I started WhiteCityNews is to raise the awareness of what is happening in our community. Providing a voice, featuring the companies, researchers, entrepreneurs, investors and leaders who are propelling our community forward. WCN is a platform for our community to share your news, triumphs, and challenges. As well as promote your events, jobs and seek advice.
This will be a short posting this week, as I am currently taking break from cleaning up the lake that is my basement before the BBQ this afternoon. Thank you to everyone that came out to the Happy Hour last night.
Monday: We started off this week with our first AdvaMed 2014 company feature, ADM Diagnostics. ADM Diagnostics (ADMdx) is commercializing proprietary brain image analysis software to enable early, more accurate diagnosis of Alzheimer’s Disease and other brain disorders. By applying proprietary pattern recognition advances and a unique database of more than 6,000 brain images, we have been able to differentiate between various forms of dementia, predict rates of cognitive decline even in normal subjects, and detect drug effects on the brain. We are applying our technology in drug trials for pharma companies, and are developing software to aid in patient diagnosis in the clinical setting. Value for pharma is through earlier, more informed go/no-go decisions and in improved clinical trial success rates.
Tuesday: Jonathon Norris released a Healthcare Investment Trends Study. The study highlighted the growth of corporate venture capital and the positive impact it is having on early stage therapeutics companies. Medtech investment continues on its downward trend. The report also predicted:
- Healthcare fundraising will see continued stability.
- Venture investment into companies will slowly drop, then level off.
- Series A investments in biopharma will remain level.
- Investment will lag in Series A device, but corporate venture signals more active role.
- As the IPO market cools in second half of 2014, M&A activity will pick up.
- Acquirers will show continued strong interest in oncology and diagnostics.
Tuesday I also had the opportunity to head out to HTI and meet with the team at ProofX. Keep you eye out for a feature.
Wednesday: Jeff Aronin and Marathon Pharmaceuticals added Babar Ghias to the company as vice president of corporate development. Ghias is responsible for identifying and evaluating business development opportunities, deal structuring, financial strategy and managing Marathon’s capital structure.
Thursday: Great news on Thursday with Erik Kulstad and Advanced Cooling Therapy announced that they closed a $1.5 million Series A financing round to support the full commercial launch of its first product, the Esophageal Cooling Device (ECD) to control patient temperature.
Now back to the basement….