BioHealth Innovation, Inc. (BHI), a regional private-public partnership focusing on commercializing market-relevant biohealth innovations and increasing access to early-stage funding in Central Maryland, announced today the launch of its Commercial Relevance Program (CRP). BHI’s CRP is designed to help life science companies navigate the complicated process of preparing applications for federal funding, inclusive of Small Business Innovation Research (SBIR), Small Business Technology Transfer (STTR), and other federal government awards.
“The federal grant application process can be very complex. Based on 2012 data released by the National Institutes of Health (NIH), Maryland ranks 32nd out of 50 states with regard to SBIR award success rates. We would like to improve on this – and are confident that the CRP will help companies be more successful with their submissions,” said Ethan Byler, Director, Innovation Programs, BioHealth Innovation, Inc.
“At the end of the day, it’s about helping Central Maryland companies to get the best results possible as they seek out federal grant awards as a means of non-dilutive funding,” he added.
The CRP incorporates a pre-proposal review by knowledgeable BHI staff and advisors prior to a life science company’s submission of a full proposal. Through this review process, applicants will receive a set of recommendations and tips for troubleshooting their proposal for federal funding.
Interested life science companies in Central Maryland should contact BHI today for more information. The following federal agency SBIR/STTR deadlines are fast approaching:
About BioHealth Innovation, Inc. BioHealth Innovation, Inc., is a regional innovation intermediary focused on commercializing market-relevant bio-health innovations and increasing access to early-stage funding in Maryland. Learn more at www.biohealthinnovation.org.
Congratulations to Elaine Amir! Elaine, executive director of the Montgomery County Campus of Johns Hopkins University, was named to The Daily Record’s 2013 list of Maryland’s Top 100 Women.
The announcement brought kudos from JHU interim provost Jonathan Bagger.
BioMed Realty Adds 1.6 Million Square Foot Portfolio & Expands University / Research Institution Segment to 18% of Annualized Base Rents
BioMed Realty Trust, Inc. (NYSE: BMR) announced today that it has entered into a definitive agreement to merge with Wexford Science & Technology, LLC, a subsidiary of Wexford Equities, LLC, furthering BioMed Realty’s position as the leading provider of real estate to the life science industry. Wexford Science & Technology is a private real estate investment and development company that owns and develops institutional quality life science real estate for academic and medical research organizations, and that boasts well-regarded skills for urban development and redevelopment of life science real estate. The aggregate consideration for Wexford Science & Technology is approximately $640 million, excluding transaction costs and subject to adjustment based on working capital levels and construction and development costs incurred prior to closing. Wexford Science & Technology will operate as a wholly owned subsidiary of BioMed Realty.
The Maryland Venture Fund has awarded $300,000 to Adlyfe, a Rockville diagnostic test developer, as part of the state’s InvestMaryland program.
Adlyfe, which is developing an early detection test for Alzheimer’s disease, is also receiving a $200,000 grant from the Maryland Biotechnology Center.
Emergent BioSolutions, Inc., a global specialty pharmaceutical company, is generating fresh ideas from Michigan State University students at its Lansing location to improve operations.
Emergent BioSolutions, the Roscommon-based Lear Corp., the Saginaw-based Mistequay Group, Ltd. and approximately five other companies hosted more than 20 undergraduate and graduate business and engineering students on various projects. The initiative is the brainchild of Bill Demmer, the CEO of the Lansing-based Demmer Corp., who donated $5 million to the university to create the Marnie Demmer Center for Business Transformation in late 2011, MLive.com reports.
Sure, New Enterprise Associates is much, much bigger than most venture capital firms. And not all of their deals fall neatly into what we think of as traditional Series A-B-C venture.
NEA invests in private hospital systems in China. It does the occasional PIPE deal. It does big-ticket “growth” fundings that look a whole hell of a lot like private equity.
But NEA is definitely not a private equity firm, as it is here described in The Wall Street Journal.
Two announcements on Monday and Thursday of last week signaled a fundamental strategic and physical shift for biopharma giant AstraZeneca, including the establishment of a new corporate headquarters in a new UK location; the shift of small molecule and biologics R&D to three strategic centers around the world; and an eventual overall headcount reduction of 5,050 between now and the end of 2016.
On Monday, March 18, the company announced its intent to focus the R&D in three places, and to fully implement these plans by 2016:
As the CEO of Pulse8, John Criswell works with health insurance exchanges and long-term care facilities on big data and analytics, which gives him a purview into the back-end integration required for states and the federal government to setup HIXs. Yet, he’s optimistic that the gvoernment will meet the October 1, 2013 deadline.
Government Health IT Editor Tom Sullivan spoke with Criswell about the complexity of standing up HIXs, how the exchanges might fare come October, and the overarching opportunities that both HIX and health information exchanges will create as they amass mammoth data sets.
Monday, April 15th 5:30 – 8:30 p.m. at MICA’s Brown Center
After months of submitting business plans, scoring applications, developing special awards and partnering with us, it’s time to celebrate entrepreneurship! Please join us April 15th at Maryland Institute College of Art’s Brown Center as we announce the top three $100K winners.
Tech entrepreneurs will soon find a new home at Innovation Crossroads, the Eastern Shore’s first, full-service business incubator.
Gov. Martin O’Malley and the department of public works recently approved $1.2 million in funding from the Maryland Department of Business and Economic Development for construction of the incubator, the Dorchester County Council announced on Tuesday.
Innovation Crossroads is the planned anchor tenant of the newly constructed Cambridge-based Regional Technology Park.
