News Article | April 27, 2017
RESEARCH TRIANGLE PARK, NC--(Marketwired - April 27, 2017) - The majority (82%) of surveyed drug manufacturers reported conducting -- or planning to conduct -- observational studies last year, which has become more common, according to a study by business intelligence research company Cutting Edge Information. The data published in Post-marketing Study Excellence: Design Phase 4 Trials to Demonstrate Real-World Outcomes show that from 2014 to 2016, the frequency of surveyed firms conducting observational studies remained relative flat -- only a slight decrease from 84% to 82%. Compared to interventional trials, Phase 4 observational studies require less human and spending resources. Observational studies are those in which investigators are not required to influence or impact study participants. Instead, investigators look for the natural relationships between factors impacting the study population and specific outcomes. Observational trials allow pharmaceutical companies to gather valuable, descriptive real-world data. Companies use these post-marketing studies to gather information related to product usage patterns, cost-effectiveness and long-term effectiveness. "Because these trials don't have the complex elements related to traditional clinical trials or interventional studies, post-marketing teams can focus less time on investigator training," said Natalie DeMasi, research team leader at Cutting Edge Information. "Life science firms find observational studies particularly accessible compared to more involved experimental studies because the training timeline is shorter." Observational studies can look to both prospective and retrospective data to inform findings. Even prospective studies, which follow patients through a predetermined period of time, can call on retrospective data. In fact, the majority (60%) of surveyed life science companies used or included retrospective data in their Phase 4 observational studies. Despite their advantages, observational trials have drawbacks. Real-world data collected in observational studies have higher external validity but will probably not yield data with the internal validity that interventional studies have. Additionally, observational studies can be more complicated in terms of protocols and statistical analyses. Life science teams must weigh all these different considerations carefully when planning their post-marketing studies. Post-marketing Study Excellence: Design Phase 4 Trials to Demonstrate Real-World Outcomes, available at https://cuttingedgeinfo.com/product/phase-4-clinical-trials/, provides strategic insights and key performance metrics on post-marketing research ownership, spending and staffing levels, as well as trend analysis. Data are broken down for interventional and observational studies and the report outlines the effectiveness of study outcomes due to early planning. Report highlights include: To learn more about Cutting Edge Information and post-marketing study management, please download the brochure at: https://cuttingedgeinfo.com/preview/phase-four-clinical-trials/.
News Article | November 1, 2016
IRVINE, Calif., Nov. 1, 2016 /PRNewswire/ -- THIRD QUARTER 2016 AND RECENT HIGHLIGHTS -- EPS and FFO per share were $0.32 and $0.65, respectively; FFO as adjusted was $0.72 per share -- Completed spin-off of Quality Care Properties, Inc. ("QCP") (NYSE...
News Article | November 14, 2016
BOCA RATON, FL--(Marketwired - November 14, 2016) - Noble Life Science Partners, a division of Noble Financial Capital Markets (Noble) announced today that Nathan Cali, formerly Noble's specialty pharmaceuticals senior analyst, has moved to its investment banking department. The move was timed to coincide with Noble's Investor Conference -- NobleCon13 to be held at the Boca Raton Resort & Club, January 30-31, 2017. Life science companies represent a significant portion of the presenting company roster at the conference. The sector is so important to Noble that it moved the date of the 2017 NobleCon back by two weeks in order to avoid a conflict with the JP Morgan Healthcare Conference set for early January in San Francisco. Mr Cali joined Noble in 2008 after gaining experience at Andrx Pharmaceuticals and Franklin Templeton. "As a senior analyst at Noble, Nathan has exhibited a "nose" for finding compelling investment ideas and themes for investors," said Noble's CEO Nico P. Pronk. A good example is a company that was recently acquired -- Cynapsus Therapeutics, Inc. for $624 million USD. In 2013, when the company's market capitalization was only $13.9 million, Noble was the first to initiate equity research coverage. Since that time, Cali has published 30 Cynapsus research reports and the company has attended two NobleCon Conferences. Noble has also supported the company's growth in investor awareness through three rounds of financing totaling in excess of $100 million USD, and through numerous non-deal road shows targeting fundamental science-driven institutional investors. Cynapsus is not the only company that has shown substantial growth. For example, Cali initiated coverage of TherapeuticsMD in 2013 when its market capitalization was $200 million, today it hovers around $1.0 billion; Axogen has grown from $28 million since initiation of research coverage in 2012 to over $280 million today. Cali also was early in identifying opportunities in the Hepatitis C space; Pharmasset's market cap was $173 million when he initiated -- the company was purchased a few years later by Gilead for $11 billion, and; Inhibitex was acquired by Bristol Myers Squibb for $2.5 billion and had a market capitalization in 2009 of $13 million when Noble initiated coverage. Cali was also instrumental in the creation (co-founder) of Variant Pharmaceuticals; a private early-stage life sciences company that will be entering into Phase 1 studies on the path to the commercialization of products designed to treat rare progressive forms of kidney disease. Noble believes that Mr. Cali's strong analytical healthcare background will provide great value to corporations in need of financing and strategic advice, and will further enhance our investment banking capabilities in the Noble Life Science Partners division. About Noble Financial Capital Markets Noble Financial Capital Markets established in 1984, is an equity-research driven, full-service, investment & merchant banking boutique focused on the healthcare, media & entertainment, technology and natural resources sectors. The company has offices in Boca Raton (HQ), New York and Boston. In addition to the annual multi-sector NobleCon, each year Noble hosts numerous "non-deal" corporate road shows and sector-specific conferences such as the Media, Finance & Investor Conference offered in partnership with the National Association of Broadcasters (NAB).
