A number of gene-editing companies have joined the public markets in recent years. Beam Therapeutics, which is developing a CRISPR-based technology intended to offer even more precise genomic edits, aims to become the latest one. Cambridge, MA-based Beam filed its IPO paperwork with securities regulators late Friday. The company set a preliminary $100 million target … Continue reading “Beam Therapeutics Preps IPO and Sheds Light on Its Gene-Editing Drugs”
Category: San Francisco
Biotech Roundup: Vaping Toll Rises, NASH News, Akcea Shakeup & More
Lung injuries linked to electronic cigarettes have topped 800 cases, including 12 deaths, according to the Centers for Disease Control and Prevention. Public health officials aren’t sure whether the injuries are from legally sold products made by companies such as Juul, or from black-market items such as those that allow users to “vape” the active … Continue reading “Biotech Roundup: Vaping Toll Rises, NASH News, Akcea Shakeup & More”
Medallia Acquires Hospitality Software Startup Zingle for $42M
[Updated 2:40 p.m. 9/27. See below.] Zingle, a startup whose software is used by hospitality, travel, and retail industries to more easily and quickly connect with their customers via messaging, has been acquired for about $42 million in cash by Medallia, a publicly traded software company in San Francisco. The Medallia (NYSE: [[ticker:MDLA]]) IPO earlier … Continue reading “Medallia Acquires Hospitality Software Startup Zingle for $42M”
Meissa Scores $30M to Test Vaccine for Dangerous Respiratory Virus
No vaccine is yet available for respiratory syncytial virus (RSV), which causes lung infections that, while usually mild, can be deadly for very young children. Biotech startup Meissa Vaccines, which aims to fill that treatment gap, announced today it raised $30 million to fund early-stage clinical trials for its experimental RSV vaccine. Morningside Ventures, a … Continue reading “Meissa Scores $30M to Test Vaccine for Dangerous Respiratory Virus”
Enanta Steps Forward in NASH Race, With Unclear Prospects
Enanta Pharmaceuticals late Wednesday became the latest of a number of companies to tout an emerging potential therapy for nonalcoholic steatohepatitis, the fatty liver disease that is fast becoming a global epidemic. But it’s unclear whether the experimental treatment can stand out from the crowd. Enanta (NASDAQ: [[ticker:ENTA]]) said the higher of two tested doses of … Continue reading “Enanta Steps Forward in NASH Race, With Unclear Prospects”
Report: IPO Activity Picking Back Up Following Quiet, Volatile Q3
While the headlines may be dominated by news of WeWork putting its IPO on hold after reports about its questionable corporate governance, the overall initial public offering market is doing just fine. So far, 127 US companies went public in the first nine months of the year and the amount they raised already topped three … Continue reading “Report: IPO Activity Picking Back Up Following Quiet, Volatile Q3”
TigerGraph Raises $32M to Extend Graph Database Use to Businesses
TigerGraph, one of the companies advancing the use of graph databases for faster analysis of the connections among people and things, announced today it raised $32 million in Series B funding round led by private equity investor SIG. The new capital brings TigerGraph’s fundraising total to $65 million. Redwood City, CA-based TigerGraph says it’s now … Continue reading “TigerGraph Raises $32M to Extend Graph Database Use to Businesses”
Drug Pricing: Innovation, Investment, and the Public Good
The US biotech and life sciences industry has a long and proud history of driving medical innovations that have improved healthcare outcomes across a wide range of diseases and the overall quality of life for people worldwide. For too long, however, the industry’s narrative has been dominated and defined by partisans with a specific agenda … Continue reading “Drug Pricing: Innovation, Investment, and the Public Good”
Katerra To Make Ultra-Strong Wood Panels at New Factory in WA
[Updated 9/23/19, 6:29 pm. See below.] Construction tech firm Katerra, a 4-year-old Bay area startup with a big fundraising total, a big backer, and big ambitions, officially opened a big factory today in eastern Washington state. Katerra’s activities in the construction field range from project management software and design to the manufacture of pre-fabricated structural … Continue reading “Katerra To Make Ultra-Strong Wood Panels at New Factory in WA”
