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STRUCTURES INNOVATION EXEC PROFILE
EMPTY COUNTING GAME

OFFICES HEADS ON
S.F.’s available sublease Tech founder uses family Zynga’s Frank Gibeau
space hits 3.6 million sq. leave to track industry’s plays to win in game
ALL
ft. amid pandemic. layoffs. maker’s turnaround.
PAGE 6 PAGE 12 PAGE 50
BAY AREA BIOTECH

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TOP BIOPHARMAS, BIOTECHS, AIRLINES PAGES 36-45
SAN FRANCISCO BREAKING NEWS ONLINE

BUSINESS TIMES
May 22, 2020
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contact Managing
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contact Michael
The new Fortune 500 is out, and the San Francisco-San Jose region landed 38 companies on the list
Fernald at (415) 288-
es
4942 or mfernald@
—the same as last year, as Core-Mark Holding moved to Texas and Uber debuted on the list thanks
bizjournals.com. to its IPO. Here are the top 15 metro areas for total revenue. If San Francisco and San Jose were
sJ
combined, revenue from Bay Area companies on the list would total $1.37 trillion.
ou
$1.8T
CORRECTIONS
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The Real Estate Deals of the Year

als
San Francisco Business

section in the May 15th issue $996B
Times is a publication of:
American City contained the following errors:
Business Journals, • Cushman & Wakefield was seller’s
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120 W. Morehead St., broker for VF Outdoor HQ / Abbott $842B

Charlotte, N.C. 28202 $810B
Whitney Shaw, CEO Laboratories Sale.
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Ray Shaw, Chairman • Architect Mark Hornberger was

(1989-2009) incorrectly identified. $669B
for
$575B $562B $561B

$494B
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$489B
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send address changes to: and designer Ian Lawson came came in $100M under budget. McKesson. And Core-Mark.
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MAY 22, 2020 3
BAY AREA BRIEF
FACE TIME been working in architecture since

GOVERNMENT 1982, you see a great arc of trans-
formation in the definition of what it
Meet the
means to be an architect. We have
made a wonderful transition from the
artist/ego/genius model to a collab-
orative practice, which I think is the
only way to do modern architecture. I
think we have pushed our firm and the
task force
field toward practice that is achieved
together and very much engaged in
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the larger culture.

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How has Covid affected your

business? Because we work in the
that could
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"essential service" of affordable hous-

DAVID BAKER ARCHITECTS ing, we have been very busy and very
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productive, although no doubt we

DAVID BAKER ARCHITECTS, established in 1982 in the Bay will eventually feel the effects. We are
©
Area, got some good news amid the Covid-19 pandemic: all getting a primer in the team office
It won the 2020 AIA California Firm Award from the state's of the future. Fortunately, DBA had
reopen S.F.
20
chapter of the American Institute of Architects. It’s the first put a lot of remote and collaborative
time since 2012 it went to a San Francisco firm. practices in place before the pandem-
20
The award recognizes the firm's work over the last ic, so we were able to communicate
decade. The firm, which has 42 employees across offices and design remotely fairly efficiently
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in San Francisco, Oakland and Alabama, specializes in right away, and we have made those
affordable and sustainable housing. We caught up with features even more robust.
Founding Principal David Baker. I think the transition back to the
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"traditional office" will be more im-

ica
NOTABLE MEMBERS What does this award mean to you? It is a fantastic honor pactful for us. We will likely innovate
The 123 members are RR Aaron Peskin and Rafael Mandel- to be singled out among the incredible firms throughout on that front in response to what our
staff wants and needs, and also main-
the state of California for the 2020 Firm Award. It is great
n
man, Board of Supervisors represen-

meeting together and tatives for Districts 3 and 8, respec- to see our team's patience of doing our service to society tain the opportunity to work at home,
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tively for so many years be recognized this way. remotely, or in whatever configuration
in small groups is most conducive to individual or the
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RR Dr. Grant Colfax, director of the How would you describe your firm’s legacy? When you've team's process.
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city department of public health

BY ALEX BARREIRA
RR Kevin Carroll, CEO of the Hotel
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[email protected] Council of San Francisco

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More than 100 members of a new RR Joe D’Alessandro, CEO of SF Travel

San Francisco task force have been
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RR Rick Welts, president and CEO of

quietly meeting together and in the Warriors
We’re at your Service
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smaller groups over the last month

RR Mike Grisso, senior vice president
to craft policies that will guide at Kilroy Realty
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city businesses as they reopen and

RR Rebecca Prozan, director of gov-
als
recover following the Covid-19

pandemic. ernment affairs at Google
Authorized by Mayor London RR Jennifer Bielstein, director of the
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Breed and Board of Supervisors American Conservatory Theater Our products are great, but our bankers really make the difference.
President Norman Yee, the full Our solution-driven team of experienced and dedicated bankers
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RR Lynn Mahoney, president of San

group met for the first time on April Francisco State University offer premier, high touch service that is unparalleled by any other
for
24 and has had one full-roster meet- community bank in our area. Get to know us! You’ll be happy you did!
ing since then.
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The task force, whose 123 mem- The task force’s staff lead, Melissa Our Services Include
bers are mostly business lead- Whitehouse, who works in the city
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ers and city officials, will gather administrator’s office, said the body • Asset Based Lending
monthly through October to build will be publicly sharing near-term • Commercial Real Estate
• Construction Lending
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a report on policy recommenda- recommendations on reopening

tions for the city’s public health policy “as soon as they are ready.” • Equipment Financing
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department, which is the ultimate At its latest meeting May 14, chairs • Factoring
decision-maker on business oper- presented the results of a survey of • Lines of Credit
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ating conditions during the pan- businesses. • Full Range of Treasury Services
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demic. These recommendations are “A few themes emerge,” said Car- • Merchant Services
intended to lay the groundwork for men Chu, the city’s assessor-re- • Online Banking with Bill Pay
how the city will rebuild its econ- corder and one of the task force’s • Mobile Banking
omy and support small businesses four co-chairs. “We heard clearly • Remote & Mobile Deposit
and vulnerable industries. the need to focus on safe reopening, • SBA Financing
But that timeline isn’t stopping the challenges around uncertainty
• Term Loans
the task force from having an influ- and the associated need to ensure
ence on city policy before then. clear communication and planning HeritageBankofCommerce.bank
Members are meeting in smaller and the desire to invest in building a Visit our website for a complete list of locations.
breakout groups of around 10, often San Francisco that emerges stronger
with one of the task force’s four and more equitable than before for
co-chairs in attendance, on a more the long-term.”
frequent basis to exchange expe- The other co-chairs are José Cis-
riences and give feedback on oth- neros, the city treasurer, Rudy Gon- Equal Housing Lender • NMLS #486849 • Member FDIC
er members’ ideas. Members sug- zalez, executive director of the San
gested that some of the task force’s Francisco Labor Council, and Rod-
most important work as a whole ney Fong, president and CEO of the
will happen here. chamber of commerce.
BAY AREA BRIEF
LIFE AFTER COVID
Air travel’s new normal

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In other words, travelers return- “Beer and es already underway: RR Meal service for customers in
United teams up with ing to airports in the months ahead RR Boarding fewer passengers at domestic first class consists of the
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might fondly recall fondly the gold- wine is a time to allow for more distance bistro snack boxes that used to be
Clorox, Cleveland Clinic
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en age of air travel, last experienced offered in and minimize crowding at the available for purchase in economy.
to win back wary flyers at the start of 2020. Gone are the gate and jet bridge. Customers will United is also limiting advance
premium
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days of enjoying a cocktail or cup of self-scan their boarding passes at seat selections so customers won’t
coffee served on board, at least for cabins. gate readers. be able to choose seats next to each
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BY MARK CALVEY the “foreseeable future” on Unit- RR Individually wrapped hand san- other, and allowing customers to
Otherwise
20
[email protected] ed. In fact, alcohol in all forms has itizer wipes will be offered to trav- take alternative flights when the
been removed from non-premium all alcohol elers as they board the plane. carrier expects a flight to operate
20
United Airlines has partnered with cabins. RR In economy class, passengers at more than 70% capacity.
Clorox and the Cleveland Clinic United plans to use Clorox elec- has been will get “all in one” snack bags Those using United Clubs will
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on new cleaning and operational trostatic sprayers, disinfectant and removed. featuring a wrapped hand sani- find that visiting the buffet service
changes intended to reassure trav- wipes at its hub airports, starting tizer, an 8.5-ounce bottle of wa- and sitting at the bar for cocktails
We’re not
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elers about their safety at the air- with Chicago and Denver, followed ter, a stroopwafel and a package are now memories of a time before
serving
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port and on its airplanes. later by hubs in San Francisco and of pretzels. The snack bags replace Covid-19. The airline has removed
The airline’s cleaning program, elsewhere. The carrier worked with economy’s beverage and compli- seating at the bar to promote social
coffee,
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called United CleanPlus, will the Cleveland Clinic on developing mentary snack service on flights distancing. And United Clubs will
either.”
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include new disinfecting, safety United CleanPlus and will contin- scheduled for 2 hours and 20 min- feature pre-packaged food and
and social-distancing protocols, ue to rely on the clinic’s medical utes or more. beverages, only available at the bar
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featuring touchless kiosks, sneeze experts for advice on new technol- ANNABELLE RR All drinks and food are area.
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guards, mandatory face coverings ogies, training and quality assur- COTTEE, pre-packaged. Alaska Airlines, meanwhile, has
United
for employees and travelers and ance programming. RR No cocktails on flights. Beer and closed its nearly brand-new lounge
spokesperson
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offering customers alternatives In unveiling United CleanPlus, wine available only in premium at SFO, and every other one around
when flights are close to full. the carrier also shared other chang- cabins. the country except in Seattle.
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MONEY CHASE THE POWER OF THREE: EVENT

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CENTER OFFICE PARTNERS LLC

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Alexandria Real Estate Equities
Big score for Uber, Owns:

10%
Other
involvement:
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Alexandria has
Warriors, developer
Contribution: been the premier
ot
$31M developer of
Mission Bay
for
on Mission Bay offices

Payout: for nearly 20
Unstated, years, building a
but based on portfolio of well
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ownership over 1 million

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percentage it square feet,

would be $20 spread over
pair of subsidiaries, refinanced a million several projects.
Refinanced office loan
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secured construction loan with an

outstanding balance of $313.2 mil- Uber Technologies
unlocks millions for
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lion as of March 31. The new loan, Owns: Other

three-way partnership with a 4.5% interest rate, allowed the 45% involvement:
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Uber has rented

partners to pay off the construction
Contribution: the entirety of
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financing, cover a required opera- $136M both buildings,

BY RON LEUTY tion reserve and related financing 585,000 square
[email protected] costs — and distribute millions of Payout: feet at $84 per
dollars back to the Warriors, Uber $91M square foot for
20 years, totaling
In the weeks before Covid-19 shut- and Alexandria.
more than $1
tered Chase Center, the Golden State Only the office buildings — not billion.
Warriors and partners Uber Tech- Chase Center, which the Warriors TODD JOHNSON | SAN FRANCISCO BUSINESS TIMES
nologies Inc. and Alexandria Real privately financed and opened in Golden State Warriors
Estate Equities Inc. refinanced a September — were involved in the Chase Center a real estate developer, particular- Owns: Other
construction loan for two office partnership’s refinancing. with one of ly in the Mission Bay neighborhood 45% involvement:
The Warriors
buildings alongside the new arena Each of the partners brings the office where it has constructed several Contribution: retain separate,
in a deal that allowed them each to something to the joint venture. In buildings, at biotech lab-and-office buildings. Land purchased private
receive millions of dollars. addition to its long-term lease, Uber left, that Uber In its filing, Uber said the oth- for $150M ownership of
Details are slim, but this much brought its initial capital. The War- will eventually er partners in the joint venture Chase Center
is known about the deal from Uber riors owned the land, purchased occupy. received payouts based on their Payout: arena.
Unknown, based
and Alexandria’s SEC filings. Event from Salesforce.com Inc. in Octo- ownership percentage.That would on ownership
Center Office Partners LLC, which ber 2015 for $150 million. Alexan- suggest they shared a payday of percentage
owns the two buildings through a dria brought years of experience as $200 million. would be $91M.
MAY 22, 2020 5
WORKING IN THE AGE OF CORONAVIRUS

Part of an ongoing series Washington Business Journal
[email protected] | @WBJBookofLists
TRAFFIC’S JAM
It’s probably been months since you last
took a trip. Of any kind. Chances are, you’re
not going anywhere anytime soon. The
long-running stay-at-home orders have
TRAVEL INFRASTRUCTURE TO LIKELY SEE LONG-LASTING EFFECTS cost the travel sector dearly, from public
transit to road trips to air travel. Journey
Co
BY CAROLYN M. PROCTOR through this page to see the heavy toll.

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GROUNDED
©
Airline travel plummeted in March by more than 90% and may take months to recover. The Transportation Security Administration’s U.S. checkpoint passenger count
shows a cliff dive from the usual 2 million-plus daily travelers to 200,000 as of press time — terrifying news for the approximately 65.5 million people whose jobs
20
depend on aviation, per the International Air Travel Association. The ATA estimates 25 million jobs are at risk, including 2 million in the U.S., due to the pandemic, and
Cowen analysts believe 95,000 to 105,000 of those will be direct airline employees. As scores of planes worldwide are grounded, IBISWorld market research shows the airline industry is
20
now losing about $1.6 billion every day, though U.S. airlines did receive $25 billion in payroll aid with the federal CARES Act.
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TSA CHECKPOINT TRAVEL NUMBERS 2020 total traveler throughput 2019 total traveler throughput (same weekday)
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MARCH 1-31 APRIL 1-30 MAY 1-10

2.75M
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2.50
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2.25
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2.00
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March 15: CDC advises

1.75
no gatherings of 50 or May 10: Cases
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1.50 more people top 3.9 million

Travelers: 1,519,192 worldwide
sin
1.25
Travelers: 200,815
1.00 March 11: WHO declares March 26: U.S.
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Covid-19 a pandemic April 2: Covid-19 April 30: Airlines

leads the world in
0.75 cases exceed announce face-
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Travelers: 1,702,686 confirmed cases

1 million worldwide mask requirements
0.50 Travelers: 203,858
Travelers: 124,021 Travelers: 154,695
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0.25
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0
SOURCES: Transportation Security Administration; Centers for Disease Control and Prevention
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STALLED DERAILED
ot
The roads are lonelier than usual. In some ways, that’s good, leading to less air Public transportation may have been deemed an essential service and received $25
pollution. But it’s not great news for state and municipal budgets that rely on gas billion in federal funding, but it’s been victim to big cutbacks, especially in ridership,
for
taxes and tolls — and now have less money to spend on infrastructure. States like leaving many systems grossly underfunded. In a recent report on telework, research
Nevada, with no sales or income taxes, are hurting more than others. Remember nonprofit The Conference Board said metro areas where public transit is most
Infrastructure Week? That was meant to address the huge backlog of repairs used — i.e. its own New York home market — will have the hardest time returning to
co
needed for roads, bridges, dams and other infrastructure. The American Society of normal commuting patterns before a vaccine is available (see which markets below).
Civil Engineers estimated last year that those repairs will cost $4.5 trillion by 2025, Conference Board Vice President Gad Levanon said employers may have a hard time
mm
though an infrastructure stimulus bill remains a hot-button political issue. D.C.- asking workers to leave the house, where they can work, to risk exposure until then.
based consulting firm CG/LA Infrastructure identified hundreds of projects that
would put more than 1 million people to work around the country, filling 640,183 PERCENTAGE OF WORKERS COMMUTING IN 2018, Top 10 metros
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jobs on transportation-specific projects. Subway or elevated rail Other public transportation

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TOO MANY ROADBLOCKS 0% 5 10 15 20

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The construction and infrastructure industry is feeling pessimistic about a post- New York
se
Covid world, per a CG/LA Infrastructure survey of 13,000 global respondents in

late March. Here are some findings from before and after the pandemic.
San Francisco
Expect a significant rise in Believe they’d see any increase in Washington

infrastructure work: investment:
Before pandemic 34% Before pandemic 71% Boston
After 5 After 27
Chicago
Bridgeport-Stamford-
Norwalk, CT
Top obstacles in infrastructure Top areas needing the most
investment in 2020: investment in 2020**: Seattle
Politics 62% Clean water 64% Philadelphia

Lack of appreciation
28 Transit 52 Baltimore
for importance
Other 10 Portland-Vancouver-
Highways 51
Hillsboro, OR-WA
SOURCE: CG/LA Infrastructure survey **NOTE: Could vote for more than one SOURCE: The Conference Board
STRUCTURES
[email protected] I
415-288-4960
LAURA WAXMANN covers real estate, construction and architecture @Waxmannbiz
REDEVELOPMENT OFFICE MARKET
S.F. SUBLEASE
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SPACE SPIKES
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20
DBOX INC.
Amid pandemic, tenants 5%
20
The redevelopment of Treasure Island will ultimately result in 5%

8,000 new homes and a community of 18,000 people. shed space at level not
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seen in two decades 8%
AFFORDABLE HOUSING TO A SPACE RACE IN REVERSE

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San Francisco has 3.6 million

START ON TREASURE ISLAND
ica
After seeing the benefits of allowing square feet of office avail-

his employees to work from home, able. Here’s the main indus-
n
Starcity CEO Jon Dishotsky is think- tries it’s coming from

Construction is expected to projects on the island. Mercy’s
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ing about putting half the co-living TECHNOLOGY

start in August on the first of project is expected to break
two affordable housing projects ground in 2021. developer’s 10,000-square-foot San FINANCIAL/INSUR/REAL ESTATE
ty
Francisco office in Jackson Square PROFESSIONAL SERVICES

planned under Phase I of the Overall, Treasure Island’s re- 57% 25%
LEGAL
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massive redevelopment of Trea- development will include 8,000 up for sublease. UNKNOWN
sure Island. new homes and 140,000 square “It’s something we were already
Financing for the Maceo feet of retail and commercial
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contemplating, but (the pandemic)

May apartments — named after space. In total, 2,000 of the
the former director of housing island’s planned new units will fast-forwarded those plans,” said
es
for veterans support nonprofit be affordable. Dishotsky, adding it’s already shed
Swords to Plowshares — closed Treasure Island’s transfor- its Los Angeles office.
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on April 28, marking a “huge mation is being spearheaded As companies like Starcity grap-
milestone” for the island, by Treasure Island Community
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ple with how many employees will SOURCE: CBRE Tech Insights Center
Treasure Island Development Development — comprised of
Authority Director Bob Beck said key developers Lennar, Stock- return to offices when they reopen,
rn
at a hearing May 13. Construc- bridge and Wilson Meany — and San Francisco’s sublease inventory “Whatever space that’s available. This ratio is a
tion of the building, which will also includes schools, hotels,
als
has reached its highest level since potential trigger for rental decreas-
provide housing to 105 home- entertainment venues and 300 the dot-com era. It is expected to rates and es and other concessions.
less veterans, is expected to be acres of open space and parks
climb even further as more compa- terms “In a typical market situation,
-N
complete in 2022. The first phase of con-

TIDA’s board of directors has struction also includes a ferry nies look to offload space. where there is a reasonably good
also authorized the execution terminal, where limited service CBRE — which tracks the city’s are being balance of supply and demand, the
ot
of a $20 million state grant that is expected to begin in 2021. sublease market on a weekly basis offered for number is more in the 15 to 20%
will help to finance 135 units Once completed, Trea-
for
— says there is currently 3.6 million range for sublease space,” he said.
for low-income families to be sure Island’s new community
square feet of sublease space avail- sublease In the current situation, he said,
developed by Mercy Housing is expected to house 18,000
space has
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as the second 100% affordable people — a significant increase able, representing 4.4% of the city’s “whatever rates and terms are
housing development, as well as from the 1,800 households that total building inventory. being offered for sublease space
a much
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help fund transportation-related currently populate the island. That number is up by nearly half has a much more direct impact to
a million square feet since San Fran- more compete with space being offered
er
ciscans were ordered to shelter in directly by landlords.”

place March 16, according to Col-
direct Concessions most often involve a
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in Yasukochi, executive director of impact rent-free period or additional mon-

PEOPLE ON THE MOVE CBRE’s Tech Insights Center. It is ey the tenant can use to improve the
(on) space
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the largest amount of sublease space space. While some sporadic conces-
MICHAEL MARKS
being
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available since the dot-com crash, sions, including slight rent decreas-
Position: when 5.5 million available square es, are already being made, asking
Stepping down as CEO feet was recorded.
offered rents have yet to drop across the
of Katerra Inc. Substantial job cuts could also be directly by board.
a future driving force of additional However, some decline in ask-
Marks, who cofounded the
sublease space hitting the market,
landlords.” ing rents for both sublease and
prefab construction company in
2015, will hand off CEO duties said Yasukochi. direct spaces — for which the aver-
COLIN
to Chief Operating Officer “Some companies have cut back YASUKOCHI, age was $88 per square foot for Class
Paal Kibsgaard July 1. Before on their number of employees so CBRE Tech A rent pre-pandemic — is expected
Katerra, Kibsgaard was CEO of they don’t need all the space they Insights Center as additional space hits the market
Schlumberger Limited, a multi-
billion dollar international oilfield
planned for,” he said. “Some had if demand remains stagnant. .
services company. TODD JOHNSON | SFBT probably planned for substantial In the “last significant nation-
“We brought Paal into Katerra growth which is unlikely to mate- wide downturn” during the Great
with the intention of someday time to put Paal’s experience to rialize now.” Recession, Class A asking rents in
appointing him CEO,” Marks work as CEO.” The city’s available sublease San Francisco dropped by 8.5%
said. “Operational excellence will Marks said he is leaving to
be instrumental to our long-term focus full time on his Menlo space represents 40% of its total between 2008 and 2009, while con-
success as we come out of the Park-based venture-capital firm, available office space, with the cessions grew by 37.8%, reported
Covid crisis, and now is the right WRVI Capital. remaining 60% comprising direct real estate firm Savills.
MAY 22, 2020 7
TECH
[email protected] I
415-288-4945
DAWN KAWAMOTO covers technology, venture capital and the gig economy @dawnkawamoto
LAYOFFS, FUNDING WATCH

BY THE NUMBERS
3,000
BIG ROUND YIELDS
Co
Jobs cuts made by Uber

on May 18 as Covid-19
py
continues to ravage its core
BIG HIRING SPREE

ride-hailing business. The
rig
cuts are on top of 3,700

layoffs the San Francisco
ht
company announced earlier

in May. In total, the 6,700
©
positions represent 25% of

the 26,900 employees Uber
20
had at the end of Decem- ABOUT THE

ber. The company is also Cyber insurance startup COMPANY
20
closing its Pier 70 location

Sells insurance
in San Francisco and 44 nears unicorn status policies to cover
other offices around the
Am
with Series C losses from cyber

globe. The Pier 70 location
breaches
houses about 500 employ-
er
ees, including the compa-

Founded:
ny’s Advanced Technology
ica
Coalition, a San Francisco cyber March 2017

