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Biotechs Expand Their Financial Arsenal
Podcast: October 30, 2009

Though money is flowing more freely into the biotech sector these days, one consequence of the financial turmoil of recent years has been that it’s forced companies to think more broadly about their funding sources. At the same time, a greater emphasis on translational research and increased funding to the National Institutes of Health is creating greater opportunities for companies. We spoke to Ram May-Ron, vice president of the Boston-based FreeMind Group, which specializes in helping companies raise money from government agencies through grants and contracts, about the opportunities for life sciences companies to get government funding today, how such grants fit into a broader funding strategy and why he’s been disappointed in the stimulus package so far. Read More Here

Biotech Blooms at Lilly
Drug giant opens biotech facility in San Diego with nearly 200 Scientists focusing on cancer, diabetes, and autoimmune diseases.
Pharmaceutical giant Eli Lilly opened a new state-of-the-art biotechnology center in San Diego, part of an ongoing effort by the drugmaker to transform itself into a biotech titan. The move follows a relocation of its Imclone headquarters to a new biopharmaceutical research cluster in New York and construction of its biotechnology research and development complex at company headquarters in Indianapolis, Indiana a year ago. Read More Here

Lonza to Cut 450 Jobs
The weekly round-up of selected failed trials, missed targets and other business mishaps.
Basel, Switzerland-based Lonza Group said it would take steps to cut cost by as much as $79 million including the elimination of 450 jobs in response to unexpected events in the third quarter that included cancellation and delays in large-scale biopharmaceutical custom manufacturing that will hurt its operational earnings. Lonza warned of continued volatility in the company’s markets, which it said it expects to continue for the next few years. The news sent shares of Lonza down 18 percent. Read More Here

Seed Money
Fund seeks to invest in University of California discoveries. 
A newly launched $7.5 million fund will provide startup capital to University of California entrepreneurial researchers through a collaboration with The California Institute of Quantitative Biosciences to translate their discoveries into commercial products and biomedical therapies. Read More Here

Pound Foolish
Waste spending in the U.S. healthcare system pegged at $700 billion in report.
Administrative inefficiencies, medical errors, unnecessary treatments and fraud contribute to between $600 and $850 billion of wasteful spending within the U.S. healthcare system annually according to a new report by Thomson Reuters. The report, based on a review of published research and analyses of proprietary data, identifies the most significant drivers of wasteful spending. Read More Here

Matching Your Shade of Blue
Researchers hunt for genetic 'Prozac markers' to find a test for treating depression.
An antidepressant that works wonders for one depressed person, will do little for another. In some instances, it can even lead to bizarre hallucinations and fits of rage. Researchers at Tel Aviv University believe the answer to this quandary can be found in a patient's genes and are embarking on an effort to provide psychiatrists with a simple genetic test they say would revolutionize the treatment of depression. Read More Here

Clean Water, Clean Sex
WHO: Millions of premature deaths could be prevented by addressing a handful of factors.
Addressing problems of underweight children, unsafe sex, alcohol use, high blood pressure and the lack of safe water, sanitation and hygiene could increase global life expectancy by nearly five years, according to a new study from the World Health Organization. These five factors collectively are responsible for nearly a quarter of the 60 million deaths estimated to occur annually. In all, the report Global Health Risks identifies 24 environmental, behavioral and physiological factors ranging from air pollution to poor nutrition that are responsible for preventable deaths. Read More Here