For the second time in three years, Amgen is turning to a smaller biotech to continue clinical development of an experimental celiac disease drug that was developed in its labs. Under a deal announced Monday, Provention Bio (NASDAQ: [[ticker:PRVB]]) will license the Amgen (NASDAQ: [[ticker:AMGN]]) drug, AMG714, and test it in a mid-stage study. Amgen … Continue reading “Amgen Picks Provention to Continue Development of Celiac Disease Drug”
Category: New York
Broadcom to Sell Veracode for $950M After $19B CA Technologies Deal
Broadcom is selling application security testing business Veracode for $950 million to private equity firm Thoma Bravo. Broadcom gained Veracode as a part of its blockbuster acquisition of CA Technologies. Broadcom (NASDAQ: [[ticker:AVGO]]) announced in June it would acquire CA Technologies (NASDAQ: [[ticker:CA]]) for $18.9 billion, and announced today it has completed that deal. New … Continue reading “Broadcom to Sell Veracode for $950M After $19B CA Technologies Deal”
MEI Pharma Inks Cancer Drug Deal with Japan’s Kyowa Hakko Kirin
The second-most advanced investigational drug in MEI Pharma’s four-asset portfolio is drawing attention from overseas as a potential treatment for several leukemias and lymphomas. Japanese life sciences company Kyowa Hakko Kirin has agreed to pay the San Diego company $10 million upfront for rights to develop and commercialize ME-401 in Japan. The Japanese company will … Continue reading “MEI Pharma Inks Cancer Drug Deal with Japan’s Kyowa Hakko Kirin”
Win $2 Million to Solve Alzheimer’s: New Prize Will Reward Fresh Ideas
San Antonio — A Texas billionaire is funding a new competition that will give $4 million to seven individuals who present promising ideas about the cause of Alzheimer’s disease and say they’ll work to prove it. Called the Oskar Fischer Project, the program will give the grand prize winner $2 million of the total, while two … Continue reading “Win $2 Million to Solve Alzheimer’s: New Prize Will Reward Fresh Ideas”
Bio Roundup: Depression Drug Dashed, Peek at ASH, CRISPR Worry & More
The gene-editing technology CRISPR-Cas9 is opening up new research avenues all the time, such as giving drug developers a cheaper, faster way to knock out genes in tumor cells. Studies of CRISPR-Cas9 to treat human disease are about to start, too. But will our immune systems, already on alert for common infections by the bacteria … Continue reading “Bio Roundup: Depression Drug Dashed, Peek at ASH, CRISPR Worry & More”
Cloud Leaders Shrug at IBM’s $34B Red Hat Deal
In some ways, the biggest software acquisition of all time could be a yawner. IBM’s planned $34 billion deal to acquire open-source software maker Red Hat is a hefty price to pay to give its cloud computing business a shot in the arm. But even if the purchase ultimately boosts IBM’s bottom line, some cloud … Continue reading “Cloud Leaders Shrug at IBM’s $34B Red Hat Deal”
IRobot’s Roombas to Map Households for Google Smart Homes
Autonomous vehicle developers rely heavily on navigational technology that maps the complex terrain of roads, curbs, signs, and people that their cars have to thread through. Google, as it develops its smart home systems, is turning to a company that already knows how to navigate the terrain of a household—corridors, kitchens, cat beds, cast-off shoes, … Continue reading “IRobot’s Roombas to Map Households for Google Smart Homes”
Orchard, Fueled by GSK’s Ex-Gene Therapy Biz, Nets $200M in IPO
GlaxoSmithKline’s former gene therapy portfolio is at the center of a $200 million IPO, among the larger biopharma offerings on Wall Street over the last several years. Orchard Therapeutics, a London, Boston, and San Francisco-based biotech, sold 14,285,715 shares in its IPO late Tuesday at $14 apiece, raising just over $200 million before discounts due … Continue reading “Orchard, Fueled by GSK’s Ex-Gene Therapy Biz, Nets $200M in IPO”
Facebook’s 3Q Growth Suffices to Stave Off Another Stock Dive
Facebook (NASDAQ: [[ticker:FB]]) shares gained nearly 3 percent Tuesday, and ticked up further in after-hours trading following the release of a third quarter earnings report that showed some strengths as well as shortfalls. Investors have been concerned about the social media giant’s slowing growth rate in a year when it has been under scrutiny for … Continue reading “Facebook’s 3Q Growth Suffices to Stave Off Another Stock Dive”
