Joyn Bio, a biotech company developing microbes engineered for agricultural applications, is adding microbes from NewLeaf Symbiotics to its toolbox in an effort to get to market faster and expand the scope of its research. The partnership announced Monday gives Joyn access to NewLeaf’s library of plant-colonizing microbes. Joyn, which is based in Boston and … Continue reading “Joyn Bio Reaches Deal to Tap Into NewLeaf’s Plant Microbe Library”
Category: San Francisco
Could Facebook’s Crypto Break Financial System? Congress Airs Fears
In late 2017, a federal watchdog unit assigned a working group to keep an eye on cryptocurrencies such as Bitcoin, and to sound an alert if those alternate currencies showed signs of becoming a risk to the stability of the US financial system. Soaring prices of Bitcoin and other so-called digital tokens were attracting investments … Continue reading “Could Facebook’s Crypto Break Financial System? Congress Airs Fears”
Iovance Bio Taps Roche’s Graf Finckenstein for Chief Medical Officer
Iovance Biotherapeutics (NASDAQ: [[ticker:IOVA]]) has appointed Graf Finckenstein to serve as its chief medical officer. Finckenstein comes to the San Carlos, CA, cancer drug developer from Roche, where he was global head of oncology translational medicine. His experience also includes positions at Bristol-Myers Squibb (NYSE: [[ticker:BMY]]). Iovance, which is developing a type of cancer treatment … Continue reading “Iovance Bio Taps Roche’s Graf Finckenstein for Chief Medical Officer”
Bio Roundup: Opioid Exposé, Gilead’s Gambit, Life Science IPOs & More
The opioid crisis reaches all corners of the nation, and newly released data this week revealed how the growth of the epidemic tracked with a massive increase in the production and distribution of these drugs. From 2006 to 2012, the number of pills distributed to pharmacies increased by more than 50 percent. In total, 76 … Continue reading “Bio Roundup: Opioid Exposé, Gilead’s Gambit, Life Science IPOs & More”
VMWare Plans to Acquire Bitfusion for Application-Enhancing Software
Austin—VMWare announced Thursday it intends to acquire Bitfusion, a startup with offices in Austin, TX and Silicon Valley that makes software aimed at optimizing the way hardware such as graphic processing units are used by applications. Terms were not disclosed. Bitfusion’s software is particularly useful for companies using artificial intelligence and machine learning technology in … Continue reading “VMWare Plans to Acquire Bitfusion for Application-Enhancing Software”
Kronos Bio Reels In $105M for Drugs That Hit “Undruggable” Targets
Kronos Bio has raised $105 million in financing to develop therapies intended to target disease-causing proteins that have so far eluded the best efforts of drug hunters. The Series A round of funding announced Thursday was led by Vida Ventures and Omega Funds. Drugs typically work by either binding to a target site on a … Continue reading “Kronos Bio Reels In $105M for Drugs That Hit “Undruggable” Targets”
Genmab, Mirum Pharma & Fulcrum Raise $653M in Wall Street Debuts
Initial public offerings took a brief summer break the week of Independence Day, but healthcare IPO activity resumed this week as three more companies joined the US public markets. Here’s a recap of the biotech companies that priced IPOs Wednesday evening. —Genmab is different from the other life science companies that joined the public markets … Continue reading “Genmab, Mirum Pharma & Fulcrum Raise $653M in Wall Street Debuts”
Gilead Chief Scientific Officer McHutchison and Two More to Depart
John McHutchison, chief scientific officer and head of research and development at Gilead Sciences (NASDAQ: [[ticker:GILD]]), is leaving next month, the Foster City, CA, company announced Wednesday. Gilead gave no reason for McHutchison’s decision to depart other than to say it was voluntary. McHutchison joined Gilead in 2010 and was appointed CSO in 2018, succeeding … Continue reading “Gilead Chief Scientific Officer McHutchison and Two More to Depart”
Skyhawk Inks Deal With Genentech for Cancer and Neuro Drug Discovery
