A special board of the US Patent and Trademark Office has reignited the long-running patent fight over who invented the groundbreaking CRISPR-Cas9 gene editing system. Nearly a year ago, the matter seemed put to rest after a federal court upheld a ruling of the same patent office board. The court validated a key 2014 patent … Continue reading “Broad, Berkeley Return to Argue CRISPR Invention at Patent Office”
Category: San Francisco
Led by Tech, Healthcare Debuts, IPOs in 2019 Show Positive Returns
Even as Uber, Lyft, and other high-profile initial public offerings underperformed out of the gate, the average share price of companies that have gone public in the US this year is up by almost 33 percent. That’s according to data based on the mean returns of issuers that started trading through June 19, released by … Continue reading “Led by Tech, Healthcare Debuts, IPOs in 2019 Show Positive Returns”
The Path to a More Human Voice Interface
The world is changing fast. Everything is getting connected. The connected home – the smart fridge, the smart thermostat, the smart TV – will soon be a mainstay of a connected world, an era quickly being ushered in by 5G, AI on the edge, and a slew of other enabling technologies. And I believe the … Continue reading “The Path to a More Human Voice Interface”
Everactive Snags $30M Series C to Advance Battery-less IoT Sensors
Everactive, a Bay Area startup, has raised $30 million in a Series C funding round. The investment was led by Future Fund with participation from Blue Bear Capital, ABB Technology Ventures, New Enterprise Associates, and Osage University Partners. The company has raised $63 million since its inception in 2012. Everactive, formerly known as Psi Kick, … Continue reading “Everactive Snags $30M Series C to Advance Battery-less IoT Sensors”
AbbVie to Pay $63B for Allergan to Prepare for Life Without Humira
[Updated, 10:11 am ET, see below.] Pharmaceutical giant AbbVie this morning agreed to acquire Allergan in a $63 billion deal meant to provide the pharmaceutical giant with enough revenue to brace for the loss of patent protection for the world’s top-selling drug. AbbVie (NYSE: [[ticker:ABBV]]) will pay $188.24 per share in cash and stock for … Continue reading “AbbVie to Pay $63B for Allergan to Prepare for Life Without Humira”
Conatus to Slash Staff, Consider Sale After NASH Trial Failures
Conatus Pharmaceuticals said Monday that it would cut its staff by 40 percent and consider a sale or merger after a drug it was testing as a treatment for an increasingly common form of chronic liver disease failed to beat a placebo in a mid-stage clinical trial—the latest letdown in a number of trial failures. … Continue reading “Conatus to Slash Staff, Consider Sale After NASH Trial Failures”
Dems and GOP Senators Unite Versus Big Tech on Data Privacy Bills
To hear some people talk, you’d think the age of bipartisan action in Congress was a lost phenomenon of the distant past. But it’s not so, at least when it comes to certain issues. And no one knows it better than the big Silicon Valley tech companies that are the recent targets of proposed bipartisan … Continue reading “Dems and GOP Senators Unite Versus Big Tech on Data Privacy Bills”
Ex-AstraZeneca Exec Hoefer Joins Arcus as Chief Commercial Officer
Arcus Biosciences (NYSE: [[ticker:RCUS]]) has appointed Eric Hoefer to serve as chief commercial officer. Hoefer most recently worked at AstraZeneca (NYSE: [[ticker:AZN]]), where he led immune-oncology global marketing. His experience also includes posts at Roche and Genentech. Hayward, CA-based Arcus raised $120 million in an IPO last year to fund clinical development of its experimental … Continue reading “Ex-AstraZeneca Exec Hoefer Joins Arcus as Chief Commercial Officer”
