GHO Capital will use the money raised to invest in healthcare, including outsourced service providers, which are seeing demand from smaller biotechs, according to a Jefferies analyst. GHO Capital raised €975 million ($1.1 billion), which exceeded its €800 million target, and is 50% larger than its 2015 maiden fund. Fund II LP is the largest … Continue reading “GHO Capital Raises Over $1bn, Eyes Biotech Outsourcing Services”
Category: National
Stemonix, Atomwise Team Up on Drug Discovery With MicroOrgans and AI
Two venture-backed startups that have developed technologies intended to speed up the drug discovery and development process are combining those tools in a bid to achieve their goals together. San Francisco-based Atomwise has developed deep learning techniques for use in structure-based small molecule drug discovery. Since 2012 it has raised more than $50 million to … Continue reading “Stemonix, Atomwise Team Up on Drug Discovery With MicroOrgans and AI”
Veracyte Aims to Expand Diagnostics Reach With $50M NanoString Deal
[Updated 12/4/19, 4:01 p.m. ET. See below.] Veracyte, a company whose tests help physicians make treatment decisions, is adding technology from NanoString to the fold to expand its diagnostic capabilities. South San Francisco-based Veracyte (NASDAQ: [[ticker:VCYT]]) announced Tuesday that it has reached a deal for global rights to develop and commercialize diagnostics based on the … Continue reading “Veracyte Aims to Expand Diagnostics Reach With $50M NanoString Deal”
Partner or Die: How to Succeed Even After the Digital Health Hype Quiets Down
Editor’s note: This is Part 1 of a two-part piece on innovation in digital health, co-authored by Bryony Winn, chief strategy and innovation officer at Blue Cross and Blue Shield of North Carolina. Read Part 2 here. More than 6,500 people descended on HLTH in Las Vegas in late October to “solve the most pressing … Continue reading “Partner or Die: How to Succeed Even After the Digital Health Hype Quiets Down”
A Safer CRISPR? Cyrus, Broad Institute Look to Quell Concerns
Cyrus Biotechnology and the Broad Institute of MIT and Harvard have teamed up to make gene editing with the CRISPR-Cas9 technology safer. The multi-target collaboration, specific details of which are not being disclosed, aims to address longstanding concerns surrounding gene editing: some patients might be predisposed to an immune reaction to the DNA-cutting enzyme Cas9. … Continue reading “A Safer CRISPR? Cyrus, Broad Institute Look to Quell Concerns”
Astellas Bets On Gene Therapy With $3B Audentes Acquisition Offer
Japanese drug giant Astellas Pharma announced late Monday it has agreed to buy Audentes Therapeutics, which is developing gene therapies for rare neuromuscular diseases. It’s an all-cash deal worth $3 billion, with the Astellas offer of $60 per share representing a 110 percent premium to Audentes’ (NASDAQ: [[ticker:BOLD]]) share price of $28.61 apiece at market close … Continue reading “Astellas Bets On Gene Therapy With $3B Audentes Acquisition Offer”
Neurocrine Inks $50M Xenon Pharma Deal to Expand Into Epilepsy
Neurocrine Biosciences is paying $30 million cash and taking a $20 million equity stake in Xenon Pharmaceuticals to license a clinical-stage epilepsy drug and collaborate on other potential treatments for the seizure-causing brain disorder. The Xenon (NASDAQ: [[ticker:XENE]]) deal is the second one San Diego-based Neurocrine (NASDAQ: [[ticker:NBIX]]) has struck this year in a bid … Continue reading “Neurocrine Inks $50M Xenon Pharma Deal to Expand Into Epilepsy”
IFM Lands $55.5M to Launch NewCo Quattro and Discovery Incubator
IFM Therapeutics has raised $55.5 million to launch its third drug subsidiary as well as an incubator, both of which are focused on developing new therapies for inflammatory diseases and cancers. Those endeavors will be led by a familiar face. Boston-based IFM has promoted its vice president of research and development, Martin Seidel, to become … Continue reading “IFM Lands $55.5M to Launch NewCo Quattro and Discovery Incubator”
Deep 6 AI Adds $17M To Advance Clinical Trial Recruitment Software
