Latest news with #DeanMiller
Yahoo
5 days ago
- Sport
- Yahoo
Kansas football defensive end Dean Miller shares his excitement as fall camp opens
Check out everything Kansas football defensive end Dean Miller had to say Thursday as the Jayhawks opened fall camp in Lawrence this year.
Technical.ly
18-07-2025
- Business
- Technical.ly
VC slowdown continues as Philly startup funding hits a five-year low
Venture capital went down in Philly again last quarter, falling to its lowest levels since 2020. Companies in the Philadelphia region raised $394.4 million across 83 deals in Q2 2025, according to the latest Venture Monitor report, released quarterly by PitchBook and the National Venture Capital Association (NVCA). That's down again from last quarter, when startups in the region raised $750 million across 114 deals. The Q1 results had already disappointed investors who were optimistic heading into 2025. This is the lowest quarter for VC activity since Q1 2020, when the region raised $333 million over 100 deals. These numbers aren't surprising given the economic and policy uncertainty this year, especially in Q2, Dean Miller, president and CEO of the Philadelphia Alliance for Capital and Technologies, told 'Investors are very gun-shy to invest in companies that have any kind of exposure to the risks,' he said. Plus, companies are waiting to see whether they'll be impacted by potential policy changes like tariffs. Usually, Q2 is a 'catch-up quarter' from Q1, according to Howard Lubert, regional president of Keiretsu Forum Mid-Atlantic. The April to June period tends to be stronger because delayed deals at the end of the previous year finally close, making the Q2 2025 numbers seem especially low. This year's deal count shows that new deals aren't making it through due diligence and existing deals are falling through, he said. 'It's a sign that investor hesitancy isn't letting up,' Lubert said. 'Founders are facing a capital environment that remains unforgiving.' How the 'Big Beautiful Bill' shaped the market Policy changes are also influencing the investment climate. The only sectors seeing big gains are those prioritized by the Trump administration, like defensetech and artificial intelligence, according to the report. Even then, most of that money went to a handful of companies, none of them in Philly. 'This all underscores the importance of forward-looking public policy,' said Bobby Franklin, president and CEO at NVCA. 'The recently enacted One Big Beautiful Bill Act delivers significant wins for founders and investors … However, the bill also introduces new complexities.' An expansion on Qualified Small Business Stock (QSBS) rules, a tax benefit for shareholders of qualified small businesses, could lead to more restructured deals aiming to support firms' existing portfolio companies, according to Lubert. But lean companies with short return-on-investment timelines will still take priority, he added. The new legislation also ensures permanent research and development expensing. Companies can deduct the costs of domestic research and development from taxable income in the year those costs are incurred, which will hopefully increase cash flow for companies, Miller said. There are new challenges, too. Changes to university endowment taxes mean the institutions with large endowments will face higher tax rates on their investments. The act also outlines plans to decrease investment in clean energy and transportation innovations. ' The Big Bill offers long-term benefits,' Lubert said. 'But those advantages only matter if strong companies are emerging and exits are possible.' There's still hope for a rebound Despite these low numbers, Philly's challenges are not unique and its diverse economy positions it for recovery, according to Miller. Philadelphia is home to a variety of strong industries, meaning it won't rely on just one sector to recover from these challenges, he said. Plus, Philadelphia is a top ecosystem for early-stage companies, which don't rely on venture capital to grow, and challenging times often lead to more new startups, according to Miller. For later-stage founders, hope is not lost, though. Generally, the region is still raising more than it was ten years ago. The best founders are still working towards raising money and the best companies with the best teams will succeed, he said. For example, Sojo Industries raised $40 million and Fore Biotherapeutics raised $38 million last quarter, both of which were among the region's top 5 deals. 'I'm a big believer in 'raising customers,'' Miller said. 'So focusing on your business, your product, your go-to-market, and most importantly, your attraction of customers, is mission critical in these types of environments.'
