An experimental GlaxoSmithKline treatment for multiple myeloma has achieved the main goal of a key study, and the drug maker plans to file for regulatory approval by the end of this year. GlaxoSmithKline (NYSE: [[ticker:GSK]]) said Friday that treatment with its drug, belantamab mafodotin, showed a “clinically meaningful overall response rate” in the study. The … Continue reading “GSK’s Cancer Comeback Continues With Data for Multiple Myeloma Drug”
Category: Boston
Bio Roundup: Sarepta’s Stumble, Opioid Suits, Shkreli’s Legacy & More
Biotech news tends to slow down in August but the past seven days have been busy for regulatory decisions. Three drugs and two devices won FDA nods. Not all companies were as fortunate. Several biotechs reported failed clinical trials or unfavorable FDA decisions. The most notable one might be the rejection of a Sarepta Therapeutics … Continue reading “Bio Roundup: Sarepta’s Stumble, Opioid Suits, Shkreli’s Legacy & More”
Boston Tech Watch: Epstein, MIT Media Lab, Carbon Black, JRNI & More
A slower news week for Boston technology news, but not without its fireworks. Among them: Researchers are not taking the news well that MIT Media Lab director Joi Ito had extensive financial arrangements with Jeffrey Epstein, the convict and alleged child sex trafficker who committed suicide earlier this month awaiting trial. Read on for more. … Continue reading “Boston Tech Watch: Epstein, MIT Media Lab, Carbon Black, JRNI & More”
VMware Dropping $4.8B to Buy Carbon Black, Pivotal Software
VMware is shelling out big bucks for two companies to fill out its technology stack: developer platform Pivotal Software for $2.7 billion and cybersecurity firm Carbon Black for $2.1 billion. “These acquisitions address two critical technology priorities of all businesses today—building modern, enterprise-grade applications and protecting enterprise workloads and clients,” VMware CEO Pat Gelsinger said … Continue reading “VMware Dropping $4.8B to Buy Carbon Black, Pivotal Software”
Frequency Therapeutics Names Dana Hilt Chief Medical Officer
Frequency Therapeutics has appointed Dana Hilt to serve as its chief medical officer, the same position he held at Lysosomal Therapeutics. His experience also includes positions at FORUM Pharmaceuticals, Guilford Pharmaceuticals, Ascend Pharmaceuticals, Critical Therapeutics, and Amgen (NASDAQ: [[ticker:AMGN]]). William Chin, Frequency’s interim CMO, will shift to a new role at the company as executive … Continue reading “Frequency Therapeutics Names Dana Hilt Chief Medical Officer”
Cadent Therapeutics Appoints John McBride CFO
John McBride has been appointed chief financial officer of Cadent Therapeutics. He was most recently the CFO of Syntimmune, which was acquired by Alexion Pharmaceuticals (NASDAQ: [[ticker:ALXN]]) last year. Cambridge, MA-based Cadent raised $40 million in financing last November to advance its lead drug into Phase 2 testing for two movement disorders.
Healthcare’s Future is Telemedicine & AI, But Will Everyone Benefit?
John Halamka thinks the digital health industry is still “emerging.” But it has come a long way and is starting to deliver after years of hype. Halamka, a Boston-based physician and healthcare technology expert, says that’s thanks to several coalescing factors: improved technology, more favorable financial incentives for using digital products in healthcare, and growing … Continue reading “Healthcare’s Future is Telemedicine & AI, But Will Everyone Benefit?”
