Carol Addy has been appointed chief medical officer of France-based Genfit (NASDAQ: [[ticker:GNFT]]). She will be based at the company’s Cambridge, MA, office. Addy, an endocrinologist, was most recently the chief medical officer of Merck (NYSE: [[ticker:MRK]]) subsidiary Health Management Resources. Genfit’s lead drug candidate, elafibranor, is currently in late-stage testing as a treatment for … Continue reading “Genfit Names Carol Addy to Chief Medical Officer Role”
As New CEO of Cerevel, Coles Moves From One Neuro Startup to Another
Tony Coles, the biotech veteran who once steered Onyx Pharmaceuticals into a $10 billion buyout, has left one neurology startup to join another. Coles on Monday was named the CEO of Cerevel Therapeutics, a Boston company that Pfizer (NYSE: [[ticker:PFE]]) and Bain Capital launched in October 2018 with $350 million in funding. The appointment marks the … Continue reading “As New CEO of Cerevel, Coles Moves From One Neuro Startup to Another”
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”
Home Buying Tech Startup Savvy Lane Lands $2M for West Coast Growth
Savvy Lane, a startup developing technology and services to help lower the cost of buying or selling a home, announced Friday it has raised $2 million in outside investment to support its growth. Seattle-based Savvy Lane did not identify the investor that provided the funding, saying only that it came from “a notable public company … Continue reading “Home Buying Tech Startup Savvy Lane Lands $2M for West Coast Growth”
Frequency Plans IPO for Hearing Loss Drug & More Regenerative Meds
Hearing loss affects millions of Americans but to date, there are no FDA-approved medicines to treat them. Frequency Therapeutics is developing a hearing loss drug that taps into the body’s regenerative capabilities. As the company prepares to advance the experimental treatment to mid-stage studies, it is planning an IPO to finance the research. Frequency set … Continue reading “Frequency Plans IPO for Hearing Loss Drug & More Regenerative Meds”
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”
Boston Tech Watch: MIT Epstein, Notarize Cash, New Carbonite Execs
For a week shortened by the Labor Day holiday heralding the coming end of summer, the past few days yielded their fair share of Boston-area technology business news. Read on for a roundup of the news. —MIT Media Lab co-founder Nicholas Negroponte reportedly argued it was right to take money from disgraced financier and convicted … Continue reading “Boston Tech Watch: MIT Epstein, Notarize Cash, New Carbonite Execs”
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”
Novartis & IFM Team Up Again, With Buyout Option for Autoimmune R&D
IFM Therapeutics has lined up another pact with a big pharma company, and it’s the second one in less than a year with Novartis. Boston-based IFM Therapeutics announced Thursday that Novartis (NYSE: [[ticker:NVS]]) has agreed to pay the research and development costs of IFM Due, a subsidiary developing immunotherapies for inflammatory and autoimmune diseases. Novartis … Continue reading “Novartis & IFM Team Up Again, With Buyout Option for Autoimmune R&D”
Startup Aquacycl Raises $4M To More Efficiently Treat Wastewater
Making beer is a water-intensive process: Along with the water that goes into the product itself, another five to seven gallons of wastewater is produced for every gallon of the good stuff because of cleaning, cooling, and packing during a brew. The leftover grains and unused water, chock-full of sugars and alcohol, is expensive to … Continue reading “Startup Aquacycl Raises $4M To More Efficiently Treat Wastewater”
Cogito Raises $20M to Expand Call Center Emotional Intelligence
Cogito CEO Joshua Feast isn’t convinced that artificial intelligence will topple the staffing model for call centers. Customer service is not destined—at least anytime soon, he believes—to be handed off completely to voice assistant chatbots that can handle all the problems and frustrations a customer can send through a phone line. “I believe humans will … Continue reading “Cogito Raises $20M to Expand Call Center Emotional Intelligence”
SF’s Ginger Raises $35M in Burgeoning Digital Therapeutics Market
Ginger, a San Francisco-based digital health startup developing software to help patients manage mental and behavioral health conditions, announced Wednesday it has raised $35 million from investors to offer its service to more people who experience stress, depression, and other conditions. People can use Ginger’s mobile app to participate in virtual therapy sessions with behavioral … Continue reading “SF’s Ginger Raises $35M in Burgeoning Digital Therapeutics Market”
