It hasn’t been proven yet that synthetic messenger RNA molecules (mRNA) can be effective medicines. But their promise as a source for new vaccines, primarily for cancer, has enticed multiple pharmaceutical companies. The latest evidence comes from Sanofi, which just cut its second mRNA vaccine deal to date, this time with Translate Bio. Sanofi Pasteur, … Continue reading “With $45M Translate Bio Deal, Sanofi Bets Again on mRNA Vaccines”
Category: San Francisco
Toyota Sees Opportunity to Lead Industry on Safe Mobility Innovations
When a self-driving Uber car killed a pedestrian in Tempe, AZ, a few months ago, it shook up the mobility industry. The accident served as a gut check, and it sent already tenuous rates of consumer acceptance plummeting. One of the main benefits associated with driverless cars is safety, but it’s hard for riders to … Continue reading “Toyota Sees Opportunity to Lead Industry on Safe Mobility Innovations”
Data Centers on Wheels: How Intel Plans to Capitalize on Mobility
Intel sealed its commitment to become a player in the burgeoning autonomous vehicle industry when it bought computer vision company Mobileye for more than $15 billion in 2017. The venerable Santa Clara, CA-based chipmaker is betting that its data analytics and connectivity chops—as well as its semiconductors—combined with Mobileye’s computer vision and mapping functions, will … Continue reading “Data Centers on Wheels: How Intel Plans to Capitalize on Mobility”
Bio Roundup: Wrapping ASCO, Dreaming IPO, Rebooting Axovant & More
Most of the cancer news this week happened at the massive ASCO meeting in Chicago. But not all, as we’ll see in a moment. Also this week, Biogen and Eisai reported good news about an Alzheimer’s drug, but with plenty of caveats. Axovant Sciences, which hit the skids last year because of a massive Alzheimer’s … Continue reading “Bio Roundup: Wrapping ASCO, Dreaming IPO, Rebooting Axovant & More”
Double-Digit Funding Rounds for Fintech Startups BlueVine, Chime, Marqeta
[Updated 6/11/18, 11:13 am. See below.] A trio of Bay Area fintech companies announced fundraising rounds in the double-digit millions over the past week to help build out their alternative services in small business lending, consumer banking, and payment cards. Silicon Valley venture capital firm Menlo Ventures led two of the funding rounds. —BlueVine, an … Continue reading “Double-Digit Funding Rounds for Fintech Startups BlueVine, Chime, Marqeta”
Nimbus Nabs $65M to Advance In-House Drug Discoveries to the Clinic
Nimbus Therapeutics’ drugs have already found new homes with larger companies that aim to develop them into potential treatments for autoimmune and liver diseases. Selling its discoveries was a goal for Nimbus from its inception. But the Cambridge, MA, biotech has also been trying to forge its own identity framed around discoveries that it keeps … Continue reading “Nimbus Nabs $65M to Advance In-House Drug Discoveries to the Clinic”
ASCO Wrap: Cancer Combos, Precision Meds, Stock Movers & More
The American Society of Clinical Oncology annual meeting, the world’s largest cancer conference, wraps up today in Chicago. Investors have dissected the data, picked winners and losers, and sent some biotech stocks soaring and others tumbling. In the days before ASCO, Xconomy previewed two major themes: the feverish and flawed race to develop cancer immunotherapy … Continue reading “ASCO Wrap: Cancer Combos, Precision Meds, Stock Movers & More”
Biotech’s Looming Talent Crisis: 5 Ways to Prepare for the Storm
Finding and keeping great talent has always been a limiting factor for building companies—and even more so in the life science industry, which requires highly specialized skills. As an executive recruiter focused solely on life sciences, I know firsthand the challenges of filling key executive roles, and I’m often the first to see signs of … Continue reading “Biotech’s Looming Talent Crisis: 5 Ways to Prepare for the Storm”
E-Commerce Firm Rue La La Buys Fellow Flash-Sales Site Gilt Groupe
Two of fashion tech’s pioneering companies have come together. Rue La La, a flash-sale fashion site, announced Monday that it has purchased Gilt Groupe, a discount fashion and merchandise seller. Terms of the deal were not disclosed, but the two brands will operate independently, according to a press release. The merged company will be called … Continue reading “E-Commerce Firm Rue La La Buys Fellow Flash-Sales Site Gilt Groupe”
