Two Biotechs and One Medtech Make Deloitte’s Top 10 of the 2018 Fast 500 List
Jonathan Weiss / Shutterstock.com
Two pharmaceutical companies and a medtech maker snagged three of the top-10 spots on Deloitte’s 2018 North America Technology Fast 500, a ranking of the fastest-growing North American companies in the fields of technology, life sciences, telecommunications, media and energy.
The companies highlighted on the list were tapped because of their ability to combine technological innovation, entrepreneurship and rapid growth. The companies that made the list were selected based on percentage fiscal year revenue growth from 2014 to 2017, Deloitte said. Companies that made the list achieved revenue growth ranging from 143 percent to 77,260 percent over the three-year time frame, with a median growth rate of 412 percent.
Arrowhead Pharmaceuticals – Coming in a number five on the Deloitte list is Pasadena, Calif.-based Arrowhead, a company developing targeted RNAi therapeutics. Between 2014 and 2017, Arrowhead saw a growth rate of 17,847 percent, according to Deloitte’s statistics. Arrowhead’s treatment platform is based on RNA interference, (RNAi), a mechanism present in living cells that inhibits the expression of a specific gene, which affects the production of a specific protein. Under the company’s TRIM platform, Arrowhead is advancing two candidates, ARO-AAT and ARO-HBV. At an R&D day in October, Arrowhead Chief Executive Officer Chris Anzalone said the company anticipates filing two to three Clinical Trial Authorizations every year. Additionally, with the TRIM platform, the company will target a new cell type every 18 months. By the end of 2020, the company expects to have 10 TRIM-enabled candidates in clinical studies, Anzalone said. Shares of Arrowhead closed at $12.98 on Thursday, up nearly 8 percent. This morning, the stock price is up slightly above $13 per share in premarket trading.
Viveve Medical, Inc. – At number six on Deloitte’s list is Colorado-based Viveve Medical, a medical technology company focused on women's health and wellness. Until last year, the company had been based in California’s Bay Area, however, it relocated its headquarters to Denver, for which it received more than $2 million in tax credits. For the four-year period of 2013 to 2017, Viveve saw growth of 16,887 percent, according to Deloitte’s numbers. Shares of Viveve closed up more than 2 percent on Thursday to $2.15.
EXACT Sciences Corporation – Coming in at number eight on the list is Marlborough, Mass.-based Exact Sciences Corp, a molecular diagnostics company focused on the early detection and prevention of the various forms of cancer. Deloitte said Exact Sciences saw growth of 14,694 percent for the three-year period. Over the past several months, Exact Sciences has made a number of key moves that are likely to keep the company’s growth in positive numbers. In October, Exact Sciences acquired San Diego-based Biomatrica, a leading developer of sample preservation technology to support ongoing and future development of the company’s own blood-based cancer detection tests. In August, the company entered into a three-year agreement with Pfizer to co-promote Cologuard, the first non-invasive stool DNA screening test for colorectal cancer that was approved by the U.S. Food and Drug Administration.
The only other biotech company to make Deloitte’s top 20 was New York-based Intercept Pharmaceuticals, which saw 7,418 percent growth over the time period. Intercept came in at number 16 on the list. The whole list can be found here.