Two SC organizations have launched a new investment fund designed to boost health care innovation see more
GREENVILLE, South Carolina — Two leading South Carolina organizations have launched a new investment fund designed to boost health care innovation in the state. The Clemson University Division of Research and the Health Sciences Center (HSC) at Prisma Health recently signed agreements to fund up to $200,000 per year in grants through the new Innovation Maturation Fund.
The health care-focused grants are intended to advance the development and implementation of new medical initiatives, advance translational science, create job and educational opportunities, improve health care and drive economic growth in the region.
“This is an important step to support health sciences research in our state,” said David Sudduth, vice president and chief operating officer of the Health Sciences Center at Prisma Health. “While we have a strong history of academic, research and innovation partnership in the Upstate through the Health Sciences Center, this is the first of what we hope will be many grant-making opportunities designed with our academic partners in order to support our community.”
“Pairing Clemson University’s health research and bioengineering capabilities with Prisma Health’s industry-leading clinical environment provides an incredible opportunity for the development of medical technologies and initiatives that will improve health care for South Carolinians and many others,” said Tanju Karanfil, Clemson University vice president for research. “I am excited to see the ideas and impactful innovations that stem from this partnership.”
The fund will be managed by the Clemson University Research Foundation (CURF), which manages the process of moving Clemson’s hundreds of innovative technologies from the laboratory into commercial markets. CURF has awarded more than $870,000 in maturation funds to Clemson researchers across academic disciplines since the launch of a similar fund in 2014. Those funds have led to startup companies, new technologies available for license and follow-on research investments.
The new Innovation Maturation Fund — launched in cooperation with the HSC and Prisma Health — is the first such fund targeted exclusively toward researchers in the health sciences.
“We look forward to working with Prisma Health to leverage this fund to advance promising medical technologies from ideation through initial phases of translational product development,” said Chris Gesswein, executive director of CURF. “By identifying and targeting unmet clinical needs early in the research process, we have a wonderful opportunity to impact successful downstream commercialization of technologies developed and matured through this Innovation Maturation Fund.”
Prisma Health clinicians, Clemson research faculty and graduate students are eligible for grant funds. Applications for the first round of grants will be accepted this fall. For more information, click here.
Innovation Maturation Fund Partners
The Clemson University Research Foundation (CURF) is an independent 501(c)3 organization and was created to support the Clemson University research enterprise, guiding Clemson researchers through the technology transfer process by identifying, protecting, and developing university intellectual property. CURF is committed to creating a sustainable model for research by connecting Clemson researchers to external organizations and identifying opportunities for research collaboration to feed back into Clemson University.
The Health Sciences Center at Prisma Health is a collaboration between Prisma Health, Clemson University, Furman University and University of South Carolina. Located on the Greenville Memorial Medical Campus, this nationally recognized center seeks to bridge the gap between academics, research, clinical practice and health care transformation in a way that is innovative, inter-institutional, interprofessional and interdisciplinary. Regional community, education and business leaders also participate in the Health Sciences Center’s shared governance.
Prisma Health, a not-for-profit health company, is committed to excellence in patient care, clinical research and teaching the next generation of medical professionals. Our organization – South Carolina’s largest private employer – was formed when Greenville Health System and Palmetto Health joined together in late 2017, officially becoming Prisma Health in January 2019. With 32,000 team members (including volunteers), 18 hospitals and over 300 physician practice sites, we serve more than 1.2 million patients annually – about a quarter of the state’s population. Our goal is to improve the health of all South Carolinians by enhancing clinical quality, the patient experience and access to affordable care. Our cardiovascular, neuroscience, OB/GYN, oncology and orthopedic programs attract patients throughout the region. Also noteworthy are our two renowned children’s hospitals, comprehensive diabetes care and extensive primary care network. Ultimately, we are dedicated to transforming the health care experience for our patients and families, our team members and guests by bringing our purpose to life: Inspire health. Serve with compassion. Be the difference. Learn more at PrismaHealth.org.
SCBIO's Morgan Nichols Named Miss South Carolina 2019 see more
COLUMBIA – Miss Clemson, Morgan Nichols, is the new Miss South Carolina.
The Lexington resident and SCBIO associate received a $60,000 scholarship — the highest of any state pageant in the nation and $10,000 more than Miss America received last year. She will go on to compete in the Miss America pageant this September.
It was Nichols’ first appearance in the pageant — a rarity among Miss South Carolina winners.
“I’m just in shock right now,” she said. “I can’t believe it. This my first time ever competing in the Miss South Carolina organization. And I’m just so happy.”
Nichols lists as her platform a commitment to STEM – science, technology, engineering and mathematics – with a goal of convincing students to stick with those fields. She plans to seek her Master of Business Administration at Harvard.
