(Photo by Flickr user zack Mccarthy, used under a Creative Commons license)
A handful of Philly-area startups across industries such as biosciences and edtech have announced some late-summer fundraising rounds ranging from just under $1 million up to $50 million.
Late last month, Group K Diagnostics, a Center City-based life sciences company that makes a microfluidics-based, point-of-care diagnostics platform, told Technical.ly that it had raised about $1 million, all from the same sources from which it had previously received funding.
“We are entering a very exciting time in our development strategy with new projects in the pipeline, added team members and expanded manufacturing and R&D capabilities,” said Kimberly Cox, the company’s SVP of strategic communications.
The raise will support those growth initiatives, and help to bring more accessible and affordable point-of-care testing to more people around the world, she added.
In a blog post announcing the news, the education technology platform said that its raised funding was now up to $4.75 million, and it will use the Series A to accelerate the company’s customer growth and platform expansion.
“We know personalization works, but it also breeds complexity,” Kickup CEO Jeremy Rogoff said in a statement. “KickUp helps school districts organize that complexity, so they can focus on the important work: growing and retaining great teachers.”
And on Tuesday, Navrogen Inc., a cancer-fighting biotech company, announced a $3.2 million raise.
The company set up shop at St. Joseph’s University earlier this year, Philly Business Journal reported, and focuses on the discovery of tumor produced HIO-factors that are associated with cancer prognosis and therapeutic response of immune-mediated anti-cancer therapies.
“We are taking on the challenge to develop a new class of anti-cancer therapies for patients whose cancers are associated with elevated HIO-factors and are therefore in need of new medical options,” said Luigi Grasso, the company’s chief scientific officer, in an announcement.
Two other notable raises in the bioscience community are a $15 million raise by Inovio Pharmaceuticals, Inc. and a $50 million raise by Harmony Biosciences II, Inc. — both based in Plymouth Meeting — according to SEC filings. Neither company responded to requests for comment. Inovio also announced on Wednesday that it had received a $4.6 million National Institutes of Health grant, along with partner The Wistar Institute.-30-
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