Firm nference
Startup nference has closed a $60 million Series B financing round to expand the use of its augmented intelligence platform in clinical research and drug development. Mayo Clinic and NTT Venture Capital joined previous investors Matrix Partners and Matrix Capital Management, which participated in the Cambridge, MA-based company’s Series A round in 2018. The relationship … Continue reading “Mayo Clinic Joins $60M Financing for Biomedical Software Firm nference”
Phage Therapy Firm APT Lands DoD Contract for Antibiotic Alternative
The Department of Defense has awarded Adaptive Phage Therapeutics a $10.2 million contract to help advance its experimental therapy for the treatment of multidrug-resistant infections. Gaithersburg, MD-based Adaptive Phage Therapeutics (APT) says it will pursue a two-year multi-site clinical trial as it looks to get the OK from the FDA, which considers phage to be … Continue reading “Phage Therapy Firm APT Lands DoD Contract for Antibiotic Alternative”
Pfizer Taps Insilico Medicine to Use AI for Drug Target Discovery
Insilico Medicine on Tuesday announced that it has entered a research collaboration with Pfizer, which Insilico CEO Alex Zhavoronkov says has “one of the most advanced AI teams internally both in target identification and chemistry.” Under the agreement, Pfizer (NYSE: [[ticker:PFE]]) will use Insilico’s machine learning technology and proprietary Pandomics Discovery Platform. Pfizer, not new … Continue reading “Pfizer Taps Insilico Medicine to Use AI for Drug Target Discovery”
NeoGenomics Nabs Human Longevity’s Oncology Division for $37M
The genetic testing company NeoGenomics has acquired Human Longevity’s oncology division, which provides next-generation sequencing services. The division of San Diego-based Human Longevity generated approximately $10 million in revenue in 2019—an amount NeoGenomics (NASDAQ: [[ticker:NEO]]) thinks it can grow by nearly 50 percent, says Charlie Eidson, investor relations and corporate development analyst, NeoGenomics. Additionally, the … Continue reading “NeoGenomics Nabs Human Longevity’s Oncology Division for $37M”
Biogen Adds Another Neuro Drug to Pipeline in Deal With Pfizer
Continuing to make headlines in the neurodegenerative disease space, Biogen on Monday announced a deal to acquire a clinical-stage Pfizer asset that has potential applications in Alzheimer’s and Parkinson’s disease, for $75 million. Cambridge, MA-based Biogen (NASDAQ: [[ticker:BIIB]]) could end up paying Pfizer (NYSE: [[ticker:PFE]]) up to $635 million in potential milestone payments and royalties, … Continue reading “Biogen Adds Another Neuro Drug to Pipeline in Deal With Pfizer”
Roche Pays $40M to Use Amunix Pharma’s Half-Life Extension Tech
Roche will pay Amunix Pharmaceuticals $40 million up front to use the company’s proprietary technology to discover and develop new drugs outside of the oncology space. The clinically validated platform—XTEN—is a proprietary unstructured polypeptide, which when attached to molecules, can extend the half-life of drugs with low associated immunogenicity, according to Amunix. As per the … Continue reading “Roche Pays $40M to Use Amunix Pharma’s Half-Life Extension Tech”
UK Startups Double in Number Backed By Larger Scale Investments: Report
Investors pumped £2.8 billion ($3.67 billion) into UK-based startups between 2014-2018, marking a four-fold increase from the previous five-year time period, according to a report published by the Nottingham-based incubator, BioCity. Among the biggest changes in this space over the past five years has been an increase in the scale of investments made into early-stage … Continue reading “UK Startups Double in Number Backed By Larger Scale Investments: Report”
Novo Holdings Repositions Antibiotics Funding Amid “Deteriorated” Market
Novo Holdings is repositioning the strategic focus of its REPAIR Fund in order to provide later-stage support to its portfolio companies, as the struggling antibiotics industry faces a dearth of investment. The Danish investor launched its REPAIR Impact Fund in 2018. An acronym for “Replenishing and Enabling the Pipeline for Anti-Infective Resistance,” the fund has … Continue reading “Novo Holdings Repositions Antibiotics Funding Amid “Deteriorated” Market”
Takeda to Fund AI Projects at MIT as Part of New 3-Year Collaboration
