Category: San Francisco

Two ZS Pharma Execs Picked for Allakos Management Team

Robert Alexander has been named CEO of San Carlos, CA, drug developer Allakos. Alexander most recently served as CEO of Coppell, TX-based ZS Pharma, a subsidiary of AstraZeneca (NYSE: [[ticker:AZN]]). Before joining ZS Pharma, Alexander was a director at Alta Partners, a venture capital firm. Allakos is developing therapeutic antibody drugs to treat allergic and … Continue reading “Two ZS Pharma Execs Picked for Allakos Management Team”

Bio Roundup: Frazier v. Trump, Data Dumps, New York Steps & More

The CEO of a major U.S. pharmaceutical company was in the news this week, but for a change not because of the cost of drugs. Merck CEO Kenneth Frazier (pictured) was the first of what quickly became a line of CEOs to exit President Trump’s manufacturing council, leading to its dissolution altogether. Frazier was widely … Continue reading “Bio Roundup: Frazier v. Trump, Data Dumps, New York Steps & More”

Expanding Tissue and Squeezing Cells: Meet Xconomy’s Young Innovator Award Finalists

The finalists in the Young Innovator category of the 2017 Xconomy Awards show that it’s never too early in life to start a company or invent a new technology. These four individuals (30 years of age or under) share a strong drive, even a restlessness, to build new things that make a difference. Three knew … Continue reading “Expanding Tissue and Squeezing Cells: Meet Xconomy’s Young Innovator Award Finalists”

Ripcord Raises Another $40M To Digitize Mounds of Paper Records

Ripcord, which raised $9.5 million in March, says it has landed another $40 million to expand the ranks of its robotic “workcells” that convert piles of paper documents into searchable digital records. The Hayward, CA-based startup uses automation, high-resolution cameras, and optical character recognition software to try to speed up the digitization process and reduce … Continue reading “Ripcord Raises Another $40M To Digitize Mounds of Paper Records”

On the Hudson, Two Developers Open NYC’s Latest Bio Startup Space

Two real estate developers, Taconic Investment Partners and Silverstein Properties, have unveiled plans to bring about 150,000 square feet of new wet lab space online on the West Side of Manhattan, the latest effort in an ongoing quest in New York City to provide startup biotech companies a local home to form and grow. Taconic … Continue reading “On the Hudson, Two Developers Open NYC’s Latest Bio Startup Space”

Private Equity Investors Have $740 Billion to Spend, Driving Valuations

Private equity investors have more capital at their disposal than at any time in more than a decade, which could boost prices for companies seeking acquisitions. As of Aug. 1, private equity firms in North America and Europe had secured $212.6 billion in new commitments this year, on pace to eclipse the “already stellar” fundraising … Continue reading “Private Equity Investors Have $740 Billion to Spend, Driving Valuations”

Latest Immunotherapy Setback: Bristol Drugs Stumble in Kidney Cancer

The recent stumbles for cancer immunotherapy—specifically, combinations of treatments meant to help boost its effectiveness—continued late Tuesday with some disappointing news from one of the leaders in the field, Bristol-Myers Squibb. Bristol (NYSE: [[ticker:BMY]]) said that a Phase 3 trial testing two of its immunotherapies together in newly diagnosed kidney cancer patients, a study called … Continue reading “Latest Immunotherapy Setback: Bristol Drugs Stumble in Kidney Cancer”

PARC Spinout Metawave Adds A.I. to Metamaterials for Autonomous Cars

A serial entrepreneur in the field of metamaterials is building a new company to develop the technology for use in autonomous vehicles and wireless communications. Maha Achour co-founded Metawave early this year, spinning the company out of the storied PARC laboratories, a unit of Xerox, in Palo Alto, CA, with an exclusive license to commercialize … Continue reading “PARC Spinout Metawave Adds A.I. to Metamaterials for Autonomous Cars”

Letter To Uber Staff: Benchmark Says It Should Have Sued Ex-CEO Sooner

Silicon Valley venture capital firm Benchmark, one of the Uber investors that pressured Uber CEO Travis Kalanick to step down as CEO in June due to company leadership failures, issued an open letter to the company’s employees today explaining why it sued Kalanick last week. Benchmark says Kalanick failed to honor his written promise, made … Continue reading “Letter To Uber Staff: Benchmark Says It Should Have Sued Ex-CEO Sooner”

SoftBank-Backed Altaeros Wants Blimps to Deliver “SaaS in the Sky”

