Posts Tagged 'life sciences'

CELLUMEN Finds Increased Predictivity for Human D.I.L.I. Through Rat Hepatocyte Panel

Cellumen, a discovery and early safety assessment company, today announced that its in vitro Rat Hepatocyte Early Safety Assessment Panel provides increased predictivity for human drug induced liver injury (DILI) equivalent to that of a recently published panel comprised of human hepatocytes.

The implications of this study have a significant impact on cost and throughput for in vitro human DILI predictive solutions.

As a result of these findings, less expensive, more reliable cells from a rat coupled with a 384-well assay format can result in reliable classification and risk-ranking of compounds for purposes of hit-to-lead prioritization and chemical class selection. In addition, the Cellumen in vitro rodent safety assessment panel provides robust dose- and time-dependent mechanistic profiles for each compound, allowing for de-risking compounds for specific mechanisms of toxicity.

The internal study, completed by Cellumen, focused on a set of 178 compounds spanning diverse chemical classes with published human DILI scores. Cellumen applied its proprietary Rat Hepatocyte Early Safety Assessment Panel consisting of freshly harvested hepatocytes, eight cellular features, three time points, and a 10 point dose response. The panel was analyzed on a high-content imaging platform and a classifier constructed to predict human DILI scores. Using this optimized Rodent Hepatocyte Panel, Cellumen achieved 100 percent specificity with nearly 50 percent sensitivity.

“We were excited by these findings, since we did not expect the concordance of human-to-human and rat-to-human DILI predictivity to be so strong,” says Don Taylor, Vice President of Corporate Development for Cellumen. “However, since Cellumen measured molecular mechanisms common to both species, these results may not be as surprising as initially thought.”

The results indicate that its in vitro Rat Hepatocyte Early Safety Assessment Panel can offer Cellumen customers higher throughput and lower cost solutions for human DILI predictivity than other options currently available.

BIOSAFE Launches Specially Treated Facemask Effective Against H1N1 Flu and Other Bad Guys

With flu season upon us and the outbreak of H1N1 causing a stir worldwide (So when did they stop calling it the Swine Flu?), a Pittsburgh-based company is deploying its antimicrobial product to treat facemasks.

BIOSAFE, Inc., a company that manufactures and sells a novel antimicrobial polymer, is launching a facemask treated with BIOSAFE in specific markets outside the United States.

Crosstex’ new BIOSAFE-treated Ultra Sensitive facemasks begin to reduce microorganisms such as MRSA, VRE, and Staph immediately upon contact, and have further proven to be effective against Influenza A strains such as seasonal flu and the novel H1N1 virus.

Gary Steinberg, CEO of Crosstex, stated, “Facemasks serve as the first line of defense against airborne particles by trapping them in the filter media.  However, live microorganisms can continue to live on the mask surface.  Our new BIOSAFE treated Ultra Sensitive facemasks enhance the functionality of the mask by actually killing the harmful microorganisms, reducing the cross-contamination risk from touching the mask itself, and creating a safer environment upon disposal of the mask.  The BIOSAFE treatment additive, as approved by the EPA, was compatible with our manufacturing process. We were attracted to the product since it chemically binds to the outer mask surface creating a long-lasting shield against microbial contamination and, because BIOSAFE mechanically kills cells, therefore will not cause development of more resistant ‘superbugs’.”

Max Fedor, President and CEO of BIOSAFE declared, “In the simplest terms, BIOSAFE’s HM4100 is better, faster, and less costly as an antimicrobial additive. It provides protection for the life of the product and because of the way it works it does not promote adaptive organisms or ‘superbugs’.  Our product’s safety is unparalleled and it has passed all required toxicity tests and received an EPA label.  It has also passed USP / ISO biocompatibility tests that are normally required for medical device materials.”

ClearCount Closes $3.4M Series B Funding Round

Local life sciences companies have been on a complete capital raising rampage lately. ClearCount is joining the fold as it locked down another $3.4 million.