Splunk To Pay $1B For SaaS App Monitoring Firm SignalFx
Splunk, an IT operations management and information security company, announced today it has clinched a deal to buy cloud software application monitoring company SignalFx for $1.05 billion. San Francisco-based Splunk (NASDAQ: [[ticker:SPLK]]) says the acquisition will enable it to give businesses a real-time, panoramic view of the performance of their cloud-based applications, whether their data … Continue reading “Splunk To Pay $1B For SaaS App Monitoring Firm SignalFx”
Ford’s Autonomic Connects EV Maker Ayro to Its Mobility Cloud
Ford subsidiary Autonomic today announced a step forward in its drive to expand the online mobility hub it built to manage digital interactions among cars, drivers, fleets, service providers, and auto manufacturers—including Ford’s rivals. Palo Alto, CA-based Autonomic signed up Ayro, an electric vehicle startup, as a paying customer of its Transportation Mobility Cloud (TMC), … Continue reading “Ford’s Autonomic Connects EV Maker Ayro to Its Mobility Cloud”
UniQure Eliminates Chief Operating Officer Role, McMillan to Retire
UniQure (NASDAQ: [[ticker:QURE]]) is eliminating the chief operating officer position, which has been filled for the past two years by Scott McMillan. The gene therapy developer, which is based in the Netherlands and has US operations in Lexington, MA, said that McMillan will retire and two other executives are moving into different positions. Sander van … Continue reading “UniQure Eliminates Chief Operating Officer Role, McMillan to Retire”
Xcelerate at Biotech Week Boston Discount Ticket Sale Ends Friday
If you care about life science and the people and issues driving the future, you will want an Xcelerate pass to this year’s Biotech Week Boston. Hurry, our Super Saver sale ends Friday! The Xcelerate program package provides access to four of the conference’s most popular events, all on Wednesday, Sept. 11: —Keynote Speaker Series: … Continue reading “Xcelerate at Biotech Week Boston Discount Ticket Sale Ends Friday”
Oncorus Adds $79.5M to Steer Cancer-Fighting Virus to Human Testing
Nearly four years ago, the FDA approved a therapy that uses a virus to infect tumor cells and break them down—the first such viral therapy for treating cancer. Oncorus CEO Ted Ashburn says there’s room to improve on these oncolytic viruses and their role in immunotherapy, and his biotech startup is getting ready to show … Continue reading “Oncorus Adds $79.5M to Steer Cancer-Fighting Virus to Human Testing”
FDA Rejects Sarepta’s Second Duchenne Drug, Citing Safety Concerns
[Updated, 8/20/19, see below] Sarepta Therapeutics won one of the most dramatic and controversial drug approvals in the history of the FDA a few years ago. It didn’t have the same luck the second time around. The FDA late Monday rejected golodirsen (Vyondys 53), which was widely expected to become the second approved Duchenne muscular … Continue reading “FDA Rejects Sarepta’s Second Duchenne Drug, Citing Safety Concerns”
Bio Roundup: Zolgensma Fallout, Duchenne Redux, Ebola Boost & More
We learned last week that the FDA was investigating Novartis for manipulating animal data related to its $2 million-a-dose gene therapy Zolgensma. The activity took place at AveXis, the firm Novartis bought for $8.7 billion in 2018, and Novartis reportedly knew but failed to report it to the FDA before the agency approved Zolgensma in … Continue reading “Bio Roundup: Zolgensma Fallout, Duchenne Redux, Ebola Boost & More”
Will Porsche Fans Ever Live in a Driverless World? Porsche Says No.
Imagine the transportation future 20 years from now. Here’s one way things could roll on a weekday: Many of us get picked up at home by a sturdy, standardized, driverless car that will also scoop up a few of our neighbors who work at other businesses near ours. Entering the highway, the vehicle automatically links … Continue reading “Will Porsche Fans Ever Live in a Driverless World? Porsche Says No.”
Boston Tech Watch: Buoy Health, Cambridge Crops, Polarity & More
This week, we’re tracking venture capital deals in digital health, augmented reality for the enterprise, wellness, and food tech. Read on for details. —Buoy Health said it snagged $15 million in a Series B funding round led by Hambrecht Ducera Growth Ventures, which was joined in the investment by Humana (NYSE: [[ticker:HUM]]), F-Prime Capital Partners, … Continue reading “Boston Tech Watch: Buoy Health, Cambridge Crops, Polarity & More”
Motif Unveils New Name and $27.5M to Build Food Ingredients Pipeline
Plant-based meats and milks still use proteins, just not proteins that come from animals. Motif Ingredients has raised $27.5 million to build a pipeline of these animal-free protein ingredients. In addition to the new cash, Motif on Thursday also unveiled a new name: Motif FoodWorks. The Boston company says the name better connects its business … Continue reading “Motif Unveils New Name and $27.5M to Build Food Ingredients Pipeline”
Four New Drugs Are Around the Corner. Here’s What You Need to Know.
