The Long Game In Life Sciences: $181B Fund Baillie Gifford Invests Big In Private Companies

The Long Game In Life Sciences: $181B Fund Baillie Gifford Invests Big In Private Companies

Traditional life sciences investors have made lots and lots of money from recent multibillion-dollar exits like Receptos, Alios and Acerta. But lately I’ve noticed a different life sciences investing strategy, one closer to the way social/mobile/software investors invest. By paying higher entry prices for later mega-rounds in ambitious life sciences companies, including both therapeutics and non-therapeutics companies, these deep-pocketed investors hope to reproduce their earlier successes investing in the likes of Amazon and Tesla. Their capital, which comes without the usual board seats and tight monitoring, is deeply welcome, because it allows these companies (similar to consumer companies like Airbnb and Uber) to stay under the radar much longer than...

Kayon Teams with Cecil Chambers to Create New Music Entity

Kayon Teams with Cecil Chambers to Create New Music Entity

Kayon Partners is pleased to announce the formation of a new music publishing business with music publishing veteran Cecil Chambers. The entertainment partnership is structured on a multi-year financing model to leverage long-term trends and relationships. Chambers will steer the newly formed Earshot Music Publishing, and has set up offices in Beverly Hills and New York City.  Chambers has overseen songwriting for such artists as Destiny's Child, Ginuwine, Usher...

Intarcia and Calibr Partner for Combined Product to Fight Diabetes and Obesity

Intarcia and Calibr Partner for Combined Product to Fight Diabetes and Obesity

Intarcia Therapeutics, Inc. and the California Institute for Biomedical Research (Calibr) today announced a strategic research collaboration focused on the development of a novel peptide therapeutic leveraging Calibr’s Stapled-Peptide Platform Technology. Intarcia plans to develop and administer this novel therapy in combination with Exenatide (a GLP-1 receptor agonist and active agent in Intarcia’s ITCA 650 product), by leveraging its proprietary Medici Drug Delivery System™. Under the terms of the agreement, Calibr will...

Delaware's 2017 Resolution: Symbioint to Make Blockchain a Reality

If 2016 marked the year that Delaware became the first US state to implement block-chain technology, 2017 will mark another first. This year, we expect companies will be able to file documents on our distributed ledger, in addition to current filing procedures. But while we're just one state in one country, this move is no small feat – a large majority of the "foundational" documents of finance including incorporation documents (that form the foundation of securities markets) and UCC filings (that form the foundation of secured lending) – are filed here. Delaware is home to more than 66% of Fortune 500 companies and 85% of initial public offerings...

Gates Foundation Backs Intarcia Therapeutics’ HIV Drug Pump

Gates Foundation Backs Intarcia Therapeutics’ HIV Drug Pump

The Bill & Melinda Gates Foundation is investing as much as $140 million to support development of a tiny implantable drug pump it believes could help prevent people in sub-Saharan Africa and elsewhere from becoming infected with HIV, the virus that causes AIDS. The matchstick-size pump is being developed by Intarcia Therapeutics Inc., a closely held Boston biotechnology company. It can hold six or 12 months’ supply of medicine and is designed to deliver microdoses continuously to patients, ensuring they stay on the treatment. The new investment, which Intarcia announced Thursday, comes amid a flurry of...

Intarcia Secures 2nd Major Equity Close and Partners with Gates Foundation

Intarcia Therapeutics, Inc., today announced it has completed its second major close of the Series EE equity financing, and also entered into a relationship with the Bill & Melinda Gates Foundation to help prevent the spread of HIV in Sub-Saharan Africa and other countries where the HIV epidemic is most severe. “Thanks to tremendous financing progress, an even stronger shareholder base, our recent NDA submission in type 2 diabetes, and now a groundbreaking relationship with the Bill & Melinda Gates Foundation, Intarcia is poised to open up a totally new category of important once- or twice-yearly treatment and prevention therapies for some of the world’s most serious chronic diseases − including those that disproportionately affect people with some of the greatest unmet needs,” said Kurt Graves, Chairman, President and CEO of Intarcia Therapeutics, Inc...