Review: Inside the House of Lies at Theranos
Youth. Charm. Fearlessness. Ruthless focus. These can be positive attributes in an entrepreneur, but in a more rational world, technology investors wouldn’t overvalue them. Risk capital would be allocated based mostly on evidence, data, progress towards milestones—in short, on proof. In the real world, of course, proof is hard to come by. Hope, avarice, or … Continue reading “Review: Inside the House of Lies at Theranos”
Locana, Fueled With $55M, Looks to Develop Fixes for Faulty RNA
Editing human DNA has entered the public consciousness in a big way in recent years with its increasing use in laboratories—and, in recent news that shocked the scientific community, in embryos—of tools such as CRISPR-Cas9. Locana, a gene therapy biotech in San Diego, is taking what it describes as a “parallel path” to developing therapeutics … Continue reading “Locana, Fueled With $55M, Looks to Develop Fixes for Faulty RNA”
Bio Roundup: Array Bio Acquired, IPO Spree, Sanofi’s Job Cuts & More
[Corrected 6/24/19, 12:08 p.m. See below.] Cancer remains one of the hottest areas for pharma deals and this week saw a big one: Pfizer’s proposed $11.4 billion buyout of Array Biopharma. The announcement comes less than a month after Boulder, CO-based Array announced positive data from a pivotal study of its combination drug in colorectal … Continue reading “Bio Roundup: Array Bio Acquired, IPO Spree, Sanofi’s Job Cuts & More”
Ultragenyx Pharma Promotes Erik Harris to Chief Commercial Officer
Ultragenyx Pharmaceutical (NASDAQ: [[ticker:RARE]]) has promoted Erik Harris to executive vice president and chief commercial officer. Harris joined the Novato, CA-based rare disease drugs developer in 2017 as senior vice president, head of North American commercial operations. His experience also includes posts at Crescendo Bioscience and Intermune. Last year, Ultragenyx won FDA approval for burosumab … Continue reading “Ultragenyx Pharma Promotes Erik Harris to Chief Commercial Officer”
Four More Through the IPO Door as Life Science Firms Raise $465M
It’s been a strong year for biotech IPOs and Wednesday shaped up to be a particularly busy day as four life science firms debuted on the public markets. So far this year, 72 companies have gone public, according to IPO research firm Renaissance Capital. That total is down 20 percent compared to the same period … Continue reading “Four More Through the IPO Door as Life Science Firms Raise $465M”
Element Biosciences Lands $15M to Develop New Genetic Analysis Tools
Most of the genetic analysis done today is performed on machines made by Illumina, the DNA sequencing giant. Now a former director from the company is leading a startup that has raised $15 million to develop new genome sequencing tools. San Diego’s Element Biosciences said Tuesday that it had secured a Series A round led … Continue reading “Element Biosciences Lands $15M to Develop New Genetic Analysis Tools”
With $45M Nurix Deal, Gilead Enters Crowded Protein Degradation Field
Gilead Sciences is turning to Nurix Therapeutics in an effort to discover new drugs that harness the cellular machinery our bodies use to dispose of damaged or harmful proteins. Foster City, CA-based Gilead (NASDAQ: [[ticker:GILD]]) will pay Nurix $45 million up front to kickstart the alliance, through which the companies aim to develop drugs for … Continue reading “With $45M Nurix Deal, Gilead Enters Crowded Protein Degradation Field”
Perceptive Automata Uses Neuroscience to Help AVs Predict Intent