Nichols, 22, was crowned by former Miss South Carolina Davia Bunch. Bunch, 22, received a $50,000 scholarship last year. She plans to complete her senior year at the University of South Carolina in political science and go to law school.
“There is just a lot of emotions,” Bunch said after relinquishing her crown. “I have gotten so close with all the girls throughout the year and am so proud of all of them.”
On Friday, Miss Columbia Teen Kellan Fenegan of Lexington was crowned the new Miss South Carolina Teen.
There were 51 contestants for Miss South Carolina and 50 contestants for Miss South Carolina Teen — all winners of regional pageants held statewide.
This year, the Miss South Carolina pageant and Miss South Carolina Teen pageant are awarding $240,000 in scholarships, including $60,000 to Miss South Carolina, the highest winning scholarship in the nation and even more than the Miss America 2018 scholarship of $50,000.
Also, Miss South Carolina has led the nation in raising money for Miss America’s charity, the Children’s Miracle Network., for eight years. The charity raises funds for children’s hospitals, medical research and community awareness of children’s health issues.
Last year, the contestants raised $154,000. This year, they have raised $135,000, with more donations to come.
Contestants for Miss South Carolina and Miss South Carolina Teen compete in three categories: talent, evening wear/question and judge’s interviews. Teens also compete in sportswear.
Talent carries the most weight at 35 percent, and the competition includes a large number of singers, dancers, baton twirlers and musicians. But during the preliminaries there were also speed painters (to both music and dialogue), monologues and clogging to soul and pop music (anything but bluegrass) and one contestant who “sang” in sign language.
Interviews count for another 35 percent and fitness and evening gowns/questions count 15 percent each. Thirty-five percent of a contestant’s composite score in the preliminaries is carried over to the finals.
This is only the second year of the sportswear competition since the Miss America organization dropped the swimsuit competition last year in a pivot called Miss America 2.0. The women and teens compete by performing an aerobic exercise.
In each category, the contestants are judged from 1 to 10 by five judges with the high and low scores thrown out. The preliminary scores will narrow the competition down to 15 finalists. A 16th, called the People’s Choice, is chosen by viewers of the pageant’s live streaming broadcast at miss-sc.org.
SCBIO and Nephron Pnarma executive Lou Kennedy honored by E&Y see more
WEST COLUMBIA, S.C., June 28, 2019 /PRNewswire/ -- Ernst & Young (EY) honored Nephron Pharmaceuticals President and CEO Lou Kennedy as Health Care Entrepreneur of the Year for the Southeast on Thursday during a gala at the Coca-Cola Roxy in Atlanta. Kennedy, who is Chairman of the South Carolina Chamber of Commerce and of SCBIO, and a nationwide leader in health care, will now compete for the EY national entrepreneur of the year award in November.
"I am grateful that EY recognizes the hard work our team does every day to deliver safe, effective and affordable drugs to patients, focusing on opiod-free pain treatment," said Kennedy. "As president of a global leader in life-saving drug manufacturing, I hope this award serves as a reminder that women are leading the fight to improve lives across the country and world, and at Nephron, like so many women-owned businesses, we are just getting started."
Business leaders consider the EY entrepreneur of the year award to be one of the highest professional honors a business owner can earn. The award identifies leaders of fast-growth companies who are making a difference for their communities and beyond through innovation.
Nephron is a certified woman-owned business, as recognized by the National Women Business Owners Corporation (NWBOC), the first certifier of Women Business Enterprises. The certification gives Nephron enhanced visibility and a competitive edge.
The Nephron workforce is forty-four percent women, holding the majority of all advanced degrees at the company. Additionally, women hold key management roles in various departments throughout Nephron, such as Quality Assurance, Chemistry and Microbiology, Regulatory Compliance, Human Resources, Training, R&D Engineering, and Product Development.
Nephron Pharmaceuticals Corporation develops and manufactures safe, affordable generic inhalation solution and suspension products specializing in Blow-Fill-Seal technology. In addition, the company operates an industry-leading 503B Outsourcing Facility division which produces pre-filled sterile syringes and IV bags for hospitals across America, in an effort to alleviate their drug shortage needs. In accordance with the DQSA draft guidance, the company follows cGMP, GDP and all quality expectations. The company has been licensed by the Food and Drug Administration. Nephron received a 2017 ISPE/FOYA innovation award for the high level of automation present throughout the facility. For more information, please visit www.nephronpharm.com.
Nephron CEO and SCBIO Chair Lou Kennedy interviewed on the growth and success of her organization. see more
Nephron Pharmaceuticals Corporation, located in West Columbia, South Carolina, is a global leader in manufacturing generic respiratory medications and contract manufacturing. Through its innovative approach to sterile manufacturing, Nephron also provides patients access to affordable, high-quality medications. Nephron’s sterile injectables program helps with the drug shortages that hospital across the country are facing.
