| Today's Top Story |  |  | | - Small business program makes room for VC-owned startups
New rules going into effect set aside 25% of Small Business Innovation Research funds from NIH, the National Science Foundation and the Department of Energy, as well as 15% of funds from other agencies, for businesses that are majority-owned by multiple venture capital firms, hedge funds or private equity funds. The rules also spell out requirements for ownership by investor firms and non-U.S. citizens. The SBIR grants "now will be an aggressively competitive program that fulfills federal research and development goals of bringing breakthrough public health discoveries to the public," BIO said of the changes. Genetic Engineering & Biotechnology News (1/24)       | Health Care & Policy | | | | - Biotech startup expert: Do as I say, not as I did
Strategies that worked when neuroscientist Corey Goodman cofounded Exelixis and Renovis will not work for today's life sciences entrepreneurs, says Goodman, who recently cofounded venture capital firm venBio. Startups should aim not for an IPO but for acquisition by a larger pharmaceutical or biotechnology company, Goodman says. VenBio's corporate partners contribute both funds and insight into what kinds of companies they might eventually acquire. Xconomy/San Francisco (1/23) - Baxter acquires worldwide rights to hemophilia A drug candidate
Inspiration Biopharmaceuticals and its lead investor, Ipsen, have sold to Baxter International the worldwide rights to OBI-1, a recombinant porcine factor VIII under development for congenital and acquired hemophilia A. Inspiration will receive $50 million in cash and as much as $135 million in milestone fees plus tiered net sales payments. Baxter also purchased Ipsen's Milford, Mass., plant that produces OBI-1. Genetic Engineering & Biotechnology News (1/24) - Biogen's experimental MS drug performs well in late-stage trial
Biogen Idec's injectable multiple sclerosis treatment Peg-Avonex, or peginterferon beta-1a, met the goals of a Phase III trial by reducing patients' relapse rate by 36% when given every two weeks and by 28% on four-week schedule compared with placebo. The drug was also safe and well-tolerated. Biogen plans to submit the drug for approval in the U.S. and Europe this year. Bloomberg Businessweek (1/24), Reuters (1/24) - Scientists gain deeper understanding of proteomics
Scientists working on the Chromosome-centric Human Proteome Project report steady progress in the effort to map all the proteins produced by genes on human chromosomes. Reports in the Journal of Proteome Research include the identification of 54 proteins on Chromosome 4 associated with cancer; a proteome map of Chromosome 8, which has a high mutation rate and could be related to tumor genesis; and new data integration and analysis software for researchers working on the project. The Scientist online/The Nutshell blog (1/24) | Company & Financial News | | | | | Food & Agriculture | | | | | Industrial & Environmental | | | | - Novozymes exec tips cellulosic ethanol to transform business
Enzyme developer Novozymes could get up to 90% of its revenue from sales to the biofuel market by 2030 if more countries embrace renewable energy, said incoming CEO Peder Holk Nielsen. The firm gets about 16% of its revenue from biofuel producers and less than 1% from cellulosic ethanol producers, Nielsen said. "If the world really wants to secure a significant part of its liquid-fuel consumption based on biomass, this would totally transform the enzyme business," he said. Bloomberg Businessweek (1/24) | News from BIO | | | | - BIOtechNOW
BIOtechNOW is the first in a number of new products from BIO intended to enhance our communications with the biotech community -- not only with our members, but with other stakeholders as well. This e-newsletter, combined with its website, serves as our flagship in that effort. BIOtechNOW will offer original content that emphasizes the business needs of the industry; highlight BIO's advocacy efforts; and provide a portal to all BIO activities and events. Most importantly, it will spotlight for those outside the industry the value of biotechnology. Sign up for the e-newsletter.
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