Takeda is teaming up with MIT to advance projects intended to enhance its understanding of how to best use artificial intelligence to solve some of the biopharma industry’s biggest challenges. The Japanese company (NYSE: [[ticker:TAK]]) will fund six to 10 projects per year for three years. Financial terms of the agreement, which includes a potential … Continue reading “Takeda to Fund AI Projects at MIT as Part of New 3-Year Collaboration”
China’s CF PharmTech Raises $90M to Advance Respiratory Drug Development
The China-based pharmaceutical company CF PharmTech has raised $90 million to support its pipeline of respiratory drugs. The Series E investment round was led by New Alliance Capital. New investors CR-CP Life Science Fund, Finnova Capital, GT Capital, Co-stone Asset Management, Xiangcheng Financial Holdings, and Everest Venture Capital, joined earlier investors, including Oriza Holdings, Longmen … Continue reading “China’s CF PharmTech Raises $90M to Advance Respiratory Drug Development”
Aridis Promotes Michael Nazak to Chief Financial Officer
Aridis Pharmaceuticals (NASDAQ: [[ticker:ARDS]]) has appointed Michael Nazak to the role of chief financial officer. He succeeds Fred Kurland, who has retired but will continue working with the San Jose, CA-based company as a consultant. Nazak joined Aridis in late 2018 as the vice president of finance. Previously, he served as senior vice president of … Continue reading “Aridis Promotes Michael Nazak to Chief Financial Officer”
Coughlin Takes Over as Chief Medical Officer at Rubius
Rubius Therapeutics (NASDAQ: [[ticker:RUBY]]) out of Cambridge, MA, has named Christina Coughlin as the company’s chief medical officer, as Chris Carpenter, who holds the position until January 6, transitions to a scientific advisory role. Coughlin is a trained oncologist and immunologist and joins Rubius from Tmunity Therapeutics, where she was the chief medical officer. Prior … Continue reading “Coughlin Takes Over as Chief Medical Officer at Rubius”
Wave’s Huntington’s Drug Disappoints in Clinical Trial, Stock Sinks
Wave Life Sciences’ stock took another plunge after the company reported early results from its Huntington’s disease study. Cambridge, MA-based Wave Life Sciences (NASDAQ: [[ticker:WVE]]) earlier this week released topline data from its ongoing Phase 1b/2a PRECISION-HD2 trial evaluating WVE-120102. The experimental therapy is being developed for the potential treatment of Huntington’s disease (HD), a … Continue reading “Wave’s Huntington’s Drug Disappoints in Clinical Trial, Stock Sinks”
Evotec CEO Discusses Ways to Make Drug R&D Faster and Better
Partnering and sharing data will improve the research and development process for all pharmaceutical industry stakeholders, of which there are more than ever, according to a top executive at Evotec. “Imagine that everyone would drill a hole into the ocean to dig for oil alone—it would be largely and heavily inefficient,” said Evotec CEO Werner … Continue reading “Evotec CEO Discusses Ways to Make Drug R&D Faster and Better”
ArcherDX Raises $55M to Help Physicians Pick Best Cancer Therapies
2020 will be a big year for ArcherDX, says its CEO on the heels of raising $55 million to advance its companion diagnostics platform—which is intended to make precision medicine an option for patients in earlier stages of disease. Headquartered in Boulder, CO, the company will use the Series C funds to expand its global … Continue reading “ArcherDX Raises $55M to Help Physicians Pick Best Cancer Therapies”
Orbiting Organoids: Research in Space to Unveil New Neurodegeneration Insight
More than 250 miles above the Earth’s surface aboard the International Space Station, a first-in-kind study of neurodegenerative disease is expected to reveal never-before-seen cell interactions. The National Stem Cell Foundation (NSCF) is funding the study, which is the result of a bi-coastal collaboration between the New York Stem Cell Foundation (NYSCF) Research Institute and … Continue reading “Orbiting Organoids: Research in Space to Unveil New Neurodegeneration Insight”
ALS Fund Talks Investments and Strategy as it Kicks Off $100M Campaign
The ALS Investment Fund has teamed with the ALS Association and is looking to establish new partnerships as part of its efforts to raise $100 million and collate a diversified set of portfolio companies. Craig Boyce, managing partner of the ALS Investment Fund, tells Xconomy it would have been crazy to start the fund 25 … Continue reading “ALS Fund Talks Investments and Strategy as it Kicks Off $100M Campaign”
Wave Stock Crashes After Decision to Halt Duchenne Drug Studies