Nephron has grown from 400 employees in 2018 to now over 1,000. A certified woman-owned business, Nephron is recognized by the National Women Business Owners Corporation (NWBOC), the first certifier of Women Business Enterprises. CEO Lou Kennedy leads the dyunamic organization as well as chairs SCBIO, the life sciences organization for the Palmetto State. Enjoy this interview with Lou Kennedy, courtesy of MidlandsBiz: https://whosonthemove.com/lou-kennedy-nephron-pharmaceuticals/
Greenville-based Health IT firm Chartspan lands $15 million in funding from BIP Capital see more
One of the Upstate’s biggest entrepreneurial success stories is ready to begin its next stage of growth, and with it, the expectation of 200 to 300 more jobs over the next 24 to 36 months, almost all of them in Greenville.
With a just-closed funding round of $15 million from a syndicate led by BIP Capital, an Atlanta-based venture capital firm, ChartSpan Medical Technologies is doubling its deployed capital, for a total of $30 million.
Now, new funding in hand, ChartSpan will spend “a majority” of it to embark on a national sales and marketing strategy designed to capture an even larger share of the chronic care management market, said co-founder and CEO Jon-Michial Carter.
Founded in Houston, Texas, ChartSpan chose Greenville for its headquarters in 2013 and soon emerged as the largest managed-service provider affiliated with the Centers for Medicare & Medicaid Services (CMS) chronic care management program. Currently, ChartSpan offers technology-enabled coordination of care to the patients of 106 health systems and medical practices, most of them in the Southeast.
Working from ChartSpan’s offices at 2 N. Main St., trained clinicians assist patients with such varied needs as contacting a nurse 24/7, refilling prescriptions, accessing medical test results, making appointments, and securing transportation, with clinical data exchanged between ChartSpan’s electronic records platform and those used by hospitals and physicians.
Nationally, ChartSpan is the market leader in the space with “the largest enrolled population in the country” served by about 200 employees, Carter said.
“Last month, there were 61 million Medicare and Medicare Advantage patients, and that is the audience that we serve,” said Carter. “CMS says 72% of them are eligible for the program we run … so 45 million available patients and we have just under 30,000 patients enrolled. So, it’s this blue ocean of opportunity.”
To capitalize on such a wide-open market, Carter sought to build on prior funding rounds in a way that would allow his company to reach mid-sized status rapidly.
Ultimately, Carter chose to partner with BIP Capital, a venture capital investment firm whose focus includes health care IT, enterprise software-as-a-service, and digital media.
Founded in 2007, the firm has invested more than $300 million since inception. Its CEO, Mark Buffington, has led investment rounds in more than 35 companies, with BIP Capital offering both funding and operational recommendations.
In a brief telephone interview, Buffington said South Carolina’s Upstate fits his firm’s focus on “second-tier innovation centers” in geographic areas “not nearly as competitive as a Boston market or a Bay Area.”
“We feel there’s just tons of uncovered opportunities,” Buffington said, citing venture partnerships in place in Minneapolis; Indianapolis; and Columbus, Ohio.
BIP Capital was attracted to ChartSpan in large part due to its early understanding of the chronic care management landscape, said Austin Poole, a senior associate.
“They’d figured out the complex parts of the process, where a lot of other groups that we had looked at were still kind of in that developmental phase, and some of them thought they might have had it figured out, but a closer look said that there might be more steps before they actually got there,” Poole said during a visit to Greenville.
The $15 million deal led by BIP includes syndicate partners Blue Heron Capital of Richmond, Virginia; Bailey Southwell & Co. of Nashville, Tennessee; and Croft & Bender of Atlanta. All four members of the syndicate hold preferred stock equity stakes in ChartSpan.
“Blue Heron is interesting because their entire LP [limited partnership] structure are just former health care executives that have run large enterprise companies,” Carter noted. “So, that was obvious, the attraction for us, and we spent time with them in Richmond, and again, loved the regional focus,” Carter said.
Poole, along with BIP Vice President Sarath Degala, will operate out of Greenville’s NEXT on Main incubator and will collaborate with Carter and other ChartSpan personnel on the company’s growth while also becoming familiar with other businesses in the region.
“We expect to hold office hours, take part in pitch events, mentor entrepreneurs and companies, provide guidance in strategies and funding alternatives as well as hopefully become engrained in the VC infrastructure in the community,” Degala said via email.
John Moore, president and CEO of NEXT, believes BIP Capital’s arrival in the Upstate represents a turning point in the evolution of funding for entrepreneurs.
