financial-coi

Advances in medical and surgical care are hard-won. They require rigorous, carefully interpreted laboratory research. Equally important is the painstaking clinical work to translate basic discoveries into useful diagnostics, drugs, and devices.  Despite the odds, the achievements made in the past half century are unmistakable: a 50 percent reduction in cardiovascular mortality despite an epidemic of obesity; a dramatically decreased cancer mortality rate; and the conversion of AIDS from a death sentence to survival with good life quality.

The key to such success has been the growing number and complexity of collaborations between academics, physicians, regulatory agencies, and—not least—industry. Unfortunately, over the past 20 years, a mania has taken hold that discounts the social value of collaboration and has mounted an inquisition against it, encapsulated by the epithet “financial conflict of interest (fCOI).” Critics’ unwarranted allegations that such conflicts cause bias have limited the sources of intellect that can contribute to a given project.

angel-capital-assoc

Raise your hand if you realized the Midwest has become a hotbed of angel group activity -- and a well-respected resource of nationally respected investment knowledge. This spring, Tony Shipley represented the Angel Capital Association, a professional alliance of angel groups in the United States and Canada, in front of a Congressional subcommittee discussing equity finance as a catalyst for small business growth. The software entrepreneur, who founded the Cincinnati-based angel network, Queen City Angels= in 2000, testified about the financial and intellectual capital angel investors provide, while making suggestions on how Congress can use legislation and public policy to bolster the entrepreneurial ecosystem.

Shipley's presence at this meeting illustrates the growing national attention given to Midwest angels, who are making the region a hub for innovation. According to the 2011 HALO Report, 79 percent of angel group investments occurred outside of traditional funding mecca California. Of these investments, the Great Lakes region received the biggest proportion of them -- 15.9 percent, a percentage greater than the shares of innovation-rich regions such as New England and the Southeast.

UMD President Loh Asia

University of Maryland President Wallace Loh is extending his Asia strategy with an innovation tour of Taiwan and South Korea. In his third trip to the region, Loh is laying the groundwork for new research and educational partnerships through sessions with high-level government, industry and academic officials.

Follow Loh's live blog from Asia: http://ter.ps/vt

"Science and education transcend borders," Loh says. "A premier innovation and entrepreneurship university needs to operate in a global context today if it is to serve the state and the nation. By building new research collaborations, bringing Asian companies to our international incubator, and fostering intercontinental student exchanges, we keep Maryland plugged into the economic and intellectual currents."

northrop-gruman

Thanks in part to its proximity to the federal government, the University of Maryland has shaped itself into one of the few institutions that specialize in cybersecurity — contributing its own resources, while also relying on financial contributions and expertise from the Washington area's biggest government contractors.

The university's latest announcement came Monday from Falls Church-based Northrop Grumman Corp. , which will provide UMd. a $1.1 million grant to create the nation's first cybersecurity honors program for undergraduates, dubbed the Advanced Cybersecurity Experience for Students. The program will kick off this fall, and Northrop will support it for an additional two years.

College Graduation

In a recent op-ed column headlined "The failure of college for all" (May 28), Robert J. Samuelson raised some interesting ideas, such as enhanced vocational education and expanded apprenticeship programs. However, he started from what higher education professionals would label a false premise, rendering his observations and arguments less valuable.

Although I have no doubt that some people have issued calls for universal access to higher education, those who are serious about education policy have never proposed anything remotely close to 100 percent college attendance or college completion

CMS

In a strong show of support for more effective, more affordable, higher quality health care, 45 commercial, federal and State insurers in seven markets today pledged to work with the Centers for Medicare & Medicaid Services (CMS) to give more Americans access to quality health care at lower cost.

Under the Comprehensive Primary Care initiative, CMS will pay primary care practices a care management fee, initially set at an average of $20 per beneficiary per month, to support enhanced, coordinated services.  Simultaneously, participating commercial, State, and other federal insurance plans are also offering an enhanced payment to primary care practices that provide high-quality primary care.  

SBIR STTR

The National Cancer Institute (NCI) recently announced a new Program Announcement, aimed at accelerating the development and commercialization of consumer health information technology products that translate the behavioral and communication science evidence base for the prevention and control of cancer and other chronic diseases. The NCI and the National Library of Medicine (a co-funding partner) are interested in supporting the development and dissemination of evidence-based health information technology (health IT) products that have the potential to:

  • Prevent or reduce the risk of cancer 
  • Facilitate patient-provider communication and/or 
  • Improve disease outcomes in consumer and clinical settings

A non-exclusive list of product examples relevant to the FOA are provided below.

