An experimental cancer drug from Loxo Oncology has shown early signs that it might impact multiple tumor types, regardless of where in the body they originated. The clinical results come with caveats, but they add to a slowly growing body of evidence supporting so-called tumor “agnostic” drugs, which are markers for the progress of precision … Continue reading “Loxo Unveils More Data, Paves a Path Forward In Precision Oncology”
Category: Boston
Drug Price Watchdog ICER Deems Amgen Migraine Drug “Cost-Effective”
As Amgen approached an FDA decision last month for its migraine-prevention treatment, concern mounted that the drug would come at premium. In setting a price thousands of dollars less than expected, Amgen has won over one of the pharmaceutical industry’s fiercest drug price critics. The non-profit Institute for Clinical and Economic Review (ICER) assessed the … Continue reading “Drug Price Watchdog ICER Deems Amgen Migraine Drug “Cost-Effective””
Biotech Roundup: ASCO Ahead, CAMP4’s Cash, Ambien Tweeting & More
For the next five days, the oncology community’s attention will focus on Chicago. The Windy City is the home for the American Society of Clinical Oncology’s annual meeting, and it kicks off today. Many ASCO attendees will zero in on potential cancer drug combinations. They’re seen as the key to expanding the reach of caner … Continue reading “Biotech Roundup: ASCO Ahead, CAMP4’s Cash, Ambien Tweeting & More”
Boston Tech Watch: FrontStream, M.Gemi, Lendbuzz, Gravyty, CyberSaint
Here are some of the latest investments and acquisitions in Boston-area tech: —Boston-based Lendbuzz grabbed a $30 million investment led by BHI USA, the U.S. division of Israel-based Bank Hapoalim Group, according to an announcement e-mailed to Xconomy. The online lending startup has raised a total of $45 million in equity and debt funding since launching … Continue reading “Boston Tech Watch: FrontStream, M.Gemi, Lendbuzz, Gravyty, CyberSaint”
Drugs OK’d To Hit Tumor Genes Still a Basket of One. Are More Coming?
[Corrected 6/4/18, 1:53 a.m. ET. See below.] One year ago, the FDA made biomedical history. A cancer drug, pembrolizumab (Keytruda), was approved to treat tumors with a specific genetic fingerprint regardless of their location in the body. It was the first tissue-agnostic approval of a cancer drug, and it was a big shift for the … Continue reading “Drugs OK’d To Hit Tumor Genes Still a Basket of One. Are More Coming?”
Daiichi Sankyo’s Ken Truitt Joins ImmusanT as Chief Medical Officer
Ken Truitt has been appointed chief medical officer of immune drug developer ImmusanT. Truitt comes to the Cambridge, MA, biotech from Daiichi Sankyo, where he was senior vice president for internal medicine therapies. Before joining Daiichi Sankyo, Truitt was director of clinical research in the pulmonary-immunology division of Merck (NYSE: [[ticker:MRK]]). Last fall, ImmusanT raised … Continue reading “Daiichi Sankyo’s Ken Truitt Joins ImmusanT as Chief Medical Officer”
Win Free Tickets to New York Biotech: Bringing Back the Expats!
We’re bringing the New York biotech community together once again for our latest life sciences event—and this time you’ve got a chance to win a free seat. New York Biotech: Bringing Back the Expats takes place at Riverpark at the Alexandria Center in New York on Thursday, June 21. We’ve brought together a few biopharma … Continue reading “Win Free Tickets to New York Biotech: Bringing Back the Expats!”
