Turning Point Therapeutics raised more than $166 million in its IPO, pricing at the top of its range and putting nearly 2 million more shares into the public markets than it had initially planned. Strong demand ahead of the offering prompted the company, which is developing targeted cancer drugs for patients that have developed resistance … Continue reading “Turning Point Prices IPO, Raising $166M to Test Cancer Drugs”
Category: San Diego
Qualcomm, Apple End Worldwide Legal Fights with Settlement Agreement
Wireless giant Qualcomm and smartphone maker Apple have been publicly feuding in courts around the globe, accusing one another of illegal business practices for more than two years. On Tuesday, the companies announced that the litigation between the two tech firms would be dismissed. San Diego-based Qualcomm (NASDAQ: [[ticker:QCOM]])—which, among other products, makes sophisticated components … Continue reading “Qualcomm, Apple End Worldwide Legal Fights with Settlement Agreement”
Insitro Lands Three-Year Deal With Gilead to Find New NASH Drugs
Drug discovery startup Insitro burst onto the scene last year with ambitions of using machine learning techniques to find new therapies. Now the company has its first pharmaceutical partner. Gilead Sciences will work with Insitro to find medicines to treat a liver disease, nonalcoholic steatohepatitis (NASH), that is fast becoming a global epidemic fueled by … Continue reading “Insitro Lands Three-Year Deal With Gilead to Find New NASH Drugs”
As Drug Resistance Grows, Amplyx Tests New Antifungal Drug
While fungal infections may seem like an annoyance rather than a serious health problem, sick people in hospitals and long-term care facilities are contracting potentially deadly infections that current treatments are failing to ameliorate, thanks to the evolution of many such germs. One such fungus, Candida auris, like some bacteria, has become increasingly resistant to … Continue reading “As Drug Resistance Grows, Amplyx Tests New Antifungal Drug”
How an Ohio Kids’ Hospital Quietly Became Ground Zero for Gene Therapy
[Updated, 4/22/19, see below] If a once-modest regional hospital and its new biotech allies have their way, the capital of Ohio could one day rival America’s other biomedical hubs. “Our goal is to make Columbus the center of the universe for gene therapy,” says Doug Ingram, CEO of Sarepta Therapeutics. Sarepta (NASDAQ: [[ticker:SRPT]]) is based … Continue reading “How an Ohio Kids’ Hospital Quietly Became Ground Zero for Gene Therapy”
Lyft, Uber, and the Changing Disclosure Rules For Unicorn IPOs
When a much-watched tech company such as Lyft, Uber, or Pinterest files for an initial public stock offering, people eagerly scour the sudden trove of information that such a private business must finally disclose when it begins to offer shares to the general public, rather than only to sophisticated inside investors such as venture capital … Continue reading “Lyft, Uber, and the Changing Disclosure Rules For Unicorn IPOs”
Thwarting Opposition, Bristol Gets Shareholder OK for $74B Celgene Buyout
The early opposition has turned out to be just noise. Shareholders of Bristol-Myers Squibb today approved the pharma giant’s planned buyout of Celgene, paving the way for a deal that will create one of the largest biopharma organizations in the world, and send ripples throughout the sector. Bristol (NYSE: [[ticker:BMY]]) said Friday that more than … Continue reading “Thwarting Opposition, Bristol Gets Shareholder OK for $74B Celgene Buyout”
Bio Roundup: EASL Does It, Alnylam’s BFF, Gene Therapy Deals & More
A major conference devoted to liver disease kicked off with updates from the race for approval of the world’s first drug to treat a form of advanced liver disease called nonalcoholic steatohepatitis, or NASH. The gene therapy field continued to attract venture cash and industry interest, and it was a busy week in Washington for … Continue reading “Bio Roundup: EASL Does It, Alnylam’s BFF, Gene Therapy Deals & More”
San Diego Life Sciences Roundup: Evofem, Cullgen, BrainLeap & More
Locally based biotech companies receive fresh funding from investors. A software startup launches games that it says may help children with disorders that cause attention difficulties. Get the details on these developments and more in San Diego life sciences news: —Evofem Biosciences (NASDAQ: [[ticker:EVFM]]) struck a deal to raise up to $80 million in a … Continue reading “San Diego Life Sciences Roundup: Evofem, Cullgen, BrainLeap & More”
