For Immediate Release: Wednesday, October 23, 2024 - Montgomery County Executive Marc Elrich today announced the launch of a $10 million Job Creation Fund, a new initiative aimed at driving economic growth and encouraging job creation in the County’s key industries. The program, established by a special appropriation through County Council Resolution 20-491, led by Council President Andrew Friedson, will provide financial incentives of up to $500,000 for businesses that create high-paying jobs in sectors such as advanced technology, life sciences, cybersecurity, hospitality and quantum computing.

Eligible companies can receive $10,000 for each new job created, with increased incentives for businesses located in disadvantaged areas as defined by the County’s Community Equity Index. The fund is designed to build on Montgomery County’s reputation as a hub for innovation and economic opportunity, while also supporting job creation that strengthens the local workforce.

The Advanced Research Projects Agency for Health (ARPA-H), an agency within the U.S. Department of Health and Human Services (HHS), today announced the teams selected by its Sprint for Women’s Health to receive awards. The agency committed over $110 million to fund solutions for health conditions that uniquely or disproportionately affect women. This effort will advance the White House Initiative on Women’s Health Research and help spur the type of innovation and private sector engagement long needed to improve women’s health.  

ROCKVILLE, Md., Oct. 23, 2024 /PRNewswire/ -- Rise Therapeutics announced today that it has received funding from the National Institute of Diabetes and Digestive and Kidney Diseases (NIDDK) at the National Institute of Health (NIH) to enable infrastructure improvement that will scale GMP production and accelerate quality assurance (QA) and quality control (QC), significantly enhancing its biologics drug manufacturing capabilities. This Commercial Readiness Pilot (CRP) Program SBIR award will also support Phase 2 clinical GMP manufacturing to advance Rise Therapeutics' R-3750 program currently completing a Phase 1 proof-of-concept clinical trial in patients suffering from ulcerative colitis.

WASHINGTON, D.C., Oct. 23, 2024 (GLOBE NEWSWIRE) -- Pain assessment in medicine often relies on imprecise visual rating scales featuring smiling or crying faces, frustrating patients and physicians alike. Children’s National Hospital researchers aim to change this with a new device designed to precisely measure pain, backed by an $8-million award from the Advanced Research Projects Agency for Health (ARPA-H) Sprint for Women’s Health. 
  

FREDERICK, Md., Oct. 23, 2024 /PRNewswire/ -- Theradaptive, a privately held, clinical stage biologics company developing protein therapeutics for spine, orthopedics, soft tissue repair and targeted immuno-oncology, announced today that OsteoAdapt™ SP  has received the Gold Level Award for Best Technology in Spine 2024 by Orthopedics This Week.

SILVER SPRING, Md. & JACKSONVILLE, Fla.--(BUSINESS WIRE)--United Therapeutics Corporation (Nasdaq: UTHR), a public benefit corporation, and its subsidiary Lung Bioengineering Inc. (LBE) announced that the 500^th lung transplant utilizing LBE’s centralized ex vivo lung perfusion (EVLP) service was completed last month. These 500 transplants were the result of evaluating over 800 donated lungs using centralized EVLP since 2014.

By: Tammi Thomas, Chief Development and Marketing Officer, TEDCO

The 2024 BioHealth Capital Region Forum (BHCRF) once again solidified its position as the premier gathering for the life sciences industry in the region. Marking the tenth year of the impactful event,  hundreds of industry leaders, government officials, academic researchers and investors were brought together to discuss the latest trends, challenges and opportunities in the field.

A well-oiled collaboration

It takes a village to plan and manage a forum. The BioHealth Capital Region (BHCR) Conference planning committee collaborated with sponsors including TEDCO and event management from Taylor Made Experience to ensure an organized, engaging event.

TEDCO’s chief investment officer Jack Miner praised the BioHealth region and forum, noting “This region is probably the most functional in terms of sharing resources, not diluting each other’s efforts…the entrepreneurs really benefit a lot from the collaboration that’s been created in this region, and that’s really unique.”

Richard Bendis, founder, president, and CEO of BHI agreed, stating “We’re proud to have TEDCO as a collaborator who is funding a lot of the early-stage life science companies in the state of Maryland that actually are participants in this event.”

