“Health Experience Refactored” is in its seventh year. Here’s more from the event organizers, Health 2.0 and Mad*Pow: “A revolutionary conference, gathering more than 600 cross-disciplinary thinkers and practitioners in one space. Through an inspired mix of thought-provoking talks, workshops, and discussions, HxRefactored applies design, science, evidence, and theory to re-imagine the entire health journey, … Continue reading “HxRefactored 2017”
Category: Boston
Dems Grill HHS Nominee Price About Trump Comments, Stock Holdings
[Note: This report was co-authored by deputy biotech editor Ben Fidler.] Tom Price, the man who could oversee an overhaul of the U.S. healthcare system, answered often pointed questions this morning from U.S. senators about his views, his plans for Obamacare, and personal financial transactions. Price, an orthopedic surgeon by training, is President-elect Donald Trump’s … Continue reading “Dems Grill HHS Nominee Price About Trump Comments, Stock Holdings”
HPE Scoops Up MA “Unicorn” SimpliVity for $650M, Ending IPO Talk
SimpliVity, a Massachusetts “unicorn” tech company with aspirations to go public, has opted instead to sell itself to Hewlett Packard Enterprise (HPE) for $650 million in cash. The purchase price is about 2.4 times the amount of venture capital—$276 million—that eight-year-old SimpliVity had raised from Waypoint Capital, Accel, CRV, DFJ Growth, Kleiner Perkins Caufield & … Continue reading “HPE Scoops Up MA “Unicorn” SimpliVity for $650M, Ending IPO Talk”
With Another Migraine Drug Bet, Lilly Snaps Up CoLucid For $960M
Eli Lilly may have dealt a migraine drug called lasmiditan to CoLucid Pharmaceuticals 12 years ago, but the Indianapolis giant has clearly kept an eye on it, and now wants more than just some royalties if the treatment succeeds in clinical testing this year. Lilly (NYSE: [[ticker:LLY]]) will acquire Cambridge, MA-based CoLucid (NASDAQ: [[ticker:CLCD]]) in an … Continue reading “With Another Migraine Drug Bet, Lilly Snaps Up CoLucid For $960M”
Merrimack Names Sanofi/Genzyme Exec, Peters, New CEO
Merrimack Pharmaceuticals (NASDAQ: [[ticker:MACK]]) has named Richard Peters its new president and CEO, stepping in for chairman Gary Crocker, who had manned the seat while the Cambridge, MA, company restructured. Peters is currently the senior vice president and head of Sanofi/Genzyme’s rare disease business, but has served in some oncology roles—Merrimack’s focus— at Sanofi/Genzyme as … Continue reading “Merrimack Names Sanofi/Genzyme Exec, Peters, New CEO”
Salsify Grabs $30M to Go Big in Product Content for Digital Retail
Salsify’s founders know what it takes to build a big, successful software company. They previously served in senior roles at Endeca, the enterprise search and e-commerce technology firm that became a pillar company in the Boston tech scene in the 2000s and was acquired by Oracle for over $1 billion in 2011. Now, they’re attempting … Continue reading “Salsify Grabs $30M to Go Big in Product Content for Digital Retail”
Hunting For Pharma Deals, Ovid Bags Epilepsy Drug from Takeda
Big pharmaceutical companies are always on the hunt for promising drugs from smaller biotechs. But the reverse is true, too, and that can lead to creative deals such as the arrangement between New York startup Ovid Therapeutics and Japanese pharma giant Takeda announced this morning. Ovid, formed in 2015 by ex-Teva Pharmaceutical and Bristol-Myers Squibb … Continue reading “Hunting For Pharma Deals, Ovid Bags Epilepsy Drug from Takeda”
Seeking Profitability, Favor Reverses Expansion to Focus on Texas
Austin—Favor, the startup with a mobile app that offers to deliver anything, is closing all of its operations outside of Texas, including in cities such as Boston and Denver. The move to work only in Texas, where Austin, TX-based Favor offers its app-based delivery service in 15 cities, is an attempt to push the company … Continue reading “Seeking Profitability, Favor Reverses Expansion to Focus on Texas”
Biogen to Pay $1.25B to Settle Forward Pharma Patent Suit on MS Drug