Former Celgene Exec Goncalves Joins Cara as Chief Medical Officer
Joana Goncalves has been named chief medical officer of Cara Therapeutics (NASDAQ: [[ticker:CARA]]). She comes to the Stamford, CT, company from Celgene (NASDAQ: [[ticker:CELG]]), where she was vice president, medical affairs for dermatology and neurology. Cara’s lead drug candidate, difelikefalin (Korsuva), is in late-stage testing as a treatment for chronic itching associated with chronic kidney … Continue reading “Former Celgene Exec Goncalves Joins Cara as Chief Medical Officer”
Stantt CEO Thinks Its Approach to Selling Men’s Wear Fits Just Right
Stantt wants to make standard sizing anything but. “Traditional sizing only fits 15 percent of guys,” says Matt Hornbuckle, the startup’s founder and co-CEO. “Twins come in and get different sizes.” To connect guys with a shirt that fits well, the men’s wear startup created a database of “tens of thousands” of body scans. That … Continue reading “Stantt CEO Thinks Its Approach to Selling Men’s Wear Fits Just Right”
No Pipeline Problem: Backstage Capital’s Detroit Plans Spark Excitement
In September, Backstage Capital, a venture investment firm seeding early-stage startups led by women, people of color, and members of the LGBTQ community, launched a $36 million fund to help support black women founders. At the same time, managing partner Arlan Hamilton said the Los Angeles-based firm would run accelerators in four cities: London, Philadelphia, … Continue reading “No Pipeline Problem: Backstage Capital’s Detroit Plans Spark Excitement”
IBM Buying Red Hat in $34B Mega-Deal to Beat Amazon, Google in Cloud
[Updated 10/29/18, 12:53 pm, with executives’ comments.] IBM has agreed to buy open-source software maker Red Hat in a $34 billion bet aimed at helping it win the cloud computing war against Amazon, Microsoft, and Google. It’s one of the largest-ever U.S. tech acquisitions—the $67 billion Dell-EMC deal holds the top spot. Armonk, NY-based IBM … Continue reading “IBM Buying Red Hat in $34B Mega-Deal to Beat Amazon, Google in Cloud”
Melinta Chief Exec Wechsler Steps Down, Johnson Named Interim CEO
Melinta Therapeutics (NASDAQ: [[ticker:MLNT]]) CEO Dan Wechsler has stepped down from the company and its board of directors. In his place, the New Haven, CT, antibiotics company appointed board member John Johnson to serve as interim CEO. Wechsler joined Melinta last November. In a prepared statement, the company said he is leaving “to pursue other … Continue reading “Melinta Chief Exec Wechsler Steps Down, Johnson Named Interim CEO”
Pineapples and Bananas: Yummy to Eat, And Now Fashionable to Wear
Style trends may come and go but the apparel industry is increasingly accepting that sustainability will always be in fashion. “We have the chance to shift the environment to a cleaner, more non-toxic place,” says Greg Altman, co-founder and CEO of Silk, a Boston-area maker of a proprietary liquid silk. “That’s really our goal.” To … Continue reading “Pineapples and Bananas: Yummy to Eat, And Now Fashionable to Wear”
U.K. Slaps Maximum Fine of $645,000 on Facebook for Privacy Violations
The U.K.’s data privacy regulator fined Facebook $645,000 for violations that allowed political marketing firm Cambridge Analytica and other outside companies to extract 87 million Facebook profiles worldwide without adequate user knowledge or consent. The purpose of the U.K.’s enforcement actions is to change the behavior of organizations that mishandle the sensitive private information of … Continue reading “U.K. Slaps Maximum Fine of $645,000 on Facebook for Privacy Violations”
Bio Roundup: Alzheimer’s Puzzle, ESMO Assessed, Drug Prices & More
In the biotech investment and research communities this week, much of the attention was turned to Europe. Munich, Germany, hosted the annual conference of the European Society for Medical Oncology, where cancer drug developers unveiled the latest clinical data for experimental immunotherapies and drugs that treat the disease based on a tumor’s genetic signature. Also … Continue reading “Bio Roundup: Alzheimer’s Puzzle, ESMO Assessed, Drug Prices & More”
