What will the legacy be of Jeff Leiden, the longtime CEO of Vertex Pharmaceuticals? Vertex surprised Wall Street this week by announcing Leiden’s seven-year run will end next spring. In some ways, his legacy is already written. He steered Vertex through a crisis when its hepatitis C business was squashed by competition, in no small … Continue reading “Bio Roundup: Leiden’s Exit, Depression Data, a New Pricing Bill & More”
Category: Boston
No Co-Founder? Y Combinator Offers Matchmaking at Startup School
From the moment Talia Frenkel resolved to found a company after a kitchen-table talk with her parents, the odds were against her. There were a host of reasons—she wasn’t a software engineer, she had no product development experience, and she wanted to launch a consumer item that was already sold widely by established enterprises. Yet … Continue reading “No Co-Founder? Y Combinator Offers Matchmaking at Startup School”
“You Get What You Celebrate”: Net@50 Gives the Internet Its Due
Talk at the Xconomy and the World Frontiers Forum’s Net@50 event started with a simple phrase about taco toppings and ended with discussion of a brain-computer interface that could perhaps enable a collective intelligence. Net@50 last week explored the internet’s past, present, and future with thoughts from a rare group of engineers who imagined and … Continue reading ““You Get What You Celebrate”: Net@50 Gives the Internet Its Due”
Carbonite CEO Mohamad Ali Leaves for International Data Group
[Updated 7/25/19, 9:05 pm. Added comments from Carbonite executives.] Carbonite’s Mohamad Ali is stepping down as CEO and board member of the Boston-based data protection company to lead International Data Group, a technology media, events, and research company. For now, the helm at Carbonite (NASDAQ: [[ticker:CARB]]) will be taken up by board chairman Steve Munford, … Continue reading “Carbonite CEO Mohamad Ali Leaves for International Data Group”
Obsidian Appoints Stehman-Breen Chief Development Officer
Catherine Stehman-Breen is joining Obsidian Therapeutics as chief development officer. She was most recently an entrepreneur in residence at Atlas Venture, where she held the chief medical officer positions at Dyne Therapeutics and Disarm Therapeutics, two of the venture capital firm’s portfolio companies. Stehman-Breen’s experience also includes posts at Sarepta Therapeutics (NASDAQ: [[ticker:SRPT]]), Regeneron Pharmaceuticals … Continue reading “Obsidian Appoints Stehman-Breen Chief Development Officer”
As Castle Bio Jumps on IPO Train, Industry Trends Suggest Slowdown
Castle Biosciences is joining the public markets through a $64 million IPO that will support cancer tests that help doctors make treatment decisions. On Wednesday evening, Castle priced its offering of 4 million shares at $16 apiece, which was the high end of its targeted price range. The Friendswood, TX, company had previously planned to … Continue reading “As Castle Bio Jumps on IPO Train, Industry Trends Suggest Slowdown”
Jeff Leiden, Who Shaped Vertex Into a CF Force, to Switch Roles
Jeff Leiden, who helped steer Vertex Pharmaceuticals out of a crisis and into a profitable developer of cystic fibrosis medicines, will step down as the CEO of the Boston company next spring. In a surprising announcement, Vertex (NASDAQ: [[ticker:VRTX]]) said Thursday morning that Leiden (pictured), who has run the company for about seven years, will … Continue reading “Jeff Leiden, Who Shaped Vertex Into a CF Force, to Switch Roles”
Bristol, With Another Lung Cancer Flop, Loses More Ground to Merck
Bristol-Myers Squibb (NYSE: [[ticker:BMY]]) this afternoon revealed yet another setback for its cancer immunotherapy nivolumab (Opdivo) in lung cancer, boosting the outlook for rival Merck. The New York pharma giant said that a regimen of nivolumab (Opdivo) and chemotherapy failed to extend the lives of non-squamous, non-small cell lung cancer patients compared to chemo alone … Continue reading “Bristol, With Another Lung Cancer Flop, Loses More Ground to Merck”
50 Photos From Net@50: The Roots and Future of the Internet
Last week marked a historic occasion. As the world commemorated the 50th anniversary of humankind setting foot on the moon for the first time, Xconomy and the World Frontiers Forum convened an incredible group at the MIT Media Lab to celebrate another monumental achievement a half century ago: the birth of the internet. The Net@50 … Continue reading “50 Photos From Net@50: The Roots and Future of the Internet”
The Entrepreneurial Potential of Cannabis
