Plus, meet Tek's new president

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Portland Inno

Feb.01,2023

 
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First Off

The Westside Pitch competition is back and venture catalyst Laura Kubisiak is taking applications. The event is in March, but the deadline to apply is Jan. 31. 

 

The Big One

Absci's AI

Vancouver biotech Absci Corp. (Nasdaq: ABSI) is getting on the generative AI train. PBJ reporter Elizabeth Hayes talked with Absci CEO Sean McClain about how the company is using this kind of AI technology to drastically reduce the time it takes to get a novel drug into the clinic. 

 

Generative AI is artificial intelligence that can create something new and doesn’t just analyze existing data. Over the last year the technology has made a splash with text to image tools like DALL-E-2 or Lensa or the recent release of text generator ChatGPT. 

 

“It’s the same type of principle or idea applied to drug discovery, in our case, going from (disease) target to drug all at the click of a button,” McClain said. “What this is enabling is going from a paradigm of drug discovery where you’re searching for a needle in a haystack to where we’re creating the needle, the drug candidate, and doing this in zero shot.” 

 

Zero-shot is the type of machine learning that Absci is using for this generative AI. 

 

Here’s how Liz puts it: In other words, the model hasn’t seen the target or anything similar, and yet it can generate a drug candidate from scratch that can bind to the target. Keep reading. 

Making Moves

Permission to have fun

That’s what Puffin Drinkwear gives consumers, said interim CEO Scott Allan. I caught up with Allan, who is the former CEO of Hyrdo Flask, earlier this week to hear about why he is taking the helm for the Bend startup while it searches for a permanent leader. Keep reading.   

 

PE + medical practices

Another dispatch from PBJ health care reporter Elizabeth Hayes this week is about an OHSU study that examines what happens when private equity buys medical practices. Hint: it affects the composition of professionals who deliver care. Keep reading.   

     

Talkin' Tek

This week Tektronix — the company that helped root technology into Oregon’s economy — named a new leader. The company is owned by industrial conglomerate Fortive Corp but it still has 3,000 global employees and a campus in Beaverton. I caught up with new president Chris Bohn. Keep reading in the PBJ.    

   

In the Know

Important stories from around the community. PBJ stories require PBJ subscription.

  • OSU snags $4.8M grant for cybersecurity programs [Inno]
  • PreAct Technologies lands $14M Series B [Inno]

  • Under pressure: Portland founders and the mental toll of entrepreneurship [Inno]
  • Dutch Bros sales could top $1B this year, CEO says [PBJ]

  • Gov. Tina Kotek orders state to nearly double per-year homebuilding [PBJ]

Elsewhere in Inno

Stories from around the Inno network we think you'll dig.

  • These are Seattle Inno's 23 startups to watch in 2023 [Seattle Inno]

  • Apptio acquires Austin cloud cost company Cloudwiry [Seattle Inno]

  • Think your tech boss is underpaying you? New website may offer proof [Bay Area Inno]
  • Renewable energy startup Caban Systems raises $50M Series B [Bay Area Inno]

  • Layoffs at Cart.com are the latest sign e-commerce is cooling [Austin Inno]

In the Community

The events and happenings to know in the ecosystem. Got an event? Let us know!

January
11

PDXWIT & Dress for Success Present: What Do You Mean I Can Get Into Tech?

January
12

EO Talks: Experience, Shared

January
12

Climate Curious x PSU

January
18

Coffee w/ Co-Founders @ Electrica Coffee

January
19

January Power Breakfast: Nancy Lebold, CEO New Seasons Market

January
19

PIG Squad Social & Speed Meet

January
24

Confessions of an Entrepreneur w/ Allie Magyar, after the exit

January
29

PBJ 2023 Women of Influence Awards nomination deadline

January-February
30-9

PIG Squad: Portland Global Game Jam

February
9

Pitch Oregon

February
25

University of Oregon Executive MBA Alumni network: Duck Tank

Inno Info

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Please contact sales@americaninno.com for more information and sponsorship opportunities.

 

Have a tip or scoop? Feel free to submit it anonymously.

 

Meet the Author:

 

Malia Spencer: mspencer@bizjournals.com or @PDXBizMalia on Twitter

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