About 15 percent of adults in the US, around 37 million people, are estimated to have chronic kidney disease, according to the Centers for Disease Control. They have very few therapeutic options and often progress to kidney failure, which is treatable only with dialysis or transplant. Chinook Therapeutics is looking to develop new treatments to … Continue reading “New BC Biotech Chinook Reels in $65M to Tackle Kidney Disease”
VMware Dropping $4.8B to Buy Carbon Black, Pivotal Software
VMware is shelling out big bucks for two companies to fill out its technology stack: developer platform Pivotal Software for $2.7 billion and cybersecurity firm Carbon Black for $2.1 billion. “These acquisitions address two critical technology priorities of all businesses today—building modern, enterprise-grade applications and protecting enterprise workloads and clients,” VMware CEO Pat Gelsinger said … Continue reading “VMware Dropping $4.8B to Buy Carbon Black, Pivotal Software”
Frequency Therapeutics Names Dana Hilt Chief Medical Officer
Frequency Therapeutics has appointed Dana Hilt to serve as its chief medical officer, the same position he held at Lysosomal Therapeutics. His experience also includes positions at FORUM Pharmaceuticals, Guilford Pharmaceuticals, Ascend Pharmaceuticals, Critical Therapeutics, and Amgen (NASDAQ: [[ticker:AMGN]]). William Chin, Frequency’s interim CMO, will shift to a new role at the company as executive … Continue reading “Frequency Therapeutics Names Dana Hilt Chief Medical Officer”
Erasca Promotes Yeung to COO, CFO; Appoints Chacko as New CBO
Erasca, a biotech that launched in 2018 to develop cancer drugs, on Thursday announced it promoted Gary Yeung, its chief business officer, to the dual roles of chief operating and financial officer. It appointed David Chacko as its new chief business officer. Yeung previously held leadership roles at Guardant Health (NASDAQ: [[ticker:GH]]), Annexon Biosciences, and … Continue reading “Erasca Promotes Yeung to COO, CFO; Appoints Chacko as New CBO”
Cadent Therapeutics Appoints John McBride CFO
John McBride has been appointed chief financial officer of Cadent Therapeutics. He was most recently the CFO of Syntimmune, which was acquired by Alexion Pharmaceuticals (NASDAQ: [[ticker:ALXN]]) last year. Cambridge, MA-based Cadent raised $40 million in financing last November to advance its lead drug into Phase 2 testing for two movement disorders.
Retrophin Sinks as Drug “Pharma Bro” Martin Shkreli Co-Invented Fails
[Corrected, 8/23/19, see below] Retrophin, the drug developer founded by jailed former biotech executive Martin Shkreli, has failed its first big test. The San Diego-based company’s experimental drug fosmetpantotenate failed a Phase 3 trial, FORT, in patients with a rare and deadly neurological disorder called pantothenate kinase-associated neurodegeneration, or PKAN. The Retrophin (NASDAQ: [[ticker:RTRX]]) drug … Continue reading “Retrophin Sinks as Drug “Pharma Bro” Martin Shkreli Co-Invented Fails”
Healthcare’s Future is Telemedicine & AI, But Will Everyone Benefit?
John Halamka thinks the digital health industry is still “emerging.” But it has come a long way and is starting to deliver after years of hype. Halamka, a Boston-based physician and healthcare technology expert, says that’s thanks to several coalescing factors: improved technology, more favorable financial incentives for using digital products in healthcare, and growing … Continue reading “Healthcare’s Future is Telemedicine & AI, But Will Everyone Benefit?”
