SQZ Biotechnologies, which already has an alliance with Roche focused on developing new cancer cell therapies, is now looking to sell shares to the public to finance its research of potential new treatments for both cancer and infectious disease. In paperwork filed with securities regulators late last week, SQZ set a preliminary $75 million goal … Continue reading “SQZ Biotech Lines Up an IPO on the NYSE to Fund Cell Therapy R&D”
Category: San Francisco
Bio Roundup: CRISPR Kudos, Bristol Myers’s Buy, RNAi Alliance & More
It’s October: a time of days growing shorter, leaves changing color, and phone calls in the wee hours that rouse scientists from slumber notifying them they’ve won the highest honor in their fields. This week, the 2020 Nobel Prize in physiology or medicine was awarded to Harvey Alter, Michael Alton, and Charles Rice, whose research … Continue reading “Bio Roundup: CRISPR Kudos, Bristol Myers’s Buy, RNAi Alliance & More”
In RNAi Move, Takeda Fronts $300M to Team Up on Arrowhead Liver Drug
Arrowhead Pharmaceuticals’ gene silencing treatment for a rare liver disease will move through the regulatory process and potential commercialization with the muscle of Takeda Pharmaceutical behind it. Takeda (NYSE: [[ticker:TAK]]) has agreed to pay $300 million up front in a partnership on Arrowhead (NASDAQ: [[ticker:ARWR]]) drug ARO-AAT as a treatment for alpha-1 antitrypsin-associated liver disease. … Continue reading “In RNAi Move, Takeda Fronts $300M to Team Up on Arrowhead Liver Drug”
BIO Launches ‘Biotech Votes’ Campaign to Encourage Registration and Informed Voting
Science is the way out of this pandemic—and scientific breakthroughs are on the ballot on November 3. To help you get ready for Election Day, BIO’s initiative Biotech Votes has resources to help you get registered and get informed. First, make sure you’re registered to vote. Check out this handy form to verify your voter … Continue reading “BIO Launches ‘Biotech Votes’ Campaign to Encourage Registration and Informed Voting”
Scribe Therapeutics Sets Out to Write CRISPR Gene Editing’s Next Chapter
The first generation of CRISPR-based therapies showed how the technology can edit DNA, making genetic fixes to unwanted mutations. But those treatments use the CRISPR system as scientists found it in nature, which means it still has limitations when applied to humans, says Benjamin Oakes, CEO of Scribe Therapeutics. Scribe aims to develop gene-editing therapies … Continue reading “Scribe Therapeutics Sets Out to Write CRISPR Gene Editing’s Next Chapter”
Federation Bio Bags $50M to Engineer New Approach to Microbiome Drugs
Scientists at microbiome therapy developers often talk about the importance of community, how the bugs in our gut act in concert in addition to their individual roles. That’s important for microbiome health and for microbe-based therapies, says Emily Drabant Conley, CEO of startup Federation Bio. Conley’s company is developing therapies that build on the understanding of … Continue reading “Federation Bio Bags $50M to Engineer New Approach to Microbiome Drugs”
Bristol Myers to Buy MyoKardia, FDA-Ready Heart Disease Drug for $13.1B
Bristol Myers Squibb is bolstering its cardiovascular drug lineup with a $13.1 billion deal to acquire MyoKardia, a company whose experimental therapy for a rare type of heart disease is on track for an FDA submission and is projected to become a blockbuster seller, if approved. According to financial terms announced Monday, Bristol (NYSE: [[ticker:BMY]]) … Continue reading “Bristol Myers to Buy MyoKardia, FDA-Ready Heart Disease Drug for $13.1B”
Bio Roundup: MESO’s Miss, Pfizer’s Cancer Bet, Vaccine Promise & More
Amid the bombast of Tuesday’s presidential debate, viewers caught some discussion about the response to the coronavirus pandemic and efforts to develop a COVID-19 vaccine. In the crosstalk, the president made an unsupported claim that we are weeks away from having vaccines. It’s true that some pharmaceutical companies are already manufacturing their COVID-19 vaccine candidates … Continue reading “Bio Roundup: MESO’s Miss, Pfizer’s Cancer Bet, Vaccine Promise & More”
Pfizer Pumps $200M Into CStone for Rights to PD-L1 Cancer Drug in China