CAMP4 Hauls in $30M to Map New Ground with Drug Discovery Tech
One way to understand the role genes play in disease is to think of the cells in our bodies as electronic circuits. The signaling pathways that either turn a cell’s genes on or off are like wires laid out to the nucleus of the cell, says Josh Mandel-Brehm, CEO of CAMP4 Therapeutics. Cambridge, MA-based CAMP4 … Continue reading “CAMP4 Hauls in $30M to Map New Ground with Drug Discovery Tech”
Insurers Are (Slowly) Preparing for Future World of Driverless Cars
When a self-driving Uber vehicle killed a pedestrian attempting to cross a dark, Phoenix-area street in March, it served as a wake-up call to a mobility industry moving at a furious pace to advance autonomous vehicle technologies. The fatality reinforced consumer skepticism of driverless cars, as evidenced by a recent survey conducted by CarGurus (more … Continue reading “Insurers Are (Slowly) Preparing for Future World of Driverless Cars”
IDO Don’ts: After Immunotherapy Failure, Experts Say Slow Down
One year ago, on the eve of the yearly American Society of Clinical Oncology conference, a new class of drugs called IDO inhibitors seemed poised to become the next big thing in cancer care. They were a top choice to combine with the powerful but limited immunotherapies that have emerged this decade to fight many … Continue reading “IDO Don’ts: After Immunotherapy Failure, Experts Say Slow Down”
FDA Halts Plan for Vertex, CRISPR Therapeutics Sickle Cell Study
[Updated 5/31/18, 10:13 a.m. See below.] A Vertex Pharmaceuticals partnership with CRISPR Therapeutics to test a genetically engineered therapy as a treatment for patients who have sickle cell disease has been dealt a setback. The FDA placed a clinical hold on the application that Vertex (NASDAQ: [[ticker:VRTX]]) and CRISPR Therapeutics (NASDAQ: [[ticker:CRSP]]) submitted to start … Continue reading “FDA Halts Plan for Vertex, CRISPR Therapeutics Sickle Cell Study”
Eying Clinical Trials, Shattuck Labs Adds $46M for Immunotherapy R&D
Austin — [Updated 5/30/18, 11:08 a.m. See below.] Shattuck Labs, a biotech that licensed technology from cancer drug developer Heat Biologics, added a cash windfall right before the holiday weekend—a $46.6 million equity round of financing, according to a May 25 securities filing. Austin-based Shattuck has an experimental immunotherapy in preclinical development that it believes can … Continue reading “Eying Clinical Trials, Shattuck Labs Adds $46M for Immunotherapy R&D”
Smart-Kitchen Startups Give Cooks Digital Help Via Internet of Things
When it comes to connected homes, the hottest spot is located in your kitchen. The Internet of Things, artificial intelligence, and related technologies are being used to connect ovens, refrigerators, and other kitchen appliances to the Web. Feeling unsure about cooking that fish dish? Smart ovens can more accurately calibrate temperatures to avoid over-cooking. There’s … Continue reading “Smart-Kitchen Startups Give Cooks Digital Help Via Internet of Things”
Ex-Endurance Execs Grab $12M for New Software Startup iSubscribed
A group of former Endurance International Group executives has raised $12.1 million in venture capital to jumpstart a new tech company called iSubscribed. The investment was revealed in a recent document filed with the SEC, and iSubscribed managing partner Hari Ravichandran confirmed the funding in a LinkedIn message. He declined to share more details. Ravichandran … Continue reading “Ex-Endurance Execs Grab $12M for New Software Startup iSubscribed”
Meet the Xconomists 2018 in Boston: The Photos
Earlier this month, we held our annual “Meet the Xconomists” reception in Boston. This event is where we invite a mix of business leaders across tech, life sciences, and other sectors to network and trade ideas with our informal editorial advisors (we call them the Xconomists). It’s always a great crowd, and this year’s was … Continue reading “Meet the Xconomists 2018 in Boston: The Photos”
Roche Up, J&J Down as Cancer Drug Combos Yield More Mixed Results
Clinical testing of drug combinations that utilize cancer immunotherapies rolled on this weekend with mixed results. One Phase 3 study from Roche/Genentech in lung cancer succeeded, while another from Genmab and partner Johnson & Johnson spelled trouble for another possible drug combination. Roche’s South San Francisco, CA, Genentech unit said its IMpower130 study, which combines … Continue reading “Roche Up, J&J Down as Cancer Drug Combos Yield More Mixed Results”
