
L.A. Venture Capital Firm MarsBio Scrambles to Secure Cash, Resources for Coronavirus Vaccines, Test Kits
Rachel Uranga covers the intersection of business, technology and culture. She is a former Mexico-based market correspondent at Reuters and has worked for several Southern California news outlets, including the Los Angeles Business Journal and the Los Angeles Daily News. She has covered everything from IPOs to immigration. Uranga is a graduate of the Columbia School of Journalism and California State University Northridge. A Los Angeles native, she lives with her husband, son and their felines.
The terrifying stories of Italian doctors running low on respirators as COVID-19 patients overwhelmed hospitals inspired Joe Wilson, a partner at bioscience venture capital fund MarsBio, to create a way to quickly fund new coronavirus' vaccines, testing kits and other lifesaving ideas.
Over the last week, the fund launched by Soylent Nutrition co-founder and biohacker Rob Rhinehart, has fielded more than a dozen calls and made connections with startups and scientists that have ideas about how to quickly combat the spread of the deadly virus.
One of those known as Curative Inc., led by Fred Turner, has already set up shop in San Dimas and is now ramping up production of testing kits thanks to the connection.
"The stories felt like they couldn't possibly be real as they were so horrific, and yet they kept coming," Wilson said. "There are crises all the time, but I felt like this is one that we can do something and contribute to."
This week, MarsBio posted a call for proposals to those working on research or an idea that would combat the fast-spreading virus, particularly through vaccine development, public safety and prevention, treatment and operational response. The effort is not a venture fund, rather the group is looking for backers for individual projects that can address the pandemic.
"We think we can have a pretty big impact and we are seeing it already," he said.
The idea behind the group is to vet those ideas that can make the highest impact and then help them get funding — whether it be through grants, government, individuals or other sources like connecting them with operational help.
"Even a million dollars from these sources could have an outsize impact on COVID-19 outcomes," Wilson said.
Earlier this week, Bill & Melinda Gates Foundation announced a $125 million effort with Wellcome and Mastercard to form the COVID-19 Therapeutics Accelerator, to find potential treatments. The firm hopes to tap into that new wave of new funding, as the world scrambles to stem the crisis and businesses search for solutions.
To vet the ideas, MarsBio will be bring on other academics, scientists, epidemiologists, clinicians and people outside the firm's core expertise.
"We take a very science-first lead," said general partner Llewellyn Cox, founder of LabLaunch which helps connect early state companies with lab space.
All the partners are trained scientists and entrepreneurs, noted Cox, who holds a doctorate in molecular and cell biology. And the firm, which backs early-stage bioscience companies in Southern California, boasts deep connections in Southern California's lab community.
Through those contacts, Cox put Curative in touch with KorvaLabs, where the Bay area company is now accelerating production of saliva test kits for the novel coronavirus. And the firm is helping Curative raise $800,000 and bulk up its workforce as the company ramps up their output.
"The best case scenario is we put a lot of time and energy into this, we highlight some really good ideas. It turns out to be less of an impact than you expect," Wilson said. "We don't think that's gonna happen. We think it is going to be bad. Hopefully, we can provide some scientific and some some operational support to make life a little bit easier."
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Streaming has dramatically changed how consumers view Hollywood and hear music as theatrical release windows shrink and social media replaces radio and television as a source of music discovery.
In our latest Strategy Session, dot.LA spoke with three talent representatives about how new platforms, models and the pandemic are shifting the ways artists reach their audiences, and what might be in store for the future.
