Portfolio News

Biotech startup bringing 400 jobs to Durham after landing incentive package

GRAIL will bring 398 jobs to Durham, N.C., over the next five years, effectively doubling its workforce. The company landed an incentive package from the state of North Carolina valued at $5.7 million, and Durham County also pledged $678,000 in incentives. In return, GRAIL will invest $103 million into facilities including a laboratory, warehouse, and offices, and create 398 new jobs in a variety of fields. The company expects to start hiring in 2021. “Even in tough economic times, companies like GRAIL see that North Carolina is...

Drone deliveries are making their case in a crisis

With the coronavirus pandemic forcing people to spend most of their time indoors and, when possible, maintain social distancing, and with companies instituting numerous measures to minimize the threat and spread of infection, there has to be a safer and quicker method of exchanging goods and services. The good news is, there is one, and it comes in the form of drones. In a time of crisis, the operators of commercial drones are excited to step forward and show how drones can be beneficial to society. Matternet,...

Amwell Raises $194 Million, Committing to Expand the Best and Largest Digital Health Platform

Amwell has announced that it has closed its Series C financing round, adding $194 million in funding across two tranches. Many early investors and strategic partners participated in this round, including Allianz X and Takeda. Amwell will use significant parts of the funds to expand its investment in technology and services that make it easy, convenient, and effective for doctors and patients to connect securely at scale. The company will continue to ensure that clinical encounters remain fully integrated in existing workflows and enveloped with healthcare-appropriate...

Digital Health Investments See Significant Uptick in Q1; Investors Consider COVID-19 Impacts in Coming Months

COVID-19 has brought changes and uncertainty to the entire venture-backed ecosystem. Nonetheless, the digital health sector saw its best first quarter since analysts started tracking its performance more than 10 years ago: according to Rock Health data, the sector logged $3.1 billion in investment across 107 deals. StartUp Health agrees, but its figure is even higher—$4.5 billion in health innovation funding in Q1 2020. Average deal sizes for digital health startups in Q1 averaged about $29 million, which compares to $19.5 million in 2019 and $21.5...

Study finds slight rebound in patient volumes in May, but physicians still in danger financially

A study published recently by the Commonwealth Fund shows that although visits to ambulatory care practices have rebounded slightly, physicians are still facing major obstacles to get their practices back to pre-pandemic levels. The Commonwealth Fund data released April 23 shows that the number of visits to outpatient physician practices declined by nearly 60 percent as of March 29, 2020, compared with pre-COVID-19 levels. But a new update showed that the number of visits rebounded slightly to below 30 percent as of May 10. Although the rebound...