Amgen’s Galimi Jumps to Adicet Bio to Become Chief Medical Officer
Francesco Galimi has been appointed senior vice president and chief medical officer of Adicet Bio. Galimi comes to the Menlo Park, CA-based cancer drug developer from Amgen (NASDAQ: [[ticker:AMGN]]), where he was global program general manager of early development. His experience also includes positions at Onyx Pharmaceuticals and the Genomics Institute of the Novartis Research … Continue reading “Amgen’s Galimi Jumps to Adicet Bio to Become Chief Medical Officer”
An Entrepreneur’s Quest to Make Seattle a Genome Sciences Hub
Ivan Liachko turned postdoctoral research at the University of Washington into a company whose genomics tools are now found in laboratories researching human, animal, and plant health. His firm, Phase Genomics, was one of the first startups to come out of UW’s genome sciences department. As a first-time entrepreneur working from UW’s incubator more than … Continue reading “An Entrepreneur’s Quest to Make Seattle a Genome Sciences Hub”
Flagship’s Omega Aims to Take Epigenetic Drugs a Step Further
A biotech startup called Omega Therapeutics debuts this morning touting a new approach to developing medicines based on epigenetics, a field of research that has tantalized drug makers for years but produced mixed results. Can the fledgling company surpass previous efforts and develop epigenetic drugs for a slew of different diseases? Cambridge, MA-based Omega was … Continue reading “Flagship’s Omega Aims to Take Epigenetic Drugs a Step Further”
Enough with the Insanity. We Need to Fix Cybersecurity Now
The year 2019 has been another dreadful period for cyberattacks. The most notorious lowlights include: —More than 40 municipalities, including Baltimore, Albany and 22 cities in Texas alone, have seen their computer systems crippled by ransomware attackers demanding millions of dollars. —In one of the largest data breaches ever, a hacker broke into a Capital One server with a … Continue reading “Enough with the Insanity. We Need to Fix Cybersecurity Now”
Bio Roundup: Pelosi’s Reveal, Alder’s Deal, Biogen’s Fails & More
Boston, San Francisco, and a few other metro areas might dominate the US life sciences, but some weeks, all bio-related eyes are on the nation’s capital. Health concerns about vaping continue to mount, and the feds could get involved. Meanwhile, try to find someone in the federal government who isn’t involved in the drug-price debate. … Continue reading “Bio Roundup: Pelosi’s Reveal, Alder’s Deal, Biogen’s Fails & More”
Five Prime’s Knickerbocker Resigns, Director Ringo Named Interim CEO
Aron Knickerbocker, CEO of Five Prime Therapeutics (NASDAQ: [[ticker:FPRX]]), has resigned “to pursue new challenges and opportunities,” the company announced after the market close Thursday. Knickerbocker was promoted to CEO nearly two years ago to succeed founder and longtime CEO Lewis “Rusty” Williams, who became the South San Francisco biotech’s executive chairman. Five Prime said … Continue reading “Five Prime’s Knickerbocker Resigns, Director Ringo Named Interim CEO”
From Discovery to Clinic: Tools & Techniques to Maximize Biologic Drug Candidate Success
Xconomy, Bioprocess International, and Lonza Biologics invite you to a free symposium to gain insight from experts in the different approaches and techniques to successfully progress therapeutic proteins from discovery to the clinic. This is your chance to learn about updates on enhancements to new and established technologies enabling translational research. Attendees will be able … Continue reading “From Discovery to Clinic: Tools & Techniques to Maximize Biologic Drug Candidate Success”
CymaBay Chief Medical Officer Boudes to Depart at September’s End
CymaBay Therapeutics (NASDAQ: [[ticker:CBAY]]) announced that Pol Boudes, the company’s chief medical officer since 2014, will step down at the end of the month. No reason for Boudes’s departure was given, but CymaBay said in a regulatory filing that the decision was mutual. A search for a successor is underway. Newark, CA-based CymaBay is developing … Continue reading “CymaBay Chief Medical Officer Boudes to Depart at September’s End”
Pelosi, Dems Unveil Price Plan: Are 25 Drugs Enough for Negotiation?
