Stephen Gatto focused much his career during the previous decade on the biofuels industry. But today, he’s betting on specialty chemicals as the highest-growth market for his Quincy, MA-based company’s fermentation technology. Myriant Technologies is aiming to raise $60 million in a round of equity financing in the coming months, Gatto told Xconomy. The funding … Continue reading “Myriant Technologies Looks Beyond Biofuels at Growing Chemicals Business”
Author: Ryan McBride
Ryan is an award-winning business journalist who contributes to our life sciences and technology coverage. He was previously a staff writer for Mass High Tech, a Boston business and technology newspaper, where he and his colleagues won a national business journalism award from the Society of American Business Editors and Writers in 2008. In recent years, he has made regular TV appearances on New England Cable News.
Prior to MHT, Ryan covered the life sciences, technology, and energy sectors for Providence Business News. He graduated with honors from the University of Rhode Island in 2001 with a bachelor’s degree in communications. When he’s not chasing down news, Ryan enjoys mountain biking and skiing in his home state of Vermont.
Wilson Taps New CEO, Changes Name
Wilson Solarpower, a Woburn, MA-based developer of concentrated solar power systems, has named Doug Zingale as it new chief executive, according to the company. Zingale, an attorney by training who also went to MIT, did a stint at Microsoft as a general manager from January 2008 to September 2009, according to his LinkedIn profile. Wilson’s … Continue reading “Wilson Taps New CEO, Changes Name”
Glaxo’s Tempero Pharma Advances on Hot Niche of Immunology
Hold onto your lab coats and safety goggles. Big drug companies and venture firms are engaging in a scientific land grab in the Boston area and beyond to gain rights to new discoveries about what are known as adaptive immune responses. They’re jockeying for the best technology and help from top brains at Harvard, MIT, … Continue reading “Glaxo’s Tempero Pharma Advances on Hot Niche of Immunology”
Concert Pharma Riding Potential $1B Glaxo Deal, Looks Ahead to Human Data on HIV Drug
Concert Pharmaceuticals climbed the charts of the Boston area’s hottest biotechs last year when it revealed an incentive-laden deal with the drug giant GlaxoSmithKline potentially worth more than $1 billion. Roger Tung, the CEO of Concert, met with me last week at the biotech startup’s Lexington, MA, headquarters and talked about the work his firm … Continue reading “Concert Pharma Riding Potential $1B Glaxo Deal, Looks Ahead to Human Data on HIV Drug”
Metamark Genetics Raises $22M to Find Genetic Signs of Tumor Progression
Metamark Genetics has new funding to find which tumors are deadly and poised to spread out of control. The startup, which is commercializing technology discovered at Harvard Medical School, said today it has closed a $22 million Series B round of financing. Its lead investor in the round has agreed to chip in an additional … Continue reading “Metamark Genetics Raises $22M to Find Genetic Signs of Tumor Progression”
Franco Cerrina, NimbleGen Founder, Dies
Franco Cerrina, a Boston University engineering professor, was found dead in a lab at BU’s Photonics Center on Monday morning, the university reported yesterday. He was 62. Colin Riley, a BU spokesman, said in an e-mail this morning that the cause of death is not yet known. Police are not treating Cerrina’s death as a … Continue reading “Franco Cerrina, NimbleGen Founder, Dies”
Boston Millennia Finds $24.3M for Fund
Boston Millennia Partners, a Boston-based venture firm that invests in healthcare and life sciences companies, has raised $24.3 million for its Boston Millennia Partners III LP fund, according to an SEC filing. The filing says that the total offering amount for the fund is $300 million. There are 18 investors in the fund, according to … Continue reading “Boston Millennia Finds $24.3M for Fund”
After the Meltdown: Synta Pharma CEO Trumpets New Top Cancer Drug