Software startup Deep 6 AI has developed a system that analyzes a range of patient health records to accelerate the process of identifying candidates for clinical trial recruitment—a longstanding bottleneck in the drug development process. The Pasadena, CA-based company, founded in 2015, recently raised $17M in Series A funding to advance its software system, which … Continue reading “Deep 6 AI Adds $17M To Advance Clinical Trial Recruitment Software”
Biotech VC Down 20% in US as Policies Drive Away Foreign Investors, BIO Says
Reforms to a US national security regulation are putting off foreign investors and driving down VC investment in the biotech space by as much as 20 percent, says BIO’s David Thomas. In August 2018, Congress passed the Foreign Investment Risk Review Modernization Act (FIRRMA) as part of the Fiscal 2019 National Defense Authorization Act. The … Continue reading “Biotech VC Down 20% in US as Policies Drive Away Foreign Investors, BIO Says”
AstraZeneca, Novoheart to Co-Develop New Heart Model
AstraZeneca has turned to Novoheart’s “human heart-in-a-jar” technology to create a preclinical model that mimics a form of heart failure for which there is no effective therapy available. Based on Novoheart’s human ventricular cardiac organoid chamber (hvCOC) technology, the companies are aiming to develop a new in vitro model that can reproduce the characteristics of … Continue reading “AstraZeneca, Novoheart to Co-Develop New Heart Model”
La Jolla Pharma’s Share Price Halves On Trial End, CEO Departure
La Jolla Pharmaceutical is turning its focus to its lone FDA-approved product and another one in the pipeline after an experimental drug for a rare blood disease failed a late-stage study. On Monday, La Jolla Pharma (NASDAQ: [[ticker:LJPC]]) said it was halting a clinical trial testing LJPC-401, its drug candidate for iron overload in patients … Continue reading “La Jolla Pharma’s Share Price Halves On Trial End, CEO Departure”
AI Startup Healx Looks to Find Repurposable Drugs for Rare Diseases
Off the heels of a $56 million Series B funding round, Cambridge, UK-headquartered Healx is looking to partner with rare disease patient groups to advance treatments toward the clinic. The company’s artificial intelligence-powered drug discovery platform, Healnet, uses both public and proprietary biomedical data to identify and develop repurposed treatments, which are existing drugs that … Continue reading “AI Startup Healx Looks to Find Repurposable Drugs for Rare Diseases”
PhoenixMD Adds Seed Funding to Test Experimental Breast Cancer Drug
Phoenix Molecular Designs, a biotech developing kinase inhibitors to treat cancer, has brought in an undisclosed amount of financing—boosting its total seed funding raised to $12 million. The San Diego-based biotech says the proceeds will help fund the Phase 1/1b clinical trial of its lead candidate, PMD-026, an investigational cancer drug being developed to treat … Continue reading “PhoenixMD Adds Seed Funding to Test Experimental Breast Cancer Drug”
Global Blood’s Sickle Cell Drug Wins FDA Approval Ahead of Schedule
The FDA on Monday approved a Global Blood Therapeutics treatment for sickle cell disease, three months before the agency’s decision was expected. Regulators evaluated the drug, voxelotor (Oxbryta), under a pathway that allows for a speedier review using less evidence than is typically required. This pathway is reserved for drugs that address an unmet medical … Continue reading “Global Blood’s Sickle Cell Drug Wins FDA Approval Ahead of Schedule”
Ferring and Blackstone Team Up to Fund Gene Therapy Firm With $570M
Ferring Pharmaceuticals and Blackstone Life Sciences have formed a new company to commercialize a bladder cancer gene therapy that is currently in late-stage clinical testing. The new company, FerGene, is a subsidiary of Swiss pharmaceutical company Ferring, which is investing $170 million in the new unit. Blackstone has committed $400 million. In addition to US … Continue reading “Ferring and Blackstone Team Up to Fund Gene Therapy Firm With $570M”
Five Questions With a16z’s Vijay Pande on AI and Making New Drugs
In startup world these days, the word “biotech” is increasingly accompanied by “computational” and two, two-letter initialisms: AI and ML. Those tools—artificial intelligence and machine learning, respectively—have been around for decades, but in recent years have become faster and cheaper, accelerating their use by those in the business of discovering and developing new drugs. Another … Continue reading “Five Questions With a16z’s Vijay Pande on AI and Making New Drugs”
