Tag: investment
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BASF to Boost R&D Spending, Staffing
The global chemical company BASF in Ludwigshafen, Germany says it plans to increase its research and development spending to €1.7 billion ($2.3 billion) in 2012, and align its R&D programs more closely with high-growth business fields. The company also announced plans to increase its research staff, particularly in Asia and the Americas. The €1.7 billion…
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Cisco Systems Unveils R&D Collaboration Plans in Russia
Cisco Systems in San Jose, California revealed plans for new collaborations in Russia’s Skolkovo project, the country’s scheme to develop a technology and innovation center outside Moscow. The strategy unveiled today is part of a larger initiative with Russia announced by Cisco in 2010. The Skolkovo project is Russia’s attempt to build a technology and…
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Maryland University, VC Partner on Start-Up Accelerator
Loyola University in Baltimore, Maryland and Wasabi Ventures, a venture capital company in San Mateo, California, have begun a new-business accelerator near the university’s campus. As part of the collaboration, Wasabi’s co-founder Thomas “T.K.” Kuegler, a 1994 Loyola graduate, will serve as the university’s entrepreneur-in-residence. Loyola says the accelerator will provide opportunities for its students…
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Private Equity Company Founds $50M Biologics Start-Up
Celtic Therapeutics, a private equity company in the U.S. and Europe, has started a new company to bring to market therapies based on antibody drug conjugates (ADCs) that bind to and kill cells with the targeted properties. The new company, known as ADC Therapeutics and based in Lausanne, Switzerland will have an initial investment of…
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GSK, Johnson & Johnson Join in Life Science Venture Fund
The London-based venture capital company Index Ventures unveiled a new investment fund for early-stage life sciences companies, with pharmaceutical companies GlaxoSmithKline and Janssen, a division of Johnson & Johnson, among the investors. The Index Life VI fund, valued at €150 million ($US230 million), is the first for Index Ventures devoted solely to the life sciences.…
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Osteoporosis Drug Developer Secures $28M in Series B Round
Tarsa Therapeutics Inc., a Philadelphia-based developer of drugs to treat osteoporosis, has completed $28 million in new series B financing, the second round of funding after initial start-up. The financing package, announced on Friday, is led by a new investor in the company, Foresite Capital. The funding is expected to support the next commercialization and…
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Merck to Fund New Translational Research Institute
The pharmaceutical company Merck in Whitehouse Station, New Jersey unveiled plans today to establish the California Institute for Biomedical Research (Calibr), an independent, not-for-profit organization to speed the translation of basic biomedical research into new medicines to treat disease. Merck is expected to provide up to $90 million financing for Calibr over seven years. Researchers…
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Irish Govt to Fund U.S. Life Sciences VC Presence in Ireland
The government of Ireland plans to invest $37.5 million in Sofinnova Ventures, a venture capital firm in Menlo Park, California that supports start-ups in the health care field, for the company to establish a presence in Ireland. Ireland’s Minister for Jobs, Enterprise and Innovation, Richard Bruton (pictured right) made the announcement today during a visit…
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Texas Instruments Opens New Analog Chip Research Lab
Semiconductor manufacturer Texas Instruments launches today a new Silicon Valley research laboratory in Santa Clara, California. The company says the lab will also provide opportunities for collaboration with researchers and students at universities in the region. The company’s 70-acre Silicon Valley Labs plans to focus on R&D involving analog and mixed analog/digital signal circuits. Projects…
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Biotech Secures $13M in Series B Funding for Clinical Trial
HemaQuest Pharmaceuticals Inc., a biotechnology company in San Diego, closed a $13 million extension of its series B financing, the second round of funding after initial start-up. The extension is funded by existing investors Aberdare Ventures, De Novo Ventures, Forward Ventures, Latterell Venture Partners, and Lilly Ventures. HemaQuest develops small molecule therapies to treat disorders…