Skyhawk Therapeutics has added Genentech to the growing list of companies it’s working with to find new drugs. The deal with Genentech, a Roche subsidiary, calls for Cambridge, MA-based Skyhawk to use its technology to discover and develop RNA-targeting drugs for cancer and neurological diseases. Under the deal announced Tuesday, Genentech receives an exclusive license … Continue reading “Skyhawk Inks Deal With Genentech for Cancer and Neuro Drug Discovery”
Prenatal Testing Firm Cradle Genomics Debuts With $17M, Illumina Ties
Another company headed by former Illumina executives has launched, fueled with a $17 million Series A round from investors including a local venture capital firm. The new firm, Cradle Genomics, is seeking to commercialize improved non-invasive prenatal tests, which analyze blood from a pregnant person to determine whether a fetus will be born with an … Continue reading “Prenatal Testing Firm Cradle Genomics Debuts With $17M, Illumina Ties”
Gilead Ups Stake in Galapagos With $5B Deal to Jumpstart Its R&D
Gilead Sciences on Sunday looked to another firm to rejuvenate its research capabilities, agreeing to put more than $5 billion in cash into Galapagos NV and get access to a slew of experimental drugs in return. Gilead (NASDAQ: [[ticker:GILD]]) will pay Galapagos (NASDAQ: [[ticker:GLPG]]) a whopping $3.95 billion in cash and make a $1.1 billion … Continue reading “Gilead Ups Stake in Galapagos With $5B Deal to Jumpstart Its R&D”
Narrowing AI: A Useful Context for AI Innovation, Opportunity, and Investment
I was asked recently if there was a meaningful analog to AI – its pervasiveness, its transformative potential, its power – in the annals of technology, and I answered with a straight face: “Yes. The Wheel. The Printing Press. Electricity. The Internet.” I truly believe AI is going to be that big, if not bigger, … Continue reading “Narrowing AI: A Useful Context for AI Innovation, Opportunity, and Investment”
Neon’s Early Vaccine Study Is a Peek at Immunotherapy’s Third Wave
In this new age of cancer immunotherapy, two versions have been approved. The first are checkpoint inhibitors, which have begun to change the way skin, lung, and other cancers are treated. The second are CAR-T cell therapies, which have shown promise in blood cancers. A third type of cancer immunotherapy is just now reaching clinical … Continue reading “Neon’s Early Vaccine Study Is a Peek at Immunotherapy’s Third Wave”
Bio Roundup: Michael Becker, Suzanne Eaton, Gene Therapy Moves & More
The life science and healthcare worlds are vast. We often talk about impact in terms of millions of patients and billions of dollars. But these worlds can be small, too. It seems at times we’re never far removed from any one person, through their published papers, social media connections, friends, colleagues, or people they’ve mentored. … Continue reading “Bio Roundup: Michael Becker, Suzanne Eaton, Gene Therapy Moves & More”
Amgen, Novartis BACE Inhibitor Joins List of Failed Alzheimer’s Drugs
Amgen and Novartis are stopping work on an experimental Alzheimer’s disease drug after an early look at clinical data showed worsening cognitive function in patients. The interim results announced Thursday were part of a pre-planned review of data from two pivotal clinical trials testing the drug, umibecestat. Based on that review, Amgen (NASDAQ: [[ticker:AMGN]]) and … Continue reading “Amgen, Novartis BACE Inhibitor Joins List of Failed Alzheimer’s Drugs”
Tizona Therapeutics Taps Joyson Karakunnel as Chief Medical Officer
Joyson Karakunnel has been appointed senior vice president and chief medical officer of Tizona Therapeutics. Karakunnel joins South San Francisco-based Tizona from Arcus Biosciences (NASDAQ: [[ticker:RCUS]]), where he was vice president and head of clinical development. Privately held Tizona is developing cancer immunotherapies. In January, the company received $105 million up front plus an equity … Continue reading “Tizona Therapeutics Taps Joyson Karakunnel as Chief Medical Officer”
Annexon Bio Brings On Rheos Exec Sanjay Keswani as Chief Medical Officer