With the 2020 election just over a year away, House Speaker Nancy Pelosi (D-CA) has unveiled the Democratic Party’s answer to public discontent over high prescription drug prices. A preview of the plan was leaked last week. Today’s announcement doesn’t stray far. The new plan would have the U.S. Department of Health and Human Services … Continue reading “Pelosi, Dems Unveil Price Plan: Are 25 Drugs Enough for Negotiation?”
Retrophin’s Neil McFarlane Named Adamas CEO, Succeeding Gregory Went
Adamas Pharmaceuticals (NASDAQ: [[ticker:ADMS]]) appointed Neil McFarlane to serve as its new CEO. He is also joining the Emeryville, CA, company’s board of directors. McFarlane succeeds Gregory Went, chairman and CEO of Adamas since its inception. Went is stepping down from the board but he will continue to advise the company. McFarlane was most recently … Continue reading “Retrophin’s Neil McFarlane Named Adamas CEO, Succeeding Gregory Went”
Why Menlo Ventures Backed Construction Tech Firm Fieldwire
[Corrected 9/17/2019, 8:58 a.m, and 9/18/19, 4:53 p.m. See below.] Fieldwire, whose mobile app helps builders and construction crews coordinate their work, announced today it has lined up a total of $33.5 million across two newly disclosed fundraising rounds. The San Francisco-based construction tech company says it raised $8.5 million in a Series B funding … Continue reading “Why Menlo Ventures Backed Construction Tech Firm Fieldwire”
Advisory Body Backs Aimmune Peanut Allergy Drug, Next Up: the FDA
A panel of independent advisors to the FDA voted on Friday to recommend approval of an experimental peanut allergy drug from Aimmune Therapeutics. But concern about the risks of an allergic reaction to the therapy led the committee of mostly physicians to also recommend a safety plan to ensure that clinicians, patients, and their families … Continue reading “Advisory Body Backs Aimmune Peanut Allergy Drug, Next Up: the FDA”
Cloudflare’s $525M IPO Emboldens Already-Confident Internet Booster
[Updated 9/13/19, 11:40 am ET. See below.] Cloudflare has had its share of controversy, and is in a market with a wide range of more established competitors, from Amazon Web Services and Google Cloud to Cisco Systems and Palo Alto Networks. But the business software company still felt confident enough that Wall Street would welcome … Continue reading “Cloudflare’s $525M IPO Emboldens Already-Confident Internet Booster”
Bio Roundup: Award Winners, Lung Data, Dems on Drug Pricing & More
For decades, advanced lung cancer was a quick death sentence. That’s no longer a given, thanks in part to the arrival of immunotherapy. If a medical meeting in Barcelona this week was any indication, more help could be on the way. Targeted medicine isn’t new to lung cancer, but only a fraction of patients have … Continue reading “Bio Roundup: Award Winners, Lung Data, Dems on Drug Pricing & More”
SpringWorks and Satsuma Boost This Week’s Biotech IPO Haul to $595M
Wall Street welcomed three life science companies to the public markets this week. 10x Genomics led the way Wednesday, followed by SpringWorks Therapeutics and Satsuma Pharmaceuticals on Thursday. Combined, the three companies raised more than $595 million from their IPOs. According to IPO research firm Renaissance Capital, 153 companies have filed the paperwork this year … Continue reading “SpringWorks and Satsuma Boost This Week’s Biotech IPO Haul to $595M”
John Halamka, Livongo Health & AI Progress at X·CON on Oct. 22
The consumerization of healthcare is accelerating. Within five years, a “significant percentage” of healthcare services will be run through mobile apps and other digital tools, predicts John Halamka, a Boston-based doctor and prominent digital health expert. Halamka shared his prognostication in a recent conversation, but we’ll dive more deeply into his vision for healthcare’s tech-enabled … Continue reading “John Halamka, Livongo Health & AI Progress at X·CON on Oct. 22”
FDA Doesn’t Shell Peanut Allergy Drug Pre-Hearing, Aimmune Shares Climb