Rare Disease Biotechs Avrobio, Eidos Therapeutics File for IPOs
Avrobio and Eidos Therapeutics, rare disease drug developers on opposite sides of the country, have filed for initial public offerings, each company aiming to raise cash to finance more clinical tests of its lead drug. Cambridge, MA-based Avrobio set a preliminary $86 million target for its IPO, according to its prospectus filed Friday. The gene … Continue reading “Rare Disease Biotechs Avrobio, Eidos Therapeutics File for IPOs”
Mitek Systems Building New Business in Verifying Online Identities
A few years before the presidential election of 2016, with all its Wikileaks, Russian disinformation campaigns, and phony Facebook links, San Diego’s Mitek Systems (NASDAQ: [[ticker:MITK]] made a strategic decision to expand into identity verification technology. Funny how things work out. While mobile banking technology still represents 60 percent of Mitek’s business, COO Kalle Marsal … Continue reading “Mitek Systems Building New Business in Verifying Online Identities”
Bio Roundup: Brii Does China, Hemophilia Updates, Right to Try & More
Sometimes disruption comes in waves. Since the 1990s, hemophilia patients have had to inject themselves with drugs a few times a week to prevent dangerous internal bleeding. That could soon change. One drug already approved, from Roche, may only need to be taken once a month by hemophilia A patients. Another experimental therapy from Alnylam … Continue reading “Bio Roundup: Brii Does China, Hemophilia Updates, Right to Try & More”
Boston Tech Watch: OM1, Tidelift, Notarize, Iboss, Elucidata & More
Before everyone checks out for the long weekend, let’s catch up on some recent Boston-area tech news: —Healthcare technology startup OM1 announced it closed a $21 million Series B funding round led by Polaris Partners, which invested alongside earlier OM1 backers, including General Catalyst Partners and 7wire Ventures. Polaris’s Dave Barrett will join OM1’s board. … Continue reading “Boston Tech Watch: OM1, Tidelift, Notarize, Iboss, Elucidata & More”
Request Your Invite for Our Napa Summit, June 14-15
In two and a half weeks, Xconomy will host our seventh annual Napa Summit: The Xconomy Retreat on Technology, Jobs, and Growth. In the heart of California’s wine country, it is our most exclusive, intimate, and unique conference. There are only a few tickets left—so request your invitation today to join fellow exemplary executives, innovators, … Continue reading “Request Your Invite for Our Napa Summit, June 14-15”
Paddy Power to Buy FanDuel After Supreme Court Paves Way for Betting
[Updated 5/24/18, 3:16 pm. See below.] The dominoes are starting to fall in the wake of a U.S. Supreme Court decision this month that opened the door for states to legalize sports gambling. FanDuel has agreed to be acquired by Ireland-based Paddy Power Betfair, a global sports betting and gaming company. New York-based FanDuel is … Continue reading “Paddy Power to Buy FanDuel After Supreme Court Paves Way for Betting”
Biotech IPOs Roll On as Kiniksa, Scholar Rock Get $227M Combined
The IPO window remains wide open for biotechs. Two more, Kiniksa Pharmaceuticals and Scholar Rock, make their Wall Street debuts this morning having raised $227 million combined in their IPOs last night. Kiniksa exceeded its funding goals. The Lexington, MA, company sold 1.44 million more shares than it projected, or 8.44 million total, at $18 … Continue reading “Biotech IPOs Roll On as Kiniksa, Scholar Rock Get $227M Combined”
Brii Biosciences Debuts with a China Pharma Strategy Backed by $260M
Growing up in China, Zhi Hong saw the healthcare challenges of his homeland firsthand. Despite the country’s economic strides, life science innovation there lags advances made in the West, he says. The GlaxoSmithKline veteran now wants to use his experience to adjust the balance. Backed by $260 million in financing, his startup, Brii Biosciences, plans … Continue reading “Brii Biosciences Debuts with a China Pharma Strategy Backed by $260M”
A.I. for Healthcare Gets Even More Crowded as GV Invests in Owkin
More money continues to flow into startups seeking to harness the massive amount of data available in healthcare using artificial intelligence and machine learning. This time, GV, the venture capital arm of Google parent Alphabet, is adding about $7 million to the Series A round for Owkin, bringing its total funding to $18 million. Owkin, … Continue reading “A.I. for Healthcare Gets Even More Crowded as GV Invests in Owkin”
Superpedestrian Scoops Up $16.5M, Enters Bike-Sharing Frenzy