Recreational marijuana is now legal here in Massachusetts and it seems that everywhere you look, people are excited to create business ventures around it. But, like any other business endeavor, research, planning, and discipline are essential – maybe even more so given the legal and regulatory issues involved with cannabis. As of now, marijuana is fully legal … Continue reading “The Entrepreneurial Potential of Cannabis”
Freenome Snags $160M to Boost Blood Test for Early Cancer Detection
Freenome, one of the rivals racing to detect the earliest signs of cancer through blood tests, announced Wednesday it has raised $160 million in a Series B funding round. The money boosts Freenome’s fundraising total to $238 million. It’s a boon for the South San Francisco startup founded in 2014, but not an unusual haul … Continue reading “Freenome Snags $160M to Boost Blood Test for Early Cancer Detection”
TScan Lands $48M for Better, Safer T-Cell Receptor Cancer Therapies
Despite the progress of therapies that coax the immune system to fight cancer, these treatments don’t work for all patients. When they are effective, some patients experience serious side effects. TScan Therapeutics CEO David Southwell says his company aims to improve cancer immunotherapy on both fronts. TScan’s research is still in the lab, but the … Continue reading “TScan Lands $48M for Better, Safer T-Cell Receptor Cancer Therapies”
Proteostasis Names Gilmartin Chief Medical Officer, Succeeding Lee
Geoffrey Gilmartin is taking on a new role at Proteostasis Therapeutics (NASDAQ: [[ticker:PTI]]) as its chief medical officer. He will succeed Po-Shun Lee, who will become a consultant to the Boston-based cystic fibrosis (CF) drug developer after serving in the CMO role for the past four years. Gilmartin joined Proteostasis in 2016 as chief development … Continue reading “Proteostasis Names Gilmartin Chief Medical Officer, Succeeding Lee”
With Regulator’s Nod, Bosch Plans Spread of Driverless Valet Parking
Mass fleets of self-driving cars have yet to arrive on our streets, but people are already worrying about where they’re going to park. If they all just circle around city blocks, competing to offer on-demand rides, they could slow traffic to a crawl, industry observers say. Autonomous robotaxi services like Alphabet unit Waymo’s are still … Continue reading “With Regulator’s Nod, Bosch Plans Spread of Driverless Valet Parking”
Healthtech Investor Flare Capital Raises $255M for Second Fund
Flare Capital Partners, a Boston-based venture capital firm investing in healthcare technology, has raised $255 million for its second fund. Co-founder and general partner Michael Greeley says his focus had been to keep the new fund in the mid-sized range, large enough to make follow-on investments into companies’ later rounds, but not too large. “As … Continue reading “Healthtech Investor Flare Capital Raises $255M for Second Fund”
Former Enzyvant Exec Alvin Shih Named CEO of Disarm Therapeutics
Disarm Therapeutics has appointed Alvin Shih to serve as its president and CEO. He was most recently CEO of rare disease drug developer Enzyvant. Shih’s experience also includes posts at Retrophin (NASDAQ: [[ticker:RTRX]]) and Pfizer (NYSE: [[ticker:PFE]]). Cambridge, MA-based Disarm is developing drugs that target SARM1, a protein that plays a role in nerve deterioration in … Continue reading “Former Enzyvant Exec Alvin Shih Named CEO of Disarm Therapeutics”
Software Intelligence Firm Dynatrace Aims to Raise $427M in IPO
[Updated 7/22/19, 1:15 pm: Added IPO timing and updated headline.] Enterprise software business Dynatrace plans to take in $427.2 million from its initial public offering, the Waltham, MA-based company says in a new filing that sets the terms for its intended public market debut. The company says it will sell 35.6 million shares at a potential … Continue reading “Software Intelligence Firm Dynatrace Aims to Raise $427M in IPO”
Joyn Bio Reaches Deal to Tap Into NewLeaf’s Plant Microbe Library
Joyn Bio, a biotech company developing microbes engineered for agricultural applications, is adding microbes from NewLeaf Symbiotics to its toolbox in an effort to get to market faster and expand the scope of its research. The partnership announced Monday gives Joyn access to NewLeaf’s library of plant-colonizing microbes. Joyn, which is based in Boston and … Continue reading “Joyn Bio Reaches Deal to Tap Into NewLeaf’s Plant Microbe Library”
X·CON 2019: Digital Health Gets Real
Join Xconomy for our annual X·CON, an elite business conference at the deCordova Sculpture Park and Museum in Lincoln, MA—just outside of Boston. This year’s summit, focused on the realities of digital health, is aimed at leaders who seek answers to the industry’s most urgent questions—and want to participate in shaping its future.
