Two new battlegrounds emerged this week in the nation’s ongoing drug pricing debate. The first involved television: The federal government hopes that blaring prices in TV ads will essentially pressure drug makers into lowering them, and the pharma lobby fired back. The second centered around a group of pricey new migraine drugs: The nation’s largest … Continue reading “Bio Roundup: Prices on TV, Novartis Hearts Radio, Warp Drive’s End”
LogicBio Prices IPO Below Range, Raising $70M to Test Gene Therapy
LogicBio Therapeutics has joined the list of biotechs to go public this year but it had to cut the price of its IPO and sell more shares to pull it off. The Cambridge, MA, biotech priced its offering of 7 million shares at $10 apiece, raising $70 million to back human tests of its experimental … Continue reading “LogicBio Prices IPO Below Range, Raising $70M to Test Gene Therapy”
With $8M in New Capital, Vayavision Refines Raw Data Fusion for AVs
The race to get driverless cars on the road is a global endeavor, and one nation putting its pedal to the metal is Israel. A host of Israeli companies are working to develop the technologies that help these vehicles function properly, and one of those companies is called Vayavision. Based in Tel Aviv, Vayavision is … Continue reading “With $8M in New Capital, Vayavision Refines Raw Data Fusion for AVs”
RealSavvy Takes $2.5M to Bring Real Estate App to Three New States
Austin—RealSavvy, a customizable online service that enables real estate brokers and agents to communicate with potential clients, is taking a $2.5 million round of financing that the company will repay in payments based on its monthly revenue. Timia Capital is providing the revenue financing round. The Vancouver, Canada-based specialty finance firm makes these deals with … Continue reading “RealSavvy Takes $2.5M to Bring Real Estate App to Three New States”
Exact Sciences Acquires San Diego Lab Equipment Supplier Biomatrica
Exact Sciences has gone from being a customer of Biomatrica, a San Diego-based vendor of equipment for storing and preserving blood and saliva samples, to now being the company’s owner. Madison, WI-based Exact (NASDAQ: [[ticker:EXAS]]), which is developing diagnostic tests for several types of cancer, said Thursday that it has acquired Biomatrica for an undisclosed … Continue reading “Exact Sciences Acquires San Diego Lab Equipment Supplier Biomatrica”
Xconomy’s EXOME Presents: New York Biotech—How to Make it Here
“If you can make it there, you can make it anywhere.” Frank Sinatra may have written that line before dawn of the biotech industry, but it applies to New York City’s long running aspirations to become a top life sciences hub. It’s harder to build a successful life sciences company in New York City than … Continue reading “Xconomy’s EXOME Presents: New York Biotech—How to Make it Here”
Novartis Buys Endocyte for $2.1B, Making a Second Bet on Radiotherapy
Novartis has agreed to pay $2.1 billion cash to acquire Endocyte, expanding an ongoing effort by the Swiss firm to develop targeted radiation treatments for cancer. Under the agreement, Novartis (NYSE: [[ticker:NVS]]) will pay shareholders of West Lafayette, IN-based Endocyte (NASDAQ: [[ticker:ECYT]]) $24 per share, which is a 54 percent premium to the closing price … Continue reading “Novartis Buys Endocyte for $2.1B, Making a Second Bet on Radiotherapy”
A Year Early, Merck Touts Good Kidney Cancer News to Push Rival BMS
Merck could soon join rival Bristol-Myers Squibb in making immunotherapy an option for kidney cancer patients who have never had treatment before. Merck (NYSE: [[ticker:MRK]]) reported today that its blockbuster drug pembrolizumab (Keytruda) has hit its marks much earlier than expected in an 861-person Phase 3 study called Keynote-426. Merck tested a combination of pembrolizumab … Continue reading “A Year Early, Merck Touts Good Kidney Cancer News to Push Rival BMS”
AbbVie Commits $100M to Morphic in Fibrosis Drug R&D Alliance
AbbVie is positioning itself to add fibrosis drugs to its pipeline through a new research and development partnership with startup Morphic Therapeutics. Under the agreement, AbbVie (NYSE: [[ticker:ABBV]]) will pay Morphic $100 million up front for exclusive options to license the Waltham, MA, company’s fibrosis drugs. Morphic will be responsible for preclinical research and development. … Continue reading “AbbVie Commits $100M to Morphic in Fibrosis Drug R&D Alliance”
