To hear some people talk, you’d think the age of bipartisan action in Congress was a lost phenomenon of the distant past. But it’s not so, at least when it comes to certain issues. And no one knows it better than the big Silicon Valley tech companies that are the recent targets of proposed bipartisan … Continue reading “Dems and GOP Senators Unite Versus Big Tech on Data Privacy Bills”
Category: New York
Review: Inside the House of Lies at Theranos
Youth. Charm. Fearlessness. Ruthless focus. These can be positive attributes in an entrepreneur, but in a more rational world, technology investors wouldn’t overvalue them. Risk capital would be allocated based mostly on evidence, data, progress towards milestones—in short, on proof. In the real world, of course, proof is hard to come by. Hope, avarice, or … Continue reading “Review: Inside the House of Lies at Theranos”
Bio Roundup: Array Bio Acquired, IPO Spree, Sanofi’s Job Cuts & More
[Corrected 6/24/19, 12:08 p.m. See below.] Cancer remains one of the hottest areas for pharma deals and this week saw a big one: Pfizer’s proposed $11.4 billion buyout of Array Biopharma. The announcement comes less than a month after Boulder, CO-based Array announced positive data from a pivotal study of its combination drug in colorectal … Continue reading “Bio Roundup: Array Bio Acquired, IPO Spree, Sanofi’s Job Cuts & More”
Four More Through the IPO Door as Life Science Firms Raise $465M
It’s been a strong year for biotech IPOs and Wednesday shaped up to be a particularly busy day as four life science firms debuted on the public markets. So far this year, 72 companies have gone public, according to IPO research firm Renaissance Capital. That total is down 20 percent compared to the same period … Continue reading “Four More Through the IPO Door as Life Science Firms Raise $465M”
With $45M Nurix Deal, Gilead Enters Crowded Protein Degradation Field
Gilead Sciences is turning to Nurix Therapeutics in an effort to discover new drugs that harness the cellular machinery our bodies use to dispose of damaged or harmful proteins. Foster City, CA-based Gilead (NASDAQ: [[ticker:GILD]]) will pay Nurix $45 million up front to kickstart the alliance, through which the companies aim to develop drugs for … Continue reading “With $45M Nurix Deal, Gilead Enters Crowded Protein Degradation Field”
Big Business Has Your Data, and Osano Is Rating How They Handle It
Austin—Anyone who has an Evite account may be a bit wary right now: The company confirmed this month that personal data of some of its users, including names, dates of birth, and mailing addresses, were stolen. Some folks may have changed their password (recommended!), while others may have deleted their accounts to say good riddance. … Continue reading “Big Business Has Your Data, and Osano Is Rating How They Handle It”
Colorectal Cancer Data Spurs Pfizer to Pay $11.4B for Array Bio
[Updated 11:02 a.m. See below.] Array BioPharma touted data less than a month ago that could shift the treatment landscape for some patients with metastatic colorectal cancer. The data caught the eye of Pfizer, which just agreed this morning to buy the Boulder, CO, cancer drug maker for $11.4 billion. Pfizer (NYSE: [[ticker:PFE]]) will pay … Continue reading “Colorectal Cancer Data Spurs Pfizer to Pay $11.4B for Array Bio”
Why My Company Chose Boston, Not Silicon Valley, for Its US HQ
No matter where you are in the world, if you want your company to be a global leader in software, you have to take on the US market. As the co-founder of a French tech startup, I’ve always known that if we wanted to be successful, we would eventually need to establish a presence in … Continue reading “Why My Company Chose Boston, Not Silicon Valley, for Its US HQ”
Flatiron Taps Vasoncelles of Unum Therapeutics for Chief Medical Officer
Michael Vasoncelles has joined Flatiron Health as chief medical officer, the same position he held at Unum Therapeutics. Vasoncelles’ experience also includes posts at Takeda Pharmaceutical (NYSE: [[ticker:TAK]]), Genzyme, and Sanofi (NYSE: [[ticker:SNY]]). At New York-based Flatiron, Vasoncelles will succeed Amy Abernethy, who left earlier this year to join the FDA as principal deputy commissioner. … Continue reading “Flatiron Taps Vasoncelles of Unum Therapeutics for Chief Medical Officer”
