Tag: entrepreneurs
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TB Diagnostics Developer Gains $1.5M in Early Financing
TB Biosciences, a biotechnology company in Bethlehem, Pennsylvania developing genomics-based diagnostics for tuberculosis, received $1.5 million in its first fund-raising round after initial start-up. The financing was led by Bethlehem venture capital company Originate Ventures, joined by Ben Franklin Technology Partners of Northeastern Pennsylvania and the NYU Innovation Venture Fund. Tuberculosis, or TB, is a…
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Venture Funding Down in 2Q, Health Companies Score in Exits
Venture capital (VC) funding of start-up companies in the U.S. continued its decline in the second quarter of 2013, but biotechnology start-ups figured prominently in gaining liquidity during that quarter. The data, compiled by the investment industry research service Dow Jones VentureSource, shows U.S. companies raised $7.2 billion in 801 deals during the second quarter, registering declines…
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Smart Scalpel Tests Tissue for Cancer During Surgery
Medical technology researchers from Hungary and the U.K. developed a device that analyzes the smoke-like aerosol released during cancer electrosurgery to determine if the dissected tissue is cancerous. The team from Imperial College London led by medical faculty member Zoltán Takáts published its findings in today’s issue of the journal Science Translational Medicine (paid subscription…
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University Research Leads to Non-Toxic Insect Repellant
Research by an entomology professor at University of California in Riverside led to a company licensing his discoveries that announced its first product, a non-toxic patch that repels mosquitoes for 48 hours. Olfactor Laboratories, a company co-founded by and licensing the research of Anandasankar Ray, makes the Kite mosquito patch, which yesterday started a crowd-funding…
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Stem Cell Developer-Supplier Issues Initial Public Offering
Cellular Dynamics International in Madison, Wisconsin, a developer and supplier of human stem cells in bulk quantities, filed an initial public offering (IPO) of its stock with the U.S. Securities and Exchange Commission. The company is issuing some 3.85 million shares, which it expects to price at $12.00 to $14.00 a share, giving it an…
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Biotech, Cancer Center Partner on Tumor-Targeting Peptides
Blaze Bioscience, a biotechnology company in Seattle, is partnering with the Fred Hutchinson Cancer Research Center, also in Seattle, to develop and commercialize drug candidates based on engineered peptides that better target tumor cells than conventional cancer drugs. Financial amounts in the agreement were not disclosed. The Hutchinson Center is conducting research on optides —…
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Alternative Solar Cell Developer Adds $10M Venture Funding
Scifiniti, a developer of silicon-based solar materials in San Jose, California secured $10 million in series B venture financing, the second round of funding after initial start-up. Current investors Alloy Ventures, Firelake Capital, I2BF Global Ventures, and Peninsula Ventures took part in the round. The company’s first product is SmartWafer, an alternative photovoltaic solar cell…
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VC Fund Gains $100M for University, Defense Lab Spinoffs
Allied Minds, a venture capital (VC) company in Boston starting companies that commercialize research from university and U.S. federal labs, raised $100 million for its next series of investments. The company says closing this funding round brings its total assets to about $500 million. Allied Minds makes early-stage investments, sometimes soon after the point of…
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Stem Cells Generate High-Quality Liver Cells for Drug Tests
Medical researchers at University of Edinburgh in Scotland created a process for inducing pluripotent stem cells to transform into liver cells with the same consistency and quality needed to test drugs for toxicity. A spin-off company from the university has also formed to take the research to market. The team led by Edinburgh’s David Hay…
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Kidney Disease Technology Start-Up Lands $9.5M Venture Funds
TVA Medical Inc., a developer of devices in Austin, Texas to treat end-stage renal disease, secured $9.5 million in series B venture funds, the second round of financing after initial start-up. Austin-based S3 Ventures, an early-stage venture capital company, led the round with TriStar Technology Ventures and existing investor Santé Ventures. End-stage renal disease occurs…