Troy Carter, Founder and CEO of Q&A
Troy Carter, Founder and CEO of Q&A
<p>Troy Carter is the founder and CEO of Q&A, a technology and media company focused on powering the business of music through distribution, services, and data analytics. Formerly, Troy was the founder and CEO of Atom Factory, where he rose to prominence, nurturing the careers of global superstars including Lady Gaga and John Legend. He most recently served at Spotify as its global head of creator services, overseeing the company's growth strategy for artists and record labels. In 2017, Carter was also named entertainment advisor to the Prince Estate. </p><p>His interest in the intersection of technology and culture resulted in the formation of AF Square Investments. Early investments include Uber, Lyft, Dropbox, Spotify, Warby Parker, theSkimm, Blavity, Gimlet Media, Thrive Market, PlayVs, and FazeClan. Troy currently serves as a trustee for The Aspen Institute, Los Angeles County Museum of Art, and CalArts.</p>Jim Meenaghan, Co-Head of the Independent Film Group and Head of Business Affairs - Motion Pictures
Jim Meenaghan, Co-Head of Independent Film Group and Head of Business Affairs, Motion Pictures
<p>As co-head of UTA Independent Film Group, Meenaghan is actively involved in structuring and negotiating film financing and distribution deals for independent films across all media. Meenaghan also oversees day-to-day business affairs operations for the motion picture departments across the agency and works closely with many of UTA's high-profile clients including Wes Anderson, Joel and Ethan Coen, Drew Goddard and Noah Baumbach.</p><p>Prior to joining UTA, Meenaghan served as executive vice president of Anschutz Film Group/Walden Media ("The Chronicles of Narnia," "Charlotte's Web," "Ray"<em>) </em>and was in charge of all aspects of the company's business and legal affairs. Prior to that, he was senior vice president, business affairs at Icon Productions ("What Women Want," "We Were Soldiers," "Passion of the Christ"<em>). </em></p>Rena Ronson, Partner and the Co-Head of the Independent Film Group
Rena Ronson, Partner and Co-Head of the Independent Film Group
<p>Rena Ronson is a partner and the co-head of the Independent Film Group at leading global talent and entertainment company United Talent Agency (UTA). One of the industry's pre-eminent packaging and finance executives, Ronson specializes in global film finance, distribution and marketing strategies for independent and co-financed features, helping the world's most acclaimed independent filmmakers see their work reach global audiences.</p><p>Throughout her career, Ronson has helped package, structure financing for, and sell numerous high profile films, including Oscar-winning "I, Tonya," "Room" and "Icarus," and Oscar-nominated films, "Hidden Figures," "The Big Sick," "Lady Bird," and "Call Me By Your Name," among many others. She is also known for working with acclaimed filmmakers on their directorial debuts, including Greta Gerwig's "Lady Bird," Haifaa al-Mansour's "Wadjda," Don Cheadle's "Miles Ahead," Marielle Heller's "Diary of a Teenage Girl," Jill Soloway's "Afternoon Delight," Crystal Moselle's "Skate Kitchen," and Emerald Fennell's "Promising Young Woman." Additional upcoming films include "The Father" starring Anthony Hopkins and "The Mauritanian" starring Tahar Rahim, Jodie Foster, and Benedict Cumberbatch.</p>Kelly O'Grady, Chief Host and Correspondent
Kelly O'Grady, Chief Host and Correspondent
<p>Kelly O'Grady is dot.LA's chief host & correspondent. Kelly serves as dot.LA's on-air talent, and is responsible for designing and executing all video efforts. A former management consultant for McKinsey, and TV reporter for NESN, she also served on Disney's Corporate Strategy team, focusing on M&A and the company's direct-to-consumer streaming efforts. Kelly holds a bachelor's degree from Harvard College and an MBA from Harvard Business School. A Boston native, Kelly spent a year as Miss Massachusetts USA, and can be found supporting her beloved Patriots every Sunday come football season.</p>Sam Blake, dot.LA Entertainment Reporter
Sam Blake, dot.LA Entertainment Reporter
<p>Sam Blake is dot.LA's entertainment reporter. Prior to joining dot.LA, he had a writing fellowship with The Economist, where he wrote primarily for the business and finance sections of the print edition. Sam previously interned at KCRW and hosted a podcast at UCLA's college radio station while completing his dual-degree MBA and Master's in Public Policy. A native of Detroit, Sam previously lived in Madison, Wisconsin and New York City. He studied history at the University of Michigan and speaks four languages.</p>- Are Livestream Concerts Music's Future or a Pandemic Fad? - dot.LA ›
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On this week's episode of Office Hours, you'll hear from Steven Galanis, founder and CEO of Cameo, which offers a marketplace of celebrities that will record a custom-crafted message for a fee.
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