Company Investigates Its Sales Practices

By Mitchell Young

Alexion logo colorNEW HAVEN: Alexion Pharmaceuticals [Nasdaq: Alxn] moved into a new global corporate headquarters in downtown New Haven at the beginning of the year and that was big news for New Haven. The news for Alexion hasnt stopped, however, and although much of it is very good, some recently not quite so much.

In early November, shares were halted in Alexion as the company announced an internal” investigation into some sales practices to determine if they met the  “policies and procedures and the related disclosure and other considerations raised by such practices.”

The company declined to release its 10Q report on time and said that the release would be delayed beyond a few days.

The allegations about the sales practices were raised by a former employee of the company involving the company’s flagship Soliris product. Soliris, first approved in 2007 for Paroxysmal Nocturnal Hemoglobinuria [PNH], a rare blood disorder, had annual sales of more than $2.5 billion in 2015.

Soliris has been the basis of the company’s growth and financial strength to date and is now also approved for another rare disease, Atypical Hemolytic-uremic Syndrome, a disease that primarily affects kidney function, causing abnormal blood clots in small blood vessels in the kidneys that may block blood flow.

schelsinger koltan

Koltan Co-founder
Dr. Joseph Schlessinger recently revealed a “breakthrough in underatanding the genetics of uterine and ovarian cancers.”

HAMPTON, N.J.,  NEW HAVEN,- Celldex Therapeutics, Inc. (NASDAQ:CLDX) has entered into a definitive agreement to acquire Kolltan Pharmaceuticals, Inc., a privately owned clinical-stage company focused on the discovery and development focused primarily on drugs to treat Cancer.

Kolltan has previously reported clinical and preclinical data that its drug candidates “can help overcome tumor resistance mechanisms associated with current tyrosine kinase inhibitors and seen in patients who have failed other cancer therapies.”

Kolltan co-founder  Dr. Joseph Schlessinger, is the William H. Prusoff Professor of Pharmacology; Chair, Pharmacology; Co-Director, Cancer Biology Institute at Yale University School of Medicine.. Early this fall Schlesinger’s lab revealed a major breakthrough for ovarian and uterine cancers, defining the genetic landscape of rare, highly aggressive tumors called carcinosarcomas (CSs), pointing the way to possible new treatments.

tevolution lightRevolution Lighting Technologies (NASDAQ: RVLT) was selected as the fastest growing technology company in Connecticut by the Connecticut Technology Council’s Tech Top 40 Awards.

Revolution Lighting provides LED lighting products and has been named as “Program Partners” with Eversource‘s Small Business Energy Advantage Program (SBEA).  

The Energize Connecticut initiative is designed to work with small businesses with a peak energy demand of less than 200kW per month. Incentives available to businesses through the program could cover up to 50% of qualified costs. In 2016, more than $190 million was allocated for Energize CT‘s efficiency programs.

handshakeFARMINGTON: Recruiter.com, an on-line recruiting and career service technology platform which offers recruiters access to a marketplace of fee-based jobs, announced a strategic partnership with Top Recruiter, a leading film production company for the recruitment industry.

Recruiter.com has more than 3 million users and social media followers. Top Recruiter will promote the Recruiter.com Job Market platform to tens of thousands of recruiters through its alliances and partnerships.

engineering 2017University of New Haven’sTagliatela College of Engineering is quickly gaining esteem according to renowned higher education rankings outlet U.S. News and World Report. Just five years ago, the university’s engineering college ranked number 98 out of 198 top spots, but most recently the school has jumped to spot number 55 in the rankings for top undergraduate engineering programs that do not offer a doctorate. These rankings are based on peer assessment surveys.

tech logoCT Tech Council To Announce Fastest Growers

Hartford: The Connecticut Technology Council (CTC) and Marcum LLP announced the 2016 Marcum Tech Top 40, an annual recognition of the “fastest growing” technology companies in Connecticut. Companies in six industry sectors, including Advanced Manufacturing, Energy/Environmental, Life Sciences, New Media/Internet/Telecom, IT Services, and Software.  Companies are both privately and publicly held, and according to CTC “at least $3 million in annual revenue and a demonstrated record of revenue growth in each of the preceding four years.” 

This year, 12 companies are publicly traded and five have reached more than $1 billion in sales. Bruce Carlson, CTC’s President and CEO said, “Connecticut is proud of its remarkable heritage of innovation and entrepreneurship. Employment growth in Connecticut will come in part from the technology.” Achillion Pharmaceuticals, Inc.Alexion Pharmaceuticals Inc.Amphenol Corporation, Cara Therapeutics, Inc.,  Clarity Software Solutions, Inc., Continuity Software, Core Informatics, LLC, Discover Video, Sheffield Pharmaceuticals, LLC. , Square 9 Softworks, Inc. and Z-Medica, LLC are  all local companies that made the initial cutoff. A complete list of companies is available online at www.ct.org.

cttech codelogoFairfield: To boost student software coding skills, the Connecticut Technology Council is running the second annual Skills Challenge.

And for Connecticut technology companies in need of skilled employees, the event is a chance to check out the best talent the state’s colleges and universities have to offer in terms of computer coders.

