Andreessen Horowitz (a16z), a Silicon Valley venture capital firm best known for backing high-flying software startups such as Facebook, Lyft, and Skype, is doubling down on its foray into biotech-related bets. A16z on Tuesday revealed it has raised $750 million for its third Bio Fund. The fund is bigger than its first two combined and … Continue reading “$750M Fund Looks to Software Sector to Drive Future of Biotech”
Author: Sarah de Crescenzo
Passage Bio Plans IPO as Three Gene Therapies Approach the Clinic
A year ago Passage Bio launched with $115.5 million and plans to advance a handful of gene therapies discovered at the University of Pennsylvania. Now the Philadelphia-based biotech is preparing to join the public markets and raise millions more to move its three lead programs into the clinic. Want more cell and gene therapy content? … Continue reading “Passage Bio Plans IPO as Three Gene Therapies Approach the Clinic”
Insmed Drug for Rare Pulmonary Disorder Meets Phase 2 Goals
Rare disease drug developer Insmed on Monday revealed data from a mid-stage trial of its daily pill for adults with non-cystic fibrosis bronchiectasis, a severe chronic pulmonary disorder with no FDA-approved therapies. Patients with chronic inflammatory lung diseases end up with an overabundance of white blood cells called neutrophils in their airways. The Insmed drug, … Continue reading “Insmed Drug for Rare Pulmonary Disorder Meets Phase 2 Goals”
Arcutis Bio Raises $159M in Upsized IPO to Test Skin Disease Drugs
Arcutis Biotherapeutics raised about $159 million from its IPO, offering 1.6 million more shares than anticipated and pricing at the high end of its planned range. The Westlake Village, CA-based biotech sold about 9.4 million of its shares at $17 apiece. Arcutis (NASDAQ: [[ticker:ARQT]]) shares began trading Friday. The stock price closed at $21.80, up … Continue reading “Arcutis Bio Raises $159M in Upsized IPO to Test Skin Disease Drugs”
Moderna Adds Takeda’s Melanie Ivarsson as Chief Development Officer
Moderna (NASDAQ: [[ticker:RNA]]) named Melanie Ivarsson as its chief development officer. Ivarsson was most recently vice president, head of clinical operations at Takeda Pharmaceuticals (NYSE: [[ticker:TAK]]). Her previous experience includes serving as senior director, head of clinical strategy and operations at Pfizer (NYSE: [[ticker:PFE]]), and roles within the early clinical development group at Eli Lilly (NYSE: … Continue reading “Moderna Adds Takeda’s Melanie Ivarsson as Chief Development Officer”
Disc Medicine Adds Longtime Acceleron Pharma Exec as New CEO
Disc Medicine appointed John Quisel as its new CEO. Quisel, most recently chief business officer at Acceleron Pharma (NASDAQ: [[ticker:XLRN]]), will start Feb. 25. Quisel will join Disc Medicine after more than a decade at Acceleron Pharma, where he held a variety of roles since joining the company in 2006. He succeeds Disc co-founder Brian MacDonald, … Continue reading “Disc Medicine Adds Longtime Acceleron Pharma Exec as New CEO”
BIO Report: More Work Needed to Improve Diversity at Biotech Firms
Some companies that belong to the Biotechnology Industry Organization (BIO), a large industry trade group, convene diverse hiring committees, seek out representation among their suppliers and vendors, and are led by executives that talk regularly about the importance of an inclusive workforce. Others have no women or people of color as employees, gather no data … Continue reading “BIO Report: More Work Needed to Improve Diversity at Biotech Firms”
Vizgen Launches With $14M to Market New Subcellular Imaging Technique
Scientists in a Harvard University lab developed an imaging technique that allows researchers to peer deep into tissue samples to learn more about the molecules and cellular organization within. That technology now has the backing of two venture capital firms that have funded a company to commercialize the technology. The Cambridge, MA-based startup, Vizgen, debuted … Continue reading “Vizgen Launches With $14M to Market New Subcellular Imaging Technique”
Annovis Bio Gets $12M in IPO to Target Trio of Neurotoxic Proteins
