News

Biopharmaceutical company Kite Pharma will expand its footprint in Frederick County with a new warehouse that will bring 100 new jobs to the area, the company announced Tuesday.

Kite, a Los Angeles-based subsidiary of Gilead Sciences (NASDAQ: GILD), will build an approximately 70,000-square-foot raw materials warehouse to support its global cell therapy manufacturing network. The company’s CAR T-cell therapy uses a person’s own immune system to recognize, attack and destroy certain types of cancer with a one-time, individualized treatment.

Today, College Park, Maryland quantum leader IonQ announced its first-ever acquisition.

The DMV company acquired the operating assets of Entangled Networks, a Toronto, Canada-based startup founded in 2021. Entangled Networks specialized in enabling computing for multiple quantum processors, including those that are distributed. Through the deal, the Entangled team will become the staff of IonQ Canada, the quantum pioneer’s first outpost in the country.

Image: IonQ’s Kai Hudek in the lab. (Courtesy photo)

To kick off the new year, The Galien Foundation is delighted to share with you highlights from the 2022 Prix Galien Awards Ceremony and recognize the incredible achievements of the Medalists  of the Prix Galien Golden Jubilee and the Prix Galien USA.

Kite , a global biopharmaceutical company, is adding 100 new jobs and expanding its cell therapy manufacturing operations in Frederick County.

A Gilead company, Kite is planning to construct a 70,000 square-foot warehouse adjacent to its current facility in the Urbana Corporate Center, which will help expand its global manufacturing network. The company originally announced its entry into Maryland back in 2019 , helping form the largest dedicated in-house cell therapy manufacturing network in the world. The company expects to employ more than 500 full-time staff between its two facilities by the end of 2026.

Linshom Medical raising $3M series A to launch respiratory monitor

Ellicott City startup Linshom Medical is looking to raise a $3 million round as it works to develop a medical device that catches the warning signs of a respiratory crisis.

CEO Richard Hughen plans to use the series A raise, as well as a $2.4 million grant from the National Institutes of Health, to fund a study to prove the company’s respiratory monitor is effective at detecting breathing issues. The company previously raised $1.5 million in convertible notes. Linshom has raised $1 million of its $3 million series A goal so far, with support from the Maryland Momentum Fund, the Maryland Technology Development Corp. and other investors.

Once the studies are complete, the three-person company is planning to do a soft launch in a few hospital systems late this year.

· Global biopharmaceutical company focusing on metabolic and digestive diseases

· Proceeds to fund clinical and business development

ROCKVILLE, MD and SHENZHEN, CHINA,January 5, 2023— HighTide Therapeutics Inc. (“HighTide”), a globally integrated clinical-stage biopharmaceutical company developing novel multifunctional therapies for metabolic and digestive diseases, today announced the closing of a $107 million Series C/C+ financing led by the TCM Healthcare Fund of Guangdong, managed by China Development Bank Capital. Other investors included Yuexiu Fund and Yuthai Fund.

On September 30, 2022, the SBIR and STTR Extension Act of 2022 (the Act) was enacted, reauthorizing the SBIR and STTR programs until September 30, 2025. The Act makes several significant changes related to national security risks and foreign influence in the programs. The changes include agency implementation of due diligence procedures, new offeror disclosure and ongoing contractor reporting requirements, and new award eligibility requirements, with an offeror’s or contractor’s omissions or misstatements resulting in repayment of the entire award amount, among other changes to the programs.

WALTHAM, Mass., Jan. 09, 2023 (GLOBE NEWSWIRE) — CinCor Pharma, Inc. (NASDAQ: CINC) today announced that it has entered into a definitive agreement with AstraZeneca under which AstraZeneca has agreed to acquire CinCor.

Marc de Garidel, Chief Executive Officer at CinCor, said: “We are excited about the proposed acquisition of CinCor Pharma by AstraZeneca as we believe it offers the prospect of accelerating the development timeline and expanding the breadth of benefits patients with cardiorenal diseases might obtain from baxdrostat, if approved. CinCor is committed to ensuring a smooth transition of the development responsibilities to AstraZeneca once the acquisition is consummated. Thank you to all who have played, and will continue to play, essential roles in developing and evaluating baxdrostat as a potential novel treatment for cardiorenal diseases.”

Today we announced an agreement to acquire CinCor Pharma, Inc., a US-based clinical-stage biopharmaceutical company, focused on developing novel treatments for resistant and uncontrolled hypertension.

The acquisition will strengthen our cardiorenal pipeline, where there is a high unmet medical need.

This acquisition is expected to close in first quarter of 2023, subject to regulatory approvals and other customary closing conditions. Additional important information can be found here: https://know.az/3IvkzkQ