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Arginetix Raises $10.75M

Arginetix, a Baltimore-based biopharmaceuticals firm, closed a Series A financing round after raising $10.75 million. The company is developing small molecule inhibitors of the enzyme arginase for the treatment of endothelial dysfunction, including pulmonary arterial hypertension, atherosclerosis and asthma.

Both Quaker BioVentures and MedImmune Ventures, a wholly owned venture capital fund of the AstraZeneca Group, led the financing.. Maryland Health Care Product Development Corp., Osage University Partners, Red Abbey Venture Partners, and company co-founder Acidophil LLC also participated in the round.

The financing will be used for continued research and development of Arginetix's first-in-class arginase inhibitors for cardiovascular and pulmonary indications. The company's scientific foundation is based on licensed intellectual property of its scientific co-founders, David Christianson, Ph.D. at the University of Pennsylvania and Dan Berkowitz, M.D. at The Johns Hopkins University.

"This financing is an important endorsement for the potential for Arginetix' discovery and development programs," said Gary Lessing, CEO and co-founder. "The company is fortunate to be working with a talented and experienced group of investors, including both traditional and corporate-based life sciences firms. Their expertise in the discovery and development of drugs and their track record at building world-class companies will be invaluable to Arginetix' continued success."

"Arginetix is pursuing major clinical opportunities using their technology for patients with cardiovascular and pulmonary diseases. The company's recent research has added further validation for this important innovation," says Dr. Geeta Vemuri, partner at Quaker BioVentures.

"Arginase appears to be an attractive target with therapeutic potential in a wide range of cardiovascular and pulmonary indications. We are pleased to support their development efforts through this investment and look forward to working with the management team," says Eva M. Jack, Managing Director at MedImmune Ventures.

Source: Gary Lessing, Arginetix
Writer: Walaika Haskins


Premier Rides moves to the city and will be hiring

Premier Rides, an amusement ride design company, will be consolidating their offices in Anne Arundel County to new headquarters at 1007 E. Pratt St., a historic building they are currently rehabilitating and expect to move into by the end of the year. They will lease part of the building and are talking to prospective tenants. Over the next year, they will also be hiring up to 10 more employees.

JHU stimulus grants top $100M

The Johns Hopkins University has received 250 research grants, for a total of $114 million, as a result of the federal stimulus package designed to advance scientific and medical knowledge while jump-starting the U.S. economy.

The grants will underwrite scientific investigations ranging from the best strategies to motivate drug addicts released from in-patient rehabilitation to agree to enroll in continuing sobriety support programs to the role certain proteins play in the development of muscle-wasting diseases, such as muscular dystrophy.

In addition to advancing the medical communities knowledge and understanding, the grants also serve to generate jobs at Johns Hopkins, boosting the region's economy, as employees spend their paychecks and Hopkins' laboratories hire personnel and buy supplies.

"This milestone is a testament to the outstanding research that our world-class faculty is conducting across the university," says Lloyd Minor, provost and senior vice president for academic affairs. "They have responded to the opportunities created by the stimulus package with the drive, commitment and entrepreneurial spirit that continues to distinguish Johns Hopkins."

Source: Lloyd Minor, Johns Hopkins University
Writer: Walaika Haskins


The Gazette of Politics and Business Names MDs exceptional Cos.

The Gazette of Politics and Business named the winners of its 2009 P&B Exceptional 53 awards program. The publication ranks 53 of the Maryland companies based on organizational growth, innovation and community service.

MedImmune, a biologics business, took top honors. The company was recognized for its exceptional growth, community service programs in health and science, education for young people, and innovative scientific and medical technology.

"We are extremely honored to be recognized by the Gazette for doing exactly what we are passionate about�helping patients and our community live better lives. The work our employees do outside of our laboratories and manufacturing sites is as important as the technological advancements that we make inside our facilities," says Toni Stiefel, director, corporate responsibility and community affairs,

Rounding out the top three spots were chemical and materials manufacturer W.R. Grace of Columbia at No. 2, Dataprise, an information technology company in Rockville was the No. 3 most exceptional company in the state.

Read the entire list of awardees here.

Source: Toni Stiefel, MedImmune
Writer: Walaika Haskins

ABA channeling Johnny Appleseed starts in Baltimore

The American Bar Association (ABA) launched its national One Million Trees Project last Wednesday at Franklin Square Elementary/Middle School in West Baltimore.

The goal of the project is to plant a million trees across the nation by 2015. The projects are being overseen locally by the Parks & People Foundation Inc., an affiliate of the national Alliance for Community Trees. 

