Biohealth Innovation
Biotech has never quite taken flight in Northern Virginia. Whether that's due to the lack of a big corporate anchor or blue-chip research university, the dearth of wet labs, the attraction of a stronger scene in Montgomery County or pure dumb happenstance is anyone's guess.
But on this side of the D.C. suburbs, the life sciences are not thriving. The story of Virginia biotech right now has much more to do with Charlottesville than it does with Fairfax.
Optimistic and confident in their abilities, a diverse and growing percentage of U.S. citizens engage in entrepreneurship, according to the Global Entrepreneurship Monitor (GEM).
U.S. entrepreneurship rates climbed to the highest level in more than a decade according to the 2012 Global Entrepreneurship Monitor (GEM) U.S. Report issued today by Babson College and Baruch College. In 2012, the average Total Early-Stage Entrepreneurial Activity rate (TEA) increased to nearly 13 percent, an all-time high since GEM first began tracking entrepreneurship rates in 1999.
“Despite a sluggish economy, 2012 was marked by U.S. entrepreneurs reporting greater optimism and confidence in their abilities to start new businesses,” commented the GEM Report’s lead author, Donna J. Kelley, Associate Professor of Entrepreneurship at Babson College. “In fact, nearly 13 percent of the U.S. adult population was engaged in entrepreneurship with the vast majority starting businesses to pursue an opportunity rather than out of necessity. On the downside, Americans closing businesses were twice as likely as those in other innovation-driven economies to cite difficulties financing their ventures.”
The threshold for reporting on marketing stunts is a high one, and United Therapeutics Corp. has just cleared it.
Reaching us by mail today is the Silver Spring biotech's 2012 annual report, written as a spoof of a children's book and called "Good Year UTHR." UTHR, of course, is the ticker symbol for United Therapeutics, which has a history of doing this sort of thing.
Hall of Fame award underlines long history of commitment to Maryland technology community
The Tech Council of Maryland honored Lockheed Martin with the 2013 Hall of Fame Award at its 25th annual Tech Awards Celebration, held at the Bethesda North Marriot Hotel and Conference Center in Bethesda, Md.
The Tech Awards Celebration is the mid-Atlantic region’s largest and most prestigious awards ceremony that recognizes leaders and innovators in the technology and life science communities from Maryland and the surrounding regions.
The Maryland Stem Cell Research Commission (Commission) has completed its review of the 171 applications received in response to its FY 2013 Requests for Applications (RFAs). The board of directors of the Maryland Technology Development Corporation (TEDCO) approved the Commission's recommendation to fund 31 new proposals with the Maryland Stem Cell Research Fund's (MSCRF) $10.4 million FY2013 budget. These projects, which include pre-clinical research and a clinical trial, will advance the field of regenerative medicine.
"These awards are critical to ensuring that the groundbreaking research being done has the opportunity to move to the commercial marketplace," said Governor Martin O'Malley. "I congratulate this year's grant recipients and look forward to the contributions they make to the improved health and wellbeing of our citizens."
Would it surprise you to learn that Fast Company magazine just ranked Maryland the third-most innovative state in the nation? Or that Maryland took the U.S. Chamber of Commerce's No. 1 spot for both innovation and entrepreneurship? It's a fact: In our state's dynamic mix of world-class universities and professional schools, institutes for advanced research, teaching hospitals, think tanks, hubs for start-up businesses and more, there exists this mysterious, economically essential activity known as innovation.
So if we are as innovative as Fast Company and the leaders of free enterprise say we are — and I believe it's true — we have to ask ourselves a couple of questions: How did it happen? And how can we keep it going?
Wednesday, June 12, 2013 8:00 AM – 10:00 AM
Bethesda Country Club
We often hear that capital formation is among the most difficult challenges faced by biotechnology companies. Please join us on June 12th for an MdBio breakfast program to hear from four seasoned local venture capital investors, all to discuss investment trends, strategies and opportunities in Maryland. The event will offer a great platform to hear and have dialogue about the broader dynamics in investment, what has changed and where the capital opportunities are.
Speakers:
Moderator:
The Economic Alliance of Greater Baltimore and the Maryland Department of Business of Economic Development announced Monday that they created a new program to help companies that have moved beyond the start-up phase to continue to grow.
Advance Maryland is designed to assist these companies with developing markets, fine-tuning their business models and boosting growth with the help of a research specialist. Similar models have been adopted in other states, the groups said.
