An experimental GlaxoSmithKline treatment for multiple myeloma has achieved the main goal of a key study, and the drug maker plans to file for regulatory approval by the end of this year. GlaxoSmithKline (NYSE: [[ticker:GSK]]) said Friday that treatment with its drug, belantamab mafodotin, showed a “clinically meaningful overall response rate” in the study. The … Continue reading “GSK’s Cancer Comeback Continues With Data for Multiple Myeloma Drug”
Category: National
Bio Roundup: Sarepta’s Stumble, Opioid Suits, Shkreli’s Legacy & More
Biotech news tends to slow down in August but the past seven days have been busy for regulatory decisions. Three drugs and two devices won FDA nods. Not all companies were as fortunate. Several biotechs reported failed clinical trials or unfavorable FDA decisions. The most notable one might be the rejection of a Sarepta Therapeutics … Continue reading “Bio Roundup: Sarepta’s Stumble, Opioid Suits, Shkreli’s Legacy & More”
Boston Tech Watch: Epstein, MIT Media Lab, Carbon Black, JRNI & More
A slower news week for Boston technology news, but not without its fireworks. Among them: Researchers are not taking the news well that MIT Media Lab director Joi Ito had extensive financial arrangements with Jeffrey Epstein, the convict and alleged child sex trafficker who committed suicide earlier this month awaiting trial. Read on for more. … Continue reading “Boston Tech Watch: Epstein, MIT Media Lab, Carbon Black, JRNI & More”
New BC Biotech Chinook Reels in $65M to Tackle Kidney Disease
About 15 percent of adults in the US, around 37 million people, are estimated to have chronic kidney disease, according to the Centers for Disease Control. They have very few therapeutic options and often progress to kidney failure, which is treatable only with dialysis or transplant. Chinook Therapeutics is looking to develop new treatments to … Continue reading “New BC Biotech Chinook Reels in $65M to Tackle Kidney Disease”
VMware Dropping $4.8B to Buy Carbon Black, Pivotal Software
VMware is shelling out big bucks for two companies to fill out its technology stack: developer platform Pivotal Software for $2.7 billion and cybersecurity firm Carbon Black for $2.1 billion. “These acquisitions address two critical technology priorities of all businesses today—building modern, enterprise-grade applications and protecting enterprise workloads and clients,” VMware CEO Pat Gelsinger said … Continue reading “VMware Dropping $4.8B to Buy Carbon Black, Pivotal Software”
Retrophin Sinks as Drug “Pharma Bro” Martin Shkreli Co-Invented Fails
[Corrected, 8/23/19, see below] Retrophin, the drug developer founded by jailed former biotech executive Martin Shkreli, has failed its first big test. The San Diego-based company’s experimental drug fosmetpantotenate failed a Phase 3 trial, FORT, in patients with a rare and deadly neurological disorder called pantothenate kinase-associated neurodegeneration, or PKAN. The Retrophin (NASDAQ: [[ticker:RTRX]]) drug … Continue reading “Retrophin Sinks as Drug “Pharma Bro” Martin Shkreli Co-Invented Fails”
Healthcare’s Future is Telemedicine & AI, But Will Everyone Benefit?
John Halamka thinks the digital health industry is still “emerging.” But it has come a long way and is starting to deliver after years of hype. Halamka, a Boston-based physician and healthcare technology expert, says that’s thanks to several coalescing factors: improved technology, more favorable financial incentives for using digital products in healthcare, and growing … Continue reading “Healthcare’s Future is Telemedicine & AI, But Will Everyone Benefit?”