Synta Pharmaceuticals has been climbing back from one of the Boston area’s highest-profile clinical trial failures of 2009. And a big part of the Lexington, MA-based company’s recovery has been to learn from the failure and advance other drug candidates in its pipeline. After Synta (NASDAQ:[[ticker:SNTA]]) halted its pivotal trial of the drug elesclomol for … Continue reading “After the Meltdown: Synta Pharma CEO Trumpets New Top Cancer Drug”
Novartis Test Drives Biotech Startup Adimab’s Drug Discovery Engine
Lebanon, NH-based biotech startup Adimab has grown the ranks of its Big Pharma collaborators, which are coveted for their deep pockets and other resources they bring to smaller firms. Swiss drug giant Novartis has inked a research agreement with Adimab to access the startup’s synthetic immune system of sorts that churns out potential antibody drugs. … Continue reading “Novartis Test Drives Biotech Startup Adimab’s Drug Discovery Engine”
Sanofi-Aventis to Expand in Cambridge
Sanofi-Aventis, the French drug giant, plans to expand its operations in Cambridge, MA, to house a new cancer research division, the Boston Globe reported today. The company is seeking a new lease in Cambridgeport and plans to add 300 jobs. The firm, which has research facilities in Kendall Square, says it plans to invest $65 … Continue reading “Sanofi-Aventis to Expand in Cambridge”
Alnara Pharma Used “Flexible” Strategy on Road to Eli Lilly Deal
Cambridge, MA-based Alnara Pharmaceuticals made headlines before Fourth of July weekend when the drug giant Eli Lilly agreed to buy the startup and its late-stage drug for pancreatic insufficiency for an undisclosed sum. But what might have been lost in all the hoopla about the deal was that there are only 21 full-time employees at … Continue reading “Alnara Pharma Used “Flexible” Strategy on Road to Eli Lilly Deal”
$4.5M for Excelimmune
Excelimmune, a Woburn, MA-based developer of drugs made with human recombinant polyclonal antibodies, has raised $4.5 million of a planned $9 million round of equity financing, according to an SEC filing. The document did not specify the investors in the deal. The company, founded in 2006, took in $1 million in Series B funding in … Continue reading “$4.5M for Excelimmune”
Bio2 Technologies Grabs $1.1M
Bio2 Technologies, a Woburn, MA-based developer of tissue engineering scaffolds for the orthopedic market, has raised $1.1 million of a planned $2 million round of equity financing, according to an SEC filing. The investors in the round were not specified in the filing. The company says its “cross linked microstructure” technology was licensed from Woburn-based … Continue reading “Bio2 Technologies Grabs $1.1M”
On-Q-ity, Led by Former Genzyme Exec, Takes on “Diagnostic Black Hole” in Cancer
Cancer survivors could have tumor cells circulating in their blood stream and not know it, because imaging exams don’t detect these indicators of potential malignancies, says Mara Aspinall, the chief executive of On-Q-ity. On-Q-ity, a diagnostics startup based in Waltham, MA, wants to find these circulating tumor cells in patients’ blood and use biomarkers to … Continue reading “On-Q-ity, Led by Former Genzyme Exec, Takes on “Diagnostic Black Hole” in Cancer”
Fetch Finds $934K Funding
[Corrected, 7/5/10 at 4:55 pm Eastern time] Fetch Industries, the Portland, ME-based operator of a website called FetchDog.com for dog owners, has raised $933,900 of a planned $1.5 million round of equity financing, according to an SEC filing. David Shaw, a company co-founder, did not immediately reply to an e-mail seeking comment on the deal … Continue reading “Fetch Finds $934K Funding”
Drug Giant Eli Lilly Buys Alnara Pharma To Get Cystic Fibrosis Drug
[Updated: 07/02/10 at 10:14 am Eastern time] It appears to be a rare case of fast money made in a biotech startup. The drug giant Eli Lilly (NYSE:[[ticker:LLY]]) has bought Cambridge, MA-based Alnara Pharmaceuticals and its lead drug for cystic fibrosis patients just two years after the biotech startup incorporated. The companies revealed the deal … Continue reading “Drug Giant Eli Lilly Buys Alnara Pharma To Get Cystic Fibrosis Drug”
New CEO George Scangos Says Biogen Idec’s R&D Has to Improve
