BioHeaIth Innovation aims to transform Central Maryland into a commercialization hub by building an entrepreneurial ecosystem using the research, funding, networks and business development resources available in the region.
The market for Health Information Technology concepts and new products are moving at a rapid pace. Since the signing of the Health Information Technology for Economic and Clinical Health Act (HITECH) by President Obama in 2009 that allocated $36 billion to aid investments in healthcare IT and spurring new initiatives like the Office of the National Coordinator for Health Information Technology (ONC) the environment and funding available to test new products significantly escalated.
Fast forward four years—there remains to be enormous untapped market opportunity with many new products being brought to fruition and highly innovative new concepts under development by the private and public sectors.
Maryland, a significant center of the health care industry nationally and home to the National Institutes of Health, Food and Drug Administration, Johns Hopkins University, the University System of Maryland, and a robust private sector has emerging opportunities within the Health IT industry sector from telemedicine and remote monitoring to electronic medical records and mobile health.
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, today announced its selection of Ram Aiyar, Ph.D., M.B.A., as the first Entrepreneur-in-Residence (EIR) for BHI at the National Institutes of Health’s (NIH) National Heart, Lung and Blood Institute (NHLBI). Dr. Aiyar will help advance fundamental research discoveries to new therapeutics, diagnostics and devices that can be used clinically and commercially.
“We’re pleased to add Dr. Aiyar to our roster of Entrepreneurs-in-Residence,” said Rich Bendis, BHI President and CEO. “He is now our third EIR – joining Todd Chappell, who is EIR at NIH, and Ken Malone, our EIR working with the University of Maryland Ventures. The growth of this program will be a benefit to BHI and our partner organizations for years to come, and will result in transitioning more early-stage biomedical technologies to commercial potential. ”
Hall of Fame award underlines long history of commitment to Maryland technology community
The Tech Council of Maryland honored Lockheed Martin with the 2013 Hall of Fame Award at its 25th annual Tech Awards Celebration, held at the Bethesda North Marriot Hotel and Conference Center in Bethesda, Md.
The Tech Awards Celebration is the mid-Atlantic region’s largest and most prestigious awards ceremony that recognizes leaders and innovators in the technology and life science communities from Maryland and the surrounding regions.
Doug Doerfler, CEO of Gaithersburg-based MaxCyte Inc., was this month named the Tech Council of Maryland’s new chairman. He steps into the position with a wealth of TCM experience under his belt, having spent three years as chairman of the trade group’s biotech division. I caught up with Doerfler on his plans for TCM, the interplay between its IT and bio contingents and the search for a new full-time CEO.
The threshold for reporting on marketing stunts is a high one, and United Therapeutics Corp. has just cleared it.
Reaching us by mail today is the Silver Spring biotech’s 2012 annual report, written as a spoof of a children’s book and called “Good Year UTHR.” UTHR, of course, is the ticker symbol for United Therapeutics, which has a history of doing this sort of thing.
Medical technology pioneer AstraZeneca has chosen the Cambridge Biomedical Campus at the Addenbrooke’s Hospital site in Cambridge UK for its new global headquarters.
It will make a formal announcement in June. The Biomedical Campus has been chosen over Granta Park where AZ’s biologics division MedImmune has massively grown its presence. None of the parties involved are making any comment. The decision is a major boost for the Biomedical Campus where The Queen today officially opened the MRC’s Laboratory of Molecular Biology.
In a unique program called Preparing the Future (PTF), 334 students have completed classroom and hands-on training to equip them to address the HIV epidemic, according to Alexandra “Allie” Reitz, the programýs coordinator for the JACQUES Initiative (JI) of the Institute of Human Virology at the University of Maryland School of Medicine.
The PTF at the University of Maryland, Baltimore (UMB) is designed as a model for the nation and is supported by a grant from Gilead Sciencesý HIV FOCUS Program, for the JACQUES Initiative (JI). By participating, UMB students “gain invaluable communication skills through the PTF’s interprofessional approach,” says Reitz.
GlaxoSmithKline (GSK) plc and the Biomedical Advanced Research and Development Authority (BARDA), part of the U.S. Department of Health and Human Services (HHS), have agreed to a first of its kind collaboration that will support the development of several antibiotics to fight antibiotic resistance and bioterrorism.
This public-private agreement marks the first time that HHS has taken a “portfolio approach” to funding drug development with a private sector company. This unique collaboration provides flexibility to move funding around GSK’s antibacterial portfolio, rather than focusing on just one drug candidate and allow medicines to be studied for the potential treatment of both conventional and biothreat pathogens.
GlaxoSmithKline has created a contest for academic researchers that it hopes will accelerate the speed by which academic research can be turned into novel therapies.
The London pharmaceutical company, which has large operations in the Philadelphia region, on Tuesday launched a competition program it is calling Discovery Fast Track.