A Philadelphia-area biotech is developing therapies for neurodegenerative diseases it says have the potential to perform better than others by targeting multiple proteins involved in the brain’s breakdown. Now the company, Berwyn, PA-based Annovis Bio, has raised $12 million in an initial public offering to advance clinical development of its lead therapy in patients with … Continue reading “Annovis Bio Gets $12M in IPO to Target Trio of Neurotoxic Proteins”
Histogen, Timber Pharma Plan Reverse Mergers to Join Public Markets
Two privately held biotechs on Tuesday announced plans for reverse mergers, transactions that provide a faster route to go public than a conventional IPO and also give struggling public companies a chance to recoup some value for their shareholders. San Diego regenerative medicine company Histogen announced an agreement to gain a Nasdaq listing through a … Continue reading “Histogen, Timber Pharma Plan Reverse Mergers to Join Public Markets”
BioIntelliSense Debuts “Sticker” Sensor to Capture Patient Data Remotely
Subtle changes can presage a worsening of a chronic condition, but symptoms may not become apparent to a patient until it’s time to call an ambulance. BioIntelliSense, a Denver-based digital health startup, has developed a wearable sensor meant to monitor patients’ vital signs remotely and provide near real-time data that clinicians can use to identify … Continue reading “BioIntelliSense Debuts “Sticker” Sensor to Capture Patient Data Remotely”
Passage Bio Appoints Deerfield Management’s Bruce Goldsmith as CEO
Passage Bio on Tuesday announced it appointed Bruce Goldsmith, a venture partner at Deerfield Management, as its new CEO. At Deerfield, Goldsmith also served as interim chief executive officer of Civetta Therapeutics. His experience also includes positions at Lycera, Allos Therapeutics, GPC Biotech, and Johnson & Johnson (NYSE: [[ticker:JNJ]]). Goldsmith succeeds Passage co-founder Stephen Squinto, who … Continue reading “Passage Bio Appoints Deerfield Management’s Bruce Goldsmith as CEO”
Flagship Adds Fertility-Focused Ohana Biosciences to Biotech Family
About 7 million couples in the US have difficulty getting or staying pregnant. A new biotech is using insights into the biology of male reproductive cells—the sperm that must meet its female equivalent, an egg cell, for fertilization to occur—to develop products meant to make assisted reproductive technologies such as in vitro fertilization (IVF) more … Continue reading “Flagship Adds Fertility-Focused Ohana Biosciences to Biotech Family”
Life Sciences IPOs Target Collective Raise of More Than $600M This Week
So far this year four privately held companies have made the transition to trading on the public markets. By month’s end, five more are anticipated to join the class of 2020 initial public offerings—and four of those are in life sciences, according to IPO research firm Renaissance Capital. Two are clinical-stage biotechs: Cambridge, MA-based Black … Continue reading “Life Sciences IPOs Target Collective Raise of More Than $600M This Week”
Bio Roundup: Coronavirus Concerns, Sarepta’s CRL, Eye Drug OK’d & More
Company news slowed somewhat this week, perhaps as some took the federal Martin Luther King Jr. Day holiday away from the office and others recovered from back-to-back meetings and late nights at the JP Morgan Healthcare Conference. However, a new coronavirus believed to stem from Wuhan, China, captured the attention of the world healthcare community. … Continue reading “Bio Roundup: Coronavirus Concerns, Sarepta’s CRL, Eye Drug OK’d & More”
Kura Oncology Chief Medical Officer Plans to Step Down Next Month
Kura Oncology (NASDAQ: [[ticker:KURA]]) announced Thursday that its chief medical officer, Antonio Gualberto, would step down on Feb. 7 “to pursue other opportunities.” In a research note, SVB Leerink analyst Jonathan Chang said Gualberto was leaving Kura to take over as head of development at an “large Asian multi-national company,” but didn’t name the company. … Continue reading “Kura Oncology Chief Medical Officer Plans to Step Down Next Month”
Horizon Gets Early FDA OK for First Thyroid Eye Disease Treatment
The first treatment for a rare disease that causes eye bulging and double vision received an FDA nod on Tuesday, weeks ahead of the agency’s March 8 deadline to review the drug. Dublin, Ireland-based Horizon Therapeutics (NASDAQ: [[ticker:HZNP]]) tested the medicine, teprotumumab-trbw (Tepezza), in thyroid eye disease, which occurs when the muscles and fatty tissues … Continue reading “Horizon Gets Early FDA OK for First Thyroid Eye Disease Treatment”
