News

Program to ‘fast-track’ emerging companies reflects how innovation and entrepreneurship are growing as VCU sets funding records.

After years of supporting startups that license inventions created by university researchers, Virginia Commonwealth University’s Office of the Vice President for Research and Innovation has launched its first formal Startup Accelerator program.

“Our accelerator will fast-track our VCU-borne companies, giving them more personalized coaching and advisory services from our lineup of entrepreneur experts-in-residence,” said P. Srirama Rao, Ph.D., vice president for research and innovation. “Innovation is taking place at a rapid pace at VCU, and this program will further raise our national visibility and continue to position Central Virginia as a key American technological hub.”

Life science company working to develop ultrasonic bone fracture healing technology

 COLUMBIA, Md. (March 11, 2024) – TEDCO, Maryland’s economic engine for technology companies, announced a recent $200,000 Seed Funds investment in Sonogen Medical, a medical device company based in Maryland.

“Roughly eight percent of the seven million bone breaks annually in the United States fail to heal on their own. At Sonogen Medical, we are combining decades of experience to create a device that supports faster more efficient healing processes for patients,” said Jason Winder, CEO of Sonogen Medical. “Thanks to TEDCO’s investment we can continue our research and development efforts, propelling us towards an efficient, cost-effective solution.”

Hear from ARPA-H Director Renee Wegrzyn, PhD and White House Initiative on Women’s Health Research Director Carolyn Mazure, PhD on the new $100M ARPA-H Sprint for Women’s Health Program and the White House plans, plus insights from WHAM Founder Carolee Lee and AMWA President Elizabeth Garner, MD. If you are an innovator, founder, funder, researcher or care about driving meaningful change in advancing the health of women, this event is for you!

There are more than 10,000 known rare diseases and only a few hundred have safe, effective treatments. ARPA-H’s latest project aims to change that and deliver hope and improved outcomes to millions of Americans.

Introducing MATRIX. Short for ML/AI-Aided Therapeutic Repurposing in eXtended uses, MATRIX intends to build a machine learning platform to rapidly pinpoint and validate existing medications to treat diseases that have no therapies.

• The platform will be open-sourced and include an interactive heatmap displaying predicted efficacy scores for approved drugs against other diseases.

By Vic Suarez – The COVID-19 global pandemic has underscored the critical need for resilient and secure supply chains, particularly in the pharmaceutical industry. As the United States grapples with near-all-time high drug shortages1 and the vulnerability of its supply chain, it has become a national security imperative to address the overreliance on imports for active pharmaceutical ingredients (API) to the United States. Today, China is the sole source for about 20% of the API of our most vital medicines.2 More dangerously, China’s overwhelming global dominance of the key starting materials (KSM) required to produce these essential medicines cannot be readily substituted due to the current levels of market concentration: approximately 45% of KSM, a vital subcategory of API, are solely sourced from China, according to the API Innovation Center.3 To be sure, this level of import dependence on any single nation poses a serious risk to the nation’s general preparedness and resilience, and could become devastating in a crisis.

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.