Join Xconomy next Wednesday, May 31, at “New York Biotech Seizes the Momentum” for an afternoon of unique, candid, and interactive chats to discuss the steps being taken by a variety of key figures to change the state’s biotech identity. Don’t wait to register—our Procrastinator’s Special ends next week and it’s your last chance to … Continue reading “Last Chance to Save on “New York Biotech Seizes the Momentum””
Category: New York
Unconventional Partners, Like FDA, Can Drive Adoption of New Tech
We’ve heard it time and again. Drug development is too expensive, takes too long, and many drug candidates that show promise in preclinical trials end up failing because testing methods don’t predict how they will work in humans. Recently, new technologies have emerged that offer disruptive potential for steering the development of drugs in more … Continue reading “Unconventional Partners, Like FDA, Can Drive Adoption of New Tech”
Gottlieb Says FDA’s “Regulatory Tools” Can Help Fight Opioid Abuse
The FDA considers how safe and effective a new drug is before approving it. But for addictive opioid painkillers, which have triggered a massive public health crisis, should the agency also weigh the potential for the medication to be abused? That’s one of the questions that new FDA Commissioner Scott Gottlieb is posing as he … Continue reading “Gottlieb Says FDA’s “Regulatory Tools” Can Help Fight Opioid Abuse”
FDA Landmark Nod: Cancer Drug To Match Tumor Genes, Not Tissue Type
For many years, doctors and researchers have known that cancers in different parts of the body can share genetic abnormalities. For the first time, the FDA has approved a drug based on those abnormalities and not on the organ in which the cancer originated. It’s a moment that a lot of people in the cancer … Continue reading “FDA Landmark Nod: Cancer Drug To Match Tumor Genes, Not Tissue Type”
Trump’s Cybersecurity Czar Talks WannaCry, Industry Partnerships
The Trump administration’s plan for strengthening the nation’s cyber defenses is starting to come into focus. Rob Joyce, a special assistant to the president and the White House’s cybersecurity coordinator, spoke in Boston Monday at an event promoting the launch of CyberMA, a Massachusetts affiliate of the national CyberUSA initiative. CyberMA is a MassTLC-led group … Continue reading “Trump’s Cybersecurity Czar Talks WannaCry, Industry Partnerships”
Celgene’s Data Could Lead To New Option For Multiple Sclerosis Patients
Celgene reported Monday that an experimental pill for the main type of multiple sclerosis met its main goals in a two-year study. By the end of the year, the Summit, NJ, drugmaker will ask the FDA to consider the drug, ozanimod, for approval. The Celgene (NASDAQ: [[ticker:CELG]]) drug is being tested in patients with relapsing … Continue reading “Celgene’s Data Could Lead To New Option For Multiple Sclerosis Patients”
Envision the Future: Request Your Invite to Our Napa Summit June 8-9
We are getting down to the wire—just two and a half weeks until Xconomy’s most unique, up close and personal event of the year: our sixth annual Napa Summit: The Xconomy Retreat on Technology, Jobs, and Growth. We have only about 20 spots left open, and a number of those will likely go fast. So … Continue reading “Envision the Future: Request Your Invite to Our Napa Summit June 8-9”
What’s Next for American Workers as Trade, Automation Roil Manufacturing?
When Donald Trump heralded Ford’s announcement earlier this year that it would invest $1.2 billion in its Michigan plants, it was seen by some as the fulfillment of campaign promises to “bring jobs back” and put America first. Last week, the other shoe dropped with reports that Ford will cut 10 percent of its global … Continue reading “What’s Next for American Workers as Trade, Automation Roil Manufacturing?”