Splunk To Pay $1B For SaaS App Monitoring Firm SignalFx
Splunk, an IT operations management and information security company, announced today it has clinched a deal to buy cloud software application monitoring company SignalFx for $1.05 billion. San Francisco-based Splunk (NASDAQ: [[ticker:SPLK]]) says the acquisition will enable it to give businesses a real-time, panoramic view of the performance of their cloud-based applications, whether their data … Continue reading “Splunk To Pay $1B For SaaS App Monitoring Firm SignalFx”
Ford’s Autonomic Connects EV Maker Ayro to Its Mobility Cloud
Ford subsidiary Autonomic today announced a step forward in its drive to expand the online mobility hub it built to manage digital interactions among cars, drivers, fleets, service providers, and auto manufacturers—including Ford’s rivals. Palo Alto, CA-based Autonomic signed up Ayro, an electric vehicle startup, as a paying customer of its Transportation Mobility Cloud (TMC), … Continue reading “Ford’s Autonomic Connects EV Maker Ayro to Its Mobility Cloud”
Xcelerate at Biotech Week Boston Discount Ticket Sale Ends Friday
If you care about life science and the people and issues driving the future, you will want an Xcelerate pass to this year’s Biotech Week Boston. Hurry, our Super Saver sale ends Friday! The Xcelerate program package provides access to four of the conference’s most popular events, all on Wednesday, Sept. 11: —Keynote Speaker Series: … Continue reading “Xcelerate at Biotech Week Boston Discount Ticket Sale Ends Friday”
Oncorus Adds $79.5M to Steer Cancer-Fighting Virus to Human Testing
Nearly four years ago, the FDA approved a therapy that uses a virus to infect tumor cells and break them down—the first such viral therapy for treating cancer. Oncorus CEO Ted Ashburn says there’s room to improve on these oncolytic viruses and their role in immunotherapy, and his biotech startup is getting ready to show … Continue reading “Oncorus Adds $79.5M to Steer Cancer-Fighting Virus to Human Testing”
Elanco’s $7.6B Deal With Bayer Bolsters Pets, Farm Animals Footprint
Elanco Animal Health, the veterinary sector’s fourth-largest company measured by revenue, is poised to leap to number two through a $7.6 billion cash and stock deal for Bayer’s animal health unit. The acquisition will help Elanco boost its business selling products for farm animals. But Elanco (NYSE: [[ticker:ELAN]]) notes that Bayer, which sells the popular … Continue reading “Elanco’s $7.6B Deal With Bayer Bolsters Pets, Farm Animals Footprint”
Startup Blooma Launches With $2.75M to Digitize Commercial Lending
Many facets of the finance industry, a highly regulated sector of the economy, are still reworking the tools used to move around money so that they fit a digital world. Digital mortgage lenders, for example, are having a field day, pulling in millions from investors who see opportunities to make money by speeding up the … Continue reading “Startup Blooma Launches With $2.75M to Digitize Commercial Lending”
FDA Rejects Sarepta’s Second Duchenne Drug, Citing Safety Concerns
[Updated, 8/20/19, see below] Sarepta Therapeutics won one of the most dramatic and controversial drug approvals in the history of the FDA a few years ago. It didn’t have the same luck the second time around. The FDA late Monday rejected golodirsen (Vyondys 53), which was widely expected to become the second approved Duchenne muscular … Continue reading “FDA Rejects Sarepta’s Second Duchenne Drug, Citing Safety Concerns”
Enterprise Software Startup Ally Nabs $8M to Support Global Growth
Ally, a startup developing software to help businesses chart strategies and track progress toward meeting goals, announced Monday it has raised $8 million from investors to support the Bellevue, WA-based company’s growth. Palo Alto, CA-based Accel led the Series A round, Ally says. Other participating investors included two Seattle-based venture capital firms, Founders’ Co-op and … Continue reading “Enterprise Software Startup Ally Nabs $8M to Support Global Growth”
Pfizer Spinout SpringWorks, Migraine Drug Firm Satsuma Prep IPOs
The dog days of summer are here and IPO activity has slowed, but that hasn’t stopped some biotech companies from securing a place in the line leading to Wall Street. Late Friday, SpringWorks Therapeutics and Satsuma Pharmaceuticals filed paperwork to go public. SpringWorks spun out of Pfizer (NYSE: [[ticker:PFE]]) nearly two years ago, aiming to … Continue reading “Pfizer Spinout SpringWorks, Migraine Drug Firm Satsuma Prep IPOs”
AbbVie’s Successor to Humira Wins FDA OK for Rheumatoid Arthritis
An anti-inflammatory drug that AbbVie has been developing as a successor to adalimumab (Humira), the world’s top-selling drug, won the regulatory OK Friday as a treatment for rheumatoid arthritis (RA). The FDA approved upadacitinib (Rinvoq) for adults with RA whose disease hasn’t responded to other treatments. About 1.3 million people in the US have the … Continue reading “AbbVie’s Successor to Humira Wins FDA OK for Rheumatoid Arthritis”
Bio Roundup: Zolgensma Fallout, Duchenne Redux, Ebola Boost & More
We learned last week that the FDA was investigating Novartis for manipulating animal data related to its $2 million-a-dose gene therapy Zolgensma. The activity took place at AveXis, the firm Novartis bought for $8.7 billion in 2018, and Novartis reportedly knew but failed to report it to the FDA before the agency approved Zolgensma in … Continue reading “Bio Roundup: Zolgensma Fallout, Duchenne Redux, Ebola Boost & More”
Will Porsche Fans Ever Live in a Driverless World? Porsche Says No.