[Updated, 3:40 pm ET, see below] The Food and Drug Administration approved 59 new drugs last year, a record for the agency which over the years has swung back and forth between tight control and leniency. We are in the midst of perhaps the agency’s most permissive era ever, thanks to its openness to speed … Continue reading “Four New Drugs Are Around the Corner. Here’s What You Need to Know.”
After Drought, Digital Health’s Summer of IPOs Brings Validation
After a nearly three-year period in which not a single digital health company held an initial public stock offering, the dry spell has ended. In recent weeks, four healthcare software and technology businesses—Change Healthcare, Health Catalyst, Livongo Health, and Phreesia—held IPOs. Taken as a whole, these public market debuts were mostly successful, and could persuade … Continue reading “After Drought, Digital Health’s Summer of IPOs Brings Validation”
AI World Conference and Expo
From the event organizer: AI World Conference and Expo focuses on the state of the practice of AI in the enterprise. The 3-day program delivers a comprehensive spectrum of content, networking, and business development opportunities, all designed to help you cut through the hype and navigate through the complex landscape of AI business solutions. Register … Continue reading “AI World Conference and Expo”
Chasing Blueprint, Deciphera Plans FDA Filing for GI Cancer Drug
[Updated, 11:04 am ET, see below] Deciphera Pharmaceuticals this morning announced plans to seek FDA approval of a cancer medicine that treats a deadly type of tumor that forms in the gastrointestinal tract. The Deciphera (NASDASQ: [[ticker:DCPH]]) drug, ripretinib, hit its main goal in a Phase 3 trial, INVICTUS, in 129 patients with gastrointestinal stromal … Continue reading “Chasing Blueprint, Deciphera Plans FDA Filing for GI Cancer Drug”
Vor Biopharma Appoints Neon’s Robert Ang President & CEO
Vor Biopharma has appointed Robert Ang to serve as president and CEO. Ang joins Cambridge, MA-based Vor from Neon Therapeutics, where he was chief business officer. His experience also includes positions at Bavarian Nordic, Cadence Pharmaceuticals, and Frazier Healthcare Ventures. In February, Vor raised $42 million in Series A financing to support development of a … Continue reading “Vor Biopharma Appoints Neon’s Robert Ang President & CEO”
Boston Tech Watch: Nike, Cybereason, Care.com, LaunchByte & More
Nike goes shopping in Boston. Cybereason tracks down another big investment. Care.com makes a change at the top. A purported venture capitalist gets arrested for alleged fraud. Read on for these stories and more of the biggest developments in Boston tech this week. —Nike (NYSE: [[ticker:NKE]]) acquired Boston-based retail technology firm Celect for an undisclosed … Continue reading “Boston Tech Watch: Nike, Cybereason, Care.com, LaunchByte & More”
Bayer Buys Out BlueRock, Betting at Least $240M More on Cell Therapy Work
Versant Ventures and Bayer have started several biotechs together. But today marks the first time the German drug maker takes a step further and buys one of them: cell therapy developer BlueRock Therapeutics. Bayer already owns a 40.8 percent stake in BlueRock through its Leaps by Bayer venture arm. But it will pay $240 million … Continue reading “Bayer Buys Out BlueRock, Betting at Least $240M More on Cell Therapy Work”
Ribon Therapeutics Taps Sudha Parasuraman for Chief Medical Officer
Sudha Parasuraman has been appointed chief medical officer of cancer drug developer Ribon Therapeutics. She was most recently the chief medical officer of X4 Pharmaceuticals (NASDAQ: [[ticker:XFOR]]). Her experience also include positions at uniQure (NASDAQ: [[ticker:QURE]]), Novartis (NYSE: [[ticker:NVS]]) and Millennium Pharmaceuticals. In other moves, Ribon named Edward “Tad” Stewart to serve as chief business … Continue reading “Ribon Therapeutics Taps Sudha Parasuraman for Chief Medical Officer”
Rhythm Pharma’s Obesity Drug Hits Phase 3 Goals, FDA Filing Planned
A Rhythm Pharmaceuticals drug developed to reduce the weight gain and ravenous hunger in genetic obesity disorders has hit the goals of two late-stage clinical trials, and the company now plans to file for FDA approvals late this year or in early 2020. On Wednesday, Rhythm (NASDAQ: [[ticker:RYTM]]) announced preliminary Phase 3 data for its … Continue reading “Rhythm Pharma’s Obesity Drug Hits Phase 3 Goals, FDA Filing Planned”
