University financing – CEC UGC http://cec-ugc.org/ Thu, 12 May 2022 03:35:41 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://cec-ugc.org/wp-content/uploads/2021/05/default-150x150.png University financing – CEC UGC http://cec-ugc.org/ 32 32 15 Chinese companies to watch in April 2022 https://cec-ugc.org/15-chinese-companies-to-watch-in-april-2022/ Thu, 12 May 2022 03:03:59 +0000 https://cec-ugc.org/15-chinese-companies-to-watch-in-april-2022/ Editor’s Note: At EqualOcean, we have been tracking major funding rounds or industry events that took place in China’s healthcare sector in April 2022. And the following is a list of deals that we have selected for you, based on a number of criteria, including the amount of funding. , funders and segments in which […]]]>

Editor’s Note: At EqualOcean, we have been tracking major funding rounds or industry events that took place in China’s healthcare sector in April 2022. And the following is a list of deals that we have selected for you, based on a number of criteria, including the amount of funding. , funders and segments in which startups operate.

Ammunition

Ammunition Life Technology (Chinese: 艾米森), a high-tech healthcare company, raised more than 100 million yuan ($15.12 million) in a Series C funding round from CCB International, Wuhan Hi-Tech, Sanya Xuanpan and other investors in late April. It was founded in 2015 and focuses on non-invasive screening and early detection of high incidence malignancies.

TG Immune Pharma

TG Immune Pharma (Chinese: 天港免疫) completed its pre-Series A funding round worth more than CNY 100 million (USD 15.12 million) at the end of April. Castar and Innoval Capital were the co-investors, followed by Hefei Industry Investment Group, Efung Capital, Tiantu Capital, Guoyuan Innovation Investment and other investors. A quasi-unicorn company in cancer immunotherapy, TG Immune Pharma strives to develop its capacity for original innovation.

Lingfu’s bio

Lingfu Bio (Chinese: 灵赋生物) received more than 200 million CNY (30.24 million USD) on April 25 from investors such as China Life Equity Investment and Legend Capital. Other investors like Chang Development, Puhua Capital and Safe Pharmaceutical were also involved. The company has already pocketed nearly 50 million yuan in its angel funding round. Co-incubated by several well-known companies and expert teams in the laboratory animal industry in 2021, Lingfu Biotechnology aims to become the leading scientific research service provider in China.

bostal

Bostal (Chinese: 玻思韬) completed in mid-April a Series B1 financing round of more than CNY 100 million (USD 15.12 million) led by Huatai Trust Fund under Huatai Zijin Investment, with the participation of Chuangyu Ming’an Fund, Zhongfu Yide Fund and Jet Biofil. Founded in 2013, Bostal is a high-tech pharmaceutical company focusing on the R&D of international pharmaceutical preparations and new technology of controlled release drug delivery system.

Biosurfing

Biosurf (Chinese: 百赛飞), a developer of functional bio-coatings, raised over CNY100 million (USD 15.12 million) in Series B funding round from Huatai Zijin Investment, Guoqian Venture , HYView Group, Science and Innovation Fund of Suzhou Industrial Park and other investors on April 15. The former shareholder, Essence Capital, increased its equity. Biosurf was founded in 2017 and has established the first professional technical service platform covering the whole industrial chain of functional biological coating in China.

Baylx Biotechnology

Baylx Biotechnology (Chinese: 贝来生物) completed Series B and Series B+ financing rounds for a combined amount of CNY 300 million (USD 45.36 million) on April 15. The Series B round was jointly led by SDIC Venture Capital and Detong Capital, followed by New Hope Industry Investment. The Series B+ round was led by Huajin Capital, followed by existing shareholders SDIC Venture Capital and New Hope Industry Investment. Founded in 2015, Baylx is a national high-tech enterprise dedicated to stem cell and regenerative medicine research, new stem cell drug R&D and clinical transformation.

Synthgene Biotechnology

Synthgene Biotechnology (Chinese: 申基生物) completed a Series A+ funding round in early April. This financing round was led jointly by Lake Bleu Capital and LYFE Capital. Existing shareholders Sherpa Healthcare Partners and Legend Star continued their additional investments. Previously, the Series A1 funding round was jointly invested by Swiss China Corp, Sherpa Healthcare Partners and Legend Star. The two rounds of financing have accumulated over 300 million CNY (45.36 million USD). Founded in 2018, Synthgene biotech focuses on the supply of raw materials used in the upstream part of life sciences.

raymonpharma

Raymonpharma (Chinese: 锐明新药), an ophthalmic drug developer, closed its Series B funding round worth over CNY 100 million (USD 15.12 million) on April 6. This round was led by the CR-CP Life Science Fund and backed by Jinding Capital. Raymonpharma is committed to innovative small molecule ophthalmic drugs.

Arthur Group

Arthur Group (Chinese: 亚瑟医药) announced the closing of a Series A funding round of over CNY100 million (USD15.12 million) led by Addor Capital, with participation from Changxing Financial Holding, Jiaxing Science and Technology City Fund, Ruiying Holdings and other private equity funds. Founded in 2020, Arthur Group is an innovative high-tech pharmaceutical technology company focused on the development, production and sale of high-end drugs.