Novartis to Acquire MedCo and FDA-Ready Cholesterol Drug for $9.7B
Novartis has agreed to acquire The Medicines Company for $9.7 billion, a cash deal that brings it a compound that is poised to become part of a new wave of cholesterol-lowering drugs. With the acquisition, Swiss pharma giant Novartis (NYSE: [[ticker:NVS]]) aims to compete with two other next-generation cholesterol drugs now being marketed by Amgen … Continue reading “Novartis to Acquire MedCo and FDA-Ready Cholesterol Drug for $9.7B”
Bio Roundup: So Long Celgene, RNAi’s Arrival, Pharma in 2020 & More
Bristol-Myers Squibb this week completed its acquisition of Celgene, a $74 billion deal that creates a pharmaceutical juggernaut. And all it took was the largest asset sale ever required by federal antitrust regulators. As the Federal Trade Commission reviewed Bristol’s (NYSE: [[ticker:BMS]]) deal to acquire Celgene, anti-inflammatory drug apremilast (Otezla) emerged as a sticking point. … Continue reading “Bio Roundup: So Long Celgene, RNAi’s Arrival, Pharma in 2020 & More”
With Cell-By-Cell Take on Drug Discovery, Immunitas Debuts With $39M
A cancer tumor is a veritable patchwork of cells with a variety of genetic fingerprints. Immunitas Therapeutics is using single-cell genomics—an approach that studies the genetic activity of individual cells—to peer deeply into patient tumors and more precisely determine what is fueling the growth. With that knowledge, the company plans to develop new targets for … Continue reading “With Cell-By-Cell Take on Drug Discovery, Immunitas Debuts With $39M”
Alnylam Gets Quick FDA OK for Second RNAi Rare Disease Drug
[Updated 11/21/19, 10:05 a.m. See below.] An Alnylam Pharmaceuticals drug developed to treat a rare, inherited metabolic disorder won FDA approval on Wednesday, the second regulatory nod the company has received for a drug that turns off a gene to prevent it from causing disease. The FDA approved the Alynlam (NASDAQ: [[ticker:ALNY]]) drug givosiran (Givlaari) … Continue reading “Alnylam Gets Quick FDA OK for Second RNAi Rare Disease Drug”
Liquid Biopsy Firm Lucence Plans Bay Area Buildout With $20M in Tow
Lucence, a genomic medicine company developing blood-based tests for cancer screening and treatment selection, announced this week the close of a $20 million Series A funding round led by IHH Healthcare. CEO and founder Min-Han Tan (pictured) says the investment will be used to scale the Singapore-based company’s clinical lab operations—notably in the US, with … Continue reading “Liquid Biopsy Firm Lucence Plans Bay Area Buildout With $20M in Tow”
Biopharma Execs Remain Optimistic Despite Political Headwinds
Drug pricing debates and uncertainty associated with Brexit are the issues most likely to keep biopharmaceutical executives awake at night. Nevertheless, senior figures remain optimistic about the industry’s prospects in 2020. These are among the major findings of a survey of 500 industry leaders and investors conducted by investment bank Jefferies. “Nearly half of respondents … Continue reading “Biopharma Execs Remain Optimistic Despite Political Headwinds”
France-Based Tissium Boosts US Work After Closing €38.75M Series B
Tissium is targeting Boston’s biotech scene to advance its platform of proprietary biopolymers after building out its manufacturing capabilities in France. Backed by a €38.75 million ($42.78 million) Series B funding round, the company is moving forward with several development programs examining the polymer’s use in various applications. “Since the inception of the company Boston … Continue reading “France-Based Tissium Boosts US Work After Closing €38.75M Series B”
Myovant to Seek FDA OK on Pill to Treat Advanced Prostate Cancer
A drug candidate once shelved by Takeda Pharmaceutical (NYSE: [[ticker:TAK]]) has found new life within Roivant Sciences spinout Myovant as a potential once-daily oral hormone therapy for patients with advanced prostate cancer. The Brisbane, CA-based biotech company (MYSE: [[ticker:MYOV]]) reported Tuesday that the drug, relugolix, met the primary goal of a Phase 3 trial, lowering … Continue reading “Myovant to Seek FDA OK on Pill to Treat Advanced Prostate Cancer”