Synlogic’s C-Suite Adds Richard Riese, CFO Todd Shegog to Depart
Synlogic (NASDAQ: [[ticker:SYBX]]) has appointed Richard Riese to serve as chief medical officer. Riese was most recently vice president of clinical development at Alnylam Pharmaceuticals (NASDAQ: [[ticker:ALNY]]). In other moves, Synlogic announced that Todd Shegog, the company’s chief financial officer, will leave on Sept. 18 to pursue another opportunity. In a securities filing, Synlogic said … Continue reading “Synlogic’s C-Suite Adds Richard Riese, CFO Todd Shegog to Depart”
As Clean Power Buying Surges, LevelTen Helps Firms Track Energy Data
LevelTen Energy, a Seattle-based startup that helps corporations make renewable energy purchases, on Wednesday released new performance monitoring software it says allows users to better track energy usage, market data, and other key metrics. Launched in 2016, LevelTen seeks to give more businesses access to the power purchase agreements that large corporations and other energy … Continue reading “As Clean Power Buying Surges, LevelTen Helps Firms Track Energy Data “
Bankrupt uBiome Says Founders May Have Misled Investors
[Updated, 9/5/19, 1:17am. See below.] Less than a year after reeling in a $83 million investment round, privately held microbiome startup uBiome has filed for bankruptcy and says its founders might have misled those investors amid other potential improper business practices. The allegations of impropriety, made more dramatic by an FBI raid earlier this year, … Continue reading “Bankrupt uBiome Says Founders May Have Misled Investors”
Bolt Biotherapeutics Taps Ex-Alder Executive Randy Schatzman as CEO
Randy Schatzman, the former chief executive of Alder BioPharmaceuticals (NASDAQ: [[ticker:ALDR]]), has been appointed CEO of Bolt Biotherapeutics. He is also joining the Redwood City, CA, company’s board of directors. Schatzman was CEO of Alder from its founding in 2004 until last year, when he left the company. Bolt Bio raised $54 million in February … Continue reading “Bolt Biotherapeutics Taps Ex-Alder Executive Randy Schatzman as CEO”
Former Nightstar Exec Gregory Robinson Joins Akouos as Chief Scientific Officer
Gregory Robinson has joined Akouos as chief scientific officer, the same position he held at gene therapy developer Nightstar Therapeutics. Nightstar was acquired by Biogen (NASDAQ: [[ticker:BIIB]]) earlier this year. Robinson’s experience also includes positions at Agilis Biotherapeutics, Shire, and Eyetech Pharmaceuticals. In other moves, Akouos co-founder Michael McKenna expanded his role to full-time chief … Continue reading “Former Nightstar Exec Gregory Robinson Joins Akouos as Chief Scientific Officer”
Vir Bio Plans IPO to Fund Clinical Trials of Infectious Disease Drugs
Vir Biotechnology assembled its pipeline of infectious disease compounds through deal-making with other drug developers, along with financial support from blue-chip venture capital firms and the non-profit Bill & Melinda Gates Foundation. Now the biotech is turning to the public markets for the cash to continue clinical tests of its most advanced drug candidates. San … Continue reading “Vir Bio Plans IPO to Fund Clinical Trials of Infectious Disease Drugs”
Accent Therapeutics Taps Tango’s Shakti Narayan for CEO
Shakti Narayan has joined Accent Therapeutics as CEO and member of the company’s board of directors. Narayan comes to Lexington, MA-based Accent from Tango Therapeutics, where he was chief business officer for the past two years. His experience also includes positions at Johnson & Johnson Innovation and Nodality. Accent raised $40 million in Series A … Continue reading “Accent Therapeutics Taps Tango’s Shakti Narayan for CEO”
Former Alnylam Executive Soni Joins Reata Pharmaceuticals as CFO
Reata Pharmaceuticals (NASDAQ: [[ticker:RETA]]) has appointed Manmeet Soni to serve as chief financial officer and executive vice president. With Soni’s hire, James Wilson, CFO and executive vice president of strategy, will shift to a new role as Reata’s executive vice president of operations. Soni stepped down as CFO of Alnylam Pharmaceuticals (NASDAQ: [[ticker:ALNY]]) last month. … Continue reading “Former Alnylam Executive Soni Joins Reata Pharmaceuticals as CFO”
Aristea Therapeutics Taps Nihar Bhakta as Chief Medical Officer
