The Swiss pharmaceutical giant Roche said on Monday that it would acquire a majority stake in the tumor-testing company Foundation Medicine for more than $1 billion, in a deal aimed at improving both cancer treatment and drug development.
Foundation is the leader in the growing area of sequencing the genes of tumor samples, looking for mutations that can help predict which drug will be most effective for a particular patient.
Roche, the world’s largest maker of cancer drugs, is spending $1.03 billion to buy a 56.3% stake in Cambridge, Mass.-based Foundation Medicine, a company that uses genetics to help select drugs for cancer patients. Roche, based in Basel, Switzerland, will also market Foundation’s diagnostic tests outside the U.S., help educate doctors as to the value of the tests in the U.S., and provide another $150 million to support additional research on Foundation’s products.
The most significant announcement that Apple made in 2014 wasn’t a larger-sized iPhone. It was that Apple is entering the health-care industry. With HealthKit, it is building an iTunes-like platform for health; Apple Watch is its first medical device. Apple is, however, two steps behind Google, IBM and hundreds of startups. They realized much earlier that medicine is becoming an information technology and that the trillion-dollar health-care market is ripe for disruption.
The Tech Council of Maryland plans to outline its legislative priorities Monday as state lawmakers head to Annapolis next week, but lobbyists will have to contend with a new governor and constrained budget as they push their agenda.
Balitmore’s PathSensors Inc. has received $500,000 from a Chinese investor to expand the bioscience company’s footprint in China.
The private investor, Michael Song, is president of Shanghai Qi Fa Electronics Co. Ltd. in China. The money will allow PathSensors to grow sales of its surface and airborne detection systems in China. Funding will also go toward market expansion in the U.S.
Greater Baltimore Committee wants legislators to establish a state tax credit for angel investors who support early-stage companies.
Legislation to create the tax credit will be a top priority for the business advocacy group during the upcoming General Assembly session. The organization will also push for programs to create more on-the-job training opportunities for students. Priorities also include strengthening science and technology education in grade school and securing funding for transportation infrastructure.
Rockville-based contract research firm Optimal Research announced it will begin clinical trials this month for the Johnson & Johnson (NYSE: JNJ) Ebola vaccine, considered one of the frontrunners in the race to address the Ebola crisis.
Optimal Research Chief Operating Officer E.B. McLindon said Friday the company is seeking individuals to participate in a Phase I Clinical trial for the vaccine. The company plans to administer the vaccine to 92 healthy volunteers in January and February to determine its safety.
US-based biotechnology firm Tetragenetics will enter into collaboration with AstraZeneca’s global biologics research and development arm MedImmune, on multi-target ion channel drug discovery program.
The need to improve and increase research into dementia and other neurodegenerative diseases is widely recognised. In 2012, Prime Minister David Cameron launched his “Challenge on Dementia” and since then a number of initiatives have been announced which mean that the UK is a world-leader in this area. MedImmune, the biologics research and development arm of AstraZeneca, has built a team of neuroscientists focusing on neurodegenerative research and is deeply involved and committed to its work to discover and develop novel treatments for dementia.
Wednesday January 28, 2015 from 5:00 PM to 7:00 PM EST
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