Connect with us

Delaware

Delaware oncology startup raises $70M, highest in region  

Published

on

Delaware oncology startup raises M, highest in region  


Money Moves is a column where we chart the raises, mergers and other funding news of tech companies across the region on the third Wednesday of the month. Have a tip? Email us at delaware@technical.ly.

Health and the environment are the big winners in this month’s roundup of deals, investments and grants in Delaware.

Hydrogen, in particular, is an area that is doing especially well lately. Aside from Delaware’s inclusion in the Mid-Atlantic Clean Hydrogen Hub and some recent groundbreaking industry news from Versogen, Delaware-based Gore just made an overseas deal that could be another step toward making cars powered by hydrogen fuel cell systems widely accessible.

Add in some news in fintech, manufacturing, higher ed and agriculture, and Delaware looks to be doing well in its niche areas.

Here’s the first Delaware Money Moves of 2024:

Advertisement

Delaware precision medicine startup had the region’s biggest deal in Q4 2023

Synnovation Therapeutics, a precision oncology startup based at the Innovation Space at the Delaware Experimental Station, raised $69.9 million in December. That made it Greater Philadelphia’s largest venture capital deal of Q4 2023, according to the latest Venture Monitor report from PitchBook and the National Venture Capital Association.

Executive Director Hui Wang previously worked for Incyte, including as its associate director of small molecule therapy oncology programs. According to a recent report in BioWorld, the life sciences company and 2023 RealLIST Startups honoree has synthesized inhibitors called phosphatidylinositol 3-kinase α (PI3Kα) that may be used to treat cancer and other conditions.

Synnovation declined to comment at the moment about its plans for the funding.

Gore, Hyundai and Kia made a next-gen EV deal

A Hyundai Tucson FCEV fuel cell vehicle. (Flickr/DENNIS SCHROEDER/NREL)

Newark-based W.L. Gore and Associates closed a deal in Seoul, Korea with automakers Hyundai Motor Company and Kia Corporation. The three will collaborate on the development of advanced polymer electrolyte membrane (PEM) for hydrogen fuel cell systems for electric vehicles.  Financial figures were not disclosed.

Advertisement

Gore has been developing advanced materials for the auto industry for decades, and has a history of collaboration with Hyundai and Kia.

“We look forward to advancing our long-standing partnership with Hyundai Motor and Kia,” said Michelle Augustine, leader of Gore’s Clean Energy Business Group, via press release. “Leveraging our advanced PEM technology solutions, we will work together with Hyundai Motor and Kia to enable them to deliver fuel cell vehicles that provide a performance and cost advantage to consumers.”

More Money Moves

Companies:
Gore / Wilmington University
Subscribe

Knowledge is power!

Subscribe for free today and stay up to date with news and tips you need to grow your career and connect with our vibrant tech community.

Advertisement

Technically Media





Source link

Delaware

Done Deal: 695 Delaware Avenue – Buffalo Rising

Published

on

Done Deal: 695 Delaware Avenue – Buffalo Rising


Ellicott Development has expanded it local property portfolio. Ellicott’s 4628 Group Inc. purchased 695 Delaware Avenue on Wednesday for $1.025 million. Fred Kaplan Living Trust was the seller. The 8,454 sq.ft., three-story barn-like structure with mansard roofed addition is occupied by media production and marketing firm Crosswater Digital Media. It was the home of WKBW radio for a number of years. The property totals 0.4 acres in size with a large parking lot fronting Delaware Avenue.

The property is bookended by the Westbrook Apartments and Wilcox House apartment buildings, both ten-story structures. It sits across the street from 700 Delaware, the former Computer Task Group Building Ellicott purchased in 2018 and is now occupied by the NYS Department of Environmental Conservation.



Source link

Continue Reading

Delaware

Man, 77, dies after collision with teen driver near Hartly, police say

Published

on

Man, 77, dies after collision with teen driver near Hartly, police say


play

A 77-year-old man died following a two-car crash near Hartly on the morning of Dec. 10, Delaware State Police said.

The man, from the Dover area, has not been identified by police pending family notification.

Advertisement

According to police reports, the man was driving a Honda Accord east on Judith Road approaching Hartly Road about 9 a.m., as an 18-year-old woman was driving a Ford Focus south on Hartly Road approaching Judith Road.

Police reported that a preliminary investigation shows the Honda moved from the stop sign into the Ford’s path, causing a collision.

The man was pronounced dead at the scene. The woman, from Hartly, was treated at the scene. Police said she refused to be taken to a hospital.

Send tips or story ideas to Esteban Parra at (302) 324-2299 or eparra@delawareonline.com.

Advertisement



Source link

Continue Reading

Delaware

Delaware County approves 19% property tax hike in 4-1 vote

Published

on

Delaware County approves 19% property tax hike in 4-1 vote


MEDIA, Pa. (WPVI) — Delaware County Council voted 4-1 Wednesday night to approve a budget that includes a 19% property tax increase, despite objections from residents.

Property owners with a home assessed at $255,000 will pay about $188 more annually under the new budget, which takes effect next month.

Before the vote, some residents urged council to reconsider.

“I ask council to revisit the proposed budget, forgo voting tonight, avoid solving the entire deficit on the back of the hardworking taxpayers,” said Cynthia Sabitini of Upper Providence Township.

Advertisement

One councilmember agreed, but most did not.

“Simply put, I feel that the increase is too drastic,” said Councilmember Elaine Paul Schaefer.

“This needs to occur. I don’t like it, but it’s what has to occur,” said Councilmember Kevin Madden.

The hike follows a 23% increase last year and a 5% increase the year before. County officials say tax hikes were minimal for a decade, forcing steep increases now.

The current all-Democratic council argues they’re righting the financial ship after past Republican leaders didn’t do enough.

Advertisement

“For the first time in more than a decade, this budget puts Delaware County on track to have a truly balanced budget,” said Council Chair Dr. Monica Taylor.

County leaders say the increase addresses a structural deficit, but opponents blame spending on projects such as de-privatizing George Hill Correctional Center and creating a health department.

“How do you justify coming in with a deficit and then saying you’re repairing it after you grew it?” said Michael Straw of Media Borough Republicans.

Officials say future hikes should be minimal if the county makes any request at all, but some remain skeptical.

“I have my doubts that we won’t be seeing increases in the future,” Straw said.

Advertisement

Copyright © 2025 WPVI-TV. All Rights Reserved.



Source link

Continue Reading

Trending