3 Companies, Emory To Get 2006 GBP Deal of Year Honors.ATLANTA -- Emory University, CardioMEMS, Alimera Sciences and Proxima Therapeutics are 2006 winners of the Georgia Biomedical bi·o·med·i·cal adj. 1. Of or relating to biomedicine. 2. Of, relating to, or involving biological, medical, and physical sciences. Partnership's (GBP GBP In currencies, this is the abbreviation for the British Pound. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. ) Deal of the Year awards. They will be honored at the GBP's Annual Awards Dinner January 13 at the Grand Hyatt Atlanta. The Deal of the Year recognizes transactions, such as financings, collaborations, acquisitions and sales of businesses that represent significant successes by members of Georgia's biosciences community. Emory will be honored for the $525 million cash payment it received for monetizing a royalty stream from an AIDS drug discovered by three university scientists. CardioMEMS will be recognized for market approval of EndoSure sensor, the first wireless, un-powered, permanently implantable pressure monitor for human use. Alimera Sciences is a winner for the second year in a row for a financing deal that raised $32 million. Proxima will be recognized for its merger with Cytyc Corp. of Marlborough, MA, which paid $160 million for the privately held cancer treatment company. Emory University received $525 million from Gilead Sciences and Royalty Pharma for monetizing its royalty stream from sales of Emtriva. The drug, which inhibits the replication of HIV HIV (Human Immunodeficiency Virus), either of two closely related retroviruses that invade T-helper lymphocytes and are responsible for AIDS. There are two types of HIV: HIV-1 and HIV-2. HIV-1 is responsible for the vast majority of AIDS in the United States. , was discovered by Emory researchers Dr. Dennis C. Liotta Dr. Dennis Liotta is a Chemistry professor at Emory University in Atlanta, Georgia, United States. Along with Dr. Raymond F. Schinazi and Dr. Woo-Baeg Choi of Emory, he discovered Emtricitabine, which is a breakthrough HIV drug; the drug was sold to Gilead Sciences in July , Dr. Raymond F. Schinazi and Dr. Woo-Baeg Choi. CardioMEMS launched sales this year of its EndoSure wireless pressure measurement system for abdominal aortic aneurysms following clearance of the device by the U.S. Food and Drug Administration. The EndoSure system is based on microelectromechanical systems (MEMS (MicroElectroMechanical Systems) Tiny mechanical devices that are built onto semiconductor chips and are measured in micrometers. In the research labs since the 1980s, MEMS devices began to materialize as commercial products in the mid-1990s. ) and wireless technologies. The sensor is implanted during the endovascular aortic aortic pertaining to or emanating from the aorta. See also aortic arch. aortic aneurysm occurs most often in dogs, where it is caused by Spirocerca lupi larvae, turkeys and primates, causing dyspnea, cyanosis and coughing. repair (EVAR EVAR Endovascular Aneurysm Repair EVAR Experimental Vehicle for Avionics Research EVAR Extravehicular Activity Retriever ) procedure. To take a measurement, the physician places an antenna on the patient's abdomen and activates the sensor using low power radio-frequency energy. A real-time, high-resolution pressure waveform is displayed on a touch screen monitor. Alimera Sciences, an ophthalmic pharmaceutical company, raised $32 million in its second round of venture capital financing To start an own company or to bring a new product to the market, the venture may need to attract financial funding. There are several categories of financing possibilities. If it is a small venture, then perhaps the venture can rely on family funding, loans from friends . Venrock Associates led the new round, and all four original first round firms continued their investment. The additional resources will be used to further develop Alimera Sciences' retinal portfolio, including Medidur, the company's Phase III-stage treatment for diabetic macular edema macular edema Ophthalmology Waxing and waning retinal thickening due to the accumulation of fluid, seen in Pts with diabetic retinopathy, seen with a binocular slit lamp or stereoscopic fundus photography; while ME has no visual consequences, it is often . Proxima Therapeutics was acquired in early 2005 for $160 million after developing and commercializing a unique device that delivers breast cancer radiation therapy at the site of a tumor following its removal. The product, MammoSite, uses a small balloon catheter to deliver a radioactive seed, considered faster and safer than traditional therapy. The sale of Proxima is expected to create opportunities for the formation of new Georgia companies by former Proxima associates. About Georgia Biomedical Partnership The Georgia Biomedical Partnership (GBP), founded in 1989, represents the life sciences industry in Georgia. Its 680 members include companies, research institutions and universities, government groups and corporate service providers involved in biotechnology, pharmaceuticals, medical devices and diagnostics, medical informatics and related businesses. For more information, visit www.gabio.org |
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