July 18, 2018 Comments (0) Views: 1411 Biotech, Biotech Briefing, Blog

Biotech Briefing: Companies With Skilled Foreign Workers Are More Innovative and Profitable

Plus: San Marcos-based Ocean Reef Group’s diving masks saved lives in Thailand cave rescue

Reports + Research

Companies That Hire Skilled Foreign Workers Are More Innovative, Profitable

A study conducted by UC San Diego researchers shows that companies with higher rates of H-1B visa holders created more new products that in turn grow revenue. The Times of San Diego reports that this study also referenced earlier research that demonstrated a link between immigration flows and increased patenting.

Ocean Reef Group’s Diving Masks Saved Lives in Thailand Cave Rescue

San Marcos-based Ocean Reef Group donated full-face dive masks that were used to rescue a youth soccer team and coach trapped in a flooded cave in Thailand. The story dominated news headlines for weeks as rescue plans were put in place. Ocean Reef Group’s special dive masks can fit children, and the full-face mask does not require a regulator that supplies air, making it easier for those not trained in scuba.

ResMed and Verily Partner to Treat Sleep Apnea

ResMed and Verily, a subsidiary of Google parent company Alphabet, have formed a new joint venture to develop software for identifying, diagnosing, and treating sleep apnea and other breathing disorders, reports San Diego Business Journal. In addition to developing software, the independent group will also study the health and financial impacts of undiagnosed sleep apnea.

Healthcare and Biotech Led Largest Quarter of Venture Capital Fundraising Since 2001

Two independent surveys reported that the last quarter of venture capital fundraising in San Diego was the largest since 2001. According to MoneyTree, 34 startups raised $590 million in the second quarter of 2018. Dow Jones VentureSource reported that 29 firms raised $706 million. Either way it’s a lot of money. The San Diego Union-Tribune provides more details on companies and sector breakdowns.

Read + Listen

POW! Podcast of the Week

Scripps Research Professor Floyd Romesberg, Ph.D., explains why expanding DNA’s alphabet (by half!) is a big deal in the After On Podcast.

Events

It’s Happening Here

July 26
The Southern California Biomedical Council will host the SoCalBio Networking Forum: Future of Nucleic Acid Medicine on Thursday, July 26 from 4 p.m. to 7 p.m. in Duarte, California.

August 1
The San Diego Biotechnology Network (SDBN) will host the SDBN Summer Synergies Speed Networking on August 1 from 5:30 p.m. to 9 p.m. at the Karl Strauss Tasting Room.

Client disclosure: Synthorx