Nivolumab (Opdivo) recently became the first immunotherapy ever approved for people with small cell lung cancer (SCLC), a particularly aggressive form of the deadly disease. But the lead given to its developer, Bristol-Myers Squibb, may be short-lived. Bristol (NYSE: [[ticker:BMY]]) said today that its immunotherapy nivolumab (Opdivo) failed a Phase 3 study called Checkmate 331. … Continue reading “Bristol Stumbles in Lung Cancer Again as Rivals Play Catch-Up”
Category: New York
Adynxx Agrees to Merger with Alliqua to Gain Public Stock Listing
The number of biotech companies completing an IPO has swelled this year and Adynxx aims to join their ranks—but through an alternate path. The pain drug developer has agreed to combine operations with publicly traded Alliqua Biomedical. Under the merger agreement announced Friday, shares of Adynxx will convert into Alliqua (NASDAQ: [[ticker:ALQA]]) stock, leaving former … Continue reading “Adynxx Agrees to Merger with Alliqua to Gain Public Stock Listing”
Bio Roundup: BIO Diversity, Allogene IPO, CRISPR In Utero & More
Nearly four years after investors snapped up new shares of Juno Therapeutics in a $265 million IPO, cancer immunotherapy remains a hot ticket. Like Juno, Allogene Therapeutics just pulled in a massive IPO haul, nearly $300 million. And like Juno, Allogene is working with a live immune-cell treatment called CAR-T, but it is harvesting cells … Continue reading “Bio Roundup: BIO Diversity, Allogene IPO, CRISPR In Utero & More”
Facebook Bars 800 Fake Accounts and Pages For Using Tactics Like Russia’s
In another wave of account shutdowns, Facebook announced Thursday that it disabled more than 800 pages and accounts to prevent groups that disguised their identities from flooding its network with inauthentic content—some of it hyper-partisan political messages. Facebook (NASDAQ: [[ticker:FB]]) has been under pressure to cleanse its pages of fake news since the discovery that … Continue reading “Facebook Bars 800 Fake Accounts and Pages For Using Tactics Like Russia’s”
BIO Has Big Diversity Goals. Does It Have the Means to Reach Them?
Whether from embarrassing parties or sobering surveys, the biotech gender gap problem has made plenty of headlines the past couple years. The industry’s largest trade group, the Biotechnology Industry Organization (BIO), is trying to encourage its more than 1,000 member companies to do better. Last winter, BIO posted diversity goals for the industry to hit … Continue reading “BIO Has Big Diversity Goals. Does It Have the Means to Reach Them?”
Tim Berners-Lee Building Inrupt to Fix the Web—Will Users Come?
The World Wide Web is at a crossroads. For all the benefits it has brought society over the past three decades—faster and easier communication, instant knowledge access, a seemingly inexhaustible marketplace of goods and services—the Web has also morphed into an “engine of inequity and division,” according to its inventor, Tim Berners-Lee (pictured above). In … Continue reading “Tim Berners-Lee Building Inrupt to Fix the Web—Will Users Come?”
