News Archive

Matan Companies announces today plans to transform its Milestone Business Park into a vibrant and collaborative life sciences destination known as Milestone Innovation Park. The key component of the evolution is the addition of 532,000 square feet of best-in-class biomanufacturing and life science research space in three, brand new facilities. This highly sought-after location sits along the I-270 Biotech Corridor with prominent visibility on I-270 at Father Hurley Boulevard in Germantown, MD., centrally located between NIH in Bethesda and Fort Detrick in Frederick. Just 20 miles northwest of Downtown Washington D.C., the site offers easy access to points north and south via I-270 and points east via the Intercounty Connector (ICC). Once complete Milestone Innovation Park will be one the largest, science-based destinations in the BioHealth region at over 1.2 million square feet.

Novavax is aiming to seek Emergency Use Authorization for its COVID-19 vaccine NVX-CoV2373 later this spring. If the U.S. Food and Drug Administration gives it the green light, the Maryland-based company could see revenue of approximately $1.8 billion in sales by the end of the year.

Data and analytics company GlobalData pegged the potential revenue for Novavax based on a potential authorization from the U.S. Food and Drug Administration and other regulatory agencies across the globe. The revenue stream from the vaccine is expected to continue well past the close of business for 2021. GlobalData forecast Novavax’s vaccine will generate $33.3 billion from expected authorization this spring through 2027. A peak forecast of $7.2 billion is expected in 2027 alone, according to the report.

The five health care-focused cohort members were selected from a pool of 120 applicants.

Image: LifeBridge Health and CareFirst BlueCross BlueShield have partnered to launch a new incubator for health startups, called 1501 Health CAREFIRST/LIFEBRIDGE

The University of Maryland will house an incubator for quantum computing startups, offering access to high-quality internet and connections with potential customers, the school announced last week.

The university will spend $25 million to create the Quantum Startup Foundry, according to a press release. The $25 million comes from state investment and from the university’s Discovery Fund. The program will include a physical space for the startups on the school’s College Park campus, including offices and labs.

Infectious disease therapies have been awarded the highest number of National Institutes of Health (NIH) grants over the last 20 years, according to GlobalData’s Pharmaceutical Intelligence Center’s deals database. The Covid-19 pandemic shed light on the importance of funding for drug development in this crucial therapy area. The Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programmes encourage innovation and technological development from small businesses with a focus on commercialisation. These programmes allocate hundreds of grants each year for infectious disease commercialisation, especially at crucial early stages of development.

Background: Advancements in biotechnology are recognized as one of the most important scientific achievements of the 20th Century. The emergence of biotechnology profoundly impacted the health of the world, and the economic vitality of regions where bio clusters and bioresearch parks grew. This article explores some of the historical and policy implications undergirding this development in the United States and the importance of alignment of life science research activity, public policies, and leadership to build place-based communities of biotechnology innovation.

Montgomery County, Maryland, was a leader in biotechnology before COVID-19 hit, ranking among the highest in the nation for the number of life sciences companies, and the pandemic has only fueled the industry’s growth.

That means more high-paying jobs and demand for research and laboratory-suitable real estate.

Image: TCR² Therapeutics’ future lab space will be built in Rockville, Maryland. (Courtesy JLL)

April 23, 2021 (Washington, D.C.) – Connected DMV, a cross-sector regional non-profit committed to solving complex economic and social challenges in Greater Washington, today announced two new members to its executive team. Former Obama Administration Commerce Department official Matt Erskine has been named Chief Strategy Officer and former Bill & Melinda Gates Foundation officer Sarah Bauder has been named Vice President of Development and Workforce Initiatives. The organization also announced key milestones reached over the past year.

UpSurge Baltimore will aim to bolster existing efforts to support and scale local startups, and also develop new strategies for attracting additional companies, talent and capital to the city.