EvoNexus Gets Bank, Investment Firm Backing for Fintech Incubator
Financial firms are facing competition from legacy players and disruptive fintech startups as technology continues to reshape the heavily regulated industry. Two financial firms are betting on a nonprofit incubator program in San Diego in hopes of identifying top talent and potential targets for investment or acquisition. The incubator, EvoNexus, said this week that Royal … Continue reading “EvoNexus Gets Bank, Investment Firm Backing for Fintech Incubator”
Xconomy Awards San Diego Diversity Finalists Are Scaling Up Empowerment
In an awards program, it can seem like a competition, but in the Commitment to Diversity category, many of the finalists are in fact collaborating with each other or share common roots. For example, finalist Silvia Mah is also a co-founder of one of the other finalists in the category, Ad Astra Ventures. And Ad … Continue reading “Xconomy Awards San Diego Diversity Finalists Are Scaling Up Empowerment”
Senators Grill Pharmacy Benefit Execs About Skyrocketing Drug Prices
Executives from five of the companies that negotiate drug prices on behalf of insurers testified Tuesday before the Senate finance committee. It was the latest in a series of hearings centered on the rising cost of prescription medication, which has captured attention on both sides of the political aisle and is likely to become a … Continue reading “Senators Grill Pharmacy Benefit Execs About Skyrocketing Drug Prices”
VC Trends in 2019: More Money, Fewer Deals But Women Still Get Less
[Updated 11:23 a.m. See below.] If you’ve been following venture capital trends, what you expected to happen in the first quarter of 2019 did: More money is being invested in fewer deals, and women founders still are getting less of it than men. Venture firms sent $32.6 billion into startups nationally during the first three … Continue reading “VC Trends in 2019: More Money, Fewer Deals But Women Still Get Less”
San Diego Tech Roundup: Bitmo, Dvele, Cybersecurity Report & More
—Mobile app startup Bitmo announced it had raised more than $3 million in seed funding from investors including Everplus Capital, Longboard Capital Advisors, and several Southern California-based family fund offices. Bitmo’s mobile app allows users to send and receive digital gift cards that can be switched between a number of stores. The company says it … Continue reading “San Diego Tech Roundup: Bitmo, Dvele, Cybersecurity Report & More”
Bio Roundup: Gottlieb’s Goodbye, AACR Recap, Migraine Drug Fight & More
Scott Gottlieb’s last day as FDA commissioner is today. His resignation announcement last month surprised some, given the earlier denials about leaving. But after two years of commuting between Connecticut, where his family remained, and the FDA’s Maryland headquarters, he decided to step down from the agency. What will Gottlieb’s legacy be? His efforts to … Continue reading “Bio Roundup: Gottlieb’s Goodbye, AACR Recap, Migraine Drug Fight & More”
Reveal Biosciences Gets Intel’s Backing on “AI-Powered” Pathology
A 25-person startup developing advanced computing tools to speed up pathology work has raised its first institutional financing from a group of investors led by Intel Capital, the corporate investment arm of the chipmaker. The San Diego-based company, Reveal Biosciences, is among 14 early-stage companies with business plans that include artificial intelligence, a catchall term … Continue reading “Reveal Biosciences Gets Intel’s Backing on “AI-Powered” Pathology”
Charles River Labs Says It Will Close San Diego Research Facility
Contract research organization Charles River Labs is shutting down its San Diego-area operations, moving the work done there to one of its two Northern California sites. In a filing with California’s Employment Development Department, Wilmington, MA-based Charles River (NYSE: [[ticker:CRL]]) said it would lay off 24 workers by May 20 in connection with the closure. … Continue reading “Charles River Labs Says It Will Close San Diego Research Facility”
Xconomy Awards San Diego CEO Finalists Show How To Build Value