Reata Rakes In $505M to Advance Development of Two Rare Disease Drugs
Reata Pharmaceuticals on Tuesday closed a stock sale, raising $505.1 million to advance the company’s two lead drug candidates to regulatory review. Reata’s stock price jumped last week after the company announced its investigational drug, bardoxolone methyl (bard), met the main goal of a Phase 3 clinical trial testing it as a treatment for Alport … Continue reading “Reata Rakes In $505M to Advance Development of Two Rare Disease Drugs”
Novo Ventures Commits $25M to Grow Discovery “Greenhouse” in Boston
Novo Ventures has committed up to $25 million (€23 million) over a five-year period to fund seed-stage drug discovery projects at the Broad Institute of MIT and Harvard in a deal which it says will propel it into the Massachusetts biotech community. The new biotech accelerator, dubbed the Novo Broad Greenhouse, will support between five … Continue reading “Novo Ventures Commits $25M to Grow Discovery “Greenhouse” in Boston”
With “Inflection Year” Ahead, Ovid Adds Novartis’s Tardio to C-Suite
About five years ago, former Teva Pharmaceutical CEO Jeremy Levin launched Ovid Therapeutics with a plan to develop treatments for rare brain diseases. Now, with the completion of a clinical trial on the horizon anticipated to provide enough data to file for FDA approval, the 55-person biotech has recruited a Novartis (NYSE: [[ticker:NVS]]) executive to … Continue reading “With “Inflection Year” Ahead, Ovid Adds Novartis’s Tardio to C-Suite”
Underdog Launches With $4M to Target “Toxic” Form of Cholesterol
Underdog Pharmaceuticals has launched with nearly $4 million in seed funding to develop treatments for atherosclerosis, a progressive condition in which arteries become clogged with substances such as fats and cholesterol, which restricts blood flow. Based in Mountain View, CA, Underdog is a spinout of the nonprofit SENS Research Foundation (SRF). Matthew O’Connor and Michael … Continue reading “Underdog Launches With $4M to Target “Toxic” Form of Cholesterol”
Alkermes Eyes Brain Disorders and Beyond With $100M Deal for Rodin
[Updated 5:55 p.m. See below.] Rodin Therapeutics has limited data from human studies about its neurodegeneration drug, but the company’s new approach to treating brain disorders has proven attractive enough for Alkermes to plunk down $100 million to buy the startup. According to financial terms announced Monday, the cash sum is an upfront payment. Depending … Continue reading “Alkermes Eyes Brain Disorders and Beyond With $100M Deal for Rodin”
ResTORbio’s Respiratory Drug Flunks Phase 3 Test, Shattering Shares
A resTORbio respiratory drug has failed a late-stage test, and the company is stopping further development of the compound for lung infections in elderly patients. In the first of two Phase 3 studies, resTORbio on Friday released preliminary data showing that its drug, RTB101, did not beat a placebo. Though the Boston-based company won’t proceed … Continue reading “ResTORbio’s Respiratory Drug Flunks Phase 3 Test, Shattering Shares”
Biotech Roundup: Gottlieb v. Juul, Solid Slumps, Avidity Gets $100M & More
Lung injuries connected to the use of electronic cigarettes have topped 2,000 and killed 40 people, according to the Centers for Disease Control and Prevention. It’s still unclear whether the cases are tied to legally sold products or devices modified by e-cigarette users, but the CDC this week identified a “potential toxin of concern”—Vitamin E … Continue reading “Biotech Roundup: Gottlieb v. Juul, Solid Slumps, Avidity Gets $100M & More”
Daré to Add Microchip-Based Birth Control to Women’s Health Portfolio
The list of activities our smartphones can control grows daily. Transfer money? It’s simple. Order groceries? That, too. Turn off the bedroom lights? Check. How about contraception? Advancing new forms of birth control is a central focus at Daré Bioscience (NASDAQ: [[ticker:DARE]]), a San Diego-based biopharma company that’s built a pipeline of experimental devices and … Continue reading “Daré to Add Microchip-Based Birth Control to Women’s Health Portfolio”
