News

McMinnville’s Precision Analytical: Testing the Why

McMinnville Economic Development Partnership http://www.mcminnvillebusiness.com/precision-analytical-testing-the-why Imagine working with pee all day. Now imagine loving it. Imagine devoting your life to dried urine because here’s the thing: it can improve people’s lives based on how hormones are relating inside the body. That’s what Mark Newman and his partner Andrew Tyssen set out to do when they began Precision Analytical Inc, a company that promises “simply better testing”. They offer just that with a test utilizing dried urine to reveal more about a patient than was ever available before in one test. “Divine providence”, as Mark Newman put it—that’s what brought Precision Analytical to McMinnville. With family ties and a lab that was being sold as-is, the stars aligned. While working in a lab in Beaverton, Mark Newman stumbled upon the perfect situation, and the idea to start his own lab materialized. Tapping into a Business Oregon (the state’s economic development office) loan program helped Mark and Andy take the leap. Started in 2012 with just a few employees, Precision Analytical now has 36 employees on its staff, including part-time employees and doctors who work remotely. Newman’s brainchild is the DUTCH test, or the “dried urine test for comprehensive hormones”. In endocrinology, [...]

OHSU neuroscientist receives $2.3M award for chronic pain research

Elizabeth Hayes, Staff Reporter, Portland Business Journal An Oregon Health & Science University neuroscientist was awarded $2.3 million in federal funding to further her cutting-edge research into chronic pain. Mary Heinricher will receive the funding from the Jacob Javits Neuroscience Investigator Award over seven years to advance her research into light sensitivity in people with chronic pain and the implications for opioid use.  Read more at bizjournals.com.

Portland diabetes device maker envisions life beyond the pinprick

Elizabeth Hayes, Staff Reporter, Portland Business Journal For people with Type 1 diabetes, the more blood-glucose monitoring they can do, the better. But pricking a finger and drawing blood up to 20 times a day is both painful and inconvenient. Continuous glucose monitoring devices exist currently, but none is noninvasive — they still require a sensor to be inserted under the skin. But what if you could monitor your glucose levels with a wearable device, similar to a watch, 24/7? A Portland startup is charging toward that goal, as are all the large medical device makers.  Read more at bizjournals.com

Portland diagnostics company raises $2M

Elizabeth Hayes, Staff Reporter, Portland Business Journal MolecularMD, a Portland-based diagnostics company, has raised $2 million, according to a filing with the U.S. Securities and Exchange Commission. The company works with academic research centers such as Oregon Health & Science University to license new cancer biomarkers. It also has contracts with all the major global pharmaceutical companies to help bring new drugs through clinical trials and to market. Read more at bizjournals.com

Portland hands-free ultrasound maker nets $2.5M Army contract

Sonivate is hoping the final outcome will save lives on the battlefield. Elizabeth Hayes, Staff Reporter, Portland Business Journal Portland-based Sonivate Inc. received a $2.5 million contract from the U.S. Army to develop a wireless ultrasound system for battlefield use, building on work the company's previous success with a finger-mounted probe. The new contract began about two weeks ago and will span a two-year period, Sonivate President and CEO Jim Hatlan said. He expects to be near a demonstration of proof of concept leading to initial production by next January. Read more at bizjournals.com

Large Capital Infusion and Acquisition Makes New Oregon Bio Company Part of Huge Cure-Focused Portfolio

JOINT ANNOUNCEMENT FOR IMMEDIATE RELEASE – January 6, 2017 “This is the story about all the right elements coming together at the right time to show Oregon’s success in growing and accelerating bioscience startups here,” say both the Oregon Bioscience Association and OTRADI Bioscience Incubator leaders. Oregon is home to more than 840 bioscience firms and research institutions. CONTACT: Jennifer Fox., Ph.D., OTRADI Executive Director, (503) 753-8966 Denise McCarty, Executive Director, Oregon Bio, (503) 548-4432 Dianne Danowski Smith, Board member, (503) 201-7019, @OregonBio (Portland, Ore.) - Oregon’s biotech sector has again landed in merger and acquisition territory. Launching to “develop cures, treatments and preventions for challenging infectious diseases” Vir Biotechnology Inc. launched today announcing it is acquiring Portland, Ore.-based TomegaVax Inc., a startup company housed in the bioscience incubator at the Oregon Translational Research and Development Institute (OTRADI). “This is one of Oregon’s biggest biotech stories to date,” said Denise McCarty, Oregon Bioscience Association’s executive director. “With the millions of dollars in capital infusion from ARCH Venture Partners and a lead investment from the Bill & Melinda Gates Foundation, today’s announcement showcases the attractiveness of Oregon’s biotech ecosystem for early and growth stage companies.” ARCH and investors are pouring $150 [...]

Oregon health care startups raised $11M in 2016 VC

Elizabeth Hayes, Staff Reporter, Portland Business Journal Last year, five Oregon healthcare companies, including two Oregon Bio member companies: Nemametrix and RevMedx, raised more than $11 million in venture capital. Read more at bizjournals.com.

Oregon Bio Launches Search for Executive Director

Press Release The Oregon Bioscience Association (Oregon Bio), Oregon's only trade association that advances the creation and advancement of biotechnology and the life sciences, has launched its Executive Director search. Oregon Bio is the leading voice for Oregon's bioscience industry. Our mission is to cultivate a thriving bioscience ecosystem in Oregon. We achieve this mission through advocacy, member support, energizing business formation and expansion, targeted workforce training and networking. Our members include a broad range of organizations and entrepreneurs involved in research, commercialization and advanced manufacturing of life science technologies. The successful candidate for this high-profile position will be well versed in the strategy and objectives needed to create ongoing economic opportunities for Oregon's 800-plus life science companies and service providers. These comprise device and pharmaceutical manufacturers, biotech firms, bio-agricultural and environmental firms, and channel vendors, as well as the state's universities, hospitals, and research institutions. Oregon Bio’s board and community members serve on the search committee, which is tasked with identifying established, regional leaders with strengths in fiscal management and operations; regional economic development policy and advocacy; membership acquisition and maintenance; and program management. Inquiries and resumes can be sent to exec_recruit@oregonbio.org. Job Description Press Release