Splunk To Pay $1B For SaaS App Monitoring Firm SignalFx
Splunk, an IT operations management and information security company, announced today it has clinched a deal to buy cloud software application monitoring company SignalFx for $1.05 billion. San Francisco-based Splunk (NASDAQ: [[ticker:SPLK]]) says the acquisition will enable it to give businesses a real-time, panoramic view of the performance of their cloud-based applications, whether their data … Continue reading “Splunk To Pay $1B For SaaS App Monitoring Firm SignalFx”
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”
UniQure Eliminates Chief Operating Officer Role, McMillan to Retire
UniQure (NASDAQ: [[ticker:QURE]]) is eliminating the chief operating officer position, which has been filled for the past two years by Scott McMillan. The gene therapy developer, which is based in the Netherlands and has US operations in Lexington, MA, said that McMillan will retire and two other executives are moving into different positions. Sander van … Continue reading “UniQure Eliminates Chief Operating Officer Role, McMillan to Retire”
Amgen Neuro Exec Marek Joins Axsome as Chief Commercial Officer
Axsome Therapeutics (NASDAQ: [[ticker:AXSM]]) has appointed David Marek to serve as chief commercial officer. Marek joins the New York biotech from Amgen (NASDAQ: [[ticker:AMGN]]), where he was vice president and general manager of the company’s neuroscience business unit. His experience also includes executive roles at WebMD and Saatchi & Saatchi Healthcare Advertising. Axsome is developing … Continue reading “Amgen Neuro Exec Marek Joins Axsome as Chief Commercial Officer”
Xcelerate at Biotech Week Boston Discount Ticket Sale Ends Friday
If you care about life science and the people and issues driving the future, you will want an Xcelerate pass to this year’s Biotech Week Boston. Hurry, our Super Saver sale ends Friday! The Xcelerate program package provides access to four of the conference’s most popular events, all on Wednesday, Sept. 11: —Keynote Speaker Series: … Continue reading “Xcelerate at Biotech Week Boston Discount Ticket Sale Ends Friday”
Oncorus Adds $79.5M to Steer Cancer-Fighting Virus to Human Testing
Nearly four years ago, the FDA approved a therapy that uses a virus to infect tumor cells and break them down—the first such viral therapy for treating cancer. Oncorus CEO Ted Ashburn says there’s room to improve on these oncolytic viruses and their role in immunotherapy, and his biotech startup is getting ready to show … Continue reading “Oncorus Adds $79.5M to Steer Cancer-Fighting Virus to Human Testing”
Elanco’s $7.6B Deal With Bayer Bolsters Pets, Farm Animals Footprint
Elanco Animal Health, the veterinary sector’s fourth-largest company measured by revenue, is poised to leap to number two through a $7.6 billion cash and stock deal for Bayer’s animal health unit. The acquisition will help Elanco boost its business selling products for farm animals. But Elanco (NYSE: [[ticker:ELAN]]) notes that Bayer, which sells the popular … Continue reading “Elanco’s $7.6B Deal With Bayer Bolsters Pets, Farm Animals Footprint”
Startup Blooma Launches With $2.75M to Digitize Commercial Lending
Many facets of the finance industry, a highly regulated sector of the economy, are still reworking the tools used to move around money so that they fit a digital world. Digital mortgage lenders, for example, are having a field day, pulling in millions from investors who see opportunities to make money by speeding up the … Continue reading “Startup Blooma Launches With $2.75M to Digitize Commercial Lending”
FDA Rejects Sarepta’s Second Duchenne Drug, Citing Safety Concerns
[Updated, 8/20/19, see below] Sarepta Therapeutics won one of the most dramatic and controversial drug approvals in the history of the FDA a few years ago. It didn’t have the same luck the second time around. The FDA late Monday rejected golodirsen (Vyondys 53), which was widely expected to become the second approved Duchenne muscular … Continue reading “FDA Rejects Sarepta’s Second Duchenne Drug, Citing Safety Concerns”
Enterprise Software Startup Ally Nabs $8M to Support Global Growth
Ally, a startup developing software to help businesses chart strategies and track progress toward meeting goals, announced Monday it has raised $8 million from investors to support the Bellevue, WA-based company’s growth. Palo Alto, CA-based Accel led the Series A round, Ally says. Other participating investors included two Seattle-based venture capital firms, Founders’ Co-op and … Continue reading “Enterprise Software Startup Ally Nabs $8M to Support Global Growth”
Genentech’s Sandra Horning to Retire, Levi Garraway Named Successor
Roche subsidiary Genentech announced Monday that Sandra Horning, chief medical officer and head of global product development since 2014, will retire at the end of the year. Horning joined Genentech in 2009 as a senior vice president. Levi Garraway has been appointed Horning’s successor. Garraway recently resigned from Eli Lilly (NYSE: [[ticker:LLY]]), where he was … Continue reading “Genentech’s Sandra Horning to Retire, Levi Garraway Named Successor”
Pfizer Spinout SpringWorks, Migraine Drug Firm Satsuma Prep IPOs
The dog days of summer are here and IPO activity has slowed, but that hasn’t stopped some biotech companies from securing a place in the line leading to Wall Street. Late Friday, SpringWorks Therapeutics and Satsuma Pharmaceuticals filed paperwork to go public. SpringWorks spun out of Pfizer (NYSE: [[ticker:PFE]]) nearly two years ago, aiming to … Continue reading “Pfizer Spinout SpringWorks, Migraine Drug Firm Satsuma Prep IPOs”
AbbVie’s Successor to Humira Wins FDA OK for Rheumatoid Arthritis
An anti-inflammatory drug that AbbVie has been developing as a successor to adalimumab (Humira), the world’s top-selling drug, won the regulatory OK Friday as a treatment for rheumatoid arthritis (RA). The FDA approved upadacitinib (Rinvoq) for adults with RA whose disease hasn’t responded to other treatments. About 1.3 million people in the US have the … Continue reading “AbbVie’s Successor to Humira Wins FDA OK for Rheumatoid Arthritis”
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.”
