Steve Case’s Rise of the Rest seed fund has raised $150 million from a cavalcade of high-profile investors.
Investors in the new fund, named after Case’s yearslong effort to draw more attention to nontraditional areas outside of Silicon Valley and New York, include Amazon chief and Washington Post owner Jeff Bezos, The Carlyle Group co-founder David Rubenstein, Google CEO Eric Schmidt, Starbucks CEO Howard Schultz and members of the Koch, Pritzker and Walton families, according to a release.
The landscape for the delivery of health care in the United States is changing, but the traditional care-delivery players are not the change agents. The recent announcement of CVS’s $69 billion deal to acquire Aetna brings an insurer together with a large network of primary care providers: CVS has built more than 1,100 Minute Clinic locations inside its pharmacy stores in 33 states and the District of Columbia.
Johnson & Johnson Innovation, today announced a collaboration with the Shanghai Municipal Government, Pudong New Area Government, and Shanghai Pharma Engine Company, Ltd. to launch a new Johnson & Johnson Innovation, JLABS in Shanghai (JLABS @ Shanghai), China. The 4,400-square-meter facility will be located in Shanghai’s Zhangjiang Hi-Tech Park and will open in Q2 2019.
The Maryland Technology Development Corp. announced $800,000 in investments to six companies, including four in the Baltimore area.
State-backed TEDCO funnels hundreds of thousands of dollars into young, growing companies through its multiple investment funds and is backed by an annual budget of about $18.5 million. The organization’s seed fund portfolio continues to grow statewide.
The Inova Personalized Health Accelerator opened its doors on Wednesday, with a ribbon cutting attended by over 300 guests. Rockville, Md.–based HeMemics was named as the first of six health technology startups that the hospital system will invest in its portfolio by the second quarter of next year.
Towson University officials are envisioning the college’s new $184 million science building as essentially the exact opposite of Smith Hall, the building that currently holds most of Towson’s science classes.
Inova Personalized Health Accelerator (IPHA) has selected HeMemics Biotechnologies, Inc. (HBI) as its first portfolio company. HBI is a research and development company located in Rockville, MD that develops rapid diagnostic test platforms to detect various bacterial and viral pathogens. The company’s technology detects, within 15 seconds, the absence or presence of a specific virus or bacterium when an aqueous sample is placed on an electronic chip. HeMemics invented and patented “HemSol™,” a method to preserve cells and biological entities for an extended period of time. The preservation method in conjunction with the low cost HeMemics prototype electronic chip and portable, battery-powered reading device are designed to be deployed for Point of Care (POC) diagnostics. Typically, pathogen detection involves laboratory analysis which delays inpatient treatment or requires a return visit for outpatients.
When Venture Capitalists (VCs) invest in startups, they are aware of risks involved in returns- it might be either mind-boggling or they might end up taking a lot of losses. But VC hits are much talked about and at the same time, not all predictions come true. Some venture capital firms make successful exits and it shows the growth of the startup ecosystem.
The internet has become a crucial gateway for accessing information. Just look around Brody Café or wherever you’re reading this piece: People are writing papers, conducting research, reading articles, buying a new pair of shoes or watching TV, all through the internet. Whether it is education, business or entertainment, the internet has become a practical necessity for us to engage in society today. For our democracy and economy to function, it is paramount that people have equal access to the internet.
Recent news surrounding the nation’s growing opioid epidemic has demonstrated how an all-hands-on-deck approach is needed when a serious national health crisis threatens the lives of Americans. The Trump administration declared opioid abuse a public health emergency, and lawmakers have enacted legislation to expand treatment and prevention programs, as well as prosecute individuals who commit opioid-related health care fraud.
