We bring you this week’s medtech news, from Boston and beyond:
1. $3 million in Accelerator Program loans awarded by Massachusetts Life Sciences Center
The MLSC, an agency implementing the state’s 10-year, $1 billion Life Sciences Initiative, runs the Accelerator Loan Program to de-risk promising start ups. To date, the program has funded over $19.7 million in loans to 27 companies including Good Start Genetics, InVivo Therapeutics and 4s3 Bioscience.
The winners of $1 million each:
3Derm Systems, Inc. – a medical device company working on a skin imaging system that allows primary care physicians to take images of concerning sin lesions and upload them for review by dermatologists
Parsagen Diagnostics, Inc. – a diagnostic company that has developed a rapid, non-invasive test for predicting preterm labor
X4 Pharmaceuticals, Inc. – a clinical-stage therapeutics company developing oral small molecule CXCR4 antagonists for the treatment of several different cancers.
2. Ex-Procter & Gamble employees debut ManUp Health
Following 18 months of research and development, Boston-based Gain Life has launched a new digital health startup, ManUp Health. Founded by ex-Procter & Gamble employees, the program–aimed to attract male participants–has already displayed impressive results in trials. Average members achieved and maintained 14 percent weight loss in one year compared to the Diabetes Prevention Program’s standard of six percent.
“ManUP Health, helps consumers reduce their health risks and lose weight by providing the guidance and accountability of a dedicated coach, teammates, and web/mobile resources,” says Gain Life CEO Sean Eldridge. “We built our first behavioral medicine program designed to combat chronic disease and reduce healthcare costs for the two-thirds of Americans who suffer from serious, but preventable, chronic conditions, and our health outcomes are best-in-class.”
3. MC10’s peel-and-stick sensors move to clinical tests with help from University of Rochester
Development of the Cambridge-based MC10‘s BioStamp, a stretchable medical sensor, has gained a powerful ally in the the University of Rochester who will “test the company’s platform in clinical settings and help it develop its disease-specific algorithms for predictive health analytics,” mobihealth reports.
“Wearable sensors, like those from MC10, can enable objective, sensitive, frequent assessments of an individual’s condition to improve their health and advance new treatments for neurological conditions,” said the University of Rochester Medical Center’s Dr. Ray Dorsey in a statement to mobihealth. “Through the seamless exchange of data between patients and physicians we can move healthcare outside of the clinic and truly overcome distance and disability.”
4. Care at Hand finishes investment round, highest contributor PCG Public Partnerships
Care at Hand, a San Francisco based tech company, concluded an investment round and found a strong supporter in PCG Public Partnerships, LLC., a $230M full-service financial management services firm. Both groups service vulnerable populations focusing on social impact within the elder community.
“Care At Hand provides Public Partnerships with an unprecedented opportunity to provide direct care workers with a user friendly, affordable means of exporting valuable red flag events, unique to the HCBS population, out of the home into the hands of care managers.,” says Jay Egan, Director of Managed Care for PPL in a release. “Public Partnerships is excited to partner with Care At Hand in further assisting managed care organizations in achieving the triple aim of better member care, a better member experience and reduced costs.”
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