Wave Life Sciences saw its stock price plunge nearly 60 percent Monday following the company’s decision to discontinue development of its investigational Duchenne muscular dystrophy drug, suvodirsen, after an interim analysis from a Phase 1 study. Cambridge, MA-based Wave (NASDAQ: [[ticker:WVE]]) was testing suvodirsen as a potential treatment for Duchenne, a genetic neuromuscular disorder that … Continue reading “Wave Stock Crashes After Decision to Halt Duchenne Drug Studies”
Cell Reprogramming Startup Bit Bio Inks Pact With Charles River
Charles River Laboratories International is making moves in the cell therapy space after signing on the cell reprogramming startup Bit Bio and announcing plans to acquire a biomaterials company for $380 million. The Wilmington, MA-based contract research organization (CRO) last week announced that it has entered into an exclusive discovery and safety services partnership with … Continue reading “Cell Reprogramming Startup Bit Bio Inks Pact With Charles River”
Building a Better 3D Bioprinter: GE Healthcare and ASLS Combine Tech
GE Healthcare Life Sciences and ASLS have teamed up to offer a new platform that can design, build, and image living 3D tissue models for drug discovery and development. ASLS, Advanced Solutions Life Sciences, is a subsidiary of Advanced Solutions headquartered in Louisville, KY. Its patented Angiomics technology enables users to create 3D tissue models … Continue reading “Building a Better 3D Bioprinter: GE Healthcare and ASLS Combine Tech”
Zentalis Steps Out With $147M Raised to Develop “Tried and True” Small Molecules
Zentalis Pharmaceuticals is banking on small molecules for cancer—leaving the “cool technologies” aside for a “tried and true” approach, says the CEO, who wants to let the science speak for itself. Since it was founded five years ago, the company has moved three compounds into the clinic. How? By operating under the radar. “If you … Continue reading “Zentalis Steps Out With $147M Raised to Develop “Tried and True” Small Molecules”
Aurinia Plans FDA Filing After Lupus Nephritis Drug Hits Phase 3 Goals
Aurinia shares spiked last week after voclosporin, an immunosuppressant being tested in patients with lupus nephritis, met its primary and secondary endpoints in a Phase 3 study. Aurinia Pharmaceuticals (NASDAQ: [[ticker:AUPH]]) is testing its drug, voclosporin, as a treatment for lupus nephritis (LN), which can occur when lupus, an autoimmune disorder, causes the immune system … Continue reading “Aurinia Plans FDA Filing After Lupus Nephritis Drug Hits Phase 3 Goals”
BridgeBio Pharma Onboards Eli Wallace to Lead Oncology Programs
Palo Alto, CA-based BridgeBio Pharma (NASDAQ: [[ticker:BBIO]]) has named Eli Wallace as its chief scientific officer in residence for oncology. In this role, Wallace will oversee the company’s current drug discovery projects, while helping identify and develop new oncology programs. Wallace has more than two decades of experience and was most recently the chief scientific … Continue reading “BridgeBio Pharma Onboards Eli Wallace to Lead Oncology Programs”
Insitro Hires Serafim Batzoglou As Its First Chief Data Officer
The San Francisco-based drug discovery startup, Insitro, has hired its first chief data officer. Serafim Batzoglou joins the company from Illumina (NASDAQ: [[ticker:ILMN]]), out of San Diego, where he was the vice president of applied and computational biology. He also was a professor of computer science at Stanford University and co-founded the genomics analytics startup, … Continue reading “Insitro Hires Serafim Batzoglou As Its First Chief Data Officer”
AstraZeneca Taps Gatehouse Bio to Identify Potential Drug Targets
After joining AstraZeneca’s Boston Bio Hub incubator last year, Gatehouse Bio is now teaming up with the pharma company to identify potential drug targets in respiratory and cardiovascular diseases. Under the collaboration, expected to last multiple years, Gatehouse will use its sRNAlytics platform to identify small RNA (sRNA) signatures, which the company says help in … Continue reading “AstraZeneca Taps Gatehouse Bio to Identify Potential Drug Targets”
Civetta Therapeutics Unveils a Propeller Protein Plan, $53M in Funding
New biotech company Civetta Therapeutics has closed a $53 million Series A financing round to develop drugs that target “propeller proteins” as a way of treating cancers and other diseases. Propeller proteins are found throughout nature, and the circularly arranged “blades” of these proteins commonly serve as active sites to which molecules can bind. Bruce … Continue reading “Civetta Therapeutics Unveils a Propeller Protein Plan, $53M in Funding”