Metis

METiS (Chinese: 剂泰医药), an AI drug and delivery systems developer, raised $150 million in two rounds of funding on April 6 from PICC Capital and China Life Private Equity Investment, with the participation from Sequoia China, 5Y Capital, CMB International, Lightspeed China Partners, Monolith, Frees Fund and other investors. Founded in 2020 and incubated by XtalPi (Chinese: 晶泰科技), a technology-driven drugmaker, METiS has completed five rounds of financing.

Reliable medical

Reliable Med (Chinese: 瑞莱普) entered its Series A2 funding round of 100 million CNY (15.12 million USD) from CITIC PE Fund and Morning Spring Venture on April 1. Existing backers Legend Capital and Chende Capital made follow-on investments. Founded in 2019, Reliable Med is committed to promoting the implementation of innovative sensing applications based on mass spectrometry technology.

CATUG Biotechnology

CATUG Biotechnology (Chinese: 楷拓生物) raised tens of millions of dollars in a Series A funding round on April 25 from Genesis Capital, InnoVision Capital, Oriza Holdings, Lanhu Capital, Tsing Song Capital and Northern Light Venture Capital. The funds will be used to build a plasmid and mRNA industrialization base and a new technology R&D platform, and to continuously improve the capacity and scale of the one-stop service platform CDMO (Contract Design & Manufacture Organization).

Clinical Research Elixir

Contract research organization Elixir Clinical Research (Chinese: 圣方医药研发) closed its Series A funding round worth $52 million on April 22. This funding round was jointly invested by LYFE Capital, Sinovation Ventures and Chow Tai Fook.

MoleculeSpirit

AI protein design platform MoleculeMind (Chinese: 分子之心) closed an angel funding round for tens of millions of dollars on April 18. This funding round is led by Sequoia China, with participation from Baidu Ventures, Life Science Park Innovation Fund, Neux Capital Fund and Innovation Future. The company was started by Professor Xu Jinbo who worked for the Toyota Technological Institute in Chicago. He was also an assistant professor at the Computation Institute at the University of Chicago as well as a visiting professor at the Biomedical Pioneering Innovation Center at Peking University.

Therapeutic LTZ

LTZ Therapeutics (Chinese: 泽安生物医药) closed a $17 million pre-Series A funding round on April 7 led by Xianfeng Cowin Investment, followed by Qiming Venture Partners and Tigermed. LTZ is a biotechnology company specializing in immunotherapy and was co-founded by three pioneers in the development of new drugs, Dr. Robert Li, Dr. Martin Treder and Dr. Zhou Jianhui.

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City Council allocates remaining $27 million in ARPA funds | News https://cec-ugc.org/city-council-allocates-remaining-27-million-in-arpa-funds-news/ Tue, 10 May 2022 02:15:00 +0000 https://cec-ugc.org/city-council-allocates-remaining-27-million-in-arpa-funds-news/ Country united states of americaUS Virgin IslandsU.S. Minor Outlying IslandsCanadaMexico, United Mexican StatesBahamas, Commonwealth ofCuba, Republic ofDominican RepublicHaiti, Republic ofJamaicaAfghanistanAlbania, People’s Socialist Republic ofAlgeria, People’s Democratic Republic ofAmerican SamoaAndorra, Principality ofAngola, Republic ofAnguillaAntarctica (the territory south of 60 degrees S)Antigua and BarbudaArgentina, Argentine RepublicArmeniaArubaAustralia, Commonwealth ofAustria, Republic ofAzerbaijan, Republic ofBahrain, Kingdom ofBangladesh, People’s Republic ofBarbadosBelarusBelgium, […]]]>

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CFA Institute calls for stricter disclosure rules for Spac sponsors https://cec-ugc.org/cfa-institute-calls-for-stricter-disclosure-rules-for-spac-sponsors/ Sun, 08 May 2022 10:00:34 +0000 https://cec-ugc.org/cfa-institute-calls-for-stricter-disclosure-rules-for-spac-sponsors/ The investment industry trade body is urging regulators to toughen disclosure requirements for Spac sponsors to make blank check companies more transparent. The CFA Institute recommends that Spac sponsors fully disclose any affiliations with target investors and companies, as well as the existence of side agreements with lead investors or Pipes. The recommendations come in […]]]>

The investment industry trade body is urging regulators to toughen disclosure requirements for Spac sponsors to make blank check companies more transparent.

The CFA Institute recommends that Spac sponsors fully disclose any affiliations with target investors and companies, as well as the existence of side agreements with lead investors or Pipes. The recommendations come in a report soon to be published and seen by the FT.

Improving sponsor disclosures is one of seven recommendations made by the organization which is best known for overseeing popular tests to become a chartered financial analyst, and comes after the SEC outlined Spacs sweeping reforms in March . The CFA’s recommendation on sponsors goes further than the regulator’s proposals by requesting more detailed information from Spac executives.