“One of the biggest things obviously in any ecosystem is building access to capital. … We’ve been working on that for a long time, and to see something like this happen and see BIP’s leadership, first and foremost in the investment in ChartSpan, is tremendous,” Moore said.According to Moore and Carter, BIP’s deepening commitment to the Upstate will provide a flight path to growth funding for a variety of local firms that successfully launched with seed money.
VentureSouth, which now operates 12 angel groups across the Carolinas, provides much of that early stage funding, said Matt Dunbar, one of its three managing directors. The combined group, with 320 active investors, has deployed $36 million for 67 companies since 2008.
Using preliminary data, the Angel Capital Association, a national trade group, just placed VentureSouth among the top 10 angel groups in the country in terms of dollars invested, or $7 million in 22 companies during 2018.“Matt was a resource and in some ways a mentor for me early on,” Carter remarked. “All of these things in Houston, Texas, where we came from, we would’ve got lost and drowned. We wouldn’t have had this kind of support.”
Now, Carter’s company looks set to add significantly more clients, revenues, and jobs.
“Part of what was so compelling for us about ChartSpan as an investment was, not only does it bring efficiency to the whole U.S. health care system, but also the impact that it has on the patients,” said BIP’s Austin Poole.
“Any time you’re positively impacting the end-user in that magnitude, we get excited about that,” he said.
Thorne scores TKO with UFC partnership see more
Las Vegas and New York – UFC®, the world’s premier mixed martial arts organization, today announced a new multi-year, global marketing partnership with Thorne that names the company as the “Official Sports Performance Nutrition Partner” of UFC. Thorne, one of the world’s leading health and wellness, technology, and supplement companies, also becomes an “Official Partner of the Performance Institute®”, UFC’s state-of-the-art training and research facility that has served more than 400 athletes since opening in 2017.
Under the terms of the agreement, Thorne’s line of NSF Certified for Sport products will be integrated into supplement plans created by UFC-registered dietitians for athletes training at UFC’s Performance Institutes in Las Vegas and Shanghai. Thorne will also have ownership of the Performance Institute Nutrition Stations, dedicated areas that provide individualized health and wellness solutions to UFC’s athletes. “Embedded,” the all-access video content series featuring Dana White and top UFC fighters, will also highlight Thorne as Presenting Partner of select episodes, with unique product integrations. Additional partnership enhancements include integrated digital marketing campaigns, VIP experiences, consumer sweepstakes, and hospitality.
Said Clint Wattenberg, Director of Sports Nutrition, UFC Performance Institute: “Thorne is the unquestioned leader in quality and innovation in the sports nutrition supplement industry, making them the perfect match to support the UFC PI and the athletes who choose to use our services. This UFC-Thorne partnership shows UFC athletes, as well as consumers, where to find the safest and highest-quality products available.”
Added Jeff Novitzky, Vice President of Athlete Health & Performance at UFC: “We’re thrilled to bring Thorne on board as our Official Sports Performance Nutrition Partner. Thorne is an industry leader with an unmatched reputation for quality and safety in their nutritional products and supplements, including what all UFC athletes should look for in making safe sports supplement choices, third-party testing for banned substances. Through decades of clinical research and science, Thorne has proven that its products are scientifically backed, safe, and free of banned substances.”
“Thorne has long been committed to providing scientifically backed natural solutions for the most unique and complex health and wellness issues,” said Paul Jacobson, CEO of Thorne and Onegevity Health. “When we were approached by UFC to assist in addressing athlete health and performance issues, we felt we could help by deploying our Onegevity health intelligence platform, including testing, data-based solutions and Thorne supplements. We are excited about this new partnership and honored by the trust UFC has shown in Thorne and our ability to help address both the immediate and long-term health needs of their athletes.”
Prisma Health has named its new President and CEO see more
Prisma Health announced the selection of Mark S. O’Halla as the health company’s new president and chief executive officer (CEO). O’Halla, along with the members of the executive leadership team, will be responsible for advancing the health company’s goal to create a better state of health in South Carolina by improving clinical quality, the patient experience, access to care, and addressing rising health care costs. O’Halla will join Prisma Health in mid-August. Prisma Health is a Mission Partner of SCBIO, the life sciences organization of South Carolina.
O’Halla has been serving as executive vice president/chief operating officer of Michigan-based McLaren Health Care since 2014. He has more than 30 years of progressive experience in health care senior executive roles, including 13 years with the McLaren organization.
The board of directors was pleased with the high-quality candidates they reviewed for this important role. “We are honored to select Mark as our next leader. We believe his experience leading a multiregional health care system will be a critical element in ensuring Prisma Health continues its journey to transform health care for our communities. We look forward to working with Mark to ensure that South Carolinians get the quality health care they need and deserve,” said James E. “Rick” Wheeler, chair of the Prisma Health board of directors and vice president of M-D Metal Source.
