News Archive

We are currently enjoying a much needed resurgence in the biotechnology industry. The industry has been the best performing sector in the stock market for the last two years and it appears it will be again this year. This performance has enabled companies to raise capital, either publicly or privately, in record amounts. We expect the industry to raise more than $4 billion this year. The performance of the stock of companies that have executed initial public offerings is quite impressive. The average stock prices of the 23 life science IPOs through July are up over 50 percent from their offering price (on average) with only four trading below their offer price.

Governor Dannel P. Malloy today signed new legislation creating a $200 million Bioscience Innovation Fund during a ceremonial event at the University of Connecticut Health Center (UCHC). The fund will make investments over the next 10 years in the form of grants, equity investments, loans and loan guarantees to foster innovation in smaller companies.

“Over the last two and a half years, we’ve taken great steps forward in reinventing our economy,” said Governor Malloy. “With the addition of Jackson Laboratories and the investments we are making in our flagship university, we are positioning Connecticut to be a leader in the creation of 21st Century jobs. The Bioscience Innovation Fund will allow us to build on the tremendous progress that’s being made across our state. Little by little, we are turning around years of stagnation and growing jobs for our residents.”

NovoBioPharma, a global biopharmaceutical firm with locations in Cambridge, MA, Delaware, and Philadelphia, and UPstart at the University of Pennsylvania announced today that they entered into a synergistic collaboration in which NovoBioPharma provides critical guidance and strategic direction to select life science UPstart companies embarking on the commercialization of early stage opportunities.  UPstart provides support for Penn inventors interested in pursuing entrepreneurial endeavors through ventures formed in partnership with Penn. NovoBioPharma will assist companies within UPstart to develop scientific and financially sound development plans to take these entities from proof of concept and beyond. 

The education establishment is in a twit over the phenomenon called “summer slide.” “Summer slide” is the loss of knowledge/competence in the summer months, according to research done by the RAND Corporation and Johns Hopkins University. “Summer slide” disproportionately plagues poor kids of color, so the recent, alarmingly low scores recorded by urban students on the Common Core tests heightened sensitivity around this issue.

Rather than acknowledging the corrosive effects of poverty, or conceding that the testing and accountability era has been a failure and has driven lousy practices, the answer is to make the least privileged kids work longer and harder while their more affluent peers summer in the Hamptons or South of France.

The NFL, Under Armour and GE on Wednesday launched Head Health Challenge II, an open innovation challenge to award up to $10 million for new innovations and materials that can protect the brain from traumatic injury and for new tools for tracking head impacts in real time. The challenge is part of the Head Health Initiative, a collaboration to help speed diagnosis and improve treatment for mild traumatic brain injury.

Kevin Plank, Founder and CEO of Under Armour said: “As longstanding partners of the NFL and in collaboration with GE, we take great pride in our participation in the Head Health Challenge II. We are excited to harness the power of innovation and assemble the best minds in the world towards an effort to make the field of play safer across all sports and for all athletes.”

This graph is a good visual depiction of how aging baby boomers, advances in technology and shifts in the way healthcare is delivered under reform may influence jobs in the healthcare sector.

In a Labor Day article, PBS directed us to interesting data published last year by U.S. Bureau of Labor Statistics in its Occupational Outlook Handbook (h/t @VentureValkyrie). Seventeen of the 30 occupations expected to grow the quickest between 2010 and 2020 are healthcare and medicine-related.

With all the concern (and liability) hospitals and their partners face to keep patient medical data secure and private, one new biometric security innovation could offer an interesting alternative to the typical password. This wristband grants users access to their devices by identifying the wearer by their heartbeat.

Image Courtesy of dream designs / FreeDigitalPhotos.net

Johns Hopkins University’s Whiting School of Engineering said Tuesday it will partner with Campbell & Co., a Baltimore-based investment firm, in a teaching and internship program.

Staff from Campbell will teach an investment science course at Hopkins during the fall semester and offer paid internships to as many as three Hopkins students during the year.

BD Diagnostics, a part of Becton Dickinson and Company, announced on Tuesday that the U.S. Food and Drug Administration has cleared the launch of its BD ProbeTec Trichomonas vaginalis Qx Amplified DNA Assay.

The BD ProbeTec Trichomonas vaginalis Qx Amplified DNA Assay will be used in BD Diagnostic’s BD Viper System with XTR Technology to detect T. vaginalis DNA in endocervical, vaginal and urine samples. The BD Viper System is used by laboratories to test samples for T. vaginalis, C. trachomatis and N. gonorrhea and can also be used in batch mode to test for chlamydia and gonorrhea, trichomonas and herpes.