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Bio Roundup: Nationwide’s Rise, a Surgeon’s Quest, CRISPR USA & More

Persistence and perseverance were the themes of two of our top stories this week.First there’s the story of Nationwide Children’s Hospital. The Columbus, Ohio, hospital chose to invest in gene therapy when the field was in its darkest days. After some ups and downs, the team it put in place helped advance some of the most promising gene therapies currently in human testing—and put Nationwide in the national spotlight as one of those treatments nears FDA approval.Then there’s Suzanne Ildstad. A ...
Tags: Boston blog main, Boston top stories, Boulder/Denver blog main, Boulder/Denver top stories, Detroit blog main, Detroit top stories, Indiana blog main, Indiana top stories, National, National blog main, National top stories, New York blog main, New York top stories, Raleigh-Durham blog main, Raleigh-Durham top stories, San Diego blog main


$100M For Talaris Gives Surgeon a Shot to Reinvent Organ Transplants

When Novartis dissolved its gene and cell therapy unit a few years ago, a bunch of projects the Swiss pharma giant had incubated were tossed aside. One of them was the work of surgeon Suzanne Ildstad, who has spent decades trying to develop a new way to improve the health outcomes of patients who need organ transplants.That work has just been salvaged. If it plays out as Ildstad hopes, her company might not only help transform treatment for kidney failure patients—but possibly, for people suffe...
Tags: Deals, Startups, Boston, Trends, Vc, National Institutes of Health, Novartis, Stem Cell, Stanford University, Life Sciences, Blackstone Group, Louisville Ky, National blog main, New York blog main, New York top stories, Seattle blog main


6sense Raises $27M to Uncover Hidden Interests of B2B Buyers

Let’s say you’re wondering whether another software provider could do a better job for your business than the one you already use. You start a web search on its competitors. Suddenly, you get a friendly message from your current software provider, asking how things are going.Was it a sixth sense? Nope, as you can probably guess by now. It’s technology.Companies such as 6sense are using advanced data analytics and artificial intelligence software to help their customers find early signals of int...
Tags: Deals, Startups, Mobile, Internet, Entrepreneurship, Funding, San Francisco, Trends, Tech, Cisco, Web, It, Vc, Artificial Intelligence, Software, Fundraising


Lyft, Uber, and the Changing Disclosure Rules For Unicorn IPOs

When a much-watched tech company such as Lyft, Uber, or Pinterest files for an initial public stock offering, people eagerly scour the sudden trove of information that such a private business must finally disclose when it begins to offer shares to the general public, rather than only to sophisticated inside investors such as venture capital firms.For newly public company Lyft, (NASDAQ: LYFT) though, the IPO disclosure requirements were significantly lower than they would usually be for business...
Tags: Deals, Startups, Transportation, Mobile, Lyft, Uber, Hardware, Pinterest, Internet, Entrepreneurship, Ipo, Funding, San Francisco, Trends, Tech, Financial Crisis


Thwarting Opposition, Bristol Gets Shareholder OK for $74B Celgene Buyout

The early opposition has turned out to be just noise. Shareholders of Bristol-Myers Squibb today approved the pharma giant’s planned buyout of Celgene, paving the way for a deal that will create one of the largest biopharma organizations in the world, and send ripples throughout the sector. (NYSE: BMY) said Friday that more than 75 percent of its shareholders voted to approve the deal at a meeting on Friday. Some 98 percent (NASDAQ: CELG) of Celgene’s stockholders supported the deal, the compa...
Tags: Deals, New York, Trends, Merck, M&a, Life Sciences, Nyse, Celgene, Bristol-myers Squibb, National blog main, New York blog main, New York top stories, Seattle blog main, Seattle top stories, Boston blog main, National top stories


VC Trends in 2019: More Money, Fewer Deals But Women Still Get Less

If you’ve been following venture capital trends, what you expected to happen in the first quarter of 2019 did: More money is being invested in fewer deals, and women founders still are getting less of it than men.Venture firms sent $32.6 billion into startups nationally during the first three months of 2019, the second largest amount for any quarter since at least 2006, according to data released overnight by PitchBook and the National Venture Capital Association. But that large sum came from o...
Tags: Deals, Startups, Lyft, Uber, Hardware, Entrepreneurship, Softbank, Funding, Women, Trends, Tech, Vc, Software, Physics, Pwc, Venture Capital


