Startups
On August 29, Chicago-based Tempus, which focuses on data analytics for molecular and clinical data, announced it had raised $110 million in Series E financing. This brought total money raised so far to $320 million. This also gave the company a valuation of $2 billion.
RootPath, headquartered in Cambridge, Massachusetts, announced a $7 million seed funding round. The financing was led by Sequoia China. Volcanics Venture, BV (Baidu Ventures) and NestBio Ventures participated.
Who made a splash in the biotech world this week? Here are some notable people.
Inc. magazine collates an annual list of the fastest-growing private companies in America. This year, 15 of the top 5,000 were related to healthcare, medical devices and biopharma.
Sensyne Health, a London-based healthcare artificial intelligence (AI) company founded by biotech entrepreneur Paul Drayson, recently launched an initial public offering (IPO) on the London AIM market. Drayson’s plan is to raise $78 million. It’s just one of many companies that are exploiting advances in computing, data science and AI to help identify and develop potential new drugs.
When people hear the word “unicorn” they may think of the mythical horse with a polished horn protruding from its brow. But in the world of investing, the term unicorn refers to a startup company worth more than $1 billion.
Yet another company is launched to focus on longevity and diseases of aging. The Buck Institute for Research on Aging, Insilico Medicine, an artificial intelligence (AI) company with offices and resources in the U.S., Belgium, Russia, the UK, Taiwan and Korea, and Juvenescence, also a human longevity company, founded Napa Therapeutics to develop drugs against a novel aging-related target.
Massachusetts in general and Boston, specifically Cambridge, is one of the two largest centers in the U.S. for biotech startups and life science companies (the other being the San Francisco Bay Area). Here’s a look at 13 Massachusetts life science companies that are showing both gains and losses—mostly gains—at the six-month mark.
Magnolia Neurosciences Corporation, co-founded by Accelerator Life Science Partners and The University of Texas MD Anderson Cancer Center, launched with a $31 million Series A financing.
As its core semiconductor and smartphone businesses slow down, South Korea’s Samsung Group has announced a broad investment into new areas. Those areas include artificial intelligence (AI), 5G mobile technology, electronic components for the automotive industry, and biopharmaceuticals.
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