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| OVERVIEW |
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New York City is emerging as the next leading center for commercial bioscience and the 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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NYC Metro Area is #1 In Bioscience Employment
According to a study by Battelle, the New York metro area has more bioscience employees than any other metro area. View the report (pdf) hosted on the
Biotechnology Industry Organization website.
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ZIOPHARM Oncology Raises An Additional $30 Million in 2007
On February 16, 2007, New York City based ZIOPHARM Oncology announced that it had entered into definitive agreements with institutional investors to raise an additional $30.9 million in gross proceeds. It was only a few months ago that ZIOPHARM successfully raised a $37 Million round.
Proceeds from the financing will be used primarily for ongoing clinical development of the Company's three lead products, ZIO-101, ZIO-201, and ZIO-301 currently in phase I and/or phase II trials. The Company anticipates completing phase II trials with ZIO-101 and ZIO-201 followed by initiation of pivotal studies. Funds will also be used to advance ZIO-301 into phase II trials, and for general corporate purposes.
ZIOPHARM Oncology, Inc. is a biopharmaceutical company engaged in the development and commercialization of cancer drugs to address unmet medical needs. "We are extremely pleased and appreciative to have received such strong support from a premier group of new and existing investors," commented Jonathan Lewis, M.D., Ph.D, Chief Executive Officer. |
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XTL Biopharmaceuticals Announces
In-Licensing of Bicifadine,
Raises $28 Million
NEW YORK City based XTL Pharmaceuticals recently announced an agreement with DOV Pharmaceuticals to in-license the worldwide rights for Bicifadine, a serotonin and norepinephrine reuptake inhibitor (SNRI). XTL intends to develop Bicifadine for the treatment of neuropathic pain - a chronic condition resulting from damage to peripheral nerves. The commencement of a phase 2b/3 study is expected soon.
Ron Bentsur, XTL's Chief Executive Officer, commented, "It is rare to come across an opportunity such as Bicifadine, a drug candidate that addresses a multi-billion dollar market, in a class with a proven mechanism of action, and with an established safety profile and clear evidence of activity in the treatment of pain."
XTL Biopharmaceuticals Ltd. is engaged in the acquisition, development and commercialization of therapeutics for —the treatment of neuropathic pain and hepatitis C. XTL is publicly traded on the NASDAQ, London, and Tel-Aviv Stock Exchanges. In March 2006, the company raised $28 million in a private equity transaction. |
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Danube Pharmaceuticals Raises $10 Million
New York City based Danube Pharmaceuticals completed a private placement of Series A Convertible Preferred Stock resulting in gross proceeds exceeding $10 million. The proceeds from the financing will be used to fund further development of the company's lead compound, DNB-001, a novel oral therapy for the treatment of glaucoma. Danube plans to initiate a multi-center Phase II clinical trial of DNB-001 in patients with elevated intra-ocular pressure (IOP) in the United Kingdom in late 2006.
Danube is currently developing an oral treatment for glaucoma, which is expected to enter a Phase II clinical trial in the United Kingdom. The company is also developing a topical formulation of DNB-001 as a follow-on product. |
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SIGA Technologies - $9 Million Private Placement
New York City based SIGA Technologies, Inc. (NASDAQ: SIGA) recently announced a $9 million private placement.
SIGA Technologies is applying viral and bacterial genomics and sophisticated computational modeling in the design and development of novel products for the prevention and treatment of serious infectious diseases, with an emphasis on products for biological warfare defense. SIGA believes that it is a leader in the development of pharmaceutical agents and vaccines to fight potential biowarfare pathogens.
Recently, SIGA announced the launch of a 21-day, escalating, multiple-dose, Phase 1 safety, tolerability and pharmacokinetics human trial of SIGA-246, its lead smallpox drug. |
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TB Alliance Receives An Additional
$11 Million
New York City based Global Alliance for TB Drug Development recently received $11.3 million from the government of Ireland. TB Alliance is advancing a pipeline of new TB drugs in the global pursuit to find a faster and more effective cure for tuberculosis.
This latest infusion of funding adds to the $104 million received by TB Alliance in early 2006 from the Bill & Melinda Gates Foundation. |
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Fovea Pharmaceutical Receives $25 Million Opens NYC Office To Pursue B Round Financing
Paris based Fovea Pharmaceuticals SA is a biopharmaceutical company focused on discovering, developing and commercializing innovative breakthrough drugs for the treatment of retinal diseases. Recently the company opened a New York City office in its efforts to build a world-class organization bringing together experts from around the world focused on breakthrough treatments of retinal diseases.
In November, the company announced the closing of a $25 million equity financing round. |
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New York City Declared "the safest big city"
According to a Crain's New York article in December, New York is the safest big city in the nation based on a preliminary crime report by the Federal Bureau of Investigation. |
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Grants Available For Companies To Exhibit At BIO 2007
As part of the NY LOVES BIO statewide campaign, the Bioscience Desk of NYCEDC will team with NY State's bioscience community to participate in the 2007 BIO International Conference. The BIO Conference is the world's largest gathering of biotechnology leaders to meet and exchange insights, business opportunities and more.
Your life science company can participate at BIO 2007 at greatly reduced costs by taking advantage of grants provided by New York State's Empire State Development Corporation. Companies can apply for a $2,000 discount on any of the available exhibiting packages for the NY Loves Bio Pavilion located in the 2007 BIO Conference. Apply early, as these grants are available on a first come, first served basis with only a limited amount available.
More at www.nylovesbio.com. To apply for a grant, download the NY Loves BIO Grant Application (pdf), or contact Brian McMahon (518 426 4058) at NYS Economic Development Council. |
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Robotic Surgical Tech of New York City
featured on The Learning Channel
Penelope, the world's first vision-guided, autonomous surgical robot, and Dr. Michael Treat were recently featured in the The Learning Channel documentary, "When Surgical Tools Get Left Behind." The program explored the problem of uncounted surgical instruments. Hear how Penelope could become a permanent fixture in every operating room by helping hospitals avoid this serious problem. Watch excerpts from the program on the Robotic Surgical website. |
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NYSTAR's Bioscience Funding Announcements
Subscribe to the NYSTAR Funding Opportunities Newsletter to keep informed of biotech R&D funding opportunities. |
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R&D Funding For NY's Bioscience Companies
SBIR/STTR program - learn more about the $2 billion available for biotech companies to fund research and development in this LabToWallstreet article. |
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