The StartRight! Women’s Business Plan Competition was founded in 2003 by Rockville Economic Development Inc. (REDI) to encourage and support women’s entrepreneurship. Currently in its tenth year, StartRight! awards prizes for winning business plans annually. The women who join our competition receive more than the opportunity to win a top prize of $5,000 – they also receive valuable coaching and feedback on their business plan!
There are 3 Prize Categories – Total of $15,000 in prizes with a top prize of $5,000! You select the category in which you wish you plan to be entered.
Technology
General Business
Life Science
If you have additional questions or need assistance, contact alicia@marylandwbc.org or call us at 301-315-8096.
Biotech has never quite taken flight in Northern Virginia. Whether that’s due to the lack of a big corporate anchor or blue-chip research university, the dearth of wet labs, the attraction of a stronger scene in Montgomery County or pure dumb happenstance is anyone’s guess.
But on this side of the D.C. suburbs, the life sciences are not thriving. The story of Virginia biotech right now has much more to do with Charlottesville than it does with Fairfax.
Wednesday, June 12, 2013 8:00 AM – 10:00 AM Bethesda Country Club
We often hear that capital formation is among the most difficult challenges faced by biotechnology companies. Please join us on June 12th for an MdBio breakfast program to hear from four seasoned local venture capital investors, all to discuss investment trends, strategies and opportunities in Maryland. The event will offer a great platform to hear and have dialogue about the broader dynamics in investment, what has changed and where the capital opportunities are.
Speakers:
David Mott, General Partner, NEA
Lars Hanan, Co-Founder and Managing Partner, BroadOak
Brian Carney, Principal, Herbert Venture Partners
Kyp Sirinakis, Managing Partner, Rock Spring Ventures
The Maryland Stem Cell Research Commission (Commission) has completed its review of the 171 applications received in response to its FY 2013 Requests for Applications (RFAs). The board of directors of the Maryland Technology Development Corporation (TEDCO) approved the Commission’s recommendation to fund 31 new proposals with the Maryland Stem Cell Research Fund’s (MSCRF) $10.4 million FY2013 budget. These projects, which include pre-clinical research and a clinical trial, will advance the field of regenerative medicine.
“These awards are critical to ensuring that the groundbreaking research being done has the opportunity to move to the commercial marketplace,” said Governor Martin O’Malley. “I congratulate this year’s grant recipients and look forward to the contributions they make to the improved health and wellbeing of our citizens.”
Would it surprise you to learn that Fast Company magazine just ranked Maryland the third-most innovative state in the nation? Or that Maryland took the U.S. Chamber of Commerce’s No. 1 spot for both innovation and entrepreneurship? It’s a fact: In our state’s dynamic mix of world-class universities and professional schools, institutes for advanced research, teaching hospitals, think tanks, hubs for start-up businesses and more, there exists this mysterious, economically essential activity known as innovation.
So if we are as innovative as Fast Company and the leaders of free enterprise say we are — and I believe it’s true — we have to ask ourselves a couple of questions: How did it happen? And how can we keep it going?
Poor maternal, infant, and child health as well as inadequate coverage of family planning remain significant global health problems facing low- and middle-income countries (LMICs) today. Despite a 47% reduction since 1990, nearly 300,000 women still die annually from causes directly related to pregnancy. The majority of these deaths are attributed to preventable obstetric complications prior to, during, and following delivery, with developing countries carrying the vast majority (99%) of the burden. Additionally, although mortality for children under five years of age has decreased from 12 million annually at the beginning of the last century (in 1900), to 6.9 million annually in 2011, the burden of these deaths now falls primarily in LMICs, with most of these deaths also due to preventable causes. In these same countries mobile phone coverage and access has become nearly ubiquitous, with the International Telecommunications Union (ITU) estimating in 2013 that the number of mobile phone subscriptions (6.8 billion) is nearly equal to the human population of 7.1 billion. The opportunity this represents is one that has not been lost on the global health community.
There is a critical unmet need in the U.S. and around the world for the development of pediatric medical devices, with support coming only from a scarce number of available grants and some private investments and philanthropy. The testing and marketing of new devices for children raise unique challenges as well. Finally, there has been much controversy around the 510(k) process for device approvals, which leads to additional need for new innovative approaches that improve the regulatory pathways for medical device development.
As we shift to a value-based healthcare system, regulatory bodies, innovators, and manufacturers must find the right balance between two noble goals: encouraging and enabling innovative medical advancements and ensuring that patients receive treatment that is as safe and effective as possible.
Please join us on June 13, 2013, for a day long symposium with leaders from the FDA, NIH, IOM, and industry, as well as policymakers, clinicians, lawyers, scientists, and bioethicists from around the world to discuss these critical issues in pediatric surgical innovation and device development.
Their ability to innovate, to inspire others, to power a business along the difficult journey from start-up to market leader is truly extraordinary. The Ernst & Young Entrepreneur Of The Year Award celebrates these special people who have created many of the world’s most dynamic and successful companies. We invite you to join us in celebrating their success at the Ernst & Young Entrepreneur Of The Year 2013 Maryland Awards Gala.