Bike sharing is the new ride hailing. Similar to what has played out with Uber, Lyft, Didi Chuxing, and other private car-hailing app companies, investors are pumping hundreds of millions of dollars into bike-sharing startups around the world racing to be the leading operator of fleets of bicycles that people can rent on demand. The … Continue reading “Superpedestrian Scoops Up $16.5M, Enters Bike-Sharing Frenzy”
Gilead’s Norbert Bischofberger Named Kronos Bio CEO
Norbert Bischofberger has been named president and CEO of Kronos Bio. Bischofberger comes to the Cambridge, MA, cancer drug developer from Gilead Sciences (NASDAQ: [[ticker:GILD]]), where he was executive vice president of research and development and chief scientific officer. In March, Gilead announced that Bischofberger, who had worked at Gilead for nearly 30 years, would … Continue reading “Gilead’s Norbert Bischofberger Named Kronos Bio CEO”
Amid Housing Boom, Hometap Raises $12M to Buy a Piece of Your Home
[Updated 5/23/18, 9:40 am. See below.] Jeff Glass is back in the CEO chair at a startup, and this time he’s venturing into one of the oldest and, at the moment, hottest industries: real estate. Glass is an entrepreneur and investor who is well-known in Boston tech circles for leading m-Qube, the mobile content-delivery company … Continue reading “Amid Housing Boom, Hometap Raises $12M to Buy a Piece of Your Home”
Ahead of ASCO, Merck Touts Another Win for Lung Cancer Drug Combo
The rapidly changing treatment landscape for lung cancer could soon change again. This morning, Merck (NYSE: [[ticker:MRK]]) announced that a Phase 3 study called Keynote-407 has succeeded. The trial tested a combination of its immunotherapy pembrolizumab (Keytruda) and chemotherapy in 560 patients just diagnosed with advanced, squamous non-small cell lung cancer. Merck didn’t disclose specifics, … Continue reading “Ahead of ASCO, Merck Touts Another Win for Lung Cancer Drug Combo”
Check Out the Agenda for New York Biotech: Bringing Back the Expats
We’ve just posted the agenda for New York Biotech: Bringing Back the Expats, which is set for June 21 at Riverpark at the Alexandria Center in New York. We are bringing together a few biopharma leaders who are ex-New Yorkers to lead a unique, candid discussion with the local biotech community. Why did they leave … Continue reading “Check Out the Agenda for New York Biotech: Bringing Back the Expats”
CAR-T’s Launch, Payers vs. Gene Therapy & Photos From “What’s Hot”
CAR-T. Gene therapy. RNA interference. These aren’t just science experiments. They’re real, cutting-edge medicines either just on the market or soon to be. And the implications of their arrival was the focus of a few spirited discussions at Xconomy’s “What’s Hot in Boston Biotech” event last week at the Broad Institute in Cambridge, MA. Today, … Continue reading “CAR-T’s Launch, Payers vs. Gene Therapy & Photos From “What’s Hot””
Magenta’s Bastiano Sanna Appointed Semma Therapeutics CEO
Bastiano Sanna has been named CEO and president of Semma Therapeutics. Elizabeth Stoner, who has been serving as interim CEO, will remain as an advisor to the company. Sanna comes to Cambridge, MA-based Senna from Magenta Therapeutics, where he was chief operating officer. His experience also includes positions at Novartis (NYSE: [[ticker:NVS]]). Semma is developing … Continue reading “Magenta’s Bastiano Sanna Appointed Semma Therapeutics CEO”
Iora Health Goes Big With $100M to Advance Collaborative Care Model
Iora Health has become of the bigger players in digital healthcare and non-traditional health systems. The Boston company just announced a $100 million Series E funding round from investors including .406 Ventures, Devonshire Investors, F-Prime Capital, Flare Capital Partners, and GE Ventures. Most (if not all) of those are returning investors in Iora, which now … Continue reading “Iora Health Goes Big With $100M to Advance Collaborative Care Model”
NewStore Bags $20M After Ex-Victoria’s Secret, TJX CEOs Join Board
[Updated 5/21/18, 3:43 pm. See below.] Mobile commerce startup NewStore has hauled in $20 million in fresh venture capital, according to a document filed with the SEC. That brings the Boston-based company’s funding total to around $109 million, according to SEC filings. Its previous backers include Activant Capital, General Catalyst Partners, and Stephan Schambach, NewStore’s … Continue reading “NewStore Bags $20M After Ex-Victoria’s Secret, TJX CEOs Join Board”
Data Could Make Roche Drug a Hemophilia Standard, But for How Long?
