Wall Street welcomed three life science companies to the public markets this week. 10x Genomics led the way Wednesday, followed by SpringWorks Therapeutics and Satsuma Pharmaceuticals on Thursday. Combined, the three companies raised more than $595 million from their IPOs. According to IPO research firm Renaissance Capital, 153 companies have filed the paperwork this year … Continue reading “SpringWorks and Satsuma Boost This Week’s Biotech IPO Haul to $595M”
Category: National
The Winners of the 2019 Xconomy Awards Boston Are…
Even after three years, it doesn’t get any easier to choose the winners of the Xconomy Awards in Boston. There were multiple deserving winners in each category this year. But after much discussion and debate among our judges and the editors, we decided that these winners represent the best of the Boston life sciences community. … Continue reading “The Winners of the 2019 Xconomy Awards Boston Are…”
Tocagen Stock Tanks After Gene Therapy Drug for Brain Cancer Fails
Tocagen’s experimental gene therapy for brain cancer therapy has failed a late-stage test, sinking the biotech’s stock price below $1. San Diego’s Tocagen (NASDAQ: [[ticker:TOCA]]), has been testing its drug in recurrent high-grade glioma, the most common and deadly type of brain cancer in adults. The company said Thursday that the drug combination, Toca 511 … Continue reading “Tocagen Stock Tanks After Gene Therapy Drug for Brain Cancer Fails”
John Halamka, Livongo Health & AI Progress at X·CON on Oct. 22
The consumerization of healthcare is accelerating. Within five years, a “significant percentage” of healthcare services will be run through mobile apps and other digital tools, predicts John Halamka, a Boston-based doctor and prominent digital health expert. Halamka shared his prognostication in a recent conversation, but we’ll dive more deeply into his vision for healthcare’s tech-enabled … Continue reading “John Halamka, Livongo Health & AI Progress at X·CON on Oct. 22”
As More Grocers Embrace Tech, Swiftly Snags $15M to Launch in Seattle
[Updated 9/12/19 1:10 p.m. See below.] Swiftly, a Seattle-based startup developing software to provide discounts and rewards for buying goods at grocery stores, exited stealth mode this week with an announcement it has raised more than $15 million in outside investment. The company, which has been keeping many details about its business under wraps, launched in … Continue reading “As More Grocers Embrace Tech, Swiftly Snags $15M to Launch in Seattle”
FDA Doesn’t Shell Peanut Allergy Drug Pre-Hearing, Aimmune Shares Climb
Peanut allergy sufferers know they need to stay away from certain foods that can put them in danger. But what about accidental exposure? Even trace amounts of peanut protein in their food or someone else’s can trigger an allergic reaction that sends them to the hospital. That’s what makes Palforzia, an experimental peanut allergy treatment … Continue reading “FDA Doesn’t Shell Peanut Allergy Drug Pre-Hearing, Aimmune Shares Climb”
After Investing, GSK to Buy Out Celiac Drug Developer Sitari Pharma
GlaxoSmithKline is acquiring a startup it helped launch in 2013 as part of an alliance with life sciences venture capital firm Avalon Ventures. Avalon said Tuesday that GSK (NYSE: [[ticker:GSK]]) has agreed to buy the company, Sitari Pharmaceuticals, which has been developing a treatment for celiac disease. Sitari was the first of eight companies spun … Continue reading “After Investing, GSK to Buy Out Celiac Drug Developer Sitari Pharma”
Phil Sharp, CRISPR’ing the Heart & the Duchenne Data Gap on Oct. 17
Phil Sharp is one of the godfathers of biotech. He’s an MIT biologist, Nobel laureate and, as a Biogen (NASDAQ: [[ticker:BIIB]]) co-founder, one of the people responsible for turning Kendall Square into the biopharma epicenter it is today. Next month, he will share his story, the lessons he’s learned along the way, what he’s up … Continue reading “Phil Sharp, CRISPR’ing the Heart & the Duchenne Data Gap on Oct. 17”
After First Look at House Drug Plan, Stocks Rise Slightly
The first details of the long-awaited House Democrat plan to lower drug prices leaked out Monday night, with elements that have long been anathema to the biopharma industry and its supporters in Washington. While the world digested the details Tuesday, however, biopharma investors didn’t seem fazed. Some individual companies saw shares dip, but the biopharma … Continue reading “After First Look at House Drug Plan, Stocks Rise Slightly”
