Business
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Fort Washington’s Madrigal Pharmaceuticals Procures $3.4 Million in Debt Financing
Fort Washington’s Madrigal Pharmaceuticals has procured $3.4 million in debt financing, according to a filing with the Securities and Exchange Commission, writes John George of the Philadelphia Business Journal. According to George, the biopharmaceutical company has previously entered into an all-stock reverse merger deal with Synta Pharmaceuticals valued at about $60 million. The merger is…
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Unisys Secures Huge Contract from Merck
Unisys, the global information technology provider based in Blue Bell, has announced that its subsidiary in Germany has won a new five-year contract to provide Merck with end-user IT services for its 48,000 employees worldwide. Under the new contract, Unisys will provide the global pharmaceutical, chemical, and life sciences company with global service desk, unified…
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Republic First Bank Selects New Commercial Lender for Regional Market
Republic First Bank, which has offices located in Abington, Bala Cynwyd, Plymouth Meeting, Wynnewood and elsewhere throughout Greater Philadelphia, has named Jerry Bresser the Vice President and Commercial Lender for the Pennsylvania market. Bresser has nearly 20 years of local banking experience. Prior to joining Republic, Bresser worked for Commerce Bank, where he was hired…
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Security Sales to Help Unisys Rebound from First-Quarter Decline
Unisys, the Blue Bell-based information technology company, believes that its security-oriented consulting, infrastructure, and managed services will help the company rebound from recent losses, writes Michael Novinson of CRN (Computer Reseller News) Magazine. “What you’ll find, which you didn’t see in previous quarters, is a geographic breadth and depth,” Unisys President and CEO Peter Altabef…
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Unisys Reports Almost $40 Million in First-Quarter Losses
Unisys, the Blue Bell-based information technology service provider, recently reported a loss of $39.9 million in its first quarter, writes Jeff Blumenthal of the Philadelphia Business Journal. The company lost 80 cents per share. In the first quarter last year, it lost 87 cents per share for a total of $43 million. “Our first quarter…
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KOP’s eBay Enterprise Adopts Radial as New Company Name
A King of Prussia-based, retail-logistics company of more than 7,500 employees has reincarnated yet again. After five years as eBay Enterprise, the company founded as GSI Commerce is back as an independent firm with a new name, Radial, writes Joseph DiStefano of the Philadelphia Inquirer. “We were the smallest business unit in a big public…
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Glenside’s Paskill Stapleton & Lord Strikes Gold in Design Competitions
Glenside’s Paskill Stapleton & Lord struck gold in recent awards competitions sponsored by College and University Public Relations and Associated Professionals (CUPRAP) and Higher Education Marketing Report (HEMR). PS&L, a higher-education marketing firm, earned a total of four gold awards from the CUPRAP and HEMR competitions, part of a total of nine citations for excellence…
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Meadowbrook’s Holy Redeemer Hospital Unveils New NICU Technology
Holy Redeemer Hospital in Meadowbrook unveiled a new technology this week that allows parents, wherever they are, to keep a close eye on their newborn in the medical center’s neonatal intensive care unit, writes John George of the Philadelphia Business Journal. The hospital has installed Angel Eye Camera Systems to its NICU beds to allow…
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Appearance on Dr. Phil Gives Boost to King of Prussia’s Genomind
The flagship product of King of Prussia’s Genomind, a personalized medicine company, was recently featured on Dr. Phil. In the ensuing days, the company reported an increase in call volume by 600 percent and e-mail volume at 70 times the normal activity, writes John George of the Philadelphia Business Journal. Genecept Assay – a genetic test…
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Upper Merion Native is Leading Challenger for Governor of Montana
Upper Merion native Greg Gianforte, who helped found RightNow Technologies before it sold to Oracle for $1.8 billion, is the leading Republican candidate to challenge Democratic Gov. Steve Bullock for Montana’s top office, writes Joseph DiStefano of the Philadelphia Inquirer. Gianforte told DiStefano that he learned life lessons on the field at Upper Merion High…
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Ft. Washington’s Vitae Pharma Closes Stock Sale
Vitae Pharmaceuticals Inc., a Fort Washington biotechnology company, closed its public stock offering. It generated $35 million in proceeds, writes John George of the Philadelphia Business Journal. Vitae sold 5.83 million shares of common stock at $6 per share. According to George, that amount of the offering could grow by another $5.25 million. That is if underwriters…
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KOP’s Genomind Featured on Dr. Phil
King of Prussia’s Genomind, a personalized medicine company, was recently featured on an episode of Dr. Phil, writes John George of the Philadelphia Business Journal. The company’s Genecept Assay – a genetic test designed to help clinicians make more informed treatment decisions for their patients with mental illness – was the focus of last Tuesday’s…
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Conshohocken-Based Learning App on Cusp of Breakout
Byndr, a Conshohocken-based learning management application, has raised $300,000, writes Dan Norton of the Philadelphia Business Journal. Byndr recently graduated from the University of Pennsylvania’s ed-tech incubator, EDSi, which invested a value of $50,000 in the startup in exchange for somewhere between six to eight percent equity. It also won $20,000 in the Milken-Penn GSE…
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Hatfield’s Genisphere Partners with Lankenau to Find New Approach to Treating Ovarian Cancer
Scientists at Genisphere, a biotech company in Hatfield, have partnered with a group of peers at Main Line Health’s Lankenau Institute for Medical Research to develop a potentially new approach to treating ovarian cancer, writes John George of the Philadelphia Business Journal. Ovarian cancer is the second most common gynecologic cancer in the United States,…
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CEO of King of Prussia’s CSL Ltd. Discusses Impact of Gene Therapy
Paul Perreault, the 59-year-old chief executive officer and managing director of CSL Ltd., recently discussed with the Philadelphia Inquirer the effect that gene therapy could have on his business. Gene Therapy involves curing chronic conditions such as the bleeding disorder hemophilia by discovering and replacing the defective gene that causes it. CSL Ltd. – a…
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North Wales in 93rd Percentile, King of Prussia 90th in Money Management
If you live in North Wales or King of Prussia and don’t work in finance, you might want to switch careers, because new data suggests that you have excellent money-management skills. According to a recent study conducted by WalletHub – an online, industry-leading finance resource – North Wales ranks in the 93rd percentile nationally in…
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Learn from WSFS Bank How to Protect Your Small Business from Asset Loss and Fraud at June 27 NoonZOOM
Recent events in banking have brought new attention to the financial services industry and have business leaders wondering if they are taking the right steps to ensure their money is safe. Join a pair of experts from WSFS Bank to learn the several ways to safeguard against threats like fraud or market volatility. On Tuesday,…
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