Corporate report

USF, Tampa Bay WaVE win $500,000 federal grant
A partnership of the University of South Florida and Tampa Bay WaVE were among the first 26 recipients of the 2014 Regional Innovation Strategies program federal grants. The USF-Tampa Bay WaVE partnership received a $500,000 i6 Challenge grant.

The award is the second i6 grant awarded to the USF-led partnership, which received $1 million in 2012 to launch the FirstWaVE Venture Center. The project is led by Stephanie Ashley, USF's director of business incubation and economic development; Paul Sanberg, USF senior vice president for research, innovation and economic development; and Linda Olson, founder and executive director of Tampa Bay WaVE. Matching contributions from public and private community partners increased the total amount received by the joint venture to more than $1 million.

The 2012 grant helped the partnership to raise $12.6 million in outside capital and allowed 94 startup companies to participate in the accelerator program.

“This investment will support the expansion of the FirstWaVE Venture Center in Tampa, a program that has been highly successful in connecting high-growth startups with mentorship, early stage capital and other resources to foster a culture of innovation throughout the region,” Ashley says in a press release.

Since its launch, the FirstWaVE Venture Center has had more than 250 tech entrepreneurs utilize its co-working space and hosted 325 events.

The Regional Innovation Strategies program is being run by the U.S. Economic Development Administration' Office of Innovation and Entrepreneurship.

Walter Investment subsidiary buying $9.6B of loans
Ocwen Loan Servicing LLC, a subsidiary of Atlanta's Ocwen Financial Corp., signed an agreement in principle to sell about 55,500 loans owned by Freddie Mac to Green Tree Loan Servicing LLC, a subsidiary of Tampa-based Walter Investment Management Corp. (symbol: WAC; recent price: $18.67).

The loans, which are mostly performing, have a total principal balance of about $9.6 billion.

Walter Investment Management Corp. is a mortgage banking firm primarily focused on the servicing and origination of residential loans, including reverse loans. The company has more than 6,700 employees.

Oxis Biotech licenses drug rights to treat hard-to-fight cancers
Tampa-based Oxis Biotech Inc. has agreed to a definitive licensing and development agreement with MultiCell Immunotherapeutics Inc. for the the creation of certain antibody drug conjugates. These drugs are thought to be useful for the treatment of triple-negative breast cancer, a type of cancer that is immune to many chemotherapies, and multiple myeloma and the resulting weakening of bone tissue, called osteolytic lesions.

Under the terms of the agreement, MultiCell Immunotherapeutics will develop three antibody drug conjugates product candidates, which contain Oxis' lead drug candidates OXS-2175 and OXS-4235. Oxis paid MultiCell Immunotherapeutics a license fee of $500,000 and will reimburse the firm up to $1.13 million for its development costs to make the three antibody drug conjugates exclusively licensed to Oxis.

If all clinical development milestones are achieved and manufacturing rights are purchased, Oxis agreed to pay MultiCell Immunotherapeutics an additional $22.75 million and royalties of 3% net yearly worldwide sales upon marketing approval of the compounds.

Actsoft, U.S. Cellular sign business software deal
Tampa-based Actsoft Inc. reached a two-year agreement with U.S. Cellular to allow U.S. Cellular's customers to access a line of Actsoft's technology. Actsoft will provide business customers of U.S. Cellular the ability to track a fleet of vehicles, automate their business, go paperless and keep track of assets.

This deal covers Actsoft's Comet EZ, Comet Tracker, Comet Mobile Worker, Comet Fleet and Advanced Wireless Forms products.

Actsoft says the agreement is a first of its kind of for U.S. Cellular, which is the fifth-largest full-service wireless carrier in the United States.

AirFlyte FAA certified for corporate jet maintenance
AirFlyte, a Westfield, Maine, subsidiary of Rectrix Commercial Aviation Services Inc., has received a new Federal Aviation Administration certification that will allow it provide full maintenance of corporate jet aircraft at Sarasota Bradenton International Airport. The firm operates locally from the Rectrix Aerodrome Center Inc. Hangarminium site at 8080 15th St. E., Sarasota.

The license recognizes AirFlyte as a national Certified Repair Station.

“Having a fully certified maintenance station on airfield property, offering high quality amenities, certainly bodes well for SRQ as this type of growth is happening nationally,” Fredrick “Rick” Piccolo, president and CEO of Sarasota Bradenton International Airport, says in a press release.

AirFlyte was acquired by Rectrix in January 2013.

At the same time, Rectrix has named Ashley Watts as its new president. Watts has been with Rectrix at Sarasota Bradenton International Airport for seven years, where she last served as the vice president of administration and finance.

Sanibel Vacations hires Noise for new brand
Sanibel-based branding and advertising agency Noise Inc. has been hired to create and launch a new brand for Sanibel Vacations. The firm will develop the brand and an associated advertising campaign for Sanibel Vacations.

Sanibel Vacations is a vacation rental marketing and property management company focused on the islands of Sanibel and Captiva.