Those of us who like to ride our bikes on city streets know the importance of The Staredown. Say a biker is trundling past an intersection and a car is inching forward to make a righthand turn while the light is red. It makes the biker feel better to intently stare at the driver in … Continue reading “Perceptive Automata Uses Neuroscience to Help AVs Predict Intent”
Maze Therapeutics Promotes Jason Coloma to CEO
Jason Coloma has been promoted to CEO of Maze Therapeutics. Coloma was the chief operating officer for the San Francisco company. He succeeds interim CEO Charles Homcy, who will become Maze’s chairman. Coloma came to Maze from venture capital firm Third Rock Ventures. His experience also includes posts at Roche, L.E.K. Consulting, Amgen (NASDAQ: [[ticker:AMGN]]), … Continue reading “Maze Therapeutics Promotes Jason Coloma to CEO”
Invitae Offers $55M for Singular Bio to Expand Prenatal Test Business
Invitae, a maker of a wide array of low-cost genetic medical tests, has reached a deal to acquire Singular Bio to expand its ability to screen babies for disease during the early months of pregnancy. Invitae (NYSE: [[ticker:NVTA]]) said Monday it will pay $55 million in cash and stock to acquire privately held Singular Bio. … Continue reading “Invitae Offers $55M for Singular Bio to Expand Prenatal Test Business”
Colorectal Cancer Data Spurs Pfizer to Pay $11.4B for Array Bio
[Updated 11:02 a.m. See below.] Array BioPharma touted data less than a month ago that could shift the treatment landscape for some patients with metastatic colorectal cancer. The data caught the eye of Pfizer, which just agreed this morning to buy the Boulder, CO, cancer drug maker for $11.4 billion. Pfizer (NYSE: [[ticker:PFE]]) will pay … Continue reading “Colorectal Cancer Data Spurs Pfizer to Pay $11.4B for Array Bio”
Why My Company Chose Boston, Not Silicon Valley, for Its US HQ
No matter where you are in the world, if you want your company to be a global leader in software, you have to take on the US market. As the co-founder of a French tech startup, I’ve always known that if we wanted to be successful, we would eventually need to establish a presence in … Continue reading “Why My Company Chose Boston, Not Silicon Valley, for Its US HQ”
Bio Roundup: Roche-Spark Drags On, GSK Taps CRISPR, Diabetes News & More
Is one of the bigger biopharma acquisitions of the year in trouble? This past week, antitrust regulators once again delayed Roche’s planned $4.8 billion buyout of gene therapy developer Spark Therapeutics (NASDAQ: [[ticker:ONCE]]). The US Federal Trade Commission wants yet more information about the buyout, and overseas, the UK Competition and Markets Authority opened a … Continue reading “Bio Roundup: Roche-Spark Drags On, GSK Taps CRISPR, Diabetes News & More”
Aurora Ends Affiliation with VW as it Begins Collaboration with FCA
Fiat Chrysler Automobiles has arguably been quieter on the autonomous vehicle front than Ford and GM, but this week marked a significant development for the company. FCA announced it will partner with Aurora, a Bay Area startup developing self-driving technologies. The companies did not disclose the financial terms of the arrangement. Wired reports that the … Continue reading “Aurora Ends Affiliation with VW as it Begins Collaboration with FCA”
Can AI Tools, $76M Lead BlackThorn to Targeted Psych Drugs?
It’s notoriously tough for experimental psychiatric drugs to succeed in clinical tests. BlackThorn Therapeutics wants to show that an AI-driven, precision approach can make it easier, and today it’s added another $76 million to get the chance to prove it. The new Series B round will give San Francisco-based BlackThorn—a startup spun out of the … Continue reading “Can AI Tools, $76M Lead BlackThorn to Targeted Psych Drugs?”
