A review of life science current events reported by MedCity News this week.
21-year-old biotech leader: How I waged a tech transfer debate & won non-dilutive funding. One of Stem Cell Theranostic’s student founders, Divya Nag, became the founder and CEO of the healthcare-focused accelerator track StartX Med, which launched its first class this summer comprising 11 health IT, medical device and biotech companies. In an interview with MedCity News, she shared a few early lessons she’s learned about the business of healthcare.
5 things that have influenced pharmaceutical digital marketing expansion. Despite the lack of a comprehensive regulatory framework for direct-to-consumer social media marketing, adverse event monitoring and reporting, and fuzzy return on investment, a recent report from Cutting Edge Information found that digital marketing as a percentage of marketing mix rose to its highest level last year.
Medtronics’ China strategy involves a shopping spree. Are these firms targets? Last week, a Chinese publication quoted a Medtronic (NYSE:MDT) executive based in China as saying that M&A is a preferred route to augment the medical device company’s presence in the Asian nation. Apparently the Minnesota device maker already has some candidates in mind when it comes to mergers and acquisitions, but the targets “must have a common vision and business philosophy,” said Simon Li, president of Medtronic Greater China, to China Daily.
Capital woes continue in second quarter for life sciences sector. Both biotech and medical device venture funding took a hit. A total of 84 deals brought in $800 million for the medical device industry, but the numbers represent drops of 11 percent in deal volume and 17 percent in amount invested year over year. Biotech took a much bigger hit with a 52 percent decline in funding to $697 million and a 30 percent drop in number of deals to 90 deals in the second quarter.
‘Nanojackets’ for treating breast cancer could be game changer for cancer care. A novel nanotechnology drug delivery system under development to infiltrate breast cancer tumors could pave the way for treating other diseases. Penn State College of Medicine received a $1 million grant from a state research fund set up with money from its tobacco settlement to assess the drug treatment’s commercialization potential.