Posts Tagged ‘Biotech’
Monday, May 9th, 2011
SC Launch, an SCRA affiliate, today announced that three client companies will receive investments in undisclosed amounts for their continuing projects. Greenville-based Dannar, Columbia-based Senex Biotechnology and Charleston-based Madeira Therapeutics will each receive SC Launch funds after presentation to and subsequent approval by the SC Launch Board of Directors.
Based in Greenville, SC and developed by Gary Dannar, Dannar’s technology offers hybrid/battery-electric systems to reduce emissions in transportation vehicles. The Dannar – Mobile PowerStation (MPS) is a leading edge OEM of purpose built vehicles for the government roadside and “Right-of-Way” management market.
A company formed by recently-named USC Endowed Chair Dr. Igor Roninson and Dr. Lawrence Friedhoff, Senex Biotechnology develops novel therapeutics for the treatment of major diseases. Target technologies include the treatment of cancer, viral diseases and age-related diseases by targeting damage-inducible signal transduction pathways involved in cellular aging.
Located in Charleston, SC, Madeira Therapeutics was founded to develop new pharmaceutical products for unmet medical needs in the pediatric population. Currently the FDA does not run separate clinical trials for pediatric applications; doctors simply apply adult approved drugs at smaller doses for children. Madeira Therapeutics strives to ensure drug safety and efficiency for intended patients in the pediatric setting.
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Tags: Biotech, Charleston, clean energy, Columbia, Dannar, financing, Greenville, Maderia Therapeutics, SC, SC Launch, Senex Biotechnology Posted in Biotech, Carolinas, Economic Development, Energy, Hardware, Money, South Carolina | Comments Off
Tuesday, February 22nd, 2011
MORRISVILLE, NC- Viamet Pharmaceuticals Inc. has raised $25 million in equity financing, according to a regulatory filing. The company focuses on enzymes that contain a metal, typically zinc or iron. About ten percent of current drugs target these “metalloenzymes.” Viamet’s technology makes those drugs more effective and safer, the company has said.
The company, founded in 2005, raised a $4 million round in 2007 and an $18 million B round in 2009 from Novartis Option Fund and Lilly Ventures. Existing investors who participated included Durham-based Intersouth Partners and Hatteras Venture Partners, also of Durham.
The filing with the US Securities and Exchange Commission disclosing the current raise lists Intersouth, Haatteras, and Novartis Option Fund in Cambridge, Mass.; Lurie Investment Fund in Chicago; and Indianapolis’ Lilly Ventures, a venture capital subsidiary of Eli Lilly and Co.
Other investors in the company include Headlands Ventures and Astellas Venture Management.
According to the company’s website, Viamet develops traditional small molecule compounds that exploit validated metalloenzyme targets in the fields of infectious disease and oncology. All of Viamet’s therapeutic programs target indications with blockbuster potential and where current therapies have significant clinical deficiencies that can be addressed by the company’s technology.
TechJournal South is a TechMedia company. TechMedia presents the annual conferences:
SoutheastVentureConference: www.seventure.org
Internet Summit: www.internetsummit.com
Digital East: www.digitaleast.com
Digital Summit: www.digitalsummit.com
Tags: Biotech, Durham, financing, Hatteras Ventures, Intersouth Partners, Lilly Ventures, Morrisville, NC, Novartis Option Fund, Pharma, Viamet Posted in Biotech, Carolinas, Healthcare, North Carolina, Pharma | Comments Off
Monday, February 7th, 2011
COLUMBIA, MD – The Maryland Technology Development Corporation (TEDCO), in collaboration with the Frederick County Office of Economic Development, have completed the Ft. Detrick Technology Transfer Initiative (FDTTI) and three final grant awardees.
Through the FDTTI program, 26 startup companies received a total of $1,300,000 for the development of technology solutions used to address medical needs of the U.S. Army. The final companies to receive funding are Oculearn, Fyodor Biotechnologies Inc., and Foxspire.
Each research team received $50,000.
The FDTTI program announced by Senator Barbara Mikulski in March 2005, allowed TEDCO to work with the U.S. Army Medical Research and Materiel Command to maintain awareness of new and developing technologies and to develop effective strategies for the transition of successful projects to follow-on funding.
The initial phase of the program provided funding for 11 companies, while the second phase of the program awarded funding to 15 different companies.
Oculearn,– Located in Mount Airy, Md., has designed technology to assist victims of Traumatic Brain Injuries (TBI) who have had services for their injuries discontinued due to limitation of benefits or due to the lack of improvement achieved during rehabilitation.
Fyodor Biotechnologies Inc. – Baltimore-based Fyodor Biotechnologies, Inc. collaborated with the Walter Reed Army Institute of Research (WRAIR) to test, further develop and commercialize its single and recombinant antibody-based urine test for rapid diagnosis of clinical malaria.
Foxspire – Located in Frederick, Md., Foxspire, LCC is working with USAMRMC to design and develop a system that tracks stock of infectious agents.