Your Tech Startup Is Probably Not Ready to Raise Money
I know, I don’t even know you. Here’s the thing. Let’s say Melanie is an early-stage investor. If she placed a bet blindly for every startup that thinks they’re ready to raise, her chips would fall on the “not ready to raise” words written in fancy script on the soft green felt of the betting … Continue reading “Your Tech Startup Is Probably Not Ready to Raise Money”
IPO Scorecard: CrowdStrike Gains 70 Percent on First Trading Day
Cybersecurity firm CrowdStrike delivered the kind of market debut this week that was an unfulfilled dream for the much-anticipated IPOs of Uber and Lyft earlier this year. Sunnyvale, CA-based CrowdStrike (NASDAQ: [[ticker:CRWD]]) priced 18 million shares of common stock at $34 on Tuesday. Trading began at $63.50 Wednesday, and reached a near-doubling of the company’s … Continue reading “IPO Scorecard: CrowdStrike Gains 70 Percent on First Trading Day”
U-M Leads 10-University Project to Tackle Equity, Inclusion in STEM
Academic researchers have long studied gender and racial disparities in STEM education, but they have not had widespread success in addressing these challenges. A University of Michigan professor and colleagues from 10 universities are hoping to change that. At public research universities like U-M, introductory courses in STEM (science, technology, engineering, math) subjects are the … Continue reading “U-M Leads 10-University Project to Tackle Equity, Inclusion in STEM”
Insurance Tech Startup CyberFortress Starts Risk Assessment Service
San Antonio—CyberFortress, an insurance tech startup founded late last year, is graduating from the Plug and Play accelerator and launching a new service that gauges how vulnerable ecommerce businesses are to hacking. The service assesses the risk of an ecommerce business being taken down because of something like a distributed denial-of-service (DDoS) attack or ransomware, … Continue reading “Insurance Tech Startup CyberFortress Starts Risk Assessment Service”
CymaBay Therapeutics Stumbles in NASH Race, Shares Fall
One of the entrants in the ultra-competitive race to develop treatments for the fatty liver disease known nonalcoholic steatohepatitis (NASH) suffered a setback in clinical testing today, but the company, Cymabay Therapeutics, still believes its drug could show promise as the study continues. Cymabay (NASDAQ: [[ticker:CBAY]]), of Newark, CA, reported interim results from a Phase … Continue reading “CymaBay Therapeutics Stumbles in NASH Race, Shares Fall”
Salesforce to Boost Analytics Suite With $15.7B Deal to Buy Tableau
[Updated 6/11/19 10:36 a.m. See below.] Salesforce is joining forces with Tableau Software, announcing Monday it plans to acquire Seattle-based Tableau in an all-stock deal valued at $15.7 billion. The transaction would combine one of the world’s largest and best known sales-focused software vendors, San Francisco-based Salesforce, with one of the leading vendors of data visualization … Continue reading “Salesforce to Boost Analytics Suite With $15.7B Deal to Buy Tableau”
With Yale Tech and $12M, Artizan Aims for Root Cause of Gut Disease
A number of startups are targeting the gut microbiome as a way to potentially treat disease, but identifying specific microbes at the root of illness is a challenge. Although software that analyzes troves of biological data helps, the trillions of gut microbes make the research like looking for a needle in a haystack, says James … Continue reading “With Yale Tech and $12M, Artizan Aims for Root Cause of Gut Disease”
3 Tips to Boost Security, Trust With Increasingly Remote Workforce
Employers are increasingly offering remote work options as a differentiator to attract top talent in today’s competitive hiring market. And, with modern technology at their fingertips, employees have come to expect a seamless working experience whether they’re home, in the office, or on the road. These new expectations, coupled with the increase of contract and … Continue reading “3 Tips to Boost Security, Trust With Increasingly Remote Workforce”
Bio Roundup: ASCO Wrap, Bluebird’s EU Tap, CRISPR Baby Risk & More
Welcome to conference week. That’s not an official moniker, but is there any busier time on the biopharma calendar? As the American Society of Clinical Oncology meeting wrapped up in Chicago, the annual BIO conference kicked off in Philadelphia, and a deep dive into diabetes begins today in San Francisco. With half the biopharma world, … Continue reading “Bio Roundup: ASCO Wrap, Bluebird’s EU Tap, CRISPR Baby Risk & More”