Wednesday, June 26, 2013 Baltimore Marriott Waterfront 700 Aliceanna Street | Baltimore, MD 21202 6:00 p.m. — Cocktail reception 7:00 p.m. — Dinner and awards ceremony Black tie
Today is Demo Day for Techstars Boston. I love Techstars Demo Days for many reasons, not the least of which is the amazing community that gathers to hear the brief, well-rehearsed pitches from the various start-ups who have spent months planning for this big event.
As accelerators like Techstars gain in popularity, many entrepreneurs wonder whether they should be applying and, if admitted, joining an accelerator and when they shouldn’t. I get this question a lot from my students, particularly as they’re graduating and scrambling to figure out where they should start their company, how to raise capital and whether an accelerator is right for them. Here are a few guidelines that I would think about if I were an entrepreneur making such a decisions.
There are lots of myths about venture capital and biotech in particular, as noted previously on this blog. Many of these myths are deeply held beliefs about returns, what works and what doesn’t, and the state of the industry. Told often enough, these beliefs are presumed to be true by many observers, including practitioners in the field, Limited Partners, and pundits.
Surprisingly, data exists to address lots of these points, and I’ve attempted here to summarize (and link to) a number of prior posts aimed at debunking these myths and sharing a few observations on them.
The Public Health Service Act indicates that the purpose of the National Center for Advancing Translational Sciences (NCATS) is to advance translational sciences by coordinating and developing resources that leverage basic research in support of translational science; and by developing partnerships and working cooperatively to foster synergy in ways that do not create duplication, redundancy and competition with industry activities.
The Affordable Care Act, aka health care reform, aka Obamacare, is spurring a massive creation of new business opportunities.
So says Bryan Sivak, the chief technical officer and entrepreneur-in-residence at the Department of Health and Human Services, the cabinet-level agency that regulates the $2.8 trillion U.S. health care market. Sivak joined VentureBeat’s HealthBeat conference today via a video conference (see photo above).
Just one of the areas that’s becoming fertile ground for entrepreneurial innovation: the health insurance exchanges mandated by the law.
More than half of all eligible providers nationwide have received federal incentive payments for demonstrating meaningful use of electronic health records, rates that have more than doubled since last year alone, HHS Secretary Kathleen Sebelius announced Wednesday.
Sebelius says HHS has met and exceeded its goal for 50 percent of doctor offices and 80 percent of eligible hospitals to have adopted EHRs by 2013’s end.
Zina Moukheiber said the New York Digital Health Accelerator Is a Model to Emulate at the beginning of the program. With the proliferation of accelerators, I thought I’d share an insider’s perspective on what it was like to be in the program now that it is complete. I’ll also share some ideas on how can take it to the next level building off of their already-strong foundation.
Zina described the program as follows:
One of the toughest hurdles for health IT start-ups is getting in front of customers. Doctors are reluctant to pay, and sales cycles at hospitals can take months. Entrepreneurs often inspired by a negative personal experience, and moved to fix the problem, find later that their product doesn’t fit the hospital’s “workflow,” or offers no incentive for doctors to adopt it.
Optimistic and confident in their abilities, a diverse and growing percentage of U.S. citizens engage in entrepreneurship, according to the Global Entrepreneurship Monitor (GEM).
U.S. entrepreneurship rates climbed to the highest level in more than a decade according to the 2012 Global Entrepreneurship Monitor (GEM) U.S. Report issued today by Babson College and Baruch College. In 2012, the average Total Early-Stage Entrepreneurial Activity rate (TEA) increased to nearly 13 percent, an all-time high since GEM first began tracking entrepreneurship rates in 1999.
“Despite a sluggish economy, 2012 was marked by U.S. entrepreneurs reporting greater optimism and confidence in their abilities to start new businesses,” commented the GEM Report’s lead author, Donna J. Kelley, Associate Professor of Entrepreneurship at Babson College. “In fact, nearly 13 percent of the U.S. adult population was engaged in entrepreneurship with the vast majority starting businesses to pursue an opportunity rather than out of necessity. On the downside, Americans closing businesses were twice as likely as those in other innovation-driven economies to cite difficulties financing their ventures.”
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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Alexandra “Allie” Reitz, the programýs coordinator for the JACQUES Initiative (JI) of the Institute of Human Virology at the University of Maryland School of Medicine.
oday is Demo Day for Techstars Boston. I love Techstars Demo Days for many reasons, not the least of which is the amazing community that gathers to hear the brief, well-rehearsed pitches from the various start-ups who have spent months planning for this big event.
he Affordable Care Act, aka health care reform, aka Obamacare, is spurring a massive creation of new business opportunities.
ptimistic and confident in their abilities, a diverse and growing percentage of U.S. citizens engage in entrepreneurship, according to the Global Entrepreneurship Monitor (GEM).