To succeed as a CEO means having the fortitude to make the tough decisions that all companies face. Often, that means persevering in pursuit of a mission, whether that’s proving a new class of drugs can work, turning around a company that’s facing financial difficulties, battling much larger competitors, convincing investors to back cutting-edge technology, … Continue reading “Xconomy Awards San Diego CEO Finalists Show How To Build Value”
AACR 2019 Roundup: Notes from a Weekend of Early Stage Cancer Results
[Editor’s note: Alex Lash co-authored this report] The American Association for Cancer Research’s annual meeting is wrapping up in Atlanta today. The conference typically focuses on early research and clinical work, not the big trials that can change the way doctors practice medicine and that compete for headline space at conferences like the American Society … Continue reading “AACR 2019 Roundup: Notes from a Weekend of Early Stage Cancer Results”
“FacePalm” Bug Is a Jarring Wake-Up Call. And Not Just for Apple
Apple is a global icon. It was the first company in the world to reach a $1 trillion market capitalization, and it is the most valuable company in the world today. For the second year in a row, Apple ranked as the world’s most-admired company, in a Fortune survey of 3,750 business executives. PC magazine … Continue reading ““FacePalm” Bug Is a Jarring Wake-Up Call. And Not Just for Apple”
33 Tech Startups Make San Diego Venture Group “Cool Companies” List
What does it take for a tech startup to be considered “cool?” In the eyes of the San Diego Venture Group, the key element is readiness for venture capital backing. It’s through that lens that the nonprofit organization, whose mission is to connect local startups with venture capitalists who are looking to invest, annually vets … Continue reading “33 Tech Startups Make San Diego Venture Group “Cool Companies” List”
Bio Roundup: Amyloid Angst, NASH News, Brammer Bagged & More
A week after the failure of Biogen’s Alzheimer’s drug aducanumab, the ripple effects are still being felt—and not just by Biogen, which lost billions of dollars in market value in a flash. We’ll kick off this week’s roundup with the aducanumab reaction, which includes plenty of thoughts about the future of the so-called “amyloid hypothesis” … Continue reading “Bio Roundup: Amyloid Angst, NASH News, Brammer Bagged & More”
Kyriba to Get $160M in Majority Stake Sale to Private Equity Firm
Kyriba has been making cloud-based software since well before software-as-a-service (SaaS) became a tech buzzword. Nearly 20 years ago, the company, a spin-off of a French firm, began developing software to provide chief financial officers and other finance leaders with a comprehensive view of company cash and liquidity. Now Kyriba, which sells access to its … Continue reading “Kyriba to Get $160M in Majority Stake Sale to Private Equity Firm”
Lyft Raises $2.2B in IPO, Pegging Valuation at Over $24B
Investors eager to bet on the mobility industry’s future handed ride-hailing company Lyft $2.2 billion in new capital Thursday as the company completed an IPO that set its market capitalization at $24.3 billion, The New York Times reported. Lyft sold 30.8 million shares at $72 apiece, according to Renaissance Capital—the top of a new range … Continue reading “Lyft Raises $2.2B in IPO, Pegging Valuation at Over $24B”
Biolinq Adds $4.75M to Advance Glucose Monitoring Biosensor Patch
[Corrected 9:30 am PT. See below.] Biosensor startup Biolinq said Thursday it has raised $4.75 million from new investors, including the New York-based Juvenile Diabetes Research Foundation, following the results of a clinical study of its experimental biomarker monitoring device. Founders Jared Tagney and Joshua Windmiller, who met while in grad school at UC San … Continue reading “Biolinq Adds $4.75M to Advance Glucose Monitoring Biosensor Patch”
So You Want to Start a Cybersecurity Company?
Cybercrime has become a global epidemic. Attacks will cost the world $6 trillion by 2021, research firm Cybersecurity Ventures says-–the greatest transfer of economic wealth in history and more profitable than the trade in all major illegal drugs. As the threat keeps rising, the cybersecurity industry keeps growing. According to data released in January by … Continue reading “So You Want to Start a Cybersecurity Company?”
