The first medicine that uses RNA interference, a method cells employ to mute a gene before it can make a harmful protein, has made its way to Europe. Three weeks after the FDA approved patisiran (Onpattro), from Alnylam Pharmaceuticeuticals (NASDAQ: [[ticker:ALNY]]), for a rare and deadly disease called hereditary transthyretin amyloidosis (hATTR), the European Medicines … Continue reading “RNAi Hits Europe as EMA Follows FDA, Approves Alnylam Drug”
Category: San Diego
Former Armo Bio Exec Leveque Joins Synthorx as Chief Medical Officer
Synthorx has appointed Joseph Leveque to serve as chief medical officer of the San Diego biotech. Leveque most recently worked at Redwood City, CA-based cancer drug developer Armo Biosciences, which was acquired by Eli Lilly (NYSE: [[ticker:LLY]]) for $1.6 billion earlier this year. Leveque’s experience also includes senior roles at EMD Serono, Bristol-Myers Squibb (NYSE: … Continue reading “Former Armo Bio Exec Leveque Joins Synthorx as Chief Medical Officer”
Puls Snags $50M to Grow On-Call Repair Service for Smartphones, IoT
Puls Technologies, whose on-demand technicians repair broken smartphones and install connected home devices, announced today it has raised $50 million to expand its reach as a unified source of device maintenance and consumer support. San Francisco-based Puls, founded in 2015, offers to dispatch technicians quickly to a customer’s home or office to replace malfunctioning parts, … Continue reading “Puls Snags $50M to Grow On-Call Repair Service for Smartphones, IoT”
FDA Gives Thumbs-Down to Rare Disease Drug from Ionis, Akcea
The FDA has rejected the rare-disease drug volanesorsen (Waylivra), which is being developed by Ionis Pharmaceuticals (NASDAQ: [[ticker:IONS]]) and its subsidiary Akcea Therapeutics (NASDAQ: [[ticker:AKCA]]). Ionis, based in San Diego, and Akcea, in Cambridge, MA, had high hopes for approval after a committee of outside experts in May recommended the drug by a 12-8 vote. … Continue reading “FDA Gives Thumbs-Down to Rare Disease Drug from Ionis, Akcea”
Bio Roundup: EpiPen Shortage, Bluebird’s Bet, Biotech IPOs & More
It’s back-to-school season and that means it’s time to load up on school supplies. For many students and schools, one crucial item is in high demand but hard to come by: the EpiPen. Some schools stock the epinephrine autoinjectors so they can respond quickly to a student’s allergic reaction to food. Though the autoinjectors are … Continue reading “Bio Roundup: EpiPen Shortage, Bluebird’s Bet, Biotech IPOs & More”
Ionis Pharma’s Steven Hughes Joins Organovo as Chief Medical Officer
Steven Hughes has joined Organovo (NASDAQ: [[ticker:ONVO]]) to serve as the San Diego company’s chief medical officer. Hughes comes to Organovo from Carlsbad, CA-based Ionis Pharmaceuticals (NASDAQ: [[ticker:IONS]]), where he was chief clinical development officer. His experience also includes senior leadership roles at Biogen (NASDAQ: [[ticker:BIIB]]), CSL Behring, and Sanofi (NYSE: [[ticker:SNY]]). Organovo has several … Continue reading “Ionis Pharma’s Steven Hughes Joins Organovo as Chief Medical Officer”
Pfenex Chief Medical, Scientific Officer Chen to Resign in September
Hubert Chen, chief medical and scientific officer of Pfenex (NYSE American: [[ticker:PFNX]]), plans to resign on Sept. 2, the San Diego biotech announced Thursday. No explanation was given for Chen’s departure but in a securities filing, the company said it was not for “good reason.” According to Chen’s employment contract, “good reason” includes a breach … Continue reading “Pfenex Chief Medical, Scientific Officer Chen to Resign in September”
Would Uber’s IPO Be a Revival or a Reckoning?
In its early years, Uber was a headstrong force knocking down preconceived ideas about transportation and, along with Lyft, sparking the imaginations of countless entrepreneurs who are now building a new industry called “mobility.” As it closes in on its first decade, Uber is a conundrum: A Silicon Valley unicorn with $7.3 billion in cash, … Continue reading “Would Uber’s IPO Be a Revival or a Reckoning?”