News Article | February 15, 2017
Life science companies can now confidently meet industry regulatory and quality demands with assistance from powerful new compliance consultancy ARCexperts SALT LAKE CITY, UT--(Marketwired - Feb 14, 2017) - Achieving and maintaining FDA approval can be a tough challenge for life science companies. Especially for small to mid-size organizations that can't always support the internal personnel required to manage the vast array of compliance and quality demands placed on regulated companies. With the launch of ARCexperts, these companies have an opportunity to receive world-class audit, risk, and compliance consulting from a team of compliance experts that each brings more than 15 years of experience and most are recognized industry key opinion leaders (KOLs). Their services are designed to streamline the quality and compliance process for small to mid-size pharmaceutical, medical device, biotech and related life science industry companies. From securing proper product submissions, to launch and commercialization support, to audits, to assistance in building a healthy and validated quality management system (QMS) -- ARCexperts offers powerful and trusted advisors and services. "The regulatory and quality system requirements that all life science organizations face increases every year and the requirements themselves continue to evolve and change," said ARCexperts CEO and Founding Partner Walt Murray. "ARCexperts helps these companies in assessing their current state, providing roadmap recommendations to secure approved product and technology submissions, regulatory body compliance and the team support to help maintain a validated QMS. These are the 'must-haves' of operating as a regulated company. With our assistance, these companies can operate confidently knowing these requirements and processes are manageable and maintained." "Our global customers depend on us to ensure that they can go to market efficiently with their products or services, knowing that they are not going to be surprised by receiving notices from any regulatory body that their operation and goods are not compliant," said ARCexperts COO and Managing Partner Leslie Norris. "ARCexperts helps regulated organizations by sharing the process of performing the audits, QMS development, standards and submission requirements, along with staff training in order to maintain a risk mitigated environment." About ARCexperts ARCexperts is an industry leading regulatory compliance and quality systems consulting firm that provides in-depth services to small and mid-size organizations in the pharmaceutical, medical device, biotech and related life science industries. Their consultants are globally recognized KOLs that frequently speak and present at global conferences. Their services are offered on either a by-project basis or as an on-going service providing Quality and Compliance as a Service (QCaS). For additional information on ARCexperts, call 1.801.878.9945, email firstname.lastname@example.org, email@example.com or visit www.arcexperts.com.
