News Archive

When Johnson & Johnson ($JNJ) Innovation debuted about a year ago, R&D chief Paul Stoffels promised to build an interconnected, global operation that would sink some deep roots into the world’s busiest biotech hubs. On Thursday, the group showed off just how far it had come in a short time, highlighting a slate of a dozen new deals, ranging from fresh research collaborations to new investments in a range of upstart drug and device developers–all aimed at putting the multinational pharma giant on the cutting edge of new product development.

The first half of 2014 has seen less job-cutting by biopharma companies than a year earlier, at least according to one recent report.

The latest monthly job report by Challenger Gray & Christmas, released July 3, showed that biopharmas announced plans to eliminate 4,215 jobs between January and June of this year, down more than one-third (37%) from the 6,709 jobs announced as being jettisoned in the first half of 2013.

Founder salaries

Q.: Is it okay to pay yourself (and other founders) a salary when you’ve only raised money from friends and family? If so, how much is reasonable? What’s an acceptable salary to pay yourself once a non-family seed round is raised?

In biotech’s early days, telling a story to a wide audience used to be part of the path to success. Founders would share a compelling early narrative to potential investors, reporters, and just about anyone else who would listen. Nature papers were the coin of the realm.

But far from shouting to the rooftops, lately it seems that more and more biotechs are pursuing a different approach. Instead of keeping their technology under wraps until a first financing happens, these companies go into what we call “permanent stealth mode.” The principle here seems to be, “say no more publicly than necessary, and even then, keep it vague.” Meantime, let your actions speak for you: Raise money. Sign partnerships with pharmaceutical companies. And then, seemingly out of nowhere, hand consumers and investors a finished product or service.

Date:  Monday, September 22, 2014

Location: North Carolina Biotechnology Center 15 TW Alexander Drive Research Triangle Park, NC 27709-3547 http://www.ncbiotech.org/

Background:

NHLBI’s Office of Translational Alliances and Coordination (OTAC) hosts this semi-annual Regional Innovation Conference that brings together small businesses, angel investors, venture capitalists, strategic partners, and business leaders from the biotech and pharmaceutical industries. NHLBI staff will be available to describe the details and impact of recent changes in the Federal SBIR/STTR program, as well as note other funding opportunities and resources for NHLBI small businesses.

Previous conferences have been held in Boston, MA, San Francisco, CA, San Diego, CA, and Rockville, MD.

On a recent tour of the latest addition to University City Science Center’s campus in Philadelphia – an innovation hub in an established building on its campus set to officially open next week — I unexpectedly came across an office belonging to Merck.

It’s all the more interesting because it’s just a few doors down from DreamIt Ventures and its accelerator DreamIt Health, which has a second class of health IT entrepreneurs moving in next week. The Science Center’s own digital health accelerator will also be working in the building.

New Enterprise Associates averaged a U.S. funding deal every three days in the first half of this year, the hottest six months for the industry since the end of the dotcom boom in 2001.

Not far behind NEA’s 64 first half deals were Kleiner Perkins Caufield & Byers (54), Andreessen Horowitz (52) and Google Ventures (50), according to a report from investment database research firm CB Insights.

The Tech Council of Maryland hopes a new office at the University of Maryland BioPark will help the organization play a bigger role in technology and life sciences in Baltimore.

Much of the tech council’s activities are centered in Montgomery County, where the organization’s headquarters and many of its members are based. The tech council will open a new office at the biopark and staff it every Thursday. The Baltimore office will focus on strengthening partnerships with other technology organizations in the city and developing new programs that meet needs of Baltimore-area companies.

Register TODAY for one or more of the 5 NEW FastTrac Entrepreneurship classes being offered this fall at Montgomery College.

FastTrac is a nationally recognized entrepreneurship program that Montgomery College offers in partnership with the Kauffman Foundation. Nationally, 59% of FastTrac course participants launch start-ups and 60% of existing businesses report revenue growth in the following year. Locally, the FastTrac program has real and positive economic impact in Montgomery County.

Take advantage of an incredible international business opportunity and explore the India market with Montgomery County Executive Leggett during a business mission to India this November! 

Sign up now to join Leggett and fellow business, educational and community leaders for engaging stops in New Delhi, Bangalore, Hyderabad and Raipour.  August 1st is the deadline to apply for ExportMD grant funds to help defray the cost of participation in the  m