Startup X-37 Raises $14.5M to Expand on AI-Powered Drug Discovery
Launched just last year, artificial intelligence-powered drug discovery company X-37 now has raised $14.5 million in Series A financing to expand its development programs. Co-founded by Atomwise and a team from Velocity Pharmaceutical Development, the San Francisco, CA-based company uses Atomwise’s AI platform for structure-based drug design to screen chemical compounds against pharmaceutical targets. DCVC … Continue reading “Startup X-37 Raises $14.5M to Expand on AI-Powered Drug Discovery”
Bayer and Dewpoint Ink Deal for Drugs R&D at New Frontier of Biology
[Updated, 12:15 p.m. See below.] Inside of a cell, some proteins and RNA are concentrated in liquid droplets that assemble in formation during a variety of cellular functions. Dewpoint Therapeutics is making headway understanding the role these droplets play in disease, and that work now has Bayer as a research partner. Bayer and Dewpoint on … Continue reading “Bayer and Dewpoint Ink Deal for Drugs R&D at New Frontier of Biology”
Calporta, Started by Avalon Ventures-GSK, Is Acquired by Merck
Another of the biopharma startups created as part of a collaboration between San Diego investment firm Avalon Ventures and GlaxoSmithKline has been acquired—but not by GSK. Instead, the company, Calporta Therapeutics, is being absorbed by Merck (NYSE: [[ticker:MRK]]), which is interested in its preclinical work on potential treatments for lysosomal storage and neurodegenerative diseases, including … Continue reading “Calporta, Started by Avalon Ventures-GSK, Is Acquired by Merck”
Avidity Bio Adds $100M to Advance R&D of Muscle Disorder Drugs
Earlier this year, Avidity Biosciences and Eli Lilly began a partnership to develop new drugs based on the biotech’s technology for delivering genetic material to cells. On Wednesday, Lilly was among a group of investors that joined a $100 million financing for the company. The funding, a Series C round, was led by RTW Investments. … Continue reading “Avidity Bio Adds $100M to Advance R&D of Muscle Disorder Drugs”
Reata’s Kidney Drug Hits Goals of Key Study, Paves Way for FDA Filing
About half of all patients with the most severe form of Alport syndrome, a rare, genetic type of chronic kidney disease, will need dialysis or a transplant by age 25. On Monday, Reata Pharmaceuticals (NASDAQ: [[ticker:RETA]]) announced that its investigational drug for those with Alport syndrome, bardoxolone methyl (bard), met the main goal of a … Continue reading “Reata’s Kidney Drug Hits Goals of Key Study, Paves Way for FDA Filing”
FDA Again Halts Solid Bio’s Duchenne Gene Therapy Clinical Trial
The FDA has stopped a clinical trial testing a Solid Biosciences gene therapy for Duchenne muscular dystrophy after a patient developed complications associated with the experimental treatment. Cambridge, MA-based Solid Bio says the problems deemed to be related to the gene therapy included an immune system reaction, a decrease in red blood cells, kidney injury, … Continue reading “FDA Again Halts Solid Bio’s Duchenne Gene Therapy Clinical Trial”
Roche Challenger to Biogen’s SMA Drug Succeeds in Pivotal Study
A Roche drug in development as a treatment for spinal muscular atrophy achieved the main goals of a key study, helping to build the case that the drug could challenge a Biogen therapy already approved for the rare disorder. Roche announced Monday that its drug, risdiplam, met the main goal of showing improvement according to … Continue reading “Roche Challenger to Biogen’s SMA Drug Succeeds in Pivotal Study”
Neuroscience Is Taking the Spotlight at Xconomy’s Bay Area Xchange
These are heady times for neuroscience research. Startups developing new approaches to brain disorders are raising money to advance their discoveries toward clinical trials. One failed neuro drug is getting another shot. On Nov. 19 in San Francisco, we’ll hold the latest in our Xchange event series. What’s Next in Neuroscience Therapies will take a … Continue reading “Neuroscience Is Taking the Spotlight at Xconomy’s Bay Area Xchange”
Looking to Level Up in NASH, Novo Nordisk Licenses Ube Drug Candidate
