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Baltimore Business Journal
Old Line Capital raises $5.3M venture fund, aims to double portfolio companies
A Columbia-based venture capital firm has raised a $5.3 million fund, with plans to double its portfolio companies. Old Line Capital Partners hopes to use the fund, its first, to focus on seed, pre-seed and bridge rounds, with an average investment of between $100,000 and $200,000. The firm hopes to double its portfolio from 12 companies to 20-25. The fund will also allow Old Line Capital to double down on some of its previous investments.
8 things you need to know today (Unlocked)
About 600 local residents were without power as of 1 a.m. due to severe thunderstorms Monday evening. The area saw strong winds and heavy rainfall, at its peak 0.37 of an inch fell in the 7 p.m. hour. Thankfully, we will be spared a storm today. But temperatures will still...
Baltimore startup Delfi Diagnostics raises $225M with plans to change how lung cancer is diagnosed
Baltimore biotechnology startup Delfi Diagnostics has raised $225 million as it embarks on a 15,000-person trial for its early cancer detection technology. The oversubscribed Series B round was the second mega-deal of the year in Greater Baltimore. DFJ Growth led the round, with participation from local Baltimore institutions such as T. Rowe Price Associates, Brown Advisory, PTX Capital and Rock Springs CapitalNational institutions such as Eli Lilly and Co., Point 72, Menlo Ventures and others also participated. The company previously raised $100 million in a Series A round in January 2021, and all of Delfi's previous investors also joined in the Series B round. Delfi began the fundraise in early 2022 and closed in July.
Center/West developer, residents strike agreement on disputed demolition
"I want to cry right now," said Sonia Eaddy, a homeowner who has been battling La Cite Development. "This has been a long day coming, since 2004. This victory is for all of us in Baltimore City." THIS ARTICLE IS FOR SUBSCRIBERS ONLY. Continue reading with your subscription. Access 4...
8 things you need to know today (Unlocked)
I hope everyone had a restful weekend. We're due for more thunderstorms this afternoon, and temperatures will be in the low 90s with high humidity. Thankfully, the storms do help bring temperatures down, at least for a few hours anyway. ICYMI on Saturday, Baltimore was host to an English Premier...
Baltimore startup raises $3.5M as it prepares to seek FDA approval for new pneumonia test
A Baltimore medical company that aims to make it easier to diagnose a deadly type of pneumonia raised $3.5 million in an oversubscribed seed round. Pearl Diagnostics, led by Johns Hopkins University Professor Kieren Marr, plans to use the funding to focus on manufacturing, in preparation for the commercial launch of its urine antigen test for fungal pneumonia. The test is already approved for sale in Europe and the company is currently seeking approval in the United States as well. Pearl plans on submitting its test for FDA approval at the end of this year.
Mike Tyson's cannabis company expands sales into Maryland
Boxer-turned-cannabis entrepreneur Mike Tyson is now selling his brand of medical marijuana at Maryland dispensaries. His company, Tyson 2.0, announced Thursday that it has expanded distribution into four new states, Arizona, Ohio, Pennsylvania and Maryland, through its partnership with Columbia Care, a New York-based cultivator and distributor of cannabis products.
Designs unveiled for Harbor Point apartment tower show impact of climate change on waterfront development
"Climate change is something every waterfront developer has to think about. It’s absolutely something our firm considers and takes into account as we design the buildings and parks at Harbor Point," said a spokesman for Harbor Point developer Beatty Development. THIS ARTICLE IS FOR SUBSCRIBERS ONLY. Continue reading with...
Baltimore-area housing market sees 'pull-back' as inventory increases for second straight month
The Baltimore area isn't the only housing market beginning to feel the effects of inflation and higher interest rates — many other areas in the Northeast and Midwest are starting to see a cool off too. THIS ARTICLE IS FOR SUBSCRIBERS ONLY. Continue reading with your subscription. Access 4...
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