Biogen is paying Danish firm Forward Pharma $1.25 billion to settle a patent infringement lawsuit filed over the company’s multiple sclerosis pill dimethyl fumarate (Tecfidera). The settlement announced Tuesday with Forward (NASDAQ: [[ticker:FWP]]) could also put Cambridge, MA-based Biogen (NASDAQ: [[ticker:BIIB]]) on the hook for future royalties on sales of dimethyl fumarate. But the deal … Continue reading “Biogen to Pay $1.25B to Settle Forward Pharma Patent Suit on MS Drug”
Neurala, With More Cash, Advances A.I. for Drones, Self-Driving Cars
Artificial intelligence software firm Neurala cut its teeth developing technology for government entities, including working on advanced navigation software for NASA’s planetary exploration robots. Now, as A.I. technologies move further into our daily lives, 11-year-old Neurala says it is starting to pick up momentum selling its technology to businesses that are working in drones, self-driving … Continue reading “Neurala, With More Cash, Advances A.I. for Drones, Self-Driving Cars”
Video Trends Point to Changing Ways Companies Reach Consumers
The top emerging trends that will affect our business in 2017 are a mixture of how consumers digest information online, video trends, and the continued growth of live video. The way people digest information online has shifted over time from being text based to photo based to now being very video based. Facebook forecasts that … Continue reading “Video Trends Point to Changing Ways Companies Reach Consumers”
Biotech Roundup: JPM Deals, Gender Diversity, PCSK9 Battle & More
[Corrected, 1/14/16, see below] This past week, the biopharma industry made its annual January pilgrimage to San Francisco for the J.P. Morgan Healthcare Conference. 2016 was a whirlwind year in biotech, and the biopharma gods rewarded attendees with a multi-day monsoon to slog through to get from one meeting to the next. Earlier today, Alex … Continue reading “Biotech Roundup: JPM Deals, Gender Diversity, PCSK9 Battle & More”
Notes From The JPM ’17 Vortex: Trump, Rainstorms & The Price You Pay
[Editor’s note: Ben Fidler contributed to this report] The week of frenetic data sharing, deal talking, and party hopping of the J.P. Morgan Healthcare Conference—and the events that have mushroomed around it—took a punch to the gut just as most attendees were wrapping up and checking their outbound flight status. The incoming party-pooper-in-chief, Donald Trump, … Continue reading “Notes From The JPM ’17 Vortex: Trump, Rainstorms & The Price You Pay”
Startup Resolution 2017: Embrace Believers, Bounce Skeptics & Keep Moving
The holiday period is a great time for reflection and then behavior modification – often referred to as resolutions. While a bit artificial to the logical engineer, this opportunity can be helpful. This year, my favorite insight came from a former student and employee, Elliot Cohen, co-founder of PillPack. While thinking about the major aspirational … Continue reading “Startup Resolution 2017: Embrace Believers, Bounce Skeptics & Keep Moving”
Manufacturing Issues Stall Tesaro Cancer Nausea Drug at FDA
Manufacturing problems have held back several drugs from FDA approval, and the latest example is a Tesaro drug developed to ease nausea and vomiting in cancer patients. Tesaro (NASDAQ: [[ticker:TSRO]]) said Thursday that the FDA raised no concerns about the safety or efficacy of its drug, rolapitant, nor did the regulator ask the Waltham, MA-based … Continue reading “Manufacturing Issues Stall Tesaro Cancer Nausea Drug at FDA”
Cyber Attackers Targeted Our Trust, Not Just an Election
The cyber attacks on political organizations and election infrastructure added a level of intrigue to this year’s U.S. presidential election – culminating in the U.S. government officially blaming the Russian government for trying to influence the election. If the Cold War has taught us anything, it’s that global espionage is a game of chess, not … Continue reading “Cyber Attackers Targeted Our Trust, Not Just an Election”
VC Activity in Boston Dipped in 2016; Here Are the Top 10 Deals & Exits
Venture investments in Boston-area companies dipped in 2016, amid a slowdown in VC activity nationwide that some observers are calling a “return to normalization” after an investing frenzy in the previous two years. In the fourth quarter of 2016, Boston-area companies took in about $1.2 billion from investors via 132 deals. That was down from … Continue reading “VC Activity in Boston Dipped in 2016; Here Are the Top 10 Deals & Exits”
