WALLINGFORD — Biomedical company CyVek has received a $445,683 grant from Connecticut Innovations Inc. (CII) to continue development of a blood testing platform.
CyVek’s patent-pending system will allow for simultaneous measurement of multiple markers in blood samples; a device that could be useful in determining drug doses for patients.
The CyVek system will consist of an instrument with disposable cartridges, which will measure proteins in blood and other bodily fluids, which would reflect the presence or severity of a disease.
CII awarded the grant through its Eli Whitney Fund as part of $3 million series C round of funding. CII invested $802,500 in the company in 2010.
NEW HAVEN — Biotechs Axerion Therapeutics and MedImmune have joined forces to research and develop a commercial treatment for Alzheimer’s disease.
MedImmune is the Maryland-based biologics arm of AstraZeneca, The agreement with Axerion is the first collaboration with AstraZeneca’s new Neuroscience Innovative Medicines Unit. Axerion has granted an exclusive sublicense to the company to investigate and commercialize a biological approach to binding A-beta oligimers to prion proteins. In return Axerion will receive upfront and milestone payments, plus research and development funding, as well as royalties on product sales.
STORRS — It looks like there will be a different set of wings over Storrs.
The University of Connecticut was granted authority by the Federal Aviation Administration (FAA) to fly drone aircraft at the school’s campus.
The school’s mechanical engineering department says the authority was granted to build a self-flying helicopter so the United Technologies Research Center can conduct research.
The project involves using a large hobbyist remote control helicopter called the Maxi Joker 3, and will guide research into the development of autonomous navigation and guidance systems.
Project investigator Chengyu Cao says similar work is being done at other universities, including Virginia Tech.
UConn is one of 63 sites authorized to fly drone aircraft in the U.S., 25 of which are also institutions of higher education, though school officials had to dismiss the notion that the FBI would be using UConn to fly surveillance drones.
The project has not yet been funded, and no flights have taken place.
ROCKY HILL — Tech innovation hub Connecticut Innovations Inc. (CII) hopes to bolster state students’ technology skills for the workforce.
CII is launching the Technology Talent Bridge Program, an initiative to provide learning activity experiences for Connecticut college students (those at least studying for bachelors degrees) through mentored internships at small, technology-based businesses in the state.
The program is designed to ease students’ path to finding jobs post-college, and to keep graduates in the state by linking them with local companies. CII hopes the program will also strengthen school curricula by building industry skills, and stimulate job creation.
Eligible companies must present a student or team of participating students a project involving a technology problem that must be solved within three to nine months. The inaugural internships are set to begin at the end of summer 2012 and continue into the fall and winter months.
Participating companies will be eligible for grants of up to $25,000 for intern compensation.
NEW HAVEN — The Connecticut Spanish American Merchants Association (SAMA) is getting a boost to its computer-training program, thanks to First Niagara Bank.
The bank has awarded SAMA a $150,000 grant over three years to support its Empresario Computer Training Program at its offices in New Haven, Hartford and Willimantic. The program will give low- and moderate-income businesses and start-ups instruction in several Microsoft software programs, as well as in Quickbooks accounting software.
Each session will last ten weeks, with 30 hours of training per student, and will cap at 20 students per class. The program is offered twice a year.
The Empresario program was started in 1999 as part of the Empresario Development Center, which focuses on providing small-business owners and entrepreneurs, their family members and employees with education in management, finances, human resources, technology, health and safety.
More information can be found at samact.org.
FARMINGTON — Medical tech company Innovatient Solutions has received a $500,000 grant from Connecticut Innovations Inc. (CII) to continue developing an information system for patients.
The nVision Information Therapy Solution utilizes the television in a patient’s hospital room as a portal to connect with informational resources as well as with games, videos and the Internet.
The system allows patients to connect with health-care providers, clinical teams and family members to assist in the recovery process. The system also has the capability to interface with other hospital systems and medical records.
CII made an initial $500,000 investment in the company in 2011. The latest is part of a $2 million extended round of funding from CII and angel investors.
WALLINGFORD — Biotech company CyVek Inc. has received $3 million in funding for its drug discovery research.
The company is developing a testing system for performing bioassays, molecular diagnostics, and immunodiagnostics in drug discovery and point-of-care applications.
Founded in 2010, CyVek received $4 million in funding two years ago, which included a $802,000 grant from Connecticut Innovations Inc.
ROCKY HILL — Connecticut Innovations Inc. (CII) has ventured into the mobile arena by releasing its own smart phone application, CT iHUB Mobile.
The app allows members of Connecticut’s innovation community to connect with each other through posting comments and photos, as well as provides access to CT iHUB’s public content and private collaboration areas, and news postings via iNEWS, a daily updated stream of Connecticut-based innovation news.
The app can be downloaded for free for the iPhone and iPad via the iTunes store.
NEW HAVEN — Antibiotics developer BioRelix received a $269,160 follow-on investment from Connecticut Innovations Inc. (CII) for continued research.
The company is developing antibiotics using a new riboswitch-based drug discovery platform. Riboswitches are short stretches of mRNA that bind molecules and control genes essential for the survival of many human pathogens. The method was discovered in the laboratory by Yale biology professor Ronald R. Breaker.
The BioRelix team includes former Yale and Bayer Pharmaceuticals scientists, and has secured technology licenses from Yale. The company last received $500,000 from CII in December. The latest round comes from CII’s Eli Whitney Fund and is part of a $2.5 million funding round.
ROWAYTON — Medical technology company Next Health, LLC, has received $100,000 of a $1.2 million round of funding to advance a system designed to help bedridden patients move from bed to wheelchair.
The latest funding round came from a single investor. The company’s last funding round of $3 million was given in 2010.
The AgileLife system is combination medical bed and wheelchair. The company hopes to make the system available to users this August through the state’s Department of Social Services, with the product going on sale in October.
Next Health will focus initial sales efforts on the Northeast region and the military.
ORANGE — Tangoe Inc., a provider of communications lifecycle management software and related services, on March 29 announced the pricing of a registered public offering of an aggregate of 8,000,000 shares of common stock at a price to the public of $18.50 per share. Of the shares in the offering, 2,200,000 shares are being offered by Tangoe, and 5,800,000 shares are being offered by selling stockholders. In addition, the selling stockholders have granted the underwriters a 30-day option to purchase up to 1,200,000 additional shares at the public offering price. Tangoe will not receive any proceeds from the sale of shares by the selling stockholders.
Deutsche Bank Securities, Barclays, and Stifel Nicolaus Weisel are acting as joint book-running managers for the offering. Lazard Capital Markets is acting as co-manager. Tangoe trades on the NASDAQ exchange under the ticker symbol TNGO.