CStone Pharmaceuticals has touted its experimental drug sugemalimab as potentially the best in its class of cancer immunotherapies. Pfizer is placing a bet on that promise by making a $200 million equity investment in CStone for rights to that drug in China. According to deal terms announced late Tuesday, Pfizer (NYSE: [[ticker:PFE]]) is purchasing nearly … Continue reading “Pfizer Pumps $200M Into CStone for Rights to PD-L1 Cancer Drug in China”
With Phase 2 Data in Hand, Ovid Eyes Multiple Pivotal Trials for Epilepsy Drug
Ovid Therapeutics and Takeda Pharmaceutical joined forces three years ago to develop a small molecule into a potential epilepsy drug. That research is starting to pay off as the companies now look ahead to pivotal studies testing that compound in several inherited forms of the disorder. On Wednesday, New York-based Ovid (NASDAQ: [[ticker:OVID]]) reported Phase … Continue reading “With Phase 2 Data in Hand, Ovid Eyes Multiple Pivotal Trials for Epilepsy Drug”
Praxis Precision Medicines Leads Way as Three More Biotechs Prep IPOs
Praxis Precision Medicines kept mostly quiet about its research on central nervous system disorder (CNS) drugs until May, when it emerged from stealth and revealed $100 million in cumulative financing. Now the company is aiming to raise about that amount in an IPO that will fund clinical development of its drug pipeline. Cambridge, MA-based Praxis … Continue reading “Praxis Precision Medicines Leads Way as Three More Biotechs Prep IPOs”
Galecto Picks Up $64M as Plans for Fibrosis Clinical Trials Move Forward
Had things turned out differently, scientists at Galecto might be watching their idiopathic pulmonary fibrosis drug candidate develop in the hands of a big pharmaceutical company. But Bristol Myers Squibb passed on its option to acquire Galecto leaving the biotech to forge ahead on its own. Now the company has $64 million to advance clinical … Continue reading “Galecto Picks Up $64M as Plans for Fibrosis Clinical Trials Move Forward”
Bio Roundup: Grail Acquisition, Libra’s Launch, Tau Trial Results & More
In biotech, you can go home again. Four years ago, Illumina spun out cancer diagnostics startup Grail. This week, the gene sequencing giant announced it is acquiring Grail in an $8 billion cash and stock deal. Grail set out with the goal of developing a diagnostic test that detects cancer from the genetic snippets tumors … Continue reading “Bio Roundup: Grail Acquisition, Libra’s Launch, Tau Trial Results & More”
Monte Rosa Raises $96M for “Glue-Based” Protein Degrading Drugs
Many drugs work by binding to a protein and blocking it. Technology for eliminating disease-causing proteins altogether remains experimental, but this approach has gained ground in the past year with hundreds of millions of dollars raised and compounds advanced into clinical testing. Monte Rosa is one of the newer companies in this “protein degradation” space … Continue reading “Monte Rosa Raises $96M for “Glue-Based” Protein Degrading Drugs”
Xconomy Awards On-Demand ‘Meet the Finalists’ Webcast Series Continues This Week
The 2020 National Xconomy Awards complimentary two-week, 11-part, on-demand Meet the Finalists daily webcast series continues this Tuesday and Wednesday at 11 a.m. ET. Registration is complimentary and includes access to a networking app with already more than 600 life science contacts. The daily series leads up to the Thursday, Sept. 24 free online National Xconomy Awards … Continue reading “Xconomy Awards On-Demand ‘Meet the Finalists’ Webcast Series Continues This Week”
Illumina to Acquire Cancer Diagnostics Developer Grail in $8B Deal
[Updated, 3:45 pm ET.] Grail is set to be acquired for $8 billion by Illumina, the gene sequencing giant that formed the cancer diagnostics developer and spun it out as a separate company four years ago. The announcement comes less than two weeks after Menlo Park, CA-based Grail revealed its plans for an IPO to … Continue reading “Illumina to Acquire Cancer Diagnostics Developer Grail in $8B Deal”
Bio Roundup: SeaGen Scores, Dyne’s Debut, Microbiome Moves & More
Gilead Sciences CEO Daniel O’Day has spoken openly about acquisitions as a way to build up the company’s drug pipeline. This week, it made its biggest buy yet. The $21 billion Immunomedics acquisition brings to Gilead a cancer drug that many analysts project will become a blockbuster seller. Some of those analysts think Gilead might … Continue reading “Bio Roundup: SeaGen Scores, Dyne’s Debut, Microbiome Moves & More”