Herceptin Inventors, Immunology Pioneers Take Home 2019 Lasker Awards
This year’s Lasker Awards, the US’s most prestigious biomedical honor, are going to five scientists whose work led to a critical breast cancer treatment and significant basic research advances that have helped pave the way for immunotherapy. H. Michael Shepard, Dennis Slamon, and Axel Ullrich won the Lasker-DeBakey Clinical Medical Research Award for inventing trastuzumab … Continue reading “Herceptin Inventors, Immunology Pioneers Take Home 2019 Lasker Awards”
Shopify Buys 6 River Systems for $450M to Boost Fulfillment Centers
Ecommerce software company Shopify will purchase warehouse robotics startup 6 River Systems in a $450 million deal aimed at improving logistics in its new system of fulfillment centers. Based in Waltham, MA, 6 River Systems makes robotic carts for order fulfillment centers that learn the warehouse layout and product locations in order to help workers more efficiently … Continue reading “Shopify Buys 6 River Systems for $450M to Boost Fulfillment Centers”
Challenging CRISPR, Trucode Raises $34M for New Gene-Editing System
Gene-editing technology offers the potential to treat inherited disorders with selective edits and corrections to an afflicted individual’s genetic code. But with such molecular tinkering comes with the risk of unintended changes to the genome. Biotech startup Trucode Gene Repair is developing technology that it claims can edit genes in a way that reduces the … Continue reading “Challenging CRISPR, Trucode Raises $34M for New Gene-Editing System”
San Diego Life Sciences Roundup: SGI-DNA, ZeaKal, DelMar Pharma & More
Fall is finally arriving, as indicated by the recent shortened work week, and few may object given the unseasonably hot, muggy weather San Diego has been experiencing recently. Track down somewhere with AC, then catch up on recent developments in the local life sciences scene. —SGI-DNA, a recent spinout of Synthetic Genomics (SGI), has raised … Continue reading “San Diego Life Sciences Roundup: SGI-DNA, ZeaKal, DelMar Pharma & More”
Your Car Is Hackable—Here Are Three Steps You Can Take
We’re used to protecting the information on our smartphones by keeping strong passwords and setting a lock screen. But fewer people know about the importance of protecting the information in their vehicles. Earlier this year, the automotive shopping website CarGurus asked 1,020 consumers questions about common security practices and the risks of connected cars. Here … Continue reading “Your Car Is Hackable—Here Are Three Steps You Can Take”
Amazon, With More WA Workers than Microsoft, Eyes Adding 10K More
Jeff Bezos and company are looking for a few good men and women—well, perhaps more than a few, especially in and around Amazon’s home turf. Buoyed by years of staggering growth but also facing a tight labor market, Amazon (NASDAQ: [[ticker:AMZN]]) will work to fill 30,000 jobs across the US by 2020, the tech giant … Continue reading “Amazon, With More WA Workers than Microsoft, Eyes Adding 10K More”
Acadia Stock Jumps on Positive Dementia-Related Psychosis Drug Data
An Acadia Pharmaceuticals drug that’s already approved for psychosis associated with Parkinson’s disease could soon be heading to an FDA review to expand the use of the drug to dementia patients. On Monday, Acadia (NASDAQ: [[ticker:ACAD]]) reported that its drug, pimavanserin, met the goal of delaying relapse of psychosis in dementia patients compared to a … Continue reading “Acadia Stock Jumps on Positive Dementia-Related Psychosis Drug Data”
Epstein Fallout: Joi Ito Resigns From MIT Media Lab, Multiple Boards
The ripple effects from a report Friday in The New Yorker about ties between the MIT Media Lab and disgraced financier and convicted sex offender Jeffrey Epstein continue to spread. After Joi Ito resigned as the Media Lab’s director on Saturday, he also relinquished high-profile board seats with The New York Times Company, the Knight … Continue reading “Epstein Fallout: Joi Ito Resigns From MIT Media Lab, Multiple Boards”
As New CEO of Cerevel, Coles Moves From One Neuro Startup to Another
Tony Coles, the biotech veteran who once steered Onyx Pharmaceuticals into a $10 billion buyout, has left one neurology startup to join another. Coles on Monday was named the CEO of Cerevel Therapeutics, a Boston company that Pfizer (NYSE: [[ticker:PFE]]) and Bain Capital launched in October 2018 with $350 million in funding. The appointment marks the … Continue reading “As New CEO of Cerevel, Coles Moves From One Neuro Startup to Another”
