News may be coming out of Washington, DC, at a breakneck pace, but concrete plans regarding the future of the nation’s healthcare system, the FDA, and the pharmaceutical industry have been much slower to materialize. The consternation about President Donald Trump’s coming pick for FDA commissioner was palpable this week at the BIO CEO & … Continue reading “Bio Roundup: CRISPR Drama, Marathon and PhRMA, the Price of Vision & More”
Category: Raleigh-Durham
With “Go,” Amazon Identifies Another Job It Can Do Better
Early last year, I “fired” talk radio along with NPR’s morning and evening editions. That same day, I “hired” Amazon Audible as my commute companion. It wasn’t a difficult decision. Audible is far better than its predecessors at doing the job I need done as I travel to and from my office – provide on-demand … Continue reading “With “Go,” Amazon Identifies Another Job It Can Do Better”
Fintech VC Backing Dipped 13 Percent in 2016, Mirroring Rest of Tech
The final numbers on 2016 fintech funding deals are in from New York-based research firm and investment database CB Insights, and venture capitalists seem to be cooling on the industry. According to a report released today, financial technology companies around the world attracted $12.7 billion in venture capital across 836 investments last year. That is … Continue reading “Fintech VC Backing Dipped 13 Percent in 2016, Mirroring Rest of Tech”
Dear Tom Price: Bundled Payments Help Patients and Reduce Costs
With all the talk of repealing Barack Obama’s Affordable Care Act (ACA), people have been taking a closer look at what the law has done for our healthcare system. It turns out the ACA is about a lot more than the problematic healthcare marketplaces. There’s the extension of parental insurance coverage to age 26 and … Continue reading “Dear Tom Price: Bundled Payments Help Patients and Reduce Costs”
Senate Confirms Price for HHS, But Stock Deals Still Raise Questions
The Senate confirmed Tom Price as Secretary of the U.S. Department of Health and Human Services early Friday morning by a 52-47 vote that, as expected, fell largely on party lines. Price is an orthopedic surgeon by training who has been a member of Georgia’s congressional delegation since 2004. He will now oversee a department that … Continue reading “Senate Confirms Price for HHS, But Stock Deals Still Raise Questions”
Bio Roundup: Travel Ban Block, Gilead Shock, Dean Kamen Talk & More
The biotech community pushed back against President Donald Trump’s order to block travelers and refugees this week, and not much later, a federal court did, too. Patient advocates have scored big wins with recent approvals of rare disease treatments, but they’re not as happy with insurers’ coverage decisions or with Trump’s promises of massive FDA … Continue reading “Bio Roundup: Travel Ban Block, Gilead Shock, Dean Kamen Talk & More”
Often Advocates Of Faster FDA, Patient Groups Wary Of Trump Deregulation
In the biomedical world, perhaps the biggest question looming over President Donald Trump’s upcoming pick for Food and Drug Administration commissioner is how drastically that person will help roll back FDA regulations. Trump said at last week’s meeting in Washington D.C., with pharmaceutical executives that he wanted to slash FDA rules by 75 to 80 … Continue reading “Often Advocates Of Faster FDA, Patient Groups Wary Of Trump Deregulation”
San Francisco Appeals Court Upholds Stay on Trump’s Travel Ban—For Now
The Trump administration’s travel ban will remain on a temporary hold under an order issued today by a federal appeals court in San Francisco, which held that the government had failed to make its case for lifting a stay won through a court challenge by the state of Washington. That means that for the time … Continue reading “San Francisco Appeals Court Upholds Stay on Trump’s Travel Ban—For Now”
Xconomy Is Growing: We Need Great Salespeople in SF, Texas, and NY
Since Xconomy’s founding nearly a decade ago, we have grown from a single bureau in Boston to having editors covering 11 innovation clusters around the United States. And over this time, we have cultivated a reputation for outstanding news coverage and events across high-tech business sectors—from information technology to life sciences and beyond. In the … Continue reading “Xconomy Is Growing: We Need Great Salespeople in SF, Texas, and NY”
Bayer Enlists Trana Discovery to Find New Fungicides for Field Crops
