More CEOs were forced out for ethical lapses in 2018 than poor financial performance

Chief executives faced a year of reckoning in 2018 -- but not for the reasons that have traditionally led to forced departures from the corner office. Last year, as boards clamped down on misconduct in the #MeToo era and placed greater scrutiny on executive behavior, more CEOs were pushed out for ethical lapses than for poor financial performance or struggles with their board -- a first for the study by Strategy&, the strategy consulting arm of PwC. (Wash. Post)

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Court releases MASN decision showing Orioles-controlled network owes Nationals tens of millions

A New York court on Tuesday released a redacted version of a Major League Baseball panel’s decision ordering the Orioles-controlled television network to pay the Washington Nationals tens of millions of dollars more in broadcast rights fees. Also filed with the New York Supreme Court was the official notice that the Mid-Atlantic Sports Network — which is super-majority-owned by the Orioles but broadcasts both teams’ games — plans to appeal. (Balt. Sun)

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TEDCO awards $6.6M in stem cell funding to 24 researchers, startups

Maryland Technology Development Corp. has doled out $6.6 million in funding awards to companies and researchers working on stem cell products and medical therapies. The funds were awarded to 24 separate projects through the state's Stem Cell Research Fund. The fund has a budget of $8.2 million in the 2019 fiscal year. This is the second round of stem cell funding awarded this year. (Balt. Bus. Journal)

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Montgomery County EDC sets aside $250K to help small biotechs build out lab space

Montgomery County has set aside $250,000 to help small biotechs secure and build out wet lab space, the county’s economic development corporation announced Tuesday. Under the yearlong Bio Lab Pilot project, growth-stage biotechs that agree to be headquartered in Montgomery County for three years and to lease no more than 5,000 square feet of wet lab space, will be provided $10 per square foot for lab fit-out, up to $30,000 per company. (Wash. Bus. Journal)

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The Windup Space closing after 11 years

The Windup Space announced late Monday night that it will close up shop after nearly 11 years. The arts space at 12 W. North Ave. near Station North will officially close its doors on Saturday, June 1, according to a Facebook post. “Thursday May 16th marks 11 years of the Windup Space,” the post reads. “This will be our last anniversary as we will be closing our doors for good on Saturday June 1st. We’ve had the pleasure of sharing our love for the strange and beautiful things that Baltimore has to offer with our own special blend of programming.” (Balt. Sun)

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Ex-UMMS Board Member Leaves Board Of Regents Amid Probe

A former board member of the University of Maryland Medical System who resigned amid a scandal involving former Mayor Catherine Pugh has now resigned from the university’s Board of Regents as well. The Baltimore Sun reports no reason was given for Robert L. Pevenstein’s departure. Pevenstein was one of several members to resign as details of the medical system’s book deal with Pugh came to light. (WJZ-TV)

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Beltsville biopharm closes IPO, grosses nearly $90M

Beltsville-based NextCure Inc. (NASDAQ: NXTC), a clinical-stage biopharmaceutical company with one anticancer drug in clinical testing, grossed $86.25 million through its initial public offering of 5.75 million common shares. The 44-employee NextCure priced its IPO at $15 per share and closed Monday at $19.40 per share. It's been as high as $22.75 on the Nasdaq Global Market since it started trading Thursday. The $86.25 million includes the exercise in full by the underwriters of 750,000 shares. (Wash. Bus. Journal)

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Local investors focus on remaking old Baltimore buildings into offices, apartments

A small, local company that formed last year already has renovated a Mount Vernon mansion into new offices and plans to begin overhauling and expanding the former Grand Central building on Charles Street into offices and restaurant space soon. Then, the firm, Landmark Partners, will head several blocks south to Gay Street to turn three unused buildings the company bought from the city into housing, reserving one in five units for first responders and other city workers who may not be able to afford downtown rent. (Balt. Sun)

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