BioHealth Innovation Weekly for October 15, 2024

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October 15, 2024

MilliporeSigma Opens New €290 Million Biosafety Testing Facility in Rockville, Maryland, USA

BURLINGTON, Mass., October 09, 2024--(BUSINESS WIRE)--MilliporeSigma, the U.S. and Canada Life Science business of Merck KGaA, Darmstadt, Germany, has opened its new €290 million biosafety testing facility in Rockville, Maryland, USA. Biosafety testing and analytical development are fundamental components of drug development and commercialization for traditional and novel modalities. Global demand for these services is growing at a double-digit rate¹.

SK bioscience Acquires Stake in U.S. Biotech Fina Biosolutions

(SEONGNAM, S. Korea, October 8, 2024) SK bioscience, a global innovative vaccine and biotech company committed to promoting human health from prevention to cure, announced today that the company has signed an agreement to acquire a stake in Fina Biosolutions (FinaBio), a promising R&D biotechnology company based in Rockville, Maryland, United States, by investing USD 3 million. With this acquisition, SK bioscience will become FinaBio’s first and sole strategic investor.

AMPEL BioSolutions: Precision Medicine Blood Testing Predicts Heart Disease and Therapeutic Intervention

CHARLOTTESVILLE, Va., October 8, 2024 -- AMPEL BioSolutions announced a precision medicine blood test that could save lives by predicting heart disease before it happens and providing decision support for prophylactic therapies. Inflammatory and immune system abnormalities identified in the blood of individuals predisposed to heart disease by AMPEL two years ago were confirmed and extended in the peer-reviewed Cell iScience paper announced today. Examination of genes expressed in single cells isolated from atherosclerotic coronary artery plaques revealed biomarkers that can be measured by AMPEL's CardioGENE^®blood test.

Children’s National again ranked among the best in the nation by U.S. News & World Report

Children’s National Hospital in Washington, D.C., was ranked as a top hospital in the nation by the U.S. News & World Report 2024-25 Best Children’s Hospitals annual rankings. This marks the eighth straight year Children’s National has made the Honor Roll list. The Honor Roll is a distinction awarded to only 10 children’s hospitals nationwide.

This year, U.S. News ended ordinal rankings on its Honor Roll. Instead of assigning a numerical rank from 1 to 10, all hospitals on the Honor Roll will be recognized as having attained the highest standards of care in the nation.

TEDCO Invests $100K in Mental Health Care Support Company PerSoN

COLUMBIA, Md., (October 10, 2024) — TEDCO, Maryland’s economic engine for technology companies, announced a recent $100,000 Pre-Seed Builder Fund investment in PerSoN, a company creating digital health solutions to support complex mental health conditions. Businesses receiving an investment from TEDCO’s Pre-Seed Builder Fund, housed under TEDCO’s Social Impact Funds, receive access to a variety of benefits designed to nurture business growth.

PQE Group Recognized Among 67 Business Excellence Awardees at Deloitte Private Italy's "Best Managed Companies"

Italy, October 10th, 2024 – For the fourth consecutive year, PQE Group is among the winners in the 7th edition of the Best Managed Companies Award, which recognizes entrepreneurial excellence in Made in Italy. This award is promoted by Deloitte Private in collaboration with ELITE-Euronext Group, Piccola Industria Confindustria, and with the methodological and strategic support of ALTIS Graduate School of Sustainable Management at the Catholic University of the Sacred Heart.

Children’s National-led consortium collaborates with European consortium to accelerate innovation

WASHINGTON, Oct. 10, 2024 (GLOBE NEWSWIRE) -- To support the global need for innovation in pediatric medical device development, the Alliance for Pediatric Device Innovation (APDI), a consortium funded by the U.S. Food and Drug Administration (FDA) and led by Children’s National Hospital, is partnering with DeCODe, a new European Commission-funded device consortium, to advance medical technologies that benefit children. DeCODe was formed to catalyze innovation and address the unique healthcare needs of children with rare diseases.

Q3 2024 Life Sciences VC Macro Update (J.P. Morgan)

Olivia Schwern - Associate @ J.P. Morgan | Life Sciences Private Capital

Our take from Q3, in short:

Attracting new LP capital is still a feat. According to Carta, less than 10% of 2021 private funds have returned any capital to their LPs after three years, limiting allocators' ability to assess new opportunities.
Healthcare has been a consistent bright spot. Over 1-in-4 LP dollars deployed into VC in 2024 have gone into healthcare-focused funds – the highest share in over five years.
This dynamic has led to a revival in deal activity. If the current pace holds, private healthcare companies will raise ~$70 billion in 2024, an impressive >40% pickup from last year.
Valuations continued to find support. We still believe life sciences investors today are more likely to get into quality companies at attractive prices relative to recent years.
Finally, the healthcare exit market is staging a comeback. Q3 saw 97 VC-backed companies exit – 18 via IPO, 79 via M&A.