Vertex Pharmaceuticals already dominates the landscape of treatments for cystic fibrosis, and its position got even better today. Vertex (NASDAQ: [[ticker:VRTX]]) said that a cocktail of three of its cystic fibrosis drugs succeeded in two late-stage studies, bolstering the company’s chances to potentially offer a treatment that addresses up to 90 percent of patients who … Continue reading “Vertex Hits Again in CF as First Three-Drug Combo Succeeds in Phase 3”
Ireland to Sequence 400K Genomes With New Precision Medicine Effort
Ireland is the latest country to undertake an ambitious national project to sequence the genomes of a sizable chunk of its population. Genomics Medicine Ireland (GMI), a population genomics company based in Dublin (pictured), announced today that it is receiving $225 million in “near-term” investment (up to a total of $400 million with milestone payments) … Continue reading “Ireland to Sequence 400K Genomes With New Precision Medicine Effort”
X4 Pharma Heads to Nasdaq Via Reverse Merger with Arsanis
A tough setback for Arsanis has given privately held X4 Pharmaceuticals the chance to go public. Arsanis (NASDAQ: [[ticker:ASNS]]) and X4, two Boston-area biotech firms, agreed Tuesday morning to merge in a deal that will enable X4 to become a publicly traded company. The combined company will keep the X4 name and be led by … Continue reading “X4 Pharma Heads to Nasdaq Via Reverse Merger with Arsanis”
U-M’s Undergraduate Entrepreneurship Program Ranked Best in U.S.
The University of Michigan has spent the better part of a decade beefing up classes and programs that teach students how to start and run their own companies, and those efforts appear to be paying off. Earlier this month, Princeton Review and Entrepreneur magazine rated U-M as the best undergraduate program for entrepreneurship in the … Continue reading “U-M’s Undergraduate Entrepreneurship Program Ranked Best in U.S.”
To Show Off SD Startups, Investors Hit the Road with New TV Show
First there was “Comedians in Cars Getting Coffee.” Now four San Diego, CA-based investors are debuting “VCs in a Van,” a vehicle (no pun intended) meant to spotlight local companies ripe for funding. The show tracks the financiers—Neil Senturia, Tom Tullie, Mark Bowles, and Taner Halicioğlu—as they visit a handful of San Diego-based early-stage businesses … Continue reading “To Show Off SD Startups, Investors Hit the Road with New TV Show”
ImmunoGen CFO David Johnston Resigns, Will Depart at End of Year
David Johnston, CFO of ImmunoGen (NASDAQ: [[ticker:IMGN]]) since 2013, has resigned effective immediately, the Waltham, MA-based company announced Monday. In a securities filing, ImmunoGen said Johnston he will remain an employee through the end of the year and then will serve as a paid consultant for up to 12 months. While ImmunoGen searches for Johnston’s … Continue reading “ImmunoGen CFO David Johnston Resigns, Will Depart at End of Year”
Takeda’s David Kerstein Joins Anchiano as Chief Medical Officer
David Kerstein has joined Anchiano Therapeutics as the company’s chief medical officer. Kerstein comes to Anchiano from Takeda Pharmaceutical (OTCMKTS: [[ticker:TKPYY]]), where he was senior medical director of oncology clinical research. Anchiano, which splits its operations between Cambridge, MA, and Jerusalem, Israel, develops cancer drugs. The company’s most advanced compound, inodiftagene vixteplasmid, is in a … Continue reading “Takeda’s David Kerstein Joins Anchiano as Chief Medical Officer”
Genetic Medicine: FDA OKs 2nd Cancer Drug That Targets DNA, Not Tissues
[Updated 11/26/18. See below.] Going deeper into the new world of genetic medicine, the FDA has for the second time approved a drug that targets a tumor’s DNA fingerprint, no matter where in the body that cancer is found. And more could be on the way. The drug is larotrectinib (Vitrakvi), from Loxo Oncology (NASDAQ: … Continue reading “Genetic Medicine: FDA OKs 2nd Cancer Drug That Targets DNA, Not Tissues”