Biopharma Leaders Call for Gender Diversity Amid J.P. Morgan Conference
A group of more than 100 prominent life sciences executives, investors, and business leaders have signed an open letter calling on the industry to step up efforts to increase gender diversity. The letter was published Wednesday, on the second to last day of the annual J.P. Morgan healthcare conference in San Francisco (see full letter … Continue reading “Biopharma Leaders Call for Gender Diversity Amid J.P. Morgan Conference”
Trump Slams Drug Companies, Says Medicare “Bidding” Is Coming
Oh, the power of a Donald Trump sound bite. On the campaign trail and as president-elect he has made occasional noises about drug pricing—giving the U.S. Medicare system, the largest buyer of drugs in the world, the right to negotiate prices, for instance. This morning, in his first press conference, Trump went further. He said … Continue reading “Trump Slams Drug Companies, Says Medicare “Bidding” Is Coming”
Vertex Deals Cancer Drugs to Merck KGaA for $230M, Following Plan
[Updated 1/23/17, 3:17 p.m. See below.] Vertex Pharmaceuticals is unloading a group of ancillary research programs in its portfolio, announcing today it will out-license the potential cancer treatments to Darmstadt, Germany-based Merck KGaA. Merck KGaA is paying Boston-based Vertex $230 million up front for the drug candidates, which include experimental clinical-stage cancer therapies that target … Continue reading “Vertex Deals Cancer Drugs to Merck KGaA for $230M, Following Plan”
Takeda, Maverick Therapeutics Enter $125M Cancer Therapy Partnership
Takeda Pharmaceutical, aiming to bolster its cancer drug pipeline, has signed on Maverick Therapeutics to a $125 million partnership for developing new immunotherapy treatments. The funding for Brisbane, CA-based Maverick includes an upfront option, a $23 million Series B investment, and cash for research and development. At the end of the five-year deal, Takeda has … Continue reading “Takeda, Maverick Therapeutics Enter $125M Cancer Therapy Partnership”
EzCater Gobbles $35M From Iconiq Capital, Insight Venture Partners
[Updated 1/11/17, 11:46 a.m. See below.] Boston online food-ordering company ezCater has hauled in another big venture capital round. Today the company announced a $35 million investment led by new backer Iconiq Capital; Insight Venture Partners, a previous ezCater investor, also chipped in. EzCater says it has raised $70 million in total venture capital, including … Continue reading “EzCater Gobbles $35M From Iconiq Capital, Insight Venture Partners”
Edtech Venture Funding Down in 2016, But Still Tops $1B
While we’re looking at venture deal numbers from the past year, let’s consider the education technology industry, which isn’t broken out by sector in the general reports I’ve seen. A recent study by EdSurge, an edtech information firm, shows venture funding for U.S. education tech companies totaled $1.03 billion (across 138 deals) in 2016. Those … Continue reading “Edtech Venture Funding Down in 2016, But Still Tops $1B”
At Allergan And Other Pharmas, Price Transparency Has Limits
The first test of pharmaceutical giant Allergan’s promise to behave responsibly came last week. The firm acknowledged price hikes on several drugs that stayed—sometimes barely—under the 10 percent limit that CEO Brent Saunders pledged last September, in what he called a “social contract with patients.” In an interview at the annual J.P. Morgan healthcare investment … Continue reading “At Allergan And Other Pharmas, Price Transparency Has Limits”
Mobile App Firm Apperian Sold to Arxan as Security Demand Grows
Apperian, one of the early companies to build mobile applications for large enterprises, has been acquired by app-security firm Arxan. The purchase price wasn’t disclosed, so it’s hard to tell how good an outcome this is for Apperian and its investors. The Boston-based firm had raised just shy of $40 million from investors, including FirstFloor … Continue reading “Mobile App Firm Apperian Sold to Arxan as Security Demand Grows”
VC Activity Continues Slowdown in Fourth Quarter, and Top 10 Deals
