44th Edition – May 14, 2013

Venture capital to local companies on the rise -Gazette.Net

Local businesses have seen needed venture capital and loans in greater abundance in recent months.

The amount of venture capital investment funneled to Montgomery County and Washington-area companies in 2013’s first quarter jumped by 30 percent from the same period a year ago, according to a recent report.

The $286.3 million invested in local companies in the first three months was the most in the quarter in five years, according to the report from PricewaterhouseCoopers LLP and the National Venture Capital Association, based on data by Thomson Reuters.

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Small State, Big Ideas — Maryland Is for Inventors

It’s true that, geographically speaking, Maryland is a small state. But as the old saying goes, “Good things come in small packages,” and that is especially true when it comes to the resources, advice and technical expertise that Maryland offers inventors and technology entrepreneurs.

From university laboratories and research centers (such as The Johns Hopkins Applied Physics Laboratory, University of Maryland’s Office of Technology Commercialization or University of Maryland – Baltimore City’s ACTiVATE) to state organizations (Maryland Biotechnology Center or the Department of Business and Economic Development), a wide variety of entities are working to help entrepreneurs develop and market their inventions.

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Rockville-based Human Genome Sciences gets approval for new lupus drug – Maryland Daily Record

Benlysta, a drug to treat lupus, has received approval from European regulators to be marketed in Europe, the drug’s co-makers, Human Genome Sciences Inc. of Rockville, and GlaxoSmithKline, its London-based parent, announced.

The European approval came two days after Benlysta, the first new treatment developed for lupus in 50 years, was approved for use in Canada.

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University of Maryland School of Medicine sets $500M fundraising goal – Baltimore Business Journal

The University of Maryland School of Medicine is launching a $500 million fundraising campaign, the largest in the school’s history.

The school plans to officially launch the capital campaign, “Transforming Medicine Beyond Imagination,” at its annual gala May 11. The event is considered a critical fundraiser for the school’s research and clinical programs.

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Pluristem and United Therapeutics Enter Into an Exclusive License Agreement to Develop and Commercialize PLX Cells for the Treatment of Pulmonary Hypertension – Business – Press Releases | NBC News

Pluristem Therapeutics Inc. (Nasdaq:PSTI) (TASE:PLTR) today announced that its wholly owned subsidiary, Pluristem Ltd., has entered into an exclusive out-license agreement with United Therapeutics Corporation (Nasdaq:UTHR) for the use of Pluristem’s PLacental eXpanded (PLX) cells to develop and commercialize a cell-based product for the treatment of Pulmonary Hypertension (PH).

Under the terms of the agreement, United Therapeutics will receive exclusive worldwide licensing rights for the development and commercialization of the future product for treating PH patients. Pluristem will retain all manufacturing rights; participate in the pre-clinical and clinical trial activities, as well as provide the commercial grade product.

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Johns Hopkins vice dean to advise NIH on research topics – Baltimore Business Journal

A Johns Hopkins University faculty member will be helping advise the National Institutes of Health about research topics with the most promise for addressing public health challenges.

Janice E. Clements, vice dean for faculty at the Johns Hopkins University School of Medicine, has been selected to serve on the Council of Councils for NIH. Clements was among 10 individuals newly selected to serve on the 27-member council. Her term ends in October 2015.

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GlaxoSmithKline unveils drug trial data-sharing portal – Information Age

UK pharmaceuticals giant GlaxoSmithKline has unveiled an “open innovation” platform through which it will publish data from its clinical trials online so it can be analysed by external researchers.

The online system allows scientists to submit a to request access anonymised drug trial data. Each request will be judged a panel of external experts appointed by GSK, and applicants must agree to publish their own findings.

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2013 NFTE Baltimore Regional City Wide Business Plan Competition – May 23rd

Thursday, May 23rd at 5:00 p.m.

Join NFTE Baltimore as an honored guest at out Regional City Wide Business Plan Competition. The top size finalists will present and defend their business plans before a prestigious panel of judges and an audience of top buiness and school leaders. The networking reception will include a Student Showcase and we will also honor NFTE’s biggest supporters of youth entrepreneurship.

University of Baltimore
William T. Thumel Sr. Business Center
11 West Mount Royal Avenue

Seating is limited RSVP here by May 20th.

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Employee Incentive Compensation Workshop: Powerful but Underutilized Tools for Navigating the Challenging Times Ahead – Aronson LLC

May 15, 2013 8:00am – 10:00am
Tower Club, Tysons Corner

Attracting and retaining key employees is a challenge every business faces, and government contractors know that a valuable contract can hinge on making the right staffing choices. Savvy government contractors also recognize the necessity to maximize human capital within the constraints of sequestration, continuing resolution and lowest price technically acceptable contracts.

