Biohealth Innovation
Johns Hopkins says it is working on its largest-ever fundraising campaign, which aims to raise $4.5 billion by the end of 2017.
The university and health system announced the effort Saturday. The idea is to create as many as 300 endowed professorships and generate nearly $700 million for undergraduate financial aid and graduate student fellowships.
The Ernst & Young Entrepreneur Of The Year 2013 finalists have a lot to celebrate. They've built their dream companies. Expanded. Innovated. And now Ernst & Young is recognizing them for their achievements. Help us congratulate these outstanding entrepreneurs. Join us at this years event and see who will take home top honors.
Somewhere between venture funding and bank loans is a kind of investment that seems to fly under the radar, but apparently over the last several years has become increasingly popular for biotech companies beyond the startup stage looking for growth capital.
Royalty financing is the vehicle that Capital Royalty L.P. will use to invest its new $805 million fund in healthcare products and technologies. But (sorry startups), it’s not looking for early-stage companies. Capital Royalty says it invests in companies with FDA-approved healthcare products that are generating revenue. These are companies looking to make acquisitions, expand into new markets or develop new products with investments of $20 million to $200 million.
Late last week, leaders from across the global vaccine industry gathered at the 6th Annual Vaccine Industry Excellence (ViE) awards ceremony during the World Vaccine Congress in Washington, D.C, to honor the industry’s best and brightest. Immunovaccine is proud to announce that chief executive officer John Trizzino was awarded this year’s Best Biotech CEO prize during the ceremony.
In considering candidates for the Best Biotech CEO award, judges evaluated a number of important criteria including:
The Maryland Technology Enterprise Institute (Mtech) today announces the winners of the inaugural University of Maryland Business Model Challenge.
The two winning UMD entrepreneur teams were selected from among 44 initial entries and 11 finalist teams, six of whom were selected to present the results they achieved through the Challenge's multi-week lean startup workshop to an expert panel of judges on April 26 at the University of Maryland.
Earlier this month, the National Venture Capital Association (NVCA), a trade association representing the U.S. venture capital industry, released the results of its MoneyTree Report on venture funding for the first quarter of 2013. The report, which is prepared by NVCA and PriceWaterhouseCoopers LLP using data from Thomson Reuters, indicates that venture capitalists invested $5.9 billion in 863 deals in the first quarter, which constituted a 12% decrease in dollars and a 15% decrease in deals as compared with the fourth quarter of 2012, when $6.7 billion was invested in 1,013 deals (see chart below; data from MoneyTree Reports).
Cyber - Health - Mobile
Thursday, June 6, 2013 8:00am – 1:00pm —UMBC
Join us as we bring together top leaders and innovators in the fields of Cybersecurity, Health IT, and Mobile Technology. Learn where the technology is leading these 3 sectors and the opportunities that exist for real estate brokers and developers who want to capitalize on these expanding industries.
Hear from leaders including Dr. Freeman Hrabowski, one of Time Magazine’s “World’s 100 Most Influential People”, as well as Dr. Mark Doms, Under Secretary for Economic Affairs with the United States Department of Commerce, who serves as a top economic advisor to the Obama Administration and to the Department of Commerce.
Startup Maryland today announced dates (September 9 – 27) and the rough route for the Pitch Across Maryland 2.0, the second annual state-wide tour and celebration of entrepreneurship and startup companies.
Referred to by CBS News affiliate WBOC-TV 16 as “Opportunity on Wheels,” the inaugural Pitch Across Maryland tour was an overwhelming success last year. The bus traversed the state all in the name of celebrating entrepreneurship. A sampling of details, key data and results from last year’s tour follow:
The Johns Hopkins Bloomberg School of Public Health has partnered with Barclays Bank to develop a youth entrepreneurship program with the Bloomberg School's Center for American Indian Health. The new initiative is aimed at designing an evidence-based program to inspire American Indian youth to stay in school and create business and social entrepreneurship opportunities.
As part of the partnership, Barclays will provide a total of $1.2 million in program funding over the course of the next three years. Additionally, Barclays employees will lend their business expertise and serve as mentors to program participants. Program efforts will first concentrate on the White Mountain Apache Reservation in Arizona with the ultimate goal to implement youth entrepreneurship programs in poverty stricken communities throughout the world.
Chandra Duggirala, maker of an experimental device for type two diabetes, is on the verge of giving up.
Duggirala’s company, Novobionics, raised a small amount of funding for a noninvasive technology that mimics the effects of gastric bypass surgery. The device tricks the gastro-intestinal tract into thinking it is full, which slows the rate of nutrient absorption, thereby easing suffering for diabetes patients.
Ingenuity Systems, a 15-year veteran of the biological software business, showed today that you can make money not just by generating DNA data, but by helping scientists figure out what it means.