When disease decimated Ireland’s potatoes in 1845, farmers were at a loss to explain what caused their staple crop to rot in the fields. The blight continued in successive growing seasons and by 1851, more than one million deaths were attributed to what came to be known as the “Great Famine.” Fungicides can now prevent … Continue reading “Bayer Enlists Trana Discovery to Find New Fungicides for Field Crops”
Trump’s Immigration Policies Threaten to Thwart Economic Growth
For the entire staff at Global Detroit, the Executive Orders from President Trump on immigration, refugees, the so-called Muslim ban, and the wall have been devastating and deeply distressing. They challenge our sense of American values and history. Beyond our personal and moral reactions, however, the Executive Orders also may have some impact on the … Continue reading “Trump’s Immigration Policies Threaten to Thwart Economic Growth”
Biotech Leaders Sign Letter Condemning Trump’s Travel Ban
The blowback from U.S. business leaders to President Trump’s travel ban continues—today from a throng of biotech executives. This morning, 165 U.S. biotech leaders have signed a letter voicing “deep concern and opposition” to the order, which bars entry to the U.S. to refugees and immigrants from seven Muslim-majority countries. The Jan. 27 order placed … Continue reading “Biotech Leaders Sign Letter Condemning Trump’s Travel Ban”
Kentucky Biotech CEO’s Message For McConnell: I’ll Be Muslim, Too
President Trump’s order to bar refugees and immigrants from seven Muslim-majority countries is on temporary hold, and a court hearing later today could eventually force a ruling by the U.S. Supreme Court. One of the latest biotech executives to speak out against the ban is in the backyard of Mitch McConnell (R-KY), the top Republican … Continue reading “Kentucky Biotech CEO’s Message For McConnell: I’ll Be Muslim, Too”
Bio Roundup: Travel Ban, Pharma in DC, Biogen Splits, PCSK9 Wins
Folks had just clocked out last Friday when the Trump Administration announced a travel ban that threw airports around the country into chaos. That announcement set the tone for this week in life sciences. Many in biopharma blasted Trump’s order and tried to grapple with its implications. At the same time, a handful of the … Continue reading “Bio Roundup: Travel Ban, Pharma in DC, Biogen Splits, PCSK9 Wins”
Perceivant Using Edtech to Bring Health and Wellness to College Kids
In 2012, after Brian Rowe sold the analytics company he co-owned, iGoDigital, to ExactTarget for $21 million, he knew he wanted to move on to a new adventure in the startup realm. He just wasn’t sure what it would be. “I wanted to do something where I could use my strong analytics background, but I … Continue reading “Perceivant Using Edtech to Bring Health and Wellness to College Kids”
Seed-Stage Deals Show Growing Diversity of Agtech Investments
Fundraising is tough for startups but it’s particularly difficult in agriculture, a sector that has fewer firms focused on agtech investments. The dynamics are starting to change, though. A growing number of early-stage agtech startups are raising money and they’re pulling capital from a broader pool of sources, according to a new report from AgFunder, … Continue reading “Seed-Stage Deals Show Growing Diversity of Agtech Investments”
Still No Official Word From Biopharma Groups About Trump Travel Ban
Four days after President Donald Trump issued an order to temporarily ban U.S. entry for people from seven Muslim-majority countries—and for all refugees—the drug industry’s two main lobbying groups have remained silent, even while individual executives in the industry have voiced opposition. The main life science trade group in California has also stayed on the … Continue reading “Still No Official Word From Biopharma Groups About Trump Travel Ban”
Ex-Xerox CTO Vandebroek Named Chief Operating Officer of IBM Research
When I last spoke to Sophie Vandebroek in December, it was for a kind of exit interview as she prepared to leave her longtime job as Xerox’s CTO and head of its worldwide research organization. We went over highlights of her Xerox tenure, her outlook on key technology trends for 2017 and beyond—the Internet of … Continue reading “Ex-Xerox CTO Vandebroek Named Chief Operating Officer of IBM Research”
Cybersecurity in 2017: Goal, Illusion, or Oxymoron?
Here at the (relative) beginning of 2017, we can safely say that the previous year was among the most significant in history from a cybersecurity standpoint. Nation-state actions, in the form of the assumed Russian interference in the U.S. elections (especially the presidential race) and in the leaks of e-mails from the Clinton campaign, dominated … Continue reading “Cybersecurity in 2017: Goal, Illusion, or Oxymoron?”
