BHI Q&A with 3i Diagnostics, Inc. President & CEO, Jim Janicki & Chief Technology Officer, Rajesh Krishnamurthy

Company: 3i Diagnostics, Inc. “3iDx” www.3iDx.com

Location: Germantown Innovation Center/Launch Labs

Founded: 2013

Overview: 3iDx is an early stage company developing a new technology platform that is able to isolate and analyze microbes directly from samples for the purpose of identifying antimicrobial resistant strains in less than an hour without having to wait for up to a week for blood culture results. Their ultimate aim is to create a 15-minute test that runs in a battery powered handheld device.

AstraZeneca and MedImmune, have today announced  that the US Food and Drug Administration (FDA) has granted breakthrough therapy designation for Imfinzi (durvalumab) for the treatment of patients with locally-advanced, unresectable non-small cell lung cancer (NSCLC) whose disease has not progressed following platinum-based chemoradiation therapy.

GlaxoSmithKline (GSK) is axing 130 'non-core' brands and overhauling its prescription drugs business to focus on products that deliver stronger returns.

It is also stepping up a cost reduction program that has already bitten into media and marketing budgets across the consumer healthcare portfolio.

AstraZeneca and Merck & Co. announced on July 27, 2017 that they have entered a global strategic oncology collaboration to co-develop and co-commercialize AstraZeneca’s Lynparza (olaparib) for multiple cancer types. Lynparza is an oral poly ADP ribose polymerase (PARP) inhibitor for treating BRCA-mutated ovarian cancer in multiple lines of treatment. It was approved by FDA in December 2014 and generated 2016 sales of $218 million.

The Inova Personalized Health Accelerator (IPHA) is preparing to accept applications from early-stage startups focused on predicting, preventing and treating disease. Falls Church-based Inova Health System announced plans for the accelerator last December when it also launched Inova Strategic Investments, a venture-capital program. Both projects are housed at the new Inova Center for Personalized Health, a 117-acre campus in Fairfax County.

The road to launching a life science start-up can be a long and difficult one, with founders often struggling to secure funding and manage the logistics of setting up a business. In a move to encourage innovation and help start-ups hit the ground running, there are an increasing choice of accelerator and support programs becoming available.

We spoke to Giovanni Rizzo, PhD MBA Chief of Innovation Division, Z-Cube S.r.l. to learn more about such programs and the difference they can make to innovation, as well as share some tips for academics beginning a start-up venture. 

Sucampo’s (NASDAQ:SCMP) share price has been stuck in a range for a considerable time, but the company wasn’t idle - management has been working hard to move the company away from its legacy product Amitiza into rare diseases. Sucampo made two transactions since early 2016 and now has two late-stage orphan assets (one wholly owned and an option on the other) with data readouts in 2018. Sucampo is generating strong free cash flow and expects to continue to build out its late-stage orphan drug pipeline. Meanwhile, Amitiza has been growing at a steady pace and that’s despite the growing competition in the constipation space. I believe that cash flow from Amitiza provides downside protection while the orphan pipeline stands to add significant value in the long run.

Tuesday, August 22, 2017 from 8:30 AM to 10:30 AM

The MITRE Corporation, BHI, and Montgomery County Economic Development Corporation are pleased to announce the Innovation Bridge Breakfast Series at the Rockville Innovation Center. We hope you will join us for the first in a quarterly series of technology talks, geared to foster innovation and create connections among the regional entrepreneurial community.Sign-up soon! Registration is limited.

As the White House and the US Congress continue to lock horns over President Donald Trump's proposed budget, scientists are once again anxious about funding levels. But more money is not enough to create better science. Indeed, the scientific enterprise has been betrayed by the mismanagement of its financial support.

In the craft-beer industry, the majority of hops — the flowers used in production that add bitterness and aroma to the product — come from the Pacific Northwest region.

Could Maryland, too, be a fertile region for hops?

GlaxoSmithKline will cut more than 30 drug development programmes and may sell its rare diseases unit, as the FTSE 100 group seeks to inject more “edge and pace” into its decision making, its new chief executive Emma Walmsley has said.

The day after emocha® Mobile Health, Inc., launched in 2013, CEO Sebastian Seiguer (pronounced SAY-ger) heard about a 3-year-old tuberculosis (TB) patient being treated at a Baltimore clinic. Maryland requires healthcare providers to watch patients take every dose of their medication for active TB treatment, an approach known as directly observed therapy (DOT). But coordinating with the clinic every day was proving too difficult for the girl's mother to manage. To keep up with the treatments, she would have had to quit her job.

