Robert Zeldin has left Acceleron Pharma (NASDAQ: [[ticker:XLRN]]), where he was executive vice president and chief medical officer. Cambridge, MA-based Acceleron gave no reason for Zeldin’s departure, which comes just nine months after he joined the company. A search for Zeldin’s successor is underway. Last week, Acceleron and partner Celgene (NASDAQ: [[ticker:CELG]]) filed for FDA … Continue reading “Acceleron Pharma’s Chief Medical Officer Robert Zeldin Departs”
Category: Boston
Klaviyo Puts Google, Facebook, Amazon on Notice With $150M Raise
Klaviyo, a Boston e-commerce startup, wants retailers to take their advertising spending back from the tech behemoths Google, Amazon, and Facebook. The thinking behind the push, according to CEO Andrew Bialecki, is whether in the long term companies are better off handing over their ad dollars or doing the work and “owning” the marketing themselves. … Continue reading “Klaviyo Puts Google, Facebook, Amazon on Notice With $150M Raise”
Four Things Every Smart Startup Should Do as It Scales
Your startup began as “four smart people with laptops and a vision.” Fast-forward a few years and it’s a bona fide business with investors, employees, and a snappy logo. Stay on this path, and signs are good that you’ll continue to grow. It’s easy and convenient to keep doing what you’ve been doing as you … Continue reading “Four Things Every Smart Startup Should Do as It Scales”
Global Detroit, U-M Team on Program to Boost Immigrant-Led Startups
The American Dream was once a fairly simple concept: The nation would welcome strivers from across the world and invite them to pull themselves up by their bootstraps, work hard, pay taxes, and become contributing citizens. However, immigration has become a highly charged political issue in the current era, making things more complicated. That’s one … Continue reading “Global Detroit, U-M Team on Program to Boost Immigrant-Led Startups”
Alnylam Gets $800M From Regeneron to Bring RNAi to Eye, Brain Diseases
Alnylam and Regeneron Pharmaceuticals are announcing a wide-ranging alliance this morning to co-develop treatments for eye and neurological diseases using RNA interference, a method of drugmaking that has recently come of age after years of ups and downs. Regeneron (NASDAQ: [[ticker:REGN]]), of Tarrytown, NY, will pay Alnylam (NASDAQ: [[ticker:ALNY]]) $400 million in cash up front … Continue reading “Alnylam Gets $800M From Regeneron to Bring RNAi to Eye, Brain Diseases”
Braeburn Pharma’s Malamut Joins Collegium as Chief Medical Officer
Richard Malamut has been appointed chief medical officer of Collegium Pharmaceutical (NASDAQ: [[ticker:COLL]]). He joins the Stoughton, MA, company from Braeburn Pharmaceuticals, where he was chief medical officer, head of research and development, and senior vice president. Malamut’s experience also includes posts at Avanir Pharmaceuticals and Teva Pharmaceutical (NYSE: [[ticker:TEVA]]). Collegium develops and sells pain … Continue reading “Braeburn Pharma’s Malamut Joins Collegium as Chief Medical Officer”
Celgene Files for FDA Approval of Blood Disease Drug
An experimental blood disease drug cited as one of Celgene’s key pipeline assets has been filed for FDA approval. Summit, NJ-based Celgene (NASDAQ: [[ticker:CELG]]) said Friday that it submitted the application for luspatercept as a treatment for patients who have anemia, or low red blood cell counts, caused by either of two blood diseases: myelodysplastic … Continue reading “Celgene Files for FDA Approval of Blood Disease Drug”
Boston Tech Watch: Huawei, Care.com, Cambridge Blockchain & PayPal
Investors took restaurant technology startups out to lunch with monster nine-figure funding rounds. The Wall Street Journal investigation into Care.com leads investors to sue in Boston. MIT kicks Huawei and ZTE to the curb. Read these and more in this week’s Boston tech news: —MIT cut ties with Chinese technology giant Huawei and ZTE “due … Continue reading “Boston Tech Watch: Huawei, Care.com, Cambridge Blockchain & PayPal”
Bio Roundup: Gottlieb’s Goodbye, AACR Recap, Migraine Drug Fight & More
