News Archive

Announces New Investors in Accelerator

ROCKVILLE, MARYLAND, March 24, 2016 – At its first Demo Day on March 23, Relevant Health, a health technology startup accelerator in the Washington, DC metro area, hosted a group of more than 150 investors, industry leaders and top technology company representatives to experience first-hand the progress of the accelerator’s seven health tech startups. Coming from Bethesda, Rockville, Washington, DC, Baltimore, New York City and Latvia, the startups are developing a wide range of health tech products and devices to meet the healthcare needs of a diverse patient population. The new accelerator is supported by BioHealth Innovation (BHI), ProductSavvy and Montgomery County Economic Development.

Relevant Health also announced yesterday its new line-up of investors, including: Alexandria Real Estate Equities, Maryland Department of Commerce, and the newly formed Montgomery County Economic Development Corporation, as well as other private angel investors.

“Our first graduating cohort from the first health tech accelerator in Montgomery County is a great success,” stated Rich Bendis, BHI President and CEO. “The BHI-developed nationally competitive acceleration program has attracted seven high-quality startups that have dedicated the last five months to the Relevant Health program. We are very proud of their accomplishments. Additionally, we are very pleased with the caliber of investors that have taken a significant interest in Relevant Health.”

Roche Holding AG, the world’s largest producer of cancer drugs, is opening the door to more external partnerships as its latest and most promising tumor-fighting treatment heads for approval this year.

The Montgomery County Economic Development Corporation (MCEDC) was officially designated as the County’s Economic Development Organization by the County Council, marking a big and bold step toward achieving greater economic competitiveness and prosperity in Montgomery County. As the County’s new lead economic development organization, MCEDC is replacing both the County Department of Economic Development (DED) and the Montgomery Business Development Corporation (MBDC) effective July 1, 2016, as the primary point of contact for the local, regional, national and international business community.

An investment firm targeting seed stage investment in health IT and other software startups is raising a $50 million fund, according to a report by Fortune.

Two of the investors behind Refactor Capital’s fund have worked for Google:  David Lee, who also co-founded SV Angel and Zal Bilimoria, who has worked for Andreessen Horowitz.

The Division of Industrial Innovation and Partnerships (IIP), within the Directorate for Engineering at the National Science Foundation, announces a nationwide search to fill multiple Program Director positions for the Small Business Innovation Research/Small Business Technology Transfer (SBIR/STTR) program.

Formal consideration of interested applications will continue until these positions are filled.

Intralytix, Inc., announced today that the company has received a SBIR Phase II grant from the U.S. Department of Agriculture (USDA), National Institute of Food and Agriculture (NIFA), to develop a bacteriophage (or phage) cocktail effective against the larval shellfish pathogens Vibrio tubiashii and Vibrio coralliilyticus. This research will be a continuation of collaborative efforts between Intralytix and Dr. Gary Richards, the Lead Scientist at the USDA, Agricultural Research Service (ARS) laboratory in Dover, Delaware, where these phages were originally isolated and characterized. A spokesperson for the company noted that, in developing this proposed technology, Intralytix will be working closely with Dr. Chris Langdon at the Hatfield Marine Station, Oregon State University, in Newport, Oregon, and Dr. Claudia Hӓse at the College of Veterinary Medicine, Oregon State University, in Corvallis, Oregon. In addition, the company will receive continuing research support from Dr. Richards’ group at the ARS USDA.

The White House on Friday appointed an executive director of its Cancer Moonshot Task Force: Gregory C. Simon, a leukemia survivor with experience in government, nonprofits, and the corporate world.

Entrepreneur Vivek Garipalli has a dim view of the way health insurance companies treat providers and patients. Patients develop trust with doctors and hospitals, and he thought insurers should be the “glue” between them instead of creating friction.

Medical device company Senseonics Holdings Inc. raised about $45 million last week in the first Greater Washington IPO of the year.

Senseonics (NYSE: SENS) originally planned to raise about $60 million by offering 18.2 million shares at a range of $3.10 to $3.50, but ultimately lowered the proposed deal size for the IPO.