Category: Finance
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HHS Awards First Health Care Innovation Awards
The U.S. Department of Health and Human Services revealed the first group of universities, companies, and medical centers to receive Health Care Innovation awards. The three-year cooperative agreements, authorized by the Affordable Care Act, total $122.6 million and are administered through HHS’s Center for Medicare and Medicaid Innovation. The department says the 26 awardees were…
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UC-Davis Incubator Spins Off Audio Technology Company
The business incubator at the University of California in Davis engineering school says an audio technology company is the incubator’s first spin-off to gain funding and begin doing business on its own. Dysonics, founded by emeritus engineering professor Ralph Algazi and colleagues at UC-Davis, is commercializing research conducted in Algazi’s labs. Dysonics plans to develop…
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Biotech Lands $20M Series A Funds for Protein Therapies
Eleven Biotherapeutics in Cambridge, Massachusetts has secured an additional $20 million in series A funds, the first round of investment financing after initial start-up. A new investor, JAFCO Company Ltd in Tokyo, joins existing investors Third Rock Ventures and Flagship Ventures in the deal. Eleven Biotherapeutics is expected to use the proceeds from the financing…
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Investors to Back Start-Ups That Cut Health Care Costs
The Paliwoda Group in New York has started a new investment fund that plans to support early-stage companies with solutions aimed at cutting the costs of health care. The company’s Health Tech Fund is now accepting proposals on its Web site. The Health Tech Fund plans to invest in early-stage companies with projects having the…
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Challenge Seeks Solution for Tracking Electronic Waste
A challenge on InnoCentive seeks solutions for tracking shipments of used electronic components and subsystems and ensuring that they are disposed responsibly. The crowd-sourced contest will award prizes totaling $10,000 and has a deadline extended to 3 June 2012. The challenge is co-sponsored by IT services company EMC Corporation and the Environmental Defense Fund. Participants…
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Three Drug Makers Partner with NIH to Expand Therapies
National Institutes of Health and three pharmaceutical manufacturers will collaborate on research to find new treatments for diseases from currently approved drugs. Pfizer, AstraZeneca, and Eli Lilly and Company will make at least 20 of their existing compounds available for this research to NIH’s National Center for Advancing Translational Sciences (NCATS). The program, called Discovering…
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Cancer Institute Spin-Off Lands New €3 Million Financing
iTeos Therapeutics SA, a drug discovery company in Gosselies, Belgium, has secured €3 million ($3.94 million) in series A financing, the first investment round after starting up. The company received its initial seed funding, totaling €6 million, in December 2011. iTeos Therapeutics is a joint spin-off company of the Ludwig Institute for Cancer Research in…
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SBIR Grant Awarded for Infant Respiratory Vaccine
GenVec Inc. in Gaithersburg, Maryland received a Small Business Innovation and Research (SBIR) grant from the National Institute of Allergy and Infectious Diseases at National Institutes of Health to help fund development of the company’s vaccine against respiratory syncytial virus. The phase 1 SBIR grant is valued at some $590,000. Respiratory syncytial virus (RSV) infects…
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NIH Funding Portfolio Evaluated With Investment Metrics
An interdisciplinary team of business, computer science, and medical researchers tested funding decisions at National Institutes of Health over a 42-year period using measures of investment efficiency from the world of finance. The findings of the team from Massachusetts Institute of Technology, Brigham and Women’s Hospital, and the investment management firm AlphaSimplex LLC in Cambridge,…
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Clinical Trial to Test Varied Hypertension Drug Dosage
Researchers at University of Rochester Medical Center in New York are testing if a lower dose of an common blood pressure medicine can provide the same benefits as a standard dose in people with mild hypertension. The new clinical trial is funded with a $1.9 million grant from the National Heart Lung and Blood Institute,…