Special Day Passes for X·CON 2018! November 4, 5, and 6
In less than a month Xconomy’s newest event, X·CON 2018, will explore the future of innovation across multiple topics and industries, and facilitate deep interactions far beyond your standard conference. It will take place on November 4, 5, and 6 in three innovation venues in Kendall Square and Boston’s Seaport District. The conference is aimed … Continue reading “Special Day Passes for X·CON 2018! November 4, 5, and 6”
Planes, Drones & Automobiles: Techstars Grads Run the Mobility Gamut
On Tuesday afternoon, before a packed house at the Detroit Institute of Art’s film theatre, 11 startups just finishing a summer stint in the Techstars Mobility accelerator program took to the stage to talk more about what their companies were developing. Company founders pitched to a crowd of investors, entrepreneurs, automotive and tech executives, and … Continue reading “Planes, Drones & Automobiles: Techstars Grads Run the Mobility Gamut”
Allogene’s IPO Raises $288M for Tests of “Off-the-Shelf” Cell Therapy
Allogene Therapeutics has raised $288 million in an IPO, marking one of the biggest stock market debuts for a biotech this year. The cell therapy developer sold 18.4 million shares at $18 apiece, within the high end of its projected $16 to $18 per share range. Shares of South San Francisco, CA-based Allogene are expected … Continue reading “Allogene’s IPO Raises $288M for Tests of “Off-the-Shelf” Cell Therapy”
Anaplan Ups Estimate For Its IPO Haul; Allogene IPO Raises $288M
San Francisco-based Anaplan, one of five companies planning to close initial public offerings this week, raised the expected price range for its shares in an SEC filing Wednesday, signaling an IPO that could be richer than it had anticipated. Enterprise planning software company Anaplan, which is privately valued at more than $1.4 billion, had originally … Continue reading “Anaplan Ups Estimate For Its IPO Haul; Allogene IPO Raises $288M”
ContraVir Names Robert Foster Acting CEO in Executive Shuffle
Robert Foster is now acting CEO of ContraVir Pharmaceuticals (NASDAQ: [[ticker:CTRV]]). Foster, ContraVir’s chief scientific officer for the past two years, succeeds James Sapirstein, who had been the Edison, NJ, company’s chief executive since 2014. According to a securities filing, Sapirstein resigned as a director of the company effective Oct. 2. No reason for the … Continue reading “ContraVir Names Robert Foster Acting CEO in Executive Shuffle”
In New York, Gotham Starts Up With $54M for RNA-Modifying Drugs
A new company has emerged from New York City’s growing startup biotech scene. Gotham Therapeutics launched today with a $54 million Series A round, becoming the second startup since May to form with a plan to alter RNA molecules with chemical drugs. The funding was co-led by Versant Ventures, a venture firm that formed an … Continue reading “In New York, Gotham Starts Up With $54M for RNA-Modifying Drugs”
Eyeing NASH, Glympse Raises $22M to Test Disease Detection Nanotech
Glympse Bio has developed sensor technology that it says can give clinicians an early look at a developing disease. As Glympse prepares to test its disease detection approach in a serious liver disorder, the startup has raised $22 million in Series A financing. LS Polaris Innovation Fund and Arch Venture Partners co-led the investment in Cambridge, … Continue reading “Eyeing NASH, Glympse Raises $22M to Test Disease Detection Nanotech”
U.S. Venture Capital Deals on Pace to Exceed $100B in 2018
Once considered a passing phase, the concentration of capital into fewer, larger venture capital deals appears to be the new normal. Fueled by so-called mega-funds, investment in U.S.-based venture-backed companies as of the end of the third quarter hit a decade high, and is on pace to pass the $100 billion mark by year’s end. … Continue reading “U.S. Venture Capital Deals on Pace to Exceed $100B in 2018”
With a $10.2M Boost, YourMechanic Aims at Mobility Fleet Market
Every month, there’s news of another partnership among carmakers like GM and tech companies such as Uber, as they vie for dominant roles in a transportation future where individual car ownership may largely give way to rides-on-demand from fleets of autonomous and tech-enabled vehicles. But whether Uber, Toyota, GM, Honda, or Google end up at … Continue reading “With a $10.2M Boost, YourMechanic Aims at Mobility Fleet Market”
Click Therapeutics Adds Randall Kaye, Austin Speier to C-Suite
Click Therapeutics has appointed Randall Kaye to serve as its chief medical officer. Kaye comes to Click from SSI Strategy, where he was chief scientific officer. New York-based Click also appointed Austin Speier to serve as chief strategy officer. Speier was previously vice president of emerging technologies at Precision for Medicine. Click is developing software … Continue reading “Click Therapeutics Adds Randall Kaye, Austin Speier to C-Suite”