At Big Lung Cancer Meeting, Lights Shine on KRAS, Drug Combos & More
The treatment landscape for lung cancer has shifted significantly over the past few years, and more changes could be on the way. At the World Conference on Lung Cancer in Barcelona this weekend a number of drug makers trotted out some of their latest advances in immunotherapy, targeted pills, drug combinations, and more. Xconomy rounded … Continue reading “At Big Lung Cancer Meeting, Lights Shine on KRAS, Drug Combos & More”
Home Buying Tech Startup Savvy Lane Lands $2M for West Coast Growth
Savvy Lane, a startup developing technology and services to help lower the cost of buying or selling a home, announced Friday it has raised $2 million in outside investment to support its growth. Seattle-based Savvy Lane did not identify the investor that provided the funding, saying only that it came from “a notable public company … Continue reading “Home Buying Tech Startup Savvy Lane Lands $2M for West Coast Growth”
Frequency Plans IPO for Hearing Loss Drug & More Regenerative Meds
Hearing loss affects millions of Americans but to date, there are no FDA-approved medicines to treat them. Frequency Therapeutics is developing a hearing loss drug that taps into the body’s regenerative capabilities. As the company prepares to advance the experimental treatment to mid-stage studies, it is planning an IPO to finance the research. Frequency set … Continue reading “Frequency Plans IPO for Hearing Loss Drug & More Regenerative Meds”
Bio Roundup: MedCo’s Pricing Plan, Vertex’s Gamble, uBiome Undone
Being first to market with a new type of drug brings advantages. The first mover sets the bar for what physicians, payers, and patients can expect of that medicine and how much it costs. It grabs market share that followers have to steal away. But the first mover isn’t infallible if someone else has something … Continue reading “Bio Roundup: MedCo’s Pricing Plan, Vertex’s Gamble, uBiome Undone”
Boston Tech Watch: MIT Epstein, Notarize Cash, New Carbonite Execs
For a week shortened by the Labor Day holiday heralding the coming end of summer, the past few days yielded their fair share of Boston-area technology business news. Read on for a roundup of the news. —MIT Media Lab co-founder Nicholas Negroponte reportedly argued it was right to take money from disgraced financier and convicted … Continue reading “Boston Tech Watch: MIT Epstein, Notarize Cash, New Carbonite Execs”
WI Watchlist: Epic, Frontdesk, Shine, StartingBlock Madison & More
With summer coming to a close, it’s time to catch up on recent happenings in Wisconsin’s innovation clusters. Read on for details. —Epic Systems, the electronic medical records giant, unveiled several new products at its annual Users Group Meeting held at its headquarters near Madison. Per a report by the Wisconsin State Journal, the additions … Continue reading “WI Watchlist: Epic, Frontdesk, Shine, StartingBlock Madison & More”
Novartis & IFM Team Up Again, With Buyout Option for Autoimmune R&D
IFM Therapeutics has lined up another pact with a big pharma company, and it’s the second one in less than a year with Novartis. Boston-based IFM Therapeutics announced Thursday that Novartis (NYSE: [[ticker:NVS]]) has agreed to pay the research and development costs of IFM Due, a subsidiary developing immunotherapies for inflammatory and autoimmune diseases. Novartis … Continue reading “Novartis & IFM Team Up Again, With Buyout Option for Autoimmune R&D”
Startup Aquacycl Raises $4M To More Efficiently Treat Wastewater
Making beer is a water-intensive process: Along with the water that goes into the product itself, another five to seven gallons of wastewater is produced for every gallon of the good stuff because of cleaning, cooling, and packing during a brew. The leftover grains and unused water, chock-full of sugars and alcohol, is expensive to … Continue reading “Startup Aquacycl Raises $4M To More Efficiently Treat Wastewater”
Cogito Raises $20M to Expand Call Center Emotional Intelligence