Moderna CMO Talks COVID-19 Vaccine at the Xcelerate Keynote Series
The Xcelerate Keynote Series has added Moderna CMO Tal Zaks to the expert lineup of speakers set to present next Monday, Sept. 21. As you likely know, Moderna is one of the front-runners in the COVID-19 vaccine race, and we look forward to adding his insight to a packed agenda focused on innovative solutions during … Continue reading “Moderna CMO Talks COVID-19 Vaccine at the Xcelerate Keynote Series”
Neogene Therapeutics Grabs $110M to Tackle Solid Tumors With Cell Therapy
Cell therapy offers another option for addressing the most difficult blood cancer cases, but such treatments, which are engineered from a patient’s own immune cells, don’t yet work on solid tumors. Neogene Therapeutics is developing technology with the potential to bring cell therapies to solid tumors and it now has $110 million to advance its … Continue reading “Neogene Therapeutics Grabs $110M to Tackle Solid Tumors With Cell Therapy”
Unity Bio Restructuring Cuts 30% of Staff, Keeps Focus on Eye Drug
Unity Biotechnology is cutting nearly one third of its staff, a move that comes a month after the biotech’s lead drug candidate failed a mid-stage study in osteoarthritis. South San Francisco-based Unity (NASDAQ: [[ticker:UBX]]) says that the corporate restructuring announced Tuesday should make the cash that it has left last through mid-2022, when data are … Continue reading “Unity Bio Restructuring Cuts 30% of Staff, Keeps Focus on Eye Drug”
Gilead Adds “Cornerstone” Cancer Drug in $21B Immunomedics Buyout
Gilead Sciences is acquiring Immunomedics in a $21 billion deal, the latest in a string of transactions the company has made to bolster its cancer drug portfolio. The acquisition announced Sunday comes five months after Morris Plains, NJ-based Immunomedics won FDA approval for cancer drug sacitizumab govitecan (Trodelvy). The regulatory decision covers triple negative breast … Continue reading “Gilead Adds “Cornerstone” Cancer Drug in $21B Immunomedics Buyout”
Join Xconomy Next Week at the Virtual Xcelerate Keynote Series at Biotech Week Boston
Presented by Xconomy, the online Xcelerate Keynote Series at Biotech Week Boston on Monday, Sept. 21 places a spotlight on life science leaders who are breaking new ground with methods and solutions in R&D, planning, and production that are improving patient outcomes. As the industry navigates uncertainty, the keynote speakers will help drive your business … Continue reading “Join Xconomy Next Week at the Virtual Xcelerate Keynote Series at Biotech Week Boston”
Bio Roundup: COVID-19 Pact, Gavreto Approval, Generative Biology & More
COVID-19 research efforts are often characterized as a race between companies, a description that reflects the urgency to develop a vaccine for the novel coronavirus. The description is not quite right. A race has one winner and public health officials have said we’ll need multiple vaccines to address the global need. Vaccine developers have progressed … Continue reading “Bio Roundup: COVID-19 Pact, Gavreto Approval, Generative Biology & More”
Satsuma Pharma’s Migraine Drug Fails to Beat Placebo in Phase 3 Test
[Updated, 7:31 p.m. EDT. See below.] An experimental Satsuma Pharmaceuticals treatment for acute migraine has failed a late-stage clinical trial, dealing a setback to the company’s plans to offer another therapeutic option to the millions of people who suffer from the condition. In Phase 3 results released Thursday, South San Francisco-based Satusuma (NASDAQ: [[ticker:STSA]]) reported … Continue reading “Satsuma Pharma’s Migraine Drug Fails to Beat Placebo in Phase 3 Test”
Grail Files to Go Public; 5 More Life Science Firms Join the IPO Queue
Grail, a company developing blood tests intended to detect cancer well before symptoms show, is taking its pitch to a broader swath of investors. The diagnostics company is looking ahead to potential commercialization of its technology as early as next year, and it has filed for an initial public offering to support its plans. In … Continue reading “Grail Files to Go Public; 5 More Life Science Firms Join the IPO Queue”