FDA Green Lights Sight Diagnostics’ Finger-Prick Blood Test
Sight Diagnostics today announced it has received US FDA 510(k) clearance to use its patented OLO analyzer, which performs a complete blood count using two drops of blood. The FDA clearance gives hospital-run laboratories, diagnostic providers, and outpatient clinics the go-ahead to use the device, which captures around 1,000 images that are then interpreted by … Continue reading “FDA Green Lights Sight Diagnostics’ Finger-Prick Blood Test”
GHO Capital Raises Over $1bn, Eyes Biotech Outsourcing Services
GHO Capital will use the money raised to invest in healthcare, including outsourced service providers, which are seeing demand from smaller biotechs, according to a Jefferies analyst. GHO Capital raised €975 million ($1.1 billion), which exceeded its €800 million target, and is 50% larger than its 2015 maiden fund. Fund II LP is the largest … Continue reading “GHO Capital Raises Over $1bn, Eyes Biotech Outsourcing Services”
Caraway Therapeutics Names Martin Williams as CEO
Cambridge, MA-based Caraway Therapeutics has named Martin Williams as its CEO. Williams joins the company, which is looking to treat neurodegenerative diseases by preserving neurons, from Yuma Therapeutics where he was the executive chairman. He will remain on Yuma’s board of directors. With more than 30 years of industry experience, Williams has held several leadership … Continue reading “Caraway Therapeutics Names Martin Williams as CEO”
A Safer CRISPR? Cyrus, Broad Institute Look to Quell Concerns
Cyrus Biotechnology and the Broad Institute of MIT and Harvard have teamed up to make gene editing with the CRISPR-Cas9 technology safer. The multi-target collaboration, specific details of which are not being disclosed, aims to address longstanding concerns surrounding gene editing: some patients might be predisposed to an immune reaction to the DNA-cutting enzyme Cas9. … Continue reading “A Safer CRISPR? Cyrus, Broad Institute Look to Quell Concerns”
Curtis Ruegg to Succeed Amphivena Founder As New CEO, President
Curtis Ruegg will join Amphivena Therapeutics as president and CEO as the company’s founder Jeanmarie Guenot transitions to an advisory role. The San Francisco company, which has raised $88.5 million from outside investors, is is developing a type of immunotherapy called T cell engagers. Ruegg joins Amphivena from Parvus Therapeutics, where he held the same … Continue reading “Curtis Ruegg to Succeed Amphivena Founder As New CEO, President”
Deep 6 AI Adds $17M To Advance Clinical Trial Recruitment Software
Software startup Deep 6 AI has developed a system that analyzes a range of patient health records to accelerate the process of identifying candidates for clinical trial recruitment—a longstanding bottleneck in the drug development process. The Pasadena, CA-based company, founded in 2015, recently raised $17M in Series A funding to advance its software system, which … Continue reading “Deep 6 AI Adds $17M To Advance Clinical Trial Recruitment Software”
AstraZeneca, Novoheart to Co-Develop New Heart Model
AstraZeneca has turned to Novoheart’s “human heart-in-a-jar” technology to create a preclinical model that mimics a form of heart failure for which there is no effective therapy available. Based on Novoheart’s human ventricular cardiac organoid chamber (hvCOC) technology, the companies are aiming to develop a new in vitro model that can reproduce the characteristics of … Continue reading “AstraZeneca, Novoheart to Co-Develop New Heart Model”
AI Startup Healx Looks to Find Repurposable Drugs for Rare Diseases
Off the heels of a $56 million Series B funding round, Cambridge, UK-headquartered Healx is looking to partner with rare disease patient groups to advance treatments toward the clinic. The company’s artificial intelligence-powered drug discovery platform, Healnet, uses both public and proprietary biomedical data to identify and develop repurposed treatments, which are existing drugs that … Continue reading “AI Startup Healx Looks to Find Repurposable Drugs for Rare Diseases”
PhoenixMD Adds Seed Funding to Test Experimental Breast Cancer Drug