Bio Roundup: Big Approvals, ICER Influence, Drug-Price Pushback & More
[Updated 8/17/18, 10:21 a.m. See below.] We’ll start the roundup this week with two drug approvals that came late last Friday. Both were landmarks for the companies receiving the nod, Alnylam Pharmaceuticals and Amicus Therapeutics. We also saw a new biotech emerge in the muggy New York heat, a couple deals for new flu vaccines, … Continue reading “Bio Roundup: Big Approvals, ICER Influence, Drug-Price Pushback & More”
DoorDash Valued at $4 Billion After Adding $250M in New Funding
DoorDash has upped its valuation to $4 billion with a new $250 million financing round, five months after it raised $535 million to gain its “unicorn” status. The new $250 million funding round was co-led by Coatue Management and DST Global. CEO Tony Xu told Axios’s Dan Primack that the company hadn’t been actively seeking … Continue reading “DoorDash Valued at $4 Billion After Adding $250M in New Funding”
Best Buy Acquires GTCR’s GreatCall for $800M, Eyeing Aging Boomers
Best Buy is paying $800 million in cash for GreatCall, a San Diego-based healthtech company which private equity firm GTCR bought early last year. GreatCall operates a virtual mobile telecommunications network for a customer base of more than 900,000 elderly consumers. The company also sells gadgets, such as mobile devices with large screens and big … Continue reading “Best Buy Acquires GTCR’s GreatCall for $800M, Eyeing Aging Boomers”
SF’s Full Harvest Bags $8.5M to Help Sell “Ugly and Surplus” Produce
Full Harvest, an online market for imperfect produce that previously would have been thrown out, announced it has raised $8.5 million in a Series A round of funding. The funding was led by Spark Capital and includes investors such as Cultivian Sandbox Ventures, Rent the Runway co-founder Jenny Fleiss, and John Scherr, head of strategic … Continue reading “SF’s Full Harvest Bags $8.5M to Help Sell “Ugly and Surplus” Produce”
To Avoid Trouble, Companies Must Support Harassed Employees First
When news breaks about sexual harassment at a company like Uber, the public is likely to believe that the entire business has a cultural problem. In contrast, the same isn’t true for other issues, such as financial misconduct, which the public tends to see as a “bad apple” situation. That’s according to a study released … Continue reading “To Avoid Trouble, Companies Must Support Harassed Employees First”
Ford’s Autonomic Pairs With Alibaba Cloud On Mobility Hub for China
Ford—one of the automakers competing in China’s huge car market—is now making a bid to provide China’s leading software infrastructure hub dedicated to streamlining transportation by connecting cars and riders with mobility services. Ford’s recently acquired unit Autonomic, which co-created the automaker’s Transportation Mobility Cloud (TMC), inked a deal Tuesday to partner with Alibaba Cloud, … Continue reading “Ford’s Autonomic Pairs With Alibaba Cloud On Mobility Hub for China”
Alnylam Gets Landmark FDA OK For First-Ever RNAi Drug
[Updated at 4:08 pm ET, see below] Alnylam Pharmaceuticals made history this afternoon. The FDA has just approved Alnylam’s patisiran (Onpattro), making it the first medicine specifically cleared to treat a rare and deadly disease called hereditary transthyretin amyloidosis (hATTR). The decision is a scientific milestone too: it marks the first-ever approval for a medicine … Continue reading “Alnylam Gets Landmark FDA OK For First-Ever RNAi Drug”
Bio Roundup: Medicare Drug Prices, FDA Moves, Gene Therapy News & More
Two imminent FDA rulings on two separate drugs aren’t just noteworthy for the patients they’ll help, but the long and winding road their developers have taken to get to this point. First is Alnylam Pharmaceuticals, which has spent 16 years and over $2 billion to try to bring an unproven form of medicine, RNA interference … Continue reading “Bio Roundup: Medicare Drug Prices, FDA Moves, Gene Therapy News & More”
Austin Group Joins Other Tech Efforts to Promote Responsible AI Use
Artificial intelligence is poised to infiltrate nearly all aspects of human life. Given this development, technologists are focusing on how to ensure the technology usage is governed by ethics. “The general rule is that power begets responsibility,” says Michael Stewart, founder and CEO of Lucid AI, an AI startup in Austin. “If you’re bringing in a … Continue reading “Austin Group Joins Other Tech Efforts to Promote Responsible AI Use”
Lack of Diversity Isn’t a “Pipeline Problem,” It’s a Network Problem
Recently, I was in Chicago for Paradigm IQ’s D&I Lab: Data-Driven Strategies to Attract & Hire Diverse Talent, a one-day workshop designed to equip attendees with new strategies for designing an inclusive organization. In a room full of people with titles like chief people officer, director of diversity and inclusion, and director of leadership and organizational … Continue reading “Lack of Diversity Isn’t a “Pipeline Problem,” It’s a Network Problem”
With Big Takeda Deal at Launch, Can Ambys Keep Control of Its Future?