News Article | March 1, 2017
Receive press releases from IQ4I Research & Consultancy Pvt. Ltd.: By Email IQ4I Research & Consultancy Published a New Report on "Life Science Instruments and Reagents Global Market Forecast to 2023" The report covers all life instruments and associated reagents used in pharmaceuticals, biotechnology and diagnostics that help cutting edge research and innovative application. These technologies include from basic to advanced technologies, this report does not include medical devices or in-vitro diagnostics market; however the usage of instruments and reagents for diagnostic purpose is included in the market. Boston, MA, March 01, 2017 --( According to IQ4I analysis, the Life science instruments and reagents global market is expected to grow at high single digit to reach $81,325 million by 2023. The major factors driving the lifescience instruments and reagents market include increased focus on R&D expenditure and growth of biotechnology and pharmaceutical industries, technological advancements in analytical devices, growth in funding for research, rising demand of analytical instruments with growing research activities in proteomics, lucrative growth opportunities in emerging markets and increasing demand from various industries. Factors such as high cost of instruments, dearth of skilled professionals and stringent regulations are hampering the market growth. The report covers all life instruments and associated reagents used in pharmaceuticals, biotechnology and diagnostics that help cutting edge research and innovative application. These technologies include from basic to advanced technologies including spectrometry, chromatography, microscopy, PCR, flow cytometry, laboratory centrifuges, electrophoresis, NGS, biochips, automated liquid handling and robotics, cell counters, laboratory freezers and others. Among the technologies, spectrometry held the highest share and expected to grow at a mid single digit by 2023 due to their applications across all the disciplines of life science industry. Among the technologies, NGS is the fastest growing segment with mid double digit growth rate. Life science instruments and reagents global market by end users, pharmaceutical and biotechnology companies held the largest share and expected to grow at high single digit by 2023. Increasing demand for accurate and precise data for drug discovery and development has increased demand for spectrometry, chromatography, microscopy, PCR, flow cytometry, NGS and other life science instruments. Hospitals and diagnostic centers are fastest growing segment among end users with mid double digit growth rate. Some of the key players such as Agilent Technologies (U.S.), BD and Company (U.S.), Bio-Rad Laboratories (U.S.) Bruker Corporation (U.S.), Danaher Corporation (U.S.), Illumina, Inc. (U.S.), Merck KGaA (Germany), Perkinelemer, Inc. (U.S.), Roche Holdings (Switzerland), Shimadzu Corporation (Japan), Thermo Fisher Scientific, Inc. (U.S.) and Waters Corporation (U.S.). Some of the other players in the life science and instruments market include Qiagen N.V. (Netherlands), Abbott (U.S.), GE Healthcare (U.K.), Olympus (Japan), Nikon (Japan) , Tecan (Japan), Hitachi High-Tech (Japan), Biomeriex (France), Fluidigm (U.S.), Luminex (U.S.), Hamilton (U.S.), Pacific Biosciences (U.S.) Boston, MA, March 01, 2017 --( PR.com )-- Technological advancements in life science research across the globe has introduced a variety of techniques which are used by researchers for various applications including drug discovery and development, manufacturing, clinical diagnostics, basic research in genomic, proteomics, transcriptomics, metabolomics to cater the ever-growing needs of biotechnology and pharmaceutical, scientific equipments, life science research and services and diagnostics. Life Science instruments and reagents market comprises of technologies including Spectrometry, Chromatography, Microscopy, PCR, Flow Cytometry, Laboratory centrifuges, Electrophoresis, NGS, Biochips, Automated liquid handling and robotics, Cell Counters, Laboratory freezer and Others.According to IQ4I analysis, the Life science instruments and reagents global market is expected to grow at high single digit to reach $81,325 million by 2023. The major factors driving the lifescience instruments and reagents market include increased focus on R&D expenditure and growth of biotechnology and pharmaceutical industries, technological advancements in analytical devices, growth in funding for research, rising demand of analytical instruments with growing research activities in proteomics, lucrative growth opportunities in emerging markets and increasing demand from various industries. Factors such as high cost of instruments, dearth of skilled professionals and stringent regulations are hampering the market growth.The report covers all life instruments and associated reagents used in pharmaceuticals, biotechnology and diagnostics that help cutting edge research and innovative application. These technologies include from basic to advanced technologies including spectrometry, chromatography, microscopy, PCR, flow cytometry, laboratory centrifuges, electrophoresis, NGS, biochips, automated liquid handling and robotics, cell counters, laboratory freezers and others. Among the technologies, spectrometry held the highest share and expected to grow at a mid single digit by 2023 due to their applications across all the disciplines of life science industry. Among the technologies, NGS is the fastest growing segment with mid double digit growth rate.Life science instruments and reagents global market by end users, pharmaceutical and biotechnology companies held the largest share and expected to grow at high single digit by 2023. Increasing demand for accurate and precise data for drug discovery and development has increased demand for spectrometry, chromatography, microscopy, PCR, flow cytometry, NGS and other life science instruments. Hospitals and diagnostic centers are fastest growing segment among end users with mid double digit growth rate.Some of the key players such as Agilent Technologies (U.S.), BD and Company (U.S.), Bio-Rad Laboratories (U.S.) Bruker Corporation (U.S.), Danaher Corporation (U.S.), Illumina, Inc. (U.S.), Merck KGaA (Germany), Perkinelemer, Inc. (U.S.), Roche Holdings (Switzerland), Shimadzu Corporation (Japan), Thermo Fisher Scientific, Inc. (U.S.) and Waters Corporation (U.S.).Some of the other players in the life science and instruments market include Qiagen N.V. (Netherlands), Abbott (U.S.), GE Healthcare (U.K.), Olympus (Japan), Nikon (Japan) , Tecan (Japan), Hitachi High-Tech (Japan), Biomeriex (France), Fluidigm (U.S.), Luminex (U.S.), Hamilton (U.S.), Pacific Biosciences (U.S.) Click here to view the list of recent Press Releases from IQ4I Research & Consultancy Pvt. Ltd.