More than 4 billion people around the world lack Internet access, and some tech giants and small startups are betting the solution will come from floating or flying broadband-beaming equipment in the sky. It’s still unclear whether that strategy will, uh, take off. But the investment in this emerging sector is certainly growing. The latest … Continue reading “SoftBank-Backed Altaeros Wants Blimps to Deliver “SaaS in the Sky””

Dragonfly, eGenesis, Spero & More: Xconomy’s Startup Award Finalists

Startups play a critical role in the innovation economy that we chronicle at Xconomy—transforming new ideas that begin in a lab into the products and companies of tomorrow. No surprise, then, that the startup category in our first-ever Awards program was a particularly competitive one, loaded with private companies (no more than 5 years old) … Continue reading “Dragonfly, eGenesis, Spero & More: Xconomy’s Startup Award Finalists”

Ophthotech’s Final Try at Combo Eye Drug Comes up Short

It wasn’t too long ago that Ophthotech was running a group of clinical trials being perhaps as closely watched as any in the ophthalmology field, studies that had a chance to change the way a common form of vision loss, age-related macular degeneration (AMD), is treated. But those days are a distant memory now. All … Continue reading “Ophthotech’s Final Try at Combo Eye Drug Comes up Short”

Kauffman Fellows Take On VC Sexual Harassment, Bench Mentor McClure

If you’re looking for a counterpoint to the recent flurry of news stories about sexual harassment and gender bias in the tech sector, the Kauffman Fellows program isn’t a bad place to start. The Palo Alto, CA-based program, a spinoff of the Ewing Marion Kauffman Foundation, has been a gateway into the venture capital industry … Continue reading “Kauffman Fellows Take On VC Sexual Harassment, Bench Mentor McClure”

Bio Roundup: $1B Deals, Data Bumps, Acorda’s Lumps, Generic OKs & More

With President Trump holed up in New Jersey, rattling his saber at Kim Jong-un and Mitch McConnell and ignoring his own commission’s advice on the opioid crisis, there was still life sciences news from the nation’s capital. The FDA reported that generic drug approvals are set to hit a record; the agency under Commissioner Scott … Continue reading “Bio Roundup: $1B Deals, Data Bumps, Acorda’s Lumps, Generic OKs & More”

Tech Hiring Trends: Buzzwords, Trump Effect, and Gender-Pay Gap

As the tech economy continues its historic boom, here’s three views of labor market trends released this week, including the rise and fall of buzzwords in engineering job postings; the Trump Administration’s impact on U.S. companies’ interest in foreign workers; and another disappointing look at the gender-pay gap. —In the last two years, big data … Continue reading “Tech Hiring Trends: Buzzwords, Trump Effect, and Gender-Pay Gap”

Pacira Pharmaceutical’s Scibetta Joins Maverick Therapeutics as CEO

James Scibetta has joined Maverick Therapeutics as CEO and member of the Brisbane, CA, biotech’s board of directors. Scibetta comes to Maverick from Parsippany, NJ-based Pacira Pharmaceuticals (NASDAQ: [[ticker:PCRX]]), where he was president. Earlier this year, Takeda Pharmaceutical signed Maverick on to a five-year, $125 million partnership pursuing new cancer immunotherapies.

Why We All Should Care About the Recent Brouhaha at Google

The issues raised by the 10-page memo on the suitability of women for certain engineering and leadership positions at Google (culminating in the firing of its author) have implications for all of us. They are as much about the requirements for success in today’s workplace—and how to identify and nurture those qualities in all employees—as they … Continue reading “Why We All Should Care About the Recent Brouhaha at Google”

Celgene Narrows Its Relationship With Sutro, No Acquisition Coming

Celgene (NASDAQ: [[ticker:CELG]]) is revamping its relationship with Sutro Biopharma, walking away from an option to acquire the privately held antibody drug developer but keeping potential rights to four of Sutro’s programs—none of which have yet reached clinical studies. Their first deal was in 2012, and they expanded it two years later with Celgene taking … Continue reading “Celgene Narrows Its Relationship With Sutro, No Acquisition Coming”

Startup Builders, IPO Closers & More: Meet Xconomy’s CEO Award Finalists

There are many ways to stand out as a biotech CEO, from getting a company started in the first place to pushing its first drug over the finish line. Those differences are what we noticed when going through the nominations from you, the readers, for the top Boston biotech CEO, as part of the first-ever … Continue reading “Startup Builders, IPO Closers & More: Meet Xconomy’s CEO Award Finalists”

