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$100M Round Turns San Diego’s Seismic into Region’s Newest Unicorn

Xconomy

The venture investment, which the San Diego startup announced Tuesday, is one of only a few so-called mega-rounds—$100 million or more—recorded this year in the region. (In Rowe Price Tech Uber unicorn VC Venture Capital Virtual InstrumentsSeismic, an enterprise software company with ambitious growth plans, has raised $100 million in a Series E financing and added Microsoft chairman John W. Thompson to its board of directors.

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

Xconomy

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. Insurers, or their intermediaries, negotiate with pharma companies for pricing discounts.

Despite Low Crop Prices, Corporate and VC Agtech Investments Soar

Xconomy

Prices for agricultural commodities such as corn, soy, and wheat are at their lowest levels in years, but investment in agricultural technology has never been better. Just 10 percent of corporate investments were made to build new technological capabilities, the report says.

Bio Roundup: Alzheimer’s Puzzle, ESMO Assessed, Drug Prices & More

Xconomy

In the biotech investment and research communities this week, much of the attention was turned to Europe. Munich, Germany, hosted the annual conference of the European Society for Medical Oncology, where cancer drug developers unveiled the latest clinical data for experimental immunotherapies and drugs that treat the disease based on a tumor’s genetic signature. Also this week, the Clinical Trials on Alzheimer’s Disease conference took place in Barcelona, Spain.

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

Xconomy

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.

Billie, Subscription Shaving Products Service for Women, Raises $25M

Xconomy

The New York-based startup said Tuesday that the new funding round, which is being led by Goldman Sachs Private Capital Investing group, brings its total investment to $35 million.

Price Check on Aisle 3: Retailers Turn to Robots to Manage Inventory

Xconomy

Bossa Nova, along with San Francisco-based Simbe Robotics, is among a group of tech companies that are using robotics and artificial intelligence. Inventory management is crucial to operating a successful retail operation.

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Bio Roundup: Eli Lilly Tries Tau, Generic Insulin, NASH Cash & More

Xconomy

Pharmaceutical industry critics lament the cost of rare disease drugs, but some of the steepest price hikes have come on widely used insulin. But the university also allowed them to patent the improvements they made, which enabled them to slap higher prices on each new version. to offer competitive pricing pressure. The patent holder, the University of Toronto, gave companies the right to manufacture insulin.

Bio Roundup: CRISPR Babies, Blood Diseases, Big Cancer Nod & More

Xconomy

This was one of those weeks when the world seemed to slip into a new era with no going back. A Chinese researcher, He Jiankui, claimed he helped bring to life two genetically engineered babies, twin girls with a gene disabled to make them immune to HIV infection.

At Allergan And Other Pharmas, Price Transparency Has Limits

Xconomy

The firm acknowledged price hikes on several drugs that stayed—sometimes barely—under the 10 percent limit that CEO Brent Saunders pledged last September, in what he called a “ social contract with patients.”

Bio IPO Madness: Six Biotech Startups Raise $568M in 24 Hours

Xconomy

The San Francisco company priced its IPO late Tuesday, selling 6.25 The window for biotech IPOs remains wide open and six more companies have charged through it, raising more than $568 million in the span of 24 hours.

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

Xconomy

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.

Bio Roundup: Ex-Kiters Say Allo, NASH Cash & Data, Alkermes No & More

Xconomy

Happy Friday, everyone. We’ll start this week with biotech deals, one featuring a couple of CAR-T heavyweights who have re-emerged after selling Kite Pharma for $12 billion. They will try to shepherd to market a different type of the promising cancer immunotherapy: allogeneic T cells that come from donors, not from a patient’s own blood. After the deals, we’ll move on to data.

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Bio Roundup: Hope for Lungs, Bradner’s Complaint, FDA Nods & More

Xconomy

The price of drugs is certainly on a lot of minds these days, including the mind of President Trump, as he reportedly will make a. The biggest news this week was in oncology, hands down. Merck showed that its immunotherapy pembrolizumab (Keytruda) might become a common option for many patients newly diagnosed with advanced lung cancer, but the bigger picture is that the field is moving fast.