Bio Roundup: Termeer Tribute, ASCO Peeks, Califf’s New Gigs & More
Exhausted by the nonstop drama in Washington, DC? Immerse yourself instead in this week’s biotech headlines. Let’s start with a tribute to a life sciences icon, then we’ll head around the Xconomy network with early news from the nation’s big yearly cancer meeting. There was also momentum onthe IPO front and new gigs for high-profile … Continue reading “Bio Roundup: Termeer Tribute, ASCO Peeks, Califf’s New Gigs & More”
The Reconfigurable Future of Healthcare
Data plays a more central role in healthcare than ever before. It won’t be long before every person’s genome is sequenced at birth, with follow-up sequencing done at regular intervals throughout life. Each genomic check-up would produce roughly 180 gigabytes of data that will need to be processed, analyzed, and stored. The promise of using … Continue reading “The Reconfigurable Future of Healthcare”
Ex-Sarepta CEO Garabedian Returns to Run Bio Accelerator Xontogeny
Chris Garabedian, a veteran biotech executive who helped turn Sarepeta Therapeutics around before his controversial exit in 2015, has returned to the life sciences scene—this time with a new venture to form some biotech startups and help others find their footing. Garabedian is the chairman and CEO of a new Boston-based life sciences accelerator called … Continue reading “Ex-Sarepta CEO Garabedian Returns to Run Bio Accelerator Xontogeny”
Boundless Co-Founders Unveil New Startup, Blissfully, in New York
The Boundless boys are at it again. Ariel Diaz and Aaron White, who previously co-founded Boston education startup Boundless, have moved to New York City to pursue a new tech venture. The new company is called Blissfully, and it recently raised a $1.5 million seed funding round led by Eric Paley at Founder Collective. Blissfully … Continue reading “Boundless Co-Founders Unveil New Startup, Blissfully, in New York”
Figuring It Out: Addressing Practices That Impact Women in Technology
The Women’s March, New Tech Northwest’s annual “Women in Tech” event, and International Women’s Day are just a few of the recent events prompting important conversations around inequality in the tech industry. These discussions, while breakthroughs in many regards, are still just the beginning of real change. I’ve gathered a number of ideas for what … Continue reading “Figuring It Out: Addressing Practices That Impact Women in Technology”
Stifling Immigration Is “Retrograde”: Highlights From “What’s Hot”
Drug pricing. The opioid epidemic. Boardroom diversity. Immigration crackdowns. The state of cancer care now, and in the future. These things aren’t just topics of conversation in Boston biotech circles, but nationwide. Connecting those two with some lively, candid discussions was the idea behind Xconomy’s “What’s Hot in Boston Biotech” event last week. Today we’re … Continue reading “Stifling Immigration Is “Retrograde”: Highlights From “What’s Hot””
Hurry & Save 20 Percent on New York Biotech Seizes the Momentum
We’re only two weeks away from New York Biotech Seizes the Momentum, which will take place Wednesday, May 31, at Alexandria Center for Life Science. If you’re already planning on attending, there’s no need to wait any longer—our Super Saver special ends soon and seats are filling up fast, so act now and save 20 … Continue reading “Hurry & Save 20 Percent on New York Biotech Seizes the Momentum”
Riding Recent Biotech IPO Wave, G1 Snags $105M to Fund Cancer Work
Cancer drugmaker G1 Therapeutics raised $105 million in an IPO last night, the latest development in a recent uptick of biotech offerings. G1, of Research Triangle Park, NC, sold 7 million shares at $15 apiece. G1 had to sell more shares than it had intended (6.25 million) to hit its goal, but still priced within … Continue reading “Riding Recent Biotech IPO Wave, G1 Snags $105M to Fund Cancer Work”
Proofpoint Uncovers Second Cyberattack That Uses Stolen NSA Tools
