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| California’s Bold Move and What it Means for Us |
Assessing Pennsylvania’s Position in the Biosciences
By Fritz Bittenbender, president of Pennsylvania Bio
November 2nd marked a huge vote of confidence for the biosciences—voters in California approved Proposition 71, the California Stem Cell Research and Cures Initiative. Through this initiative, California will sell $3 billion in bonds, which will fuel an investment of $300 million a year for 10 years in stem cell and regenerative medicine research. Proposition 71 was put to popular vote and was passed by nearly 60% of the people—in a tough budget climate and in a year that saw a record turnout at the polls. Californians seem to understand the promise this industry holds for the future of healthcare globally and for their state’s economic future.
While this is a great event for the development of this science, since the vote, questions have been raised continually as to what this means for other states. It is clear that California is taking an aggressive stance to maintain its position as a global research center. The end result is to find new cures and provide the base for future growth in the industry, creating new jobs and new tax revenues for California.
While other states have rushed out of the gate with proposals in response to California, we must remember that Pennsylvania already has made a $2.3 billion commitment to the growth of the biosciences, the second largest commitment in the country next to California’s recent investment. But we must ensure this current commitment is working to keep our researchers and companies in Pennsylvania. Read more >> |
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Inside The Industry
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| GlaxoSmithKline (GSK) Reviews Novel Therapeutics for CNS Disorders and Confirms Strong Pipeline Momentum
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| Morphotek Inc. and SC BioSciences Announce a Business Collaboration for the Marketing of Morphotek’s Proprietary Cell Linen Evolution Services in Japan
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Aventis and U.S. Department of Health and Human Services Enter into Third Pandemic Influenza Vaccine Agreement
− World's Largest Influenza Vaccine Producer Plays Leading Global Role In Influenza Pandemic Planning −
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| Study Identifies Molecular Complex Vital to Creation of miRNAs: Possible Links to DiGeorge Syndrome, Schizophrenia Also Seen
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| Yaupon Therapeutics Initiates Clinical Trials for First Agent to Treat Epidemic of Methamphetamine Addiction
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Regional News
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| Fox Chase Cancer Center Presents $1 Billion Expansion Plan to Fairmount Park Commission
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Rendell Administration Announces Certification Of 5 New Keystone Innovation Zones
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Funding Focus
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FEATURE ARTICLE
The Janney Pennsylvania Bio Index
Stephen Hurley, managing director and head of healthcare investment banking at Janney Montgomery Scott LLC
Janney’s Pennsylvania Bio Index decreased by 2.1% over the past thirty days and is showing an even larger, 14.5% decrease for the year to date. Merck’s recent recall of Vioxx has substantially dragged down the index for the year to date, with the $61 billion company seeing a decline of 40% in share price. Excluding Merck, the index would have shown only a 7.0% decrease in the year to date, and a 0.7% increase over the last 30 days.
Read the full article >> |
| PA Early Stage III Announces Final Close at $86 Million; Close of Third Fund Brings Total under Management to $237.5 Million
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University of Pittsburgh Researchers Receive $1 Million in Grants from Department of Defense Breast Cancer Research Program
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Government Watch
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Pennsylvania Business Tax Reform Commission Releases Final Report: Recommends Cutting State’s Corporate Net Income Tax to 6.99 Percent
Pennsylvania Bio will closely review to assess the impact on the biosciences industry
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Profiled Member
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 ProSanos Corporation
www.prosanos.com
ProSanos provides services and products that transform health-related data into knowledge that helps advance patient safety, improve drug lifecycle management, and enhance quality of care. ProSanos clients are in sectors including pharmaceuticals, biotechnology, health care, research, and government; current clients include Hoffman-La Roche, Enzon Pharmaceuticals, and Maxim Pharmaceuticals.
The company specializes in the creation, management, and analysis of patient observational studies—for example, disease registries, clinical databases, and outcomes measures. Observational studies deal with real-world patient situations, such as simultaneous multiple illnesses and overlapping medications, as opposed to the controlled world of clinical trials.
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Read more about ProSanos Corporation |
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Job Watch
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Adsumo, a company focused on careers and recruiting in the life sciences, will partner with the Biotechnology Industry Organization (BIO), to produce the BIO 2005 Career Fair. The BIO Career Fair is an important and popular element of BIO’s Annual International Convention that attracts over 16,000 attendees each year. Now in its 7th year, the Career Fair traditionally draws over 55 hiring organizations, and upwards of 3,000 job seekers.
Pennsylvania Bio will provide updates on the career fair in this column leading up to BIO 2005.
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Events
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Save the Date: Pennsylvania Bio 2005 Annual Dinner
Wednesday, January 26, 2005
The Franklin Institute
Details coming soon. |
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CAMN Forum (Lehigh University Center for Advanced Materials and Nanotechnology)
March 1-2, 2005
Rauch Business Center, Lehigh University, Bethlehem, PA
Symposium and Facility Tours. For more information contact Virginia Newhard at 610-758-3851. |
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