Athena Survey Probes Gender Issues in San Diego Innovation Ecosystem

A San Diego survey on professional women working in tech and life sciences offers some insights on the recurring debate over gender diversity in venture-backed startups and big companies, as well as a related incident that boiled over this week at Google. When asked, “What do you aspire to be, professionally?” nearly 29 percent of … Continue reading “Athena Survey Probes Gender Issues in San Diego Innovation Ecosystem”

For Parkinson’s, Two New Drugs Coming As Prevail Gets Started in NY

A drug that actually slows or reverses the brain damage inflicted by Parkinson’s disease, rather than just alleviates its often debilitating symptoms, remains elusive. But Prevail Therapeutics, a startup just launched in New York, has become the latest to try. This morning, the Silverstein Foundation, a nonprofit organization formed by OrbiMed partner Jonathan Silverstein, announced … Continue reading “For Parkinson’s, Two New Drugs Coming As Prevail Gets Started in NY”

The Fired Google Engineer, the First Amendment, and the Alt-Right

Google software engineer James Damore confirmed to Bloomberg on Monday that Google fired him for circulating a lengthy memo on his views that women are biologically less suited to tech work than men. His “manifesto” was spread through Google’s internal communication channels over the weekend, and obtained by Gizmodo and other tech publications. Damore expressed … Continue reading “The Fired Google Engineer, the First Amendment, and the Alt-Right”

Experimental Drug With San Antonio Roots Changes Home After Merger

San Antonio — Galena Biopharma, a Bay Area biotech that has been developing a cancer vaccine created by a San Antonio researcher, is merging with another immunotherapy company: Sellas Life Sciences Group, which will also be the name of the combined business. Sellas Life Sciences is developing multiple experimental cancer immunotherapies, including a treatment for … Continue reading “Experimental Drug With San Antonio Roots Changes Home After Merger”

Dermira Commits $135M for Global Rights to Roche Eczema Drug

Skin treatments developer Dermira is adding another experimental drug to its pipeline that it plans to test as a potential treatment for eczema, through a deal announced this morning with healthcare giant Roche. But in picking up the global rights to lebrikizumab, Menlo Park, CA-based Dermira (NASDAQ: [[ticker:DERM]]) is entering a suddenly crowded field of … Continue reading “Dermira Commits $135M for Global Rights to Roche Eczema Drug”

Pro.com Becomes a ‘Tech-Enabled General Contractor,’ Raises $10M

Finding someone to repair, remodel, or build your home—the largest asset most people will ever own—is fraught. For years, technology companies such as Angie’s List and HomeAdvisor have been trying to help, with varying degrees of success, by matching homeowners with vetted, reviewed service professionals. Seattle has seen its share of companies pursue a version … Continue reading “Pro.com Becomes a ‘Tech-Enabled General Contractor,’ Raises $10M”

An Insider’s Guide to Bridging the Biotech Gender Gap

As an executive recruiter focused solely on life sciences, I’m among the first to acknowledge the industry’s gender gap. Of the 20 largest pharmaceutical companies around the world, only one has a woman at the helm—and GSK named Emma Natasha Walmsley as CEO less than five months ago. Among biotech executive leadership teams, women make … Continue reading “An Insider’s Guide to Bridging the Biotech Gender Gap”

MyoKardia Heart Drug Boosts Blood Flow, Sends Shares Soaring

Early clinical trial data for an experimental MyoKardia drug developed to treat a potentially fatal cardiovascular disorder are showing promise, results that now have the company preparing for a larger study to support FDA approval. South San Francisco, CA-based MyoKardia (NASDAQ: [[ticker:MYOK]]) is testing the drug, mavacamten in patients who have a potentially deadly form … Continue reading “MyoKardia Heart Drug Boosts Blood Flow, Sends Shares Soaring”

Presence Capital Takes the Temperature of VR/AR at Mid-Year

This week we checked in with Presence Capital, a San Francisco-based venture capital firm that specializes in virtual reality and augmented reality startups. Presence, which made its first investment in July 2015, has now invested in 33 companies, including VR animation studio Baobab; Strivr, a creator of VR training systems; Meta, the developer of a … Continue reading “Presence Capital Takes the Temperature of VR/AR at Mid-Year”

Robot Startup Auris Reels In $280M for Less Invasive Lung Surgery

Auris Surgical Robotics has kept a tight lid on the details about its technology, its surgical targets, and its financial backers. On Friday, the stealthy startup gave a small peek at all three. San Carlos, CA-based Auris has raised $280 million in a Series D round of financing, the company revealed on its website. The … Continue reading “Robot Startup Auris Reels In $280M for Less Invasive Lung Surgery”