Cybersecurity company Proofpoint, which helped slow the sweeping global ransomware attack WannaCry after it emerged Friday, has now discovered a much more insidious, profitable, and potentially widespread cyberattack called Adylkuzz. Adylkuzz doesn’t demand, as WannaCry does, that victims pay a ransom to retrieve their data. Adylkuzz makes no announcement when it quietly invades target computers. … Continue reading “Proofpoint Uncovers Second Cyberattack That Uses Stolen NSA Tools”
Austin’s MAP Health Teams Up With Watson For Better Data Analytics
Austin—MAP Health Management, an Austin health IT and telehealth company, is partnering with IBM Watson to use analytics to better treat patients with substance abuse problems. The partnership is designed to fill a gap in long-term care for recovering addicts. The companies will use data analytics to understand which patients are at greatest risk of … Continue reading “Austin’s MAP Health Teams Up With Watson For Better Data Analytics”
5 Takeaways From the WannaCry Ransomware Attack
This may be the incident that finally pushes ransomware into the mainstream—and also forces both organizations and malicious hackers to adapt their approaches when it comes to this type of attack. The “WannaCry” virus, which first hit companies and healthcare services on Friday, has infected some 300,000 computer systems in 150-odd countries. By exploiting a … Continue reading “5 Takeaways From the WannaCry Ransomware Attack”
With Latest Deal, Biogen Bets $120M on Remedy Pharma Stroke Drug
Biogen has acquired an experimental drug for a type of deadly stroke, adding to the belief that the company, under new CEO Michel Vounatsos, will be more aggressive in pursuing deals to stock its pipeline. Biogen (NASDAQ: [[ticker:BIIB]]) is buying glyburide (CIRARA) from New York-based Remedy Pharmaceuticals for $120 million in cash plus potential future … Continue reading “With Latest Deal, Biogen Bets $120M on Remedy Pharma Stroke Drug”
WiseWear, Maker of Iris Apfel Tech Jewelry, Still Testing Med Device
San Antonio—WiseWear has attracted plenty of international attention for its effort to sell a chic wearable device. Vogue, Slate, and InStyle, among other publications, wrote about the company’s Internet-connected jewelry in 2016 after WiseWear began working with a team of prominent designers, including documentary subject Iris Apfel, to bring a fashionable aesthetic to the tech … Continue reading “WiseWear, Maker of Iris Apfel Tech Jewelry, Still Testing Med Device”
Amid Comey Furor, Companies React to Trump’s Cybersecurity Order
On a day dominated by news about President Trump’s firing of FBI director James Comey, and its impact on the ongoing investigation of Russian hacking of the 2016 presidential election, two significant developments for the cybersecurity industry also emerged Thursday. First, President Trump signed an executive order laying out plans to shore up data security … Continue reading “Amid Comey Furor, Companies React to Trump’s Cybersecurity Order”
Bio Roundup: Big Apple Mo’, Checkpoint Yes and No, CAR-T Death & More
“New York, New York, it’s a hell of a town. The Bronx is up, but we’re Brooklyn down.” For all you old-school Brooklyn swingers out there, we’ll take a short break from the madness in the nation’s capital and start our roundup in the greatest city in the world. You might disagree if you’ve got … Continue reading “Bio Roundup: Big Apple Mo’, Checkpoint Yes and No, CAR-T Death & More”
Merck Immunotherapy Drug Notches Another FDA Win in Lung Cancer
The FDA has approved use of a Merck drug in combination with chemotherapy as a first-line treatment for the most common type of lung cancer. The FDA approval for (NYSE: [[ticker:MRK]]) pembrozlizumab (Keytruda) to treat metastatic nonsquamous non-small cell lung cancer widens the use of the immunotherapy. Last year, the FDA approved it for lung … Continue reading “Merck Immunotherapy Drug Notches Another FDA Win in Lung Cancer”
Stalled or Rising Momentum? New York Wrestles With Its Biotech Future
[Updated, 6:25 a.m. ET, see below] New York City and state governments have finally put big dollars behind local development of the life sciences industry. But lots of cash is no guarantee of success, as panelists kicking off the annual NewYorkBio conference made clear Tuesday. “The question is, where are we as an industry, and … Continue reading “Stalled or Rising Momentum? New York Wrestles With Its Biotech Future”