No area is hotter or attracting more dollars in pharma than immuno-oncology–the idea of harnessing the immune system to fight cancer. My fellow Forbes contributor Bruce Booth has recently characterized the intensifying interest in this space as the “exploding supernova” of cancer research.

Emergent BioSolutions Inc. (NYSE:EBS) today announced a licensing agreement with Valneva SE for global exclusive rights to Valneva's Zika vaccine technology, ZIKV. Emergent and Valneva will co-develop ZIKV-VLA1601, a highly purified inactivated vaccine candidate against the Zika virus, from preclinical development through completion of a Phase 1 safety and immunogenicity clinical trial. ZIKV-VLA1601, which has shown to elicit functional antibody responses, is based on Valneva's established inactivated, whole virus manufacturing platform on which its licensed Japanese Encephalitis vaccine was developed and produced.

IonQ, an early-stage company developing quantum computing for commercial applications, today announced completion of a $20 million series B round led by New Enterprise Associates (NEA) and GV (formerly Google Ventures), with participation from new strategic investors. Building on the pioneering work of world-renowned experts at the University of Maryland and Duke University, IonQ plans to bring general-purpose quantum computers to market by late 2018.

A new type of trial design can help the healthcare industry bring beneficial therapies to patients sooner and stop researching inferior ones earlier.

Value has found a place at the heart of healthcare innovation. For money-conscious governments and other actors in the system, it’s not enough that a new treatment be beneficial and safe. It also needs to be cost effective.

Calling All Medical Device Innovators!

We are now accepting proposals for our annual $250K pediatric medical device pitch competition. Up to six innovations will be awarded up to $50,000 each during our 5th Annual Pediatric Surgical Innovation Symposium.

Registration Open – 5th Annual Pediatric Device Innovation Symposium We are pleased to announce that our 5th annual Pediatric Device Innovation Symposium, “Partnering for Breakthroughs in Pediatric Surgery and Care,” is co-locating in San Jose, California in a joint effort with The MedTech Conference powered by AdvaMed – the premiere gathering of medtech professionals in North America.

Join us Sunday, September 24, 2017

Here are some of the event highlights:

Keynotes and panels on topics related to pediatric device innovation Make your Medical Device Pitch for Kids! competition - $250K in funding Invaluable networking opportunities to meet, learn and get inspired by your fellow medtech innovators Special savings when you attend the Symposium and The MedTech Conference

About the Cluster Action Plan TOHealth! brought together diverse participants from Human Health and Sciences ecosystem in the Toronto region to develop Ontario’s first draft Cluster Action Plan under the Partnerships for Jobs and Growth Act. The draft Plan has been approved by the Minister of Economic Development and Growth / Research Innovation and Science and is now subject to a 30 day public consultation. Please download the draft documents using links above and share your comments using the button below. The consultation period ends August 11, 2017.

The Galien Foundation announced today the 2017 Annual Prix Galien USA Awards Nominees.

Worldwide regarded as the equivalent of the Nobel Prize in biopharmaceutical and medical technology research, the Prix Galien recognizes outstanding biomedical and technology product achievement that improves the human condition.

Canaan has put together an $800 million investment fund. The fund positions Canaan to place a fresh round of bets on early-stage biotechs, continuing the strategy that has delivered it paydays as companies including Johnson & Johnson and Teva have snapped up pieces of its portfolio.

The University System of Maryland (USM) has named business innovator David W. Wise, MALD, as director of the Maryland Momentum Fund (MMF), a $25 million fund to support startups formed within the system’s 12 institutions and its incubators. He joined USM on July 24.

Global University Venturing’s last issue before the summer provides an opportunity to look back at the first six months of the year – as the data reveals, it has been a busy period with activity picking up significantly towards the end of the second quarter.

That increased activity, however, appears not to have translated into a boost for the total amount of capital raised compared with the same period last year. Although there were 44 deals in June, they amounted to only $365.3m of transaction value – a drop of nearly $90m from May.

The University of Maryland, Baltimore (UMB) has been selected as one of "The Great Colleges to Work For" by The Chronicle of Higher Education. The results of its national survey, which were released in the magazine’s Academic Workplace supplement that came out July 21, lauded UMB in the categories of collaborative governance, compensation and benefits, and confidence in senior leadership.

The global population will increase to almost ten billion by 2050 while greenhouse gas emissions from agriculture continue to rise. We need to intensify food production while shrinking agriculture’s impact on the environment. Canadian biotechnology is helping farmers produce more food while simultaneously reducing the environmental footprint of agriculture.

