A therapeutics company that has developed a magnetic drug-delivery therapy to treat peripheral artery disease has received a $7 million venture capital investment in a series A financing round.Devon Park Bioventures, a Wayne, Pennsylvania venture capital firm, invests mainly in therapeutics. The investment gives the company two board seats at Vascular Magnetics, a spinoff from [...]

Johnson & Johnson (NYSE:JNJ) CEO William Weldon is to step down as CEO in April as part of a multiyear succession plan, according to a statement from the company. The move comes amidst a stream of recalls that include over-the-counter products and artificial hip implants that have cut sales.Weldon will be succeeded by Alex Gorsky, [...]

AT&T is partnering with the American Medical Association to consolidate their healthcare information exchanges.The strategic alliance will combine the AMA’s physician community portal, Amagine, with AT&T’s Healthcare Community Online, according to a statement from AT&T and the AMA.The AMA has spent at least $15 million developing the physician portal through its subsidiary Amagine Inc and [...]

A specialty pharmaceutical company has secured $15 million in venture debt backing for its topical gel drug to treat the early stages of mycosis fungoides, a type of non-Hodgkin’s lymphoma.The investment will go toward operational expenses and commercializing the drug, for which a new drug application (NDA) has been submitted to the U.S. Food and [...]

Investors gave thumbs up to the ability to improvise and thumbs down to an infomercial tone at a recent critique of entrepreneurial pitches in Philadelphia. A panel of investors evaluated presentations from four entrepreneurs and discussed what they look for in elevator and longer format pitches. The session was part of a seminar instructing entrepreneurs [...]

A new East Coast accelerator is seeking 10 to 12 technology companies to help seed-stage entrepreneurs and investors find each other.The accelerator is looking for companies developing software as a service and other disruptive technologies that can scale quickly.Currently, prospective companies are invited into the program rather than having to apply. The accelerator has recruited [...]

Par Pharmaceuticals (NYSE: PRX) completed its third generics deal in six months with the $20.5 million acquisition of a drug developer and manufacturer based in India.Edict Pharmaceuticals has 11 abbreviated new drug applications filed with the U.S. Food and Drug Administration.In November, Par Pharmaceuticals completed its $410 million deal to acquire Anchen Pharmaceuticals, a privately-held [...]

In some ways, Google+ offers more intriguing possibilities for the medical industry than other platforms, for hospitals, payers, pharmaceutical companies and rare disease communities. With more than 90 million subscribers as of January, it seeks to cultivate the best features from Facebook and YouTube in one place. Its greatest advantage is in the flexibility it gives users to organize their own communities. Users can do Skype-style video chats with a group of people, or they can record video segments and distribute them to a desired circle or group within their community.

The picture-driven social media tool Pinterest made Internet history by rocketing to 10 million subscribers in just under two years, and already surpasses YouTube, Google+ and LinkedIn for referral traffic. The majority of users are early adopters of social media, women in their 20s and 30s sharing pictures under categories ranging from beauty, fitness, science and nature.

A drug therapy for hemophilia patients developed by CSL Behring has been given orphan drug status by U.S. regulators.The hemophilia therapeutic from CSL Behring, a plasma protein therapeutics producer in King of Prussia, Pennsylvania, links recombinant fusion protein coagulation factor VIIa with albumin. The treatment is designed to help hemophilia A and hemophilia B patients [...]