ClearCount is bringing to market the SmartSponge System, the only system to use both counting and detection for the prevention of left behind surgical sponges. A tiny RFID chip (about the size of a penny) in the sponges allows them to be easily tracked – counted before they go into the patient, then reconciled at surgery’s close.

And as the Centers for Medicare & Medicaid (CMS) recently announced that it will no longer cover the costs of 27 “Never” events, such as sponges left behind after surgery, hospitals are now adopting new technology that will not only prevent these medical errors, but that will also improve efficiencies.

Get all of the details right here.

Cognition Therapeutics Closes Series-A Financing

It’s nice to wrap up the week with some positive news from a local life science/tech company. Especially when it involves closing a financing round in a tough economy. So check this out:

Cognition Therapeutics Inc., a Pittsburgh-based drug discovery company developing small molecule disease-modifying treatments for Alzheimer’s, has closed on a $1.21M Series A financing.  The round was led by Ogden CAP, LLC of New York City and includes M5Invest Partners of Villanova, PA, the Pittsburgh Life Sciences Greenhouse, Innovation Works (Pittsburgh), and several individual investors. The round included both new investments and the conversion of existing convertible notes.

“This investment facilitates the advancement of our existing lead molecules towards a major milestone,” said Cognition Therapeutics President and CEO Hank Safferstein, Ph.D., J.D.  “Our combination of novel, small molecule drug candidates and biologically-relevant screening methods is unique in the pharmaceutical industry. We’re pleased to have Ogden CAP and M5Invest join our other investors in supporting our pioneering approach to treat or prevent Alzheimer’s disease by targeting the proteins that cause the earliest stages of this disease”.

Funds raised in this round will support advancement of Cognition Therapeutics’ pioneering lead molecules that block the activity of the toxic oligomeric form of Abeta protein that interferes with normal learning and memory. 

Studies from the world’s leading academic laboratories indicate that the memory deficits caused by the oligomeric protein are among the earliest changes seen in Alzheimer’s disease and Mild Cognitive Impairment, the precursor to Alzheimer’s. These studies indicate that blocking the effects of this protein may halt or reverse Alzheimer’s disease.  Cognition will use these funds to test its most promising lead molecules in behavioral models of Alzheimer’s disease.

Morgan Lewis Launches “Entrepreneur Resources Headquarters”

The foks at Morgan Lewis & Bockius want to assist entrepreneurs as they develop their business.  So, the firm has created an Entrepreneur Resource Headquarters of its web site.

According to the firm, the site is designed to provide its emerging business clients with information regarding the legal and business challenges confronting them. It also provides tools to help them take advantage of opportunities as they grow—from start-up to global expansion to preparation for liquidity.  Mmm…liquidity.

The site contains articles and presentations by Morgan Lewis attorneys and covers topics such as financing a company, board development, intellectual property, regulatory compliance, and many others.  Topics are labeled as having Technology or Life Sciences focus. The site also has links to clients web sites and will also feature venture capital news.  The Resource Headquarters will be frequently updated with the latest Morgan Lewis information on entrepreneurial issues.

It’s pretty interesting and useful stuff. Be sure to bookmark it. Even if you’re not an entrepreneur.

ReGear Closes Series A Funding Deal!

regearReGear Life Sciences, makers of the ReBound™ Therapeutic Warming System, a revolutionary form of radio-frequency (RF) diathermy, closed a $2.5M Series A financing round following a $1M investment by Stonewood Capital Management, Inc.

“Given the current condition of the financial markets and the economy we are fortunate to have been able to attract such a great group of angel investors and close out the round with an investor as respected as Stonewood,” said James (Chip) Hanlon, ReGear’s President and CEO.  “Participation by such a group of sophisticated investors is a testament to the potential of our products, the strength of our target markets and the abilities of our team.” 

ReGear received its early financial backing from the Pittsburgh Life Sciences Greenhouse and Innovation Works, opened the A round in July of 2008, and began realizing revenue late in the fourth quarter of 2008.