Trump Plan Ties Medicare Drug Prices to Cheaper Foreign Ones
[Updated 5:41pm ET with analyst note, see below.] When the Trump administration announced its blueprint for lowering prescription drug prices in May, many observers said it was too soft on the biopharma industry and didn’t contain concrete initiatives that could truly cut costs. But with the U.S. midterm elections fast approaching and the high cost … Continue reading “Trump Plan Ties Medicare Drug Prices to Cheaper Foreign Ones”
Fresh Data Add More Confusion to Eisai-Biogen Alzheimer’s Drug
Three months after controversial data suggested an Alzheimer’s drug could slow the mental decline of the disease, the drug’s owners tried to bolster their argument today that the good news over the summer was not a statistical illusion. The drug in question is dubbed BAN2401, and it’s being co-developed by Biogen (NASDAQ: [[ticker:BIIB]]) of Cambridge, … Continue reading “Fresh Data Add More Confusion to Eisai-Biogen Alzheimer’s Drug”
Pursuing a “Crazy, Stupid” Idea & Photos From Disruptors in Boston
Michael Gilman was so close to retiring two years ago. His company, Padlock Therapeutics, was just acquired by Bristol-Myers Squibb (NYSE: [[ticker:BMY]]), and he was on his last week on the job. But at a board meeting, he saw an old friend, Jennifer Petter—then Russ Petter—and asked, what are you working on these days? Petter, … Continue reading “Pursuing a “Crazy, Stupid” Idea & Photos From Disruptors in Boston”
Berkeley’s SkyDeck Offers Chip Design Support Worth Millions to Startups
The current land rush in chip development, spurred as new technologies such as artificial intelligence create new needs, is pitting established semiconductor companies like Intel and Nvidia against tech titans like Facebook that are building their own chips. A wave of next-generation chip companies has also entered the fray. So how much room remains for … Continue reading “Berkeley’s SkyDeck Offers Chip Design Support Worth Millions to Startups”
In E-Commerce Marketing Race, Privy Aims to Democratize Online Tools
The push by Boston e-commerce tech startup Privy to become a marketing Swiss army knife for online merchants has fueled a new $4.25 million funding round for the company. The money will be used to double its headcount and help it move into more spacious digs from its current scrappy office quarters. Founder and CEO … Continue reading “In E-Commerce Marketing Race, Privy Aims to Democratize Online Tools”
Amgen Slashes Cholesterol Drug Price 60% to Match Rival Regeneron
[Updated, 10/25/18, 12:15 a.m. See below.] Amgen is cutting the list price of its new cholesterol-lowering drug by nearly 60 percent, a move the company says is intended to make the product more affordable for more patients. The move is a shot across the bow of Regeneron Pharmaceuticals (NASDAQ: [[ticker:REGN]]]). The Tarrytown, NY firm recently … Continue reading “Amgen Slashes Cholesterol Drug Price 60% to Match Rival Regeneron”
Blockchain Startup Algorand Bags $62M, Hires Fuze & LogMeIn Execs
[Updated 2/22/19, 2:14 pm ET. See below.] The blockchain and cryptocurrency industry has produced a lot of hype, but it is still working to deliver practical applications that are widely used by businesses. One of the startups trying to change that, Boston-based Algorand, said today it has scooped up $62 million in venture funding from … Continue reading “Blockchain Startup Algorand Bags $62M, Hires Fuze & LogMeIn Execs”
Baubles & Bling: Swoonery Uses Tech to Connect Shoppers With Jewelry
Jean Poh’s family has been in the jewelry business for four generations. And, for the most part, the industry has operated much the same as it always has, she says. Following a professional detour in which she worked as an attorney and angel investor, Poh made her way back to the jewelry business. She began … Continue reading “Baubles & Bling: Swoonery Uses Tech to Connect Shoppers With Jewelry”
ESMO ’18: Precision Meds, Breast, Lung, and More from the Cancer Front