Boston Tech Watch: Buoy Health, Cambridge Crops, Polarity & More
This week, we’re tracking venture capital deals in digital health, augmented reality for the enterprise, wellness, and food tech. Read on for details. —Buoy Health said it snagged $15 million in a Series B funding round led by Hambrecht Ducera Growth Ventures, which was joined in the investment by Humana (NYSE: [[ticker:HUM]]), F-Prime Capital Partners, … Continue reading “Boston Tech Watch: Buoy Health, Cambridge Crops, Polarity & More”
UPS Takes Minority Stake in Self-Driving Truck Startup TuSimple
TuSimple, an autonomous trucking company, has been conducting test drives for UPS between the Arizona cities of Phoenix and Tucson since May. Now the corporate venture arm of the global package delivery giant says it has taken a minority stake in the San Diego startup, which believes its technology can reduce the costs of shipping … Continue reading “UPS Takes Minority Stake in Self-Driving Truck Startup TuSimple”
SpringWorks Therapeutics Appoints Francis Perier CFO
Francis Perier has been appointed chief financial officer of SpringWorks Therapeutics. Perier’s experience includes financial roles at Forest Laboratories, Bristol-Myers Squibb (NYSE: [[ticker:BMY]]), and Deloitte. Stamford, CT-based SpringWorks was spun out of Pfizer (NYSE: [[ticker:PFE]]) in 2017 with rights to four of the pharmaceutical giant’s drugs. In April, SpringWorks raised $125 million in Series B … Continue reading “SpringWorks Therapeutics Appoints Francis Perier CFO”
Motif Unveils New Name and $27.5M to Build Food Ingredients Pipeline
Plant-based meats and milks still use proteins, just not proteins that come from animals. Motif Ingredients has raised $27.5 million to build a pipeline of these animal-free protein ingredients. In addition to the new cash, Motif on Thursday also unveiled a new name: Motif FoodWorks. The Boston company says the name better connects its business … Continue reading “Motif Unveils New Name and $27.5M to Build Food Ingredients Pipeline”
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.”
Qualcomm Taps Former Palo Alto Networks CEO as Board Chairman
Wireless giant Qualcomm has appointed Mark McLaughlin, the former CEO of network security company Palo Alto Networks, as chairman of its board of directors. McLaughlin joined Silicon Valley-based Palo Alto Networks (NYSE: [[ticker:PANW]]) as president and CEO in 2011, ahead of its 2012 IPO. He served as the company’s top executive through June 2018. Prior … Continue reading “Qualcomm Taps Former Palo Alto Networks CEO as Board Chairman”
After Drought, Digital Health’s Summer of IPOs Brings Validation
After a nearly three-year period in which not a single digital health company held an initial public stock offering, the dry spell has ended. In recent weeks, four healthcare software and technology businesses—Change Healthcare, Health Catalyst, Livongo Health, and Phreesia—held IPOs. Taken as a whole, these public market debuts were mostly successful, and could persuade … Continue reading “After Drought, Digital Health’s Summer of IPOs Brings Validation”
Ex-Acceleron Exec Zeldin Named Immunovant Chief Medical Officer
Four months after stepping down from Acceleron Pharma (NASDAQ: [[ticker:XLRN]]) as chief medical officer, Robert Zeldin has been appointed to the chief medical position at Immunovant. Zeldin’s experience also includes roles at Ablynx, Merck (NYSE: [[ticker:MRK]]), and Novartis (NYSE: [[ticker:NVS]]). Immunovant, which splits its operations between New York and Basel, Switzerland, is developing treatments for … Continue reading “Ex-Acceleron Exec Zeldin Named Immunovant Chief Medical Officer”
Genomics Experts Preview Xconomy’s Aug. 27 Bay Area Biotech Forum
Study of the human genome has yielded new insights into the origins of diseases and the pathways to potentially cure them. Join Xconomy and Biocom the evening of Aug. 27 to hear from leaders in the field for “Turning Genomics Into Better Health,” our life sciences forum at Biocom Bay Area. We’ll explore the hope, … Continue reading “Genomics Experts Preview Xconomy’s Aug. 27 Bay Area Biotech Forum”
AI World Conference and Expo
