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uBiome is jumping into therapeutics with a healthy $83 million in Series C financing

23andMe, IBM and now uBiome is the next tech company to jump into the lucrative multi-billion dollar drug discovery market. The company started out with a consumer gut health test to check whether your intestines carry the right kind of bacteria for healthy digestion but has since expanded to include over 250,000 samples for everything from the microbes on your skin to vaginal health — the largest data set in the world for these types of samples, according to the company. Founder Jessica Richman now says there’s a wider opportunity to use this data to create value in therapeutics. To support its new drug discovery efforts, the San Francisco-based startup will be moving its therapeutics unit into new Cambridge, Massachusetts headquarters and appointing former Novartis CEO Joseph Jimenez to the board of directors as well. The company has a healthy pile of cash to help build out that new HQ, too, with a fresh $83 million Series C, lead by OS Fund and in participation with 8VC, Y Combinator, Dentsu Ventures and others. The drug discovery market is slated to be worth nearly $86 billion by 2022, according to BCC Research numbers. New technologies — those that solve logistics issues and shorten the time between research and getting a drug to market in particular — are driving the growth and that’s where uBiome thinks it can get into the game. “This financing allows us to expand our product portfolio, increase our focus on patent assets and further raise our clinical profile, especially as we begin to focus on commercialization of drug discovery and development of our patent assets,” Richman said. Though its unclear at this time which drug maker the company might partner up with, Richman did say there would be plenty to announce later on that front. So far, the company has published over 30 peer-reviewed papers on microbiome research, has entered into research partnerships with the likes of the Center for Disease Control (CDC) and leading research institutions such as Harvard, MIT and Stanford and has previously raised $22 million in funding. The additional VC cash puts the…

uBeam wireless power’s CEO Meredith Perry steps aside amidst B2B pivot

After repeatedly missing self-imposed deadlines for progress on its wireless charging-at-a-distance phone case, uBeam’s CEO Meredith Perry has decided to shift out of the CEO position and into a board member and senior advisor role. She’d founded the company in 2011 from her dorm room and brought in over $40 million in funding by selling a wide range of elite investors on her vision for a cordless future, including Andreessen Horowitz, Founders Fund, CrunchFund (disclosure: started by TechCrunch’s founder), Marissa Mayer and Mark Cuban. Now rather than trying to build its own consumer products like wireless power transmitters and receivers that could charge your phone from across the room using ultrasound frequencies, uBeam is pivoting to licensing its technology for use in other companies’ products. “Meredith made the decision to step down as CEO. She wanted the company to hire a CEO who had experience in overseeing the rollout of a b2b electronics product,” tweeted one of the startup’s lead investors, Mark Suster of Upfront Capital. Axios’ Dan Primack reported the news earlier today. TechCrunch spoke to Perry but she declined to comment on the record. For the interim, uBeam’s head of HR and finance Jacqueline McCauley, who joined in 2016, will lead the company. In a blog post today, she announced that “Meredith felt it was time to bring on a seasoned executive in the electronics field to lead the company through its commercialization phase. The company has begun a search for this new CEO.” uBeam had wowed investors and AllThingsD conference attendees in 2011 with a demo showing it could deliver at least some power over a distance of a few feet. A source at one point said uBeam was holding talks with top retail and dining chains, and insinuated one of the world’s top phone makers might build on its technology. But the startup made big promises about public demonstrations and the efficiency of its technology it couldn’t keep. In 2015 Perry had told TechCrunch real-life public demos would be ready the next year, which came and went. In 2016, things started to fall apart. The startup’s former…

How Silicon Valley should celebrate Labor Day

Ask any 25-year old engineer what Labor Day means to him or her, and you might get an answer like: it’s the surprise three-day weekend after a summer of vacationing. Or it’s the day everyone barbecues at Dolores Park. Or it’s the annual Tahoe trip where everyone gets to relive college. Or simply, it’s the day we get off because we all work so hard. And while founders and employees in startup land certainly work hard, wearing their 80-hour workweeks as a badge of honor, closing deals on conference calls in an air-conditioned WeWork is a far cry from the backbreaking working conditions of the 1880s, the era when Labor Day was born. For everyone here in Silicon Valley, we should not be celebrating this holiday triumphantly over beers and hot dogs, complacent in the belief that our gravest labor issues are behind us, but instead use this holiday as a moment to reflect on how much further we have to go in making our workplaces and companies more equitable, diverse, inclusive and ethically responsible. Bloody Beginnings On September 5th, 1882, 10,000 workers gathered at a “monster labor festival” to protest the 12-hours per day, seven days a week harsh working conditions they faced in order to cobble together a survivable wage. Even children as “young as 5 or 6 toiled in mills, factories and mines across the country.” This all erupted in a climax in 1894 when the American Railway Union went on a nationwide strike, crippling the nation’s transportation infrastructure, which included trains that delivered postal mail. President Grover Cleveland declared this a federal crime and sent in federal troops to break up the strike, which resulted in one of the bloodiest encounters in labor history, leaving 30 dead and countless injured. Labor Day was declared a national holiday a few month later in an effort to mend wounds and make peace with a reeling and restless workforce (it also conveniently coincided with President Cleveland’s reelection bid). The Battle is Not Yet Won Today in Silicon Valley, this battle for fair working conditions and a living wage seems…

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