Feb. 3, 2012
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.
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.