Non-Profit Aims For Market Transparency In K-12 Edtech Purchases
Teachers were not only the earliest adopters of educational technology. They were also savvy consumers of it, sharing tips on social media about the best free apps they’d found. Now edtech is a big business, and school districts are spending billions on purchases of tablets, laptops, and educational software. But the districts haven’t been so … Continue reading “Non-Profit Aims For Market Transparency In K-12 Edtech Purchases”
Novan Acne Drug Hits Targets in One Late-Stage Trial, Fails Another
Initial results are in for two late-stage clinical trials testing Novan’s experimental acne drug, and it’s a mixed bag. The topical gel hit all of its goals in one Phase 3 trial but fell short in a second, separate study. While Morrisville, NC-based Novan (NASDAQ: [[ticker:NOVN]]) tries to figure out why the two studies on … Continue reading “Novan Acne Drug Hits Targets in One Late-Stage Trial, Fails Another”
Bio Roundup: Trump News, Anthem’s Stand, Diversity by 2056 & More
It was a wild week in biotech and on Capitol Hill. A new study showed it may take another 40 years to achieve gender parity in public biotech boardrooms. Tensions continued to mount between drugmakers and payers over the rising costs of rare disease drugs. A flurry of deals took place, headlined by Johnson & … Continue reading “Bio Roundup: Trump News, Anthem’s Stand, Diversity by 2056 & More”
Report: Biotech VCs Perpetuate Boardroom Gender Gap
If power in the business world is centered in the boardroom, women in biotech have a long way to go to get their fair share—and the venture community deserves much of the blame. That’s according to British recruitment firm Liftstream and its new study of biotech companies that went public in the recent boom years. … Continue reading “Report: Biotech VCs Perpetuate Boardroom Gender Gap”
Ex-FDA Commish Califf Gives Props to Patient Groups—With Caveats
The nation’s former Food and Drug Administration commissioner Robert Califf, appearing for the first time since he resigned last week, told a Silicon Valley crowd this morning that the FDA will have to be flexible in coming years, allowing greater patient input into drug evaluation and leaning on outside watchdogs for help weeding out “imposters.” … Continue reading “Ex-FDA Commish Califf Gives Props to Patient Groups—With Caveats”
Business Leaders Talk Trump’s Impact on Visas, Drug Pricing, Insurance
Perhaps you’ve heard about the inauguration of one Donald J. Trump. Xconomy has been asking prominent members of the national innovation community for their thoughts on the incoming administration and its potential impact on their companies and industries. Here are responses from four business leaders in different cities across Xconomy’s network. Alex Lash, our national … Continue reading “Business Leaders Talk Trump’s Impact on Visas, Drug Pricing, Insurance”
Bio Roundup: Tom Price, Patient Conflicts, Orphan Games & More
The new president of the United States, Donald Trump, is being sworn in today amid a storm of questions about the plans that he, and those who might work for him, have in store for American healthcare and medicine. Trump’s nominee to run the $1 trillion Health and Human Services Department, Tom Price, answered—or didn’t … Continue reading “Bio Roundup: Tom Price, Patient Conflicts, Orphan Games & More”
Want to Ruin Your Relationships? Ask Family and Friends to Fund Your Startup
When you need cash to fuel your startup, it’s tempting to “think local.” The people with the strongest ties to you—relatives, friends, college roommates, running buddies, and co-workers—are the ones who believe in you. You’d probably turn first to them for financial support. Capital fronted by these folks might be the quickest, easiest cash you’ll … Continue reading “Want to Ruin Your Relationships? Ask Family and Friends to Fund Your Startup”
Dems Grill HHS Nominee Price About Trump Comments, Stock Holdings
[Note: This report was co-authored by deputy biotech editor Ben Fidler.] Tom Price, the man who could oversee an overhaul of the U.S. healthcare system, answered often pointed questions this morning from U.S. senators about his views, his plans for Obamacare, and personal financial transactions. Price, an orthopedic surgeon by training, is President-elect Donald Trump’s … Continue reading “Dems Grill HHS Nominee Price About Trump Comments, Stock Holdings”
With Another Migraine Drug Bet, Lilly Snaps Up CoLucid For $960M
Eli Lilly may have dealt a migraine drug called lasmiditan to CoLucid Pharmaceuticals 12 years ago, but the Indianapolis giant has clearly kept an eye on it, and now wants more than just some royalties if the treatment succeeds in clinical testing this year. Lilly (NYSE: [[ticker:LLY]]) will acquire Cambridge, MA-based CoLucid (NASDAQ: [[ticker:CLCD]]) in an … Continue reading “With Another Migraine Drug Bet, Lilly Snaps Up CoLucid For $960M”
Biogen to Pay $1.25B to Settle Forward Pharma Patent Suit on MS Drug