Unit. Some of those will be
relocated to Uber’s future insurance startup, landed a $90
CEO:
n
Mission Bay campus. million Series C funding round and

Joshua Motta
Ci
expects to double its workforce

144 within the next 12 months. Headquarters:
ty
The company currently employs San Francisco

Bu
Jobs cuts by Cruise, repre- 106 people, including 41 in the Bay

senting 8% of its workforce Area. Since March, it has hired 21 Employees:
of 1,800. The autonomous 106
sin
vehicle company majority

people and plans to hire another 80
owned by General Motors by the end of the year. ABOUT THE
es
said the cuts were not relat- The startup, which sells cyber FUNDING
ed to Covid-19. The affected insurance and offers free cyber- ROUND
sJ
employees will receive security software and monitor- Series C:

financial support from the $90M
ou
San Francisco company and

ing data, is recruiting engineers, TODD JOHNSON | SFBT
health care benefits that will cybersecurity specialists, sales and Coalition CEO Joshua Motta said May is on track to be the company’s
Post-money
rn
continue through the rest marketing representatives and a valuation: best month for sales ever, a record just set in April.
of the year, according to a
als
few insurance-related roles such as $890M

memo CEO Dan Ammann claims experts and underwriters. that ensued after government agen- Coalition has about 25,000 cus-
sent employees. Investors:
“The environment is markedly cies across the nation issued shel- tomers and about 10,000 of those
-N
easier to hire people with the record Valor Equity ter-in-place orders in March, Coa- hold Coalition policies. Around 95%
Partners led the
number of layoffs in the Bay Area and lition managed to post its biggest of its customer base is small to mid-
ot
round, with par-

the technology sector,” CEO Joshua ticipation from sales month ever in April, Motta size businesses that generate annu-
for
Motta told me. “It used to be difficult Felicis Ventures, said. And May appears on track to al revenue of $250 million or less,
QUOTABLE for startups to attract people from Greyhound surpass that high water mark. he added.
Capital and
co
the large marquee companies like “First and foremost we are a The company plans to make
“Words cannot Facebook, Uber or WeWork. People
existing investors
cyber insurance company. We are its security platform available to
Vy Capital, Ribbit
mm
describe how sad felt it was riskier to join a startup, Capital, Hillhouse not a replacement for other cyber- all companies for free, not just its
but with Uber and WeWork layoffs Capital and Gree- security software. We supplement it policyholders.
I am that we find noaks Capital.
er
they are seeing these jobs are not with our software and services, like The funding will also be used to
ourselves in this secure. They’re beginning to realize providing free security scans of sys- expand Coalition beyond its U.S.
cia
Total raised:
position. It truly that startups that are growing and $125M tems whether they are our current and Canadian markets and into
hiring are places to go.” customers or prospective custom- Europe, as well as fund new prod-
lu
breaks my heart Despite the economic meltdown ers,” Motta said. uct development.
se
to say goodbye to
such a talented
group of people
PEOPLE ON THE MOVE
for reasons that
GAVIN PATTERSON
are outside of
New gig: Salesforce Previous gigs: Analysts say: Background:
their control.” President and tenure: Joined BT Group He has the expe- Chief revenue
chief revenue President and in 2004 and rience to not only officer is a new
GLASSDOOR CEO officer at Sales- CEO of Sales- moved up to grow the com- position at Sales-
CHRISTIAN force, effective force Internation- CEO of BT Retail pany’s enterprise force, and his
SUTHERLAND-WONG, Aug. 1 al for the last four before being sales but also its appointment is
in an email to employees months; joined as CEO of the um- business-to-con- seen as strength-
announcing the Mill Valley chair of Europe, brella BT Group sumer sales. ening the C-suite
review and jobs board Middle East and plc.; spent nine since Keith
site is permanently laying Africa operations years at Procter Block’s surprise
off 300, or 30% of its in 2019 & Gamble in mar- departure as co-
workforce, as the Covid-19 keting for con- CEO earlier this
crisis affects hiring globally. sumer brands. year.
BIO & HEALTH

[email protected] I
415-288-4939
RON LEUTY covers biotech, life sciences and medicine @rleuty_biotech
CLINICAL TRIALS Times in April.

Genentech also plans to spon-
2ND TRIAL OF
sor a 100-patient study of Actem-
ra in Covid patients with moder-
ate to severe pneumonia, and there
Co
are several other Covid studies of

Actemra run by doctors at academ-
py
POTENTIAL COVID
ic centers.
rig
But this latest trial, led by Genen-

tech’s head of U.S. medical affairs,
ht
Jamie Freedman, evaluates the drug
DRUG BEGINS
specifically with minority patients,
©
who data suggest are hit especial-

20
ly hard after being infected by

the novel coronavirus that causes
20
Covid-19. A study by New York City

health officials as of April 16 found
Am
that 33% of Covid patients whose

tion earlier this month gave Foster race was identified were black/Afri-
er
Minorities front and City-based Gilead Sciences Inc.’s can-American and 28.2% were His-
ica
drug remdesivir emergency use panic/Latino. About 31% of patients

center in Genentech’s authorization to treat Covid-19 were white and 7.7% Asian.
n
379-patient study patients. But researchers have said Genentech calls the trial EMPAC-
Ci
treatment eventually will rely on a TA, or evaluating minority patients

cocktail of drugs that could be used with Actemra. The goal is to enroll
ty
Genentech Inc. has dosed the first together or at various stages of the patients across the United States,
Bu
patient in a late-stage clinical tri- disease, which excites the immune including New York City.
al of its rheumatoid arthritis drug system to the point that the body’s The Phase III, randomized, dou-
sin
Actemra, targeting black and Latino disease-fighting army turns against ble-blind, placebo-controlled trial,
patients hit disproportionately hard the body. involves a single, body weight-de-
es
by Covid-19. Actemra, one of the drugs used pendent dose of Actemra and looks
The 379-patient study of hospi- by Chinese and Italian doctors on at how many patients between
sJ
talized patients with Covid-relat- the frontlines of those countries’ those given the drug and those
ou
ed pneumonia is the second trial Covid crises earlier this year, is who receive the placebo require
sponsored by Genentech that uses approved by the FDA for rheuma- mechanical ventilation by the 28th
rn
Actemra against the disease that toid arthritis, blocking overproduc- GENENTECH day. One additional dose also could
als
has killed more than 326,000 peo- tion of a type of small protein, called be given.
ple worldwide, including nearly cytokines, that promote inflamma- Jamie of Actemra, known scientifically The study’s secondary outcomes
100,000 in the United States. But tion. Infused intravenously, it also Freedman as tocilizumab. Results of that tri- look at the time it takes patients to
-N
this trial is unique in that South San was approved by the FDA in August became al in severe pneumonia patients improve by at least two categories,
Francisco-based Genentech and its 2017 to quell so-called “cytokine Genentech’s are expected this summer, possibly time to clinical failure, time to hos-
ot
Swiss parent Roche hope to tap storms,” or cytokine release syn- head of U.S. as soon as June, Dr. Mark Eisner, pital discharge and mortality rate by
for
30 U.S. hospitals that it says large- drome, in cancer patients who had medical affairs senior vice president for product day 28.
ly treat underserved and minority undergone so-called CAR-T therapy. in August 2019. development in immunology, infec- The trial is expected to be com-
co
populations. Genentech last month launched tious diseases and ophthalmology pleted in early August, according to
The Food and Drug Administra- its first, 330-patient Covid study for Genentech, told the Business a filing with Clinicaltrials.gov.
mm
er
cia
WALL STREET TIMING IS EVERYTHING

lu
TWO MORE BAY AREA BIOTECHS LAUNCH IPOS DYNAVAX SEES STOCK BUMP OFF HINT
se
Two South San Francisco biotechs Three of the six Bay Area IPOs this year have been from the After small but positive results May 18 DYNAVAX, BY THE NUMBERS
announced plans this month to IPO. life sciences sector. All doing quite well in a volatile market. from an early Covid-19 vaccine trial
• Applied Molecular Transport boosted an East Coast company’s
Inc., which is developing oral thera- stock 20%, an East Bay company said
pies for inflammatory diseases, filed
May 18 to raise $100M. Two investors
one or more of its partners could start
an early-stage trial of another vaccine
231 24
—Epiq Capital and Founders Fund — as soon as July.
own nearly 47% of its pre-IPO stock. ILife Revolution ORIC Pharma- Dynavax Technologies Corp. of Employees Years in business
The company has no revenue yet, Healthcare Inc. Medicines Inc. ceuticals Inc. Emeryville said it will update investors
posting losses of $29.9M in 2018 and on collaborations around its method
$28M last year. It plans to list on the What it does: What it does: What it does: for improving the immune system’s re-
Nasdaq with the symbol of “AMTI.”
• Pliant Therapeutics, which is
Owns One
Medical Group
Develops cancer
treatments
Develops cancer
treatments
sponse to a vaccine. Following the dis-
closure in a Securities and Exchange
$1.2B $130M
developing treatments for fibrosis, Commission filing in the afternoon of
filed May 11 to raise $86M. Third Headquarters: Headquarters: Headquarters: May 18, the company’s stock climbed Accumulated Cash/equivalents
Rock Ventures owns 32.3% of Pliant’s San Francisco Redwood City South S.F. more than 41% in after-hours trading to budget deficit as of March 31
pre-IPO stock. Pliant has raised $220 $6.88 per share. Dynavax stock closed
million. It plans to list on Nasdaq as Jan. 31 IPO: $14 Feb. 13 IPO: $17 April 24 IPO: $16 at $6.04 per share on May 20. 18 to $80 per share following en-
“PLRX.” Moderna Inc. of Cambridge, Massa- couraging results from an early stage
— Cromwell Schubarth May 20: $39.73 May 20: $35.93 May 20: $28.70 chusetts, saw a 20% stock bump May Covid-19 vaccine study.
MAY 22, 2020 9
Leslie R., Bank of America

Co Consumer Bank Team
py
rig
ht
©
20
20
Am
er
ica
n Ci
ty
Sharing our appreciation

Bu
sin
es
sJ
My teammates and I in the Bay Area are deeply grateful to those working on the front lines to fight a global
health crisis — the health care providers, first responders and essential service workers. This includes many
ou
across Bank of America who are working around the clock in financial and service centers to provide guidance
rn
and support to our clients.

als
We’re committed to our teammates’ safety and well-being, providing new and enhanced benefits, including free
access to virtual health care and emotional wellness programs, support for child and adult care, and meals for
-N
those in the office. Our extensive workplace health and safety measures adhere to the latest CDC guidelines.
Eligible teammates are paid based on their regular schedules, even if hours are reduced. We also increased our
ot
minimum hourly wage to $20, one year ahead of schedule, and have committed to no layoffs in 2020.
for
We are here to help. Please stay safe and well.

co
mm
er
Gioia McCarthy
San Francisco-East Bay Market President
cia
lu
For more information, please visit bankofamerica.com/helpfulresources.

se
Bank of America, N.A. Member FDIC. © 2020 Bank of America Corporation. All rights reserved.
HOSPITALITY & RETAIL

[email protected] I
650-815-5860
ALEX BARREIRA covers tourism, restaurants, retail and the arts @SFBTHospitality
IN BRIEF ARTIFICIAL INTELLIGENCE

CAFÉ AND BAKERY
FASHION FORWARD:
CHAIN SPECIALTY’S
CLOSING FOR GOOD
Co
Specialty’s Café & Bakery,

py
the chain known for its
A NEW WAY TO SHOP

crusty sandwich bread and
rig
delectable cookies, has

closed permanently.
ht
The 33-year-old chain

based in Pleasanton with
©
outposts throughout
the Bay Area said on its
20
website that Covid-19 and ABOUT THE

shelter-in-place policies Startup from Stitch Fix FOUNDERS
20
“have decimated company

Julie Bornstein:
revenues.” COO aims to make She was COO at
It’s an ominous sign for
Am
online shopping easier Stitch Fix for six

commercial landlords in
years, led mar-
business districts when a
keting and digital
er
staple for office workers

efforts at Sepho-
like Specialty’s can’t sur-
ica
Overwhelmed by online shopping? ra and oversaw

vive the pandemic.
The Yes, a startup launched May 20, e-commerce at
Specialty’s had 55-plus
Urban Outfitters
n
locations in California, wants to make the experience a lot

and Nordstrom.
Ci
Washington and Illinois, easier by leveraging artificial intel- com.

according to its Twitter ligence to simplify and tailor the
ty
account.
clothes-buying experience. Amit Aggarwal:
He was most
Bu
The Yes uses proprietary back-

MISSION DOGGY DAY- end technology to “build a store recently an
entrepreneur in
sin
CARE GOES BELLY UP around each user,” CEO Julie Born- residence at Bain
A popular dog-sitting
stein and Chief Technology Officer Capital Ventures
es
business in San Francisco’s Amit Aggarwal told me. Bornstein and chief tech-
Mission District just filed was chief operating officer at Stitch nology officer
sJ
for bankruptcy. Fix, an online personal styling ser- of e-commerce

The canine care facility, software compa-
ou
vice that uses AI, for six years. ny BloomReach.

EmBARKadero Social Club
at 1766 Mission St., filed
“The idea that you can leverage Before that he AMANDA MOLINA
rn
for Chapter 7 bankruptcy technology today to make that shop- was in various Co-founders Amit Aggarwal and Julie Bornstein want to “build a store
roles at Google,
als
liquidation on May 11. The ping experience much more custom around each user” using 500 attributes for every product.
company, founded in 2010 is a promise we’ve seen come to life Bing, Instacart
and owned by Luis Lozada, and Groupon.
in music with Spotify, the way You- and onboarding new brand part- needed to build for the future you
-N
listed liabilities of $50,000

or less and monthly ex-
Tube does their recommendation ABOUT ners. The company has three pat- need to start from scratch.”
penses of $14,000. process,” Bornstein said. “Instead of THE YES ents pending for its technology. The platform has sealed deals
ot
“I used to have 50 having recommendations as a side Offices: The e-commerce company, in with about 150 partners, includ-
dogs and now I have five,”
for
thought or afterthought, our entire Burlingame and development since 2018, adds to the ing Gucci and Balenciaga and local
Lozada said, adding he engine is built off of that capability.” New York City growing list of companies attempt- brands such as Levi’s and Ever-
expects to keep running
co
his business until he hears

Customers can shop for more ing a symbiosis of fashion and tech- lane. The Yes is also working with
Series A:
from the bankruptcy than 150 brands of women’s cloth- $30M nology, including Stitch Fix and direct-to-consumer brands such as
mm
judge. Documents show ing using an iPhone app. Men’s high-end consignment platform Cuyana.
that Lozada had four years fashion and an Android app will Investors: The RealReal, as traditional retailers The company’s launch was
remaining on his lease in Jon Callaghan,
er
come later. are re-evaluating their game plans planned for late March, but was
the Mission and had taken Forerunner Ven-
Aggarwal said the startup’s tech- amid the Covid crisis. postponed given the shelter-in-
cia
out a $35,000 loan from tures, Comcast

Bank of America on Feb. 1 nology takes into account about 500 Ventures, Tony “It’s hard to start from scratch place orders and health crisis.
for his planned expansion attributes for every product to pro- Florence and when you’re a big company that has “We do realize that the business
lu
of the EmBARKadero So- vide a deep sense of personalization. Bain Capital lots of systems and infrastructure,” model we’ve set up is more import-
cial Club to Sunnyvale.
se
He said the platform was designed said Bornstein, who helped build ant than ever, as a platform that
“We never terminated
that lease,” he said. “I tried
to address the challenges associat- Nordstrom’s web platform. “But my works directly with brands,” Born-
to talk to him but he never ed with machine learning models, knowledge of those systems made stein said. “All of them need addi-
answered me back.” such as incorporating user feedback me realize that to build what we tional support.”
PEOPLE ON THE MOVE

KEVIN RABBITT
New gig: Previous gig: About Hornblower: Quotable:
CEO of the CEO of NEP The San Francisco company has “Hornblower is a business I’ve long admired, and I am
Hornblower Group, global offices in Chicago, New York and honored that Terry is entrusting me to take his vision
Group starting provider of London. It operates the official ferry forward,” said Rabbitt, who’s been a member of the
in July, replacing tele-production boat service to Alcatraz Island, the Hornblower board since 2018. “In these unprecedented
Terry MacRae, services for Statue of Liberty National Monument times, there will be challenges alongside opportunities.
who will continue major events, and Ellis Island Memorial Museum on And I look forward to ensuring that the business is well
as chairman since 2012 behalf of the National Park Service. positioned to come out stronger in the months ahead.”
MAY 22, 2020 11
MONEY
[email protected] I
415-288-4950
MARK CALVEY covers banking, finance and the economy @SFBTmoney
PPP UPDATE REAL ESTATE ketWatch. “Inventory is down 25%

year-over-year, and home buying
‘iBUYERS’
demand is almost back to pre-pan-
demic levels.
“So we’re willing to take a risk,”
Co
Kelman said. “When we make

offers, if we give ourselves just a lit-
py
PIVOT AMID
tle more room for all the risks that
rig
we’re taking, will people accept it?”

Opendoor debuted Home
ht
Reserve in Raleigh and Phoenix

this month to help overcome a sell-
©
THE NEXT
PANDEMIC
er’s reservations on accepting the
20
company’s iBuyer offer. After all,

STEP FOR no one likes being told they won’t
20
get as much money for their house

PPP LOANS as they expected.
Am
Opendoor’s Home Reserve

As most of the currently allows a client to “test the mar-
er
available money from the ket” by putting their house on the

SBA’s Paycheck Protection Can tech-focused
ica
market with an Opendoor partner

Program has been distribut-
agent. With Home Reserve, Open-
ed, the focus has turned to services succeed amid
n
what recipients must do to door will buy the house directly if it

declining home prices?
Ci
get the loan forgiven. Here’s doesn’t sell in 120 days, but almost
what you need to know right certainly for less than the client
ty
now. hoped to get on the open market.

Bu
RR75% of PPP funds have Opendoor was on a growth tear As part of the Home Reserve ser-
to be directed toward ahead of the pandemic that upend- vice, Opendoor pays all cash for
sin
payroll expenses for full ed the nation’s housing market. The the client’s next home, so the cli-
loan forgiveness, while the
San Francisco company had more ent can move as Opendoor seeks to
remainder can be spent on
es
overhead costs. Without than 1,800 employees and grew to sell their former home.
operate its home-buying business The Home Reserve client must
sJ
forgiveness, loans mature at

an interest rate of 1%. in more than 20 markets across the be pre-approved for the mortgage
ou
RRThe loan forgiveness ap-

country. Then the music stopped. BUY INSTANTLY to pay for the new house and must
plication published online by Stay-at-home orders to stem the close on the purchase within 120
rn
the SBA includes additional spread of Covid-19 forced the com- days. Opendoor also advances the
details like more flexibility
als
pany and its rivals to stop offering Home Reserve client up to $5,000
around alternative payroll home sellers a near-instant all cash to ready their existing home for sale.
periods and the ability to use
sale for a fee, known as iBuying. The Opendoor and its rivals captured
-N
loan funds for costs incurred

during the loan period. move raised questions about the the desired national headlines that
viability of the business model in GETTY IMAGES | SFBT ILLUSTRATION they had returned to iBuying. But
ot
RRExperts say bonuses can

a world where housing prices may most home sellers will only look
likely be used to get up to
for
the 75% payroll expense not climb from one year to the next. The Covid-19 Offerpad, depend more heavily on longingly at the days before the eco-
figure, but SBA guidance “Opendoor lost its engines in outbreak has their iBuying services. nomic downturn when they could
discourages additional com-
co
flight,” Mike DelPrete, a real estate thrown cold But Opendoor and the others sell their homes directly to an iBuy-
pensation to the business tech strategist in Boulder, Colorado, water on the are also taking steps to reduce their er for not much more than they’d
mm
owner.
told me. “It was an existential crisis iBuying model risk in the notoriously cyclical resi- pay a real estate agent in a tradition-
RRKey to applying for loan and a threat to the longevity of that of offering dential real estate market, charging al sale.
forgiveness is detailed docu-
er
business.” home sellers a higher fees to buy a home — toward “Beforehand, all iBuying busi-
mentation and transparency This month, the company quick cash sale the higher end of its 6% to 12% range nesses had the same challeng-
cia
into what the money was

used for.
resumed the service in select marin exchange for in Opendoor’s case. Clients also are es around profitability. It’s very
kets. Opendoor was the first to a percentage going to have to adjust their home- risky. It’s a very capital intensive,
lu
RRWhile PPP funds them- resume iBuying, followed by Offer- fee. price expectations to a new reality. low-margin business. All of the
selves aren’t taxable,
se
pad and Redfin. Zillow also resumed “The reason we’re reopening it is iBuying businesses were unprofit-
businesses aren’t able to
“double-dip” or deduct the iBuying, but it has the added bene- because we think it’s a reasonably able,” DelPrete said. “During and
expenses that were paid with fit of having several sources of reve- good time to own a house,” Red- post-coronavirus, the challenges
the funds. nue. Opendoor and Phoenix-based fin CEO Glenn Kelman told Mar- are greater.”
FUNDING WATCH
Company: Why now: Investors: Covid-19 response: Quoted:
S.F.-based credit Brex said it would use the money to DST led the Brex has launched contactless “We’re glad to have additional capital
card for start- further invest across engineering, round with payment support for Apple Pay and at a time when customers need us
ups company product and design functions in order participation by Google Pay and helped its customers to be focused 100% on providing
Brex raised an to improve expense management, Lone Pine Capital obtain millions in SBA Paycheck services and solutions to help them
additional $150M procurement and software tooling and existing Protection Program loans. Still, the navigate these challenging economic
amid a difficult for its customers. The company also investors. In all, loss in revenue and spending from times,” Brex co-founder and co-CEO
economic stated that it plans to use small acqui- Brex has raised its customers has led to cost-cutting Henrique Dubugras said in a state-
climate for many sitions to supplement its hiring and $465M, with a moves by Brex including reportedly ment.
of its customers. product development efforts. $2.6B valuation. lowering some customer credit limits.
INNOVATION
BRIAN RINKER covers startups, health tech and entrepreneurs
ENTREPRENEUR ness to tech layoffs and to help those

who’ve been cut find new jobs, Lee
FOUNDER’S SITE
said.
Besides a tally of all the layoffs,
the site lists employees who have
Co
been laid off so companies and

recruiters can find them easily, as
py
TRACKS LAYOFFS
well as a list of companies current-
rig
ly hiring. The company relies on a

loose definition of “startup” that
ht
includes both private and public

companies. Lee thought it best to
©
include all companies perceived as

20
startups even if they were traded

Roger Lee took time off on the public market, like Lyft and
20
Uber, for example.

to raise kids, became de Before his life became exclu-
Am
facto layoff authority sively about tracking layoffs, and

his family, Lee co-founded a start-
er
up in 2015 called Human Interest,

ica
When Roger Lee isn’t talking with a digital 401(k) provider for small
his wife about raising their two chil- businesses, which has grown from
n
dren, he’s bending her ear on the about 40 employees two years ago
Ci
growing number of employees tech to 150 today and has raised a total
companies — big and small — have of $75 million.
ty
shed since March as they scram- It’s not the first time Lee has
Bu
ble to cut costs in the wake of the created popular websites. When
financial crisis brought about by he was 13 years old, he and friends
sin
Covid-19. launched a successful collection of