Bio Roundup: Roche-Spark Drags On, GSK Taps CRISPR, Diabetes News & More
Is one of the bigger biopharma acquisitions of the year in trouble? This past week, antitrust regulators once again delayed Roche’s planned $4.8 billion buyout of gene therapy developer Spark Therapeutics (NASDAQ: [[ticker:ONCE]]). The US Federal Trade Commission wants yet more information about the buyout, and overseas, the UK Competition and Markets Authority opened a … Continue reading “Bio Roundup: Roche-Spark Drags On, GSK Taps CRISPR, Diabetes News & More”
Gener8tor to Make Startups From Scratch in Revamped Milwaukee Program
[Updated 6/14/19, 10:25 am CT. See below.] Gener8tor, a Wisconsin-based organization with a growing network of startup accelerators across the Midwest, is shaking up the format of its flagship Milwaukee program in a bid to catalyze entrepreneurship among locals. Instead of seeking applications from existing startups located around the world, this fall’s Gener8tor program in … Continue reading “Gener8tor to Make Startups From Scratch in Revamped Milwaukee Program”
VidMob Adds $25M Led by Austin-Based BuildGroup for Adtech Software
You’ve probably seen a VidMob advertisement, or at least an ad the company had some influence on, and not known it. The New York-based startup has helped make or optimize digital ads created for smartphones for brands ranging from Netflix (NASDAQ: [[ticker:NFLX]]) to Arby’s (“We Have the Meats!”). The company has software that lets the … Continue reading “VidMob Adds $25M Led by Austin-Based BuildGroup for Adtech Software”
Can AI Tools, $76M Lead BlackThorn to Targeted Psych Drugs?
It’s notoriously tough for experimental psychiatric drugs to succeed in clinical tests. BlackThorn Therapeutics wants to show that an AI-driven, precision approach can make it easier, and today it’s added another $76 million to get the chance to prove it. The new Series B round will give San Francisco-based BlackThorn—a startup spun out of the … Continue reading “Can AI Tools, $76M Lead BlackThorn to Targeted Psych Drugs?”
Your Tech Startup Is Probably Not Ready to Raise Money
I know, I don’t even know you. Here’s the thing. Let’s say Melanie is an early-stage investor. If she placed a bet blindly for every startup that thinks they’re ready to raise, her chips would fall on the “not ready to raise” words written in fancy script on the soft green felt of the betting … Continue reading “Your Tech Startup Is Probably Not Ready to Raise Money”
IPO Scorecard: CrowdStrike Gains 70 Percent on First Trading Day
Cybersecurity firm CrowdStrike delivered the kind of market debut this week that was an unfulfilled dream for the much-anticipated IPOs of Uber and Lyft earlier this year. Sunnyvale, CA-based CrowdStrike (NASDAQ: [[ticker:CRWD]]) priced 18 million shares of common stock at $34 on Tuesday. Trading began at $63.50 Wednesday, and reached a near-doubling of the company’s … Continue reading “IPO Scorecard: CrowdStrike Gains 70 Percent on First Trading Day”
CymaBay Therapeutics Stumbles in NASH Race, Shares Fall
One of the entrants in the ultra-competitive race to develop treatments for the fatty liver disease known nonalcoholic steatohepatitis (NASH) suffered a setback in clinical testing today, but the company, Cymabay Therapeutics, still believes its drug could show promise as the study continues. Cymabay (NASDAQ: [[ticker:CBAY]]), of Newark, CA, reported interim results from a Phase … Continue reading “CymaBay Therapeutics Stumbles in NASH Race, Shares Fall”
Merck Bags Tilos, Adding an Immunotherapy Booster to Its Arsenal
Cancer immunotherapy leader Merck continued to roll up oncology assets with a deal this morning to acquire privately held Tilos Therapeutics. Merck (NYSE: [[ticker:MRK]]) didn’t disclose how much it will pay up front for Tilos, a Lexington, MA, startup developing drugs for cancer, fibrosis, and autoimmune diseases. But the overall payout could reach $773 million … Continue reading “Merck Bags Tilos, Adding an Immunotherapy Booster to Its Arsenal”