Portola Pharma CEO Bill Lis Plans to Retire from Company, Board
Portola Pharmaceuticals (NASDAQ: [[ticker:PTLA]]) CEO Bill Lis is retiring from the South San Francisco, CA, drug developer. Lis will also retire from Portola’s board of directors. The company said Lis will remain with the company through Aug. 1, and then step into an advisory role. John Curnutte, Portola’s executive vice president of research and development, … Continue reading “Portola Pharma CEO Bill Lis Plans to Retire from Company, Board”
Why Microsoft Bought GitHub for $7.5B, and What Developers Think
Since Satya Nadella took over as CEO of Microsoft in 2014, the company’s dedication to cloud computing and developer-focused software products has been palpable. Nadella was executive vice president of Microsoft’s cloud and enterprise group before taking the helm of the entire business. And revenues for the company’s cloud computing services, such as Microsoft Azure, … Continue reading “Why Microsoft Bought GitHub for $7.5B, and What Developers Think”
Xconomy’s Napa Summit Is June 14-15: Last Call for Invites
Just 10 days to go—but it’s not too late to request your invitation to Xconomy’s most unique and thought-provoking event of the year: our annual Napa Summit: The Xconomy Retreat on Technology, Jobs, and Growth. We only have a few spots left open, so get your wine on and request your invitation today. You will … Continue reading “Xconomy’s Napa Summit Is June 14-15: Last Call for Invites”
Price Check on Aisle 3: Retailers Turn to Robots to Manage Inventory
Inventory management is crucial to operating a successful retail operation. And as hard as it may be to believe, retailers “don’t really know what’s on the shelves,” says Sarjoun Skaff, founder and CTO of Bossa Nova Robotics. A combination of the sheer number of products a retailer like Walmart has on offer and the pace … Continue reading “Price Check on Aisle 3: Retailers Turn to Robots to Manage Inventory”
Loxo Unveils More Data, Paves a Path Forward In Precision Oncology
An experimental cancer drug from Loxo Oncology has shown early signs that it might impact multiple tumor types, regardless of where in the body they originated. The clinical results come with caveats, but they add to a slowly growing body of evidence supporting so-called tumor “agnostic” drugs, which are markers for the progress of precision … Continue reading “Loxo Unveils More Data, Paves a Path Forward In Precision Oncology”
Drug Price Watchdog ICER Deems Amgen Migraine Drug “Cost-Effective”
As Amgen approached an FDA decision last month for its migraine-prevention treatment, concern mounted that the drug would come at premium. In setting a price thousands of dollars less than expected, Amgen has won over one of the pharmaceutical industry’s fiercest drug price critics. The non-profit Institute for Clinical and Economic Review (ICER) assessed the … Continue reading “Drug Price Watchdog ICER Deems Amgen Migraine Drug “Cost-Effective””
Biotech Roundup: ASCO Ahead, CAMP4’s Cash, Ambien Tweeting & More
For the next five days, the oncology community’s attention will focus on Chicago. The Windy City is the home for the American Society of Clinical Oncology’s annual meeting, and it kicks off today. Many ASCO attendees will zero in on potential cancer drug combinations. They’re seen as the key to expanding the reach of caner … Continue reading “Biotech Roundup: ASCO Ahead, CAMP4’s Cash, Ambien Tweeting & More”
Japan’s SoftBank Pours $2.5B into GM’s Self-Driving Division
General Motors’ stock price was cruising after news broke this morning that Japanese holding company SoftBank has invested $2.25 billion into the automaker’s driverless vehicle division. Once the deal closes, GM (NYSE: [[ticker:GM]]) will reportedly invest an additional $1.1 billion. According to multiple news outlets, Cruise, GM’s autonomous car operation, is now expected to have … Continue reading “Japan’s SoftBank Pours $2.5B into GM’s Self-Driving Division”
Drugs OK’d To Hit Tumor Genes Still a Basket of One. Are More Coming?
