Coronavirus Updates: Virgin Orbit Gets OK on Ventilators, Curative Signs Pact With Air Force

Coronavirus Updates: Virgin Orbit Gets OK on Ventilators, Curative Signs Pact With Air Force

Here are the latest headlines regarding how the novel coronavirus is impacting the Los Angeles startup and tech communities. Sign up for our newsletter and follow dot.LA on Twitter for the latest updates.

Today:

  • Curative signs pact With Air Force to deploy COVID-19 tests
  • Sir Richard Branson's Virgin Orbit gets FDA approval on new ventilator design
  • New report quantifies Q1 loss of L.A. filming days from COVID shutdown

    New figures show COVID shutdown cut L.A. filming by 18% in Q1, set to free-fall

    images.pexels.com

    A new report from Film LA released Thursday reveals that filming days in L.A. in the first quarter of this year were down 18% compared to the same period last year. That number will plummet next quarter due to a county-wide filming moratorium that began on March 20.

    In its forecast for Q2, Film LA has assumed the earliest date that filming could resume is June 1st -- and even then, only for small projects that can adhere to social distancing. Even if this scenario occurs--which FilmLA VP of Communications Philip Sokoloski admitted is optimistic--analysts already forecast that the shooting days lost this year so far are unrecoverable.

    The timing of the shutdown is particularly bad for pilot season, which typically runs from February through May. In Q1, television took the largest hit, seeing a 20.6% decline in filming days. Feature film shoots fell 6.9%, while commercial shoots fell 12.5%. Reality shows, however, did see a Q1 uptick, of 11.7%.

    Sir Richard Branson's Virgin Orbit gets FDA approval on new ventilator design

    upload.wikimedia.org

    Sir Richard Branson's Virgin Orbit received approval from the U.S. Food and Drug Administration to begin immediate delivery of a new "bridge" ventilator designed and built by the satellite launch company. The Long Beach-based space company was given clearance through the FDA's Emergency Use Authorization, and expects to begin delivering ventilators to hospitals within the next few days.

    "Virgin Orbit has leveraged its extensive engineering design, manufacturing, and operational capabilities to quickly design a novel ventilator, test prototype units, and ramp up production of these devices," the company said in a statement.

    The device has been funded entirely by Virgin Orbit, and is a simple ventilator that's driven by a windshield-wiper motor. Physicians believe it can be used as a stop-gap solution until patients are able to be put on a standard ventilator.

    Curative signs pact With Air Force to deploy COVID-19 tests

    COVID-19 testing startup Curative and aerospace accelerator Gothams have signed an agreement with the U.S. Air Force to deploy its FDA-authorized oral fluid tests and comprehensive testing service to military personnel around the world.

    "Broad testing is critical to our nation's ability to understand the COVID-19 pandemic, maintain operational readiness and restart the American economy," the companies said in a statement.

    In this initial agreement, Curative will rapidly establish a new laboratory facility, fully operational this week, which will process up to 50,000 tests per day for the presence of COVID-19. In future phases of this agreement, Curative will establish eight testing locations across the U.S. to support testing for the U.S. population.

    Curative has processed 75,000 tests amounting to about 20% of those administered in California, according to a spokesperson for the company.

    Turner set up shop in a San Dimas lab in March and became an unsung hero in the battle to combat coronavirus in Southern California when he turned the focus of his company, originally meant to detect sepsis, to the pandemic. As part of this agreement with the Air Force, each Curative lab will have a daily capacity to examine 50,000 tests per day. Currently Curative has the capacity to scale to a network of 10 labs across the country for a total of 500,000 tests per day.

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    LA Venture: Technology Crossover Ventures’ David Zhang On His Approach to Investing

    Minnie Ingersoll
    Minnie Ingersoll is a partner at TenOneTen and host of the LA Venture podcast. Prior to TenOneTen, Minnie was the COO and co-founder of $100M+ Shift.com, an online marketplace for used cars. Minnie started her career as an early product manager at Google. Minnie studied Computer Science at Stanford and has an MBA from HBS. She recently moved back to L.A. after 20+ years in the Bay Area and is excited to be a part of the growing tech ecosystem of Southern California. In her space time, Minnie surfs baby waves and raises baby people.
    LA Venture: Technology Crossover Ventures’ David Zhang On His Approach to Investing
    courtesy of David Zhang

    On this episode of the LA Venture podcast, Technology Crossover Venture (TCV) Partner David Zhang discusses his approach to investing.

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    SVB: What Startup Founders Could Expect From the Market in 2023
    SVB Private CIO Shannon Saccocia. (Photo via Cameron Rice)

    The economy is reeling from inflation. Supply chains are dislocated. The effects of the pandemic linger as the economy dips toward a recession. Caught in the middle of it all, startups and companies of all sizes are scrambling to react.

    But what does all this mean for startups and founders? As chief investment officer of SVB Private, Shannon Saccocia spends her time helping startups, founders and executives make sense of economic conditions. During a fireside chat in January, Saccocia broke down the factors leading to the market downturn, outlined what to expect moving into 2023, and estimated which industries might prove to be a dark horse.

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    Roy Swan on How the Ford Foundation Looks at ‘The Nexus of Capital and Society’

    Spencer Rascoff

    Spencer Rascoff serves as executive chairman of dot.LA. He is an entrepreneur and company leader who co-founded Zillow, Hotwire, dot.LA, Pacaso and Supernova, and who served as Zillow's CEO for a decade. During Spencer's time as CEO, Zillow won dozens of "best places to work" awards as it grew to over 4,500 employees, $3 billion in revenue, and $10 billion in market capitalization. Prior to Zillow, Spencer co-founded and was VP Corporate Development of Hotwire, which was sold to Expedia for $685 million in 2003. Through his startup studio and venture capital firm, 75 & Sunny, Spencer is an active angel investor in over 100 companies and is incubating several more.

    Roy Swan on How the Ford Foundation Looks at ‘The Nexus of Capital and Society’

    On this episode of Office Hours, Ford Foundation’s Director of Mission Investments Roy Swan talks about his journey into philanthropic investing.

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