Could Facebook’s Crypto Break Financial System? Congress Airs Fears
In late 2017, a federal watchdog unit assigned a working group to keep an eye on cryptocurrencies such as Bitcoin, and to sound an alert if those alternate currencies showed signs of becoming a risk to the stability of the US financial system. Soaring prices of Bitcoin and other so-called digital tokens were attracting investments … Continue reading “Could Facebook’s Crypto Break Financial System? Congress Airs Fears”
Bio Roundup: Opioid Exposé, Gilead’s Gambit, Life Science IPOs & More
The opioid crisis reaches all corners of the nation, and newly released data this week revealed how the growth of the epidemic tracked with a massive increase in the production and distribution of these drugs. From 2006 to 2012, the number of pills distributed to pharmacies increased by more than 50 percent. In total, 76 … Continue reading “Bio Roundup: Opioid Exposé, Gilead’s Gambit, Life Science IPOs & More”
Boston Tech Watch: Medumo, Zilla, Armored Things, Fortify & More
The week in Boston tech news hit on all the highlights: health technology, 3D printing, crypto, blockchain, CEO moves, fintech, and plenty of venture cash. Read on for the details: —Healthcare technology startup Medumo has been acquired by Netherlands-based Philips (NYSE: [[ticker:PHG]]). The company’s patient navigation technology provides instructions and patient resources through text message … Continue reading “Boston Tech Watch: Medumo, Zilla, Armored Things, Fortify & More”
VMWare Plans to Acquire Bitfusion for Application-Enhancing Software
Austin—VMWare announced Thursday it intends to acquire Bitfusion, a startup with offices in Austin, TX and Silicon Valley that makes software aimed at optimizing the way hardware such as graphic processing units are used by applications. Terms were not disclosed. Bitfusion’s software is particularly useful for companies using artificial intelligence and machine learning technology in … Continue reading “VMWare Plans to Acquire Bitfusion for Application-Enhancing Software”
Kronos Bio Reels In $105M for Drugs That Hit “Undruggable” Targets
Kronos Bio has raised $105 million in financing to develop therapies intended to target disease-causing proteins that have so far eluded the best efforts of drug hunters. The Series A round of funding announced Thursday was led by Vida Ventures and Omega Funds. Drugs typically work by either binding to a target site on a … Continue reading “Kronos Bio Reels In $105M for Drugs That Hit “Undruggable” Targets”
Genmab, Mirum Pharma & Fulcrum Raise $653M in Wall Street Debuts
Initial public offerings took a brief summer break the week of Independence Day, but healthcare IPO activity resumed this week as three more companies joined the US public markets. Here’s a recap of the biotech companies that priced IPOs Wednesday evening. —Genmab is different from the other life science companies that joined the public markets … Continue reading “Genmab, Mirum Pharma & Fulcrum Raise $653M in Wall Street Debuts”
Pandion Therapeutics Picks Corvidia’s Rahul Kakkar for CEO
Rahul Kakkar is the new CEO of Pandion Therapeutics. He has also joined the Cambridge, MA, company’s board of directors. Kakkar was most recently chief medical officer and chief strategy officer of Corvidia Therapeutics. He succeeds Pandion founder Anthony Coyle, who is leaving the company. In other moves, Jo Viney, a founder and chief scientific … Continue reading “Pandion Therapeutics Picks Corvidia’s Rahul Kakkar for CEO”
Navitor Pharmaceuticals Names Randy Owen Chief Medical Officer
Navitor Pharmaceuticals has appointed James Randall “Randy” Owen to serve as its chief medical officer, the same position he held at Acadia Pharmaceuticals. Owen’s experience also includes roles at Lundbeck, Abbott (NYSE: [[ticker:ABT]]), Merck (NYSE: [[ticker:MRK]]), and Bristol-Myers Squibb (NYSE: [[ticker:BMY]]). Cambridge, MA-based Navitor is developing drugs that target a cellular signaling pathway known as … Continue reading “Navitor Pharmaceuticals Names Randy Owen Chief Medical Officer”