Redwood City, CA-based Ingenuity said today it has agreed to be acquired by Netherlands-based Qiagen for $105 million in cash. Ingenuity, a private company, was able to fetch that price after it closed last year with about $20 million in net sales, the companies said in a statement. The deal is expected to start adding to Qiagen’s profits in 2015, the companies said.
President Barack Obama dropped in on the National Academy of Sciences today to help it celebrate its 150th birthday.
The president said he's committed to increased public investment in scientific research, contending this is necessary in order for the U.S. to retain its technological edge. Under sequestration, however, federal spending on research is being cut, not increased.
A Columbia University administrator is taking over a top post at Johns Hopkins University.
Robert C. Lieberman will take on the role of provost and senior vice president for academic affairs at Hopkins July 1. Lieberman is currently the interim dean of Columbia’s School of International and Public Affairs.
Last year AstraZeneca's ($AZN) MedImmune did about 20 biologics deals, not counting the academic pacts it assembled. This year, MedImmune R&D chief Bahija Jallal tells me, there will be no letup in talent scouting. "If we do as little or more than last year," says Jallal, "I would be happy."
Echoing late-stage R&D chief Briggs Morrison--who spoke with me at BIO last week--Jallal singled out cardiovascular/metabolics, respiratory and cancer as key fields for new deals. She noted particular interest in brown fat, a focus for weight-loss fans, and immunotherapeutics, which has emerged as one of the hottest sectors in oncology R&D.
Google Ventures has been backing startups through its venture capital fund since 2009 and offers a pretty diverse range of services to entrepreneurs. Here’s a look at the eight healthcare and life science businesses among its portfolio companies spanning DNA analysis, accelerated drug development, and oncology analytics.
23andMe The startup has helped make personal genetics and DNA analysis much more accessible to consumers. The company, co-founded by Anne Wojsicki, offers DNA test kits that for $99 and a little saliva help people better understand what conditions they are at risk for developing, whether they are carriers for any diseases that they could unwittingly give to their children. It can also provide information on whether people’s genetic makeup makes them particularly sensitive to certain drugs. It also uses results from user queries, with their consent, to conduct in-house research.
May 7, 2013, 8:00am – 5:30pm (EDT)
NCI Shady Grove, 9609 Medical Center Drive, Rockville, MD 20850
This workshop will include opportunities for one-on-one meetings with representatives of many of the presenting federal organizations. Please indicate your interest and top three choices below for one-on-one meetings. NCI SBIR Program Directors will also be available to meet on the afternoon of May 6. If you are interested in setting up a meeting on May 6, please mark the appropriate selection on the registration form below.
On May 6 at 6pm (EDT), NCI SBIR will host an informal, optional meet and greet at the Cafe Deluxe in the Rio Entertainment Center (9811 Washingtonian Boulevard Gaithersburg, MD 20878 – Terrace Room). Due to government restrictions, the meet and greet will be self-pay. Please RSVP below, as space for the meet and greet is limited.
Due to space limitations, priority will be given to current or recent NCI SBIR or STTR awardees, with a maximum of two (2) representatives allowed per company. This workshop is provided free of charge to attendees (excluding food and transportation expenses).
Once again we’re stepping into spring with more exciting programming in health entrepreneurship. Our Rock Health Skillshare series is open to the public and provides a unique opportunity to get an in-depth look at critical issues in health innovation, as well as a peek at Rock Health HQ in Chinatown (Dim sum anyone?). Classes generally range from $25-$30 and we provide snacks, refreshments, and ample opportunity for networking afterward. Our teachers have extensive real-world domain expertise that they are enthusiastic about sharing with others.
The Association of University Research Parks is proud to present the 18th Annual Awards of Excellence in research and science park development and practice. AURP will honor industry leaders at the 2013 International Conference in Philadelphia, Pennsylvania.
These awards bring valuable recognition to the recipients and to the industry as a whole. To nominate a park, company or an individual who has demonstrated excellence in the field, please use the below links. Each link also provides criteria and details about the award. Nominations are due by May 20, 2013.
ETC, Baltimore City’s technology innovation center, announced today that it has chosen a new Baltimore City location to house it’s award winning technology incubator when its current Canton lease expires in October 2013. The ETC will move to 101 N. Haven Street, an adaptive reuse of an historic industrial building that was once home to the King Cork and Seal Company. The recently renovated building is located near Highlandtown with easy access to I-95 and is within the Enterprise Zone and a HUBZone. The ETC will maintain space in its other location at Johns Hopkins University - Eastern Campus on 33rd Street.