Scott Gottlieb’s last day as FDA commissioner is today. His resignation announcement last month surprised some, given the earlier denials about leaving. But after two years of commuting between Connecticut, where his family remained, and the FDA’s Maryland headquarters, he decided to step down from the agency. What will Gottlieb’s legacy be? His efforts to … Continue reading “Bio Roundup: Gottlieb’s Goodbye, AACR Recap, Migraine Drug Fight & More”
Skills, Pills, & Hospital Bills: Amazon Debuts Alexa Health Features
Owners of Amazon’s voice-controlled, Internet-connected speakers can now use the gadgets to manage more aspects of their healthcare, following the company’s announcement Thursday that its Alexa devices can interface with software applications that process protected health information. As part of the announcement, Amazon (NASDAQ: [[ticker:AMZN]]) unveiled six “Alexa healthcare skills,” which allow patients to book … Continue reading “Skills, Pills, & Hospital Bills: Amazon Debuts Alexa Health Features”
C-Motive Powers Up With $2M to Launch Reimagined Electric Motor
C-Motive Technologies, a small startup in Madison, WI, wants to overhaul the electric motors that power electric vehicles, assembly-line robots, aircraft propellers, and other machines. Now, investors are betting on the company’s vision. This week, C-Motive announced it closed a $2 million investment led by Prime Impact Fund, a Boston-area fund that invests philanthropic dollars … Continue reading “C-Motive Powers Up With $2M to Launch Reimagined Electric Motor”
Report: Biogen, Novartis Should Drop Prices of Billon-Dollar SMA Drugs
A new report from a U.S. drug-pricing watchdog takes issue with the high cost of the only approved treatment for spinal muscular atrophy (SMA), a rare genetic disease that affects young children and in some cases leads to a quick death. The report, from the Boston-based Institute for Clinical and Economic Review (ICER), is loaded … Continue reading “Report: Biogen, Novartis Should Drop Prices of Billon-Dollar SMA Drugs”
Charles River Labs Says It Will Close San Diego Research Facility
Contract research organization Charles River Labs is shutting down its San Diego-area operations, moving the work done there to one of its two Northern California sites. In a filing with California’s Employment Development Department, Wilmington, MA-based Charles River (NYSE: [[ticker:CRL]]) said it would lay off 24 workers by May 20 in connection with the closure. … Continue reading “Charles River Labs Says It Will Close San Diego Research Facility”
Procrastinators Special: Save on Tickets for Cyber Madness on Monday
As March Madness draws to a close, so does your chance to grab a ticket to Xconomy’s premier spring event in Boston, “Cyber Madness: Case Studies in Security.” On April 8, we’re gathering security-tech founders, executives, and investors, as well as IT leaders from sectors such as finance, legal, and healthcare for an afternoon of … Continue reading “Procrastinators Special: Save on Tickets for Cyber Madness on Monday”
AACR 2019 Roundup: Notes from a Weekend of Early Stage Cancer Results
[Editor’s note: Alex Lash co-authored this report] The American Association for Cancer Research’s annual meeting is wrapping up in Atlanta today. The conference typically focuses on early research and clinical work, not the big trials that can change the way doctors practice medicine and that compete for headline space at conferences like the American Society … Continue reading “AACR 2019 Roundup: Notes from a Weekend of Early Stage Cancer Results”
Dyne Therapeutics Emerges With $50M to Take On Rare Muscle Disease
One problem with drugs for muscular disorders is that not enough medicine reaches the muscle, says Romesh Subramanian, CEO of Dyne Therapeutics. Subramanian’s startup has developed a way to deliver drugs to all muscle types, and it is emerging from stealth with $50 million in funding to advance its compounds toward human testing. Dyne was … Continue reading “Dyne Therapeutics Emerges With $50M to Take On Rare Muscle Disease”
Vertex Pharmaceuticals Taps Ortho Clinical’s Wagner for CFO Post