Genomatica Grabs $90M to Boost Sustainable Chemical Business
Bioengineering pioneer Genomatica has raised $90 million in private funding to accelerate the commercialization of two chemicals it has developed from renewable sources—chemicals that are being used today in plastics, cosmetics, and personal care. The company says it will also use the money to further ongoing development of a third chemical, to be used in … Continue reading “Genomatica Grabs $90M to Boost Sustainable Chemical Business”
With Orchard’s IPO, GSK’s Old Gene Therapy Biz Gets a Wall Street Test
GlaxoSmithKline’s former gene therapy portfolio is headed to Wall Street—in the hands of Orchard Therapeutics. The London, Boston, and San Francisco, CA, company has filed for an IPO, aiming to back both a group of in-house gene therapies and others it acquired from GSK in April—among them Strimvelis, which is one of the few approved … Continue reading “With Orchard’s IPO, GSK’s Old Gene Therapy Biz Gets a Wall Street Test”
Bio Roundup: Nobel Prizes, Duchenne Steps, Guardant’s IPO & More
Cancer immunotherapy is all the rage these days. The idea of harnessing the immune system to treat cancer has sparked billions of dollars in research, led to a vast matrix of clinical trials, and started to change the way how several cancers are treated. The reason: When it works, cancer immunotherapy can lead to longer-lasting … Continue reading “Bio Roundup: Nobel Prizes, Duchenne Steps, Guardant’s IPO & More”
Janssen Reaches $250M Deal for Rights to Arrowhead’s Hep B RNAi Drug
Arrowhead Pharmaceuticals is licensing one of its drug candidates, a hepatitis B treatment, to a subsidiary of pharmaceutical giant Johnson & Johnson in a cash and stock deal valued at $250 million up front. The agreement announced Thursday comes one month after Pasadena, CA-based Arrowhead, which operates its laboratories in Madison, WI, reported encouraging early … Continue reading “Janssen Reaches $250M Deal for Rights to Arrowhead’s Hep B RNAi Drug”
FDA Approves Roche Drug For All Hemophilia A Patients, But Rivals Loom
The treatment landscape for hemophilia is changing fast, and today marks a turning point. The FDA has just cleared Roche to sell its drug emicizumab (Hemlibra) to patients with any form of hemophilia A—making it, potentially, the choice treatment for the disease. At least for now. The FDA first approved emicizumab in late 2017 for … Continue reading “FDA Approves Roche Drug For All Hemophilia A Patients, But Rivals Loom”
ClimaCell Grabs $45M for Weather Data for Airlines, Driverless Cars
Aviation, public utilities, and insurance are among the old-line industries that rely on accurate weather forecasts and monitoring to make crucial decisions for their operations. Now, advances in artificial intelligence and other technologies are creating uses for weather data in new sectors—think ride-hailing services, drones, and self-driving cars. That’s according to ClimaCell, a Boston-based startup … Continue reading “ClimaCell Grabs $45M for Weather Data for Airlines, Driverless Cars”
Cloudera, Hortonworks Plan to Merge as $5.2B Cloud Data Platform
Cloudera and Hortonworks, two large, publicly traded companies that compete to offer Web-based data storage and analytics, announced plans today to merge into a combined entity they value at $5.2 billion. Share prices for the two Silicon Valley companies spiked in after-hours trading following the announcement Wednesday that both their boards approved the all-stock deal. Palo … Continue reading “Cloudera, Hortonworks Plan to Merge as $5.2B Cloud Data Platform”
Sarepta Touts New Data and a “Signal” With Duchenne Gene Therapy
For the first time, a gene therapy—a one-time, long-lasting treatment—has shown it may improve the lives of kids with Duchenne muscular dystrophy, a deadly genetic disease with no cure. Patients in a small trial showed improved motor function, such as walking and climbing stairs, and near-normal levels of a key muscle protein. But the data … Continue reading “Sarepta Touts New Data and a “Signal” With Duchenne Gene Therapy”
Girls In Tech Showcases Women Founders In SF Pitch Competition
Kristina Tsvetanova says she found the motivation for her startup Blitab in 2014, when a blind colleague’s struggle to communicate via the Internet made her conscious of the barriers facing visually impaired people in a digital world. Her search for solutions spurred her to move from her native Bulgaria to find greater resources in Vienna, … Continue reading “Girls In Tech Showcases Women Founders In SF Pitch Competition”
Elemental Partners With PerkinElmer, Lands $9M in VC Bucks