Biogen is paying Danish firm Forward Pharma $1.25 billion to settle a patent infringement lawsuit filed over the company’s multiple sclerosis pill dimethyl fumarate (Tecfidera). The settlement announced Tuesday with Forward (NASDAQ: [[ticker:FWP]]) could also put Cambridge, MA-based Biogen (NASDAQ: [[ticker:BIIB]]) on the hook for future royalties on sales of dimethyl fumarate. But the deal … Continue reading “Biogen to Pay $1.25B to Settle Forward Pharma Patent Suit on MS Drug”
Video Trends Point to Changing Ways Companies Reach Consumers
The top emerging trends that will affect our business in 2017 are a mixture of how consumers digest information online, video trends, and the continued growth of live video. The way people digest information online has shifted over time from being text based to photo based to now being very video based. Facebook forecasts that … Continue reading “Video Trends Point to Changing Ways Companies Reach Consumers”
Biotech Roundup: JPM Deals, Gender Diversity, PCSK9 Battle & More
[Corrected, 1/14/16, see below] This past week, the biopharma industry made its annual January pilgrimage to San Francisco for the J.P. Morgan Healthcare Conference. 2016 was a whirlwind year in biotech, and the biopharma gods rewarded attendees with a multi-day monsoon to slog through to get from one meeting to the next. Earlier today, Alex … Continue reading “Biotech Roundup: JPM Deals, Gender Diversity, PCSK9 Battle & More”
Notes From The JPM ’17 Vortex: Trump, Rainstorms & The Price You Pay
[Editor’s note: Ben Fidler contributed to this report] The week of frenetic data sharing, deal talking, and party hopping of the J.P. Morgan Healthcare Conference—and the events that have mushroomed around it—took a punch to the gut just as most attendees were wrapping up and checking their outbound flight status. The incoming party-pooper-in-chief, Donald Trump, … Continue reading “Notes From The JPM ’17 Vortex: Trump, Rainstorms & The Price You Pay”
Startup Resolution 2017: Embrace Believers, Bounce Skeptics & Keep Moving
The holiday period is a great time for reflection and then behavior modification – often referred to as resolutions. While a bit artificial to the logical engineer, this opportunity can be helpful. This year, my favorite insight came from a former student and employee, Elliot Cohen, co-founder of PillPack. While thinking about the major aspirational … Continue reading “Startup Resolution 2017: Embrace Believers, Bounce Skeptics & Keep Moving”
Cyber Attackers Targeted Our Trust, Not Just an Election
The cyber attacks on political organizations and election infrastructure added a level of intrigue to this year’s U.S. presidential election – culminating in the U.S. government officially blaming the Russian government for trying to influence the election. If the Cold War has taught us anything, it’s that global espionage is a game of chess, not … Continue reading “Cyber Attackers Targeted Our Trust, Not Just an Election”
Agtech Startup FarmLogs Harvests $22M From Naspers-Led Series C Round
Farming has always been a data-intensive business but digital approaches to record keeping are starting to take root with more farmers. Agtech startup FarmLogs aims to capitalize on the trend, and it now has $22 million in additional financing to support those efforts. New investor Naspers Ventures led the round Series C round of financing. … Continue reading “Agtech Startup FarmLogs Harvests $22M From Naspers-Led Series C Round”
Biopharma Leaders Call for Gender Diversity Amid J.P. Morgan Conference
A group of more than 100 prominent life sciences executives, investors, and business leaders have signed an open letter calling on the industry to step up efforts to increase gender diversity. The letter was published Wednesday, on the second to last day of the annual J.P. Morgan healthcare conference in San Francisco (see full letter … Continue reading “Biopharma Leaders Call for Gender Diversity Amid J.P. Morgan Conference”
Trump Slams Drug Companies, Says Medicare “Bidding” Is Coming
Oh, the power of a Donald Trump sound bite. On the campaign trail and as president-elect he has made occasional noises about drug pricing—giving the U.S. Medicare system, the largest buyer of drugs in the world, the right to negotiate prices, for instance. This morning, in his first press conference, Trump went further. He said … Continue reading “Trump Slams Drug Companies, Says Medicare “Bidding” Is Coming”
Edtech Venture Funding Down in 2016, But Still Tops $1B
While we’re looking at venture deal numbers from the past year, let’s consider the education technology industry, which isn’t broken out by sector in the general reports I’ve seen. A recent study by EdSurge, an edtech information firm, shows venture funding for U.S. education tech companies totaled $1.03 billion (across 138 deals) in 2016. Those … Continue reading “Edtech Venture Funding Down in 2016, But Still Tops $1B”
At Allergan And Other Pharmas, Price Transparency Has Limits
The first test of pharmaceutical giant Allergan’s promise to behave responsibly came last week. The firm acknowledged price hikes on several drugs that stayed—sometimes barely—under the 10 percent limit that CEO Brent Saunders pledged last September, in what he called a “social contract with patients.” In an interview at the annual J.P. Morgan healthcare investment … Continue reading “At Allergan And Other Pharmas, Price Transparency Has Limits”