Why You’re Wiser with an Adviser
Long before Silicon Valley and tech accelerators, the Beatles knew a thing or two about finding the right startup adviser. Their 1965 hit said it all: “Help! I need somebody. Help! Not just anybody. Help! You know I need someone. He-el-elp…” Every founder, no matter how sharp or motivated, needs some help, and a great … Continue reading “Why You’re Wiser with an Adviser”
Senate Vote Confirms Scott Gottlieb for FDA Commissioner
Scott Gottlieb will be the new FDA commissioner. The U.S. Senate voted 57 to 42 on Tuesday to confirm Gottlieb, a physician and venture capitalist, to lead the regulatory agency. He succeeds former FDA commissioner Robert Califf, who stepped down in January after President Donald Trump took office. Gottlieb is already familiar with the agency … Continue reading “Senate Vote Confirms Scott Gottlieb for FDA Commissioner”
Analysts Expect Payer Pushback as PTC Sets $35K Price For Duchenne Drug
[Updated, 5/9/17, 9:11 am. See below.] When Marathon Pharmaceuticals priced deflazacort (Emflaza), a steroid for Duchenne muscular dystrophy, at $89,000 per year, the prohibitive cost sparked such outrage that Marathon never launched the drug, but instead sold its rights to PTC Therapeutics. Since that time, South Plainfield, NJ-based PTC (NASDAQ: [[ticker:PTCT]]) has been planning its … Continue reading “Analysts Expect Payer Pushback as PTC Sets $35K Price For Duchenne Drug”
Kite CAR-T Death: An Unwelcome Mystery as FDA Mulls Approval
In a lengthy interview in January, Kite Pharma CEO Arie Belldegrun was adamant that his company’s experimental cell therapy was different from one competitor, Juno Therapeutics, because unlike with Juno, no Kite patient had died from cerebral edema, or massive swelling in the brain. Belldegrun can no longer make that claim. Kite (NASDAQ: [[ticker:KITE]]) reported … Continue reading “Kite CAR-T Death: An Unwelcome Mystery as FDA Mulls Approval”
With $145M Buyout, River Vision’s Plan For Stalled Roche Drug Pays Off
A bid by a group of investors to transform a stalled cancer drug into an eye disease treatment has paid off. Horizon Pharma this morning has acquired River Vision Development Corp., a New York entity formed to develop a therapy for an eye condition called Graves’ ophthalmopathy. Horizon (NASDAQ: [[ticker:HZNP]]), an Ireland based firm, is … Continue reading “With $145M Buyout, River Vision’s Plan For Stalled Roche Drug Pays Off”
The Enterprise Bang! Moment
The increasing rate of technology advancement is decreasing the time enterprises have to react to competitive pressures brought about by those same advancements. A Bang! moment arrives when the incumbent can no longer react before they fail in the market. The specific timing is unknowable, but the outcome is assured. Carmen Reinhart and Ken Rogoff, … Continue reading “The Enterprise Bang! Moment”
2017 Weill Cornell Medicine Dean’s Entrepreneurship Lab $50K Biomedical Business Plan Challenge
Watch entrepreneurial scientists pitch their business plans at the inaugural Weill Cornell Medicine Dean’s Entrepreneurship Lab Biomedical Business Plan Challenge! Teams will compete for $50,000 in cash prizes and $35,000 in legal services from Wilson Sonsini Goodrich & Rosati. Awards presented by Dr. Lewis C. Cantley, Meyer Director of the Sandra and Edward Meyer Cancer … Continue reading “2017 Weill Cornell Medicine Dean’s Entrepreneurship Lab $50K Biomedical Business Plan Challenge”
VenBio Settles Immunomedics Litigation, SeaGen Nixes Cancer Drug Deal
A venBio campaign against a drug licensing deal between Immunomedics and Seattle Genetics has unwound the pact altogether. Three months after dealing for rights to an experimental breast cancer therapy from Immunomedics, SeaGen is now walking away due to delays and litigation that venBio, a biotech investment firm, brought against both parties. Meanwhile, Immunomedics (NASDAQ: … Continue reading “VenBio Settles Immunomedics Litigation, SeaGen Nixes Cancer Drug Deal”
Bio Roundup: NIH Precision Boost, AHCA to Senate, New Drugs & More
