Personal Genome Diagnostics and KingMed Enter Strategic Partnership to make Comprehensive Genomic Tissue Panel with TMB available in China and Hong Kong

Personal Genome Diagnostics Inc. (PGDx), a leader in cancer genomics, and KingMed Diagnostics, a laboratory services leader in China, announced today that they have entered into a strategic partnership for the PGDx elioTM tissue complete assay. KingMed Diagnostics brings substantial patient reach, encompassing 37 laboratories covering more than 21,000 hospitals and clinics. This partnership provides PGDx and KingMed Diagnostics the opportunity to serve the clinical trial screening needs of pharmaceutical partners in the Asian market through testing sites in mainland China and Hong Kong. In time and as a result of contributing data from these studies, the partners expect to also serve the clinical testing needs of patients and
physicians in those geographies upon the appropriate regulatory approvals of the PGDx elioTM assays.

The PGDx elio™ tissue complete panel is a 500+ gene test for somatic alterations that detects single nucleotide variants (SNVs), small insertion/deletions (indels), amplifications, rearrangements, microsatellite instability (MSI) and tumor mutational burden (TMB). The use of TMB and MSI for the identification of cancer patients whose tumors may be likely to respond to immune checkpoint inhibitor therapy has recently been investigated in clinical trials (TMB) and approved (MSI) by the U.S. Food and Drug Administration (FDA).

Read more here.


Blue Cross, Aledade team up to support independent practices in North Carolina through ACOs

A health plan and a startup company are pairing up to support independent primary care physicians in North Carolina.

Blue Cross and Blue Shield of North Carolina and Aledade, a well-funded startup that partners with primary care physicians to build and lead accountable care organizations (ACOs), are joining to launch a new initiative that will support hundreds of independently owned and operated primary care physician clinics in the state, according to an announcement Wednesday.

Doctors will be encouraged to join ACOs through which they can earn enhanced reimbursement rates and share in a portion of cost savings generated from the improved quality of care, the two organizations said.

Read more here.


iLearningEngines, Ranked Number 7 Fastest Growing Company in North America on Deloitte’s 2018 Technology Fast 500

Deloitte has announced that iLearningEngines ranked 7th on Deloitte’s Fast 500™, a ranking of the 500 fastest growing technology, media, telecommunications, life sciences and energy tech companies in North America. iLearningEngines also ranked #1 in the Greater Washington DC area for the second straight year. iLearningEngines previously ranked #14 as a Technology Fast 500™ award winner for 2017.

“iLearningEngines’ Learning and AI platform and its ability to drive desired outcomes at massive scale has strongly resonated with enterprises. Our growth rate continues to accelerate as enterprises are rapidly adopting iLearningEngines for mission-critical training,” said Harish Chidambaran, President and CEO.

“iLearningEngines is a category defining company that is transforming the way people learn and engage with expert content. iLearningEngines is well-positioned to continue its rapid growth globally. We are proud to be an investor in the business and partner with an exceptional Maryland based entrepreneur, Harish Chidambaran and his team,” said Parag Sheth, Director at the Maryland Venture Fund.

Read more here.


Shiji Completes Acquisition of StayNTouch

Shiji has today announced it has acquired StayNTouch, Inc. The addition of StayNTouch’s innovative and cloud-based hotel management tools to Shiji’s growing hotel technology stack will enable both StayNTouch and Shiji customers to seamlessly integrate across multiple hotels and travel technology systems.

Shiji is a leader in global hotel technology, at the core of all hotel and travel technology is the seamless and secure exchange of data across systems. Continuing the strategy of innovation through development or acquisitions and integrations. Shiji sees StayNTouch as an important part of making hotel management technology mobile and scalable for hotels of all sizes.

Read more here.


Maryland Venture Fund and TEDCO’s Seed Fund Hire New Business Development Associate

The Maryland Venture Fund (MVF) and TEDCO Seed Fund today announced that Bill Collier has joined their team as a Business Development Associate. Bill’s addition to the team supports the funds’ focus on finding entrepreneurs that build great companies in the region.

“Bill will play an important role in seeking opportunities and stewarding the resources needed to help entrepreneurs bring new concepts to market,” said Andy Jones, managing director of MVF. “His experience and passion align with our goals, and we are confident that he will help us find entrepreneurs with exciting ideas to invest in.”

As a lifelong resident of the D.C. Metro Area, Bill is passionate about bringing the region’s innovative concepts to market. Prior to joining MVF, Bill worked at GE Digital in the Accelerated Leadership Program—GE’s premiere leadership development and training program. In his most recent role, he helped build the processes and technology stack for the global customer success organization. He currently serves as an advisory board member for Maryland-founded startup, Grey Matter USA, and previously worked at the Chevy Chase-based startup, WeddingWire.

