In today’s NewsFlash roundup, Lowell stands alone for biotech, a Senate committee approves longer drug patent protection and Oxigene raises $10 million.
• MBC, MassEcon rates cities, towns for biotech; Lowell ranks highest
Among the ratings, Lowell achieved the sole platinum level; Chelmsford, Marlborough and Somerville received silver ratings; and Newton, Hatfield and Norfolk received bronze ratings. In total, MBC and MassEcon have rated 51 communities since the BioReady Communities Campaign was launched in Massachusetts in 2008.
• Senate committee pushes 12-year bio patent limit
This week, the Senate Committee on Health, Education, Labor and Pensions voted to approve a 12-year data exclusivity clause, giving biotechnology companies 12 years of drug patent protection and preventing generic drug makers for 12 years from copying the drugs and selling cheaper versions. Despite President Obama’s backing of a seven-year exclusivity limit, the HELP committee, led by U.S. Sen. Edward M. Kennedy, D-Mass., passed the measure 16 to 7.
• Oxigene to raise $10M in stock offering
The offering consists of one share of common stock, at a price of $1.60 per unit, as well as a warrant to buy 0.45 shares of common stock at $2.10 per share and a warrant that starts on the issue date and ends in the latest of a few timeline options noted by the company.
• Roush president Tom Taylor to chair MassMEDIC
Before joining Roush in 2008, Taylor was president of Nypro Life Sciences, a division of plastics manufacturer Nypro Inc. Taylor has also worked as vice president of Millipore Corp.’s OEM health care business unit. In 2007, Taylor traveled to China with Massachusetts Gov. Deval Patrick on a life sciences and clean energy trade mission.
Posted by Brendan Lynch
Tags: Barack Obama, generics, HELP Committee, Lowell, Mass Biotech Council, MassEcon, Oxigene, patents, Ted Kennedy
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