Two dramatic healthcare stories played out this week. First, to the jubilation of the nation’s science community, Congress proposed to boost National Institutes of Health funding, not slash it as the Trump administration had outlined. Then the patchwork revival of the GOP’s healthcare plan, despite being panned by nearly every major medical group in the … Continue reading “Bio Roundup: NIH Precision Boost, AHCA to Senate, New Drugs & More”
With $75M Haul, Ovid Continues Flurry of Biotech IPOs
The recent biotech IPO surge continues. Ovid Therapeutics raised $75 million in an IPO late Thursday, becoming the fifth life sciences company to hit the Nasdaq in the past two weeks. Ovid (NASDAQ: [[ticker:OVID]]), a New York company developing drugs for rare brain diseases, sold 5 million shares at $15 apiece. Those numbers come in … Continue reading “With $75M Haul, Ovid Continues Flurry of Biotech IPOs”
VC Confidence Holds Steady in Quarterly Survey, But Reasons Change
In a survey of 29 Silicon Valley venture capitalists in December, the VCs mulled whether President-elect Donald Trump would buoy up their investment prospects with lower corporate taxes and government regulations, or worsen conditions by heightening global political instability and raising the risk of a major military conflict or economic downturn. That Q4 2016 edition … Continue reading “VC Confidence Holds Steady in Quarterly Survey, But Reasons Change”
If Budget Holds, NIH Precision Study Could Be Flush As Volunteers Arrive
Until this week, many U.S. government science agencies and programs seemed destined for a big haircut, plus the loss of a limb or two. That included the Precision Medicine Initiative, an ambitious long-term study with the goal of recruiting 1 million Americans to volunteer health data. But in staving off a government shutdown, Congress pushed … Continue reading “If Budget Holds, NIH Precision Study Could Be Flush As Volunteers Arrive”
Cazalot to Lead Techstars Boston, Wants to Energize Local Community
The first thing to know about Clément Cazalot is that he is French. The second thing is that he co-owns a new French restaurant in Boston’s South End, called Frenchie. It has a killer wine list and excellent food, based on a recent visit. The tech startup community will also want to know that Cazalot … Continue reading “Cazalot to Lead Techstars Boston, Wants to Energize Local Community”
Pieris Adds Another Partner, Gets $45M in AstraZeneca Lung Drug Deal
A protein drug developer with roots in Germany continues to grow in Boston, MA, with the help of another partnership. Pieris Pharmaceuticals today cut a deal with AstraZeneca to develop a group of drugs for respiratory diseases, adding a new name to an already wide list of pharmaceutical partners. Pieris (NASDAQ: [[ticker:PIRS]]) gets $45 million … Continue reading “Pieris Adds Another Partner, Gets $45M in AstraZeneca Lung Drug Deal”
Friend & Flowers Return With Wasabi, Take on Amazon in “Hot Storage”
In the market for cloud storage and related tech services, there is Amazon—and then there’s everybody else. The Seattle-based company’s (NASDAQ: [[ticker:AMZN]]) Amazon Web Services business generated $12.2 billion in sales last year, and it controls an estimated 33 percent of the global market for cloud infrastructure services, according to a recent analysis by Synergy … Continue reading “Friend & Flowers Return With Wasabi, Take on Amazon in “Hot Storage””
Analysis: Trump’s First 100 Days Through the Tech Industry Lens
Donald Trump spent his 100th day in office in ways that would appeal to his working class base—holding a campaign-style rally in Harrisburg, PA, where he confirmed his campaign commitment to controlling immigration. Trump also signed an executive order to create a White House office of trade and manufacturing policy, which aims to protect American … Continue reading “Analysis: Trump’s First 100 Days Through the Tech Industry Lens”
FDA Wants More Safety Info on Psych Drug, Intra-Cellular Shares Drop
Despite mixed data from clinical trials, Intra-Cellular Therapies plans to seek FDA approval for an experimental schizophrenia drug, its only therapy even close to market. But that plan got more difficult this morning as the company revealed the FDA has some questions about the drug’s safety, causing shares to slide to their lowest levels since … Continue reading “FDA Wants More Safety Info on Psych Drug, Intra-Cellular Shares Drop”