After $950K Investment, Codelicious Grows Collaborative Teaching Model
Codelicious, the Indianapolis-based educational tech startup, is on a mission to create access and remove barriers to teaching and learning computer science, says CEO Christine McDonnell. Over the summer, the organization raised nearly $1 million from Collina Ventures, GRE Capital, Elevate Ventures and others to advance its software platform that enables instructors to build their … Continue reading “After $950K Investment, Codelicious Grows Collaborative Teaching Model”
Post-IPO Chat With CEO of Anaplan as Its Trading Price Surge Holds
Enterprise planning software company Anaplan pulled off its IPO in the middle of a broad market slump last week—raising $263.5 million—and its 43 percent share price surge on the first day of trading continues to hold while Nasdaq and the Dow have yet to fully recover their lost value. Anaplan’s (NYSE: [[ticker:PLAN]]) IPO shares, which … Continue reading “Post-IPO Chat With CEO of Anaplan as Its Trading Price Surge Holds”
Nike’s Jim Scholefield Jumps to Merck to Lead Digital Strategy
Merck (NYSE: [[ticker:MRK]]) has appointed Jim Scholefield to serve as its chief information and digital officer. He starts his new job at the Kenilworth, NJ, pharmaceutical giant on Oct. 29. Scholefield is currently chief information officer at Nike (NYSE: [[ticker:NKE]]). His experience also includes executive roles at Coca-Cola (NYSE: [[ticker:KO]]), Northern Trust (NASDAQ: [[ticker:NTRS]]), and … Continue reading “Nike’s Jim Scholefield Jumps to Merck to Lead Digital Strategy”
Ziopharm Chief Medical Officer Francois Lebel to Step Down
Francois Lebel, chief medical officer of Ziopharm Oncology (NASDAQ: [[ticker:ZIOP]]), plans to step down from his position effective Oct. 26. The Boston cancer drug developer gave no reason for Lebel’s decision to leave the company. In a securities filing, Ziopharm said Lebel gave his notice on Oct. 10. Lebel has been Ziopharm’s chief medical officer … Continue reading “Ziopharm Chief Medical Officer Francois Lebel to Step Down”
All About Talent: Takeaways From MIT’s $1B Plan to Lead Way in A.I.
In 2011, Silicon Valley investor Marc Andreessen penned a widely read essay declaring that “software is eating the world.” If he were to write an updated version today, it might proclaim that machine learning is eating the world. Advances in data analytics and artificial intelligence technologies are starting to impact virtually every industry. In the … Continue reading “All About Talent: Takeaways From MIT’s $1B Plan to Lead Way in A.I.”
Wisconsin Insurance Software Firm Dynamis Sold to Applied Systems
Applied Systems, a Chicago-area company that sells its cloud-based software to groups in the insurance industry, announced Wednesday that it has acquired Dynamis Software. West Allis, WI-based Dynamis develops software that insurance brokers and agents can use to compare the different health plans available to their customers, most of whom are employers. A news release … Continue reading “Wisconsin Insurance Software Firm Dynamis Sold to Applied Systems”
In Boston, Paul Allen Aimed to Boost Bioscience’s “Tempo of Discovery”
The scientific interests of the late Microsoft co-founder Paul Allen led him to fund a pair of major research centers in the Boston area devoted to cracking mysteries of the human biological code—and aiming to recreate the sort of foundational work he and Bill Gates applied to personal computing in the 1970s. Allen—who died Monday … Continue reading “In Boston, Paul Allen Aimed to Boost Bioscience’s “Tempo of Discovery””
Report: Express Scripts Shuts Out Teva Migraine Drug, Prefers Rivals
[Updated 10/17/18, 2:52 p.m. See below.] Express Scripts has just exerted its influence over the emerging market battle between drug makers trying to sell a new class of migraine-preventing medicines. The pharmacy benefits manager (PBM) is excluding a new drug from Teva Pharmaceutical from coverage while favoring two rival treatments instead, according to a report … Continue reading “Report: Express Scripts Shuts Out Teva Migraine Drug, Prefers Rivals”
Icon Snags $9M for Tech to Print 3D Homes in 24 Hours for $4,000