Sanjay Keswani has left the president and CEO post at Rheos Medicines to become chief medical officer of Annexon Biosciences. Keswani’s experience also includes positions at Roche, Bristol-Myers Squibb (NYSE: [[ticker:BMY]]), and Eli Lilly (NYSE: [[ticker:LLY]]). In other moves, South San Francisco-based Annexon named Jennifer Lew chief financial officer and Lesley Stolz chief business officer. … Continue reading “Annexon Bio Brings On Rheos Exec Sanjay Keswani as Chief Medical Officer”
Trump Kills His Administration’s Plan to End Secret Drug Rebates
Donald Trump’s criticism of high drug prices began during the 2016 presidential campaign and continued through his presidency, perhaps most famously just before his inauguration when he said that drug companies were “getting away with murder.” This week has underlined the gap between the administration’s rhetoric and results. Most strikingly, the White House said last … Continue reading “Trump Kills His Administration’s Plan to End Secret Drug Rebates”
ORIC Pharma Names Genentech’s Lori Friedman Chief Scientific Officer
ORIC Pharmaceuticals has appointed Lori Friedman to serve as its chief scientific officer. Friedman is joining South San Francisco-based ORIC after 15 years at Roche’s Genentech unit, where she was most recently senior director of translational oncology. ORIC is developing therapies to treat drug-resistant cancers. The company’s lead program, ORIC-101, is in early-stage clinical testing.
Record Exit Value for VC-Backed Startups Could Fuel Investment
More than a third of the companies that went public in the first half of this year were backed by venture capital. That, plus robust merger and acquisition activity, set a record for venture-backed exit value—$165.2 billion in money returned to investors—that’s already topped all other full-year totals, according to the latest VentureMonitor, the quarterly … Continue reading “Record Exit Value for VC-Backed Startups Could Fuel Investment”
Grocer H-E-B Explores Autonomous Delivery With SF-Area Startup Udelv
San Antonio — Pretty soon, the milkman may be making a comeback—at least, a robotic version. San Antonio-based grocery chain H-E-B is beginning a pilot program later this year to test out using an autonomous vehicle for grocery delivery. H-E-B plans to test one self-driving vehicle in a single San Antonio neighborhood, Olmos Park. The company … Continue reading “Grocer H-E-B Explores Autonomous Delivery With SF-Area Startup Udelv”
Cisco Invests in Optical Tech With $2.6B Acacia Communications Deal
Cisco is buying Maynard, MA-based Acacia Communications (NASDAQ: [[ticker:ACIA]]) for $2.6 billion in a deal to boost the networking giant’s stock of optical technologies, the companies announced Tuesday. The deal values Acacia at $70 per share, a 46 percent premium to its closing stock price Monday, but still a bargain compared with Acacia’s peak share … Continue reading “Cisco Invests in Optical Tech With $2.6B Acacia Communications Deal”
After Amgen’s Spark, Revolution Med Nabs $100M to Push RAS Cancer Drugs
In May, Amgen (NASDAQ: [[ticker:AMGN]]) revealed intriguing data from the first-ever human trial of a drug that targets tumors with a specific mutation to the gene KRAS, which occurs in about one-quarter of all cancers. Amgen showed 30 percent of lung cancer patients with the mutation saw their tumors shrink. Even though the data were … Continue reading “After Amgen’s Spark, Revolution Med Nabs $100M to Push RAS Cancer Drugs”
How Do YOU Think the Internet Will Evolve? A Sampling of Your Tweets
[Editor’s note: This is part of a series examining the internet’s first 50 years and predicting the next half century. Join Xconomy and World Frontiers Forum on July 16 for Net@50, an event exploring the internet’s past and future.] For my feature article “Special Report 2069: Predicting the Internet’s Next 50 Years,” I asked my Twitter … Continue reading “How Do YOU Think the Internet Will Evolve? A Sampling of Your Tweets”
AV Mapping Startup Carmera Joins Baidu’s Open-Source Apollo Platform
Just as Google is developing autonomous vehicles through its subsidiary Waymo, China’s largest online search engine, Baidu, is also racing to develop AVs. Last week, the company announced a new milestone: It has now tested self-driving cars on more than 1 million miles of roadway in 13 Chinese cities. Baidu (NASDAQ: [[ticker:BIDU]]) is playing catch-up … Continue reading “AV Mapping Startup Carmera Joins Baidu’s Open-Source Apollo Platform”