“The Emerging Technology Center has championed small business development and job creation in Baltimore for years, and we are proud to have supported their efforts,” said Baltimore Mayor Stephanie Rawlings-Blake. “We wish them the best of luck and success in their new location. I’m confident that the ETC will continue to be an important driver of innovation and entrepreneurship in the city. ”
The Emerging Technology Center will move to a new space in East Baltimore when its lease ends this fall at the Can Company, ending months of speculation about the incubator’s future in Canton.
The ETC plans to move in October to new offices in the former King Cork and Seal Building, a 70,000-square-foot property at 101 N. Haven St. in Highlandtown, not far from Interstate 895. The ETC's new 20,000-square-foot space is less than the 30,000 square feet of usable space it leased in Canton. The ETC, overseen by the Baltimore Development Corp., has had its office in Canton since 1999.
Maryland often has been at the forefront of innovation with a longstanding reputation for investing in science and technology to capture new opportunities for economic growth. This year's legislative session was no different. Lawmakers backed Gov. Martin O'Malley's proposals to support the state's bioscience sector, expand the R&D tax credit, enhance workforce training, and promote measures to establish the state as a leader in cybersecurity.
Today, the National Venture Capital Association (NVCA) and the Medical Innovation and Competitiveness Coalition (MedIC) released Patient Capital 3.0: Confronting the Crisis and Achieving the Promise of Venture-Backed Medical Innovation. The report, which is in its third release, highlights the contribution of venture capital to medical innovation and provides perspective on the current investment environment in the U.S. for life sciences.
“Venture-backed medical innovations still provide the critical new drugs, medical devices and diagnostics that improve and save the lives of millions of Americans, but the environment for investing in these breakthroughs has become increasingly challenging,” said Jonathan Leff, Partner at Deerfield Management and Chairman of MedIC. “While the promise of science to help solve our most pressing medical problems is extraordinary, the time, cost and uncertainty involved in building start-up companies that advance fundamental medical innovations have all risen, driving some investors away from the life sciences arena in recent years. We continue to express to policymakers the importance of promoting an environment that encourages investment in medical innovation.”
I wanted to share some data with you that illustrates the strength of Montgomery County's business community: total employment in the County grew by nearly 25,000 jobs - from 631,000 jobs in 2010 to 655,800 jobs in 2012! This is impressive given the economic climate and shows the resiliency and fortitude of our local businesses - large and small.
The top job gaining sector was professional, scientific and technical services, which added almost 5,300 jobs beteen 2010 and 2012. The other top growing sectors were government, retail trade and health care and social assistance, each adding over 3,000 jobs during the three year period.
What if you could create a biotech startup focused on treating a rare disease, with a drug candidate already in hand, and high odds of success in clinical trials?
That’s the concept that crystallized in former MedImmune executive David Mott’s mind through decades of experience in the life sciences sector. The idea ultimately led him to start a Cambridge, MA-based biotech incubator called Cydan. This new organization, formally announced this month, has been staffed with a hand-picked squad of specialists tasked with churning out a lineup of small companies that make drugs for orphan diseases.
Emergent BioSolutions Inc. (NYSE: EBS) announced today that it has entered into an asset purchase agreement to acquire the Healthcare Protective Products Division (HPPD) of Bracco Diagnostics Inc. in an all-cash transaction that includes payment of $26.0 million upon closing. The acquisition will diversify and expand Emergent’s biodefense franchise by adding product sales from HPPD’s marketed chemical countermeasure, RSDL (Reactive Skin Decontamination Lotion). The acquisition offers Emergent an opportunity to leverage its core capabilities in manufacturing, government contracting, government sales, and product distribution as it looks to substantially expand sales of RSDL in the attractive and growing chemical countermeasure market.
“This acquisition directly supports our ongoing growth plan, which includes acquiring revenue generating, profitable products and businesses that address the needs of U.S. and allied foreign governments across the CBRN spectrum,” stated Daniel J. Abdun-Nabi, president and chief executive officer of Emergent BioSolutions. “Our relationships, combined with those of HPPD, with the U.S. Government and foreign ministries of defense, as well as worldwide distributor relationships addressing first responder markets, should enable us to grow revenues from RSDL and to expand and enhance Emergent’s leadership position as a premier supplier of CBRN countermeasures.”
MedImmune has acquired Ann Arbor-based AlphaCore Pharma, creating another exit for a local up-and-coming start-up.
MedImmune, the global biologics research and development arm of AstraZeneca, has not disclosed the acquisition price nor its intentions on whether to keep the start-up in Tree Town. Tracy Rossin, director of corporate public relations for MedImmune, did write in an email that the company does "not have plans to expand its operations/workforce in Ann Arbor." She does add that her firm is "planning to incorporate AlphaCore Pharma into the larger AstraZeneca organization."