George Scangos, the newly appointed chief executive of Biogen Idec (NASDAQ:[[ticker:BIIB]]), is calling for the biotech powerhouse to improve its research and development productivity. Which could mean that some projects get cut, Scangos said in a call with analysts yesterday. The news broke on Wednesday that Biogen selected Scangos for the big job. Scangos, 62, … Continue reading “New CEO George Scangos Says Biogen Idec’s R&D Has to Improve”
Reports: Biogen Picks Exelixis Chief George Scangos as New CEO
Biogen Idec won’t be the biggest biotech without a CEO for long. Bloomberg News reported late this morning that the Cambridge, MA-based company (NASDAQ: [[ticker:BIIB]]) is expected to announce its appointment of George Scangos as its new chief executive as soon as today. Scangos, a microbiologist by training, has been CEO of the South San … Continue reading “Reports: Biogen Picks Exelixis Chief George Scangos as New CEO”
$5M Debt Deal for Dicerna Pharma
Dicerna Pharmaceuticals, a Watertown, MA-based developer of RNA-interference drugs, has raised $5 million in a debt and options financing, according to an SEC filing. Doug Fambrough, who resigned from being a general partner at Boston’s Oxford Bioscience Partners last month to become CEO of Dicerna, told Xconomy at the time that he planned to raise … Continue reading “$5M Debt Deal for Dicerna Pharma”
Keas, Founded by Former Google and Bit9 Execs, Tries to Make Online Care Plans Pay
Keas has an online platform that gives patients interactive software for improving their health. But the San Francisco-based startup has had to change its strategy to find customers to pay for its technology. In October 2009, Keas made its first big public debut, with articles in the New York Times and on a Wall Street … Continue reading “Keas, Founded by Former Google and Bit9 Execs, Tries to Make Online Care Plans Pay”
SV Life Sciences Closes $523M Fund
SV Life Sciences, a Boston-based venture firm focused on healthcare investments, said today it has closed its latest Fund V at $523 million. VentureWire reported today this fund is the second-largest healthcare fund raised in 2010, after the $550 million fund that OrbiMed Advisors closed early this year. SV Life Sciences says that it plans … Continue reading “SV Life Sciences Closes $523M Fund”
Former J&J Group Chairman’s Firm Backs BIND Biosciences in $12.4M Round
BIND Biosciences has a knack for selling high-profile investors on its idea of targeting cancer cells with nanoparticle drugs. The Cambridge, MA-based startup has added to its list of marquee backers with the closing of a $12.4 million Series C round of funding, according to the company. Endeavour Vision, the Swiss venture firm, is the … Continue reading “Former J&J Group Chairman’s Firm Backs BIND Biosciences in $12.4M Round”
MIT Spinout Lantos Lands $1.5M
Lantos Technologies, an MIT spinout focused on imaging technology for hearing and audio applications, plans to announce a $1.5 million round of financing tomorrow, according to a story in The New York Times. The Cambridge, MA-based startup, founded in 2009, is developing technology to provide 3D images of the ear canal, according to its website. … Continue reading “MIT Spinout Lantos Lands $1.5M”
Tesaro: Former MedImmune CEO’s Firm Writes Check, Cancer Drug Vets Build Pipeline
Tumors are kicking our butt in the war on cancer. What’s more, big drugmakers are cutting their budgets at the expense of some cancer treatments under development. But now there’s Tesaro, a drug development outfit that formed this spring to buy some of those promising therapies for cancer in the early stages of development and … Continue reading “Tesaro: Former MedImmune CEO’s Firm Writes Check, Cancer Drug Vets Build Pipeline”
Report: John Glaser Leaving Partners Healthcare for Siemens
[Updated—6/25/10, 4 pm Eastern time] This is sort of a coincidence. Partners HealthCare chief information officer John Glaser, who three days ago was featured on this site, is resigning from his long-time post to take over as CEO of the hospital software division of the Germany-based conglomerate Siemens, according to the HIStalk blog. (Glaser has … Continue reading “Report: John Glaser Leaving Partners Healthcare for Siemens”
Agios Adds Alnylam Chief to Board
The Cambridge, MA-based cancer drug developer Agios Pharmaceuticals said today it’s tapped John Maraganore, the CEO of Alnylam Pharmaceuticals, to join its board of directors. Maraganore has helped build Cambridge, MA-based Alnylam (NASDAQ:[[ticker:ALNY]]) into a leading developer of experimental gene-silencing drugs, or RNA-interference therapies. Alnylam’s major corporate partners include Novartis, Roche, and Takeda Pharmaceutical, among … Continue reading “Agios Adds Alnylam Chief to Board”
SiOnyx Secures $6.3M
SiOnyx, a Beverly, MA-based developer of “black silicon” for imaging systems, has raised $6.3 million of a planned $12 million round of equity financing, according to an SEC filing. The Harvard University spin-out previously raised $11 million in a venture round from Harris & Harris, Polaris Venture Partners, and RedShift Ventures, in 2007. In October … Continue reading “SiOnyx Secures $6.3M”
Febit Cuts 60 Percent of Staff
Febit, a provider of life sciences research products and services, has cut 60 percent of its work force at its headquarters in Heidelberg, Germany, and U.S. office in Lexington, MA, according to a press release. The cuts come as result of the company’s shift away from DNA sequencing services and increased focus on providing tests … Continue reading “Febit Cuts 60 Percent of Staff”
John Glaser, Boston’s Top Hospital Geek, Talks About Obama’s Health IT Plan and Getting Booted from Catholic School
John Glaser, chief information officer of Partners HealthCare, sits atop one of the largest health IT organizations in New England. Yet beneath his corporate shell lives a scorching wit and perhaps a somewhat reformed hell-raiser. He was kicked out of his Jesuit high school in the Bay Area during his junior year for his part … Continue reading “John Glaser, Boston’s Top Hospital Geek, Talks About Obama’s Health IT Plan and Getting Booted from Catholic School”
Daktari Diagnostics, Backed by Gates Foundation, Raises Funds for HIV Test Study
Daktari Diagnostics is finding more support from both nonprofit and for-profit investors to make monitoring the health of HIV patients easy and cheap. The Cambridge, MA-based startup has added $820,000 to its Series A round this month as it prepares to begin its first clinical trials this summer with its inexpensive technology for measuring an … Continue reading “Daktari Diagnostics, Backed by Gates Foundation, Raises Funds for HIV Test Study”
Boston Biomedical Gets $2M
Boston Biomedical, a Norwood, MA-based biotech startup focused on cancer drugs, has raised $2 million in equity financing, according to an SEC filing. Li Chiang, the CEO and founder of Boston Biomedical, was not immediately available for comment this afternoon. It’s unclear who invested in the round. The company in April issued a press release … Continue reading “Boston Biomedical Gets $2M”
Genzyme Annual Meeting Remarkably Mundane, Despite Rocky Year
Cambridge, MA-based Genzyme’s annual meeting was over in about an hour, and although the company took some hard questions from a shareholder about an internal investigation into insider trading and other matters, it appears that chairman and CEO Henri Termeer and the rest of the company’s directors were easily re-elected to serve on the board … Continue reading “Genzyme Annual Meeting Remarkably Mundane, Despite Rocky Year”
Predictive Biosciences Pockets $25M Round, Launching First Bladder Cancer Tests
Predictive Biosciences has found a key piece of the puzzle to commercialize its lab tests for bladder cancer. The Lexington, MA-based company has raised $25 million in a Series C round of funding, giving the firm cash to start selling its bladder cancer test and continue research and development of its diagnostics technology, CEO Peter … Continue reading “Predictive Biosciences Pockets $25M Round, Launching First Bladder Cancer Tests”
FoldRx Pharma Finds $29M, Plans to Seek Approval of First Drug in 2010
