Category: Finance
-
Biotech Secures $25 Million in Series B Financing
AlloCure Inc., a privately-held biotechnology company in Burlington, Massachusetts, says it has closed a $25 million deal for series B venture financing. The series B round — the second financing installment after initial start-up — includes new syndicate member Lundbeckfond Ventures, as well as previous investors SV Life Sciences and Novo A/S. The company is…
-
Challenge Seeks Risk Assessment Tool for Microloan Denials
A new challenge from InnoCentive calls for a tool to gauge the financial risk of people and organizations that were denied a microloan for their business. The challenge has a prize of $40,000 and a deadline of 30 May 2012. InnoCentive in Waltham, Massachusetts is a company the conducts open-innovation, crowd-sourcing competitions for corporate and…
-
BASF to Boost R&D Spending, Staffing
The global chemical company BASF in Ludwigshafen, Germany says it plans to increase its research and development spending to €1.7 billion ($2.3 billion) in 2012, and align its R&D programs more closely with high-growth business fields. The company also announced plans to increase its research staff, particularly in Asia and the Americas. The €1.7 billion…
-
Private Equity Company Founds $50M Biologics Start-Up
Celtic Therapeutics, a private equity company in the U.S. and Europe, has started a new company to bring to market therapies based on antibody drug conjugates (ADCs) that bind to and kill cells with the targeted properties. The new company, known as ADC Therapeutics and based in Lausanne, Switzerland will have an initial investment of…
-
Virginia Tech to Establish Auto Tire Research Center
Virginia Tech in Blacksburg is setting up a new research center devoted to the study of vehicle tires. The Center for Tire Research, which will involve collaborations with other institutions and tire and auto companies, gets its initial funding from a National Science Foundation (NSF) grant. The tire research center is expected to focus on…
-
Grants to Fund Brain-Hand Neural Connections Research
Grants from the National Science Foundation will fund research into sensory and cognitive connections between the brain and the hands that can lead to new prosthetic devices and treatments. The NSF funds totaling $640,000 will support research by Arizona State University biomedical engineering professor Marco Santello and Columbia University kinesiology professor Andrew Gordon. Santello’s research…
-
GSK, Johnson & Johnson Join in Life Science Venture Fund
The London-based venture capital company Index Ventures unveiled a new investment fund for early-stage life sciences companies, with pharmaceutical companies GlaxoSmithKline and Janssen, a division of Johnson & Johnson, among the investors. The Index Life VI fund, valued at €150 million ($US230 million), is the first for Index Ventures devoted solely to the life sciences.…
-
Grant to Fund Electric Power Market Optimization Research
Iowa State University in Ames says three of its engineering faculty will receive $1.7 million from the U.S. Department of Energy to study new ways of scheduling and pricing electric power. ISU is the lead institution in a $3 million project involving Sandia National Laboratories, University of California at Davis, power grid systems company Alstom…
-
Unilever Launches Open Innovation Initiative
The consumer goods manufacturer Unilever unveiled today its open innovation program seeking ideas for new products and technologies from the public at large. The initiative is managed by the online intellectual property marketplace yet2.com. Unilever’s program is structured around a set of issues or problems for which it seeks collaborators to find solutions. The opening…
-
Agilent to Develop Salmonella, Fish Species Tests for FDA
Agilent Technologies Inc. in Santa Clara, California, a developer of instrumentation for chemical and life science analysis, unveiled its agreement with the U.S. Food and Drug Administration to develop new tests for the agency’s regulation of food. One set of tests for FDA will identify salmonella more precisely, while a different test suite will use…