Women’s Health-Focused Luca Bio Takes Microbiome R&D Beyond the Gut
Urinary tract infections are among the most common bacterial infections in the United States, but treatment options are shrinking as resistance to antibiotics commonly prescribed to treat the condition continues to rise. Luca Biologics, a new Cambridge, MA-based biotech focused on women’s health, emerged Tuesday with a plan to advance an investigational UTI drug into … Continue reading “Women’s Health-Focused Luca Bio Takes Microbiome R&D Beyond the Gut”
Editas Medicine Appoints Cynthia Collins President & CEO
Cynthia Collins has been appointed president and CEO of Editas Medicine (NASDAQ: [[ticker:EDIT]]). Collins has been serving as interim CEO of the Cambridge, MA, company since Katrine Bosley left the chief executive role in March. Collins will continue to serve on the Editas board of directors. Her experience includes executive roles at Human Longevity, the … Continue reading “Editas Medicine Appoints Cynthia Collins President & CEO”
FDA: Despite “Manipulated” Data, $2M Gene Therapy Should Stay on Market
[Updated, 7:12 pm ET, see below] The FDA on Tuesday said that some data supporting the spinal muscular atrophy gene therapy Zolgensma was “manipulated” before its May 24 approval and that its manufacturer, Novartis (NYSE: [[ticker:NVS]]) subsidiary AveXis, knew about it. The FDA stopped short of saying Zolgensma should be pulled from the market, but … Continue reading “FDA: Despite “Manipulated” Data, $2M Gene Therapy Should Stay on Market”
Genentech’s Hegde Named Foundation Medicine Chief Scientific Officer
Priti Hegde is now chief scientific officer of Foundation Medicine. She joins Cambridge, MA-based Foundation after 12 years at Roche subsidiary Genentech, where she was most recently senior director and principal scientist in oncology biomarker development. Hegde will take over the scientific responsibilities of Michael Doherty, who will retire in September from his position as … Continue reading “Genentech’s Hegde Named Foundation Medicine Chief Scientific Officer”
Inari Reaps $89M and Eyes Global Farm Markets for Gene-Edited Seeds
Plant genetics startup Inari, which is developing crop varieties that produce higher yields and use fewer resources, has raised $89 million to advance its research toward the US and international markets. Corn, soybean, wheat, and tomatoes are the Cambridge, MA-based company’s initial target crops. CEO Ponsi Trivisvavet says the company aims to launch several products … Continue reading “Inari Reaps $89M and Eyes Global Farm Markets for Gene-Edited Seeds”
SoftBank Commits $200M to Cybereason, Cybersecurity’s Newest Unicorn
Software has become arguably the most effective weapon for criminals and nation states. In response, security technology businesses are pulling in huge investments to enhance their arsenal to try and stop cyber adversaries. Cybereason, one of the cybersecurity industry’s biggest bets, announced today that it’s raising up to $200 million in equity funding from the … Continue reading “SoftBank Commits $200M to Cybereason, Cybersecurity’s Newest Unicorn”
Digital Health Gets Real: Hear From Pear, Nuance & More at X·CON
At times in recent years, it seemed like digital technologies would never live up to the hype in healthcare. In many cases, they still haven’t. But some have turned a corner and are starting to have a real impact. Devices with health-minded features, such as home-monitoring systems and smart watches, are helping patients and doctors … Continue reading “Digital Health Gets Real: Hear From Pear, Nuance & More at X·CON”
GlycoMimetics Sickle Cell Drug Flops as Others Creep Forward
New treatments could soon be on the way for sickle cell disease, an inherited and debilitating blood disorder. But a drug from GlycoMimetics won’t be among them. GlycoMimetics (NASDAQ: [[ticker:GLYC]]) had been aiming to show that a drug called rivipansel could help sickle cell patients who are hospitalized with severe pain episodes, or “crises.” The … Continue reading “GlycoMimetics Sickle Cell Drug Flops as Others Creep Forward”