A new biotech has debuted today aiming to make a variety of treatments for deadly liver diseases. The startup, Ambys Medicines, has formed an unusual, broad alliance with Takeda. Some early, wide-ranging partnerships between new biotechs and Big Pharma have fallen apart in the past and have been too limiting for the biotech, but Ambys’s … Continue reading “With Big Takeda Deal at Launch, Can Ambys Keep Control of Its Future?”
Retrophin Appoints Noah Rosenberg Chief Medical Officer
Noah Rosenberg has joined Retrophin (NASDAQ: [[ticker:RTRX]]) as chief medical officer. Rosenberg comes to the San Diego biotech from Fairfield, NJ-based Medimetriks Pharmaceuticals, where he was chief medical officer. Retrophin’s drug pipeline includes late-stage drug candidates fosmetpantotenate, an experimental treatment for the rare neurological disorder pantothenate kinase-associated neurodegeneration, and sparsentan, a drug for a rare … Continue reading “Retrophin Appoints Noah Rosenberg Chief Medical Officer”
Blockchain Tomatoes & Edible Peels: Startups Innovate to Fight Spoilage
As much as 40 percent of food in this country is never eaten, yet 41 million people don’t have enough to eat, including 13 million children, according to the Natural Resources Defense Council and the U.S. Department of Agriculture. Some of that food insecurity is due to food spoilage, rendering billions of dollars’ worth of … Continue reading “Blockchain Tomatoes & Edible Peels: Startups Innovate to Fight Spoilage”
The Technology Behind Fighting California’s Fires & Other Disasters
As wildfires continued to burn across the length of California this month, Gov. Jerry Brown urged residents to stay on the alert and warned that the cost of fighting the climate-driven blazes will continue to strain future state budgets. Residents of the three Northern California counties hardest hit by wildfires last year have already learned … Continue reading “The Technology Behind Fighting California’s Fires & Other Disasters”
Bio Roundup: Alnylam’s Moment, Read on Rebates, Skinny Plans & More
Millions of people might be on vacation as we hit the dog days, but drug makers and politicians aren’t taking a break from the gamesmanship over high drug prices. After two years of blowing smoke, the Trump administration is threatening action on a few fronts, including against the powerful middlemen known as PBMs that decide … Continue reading “Bio Roundup: Alnylam’s Moment, Read on Rebates, Skinny Plans & More”
Patients Have “Fingers Crossed” As Alnylam Awaits Historic FDA Decision
[Updated, 8/6/18, see below] By next weekend, the FDA could for the first time approve a medicine that uses a biological trick that was only discovered two decades ago: RNA interference, which silences a gene before it can make a harmful protein. That medicine is patisiran (Onpattro), from Alnylam Pharmaceuticals (NASDAQ: [[ticker:ALNY]]). An approval wouldn’t … Continue reading “Patients Have “Fingers Crossed” As Alnylam Awaits Historic FDA Decision”
After Threats, Austin Founder Shut Browser Firm Authenticated Reality
Austin—When Authenticated Reality launched last year, it seemed that the company had struck gold in terms of market demand and fit. The Austin-based startup had developed a Web browser that would require users to prove they are who they say they are. Users would have to sign up for an account—scanning their driver’s license and … Continue reading “After Threats, Austin Founder Shut Browser Firm Authenticated Reality”
Neurana Pharmaceuticals Names Craig Thompson President & CEO
Craig Thompson has joined Neurana Pharmaceuticals as president and CEO. Prior to starting at the San Diego company, Thompson was president and CEO of Anthera Pharmaceuticals in Hayward, CA. Neurana develops drugs that treat neuromuscular conditions. In May, the company closed a $60 million Series A round of funding to finance Phase 2 studies testing … Continue reading “Neurana Pharmaceuticals Names Craig Thompson President & CEO”
