News Archive

Emergent BioSolutions of Gaithersburg has won approval from the U.S. Food and Drug Administration for its hemophilia drug Ixinity.

The treatment, administered intravenously, helps control and prevent bleeding episodes and also is approved for use during surgery in adults and children 12 and older with hemophilia B, according to a company news release. Hemophilia B is a bleeding disorder caused by a mutation on the factor IX gene resulting in a deficiency of clotting factor IX in the blood, which controls bleeding.

On Tuesday, the Senate Health committee held a hearing on the promise of precision medicine. Last week, the House released draft legislation to support biomedical innovation. And following President Obama’s State of the Union in January, the White House unveiled the Precision Medicine Initiative, meant to provide funding to accelerate biomedical research.

What none of these things do directly is to curb the price of speciality drugs—including precision drugs—which cost Americans more than $80 billion in 2013, according to the Campaign for Sustainable Rx Pricing.

The Montgomery County Business Hall of Fame will add four new members later this year, including a former space issues attorney turned health company CEO, a bank chairman, a barbecue expert and the chief executive of a hospital.

The following people have been named to the business hall of fame and are scheduled to be honored at an Oct. 27 event:

Photo Credit: Fortune Live Media – Flickr

Drug testing on humans and animals will be a thing of the past within two decades, United Therapeutics CEO Martine Rothblatt said Monday.

Soon, companies will test pharmaceuticals on silicon versions of the human body, entering drugs as code, she said.

Photo Credit: Fortune Live Media – Flickr

The advent of connected devices and M2M is offering a tremendous opportunity for healthcare professionals. Near-ubiquitous mobile networks are allowing carers to diagnose, monitor, and communicate with patients with unprecedented speed and efficacy.

Every venture firm’s looking for many multiples when it comes to returns – but in reality, they expect things to shake out a little differently. Seth DeGroot, a managing partner at boutique Minneapolis investment firm Brightstone Venture Capital, spoke on what the firm’s expectations in potential investment targets – and how startups can avoid pesky problems like, say, overinflated valuations.

NextGen Angels recently announced plans to bring its brand of under-40, entrepreneur-friendly angel investors to 12 more U.S. cities, with plans for international expansion down the line.

I caught up with CEO Dan Mindus, who founded the group in 2012, about both the expansion and the venture market in the Greater Washington area. Based on our conversation, there are two important things about the local funding market that every entrepreneur should probably know:

Gaithersburg-based molecular diagnostics company OpGen Inc. went public Tuesday, and saw its shares drop more than 20 percent during the day before closing at $4.85, down nearly 19 percent.

CEO Evan Jones said he’s not concerned. In the world of biotech, making money can take time.

Each time 81-year-old Bill Dworsky or his 80-year-old wife Dorothy opens the refrigerator, closes the bathroom door or lifts the lid on a pill container, tiny sensors in their San Francisco home make notes on a digital logbook.

The couple’s 53-year-old son, Phil, checks it daily on his smartphone. If there’s no activity during a designated time, the younger Dworsky gets an automated email, so he can decide whether to call or stop by. “This is peace of mind, really,” he says of the system he installed last year.

Dr. Patrick Soon-Shiong has some big ideas in healthcare, like a vision of a fully connected ecosystem that truly empowers patients to make informed choices about their own care, aided by supercomputers to crunch all the data, including highly complex genomic information. And he’s not afraid to toot his own horn every once in a while.

“We’ve created the Google of genome mapping,” Soon-Shiong, the multibillionaire entrepreneur behind the still-somewhat-mysterious NantHealth and parent company NantWorks, said Monday at the American Telemedicine Association annual meeting in Los Angeles.