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”
Category: San Diego
Jounce Gets $102M As Biotech IPOs Gain Steam in ’17
Jounce Therapeutics has gone ahead of its projections and raised roughly $102 million in an IPO, continuing an early, yet successful trend for biotechs trying to go public in 2017. The Cambridge, MA, company sold close to 6,365,000 shares at $16 apiece, almost 1 million more shares than it proposed to sell a few weeks … Continue reading “Jounce Gets $102M As Biotech IPOs Gain Steam in ’17”
AnaptysBio Adds More Shares, Raises $75M in Stock Market Debut
AnaptysBio is the first U.S. biotech company to go public this year, raising $75 million in an IPO intended to finance development of antibody-based drugs for inflammatory disorders. The San Diego-based company sold 5 million shares at $15 apiece—in line with the $14 to $16 per share range it set earlier this month—and is now … Continue reading “AnaptysBio Adds More Shares, Raises $75M in Stock Market Debut”
Just Four Months After Series A, Delinia Sells to Celgene For $300M
It didn’t take long for startup Delinia to entice a big drug developer: Just over four months after emerging from stealth and raising a Series A round, the company, developing drugs for a range of autoimmune diseases, has been acquired by Celgene. Celgene (NASDAQ: [[ticker:CELG]]) will pay $300 million up front to buy Cambridge, MA-based … Continue reading “Just Four Months After Series A, Delinia Sells to Celgene For $300M”
Inspired by NFL Teammate, Aethlon Seeks Diagnostic for Brain Injuries
Just as the NFL marketing machine is stoking the build-up to Super Bowl LI, a San Diego diagnostic company headed by a former Denver Broncos player has unveiled plans for a new clinical study of traumatic brain injuries among retired NFL players. Exosome Sciences, a subsidiary of San Diego’s Aethlon Medical (NASDAQ: [[ticker:AEMD]]), said today … Continue reading “Inspired by NFL Teammate, Aethlon Seeks Diagnostic for Brain Injuries”
Anthem Caps Coverage Of Biogen Spine Drug Despite Wide FDA Approval
One of the nation’s major health insurers has placed limitations on access to the first-ever approved drug for the rare spinal muscular atrophy, validating patient fears that the high price tag of the drug, nusinersen (Spinraza), might make it hard for some with the disease to get treatment. Indianapolis-based Anthem (NYSE: [[ticker:ANTM]]) has disclosed its … Continue reading “Anthem Caps Coverage Of Biogen Spine Drug Despite Wide FDA Approval”
New StockTwits CEO Looks to Expand Share of Investor Community
If you do a Google search for AAPL, the stock ticker for Apple, the top search results are typically Yahoo Finance, Twitter, Google Finance—and StockTwits, a social media communications platform for Wall Street traders and active retail investors. After taking over roughly six months ago, StockTwits CEO Ian Rosen made one of his first strategic … Continue reading “New StockTwits CEO Looks to Expand Share of Investor Community”
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”
StockTwits Buys Mobile App SparkFin to Extend Fintech Services
StockTwits, the Twitter-like social media platform for sharing stock market tips and ideas, has acquired San Diego’s SparkFin, a fintech mobile app for discovering and sharing stocks and other investment ideas. Financial terms of the deal were not disclosed. The common denominator in both companies is Howard Lindzon, the Wall Street trader and hedge fund … Continue reading “StockTwits Buys Mobile App SparkFin to Extend Fintech Services”
Cytori Buys San Antonio-based Azaya’s Drug Delivery Tech for Stock
San Antonio — Cytori Therapeutics, a San Diego, CA-based developer of drugs that use patients’ own fat tissues to make cellular therapies, is buying the assets of San Antonio-based Azaya Therapeutics in a mostly stock deal, with potential future payments that are dependent on the progress of two drug candidates Cytori is acquiring. Azaya shareholders … Continue reading “Cytori Buys San Antonio-based Azaya’s Drug Delivery Tech for Stock”
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”
Startup Aims AI System for Safety, with Potential for Self-Driving
Over the past 25 years or so, San Diego has become a hub for innovation in telematics, and in providing technologies and services that enable long-haul trucking companies and other fleet operators to monitor the location and operation of their vehicles. Qualcomm (NASDAQ: [[ticker:QCOM]]) pioneered the use of satellite-based messaging and vehicle tracking technology in … Continue reading “Startup Aims AI System for Safety, with Potential for Self-Driving”
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”
Next Coast Ventures Latest Addition to Austin’s Investment Ecosystem
