The biotech community pushed back against President Donald Trump’s order to block travelers and refugees this week, and not much later, a federal court did, too. Patient advocates have scored big wins with recent approvals of rare disease treatments, but they’re not as happy with insurers’ coverage decisions or with Trump’s promises of massive FDA … Continue reading “Bio Roundup: Travel Ban Block, Gilead Shock, Dean Kamen Talk & More”
Category: Indiana
Often Advocates Of Faster FDA, Patient Groups Wary Of Trump Deregulation
In the biomedical world, perhaps the biggest question looming over President Donald Trump’s upcoming pick for Food and Drug Administration commissioner is how drastically that person will help roll back FDA regulations. Trump said at last week’s meeting in Washington D.C., with pharmaceutical executives that he wanted to slash FDA rules by 75 to 80 … Continue reading “Often Advocates Of Faster FDA, Patient Groups Wary Of Trump Deregulation”
San Francisco Appeals Court Upholds Stay on Trump’s Travel Ban—For Now
The Trump administration’s travel ban will remain on a temporary hold under an order issued today by a federal appeals court in San Francisco, which held that the government had failed to make its case for lifting a stay won through a court challenge by the state of Washington. That means that for the time … Continue reading “San Francisco Appeals Court Upholds Stay on Trump’s Travel Ban—For Now”
Xconomy Is Growing: We Need Great Salespeople in SF, Texas, and NY
Since Xconomy’s founding nearly a decade ago, we have grown from a single bureau in Boston to having editors covering 11 innovation clusters around the United States. And over this time, we have cultivated a reputation for outstanding news coverage and events across high-tech business sectors—from information technology to life sciences and beyond. In the … Continue reading “Xconomy Is Growing: We Need Great Salespeople in SF, Texas, and NY”
Torchlite Helps Businesses Access, Manage Marketing Freelancers
Susan Marshall, founder and CEO of digital marketing startup Torchlite, has been working in the technology sector for about 25 years. Her experience is mostly in product development and marketing, and she’s worked for some of the most innovative companies in the world, including Apple, Salesforce, and Adobe. With Indianapolis-based Torchlite, Marshall has set her … Continue reading “Torchlite Helps Businesses Access, Manage Marketing Freelancers”
Bayer Enlists Trana Discovery to Find New Fungicides for Field Crops
When disease decimated Ireland’s potatoes in 1845, farmers were at a loss to explain what caused their staple crop to rot in the fields. The blight continued in successive growing seasons and by 1851, more than one million deaths were attributed to what came to be known as the “Great Famine.” Fungicides can now prevent … Continue reading “Bayer Enlists Trana Discovery to Find New Fungicides for Field Crops”
Trump’s Immigration Policies Threaten to Thwart Economic Growth
For the entire staff at Global Detroit, the Executive Orders from President Trump on immigration, refugees, the so-called Muslim ban, and the wall have been devastating and deeply distressing. They challenge our sense of American values and history. Beyond our personal and moral reactions, however, the Executive Orders also may have some impact on the … Continue reading “Trump’s Immigration Policies Threaten to Thwart Economic Growth”
Biotech Leaders Sign Letter Condemning Trump’s Travel Ban
The blowback from U.S. business leaders to President Trump’s travel ban continues—today from a throng of biotech executives. This morning, 165 U.S. biotech leaders have signed a letter voicing “deep concern and opposition” to the order, which bars entry to the U.S. to refugees and immigrants from seven Muslim-majority countries. The Jan. 27 order placed … Continue reading “Biotech Leaders Sign Letter Condemning Trump’s Travel Ban”
Kentucky Biotech CEO’s Message For McConnell: I’ll Be Muslim, Too
President Trump’s order to bar refugees and immigrants from seven Muslim-majority countries is on temporary hold, and a court hearing later today could eventually force a ruling by the U.S. Supreme Court. One of the latest biotech executives to speak out against the ban is in the backyard of Mitch McConnell (R-KY), the top Republican … Continue reading “Kentucky Biotech CEO’s Message For McConnell: I’ll Be Muslim, Too”
AB BioTechnologies Invests $10.5M to Build Manufacturing Facility
AB BioTechnologies, the Bloomington, IN-based drug development and services company, announced last month that it will invest $10.5 million to build a new 23,000-square-foot facility. The expansion signals a new direction for the company: It plans to add manufacturing capabilities and help clients “advance their drugs from concept to clinic under one roof,” says CEO … Continue reading “AB BioTechnologies Invests $10.5M to Build Manufacturing Facility”
Bio Roundup: Travel Ban, Pharma in DC, Biogen Splits, PCSK9 Wins
Folks had just clocked out last Friday when the Trump Administration announced a travel ban that threw airports around the country into chaos. That announcement set the tone for this week in life sciences. Many in biopharma blasted Trump’s order and tried to grapple with its implications. At the same time, a handful of the … Continue reading “Bio Roundup: Travel Ban, Pharma in DC, Biogen Splits, PCSK9 Wins”
Perceivant Using Edtech to Bring Health and Wellness to College Kids