Fifty years ago this month, I chanced to hear the Rev. Martin Luther King Jr. I was a mild-mannered kid with a speech impediment and a love of math. That day, I was focused on solving math problems, not issues of justice and equal rights. But King broke through to me when he said this: If the children of Birmingham march, Americans will see that what they are asking for is a better education. They will see that even the very young know the difference between right and wrong.
I chose to march, and found myself among hundreds of children jailed for five terrifying days. Mind you, I was not a brave child. But even at 12 years old, I believed and hoped that my participation could make a difference.
Chevy Chase-based New Enterprise Associates stands to reap a fortune from Tableau Software Inc.'s newly public stock, which is up about 60 percent in its first day of trading on the New York Stock Exchange Friday.
NEA is the single biggest venture backer of the Seattle-based data analytics company (NYSE: DATA). The firm sold 1 million shares of Tableau stock in the offering, and is holding on to another 18.5 million shares, or about 37 percent of the company. With Friday's pop, that stake is valued at more than $900 million.
Tuesday, June 11, 2013, 05:00pm - 06:30pm
Please join us for an exclusive MedTech networking event hosted by QIAGEN. Learn more about AdvaMed 2013: The MedTech Conference and discover your local MedTech community.
Please RSVP by June 3 to Lauren Goldstein at
This email address is being protected from spambots. You need JavaScript enabled to view it.
or 202.434.7213
Location QIAGEN’s Germantown Facility
A District advisory committee OK'd bids from Johns Hopkins Medicine and MedStar Health to build costly proton therapy centers on Thursday, leaving both just one step from final approval to proceed on the high-tech cancer treatment programs.
It wasn't, however, a clean victory for either. The committee rejected a key part of Hopkins' plan and asked for additional details about both nonprofit system's outreach to under-served neighborhoods.
America urgently needs a national, research-based effort to empower all undergraduates and help more of them, particularly underrepresented minorities, graduate with science and engineering degrees, said Freeman Hrabowski, III, president of the University of Maryland, Baltimore County (UMBC) during the 2013 William D. Carey lecture.
Hrabowski addressed the 38th Annual AAAS Forum on Science and Technology Policy on 2 May 2013—fifty years to the day after he had participated in the historic Birmingham Children's March, which was inspired by the late Dr. Martin Luther King, Jr. "I wanted a better education," Hrabowski said of his participation in that 1963 event. "All children really do want to be well-educated."
The Tech Council of Maryland (TCM), the state’s largest technology trade association with more than 400 biotechnology and technology members employing more than 200,000 in the region, announced at its 25th annual Dinner and Awards Celebration last night that Doug Doerfler was elected as chairman of TCM’s board. Doerfler was the association’s vice chairman and succeeds Larry Letow, who has served as chairman since 2010. TCM also named four current board members to executive leadership positions.
“I am honored to continue serving TCM at such an important and promising time,” said Doerfler. “Our members have become the catalysts of Maryland’s dynamic economy, creating new, high-paying jobs and discovering breakthrough technologies that can change our world. We may come from diverse backgrounds, but a single mission unifies us: creating a healthier, safer world with game-changing innovations right here in Maryland. I especially thank Larry Letow for his outstanding board leadership these past three years. He has positioned TCM, our membership and Maryland for a very bright future.”
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, last night announced the winners of its 2013 TCM Awards. The 25th annual celebration was attended by more than 750 technology and business leaders from around the state.
"Maryland is ripe with innovative companies – from ones focused on high tech and IT solutions that make businesses and governments run smoothly and securely, to biotech companies that are developing cutting-edge cures for serious diseases," said Doug Doerfler, chairman of TCM’s Board and founding president and CEO of MaxCyte, Inc. "Winners of the 2013 Tech Awards exemplify this broad cross section of individuals and companies that make up the Tech Council membership and are key to driving advances in all aspects of technology."
As a follow up to a $1 billion initiative last year that funded projects across the nation designed to improve outcomes and save money in the healthcare system, the Centers for Medicaid & Medicare Services today announced a second, $1 billion round of Health Care Innovation Awards.
According to CMS, funding will be awarded to provider groups, health systems, payers, states, public-private partnerships, for-profit organizations or any other parties that have developed innovative payment and delivery models to improve population health, quality of care and cost efficiency.