Yahoo
20-06-2025
- Yahoo
CPW conducting sonar search after possible drowning reported at Lake Pueblo State Park
Colorado Parks and Wildlife is conducting a search and rescue operation after a possible drowning was reported at Lake Pueblo State Park's south fishing area. An initial call came in at 7:10 p.m. Thursday, according to Dean Miller, spokesperson for CPW's southeast region. Park boat patrol teams were on the scene Thursday night conducting a grid search with sonar, Miller said. CPW's marine evidence team was also on the scene with additional sonar and an underwater drone. "We will continue an active search as long as it takes," Miller said. If a drowning is confirmed, it will be the fourth at the lake in just over a month. The last was Daniel Duane Strawn, who was found at Rock Creek Cove floating unconscious on the afternoon of June 7. He was pronounced dead on the scene despite life-saving efforts. Prior to that, Derrick Lee Vigil, 28, drowned when his fishing boat capsized at Lake Pueblo on May 30, and Manuel DeJesus Villanueva Miranda, 53, died May 14 after he went into the lake to help his two children and their friends as they struggled to swim in rough waters. None of the latter three victims were wearing life jackets at the time of their apparent drownings, according to CPW. Wear a life jacket. Put a whistle on your jacket so you can call for help. Be aware of your surroundings — the water gets deep quickly. Be aware of the weather, high winds and storms can come up fast. Check your boat and all required boating safety gear. Avoid boating alone and tell someone where you are going and when you will return. Boat sober. Alcohol use is the leading contributing factor in recreational boating deaths. Know that stand-up paddleboards are considered vessels in Colorado and require a life jacket on board at all times. Protect yourself from the dangers of cold water immersion and shock. Regardless of your age or experience level, cold water can quickly create a drowning emergency. More public safety news: Pueblo man pleads guilty to vehicular homicide in 2023 crash Questions, comments, or story tips? Contact Justin at jreutterma@ Follow him on X, formerly known as Twitter, @jayreutter1. Support local news, subscribe to the Pueblo Chieftain at This article originally appeared on The Pueblo Chieftain: Search underway after possible drowning reported at Lake Pueblo
Otago Daily Times
19-06-2025
- Sport
- Otago Daily Times
Miners Cup up for grabs this afternoon
With Matariki making this a long weekend, the southern region features a rare Friday afternoon spectacle in Kaitangata. The Crescent Coal Miners host Lawrence with the Miners Cup on the line. The top four is such a close contest that Crescent can momentarily jump up to second place for 24 hours with a win. Lawrence will not die wondering and are still due a win, which they have sought admirably all season. West Taieri host Clutha in a top-of-the-table battle at Outram with the Speight's Jug and McIntosh Cup on the line in what will be a war of attrition. Clutha have built an almost unassailable lead at the top of the table but will want to win all the same and keep the Pigs well behind them. Since returning from injury, West Taieri first five Callum Smeaton has been driving the team around the park well and will have a big say in the outcome of this clash. Toko celebrate their club day this weekend with what should be a competitive day of footy. The Toko Axemen host Owaka with the Dean Miller and Reg Phillips memorial trophies on the line. Both sides lost last weekend and will be frothing to right the wrongs of previous matches. Toko will want to be pushing back into home semifinal contention; Owaka will be hoping to get 22 players on the field. Injuries and absences are a real issue. Heriot host Clutha Valley for the Trevor Peters Memorial as both sides make one last effort to finish in the top four. The teams are fifth and sixth respectively with the loser of this match certain of a bottom-four spot. The victor still has a mathematical chance of semifinal footy.
Technical.ly
17-03-2025
- Business
- Technical.ly
Does the Spark Therapeutics writedown undermine Philly's biotech swagger? Startups have bigger things to worry about, they say
A shining star of Philadelphia's life sciences ecosystem recently faced a setback, putting a dent in the region's reputation for success in the sector. Cell and gene therapy standout Spark Therapeutics is being restructured following the end of its trial for a hemophilia A gene therapy treatment, and parent company Roche is classifying the former startup as a financial loss, according to the Philadelphia Inquirer. Spark says it's still working on a new gene product for the disease and stakeholders say this downturn doesn't discredit its years of impact. The situation is, however, calling attention to how life sciences startups face challenges like federal funding cuts and product development costs — though industry leaders still say they're optimistic about staying afloat by tapping into the talent and resources that exist here. One restructuring setback won't worsen investment opportunities for other life science ventures, according to Dean Miller, president of the Philadelphia Alliance for Capital and Technologies. 'You're not going to dissuade investors because a pharmaceutical company deprioritized an acquisition,' Miller said. 'That happens all the time.' Philadelphia is consistently a top region for venture capital and life sciences. The Philadelphia Metropolitan Statistical Area is a top-five venture capital market in the US, with life sciences as one of its major sectors, according to PitchBook's quarterly Venture Monitor report. Despite the high ranking, access to capital remains one of Philly's top challenges, especially locally, per Rebecca Grant, senior director of life sciences and innovation for the city's Department of Commerce. Recent challenges like Spark's signal that the industry needs to work toward making gene therapy manufacturing more cost effective, which would get more therapies to market and help attract investment, Grant told But it's also an example of how a company can pivot to stay afloat and continue working. 'They really created a lot of recognition for gene therapy and innovation,' Grant said. 