Imagine the transportation future 20 years from now. Here’s one way things could roll on a weekday: Many of us get picked up at home by a sturdy, standardized, driverless car that will also scoop up a few of our neighbors who work at other businesses near ours. Entering the highway, the vehicle automatically links … Continue reading “Will Porsche Fans Ever Live in a Driverless World? Porsche Says No.”
Boston Tech Watch: Buoy Health, Cambridge Crops, Polarity & More
This week, we’re tracking venture capital deals in digital health, augmented reality for the enterprise, wellness, and food tech. Read on for details. —Buoy Health said it snagged $15 million in a Series B funding round led by Hambrecht Ducera Growth Ventures, which was joined in the investment by Humana (NYSE: [[ticker:HUM]]), F-Prime Capital Partners, … Continue reading “Boston Tech Watch: Buoy Health, Cambridge Crops, Polarity & More”
UPS Takes Minority Stake in Self-Driving Truck Startup TuSimple
TuSimple, an autonomous trucking company, has been conducting test drives for UPS between the Arizona cities of Phoenix and Tucson since May. Now the corporate venture arm of the global package delivery giant says it has taken a minority stake in the San Diego startup, which believes its technology can reduce the costs of shipping … Continue reading “UPS Takes Minority Stake in Self-Driving Truck Startup TuSimple”
Motif Unveils New Name and $27.5M to Build Food Ingredients Pipeline
Plant-based meats and milks still use proteins, just not proteins that come from animals. Motif Ingredients has raised $27.5 million to build a pipeline of these animal-free protein ingredients. In addition to the new cash, Motif on Thursday also unveiled a new name: Motif FoodWorks. The Boston company says the name better connects its business … Continue reading “Motif Unveils New Name and $27.5M to Build Food Ingredients Pipeline”
Four New Drugs Are Around the Corner. Here’s What You Need to Know.
[Updated, 3:40 pm ET, see below] The Food and Drug Administration approved 59 new drugs last year, a record for the agency which over the years has swung back and forth between tight control and leniency. We are in the midst of perhaps the agency’s most permissive era ever, thanks to its openness to speed … Continue reading “Four New Drugs Are Around the Corner. Here’s What You Need to Know.”