After Deal Stalled, Shine Medical Eyeing Up to $160M from Deerfield
[Update 11/27/18 8:34 p.m.] Following the publication of an Xconomy report that Shine Medical Technologies appeared to be on the verge of landing a nine-figure investment from Deerfield Management, the two companies said Tuesday that Deerfield will invest up to $150 million in Shine to support the construction of a radioisotope-manufacturing facility. [Story originally published … Continue reading “After Deal Stalled, Shine Medical Eyeing Up to $160M from Deerfield”
As It Aims to Go Public, Seismic Taps Former ServiceNow Exec as CFO
Seismic, one of San Diego’s most prominent enterprise software companies, has tapped a member of the team behind one of the region’s most successful tech startup stories to prep for its own prospective market debut. The software developed by Seismic, part of the relatively new sales enablement industry, helps marketing and sales teams manage, automate … Continue reading “As It Aims to Go Public, Seismic Taps Former ServiceNow Exec as CFO”
FDA Halts Clinical Test of Zafgen Diabetes Drug, Stock Price Tumbles
The FDA has ordered Zafgen to suspend a mid-stage study testing its experimental diabetes drug, an apparent precautionary move. A clinical hold halts patient enrollment and also stops already enrolled patients from receiving the study drug due to a potential safety risk. No safety problems have been reported for the drug, ZGN-1061, so far. But … Continue reading “FDA Halts Clinical Test of Zafgen Diabetes Drug, Stock Price Tumbles”
After Head Injury Drug Fails, Edge Merges with Immuno-Oncology Firm PDS
An experimental head injury drug took Edge Therapeutics all the way to the public markets. But one failed clinical trial later and the company is now heading for the exits. Edge (NASDAQ: [[ticker:EDGE]]) this morning announced plans to merge with a privately held company, PDS Biotechnology of North Brunswick, NJ, that is developing a group … Continue reading “After Head Injury Drug Fails, Edge Merges with Immuno-Oncology Firm PDS”
Necessity Vs. Innovation-Based Entrepreneurs
What makes someone an entrepreneur? Most simply defined, an entrepreneur is a person who identifies a need and starts a business to fill that void. But others will argue that a “true” entrepreneur must come up with an innovative new product or service and then operates their business to sell and profit from that innovation. … Continue reading “Necessity Vs. Innovation-Based Entrepreneurs”
Robots and Tax Breaks: How Plus One Robotics Started in San Antonio
San Antonio—Toyota opened a large-scale manufacturing plant in San Antonio, TX, in 2006, where both humans and computer-controlled Yaskawa robots began to build Tundra and Tacoma trucks. Erik Nieves moved to San Antonio because someone had to install, program, and maintain those robots. Nieves was the man for the job: Not only was he originally … Continue reading “Robots and Tax Breaks: How Plus One Robotics Started in San Antonio”
ASH 2018: A Guide to the Latest for Blood-Borne Cancers and More
[Note: Ben Fidler co-authored this report.] This weekend, San Diego will host the annual American Society of Hematology conference, the largest U.S. medical gathering to get the latest on blood diseases, and a venue for updates on some of the most cutting-edge biotechnologies that only a few years ago seemed like science fiction. Using the … Continue reading “ASH 2018: A Guide to the Latest for Blood-Borne Cancers and More”
Diversity in Venture Capital: Scenes From Culture Shifting Weekend
While women and minorities make up 70 percent of the population, less than two percent of the tens of trillions of dollars in the asset management industry are entrusted to women or minorities. In recent years, gains have been made among women in venture capital. Diversity beyond gender, though, continues to lag. That’s part of … Continue reading “Diversity in Venture Capital: Scenes From Culture Shifting Weekend”