Amy Borrus, executive director of the Council of Institutional Investors and a member of the CFA’s Spac working group, said enhanced disclosures are important “because of the opacity of so many Spacs and the potential for conflicts of interest.”

“There are a lot of details that investors need that they’re not getting from Spacs now,” she added.

The CFA is also urging the regulator to consider whether further rules are needed to tackle Spac insider trading. “The high potential for rumors and ‘priming the pump’ type communications on various social media channels is of particular concern,” the report said.

Special purpose acquisition companies rose in popularity during the height of the coronavirus pandemic and have become Wall Street’s most sought-after investment product. Sponsors raise funds from investors and publicly list the vehicles as a cash shell before seeking a private company to take public through a merger.

Spac’s boom has since died down as investors soured on investment vehicles after a series of scandals, poorly performing deals and increased regulatory scrutiny. Global market volatility caused by rising interest rates and the war in Ukraine has also led investors to shy away from growth companies that are typically listed via a Spac merger.

According to data from Dealogic, more Spac listings have been withdrawn in the past two months than there have been new listings, showing just how far out of favor investment vehicles have fallen.

Pipe’s crucial financing market also dried up and negotiators were forced to soften the terms on offer or seek more expensive financing. The pipes, or private equity investments, help raise additional funds and provide a stamp of approval for companies in Spac mergers.

The SEC’s proposed reforms, which were outlined in March, include stripping Spacs of legal safeguards that have allowed sponsors to present optimistic revenue projections to potential investors and requiring banks entering into deals to be potentially liable for inaccuracies. The proposals are subject to public comment, after which the regulator will decide whether or not to adopt them.

“Sponsors frequently enter into side deals to induce certain hedge funds not to buy back, or give shares at discounted prices to Pipe investors,” said Jay Ritter, a Cordell professor of finance at the University of Florida and a member of the group. of work.

“These types of side payments aren’t always transparent and I definitely support the idea that there should be more disclosure there,” he added.

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Political leaders: Federal policymakers must prepare for the end of the public health emergency https://cec-ugc.org/political-leaders-federal-policymakers-must-prepare-for-the-end-of-the-public-health-emergency/ Fri, 06 May 2022 02:09:59 +0000 https://cec-ugc.org/political-leaders-federal-policymakers-must-prepare-for-the-end-of-the-public-health-emergency/ Two health policy officials are calling on federal health policymakers to think strategically about how to protect Americans who have obtained Medicaid coverage, once the federal public health emergency (PHE) is finally declared over by the federal government. Writing in a blog posted last month on the website of the Commonwealth Fund, the New York-based […]]]>

Two health policy officials are calling on federal health policymakers to think strategically about how to protect Americans who have obtained Medicaid coverage, once the federal public health emergency (PHE) is finally declared over by the federal government.

Writing in a blog posted last month on the website of the Commonwealth Fund, the New York-based public policy foundation, Sabrina Corlette, JD, research professor and health insurance project director at the McCourt’s Health Policy Institute School of Public Policy, and Maanasa Kona, JD, assistant research professor at the Center on Health Insurance Reform, also at Georgetown University’s McCourt School of Public Policy, argue that markets in the Act on Affordable Care (ACA) will serve as an essential safety net for one-third of adults who lose Medicaid coverage after PHE ends.

Corlette and Kona’s blog, published April 26 and titled “Mitigate Loss of Coverage When the Public Health Emergency Ends: The Role of Affordable Care Act Markets,” examines the “complicated application process for move to market coverage” that people who lose Medicaid coverage at the end of PHE, will have to navigate – an application process whose challenges will see many “fall through the cracks” without support.

As Corlette and Kona note, “In January 2020, the federal government declared a public health emergency (PHE) due to the emergence of the COVID-19 virus. The government has extended the PHE nine times since, and it is now due to expire in mid-July 2022. Many may celebrate the symbolic end of the pandemic, but the end of the PHE could significantly reverse recent gains the United States has made. reduce the number of uninsured. While the PHE is in effect, state Medicaid programs receive increased federal funding as long as they do not exclude people from the program. At the end of the PHE, this enhanced federal funding will end and states will resume new eligibility determinations for the more than 78 million people enrolled in Medicaid and Children’s Health Insurance; up to 16 million people are expected to lose their Medicaid coverage as a result.

These people were covered by the Families First Coronavirus Response Act (FFCRA), signed into law on March 18, 2020, which granted states a 6.2% increase in the federal share of Medicaid funding over the term of the PHE. In exchange, states were prohibited from excluding people from the program or limiting their eligibility. Subsequent federal guidelines gave states up to 14 months after the end of PHE to complete necessary Medicaid eligibility reviews and renewals, but they must re-examine each beneficiary’s eligibility.

As the authors of the paper note, “As the end of PHE looms, advocates and government officials are primarily focused on preparing Medicaid agencies, but Affordable Care Act (ACA) markets will serve as essential safety net An estimated one-third of adults who lose Medicaid will be eligible for subsidized coverage in the markets But whether people understand the coverage options available, claim premium tax credits , enroll and ultimately use their new coverage will largely depend on market officials.In most states, once the state Medicaid agency finds that people are no longer eligible, it transfers them to the The market then contacts these people and invites them to complete a Market Plan Application To successfully transition to a new coverage, the consumer must follow a number of steps during a special registration period limited to 60 days.

