News Archive

Cambridge, Massachusetts-based Mersana Therapeutics Inc, a provider of Fleximer antibody-drug conjugate technology, has secured $35 million in Series B-1 financing. New Enterprise Associates led the round with participation from Rock Springs Capital Management, Elliott Sigal, former head of R&D at Bristol-Myers Squibb, Pfizer Venture Investments and Fidelity Biosciences. Also, Mersana has appointed Anna Protopapas as president and CEO. And, Protopapas and Dr. Elaine V. Jones, executive director of Pfizer Venture Investments, have been added to Mersana’s board of directors.

Sen. Barbara A. Mikulski, the Maryland Democrat who is the longest-serving woman in congressional history, will depart Capitol Hill the way she arrived — with a sharp tongue, an unabashed liberalism and a mission to make the Senate a place where women belong.

Mikulski surprised many colleagues Monday with her announcement that she will leave the Senate next year after five terms. In good health at 78, the senator said she wants to shift her focus: “Do I spend my time raising money? Or do I spend my time raising hell?”

On Feb. 19, the U.S. Food and Drug Administration took a huge step towards patient-centric medicine when it approved the marketing of genetics testing company 23andMe’s carrier test for Bloom Syndrome. This was a startling — and good — development because it affirmed the rights of consumers to drive their own health-care decisions and procedures. But it also means that it has become urgent to develop policies to regulate the rights of companies to resell data derived from the contents of our DNA and from our medical records.

There’s been a flurry of news related to telemedicine this week, with several notable developments in Mississippi and Silicon Valley.

One of the more interesting aspects of telemedicine is that much of the innovation and focus of late has come from startups and vendors, while health systems have shown a bit of reluctance to deploy it on their own.

U.S. Small Business Administration leader Maria Contreras-Sweet drew parallels Friday between Baltimore and the rust-belt city of Detroit — but she actually meant it in a positive way.

Contreras-Sweet, the SBA’s administrator, was in Baltimore and took questions about the administration’s work in the city and its overall direction. Baltimore has many highly skilled workers who can pivot to new startup businesses, much like Detroit has automobile-industry employees who can put their expertise to work elsewhere, she said.

As the landscape of the biopharmaceutical industry expands into growing regions, an exciting transformation is beginning to transfer commercialization “recipes” to emerging markets. All eyes are on small, specialty, and midsize players emerging at the forefront of innovation in the mature regions of Europe and the United States.

At the global level, the BRICK countries of Brazil, Russia, India, China, and Korea are aggressively investing in R&D, facilities, and scientist training, and vying for bigger roles not only as markets for medicines, but also as rich breeding grounds for R&D and manufacturing.

California-based companies received about 56 percent of all U.S. venture capital dollars in 2014, the state’s highest share of venture activity since the dot com boom of the early 2000s. Over the past 15 years, investment activity has steadily become more concentrated in California and a few other states. In 2009, about 67 percent of all deals and 74 percent of venture capital dollars flowed to the top five states. By 2014, those states’ share of venture dollars grew to 80 percent, according to NVCA/Pricewaterhouse Coopers data. A recent Harvard Business Review article, however, suggests that startups are receiving first-round funding in more metropolitan areas than ever.

Paul Palmieri thinks Maryland’s entrepreneurs and innovators need a boost — especially after supporters of a state angel investor tax credit turned out in force to a Senate hearing Wednesday and faced some tough questions.

“We need to, as much as possible, support new entrepreneurs,” said Palmieri, the founder and former CEO of Millennial Media who’s now venture adviser at Chevy Chase-based New Enterprise Associates Inc. and an angel investor.

A coalition of 13 leading life science and diagnostics organizations today announced the formation of the Allele Frequency Community, a landmark initiative that is creating an extensive, high-quality and ethnically diverse collection of human genomes to address a key challenge in interpreting sequencing data for research and clinical applications. The announcement coincides with the start of the 16th annual Advances in Genome Biology and Technology (AGBT) scientific meeting in Marco Island, Florida.

Signing a deal can seal your fate. An exit for your investors may mean the end of your dream. What if you decided to forego the exit route, leapfrog to an IPO, and use commercial partnerships to fuel your scale-up into a fully integrated biopharma company? For an example in progress, look at Sucampo — a still-small company with two FDAapproved products, many more in the pipeline, a healthy balance sheet, and a commitment to maintain its long-term independence.