CEOs of Women’s Health Companies Fight to Open Investment Floodgates
Talking about sex with potential investors? For EvoFem Biosciences CEO Saundra Pelletier, it’s the first item on the docket. Her company recently submitted Amphora, a non-hormonal contraceptive gel, to the FDA for review. EvoFem (NASDAQ: [[ticker:EVFM]])—and the rest of the women’s health sector—will know by midyear whether the product will be approved, making the San … Continue reading “CEOs of Women’s Health Companies Fight to Open Investment Floodgates”
After Ending Cancer Drug Program, Halozyme Predicts Profits in 2020
Halozyme suffered a setback in November when its investigational pancreatic drug failed a Phase 3 clinical trial, but its CEO says the biotech’s drug delivery technology will make the company profitable as early as the second quarter of this year. The San Diego-based company’s technology, called Enhanze, allows some drugs traditionally given intravenously over hours … Continue reading “After Ending Cancer Drug Program, Halozyme Predicts Profits in 2020”
Daré Bioscience Inks Deal With Bayer for Non-Hormonal Contraceptive
Daré Bioscience launched in 2015 with the aim of assembling a portfolio of novel women’s health products intended to pique interest from major pharmaceutical companies. Now the San Diego-based company has inked its first deal with Big Pharma, signing an agreement with German biopharma Bayer for its lead asset, a monthly non-hormonal form of birth … Continue reading “Daré Bioscience Inks Deal With Bayer for Non-Hormonal Contraceptive”
Allogene, SpringWorks to Test Drug Combo in Multiple Myeloma Trial
Springworks Therapeutics and Allogene Therapeutics have agreed to collaborate on a clinical trial to test a combination of an investigational cancer drug from each biotech in patients with multiple myeloma. The experimental treatment from Springworks, nirogacestat, is one of the four drug compounds that the company took off the Pfizer (NYSE: [[ticker:PFE]]) shelf when it … Continue reading “Allogene, SpringWorks to Test Drug Combo in Multiple Myeloma Trial”
Neurocrine, in Second Epilepsy Deal, Pairs With Swiss Biotech Idorsia
Neurocrine Biosciences is doubling down on epilepsy, striking its second agreement in as many months with a new deal that grants it the option to license an investigational treatment for a rare form of the disease. The San Diego-based drug developer (NASDAQ: [[ticker:NBIX]]) last month struck a deal with Xenon Pharmaceuticals (NASDAQ: [[ticker:XENE]]) that added … Continue reading “Neurocrine, in Second Epilepsy Deal, Pairs With Swiss Biotech Idorsia”
Biotech Roundup: Drug Pricing Promises, Bone Disease Data, IPO Plans & More
A letter signed by 215 people involved in the biopharma industry, including CEOs and investors, published Wednesday promised to put the “interests of patients first.” Six CEOs, including five who run public companies, co-authored the letter. Signatories agreed to what they dubbed a New Commitment to Patients, a list of “core principals and actions” promising … Continue reading “Biotech Roundup: Drug Pricing Promises, Bone Disease Data, IPO Plans & More”
DTx Pharma Raises $10.6M to Advance New Way to Deliver RNA Drugs
RNA medicines can treat some diseases by hitting targets otherwise considered “undruggable” by small molecules and biologics, but protecting the nucleic acids from degradation and getting the therapies to where they are needed in the body can be difficult. San Diego startup DTx Pharma has raised $10.6 million to advance technology it has developed that … Continue reading “DTx Pharma Raises $10.6M to Advance New Way to Deliver RNA Drugs”
Saniona Taps Former Sobi North America President Rami Levin as New CEO
Saniona, a Danish clinical-stage biotech company focused on rare diseases, named Rami Levin its new CEO. Levin was most recently president of the North America unit of Sobi, a rare disease biopharma headquartered in Sweden. He succeeds Jørgen Drejer, a Saniona founder, who will continue as chief scientific officer. Levin, who will be based in … Continue reading “Saniona Taps Former Sobi North America President Rami Levin as New CEO”
Ionis Adds Former Grail Chief Commercial Officer to Executive Team