ROCKVILLE, Md. & DEERFIELD, Ill.--(BUSINESS WIRE)--Oct. 22, 2024-- MacroGenics, Inc. (NASDAQ: MGNX), a biopharmaceutical company focused on discovering, developing, manufacturing and commercializing innovative antibody-based therapeutics for the treatment of cancer, and TerSera Therapeutics LLC, a privately-held biopharmaceutical company with a focus in oncology and non-opioid pain management, announced today that they have entered into an agreement in which TerSera will acquire global rights to MARGENZA® (margetuximab-cmkb).

ROCKVILLE, MD - October 21, 2024 – Today, the U.S. Pharmacopeia (USP) announced the acquisition of Stratix Labs, a microbiology technology company based in Saint Paul, MN. This acquisition marks a significant milestone for USP’s portfolio, as it will expand its microbiological solutions supporting microbial contamination control with broad applications across pharmaceuticals, including biologics and compounded medications.

Microbiological quality control is essential to ensure fundamental contamination control measures are in place during pharmaceutical production and preparation. Increased demand and expedited timelines require the industry to identify and implement new approaches to quality control throughout the drug production process, particularly for sterile products. By acquiring Stratix Labs, USP will be better equipped to help drug manufacturers, developers, and compounding entities address industry gaps in microbial contamination control strategies, mitigating the risk of contaminated products reaching patients.

This article originally appeared in the Association for the Advancement of Medical Instrumentation’s (AAMI) new Insights into Innovation series is authored by Kolaleh Eskandanian, Ph.D., M.B.A., P.M.P., vice president and chief innovation officer at Children’s National and principal investigator of SPARK Innovations in Pediatrics, the BARDA Accelerator Network Hub for Special Populations.

October 21, 2024- In the realm of public health and emergency preparedness, one of the most pressing challenges is ensuring that children and special populations are adequately protected. The ongoing global threats—whether pandemics, natural disasters, or acts of terrorism—have highlighted the vulnerability of these groups. Children in particular face unique physiological and developmental risks that necessitate specialized medical countermeasures (MCMs). Yet, the development of pediatric-specific MCMs has long been hindered by significant regulatory, ethical, and financial challenges.

Addressing these concerns, the SPARK Accelerator, led by Children’s National Hospital in partnership with the Biomedical Advanced Research and Development Authority (BARDA), is poised to accelerate the development of medical countermeasures tailored to the pediatric population. With a consortium of partners, including BioHealth Innovation (BHI), CIMIT, University Hospitals Rainbow Babies and Children’s Hospital, and strategic industry players such as Johnson & Johnson Innovation JLABS, SPARK is creating a global hub that primarily focuses on innovations for children.

In this episode of BioTalk, Rich Bendis speaks with Dr. Frank Gupton, Co-Founder of Phlow and CEO of the Medicines for All Institute, about his pioneering efforts to improve pharmaceutical manufacturing and global access to essential medications.

Dr. Gupton shares how Phlow is addressing vulnerabilities in the U.S. pharmaceutical supply chain by producing critical medicines domestically, and how the Medicines for All Institute is reshaping the way drugs are made by reducing costs and streamlining production. Drawing on his extensive experience in the pharmaceutical industry, Dr. Gupton discusses the ongoing challenges of ensuring that lifesaving medicines reach those in need worldwide.

Listen now on your favorite podcast platform:

Apple: https://apple.co/40fndE6 
Spotify: https://spoti.fi/3BUBe00 
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TuneIn: https://bit.ly/2M60Wmx 

The discussion also touches on the future of pharmaceutical manufacturing, from emerging technologies like continuous processing to green chemistry's role in creating more sustainable production methods. Dr. Gupton provides insight into how partnerships and collaboration are vital to accelerating these innovations.

Join the conversation to hear about the impactful work being done to transform drug manufacturing and access on a global scale.

