Tag: investment
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Timken, College to Build Wind Energy R&D Center
The Timken Company in Canton, Ohio revealed plans for a new research and development center for wind turbine mechanisms used to generate electricity. The $11.8 million facility, built in collaboration with nearby Stark State College, is expected to add 65 new jobs. The R&D center will focus on wind turbine mechanisms that convert wind power…
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Lilly Spins Off Biotech to Develop Sepsis Drug
Eli Lilly and Company in Indianapolis, Indiana has signed agreements with private investors Care Capital and NovaQuest Capital to establish BioCritica Inc., a new biotechnology company. BioCritica will initially focus on the continued U.S. development and commercialization of Xigris — drotrecogin alfa (activated) — Lilly’s medicine for severe sepsis. Under the agreement, BioCritica will acquire…
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U.S. Regional Industry Cluster Challenge Unveiled
The Economic Development Administration (EDA), part of the U.S. Department of Commerce, announced a funding competition to promote the development of regional collections of innovative businesses. The $33 million program, called the Jobs and Innovation Accelerator Challenge, will fund 20 “high-growth industry clusters” that best spell out strategies for meeting opportunities or overcoming obstacles to…
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Sygenta to Build U.S. Genetics Research Facility
Sygenta, in Basel, Switzerland says it will build a new biotechnology research facility adjacent to its current campus in Research Triangle Park, North Carolina. The $71 million facility is expected to be operational in the second half of 2012. The company says the new labs will focus on discovering and developing new genetic characteristics for…
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Cancer Institute Invests in Three Spin-Off Companies
The Ontario Institute for Cancer Research (OICR) in Toronto says it invested in three new Ontario companies aimed at bringing anti-cancer technologies to market. OICR previously provided seed funding for the three companies. The three companies include: – TORCell Therapeutics Inc. is a spin-off of OICR and University Health Network in Toronto. The company is…
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Venture Capital Investment Performance Improves Through 2010
Returns on venture capital (VC) investments continued to improve for the fourth quarter and all of 2010, for most time horizons stretching back to 1981, and in some cases exceeding the benchmark stock indexes. These data are contained in the latest Cambridge Associates U.S. Venture Capital Index, prepared for the National Venture Capital Association. For…
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Study: Genomics R&D Generates $796 Billion Return to U.S.
An analysis by Battelle Memorial Institute in Columbus, Ohio estimates that the Human Genome Project and associated activities generated an economic return of $796 billion between 1988 and 2010, from an investment of $3.8 billion ($5.6 billion in constant dollars). In addition, Battelle calculates genomics research and development directly and indirectly resulted in personal income…
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Global Venture Capital Volume Up in Q1, Deal Number Down
The volume of venture deals for companies in the U.S., Europe, Canada, Israel, China, and India jumped 20 percent to $9.8 billion in the first quarter of 2011 compared to the same quarter in 2010. However, the number of deals worldwide declined 7 percent in the first quarter, to 967. The data compiled by Dow…
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Monsanto, Venture Company to Fund Life Science Start Ups
Monsanto Company in St. Louis, Missouri and Atlas Venture, a venture capital firm in Cambridge, Massachusetts, agreed to jointly explore investments in early-stage life sciences companies. Monsanto is a manufacturer of agricultural chemicals; Atlas Venture invests in early-stage technology and life sciences businesses. Under the agreement, Monsanto and Atlas will identify investments in several agricultural…
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Q1 2011 Venture Fund Raising Up in U.S., Down in Europe
Venture capital (VC) funds in the U.S. raised $7.7 billion in the first quarter of 2011, nearly double the $3.9 billion raised in the first quarter of 2010, according to Dow Jones LP Source. Early-stage funds — those that invest in start up companies, such enterprises begun by university researchers — were among the VCs…