San Antonio to Honor Regenerative Medicine Pioneer Stephen Badylak
San Antonio — Ah, to be able to regrow a missing limb like a slimy salamander—a trick long dreamed of by youngsters and scientists alike. Research into such regenerative abilities has increasingly excited the scientific community during the past 30 years as it has gained further insight into the potential of the extracellular matrix, a … Continue reading “San Antonio to Honor Regenerative Medicine Pioneer Stephen Badylak”
Skyhawk Inks Deal With Genentech for Cancer and Neuro Drug Discovery
Skyhawk Therapeutics has added Genentech to the growing list of companies it’s working with to find new drugs. The deal with Genentech, a Roche subsidiary, calls for Cambridge, MA-based Skyhawk to use its technology to discover and develop RNA-targeting drugs for cancer and neurological diseases. Under the deal announced Tuesday, Genentech receives an exclusive license … Continue reading “Skyhawk Inks Deal With Genentech for Cancer and Neuro Drug Discovery”
Kymera CEO Laurent Audoly Departs, Nelllo Mainolfi Named President
Laurent Audoly, president and CEO of Kymera Therapeutics, is leaving “to pursue new entrepreneurial opportunities,” the Cambridge, MA, company announced Monday. Co-founder and chief scientific officer Nello Mainolfi has been appointed president, overseeing all company operations. He will also continue as CSO. Kymera said a search for a new CEO is underway. In other moves, … Continue reading “Kymera CEO Laurent Audoly Departs, Nelllo Mainolfi Named President”
Sanofi’s Alison Schecter Tapped as Selecta Bio Chief Medical Officer
Selecta Biosciences (NASDAQ: [[ticker:SELB]]) has appointed Alison Schecter to serve as chief medical officer. Schecter joins Watertown, MA-based Selecta from Sanofi (NYSE: [[ticker:SNY]]) where she was global project head in rare diseases. Her experience also includes positions at Baxalta, the Northeast J&J Innovation Center, and the Novartis Institutes of Biomedical Research. Lead Selecta drug candidate … Continue reading “Sanofi’s Alison Schecter Tapped as Selecta Bio Chief Medical Officer”
Aura Wants to Take Its $150M and Stock a Consumer Cybersecurity Toolbox
Two recently combined consumer cybersecurity companies are heading off under a new branding to make a run at providing some online peace of mind for regular folks, and they’re doing it with $150 million in capital from Boston-area venture firm General Catalyst and WndrCo, the West Coast technology investor run by former Disney chairman Jeffrey … Continue reading “Aura Wants to Take Its $150M and Stock a Consumer Cybersecurity Toolbox”
Lendbuzz, AI Auto Startup That Steps in When FICO Fails, Raises $150M
No traditional credit history? No problem. At least that’s how Lendbuzz, a startup that uses artificial intelligence to underwrite auto loans, sees it. The Boston-based software company announced Monday it has raised $150 million in new funding to expand its team and issue more financing backed by its machine learning algorithms. Most of the cash—$130 … Continue reading “Lendbuzz, AI Auto Startup That Steps in When FICO Fails, Raises $150M”
Narrowing AI: A Useful Context for AI Innovation, Opportunity, and Investment
I was asked recently if there was a meaningful analog to AI – its pervasiveness, its transformative potential, its power – in the annals of technology, and I answered with a straight face: “Yes. The Wheel. The Printing Press. Electricity. The Internet.” I truly believe AI is going to be that big, if not bigger, … Continue reading “Narrowing AI: A Useful Context for AI Innovation, Opportunity, and Investment”
Neon’s Early Vaccine Study Is a Peek at Immunotherapy’s Third Wave
