News Archive

Venture capital deals in the Greater Baltimore area jumped in the third quarter, as investors poured money into medical device makers, biotech firms and one of the region’s largest money managers.

VC firms invested $445.7 million in 53 companies in the Baltimore-Washington area in the three months ended Sept. 30. That was up from $420 million invested in 30 companies in the second quarter and the highest level in almost six years, according to the MoneyTree report from PricewaterhouseCoopers and the National Venture Capital Association. The report uses data from Thomson Reuters.

Every country, every government, every population is a participant in a global trial and error. Each one faces different circumstances and, therefore, approaches healthcare differently.  But, as world health leaders see it, everyone can learn from others’ struggles and successes to improve and simplify their respective strategies. Health information technology is at the core.

Finding the global lessons from local healthcare strategies facilitates progress toward Universal Health Coverage, or UHC, a public health concept championed notably by the World Health Organization and it’s director, Margaret Chan. According to Najeeb Al-Shorbaji, director of knowledge, management, and sharing at the WHO, in a statement released to Healthcare IT News, WHO defines UHC as “all people receiving quality health services that meet their needs without exposing them to financial hardship in paying for them.”  

Join BioBuzz and their sponsor Fujifilm Diosynth Biotechnologies along with many others from the local biotech industry at another exciting BioBuzz event on October 30th from 4:30 – 7:00 p.m. in Gaithersburg at Growlers in Old Towne Gaithersburg!

Click the link to learn how to win a FujiFilm Camera!

The economy works like a simple machine. But many people don’t understand it— or they don’t agree on how it works — and this has led to a lot of needless economic suffering. I feel a deep sense of responsibility to share my simple but practical economic template. Though it’s unconventional, it has helped me to anticipate and sidestep the global financial crisis, and has worked well for me for over 30 years.

The Johns Hopkins University regained a five-year, $70 million federal grant designed to change how researchers pursue drug development and other medical treatments, but the University of Maryland, Baltimore lost its first bid for a similar grant, the National Institutes of Health said Tuesday.

The award pleased Hopkins officials, who had been forced to tweak their proposal for the grant after their application wasn’t renewed in 2012. The university received $80 million through the program, which focuses on what is known as “translational” research, from 2007 through 2011.

Biotechnology startups have stampeded to the public markets this year, but their colleagues in the medical device field have sat quietly on the sidelines.

Chris Ratcliffe/Bloomberg News So far this year, 27 venture-backed biopharmaceutical companies have gone public, compared to just one medical device company, according to industry tracker Dow Jones VentureSource.

Go Neighborhood-Hopping in Baltimore

The city’s once-grungy northern districts have transformed into a thriving area with hip boutiques, destination restaurants, and a homegrown art and nightlife scene.

When WellDoc was founded in 2005, it was one of the first companies that sought 510(k) clearance for its patient and physician facing mobile health DiabetesManager platform. By putting its flagship apps through the discipline of clinical trials that generated positive results, it has helped earn confidence from physicians to prescribe it to their patients. Insurance companies are providing reimbursement for physicians and that has been critical for the company’s growth.

The Baltimore, Maryland-based company’s fundraise last year of about $8.4 million, in an amended Form D filing today, shows that confidence in the company is building. In a phone interview with WellDoc Chief Strategy and Commercial Officer Chris Bergstrom, he said the company continues to be entirely funded by angel investors who are flexing more power as Super Angels. “Each year we have brought on a higher caliber of angel investors. We’re really raising angel money at an institutional investor level.” He added: “It’s a great time and place for institutional investors, but angel investors can provide as much strategic value as institutional investors.”

QIAGEN N.V. today announced a partnership with Clovis Oncology CLVS +1.11% to co-develop and co-commercialize a companion diagnostic test to guide the use of CO-1686, a novel Clovis Oncology product candidate currently in clinical development. The Clovis drug candidate will initially target an unmet clinical need in patients with epidermal growth factor receptor (EGFR) driven non-small cell lung cancer (NSCLC) for whom current EGFR-inhibiting drugs no longer control disease.

The diagnostic will build on QIAGEN’s therascreen® EGFR RGQ PCR Kit, which was approved by the U.S. Food and Drug Administration (FDA) in July 2013 as a companion diagnostic for use in the treatment of metastatic NSCLC in patients whose tumors have certain EGFR mutations. Analytical performance of the therascreen EGFR test has been established for 21 EGFR mutations, including the most prevalent resistance mutation, T790M. The test supports efficient laboratory workflow with real-time PCR technology on the FDA approved Rotor-Gene Q MDx, which is part of the QIAsymphony family of laboratory solutions.