[Updated, 10/3/18, 1:35pm, to clarify the customer relationship] Elemental Machines is a startup making progress in a challenging field. That field would be sensors and systems that monitor and optimize physical processes in life sciences, pharmaceuticals, and other industries. You can tell it’s challenging because there isn’t even a name for it. But it touches … Continue reading “Elemental Partners With PerkinElmer, Lands $9M in VC Bucks”
FDA’s Latest Cancer Approval Underscores Immunotherapy Nobel Prize
The FDA is not only approving a lot more drugs these days, it seems to have also developed a sense of dramatic timing. Late last Friday, the agency approved its seventh checkpoint inhibitor, a type of cancer drug that blocks a tumor’s ability to hide from the immune system. Less than 72 hours later, two … Continue reading “FDA’s Latest Cancer Approval Underscores Immunotherapy Nobel Prize”
Albert Bourla Named Successor to Pfizer CEO Ian Read
Pfizer (NYSE: [[ticker:PFE]]) CEO Ian Read will step away from the company’s top job at the end of the year and become executive chairman of its board of directors, the company announced Monday. Albert Bourla, currently Pfizer’s chief operating officer, has been elected by the board to serve as the company’s CEO. The changes for … Continue reading “Albert Bourla Named Successor to Pfizer CEO Ian Read”
Here’s the Agenda for X·CON 2018 on Nov. 4-6 (and Why You Should Care)
There’s something special brewing in Boston. On November 4, 5, and 6, we are convening business leaders across tech, life science, and other innovation fields to showcase the big trends that will transform industry—and society. Our speakers include Esther Dyson, Sandy Pentland, Diane Hessan, Mohamad Ali, and executives from Google, IBM, Dell EMC, Philips, and … Continue reading “Here’s the Agenda for X·CON 2018 on Nov. 4-6 (and Why You Should Care)”
Austin’s Spanning Cloud Bought by Kaseya, Third Owner Since 2014
Austin—Spanning Cloud Apps, a software data backup service, has been sold to Kaseya, a Dublin-based IT infrastructure management company. Terms of the deal weren’t disclosed. Austin, TX-based Spanning was sold by New York private equity firm Insight Venture Partners, which acquired the cloud backup and recovery company from Dell EMC in April 2017. Founded in … Continue reading “Austin’s Spanning Cloud Bought by Kaseya, Third Owner Since 2014”
TUGG, Led by Reddit Vet, Plans New “Volunteer in Residence” Program
TUGG is getting more ambitious. Over the past decade, TUGG, which stands for Technology Underwriting Greater Good, has become one of the most visible efforts by employees of Boston-area tech companies and venture capital firms to give back to the local community. Working with the nonprofit, employees donate their time and money to local charities … Continue reading “TUGG, Led by Reddit Vet, Plans New “Volunteer in Residence” Program”
Findera Tries a Pivot Amid a Whirlwind Over Data Privacy Rules
Early last year, the San Francisco startup Yozio decided it would have to scuttle its core mission, despite having attracted marquee customers including Pinterest and Airbnb within only a few years. The problem was, there turned out to be too few such websites with the size and sophistication to use Yozio’s app-optimization tools to advantage, … Continue reading “Findera Tries a Pivot Amid a Whirlwind Over Data Privacy Rules”
XRC Labs Showcases Retail Tech Innovations in VR, AI, Big Data
XRC Labs, an accelerator program focused on e-commerce and retail startups, held a demo day for its latest class Thursday, featuring innovations in artificial intelligence, virtual reality, and other technologies. The group of 10 startups is the sixth class for New York-based XRC, which was founded three years ago to promote innovation in the disruptive … Continue reading “XRC Labs Showcases Retail Tech Innovations in VR, AI, Big Data”
Bio Roundup: Amarin’s Stunner, Lung Cancer News, Data Dumps & More
Six years ago, a biotech called Amarin won FDA approval of a prescription fish-oil pill, Vascepa, because it could lower triglycerides, a type of fat in the blood. But Amarin didn’t have the evidence that lowering triglycerides with fish oil would really help people. Sales lagged. Amarin’s shares sank. While other groups tested other fish … Continue reading “Bio Roundup: Amarin’s Stunner, Lung Cancer News, Data Dumps & More”
Six Life Science Firms Close Q3 with an IPO, More Are on the Way
The window for life science IPOs is still open, and five biotechs and one medical device company chose the last week of the third quarter to make their stock market debuts. Gritstone Oncology (NASDAQ: [[ticker:GRTS]]) closed out the week by raising $100 million in an upsized IPO. On Thursday night, Emeryville, CA-based Gritstone priced its … Continue reading “Six Life Science Firms Close Q3 with an IPO, More Are on the Way”
Where Can Influential Companies Go to Meet Exceptional Black VCs?
