Category: Finance
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Diagnostics Developer Secures $100M Series C Financing
Biocartis, a diagnostic systems company in Lausanne, Switzerland says it completed raising €71 million (US$100 million) in series C equity funds, led by the company’s senior management and backed by current and new investors, as well as industrial collaborators. Series C financing is the third round of equity funding after start-up. Biocartis develops compact molecular…
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Biotech Start-Up Lands $15M Series A Round
Allena Pharmaceuticals Inc. in Newton, Massachusetts, a biotechnology start-up company, says it has secured $15 million in Series A venture capital financing, the first round of funding after seed capital. The company was founded by Alexey Margolin and Robert Gallotto, former executives at Alnara Pharmaceuticals that was acquired by Eli Lilly and company in July…
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Intel Corp. to Fund 3D Computer Processing Unit Development
Computer engineers at North Carolina State University in Raleigh are developing a three-dimensional central processing unit (CPU) that aims to increase energy efficiency by 15 percent. The project, funded by a $1.5 million grant from the Intel Corporation, is led by Paul Franzon, a professor of electrical and computer engineering at NC State. A 3D…
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FDA Funds Evaluation of Pain Drug Clinical Trial Methods
The Food and Drug Administration is funding a study by researchers at University of Rochester in New York and University of Washington in Seattle to find different ways of evaluating drugs designed to relieve acute and chronic pain. The grant of up to $4.5 million over five years aims to better understand why few new…
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GSK to Fund Canadian Life Sciences Start-Ups, Institutes
The global pharmaceutical company GlaxoSmithKline Inc. (GSK) announced in Toronto a new $50 million fund for early stage life sciences research in Canada. GSK says the Canada Life Sciences Innovation Fund will identify investment opportunities at Canada’s academic and health institutions, translational research centers, and start-up companies. Paul Lucas, president of GlaxoSmithKline Canada, calls the…
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National Lab Developing Alternatives to Rare Earth Materials
The Ames Laboratory in Iowa is developing alternatives to rare earth materials in two separate projects funded by the U.S. Department of Energy — one material for use in permanent magnets for electric vehicles, and the other material a manganese-based alternative to rare earths. The Ames Laboratory is a national lab under Department of Energy’s…
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Technology Funded to Assess Superfund Site Contamination
Researchers at Arizona State University in Tempe and University of Florida in Gainesville received funding to develop a device to measure toxic sediments with greater precision, accuracy and sensitivity. ASU’s Rolf Halden (pictured right) and Florida’s Nancy Denslow will test the device, and also evaluate health effects on two marine organisms and assess remediation efforts…
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Universities, Companies Partner on Data Center Power Use
Three U.S. universities have joined with 15 companies in a collaborative research center to increase energy efficiency and help create a greener electronics industry. Researchers at Binghamton University in New York, Villanova University in Pennsylvania, and University of Texas at Arlington are the institutions taking part in the Industry/University Cooperative Research Center in Energy-Efficient Electronic…
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University Spin-Off Lands Radiation Countermeasure Contract
RxBio Inc., an early stage biotech company spun off from the University of Tennessee Health Science Center (UTHSC) in Memphis, has received a contract from Biomedical Advanced Research and Development Authority for the company’s radiation countermeasure drug. The contract has a potential value of $24 million over the next two years. The contract, with a…
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Gates Foundation, Grand Challenges Canada Fund TB Diagnostic
A device called an Electronic Nose that can detect tuberculosis in the breath of a patient, has received a $950,000 grant from Grand Challenges Canada and the Bill & Melinda Gates Foundation. The funding will support further development and testing of the technology, developed by the International Centre for Genetic Engineering and Biotechnology (ICGEB) in…