[Corrected 6/4/18, 1:53 a.m. ET. See below.] One year ago, the FDA made biomedical history. A cancer drug, pembrolizumab (Keytruda), was approved to treat tumors with a specific genetic fingerprint regardless of their location in the body. It was the first tissue-agnostic approval of a cancer drug, and it was a big shift for the … Continue reading “Drugs OK’d To Hit Tumor Genes Still a Basket of One. Are More Coming?”
Engine Bio Hires Stephen Harrison as Chief Scientific Officer
Drug discovery startup Engine Biosciences has named Stephen Harrison chief scientific officer and senior vice president of the San Francisco company. Harrison most recently worked at Relypsa in Redwood City, CA, where he was chief scientific officer. His experience also includes positions at Nektar Therapeutics (NASDAQ: [[ticker:NKTR]]), KAI Pharmaceuticals, Chiron, and Thios. Engine Biosciences, which … Continue reading “Engine Bio Hires Stephen Harrison as Chief Scientific Officer”
CAMP4 Hauls in $30M to Map New Ground with Drug Discovery Tech
One way to understand the role genes play in disease is to think of the cells in our bodies as electronic circuits. The signaling pathways that either turn a cell’s genes on or off are like wires laid out to the nucleus of the cell, says Josh Mandel-Brehm, CEO of CAMP4 Therapeutics. Cambridge, MA-based CAMP4 … Continue reading “CAMP4 Hauls in $30M to Map New Ground with Drug Discovery Tech”
Insurers Are (Slowly) Preparing for Future World of Driverless Cars
When a self-driving Uber vehicle killed a pedestrian attempting to cross a dark, Phoenix-area street in March, it served as a wake-up call to a mobility industry moving at a furious pace to advance autonomous vehicle technologies. The fatality reinforced consumer skepticism of driverless cars, as evidenced by a recent survey conducted by CarGurus (more … Continue reading “Insurers Are (Slowly) Preparing for Future World of Driverless Cars”
IDO Don’ts: After Immunotherapy Failure, Experts Say Slow Down
One year ago, on the eve of the yearly American Society of Clinical Oncology conference, a new class of drugs called IDO inhibitors seemed poised to become the next big thing in cancer care. They were a top choice to combine with the powerful but limited immunotherapies that have emerged this decade to fight many … Continue reading “IDO Don’ts: After Immunotherapy Failure, Experts Say Slow Down”
Smart-Kitchen Startups Give Cooks Digital Help Via Internet of Things
When it comes to connected homes, the hottest spot is located in your kitchen. The Internet of Things, artificial intelligence, and related technologies are being used to connect ovens, refrigerators, and other kitchen appliances to the Web. Feeling unsure about cooking that fish dish? Smart ovens can more accurately calibrate temperatures to avoid over-cooking. There’s … Continue reading “Smart-Kitchen Startups Give Cooks Digital Help Via Internet of Things”
Roche Up, J&J Down as Cancer Drug Combos Yield More Mixed Results
Clinical testing of drug combinations that utilize cancer immunotherapies rolled on this weekend with mixed results. One Phase 3 study from Roche/Genentech in lung cancer succeeded, while another from Genmab and partner Johnson & Johnson spelled trouble for another possible drug combination. Roche’s South San Francisco, CA, Genentech unit said its IMpower130 study, which combines … Continue reading “Roche Up, J&J Down as Cancer Drug Combos Yield More Mixed Results”
Rare Disease Biotechs Avrobio, Eidos Therapeutics File for IPOs
Avrobio and Eidos Therapeutics, rare disease drug developers on opposite sides of the country, have filed for initial public offerings, each company aiming to raise cash to finance more clinical tests of its lead drug. Cambridge, MA-based Avrobio set a preliminary $86 million target for its IPO, according to its prospectus filed Friday. The gene … Continue reading “Rare Disease Biotechs Avrobio, Eidos Therapeutics File for IPOs”
Mitek Systems Building New Business in Verifying Online Identities