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Akcea Slashes IPO Price Ahead of Filing for Rare Disease Drug

Xconomy

Akcea Therapeutics is joining the parade of biotechs going public, but the company had to cut its stock price and sell more shares in order to pull it off. But the biotech priced its offering of 15.6

Bio Roundup: Spark v. ICER, A Solid Revelation, T Cell Deals & More

Xconomy

The United States has a new Health and Human Services chief who is expected to weigh in on the country’s drug-pricing debate. Xconomy examined its owners’ justification for the price, and why a drug-value watchdog pushed back hard. Novartis NYCEDC opioid PDUFA Personal Data price Pricing Puma Biotechnology rejection Sanofi share Skyhawk Therapeutics Solid Biosciences Spark Therapeutics stake t-cell Tmunity Therapeutics University of Pennsylvania

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Request Your Invite for Our Napa Summit, June 14-15

Xconomy

We have special prices for those at startups and non-profit or government organizations—so ask us about those as. In two and a half weeks, Xconomy will host our seventh annual Napa Summit: The Xconomy Retreat on Technology, Jobs, and Growth.

Tocagen IPO Raises $85M to Test Gene Therapy in Brain Cancer Trials

Xconomy

San Diego-based Tocagen (NASDAQ: TOCA ) priced its offering of 8.5 million shares priced between $10 to $12 each. Tocagen raised $85 million in its stock market debut today, and underwriters saw enough demand to increase the number of shares in the initial public offering.

Anaplan Ups Estimate For Its IPO Haul; Allogene IPO Raises $288M

Xconomy

San Francisco-based Anaplan , one of five companies planning to close initial public offerings this week, raised the expected price range for its shares in an SEC filing Wednesday, signaling an IPO that could be richer than it had anticipated. If the shares price at $16—the midpoint of the new range—Anaplan.

For Women Only: E-Retail Subscription Firm Athena Club Raises $3.6M

Xconomy

Co-founder Maria Markina says her New York-based startup gives women the convenience of a subscription service but at lower prices compared to other similar services. “We’re

Bio Roundup: Kite’s CAR-T Approved, Obamacare Fix & Lilly mRNA Deal

Xconomy

Gilead Sciences (NASDAQ: GILD ), the Foster City, CA, company that acquired Kite , put a $373,000 price tag on the Kite therapy, Read more » Reprints | Share: UNDERWRITERS AND PARTNERS. Kite Pharma wasn’t expecting a regulatory decision for its non-Hodgkin lymphoma treatment until November, but this week, the company got the FDA’s O.K.

Bio Roundup: Trumpcare Flails, Spinraza Sales, Batten OK & More

Xconomy

To judge the first 100 days of a new administration is, as many pundits have pointed out, an odd vestige of history, more convenient than significant. Which is why we’ll start this week’s roundup with our 99-day evaluation of the Trump administration—at least when it comes to healthcare and the life sciences. In healthcare, nothing the administration has done is starker than its failure so far to repeal and replace the Affordable Care Act, a.k.a.

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Bio Roundup: Duchenne Data, Roche Buys Foundation, IPO Wave & More

Xconomy

Others that pushed their IPOs through couldn’t sell shares at the price they wanted. A total of 93 IPOs have priced as of Thursday, up 36.8 Seven biotech IPOs priced just this week. Biotech financing is a cyclical thing. Two years ago, the IPO window was unlatched but a number of companies ended up withdrawing their stock offerings. This year, the IPO window is wide open. percent compared to the same time last year, according to Renaissance Capital.

Bio Roundup: Senate Drama, A.I. Stories, Data Dives, Shkreli & More

Xconomy

There is no Obamacare replacement, at least not as of this writing. The Senate Republicans are fractured, with a handful of conservatives and moderates each giving a cold shoulder to their chamber’s version of healthcare reform, the Better Care Reconciliation Act.

