Category: Finance
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Membrane Technology to be Studied for Industrial Processes
Engineers and materials scientists at University of Minnesota in Minneapolis received funding from the U.S. Department of Energy to develop membrane technology for energy-efficient separations in a range of process industries. The three-year, $1.8 million grant from the Advanced Research Projects Agency–Energy (ARPA-E) aims to adapt lab research on nanotechnology for membranes that can improve…
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University, Corporation Partnering on Paint-Stripping Robots
National Robotics Engineering Center at Carnegie Mellon University in Pittsburgh and Concurrent Technologies Corporation in Johnstown, Pennsylvania are developing robotic systems with lasers to strip paint from aircraft. The two-year project is funded by a contract from the National Defense Center for Energy and Environment, part of the U.S. Department of Defense, with participation from the…
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Electric Bus Developer Lands $23 Million in Series B Funds
Proterra Inc. in Greenville, South Carolina, a developer of electric buses for public transportation, secured $23 million in series B funds, the second round of venture financing after initial start-up. New investor Hennessey Capital led the round, with new investor NMT Capital, and current investors Kleiner Perkins Caufield & Byers, GM Ventures, Mitsui & Co.…
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Gene Therapy Biotech Secures $37.5 Million in Venture Funds
Applied Genetic Technologies Corp., a biotechnology company in Gainesville, Florida, gained $37.5 million in series B funds, the second round of financing after initial start-up. Alta Partners and S.R. One Ltd led the financing, with new investor Osage University Partners joining existing investors InterWest, Intersouth Partners, and MedImmune Ventures in the round. Applied Genetic Technologies…
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U.K. Devotes £60 Million for Science Entrepreneurship
The Engineering and Physical Sciences Research Council or EPSRC in the U.K. is funding 31 projects at British universities to encourage scientists to become new or better entrepreneurs. The £60 million ($US 95.3 million) program was announced today by Vince Cable, U.K.’s Secretary of State for Business, Innovation and Skills. Under the program, EPSRC is…
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Rice, Baylor to Study Hydrogel, Stem Cell Scaffolding
Researchers at Rice University in Houston and Baylor College of Dentistry in Dallas received a National Institutes of Health grant to develop an injectable hydrogel that forms an active biological scaffold for tissue repair in a patient. The $1.7 million, five-year project will focus on the regeneration of the dentin-pulp complex found inside human teeth.…
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Cancer Diagnostics Biotech Lands $13 Million Series B Funds
Epic Sciences Inc., a biotechnology diagnostics developer in San Diego, secured $13 million in series B financing, the second round of venture funding after initial start-up. The funding round includes new investors Domain Associates, Roche Venture Fund, and Pfizer Venture Investments, as well as undisclosed individual participants. Epic Sciences exclusively licensed research by the lab…
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Genomics Institute to Back Umbilical Cord Stem Cell Company
Ontario Genomics Institute in Toronto, Canada is investing in Tissue Regeneration Therapeutics, also in Toronto, a company developing a technology for medical treatments with stems cells extracted from umbilical cords. Financial aspects of the investment were not disclosed. The technology developed by Tissue Regeneration Therapeutics uses human umbilical cord perivascular cells or HUCPVCs that are extracted…
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VC, University Partner on Medical Device Start-Up Company
George Washington University in Washington, D.C., and venture capital company Allied Minds Inc. in Boston, formed LuxCath LLC, a new company that makes a device for increasing the speed and safety of surgery for irregular heartbeat. LuxCath’s technology is based on research by faculty at George Washington’s medical school and engineering department. LuxCath is developing…
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Takeda Pharma to Acquire Envoy Therapeutics
Takeda Pharmaceuticals, in Osaka, Japan, will acquire the drug discovery company Envoy Therapeutics in Jupiter, Florida for $140 million. Takeda says the merger will mean moving Envoy’s management and scientific staff to Takeda’s San Diego offices after March 2013. Envoy was founded by biophysicist and 2000 Nobel prize winner Paul Greengard, and Rockefeller University colleague…