Qualcomm Taps Former Palo Alto Networks CEO as Board Chairman
Wireless giant Qualcomm has appointed Mark McLaughlin, the former CEO of network security company Palo Alto Networks, as chairman of its board of directors. McLaughlin joined Silicon Valley-based Palo Alto Networks (NYSE: [[ticker:PANW]]) as president and CEO in 2011, ahead of its 2012 IPO. He served as the company’s top executive through June 2018. Prior … Continue reading “Qualcomm Taps Former Palo Alto Networks CEO as Board Chairman”
After Drought, Digital Health’s Summer of IPOs Brings Validation
After a nearly three-year period in which not a single digital health company held an initial public stock offering, the dry spell has ended. In recent weeks, four healthcare software and technology businesses—Change Healthcare, Health Catalyst, Livongo Health, and Phreesia—held IPOs. Taken as a whole, these public market debuts were mostly successful, and could persuade … Continue reading “After Drought, Digital Health’s Summer of IPOs Brings Validation”
Genomics Experts Preview Xconomy’s Aug. 27 Bay Area Biotech Forum
Study of the human genome has yielded new insights into the origins of diseases and the pathways to potentially cure them. Join Xconomy and Biocom the evening of Aug. 27 to hear from leaders in the field for “Turning Genomics Into Better Health,” our life sciences forum at Biocom Bay Area. We’ll explore the hope, … Continue reading “Genomics Experts Preview Xconomy’s Aug. 27 Bay Area Biotech Forum”
Mason Raises $25M to Help Software Firms Deploy, Manage Applications
Amazon Web Services and other businesses that charge customers to host their software applications have become a popular option for tech startups. Part of the reason for the popularity of using AWS and other cloud computing services is because it allows employees at early-stage businesses to focus on their products and customers, rather than server … Continue reading “Mason Raises $25M to Help Software Firms Deploy, Manage Applications”
WI Watchlist: AmFam, Venture Investors, Understory, Gener8tor & More
It’s time to catch up on some recent headlines from Wisconsin’s innovation clusters: —Venture Investors and American Family Ventures are making progress on raising new venture funds. Madison-based Venture Investors has closed on $73.1 million for its latest fund, and it could grow the fund to $100 million, according to an SEC filing. Meanwhile, American … Continue reading “WI Watchlist: AmFam, Venture Investors, Understory, Gener8tor & More”
Chasing Blueprint, Deciphera Plans FDA Filing for GI Cancer Drug
[Updated, 11:04 am ET, see below] Deciphera Pharmaceuticals this morning announced plans to seek FDA approval of a cancer medicine that treats a deadly type of tumor that forms in the gastrointestinal tract. The Deciphera (NASDASQ: [[ticker:DCPH]]) drug, ripretinib, hit its main goal in a Phase 3 trial, INVICTUS, in 129 patients with gastrointestinal stromal … Continue reading “Chasing Blueprint, Deciphera Plans FDA Filing for GI Cancer Drug”
GSK’s US President Bailey to Depart, EMD Serono Exec Named Successor
Jack Bailey, president of US pharmaceuticals for GlaxoSmithKline (NYSE: [[ticker:GSK]]), will step down from the role at the end of the year. The British pharmaceutical giant said Monday that Bailey will be succeeded by Maya Martinez-Davis, regional president of Latin America for EMD Serono, the biopharma business of Germany-based Merck KGaA. Martinez-Davis’s experience also includes … Continue reading “GSK’s US President Bailey to Depart, EMD Serono Exec Named Successor”
San Diego Tech Roundup: Ezoic, Trust & Will, Oska Wellness & More
Summer can be a slow time in San Diego, but its startups have stayed busy. Read on for news of recent financings, plus upcoming opportunities to connect with the local tech community. —Ezoic, a startup that developed software for web publishers that uses machine learning techniques to personalize layouts and ad placements for site visitors, … Continue reading “San Diego Tech Roundup: Ezoic, Trust & Will, Oska Wellness & More”
Bio Roundup: Surprise News, a Gene Therapy Mess & a CAR-T Step
Gene therapy has become one of the hottest fields in biomedicine, with two treatments approved in the US already and several more on the way. But surprise news this week regarding Zolgensma, the recently approved spinal muscular atrophy treatment, cast a cloud over its progress. The FDA revealed that Novartis subsidiary AveXis had “manipulated” data … Continue reading “Bio Roundup: Surprise News, a Gene Therapy Mess & a CAR-T Step”