Performance Management Firm 15Five Pulls in $30M to Scale Up
Many companies have been adjusting to the changing workforce as millennials become a larger component of their staff rosters. Some are adapting with the help of talent management services such as 15Five, which has studied the millennial mindset. San Francisco-based 15Five nudges employers to fill the needs of their customers by better addressing the needs … Continue reading “Performance Management Firm 15Five Pulls in $30M to Scale Up”
As Sangamo Touts Data, BioMarin Preps Hemophilia Gene Therapy For FDA
[Updated 7/8/19, 9:22 am. See below.] Gene therapy for hemophilia is as close as it’s ever been to market. And the race to get there got more heated this past weekend at a medical meeting in Australia. At the International Society on Thrombosis and Haemostasis meeting in Melbourne, Sangamo Therapeutics (NASDAQ: [[ticker:SGMO]]) and partner Pfizer … Continue reading “As Sangamo Touts Data, BioMarin Preps Hemophilia Gene Therapy For FDA”
Future of the Internet: What Scares Networking Pioneer Radia Perlman
[Editor’s note: This is part of a series examining the internet’s first 50 years and predicting the next half century. Join Xconomy and World Frontiers Forum on July 16 for Net@50, an event exploring the internet’s past and future.] Bob Metcalfe co-invented Ethernet, the communications standard still used for most local on-site networking, but Radia Perlman … Continue reading “Future of the Internet: What Scares Networking Pioneer Radia Perlman”
Why Ethernet Inventor Bob Metcalfe is an Internet Optimist
[Editor’s note: This is part of a series examining the internet’s first 50 years and predicting the next half century. Join Xconomy and World Frontiers Forum on July 16 for Net@50, an event exploring the internet’s past and future.] Right alongside Moore’s Law, which describes the exponential growth in computing power since the 1960s, there’s Metcalfe’s … Continue reading “Why Ethernet Inventor Bob Metcalfe is an Internet Optimist”
Bio Roundup: Duchenne Race, Warren v. Gottlieb, A $599 Genome & More
As we pause to celebrate the 4th of July, another birthday is top of mind: A third baby whose embryonic DNA was edited by Chinese scientist He Jiankui. As Xconomy reported in November, He hinted about a second pregnancy after his infamous revelation of twins altered with CRISPR gene editing tools. That second pregnancy—a third … Continue reading “Bio Roundup: Duchenne Race, Warren v. Gottlieb, A $599 Genome & More”
Talk of Broadcom Buyout of Symantec Puts Broader IT Focus Into View
Broadcom is once, twice, three times a multi-billion-dollar dealmaker (well, basically) in the past year if it follows through on its reported talks to acquire Mountain View, CA-based cybersecurity giant Symantec. The potential acquisition, which was first reported Tuesday by Bloomberg citing anonymous sources, represents Broadcom’s continued (NASDAQ: [[ticker:AVGO]]) interest in broadening its business beyond … Continue reading “Talk of Broadcom Buyout of Symantec Puts Broader IT Focus Into View”
Ex-Apple UX Guru Don Norman Calls for Replacing the Internet
[Editor’s note: This is part of a series examining the internet’s first 50 years and predicting the next half century. Join Xconomy and World Frontiers Forum on July 16 for Net@50, an event exploring the internet’s past and future.] No one has done more than Donald Norman to teach us that every piece of hardware … Continue reading “Ex-Apple UX Guru Don Norman Calls for Replacing the Internet”
Uber Rejiggers App to Highlight Its Bikes, Scooters in San Diego
San Diego is one of two metropolitan areas in which ride-hailing giant Uber has reformatted its mobile app to make it simpler for users to rent an electric bicycle or scooter. With the previous version of Uber’s (NYSE: [[ticker:UBER]]) app, users had to navigate from the main menu to another part of the app to … Continue reading “Uber Rejiggers App to Highlight Its Bikes, Scooters in San Diego”
What Is the Future of the Internet? Experts Predict Next 50 Years