A few years before the presidential election of 2016, with all its Wikileaks, Russian disinformation campaigns, and phony Facebook links, San Diego’s Mitek Systems (NASDAQ: [[ticker:MITK]] made a strategic decision to expand into identity verification technology. Funny how things work out. While mobile banking technology still represents 60 percent of Mitek’s business, COO Kalle Marsal … Continue reading “Mitek Systems Building New Business in Verifying Online Identities”
Bio Roundup: Brii Does China, Hemophilia Updates, Right to Try & More
Sometimes disruption comes in waves. Since the 1990s, hemophilia patients have had to inject themselves with drugs a few times a week to prevent dangerous internal bleeding. That could soon change. One drug already approved, from Roche, may only need to be taken once a month by hemophilia A patients. Another experimental therapy from Alnylam … Continue reading “Bio Roundup: Brii Does China, Hemophilia Updates, Right to Try & More”
Pfizer, Merck Lead Strata Oncology’s $26M Series B Round
In what company leaders describe as a “huge step,” Ann Arbor, MI-based precision medicine startup Strata Oncology this week closed a $26 million Series B investment round led by Pfizer Ventures and the Merck Global Health Innovation Fund. Other contributors to the round include Deerfield Management, Renaissance Venture Capital Fund, Arboretum Ventures, and Baird Capital. … Continue reading “Pfizer, Merck Lead Strata Oncology’s $26M Series B Round”
Request Your Invite for Our Napa Summit, June 14-15
In two and a half weeks, Xconomy will host our seventh annual Napa Summit: The Xconomy Retreat on Technology, Jobs, and Growth. In the heart of California’s wine country, it is our most exclusive, intimate, and unique conference. There are only a few tickets left—so request your invitation today to join fellow exemplary executives, innovators, … Continue reading “Request Your Invite for Our Napa Summit, June 14-15”
Biotech IPOs Roll On as Kiniksa, Scholar Rock Get $227M Combined
The IPO window remains wide open for biotechs. Two more, Kiniksa Pharmaceuticals and Scholar Rock, make their Wall Street debuts this morning having raised $227 million combined in their IPOs last night. Kiniksa exceeded its funding goals. The Lexington, MA, company sold 1.44 million more shares than it projected, or 8.44 million total, at $18 … Continue reading “Biotech IPOs Roll On as Kiniksa, Scholar Rock Get $227M Combined”
Brii Biosciences Debuts with a China Pharma Strategy Backed by $260M
Growing up in China, Zhi Hong saw the healthcare challenges of his homeland firsthand. Despite the country’s economic strides, life science innovation there lags advances made in the West, he says. The GlaxoSmithKline veteran now wants to use his experience to adjust the balance. Backed by $260 million in financing, his startup, Brii Biosciences, plans … Continue reading “Brii Biosciences Debuts with a China Pharma Strategy Backed by $260M”
A.I. for Healthcare Gets Even More Crowded as GV Invests in Owkin
More money continues to flow into startups seeking to harness the massive amount of data available in healthcare using artificial intelligence and machine learning. This time, GV, the venture capital arm of Google parent Alphabet, is adding about $7 million to the Series A round for Owkin, bringing its total funding to $18 million. Owkin, … Continue reading “A.I. for Healthcare Gets Even More Crowded as GV Invests in Owkin”
Superpedestrian Scoops Up $16.5M, Enters Bike-Sharing Frenzy
Bike sharing is the new ride hailing. Similar to what has played out with Uber, Lyft, Didi Chuxing, and other private car-hailing app companies, investors are pumping hundreds of millions of dollars into bike-sharing startups around the world racing to be the leading operator of fleets of bicycles that people can rent on demand. The … Continue reading “Superpedestrian Scoops Up $16.5M, Enters Bike-Sharing Frenzy”
