Category: Finance
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NIH Establishes Medical Translational Science Center
The federal 2012 fiscal year spending bill passed by Congress and signed by President Obama before Christmas includes approval for National Institutes of Health (NIH) to form a new research center devoted to turning discoveries in the lab into new drugs, diagnostics, and devices. The National Center for Advancing Translational Sciences (NCATS), with a budget…
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Biotech Lands $30 Million Late Stage Investment
Acceleron Pharma Inc. in Cambridge, Massachusetts says it raised $30 million in private financing from its current investors and one of its drug development partners. The funds, says Acceleron, will advance its clinical stage drug pipeline, as well as its overall research agenda. The company develops therapies based on the transforming growth factor beta (TGF-beta)…
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Energy Dept to Fund R&D on Vehicle Charging Stations
The U.S. Department of Energy (DoE) announced grants totaling some $7 million for research and development to help improve the performance and flexibility of electric vehicle chargers on the nation’s power grids. The funds will go to electric vehicle (EV) charging station manufacturers in California, Pennsylvania, New York, and New Jersey, who are expected to…
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FDA Approves Portable Device to Spot Brain Bleeding
The Food and Drug Administration approved last week a hand-held device designed to detect bleeding in the skull, a life-threatening condition. The device, called the Infrascanner, is based on research conducted at University of Pennsylvania and Baylor College of Medicine, and funded in part by the U.S. Office of Naval Research. The Infrascanner detects intracranial…
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Life Science Venture Fund Raises $313 Million
Burrill & Company in San Francisco announced today a new life sciences investment fund with commitments so far totaling $313 million. The company says its Burrill Capital Fund IV plans to make early to late stage investments in therapeutics, diagnostics, medical devices, health care delivery, wellness, and digital health. CEO G. Steven Burrill says the…
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Vanderbilt Team Develops Simple Medical Test Prep Device
Researchers at Vanderbilt University in Nashville are developing a medical collection and preparation system that promises to bring diagnostic testing to the poorest areas of the world. The device, called the Extractionator, is the product of Vanderbilt biomedical engineer Rick Haselton, chemist David Wright, and biochemist Ray Mernaugh. Haselton, Wright, and Mernaugh received a $1…
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European Grant Awarded for Research on Enhanced MRI
A chemistry professor at University of Southampton in the U.K. has received a grant for research on enhanced nuclear magnetic resonance (NMR), a principle underlying magnetic resonance imaging (MRI), widely used in medical diagnostics. Malcolm Levitt and colleagues at Southampton were awarded a four-year, €2.8 million ($US 3.8 million) grant from the European Research Council…
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Biotech Secures $20 Million in Early Stage Financing
ImmusanT Inc. in Cambridge, Massachusetts has received $20 million in early stage financing to develop its therapy and diagnostic tools for celiac disease. The funds from venture capital firm Vatera Healthcare Partners LLC are expected to support further research and development of the company’s Nexvax2 therapeutics and diagnostics to a proof-of-concept demonstration. ImmusanT’s Nexvax2 therapeutic…
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NSF Grant to Fund Smartphone App for Diabetes Control
A business and engineering team from Worcester Polytechnic Institute in Massachusetts has received a $1.2 million grant to develop a smartphone application for people with advanced cases of diabetes. The project, funded by the National Science Foundation, is a collaboration between Worcester’s Healthcare Delivery Institute and the University of Massachusetts Medical School, also in Worcester.…
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Mobile Tech Developer Raises $15M in Expansion Round
The Cambridge, U.K. mobile technology developer ip.access says it has closed a new $15 million round of funding from its current investors in the U.S. and Europe. The company makes small and low-power cellular base stations that boost signal coverage for mobile Internet devices. The collection of ip.access’s current investors all participated, including Amadeus Capital…