In 2012, after Brian Rowe sold the analytics company he co-owned, iGoDigital, to ExactTarget for $21 million, he knew he wanted to move on to a new adventure in the startup realm. He just wasn’t sure what it would be. “I wanted to do something where I could use my strong analytics background, but I … Continue reading “Perceivant Using Edtech to Bring Health and Wellness to College Kids”
Insurer UHC Will Cover Biogen Spine Drug, But With Limits And Proof
[Updated, 1:57 pm E.T., see below] Another major U.S. health insurer, UnitedHealthCare, has said it would cover the first-ever approved drug for the rare disease spinal muscular atrophy, a closely watched bellwether in the national debate over drug prices. While UHC’s policy is less restrictive than the one disclosed recently by rival insurer Anthem, UHC … Continue reading “Insurer UHC Will Cover Biogen Spine Drug, But With Limits And Proof”
Seed-Stage Deals Show Growing Diversity of Agtech Investments
Fundraising is tough for startups but it’s particularly difficult in agriculture, a sector that has fewer firms focused on agtech investments. The dynamics are starting to change, though. A growing number of early-stage agtech startups are raising money and they’re pulling capital from a broader pool of sources, according to a new report from AgFunder, … Continue reading “Seed-Stage Deals Show Growing Diversity of Agtech Investments”
Purdue Foundry Helps University-Bred Startups Find Path to Market
Greg Deason, the Purdue Foundry’s senior vice president and director of innovation and entrepreneurship, has been in the technology transfer business a long time. Before coming to the Foundry, which is the entity tasked with ushering startups spun out of the university’s research and inventions to market, Deason spent 20 years building Purdue’s five research … Continue reading “Purdue Foundry Helps University-Bred Startups Find Path to Market”
Still No Official Word From Biopharma Groups About Trump Travel Ban
Four days after President Donald Trump issued an order to temporarily ban U.S. entry for people from seven Muslim-majority countries—and for all refugees—the drug industry’s two main lobbying groups have remained silent, even while individual executives in the industry have voiced opposition. The main life science trade group in California has also stayed on the … Continue reading “Still No Official Word From Biopharma Groups About Trump Travel Ban”
Ex-Xerox CTO Vandebroek Named Chief Operating Officer of IBM Research
When I last spoke to Sophie Vandebroek in December, it was for a kind of exit interview as she prepared to leave her longtime job as Xerox’s CTO and head of its worldwide research organization. We went over highlights of her Xerox tenure, her outlook on key technology trends for 2017 and beyond—the Internet of … Continue reading “Ex-Xerox CTO Vandebroek Named Chief Operating Officer of IBM Research”
Cybersecurity in 2017: Goal, Illusion, or Oxymoron?
Here at the (relative) beginning of 2017, we can safely say that the previous year was among the most significant in history from a cybersecurity standpoint. Nation-state actions, in the form of the assumed Russian interference in the U.S. elections (especially the presidential race) and in the leaks of e-mails from the Clinton campaign, dominated … Continue reading “Cybersecurity in 2017: Goal, Illusion, or Oxymoron?”
Purdue Spinout VinSense Brings Big Data to the Terroir
Although the juice of fermented grapes has been a popular libation for centuries, wine is having a bit of a pop culture moment. Millennials apparently can’t get enough of the stuff. According to Beverage Dynamics, they quaffed 159.6 million cases of wine in 2015, while Baby Boomers sipped just over 114 million. And, perhaps inspired … Continue reading “Purdue Spinout VinSense Brings Big Data to the Terroir”
Bio Roundup: Trump News, Anthem’s Stand, Diversity by 2056 & More
It was a wild week in biotech and on Capitol Hill. A new study showed it may take another 40 years to achieve gender parity in public biotech boardrooms. Tensions continued to mount between drugmakers and payers over the rising costs of rare disease drugs. A flurry of deals took place, headlined by Johnson & … Continue reading “Bio Roundup: Trump News, Anthem’s Stand, Diversity by 2056 & More”
Degreed, CodeFights Ready Alternative Credentials To Rival Diplomas
Two San Francisco educational technology startups that don’t offer classes, MOOCs, or other online coursework are nevertheless preparing to issue credentials that, like a college degree, may help learners land a job. Degreed and CodeFights are among the companies adding new twists to the ecosystem of alternative credentials, which are proliferating as the edtech sector … Continue reading “Degreed, CodeFights Ready Alternative Credentials To Rival Diplomas”
Purdue’s On Target Laboratories Lights Up the Fight Against Cancer
I have something in common with Sumith Kularatne, vice president of research and development for On Target Laboratories: We both lost our grandfathers to cancer at an early age. My grandpa, William Bobier, had colon cancer back in the days before regular colonoscopies were a standard part of preventative care. During the oppressively humid summer … Continue reading “Purdue’s On Target Laboratories Lights Up the Fight Against Cancer”
Anthem Caps Coverage Of Biogen Spine Drug Despite Wide FDA Approval
