From John: White City News Maintenance

WhiteCityNews will be down for maintenance starting August 28th. We will be back after the Labor day holiday. You will still be able to access the community calendar and job board during this period, www.thewhitecityevents.com. I have some exciting projects and pieces in the works, can’t wait to continue to feature the companies, entrepreneurs, leaders and issues fueling our community this fall.

ARCH Venture Partners builds massive $400M fund

ARCH Venture Partners, one of the largest U.S. technology venture firms investing in the development of seed and early-stage advanced technology companies, today announced that its eighth venture fund closed with more than $400 million in subscriptions. ARCH Venture Fund VIII exceeded its $250 million subscription target by more than $150 million.

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Steve Blank’s advice on what it takes to be a life sciences lean startup

Originally posted on MedCity News by 

What’s the difference between an extrovert and introvert in the world of principal investigators? Answer: Are they staring at your shoes or their shoes? The joke Steve Blank told during a fireside chat hosted by NYCBio illustrates the uphill challenge SBIR grant applicants face when they’re asked to break away from the insulated world of the academic community and expose their ideas to the unflattering light of skeptical customers, tough love mentors and cynical investors.

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FDA simplifies process for novel medical devices

Truly innovative devices that do not have a “substantially equivalent” predecessor are automatically lumped into Class III, reserved for high-risk devices, and need a costly clinical trial to gain approval. But not all new products are high risk. To fix this barrier to innovation, FDA created the de novo approval pathway in 1997, enabling applicants to apply for approval as low- or moderate-risk devices.

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Y Combinator is Activly Recruiting Health-Tech Startups

(Reuters) – What do Dropbox, Stripe, Airbnb and Reddit have in common? These technology firms all received mentorship and money from Silicon Valley’s so-called startup machine, Y Combinator.

Now, for the first time in its nine-year history, the accelerator program is actively recruiting health-technology startups. To attract top talent in healthcare and biotech, Y Combinator recently tapped medical executive Elizabeth Iorns as a part-time partner.

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