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Acquisition will create phage therapy company with an advanced pipeline with two Phase 2 assets, BX004 for the treatment of chronic pulmonary infections in cystic fibrosis (“CF”) patients and BX211 for the treatment of diabetic foot osteomyelitis (“DFO”)

Concurrently with entering into the definitive merger agreement, BiomX entered into a definitive agreement for a private placement financing of $50 million that will be used to advance two lead product candidates through Phase 2 clinical readouts in 2025

WASHINGTON – Today, the National Advisory Council on Innovation and Entrepreneurship (NACIE) released its “Competitiveness Through Entrepreneurship: A Strategy for U.S. Innovation” (PDF) report that includes 10 recommendations for how the U.S. Department of Commerce, the federal government, and the private sector can foster an entrepreneurship ecosystem that ensures the United States leads in critical technology innovation.

U.S. Secretary of Commerce Gina Raimondo charged NACIE – a 32-member council comprised of leading entrepreneurs, innovators, investors, academics, and economic development leaders – with developing the report and recommendations with the aim of ensuring America’s continued global leadership in developing, commercializing, and scaling advanced technologies.

“America is the most competitive it’s ever been because we are home to the greatest innovators. But to maintain that position of power in the world, we need to keep making smart investments that will keep us ahead of the curve. That’s why the Biden-Harris Administration is laser-focused on building, strengthening, and investing in American technological innovation at every level of the economy and in every community,” said U.S. Secretary of Commerce Gina Raimondo. “NACIE’s report and recommendations provide a roadmap to help ensure America remains a global leader by expanding research and development, increasing access to capital, and fueling inclusive business growth across the country.”

Maryland thought leaders support the diversification of Maryland’s workforce

COLUMBIA, Md. (March 5, 2024) – TEDCO, Maryland’s economic engine for technology companies, recently announced the newly appointed Equitech Growth Commission, that manages the Cultivate Maryland initiative.

The Cultivate Maryland initiative was established by the Maryland General Assembly as the Equitech Growth Fund and Commission during the 2023 legislative session to increase Maryland’s competitiveness as an innovation economy. This decision was made in response to a recent study that outlined the need for promoting more diversity and inclusion in Maryland’s technology ecosystem.

As established, the Cultivate Maryland initiative is managed by a 24-member commission – the Equitech Growth Commission. Of these individuals, 10 are appointed by the Governor, three are appointed by the Speaker of the House, three are appointed by the President of the Senate.

“Maryland needs more strategies to support the growth and development of our economy,” said Governor Wes Moore. “The Equitech Growth Commission is one of the many new strategies in place to bring Maryland to the forefront of the competition, and we are excited to see the positive change they bring.”

New facility expected to support expanded cGMP manufacturing of clinical and commercial supply of Company’s pipeline of mRNA cell therapies for the treatment of autoimmune diseases

GAITHERSBURG, Md., March 05, 2024 (GLOBE NEWSWIRE) — Cartesian Therapeutics, Inc. (NASDAQ: RNAC), a clinical-stage biotechnology company pioneering mRNA cell therapy for autoimmune diseases, today announced its plans to transition its corporate headquarters to Frederick, Maryland. The approximately 20,000 square foot state-of-the-art current good manufacturing practice (cGMP) compliant facility has clinical and commercial manufacturing scale capabilities designed to support the Company’s maturing pipeline of innovative mRNA cell therapies for the treatment of autoimmune diseases.

Rockville Economic Development, Inc. (REDI) is set to launch its first BioBoost series on March 20, 2024, in Rockville, MD. This pioneering event, titled “The Future of Bio/Life Science Funding in 2024,” promises to be a cornerstone for professionals in the bio/life science sector. Attendees will have the unique opportunity to delve into the latest investment trends, overcome industry challenges, and discover new funding opportunities through insightful discussions led by esteemed industry experts.

In honor of Women’s History Month, which kicks off today, we wanted to highlight 10 incredible women making a mark in the life sciences in the BioHealth Capital Region. This is just the tip of the iceberg.

Arti Santhanam, Executive Director, Emerging Technology Centers (ETC)
Dr. Arti Santhanam was recently appointed Executive Director of Emerging Technology Centers (ETC). While new to the role, Dr. Santhanam is a long-time player in the BioHealth Capital Region.

Dr. Santhanam’s contributions over the last decade at TEDCO, especially within her role in the Maryland Innovation Initiative (MII), have been instrumental in fostering Maryland’s diverse and innovative ecosystem. Established in 2012, MII has invested $52.3M, resulting in 176 startups from notable universities like Johns Hopkins, the University of Maryland, and Morgan.

Maryland company continues toward goal of supporting improved patient safety

COLUMBIA, Md. (February 29, 2024) – TEDCO, Maryland’s economic engine for technology companies, announced a recent $400,000 investment into Linshom Medical, Inc., a medical device company developing an innovative wearable sensor technology to support patient respiratory monitoring. This recent investment came in two parts – $250,000 from the State Small Business Credit Initiative (SSBCI) funding and $150,000 from the Venture Funds – and was done in conjunction with Abell Foundation.

TEDCO’s SSBCI funds were provided after the State of Maryland chose TEDCO to be one of the various stewards of this essential funding, allowing for more investments in target communities and areas with small, micro and Socially and Economically Disadvantaged Individual (SEDI) businesses. Click here to learn more.

BETHESDA, Md., Feb. 27, 2024 (GLOBE NEWSWIRE) — Gain Therapeutics, Inc. (Nasdaq: GANX) (“Gain”, or the “Company”), a clinical-stage biotechnology company leading the discovery and development of the next generation of allosteric small molecule therapies, announces the initiation of the Multiple Ascending Dose (MAD) part of the Phase 1 clinical trial of GT-02287, Gain’s lead drug candidate for the treatment of GBA1 Parkinson’s disease.

Based on the safety and tolerability profile observed in the Single Ascending Dose (SAD) cohorts of the study, the Bellberry Human Research Ethics Committee (HREC) in Australia approved the start of the MAD part of the study in parallel with the completion of the last SAD cohorts. Following the HREC approval, administration of GT-02287 in the MAD part of the study has been initiated.

MANASSAS, Va. & TEL AVIV, Israel–(BUSINESS WIRE)–ATCC, the world’s premier biological materials management and standards organization, and Tissue Dynamics, a disruptive pharma-tech company integrating advanced artificial intelligence tools with bionic human organoids, today announced a partnership to develop workflow friendly cardiac organoids-based kits for improved cardiac safety testing in drug development. The collaboration will be done under the Israel-U.S. Binational Industrial Research and Development Foundation (BIRD) framework, which awarded both companies a two-year grant. The BIRD Foundation, established in 1977, bolsters transformative partnerships that stimulate, promote, and support industrial research and development in a wide range of technology sectors.

When the Biden Administration unleashed its proposed march-in guidelines last December, it claimed they would be a powerful tool for lowering drug prices by allowing the government to “march in” to license copiers under the authorities of the Bayh-Dole Act.

It did so despite previously joining every other Administration denying price control petitions as not authorized under the law. It should have known the proposal would have minimal impact on drug prices—but would have a devastating impact on American innovation. That’s because the guidelines apply to all federal R&D agencies—not just the National Institutes of Health — so they cover inventions across the spectrum, not just the life sciences.