Two months after Vertex Pharmaceuticals (NASDAQ: [[ticker:VRTX]]) terminated its top financial executive for “personal behavior,” the Boston company has named a permanent replacement. Vertex, a developer of drugs for cystic fibrosis and other diseases, announced Charles Wagner will join the company as executive vice president and CFO. Wagner is currently CFO and executive vice president … Continue reading “Vertex Pharmaceuticals Taps Ortho Clinical’s Wagner for CFO Post”
Formlabs Makes Inroads in “Hype-Driven” Sector With New 3D Printers
Formlabs founder and CEO Max Lobovsky still sees a fair amount of hype swirling around the 3D printing world. He claims to have never been onboard with the Jetsons-like vision of a 3D printer as a household appliance that spits out toys, kitchen utensils, furniture—anything that can be imagined, really. “We started with the thinking … Continue reading “Formlabs Makes Inroads in “Hype-Driven” Sector With New 3D Printers”
“FacePalm” Bug Is a Jarring Wake-Up Call. And Not Just for Apple
Apple is a global icon. It was the first company in the world to reach a $1 trillion market capitalization, and it is the most valuable company in the world today. For the second year in a row, Apple ranked as the world’s most-admired company, in a Fortune survey of 3,750 business executives. PC magazine … Continue reading ““FacePalm” Bug Is a Jarring Wake-Up Call. And Not Just for Apple”
Xconomy Is Hiring a Digital Product Manager—Apply Here
If you (or someone you know) is an expert web developer/designer and product manager with a passion for journalism, then we want you! We’re looking for someone to join our Boston office and take charge of the Xconomy.com website: help us maintain the site, figure out what needs improving, and then work with a global … Continue reading “Xconomy Is Hiring a Digital Product Manager—Apply Here”
EzCater Celebrates “Unicorn” Status After $150M Funding Round
Stefania Mallett was sitting at her kitchen table when she wrapped up the details behind her catering technology startup ezCater’s latest funding round, a $150 million investment. Mallett shared the details to her husband before the size of the occasion sank in. “I’m busy, already onto the next thing. He said, ‘Wait, that is a … Continue reading “EzCater Celebrates “Unicorn” Status After $150M Funding Round”
Surface Oncology Appoints Wendy Dwyer Chief Business Officer
Wendy Dwyer has joined Surface Oncology (NASDAQ: [[ticker:SURF]]) as chief business officer, the same role she had most recently at privately held Portal Instruments. Her experience also includes positions at AstraZeneca (NYSE: [[ticker:AZN]]) and Ipsen Biosciences. Cambridge, MA-based Surface, which went public last year, is developing cancer immunotherapies.
Toast Rings Up $250M, Pledges $1B for Software and Hardware R&D
Restaurant technology startup Toast is stocking up its bank accounts with a new $250 million funding round the Boston company says is needed to keep pace with tech-hungry eateries’ interest in its point-of-sale software and devices. The funds come less than a year after Toast raised a $115 million Series D round and joined the … Continue reading “Toast Rings Up $250M, Pledges $1B for Software and Hardware R&D”
SpringWorks, Armed with Ex-Pfizer Cancer Drugs, Reloads with $125M
SpringWorks Therapeutics, a startup spun out of Pfizer to develop drugs gathering dust on the New York pharma giant’s shelves, has closed its second nine-figure financing round in less than two years. The $125 million Series B funding gives the New York City startup the backing to bring two cancer drugs into what could be … Continue reading “SpringWorks, Armed with Ex-Pfizer Cancer Drugs, Reloads with $125M”
Novartis Adds Inflammation Drugs to Pipeline with Deal for IFM Tre
Less than a year after launching and only days after advancing its lead program into clinical trials, drug developer IFM Tre is in line to be acquired by Novartis. According to an agreement announced Monday, Novartis (NYSE: [[ticker:NVS]]) will acquire all of the outstanding stock of privately held IFM. The Basel, Switzerland-based pharmaceutical giant will … Continue reading “Novartis Adds Inflammation Drugs to Pipeline with Deal for IFM Tre”
Panel Nod Moves Bluebird’s Gene Therapy Closer to Europe’s Market