[Editor’s note: This is part of a series examining the internet’s first 50 years and predicting the next half century. Join Xconomy and World Frontiers Forum on July 16 for Net@50, an event exploring the internet’s past and future.] It’s a good thing journalists, pundits, and consultants can’t be held liable for the predictions we … Continue reading “What Is the Future of the Internet? Experts Predict Next 50 Years”
What ARPANET’s History Can Teach Us About Cybersecurity
[Editor’s note: This is part of a series examining the internet’s first 50 years and predicting the next half century. Join Xconomy and World Frontiers Forum on July 16 for Net@50, an event exploring the internet’s past and future.] The internet nearly came with built-in caller ID. The year was 1972: three years after the … Continue reading “What ARPANET’s History Can Teach Us About Cybersecurity”
IPO to Watch: Digital Health Developer Livongo Plans to Go Public
Digital health businesses haven’t had trouble raising venture capital funds from investors—2018 was a record year with $8.1 billion in funding—but few of them have made the move to hold initial public offerings. Livongo Health, a digital health company developing devices and software to help patients manage chronic conditions, believes it is ready, announcing Friday … Continue reading “IPO to Watch: Digital Health Developer Livongo Plans to Go Public”
Peter Gabriel Joins Net@50 Lineup; Tix Going Fast for July 16 Event
Legendary rock musician and longtime internet evangelist Peter Gabriel has joined the all-star cast of speakers for Net@50, a historic event celebrating the 50th anniversary of the first net message—while also looking ahead to the internet’s next 50 years. The event, put on by the non-profit World Frontiers Forum in association with Xconomy, takes place … Continue reading “Peter Gabriel Joins Net@50 Lineup; Tix Going Fast for July 16 Event”
As Cities Ban Face Recognition, Body-Cam Firm Axon Also Nixes It
This week’s decision by police equipment manufacturer Axon to forego using facial recognition software in its body cameras follows a string of other actions against the use of face-matching technology by public agencies. They include a pioneering ban in San Francisco last month, and another passed Thursday by the city council of Somerville, MA. What … Continue reading “As Cities Ban Face Recognition, Body-Cam Firm Axon Also Nixes It”
Carnegie Mellon, Argo AI Form $15M Self-Driving Car Research Center
Carnegie Mellon University this week announced a five-year research partnership with Argo AI that will focus on advanced perception and decision-making algorithms for autonomous vehicles (AVs). Argo AI, a Pittsburgh-based self-driving car startup whose majority investor is Ford (NYSE: [[ticker:F]]), is spending $15 million to fund the effort, which will be called the Carnegie Mellon … Continue reading “Carnegie Mellon, Argo AI Form $15M Self-Driving Car Research Center”
Bio Roundup: Merger Drama, FDA Trauma, Big IPOs, CRISPR Fights & More
It was a busy week. If we had to choose a theme, it was all about getting together. Two huge drug companies, AbbVie and Allergan, said they’d be better as one. Two more huge drug companies, Celgene and Bristol-Myers Squibb, learned they would have to leave a big product behind if they want to merge. … Continue reading “Bio Roundup: Merger Drama, FDA Trauma, Big IPOs, CRISPR Fights & More”
What’s Worth $34B? IBM Gets OK in Europe for Acquisition of Red Hat
IBM’s acquisition of open-source software maker Red Hat cleared the hurdle of approval from European regulators Thursday because it raised no concerns about competition, according to the European Commission. The $34 billion deal, which the companies plan on closing in the second half of 2019, drew attention when it was announced last fall for being … Continue reading “What’s Worth $34B? IBM Gets OK in Europe for Acquisition of Red Hat”
Amunix Taps Five Prime’s Irving for Chief Scientific Officer Role
Bryan Irving has joined Amunix Pharmaceuticals as chief scientific officer, the same postion he held at Five Prime Therapeutics (NASDAQ: [[ticker:FPRX]]). Irving’s experience also includes posts at CytomX and Genentech. Mountain View, CA-based Amunix is developing protein-based therapies for cancer and other diseases.