3 Tips to Boost Security, Trust With Increasingly Remote Workforce
Employers are increasingly offering remote work options as a differentiator to attract top talent in today’s competitive hiring market. And, with modern technology at their fingertips, employees have come to expect a seamless working experience whether they’re home, in the office, or on the road. These new expectations, coupled with the increase of contract and … Continue reading “3 Tips to Boost Security, Trust With Increasingly Remote Workforce”
Bio Roundup: ASCO Wrap, Bluebird’s EU Tap, CRISPR Baby Risk & More
Welcome to conference week. That’s not an official moniker, but is there any busier time on the biopharma calendar? As the American Society of Clinical Oncology meeting wrapped up in Chicago, the annual BIO conference kicked off in Philadelphia, and a deep dive into diabetes begins today in San Francisco. With half the biopharma world, … Continue reading “Bio Roundup: ASCO Wrap, Bluebird’s EU Tap, CRISPR Baby Risk & More”
Immunovant Hires Salzmann Away From Eli Lilly for CEO Post
Veteran Eli Lilly (NYSE: [[ticker:LLY]]) executive Pete Salzmann has been appointed CEO of Immunovant. Salzmann has spent 20 years at Lilly, most recently as global clinical development leader for baricitinib (Olumiant), the rheumatoid arthritis drug that won FDA approval last year. Immunovant, which splits its operations between New York and Basel, Switzerland, is a subsidiary … Continue reading “Immunovant Hires Salzmann Away From Eli Lilly for CEO Post”
Cerf, Kahn, Perlman, Hillis & More at Net@50: Get Tix to Historic Event
How did the internet arise to change the world—and where is it heading? Given the state of technology and society, what are the best ways to curtail the spread of misinformation (among other challenges) and the harm it can bring? At the World Frontiers Forum and Xconomy, we can’t promise to cover everything, but we … Continue reading “Cerf, Kahn, Perlman, Hillis & More at Net@50: Get Tix to Historic Event”
Novartis’s Hirawat to Join Bristol-Myers as Chief Medical Officer
Samit Hirawat is joining Bristol-Myers Squibb (NYSE: [[ticker:BMY]]) to become chief medical officer, global drug development. Hirawat was most recently executive vice president and head of oncology development at Novartis (NYSE: [[ticker:NVS]]). He’ll start his new role after Bristol completes its acquisition of Celgene (NASDAQ: [[ticker:CELG]]). In other C-suite moves, Bristol said that Tom Lynch, … Continue reading “Novartis’s Hirawat to Join Bristol-Myers as Chief Medical Officer”
Carmera Scores Lear Partnership, Adds Ex-Waymo Exec to Advisory Team
The month of May was big for Carmera, a startup in New York City developing high-definition maps for use in autonomous vehicles. The company rolled out a new development partnership with auto supplier Lear, and it landed a big name advisor and investor with Shaun Stewart, the former chief business officer of self-driving technology business … Continue reading “Carmera Scores Lear Partnership, Adds Ex-Waymo Exec to Advisory Team”
ASCO 2019: The Long Game, Targeted Pills, First-Ever Buzz & More
The American Society of Clinical Oncology meeting in Chicago has wrapped up for another year. Last week, we featured two stories that you wouldn’t find at the ASCO frenzy: Immunotherapy’s lack of progress in treating breast cancer, and one woman’s risky bet of tens of millions of dollars from her personal fortune to speed drug … Continue reading “ASCO 2019: The Long Game, Targeted Pills, First-Ever Buzz & More”
Apple Touts New Privacy Moves as Antitrust Probes Loom for Big Tech
Both the House leadership and the Trump administration are preparing to challenge the power of Google, Facebook, and other big tech companies by launching antitrust investigations into their allegedly anticompetitive business practices, as the Washington Post detailed it this week. But the growing concern about the pervasive control of tech giants in arenas such as … Continue reading “Apple Touts New Privacy Moves as Antitrust Probes Loom for Big Tech”