Bio Roundup: Pfizer’s Future, CRISPR in Patients, Drug Imports & More
[Corrected 12:55 p.m. ET. See below.] Acquisitions made Pfizer what it is today: the world’s biggest drug maker measured by revenue. But as the company maps its future, CEO Albert Bourla is breaking some of that legacy apart. Blockbuster drugs such as Viagra, which was discovered in-house, and Lipitor, which came via acquisition, are currently … Continue reading “Bio Roundup: Pfizer’s Future, CRISPR in Patients, Drug Imports & More”
Boston Tech Watch: Jobble, Soofa, Dynatrace, Markforged & DataRobot
The Boston tech scene lands its first IPO of 2019. DataRobot rakes in about $200 million more. Pushback on facial recognition spreads from Somerville, MA, to neighboring Cambridge. Markforged and Desktop Metal head back to court. Read on for more of this week’s Boston tech news. —Burlington, MA-based software company Everbridge (NASDAQ: [[ticker:EVBG]]) is acquiring … Continue reading “Boston Tech Watch: Jobble, Soofa, Dynatrace, Markforged & DataRobot”
Boston’s Life Science Disruptors
Featuring open conversations on current trends and developments, and inspiration to spark your business’ growth. Three groups of innovators present their candid stories about life in the life sciences, and the wisdom they’ve gained, ideas they’ve pursued, their latest advances, and hardships they’ve faced.
Dynatrace Shares Jump, Marking First Boston-Area Tech IPO of 2019
Shares of Waltham, MA-based software intelligence firm Dynatrace hit the public markets for the first time today, and it was a strong debut. Bankers elevated the initial stock pricing above earlier estimates, and then traders pushed the value higher, to $25 a share at midday. The first IPO this year of a tech company headquartered … Continue reading “Dynatrace Shares Jump, Marking First Boston-Area Tech IPO of 2019”
Ford, Retreating From Bold Timeline, Buys Quantum Signal for AV Tech
Back in 2016, Ford’s then-CEO Mark Fields fired a shot across the bow when he made a daring pledge. The big automaker would deploy fully autonomous fleet vehicles as part of a ride-sharing or ride-hailing service by 2021, when it would also be mass-producing such vehicles, he said. Earlier this year, though, current Ford CEO … Continue reading “Ford, Retreating From Bold Timeline, Buys Quantum Signal for AV Tech”
Amicus Offers First Look At Gene Therapy Work With Batten’s Data
Amicus Therapeutics bought a spinout of Nationwide Children’s Hospital last year as part of a plan to become a player in the emerging field of gene therapy. Today it is providing the first evidence, in humans, that the investment could pay dividends. The results Amicus (NASDAQ: [[ticker:FOLD]]) are disclosing this morning come with plenty of … Continue reading “Amicus Offers First Look At Gene Therapy Work With Batten’s Data”
White House Floats Canadian Import Plan But Excludes Many Costly Drugs
[Updated, 6:18 p.m. ET. See below.] The Trump administration unveiled Wednesday a long-awaited plan to import cheaper medications from Canada and other countries. The US Department of Health and Human Services says the two proposals are part of the administration’s strategy to curb high prescription-drug prices, which has often been short on action despite the … Continue reading “White House Floats Canadian Import Plan But Excludes Many Costly Drugs”
Markforged Sues Desktop Metal Over “Dirty Tricks” in 3D Printing War
Markforged is reviving its courtroom battle with 3D printing rival Desktop Metal with a lawsuit that alleges “a campaign of dirty tricks” by the competitor that violates a 2018 deal the two agreed to when they last were bringing each other to court. Markforged, based in Watertown, MA, says in the lawsuit filed Tuesday in … Continue reading “Markforged Sues Desktop Metal Over “Dirty Tricks” in 3D Printing War”
Verastem Oncology Board Member Brian Stuglik Named CEO
Brian Stuglik has been appointed CEO of Verastem Oncology (NASDAQ: [[ticker:VSTM]]). Stuglik is a member of the Boston-based cancer drug developer’s board of directors, and he will retain his board seat. His experience also includes various positions at Eli Lilly (NYSE: [[ticker:LLY]]). Stuglik succeeds Robert Forrester, who stepped down in June.