[Ben Fidler co-authored this report.] The European Society for Medical Oncology is wrapping up its annual conference today, replete with clinical data from cancer’s front lines. We’ve sorted the headlines into a few big categories: immunotherapy combinations, breast cancer, lung cancer, the growing class of drugs called PARP inhibitors, and new drugs that treat tumors … Continue reading “ESMO ’18: Precision Meds, Breast, Lung, and More from the Cancer Front”
With $90M Round, Stoke Eyes a “Spinraza For Epilepsy” And a 2019 IPO
Ed Kaye stepped aside from Sarepta Therapeutics (NASDAQ: [[ticker:SRPT]]) last year after leading the company through one of the most noteworthy and controversial drug approvals in recent memory, for the Duchenne muscular dystrophy drug eteplirsen (Exondys 51). But his hiatus from a publicly traded biotech could be short-lived. Kaye’s new startup, Bedford, MA-based Stoke Therapeutics, … Continue reading “With $90M Round, Stoke Eyes a “Spinraza For Epilepsy” And a 2019 IPO”
Why Technology Alone Won’t Fix Education
“Artificial intelligence will transform the education system.” “Immersive technology will reshape learning forever.” These are just some of the industry rumblings about how edtech will disrupt and ultimately “fix” what’s wrong with the education system in the United States. With back-to-school season in full swing, it’s imperative that we set the record straight. The truth … Continue reading “Why Technology Alone Won’t Fix Education”
Tech Industry Lobby Proposes Data Privacy Laws; Critics Call Them Weak
The tech industry, which reaps billions of dollars by harvesting personal data and using it to sell targeted advertising and other services, opened the door to federal data privacy regulations today in a proposal by ITI, a lobbying organization for tech companies. The Information Technology Industry Council, which represents the policy interests of companies including … Continue reading “Tech Industry Lobby Proposes Data Privacy Laws; Critics Call Them Weak”
Techstars, EdX, SoftBank Join X·CON 2018 Program, Nov. 4-6
Two weeks from today will mark a most special occasion. Xconomy is convening top business and tech leaders from Boston and beyond for a multi-day conference to tackle the most pressing questions in the innovation community. X·CON 2018 will feature talks and interactive discussions at the Institute of Contemporary Art; robotics demos and security and … Continue reading “Techstars, EdX, SoftBank Join X·CON 2018 Program, Nov. 4-6”
Google Launching Its Own Computer Science Courses on Campuses
Early next year, twenty students will have the opportunity to study machine learning for 10 weeks with Google engineers, college professors, and coaches—free of charge. Google is picking up the tab for tuition, room, and board for all students accepted into its new machine learning intensives in the inaugural year of the program, which starts … Continue reading “Google Launching Its Own Computer Science Courses on Campuses”
Qpex Biopharma Launches with $33M to Tackle Drug-Resistant Infections
The Medicines Company exited the infectious disease business last year when it sold three bacteria-fighting products to Melinta Therapeutics. But Melinta didn’t get all of the company’s bug-fighting drugs, and what’s left has become a new company—Qpex Biopharma. San Diego-based Qpex has raised $33 million to advance The Medicines Company’s (NASDAQ: [[ticker:MDCO]]) old preclinical compounds toward … Continue reading “Qpex Biopharma Launches with $33M to Tackle Drug-Resistant Infections”
Abeona Therapeutics Appoints João Siffert Chief Medical Officer
João Siffert has been appointed head of research and development and chief medical officer of Abeona Therapeutics (NASDAQ: [[ticker:ABEO]]). As a result of Siffert’s hire, former chief medical officer Juan Ruiz will become head of European medical affairs. Siffert’s experience includes executive roles at Nestle Health Science, Avanir Pharmaceuticals, Avera Pharmaceuticals. New York-based Abeona is … Continue reading “Abeona Therapeutics Appoints João Siffert Chief Medical Officer”
Entrepreneurs Thinking Inside the Box
