Xconomy Report: Finding The Next Facebook

By Xconomy.com

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Feb. 3, 2012

mark zuckerberg facebook

Facebook creator Mark Zuckerberg greets a crowd at Harvard on Nov. 7, 2011. (AP Photo/Rose Lincoln, Harvard University)



CAMBRIDGE, Mass. — While most of the tech world is analyzing Facebook’s impending IPO, a new effort at Harvard University is trying to find the next Facebook — and keep it in Cambridge. The Experiment Fund, an unusual partnership between the university and venture capital firm N.E.A., will make seed investments in student-led startups across software, energy and health care. The aim is to support the best young talent while contributing to the growing early-stage funding ecosystem in Boston.
 
In life sciences news, the FDA this week cleared three drugs developed in part by Boston-area biotechs: a treatment for cystic fibrosis from Vertex Pharmaceuticals, a once-weekly diabetes injection from Alkermes and its San Diego partner Amylin Pharmaceuticals and a skin cancer drug developed by Curis and Roche unit Genentech.
 
Finally, iRobot announced it has backed inTouch Health to the tune of $6 million, in a move aimed at breaking into the health care market. InTouch makes robotic devices that allow physicians to care for patients from afar. 



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The weekly roundup of business, technology and life science news from our partners at Xconomy.com airs every Friday on 89.7 Boston Public Radio.

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