One of the nation’s major health insurers has placed limitations on access to the first-ever approved drug for the rare spinal muscular atrophy, validating patient fears that the high price tag of the drug, nusinersen (Spinraza), might make it hard for some with the disease to get treatment. Indianapolis-based Anthem (NYSE: [[ticker:ANTM]]) has disclosed its … Continue reading “Anthem Caps Coverage Of Biogen Spine Drug Despite Wide FDA Approval”
Report: Biotech VCs Perpetuate Boardroom Gender Gap
If power in the business world is centered in the boardroom, women in biotech have a long way to go to get their fair share—and the venture community deserves much of the blame. That’s according to British recruitment firm Liftstream and its new study of biotech companies that went public in the recent boom years. … Continue reading “Report: Biotech VCs Perpetuate Boardroom Gender Gap”
Ex-FDA Commish Califf Gives Props to Patient Groups—With Caveats
The nation’s former Food and Drug Administration commissioner Robert Califf, appearing for the first time since he resigned last week, told a Silicon Valley crowd this morning that the FDA will have to be flexible in coming years, allowing greater patient input into drug evaluation and leaning on outside watchdogs for help weeding out “imposters.” … Continue reading “Ex-FDA Commish Califf Gives Props to Patient Groups—With Caveats”
Roundup: 2016 VC Activity, Expansions, Hiring News, Fun Reads & More
Here’s a look at innovation news from around Indiana: —According to an analysis by TechPoint, a nonprofit organization promoting and accelerating the growth of Indiana’s tech industry, the latest PriceWaterhouseCoopers MoneyTree report indicates the state had a “banner year” in 2016 in terms of venture capital funding and acquisitions. The report found that 23 deals were … Continue reading “Roundup: 2016 VC Activity, Expansions, Hiring News, Fun Reads & More”
Business Leaders Talk Trump’s Impact on Visas, Drug Pricing, Insurance
Perhaps you’ve heard about the inauguration of one Donald J. Trump. Xconomy has been asking prominent members of the national innovation community for their thoughts on the incoming administration and its potential impact on their companies and industries. Here are responses from four business leaders in different cities across Xconomy’s network. Alex Lash, our national … Continue reading “Business Leaders Talk Trump’s Impact on Visas, Drug Pricing, Insurance”
Bio Roundup: Tom Price, Patient Conflicts, Orphan Games & More
The new president of the United States, Donald Trump, is being sworn in today amid a storm of questions about the plans that he, and those who might work for him, have in store for American healthcare and medicine. Trump’s nominee to run the $1 trillion Health and Human Services Department, Tom Price, answered—or didn’t … Continue reading “Bio Roundup: Tom Price, Patient Conflicts, Orphan Games & More”
Want to Ruin Your Relationships? Ask Family and Friends to Fund Your Startup
When you need cash to fuel your startup, it’s tempting to “think local.” The people with the strongest ties to you—relatives, friends, college roommates, running buddies, and co-workers—are the ones who believe in you. You’d probably turn first to them for financial support. Capital fronted by these folks might be the quickest, easiest cash you’ll … Continue reading “Want to Ruin Your Relationships? Ask Family and Friends to Fund Your Startup”
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”
Zimmer Biomet’s Robert Delp Promoted to President, Americas
Medical device company Zimmer Biomet (NYSE: [[ticker:ZBH]]) has named Robert Delp to the position of president, Americas, succeeding Stuart Kleopfer, who is retiring. Delp had previously served as the Warsaw, IN-based company’s vice president of U.S. sales. Delp starts his new role at Zimmer Biomet on Jan. 23, but Kleopfer will remain with the company … Continue reading “Zimmer Biomet’s Robert Delp Promoted to President, Americas”
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”
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”
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”
Agtech Startup FarmLogs Harvests $22M From Naspers-Led Series C Round
Farming has always been a data-intensive business but digital approaches to record keeping are starting to take root with more farmers. Agtech startup FarmLogs aims to capitalize on the trend, and it now has $22 million in additional financing to support those efforts. New investor Naspers Ventures led the round Series C round of financing. … Continue reading “Agtech Startup FarmLogs Harvests $22M From Naspers-Led Series C Round”
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”
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”
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”
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”
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”
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”
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)”
Healthx Obtains New Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=9311fdb6-6cf5-45a3-9d37-080a15e64b7e Date 1/6/2017 Company Name Healthx Mailing Address 9339 Priority Way West Drive Indianapolis, IN 46240 USA Company Description Healthx is the leading technology platform connecting health insurance plans and payers with members, providers, employers and brokers. Website http://www.healthx.com Transaction Type Venture Equity Transaction Amount Undisclosed Transaction Round Undisclosed Proceeds Purposes The … Continue reading “Healthx Obtains New Financing”