Venture capital firms didn’t exactly take their foot off the accelerator, but the pace of VC investments continued to weaken in the three months that ended in December, extending a slowdown that began in July, according to two venture reports issued today. The deceleration followed a strong start to venture activity during the first half … Continue reading “VC Activity Continues Slowdown in Fourth Quarter, and Top 10 Deals”
Zillow’s $5M Gift Powers UW CSE Building Toward Construction Start
[Updated 1/11/17 10:18 am. See below.] Construction on the University of Washington’s second computer science building could start as soon as Friday if the university’s leadership approves a bridge loan of up to $25 million to finance the project while remaining anticipated private contributions materialize. Those private contributions have come in large, highly-touted chunks, and lower-profile … Continue reading “Zillow’s $5M Gift Powers UW CSE Building Toward Construction Start”
CEO Kaye Details Insurance Battle As Sarepta Launches Duchenne Drug
Sarepta Therapeutics CEO Ed Kaye described Tuesday the ups and downs the Cambridge, MA, company has had as it tries to roll out eteplirsen (Exondys 51), the first-ever approved drug for Duchenne muscular dystrophy. At the JP Morgan Healthcare Conference in San Francisco, Kaye told attendees that more than 250 patients with the progressive, deadly … Continue reading “CEO Kaye Details Insurance Battle As Sarepta Launches Duchenne Drug”
Xconomy’s EXOME Presents: What’s Hot in Boston Biotech
After a 2016 filled with extreme highs and lows, biotech is in for yet another bumpy ride in 2017. Obamacare’s future is uncertain. The 21st Century Cures Act is in place. Changes loom at the FDA, drug pricing remains a flashpoint, and the IPO market continues to sputter. Yet through it all, critical biotech advances … Continue reading “Xconomy’s EXOME Presents: What’s Hot in Boston Biotech”
Kaminario Snags $75M as Big Money Flows Into Flash Storage
New year, new funding for data storage companies in the Boston area. The latest beneficiary is Needham, MA-based Kaminario, which today announced it received $75 million from investors. Private equity firm Waterwood led the round, with contributions from Sequoia, Pitango Venture Capital, Lazarus, Silicon Valley Bank, and Globespan Capital Partners. Kaminario said it has raised … Continue reading “Kaminario Snags $75M as Big Money Flows Into Flash Storage”
Protecting America’s Tech Prowess Amid the Hostile Rhetoric of 2017
With the inauguration of Donald Trump as president on January 20th, the editors asked some of our Xconomists to offer their thoughts on “How could the incoming administration significantly affect your industry?” My biggest concern would be a failure to recognize and take full advantage of the fact that America’s biggest asset is its technological … Continue reading “Protecting America’s Tech Prowess Amid the Hostile Rhetoric of 2017”
Boston Tech Watch: iRobot Backs Sense, Lola Grabs Cash, & More
[Updated 1/10/17, 11:28 am. See below.] Now that we’re settling into 2017, it’s time for a recap of some of the year’s early happenings in the Boston tech scene: —Diffeo said it acquired Meta Search for an undisclosed price. Cambridge, MA-based Diffeo provides software that it says acts as a sort of personal research assistant … Continue reading “Boston Tech Watch: iRobot Backs Sense, Lola Grabs Cash, & More”
J&J, NY State to Form Biotech Incubator in Big Apple’s Genome Center
New York State Governor Andrew Cuomo is planning to use some of the cash from his recently announced $650 million biotech initiative on Manhattan’s biggest life sciences problem—lack of lab space. Cuomo will put $17 million in state funding towards a new biotech startup incubator that will be situated in the New York Genome Center … Continue reading “J&J, NY State to Form Biotech Incubator in Big Apple’s Genome Center”
Celgene Pays Anokion $45M for Autoimmune Research, Option to Buy
Celgene hasn’t been afraid to strike deals with early stage biotech companies and the Summit, NJ-based drug developer is at it again, this time entering a research partnership with Anokion in autoimmune diseases. Under the deal announced Monday, Celgene (NASDAQ: [[ticker:CELG]]) is paying Anokion $45 million up front. Anokion, which is based in Lausanne, Switzerland … Continue reading “Celgene Pays Anokion $45M for Autoimmune Research, Option to Buy”
