New tenant finalizing lease at Frederick Towne Mall site

A local real estate broker announced this week that a tenant is weeks away from inking a deal to bring new life to the shuttered Frederick Towne Mall along the city’s Golden Mile. Tony Checchia, a broker and the owner of Verita Real Estate, on Wednesday confirmed a report from the Frederick Extra that he is working on a lease between the mall owner and a Maryland-based entertainment-style tenant for a portion of the former mall. (News-Post)

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GlaxoSmithKline's Rockville chief lays out priorities for 2018

British pharmaceutical giant GlaxoSmithKline PLC said it finally has its full team in place at its new vaccine hub in Rockville, ready to take on some of the region's most well-known biotech competitors with part of its product lineup. This next year, officials said, will be about taking a leadership position in new vaccine technologies and advancing its top priority projects, including its vaccine candidates for shingles as well as respiratory syncytial virus, a common respiratory virus that often attacks infants and the elderly — and a key disease target already for major players such as MedImmune and Novavax Inc. (Wash. Bus. Journal)

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Gender balance in Baltimore banking

Out of the 50 top local executives on our 2017 banking institutions List, just nine are women. However, those nine women combined oversee banks with a combined $36.2 billion in local deposits — or 50.1 percent of the local market. Bank of America, whose top local executive is Sabina Kelly, ranks No. 1 on the List, controlling 27.9 percent. Laura Gamble is the regional president for Greater Maryland for PNC, which holds 10.6 percent of local deposits, good for No. 3. (Balt. Bus. Journal)

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December 7 // Maryland medical marijuana dispensaries are already running out of pot

Marylanders interested in buying medical marijuana days after the launch of a state-sanctioned program may already be out of luck. Five of seven licensed dispensaries that have opened since Friday said they have completely or almost run out of flower — the raw part of the marijuana plant that is smoked or vaporized — and have limited supplies of other cannabis products. The other two stores are limiting sales to a small group of preregistered patients. (Wash. Post)


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Harford County thoroughbred farms part of Maryland effort to court South Korean business

John William Boniface Sr. bent down and ran his fingers through the grass at his Bonita Farm in Harford County. “Maryland has as good a grass as Kentucky,” he told a group of visitors from South Korea. Boniface boasted that Maryland held its first thoroughbred horse race in 1721, back when Kentucky was still open prairie. Boniface is one of a group of Maryland horse industry boosters who’ve spent the week wooing the South Korean horse farm owners and breeders. They’ve been trying to convince the South Koreans to buy Maryland horses — and to build lasting relationships with Maryland’s equestrian industry. (Balt. Sun)

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Baltimore-based Harpoon Medical acquired for $100 million

Harpoon Medical, a Baltimore-based medical device company, has been acquired by Edwards Lifesciences Corp. for $100 million. Under the deal, Harpoon, which is developing a device for minimally invasive heart surgery, will become part of California-based Edwards while retaining its West Camden Street offices. All 18 of Harpoon’s employees are joining Edwards. The acquisition, which closed Dec. 1, stems from a structured financing agreement Harpoon struck with Edwards in 2015. In that deal, Edwards made an investment of undisclosed value in Harpoon’s research and development efforts in exchange for the option to acquire the company after completion of key clinical trials in Europe. (Balt. Sun)

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Maryland cannabis commission hires new executive director

An Eastern Shore hospital executive has joined the Maryland Medical Cannabis Commission as its new executive director. Joy A. Strand takes her new job just as companies have begun to dispense medical marijuana to patients. She replaces Patrick Jameson who resigned last month. The former state trooper took over as executive director in April 2016. He was the second executive director to resign from the commission in as many years. Strand comes to the commission from McCready Health in Crisfield, where she was the CEO. She oversaw a health system that included a hospital, an outpatient center, an outpatient rehabilitation center, an assisted living facility, and a nursing and rehabilitation center. (Balt. Sun)

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Bethesda's Northwest Bio raises $12 million in new funding round

Bethesda-based Northwest Biotherepeutics has raised $12 million as it continues its phase 3 clinical trial for its immunotherapy drug candidate for glioblastoma multiforme brain cancer. Announced Tuesday, Northwest Bio officials said the funding would be used for general corporate purposes, which could include clinical trial expenses, but did not offer further specifics. The company is developing products to stimulate the immune system to reverse tumor growth and kill cancer cells and has several human clinical trials underway. (Balt. Bus. Journal)

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