Boston Tech Watch: Nike, Cybereason, Care.com, LaunchByte & More
Nike goes shopping in Boston. Cybereason tracks down another big investment. Care.com makes a change at the top. A purported venture capitalist gets arrested for alleged fraud. Read on for these stories and more of the biggest developments in Boston tech this week. —Nike (NYSE: [[ticker:NKE]]) acquired Boston-based retail technology firm Celect for an undisclosed … Continue reading “Boston Tech Watch: Nike, Cybereason, Care.com, LaunchByte & More”
Glow Snags $2.3M to Help Podcasters Connect to Listeners, Make Money
Amira Valliani decided to launch a podcast-focused startup after listening to a podcast that is, fittingly enough, named StartUp. Valliani is the co-founder and CEO of Glow.fm, an early-stage company based in Seattle that recently raised $2.3 million in seed funding to continue building its service for supporting podcasters. Glow’s story traces back to 2015, … Continue reading “Glow Snags $2.3M to Help Podcasters Connect to Listeners, Make Money”
Bayer Buys Out BlueRock, Betting at Least $240M More on Cell Therapy Work
Versant Ventures and Bayer have started several biotechs together. But today marks the first time the German drug maker takes a step further and buys one of them: cell therapy developer BlueRock Therapeutics. Bayer already owns a 40.8 percent stake in BlueRock through its Leaps by Bayer venture arm. But it will pay $240 million … Continue reading “Bayer Buys Out BlueRock, Betting at Least $240M More on Cell Therapy Work”
Organovo Halts Liver Tissue R&D, Plans Restructuring to Cut Costs
[Updated 2:33 p.m. Aug. 8. See below.] Organovo says it has run out of money to advance its efforts to develop 3-D “patches” of living human liver tissue to tide over people waiting for an organ transplant. The San Diego-based biotech has been working since 2007 to use a method known as bio-printing to come … Continue reading “Organovo Halts Liver Tissue R&D, Plans Restructuring to Cut Costs”
Rhythm Pharma’s Obesity Drug Hits Phase 3 Goals, FDA Filing Planned
A Rhythm Pharmaceuticals drug developed to reduce the weight gain and ravenous hunger in genetic obesity disorders has hit the goals of two late-stage clinical trials, and the company now plans to file for FDA approvals late this year or in early 2020. On Wednesday, Rhythm (NASDAQ: [[ticker:RYTM]]) announced preliminary Phase 3 data for its … Continue reading “Rhythm Pharma’s Obesity Drug Hits Phase 3 Goals, FDA Filing Planned”
AIQ Solutions Hits On $3.2M to Pinpoint Drug-Resistant Tumors
Many companies developing artificial intelligence software for healthcare are trying to improve doctors’ ability to diagnose disease. Fewer emerging healthcare AI businesses are focused on what happens after a diagnosis, aiming to figure out how treatments are working. One of them, AIQ Solutions, has developed software that analyzes medical imaging data to identify all of … Continue reading “AIQ Solutions Hits On $3.2M to Pinpoint Drug-Resistant Tumors”
SDSI Accelerator For Sports Startups Gets Qualcomm Foundation Boost
Entrepreneurs who are accepted into the next 20-week accelerator program run by SD Sports Innovators will get the opportunity to learn from senior Qualcomm employees as they work to better their businesses. SDSI, a nonprofit organization based north of San Diego in coastal Solana Beach, focuses on advancing companies that involve sports, active lifestyles, health, … Continue reading “SDSI Accelerator For Sports Startups Gets Qualcomm Foundation Boost”
Turning Genomics Into Better Health on Aug. 27: Early Bird Rate Ends Soon
Grab your ticket to attend Xconomy and Biocom’s summer biotech event in San Francisco, Turning Genomics Into Better Health. Leaders in the industry will discuss the progress made in reading genome sequences and turning that knowledge into opportunities to better understand and treat disease. Join us on Aug. 27 at Biocom’s South San Francisco office … Continue reading “Turning Genomics Into Better Health on Aug. 27: Early Bird Rate Ends Soon”
Women’s Health-Focused Luca Bio Takes Microbiome R&D Beyond the Gut
Urinary tract infections are among the most common bacterial infections in the United States, but treatment options are shrinking as resistance to antibiotics commonly prescribed to treat the condition continues to rise. Luca Biologics, a new Cambridge, MA-based biotech focused on women’s health, emerged Tuesday with a plan to advance an investigational UTI drug into … Continue reading “Women’s Health-Focused Luca Bio Takes Microbiome R&D Beyond the Gut”