Eli Lilly’s Approved Migraine Drug Wins FDA OK for Cluster Headache
An Eli Lilly migraine drug that was approved last fall now has the regulatory nod to treat a rarer form of headache that tends to occur in clusters. The FDA on Tuesday approved the Lilly (NYSE: [[ticker:LLY]]) drug galcanezumab (Emgality) for episodic cluster headaches, which patients experience as one to four headaches per day, each … Continue reading “Eli Lilly’s Approved Migraine Drug Wins FDA OK for Cluster Headache”
Bayer and Arvinas Join Forces in $115M Pharma & Ag Research Alliance
Bayer is committing $115 million to Arvinas in a partnership focused on turning the biotech’s technology for getting rid of harmful proteins into new products for both human health and agriculture. According to the deal announced Tuesday, the German life sciences and agtech giant will pay New Haven, CT-based Arvinas (NASDAQ: [[ticker:ARVN]]) more than $60 … Continue reading “Bayer and Arvinas Join Forces in $115M Pharma & Ag Research Alliance”
Study: Gene Edits in CRISPR Babies Could Boost Risk of Earlier Death
The Chinese scientist He Jiankui, who revealed last fall that he used CRISPR gene editing to try to make twin newborn girls immune to HIV infection, might have also given them a higher risk of death. That’s according to a new study from University of California, Berkeley data scientists who analyzed the records of more … Continue reading “Study: Gene Edits in CRISPR Babies Could Boost Risk of Earlier Death”
Bio Roundup: Opioids in Court, IPO Parade, Brain Cancer Bet & More
[Corrected 5/31/19, 8:48 am ET. See below.] Pharmaceutical companies that make or market opioids have found themselves in legal hot water, and much of the heat is coming from Oklahoma. This week, a trial began litigating Johnson & Johnson’s responsibility for opioid addiction in the Sooner State. Johnson & Johnson (NYSE: [[ticker:JNJ]]) entered the Norman, … Continue reading “Bio Roundup: Opioids in Court, IPO Parade, Brain Cancer Bet & More”
Quantum Computing 101: Brilliant, Google, Microsoft Training Workers
From Microsoft and IBM to Alphabet’s unit X and Canada’s D-Wave Systems, companies are racing to build powerful quantum computers that may solve problems beyond the capacity of the most sophisticated conventional processors, and do it much faster. It’ll be some years before such uber-computers are robust and reliable enough for broad commercial use. But … Continue reading “Quantum Computing 101: Brilliant, Google, Microsoft Training Workers”
Agenda Posted for Net@50 on July 16 at MIT Media Lab
Come celebrate milestones the internet has made over the past 50 years at a special event called Net@50 on July 16 in Cambridge, MA, organized by the World Frontiers Forum and Xconomy. An afternoon forum at the MIT Media Lab will explore the big issues and challenges surrounding the internet. And a gala dinner at … Continue reading “Agenda Posted for Net@50 on July 16 at MIT Media Lab”
Can Tiny Drug Doses (and One Woman’s Fortune) Fight the Most Vicious Cancer?
When the brain goes bad, modern medicine is often powerless to help. That’s the case for Alzheimer’s disease, where drug after drug has failed, and the only approved treatments are marginally helpful at best. The same seems increasingly clear for the most common and aggressive type of brain cancer, glioblastoma multiforme. Its origins are mysterious, … Continue reading “Can Tiny Drug Doses (and One Woman’s Fortune) Fight the Most Vicious Cancer?”
Recorded Future Bought for $780M in Latest Boston Cybersecurity Deal
Recorded Future is being acquired by tech investor Insight Partners in a $780 million all-cash deal, the cyber-threat intelligence company announced this morning. Insight Partners, a New York-based venture capital and private equity firm, led a $25 million round of funding that Recorded Future raised in October 2017. At the time, the cash put the … Continue reading “Recorded Future Bought for $780M in Latest Boston Cybersecurity Deal”
Immunotherapy Is Now Here For Breast Cancer. What Are Its Prospects?
