Company News

Serpin Pharma, a clinical-stage biotech company developing first in class drugs to treat human diseases caused by inflammation, reported data from its Phase 1b/2a clinical trial. The results, published in the Journal of Cardiovascular Pharmacology, report the effects of a single subcutaneous administration of SERPIN drug (SP16), a synthetic, selective LRP1 agonist, in ten patients …

​The Department of Economic Development and the City of Virginia Beach have recently signed two Memoranda of Understanding (MOUs) with Biomedical & Life Sciences clusters during a recent marketing mission to Spain. These bilateral agreements will create and encourage collaboration between the four signatory parties and favor the generation of ideas that will in turn …

Rivus Pharmaceuticals Inc., a clinical-stage biopharmaceutical company dedicated to improving cardio-metabolic health,  announced the completion of a $132 million Series B financing led by RA Capital Management with participation from Bain Capital Life Sciences, BB Biotech AG and existing investors Longitude Capital, Medicxi and RxCapital. This financing will further support clinical advancement of lead candidate …

HemoShear Therapeutics, Inc., a privately held clinical stage biotechnology company, has earned a milestone payment for the advancement of potential lead product candidates against a second target for the treatment of gout under its collaboration with Horizon Therapeutics plc (Nasdaq: HZNP). This milestone marks the fifth payment that HemoShear has earned in accordance with the …

Kaléo, a privately held commercial-stage U.S. pharmaceutical company, announced the execution of the first contract with the U.S. Department of Defense (DoD) for the procurement of the Rapid Opioid Countermeasure System (ROCS), a 10 mg Naloxone Auto-injector (naloxone hydrochloride injection) antidote for ultra-potent weaponized opioids. The contract includes an award for the manufacture and delivery …

Embody, Inc., a privately-held medical device company focused on soft tissue healing, announced that it closed a $10.4 million Series C funding round led by Genesis Innovation Group’s cultivate(MD) Capital Funds LP. The financing will enable Embody to expand its world-class operations, post-market clinical studies of the recently launched Tapestry RC System for rotator cuff …

Bonumose, Inc. – an enzyme technology company with solutions for sugar reduction and other globally critical industries – is pleased to announce the following appointments. Dr. Andrew Fordyce has accepted a key advisory role with Bonumose. Dr. Fordyce most recently was Executive Vice President and Food & Beverage Divisional Head for Novozymes, a global leader …

CHARLOTTESVILLE, Va., /PRNewswire/ — AMPEL BioSolutions today announced a breakthrough in precision and personalized medicine that can detect and predict the severity of COVID-19 in patients while also determining the best treatment options for each specific case. The company’s new approach, through a simple blood test, will ultimately accelerate the means of providing effective treatments to the right …

La Vista, Nebraska – Streck announced today a Series B investment in Ceres Nanosciences (Ceres). The funds from this investment will be used to accelerate the development and commercialization of both diagnostic and research use products utilizing Ceres’ Nanotrap® technology platform.​ “Streck has a deep presence in and knowledge of the diagnostics industry and shares …

The Manassas, Virginia SaaS company is making it easier for remote patients to connect with clinical trial data. Virginia founder Harsha Rajasimha sees clinical trials as a crucial piece of the healthcare puzzle. But not everyone gets to take advantage of them. Before he launched a startup, Rajasimha was just an older brother who had …

Nonprofit generic drug company to create 51 new jobs at testing and R&D lab in Chesterfield County that will support Petersburg manufacturing operation RICHMOND, VA – Governor Glenn Youngkin today announced that non-profit Civica Inc. (Civica) will invest $27.8 million to establish a new laboratory testing facility at Meadowville Technology Park in Chesterfield County. The company …

Adial Pharmaceuticals, Inc., announced that Purnovate, Inc., a subsidiary of Adial focused on developing novel molecules targeting the adenosine receptors for the treatment of major unmet medical needs, achieved positive in-vivo data from its study with mice treated with Purnovate’s PNV-6005 as a potential treatment for inflammatory bowel diseases. PNV-6005 is a selective adenosine 2A …

The Richmond region has won a $52.9 million federal grant to create a hub for research and advanced manufacturing of essential medicines and pharmaceutical ingredients. The White House announced the grant to the Virginia Biotechnology Research Partnership Authority on Friday. It is among 21 projects that will receive grants from the Build Back Better Regional Challenge, using a $1 billion …

