Flagship Ventures, Gainesborough & Peponi Investments, JK&B Partners, and the Massachusetts Technology Development Corporation.
—Concert Pharmaceuticals of Lexington, MA, forged an agreement worth $35 million up front and perhaps more that $1 billion in total with drug giant GlaxoSmithKline. The deal centers on the startup’s technology for replacing some of the hydrogen atoms in existing drugs with deuterium, changing the drugs’ properties and, hopefully, improving their performance and side-effect profile.
—Boston- based American Well inked a deal with Golden Valley, MN-based OptumHealth, a unit of the country’s largest health insurer, UnitedHealth Group, that could expand the availability of American Well’s system for providing over-the-Web doctor visits. Before this deal, only the Hawii and Minnesota franchises of Blue Cross/Blue Shield had hired American Well to implement the service for their members. Wade interviewed American Well CEO Roy Schoenberg about the deal’s implications for the startup.
—Somerville, MA-based Founder Collective, a new seed-stage venture fund, raised $30 million from limited partner investors, according to Eric Paley, a general partner and founder of the firm and a former senior advisor to IDG Ventures (now Flybridge Capital Partners).
—Massachusetts General Hospital spinoff Life Image of Newton, MA, raised $2.5 million in a Series A round of equity financing. The startup is developing software and services that allow healthcare providers to store, transfer, share, index, and search radiological images.
—Teen social network provider Hangout Industries of Boston, MA, added $4 million onto its Series A financing round, bringing the total for the round to $9 million. Highland Capital Partners and Polaris Venture Partners contributed the new funds.