Grifols Moves Deeper Into Proteome R&D With $146M Deal for Alkahest
Alkahest, a company that analyzes blood proteins to develop therapies that address neurological disorders including Alzheimer’s disease, is set to be acquired by partner Grifols in a $146 million deal. Grifols (NASDAQ: [[ticker:GRFS]]) announced Tuesday that it is acquiring the shares of privately held Alkahest that it does not already own. Barcelona, Spain-based Grifols says … Continue reading “Grifols Moves Deeper Into Proteome R&D With $146M Deal for Alkahest”
FDA Approves Blueprint Cancer Drug Targeting RET Genetic Signatures
[Updated, 9/8/2020. See below.] A Blueprint Medicines drug for cancers that carry a certain genetic signature has received FDA approval, making it the latest targeted therapy to pass the regulatory bar this year. The late Friday decision for pralsetinib (Gavreto) covers non-small cell lung cancer (NSCLC). The drug was designed to address cancers characterized by fusions … Continue reading “FDA Approves Blueprint Cancer Drug Targeting RET Genetic Signatures”
AbbVie Strikes Deal for I-Mab Drug With a Potential Edge in CD47 Chase
The cancer protein CD47 is a hot target for drug developers, but it’s not without issues. Antibody drugs that block this protein can also spark anemia. I-Mab designed its antibody to pose less of an anemia risk and AbbVie, seeing an opportunity to catch up to other CD47 contenders and potentially stand apart from them, … Continue reading “AbbVie Strikes Deal for I-Mab Drug With a Potential Edge in CD47 Chase”
Bio Roundup: Pharma M&A, AbbVie’s Cancer Bet, Biofourmis Bucks & More
Labor Day is just around the corner and many people are looking forward to a last chance to celebrate the waning days of summer. But ahead of the holiday weekend, biopharmaceutical companies were hard at work closing deals. Food conglomerate Nestlé is delving deeper into pharmaceuticals with its $2.6 billion deal to acquire Aimmune Therapeutics, … Continue reading “Bio Roundup: Pharma M&A, AbbVie’s Cancer Bet, Biofourmis Bucks & More”
Biofourmis Hauls In $100M to Scale Digital Therapeutics Globally
Biofourmis, a digital therapeutics startup that employs wearable devices and data analytics to help treat patients, has raised $100 million to scale its offerings globally and develop new products that further blur the lines that once clearly separated drugs from medical devices. The new capital, a Series C round of funding, was led by SoftBank … Continue reading “Biofourmis Hauls In $100M to Scale Digital Therapeutics Globally”
Lumen Bioscience Lands $16M to Engineer “Edible” Antibody Drugs
If Lumen Bioscience achieves its goals, patients will be able to take its drugs the same way some people supplement breakfast: a spoonful heaped onto a bowl of cereal or mixed into juice. The startup harnesses spirulina, protein-rich cyanobacteria touted by many health enthusiasts as a “superfood.” Lumen CEO Brian Finrow (pictured above, right) acknowledges … Continue reading “Lumen Bioscience Lands $16M to Engineer “Edible” Antibody Drugs”
New Podcast and Special Report Explore How AI Is Revolutionizing Drug Discovery and Development
Learn what’s fueling San Francisco’s boom in AI, big data, and R&D, explore promising investment and partnership opportunities, and align the latest trends and technologies with your business by listening to our podcast and downloading our special report complementing Xconomy’s recent Xcelerating Life Sciences event. Artificial intelligence, including machine and deep learning, are revolutionizing the … Continue reading “New Podcast and Special Report Explore How AI Is Revolutionizing Drug Discovery and Development”
Gilead Sciences Places $120M Bet on a Jounce Therapeutics Cancer Drug
Gilead Sciences is opening up its checkbook yet again to add another cancer therapy to its pipeline, this time committing $120 million to Jounce Therapeutics for rights to an antibody drug approaching clinical testing. The Jounce (NASDAQ: [[ticker:JNCE]]) drug, JTX-1811, is intended to selectively deplete regulatory T cells—the type of immune cells that suppress the … Continue reading “Gilead Sciences Places $120M Bet on a Jounce Therapeutics Cancer Drug”
Early Bird Sale for Xcelerate at Biotech Week Boston Ends This Friday