Acadia to Move Experimental Pediatric Rett Syndrome Drug to Phase 3
Acadia Pharmaceuticals said it plans to advance a drug it licensed last year from Australia’s Neuren Pharmaceuticals into a late-stage trial following promising Phase 2 results of the potential Rett syndrome treatment. San Diego-based Acadia (NASDAQ: [[ticker:ACAD]]) announced in August that it had licensed the drug, trofinetide, for development and commercialization in North America as … Continue reading “Acadia to Move Experimental Pediatric Rett Syndrome Drug to Phase 3”
Xealth Gets $11M, Aims to Be Surescripts of Digital Health Services
Doctors prescribe all sorts of things for their patients, like drugs, medical procedures, and changes to diet and exercise regimen. Prescribing a software application—one that helps a patient manage diabetes, for example—may sound futuristic to some people. But to Mike McSherry, CEO of Xealth, a Seattle-based startup that announced $11 million in new funding Wednesday to … Continue reading “Xealth Gets $11M, Aims to Be Surescripts of Digital Health Services”
FTC Queries Internet Providers on Consumer Data Collection and Use
The Federal Trade Commission, which has been digging into the privacy practices of tech giants Facebook and Google, is now training its sights on the internet service providers that bring us all our online content. In its role as a consumer protection agency, the FTC ordered Verizon, AT&T, T-Mobile, Comcast, Google Fiber, and other ISPs … Continue reading “FTC Queries Internet Providers on Consumer Data Collection and Use”
The 2019 Xconomy Awards San Diego Finalists Are…
It was no easy task. After an extensive review of the many nominees for the first-ever Xconomy Awards San Diego, Xconomy editors across the country and a panel of local experts together narrowed the list to 42 finalists (listed below) across eight categories. In the coming weeks leading up to the awards gala in May, … Continue reading “The 2019 Xconomy Awards San Diego Finalists Are…”
Amid Acquisition Drama, Celgene Resubmits MS Drug for FDA Approval
Celgene said Monday it has again sent the FDA an application for approval of ozanimod, an experimental multiple sclerosis drug it added to its pipeline in 2015 as part of its $7.2 billion acquisition of San Diego’s Receptos. Just over a year ago, the FDA refused to review Celgene’s application for ozanimod, citing a lack … Continue reading “Amid Acquisition Drama, Celgene Resubmits MS Drug for FDA Approval”
Sanford Burnham Prebys, WARF Partner on Drug Discovery
A program launched last year by the Wisconsin Alumni Research Foundation to invest in promising biotech discoveries made on the University of Wisconsin-Madison campus will also work with the La Jolla, CA-based Sanford Burnham Prebys Medical Discovery Institute, the organizations said recently. The partnership is part of a broader movement to accelerate the “bench to … Continue reading “Sanford Burnham Prebys, WARF Partner on Drug Discovery”
Qualcomm Backs Industrial IoT Security Firm CyberX in $18M Round
CyberX, an industrial “Internet-of-things” security startup, has raised $18 million in a funding round led by the venture arm of chip-maker Qualcomm (NASDAQ: [[ticker:QCOM]]) and Inven Capital, a cleantech and new energy fund based in Prague, the Czech Republic. Waltham, MA-based CyberX says it has seen rapid sales growth, which it attributes to boards of … Continue reading “Qualcomm Backs Industrial IoT Security Firm CyberX in $18M Round”
Turning Point Therapeutics Plans IPO to Advance Targeted Cancer Drugs
Turning Point Therapeutics, which is developing targeted cancer drugs for patients whose tumors resist other precision therapies, has outlined plans for an IPO. The company, which started operations in 2014, has raised nearly $148 million since inception. It is headed by Athena Countouriotis, who joined the company in May as its chief medical officer, then … Continue reading “Turning Point Therapeutics Plans IPO to Advance Targeted Cancer Drugs”