Tags: Biotech, Columbia, defense, FDTTI, Foxspire, Ft. Detrick Technology Transfer Initiative, Fyodor Biotech, grants, MD, Mt. Airy, Oculearn, TEDCO Posted in Biotech, Government/Defense, Maryland, Money, Potomac | Comments Off
Tuesday, January 4th, 2011
TAMPA, FL – Thar Pharmaceuticals, which has offices in Tampa and Pittsburgh, has raised $4.31 million toward a targeted $9.64 million sale of mixed securities, according to regulatory filings.
The company, which disclosed the offering in filings with the US Securities and Exchange Commission, raised just over $2 million of the offering last month and a new filing shows it has raised an $2.3 million toward the expanded goal of $9.64 million.
The company transforms drugs normally administered via intravenous IV into oral products, increasing their convenience and lowering the cost of treatment.
The company is one of three spinouts from Thar Technologies, formerly Thar Designs, founded by Dr. Lalit Chordia in 1990. The other two areThar Instruments, a provider for green analytical and preparative chromatography; Thar Process, a supercritical fluid technology company.
Tags: Biotech, financing, FL, Pharma, Tampa, Thar Pharmaceuticals Posted in Biotech, Florida, Healthcare, Money, Pharma | Comments Off
Thursday, December 23rd, 2010
HOLLY SPRINGS, NC – North Carolina has seen a small spate of job gains – many fueled by state and local incentives – the last months of 2010. Now, Novartis (NYSE: NVS) says it will expand its vaccine production plant in Holly Springs, adding another 100 jobs.
The $36 million expansion of the billion dollar facility will qualify the company to receive up to $3.7 million in state tax incentives.
Swiss-based Novartis says the new jobs will pay an average of $106.200 a year plus benefits. High paying jobs such as those tend to bleed more money into the local economy, which is one reason biotech and life science firms are eagerly sought by regions internationally.
The announcement of the Novartis expansion follows recent good economic development news in the state from smart phone maker HTC, Enviva, and Arvato.
Tags: Biotech, Economic Development, Holly Springs, jobs, NC, Novartis, Pharma Posted in Biotech, Carolinas, Economic Development, North Carolina, Pharma, TechJobs | Comments Off
Monday, December 13th, 2010
ASHBURN, VA - Innocoll Holdings Inc., a global pharmaceutical company selling topically applied healthcare products and surgical implants, has raised $5.25 million via a mixed securities offering, according to a regulatory filing.
The company raised $4 million selling mixed securities in 2009 and a $30 million A round of financing in 2007 led by Camulos Capital, with participation from Newsmith Capital Partners and Morgan Stanley.
It disclosed the current offering in a filing with the US Securities and Exchange Commission.
Innocoll focuses on the development of biodegradable surgical implants and topically applied healthcare products. It develops, makes and sells its products globally.
Its pipeline includes the CollaRx Gentamicin Surgical Implant, and a drug to treat and prevent surgical site infections; and CollaGUARD/Collieva, a drug for the treatment of ulcers, burns, split-skin donor sites, and other dermal wounds requiring temporary dermatoplasty.
The company’s Web site appears to be under construction.
Email TJS Editor Allan Maurer: Allan at Techjournalsouth dot com.
Tags: Ashburn, Biotech, financing, Innocoll Holdings, Medical Device, Pharma, VA Posted in Biotech, Healthcare, Medical Device, Money, Potomac, Virginia | Comments Off
Thursday, November 18th, 2010
RALEIGH, NC – Hair clippings, cayenne pepper and raw eggs – these are just a few of the odd ingredients recommended to keep those pesky deer away from your backyard garden. But what about farmers who have hundreds of acres of Christmas trees to protect? North Carolina State University extension specialists have now found an effective, inexpensive alternative to available commercial products to keep the deer at bay.
The NC State researchers, led by Jeff Owen, a Christmas-tree production specialist, are exploring the use of inexpensive, inedible food byproducts – such as dried blood and egg powder – typically sold in bulk to the pet-food industry to be used for flavoring.
Less expensive repellents
These byproducts cost 85 to 90 percent less than their commercial counterparts, and are found to be just as effective. Using these repellents – which can be purchased locally in bulk – may provide tree farmers an early Christmas present.
“These products have an unappealing taste, but the decaying smell actually elicits a fear response in the deer and keeps them away from the crops,” Owen says. “We’re continuing to look at similar products – like liver powder and fishmeal – to see if they work the same way.”
Owen says that Christmas-tree farms in North Carolina have long dealt with deer who harm the trees by horning (thrashing market-sized trees with their antlers to mark territory) and browsing (eating the buds and shoots off young trees.)
Damage can be extensive
Not all Fraser fir growers contend with these problems, but where deer populations are high, deer can eat young trees down to a pencil-sized stem. Damage can be so extensive that growers have abandoned fields of young trees. Hard-pressed growers will use a combination of selective hunting, deer repellents and food plots to divert deer from their trees.