FoldRx Pharmaceuticals has rallied new and previous investors to raise $29 million in a round of bridge financing, the company reports today. The Cambridge, MA-based biotech firm’s new round included new investors Novo Ventures and Morgenthaler Ventures. Existing investors participating in the round included Alta Partners, Fidelity Biosciences, HealthCare Ventures, Novartis Venture Funds, and TPG … Continue reading “FoldRx Pharma Finds $29M, Plans to Seek Approval of First Drug in 2010”
Genzyme Borrows $1B for Stock Buyback
Genzyme is raising cash to buy shares of its own stock, in a move that will mean taking on debt to gain more control of its shares. The Cambridge, MA-based biotech powerhouse (NASDAQ:[[ticker:GENZ]]) reports today that it will sell $1 billion in corporate debt to complete the first part of a $2 billion share buyback … Continue reading “Genzyme Borrows $1B for Stock Buyback”
Former MIT Architecture Dean Bill Mitchell Dies at 65, Cemented Legacy with Campus Development
(Updated—6/15/10 at 8:35 am Eastern time) Bill Mitchell, an academic expert in urban design who helped oversee the $1 billion development project on MIT’s main campus in Kendall Square, died on June 11 after a long bout with cancer, according to MIT News. He was 65. Mitchell, who joined the MIT faculty in 1992, was … Continue reading “Former MIT Architecture Dean Bill Mitchell Dies at 65, Cemented Legacy with Campus Development”
Clinical Data Closes $32M Offering
Clinical Data (NASDAQ:[[ticker:CLDA]]), the Newton, MA-based drug developer, reports today that it has closed on the sale of 2.24 million shares of common stock. The stock offering brought in $32 million, of which the company plans to clear $30 million after expenses. The company is pursuing approval of its first drug, vilazodone, for treating depression. … Continue reading “Clinical Data Closes $32M Offering”
Polaris Venture Partners Captures $233M of $400M Fund
Polaris Venture Partners, a $3 billion-plus venture firm, has found more capital to back technology and life sciences firms. The Waltham, MA-based venture firm has closed on $233.8 million of a planned $400 million for its Polaris Venture Partners VI LP fund, according to an SEC filing. When people talk about the leading venture funds, … Continue reading “Polaris Venture Partners Captures $233M of $400M Fund”
BioScale Grabs $25M Round
BioScale, a Cambridge, MA-based maker of life sciences research and diagnostics tools that analyze proteins, reports today it has nailed down a $25 million round of financing. China’s Morningside Venture led the new round, which included investments from the company’s previous backers New Science Ventures and WFD Ventures, both of which are located in New … Continue reading “BioScale Grabs $25M Round”
XSITE’s Mobile Health Panel Rallies Heavyweights in Wireless and Healthcare
For entrepreneurs, launching health IT startups to commercialize mobile or wireless technologies can be daunting. While there are many opportunities to create companies around mobile innovations in healthcare, there aren’t really many successful business models to follow. Sometimes it takes lots of smart people from multiple disciplines to rally around an idea to transform it … Continue reading “XSITE’s Mobile Health Panel Rallies Heavyweights in Wireless and Healthcare”
Healthrageous Snags $6M to Combat Unhealthy Behaviors
We eat ice cream before bedtime. Sleep in rather than rising early to jog. And forget to take our medicine. Those are three of many unhealthy behaviors that cause millions of Americans to become obese, diabetic, and plain sick. Enter Healthrageous, which says it has scooped up $6 million in a Series A venture round … Continue reading “Healthrageous Snags $6M to Combat Unhealthy Behaviors”
Genzyme Cuts Deal With Carl Icahn on Eve of Shareholder Vote
Genzyme has forged a peace treaty with the billionaire shareholder Carl Icahn, after months of debate about the future of the embattled company. Cambridge, MA-based Genzyme (NASDAQ:[[ticker:GENZ]]) has agreed to appoint two of Icahn’s associates to its board in return for Icahn’s support for Genzyme’s nominees, the company reports this morning. Icahn, who controlled 4.9 … Continue reading “Genzyme Cuts Deal With Carl Icahn on Eve of Shareholder Vote”