Austin—Icon Technology, a company that builds 3D-printed homes and was permitted to construct its first home in Austin, TX, earlier this year, has closed a $9 million seed round of funding. The company plans to use some of the money to continue building homes in the U.S. and in the developing world, where it is … Continue reading “Icon Snags $9M for Tech to Print 3D Homes in 24 Hours for $4,000”
Spinraza Inventors Take Home $3M Breakthrough Prize in Life Sciences
The inventor and developer of a drug, nusinersen (Spinraza), are among the winners of the Breakthrough Prize in Life Sciences. Adrian Krainer (pictured) of Cold Spring Harbor Laboratory and Frank Bennett, senior vice president of research at Ionis Pharmaceuticals, share the $3 million award. The Breakthrough Prizes, now it their seventh year, tout themselves as … Continue reading “Spinraza Inventors Take Home $3M Breakthrough Prize in Life Sciences”
Startups, Eh? Latest Gener8tor Class Includes 2 Canadian Companies
Gener8tor went north of the border to find some of the participants in its latest Wisconsin startup accelerator program. The organization, which trains entrepreneurs and invests in some of the companies they run, appears to have picked two startups headquartered in Canada for Gener8tor’s current accelerator session in Milwaukee. The latest group of participants haven’t … Continue reading “Startups, Eh? Latest Gener8tor Class Includes 2 Canadian Companies”
ATyr Pharma Chief Scientific Officer, David King, to Resign
ATyr Pharma, a developer of protein drugs, said Monday its chief scientific officer will leave the company at year’s end. David King has been with San Diego, CA-based aTyr (NASDAQ: [[ticker:LIFE]]) for two years. He is resigning to start a biotech company, aTyr said in a prepared statement, which quoted King as saying that launching … Continue reading “ATyr Pharma Chief Scientific Officer, David King, to Resign”
SoftBank’s Arm to Include Cybereason Security Services in IoT Hub
Security-tech company Cybereason is announcing another boon flowing from close ties with its biggest investor, Japanese telecom and tech giant SoftBank. Boston-based Cybereason has formed a partnership with Arm, the dominant developer of computer chip architecture, which was acquired by SoftBank in 2016. Cybereason’s security services will be incorporated into the Arm Pelion IoT platform, a … Continue reading “SoftBank’s Arm to Include Cybereason Security Services in IoT Hub”
Citing Regulatory Uncertainty, Origin Code Academy to Close
Origin Code Academy, one of San Diego’s few coding schools—for-profit companies that offer short-term vocational training in computer programming—said this month it will shutter on Nov. 16 after about three years in business. The company opened in late 2015, offering a 12-week course for $13,500 and promising graduates a software job within 90 days of … Continue reading “Citing Regulatory Uncertainty, Origin Code Academy to Close”
Andreessen Leads $300M Bet on Devoted Health’s Senior Care Approach
If you had more than $300 million to try and fix the healthcare industry, how would you do it? For a startup called Devoted Health, the answer involves a combination of providing more home healthcare and support to the seniors it serves, as well as incorporating telemedicine and other technologies as part of a business … Continue reading “Andreessen Leads $300M Bet on Devoted Health’s Senior Care Approach”
CyberFortress Plans 2019 Launch as Cyber Insurance Industry Grows
San Antonio—[Updated 9/25/19, 1:22 p.m. See below.] Cybersecurity is a fast growing area of the insurance industry as insurers capitalize on the smattering of fear-inciting headlines, from the Equifax and Facebook breaches to the ever-present risk of ransomware. Large companies like Nationwide Mutual Insurance offer businesses liability coverage if their customers’ data is stolen. As … Continue reading “CyberFortress Plans 2019 Launch as Cyber Insurance Industry Grows”
Paul Allen’s Contributions, Far Beyond Microsoft, Touched the Brain, AI & More
Technology and life sciences leaders say they’ll remember Paul Allen, the Microsoft co-founder, philanthropist, and investor who passed away Monday at age 65, as an “inspiration” whose work will impact the fields he worked in for years to come. Allen died from complications of non-Hodgkin’s lymphoma, according to a statement from Vulcan, the Seattle-based philanthropy … Continue reading “Paul Allen’s Contributions, Far Beyond Microsoft, Touched the Brain, AI & More”
Eli Lilly’s David Bleakman Joins Redpin as Chief Scientific Officer