ROCKVILLE, Md., Oct. 21, 2024 /PRNewswire/ -- REGENXBIO Inc. (Nasdaq: RGNX) today announced positive data from the Phase II fellow eye sub-study evaluating the subretinal delivery of ABBV-RGX-314 in patients with bilateral wet age-related macular degeneration (wet AMD). The new data were presented at the American Academy of Ophthalmology (AAO) meeting by Arshad Khanani, M.D., M.A., FASRS, Director of Clinical Research at Sierra Eye Associates, Reno, NV.

Baltimore’s reputation for life sciences innovation largely rests on the people, products and capital from its biggest research universities

Even with the resources of institutions like the University of Maryland (UM) BioPark, the city’s biotech boosters spent years trying to clear a hurdle they said stifled the sector’s development: a lack of wet lab space and related facilities where scientists and spinouts could actually work.

Come January 2025, more of this space will open up in West Baltimore, just across Martin Luther King Jr. Boulevard from downtown, when UM BioPark launches the first phase of 4MLK. 

ROCKVILLE, Md., Oct. 17, 2024 (GLOBE NEWSWIRE) -- Supernus Pharmaceuticals, Inc. (Nasdaq: SUPN), a biopharmaceutical company focused on developing and commercializing products for the treatment of central nervous system (CNS) diseases, today announced data from its exploratory open-label Phase 2a clinical study of SPN-820 in adults with major depressive disorder. The study examined the safety and tolerability of SPN-820 2400 mg given once every 3 days as an adjunctive treatment to the current baseline antidepressant therapy, as well as assessed the rapid onset of improvement in depressive symptoms. The analysis is based on 40 enrolled subjects, of which 38 completed the 10-day treatment period.

The tide has been rising in biotech investment in 2024—though it has not lifted all boats equally.

While the volume of investment improved in the first half of 2024, much of it went to a few “mega deals,” leaving many promising small biotechs still seeking funding, according to data presented during the Oct. 15 opening panel of the 2024 BIO Investor Forum in San Francisco, hosted by the Biotechnology Innovation Organization (BIO).

Still, the situation is improving, according to panelists in the session, “Understanding the Fundraising Environment for Biotech Companies,” which was moderated by Jesse Essaff, Director, Life Science & Healthcare, Commercial Banking – HSBC Bank USA.

Federal agencies, defense contractors spur growth at Rivanna Station, North Fork Discovery Park
On 462 acres in Albemarle County, a plot of land along U.S. Route 29 adjacent to a federal intelligence hotspot is the latest addition to a growing cluster of industries coming to define the Charlottesville area. County officials identified the plot as a place where academic institutions, private industry focused on defense and biotech, and government agencies could come together, develop partnerships, and benefit from their proximity and talent. The county Board of Supervisors finalized the agreement to purchase the property in late 2023, the largest parcel of land purchased in the county’s history.

The new plot is adjacent to Rivanna Station, the aforementioned intelligence cluster, and directly across from the University of Virginia’s (UVA) North Fork Discovery Park, another parcel that spans more than 500 acres and hosts a similar range of organizations. Together, the growing Rivanna Station and North Fork campuses allow the industries to grow in a region increasingly known for defense and biotech companies. The county plans to use the land to establish what it’s calling an Intelligence and National Security Innovation Acceleration Campus, where defense contractors, the U.S. Department of Defense, and academia can cooperate to solve national security problems.

ROCKVILLE, Md.--(BUSINESS WIRE)--BrainScope, a leader in brain diagnostics, today announced the successful completion of the proof-of-concept phase for a novel brain activity-based biomarker for the prediction of onset of Alzheimer’s disease at its earliest stage in normal elderly individuals with memory complaints. This breakthrough was supported by an investment from the Alzheimer’s Drug Discovery Foundation (ADDF).

WASHINGTON, Oct. 15, 2024 (GLOBE NEWSWIRE) -- Six medical technology innovators focused on pediatric cardiology were selected to receive grants of $50,000 each in the “Make Your Medical Device Pitch for Kids!TM” competition in Toronto. The funds will help awardees bring their devices to the market and improve care for children with heart conditions.  