Citizens Bank Next To Take The Leap With Alt-Lender Fundation

Traditional banks are beginning to embrace their alternative lending competitors as a way to reach more borrowers and get a jumpstart on the technology and digitization behind the lending industry. The latest bank to take part is Citizens Bank, which announced Tuesday (Dec. 20) a partnership with Fundation Group. Fundation has emerged with a reputation to collaborate with banks, not work against them, by offering up its credit solutions and lending technologies to traditional FIs. For Citizens, this means small businesses can apply for...

Kayon Accelerator Comes to Amherst, Mass.

Kayon Partners, in partnership with AmherstWorks, have launched The Kayon Accelerator located in downtown Amherst, Massachusetts.  The new entity will act as a nexus for new businesses and entrepreneurs, combining a range of in-kind services, hands-on help and a co-working location with an expert team focused on positively impacting the trajectory of early-stage businesses. Steve Garrow, Amherst College graduate and Managing Partner of Kayon Partners, added, “The support of the local community has enabled us to...

Intarcia Submits New Drug Application (NDA) to FDA for ITCA 650 in Type 2 Diabetes

Intarcia Therapeutics, Inc. announced it has submitted its New Drug Application (NDA) to the U.S. Food and Drug Administration (FDA) for ITCA 650 for the treatment of type 2 diabetes (T2D). The NDA submission was made in close proximity to World Diabetes Day, and during National Diabetes month in America – two annual events that remind us that type 2 diabetes is one of the largest and fastest-growing public health crises in the world. If approved, ITCA 650 would become the first and only injection-free glucagon-like peptide-1 (GLP-1) receptor agonist therapy. ITCA 650 provides consistent and continuous subcutaneous delivery of exenatide via an osmotic mini-pump placed just under the skin in a simple in office procedure that only takes a healthcare provider a few minutes to perform. ITCA 650 mini-pumps were given with

A New Innovation for Type 2 Diabetes

Indeed, for all the excitement over paradigm-shifting technologies in healthcare and medicine—gene-editing through CRISPR, virtual reality surgical training—it seems we are seeing more and more examples of people solving age-old problems through a stroke of ingenuity. With the proverbial popsicle stick and chewing gum, that is. And sometimes, the two are combined: a bold new technology is coupled with a strikingly simple, intuitive innovation. That has been my initial impression of a new drug-delivery system, called the Medici, which is made by Intarcia Therapeutics. The Medici is...

Delaware Judge Pushes for Blockchain Voting

A Delaware judge has advocated for using blockchain-based voting to put more power in the hands of corporate shareholders. Delaware Chancery Court Vice Chancellor J Travis Laster spoke late last month during a meeting of the Council of Institutional Investors, a non-profit organization dedicated to institutional investment issues. In his speech, Laster took aim at the business ecosystem for proxy voting – services that enable shareholders to cast votes on corporate decisions – arguing that “the current system works poorly and harms stockholders”. But Laster's remarks didn’t come out of nowhere. Earlier this year, the government of Delaware launched an initiative to use the technology as a means to streamline the business registration process in the state. The state government is working with New York-based startup Symbiont on the project...

InkHunter’s AR tattoo app exits beta on Android as startup looks to wider, B2B play

The startup behind a fun, augmented reality tattoo app called InkHunter, covered by TC back in April, is launching its Android app out of beta today — after racking up some 2.5 million downloads on iOS. They’ve been beta testing on Android, as they worked to ensure their AR tech could handle a range of hardware and slower Android devices, but are launching officially now. Their app idea started life as a project cooked up during a 48-hour hackathon back in mid-2014, but the startup is now looking to move beyond being just an app for virtually trying tattoos...