Having recently stressed that oncology is a core therapy area for its research, AstraZeneca is moving three of its cancer compounds into Phase III trials.
First up, MedImmune, AstraZeneca’s biologics R&D arm, has enrolled the first patient in a late-stage study of moxetumomab pasudotox. It is sponsored by the Cancer Therapy Evaluation Program at the US National Cancer Institute (NCI), and will evaluate the CD22 immunotoxin as a potential treatment in adults with hairy cell leukaemia who have not responded to or relapsed after standard therapy.
Entrepreneur Magazine has named Maryland the No. 1 state to start a new business, with neighboring Virginia following close behind at No. 3.
The California-based magazine cited the state's Maryland Entrepreneurs Resource List -- which connects experts with startups -- and the University of Maryland Baltimore County's initiative to find and train female entrepreneurs in choosing the state for the top position.
AURP 2015 International Conference Host
Would you like to highlight your city and your university research park by hosting AURP's 2015 International Conference? As the host park, you'll be recognized as a leader in the field and attract worldwide attention to the exciting progress and success of your region. Find out more about the requirements at AURP.net/hostrfp.
To be considered, submit your proposal, electronically, to This email address is being protected from spambots. You need JavaScript enabled to view it..
Deadline: Friday, September 6, 2013.
By Eve Green
Last week, the Baltimore BioPark played host to the Innovation Working Group, which consists of executives from the U.S.-Russia Bilateral Presidential Commission. The commission was founded as a joint venture between President Barack Obama and Russian President Dmitry Medvedev.
The highly anticipated event is an opportunity for the United States and Russia to find new ways to collaborate on projects in the fields of biotech and science. Members of the group were given a tour of the University of Maryland, College Park and Baltimore BioPark. The event was led by Oleg Fomichev, the Russian Deputy Minister of Economy, and Lorraine Hariton, Special Representative for Business and Commerce of the U.S. Department of State. Among those that joined the three day tour were chief executives of biotech companies from both Maryland and Russia, as well as leaders from the Pushchino BioTech Cluster.
As the provisions of the Affordable Care Act and HITECH Act are rolled out, providers and payers are looking for ways to address pain points varying from improving patient engagement and remote monitoring to helping consumers better understand their insurance options to making better use of patient information in the context of big data.
Some accelerators are helping members of the healthcare ecosystem and entrepreneurs find each other. These four healthcare accelerators are currently looking for applicants.
Version 2.0 of a plan to create an Office of mHealth in the U.S. Food and Drug Administration should be out soon. The office of U.S. Rep. Mike Honda, Silicon Valley’s Democratic Congressman who authored the legislation, said the next draft will at the least fine-tune the way the office would work with other federal agencies.
But is the big-ticket item – a new office dedicated to adding more context and understanding of mHealth within the federal agency – the most interesting thing about the bill? I don’t think so. Read through the details and see if you agree.
Health and Human Services Secretary Kathleen Sebelius is asking companies for financial donations to help implement President Barack Obama's healthcare overhaul, months before it is due to take effect.
In telephone calls that began around March 23, officials say, Obama's top healthcare adviser has been seeking assistance from companies in the healthcare field and other industries as well as from healthcare providers, patient advocacy groups, churches and other charitable organizations.
The University City Science Center is collaborating with the Canadian Consulate General to pilot a business accelerator for health information and communication technology companies from Canada.
Opening on May 13, 2013, the Canadian Technology Accelerator at the Science Center will provide a 3-6 month “market immersion” experience for Canadian health IT companies, leveraging the Science Center’s resources and networks through its Port business incubator.
Venture capital firm Grotech Ventures has raised $225 million that it plans to invest in early-stage technology companies.
The $225 million round, called Grotech Ventures II, is the firm’s eight fund. The firm had originally planned to raise $220 million but expanded to include new investors, said Grotech Managing General Partner and Founder Frank Adams.
It’s true that, geographically speaking, Maryland is a small state. But as the old saying goes, “Good things come in small packages,” and that is especially true when it comes to the resources, advice and technical expertise that Maryland offers inventors and technology entrepreneurs.
From university laboratories and research centers (such as The Johns Hopkins Applied Physics Laboratory, University of Maryland’s Office of Technology Commercialization or University of Maryland – Baltimore City’s ACTiVATE) to state organizations (Maryland Biotechnology Center or the Department of Business and Economic Development), a wide variety of entities are working to help entrepreneurs develop and market their inventions.
