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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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Delaware

ISP investigating after Delaware County Sheriff deputy shoots at vehicle

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ISP investigating after Delaware County Sheriff deputy shoots at vehicle


MUNCIE, Ind. — Indiana State Police is investigating an officer-involved shooting that took place in Muncie early Sunday morning.

According to ISP, around 12:13 a.m., officers from multiple agencies were called to an event in the area of Bunch Boulevard and Martin Luther King Jr. Boulevard on reports of a person shot.

A Delaware County Sheriff’s Deputy arrived at the scene and approached on foot. While the deputy was walking, he made an encounter with a vehicle and discharged his sidearm at the vehicle.

The circumstances and reason behind why the deputy fired his weapon remain under investigation.

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The gunfire struck the vehicle, but no one was injured during the course of the incident.

The ISP Criminal Investigations Division is investigating the deputy’s use of force. Once the investigation is complete, the findings will be used by the Delaware County Prosecutor’s Office for review.

The investigation remains active and ongoing; no additional information is available at the time of this article’s publication.

This is a developing story; check back for updates.

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New study finds PFAS contamination widespread throughout Delaware River Basin

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New study finds PFAS contamination widespread throughout Delaware River Basin


A new study released by the Delaware River Basin Commission says PFAS contamination remains widespread throughout the Delaware River Basin, raising continued concerns about drinking water, wildlife and long-term environmental health across Pennsylvania and neighboring states.

The report, released Wednesday, summarizes more than 20 years of research into PFAS — commonly known as “forever chemicals” because they break down extremely slowly in the environment.

The study is especially significant for Northeastern Pennsylvania because several counties either fully or partially fall within the Delaware River Basin, including Pike, Monroe, Wayne and parts of Carbon County, where many communities rely directly on Delaware Basin waterways for drinking water and recreation.

Other NEPA counties with portions connected to the basin include Lackawanna, Luzerne, Susquehanna and Wyoming counties.

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Major waterways tied to the Delaware River Basin in Northeastern Pennsylvania include the Lehigh River, Lackawaxen River, Brodhead Creek, Tobyhanna Creek and portions of the Lackawanna River watershed, along with numerous streams throughout the Pocono region.

Researchers found PFAS contamination consistently present in surface water, sediment, fish and blue crab tissue samples collected at 21 locations throughout the basin.

Officials said contamination levels increased as the Delaware River moved downstream toward Delaware Bay, suggesting ongoing pollution sources such as industrial facilities, wastewater discharges and stormwater runoff.

“Safeguarding water for over 14 million people requires science-informed management actions,” DRBC Executive Director Kristen Bowman Kavanagh said in a statement.

PFAS are used in a wide range of products because they repel water and oil. They have been linked to a variety of health concerns and environmental risks.

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The study identified different PFAS compounds in different sample types, highlighting what researchers described as the complexity of contamination throughout the river system.

“The Delaware River Basin is a global hotspot for PFAS pollution,” said DRBC Senior Chemist and Toxicologist Jeremy Conkle, who led the study.

The commission said continued monitoring will focus heavily on the tidal Delaware River and tributaries impacted by development and population density.

Officials also announced the launch of a new interactive online mapping tool that allows the public to explore PFAS contamination data across the Delaware River Basin, including local watersheds.

The tool combines information from federal and state agencies along with other organizations to provide a regional look at known contamination sites.

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The DRBC will also host a public webinar on June 15 to review the study’s findings and demonstrate the new mapping application.

The Delaware River Basin provides water resources to more than 14 million people across Pennsylvania, New Jersey, Delaware and New York.



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Delaware history in News Journal May 31-June 6: royal visit, oil plea

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Delaware history in News Journal May 31-June 6: royal visit, oil plea


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  • Excerpts from The News Journal archives from May 31 to June 6 include a visit from Swedish royalty in 1926.
  • Wilmington mayor invites oil executives to consider onshore support site for offshore drilling in 1976.
  • Dover NASCAR race track plans upgrades in 2006 after 134,000 attend latest event.

The Delaware history column features excerpts from The News Journal archives including The Morning News and The Evening Journal. See the archives at delawareonline.com.