In this new age of cancer immunotherapy, two versions have been approved. The first are checkpoint inhibitors, which have begun to change the way skin, lung, and other cancers are treated. The second are CAR-T cell therapies, which have shown promise in blood cancers. A third type of cancer immunotherapy is just now reaching clinical … Continue reading “Neon’s Early Vaccine Study Is a Peek at Immunotherapy’s Third Wave”
Boston Tech Watch: Cisco, Acacia, Great Hill Partners & GNS Healthcare
Billions with a “b” is the word of the week in Boston tech news, with Cisco paying a couple billion dollars for a Massachusetts tech firm and PE firm Great Hill Partners closing its latest ten-digit growth fund. Read these stories and more in this week’s roundup: —Nebulous, a Boston company developing a cloud storage … Continue reading “Boston Tech Watch: Cisco, Acacia, Great Hill Partners & GNS Healthcare”
Bio Roundup: Michael Becker, Suzanne Eaton, Gene Therapy Moves & More
The life science and healthcare worlds are vast. We often talk about impact in terms of millions of patients and billions of dollars. But these worlds can be small, too. It seems at times we’re never far removed from any one person, through their published papers, social media connections, friends, colleagues, or people they’ve mentored. … Continue reading “Bio Roundup: Michael Becker, Suzanne Eaton, Gene Therapy Moves & More”
Amgen, Novartis BACE Inhibitor Joins List of Failed Alzheimer’s Drugs
Amgen and Novartis are stopping work on an experimental Alzheimer’s disease drug after an early look at clinical data showed worsening cognitive function in patients. The interim results announced Thursday were part of a pre-planned review of data from two pivotal clinical trials testing the drug, umibecestat. Based on that review, Amgen (NASDAQ: [[ticker:AMGN]]) and … Continue reading “Amgen, Novartis BACE Inhibitor Joins List of Failed Alzheimer’s Drugs”
Proclara’s Suzanne Bruhn Named CEO of Tiaki Therapeutics
Suzanne Bruhn has been appointed CEO and president of Tiaki Therapeutics. She is also joining the Cambridge, MA, company’s board of directors. Bruhn succeeds interim CEO Barbara Tate, who will remain on the Tiaki board. Bruhn was most recently president and CEO of Proclara Biosciences. Her experience also includes roles at Promedior, Shire, and Cytotherapeutics. … Continue reading “Proclara’s Suzanne Bruhn Named CEO of Tiaki Therapeutics”
Trump Kills His Administration’s Plan to End Secret Drug Rebates
Donald Trump’s criticism of high drug prices began during the 2016 presidential campaign and continued through his presidency, perhaps most famously just before his inauguration when he said that drug companies were “getting away with murder.” This week has underlined the gap between the administration’s rhetoric and results. Most strikingly, the White House said last … Continue reading “Trump Kills His Administration’s Plan to End Secret Drug Rebates”
Former Merrimack Pharma Exec Richard Peters to Join Yumanity as CEO
Yumanity Therapeutics has appointed Richard Peters to serve as its CEO. He is also joining the Cambridge, MA, company’s board of directors. Peters recently resigned as president and CEO of Merrimack Pharmaceuticals (NASDAQ: [[ticker:MACK]]), which has been selling assets in the wake of clinical trial setbacks. Prior to working at Merrimack, Peters was an executive … Continue reading “Former Merrimack Pharma Exec Richard Peters to Join Yumanity as CEO”
Record Exit Value for VC-Backed Startups Could Fuel Investment
More than a third of the companies that went public in the first half of this year were backed by venture capital. That, plus robust merger and acquisition activity, set a record for venture-backed exit value—$165.2 billion in money returned to investors—that’s already topped all other full-year totals, according to the latest VentureMonitor, the quarterly … Continue reading “Record Exit Value for VC-Backed Startups Could Fuel Investment”
