News Archive

The Pentagon today awarded its years-in-the-making multibillion contract to upgrade its electronic health records system, to defense IT firm Leidos, which partnered with electronic health record vendor Cerner and Accenture Federal.

The Defense Healthcare Management Systems Modernization contract’s base value is $4.3 billion over 10 years, with an expected 18-year lifecycle value of $9 billion, and will put Leidos in charge of building a next-generation health records system responsible for DOD’s 9.6 million beneficiaries.

Developing lab research into the foundations of a profitable biotech company has always been a high-risk, high-reward business.

Deerfield Management, a New York-based healthcare investor with more than $5 billion under management and two decades of experience, has created a new $550 million fund that targets early stage science from academic medical centers and hospitals. The fund is specifically focused on innovative treatments for genetic disorders, cancer, and orphan diseases.

Event is open to Post-Docs & Professional Scientists currently work in the Therapeutic Areas of:

• Oncology
• Respiratory, Inflammation & Autoimmunity
• Cardiovascular & Metabolic Diseases
• Infectious Diseases & Vaccines
• Related scientific disciplines

Business roles who support the groups above should also register!

Event will include music, lawn games, hors d’oeuvres, and drinks

A recent Kauffman Foundation study found that year-over-year startup activity in the U.S. increased in 2015 for the first time in five years and showed the largest increase in more than 20 years. This is particularly good news from an employment perspective because new firms create the vast majority of net new jobs. And, fortunately for the Greater Baltimore market, Maryland is recognized as a leader in innovation. When compared to other Northeast Corridor metros, Greater Baltimore has historically had a greater startup rate than Boston and Philadelphia.

Maryland Technology Development Corp.’s new board chair, Newt Fowler, is stepping in as the investment agency’s responsibility grows five-fold.

TEDCO this year will take over disparate investment programs from Maryland’s Department of Business and Economic Development, most notably the state’s Maryland Venture Fund. All told, the shift will put an additional $100 million under TEDCO’s management beginning Oct. 1.

Silver Spring-based United Therapeutics’ quarterly sales got a boost from its newest treatment for pulmonary arterial hypertension, while higher research and development costs, and a bigger payroll, dragged down the bottom line.

United Therapeutics had second quarter revenue of $347.2 million, up 7.5 percent from $322.8 million in revenue in the same quarter a year earlier. Net income was $99.2 million, or $1.91 per share, compared to net income of $111.9 million, or $2.10 per share a year ago.

The term ‘translational sciences’ means different things to different people. For MedImmune, the global biologics research and development arm of AstraZeneca, the term refers to our expertise in accelerating drug development through the careful selection of the right patients in early clinical trials. As recently shared by Dr. Bahija Jallal, Executive Vice President, AstraZenenca, and Head of MedImmune at the recent ‘ON Helix’ translational research conference hosted by One Nucleus, translational science is a mind-set that’s embedded throughout MedImmune.

Newt Fowler, a longtime advisor and business planner for Baltimore entrepreneurs and investors, has been named chair of the Maryland Technology Development Corp.

Fowler, a business transactions partner with Baltimore’s Womble Carlyle LLP, is among four officers elected by the 15-member board of directors.

The federal government is attempting to ensure that doctors don’t inadvertently compromise patient data when they use smartphones to access electronic health records. 

The National Institutes of Standards in Technology this week released a step-by-step guide for hospitals and IT professionals, listing ways to secure the connection between devices and electronic health records.

The shift from fully integrated pharmaceutical companies (FIPCOs) to virtually integrated pharma companies (VIPCOs) has made biopharmas more reliant on external R&D. Often, that external R&D comes from startups nurtured through the venture funds of biopharma giants.

This year’s List offers three significant changes since last year’s ranking of corporate venture funds. One is the exclusion of Novo Ventures and Novo Seeds from the list, since the funds do not invest for the benefit for Novo Nordisk, but for its holding company Novo A/S.