It’s been a bumpy ride for emicizumab (Hemlibra) in 2018. The Roche/Genentech drug, approved by the FDA in late 2017, has a chance to become the choice treatment for people with hemophilia A, and new data today help that case. But will safety concerns and emerging competition blunt its rise? At the World Federation of … Continue reading “Data Could Make Roche Drug a Hemophilia Standard, But for How Long?”
Microsoft Snaps Up Semantic Machines to Push Conversational A.I.
[Updated 5/21/18, 3:16 pm. See below.] Microsoft said it has acquired “conversational A.I.” startup Semantic Machines, as it tries to bolster its artificial intelligence capabilities in its longstanding competition with Google, Apple, Amazon, Baidu, and other tech leaders. The purchase price wasn’t disclosed in a Microsoft blog post announcing the deal on Sunday. Semantic Machines … Continue reading “Microsoft Snaps Up Semantic Machines to Push Conversational A.I.”
Fixing the Clinical Trial Bottleneck by Making Patients a Priority
The world of medicine and drug development has transformed dramatically over the past 50 years. Today, we have biologic medicines, genomic sequencing technologies, and digital health tools that help patients become more engaged in their care. But one part of the equation hasn’t seen very much change at all: clinical trials. Clinical trials are a … Continue reading “Fixing the Clinical Trial Bottleneck by Making Patients a Priority”
C4 Therapeutics Promotes Stewart Fisher to Chief Scientific Officer
Stewart Fisher has been promoted to chief scientific officer of C4 Therapeutics. Fisher joined Watertown, MA-based C4 in 2016 as senior vice president of discovery sciences. Before working at C4, Fisher held positions at the Broad Institute and AstraZeneca (NYSE: [[ticker:AZN]]). C4 emerged in 2016 with a $73 million Series A round of financing to … Continue reading “C4 Therapeutics Promotes Stewart Fisher to Chief Scientific Officer”
6 Simple Steps to Avoid Becoming a Cybercrime Statistic in 2018
We can all agree that 2017 was a brutal year for cybersecurity. Verizon’s Data Breach Investigation Report identified passwords as the root cause of more than 81 percent of breaches in 2016 – an 18 percent increase from the previous year. And, it’s a safe guess that this year, the percentage will grow. At last … Continue reading “6 Simple Steps to Avoid Becoming a Cybercrime Statistic in 2018”
Bio Roundup: ASCO Abstracts, Migraine Drug Prices & “Blueprint” Fallout
There’s nothing abstract about a 20 percent jump in a company’s stock price. But yeah, that happened to Loxo Oncology when it released data previews for its American Society for Clinical Oncology presentations; the meeting starts in two weeks in Chicago. Wednesday was ASCO abstract day, and we’ll round up the headliners below, all with … Continue reading “Bio Roundup: ASCO Abstracts, Migraine Drug Prices & “Blueprint” Fallout”
Accent Therapeutics Debuts With $40M To Target RNA Modification
The story of how genes are regulated has gotten a whole lot more complicated in recent years. Scientists, using ever-improving sequencing technologies, are discovering the many ways the cell can turn gene activity up or down. With this growing insight comes an expanding list of potential drug targets and biotech startups that are going after … Continue reading “Accent Therapeutics Debuts With $40M To Target RNA Modification”
Amgen Migraine Drug Gets FDA Nod, First in New Class of Medicines
[Updated 5/18/18, 8:38 a.m. See below.] An Amgen migraine drug developed to head off pain before it starts has won FDA approval, the first for a new class of preventive drug candidates for the condition. The Amgen (NASDAQ: [[ticker:AMGN]]) drug, erenumab (Aimovig), is a subcutaneous injection given once a month. The drug blocks the receptor … Continue reading “Amgen Migraine Drug Gets FDA Nod, First in New Class of Medicines”
Underscore VC Quickly Raises $117M for Second Early-Stage Fund