VC Activity Continues Slowdown in Fourth Quarter, and Top 10 Deals
Venture capital firms didn’t exactly take their foot off the accelerator, but the pace of VC investments continued to weaken in the three months that ended in December, extending a slowdown that began in July, according to two venture reports issued today. The deceleration followed a strong start to venture activity during the first half … Continue reading “VC Activity Continues Slowdown in Fourth Quarter, and Top 10 Deals”
Protecting America’s Tech Prowess Amid the Hostile Rhetoric of 2017
With the inauguration of Donald Trump as president on January 20th, the editors asked some of our Xconomists to offer their thoughts on “How could the incoming administration significantly affect your industry?” My biggest concern would be a failure to recognize and take full advantage of the fact that America’s biggest asset is its technological … Continue reading “Protecting America’s Tech Prowess Amid the Hostile Rhetoric of 2017”
Indigo’s Microbial Treatment for Cotton Reaps Gains in Crop Yields
Drought presents challenges to cotton farmers in West Texas and this past growing season was no exception. But despite periods of moderate to severe drought in the region, some farmers reported higher crop yields after using a microbial treatment that helped their cotton plants hold up better in dry weather. Cotton plants treated with the … Continue reading “Indigo’s Microbial Treatment for Cotton Reaps Gains in Crop Yields”
Smart Voice Assistants Will Spread From Talking Devices To Apps in 2017
Millions of consumers who used to type their search questions on a laptop or the tiny keys of a smartphone are now simply telling a tabletop device what they want. Signs are that the Amazon Echo and Google Home—both equipped with smart voice assistants—will turn out to be blockbuster sellers of the holiday gift season … Continue reading “Smart Voice Assistants Will Spread From Talking Devices To Apps in 2017”
Bio Roundup: Biogen Price Fears, A Grail Billion, Hellos, Byes & More
Happy new year, everyone. Are you all strapped in? Tray tables in the locked and upright position? As Bette Davis once said, “It’s going to be a bumpy night.” The news from Washington is already coming fast and furious. The effort to repeal Obamacare is underway, spawning more perspectives and opinions than a postmodern Japanese … Continue reading “Bio Roundup: Biogen Price Fears, A Grail Billion, Hellos, Byes & More”
Families Fret As Insurers Mull Biogen’s $750K Spine Disease Drug
This past Christmas weekend, Ana Memedovich had her best two days in more than a decade. Her 23-year-old son Mikhail has spinal muscular atrophy, or SMA, a rare genetic disease that has slowly robbed him of the ability to walk and function independently. On Dec. 23, the FDA approved nusinersen (Spinraza), the first-ever drug for … Continue reading “Families Fret As Insurers Mull Biogen’s $750K Spine Disease Drug”
Biopharma Industry, Heal Thyself (Without Government Help)
With the inauguration of Donald Trump as president on January 20th, the editors asked some of our Xconomists to offer their thoughts on “How could the incoming administration significantly affect your industry?” The life sciences industry has one problem: Lack of productivity. When it figures out how to consistently make a profit discovering and developing drugs … Continue reading “Biopharma Industry, Heal Thyself (Without Government Help)”
Cancer Diagnostic Startup Capio Moves to Wisconsin, Raises $2.9M
In certain patients who are being treated for cancer, it’s possible for cells to detach from the tumors inside their bodies and begin moving through the bloodstream. These circulating tumor cells, or CTCs, can help oncologists and other clinicians determine how a disease is progressing, and how effective treatments given to that patient have been. … Continue reading “Cancer Diagnostic Startup Capio Moves to Wisconsin, Raises $2.9M”
Diversity in Experiences, Backgrounds Leads to Successful Businesses
As a Microsoft employee, I had the opportunity to work with some of the most brilliant minds in technology. The profile of my team members were similar to the United Nations. They were of every racial and religious mix. They contributed their unique genius shaped by their individual diverse experiences. I know the value of … Continue reading “Diversity in Experiences, Backgrounds Leads to Successful Businesses”
Ascletis Receives $100,000,000 Series B Funding Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=5e08c734-f674-4199-aefa-c4ca784a4c3d Date 1/5/2017 Company Name Ascletis Mailing Address 1002 Northridge Lane Chapel Hill, NC 27514 USA Company Description Ascletis focuses on building a global specialty therapeutics business dedicated to discovering and developing important new treatments for cancer and infectious diseases. Website http://www.ascletis.com Transaction Type Venture Equity Transaction Amount $100,000,000 Transaction Round Series … Continue reading “Ascletis Receives $100,000,000 Series B Funding Round”