Seeking to maximize ongoing research, innovative ideas and revenue-generating opportunities, more schools are creating entrepreneur-in-residence programs — and letting the experts do the work.
With millions of dollars of research funding and teams of experts at their disposal, more universities are seeking ways to turn research breakthroughs into business opportunities.
Among 400 applications from 22 countries, 13 early stage healthcare companies have been chosen for a three-year entrepreneurship class run by StartUp Health and GE, according to a statement from the companies. The class members will each be assigned a GE mentor who matches their business model and get access to the resources the Fortune 50 company can wield to help scale their consumer health innovations. That could include working with GE Healthymagination, GE Healthcare, GE Capital, or some of its business units, depending on the members’ specific needs.
AstraZeneca ‘s ( AZN ) worldwide biologics research and development (R&D) unit, MedImmune recently acquired AlphaCore Pharma, a biotechnology company based in Michigan. Financial terms of the deal were not disclosed by the companies.
We note that the acquisition of AlphaCore Pharma adds ACP-501 (a recombinant human lecithin-cholesterol acyltransferase/ LCAT enzyme) to AstraZeneca’s pipeline. The candidate is being developed for acute coronary syndromes (ACS) and other high-risk atherosclerosis conditions for the rapid removal of tissue cholesterol.
Digital health incubator Rock Health released data today that shows an increase in funding for med-tech startups in the first quarter of 2013.
Thirty-seven health deals were valued at a total of $365 million, which is 35 percent higher than the first quarter of 2012, “suggesting that 2013 will be another record year for the digital health industry,” the blog post reads.
A big-data revolution is under way in health care. Start with the vastly increased supply of information. Over the last decade, pharmaceutical companies have been aggregating years of research and development data into medical databases, while payors and providers have digitized their patient records. Meanwhile, the US federal government and other public stakeholders have been opening their vast stores of health-care knowledge, including data from clinical trials and information on patients covered under public insurance programs. In parallel, recent technical advances have made it easier to collect and analyze information from multiple sources—a major benefit in health care, since data for a single patient may come from various payors, hospitals, laboratories, and physician offices.
Johns Hopkins researcher Se-Jin Lee was named Wednesday as the 2013 recipient of the Ho-Am Prize in Medicine, which recognizes outstanding accomplishments in medical research that pave the way to conquering disease. It is awarded each year to an ethnic Korean and is sometimes referred to as “Korea’s Nobel.”
Lee is best known for his discovery of myostatin, a hormone that regulates muscle mass, and related work that lays the foundation for new therapies for conditions such as muscle wasting and muscular dystrophy.
Philadelphia has reached a milestone in its efforts to be recognized as a healthcare and life sciences hub with the start of its first health IT accelerator.
DreamIt Health’s inaugural class includes 10 startups. The four-month program co-sponsored by Independence Blue Cross and Penn Medicine includes members seeking to develop tools for healthcare providers to speed up diagnoses and improve outcomes.
Maryland has invested $500,000 in Cytomedix Inc., a regenerative medicine company in Gaithersburg.
The investment was made through the state’s Maryland Venture Fund and InvestMaryland program. The state said the money is part of a $27.5 million fundraising round by Cytomedix (OTC: CMXI) that will result in the company adding 13 new employees to its current staff of 55.
Tom Sadowski, President and CEO, of the Economic Alliance of Greater Baltimore has been appointed to UMBC’s Public Policy External Advisory Board. Created in 2003, the External Advisory Board provides advice and guidance to UMBC’s Department of Public Policy and the Maryland Institute for Policy Analysis and Research (MIPAR). An important part of their mission is to bring the University’s public policy expertise to bear on the concerns of the communities they serve.
Gaithersburg-based MedImmune, which is gaining hundreds of jobs in a consolidation by parent company AstraZeneca PLC, has completed its acquisition of AlphaCore Pharma LLC for an undisclosed sum.
The Ann Arbor, Mich.-based biotechnology company is developing a drug for high cholesterol. Cardiovascular and metabolic disease is one of MedImmune’s core research areas.