Report: Martin Shkreli Faces Prison Term After Fraud Conviction

After days of deliberation, a New York jury Friday afternoon found Martin Shkreli guilty of securities fraud. According to a report from CNBC, the jury in the civil case said that Shkreli is guilty on three of eight counts, two of which are securities fraud and the other conspiracy to commit securities fraud. Shkreli, according … Continue reading “Report: Martin Shkreli Faces Prison Term After Fraud Conviction”

Bio Roundup: CRISPR Advances, Obamacare Lives, FDA Nods & More

Gene editing took an important step this week when a group of U.S. researchers used CRISPR-Cas9 technology to correct a genetic error in dozens of human embryos without complications. It’s a significant achievement, but amidst the hype, it’s worth cautioning just how much work has to be done before the technology leads to a safe … Continue reading “Bio Roundup: CRISPR Advances, Obamacare Lives, FDA Nods & More”

After VR’s Shortcomings, Walmart’s Interest in Cube May Be a Boost

San Antonio—Virtual reality has certainly been a hyped industry during the last few years, though it recently gathered a little backlash because of unfulfilled expectations and the recent failure of a Silicon Valley startup. But a deal announced earlier this week indicates that the world’s largest company by revenue still believes in it. San Antonio-based … Continue reading “After VR’s Shortcomings, Walmart’s Interest in Cube May Be a Boost”

IFM Gets $300M Bristol Buyout, Plans Second Strike With New Spinout

Bristol-Myers Squibb this afternoon is acquiring a young startup, IFM Therapeutics, in an unusual deal that will also see the big drugmaker get a chance to own rights in a new company the biotech is spinning out as well. New York-based Bristol (NYSE: [[ticker:BMY]]) will pay $300 million up front for IFM, which will give … Continue reading “IFM Gets $300M Bristol Buyout, Plans Second Strike With New Spinout”

Dramatic Capital Inflows Continue in 2Q17… Trouble Ahead?

In an environment of microscopic interest rates, it is particularly interesting to read the Preqin 2Q17 Quarterly Update, which exhaustively tracks all things private equity and venture capital. At the end of June 2017 there were 1,998 funds in market raising a total of $676 billion – a staggering sum – indicative of global investors … Continue reading “Dramatic Capital Inflows Continue in 2Q17… Trouble Ahead?”

Veritas Buys Curoverse to Bring A.I. Analysis of Genes to the Masses

Some answers to questions about the risk of developing a disease or a bad reaction to a drug can be found by analyzing a patient’s genes. In the not-too-distant future, such queries could be as easy as searching for and selecting a movie on Netflix, contends Rodrigo Martinez, chief marketing and design officer for Veritas … Continue reading “Veritas Buys Curoverse to Bring A.I. Analysis of Genes to the Masses”

Clinc’s A.I. Lets USAA Members Casually Chat with Their Bank Accounts

Ever wanted to casually talk to your bank account and find out how much money you have in checking, or what your restaurant spending looked like a year ago? If you’re a member of USAA, the financial institution serving members of the U.S. military, and have an Amazon Alexa device, now you can. Clinc, the … Continue reading “Clinc’s A.I. Lets USAA Members Casually Chat with Their Bank Accounts”

Grail Names Chairman Bill Rastetter to Chief Executive Post

Bill Rastetter, chairman of cancer diagnostics developer Grail, has added the role of chief executive to his responsibilities at the Menlo Park, CA, company. With Rastetter’s appointment, Grail founding CEO Jeff Huber will become vice chairman of the board of directors. Grail also promoted chief business officer Ken Drazan to president. Grail spun out from … Continue reading “Grail Names Chairman Bill Rastetter to Chief Executive Post”

Amgen’s Roger Sidhu Joins Cell Design Labs as Chief Medical Officer

Roger Sidhu has been appointed chief medical officer of Emeryville, CA-based Cell Design Labs. Sidhu most recently worked at Amgen (NASDAQ: [[ticker:AMGN]]), where he was global product general manager. His responsibilities there encompassed Amgen’s early-stage immune-oncology compounds. Cell Design Labs, which is based on research of Wendell Lim, a professor of cellular and molecular pharmacology … Continue reading “Amgen’s Roger Sidhu Joins Cell Design Labs as Chief Medical Officer”

Homology Med Bags $83.5M More, Fueling Push For Gene Editing Twist

One day after the release of a Nature Medicine paper warning of the potential hazards of testing CRISPR-Cas9 gene editing in humans, Homology Medicines, a startup advancing a different genetic surgery technique, has just grabbed a big round of funding to make its own clinical push. Homology, of Bedford, MA, wrapped up an $83.5 million … Continue reading “Homology Med Bags $83.5M More, Fueling Push For Gene Editing Twist”

Booster Fills Up With $20M for On-Demand Gas—Is It ‘Sustainable’?