Aristea Therapeutics on Tuesday announced the appointment of Nihar Bhakta as chief medical officer. Bhakta, most recently project team leader at Gossamer Bio (NASDAQ: [[ticker:GOSS]]), has also held roles at Bristol-Myers Squibb (NYSE: [[ticker:BMY]]), Roche, and Ardea Biosciences, which was acquired by AstraZeneca (NYSE: [[ticker:AZN]]) in 2012. San Diego-based Aristea, a clinical-stage company launched in … Continue reading “Aristea Therapeutics Taps Nihar Bhakta as Chief Medical Officer”
Vertex Bets $950M on Semma and a Stem Cell Therapy for Diabetes
Vertex Pharmaceuticals is paying $950 million to acquire Semma Therapeutics, a biotech startup developing a stem cell therapy for type 1 diabetes. The deal announced Tuesday is Vertex’s first step into the diabetes field and is the latest in a string of moves the Boston company has made to diversify beyond its core franchise of … Continue reading “Vertex Bets $950M on Semma and a Stem Cell Therapy for Diabetes”
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”
As Cholesterol Drug Aces Big Test, MedCo CEO Open to Flexible Pricing
The Medicines Co. (NASDAQ: [[ticker:MDCO]]) announced last week that its cholesterol-lowering medicine inclisiran, meant to be taken just twice a year, had passed a key test but offered no details. Some of those details arrived this morning. At a medical meeting in Paris, a presentation from the test, a 1,617-patient Phase 3 study called ORION-11, … Continue reading “As Cholesterol Drug Aces Big Test, MedCo CEO Open to Flexible Pricing”
Patent Challenge to Alexion Proceeds, But No Amgen Biosimilar Yet
Three patents that extend the exclusivity of Alexion Pharmaceuticals’ franchise rare disease drug will now face a patent challenge from Amgen. On Friday, a court within the US Patent and Trademark Office agreed to a review of Amgen’s claims that three Alexion (NASDAQ: [[ticker:ALXN]]) patents covering its drug, eculizumab (Soliris), were anticipated or obvious, and … Continue reading “Patent Challenge to Alexion Proceeds, But No Amgen Biosimilar Yet”
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”
Boston Tech Watch: DraftKings Drives, The Engine Revs, NuTonomy Swaps
[Updated 12:35 pm, 8/30/19. Clarified new DraftKings venture.] Welcome to August’s automotive-themed tech news round-up. This week’s batch of news features a dose of updates that range from self-driving cars to funds or new ventures that sound close enough to being automotive-related (but aren’t) that I just couldn’t pass up making a point about it. … Continue reading “Boston Tech Watch: DraftKings Drives, The Engine Revs, NuTonomy Swaps”
$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”
Ring Confirms Report, Says It Works With More Than 400 Police Agencies
Ring, the Amazon-owned maker of camera-equipped doorbells that let users monitor activity around their homes, has confirmed exactly how extensive its video-sharing deal is with law enforcement agencies around the US. Ring has partnered with 405 US police forces to allow officers to request footage recorded by local residents’ devices, Ring CEO Jamie Siminoff wrote … Continue reading “Ring Confirms Report, Says It Works With More Than 400 Police Agencies”
Scholar Rock CFO Rhonda Chicko to Leave in September
Scholar Rock (NASDAQ: [[ticker:SRRK]]) announced that Rhonda Chicko, the company’s chief financial officer, is leaving to “pursue other opportunities.” The Cambridge, MA-based drug developer gave no other details about Chicko’s plans other than to say that she will stay on the job through Sept. 30 to help with the transition of her responsibilities. A search … Continue reading “Scholar Rock CFO Rhonda Chicko to Leave in September”
Azitra Appoints Mark Sampson Chief Scientific Officer
Mark Sampson has joined Azitra as chief scientific officer. Travis Whitfill, co-founder and chief science officer of the Farmington, CT-based company, will take on new roles as executive director of advanced technology and chair of the scientific advisory board. Sampson’s experience includes positions at Realm Therapeutics, Sterilox Technologies, and Warwick International. Atriza is developing microbiome-based … Continue reading “Azitra Appoints Mark Sampson Chief Scientific Officer”
Ex-Nektar Exec Maninder Hora Joins Amunix Pharmaceuticals C-Suite
Amunix Pharmaceuticals has appointed Maninder Hora to serve as chief technical operations officer, the same position he held at Nektar Therapeutics (NASDAQ: [[ticker:NKTR]]). Mountain View, CA-based Amunix is developing a type of cancer drug called a T cell engager using technology that the company says overcomes the limitations of these immunotherapies.
