Spotlight On... Microsoft co-founder Paul Allen launches $100M bioscience fund; Frazier gathers $525M for buyout fund; Vitae raises $35M; and more...

Paul Allen

The Paul G. Allen Frontiers Group has officially launched today as the life sciences funding arm of the Allen Institute. The Group, headquartered in Seattle, WA, has been set up by multimillionaire Microsoft ($MSFT) co-founder Paul Allen with an initial $100M funding pot. The Group will work with scientists, visionaries and innovators around the world through external listening tours, workshops, symposia and major events. The first round of funded projects begins with four new "Allen Distinguished Investigators" and two inaugural "Allen Discovery Centers" (ADC). These ADCs are a new type of center for research in partnership with major research organizations and universities, including Tufts University and Stanford University. The Frontiers Group will typically provide $20 million over 8 years with $10 million in partner leverage, for a total scope of $30 million each. More from The Seattle Times

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@JohnCFierce: Bayer looks to protect blockbuster Eylea franchise with $130M Regeneron pact. News | Follow @JohnCFierce

> Frazier Healthcare Partners has gathered $525 million for its acquisition effort aimed at profitable healthcare companies. Frazier Healthcare Growth Buyout Fund VIII will steer clear of the R&D investments targeted by the venture investors, sticking with profitable companies in the "lower middle market." Release

> Vitae Pharmaceuticals has priced an offering of 5,833,333 shares of its common stock at $6 per share, raising $35 million for its work. Release

Medical Device News

@FierceMedDev: Dx Digest: Quanterix reels in $46M for international expansion and more. More | Follow @FierceMedDev

@VarunSaxena2: ICYMI yesterday: Medtronic to stop manufacturing some devices in Colorado in pursuit of $850M in promised synergies. Article | Follow @VarunSaxena2

@EmilyWFierce: ICYMI from FiercePharma: NICE gives initial thumbs-down to Vertex's CF combo med Orkambi, citing costs. Story | Follow @EmilyWFierce

> Medtronic to stop manufacturing some devices in Colorado in pursuit of $850M in promised synergies. Story

Pharma News

@FiercePharma: Roslin turns to business with new animal health venture. FierceAnimalHealth article | Follow @FiercePharma

@CarlyHFierce: Lilly's new psoriasis med Taltz sets up head-to-head with Novartis' Cosentyx. More from FiercePharmaMarketing | Follow @CarlyHFierce

> With Cinqair nod, Teva squares off with GSK in severe asthma. News

> Novartis wraps up China bribery probe with $25M payment to SEC. Report

> GSK chief Witty may be leaving, but he hopes his strategy sticks around. Article

CRO News

> Global CRO market expected to rocket to $59B by 2020. Story

> NovAliX signs EM-based analysis deal with FEI. More

> Precision for Medicine broadens cancer trial offering with ACT Oncology buy. Report

> Quintiles, Mitsui and investors pay toward a new $866M development fund. Story

> BioPharmaSpec plots Asian expansion with a focus on biosimilars. Article

Pharma Manufacturing News

> Seqirus reviews its manpower needs as it integrates Novartis flu operations. Article

> Vetter's building binge continues with ground-breaking for another Schuetzenstrasse facility. More

> China, in typical fashion, arrests dozens as drug oversight draws attention. Story

> First FDA-approved 3-D manufactured drug hits the market. Item

> Cadila faces new regulatory problems as WHO piles on the pain. More

Pharma Asia News

> Zhejiang Medicine at work with Ambrx on PhI breast cancer candidate. Story

> Ally Bridge keeps cash flowing in $155M private placement in Tesaro. Report

> Taiwan's OBI trial results dispute snares top science research executive. More

> Novartis settlement with U.S. SEC on China bribes one in a string. Story

> China in overdrive on illegal vaccine sales probe. Article

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