Delaware’s bet on blockchain

First up, the Delaware initiatives will work on using blockchain technology to store contracts and other essential corporate data on a distributed ledger, which will allow companies and agencies to store their documents in more than one location, keep them more secure and automate access by constituents, shareholders and employees. Other benefits include lower costs and longer documents retention, according to Caitlin Long, chairman and president for Symbiont, a technology provider working with the state on “smart contracts. Typically, when documents are stored manually, the document is destroyed once the mandatory retention period passes,” Long said. “This will solve a big problem…

Intarcia Completes Major Equity Financing

Intarcia Therapeutics, Inc., today announced the first closing of a major equity financing that puts the company in a strong strategic and financial position over the next 2-3 years as it prepares for the potential approval and launch of ITCA 650 late next year, and the parallel progression of several novel pipeline programs in major chronic diseases like diabetes, obesity and auto-immune/inflammation. The first close of $215M financing includes subscriptions from new world-class institutional investors, family offices, and our first large and long-term oriented VC/PE fund located in

Regions Bank, Fundation and TruFund Work Together to Provide Loans to Underserved Small Businesses

Regions Bank, together with Fundation Group LLC, a digitally-enabled small business lender, and TruFund, a Community Development Financial Institution (CDFI), today jointly announced a first-of-its-kind agreement to provide small dollar loans to underserved small businesses. Through this unique and collaborative agreement among a regional bank, a digitally-enabled lender and a CDFI, underserved small businesses that may not be eligible for traditional bank loans will...

Is The Future Of Alt-Lending Playing Well With Others?

Until very recently, online banking was widely believed to be an unstoppable bank slayer. As recently as a year ago, alt lending CEOs were commonly touting as inevitable the ascension of online lenders over big and inefficient banks in regards to consumers and SMB lending. These days the claims have gotten a bit less lofty, and victory focused — with a lot more founding CEOs sounding a bit like Fundation’s founder Sam Graziano, and touting their ability to cooperate rather than crush.

Goldman Inks $100 Million Credit Facility For Online Lender Fundation

Aug. 23, 2016 9:29 a.m. ET - Wall Street Journal -- Another lending upstart has declared that joining banks—rather than beating them—is the way to go. Fundation Group LLC, which makes online business loans, this week completed a $100 million credit facility with Goldman Sachs Group Inc., according to the lender’s chief executive. The new credit line will help the firm expand its recent partnerships, including those with traditional banks...

Kayon Teams with UMASS Food Science Group to Develop New Technologies

AMHERST, Mass., July 18, 2016 /PRNewswire/ -- Investment group and business development firm Kayon Partners is forming a new company in conjunction with UMASS to commercialize a unique food technology developed in the laboratory of Prof. D. Julian McClements based in UMASS Amherst, MA.  The new company, which will be led by Kayon Partners principals Stephen Garrow and David Vogel, will work with Dr. McClements, the UMASS Tech Transfer Team and with established companies and thought leaders in the food and drug industries, to...

LeoGroup Teams with Kayon Partners to Manage and Grow Private Equity Fund

ISELIN, N.J., May 12, 2016 /PRNewswire/ -- Kayon Partners, founded by Stephen Garrow, David Vogel and Timothy Mitrovich, has partnered with LeoGroup as sub-advisor to the LeoGroup Private Investment Access, LLC ("PIA") bringing a broad range of investment management and managerial skills to LeoGroup. The arrival of Kayon Partners coincides with LeoGroup's expansion of its capabilities to service ultra-affluent individuals within LeoGroup's Multi-Family Office (MFO) platform.  Their focus will be on private investments...

Delaware Considers Using Blockchain Technology

Delaware, the state that incorporates the most public companies, is exploring the use of blockchain technology to move more of its paperwork to cheaper systems. The effort, while still in its early stages, could change some of the most basic back-office functions for private and public companies alike. Delaware Gov. Jack Markell is scheduled to discuss details of the Delaware Blockchain Initiative at an industry conference in New York on Monday. “This is something we’re very interested in,” Gov. Markell said in an interview. “We think the benefits could really be tremendous.” Blockchain is best known...