InterValve, a medical device company in Minnetonka, Minnesota, is looking to close its series A round of funding soon in order to advance its proprietary aortic valvuloplasty balloon to clinical trials later this year. CEO Mark Ungs said the company hopes to begin testing its transcatheter aortic valve device in humans this year and submit […]
Biolyst LLC is seeking $1.25 million from the sale of equity and warrants, according to documents filed with the Securities and Exchange Commission.
Canada has a proud history of achievement in the areas of science and technology, and the field of biomanufacturing and life sciences is no exception.
After surveying the chaos otherwise known as Fall elections, I can confidently conclude one thing: I don't think Democrat gubernatorial candidate Mark Dayton is scoring a lot of votes from the business community, especially the important lifescience industry. So that leaves GOP nominee Tom Emmer and Independence Party favorite Tom Horner vying for lifescience votes.
It's been a tough slog for early stage capital, lately. Affinity Capital Management and Triathlon Medical Ventures have suspended efforts to raise a $10 million seed fund in Minnesota. And the $1 billion fund biotech investor Steve Burill promised to raise for the Elk Run BioBusiness Park two years ago has yet to materialize. But there is some good news: the Minnesota Department of Employment and Economic Development has awarded $573,000 in tax credits during the first full month of the state's shiny new angel investment tax program.
Forget "One Life to Live" or "As the World Turns." If you want a real soap opera, look no farther than the University of Minnesota. One week after MedCity News first reported that University Enterprise Laboratories (UEL) and the school's medical device fellowship program were close to a deal to establish MDC Launch Pad, an incubator for companies created by the fellows, the university's top technology transfer official is opposing the project.
Minnesota’s angel tax credit program debuted last week, which means you can now regularly check who made the cut. Go to the state Department of Employment and Economic Development’s (DEED) angel website, scroll down to the bottom of page and click on the links under “Lists of Certified Businesses, Investors and Funds.” Investors (individuals or […]
One of the more intriguing races in Minnesota this fall concerns state District 40B in Bloomington, outside of the Twin Cities. There, Republican newbie Sanu Patel-Zellinger is challenging longtime Democrat incumbent Rep. Ann Lenczewski. Patel-Zellinger is unlikely to unseat Lenczewski- you don’t get re-elected five straight times without knowing what you’re doing. But Patel-Zellinger’s campaign […]
Come August 1, Minnesota’s shiny, new $60 million angel tax credit will be open for business. Now if only Wall Street cooperated. Fueled by fears of an European debt meltdown, the Dow Jones Industrial Average Tuesday dropped more than 250 points to below 10,000 before recovering to close at 10,043. The index is down more […]
Battle-weary proponents of Minnesota’s historic $60 million angel tax credit had a simple message for the state’s entrepreneurial community: Now that we passed the darn thing, you better use it! “We’ve passed the baton onto you,” Sen. Kathy Saltzman (D-Woodbury) told the audience who gathered in Eden Prairie Monday to learn about the tax credit. […]
The Minnesota House and Senate Monday overwhelmingly approved a five-year, $50 million tax credit designed to spur early-stage investment in high tech start-ups, including biotechnology and medical devices. Minutes after the House passed a jobs bill, which included the angel credits, 112-20, the Senate followed suit, 58-3. The lopsided vote capped an epic, seven-year struggle […]
A specialty drug is a class of prescription medications used to treat complex, chronic or rare medical conditions. Although this classification was originally intended to define the treatment of rare, also termed “orphan” diseases, affecting fewer than 200,000 people in the US, more recently, specialty drugs have emerged as the cornerstone of treatment for chronic and complex diseases such as cancer, autoimmune conditions, diabetes, hepatitis C, and HIV/AIDS.
Passing an angel investment tax credit in Minnesota is not important just for the dollar amount but to signal to investors in the Midwest, and indeed the rest of the country, that our state is a serious place to do business; that we are ready to embrace (finally) a commonly accepted way to spur investment […]
Another day, another new local early stage fund. Upwind Medical Partners is launching a $6 million to $8 million early stage fund that will focus on commercializing intellectual property from health care/research institutions like the University of Minnesota, Wisconsin Alumni Research Fund (WARF), Allina Hospitals & Clinics, and John Hopkins Hospital in Baltimore. Founded by […]
Ativa marks the debut of TCA-II, the group's second investment fund, which hopes to distribute an estimated $2.5 million to 15 companies over the next two years.
Rep. Ann Lenczewski's opposition to angel credits flies in the face of evidence, experts, and the collective political and business will of Minnesota.
