A new class of ovarian and breast cancer drugs that thwart a DNA repair mechanism ushered in a novel approach to treating cancer. The first PARP inhibitor was approved in 2014. That drug, and others that followed, block a PARP enzyme that plays a key role in this repair process. But it turns out there’s … Continue reading “Ribon Raises $65M to Pursue PARP-Blocking Pills for Cancer”
Forge Therapeutics Gets up to $11.1M to Advance “Superbug” Drugs
[Updated 1/4/19, 9:10 p.m. PT. See below.] As strains of bacteria evolve to fight back against common antibiotics, a slew of biotechnology companies are working to develop ways to combat these “superbugs.” San Diego’s Forge Therapeutics is among those targeting gram-negative bacteria, a type of bacteria that has a protective outer membrane that makes it … Continue reading “Forge Therapeutics Gets up to $11.1M to Advance “Superbug” Drugs”
Liz Barrett Leaves Novartis to Become UroGen President and CEO
UroGen Pharma (NASDAQ: [[ticker:URGN]]) has appointed Liz Barrett to serve as its president and CEO. Barrett is also joining the board of directors of the company, which was founded in Israel and recently moved its headquarters to New York. UroGen, a clinical-stage company developing treatments for urologic cancers, says Barrett will be based in New … Continue reading “Liz Barrett Leaves Novartis to Become UroGen President and CEO”
SQZ Biotech Appoints Oliver Rosen Chief Medical Officer
Oliver Rosen has joined SQZ Biotechnologies as the Watertown, MA, company’s chief medical officer. Rosen was most recently chief medical officer of Deciphera Pharmaceuticals (NASDAQ: [[ticker:DCPH]]) in Waltham, MA. His experience also includes senior roles at Millenium Pharmaceuticals and Genentech. SQZ is developing cell therapies based on its technology that inserts therapeutic proteins into a … Continue reading “SQZ Biotech Appoints Oliver Rosen Chief Medical Officer”
Fujifilm Cellular Dynamics to Invest $21M in Facility Near Madison HQ
Fujifilm Cellular Dynamics said it plans to invest about $21 million to establish a facility for developing and manufacturing stem cells in Madison, WI, where the company is based. The firm, which was acquired by Japan-based Fujifilm in 2015, said it expects the facility to begin operating by March 2020. It plans to use the … Continue reading “Fujifilm Cellular Dynamics to Invest $21M in Facility Near Madison HQ”
Alphabet’s Biotech R&D Arm Verily Raises $1B to Fuel Growth
Verily, the biotech research and development company owned by Google parent Alphabet, has raised $1 billion in an investment round led by Menlo Park, CA-based private equity titan Silver Lake. The South San Francisco, CA-based company was formerly known as Google Life Sciences before Alphabet (NASDAQ: [[ticker:GOOG]]) spun it off from the search engine giant … Continue reading “Alphabet’s Biotech R&D Arm Verily Raises $1B to Fuel Growth”
For CAR-T Cancer Fighters in the Real World, Two Roads Diverge
[Corrected, 1/4/19, 3:55pm ET. See below.] A generation ago, cancer treatments made from a patient’s own living immune cells would have been science fiction. Now they’re here. The first two products, approved in 2017 and known in shorthand as CAR-T, have brought some people with otherwise untreatable blood cancers back from the brink of death. … Continue reading “For CAR-T Cancer Fighters in the Real World, Two Roads Diverge”
Tizona Lands $105M from AbbVie in Cancer Drug R&D Alliance
A cancer immunotherapy teed up for clinical trials by Tizona Therapeutics is now the centerpiece of a new partnership with AbbVie, which is paying the startup $105 million up front. In addition to the cash paid to South San Francisco, CA-based Tizona, AbbVie (NYSE: [[ticker:ABBV]]) said Thursday that it has made an equity investment in … Continue reading “Tizona Lands $105M from AbbVie in Cancer Drug R&D Alliance”
How a San Antonio Physician Went From a Spy Plane to Olifant Medical
San Antonio — Entrepreneurship wasn’t something that Steven Venticinque expected to pursue in his life. Like many tinkerers and inventors, Venticinque took to entrepreneurship in order to fix a problem. Intubation—the process of quickly inserting a breathing tube into someone, such as an emergency room patient who needs help breathing—isn’t as easy as you might think. … Continue reading “How a San Antonio Physician Went From a Spy Plane to Olifant Medical”
