News Archive

Spring Capital Partners has completed fundraising for a $175 million fund that will invest in small to midsize companies.

The fund is the third — and largest — the Baltimore firm has raised since launching in 1999. Its first in 2000 raised $75 million. The second in 2006 raised $115 million.

Spring’s new fund will buy minority stakes in companies with $10 million to $150 million in revenue. Its investments will not be confined to specific industries, but will span a wide range of companies. Earlier investments have included manufacturers, information technology firms government contractors and software companies.

Being able to learn marketable digital skills is sluggish and difficult — or so they say.

Adda Birnir noticed a gender divide between a media company’s business and technical side (read: men) versus the editorial side (read: women). She created online tech education platform Skillcrush to give women a way to learn marketable skills that could lead to steady, high-paying jobs and relevant, satisfying work.

When something like three in four venture-backed startups fail, picking the ones that won’t is definitely not an easy feat.

In search of what they call the “unicorn VCs” of healthcare – investors who have consistently invested in companies with the biggest of the big exits  – analysts at research firm CB Insights combed through a decade of healthcare M&A data. They found 50 medical device and biotech companies that exited, through IPO or acquisition, with valuations of at least $500 million between 2004 and 2013.

MedImmune announced on Wednesday a $6.5 million research partnership with Johns Hopkins University, marking the second academic collaboration inked by the Gaithersburg biotech in recent months.

The agreement, which spans five years, will center on projects in oncology, infectious disease, antibody discovery and protein engineering, as well as respiration, inflammation and autoimmunity.

Rockville-based biodefense company Emergent BioSolutions, taking steps to move deeper into the commercial drugmaking world, is paying $222 million to buy Cangene Corp., a Canadian firm, according to the Washington Post.

Emergent emerged as a key biodefense company following the Sept. 11 attacks, when it sold Anthrax vaccines to the U.S. government.

GlaxoSmithKline is to invest another 200 million pounds ($330 million) on advanced manufacturing in Britain, the company said on Wednesday, underlining the draw of a tax break designed to encourage research and development.

Britain’s so-called “patent box” scheme, which offers a reduced rate of corporation tax on income derived from patents, has been hailed by GSK, its biggest drugmaker, for transforming the country as a place to invest.

BD Diagnostics, a segment of BD (Becton, Dickinson and Company), a leading global medical technology company, today introduced two new erythrocyte sedimentation rate (ESR) instruments in Europe that standardise analysis for more accurate, timely results and an efficient workflow in comparison to a manual Westergren method. This next generation of BD ESR instruments results in improved patient care in the laboratory or point of care setting.

Erythrocyte sedimentation is a commonly used hematology test to measure inflammation and the presence and severity of disease. “Improved automation and efficiency are key to carrying out analytical tests in a busy laboratory. More and more tests are being conducted each year and reduced healthcare spending puts pressure on laboratory resources,” comments Stephen Church, European Medical Affairs, BD Diagnostics -Preanalytical Systems. 

Drexel University, the University City Science Center and DreamIt Ventures are on a mission to support innovators and entrepreneurs in the Philadelphia region and have formed a strategic partnership that creates a hub for start-ups to test their wings and the capital that will support their continued growth.

Drexel – Science Center Collaboration

Drexel and the Science Center have collaborated to form a 17,500-square-foot innovation hub that will serve as a launching pad for companies by offering business incubation and accelerator spaces and services to support idea generation, innovation and growth as well as support for later-stage companies.

The Indian Biomedical Association (IBA) invited entrepreneurs from early phase companies with products or services in the life sciences industry the opportunity to connect, collaborate and partner with investors. Following the event on Nov 17th [Developing and delivering effective investor presentation for your early stage venture], four companies were chosen to pitch in front of investors on Dec 17th, 2013. The four companies are: Neuronascent, RoosterBio, LiquiLens and OTOMAGNETICS. 

Top Five Reasons You Should Attend:

1. Learn by Example- Listen carefully to how others pitch so that you can perfect your own!

2. Understand what seasoned investors expect in real life terms

3. Networking with like-minded professionals

4. Create your own Due Diligence process for investing

5. Building a vibrant entrepreneurial healthcare and life science community in the DC/MD/VA region – Be a Part of It!

Own an emerging cyber security company and need more cash to grow?

Maryland has set aside $3 million in tax incentives for companies seeking outside investments. Those investors must keep their money in the company for at least three years.

There has been some confusion over the tax credit so state officials are trying to get the word out that there’s money on the table.