Formlabs Competitor DWS Sues in Latest 3D Printing Patent Fight
Italian 3D printing technology firm DWS Systems is suing Formlabs for infringing its stereolithography patent, marking the Somerville, MA-based company’s latest legal battle over the technology in its popular 3D printer models. DWS filed the counterclaim in U.S. District Court in Virginia in response to an earlier lawsuit by Formlabs to consolidate a slew of … Continue reading “Formlabs Competitor DWS Sues in Latest 3D Printing Patent Fight”
Michigan Mobility Challenge Awards Funding to Innovation Projects
The Michigan Mobility Challenge, a state grant program for innovative multi-modal transportation projects, has begun handing out money to grantees. From the $8 million in available funds, nine projects totaling $3.7 million have been awarded grants so far. Jean Ruestman, who administers the program for the Michigan Department of Transportation, says she’s thrilled with the … Continue reading “Michigan Mobility Challenge Awards Funding to Innovation Projects”
Benjamin Harshbarger Steps In as Interim CEO at Novelion
Novelion Therapeutics (NASDAQ: [[ticker:NVLN]]) has appointed Benjamin Harshbarger interim CEO. Harshbarger had been general counsel for the Vancouver, BC-based company for the past two years. He is taking the place of Jeffrey Hackman, who Novelion says has resigned as interim CEO to pursue another opportunity. The company added that Hackman will remain with the company … Continue reading “Benjamin Harshbarger Steps In as Interim CEO at Novelion”
Immigrants Are Key to Winning the AI Arms Race
If we want to create jobs and economic opportunity here in the U.S., we’re going to need immigrants. Not only have they pioneered our country’s greatest achievements, bringing you everything from hot dogs to YouTube, but today they serve at the cutting edge of our foremost industries. Nowhere is this more true than in the … Continue reading “Immigrants Are Key to Winning the AI Arms Race”
Flatiron Health, Quentis, Rgenix & More at New York Biotech: How to Make It Here
We’re bringing the New York biotech community together once again on Tuesday, December 18 for our latest life sciences event—New York Biotech: How to Make it Here. At Riverpark at the Alexandria Center, leaders from Flatiron Health, Quentis Therapeutics, Rgenix, and the Partnership Fund for New York City will talk through how they’ve been trying … Continue reading “Flatiron Health, Quentis, Rgenix & More at New York Biotech: How to Make It Here”
Thanksgiving Pie, Brought to You By “Chuck” the Warehouse Robot
Robots may not have taken all of our jobs (yet), but they are already starting to nibble at our volunteer hours at holiday bake sales. And this one has a taste for pie. Chuck, the creation of Waltham, MA-based 6 River Systems, was sizing up Community Serving’s 26th annual Pie in the Sky bake sale … Continue reading “Thanksgiving Pie, Brought to You By “Chuck” the Warehouse Robot”
Cybersecurity Startup AttackIQ Hires New, Bay Area-Based CEO
Cybersecurity startup AttackIQ has appointed veteran tech executive Brett Galloway as its new CEO. AttackIQ said Galloway is taking over the role from Carl Wright, who has been named chief commercial officer. Wright was hired as chief revenue officer in August 2017. The company said he was named interim CEO in September of this year. … Continue reading “Cybersecurity Startup AttackIQ Hires New, Bay Area-Based CEO”
Silvergate Bank Files for IPO to Grow Cryptocurrency Services
Silvergate Bank has transformed itself in recent years from a typical business bank to one of the financial institutions of choice for digital currency companies. Now the cryptocurrency-friendly bank, which is headquartered in La Jolla, CA, is preparing to go public. On Tuesday it set a $50 million price target, according to documents filed with … Continue reading “Silvergate Bank Files for IPO to Grow Cryptocurrency Services”
Roundup: Accelerate Michigan, Waymark, ACM, Detroit FinTech Bay, More
The holiday season will soon be upon us, but that doesn’t mean work is slowing down in Michigan’s innovation hubs. Here’s a look at recent technology and entrepreneurship news from across the state. —The Accelerate Michigan Innovation Competition, hosted by Invest Detroit’s ID Ventures on Nov. 13, announced the 2018 winners selected from a field … Continue reading “Roundup: Accelerate Michigan, Waymark, ACM, Detroit FinTech Bay, More”
Startup Flightpath Finance Snags Seed Funding from Active Capital
San Antonio—Flightpath Finance, a startup that works with customers’ accounting software, has taken a $515,000 round of funding that was led by Active Capital and other San Antonio investors. Flightpath sells a service that tracks and forecasts revenue, cash, and expenses for businesses, integrating with its customers’ accounting software and other internal data. It’s a … Continue reading “Startup Flightpath Finance Snags Seed Funding from Active Capital”
PellePharm Inks $70M Deal with LEO Pharma for Skin Cancer Drug
PellePharm now has a partner to finance late-stage clinical tests of its experimental treatment for a rare skin cancer that has no FDA-approved drug treatment. Denmark-based LEO Pharma has agreed to pay $70 million to PellePharm for the biotech startup’s Phase 3 study of patidegib, a topical gel developed to prevent and treat Gorlin syndrome. … Continue reading “PellePharm Inks $70M Deal with LEO Pharma for Skin Cancer Drug”
How Blockchain Is Finding a Place at Your Thanksgiving Table
The food we buy in grocery stores and restaurants has a story to tell about where it came from and each step it took on its journey to your dinner table. Blockchain technology can help tell that tale. The story many food companies want to tell these days is about safety. Earlier this year, an … Continue reading “How Blockchain Is Finding a Place at Your Thanksgiving Table”
Uber Expands Its E-Bike Service, Jump, to 2 More West Coast Cities
Hundreds of red, “dockless” electronic bikes appeared on the streets of San Diego and Seattle on Monday, the latest cities in which Uber introduced its e-bike program, Jump. The expansion comes days after Uber began rolling out the bike-sharing service across Los Angeles. The San Francisco-based ride-hailing giant acquired Jump Bikes, a Brooklyn e-bike sharing … Continue reading “Uber Expands Its E-Bike Service, Jump, to 2 More West Coast Cities”
Agbio Startup Cibus Files for an IPO to Support Gene-Editing R&D
Cibus, which has developed a proprietary gene-editing technology that tweaks crops’ DNA to improve yield, is planning to make its public market debut. The San Diego-based biotech set a preliminary $100 million target for its IPO in documents filed with securities regulators Friday. That figure will change as the company determines how many shares it … Continue reading “Agbio Startup Cibus Files for an IPO to Support Gene-Editing R&D”
With $23M in Hand, Rock River Shifts from Fundraising to Investing
A young Wisconsin venture capital firm has raised more than $23 million for its first fund, and plans to soon begin drawing on the pool of money to back startups based in the state. Rock River Capital Partners said in a document filed with federal securities regulators last week that the size of its first … Continue reading “With $23M in Hand, Rock River Shifts from Fundraising to Investing”
Jason Ryan of Foundation Medicine Joins Magenta’s C-Suite
Magenta Therapeutics (NASDAQ: [[ticker:MGTA]]) has appointed Jason Ryan to serve as chief operating and financial officer, effective Jan. 1. Ryan is joining Cambridge, MA-based Magenta from Foundation Medicine, where he was CFO. Magenta, which is developing treatments for autoimmune diseases, blood cancers, and genetic diseases, completed its IPO in June.