Peanut allergy sufferers know they need to stay away from certain foods that can put them in danger. But what about accidental exposure? Even trace amounts of peanut protein in their food or someone else’s can trigger an allergic reaction that sends them to the hospital. That’s what makes Palforzia, an experimental peanut allergy treatment … Continue reading “FDA Doesn’t Shell Peanut Allergy Drug Pre-Hearing, Aimmune Shares Climb”
After First Look at House Drug Plan, Stocks Rise Slightly
The first details of the long-awaited House Democrat plan to lower drug prices leaked out Monday night, with elements that have long been anathema to the biopharma industry and its supporters in Washington. While the world digested the details Tuesday, however, biopharma investors didn’t seem fazed. Some individual companies saw shares dip, but the biopharma … Continue reading “After First Look at House Drug Plan, Stocks Rise Slightly”
BlackThorn Therapeutics Names Monique Levy Chief Strategy Officer
Monique Levy has been appointed chief strategy officer of BlackThorn Therapeutics. Levy most recently worked at iCarbonX as global head of strategy and partnerships. Her experience also includes positions at PatientsLikeMe and Decision Resources Group. San Francisco-based BlackThorn is using artificial intelligence to help develop psychiatric drugs. In June, the company raised $76 million in … Continue reading “BlackThorn Therapeutics Names Monique Levy Chief Strategy Officer”
Herceptin Inventors, Immunology Pioneers Take Home 2019 Lasker Awards
This year’s Lasker Awards, the US’s most prestigious biomedical honor, are going to five scientists whose work led to a critical breast cancer treatment and significant basic research advances that have helped pave the way for immunotherapy. H. Michael Shepard, Dennis Slamon, and Axel Ullrich won the Lasker-DeBakey Clinical Medical Research Award for inventing trastuzumab … Continue reading “Herceptin Inventors, Immunology Pioneers Take Home 2019 Lasker Awards”
Challenging CRISPR, Trucode Raises $34M for New Gene-Editing System
Gene-editing technology offers the potential to treat inherited disorders with selective edits and corrections to an afflicted individual’s genetic code. But with such molecular tinkering comes with the risk of unintended changes to the genome. Biotech startup Trucode Gene Repair is developing technology that it claims can edit genes in a way that reduces the … Continue reading “Challenging CRISPR, Trucode Raises $34M for New Gene-Editing System”
Your Car Is Hackable—Here Are Three Steps You Can Take
We’re used to protecting the information on our smartphones by keeping strong passwords and setting a lock screen. But fewer people know about the importance of protecting the information in their vehicles. Earlier this year, the automotive shopping website CarGurus asked 1,020 consumers questions about common security practices and the risks of connected cars. Here … Continue reading “Your Car Is Hackable—Here Are Three Steps You Can Take”
As New CEO of Cerevel, Coles Moves From One Neuro Startup to Another
Tony Coles, the biotech veteran who once steered Onyx Pharmaceuticals into a $10 billion buyout, has left one neurology startup to join another. Coles on Monday was named the CEO of Cerevel Therapeutics, a Boston company that Pfizer (NYSE: [[ticker:PFE]]) and Bain Capital launched in October 2018 with $350 million in funding. The appointment marks the … Continue reading “As New CEO of Cerevel, Coles Moves From One Neuro Startup to Another”
At Big Lung Cancer Meeting, Lights Shine on KRAS, Drug Combos & More
The treatment landscape for lung cancer has shifted significantly over the past few years, and more changes could be on the way. At the World Conference on Lung Cancer in Barcelona this weekend a number of drug makers trotted out some of their latest advances in immunotherapy, targeted pills, drug combinations, and more. Xconomy rounded … Continue reading “At Big Lung Cancer Meeting, Lights Shine on KRAS, Drug Combos & More”
Frequency Plans IPO for Hearing Loss Drug & More Regenerative Meds
Hearing loss affects millions of Americans but to date, there are no FDA-approved medicines to treat them. Frequency Therapeutics is developing a hearing loss drug that taps into the body’s regenerative capabilities. As the company prepares to advance the experimental treatment to mid-stage studies, it is planning an IPO to finance the research. Frequency set … Continue reading “Frequency Plans IPO for Hearing Loss Drug & More Regenerative Meds”
