News Archive

GERMANTOWN, Md. , June 20, 2023 /PRNewswire/ — Precigen, Inc. (Nasdaq: PGEN), a biopharmaceutical company specializing in the development of innovative gene and cell therapies to improve the lives of patients, today announced that the US Food and Drug Administration (FDA) has granted Breakthrough Therapy Designation for the first-in-class investigational PRGN-2012 AdenoVerse immunotherapy for the treatment of recurrent respiratory papillomatosis (RRP).

FDA’s Breakthrough Therapy Designation expedites the development and review of medicines which are intended to treat serious or life-threatening diseases, and in which preliminary clinical evidence demonstrates substantial improvement on clinically significant endpoints over available therapies.

— New Financing of $24 Million Fully Funds the Phase 2 Clinical Program for Lead Candidate VLX- 1005

— Company Prepares to Evaluate VLX-1005 in Heparin-Induced Thrombocytopenia (HIT)

FREDERICK, Md., June 20, 2023 (GLOBE NEWSWIRE) — Veralox Therapeutics, a clinical-stage biotechnology company developing a new class of therapies targeting the 12-lipoxygenase (12-LOX) pathway to address some of medicine’s most persistent and serious immune-mediated diseases, today announced the appointment of Jonathan Mow as the company’s new chief executive officer.

Mr. Mow’s appointment comes as Veralox secured $24 million in funding to advance VLX-1005 through a Phase 2a proof-of-concept study evaluating its impact on heparin-induced thromobcytopenia (HIT), a life-threatening rare disease caused by an aberrant immune response to heparin exposure. The investment round included new investors Pappas Capital and NYBC Ventures and existing investors Hatteras Venture Partners, Sanofi Ventures, JDRF T1D Fund and Genesys Capital, amongst others. In conjunction with the financing, the company welcomes Peter Young of Pappas Capital as a director and Meg Wood of NYBC Ventures as an observer.

Countless medicines of tomorrow are being developed right here today — many in Montgomery County, among the country’s top life sciences hubs.

Here’s a look at three potential medical breakthroughs now in development at some of the region’s bioscience firms, how they got there and what to expect next.

Local life sciences, at a glance

Greater Washington and Baltimore combined to be the fifth-largest life science employment cluster in the United States, with roughly 75,000 in the workforce as of the second quarter of 2022, according to an April 2023 CBRE research report. The regions above it: San Francisco Bay Area, Boston/Cambridge, New Jersey and San Diego.

In this captivating episode of BioTalk, Rich Bendis sits down with Tom Sadowski, the Executive Director of the Maryland Economic Development Corporation (MEDCO). With over 30 years of experience in economic development, Tom has played a pivotal role in translating vision into action. Together we explore MEDCO’s significant contributions to economic development and their strategic partnerships across Maryland.

Tom shares his remarkable career accomplishments, including successful projects valued at over $10 billion and the creation of 50,000 jobs. His expertise in fostering research partnerships, technology commercialization, and his role in launching the Maryland Momentum Fund bring invaluable insights to the conversation. We uncover MEDCO’s focus on real estate development, financing, infrastructure, and public/private partnerships, all aimed at fueling business retention, development, and employment growth.

The long-anticipated intramural licensing impact study was officially released in conjunction with the BIO Annual Meeting and is now posted to a special section of the NIH Community Tech Transfer Website for further reading and utilization.

The year-long study involved a full download and analysis of NIH TechTracs licensing data and demonstrates the true impact and power that our NIH intramural licensing program has had in three major areas:

BioHealth Innovation, Inc. (BHI), in collaboration with the Global Business Center (GBC) – Washington, D.C. of Korea SMEs and Startups Agency (KOSME), is excited to announce the continuation of their highly successful program aimed at facilitating Korean companies’ entry into the US market. As the program enters its third year, it continues to empower Korean biotech enterprises, enabling them to establish a strong foothold in the BioHealth Capital Region. KOSME is a Korean-government funded non-profit, currently led by President, Dr. Hakdo Kim, created over forty years ago to support small and medium enterprises in Korea.

“We are thrilled to continue our partnership with BHI for the third year in a row. The program has consistently provided guidance and market knowledge, proving invaluable to Korean biotech companies. We anticipate that our latest cohort will benefit greatly from this collaboration,” says Rich Bendis, President and CEO of BHI.

BioHealth Innovations (BHI) is thrilled to welcome Ashleigh Acker and Sebastian Chung as the newest additions to our internship program. Their diverse backgrounds and passion for biotechnology make them valuable assets to our organization.

Sebastian Chung, a graduate student at Johns Hopkins University, is on track to complete his Master’s in Biotechnology in the spring of 2024. During his undergraduate years at the University of Washington in Seattle, Sebastian excelled in the study of physiology and sales, all while co-captaining the men’s club golf team. His expertise lies within the multi-omic space, having worked as an account manager at NanoString Technologies, a leading biotechnology company. Sebastian’s extensive experience in consulting on sequencing and spatial biology projects, particularly with large pharmaceutical companies in the greater New England area, will undoubtedly contribute to our innovative research initiatives. When he’s not immersed in the world of biotechnology, Sebastian enjoys playing golf and watching premier league soccer.

AlphaTech, an esteemed initiative focused on fostering innovation within the cybersecurity, big data, analytics, and digital health sectors, is thrilled to announce the induction of a new cohort consisting of exceptional companies. The program, designed to engage with Founders and CEOs of emerging growth companies, aims to provide valuable resources, educational programming, networking opportunities, and meaningful interactions.

Over the course of eight months, this select group of CEOs will have the privilege of connecting with AlphaTech’s advisors, speakers, alumni, and industry luminaries. The program’s comprehensive approach encourages collaboration and knowledge sharing, ensuring participants gain insights from experienced professionals and industry veterans.

Neuroene Therapeutics has been awarded a Small Business Innovation Research (SBIR) grant by the National Institutes of Health (NIH). The award supports Neuroene’s ongoing research and development of a novel class of well-tolerated compounds protects and ameliorates mitochondrial and neurological diseases.

Neuroene’s lead antiseizure drug (ASD) candidate has demonstrated broad-spectrum antiseizure activity in several animal models of pharmacoresistant seizures and Parkinson’s disease, showcasing its potential both as a fast-acting rescue agent and long-term chronic therapeutic. Intriguingly, the compound’s stability offers significant advantages for long-term storage and stockpiling in case of public health emergencies or bio-incidents.