Cogito CEO Joshua Feast isn’t convinced that artificial intelligence will topple the staffing model for call centers. Customer service is not destined—at least anytime soon, he believes—to be handed off completely to voice assistant chatbots that can handle all the problems and frustrations a customer can send through a phone line. “I believe humans will … Continue reading “Cogito Raises $20M to Expand Call Center Emotional Intelligence”
SF’s Ginger Raises $35M in Burgeoning Digital Therapeutics Market
Ginger, a San Francisco-based digital health startup developing software to help patients manage mental and behavioral health conditions, announced Wednesday it has raised $35 million from investors to offer its service to more people who experience stress, depression, and other conditions. People can use Ginger’s mobile app to participate in virtual therapy sessions with behavioral … Continue reading “SF’s Ginger Raises $35M in Burgeoning Digital Therapeutics Market”
As Clean Power Buying Surges, LevelTen Helps Firms Track Energy Data
LevelTen Energy, a Seattle-based startup that helps corporations make renewable energy purchases, on Wednesday released new performance monitoring software it says allows users to better track energy usage, market data, and other key metrics. Launched in 2016, LevelTen seeks to give more businesses access to the power purchase agreements that large corporations and other energy … Continue reading “As Clean Power Buying Surges, LevelTen Helps Firms Track Energy Data “
Bankrupt uBiome Says Founders May Have Misled Investors
[Updated, 9/5/19, 1:17am. See below.] Less than a year after reeling in a $83 million investment round, privately held microbiome startup uBiome has filed for bankruptcy and says its founders might have misled those investors amid other potential improper business practices. The allegations of impropriety, made more dramatic by an FBI raid earlier this year, … Continue reading “Bankrupt uBiome Says Founders May Have Misled Investors”
Vir Bio Plans IPO to Fund Clinical Trials of Infectious Disease Drugs
Vir Biotechnology assembled its pipeline of infectious disease compounds through deal-making with other drug developers, along with financial support from blue-chip venture capital firms and the non-profit Bill & Melinda Gates Foundation. Now the biotech is turning to the public markets for the cash to continue clinical tests of its most advanced drug candidates. San … Continue reading “Vir Bio Plans IPO to Fund Clinical Trials of Infectious Disease Drugs”
Vertex Bets $950M on Semma and a Stem Cell Therapy for Diabetes
Vertex Pharmaceuticals is paying $950 million to acquire Semma Therapeutics, a biotech startup developing a stem cell therapy for type 1 diabetes. The deal announced Tuesday is Vertex’s first step into the diabetes field and is the latest in a string of moves the Boston company has made to diversify beyond its core franchise of … Continue reading “Vertex Bets $950M on Semma and a Stem Cell Therapy for Diabetes”
With FDA’s Eye on JAK Drugs, Concert Moves One Ahead For Hair Loss
Despite the safety concerns that have recently emerged for class of drugs known as JAK inhibitors, their reach continues to grow. The latest example comes from Concert Pharmaceuticals, which is racing the drug giant Pfizer to develop a medicine for a common skin disease that causes hair loss. Concert (NASDAQ: [[ticker:CNCE]]) is disclosing this morning … Continue reading “With FDA’s Eye on JAK Drugs, Concert Moves One Ahead For Hair Loss”
As Cholesterol Drug Aces Big Test, MedCo CEO Open to Flexible Pricing
The Medicines Co. (NASDAQ: [[ticker:MDCO]]) announced last week that its cholesterol-lowering medicine inclisiran, meant to be taken just twice a year, had passed a key test but offered no details. Some of those details arrived this morning. At a medical meeting in Paris, a presentation from the test, a 1,617-patient Phase 3 study called ORION-11, … Continue reading “As Cholesterol Drug Aces Big Test, MedCo CEO Open to Flexible Pricing”
Patent Challenge to Alexion Proceeds, But No Amgen Biosimilar Yet
Three patents that extend the exclusivity of Alexion Pharmaceuticals’ franchise rare disease drug will now face a patent challenge from Amgen. On Friday, a court within the US Patent and Trademark Office agreed to a review of Amgen’s claims that three Alexion (NASDAQ: [[ticker:ALXN]]) patents covering its drug, eculizumab (Soliris), were anticipated or obvious, and … Continue reading “Patent Challenge to Alexion Proceeds, But No Amgen Biosimilar Yet”
Robocalls Crowd Out Real Business Calls. This Startup Has an Answer.