Don’t miss out on savings for this year’s online Xcelerate Keynote Series at Biotech Week Boston – our early bird sale ends this Friday! Speakers include: Jeff Baker – Deputy Director, Office of Biotechnology Products, FDA Michelle McMurry-Heath – President & CEO, BIO John Maraganore – CEO, Alnylam Pharmaceuticals Yvonne Greenstreet – Chief Operating Officer, Alnylam Pharmaceuticals Andrew Plump … Continue reading “Early Bird Sale for Xcelerate at Biotech Week Boston Ends This Friday”
Nestlé to Swallow Up Peanut Allergy Drug Maker Aimmune in $2.6B Deal
Aimmune Therapeutics, which this year won the first FDA approval for a food allergy immunotherapy, is set to be acquired by a division of global food giant Nestlé in a deal that values the biopharmaceutical company at $2.6 billion. According to deal terms announced Monday, Nestlé will pay $34.50 for each Aimmune share that it … Continue reading “Nestlé to Swallow Up Peanut Allergy Drug Maker Aimmune in $2.6B Deal”
Biotech Roundup: FDA Culpa, Tricida Trips, Freenome’s Funding & More
Among the casualties of the COVID-19 pandemic: the credibility of government agencies entrusted with protecting public health. The FDA this week granted emergency use authorization for convalescent plasma as a treatment for infection by the novel coronavirus. FDA Commissioner Stephen Hahn and Department of Health and Human Services Secretary Alez Azar both misrepresented the magnitude … Continue reading “Biotech Roundup: FDA Culpa, Tricida Trips, Freenome’s Funding & More”
Kinnate Raises $98M for Human Tests of Targeted Cancer Therapies
Drugs designed to precisely target cancers with specific genetic signatures have changed the course of disease for many patients. But for the majority, such drugs either don’t work because of innate resistance or they eventually stop working once the cancer develops new mutations that hamper their effectiveness. Kinnate Biopharma, one of the biotechs working to … Continue reading “Kinnate Raises $98M for Human Tests of Targeted Cancer Therapies”
Freenome Tacks on $270M to Advance Blood Tests to Find Cancer Early
The ability to detect early signs of cancer in a patient’s blood could improve prognoses by helping doctors treat the disease before symptoms arise. Freenome, one of the companies racing to commercialize the first such screening test, on Wednesday announced it raised $270 million—money it plans to accelerate a clinical study of an experimental screening … Continue reading “Freenome Tacks on $270M to Advance Blood Tests to Find Cancer Early”
Dyne Eyes IPO for R&D of Genetic Medicines for Rare Muscle Diseases
Not long ago, having early data about how an experimental drug worked in humans was expected of biotechs considering IPOs. Dyne Therapeutics may not reach human testing until 2022, but, like many of its preclinical peers this year, the company is choosing to jump into public markets now while investor interest in the biotech sector … Continue reading “Dyne Eyes IPO for R&D of Genetic Medicines for Rare Muscle Diseases”
FDA Rejects Tricida Chronic Kidney Disease Drug, More Data Needed
Tricida’s bid for speedy approval of a drug for a condition caused by chronic kidney disease has been rejected by the FDA, which is asking for data that may require conducting another clinical trial. The South San Francisco-based biotech had tested its drug, veverimer, in a Phase 3 study and a follow-on extension study, both … Continue reading “FDA Rejects Tricida Chronic Kidney Disease Drug, More Data Needed”
FDA Adds Plasma as 2nd COVID-19 Treatment Under Emergency Guidelines
The FDA has authorized the use of plasma from people who have recovered from infection by the novel coronavirus as a treatment for hospitalized COVID-19 patients, a move widely perceived as influenced by political pressure given the lack of clear evidence of clinical benefit. Treating patients with plasma—the water, salts, and proteins that make up … Continue reading “FDA Adds Plasma as 2nd COVID-19 Treatment Under Emergency Guidelines”
Astellas Reports Third Patient Death in Audentes Gene Therapy Study