“If we’re not talking about our social networking sites for teen-
es
kids’ misbehavior, it’s about what’s agers called SubProfile Networks.

happening in the world of layoffs The most popular site attracted 7
sJ
these days,” Lee told me. million unique visitors a month,

ou
By Lee’s count — and yes he’s which allowed Lee, and his teenage
counting, having created a track- co-founder, to each take in six fig-
rn
ing website called Layoffs.fyi — 447 ures a year by the time he was 16
als
tech companies located around the years old.

world have laid off 58,574 employ- After that, Lee went on to study
ees since March 11. ERIC MILLETTE applied mathematics at Harvard
-N
In the Bay Area specifically, more University and started a design

than 100 tech companies have shed As the financial crisis worsens, Roger Lee is outlets like Bloomberg, Washing- software company called Thunder
ot
more than 11,000 employees. and layoffs increase, Lee’s site has the creator ton Post, NPR and the San Francis- before founding his current com-
for
On May 18, for instance, Uber not only grown in popularity — of Layoffs. co Business Times. pany Human Interest.
laid off 3,000 employees. That’s in 30,000-40,000 visits a day — but fyi, which has The website also offers a place Lee held the CEO title there until
co
addition to the 3,700 it cut earlier has become the de facto authori- become the de for those who have lost their jobs recently, when he stepped aside to
this month. Then there’s Lyft cutting ty for the tech community and the facto authority to connect with employers who become a board director and spend
mm
982 employees and Trip Advisor let- media outlets that cover it. Layoffs. on tech layoffs. are still hiring. In fact, the impe- most of his time with his newborn
ting go 900, and the list goes on. fyi has been cited in major media tus for Layoffs.fyi is to bring aware- baby and 3-year-old toddler.
er
cia
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THE FUNDED
se
GAMING CHAT UNICORN Envoy

Inc.
Clear Labs
Inc.
Deep Labs
Inc.
Meru Health
Inc.
Quartz Systems
Inc.
FeaturePeek
Inc.
COULD SEE VALUE DOUBLE

Discord Inc., the creator of a go-to collaboration tool for
gamers, is reportedly raising a round of funding that could
$30M $18M $16M $8.1M $7.8M $1.8M
double its valuation.
Bloomberg cited unnamed sources who said the San
Francisco startup is in talks for a round that could hike its San Francisco San Carlos San Francisco San Mateo San Francisco San Francisco
valuation to as much as $4 billion. It was valued at about
$2 billion when it raised a round in 2018, according to This workplace Redmile Investors in this The Foundry Baseline Ventures Seed investors
PitchBook Data. management Group led the AI decisioning Group led the led the seed in this front-end
While Discord’s free video, voice and text technology platform maker investment in this and risk systems Series A funding and pre-seed review process
was big with the gaming crowd before the pandemic, raised funding developer of a maker include of this mental funding of this company include
it has picked up new users for other types of virtual from TriplePoint next-generation- Serendipity health startup. construction Matrix Partners
gatherings. U.S. daily voice users reportedly grew by 50% Capital. sequencing Capital, It was joined by tech company. and angel
since the start of the year. Discord has raised nearly $300 (NGS) Gramercy Slack and Bold It was joined by investors.
million in funding from investors who include Greylock diagnostics Ventures Capital. Felicis Ventures,
Partners, Benchmark and Institutional Venture Partners. platform. and Gunnar Lemnos and
— Cromwell Schubarth Overstrom. Bloomberg Beta.
MAY 22, 2020 13
SPONSORED BY [email protected] I
415-288-4923
@BizRinker
LAYOFFS THE BIG NEW UNICORN

NUMBER
Y COMBINATOR GRADUATE EDTECH’S AI Plans: half of college
5,500 APP ATTRACTS

Expand its ma- students use
chine-learning Quizlet.
CUTS ITS WORKFORCE products and

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The number of provide enough Employees:

NEW INVESTMENTS
PPP applications capital for poten- The company
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Mixpanel, a San Francisco-based an- processed by Sil- tial acquisitions closed 2019 with
alytics company once valued at $865 icon Valley Bank San Francisco-based Quizlet is the more than 150
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million, has laid off 65 employees — in the past six latest member of the billion-dollar Investors: employees and
19% of its workforce. weeks, totaling unicorn club, with its latest valuation New York private added offices
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“We are a 10-year-old company, so more than $2B in five times higher than it was in 2018. equity firm Gen- in London and
have weathered our share of ups and loans. The bank eral Atlantic led Denver.
©
downs,” CEO Amir Movafaghi said. counts more than What it does: CEO: the funding. In
“Still, given the unpredictable nature half the startups Online learn- the first quar- How it
20
of the pandemic, we will be ensuring in the U.S. as ing platform. ter of the year, makes money:
the long-term sustainability of Mix- Mixpanel co-founders Suhail customers. While Students can venture firms in- The bulk of the
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panel with this difficult decision.” Doshi (left), and Tim Trefren startups flooded create online jected $2 billion content is free,
Half of the layoffs were in San SVB with appli- study guides and in funding into with premium
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Francisco, and spanned across sales, and Tim Trefren, Mixpanel hasn’t cations for the take advantage edtech compa- services available
marketing and general/administrative raised money since 2014, when it first wave of PPP of its machine nies, according to paid subscrib-
positions. The company now employs landed a $65 million Series B round loans, interest learning. The to Pitchbook. ers. Quizlet also
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277 people. In the Bay Area, 111 tech from Andreessen Horowitz. To date hasn’t been as company says generates reve-
companies have made cuts since the company has raised more than strong for the it has 50 million Matt Glotzbach Growth: nue selling ads.
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March, according to Layoffs.fyi. $75 million and has eight offices second round, users a month. Quizlet has In January the
Mixpanel’s analytics platform lets worldwide from San Francisco to the bank said. Funding: seen 200% to company said
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businesses analyze and measure New York to Paris to Singapore. Founded: Raised a $30M 400% growth it was pursuing
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customer data, which helps them to A graduate of Y Combinator, — Cromwell 2005, by Andrew series C this since school new revenue
identify trends in behavior. Accord- Mixpanel has assembled some of the Schubarth Sutherland, a month, with a closures began streams overseas
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ing to its website, customers include biggest names in tech on its board— high school valuation of $1B in response to and partnered
Uber, Twitter, DocuSign, Expedia and Marc Benioff of Salesforce, Co-found- sophomore and $62M in total Covid-19. In the with professional
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Ancestry, and 30% of Fortune 100 er of PayPal Max Levchin and Keith VC funding U.S., two-thirds tutoring services.
companies. Rabois, general partner at Founders of high school
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Founded in 2009 by Suhail Doshi Fund and former COO of Square. students and
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OUR PROFOUND
GRATITUDE TO
THE BAY AREA CAREGIVERS AND FIRST RESPONDERS in the front lines, including our tenant
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companies in the medical sector whose expertise, agility, sacrifice, and devotion are heroic:
Stanford Health Care, Marin General Hospital and UCSF.
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WAREHAM RESEARCH TENANTS AT OUR EAST SHORE CAMPUSES, who share exciting and
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hopeful news.
©
20
05.18.2020 Triphase Accelerator and Catalent Announce Interim Results of a Dose Escalation
Phase 1 Clinical Trial of TRPH-222 in Patients with Non-Hodgkin’s Lymphoma.
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04.30.2020 Pivot Bio raises $100 million to transform agriculture economics.

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04.24.2020 Berkeley Lights launches new capabilities to empower Opto Cell Therapy
Development 1.0 workflow.
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04.21.2020 Sangamo taps Mogrify for off-the-shelf CAR-Treg project.

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04.15.2020 Berkeley Lab X-Ray facility mobilizes to support COVID-19-related research.

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04.14.2020 UC Berkeley lab makes free hand sanitizer for the needy.
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04.14.2020 Ligandal is developing potential antidote and vaccine to SARS-CoV-2.

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04.10.2020 Steris announces decontamination solution for respiratory masks.

04.09.2020 Sangamo announces closing of Biogen collaboration agreement.
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04.06.2020 ABPDU capabilities available to support COVID-19 efforts.

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04.06.2020 JBEI making biofuels cheaper by putting plants to work.

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04.04.2020 LBNL’s NERSC Supercomputer to help fight Coronavirus.

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03.26.2020 Rigetti Computing wins $8.6 million DARPA Grant.

03.26.2020 Amyris launches leading hand sanitizer.
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03.25.2020 Berkeley Lights announces GEPAD Consortium to attack COVID-19 and other viruses.
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03.25.2020 Pivot Bio launches FFA video contest to support at-home learning.
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03.20.2020 Novartis and others to supply tens of millions of chloroquine tablets to fight COVID-19.
03.19.2020 Zymergen announces acquisition of enEvolv.
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03.17.2020 Eureka Therapeutics completes $45 million Series E financing.

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for
THE WAREHAM TEAM of exceptional property managers, engineers, security officers, and janitorial staff, who keep
co
our buildings safe and operational so the essential businesses at our campuses may continue their vital work.
mm
AND, IN CELEBRATION OF EARTH DAY 2020, we are also grateful to the bees, caterpillars, and butterflies, who
have been working full-time in our organic gardens while the rest of us have been working from home or as part of
er
staggered teams.
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Distinguished buildings for noble and Nobel scientists.
WAREHAMDEVELOPMENT.COM | Emeryville | Berkeley | Richmond | Palo Alto | Marin

MAY 22, 2020 15
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THE WAR
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AGAINST COVID
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Companies pivot to develop treatments, tests, vaccines

PAGE 16
Will biotech’s fast The Bay Area’s Mapping the Bay New gene Lists of biopharma
Covid response synthetic biology Area’s hottest therapies target firms and VC-
help its reputation? evangelist clinical trials one-shot treatment funded biotechs
PAGE 19 PAGE 20 PAGE 24 PAGE 26 PAGE 36
GETTY IMAGES | SFBT ILLUSTRATION
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ANSWERING THE CALL

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IS EVERY
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doctors determine if a patient’s “This is the pose drugs against the disease; for
Bay Area biotechs find immune system is attacking a moment we others, like CareDx, the pandem-
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transplanted lung, heart or kid- need to step ic has forced them to reach out to
ways to join the fight ney and whether critical drugs up,” says existing customers with new tech-
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against coronavirus that suppress the immune system CareDx CEO nologies and services.
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should be adjusted. Peter Maag. “You could say that every com-
But after 22 years of building pany is a Covid company now,”
TODD JOHNSON |
BY RON LEUTY that testing business, could the SFBT Maag said.
[email protected] 400-employee company set up
and integrate a mobile blood test- Balancing act
As Covid-19 tore through the Unit- ing service? Four days later, CareDx Perhaps the best-known transition
ed States in mid-March, Peter Maag launched its RemoTraC home- is Gilead Sciences Inc. The Foster
got a call at his home office from a based blood draw product for a City-based company, which built its
heart transplant specialist in New mobile army of phlebotomists. reputation with a portfolio of drugs
York: Could Maag’s Brisbane com- Just like that, the transplant test- against the AIDS virus and hepati-
pany help patients who were missing company had joined the fight tis C, within months turned a drug
ing important blood-draw appoint- against Covid-19. But it isn’t alone. that had failed against the Ebola
ments out of fear of contracting Covid-19 has forced Bay Area virus into the world’s most-prom-
Covid-19? drug, diagnostic and device com- ising treatment for Covid-19 to
The request wasn’t unusual. panies to confront the pandem- date.
After all, Maag’s CareDx Inc. had ic for different reasons. For some,
developed a surveillance test that Covid-19 has stalled work against
uses a simple blood draw to help other diseases as they look to repur- CONTINUED ON PAGE 18
MAY 22, 2020 17
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GOP II and III renderings

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Discover
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Gateway of Pacific sets a new standard for collaborative research

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campuses with an amenity rich environment that inspires innovation
Here
and discovery at the front door to South San Francisco’s flourishing
® biotechnology community.
www.gatewayofpacific.com
BAY AREA BIOTECH
CONTINUED FROM PAGE 16 MARCHING TO FIGHT COVID-19

A sampling of companies that have pivoted to work on Covid-19 drugs, diagnostics or devices:
Theravance Cytovale iRhythm Eiger BioPhar- ExThera Color Fluidigm
Examples of similar shifts Dosed its first The San Fran- The remote car- maceuticals Medical In March, the University of
abound. patient in April cisco company diac monitoring The Palo Alto The Martinez genetic test Oklahoma
Inspired by doctors in China in the South expanded a part- company, based company company’s Ser- developer, researchers
and Italy who used its rheuma- San Francis- nership with the in San Francisco, dosed the first aph 100 blood based in Burlin- applied for FDA
toid arthritis drug Actemra against co company’s federal Biomed- is offering home mild Covid-19 filter, approved game, opened emergency use
54-person safety ical Advanced enrollment of outpatient last in Europe in the a Covid-19 authorization for
Covid-19, Genentech Inc. expects to
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trial with the Research and its Zio products month in a Phase third quarter of testing lab with a Covid-19 test
report data next month from its tri- drug TD-0903, Development for doctors to II trial of its drug 2019, won FDA open-source that uses South
al against the disease. Blade Thera- an experimental Authority to do a care for Covid-19 peginterferon emergency use infrastructure San Francis-
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peutics Inc., a 25-person company treatment of hos- pilot study of its patients and lambda. About authorization to and launched co-based Flui-
pitalized patients rapid sepsis di- existing cardiac 60 patients will purify the blood and expanded a digm’s microflu-
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in South San Francisco, redirected

with acute lung agnostic system patients who receive the drug of Covid-19 partnership with idics technology
a drug toward a potential Covid-19 injury caused for patients with must shelter in and another 60 patients to im- San Francisco and reagents.
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study after the pandemic restricted by Covid-19. potential respi- place during the a saline place- prove vital signs health officials to
a clinical trial of the drug in patients The company ratory infections, pandemic. A New bo to see if the associated with test any public
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with a lung-scarring disease called believes the drug including those York hospital sys- drug reduces inflammation and or private sector
20
idiopathic pulmonary fibrosis. And could inhibit the with the Covid tem is using an viral shedding tissue damage. “essential work-
“cytokine storm” virus. iRhythm product by the novel er” in the city.
36-employee GigaGen Inc., which
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associated with to monitor the coronavirus that

had largely focused on cancer, acute lung injury heart rhythms of causes Covid as
turned much of its work toward and prevent Covid patients in well as reduce
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recombinant antibodies designed progression to the hospital as symptoms and

to attack the Covid-19 coronavirus. acute respiratory well as remotely. hospitalization of
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distress syn- those patients.

“There’s sort of an obligation. drome.
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Everyone in the world has to come

together and think about what they
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can contribute,” said Ritankar Das,

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the CEO of Dascena Inc., an Oak-

land company that has developed
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an algorithm for the early detection

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of sepsis in hospitals and is looking

at similar work against Covid-19.
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The real-time evolution of com-

panies toward Covid-19 may not be
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such as the Biomedical Advanced
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Research and Development Author-

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lions of dollars to support large and
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small companies with technologies

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for testing or treating Covid-19, and

science is known for gravitating to
hot opportunities with big money.
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Emergency use authorizations,

or EUAs, have lowered the bar for
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companies to get the Food and

for
Drug Administration’s blessing of

a drug, device or test in exchange
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for companies’ promises that they

will submit more-rigorous proof of
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a product’s efficacy or accuracy.

It is a fine balancing act, FDA
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Commissioner Stephen Hahn

acknowledged in a May 12 Sen-
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ate hearing, between the agency’s

mandate to oversee safe and effec-
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tive products and the urgent need

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to make potentially life-saving

products available to patients. Many to do testing and validation.” also stopped. small companies, according to BIO.
Some in the biomedical indus- companies But while many companies have “Lots of companies are going “It is the nature of small bio-
try have complained that EUAs for have no pivoted to what they can do against through a challenging time. Work is tech companies to be nimble and
a handful of new-age blood tests option but to Covid-19, others have stopped in being put on hold,” Page said. “We’re innovative,” said BIO President Jim
to detect viral antibodies — seen put projects their tracks. just grateful for the opportunity.” Greenwood. “I’m not all that sur-
as critical to bringing people back on hold, says Caption Health Inc. CEO Andy prised they can turn on a dime.”
to work — are not as good as they Caption Health Page — whose Brisbane company Real-world demos Take Fluidigm Corp., a South San
should be. CEO Andy this month secured an expedited Indeed, Covid-19 offers opportuni- Francisco company that designs
“Every kind of amateur could Page. FDA clearance of its updated heart ty within a tragedy. According to the and makes research equipment
produce an antibody test,” Sev- imaging software, thanks in part Biotechnology Innovation Orga- based on fluidic circuit technology.
PAOLO VESCIA
erin Schwan, chairman of Roche, to its potential use on Covid-19 nization, a national biotech trade That work is the source of an FDA
the Swiss parent of Genentech and patients — said many companies group, some 400 unique Covid-re- emergency use authorization for a
Pleasanton-based Roche Molec- have no option but to put projects lated drug projects were launched Covid-detection test developed at
ular Solutions, said in April. “The on hold. Hospitals have restrict- within 16 weeks this year, includ- the University of Oklahoma.
two of us could do it overnight in ed access to mitigate the spread of ing 101 experimental vaccines. “These are real-world demon-
the garage. The question is, does it the virus, so many clinical trials of More than 70% of Covid research stration projects,” said Flui-
really work? And for that, you have drugs, devices and diagnostics have and development is being led by digm President and CEO Chris
MAY 22, 2020 19
BAY AREA BIOTECH
Linthwaite. “Covid is only an exam- “There’s POLITICS it an ‘innovation’ story,” Maybarduk

ple of the problem, but what would said. “That will be used under the set
normally take years to get a pro-
gram through government approv-
sort of an
obligation.
COVID STRENGTHENS BONDS of ideas that ‘We’ve got bigger things
to worry about than price.’”
al is now being done in 24 hours.

The cycle time is improving for Everyone BETWEEN BIOTECHS, REGULATORS But Jim Greenwood, president
of the Biotechnology Innovation
Organization trade group, said
everyone.” in the The quick response of drug, device George science is “galloping … and it is only
The shift is occurring at the inter- and diagnostics companies to the Scangos, bad policy that can stop all of that.”
section of timing and opportunity.
world has Covid-19 pandemic may buy them CEO of Vir In an industry where investors bet on
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something of longer-term value: time. getting a big drug win, price controls
CareDx last year bought Oma- to come In a highly charged election year,
Biotechnology take away the incentive to invest.
ha-based organ transplant track- Inc. That is a longtime storyline for an
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together which typically puts drugmakers

ing software and electronic medi- in the crosshairs of politicians, industry that claims it takes upwards
and think
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cal records company OTTR for $16 the industry’s potential success in of $1 billion over a decade to bring a
developing drugs, vaccines and tests blockbuster drug to market. Gilead
million with the idea of becoming
about
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against the deadly disease may help said it will spend $1 billion on
a broader “personalized medicine” drugs, vaccines and tests. developing remdesivir. It is donating
it avoid rancorous issues such as
company to manage transplant what they
©
drug pricing. The FDA has worked with more the first 1.5 million vials of remdesivir.
patients on wait lists, match organs “I think this will certainly help than 500 companies that have San Francisco’s Vir Biotechnology
can con-
20
with recipients and care for them the industry’s reputation,” Gilead applied, or soon will apply, for Inc., which is working on monoclonal
with tests and electronic remind- tribute.” Sciences Inc. Chairman and CEO Dan emergency use authorizations that antibody approaches to defeating
20
O’Day said in late April, days before permit their Covid tests to hit the Covid, plans to spend a half-billion
ers to take anywhere from 12 to 15 market and requires them to return dollars on its Covid programs as it
the Foster City company rolled out
immune-suppressing drugs a day. with deeper data for full regulatory preps a drug to enter clinical trials
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clinical data that quickly led the Food

The Omaha digital team proved and Drug Administration to greenlight approval, FDA Commissioner Stephen this summer. It has signed Covid
essential to CareDx launching its its Covid-fighting drug remdesivir. Hahn said this month. deals with more than a half-dozen
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mobile blood testing service in “I think the tone is different in But the coziness between companies over the past two months.
Washington. I think people are very regulator and industry isn’t The industry is doing the right
ica
March, Maag said. The compa- things, said Vir CEO George Scangos,
appreciative and concerned about necessarily a good thing, said Peter
ny hired 50 patient account man- finding solutions here,” O’Day said. Maybarduk of watchdog Public who also is coordinating the BIO
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agers to monitor thousands of “And it’s brought us all together, Citizen. While debate begins on group’s information clearinghouse
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patients across 140 transplant cen- which I think is a good thing.” what type of price break the federal for collaborations between normally
ters nationally. Indeed, companies and their government should get on remdesivir competitive companies. That focus,
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RITANKAR DAS, he said, is holding off discussions on

“We just absorb the cost right federal regulators have cooperated in return for its early support of
CEO, broad issues such as drug pricing.
at unprecedented levels during research, he said, the issue of pricing
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now. We see this as a service,” Maag Dascena Inc. “The general issue has taken a
the Covid-19 crisis, with the FDA for other treatments recedes.
said. “This is the moment we need easing regulations to speed the “The industry PR folks are smart backseat,” Scangos said, “just to get
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to step up.” development of potentially life-saving enough to wink and nod and make something that works.”
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ENTREPRENEURSHIP
SCIENTIST HELPS
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BRING SYNTHETIC
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BIOLOGY TO LIFE
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JOHN
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CUMBERS John Cumbers works

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Education:
Ph.D. in molec- behind the scenes to
ular biology, cell
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biology and bio-

advance his field
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chemistry from
Brown Universi-
ty
ty; a master of BY ALISHA GREEN

science degree
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[email protected]
in bioinformatics
from Edinburgh
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University; John Cumbers told his graduate

undergraduate school supervisor that he didn’t
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degree from the think he was going to win a Nobel

University of Prize. He did, however, think he
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Hull in comput-
might one day connect two people
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information who would go on to win the Nobel

engineering Prize together.
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“I felt quite proud of that, that I

The resume:
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would have been the catalyst that

Cumbers spent
created that Nobel Prize,” Cum-
seven years
working on bers said. “But my supervisor kind
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synthetic biology of looked down his nose at me and

at NASA’s Ames said, ‘Well, I think a lot better of you
ot
Research Center John.’”

in Mountain View.
for
His supervisor might feel differ-

He has been in-
volved in multiple ently now about the power of con-
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startups focused necting people, seeing the impact

on problems like Cumbers went on to have in the
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producing food synthetic biology movement. Cum-

for space, devel-
bers founded the innovation net-
oping microbes
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to extract lunar work SynBioBeta in 2012, and Bay

and Martian re- Area biotech leaders say the group is
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sources and even a key player in advancing the field.

hoverboards. Cumbers describes synthetic
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biology as “a movement to make