Bio Roundup: Sage Postpartum Help, Biogen Bids Adu, Heart Beats & More
One group of people in dire need of medical relief got good news this week. The first drug for postpartum depression was approved. With its complicated logistics, side effects, and potential high cost, it won’t be for everyone who experiences the condition—1 of every 9 U.S. women giving birth. But at least it’s an option. … Continue reading “Bio Roundup: Sage Postpartum Help, Biogen Bids Adu, Heart Beats & More”
Corza Health Emerges Led by Former NuVasive, GreatCall Executives
A Chicago-based private equity firm has tapped the former head of NuVasive and finance chief of GreatCall to start a new healthcare company in San Diego. The company, Corza Health, is headed by Greg Lucier, most recently CEO at NuVasive, and backed by the PE firm, GTCR, with money from its $5.25 billion Fund XII. … Continue reading “Corza Health Emerges Led by Former NuVasive, GreatCall Executives”
Urovant Bladder Drug Hits Test Goals But Can’t Outpace Generic Rival
Urovant Sciences says its experimental drug for overactive bladder could offer advantages compared to an FDA-approved treatment marketed by Astellas Pharma. But late-stage clinical results released Tuesday raise questions whether Urovant can persuade doctors to prescribe it instead of a much cheaper generic competitor. Irvine, CA-based Urovant (NASDAQ: [[ticker:UROV]]) said Tuesday that its drug vibegron … Continue reading “Urovant Bladder Drug Hits Test Goals But Can’t Outpace Generic Rival”
Why Comma.ai, Maker of Self-Driving Tech, is Moving to San Diego
Tech salaries may not be as high outside of Silicon Valley, but neither is the cost of operating a business—or the cost of living. San Diego’s startup community has rejoiced in recent months as massive companies that employ thousands of engineers—including Amazon (NASDAQ: [[ticker:AMZN]]), Apple (NASDAQ: [[ticker:AAPL]]), and the tech arm of Walmart (NYSE: [[ticker:WMT]])—have … Continue reading “Why Comma.ai, Maker of Self-Driving Tech, is Moving to San Diego”
The Role of the Student Engineer in Medicine and Innovation
The last 50 years have seen many great technical advances in medical treatments, ranging from drug delivery and imaging to skin grafts and prosthetics. These advances—both large and small—have drawn on many fields and have transformed patient care. When examining the current state of clinical technology, the focus is naturally on the technology and its … Continue reading “The Role of the Student Engineer in Medicine and Innovation”
Servier Licenses CureMatch Tech for Custom Cancer Drug Treatments
A global pharmaceutical company based in France has licensed software developed by San Diego digital health startup CureMatch that aims to help cancer doctors customize the combination of drugs they prescribe to patients based on mutations in cancer DNA. CureMatch was founded in 2015 to commercialize technology developed at the UC San Diego Moores Cancer … Continue reading “Servier Licenses CureMatch Tech for Custom Cancer Drug Treatments”
Qualcomm Gets $31M in Patent Infringement Trial Win Over Apple
Wireless giant Qualcomm notched a win Friday in its ongoing multijurisdictional war with smartphone maker Apple as a federal jury in San Diego unanimously backed its patent infringement case. Qualcomm (NASDAQ: [[ticker:QCOM]]) said Friday that the jury found that some versions of Apple’s iPhones—the 7, 7 Plus, 8, 8 Plus, and X—infringed two of its … Continue reading “Qualcomm Gets $31M in Patent Infringement Trial Win Over Apple”
Bio Roundup: Golumbeski’s Legacy, CRISPR Moratorium, Rebate Week & More
While all eyes in the biopharmaceutical world are currently trained on Bristol-Myers Squibb’s proposal to buy Celgene for $74 billion, it wasn’t that long ago that another company’s gaze was fixed on the Summit, NJ, drug maker. In the early 2000s, before the FDA approved Celgene’s flagship multiple myeloma drug lenalidomide (Revlimid), Novartis (NYSE: [[ticker:NVS]] … Continue reading “Bio Roundup: Golumbeski’s Legacy, CRISPR Moratorium, Rebate Week & More”