Qteros Finds Ways Around Funding Pitfalls for Biofuel Startups
If only funding for biofuel startups were as omnipresent as spilt oil in the Gulf. That’s not the case, of course, as biofuel firms have struggled to find cash. Yet Qteros, a Marlborough, MA-based developer of cellulosic ethanol, has a plan to remove some of the typical financial aches from its business. Qteros, which has … Continue reading “Qteros Finds Ways Around Funding Pitfalls for Biofuel Startups”
Syndax Pharma Seeks to Reprogram Tumor Cells to Treat Breast Cancer
Women lose a valuable weapon against their breast tumors when the potency of hormone therapy fades. But what if there was a way to “reprogram” breast tumor cells to be receptive to hormone therapy? Waltham, MA-based Syndax Pharmaceuticals might have such a way. Syndax has shown in a 26-patient clinical trial that its drug, entinostat, … Continue reading “Syndax Pharma Seeks to Reprogram Tumor Cells to Treat Breast Cancer”
Biogen’s CEO Retires Tomorrow, COO to Follow
Biogen Idec will officially be CEO-less starting tomorrow. James Mullen, Biogen’s chief executive, retires on June 8 after a decade on the job and the Cambridge, MA-based company hasn’t named his successor. The company (NASDAQ:[[ticker:BIIB]]), which also has significant operations in San Diego, said this afternoon that its in the final stages of selecting the … Continue reading “Biogen’s CEO Retires Tomorrow, COO to Follow”
Genzyme Taps Amgen Vet for Board
Cambridge, MA-based Genzyme (NASDAQ:[[ticker:GENZ]]), the biotech powerhouse besieged by manufacturing problems, says its board has nominated former Amgen executive Dennis Fenton to its board of directors. Fenton, 58, developed significant biotech drug manufacturing expertise during his 25-year tenure at Thousand Oaks, CA-based biotech giant Amgen (NASDAQ:[[ticker:AMGN]]), according to Genzyme. He was executive vice president of … Continue reading “Genzyme Taps Amgen Vet for Board”
Hacker with Former Slashdot Ties and Tech Entrepreneur Tackle Home Health Hurdles With Web-Based Eldersync
David Bernick saw his mom’s struggles in coordinating care for his elderly grandmother. His mom relied on spreadsheets and Post-It notes to organize his grandmother’s visits with doctors, home health workers, and physical therapists. “This is a lot of stuff to keep track of,” Bernick says. “This is a real problem and it’s only going … Continue reading “Hacker with Former Slashdot Ties and Tech Entrepreneur Tackle Home Health Hurdles With Web-Based Eldersync”
MoMelan, New Rox Anderson Startup, Gets Funds for Device Aimed at Skin Disorders
Skin disorders attack one of the most visible signs of our health. Take vitiligo, which causes skin to lose its color and form irregular white spots all over the body. MoMelan Technologies, a secretive startup in Cambridge, MA, is fighting back against such conditions with a device that could literally expand the impact of skin … Continue reading “MoMelan, New Rox Anderson Startup, Gets Funds for Device Aimed at Skin Disorders”
Flagship Targets $300M New Fund
Cambridge, MA-based Flagship Ventures plans to raise $300 million for its next fund, VentureWire reported today. The Massachusetts Pension Reserves Investment Management Board, a previous supporter of Flagship’s venture funds, has committed $20 million toward the new batch of capital the firm hopes to raise, a pension official told VentureWire. Flagship, which focuses on investments … Continue reading “Flagship Targets $300M New Fund”
Glaxo’s SR One Injects Pharma Bucks into $22M Round for Constellation Pharma
Scientists have been buzzing for years now about new drugs that can turn DNA on or off in ways that affect many diseases. Now more big pharmaceutical dollars are flowing to support this idea at a Cambridge, MA-based biotech that specializes in making drugs based this field of genetics research. SR One, the venture capital … Continue reading “Glaxo’s SR One Injects Pharma Bucks into $22M Round for Constellation Pharma”