In a Huge Biopharma Shakeup, Bristol-Myers to Buy Celgene For $74B
Bristol-Myers Squibb has agreed to acquire Celgene in a deal that would create one of the largest biopharma organizations in the world and send ripples throughout the life sciences sector. Bristol (NYSE: [[ticker:BMY]]) on Thursday morning inked a deal to buy Celgene (NASDAQ: [[ticker:CELG]]) in a deal that values the Summit, NJ, drugmaker at $74 … Continue reading “In a Huge Biopharma Shakeup, Bristol-Myers to Buy Celgene For $74B”
Get Off the Bus: Austin’s Hitch Offers Car Rides to Houston and Back
Austin—In just a handful of years, people with smartphones have flocked in droves to ride-hailing services like Uber and Lyft to get around town. Now, an Austin, TX-based startup wants to help travelers take trips out of town. Hitch, which launched its service last month, has adopted the popular ride-sharing model for trips between Houston … Continue reading “Get Off the Bus: Austin’s Hitch Offers Car Rides to Houston and Back”
Invest Michigan Hits Milestone, Backs Fiftieth Company in Four Years
Invest Michigan, an investment fund supported by the state-backed Michigan Strategic Fund, hit a major milestone at the end of 2018: it invested in its fiftieth company in four years. Ann Arbor’s Spellbound, which has developed a therapeutic tool to help kids cope with illness and engage in treatment through augmented reality technology, received the … Continue reading “Invest Michigan Hits Milestone, Backs Fiftieth Company in Four Years”
Tiburio Launches from Cydan with $31M to Tackle Pituitary Tumors
Biotech startup creator Cydan is unveiling a new company, Tiburio Therapeutics, which is backed by $31 million to support its work on treatments for rare endocrine diseases. Cambridge, MA-based Cydan was started by New Enterprise Associates (NEA) six years ago to scour the world for compounds that can be turned into rare disease treatments, and … Continue reading “Tiburio Launches from Cydan with $31M to Tackle Pituitary Tumors”
LÜM’s Music Discovery App Aims to Help Emerging Artists Find Fans
[Corrected 10/14/19, 3:36 pm CT. See below.] The music streaming wars are far from over. While big players like Spotify, Apple, and Amazon fight to make their music apps the go-to option for listening to the latest hit tracks from well-known artists such as Beyoncé, Drake, and Mumford & Sons, young startups still see room … Continue reading “LÜM’s Music Discovery App Aims to Help Emerging Artists Find Fans”
4 San Diego Startups Ring in New Year With New Venture Dollars
Heads of some local tech startups—or at least their lawyers—stayed busy over the winter holiday. Four reported raising $10 million or more within days of the New Year, according to recent filings with securities regulators. While the softening stock market may have ruined a few holiday breaks, these San Diego software companies were undoubtedly raising … Continue reading “4 San Diego Startups Ring in New Year With New Venture Dollars”
Novan Promotes Stafford as Stasko Steps Down as President
Novan (NASDAQ: [[ticker:NOVN]]) has promoted Paula Brown Stafford to president and the newly created role of chief operating officer. Stafford, chief development officer of the Morrisville, NC, skin drugs developer since 2017, takes over the role of president held by company co-founder Nathan Stasko. Two years ago, Stasko relinquished the CEO post and became president … Continue reading “Novan Promotes Stafford as Stasko Steps Down as President”
Progenics Names Former Tocagen Exec Asha Das Chief Medical Officer
Progenics Pharmaceuticals (NASDAQ: [[ticker:PGNX]]) has appointed Asha Das to serve as chief medical officer. Das comes to the New York-based cancer drug developer from San Diego-based Tocagen (NASDAQ: [[ticker:TOCA]]), where she was chief medical officer. Progenics received FDA approval last July for iobenguane (Azedra), which was developed to treat tumors that form in and around … Continue reading “Progenics Names Former Tocagen Exec Asha Das Chief Medical Officer”
