It’s been a strange up and down ride for PARP inhibitors, a relatively new class of cancer drugs. Named for the tumor protein they target, PARPs rebounded after a big clinical setback in 2011 and have been at the center of many buyouts and big alliances—Pfizer and Medivation, GlaxoSmithKline and Tesaro, AstraZeneca and Merck. Four … Continue reading “Bio Roundup: PARP Progress, A New Commish, IPO-Palooza & More”
Category: Wisconsin
Nuance Spinout Cerence Vies With Tech Giants in Voice-AI for Auto
A new mobility company, Cerence, is making its public-market debut Wednesday, and its first CEO, Sanjay Dhawan, says he’s been meeting with more than 50 investors in recent weeks to talk up its prospects. Cerence is a spinout from pioneering speech recognition company Nuance Communications (NASDAQ: [[ticker:NUAN]]), and it will carry on the work of … Continue reading “Nuance Spinout Cerence Vies With Tech Giants in Voice-AI for Auto”
We’re Beginning to Realize the Cloud’s Full Potential at the Edge
Amazon Web Services (AWS), the first “public cloud” offering third-party data storage and compute services, launched in March 2006, and by 2012, there were multiple credible competitors. The hype was strong. Back then, cloud evangelists were predicting that essentially everything in the enterprise data center would migrate to one of just a few public clouds. … Continue reading “We’re Beginning to Realize the Cloud’s Full Potential at the Edge”
ESMO 2019: PARP and Prostate, SeaGen’s Win, KRAS Update & More
The European Society for Medical Oncology meeting has wrapped up in Barcelona, the last major clinical cancer conference until December’s annual ASH meeting for blood diseases. We’ve highlighted a few top stories for you. Amid all the fuss over cell, gene, and immunotherapies these days, an old-fashioned small-molecule class of drug called PARP inhibitors have … Continue reading “ESMO 2019: PARP and Prostate, SeaGen’s Win, KRAS Update & More”
Biotech Roundup: Vaping Toll Rises, NASH News, Akcea Shakeup & More
Lung injuries linked to electronic cigarettes have topped 800 cases, including 12 deaths, according to the Centers for Disease Control and Prevention. Public health officials aren’t sure whether the injuries are from legally sold products made by companies such as Juul, or from black-market items such as those that allow users to “vape” the active … Continue reading “Biotech Roundup: Vaping Toll Rises, NASH News, Akcea Shakeup & More”
Report: IPO Activity Picking Back Up Following Quiet, Volatile Q3
While the headlines may be dominated by news of WeWork putting its IPO on hold after reports about its questionable corporate governance, the overall initial public offering market is doing just fine. So far, 127 US companies went public in the first nine months of the year and the amount they raised already topped three … Continue reading “Report: IPO Activity Picking Back Up Following Quiet, Volatile Q3”
Drug Pricing: Innovation, Investment, and the Public Good
The US biotech and life sciences industry has a long and proud history of driving medical innovations that have improved healthcare outcomes across a wide range of diseases and the overall quality of life for people worldwide. For too long, however, the industry’s narrative has been dominated and defined by partisans with a specific agenda … Continue reading “Drug Pricing: Innovation, Investment, and the Public Good”
FDA Decision Expands Market for Exact Sciences’ Cologuard Test
Exact Sciences has taken another step toward ramping up sales of its flagship product, a non-invasive, stool-based screening test for colorectal cancer. The FDA has approved the test, Cologuard, for eligible, average-risk patients ages 45 and older, which expands the market that Madison, WI-based Exact can address with its product. The Monday decision by the … Continue reading “FDA Decision Expands Market for Exact Sciences’ Cologuard Test”
Enough with the Insanity. We Need to Fix Cybersecurity Now
The year 2019 has been another dreadful period for cyberattacks. The most notorious lowlights include: —More than 40 municipalities, including Baltimore, Albany and 22 cities in Texas alone, have seen their computer systems crippled by ransomware attackers demanding millions of dollars. —In one of the largest data breaches ever, a hacker broke into a Capital One server with a … Continue reading “Enough with the Insanity. We Need to Fix Cybersecurity Now”
Bio Roundup: Pelosi’s Reveal, Alder’s Deal, Biogen’s Fails & More
Boston, San Francisco, and a few other metro areas might dominate the US life sciences, but some weeks, all bio-related eyes are on the nation’s capital. Health concerns about vaping continue to mount, and the feds could get involved. Meanwhile, try to find someone in the federal government who isn’t involved in the drug-price debate. … Continue reading “Bio Roundup: Pelosi’s Reveal, Alder’s Deal, Biogen’s Fails & More”
Pelosi, Dems Unveil Price Plan: Are 25 Drugs Enough for Negotiation?
