Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=8b547c44-80f7-46f9-bc7f-ce07cdbc3278 Date 12/9/2014 Company Name Illumagear Mailing Address 1752 NW Market St. Seattle, WA 98107 USA Company Description ILLUMAGEAR’s mission is to illuminate people working in high-risk environments, making them safer and more prepared. We’ve been on work sites. We know how dangerous they are. Every year hundreds of workers die and … Continue reading “Illumagear Obtains $255,000 New Financing”
Category: Seattle
Pioneer’s Lament: Lack of Checkpoint Immunotherapy For Blood Cancer
It might be hard to tell these days, but cancer immunotherapy can be disappointing, too. In a lunchtime review Monday at the American Society of Hematology annual meeting in San Francisco, Ronald Levy, a Stanford University professor with a long, storied history in the field, reviewed the trickle of clinical research presented at the meeting … Continue reading “Pioneer’s Lament: Lack of Checkpoint Immunotherapy For Blood Cancer”
Immunotherapy Confidence (And Audience) Abundant At ASH T-Cell Talk
With cancer immunotherapy tallying impressive patient results and new drug approvals, people in the field are confident about expanding its scope. That confidence was abundant in back-to-back presentations Sunday at the American Society of Hematology annual meeting before an audience into the thousands. Two heavyweights in cancer immunotherapy, Carl June, a professor at the University … Continue reading “Immunotherapy Confidence (And Audience) Abundant At ASH T-Cell Talk”
The Risks and Opportunities in a Startup: Age 5 Years and Up
In my last two articles, I explored the top risks and opportunities that startups face during their first five years of existence. In this conclusion to the series, I’d like to discuss the final phase of startup growth—Year 5 and up. If your business has made it to the crucial 5-year mark, that’s a good … Continue reading “The Risks and Opportunities in a Startup: Age 5 Years and Up”
Seattle Roundup: Blab, Amptab, Icbrg.io, Dropbox, Alibaba, 9Mile, Fledge
Seattle’s cloud computing cred was bolstered by yet another big cloud player planning a local office. This time it’s Dropbox, which will be competing for local talent with just about everyone else, as a new survey of Seattle CIOs reveals. Meanwhile, startups Blab, Amptab, and Icebrg.io announced new funding rounds. And if you want to … Continue reading “Seattle Roundup: Blab, Amptab, Icbrg.io, Dropbox, Alibaba, 9Mile, Fledge”
Innovating with Bitcoin at MIT
In November, we began distributing $100 in Bitcoin to every undergraduate student at MIT. A large share of the 4,500 eligible students participated in the project. Bitcoin is an innovative payment network that allows for instant peer-to-peer transactions with zero or very low processing fees on a worldwide scale. The objective of the study is … Continue reading “Innovating with Bitcoin at MIT”
Innovation Hub: Are Entrepreneurs a Dying Breed?
It feels like every day, we hear another story of a 22-year-old who sold his app for millions. But the truth about entrepreneurs may be very different. In fact, if you look at the official data, entrepreneurship in the U.S. has been in decline for over thirty years. We talked to Ben Casselman, the chief … Continue reading “Innovation Hub: Are Entrepreneurs a Dying Breed?”
Icebrg.io Receives $2,500,000 Seed Funding
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=e77abc3b-a4c2-4c54-b361-f676c3f2e398 Date 12/5/2014 Company Name Icebrg.io Mailing Address Undisclosed Seattle, WA 98108 USA Company Description Iceberg is a software platform that allows business developers to develop enterprise level software without them necessarily needing them to write any custom code. Website http://www.icebrg.io Transaction Type Venture Equity Transaction Amount $2,500,000 Transaction Round Seed Proceeds … Continue reading “Icebrg.io Receives $2,500,000 Seed Funding”
Update: Paul Allen’s Artificial Intelligence Push, Research Grants
Researchers at the Allen Institute for Artificial Intelligence (AI2), led by CEO Oren Etzioni, recently scored a D on a fourth-grade science test—a notable accomplishment in the field. OK, it was actually their flagship artificial intelligence effort, Project Aristo, which combines leading-edge technologies in machine reading, reasoning, and something approaching common sense to tackle progressively … Continue reading “Update: Paul Allen’s Artificial Intelligence Push, Research Grants”
West Coast Biotech Roundup: Amgen, Ariosa, Avanir, Audentes & More
Where is biotech innovation? All over, we would contend, but according to The Scientist magazine, San Diego has been an especially good place to look this year. The publication listed its top 10 life science innovations of 2014, and five are from San Diego companies. Fifty percent. It might have helped that 40 percent of … Continue reading “West Coast Biotech Roundup: Amgen, Ariosa, Avanir, Audentes & More”
Blab Lands $8,800,000 Series B Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=6f4053ae-6e9c-4b12-b9fe-a4a31ba1b36d Date 12/4/2014 Company Name Blab Mailing Address 101 Yesler Way Seattle, WA 98104 USA Company Description Blab is a pioneer in the category of Predictive Social Intelligence. Blab applies proprietary technology and big data processing to contextualize and predict tomorrow’s online conversations today. Website http://www.blabpredicts.com Transaction Type Venture Equity Transaction Amount … Continue reading “Blab Lands $8,800,000 Series B Financing Round”
Amptab Secures $700,000 New Funding
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=9e8d2ce6-18c3-422b-998a-2a084e9956e0 Date 12/3/2014 Company Name Amptab Mailing Address 821 2nd Ave. Seattle, WA 98104 USA Company Description AMPTAB creates software that connects and manages all products in the supply chain to provide full-service solutions from commodity to consumer. AMP’s mission is to provide a software platform that empowers every employee and organization … Continue reading “Amptab Secures $700,000 New Funding”
Inslee, Jackson, and New Report on Washington’s STEM Skills Shortfall
Washington state has a well-known mismatch between the tech industry’s demand for workers and the state education system’s ability to provide them. A new report released Tuesday at the Washington STEM (Science, Technology, Engineering, and Mathematics) Summit points to the causes and potential solutions to that mismatch, and Washington Gov. Jay Inslee said solving the … Continue reading “Inslee, Jackson, and New Report on Washington’s STEM Skills Shortfall”
More Biotechs Belly-Up These Days but Dendreon Still “One of a Kind”
Biotech companies rarely go bankrupt. Sitting where I sit, that bit of conventional wisdom comes around every so often, although it doesn’t generate quite the same buzz as Halley’s Comet or a wardrobe malfunction. Bankruptcy just doesn’t get America jawing over the water cooler on Monday morning. (I can’t imagine why.) If your cooler is … Continue reading “More Biotechs Belly-Up These Days but Dendreon Still “One of a Kind””
Socrata Opening More Government Data with $30M from Sapphire Ventures, Others
Socrata, the Seattle company making a cloud-based software platform for accessing government data, has raised an additional $30 million in a Series C round led by new investor Sapphire Ventures. Earlier investors OpenView Venture Partners, Morganthaler Ventures, and Frazier Technology Ventures also participated. Socrata, founded in 2007, has now raised $55 million. Jai Das, managing … Continue reading “Socrata Opening More Government Data with $30M from Sapphire Ventures, Others”
Prescription Drug Pricing: The Fine Line Between Value and Greed
Value. It’s one of the most frequently used buzzwords on both Wall Street and in healthcare. Virtually every press release from a publicly traded company assures us that its latest acquisition/layoff/tax inversion/sale of assets was designed “to increase shareholder value.” But what exactly is “value” and how is it measured? Here are some definitions from … Continue reading “Prescription Drug Pricing: The Fine Line Between Value and Greed”
AOL Acquires Vidible for Undisclosed Sum
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=b5d16e1f-53c7-4185-8c55-3b9dcf11e057 Date 12/2/2014 Company Name Vidible Mailing Address 13122 NE 20th St. Bellevue, WA 98005 USA Company Description The first video content exchange for syndication that matches content sellers with content buyers in a programatic, streamlined Saas based platform. Vidible delivers the professional quality video content to the right context or audience … Continue reading “AOL Acquires Vidible for Undisclosed Sum”
With Souped-Up Rituxan, Unum Plots First Foray Into T-Cell Therapy
Unum Therapeutics emerged from stealth a few weeks ago with its own twist on the increasingly crowded field of cellular immunotherapy. Today the Cambridge, MA-based company is disclosing more details, not the least of which is that the technology is ready to be tested in patients. Any cell-based immunotherapy effort is bound to attract attention … Continue reading “With Souped-Up Rituxan, Unum Plots First Foray Into T-Cell Therapy”
Socrata Lands $30,000,000 New Funding Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=72467fc9-9bc2-41c2-aa7e-b47b107318bf Date 11/28/2014 Company Name Socrata Mailing Address 83 S. King St. Seattle, WA 98104 USA Company Description Socrata is an online community for producers, publishers, and consumers of data. Through a suite of innovative Web services, Socrata provides the world’s most comprehensive platform for social data discovery. Website http://www.socrata.com Transaction Type … Continue reading “Socrata Lands $30,000,000 New Funding Round”
CommitChange Obtains $200,000 New Funding
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=9cd85679-411a-4de0-b81a-094d91efbf29 Date 11/26/2014 Company Name CommitChange Mailing Address 711 Capitol Way South Olympia, WA 98501 USA Company Description We don’t rope you in. Use any services you want with total freedom. Our goal is to get you 100% of every donation. No extra transaction costs or monthly fees. Website http://www.commitchange.com Transaction Type … Continue reading “CommitChange Obtains $200,000 New Funding”
Startups and 13 States Jumpstart Equity Crowdfunding Without SEC
Ever wanted to own your own little piece of a startup, but found you don’t quite have the money to do it? Well, now you can buy a stake in a local brewery, restaurant, or software company—at least if you live in Wisconsin, Michigan, Washington, Colorado, or other states with new laws that let companies … Continue reading “Startups and 13 States Jumpstart Equity Crowdfunding Without SEC”
Pacific Light Technologies Receives $325,000 New Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=5ee56491-76a0-44a9-bf03-425b22be59be Date 11/25/2014 Company Name Pacific Light Technologies Mailing Address 2828 SW Corbett Portland, OR 97201 USA Company Description Pacific Light Technologies is a materials and integration company dedicated to enabling high-quality, energy-efficient solid-state lighting. Website http://www.pacificlighttech.com Transaction Type Debt Transaction Amount $325,000 Transaction Round Undisclosed Proceeds Purposes Proceeds purposes were not … Continue reading “Pacific Light Technologies Receives $325,000 New Financing”
Minetta Brook Garners $250,000 New Funding
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=470d1203-832b-4ed5-a3f2-c1534dcbe247 Date 11/25/2014 Company Name Minetta Brook Mailing Address 909 Market Street Kirkland, WA 98033 USA Company Description Minetta Brook builds software products & platforms to help users rapidly navigate, consume and put to work large, dynamic bodies of information. Our machine learning & linguistics technology can be applied to various information … Continue reading “Minetta Brook Garners $250,000 New Funding”
Patient Deaths Move Amgen To Pull Drug From Stomach Cancer Trials
[Corrected 11/25/14, 3:00 pm. See below.] Thousand Oaks, CA-based Amgen said Monday it has halted all use of its experimental antibody therapy rilotumumab. [A previous version of this story said rilotumumab was developed at Immunex, which Amgen acquired in 2002. The drug was in fact developed at Amgen’s main campus. We regret the error.] An … Continue reading “Patient Deaths Move Amgen To Pull Drug From Stomach Cancer Trials”
The Risks and Opportunities in a Startup: Age 2-5 Years
In my previous article, I discussed the key risks and opportunities that startups face when they’re just starting out. This time, I’d like to go one step further to the second phase of a startup’s growth: age 2-5 years. This is a critical period. The initial excitement of starting a business is over, and now … Continue reading “The Risks and Opportunities in a Startup: Age 2-5 Years”
MassChallenge Winner From MIT Aims to Kill Cancer With a “Squeeze”
Among the slew of challenges in drug development, there’s this: how can you efficiently get a big molecule, like a protein or nucleic acid, into a cell? That quandary has bedeviled a number of efforts to make and deliver drugs over the years, but it has also provided room for creative thinkers—including one from MIT … Continue reading “MassChallenge Winner From MIT Aims to Kill Cancer With a “Squeeze””
Mirador Financial Obtains $2,000,000 Seed Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=4d12422d-2db2-43f7-b2d6-52d1bd96c512 Date 11/24/2014 Company Name Mirador Financial Mailing Address 319 SW Washington St. Portland, OR 97204 USA Company Description Mirador is a venture-backed startup in the financial technology space. We are working to solve the problem of expanding access to capital for borrowers, particularly small businesses, by enabling lenders to make faster, … Continue reading “Mirador Financial Obtains $2,000,000 Seed Financing Round”
Seattle Roundup: AWS to Clean Cloud, Pitch Winners, Techstars, & More
Amazon isn’t providing a lot of details—surprise, surprise—on its commitment to power its data centers with 100 percent renewable energy. Meanwhile, Northwest startups working on energy storage and water management won the Seattle Angel Conference and the Washington Technology Industry Association’s (WTIA) First Look Forum, respectively. Also, DocuSign named new investors; Placed released the top … Continue reading “Seattle Roundup: AWS to Clean Cloud, Pitch Winners, Techstars, & More”
Aortica Receives $7,000,000 Series A Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=a9226b8a-1b70-4a47-b2cd-0d6913e38ba1 Date 11/21/2014 Company Name Aortica Mailing Address 6200 27th Street SE Mercer Island, WA 98040 USA Company Description Aortica Corporation is designing a patient-specific technology that will allow physicians to more effectively treat the 30-40% of AAA patients who would prefer the benefits of EVAR, but are currently forced to undergo … Continue reading “Aortica Receives $7,000,000 Series A Round”
X2 Biosystems Secures $1,710,000 New Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=7f7bbb9a-3e03-45ea-aaa6-8b8b94998697 Date 11/21/2014 Company Name X2 Biosystems Mailing Address 1927 Post Alley Seattle, WA 98101 USA Company Description The X2 system notifies athletic trainers, coaches, and team physicians in real time about impacts to players heads, and provides a suite of tools supporting athlete assessment in bench vs. play decisions, recovery and … Continue reading “X2 Biosystems Secures $1,710,000 New Round”
West Coast Biotech Roundup: Gilead, Juno, Hutch, Fibrogen & More
Snow? What snow? The only thing piling up at astonishing rates on the West Coast this week is biotech news. Up in Seattle, the Fred Hutchinson Cancer Research Center has unveiled its new president, and its neighbor Juno Therapeutics filed to go public—two events not entirely unrelated, as we note here. Down the coast, Gilead … Continue reading “West Coast Biotech Roundup: Gilead, Juno, Hutch, Fibrogen & More”
Seattle’s Fred Hutch Taps a Harvard, Merck Vet As New President
The Fred Hutchinson Cancer Research Center in Seattle has unveiled D. Gary Gilliland as its new president and director. He steps to the helm with a strong tailwind, as the center’s research is part of a new field that has shown early promise eradicating leukemia from some of the sickest patients in the country. Gilliland … Continue reading “Seattle’s Fred Hutch Taps a Harvard, Merck Vet As New President”
With Atlas Cash and Berkeley Tools, Intellia Joins the CRISPR Fray