Australian biotech, Trimph, has successfully completed a first-in-human trial of its proprietary bone “glue”, TrimphDent, the only bone graft substitute in the world to be applied in liquid form, halving the time of patient recovery, and requiring no specialised preparation or additional surgical expertise.

This breakthrough will allow Trimph to progress towards registering TrimphDent and launching into global markets, which could provide significantly more affordable and accessible oral surgeries to rural and disadvantaged communities across the globe.

An Annapolis firm focused on building medical devices to monitor heart disease has raised $1.5 million to help bring its first product to market.

Vixiar Medical Inc., a spinout of Johns Hopkins, is developing non-invasive devices and systems for monitoring cardiopulmonary diseases. Its seed round included investors from the U.S. Asia and Europe. Local investors include the Abell Foundation and Maryland Technology Development Corp. The company is based on technology licensed from Hopkins and invented by cardiologist Dr. Harry Silber.

GSK announced today that the US Food and Drug Administration (FDA) has approved a new subcutaneous formulation of Benlysta (belimumab) for the treatment of adult patients with active, autoantibody-positive SLE who are receiving standard therapy. Systemic Lupus Erythematosus (SLE) is the most common form of lupus, a chronic, incurable autoimmune disease producing autoantibodies that can attack almost any system in the body. The approval marks the first subcutaneous self-injection treatment option for patients with SLE.

Since 2013, Shire has been stepping up its strategy to become the world’s leading company for people with rare diseases. McKinsey senior partners Martin Dewhurst and Andy West recently talked with Shire’s CEO, Flemming Ørnskov, about the company’s efforts to transform and the importance of staying three steps ahead of the organization you’re leading. In this interview, part of our Biopharma Frontiers series on how the pharmaceutical industry is evolving and how leaders can adapt, Ørnskov discusses his vision for the future and the critical elements of leadership. An edited transcript of their conversation follows.

Elon Musk just tweeted that his Boring Company tunnel project has received “verbal [government] approval” to build a hyperloop connecting New York City, Philadelphia, Baltimore, and Washington, DC.

Master of Professional Studies in Technology Entrepreneurship

The University of Maryland’s Master of Professional Studies (MPS) in Technology Entrepreneurship educates and empowers students to launch and lead innovative startups and corporate ventures. Our unique experiential learning model incorporates online instruction and coaching, global networking opportunities, and funding opportunities with leading investors. This 100% online offering is a 15-month, part-time program for approximately $20,000.

Live Information Session July 24, at 1 p.m., EST

A startup that spun out of research at the University of Maryland School of Medicine was acquired 18 months after forming.

In a deal announced this week, Living Pharma was acquired by Lentigen Technology Inc., a Gaithersburg-based subsidiary of Miltenyi Biotec GmbH. Terms were not disclosed.

VLP Therapeutics, LLC ("VLP"), a biotechnology company focusing on the research and development of therapeutic and preventative vaccines and antibody agents, today announced the appointment of Jacob Licht as Chief Operating Officer. 

Richard Mason is head of J&J Innovation for the EMEA region, and identifying and investing in the most promising early-stage drug ideas outside the company is one of his key roles.

This ‘open innovation’ strategy is being pursued by all the big pharma companies – and now it’s simply a matter of who executes best on this approach.

The Maryland Department of Commerce has an opportunity for you to soft land in the Hague Security Delta (HSD) — the largest security cluster of Europe — providing you with access to the full EU market.

Benefits of participating in the program:

• Access to shared office space at the HSD Campus — the national innovation centre for security in The Hague — at no cost to you.
• Mentorship from HSD, InnovationQuarter and the Dutch Chamber of Commerce.
• Greater exposure to global partners and opportunities to pursue clients.
• Support in accessing financial resources, engaging strategic partners, and refining business models for market opportunities in the EU region.
• Option to apply for Commerce’s ExportMD program to partially fund your travel and marketing costs.

The 2017 American Small Business Cybersecurity Xchange on October 12th will bring together cybersecurity thought leaders from government and industry and executives from small and  edium-sized businesses (SMB) in a unique one-of-a-kind event. Cyber Crime Expert and Author Kevin Poulsen will give a keynote addressing this year’s theme, Preparing for Current and Emerging Threats. Designed exclusively for SMBs, the conference establishes a trusted forum for insights and action where attendees come to:

• Gain insights about current and emerging cybersecurity threats to their organizations
• Learn about new and upcoming regulatory, legislative, and supply chain requirements for cybersecurity
• Hear from government and industry experts about best practices and solutions to improve SMB cybersecurity
• Network with other SMB executives to promote information sharing and collaboration
• Learn about available cybersecurity tools and resources