Underscore VC’s partners planned to begin seeking capital for the firm’s second early-stage venture fund in the fall. Instead, their backers approached them, eager to re-invest. “We were pre-empted,” says co-founder and partner Michael Skok. “That’s pretty unusual.” The result of those talks is being announced Thursday: Underscore’s investors are pouring $116.9 million into the … Continue reading “Underscore VC Quickly Raises $117M for Second Early-Stage Fund”
Arevo Adds $12.5M to Expand 3D Printing into Manufacturing
[Updated 5/17/18, 9:45 am. See below.] Silicon Valley company Arevo, which competes with a growing number of rivals to transform 3D printing into a tool for mass manufacturing, announced today it raised $12.5 million in a Series B financing round. Arevo’s technology mix—which combines automated printing equipment with Web-based software and customized raw materials—exemplifies the … Continue reading “Arevo Adds $12.5M to Expand 3D Printing into Manufacturing”
MIT’s Inclusive Innovation Challenge Is Coming to Detroit in the Fall
MIT’s Inclusive Innovation Challenge (IIC), a competition awarding more than $1 million to tech entrepreneurs driving economic opportunities for workers, is coming to Detroit. The brainchild of the MIT Initiative on the Digital Economy, the IIC seeks to find and promote startups and entrepreneurial organizations using technology to increase financial prospects for low- and moderate-income … Continue reading “MIT’s Inclusive Innovation Challenge Is Coming to Detroit in the Fall”
Amgen Migraine Decision Looms, Maybe the Next Drug Price Fight, Too
For some migraine sufferers, bright lights or loud sounds are enough to touch off an attack. For others, stress sparks the onset of pain. Bright lights, loud sounds, stress: Migraine triggers vary from one patient to another. But a common element is the abundance of a pain-inducing protein in the blood. During a migraine attack, … Continue reading “Amgen Migraine Decision Looms, Maybe the Next Drug Price Fight, Too”
InsightSquared Scores $23M to Advance Sales and Marketing Software
Here’s an update on a quintessential Boston tech startup. InsightSquared, which got started in 2011, said Wednesday it has pulled in $23 million in Series D funding. The round was led by Tola Capital, with previous investors Accomplice, DFJ, Two Sigma Ventures, and NextView Ventures also participating. The new money brings InsightSquared’s total funding to … Continue reading “InsightSquared Scores $23M to Advance Sales and Marketing Software”
Boston Tech Watch: SmartBear, Wellist, LogoMix, Biobot, NEVYs & More
[Updated 5/16/18, 10:09 am. See below.] It’s time to catch up on recent news from the Boston-area tech sector, including a pair of acquisitions; investments in digital health, artificial intelligence, and wastewater analytics; and scenes from this year’s “Star Wars”-themed NEVY Awards. Read on for details. —Boston-based LogoMix, a provider of logo design tools and … Continue reading “Boston Tech Watch: SmartBear, Wellist, LogoMix, Biobot, NEVYs & More”
Verdine Picks Backers For FogPharma’s $66M Round, Keeping Firm Control
At first blush, the $66 million Series B round that startup FogPharma is announcing this morning seems standard fare, particularly this year, when private biotechs have raised gobs of cash hand over fist. But a closer look shows careful steps by an academic-turned-executive, Greg Verdine, to develop the type of company he wants. He’s amassed … Continue reading “Verdine Picks Backers For FogPharma’s $66M Round, Keeping Firm Control”
Circle Grabs $110M, Will Launch U.S. Dollar-Backed Cryptocurrency
The founders of Circle Internet Financial have a lofty vision for the nascent world of cryptocurrencies and blockchain systems—and their startup’s role in it. Now, they have more resources to try and execute that vision. Boston-based Circle announced Tuesday it raised $110 million in a Series E equity funding round, and it plans to launch … Continue reading “Circle Grabs $110M, Will Launch U.S. Dollar-Backed Cryptocurrency”