GEORGIA BIOMEDICAL PARTNERSHIP; Reports summarize new developments from Georgia Biomedical Partnership

Reports summarize new developments from Georgia Biomedical Partnership.

This trend article is an immediate alert from NewsRx to identify the most recent news developments at Georgia Biomedical Partnership.

Report 1: The Georgia Biomedical Partnership (GBP) strongly urges amending SB 148 to remove unnecessary and hostile references to stem cell research.

The GBP supports SB 148's proposal to establish an umbilical cord blood and postnatal tissue bank for research and medical treatment. The bill's inflammatory references to another form of research, embryonic stem cell research, are immaterial to SB 148's purpose. They are also inaccurate and unscientific.

The GBP is the private, non-profit association representing the life sciences industry in Georgia. The mission of the GBP is to promote the application of all forms of research for development of new therapies and cures to improve the health of all Georgians.

The GBP urges the Georgia House of Representatives to amend the bill to remove unnecessary references to embryonic stem cell research. They needlessly disparage a promising form of research that may lead to cures for thousands of Georgians currently suffering from untreatable diseases. The references are meant to be divisive.

There are numerous scientific and medical organizations that fully support embryonic stem cell research. These groups include the American Medical Association, National Academies of Science, numerous academic institutions and more than 40 Nobel Laureates.

All agree this area of stem cell research holds incredible promise for developing new treatments for many diseases, such as heart disease, diabetes, cancer, Alzheimer's disease, and Parkinson's disease. These groups urge that all forms of stem cell research should be pursued, including adult stem cells, stem cells derived from post-natal tissues and embryonic stem cells.

Both the US House and Senate have voted overwhelmingly to support embryonic stem cell research and the vast majority of Americans and Georgians support this research.

The inflammatory references to embryonic stem cell research in SB 148 portray a negative perception of Georgia to the world that will cause enormous harm to economic development initiatives. Georgia has identified life sciences as a top strategic industry for the state's growth and has invested significant funds in life sciences economic development. Hostility towards this research runs counter to the policy of this state.

By amending SB 148 to remove these references, Georgia can pass an adult stem cell research and treatment initiative with 100 percent support.

Report 2: Georgia Biomedical Partnership (GBP) President Charles Craig issued the following statement concerning Gov. Sonny Perdue's executive order creating the Commission for Newborn Umbilical Cord Blood Research and Medical Treatment:

"Gov. Sonny Perdue...signed an executive order creating a commission that will support use of innovative biomedical therapies and encourage biomedical research in Georgia. The governor's Commission for Newborn Umbilical Cord Blood Research and Medical Treatment has the potential to enhance the efforts of physicians and scientists to battle a broad range of diseases.

Report 3: The Georgia Biomedical Partnership (GBP) announced six winners in four categories for the 2007 Deal of the Year awards.

The deals reflect a broad range of activity, from university research to vaccine manufacturing, and demonstrate the diversity of Georgia's life sciences industry.

The Deal of the Year categories are Early Stage Financing; Strategic Transaction (Large Companies); Strategic Transaction (Small Companies); and Public Sector. Winners were selected from 11 finalists.

CardioMEMS and Metastatix won for Early Stage Financing; AtheroGenics and Solvay Pharmaceuticals, for Strategic Transaction (Large Company); GeoVax Labs, for Strategic Transaction (Small Company); and Emory University, Georgia Institute of Technology, and Medical College of Georgia, for the public sector. The winners were honored at the GBP's recent Awards Dinner at the Intercontinental Buckhead Hotel.

Metastatix, recognized for its $3.6 million Series A round, is an emerging cancer drug discovery company in Atlanta. The financing was led by H.I.G. Ventures and included the Aurora Funds, CM Capital Investments, SR One, and Medimmune Ventures. Existing investors, Georgia Venture Partners and Centrosome Ventures, along with the State of Georgia, also participated. Metastatix CEO Dr. Tony Shuker accepted the award.

CardioMEMS, recognized for its $22.6 million Series D round, is an Atlanta medical device company that applies microelectromechanical systems (MEMS) technology for the diagnosis, treatment and management of serious chronic diseases. Its first product is a wireless, implantable pressure monitor for human use. The financing was led by Arcapita Ventures, and included Boston Millennia Partners, Easton Capital Investment Group, Foundation Medical Partners, Johnson & Johnson Development Corp. and Medtronic. CardioMEMS has raised a total of $54 million since 2001 and employs 110 people. David Stern, senior vice president of research and development, accepted the award.

AtheroGenics, recognized for a partnership with London-based AstraZeneca that could be worth up to $1 billion, is an Alpharetta pharmaceutical company focused on the treatment of chronic inflammatory diseases. The collaboration with AstraZeneca is for the global development and commercialization of AtheroGenics oral drug for treatment of atherosclerosis. Dr. Russell M. Medford, AtheroGenics president and CEO accepted the award.

Solvay Pharmaceuticals was recognized for the $298 million federal grant it received for development of cell-based vaccines. The Brussels-based company, with U.S. headquarters in Marietta, Georgia, was awarded a five-year contract from the U.S. Department of Health and Human Services to develop cell-based influenza vaccines and plan for domestic manufacturing capacity in the U.S. Dr. Stephen Bell, U.S. Project Director for Influenza, accepted the award.

GeoVax Labs was recognized for its $4.5 million reverse merger with Dauphin Technology, enabling GeoVax to become a publicly traded company. The creative financing technique provided a rapid method of raising capital for development of GeoVax's AIDS vaccine, which is in early clinical trials. Dr. Harriet L. Robinson, chair of GeoVax's scientific advisory board, and Cynthia Tolman, vice president of regulatory and clinical affairs, accepted the award. Dr. Robinson is chief of the Division of Microbiology and Immunology at the Yerkes National Primate Research Center and is the Asa Griggs Candler Professor of Microbiology and Immunology at Emory University.

This article was prepared by Lab Business Week editors from staff and other reports. Copyright 2007, Lab Business Week via NewsRx.com.