Company continues to expect to hold an End-of-Phase 2 meeting with the FDA by year-end

GAITHERSBURG, Md., Oct. 15, 2024 (GLOBE NEWSWIRE) -- Cartesian Therapeutics, Inc. (NASDAQ: RNAC) (the “Company”), a clinical-stage biotechnology company pioneering mRNA cell therapy for autoimmune diseases, today announced the presentation of data from its Phase 2b trial of Descartes-08 in patients with generalized myasthenia gravis (MG) during the 2024 Myasthenia Gravis Foundation of America (MGFA) Scientific Session of the American Association of Neuromuscular and Electrodiagnostic Medicine (AANEM) Annual Meeting being held today in Savannah, Georgia. Positive topline results from the trial were previously announced in July 2024. A copy of today’s presentation will be available in the Publications and Presentations section of the Company’s website.

GERMANTOWN, Md., October 15, 2024 (Newswire.com) - Seraxis Inc., a clinical-stage regenerative medicine company, has received the FDA’s allowance of an Investigational New Drug (IND) application for a Phase I/II clinical study of its novel islet replacement therapy SR-02. SR-02 is the first reprogrammed stem cell-derived pancreatic product candidate allowed by the FDA for testing in humans as a potential functional cure for insulin-requiring diabetes.

By Rebecca Barnabi: Published date:October 14, 2024 -  Thought leaders from academia and medical practice explored how artificial intelligence can advance children’s health care at the second annual Children’s National Hospital-Virginia Tech Symposium on AI for Pediatric Health at the Children’s National Research & Innovation Campus in Washington, D.C.

Rowland Illing, chief medical officer and director of international public sector health at Amazon Web Services (AWS), discussed the transformative impact of AI, machine learning and cloud technology.

BALTIMORE, MD, October 14, 2024 – BioBuzz Networks, Inc. and ScienceWerx, Inc., a 501c(3) nonprofit organization based in Frederick, MD, have entered into a strategic technology partnership. Through this new partnership, ScienceWerx will lead the technology development of BioBuzz’s AI-powered life science community platform and talent marketplace. The companies will also be working together to deploy their collective expertise to support regional economic and workforce development initiatives within emerging innovation ecosystems.

COLUMBIA, Md., (October 10, 2024) — TEDCO, Maryland’s economic engine for technology companies, announced a recent $100,000 Pre-Seed Builder Fund investment in PerSoN, a company creating digital health solutions to support complex mental health conditions. Businesses receiving an investment from TEDCO’s Pre-Seed Builder Fund, housed under TEDCO’s Social Impact Funds, receive access to a variety of benefits designed to nurture business growth.

Italy, October 10th, 2024 – For the fourth consecutive year, PQE Group is among the winners in the 7th edition of the Best Managed Companies Award, which recognizes entrepreneurial excellence in Made in Italy. This award is promoted by Deloitte Private in collaboration with ELITE-Euronext Group, Piccola Industria Confindustria, and with the methodological and strategic support of ALTIS Graduate School of Sustainable Management at the Catholic University of the Sacred Heart.

Olivia Schwern - Associate @ J.P. Morgan | Life Sciences Private Capital

Our take from Q3, in short:

• Attracting new LP capital is still a feat. According to Carta, less than 10% of 2021 private funds have returned any capital to their LPs after three years, limiting allocators' ability to assess new opportunities.
• Healthcare has been a consistent bright spot. Over 1-in-4 LP dollars deployed into VC in 2024 have gone into healthcare-focused funds – the highest share in over five years.
• This dynamic has led to a revival in deal activity. If the current pace holds, private healthcare companies will raise ~$70 billion in 2024, an impressive >40% pickup from last year.
• Valuations continued to find support. We still believe life sciences investors today are more likely to get into quality companies at attractive prices relative to recent years.
• Finally, the healthcare exit market is staging a comeback. Q3 saw 97 VC-backed companies exit – 18 via IPO, 79 via M&A.
  
  

BURLINGTON, Mass., October 09, 2024--(BUSINESS WIRE)--MilliporeSigma, the U.S. and Canada Life Science business of Merck KGaA, Darmstadt, Germany, has opened its new €290 million biosafety testing facility in Rockville, Maryland, USA. Biosafety testing and analytical development are fundamental components of drug development and commercialization for traditional and novel modalities. Global demand for these services is growing at a double-digit rate¹.

