News

Biosim AI, founded by a professor at the University of Maryland in College Park, has closed on $12.25 million in its bid to commercialize technology to “enable and accelerate drug discovery at quantum accuracy.” So far, the company has raised $13 million, with investors including Armenia’s SmartGate VC, according to Crunchbase.

Armenian-born Garegin Papoian, Monroe Martin Professor at UMD’s Chemistry & Biochemistry and Institute for Physical Science and Technology, founded Biosim AI in 2020, raising a small pre-seed investment from his home country firm, SmartGate VC.

Germantown, MD, USA (February 07, 2024) – Amarex Clinical Research, LLC, an NSF company, announces December 2023 marked its 25th year advancing patient access to safe and effective clinical products through delivery of outstanding regulatory and clinical trial services to Sponsors within the life sciences industry.

Amarex was founded in 1998 by scientists from diverse backgrounds in academia, industry, and the FDA. Born from a vision of wanting better services from CRO vendors by correcting the many inefficiencies and deficiencies in the management and conduct of clinical trials, our founders revisited the clinical trial process and developed improved, cost-effective methods for clinical product development without sacrificing quality. Amarex’s unmatched value to Sponsors continues to differentiate Amarex from the competition by assigning senior level staff to every project, optimizing time and cost with efficient and effective processes and procedures, building true collaborative partnerships with Sponsors, and through a commitment to long-term client relationships in order to achieve successful clinical development program outcomes.

ROCKVILLE, Md., Feb. 7, 2024 /PRNewswire/ —  I-Mab (the “Company“) (NASDAQ: IMAB), a global biotech company exclusively focused on bringing highly differentiated immunotherapies and biologics for cancer treatment to patients around the world, today announced that as part of its strategy to become a U.S.-based biotech, its Chinese subsidiaries have entered into definitive agreements with I-Mab Biopharma (Hangzhou) Co., Ltd. (the “Hangzhou Company“), an unconsolidated affiliate of the Company, and a group of China-based investors to divest the Company’s assets and business operations in China.

GAITHERSBURG, Md., Feb. 05, 2024 (GLOBE NEWSWIRE) — BullFrog AI Holdings, Inc. (NASDAQ:BFRG; BFRGW) (“BullFrog AI” or the “Company”), a technology-enabled drug development company using artificial intelligence (AI) and machine learning to enable the successful development of pharmaceuticals and biologics, announced today the closing of an underwritten public offering of an aggregate of 1,507,139 shares of common stock (or pre-funded warrants (“Pre-Funded Warrants”) in lieu thereof) and accompanying warrants to purchase 1,507,139 shares of common stock at a public offering price of $3.782 per share (inclusive of the Pre-Funded Warrant exercise price) for gross proceeds of approximately $5,700,000, prior to deducting underwriting discounts and offering expenses. In addition, the Company has granted the underwriters a 45-day option to purchase an additional 226,071 shares of common stock (and/or Pre-Funded Warrants in lieu thereof) and/or warrants to purchase 226,071 shares of common stock to cover over-allotments at the public offering price, less the underwriting discount.

GAITHERSBURG, Md., Feb. 06, 2024 (GLOBE NEWSWIRE) — NexImmune, Inc. a biotechnology company developing a novel approach to immunotherapy designed to orchestrate a targeted immune response by directing the function of antigen-specific T cells in oncology, autoimmune and infectious diseases, today announced the closing of its previously announced registered direct offering of 304,731 shares of its common stock (or common stock equivalents in lieu thereof) at a purchase price of $12.05 per share (or per common stock equivalent in lieu thereof) in a registered direct offering priced at-the-market under Nasdaq rules. In a concurrent private placement, the Company also issued unregistered warrants to purchase up to an aggregate of 304,731 shares of its common stock at an exercise price of $12.05 per share. The warrants are exercisable immediately and have a term of two years from the date of issuance.

Join Children’s National Hospital for a pivotal symposium on the journey of AGAMREE® from academic research to market approval for DMD treatment in children. This event highlights the critical role of academic entrepreneurship and collaboration with industry in advancing treatments for rare diseases. Featuring insights from experts on the Vamorolone drug development program, regulatory pathways, and the venture philanthropy business model, this symposium is for those committed to making a difference in the biotech and healthcare sectors. Don’t miss this opportunity to engage, learn, and network with leaders in the field.

February 1, 2024 Emily Wishingrad – The life sciences real estate train, which just a few years ago was reaching top speeds, is now pressing down firmly on the brakes.  

The D.C.-Baltimore region is one of the largest life sciences clusters in the U.S., and like its peers, it’s dealing with a slowdown. Biotech companies that were previously growing rapidly were hit last year by rising interest rates, slowing venture capital funding and the collapse of industry backer Silicon Valley Bank, leading to a dramatic pullback in their real estate demand. 

But the D.C. region has an advantage over other top markets during this slowdown, experts say: Developers pursued far less speculative construction during the pandemic-era demand boom. This helped the region maintain the lowest vacancy rate of all U.S. life sciences hubs, according to CBRE, but it has left developers with shovel-ready sites waiting for large tenants that have become few and far between.

“We’re a very healthy market in comparison to other regions, because we did not overbuild,” JLL Executive Managing Director Pete Briskman told Bisnow. “Other top clusters are overbuilt and don’t have enough demand to fill their space. We’re not overbuilt.” 

By Sara Gilgore – Staff Reporter, Washington Business Journal – AstraZeneca PLC (NYSE: AZN) is leaving no doubt about its commitment to Montgomery County, pouring $300 million into a new U.S. manufacturing hub it’s establishing in Rockville just a couple months after taking over another building nearby.

The British pharmaceutical giant said Tuesday the facility at 9950 Medical Center Drive will start out as a space to make T-cell therapies for clinical trials in cancer, and could support other disease areas and commercial work going forward. The company also said it expects to create more than 150 new jobs at the site.