This past April, the first competition was completed and included contestants from 10 colleges and universities, including the University of New Haven, Quinnipiac University and Southern Connecticut State University.

bigstock Transport icons Car Airplane 109196102New Haven: UberEats a division of the ride sharing service Uber is now providing service in New Haven. The service says that more that more than 40 restaurants in the city are participating Uber for their food to be delivered, including Soul de Cuba, Junzi Kitchen, Tarry Lodge, Chao Restaurant, and Pacifico.

In addition to free delivery on all orders for a limited time to celebrate the launch, New Haveners can also get $10 off their first order using the code CONNEATS

There is of course an app UberEATS which can be downloaded via mobile phone or at  ubereats.com.

Ubereats will be compeering with existing restaurant delivery services. Grubhub.com, foodler.com, ezcater and seamless.com who all also serve the greater New Haven market with food delivery services from local restaurant.

A cropped 1002Bridgeport’s security provider, A+ Technology & Security Solutions has moved it headquarters to Bridgeport. The company’s new “state-of-the-art”  7,000 square foot headquarters features an interactive showroom including LED lighting, integrated solutions representing security, audio visual and also IT technologies. 

A+ Technology & Security Solutions Inc moved from Bay Shore, NY. This security provider has been up and running since 1988. A+ Technology & Security Solutions has a had longstanding connection to Bridgeport, which fueled their decision to move to the city. They earned the 2014 Security Innovations Award-Municipal Sector due to their work as Bridgeport’s security provider. These contributions include higher-education campuses, the city’s K-12 Districts and Pleasure Beach’s security monitoring and surveillance video and security technology. 

temp differenceBy taking wasted heat produced by power plants and industrial sources, researchers at Yale’s Department of Chemical and Environmental Engineering, have established a new technology that can turn this heat into a powerful energy.

There are currently various technologies that are able to reuse high-temperature heat or convert it into electricity. However, the problem lies in successfully and efficiently extracting energy from heat waste that is low-temperature. This is the result of a difference in temperature between the plant’s heat discharge and the environment surrounding it. These conventional systems are also designed to targeting a certain difference in temperature— creating a less effective strategy when there are shifts in the waste heat output.

The key to this new technology is a “nanobubble membrane.” When submerged in water, it traps tiny air bubbles within the pores. When one side of the membrane is heated, this results in water evaporation, traveling across the air gap, and condensing on the other side of the membrane. With this temperature-driven current of water across this membrane, it is directed to a turbine, generating electricity.

Published in the Nature Energy journal online, the research team went on to test this concept. By building a small-scale system, the researchers demonstrated that even with the heat fluctuations and temperature differences as low as 20 degrees Celsius, these nanobubble membranes are able to produce pressurized flows of water and in turn, generate power. This makes it possible to use with the industrial source’s wasted heat.

By also using nanostructure membranes with a surface chemistry, helping to trap the air bubbles, this helped to keep the bubbles contained within pores, especially when large pressure was generated. These membranes are made from “highly hydrophobic (water-repelling) polymer nanofibers.” 

The first author of this study, Anthony Straub said with the important factor of using only water, this technology can exceed others, given its low cost and “environmentally friendly” aspect. 

These researchers are continuing the work on this technology in order to further develop the membranes ability to trap air bubbles and continuing their investigation of large-scale future systems and how these will perform.

CT Based Company Provides Mental Health Technology

Mindyra, a technology based company located in Darien, CT, recently announced a new online platform aimed at reducing the cost of mental health in the workplace. 

This new platform is designed for family doctor assistance and helps to encourage them to better diagnose and treat patients with behavioral and mental health issues. Using either a mobile device or iPad, the system, patent pending, screens the user for dozens of mental health and learning disability conditions. This will then help primary care providers come up with a diagnosis and correct patient treatment plan. It provides ongoing tests for the clinicians and family members to help the patient track how well the treatment is working for them, as well as guidance and test results to guide the physicians in better understanding the patient’s condition and treatment regimens. 

New Haven Parking Upgrades To Second Parking App

The city of New Haven has recently launched its second parking app for city residents. GoNewHaven, available on the iPhone App Store and Android Google Play, helps customers pay for parking quickly, extend a parking session at no charge and keep track of parking history.

The company that designed the app, Passport, is based on Delaware and focuses on transportation industry software. 

This is the second app New Haven has introduced to residents, the first one being Parkmobile. However, the newest app GoNewHaven is specifically for the residents of the city, whereas Parkmobile works in multiple cities across the country. Residents can choose either app and are able to do their parking transactions virtually.

Businesses in the city can also set up their own Passport account, handing out coupons based on the amount of parking spaces they would like to provide. They retain the validation codes, that will either subside some or all of the parking costs.

 

etouches Logo Clear MediumNORWALK: E-touches, an event management software company, has purchased Zentila, a web-based venue sourcing and booking site for corporate event planners. Financial terms of the deal were not disclosed, but the move is to expand E-touches’ footprint in Orlando, Florida. Zentilla “boasts a strong convention-business industry.”