The ways in which robocallers try to dupe us are becoming almost as plentiful as the frequency of the calls. An unknown phone number was once all scammers needed to trick the average person into picking up the call. Now, new hoaxes are making it increasingly difficult to avoid fraud, such as the “one ring” … Continue reading “Robocalls Crowd Out Real Business Calls. This Startup Has an Answer.”
Bio Roundup: Cholesterol Check, J&J’s Opioid Hit, AbbVie’s Flop & More
You might be camping, barbecuing, or sleeping on Monday. It’s Labor Day, after all. But in Paris, this cardiologist will be in a conference center, walking an audience through a slide deck packed with Phase 3 data for a new cholesterol-lowering drug, inclisiran. Inclisiran’s owner, the Medicines Co., jumped the presentation by a week, promising … Continue reading “Bio Roundup: Cholesterol Check, J&J’s Opioid Hit, AbbVie’s Flop & More”
Boston Tech Watch: DraftKings Drives, The Engine Revs, NuTonomy Swaps
[Updated 12:35 pm, 8/30/19. Clarified new DraftKings venture.] Welcome to August’s automotive-themed tech news round-up. This week’s batch of news features a dose of updates that range from self-driving cars to funds or new ventures that sound close enough to being automotive-related (but aren’t) that I just couldn’t pass up making a point about it. … Continue reading “Boston Tech Watch: DraftKings Drives, The Engine Revs, NuTonomy Swaps”
$5.8B for Nothing: AbbVie Shelves Stemcentrx Drug After Latest Flop
AbbVie has officially waved the white flag on the cancer drug that triggered its $5.8 billion buyout of Stemcentrx a few years ago. North Chicago, IL-based AbbVie (NYSE: [[ticker:ABBV]]) said that rovalpituzumab tesirine, or Rova-T, failed another clinical trial—this time a Phase 3 study, MERU, testing the drug as a maintenance therapy in patients with … Continue reading “$5.8B for Nothing: AbbVie Shelves Stemcentrx Drug After Latest Flop”
Ring Confirms Report, Says It Works With More Than 400 Police Agencies
Ring, the Amazon-owned maker of camera-equipped doorbells that let users monitor activity around their homes, has confirmed exactly how extensive its video-sharing deal is with law enforcement agencies around the US. Ring has partnered with 405 US police forces to allow officers to request footage recorded by local residents’ devices, Ring CEO Jamie Siminoff wrote … Continue reading “Ring Confirms Report, Says It Works With More Than 400 Police Agencies”
Celgene Adds Cell Therapies From Immatics With Bristol Sale in Sight
Even as its sale to Bristol-Myers Squibb (NYSE: [[ticker:BMY]]) inches closer to completion, Celgene—long known for its web of biotech partnerships—has inked another alliance. Celgene (NASDAQ: [[ticker:CELG]]) will co-develop three cell therapies for cancer with Immatics, a German biotech with ties to MD Anderson Center Center in Houston. Celgene will pay Immatics $75 million in … Continue reading “Celgene Adds Cell Therapies From Immatics With Bristol Sale in Sight”
ThoughtSpot Nabs $248M for Accessible Analytics, Nears $2B Valuation
ThoughtSpot, a software company formed to make data analytics accessible for business staffers without data science expertise, announced today it raised $248 million in a Series E funding round that set its valuation at $1.95 billion. Sunnyvale, CA-based ThoughtSpot, founded in 2012, made it a core mission to enable its customers’ non-technical workers to mine … Continue reading “ThoughtSpot Nabs $248M for Accessible Analytics, Nears $2B Valuation”
Ionis Gets $25M From GSK for Experimental Hepatitis B Program
Infections caused by the hepatitis B virus, which attacks the liver, are typically treated with drugs that keep the virus from making ever more copies of itself. However, because those treatments reduce but don’t eliminate the virus, patients have to take the drugs indefinitely, according to the World Health Organization. Ionis Pharmaceuticals (NASDAQ: [[ticker:IONS]]) has … Continue reading “Ionis Gets $25M From GSK for Experimental Hepatitis B Program”