Importantly, the authors note, “The complexity of the application and registration process can mean consumers fall through the cracks. One study found that only 5% of people who left Medicaid successfully enrolled in market plans. However, several of the 18 state-based marketplaces (SBMs) have integrated their Medicaid and marketplace eligibility and enrollment systems and may be able to provide a more streamlined experience. Markets, both federal and state-run, can play a critical communication role before and after the end of the PHE. Unlike most Medicaid agencies, marketplaces have marketing budgets and work with navigators and brokers who understand how to “sell” the importance of insurance. These resources can be leveraged to educate Medicaid enrollees about the importance of renewing coverage if they are still eligible and can help terminated individuals understand their options in the marketplace. The New York market, for example, is using a PHE-focused communications campaign to help educate Medicaid enrollees on how to maintain coverage.

Corlette and Kona note that there are some variables leading to uncertainty in this situation, primarily the fact that no one knows when PHE will end, and also that “many state Medicaid agencies have not yet decided on the timeline and process by which they resume eligibility reviews and renewals.

The authors advocate: “The end of the public health emergency and the requirement for continued Medicaid coverage pose enormous challenges to federal and state authorities. Historic gains in health insurance coverage could quickly be reversed. However, early planning, coordination between Medicaid and marketplaces, investments in communications and consumer assistance infrastructure, and greater automation of the eligibility and enrollment process could significantly reduce this risk.

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HyPrSpace Raises €1.1M in Seed Funding to Develop Reusable Hybrid Micro-Launcher https://cec-ugc.org/hyprspace-raises-e1-1m-in-seed-funding-to-develop-reusable-hybrid-micro-launcher/ Tue, 03 May 2022 22:44:19 +0000 https://cec-ugc.org/hyprspace-raises-e1-1m-in-seed-funding-to-develop-reusable-hybrid-micro-launcher/ HyPrSpace Raises €1.1M in Seed Funding to Develop Reusable Hybrid Micro-Launcher Press release From: HyPrSpace Posted: Tuesday May 3rd 2022 HyPrSpace, a start-up specializing in the design of space launchers, announces that it has raised 1.1 million euros from the Geodesic fund, the French Tech Seed fund managed on behalf of the State by Bpifrance […]]]>

HyPrSpace Raises €1.1M in Seed Funding to Develop Reusable Hybrid Micro-Launcher

Press release From: HyPrSpace
Posted: Tuesday May 3rd 2022

HyPrSpace, a start-up specializing in the design of space launchers, announces that it has raised 1.1 million euros from the Geodesic fund, the French Tech Seed fund managed on behalf of the State by Bpifrance within the framework of France 2030, and private investors. This funding will allow the startup to strengthen its teams to accelerate the development of its reusable OB-1 launcher, and to offer a fast, economical, sovereign and more environmentally friendly orbiting service!

Founded in 2019 by Alexandre Mangeot, Sylvain Bataillard and Vincent Rocher, HyPrSpace aims to develop a launcher using a propulsion technology facilitating access to space: hybrid propulsion. This technology is reliable, inexpensive and with a lower carbon footprint, but until now it suffered from a technology lock-in that made the engines unusable for launch applications.

HyPrSpace develops an innovative and patented architecture that removes the blockage of hybrid propulsion. This technological breakthrough makes it usable for launchers, which then benefit from the simplicity and reliability of these engines, thus reducing launch costs and access to space. OB-1 is a reusable rocket with hybrid propulsion, which halves the cost of access to space, while reducing the carbon impact of the space industry.

Thanks to this fundraising from Geodesic (future Expansion Ventures), the BPI, and other private investors, the startup aims to strengthen its workforce to continue the development of its micro-launcher.

The propulsion is a hybridization between solid and liquid propulsion, which are propulsion technologies inherited from the Cold War and which are still used on conventional rockets, for lack of anything better.

The objective of this patented technological innovation is to provide a hybrid engine which benefits from the advantages of solid and liquid propulsion without their drawbacks. It will enable HyPrSpace to offer the rapidly expanding microsatellite market simplified access to space at low cost and with reduced environmental impact.

“The technological breakthrough developed by HyPrSpace and its launch capability are essential to the development of the space industry. HyPrSpace is part of Geodesic’s primary investment focus” – Charles Beigbeder, CEO of Geodesic

“This fundraising is the first step towards a micro-launcher that will reduce the cost of access to space, at a time when this need is more vital than ever for France and Europe.” – Sylvain Bataillard, CEO of HyPrSpace

About HyPrSpace

Founded in 2019 by several engineers passionate about space, HyPrSpace is a company developing a micro-launcher capable of putting 250kg of payload into orbit. It uses a hybrid propulsion method that mixes solid and liquid reactants, allowing for a simple and reliable engine. The innovation developed by HyPrSpace has been appraised by the Direction Générale de l’Armement and ONERA. HyPrSpace is already financially supported by CNES, the French space agency, ESA through ESA BIC, DGA and the Nouvelle-Aquitaine region.