O’Halla added, “Joining Prisma Health and its 32,000 team members is an exciting opportunity to help redefine and continue improving health care for patients in South Carolina. I am proud to be part of this vibrant new health company, focused on providing exemplary quality, smart growth and sustained financial strength. I am also excited to work with physicians and university partners to advance its academic mission.”
As the executive vice president/chief operating officer at McLaren Health Care, a 14-hospital system with two health insurance plans covering 583,000 lives, O’Halla spearheaded initiatives to achieve top performance in areas of financial, operating and clinical quality, created a standardized patient-centered focus across the system that improved patient satisfaction, directed the alignment and growth of its Medical Group, and led efforts to integrate various clinical and administrative elements of the health system.
O’Halla earned his bachelor’s degree in Accounting and Finance from the University of Toledo, Toledo, Ohio; and master’s degree in Business Administration from William E. Simon Graduate School of Business at the University of Rochester, Rochester, New York. He is active in several health care organizations including American College of Healthcare Executives and served on several community boards.
O’Halla and his wife, Anita, will be relocating to Greenville, South Carolina. They have three grown children.
In January, Prisma Health launched the national search for its new CEO to lead the organization formed by the partnership of South Carolina’s largest health care systems, Greenville Health System (GHS), now Prisma Health–Upstate and Palmetto Health, now Prisma Health–Midlands.
Physicians who participated in O’Halla’s selection look forward to working with him as Prisma Health’s first president and CEO.
The current Co-CEOs, Michael C. Riordan, former CEO of Greenville Health System and Charles D. Beaman Jr., former CEO of Palmetto Health, have been working together over the last two years to set a strong foundation of governance and leadership for Prisma Health. Six months ago, Beaman and Riordan began focusing on specific areas to ensure Prisma Health was operating efficiently. Riordan has been responsible for driving several strategic projects to position the organization for long-term success, including facilitating the CEO search. On Friday, May 31, he will conclude his final project and fulfill his commitment to the organization, at which time he will retire from Prisma Health. Beaman has been focused on Prisma Health operations and will fulfill his commitment to the organization and step down from Prisma Health upon O’Halla’s arrival.
About Prisma Health
Prisma Health is a not-for-profit health company and South Carolina’s largest private employer. We are committed to excellence in providing patient care, conducting clinical research and teaching the next generation of physicians, nurses, dentists and other medical professionals. Our organization was formed in late 2017 when Greenville Health System and Palmetto Health joined together, officially becoming Prisma Health in January 2019. With nearly 32,000 team members, 18 hospitals and more than 300 physician practice sites, Prisma Health serves more than 1.2 million patients annually – about one quarter of the state’s population. Our goal is to improve the health of all South Carolinians by improving clinical quality, the patient experience and access to affordable care. Our groundbreaking programs in cardiovascular, diabetes, neuroscience, oncology and orthopedics care – as well as our two renowned Children’s Hospitals – attract patients from throughout the Southeast. Ultimately, we are dedicated to transforming the health care experience for our patients and their families, our team members and our guests by bringing our purpose to life: Inspire health. Serve with compassion. Be the difference. For more information, visit PrismaHealth.org.
MUSC named to the Forbes 2019 list of America’s Best Large Employers see more
The Medical University of South Carolina (MUSC) has been ranked No. 267 out of 500 organizations on the Forbes 2019 list of America’s Best Large Employers. MUSC is one of only 22 organizations included in the Healthcare & Social category. This is the second time MUSC has appeared on this annual Forbes list, which pinpoints the companies liked best by employees.
“Employee engagement and satisfaction are critical elements in achieving any organization’s success in both the short term and long term,” said MUSC President David J. Cole, M.D., FACS. “This recognition is a valuable acknowledgment of our ongoing efforts to provide every employee with a work environment where they are supported, appreciated and part of positive, life-changing teams.”
Collaborating with market research firm Statista, Forbes surveyed more than 50,000 employees working at U.S. companies and organizations with at least 1,000 people. The survey was conducted with global digital data collection partners who use innovative technology and proven sampling methodologies to facilitate a deep understanding of consumer opinions and behavior. Participation in the survey was voluntary, and respondents were recruited from thousands of sources to maximize reach and representation.
The survey included more than 30 detailed questions about working conditions. In addition, the American employees were asked to determine, on a scale of zero to 10, how likely they were to recommend their employers to someone else. The survey also stratified workers’ responses on topics like innovation, remuneration, benefits and atmosphere. Further, they were asked how they feel about the other employers in their respective industries. The mix of respondents (gender, age, region and ethnicity) in the sample represents American employees.