News Article | November 1, 2016
Disruptive Software Startup Guides Researchers in Selecting Life Science Products for Experimentation with Objective, Peer-Reviewed Rating System -- an Industry-First PALO ALTO, CA--(Marketwired - Nov 1, 2016) - Bioz, Inc., developers of the world's first search engine for life science experimentation, today announced the release of its latest Bioz Stars technology. Bioz Stars is a fully objective product rating system that accelerates scientific discovery. "Researchers have been asking for an easier eCommerce purchasing process for laboratory products that would provide simple, evidence-supported comparison between competing brands and products," stated Frost & Sullivan Senior Life Science Industry Analyst Christi Bird. "The Bioz Stars platform fills that void, serving as an ideal starting place for laboratories to research products." Bioz' proprietary, multi-parameter algorithmic rating system is based on over a billion data points that have been extracted from tens of millions of peer-reviewed scientific articles using advanced Natural Language Processing (NLP) and Machine Learning (ML) technologies. The algorithm's parameters are weighted and normalized. The new Bioz Stars technology further enhances the industry's first and only unbiased rating system that is already in use by scientists around the world to help them quickly identify the best reagents, instruments, equipment and consumables for their experiments. The Bioz platform incorporates Bioz Star ratings to help guide researchers towards making the best, most well informed and transparent decisions possible, ensuring that their future experiments are better, quicker and more cost-effective. "The volume of reagents, consumables, equipment and instruments available for purchase is daunting," said Dr. Shai Saroussi, postdoctoral researcher at the Carnegie Institution at Stanford University. "With so many product options on the market from countless vendors, choosing the product that will work best in an experiment is painstaking. Once I started using the Bioz search engine, my research was transformed. Moreover, the integrated Bioz Stars product ratings are unbiased and based on millions of previously published peer-reviewed life science articles, allowing me to quickly and efficiently identify the best products for my experiments, helping me to conduct better, faster and more cost-effective research." Life science researchers in academia and biopharma spend $80 billion annually to purchase millions of products for their experiments -- from reagents to consumables to instruments and equipment. Many products, antibodies being a key example, have extremely high failure rates, leading to research delays and stalled drug discovery. Prior to Bioz Stars, there was not an easy way for researchers to either anticipate poorly performing and incompatible products, or to compare and select the best products to use in their specific assays and experiments. The new Bioz Stars technology release, available to users today, incorporates both new and enhanced rating parameters, including, but not limited to, the following: "The new features incorporated into our game-changing Bioz Stars rating system allow for unprecedented insights for life science researchers around the world who are planning their experiments," said Dr. Karin Lachmi, co-founder and chief scientific officer of Bioz. "At Bioz, we are continually looking for ways to improve the quality of scientific experimentation and ultimately speed up drug discovery and finding cures for diseases. Technology such as this, that helps scientists compare products for experimentation, was sorely lacking during my time as a researcher at Stanford University. We strive to have the Bioz Stars ratings technology align itself as closely as possible with how researchers actually think when deciding which products to use in their experiments." The Bioz platform and Bioz Stars are available free to researchers and scientists. Visit www.bioz.com, and start using Bioz today to find the best products for your experiments. Suggested Tweet: .@BiozPage announces the new Bioz Stars, the world's first unbiased algorithmic rating system for life science products http://bit.ly/2f6LAeF About Bioz, Inc. Bioz, Inc. offers the world's first search engine for life science experimentation. The patent-pending software platform combines the work of scientists with advanced Natural Language Processing (NLP) and Machine Learning (ML) to help life scientists in academia and biopharma make faster and smarter experimentation decisions, ultimately speeding up drug discovery and increasing the rate of success in finding cures for diseases. Founded in 2013 by Stanford research scientist, Karin Lachmi, Ph.D., and CEO Daniel Levitt, Bioz is a StartX accelerator company. Bioz is used by 60,000 researchers from over 5,000 universities and companies in 175 countries. Try Bioz at www.bioz.com.