Degreed Raises $75M to Expand in Growing Workforce Training Sector
Degreed, which helps businesses upgrade the skills of their staffers through an online gateway to learning resources, announced Thursday it has raised $75 million to grow the service and expand internationally. San Francisco-based Degreed is among the educational technology companies now classified as “learning experience platforms,’’ because they organize staff participation in skills development training … Continue reading “Degreed Raises $75M to Expand in Growing Workforce Training Sector”
BridgeBio Upsizes IPO to $348M, Topping Adaptive’s Wall Street Debut
Rare disease drug developer BridgeBio is now a public company, raising $348.5 million in the biggest biotech IPO so far this year. On Wednesday night, BridgeBio priced its stock offering of 20.5 million shares at $17 each, topping the $14 to $16 per share price range it had initially targeted. The Palo Alto, CA, company … Continue reading “BridgeBio Upsizes IPO to $348M, Topping Adaptive’s Wall Street Debut”
Sequencing Firm Adaptive’s $300M IPO Comes With Pharma Ambitions
If biotech’s historic bull run is losing steam, as some observers believe, this week is one hell of a final stampede. Adaptive Biotechnologies of Seattle just raised $300 million. BridgeBio Pharma of Palo Alto, CA, has topped it, raising $348.5 million. Both begin trading Thursday. The combined haul is a remarkable sum, more than 2 … Continue reading “Sequencing Firm Adaptive’s $300M IPO Comes With Pharma Ambitions”
Detroit’s StockX Gains Unicorn Status After $110M Series C Investment
Southeast Michigan is now home to another unicorn startup. Detroit-based e-commerce company StockX announced Wednesday that it has raised $110 million in a Series C funding round, increasing the company’s total value to more than $1 billion. The investment was led by DST Global, General Atlantic, and GGV Capital. In a statement announcing the funding … Continue reading “Detroit’s StockX Gains Unicorn Status After $110M Series C Investment”
PanTheryx Lands $50M to Use “First Milk” to Target Gut Microbiome
[Corrected, 6/28/19. See below.] There’s a reason why mothers are instructed to breastfeed their babies soon after they’re born. The milk they produce in the days after giving birth is rich in nutrients, immune cells, and antibodies. While this “first milk,” also known as colostrum, is crucial in getting newborns off to a healthy start, … Continue reading “PanTheryx Lands $50M to Use “First Milk” to Target Gut Microbiome”
Turning Genomics into Better Health
Two decades ago, rival teams cracked open the human genome. Tapping its secrets was slow at first, but the drip of information has become a flood with cheap hardware, software, and data storage. Are we finally ready to reap the benefits and bring better health and longer lives to millions of people? Join Xconomy on … Continue reading “Turning Genomics into Better Health”
Encoded Nabs $104M, Illumina’s Help, to Push Gene Therapy’s Limits
Despite the progress of gene therapy—a cutting edge medicine promising long-lasting effects from a single treatment—it remains a crude and limited tool. Startup Encoded Therapeutics has raised $104 million to join the race to expand gene therapy’s reach. The South San Francisco, CA, company has emerged from the startup accelerator of Illumina (NASDAQ: [[ticker:ILMN]]), and … Continue reading “Encoded Nabs $104M, Illumina’s Help, to Push Gene Therapy’s Limits”
Hate to Pump Gas? Booster Scores $56M to Scale Mobile Fill-Ups
Booster, an on-demand service that fills gas tanks for car owners while they shop at a mall or work at their office desks, announced Tuesday it has raised $56 million to expand into new territories. San Mateo, CA-based Booster runs about 70 mini fuel tankers that circulate at office complexes, sports clubs, and other commercial … Continue reading “Hate to Pump Gas? Booster Scores $56M to Scale Mobile Fill-Ups”