Allergan, Eying More Neurodegenerative Drugs, Gets Right to Buy LTI
Allergan now has the right to acquire Lysosomal Therapeutics, a Cambridge, MA-based drug developer for Parkinson’s disease seeking to exploit the link between neurodegeneration and a family of rare genetic disorders. The Dublin-based pharmaceutical giant purchased an option right to acquire Lysosomal Therapeutics (LTI) after LTI completes a Phase 1b trial for its lead drug, LTI-291. … Continue reading “Allergan, Eying More Neurodegenerative Drugs, Gets Right to Buy LTI”
Takeda to Buy Ariad in $5.2B Move to Build Up Cancer Drug Portfolio
[Updated 1/9/17, 11:56 am. See below.] Ariad Pharmaceuticals has agreed to be acquired by Takeda Pharmaceutical in a deal that values the Cambridge, MA-based cancer drug developer at about $5.2 billion. Under the all-cash agreement, Osaka, Japan-based Takeda will acquire all of Ariad’s (NASDAQ: [[ticker:ARIA]]) outstanding shares for $24 each, a nearly 75 percent premium … Continue reading “Takeda to Buy Ariad in $5.2B Move to Build Up Cancer Drug Portfolio”
Indigo’s Microbial Treatment for Cotton Reaps Gains in Crop Yields
Drought presents challenges to cotton farmers in West Texas and this past growing season was no exception. But despite periods of moderate to severe drought in the region, some farmers reported higher crop yields after using a microbial treatment that helped their cotton plants hold up better in dry weather. Cotton plants treated with the … Continue reading “Indigo’s Microbial Treatment for Cotton Reaps Gains in Crop Yields”
New Bain Investor Yumin Choi on Obamacare’s Future, Surviving Cancer
Bain Capital Ventures has a new person leading its healthcare investments. Yumin Choi has joined the firm as a managing director, after a decade as a partner at HLM Venture Partners, a Boston-based, healthcare-focused venture firm. Choi has a deeper, more personal understanding of the healthcare industry than most investors. Two years ago, the 33-year-old … Continue reading “New Bain Investor Yumin Choi on Obamacare’s Future, Surviving Cancer”
Smart Voice Assistants Will Spread From Talking Devices To Apps in 2017
Millions of consumers who used to type their search questions on a laptop or the tiny keys of a smartphone are now simply telling a tabletop device what they want. Signs are that the Amazon Echo and Google Home—both equipped with smart voice assistants—will turn out to be blockbuster sellers of the holiday gift season … Continue reading “Smart Voice Assistants Will Spread From Talking Devices To Apps in 2017”
Merrimack Hits Reset Button, Sells Cancer Drugs to Ipsen For $575M
Merrimack Pharmaceuticals is starting off the year with significant changes. The Cambridge, MA, company has decided to sell its only marketed products—a pair of cancer drugs—to pay off debt and invest in a new set of experimental medicines. French pharmaceutical company Ipsen has bought Merrimack’s rights to the nanoparticle pancreatic cancer drug Onivyde and its … Continue reading “Merrimack Hits Reset Button, Sells Cancer Drugs to Ipsen For $575M”
PatientsLikeMe Nabs $100M, Works to Advance Personalized Medicine
PatientsLikeMe has spent the past 13 years building a vast online network of patients with chronic diseases—more than 500,000 people with over 2,700 conditions—who share experiences and health information with each other and with healthcare professionals. The idea is to connect patients and help them better understand their diseases and perhaps find ways to improve … Continue reading “PatientsLikeMe Nabs $100M, Works to Advance Personalized Medicine”
Scangos Surfaces to Lead New Infectious Disease Startup, Vir Biotech
George Scangos, who stepped down from the top spot at Biogen late last year, didn’t take long to land a new gig. He is now CEO of Vir Biotechnology, a biotech startup developing treatments for infectious diseases. The move to Vir brings Scangos (pictured) back to the San Francisco area, where he led Exelixis (NASDAQ: … Continue reading “Scangos Surfaces to Lead New Infectious Disease Startup, Vir Biotech”
