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The Wilmington-based contract research organization said it will undertake “restructuring initiatives” to cut costs as it feels the impact of its biotech clients’ own financial troubles.
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The Philadelphia company is seeking to raise a total of $82.5 million from its Series B round.
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The funds deployed to EMSCO Scientific are the first to be invested from the Innovate Capital Growth Fund, a fund launched in 2022 by the Enterprise Center to deploy capital to minority- and women-led businesses.
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Another public company based in the region is being taken private.
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The planned acquisition comes six months after Novant added three hospitals and 27 physician clinics in South Carolina in a $2.4 billion deal and just a year after it acquired a 30% interest in a Myrtle Beach hospital. Here are the details on Novant
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The largest owner of rehabilitation hospitals in the United States has opened a new 50-bed facility.
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The number of new firms hiring their first employees declined 27% last year in the St. Louis metro area, dropping to a level slightly above the startups created in 2016 as the nation emerged from a recession.
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Kevin Riggs, also a majority stakeholder of local engineering firm Cole & Associates, said his background in science informed his work in the cannabis industry, calling commercial cannabis "one of the most underestimated technical and scientific pro
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