Phoenix Molecular Designs, a biotech developing kinase inhibitors to treat cancer, has brought in an undisclosed amount of financing—boosting its total seed funding raised to $12 million. The San Diego-based biotech says the proceeds will help fund the Phase 1/1b clinical trial of its lead candidate, PMD-026, an investigational cancer drug being developed to treat … Continue reading “PhoenixMD Adds Seed Funding to Test Experimental Breast Cancer Drug”
Azitra Names Jeanne Bertonis as Chief Operating Officer
Jeanne Bertonis has joined Azitra as chief operating officer. In this role, she will be responsible for building the clinical operations team as the company preps for multiple clinical trials in 2020, according to a statement from Azitra CEO Richard Andrews. Bertonis was previously CEO of Visgo Therapeutics – which she co-founded – and has … Continue reading “Azitra Names Jeanne Bertonis as Chief Operating Officer”
Former Shire Exec Robertson Joins Yumanity as Chief Medical Officer
Cambridge, MA-based Yumanity Therapeutics has named Brigitte Robertson to the role of chief medical officer. Most recently, she was the therapeutic area head of neuroscience global clinical development at Shire, which was then acquired by Takeda (NYSE: [[ticker:TAK]]). Robertson also held roles at Sunovion Pharmaceuticals in clinical development and experimental medicine, and GlaxoSmithKline (NYSE: [[ticker:GSK]]) … Continue reading “Former Shire Exec Robertson Joins Yumanity as Chief Medical Officer”
Liquid Biopsy Firm Lucence Plans Bay Area Buildout With $20M in Tow
Lucence, a genomic medicine company developing blood-based tests for cancer screening and treatment selection, announced this week the close of a $20 million Series A funding round led by IHH Healthcare. CEO and founder Min-Han Tan (pictured) says the investment will be used to scale the Singapore-based company’s clinical lab operations—notably in the US, with … Continue reading “Liquid Biopsy Firm Lucence Plans Bay Area Buildout With $20M in Tow”
France-Based Tissium Boosts US Work After Closing €38.75M Series B
Tissium is targeting Boston’s biotech scene to advance its platform of proprietary biopolymers after building out its manufacturing capabilities in France. Backed by a €38.75 million ($42.78 million) Series B funding round, the company is moving forward with several development programs examining the polymer’s use in various applications. “Since the inception of the company Boston … Continue reading “France-Based Tissium Boosts US Work After Closing €38.75M Series B”
Reata Rakes In $505M to Advance Development of Two Rare Disease Drugs
Reata Pharmaceuticals on Tuesday closed a stock sale, raising $505.1 million to advance the company’s two lead drug candidates to regulatory review. Reata’s stock price jumped last week after the company announced its investigational drug, bardoxolone methyl (bard), met the main goal of a Phase 3 clinical trial testing it as a treatment for Alport … Continue reading “Reata Rakes In $505M to Advance Development of Two Rare Disease Drugs”
Novo Ventures Commits $25M to Grow Discovery “Greenhouse” in Boston
Novo Ventures has committed up to $25 million (€23 million) over a five-year period to fund seed-stage drug discovery projects at the Broad Institute of MIT and Harvard in a deal which it says will propel it into the Massachusetts biotech community. The new biotech accelerator, dubbed the Novo Broad Greenhouse, will support between five … Continue reading “Novo Ventures Commits $25M to Grow Discovery “Greenhouse” in Boston”
Underdog Launches With $4M to Target “Toxic” Form of Cholesterol
Underdog Pharmaceuticals has launched with nearly $4 million in seed funding to develop treatments for atherosclerosis, a progressive condition in which arteries become clogged with substances such as fats and cholesterol, which restricts blood flow. Based in Mountain View, CA, Underdog is a spinout of the nonprofit SENS Research Foundation (SRF). Matthew O’Connor and Michael … Continue reading “Underdog Launches With $4M to Target “Toxic” Form of Cholesterol”
Startup X-37 Raises $14.5M to Expand on AI-Powered Drug Discovery
Launched just last year, artificial intelligence-powered drug discovery company X-37 now has raised $14.5 million in Series A financing to expand its development programs. Co-founded by Atomwise and a team from Velocity Pharmaceutical Development, the San Francisco, CA-based company uses Atomwise’s AI platform for structure-based drug design to screen chemical compounds against pharmaceutical targets. DCVC … Continue reading “Startup X-37 Raises $14.5M to Expand on AI-Powered Drug Discovery”