News Article | December 2, 2016
Life Science Plastic Bottles Market analysis is provided for global market including development trends by regions, competitive analysis of the Life Science Plastic Bottles market. Life Science Plastic Bottles Industry report focuses on the major drivers and restraints for the key players. Life science plastic bottles are used in life science technology, hospital, and pharmaceutical industry. Life science plastic bottles are generally made of polystyrene (PS), Polyethylene (PE), Polycarbonate (PC), Polypropylene (PP), and PETG etc. Life Science Plastic Bottles market analysis report speaks about the manufacturing process. The process is analysed thoroughly with respect four points Manufacturers, regional analysis, Segment by Type and Segment by Applications and the actual process of whole Life Science Plastic Bottles industry. And many more This report focuses on the Life Science Plastic Bottles in Global market, especially in North America, Europe and Asia-Pacific, South America, Middle East and Africa. This report categorizes the market based on manufacturers, regions, type and application. Market Segment by Applications, can be divided into Have Any Query? Ask Our Expert for Life Science Plastic Bottles Market Report @ http://www.marketreportsworld.com/enquiry/pre-order-enquiry/10292480 Chapter 8: South America, Middle East and Africa Life Science Plastic Bottles Sales, Revenue and Market Share by Countries Market Reports World is the credible source for gaining the market research reports that will exponentially accelerate your business. We are among the leading report resellers in the business world committed towards optimizing your business. The reports we provide are based on a research that covers a magnitude of factors such as technological evolution, economic shifts and a detailed study of market segments.
News Article | April 13, 2016
PAREXEL enhances its Regulatory Cloud; leverages EMC® Documentum® for Life Sciences software solution suite to offer an end-to-end regulatory solution LONDON, 13th April, 2016 - PAREXEL International Corporation (NASDAQ: PRXL), a leading global biopharmaceutical services organisation, and EMC Corporation (NYSE: EMC) today announced they have entered into an alliance to offer an end-to-end Regulatory Information Management (RIM) and Regulatory Content Management solution. By combining PAREXEL® LIQUENT InSight® Regulatory Information Management platform and EMC® Documentum® for Life Sciences software solution suite, PAREXEL now provides life sciences companies with a complete solution for a product’s entire regulatory lifespan. Life science companies can utilise the solution for strategy and planning, authoring, publishing, submitting, viewing, archiving, and lifecycle management for a product. The offering is available through PAREXEL’s Regulatory Cloud, a life sciences content and regulatory information management solution structured within a dedicated, private cloud environment. “A life sciences company must navigate the complex, global and region-specific regulatory landscape to maintain registration and compliance for a product,” said Paul Bidez, Ph.D., Vice President and Global Head of Regulatory Solutions, PAREXEL. “To help solve this challenge for our clients, PAREXEL and EMC brought together our respective industry-leading regulatory information management platform and industry-leading life sciences content management solution suite within PAREXEL’s Regulatory Cloud.” PAREXEL’s Regulatory Cloud utilizes identity-based security that ensures that only authorised users can gain access to the infrastructure and application resources they require. Applications can be configured or integrated to meet client-specific requirements. The EMC Documentum for Life Sciences software solution suite can eliminate companies’ data silos to transform how organisations access, manage and share information across nonclinical, clinical, quality and regulatory groups, ensuring a single, authoritative source for regulated content. The fully-integrated suite leverages industry standards and utilises easily configurable, intuitive, and personalised interfaces to maximise productivity and ensure easy access to information. This helps to bring high-quality and safer drugs to market faster, improving health and well-being, while lowering costs. “Industry pressures are prompting biopharmaceutical organisations to adopt new business models, enter new global markets, and expand alliances and partnerships. To achieve these goals, Life Sciences organisations are becoming more strategic in how they manage information,” said Rohit Ghai, President, Enterprise Content Division, EMC. “By partnering with PAREXEL, we’re enabling these organisations to digitally transform and deliver high-quality, safer drugs to market faster and at a lower cost, while meeting regulatory requirements.” Regulatory Cloud is offered by PAREXEL directly or through the Company's Perceptive® Partner Program. About LIQUENT InSight Since the market introduction of LIQUENT InSight in 2004, 16 of the top 20 pharmaceutical companies have selected the LIQUENT InSight platform as their authoritative source of regulatory information. PAREXEL’s RIM technologies can also be coupled with comprehensive professional services from PAREXEL, which provides a full complement of Regulatory Outsourcing Services to help companies meet the demands of today’s complex and changing regulatory environment. About EMC Documentum for Life Sciences software solution suite Over 75% of leading life sciences firms rely on EMC Documentum. Our tightly integrated solutions deliver standardized business processes that simplify access to content. The EMC Documentum for Life Sciences software solution suite delivers proactive, automated, business rules and enhancements across the suite while ensuring a simple, user experience to reduce risk, streamline processes and boost worker productivity. Organizations can create a single authoritative source for regulated content, seamlessly link and share content across departments (or divisions) and provide proactive notifications to document authors, owners and users when document changes take place or actions and tasks are required. The suite includes: EMC Documentum Electronic Trial Master File, EMC Documentum Research and Development, EMC Documentum Submission Store and View, and EMC Documentum Quality and Manufacturing. About EMC EMC Corporation is a global leader in enabling businesses and service providers to transform their operations and deliver IT as a service. Fundamental to this transformation is cloud computing. Through innovative products and services, EMC accelerates the journey to cloud computing, helping IT departments to store, manage, protect and analyze their most valuable asset — information — in a more agile, trusted and cost-efficient way. Additional information about EMC can be found at http://www.emc.com/. EMC and Documentum are registered trademarks or trademarks of EMC