Category: Finance
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Challenge Seeks Point-of-Care Staph Bacteria Detector
A new challenge on InnoCentive asks for ways to quickly diagnose Staphylococcus aureus bacteria colonies in the nose and throat of patients with point-of-care devices. The competition, sponsored by the Cleveland Clinic, has a prize of $20,000 and a deadline for submissions of 27 August 2013. InnoCentive in Waltham, Massachusetts conducts open-innovation, crowd-sourcing competitions for…
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Celgene, MorphoSys Partner on Multiple Myeloma Antibody
Celgene Corporation, a biopharmaceutical company in Summit, New Jersey, agreed to license technology and invest in the biotechnology company MorphoSys AG in Munich, Germany for commercializing a monoclonal antibody developed by MorphoSys to treat multiple myeloma and some forms of leukemia. The total potential value of the deal, if all contingencies are met, is €628…
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VC Fund Gains $100M for University, Defense Lab Spinoffs
Allied Minds, a venture capital (VC) company in Boston starting companies that commercialize research from university and U.S. federal labs, raised $100 million for its next series of investments. The company says closing this funding round brings its total assets to about $500 million. Allied Minds makes early-stage investments, sometimes soon after the point of…
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Biotech Developing Genetics Therapies Gains $101M in IPO
The biotechnology company bluebird bio in Cambridge, Massachusetts developing therapies for genetic disorders raised $101 million through its initial public offering (IPO) of 5.9 million shares priced at $17.00 a share. The company’s stock, trading on the NASDAQ under the code BLUE was priced at $26.00 a share at 11:00 am ET today. bluebird bio…
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Pharmas, Academics Partner on New Treatments from Old Drugs
Researchers from pharmaceutical companies and academic labs are partnering on finding therapies for eight types of diseases from drugs tested to treat other disorders. The $12.7 million pilot program, led by National Center for Advancing Translational Sciences (NCATS), part of National Institutes of Health, funds nine separate projects combining industry and university scientists for up…
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GE Unveils Two Challenges on 3-D/Additive Manufacturing
General Electric Company is holding two challenges that seek ideas and solutions from the science and engineering communities on three-dimensional printing applied to manufacturing. The company unveiled the competitions yesterday at the 2013 RAPID conference on additive manufacturing — a generic name for industrial 3-D printing — in Pittsburgh. Both challenges have an initial…
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Kidney Disease Technology Start-Up Lands $9.5M Venture Funds
TVA Medical Inc., a developer of devices in Austin, Texas to treat end-stage renal disease, secured $9.5 million in series B venture funds, the second round of financing after initial start-up. Austin-based S3 Ventures, an early-stage venture capital company, led the round with TriStar Technology Ventures and existing investor Santé Ventures. End-stage renal disease occurs…
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Science Business Content Partner: The Life Sciences Report
Science Business is pleased to offer a new feature, the latest entries from the investment newsletter, The Life Sciences Report, published by Streetwise Reports. The Life Sciences Report features interviews with investment experts in biotechnology, pharmaceuticals, medical devices, and diagnostics. Science Business aims to provide breaking news developments in the science and business of the…
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AstraZeneca Acquires Respiratory Disease Therapy Developer
The global pharmaceutical company AstraZeneca is buying Pearl Therapeutics in Redwood City, California, a developer of treatments for chronic respiratory diseases. The deal is valued initially at $560 million, but has a total potential value of $1.15 billion, adding in subsequent milestone and royalty payments. The seven year-old Pearl Therapeutics develops small-molecule treatments for chronic…
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St. Jude Medical Invests in Pain Therapy Device Developer
Medical device manufacturer St. Jude Medical in St. Paul, Minnesota is investing $40 million in pain therapy systems developer Spinal Modulation Inc. in Menlo Park, California. The equity investment deal, says St. Jude Medical, includes an option for the outright purchase of the privately-owned Spinal Modulation. Under the agreement, St. Jude Medical becomes the exclusive…