Current role:
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Founder of inno- biology easier to engineer,” speci-

vation network fying it is not necessarily so much
SynBioBeta about what someone is making, but
the way they are making it. He was
Main focus:
drawn to the topic through his edu-
Education on the
use and adoption cation in software engineering, bio-
of biological informatics, molecular biology, cell
technologies biology and biochemistry. Synthet-
ic biology appealed to him as a way
of applying engineering to biology.
He came to Silicon Valley in 2008
for a job at NASA’s Ames Research
Center in Mountain View, where he
spent seven years working on syn-
thetic biology for the space agency.
TODD JOHNSON |
SFBT CONTINUED ON PAGE 22
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MAY 22, 2020
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TODD JOHNSON | SFBT

John Cumbers, founder of innovation network SynBioBeta, here with a VR headset, describes synthetic biology as “a movement to make biology easier to engineer.”
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CONTINUED FROM PAGE 20 “John really had the insight that what else is possible. He traces that
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that conference, that melting pot of spirit back to Cumbers.

businesses and investors and entre- “He’s got this rare combination
ot
During that time, the region’s start- preneurs, was missing,” Leproust of extreme empathy and active lis-
for
up vibe rubbed off on him, he said. said. Twist was in the first wave of tening skills combined with a vision
“I could talk the talk of the inves- synthetic biology companies to go for awesome, like, ‘Wouldn’t it be
co
tors and I could talk the talk of the public in late 2018, raising some great if things were like this?’ And
startups,” he said, and it felt natural $70 million, and now has more than he operates at the intersection of
mm
to him to apply that savvy to his pas- 300 employees. both empathy and vision with
sion for synthetic biology and con- SynBioBeta has been “extremely almost no ego,” Endy said.
er
necting people. helpful” in raising the visibility of Some 1,300 people attended the
He put on the first SynBioBeta Twist, and it has been instrumen- last SynBioBeta event, which fea-
cia
conference in November 2012 in a tal in the success of Twist’s market- tured speeches from Gov. Gavin
room at the Orrick law firm office ing, sales and fundraising, Leproust Newsom and former Google CEO
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in Menlo Park. Around 150 people said. Eric Schmidt. SynBioBeta’s online
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showed up to the standing-room The SynBioBeta group and its events draw in more than 500
only event, and the guest list reads conferences highlight Cumbers’ viewers each week, and more than
like a who’s who of the synthetic values of enabling others without 10,000 people subscribe to the
biology field. Attendees included getting in the way, said Drew Endy, group’s newsletter.
the future founders of Twist Bio- associate chair of bioengineering at Even with this wide reach, Cum-
science and Zymergen, along with Stanford University. bers, for his part, simply describes
the heads of Bolt Threads and Gink- “SynBioBeta is responsive to himself as a natural profession-
go Bioworks. the needs of industry, but I think TWIST BIOSCIENCE al networker who is content with
There was a buzz and energy in deserves a lot of credit for pioneer- being behind the scenes.
the room, recalled Emily Leproust, ing the idea that there is a commer- “John really had the insight that that “I’m very happy to let the peo-
CEO and co-founder of South San cial frame of reference and move- conference, that melting pot of ple who are actually doing the work
Francisco-based Twist Bioscience. ment around synthetic biology,” shine, and that’s kind of what I do
While there were scientific confer- Endy said. businesses and investors and in my newsletter and in the confer-
ences at the time for people inter- Endy sees the biotech current- entrepreneurs, was missing.” ence,” Cumbers said. “I don’t need
ested in synthetic biology, there ly on the market as “the snowflake to be the one out front.”
were no business conferences for on the tip of the iceberg,” he said, EMILY LEPROUST, CEO and co-founder, Twist Bioscience
the field until Cumbers launched and SynBioBeta plays a central role Alisha Green is a Santa Cruz-
SynBioBeta. in encouraging the exploration of based freelance writer.
MAY 22, 2020 23
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“OUM did a great job of working

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HERB CROSS
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CHIEF FINANCIAL OFFICER

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BAY AREA BIOTECH
RESEARCH & DEVELOPMENT
ON A TRIAL BASIS
Co
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BODY BLOOD BRAIN LUNGS LIVER

ht
Snapshot of Bay Area’s

©
hottest clinical targets

20
shows diverse range

20
87 76 45 45 30
BY RON LEUTY
Am
[email protected]
Total trials Total trials Total trials Total trials Total trials
er
From small companies to big aca-

ica
demic institutions, the Bay Area is

a hotbed of clinical trials. 35 26 18 23 11
n
10
In the short period of time 22 15
Ci
between the start of 2019 through

25
mid-April of this year, Bay Area- 7
ty
16
based scientists posted the start of 13
Bu
436 clinical trials that ultimate- 15

10
ly can spell triumph or doom for a 6
10
sin
drug, device or diagnostic and the 4 5

4 2
patients they touch. 2
2 2
es
The drug-approval process — 0 0

usually three stages coming out of
sJ
Phase I
Phase I/II
Phase II
Phase II/III
Phase III
Phase I
Phase I/II
Phase II
Phase II/III
Phase III
Phase I
Phase I/II
Phase II
Phase II/III
Phase III
Phase I
Phase I/II
Phase II
Phase II/III
Phase III
Phase I
Phase I/II
Phase II
Phase II/III
Phase III
preclinical experiments — can take
years and millions of dollars. It starts
ou
with safety studies, goes through

rn
Phase II where dosing is sorted out

als
and Phase III to nail down efficacy. 54 50 24 23 18

Those trials are never that simple,
19
and neither was putting together our
-N
list of studies. We began with a list 16

of 9,210 trials globally filed on Clin-
ot
26
icaltrials.gov since the start of 2019, 22 8
for
including studies not yet recruiting

patients, ones that are up and run-
3 2 2
ning, those enrolling by invitation 4 2 2
co
2 1 2 2 1
0 0 0 0
and ones active, but not recruiting.
mm
Not yet recruiting
Recruiting
Enrolling by invitation
Active, not recruiting
Completed
Not yet recruiting
Recruiting
Completed
Not yet recruiting
Recruiting
Completed
Not yet recruiting
Recruiting
Completed
Not yet recruiting
Recruiting
Completed
From there — because there

doesn’t seem to be a method for
creating a spreadsheet of clinical
er
trial sponsors separated by geogra-

cia
phy (and, at this point, don’t tell me

there is a way) — we surveyed the list
lu
to find local companies and insti-

se
tutions listed as either trial spon-

sors or collaborators. Keep in mind,
we weren’t looking for clinical tri-
al sites but only the Bay Area spon-
sors and collaborators.
When we found a clinical trial
program initiated by a local group,
we added it to our spreadsheet. Data 38 55 20 21 10
included: study phase and enroll- OTHER CANCER OTHER CANCER NASH
ment status; study title; conditions 36 8 7 11 7
or disease targeted; product used; CANCER OTHER ALZHEIMER’S OTHER CANCER
sponsors and collaborators; and SOURCE: Studies by 5 5 7 7 7
how many patients were involved. Bay Area companies
and research HIV ANEMIA CANCER COVID OTHER
We then attached a general dis- centers first posted
on Clinicaltrials. 5 4 6 4 5
ease target and the body part target- gov between Jan. 1, MS HEMOPHILIA DEPRESSION IPF HEPATITIS
ed and sorted those into the data to 2019-April 13, 2020
the right as a body map of clinical 3 4 5 2 1
GETTY IMAGES | ALLERGY SICKLE CELL AUTISM ASTHMA AUTISM
trials led by Bay Area scientists. SFBT ILLUSTRATION
MAY 22, 2020
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©
20
20
Am
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ty
6
Not yet recruiting Phase I
Bu
17
Recruiting Phase I/II
sin
2
2
4
0
12
16
Enrolling by invitation Phase II
SKIN
OTHER
24
CANCER
es
1
0
Active, not recruiting Phase II/III
PSORIASIS
Total trials
DERMATITIS
3
0
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Completed Phase III
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5
3
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BAY AREA BIOTECH
13
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1
1
4
16
-N
17
CANCER
1
BREAST
0
Total trials
LACTATION
ot
5
0
Completed Phase III
for
1
5

co
2
12
mm
1
7
15
15
CANCER
er
1
0
total trials
PROSTATE
cia
1
0
Completed Phase III
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2
4

se
1
7
1
1
1
2
3
6

EYE
OTHER
14
DRY EYE
1
DIABETES
MACULAR
total trials
GLAUCOMA
DEGENERATION
2
0
Completed Phase III
3
4

5
1
1
2
5
4
0
0
LUPUS
OTHER
13
CANCER
KIDNEY
2
0
DIABETES
total trials
TRANSPLANT
4
0
Completed Phase III
25
BAY AREA BIOTECH
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GENE THERAPY
One-shot-and-done
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ADVANCED
drugs spark interest
mm
from patients, investors

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THERAPIES
BY RON LEUTY
[email protected]
lu
se
For Patrick James Lynch and other

hemophilia patients, Aug. 21 could
POSE NEW
mark a new independence day.
But like any revolution — this one
centering on BioMarin Pharmaceu-
tical Inc.’s prospective Food and
Drug Administration approval date
QUESTIONS
for a multimillion-dollar hemophil-
ia A gene therapy — freedom car-
ries lots of concerns for patients,
their advocates and gene therapy
companies.
Will gene therapy allow patients
to go years — if not lifetimes — with-
out further treatment? Will patients
Everyone is watching BioMarin’s FDA filing for a hemophilia A gene therapy with interest,
says Natalie Holles, CEO of Audentes Therapeutics. “It’s a big, evolutionary step.”
CONTINUED ON PAGE 28 TODD JOHNSON | SFBT
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MAY 22, 2020
BAY AREA BIOTECH
CONTINUED FROM PAGE 26 “Things ma’s $3 billion buyout in January

of San Francisco’s Audentes Ther-
are apeutics Inc. Meanwhile, Redwood
shun reliable therapies for a chance looking City-based Adverum Biotechnolo-
at a breakthrough cure? Will treat- gies Inc. raised $150 million in Feb-
ments set off different diseases? pretty ruary with a stock offering back-
And how will society, gene thera- good.” ing its gene therapy targeting a
py companies and insurers value blinding eye disease, and Nova-
drugs that could allow people to live DR. HANK to-based Ultragenyx Pharmaceu-
Co
decades longer than their genetics FUCHS, tical Inc., whose portfolio of rare
had dictated? President of disease drugs includes gene thera-
py
“I’m curious to see who makes worldwide R&D pies, continues to be a well-regard-
for BioMarin on
rig
the decision and when,” said Lynch, the company’s

ed stock.
a 34-year-old independent film- new therapy Yet not all the news is positive.
ht
maker and content producer in Los Roctavian Orchard Therapeutics plc, for exam-
Angeles, about patients opting for ple, opted this month to shut down
©
gene therapy. “I’ve heard people construction of its gene therapy

20
speculate on this. It’s all over the manufacturing plant in Fremont,

map.” consolidate its research-and-devel-
20
But Aug. 21 and beyond are also opment work in Menlo Park with its
potential landmarks for San Rafa- London office and cut 25% of jobs
Am
el-based BioMarin and other gene across the company.

therapy developers. Hemophilia A Still, said Natalie Holles, who
er
is a large-scale proving ground as took over as president and CEO of

ica
new technologies emerge that could Audentes as the Astellas deal closed,
allow companies to target diseas- “the momentum continues to be
n
es with larger patient populations very positive.”

Ci
than the ultra-rare conditions gene “Everybody’s watching BioMar-

therapy typically has focused on. in’s hemophilia filing with interest.
ty
One thing is sure: Investors and It’s the first time a gene therapy is
Bu
Big Pharma companies appear

interested again in gene therapy,
sin
culminating with Astellas Phar- TODD JOHNSON | SFBT CONTINUED ON PAGE 30

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MAY 22, 2020
BAY AREA BIOTECH
CONTINUED FROM PAGE 28 CRACKING THE DNA CODE

A look at what Bay Area companies with gene therapy programs are doing.
evolutionary step.” Audentes Adverum BioMarin BridgeBio

Therapeutics Biotechnologies Pharmaceutical Pharma
That is particularly true for
hemophilia A patients, many of
whom are skeptical after contam-
inated blood in the late 1970s and
early 1980s infected them with
Co
HIV. Bayer’s Factor VIII drugs —

produced in Berkeley to supply a
py
critical blood-clotting protein for

rig
patients — have provided stability

but require three or four (or more)
ht
CEO: CEO: CEO: CEO:

injections a week.
Natalie Holles Leone Patterson Jean-Jacques Bienaimé Neil Kumar
About 20% to 30% of people with
©
severe hemophilia A develop inhib- Headquarters: Headquarters: Headquarters: Headquarters:

20
itors, Lynch said, and Genentech San Francisco Redwood City San Rafael Palo Alto
Inc.’s once-a-week Hemlibra has
20
What it’s doing: What it’s doing: What it’s doing: What it’s doing:
helped some of those patients.
One of the oldest gene The company has returned Ahead of a possible Aug. 21 BridgeBio’s aim of building
For many of the 20,000 hemo-
Am
therapy-specific com- to its roots in wet age-relat- approval of its gene therapy focused companies around
philia A patients in the United panies, eight-year-old ed macular degeneration for hemophilia A patients, genetic targets extends
States — and estimated 400,000 Audentes was bought by after a failed mid-stage trial BioMarin this month said to gene therapy. All three
er
worldwide — BioMarin’s gene ther- Japan’s Astellas Pharma in in 2015, a reverse merger, it would work with Swiss of its companies — Aspa,
January for $3 billion. The a focus on a rare brain startup DiNAQOR on gene Audition and Adrenas — are
ica
apy Roctavian could be a long-

deal serves both com- disease and emphysema therapies to treat rare based in North Caroli-
term answer, Lynch said. But that panies, giving Audentes and two CEO changeouts. genetic heart diseases. The na, but BridgeBio’s gene
n
depends on their comfort taking a a deeper pocketbook to The earlier failure in wet company, a pioneer over therapy program head, Eric
Ci
new kind of therapy and how well expand manufacturing, for AMD was more about how the past 20 years in enzyme David, is in Palo Alto. Aspa
managed they are with current example, to North Carolina, doctors delivered its gene replacement therapies to focuses on Canavan dis-
ty
while providing Astellas a therapy, but just this month treat rare diseases, invested ease, which affects nerve
therapies, he added.
deep portfolio of poten- Adverum updated a promis- in a gene therapy manufac- cells in the brain and often
Bu
The decision to switch to Rocta- tial gene therapies and ing Phase I trial delivering turing plant in Novato, and kills patients before they’re
vian — if at all — will be an individu- expertise. Audentes is also Regeneron Pharmaceuti- is working preclinically on 20; Audition is working on
sin
al one with input from doctors and pursuing new approaches cals’ Eylea in the blinding gene therapies for PKU, or nonsyndromic hearing loss
other caregivers, said Lynch, who to gene therapy manufac- eye disease. Success would phenylketonuria, a metabol- caused by a gene mutation;
es
turing, potentially allowing mean one shot into the ret- ic disease that can lead to and Adrenas has a gene
worked on a BioMarin-support-
it to target diseases with ina for patients that today mental disabilities, seizures therapy for congenital
ed art and music theater program
sJ
genes that are too large for receive several shots a year. and behavioral problems, adrenal hyperplasia, which
called “Hemophilia: The Musical” the adeno-associated vi- Adverum hopes to expand and hereditary angioede- affects the ability of the
ruses used today to deliver on its success in the eye to ma, which includes recur- adrenal glands to function
ou
in New York in 2018 and a result-

ing series of regional workshops for drugs. start a clinical trial later this ring and severe swelling on properly.
year with diabetic retinopa- the face, limbs, intestinal
rn
teenagers.
thy patients. tract and airway.
als
“There’s a tremendous amount

of excitement,” said Lynch, who
Encoded Orchard Sangamo Ultragenyx
remembered reading more than 20
-N
Therapeutics Therapeutics Therapeutics Pharmaceutical

years ago that gene therapy would
cure hemophilia by 2000. “The
ot
long-awaited white horse has been

for
gene therapy.”
Gene therapy, however, remains
co
suspect by some, even with

approved therapies already on the
mm
market.
Questions often center on the
er
right dose to avoid setting off CEO: CEO: CEO: CEO:

an immune system reaction, yet Kartik Ramamoorthi Bobby Gaspar Sandy Macrae Emil Kakkis
cia
enough to provide years (or a life-

time) of protection. There also are Headquarters: Sites: Headquarters: Headquarters:
lu
questions around whether gene South San Francisco Fremont and Menlo Park Brisbane Novato
se
therapies could be safely redosed, What it’s doing: What it’s doing: What it’s doing: What it’s doing:
if needed, said Eric David, the Palo Targeting a rare form of The London-based compa- The company has three In a short time, the com-
Alto-based CEO of three rare dis- epilepsy known as Dravet ny had big plans to expand public gene therapy proj- pany has taken two gene
ease gene therapy companies that syndrome, Encoded started in the Bay Area as it grew ects, including a late-stage therapies targeting ultra-ra-
are part of BridgeBio Pharma Inc. five years ago trying to find out its portfolio of gene program with Pfizer Inc. in re diseases into clinical
new ways to stuff in genes therapies. But earlier this hemophilia A and a Phase I/ trials, thanks largely to its
“We haven’t done redosing, but too big for traditional gene month it pulled out of con- II therapy for Fabry disease, $151 million acquisition of
we know patients have antibodies,” therapy delivery vehicles. struction of its manufac- which leads to a certain Dimension Therapeutics in
David said. “Could we redose if the Its bet is on “effector turing facility in Fremont, type of fat building up in 2017. One of the therapies it
antibody levels are below a certain genes” that not only can saying it now will seek to the body’s cells that can picked up, called DTX-401,
level?” control the expression of sublease the space, move bring life-threatening com- failed a clinical trial last
a gene but can do so in its R&D work in Menlo Park plications. It has a preclin- year, but DTX-301 targeting
Those are among the questions specific cells. The compa- to the United Kingdom and ical gene therapy against ornithine transcarbamylase
that may be raised by the FDA as ny has raised $158 million cut 25% of its workforce PKU, or phenylketonuria, a deficiency reported out
BioMarin’s therapy nears its deci- from the likes of Venrock, worldwide. metabolic disease that un- positive results this month
sion date, and they are questions ARCH Ventures, Illumina treated can lead to mental from a Phase I/II study.
that companies, investors and Ventures and others. disabilities, seizures and
behavioral problems.
insurers are asking too.
BioMarin dosed its first patient
with Roctavian only five years ago,
MAY 22, 2020 31
BAY AREA BIOTECH
with Roctavian only five years ago, “We “But there’s a savings to health sys-
but the therapy appears safe and tems and they understand that.”
durable for patients. The compa- haven’t Gene therapy companies and
ny in mid-2019 released data on decided on insurers are talking about differ-
patients treated at least three years ent ways to pay for treatments. As
before with the same dose it is ask- the price. patients switch jobs — and insurers
ing the FDA to approve, said Dr. But there’s — the question becomes, who pays
Hank Fuchs, president of world- for the one-time infusion of gene
wide research and development for a savings therapy that saves future insurers
Co
BioMarin. to health from paying for chronic treatment?

“Things are looking pretty good,” One potential solution is “out-
py
Fuchs said. systems comes-based” deals between com-

rig
Pricing, however, is the headline and they panies and insurers, said Jeff Ajer,
issue. chief commercial officer at BioMar-
under-
ht
After Spark Therapeutics Inc. in. With those agreements, a gene

won FDA approval in December stand therapy manufacturer could be paid
©
2017 for its drug Luxturna to fix a annually for each year the treat-
that.”
20
rare form of blindness, it priced the ment works.

drug at $425,000 an eye, and Novar- For Lynch, however, pricing is
20
JEAN-JACQUES
tis AG’s AveXis unit priced its spinal BIENAIMÉ,
less of an issue than durability.
muscular atrophy drug Zolgensma Chronic pain caused by hemo-
Am
Chairman and
at $2.1 million after its approval last CEO, BioMarin philia A, missed work or school
spring. days, the stress of infusing one’s self,
er
BioMarin has hinted at a $2 mil- depression and the fear of inhibitors

ica
lion to $3 million price tag for Roc- emerging — requiring more-inten-

tavian. That compares to today’s sive treatment to reset the immune
n
blood-clotting drugs which can cost system — make gene therapy an

Ci
into the hundreds of thousands of intriguing potential option.

dollars or as high as $1 million a “If one infusion could do it, that
ty
year. would be great,” Lynch said. “If it

Bu
“We haven’t decided on the was once every five years, I don’t
price,” BioMarin Chairman and know who wouldn’t be signing up
sin
CEO Jean-Jacques Bienaimé said. TODD JOHNSON | SFBT for that.”

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OPERATIONS The Buck Institute is among the

Biotechs, organizations Bay Area biomedical organizations
‘IT’S A
co
and companies now trying to adapt

apply their expertise rapidly amid the coronavirus pan-
mm
while keeping staff safe demic, finding ways of applying

their teams’ expertise to the coro-
er
navirus response while keeping
COMPLETE
BY ALISHA GREEN staff safe.
cia
[email protected] At the Buck, one pleasant sur-

prise amid it all has been just how
lu
The Novato-based Buck Institute is adaptable the more than 200-per-

se
no stranger to dealing with crises. son team has proven to be.
CALL TO
The independent research institute The Buck has mandated that only
team, which focuses on studying 25% of the staff for any of its labora-
aging, has had to think through the tories be present at any given time.
consequences of earthquakes, fires, When they are not in the lab, peo-
and power outages in recent years ple whose jobs are normally at the
ARMS’
and how to adapt their operations workbench are now finding ways
in each case. In that sense, at least, to apply their talents from home,
they were somewhat prepared for including reviewing literature and
the Covid-19 pandemic. thinking about how their knowl-
But even though infectious dis- edge of aging could be applied to
ease experts said something like combatting the coronavirus, which
this pandemic would come at some poses an increased risk for people
point, the suddenness of the new age 60 and older.
coronavirus has been “a big sur- “It’s a complete call to arms,”
prise,” said Dr. Gordon Lithgow, The Buck Institute team spends less time in the lab, says Dr. Gordon Lithgow said. “You just think, is
professor and vice president of aca- Lithgow, VP of academic affairs. But science still moves forward. there anything that we can do to
demic affairs at the Buck Institute. JIM HUGHES PHOTOGRAPHY help the situation?” And the team
MAY 22, 2020 33
BAY AREA BIOTECH
isn’t deterred by spending less time than 50 people rotating through the
in the lab: “Science is moving for- building on any given day during
ward, even if it’s not experiments,” the work week.
Lithgow added. While some of the Gladstone
For GigaGen CEO and co-found- research areas have been ramped
er David Johnson, the shelter-in- down, they’ve ramped up work on
place orders initially posed a major responding to the new coronavirus
hurdle. South San Francisco-based since January, said Dr. Deepak Sri-
GigaGen, which focuses on mak- vastava, president of the Gladstone
Co
ing antibody therapies, had start- Institutes. They are making prog-
ed working on a drug to treat the ress on the diagnosis, treatment and
py
new coronavirus in February, John- prevention, he said.

rig
son said. They’ve built a new space over

But in March, GigaGen’s landlord the past few weeks for growing and
ht
told the 36-person company they experimenting with the live corona-
would have access only for “mini- virus in human cells in a dish and
©
mum basic operations” starting the in animals. It builds on prior expe-

20
following day when the local shel- rience pivoting quickly to address
ter-in-place order took effect. health emergencies, including their
20
“We shut down a lot of experi- focus on battling HIV in the early
ments, frankly a lot of experiments local authorities who verified that, “It’s part of our cy plans early on as the pandemic 1990s.
Am
which had to do with coronavirus,” but Johnson said doing so took culture,” says spread around the world. “It’s part of our culture; it’s
Johnson said. “It probably cost hun- enlisting the help of biotech trade Dr. Deepak They reduced their operations part of what makes this model so
er
dreds of thousands of dollars which group Biocom. One of his takeaways Srivastava, before shelter-in-place orders were unique is that we’re able to do that
ica
could have been avoided if we had from the predicament has been that president of issued and now restrict site access effectively,” Srivastava said. Teams
been given some sort of warning. having a direct line to local authori- the Gladstone to only people who are work- from across Gladstone have come
n
Even 48 hours would have made a ties going forward would save “a lot Institutes. ing on critical research, such as together “quite organically,” he
Ci
big difference.” of time and headache,” he said. the Covid-19 response, managing added, “simply because everybody
GLADSTONE
Their landlord’s guidance was At the San Francisco-based Glad- mouse colonies and cell lines, and is motivated to make an impact for
ty
INSTITUTES
incorrect, too, since GigaGen falls stone Institutes, an independent maintaining the operations and humanity.”
Bu
into the category of essential busi- research institution affiliated with security of the building. They’ve
nesses allowed to remain operating. the University of California, San gone from about 450 people being Alisha Green is a Santa Cruz-
sin
The company eventually reached Francisco, they made contingen- at Gladstone on a daily basis to less based freelance writer.
es
sJ
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Where
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unlocking doors
als
leads to
-N
unlocking ways to fight the most

ot
challenging global health issues.

for
co
Your mission? Breakthrough discovery.

mm
Our mission? Connecting you with the advocacy,

er
savings, capital, and community you need to

cia
advance human health.

