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BioHealth Innovation, Inc. Awarded $495K Grant by U.S. Economic Development Administration (EDA)

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eda-logoEDA’s 2015 Regional Innovation Strategies (RIS) Program Recognizes BHI for Trademark Method in Commercializing Biotech and Health Tech

WASHINGTON, DC and ROCKVILLE, MARYLAND, February 18, 2016 – BioHealth Innovation, Inc. (BHI), a leader in commercializing market-relevant science and technology, has been awarded a grant of $495,000 from the U.S. Economic Development Administration’s (EDA) Office of Innovation and Entrepreneurship (OIE) through the 2015 Regional Innovation Strategies (RIS) program. U.S. Secretary of Commerce Penny Pritzker announced the award earlier this month.
Judges in the RIS program evaluated more than 170 applications across two competitions: the i6 Challenge and the Seed Fund Support Grants competition. In total, $10 million was awarded to 25 of the applicant programs. Begun in 2010 as part of the Startup Ameriaca Initiative, the competition is now in its fifth year. This year’s i6 program applicants were evaluated for their ability to scale innovative science and technology through assembling sophisticated supportive structures in regional communities that a company or organization works. BHI’s entry was for the expansion of its Venture Commercialization Model (V-COMM).
“The expansion of V-COMM into the biohealth and biotechnology markets in Maryland is pivotal to the growth of our economy both nationally and regionally,” said Richard Bendis, BHI President and CEO. “We want to thank the EDA and the Office of Innovation and Entrepreneurship—particularly Julie Lenzer—for recognizing our innovative achievements to drive biohealth/tech development through this substantial grant.”
“This award to BioHealth Innovation is yet another indicator of the excellent work the organization is doing and of the vitality of the biohealth and biotech sectors in Montgomery County,” said County Executive Isiah Leggett. “Commercialization of technology is the linchpin that transforms ideas into businesses and benefits for the public. I congratulate BHI on this award and look forward to more great work from it.”

V-COMM is designed to drive technology development and develop entrepreneurial practices in the areas of medical technology, vaccines, and bioHealth cybersecurity within the biohealth industry of Maryland. V-COMM’s expansion from this grant will enable BHI to review a greater number of technologies, and help to spur the development of new companies, while raising capital, and creating jobs.
“We are thrilled to have BioHealth Innovation as a partner in actively growing our biohealth economy,” said Councilmember Nancy Floreen. “This new EDA grant represents the fabulous work BHI is doing on a regional basis.”

“This 2015 Regional Innovation Strategy cohort of grantees is truly an exciting group – the diversity in programs and regional representation proves that innovation and entrepreneurship are igniting all corners of the country,” Assistant Secretary Williams said. “From Puerto Rico to Pittsburgh, and Seattle to Blacksburg, these programs will reach all kinds of communities and help entrepreneurs gain the edge they need to succeed.”

About BioHealth Innovation, Inc.
BioHealth Innovation, Inc., is a regional innovation intermediary focused on commercializing market-relevant bio-health innovations and increasing access to early-stage funding in Maryland. BHI is known for providing commercial assistance to scientists and founders, educating and infusing Maryland’s life science community with new and young entrepreneurs and fueling startups within Central Maryland’s bio-ecosystem by connecting young companies to funding and business resources. Learn more at www.biohealthinnovation.org.

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Media contact:
BioHealth Innovation, Maryland, USA
Rich Bendis, President & CEO, Phone: 301-637-6439, e-mail: rbendis@biohealthinnovation.org

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Corvidia Therapeutics Raises $26M in a Series A Financing, Led by Sofinnova Partners and Apple Tree Partners – BHI’s EIR Ram Aiyar Joins the Team

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Corvidia Therapeutics, a biotechnology company focused on the development of precision cardiovascular therapies, announced today that it has raised $26 million in a Series A financing, co-led by seed-investor Sofinnova Partners, and Apple Tree Partners.

