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ROCHESTER, N.Y., Nov. 08, 2019 (GLOBE NEWSWIRE) -- Empire State Development (ESD) announced the 10 companies selected to take part in the Round III of New York State’s Luminate NY accelerator competition in Rochester. The finalists selected include optics, photonics and imaging startups which were selected after pitching their innovative ideas to an advisory panel comprised of industry experts during the Lightning Awards at the Strong National Museum of Play on Nov. 7. Each company will receive an initial investment of $100,000 and will be a part of Luminate’s third cohort, which will begin in January 2020 at the Sibley Building in downtown Rochester. The six-month program will help the selected companies speed the commercialization of their technologies and business. In June, the teams will compete during Demo Day for $2 million in follow-on funding. Funding for the $25 million program is being provided through the Finger Lakes Forward Upstate Revitalization Initiative award and is being administered by NextCorps.

 

Montgomery County Maryland

ROCKVILLE, Md., Nov. 12, 2019—Montgomery County Council President Nancy Navarro will be joined by County Executive Marc Elrich, Councilmembers, and business and community leaders for a press conference today at 11 a.m. at the Council Office Building (100 Maryland Ave., fourth floor) in Rockville to announce a new County Economic Development Platform that is focused on business development, housing, transportation, and workforce development. In addition, at the Council’s Nov. 12 meeting at 1 p.m. Council President Navarro will introduce a resolution to unify and formalize the Council’s focus on economic development.

 

CEO Chat Lessons Learned from Successful Biotech Entrepreneurs

Join us for a final event of the year where several of the region’s experienced entrepreneurs will share the lessons they have learned along their journeys in building their current and past companies.

Hear from an amazing panel of entreprenurs who have collectively been founders and CxO's of 12 companies, raised hundreds of millions of dollars and negotiated more than a half dozen acquisitions and exits.

 

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BHI is seeking a full time energetic and motivated individual with relevant marketing experience and an interest in growing with our organization to serve as our full time Marketing and Communications Coordinator. The Marketing and Communications Coordinator will perform a variety of duties that support the organization’s mission, including formulating and executing a strategic marketing plan for the organization that encompasses BHI’s goals for the next three years and providing ongoing marketing collateral creation and marketing administrative support.

Click here for more information.

 
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Are you an experienced biohealth industry executive seeking full time or part time employment as a consultant or start-up C suite executive? BioHealth Innovation is updating its database of experienced industry executives who may be able to share their expertise with early stage/growing companies. To be considered by companies or technology transfer organizations seeking leaders for their spin-out companies and/or advisors to support their business growth, please this form and upload a copy of your resume. (For questions/more information, please email: This email address is being protected from spambots. You need JavaScript enabled to view it..)

Venture Capital

The rising trend of domestic venture capital investments contributed to M&A activity increasing 14% from 2017 to 2018.

Venture capital investments in U.S.–based healthcare startups totaled nearly $131 billion in 2018, according to a Sage Growth Partners survey released Monday morning.

The rising trend of domestic venture capital investments contributed to M&A activity increasing by more than 14% from 2017 to 2018.

M&A activity has consistently risen in several segments of the healthcare industry in recent years, including pharmaceuticals, insurers, and provider organizations.

 

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County Council, Elrich to announce new economic development platform

Council President Nancy Navarro and County Executive Marc Elrich will hold a joint press conference on Tuesday to announce a new economic development platform for Montgomery County.

The announcement, at 11 a.m., will also feature Gigi Godwin, president of the Montgomery County Chamber of Commerce, and Bill Tompkins, chief operating officer of the Montgomery County Economic Development Corporation.

 

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DALEVILLE — Virginia has several economic development agencies, and recently they’ve been crossing wires on technology innovation.

This can run the risk of inefficiency and mismanaging and wasting government resources, said Robby Demeria, deputy secretary of commerce and trade for technology. That’s why Demeria wants Virginia to create the Virginia Innovation Partnership Authority to consolidate and streamline efforts at enhancing technology-based economic development in Virginia.