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Biocom connects over 1,300 life science member companies

se
in the world’s largest life science ecosystem. For over

25 years, our experienced team has been accelerating
life science in California and beyond, ensuring our members
have the support they need to meet their mission.
We move our members forward, moving the

industry forward, which moves humanity forward.
Connect with Biocom today.

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ENTREPRENEURSHIP
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UNCERTAINTY
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tinue to soar well into biotech’s “Maybe that would be an amazingly pro- MBC BIOLABS SITES
MBC BioLabs’ third
se
nine-year expansion — and MBC ductive company,” said Crawford,

BioLabs opening its third site this we’re like MBC’s general manager, manag-
80
location is its second

101
month, a 30,000-square-foot San divorce ing director of Mission Bay Capital

in San Carlos Carlos incubator — Crawford has and the former associate director of
another theory: “Maybe we’re like attorneys. QB3, which operated the UCSF site
SAN
FRANCISCO
divorce attorneys. We’re just always We’re just and is involved in other incubators
35
BY RON LEUTY needed.” at UC Berkeley, West Berkeley, Palo
[email protected] But instead of deconstructing always Alto and Santa Cruz.
1
marriages, MBC BioLabs is marry- needed.” MBC’s new site at 930 Brittan
Shortly after helping to launch a ing young life sciences companies Ave. in San Carlos can accommo- 82
2,500-square-foot biotech incuba- with happy lab homes. In all, since DOUGLAS date up to 50 companies, some just
tor on UCSF’s sprouting Mission MBC spun out of the University of CRAWFORD, wanting a single lab bench, others 280 101
Bay campus 14 years ago, and see- California’s QB3 biotech entrepre- General manager, wanting a place to settle down in
MBC BioLabs 1
ing demand skyrocket during the neurship program, 170 tenants have the real estate-constrained Bay Area
Great Recession, Douglas Crawford raised $4.5 billion and put 53 drug, biotech market. It’s a three-minute
thought incubators could be tools diagnostic and device programs into walk from the 24,000-square-foot, 35
for countercyclical companies. clinical trials. 30-company site MBC opened in

Now after seeing demand con- “If we were a single company, 2008.
MAY 22, 2020 35
The pandemic is accelerating

some of the tenants’ work,
says Douglas Crawford of MBC
BioLabs. “The industry is just as
robust and resilient.”
TODD JOHNSON | SFBT
Providing integrated pest management programs to

regulated pharmaceutical, biotech and medical facilities
throughout the Greater Bay Area
Founded by a chemical engineer and two pharmacists
Celebrating 90 years
of effective, state-of-the-art service
Co
(415) 922-1666 • (510) 536-1222 • (800) 592-7777

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(650) 345-5555 • (408) 295-3333

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©
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The first 24,000-square-foot

building for MBC opened in 2013 in
20
San Francisco’s Dogpatch neighbor-

hood, four blocks from the UC San
Am
Francisco campus.
Fourteen companies have com-
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mitted to moving to the new San The Details Get the leads & start
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Carlos space at market rates of

around $60 per square foot. Four of
DISCOVER the top people
& companies in a variety efficiently growing your
n
those companies are using the space of industries

business.
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for expansion. UNLOCK immediate access

to 24 MONTHS worth of data
“We’re getting more inquiries Connect with us.
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& information
and interest in the space than we bookoflists.com
UNLIMITED downloads in a
Bu
ever have before,” Crawford said. sortable format

“Some are accelerating their work
ADDITIONAL contacts not
sin
in Covid, but the industry is just as available in print

robust and resilient, and it’s entre-
es
preneurs that don’t take pandemics

as a reason to stop.”
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Indeed, Covid-19 is accelerating

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some of the tenants’ work. CASPR

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molecular diagnostics work to focus

workers, NEKTAR Therapeutics
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on quick detection of the coronavi-

rus that causes the disease, hoping
to line up an emergency use autho- thanks you.
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Administration early in the second
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half of this year.

for
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of occupying two benches, then six
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Franco Goytia. “That is obviously

very useful.”
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With Nitrome Biosciences, which

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953 Indiana St. “golden ticket” program with bio-

OAKLAND tech giant AbbVie Inc. That helped
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opened 2013
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61
580
RR24K sq. ft.
eases, such as Parkinson’s disease.
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25 companies “Everybody knew she was
880 185
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733 Industrial Rd. enzymes, Crawford said. “But she
238
RR24K sq. ft. said there’s got to be an enzyme.”
RRSpace for Those examples, Crawford said,
30 companies demonstrate that young biotechs
simply need the space to grow.
930 Brittan Ave.
92 “What we offer is a lower ener-
RROpened this gy barrier to lift up ideas,” he said.
month
SAN 84 “It gives lots of people who maybe
CARLOS RR30K sq. ft. aren’t traditional biotech executives
RRSpace for up to
50 companies
a chance to raise an amount of cap- NEKTAR.COM
MAPS4NEWS | SFBT ital to get to a meaningful point.”
Compiled by Ahalya Srikant

415-288-4962, @AhalyaSrikant
[email protected]
BIOPHARMA COMPANIES IN THE GREATER BAY AREA (1-25)

RANKED BY NUMBER OF GREATER BAY AREA EMPLOYEES
Fiscal year 2019 Phase 1/ Phase Phase

Business name/Prior rank Address Bay Area companywide Sample of research IND filed 2 3 CLOSER LOOK
Co
R
Website Phone employees revenue fields drugs drugs drugs Top local executive(s)
$224B
Oncology, immunology,
1 DNA Way
py
ophthalmology,
1 Genentech 1 South San 10,500 $26.8 neuroscience, 28 18 15 Alexander Hardy, CEO
gene.com Francisco, CA 94080 billion metabolism, infectious
650-225-1000
rig
disease
Total combined revenue for
333 Lakeside Dr. HIV/AIDS, liver diseases,
2 Gilead Sciences 2
4,0001
$22.45 the 50 companies on the
ht
Foster City, CA 94404 hematology/oncology, 15 19 8 Daniel O'Day, Chairman/CEO

gilead.com 650-574-3000 billion List, of those who reported
inflammation
revenue
BioMarin
©
Phenylketonuria (PKU),
105 Digital Dr.
3 Pharmaceutical Inc. Novato, CA 94949 1,950 $1.7 achondroplasia, 2 1 2 Jean-Jacques Bienaimé,
3 billion hemophilia A, hereditary Chairman/CEO
415-257-5974
20
angioedema
biomarin.com LARGEST REVENUE
800 Dwight Way Cardiovascular disease,
4 Bayer 4 $48.76
20
Berkeley, CA 94710 1,163 oncology, hematology, 27 14 9 Jens Vogel, SVP/Biotech

bayer.us 510-705-5000 billion gynecology Pfizer No. 13
Flavius Martin, VP, oncology Bayer No. 4
Am
and inflammation R&D/Site

head Genentech No. 1
1120 Veterans Blvd. Oncology, Saptarsi Haldar, VP, research
5 Amgen 6 South San 650 $23.4 cardiometabolic 22 5 20 and head of cardiometabolic
amgen.com Francisco, CA 94080 billion Bristol-Myers
er
disorders, inflammation discovery No. 17

650-244-2000 Robert Loberg, ED, Head of Squibb
clinical biomarkers and
ica
diagnostics AstraZeneca No. 11

Boehringer 6701 Kaiser Dr.
$20.51 Cardiometabolic, CNS, Wolfgang Baiker, President/
6 Ingelheim 5 Fremont, CA 94555 5201 respiratory, oncology, 28 12 5 Amgen No. 5
n
510-608-6500 billion CEO

boehringer-ingelheim.com immunology
Gilead Sciences No. 2
Ci
1851 Harbor Bay Pkwy.

7 Exelixis Inc. 12 Alameda, CA 94502 470 $967.8 Oncology 1 0 3 Michael Morrissey, President/
exelixis.com million CEO Boehringer
No. 6
ty
650-837-7000
Ingelheim
Nektar 455 Mission Bay Blvd. S. $114.62 Immuno-oncology,
8
Bu
Therapeutics 8 San Francisco, CA 94158 428 4 1 1 Howard Robin, President/CEO Jazz

415-482-5300 million immunology, pain No. 12
nektar.com Pharmaceuticals
Ultragenyx
sin
60 Leveroni Ct. BioMarin

$104
9 Pharmaceutical 7 Novato, CA 94949 410 million Rare genetic disease 1 2 0 Emil Kakkis, President/CEO No. 3
ultragenyx.com 415-483-8800 Pharmaceuticals
es
BeiGene 2929 Campus Dr. #300 $428.21 Exelixis No. 7

10 beigene.com
17 San Mateo, CA 94403 409 million Oncology 4 5 4 John Oyler, Chairman/CEO
877-828-5568
sJ
121 Oyster Point Blvd. ABOUT THE LIST

Oncology, cardiovascular,
11 AstraZeneca 9 South San
4001
$24.4 renal and metabolism, 37 46 22 Pascal Soriot , Executive This List includes
Francisco, CA 94080 billion director/CEO
ou
astrazeneca-us.com respiratory biopharmaceutical

650-379-3278
companies located in the
Jazz Greater Bay Area, which is
rn
3170 Porter Dr.

12 Pharmaceuticals Palo Alto, CA 94304 3891
$2.16 Sleep, hematology/ 3 4 4 Bruce Cozadd, Chairman/CEO defined as Alameda, Contra
plc 10 650-496-3777 billion oncology
Costa, Marin, Napa, San
als
jazzpharma.com
Francisco, San Mateo, Santa
230 E. Grand Ave.
Pfizer South San $51.75 Oncology, cancer Robert Rickert, SVP/CSO, Clara, Solano and Sonoma
13 pfizer.com
18
Francisco, CA 94080 3001 billion immunology 27 37 21 cancer immunology discovery counties.
-N
650-615-7300
Intarcia 24650 Industrial Blvd. Kurt Graves, President/CEO Information was
14 Therapeutics Inc. 3001
Type 2 diabetes, obesity,
ot
Hayward, CA 94545 NR
HIV
NR NR NR James Ahlers, VP, finance and obtained from company
11 510-782-7800 operations/CFO
intarcia.com
representatives, SEC filings
and websites. The number
for
Sangamo CNS diseases, oncology,

501 Canal Blvd. of clinical trials consists
$102.43 immunology, hematology,
15 Therapeutics 16 Richmond, CA 94804 290 million inherited metabolic 42 NR 1 Sandy Macrae, President/CEO
of new molecular entities
sangamo.com 510-970-6000 disorders and does not include a
co
Anemia, chronic kidney company’s approved drugs

409 Illinois St.
16 FibroGen 15 San Francisco, CA 94158 2791
$256.58 disease, fibrotic disease 0 3 5 Enrique Conterno, CEO
fibrogen.com million and oncology, corneal under development for
mm
415-978-1200 blindness additional indications.

Bristol-Myers 1500 Owens St. #600
$26.15 Oncology, cardiovascular, Kristen Hege, SVP, hematology/
17 Squibb 19 San Francisco, CA 94158 2591 billion immunoscience, fibrotic 42 48 55 oncology and cell therapy, early From last year, Dermira Inc.,
415-839-7000 disease clinical development Audentes Theraputics Inc.,
er
bms.com
Global Blood 171 Oyster Point Blvd. Relypsa Inc. and Nurix Inc.
cia
Therapeutics Inc. South San $2.11 were acquired.

18 24 Francisco, CA 94080 250 million Sickle cell disease 0 1 1 Ted Love, President/CEO
gbt.com 650-741-7700 WANT TO BE
lu
333 Allerton Ave. ON THE LIST?

19 MyoKardia Inc. 29 South San 240 $340 Cardiovascular diseases 1 2 1 Tassos Gianakakos, CEO If you wish to be surveyed
myokardia.com Francisco, CA 94080 million
se
650-741-0900 when The List is next

updated, or if you wish to
Aimmune 8000 Marina Blvd. #300
20 Therapeutics 21 Brisbane, CA 94005 2151 NR Food allergies 0 1 0 Jayson Dallas, CEO be considered for other
aimmune.com 650-614-5220 Lists, email your contact
information to Ahalya
421 Kipling St.
21 BridgeBio Inc. 47 Palo Alto, CA 94301 213 NR Dermatology, oncology, 3 0 4 Neil Kumar, CEO Srikant at asrikant@
bridgebio.com neurology bizjournals.com.
650-391-9740
Portola 270 E. Grand Ave.
22 Pharmaceuticals South San 207 $116.6 Thrombosis, hematology, 0 1 0 Scott Garland, President/CEO
Inc. 23 Francisco, CA 94080
650-246-7000
million oncology
portola.com
901 Gateway Blvd. Rick Winningham, Chairman/
Theravance South San Inflammation, CEO
23 Biopharma Inc. 13 Francisco, CA 94080 200 NR immunology, respiratory 2 2 1 Gail Cohen, VP,
theravance.com communications and investor
650-808-6000 relations
NGM 333 Oyster Point Blvd. Cardiometabolic diseases, David Woodhouse, CEO
24 Biopharmaceuticals South San 186 NR non-alcoholic 4 2 0 Aetna Wun Trombley,
Inc. 26 Francisco, CA 94080
650-243-5555
steatohepatitis, oncology,
ophthalmology President/COO
ngmbio.com
Sutro Biopharma 310 Utah Ave. #150 Immuno-oncology,
South San $11.31
25 Inc. 30 Francisco, CA 94080 180 million antibody drug conjugates, 3 0 0 William Newell, CEO
sutrobio.com bispecific antibodies
650-392-8412
1 Number is based on SFBT estimate. 2 Between Phase 1 and 2.
NOTES: NR - not reported. * - did not rank.

MAY 22, 2020 37
The East Bay’s Premier LIFE SCIENCES CAMPUS
Come see what 200,000 SF of Life Sciences companies already know

Co
and what the below Life Sciences companies just figured out.
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space
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Multiple commute options

er
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n
An Ecosystem that can

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accommodate as small as
ty
5,000 SF all the way to 500,000

Bu
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including paddleboard,
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for
co
Landlord that treats tenants

mm
like Partners
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lu
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se
©2020 Jones Lang LaSalle IP, Inc. All rights reserved. All information contained herein is from sources deemed reliable; however, no representation or warranty is made
to the accuracy thereof. Jones Lang LaSalle Brokerage, Inc. Real Estate License #: 01856260
Compiled by Ahalya Srikant

415-288-4962, @AhalyaSrikant
[email protected]
BIOPHARMA COMPANIES IN THE GREATER BAY AREA (26-50)

RANKED BY NUMBER OF GREATER BAY AREA EMPLOYEES
Fiscal year 2019 Phase 1/ Phase Phase

Business name/Prior rank Address Bay Area companywide Sample of research IND filed 2 3 CLOSER LOOK
Co
R
Website Phone employees revenue fields drugs drugs drugs Top local executive(s)
60
Revance Neuromodulators,
py
7555 Gateway Blvd. peptides, biotechnology,

26 Therapeutics Inc. Newark, CA 94560 175 $400,000 neurology, dermatology/ 2 1 1 Mark Foley, President/CEO
27 510-742-3400 medical aesthetics,
rig
revance.com dermal fillers

Total number of companies
280 E. Grand Ave.
Cytokinetics Inc. South San Cardiovascular, included in the online
27
ht
35 165 NR 2 2 1 Robert Blum, CEO version of this List

Francisco, CA 94080 neuromuscular
cytokinetics.com 650-624-3000
CytomX 151 Oyster Point To see this and other lists
©
Blvd. #400
28 Therapeutics Inc. South San 160
$57
Oncology 1 3 0 Sean McCarthy, President/CEO online (often including more
33 million listings and information
20
Francisco, CA 94080
cytomx.com 650-515-3185 not shown in print),
Arcus Biosciences 3928 Point Eden Way Cancer therapeutics visit bizjournals.com/
20
29 Inc. 39 Hayward, CA 94545 139 NR through the use of 8 4 0 Terry Rosen, CEO sanfrancisco/datacenter/
arcusbio.com [email protected] immunology lists
Adamas
Am
Dyskinesia in people with

1900 Powell St. #750
30 Pharmaceuticals Emeryville, CA 94608 136
$54.64 Parkinson's disease,
0 0 2 Gregory Went, Chairman/CEO
Inc. 31 510-450-3528 million multiple sclerosis,
epilepsy
JUST MISSED THE LIST
adamaspharma.com By Bay Area employees
er
Rigel 1180 Veterans Blvd.

31 Pharmaceuticals South San $59.3 Immunology, rare disease,
ica
120 2 0 1 Raul Rodriguez, President/CEO Blade Theraputics

Inc. 38 Francisco, CA 94080 million hematological disorders 25
rigel.com 650-624-1100 Inc.
n
Clovis Oncology 499 Illinois St. #230 $143 Oncology, ovarian cancer, Lindsey Rolfe, EVP of clinical Apollomics Inc. 21
32 clovisoncology.com
37 San Francisco, CA 94158 100
million
prostate cancer, solid 2 1 1 and preclinical development
Ci
415-409-5440 tumors and pharmacovigilance/CMO Frontier Medicines

20
Principia 220 E. Grand Ave. Oral small molecule Corp.
ty
South San therapies, specifically

33 Biopharma Inc. 46 Francisco, CA 94080
100 NR
autoimmune and
0 2 1 Martin Babler, CEO
principiabio.com 650-416-7700 oncology NEED A COPY
Bu
Unity 3280 Bayshore Osteoarthritis, diabetic OF THE LIST?

34 Biotechnology Inc. Blvd. #100
98
$89.7 retinopathy, idiopathic
0 2 0
Keith Leonard, Chairman/CEO For information on
40 Brisbane, CA 94005 million pulmonary fibrosis, Nathaniel David, President
sin
650-416-1192 systemic sclerosis obtaining commemorative

unitybiotechnology.com
plaques, reprints or web
740 Heinz Ave. #3C permissions, contact Lacey
35 Aduro Biotech 32 $17.26 Stephen Isaacs, Chairman/
es
Berkeley, CA 94710 96 Cancer immunotherapy 2 2 0

adurobiotech.com 510-848-4400 million President/CEO Patterson at 415-288-
4961, or at lpatterson@
343 Oyster Point Blvd.
sJ
Calithera #200 Small molecule drugs

bizjournals.com. No other
Susan Molineaux, President/
36 Biosciences Inc. 44 South San 93 NR directed against tumor 1 8 0
CEO
companies offering similar
calithera.com Francisco, CA 94080 and immune metabolism services are affiliated in
ou
650-870-1000 any way with the Business

Encoded 341 Oyster Point Blvd.
South San Genomics-driven
Times. More information
37 Therapeutics *
rn
Francisco, CA 94080 90 NR precision gene therapies 0 0 0 Kartik Ramamoorthi, CEO can be found online at
encoded.com 650-491-0272 SanFranciscoBusinessTimes.
als
Engineered IgM com by clicking the “Store”

IGM Biosciences 325 E. Middlefield Rd.
Mountain
antibodies for therapeutic
applications including
tab near the top of the site.
37 Inc. * View, CA 94043
90 NR
non-Hodgkin’s lymphoma,
1 0 0 Fred Schwarzer, CEO
igmbio.com
-N
650-965-7873 solid and hematologic

malignancies
34175 Ardenwood
Ardelyx Inc. Blvd. #200 $5.28 Cardio-renal, renal and ABOUT THE LIST
39 42
ot
88 NR NR NR Michael Raab, President/CEO

ardelyx.com Fremont, CA 94555 million gastrointestinal This List includes
510-745-1700 biopharmaceutical
Astex
for
4420 Rosewood Dr. #200 companies located in the

39 Pharmaceuticals Pleasanton, CA 94588 88
$5.28
Oncology, hematology 2 3 2
Mohammad Azab, President/ Greater Bay Area, which is
Inc. 41 925-560-0100 million CMO
defined as Alameda, Contra
astx.com
co

Five Prime 111 Oyster Point Blvd.
Immuno-oncology, Francisco, San Mateo, Santa
41 Therapeutics Inc. South San
mm
Francisco, CA 94080
87 NR fibrosis and CNS, 4 3 1 Aron Knickerbocker, CEO Clara, Solano and Sonoma
22 respiratory diseases
fiveprime.com 415-365-5600 counties.
ChemoCentryx 850 Maude Ave.

