Amicus Therapeutics (NASDAQ: [[ticker:FOLD]]) waited until late afternoon on Wednesday to announce that its lead drug, a treatment for rare Fabry disease, failed to meet its end point in a pivotal Phase III clinical trial, but that didn’t lessen the investor freakout. The Cranbury, NJ-based company’s stock dropped 50.65 percent in after hours trading, to $2.85. … Continue reading “Amicus-GlaxoSmithkline Drug for Fabry Disease Fails Clinical Trial”
Category: National
Can (Should?) A Young Biotech Company Still Go Long?
It used to be that every young biotech company’s goal was to “go long,” to become a FIPCO (fully integrated pharmaceutical company…remember when that phrase was in vogue?), selling its own product and running a sustainable business. These days, that’s rarely in anyone’s business plan. And yet at the same time, I’ve heard public market … Continue reading “Can (Should?) A Young Biotech Company Still Go Long?”
Xconomist of the Week: Alexis Borisy Still Likes Early Stage Biotechs
The trending topic among biotech people and the people who fund them these days is that it is almost impossible to scrounge up financing for startups in the earliest stages of drug development. As Xconomy’s Luke Timmermanwrote in July, the amount of money invested in first-round biotech financings fell by 60 percent in the first … Continue reading “Xconomist of the Week: Alexis Borisy Still Likes Early Stage Biotechs”
Ultragenyx, Led by BioMarin Vet, Snags $75M for Ultra-Rare Diseases
Some of the biggest investment checks in biotech are going to startups focused on treating extremely tiny groups of patients. You can see the story playing out at a little company in Novato, CA, called Ultragenyx Pharmaceutical. The company, founded by former BioMarin Pharmaceuticals executive Emil Kakkis in April 2010, is announcing today it has … Continue reading “Ultragenyx, Led by BioMarin Vet, Snags $75M for Ultra-Rare Diseases”
With New SD Factory, Soitec Joins Top 3 U.S. Solar Panel Makers
In his first official proclamation, newly elected San Diego Mayor Bob Filner declared today as “Soitec Day” in the nation’s eighth largest city, capping a grand opening ceremony for a new solar panel factory completed here recently by Soitec, the French semiconductor manufacturer. The automated plant was designed to make concentrating photovoltatic (CPV) solar panels … Continue reading “With New SD Factory, Soitec Joins Top 3 U.S. Solar Panel Makers”
Domain-Rusnano Partnership Invests $93 Million in Three Biotechs
Last March, life sciences venture firm Domain Associates and Russia’s state-owned Rusnano announced that they will jointly invest as much as $760 million in biotech. Today the partnership announced it is putting $93 million of that money into three Domain portfolio companies, bringing to four the number of deals they’ve done so far. Marinus Pharmaceuticals of … Continue reading “Domain-Rusnano Partnership Invests $93 Million in Three Biotechs”
UW Spinoff PhysioSonics Gets FDA OK For Monitoring Brain Blood Flow
PhysioSonics, the Bellevue, WA-based developer of ultrasound for automated monitoring of stroke symptoms, is graduating from R&D mode and moving into the commercial world. The company has won clearance from the FDA to start selling its Presto 1000 Flow Monitor system in the U.S., according to CEO Brad Harlow. The company has also raised a … Continue reading “UW Spinoff PhysioSonics Gets FDA OK For Monitoring Brain Blood Flow”
Fred Wilson Calls Out Enterprise Tech Incumbents, Sees Room for NY Startups
When Fred Wilson, managing partner with Union Square Ventures, prefaces a statement as potentially controversial, most people in the room tend to lean forward for a listen. Last night’s New York Enterprise Technology Meetup was no exception. Wilson, an early backer of Twitter and current investor in Return Path and MongoDB’s developer 10gen, spoke to the … Continue reading “Fred Wilson Calls Out Enterprise Tech Incumbents, Sees Room for NY Startups”
Oncothyreon Cancer Drug Fails in Final Trial; Shares Tank
Despite all the advances of modern medicine, pharmaceutical companies still sometimes take a drug all the way to the third and final phase of clinical trials before finding out it’s a failure. It’s a massive waste of time and money, and it happened today to Germany-based Merck KGaA, which was testing a cancer immunotherapy licensed … Continue reading “Oncothyreon Cancer Drug Fails in Final Trial; Shares Tank”
Five Tips for Building a Successful Relationship with the FDA
I recently led an initiative to communicate more proactively and frequently with the leaders of the FDA about issues specifically related to improving the agency’s focus on innovative biomedical and therapeutic technologies. At San Diego’s Biocom, where I am CEO, we believe that both industry and regulators can benefit from an atmosphere of open communication … Continue reading “Five Tips for Building a Successful Relationship with the FDA”
