News Archive

Johns Hopkins researcher Se-Jin Lee was named Wednesday as the 2013 recipient of the Ho-Am Prize in Medicine, which recognizes outstanding accomplishments in medical research that pave the way to conquering disease. It is awarded each year to an ethnic Korean and is sometimes referred to as “Korea’s Nobel.”

Lee is best known for his discovery of myostatin, a hormone that regulates muscle mass, and related work that lays the foundation for new therapies for conditions such as muscle wasting and muscular dystrophy.

Philadelphia has reached a milestone in its efforts to be recognized as a healthcare and life sciences hub with the start of its first health IT accelerator.

DreamIt Health’s inaugural class includes 10 startups. The four-month program co-sponsored by Independence Blue Cross and Penn Medicine includes members seeking to develop tools for healthcare providers to speed up diagnoses and improve outcomes.

Maryland has invested $500,000 in Cytomedix Inc., a regenerative medicine company in Gaithersburg.

The investment was made through the state’s Maryland Venture Fund and InvestMaryland program. The state said the money is part of a $27.5 million fundraising round by Cytomedix (OTC: CMXI) that will result in the company adding 13 new employees to its current staff of 55.

Tom Sadowski, President and CEO, of the Economic Alliance of Greater Baltimore has been appointed to UMBC’s Public Policy External Advisory Board. Created in 2003, the External Advisory Board provides advice and guidance to UMBC’s Department of Public Policy and the Maryland Institute for Policy Analysis and Research (MIPAR). An important part of their mission is to bring the University’s public policy expertise to bear on the concerns of the communities they serve.

Gaithersburg-based MedImmune, which is gaining hundreds of jobs in a consolidation by parent company AstraZeneca PLC, has completed its acquisition of AlphaCore Pharma LLC for an undisclosed sum.

The Ann Arbor, Mich.-based biotechnology company is developing a drug for high cholesterol. Cardiovascular and metabolic disease is one of MedImmune’s core research areas.

GlaxoSmithKline is trying to expand the market for its Benlysta drug beyond lupus by launching a major study of the medicine as a treatment for a serious blood vessel disorder.

GSK acquired full control of Benlysta when it bought Human Genome Sciences for $3 billion last year. Current sales of the drug are modest, at 70 million pounds ($106 million) in 2012, but GSK hopes it will become a major seller.

President Obama unveils a bold new research initiative designed to revolutionize our understanding of the human brain, and discusses the importance of investing in American innovation to create jobs and strengthen our economy. April 2, 2013.

Since the passage of the Jumpstart Our Business Startups (JOBS) Act (H.R. 3606) last year, the financial and medical press has been buzzing about the potential for crowdfunding to revolutionize fundraising for early-stage biotech companies. Even more recently, a portal that is exclusively dedicated to crowdfunding biotech and healthcare start-ups launched at medstartr.com. Although there may be reason for biotech entrepreneurs to be excited about crowdfunding, there are significant limitations and risks to this approach as well.

BioMed Realty Adds 1.6 Million Square Foot Portfolio & Expands University / Research Institution Segment to 18% of Annualized Base Rents

BioMed Realty Trust, Inc. (NYSE: BMR) announced today that it has entered into a definitive agreement to merge with Wexford Science & Technology, LLC, a subsidiary of Wexford Equities, LLC, furthering BioMed Realty’s position as the leading provider of real estate to the life science industry. Wexford Science & Technology is a private real estate investment and development company that owns and develops institutional quality life science real estate for academic and medical research organizations, and that boasts well-regarded skills for urban development and redevelopment of life science real estate. The aggregate consideration for Wexford Science & Technology is approximately $640 million, excluding transaction costs and subject to adjustment based on working capital levels and construction and development costs incurred prior to closing. Wexford Science & Technology will operate as a wholly owned subsidiary of BioMed Realty.

And then there were nine.

The Maryland Department of Business and Economic Development has named three finalists in three separate categories of the final round of the InvestMaryland Challenge. The winning companies, to be announced April 15, will receive $100,000 in top prizes and $125,000 in cash and in-kind awards as part of the Maryland Venture Fund’s first business competition.

InvestMaryland is a state venture capital initiative managed by DBED and the state-run Maryland Venture Fund. The initiative raised $84 million through a tax credit auction in 2012 to invest in startup companies.