News

The tide has been rising in biotech investment in 2024—though it has not lifted all boats equally.

While the volume of investment improved in the first half of 2024, much of it went to a few “mega deals,” leaving many promising small biotechs still seeking funding, according to data presented during the Oct. 15 opening panel of the 2024 BIO Investor Forum in San Francisco, hosted by the Biotechnology Innovation Organization (BIO).

Still, the situation is improving, according to panelists in the session, “Understanding the Fundraising Environment for Biotech Companies,” which was moderated by Jesse Essaff, Director, Life Science & Healthcare, Commercial Banking – HSBC Bank USA.

Company continues to expect to hold an End-of-Phase 2 meeting with the FDA by year-end

GAITHERSBURG, Md., Oct. 15, 2024 (GLOBE NEWSWIRE) — Cartesian Therapeutics, Inc. (NASDAQ: RNAC) (the “Company”), a clinical-stage biotechnology company pioneering mRNA cell therapy for autoimmune diseases, today announced the presentation of data from its Phase 2b trial of Descartes-08 in patients with generalized myasthenia gravis (MG) during the 2024 Myasthenia Gravis Foundation of America (MGFA) Scientific Session of the American Association of Neuromuscular and Electrodiagnostic Medicine (AANEM) Annual Meeting being held today in Savannah, Georgia. Positive topline results from the trial were previously announced in July 2024. A copy of today’s presentation will be available in the Publications and Presentations section of the Company’s website.

ROCKVILLE, Md.–(BUSINESS WIRE)–BrainScope, a leader in brain diagnostics, today announced the successful completion of the proof-of-concept phase for a novel brain activity-based biomarker for the prediction of onset of Alzheimer’s disease at its earliest stage in normal elderly individuals with memory complaints. This breakthrough was supported by an investment from the Alzheimer’s Drug Discovery Foundation (ADDF).

WASHINGTON, Oct. 15, 2024 (GLOBE NEWSWIRE) — Six medical technology innovators focused on pediatric cardiology were selected to receive grants of $50,000 each in the “Make Your Medical Device Pitch for Kids!TM” competition in Toronto. The funds will help awardees bring their devices to the market and improve care for children with heart conditions.  

Federal agencies, defense contractors spur growth at Rivanna Station, North Fork Discovery Park
On 462 acres in Albemarle County, a plot of land along U.S. Route 29 adjacent to a federal intelligence hotspot is the latest addition to a growing cluster of industries coming to define the Charlottesville area. County officials identified the plot as a place where academic institutions, private industry focused on defense and biotech, and government agencies could come together, develop partnerships, and benefit from their proximity and talent. The county Board of Supervisors finalized the agreement to purchase the property in late 2023, the largest parcel of land purchased in the county’s history.

The new plot is adjacent to Rivanna Station, the aforementioned intelligence cluster, and directly across from the University of Virginia’s (UVA) North Fork Discovery Park, another parcel that spans more than 500 acres and hosts a similar range of organizations. Together, the growing Rivanna Station and North Fork campuses allow the industries to grow in a region increasingly known for defense and biotech companies. The county plans to use the land to establish what it’s calling an Intelligence and National Security Innovation Acceleration Campus, where defense contractors, the U.S. Department of Defense, and academia can cooperate to solve national security problems.

BALTIMORE, MD, October 14, 2024 – BioBuzz Networks, Inc. and ScienceWerx, Inc., a 501c(3) nonprofit organization based in Frederick, MD, have entered into a strategic technology partnership. Through this new partnership, ScienceWerx will lead the technology development of BioBuzz’s AI-powered life science community platform and talent marketplace. The companies will also be working together to deploy their collective expertise to support regional economic and workforce development initiatives within emerging innovation ecosystems.

GERMANTOWN, Md., October 15, 2024 (Newswire.com) – Seraxis Inc., a clinical-stage regenerative medicine company, has received the FDA’s allowance of an Investigational New Drug (IND) application for a Phase I/II clinical study of its novel islet replacement therapy SR-02. SR-02 is the first reprogrammed stem cell-derived pancreatic product candidate allowed by the FDA for testing in humans as a potential functional cure for insulin-requiring diabetes.

By Rebecca Barnabi: Published date:October 14, 2024 –  Thought leaders from academia and medical practice explored how artificial intelligence can advance children’s health care at the second annual Children’s National Hospital-Virginia Tech Symposium on AI for Pediatric Health at the Children’s National Research & Innovation Campus in Washington, D.C.

Rowland Illing, chief medical officer and director of international public sector health at Amazon Web Services (AWS), discussed the transformative impact of AI, machine learning and cloud technology.

Italy, October 10th, 2024 – For the fourth consecutive year, PQE Group is among the winners in the 7th edition of the Best Managed Companies Award, which recognizes entrepreneurial excellence in Made in Italy. This award is promoted by Deloitte Private in collaboration with ELITE-Euronext Group, Piccola Industria Confindustria, and with the methodological and strategic support of ALTIS Graduate School of Sustainable Management at the Catholic University of the Sacred Heart.