Money Moves: iECURE, Avisi Technologies and Invent Analytics just scored $75M+ in venture capital
Summary
Its new $65 million Series A-1 was co-led by Novo Holdings A/S and LYFE Capital with participation from existing investors Versant Ventures and OrbiMed Advisors.The majority of the round will go toward advancing the companys lead program, GTP-506, including funding Investigational New Drug-enabling studies, starting clinical trials following regulatory approval, and achieving early human data readouts. We believe that this funding will enable us to execute all the tasks necessary to begin clinical development of what could be the first mutation-agnostic in vivo gene insertion therapeutic program.Eric Rieders, an owner and former CEO of NMS Labs, is pursuing a new project in Horsham: an incubator called the Center for Diagnostics Discovery, for entrepreneurs working on new diagnostic products and processes.Philadelphia Biz Journal reported that the proposed 50,000 square feet of space will live in the 150,000-square-foot building that houses NMS Labs. The space is expected to be available in early 2024.Center City-based retail planning solutions company Invent Analytics announced Tuesday that it had raised $7.5 million in Series A funding led by EBRD (thats European Bank for Reconstruction and Development), with participation from Collective Spark. Invent Analytics differentiated and science-driven retail planning suite delivers a measurable and straightforward ROI with an incredible speed-to-value.Doylestown-based Baruch S. Blumberg Institutes Academic Entrepreneur Initiative was granted $2 million from the states Angel Investment Venture Capital Program at the end of November, the organization announced. Blumberg collaborates with other institutions and scientists to help develop biotechnology innovations into valuable, often-commercialized products for improving human health.The Venture Programs goal is to grow access to capital for high-growth startups and encourage job creation in Pennsylvania, with a focus on companies in commercializing R&D, tech transfer or the application of new technologies.Blumberg will fund five biotech spinouts: MERLIN Biotech, Larlingene Life Sciences, RimmSting Life Sciences, Pentr\xe1valent LLC and Cirna Diagnostics LLC.The Blumberg Institute is a true leader and example of how providing a unique environment including physical workspace, equipment and other business resources and collaborations can lead to the successful transition from a startup company to one with significant job creation and growth that now commercially produces products originally developed at these incubators, said Senate Majority Appropriations Committee Chairman Pat Browne, who helped develop the Angel Investment Venture Capital Program, in a statement.LifeX in Pittsburgh also recently received funding from the state program.