The purpose of the NHLBI SBIR Phase IIB Bridge Award is to facilitate and accelerate the capital-intensive steps that are required to transition SBIR Phase II projects to the commercialization stage by promoting partnerships between SBIR Phase II awardees and third-party investors and/or strategic partners. The Bridge Award encourages business relationships between applicant small business concerns and third-party investors/strategic partners who can provide substantial financing to help accelerate the commercialization of promising new products and technologies that were initiated with SBIR funding. In particular, applicants are expected to leverage their previous SBIR support, as well as the opportunity to compete for additional funding through the NHLBI Bridge Award program, to attract and negotiate third-party financing needed to advance a product or technology toward commercialization. The applicant’s ability to secure independent third-party investor funds that equal or exceed the total amount of the NHLBI funds being requested over the entire Bridge Award project period will help to validate the commercial potential that is essential for the SBIR projects solicited under the Bridge Award program. It is anticipated that many of the partnerships between small businesses and third-party investors will involve a considerable level of project due diligence by the private sector, thereby increasing the likelihood of commercial success for the funded projects. In light of these goals, the NHLBI strongly encourages applicants to establish business relationships with investors, strategic partners or both that have appropriate prior experience in commercializing emerging biomedical technologies.
In these changing times, the concept of Open Innovation is one that we at AstraZeneca have fully embraced.
By sharing new ideas and enabling scientific innovation to cross boundaries between companies, academia, government and non-profit organizations, we can accelerate new ideas into innovative medicines.
An Open Innovation discussion at BIO
I will discuss the importance that AstraZeneca places on Open Innovation today at this year’s BIO International Convention. An interactive session will include a panel discussion and presentations of cases studies of notable Open Innovation success stories.
Holding the keys to the future of health care and medicine is not something many children dream of doing.
But Bahija Jallal, executive vice president of AstraZeneca’s (AZN) biologics arm, MedImmune, knew from a very young age that was the career she was destined for.
The University of Maryland has signed an agreement for a student-exchange program with the University of Jordan that will boost research and the flow of students between College Park and the Middle East country’s largest and oldest university.
The announcement of the pact by University of Maryland President Wallace D. Loh comes as a delegation led by Gov. Martin O’Malley visits Jordan on the first leg of an eight-day trip to Jordan and Israel.
A doctor might ask for a patient's family disease history, or exercise or smoking habits, but whether they have trouble getting food onto the table or paying energy bills is unlikely to appear on any clinic questionnaire.
Those sorts of factors could have just as much, if not more, of an impact on a person's everyday health, argue the founders of a startup out of the Johns Hopkins University. Their company, Healthify, is giving clinics that serve largely low-income populations the means to gather and use that information.
The Biotechnology Industry Organization (BIO) is pleased to announce the election of Rachel King, President and CEO, GlycoMimetics, Inc, as the new Chair of its Board of Directors for the 2013-2014 term, and the election of David Pyott, Chairman, President, & CEO, Allergan, Inc., as its new Board Secretary. BIO also is pleased to announce the re-election of Mark Skaletsky, Chairman & CEO, Fenway Pharmaceuticals, Inc., as Board Treasurer, and the election of 19 Directors to serve on BIO's Board Executive Committee for the new term. In addition, BIO welcomes the election of eight new members to its Board of Directors, voted upon at this year's 2013 BIO International Convention.
"Rachel King brings a depth of industry experience and passion for advocacy that will serve BIO and its members well," said Jim Greenwood, BIO President & CEO. "I look forward to working closely with Rachel and our newly-constituted Board of Directors in the years to come."
The Biotechnology Industry Organization (BIO) today issued the annual Scientific American Worldview Report and Bio-Innovation Scorecard. On Wednesday, April 24, the Scientific American Worldview Super Session will take place during the 2013 BIO International Convention, the global biotechnology event, in Chicago, Ill. at McCormick Place.
Moderated by Fareed Zakaria, author, journalist and host of CNN's Fareed Zakaria GPS, the Convention Super Session is the marquee discussion forum among industry leaders on the state of biotech hubs and innovation around the globe. Panelists include Trevor Mundel, President, Global Health Program for The Bill & Melinda Gates Foundation; Robert Hariri, Chief Executive Officer, Celgene Cellular Therapeutics; Tomas Philipson, Daniel Levin Professor of Public Policy, The University of Chicago; and Sam Pitroda, Chairman, National Innovation Council, Government of India. The session will be held from 3:45pm to 5:15pm.
President Obama has challenged us all to help win the future by out-educating, out-innovating, and out-building our competitors in the 21st century.
Know someone who is doing extraordinary things to make a difference in your community? Nominate them to be a Champion of Change. We’ll consider your nominations as we feature people who are bringing about change in their communities on the White House website to share their ideas on how to win the future.
These infographics from DrugPatentWatch.com and BiologicPatentWatch.com track innovation and patent activity in the pharmaceutical and biotechnology industries: