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| OVERVIEW |
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New York City is home to a thriving bioscience cluster and is quickly emerging as the center of commercial bioscience. To further this growth, New York City Economic Development Corporation (NYCEDC) is connecting bioscience businesses with the resources to thrive. Visit www.nycbiotech.org or contact us for more information on how NYCEDC can assist your business. |
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| NEWSFLASH |
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Weill Cornell Receives Record Federal Grant
Weill Cornell Medical College has been selected by the NIH to establish and lead a new Clinical and Translational Science Center (CTSC), creating a network for biomedical collaboration on New York's East Side Medical Science Corridor. The $49 million award is the largest ever to a medical college and is part of a $574 million NIH fund to expand a national consortium to transform clinical and translational research. To learn more, view the Weill Cornell News Release.
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IRX Therapeutics Raises $12.5 Million
New York City based IRX Therapeutics recently announced it has raised an additional $12.5 million through a convertible note offering. The new funding will be used to further develop cancer and viral disease products, including IRX-2, the company’s lead cancer drug which seeks to activate a patient’s own immunity to fight disease. |
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Immtech Pharmaceuticals Raises $6.1 Million
Immtech Pharmaceuticals, Inc., a New York City based company focused on developing and commercializing drugs to treat and prevent infectious diseases, announced earlier this year it raised $6.1 million after entering into agreements with institutional investors in a registered direct offering.
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Keryx Biopharmaceuticals Announces Positive Phase I & Phase II Data
New York City based Keryx Biopharmaceuticals, Inc. recently announced positive Phase I and Phase II data for a compound that addresses relapsed/refractory multiple myeloma and Waldenstrom's macroglobulinemia.
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Noven Pharmaceuticals Acquires JDS
Noven Pharmaceuticals Inc. announced in July that it has agreed to acquire New York City based JDS Pharmaceuticals, a manufacturer of drugs for bipolar disorder, depression and panic disorder. In 2004, JDS raised over $60 million in a round led by AIG Healthcare Partners, L.P. and Galen Partners, LP.
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