Ionis Pharmaceuticals (NASDAQ: [[ticker:IONS]]) appointed Onaiza Cadoret-Manier as its chief corporate development and commercial officer, a newly created position. Cadoret-Manier was most recently chief commercial officer at Grail, a Menlo Park, CA-based startup spun out from Illumina (NASDAQ: [[ticker:ILMN]]) that is working to develop tests to detect cancer at its earliest stages. She was previously … Continue reading “Ionis Adds Former Grail Chief Commercial Officer to Executive Team”
Empirico Raises $17M, Inks 3-Year Antisense Collaboration with Ionis
Empirico, a biotech that has developed tools to analyze genomics data and use those insights to identify potential therapeutic targets, has signed a collaboration deal with antisense drug developer Ionis Pharmaceuticals that includes a $10 million equity investment. The 14-person startup, founded in 2017, has developed technology that it says uses big data sets, human … Continue reading “Empirico Raises $17M, Inks 3-Year Antisense Collaboration with Ionis”
Mirati Adds Execs With Commercial Experience at Spark, Bristol-Myers
Cancer drug developer Mirati Therapeutics is beefing up its leadership team as its lead programs advance through human testing. The San Diego-based company (NASDAQ: [[ticker:MRTX]]) this week added two executives to its C-suite as part of a strategic effort to ready the biotech for its potential transformation into a commercial company. For San Diego, it’s … Continue reading “Mirati Adds Execs With Commercial Experience at Spark, Bristol-Myers”
Celgene-Seeded PharmAkea Sells Last Fibrotic Drug Candidate to Galecto
When a group of scientists from Amira Pharmaceuticals wanted to start a new biotech after the company’s 2011 acquisition by Bristol-Myers Squibb, Celgene provided seed funding. Eventually Celgene kicked in $35 million more for a research collaboration, an equity stake, and an exclusive option to acquire the startup, PharmAkea Therapeutics. But the partnership fizzled, and … Continue reading “Celgene-Seeded PharmAkea Sells Last Fibrotic Drug Candidate to Galecto”
BioIntervene Raises $30M to Move Nerve Pain Drug Into the Clinic
In the past seven years BioIntervene has been working to develop “ultra-selective” compounds to target an adenosine receptor associated with pain relief. Now the San Diego-based biotech has $30 million and a chief scientific officer, Charles Cohen, to guide its lead compound, BIO-205, into human testing for neuropathic pain. The company announced the Series A … Continue reading “BioIntervene Raises $30M to Move Nerve Pain Drug Into the Clinic”
BioIntervene Taps Charles Cohen as Its Chief Scientific Officer
BioIntervene on Monday named Charles Cohen as its chief scientific officer. Cohen was most recently vice president of biology at Xenon Pharmaceuticals (NASDAQ: [[ticker:XENE]]). His experience also includes positions at Vertex Pharmaceuticals (NASDAQ: [[ticker:VRTX]]), Merck (NYSE: [[ticker:MRK]]), and Bayer. San Diego-based BioIntervene, which recently raised $30 million in a Series A financing round led by MPM … Continue reading “BioIntervene Taps Charles Cohen as Its Chief Scientific Officer”
Phathom Pharma Appoints Martin Gilligan as Chief Commercial Officer
Phathom Pharmaceuticals (NASDAQ: [[ticker:PHAT]]) on Monday named Martin Gilligan as its chief commercial officer. Gilligan was most recently a corporate vice president at Celgene, where he led marketing, market access, and business development for the Summit, NJ-based biopharma’s inflammation and immunology unit. Phathom, in Florham Park, NJ, is in late-stage development of vonoprazan—an acid blocker whose … Continue reading “Phathom Pharma Appoints Martin Gilligan as Chief Commercial Officer”
After Antitrust Challenges, Illumina and PacBio Throw in Towel on Merger
DNA sequencing machine maker Illumina will have to find another way to “read” long pieces of genetic material as well as short stretches, the genomic giant’s bailiwick. Its $1.2 billion proposal to acquire long-read capability by buying rival Pacific Biosciences ended Thursday following challenges from antitrust regulators. The deal foundered about 14 months after the … Continue reading “After Antitrust Challenges, Illumina and PacBio Throw in Towel on Merger”
Rexgenero CEO Talks Importance of “Dialogue” in Cell Therapy Conversations
