The clean examine firm is named CM Life Sciences III Inc. and listed on the NASDAQ beginning April 7. The SPAC is concentrating on firms in “three separate areas of the life sciences industry that are often fragmented — life sciences tools, synthetic biology and diagnostics.”
In an electronic mail to GeekWire, Chad Robins mentioned his and Harlan’s involvement is “completely independent” from Seattle-based Adaptive Biotechnologies, which went public via a traditional IPO in 2019.
The brothers turned concerned by means of their reference to Eli Casdin, a long-time Adaptive Biotechnologies investor and founding father of Casdin Capital. He is a sponsor and CEO of the new SPAC, which is the third clean examine firm from Casdin Capital and Corvex Management. The second has a merger settlement with proteomics platform SomaLogic, and the primary has an settlement with genomic platform Sema4.
SPACs have surged in recognition since final yr, with 308 SPAC IPOs already accomplished in 2021, together with numerous life sciences and healthcare-related SPACs. Seattle-based Nautilus Biotechnology in February decided to go public via a SPAC led by Arya Sciences Acquisition Corp III.
“SPACs provide an alternative fundraising path that is a good option for a certain company profile,” Chad Robins mentioned. “The quality of the sponsor and the target company profile matters.”
Matthew Kennedy, senior IPO market strategist with Renaissance Capital, mentioned it isn’t unusual for public firm executives to join a SPAC board. He pointed to execs from QuantumScape and Uber becoming a member of Khosla Ventures Acquisition.
Kennedy mentioned it may be worrisome when a administration staff at an organization set to go public has too many board obligations, or conflicts of curiosity with different related firms.
“If a CEO is sitting on five other boards, even if there’s no conflict, that would still be a distraction,” he famous. “However, while it may not be ideal, I think sitting on just one other board is common enough that we don’t ‘ding’ management much for it.”
In addition to serving as CEO of Adaptive Biotechnologies, Chad Robins is presently on the boards of AltPep, Headlight, Life Science Washington, and AdvaMedDx. Harlan Robins is chief scientific officer at Adaptive Biotechnologies and was previously head of the computational biology program on the Fred Hutchinson Cancer Research Center.
— Seattle-based schooling know-how firm Promethean promoted Lance Solomon to chief product officer. He joined Promethean in 2018 and was most lately government vice chairman of operations.
Prior to Promethean, Solomon was director of provide chain and procurement for Amazon Web Services and beforehand VP of provide chain at Logitech.
“Through my time leading operations and our customer success program, I’ve been fortunate enough to understand how Edtech must operate from a school and district point of view,” mentioned Solomon. “I look forward to further developing our product strategy to fit the needs of education teams, driving student engagement, and success.”
Solomon takes over from Steven Halliwell, who lately departed and is now VP of worldwide gross sales at location information platform Mapbox.
— Longtime schooling know-how advisor Frank Catalano has joined Santa Barbara, Calif.-based ParentSquare as chief advertising and marketing officer. He is predicated in Seattle.
Founded in 2011, ParentSquare is an engagement platform for Okay-12 college students utilized by faculty districts, educators and households. The firm additionally lately appointed former Amazon Web Services Okay-12 Education Leaded Chad Stevens as chief technique officer.
Catalano can be a former GeekWire contributor protecting schooling know-how, tradition, science fiction, the humanities, and the confluence of media & know-how.
— New Tech Northwest Founder Brett Greene joined blockchain software program improvement platform R3 as advertising and marketing lead of worldwide developer relations. Based in New York, R3 was based in 2014 and its software program is used to facilitate blockchain networks within the finance, insurance coverage and banking industries.
Greene based the New Tech Northwest neighborhood in 2012 with Red Russak and beforehand ran the group full-time.
Known for its meetup occasions, New Tech Northwest moved its neighborhood actions on-line on the onset of the pandemic. The group plans to supply a hybrid of offline and on-line occasions sooner or later and lately appointed Wesley Yurovchak as advertising and marketing and neighborhood supervisor.