“Transformation” is the best description of what is happening in health care right now. We are seeing historic changes in how health care is administered in the United States—with increased focus on quality of care versus just paying for a service. We are seeing changes in how people can enroll in health insurance—with the upcoming establishment of a new market place that will help more people get insured in this country than ever before. And, we are seeing changes in how people understand and make decisions about their own health—with an increasing number of tools and services becoming available to help individuals access health information and manage their own personal health data.
The Congressional hearings debating the regulatory framework for mobile health devices and apps made me think about how we view mobile health apps and the criteria we use to determine what makes some better than others.
And as we all think in terms of the NCAA college basketball tournament around this time, I thought we would do a mini tournament using mobile health apps.
As we come to the close of Q1 of 2013, LSN has compiled some insight into three of the hottest subsectors being targeted by investors in the medical technology space. New technologies are surfacing that are changing treatment philosophies, and more importantly, medtech is attracting a whole new class of investors such as corporate venture from the consumer electronics, digital media, and telecom space. Here are the three trend areas that are changing the world from the medtech investor perspective:
This the title [paraphrased] of a keynote given last week by Jonathon Bush, the CEO of AthenaHealth, at the Xconomy Mobile Madness conference in Cambridge, Ma. What follows are my notes from the speech. The ideas are Jonathon’s. I really like what he’s saying and mostly agree, and he puts it very well.
AthenaHealth’s base business is medical practice billing in the cloud. This is an example of technology-enabled transformation of the health care business system, which we believe will be a big opportunity for entrepreneurs going forward. Founded in 1997, AthenaHealth is now a successful public company (ATHN).*
A week after the Congressional hearings discussed how the US Food and Drug Administration’s impending regulatory guidelines (expected by October) will impact mobile health apps, aspiring and current digital health entrepreneurs may be rethinking their path. In a report dubbed “FDA 101,” health startup accelerator Rock Health has compiled a handy report to help digital health entrepreneurs assess whether their mobile health apps would be classified as medical devices by the FDA and require 510(k) clearance.
Some of the pressure to clear the waters has come from technology developments that have simply outpaced the regulatory environment. Another is that provisions of health care reform call for making greater use ofremote monitoring, to reduce healthcare costs. Providers are pretty keen to reduce costs where they can as well. Remote monitoring would be particularly helpful when it comes to patients with chronic conditions, such as congestive heart failure or diabetes or both, so they can have shorter hospital stays and care managers can be alerted for any changes in their vital signs.
President Barack Obama’s top healthcare adviser acknowledged on Tuesday that costs could rise in the individual health insurance market, particularly for men and younger people, because of the landmark 2010 healthcare restructuring due to take effect next year.
U.S. Health and Human Services Secretary Kathleen Sebelius said definitive data on costs will not be available until later this year when private health plans become authorized to sell federally subsidized coverage on new state-based online marketplaces, known as exchanges.
Many of the changes in the healthcare industry outlined by the Affordable Care Act and HITECH Act call for shifting to healthcare IT for helping physician practices run more efficiently to helping guide clinical outcomes. But the shift from paper based to digital records isn’t just happening among providers. It is carrying over into other industries that healthcare intersects such as pharmaceuticals, medical devices and more robust collaborations with payers.
Andrew Khouri of Quaker Partners, who also mentors Blueprint Health accelerator companies, highlighted some needs in healthcare that are creating interesting investment opportunities and some investment trends at a recent event at the University City Science Center. Khouri acknowledged the “industry is in turmoil” because there’s uncertainty about how the changes will work in practice from the transformation of payment models to setting up health insurance exchanges. But there’s so much momentum to reduce costs and improve outcomes that there is a lot of opportunity.
The Series A crunch has left the realm of Bigfoot and Nessie and is entering the realm of truth, at least according to Fenwick & West.
The law firm released the results of its 2012 Seed Financing Survey today, which found that the number of startups obtaining Series A financing after a seed round declined significantly in 2012.
As expected, the third and final (for now, at least) congressional hearing focused on the FDA’s regulation of mobile medical apps was the only one that provided new information for those already well-versed in mobile health. While the past two days of testimonies likely helped members of Congress better understand the concerns of those working or lobbying for the healthcare and technology industries, those testimonies did not reveal anything new about what was actually going on at the FDA.
This morning the FDA’s Christy Foreman, who serves as the Director of the Office of Device Evaluation at the Center for Devices and Radiological Health, shared a number of insights about mobile medical app regulation that before today had not been revealed. Here are five things we learned from the FDA’s testimony during the congressional hearing today:
Why not explore what’s to gain from crowdfunding when there’s nothing to lose? MedStartr’s co-founder and CEO Alex Fair explains.
Alex Fair, Co-Founder & CEO of MedStartr Thinking about joining the crowd? We know, your mother probably told you not to get mixed up with the wrong kind. But according to MedStartr’s Alex Fair, there’s a lot right with the mob mentality growing among today’s entrepreneurs; crowd communities are creating equitable springboards for promising startups. That’s right, we’re talking about crowdfunding. After all, there is strength in numbers— especially from those that come with dollar signs.
No action is good action. At least for online investment platform the Funders Club that today received a ‘no-action letter’ from the SEC stating that it will not recommend enforcement action.
The letter is a green light for the FundersClub and validation that its investment model is legal. The news is significant for the venture capital and finance industries, as well as startups looking for more flexible methods of fundraising.
BioHealth Innovation (BHI) is a regionally-oriented, private-public partnership functioning as an innovation intermediary focused on commercializing market-relevant biohealth innovations and increasing access to early-stage funding in Maryland.
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