Category: Finance
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Small Business Grant Awarded for Tuberculosis Test
Chembio Diagnostics Inc. in Medford, New York has received a three-year $2.9 million Small Business Innovative Research (SBIR) grant from the National Institutes of Health (NIH) to continue development of a simple, rapid, inexpensive, and accurate blood serum test for tuberculosis. The grant funds further development of the test, following an earlier SBIR grant to…
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DuPont Expanding Agricultural Research in Delaware
The chemical company DuPont plans to expand its biotech research on soybeans at its Delaware facilities. The $50 million expansion is expected to create 75 new, full-time positions in Delaware by the end of 2015. The proposed investment will include expanding biotech research facilities at DuPont’s research and development headquarters, the Experimental Station, in Wilmington…
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Finance Friday: 18 February 2011
Here are recent angel and venture finance transactions for science- and engineering-based companies, as reported by Xconomy and elsewhere. Biomedical/Life Sciences Rosetta Genomics Ltd. in Philadelphia, Pennsylvania. MicroRNA-based molecular diagnostics. $6.0 million, equity. Versartis in Mountain View, California. Protein drugs for endocrine disorders. $21 million in Series B equity financing. Ivivi Health Sciences in San…
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USDA Funding Research on Climate Change, Agr Production
USDA’s National Institute of Food and Agriculture (NIFA) awarded three grants to study the effects of climate change on agriculture and forest production. NIFA Director Roger Beachy made the announcement today at the annual meeting of the American Association for the Advancement of Science in Washington, D.C. A research team led by Dr. Tim Martin,…
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Contract Awarded for Smallpox Countermeasure Drug Candidate
Chimerix Inc., a pharmaceutical company in Research Triangle Park, North Carolina, was awarded a contract by the Biomedical Advanced Research and Development Authority (BARDA) to develop the company’s antiviral drug candidate, CMX001 as a medical countermeasure in the event of a smallpox release. The contract has a total potential value of $81 million. CMX001 is…
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Grants Awarded for Robotics, Cyber-Vision and Child Health
A research team at University of Minnesota in Minneapolis received two grants totaling more than $3 million from the National Science Foundation (NSF) for technology to help diagnose children’s mental health disorders. The grants, totaling more than $3 million, were awarded by NSF’s Cyber-Enabled Discovery and Major Research Instrumentation programs. The Minnesota team led by…
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Kauffman Grant Supports Seed Accelerator Network
The Ewing Marion Kauffman Foundation in Kansas City, Missouri was awarded a $200,000 grant to TechStars, a network of regional start-up business accelerator programs, based in Boulder, Colorado. The TechStars network began on 31 January as part of a White House initiative encouraging entrepreneurship. The Kauffman funding will be used by the TechStars network to…
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Sanofi-aventis Acquires Genzyme in $20.1B Deal
Sanofi-aventis, the Paris-based pharmaceutical company, has acquired biotechnology company Genzyme Corporation in Cambridge, Massachusetts for $74.00 per share, or about $20.1 billion. The deal includes other payments to Genzyme shareholders based on net sales and developments involving specific Genzyme drugs. Genzyme is expected to add its treatments for several rare diseases to Sanofi-aventis’s current collection…
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Grant Awarded for Medical Test Results Follow Up Technology
Martin Chieng Were, assistant professor at the Indiana University School of Medicine in Indianapolis, has received a grant to support his research on health information technology to improve post-hospital management of patients. The $420,000 grant from the Robert Wood Johnson Foundation will fund Were’s work focusing on medical test results that are still pending when…
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Finance Friday: 11 February 2011
Here are recent financial transactions for science- and engineering-based companies reported by Xconomy. Biomedical/Life Sciences AcelRx Pharmaceuticals in Redwood City, California. Pain medications. $40 million IPO: 8 million shares @ $5.00. Optimer Pharmaceuticals in San Diego, California. Antibiotics. $67.5 million stock offering: 6 million shares @ $11.25. Fluidigm in South San Francisco, California. $75.6 million…