Convoy Reloads With $185M For Its Freight Shipment Marketplace

Xconomy

Convoy , an online marketplace that connects shippers with freight truck fleets and independent drivers, announced today it raised $185 million in a Series C fundraising round led by CapitalG, the growth equity investment fund of Alphabet, Google’s parent company. Rowe Price Associates Transfix Trucker Path Uber Freight Unilever VC Venture Capital warehouses Web wireless Y Combinator

Audentes Prices $75M IPO As Gene Therapy Eyes First U.S. Approval

Xconomy

Today, it’s San Francisco’s Audentes Therapeutics, which aims to use gene therapy to treat a group of rare diseases. As the possibility of the first ever gene therapy approval in the U.S. draws closer, more gene therapy players are entering the public markets.

President Trump Prohibits Broadcom from Acquiring Qualcomm

Xconomy

The two companies had yet to even agree on a price in what was widely reported to represent the biggest tech deal in history. Read more » Reprints | Share: National blog main National top stories San Diego San Diego blog main San Diego top stories San Francisco blog main Broadcom buyouts chipmakers Committee on Foreign Investment in the U.S.

Cybersecurity Startup MedCrypt Gets $750K to Defend Health Devices

Xconomy

MedCrypt, a healthtech cybersecurity startup founded near San Diego, has raised $750,000 in a seed financing round led by Safeguard Scientifics (NYSE: SFE ), a private equity fund in suburban Philadelphia that invests in healthcare, fintech, and digital media. Jude’s stock price.

Bio Roundup: Graham-Cassidy, Axovant Fail, SpringWorks Launches & More

Xconomy

After drug pricing, count drug shortages among the hot button issues sparking patient ire. Last year, the FDA says, 23 drug shortages were reported , down from 26 the previous year (and 251 in 2011). But Hurricane Maria’s direct strike on Puerto Rico might put the progress made on reducing shortages to the test.

Bio Roundup: $1B Deals, Data Bumps, Acorda’s Lumps, Generic OKs & More

Xconomy

The FDA reported that generic drug approvals are set to hit a record ; the agency under Commissioner Scott Gottlieb has moved this summer to increase generic competition and lower the nation’s high drug prices. Meanwhile, drug-price hawks can sharpen their talons on a report this week from The New York Times and ProPublica.

Private Equity Investors Have $740 Billion to Spend, Driving Valuations

Xconomy

Private equity investors have more capital at their disposal than at any time in more than a decade, which could boost prices for companies seeking acquisitions. As of Aug. 1, private equity firms in North America and Europe had secured $212.6 billion in new commitments this year, on pace to eclipse the “already stellar” fundraising year they had in 2016, according to a new report and analysis out Thursday from Seattle-based PitchBook.

With $1.6B Armo Buy, Eli Lilly Is the Latest to Bet Big on Cytokines

Xconomy

This morning, Lilly (NYSE: LLY ) agreed to pay $50 per share, which is a nearly 68 percent premium to Armo’s closing price Wednesday. Eli Lilly is making a splash in the fast-moving, highly competitive field of cancer immunotherapy. With a $1.6

As Drone Navigation Advances, SlantRange Focuses on Farm Analytics

Xconomy

For example, at Xconomy’s Robo Madness forum in San Jose, CA, last month, three companies each presented a different approach to intelligent navigation: — PreNav , founded in San Carlos, CA, in 2013, has developed a separate, ground-based system that uses a pulsed laser (formally known as Light Detection and Ranging, or LIDAR) to precisely determine the flight path for a quadcopter. We sell the hardware at a fixed price, with recurring revenue on the analytics.”.

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Bio Roundup: Trump Budget, FDA Chief, CAR-T Qs, CRISPR Cash, & More

Xconomy

US investments in health & development have created healthier, more stable societies at home & abroad. If it wasn’t clear that the Trump administration disdained most types of scientific inquiry and practice, the White House’s proposed budget drove the point home. The top-line figures: a nearly 20 percent cut in the National Institutes of Health, and a 30 percent cut in the Environmental Protection Agency.

Bio Roundup: Mylan Grilled, Duchenne Kids Thrilled, Zuck-Chan & More

Xconomy

Another biopharma executive went before Congress to explain drug price hikes. Sarepta said it expects to launch eterlipsen at an average annual price of $300,000 per patient, a figure not likely to be challenged by insurers. The first concrete step is $600 million to establish a “biohub” in San Francisco that will bring together researchers from Stanford University, and the University of California campuses in San Francisco and Berkeley.