Volunteer ABA members along teamed up with students, teachers and community members to plant trees in the schoolyard and around the building as part of the campaign to beautify Baltimore's neighborhoods.

Participants planted 10 to 15 trees at the Franklin Square schoolyard, surrounding streets and nearby park, as well as weeded, put down mulch and installed flower beds.

The tree planting event will also served as the kickoff for NeighborWoods Month, a community service campaign to heighten awareness for trees in cities all around the nation.

Source: American Bar Association
Writer: Walaika Haskins


State no. 3 after boost in public transit usage

 A new report from Environment Maryland, "Getting On Track: Record Transit Ridership Increases Energy Independence," found that in 2008, Maryland residents saved 60.7 million gallons of gasoline by riding public transit, that's roughly the amount consumed by 105,200 cars in Maryland.

"People are voting with their feet by driving less and taking more public transportation," says Mike Sherling of Environment Maryland. "Congress should listen to these voters and invest more in public transportation, which will increase our energy independence and reduce global warming pollution," Sherling adds.

The boost puts Maryland third in the nation for percent increase in transit ridership, which increased by more than 15 percent above 2007 levels.

Marylanders drove less, traveling 1.8 billion fewer miles in 2008 than in the year before - a 4 percent decrease. The decline, according the the advocacy group, is due in part to fluctuating fuel prices and decreased economic activity, with the result that many of these car trips were replaced by transit.

"Increased funding for public transit would generate jobs and provide transit services that Marylanders clearly want and need," says David McClure, President of the Amalgamated Transit Union Local 1300.

In 2008 the increase in national transit ridership saved more than 4 billion gallons of gasoline, the equivalent of the fuel nearly 7.2 million cars � almost as many passenger cars as are registered in Florida � consume in one year.

"Despite the huge potential for transit to reduce oil consumption and pollution, the vast majority of transportation funding is spent on roads," says Sherling. "Instead of wasting money to build new highways that only increase our dependence on oil, our leaders here in Maryland and in Congress should drive more money to transit, rail, and better biking and walking options," Sherling added.

However, the group's findings do not take into account the other benefits of increased transit ridership � benefits that include reduced congestion, fewer hours stuck in traffic, reductions in smog and soot pollution or money saved by households regularly taking transit.

"Environment Maryland's report could not have come at a better time." says Otis Rolley, President and CEO of Central Maryland Transportation Alliance. "In this time of statewide economic hardship, an investment in transit makes dollars and sense. This report provides evidence that not only are more Maryland residents taking transit, but that those trips are helping to protect one of Maryland's greatest resources, its environment."

The environmental impact is another plus. In addition to fuel savings, public transportation reduced global warming pollution in Maryland by 547,000 tons in 2008.

"This report serves to underscore the value of building the light rail Red Line and, beyond that, further strengthening rail transit resources in the Baltimore region," says Donald C. Fry, president & CEO of the Greater Baltimore Committee, a leading business advocate for expanding rail transit.

"Modern light rail transit would not only enhance mobility in our region, it would have economic benefits as well. Transit-oriented development along the Red Line corridor alone would create an estimated 33,000 jobs," he adds.

In order to maximize public transportation potential to save energy and reduce pollution, Environment Maryland is asking our local, state, and federal leaders to:

+ Issue overarching goals for reducing oil dependence and pollution through transportation, which will guide better policy.

+ Increase investment in cleaner public transportation, to include transit, high speed rail, and better walking and biking options.

+ Level the playing field in terms of funding and approving transit projects, relative to road projects. Approval of transit and highway investments should be governed by an equivalent set of rules and matching ratios.

+ Increase funding for transit maintenance and day-to-day operations, in addition to improving and expanding capacity. Federal, state and local funds should allow for greater flexibility in funding operations - new buses and trains are useless without drivers to drive them and mechanics to maintain them.

In the near term, Environment Maryland is calling on Congress to incorporate the full provisions of CLEAN TEA (the Clean, Low Emissions, Affordable New Transportation Equity Act, S.575 ), into the climate bill being debated now in the Senate. CLEAN TEA would direct 10 percent of climate bill allowances to clean transportation efforts that will save oil and reduce emissions.

Source: Environment Maryland
Writer: Walaika Haskins


Job diversity helped keep job losses low in MD

According to Economy.com Maryland's economic diversity has been a saving grace and is responsible for its recent superior economic performance compared to the rest of the nation. Job loss patterns from the past year show that diversity has helped protect the state from the worst of the housing crisis. While Maryland lost just 1.2 non-construction jobs for every construction job lost in the state, nationally, the lose was 4.4 non-construction jobs for every construction job.