He is also a member of Aerospace Valley.

About Geodesic

Geodesic, an investment vehicle for New Space start-ups created in 2021 by Charles Beigbeder, announced on April 13 the co-foundation with the Starburst accelerator of the Expansion fund, with a target size of 300 million euros , with the aim of becoming the leading European fund for financing Aeronautics & Defense start-ups.

About Bpifrance and the French Tech Seed fund

Bpifrance finances companies – at every stage of their development – ​​with loans, guarantees and equity. Bpifrance supports them in their innovation projects and internationally. Bpifrance also ensures their export activity through a wide range of products. Consulting, university, networking and acceleration programs for start-ups, SMEs and ETIs are also part of the offer for entrepreneurs.

Thanks to Bpifrance and its 50 regional departments, entrepreneurs benefit from a close, unique and efficient contact to help them meet their challenges. More information on: www.bpifrance.fr

The French Tech seed fund of 500 million euros aims to support the raising of funds for innovative start-ups and micro-businesses less than 3 years old carrying innovations with high technological intensity. The fund, created by France 2030 and operated by Bpifrance, relies on approved business contributors to identify and qualify these start-ups and put them in contact with private investors. These business contributors, guarantors of the technological validity of the project, will allow public investment in the form of Convertible Bonds of up to 400 million euros, in addition to the capital provided by private investors. An additional €100 million will be dedicated to equity investments in addition to the conversion of Convertible Bonds.

About France 2030

– The France 2030 investment plan: It reflects a dual ambition: to sustainably transform the key sectors of our economy (energy, automotive, aeronautics and space) through technological innovation, and to position France not only as a player, but as a as a leader of the world of tomorrow. From basic research, to the emergence of an idea, through the production of a new product or service, France 2030 supports the entire life cycle of innovation up to its industrialization.

It is unprecedented in its scale: 54 billion euros will be invested so that our companies, universities and research organizations succeed in their transition in these strategic sectors. The challenge is to enable them to respond in a competitive way to the ecological challenges and attractiveness of the world to come, and to train the future leaders of our sectors of excellence. France 2030 is defined by two cross-cutting objectives: devote 50% of its expenditure to the decarbonisation of the economy, and 50% to emerging and innovative players, without spending that is unfavorable to the environment (in the sense of the Do No Significant Harm principle).

Will be implemented collectively: designed and deployed in consultation with economic, academic, local and European players to determine strategic orientations and key actions. Project leaders are invited to submit their application via open, demanding and selective procedures in order to benefit from State support.

The program is managed by the General Secretariat for Investment on behalf of the Prime Minister and implemented by the French Agency for Ecological Transition (ADEME), the National Research Agency (ANR), Bpifrance, Banque public investment fund and the Caisse des dépôts et consignations. (CDC). For more information: www.gouvernement.fr/secretariat-general-pour-l-investissement-sgpi.

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DuraStat® Secures Funding to Reach All Spine Facilities with Flagship Product; Accelerate new products https://cec-ugc.org/durastat-secures-funding-to-reach-all-spine-facilities-with-flagship-product-accelerate-new-products/ Fri, 29 Apr 2022 15:23:00 +0000 https://cec-ugc.org/durastat-secures-funding-to-reach-all-spine-facilities-with-flagship-product-accelerate-new-products/ In the 43 states where DuraStat is currently in use, feedback from surgeons during the early stages of commercialization has been overwhelmingly positive, indicating that the product will soon become a gold standard instrument serving all spine facilities worldwide. world. “Dural repairs, especially those that are unintended, add significant stress and time to surgery and, […]]]>

In the 43 states where DuraStat is currently in use, feedback from surgeons during the early stages of commercialization has been overwhelmingly positive, indicating that the product will soon become a gold standard instrument serving all spine facilities worldwide. world. “Dural repairs, especially those that are unintended, add significant stress and time to surgery and, when performed less than ideally, can cause post-operative problems. DuraStat not only reduces the time repair, but also alleviates that stress by increasing any surgeon’s ability and confidence to treat those repairs.” mentioned Stephen RyuMD, chair of neurosurgery at the Palo Alto Medical Foundation and assistant professor of neurosurgery and electrical engineering at Stanford University. Dr Ryu added “You hope you don’t need DuraStat, but when you do, you’re glad you have it on your shelf.”

The company plans to leverage its expertise and IP portfolio to launch an additional spine product by the end of 2022 with more to come to market throughout 2023. Applications Beyond of the spine will soon follow.

“We believe there are various incarnations of our core technology that can help address unmet clinical needs across many surgical disciplines; the challenges surgeons face on a daily basis that urgently require simple, cost-effective solutions. This funding round provides the resources we need to realize our vision quickly.” mentioned Adam AzaraCEO of DuraStat.