For Women Only: E-Retail Subscription Firm Athena Club Raises $3.8M
[Updated 7/31/18 7:46 am. The story and headline has been changed to reflect an updated amount.] Athena Club, a subscription program for feminine hygiene products, is the latest entrant into the direct-to-women e-commerce space and announced today that it has raised $3.8 million in funding. Co-founder Maria Markina says her New York-based startup gives women … Continue reading “For Women Only: E-Retail Subscription Firm Athena Club Raises $3.8M”
Pernix-Backed Biz Picks Up Orexigen’s Weight Loss Drug for $74M
Orexigen Therapeutics went bankrupt trying to turn its weight loss pill, Contrave, into a commercial success. Now Pernix Therapeutics will try its luck. Pernix (NASDAQ: [[ticker:PTX]]) said Monday that a business entity it helped create, Nalpropion Pharmaceuticals, has closed a deal for Contrave. Morristown, NJ-based Pernix formed Nalpropion to bid on Contrave, which Orexigen auctioned … Continue reading “Pernix-Backed Biz Picks Up Orexigen’s Weight Loss Drug for $74M”
Bio Roundup: An Alzheimer’s Head-Scratcher, OUTBio, GSK & Gilead Shakeups
The devil is in the details, and key clinical trial results made that abundantly clear this week. Eisai and partner Biogen released the highly anticipated details of an Alzheimer’s disease study they had already deemed positive, after an initial failure. In one sense, the study was the success they have claimed. A high dose of … Continue reading “Bio Roundup: An Alzheimer’s Head-Scratcher, OUTBio, GSK & Gilead Shakeups “
Qualcomm’s Ends Two-Year, $44B Bid for NXP After No Word from China
Qualcomm finally ended its almost two-year bid to acquire Dutch semiconductor maker NXP for as much as $44 billion last night, after it didn’t receive word from Chinese regulators about whether the deal, which was subject to global regulations, would gain approval. Instead, San Diego-based Qualcomm said it plans to repurchase $30 billion of shareholder … Continue reading “Qualcomm’s Ends Two-Year, $44B Bid for NXP After No Word from China”
OUTBio, a Biopharma LGBTQ Group, Grows Fast & Ponders Its Future
In June, Jennifer Petter, the founder and chief scientific officer of biotech startup Arrakis Therapeutics, got an e-mail from a stranger. His name was Ramsey Johnson, a biotech veteran who works in clinical operations at Boston startup Phoenix Tissue Repair. Johnson was writing about OUTBio, a networking organization for LGBTQ members of the biopharma community. … Continue reading “OUTBio, a Biopharma LGBTQ Group, Grows Fast & Ponders Its Future”
Nabriva Bolsters Antibiotics Pipeline with Zavante Acquisition
Nabriva Therapeutics has acquired Zavante Therapeutics in a stock deal that brings to the antibiotics developer an FDA-ready drug. Under the deal terms announced after the market close Tuesday, San Diego-based Zavante received an upfront payment of 8.2 million Nabriva (NASDAQ: [[ticker:NBRV]]) shares. Nabriva, which splits its operations between Ireland and King of Prussia, PA, … Continue reading “Nabriva Bolsters Antibiotics Pipeline with Zavante Acquisition”
SnappyScreen’s Booths Protect People While They Have Fun in the Sun
Applying sunscreen while outdoors is a long-accepted way to help keep our skin safe from sunburn and cancer. Yet the Centers for Disease Control and Prevention says less than a third of women, and even fewer men, report using it when going outside for more than an hour. “You should put it on more frequently … Continue reading “SnappyScreen’s Booths Protect People While They Have Fun in the Sun”
Announcing XCON 2018: A Conference on Technology and Transformation
This fall, we are convening exemplary business leaders, investors, and far-seeing technologists for an in-depth exploration of the innovation ecosystem and its impact on the future. Come join us at our newest interactive conference, XCON: The Xconomy Conference on Technology and Transformation. It spans three days, November 4-6, and three innovation venues in the Boston … Continue reading “Announcing XCON 2018: A Conference on Technology and Transformation”