Geron Pinning Hopes On Single Drug Platform
In a way, John “Chip” Scarlett’s job since he became CEO of Geron last year has been to resist the allure of science. Starting in the 1990’s, Geron (NASDAQ: [[ticker:GERN]]) had nurtured seminal work on human embryonic stem cells. When Scarlett took over in September 2011, the Menlo Park company had begun the world’s first … Continue reading “Geron Pinning Hopes On Single Drug Platform”
Roundup: Madrona Invests in LUMO; news from Glympse, Carena, Sandglaz
As the year wanes, Seattle investors and companies are still closing some interesting deals. Here are a few highlights from recent days: —Madrona Venture Group, continuing its busy fourth quarter, is making its first investment in a consumer hardware company. The Seattle firm is leading a $5 million Series A investment in LUMO BodyTech, a … Continue reading “Roundup: Madrona Invests in LUMO; news from Glympse, Carena, Sandglaz”
Promedior Joins Ranks of Woman-Helmed Biotechs in Massachusetts
It seems counterintuitive, given that only a handful of life sciences companies of any size have women at the helm, but the biotech startup world is a relatively good place to be a woman. A 2006 survey of New England biotech firms found that 21 percent were founded by women. By comparison, a nationwide study … Continue reading “Promedior Joins Ranks of Woman-Helmed Biotechs in Massachusetts”
Boston News Roundup: Amazon, Akamai, Blend, MC10, & More
There have been plenty of updates from companies big and small across the Boston-area innovation scene in the past week or so. Here’s a rundown of the biggest and best stories for a midweek catch-up: —With news of a sales-tax deal between Amazon and Massachusetts Gov. Deval Patrick, the Seattle-based cloud and e-commerce titan said … Continue reading “Boston News Roundup: Amazon, Akamai, Blend, MC10, & More”
The Cloud in Healthcare Post-Election
At the Dec. 10 Xconomy forum on Healthcare in Transition, I participated in a panel discussion on post-election themes in the business of healthcare from the perspective of a cloud-based healthcare IT company. There was, naturally, difference of opinions among the group on government’s role in facilitating healthcare IT innovation, but there was also some … Continue reading “The Cloud in Healthcare Post-Election”
Directr and NEVCA Team Up on Boston Startup Holiday Videos
Coffee, computers, and young people working long hours. Maybe a little ping-pong or foosball for stress relief. You’ve seen one startup, you’ve seen them all. And maybe that’s the point. You’d be hard-pressed to tell this group of Boston-area startups, captured on video, apart from their peers in Silicon Valley—or any other entrepreneurial hub—except for … Continue reading “Directr and NEVCA Team Up on Boston Startup Holiday Videos”
Bump Brings Flock Photo-Sharing App to Android
David Lieb thinks there’s a big transition under way in the world of consumer information technology, and he wants his company, Bump Technologies, to be there waiting on the other side. The Mountain View startup’s specialty is helping smartphone owners get photos, address book entries, and other digital information off their phones and onto other … Continue reading “Bump Brings Flock Photo-Sharing App to Android”
Roambi Sees 2013 as Pivotal Year for Data Analytics, Visualization
We all know the tide of “big data” has been rising, and there is no shortage of companies applying analytics and data visualization tools to help business leaders and other people make better decisions. Nevertheless, the Roambi mobile visualization technology that Solana Beach, CA-based Mellmo has developed for Apple iOS stands apart in terms of … Continue reading “Roambi Sees 2013 as Pivotal Year for Data Analytics, Visualization”
NextEnergy, MEDC Launch Michigan Accelerating Technologies Grant
On Dec. 1, the Detroit-based nonprofit NextEnergy launched the new Michigan Accelerating Technologies Energy Grant (MATch) program, a three-year initiative funded by the Michigan Economic Development Corporation. It’s the latest tool in the state’s arsenal to help Michigan companies in the advanced energy sector compete for federal research and development dollars. A similar effort directed … Continue reading “NextEnergy, MEDC Launch Michigan Accelerating Technologies Grant”
Water Mission to Israel (Day 2): Water Management Solutions at Scale
Monday in Israel started out quickly with the Massachusetts Water Delegation taking part in a global water market networking event with the CleanIsrael Meetup Group. CleanIsrael is a pan-Israel cleantech business network with over 1,000 members and is akin to the Clean Economy Network (now part of the Advanced Energy Economy). After charging up with … Continue reading “Water Mission to Israel (Day 2): Water Management Solutions at Scale”