Bio Roundup: Gottlieb’s Goodbye, AACR Recap, Migraine Drug Fight & More

Scott Gottlieb’s last day as FDA commissioner is today. His resignation announcement last month surprised some, given the earlier denials about leaving. But after two years of commuting between Connecticut, where his family remained, and the FDA’s Maryland headquarters, he decided to step down from the agency.What will Gottlieb’s legacy be? His efforts to curb teen vaping comes to mind. Or maybe it’s regulation. While Gottlieb remained mindful of the FDA’s oversight role, he also tried to strea...
Tags: Deals, Startups, Maryland, Breast Cancer, Trends, Investing, Lung Cancer, Connecticut, Cigna, Venture Capital, Fda, National, Novartis, Pfizer, Biotech, Insulin


NGM Bio’s IPO Raises $107M as NASH Drug Continues Clinical Testing

So far this year, NGM Biopharmaceuticals has licensed a drug to Merck, extended a research agreement with that partner, and laid the groundwork to continue mid-stage testing of its wholly-owned lead compound. Now it can add a $107 million IPO to the list.Late Wednesday, NGM sold appoximately 6.7 million shares for $16 apiece, the high end of the price range the South San Francisco company had planned. Those shares are expected to begin trading on the Nasdaq exchange Thursday under the stock sym...
Tags: Deals, Drugs, Ipo, Cancer, San Francisco, Trends, Investing, Merck, Diabetes, Venture Capital, Fda, Type 2 Diabetes, Biotech, Nasdaq, Life Sciences, Clinical Trials


Bio Roundup: Amyloid Angst, NASH News, Brammer Bagged & More

A week after , the ripple effects are still being felt—and not just by Biogen, which lost billions of dollars in market value in a flash.We’ll kick off this week’s roundup with the aducanumab reaction, which includes plenty of thoughts about the future of the so-called “amyloid hypothesis” and what’s next for another Biogen Alzheimer’s drug that has had mixed results.We’ll also check in on the gene therapy deal spree, the big week in national healthcare policy, and the preparations several com...
Tags: Deals, Obamacare, Trends, Alzheimer's Disease, Affordable Care Act, National, Pfizer, Medicaid, Xarelto, Federal Trade Commission, Life Sciences, Bayer, Clinical Trials, Celgene, Gilead Sciences, Eisai


Lyft Raises $2.2B in IPO, Pegging Valuation at Over $24B

Investors eager to bet on the mobility industry’s future handed ride-hailing company Lyft $2.2 billion in new capital Thursday as the company completed an IPO that set its market capitalization at $24.3 billion, The New York Times reported.Lyft sold 30.8 million shares at $72 apiece, according to Renaissance Capital—the top of a new range that Lyft originally set at $62 to $68. The company was valued at $15.1 billion at the time of its last fundraising in mid-2018.Lyft’s pricey showing rivals A...
Tags: Deals, Startups, Mobile, Lyft, Uber, Hardware, Marketplace, Pinterest, Entertainment, Internet, Entrepreneurship, Funding, US, San Francisco, Trends, Tech


CRISPR Diagnostic Race Heats Up as Sherlock Bio Launches With $35M

The high-stakes race to use CRISPR gene editing technology to create medicines has been underway for years now, and human trials are just starting. But the idea of using CRISPR as a tool to detect and diagnose a disease has been gaining traction, too, and the launch of a new startup today called Sherlock Biosciences marks the latest step.Sherlock has been formed around technologies licensed from the Broad Institute of MIT and Harvard University, dubbed “SHERLOCK” and “INSPECTR,” respectively, t...
Tags: Deals, Startups, Boston, Trends, Vc, Harvard University, Sherlock, Crispr, Illumina, Life Sciences, Jim Collins, Broad Institute of MIT, Jennifer Doudna, Gene Editing, Feng Zhang, David Walt


New Funding for Workplace Software Firms Skedulo and Scope AR

Two young San Francisco companies on Wednesday announced fundraisings to bolster their online services aimed at improving workforce efficiency.—Skedulo, which helps managers schedule assignments for field service personnel, says it raised $28 million in a Series B funding round led by M12, Microsoft’s corporate venture arm. Joining in the round were previous investors Blackbird, a venture capital firm based near Sydney, Australia, and Palo Alto, CA-based Costanoa Ventures. M12 principal Priya S...
Tags: Deals, Startups, Mobile, Microsoft, Workplace, Internet, Entrepreneurship, Funding, San Francisco, Trends, Tech, Unilever, Web, It, Vc, Software


