The economy works like a simple machine. But many people don’t understand it— or they don’t agree on how it works — and this has led to a lot of needless economic suffering. I feel a deep sense of responsibility to share my simple but practical economic template. Though it’s unconventional, it has helped me to anticipate and sidestep the global financial crisis, and has worked well for me for over 30 years.
The Johns Hopkins University regained a five-year, $70 million federal grant designed to change how researchers pursue drug development and other medical treatments, but the University of Maryland, Baltimore lost its first bid for a similar grant, the National Institutes of Health said Tuesday.
The award pleased Hopkins officials, who had been forced to tweak their proposal for the grant after their application wasn’t renewed in 2012. The university received $80 million through the program, which focuses on what is known as “translational” research, from 2007 through 2011.
Biotechnology startups have stampeded to the public markets this year, but their colleagues in the medical device field have sat quietly on the sidelines.
Chris Ratcliffe/Bloomberg News So far this year, 27 venture-backed biopharmaceutical companies have gone public, compared to just one medical device company, according to industry tracker Dow Jones VentureSource.
Go Neighborhood-Hopping in Baltimore
The city’s once-grungy northern districts have transformed into a thriving area with hip boutiques, destination restaurants, and a homegrown art and nightlife scene.
When WellDoc was founded in 2005, it was one of the first companies that sought 510(k) clearance for its patient and physician facing mobile health DiabetesManager platform. By putting its flagship apps through the discipline of clinical trials that generated positive results, it has helped earn confidence from physicians to prescribe it to their patients. Insurance companies are providing reimbursement for physicians and that has been critical for the company’s growth.
The Baltimore, Maryland-based company’s fundraise last year of about $8.4 million, in an amended Form D filing today, shows that confidence in the company is building. In a phone interview with WellDoc Chief Strategy and Commercial Officer Chris Bergstrom, he said the company continues to be entirely funded by angel investors who are flexing more power as Super Angels. “Each year we have brought on a higher caliber of angel investors. We’re really raising angel money at an institutional investor level.” He added: “It’s a great time and place for institutional investors, but angel investors can provide as much strategic value as institutional investors.”
QIAGEN N.V. today announced a partnership with Clovis Oncology CLVS +1.11% to co-develop and co-commercialize a companion diagnostic test to guide the use of CO-1686, a novel Clovis Oncology product candidate currently in clinical development. The Clovis drug candidate will initially target an unmet clinical need in patients with epidermal growth factor receptor (EGFR) driven non-small cell lung cancer (NSCLC) for whom current EGFR-inhibiting drugs no longer control disease.
The diagnostic will build on QIAGEN’s therascreen® EGFR RGQ PCR Kit, which was approved by the U.S. Food and Drug Administration (FDA) in July 2013 as a companion diagnostic for use in the treatment of metastatic NSCLC in patients whose tumors have certain EGFR mutations. Analytical performance of the therascreen EGFR test has been established for 21 EGFR mutations, including the most prevalent resistance mutation, T790M. The test supports efficient laboratory workflow with real-time PCR technology on the FDA approved Rotor-Gene Q MDx, which is part of the QIAsymphony family of laboratory solutions.
Governor Martin O’Malley today joined with Montgomery County Executive Isiah Leggett and City of Gaithersburg Mayor Sidney Katz to announce that Emergent BioSolutions is expanding into a new headquarters building in Gaithersburg, and also plans to make improvements to its existing Research and Development site. As part of the expansion, the global pharmaceutical company will retain its existing 235 employees, and hire an additional 133 employees over the next five years.
“Emergent BioSolutions’ continued investment in Maryland helps solidify our position as a life sciences powerhouse,” said Governor O’Malley. “I am proud that Emergent BioSolutions is growing in Maryland, continuing to create jobs and working to develop life-saving vaccines that will give hope to millions of people around the world.”
This Notice is to provide NIH’s extramural community with information on how NIH is resuming operations after the government shutdown.
eRA Systems Availability
eRA systems will be available for use by the applicant/grantee/reviewer community on Monday, October 21.
Rescheduling October Application Due Dates
All October grant application due dates have been rescheduled as follows: Standard Due Dates:
Cleveland Clinic is in the midst of its annual Cleveland Clinic Medical Innovation Summit today at the new Global Center for Health Innovation. More than 1,100 entrepreneurs, investors, executives and clinicians have gathered for a show and tell of new ideas in the medical world. Cleveland Clinic Chief Information Officer C. Martin Harris talks about how the health system stays nimble on the innovation front.
Cleveland Clinic Innovations, the corporate venturing arm of Cleveland Clinic, was founded in 2000, and it has been hosting the Medical Innovation Summit since 2003. Since Cleveland Clinic Innovations was founded, it has:
When Pascal Soriot took the reins of AstraZeneca last fall, he said he planned to corral firms with promising innovations in their pipeline to reinvigorate the Anglo-Swedish pharma’s offerings.
And so he has – to the tune of more than $1 billion.
Since the former chief operating officer of Roche AG was named CEO on Oct. 1, 2012, the firm has made five acquisitions, five collaborations with other pharmas to develop drugs, and entered two licensing deals. Six of the 12 moves are tied to cancer treatment developments, a core focus for the firm, while the remaining are in diabetes and renal, kidney, cardiovascular and respiratory diseases.