Austin—Mike Smerklo, co-founder of Next Coast Ventures in Austin, says his venture firm brings a key ingredient to investing: entrepreneurial experience. “We just believe that relevant experience is more important than anecdotal evidence,” he says of himself and co-founder Tom Ball, who have led companies such as ServiceSource, Nucleus Growth, Openfield, and eCoupons, which was … Continue reading “Next Coast Ventures Latest Addition to Austin’s Investment Ecosystem”
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”
Social Fund-raising Website GoFundMe Buys Detroit Rival CrowdRise
GoFundMe, the Redwood City, CA-based fund-raising platform for charities and nonprofits, has acquired CrowdRise, a Detroit, MI-based rival founded by entrepreneurs Robert Wolfe and Jeffrey Wolfe, and Hollywood philanthropists Edward Norton and Shauna Robertson. Financial terms were not disclosed in a statement issued Tuesday by GoFundMe. Brad Damphousse and Andy Ballester founded GoFundMe in San … Continue reading “Social Fund-raising Website GoFundMe Buys Detroit Rival CrowdRise”
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”
Correlation Ventures Raises $200M, Maintains Its “Moneyball” Strategy
Correlation Ventures, a co-investing venture firm that uses analytic software to optimize its decisions, said today it has raised $200 million for its oversubscribed second fund. The firm, which has offices in San Diego, Palo Alto, and New York, said it now has $366 million in assets under management. Investors in the fund include college … Continue reading “Correlation Ventures Raises $200M, Maintains Its “Moneyball” Strategy”
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”
J&J, NY State to Form Biotech Incubator in Big Apple’s Genome Center
New York State Governor Andrew Cuomo is planning to use some of the cash from his recently announced $650 million biotech initiative on Manhattan’s biggest life sciences problem—lack of lab space. Cuomo will put $17 million in state funding towards a new biotech startup incubator that will be situated in the New York Genome Center … Continue reading “J&J, NY State to Form Biotech Incubator in Big Apple’s Genome Center”
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)”
Avidity Biosciences Receives $16,000,000 Series B Funding
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=8489cd83-b1db-4aa2-84bd-ad318cac3dee Date 1/6/2017 Company Name Avidity Biosciences Mailing Address 10975 North Torrey Pines Road La Jolla, CA 92037 USA Company Description Avidity Biosciences LLC offers research, development, and manufacturing of drug candidates which include antibody-siRNA complexes. Website http://www.aviditybiosciences.com Transaction Type Venture Equity Transaction Amount $16,000,000 Transaction Round Series B Proceeds Purposes Proceeds … Continue reading “Avidity Biosciences Receives $16,000,000 Series B Funding”
Molecular Stethoscope Garners $8,200,000 Seed Funding Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=9f0f8b88-eccd-444c-badc-cead54694f48 Date 1/6/2017 Company Name Molecular Stethoscope Mailing Address 10835 Road to the Cure San Diego, CA 92121 USA Company Description The development of genomic measurement technologies and reference databases such as the Human Genome Project (2000) has enabled the use of blood to reliably obtain genetic information. Website http://www.molecularstethoscope.com Transaction Type … Continue reading “Molecular Stethoscope Garners $8,200,000 Seed Funding Round”
Grail Raising $1 Billion To Fund Trials For Cancer DNA Test
Grail, the Menlo Park, CA-based startup unveiled last year by genome sequencing firm Illumina (NASDAQ: [[ticker:ILMN]]), plans to raise more than $1 billion from undisclosed strategic industry partners and other investors, according to a statement today from Illumina. The plans were first reported last month by Fast Company. Grail has hired Goldman Sachs to handle … Continue reading “Grail Raising $1 Billion To Fund Trials For Cancer DNA Test”
PvP Biologics Raises $35M in a Lab-to-Pharma Deal with Takeda
[Corrected 1/5/17, 8:07 am to show company was spun out of UW two months ago.] A San Diego-based startup spun out from the University of Washington just two months ago is today announcing a $35 million deal with Takeda, Japan’s biggest pharmaceutical. PvP Biologics was founded to advance KumaMax, a synthetic enzyme (depicted in the … Continue reading “PvP Biologics Raises $35M in a Lab-to-Pharma Deal with Takeda”
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”
Bitvore Secures $3,451,289 New Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=8f50b4dd-6d89-418b-96ca-1bb0329c3e0b Date 1/5/2017 Company Name Bitvore Mailing Address 8915 Research Drive Irvine, CA 92618 USA Company Description Businesses need to stay on top of the information flowing on the internet. Bitvore solves this by systematically searching out this information, indexing it and intelligently correlating key changes to your portfolio, competitors, customers and … Continue reading “Bitvore Secures $3,451,289 New Financing Round”
