Tyto Athene acquires aerospace firm Microtel
Less than two months after Dennis Kelly became Tyto Athene’s new CEO, the company acquired Microtel LLC, an aerospace tech company headquartered in Greenbelt, Maryland.
The acquisition will allow the Herndon government contractor and IT services company to expand its capabilities and customer base. The purchase is part of Kelly’s push to take the company to “the next level.”
➡️ Get more details on the acquisition in my latest report.
A shuttered hospital becomes a biotech hub
Philly’s centrally located Hahnemann University Hospital, which was closed just before the pandemic, is now being revitalized as a hub for biotech research and development.
It’s attracting tenants from outside the region, the first being Zahav Biosciences — a Maryland-based drug development company formerly known as Cytimmune Sciences and focusing on treating cancerous tumors. Last year, the company was purchased by Philly-based Brodie Generational Capital Partners and rebranded.
➡️ Learn about this new hub in reporter Sarah Huffman’s story here
News Incubator: What else to know today
• The owner of Washington Spirit, Michele Kang, is selling her Falls Church federal tech firm. [Washington Biz Journal]
• 2Gether-International, a startup accelerator run by and for entrepreneurs with disabilities, announced its spring 2024 cohort, per an emailed announcement. The participants include Sign Spaces, Equivalent, Glam Canes, Our Odyssey, Play with ASL, Infinite Flow, Nexterra Medical and CBoard. [2Gether-International]
• Advocacy-spurred updates to Delaware’s small business-related demographic information collection process led to recent data showing a tenfold higher number of Black-owned businesses than previously identified. [Technical.ly]
• Prince George’s County announced it will reimburse businesses $5,000 annually for each formerly incarcerated person employed. [Washington Post]
🗓️ On the Calendar
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