Category: Finance
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White House Issues Outline for Bioscience-Based Economy
The Office of Science and Technology Policy in the White House today released a national Bioeconomy Blueprint that it says will harness biological research to address national priorities. The plan outlines actions to be undertaken by federal agencies. No mention is made of new legislation, although the administration’s latest budget submission identified as a priority…
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Government-Industry Consortium Selects U.K. Cereals Studies
A committee of the Biotechnology and Biological Sciences Research Council (BBSRC) selected nine new research projects for funding that involve the U.K.’s main cereal crops: oilseed rape, barley and wheat. The funds for the research total some £4 million ($6.45 million) from Crop Improvement Research Club, a consortium of BBSRC, Scottish government, and 14 private…
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Biopharm Lands $25M Venture Funding for Phase 3 Trial
Argos Therapeutics Inc., a biopharmaceutical company in Durham, North Carolina, says it secured $25 million in series D venture financing, the fourth funding installment after initial start-up. The funds are expected to support a planned clinical trial of Argos Therapeutics’ immunotherapy for metastatic renal cell carcinoma, a form of kidney cancer. The financing was led…
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AstraZeneca to Acquire Biotech for $1.26 Billion
The global pharmaceutical maker AstraZeneca says it will acquire Ardea Biosciences Inc., a biotechnology company in San Diego developing small molecule therapies. The deal is valued at $1.26 billion, with AstraZeneca paying $32.00 a share, a 54 percent premium over Ardea’s closing price on Friday 20 April. Ardea’s most advanced drug candidate is lesinurad taken…
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Computer Model to Predict Hip Fracture Risk
Researchers at University of Arizona in Tucson are developing a computer model to predict which people are most at risk of a hip fracture. The study, led by engineering professor Samy Missoum and epidemiology and biostatistics professor Zhao Chen (pictured left), is funded by a two year, $357,982 grant from the National Institute of Arthritis…
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U.S. Venture Deals, Dollars Decline in Q1 2012
Companies in the U.S. raised less money in fewer venture capital deals during the first three months of 2012 compared to the same period last year, according to data compiled by Dow Jones VentureSource. Some science-based sectors fared better than others during this period, while venture capital (VC) investors generally showed more interest this year…
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Biotech Company Secures $38 Million Series D Funds
Alder BioPharmaceuticals Inc. in Bothell, Washington says it closed $38 million in financing today to support clinical studies of its two lead compounds. The series D round, the fourth financing installment after initial start-up, is led by Novo Ventures, the venture capital subsidiary of Danish pharmaceutical maker Novo Nordisk. Alder BioPharmaceuticals has developed an antibody production…
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Breakout Labs Makes First Early-Stage Science Company Grants
Breakout Labs, a revolving investment fund in San Francisco that aims to support early-stage enterprises developing radical new technologies, announced its first six grants yesterday. The fund is backed by the Thiel Foundation, established by entrepreneur Peter Thiel, a founder of online payments service PayPal and an early investor in Facebook. All of the recipient…
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Nutritional Enzyme Maker Secures $10M Early-Stage Financing
Alcresta, in Newton, Massachusetts, has closed a $10 million series A financing round, the first funding installment after start-up. Investors are led by the venture capital firms Bessemer Venture Partners, Frazier Healthcare, and Third Rock Ventures. The company develops and commercializes enzyme-based nutritional products designed to improve the health of and manage disease for infants,…
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Infectious Disease Diagnostics Company Lands Series B Funds
Molecular Detection Inc. in Wayne, Pennsylvania, a company developing tests for diagnosing infectious diseases, says it has completed a new $1.9 million round of series B financing, the second funding installment after initial start-up. All existing investors, says the company, took part in the round, including MentorTech Ventures, Robin Hood Ventures, Elm Spring Holdings, and…