Business Briefs are short stories keeping you up to date with what’s happening around the county.
Galera Therapeutics Raises $37 Million in Private Stock Sale
Malvern based Galera Therapeutics, the biotech company developing new treatments for cancer patients has raised $37 million in a private stock sale.
Existing investors New Enterprise Associates, Novartis Venture Fund, Correlation Ventures, and Galera Angels participated in the series B venture capital financing led by San Francisco-based Novo Ventures.
The company plans to use the proceeds to advance its pipeline of experimental anti-cancer therapies, which include its lead candidate, GC4419, a potential treatment for preventing oral mucositis in head and neck cancer patients receiving chemoradiation therapy.
“Oral mucositis represents a major and largely unaddressed problem for head and neck cancer patients and the radiation oncologists treating them,” said Thomas Dyrberg, Managing Partner of Novo Ventures and a new member of Galera’s board of directors. “We are excited about the potential for GC4419 to address this problem and become an essential part of standard therapy for these patients.”
Chesco Dairy Farm Turns to Art to Help Save its Cows
Milky Way Farm, run by the Matthews family for over a hundred years, has been fighting falling prices of wholesale milk and rising expenses for years by offering birthday parties, summer camps, and Halloween attractions.
However, the 103-acre farm in Chester Springs has still had to sell several cows to survive. In an attempt to try something new, the family has asked acclaimed Chester County artist Richard Bollinger, whose art has been displayed in embassies as part of a State Department program, to paint Milky Way.
He obliged, saying that he was struck by the scene.”It just needed to be painted,” he said.
The painting is a re-creation of the farm’s logo, and it features the 230-year-old stone springhouse beside a venerable sycamore tree and a wooden footbridge over a small pond.The farm is hoping to sell 500 prints of the painting at $95 each.
Master Archery Targets Acquired by BIGshot Archery
Downingtown based BIGshot Archery, the creator of some of the most innovative archery targets in the industry, has announced the acquisition of Master Archery Targets, the Pennsylvania-based target company.
By making this strategic purchase, BIGshot acquires not only Master Archery’s client base, but also their production facilities, product technology and marketing rights. With this purchase BIGshot Archery, which was founded in 2003, is able to continue its exponential growth in this highly competitive sector of the outdoor industry.
Al Perelli, BIGshot Archery president, expressed his enthusiasm about the recent acquisition, saying that “Master Archery Targets provided a solid target at an economical price which fits BIGShot Targets’ culture of providing great value at an affordable price. The company also had certain production technologies we were interested in.”
A day of mentoring is afoot at the Vertex’s Berwyn offices, as the leading provider of corporate enterprise tax solutions opens its doors and welcomes youngsters from Big Brothers Big Sisters Southeastern Pennsylvania.
Through BBBS SEPA’s Beyond School Walls program, companies like Vertex give back to the community by hosting children from a nearby school at their corporate office. This visit will provide a group of middle school students from the Eisenhower Science and Technology Leadership Academy in Norristown with lasting professionally supported one-to-one mentoring relationships.
“Vertex is honored to be a BBBS SEPA corporate partner, and thrilled to welcome these young, bright minds into our offices,” said Amanda Westphal-Radcliffe, co-owner and Board Director at Vertex. “We are proud to partner with BBBS SEPA as part of our corporate philanthropy program and look forward to continuing our support of this amazing organization.”
Over $7,000 Awarded to Artists for Bryn Mawr Rehab Hospital’s 20th Annual Art Ability Exhibition and Sale
Over 400 entries by close to 200 artists were submitted for the 2015 Bryn Mawr Rehab Hospital’s Art Ability Exhibition and Sale which celebrates artists with disabilities.
Three prestigious members of the Philadelphia art community had the difficult task of choosing the winners in seven prize categories defined by medium as well by a special theme, “Landscapes”. Judges also got to select their personal favorite and worked together to decide on the “Best in Show”.
Thanks to generous donations from members of the Bryn Mawr Rehab Hospital community, board and staff, winning artists will receive cash prizes ranging from $50 to $1,000.
Art Ability will open its 20th year with a Preview Reception on November 7th at the hospital. The Art Ability Exhibition and Sale will be free and open daily to the public from November 8th until January 31st.