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Vivaldi Moves to NYC, Raises $23M |
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Originally incubated in San Francisco, CA, Vivaldi Biosciences has recently relocated its headquarters and operations to NYC. Vivaldi is an early-stage biotech company focused on the development of advanced vaccines for prevention of common seasonal influenza and emergent pandemic flu. The Company was formed to commercialize patented technologies developed over the course of a decade by Dr. Peter Palese and Dr. Adolfo-Garcia Sastre at the Mount Sinai School of Medicine. In January, the company moved toward closing a $23M round led by Bay City Capital LLC and NGN Capital LLC with participation by the New York City Investment Fund and Alexandria Real Estate Equities, Inc. |
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Pfizer to Buy Rival Drug Maker Wyeth for $68B |
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The world’s largest drug maker, NYC-based Pfizer, has agreed to acquire rival Wyeth to diversify its product portfolio. The combined company’s expected annual revenue is projected at $20B. |
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NYC Biotech VC Funding Up in 2008 |
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Despite the economic climate, NYC metro area tech firms reported an increase of 10% ($1.9B from last year) in VC funding with a total of 308 companies receiving cash infusions. During Q4, biotech and software firms received more than half of the investment dollars (53%) and the majority of the funding was invested in early stage firms (44%). In addition, New York area biotech companies received more total venture dollars in 2008 than in 2007, up 38% from last year. |
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New York Tops US Tech-Transfer |
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According to the latest survey released by The Association of University Technology Managers, New York University ranked #1 in technology-licensing income with $791M. Another NYC-based university, Columbia University, ranked #3 with $136M in income. |
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Intra-Cellular Therapies Announces Trial Success |
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NYC-based Intra-Cellular Therapies concluded successful Phase II clinical trials of ITI-007
for the use of sleep maintenance insomnia. Top-line efficacy results showed that ITI-007 is safe and well-tolerated in patients in reducing sleep disturbances. The data demonstrates the potential of ITI-007 to be useful in treating neuropsychiatric and neurological diseases. |
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Intellect Neurosciences, Inc. Grants Key License |
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Intellect Neurosciences granted a non-exclusive License to a major pharmaceutical company regarding treatments to combat the progression of Alzheimer’s disease and methods of treatment. Intellect Neurosciences has its US headquarters in NYC and is focused on the development of therapeutic agents for the treatment and prevention of Alzheimer’s disease. |
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SBIR Biotech Session Added to NYBA Annual Meeting |
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The 18th Annual New York Biotechnology Association Meeting is expected to draw CEO’s, senior executives, investors and prominent scientists from the biotech business communities in New York State and the national biotech arena. A special SBIR panel, featuring Jo Anne Goodnight, SBIR/STTR Program Coordinator at the National Institutes of Health, will highlight R&D funding opportunities for bioscience companies. For information about the panel or to arrange a meeting with event sponsor NYCEDC, please email Lenzie Harcum. A special rate is now available for early stage biotech companies. | |
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