Bio Roundup: Golumbeski’s Legacy, CRISPR Moratorium, Rebate Week & More

While all eyes in the biopharmaceutical world are currently trained on Bristol-Myers Squibb’s proposal to buy Celgene for $74 billion, it wasn’t that long ago that another company’s gaze was fixed on the Summit, NJ, drug maker.In the early 2000s, before the FDA approved Celgene’s flagship multiple myeloma drug lenalidomide (Revlimid), Novartis (NYSE: NVS considered buying the company. It passed, unwilling to risk billions on an unapproved drug. Those details came from biopharma dealmaker George...
Tags: Deals, Startups, China, Ipo, Cancer, Trends, Investing, Merck, Colorectal Cancer, Multiple Sclerosis, Harvard University, Health Insurance, Astrazeneca, Center For Medicare And Medicaid Services, Fda, National


The Life, Troubles, and Celgene Legacy of Deal Guru George Golumbeski

George Golumbeski is one of the most prolific dealmakers in the biopharmaceutical world. But the deal that changed his life is a pact he made with himself when he was ten years old.Playing with friends in front of his house in Hampton, VA, he watched his mother drag his dead-drunk father, a U.S. Air Force veteran who did a short stint in Vietnam, out of his car. Pretending to sleep in his bedroom, he’d often hear his parents screaming at each other.“I can’t end up like this,” he remembers think...
Tags: Deals, Ipo, Events, Trends, People, Depression, National, Novartis, Vietnam, Biotech, Illumina, New Enterprise Associates, Life Sciences, University Of Wisconsin, Genentech, UCB


Bio Roundup: Pharma in DC, Bristol-Cel in Trouble, Roche Gets A Spark

Could a shareholder revolt doom the planned marriage of Bristol-Myers Squibb and Celgene? Analysts have hinted at the possibility since the two companies shook hands in January, but the threat became real this week.Bristol (NYSE: BMY) and Celgene (NASDAQ: CELG) have campaignned heavily, starting with a joint presentation by their CEOs at the J.P. Morgan Healthcare Conference in January. Celgene drugs that should come to market the next two years will unlock $15 billion in annual revenue. The co...
Tags: Deals, Startups, Ge, Trends, Merck, Vc, Astrazeneca, Fda, National, Bristol, Novartis, Pfizer, Life Sciences, Clinical Trials, Celgene, Amgen


Blackstone, Novartis Start Up Anthos With $250M and a Heart Drug

Blackstone Life Sciences, the biopharma investing arm of private equity firm Blackstone Group, has made its first strike. It has joined with Novartis (NYSE: NVS) to start a new biotech, Anthos Therapeutics, backed with $250 million in cash and rights to an experimental drug originally discovered by the Swiss firm.The Cambridge, MA, startup, Anthos Therapeutics, will use the investment to advance MAA868, a Novartis antibody drug that is meant to treat blood clots by targeting two clotting protei...
Tags: Deals, Startups, Boston, Trends, Vc, Novartis, Biotech, Life Sciences, Blackstone Group, Cambridge MA, National blog main, New York blog main, New York top stories, Boston blog main, National top stories, San Francisco blog main


Oyster Point Gets $93M To Clear Up Dry Eye With a Nasal Spray

Dry eye disease affects millions of people in the U.S., and while several treatments, mostly eye drops, are available, they all have flaws. An emerging startup called Oyster Point Pharmaceuticals is trying a completely different approach—a nasal spray that coaxes the body into making tears. And the company just got enough cash to get that treatment to market, if its final clinical tests are a success.Oyster Point, a Princeton, NJ startup led by former Ophthotech (NASDAQ: OPHT) executive Jeffrey...
Tags: Deals, Startups, New York, Trends, Vc, Allergan, Shire, New Enterprise Associates, Life Sciences, Ophthotech, Princeton NJ, Versant Ventures, National blog main, New York blog main, New York top stories, Seattle blog main


Roche Bets $4.8B on Spark Therapeutics and the Future of Gene Therapy

Roche has agreed to buy Spark Therapeutics for $4.8 billion, the latest strong signal that major pharmaceutical companies are ready to gamble on the promise of gene therapy despite its uncertain commercial prospects.The Swiss pharma giant will pay $114.50 per share, in cash, for Spark (NASDAQ: ONCE), a 122 percent premium to the gene therapy developer’s $51.56 per share closing price on Friday. Both boards have approved the deal, which should close in the second quarter.The acquisition is the l...
Tags: Deals, Trends, Fda, National, Life Sciences, Clinical Trials, Roche, Gene Therapy, UniQure, National blog main, Boston blog main, National top stories, San Francisco blog main, San Francisco top stories, Boston top stories, Spark Therapeutics