Retailers Need to Get Real About Security
It seems a distant memory now. In December 2013 – light years ago in technology time – the retail giant Target disclosed a massive software security breach of its point of sale systems. The bad guys fled the virtual premises with the credit card information of 40 million customers. This astounding number would later rise … Continue reading “Retailers Need to Get Real About Security”
Crinetics Pharma Appoints Alan Krasner Chief Medical Officer
Alan Krasner has joined Crinetics Pharmaceuticals (NASDAQ: [[ticker:CRNX]]) as chief medical officer. Krasner comes to the San Diego biotech from Shire (NASDAQ: [[ticker:SHPG]]), where he was a senior medical director. His experience also includes posts at Biodel and Pfizer (NYSE: [[ticker:PFE]]). Crinetics develops treatments for rare endocrine diseases and endocrine-related tumors.
Best Reads for Casual Friday: Big Tech Businesses Gets Political
You’ve made it to Friday. Time to curl up in your cubicle, pop open one of these in-depth, entertaining reads, and catch up on some of what you missed during a busy week. This week we’re taking a look at all the political stories that are coming out of the tech world. And given the … Continue reading “Best Reads for Casual Friday: Big Tech Businesses Gets Political”
Bio Roundup: Drug Prices, CRISPR Caveats, Rubius IPO Pop & More
After nearly two years of all smoke, no fire around President Trump’s promise to curtail drug prices, there’s finally some glimmer of action. Pfizer said last week it would halt its price hikes, and Novartis and Merck took similar actions this week. But we still don’t know the details of the administration’s drug-pricing policy, if … Continue reading “Bio Roundup: Drug Prices, CRISPR Caveats, Rubius IPO Pop & More”
If the Shoe Fits: Luxury Shoe Club Launches E-Consignment Store
One in five pairs of shoes sit unworn in the average woman’s closet. So, why not sell these unused, or slightly used, pairs to someone who will wear them? That’s the view of Scott Van Valkenburgh, co-founder of Luxury Shoe Club, a Raleigh, NC-based startup that caters to women who want to buy and sell … Continue reading “If the Shoe Fits: Luxury Shoe Club Launches E-Consignment Store”
E.U. Slaps $5B Antitrust Fine on Google; Trump Blasts Back With Tweet
[Updated 7/19/18, 9:59 am. See below.] If top European leaders faced a testy President Donald Trump in a series of meetings this summer, imagine the mood when the president of the European Commission arrives at the White House next Wednesday. President Trump and the European Union’s top executive officer, Jean-Claude Juncker, are slated to discuss … Continue reading “E.U. Slaps $5B Antitrust Fine on Google; Trump Blasts Back With Tweet”
Walmart, Microsoft Deepen Partnership as Both Grapple With Amazon
The enemy of my enemy is my friend—even in the retail and cloud computing businesses. So says retail giant Walmart (NYSE: [[ticker:WMT]]) as it announced this morning a five-year partnership with Microsoft (NASDAQ: [[ticker:MSFT]]) to use machine learning and other technologies, deepening an existing partnership between two of Amazon’s biggest rivals. “Whether it’s combined with our … Continue reading “Walmart, Microsoft Deepen Partnership as Both Grapple With Amazon”
New Ethics Code Urges Tech Firms and Coders To Avoid Harming Society
Selling a new Web-connected thermostat or other wired gizmo to consumers without a plan to deliver the necessary security patches is not only bad business—it’s unethical. So is failing to challenge a law or tech company rule that governs work on technology products, if that rule causes unjustifiable harms to people or the environment. Those … Continue reading “New Ethics Code Urges Tech Firms and Coders To Avoid Harming Society”
Best Friday Reads: Social Media Rules Us All, and Mints Billionaires
