Biogen and MedRhythms to Develop and Commercialize a Prescription Digital Therapeutic Targeting the Treatment of Gait Deficits in Multiple Sclerosis

(From MedRhythms has entered into a license agreement with Biogen Inc. to develop and commercialize an investigational prescription digital therapeutic for the potential treatment of gait deficits in multiple sclerosis. As part of the agreement, MedRhythms will receive a $3M upfront payment. MTI played a significant role in the growth and development of the Portland-based company. Read more »

Kinotek names IDEXX, Covetrus veteran as new CEO

(From Maine Startups Insider) Kinotek developed a digital health platform which uses motion capture technology and data visualizations to assist medical and fitness professionals. The startup recently named Patricia Panaia, as its new CEO. MTI provided early-stage funding to the Portland-based company. Read more »

Tanbark raises $1.7M for sustainable packaging

(From Maine Startups Insider) Tanbark Molded Fiber Products aims to replace single-use plastic packaging with a sustainable option. Recently the Portland-based company raised $1.7 million in seed funding to fund its first phase of growth. MTI has worked closely with Tanbark on a number of projects. Read more »

Dutch cleantech startup to establish US headquarters in Portland

(From Mainebiz) Headquartered in Portland, Finsulate makes antifouling technology for vessels and floating marine equipment. MTI supported Finsulate as one of the three Maine companies selected to participate the Cleantech Open Northeast accelerator last year. It is also a finalist in the 2022 Top Gun Showcase business-pitch contest. MTI will sponsor a $25,000 cash prize for the competition. Read more »

2022 Best Tech Startups in Portland (Maine)

(From The Tech Tribune) The Tech Tribune staff recognized the very best tech startups in Portland, and the majority are MTI portfolio companies! Some of the factors considered were revenue potential, leadership team, brand/product traction, and competitive landscape. Read more »