Kleiner Perkins to back early-stage biotechs with $525M fund

Posted under Auxogyn, Beth Seidenberg, Biotech Venture Capital, Blog, Celladon, Companies, Diagnostics, Epizyme, Foundation Medicine, Funding, iPierian, Kleiner Perkins Caufield & Byers, Medical Devices, Medical Supply, Pharmaceuticals, Pipeline, Startups, Tesaro, Universities, Videos by John Carroll

Beth Seidenberg, Investment Partner--Source: KPCB

Kleiner Perkins Caulfield & Byers has closed the books on a new $525 million fund. And a chunk of that treasure is earmarked for early-stage life science companies promising to satisfy Kleiner Perkins' trademark appetite for disruptive new technologies.

"Portfolio companies in KPCB 15 will benefit from the firm's holistic approach to company building that we pioneered more than a decade ago," said Ted Schlein, partner at KPCB, in a statement. "We will identify promising early-stage companies in our areas of focus and bring value-added resources in key areas to help early-stage companies grow and succeed. This includes applying our considerable industry, operational and financial expertise and network of relationships to help entrepreneurs build lasting enterprises."

Among the group of partners with a key to the cash box is Beth Seidenberg, the former chief medical officer at Amgen ($AMGN) who has been handling the fund's investments in Tesaro, Epizyme, iPierian and Auxogyn, among others. KPCB has also invested in Foundation Medicine and Celladon. 

Seidenberg's interest in biotech goes well beyond the boardroom. She's been one of the leading forces at the Medical Innovation and Competitiveness Coalition, which joined up with the National Venture Capital Association to apply pressure on the FDA to change. The lobbying effort has helped inspire new legislation aimed at speeding drug approvals while putting the FDA on the defensive about its regulatory track record.

"The major problem is the lack of predictability, which leads to delayed timelines," Seidenberg told The Wall Street Journal last fall. "Entrepreneurs are smart people, and they want to get their products to patients. And because of the lack of transparency, and the lack of consistency (at FDA), they are moving to Europe, setting up their organizations and creating jobs overseas." 

- here's the press release

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DNA sequencing exposes new uses for Pfizer targeted cancer drugs

Posted under Blog, Companies, Dana-Farber Cancer Institute, Diagnostics, Dna Sequencing, Foundation Medicine, Funding, Medical Devices, Medical Supply, personalized medicine, Pfizer, Pharmaceuticals, Startups, Sutent, Universities, Videos, Xalkori by Ryan McBride

As pharma companies expand their use of DNA sequencing for drug R&D, researchers have uncovered some potential new targets for existing cancer drugs that are likely to spur further use of sequencing in the biopharma world. And their study has shed light on potential new uses for at least two of drug giant Pfizer's ($PFE) targeted cancer drugs.

With a cancer gene test from life sciences startup Foundation Medicine, the researchers from Dana-Farber Cancer Institute and elsewhere found that 59% of lung and colorectal cancer samples tested included genetic abnormalities that could be combated with targeted cancer drugs. A subset of lung cancer samples showed that the patients had mutations that could be targeted with Pfizer's approved kidney cancer drug Sutent, and one patient's colorectal cancer was found to have gene abnormality targeted by Pfizer's Xalkori.

The previously unknown genetic flaw in lung cancer was seen in about 2% of patient samples, but Dana-Farber lung cancer specialist Dr. Pasi Janne says that is enough to warrant further study of the Sutent in certain lung cancer patients, he told Bloomberg. Pfizer is taking an interest in the findings too, which shouldn't come as a surprise. Drugmakers and regulators have shown a willingness to move forward with drugs for small pools of patients if the drugs can deliver major benefits for those patients. With genetic tests like Foundation's catching on among drug developers, there's sure to be other new targets unearthed to propel further development of personalized cancer medicines.

"It is moving closer and closer to real personalized medicine," Janne, a co-author of the study told Bloomberg. "It is fantastic as we can tailor our therapy to the particular genetics of a patient's cancer."

- here's the release
- check out Bloomberg's article

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