From the event organizer: AI World Conference and Expo focuses on the state of the practice of AI in the enterprise. The 3-day program delivers a comprehensive spectrum of content, networking, and business development opportunities, all designed to help you cut through the hype and navigate through the complex landscape of AI business solutions. Register … Continue reading “AI World Conference and Expo”
Mason Raises $25M to Help Software Firms Deploy, Manage Applications
Amazon Web Services and other businesses that charge customers to host their software applications have become a popular option for tech startups. Part of the reason for the popularity of using AWS and other cloud computing services is because it allows employees at early-stage businesses to focus on their products and customers, rather than server … Continue reading “Mason Raises $25M to Help Software Firms Deploy, Manage Applications”
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”
Life Science Xchange: The New York Breed of Startups
Join Xconomy for a unique, candid look at the stories of three groups of entrepreneurs and investors trying to create a new breed of biotech in the big city. What will it take for them to become the standard bearers of New York’s biotech future? At the event, life science and pharma executives will also … Continue reading “Life Science Xchange: The New York Breed of Startups”
Chasing Blueprint, Deciphera Plans FDA Filing for GI Cancer Drug
[Updated, 11:04 am ET, see below] Deciphera Pharmaceuticals this morning announced plans to seek FDA approval of a cancer medicine that treats a deadly type of tumor that forms in the gastrointestinal tract. The Deciphera (NASDASQ: [[ticker:DCPH]]) drug, ripretinib, hit its main goal in a Phase 3 trial, INVICTUS, in 129 patients with gastrointestinal stromal … Continue reading “Chasing Blueprint, Deciphera Plans FDA Filing for GI Cancer Drug”
GSK’s US President Bailey to Depart, EMD Serono Exec Named Successor
Jack Bailey, president of US pharmaceuticals for GlaxoSmithKline (NYSE: [[ticker:GSK]]), will step down from the role at the end of the year. The British pharmaceutical giant said Monday that Bailey will be succeeded by Maya Martinez-Davis, regional president of Latin America for EMD Serono, the biopharma business of Germany-based Merck KGaA. Martinez-Davis’s experience also includes … Continue reading “GSK’s US President Bailey to Depart, EMD Serono Exec Named Successor”
On Target Laboratories Taps Philips Healthcare’s Barys for CEO
Christopher Barys has been appointed CEO of On Target Laboratories. Barys is also joining the West Lafayette, IN-based company’s board of directors. He succeeds former CEO Martin Low. Barys comes to On Target from Philips Healthcare, where he led the company’s image guided therapy group. Barys’s experience also includes positions at Medtronic (NYSE: [[ticker:MDT]]) and … Continue reading “On Target Laboratories Taps Philips Healthcare’s Barys for CEO”
Orthofix Medical CEO Mason to Retire, Serbousek Appointed Successor
Brad Mason, president and CEO of Orthofix Medical (NASDAQ: [[ticker:OFIX]]) since 2013, will retire on Oct. 31. The Lewisville, TX-based company has named Jon Serbousek his successor. Orthofix said Serbousek will serve as president of the company’s global spine business until Mason’s retirement. Serbousek comes to Orthofix from Pinnacle Advisory Partners, where he was managing general partner. … Continue reading “Orthofix Medical CEO Mason to Retire, Serbousek Appointed Successor”
Vor Biopharma Appoints Neon’s Robert Ang President & CEO
Vor Biopharma has appointed Robert Ang to serve as president and CEO. Ang joins Cambridge, MA-based Vor from Neon Therapeutics, where he was chief business officer. His experience also includes positions at Bavarian Nordic, Cadence Pharmaceuticals, and Frazier Healthcare Ventures. In February, Vor raised $42 million in Series A financing to support development of a … Continue reading “Vor Biopharma Appoints Neon’s Robert Ang President & CEO”
San Diego Tech Roundup: Ezoic, Trust & Will, Oska Wellness & More
Summer can be a slow time in San Diego, but its startups have stayed busy. Read on for news of recent financings, plus upcoming opportunities to connect with the local tech community. —Ezoic, a startup that developed software for web publishers that uses machine learning techniques to personalize layouts and ad placements for site visitors, … Continue reading “San Diego Tech Roundup: Ezoic, Trust & Will, Oska Wellness & More”
