The word meat has new meaning. Where it once referred exclusively to animal flesh harvested from a carcass, today a lab-grown variety is calling that definition into question. A handful of enterprising startups have raised and invested hundreds of millions of dollars into the concept of lab-grown meats, banking on breakthroughs in biotech to revolutionize the food industry. As a result, the fledgling ‘clean meat” industry has progressed in leaps and bounds over the past few years. Since 2013, lab-grown meat went from a fringe idea to something far more mainstream. In the next few decades (some think perhaps even within the next few years) lab-grown meat may find its way onto the menu of a progressive restaurants or into your refrigerator at home. However, these companies have plenty or obstacles to overcome before a commercial product makes it to the market. So, in the meantime, here’s our brief explainer on lab-grown meats. What is lab-grown meat? Lab-grown meat is … [Read more...] about Time for test-tube turkey? Everything you need to know about lab-grown meat
Biotech
A medical diagnostics startup that wants to use CRISPR technology to detect diseases raised $23 million in venture funding
caption The science team behind Mammoth Biosciences source Mammoth Biosciences Mammoth Biosciences co-founders Trevor Martin, Janice Chen, and Lucas Harrington are spotlighted in the healthcare category of Forbes’ 30 under 30 list of 2019. Mammoth Biosciences announced a $23 million funding round in July, setting the company up to try and make a dent in the $45 billion global disease detection market. The startup uses CRISPR-based technology to detect the presence of diseases like HPV and malaria in DNA from blood or urine samples. The technology is easily transportable and doesn’t require expensive machines to run tests. Mammoth Biosciences‘ motto is simple: to make up-to-date diagnostics simple, accessible and affordable. “If you think about what we’re offering it’s kind of like a pregnancy test,” said Trevor Martin, co-founder and CEO of Mammoth Biosciences. But instead of tracking … [Read more...] about A medical diagnostics startup that wants to use CRISPR technology to detect diseases raised $23 million in venture funding
Moderna Therapeutics, a biotech unicorn valued at more than $7.5 billion, could be gearing up for an IPO as early as this winter
caption Moderna Therapeutics CEO Stephane Bancel source CNBC screenshot Biotech unicorn Moderna Therapeutics, which is valued at more than $7.5 billion, may file for an initial public offering as early as this winter, according to STAT news. The company has reportedly hired banks including Goldman Sachs, JPMorgan, and Morgan Stanley to help it with its debut on Wall Street. Moderna develops mRNA-based therapeutics and vaccines, 10 of which are currently in the clinical pipeline. It has disclosed strategic relationships with AstraZeneca, Merck, and Vertex Pharmaceuticals. Moderna Therapeutics may file for an initial public offering as early as this winter, STAT news reported earlier this week. The Cambridge-based biotech unicorn was founded in 2010 and now has a valuation of more than $7.5 billion. Additionally, Moderna has reportedly hired banks including Goldman Sachs, JPMorgan, and Morgan Stanley to help it gear up for its stock debut. Moderna … [Read more...] about Moderna Therapeutics, a biotech unicorn valued at more than $7.5 billion, could be gearing up for an IPO as early as this winter
A company that calls itself the ‘Flatiron Health of rare diseases’ and is backed by Mark Zuckerberg, Bill Gates, and Jeff Bezos just raised $3 million
caption RDMD co-founders Nancy Yu and Onno Faber. source RDMD RDMD is a platform for data sharing between patients with rare diseases, doctors, and researchers. The company announced on Monday it har raised $3 million in seed funding led by Lux Capital and Village Global, whose network of backers include Bill Gates, Mark Zuckerberg, Jeff Bezos, and Reid Hoffman. When Onno Faber was diagnosed in 2014 with a rare disease called neurofibromatosis type 2 that creates tumors in the central nervous system, he blindly combed through the Internet for treatment options before a friend who was doing genetic research suggested a potential clinical trial. He soon realized there had to be a better way. Faber then teamed up with former 23andMe executive Nancy Yu to found RDMD, a platform that works with patients, top experts and foundations to collect patient data on their history and symptoms. These records help patients share their data with doctors, get second … [Read more...] about A company that calls itself the ‘Flatiron Health of rare diseases’ and is backed by Mark Zuckerberg, Bill Gates, and Jeff Bezos just raised $3 million
Akouos, a biotech startup that’s trying to tackle a $750 billion global problem, just announced it’s raised a new funding round
source Shutterstock Boston-based biotech startup Akouos is the first of its kind to use gene therapy to tackle genetic-based hearing disorders. The company announced $50 million in Series A funding on Tuesday. The funding will help Akouos advance its first program into human trials, support its pipeline for therapies, and build out both its team and its platform. Akouos is a new biotech startup that’s trying to address a $750 billion problem: hearing loss. Manny Simons, co-founder and CEO of Akouos, spent his college and grad school years figuring out the biology of the ear and how to deliver drugs to the right parts of the ear. His interests drew him to his now co-founders at Massachusetts Eye and Ear about 15 years ago. The Boston-based company announced on Tuesday that it raised $50 million in its Series A funding round. It was co-led by Seed investors 5AM Ventures and New Enterprise Associates (NEA), followed by Partners Innovation Fund, … [Read more...] about Akouos, a biotech startup that’s trying to tackle a $750 billion global problem, just announced it’s raised a new funding round