Culture Shifting Weekend—a November 1-3 invitation-only summit, presented by Culture Shift Labs (CSL)—will offer a rare opportunity for leading companies and investors to meet, vet, and fund the fast-growing ecosystem of Black venture capitalists and VC firms. Hosted at Infor in New York City, Culture Shift Lab’s annual three-day event will enable institutional investors, social … Continue reading “Where Can Influential Companies Go to Meet Exceptional Black VCs?”
Tvardi, Co-Founded by Former MD Anderson Leader DePinho, Raises $9M
Houston—Tvardi Therapeutics, a Houston biotech co-founded last year by the former chief of the University of Texas M.D. Anderson Cancer Center, has raised $9 million to support clinical trials of an experimental cancer drug developed through research at the medical center. Ron DePinho, past president of the M.D. Anderson Cancer Center, co-founded the company with … Continue reading “Tvardi, Co-Founded by Former MD Anderson Leader DePinho, Raises $9M”
Blink Health Ramps Up in Boston as Amazon Eyes Prescription Drugs
A few months after Amazon announced a deal to acquire Boston-area online pharmacy startup PillPack, another healthcare technology venture is growing its presence here as it attempts to shake up the retail pharmacy industry. The newcomer is New York-based Blink Health, a four-year-old startup that enables people to buy low-cost prescription drugs online and pick … Continue reading “Blink Health Ramps Up in Boston as Amazon Eyes Prescription Drugs”
Big Pharma Seeks More Partnerships, Evidence in Digital Therapeutics
“Digital therapeutics” startups are starting to win more respect—and investment dollars—from pharmaceutical giants. But the two sides are still figuring out how to work together to capitalize on the potential for apps, devices, and other software-enabled technologies to impact patients’ health. That’s what stood out to me the most as I listened to leaders from … Continue reading “Big Pharma Seeks More Partnerships, Evidence in Digital Therapeutics”
Author Hits Detroit to Discuss Dangers of Automating Public Assistance
There are few life events more stressful than suddenly losing a job. One of the safety net measures in place for displaced workers is unemployment insurance: reoccurring, state-administered benefit checks that eligible workers receive for a few months while trying to get back on their feet. That’s how the system is supposed to work, anyway. … Continue reading “Author Hits Detroit to Discuss Dangers of Automating Public Assistance”
Syntimmune Turns Drug For Rare Anemia Into $400M Alexion Buyout
Syntimmune, a biotech startup formed by the veteran founders of the hemophilia drug developer Syntonix, has been acquired by Alexion Pharmaceuticals for $400 million in cash up front. Syntimmune is right in Alexion’s (NASDAQ: [[ticker:ALXN]]) wheelhouse. The Boston-based firm is best known for eculizumab (Soliris), a drug for ultra-rare blood diseases. In buying Syntimmune, Alexion … Continue reading “Syntimmune Turns Drug For Rare Anemia Into $400M Alexion Buyout”
Catch CRISPR 2.0, RNA-Targeting Drugs & More At “Disruptors” on Oct. 17
These days biotechs are raising cash and going public at a record pace. But before the Wall Street buzz and the big raises, they all started somewhere—with an idea, a pitch, and perhaps a little luck. Xconomy dives into these company creation stories at “Boston’s Life Science Disruptors,” our yearly look under the hood at … Continue reading “Catch CRISPR 2.0, RNA-Targeting Drugs & More At “Disruptors” on Oct. 17”
Morphic Nets Another $80M For Integrin Drugs & First Human Tests