Drugs that rev up a patient’s immune system have changed how we treat cancers of the skin, lung, and more, offering people whose tumors have spread a chance to live longer than ever thought possible. But until this year, the field had nothing for breast cancer, which kills more women than any other cancer type. … Continue reading “Immunotherapy Is Now Here For Breast Cancer. What Are Its Prospects?”
The Biotech IPO Queue Grows Longer as Five More Companies File
The biotech IPO train is rolling onward, with five more companies climbing aboard. The companies, ranging from a late-stage firm looking to finance Phase 3 studies to preclinical companies laying the groundwork for their first drug trials with human subjects, submitted their paperwork to the SEC late Friday—just before the start of Memorial Day weekend. Here’s … Continue reading “The Biotech IPO Queue Grows Longer as Five More Companies File”
Second US Gene Therapy, Approved for Rare Muscle Disease, to Cost $2M
The FDA today has made Zolgensma, a Novartis treatment for the rare genetic disease spinal muscular atrophy, the second approved gene therapy in the US. The news marks a milestone for SMA patients, who have only one other approved medicine available. But it comes with a cost: At $2.125 million, Zolgensma’s price tag creates a … Continue reading “Second US Gene Therapy, Approved for Rare Muscle Disease, to Cost $2M”
Bio Roundup: Zolgensma Watch, Brain Cancer Blues, Peloton Payout & More
Patients, doctors, family members, and drug-price watchdogs continued to wait for the expected approval of Zolgensma, a Novartis (NYSE: [[ticker:NVS]]) gene therapy for the rare inherited disease spinal muscular atrophy. Originally developed at a children’s hospital in Ohio, Zolgensma will be a litmus test for the nascent field. If approved this week or next, it … Continue reading “Bio Roundup: Zolgensma Watch, Brain Cancer Blues, Peloton Payout & More”
Nektar Forms New Company Inheris to Take Reins on Pain, CNS Drugs
If Nektar Therapeutics wins FDA approval this summer for an opioid painkiller it designed to be less addictive than other opioids, another company will usher the new product onto the market. San Francisco-based Nektar (NASDAQ: [[ticker:NKTR]]) announced Thursday that it formed Inheris Biopharma to take the reins on pain drug NKTR-181, as well as several … Continue reading “Nektar Forms New Company Inheris to Take Reins on Pain, CNS Drugs”
Agrilyst Rebrands as Artemis, Lands $8M for Indoor Farming Software
Agrilyst, an agtech startup that has commercialized software that helps manage indoor farms and greenhouses, is unveiling a new name and additional capital. The company is now called Artemis and it has raised an $8 million Series A round of funding. Astanor Ventures and Talis Capital co-led the investment announced Wednesday. Other investors include New … Continue reading “Agrilyst Rebrands as Artemis, Lands $8M for Indoor Farming Software”
With $120M, AlloVir Faces Big Test of Cell Therapy to Fight Infection
In healthy people, viruses are kept in check by the immune system. But for immunocompromised patients, such as those undergoing transplant procedures, a viral infection is potentially deadly. AlloVir is developing a cell therapy intended to control infections while a patient’s immune system recovers. Houston-based AlloVir is preparing its lead candidate for late-stage testing and … Continue reading “With $120M, AlloVir Faces Big Test of Cell Therapy to Fight Infection”
AI Startup Clinc Snags $52M Series B to Expand Offices, Markets
Ann Arbor, MI-based startup Clinc, which is focused on developing conversational artificial intelligence software for use in chatbots, has raised $52 million in a Series B round, the company announced this week. The round was led by Insight Partners, with participation from DFJ Growth, Drive Capital, and Hyde Park Venture Partners. As part of the … Continue reading “AI Startup Clinc Snags $52M Series B to Expand Offices, Markets”
Sebastian Thrun and Udacity Launch New Self-Driving Nanodegree
[Corrected 5/21/19, 11:04 am. See below.] Sebastian Thrun first made his mark on autonomous vehicle development at the dawn of that industry, when he led a Stanford team whose robot car Stanley won the $2 million DARPA Grand Challenge in 2005 by racing driverless through the Mojave Desert for 132 miles. These days, Thrun seems … Continue reading “Sebastian Thrun and Udacity Launch New Self-Driving Nanodegree”