Hackathons usually involve thinking outside of the box. But for myself and four other MIT students, brainstorming, eating, and sleeping inside a 16-foot by 16-foot glass cube on campus for four days straight in mid-September proved just as effective at getting our creative juices flowing. The experience was part of InCube 2018, a global startup … Continue reading “Entrepreneurs Thinking Inside the Box”
Bio Roundup: Prices on TV, Novartis Hearts Radio, Warp Drive’s End
Two new battlegrounds emerged this week in the nation’s ongoing drug pricing debate. The first involved television: The federal government hopes that blaring prices in TV ads will essentially pressure drug makers into lowering them, and the pharma lobby fired back. The second centered around a group of pricey new migraine drugs: The nation’s largest … Continue reading “Bio Roundup: Prices on TV, Novartis Hearts Radio, Warp Drive’s End”
Xconomy’s EXOME Presents: New York Biotech—How to Make it Here
“If you can make it there, you can make it anywhere.” Frank Sinatra may have written that line before dawn of the biotech industry, but it applies to New York City’s long running aspirations to become a top life sciences hub. It’s harder to build a successful life sciences company in New York City than … Continue reading “Xconomy’s EXOME Presents: New York Biotech—How to Make it Here”
A Year Early, Merck Touts Good Kidney Cancer News to Push Rival BMS
Merck could soon join rival Bristol-Myers Squibb in making immunotherapy an option for kidney cancer patients who have never had treatment before. Merck (NYSE: [[ticker:MRK]]) reported today that its blockbuster drug pembrolizumab (Keytruda) has hit its marks much earlier than expected in an 861-person Phase 3 study called Keynote-426. Merck tested a combination of pembrolizumab … Continue reading “A Year Early, Merck Touts Good Kidney Cancer News to Push Rival BMS”
Nike’s Jim Scholefield Jumps to Merck to Lead Digital Strategy
Merck (NYSE: [[ticker:MRK]]) has appointed Jim Scholefield to serve as its chief information and digital officer. He starts his new job at the Kenilworth, NJ, pharmaceutical giant on Oct. 29. Scholefield is currently chief information officer at Nike (NYSE: [[ticker:NKE]]). His experience also includes executive roles at Coca-Cola (NYSE: [[ticker:KO]]), Northern Trust (NASDAQ: [[ticker:NTRS]]), and … Continue reading “Nike’s Jim Scholefield Jumps to Merck to Lead Digital Strategy”
Report: Express Scripts Shuts Out Teva Migraine Drug, Prefers Rivals
[Updated 10/17/18, 2:52 p.m. See below.] Express Scripts has just exerted its influence over the emerging market battle between drug makers trying to sell a new class of migraine-preventing medicines. The pharmacy benefits manager (PBM) is excluding a new drug from Teva Pharmaceutical from coverage while favoring two rival treatments instead, according to a report … Continue reading “Report: Express Scripts Shuts Out Teva Migraine Drug, Prefers Rivals”
Spinraza Inventors Take Home $3M Breakthrough Prize in Life Sciences
The inventor and developer of a drug, nusinersen (Spinraza), are among the winners of the Breakthrough Prize in Life Sciences. Adrian Krainer (pictured) of Cold Spring Harbor Laboratory and Frank Bennett, senior vice president of research at Ionis Pharmaceuticals, share the $3 million award. The Breakthrough Prizes, now it their seventh year, tout themselves as … Continue reading “Spinraza Inventors Take Home $3M Breakthrough Prize in Life Sciences”
SoftBank’s Arm to Include Cybereason Security Services in IoT Hub
Security-tech company Cybereason is announcing another boon flowing from close ties with its biggest investor, Japanese telecom and tech giant SoftBank. Boston-based Cybereason has formed a partnership with Arm, the dominant developer of computer chip architecture, which was acquired by SoftBank in 2016. Cybereason’s security services will be incorporated into the Arm Pelion IoT platform, a … Continue reading “SoftBank’s Arm to Include Cybereason Security Services in IoT Hub”
Citing Regulatory Uncertainty, Origin Code Academy to Close
Origin Code Academy, one of San Diego’s few coding schools—for-profit companies that offer short-term vocational training in computer programming—said this month it will shutter on Nov. 16 after about three years in business. The company opened in late 2015, offering a 12-week course for $13,500 and promising graduates a software job within 90 days of … Continue reading “Citing Regulatory Uncertainty, Origin Code Academy to Close”