100 years ago, The Evening Journal, June 1, 1926

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Cordial welcome given Swedish royalty

Thousands of Wilmingtonians yesterday afternoon greeted Crown Prince Gustavus Adolphus and his wife, Princess Louise Alexandra, of Sweden, who were guests of the city. …

The royal party arrived on a special train at French Street Station and were greeted by a reception committee headed by Mayor Forrest. …

The crowd waiting at the station for a glimpse of the couple was so great that it had to be held back by ropes and guards.

When the Princess alighted from the train she was presented with a bouquet by Mrs. Christopher L. Ward, a member of the reception committee. …

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The royal visitors were escorted to waiting automobiles to begin their hasty trip to Old Swedes Church. …

During the trip, the Mayor pointed out the Old Town Hall, the public buildings which were decorated with the American flag and the flag of Sweden, and the William P. Bancroft School.

A crowd estimated at 3,000 persons greeted the city’s guests at the church. The royal couple entered by walking through the cemetery and a lane of Boy Scouts bearing American and Swedish flags. …

Near the entrance, the Prince and Princess were greeted by the Rev. Dr. Frederick M. Kirkus, rector of Trinity P.E. Church. …

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Inside, they were met by Bishop Philip Cook of the Episcopal Diocese of Delaware. …

A silver plaque was presented to the Prince bearing an engraving of Old Swedes Church and an inscription commemorating the royal couple’s visit. The plaque’s frame is made of wood from the old church. …

Prince Gustavus offered thanks for the warm welcome.

“I am deeply moved by being here at this church and to stand in the place where the first Swedes in this country offered their worship,” he said. “This day I shall always remember and the memory will always be pleasant.”

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Also from 100 years ago, The Evening Journal, June 1, 1926

Holiday automobile traffic heavy

An average of 12 cars a minute passed Station No. 2 of the State Police on the duPont Boulevard and the Glasgow-Elkton Road during a 12-hour check-up on Memorial Day yesterday.

In all, 9,101 cars passed the State Police station, according to Superintendent C.C. Reynolds of the State Police.

This was the heaviest traffic State Police have had to handle since last July 5, when 9,221 cars were counted in a 12-hour check-up….

Although there were several accidents, none were serious.

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State Police kept the heavy volume of traffic moving fast. On the Philadelphia Pike, the officers speeded up traffic by having slow-moving vehicles pull to one side at times, allowing faster cars to move ahead.

50 years ago, The Morning News, June 3, 1976

Mayor’s overtures may bring oilmen to Delaware

Mayor Thomas C. Maloney will try to convince visiting oilmen today that Wilmington and its port should be the onshore headquarters for offshore oil and gas development.

Maloney has organized a two-day show-and-tell for the American Petroleum Institutes’ Atlantic Offshore Committee, a group touring the East Coast looking for potential onshore support sites.

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Maloney’s invitation is one of the few direct Delaware overtures to the oil industry, which generally considers the state unfriendly. That attitude stems, in part, from Delaware’s Coastal Zone law banning refineries, superports and pipelines along the state’s shores.

Although the oil companies like Delaware because of the natural deepwater in the Delaware Bay and its proximity to where future drilling may occur, most oil industry representatives say there are enough other states actively soliciting onshore development. …

When the chairman of the committee heard of Maloney’s invitation, he wrote to other members, urging them to take a “hard look” at Wilmington.

Offshore oil drilling has been a controversy in Delaware for about five years. The Interior Department expects to hold a lease sale this summer for ocean bottom land 50 to 100 miles off the coasts of New Jersey, Delaware, Maryland and Virginia.

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20 years ago, The News Journal, June 5, 2006

Kenseth tames Dover’s ‘Monster Mile’ before planned changes

The scene was a familiar one after the NASCAR Nextel Cup series race at Dover International Speedway on Sunday.

Sunburned fans filed down from the grandstands, coolers in tow, heading back to their cars. The driver crews hustled their machinery back to the haulers.

And Matt Kenseth, who won the Neighborhood Excellence 400 presented by Bank of America, celebrated in victory lane. …

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An estimated crowd of 134,000 fans included Rocky and Gloria Chase of Cape May, N.J., who got married in the infield before the race with the Kent County Clerk of the Peace performing the ceremony. …

But nothing will be the same at Dover now that the speedway is about to undergo a five-year improvement that track officials dubbed “The Monster Makeover.”

Changes will include more parking, an outdoor concert area, improved concession areas and more skyboxes. All of it is being done to appeal to a younger demographic while not alienating hard-core fans who have supported the sport for years.

Reach reporter Ben Mace at rmace@gannett.com.

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