With Fresh Funding, Senzo Looks Ahead to a New Era of Point-Of-Care Diagnostics and Growth in Philadelphia

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Senzo Health is working to change COVID-19 testing with its Amplified Lateral Flow (ALF) COVID-19 antigen test, which combines the sensitivity and specificity of molecular assays with the convenience of a point-of-care diagnostic, with results in under 10 minutes.

Polaris Genomics Announces Continued Research & $100K Grant Awarded from Maryland Industrial Partnership Program (MIPS)

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Polaris Genomics Announces Continued Research & $100K Grant Awarded from Maryland Industrial Partnership Program (MIPS)
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Polaris Genomics
July 19, 2022, 16:38 GMT
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As we continue to set our sights on better serving veterans, frontline workers & trauma-impacted communities, MIPS grants leverage crucial funding that accelerates genomics research outcomes.”— Polaris Genomics CEO Charles CathlinROCKVILLE, MD, UNITED STATES, July 19, 2022 /EINPresswire.com/ — The biotech startup that brought to light the first and only PTSD genomic test announces continued research and innovation with continued funding from a second $100,000 matching grant awarded by the Maryland Industrial Partnership Program (MIPS).
In the Fall of 2020, Polaris Genomics was awarded a $100,000 matching grant by MIPS and began partnering with researchers at the University of Maryland Baltimore to test the performance of PTS-ID, a genomic blood test to identify persons with PTSD, measure disease severity and detect treatment response.
“It was an exciting…

How Did Philadelphia’s VC Activity Fare in Q2? Actually, Pretty Great

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After months of speculation that the VC market was changing after a wild 2021, it’s confirmed — deals are still historically high in 2022, but have declined from last year.
PitchBook and the National Venture Capital Association dropped their Q2 2022 PitchBook-NVCA Venture Monitor on Thursday, featuring new data showing that after deals peaked in late 2021 and early 2022, nationally, there was a slowdown in the second quarter of the year. Angel and seed stage funding was down, though less dramatically, as were other early-stage venture capital deals and late-stage VC.
Public offerings have also been affected over the last several months as many companies that had been prepping for IPOs are waiting out a recession.
“IPOs continued to be essentially nonexistent for VC-backed companies in 2022,” the report said, “with only 22 closed during the first half of the year, relative to 183 in 2021, and 108 in 2020.”

Delfi Diagnostics Announces $225 Million Series B Financing to Develop Globally Accessible Portfolio of Liquid Biopsy Tests

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This round of financing was led by DFJ Growth with participation from Eli Lilly and Company, Point72, Brown Advisory, Point Field Partners, Initiate Ventures, Open Field Capital, PTX Capital, and all existing investors including Cowen Healthcare Investments, Foresite Capital, Menlo Ventures, OrbiMed, funds and accounts advised by T. Rowe Price Associates, Inc., Northpond Ventures, Samsara BioCapital, Rock Springs Capital, AV8 Ventures, Illumina Ventures, Osage University Partners, and Windham Venture Partners.

TEDCO’s Maryland Innovation Initiative Helps Propel Ideas from the Lab to the Marketplace

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Kubanda Cryotherapy cofounder Bailey Surtees was building the foundation for her company as an undergraduate at Johns Hopkins University (JHU) before she knew it. In 2016, she was researching how to make breast cancer treatment more affordable and accessible for low- and middle-income countries.
Surtees surmised that cryotherapy was the ideal solution because it doesn’t require a sterile operating room or anesthesia. Thus, she began developing a probe that could be used for this treatment.

Orchestra BioMed Cues Up Medtronic Collab, $400M SPAC Deal

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True to its name, Orchestra BioMed is currently conducting a symphony of several business ventures at once.
In a three-in-one announcement Tuesday, the Pennsylvania-based startup unveiled a new partnership with Medtronic, the close of its latest funding round and—backed in part by the proceeds from that financing—plans to go public through a SPAC merger.

Proscia Nabs $37 Million in Series C Funding to Advance Digital Pathology Capabilities

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Using its powerful artificial intelligence-driven Concentriq digital pathology platform, Proscia is accelerating breakthroughs in precision medicine. David West, Co-Founder and Chief Executive Officer of Proscia, explained that pathology has been a core component of research and diagnosis for more than 150 years. But, with advances in technology and machine learning capabilities, the field is shifting away from microscopes and glass slides and becoming a data-driven discipline that is more reliant on the use of high-resolution digital imagery.