With the 2020 election just over a year away, House Speaker Nancy Pelosi (D-CA) has unveiled the Democratic Party’s answer to public discontent over high prescription drug prices. A preview of the plan was leaked last week. Today’s announcement doesn’t stray far. The new plan would have the U.S. Department of Health and Human Services … Continue reading “Pelosi, Dems Unveil Price Plan: Are 25 Drugs Enough for Negotiation?”
WI Watchlist: MSI Data, Cellular Dynamics, WARF, Redox, & More
It’s time to catch up on recent news in Wisconsin’s innovation community. Read on for details. —MSI Data, a Milwaukee-based business that develops software for organizations in the equipment distribution and service contractor industries, said it received an investment from Luminate Capital Partners, a San Francisco-based private equity firm. The amount was not disclosed. Launched … Continue reading “WI Watchlist: MSI Data, Cellular Dynamics, WARF, Redox, & More”
Why Menlo Ventures Backed Construction Tech Firm Fieldwire
[Corrected 9/17/2019, 8:58 a.m, and 9/18/19, 4:53 p.m. See below.] Fieldwire, whose mobile app helps builders and construction crews coordinate their work, announced today it has lined up a total of $33.5 million across two newly disclosed fundraising rounds. The San Francisco-based construction tech company says it raised $8.5 million in a Series B funding … Continue reading “Why Menlo Ventures Backed Construction Tech Firm Fieldwire”
Bio Roundup: Award Winners, Lung Data, Dems on Drug Pricing & More
For decades, advanced lung cancer was a quick death sentence. That’s no longer a given, thanks in part to the arrival of immunotherapy. If a medical meeting in Barcelona this week was any indication, more help could be on the way. Targeted medicine isn’t new to lung cancer, but only a fraction of patients have … Continue reading “Bio Roundup: Award Winners, Lung Data, Dems on Drug Pricing & More”
Booming CS Demand Brings Ex-Acquia CEO Back to His UW Roots
Tom Erickson was ready to retire to Australia. But then the Wisconsin native and veteran technology executive got an offer from his alma mater that he decided he couldn’t pass up. This month, the University of Wisconsin-Madison named Erickson founding director of its School of Computer, Data & Information Sciences (CDIS). The school, part of … Continue reading “Booming CS Demand Brings Ex-Acquia CEO Back to His UW Roots”
After First Look at House Drug Plan, Stocks Rise Slightly
The first details of the long-awaited House Democrat plan to lower drug prices leaked out Monday night, with elements that have long been anathema to the biopharma industry and its supporters in Washington. While the world digested the details Tuesday, however, biopharma investors didn’t seem fazed. Some individual companies saw shares dip, but the biopharma … Continue reading “After First Look at House Drug Plan, Stocks Rise Slightly”
Herceptin Inventors, Immunology Pioneers Take Home 2019 Lasker Awards
This year’s Lasker Awards, the US’s most prestigious biomedical honor, are going to five scientists whose work led to a critical breast cancer treatment and significant basic research advances that have helped pave the way for immunotherapy. H. Michael Shepard, Dennis Slamon, and Axel Ullrich won the Lasker-DeBakey Clinical Medical Research Award for inventing trastuzumab … Continue reading “Herceptin Inventors, Immunology Pioneers Take Home 2019 Lasker Awards”
Your Car Is Hackable—Here Are Three Steps You Can Take
We’re used to protecting the information on our smartphones by keeping strong passwords and setting a lock screen. But fewer people know about the importance of protecting the information in their vehicles. Earlier this year, the automotive shopping website CarGurus asked 1,020 consumers questions about common security practices and the risks of connected cars. Here … Continue reading “Your Car Is Hackable—Here Are Three Steps You Can Take”