Eli Lilly Executive Robert Brown Named Brickell Biotech CEO
Brickell Biotech has appointed Robert Brown to serve as CEO, starting Jan. 1. He will also join the Boulder, CO, company’s board of directors. Brown is taking the place of CEO and co-founder Reginald Hardy, who will remain on the board and will serve as an advisor to his successor. Brown is currently chief marketing … Continue reading “Eli Lilly Executive Robert Brown Named Brickell Biotech CEO”
TMCx, Microsoft Buys XOXCO, Self Lender Raises $10M & More TX Tech
Let’s catch up with the latest innovation news in Texas. —The Texas Medical Center’s accelerator TMCx graduated its seventh class of startups, 23 health IT companies which included nine international startups. Erik Halvorsen, director of the TMC Innovation Institute, said that in the four-month program, the startups had signed four agreements each, including strategic partnerships, … Continue reading “TMCx, Microsoft Buys XOXCO, Self Lender Raises $10M & More TX Tech”
Plant-Based Burger Maker Beyond Meat Cooks Up Plans for an IPO
We’ll soon find out if Wall Street has the appetite for investing in alternative meat technology. Beyond Meat, a maker of plant-based meat products, has filed for an IPO. The El Segundo, CA-based company set a preliminary target of $100 million for the stock offering, a figure that will likely change as the company moves … Continue reading “Plant-Based Burger Maker Beyond Meat Cooks Up Plans for an IPO”
X·CON 2018: Photos From Three Innovation Days in November
On November 4-6, Xconomy organized a meeting of the minds—an elite gathering of leaders in technology, business, healthcare, education, and energy—to discuss and demonstrate the key trends in their fields, heading into next year. Our expert speakers and attendees at X·CON 2018 tackled everything from the impact of artificial intelligence on enterprises to the emerging … Continue reading “X·CON 2018: Photos From Three Innovation Days in November”
Human Space Travel as a Platform to Accelerate Biomedical Innovation
A manned mission to Mars is slated for as early as 2024, but there are serious health risks that must be mitigated in order for such a mission to be successful. The most pressing risk identified by NASA is radiation exposure. Instead of stunting our spirit of exploration, there is an urgent need to develop effective radioprotection strategies to … Continue reading “Human Space Travel as a Platform to Accelerate Biomedical Innovation”
Wonolo Scores $32M to Expand Blue-Collar Gig Workers’ Marketplace
Wonolo, which runs a marketplace where companies can find fill-in staffers for jobs like stocking store shelves and warehouse chores, announced Monday that it raised $32 million in a Series C funding round led by Bain Capital Ventures. Bain Capital also invested this year in another tech startup focused on blue collar workers: UpKeep, which … Continue reading “Wonolo Scores $32M to Expand Blue-Collar Gig Workers’ Marketplace”
WI Watchlist: Gener8tor, FluGen, Sift Healthcare, Titan Spine
Before everyone tucks into turkey later this week, let’s catch up on some recent headlines from Wisconsin’s high-tech sectors: —Wisconsin-based Gener8tor, which runs a network of programs that train and invest in startups, continues to expand. Its latest offering is the OnRamp Insurance Accelerator, an insurance technology-focused program that will be located in the Minneapolis … Continue reading “WI Watchlist: Gener8tor, FluGen, Sift Healthcare, Titan Spine”
Cellectar Announces Resignation of Chief Medical Officer John Friend
John Friend, vice president and chief medical officer of Cellectar Biosciences (NASDAQ: [[ticker:CLRB]]), on Tuesday tendered his resignation from the company, Cellectar said in a regulatory filing. Friend’s last day is Nov. 27, according to the filing, which did not specify reasons for his departure. Madison, WI-based Cellectar is developing drugs with the potential to … Continue reading “Cellectar Announces Resignation of Chief Medical Officer John Friend”
Connect Taps Tega Therapeutics CEO, Springboard Grad as Chairman
Connect, the longstanding nonprofit organization that runs one of San Diego’s best-known startup accelerator programs, said Thursday that Tega Therapeutics CEO Tim Scott will become chairman of its board of directors on Dec. 1. Scott has a long history with the organization. As part of the founding group that, in 1999, launched San Diego-based Internet … Continue reading “Connect Taps Tega Therapeutics CEO, Springboard Grad as Chairman”
