Tag: entrepreneurs
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Start-Up Commercializing Genetic Microfluidic Chip
Aquila Diagnostic Systems in Edmonton, Alberta, Canada is taking to market a technology that collects small blood samples on a microfluidic chip for multiple genetic tests. The technology, now in prototype, was developed at University of Alberta, also in Edmonton, and licensed to Aquila for commercialization when the company was formed in 2009. The chip…
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New York University to Build Urban Sciences Center
A Center for Urban Science and Progress (CUSP) is planned for downtown Brooklyn, New York to conduct research on issues and technology related to the needs of the world’s cities. The new campus, which will include an incubator for spin-off businesses, is a consortium of New York University and its Polytechnic Institute (NYU-Poly), other U.S.…
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U.S. Venture Deals, Dollars Decline in Q1 2012
Companies in the U.S. raised less money in fewer venture capital deals during the first three months of 2012 compared to the same period last year, according to data compiled by Dow Jones VentureSource. Some science-based sectors fared better than others during this period, while venture capital (VC) investors generally showed more interest this year…
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University Start-Up to Generate Power with Stored CO2
A spin-off company from University of Minnesota is commercializing a process for generating electricity with geothermal energy from stored carbon dioxide captured at coal-fired power plants. Heat Mining Company LLC, in Rapid City, South Dakota, is based on a technology invented by Minnesota faculty Martin Saar (earth science) and Thomas Kuehn (engineering), and earth science…
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Breakout Labs Makes First Early-Stage Science Company Grants
Breakout Labs, a revolving investment fund in San Francisco that aims to support early-stage enterprises developing radical new technologies, announced its first six grants yesterday. The fund is backed by the Thiel Foundation, established by entrepreneur Peter Thiel, a founder of online payments service PayPal and an early investor in Facebook. All of the recipient…
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Nutritional Enzyme Maker Secures $10M Early-Stage Financing
Alcresta, in Newton, Massachusetts, has closed a $10 million series A financing round, the first funding installment after start-up. Investors are led by the venture capital firms Bessemer Venture Partners, Frazier Healthcare, and Third Rock Ventures. The company develops and commercializes enzyme-based nutritional products designed to improve the health of and manage disease for infants,…
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Infectious Disease Diagnostics Company Lands Series B Funds
Molecular Detection Inc. in Wayne, Pennsylvania, a company developing tests for diagnosing infectious diseases, says it has completed a new $1.9 million round of series B financing, the second funding installment after initial start-up. All existing investors, says the company, took part in the round, including MentorTech Ventures, Robin Hood Ventures, Elm Spring Holdings, and…
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Michigan State Forms Subsidiary to Encourage Start-Ups
Michigan State University in East Lansing has formed a subsidiary of its MSU Foundation to help faculty and students turn their research discoveries into operating businesses. Spartan Innovations LLC will be part of the university’s Innovation Center located adjacent to the campus. Spartan Innovations is expected to tap into a $350 million capital fund from…
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Biotech Licenses Brain-Nervous System Treatment Technology
Ben-Gurion University of the Negev in Israel says it has licensed a technology from its labs that crosses the blood-brain barrier to deliver drugs for treating disorders of the brain and central nervous system. The V-Smart technology, as its called, was licensed exclusively to Lauren Sciences LLC, a privately held biotechnology company in New York.…
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Merck Investing in Life Sciences Venture Fund
Flagship Ventures in Cambridge, Massachusetts says Merck’s venture arm has joined in a recent investment fund backing start-up life sciences companies. The amount of the investment, which was not disclosed, was made by Merck’s Research Ventures Fund in Flagship Ventures Fund IV that closed in January. Flagship says its Ventures Fund IV will be devoted…