News Archive

“When I was a young entrepreneur, board meetings were by far the worst days of my life,” says Jeff Bonforte, the veteran company-builder who just sold his latest, Xobni, to Yahoo. “Board meetings are the height of insecurity for a CEO. Basically it’s a group of people who can both judge you and fire you based on that judgment.” 

He’s had his fair share of bad experiences. At his first company, iDrive, he’d find himself every quarter standing in front of the room, sweating bullets, struggling to get through his meticulously-prepared slides. “It was a mess,” he says. “They’d just sit there and tell me how insufficient I was, how I needed to bring in someone more senior, or smarter. Then it just hit me. I don’t need this. I don’t need people to attack me for four straight hours. I need people who can help me.” 

Under Armour Inc. is hunting for the techies that can help the company beef up its fitness tracking device known as Armour39.

Armour39, a digital performance monitor launched in March, tracks an individual’s heart rate, calories burned and workout intensity, and provides a “WILLpower” score that reflects how hard an individual trained during a workout.

MedImmune’s venture arm has jumped in to lead a $12.5 million round for a Chapel Hill, NC-based startup that is working on a new drug to treat a common ailment spurred by chemotherapy. G1 Therapeutics, which was initially seeded by Hatteras Venture Partners to the tune of $600,000, says that the new funds will finance its IND work and point the company to proof-of-concept data on a drug designed to protect against myelosuppression–the loss of blood cells–during chemo. Hatteras Venture Partners and Mountain Group Capital contributed to the round.

G1 was founded on the work of Norman Sharpless at the University of North Carolina in Chapel Hill and Kwok-Kin Wong at Harvard Medical School. They concluded that a cyclin-dependent kinase 4/6 inhibitor could play a big role in protecting the bone marrow of chemo patients.

QIAGEN N.V. (frankfurt prime standard:QIA) today announced the Empowered Genome Community, which is a first-of-its-kind initiative to help people who have had their genomes sequenced share, explore, and interpret their data with researchers and each other. To highlight how the community can spark new biomedical insight, QIAGEN also released an open collaborative analysis of myopia in 111 people whose genomes were sequenced through Harvard’s Personal Genome Project (PGP), which is a public repository of well-phenotyped human genomes. Anyone – citizen scientist or full-time researcher alike – can directly review and help refine the analysis via QIAGEN’s Ingenuity® Variant Analysis(TM) (https://variants.ingenuity.com/community-myopia) with the goal of jointly publishing robust insights on myopia next year.

A prominent health system CEO implored the Washington region’s employers to not drop their company health plans in response to the Affordable Care Act, predicting disastrous consequences for the industry if they do.

So far, most companies aren’t taking that step. But enough have to raise the alarm for William “Bill” Robertson, CEO of Gaithersburg-based Adventist HealthCare, which operates two Montgomery County hospitals and network of affiliated services.

The Nobel Assembly at the Karolinska Institute announced today that Randy W. Schekman, a Howard Hughes Medical Institute (HHMI) investigator at the University of California, Berkeley, Thomas C. Südhof, an HHMI investigator at Stanford University, and James E. Rothman of Yale University are the recipients of the 2013 Nobel Prize in Physiology or Medicine for their discoveries of machinery regulating vesicle traffic, a major transport system in our cells.

According to the Nobel Assembly, this year’s Nobel Prize in Physiology or Medicine honors three scientists who have solved the mystery of how the cell organizes its transport system. Each cell is a factory that produces and exports molecules. For instance, insulin is manufactured and released into the blood and chemical signals called neurotransmitters are sent from one nerve cell to another. These molecules are transported around the cell in small packages called vesicles. The three Nobel Laureates have discovered the molecular principles that govern how this cargo is delivered to the right place at the right time in the cell.

Osiris Therapeutics shares rose Friday morning after the company said it is selling some of its stem cell therapy technology, including its transplant treatment Prochymal, to Mesoblast Ltd. in a deal that could be worth more than $100 million.

Prochymal treats bone marrow transplant cells that attack the recipient’s body, and it is approved in Canada and New Zealand but isn’t being sold. Osiris said it wants to focus on businesses with the greatest commercial potential. Its remaining products include Grafix, which is used to treat chronic and acute wounds, Ovation, which is used in tissue repair, and Cartiform, a treatment for acute cartilage injury.

There have been more than 30 initial public offerings of biotechnology companies so far this year, and there’s a line around the block of promising new entrants looking to debut on the public markets.

Angelika Warmuth/European Pressphoto Agency But don’t call it a bubble. Those in the know are calling it a boom, and saying the good times are likely to continue for biotech, even in the face of clinical setbacks and other bumps in the road.

The health care industry has survived economically by cross-subsidizing margin shortfalls in one activity with the revenues generated from others. But the very existence of these cross-subsidies is symptomatic of deep flaws in the health care reimbursement system. As we move forward we need to be mindful of two principles that must be at the heart of any fundamental health care reform:  “no margin, no mission” and “if you can’t measure it, you can’t manage it.” As the era of health care cross-subsidization ends, these principles must guide our actions.

MedImmune, the global biologics research and development arm of AstraZeneca, has acquired Spirogen, a privately-held biotech company focused on antibody-drug conjugate technology for use in oncology.

MedImmune will acquire 100 per cent of Spirogen’s shares for an initial consideration of $200 million and deferred consideration of up to $240 million based on reaching predetermined development milestones. Existing out-licensing agreements and associated revenue streams are excluded from this acquisition.