It’s Time we Unpack the Boston Startup Space
Welcome to our newsletter, your all-access pass to Boston’s startup ecosystem.
Since last time, we sat down and had a super insightful conversation with Bill Doherty of Day & Ross (more on that below!). This week, we take a dive into Alkeus Pharmaceuticals and understand how their molecular drug is set to defeat an eye disease.
We then go on to explore some notable events in the Boston startup scene, featuring Greentown Labs, Fortify, & Mass Life Sciences Center CEO Kenn Turner!
And don’t forget to take a look at some of the fantastic resources we’ve provided in our “Toolbox & Tactics” section below.
Thanks for subscribing,
Justin @ heyfounded
A brand new episode about when to hire (and fire) a co-founder
Customer-led & corporate innovation with Bill Doherty, CEO of Day & Ross:
Join us for an insightful episode as we sit down with Bill Doherty, CEO of Day & Ross, a prominent player in the trucking and fulfillment industry. In this conversation, Bill shares his expertise on the future of the industry, corporate innovation, and the power of customer-led innovation. Gain valuable insights on emerging trends, fostering a culture of innovation, and staying customer-focused in a rapidly-evolving landscape.
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Startup of the Week
Alkeus Pharmaceuticals – A Boston-based pharmaceutical company curing an eye disease
Alkeus is a pioneering biotech startup co-founded by Leonide Saad, Ph.D. and Ilyas Washington, Ph.D. with a groundbreaking mission to revolutionize the treatment of degenerative eye diseases. Their innovative approach focuses on developing a unique molecule, gildeuretinol (ALK-001), designed to address a critical issue in these diseases – the clumping, or dimerization, of vitamin A in the eye. This clumping process has been identified as a key factor contributing to the irreversible retinal damage commonly observed in various eye conditions. By tackling this underlying cause, Alkeus aims to provide a new therapeutic avenue and significantly improve patient outcomes in the field of ophthalmology.
$150MM Series B Raise = Progress
In an exciting development, Alkeus has recently secured an impressive $150 million in a Series B funding round. This substantial investment underscores the immense promise of ALK-001 and demonstrates a strong vote of confidence from investors. The funds will play a pivotal role in supporting Alkeus’ efforts to advance their clinical program, navigate the regulatory process, and ultimately bring ALK-001 to market. This significant financial backing will enable Alkeus to accelerate the registration and launch of their groundbreaking drug, potentially paving the way for a transformative breakthrough in the treatment of degenerative eye diseases.
For more information about their offerings, visit their website at https://alkeuspharma.com/.
🥁 The Boston Beat
All the juicy gossip, trends, and seismic shifts shaking up our very own startup scene
Greentown Labs announces partnership with Saint-Gobain for 2023 Greentown Go accelerator program
Startups selected for the program will receive mentorship, networking opportunities, and a $25,000 stipend, along with access to Greentown’s community and the opportunity to engage with Saint-Gobain for potential partnerships. This partnership and program demonstrates Greentown’s continued commitment to driving innovation in the GreenTech space. (Source)
Fortify raised $12.5MM in its most recent funding round
Fortify, a firm commercializing new materials and process capabilities for additive manufacturing, is set to further progress in transforming the additive manufacturing space with a recent $12.5MM funding round with investors including Lockheed Martin Ventures and RTX Ventures. (Source)
An important perspective on the state of VC funding
During a panel discussion at the BIO International Convention in Boston, Massachusetts Life Sciences Center President and CEO, Kenn Turner, expressed his concerns about the racial and gender disparities in venture capital funding. Turner’s remarks highlighted the need for government officials to address these disparities and promote a more equitable funding landscape. (Source)
🛠️ Toolbox & Tactics
Bite-sized wisdom & tech to dodge startup pitfalls
Underscore VC: Startup Secrets Video Series
Underscore VC, a Boston-based early-stage VC has recently released a series of videos outlining many of the basics involved in securing a seed round of financing. It’s an amazing resources for early-stage founders and beyond with a wealth of information presented in the form of high-quality videos. Take a look!:
Underscore VC Startup Secrets
A “grouding” perspective on where Boston stands in the world of startups & innovation
This is a great read put out by TechCrunch that provides a rather objective, quantitative and qualitative analysis on where Boston stands in the startup ecosystem in the USA at large. Our city has plenty of qualities that make it unique! Hint: our array of university talent sure helps.
TC Boston Read
🌯 The Wrap
Our final thoughts on this week’s whirlwind, in a nutshell
heyfounded stands for the success of Boston’s startup community – let’s achieve it together. Stay tuned until next time! Thank you for taking a look at our second ever newsletter.
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Justin @ heyfounded