A one-time, long-lasting treatment for the genetic blood disease beta thalassemia looks to be the next gene therapy on its way to market—at least, for now, in Europe. The Committee for Medicinal Products for Human Use, which guides drug approval decisions in Europe, has recommended a “conditional” approval—on a thinner body of evidence than normal—of … Continue reading “Panel Nod Moves Bluebird’s Gene Therapy Closer to Europe’s Market”
Go Behind the Hacker Frontlines at Cyber Madness in Boston April 8
Criminal hackers might get most of the headlines, but there are plenty of “ethical” hackers helping companies and organizations spot and fix vulnerabilities in their cyber defenses. On April 8, you can go behind the scenes of the hacker frontlines at Xconomy’s “Cyber Madness: Case Studies in Security,” an afternoon conference in Boston focused on … Continue reading “Go Behind the Hacker Frontlines at Cyber Madness in Boston April 8”
Boston Tech Watch: Tinkergarten, ezCater, Glasswing Ventures & More
[Updated 10:45 am 3/29/19.] Tech to get your kids out into nature raises some big bucks from some Hollywood tech giants, while restaurant software and automated payments also make big moves. Read on for more Boston tech news: —Outdoor child-education network Tinkergarten raised $21 million from the consumer technology fund WndrCo run by former Disney (NYSE: … Continue reading “Boston Tech Watch: Tinkergarten, ezCater, Glasswing Ventures & More”
Bio Roundup: Amyloid Angst, NASH News, Brammer Bagged & More
A week after the failure of Biogen’s Alzheimer’s drug aducanumab, the ripple effects are still being felt—and not just by Biogen, which lost billions of dollars in market value in a flash. We’ll kick off this week’s roundup with the aducanumab reaction, which includes plenty of thoughts about the future of the so-called “amyloid hypothesis” … Continue reading “Bio Roundup: Amyloid Angst, NASH News, Brammer Bagged & More”
Lyft Raises $2.2B in IPO, Pegging Valuation at Over $24B
Investors eager to bet on the mobility industry’s future handed ride-hailing company Lyft $2.2 billion in new capital Thursday as the company completed an IPO that set its market capitalization at $24.3 billion, The New York Times reported. Lyft sold 30.8 million shares at $72 apiece, according to Renaissance Capital—the top of a new range … Continue reading “Lyft Raises $2.2B in IPO, Pegging Valuation at Over $24B”
Pfizer’s Willem Scheele Joins Imara as Chief Medical Officer
Imara has hired Willem Scheele to serve as its as chief medical officer. Before joining the Cambridge, MA, biotech, Scheele was executive director and clinician group lead in rare diseases for Pfizer (NYSE: [[ticker:PFE]]). Scheele’s new role at Imara follows the company’s recent $63 million Series B round of funding. Imara emerged from biotech accelerator … Continue reading “Pfizer’s Willem Scheele Joins Imara as Chief Medical Officer”
Eyal Attar Leaves Agios for Chief Medical Officer Role at Aprea
Aprea Therapeutics has appointed Eyal Attar senior vice president and chief medical officer. Attar joins Aprea from Agios Pharmaceuticals, where he was senior medical director and IDH hematology medical lead. Aprea, which splits its operations between Boston and Stockholm, Sweden, is developing therapies that target the tumor suppressor protein p53. The company’s most advanced drug … Continue reading “Eyal Attar Leaves Agios for Chief Medical Officer Role at Aprea”
Ex-Novartis Exec Aradhye Joins Axcella as Chief Development Officer
Shreeram Aradhye has been appointed executive vice president and chief development officer of Axcella Health. Aradhye was most recently chief medical officer and global head of medical affairs for Novartis (NYSE: [[ticker:NVS]]). Cambridge, MA-based Axcella is developing drugs intended to regulate human metabolism. The company has early-stage programs addressing liver and muscular disorders.
So You Want to Start a Cybersecurity Company?
Cybercrime has become a global epidemic. Attacks will cost the world $6 trillion by 2021, research firm Cybersecurity Ventures says-–the greatest transfer of economic wealth in history and more profitable than the trade in all major illegal drugs. As the threat keeps rising, the cybersecurity industry keeps growing. According to data released in January by … Continue reading “So You Want to Start a Cybersecurity Company?”