Roughly 45% of Maryland's total job loss in the past year has been in construction, despite Maryland's rate of construction job loss over that time (16%) has been comparable to the U.S. rate of construction job loss (15%). That means that Maryland's non-construction economic activities made it through the housing crisis better than the nation and that the State's economy hasn't been as dependent on the housing sector as the rest of the nation.

The September 2009 Economy.com analysis of the Maryland economy details why it believes that the state will recover from the recession more rapidly than the U.S. as a whole. The analysis also highlights the part that federal payrolls, federal contracting of private companies and grants garnered by locally based research universities, such as Johns Hopkins, have played in stabilizing the state economy and keeping it from going under and concludes that these forces will help the State on the road to recovery.


Source: Economy.com/DBED
Writer: Walaika Haskins

Piedmont Wine Trail spotlights MD wineries

The Maryland Wineries Association and the Maryland Department of Agriculture have launched a new initiative intended to put Maryland's burgeoning wine industry in the spotlight. The new Piedmont Wine Trail will take wine lovers on a trip through the state's rolling hills, historic towns, and thoroughbred horse farms as it meanders through eight wineries in Baltimore and Harford counties.

"The Piedmont Wine Trail represents a true partnership, offering visitors a taste of our region," says Baltimore County Executive Jim Smith. "This area is home to many award-winning wines. We are especially proud to be home to Boordy Vineyards, Maryland's oldest winery, founded in 1945."

The local movement will thrive along the Piedmont Wine Trail where visitors will have the opportunity to tour the wineries, taste the wines, meet the winemakers, and enjoy special events and concerts. The trail was also designed to educate consumers on the variety and quality of wines at Baltimore and Harford County wineries.

"There is so much to do in Baltimore County, especially for the visitor interested in a local and authentic experience," said Jill Feinberg, conference and tourism director for Baltimore County. "After visiting a winery, the visitor might shop for crafts at a local artisan's shop, eat lunch at a nearby restaurant, or consider an overnight stay at an area inn."

The Piedmont Wine Trail wineries are:

Source: Jill Feinberg, Baltimore County
Writer: Walaika Haskins


UMBC expands Smog Blog

The University of Maryland, Baltimore County's (UMBC) innovative "Smog Blog" air quality tracking web site helped launch a spin-off Central American air pollution blog based in Panama.

The U.S. Smog Blog, now in its sixth year, and new Panamanian SERVIR blog offer realtime analysis and an extensive archive of satellite imagery and air quality data for scientists. They enable scientist to communicate instantly about important pollution events. SERVIR was created in partnership with UMBC, NASA, the U.S. Agency for International Development (USAID) and the U.S. Environmental Protection Agency (USEPA).

Smog Blog entries for each site are result of analysis by UBMC's science faculty and students and their respective counterparts at the University of Panama in Panama City and Battelle Memorial Institute. They examine incoming data from satellite sensors and combine it with information from ground-based monitoring statons. The bloggers then post the images and daily entries, creating a "one-stop shopping" for information on air pollution in North America and across the globe.

Source: UMBC
Writer: Walaika Haskins


MD, CA team to bring more loot for stem cell research

Although some 3,000 miles seperates the two states, representatives from stem cell agencies in Maryland and California will partner to collaborate on research and pursue grant funding from state and federal sources. The goal is to boost each state's ability to compete with other leading states for research personnel and their grants.

Signed during the 2009 World Stem Cell Summit held in Baltimore last week, the next step for the new partners will be to form teams to that will jointy apply for funding on a national level from the the Nation Institute of Health and also on the state level.

The agreement marks the first time a state stem cell agency has formed such a partnership with CIRM. Maryland and California

Source: World Stem Cell Summit
Writer: Walaika Haskins


City teams with Harbor East employers to ease traffic congestion

Baltimore city  has teamed with business leaders on an initiativefrom the Waterfront Partnership of Baltimore to promote alternative forms of transportation for employees in Harbor East and other waterfront areas. The goal is to ease traffic congestion, employee commute time and pollution.

"From the Charm City Circulator and the Light Rail to vanpooling and bike riding, Baltimore employees have tons of options for their commute to work," says Laurie Schwartz of the Waterfront Partnership. "The goal of this initiative is to help educate area employees about what's out there and why this is beneficial for everyone!"

The new Transportation Mangement Association in the Harbor East area is made up of area employers who have joined to educate their employees that there are other ways to get from home to work without driving their cars.

"Harbor East is probably one of the most congested areas in the city. And we're trying to get people to walk, bike, carpool, or use transit, including the new water taxi,  to get to work," says Jamie Kendrick, deputy director of the city's Department of Transportation.