About DuraStat

DuraStat, LLC is a medical device company with a unique approach to precision suturing that enables rapid, atraumatic tissue approximation by eliminating wrist rotation. DuraStat was invented by Greg AndersonMD and Mark Kurd, MD (Thomas Jefferson University and Rothman Institute) and developed for global scalability with Kevin FoleyMD (Semmes-Murphey) and Alex Lukyanov.

The company recently moved to Austin, TX centralize logistical and training efforts in a location accessible to all regions of the United Stateswhile participating in the growing technology development community in the region.

Contact information

[email protected]

SOURCE DuraStat

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Philly close to deal to move history museum to Drexel https://cec-ugc.org/philly-close-to-deal-to-move-history-museum-to-drexel/ Wed, 27 Apr 2022 21:01:39 +0000 https://cec-ugc.org/philly-close-to-deal-to-move-history-museum-to-drexel/ Drexel University’s Derek Gillman, who previously headed the Barnes Foundation and the Pennsylvania Academy of the Fine Arts (PAFA), said a letter of intent had been drafted with PAFA to store the collection in the Hamilton Building at the University. Academy on North Broad Street. Not only will the collection be located within the city […]]]>

Drexel University’s Derek Gillman, who previously headed the Barnes Foundation and the Pennsylvania Academy of the Fine Arts (PAFA), said a letter of intent had been drafted with PAFA to store the collection in the Hamilton Building at the University. Academy on North Broad Street.

Not only will the collection be located within the city limits, but PAFA promises a secure, climate-controlled space.

“Security is what keeps us up at night,” Gillman told the judge. “And the funding.”

“Looks like you don’t get much sleep,” Woods-Skipper said.

“I sleep at night,” he says confidently.

A representative from the state attorney general’s office did not object to the deal.

The Historical Society of Pennsylvania has asked to intervene a second time, appealing a previous refusal. This was again refused.

HSP President David Brigham had sent a letter to the judge with concerns about items on loan to institutions – such as schools or libraries – that are not equipped to safely handle delicate historical artifacts.

In response to the booth, Gillman said Drexel will work with the lending party to create layouts that meet American Museum Association standards, even – if necessary – displaying items in their own custom cases for safety and climate. control.

Atwater Kent board vice-chairman Jeffry Benoliel told the court he was happy with the transfer deal because it gives the collection more resources than it had at Atwater Kent, including digitization, a loan plan and a dedicated endowment.

“It places obligations on Drexel that we never had,” he said.

A letter to the court from a group of concerned citizens – Ken Finkel, Francis Hoeber and Thaddeus Squire – opposed the transfer of the entire collection to a single trustee, suggesting it would be best to divide it into several locations.

They describe the collection as a hodgepodge of objects with little curatorial coherence.

“The collection is not a carefully curated and planned collection of artifacts that tell a seamless story of Philadelphia from its earliest days to the present day,” the letter read. “The collection could reasonably be divided, if this would result in better care and greater accessibility for the artifacts and the ideas they represent.”

On the stand, Gillman said the hodgepodge of conflicting perspectives is exactly what makes the collection one of the most compelling collections of Americana in the country, and why it should be kept intact.

“The Atwater Kent is a collection of intertwined stories,” Gillman said. “Philadelphia has many stories.”

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The American public increasingly supports college aid https://cec-ugc.org/the-american-public-increasingly-supports-college-aid/ Mon, 25 Apr 2022 23:01:00 +0000 https://cec-ugc.org/the-american-public-increasingly-supports-college-aid/ The American public appears increasingly supportive of the idea of ​​taxpayer-subsidized higher education, even as the Biden administration and Congress take a tentative approach, sociologists say. The researchers, Brian Powell from Indiana University and Natasha Quadlin from the University of California, Los Angeles, have just completed a book – Who should pay? Higher education, responsibility […]]]>

The American public appears increasingly supportive of the idea of ​​taxpayer-subsidized higher education, even as the Biden administration and Congress take a tentative approach, sociologists say.

The researchers, Brian Powell from Indiana University and Natasha Quadlin from the University of California, Los Angeles, have just completed a book – Who should pay? Higher education, responsibility and the public – that they expected from American intransigence on the issue of funding for post-secondary education.

But as they scoured a series of opinion polls on the issue, Prof Powell said, they were surprised to see what they now recognize as a startling rate of growth over time in the share of Americans who believe that the government should bear the greatest responsibility for funding. college fees.

“These results were not at all what we had actually expected,” he said.

Their baseline data is a set of three public opinion polls and interviews – in 2010, 2015 and 2019 – aimed at testing this specific question about sharing responsibility for funding. The first showed that nearly two-thirds of respondents believed that parents and students should take primary responsibility.

That 2010 baseline reflected an attitude that was supposed to have been consistent for decades, Professor Powell said. But in the 2015 survey, that level dropped to 50%. Then the 2019 poll showed it below 40%. The proportion who believe government should be primarily responsible for college costs increased over these periods, from 9% to 19% to 25%.

While that still leaves parents and students seen as the main bearers of college costs, the rapid pace of change over the past decade suggests an imminent reversal of that balance, Prof Powell said.