Cell and gene therapies are becoming more mainstream, but an essential aspect of the drug development process is talking with clinicians about how it would fit into their practice, according to Joe Dupere, CEO of UK-based regenerative medicine company Rexgenero. Rexgenero is advancing an experimental cell therapy for critical limb ischemia, a chronic condition that … Continue reading “Rexgenero CEO Talks Importance of “Dialogue” in Cell Therapy Conversations”
Allergan Wins FDA Nod for First Migraine Pill in New Class of Medicines
The FDA on Monday approved a pill from Allergan to treat migraine in adults. The treatment, ubrogepant (Ubrelvy), is part of a new class of migraine medicines designed to block calcitonin gene-related peptide (CGRP), a protein thought to play a role in pain transmission. Ubrogepant is the first CGRP drug in tablet form to get … Continue reading “Allergan Wins FDA Nod for First Migraine Pill in New Class of Medicines”
Roche Puts Up Historic $1.15B for Sarepta Duchenne Gene Therapy Deal
Swiss biopharma Roche is betting more than $1 billion that Sarepta Therapeutics, which recently won FDA approval for its second RNA medicine for Duchenne muscular dystrophy, will get its lead gene therapy treatment across the finish line too. The deal, one of the biggest ever US biopharma licensing agreements, gives Roche the right outside of … Continue reading “Roche Puts Up Historic $1.15B for Sarepta Duchenne Gene Therapy Deal”
Encoded Makes Chief Regulatory, People & Culture Officer Appointments
Encoded Therapeutics added two people to its C-suite this week. The South San Francisco-based company named Nancy Boman as its chief regulatory officer and Monique Bobadilla as its chief people and culture officer. Encoded, which raised $104 million in June, aims to develop gene therapies to treat diseases the technique currently can’t address. Its lead … Continue reading “Encoded Makes Chief Regulatory, People & Culture Officer Appointments”
Bio Roundup: Amarin’s Approval, FTC v. Illumina, a $120M Deal & More
As national politics dominates the news in the final days of the decade, we at Xconomy are wrapping up the year with some big moves by the FDA, including an approval of the first drug OK’d reduce heart risk in patients with high triglycerides who are already taking statins. Holidays don’t provide immunity to bad … Continue reading “Bio Roundup: Amarin’s Approval, FTC v. Illumina, a $120M Deal & More”
Biogen Strikes Alzheimer’s Deal, Paying $45M for Ionis Tau Drug Rights
When it comes to Alzheimer’s disease, Biogen isn’t putting all of its eggs in the same basket. In the latest development of a multi-drug and multi-disease collaboration, the company has licensed an experimental Ionis Pharmaceuticals compound that works in a different way than the therapies currently in its pipeline for neurodegenerative diseases. On Thursday, Ionis … Continue reading “Biogen Strikes Alzheimer’s Deal, Paying $45M for Ionis Tau Drug Rights”
Ring Therapeutics Launches to Expand Gene Therapy Viral Vector Options
Ring Therapeutics, a Flagship Pioneering spinout, launched Thursday with ambitious plans to expand the universe of vectors available for gene therapy delivery. Gene therapy, treatments intended to treat disease by inserting a gene instead of using drugs or surgery, has had a banner year, with the second ever such therapy approved this year in the … Continue reading “Ring Therapeutics Launches to Expand Gene Therapy Viral Vector Options”
FTC Challenges PacBio Acquisition, Says Illumina is a “Monopolist”
About one year ago Illumina agreed to splash out $1.2 billion on Pacific Biosciences, a rival maker of DNA sequencing technology. Now the Federal Trade Commission is looking to block the deal, and says it was meant to steamroll a competitor and maintain Illumina’s “monopolist” position atop the industry. The San Diego-based genomics giant (NASDAQ: … Continue reading “FTC Challenges PacBio Acquisition, Says Illumina is a “Monopolist””
Organovo’s Demise Offers Path for Tarveda to Join the Public Markets
Organovo raised millions of dollars from investors to fuel its goal of developing 3D “bioprinted” human tissues for use in people with end-stage liver disease and other life-threatening illnesses. But the San Diego company fell short of bringing its lead regenerative medicine program into clinical trials, and now it is charting a course as a … Continue reading “Organovo’s Demise Offers Path for Tarveda to Join the Public Markets”
