Tag Archive red biotechnology

US biotech companies will pay $2.4 billion to settle charges

September 26, 2021 Comments Off on US biotech companies will pay $2.4 billion to settle charges By admin

The US Department of Justice announced today that a total of six US biotech firms have agreed to pay more than $2 billion to resolve charges that they misappropriated funds.

In a joint statement with the US Department Of Justice, the companies said they would pay $1.9 billion to compensate individuals who were injured, and $2 million to compensate companies that paid for research or development that was improperly performed. 

The settlement is the result of a settlement in which the Department of Labor and the U.S. Securities and Exchange Commission, among others, joined to recover $1 billion from six US biotechnology companies. 

“We believe these companies acted in good faith when they approved these payments to help support biomedical research and development, and we expect they will pay the appropriate penalty as they will have done so as part of a larger settlement,” US Attorney Channing D. Phillips of the Northern District of Texas said in a statement. 

More to come…

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Israeli biotech program, biotechnology, investment boost boost the economy

August 3, 2021 Comments Off on Israeli biotech program, biotechnology, investment boost boost the economy By admin

Israel’s government announced Wednesday that it had raised an undisclosed amount of capital for a biotechnology program that aims to develop the next generation of antibiotics.

The Ministry of Industry and Information Technology (MET) said the program will be headed by Israel’s leading antibiotic company, Biorad, and will be financed by a grant from the United States Agency for International Development.

According to MET, the program is a collaboration between MET, Israel’s national drug agency, and the Israeli government.

MET is the national agency that oversees the production of antibiotics in Israel, and it also oversees the development and use of new drugs.

The grant will support Bioram’s efforts to develop and commercialize new antibiotics for the medical community.

In an interview with The Jerusalem Press, MET head Dr. Yaakov Eitan said the project will be a success.

The program is very important, we hope that it will create new antibiotics that will help us in the fight against disease and infections,” he said.

According in the announcement, the project is intended to create new drugs to combat diseases such as the common cold, pneumonia and urinary tract infections.

MET also said the money raised will go towards supporting research projects in the area of antibiotic production, drug delivery and manufacturing.

The initiative is a step forward for MET, which had been working with Biorar to develop a new antibiotic.

The company previously worked with Israeli pharmaceutical company GSK to develop antibiotics for treatment of the common flu.

In April, MET announced it had signed a $4.5 billion agreement with BOR to develop new antibiotics, but MET and BOR have yet to sign an agreement on production.

MET said BOR is in talks with several companies to develop novel antibiotics, and MET has signed a memorandum of understanding with Bors subsidiary, Mimi-Mobi Pharmaceuticals, for the development of the first batch of antibiotics, which MET said will be made available to BOR and MET.

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White biotechnology has been dubbed the “most exciting” biotech project in the world

July 1, 2021 Comments Off on White biotechnology has been dubbed the “most exciting” biotech project in the world By admin

News.net.au White biotech is poised to take Australia by storm.

The company’s patented “bio-nano” material has been used to manufacture bio-naturals that are now being sold in supermarkets and health foods stores.

The product is made from a mix of plant material and synthetic biology, and can be used to produce plant-based proteins and molecules that can be processed into pharmaceuticals.

Read more “It’s a novel, innovative technology that is unique to Australia, and that’s exciting to think about,” said Professor Robert Schmuel, chief executive of the Australian National University’s Department of Biotechnology.

“This is an area that we haven’t seen before and it has the potential to deliver tremendous value for Australia.”

The Australian Biotechnology and Innovation Commission said it is now reviewing the company’s patents and seeking regulatory approval for the technology.

Biotechnology company Biomaterials, a division of Australia’s largest technology company, BHP Billiton, is the lead investor in Biomatrix.

White biotechnology is poised in Australia.

Photo: Supplied “BHP Billington is very supportive of biotechnology research, which is good for our industry,” Biommatrix chief executive Matthew Goss said.

Goss said Biomitex had received more than $2.2 million in funding and has secured contracts to supply the material.

BHP has not commented on its plans to use Biomitic.

The Biomitrix is a biopolymer made from plant material that was patented by the Australian Biotech and Innovation Commissioner’s Office (ABICO) in December.

It was approved by ABICO in January, but the company did not provide any details on the use of the material for Biomitis.

But the Australian Bioscience Council, the national body representing biotechnology companies, said it was concerned about the potential use of Biomitu.

“[The BiOMitrix] is an important step forward in the development of the biotechnology industry and is a testament to the commitment of Australian scientists and innovators to the country’s growing bio-technologies and biosecurity requirements,” the council’s chief executive, Dr Paul Williams, said.

“It has been proven that this biopolymy material is an excellent alternative to traditional biotechnology materials for manufacturing bio-nanomaterial composites and nanotechnology-based materials for pharmaceuticals, diagnostics and therapeutics.”

The use of this material in biotechnology applications could create a new business opportunity for Australian biotechnology firms, which could generate considerable value for their shareholders.

“Biomitexes biopolymers are made from plants material, a type of synthetic biology.

Photo : SuppliedBiomites patented technology could potentially lead to new ways of manufacturing drugs and other pharmaceuticals using the material and the biopolym.

ABICAO has set a deadline of March for applications for new biotechnology licences.

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