Add another entrant to the race toward what might be called Gene Therapy 2.0. Atlas Venture and the research arm of the drug giant Novartis (NYSE: [[ticker:NVS]]) have put $15 million into the Series A round for Intellia Therapeutics, which is emerging today from stealth after two years of incubation. The Cambridge, MA, startup will … Continue reading “With Atlas Cash and Berkeley Tools, Intellia Joins the CRISPR Fray”
Breaking Bottlenecks, Opening the Floodgates to Genomic Data
There is a major transformational step underway for managing the growing amount of human genomic data. To date, the focus has been on amassing databanks of genomes and then developing new tools to analyze this information. In essence, the emphasis has been on breaking bottlenecks for analyzing the data. Now, there is an opportunity to … Continue reading “Breaking Bottlenecks, Opening the Floodgates to Genomic Data”
New Research Could (Finally) Remove RNAi’s Commercial Limitations
[Corrected 11/17/14, 12:30pm. See below.] If nothing else, the acronym RNAi, which stands for ribonucleic acid interference, should be familiar to biotech observers as something that won two researchers the Nobel Prize in 2006, and that a few companies have tried to turn into drugs. Alnylam Pharmaceuticals (NASDAQ: [[ticker:ALNY]]) is the most well-known. But in … Continue reading “New Research Could (Finally) Remove RNAi’s Commercial Limitations”
Juno, Less Than a Year Old, Lines up IPO to Fund Cancer Work
Few biotech startups have burst onto the scene like Juno Therapeutics. The Seattle company secured $310 million in private financing in less than a year, budding out of cancer immunotherapy work at three of the nation’s premier cancer centers in New York and Seattle. With that type of momentum, it was only a matter of … Continue reading “Juno, Less Than a Year Old, Lines up IPO to Fund Cancer Work”
Leading Seattle Entrepreneurs to Share Stories at Xconomy Xchange Tuesday
How did Jane Park go from high-touch nail salons to an omni-channel social commerce brand? How did the local community convince Carlos Guestrin, a leader in machine learning, to move to Seattle where he’s built a company at the forefront of data intelligence? What are the valuable secrets—about business operations and security—hidden in the wire … Continue reading “Leading Seattle Entrepreneurs to Share Stories at Xconomy Xchange Tuesday”
Innovation Hub: The Next Wave of Sports Analytics
We hear a lot about how giants in tech and e-commerce are using big data to improve business. But what about the role of data in a very different industry, one rooted as much in numbers as in superstition and luck? We’re talking about the world of sport. Ever since the bestselling book and movie … Continue reading “Innovation Hub: The Next Wave of Sports Analytics”
Rival IQ Garners $1,000,000 New Funding Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=9d03bed4-8ccb-4985-bcda-0d1f9d251633 Date 11/14/2014 Company Name Rival IQ Mailing Address 911 Western Ave. Seattle, WA 98104 USA Company Description Be it for your board, boss, or client, everyone reports to someone. Instantly transform insights charts and tables from Rival IQ into PowerPoint slides, and get the data you need to show off your … Continue reading “Rival IQ Garners $1,000,000 New Funding Round”
Indice Semiconductor Garners $6,000,000 New Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=c035702c-0b1c-42a8-86e3-8bbfa517f0b7 Date 11/14/2014 Company Name Indice Semiconductor Mailing Address 18840 SW Boones Ferry Road Tualatin, OR 97062 USA Company Description Indice is a fabless semiconductor company with experience in not only researching, designing and developing technology, but also bringing it to market, with proven commercialized reference design implemented by manufacturers globally. Website … Continue reading “Indice Semiconductor Garners $6,000,000 New Financing Round”
Dissecting the “Dataware” Technology Stack with Madrona’s Matt McIlwain
Big data is a catchphrase that’s getting stale and almost too broad to be meaningful. But behind the buzzword are some very real technology trends—and they paint a good picture for Seattle. Matt McIlwain, managing director at Madrona Venture Group, the region’s foremost investor in information technology companies, gave me a quick tour through the … Continue reading “Dissecting the “Dataware” Technology Stack with Madrona’s Matt McIlwain”
West Coast Biotech Roundup: Intarcia, Dendreon, Amgen, Doudna & More
