Funding for Diagnostics, Crowdsourced Problem Solving, & Medicine Counterfeiting Prevention
We spotted a few investments in New England startups working on a mix of technology in life sciences and collaboration. Take a look.
—Cambridge, MA-based Daktari Diagnostics, a maker of an HIV diagnostics system for use in developing countries, took in $1.17 million of a targeted $1.25 million debt round of funding, according to an SEC filing. The startup is backed by the Bill & Melinda Gates Foundation, as well as individual investors, Hub Angels, Launchpad Venture Group, Mass Medical Angels, Norwich Ventures, and Partners Innovation Fund. Daktari nabbed a $1.8 million equity investment last November.
—PharmaSecure of Lebanon, NH, pinned down $2.5 million of an equity-based funding round that could hit $6 million, an SEC filing shows. Its previous investors include Tech Coast Angels, Gray Ghost Ventures, and Life Science Angels. PharmaSecure, founded in 2007, offers mobile authentication technology to prevent the sale of counterfeit drugs in emerging markets. It is a field also targeted by Boston-based Sproxil.
—Waltham, MA-based InnoCentive raised $844,717 of a potential $7.5 million equity financing, an SEC document revealed. The company, which was incubated by Eli Lilly starting in 2001 and is now an independent company, offers platforms for enabling companies and organizations to collaborate with employees, customers, and partners on problem-solving throughout processes such as R&D. It has collaborations with Popular Science Magazine, Cleveland Clinic, and the city of Boston, to name a few. InnoCentive raised $7.3 million from Spencer Trask Ventures in August 2009.