Gaithersburg biotech company to spin off research unit
Emergent Biosolutions, a healthcare company focused on biodefense products, announced last week it will spin off its research and development unit, Aptevo Therapeutics, into a stand-alone, publicly traded company. Aptevo primarily develops cancer treatments, which differs from Emergent’s core products that include vaccines and antibody treatments for infectious diseases and other health issues. Emergent produces BioThrax, the only anthrax vaccine licensed by the Food and Drug Administration, which the company sells to the U.S. government. The spin-off of Aptevo is designed to help Emergent’s bottom line and attract new investors, while enabling Aptevo to continue researching cancer treatments, according to Emergent. Aptevo will be based in Seattle and employ 70 to 90 workers, reports The Seattle Times.
Rockville solar company to move to Columbia
Standard Energy Solutions announced earlier this month it will move from Rockville into a new warehouse building in Howard County. The solar consulting and installation company currently located at 1355 Piccard Drive will move to a 90,000-square-foot warehouse at 9520 Gerwig Lane in Columbia. The company said in a statement it’s making the move to be located along the I-95 corridor so it can more easily reach its customers.
RLJ Entertainment survives near de-listing by Nasdaq Stock Market
The Silver Spring-based entertainment company founded by BET co-founder Bob Johnson avoided being de-listed from the Nasdaq Stock Market earlier this month by improving its stock price before a Dec. 2 deadline. The stock exchange warned the company it would be de-listed if it couldn’t raise its stock price above $1 and keep it there for 10 consecutive days. The company was able to do so before the deadline. The company is known for its ownership of 64 percent of Agatha Christie’s mystery books, according to The Washington Post. The company primarily distributes and produces television and film content. Its stock is currently selling at 66 cents, but has ranged from a low of 26 cents to a high of $2.30 in 2015.