Endeavor Robotics Sues Rival QinetiQ Over Stair-Climbing Patents
Endeavor Robotics is suing QinetiQ, its lone competitor in a heated competition for a $429 million defense contract, for using two of Endeavor’s patented methods to get a robot to climb stairs. Endeavor, based in Chelmsford, MA, is asking the U.S. District Court in Delaware to declare that Waltham, MA-based QinetiQ North America is infringing … Continue reading “Endeavor Robotics Sues Rival QinetiQ Over Stair-Climbing Patents”
MyoKardia Goes Solo as Sanofi Ends Precision Heart Drug Deal
MyoKardia rode a partnership with Sanofi to the public markets a few years ago. But the two companies are cutting ties today, with MyoKardia regaining full rights to its drug programs and assuming all the upside—and risk—of their success or failure. MyoKardia (NASDAQ: [[ticker:MYOK]]) said the deal, which started in September 2014, will wrap up … Continue reading “MyoKardia Goes Solo as Sanofi Ends Precision Heart Drug Deal”
Atlas Venture Bags $250M For New Growth Capital Fund
Atlas Venture says it has raised a $250 million fund meant to continue backing its startups as they grow. The Cambridge, MA, life sciences venture firm, known for seeding and incubating biotech startups, will use the new “Atlas Venture Opportunity Fund I” to invest in portfolio companies that have progressed to a Series B round … Continue reading “Atlas Venture Bags $250M For New Growth Capital Fund”
Copps: Key Ingredient As A.I. Permeates Daily Life is Building Trust
The promise, and pitfalls, of artificial intelligence became more apparent in the last year, and for Dave Copps, founder of A.I. companies such as Brainspace and Hypergiant Sensory Sciences, the pace of adoption will only accelerate in 2019. What can help to smooth the transition to our new machine learning-enabled future is an effort on … Continue reading “Copps: Key Ingredient As A.I. Permeates Daily Life is Building Trust”
Three Ways 5G Is More Than Just Fast Video Streaming
In 2019, we will finally see commercial deployment of the much-anticipated 5G (fifth-generation) wireless network. 5G brings us closer to the possibility and promise of ubiquitous, un-tethered connection between every device and every entity. The projected exponential increase in bandwidth, low latency, ultra-reliable connections, and highly configurable network solutions enabled by 5G will go beyond … Continue reading “Three Ways 5G Is More Than Just Fast Video Streaming”
New Year to Bring New Data Security Threats, Cyber Investor Warns
Bob Ackerman is one of the venture capitalists whose funding has long fed the growth of the burgeoning cybersecurity industry. So, you might imagine that his outlook on data protection for 2019 would be more optimistic than in past years, because businesses now take advantage of a broad choice of security services to protect themselves. … Continue reading “New Year to Bring New Data Security Threats, Cyber Investor Warns”
NY’s Research Institutions Must Keep Working Together in ‘19
[Corrected, 1/7/19, 5:15 pm. See below.] [Editor’s Note: Euan Robertson, the Director of Strategic Planning & Special Projects at Columbia Technology Ventures, co-wrote this article.] It is a commonly held belief that academic research institutions, including those in New York City, are fierce competitors. In some ways, that may be true: Universities battle with each … Continue reading “NY’s Research Institutions Must Keep Working Together in ‘19”
In 2019, the Dam Will Break: Student Debt Predictions and Solutions
With the density of colleges and universities in the Boston area, we don’t often recognize how inaccessible higher education has become for the majority of the country. In fact, seven out of 10 college graduates today have outstanding student loans. And while many of us believe that education is a “must-have,” it’s alarming how structurally … Continue reading “In 2019, the Dam Will Break: Student Debt Predictions and Solutions”
Indy Roundup: Pelican BioThermal, Pattern89, Perceivant Make Moves
