Friday, February 23, 2024 |
FOLLOW US:

Tech company closing isn’t sign of Baltimore tech collapse

February 8, 2024
Baltimore Skyline

It can be tempting to think of Baltimore’s burgeoning tech ecosystem as a kind of Jenga tower, fearing that the whole thing will crumble when you pull out one block. Those worries surfaced last week when Wisconsin-based Exact Sciences announced it was closing its Baltimore office, laying off 58 employees. The cancer-diagnostics giant, which employs 6,400 people, bought Thrive Earlier Detection, a Johns Hopkins Technology Ventures spin-out, in a 2020 deal worth a whopping $2.15 billion.

Article Source: The Baltimore Banner

The Morning Rundown

We’re staying up to the minute on the issues shaping the future. Join us on the newsletter of choice for Maryland politicos and business leaders. It’s always free to join and never a hassle to leave. See you on the inside.