Sutro Strikes Celgene Deal Worth Up to $500M
South San Francisco-based Sutro Biopharma thinks it has a way to make biotech drugs that’s faster and better than the traditional method that incubates the molecules inside living cells. And today it got a big vote of confidence from one of biotech’s big players, Celgene (NASDAQ: [[ticker:CELG]]). Sutro said today it struck a broad agreement … Continue reading “Sutro Strikes Celgene Deal Worth Up to $500M”
Avaxia Gets $6.4 Million More for Anti-TNF Oral Drug Trial
Avaxia Biologics, a Lexington, MA-based startup that is developing an oral version of popular anti-tumor necrosis (TNF) factor drugs, said today that it has raised $6.4 million in Series B financing. Avaxia will use the funds to finance the first clinical trial of AVX-470, an anti-TNF antibody designed to suppress inflammation in the gastrointestinal tract, … Continue reading “Avaxia Gets $6.4 Million More for Anti-TNF Oral Drug Trial”
Habib Kairouz Talks Totsy, Flash Sales, and Expectations for E-commerce
While some critics grumble about the future of e-commerce, Habib Kairouz sees prospects for prudent growth for companies that change with consumers’ tastes. Kairouz, a managing partner with Rho Capital Partners and Rho Ventures in New York, backs Totsy, a New York-based e-commerce site for deals and flash sales on wares for infants and parents, … Continue reading “Habib Kairouz Talks Totsy, Flash Sales, and Expectations for E-commerce”
Blend Therapeutics Raises $16 Million to Fund Cancer Drug Development
Just a month shy of its first birthday, Blend Therapeutics of Watertown, MA, says it has secured $16 million in Series B financing. It plans to use the money in part to finance its development of cancer treatments based on a new generation of platinum-based drugs. NanoDimension led the round with participation from existing investors Flagship … Continue reading “Blend Therapeutics Raises $16 Million to Fund Cancer Drug Development”
Hope in Detroit: An Outsider on Motown’s Entrepreneurial Renaissance
Long written off by many, Detroit is becoming an interesting city to watch from an urban revitalization perspective. At the core of these developments is the emergence of a startup ecosystem where (for the most part) one did not previously exist. While still early, the progress made in this area over the last several years … Continue reading “Hope in Detroit: An Outsider on Motown’s Entrepreneurial Renaissance”
CEO Angus Davis Ramps Up Swipely, Takes On Payment & Marketing Industries
Hello, Rhode Island. For the smallest state in the Union, you have a disproportionate share of interesting companies and entrepreneurs. One of them is Swipely, led by founder and CEO Angus Davis. The Providence, RI-based startup is releasing new software today that helps local restaurants and stores understand and manage customer relationships, as well as … Continue reading “CEO Angus Davis Ramps Up Swipely, Takes On Payment & Marketing Industries”
Mobile Madness Northwest: The Photos
It was great to see so many familiar faces—and so many new ones—at this year’s installment of Mobile Madness Northwest. It was Xconomy’s second year bringing its premier conference about all things mobile to the Northwest, and we really enjoyed getting to hear from so many leaders in the region and beyond. From our great … Continue reading “Mobile Madness Northwest: The Photos”
Enzon, under Pressure from Carl Icahn, Seeks Buyer
It looks like investor Carl Icahn may be having his way with Enzon Pharmaceuticals (NASDAQ: [[ticker:ENZN]]). The Piscataway, NJ, company announced today that it is seeking a buyer for some or all of the company, 19 days after Icahn signaled he wanted to talk to the biotech about its operations. Icahn, whose investment firm owns … Continue reading “Enzon, under Pressure from Carl Icahn, Seeks Buyer”
Detroit’s LevelEleven Launches LeaderTV
When LevelEleven launched in late October, CEO Bob Marsh said the company planned to incorporate client feedback and build on his company’s enterprise gamification software. The Detroit-based startup today announced it has done just that, creating something called LeaderTV. LevelEleven had been working on the idea for months based on feedback from clients and prospective customers, … Continue reading “Detroit’s LevelEleven Launches LeaderTV”
Akamai Co-Founder Leighton Takes Over as CEO
More of the same. That’s apparently the recipe for Akamai Technologies, the Cambridge, MA-based Internet traffic and services company that has been searching for a new CEO. Akamai (NASDAQ: [[ticker:AKAM]]) announced today that co-founder Tom Leighton, formerly the company’s chief scientist, will take the reins as chief executive in January. Previous CEO Paul Sagan announced in … Continue reading “Akamai Co-Founder Leighton Takes Over as CEO”