Corporation in the United States and other countries. All other trademarks used herein are the property of their respective owners. About PAREXEL International PAREXEL International Corporation is a leading global biopharmaceutical services organization, providing a broad range of expertise-based contract research, consulting, medical communications, and technology solutions and services to the worldwide pharmaceutical, biotechnology and medical device industries. Committed to providing solutions that expedite time-to-market and peak-market penetration, PAREXEL has developed significant expertise across the development and commercialization continuum, from drug development and regulatory consulting to clinical pharmacology, clinical trials management, medical education and reimbursement. PAREXEL Informatics provides advanced technology solutions, including medical imaging, to facilitate the clinical development process. Headquartered near Boston, Massachusetts, PAREXEL has offices in 77 locations in 51 countries around the world and had approximately 18,200 employees in the second quarter. For more information about PAREXEL International, visit www.PAREXEL.com. PAREXEL is a registered trademark of PAREXEL International Corporation. All other trademarks are the property of their respective owners. This release contains “forward-looking” statements regarding future results and events. For this purpose, any statements contained herein that are not statements of historical fact may be deemed forward-looking statements. Without limiting the foregoing, the words “believes,” “anticipates,” “plans,” “expects,” “intends,” “appears,” “estimates,” “projects,” “will,” “would,” “could,” “should,” “targets,” and similar expressions are also intended to identify forward-looking statements. The forward-looking statements in this release involve a number of risks and uncertainties. Such factors and others are discussed in the section entitled “Risk Factors” of the Company’s most recent Annual Report on Form 10-K and subsequent quarterly reports on Form 10-Q as filed with the Securities and Exchange Commission, which “Risk Factors” discussion is incorporated by reference in this press release. The Company specifically disclaims any obligation to update these forward-looking statements in the future. These forward-looking statements should not be relied upon as representing the Company’s estimates or views as of any date subsequent to the date of this press release.
News Article | November 23, 2016
Idea Foundry, a Pittsburgh-based economic development organization, is one of 27 organizations in the nation to be selected to receive the prestigious i6 Challenge grant through the Economic Development Administration’s (EDA) Regional Innovation Strategies (RIS) Program. The award, in partnership with the University of Pittsburgh, will go towards a cooperative effort to advance life science innovations in the region and will allow Idea Foundry to continue to drive life science innovations at the academic level and promote entrepreneurial achievement that benefits the region at large. “The RIS program advances innovation and capacity-building activities in regions across the country by addressing two essential core components that entrepreneurs need to take their ideas to market: programmatic support and access to capital,” said Secretary of Commerce Penny Pritzker. “As America’s Innovation Agency, the Commerce Department has a key role to play in supporting the visionaries and job creators of tomorrow,” said Secretary Pritzker as she congratulated the awardees. “We’re honored to receive this generous grant from the EDA and excited to strengthen our ongoing relationship with the University of Pittsburgh and the Innovation Institute. Both organizations have a shared vision of cultivating and inspiring a community of academic innovators who will fuel the creation of startups and help preserve our regional strengths. This award provides us with the means to build on our joint initiatives to achieve a significant impact,” said Nehal Bhojak, Director of Innovation at Idea Foundry. Idea Foundry and the University of Pittsburgh have a long-standing relationship and have been working towards a common goal of fostering a regional leadership position in the life sciences sector. Over the years, the two organizations have successfully created and refined a systemic approach to accelerate the commercialization of life science innovations originating from the University. “This partnership with Idea Foundry began in 2010 with support from the City of Pittsburgh and it has been an integral part of our life sciences commercialization strategy. The ability to expand this successful partnership with support from the Department of Commerce will allow even more high quality life sciences companies to get started and grow in the region,” said Marc Malandro, Founding Director of the University of Pittsburgh Innovation Institute and the Vice Chancellor for Technology Management and Commercialization at the University of Pittsburgh. These efforts between the University and Idea Foundry have resulted in the formation of companies such as Qrono, a computational drug development platform, and Peptilogics, which is developing next generation antimicrobial peptide technology. These companies have successfully transitioned out of the academic domain and gone on to attract attention at the national and international level. “Idea Foundry has not only helped Qrono in developing and growing our business, they were a key driver in formation of the company. They recognized the opportunity and brought the right people and pieces together to create the company that we have today. Simply put, Qrono exists today because of Idea Foundry,” said Larry Zana, CEO of Qrono. “I took full advantage of the continuum of assistance and advice offered by Pitt and Idea Foundry, from courses at the University, through Idea Foundry's Life Sciences Accelerator Program and ultimately as part of their investment portfolio. Idea Foundry played a crucial role in identifying the need to focus, and their advice and guidance was critical to my development from a scientist to an entrepreneur,” added Jonathan Steckbeck, Co-founder and CEO of Peptilogics Inc. The i6 Challenge award will enable Idea Foundry to create additional success stories and strengthen efforts to promote innovation and entrepreneurship within the University and in the region. Idea Foundry will work with Pitt and its innovators through all stages of the innovation life cycle and help build sustainable life science-focused ventures that have far-reaching impact. “Life science and healthcare innovation have deep roots in the Pittsburgh region and led the way out of the industrial decline of the 1980s and provided growth and stability to the region’s economy through more recent challenges. This funding might provide the pathway for the next great innovation in life sciences to launch,” signed off Mike Matesic, President & CEO, Idea Foundry.