 

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ROCKVILLE, Md.--(BUSINESS WIRE)--The Universities at Shady Grove (USG) – a regional campus of the University System of Maryland that offers degree programs from nine different Maryland public universities – celebrated today the opening of its fourth academic building, a $175 million, state-of-the-art Biomedical Sciences and Engineering (BSE) education facility.

Maryland Governor Larry Hogan, USM Board of Regents Chair Linda Gooden, University System of Maryland Chancellor Robert Caret, university presidents from around the state, USG Executive Director Stewart Edelstein, and the USG Board of Advisors were joined by an array of elected officials, business and community leaders, faculty, staff and students for the grand opening celebration and ribbon-cutting. Hundreds attended the grand opening event, which was followed by tours of the BSE and a STEMM (science, technology, engineering, mathematics, medical studies) Showcase to highlight programs that partner universities will be bringing to the new facility, as well as area science and technology businesses that are partnering with USG.

 

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Sonavi Labs, the Pigtown-based company that’s bringing to market digital stethoscope technology combining noise cancellation and AI that was initially developed by Johns Hopkins scientists, has raised $1 million in seed funding.

It’s the first official fundraising round for a company that’s been bootstrapped over its first two years, and Sonavi Labs reached the seven-figure milestone without raising from institutional venture capital firms. Instead, the investors, whose names are not being disclosed by the company, come from the healthcare and scientific community, as well as friends and family, said CEO Ellington West.

Image: Sonavi Labs CEO Ellington West at the Startup World Cup 2019 finale in San Francisco. (Courtesy photo)

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Danaher has agreed to sell three of its life sciences tools businesses to Sartorius Stedim Biotech for approximately $750 million cash, the companies said today—a deal that according to Danaher was prompted by its planned $21.4 billion acquisition of GE Life Sciences’ Biopharma business.

Sartorius has agreed to acquire Danaher’s label-free biomolecular characterization, chromatography hardware and resins, and microcarriers and particle validation standards businesses. Sartorius said the three Danaher businesses employ around 300 people worldwide combined, and enjoyed a “strong” growth profile and double-digit profit margins.

 

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The gleaming biomedical sciences and engineering building that just opened in a technology corridor of suburban Maryland testifies to the power of a novel idea: Offer degrees from several public universities through one commuter-friendly campus, and the students will come.

The Universities at Shady Grove, near Interstate 270 in Montgomery County, has enabled thousands of transfer students to earn bachelor’s and master’s degrees in the past two decades from an array of schools in the University System of Maryland.

 

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Some of the most common services sought after by early stage healthcare and life science companies are the following:

1. CMC Regulatory Consultants  2. Accounting Services including Tax prep and tax credits 3. Reimbursement Consultants for your Product How should you go about choosing these providers? What is the best way to vet their qualifications and reputation? What are the most common mistakes made in choosing these vendors? How can startups protect themselves from partners who are not performing up to “best practices” standards? Are their tax incentives that you might be missing? 

Come to the November 21st meeting of the National Capital Chapter of the Society of Physician Entrepreneurs and learn from our panel of experts!

 

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Johns Hopkins is getting involved with the vast and swiftly growing field of psychedelic research.

The prestigious university is throwing down $17 million from a group of private donors on its Center for Psychedelic and Consciousness Research. It’s the first of its kind the United States and the largest in the world — intended to expand our knowledge and our minds through psychedelic research.

Hopkins Medicine will explore use of psilocybin to treat diseases such as opioid addiction, Alzheimer’s disease, eating disorders, depression and chronic Lyme disease.

 

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CEO Pascal Soriot knows what’s at stake for AstraZeneca’s business. It is whether China, now the British drugmaker’s second-largest market, can sustain double-digit growth—and some investments that support the Chinese government’s goals are necessary.

In a slew of news coming out of Shanghai on Wednesday, AstraZeneca is teaming up with investment shop China International Capital Corporation to launch a $1 billion fund focused on healthcare, upgrading its Shanghai R&D operations to a global center, establishing a new artificial intelligence innovation center, and partnering up with Sun Pharma to market some oncology drugs in China.