Five Prime Promotes Bryan Irving to Chief Scientific Officer
Bryan Irving is now executive vice president and chief scientific officer of Five Prime Therapeutics (NASDAQ: [[ticker:FPRX]]). Irving first joined South San Francisco-based Five Prime last year as vice president of research. His experience also includes posts at CytomX Therapeutics (NASDAQ: [[ticker:CTMX]]) and Genentech. Clinical-stage Five Prime develops protein therapies to treat cancer and inflammatory … Continue reading “Five Prime Promotes Bryan Irving to Chief Scientific Officer”
Amid Housing Boom, Hometap Raises $12M to Buy a Piece of Your Home
[Updated 5/23/18, 9:40 am. See below.] Jeff Glass is back in the CEO chair at a startup, and this time he’s venturing into one of the oldest and, at the moment, hottest industries: real estate. Glass is an entrepreneur and investor who is well-known in Boston tech circles for leading m-Qube, the mobile content-delivery company … Continue reading “Amid Housing Boom, Hometap Raises $12M to Buy a Piece of Your Home”
CAR-T’s Launch, Payers vs. Gene Therapy & Photos From “What’s Hot”
CAR-T. Gene therapy. RNA interference. These aren’t just science experiments. They’re real, cutting-edge medicines either just on the market or soon to be. And the implications of their arrival was the focus of a few spirited discussions at Xconomy’s “What’s Hot in Boston Biotech” event last week at the Broad Institute in Cambridge, MA. Today, … Continue reading “CAR-T’s Launch, Payers vs. Gene Therapy & Photos From “What’s Hot””
Seeking Firmer Grip on E-Commerce Market, Adobe Buys Magento
Adobe has made a big bet emphasizing the “shop” part of its best-known product. The maker of the Photoshop suite of software announced late Monday it is buying fellow Bay Area firm Magento Commerce for $1.68 billion to gain a larger foothold in the growing e-commerce industry, which is now dominated by Salesforce and Oracle … Continue reading “Seeking Firmer Grip on E-Commerce Market, Adobe Buys Magento”
ORIC Pharmaceuticals Appoints Jacob Chacko CEO
Jacob Chacko has joined ORIC Pharmaceuticals to become the cancer drug developer’s CEO. Rich Heynman, who had been interim CEO, will now become chairman of the San Francisco company’s board of directors. Chacko was most recently chief financial officer of Ignyta, which was acquired by Roche earlier this year. ORIC, which stands for “overcoming resistance … Continue reading “ORIC Pharmaceuticals Appoints Jacob Chacko CEO”
Mobileye Sets Safety-Based Rules of the Road for Self-Driving Tech
It’s been a busy year for Jerusalem-based Mobileye since Intel (NASDAQ: [[ticker:INTC]]) completed its $15.3-billion acquisition of the Israeli specialist in autonomous navigation technology. In a recent update, Mobileye co-founder and CTO Amnon Shashua said the company has almost doubled its workforce since the buyout. It plans to begin testing its self-driving technology in California … Continue reading “Mobileye Sets Safety-Based Rules of the Road for Self-Driving Tech”
Data Could Make Roche Drug a Hemophilia Standard, But for How Long?
It’s been a bumpy ride for emicizumab (Hemlibra) in 2018. The Roche/Genentech drug, approved by the FDA in late 2017, has a chance to become the choice treatment for people with hemophilia A, and new data today help that case. But will safety concerns and emerging competition blunt its rise? At the World Federation of … Continue reading “Data Could Make Roche Drug a Hemophilia Standard, But for How Long?”
Microsoft Snaps Up Semantic Machines to Push Conversational A.I.
[Updated 5/21/18, 3:16 pm. See below.] Microsoft said it has acquired “conversational A.I.” startup Semantic Machines, as it tries to bolster its artificial intelligence capabilities in its longstanding competition with Google, Apple, Amazon, Baidu, and other tech leaders. The purchase price wasn’t disclosed in a Microsoft blog post announcing the deal on Sunday. Semantic Machines … Continue reading “Microsoft Snaps Up Semantic Machines to Push Conversational A.I.”