Celgene Adds Cell Therapies From Immatics With Bristol Sale in Sight
Even as its sale to Bristol-Myers Squibb (NYSE: [[ticker:BMY]]) inches closer to completion, Celgene—long known for its web of biotech partnerships—has inked another alliance. Celgene (NASDAQ: [[ticker:CELG]]) will co-develop three cell therapies for cancer with Immatics, a German biotech with ties to MD Anderson Center Center in Houston. Celgene will pay Immatics $75 million in … Continue reading “Celgene Adds Cell Therapies From Immatics With Bristol Sale in Sight”
ThoughtSpot Nabs $248M for Accessible Analytics, Nears $2B Valuation
ThoughtSpot, a software company formed to make data analytics accessible for business staffers without data science expertise, announced today it raised $248 million in a Series E funding round that set its valuation at $1.95 billion. Sunnyvale, CA-based ThoughtSpot, founded in 2012, made it a core mission to enable its customers’ non-technical workers to mine … Continue reading “ThoughtSpot Nabs $248M for Accessible Analytics, Nears $2B Valuation”
Ionis Gets $25M From GSK for Experimental Hepatitis B Program
Infections caused by the hepatitis B virus, which attacks the liver, are typically treated with drugs that keep the virus from making ever more copies of itself. However, because those treatments reduce but don’t eliminate the virus, patients have to take the drugs indefinitely, according to the World Health Organization. Ionis Pharmaceuticals (NASDAQ: [[ticker:IONS]]) has … Continue reading “Ionis Gets $25M From GSK for Experimental Hepatitis B Program”
NuTonomy Switches to Chrysler For More Elbow Room in Self-Driving Cars
There’s a time in a self-driving car company’s life where a minivan is just more sensible than a sleek, European city car. NuTonomy, the autonomous vehicle startup spun out of MIT that’s putting its systems through their paces on the streets of South Boston, says it has “decommissioned” its fleet of five-door, “supermini” electric cars … Continue reading “NuTonomy Switches to Chrysler For More Elbow Room in Self-Driving Cars”
Seattle Startup Funding Tidbits: Blokable, Zenoti, PTO Exchange
Keep up with venture capital funding activity in the Seattle area with recent news from three local startups. The companies—Blokable, Zenoti Software, and PTO Exchange—are developing software and other tech-enabled products for three very different industries: housing, spas, and finance. Read on for details. —Blokable, a Seattle-based startup that designs and manufactures modular housing components … Continue reading “Seattle Startup Funding Tidbits: Blokable, Zenoti, PTO Exchange”
Sesen Bio’s Richard Fitzgerald to Depart, Monica Forbes Is Named CFO
Richard Fitzgerald, chief financial officer of Sesen Bio (NASDAQ: [[ticker:SESN]]) for the past 19 months, will leave the company on Aug. 30, the company announced Monday. Cambridge, MA-based Sesen gave no reason for Fitzgerald’s departure. Monica Forbes, the company’s vice president of finance, was promoted to CFO effective immediately. Sesen, formerly known as Eleven Biotherapeutics, … Continue reading “Sesen Bio’s Richard Fitzgerald to Depart, Monica Forbes Is Named CFO”
Current Trends in Translational Oncology
From the event organizer: Join Boston’s leading oncology innovators at the Boston Museum of Science for Champions Oncology’s 1st Annual Boston Symposium: Current Trends in Translational Oncology. Learn from experts about their current therapeutic approach to today’s oncology challenges. Gain insight on how to further support your oncology and immuno-oncology drug development programs, from preclinical and … Continue reading “Current Trends in Translational Oncology”