Morphic Therapeutic, a startup from Harvard scientist-entrepreneur Tim Springer, has reloaded with an $80 million Series B round that should get the company to its first human tests. The round includes a number of crossover investors (including Invus and EcoR1; Novo Holdings and Omega Funds co-led the financing), which back both private and publicly traded … Continue reading “Morphic Nets Another $80M For Integrin Drugs & First Human Tests”
Human Augmentation, Throwable Robots & More at X·CON, Nov. 4-6
With fall officially here, it’s time to ask some big questions about the coming year—and decade. What will be the most transformative technology areas for society and business? What should students and innovators be doing to prepare for five to 10 years from now? Who are the leaders and companies that will shape this future? … Continue reading “Human Augmentation, Throwable Robots & More at X·CON, Nov. 4-6”
Another Precision Step for Roche as Ignyta Drug Heads to Regulators
There was more news this morning in the advancement of precision cancer drugs, which target a tumor’s genetic signature. Roche plans to file for approval of entrectinib, a drug the Swiss firm acquired when it bought San Diego, CA-based Ignyta for $1.7 billion last year. Roche’s Genentech unit provided updated data pooled from three early … Continue reading “Another Precision Step for Roche as Ignyta Drug Heads to Regulators”
Amarin Soars as Fish Oil Pill Cuts Risk of Strokes in Long-Awaited Study
Can fish oil help prevent, or reduce the risk of heart disease? Several studies have failed to show that it can. But Amarin this morning is releasing data from a massive study showing that its prescription-grade fish oil pill, Vascepa, has done that—at least for some patients. Amarin (NASDAQ: [[ticker:AMRN]]), of Bedminster, NJ, and Dublin, … Continue reading “Amarin Soars as Fish Oil Pill Cuts Risk of Strokes in Long-Awaited Study”
How Groups Are Closing the Security Skills Gap, Boosting Diversity
Today, there is a massive shortage of cybersecurity talent across the globe. According to a 2015 study from Frost & Sullivan and the (ISC)² Foundation, there could be more than 1.5 million unfilled cybersecurity positions globally by 2020. As cybersecurity attacks and data breaches, unfortunately, become a matter of not if but when, security talent … Continue reading “How Groups Are Closing the Security Skills Gap, Boosting Diversity”
Sigstr Snags $4M Funding Round as Marketing Tech Sector Gets Hotter
Sigstr, the Indianapolis-based marketing tech startup, announced this week that it has raised $4 million in new venture funding. The round was led by Edison Partners, with participation from past investors, including Hyde Park Venture Partners, HubSpot Ventures, High Alpha Capital, Battery Ventures, and 4G Ventures. Bryan Wade, Sigstr’s CEO, says the company plans to … Continue reading “Sigstr Snags $4M Funding Round as Marketing Tech Sector Gets Hotter”
Y-mAbs Upsizes IPO, Gets $96M to Test Two Pediatric Cancer Drugs
Cancer drug developer Y-mAbs Therapeutics is the latest biotech company to go public, raising $96 million in its IPO. New York-based Y-mAbs priced its offering of 6 million shares at $16 each, which was the high end of its projected range. The company had planned to sell 5.3 million shares priced at $14 to $16 … Continue reading “Y-mAbs Upsizes IPO, Gets $96M to Test Two Pediatric Cancer Drugs”
In Adobe’s $4.75B Acquisition of Marketo, a Signal for Marketing Tech
Tech giant Adobe announced Thursday it is buying marketing-software firm Marketo for $4.75 billion. The move may have a ripple effect on the realm of enterprise sales and marketing. Marketo, based in San Mateo, CA, was founded in 2006 and built its business on marketing automation—using software to track and manage potential customers’ interactions with … Continue reading “In Adobe’s $4.75B Acquisition of Marketo, a Signal for Marketing Tech”