Grail’s Cook Steps Down, Former Juno Executive Bishop Named CEO
Grail CEO Jennifer Cook has stepped down from the cancer diagnostics developer and its board of directors. Menlo Park, CA-based Grail said Thursday that Cook left due to “family health reasons.” Hans Bishop, a Grail director since last August, was appointed Cook’s successor in the chief executive role. He will also remain on Grail’s board. … Continue reading “Grail’s Cook Steps Down, Former Juno Executive Bishop Named CEO”
Synapse Banks $33M to Grow its Automated Back Office for Fintechs
Prominent venture capital firm Andreessen Horowitz (a16z) has jumped in to back San Francisco startup Synapse, which has assembled a plug-in infrastructure to process financial transactions for banks as well as fintech startups. Andreessen led a Series B fundraising round that yielded $33 million for Synapse, which handles payments from checking accounts and credit cards, … Continue reading “Synapse Banks $33M to Grow its Automated Back Office for Fintechs”
Cerf, Kahn, Perlman, Hillis & More at Net@50: Get Tix to Historic Event
How did the internet arise to change the world—and where is it heading? Given the state of technology and society, what are the best ways to curtail the spread of misinformation (among other challenges) and the harm it can bring? At the World Frontiers Forum and Xconomy, we can’t promise to cover everything, but we … Continue reading “Cerf, Kahn, Perlman, Hillis & More at Net@50: Get Tix to Historic Event”
Carmera Scores Lear Partnership, Adds Ex-Waymo Exec to Advisory Team
The month of May was big for Carmera, a startup in New York City developing high-definition maps for use in autonomous vehicles. The company rolled out a new development partnership with auto supplier Lear, and it landed a big name advisor and investor with Shaun Stewart, the former chief business officer of self-driving technology business … Continue reading “Carmera Scores Lear Partnership, Adds Ex-Waymo Exec to Advisory Team”
ASCO 2019: The Long Game, Targeted Pills, First-Ever Buzz & More
The American Society of Clinical Oncology meeting in Chicago has wrapped up for another year. Last week, we featured two stories that you wouldn’t find at the ASCO frenzy: Immunotherapy’s lack of progress in treating breast cancer, and one woman’s risky bet of tens of millions of dollars from her personal fortune to speed drug … Continue reading “ASCO 2019: The Long Game, Targeted Pills, First-Ever Buzz & More”
Apple Touts New Privacy Moves as Antitrust Probes Loom for Big Tech
Both the House leadership and the Trump administration are preparing to challenge the power of Google, Facebook, and other big tech companies by launching antitrust investigations into their allegedly anticompetitive business practices, as the Washington Post detailed it this week. But the growing concern about the pervasive control of tech giants in arenas such as … Continue reading “Apple Touts New Privacy Moves as Antitrust Probes Loom for Big Tech”
Highspot Snags $60M to Help Sales Professionals Refine Their Pitches
Highspot, a startup developing collaborative software for sales and marketing teams at large companies, announced Tuesday it has raised $60 million from investors. San Francisco-based Iconiq Capital led the Series D funding round, and was joined by new investor Sapphire Ventures, Highspot says. Other participants included return backers Madrona Venture Group, OpenView, Shasta Ventures, and … Continue reading “Highspot Snags $60M to Help Sales Professionals Refine Their Pitches”
Study: Gene Edits in CRISPR Babies Could Boost Risk of Earlier Death
The Chinese scientist He Jiankui, who revealed last fall that he used CRISPR gene editing to try to make twin newborn girls immune to HIV infection, might have also given them a higher risk of death. That’s according to a new study from University of California, Berkeley data scientists who analyzed the records of more … Continue reading “Study: Gene Edits in CRISPR Babies Could Boost Risk of Earlier Death”
LevelTen Energy Raises $20.5M to Facilitate Clean Power Purchases
LevelTen Energy, a startup that helps corporations make renewable energy purchases, has raised $20.5 million from investors. The Seattle-based company says it plans to use some of the new money to fund product development, make new hires, and expand into Europe. Prelude Ventures, a cleantech-focused venture firm based in San Francisco, led the Series B … Continue reading “LevelTen Energy Raises $20.5M to Facilitate Clean Power Purchases”