Companion Medical Secures $1,000,000 New Funding Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=46a2da12-5543-4e75-b677-b557c7de207f Date 1/5/2017 Company Name Companion Medical Mailing Address Undisclosed San Diego, CA 92107 USA Company Description Creating medical devices to simplify life Website http://www.companion-medical.com Transaction Type Debt Transaction Amount $1,000,000 Transaction Round Undisclosed Proceeds Purposes Proceeds purposes were not disclosed. 5 investors participated in the offering. The amount may include options, … Continue reading “Companion Medical Secures $1,000,000 New Funding Round”
Sonendo Secures $4,000,006 New Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=6497e54e-6423-4339-ba15-e9888e0f332e Date 1/5/2017 Company Name Sonendo Mailing Address 26061 Merit Circle Laguna Hills, CA 92653 USA Company Description Founded in 2006 as Dentatek Corporation by life science-focused accelerator Fjord Ventures, LLC, Sonendo is a privately-held company developing innovative technologies to transform endodontic therapy. Website http://www.sonendo.com Transaction Type Venture Equity Transaction Amount $4,000,006 … Continue reading “Sonendo Secures $4,000,006 New Financing Round”
HLI Adds Cynthia Collins as CEO, Venter Moves to Executive Chairman
Human genome pioneer J. Craig Venter, who disclosed last month he’s being treated for prostate cancer, is moving into a new role as executive chairman at Human Longevity (HLI), the San Diego genomics startup he co-founded in 2013. Cynthia Collins, who previously led GE Healthcare’s cell therapy and purification and analysis businesses, is replacing Venter … Continue reading “HLI Adds Cynthia Collins as CEO, Venter Moves to Executive Chairman”
Edico Genome’s Deal with Dell EMC Fits Partnership Strategy
San Diego’s Edico Genome is now in its fourth year as a startup, and well into the hard slog of striking partnership deals, generating revenue, and building a business. Founding CEO Pieter van Rooyen started Edico with the idea of developing a specialized processor to accelerate the way genome sequencing data gets processed. Today Edico … Continue reading “Edico Genome’s Deal with Dell EMC Fits Partnership Strategy”
Trump Administration Needs To Set U.S. Cybersecurity Mandates
Cybersecurity is the penultimate existential risk to the United States—economically, militarily, socially, and as we have seen recently, politically. The nature of cyber is asymmetric, and given the size of the U.S. economy, our reliance on intellectual property, and the leadership role the U.S. plays in the Community of Nations, we have a lot more … Continue reading “Trump Administration Needs To Set U.S. Cybersecurity Mandates”
For 2017, Concerns on Immigration, Net Neutrality, & Cyber Warfare
I have many concerns about how the upcoming Trump administration will impact the overall tech economy. Some of my biggest worries are as follows: 1) More restrictive immigration laws will make it even harder for startups (as well as more established companies) to attract and retain the highly skilled workers that they need to be … Continue reading “For 2017, Concerns on Immigration, Net Neutrality, & Cyber Warfare”
Versant Closes on $400M Fund, Eyes More Biotech Deals in Europe
Versant Ventures now has $400 million in its coffers to fuel its pursuit of early-stage healthcare technologies and startups, and it has a particular goal of expanding its investment approach in Europe. With the closing of its sixth fund announced Tuesday, San Francisco-based Versant now aims to invest in as many as 25 companies in … Continue reading “Versant Closes on $400M Fund, Eyes More Biotech Deals in Europe”
Top Cybersecurity Lesson from 2016: Unchecked Insiders
An unmistakable lesson from 2016 is that there is an escalating arms race between hackers and the organizations they target—from the highest levels of national governments to corporations and private institutions. And while hackers have many advantages, there are two that are contributing to a rampant spike in cyber breaches right now: 1. Employees, contractors, … Continue reading “Top Cybersecurity Lesson from 2016: Unchecked Insiders”
Diverse Workforces Support the Growth of North Texas Innovation
We have made it a priority since the inception of the DEC to incorporate diversity into all that we do. We have hired a diverse workforce. We have created programs focused on diverse audiences including gender, age, religion, ethnicity, political affiliation, and more. We have made all of this a priority not only because it … Continue reading “Diverse Workforces Support the Growth of North Texas Innovation”