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In a move sure to inflame the libertarian blogosphere, a presidential ethics commission recommended today that researchers study the effects of anthrax vaccine on children.
Montgomery County has a plan to market itself as a business and tourist destination to a particularly captive audience — one traveling at 30,000 feet.
Please join us to learn more about the uniqueness of Aeras: the product development partnership model, funding, center of excellence and CMO capabilities. Aeras, a not-for-profit, product development organization focused on developing safe, effective vaccines to prevent TB and ensuring they will be available and affordable for the populations that most need them.
A certain song has been running through my head the past few days. Lately, it strikes me as an anthem of sorts for biotech venture capital in 2013.
It’s Fleetwood Mac’s classic break-up song, “Go Your Own Way.”
Allow me to explain. Biotech venture capital has been going through a shakeout now for a couple years, which I’ve written about quite a bit. If you want to be charitable, there are maybe half as many venture firms investing in life sciences companies today as there were five to 10 years ago. There are maybe only a dozen firms left in the U.S. who can say with a straight face that they still are active investors in early-stage biotech startups. It may be harder now than it’s ever been to raise money for a new biotech idea.
Third Rock Ventures has spent the last six years betting big on early stage biotech investing when most other VC firms have been hunkering down or getting out of healthcare investing altogether. Now Third Rock has been rewarded with another $516 million to keep doing what it’s been doing.
The Boston and San Francisco-based firm, founded in 2007, said today it has raised its third fund, bringing its total assets under management to about $1.3 billion. The firm said this round was “oversubscribed” meaning that there wasn’t enough room to accommodate all the limited partners such as endowments and pensions who wanted a piece of the new fund.
– Multiple SBIR/STTR Submission Deadlines Quickly Approaching –
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:
- NIH SBIR/STTR Deadline – April 5, 2013
http://grants.nih.gov/grants/funding/sbir.htm - NSF SBIR/STTR Deadline – June 11, 2013
http://www.nsf.gov/eng/iip/sbir/index.jsp - DOD SBIR/STTR Deadline – June 26, 2013
http://www.acq.osd.mil/osbp/sbir/sb/schedule.shtml
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.
In a demonstration of the booming field of genomic research, investors have pumped $21.3 million into a company that makes and manufactures genome-wide research tools and services.
OriGene Technologies said its Series C was led by Chinese venture firm Qiming Venture Partners and Kleiner Perkins Caufield Byers China, with participation from previous investor IDG-Accel, a China-focused private equity firm.
Startup Maryland (www.startupmd.org), a regional initiative of the national Startup America Partnership (www.s.co), today announced the Raise Your Game initiative to provide the Maryland entrepreneur community with a structured educational program designed to help startup CEOs and founders understand and employ the building blocks of strong startups and startup communities.
Development of the Raise Your Game program and curriculum was led by Startup Maryland Entrepreneur Champions Sam Polakoff, (president of TBB Global Logistics), Gregg Smith (CEO of Koolspan) and Startup Maryland co-chair Michael Binko (CEO of kloudtrack®). Beginning in July of 2013, Raise Your Game will consist of a 6 month educational “bootcamp” program emphasizing the critical components of building successful companies.
The outsourcing of information technology jobs being seen at Bethesda hotel giant Marriott International is not likely a harbinger of more to come, technology and business officials say.
Marriott executives said this week they are cutting “hundreds” of jobs and reorganizing the company’s information technology department in Bethesda in response to a more competitive global business environment. Layoffs are expected to start as early as next month.
Sequoia Holdings, Inc., a leading provider of software development solutions to the U.S. Intelligence Community, is teaming up with Washington DC area private equity and venture capital firms to launch an accelerator focusing on new cyber security and analytic startups. Based in Reston, VA, Sequoia Apps, LLC will concentrate on helping local entrepreneurs create and launch successful startups and connect them to DC area venture capital, private equity and angel investors for additional funding opportunities.
In addition to seed funding, mentoring and coaching, Sequoia Apps is designed to help capitalize on the successful past performance and unique skill sets of all IC focused developers and engineers and help build viable and disruptive commercial applications. “Sequoia Apps is a great example of how companies can leverage the successful past performance of their employees and connect them to the intellectual and financial scene of the DC startup community,” said T. Richard Stroupe, Jr. Sequoia Holdings co-founder. “For years, our development staff has designed and built world class applications for various IC customers, and now we would like to create a new disruptive platform to invest in those engineers in order to help them achieve similar success in emerging markets”.
Montgomery County is implementing a Smart Growth Initiative to build on the area’s strengths in biotechnology and health care in a way that will create mixed-use neighborhoods and walkable new housing developments.
The three places where most of this new construction will occur are the Greater Seneca Science Corridor along Route 28, the White Oak Science Gateway west of Gaithersburg and the White Flint expansion along Rockville Pike. Each project possesses the core elements of walkability, rapid transit options and mixed-use development.
Rick Soni is the President and Chief Operating Officer of Rexahn Pharmaceuticals, a publically-traded clinical stage biopharmaceutical company. He has held this position since August, 2009. Prior to that, he also served as Chief Business Officer from July 2008 to August 2009. While at Rexahn, Mr. Soni has been instrumental in transforming Rexahn from a discovery stage company to a clinical stage company and has formed a major licensing partnership between Rexahn and Teva Pharmaceuticals.
Prior to joining Rexahn, Mr. Soni held various management positions within Otsuka from June 1997 until July 2008 and was responsible for development and commercialization of otsuka’s successful product portfolio. Prior to Otsuka, Mr. Soni also held several management roles within New Product Planning, Sales and Marketing at Novartis and Schering-Plough (now Merck).
Mr. Soni received his undergraduate degree in Industrial Engineering from University of Wisconsin- Madison and an MBA from Fairleigh Dickinson University.