Bio Roundup: NASH News, Merck Strikes, Digital Tokens & More

The growing epidemic of the fatty liver disease known as NASH, which has no FDA-approved treatment, has led to a frenzied race among drug companies. This week, one company, Intercept Pharmaceuticals, solidified its lead. But how much will being first to the finish line mean when all is said and done?Intercept (NASDAQ: ICPT) reported interim data from a Phase 3 study showing its drug, obeticholic acid (OCA), reduced liver scarring in NASH patients. The results should be enough to support an appr...
Tags: Deals, Startups, Drugs, Cancer, Trends, Investing, Merck, Leukemia, Acne, Inflammatory Bowel Disease, Xerox, Astrazeneca, Fda, National, Pfizer, Abbvie


Passage Bio Gets $116M As Wilson, Yamada Team Up On Gene Therapy Again

Longtime biopharmaceutical executive Tachi Yamada helped keep the work of gene therapy pioneer James Wilson alive 20 years ago when Wilson was mired in controversy and the emerging field was in its darkest days.Now that gene therapy has come of age, in part because of Wilson’s work, the two are teaming up again. They’ve co-founded a startup, Passage Bio, which aims to use the technology to treat a slew of rare brain diseases.Passage, which has a broad alliance with Wilson’s gene therapy center ...
Tags: Deals, Startups, Trends, Vc, Philadelphia, Fda, National, University of Pennsylvania, GlaxoSmithKline, Parkinson's Disease, James Wilson, Life Sciences, Wilson, Clinical Trials, New Leaf Venture Partners, Takeda


Johnson & Johnson to Buy Robotics Startup Auris Health for $3.4B

[Updated 2:07 p.m. See below.] Johnson & Johnson is acquiring medical robotics developer Auris Health for $3.4 billion in cash, a deal that builds on the company’s stated plans to become a player in “digital surgery.”Privately held Auris has commercialized a robotic system cleared by the FDA to assist surgeons in diagnosing and treating lung conditions. According to the agreement announced Wednesday, the Redwood City, CA-based medical device startup could gain up to $2.35 billion in additional ...
Tags: Google, Deals, New York, Trends, Lung Cancer, Fda, Johnson, Biotech, Life Sciences, Medical Devices, Johnson & Johnson, Alex Gorsky, Redwood City CA, National blog main, New York blog main, New York top stories


Why Did Amazon Buy Eero? Wi-Fi Users Covet Simplicity, Security

Being able to call on Alexa, the voice of Amazon’s Echo virtual assistants, to play a song or read a weather forecast requires a working Internet connection, of course. Amazon has now opened new avenues to put its own stamp on Wi-Fi routers and other home networking equipment, following the company’s purchase of San Francisco-based Eero, which Amazon announced Monday.Amazon did not say how much it’s paying to acquire Eero, which sells standalone Wi-Fi routers, as well as multi-packs designed to...
Tags: Amazon, Deals, Startups, Internet Of Things, Internet, Wi-fi, San Francisco, Trends, Tech, Broadband, Netflix, Routers, Iot, Smart Home, Seattle, Connected Home


AbbVie Joins Myeloma Race with $90M Deal for Rights to Teneobio Drug

AbbVie is paying $90 million up front for rights to a multiple myeloma drug from Teneobio that’s now being prepared for tests in humans.The Teneobio drug, TNB383B, is the first to come out of the labs of the Menlo Park, CA, biotech. Under the deal, AbbVie has the right to develop the drug after it completes Phase 1 testing. AbbVie would pay milestones pegged to the progress of the drug, plus royalties if it reaches the market. Additional details of those payments weren’t disclosed.Teneobio alre...
Tags: Deals, Startups, Drugs, Cancer, San Francisco, Trends, Investing, GlaxoSmithKline, Abbvie, Biotech, Life Sciences, Clinical Trials, Celgene, Amgen, American Cancer Society, Janssen


NYCEDC Finally Puts Its NY Bio Fund to Work With $60M For HiberCell

It’s been a question posed for years by many around the New York biotech scene: What is going on with the New York City Economic Development Corp.’s $150 million biotech fund, which was formed in 2013 but hadn’t made an investment?Finally, today, there’s an answer. A small piece of the money from the NYCEDC’s NYC Life Sciences Fund is going to an ambitious new startup called HiberCell, which is focused on routing out the small numbers of dormant tumor cells that lurk in patients in remission an...
Tags: Deals, Startups, New York, Trends, Vc, GE Ventures, Life Sciences, Celgene, ARCH Venture Partners, Eli Lilly, National blog main, New York blog main, New York top stories, Boston blog main, National top stories, San Francisco blog main


