MedImmune expands research with universities

Biotechnology company MedImmune said Tuesday it has expanded a bioresearch collaboration it started with the University of System of Maryland. The Gaithersburg company, a development arm of AstraZeneca, started the partnership with the University of Maryland Baltimore in 2013 and will now also work with campuses in College Park and Baltimore County. (Balt. Sun)

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Omega awards bonuses, reports increased income, funds from operations

The CEO of a Hunt Valley-based real estate investment trust, which has a portfolio of skilled nursing and assisted living facilities across the U.S., was awarded $7.3 million in compensation for 2013, a year that the firm’s returns placed it among the top performing REITs in the country. Omega Healthcare Investors, Inc. CEO C. Taylor Pickett received a $700,000 base salary and a $1.05 million cash bonus in 2013. Chief Operating Office Daniel J. Booth was awarded $3.92 million in compensation for the year, while Chief Financial Officer Robert O. Stephenson received $3.03 million, according to a proxy statement filed with the Securities and Exchange Commission Tuesday. (Balt. Sun)

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April 29 // A tale of 2 Marylands

A Baltimore-based economist Monday called on state and local economic officials to address a growing economic gap among jurisdictions in Maryland. “There’s this notion of one Maryland,” said Anirban Basu, chairman and chief executive officer of Sage Policy Group. “I’ve always viewed it as a fiction but what I am suggesting to you is that it’s becoming more fictional each and every passing year.” Basu, in a speech to the Maryland Economic Development Association, cited a growing economic gap between urbanized counties he referred to as “federal Maryland” and rural Eastern Shore and Western Maryland counties and Baltimore city. (Daily Record)

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Grants introduced for Old Town Mall revitalization

Brian Street stepped outside the barber shop where he works Monday at the mostly abandoned Old Town Mall to see a crowd of people surveying the corridor and discussing plans to demolish some of the empty buildings. A group of officials, including Gov. Martin O'Malley and Mayor Stephanie Rawlings-Blake, came to the 16-acre outdoor mall to announce a $300,000 investment to prepare the site for re-development. In all, the state's Strategic Demolition and Smart Growth Impact Fund will provide $5 million for 13 revitalization projects across Maryland. (Balt. Sun)

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TheraPearl to sell products at Target

If your back aches or your ankle swells, managers of a Columbia-based company want you to forgo the ice pack and grab a TheraPearl instead. The maker of therapeutic pearl-filled packs that can be chilled in the freezer or heated in the microwave want their brand to be to ice packs what Kleenex is to tissues. The company appears on its way. After less than six years, the brand that started with an idea and three employees has grown to $10 million in sales at some of the nation's biggest retailers. (Balt. Sun)

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Baltimore manufacturer awaits bankruptcy auction

When a Belgian firm tried to sell a Baltimore manufacturer to a company that planned to take jobs elsewhere, the local employees saved their livelihoods by buying their employer. Ten years later, another foreign company has stepped up to buy the company and save the jobs once more. Hedwin Corp., a plastic container maker, struggled in recent year with rising costs, the recession and a major fire that hamstrung the plant in Medfield last year. The company filed for Chapter 11 bankruptcy protection from creditors earlier this month to facilitate a sale and is set to be auctioned off May 9. (Balt. Sun)

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Report: Pepco talking with potential buyers

Pepco Holdings Inc. stock rallied nearly 6 percent in Monday trading on a report the company may be in talks to be acquired. Industry publication  SparkSpread reported Pepco has retained Morgan Stanley and Lazard to conduct a strategic review, and that the advisers “are having targeted discussions with potential buyers.” SparkSpread cited an unidentified industry source. (Wash. Bus. Journal)

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Utz takes over as salty snacks partner of the Baltimore Ravens

The Baltimore Ravens have inked a new sponsorship deal with snack maker Utz Quality Foods Inc. As part of the agreement, Utz will be the exclusive provider of potato chips, tortilla chips and pretzels at M&T Bank Stadium concession stands. Hanover, Pa.-based Utz also plans to launch special edition Ravens-inspired products. (Balt. Bus. Journal)

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