Fixing the Clinical Trial Bottleneck by Making Patients a Priority
The world of medicine and drug development has transformed dramatically over the past 50 years. Today, we have biologic medicines, genomic sequencing technologies, and digital health tools that help patients become more engaged in their care. But one part of the equation hasn’t seen very much change at all: clinical trials. Clinical trials are a … Continue reading “Fixing the Clinical Trial Bottleneck by Making Patients a Priority”
U-M Students, Faculty Building Driverless Shuttle with Industry Help
Late last month, the University of Michigan-Dearborn unveiled a new autonomous shuttle project called MDAS.ai, in which students and faculty will build a driverless vehicle for low-speed, pedestrian-filled environments. Made possible through a collective $100,000 contribution from Osram Opto Semiconductors, Phantom Intelligence, Jungo Connectivity, and Vergence Automation, the project is designed to help students, researchers, … Continue reading “U-M Students, Faculty Building Driverless Shuttle with Industry Help”
6 Simple Steps to Avoid Becoming a Cybercrime Statistic in 2018
We can all agree that 2017 was a brutal year for cybersecurity. Verizon’s Data Breach Investigation Report identified passwords as the root cause of more than 81 percent of breaches in 2016 – an 18 percent increase from the previous year. And, it’s a safe guess that this year, the percentage will grow. At last … Continue reading “6 Simple Steps to Avoid Becoming a Cybercrime Statistic in 2018”
Bio Roundup: ASCO Abstracts, Migraine Drug Prices & “Blueprint” Fallout
There’s nothing abstract about a 20 percent jump in a company’s stock price. But yeah, that happened to Loxo Oncology when it released data previews for its American Society for Clinical Oncology presentations; the meeting starts in two weeks in Chicago. Wednesday was ASCO abstract day, and we’ll round up the headliners below, all with … Continue reading “Bio Roundup: ASCO Abstracts, Migraine Drug Prices & “Blueprint” Fallout”
Accent Therapeutics Debuts With $40M To Target RNA Modification
The story of how genes are regulated has gotten a whole lot more complicated in recent years. Scientists, using ever-improving sequencing technologies, are discovering the many ways the cell can turn gene activity up or down. With this growing insight comes an expanding list of potential drug targets and biotech startups that are going after … Continue reading “Accent Therapeutics Debuts With $40M To Target RNA Modification”
Amgen Migraine Drug Gets FDA Nod, First in New Class of Medicines
[Updated 5/18/18, 8:38 a.m. See below.] An Amgen migraine drug developed to head off pain before it starts has won FDA approval, the first for a new class of preventive drug candidates for the condition. The Amgen (NASDAQ: [[ticker:AMGN]]) drug, erenumab (Aimovig), is a subcutaneous injection given once a month. The drug blocks the receptor … Continue reading “Amgen Migraine Drug Gets FDA Nod, First in New Class of Medicines”
Arevo Adds $12.5M to Expand 3D Printing into Manufacturing
[Updated 5/17/18, 9:45 am. See below.] Silicon Valley company Arevo, which competes with a growing number of rivals to transform 3D printing into a tool for mass manufacturing, announced today it raised $12.5 million in a Series B financing round. Arevo’s technology mix—which combines automated printing equipment with Web-based software and customized raw materials—exemplifies the … Continue reading “Arevo Adds $12.5M to Expand 3D Printing into Manufacturing”
Amgen Migraine Decision Looms, Maybe the Next Drug Price Fight, Too
For some migraine sufferers, bright lights or loud sounds are enough to touch off an attack. For others, stress sparks the onset of pain. Bright lights, loud sounds, stress: Migraine triggers vary from one patient to another. But a common element is the abundance of a pain-inducing protein in the blood. During a migraine attack, … Continue reading “Amgen Migraine Decision Looms, Maybe the Next Drug Price Fight, Too”
Verdine Picks Backers For FogPharma’s $66M Round, Keeping Firm Control
At first blush, the $66 million Series B round that startup FogPharma is announcing this morning seems standard fare, particularly this year, when private biotechs have raised gobs of cash hand over fist. But a closer look shows careful steps by an academic-turned-executive, Greg Verdine, to develop the type of company he wants. He’s amassed … Continue reading “Verdine Picks Backers For FogPharma’s $66M Round, Keeping Firm Control”