Foundation, Roche Deepen Ties as Genentech Vet Steps in for CEO Pellini
[Updated, 2:37 pm ET] Two years ago, almost to the day, Foundation Medicine celebrated its biggest announcement ever. Roche had just paid more than $1 billion for a majority stake in the cancer diagnostics company in a sweeping collaboration that sent Foundation’s shares to all-time highs. Fast forward to today, and Cambridge, MA-based Foundation (NASDAQ: … Continue reading “Foundation, Roche Deepen Ties as Genentech Vet Steps in for CEO Pellini”
Bio Roundup: Biogen Price Fears, A Grail Billion, Hellos, Byes & More
Happy new year, everyone. Are you all strapped in? Tray tables in the locked and upright position? As Bette Davis once said, “It’s going to be a bumpy night.” The news from Washington is already coming fast and furious. The effort to repeal Obamacare is underway, spawning more perspectives and opinions than a postmodern Japanese … Continue reading “Bio Roundup: Biogen Price Fears, A Grail Billion, Hellos, Byes & More”
Families Fret As Insurers Mull Biogen’s $750K Spine Disease Drug
This past Christmas weekend, Ana Memedovich had her best two days in more than a decade. Her 23-year-old son Mikhail has spinal muscular atrophy, or SMA, a rare genetic disease that has slowly robbed him of the ability to walk and function independently. On Dec. 23, the FDA approved nusinersen (Spinraza), the first-ever drug for … Continue reading “Families Fret As Insurers Mull Biogen’s $750K Spine Disease Drug”
Biopharma Industry, Heal Thyself (Without Government Help)
With the inauguration of Donald Trump as president on January 20th, the editors asked some of our Xconomists to offer their thoughts on “How could the incoming administration significantly affect your industry?” The life sciences industry has one problem: Lack of productivity. When it figures out how to consistently make a profit discovering and developing drugs … Continue reading “Biopharma Industry, Heal Thyself (Without Government Help)”
Neon Therapeutics Garners $70,000,000 Series B Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=1676734f-3acc-487c-b243-0435ea2abc54 Date 1/6/2017 Company Name Neon Therapeutics Mailing Address 215 First Street Cambridge, MA 02142 USA Company Description We have assembled a team of world experts in cancer immunotherapy to develop therapies that target abnormal proteins called neoantigens, which are produced by cancer cells. Website http://www.neontherapeutics.com Transaction Type Venture Equity Transaction Amount … Continue reading “Neon Therapeutics Garners $70,000,000 Series B Round”
Zagster Receives $10,000,000 Series B Funding
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=514ac96e-46a9-43fc-b7ca-22477b740008 Date 1/6/2017 Company Name Zagster Mailing Address 25 First Street Cambridge, MA 02141 USA Company Description We’re passionate cyclists who love fresh air, good exercise and emission-free transportation. We believe we’re creating the future of transportation through our easy to use bike sharing systems. Website http://www.zagster.com Transaction Type Venture Equity Transaction … Continue reading “Zagster Receives $10,000,000 Series B Funding”
RaNA Therapeutics Receives $50,999,987 New Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=8ac4bfcb-fc72-4fdd-8e08-6373931a6816 Date 1/6/2017 Company Name RaNA Therapeutics Mailing Address 200 Sidney Street Cambridge, MA 02139 USA Company Description RaNA Therapeutics is a biotechnology company using its proprietary RNA upregulation platform to discover and develop highly selective epigenetic modulators of gene expression. RaNA’s technology upregulates the expression of desirable genes that can prevent … Continue reading “RaNA Therapeutics Receives $50,999,987 New Financing Round”
Rethink Robotics Adds $18M to Funding Pot Amid Automation Debate
One of New England’s leading robotics companies has raised new money for the new year. Boston-based Rethink Robotics says it has closed $18 million as part of a Series E funding round. A regulatory filing from this week shows the equity round could grow to $33 million. Private equity firm Adveq participated in the latest … Continue reading “Rethink Robotics Adds $18M to Funding Pot Amid Automation Debate”