Redpin Therapeutics has appointed David Bleakman to serve as chief scientific officer of the New York biotech. Before joining Redpin, Bleakman spent 25 years at Eli Lilly (NYSE: [[ticker:LLY]]), most recently as vice president, chief scientific officer, and neuroscience site leader in New York. Redpin, a resident company at JLABS @ NYC, is developing drugs … Continue reading “Eli Lilly’s David Bleakman Joins Redpin as Chief Scientific Officer”
Rheos Medicines Names Gad Soffer Chief Operating Officer
Gad Soffer has been appointed chief operating officer of Cambridge, MA-based Rheos Medicines. Soffer most recently worked at Atara Biotherapeutics, where he was executive vice president and chief strategy officer. Before Atara, Soffer was executive director and global project leader at Celgene (NASDAQ: [[ticker:CELG]]). Rheos launched in March with a $60 million Series A round … Continue reading “Rheos Medicines Names Gad Soffer Chief Operating Officer”
Stratatech Gets $26M More to Develop Skin Tissue for Treating Burns
An agency within the U.S. Department of Health and Human Services has awarded Stratatech, a Madison, WI-based maker of human skin tissue, $26 million in new funding. Stratatech, which is developing cell-based regenerative skin tissue for burn victims and others, said the award will support pediatric studies of StrataGraft, the company’s flagship product. Stratatech is … Continue reading “Stratatech Gets $26M More to Develop Skin Tissue for Treating Burns”
Warp Drive’s Odyssey Ends with a Buyout—By Revolution, Not Sanofi
Warp Drive Bio started up in 2012 with a potential buyer, Sanofi, already in place. Six years later the Cambridge, MA, company is being acquired—by another startup, Revolution Medicines. The companies aren’t disclosing financial details of the acquisition, other than to say that Warp Drive’s shareholders will be issued Revolution stock. Third Rock Ventures founded … Continue reading “Warp Drive’s Odyssey Ends with a Buyout—By Revolution, Not Sanofi”
Tulerie Helps Users Dress Like Models, Without Breaking the Bank
Tulerie makes its debut today, joining a growing roster of online clothing rental startups. The New York-based Tulerie focuses on high-end couture—items that retail for $1,000 to $10,000—that might be worn a time or two but mostly take up space in a woman’s closet. The company is building a two-sided marketplace, with owners of haute … Continue reading “Tulerie Helps Users Dress Like Models, Without Breaking the Bank”
After Net Neutrality: How to Prepare for the Internet’s New Reality
The federal net neutrality regulation, which had guaranteed equal access to the Internet for data from all sources, is officially repealed. There are no longer federal rules ensuring that all Internet traffic must be treated equally, and no FCC protections to stop Internet Service Providers (ISPs) from engaging in blocking, throttling, or paid prioritization of … Continue reading “After Net Neutrality: How to Prepare for the Internet’s New Reality”
Fidelity’s New Crypto Startup Could Spark Wall Street Investment
Blockchain and cryptocurrency advocates have been waiting for large financial institutions to shed their wariness and begin investing meaningful amounts of money into the emerging technology. The sector may have gotten a significant catalyst on Monday, when Fidelity Investments announced it created a separate venture that will offer digital currency services to hedge funds, family … Continue reading “Fidelity’s New Crypto Startup Could Spark Wall Street Investment”
TX Tech Wrap: New Fundings, OJO Picks Up WolfNet, New Oracle Startups
There have been a flurry of announcements of new fundings for Texas startups. Let’s get caught up with the latest innovation news. —Hail Merry, a Dallas maker of raw, plant-based snacks, has raised a little over $1 million as part of a planned $1.26 million financing. The decade-old startup makes snacks and desserts that are … Continue reading “TX Tech Wrap: New Fundings, OJO Picks Up WolfNet, New Oracle Startups”
Former Amgen Exec Sersch Joins Mustang Bio as Chief Medical Officer
Mustang Bio (NASDAQ: [[ticker:MBIO]]) has appointed Martina Sersch to serve as chief medical officer. Sersch comes to New York-based Mustang from Amgen (NASDAQ: [[ticker:AMGN]]), where she was executive director. Mustang is developing cell therapies to treat cancer and gene therapies to treat rare, genetic disorders.
