News Archive

When it comes to Maryland companies, the pandemic isn’t slowing down venture capital funding.

Data from the latest MoneyTree report by PricewaterhouseCoopers/CB Insights shows that Maryland companies collectively received $358 million in venture capital funding for the second quarter of 2020, marking a big uptick in dollars over the prior quarter even amid a global pandemic and economic downturn.

Image: Looking up in Harbor East. (photo by Wikimedia Commons user Bohemian Baltimore, obtained under a Creative Commons license.)

“Today, we feel forgotten. Everyone believes we still won. The class of 2024 didn’t win. After calls and emails, we’re met with another unyielding reality: we can’t come to campus.”

These are the words of an open letter circulating among international students of the class of 2024 asking for Hopkins to advocate for them.

Last week, the Trump administration abruptly dropped its plans to ban international students taking online-only courses from residing in the U.S. Given that instruction at Hopkins will go fully online following Thanksgiving break, international students at Hopkins would not have been able to return to campus for any portion of the semester had the rule stayed in place. 

Image: CC BY-NC-SA 2.0 Most incoming international students will not be able to enter the United States this fall.

GAITHERSBURG, Md. and MORRISVILLE, N.C., July 23, 2020 /PRNewswire/ — Novavax, Inc. (NASDAQ: NVAX), a late-stage biotechnology company developing next-generation vaccines for serious infectious diseases, and FUJIFILM Diosynth Biotechnologies (FDB), a world leading contract development and manufacturing organization (CDMO) for biologics, viral vaccines and gene therapies, announced today an agreement to manufacture bulk drug substance for NVX-CoV2373, Novavax’ COVID-19 vaccine candidate. FDB’s site in Morrisville, North Carolina has begun production of the first batch of NVX-CoV2373.  

GAITHERSBURG, Md., July 22, 2020 (GLOBE NEWSWIRE) — Altimmune, Inc. (Nasdaq: ALT), a clinical-stage biopharmaceutical company, today announced that the Company has entered into an agreement with Vigene Biosciences (“Vigene”) to manufacture AdCOVIDTM, Altimmune’s single-dose intranasal vaccine candidate for COVID-19. Vigene, a Rockville, Maryland-based award-winning Contract Development and Manufacturing Organization (CDMO), specializes in viral vectors and will deploy its capabilities to manufacture AdCOVID. Following recent positive pre-clinical data, Altimmune plans to start a Phase 1 clinical trial of AdCOVID in Q4 2020.

“Vigene is a fantastic partner to advance AdCOVID into Phase 1 clinical testing and beyond,” said Dr. Vipin K. Garg, President and CEO of Altimmune. Dr. Garg continued, “We believe Vigene’s deep experience in viral vector production and their collaborative, client focused approach will help facilitate Altimmune’s timeline for clinical development of AdCOVID.”

Since May, the University System of Maryland has said that remote learning and in-person classes will return in the fall. It recently explained why it is sticking with that model.

“Opting for a hybrid model — combining in-person and remote learning — is, by no stretch, an easy out. It doesn’t save us money, it doesn’t save us time, it doesn’t save us planning. It’s a high-cost, high-effort undertaking,” Chancellor Jay A. Perman said in a statement.

However, it is choosing the model because he said there are students who need the campus environment.

Alexandria LaunchLabs™ in Maryland, will provide fully equipped, affordable laboratory/office space with flexible lease terms, supporting infrastructure, access to amenities, and supporting services and programming through the project’s consortium of world-class partners, including Alexandria Venture Investments, BioHealth Innovation, Montgomery County, and the City of Gaithersburg. This unique, startup environment will accelerate the growth of local early-stage life science companies.

TEDCO, Maryland’s state-backed agency that supports early-stage tech companies, has named Troy LeMaile-Stovall as its next CEO.

Lemaile-Stovall, who is currently COO of the University of the District of Columbia (UDC) and leads a management consulting firm, will start in the role on Sept. 7. He was introduced at a virtual press conference on Wednesday, where he spoke about leadership in a time that includes a pandemic, economic downturn and a nationwide push for racial justice. While we’re still in the midst of what could be long-term shifts taking place, he said he was “excited about how we move from economic development to economic empowerment for all of the citizens of Maryland.”

Image: Troy Lemaile-Stovall will begin as CEO of TEDCO in September. (Courtesy photo)

Vaccitech is a spinout company from the University of Oxford’s Jenner Institute, one of the oldest and most renowned vaccine research centers in the world.

You probably haven’t heard of them, but they are now working alongside AstraZeneca on a COVID-19 vaccine the World Health Organization believes is leading the race in creating an inoculation against SARS-CoV-02.

Data posted this month from just over 1,000 patients in a phase 1/2 trial showed it to be broadly effective in creating an immune response, though many questions remain and a series of bigger, late-stage tests is necessary to find those answers out.

Image: Bill Enright, Vaccitech CEO (Vaccitech)

ROCKVILLE, Md. and BEIJING, July 21, 2020 /PRNewswire/ — CASI Pharmaceuticals, Inc. (Nasdaq: CASI), a U.S. biopharmaceutical company focused on developing and commercializing innovative therapeutics and pharmaceutical products, today announced that it has commenced an underwritten public offering, subject to market and other conditions, to issue and sell shares of its common stock. In connection with the offering, CASI expects to grant the underwriters a 30-day option to purchase up to an additional 15% of the shares of common stock offered in the public offering. There can be no assurances as to whether or when the offering may be completed, or as to the actual size or terms of the offering. All of the shares of common stock in the offering will be sold by CASI.

Driven entrepreneurs and savvy startup leaders participated in the recent “Fueling an Innovation Ecosystem for Startups to Thrive” webinar that featured prominent connectors and innovators from the BioHealth Capital Region (BHCR). The virtual event was sponsored by WorkForce Genetics and covered a wide range of topics including the pandemic, critical regional resources for startups, advice for approaching investors and a list of the biggest mistakes made by entrepreneurs when seeking funding.