News Archive

President Obama signed the Jumpstart Our Business Startups (JOBS) Act into law on April 5, 2012.  BIO advocated strongly for this new law, which includes several important policies designed to stimulate capital formation for growing businesses, including those in the biotech industry.  Some of the new policies were self-effectuating, while others are awaiting rulemaking at the SEC.  Below is a summary of the relevant provisions in the new law, along with a status update on the implementation process for each.

Newt Fowler looked across Baltimore’s Renaissance Hotel ballroom and noted who was missing from the tables.

Sure, there are plenty of leaders in today’s innovation economy in Baltimore, Fowler told the crowd Thursday at the Greater Baltimore Committee’s Economic Outlook Conference.

“They’re just not in this room today,” he said.

What we’ve got in our corner: Everything from good schools to a really funky music scene.

What we need to do: Everything from reform our corporate tax structure to rearrange our offices.

What’s at stake: The economic drivers who will keep Baltimore, and Maryland, competitive with the rest of the country and the rest of the world.

Baltimore’s Sage Growth Partners sees opportunity where others see a headache.

Over the past few years Sage, a health care technology consulting firm, has seen business pick up as more health care providers look for help installing and managing the new electronic record systems. CEO Don McDaniel declined to disclose the company’s revenue but said Sage has seen 50 percent annual growth for the past five years. That’s a trend he expects to continue as the company makes a move to break into consulting for startup companies in the health IT sector.

Companies spent $294 billion on research and development performed in the United States during 2011, compared with $279 billion during 2010 (table 1). Funding from the companies’ own sources was $222 billion during 2010 and $239 billion during 2011; funding from other sources was $57 billion in 2010 and $55 billion in 2011 (table 2). Data for this InfoBrief are from the Business R&D and Innovation Survey (BRDIS), which was developed and cosponsored by the National Science Foundation and Census Bureau.

Anyone can have a great business idea, and now students don’t have to be enrolled in the business school to get help making their ideas a success. This semester, the business school’s Dingman Center for Entrepreneurship expanded its Innovation Fridays program to reach students of all majors. The program, which used to be advertised only to business school students, gives student entrepreneurs free consultations with successful business owners to get advice for starting their own small businesses, promoting social causes or creating new technology.

University of Maryland, Baltimore and MedImmune are pairing up for a five-year, $6 million collaboration on bioscience research.

The Gaithersburg-based drug company and the university will both put money and scientists toward joint research projects. The projects will focus on medical conditions and diseases in MedImmune’s wheelhouse, such as cardiovascular disease, respiratory problems and inflammation.

The success of MenAfriVac shows vaccines can be developed outside Big Pharma’s walls, but, in most cases, the cost of late-phase trials is too great for charities. Recognizing this, JPMorgan Chase and the Bill & Melinda Gates Foundation have set up a Big Pharma-backed investment fund. 

GlaxoSmithKline ($GSK), Merck ($MRK) and Pfizer’s ($PFE) foundation are among the investors in the fund, which will back late-stage development of technologies to fight disease in low-income countries. Having raised $94 million from its initial backers, the Global Health Investment Fund (GHIF) will now start trying to give vaccines and other technologies the financial clout to navigate Phase III trials.

The National Institutes of Health has launched a major initiative to improve how basic science advances and discoveries are translated into commercially viable products that improve patient care and advance public health.

The NIH Centers for Accelerated Innovations (NCAIs), funded by the NIH’s National Heart, Lung, and Blood Institute (NHLBI), will target technologies to improve the diagnosis, treatment, management, and prevention of heart, lung, blood, and sleep disorders and diseases.