BUSINESS Venture Funding Stabilizes, Shifts to Biotech, Shuns Energy Venture-capital funding for startup companies stabilized in the fourth quarter, with investor interest shifting toward drug development and away from clean energy. [Bloomberg] Turmoil at Baylor College of Medicine Over Conflicts, Possible Suitor Worries about future governance continue to shake Baylor College of Medicine, the top ranked, but financially troubled research institution in Houston, Texas. [Science Insider] GenVec Enters Collaboration on Hearing Loss Treatments with Leading Global Pharmaceutical Company GenVec and Novartis will collaborate to discover and develop novel treatments for hearing loss and balance disorders. Preclinical results suggest that delivery of the atonal gene using GenVec’s innovative adenovector technology may have the potential to restore hearing and balance function. [GenVec Press Release] The Automation Partnership Begins New Five Year Collaboration with Top Regenerative Medicine Centre Following an Injection of £5.3 Million from the UK Government The Automation Partnership announced recently that its collaboration with leading translational research group, the Engineering and Physical Sciences Research Council Centre for Innovative Manufacturing in Regenerative Medicine at Loughborough University is to continue into a second five year phase. [The Automation Partnership Press Release] Stem Cell Assurance Announces a Financing and Marketing Partnership with MDwerks Stem Cell Assurance, Inc. and MDwerks, Inc. announced a financing and marketing partnership wherein MDwerks, through its Xeni Finance subsidiary, has provided the first tranche of financing to Stem Cell for the purchase of various medical devices from Cytori Therapeutics, Inc. [Stem Cell Assurance, Inc. Press Release] Aastrom Biosciences Announces Closing of Unit Offering Aastrom Biosciences, Inc. announced the closing of its previously announced underwritten public offering from which the Company received approximately $12.4 million in net proceeds from the sale of the units (including the partially exercised option of the over-allotment), after underwriting discounts and commissions and other offering expenses. [Aastrom Biosciences, Inc. Press Release] Oxford BioMedica Secures Exclusive License for Key Intellectual Property Related to Ocular Products Oxford BioMedica announced that it has entered a license agreement with the Research Development Foundation, the technology transfer entity for the Clayton Foundation for Research of Houston, Texas. [Oxford BioMedica Press Release] AstraZeneca and Dako Sign Agreement to Develop Companion Diagnostics for Cancer Treatments AstraZeneca and Dako Denmark A/S announced that they have entered into a collaboration agreement to develop companion diagnostic tests for multiple AstraZeneca oncology projects, including biologics and small molecules, in various stages of discovery and development. [Dako Press Release] $1.5 Billion in Public Money for Biotech Hasn't Paid Off Yet Florida taxpayers have spent more than $1.5 billion to turn the state into a biotech hub, but the payoff remains elusive, according to a new report by a legislative research group. [The Palm Beach Post] Scientific Breakthrough: Baltimore’s Bioparks Enjoy a Growth Spurt Here’s some good news for an industry that was short on highlights during the recession: Companies are taking more space in Baltimore’s two emerging biotechnology research centers; at least one firm is mulling a venture capital-backed funding round; and plans to expand the University of Maryland, Baltimore’s biopark are still on the table. [Baltimore Business Journal] Blood Institute is Building New Donor Center in Oklahoma City A $9 million blood donor center being built in Oklahoma City will improve medical care for many state stem cell patients and make way for new technology that can basically “scrub blood” free of bacteria and viruses. [Tulsa World] Indian Biotech Industry to Top $10 Billion by 2015 Positive triggers would propel India's biotech sector to become a ten billion dollars industry by 2015. [Hindustan Times] Can Miromatrix “Regenerate” Minnesota's Medical Industry? Miromatrix Inc. has one official employee, zero money, and nothing yet to develop, never mind sell. But make no mistake: Everyone wants a piece of it. [MedCity News]
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