Precision Bio’s IPO Raises $126M for Pipeline of Gene-Edited Drugs
Precision BioSciences has joined the club of publicly traded gene editing biotech companies, raising $126 million in its stock market debut. On Wednesday evening, Durham, NC-based Precision Bio sold 7.9 million shares for $16 apiece, which was right in the middle of its targeted price range. Those shares are expected to begin trading on the … Continue reading “Precision Bio’s IPO Raises $126M for Pipeline of Gene-Edited Drugs”
FTC Queries Internet Providers on Consumer Data Collection and Use
The Federal Trade Commission, which has been digging into the privacy practices of tech giants Facebook and Google, is now training its sights on the internet service providers that bring us all our online content. In its role as a consumer protection agency, the FTC ordered Verizon, AT&T, T-Mobile, Comcast, Google Fiber, and other ISPs … Continue reading “FTC Queries Internet Providers on Consumer Data Collection and Use”
New Data Puts Aldeyra One Step Closer to FDA Filing for Eye Drug
Aldeyra Therapeutics has disclosed positive results from the first of multiple Phase 3 studies of a new type of inflammation-fighting medicine the Lexington, MA, company has been testing in a variety of conditions. The study Aldeyra (NASDAQ: [[ticker:ALDX]]) reports on this morning is a Phase 3 trial called “Alleviate,” which tested its drug reproxalap against … Continue reading “New Data Puts Aldeyra One Step Closer to FDA Filing for Eye Drug”
Business Travel Startup Lola Raises $37M to Double Headcount in Boston
[Corrected 3/26/19, 9:52 am. See below.] Business travel software startup Lola is keeping its foot on the gas. The Boston-based company is doubling its headcount—another 60 employees by the end of the year, mostly in sales and engineering—to keep up in the race to dominate the $1.6 trillion global travel market. Lola, started in 2016 … Continue reading “Business Travel Startup Lola Raises $37M to Double Headcount in Boston”
Analysts: Proteostasis Data Are No Boost vs. Vertex in Cystic Fibrosis
As with cancer and HIV infection, progress in treatment for the genetic disorder cystic fibrosis has come with ever-more sophisticated cocktails of drugs. Proteostasis Therapeutics (NASDAQ: [[ticker:PTI]]) is one of the firms trying to catch up to cystic fibrosis leader Vertex Pharmaceuticals (NASDAQ: [[ticker:VRTX]]), but data it reported this morning did not satisfy investors, who … Continue reading “Analysts: Proteostasis Data Are No Boost vs. Vertex in Cystic Fibrosis”
Qualcomm Backs Industrial IoT Security Firm CyberX in $18M Round
CyberX, an industrial “Internet-of-things” security startup, has raised $18 million in a funding round led by the venture arm of chip-maker Qualcomm (NASDAQ: [[ticker:QCOM]]) and Inven Capital, a cleantech and new energy fund based in Prague, the Czech Republic. Waltham, MA-based CyberX says it has seen rapid sales growth, which it attributes to boards of … Continue reading “Qualcomm Backs Industrial IoT Security Firm CyberX in $18M Round”
Thermo Bags Brammer For $1.7B as Gene Therapy Deal Spree Continues
Thermo Fisher Scientific late Sunday evening agreed to buy Brammer Bio for $1.7 billion, yet another bet by a large biopharmaceutical organization on the future of gene therapy. Thermo (NYSE: [[ticker:TMO]]), a Waltham, MA, developer of lab equipment, made an all-cash offer for Cambridge, MA-based Brammer, a contract manufacturer of gene therapy delivery tools known … Continue reading “Thermo Bags Brammer For $1.7B as Gene Therapy Deal Spree Continues”
Bolt Founder Ben Einstein Leaves Hardware Tech VC Firm
Ben Einstein, co-founder and general partner of hardware-focused investor Bolt, says he has left the venture capital firm he started as his partner, Grace, enters chemotherapy for a cancer diagnosis. “Through this gut-wrenching experience, the things I enjoy doing and that give me energy are clearer than ever: I am a builder,” Einstein wrote in … Continue reading “Bolt Founder Ben Einstein Leaves Hardware Tech VC Firm”