At Big Lung Cancer Meeting, Lights Shine on KRAS, Drug Combos & More
The treatment landscape for lung cancer has shifted significantly over the past few years, and more changes could be on the way. At the World Conference on Lung Cancer in Barcelona this weekend a number of drug makers trotted out some of their latest advances in immunotherapy, targeted pills, drug combinations, and more. Xconomy rounded … Continue reading “At Big Lung Cancer Meeting, Lights Shine on KRAS, Drug Combos & More”
Bio Roundup: MedCo’s Pricing Plan, Vertex’s Gamble, uBiome Undone
Being first to market with a new type of drug brings advantages. The first mover sets the bar for what physicians, payers, and patients can expect of that medicine and how much it costs. It grabs market share that followers have to steal away. But the first mover isn’t infallible if someone else has something … Continue reading “Bio Roundup: MedCo’s Pricing Plan, Vertex’s Gamble, uBiome Undone”
WI Watchlist: Epic, Frontdesk, Shine, StartingBlock Madison & More
With summer coming to a close, it’s time to catch up on recent happenings in Wisconsin’s innovation clusters. Read on for details. —Epic Systems, the electronic medical records giant, unveiled several new products at its annual Users Group Meeting held at its headquarters near Madison. Per a report by the Wisconsin State Journal, the additions … Continue reading “WI Watchlist: Epic, Frontdesk, Shine, StartingBlock Madison & More”
With FDA’s Eye on JAK Drugs, Concert Moves One Ahead For Hair Loss
Despite the safety concerns that have recently emerged for class of drugs known as JAK inhibitors, their reach continues to grow. The latest example comes from Concert Pharmaceuticals, which is racing the drug giant Pfizer to develop a medicine for a common skin disease that causes hair loss. Concert (NASDAQ: [[ticker:CNCE]]) is disclosing this morning … Continue reading “With FDA’s Eye on JAK Drugs, Concert Moves One Ahead For Hair Loss”
Robocalls Crowd Out Real Business Calls. This Startup Has an Answer.
The ways in which robocallers try to dupe us are becoming almost as plentiful as the frequency of the calls. An unknown phone number was once all scammers needed to trick the average person into picking up the call. Now, new hoaxes are making it increasingly difficult to avoid fraud, such as the “one ring” … Continue reading “Robocalls Crowd Out Real Business Calls. This Startup Has an Answer.”
Bio Roundup: Cholesterol Check, J&J’s Opioid Hit, AbbVie’s Flop & More
You might be camping, barbecuing, or sleeping on Monday. It’s Labor Day, after all. But in Paris, this cardiologist will be in a conference center, walking an audience through a slide deck packed with Phase 3 data for a new cholesterol-lowering drug, inclisiran. Inclisiran’s owner, the Medicines Co., jumped the presentation by a week, promising … Continue reading “Bio Roundup: Cholesterol Check, J&J’s Opioid Hit, AbbVie’s Flop & More”
$5.8B for Nothing: AbbVie Shelves Stemcentrx Drug After Latest Flop
AbbVie has officially waved the white flag on the cancer drug that triggered its $5.8 billion buyout of Stemcentrx a few years ago. North Chicago, IL-based AbbVie (NYSE: [[ticker:ABBV]]) said that rovalpituzumab tesirine, or Rova-T, failed another clinical trial—this time a Phase 3 study, MERU, testing the drug as a maintenance therapy in patients with … Continue reading “$5.8B for Nothing: AbbVie Shelves Stemcentrx Drug After Latest Flop”
New PCSK9 Cholesterol Drug Faces Tough Foe. (Hint: Not Cholesterol.)