Mark Levin Named Xconomy’s 2019 Lifetime Achievement Award Winner in Boston
We at Xconomy are excited to announce that we are honoring Mark Levin, co-founder and partner at Third Rock Ventures, with our 2019 Lifetime Achievement Award in Boston. The award recognizes Levin’s extensive contributions to the biotech industry and to the Boston life sciences ecosystem. Levin built Millennium Pharmaceuticals—inspiring a generation of future executives/entrepreneurs along … Continue reading “Mark Levin Named Xconomy’s 2019 Lifetime Achievement Award Winner in Boston”
Sherlock Bio Names Harvard’s William Blake Chief Technology Officer
Sherlock Biosciences has appointed William Blake to serve as its chief technology officer. Blake most recently worked at Harvard, where he was the business development lead for the Wyss Institute for Biologically Inspired Engineering. His experience also includes posts at GreenLight Biosciences and Codon Devices. In other moves, Cambridge, MA-based Sherlock named Don Haut its … Continue reading “Sherlock Bio Names Harvard’s William Blake Chief Technology Officer”
DataRobot, Now a Unicorn, Raises Close To $200M for Machine Learning: Sources
[Update: On Sept. 17, DataRobot announced it had raised $206 million in a Series E round led by Sapphire Ventures. It brings the Boston company’s total amount raised to $431 million.] DataRobot has raised a Series E funding round in the ballpark of $200 million to advance its automated machine learning and artificial intelligence software, … Continue reading “DataRobot, Now a Unicorn, Raises Close To $200M for Machine Learning: Sources”
Exact Sciences Buying Genomic Health in $2.8B Cancer Diagnostics Deal
[Updated 7/29/19, 10:19 am CT. See below.] With ambitious sales goals and its stock trading at an all-time high this year, cancer diagnostics firm Exact Sciences decided to go shopping. The result is a deal announced Monday to acquire Genomic Health for $2.8 billion in cash and stock, a combination that Exact CEO Kevin Conroy … Continue reading “Exact Sciences Buying Genomic Health in $2.8B Cancer Diagnostics Deal”
Leaving Carbonite, Mohamad Ali Joins IDG to Make It a Tech Company
Mohamad Ali’s departure from Carbonite’s corner office didn’t follow the usual tech executive roadmap to which even his earlier career had hewn. Ali’s career ran through posts building technology tools at IBM and Hewlett-Packard prior to joining Carbonite in 2014, so the move to head up International Data Group, a technology media, events, and research … Continue reading “Leaving Carbonite, Mohamad Ali Joins IDG to Make It a Tech Company”
Duchenne Advocates Start Casimir, Aiming to Capture Missing Data
Three years ago, the FDA made one of the most polarizing decisions in its history. It approved a drug for the rare genetic disease Duchenne muscular dystrophy on the slimmest of evidence, a watershed moment that caused a highly publicized rift within the agency. In the midst of it all were parents who pushed hard … Continue reading “Duchenne Advocates Start Casimir, Aiming to Capture Missing Data”
Boston Tech Watch: Carbonite, iRobot, Circle, Toast, & Flare Capital
CEO hopping in Boston, trade-war fallout, acquisitions, IPOs, and autonomous ships. This week in Boston tech news had it all. Read on for all the details. —Mohamad Ali is stepping down as CEO of data protection and backup company Carbonite after having led the growing public company since 2014. He is hopping industries a bit … Continue reading “Boston Tech Watch: Carbonite, iRobot, Circle, Toast, & Flare Capital”