Boston Tech Watch: Notarize, Optimus Ride, LogRocket & More
The self-driving cars are coming (to a gated development near you). Board additions at a novel tech startup. Another big funding round for an industrial 3D printing startup. The Endeavor v. QinetiQ robot competition’s final chapter. Read on for more. —Online notary startup Notarize is adding senior LogMeIn and State Street executives to its board. … Continue reading “Boston Tech Watch: Notarize, Optimus Ride, LogRocket & More”
Bio Roundup: Sage Postpartum Help, Biogen Bids Adu, Heart Beats & More
One group of people in dire need of medical relief got good news this week. The first drug for postpartum depression was approved. With its complicated logistics, side effects, and potential high cost, it won’t be for everyone who experiences the condition—1 of every 9 U.S. women giving birth. But at least it’s an option. … Continue reading “Bio Roundup: Sage Postpartum Help, Biogen Bids Adu, Heart Beats & More”
Adieu to Adu: Biogen’s Big Alzheimer’s Bet Flops, Shares Routed
Another once-promising drug for Alzheimer’s disease has failed. And the news is devastating for the drug’s developer, Biogen (NASDAQ: [[ticker:BIIB]]), which went all in on a high-stakes gamble that its treatment, aducanumab, might succeed where so many others haven’t. This morning, Biogen reported that it is stopping two parallel, highly anticipated Phase 3 studies in … Continue reading “Adieu to Adu: Biogen’s Big Alzheimer’s Bet Flops, Shares Routed”
CRISPR Diagnostic Race Heats Up as Sherlock Bio Launches With $35M
The high-stakes race to use CRISPR gene editing technology to create medicines has been underway for years now, and human trials are just starting. But the idea of using CRISPR as a tool to detect and diagnose a disease has been gaining traction, too, and the launch of a new startup today called Sherlock Biosciences … Continue reading “CRISPR Diagnostic Race Heats Up as Sherlock Bio Launches With $35M”
As Exact Sciences’ Sales Surge, CEO Reflects on 10-Year Turnaround
A decade ago, Kevin Conroy took the CEO job at Exact Sciences, a cancer diagnostic firm on the brink of death. Five years later, the FDA greenlit the company’s first product, Cologuard, which marked the first non-invasive, stool-based DNA screening test approved for detecting colorectal cancer. In the five years since then, Exact (NASDAQ: [[ticker:EXAS]]) … Continue reading “As Exact Sciences’ Sales Surge, CEO Reflects on 10-Year Turnaround”
Pfizer Bolsters Gene Therapy Position with $51M Vivet Deal
Pfizer this morning added to its methodical push into the gene therapy field, paying $51 million for a 15 percent stake in Vivet Therapeutics and the option to buy the Parisian biotech in the future. Vivet is developing an experimental gene therapy, VTX-801, for the rare genetic disorder Wilson’s disease, which causes a potentially deadly … Continue reading “Pfizer Bolsters Gene Therapy Position with $51M Vivet Deal”
Flagship Reloads With $824M For Latest Growth Capital Fund
Flagship Pioneering, one of the Boston area’s top biotech company creators, has closed a new $824 million fund to help fuel the growth of its startups. The new fund—Special Opportunities Fund II—will complement the cash the firm uses to start its companies, much like the $285 million “Special Opportunities” fund the firm announced in 2016. In … Continue reading “Flagship Reloads With $824M For Latest Growth Capital Fund”
3D Printing Startup Markforged Raises $82M to Invest in Products
Venture capital seems to be onboard with the fourth industrial revolution. As the proud poster children for the tech-driven wave of change, industrial 3D printing companies have raised big dollars in the last few years, with Burlington, MA-based Desktop Metal in a $160 million funding round in January. And now Watertown, MA-based Markforged has punched … Continue reading “3D Printing Startup Markforged Raises $82M to Invest in Products”