Concurrent with the financing, Corvidia has licensed a clinical stage compound from AstraZeneca to develop and commercialize as its lead therapeutic (COR-001).  Funds from the Series A financing will be used to progress COR-001 into Phase I/II clinical trials during 2016, as well as to advance the company’s preclinical pipeline.

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U.S. Secretary of Commerce Penny Pritzker Announces BHI Awarded Grant to Advance Innovation Across Maryland

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Today, U.S. Secretary of Commerce Penny Pritzker announced the 25 awardees that will receive $10 million under the Economic Development Administration’s (EDA) 2015 Regional Innovation Strategies (RIS) program. The 2015 RIS program is managed by EDA’s Office of Innovation and Entrepreneurship (OIE) and is designed to advance innovation and capacity-building activities in regions across the country through two different competitions: the i6 Challenge and the Seed Fund Support (SFS) Grants competition.

“As the driving force behind the Administration’s focus on entrepreneurship, the Department of Commerce is committed to helping set the conditions for innovators and entrepreneurs to test new ideas, take risks, find financing and customers, and ultimately thrive,” said Secretary Pritzker. “The Regional Innovation Strategies program is critical to ensuring that entrepreneurs have access to the tools they need to move their ideas and inventions from idea to market.”

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BHI’s President and CEO Rich Bendis Appointed to Maryland Life Sciences Advisory Board

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– Several BHI Board Members and Designees Among Those Appointed by Governor Hogan

– Chancellor Robert L. Caret Joins BHI Board of Directors as Representative for the University System of Maryland (USM)

Md dept commerce bendis rotator

Rich Bendis, BioHealth Innovation, Inc. (BHI) President and CEO, was recently appointed to serve on Governor Larry Hogan’s Maryland Life Sciences Advisory Board (LSAB). Mr. Bendis is one of 16 individuals who represent Maryland’s key federal, academic and industry organizations on the LSAB.

Several members of the BHI Board of Directors, including Dan Abdun-Nabi, President and CEO of Emergent BioSolutions Inc. (who also serves as LSAB Chair); Doug Liu, Senior Vice President and Head of Global Operations at Qiagen Sciences Inc.; and Mike Gill, Secretary of the Maryland Department of Commerce, were also among those newly appointed to the LSAB. BHI Board alternate designees Christy Wyskiel, Senior Advisor to the President of Johns Hopkins University, and Jarrod Borkat, MedImmune’s Head of External Collaborations, Biotech Hubs and Government Contracting, are also new LSAB appointees.

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Governor Hogan Appoints Life Sciences Board Members; BHI President and CEO Rich Bendis named to board

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Sixteen leaders from key federal, academic and industry organizations have been appointed by Governor Larry Hogan to the Maryland Life Sciences Advisory Board (LSAB).

The new appointees include a patient advocate, executives from global life sciences companies with U.S. headquarters in Maryland, small biotechnology companies, and leaders from the University of Maryland, University of Maryland Baltimore, Johns Hopkin University, Montgomery College, NIH, FDA and the U.S. Army Medical Research and Material Command.

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DC Startup Accelerators to Watch: Relevant Health, Halcyon, Bunker Labs & More – DC Inno

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The D.C. area is home to a number of great startup accelerators that can really make a difference for young companies. The right program can provide the resources and advice that entrepreneurs need to transform what may be a great idea into a viable product and thriving startup. Check out a few of the newer and vertical-specific accelerator programs in the D.C. area that you should keep an eye on in 2016.

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Mimetas and Partners Receive 1.6 Million Dollar Industry Funding for Development of Organ-On-A-Chip Neurotoxicity Models

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Leiden-based biotechnology company Mimetas has received 1.6 million USD funding for development of an organ-on-a-chip model for neurotoxicity. The aim of the project is to improve existing neurotoxicity tests and to reduce experimentation on animals. A panel of experts from BASF, Sanofi, GlaxoSmithKline, Abbvie, NC3Rs and renowned academic institutions has selected the Mimetas solution from a lineup of strong competitors. Mimetas will lead the consortium, which also includes the Institute for Risk Assessment Sciences (Utrecht, The Netherlands) and Cellular Dynamics International (Wisconsin, USA).

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