42 Mountain $36.13 Orphan diseases, chronic Thomas Schall, Chairman/ Information was
er
Inc. 45 View, CA 94043 82 million and rare kidney diseases 3 5 1 President/CEO

chemocentryx.com obtained from company
650-210-2900
representatives, SEC filings
cia
Dynavax and websites. The number

2929 7th St. #100
43 Technologies Berkeley, CA 94710 78
$35.22 Immunology, vaccines,
NR NR NR Eddie Gray, CEO of clinical trials consists
Corp. 28 million oncology
lu
510-848-5100 of new molecular entities

dynavax.com
131 Oyster Point
and does not include a
Maze Therapeutics
se
Blvd. #300 company’s approved drugs

Genetically defined
44 * South San 73 NR
diseases
0 0 0 Jason Coloma, CEO under development for
mazetx.com Francisco, CA 94080 additional indications.
[email protected]
10260 Bubb Rd.
45 Durect Corp. 48 Cupertino, CA 95014 68
$30 Pain, metabolic disease,
1 1 1 James Brown, President/CEO
durect.com 408-777-1417 million acute organ injury WANT TO BE
ON THE LIST?
6000 Shoreline Ct. #102
If you wish to be surveyed
46 Nkarta Inc.
nkartatx.com
* South San
Francisco, CA 94080 60 NR Oncology 0 0 0 Paul Hastings, CEO when The List is next
[email protected] updated, or if you wish to
331 Oyster Point Blvd. be considered for other
Prothena Corp. plc South San
47 49 Francisco, CA 94080 51 $814,000 Neuroscience 1 1 2 Gene Kinney, President/CEO Lists, email your contact
prothena.com 650-837-8550 information to Ahalya
Tenaya 171 Oyster Point Srikant at asrikant@
Blvd. #500 bizjournals.com.
48 Therapeutics Inc. South San 50 $0 Heart disease 0 0 0 Faraz Ali, CEO
*
tenayatherapeutics.com
Francisco, CA 94080
BlackThorn
780 Brannan St.
49 Therapeutics Inc. San Francisco, CA 94103 40 NR Neurobehavioral disorders 1 1 0 Bill Martin, President/CEO
*
blackthornrx.com
NR
320 Hatch Dr. Oncology, precision Laurie Heilmann, CEO

49 Notable 50 Foster City, CA 94404 40 NR medicine, AI drug 0 0 0 Matt De Silva, Executive
notablelabs.com NR discovery chairman
NOTES: NR - not reported. * - did not rank.

39
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MAY 22, 2020
Compiled by Julia Cooper

415-288-4958, @SFBIZJuliaC
[email protected]
VC-FUNDED BIOTECH COMPANIES R CLOSER LOOK

IN THE GREATER BAY AREA, RANKED BY TOTAL FUNDING RECEIVED IN 2019
Company
Website
Address
Phone/Email
2019 sum of equity
invested Sample of investors Business description
Bay Area
employees CEO
$2.47B
Co
Total VC funding to all Bay

Area biotech companies
421 Kipling St. Hercules Capital Inc.,
1 BridgeBio Inc. Palo Alto, CA 94301 $299.2 KKR & Co. Inc., Develops medicines for 213 Neil Kumar in 2019
py
bridgebio.com million genetic diseases

650-391-9740 Perceptive Advisors LLC
WENT PUBLIC IN 2019
rig
131 Oyster Point Blvd. #300 Third Rock Ventures

Maze Therapeutics South San $191 LLC, Foresite Capital Develops genetically OR 2020
2 mazetx.com Francisco, CA 94080 million Management LLC, GV modified therapies
73 Jason Coloma
[email protected] Management Co. LLC
ht
BridgeBio Inc. June

Horizons Ventures Ltd.,
Perfect Day Inc. 1485 Park Ave.
$174.75 Temasek Holdings Provides animal-free dairy (No. 1) 2019
3
©
Emeryville, CA 94608 97 Ryan Pandya

perfectdayfoods.com million (Private) Ltd., ADM proteins
[email protected] Capital 10x Genomics Inc. Sept.
(No. 25) 2019
20
Develops an early detection

1525 O'Brien Dr.
4 Grail Inc. Menlo Park, CA 94025 $125 Undisclosed firm blood test that can identify 380 Hans Bishop
grail.com million and locate more than 50 IGM Biosciences Sept.
833-694-2553
20
cancers Inc. (No. 7) 2019

6000 Shoreline Ct. #102 Samsara BioCapital LP,
Develops engineered natural Revolution
5 Nkarta Inc. South San $114 Deerfield Management killer cell therapies to fight 60 Paul Hastings Feb.
Am
nkartatx.com Francisco, CA 94080 million Company LP, Life Medicines Inc.

[email protected] Sciences Partners BV cancer 2020
(No. 8)
341 Oyster Point Blvd.
Tavistock Group Inc.,
6 Encoded Therapeutics South San $104 Genomics-driven precision ORIC
er
Menlo Ventures, 90 Kartik Ramamoorthi April

encoded.com Francisco, CA 94080 million medicine
650-491-0272 Altitude Funds LLC Pharmaceuticals
2020
ica
Inc. (No. 18)

Henderson Global
325 E. Middlefield Rd. Develops engineered IgM
7 IGM Biosciences Inc. Mountain View, CA 94043 $102 Investors Ltd., Vivo antibodies for therapeutic 90 Fred Schwarzer
igmbio.com million Capital LLC, Redmile
n
650-965-7873 Group LLC applications including cancer

ABOUT THE LIST
Ci
Revolution Medicines Nextech Invest Ltd., This List includes

700 Saginaw Dr.
$100.29 Schroder Adveq Focuses on frontier cancer
8 Inc. Redwood City, CA 94063 million Management AG, The targets and drug discovery NR Mark Goldsmith biotechnology companies
NR
ty
revolutionmedicines.com Column Group LLC located in the Greater Bay

OrbiMed Advisors LLC, Area, which is defined
989 E. Hillsdale Blvd. #220
Apollomics Inc.
Bu
$100 CMB International Develops combination as Alameda, Contra

9 apollomicsinc.com
Foster City, CA 94404
million Capital Management therapies to treat cancer
21 Guo-Liang Yu
650-209-4055 (Shenzhen) Co. Ltd.
Francisco, San Mateo,
sin
Bolt Biotherapeutics 640 Galveston Dr.

$94.1 Novo Holdings A/S, Nan
Develops cancer
Santa Clara, Solano and
10 Inc. Redwood City, CA 94063 million Fung Investments Ltd.,
immunotherapies
NR Randall Schatzman Sonoma counties. Data
boltbio.com 650-665-9295 Vivo Capital LLC includes total disclosed
es
venture capital investment

200 Cardinal Way 3rd Fl. (consolidated funding
11 GenapSys Inc. $90 Foresite Capital Hesaam
sJ
Redwood City, CA 94063 DNA sequencing technology NR

genapsys.com 800-796-7710 million Management LLC Esfandyarpour rounds) in 2019.
Hatteras Venture Data was obtained from

ou
275 Shoreline Dr. #450 Partners, OrbiMed

12 Graybug Vision Inc. Redwood City, CA 94065
$80
Advisors LLC, Deerfield
Develops products to treat
NR Frédéric Guerard Refinitiv, with additional
graybug.com million eye diseases information from SFBT
650-487-2800 Management Company
rn
LP research.
DSC Investment Inc.,
als
200 Constitution Dr.

13 Adicet Bio Menlo Park 94025
$80 Johnson & Johnson Develops immunotherapies
NR Anil Singhal NEED A COPY
adicetbio.com million Innovation-JJDC Inc., for cancer and other diseases
NR OF THE LIST?
OrbiMed Advisors LLC
Industry Ventures LLC, B Combines AI with an For information on
-N
320 Hatch Dr. Capital Group automated lab to determine obtaining commemorative
14 Notable Foster City, CA 94404 $79.76 Management LP, which drugs will be most 40 Laurie Heilmann plaques, reprints or web
notablelabs.com million
NR LifeForce Capital effective for specific types of permissions, contact Lacey
ot
Management LLC cancers

Patterson at 415-288-
Concentric Analgesics Oracle Capital Partners
101 California St. #1210
$77.1 LLC, Kern Whelan Develops therapeutics for 4961, or at lpatterson@
15
for
Inc. San Francisco, CA 94111 million Capital LLC, Cowen acute and chronic pain NR Frank Bellizzi bizjournals.com. No other
concentricanalgesics.com 415-484-7921 Capital Partners LLC companies offering similar
Arch Venture Partners services are affiliated in
BlackThorn 780 Brannan St.
co
$76 LLC, Altitude Funds LLC, Develops therapeutics for any way with the Business
16 Therapeutics Inc. San Francisco, CA 94103 million Mercury Partners neurobehavioral disorders 40 Bill Martin
blackthornrx.com NR Management LLC Times. More information
mm
can be found online at

1400 Seaport Blvd. Bldg. B SanFranciscoBusinessTimes.
17 HeartFlow Inc. Redwood City, CA 94063 $65 Undisclosed firm Cardiovascular diagnostics 180 Dana Mead Jr.
heartflow.com million technology com by clicking the “Store”
650-241-1221
er
ORIC Pharmaceuticals 240 E. Grand Ave. 2nd Fl. Casdin Capital LLC,
South San $55 Taiho Ventures LLC, WANT TO BE
18
cia
Inc. Francisco, CA 94080 million ArrowMark Partners GP Cancer therapy company NR Jacob Chacko
oricpharma.com ON THE LIST?
650-388-5600 LLC
Piper Jaffray European
lu
1505 O' Brien Dr. #A-1 Holdings Co., Telegraph when The List is next
19 Akoya Biosciences Inc. Menlo Park, CA 94025
$50
Hill Partners LP,
Develops tissue analysis and
NR Brian McKelligon updated, or if you wish to
akoyabio.com million imaging platform
855-896-8401 Innovatus Capital be considered for other
se
Partners LLC Lists, email your contact

F. Hoffmann-La Roche Develops novel antibody information to Julia Cooper
2000 Sierra Point Pkwy. #700
19 Arch Oncology Brisbane, CA 94005
$50 AG, RiverVest Venture therapeutics that drive
14 Julie Cherrington at juliacooper@bizjournals.
archoncology.com NR million Partners LLC, 3x5 immunity for the treatment
Partners LLC of cancer com.
171 Oyster Point Blvd. #400
NS Investment, Horizons
19 Surrozen Inc. South San $50
Ventures Ltd., The
Develops regenerative
NR Craig Parker WANT TO SEE OUR FULL
surrozen.com Francisco, CA 94080 million Column Group LLC medicines LISTS ONLINE?
650-475-2820
To see this and other lists
75 Shoreway Rd. #C online (often including more
22 Apexigen Inc. San Carlos, CA 94070 $45.78 Undisclosed firm Develops immuno- NR Xiaodong Yang listings and information
apexigen.com million therapeutics to treat cancer
650-931-6236
not shown in print),
442 Littlefield Ave. visit bizjournals.com/
Blade Therapeutics South San $38
Develops anti-fibrotic and sanfrancisco/datacenter/
23 Inc. Francisco, CA 94080 million
Undisclosed firm anti–SARS-CoV-2 small 25 Wendye Robbins
lists.
blademed.com 650-278-4291 molecule therapeutics
Develops therapeutics to
Sagimet Biosciences treat diseases such as the
155 Bovet Rd. #303 $36.63 New Enterprise liver disease NASH and
24 Inc. San Mateo, CA 94402
million
Associates Inc., Kleiner
specific cancers, with a focus
4 George Kemble
sagimet.com 650-561-8600 Perkins
on targeting dysfunctional
metabolic pathways
6230 Stoneridge Mall Rd. Meritech Capital

25 10x Genomics Inc. Pleasanton, CA 94588 $35 Partners, Wells Fargo Provides a genomics 450 Serge Saxonov
10xgenomics.com 925-401-7300 million Strategic Capital Inc. platform
SOURCE: Refinitiv
MAY 22, 2020 41
Paid content provided by ExThera Medical
A NEW BLOOD FILTER DESIGNED

TO FIGHT BLOODSTREAM INFECTIONS
EXHIBITS PROMISE FOR COVID-19
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A new tool by California-based

ExThera Medical has found suc-
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cess in treating Covid-19 patients.

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The device, called the Seraph 100,

earned approval from the from U.S.
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Food and Drug Administration (FDA)

under Emergency Use Authorization
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(EUA) making it one of the few med-

20
ical devices approved for treatment

of COVID-19 in the U.S.
20
The Seraph filters toxic patho-

gens, including viruses, from the
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blood and increases oxygen levels,

helping ease the symptoms that
er
COVID-19 patients experience.

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A recent statement published by

ExThera Medical explains that their
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device was used on 23 critically ill

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COVID-19 patients in intensive care

units, with 22 of those patients on
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ventilators with respiratory failure.

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Nearly three-quarters of the Seraph

patients who had been on ventila-
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tors survived, compared to less than

20 percent of COVID-19 patients
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treated without Seraph based on

published survival statistics.
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Dr. Mark Kortepeter, an infec-

tious disease physician and Profes-
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sor of Epidemiology at the Universi-

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ty of Nebraska Medical Center said,

“Given the high mortality rates we
als
have seen thus far with COVID-19

patients on ventilators, this report
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is promising.” An expert in contain-

ment of highly hazardous infectious
ot
pathogens, like Ebola, and author of

for
“Inside the Hot Zone,” Kortepeter

said, “It will be important to subject
the data to peer review and to com- for around 50 percent of hospital According to the U.S. Centers for ket for use in the European Union
co
“By removing
pare it with other reports.” deaths,” said Robert Ward, ExThera’s Disease Control and Prevention, 2.8 since earning its CE Mark in the
the virus,
mm
The survival rate for patients founder and chief executive. Drug million Americans are infected and summer of 2019.
treated with Seraph is higher than bacteria resistant superbugs are an increas- over 35,000 die every year from So far, patients treated with the
the outcomes reported for other ing problem. A recent study, pub- illnesses caused by drug-resistant device have had no Seraph-relat-
er
COVID-19 patients on mechanical

or other lished in April in JAMA Network superbugs. ed negative side effects, suggest-
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lung support. In the greater New pathogen Open, looked at data on more than “We wanted to develop a unique ing that it is a safe and effective
York City area, the weighted average without 17,000 sepsis patients in US hos- tool to treat these infections,” Ward treatment.
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survival rate is 12 percent, 24 per- pitals with bloodstream infections. said, describing the company’s work Ward and his team at ExThera are
encouraging
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cent for younger patients and only The research found that more than on. “Bloodborne pathogens contin- optimistic that Seraph will be effec-
three percent for older COVID-19 drug two-thirds of those had drug-resis- ue to evolve making it harder to tive against other emerging virus-
patients. tant organisms unaffected by the treat them effectively with antibiot- es. “By removing the virus, bacteria
Results for patients treated
resistance, antibiotics used. ics and anti-viral drugs alone. That or other pathogen without encour-
with Seraph are impressive, in part we’re doing “Given the ongoing challenges means we’ll see newer, more dead- aging drug resistance, we’re doing
because they come from 15 differ- something and minimal countermeasures in our ly illnesses emerge, like COVID-19”. something different and important,”
ent hospitals in six countries. with toolbox against multi-drug resistant “Based on what we’re seeing Ward insists.
FDA EUA approval in the U.S., the different and organisms and COVID-19,” Korte- with patient use, and in the labora- ExThera has been ramping up
device is being used in Connecticut, important” peter said, “keeping an open mind tory, the device is effective against production of Seraph to meet the
Illinois and Maryland, including at to assess new, innovative treatment a broad spectrum of bloodborne need of the COVID-19 pandem-
the Walter Reed Army Medical Cen- measures is important.” Kortepeter’s pathogens including SARS-CoV-2 ic with all production and develop-
ter. Other U.S. hospitals are being experience in treating highly conta- which causes COVID-19,” said Dr. ment taking place at their facilities
trained in Seraph use every week. gious viruses, like Ebola, lends per- Lakhmir Chawla with the Veter- in Martinez, California.
Seraph was originally devel- spective in the need to seek alter- ans Affairs Medical Center in San Learn more about ExThera Medi-
oped to fight sepsis and drug-re- native therapies has been underway Diego. “Treatment with this device cal updates, developments and clin-
sistant superbugs. “Sepsis is one for some time in preparation for a has immediate and sustained effects ical studies by visiting their web-
of the most costly and deadly dis- “post-antibiotic era” and Seraph is a on vital signs.” site or following them on LinkedIn
eases in the hospital accounting direct response to that. The device has been on the mar- or Twitter.
BAY AREA BIOTECH
MEET THE TOP-FUNDED

BIOTECH COMPANIES
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Bay Area biotech companies drew $2.5 billion across 92 venture capital deals in 2019, according to financial data company
Refinitiv. The companies spotlighted on this week’s List are developing everything from cow-free dairy proteins to promising
©
new drugs with potential applications in Covid-19-related lung disease. The five most funded companies alone received more
than a third of funding to the region. Here’s a closer look at the biotechs that caught the eyes of VCs last year. — Julia Cooper
20
20
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No. 1 No. 2 No. 3 No. 4 No. 5

BRIDGEBIO PHARMA INC. MAZE THERAPEUTICS PERFECT DAY INC. GRAIL INC. NKARTA THERAPEUTICS INC.
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2019 VC 2019 VC 2019 VC 2019 VC 2019 VC

funding: funding: funding: funding: funding:
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$299M $191M $175M $125M $114M

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Location: Location: Location: Location: Location:

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Palo Alto South S.F. Emeryville Menlo Park South S.F.

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Founded: Founded: Founded: Founded: Founded:

2015 2019 2014 2016 2015
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CEO: CEO: CEO: CEO: CEO:

Neil Kumar Bay Area Jason Coloma Bay Area Ryan Pandya Bay Area Hans Bishop Bay Area Paul Hastings Bay Area
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employees: employees: employees: employees: employees:

213 73 97 380 60
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Topping the list of the most Maze Therapeutics emerged in Funding to innovative food start- Grail has been a mainstay on the Nkarta aims to harness the power
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VC-funded Bay Area biotech February 2019 armed with $191 ups nearly doubled from $516 list of the highest-funded Bay of “natural killer” cells — patho-
companies, BridgeBio develops million from investors led by million in 2018 to just over $1 Area biotech companies over gen-fighting immune cells — in
ou
medicines for rare genetic dis- Third Rock Ventures and ARCH billion in 2019, according to Ag- the past few years. Since early the treatment of cancer. Headed
eases through a unique corporate Venture Partners. The company Funder, a VC focused on agrifood 2016, it has raised more than $1.9 by local biotech industry leader
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structure — it forms focused aims to create medicines around tech companies. Raising $175 mil- billion, including its most recent Paul Hastings, it raised $114 mil-
subsidiaries around individual so-called genetic modifiers, the lion in 2019, Emeryville’s Perfect $125 million funding in December. lion in September 2019 with plans
als
assets or diseases, acting almost genes in DNA that can impact the Day creates milk proteins without Its investors include Illumina Inc., to use its funding to take one mar-
like an incubator for projects that severity of a disease — increas- cows by fermenting microbes ARCH Venture Partners, Microsoft quee drug into two clinical trials
have sprung out of research in- ing the risk of certain diseases in — making a more sustainable, ani- co-founder Bill Gates and Amazon against blood cancers and solid
-N
stitutions. Not long after drawing some while providing protection mal-free source of dairy products founder Jeff Bezos. Backed by tumors, as well s prep another
$299 million from investors in from disease in others. Maze, that mimic the taste of real dairy. evidence from a population-scale drug for in-human studies. Nkarta
ot
January 2019, the company went which has grown to 73 employ- Rather than focusing on putting clinical study program, Grail says also intends to use the money to
public in June, raising $401 mil- ees, said it is focusing on actively out its own products, the compa- that its early detection blood test build out a trial-scale manufactur-
for
lion in gross proceeds in one of progressing its internal programs ny is reportedly working with food can detect more than 50 cancers. ing facility at its 20,000-square-
the biggest local biotech IPOs of toward the clinic as well as iden- brands to incorporate the Perfect Over the past year, Grail has pre- foot South San Francisco offices.
the year. In March it raised anoth- tifying new genetic modifier tar- Day milk protein into such things sented key data at major medical
co
er $550 million in gross proceeds gets of interest from its platform. as ice cream, cheese and yogurt. conferences, published validation
through the issuance of convert- In April, the company received data for its multi-cancer early
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ible senior notes. BridgeBio said FDA approval for its proprietary detection blood test in Annals of
that it expects current cash, cash whey protein. In May, it launched Oncology, and initiated PATH-
equivalents and marketable se- a line of ice cream with the Bay FINDER, an interventional study
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curities to carry it through crucial Area’s Smitten Ice Cream. that is using Grail’s test to guide
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milestones stretching into 2022. clinical care for the first time.
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VC FUNDING BOOMING IN 2020

Despite financial volatility due to Covid-19, venture investments
into Bay Area biotech companies is flourishing in 2020 so far.
$1.2B $326M $544M $612M $736M $553M $783M $505M $638M $526M $493M $813M $1.7B $778M
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
2017 2017 2017 2017 2018 2018 2018 2018 2019 2019 2019 2019 2020 2020
SOURCE: Refinitiv
MAY 22, 2020 43
Sponsored content provided by Waterhouse Brands
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©
20
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PHOTO BY VLADA KARPOVICH FROM PEXELS
ADVICE FOR BUILDING A VIRTUAL CULTURE FOR

