June 18 2021

Week in Review: June 14 – June 18, 2021

Stay up-to-date on business and economic development happenings in the Capital Region with the CEG Economic Development Week in Review. Don’t miss out on the developments that are transforming the region by following us on:


Saratogian: Four students from Capital Region P-TECH taking part in paid IBM internships 


New York hemp farmers consider growing legal marijuana

“When Bradley McWhorter entered the hemp industry a few years ago, he started small. He added just 4 acres of hemp onto his family farm, Blackberry Falls Farms in Washington County, and has since reduced the crop to 1.5 acres.

That approach turned out to be a smart decision. Other farmers he knew put in 20 to 40 acres, similar to what many others did throughout the state, leading to an oversupply of hemp. It led to the downfall of those operations for many farmers.”

United Aircraft Technologies raises $1.7 million

“The Troy startup United Aircraft Technologies has recently raised a total of $1.7 million.

That includes $1.35 million in a round of oversubscribed financing — meaning there were more investors interested than there was room to accommodate them, and the startup already has a head start on its next funding round — as well as $350,000 from recent grants and competitions.”

Regeneron ‘s COVID cocktail just as effective at lower dose

“The U.S. Food and Drug Administration has approved a new lower-dose version of its COVID-19 antibody treatment that keeps people infected with the virus with moderate symptoms from being hospitalized or dying.

Regeneron makes the drug – a combination of two designer antibodies – in its East Greenbush factory. It is given out free by the U.S. government and is administered through an IV typically. The new dose, which is 600 mg of the antibody casirivimab and 600 mg of the antibody imdevimab, is half the previous dose yet just as effective, Regenron said.”

Ripley aims to reduce waste with spray made from silk proteins

“A chemical and biological engineering Ph.D. student at Rensselaer Polytechnic Institute is developing a spray that he says could slow the decomposition of food by two to three times and prevent waste, an expensive problem in the industry.

Alex Connor founded the startup Ripley, which is developing a vegan mixture of water with a small amount of silk proteins, which creates a sort of biological barrier when sprayed on food.”

Somml Health ready to enter the market with its remote patient monitoring technology

“The startup Somml Health is readying to enter the market and meet with investors after promising results from a pilot with CDPHP.

The company uses a software platform that allows patients with chronic illnesses to more easily stay in contact with multiple caregivers, including primary and specialty care, family members, and nonprofits.”


Funding Partners