If you’re a startup working on a product for the healthcare industry, Boston is the place to be. During a trip to Bean Town, I was curious to hear what startup founders found most challenging in a city so rich with resources. The usual gripes I usually hear elsewhere, like troubles with seed funding or FDA regulation, didn’t come up as much. Instead, these founders seemed to find the more personal elements of entrepreneurship most challenging. Many times, I found myself talking to people who had made a shift from working in tech or research to becoming a business owner.
The community realizes that, though. In addition to numerous startup accelerators and incubators, Boston is home to lots of collaborative startup space.
Local businesses have seen needed venture capital and loans in greater abundance in recent months.
The amount of venture capital investment funneled to Montgomery County and Washington-area companies in 2013’s first quarter jumped by 30 percent from the same period a year ago, according to a recent report.
The $286.3 million invested in local companies in the first three months was the most in the quarter in five years, according to the report from PricewaterhouseCoopers LLP and the National Venture Capital Association, based on data by Thomson Reuters.
Governor Martin O’Malley today officially launched data.maryland.gov - Maryland’s first statewide open data portal that will provide researchers, entrepreneurs, public servants and citizens with a wide variety of data to support transparency and innovation in government. Data such as vendor payments, vehicle accidents, licensed veterinary clinics, GIS mapping data, and per capita electricity consumption will all be made available and housed in a central place for the public.
The Governor made this announcement at a panel discussion hosted in conjunction with the Future of Information Alliance (FIA) – a transdisciplinary partnership between the University of Maryland, College Park and 10 founding partners. The panel featured “futurists” and over 120 students, entrepreneurs and public servants who spoke about the importance of big data to better serve and inform the public.
Benlysta, a drug to treat lupus, has received approval from European regulators to be marketed in Europe, the drug’s co-makers, Human Genome Sciences Inc. of Rockville, and GlaxoSmithKline, its London-based parent, announced.
The European approval came two days after Benlysta, the first new treatment developed for lupus in 50 years, was approved for use in Canada.
The University of Maryland School of Medicine is launching a $500 million fundraising campaign, the largest in the school’s history.
The school plans to officially launch the capital campaign, “Transforming Medicine Beyond Imagination,” at its annual gala May 11. The event is considered a critical fundraiser for the school’s research and clinical programs.
May 15, 2013 8:00am - 10:00am
Tower Club, Tysons Corner
Attracting and retaining key employees is a challenge every business faces, and government contractors know that a valuable contract can hinge on making the right staffing choices. Savvy government contractors also recognize the necessity to maximize human capital within the constraints of sequestration, continuing resolution and lowest price technically acceptable contracts.
You're invited to this breakfast workshop to learn about powerful employee incentive compensation strategies that can provide significant competitive advantages for your business. These often underutilized plans can attract top quality employees through cash, equity and other equity-linked compensation methods. In addition to creating great work environments, innovative incentive plans allow government contractors to be successful amidst the current era of regulatory challenges.
Pluristem Therapeutics Inc. (Nasdaq:PSTI) (TASE:PLTR) today announced that its wholly owned subsidiary, Pluristem Ltd., has entered into an exclusive out-license agreement with United Therapeutics Corporation (Nasdaq:UTHR) for the use of Pluristem's PLacental eXpanded (PLX) cells to develop and commercialize a cell-based product for the treatment of Pulmonary Hypertension (PH).
Under the terms of the agreement, United Therapeutics will receive exclusive worldwide licensing rights for the development and commercialization of the future product for treating PH patients. Pluristem will retain all manufacturing rights; participate in the pre-clinical and clinical trial activities, as well as provide the commercial grade product.
UK pharmaceuticals giant GlaxoSmithKline has unveiled an "open innovation" platform through which it will publish data from its clinical trials online so it can be analysed by external researchers.
The online system allows scientists to submit a to request access anonymised drug trial data. Each request will be judged a panel of external experts appointed by GSK, and applicants must agree to publish their own findings.
A Johns Hopkins University faculty member will be helping advise the National Institutes of Health about research topics with the most promise for addressing public health challenges.
Janice E. Clements, vice dean for faculty at the Johns Hopkins University School of Medicine, has been selected to serve on the Council of Councils for NIH. Clements was among 10 individuals newly selected to serve on the 27-member council. Her term ends in October 2015.