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BIOTECH’S REMOTE WORKING REVOLUTION

n Ci
ty
BY KIMBERLY KRAEMER house Brands has partnered with ed — work environment, a corporate accommodations, and help manag-
Bu
biotech companies at various growth intranet can serve as your informa- ers develop soft and hard skills to
If the Covid-19 pandemic is the stages, including Exelixis, MyoKardia tion superhighway and virtual water engage their team members equita-
sin
tipping point that establishes flex- and Global Blood Therapeutics, to cooler. It can enhance productivity bly no matter where they sit in an
ible, remote working as standard support human resources and cor- and business performance and sup- organization. Also, look for ways to
es
practice, how can companies truly porate communications teams in port teams 24/7 across geogra- keep things fun through virtual cof-
make it work? CEOs across the Bay prioritizing three cross-functional phies and devices. Beyond ensur- fee dates, lunches or happy hours,
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Area are thinking critically about mandates — communication, con- ing you’ve got quick links, current because camaraderie — and a sense
when and how to stage a return to nectivity, and community — as the forms, and department spaces with of community — really does matter.
ou
KIMBERLY
offices in the face of mandated safe- cornerstone of what a dynamic vir- all the tools your employees need KRAEMER, Companies that get remote work-
rn
ty and social distancing guidelines, tual culture should be. to do their jobs, the most success- Founder, ing right will thrive across physical,
but another driver may be forcing ful intranets feature “for employees CEO and Chief geographic and virtual boundaries.
als
Brand Strategist,
change. Communicate openly and often to only” content that educates, recog- Waterhouse This will improve employee satisfac-
Generational preferences for drive employee engagement nizes good work, plus offers insider Brands tion, enhance retention, and make
-N
work/life balance and thriving pro- During uncertain times, transparent leadership perspectives. recruiting easier for new genera-
ductivity within the new normal and frequent employee communica- Use it to post your latest Covid-19 “Technology tions of employees. Making these
ot
tilts the future of work in favor tions are a top priority — and once policies, corporate news and execu- changes now will reap benefits long
alone is
for
of employees who want to work things normalize, employees who tive communications all in one place. after the Covid-19 crisis fades away.
remotely. A recently published are decentralized from the home Some platforms offer social features not enough
global survey conducted by Global office will need this level of infor- that allow employees to like, share To learn more about how Water-
co
Workplace Analytics predicts that mation flow to continue. CEOs who and comment on content. In short, to help house can help you build your cor-
mm
businesses will see 25-30 percent sustain a regular cadence of authen- make your intranet the go-to dai- employees porate and employer brand, review
of the workforce working at home tic communications, with opportuni- ly destination that brings everyone our case studies featuring examples
on a multiple-days-a-week basis by ties for two-way dialogue, will keep and everything together. feel of our work.
er
the end of 2021. employees connected to the busi- included, Waterhouse Brands is an inte-
cia
Within the biotech space, this ness mission and drive engagement, Create a community of inclusion grated corporate brand marketing
begs the question: will anyone other no matter where they work. With remote working, we’ve begun engaged and communications firm that builds
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than essential lab, facilities and man- Offering virtual town halls, relying on digital productivity tools with their high-impact brands for mission-driv-
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ufacturing workers ever go back to Q&A sessions, and informal, regu- to facilitate face time, collabora- en healthcare companies. Water-
the office full time? And if they don’t, lar quick-hit updates via video con- tion and bridge the distance gap, company’s house creates, activates and ampli-
how can company culture become ferencing will help keep employees but technology alone is not enough purpose, and fies corporate brands and shapes
sustainably inclusive of employees in the know. Video can improve the to help employees feel includ- employee experiences to engage all
who regularly work onsite and/or effectiveness of your message and ed, engaged with their company’s connected target audiences, bringing purpose
from home? the emotional connection with your purpose, and connected to their to their for patients to life.
In these last few months, compa- audience. And, while CEOs set the colleagues. Kimberly Kraemer is founder,
nies have been adopting new tech- tone, executives across an organi- Look at your organization’s needs colleagues.” CEO and chief brand strategist of
nologies and people practices on zation must show up and reinforce holistically then prioritize and acti- Waterhouse Brands. With decades
the fly to enable effective remote how change impacts their teams and vate solutions. Be curious. Conduct of corporate and agency experience
working. Going forward, beyond individuals. Employees who feel like pulse surveys or focus groups. Ask leading strategic communications,
redesigning their physical spaces, their leaders care — at all levels — what employees want more or less brand marketing and employee
some Bay Area biotech companies will reward them with extra effort of in terms of technology, infor- relations for world-leading health-
are architecting online spaces to and increased commitment. mation and managerial or social care companies, Kraemer’s passion
democratize access to both infor- engagement. Ask what they need is helping mission-driven healthcare
mation and each other in anticipa- Connect people and processes to help get their jobs done. Use companies realize their full poten-
tion of a remote working revolution. through a robust intranet these inputs to customize commu- tial, becoming an employer, partner
What does this entail? Water- In a distributed — or quasi-distribut- nications, make remote-working and investment of choice.
Compiled by Julia Cooper

415-288-4958, @SFBIZJuliaC
[email protected]
AIRLINES R CLOSER LOOK

RANKED BY NUMBER OF PASSENGERS AT SFO AND OAK IN 2019
Airline/Prior rank
Total 2019
passengers, SFO +
Total 2018
passengers, SFO +
Percent change in
SFO + OAK Bay Area market
70.7M
Total passengers traveling
Co
Website Phone OAK OAK passengers share Headquarters CEO through SFO and OAK
airports in 2019, including
py
1 United Airlines 1 800-864-8331

26.17 25.95
0.85% 37.01% Chicago Oscar Munoz airlines beyond the top 25
united.com million million
on the List. This reflects a
rig
slight decrease in traffic

Southwest Airlines 12.96 13.12 compared with 2018, when
2 2 214-792-4000
million million
-1.2% 18.32% Dallas Gary Kelly there were 71.3 million
ht
southwest.com
passengers at the two
airports.
©
3 Alaska Airlines 3 800-252-7522

7.47 7.98
-6.43% 10.56% Seattle Brad Tilden
alaskaair.com million million
BIGGEST INCREASE
20
IN BAY AREA
4 Delta Air Lines 4 800-221-1212
4.9 4.85
0.92% 6.93% Atlanta Ed Bastian PASSENGERS, 2018-19
20
delta.com million million In 2019, Frontier Airlines

added nonstop service
between San Francisco
American Airlines
Am
4.41 4.75
5 aa.com
5 800-433-7300
million million
-6.98% 6.24% Fort Worth, TX Doug Parker and a number of U.S. cities,
including Austin, Texas, four
times a week.
er
6 JetBlue Airways 6 800-538-2583

1.72 1.95
-11.8% 2.43%
Long Island City,
Robin Hayes
jetblue.com million million NY
Frontier Airlines 45%
ica
Qantas Airways 29%

7 Air Canada 7 1.12 1.14
n
888-247-2262 -1.52% 1.59% Montreal Calin Rovinescu

aircanada.com million million
Volaris 14%
Ci
Aeromexico 12%
8 Hawaiian Airlines 9 800-367-5320 741,639 744,805 -0.43% 1.05% Honolulu Peter Ingram
ty
hawaiianairlines.com Singapore Airlines 11%

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9 Spirit Airlines 8 801-401-2222 713,991 816,768 -12.58% 1.01% Miramar, FL Ted Christie
spirit.com ABOUT THE LIST
This List includes airline
sin
carriers operating out of

10 EVA Air 10 800-695-1188 567,890 559,512 1.5% 0.8% Taiwan Sun Chia-Ming1 San Francisco International
es
evaair.com Airport (SFO) and Oakland

International Airport (OAK).
sJ
11 Cathay Pacific 11 800-233-2742 529,929 536,307 -1.19% 0.75% Hong Kong Augustus Tang
cathaypacific.com Information was obtained
from SFO and OAK
ou
representatives and
12 Lufthansa 12 800-645-3880 493,851 504,214 -2.06% 0.7% Cologne, Germany Carsten Spohr SFBT research. Several
rn
lufthansa.com large airline carriers have

partnerships with smaller
als
regional airlines, which

13 Frontier Airlines 17 801-401-9000 476,731 328,721 45.03% 0.67% Denver Barry Biffle
flyfrontier.com were incorporated into their
passenger data.
-N
14 Norwegian Air 13 800-357-4159 459,777 489,809 -6.13% 0.65% Baerum, Norway Jacob Schram NEED A COPY
norwegian.com OF THE LIST?
ot
For information on
obtaining commemorative
15 British Airways 14 800-247-9297 437,051 482,537 -9.43% 0.62%
Harmondsworth,
Alex Cruz
for
britishairways.com England plaques, reprints or web

permissions, contact Lacey
Patterson at 415-288-
Air France
co
Tremblay-en- 4961, or at lpatterson@

16 airfrance.us
15 800-237-2747 359,462 343,129 4.76% 0.51%
France, France
Anne Rigail
bizjournals.com. No other
companies offering similar
mm
services are affiliated in

17 Singapore Airlines 18 800-742-3333 357,093 322,027 10.89% 0.5% Singapore Goh Choon Phong any way with the Business
singaporeair.com
Times. More information
er
can be found online at

18 Aeromexico 22 SanFranciscoBusinessTimes.
cia
800-237-6639 339,192 301,874 12.36% 0.48% Mexico City Andres Conesa

aeromexico.com com by clicking the “Store”
lu
19 Korean Air 16 800-438-5000 334,020 335,937 -0.57% 0.47% Seoul, South Korea Cho Won-tae WANT TO BE
koreanair.com
ON THE LIST?
se

Emirates Dubai, United Arab Sheikh Ahmed bin when The List is next
20 emirates.com
19 800-777-3999 317,696 315,145 0.81% 0.45% Emirates Saeed Al Maktoum updated, or if you wish to
be considered for other
Lists, email your contact
21 Volaris 24 855-865-2747 315,586 276,793 14.02% 0.45% Mexico City Enrique Beltranena information to Julia Cooper
volaris.com
at juliacooper@bizjournals.
com.
KLM Royal Dutch Amstelveen,
22 Airlines 21 800-618-0104 311,490 305,583 1.93% 0.44%
Netherlands
Pieter Elbers
WANT TO SEE OUR FULL
klm.com
LISTS ONLINE?
To see this and other lists
23 Philippine Airlines 23 800-435-9725 307,436 284,339 8.12% 0.43% Pasay, Philippines Lucio Tan online (often including more
philippineairlines.com
listings and information
not shown in print),
Virgin Atlantic visit bizjournals.com/
24 virginatlantic.com
20 800-862-8621 289,573 312,365 -7.3% 0.41% Crawley, England Shai Weiss
sanfrancisco/datacenter/
lists.
25 Qantas Airways
qantas.com
* 800-227-4500 271,237 209,890 29.23% 0.38% Mascot, Australia Alan Joyce
1 President.
NOTES: * - did not rank.

MAY 22, 2020 45
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©
20
SFO
20
GROUNDED
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FLY ME TO - NOWHERE?
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ica
n Ci
“The
ty
Travel industry sees brutal spring as A look at how some of the Bay Area’s
Covid-19
Bu
Covid-19 causes devastating drop in flights largest commercial airlines are faring
pandemic
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BY AHALYA SRIKANT Aireon, a global traffic surveillance has sig- BY AHALYA SRIKANT with financial assistance to keep
es
[email protected] company, foresees a steady decline nificantly [email protected] employees on payroll through the
in service offered through 2020. end of September, although some
sJ
The Bay Area travel industry is reel- “A comparison of various Tues- impacted The four largest airlines on the List — major airlines have signaled layoffs
the
ou
ing from the Covid-19 crisis, with days clearly shows the effect that those that see the most traffic out of or hour reductions when that dead-
flight cancellations and stay-at- Covid-19 has had on traffic vol- SFO and OAK airports — have seen line arrives. Others are suggesting
number
rn
home orders. SFO reported that they umes and flight routes starting in drastic losses in their own revenue unpaid leave for employees before
of aircraft
als
could lose $1 million per month from March 2020, which has particular- streams this year. Many face mas- then. Here is how the four largest
airline landing fees, concessions and ly hit commercial passenger traffic sive layoffs in the fall after the mon- airlines on the List are handling the
shopping. Cyriel Kronenburg, vice in significant numbers,” says Kro- flying in ey from the CARES Act runs out. crisis. Stock price and market capi-
-N
president of Aviation Services at nenburg. the Bay The CARES Act provided airlines talization as of May 20.
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Area.”
SPRING BLIGHT UNFRIENDLY SKIES
for
SAN JOSE INTL. AIRPORT OAKLAND INTL. AIRPORT S.F. INTL. AIRPORT CYRIEL United
KRONENBURG, Signaled sharp STOCK PRICE MARKET CAP CARES ACT BUDGET
co
Flight decrease | Jan. 14 to March 17 Flight decrease | March 17 to May 12 Vice president of cuts in staffing
Aviation Services beginning Oct. 1
$24.91 $7.2B $5.0B
mm
at Aireon
er
- 2.7%
Southwest
cia
While not noting STOCK PRICE MARKET CAP CARES ACT BUDGET
any layoffs, it did
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signal that 20K

employees need
$29.15 $17.2B $3.2B
se
to take unpaid
leave.
- 7.4%
Alaska
The airline has STOCK PRICE MARKET CAP CARES ACT BUDGET
not yet had major
layoff signals, but
- 49.3%
is asking staff to
take voluntary
$22.72 $14.5B $5.8B
leave.
Delta
No layoffs yet, STOCK PRICE MARKET CAP CARES ACT BUDGET
but it has cut
pay for higher
$30.26 $3.7B $5.4B
- 68.5% SFO glows in
level execs and
purple in honor is asking for
- 16.2% - 73.3%
of hospitality voluntary leave.
workers on
SOURCE: Aireon, based in McLean, Virginia, operates a global aircraft tracking and SOURCE: Business Insider, Keranews, Seattle Times, Dallas Business Journal,
surveillance system utilizing satellite-based receivers to monitor equipped aircraft worldwide. April 6, 2020. PR Newswire, CBS Local
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05/07/20. Francisco 94114.
20
PD Restoration of East Larkwood Studio, 230 Lark

Bay Inc., 1519 Davis Ave., Walac Pet Services LLC, Kathleen Moore, Kathleen
Ln., Alamo 94507. Moore and Associates, 221
Concord 94519; Assets, 1766 Mission St., San
$79,000; Debts, $6,890,043; Francisco 94103; Assets, EMAIL EDITION Lauren Dugas, California Noe St. #1, San Francisco
Am
Major Creditor, Paul Davis $0 to $50,000; Debts, $0 to To buy Leads information for San Francisco and more than 40 other markets, call 877-593-4157, Strong Athletics, 1441 94114.
Restoration Inc., $3,800,000; $50,000; Attorney, Geoffrey Franquette Ave. #7925,
E. Wiggs; case #20-30399,
or see bizjournals.com/leads. The information is available on disk or via e-mail and arrives earli- Concord 94520.
Thinkfullee, 137 Anzavista
Attorney, David A. Arietta; Ave., San Francisco 94115.
er than the published version.
er
case #20-40866, 05/07/20. 05/11/20. Green Grass & High Tides Serghio Munoz, Msquared,
Chapter 11 Chapter 11 LLC, 160 Canyon Green 1303 Montgomery St. Lower,
ica
Place, San Ramon 94582. San Francisco 94133.

Galileo Learning LLC, 1021 Crosscode Inc., 950 Tower
3rd St., Oakland 94607; Ln. #2100, Foster City Recycling Analytics, 696 Reyna Lee, Eloquent Woman
Assets, $10,000,001 94404; Assets, $100,001 San Ramon Valley Blvd., Magazine, 601 Van Ness Ave.
n
to $50,000,000; to $500,000; Debts, Danville 94526. Bldg. E3-335, San Francisco

Debts, $10,000,001 to $1,000,001 to $10,000,000; Samuel Ciaramitaro, 2148 Deerwood Dr., Martinez Eloise Anderson, Get Ready! Kenny Truong, Fast Real Andrea Willoughby, Embody 94102.
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$50,000,000; Attorney, Neal Attorney, Bao M. Vu; case Red Apple Learning, 4717 94553. Dogs, 135 Draeger Dr., Estate, 2603 Camino Ramon, Your Joy Healing, 2303
L. Wolf; case #20-40857, Sarah Smith, The Noe Valley
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Ahmad Walizada, Generalia, Voice, 55 Ora Way #B101,
ty
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CDL School, 2950 Buskirk Dr., Moraga 94556. San Ramon 94583. Navigation Coaching, 5600 St., San Francisco 94103.
St., Oakland 94607; Assets, Names Ave. #300, Walnut Creek Themed R Us, 1445 Slater San Jose Ave., Richmond
$1,000,001 to $10,000,000; 94597. Ct., Concord 94521. Andrew Harnett, ADH Nicole Jimenez, Raw Food 94804. Brookwood/Starboard, 44
Debts, $0 to $50,000; Registered Construction Management, 9 and Goods, 2050 Bent Creek Montgomery St. #1650, San
sin
Louis Jones Jr., Bright Jones Postelsia, 2603 Camino Bayareapreschools.com,

Attorney, Neal L. Wolf; case Francisco Ct., Orinda 94563. Dr., San Ramon 94582. Francisco 94104.
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Tahos Rd., Orinda 94563. 94507.
COUNTY Records/K&K Productions,
es
San Francisco Division Consulting, 309 Carmel Ave., 30th St. #15, San Francisco
Walnut Hill Apartments, Eric Tsuchimoto, Manoa 228 Waterstone Place, San Abraham Calderon, Sunny
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Chapter 7 1755 Trinity Ave. #1, Walnut Solutions, 152 Summerset Ramon 94582. Day-Care, 1410 Richmond
Neighbor Farm, 332 Nancy Creek 94596. Garima Hoffmann, Anada
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Ct., San Ramon 94583. Michael Catalli, Michael St., El Cerrito 94530.
B&H Builders Associates Ln., Pleasant Hill 94523. Catalli Appraisal Services, Cal Waite, CJW Industrial Fuara Vegetarian Restaurant,
Inc., 918A Clement St. #101, Jose Martinez, Jose G. Danyal Kamal, Danyal Sales, 4202 Buchanan Ct., Mark Peterson, Happy
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San Francisco 94118; Assets, Martinez dba State Farm Kamal, 2410 Camino Ramon Pittsburg 94565. Garden Child Care, 1301 Francisco 94102.
ou
Media, 1557 Denkinger Ct., Insurance Agency, 2200 Sand #194, San Ramon 94583. 94530. Everett St., El Cerrito 94530.
$0; Debts, $39,504; Major
Concord 94521. Creek Rd. #D, Brentwood Keyrenter Contra Costa Sherryl Rodrigues, Special Diya, 25 Mason St., San
Creditor, Northern California Diverse Nation, 12651 San
Collection Center, $34,504; Cheryl Mosca, Fly Media 94513. Property Management, 635 Treats Collectibles, 410 Pine SAN FRANCISCO Francisco 94102.
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Pablo Ave. #5154, Richmond Ridge Dr., San Ramon 94582. COUNTY
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case #20-30384, 05/05/20. Ct. #B, Concord 94521. Associates Family Law LLP, 94582. Daniel Lynde Jr., Canon William Hammons, Urban St., San Francisco 94110.
als
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Data Scientists Designers Software Engineers (Multiple Positions) Software Engineers (Multiple Positions)
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(Multiple Positions) (Multiple Positions) Salesforce.com, Inc. has multiple career opportunities in StubHub, Inc. has career opportunities in San Francisco, CA for
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StubHub, Inc. has career

Stitch Fix, Inc. has career San Francisco and San Mateo for Engineers including: Engineers including: Software, QA, Web Development, Software
opportunities in San
CLASSIFIED AD PROOF
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opportunities in San Software Engineer (Req.# SWE301REM); Quality Assurance Developers, Database, Data Warehouse, Data Architect, User
Francisco, CA for Data
Scientists including, but not Francisco, CA for Designers Engineer (Req.# SWE302REM); Applications Engineer (Req.#
Interface, Information Security, System Integration, Release,
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limited to: Data Scientists, including: Product, UX, UI, SWE303REM); Systems Engineer (Req.# SWE304REM);
Network and Cloud. Positions include: junior, senior, and
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Researchers. Positions management positions. Positions require BA/BS, MA/MS, MBA

junior, senior & management Applications Engineer (Req.# SWE306REM); User Interface
include: junior, senior, and 125 S. Market
positions. Positions require Street.
Engineer 11thSWE307REM);
(Req.# Floor Localization Engineer To: __________________________________________________________
or PhD. Multiple positions/openings. Must be legally authorized
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management positions. San Jose, CA 95113

BA/BS, MA/MS, MBA or PhD. (Req.# SWE308REM); Site Reliability Engineer (Req.# to work in US without sponsorship. Submit resume with ref. to:
Positions require BA/BS, MA/
Tel. (408) 295-3800
FAX # _______________________________________________________
sJ
MS, MBA or PhD. Multiple Multiple positions/openings. SWE309REM); Web UI Engineer (Req.# SWE310REM); Req. #: SWE100SH at: ATTN: HR, Cube 7.2.170, 2065 Hamilton
positions/openings. Must be Mail resume w/ referencesFAX (408) 295-5028
Automation Engineer (Req.# SWE311REM); Network Engineer Ave., San Jose, CA 95125. EOE
Company: ___________________________________________________
ou
legally authorized to work to: Req.#: DES10ST at: (Req.# SWE312REM); Program Architect Engineer (Req.#
in US without sponsorship. ATTN: Corinna Lee, People SWE313REM); Performance Engineer (Req.# SWE314REM); Vice President/Programmer Prof MKTS sought by Bank of
MoniqueAmericaFaylor 408.299.1818
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Submit resume with ref. to:

Req. #: DS200SH at: ATTN:
Ops Mgr., Stitch Fix, Inc.,Client: Information
Park From: ___________________________
Security Engineer (Req.# SWE315REM). Positions
Advertising Phone
N.A. to develop system ______________________
engineering, sftwr engineering,
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1 Montgomery Street, Ste. include: Junior (including entry level), Senior, and Management system integration, or distributed system architectures. Reqs:
HR (Cube 7.2.170), 2065
Slug: Coinbase_050120_11262
positions. Positions require BA/BS, MA/MS, Message
MBA or PhD. _____________________________________________________
Hamilton Ave., San Jose, CA
95125. EOE
1500, San Francisco,
CA 94104. Designer: J. Sherrypositions/openings. Telecommuting is an option. Some
Multiple CLASSIFIED AD PROOF
Bachelor’s degree or equiv. & 5 yrs exp. in designing &
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developing solution architectures to scale backend systems

Rep: Monique Faylor _____________________________________________________________
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using Python, Spring Boot & rest specifications; Utilizing full
Sr. Engineer, Systems resume w/ ref. to: Req.# at: Salesforce.com HQ, Rincon Post Date: _______________________
ot
Databricks, Inc. seeks in San

Francisco, CA: Software Verification, Fresenius USA, _____________________________________________________________
Office PO Box #192244, San Francisco, CA 94105. Salesforce.
stack engineering, Linux, coding & debugging. 15% Domestic
travel, as necessary. Job Site: Concord, CA. Ref# 4540589 &
Inc., a Fresenius Medical125 S. Marketcom Street. 11thOpportunity
Floor
To: __________________________________________________________
for
Engineer – Developer Tools is an Equal & Affirmative Action Employer.