The Virginia Innovation Partnership Corporation (VIPC) announced new grant funding totaling approximately $1.75 million to 24 Virginia small businesses through its Commonwealth Commercialization Fund (CCF). CCF is a competitive program that seeks to fund high-potential, Virginia-based, for-profit technology companies at the pre-seed stage of commercialization and provides grants up to $75,000. Each award is matched …

HemoShear Therapeutics, Inc., a privately held biotechnology company developing drugs for rare diseases, today announced the appointment of Brian Wamhoff, PhD, as interim chief executive officer. Dr. Wamhoff is a founder of HemoShear where he co-developed HemoShear’s REVEAL-Tx™ drug discovery platform, which combines biological and computational models of human diseases to accelerate drug development. He has led …

Adial Pharmaceuticals, Inc. (NASDAQ: ADIL; ADILW) (“Adial” or the “Company”), a clinical-stage biopharmaceutical company focused on developing therapies for the treatment and prevention of addiction and related disorders, announced the appointment of Cary J. Claiborne as President and Chief Executive Officer. Mr. Claiborne, who has 18 years of experience in leadership roles with clinical and …

Pharos Capital Group, LLC (“Pharos”), a private equity firm based in Dallas and Nashville, announced it has sold its stake in portfolio company TechLab, Inc. (“TechLab”), a leading developer and manufacturer of rapid, non-invasive diagnostic tests for infectious disease, intestinal inflammation, and parasitology, to SSI Diagnostica, a portfolio company of the private investment firm Adelis …

Newport News, VA, ivWatch, LLC, an innovative IV safety company working to eliminate harm caused by infiltration and extravasation events, announced three new strategic distribution partnerships internationally. Bameco in Austria, Warba Medical Supplies in Kuwait, and Mustafa Sultan Science & Industry Co, LLC in Oman have each signed exclusive agreements to promote, sell, and support …

Richmond pharma company also hires chief commercial officer.   Richmond-based Kaléo on Thursday announced the formation of a new government business unit to focus on domestic and international procurement of the company’s system to reverse the effect of weaponized opioids as well as to provide access to it for military and civilian stockpiles. Kaléo’s Rapid …

Charlottesville, VA – HemoShear Therapeutics, Inc., a privately held clinical stage biotechnology company, has received a milestone payment under its October 2020 research collaboration and service agreement with Takeda. The milestone acknowledges development of a human tissue-based model of an undisclosed rare liver disease using the company’s REVEAL-Tx™ platform. REVEAL-Tx™ combines physiological and computational models of …

RICHMOND, Va. — The residents agreed: Nobody like Robert Winn — director of the Virginia Commonwealth University Massey Cancer Center — had ever visited the neighborhood before. This development on the outskirts of Richmond, more parking spots and asphalt than trees and lawn, was “the hood,” after all, they said. “This neighborhood — it’s been …

Richmond, Va – Kaléo, a privately held U.S. pharmaceutical company, today announced that it has entered into a ten-year License, Supply, and Commercialization agreement with Valeo Pharma, a Canadian pharmaceutical company, for the Canadian rights to ALLERJECT® (epinephrine injection, USP) for the treatment of severe allergic reactions. “Patients with life threatening allergies across Canada deserve access to this …

RICHMOND – The Virginia Talent + Opportunity Partnership (V-TOP), in collaboration with the State Council of Higher Education for Virginia (SCHEV) and the Virginia Chamber of Commerce, recognized 32 recipients of the inaugural 2022 Top Virginia Employers for Interns Awards today. The virtual recognition event included video remarks from SCHEV Director, Peter Blake, Virginia Chamber …

PRINCETON, N.J.–(BUSINESS WIRE)– Bristol Myers Squibb (NYSE:BMY) today announced, in collaboration with Disability Solutions, a U.S.- based non-profit organization that supports companies globally to achieve true disability inclusion, the launch of the Disability Diversity in Clinical Trials (DDiCT) initiative. This new initiative aligns with Bristol Myers Squibb’s broader inclusion and diversity health equity commitments to address health disparities, clinical trial diversity, …