Tag: investment
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Not-For-Profit Hospital Starts $10M Health Care Venture Fund
Rex Healthcare, a not-for-profit health care system in Raleigh, North Carolina, has unveiled Rex Strategic Innovations that offers funding for start-up companies and organizations, including venture capital financing. The program is also devising ways to help individuals and organizations develop ideas for improving health care into real-life goods and services. The initiative includes Rex Health…
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PhRMA Company R&D Investment Flat in 2011
The Pharmaceutical Research and Manufacturers of America (PhRMA) released its annual industry profile today showing its 28 member companies spent $49.5 billion on research and development in 2011, down slightly from the $50.7 billion expended in 2010. The $49.5 billion spent on R&D is about 17 percent of total sales. The organization cites the latest…
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Michigan State Forms Subsidiary to Encourage Start-Ups
Michigan State University in East Lansing has formed a subsidiary of its MSU Foundation to help faculty and students turn their research discoveries into operating businesses. Spartan Innovations LLC will be part of the university’s Innovation Center located adjacent to the campus. Spartan Innovations is expected to tap into a $350 million capital fund from…
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IBM, Universities Form Canadian Research Center
IBM Corporation is establishing a new research and development center in Barrie, Ontario, part of a $210 million technology initiative involving research universities in the province. The plan calls for investments of $175 million by IBM, $20 million by the government of Canada, and $15 million by the Ontario government, with the creation of 145…
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DuPont Expanding Iowa Agriculture R&D Center
DuPont Corporation says it will add a $40 million plant genetics research center to its current facilities in Johnston, Iowa. The 200,000 square foot center is expected to add some 400 jobs. The new facility will be part of DuPont’s Pioneer Hi-Bred business, a subsidiary developing seeds through plant genetics. Johnston is located northwest of…
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Merck Investing in Life Sciences Venture Fund
Flagship Ventures in Cambridge, Massachusetts says Merck’s venture arm has joined in a recent investment fund backing start-up life sciences companies. The amount of the investment, which was not disclosed, was made by Merck’s Research Ventures Fund in Flagship Ventures Fund IV that closed in January. Flagship says its Ventures Fund IV will be devoted…
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Venture Funds in U.S., Europe Raise More Cash in Q1
More venture capital (VC) funds in the U.S. successfully hit their fund-raising targets in the first quarter of 2012, and like their counterparts in Europe, raised more cash in the process, according to Dow Jones LP Source, a financial industry research service. Tracking VC fund-raising offers an early indicator of investment money for start-up companies…
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U.S. Angel Investment Deals, Dollars Jump in 2011
The number and dollar amounts of angel investment deals in the U.S. rose sharply in 2011, with financing for science-related companies comprising nearly half of those transactions. The summary report of angel investing released yesterday by the University of New Hampshire’s Center for Venture Research also shows more initial-stage involvement in start-up companies than in…
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Algae Biofuel Start-Up Secures $144M for Demo Plant
Sapphire Energy in San Diego says it received the last installment of its series C financing — the third round of funding after initial start-up — valued at $144 million. The company develops biofuels from algae and bacteria, and the new financing is expected to fund a demonstration production plant in Luna County, New Mexico.…
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Biotech Secures $25 Million in Series B Financing
AlloCure Inc., a privately-held biotechnology company in Burlington, Massachusetts, says it has closed a $25 million deal for series B venture financing. The series B round — the second financing installment after initial start-up — includes new syndicate member Lundbeckfond Ventures, as well as previous investors SV Life Sciences and Novo A/S. The company is…