Bill earned his MBA, with a focus on Strategic Marketing and Finance, and his B.A. in Environmental Studies and Geography from George Washington University.

MVF is a sector and stage agnostic venture fund dedicated to growing the next generation of exceptional businesses in Maryland. With three pools of capital and $135 million in assets under management, MVF partners with entrepreneurs to build high-growth companies that last and thrive.

 


Xometry Announces Acquisition of MakeTime, Adds Additional $25MM in Funding to Fuel Growth

Xometry, the largest on-demand manufacturing platform, announced that it has acquired MakeTime, another leading on-demand manufacturing company. This acquisition brings together the country’s two top manufacturing network platforms. The combined company will operate under the Xometry brand name and have offices in Maryland and Kentucky.

The acquisition will allow Xometry to grow its national partner network of manufacturers from 1,100 to over 2,300 while gaining MakeTime’s enterprise product expertise and features including their Autodesk Fusion add-in and Shop Advantage program. Drura Parrish, MakeTime Founder and CEO, will join Xometry as Executive Vice President for Platform.

Foundry Group, one of MakeTime’s investors, will lead a new $25MM round of funding for the newly combined company. Almaz Capital, BMW i Ventures, GE Ventures, Highland Capital Partners and Maryland Venture Fund will also contribute to the round.  Xometry has now raised a total to date of $63MM.

 

Read more here


Mimecast Acquires Ataata

Mimecast Limited (NASDAQ: MIME), a leading email and data security company, today announced it has acquired Ataata, Inc. Ataata is a cyber security training and awareness platform designed to reduce human error in the workplace and help enable organizations to become more secure by changing the security culture of their employees. The acquisition will allow customers to measure cyber risk training effectiveness by converting behavior observations into actionable risk metrics for security professionals. The addition of security awareness training and risk scoring and analysis strengthens Mimecast’s cyber resilience for email capabilities.

According to research Mimecast conducted with Vanson Bourne, 90 percent of organizations have seen phishing attacks increase over the last year, yet only 11 percent responded that they continuously train employees on how to spot cyberattacks. This spans organizations of all segments and sizes including major airlines, government, healthcare – or any other industry. Training is considered hard to implement as these organizations often lack resources and the right content to help raise the awareness of what to spot. The acquisition of Ataata will offer customers a single, cloud platform that is engineered to mitigate risk and reduce employee security mistakes by calculating employee security risk based on sentiment and behavior while connecting them with relevant training that is content based on their score and recommended areas for improvement. The solution is designed to allow security teams to dial up security settings at the employee level by leveraging real-world data to train employees to spot threats that are targeting them today.

Read more here.


Leading Caregiver Marketplace HomeCare.com Raises $11M to Accelerate Growth

HomeCare.com announced today it has closed a new $11m round led by 3TS Capital Partners, Blue Heron Capital, Maryland Venture Fund, and Private Access Network. With the largest base of mobile-enabled caregivers, HomeCare.com is the leading platform where consumers and health care providers go to find and hire experienced caregivers. The capital will be used to support the company’s rapid growth, expand geographically, and add new product offerings.

HomeCare.com is revolutionizing the home care market by identifying the highest quality caregivers, allowing families to tailor care for their exact needs, and providing unprecedented visibility and reporting into the care provided. Experienced caregivers choose HomeCare.com because the platform combines the flexibility of being self-employed with the ability for caregivers to choose opportunities that match their experience level, skills sets and schedule. The company’s products and mobile applications assist with the entire care process, including real-time visit alerts, automated time-tracking and digital payments.

In addition to helping families, HomeCare.com also provides caregiver services to some of the largest hospital systems, senior nursing facilities and assisted living corporations in the country.

Read more here.


Personal Genome Diagnostics closes $75 million financing round

Personal Genome Diagnostics, a Baltimore-based cancer diagnostics company, has raised $75 million to expand access to genomic testing for cancer patients.

The Series B financing round was led by pharmaceutical giant Bristol-Myers Squibb and existing investor New Enterprise Associates with contributions from Inova Strategic Investments, Co-win Healthcare Fund, Helsinn Investment Fund, Windham Venture Partners and the Maryland Venture Fund.

Douglas Ward, CEO of Personal Genome Diagnostics, or PGDx, described the new funding and test development as an “important next step in our effort to empower the fight against cancer.”

Read more here.