Alector IPO Banks $176M to Test Alzheimer’s Drugs in Clinical Trials

Alector, a company taking an immunotherapy approach to Alzheimer’s disease and other brain disorders, has raised approximately $176 million in an initial public offering.The South San Francisco, CA, biotech sold 9.25 million shares Wednesday evening priced at $19 apiece, which was the midpoint of its targeted $18 to $20 per share range. Those shares are expected to begin trading on the Nasdaq Thursday under the stock symbol “ALEC.”Unlike the long line of failed Alzheimer’s disease drugs develop...
Tags: Deals, Drugs, Ipo, San Francisco, Trends, Investing, Alzheimer's Disease, SEC, ALEC, Fda, Parkinson's Disease, Abbvie, Biotech, Life Sciences, Clinical Trials, South San Francisco


Maxwell, Struggling Battery-Technology Maker, to Sell to Tesla

Battery-technology business Maxwell Technologies has agreed to be acquired by Silicon Valley electric car company Tesla (NASDAQ: TSLA) in an all-stock deal valued at about $218 million, the San Diego-based company announced Monday.Maxwell (NASDAQ: MXWL) said Palo Alto, CA-based Tesla would buy its shares at $4.75 apiece, a 55 percent premium over its stock price as of market close Feb. 1.Maxwell, which makes energy-storage electronics called ultracapacitors that some automakers use alongside ba...
Tags: Deals, Trends, Tech, Tesla, Automotive, Electric Vehicles, San Diego, M&a, Maxwell, TSLA, Silicon Valley, Energy Storage, Merger, Electric Cars, Acquisition, Hybrid Cars


Bio Roundup: Alzheimer’s Fail, Drug Price Plan, Gene Therapies & More

Pharmaceutical companies typically raise prescription drug prices at the start of each year and this year was no different. The increases were the latest reminder that, despite President Trump’s fiery campaign rhetoric, the administration had done little to actually lower drug prices. But a new plan aimed at the secretive rebate deals between pharma companies and pharmacy benefit managers could change things.Insurers, or their intermediaries, negotiate with pharma companies for pricing discount...
Tags: Deals, Startups, Ipo, Cancer, Trends, Investing, Alzheimer's Disease, Chuck Grassley, Medicare, SEC, National, Novartis, Pfizer, Parkinson's Disease, Biotech, Vaccines


Equidate, Re-Named Forge Global, Boosts Series B to $85M

Equidate, one of the trading platforms that help employees sell their shares in pre-IPO unicorn companies, rolled out a new name today and announced a $35 million expansion of its $50 million funding round publicized in July.Re-branded as Forge Global, the five-year-old company plans to continue broadening the services it developed as many venture capital-backed companies—“unicorns” already supposedly worth billions of dollars, at least on paper—delayed going public, even while some of their st...
Tags: Deals, Startups, Lyft, Uber, Spotify, Spacex, Pinterest, Entrepreneurship, Ipo, Funding, San Francisco, Trends, Tech, Snapchat, Vc, Dropbox


BridgeBio Pharma Hauls in $299M for Genetic Disease Drugs R&D

Biotech startup creator BridgeBio Pharma has raised $299.2 million to support its work developing new drugs to treat rare, genetic diseases.Palo Alto, CA-based BridgeBio searches for promising drug research at universities, academic medical centers, and drug companies. After acquiring rights to a compound, BridgeBio forms a subsidiary company to develop it.Operating under a “hub and spoke” corporate structure, these subsidiaries develop their respective drug candidates while sharing resources o...
Tags: Deals, Startups, Drugs, Ipo, San Francisco, Trends, Investing, Aig, Private Equity, Biotech, Sequoia Capital, KKR, Viking Global, Life Sciences, Clinical Trials, Palo Alto Ca


Educational Play Kit Company Osmo Sold to India’s Edtech Firm Byju’s for $120M

Byju’s, an edtech company based in India that claims a $3.6 billion valuation based on its sales success there, announced it has acquired Palo Alto, CA-based learning-through-play firm Osmo for $120 million.Named after the teacher Byju Raveendran, who founded the company in 2011, Byju’s is making its first acquisition in the United States to advance its goals of expanding globally and adding very young children to its user base. The company, which announced the deal Wednesday, had already made ...
Tags: Google, Deals, Startups, Mobile, Hardware, Education, Internet, Entrepreneurship, India, Funding, San Francisco, Trends, Tech, Web, It, Vc



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