Zentalis Pharma Names Melissa Epperly as Its Chief Financial Officer
Zentalis Pharmaceuticals, which is developing small molecule drugs for cancer, appointed Melissa Epperly as its chief financial officer. Epperly was most recently CFO at clinical-stage gene therapy developer Psioxus Therapeutics; previously she was CFO and head of business development at R-Pharm US, a commercial-stage oncology pharmaceutical company. Her prior experience includes time as a director … Continue reading “Zentalis Pharma Names Melissa Epperly as Its Chief Financial Officer”
Grail Appoints Illumina’s Gautam Kollu as Chief Commercial Officer
Grail, the Illumina (NASDAQ: [[ticker:ILMN]]) spinout that has raised more than $1.5 billion to advance its development of a blood test for early detection of cancer, has appointed Gautam Kollu as its chief commercial officer. Kollu joins the company from its parent firm, where he was vice president of global market development. His prior experience … Continue reading “Grail Appoints Illumina’s Gautam Kollu as Chief Commercial Officer”
Amarin’s Fish-Oil Pill Wins FDA Nod to Cut Heart Attack, Stroke Risk
A prescription pill derived from fish-oil received the regulatory nod Friday to expand its use as a supplementary treatment, alongside statins, to more patients at risk of heart attack or stroke. The FDA approved the Amarin Pharma drug, icosapent ethyl (Vascepa), for use as a secondary treatment for adults who are taking statins and have elevated … Continue reading “Amarin’s Fish-Oil Pill Wins FDA Nod to Cut Heart Attack, Stroke Risk”
In an About-Face, FDA Approves Second Sarepta Muscular Dystrophy Drug
Sarepta Therapeutics received an early holiday gift Thursday—approval of golodirsen (Vyondys 53), its second Duchenne muscular dystrophy treatment, which the FDA rejected in August. The agency had dinged the application over potential side effects, namely a risk of infections from the “ports” used to infuse the drug, and kidney problems observed in animals in which … Continue reading “In an About-Face, FDA Approves Second Sarepta Muscular Dystrophy Drug”
Aspen Neuro Bags $6.5M to Test Parkinson’s Disease Stem Cell Therapy
Nearly nine years ago Jeanne Loring and her colleagues at Scripps Research debuted a test that leveraged advances in genomics and data science to determine, without testing in animals, whether human stem cells were “pluripotent,” or able to become any type of cell in the body. Being able to prove that has become increasingly important … Continue reading “Aspen Neuro Bags $6.5M to Test Parkinson’s Disease Stem Cell Therapy”
Prometheus Bio Taps Thierry Dervieux as Chief Development Officer
Prometheus Biosciences on Tuesday said it has appointed Thierry Dervieux as chief development officer, diagnostics, and medical laboratory director. The San Diego-based biotech, created this summer through the acquisition of Prometheus Laboratories by Precision IBD, is working to create new drugs and companion diagnostics for people with gastroenterology disorders and autoimmune diseases. Dervieux was most … Continue reading “Prometheus Bio Taps Thierry Dervieux as Chief Development Officer”
Locana Names Casebia Therapeutics’s Jim Burns as New CEO
Locana said Tuesday that it has appointed Jim Burns, most recently CEO of Casebia Therapeutics, as its new chief executive. Burns ran Casebia, a joint venture between CRISPR Therapeutics (NASDAQ: [[ticker:CRSP]]) and Bayer, for three years. Previously he spent three decades at Sanofi Genzyme. He succeeds Jeffrey Ostrove, who was named to the top role … Continue reading “Locana Names Casebia Therapeutics’s Jim Burns as New CEO”
Flagship’s Cellarity Aims to Advance Cell Behavior-Based Therapeutics
The latest startup to emerge from Flagship Pioneering aims to change drug discovery by starting the process with a clear understanding of cell behavior. Cellarity—like many other startups looking to revamp the slow, costly process of developing new medicines—is using machine-learning tools to do so, leveraging computational advances to advance a new way of thinking … Continue reading “Flagship’s Cellarity Aims to Advance Cell Behavior-Based Therapeutics”