[Updated 8/26/19, 10:30am. See below.] Remember when the new wave of expensive cholesterol-lowering drugs—known as PCSK9 inhibitors—was supposed to give the healthcare system a financial heart attack? Far from it. Four years after approval the two PCSK9 blockers on the market have yet to crack $1 billion in annual sales, combined, thanks to a gloves-off … Continue reading “New PCSK9 Cholesterol Drug Faces Tough Foe. (Hint: Not Cholesterol.)”
Why Amazon’s Ascent Spells Bad News for Mall Food Courts
The increasing popularity of Amazon’s annual Prime Day, Cyber Monday, and other online shopping-themed occasions is one of many indicators more Americans are relying on mobile devices and computers, not malls, to shop. It’s no secret the so-called “Amazon effect,” a shift in retail buying patterns toward online shopping and away from brick-and-mortar locations, has … Continue reading “Why Amazon’s Ascent Spells Bad News for Mall Food Courts”
Bio Roundup: Sarepta’s Stumble, Opioid Suits, Shkreli’s Legacy & More
Biotech news tends to slow down in August but the past seven days have been busy for regulatory decisions. Three drugs and two devices won FDA nods. Not all companies were as fortunate. Several biotechs reported failed clinical trials or unfavorable FDA decisions. The most notable one might be the rejection of a Sarepta Therapeutics … Continue reading “Bio Roundup: Sarepta’s Stumble, Opioid Suits, Shkreli’s Legacy & More”
Ford’s Autonomic Connects EV Maker Ayro to Its Mobility Cloud
Ford subsidiary Autonomic today announced a step forward in its drive to expand the online mobility hub it built to manage digital interactions among cars, drivers, fleets, service providers, and auto manufacturers—including Ford’s rivals. Palo Alto, CA-based Autonomic signed up Ayro, an electric vehicle startup, as a paying customer of its Transportation Mobility Cloud (TMC), … Continue reading “Ford’s Autonomic Connects EV Maker Ayro to Its Mobility Cloud”
Bio Roundup: Zolgensma Fallout, Duchenne Redux, Ebola Boost & More
We learned last week that the FDA was investigating Novartis for manipulating animal data related to its $2 million-a-dose gene therapy Zolgensma. The activity took place at AveXis, the firm Novartis bought for $8.7 billion in 2018, and Novartis reportedly knew but failed to report it to the FDA before the agency approved Zolgensma in … Continue reading “Bio Roundup: Zolgensma Fallout, Duchenne Redux, Ebola Boost & More”
Will Porsche Fans Ever Live in a Driverless World? Porsche Says No.
Imagine the transportation future 20 years from now. Here’s one way things could roll on a weekday: Many of us get picked up at home by a sturdy, standardized, driverless car that will also scoop up a few of our neighbors who work at other businesses near ours. Entering the highway, the vehicle automatically links … Continue reading “Will Porsche Fans Ever Live in a Driverless World? Porsche Says No.”
Four New Drugs Are Around the Corner. Here’s What You Need to Know.
[Updated, 3:40 pm ET, see below] The Food and Drug Administration approved 59 new drugs last year, a record for the agency which over the years has swung back and forth between tight control and leniency. We are in the midst of perhaps the agency’s most permissive era ever, thanks to its openness to speed … Continue reading “Four New Drugs Are Around the Corner. Here’s What You Need to Know.”