Bio Roundup: MedCo’s Pricing Plan, Vertex’s Gamble, uBiome Undone
Being first to market with a new type of drug brings advantages. The first mover sets the bar for what physicians, payers, and patients can expect of that medicine and how much it costs. It grabs market share that followers have to steal away. But the first mover isn’t infallible if someone else has something … Continue reading “Bio Roundup: MedCo’s Pricing Plan, Vertex’s Gamble, uBiome Undone”
SF’s Ginger Raises $35M in Burgeoning Digital Therapeutics Market
Ginger, a San Francisco-based digital health startup developing software to help patients manage mental and behavioral health conditions, announced Wednesday it has raised $35 million from investors to offer its service to more people who experience stress, depression, and other conditions. People can use Ginger’s mobile app to participate in virtual therapy sessions with behavioral … Continue reading “SF’s Ginger Raises $35M in Burgeoning Digital Therapeutics Market”
Bankrupt uBiome Says Founders May Have Misled Investors
[Updated, 9/5/19, 1:17am. See below.] Less than a year after reeling in a $83 million investment round, privately held microbiome startup uBiome has filed for bankruptcy and says its founders might have misled those investors amid other potential improper business practices. The allegations of impropriety, made more dramatic by an FBI raid earlier this year, … Continue reading “Bankrupt uBiome Says Founders May Have Misled Investors”
Bolt Biotherapeutics Taps Ex-Alder Executive Randy Schatzman as CEO
Randy Schatzman, the former chief executive of Alder BioPharmaceuticals (NASDAQ: [[ticker:ALDR]]), has been appointed CEO of Bolt Biotherapeutics. He is also joining the Redwood City, CA, company’s board of directors. Schatzman was CEO of Alder from its founding in 2004 until last year, when he left the company. Bolt Bio raised $54 million in February … Continue reading “Bolt Biotherapeutics Taps Ex-Alder Executive Randy Schatzman as CEO”
Vir Bio Plans IPO to Fund Clinical Trials of Infectious Disease Drugs
Vir Biotechnology assembled its pipeline of infectious disease compounds through deal-making with other drug developers, along with financial support from blue-chip venture capital firms and the non-profit Bill & Melinda Gates Foundation. Now the biotech is turning to the public markets for the cash to continue clinical tests of its most advanced drug candidates. San … Continue reading “Vir Bio Plans IPO to Fund Clinical Trials of Infectious Disease Drugs”
As Cholesterol Drug Aces Big Test, MedCo CEO Open to Flexible Pricing
The Medicines Co. (NASDAQ: [[ticker:MDCO]]) announced last week that its cholesterol-lowering medicine inclisiran, meant to be taken just twice a year, had passed a key test but offered no details. Some of those details arrived this morning. At a medical meeting in Paris, a presentation from the test, a 1,617-patient Phase 3 study called ORION-11, … Continue reading “As Cholesterol Drug Aces Big Test, MedCo CEO Open to Flexible Pricing”
Patent Challenge to Alexion Proceeds, But No Amgen Biosimilar Yet
Three patents that extend the exclusivity of Alexion Pharmaceuticals’ franchise rare disease drug will now face a patent challenge from Amgen. On Friday, a court within the US Patent and Trademark Office agreed to a review of Amgen’s claims that three Alexion (NASDAQ: [[ticker:ALXN]]) patents covering its drug, eculizumab (Soliris), were anticipated or obvious, and … Continue reading “Patent Challenge to Alexion Proceeds, But No Amgen Biosimilar Yet”
Robocalls Crowd Out Real Business Calls. This Startup Has an Answer.
The ways in which robocallers try to dupe us are becoming almost as plentiful as the frequency of the calls. An unknown phone number was once all scammers needed to trick the average person into picking up the call. Now, new hoaxes are making it increasingly difficult to avoid fraud, such as the “one ring” … Continue reading “Robocalls Crowd Out Real Business Calls. This Startup Has an Answer.”
