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GAITHERSBURG, Md., July 02, 2024 (GLOBE NEWSWIRE) — Cartesian Therapeutics, Inc. (NASDAQ: RNAC) (the “Company”), a clinical-stage biotechnology company pioneering mRNA cell therapy for autoimmune diseases, today announced that it has entered into a securities purchase agreement for a private investment in public equity (“PIPE”) financing that is expected to result in gross proceeds of approximately $130.0 million to the Company, before deducting placement agent fees and other offering expenses. The PIPE financing is expected to close on or about July 3, 2024, subject to satisfaction of customary closing conditions.

The PIPE financing included participation from both new and existing investors, including HBM Healthcare Investments (Cayman) Ltd., Invus, Schooner Capital, Surveyor Capital (a Citadel company), Timothy A. Springer, Ph.D., a leading mutual fund manager, and other institutional investors.

GAITHERSBURG, Md., July 02, 2024 (GLOBE NEWSWIRE) — Cartesian Therapeutics, Inc. (NASDAQ: RNAC) (“Cartesian” or the “Company”), a clinical-stage biotechnology company pioneering mRNA cell therapy for autoimmune diseases, today announced positive topline results from its Phase 2b trial of Descartes-08 in patients with generalized myasthenia gravis (MG).

Descartes-08, Cartesian’s lead product candidate, is an autologous mRNA-engineered chimeric antigen receptor T-cell therapy (mRNA CAR-T) directed against the B cell maturation antigen (BCMA). It is designed to be administered as an outpatient treatment without the need for lymphodepleting chemotherapy required to achieve activity with conventional CAR-T cell therapies. Descartes-08 was previously granted Regenerative Medicine Advanced Therapy (RMAT) Designation and Orphan Drug Designation by the U.S. Food and Drug Administration (FDA) for the treatment of MG.

Professor Ramzi Maalej, CTO and Founder of FluoInk, recently traveled from Tunisia to Maryland to attend the SelectUSA Investment Summit. FluoInk is currently working on its innovative Bacti Cleaner technology, which adds antibacterial properties to paints. It is making strides in the eco-friendly and non-toxic product space with the development of this product.

BioHealth Innovation Inc. (BHI) is collaborating with FluoInk, along with partners from The Tunisian Health Center for University Research Excellence and Sustainability (CURES) and FHI 360, to help grow their business. While in Maryland, Professor Maalej connected with key figures in the BioHealth Capital Region, including Brian Castleberry, Senior Regional Manager – Middle East, Africa, and UK at the Maryland Department of Commerce, and Brian Darmody, AURP Chief Strategy Officer.

“Visiting Maryland and participating in the SelectUSA Investment Summit was an incredible experience. The networking opportunities and the collaborative environment, facilitated by BHI and FHI 360, were beyond my expectations,” said Professor Ramzi Maalej, CTO and Founder of FluoInk. “This summit has opened new doors for transforming our academic research into impactful commercial products.”

Join us this September for the BioHealth Capital Region Week 2024, a gathering that epitomizes the spirit of innovation in the biopharma industry. Hosted once again at US Pharmacopeia in Rockville, MD, from September 17th, 18th, and 19th, 2024, this event is made possible by the generous support of our sponsors, ensuring it remains free for all attendees. This year, we are featuring three cornerstone events: the 10th Annual BioHealth Capital Region Forum, the 9th Annual Crab Trap Competition, and the 7th Annual Investment Conference. Each event is tailored to foster unique opportunities for networking, learning, and investment, drawing together industry leaders, innovators, and investors from across the nation. We extend our heartfelt thanks to US Pharmacopeia for hosting us and to our sponsors whose contributions are vital in making these gatherings accessible to all. Click here to register and apply.

A Decade of Advancement and Achievement

This year marks the 10th anniversary of the BioHealth Capital Region Forum, and we are celebrating a decade of advancements that have positioned our region at the forefront of the biopharma industry. The Forum, spanning the first two days (September 17-18), will feature a lineup of speakers who are pioneers and thought leaders in the industry. Attendees will gain invaluable insights through keynote speeches, panel discussions, and sessions that delve into the latest innovations and trends shaping healthcare and biopharmaceuticals.

Crab Trap Competition: Where Innovation Meets Opportunity

The excitement peaks on September 18th with the 9th Annual Crab Trap Competition. This event showcases emerging companies as they pitch groundbreaking solutions to a panel of esteemed judges for a chance to win significant funding and support. It’s not just a competition; it’s a launchpad for the next generation of BioHealth innovations, providing startups with the visibility they need to attract investors and partners.

Connecting Innovators with Investors

The week concludes with the 7th Annual Investment Conference on September 19th, a must-attend for startups seeking investment and investors looking for the next big thing in BioHealth. This conference facilitates direct connections between up-and-coming companies and seasoned investors through curated meetings, fostering a dynamic environment for deal-making and partnership formation.

BETHESDA, Md., June 27, 2024 (GLOBE NEWSWIRE) — Gain Therapeutics, Inc. (Nasdaq: GANX), a clinical-stage biotechnology company leading the discovery and development of the next generation of allosteric small molecule therapies, today announces that Matthias Alder has departed the Company in order to pursue other opportunities. Upon Mr. Alder’s departure, the Company appointed Gene Mack, the Company’s current Chief Financial Officer, as interim Chief Executive Officer, effective June 25, 2024. Mr. Mack will retain his role as Chief Financial Officer. Khalid Islam, Ph.D., founder and Chairman of the Company’s Board of Directors, will bolster management as Executive Chairman until a permanent CEO is appointed.

Agency seeks proposals for innovative research and development from small businesses 

The Advanced Research Projects Agency for Health (ARPA-H), an agency within the U.S. Department of Health and Human Services (HHS), today announced new funding opportunities through the Small Business Innovation Research (SBIR)/ Small Business Technology Transfer (STTR) program. 

The ARPA-H SBIR/STTR solicitation seeks proposals from small businesses that aim to rapidly achieve better health outcomes across patient populations, communities, disease, and health conditions.

BALTIMORE–(BUSINESS WIRE)–CraniUS^™, an R&D company focused on groundbreaking diagnostics and treatments for patients with chronic brain disease, has been awarded a competitive $1 million grant from the State of Maryland as part of Governor Wes Moore’s Build Our Future Innovation Infrastructure Pilot Program. This funding milestone – the first ever granted by the state program – will help CraniUS^™ expand its research capabilities, accelerate product development into human studies, and enhance its contributions to Maryland’s innovation ecosystem.

18 projects will receive funding to support their growth and development

COLUMBIA, Md., (June 27, 2024) — TEDCO, Maryland’s economic engine for technology companies, announced the 2024 Maryland Makerspace Initiative Program (“Makerspace Program”) awardees. Funding will be awarded to 18 projects spanning across nine (9) counties and Baltimore City.

“TEDCO is committed to supporting the continued growth of innovation in Maryland. The Makerspace Program is just one tool that TEDCO has to promote this expansion,” said Terry Rauh, chief finance and operations officer at TEDCO. “And after witnessing the success and growth of last year’s awardees, we are hopeful that these awardees will continue the trend.”