Humans have had a drastic physical evolution recently—one that has notably taken only a few years. While the evolution from hunched primates to homo sapiens took tens of millions of years, we needed only about a decade to develop an arched neck that is perennially looking down at a smartphone—presumably one with a social media … Continue reading “Best Friday Reads: Social Media Rules Us All, and Mints Billionaires”
Bio Roundup: Pfizer’s Prices, Novartis Cuts, Gene Therapy Guide & More
Drug price changes typically happen either at the start of the calendar year or the beginning of the third quarter. Such changes are routine for many companies, but Pfizer took an unusual step this week by rolling back scheduled price increases on 40 of its drugs. The change of plan happened after Pfizer (NYSE: [[ticker:PFE]]) … Continue reading “Bio Roundup: Pfizer’s Prices, Novartis Cuts, Gene Therapy Guide & More”
Broadcom Eyes CA Technologies for $19B After Trump Axed Qualcomm Bid
Semiconductor maker Broadcom, which ended its effort to buy competitor Qualcomm earlier this year, has a new target: New York-based business software maker CA Technologies. The pair announced Wednesday that Broadcom (NASDAQ: [[ticker:AVGO]]), which moved its headquarters from Singapore to San Jose, CA, earlier this year, plans to pay $18.9 billion in cash for CA … Continue reading “Broadcom Eyes CA Technologies for $19B After Trump Axed Qualcomm Bid”
E-Retail Startup Pointy Raises $12M, Helps Small Shops Be Found Online
Mark Cummins wondered why online search engines could help you locate a landmark halfway around the world in a second but couldn’t tell him whether the corner store had a craft beer he liked. That’s what led him to co-found Pointy, which makes a hardware device that enables small retailers to easily upload inventory onto … Continue reading “E-Retail Startup Pointy Raises $12M, Helps Small Shops Be Found Online”
EU Regulators Approve Akcea’s Inotersen. FDA Decisions Are Next.
Akcea Therapeutics (NASDAQ: [[ticker:AKCA]]) has beaten rival Alnylam Pharmaceuticals (NASDAQ: [[ticker:ALNY]]) to a first drug approval, getting the nod for its drug inotersen (Tegsedi) in the European Union. Akcea and Alnylam, both of Cambridge, MA, are developing treatments for the rare genetic disease transthyretin amyloidosis, or ATTR. It stems from a gene mutation that causes … Continue reading “EU Regulators Approve Akcea’s Inotersen. FDA Decisions Are Next.”
Venture Funding Keeps Momentum Amid IPO Wave; Plus Q2’s Top 10 Deals
[Updated 7/12/18, 9:24 am. See below.] Last year, U.S. venture capital investments swelled to a level not seen since the dot-com era of the early 2000s. This year could be even bigger. Investors funneled $57.5 billion into U.S. companies through the first six months of 2018, according to the latest Venture Monitor report produced quarterly … Continue reading “Venture Funding Keeps Momentum Amid IPO Wave; Plus Q2’s Top 10 Deals”
Down the Stretch: Akcea, Alnylam Face Reality Checks as FDA Dates Loom
More details from two drug programs up for approval this year to treat a rare genetic disease emerged yesterday, published in side-by-side papers in the New England Journal of Medicine. In one sense, the new papers hold no surprises, but they reinforce the similarities and differences between the closely watched drugs, one from Akcea Therapeutics … Continue reading “Down the Stretch: Akcea, Alnylam Face Reality Checks as FDA Dates Loom”
Bio Roundup: Dunsire’s Danish, Price Hikes, Rare-Disease Race & More
[Corrected, 7/6/18, 1:26 pm. See below.] Xconomy was dumbstruck this week, and not by the fireworks overhead. Our friend and one of our earliest employees, San Diego editor Bruce Bigelow, died suddenly last weekend. Bruce covered everything—and everyone—in San Diego’s innovation scene, including the life sciences. Some of our favorite stories of his sprang from … Continue reading “Bio Roundup: Dunsire’s Danish, Price Hikes, Rare-Disease Race & More”