The findings come, however, as the Biden administration struggles to convince Congress to enact its campaign pledge to make all institutions public two-year tuition-free. The administration has also refused on its own to implement Mr Biden’s vow in the 2020 election season to write off $10,000 (£7,782) per person in student loan debt.

Instead, the administration embarked on a series of targeted loan relief announcements. In its most recent episode, the US Department of Education identified another 40,000 borrowers who would receive immediate student debt forgiveness because they worked in eligible government jobs, and outlined new measures. to help at least 3.6 million other borrowers get closer to their forgiveness.

In total, the administration has now canceled more than $17 billion in student debt owed by 700,000 borrowers, due to specific circumstances, such as disabilities and fraud by for-profit institutions. But those numbers represent just a fraction of the more than 43 million borrowers who still owe the federal government more than $1.6 trillion in student debt — more than any borrowing industry other than mortgage loans.

The U.S. Department of Education assured administration officials more than a year ago that the president had the legal authority to cancel that debt without congressional approval. Administration officials have since described themselves as continuing to assess implementation.

U.S. Undersecretary of Education James Kvaal — former president of the Institute for College Access and Success, a group founded to help reduce student debt — reiterated that stance while announcing the latest group relief. of 40,000 borrowers.

“We are working really, really hard where we have clear authority to help borrowers,” Kvaal said. Times Higher Education during a press conference. “And every day we are engaged in conversations about how to make these programs work better and how to provide borrowers with the relief they are entitled to.”

paul.basken@timeshighereducation.com

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THE FUTURE OF HIGHER EDUCATION https://cec-ugc.org/the-future-of-higher-education/ Sun, 24 Apr 2022 04:09:55 +0000 https://cec-ugc.org/the-future-of-higher-education/ Seun Awogbenle argues that government funding of public universities is no longer sustainable Nigeria is a country of many contradictions, almost everywhere you turn there is something wrong. For a long time, it was this illogicality that underpinned our policies and our national life. What is disconcerting, however, is that even when there is consensus […]]]>

Seun Awogbenle argues that government funding of public universities is no longer sustainable

Nigeria is a country of many contradictions, almost everywhere you turn there is something wrong. For a long time, it was this illogicality that underpinned our policies and our national life. What is disconcerting, however, is that even when there is consensus on what should be the way forward, there is either a lack of political will, courage, or the outright complicity of the class Politics.

Take for example the gasoline subsidy which is expected to be around 4 trillion naira which is almost Nigeria’s total income in 2021. The moment you consider the 3.8 trillion naira that is also expected to be spent on utility debt, it is easy to conclude that Nigeria spends if not all of its revenue on oil subsidies and debt servicing. This is even at a time when we all agree that the gas subsidy is no longer viable, but the government has continued to dither and can barely muster the courage needed at a time like this. this. Contradiction.

In addition to the gasoline subsidy, the government currently subsidizes, in part or in whole, agriculture, health and education. I have written extensively on education in the past, it is because I have a conscious awareness of what we can achieve, as a nation, if we can get basic education and higher education right, it is the most sustainable way to reduce poverty and create prosperity, but events like the ongoing ASUU strike, which is the 17th time since 1999, continue to cast a dark cloud over the relevance and sustainability of our higher education.

At the center of the strike debacle is the funding of higher education and the role of government. The main reason for this contradiction is that Nigeria currently spends more than four times on higher education than it spends on basic education. But despite this funding, it has remained insufficient and inefficient, so much so that between 90-95% of the budget allocated to higher education institutions is spent on staff costs, so there is almost nothing left for research and education. innovation that should be the raison d’être of higher education.

Nigeria is perhaps the only country where it costs more to get a basic education than to get a higher education; while in other parts of the world the emphasis is on free and compulsory basic education, as it is this level of education that provides students with literacy, numeracy and critical thinking skills, which are the main purpose of learning. Higher education is not a right and probably should not be free, the challenge however is that the government over the years has decided to subsidize higher education in an attempt to cover up the failure of our basic education , post-basic and upper secondary to meet its objectives.

When you look at our higher education model, no one seems to benefit, neither the government nor the parents nor the students benefit from the current arrangement, because in fact what is the essence of free education, but who doesn’t have the quality that should prepare graduates for the future of professions?

To put the current challenge in the right context, there are at least three existential problems, the first is the bottle funding scheme for public higher institutions which has made higher institutions highly dependent on government. The other is our flawed model that prioritizes funding for higher education over basic education, and ultimately the political courage needed to implement the necessary reforms that are key to reinventing education funding. higher education in Nigeria.

Professor Tunde Rahmon Bello, the former Vice-Chancellor of the University of Lagos, has been widely referenced, for his categorization of sources of funding for universities, according to Bello, the top five sources of funding for a university include the fund ownership, endowments, research, and grants for innovation and investment and business. However, public universities in Nigeria draw their funding mainly from the fund of the owner, in this case the government. This created what I described earlier as a baby bottle funding arrangement, an overreliance and overreliance on government, while other sources of funding went untapped.