“We initially looked into the effectiveness and feasibility of using different fencing and commercial repellents to protect trees and crops from deer. Both are successful, but are extremely expensive,” Owen explains. “When you take the commercial deer repellent that you find at your local hardware store and use it on a farmwide basis, you see growers budgeting as much for deer repellents as most of their other pesticides.”
Commercial deer repellents are so costly that Christmas tree growers use them at half-strength to be able to afford using them at all.
NC State and the N.C. Christmas Tree Association provided support for the research.
Tags: Biotech, Christmas trees, deer repellents, NC State research Posted in Biotech, Carolinas, North Carolina, University Tech | Comments Off
Wednesday, November 17th, 2010
By Brooks Adam
 Brooks Adams
The Center of Innovation for Nanobiotechnology (COIN) will be a bronze-level sponsor for the upcoming NNI Nanotechnology Innovation Summit, December 8-10 in Washington DC. It wll also help raise the profile of North Carolina’s nearly 40 nanobiotech and about 50 nanotechnology related firms by bringing along their marketing materials even for those that cannot attend.
COIN is a non-profit that promotes commercialization of nanobiotechnology in North Carolina and beyond. COIN’s programs and services are designed to help accelerate innovation management and new product development.
The upcoming conference celebrates the 10th anniversary of the NNI, and is a gathering of the nation’s top Federal Agencies, Innovators and Investors at the National Nanotechnology Innovation Summit. The Nation’s top nanotech leaders will be showcasing their successes and discussing strategic insights into Nanotechnology challenges and opportunities
COIN will be going there to represent the North Carolina nanobiotech industry and forge relationships to grow the nanobiotech community. If you want our team to help raise the profile of your company because you cannot attend the Summit, please contact clare.valcore@nc-coin.org to help facilitate getting your materials there. Otherwise, please come by our booth and meet us, as we will be exhibiting. We hope to see many of you there. –
Tags: Biotech, Brooks Adams, COIN, DC, nanotechnology, NNI Nanotechnology Innovation Summit, North Carolina Posted in Biotech, Carolinas, Energy, Nanotech, North Carolina | Comments Off
Monday, November 15th, 2010
BLACKSBURG, VA -Intrexon has closed on a $37.5 million mixed securities offering, according to a regulatory filing. The company’s D round attracted 65 investors. Intrexon is developing a cancer therapy that enhances the immune system.
In March, we reported that Intrexon had raised $17.4 million in its D round from 40 investors, according to a filing with the U.S. Securities and Exchange Commission. It disclosed the current financing amount in an amended filing with the SEC.
Intrexon raised the $25 million from two investors in December 2009, according to an SEC filing, which we reported here in January.
It raised $10 million in June last year and previously raised $25 million in 2007 for a total of $77 million plus.
New River Management funds, managed by Third Security, and NewVa Capital Partners have been the company’s primary investors.
Intrexon says its modular DNA control systems can enhance capabilities, improve safety and lower cost in human therapeutics, protein production, industrial enzymes and agbio.
Its most advanced immunomodulatory therapy is intended to control and enhance the immune-modulating performance of dendritic cells to treat solid tumor cancers.
It is also using its “UltraVector” system of modular DNA controls to enhance human protein production for therapeutic drugs.
It says its capabilities also represent “an unparalleled opportunity to develop protein production systems that can be embedded inside a patient’s body and then regulated through the dosing of our external small molecule activator.”
In September, the company bought the assets and operations of Avalon Pharmaceutical Inc., a subsidiary of Clinical Data Inc., and assumed the lease on its Germantown, MD bioassay facility.
The company’s headquarters is located at the Virginia Tech Corporate Research Center in Blacksburg, Virginia, which is also the primary site for its advanced transgene engineering operations. Intrexon has additional business and R&D operations located in Germantown, MD; San Francisco, CA; and Valley Forge, PA.
Tags: Biotech, Blacksburg, financing, immunotherapy, Intrexon, Pharma, VA Posted in Biotech, Money, Pharma, Potomac, Virginia | Comments Off
Wednesday, November 3rd, 2010
ATLANTA – Inhibitex, Inc. (NASDAQ: INHX) has been awarded approximately $489,000 in grants under the Qualifying Therapeutic Discovery Project Program. This program was created under the Patient Protection and Affordable Care Act of 2010 to provide tax credits or grants representing up to 50 percent of eligible qualified investments in therapeutic discovery projects during tax years 2009 and 2010.
Inhibitex was awarded the grants for FV-100, which is in Phase II clinical development for the treatment of shingles, and INX-189, a nucleotide polymerase inhibitor in Phase 1b clinical development for the treatment of chronic hepatitis C infections.
Cardiac Regeneration Technologies has received notification from the U.S. Internal Revenue Service (IRS) that it was approved to receive a grant in the amount of $244,000 for CRT’s investment in an unprecedented myocardial regeneration therapeutic discovery project. In July 2010, the company applied for the grant under the Qualifying Therapeutic Discovery Project.
Tags: Atlanta, Biotech, Cardiac Regeneration Technologies, federal grants, GA, Inhibitex, Pharma Posted in Biotech, Georgia, Money, Pharma | Comments Off
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