Tag: investment
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DuPont Expanding Agricultural Research in Delaware
The chemical company DuPont plans to expand its biotech research on soybeans at its Delaware facilities. The $50 million expansion is expected to create 75 new, full-time positions in Delaware by the end of 2015. The proposed investment will include expanding biotech research facilities at DuPont’s research and development headquarters, the Experimental Station, in Wilmington…
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Finance Friday: 18 February 2011
Here are recent angel and venture finance transactions for science- and engineering-based companies, as reported by Xconomy and elsewhere. Biomedical/Life Sciences Rosetta Genomics Ltd. in Philadelphia, Pennsylvania. MicroRNA-based molecular diagnostics. $6.0 million, equity. Versartis in Mountain View, California. Protein drugs for endocrine disorders. $21 million in Series B equity financing. Ivivi Health Sciences in San…
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Kauffman Grant Supports Seed Accelerator Network
The Ewing Marion Kauffman Foundation in Kansas City, Missouri was awarded a $200,000 grant to TechStars, a network of regional start-up business accelerator programs, based in Boulder, Colorado. The TechStars network began on 31 January as part of a White House initiative encouraging entrepreneurship. The Kauffman funding will be used by the TechStars network to…
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Sanofi-aventis Acquires Genzyme in $20.1B Deal
Sanofi-aventis, the Paris-based pharmaceutical company, has acquired biotechnology company Genzyme Corporation in Cambridge, Massachusetts for $74.00 per share, or about $20.1 billion. The deal includes other payments to Genzyme shareholders based on net sales and developments involving specific Genzyme drugs. Genzyme is expected to add its treatments for several rare diseases to Sanofi-aventis’s current collection…
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Finance Friday: 11 February 2011
Here are recent financial transactions for science- and engineering-based companies reported by Xconomy. Biomedical/Life Sciences AcelRx Pharmaceuticals in Redwood City, California. Pain medications. $40 million IPO: 8 million shares @ $5.00. Optimer Pharmaceuticals in San Diego, California. Antibiotics. $67.5 million stock offering: 6 million shares @ $11.25. Fluidigm in South San Francisco, California. $75.6 million…
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Pfizer Slashes R&D Funding, Closes U.K. Research Site
Pfizer Inc. in New York said today it plans to cut its research and development spending to keep R&D costs in line with lower expected revenues in 2012. The reductions, which Pfizer calls “significant,” include closing its research facility in Sandwich, U.K. and consolidating research operations in the northeast U.S. The company has lowered its…
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SBA Commits $2 Billion to Matching Small Business Capital
The White House says the Small Business Administration (SBA) will commit $2 billion in matching funds to private sector investment over the next five years in promising high-growth companies. The new funding is part of a White House small business initiative announced today that includes a proposal to make permanent a capital gains tax credit…
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Finance Friday: 28 January 2011
Here are recent angel and venture finance transactions for science- and engineering-based companies reported by Xconomy. Biomedical/Life Sciences Meritage Pharma in San Diego, California. Specialty drug discovery and development. $2 million, equity. XDx in Brisbane, California. Molecular diagnostics. $12.5 million, debt (from GE Capital) Stromedix in Cambridge, Massachusetts. Specialty drug discovery and development. $2 million,…
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Three U.S. Corporations Start Energy Technology Fund
Three American energy corporations –- General Electric Co. (GE), NRG Energy Inc., and ConocoPhillips -– have begun a joint venture that aims to fund emerging energy technology companies. The companies have committed $300 million to the collaboration, called Energy Technology Ventures, with plans to support some 30 venture- and growth-stage companies over the next four…
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Research Spin Off Company to Tackle Superbug Infections
Fixed Phage Limited in Glascow, Scotland has been launched to commercialize a technology for tackling bacterial infection and contamination, including superbugs such as MRSA. That technology was developed at the University of Strathclyde Institute of Pharmacy and Biomedical Sciences in Scotland. Fixed Phage’s technology is based on research for treatment and prevention of infection and…