WI Watchlist: AmFam, Venture Investors, Understory, Gener8tor & More
It’s time to catch up on some recent headlines from Wisconsin’s innovation clusters: —Venture Investors and American Family Ventures are making progress on raising new venture funds. Madison-based Venture Investors has closed on $73.1 million for its latest fund, and it could grow the fund to $100 million, according to an SEC filing. Meanwhile, American … Continue reading “WI Watchlist: AmFam, Venture Investors, Understory, Gener8tor & More”
Bio Roundup: Surprise News, a Gene Therapy Mess & a CAR-T Step
Gene therapy has become one of the hottest fields in biomedicine, with two treatments approved in the US already and several more on the way. But surprise news this week regarding Zolgensma, the recently approved spinal muscular atrophy treatment, cast a cloud over its progress. The FDA revealed that Novartis subsidiary AveXis had “manipulated” data … Continue reading “Bio Roundup: Surprise News, a Gene Therapy Mess & a CAR-T Step”
AIQ Solutions Hits On $3.2M to Pinpoint Drug-Resistant Tumors
Many companies developing artificial intelligence software for healthcare are trying to improve doctors’ ability to diagnose disease. Fewer emerging healthcare AI businesses are focused on what happens after a diagnosis, aiming to figure out how treatments are working. One of them, AIQ Solutions, has developed software that analyzes medical imaging data to identify all of … Continue reading “AIQ Solutions Hits On $3.2M to Pinpoint Drug-Resistant Tumors”
Bio Roundup: Pfizer’s Future, CRISPR in Patients, Drug Imports & More
[Corrected 12:55 p.m. ET. See below.] Acquisitions made Pfizer what it is today: the world’s biggest drug maker measured by revenue. But as the company maps its future, CEO Albert Bourla is breaking some of that legacy apart. Blockbuster drugs such as Viagra, which was discovered in-house, and Lipitor, which came via acquisition, are currently … Continue reading “Bio Roundup: Pfizer’s Future, CRISPR in Patients, Drug Imports & More”
White House Floats Canadian Import Plan But Excludes Many Costly Drugs
[Updated, 6:18 p.m. ET. See below.] The Trump administration unveiled Wednesday a long-awaited plan to import cheaper medications from Canada and other countries. The US Department of Health and Human Services says the two proposals are part of the administration’s strategy to curb high prescription-drug prices, which has often been short on action despite the … Continue reading “White House Floats Canadian Import Plan But Excludes Many Costly Drugs”
Mark Levin Named Xconomy’s 2019 Lifetime Achievement Award Winner in Boston
We at Xconomy are excited to announce that we are honoring Mark Levin, co-founder and partner at Third Rock Ventures, with our 2019 Lifetime Achievement Award in Boston. The award recognizes Levin’s extensive contributions to the biotech industry and to the Boston life sciences ecosystem. Levin built Millennium Pharmaceuticals—inspiring a generation of future executives/entrepreneurs along … Continue reading “Mark Levin Named Xconomy’s 2019 Lifetime Achievement Award Winner in Boston”
Exact Sciences Buying Genomic Health in $2.8B Cancer Diagnostics Deal
[Updated 7/29/19, 10:19 am CT. See below.] With ambitious sales goals and its stock trading at an all-time high this year, cancer diagnostics firm Exact Sciences decided to go shopping. The result is a deal announced Monday to acquire Genomic Health for $2.8 billion in cash and stock, a combination that Exact CEO Kevin Conroy … Continue reading “Exact Sciences Buying Genomic Health in $2.8B Cancer Diagnostics Deal”
Duchenne Advocates Start Casimir, Aiming to Capture Missing Data
Three years ago, the FDA made one of the most polarizing decisions in its history. It approved a drug for the rare genetic disease Duchenne muscular dystrophy on the slimmest of evidence, a watershed moment that caused a highly publicized rift within the agency. In the midst of it all were parents who pushed hard … Continue reading “Duchenne Advocates Start Casimir, Aiming to Capture Missing Data”
Bio Roundup: Leiden’s Exit, Depression Data, a New Pricing Bill & More
What will the legacy be of Jeff Leiden, the longtime CEO of Vertex Pharmaceuticals? Vertex surprised Wall Street this week by announcing Leiden’s seven-year run will end next spring. In some ways, his legacy is already written. He steered Vertex through a crisis when its hepatitis C business was squashed by competition, in no small … Continue reading “Bio Roundup: Leiden’s Exit, Depression Data, a New Pricing Bill & More”