Paul Allen’s Contributions, Far Beyond Microsoft, Touched the Brain, AI & More
Technology and life sciences leaders say they’ll remember Paul Allen, the Microsoft co-founder, philanthropist, and investor who passed away Monday at age 65, as an “inspiration” whose work will impact the fields he worked in for years to come. Allen died from complications of non-Hodgkin’s lymphoma, according to a statement from Vulcan, the Seattle-based philanthropy … Continue reading “Paul Allen’s Contributions, Far Beyond Microsoft, Touched the Brain, AI & More”
Eli Lilly’s David Bleakman Joins Redpin as Chief Scientific Officer
Redpin Therapeutics has appointed David Bleakman to serve as chief scientific officer of the New York biotech. Before joining Redpin, Bleakman spent 25 years at Eli Lilly (NYSE: [[ticker:LLY]]), most recently as vice president, chief scientific officer, and neuroscience site leader in New York. Redpin, a resident company at JLABS @ NYC, is developing drugs … Continue reading “Eli Lilly’s David Bleakman Joins Redpin as Chief Scientific Officer”
Tulerie Helps Users Dress Like Models, Without Breaking the Bank
Tulerie makes its debut today, joining a growing roster of online clothing rental startups. The New York-based Tulerie focuses on high-end couture—items that retail for $1,000 to $10,000—that might be worn a time or two but mostly take up space in a woman’s closet. The company is building a two-sided marketplace, with owners of haute … Continue reading “Tulerie Helps Users Dress Like Models, Without Breaking the Bank”
After Net Neutrality: How to Prepare for the Internet’s New Reality
The federal net neutrality regulation, which had guaranteed equal access to the Internet for data from all sources, is officially repealed. There are no longer federal rules ensuring that all Internet traffic must be treated equally, and no FCC protections to stop Internet Service Providers (ISPs) from engaging in blocking, throttling, or paid prioritization of … Continue reading “After Net Neutrality: How to Prepare for the Internet’s New Reality”
Fidelity’s New Crypto Startup Could Spark Wall Street Investment
Blockchain and cryptocurrency advocates have been waiting for large financial institutions to shed their wariness and begin investing meaningful amounts of money into the emerging technology. The sector may have gotten a significant catalyst on Monday, when Fidelity Investments announced it created a separate venture that will offer digital currency services to hedge funds, family … Continue reading “Fidelity’s New Crypto Startup Could Spark Wall Street Investment”
Former Amgen Exec Sersch Joins Mustang Bio as Chief Medical Officer
Mustang Bio (NASDAQ: [[ticker:MBIO]]) has appointed Martina Sersch to serve as chief medical officer. Sersch comes to New York-based Mustang from Amgen (NASDAQ: [[ticker:AMGN]]), where she was executive director. Mustang is developing cell therapies to treat cancer and gene therapies to treat rare, genetic disorders.
Room Service by Robot and Other Ways Tech Is Changing the Hotel Stay
More days than not, Michael Colaneri’s home is a hotel room. So innovations like “geolocation” sensors that automatically unlock his room door and adjust the thermostat when he’s nearby make the constant change easier—sometimes. “My experience has been exceptionally inconsistent,” he says. “When it’s worked, it’s really great, cool, and so efficient to the point … Continue reading “Room Service by Robot and Other Ways Tech Is Changing the Hotel Stay”
MIT Raises $650M for New College to Advance A.I. With Eye on Ethics
MIT is making another significant investment in artificial intelligence. The Institute announced Monday that it will establish a new college on its Cambridge, MA, campus—the MIT Stephen A. Schwarzman College of Computing—that will serve as an interdisciplinary hub for advancing ideas in computer science, artificial intelligence, data science, and related fields. The college is getting … Continue reading “MIT Raises $650M for New College to Advance A.I. With Eye on Ethics”