Tocagen Appoints Lori Kunkel as Acting Chief Medical Officer
Tocagen (NASDAQ: [[ticker:TOCA]]), which is developing a gene therapy for brain cancer, said Thursday it has appointed board member Lori Kunkel as its acting chief medical officer effective Nov. 26. The San Diego-based company said its current CMO and senior vice president, Asha Das, is leaving as of Nov. 23 to “focus on unforeseen and immediate … Continue reading “Tocagen Appoints Lori Kunkel as Acting Chief Medical Officer”
Boston Tech Watch: Bento, MassChallenge, Apprenti, DUST, Chaossearch
[Updated 11/16/18, 2:15 pm. see below] Accelerators and apprenticeships, venture deals and partnerships. Here’s a roundup of Boston technology news bits from the week. Read on: —Nonprofit tech accelerator MassChallenge is toying with launching a for-profit entity to help alumni of the program “further accelerate their growth.” It’s unclear what form that entity might take, … Continue reading “Boston Tech Watch: Bento, MassChallenge, Apprenti, DUST, Chaossearch”
Bio Roundup: Moderna’s IPO, Arena’s Comeback, E-Cig Survey & More
Thanksgiving is around the corner and this week delivered a bounty of deals that have a number of life science companies expressing their thanks a little early. One deal saw a company land a whopping $800 million upfront for a rights to a drug still in clinical testing. Another biotech landed a $98 million investment … Continue reading “Bio Roundup: Moderna’s IPO, Arena’s Comeback, E-Cig Survey & More”
Silicon Valley Advisory: Make Talent Retention Personal
It took me by complete surprise. Here I was thinking we were on the same page, that we were doing some good things together and, despite some challenges, we made a pretty good team. So, when one of my brightest early talent employees walked into my office to tell me he was leaving, I asked … Continue reading “Silicon Valley Advisory: Make Talent Retention Personal”
Shyft Raises $6.5M for Staffing Tools Used by Workers and Employers
Shyft Technologies, a Seattle-based startup that has developed a software platform for retail and hospitality workers, and their employers, says it has raised $6.5 million in new funding to further develop its product. Two venture capital firms based in the Seattle area, Ignition Partners and Madrona Venture Group, led the Series A round, Shyft says. … Continue reading “Shyft Raises $6.5M for Staffing Tools Used by Workers and Employers”
Airspace Technologies Brings In $20M to Scale Its Logistics Business
[Updated 5:20 p.m. See below.] Having to wait for a package to arrive generally doesn’t result in severe consequences, besides perhaps a feeling of frustration. Some deliveries, however, are only useful if they arrive on time. Logistics startup Airspace Technologies says its software, developed specifically for time-sensitive shipments—donated organs slated for transplant and replacement parts … Continue reading “Airspace Technologies Brings In $20M to Scale Its Logistics Business”
Now With Siemens, Low-Code Firm Mendix Still Plotting Its Own Course
If you thought Siemens’ $730 million purchase of Boston-based business app developer Mendix would have locked the digital company’s focus onto the factory floor, CEO Derek Roos wants you to know you’re wrong. The reality, Roos claims, is that the Mendix deal is more about transforming Siemens. “Why would Siemens buy a horizontal, industry-agnostic cloud … Continue reading “Now With Siemens, Low-Code Firm Mendix Still Plotting Its Own Course”
Sigilon Therapeutics Names Deya Corzo Chief Medical Officer
Deya Corzo has been appointed chief medical officer of Sigilon Therapeutics. Corzo comes to the Cambridge, MA, drug developer from women’s health company Sojuournix, where she was senior vice president of R&D and chief medical officer. Her experience also includes posts at uniQure (NASDAQ: [[ticker:QURE]]) and Celgene (NASDAQ: [[ticker:CELG]]). Sigilon has developed a way to … Continue reading “Sigilon Therapeutics Names Deya Corzo Chief Medical Officer”
Genentech’s Elizabeth Jeffords Joins Alkahest C-Suite
Elizabeth Jeffords has joined Alkahest as chief commercial and strategy officer. Jeffords comes to the San Carlos, CA, biotech from Roche subsidiary Genentech, where she was vice president of the unit’s U.S. ophthalmology portfolio. Alkahest develops therapies for age-related diseases. The company’s pipeline includes drug candidates for Alzheimer’s disease and age-related macular degeneration.