Rhythm Pharma Appoints Murray Stewart Chief Medical Officer
Murray Stewart has been appointed chief medical officer of Rhythm Pharmaceuticals (NASDAQ: [[ticker:RYTM]]). Stewart joins Boston-based Rhythm from Novelion Therapeutics (NASDAQ: [[ticker:NVLN]]), where he was head of R&D. His experience also includes 18 years at GlaxoSmithKline (NYSE: [[ticker:GSK]]), where he held several roles, including chief medical officer. Last year, Rhythm raised $120 million in an … Continue reading “Rhythm Pharma Appoints Murray Stewart Chief Medical Officer”
Study: Reflexion Health Virtual Therapy System Reduces Rehab Costs
Reflexion Health, which has developed a “virtual physical therapy” system for patients recovering from surgery, said results from a randomized controlled clinical trial completed by nearly 300 people showed patients who used the technology saved the healthcare industry an average of $2,745 compared to those who underwent traditional physical therapy. The study, which evaluated Reflexion’s … Continue reading “Study: Reflexion Health Virtual Therapy System Reduces Rehab Costs”
Fusion Coolant Systems Snags $8M Series C, Plans to “Hit Go Button”
Fusion Coolant Systems, the Canton, MI-based industrial tech startup spun out of the University of Michigan, has raised an $8 million Series C funding round. The investment was led by Material Impact, a Boston venture capital firm, and Michigan Capital Advisors, with participation from existing investors, including U-M’s Michigan Investment in New Technology Startups (MINTS), … Continue reading “Fusion Coolant Systems Snags $8M Series C, Plans to “Hit Go Button””
Room Service by Robot and Other Ways Tech Is Changing the Hotel Stay
More days than not, Michael Colaneri’s home is a hotel room. So innovations like “geolocation” sensors that automatically unlock his room door and adjust the thermostat when he’s nearby make the constant change easier—sometimes. “My experience has been exceptionally inconsistent,” he says. “When it’s worked, it’s really great, cool, and so efficient to the point … Continue reading “Room Service by Robot and Other Ways Tech Is Changing the Hotel Stay”
MIT Raises $650M for New College to Advance A.I. With Eye on Ethics
MIT is making another significant investment in artificial intelligence. The Institute announced Monday that it will establish a new college on its Cambridge, MA, campus—the MIT Stephen A. Schwarzman College of Computing—that will serve as an interdisciplinary hub for advancing ideas in computer science, artificial intelligence, data science, and related fields. The college is getting … Continue reading “MIT Raises $650M for New College to Advance A.I. With Eye on Ethics”
Alnylam Won’t Seek Quick FDA Nod For Second RNAi Drug
A few weeks ago, Alnylam Pharmaceuticals indicated it might seek a speedy FDA approval for what could be the second-ever RNA interference medicine to market. After meeting with regulators, however, the Cambridge, MA, company has come up with a different plan. Alnylam (NASDAQ: [[ticker:ALNY]]) said this morning that it won’t seek accelerated approval of an … Continue reading “Alnylam Won’t Seek Quick FDA Nod For Second RNAi Drug”
Roche and SQZ Biotech Expand R&D Pact in Pursuit of New Cancer Drugs
Roche, the world’s biggest cancer drug company, selected the technology of startup SQZ Biotechnologies to help it develop new cellular therapies for cancer. Three years after that drug alliance started, the partners are now broadening the immune cells covered by the collaboration. The companies are expanding their drug development pact to encompass drugs based on … Continue reading “Roche and SQZ Biotech Expand R&D Pact in Pursuit of New Cancer Drugs”
Ahead of WARF Keynote, Gigaom’s Reese Talks Academia’s Startup Push
