$35M federal grant to build up drug development in OK
OKLAHOMA CITY, OK–The Oklahoma Biotech Innovation Cluster, a bio-tech, medical, and research coalition in Oklahoma City, is getting a $35 million federal Economic Development Administration grant as part of efforts to build up drug development and manufacturing on U.S. soil and cut reliance on overseas production. The grant will help unify the product development pipeline from translational research to testing and manufacturing while providing support to bolster the bioscience innovation ecosystem in the region.
Mayo Clinic et al join forces for a gene therapy accelerator
ROCHESTER, MN–Mayo Clinic, Hibiscus BioVentures, and Innoforce announced the launch of Mayflower BioVentures, a cell and gene therapy accelerator that will aim to advance new cures for serious and complex conditions through cell and gene therapies. Mayo Clinic will use any revenue it receives to support its nonprofit mission in patient care, education, and research.
$41.5M to develop oncology diagnostics platform
MADISON, WI–Elephas Biosciences Corp. has completed a $41.5 million Series B funding round. Elephas is developing an oncology diagnostics platform to predict response to immunotherapy. The platform uses live fragments from a patient biopsy and treats those fragments with potential therapies and combinations. The round was led by Chicago-based ARCH Venture Partners with continued investment by Madison-based WARF Ventures.
410 Medical receives $2M in military funding
DURHAM, NC–A company that makes a medical device for treating life-threatening low blood pressure, shock, and sepsis in critically ill patients has received nearly $2 million in U.S. military funding. 410 Medical will use the money to develop the next generation of its LifeFlow medical device, which received clearance for human use in 2016 from the U.S. Food and Drug Administration.