'Now more people understand what gene therapy means and how it can literally cure disease.' Spark Therapeutics did not immediately respond to request for comment. Spark signaled strength in Philly life sciences — what does it mean now? Spark Therapeutics is one of Philly's go-to examples of success, and it helped build up the ecosystem in Philadelphia, Miller said. While restructuring could lead to staff cuts or shrinking offices, following layoffs at the company last summer, this is likely a short-term pain point, he said. After developing the first FDA-approved gene therapy, Luxturna, the Penn spinout broke into the mainstream. When pharma giant Roche acquired Spark in 2019, it was the largest VC-backed exit in Philadelphia at $4.8 billion, bringing more attention to Philly's life sciences ecosystem. '[It's] never easy when your trailblazer starts to disappear a little further.' Dean Miller, president of the Philadelphia Alliance for Capital and TechnologieS Since then, the company welcomed a new CEO and announced plans for its 500,000 square foot Gene Therapy Innovation Center in University City, which is expected to be completed next year. The company previously said the site would house over 500 jobs. 'Gene therapy is not a huge sector, and Spark was a trailblazer,' Miller said. '[It's] never easy when your trailblazer starts to disappear a little further.' Still, stories like Spark's are something that the ecosystem has seen before. Big successes come and go, but the momentum remains, he said, pointing to the example of Centocor, a biotech company founded in Philadelphia in 1979. Centocor's work was groundbreaking at the time, developing large molecule therapies and treatments for rheumatoid arthritis, Crohn's disease and other medical conditions, Miller said. Johnson and Johnson acquired Centocor in 1999 for $4.9 billion. At the time of acquisition, Centocor maintained its brand identity, but eventually completely integrated into Johnson and Johnson. However, the people who worked at Centocor are still around in the Philly life sciences ecosystem and helping new biotech startups get off the ground, Miller said. 'Twenty years from now, I think we'll be saying the same thing about Spark and its impact,' Miller said. 'Not just what it did in developing a new line and approach to gene therapy, but how its people went on to found other companies, to fund other companies.' Fed funding blocks, fleeing investors are the bigger rift Current economic uncertainty and funding changes at the federal level do signal a bit more concern around Spark's turmoil, Miller said. The Trump Administration recently proposed huge cuts to funding for the National Institutes of Health, already seeing grants for vaccine-hesitancy research being rescinded. Philadelphia received $5.9 billion from the NIH between 2019 and 2023, according to the Commerce Department's 2024 Life Sciences Impact Report. Without NIH funding, the United States will fall behind in terms of medical research, Grant said. While stakeholders hold out hope that the administration will change course, the ecosystem needs to start thinking about alternative funding opportunities, like philanthropic foundations and a local pilot program that Grant said the city is working on to target early-stage life sciences companies through the city's small business catalyst fund. 'It takes millions and millions of pre-revenue dollars to bring a drug to market,' Grant said. 'So I'm developing and thinking out a program that I hope to release soon that can help small companies around the city that are moving towards commercialization.' However, this uncertainty could offer a benefit for Philly, she said. If there are fewer funding opportunities and companies have to be more careful with money, Philadelphia's affordability could attract more companies. This could also be an opportunity to increase collaboration across the ecosystem and make capital stretch farther, she said. Researchers doing similar work at different institutions may choose to team up and have a better shot at funding while they wait for more VCs to come through with cash. 'We would always love to see some bigger, deeper-pocketed investors,' said Kathie Jordan, managing director of the healthcare investment group at Ben Franklin Technology Partners of Southeastern Pennsylvania, 'and we continue to work on building out those relationships with investors who really can lead those rounds in the tens of millions.' Philly leans on new labs, strong workforce to push ahead Despite setbacks, Philadelphia continues to lean into its strengths and work toward growing the life sciences ecosystem. Lab and office space is a huge opportunity in the region right now, Grant from the Commerce Department said. Developers are continuing to build more workspace and companies are showing interest in these spaces even before they're finished. 'I don't think people would be continuing to invest if they felt like this ecosystem was going to fail,' she said. 'I don't think people would be continuing to invest if they felt like this ecosystem was going to fail.' Rebecca Grant, senior director of life sciences and innovation for Philly's Department of Commerce The city also has a strong talent pool and workforce, she said. The region ranked No. 8 for life sciences talent on CBRE's 2024 US Life Sciences Talent Trends report, slipping down two spots, but remaining in the top 10 for the third year in a row. The lower cost of living and proximity of major research institutions are also benefits. New success stories are also coming up. For example, Mineralys Therapeutics stock price surged after announcing positive clinical trial results for its hypertension drug candidate lorundrostat. The company raised $192 million after going public last year. As companies like Mineralys continue to grow, they will also hire the talent that exists here in the market, Miller said. But Philly needs to learn how to market itself better and get comfortable touting its accomplishments, Grant said. The key is to 'evangelize' everything the ecosystem has to offer. 'We've always maintained our head above water,' Grant said. 'The innovation we're creating here is just so important to the greater good globally. We'll continue to innovate.' Sarah Huffman is a 2022-2024 corps member for Report for America, an initiative of The Groundtruth Project that pairs young journalists with local newsrooms. This position is supported by the Lenfest Institute for Journalism.