FDA: Despite “Manipulated” Data, $2M Gene Therapy Should Stay on Market
[Updated, 7:12 pm ET, see below] The FDA on Tuesday said that some data supporting the spinal muscular atrophy gene therapy Zolgensma was “manipulated” before its May 24 approval and that its manufacturer, Novartis (NYSE: [[ticker:NVS]]) subsidiary AveXis, knew about it. The FDA stopped short of saying Zolgensma should be pulled from the market, but … Continue reading “FDA: Despite “Manipulated” Data, $2M Gene Therapy Should Stay on Market”
Seattle Startup Remarkably Gets $4.1M to Market Real Estate Software
Remarkably, a Seattle-based startup that provides users with real estate marketing software and analytics services, announced Tuesday it has raised $4.1 million in seed funding. The company markets its software products to developers, owners, and managers of residential buildings with multiple apartments or condominiums, which are sometimes called “multi-family” dwellings. Remarkably’s digital tools are designed … Continue reading “Seattle Startup Remarkably Gets $4.1M to Market Real Estate Software”
Inari Reaps $89M and Eyes Global Farm Markets for Gene-Edited Seeds
Plant genetics startup Inari, which is developing crop varieties that produce higher yields and use fewer resources, has raised $89 million to advance its research toward the US and international markets. Corn, soybean, wheat, and tomatoes are the Cambridge, MA-based company’s initial target crops. CEO Ponsi Trivisvavet says the company aims to launch several products … Continue reading “Inari Reaps $89M and Eyes Global Farm Markets for Gene-Edited Seeds”
SoftBank Commits $200M to Cybereason, Cybersecurity’s Newest Unicorn
Software has become arguably the most effective weapon for criminals and nation states. In response, security technology businesses are pulling in huge investments to enhance their arsenal to try and stop cyber adversaries. Cybereason, one of the cybersecurity industry’s biggest bets, announced today that it’s raising up to $200 million in equity funding from the … Continue reading “SoftBank Commits $200M to Cybereason, Cybersecurity’s Newest Unicorn”
Another Delay for Intra-Cellular as FDA Extends Review of Psych Drug
[Updated 1:33 p.m.] Intra-Cellular Therapies will have to wait another three months to see whether the FDA will approve its experimental drug for schizophrenia, which has produced mixed results in human studies but is currently under a regulatory review. The New York company said Monday that the FDA has pushed back the deadline for its … Continue reading “Another Delay for Intra-Cellular as FDA Extends Review of Psych Drug”
Digital Health Gets Real: Hear From Pear, Nuance & More at X·CON
At times in recent years, it seemed like digital technologies would never live up to the hype in healthcare. In many cases, they still haven’t. But some have turned a corner and are starting to have a real impact. Devices with health-minded features, such as home-monitoring systems and smart watches, are helping patients and doctors … Continue reading “Digital Health Gets Real: Hear From Pear, Nuance & More at X·CON”
GlycoMimetics Sickle Cell Drug Flops as Others Creep Forward
New treatments could soon be on the way for sickle cell disease, an inherited and debilitating blood disorder. But a drug from GlycoMimetics won’t be among them. GlycoMimetics (NASDAQ: [[ticker:GLYC]]) had been aiming to show that a drug called rivipansel could help sickle cell patients who are hospitalized with severe pain episodes, or “crises.” The … Continue reading “GlycoMimetics Sickle Cell Drug Flops as Others Creep Forward”
Acadia, Neurocrine See Stock Price Bump After Quarterly Earnings
We’re in the midst of earnings season, and a couple of San Diego’s publicly traded biotechs recently updated investors this week with sales data and other financial insights. Here’s a look at those companies. —Acadia Pharmaceuticals faced a setback in July with the failure of a late-stage trial that was testing pimavanserin—which the company’s sells … Continue reading “Acadia, Neurocrine See Stock Price Bump After Quarterly Earnings”
Bio Roundup: Pfizer’s Future, CRISPR in Patients, Drug Imports & More
[Corrected 12:55 p.m. ET. See below.] Acquisitions made Pfizer what it is today: the world’s biggest drug maker measured by revenue. But as the company maps its future, CEO Albert Bourla is breaking some of that legacy apart. Blockbuster drugs such as Viagra, which was discovered in-house, and Lipitor, which came via acquisition, are currently … Continue reading “Bio Roundup: Pfizer’s Future, CRISPR in Patients, Drug Imports & More”