Source: Jamie Kendrick, Baltimore City Department of Transportation
Writer: Walaika Haskins

State job growth still outpacing nation

The State's job growth continues to outperform the nation, with a job loss of 2.5% over the course of the past year, compared to 4.4% for the nation. On a seasonally adjusted basis, Maryland lost 12,000 nonfarm payroll jobs in August compared to July. In the 22 months since the recession began, only two months have seen more jobs lost in Maryland.

In spite of the significant August job losses, the State continues to outperform the nation and its most significant competitor states (Delaware, the District of Columbia, New Jersey, New York, North Carolina, Pennsylvania and Virginia) in aggregate in long-term job growth. [Table 4] shows that during the past year, Maryland nonfarm employment fell by 2.5% in the past year, compared to 4.4% nationwide and 3.0% for the competitor states in aggregate. Maryland's 2.5% rate of overall employment loss ranks the State 10th among the 50 states and the District of Columbia. The industrial sectors where the State outperformed by the most substantial margin were Professional and Business Services, Manufacturing, Educational & Health Care & Social Assistance services and Government.

MD Biotechnology Center opens its doors

The Maryland Biotechnology Center opened its Baltimore office at the World Trade Center last week. The Center, part of the Governor's BioMaryland 2020 plan, serves as a sort of "one stop" portal to the state's vast array of programs, resources and information on the burgeoning bioscience industry. The Center is co-located at the Shady Grove Innovation Center in Rockville. 

"The Maryland Biotechnology Center will bring together, for the first time, all of Maryland's unparalleled bioscience assets and resources under one umbrella, making it easier for companies to access our programs and help commercialize some of the great technology coming out of our labs," says Governor Martin O'Malley. "The Center is the first key deliverable of our BioMaryland 2020 plan, and I look forward to working with the Maryland Life Sciences Advisory Board members to move forward on other recommendations that will keep Maryland at the forefront of this life-saving industry."

Using $5 million in state funds, the Center will help fledgling biotech companies he Center will include information and guidance on business strategies and development, access to capital, technology transfer and commercialization, grants, workforce development and training and federal resources. .

Gov.  O'Malley announced the formation of the new biotech center in May, calling it an essential component to the state's decade long, $1.3 billion strategy to strengthen and grow the $29 billion biosciences sector. The state will alsoadd $18 million in funding for the biotechnology tax credit taking it from $6 million to $24 million and increasing funding for the Maryland Venture Fund to $24 million from $2 million.

Over the years, strategic investments have helped Maryland's bioscience industry grow into one of the world's largest bioscience research complexes, known for its wealth of federal facilities, institutions of higher learning and concentration of highly trained bioscience researchers. From 2001 to 2006, the State's bioscience industry grew by nearly 15 percent, adding 3,200 jobs to top more than 25,000 bioscience jobs in Maryland.

From 2002 to 2007, Maryland's university bioscience research grew 44 percent from $877,000 to $1.3 billion. Today, the state's bioscience research complex is estimated to receive some $8 billion in R & D expenditures annually, putting it just behind California and New Jersey, in third place.

Source: Gov. Martin O'Malley, DBED
Writer: Walaika Haskins


Pre-recession job levels return to city by 2012

Although there are increasing signs that the economy is on the verge of a recovery, a recent report from IHS Global Insight says it that a job recovery is still  years away for most of the nation's metropolitan areas. Of the 363 metropolitan areas in the country, most areas will slowly begin increasing employment again in 2010, with only 118 metros rising to the 1,000-job mark next year.

More substantial job growth won't come to the majority of the country until 2011, according to the report.

The slow recovery means it will be well into next decade before most areas regain the jobs lost during this recession. However, Baltimore should see its job recovery reach pre-recession levels by 2012 just one year later than Washington, D.C.

Source: IHS Global Insight
Writer: Walaika Haskins


State releases new freight plan

The Maryland Department of Transportation released its first statewide freight plan last week. The plan outlines more than 100 port, highway and rail improvement projects totaling more than $35 billion that the MDOT says will be needed to handle the estimated 75 percent increase in shipping traffic coming in, going out and around Maryland by 2030.

The plan provides no details on the individual costs of each projects,or how the state will fund them. 

"Whether you buy locally or ship globally, improved freight mobility is key to minimizing cost, improving competiveness, and managing the carbon footprint of our goods movement," says Secretary Beverly Swaim-Staley.


Source: Secretary Beverly Swaim-Staley, MDOT
Writer: Walaika Haskins
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