NuTonomy Switches to Chrysler For More Elbow Room in Self-Driving Cars
There’s a time in a self-driving car company’s life where a minivan is just more sensible than a sleek, European city car. NuTonomy, the autonomous vehicle startup spun out of MIT that’s putting its systems through their paces on the streets of South Boston, says it has “decommissioned” its fleet of five-door, “supermini” electric cars … Continue reading “NuTonomy Switches to Chrysler For More Elbow Room in Self-Driving Cars”
Seattle Startup Funding Tidbits: Blokable, Zenoti, PTO Exchange
Keep up with venture capital funding activity in the Seattle area with recent news from three local startups. The companies—Blokable, Zenoti Software, and PTO Exchange—are developing software and other tech-enabled products for three very different industries: housing, spas, and finance. Read on for details. —Blokable, a Seattle-based startup that designs and manufactures modular housing components … Continue reading “Seattle Startup Funding Tidbits: Blokable, Zenoti, PTO Exchange”
Celgene to Sell Blockbuster Drug to Amgen for $13B to Close BMS Deal
Celgene is selling a blockbuster anti-inflammatory drug to Amgen for $13.4 billion cash, a deal needed to close the company’s pending $74 billion acquisition by Bristol-Myers Squibb. Bristol-Myers (NYSE: [[ticker:BMY]]) is still working to complete the proposed acquisition of Celgene (NASDAQ: [[ticker:CELG]]) that was announced in January. In June, Bristol-Myers said that Celgene drug apremilast … Continue reading “Celgene to Sell Blockbuster Drug to Amgen for $13B to Close BMS Deal”
For GW Pharma CEO Justin Gover, The CBD Trend Started 20 Years Ago
[Corrected 8/27/19, 1:18 p.m. PT. See below.] Remember the simpler times of the mid-2010s, when you could order a latte or cocktail in California without the option of adding CBD? For Justin Gover, CEO of British drugmaker GW Pharmaceuticals (NASDAQ: [[ticker:GWPH]]), society’s sudden embrace of cannabidiol (CBD), the other active ingredient found in the cannabis plant, … Continue reading “For GW Pharma CEO Justin Gover, The CBD Trend Started 20 Years Ago”
New PCSK9 Cholesterol Drug Faces Tough Foe. (Hint: Not Cholesterol.)
[Updated 8/26/19, 10:30am. See below.] Remember when the new wave of expensive cholesterol-lowering drugs—known as PCSK9 inhibitors—was supposed to give the healthcare system a financial heart attack? Far from it. Four years after approval the two PCSK9 blockers on the market have yet to crack $1 billion in annual sales, combined, thanks to a gloves-off … Continue reading “New PCSK9 Cholesterol Drug Faces Tough Foe. (Hint: Not Cholesterol.)”
Why Amazon’s Ascent Spells Bad News for Mall Food Courts
The increasing popularity of Amazon’s annual Prime Day, Cyber Monday, and other online shopping-themed occasions is one of many indicators more Americans are relying on mobile devices and computers, not malls, to shop. It’s no secret the so-called “Amazon effect,” a shift in retail buying patterns toward online shopping and away from brick-and-mortar locations, has … Continue reading “Why Amazon’s Ascent Spells Bad News for Mall Food Courts”
VMware: “We Bought Carbon Black for $2.1B!” Analysts: “Oh… Why?”
The deal VMware unveiled this week to buy cybersecurity firm Carbon Black triggered a heaping share of skepticism. “I’m having a hard time with the Carbon Black acquisition,” said Jeffries analyst John Stephen DiFucci on a conference call with VMware executives. “I get that Carbon Black is part of that next-gen player. … But I … Continue reading “VMware: “We Bought Carbon Black for $2.1B!” Analysts: “Oh… Why?””