Danish diabetes giant Novo Nordisk took another step this week in its efforts to establish a presence in nonalcoholic steatohepatitis, or NASH, a metabolic disorder closely related to diabetes that is anticipated to become the leading cause of liver transplants in the US in coming years. The company Thursday announced it had inked a deal … Continue reading “Looking to Level Up in NASH, Novo Nordisk Licenses Ube Drug Candidate”
Anemia Drug From Acceleron Pharma and Celgene Wins FDA Approval
[Updated 6:41 p.m. See below.] A drug that Celgene and Acceleron Pharma developed to treat low red blood cell levels in patients who have a rare blood disorder now has regulatory clearance to enter the market. The FDA on Friday approved luspatercept (Rebloyzl) for patients who have beta thalassemia, an inherited disorder that leads to … Continue reading “Anemia Drug From Acceleron Pharma and Celgene Wins FDA Approval”
Bio Roundup: Feds Sue Gilead, Biogen Eyes China, CRISPR’d Kidneys & More
During the state of the union address this year, President Trump pledged to end HIV transmission within the next decade. A key part of that plan is an HIV prevention drug made by Gilead Sciences. That drug has now become the center of a patent dispute between the Foster City, CA, drug maker and the … Continue reading “Bio Roundup: Feds Sue Gilead, Biogen Eyes China, CRISPR’d Kidneys & More”
Odylia Therapeutics Names Ashley Winslow Its Chief Scientific Officer
Ashley Winslow is joining Atlanta, GA-based Odylia Therapeutics, a nonprofit organization that aims to accelerate the development of gene therapies for people with inherited retinal disease, as its chief scientific officer. Most recently she was the senior director of portfolio development and translational research at the Orphan Disease Center at the University of Pennsylvania; she … Continue reading “Odylia Therapeutics Names Ashley Winslow Its Chief Scientific Officer”
Teva Pharmaceutical Appoints Eli Kalif As New Chief Financial Officer
Israeli generics giant Teva Pharmaceutical (NYSE: [[ticker:TEVA]]) announced Thursday that it had appointed Eli Kalif as its new executive vice president and chief financial officer. Kalif, who was most recently a senior vice president, finance, at Flex (NASDAQ: [[ticker:FLEX]]), a US technological manufacturer, succeeds Mike McClellan, who held the role for the past two years.
eGenesis Lands $100M to Advance CRISPR-ed Pig Kidney to Human Test
Biotech startup eGenesis, which is applying gene editing to animal organs in order to make them suitable for human transplant, has raised $100 million to ramp up work on its kidney program and bring it into human testing. The Series B round of funding was led by the investment arm of Fresenius Medical Care, a … Continue reading “eGenesis Lands $100M to Advance CRISPR-ed Pig Kidney to Human Test”
Arkuda Unveils $44M and a Protein Restoration Approach to Dementia
The onset of one of the most devastating forms of dementia often comes with a misdiagnosis. Personality and behavioral changes in a patient can spark a hypothesis of depression or psychosis. Memory problems rouse suspicion of Alzheimer’s disease. By the time a physician determines frontotemporal dementia as the cause, the disease is well on its … Continue reading “Arkuda Unveils $44M and a Protein Restoration Approach to Dementia”
AI Can Unlock Health Data’s Potential, But Access Is Still Difficult
When Mark Bakken formed the healthcare technology investment firm HealthX Ventures nearly five years ago, he says hospitals, insurers, and other potential buyers of digital health products were less open to conversations with the kinds of early-stage healthtech startups Bakken’s firm wanted to back. At the time, healthcare organizations’ top priority was installing electronic medical … Continue reading “AI Can Unlock Health Data’s Potential, But Access Is Still Difficult”
3 Changes We Should Make to Address the Gender Pay Gap in Medicine
Women in medicine earn about 20 percent less than men. That is a problem for multiple reasons. It is, of course, not fair to the women who go through the same training and have the same skills as their male counterparts. Worse still, if well-qualified women are discouraged from entering the profession because of this … Continue reading “3 Changes We Should Make to Address the Gender Pay Gap in Medicine”