Sprint (Finally) Buys Clearwire for $2.2B
Clearwire and Sprint have been attached at the hip for years, but that doesn’t mean it’s been a lovefest. Today, we’re seeing the final chapter in that up-and-down relationship, as Sprint has agreed to pay some $2.2 billion to buy out Clearwire’s other shareholders and take the wireless network wholesaler off the market. The deal, … Continue reading “Sprint (Finally) Buys Clearwire for $2.2B”
After Strikeout, San Diego’s MEI Pharma Looks to Rebuild Confidence
Sometimes, innovation companies operate in stealth mode to keep the technology they’re developing out of the limelight. And sometimes, companies maintain a low profile until they’re ready to present their best case to shareholders, potential investors, and others. Such is the case with San Diego’s MEI Pharma (Nasdaq: [[ticker:MEIP]]), a cancer drug development company originally … Continue reading “After Strikeout, San Diego’s MEI Pharma Looks to Rebuild Confidence”
Guitar Hero Creator Wants to Put Mobile Games on the Big Screen
Next year, when you’re gathering your friends or family around the big-screen TV for some video game action, it may not be a PlayStation 4, an Xbox 720, or a Wii U powering the experience. It might the Android phone in your pocket. That’s the vision behind Green Throttle Games, the Santa Clara, CA-based startup … Continue reading “Guitar Hero Creator Wants to Put Mobile Games on the Big Screen”
Water Mission to Israel (Day 1): The Past and Present of the Israeli Water Story
I did say it was going to be a packed schedule, so here I am sitting down at 1am in Tel Aviv sharing the highlights of Day 1 of the Massachusetts-Israel Water Mission. The first 24 hours have been filled with a whirlwind of history, sights, and sounds, spending time with fellow delegates and lots … Continue reading “Water Mission to Israel (Day 1): The Past and Present of the Israeli Water Story”
MC10 Banks $10M, Wends Its Way Into Digital Health, Consumer Tech
You know all those incremental, also-ran tech startups going after the same opportunities in social media, mobile apps, or what have you? This is not one of them. MC10, based in Cambridge, MA, is trying to commercialize some very big ideas around so-called “conformal electronics” that can bend and stretch around surfaces such as the … Continue reading “MC10 Banks $10M, Wends Its Way Into Digital Health, Consumer Tech”
The 5 Myths of Big Data Analytics
Everyone wants a glimpse into the future; the insights and information found there would be inherently lucrative for the individual (or business) that possessed them. And, while soothsayers haven’t yet proven themselves to be a reliable business asset, today’s predictive analytics software has. “Predictive analytics,” in whole, is data analysis that provides enterprises with predictions … Continue reading “The 5 Myths of Big Data Analytics”
2012: The Year When Genomic Medicine Started Paying Off
Remember a couple of years ago when people commemorated the 10-year anniversary of the first draft human genome sequencing? The storyline then, in 2010, was that we all went off to genome camp and only came home with a lousy T-shirt. Society, we were told, invested huge scientific resources in deciphering the code of life, … Continue reading “2012: The Year When Genomic Medicine Started Paying Off”
Water Mission to Israel: Heading Over
It always plays out this way—a kernel of an idea starts the ball rolling, followed by months of increasingly refined planning, a flurry of activity in the endgame, and then it’s GO time. I recall this operating rhythm well from my military days, and it’s been the same over the past dozen-plus years working with … Continue reading “Water Mission to Israel: Heading Over”
Amazon’s Huge Appetite for Workers to Take a Bite Out of Boston
When Amazon.com purchased Kiva Systems this spring, a lot of people wondered whether the deal might signal an even bigger commitment to the tech scene in Massachusetts. As of this week, we can say the answer is yes. But it came in kind of a roundabout way. On Tuesday, Gov. Deval Patrick and Amazon announced … Continue reading “Amazon’s Huge Appetite for Workers to Take a Bite Out of Boston”
FDA Approves Ariad Leukemia Drug Three Months Ahead of Schedule
In a surprising move, the Food & Drug Administration today approved Ariad Pharmaceutical’s (NASDAQ: [[ticker:ARIA]]) ponatinib (Iclusig), a drug for two rare forms of leukemia, three months ahead of schedule. The drug is a tyrosine kinase inhibitor, meant as a successor to drugs like Bristol-Myers’ dasatinib (Sprycel), which reached the market six years ago. The FDA approved … Continue reading “FDA Approves Ariad Leukemia Drug Three Months Ahead of Schedule”
NW Energy Angels Eye Record Year With Investment in Ethical Electric