Children’s National Hospital in Washington, D.C., was ranked as a top hospital in the nation by the U.S. News & World Report 2024-25 Best Children’s Hospitals annual rankings. This marks the eighth straight year Children’s National has made the Honor Roll list. The Honor Roll is a distinction awarded to only 10 children’s hospitals nationwide.

This year, U.S. News ended ordinal rankings on its Honor Roll. Instead of assigning a numerical rank from 1 to 10, all hospitals on the Honor Roll will be recognized as having attained the highest standards of care in the nation.

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CHARLOTTESVILLE, Va., October 8, 2024 -- AMPEL BioSolutions announced a precision medicine blood test that could save lives by predicting heart disease before it happens and providing decision support for prophylactic therapies.  Inflammatory and immune system abnormalities identified in the blood of individuals predisposed to heart disease by AMPEL two years ago were confirmed and extended in the peer-reviewed Cell iScience paper announced today. Examination of genes expressed in single cells isolated from atherosclerotic coronary artery plaques revealed biomarkers that can be measured by AMPEL's CardioGENE^® blood test.

Program aims to reduce drug safety failure rate and improve efficacy prediction before clinical trials start 

The Advanced Research Projects Agency for Health (ARPA-H), an agency within the U.S. Department of Health and Human Services (HHS), today announced a new funding opportunity through its Computational ADME-Tox and Physiology Analysis for Safer Therapeutics (CATALYST) program. CATALYST intends to create human physiology-based computer models to accurately predict safety and efficacy profiles for Investigational New Drug (IND) candidates.  

The Maryland MedTech ecosystem is unique for several reasons, particularly its rich blend of resources, institutions, and infrastructure that support innovation in medical technology. Here are some key features that make it stand out:

1.      Proximity to Leading Research Institutions

• • Johns Hopkins University and the University of Maryland are world-class research institutions that have robust medical and biomedical engineering programs. These universities foster cutting-edge research and serve as breeding grounds for MedTech innovation.

• • Maryland is also home to the National Institutes of Health (NIH), the world’s largest medical research agency, which provides funding, research collaborations, and access to critical expertise.

2.      Federal Agencies and Regulatory Bodies

• • The presence of FDA headquarters in Maryland gives local companies close access to regulatory experts. This is crucial for MedTech startups, as navigating the regulatory approval process is often one of the biggest challenges they face.
  • Other federal agencies like the Centers for Medicare & Medicaid Services (CMS) and various defense agencies that have a stake in health technologies are also located nearby.

3.      Vibrant Start-up and Investment Scene

• Maryland’s ecosystem has a growing number of incubators and accelerators focused on MedTech.  Notable ones include the LaunchPort Accelerator, which supports medical device startups by providing them with the resources to prototype, manufacture, and commercialize their innovations.
• There is strong financial support from angel investors and venture capital firms specializing in healthcare technologies, creating opportunities for funding and scaling businesses.

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Federal Reserve Bank of Richmond’s R. Andrew Bauer and Fulton Bank’s Joe Durham will be the morning keynote at the upcoming premier event

COLUMBIA, Md., (October 3, 2024) — TEDCO, Maryland’s economic engine for technology companies, announced the two morning keynote speakers for its Entrepreneur Expo – R. Andrew (“Andy”) Bauer of the Federal Reserve Bank of Richmond and Joe Durham of Fulton Bank. The upcoming event will take place on December 4, 2024, at the Renaissance Baltimore Harborplace Hotel.

The NIH Common Fund is funding five new research awards to Health Equity Research Hubs that will support community-led research projects. These awards total more than $37 million over five years, pending availability of funds.

Structural factors in communities such as access to education, health care, and social context shape the health of those communities and contribute to ongoing health disparities. Developing new programs that target the causes of these disparities is integral to improving equal access to health resources. The needs of communities vary, so input from individuals and local leadership is critical to develop successful, sustainable initiatives. The Community Partnerships to Advance Science for Society (ComPASS) Program was designed for community-based organizations to lead the way in researching, designing, implementing, and assessing projects that address community needs and reduce health disparities.