Space Venture’s Tom Neary Lands at SEngine as Chief Financial Officer
Tom Neary has been appointed chief financial officer of SEngine Precision Medicine. Neary most recently worked as CFO at Space Venture Partners, and prior to that as the top financial executive for Spaceflight Industries. His experience also includes positions at Microsoft (NASDAQ: [[ticker:MSFT]]). Seattle-based SEngine has commercialized a diagnostic test used to match a patient … Continue reading “Space Venture’s Tom Neary Lands at SEngine as Chief Financial Officer”
FibroGen Founder and CEO Thomas Neff Passes Away Unexpectedly
Thomas Neff, the founder, CEO, and chairman of FibroGen (NASDAQ: [[ticker:FGEN]]), has passed away. The San Francisco-based biotech did not disclose any details other than to say Neff’s death over the weekend was unexpected. Board member James Schoeneck has been named interim CEO while the company searches for Neff’s permanent successor. Neff founded FibroGen in … Continue reading “FibroGen Founder and CEO Thomas Neff Passes Away Unexpectedly”
Celgene to Sell Blockbuster Drug to Amgen for $13B to Close BMS Deal
Celgene is selling a blockbuster anti-inflammatory drug to Amgen for $13.4 billion cash, a deal needed to close the company’s pending $74 billion acquisition by Bristol-Myers Squibb. Bristol-Myers (NYSE: [[ticker:BMY]]) is still working to complete the proposed acquisition of Celgene (NASDAQ: [[ticker:CELG]]) that was announced in January. In June, Bristol-Myers said that Celgene drug apremilast … Continue reading “Celgene to Sell Blockbuster Drug to Amgen for $13B to Close BMS Deal”
For GW Pharma CEO Justin Gover, The CBD Trend Started 20 Years Ago
[Corrected 8/27/19, 1:18 p.m. PT. See below.] Remember the simpler times of the mid-2010s, when you could order a latte or cocktail in California without the option of adding CBD? For Justin Gover, CEO of British drugmaker GW Pharmaceuticals (NASDAQ: [[ticker:GWPH]]), society’s sudden embrace of cannabidiol (CBD), the other active ingredient found in the cannabis plant, … Continue reading “For GW Pharma CEO Justin Gover, The CBD Trend Started 20 Years Ago”
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”
VMware: “We Bought Carbon Black for $2.1B!” Analysts: “Oh… Why?”
The deal VMware unveiled this week to buy cybersecurity firm Carbon Black triggered a heaping share of skepticism. “I’m having a hard time with the Carbon Black acquisition,” said Jeffries analyst John Stephen DiFucci on a conference call with VMware executives. “I get that Carbon Black is part of that next-gen player. … But I … Continue reading “VMware: “We Bought Carbon Black for $2.1B!” Analysts: “Oh… Why?””
GSK’s Cancer Comeback Continues With Data for Multiple Myeloma Drug
An experimental GlaxoSmithKline treatment for multiple myeloma has achieved the main goal of a key study, and the drug maker plans to file for regulatory approval by the end of this year. GlaxoSmithKline (NYSE: [[ticker:GSK]]) said Friday that treatment with its drug, belantamab mafodotin, showed a “clinically meaningful overall response rate” in the study. The … Continue reading “GSK’s Cancer Comeback Continues With Data for Multiple Myeloma Drug”
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”
Boston Tech Watch: Epstein, MIT Media Lab, Carbon Black, JRNI & More
A slower news week for Boston technology news, but not without its fireworks. Among them: Researchers are not taking the news well that MIT Media Lab director Joi Ito had extensive financial arrangements with Jeffrey Epstein, the convict and alleged child sex trafficker who committed suicide earlier this month awaiting trial. Read on for more. … Continue reading “Boston Tech Watch: Epstein, MIT Media Lab, Carbon Black, JRNI & More”