The Northwest Energy Angels are closing 2012 with a bang, leading a $2.4 million investment in Ethical Electric, a startup clean energy retailer. It’s a deal that exemplifies some trends for the longest-tenured cleantech angel group in the country, which touted a record year at its annual holiday showcase Thursday night in Seattle. Updates from … Continue reading “NW Energy Angels Eye Record Year With Investment in Ethical Electric”
Aastrom Names New Interim CEO, Mayleben To Remain Active in Fundraising
Ann Arbor, MI-based biotech startup Aastrom Biosciences (Nasdaq: ASTM) announced this week that president and CEO Tim Mayleben has retired and a new interim CEO, Dan Orlando, has been named by Aastrom’s board. Orlando was hired at Aastrom in August to be the company’s chief commercial officer, and Mayleben says his experience getting products to … Continue reading “Aastrom Names New Interim CEO, Mayleben To Remain Active in Fundraising”
San Diego Life Sciences Roundup: Acadia, Zogenix, Isis, & More
It was a big week for news from San Diego’s public life sciences companies. We have all the deals, dollars, and developments wrapped up here. —San Diego’s Acadia Pharmaceuticals (Nasdaq: [[ticker:ACAD]]) said it’s raising $86.4 million through a private stock placement that is expected to close Monday. As Xconomy recently reported, Acadia reported encouraging results … Continue reading “San Diego Life Sciences Roundup: Acadia, Zogenix, Isis, & More”
Outbrain Snaps Up Scribit Adding Curated Content to Bag of Tricks
New York-based online content recommendation company Outbrain is busy sharpening its tools once again as competition mounts in its sector. Earlier this week Outbrain announced it acquired Scribit, an Atlanta-based developer of a platform for curating online content. This is the latest deal for Outbrain, which back in February 2011 acquired the technology and assets … Continue reading “Outbrain Snaps Up Scribit Adding Curated Content to Bag of Tricks”
Developing a 21st Century Entrepreneurship Curriculum
In 2012, in partnership with Stanford University, U.C. Berkeley and NCIIA, Jerry Engel and I first offered the Lean LaunchPad Educators Class. The class was designed to teach educators (and the entrepreneurs that support them) the Lean LaunchPad approach (Business Model Design, Customer Development and Agile Engineering) for teaching entrepreneurship. In addition the class offers … Continue reading “Developing a 21st Century Entrepreneurship Curriculum”
Sarepta Announces Price of $125 Million Stock Offering
Sarepta Therapeutics (NASDAQ: [[ticker:SRPT]]), based in Cambridge, MA, said it is planning a $125 million public stock offering, and on Thursday priced an aggregate of 4,950,485 shares at $25.25 each. It expects the offering to close by Dec. 18. Sarepta, which is developing a treatment for Duchenne muscular dystrophy, said it also granted the underwriters a … Continue reading “Sarepta Announces Price of $125 Million Stock Offering”
Give Your Online Life a Lift with IFTTT
How many times have you come across a new technology or service and said to yourself, “That’s ridiculous, only a real geek would use that!”, only to find yourself happily benefiting from the same innovation a year or two later? Well, can you say “the Web” or “text messaging” or “Facebook photo albums” or “RSS … Continue reading “Give Your Online Life a Lift with IFTTT”
Build It In The Back Yard: Why We Need American Manufacturing
[Editor’s Note: This post was co-authored by Brian Patrick Quinn, Patrick Connelly, Patricia Hurter, John Condon, Peter Mueller & Joshua Boger of Vertex Pharmaceuticals.] American companies, in recent years, have developed a massive appetite for foreign labor. The shirt you’re wearing, the cell phone you’re using, and even the medicine you’re taking might have been … Continue reading “Build It In The Back Yard: Why We Need American Manufacturing”
East Coast Life Sciences Roundup: Ariad, Celgene, Amgen, More
—The last of the year’s major medical conferences, the American Society of Hematology annual meeting in Atlanta, was held this week (Dec. 8-11), and several biotechs reported promising clinical data results. Ariad Pharmaceuticals (NASDAQ: [[ticker:ARIA]]), in Cambridge, MA, said on Monday that 56 percent of 444 chronic myeloid leukemia patients treated with its drug ponatinib, all … Continue reading “East Coast Life Sciences Roundup: Ariad, Celgene, Amgen, More”
Initiative Opens Plug and Play Startup Camp, and $25K, to SD Startups
Silicon Valley’s Plug and Play Tech Center has opened its Startup Camp program to San Diego-based seed-stage companies under a new initiative organized by StartupCircle and Alex Roudi, a San Diego real estate investor. San Diego companies that qualify for the Startup Camp program also would be eligible for $25,000 in startup funding, according to … Continue reading “Initiative Opens Plug and Play Startup Camp, and $25K, to SD Startups”