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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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New York Ranked #1 Location For Biotech
Start spreading the news!!! New York Ranked #1 (pdf) location for Biotech!! The new findings were presented in the latest Battelle Technology Partnership Practice/SSTI report, prepared for the Biotechnology Industry Organization (BIO).
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Small Bone Innovations, Inc. Raises
$42 Million
Selected as winner of the annual "Red Herring 100 North America"
Small Bones Innovations (SBI), a New York City based orthopedic device company announced the largest ever venture capital funding in orthopedic history when it closed its Series B round of financing with a raise of $42.2 million. SBI was the first company to focus purely on the orthopedic care of arthritis and trauma in small bones and joints. SBI was founded by Viscogliosi Brothers, LLC (VB), a leading New York-based merchant banking firm specializing in the musculoskeletal/orthopedic sector.
Most recently, SBI was honored as one of the nation’s leading technology companies, having been selected a winner of the annual "Red Herring 100 North America" award by Red Herring magazine.
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ZIOPHARM Raises $37 Million
ZIOPHARM Announces Favorable Trial Results For Cancer Compound.
ZIOPHARM Oncology is a New York City based biopharmaceutical company engaged in the development and commercialization of cancer drugs to address unmet medical needs. The company recently announced positive anti-cancer activity during Phase I clinical trials. "The latest results with ZIO-101 continue to excite," commented Dr. Brian Schwartz, Chief Medical Officer at ZIOPHARM. "The opportunity to have potential choices for multiple approval pathways, based on growing evidence of clinical activity in a number of cancers is especially helpful."
In May, ZIOPHARM announced a private placement resulting in $37M. "With this financial milestone we are able to continue to develop efficiently our current, and newly identified, product candidates for better cancer therapies," said Jonathan Lewis, M.D., Ph.D., Chief Executive Officer. Proceeds from the financing continue to be used for the clinical development of the Company's two lead products, ZIO-101 and ZIO-201.
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IRX Therapeutics Raises $12.5 Million
New York City based IRX Therapeutics announced that it had raised $12.5 million through a convertible note offering. The privately-held company is dedicated to the development and commercialization of novel drugs for the treatment of cancer and viral diseases.
The new funding will be used to further develop cancer and viral disease products, including IRX-2 the Company’s lead cancer drug. The 12 year old company has raised more than $26 million in private financing.
"This is an exciting time at IRX Therapeutics as we look forward to completing the U.S. Phase II clinical trial and are preparing for a pivotal Phase III study of IRX-2," said John T. Spitznagel, Chairman of the Board of Directors. "This additional funding demonstrates the continued strong interest in our products and therapies and commitment from leading financial investors."
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TB Alliance Receives $104 Million
New York City based Global Alliance for TB Drug Development recently received $104 million from the Bill & Melinda Gates Foundation to advance a pipeline of new TB drugs over the next five years in the global pursuit to find a faster and more effective cure for tuberculosis. Since its formation in 2000, the TB Alliance has built the largest pipeline in history of potential critically needed new drugs for the treatment and cure of tuberculosis, a disease that kills someone every fifteen seconds.
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New York City to Host Spanish Bioscience Community November 8
On November 8th, NYCEDC will host the Bio Foro Conference, an event for Madrid-based bioscience companies, research centers, and bioscience associations. The event will provide the Spanish bioscience community the opportunity to learn about the benefits of basing their US operations in New York City and to explore the possibility of doing major projects here.
Included in the activities will be NYCEDC’s President, Joshua Sirefman, and Madrid’s Deputy Mayor for Economic Development, Miguel Angel Villanueva Gonzalez. Matt Wotitz of LabToWallStreet will moderate a panel of equity and intellectual property experts. The panel sessions will help prepare the Spanish bioscience firms for entry into the US market. Interest in New York by Spanish firms increased when Spain’s Cemusa won a $1 Billion contract with the City. For more information, email Bill Fair or call 212-312-3836.
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TeXchange - Find New Technologies Fast
The creators of LabToWallStreet are proud to announce the launch of TeXchange, a free and highly efficient method for professionals to locate new technologies. The mission of TeXchange is to facilitate interaction between member institutions and those seeking to license technologies. Bottom line: TeXchange allows users to search an entire database or individual member institutions by keyword to find the science they are seeking, fast.
If you are an academic or research institution interested in learning more about the TeXchange beta site, please visit http://texchange.labtowallstreet.com. If your institution would like to become a part of TeXchange, note the link to "Sign Up" on the TeXchange site and follow the instructions. Alternatively, send an email to with the subject line "TeXchange Registration".
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AMDeC Mouse House For New York
"Mouse House" will help reduce research costs and
attract scientific talent and federal research funds to New York.
AMDeC, a consortium of 35 medical schools, academic health centers and medical research organizations in New York State, announced that $10 million in State funding had been secured for construction of a Shared-Use Mouse Facility (pdf) to breed and house mice for medical research in the New York region. New York faces a shortage of mouse facility space at the same time that genetic research has shown that laboratory mice hold the key to understanding human genetics and biology. Adequate space to breed and maintain laboratory mice is essential in recruiting top-flight scientists and bringing major grant funding to New York State.
The Yonkers facility will be the first multi-institutional "mouse house" in the United States. By creating a facility that can be shared by many AMDeC-affiliated researchers, participating institutions will be able to reduce costs, attract and retain high-level scientists and gain federal research dollars to strengthen New York’s competitive position in basic science and medical research.
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Stock Option Plan - Set Up & Common Mistakes
The latest PreFlight Audio PowerTip outlines common issues regarding stock option plans. PreFlight PowerTips provides an "instant coach" to help tackle critical business issues.
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New York Bioscience Incentives
Just Released! New York State Tax Credits for High-Tech Companies (pdf) from NYSTAR. This new NYSTAR publication is designed to provide important information to the state’s fast-growing high technology industry. This summary lists the many state tax credits available to help biotech/tech firms to flourish in New York. Many credits can be combined to provide significant benefit to high growth and established companies.
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NYC NIH SBIR Funding Conference a Success
September 27th, 2006 - NYCEDC, with support from Industrial Technology Assistance Corporation (ITAC), conducted a workshop about the $2 Billion of federal R&D funding available to small tech firms. The Small Business Innovation Research (SBIR) lunch discussion was led by Jo Anne Goodnight, NIH SBIR Program Coordinator and Dr. Suzanne Fisher, NIH Director. One-on-one meetings with the NIH reps followed the event. Event sponsors, Fish & Richardson P.C. hosted the forum at their 52nd floor conference room in New York City.
Want more information about SBIR/STTR R&D funding? Read this LabToWallstreet article to learn from successful SBIR recipients.
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