About The Medical University of South Carolina
Founded in 1824 in Charleston, MUSC is the oldest medical school in the South, as well as the state’s only integrated, academic health sciences center with a unique charge to serve the state through education, research and patient care. Each year, MUSC educates and trains more than 3,000 students and 700 residents in six colleges: Dental Medicine, Graduate Studies, Health Professions, Medicine, Nursing and Pharmacy. The state’s leader in obtaining biomedical research funds, MUSC brought in more than $276.5 million in fiscal year 2018.
As the clinical health system of the Medical University of South Carolina, MUSC Health is dedicated to delivering the highest quality patient care available, while training generations of competent, compassionate health care providers to serve the people of South Carolina and beyond. Comprising some 1,600 beds, more than 100 outreach sites, the MUSC College of Medicine, the physicians’ practice plan, and nearly 275 telehealth locations, MUSC Health owns and operates eight hospitals situated in Charleston, Chester, Florence, Lancaster and Marion counties. In 2018, for the fourth consecutive year, U.S. News & World Report named MUSC Health the number one hospital in South Carolina. To learn more about clinical patient services, visit http://muschealth.org.
MUSC and its affiliates have collective annual budgets of $3 billion. The more than 17,000 MUSC team members include world-class faculty, physicians, specialty providers and scientists who deliver groundbreaking education, research, technology and patient care. For information on academic programs, visit musc.edu.
Harbor Entrepreneur Center gains new leader see more
The Harbor Entrepreneur Center, a nonprofit focused on helping entrepreneurs through accelerator programs and coworking spaces, will have a new executive director on June 1.
Daniel Stern, the former executive director of the Jewish Community Center and previous major gifts officer for the Lowcountry Food Bank, will assume the helm. John Osborne, the Harbor’s co-founder and current executive director, said recently he plans to step down to work fulltime at Good Growth Capital, a Charleston-based venture capital fund, and with Charleston Angel Partners, an area investment group. “The Harbor is heading into a phase of rapid growth and we are excited to have Daniel on board to lead our nonprofit,” said Osborne, who will sit on the board.
SCBIO's Charleston-area office is graciously hosted at The Harbor Entrepreneur Center by the non-profit organization.
HOTH THERAPEUTICS SIGNS TERM SHEET WITH ZYLÖ THERAPEUTICS TO ACQUIRE A LICENSE AND JOINTLY DEVELOP A PRODUCT TO TREAT LUPUSSouth Carolina's Zylo Therapeutics partners with Hoth on lupus treatment see more
NEW YORK, May 14, 2019 /PRNewswire/ -- Hoth Therapeutics, Inc. (Nasdaq: HOTH) a biopharmaceutical company focused on unique targeted therapeutics for patients suffering from indications such as atopic dermatitis–also known as eczema–as well as dermatological and chronic wound disorders, today announced that the company has signed a term sheet with Zylö Therapeutics Inc (Zylö) to co-develop a new treatment for patients suffering from Cutaneous Lupus Erythematosus (CLE). CLE is a chronic autoimmune disease that affects the skin.
Zylö, dedicated to bringing innovative technologies to multiple facets of medicine, has an innovative sustained-release drug-delivery system that was developed by Joel Friedman MD PhD, Adam Friedman MD FAAD, and Andrew Draganski PhD. The delivery system uses patented xerogel-derived nanoparticles, called Z-pods™, to deliver—in a sustained and controlled manner—notoriously hard-to-deliver therapeutic agents through topical administration. For more information, please visit; http://www.zylotherapeutics.com/
Scientists at Einstein College of Medicine recently demonstrated that topical administration with AEA-loaded nanoparticles significantly prevents the development of CLE in an established animal model of lupus. This work reinforces and highlights the utility of targeting the endocannabinoid system for autoimmune rheumatic diseases.
The work at Einstein supports the thesis that AEA loaded into Z-pods™ improves drug skin penetration, reduces the expected inflammatory cytokine secretion by keratinocytes when exposed to ultraviolet radiation, prevents the development of CLE skin lesions, improves skin histopathology, prevents inflammation and structural damage on histology and reduces macrophages and C3 accumulation.
According to estimates by the Lupus Foundation of America (LFA), 1.5 Million Americans currently suffer from lupus, with 16,000 new cases reported annually. Tragically, lupus strikes mostly women of child-bearing age. Worldwide, the LFA estimates that at least five million people may have some form of the disease. Of the people diagnosed, approximately two-thirds will develop CLE. The annual average cost to provide medical treatment for a person with lupus: $6,000 to $10,000, with some treatment costing several thousand dollars a month.
"Management is extremely pleased to partner with Zylö Therapeutics, enhancing our portfolio of unique treatments for patients suffering from various dermatological related ailments," stated, Mr. Robb Knie, CEO of Hoth Therapeutics. "Zylö's initial work shows significant promise in combating Cutaneous Lupus Erythematosus, and we look forward to working with them in order to bring this treatment to market."