You’re invited to this breakfast workshop to learn about powerful employee incentive compensation strategies that can provide significant competitive advantages for your business. These often underutilized plans can attract top quality employees through cash, equity and other equity-linked compensation methods. In addition to creating great work environments, innovative incentive plans allow government contractors to be successful amidst the current era of regulatory challenges.

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Grotech Ventures closes $225M fund – Baltimore Business Journal

Venture capital firm Grotech Ventures has raised $225 million that it plans to invest in early-stage technology companies.

The $225 million round, called Grotech Ventures II, is the firm’s eight fund. The firm had originally planned to raise $220 million but expanded to include new investors, said Grotech Managing General Partner and Founder Frank Adams.

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Governor Martin O’Malley Unveils Data.Maryland.gov – Governor O’Malley’s Blog

Governor Martin O’Malley today officially launched data.maryland.gov – Maryland’s first statewide open data portal that will provide researchers, entrepreneurs, public servants and citizens with a wide variety of data to support transparency and innovation in government. Data such as vendor payments, vehicle accidents, licensed veterinary clinics, GIS mapping data, and per capita electricity consumption will all be made available and housed in a central place for the public.

The Governor made this announcement at a panel discussion hosted in conjunction with the Future of Information Alliance (FIA) – a transdisciplinary partnership between the University of Maryland, College Park and 10 founding partners. The panel featured “futurists” and over 120 students, entrepreneurs and public servants who spoke about the importance of big data to better serve and inform the public.

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Healthcare entrepreneurs, these 4 digital health accelerators are looking for applicants – MedCity News

As the provisions of the Affordable Care Act and HITECH Act are rolled out, providers and payers are looking for ways to address pain points varying from improving patient engagement and remote monitoring to helping consumers better understand their insurance options to making better use of patient information in the context of big data.

Some accelerators are helping members of the healthcare ecosystem and entrepreneurs find each other. These four healthcare accelerators are currently looking for applicants.

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Is an Office of mHealth the best thing about the bill creating an Office of mHealth? – MedCity News

Version 2.0 of a plan to create an Office of mHealth in the U.S. Food and Drug Administration should be out soon. The office of U.S. Rep. Mike Honda, Silicon Valley’s Democratic Congressman who authored the legislation, said the next draft will at the least fine-tune the way the office would work with other federal agencies.

But is the big-ticket item – a new office dedicated to adding more context and understanding of mHealth within the federal agency – the most interesting thing about the bill? I don’t think so. Read through the details and see if you agree.

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Health IT Accelerator Launching at University City Science Center

The University City Science Center is collaborating with the Canadian Consulate General to pilot a business accelerator for health information and communication technology companies from Canada.

Opening on May 13, 2013, the Canadian Technology Accelerator at the Science Center will provide a 3-6 month “market immersion” experience for Canadian health IT companies, leveraging the Science Center’s resources and networks through its Port business incubator.

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What’s challenging for health startups in the life science capital? 5 Boston entrepreneurs weigh in – MedCity News

If you’re a startup working on a product for the healthcare industry, Boston is the place to be. During a trip to Bean Town, I was curious to hear what startup founders found most challenging in a city so rich with resources. The usual gripes I usually hear elsewhere, like troubles with seed funding or FDA regulation, didn’t come up as much. Instead, these founders seemed to find the more personal elements of entrepreneurship most challenging. Many times, I found myself talking to people who had made a shift from working in tech or research to becoming a business owner.

The community realizes that, though. In addition to numerous startup accelerators and incubators, Boston is home to lots of collaborative startup space.

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Innovate for America Aims to Show That Immigrants Create U.S. Jobs – Venture Capital Dispatch – WSJ

Venture capitalists are pushing to allow more highly educated immigrants into the U.S., saying this is essential to ensuring that the country remains an innovation leader.

One argument they use is that immigrants create jobs by starting companies. Scott Sandell, general partner at New Enterprise Associates who leads the venture firm’s technology investing, wants to support this assertion with better data.

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Top 10 Reminders to Healthcare (and all) Startups – by Marti Nyman – Think. Act. Grow.

I had the privilege to meet with and speak to the local Healthcare meet-up recently (thanks to Pete Kanee at www.healthcare.mn) and as part of my discussion, I shared a list of things that I’d encourage the local (healthcare) startups to continue to keep in mind as they grow their companies.

These are relevant to not only healthcare-focused startups but all startups for that matter. They’re pretty common, but in my recent conversations with healthcare entrepreneurs, I found many of these needing to be brought up as part of the dialogue.

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Sebelius seeks donations from companies to fund exchange outreach group Enroll America – MedCity News

Health and Human Services Secretary Kathleen Sebelius is asking companies for financial donations to help implement President Barack Obama’s healthcare overhaul, months before it is due to take effect.

In telephone calls that began around March 23, officials say, Obama’s top healthcare adviser has been seeking assistance from companies in the healthcare field and other industries as well as from healthcare providers, patient advocacy groups, churches and other charitable organizations.

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