The State of Cybersecurity Insurance Today
Cyber incidents are considered the No. 1 emerging risk for enterprises long-term. No surprise, then, that cybersecurity insurance policy premiums are approaching $2.75 billion a year. Some experts believe this figure will grow to roughly $20 billion by 2025. For scores of insurance companies cashing in on the booming corporate cybersecurity insurance market, it’s a … Continue reading “The State of Cybersecurity Insurance Today”
Entrepreneurs, VCs, Bio Builders Talk Seizing Momentum in NY on May 31
It’s going to take more than just a government initiative for New York to forge an identity as a top commercial hub for life sciences. It’s going to take great ideas, entrepreneurs taking risks, developers making space their companies can grow in, and investors gambling on their success. Some of these things are already happening, … Continue reading “Entrepreneurs, VCs, Bio Builders Talk Seizing Momentum in NY on May 31”
Zymeworks Bags $58M in IPO to Bankroll Cancer Drug Trials
Zymeworks is the latest biotech to go public, raising $58.5 million through a stock offering that the company says will finance early stage clinical trials for its two lead cancer drug candidates. Vancouver, BC-based Zymeworks sold 4.5 million shares at $13 apiece, coming in at the low end of the $13 to $16 per range … Continue reading “Zymeworks Bags $58M in IPO to Bankroll Cancer Drug Trials”
Bio Roundup: Trumpcare Flails, Spinraza Sales, Batten OK & More
To judge the first 100 days of a new administration is, as many pundits have pointed out, an odd vestige of history, more convenient than significant. Which is why we’ll start this week’s roundup with our 99-day evaluation of the Trump administration—at least when it comes to healthcare and the life sciences. In healthcare, nothing … Continue reading “Bio Roundup: Trumpcare Flails, Spinraza Sales, Batten OK & More”
Gottlieb’s FDA Nomination Gets Committee Nod, Advances to Senate
Scott Gottlieb’s nomination to the top post of the FDA is on its way to the full U.S. Senate. The Senate Health, Education, Labor & Pensions Committee voted 14-9 on Thursday to approve Gottlieb’s nomination to become FDA commissioner. All of the Republicans on the committee voted for Gottlieb, along with two Democrats, Sen. Sheldon … Continue reading “Gottlieb’s FDA Nomination Gets Committee Nod, Advances to Senate”
Duchenne, SMA, and the Rise of Patient Power at “What’s Hot” on May 11
Two of the most noteworthy drugs to win FDA approval over the past year, eteplirsen (Exondys 51) and nusinersen (Spinraza), have something important in common: Patient groups have played a critical role in both of their stories. Eteplirsen, Sarepta Therapeutics’ (NASDAQ: [[ticker:SRPT]]) Duchenne muscular dystrophy drug, was a test case for the increasing power of … Continue reading “Duchenne, SMA, and the Rise of Patient Power at “What’s Hot” on May 11”
Barclays Techstars’ Jon Zanoff on Startups, Banks, and Fintech’s Future
Jon Zanoff is ready for a new nickname. Dubbed “The Mayor of Fintech,” Zanoff, the newly appointed managing director of the Barclays Techstars accelerator in New York, has certainly been entrenched in the financial technology industry long enough to deserve the title. For the past five years, he’s presided over Empire Startups, a New York-based … Continue reading “Barclays Techstars’ Jon Zanoff on Startups, Banks, and Fintech’s Future”
The Medicines Co., Alnylam Take Plunge, Outline Big Test For Heart Drug
The Medicines Co. and Alnylam Pharmaceuticals have come to a deal with the FDA on the big Phase 3 test for their RNA-based cholesterol-lowering drug, inclisiran, a potentially longer-lasting alternative to a new group of drugs called PCSK9 inhibitors. Medicines Co. (NASDAQ: [[ticker:MDCO]]) and partner Alnylam (NASDAQ: [[ticker:ALNY]]) will collectively enroll 3,000 patients with atherosclerotic … Continue reading “The Medicines Co., Alnylam Take Plunge, Outline Big Test For Heart Drug”