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Delaware oncology startup raises $70M, highest in region  

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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:

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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.

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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.”

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Police identify victim of Wilmington motorcycle crash

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Police identify victim of Wilmington motorcycle crash


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State police identified 29-year-old Brian Silva of New Castle as the victim of a fatal motorcycle crash in Wilmington.

Silva was riding a Harley-Davidson northbound on Dupont Highway approaching Millside Drive in Wilmington around 3:30 p.m. on Feb. 27 when it collided with the rear of a stopped Lexus at that intersection, police said. Silva was ejected from the motorcycle. He was taken to the hospital, where he died.

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Delaware State Police are still investigating this incident, and anyone with information is encouraged to reach out to them or to Delaware Crime Stoppers.



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When will Delaware warm up? After snow, ice Tuesday, temps will rise

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When will Delaware warm up? After snow, ice Tuesday, temps will rise


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Meteorological winter has ended and we’ve entered spring.

However, there’s still a last winter blast hitting Delaware early this week before a spring warm up hits at the end of the week.

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Here’s a look at the Delaware forecast.

Will Delaware see more snow?

After a brisk Monday, March 2 with sunny skies and highs only reaching 35 degrees, there’s a chance of snow after 1 a.m. Tuesday, March 3 with freezing rain after 4 a.m. in New Castle County. Snow and freezing rain are expected before noon Tuesday, March 3. The county may receive less than a half inch of accumulation.

In Kent County and Sussex County, there’s a chance of snow and freezing rain after 1 a.m. Tuesday, March 3.

When will it warm up in Delaware?

It will start feeling like spring as warmer air moves into the First State on Tuesday evening, March 3, but wet weather is coming as well.

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Rain is predicted from Tuesday, March 3 through Friday, March 5, but spring-like temperatures will make it bearable. In New Castle County temperatures will range from the mid-50s on Wednesday, March 3 to the 60s on Thursday, March 4 and Friday, March 5. Kent County should see temperatures in the 60s and Sussex County will see 70s during the mid- to later part of the week

What’s the weekend forecast?

Remember when you were daydreaming about warm weather during the polar vortex or blizzard? Well, it is coming next weekend.

The forecast is calling for sunny to partly sunny skies throughout Delaware on Saturday, March 7 and Sunday, March 8. Highs will reach the upper 60s in the north to the low 70s in the south.

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Law enforcement increases security across Delaware Valley after U.S. strikes on Iran

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Law enforcement increases security across Delaware Valley after U.S. strikes on Iran


PHILADELPHIA – Law enforcement agencies across the Delaware Valley are boosting security at religious and cultural sites following U.S.-Israeli strikes against Iran, even as officials say there is no credible threat to the area.

The Department of Homeland Security also issued an alert after Operation Epic Fury, warning agencies to remain vigilant for suspicious activity despite assessing that a large-scale attack on U.S. soil is unlikely.

Hours after the strikes, protesters gathered in cities nationwide. In Phoenixville, dozens rallied Saturday afternoon, calling the military action “senseless.”

“Stop the war. People are suffering in this country with food prices, rent, healthcare, money for the people’s needs here,” said Curry Malott, a West Chester University associate professor of educational foundations and policy studies.

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President Donald Trump has said the joint operation would eliminate Iran’s nuclear and military programs and change the regime. Some demonstrators criticized the president’s decision.

“Trump has broken his campaign promises with no new wars, and here he is going into another,” said Kyle Horstmann of Phoenixville.

Republican Congressman Brian Fitzpatrick said in a statement that Iran poses a grave threat, adding, “Iran and its proxies are responsible for countless deaths of Americans and our partners. That record is long, deliberate, and undeniable-and it cannot be ignored.” He adds sustained military engagement should be done with consent of Congress.

Democratic leaders, including Senator Andy Kim, argued the president failed to seek congressional approval for the strikes.

“I have zero confidence in this president who has so flagrantly violated our constitution,” Kim said. He called for Congress to immediately reconvene to vote on a war powers resolution.

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“I hope there can be unanimity that when it comes to strikes of this magnitude, when American service members lives are at risk, what greater responsibility do we have in Congress than to look out for our service members and the national security of our country?” he said.

The Homeland Security alert also warned of potential low-level cyberattacks targeting U.S. networks, adding another layer of concern for authorities monitoring threats at home.

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