As 2018 comes to a close, Indiana startups and tech entrepreneurs are as busy as ever. Here are some recent headlines from the Hoosier State’s innovation community: —Pattern89, a startup using artificial intelligence to improve paid advertising results on social media, has raised a $3.5 million funding round. The investment was led by F&M Investments, … Continue reading “Indy Roundup: Pelican BioThermal, Pattern89, Perceivant Make Moves”
From Alnylam to Zayner: Xconomy’s Top Innovation Stories of 2018
2018 was a year of ups and downs for the business and technology community. It was a year of big exits—both IPOs and acquisitions—for tech and life sciences companies. Venture funding remained strong, but more money went to fewer (and later-stage) companies overall. As the year winds down, we’re reflecting on the big innovation trends … Continue reading “From Alnylam to Zayner: Xconomy’s Top Innovation Stories of 2018”
Saxena: More Than a Tool, A.I. Must Be Used With Society in Mind
[Updated 12/27/18, 9:54 am] Manoj Saxena is bullish on artificial intelligence. As chairman of Austin, TX-based A.I. startup CognitiveScale and managing director of The Entrepreneur Fund, which makes investments in early-stage machine learning companies, Saxena believes A.I. can transform how we work and play—creating opportunities for business. But he’s also aware that the technology, if … Continue reading “Saxena: More Than a Tool, A.I. Must Be Used With Society in Mind”
CFOs: Prepare To Become Your Company’s Data Czar This Year
In mid-2018, Tom Bogan was the leader of business planning software company Adaptive Insights as it planned its own next steps. The Palo Alto, CA-based company was on the point of raising about $115 million in a June IPO that would have set its market value at around $705 million, according to PitchBook. But like … Continue reading “CFOs: Prepare To Become Your Company’s Data Czar This Year”
Boston A.I. Leaders Call for Focus on Diversity, Global Mindset in 2019
It was an eventful year for the artificial intelligence industry. The sector saw more big venture capital deals and acquisitions, while researchers kept plugging away on technology advances. Meanwhile, A.I. developers continued to grapple with issues around transparency, trust, and ethics. As part of Xconomy’s series of year-end posts, we asked a pair of CEOs … Continue reading “Boston A.I. Leaders Call for Focus on Diversity, Global Mindset in 2019”
San Francisco Biotech: The Next Generation—Photos and Takeaways
Among the life science companies developing new approaches to disease today are those that will shape the healthcare of tomorrow. Earlier this month, Xconomy offered a select audience a peek at some of them making advances in the Bay Area. Three companies aiming to transform healthcare took to the stage at UCSF Mission Bay on … Continue reading “San Francisco Biotech: The Next Generation—Photos and Takeaways”
Gossamer Bio Files for IPO at End of Year in Which It Raised $330M
Gossamer Bio, headed by former Receptos executives, made its debut in January with $100 million in financing. Seven months later, it tacked on another $230 million. Now, the San Diego-based startup is looking to Wall Street for additional funds. The company last Friday outlined plans for an initial public offering to advance its development of … Continue reading “Gossamer Bio Files for IPO at End of Year in Which It Raised $330M”
Gates Foundation, Bristol-Myers Join $27M Funding for Vedanta Bio
Microbiome drug developer Vedanta Biosciences has raised $27 million in funding to press forward with clinical trials for four therapeutic candidates. Vedanta’s experimental treatments are compositions of live bacteria that the Cambridge, MA, company says trigger a targeted immune response. By shifting the ecosystem of gut bacteria, Vedanta says its therapies can potentially treat autoimmune … Continue reading “Gates Foundation, Bristol-Myers Join $27M Funding for Vedanta Bio”
Acorda Gets FDA Nod for New Parkinson’s Drug, But Rival Looms
