Northeastern University

Sparks Economic Growth

About The Companies

Flightpath Biosciences is advancing narrow-spectrum, gut-sparing antibiotics for treating spirochetal infections like Lyme disease. The company’s innovations are based on groundbreaking research conducted by Dr. Kim Lewis, Professor of Biology at Northeastern and supported by federal funding from the National Institutes of Health. This federal investment was instrumental in advancing preclinical proof-of-concept studies, which provided the scientific foundation for Flightpath’s licensed antibiotic drug candidate.

Scipher Medicine is a biotech spinoff from Northeastern University that applies network medicine approaches to precision medicine, which helps tailor the most effective therapies for patients with autoimmune diseases. Founded in 2014 by Dr. Albert-László Barabási, Professor of Network Science at Northeastern University, and Dr. Joseph Loscalzo, Professor of the Theory and Practice of Medicine at Harvard Medical School, Scipher’s Disease Module Detection was created from a Northeastern-developed algorithm that identifies disease-associated genes and discovers therapeutic protein targets. This novel technology was created with federal funding and later licensed to Scipher, enabling the company to advance its research into patient and molecular data analysis.

MatrixSpace, co-founded by Northeastern University alumni Greg Waters and Professor Jose Martinez Lorenzo, leveraged federal funding to develop cutting-edge sensing and AI technologies that are crucial for national defense. The company’s initial project was funded by a Small Business Innovation Research (SBIR) grant from the U.S. Air Force in 2021. MatrixSpace’s AI sensing systems revolutionize outdoor monitoring by combining radar, optical sensors, and AI for real-time object detection and tracking. This technology enables smart sensors to visualize and identify objects, their distance and speed, and collect and report that data in real-time, providing information that supports security, safety, and autonomy applications.

Metamagnetics Inc., founded by Northeastern University Distinguished Professor and William Lincoln Smith Chair Professor Vincent Harris, builds upon research funded by the Office of Naval Research at the Naval Research Laboratory and Northeastern University. The company specializes in developing advanced radio frequency materials for the aerospace and defense sectors. Metamagnetics’ journey from relying on SBIR grants to working on larger Department of Defense programs showcases the importance of sustained federal support in nurturing defense technology innovation. As a veteran-owned small business, Metamagnetics exemplifies how federal funding can support both technological innovation and veteran entrepreneurship in the defense sector.

Economic Impact

Flightpath Biosciences has raised over $11 million in private funding and won several National Institute of Allergy and Infectious Diseases grants. Moving forward, the company plans to raise Series B financing in 2025, which will enable it to grow its team and further advance its mission.

Scipher has demonstrated significant economic growth since its inception. The company has raised $237 million in funding, created 200 jobs, and generated $20 million in revenue—nearly half of which was achieved in 2024. Following its most recent investment round in 2022, Scipher was privately valued at $500 million.

MatrixSpace’s growth demonstrates the success of federal investment in defense innovation. They have raised nearly $40 million in funding and generated over $2 million in commercial revenues in 2024. MatrixSpace projects a fourfold increase in 2025, with plans for substantial staff expansion.

Metamagnetics reported annual revenue of $15.8 million in 2024, representing a 37% growth from 2023 and projects a 2025 revenue of $21 million, indicating a 33% growth. While market penetration remains low, increased adoption of their products suggests significant room for growth.

Big Picture

Flightpath Biosciences, Scipher Medicine, MatrixSpace, and Metamagentics exemplify how federally funded research at American colleges and universities can lead to breakthrough discoveries that fuel new commercial ventures and directly address critical challenges. These companies collectively demonstrate the significant economic impact of Northeastern University’s research initiatives, contributing to job creation, technological innovation, and economic growth across various sectors including biotechnology and defense.