No Co-Founder? Y Combinator Offers Matchmaking at Startup School
From the moment Talia Frenkel resolved to found a company after a kitchen-table talk with her parents, the odds were against her. There were a host of reasons—she wasn’t a software engineer, she had no product development experience, and she wanted to launch a consumer item that was already sold widely by established enterprises. Yet … Continue reading “No Co-Founder? Y Combinator Offers Matchmaking at Startup School”
As Castle Bio Jumps on IPO Train, Industry Trends Suggest Slowdown
Castle Biosciences is joining the public markets through a $64 million IPO that will support cancer tests that help doctors make treatment decisions. On Wednesday evening, Castle priced its offering of 4 million shares at $16 apiece, which was the high end of its targeted price range. The Friendswood, TX, company had previously planned to … Continue reading “As Castle Bio Jumps on IPO Train, Industry Trends Suggest Slowdown”
Bristol, With Another Lung Cancer Flop, Loses More Ground to Merck
Bristol-Myers Squibb (NYSE: [[ticker:BMY]]) this afternoon revealed yet another setback for its cancer immunotherapy nivolumab (Opdivo) in lung cancer, boosting the outlook for rival Merck. The New York pharma giant said that a regimen of nivolumab (Opdivo) and chemotherapy failed to extend the lives of non-squamous, non-small cell lung cancer patients compared to chemo alone … Continue reading “Bristol, With Another Lung Cancer Flop, Loses More Ground to Merck”
The Entrepreneurial Potential of Cannabis
Recreational marijuana is now legal here in Massachusetts and it seems that everywhere you look, people are excited to create business ventures around it. But, like any other business endeavor, research, planning, and discipline are essential – maybe even more so given the legal and regulatory issues involved with cannabis. As of now, marijuana is fully legal … Continue reading “The Entrepreneurial Potential of Cannabis”
Freenome Snags $160M to Boost Blood Test for Early Cancer Detection
Freenome, one of the rivals racing to detect the earliest signs of cancer through blood tests, announced Wednesday it has raised $160 million in a Series B funding round. The money boosts Freenome’s fundraising total to $238 million. It’s a boon for the South San Francisco startup founded in 2014, but not an unusual haul … Continue reading “Freenome Snags $160M to Boost Blood Test for Early Cancer Detection”
With Regulator’s Nod, Bosch Plans Spread of Driverless Valet Parking
Mass fleets of self-driving cars have yet to arrive on our streets, but people are already worrying about where they’re going to park. If they all just circle around city blocks, competing to offer on-demand rides, they could slow traffic to a crawl, industry observers say. Autonomous robotaxi services like Alphabet unit Waymo’s are still … Continue reading “With Regulator’s Nod, Bosch Plans Spread of Driverless Valet Parking”
WI Watchlist: E-Scooters, CUNA Incubator, Curate Funding & More
[Updated 7/23/19, 8:48 am CT. See below.] It’s time to catch up on some recent Wisconsin innovation headlines: —CMFG Ventures, the venture capital arm of Madison-based CUNA Mutual Group, announced today that it’s creating a financial technology incubator in partnership with the nonprofit Filene Research Institute, a consumer finance think tank. The incubator is seeking … Continue reading “WI Watchlist: E-Scooters, CUNA Incubator, Curate Funding & More”
Could Facebook’s Crypto Break Financial System? Congress Airs Fears
In late 2017, a federal watchdog unit assigned a working group to keep an eye on cryptocurrencies such as Bitcoin, and to sound an alert if those alternate currencies showed signs of becoming a risk to the stability of the US financial system. Soaring prices of Bitcoin and other so-called digital tokens were attracting investments … Continue reading “Could Facebook’s Crypto Break Financial System? Congress Airs Fears”
Bio Roundup: Opioid Exposé, Gilead’s Gambit, Life Science IPOs & More
The opioid crisis reaches all corners of the nation, and newly released data this week revealed how the growth of the epidemic tracked with a massive increase in the production and distribution of these drugs. From 2006 to 2012, the number of pills distributed to pharmacies increased by more than 50 percent. In total, 76 … Continue reading “Bio Roundup: Opioid Exposé, Gilead’s Gambit, Life Science IPOs & More”