Add refueling your car to the list of mundane tasks you don’t have to put on your to-do list. Booster Fuels, a service that brings gas to parked cars on-demand, said Tuesday it has raised $20 million to continue growing in the two large markets where it operates: the San Francisco Bay Area and Dallas-Forth … Continue reading “Booster Fills Up With $20M for On-Demand Gas—Is It ‘Sustainable’?”

Invitae Expands Gene Test Menu With Good Start, CombiMatrix Deals

Gene tester Invitae has been clear about the company’s ambitions to make genetic information a standard part of medical practice at all stages of patient care. The San Francisco company is now aiming to offer genetic testing at the earliest stages of life by acquiring two companies that specialize in screening prospective parents and newborns. … Continue reading “Invitae Expands Gene Test Menu With Good Start, CombiMatrix Deals”

CRISPR Pioneer Zhang Preaches Extra Caution In Human Gene Editing

A leading genome-editing researcher is urging extra caution as drug companies race to turn the landmark technology he helped create into human medicine. In a paper published today in Nature Medicine, Feng Zhang of the Broad Institute of MIT and Harvard and colleague David Scott argue that researchers should analyze the DNA of patients before … Continue reading “CRISPR Pioneer Zhang Preaches Extra Caution In Human Gene Editing”

Disrupt Indy: Can Data Forge the Path to Inclusive Tech Ecosystems?

U.S. tech startups and investment firms have long been thought of as the domain of white men—because historically, they have been. Although that may be changing as more big tech corporations are pressured to release their diversity statistics and change hiring policies, one only needs to look at the statistics to confirm that women, members … Continue reading “Disrupt Indy: Can Data Forge the Path to Inclusive Tech Ecosystems?”

A.I. Chip Race Redraws Competitive Map Among Tech Firms, Chipmakers

It’s been a long time since tech’s biggest companies could be sorted into discrete buckets according to the products they pioneered—-Google, the search software giant; Apple, the computer and mobile device innovator; e-commerce leader Amazon; business software stalwart Microsoft; and social media engine Facebook. Since then, these major innovators have built on a common resource—increasingly … Continue reading “A.I. Chip Race Redraws Competitive Map Among Tech Firms, Chipmakers”

Aduro Biotech Names Andrea van Elsas Successor to CSO Thomas Dubensky

Aduro Biotech (NASDAQ: [[ticker:ADRO]]) chief scientific officer Thomas Dubensky is leaving to run his own discovery and research company, according to the cancer immunotherapy developer. Berkeley, CA-based Aduro says Dubensky’s resignation will be effective Aug. 31. He had served as Aduro’s chief scientific officer since 2011. Andrea van Elsas, currently CSO of Aduro Biotech Europe, … Continue reading “Aduro Biotech Names Andrea van Elsas Successor to CSO Thomas Dubensky”

Agtech Perspectives From Two Days With the Crop Chemicals Crowd

Spraying chemicals on crops has been a standard farming practice for decades. Pesticides and fungicides aren’t going away, but they are ceding some ground to new biological products that aim to help plants in different ways. The past year has seen market launches for microbial products developed to help plants resist stresses from pests and … Continue reading “Agtech Perspectives From Two Days With the Crop Chemicals Crowd”

Amid Slow VR Growth, Virtual Hangouts Startup AltspaceVR to Shut Down

Despite advances in virtual reality technology and plenty of hype, the medium has yet to take off in the way its advocates envision. The latest reminder is the demise of AltspaceVR, a Redwood City, CA-based startup that hosts social experiences in virtual venues. The four-year-old company announced in a blog post Friday that it will … Continue reading “Amid Slow VR Growth, Virtual Hangouts Startup AltspaceVR to Shut Down”

Bio Roundup: GOP Drama, Immunotherapy Setbacks, Pharma Revamps

Two failed cancer studies this week provided a fresh reminder how little researchers and clinicians understand about immunotherapy’s vagaries: why it works for some people and not for others. The results, in lung cancer and head-and neck cancer, add to recent failures in multiple myeloma and bladder cancer and splash cold water on a sector … Continue reading “Bio Roundup: GOP Drama, Immunotherapy Setbacks, Pharma Revamps”