"We are thrilled to partner with Hoth, a company that is committed to innovative solutions and partnerships to develop treatments for diseases with a high unmet clinical need, such as lupus," said Scott Pancoast, CEO of Zylö. "As we work with the Hoth team to advance AEA-loaded Z-pods through the next stages of development, we expect to further demonstrate the important role that our patented Z-pod delivery system plays in improving treatment outcomes."
The term sheet is non-binding and neither party thereto shall have any obligation to consummate a transaction of any kind until such time as the parties have entered into a mutually agreeable definitive agreement. There can be no assurance that any such definitive agreement will be entered into or that the transaction will be completed on the terms set forth in the term sheet, or at all.
About Hoth Therapeutics, Inc.
Hoth Therapeutics, Inc., a Nevada corporation, is a biopharmaceutical company focused on unique targeted therapeutics for patients suffering from indications such as atopic dermatitis, also known as eczema. Hoth has exclusive worldwide rights to the BioLexa Platform.
Forward Looking Statements
This press release includes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements in this press release include, but are not limited to, statements that relate to the advancement and development of the BioLexa Platform, the commencement of clinical trials, the availability of data from clinical trials and other information that is not historical information. When used herein, words such as "anticipate", "being", "will", "plan", "may", "continue", and similar expressions are intended to identify forward-looking statements. In addition, any statements or information that refer to expectations, beliefs, plans, projections, objectives, performance or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking. All forward-looking statements are based upon Hoth's current expectations and various assumptions. Hoth believes there is a reasonable basis for its expectations and beliefs, but they are inherently uncertain. Hoth may not realize its expectations, and its beliefs may not prove correct. Actual results could differ materially from those described or implied by such forward-looking statements as a result of various important factors, including, without limitation, market conditions and the factors described under the caption "Risk Factors" in Hoth's Form 10K for the period ending December 31, 2018, and Hoth's other filings made with the Securities and Exchange Commission. Consequently, forward-looking statements should be regarded solely as Hoth's current plans, estimates and beliefs. Investors should not place undue reliance on forward-looking statements. Hoth cannot guarantee future results, events, levels of activity, performance or achievements. Hoth does not undertake and specifically declines any obligation to update, republish, or revise any forward-looking statements to reflect new information, future events or circumstances or to reflect the occurrences of unanticipated events, except as may be required by law.
SCBIO's Sam Konduros updates viewers on the advancements that the life sciences industry is making. see more
SCBIO CEO Sam Konduros joins Carolina Business Review moderator Chris William for an interview airing recently across the Carolinas on the rapid growth and momentum that life sciences is experiencing across the Palmetto State, and some of the challenges in dealing with that growth. CBR is the most widely watched source for business and public policy issues across North and South Carolina. Click here to enjoy the complete interview on YouTube.
Nephron initiates EDI through Global Healthcare Exchange see more
Nephron Pharmaceuticals Corporation initiated Electronic Data Interchange (EDI) ordering through the Global Healthcare Exchange, LLC (GHX) platform, accessible immediately.
Joining GHX allows Nephron customers to purchase products on the FDA drug shortage list in one simple step. This platform enables purchasers to select products from multiple vendors in one place, rather than logging in to the Nephron online ordering system. Utilizing the GHX cloud-based platform helps to reduce manual work and provides real-time data to view and validate order information. Nephron and its customers are working in real time, using all available data to streamline each process.
“Nephron is constantly trying to improve the customer experience,” said Hank Jibaja, Chief Information Officer at Nephron. “We believe utilizing the GHX platform will decrease the time required from the hospital or ordering staff.”
Nephron products including Sodium Bicarbonate, Phenylephrine, Labetalol and more are available for purchase through the GHX platform.
Hospitals and surgery centers may contact Nephron toll free at 1-800-443-4313, or via email at email@example.com.
Nephron 503B Outsourcing is a division of Nephron Pharmaceuticals Corporation. This division produces pre-filled sterile syringes and IV bags for hospitals and surgery centers across America, in an effort to alleviate their drug shortage needs. In accordance with the DQSA draft guidance, the company follows cGMP, GDP and all quality expectations. The company has been licensed by the Food and Drug Administration as a sterile manufacturer of generic respiratory medications along with an Outsourcing Facility providing equal sterility and quality. Nephron received a 2017 ISPE/FOYA innovation award for the high level of automation present throughout the facility. For more information, please visit www.nephronpharm.com.
