Biotechnology is one of the hottest areas in business and investing, so it might seem a bit counterintuitive that a new biotechnology firm just launched that won’t seek to make any profit. But the new nonprofit drugmaker seeks to do precisely that, in order to tackle some of the worst health crises in the developing world.
Eight US-based startups have been accepted onto the 2018 cohort of Trajectory Next, a second-stage accelerator run by Johns Hopkins University (JHU), University of Maryland, Baltimore (UMB) and incubator Betamore.
Perhaps it was inevitable that with Food and Drug Administration Commissioner Scott Gottlieb speaking before an auditorium full of biotechnology executives, a particularly contentious topic would come up: the new right-to-try law.
Lockheed Martin [LMT] on Wednesday said it has added another $100 million to its venture capital fund, doubling the firepower of Lockheed Martin Ventures for investments in early-stage companies that are developing advanced technologies.
Regulatory and competitive uncertainties in the marketplace lead many life sciences companies to enter into collaborative arrangements with other companies to develop new drugs or medical devices. These arrangements allow for the leverage of expertise that may not have been available in-house – such as a pharmaceutical company that sees promising new science from a biotech startup – while also sharing in the costs and risks of new product development.
Betamore, Johns Hopkins Technology Ventures and the University of Maryland, Baltimore have launched the first cohort of a new collaborative accelerator program, called Trajectory Next.
GlycoMimetics (NSDQ:GLYC) priced an underwritten public offering of 7,000,000 shares of common stock at $17.00 apiece today, reporting that it expects to bring in $119 million from the offering.
Emergent BioSolutions Inc. (NYSE:EBS) today announced the beginning of a $50 million expansion to the company’s Camden fill/finish facility located in Baltimore, Md. The multi-year expansion is expected to be completed in 2021, and will significantly increase the company’s contract development and manufacturing capacity, redundancy, and flexibility. This expansion is also anticipated to create up to 60 new jobs in the next three years.
The company will receive $75,000 in exchange for up to 10 percent equity, plus incubation space and a customized growth strategy.
Instem, a leading provider of IT solutions to the global life sciences market, is pleased to announce that Noble Life Sciences, Inc. (Noble) has purchased a comprehensive package of preclinical software solutions, including Provantis®, the market leading preclinical data management system.
