News Archive

Leaders of several Richmond-area biotechnology-related companies said Thursday that they foresee personalized medicine as a major force driving the industry’s growth, but access to capital for small firms with good ideas remains a challenge.

“Life sciences is really the big, huge growth industry,” said Mike Grisham, the chief executive officer of GPB Scientific, a Richmond-based company focused on using microchip technology in health and life-science research.

The National Science Foundation said today that it will fund a major expansion of its Innovation Corps program, an effort to teach NSF-funded university researchers how to build profitable startups around their technologies.

In its initial stages, the two-year-old “I-Corps” program has been flying researchers to Stanford University, the University of Michigan, and Georgia Tech for prototype versions of the “Lean Launchpad” course originally developed at Stanford by serial entrepreneur and startup guru Steve Blank. Now the program is spreading to nine more universities, which have been singled out for three-year grants totaling $11.2 million.

The health care industry is undergoing major surgery. At the center of these operations is Rock Health, a startup accelerator dedicated to the intersection of healthcare and technology. Today, at a demo event at the University of San Francisco, 14 startups presented their ideas on how to transform and improve healthcare in the U.S..

Dr. Aenor Sawyer, an associate clinical professor at UCSF, said during her opening remarks that these companies are changing “how we take care of patients and how patients take care of themselves.” Whether it is managing secondary care, untangling the confusing labyrinth of insurance, or encouraging healthy lifestyle habits, these startups are holding the scalpels.

San Francisco’s Rock Health startup accelerator held its fourth semi-annual Demo Day at UCSF’s Genentech Hall Wednesday afternoon. Investors and journalists heard pitches from 14 startups working to introduce new health-related services for consumers and new ways to improve the efficiency of the U.S. healthcare system.

On the consumer side, one intriguing presenter was Beam Technologies, which is building a toothbrush embedded with motion sensors to detect how long a person has been brushing. A Bluetooth radio sends the data to a smartphone app. (Perhaps it should have been called the Bluetoothbrush.)

Some of Silicon Valley’s most prominent billionaires are making a big push to guide the tech world’s entrepreneurs into biotech.

Backing the Breakthrough Prize in Life Sciences are Yuri Milner; Sergey Brin and Anne Wojcicki; and Mark Zuckerberg and Priscilla Chan.

Fittingly, they’re making the announcement at the University of California at San Francisco’s Genentech Hall, a building named after one of the Bay Area’s biotech standouts.

The University of Maryland’s Maryland Industrial Partnerships (MIPS) program today announces it is awarding $4.7 million to Maryland university researchers to help 16 local companies develop technology products.

The projects, which team companies with universities across the state, include gene-silencing for cancer treatment, a new cardiovascular diagnostic device, advanced chemical detection, distributed heating and cooling, fertilizers and soil amendments made from both fish waste and other mixtures, agricultural stormwater treatment, an heirloom tomato juice production system, temperature-detecting gel, a drug to treat lung fibrosis, advanced oyster seeding system, electronic baseball home plate, mobile solar milk chiller, and both a vehicle and sensor technology for inspecting bridges.

The “valley of death” is a common term in the startup world, referring to the difficulty of covering the negative cash flow in the early stages of a startup, before their new product or service is bringing in revenue from real customers. I often get asked about the real alternatives to bridge this valley, and there are some good ones I will outline here.

According to a Gompers and Lerner study, the challenge is very real, with 90% of new ventures that don’t attract investors failing within the first three years. The problem is that professional investors (Angels and Venture Capital) want a proven business model before they invest, ready to scale, rather than the more risky research and development efforts.

Life sciences research is a strong economic driver, even if it leads to few patents

As the economy continues to flounder, many cities are looking for ways to replicate Silicon Valley’s financial success. When seeking to catch the magic of those biggest successes — Apple, Google and Facebook — the word “innovation” gets thrown around frequently. And as intellectual property is taking on a larger and larger role in how companies do business in the Bay Area, many have equated innovation with patents.

A recent Sun article about innovation in Baltimore and Maryland focused on just that. It lamented that the Baltimore metro area came in 116th out of 360 metro areas for the number of patent applications per capita, and that the number of patents granted to Baltimoreans remained flat over the past decade. The article seemed to suggest that this lack of intellectual property growth was at least partially responsible for Baltimore’s lack of job growth.

Montgomery officials are under no illusions about the county’s image among the Washington region’s young: boring.

“We’re a little sleepy,” said County Council member Roger Berliner (D-Potomac-Bethesda). “We go to bed early.”

For all its prosperity and family-friendly suburban appeal, Montgomery is in the throes of a midlife crisis. That angst has led to a new item at the top of the public policy agenda: a yearning to be hip.

On Friday, the Department of Defense announced that it has awarded The Johns Hopkins University Applied Physics Laboratory a five-year, sole source, cost-plus-fixed-fee, indefinite-delivery/indefinite-quantity task order contract to conduct research, development, engineering, and test and evaluation work for programs “throughout the Department of Defense.”

The contract envisions Hopkins scientists performing up to 11,964,743 staff-hours’ worth of research and development work through September 2017. Work would be performed in “core competency” areas such as “strategic systems test and evaluation; submarine security and survivability; space science and engineering; combat systems and guided missiles; theater air defense and power projection; and information technology (C4ISR/IO), simulation, modeling, and operations analysis.”