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Cellulosic Biomass Sugars Developer Gains BASF Backing
Renmatix Inc., a developer of biofuel sugars from cellulosic feedstocks in King of Prussia, Pennsylvania, has secured a $50 million investment round led by German chemical manufacturer BASF. The BASF subsidiary, BASF Biorenewable Beteiligungs GmbH, contributed $30 million to the investment round, joined by new and existing investors. Renmatix has devised a technology platform called…
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FDA Approves Pneumococcal Disease Vaccine for Older Adults
At the end of December, the U.S. Food and Drug Administration (FDA) approved the vaccine Prevnar 13 for people ages 50 years and older to prevent pneumonia and invasive disease caused by the bacterium Streptococcus pneumoniae (S. pneumoniae). The drug is manufactured by the Wyeth Pharmaceuticals division of Pfizer Inc. Pneumococcal pneumonia is caused when…
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Fewer Venture-Backed Companies Gain Liquidity, Get More Cash
Dow Jones VentureSource says in 2011 fewer U.S. companies backed by venture capital gained liquidity than in 2010, but those companies that left start-up status raised a good deal more capital in the process. The venture capital industry research service reports the 522 mergers, acquisitions, buyouts, and initial public offerings (IPOs) represent a 14 percent…
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Challenge Seeks Combat Emergency Rescue Device
A new challenge on InnoCentive calls for a concept and design of a device that enables a rescuer to quickly and safely transport an injured person away from a combat site. The contest has a prize of $15,000 and a deadline of 28 February 2012. InnoCentive in Waltham, Massachusetts is a company that conducts open-innovation…
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Top 10 Science Business Stories for 2011
In the spirit of David Letterman, Science Business offers its very own top 10 list, in this case the most viewed stories in 2011. During the year, Science Business received some 43,000 visits from 37,000 visitors, for which we are deeply grateful and humbled. Here are the 10 individual stories that got the most attention…
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Emergent BioSolutions, Abbott Labs End Collaboration
As reported yesterday, Emergent BioSolutions Inc. in Rockville, Maryland has started a phase 2 clinical study of its drug candidate TRU-016, a program conducted in partnership with pharmaceutical manufacturer Abbott Laboratories. Emergent BioSolutions now says that Abbott Laboratories has ended the partnership agreement to develop and commercialize the compound. Daniel J. Abdun-Nabi, president of Emergent…
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Biofuels Start-Up Adds BP as Investor
Cool Planet BioFuels in Camarillo, California says BP Technology Ventures has made an investment in the company’s C round — the third series of equity investments after start up. The amount of the investment by BP’s venture capital division was not disclosed. Current investors in Cool Planet Biofuels also include General Electric, Google Ventures, ConocoPhillips,…
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Global Semiconductor Investment Drops in November
A report from the Global Semiconductor Alliance (GSA) shows investment in semiconductor companies worldwide dropped for the month of November 2011 compared to the same month in 2010, and for the year-to-date. The number of mergers and acquisitions in the industry also decreased for the year so far, but in November a number of new…
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Student Project Develops Bacteria-Based Glucose Sensor
A team of Missouri University of Science and Technology students in Rolla developed a sensor based on genetically modified E. coli bacteria to detect glucose levels. The students, members of the university’s chapter of the International Genetically Engineered Machine (iGem) Foundation, developed the system as part of an annual competition sponsored by iGEM, receiving a…
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Clinical Trial to Test Leukemia Drug Combination [UPDATED]
UPDATE, 29 December 2011: Emergent Biosolutions, Abbott Labs End Collaboration Emergent BioSolutions Inc. in Rockville, Maryland has started a phase 2 clinical study of its drug candidate TRU-016 in combination with the chemotherapy drug bendamustine for patients with relapsed chronic lymphocytic leukemia (CLL). The company is developing TRU-016 in a partnership with Abbott Laboratories. Chronic…