News Article | December 3, 2016
This article has been sponsored by Propel(x)*. After years of living in biopharma’s shadow, the cleantech sector is showing encouraging signs of life. New cleantech startups are popping up, and angel investors are again interested in investing in the promise of clean energy. According to the Propel(x) Survey of Angels, more than half reported that they are interested in the sector. That’s a far cry from the early 2000s, when cleantech was avoided by the investment community. Still, whether biopharma or cleantech, promising new ideas can take years to grow into viable offerings — not to mention large amounts of capital for conducting research, building infrastructure, and establishing distribution networks. That’s where cleantech could benefit by borrowing a few pages from the biopharma playbook. While both biopharma and cleantech are focused on discovery and innovation, biopharma companies have been more successful in getting to market due partly to the fact that they have a natural organizing framework thanks to — of all things — the Food and Drug Administration’s (FDA) regulatory framework with which they must comply. Regulation has provided a data-driven map with specific milestones that has helped guide their development, funding, and go-to-market strategies. And while the same organizing framework doesn’t exist for cleantech, here are five lessons that cleantech entrepreneurs and investors can learn from their successful life science counterparts. Many bioscience companies adopt a virtual organization model, and there is no reason why cleantech can’t do the same. Smart biopharma companies have outsourced every non-core activity — from clinical research to regulatory strategy and accounting. As a result, they stay laser-focused on innovating — a strategy investors tend to find very appealing. In the life science sector, new types of organizations have emerged to fill startup needs. You no longer need your own research facilities or labs because there exist accelerators that provide lab facilities, clinical research organizations that run experiments, and so on. Cleantech companies would do well to adopt as many pieces of that “virtual” model as possible. For example, cleantech companies might look for outsourced partners to conduct repetitive testing or experiments while they themselves remain focused on only innovation — that is what they are good at, that is their raison d’etre. What’s a new company without relationships? Alone and vulnerable. Biopharma companies start talking to strategic partners early on in their development cycle — even before seed funding. They look for partnerships in research, distribution, and also start early conversations for potential exits. Similarly, cleantech startups should be building relationships with corporate partners that can assist in testing, jointly developing specific components, introducing early customers (or being the early customer), taking on the distribution burden, or becoming a strategic investor. Often, entrepreneurs try to protect their intellectual property from strategic partners. But that desire should be balanced with the equally important need to demonstrate a market. Startups perceive a corporate strategic investment as a double edged sword — they fear that if they take a strategic investment, they may be held hostage by the corporate investor. In the new age, corporates are very aware of this perception and are eager to accommodate startups. New corporate investment or accelerator programs are often “no strings attached” (i.e. no rights of first refusal, no exclusivity, no IP rights). The Open Innovations Program at Schneider Electric is a great example. Joint development programs are similarly flexible. Therefore, startups should start a conversation with corporates early. Finally, startups should look for a distribution partner early. Corporates are best set up for sales and marketing with large sales and distribution organizations and marketing muscle. Startups are best set up for innovating quickly. Therefore, startups should focus on innovation; let the corporates take on the sales, marketing, and distribution. Today, startups have more avenues to reach potential strategic partners, including incubators, their university’s innovation and technology transfer efforts, and online investment platforms. For example, Propel(x) has built a strategic council made up of industry leaders who provide mentorship, help build key customer relationships, and invest in startups fundraising on Propel(x). Another thing that life science companies have done very well is tapping angel investors to raise large rounds. Life science companies routinely raise millions of dollars from angels alone. This debunks the myth that you need a lead VC investor to anchor your investment rounds. A notable example is Smart Cells, which was acquired by Merck for ~$400 million, and who raised almost exclusively angel funding before being acquired. One reason angel funding is so helpful is that you don’t need to wait around for a “lead.” You can get angel investors to invest small amounts in convertible notes or equity fairly quickly. The first