Harley-Davidson Goes Electric: Behind the Scenes of LiveWire’s R&D
For more than a century, the throaty “potato, potato, potato” rumble of a Harley-Davidson motorcycle has been synonymous with the open road, freedom—rebellion, even—and, some might say, American masculinity. For non-gearheads, that iconic sound, introduced in 1909, is the result of Harley-Davidson’s (NYSE: [[ticker:HOG]]) traditional engine configuration, a V-twin with a 45-degree angle between the … Continue reading “Harley-Davidson Goes Electric: Behind the Scenes of LiveWire’s R&D”
Blood Test Study Meets Goal, Validates Epic’s Prostate Cancer Target
Epic Sciences has developed a blood test that can predict how likely a patient with late-stage prostate cancer treated with hormones is likely to respond to an additional course of such therapy. Now, the San Diego-based company has additional data that it says supports use of its tests to determine when not to use hormone … Continue reading “Blood Test Study Meets Goal, Validates Epic’s Prostate Cancer Target”
Drug-Price Watchdog ICER Dives into Trump-Fueled Pharma Rebate Debate
[Updated 3/13/19, 12:20pm. See below.] With public and political winds blowing in the same direction, significant reform of the complicated U.S. drug-pricing system seems ever more likely. One part of the system that the Trump administration wants to overhaul are the secret rebates that drug makers, insurers, and middlemen negotiate behind closed doors. Replacements for … Continue reading “Drug-Price Watchdog ICER Dives into Trump-Fueled Pharma Rebate Debate”
Meet the Companies in Backstage Capital’s Detroit Accelerator
Backstage Capital, a Los Angeles-based venture firm seeding early-stage companies led by women, people of color, and members of the LGBTQ community, has announced the details of its Detroit startup accelerator. Earlier this year, Backstage founder Arlan Hamilton announced the firm would host its first accelerators in four cities, including Detroit. The Motor City’s inclusion, … Continue reading “Meet the Companies in Backstage Capital’s Detroit Accelerator”
Connect, Longtime Local Accelerator, Names Silvia Mah as President
Connect, a 34-year-old nonprofit which runs the well-known Springboard Accelerator Program for startups, announced Monday that it had tapped Silvia Mah, a San Diego investor and entrepreneur, as its new president. She succeeds Greg McKee, who served as president and CEO of the San Diego-based organization for five years before stepping down last month to … Continue reading “Connect, Longtime Local Accelerator, Names Silvia Mah as President”
The Life, Troubles, and Celgene Legacy of Deal Guru George Golumbeski
George Golumbeski is one of the most prolific dealmakers in the biopharmaceutical world. But the deal that changed his life is a pact he made with himself when he was ten years old. Playing with friends in front of his house in Hampton, VA, he watched his mother drag his dead-drunk father, a U.S. Air … Continue reading “The Life, Troubles, and Celgene Legacy of Deal Guru George Golumbeski”
San Diego Life Sciences Roundup: ResMed, Alexandria GradLabs & More
Spring has sprung, and it’s shaping up to be another busy season for San Diego’s life sciences community. As we head into the weekend, crossing our fingers that the seemingly endless rain showers will be replaced by our usual sunshine, here’s a quick rundown of some recent news developments. —ResMed (NYSE: [[ticker:RMD]]) acquired a South … Continue reading “San Diego Life Sciences Roundup: ResMed, Alexandria GradLabs & More”
Bio Roundup: Gottlieb Exits, Bristol Defends, Biogen Buys & More
In early 2017, Scott Gottlieb was considered the most moderate of the potential candidates to head the Food and Drug Administration, which is the most powerful regulator of medical products in the world. It wasn’t a high bar to clear. Libertarians who had questioned some of the basic premises of the FDA were in the … Continue reading “Bio Roundup: Gottlieb Exits, Bristol Defends, Biogen Buys & More”