(Job Code 0776) to develop Care N.A. company, Concord,San Jose, CA 95113 submit resume to Bank of America N.A. NY1-050-03-01, 50
Education, experience and criminal background checks will
CA Develop & execute sys. Tel. (408) 295-3800
and scale software build, test, be conducted. FAX # _______________________________________________________
Rockefeller Plaza, New York, NY 10020. No phone calls or
co
verification plans, protocols &

deploy, and automation tools for FAX (408) 295-5028 emails. EOE.
reports for multiple projects
1x2
software features development
Company: ___________________________________________________
mm
& serve as tech. contact in Funding Circle USA,

on Databricks’ software as a
company to provide decisions Coinbase, Inc. Square, Inc. has the following jobs available in San Francisco
service (SaaS) platform. Senior Inc. seeks US Head of
Software Engineer –
& recs. for sys. verification seeks a Senior Moniqueand/orFaylor
From: ___________________________
Oakland, CA: 408.299.1818
Phone ______________________
er
aspects of projects. Req’s:Client: Park Advertising

Commercial & Business
Machine Learning (Job Code · Business Systems Analyst, Oracle Supply Chain (Req.#
Master’s (or foreign equiv.) Backend Engineer,
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5320) to develop machine learning Slug: Amazon_052220_A157108_SF

Strategy in San Francisco,
Message _____________________________________________________
18-6198): Work on complex biz problems, leveraging Oracle
in Industrial Eng., Eng.
algorithms that scale to massive
Management, Comp. Eng. Designer:
or
CA: Oversee & mnge the
J. Sherry Payments, Core in Procure to Pay, Quote, Cash & our supply chain. Lead full
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datasets and implement Spark

SQL analytics tools for processing
closely rel. field & 1 yr. exp. execution
Rep: Monique Faylor
of US strategic _____________________________________________________________
San Francisco, CA.
projects from concept to launch. Req’s: BS(or equiv.)+5 yrs.
as Verification/Validation Eng. exp.
& biz ops agenda. Provide
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large volumes of data. Mail resume

referencing applicable Job Code
For full job descr. & reqs. &
guidance to decision-making Apply_____________________________________________________________
@ https://job · Software Engineering Manager (Req.# 18-4807): Manage
apply at https://jobs.fmcna. an engineering team capable of dvlping & maintaining critical
to Databricks, Inc., Attn: HR, 160 com/ under “Sr. Engineer, & prioritization. Req’s: 5 yrs. postingtoday.com/ systems. Req’s: 3 yrs. exp.
Spear St, 13th Floor, San Francisco, Systems Verification”, Submit resume w/ ref. to: (include Req. No.) at: ATTN: Veronica
CA 94105. No recruiters. EOE. (Job ID #200008O3).
exp. Submit resume with Ref #11262 Raygoza, Global Immigration Manager, Square, Inc., 1455
references to: ATTN: HR, Market St., Suite 600, San Francisco, CA 94103.
Software Engineers (Multiple Positions)

Funding Circle USA, Inc.,
1x3 IT/Software Development
85 2nd Street, San Francisco, Amazon.com Services, LLC seeks
Twitter, Inc. has career opportunities in San Francisco for
CA 94105. Please reference candidates for the following (mul-
Engineers including: Software, Quality Assurance, Applications, tiple positions) in San Francisco,
Req.#: 17-6976 with your CA:
Systems, Hadoop, Oracle, Front-End, Network, Site Reliability,
submission. Software Development Engineer
User Experience, Full Stack & Machine Learning(ML).
I (Job Code 20273.6346.4).
Positions include: Junior, Senior, and Management positions. Design, develop, implement,
test, document and deliver large-
Positions require BA/BS, MA/MS, MBA or PhD. Multiple
scale, multi-tiered, distributed or
positions/openings. Submit resume w/ ref. (including the type of embedded software applications,
engineering role(s) you are applying for) to: Req: #SWE100SF
tools, systems and services. target first-class candidates
Mail CV to: Amazon, PO Box
at: ATTN: Global Mobility, Twitter, Inc., 1355 Market Street, 81226, Seattle, Washington 98108, Contact Kathy Biddick | 415-288-4925
referencing job code. or [email protected]
Suite 900, San Francisco, CA 94103.
VIEWPOINT Send letters and columns

to Editor-in-Chief Douglas Fruehling
The San Francisco Business Times welcomes contributions to this page at [email protected]
GUEST COMMENT
EB-5 MERITS
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275 Battery St., Suite 600, San Francisco, CA 94111
A PLACE IN
(415) 989-2522 | [email protected]
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BAY AREA MARKET PRESIDENT & PUBLISHER

Mary Huss
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STIMULUS
415-288-4934 | [email protected]
©
20
EDITORIAL
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EDITOR-IN-CHIEF SENIOR RESEARCHERS

Douglas Fruehling STAFF REPORTER Julia Cooper
Despite talk of expanding the tor at the Federation for Amer- 415-288-4910 Mark Calvey 415-288-4958
Am
EB-5 immigrant investor program ican Immigration Reform, said dfruehling 415-288-4950 juliacooper
in Congress’ stimulus efforts, we shouldn’t use a “coronavirus @bizjournals.com mcalvey @bizjournals.com
er
@bizjournals.com
nothing further has progressed, package to give more green cards MANAGING EDITOR Ahalya Srikant
ica
as the initial financial response to shady investors from the coun- Jim Gardner STAFF REPORTERS 415-288-4962
to the Covid-19 pandemic had to try where the virus originated.” 415-288-4955 Alex Barreira asrikant
n
prioritize our most pressing pub- This critique is misleading. It’s jgardner 415-288-4927 @bizjournals.com
@bizjournals.com abarreira
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lic health and unemployment not as if expanding the program

@bizjournals.com VISUAL
issues. Reid Thomas, now will mean an influx of thou-
ty
DEPUTY JOURNALIST
But federal lawmakers would executive vice sands of new immigrants arriving MANAGING EDITOR Dawn Kawamoto Todd Johnson
Bu
do well to not let EB-5 expansion president of on our shores tomorrow. It’s not Christine Kilpatrick 415-288-4945 415-288-4970
slip through the cracks. Expand- San Jose-based even about creating construction 415-288-4933 dkawamoto tjohnson
sin
ing the program will help accom- NES Financial’s jobs for people who are, in the ckilpatrick @bizjournals.com @bizjournals.com
@bizjournals.com
plish what any stimulus pack- Specialty near term, rightly staying home. Ron Leuty LEAD DESIGNER,
es
age intends to do: stimulate the Financial It’s about helping the U.S. econ- DIGITAL 415-288-4939 EDITORIAL
economy. Administration omy recover when the outbreak EDITOR rleuty@ Ian Lawson
sJ
Just look at how the program division inevitably passes, a significant Ted Andersen bizjournals.com 415-288-4947
415-288-4904 ilawson
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worked in the wake of our last recession unfolds and impacted

tandersen Brian Rinker @bizjournals.com
recession a decade ago. Back then, communities need help. @bizjournals.com 415-288-4923
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EB-5 — which offers green cards to And to be clear, the immigrants brinker INTERN
als
immigrants whose investments in who do eventually make it to the SPECIAL PROJECTS @bizjournals.com Simon Campbell
U.S. businesses create at least 10 United States through EB-5 are far EDITOR 415-288-4951
permanent, full-time jobs — pro- from “shady.” U.S. Citizenship and Kevin Truong Laura Waxmann scampbell
-N
415-288-4916 415-288-4960 @bizjournals.com

vided sorely needed (and inex- Immigration Services, in addition ktruong lwaxmann
pensive) capital. By one estimate, to rigorous background screen- @bizjournals.com @bizjournals.com
ot
the program created over 276,000 ings, is hypervigilant about trac-

for
jobs and contributed more than ing applicants’ funds back to the
$37 billion to our country’s GDP source to ensure they were earned SALES
co
between 2010 and 2015. legally. ADVERTISING ADVERTISING PRODUCT

And, unlike the stimulus under Others have called EB-5 a DIRECTOR ACCT. EXECUTIVES ACCT. EXECUTIVES
mm
former President Barack Obama, “green card for sale” program, Michael Fernald Alex Meurer Lacey Patterson
which the Congressional Budget citing instances of fraud and the 415-288-4942 415-288-4920 415-288-4961
mfernald@ ameurer lpatterson@
er
Office suggests cost U.S. taxpayers lack of funds given to rural com-
bizjournals.com @bizjournals.com bizjournals.com
between $540,000 and $4.1 mil- munities. And sure, like near-
cia
lion per each job created, EB-5’s ly all unique investment mod- ASSOCIATE Kierstyn Moore James Beckner
job creation comes at zero cost to els, the program is susceptible SALES DIRECTOR 415-288-4932 415-288-4930
lu
the U.S. taxpayer. to bad actors. That the process is Corinne Crncich kmoore jbeckner@
415-288-4931 @bizjournals.com bizjournals.com
se
It seems only logical that we extremely complex and challeng-

ccrncich
take all the alternative sources of ing to track doesn’t help matters; @bizjournals.com Josh Tavares LEAD DESIGNER,
inexpensive capital — and the cor- each investor’s application ends 415-288-4926 ADVERSITING/
responding beneficial communi- up being nearly 3,000 pages long. SENIOR MANAGER, jtavares EVENTS
ty impact — we can get. Data from But these critiques, along with MAJOR ACCOUNTS @bizjournals.com Jeff Patingan
Siggi Reavis 415-288-4959
the U.S. Department of Commerce the political gesturing and par-
415-288-4928 jpatingan
shows that by adding just 1,500 tisanship surrounding EB-5, sreavis @bizjournals.com
extra EB-5 visas (significantly doesn’t mean we should disregard @bizjournals.com
less than the discussed boost of all of the good things it provides.
65,000), we would create roughly We just need to be more diligent
8,000 permanent American jobs. about the integrity and transpar-
So, what’s the holdup? ency of the EB-5 fund process. EVENTS ADMIN
Well, some immigration crit- Expanding EB-5 won’t rebuild EVENTS OFFICE ASSISTANT
ics have suggested that expanding the economy on its own, but DIRECTOR MANAGER TO THE PUBLISHER/
the program now is “Washington there are few — if any — down- Felicia Brown Kathy Biddick PROJECT MANAGER
415-288-4936 415-288-4925 Tom Thompson
at its worst.” In an interview with sides. Let’s not let the potential of fbrown@ kbiddick@ 415-288-4919
Politico, for example, RJ Hau- a time-tested tool like EB-5 go to bizjournals.com bizjournals.com tthompson@
man, government relations direc- waste. bizjournals.com
MAY 22, 2020 49
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SOLUTIONS FOR SMALL BUSINESS OWNERS.

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ABOUT GIBEAU and same value system, but you

Education: also want that diversity of think-
B.A. from Univer- ing that’ll attack the problem in
sity of Southern ways that are novel and new.
California; MBA
from Santa Clara
University What was your key strate-
gy for engineering your turn-
Residence: around? The thing that’s special
Atherton about games is the unique bond
Co
First job:
between the product and the user.
Words with Friends and Zynga
py
Working for his

uncle’s construc- Poker had millions of people play-
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tion company ing it, but they weren’t priorities

at the company when I joined. A
ht
Favorite
restaurant:
lot of turnarounds are just about
prioritization initially. It’s cutting
©
Tony’s Pizza
EXECUTIVE PROFILE Napoletana away the stuff that’s not making
20
money or not mission-critical to

Favorite game: growth. The other part of a turn-
20
Warcraft
around that’s really important is
Interests: building the company’s credibil-
Am
Games, interna- ity. You want to start to rack up

tional travel, ski- wins, and they start to build this
er
ing, soccer and a momentum that people can see

deep passion for
ica
planes
and feel and they want to join.
For us, it was creating live oper-
n
ZYNGA
ations of big forever franchises
Ci
like Words with Friends and Zyn-

Headquarters:
ga Poker. Once we started to get
ty
San Francisco
our confidence and we started
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What it does: to attract investors and new tal-

Develops games ent, then we expanded and felt it
sin
for mobile de- was OK to now build new games.

vices and social
networks
It needs to be a sustainable turn-
es
around. It can’t be a pop and drop.

Employees:
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1,900 What keeps you up at night?

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We’re very fortunate and grateful

Bay Area
ZYNGA
employees: 600
to be an economic sector that is
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actually giving people something
FRANK GIBEAU
als
2019 revenue: to do while they’re sheltering in

$1.32B, up 46% place but, as CEO you’re looking
over previous at the idea really the idea of how
-N
year
do we keep executing? How do
CEO, ZYNGA Market cap: we keep the culture strong with
ot
$7.53B work-from-home? How do you
G
for
ot game? Apparently Zynga CEO Frank Gibeau does. After a two- tern recognition for what Zynga continue to execute and deliver on
month retirement from games giant Electronic Arts, where he was going through. It missed the THE (NEW) commitments when everything
ROUTINE
co
worked for 24 years, including most recently as the head of its platform transition from Facebook around you is kind of a lot dif-
mobile division, Gibeau in March 2016 was named CEO of the struggling to mobile. It was spread pretty Title screen: ferent than in January? So while
Wakes up at
mm
and discounted social games maker Zynga. The company, whose once lofty thinly, but it had some spectacular 6:30 a.m., makes
we’re optimistic about the long
star was built on the back of Farmville and Facebook, was struggling in brands, really talented people and breakfast and term about games, we know that
er
the migration to mobile games. Since taking the CEO post, Gibeau has great data science product man- gets his three short term, there’s a lot of chal-
grown Zynga’s revenue 78% from $741.4 million in 2016 to a record $1.32 agement capabilities. teenagers up lenges on the planet right now,
cia
billion in 2019 with recent first-quarter results continuing that upward for their virtual and we’re going to try to navigate
classes
trajectory. Gibeau explained what led him to the games industry and his Zynga’s share price and revenue them as carefully as possible.
lu
strategy for pulling off Zynga’s turnaround. have been reaching new levels. On the grind:
se
What’s been your secret in that? Has Zoom meet- With your turnaround complete
As a kid, how active of a gam- the job. My dad saw an ad in the First and foremost, I had to put ings from about what course are you charting
er were you? My dad was a Sili- newspaper for a tester and a mar- a management team together. If 8 a.m. to 6 p.m. now? We switched about a year
with the help of
con Valley engineer so we had a keting assistant for flight simula- a company’s in a bad spot, typi- equipment his
ago to our growth mission. We are
lot of hardware in the house all tors at EA. cally it’s true that the leadership daughter uses starting to expand a little bit into
the time. At a very early age, I ranks probably aren’t working to film TikTok new games and have started to
started playing text-based adven- What experience at EA helped well together or aren’t particularly videos use our balance sheet to acquire
ture games on it. I got really into you see parallels with Zynga? The good. So, what you do is go down new companies. We are also
Cool down:
making games of all types, board most rewarding time at EA was a couple layers inside the organi- Works out on
experimenting with putting our
games, Dungeons and Dragons or when we were totally counted out. zation for talented people that are a Peleton and games on new platforms like Snap
computer games. I’ve been play- We were the worst company in one or two jobs down from the rowing machine and entering new regions like
ing games on every device you the world two years in a row, but leads who haven’t been given the before having Asia. We are fueling the company
can think of since the early ’70s. that ascent all the way back up, opportunity to step out. The sec- dinner generally around the idea that we can deliv-
cooked by his
I had no idea when I went to col- the games we made, the things I ond piece is you want to bring in son. Then relaxes
er predictable growth and perfor-
lege that there was a career in learned, the stuff that we did, that some folks you’d been successful until 1 a.m. mance through our live opera-
gaming. I joined Electronic Arts was the most rewarding time. I with before. In a turnaround, you reading, play- tions while expanding our growth
in 1991 right out of college, and thought Zynga was an interesting want to make sure the people you ing games and through new games and M&A.
it was total serendipity that I got challenge and I had a lot of pat- have around you have the right watching TV. — Dawn Kawamoto
MAY 22, 2020 51
PA I D A DV E RT I S I N G
PEOPLE ON THE MOVE

BOARD OF DIRECTORS BOARD OF DIRECTORS NEW HIRE
Laura Powell Michael Steinberg Christopher Brown

Principal Director Chief of Policy
Laura Powell LLC Chevron Corp. PRC
Laura Powell, who has actively Mike Steinberg has been with As Chief of Policy, Christopher
served the Bay Area nonprofit Chevron Corporation since 2008 Brown is responsible for PRC’s
community for many years, joins and currently serves as the team public policy and government
the PRC board after serving on lead for Chevron’s Global Public affairs efforts, leaning on
its campaign and development Health and Special Projects, his background as a former
committees for the last 3 years. within the Enterprise Health Legislative Director in Congress,
Her most recent prior board function, a position he’s held his time at Oakland-based
Co
service was as Board Chair for since 2018. He oversees various PolicyLink, and most recently
Larkin Street Youth Services in health projects and programs as Sr. Counsel at Bird, a global
py
San Francisco. Powell’s firm provides consulting to privately- across the enterprise that support the health, wellness and micro-mobility firm. After moving to San Francisco in 2013,
held organizations to recruit senior staff and to improve team safety needs of the company’s 40,000+ employees as well as he now serves on numerous non-profit and university boards
rig
and board dynamics. communities in which the company operates. and has advised several political campaigns, including Hillary
Clinton’s Policy Advisory Council in 2016.
ht
©
20
NEW HIRE NEW HIRE NEW HIRE

20
Steve Welsh Matt Ducharme Miranda Zolot

Vice President Design Leader West Coast/ General Counsel
Am
of Solutions Consulting North America, Associate Principal Oyster HR Inc.

Planful Woods Bagot Miranda Zolot joins Oyster –
Steve Welsh has joined Matt Ducharme joins Woods a startup dedicated to fixing
er
Planful as Vice President (VP) Bagot as Design Leader West the broken international hiring
ica
of Solutions Consulting. An Coast/North America and model – from publicly traded

industry veteran in the cloud Associate Principal. With degrees HR company, TriNet, where she
FP&A space, Welsh has more in structural engineering as well served as Vice President and
n
than 15 years of experience as architecture, Matt’s design Associate General Counsel.

Ci
driving results in solutions thinking emerges from this There, Zolot oversaw the Claims
consulting and a strong track multi-disciplinary perspective. Team and Risk Management
ty
record of building high-performance teams. Before joining His diverse portfolio emphasizes experience, context, and initiatives, allowing her to support customers and evolve legal
Planful, Welsh served in two key leadership roles at Vena technology. Significant projects include 447 Collins Street products, while minimizing risk for the company. Zolot will
Bu
Solutions, including VP of Solutions Consulting and Director (The Arch), Australia’s first true mixed-use tower, and 111 further hone this unique skill set in her new role overseeing
of Solutions Engineering. West 57th Street in New York, which will be the most slender legal platform strategy for Oyster.
sin
skyscraper in the world.

es
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NEW HIRE NEW HIRE NEW HIRE
Jeff Stahl Dr. Sandra Schmid Cameron Esdaile

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Design Manager Chief Scientific Officer VP of Technology and Innovation

Swinerton Chan Zuckerberg Biohub ThousandEyes
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Swinerton welcomes Jeff Stahl Dr. Sandra Schmid has been To further empower customers,
als
to oversee design management named as the first Chief ThousandEyes has established
and comprehensive Bay Area Scientific Officer at the Chan the Office of the CTO with
market engagement. As an Zuckerberg Biohub, a nonprofit the appointment of Cameron
-N
Architect and trusted advisor, research organization setting Esdaile as VP of Technology

Jeff brings focus to collaborative the standard for collaborative and Innovation. Esdaile will
ot
relationships that enhance science. The CZ Biohub is also spearhead product exploration
project outcomes for our pleased to announce that Dr. and acceleration, identifying
for
clients during the design and Schmid has been elected to the how innovations can be applied
construction process. His experience in Progressive Design- National Academy of Sciences. Dr. Schmid joins the CZ Biohub to different ThousandEyes product areas. He joins ThousandEyes
Build and other alternative project delivery methods will staff from the University of Texas, Southwestern Medical from Aruba, a Hewlett Packard Enterprise Company, where he
co
provide multi-discipline leadership to all market sectors Center, where she served as Chair of the Department of led innovation and rapid prototyping initiatives in Aruba’s own
Swinerton serves. Cell Biology. CTO Office.
mm
er
cia
NEW HIRE NEW HIRE
Sandy Mendler Trevis Schuh

lu
Education Practice Area Leader VP of Customer Engineering

Gensler
START OFF WITH ThousandEyes
se
Sandy Mendler joins Gensler as Customer success veteran
A $50 CREDIT
the Regional Education Practice Trevis Schuh has joined the
Area Leader. A nationally ThousandEyes management team
recognized architect, planner as VP of Customer Engineering
and design industry thought to ensure unmatched customer
leader, Sandy creates innovative Announce new employees, promotions & individual satisfaction in post-deployment
new models for buildings, accolades to San Francisco’s most influential support and services. Prior to
campuses and neighborhoods. business audience at: joining ThousandEyes, Schuh
Her projects include dynamic served as VP of Global Operations
workplaces for collaborative research and student centered, sanfranciscobusinesstimes.com/potm at Nextiva. He also served in senior global leadership roles at
experiential learning. Through writing, public speaking and Zscaler, Procera Networks, Meru Networks, and Trapeze
projects, she is a passionate advocate for design that meets To claim your $50 credit or get help, please contact Networks, where he delivered superior customer service on
the urgent challenges of health, climate and equity. James Beckner: a global scale.
[email protected] or 415.288.4930
TO SUBMIT YOUR INFORMATION: James Beckner | [email protected] | 415.288.4930

Co
py
rig
ht
©
20
20
Am
er
ica
Dear Friends,
n Ci
ty
We miss you. Your warm conversations, your noisy

Bu
outbursts, your howling laughter. We miss our

front-row seat for your inspiring speeches, calls
sin
for action, entreaties for donations, warm words

es
for retiring employees, your investment tips and

sJ
business strategies. We miss the tall tales circulating

in the Credo dining room during the lunch rush, the
ou
office gossip we didn’t need to hear, the jokes, the

rn
braggadocio, the thoughtful musings. We long to

als
hear the tinkle of our own glassware, the clashing of

utensils, the rattle of moving chairs.
-N
ot
You don’t need another letter about what it’s like

“in these uncertain times.” Just know that we’re
for
thinking about you. We hope you are safe and

co
healthy in your homes, keeping the virus far away

mm
from yourself and your loved ones. Although we’re

apart, know that we mourn your losses and toast
er
your fallen friends and family.

cia
We’ll see you from six feet away when the coast clears.
lu
You’ll look dynamite in your custom mask.

se
Until then, remember that we’re still here, ready to

serve you.
Warmly,
The Julia Morgan Ballroom, Credo Restaurant, the

Merchants Exchange Club and the rest of us at
Clint Reilly Landmark Properties.

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STRUCTURES INNOVATION EXEC PROFILE

EMPTY COUNTING GAME

PAGE 6 PAGE 12 PAGE 50

BAY AREA BIOTECH

out new ways

TOP BIOPHARMAS, BIOTECHS, AIRLINES PAGES 36-45

SAN FRANCISCO BREAKING NEWS ONLINE

Vol. 34, No. 45, $10.00 ON FACEBOOK, TWITTER AND INSTAGRAM

BAY AREA BRIEF

peared in the SFBT,

Editor Jim Gardner.

news: Sports — as a vaccine is September. The be hiring. Transit Center,

events throughout around the same open. startup, CEO investigation

calendar and specs

The Real Estate Deals of the Year

San Francisco Business

120 W. Morehead St., broker for VF Outdoor HQ / Abbott $842B

Ray Shaw, Chairman • Architect Mark Hornberger was

$575B $562B $561B

The entire contents of this

San Francisco Business

Business Journal Publica‑

content in any manner is

BAY AREA BRIEF

FACE TIME been working in architecture since

the larger culture.

How has Covid affected your

"essential service" of affordable hous-

productive, although no doubt we

"traditional office" will be more im-

man, Board of Supervisors represen-

city department of public health

[email protected] Council of San Francisco

More than 100 members of a new RR Joe D’Alessandro, CEO of SF Travel

RR Rick Welts, president and CEO of

smaller groups over the last month

city businesses as they reopen and

recover following the Covid-19

RR Lynn Mahoney, president of San

a report on policy recommenda- recommendations on reopening

BAY AREA BRIEF

LIFE AFTER COVID

Air travel’s new normal

MONEY CHASE THE POWER OF THREE: EVENT

CENTER OFFICE PARTNERS LLC

Alexandria Real Estate Equities

Big score for Uber, Owns:

on Mission Bay offices

ownership over 1 million

percentage it square feet,

secured construction loan with an

lion as of March 31. The new loan, Owns: Other

Uber has rented

financing, cover a required opera- $136M both buildings,

WORKING IN THE AGE OF CORONAVIRUS

BY CAROLYN M. PROCTOR through this page to see the heavy toll.

MARCH 1-31 APRIL 1-30 MAY 1-10

March 15: CDC advises

1.50 more people top 3.9 million