Global Healthcare Exchange, LLC (GHX) is a healthcare business and data automation company, empowering healthcare organizations to enable better patient care and maximize industry savings using its world-class cloud-based supply chain technology platform. GHX brings together healthcare providers, manufacturers and distributors in North America, and Europe, who rely on proven healthcare-focused technology and comprehensive data to automate business processes and make more informed, timely and fact-based decisions. Solutions span procurement and accounts payable automation, contract and inventory management, vendor credentialing and management, business intelligence, payment management and other supply chain-related tools and services. For more information, visit www.ghx.com and The Healthcare Hub.
KIYATEC Announces $3 Million Initial Closing of Series B2 Preferred Stock Financing and New Investor LabCorpKIYATEC closes on new round of financing see more
GREENVILLE, SC. – May 1, 2019 – KIYATEC, Inc. today announced the initial $3 million closing of the company’s series B2 financing round. The round was led by VentureSouth and included LabCorp® (NYSE: LH).
“This validation and confidence by our investors, coupled with the exciting progress of our clinical trials, puts us on the path toward the next phase of growth and development,” said Matthew Gevaert, CEO of KIYATEC. “We are particularly excited to welcome LabCorp as a new investor because of the depth and breadth of their expertise in oncology. With the preclinical and clinical development strengths of LabCorp’s Covance Drug Development business, and their corporate position as a world leader in clinical testing, there is great potential synergy across the many ways KIYATEC’s technology can be used to improve cancer care.”
Proceeds from the financing will go toward KIYATEC’s ongoing clinical study, 3D-PREDICT, to validate KIYATEC’s proprietary assay as a patient-specific predictor of response to cancer therapies for solid tumors. The test analyzes a patient’s live cancer cells, grown in KIYATEC’s laboratory within a biologically relevant 3D microenvironment, to determine whether those cells respond to guideline-recommended cancer drugs. The 3D-PREDICT study is a fully prospective, multi-institutional effort to validate the predictive accuracy of the test and correlate response predictions to clinical outcomes among patients with newly diagnosed and relapsed ovarian cancer, glioblastoma and certain rare tumors.
The company has gained significant momentum in 2019. Recently, at the 110th Annual Meeting of the American Association for Cancer Research (AACR), KIYATEC demonstrated leading capabilities in modeling and predicting response to immuno-oncology therapies including checkpoint inhibitors. On April 10, KIYATEC was one of 20 companies recognized nationally on Capitol Hill as part of the 2019 University Innovation & Entrepreneurship Showcase. In the first quarter of 2019, KIYATEC added three clinical sites to its 3D-PREDICT study and expects to continue its momentum by adding additional sites in the second and third quarters.
About KIYATEC, Inc.
KIYATEC is dedicated to accurately modeling and predicting cancer patient response to drug therapies, using ex vivo 3D cell culture technology, in order to inform clinical decision making and drive drug development. Our predictive clinical tests provide oncologists with patient-specific response profiles to current standard of care drugs prior to treatment selection. Our predictive 3D models are being used by leading biopharmaceutical companies to increase the success of their preclinical and clinical drug development programs as they develop the cancer therapies of the future. www.kiyatec.com.
Top Clemson alumni honored for accomplishments, contributions see more
Their faces lit up the scoreboard, they patted Howard’s Rock and they celebrated by the end zone.
Some of Clemson University’s top alumni gathered in Memorial Stadium on the night of April 25 for the annual showcase gala of the College of Engineering, Computing and Applied Sciences. Three of the college’s alumni were inducted into the Thomas Green Clemson Academy of Engineers and Scientists, while three others were celebrated as Outstanding Young Alumni.
The 2019 honorees posed for a picture with Dean Anand Gramopadhye after a gala at Memorial Stadium. The newest academy members are I.V. Hall, Denise Rutledge Simmons and Vanessa Ellerbe Wyche. This year’s crop of Outstanding Young Alumni are Chelsea L. Ex-Lubeskie, Allison Godwin and Amol V. Janorkar. Continue reading the entire story here.
Commerce Office of Innovation introduces Scribble for the innovation community see more
COLUMBIA, S.C. - The S.C. Department of Commerce's Office of Innovation today announced the launch of Scribble - an online tool for the state's innovation community. Providing individuals and businesses a platform to access resources, this new site is designed to highlight South Carolina's exceptional ingenuity and create a common place for users to access a variety of helpful tools.
"South Carolina's burgeoning innovation sector has come a long way, and this new, state-of-the-art platform will ensure that entrepreneurs have all they need to thrive," said Secretary of Commerce Bobby Hitt. "Inspired by our human nature to document or write down that 'ah-ha' moment, we're excited to celebrate our innovators through Scribble."
With access to company video features, podcasts, blogs and events, Scribble allows users to create a profile to save resources and content, further enhancing the innovation community's connectivity. Launched at the 2019 DigSouth Tech Summit in Charleston, S.C., Scribble will help innovators connect with startup programs, venture capital and other resources around the state.
For more information, visit www.scribblesc.com.