few investors are the hardest to persuade. However, as you get rolling, it’s much easier to fill in the last fraction of the round. Historically, energy and cleantech have both gone the venture route. Since VCs are still reeling from poor outcomes in cleantech in the early 2000s, that route is a difficult one for energy/cleantech companies. So why not explore alternative routes? There are many companies nowadays that are raising from angels. One example is Seatrec, which is currently fundraising on Propel(x). Seatrec aims to harness small temperature differences to generate energy — a breakthrough technology by all standards and, at this stage, probably a bit early for VCs. Angels are a great alternative. Another particularly successful example is Axiom Exergy, which has raised funds from angels and micro VCs. One important lesson cleantech startups can learn from life sciences companies is the value of an early exit. This can be difficult for a cleantech entrepreneur to hear, as they often have their sights on creating the next Tesla Motors. While incredibly admirable, that can turn into a very long, winding, and expensive road, which can be off-putting to an early investor. The sooner the exit, the more attractive the opportunity. In contrast, life science companies still want to change the world, but aren’t burdened by needing to create the biggest sales and marketing organizations on their own. Once they gain FDA approval, they often sell that innovation to larger companies that are in business to acquire innovation and sell widely via their sales & marketing machines. Of course, biotech firms are fortunate to have huge pharmaceutical companies waiting in the wings to buy up smaller firms. That’s not as simple on the cleantech front where attractive exits in the current climate can be hard to come by. Life sciences companies also benefit from having the obvious inflection point of FDA approval. Once a new drug or device gets the greenlight from the FDA, many are fine with letting someone else taking that new innovation to market. For cleantech, there is no standard, industry-wide inflection point. But if you’ve developed a prototype, tested it, and demonstrated market demand, start looking for an exit sooner than later. Exits can take time to fully mature. Why? Because it takes time to build relationships. Just remember that acquirers are out there. Start early and take the time to find the right acquirer that’s a good fit for the company. Biopharma companies have also innovated around access to capital, including accessing the public markets at various stages in their development. Cleantech companies should do the same for the simple reason that you often need large amounts of capital to take your product to market. Exploring the public markets doesn’t mean going public at any price, but by not exploring the public markets, you’re not pursuing all of your options. Take Juno Therapeutics, a company focused on re-engaging the body’s immune system to cure cancer. It successfully went public after its stage 1 trial with an IPO valuation at about $1.65 billion, soaring to $2.4 billion by end of their first trading day. It didn’t yet have full FDA approval at the time, but it was still able to successfully tap the public markets based on early results and an inspiring story. Companies like Juno Therapeutics — whose market cap today is $3.7 billion — demonstrate that there’s no reason to wait for a multi-billion-dollar valuation. Begin exploring ways to access the public markets as soon as you have proof of concept. Of course, once you go public, you fall under SEC regulation, but the fact remains that certain growth stages require large alternative sources of capital. Try to remain open to exploring the public markets. So, again, it’s an exciting time to be exploring the cleantech sector. The framework that has been so valuable to biotech can be effectively applied to cleantech — which will provide the necessary markers to help investors more easily evaluate cleantech opportunities and more readily invest in this crucial sector. To explore cleantech companies currently fundraising on Propel(x), click here. About the Author: Swati Chaturvedi is the founder and CEO of Propel(x), an online investment platform that brings together investors, startups, and experts to support and invest in breakthrough technologies. Prior to starting Propel(x), Swati worked in management consulting and investing. Most recently, Swati worked at Exigen Capital on IT Telecom, Travel, and BPO deals. Before this, she sourced and evaluated deals in the Industrial Automation sector with Siemens Venture Capital. Swati is also the co-founder and coordinator of the MIT Alumni Angel Investors group. Swati has an MBA from the Sloan School of Management, an M.S. from MIT (Technology and Policy Program) and an M.S. from UC Berkeley (Civil Engineering). She holds a Bachelor’s degree in Architecture from the Indian Institute of Technology. *As always, CleanTechnica wouldn’t run a sponsored post unless we thought it was a high-quality article that would be useful for our subscribers to read. 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