The Finalists for the 2019 Xconomy Awards Are …
After a robust discussion, the editors and judges have narrowed down an impressive list of nearly 300 nominees for the 2019 Xconomy Awards in Boston to an all-star group of almost 60 finalists in 11 categories. Given the overall caliber of our nominees, we know it will be a tight race for the winners. Thankfully, we … Continue reading “The Finalists for the 2019 Xconomy Awards Are …”
Cisco Invests in Optical Tech With $2.6B Acacia Communications Deal
Cisco is buying Maynard, MA-based Acacia Communications (NASDAQ: [[ticker:ACIA]]) for $2.6 billion in a deal to boost the networking giant’s stock of optical technologies, the companies announced Tuesday. The deal values Acacia at $70 per share, a 46 percent premium to its closing stock price Monday, but still a bargain compared with Acacia’s peak share … Continue reading “Cisco Invests in Optical Tech With $2.6B Acacia Communications Deal”
Black Duck, Veracode Execs Relaunch Cloud Infrastructure Firm Fairwinds
From a host of angles, the business opportunity looked to be a hard one to pass up. The technology business up for sale was: one, self-funded and not saddled by mountains of outside equity; two, profitable and growing; and three, in the middle of the messy but booming world of enterprise software infrastructure. For the … Continue reading “Black Duck, Veracode Execs Relaunch Cloud Infrastructure Firm Fairwinds”
After Amgen’s Spark, Revolution Med Nabs $100M to Push RAS Cancer Drugs
In May, Amgen (NASDAQ: [[ticker:AMGN]]) revealed intriguing data from the first-ever human trial of a drug that targets tumors with a specific mutation to the gene KRAS, which occurs in about one-quarter of all cancers. Amgen showed 30 percent of lung cancer patients with the mutation saw their tumors shrink. Even though the data were … Continue reading “After Amgen’s Spark, Revolution Med Nabs $100M to Push RAS Cancer Drugs”
How Do YOU Think the Internet Will Evolve? A Sampling of Your Tweets
[Editor’s note: This is part of a series examining the internet’s first 50 years and predicting the next half century. Join Xconomy and World Frontiers Forum on July 16 for Net@50, an event exploring the internet’s past and future.] For my feature article “Special Report 2069: Predicting the Internet’s Next 50 Years,” I asked my Twitter … Continue reading “How Do YOU Think the Internet Will Evolve? A Sampling of Your Tweets”
From Buyout to Spinout to IPO? Dynatrace Eyes $300M Public Offering
Dynatrace, a 14-year-old enterprise software intelligence company, has filed papers to raise $300 million from an initial public stock offering aimed at restocking its war chest and shrinking its sizable debt. If it follows through on the IPO plans, the Waltham, MA-based company would list its shares on the New York Stock Exchange under the … Continue reading “From Buyout to Spinout to IPO? Dynatrace Eyes $300M Public Offering”
Boston FinTech Week 2019
From the event organizer: “This week of FinTech events is a collaboration between Boston’s accelerators, institutions, investors, startups, universities, and you. It’s a volunteer-led, grassroots effort to galvanize the local startup ecosystem. You’ll have the opportunity to join panels, crash courses, fireside chats, speed dating and much more. This year, we’ll focus an answering the … Continue reading “Boston FinTech Week 2019”
As Sangamo Touts Data, BioMarin Preps Hemophilia Gene Therapy For FDA
[Updated 7/8/19, 9:22 am. See below.] Gene therapy for hemophilia is as close as it’s ever been to market. And the race to get there got more heated this past weekend at a medical meeting in Australia. At the International Society on Thrombosis and Haemostasis meeting in Melbourne, Sangamo Therapeutics (NASDAQ: [[ticker:SGMO]]) and partner Pfizer … Continue reading “As Sangamo Touts Data, BioMarin Preps Hemophilia Gene Therapy For FDA”