The FDA late Friday approved a new treatment meant to help Parkinson’s disease patients cope with “off” episodes, when their medications stop working. The drug, Inbrija, from Acorda Therapeutics (NASDAQ: [[ticker:ACOR]]), is one of two similar treatments—along with APL-130277, from Sunovion Pharmaceuticals—expected to come to market in 2019. And its commercial success is critical for … Continue reading “Acorda Gets FDA Nod for New Parkinson’s Drug, But Rival Looms”
VCs May Face Backlash if Profits Come at Expense of Responsibility
Venture capital is, by nature, an optimistic industry, and venture capitalists have historically gone about their work comfortable that they were making positive societal contributions. When looking at VC activity over the past half century, one can see venture capital’s role in championing endeavors that advanced knowledge, improved health, increased worker productivity, and preserved natural … Continue reading “VCs May Face Backlash if Profits Come at Expense of Responsibility”
Joann to Install Glowforge 3D Printers, Helping Grandma Go High-Tech
Arts and crafts shops aren’t typically thought of as cutting-edge retail environments. But one chain of sewing and hobby supplies stores, Joann, is signaling it doesn’t want to be an afterthought in conversations about high-tech brick-and-mortar shopping experiences. Joann said this week that it has invested an undisclosed sum in Glowforge, a Seattle-based startup that … Continue reading “Joann to Install Glowforge 3D Printers, Helping Grandma Go High-Tech”
Ligand Inks Deal, Ionis Details Succession Plan, & More SD Biotech
San Diego’s life sciences companies didn’t tap their brakes much as December chugged along. This week—for many, the last full work week before a holiday break—has been peppered with financings and deals news. So while it might be nearly time to board your plane (or hop in the car, or simply spend a little time … Continue reading “Ligand Inks Deal, Ionis Details Succession Plan, & More SD Biotech”
Texas Startups Use AI, Fintech to Help Customers Find, Pay Workers
The American workforce has moved significantly beyond what Dolly Parton was familiar with. Instead of a set 40-hour, “9 to 5” work week, we have flextime, gig work, and digital nomads. Technology has allowed us to work at all hours and days—and maybe has us working too much. But even with those changes, many aspects … Continue reading “Texas Startups Use AI, Fintech to Help Customers Find, Pay Workers”
Bio Roundup: 2019 Trials, Pilgrim Price Chat, Pre-Xmas Sales & More
It’s beginning to look a lot like, well, the last roundup of the year, with plenty of news to pack in before our holiday breather. Whew. Before you fly off, or drive, or simply unplug, check out our preview of what could be next year’s top clinical studies; the tumult in big pharma’s on again-off … Continue reading “Bio Roundup: 2019 Trials, Pilgrim Price Chat, Pre-Xmas Sales & More”
Boston Tech Watch: Underscore VC, Piaggio, SoftBank & Sea Machines
A pair of massive Boston-area investments from the Japanese SoftBank Group’s $100 billion Vision Fund, a moonshot power storage spinout from Alphabet’s X labs, and some local robotics moves are found in this week’s Boston technology news. —Underscore VC, a Boston-based venture capital firm focused on early-stage tech startups, is capping off its second fund … Continue reading “Boston Tech Watch: Underscore VC, Piaggio, SoftBank & Sea Machines”
Following Sale of Haiku Deck, Adam Tratt Reflects on Startup Life
The idea for Haiku Deck, a Seattle startup that makes software for putting together short, image-heavy presentations, only came about after its founders’ original plan to build a development shop for social network games failed to gain sufficient traction. Now, years later, Haiku Deck co-founders Adam Tratt and Kevin Leneway’s decision to switch to developing … Continue reading “Following Sale of Haiku Deck, Adam Tratt Reflects on Startup Life”
Gilbert Foundation to Pursue Gene Therapy for Neurofibromatosis
The Gilbert Family Foundation, a charitable organization founded by Quicken Loans chairman Dan Gilbert and his wife Jennifer, is making its first foray into gene therapy research. The foundation will spend $12 million in an initiative to develop new treatments that target the underlying genetic abnormalities in neurofibromatosis type 1 (NF1), a disorder that can result … Continue reading “Gilbert Foundation to Pursue Gene Therapy for Neurofibromatosis”
