Industry News

05/30/2024

Early-Stage Biotechs Now Tying CEO Pay Packages to Capital Raises

A tighter venture capital market has affected more than the funding biotechs receive. It’s also changed how early-stage companies structure CEO pay packages, according to Leslie Loveless, CEO and managing partner of Slone Partners, a life sciences and healthcare executive search firm. Because of how funding dipped, she told BioSpace, early-stage biotechs started tying CEO

05/20/2024

Governor Youngkin Announces New VIPC-Led Initiative that Catalyzes and Attracts Investment into Virginia-based, Innovation-driven Startups and Entrepreneurs

Governor Glenn Youngkin announced a new initiative led by Virginia Innovation Partnership Corporation (VIPC) that expands investment and growth opportunities for Virginia-based, innovation-driven startups and entrepreneurial ecosystems throughout the Commonwealth. Leveraging previous Virginia-awarded federal funding from the U.S. Department of Treasury, under its SSBCI Equity/Venture Capital Program, VIPC’s Virginia Invests launches new investment partnerships with an

04/24/2024

VIPC Names Joe Benevento as President & CEO

The Board of Directors of the Virginia Innovation Partnership Corporation (VIPC) has announced that it has unanimously selected Joe Benevento as President and CEO of VIPC. Benevento has led VIPC as Interim President and CEO since September 2023 and previously served as Deputy Secretary of Commerce and Trade for the Commonwealth of Virginia since 2022.

03/21/2024

Innovation board promises $100,000 grant for rural regions

Rural Southwest and Southside Virginia are in line for a new six-figure grant for entrepreneurship, the Virginia Innovation Partnership Corporation has announced. The innovation partnership, which held its board meeting Wednesday at the New College Institute in Martinsville, gave word at a Tuesday night dinner that it will commit $100,000. That’s the latest grant in

02/22/2024

Don’t Miss These Spring Talent Events

We’ve compiled a calendar of events happening this spring aimed at connecting talented people in the biosciences. Feb. 27: Internship Support for Employers: V-TOP Staffing Agency + Matching Funds | Virtual Employers can tune in to learn more internship support through V-TOP’s partnership with iQuasar, the statewide staffing agency and how to utilize their matching funds

01/30/2024

Virginia Bio-Connect – The Success of Virginia’s First Statewide Collaborative Life Sciences Initiative

The end of 2023 marked the completion of Virginia’s first statewide life sciences initiative, Virginia Bio-Connect, which started in April 2021. This comprehensive industry cluster strengthening project, supported by Virginia Growth and Opportunity Foundation funding and led by the Virginia Biotechnology Association, engaged thousands of life sciences professionals and hundreds of organizations and companies within

01/24/2024

Virginia Companies Expand into Global Markets through Commonwealth’s Trade Accelerator Program

Governor Glenn Youngkin today announced that 16 companies across the Commonwealth have graduated from the Virginia Economic Development Partnership’s (VEDP) Virginia Leaders in Export Trade (VALET) program and 13 companies have joined the two-year program. VALET, which now has 391 graduated companies, assists Virginia exporters that have firmly established domestic operations and are committed to

12/11/2023

$90 Million Investment to Launch “Virginia’s Research Triangle” Network Among at UVA, VA Tech and VCU

Governor Youngkin has announced that Virginia will make a significant investment to launch a biotechnology, life sciences, and pharmaceutical manufacturing network to foster collaboration among three of the Commonwealth’s major existing university research institutions. In his upcoming biennial budget, scheduled to be released on December 20th, the Governor will include a total of $90 million

12/05/2023

Industry Leader and Globally Recognized Patient Advocate John F. Crowley Appointed to Lead BIO as President & CEO

The Biotechnology Innovation Organization (BIO) is proud to announce that industry leader and military veteran John F. Crowley will be its new President and CEO, effective March 4. He will replace Rachel King, a longtime BIO board member and industry trailblazer who has served as BIO’s CEO on an interim basis for the past year.

12/04/2023

The Lessons Learned from the STEM2VA Internship Program for the Life Sciences Industry

About two years ago, the STEM2VA Program kicked off to provide internship opportunities for Virginia students within the life sciences sector on one side and to facilitate the recruitment process and offset some costs for the employers on another. The program was part of the Virginia Bio-Connect project funded by the GO Virginia grant initiative.

11/06/2023

Virginia Catalyst Announces Round 16 of Grant Funding

The Virginia Catalyst, also known as the Virginia Biosciences Health Research Corporation (VBHRC), announced that it is accepting letters of intent (LOI) for Grant Round 16 to fund the development and commercialization of life science projects that address major unmet needs for improving human health and advance Virginia’s economy. “We are proud to continue supporting

10/23/2023

EDA Announces Major Regional Tech Hub Wins for Virginia

The U.S. Economic Development Administration (EDA) selected two projects in Virginia as part of the first phase of EDA’s Regional Tech Hubs Program. The Tech Hubs Program, made possible by the CHIPS and Science Act, bipartisan legislation strongly supported by both senators, aims to strengthen U.S. economic and national security by investing in regions across the country that

10/11/2023

IndoUSrare Announces Bridging RARE Summit to Combat Rare Diseases by Fostering Cross-Border Collaborations, Data Sharing, and Clinical Trials

