$118M for addiction care model
ANN ARBOR, MI—Circumstances created by the pandemic dramatically increased the risk factors associated for substance use. WorkIt Health is establishing a new model for addiction care with health care and technology partners. According to a press release, 84% of Workit members stay in the program longer than 30 days, compared to an industry average of 33% of patients staying in traditional treatment the first month. The company just completed a funding round of $118 million, led by Insight Partners, with support from FirstMark Capital, CVS Health Ventures, BCBS Venture Fund and 3L Capital.
Indy startup gets award for ultra-cold vaccine storage
BLOOMINGTON, IN—ArcticRx, a startup that developed an ultra-cold system to protect vaccines during lengthy trips, has won first place at the 2021 Crossroads Pitch Competition hosted by Bloomington-based business incubator The Mill. The founders will receive $10,000 in cash, plus a package of startup and business services.
Virus effects on older adults
ST. LOUIS, MO—The National Institute on Aging of the NIH has awarded researchers at Washington University School of Medicine in St. Louis a five-year, $9.1 million grant to study resilience in older adults before and during the COVID-19 pandemic, as well as the pandemic’s cognitive and emotional effects on older adults.
Tech worker relocation during the pandemic
MICHIGAN—As part of a broader $1.52 billion proposal for using federal American Rescue Plan Act funding that Congress approved in March, Michigan Governor Gretchen Whitmer has created a Startup Resiliency Initiative. The initiative would put $140 million into direct equity investments in tech startups with venture capital and angel investors.