Bio Roundup: Opioids in Court, IPO Parade, Brain Cancer Bet & More
[Corrected 5/31/19, 8:48 am ET. See below.] Pharmaceutical companies that make or market opioids have found themselves in legal hot water, and much of the heat is coming from Oklahoma. This week, a trial began litigating Johnson & Johnson’s responsibility for opioid addiction in the Sooner State. Johnson & Johnson (NYSE: [[ticker:JNJ]]) entered the Norman, … Continue reading “Bio Roundup: Opioids in Court, IPO Parade, Brain Cancer Bet & More”
Quantum Computing 101: Brilliant, Google, Microsoft Training Workers
From Microsoft and IBM to Alphabet’s unit X and Canada’s D-Wave Systems, companies are racing to build powerful quantum computers that may solve problems beyond the capacity of the most sophisticated conventional processors, and do it much faster. It’ll be some years before such uber-computers are robust and reliable enough for broad commercial use. But … Continue reading “Quantum Computing 101: Brilliant, Google, Microsoft Training Workers”
Bristol Myers’ Mercier to Join Gilead as Chief Commercial Officer
Johanna Mercier has been appointed chief commercial officer of Gilead Sciences (NASDAQ: [[ticker:GILD]]). Mercier is joining the Foster City, CA, company from Bristol Myers Squibb (NYSE: [[ticker:BMY]]), where she was president and head of the company’s large markets division. Laura Hamill, Gilead’s executive vice president of worldwide commercial operations, is leaving the company. Mercier is … Continue reading “Bristol Myers’ Mercier to Join Gilead as Chief Commercial Officer”
With $35M, Whole Biome Eyes 2020 Launch of Medical Food for Diabetes
Diabetes treatments available today include shots and pills intended to restore the hormone balance that leads to healthy blood sugar levels. Whole Biome aims to accomplish the same thing—but with a capsule that targets the gut microbiome. Whole Biome is preparing to launch its product early next year. To support those plans, the San Francisco-based … Continue reading “With $35M, Whole Biome Eyes 2020 Launch of Medical Food for Diabetes”
Agenda Posted for Net@50 on July 16 at MIT Media Lab
Come celebrate milestones the internet has made over the past 50 years at a special event called Net@50 on July 16 in Cambridge, MA, organized by the World Frontiers Forum and Xconomy. An afternoon forum at the MIT Media Lab will explore the big issues and challenges surrounding the internet. And a gala dinner at … Continue reading “Agenda Posted for Net@50 on July 16 at MIT Media Lab”
Can Tiny Drug Doses (and One Woman’s Fortune) Fight the Most Vicious Cancer?
When the brain goes bad, modern medicine is often powerless to help. That’s the case for Alzheimer’s disease, where drug after drug has failed, and the only approved treatments are marginally helpful at best. The same seems increasingly clear for the most common and aggressive type of brain cancer, glioblastoma multiforme. Its origins are mysterious, … Continue reading “Can Tiny Drug Doses (and One Woman’s Fortune) Fight the Most Vicious Cancer?”
To Catch Early Cancer, and Rivals, Thrive Banks on Hopkins Blood Test
The earlier cancer is diagnosed, the better the odds of survival, and the race is on to detect the earliest traces of the disease from an otherwise healthy person’s blood sample. A new entrant in that race has emerged today. Thrive Earlier Detection has raised $110 million in financing from biotech investors Third Rock Ventures … Continue reading “To Catch Early Cancer, and Rivals, Thrive Banks on Hopkins Blood Test”
CrowdStrike IPO: Cybersecurity Firms Defend Themselves, and You
Of the many risks facing a cybersecurity company that’s trying to raise money through an initial public offering, here’s one that might surprise some investors: cyber attacks. Cybersecurity is important for everyone as hackers and governments continue to develop new and unique ways of stealing or compromising private information, which is more accessible than ever. … Continue reading “CrowdStrike IPO: Cybersecurity Firms Defend Themselves, and You”
OpenSesame Gets $28M as Job Training Software Market Stays Active
OpenSesame, a company developing workforce education and training software, announced Wednesday it has raised about $28 million from investors. Portland OR-based OpenSesame says in a news release that it plans to use some of the proceeds from the Series C round to offer more courses and fund sales and marketing of its products. FTV Capital, … Continue reading “OpenSesame Gets $28M as Job Training Software Market Stays Active”