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| OVERVIEW |
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NYC Bioscience Bulletin provides the latest news and information on the thriving bioscience cluster in New York City. This month's issue highlights news and activities of key NYC biopharmaceutical companies.
New York City is quickly emerging as a leading center of commercial bioscience. To further this growth, New York City Economic Development Corporation (NYCEDC) is connecting bioscience businesses with the resources that only New York City has to offer. Visit www.nycbiotech.com or contact us for more information on how NYCEDC can assist your business. |
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| IN THE NEWS |
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Intercept Pharmaceuticals Raises $25M
NYC-based Intercept Pharmaceuticals, Inc., a clinical-stage biopharmaceutical company developing therapeutics for the treatment of chronic fibrotic and metabolic diseases, announced the completion of a $25 million equity financing by Genextra S.p.A. Intercept has raised $50 million since its founding.
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Acquisition Creates Epic Pharma as NYC’s Newest Contract Biomanufacturer
NYC-based EPIC Pharma has acquired the former Sandoz Pharmaceuticals facility in Queens, NY to become a privately owned US-FDA approved contract biomanufacturer. With close to 200 employees, the operation will continue to manufacture for Sandoz and develop products under the Epic label.
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ViroPharma to Acquire Lev Pharmaceuticals – Deal Valued Up to $617.5M
As another example of how NYC is a prime location for growing bioscience companies, ViroPharma Inc. has announced it will purchase NYC-based Lev Pharmaceuticals to expand its pipeline with Cinryze, a drug candidate for hereditary angioedema. ViroPharma is expected to pay $442.9 million, plus an additional $174.6 million if the treatment meets certain regulatory and commercial milestones. An FDA panel has recommended approval for the medication.
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$70M Available in Federal R&D Funding
Small and medium sized bioscience companies can take advantage of NIST’s Technology Innovation Program (TIP). TIP is the successor to the former NIST ATP and targets high-risk, high-reward research and development proposals. Single company projects can receive up to $3M and Joint Ventures (university partnerships allowed) may be funded up to $9M. Applications are due September 9th, 2008. More information is available through the NIST website.
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Get on the NYC Bioscience Map
The New York City Bioscience Initiative website features an interactive map with information on the 125 bioscience companies located in New York City. To add your company and profile to the map, please email Joseph Fonte of the NYCEDC Bioscience Team. |
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