Category: Finance
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Mylan Acquires Generic Injectables Manufacturer for $1.6B
Mylan Inc., a producer of generic and specialty branded drugs in Pittsburgh, will acquire Agila Specialties in Bangalore, India, a developer of generic inectable drugs and division of Strides Arcolab Ltd. Mylan will pay $1.6 billion cash for Agila Specialties, with up to $250 million in contingent payments possible later on. Mylan offers some 1,100…
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Gastric Model Lands Funding for Expanded Applications
An artificial digestive system developed at the Institute of Food Research in Norwich, U.K. for lab tests of physical and biochemical processes in the human stomach and intestines, secured more than £900,000 ($US 1.4 million) for research on new models of nutritional quality and health benefits. The two-year grant is provided to the Institute of…
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Research on Insects Leads to Forestry Biochemical Start-Up
Biochemical researchers at University of Nevada in Reno started a company making compounds to control forest pests, based on their research in insect enzymes. Rubi Figueroa-Teran and Claus Tittiger, in Reno’s College of Agriculture and Biotechnology, started the company EscaZyme Biochemicals and were invited to join National Science Foundation’s Innovation Corps (I-Corps) to get the…
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Grant to Fund Patient-Sourced Health Outcome Measures
PatientsLikeMe, a health data-sharing network and platform in Cambridge, Massachusetts, received a $1.9 million grant from the Robert Wood Johnson Foundation to establish a system for involving patients in the development of health outcome measures. Paul Wicks, PatientsLikeMe’s research director (pictured right), is scheduled to describe the project today at the TED2013 conference in Long…
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NSF Adding Three I-Corps University Innovation Centers
National Science Foundation is adding three regional consortiums under its Innovation Corps (I-Corps) program to encourage campus entrepreneurship from university research. The three awards going to university I-Corps nodes in and around San Francisco, Washingon, D.C., and New York City total some $11.2 million. I-Corps aims to help academic scientists funded through NSF make the…
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USDA Funding Research on Sustainable Organic Rice Farming
Texas AgriLife Research, a division of Texas A&M University in College Station, is conducting research on sustainable techniques to improve yields of high-quality organic rice. The work led by Fugen Dou, a soil and crop science professor at AgriLife’s lab in Beaumont, is funded by two U.S. Department of Agriculture grants totaling $952,000 that run…
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Implant Drug Delivery Company Lands $9.5M Venture Funds
PolyActiva in Melbourne, Australia, a developer of a nanoscale drug delivery technology for medical implants, raised $AU 9.2 million ($US 9.5 million) in series B venture funds, the second financing round after initial start-up. Investors include the Australian venture funds Medical Research Commercialisation Fund, Brandon Biosciences Fund 1, and Yuuwa Capital, as well as a…
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Challenge Seeks Discontinued Drugs to Treat Rare Diseases
A new challenge on InnoCentive asks for ideas on repurposing drugs no longer in development as therapies for rare diseases other than cancer. The sponsor of the competition, an unnamed biopharmaceutical company, will award a total purse of $10,000 to the best proposals. The deadline for submissions is 11 March 2013 (free registration required). Rare…
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GE, Vanderbilt to Partner on Colon Cancer Research
GE Global Research, a division of General Electric Company, and Vanderbilt University’s Ingram Cancer Center in Nashville are collaborating on research to better understand the formation of colon cancer tumors at the level of individual cells. The study is funded by a five-year, $3.75 million grant from National Institutes of Health (NIH). Better cancer diagnosis…
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Space Data Start-Up Raises $1.3M from Angels, Crowdfunding
NanoSatisfi, a start-up company in San Francisco offering low-priced space-based data services, raised $1.2 million in seed capital, to go along with more than $100,000 collected last summer through crowdfunding. The company announced the funding round yesterday on Twitter, with details reported on the technology and business news Web site TechCrunch. Anthony Ha of TechCrunch…