A third patient who received an experimental Audentes gene therapy for a rare neuromuscular disorder has died, a disclosure that comes two months after the deaths of two patients led the FDA to place a clinical hold on the study. San Francisco-based Audentes, a subsidiary of Japanese pharmaceutical company Astellas Pharma, said Friday that early … Continue reading “Astellas Reports Third Patient Death in Audentes Gene Therapy Study”
Bio Roundup: J&J Buyout, BioMarin Rebuffed, Poseida on Hold & More
While business is historically slow in August, this month seems to be bucking the trend, just like so many other unexpected developments in 2020. Perhaps life sciences executives have been less distracted by summer excursions this year in a world in which the COVID-19 pandemic has significantly curtailed travel. This week two pharmaceutical companies announced … Continue reading “Bio Roundup: J&J Buyout, BioMarin Rebuffed, Poseida on Hold & More”
FDA Rejects BioMarin Hemophilia Gene Therapy, Asks for More Data
A gene therapy designed to treat the severest cases of the most common type of hemophilia has been rejected by the FDA, which wants more data on the durability of the investigational treatment developed by BioMarin Pharmaceutical. Letters issued by the FDA turning down experimental treatments aren’t made public, but BioMarin (NASDAQ: [[ticker:BMRN]]) says the … Continue reading “FDA Rejects BioMarin Hemophilia Gene Therapy, Asks for More Data”
Kronos Bio Names Yasir Al-Wakeel as Its First Chief Financial Officer
Kronos Bio has added Yasir Al-Wakeel to its senior management team as chief financial officer and head of corporate development, a newly created role. Al-Wakeel most recently served as chief financial and strategy officer at Neon Therapeutics, which was acquired this year by Mainz, Germany-based BioNTech (NASDAQ: [[ticker:BNTX]]). Previously he held the role of CFO … Continue reading “Kronos Bio Names Yasir Al-Wakeel as Its First Chief Financial Officer”
Unity Biotech Arthritis Drug Flunks Phase 2, Spelling Program’s End
Unity Biotechnology’s ambition to develop drugs that treat diseases of aging has failed its first test as its lead candidate, an osteoarthritis treatment, could not beat a placebo in a mid-stage clinical trial. South San Francisco-based Unity (NASDAQ: [[ticker:UBX]]) is developing drugs that remove senescent cells, which are cells that have stopped dividing but still … Continue reading “Unity Biotech Arthritis Drug Flunks Phase 2, Spelling Program’s End”
Genentech Gets FDA OK for Injectable Rare Neuroimmune Disease Drug
A drug that can be administered at home to treat a rare central nervous system disorder that damages the optic nerves and spinal cord now has FDA approval, marking the third nod the agency has given to a therapy for the condition. The drug, satralizumab (Enspryng), from Roche’s South San Francisco-based subsidiary Genentech, is for … Continue reading “Genentech Gets FDA OK for Injectable Rare Neuroimmune Disease Drug”
Tango Therapeutics Adds $175M, Deal Turns Partner Gilead Into Investor
Cancer drug developer Tango Therapeutics is adding $175 million more to its coffers in cash and equity, funds the company says will help it get its lead program into the clinic in 18 months. The money includes $50 million in equity financing, $20 million of that from Gilead Sciences (NASDAQ: [[ticker:GILD]]), plus another $125 million … Continue reading “Tango Therapeutics Adds $175M, Deal Turns Partner Gilead Into Investor”
Sanofi Reaches $3.68B Deal to Buy Principia and Partnered MS Drug
[Updated, 4:36 p.m.] Sanofi, which has worked with Principia Biopharma for the past three years to develop a new multiple sclerosis treatment that penetrates into the brain, is set to buy its partner in a $3.68 billion deal to advance the development of that drug and other autoimmune compounds in the pipeline. Under financial terms … Continue reading “Sanofi Reaches $3.68B Deal to Buy Principia and Partnered MS Drug”
Bio Roundup: Seres Soars, MesoBlast Vote, Duchenne Decision & More
The road of drug development is rife with detours and disappointments but Seres Therapeutics showed this week that course corrections can work. Four years after its microbiome therapy failed in a mid-stage study, the company reported early positive data from a pivotal test of its treatment for a type of gut infection. The results are … Continue reading “Bio Roundup: Seres Soars, MesoBlast Vote, Duchenne Decision & More”