[Corrected 11/13/14, 5:40 pm. See below.] West Coast spotlights this week are on new ways to fight disease. Some are close to getting to market: Amgen announced late-stage development and regulatory news about two drug programs that aim to treat psoriasis and heart disease through novel biomolecular mechanisms. Some are a bit farther away: Bicoastal … Continue reading “West Coast Biotech Roundup: Intarcia, Dendreon, Amgen, Doudna & More”
Who Needs a Mega-Hit? 12-Year-Old Big Fish Games Sold for $885M
The video game business is notoriously boom-or-bust. Develop a hit franchise, and you can make a ton of money—but the novelty eventually wears off for players, and the clock is always ticking for your next hit. Seattle-based Big Fish Games has never really found that headline-grabbing mega-hit game, despite being in business for about 12 years. That means it … Continue reading “Who Needs a Mega-Hit? 12-Year-Old Big Fish Games Sold for $885M”
Ballmer Pumps Life into Boston Tech Ecosystem with Harvard Grant
Former Microsoft CEO Steve Ballmer, only months after becoming an NBA owner, is further flexing his philanthropic muscles. On Thursday, he said he will bankroll a 50 percent increase in computer science faculty at Harvard University. Ballmer, who graduated from Harvard in 1977, is announcing the initiative today at Harvard’s Innovation Lab (iLab), a three-year … Continue reading “Ballmer Pumps Life into Boston Tech Ecosystem with Harvard Grant”
Entomo Secures $2,000,000 New Funding
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=c158d30d-fec1-4ccb-9982-0d0f9eb983d7 Date 11/13/2014 Company Name Entomo Mailing Address 3633 136th Place SE Bellevue, WA 98006 USA Company Description Entomo’s solutions target the specialized needs of Sales Operations, Finance, Audit/Compliance and the Channel Marketing departments in companies that sell products or collect royalties through networks of Channel Partners (Distributors, Resellers, OEMs, VARs, Retailers). … Continue reading “Entomo Secures $2,000,000 New Funding”
know’N’act Lands $500,000 New Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=7db81658-2932-41b5-a3a7-7f14d2b8fc6d Date 11/13/2014 Company Name know’N’act Mailing Address 14711 NE 29th Place Bellevue, WA 98007 USA Company Description know’N’act comes from the creative minds of a group of people with a passion for customer service. We’re innovative, curious, and rather underwhelmed with the current market of tools that provide real-time customer feedback … Continue reading “know’N’act Lands $500,000 New Round”
Jane Says: Julep CEO on Leadership, Growing Pains, Community, Family
Jane Park, co-founder and CEO of Seattle beauty brand Julep, is trying to build “the most transparent and collaborative company” in any category, not just in the massive beauty products industry where Julep is differentiating itself by forming deep relationships with customers online and in person. Park, who leads 240 employees and has raised $56 … Continue reading “Jane Says: Julep CEO on Leadership, Growing Pains, Community, Family”
Next-Gen Network Monitoring: The Missing Piece of the Security Puzzle
If 2014 has taught us anything, it’s that IT security is falling behind the threats against which it is supposed to protect, and the gap is widening quickly. From data breaches at major retailers to serious zero-day vulnerabilities such as Heartbleed and Shellshock, the events of the last 12 months have caused everyone with an … Continue reading “Next-Gen Network Monitoring: The Missing Piece of the Security Puzzle”
With Wires and Electrodes, Tara Bio Builds a Heart on a Chip
It’s been pretty clear for some time that there’s a big need to improve the efficiency of drug R&D. By industry’s count, drugs cost over $1 billion to develop, and most of them fail. A big reason why is the preclinical studies in petri dishes and animals don’t accurately predict how a drug will behave … Continue reading “With Wires and Electrodes, Tara Bio Builds a Heart on a Chip”
Lowering the Cost of Failure in Biopharmaceuticals
In any business, projects fail, but in biopharmaceuticals, the consequences of failure are especially damaging. Projects in the industry tend to be long and expensive—from clinical trials to regulatory approvals to commercial application. At any point in the process, obstacles can derail a project. Failure is most certainly an option, and for companies with many … Continue reading “Lowering the Cost of Failure in Biopharmaceuticals”