Short on time this week? Here’s the news that you need to know this week from Rochester’s startup, entrepreneurial, and small business scene.
From the web:
- Mayo Clinic Ventures Portfolio Company Purchased in $410M Deal. On August 3rd the Mayo Clinic Ventures backed startup, Assurex Health, was purchased by Myriad Genetics for $225M upfront, with additional performance based $185M potential. Assurex Health developed an algorithm, called the GeneSight Psychotropic test, which analyzes the genome of mental health patients and determines if they may adversely respond to psychotropic medications.
- Gopher Angels invests $11M in First 4 Years; To Host Angel Capital Investment Conference. Gopher Angels was originally founded in 2012 to support startups with connections to Minnesota and provide an inclusive angel investor network. The group has invested $11M in the past four years in high-potential startups and will host the Midwest Regional Conference of the Angel Capital Association this September in Minneapolis.
- Not just Uber- City also Reaching out to other Startup Ride-Share Services. Rochester City Administration is beginning to reach out to other startup ride-share service providers, while they continue their research efforts around Uber. The City Administration is in talks with smaller services providers, which they believe may be more cooperative than the larger players in this space.
- Vyriad Announces Agreement with Imanis Life Sciences for Development of Theranostic Tests to Predict Responsiveness to Oncolytic Virotherapy. Rochester-based Vyriad and Imanis Life Sciences have signed a license collaboration agreement to develop therapeutic and diagnostic tests to assess cancer patient’s response to Vyriad’s virus-based oncolytic therapeutics. These tests will include reporter genes for use as diagnostic markers in patients. Imanis will develop the tests for use in Vyriad-sponsored clinical trials.
- Heard on the Street: New Coffee Shop Brewing on South Broadway. A third Dunn Bros. Coffee location will be opening along South Broadway, hopefully this October, in the Broadway Commons Commercial area.
From Rochester Rising:
- Bleu Duck Brings Fresh, Kitchen Forward Dining Concept to Downtown Rochester. Bleu Duck Kitchen opens up today on the first floor of the Conley-Maass Building, at 14 4th Street SW. The restaurant is the first that both Chef Erik Paulsen and Chef Erik Kleven have opened of their complete original design.
- Commercial and Industrial Opportunities in Stewartville: Schumann, Tebay, and Bucknell Business Parks. Rochester’s close neighbor, Stewartville, has three commercial and industrial business parks with acreage available for purchase. The flexibility of these plots, plus the financial incentives from the city’s Economic Development Authority, makes Stewartville an attractive place for business development.
- Benike Construction Reveals Untold Stories of Conley-Maass Building Rehabilitation. Construction and renovation of the Conley-Maass Building is almost complete. Mike Benike, Project Manager at Benike Construction, revealed some lesser known stories about the project. Among other things, the construction crew found a well in the basement during the demolition process. Benike points to the Conley-Maass Building as an example of how building preservation should work.
- Rochester Rising Episode 6: Launching a Genome Engineering Startup with Jake Bergren. A Mayo Clinic scientist and young entrepreneur, Jake Bergren, is developing a new startup based on genome engineering technology. Genome engineering allows researchers to precisely edit the DNA, or all of the genetic material, of an organism. The technique has wide spread implications from human health to agriculture. Jake knew little about business development before his time at Mayo Clinic and credits a group within the Clinic, called Byolincs, with educating him on entrepreneurship.
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