Rare diseases, as defined by the World Health Organization (WHO), refer to some 10,867 medically significant conditions, each with a prevalence of one or less per 1,000 individuals. With only about 8% of them being treatable,1 rare diseases include congenital malformations, autoimmune disorders, lysosomal storage disorders, thalassemia, muscular dystrophies, and infrequent forms of cancer and

09/28/2023

Governor Glenn Youngkin Announces Over $3.7 Million in Growth and Opportunity for Virginia Grants

Governor Glenn Youngkin announced today more than $3.7 million in Growth and Opportunity for Virginia (GO Virginia) grant awards for 11 projects designed to empower workforce development, bolster startup ecosystems and promote economic growth in the Commonwealth. These initiatives will play a pivotal role in nurturing skilled talent, fostering entrepreneurial ventures and bridging the gap

09/14/2023

5 Excellent Finalists Chosen for the 8th Annual BioHealth Capital Region Crab Trap

BioHealth Innovation, Inc. (BHI), a leading regional innovation intermediary, is thrilled to announce the five outstanding finalists for the 8th Annual BioHealth Capital Region Crab Trap competition. The Crab Trap is a competition designed to identify and showcase promising life sciences and biotechnology startups from around the world. These finalists have demonstrated exceptional innovation, vision,

07/13/2023

U.Va. biolab seeks to catalyze region’s growth

Thomas Barker says his seed-stage startup wants to find “modern, modular, functional lab space” to allow the company he co-founded, Vasarya Therapeutics, to be “very efficient and optimal on our research enterprise.” But good lab space is hard to come by in Charlottesville, and what exists is spread around, “so you don’t necessarily get the

06/08/2023

New Report Explores Latest Best Practices in State Bioscience Economic Development Initiatives

The Biotechnology Innovation Organization (BIO), in partnership with the Council of State Bioscience Associations (CSBA), released a new report on the best practices in state bioscience economic development measures, “The U.S. Biosciences Industry in the States: Best Practices in Innovation, Partnerships, and Job Creation.” The report, now in its seventh edition, analyzes the latest legislative

06/05/2023

Activation Capital Announces Plans for Development of Innovation Center – A New Life Sciences Center at Bio+Tech Park

Activation Capital, an innovation ecosystem development organization, announced plans to develop the 102,000-square foot Innovation Center in the Bio+Tech Park in Richmond, Virginia. The 34-acre Bio+Tech Park is a commercial life sciences hub in downtown Richmond adjacent to the VCU Medical Center at Virginia Commonwealth University, and is home to over 70 companies, research institutes,

05/31/2023

Apply Now: BLUE KNIGHT™ QuickPitch: Activating for the Future

Recent global disease outbreaks have had devastating impacts, triggering a renewed emphasis on preparation for potential known and unknown health threats. By proactively enhancing preparedness against emerging pathogens, we aim to minimize the scale of future outbreaks, protect vulnerable populations, and ultimately safeguard our health security. To that end, Johnson & Johnson Innovation, together with

05/24/2023

Regional Partners Collaborate to Launch Advancing Oncology InnoVAtion QuickFire Challenge

Johnson & Johnson Innovation, in collaboration with Carilion Clinic Innovation, Verge Alliance, and Virginia Tech Corporate Research Center, is proud to launch the Advancing Oncology InnoVAtion QuickFire Challenge. Innovators from around the globe are invited to submit potential solutions aiming to transform patient outcomes in oncology in adult populations with potential applications in pediatric oncology.

04/13/2023

Lighthouse Labs names new managing director

Lighthouse Labs has announced Art Espey as the new Managing Director, effective April 17. Art will replace outgoing Managing Director Paul Nolde, who will assume a similar role at Norfolk’s 757 Collab and 757 Angels organizations. Art has long been involved with Lighthouse Labs, having previously served on the organization’s Board of Directors as Founding

02/14/2023

Virginia Invests $66.7 Million to Expand Commonwealth’s Life Sciences Industry

Governor Glenn Youngkin announced more than $66 million in state grants for four projects within the Biotechnology, Life Sciences and Pharmaceutical Manufacturing Cluster. These projects provide job creation, wage expansion, and broader economic growth throughout the Commonwealth. “In order to make Virginia a leader in biotechnology, life sciences and pharmaceutical manufacturing, we have to accelerate

01/31/2023

Chandra Briggman among the Virginia Best Black Business Leaders

Richmond, VA /Virginia Business/ – Black History Month traces its origins to an annual weeklong observance started in 1926 by historian and scholar Carter G. Woodson, a Virginia native. And since then, the February celebration of Black history makers and events has been intertwined with commemorating successful business icons like fellow Virginia-born greats Maggie Walker

01/20/2023

PS-Fertility, maker of a male fertility test, to establish HQ outside Charlottesville

Life sciences startup PS-Fertility Inc. will invest $1.4 million to build out a headquarters and laboratory in Albemarle County, the office of Virginia Gov. Glenn Youngkin announced Wednesday. PS-Fertility is aiming to commercialize a male fertility diagnostic that was originally developed at the University of Virginia. The company will lease 4,000 square feet at 3030