German Court Sides with Qualcomm in Patent Litigation Versus Apple
A court in Munich, Germany, has ordered Apple to stop imports and sales in Germany of all models of iPhone that infringe on Qualcomm’s intellectual property, the San Diego wireless giant said Thursday. The court ruled that Cupertino, CA-based Apple (NASDAQ: [[ticker:AAPL]]) infringed a Qualcomm patent that relates to a way to extend a smartphone’s … Continue reading “German Court Sides with Qualcomm in Patent Litigation Versus Apple”
Aristea Therapeutics Raises $15M to Develop Anti-Inflammatory Drugs
New biopharma company Aristea Therapeutics has raised $15 million from Novo Holdings, the Danish investment company, and secured global rights to an investigational AstraZeneca drug that’s ready for Phase 2 study. The San Diego, CA, company made its public debut this week after starting up quietly earlier this year. Aristea expects its lead program, RIST4721, … Continue reading “Aristea Therapeutics Raises $15M to Develop Anti-Inflammatory Drugs”
WI Watchlist: Lame-Duck Bills, Johnson Controls, EmOpti & More
With the holidays approaching, it’s time to catch up on some recent headlines from Wisconsin’s innovation community: —Republican Gov. Scott Walker signed controversial lame-duck legislation that, among other things, limits the power of his Democratic successor, Tony Evers, who will take office in January. The legislation includes a measure that initially gives the state legislature … Continue reading “WI Watchlist: Lame-Duck Bills, Johnson Controls, EmOpti & More”
Former Nimbus Exec Rosana Kapeller Lands at GV
Rosana Kapeller, former chief scientific officer at Nimbus Therapeutics, is now entrepreneur-in-residence for life sciences at GV, according to an Endpoints News report. Kapeller co-founded Cambridge, MA-based Nimbus, a company that uses computational techniques to discover new drugs. At GV, the Mountain View, CA-based venture arm of Google, Kapeller will help start companies that apply … Continue reading “Former Nimbus Exec Rosana Kapeller Lands at GV”
Dova Terminates CEO Alex Sapir, Names David Zaccardelli Successor
Alex Sapir, president and CEO of Dova Pharmaceuticals (NASDAQ: [[ticker:DOVA]]), was terminated from the post on Dec. 16, the company said in a securities filing. No reason was given the termination of Sapir, who held the CEO post for less than two years. Durham, NC-based Dova said Sapir will remain an employee until Dec. 29. … Continue reading “Dova Terminates CEO Alex Sapir, Names David Zaccardelli Successor”
DBV Pulls FDA Application for Peanut Allergy Treatment, Stock Craters
The race to a peanut allergy treatment just got a little more interesting, with a major player, DBV Technologies withdrawing its application to the FDA for approval of its “Viaskin Peanut” patch. France-based DBV (NASDAQ: [[ticker:DBVT]]) said in a statement late Wednesday that its decision was based on feedback from the agency, and the company … Continue reading “DBV Pulls FDA Application for Peanut Allergy Treatment, Stock Craters”
Capital Factory in Houston, Austin Startup Funding, & More TX Tech
Let’s catch up with the latest innovation news in Texas. —Austin’s Capital Factory has announced a new partnership with The Cannon in Houston, one that will offer companies with space at Capital Factory reciprocal membership at the Houston coworking space, which opened last year. The Cannon also started Cannon Ventures to bring together angel investors interested … Continue reading “Capital Factory in Houston, Austin Startup Funding, & More TX Tech”
Gilead Sciences Commits $150M to Agenus in Cancer Drug R&D Pact
For the second time this week, Gilead Sciences has partnered with a Boston-area biotech, this time with a deal that covers up to five experimental cancer immunotherapies being developed by Agenus. Under the deal terms, Foster City, CA-based Gilead (NASDAQ: [[ticker:GILD]]) will pay Agenus (NASDAQ: [[ticker:AGEN]]) $120 million cash up front and make a $30 … Continue reading “Gilead Sciences Commits $150M to Agenus in Cancer Drug R&D Pact”