Byron Reese, the Gigaom publisher and successful entrepreneur who has written extensively on how technology impacts society, says he believes the biggest future breakthroughs are likely to come from universities and startup companies, rather than large, publicly traded ones. “I think really disruptive things will always come from universities and entrepreneurs,” says Reese, whose most … Continue reading “Ahead of WARF Keynote, Gigaom’s Reese Talks Academia’s Startup Push”
Zendesk Opens New Madison Office With Room for 400+ Employees
Zendesk is ramping up its investments in Madison, WI, which is home to the customer-service software company’s second-largest U.S. office. On Friday, San Francisco-based Zendesk (NYSE: [[ticker:ZEN]]) said it’s celebrating the opening of its new office on Madison’s Capitol Square, in the heart of the city’s downtown, with a tailgate-themed party. (Brats and beer, anyone?) … Continue reading “Zendesk Opens New Madison Office With Room for 400+ Employees”
Energy, Real Estate & Other Firms Pledge Capital to HX Venture Fund
Houston—Houston Exponential, a group formed last year to boost the city’s innovation ecosystem, announced Thursday that its fund of funds has raised $25 million from nine corporate investors. That commitment makes up half of the planned $50 million size of the HX Venture Fund, and fund manager Guillermo Borda said he expected to close on … Continue reading “Energy, Real Estate & Other Firms Pledge Capital to HX Venture Fund”
Ansun BioPharma Adds Stanley Lewis to C-Suite
Ansun BioPharma has appointed Stanley Lewis to serve as its chief medical officer. Lewis comes to Ansun from TaiMed Biologics, where as CMO he oversaw the development of a treatment for multi-drug resistant HIV through to FDA approval. San Diego-based Ansun said Lewis will oversee the late-stage development of its lead candidate, DAS181, a treatment … Continue reading “Ansun BioPharma Adds Stanley Lewis to C-Suite”
Bristol Stumbles in Lung Cancer Again as Rivals Play Catch-Up
Nivolumab (Opdivo) recently became the first immunotherapy ever approved for people with small cell lung cancer (SCLC), a particularly aggressive form of the deadly disease. But the lead given to its developer, Bristol-Myers Squibb, may be short-lived. Bristol (NYSE: [[ticker:BMY]]) said today that its immunotherapy nivolumab (Opdivo) failed a Phase 3 study called Checkmate 331. … Continue reading “Bristol Stumbles in Lung Cancer Again as Rivals Play Catch-Up”
Adynxx Agrees to Merger with Alliqua to Gain Public Stock Listing
The number of biotech companies completing an IPO has swelled this year and Adynxx aims to join their ranks—but through an alternate path. The pain drug developer has agreed to combine operations with publicly traded Alliqua Biomedical. Under the merger agreement announced Friday, shares of Adynxx will convert into Alliqua (NASDAQ: [[ticker:ALQA]]) stock, leaving former … Continue reading “Adynxx Agrees to Merger with Alliqua to Gain Public Stock Listing”
Bio Roundup: BIO Diversity, Allogene IPO, CRISPR In Utero & More
Nearly four years after investors snapped up new shares of Juno Therapeutics in a $265 million IPO, cancer immunotherapy remains a hot ticket. Like Juno, Allogene Therapeutics just pulled in a massive IPO haul, nearly $300 million. And like Juno, Allogene is working with a live immune-cell treatment called CAR-T, but it is harvesting cells … Continue reading “Bio Roundup: BIO Diversity, Allogene IPO, CRISPR In Utero & More”
Reuters Report Ranks U-M Among World’s Most Innovative Universities
The University of Michigan has been named one of the 100 most innovative university systems in the world in a new report issued Thursday by Reuters. Reuters said the list ranks “educational institutions doing the most to advance science, invent new technologies, and power new markets and industries.” U-M snagged the 23rd spot, making it the … Continue reading “Reuters Report Ranks U-M Among World’s Most Innovative Universities”