PhaseBio

PhaseBio Pharmaceuticals Inc., a clinical-stage biotechnology company developing drugs to treat diabetes, metabolic disease and cardiovascular disease, has closed its Series B round with a total of $48.4 million, the company announced. The round closed after a third tranche.

PhaseBio is backed by New Enterprise Associates, Astellas Venture Management, Johnson & Johnson Development Corp., Hatteras Venture Partners and Fletcher Spaght Ventures.

Serial entrepreneur panel small

A panel of entrepreneurs told the Maryland Economic Development Commission on Tuesday that Maryland needs to commercialize more discoveries made in academic and government labs and improve the entrepreneurial culture if the state hopes to compete with traditional hubs of innovation.

“You ain’t gonna replicate Silicon Valley and Boston in many places around the world. What Maryland has is unrivaled research assets that, basically, most states cannot compete with,” said Rich Bendis, interim CEO of BioHealth Innovation Inc. “The difference is, we’re talking about culture. It’s the entrepreneurial culture that’s different in those other cities.”

Bendis said Maryland’s stature is improving in the eyes of entrepreneurs and those tasked with supporting startups.

DHHS

The Department of Health and Human Services (HHS), along with the Institute of Medicine (IoM) and other members of the Health Data Consortium, are co-hosting the third annual “Datapalooza” focusing on innovative applications and services that harness the power of open data from HHS and other sources to help improve health and health care.

The Health Data Initiative Forum III is featuring more than 100 new or updated solutions, up from 45 solutions last year, that help serve the needs of consumers, health care providers, employers, public health leaders, and policy makers.

“The innovators present today are a great example of how data and technology can be used in powerful ways to help consumers and providers improve health,” said HHS Secretary Kathleen Sebelius. “We’re not just creating new technology, but we’re empowering Americans to make better decisions about health and health care by putting information at their fingertips.”

Techcouncilmd

The Tech Council of Maryland (TCM), Maryland's largest technology trade association with more than 400 biotechnology and technology members employing more than 200,000 in the region, announced that it has moved into a new headquarters at 9210 Corporate Blvd., Suite 470 in Rockville, a short distance from its previous offices on Key West Ave. All phone numbers and e-mail addresses for TCM staff remain the same.

"The move to Corporate Blvd. accomplishes several things for the association," said Art Jacoby, TCM's CEO. "The space offers us a far better layout, which enables improved internal teaming, communication and productivity. And, it's 'right-sized,' so we're achieving some operating expense savings, as well. The staff and I are very excited and see this move as a fresh start the plans we have to strengthen TCM in the future."

Pharma Dollars

Counter-intuitive as it may be, investing in areas that pharma is abandoning could yield great returns for investors. Just look at anti-bacterials in the ’90s and 2000s, says VC Bruce Booth in a Forbes column. So where should investors be looking today? Neuroscience, heart failure and obesity.

The shortage of cancer drugs that’s plagued hospitals for almost two years now has eased, although not completely, according to cancer doctors.

A recent study by Johns Hopkins researchers brings a reality check to the potential (and the limits) of genome sequencing in predicting disease.

MD Incubator

The 12th Annual Maryland Incubator Company of the Year Awards, supported by the Maryland Department of Business and Economic Development (DBED), the Maryland Technology Development Corporation (TEDCO), McGladrey, Inc. and Saul Ewing, is coming up.

The ceremony will recognize the achievement and potential among 18 current and graduate companies within Maryland's incubator network. Chris Brandenburg from Millennial Media, who received the 2008 information technology Incubator Company of the Year award, will be the keynote speaker. The event will also feature technology demonstrations by the finalist companies.

Bwtech-UMBC

The incubator at University of Maryland, Baltimore County has gotten an influx of new tenants, the majority of whom are responding to the increased demand for cyber security. 

bwtech@UMBC Research and Technology Park currently hosts 86 incubator and early-stage tenants and 14 affiliated companies and organizations, according to Gregory Simmons, the park's vice president for institutional advancement.

Of the tenants, nearly 20 have joined the park in the past 18 months alone. They include Fearless Solutions, Rogue Technology, AIS (Assured Information Security) Inc., all of which are in the cyber security field.  Simmons says that most of the new tenants are also in that field, often in the area of securing data and networks, in medical, defense and financial services, among others.