Category: Finance
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Breakout Labs Backs Tissue Engineering, Diagnostic Start-Ups
Breakout Labs, an early-stage revolving fund for life sciences start-ups, revealed three new grant recipients planning to develop solutions with advanced technologies. Breakout Labs is a program of the Thiel Foundation, founded by entrepreneur and investor Peter Thiel — co-founder of PayPal and early venture backer of Facebook — in October 2011. The new recipients…
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Biopharm Raises $80 Million in Series C Venture Funds
Relypsa Inc., a clinical stage biopharmaceutical company in Santa Clara, California raised $80 million in series C venture funds, the third round of financing after initial start-up. New investor Sibling Capital LLC joins current backers OrbiMed Advisors, 5AM Ventures, New Leaf Venture Partners, Sprout Group, Delphi Ventures, and Mediphase Venture Partners in this funding round.…
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NIH Grant to Fund Translational Research on Blood Clotting
National Institutes of Health will fund a translational research center at University of Utah in Salt Lake City to study the cellular and molecular causes of blood clots. Andew Weyrich, a professor medicine at Utah, will lead the five-year, $16 million effort. The new Translational Research Center in Thrombosis aims to find new diagnostic, preventative,…
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UC San Diego, Yale to Build Neuroscience Gateway
University of California in San Diego and Yale University are developing an online gateway to provide high-performance computational tools for neuroscientists. The Neuroscience Gateway project is funded by a three year, $707,000 grant from National Science Foundation. UC San Diego will make available its supercomputer center and Neuroscience Information Framework for neuroscientists to access advanced…
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NSF Grant to Fund R&D on Wireless Network Chip Connections
Engineers at Drexel University in Philadelphia are developing semiconductors using wireless connections in a network to exchange data among the chip’s components. The project is funded by a three-year $400,000 grant from National Science Foundation’s Electrical, Communications, and Cyber Systems division. The research is led by electrical engineering professor Baris Taskin (pictured left), who directs…
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NASA Awards Contracts for Commercial Human Space Flights
NASA signed new agreements today with three American companies to design and develop the next round of U.S. human space flights, succeeding the Space Shuttle and leading to a launch of astronauts from U.S. soil in the next five years. The agreements, which call for a base development period of 21 months, were made through…
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ARPA-E to Fund $43 Million for Energy Storage R&D Projects
Advanced Research Projects Agency-Energy (ARPA-E), in the U.S. Department of Energy, will support 19 new research and development projects to improve the management of energy storage technologies for vehicles and electrical power grids. The projects, totaling $43 million, will be funded out of the Energy Department’s Advanced Management and Protection of Energy Storage Devices (AMPED)…
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Biotech Chemical Company Raises $41.5M in Venture Funds
Genomatica, a developer of chemicals from renewable feedstocks in San Diego, raised $41.5 million in series D financing, the fourth cycle of venture funding after start-up. The round includes the Italian chemical company and new corporate partner Versalis, with existing investors Alloy Ventures, Draper Fisher Jurvetson, Mohr Davidow Ventures, TPG Biotech, VantagePoint Capital Partners, and…
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Biopharm Gains SBIR Grant for Cystic Fibrosis Treatment
OrPro Therapeutics Inc., a biopharmaceutical company in San Diego, received a Small Business Innovation Research (SBIR) grant from National Institutes of Health, to advance development of its lead product, ORP-100, for the treatment of cystic fibrosis. The company did not disclose the amount of the award from the National Heart, Lung and Blood Institute of…
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Life Science Analytics Start-Up Generates First Sales
Tymora Analytical Operations LLC, a developer of analytic technology for drug development in West Lafayette, Indiana, says the company is generating its first sales income after only two years in business. The Purdue University spin-off licenses research done by biochemist W. Andy Tao (pictured left), who also serves as Tymora’s chief scientist. The company is…