News Archive

TP Therapeutics, Inc., a clinical-stage biopharmaceutical company focusing on addressing oncology drug resistance, announced today that the company raised $45 million in a Series C financing round. The round was co-led by Lilly Asia Ventures (LAV), OrbiMed Advisors, LLC, and S.R. One, Limited, and joined by existing investors Cormorant Asset Management and SV Tech Ventures. In conjunction with the financing, Carl L. Gordon, Ph.D., CFA, General Partner at OrbiMed, Hongbo Lu, Ph.D., Partner at LAV, and Simeon J. George, M.D., Partner at S.R. One, joined the company’s Board of Directors.

Writing on trends, I frequently profile tech companies that use trends to outperform competitors. But using trends is not restricted to tech companies.

By following trends, since 1998 Alexandria Real Estate Equities has tripled the performance of the NASDAQ, quadrupled returns of the S&P 500, and quintupled the Russell 2000.  Alexandria has even outperformed technology stalwart Microsoft, and investment guru Berkshire Hathaway by 230%.

Now is the time to make certain your company and investors are prepared to apply for the Maryland Biotechnology Investor Incentive Tax Credit (BIITC) program. Investors can receive income tax credits equal to 50%* of eligible investments in Qualified Maryland Biotechnology Companies (QMBC). $12M in funding is available for these credits during the FY18 fiscal year.

Baltimore biotech firm, PathSensors, announced that its CEO, Ted Olsen, joined with other leaders of the Maryland Biohealth community in developing and issuing recommendations to grow Maryland’s biohealth industry and position the state as a globally recognized Top 3 U.S. BioHealth Innovation Hub by 2023.

RM Global has created a VC fund dedicated to the FutuRx biotech incubator Johnson & Johnson set up with OrbiMed and Takeda. The life science investment banking firm has secured preferential access to FutuRx, positioning it to get in on the ground floor alongside the companies that founded the incubator.

Silver Spring drugmaker United Therapeutics Corp. extended an exclusive license with drug giant Eli Lilly & Co. to cover its pulmonary hypertension drug Adcirca, which will lose part of its patent protection later this year.

More people are starting businesses out of opportunity than out of necessity; the percentage of immigrant entrepreneurs is at a two-decade high. However, new businesses are creating fewer jobs than they did a generation ago.

Johns Hopkins University President Ronald J. Daniels will co-chair the steering committee for a new statewide economic development strategy initiative focused on accelerating growth in the life sciences and cybersecurity industries in Maryland, Gov. Larry Hogan announced today.

Maryland’s governor is putting new economic development energy into creating life sciences and cybersecurity startups.

To kick off the Governor’s Business Summit in Baltimore this morning, Gov. Larry Hogan provided some details on Excel Maryland. It’s a new initiative that’s seeking to bring together government, university and the tech community to develop a new strategy to grow startups.