Merck Preempts Peloton Therapeutics IPO With $1B Acquisition Deal
Merck has reached a deal to acquire Peloton Therapeutics, and its Phase 3-ready kidney cancer drug, for $1.05 billion. Under the agreement announced Tuesday, Merck (NYSE: [[ticker:MRK]]) will pay the sum in cash up front. If Peloton’s drug candidates reach the market and hit sales targets, shareholders of privately held Pelton could gain up to … Continue reading “Merck Preempts Peloton Therapeutics IPO With $1B Acquisition Deal”
MedCo Touts New Data for Long-Lasting Heart Drug as Reckoning Looms
The Medicines Co. and partner Alnylam Pharmaceuticals have presented new evidence supporting the long-term use of their RNA-based cholesterol lowering therapy inclisiran, which is meant to be a longer lasting alternative to a new crop of heart drugs called PCSK9 inhibitors. At a medical meeting in Miami, Medicines Co. (NASDAQ: [[ticker:MDCO]]) reported that 290 patients … Continue reading “MedCo Touts New Data for Long-Lasting Heart Drug as Reckoning Looms”
Bio Roundup: Generic Drugs Graft, ASCO Ahead, ElevateBio Rises & More
Generic drugs are supposed to give consumers more choices and a counterweight to more costly branded medications. During his tenure as FDA commissioner, Scott Gottlieb often spoke about generics as a market force that could help tame climbing drug prices. But such tools only work when companies play fair. A lawsuit is now claiming that … Continue reading “Bio Roundup: Generic Drugs Graft, ASCO Ahead, ElevateBio Rises & More”
ASCO Abstracts: Breast Cancer, Precision Treatments in the Spotlight
The world’s biggest annual cancer conference is just around the corner. Data presented at the American Society of Clinical Oncology meeting each year can change medical practice and make or break companies whose drugs are under the microscope. That’s what makes even the “abstracts,” or snippets of data revealed a few weeks before the meeting, … Continue reading “ASCO Abstracts: Breast Cancer, Precision Treatments in the Spotlight”
BioClarity, Maker of “Clean, Green” Skincare Products, Raises $13M
BioClarity, which sells plant-based skincare products to online shoppers, announced Wednesday that it has raised a $13 million investment round. The San Diego-based company is part of Adigica Health, an e-commerce company founded in 2016 to develop and market direct-to-consumer healthcare products. Prolog Ventures led the round with a $6 million investment; BioClarity said earlier … Continue reading “BioClarity, Maker of “Clean, Green” Skincare Products, Raises $13M”
Laurie Glimcher To Headline Xconomy Keynote Series in Boston in September
As groundbreaking therapies and diagnostics are coming to market, more patients are benefiting from the promise of precision medicine, but many are not, or aren’t able to access the latest treatments and technologies. What are hospitals and drug and diagnostic developers doing to make sure more cancer patients will go on to lead long, healthy … Continue reading “Laurie Glimcher To Headline Xconomy Keynote Series in Boston in September”
Karat Gets $28M for Software, Team That Assess Job-Seeking Engineers
Karat, a Seattle-based startup that uses a combination of software and a stable of freelance interviewers to help tech companies assess job applicants, announced Wednesday it has raised $28 million in new funding. Tiger Global Management led the Series B funding round, Karat says. Other participating investors included return backers Norwest Venture Partners and 8VC. … Continue reading “Karat Gets $28M for Software, Team That Assess Job-Seeking Engineers”
Endpoint Security Company CrowdStrike Files Publicly for IPO
CrowdStrike, the cybersecurity company that identified the two Russian government-linked hacker groups that invaded the Democratic National Committee (DNC)’s network during the 2016 presidential campaign, filed publicly for an initial public offering on Tuesday. Sunnyvale, CA-based CrowdStrike sells cloud-based security software and related services by subscription to businesses. Founded in 2011, the company adapted traditional … Continue reading “Endpoint Security Company CrowdStrike Files Publicly for IPO”