Bio Roundup: Cholesterol Check, J&J’s Opioid Hit, AbbVie’s Flop & More
You might be camping, barbecuing, or sleeping on Monday. It’s Labor Day, after all. But in Paris, this cardiologist will be in a conference center, walking an audience through a slide deck packed with Phase 3 data for a new cholesterol-lowering drug, inclisiran. Inclisiran’s owner, the Medicines Co., jumped the presentation by a week, promising … Continue reading “Bio Roundup: Cholesterol Check, J&J’s Opioid Hit, AbbVie’s Flop & More”
$5.8B for Nothing: AbbVie Shelves Stemcentrx Drug After Latest Flop
AbbVie has officially waved the white flag on the cancer drug that triggered its $5.8 billion buyout of Stemcentrx a few years ago. North Chicago, IL-based AbbVie (NYSE: [[ticker:ABBV]]) said that rovalpituzumab tesirine, or Rova-T, failed another clinical trial—this time a Phase 3 study, MERU, testing the drug as a maintenance therapy in patients with … Continue reading “$5.8B for Nothing: AbbVie Shelves Stemcentrx Drug After Latest Flop”
Ex-Nektar Exec Maninder Hora Joins Amunix Pharmaceuticals C-Suite
Amunix Pharmaceuticals has appointed Maninder Hora to serve as chief technical operations officer, the same position he held at Nektar Therapeutics (NASDAQ: [[ticker:NKTR]]). Mountain View, CA-based Amunix is developing a type of cancer drug called a T cell engager using technology that the company says overcomes the limitations of these immunotherapies.
ThoughtSpot Nabs $248M for Accessible Analytics, Nears $2B Valuation
ThoughtSpot, a software company formed to make data analytics accessible for business staffers without data science expertise, announced today it raised $248 million in a Series E funding round that set its valuation at $1.95 billion. Sunnyvale, CA-based ThoughtSpot, founded in 2012, made it a core mission to enable its customers’ non-technical workers to mine … Continue reading “ThoughtSpot Nabs $248M for Accessible Analytics, Nears $2B Valuation”
FibroGen Founder and CEO Thomas Neff Passes Away Unexpectedly
Thomas Neff, the founder, CEO, and chairman of FibroGen (NASDAQ: [[ticker:FGEN]]), has passed away. The San Francisco-based biotech did not disclose any details other than to say Neff’s death over the weekend was unexpected. Board member James Schoeneck has been named interim CEO while the company searches for Neff’s permanent successor. Neff founded FibroGen in … Continue reading “FibroGen Founder and CEO Thomas Neff Passes Away Unexpectedly”
Celgene to Sell Blockbuster Drug to Amgen for $13B to Close BMS Deal
Celgene is selling a blockbuster anti-inflammatory drug to Amgen for $13.4 billion cash, a deal needed to close the company’s pending $74 billion acquisition by Bristol-Myers Squibb. Bristol-Myers (NYSE: [[ticker:BMY]]) is still working to complete the proposed acquisition of Celgene (NASDAQ: [[ticker:CELG]]) that was announced in January. In June, Bristol-Myers said that Celgene drug apremilast … Continue reading “Celgene to Sell Blockbuster Drug to Amgen for $13B to Close BMS Deal”
New PCSK9 Cholesterol Drug Faces Tough Foe. (Hint: Not Cholesterol.)
[Updated 8/26/19, 10:30am. See below.] Remember when the new wave of expensive cholesterol-lowering drugs—known as PCSK9 inhibitors—was supposed to give the healthcare system a financial heart attack? Far from it. Four years after approval the two PCSK9 blockers on the market have yet to crack $1 billion in annual sales, combined, thanks to a gloves-off … Continue reading “New PCSK9 Cholesterol Drug Faces Tough Foe. (Hint: Not Cholesterol.)”
VMware: “We Bought Carbon Black for $2.1B!” Analysts: “Oh… Why?”
The deal VMware unveiled this week to buy cybersecurity firm Carbon Black triggered a heaping share of skepticism. “I’m having a hard time with the Carbon Black acquisition,” said Jeffries analyst John Stephen DiFucci on a conference call with VMware executives. “I get that Carbon Black is part of that next-gen player. … But I … Continue reading “VMware: “We Bought Carbon Black for $2.1B!” Analysts: “Oh… Why?””