Minnesota plots $20M seed fund, $50M national fund; CMEA's Velocity scooping up portfolio treatments; Janssen partner targets new prostate cancer drug;

 @FierceBiotech: Synthetic compound halts Alzheimer's neurodegeneration in mice. More | Follow @FierceBiotech

 @JohnCFierce: If the court really does scrap off-label rules, I'm sure all the reps will carefully observe all proprieties, stay conservative (oh, yeah). | Follow @JohnCFierce

 @RyanMFierce: Nice analysis on pediatric drug dev. situation in U.S. from Bloomberg. Should industry cure kids first? News | Follow @RyanMFierce

> Officials at the University of Minnesota told healthcare investors that the university plans to launch to new funds next year, a $20 million seed fund and a $50 million venture fund that would pick and choose among companies around the U.S. Story

> The San Francisco Business Times provides an update on Velocity Pharmaceutical Development, CMEA's effort to revive a portfolio of neglected therapies using a super-lean business model. Velocity now has two programs in hand and is trying to land two more before the end of the year, according to CEO David Collier. Collier adds that Velocity also has its eye on several more therapies it would like to lasso in the near future. Story

> Maryland's TEDCO is raising a $50 million seed fund for biotech, energy and security ventures. Report

> Parabon NanoLabs says it won a joint grant award from the National Science Foundation for a project with Janssen Research & Development to support development and testing of a novel therapeutic for prostate cancer. Release

Pharma News

@FiercePharma: Off-label-promos are free speech, the 1st Circuit rules. NYT's take. Story | Follow @FiercePharma

> Should FDA usher old-style opioid generics onto the market? Article

> Pharma can't be prosecuted for off-label marketing, court rules. News

> Generics makers use familiar tactics to fight their own patent cliffs. Report

Medical Device News

 @FierceMedDev: Volcano snags Crux Biomedical for $36M. Story | Follow @FierceMedDev

@MarkHFierce: Sorin gained approval in Japan for a new heart valve--a huge win and market. Release | Follow @MarkHFierce

 @DamianFierce: And there's the biggest deal of the year in devices: Baxter says it's buying Gambro for $4 billion. News | Follow @DamianFierce

> Add 'heart monitor' to the iPhone's many uses. Report

> Merit dives back into M&A with buy of catheter maker. Item

Pharma Manufacturing News

> NextPharma unloads U.S. manufacturing arm, Bioserv. Report

> Sandoz India development center loses in realignment. News

> Protein Sciences takes over fully equipped Wyeth vaccine plant. Story

> Neopharma to produce Merck Serono branded meds in Middle East. Article

Biotech Research News

> Synthetic compound halts Alzheimer's neurodegeneration in mice. More

> MGH/Harvard drug treats Huntington's in 2 mouse studies. Article

> Stem cells from blood may be more patient-friendly. Story

> Amgen antibody combats obesity, diabetes in monkeys. News

And Finally… A scientific team led by Mingjun Zhang, an associate professor of biomedical engineering at the University of Tennessee, Knoxville, says that the fungus Arthrobotrys oligospora could be effective as a cancer fighter. Release


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