A simple fact that we all agree on is that government funding of public universities is no longer sustainable and is not in line with global practice in higher education funding. It’s the simple truth and the bitter reality, however uncomfortable that may seem. Our public universities must have a certain level of autonomy to govern themselves.

The question then would be, how can we reimagine the financing of higher education in Nigeria to the point that it can be sustainable and deliver the desired results? Fundamentally, the solution is not entirely self-contained or isolated from the larger challenge. My point is that we need to start by getting our post-basic and upper secondary education to the point where commodities can become valuable, that would mean we need to reform our education to the point where, every young person leaving school does not necessarily need of a university education as a minimum condition for accessing opportunities. This would have reduced the pressure on students, parents and even universities. I also think it would also create a greater sense of purpose for anyone who wants to attend college. Universities with full autonomy should be compelled to explore funding options such as endowments, research, innovation grants, investments, and ventures. I am convinced that if universities can be autonomous, they can be considerably autonomous. However, the government can reallocate some of the funding directly to students, through merit-based scholarships and state-guaranteed loans.

Going forward, one thing we must all recognize is that if we are to end the strike debacle and reinvent our higher education for the future of jobs, the current funding model for higher education in Nigeria must change.

Seun Awogbenle, seunawogbenle@gmail.com

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William & Mary announces 10-year plan to update halls of residence and dining halls – Daily Press https://cec-ugc.org/william-mary-announces-10-year-plan-to-update-halls-of-residence-and-dining-halls-daily-press/ Thu, 21 Apr 2022 19:19:09 +0000 https://cec-ugc.org/william-mary-announces-10-year-plan-to-update-halls-of-residence-and-dining-halls-daily-press/ The College of William & Mary’s living quarters and dining halls are getting a long-awaited makeover. On Thursday, the school announced a new 10-year plan to renovate its residence and dining halls. The plan, in the works since 2019, will replace or renovate 80% of the current facilities. “A student-friendly residential experience is essential to […]]]>

The College of William & Mary’s living quarters and dining halls are getting a long-awaited makeover.

On Thursday, the school announced a new 10-year plan to renovate its residence and dining halls. The plan, in the works since 2019, will replace or renovate 80% of the current facilities.

“A student-friendly residential experience is essential to a William & Mary education,” university president Katherine Rowe said in a statement, adding that the school aims “to ensure that university accommodation and restaurants will enhance the academic mission of William & Mary for generations to come.”

According to William & Mary, the school will use a “multi-faceted approach to develop and fund different aspects of the plan through a combination of traditional university funding, leveraging its relationship with the William & Mary Real Estate Foundation and seeking out public-private partnerships. with third-party developers.

Currently, the school has 70 individual residences, totaling approximately 5,000 beds. Less than half of these beds are in fully air-conditioned and ventilated buildings, and the average age of on-campus housing is 54 years old.

When completed, the plan will reduce the number of halls of residence to 55, while maintaining the same number of beds. In addition to ensuring 100% of on-campus housing is air-conditioned, more social and study spaces will be added to housing, providing students with common areas where they live in an effort to modernize to fit the way whose spaces students want to use.

Throughout the process, the school will have the possibility to modify the number of beds according to the potential evolution of the housing situation during the 10-year project.

The plan will unfold in three phases, the first of which is already in the planning phase. Using a phased approach, the school will be able to consistently maintain at least 4,500 beds, or approximately 90% of its current capacity, to minimize the impact on students during construction.

Earlier this school year, William & Mary experienced “unforeseen levels” of student demand for on-campus housing due to COVID and changes in the local housing market, according to Maggie Evans, Associate Vice President of Student Affairs and Residence Life Director.

With more upperclass students wanting to live on campus than the school had anticipated, around 600 students were initially unable to get into student accommodation for the 2022-23 school year. . After an adjustment by the school, which included keeping One Tribe Place available as a residence hall despite previous plans to take it offline, the majority of these students were placed in on-campus facilities. The waiting list currently stands at less than 20.

Although the school does not expect to add more beds with the housing plan, it is “confident that we will be well placed to house students who wish to be on campus as the local housing market stabilizes. “said Ambler.

Members of the university’s board of visitors heard a presentation on the 10-year plan during a joint session at the board’s April meeting. Council will consider a resolution Friday supporting the plan, and approval for the initial phase of the project is expected to come to council in September.

The first phase includes the renovation of Old Dominion and Monroe Halls as well as the construction of a new residence hall adjacent to the current Lemon and Hardy Halls, as well as new living and dining facilities on the newly-marked West Campus.

This phase also includes the demolition of Yates Hall, Green & Gold Village, Commons Dining and the Campus Center site. The projected cost for the first phase is $234 million and construction is expected to begin in May 2023.

In subsequent phases, six new facilities are expected to be built, including a dining hall, residence halls and a campus center. Four other facilities, including the Randolph and Botetourt complexes and the Richmond and Dupont halls, will be demolished and five additional buildings will undergo renovations.

Although still dependent on discussions, the total projected cost for phases two and three is between $450 million and $550 million.

Sian Wilkerson, sian.wilkerson@pilotonline.com, 757-342-6616

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