Melinta Therapeutics CEO Johnson Resigns, Successor Search Underway
After less than one year on the job, Melinta Therapeutics (NASDAQ: [[ticker:MLNT]]) CEO John Johnson has resigned “due to changes in the company’s circumstances and in order to pursue other opportunities,” the antibiotics developer announced Friday. He also stepped down from the Morristown, NJ-based company’s board of directors. Melinta said Johnson will serve as acting … Continue reading “Melinta Therapeutics CEO Johnson Resigns, Successor Search Underway”
Cleave Therapeutics Appoints Amy Burroughs CEO, Scott Harris COO
Cleave Therapeutics appointed Amy Burroughs to serve as its CEO. The San Francisco drug developer also announced $12 million in financing to advance cancer drug candidate CB-5339 through Phase 1 testing in acute myeloid leukemia. The financing was led by 5AM Ventures, Celgene (NASDAQ: [[ticker:CELG]]), Orbimed, U.S. Venture Partners, Arcus Ventures, Astellas Venture Management, and … Continue reading “Cleave Therapeutics Appoints Amy Burroughs CEO, Scott Harris COO”
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”
Boston Tech Watch: Nike, Cybereason, Care.com, LaunchByte & More
Nike goes shopping in Boston. Cybereason tracks down another big investment. Care.com makes a change at the top. A purported venture capitalist gets arrested for alleged fraud. Read on for these stories and more of the biggest developments in Boston tech this week. —Nike (NYSE: [[ticker:NKE]]) acquired Boston-based retail technology firm Celect for an undisclosed … Continue reading “Boston Tech Watch: Nike, Cybereason, Care.com, LaunchByte & More”
Glow Snags $2.3M to Help Podcasters Connect to Listeners, Make Money
Amira Valliani decided to launch a podcast-focused startup after listening to a podcast that is, fittingly enough, named StartUp. Valliani is the co-founder and CEO of Glow.fm, an early-stage company based in Seattle that recently raised $2.3 million in seed funding to continue building its service for supporting podcasters. Glow’s story traces back to 2015, … Continue reading “Glow Snags $2.3M to Help Podcasters Connect to Listeners, Make Money”
Bayer Buys Out BlueRock, Betting at Least $240M More on Cell Therapy Work
Versant Ventures and Bayer have started several biotechs together. But today marks the first time the German drug maker takes a step further and buys one of them: cell therapy developer BlueRock Therapeutics. Bayer already owns a 40.8 percent stake in BlueRock through its Leaps by Bayer venture arm. But it will pay $240 million … Continue reading “Bayer Buys Out BlueRock, Betting at Least $240M More on Cell Therapy Work”
Organovo Halts Liver Tissue R&D, Plans Restructuring to Cut Costs
[Updated 2:33 p.m. Aug. 8. See below.] Organovo says it has run out of money to advance its efforts to develop 3-D “patches” of living human liver tissue to tide over people waiting for an organ transplant. The San Diego-based biotech has been working since 2007 to use a method known as bio-printing to come … Continue reading “Organovo Halts Liver Tissue R&D, Plans Restructuring to Cut Costs”
Assembly Bio Taps Former Gilead Sciences Exec McHutchison for CEO
Days after stepping down as chief scientific officer of Gilead Sciences (NASDAQ: [[ticker:GILD]]), John McHutchison has surfaced as the new president and CEO of South San Francisco-based Assembly Biosciences (NASDAQ: [[ticker:ASMB]]). Assembly said Wednesday that McHutchison will also join the company’s board of directors. Last month, Gilead announced that McHutchison would leave after nearly a … Continue reading “Assembly Bio Taps Former Gilead Sciences Exec McHutchison for CEO”
Ribon Therapeutics Taps Sudha Parasuraman for Chief Medical Officer
Sudha Parasuraman has been appointed chief medical officer of cancer drug developer Ribon Therapeutics. She was most recently the chief medical officer of X4 Pharmaceuticals (NASDAQ: [[ticker:XFOR]]). Her experience also include positions at uniQure (NASDAQ: [[ticker:QURE]]), Novartis (NYSE: [[ticker:NVS]]) and Millennium Pharmaceuticals. In other moves, Ribon named Edward “Tad” Stewart to serve as chief business … Continue reading “Ribon Therapeutics Taps Sudha Parasuraman for Chief Medical Officer”