The funds will be used to drive growth and further expansion into the global sports medicine, physical medicine, rehabilitation, and chiropractic markets, and develop products for the home care markets.  ReBound is rapidly gaining acceptance and is currently under evaluation by many major professional sports, physical therapy and rehabilitation organizations. ReBound is also being distributed by Game Ready, an industry leader in cold and compression products through a strategic alliance.

“We are delighted to be an investor in ReGear,” said Stonewood Managing Director John Tippins, who has joined ReGear’s board of directors.  ”The market for pain management products is growing every day due to the aging of the baby boomers.  ReGear’s diathermy technology has shown great promise in relieving pain and improving quality of life and the company is perfectly positioned to provide future therapeutic products into its target markets.”

ReBound is a compact, portable, and simple-to-use therapeutic warming system that utilizes patented ReGear Diathermy™ technology. ReBound can be used to treat virtually any condition for which thermotherapy is indicated, including muscle spasms, joint contractures and pain associated with a variety of conditions such as osteoarthritis, soft tissue injuries, back disorders and more.  No other method of thermotherapy targets deep tissue or provides sustained therapeutic warming over a broad targeted region as effectively as ReBound.

Free SBIR Workshops Planned for Life Sciences Companies

Small Business Innovation Research grants are an excellent way for tech companies to develop and fund their technology. The Pittsburgh Life Sciences Greenhouse (PLSG) and Innovation Partnership have teamed to bring two free  statewide SBIR Advance workshops to life sciences companies. Applications are due March 20 for the April 21 & 22 workshops. The workshops will be held at the PLSG.

SBIR Advance is an in-depth program covering all aspects necessary for writing winning grants to the federal government, specifically focused on, but not limited to the NIH. The program is designed to provide qualified life sciences entrepreneurs and early-stage research and development companies with:

- Grant application strategy development

- Proposal writing assistance

- One-on-one consultation and access to SBIR experts

Each workshop will include:

- An overview of the Federal SBIR program

- Tools and references to research specific application types

- Requirements to follow during proposal preparation and post-award guidelines

- Principal investigator requirements and company eligibility

- The internal agencies’ review process

- Each section of the SBIR proposal application in detail, including all forms

- Phase II product development plan preparation

- Basic accounting practices to follow when working with governmental entities (as well as establishing indirect rates and job costing techniques)

Immediately following the SBIR Advance workshop the entrepreneurs will have an opportunity to meet one-on-one with the SBIR consultants to answer any company-specific questions and immediately begin working on grant strategy relevant to their company’s stage of development.

Workshops are FREE to eligible participants. All training materials and meals are included. Space is limited to life sciences companies.

Questions & Applications:
Contact Uwe Winzen, uwinzen@plsg.com, 412-770-1647

Renal Solutions Success Story

We’re a little late on this announcement, but it is an important success story of Pittsburgh…

Renal Solutions Inc.’s (RSI) acquisition by Fresenius Medical Care is a huge success story for the western Pennsylvania life sciences community. Fresenius agreed to pay up to $190 million for RSI, over a period of three years, and assume approximately $10 million of RSI’s debt. Pete DeComo, RSI’s CEO, led the effort to position RSI and negotiated the transaction with Fresenius. RSI is now a wholly owned subsidiary of Fresenius, the largest integrated global provider of dialysis products and services, and Pete continues to lead RSI’s operations. Renal Solutions is the innovator in the field of sorbent dialysis therapy.

Renal Solutions Success Story

Rivers Club
Thursday, September 11, 2008
7:45 a.m. (Breakfast) – 9:30 a.m.

Register Here

Company: Renal Solutions Inc. Renal Solutions Inc.
Web Site: www.renalsolutionsinc.com
Location: Warrendale, PA 15086
Description: Renal Solutions, Inc., is an integrated medical device and service company dedicated to transforming the kidney dialysis therapy model for patients affected by chronic kidney disease through the design of innovative sorbent-based hemodialysis systems. Read more.