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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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Computer Science Spinoff Develops Energy Footprint Gauge
A company started by a computer science professor at Virginia Polytechnic Institute in Blacksburg offers organizations a free software tool to measure their total energy use. MiserWare, also in Blacksburg, was founded by Kirk Cameron (pictured right), a computer science faculty member at Virginia Tech, which offers a free program that can measure an organization’s…
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Nanoscale Film Coating Strengthens Joint Implants
Chemical engineers at Massachusetts Institute of Technology have developed an ultra-thin film that can strengthen the bond of knee or hip implants and promote bone growth. The findings are described in a recent issue of the journal Advanced Materials (paid subscription required). Knee and hip replacements are becoming more common, with some 773,000 Americans having…
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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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University Start-Up to Generate Power with Stored CO2
A spin-off company from University of Minnesota is commercializing a process for generating electricity with geothermal energy from stored carbon dioxide captured at coal-fired power plants. Heat Mining Company LLC, in Rapid City, South Dakota, is based on a technology invented by Minnesota faculty Martin Saar (earth science) and Thomas Kuehn (engineering), and earth science…
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Sanofi, Fox Foundation Partner on Parkinson’s Drug Trial
The drug manufacturer Sanofi, based in Paris, and the Michael J. Fox Foundation in New York agreed today to conduct a clinical trial of AVE8112, a Sanofi compound, in patients with Parkinson’s disease. AVE8112 is a type of anti-inflammatory drug known as PDE4 inhibitors that have been tested as treatments for respiratory diseases, but in…
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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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Australian Science Agency, Biotech Partner on Insect Silks
Australia’s Commonwealth Scientific and Industrial Research Organisation (CSIRO) and the global biotechnology company Lonza have agreed to develop new insect silks for medical and industrial applications. Financial and intellectual property terms of the agreement were not disclosed. Insect silk is a potential component in a range of new products and applications because of properties such…
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Forest Biofuels Unsustainable, Could Boost Greenhouse Gases
An analysis by researchers in Europe and the U.S. indicate that large-scale biofuel production from forest biomass is unsustainable and will increase greenhouse gas emissions. The findings appear online in the journal Global Change Biology/Bioenergy. The report, an invited analysis by the journal, was led by the Max-Planck Institute for Biogeochemistry in Germany, Oregon State…