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PHOENIX (April 8, 2020) –– BioLab Sciences, a regenerative biotechnology company, today announced they are now distributing tests to detect antibodies specific to 2019n-CoV in humans. The test devices complete the screening using a blood sample from a finger prick and produce results in 10 minutes. 

“The rapid antibody test detects the presence of IgG and IgM antibodies from COVID-19 generally available in whole blood, serum or plasma after an infection,” said Carlos Encinas, PhD, Chief Science Officer of BioLab Sciences. “With healthcare agencies and providers experiencing shortages and testing delays for molecular tests, these rapid antibody tests are a mission-critical need for the community to determine who has been infected by the novel coronavirus.” 

BioLab Sciences has started distributing the test devices to healthcare agencies, hospitals, and outpatient facilities throughout the U.S. 

“BioLab Sciences’ goal is to help healthcare providers obtain the resources they need to detect COVID-19,” said Bob Maguire, CEO of BioLab Sciences. “These tests will help equip physicians and healthcare leaders with the data they need to make informed public-health decisions and help guide the community as we navigate our future with this virus.”

The test, which is already being used throughout Europe and Asia, is still pending review by the U.S. Food and Drug Administration (FDA). However, as of March 16, 2020, the agency issued guidance to allow rapid antibody tests under emergency-use authorization.  

“We look forward to working closely with healthcare providers and distribution partners to make these tests widely available,” said Jaime Leija, BioLab Sciences’ Chief Commercialization Officer. “In order to flatten the curve and mitigate infections in the future, it is critical to identify those who test positive for coronavirus exposure so they can take the right steps to quarantine and seek appropriate care from their physician.”

Testing with the COVID-19 IgG/IgM Rapid Test should only be performed in conjunction with other laboratory approved testing and/or clinical observations for the presumptive identification of viral infections in patients who may be infected with the novel coronavirus. All test results are presumptive and should be confirmed with an approved molecular assay. A presumptive negative test does not preclude the 2019n-CoV infection and should not be used as the sole basis for treatment or other patient management decisions. Conversely, a presumptive positive result does not rule out infections caused by other viruses.

About BioLab Sciences

BioLab Sciences is a regenerative medicine company focused on creating new ways to heal the body and identify health risks. Headquartered in Scottsdale, Arizona, BioLab Sciences is uncovering better ways to address orthopedic injuries, wound care, pain management, aesthetic medicine, respiratory ailments, cardiovascular indications, ophthalmic issues, and more. Learn more at www.biolabsciences.net/.

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Luckily, the world is filled with brilliant people who are jumping in to help make sense of all of this. Two such people are Jason Lemkin, CEO and Founder of SaaStr, and Nick Mehta, CEO of Gainsight, who demonstrated dexterity and agility by quickly pulling together a compelling webinar that examined the current state of events in comparison to the ’08-’09 downturn today. Find the full webinar here or scan below for some takeaways.

Thinking about the upstream

Start thinking about how far removed you are from those who are being hardest hit right now. (I.e. Even if you are not on the frontlines of serving the hospitality industry, do any of your clients provide software or other supplies to these businesses. How will that impact your business?

Tsunami’s on the other side of the world do eventually reach those around the world, but it’s not as intense for those far removed. Start analyzing the business to assess impact as well as areas of opportunity –– we’ll likely see upticks in healthcare, telecoms, etc.

Dealing with deal flow and navigating sales

New deals will likely be impacted. Some will dry up, others will just slow down. There are some COVID-19 deal freezes already.

People may not be willing to spend their money right now, but they may be willing to spend their time –– and some may be eager for a respite. Get them ready now so that when we come out of this downturn, you are top of mind. Now is not the time to let your foot off the accelerator, just the way in which you do it may change. Get people into your free trials and longer pilots, do more content marketing, etc. Get more and more exposed to your brand and offering whether they’re going to buy or not today. This will position you to dominate your market when we come out of this. 

This could be the catalyst for digital transformation. 

Scenario planning

Model several scenarios for sales. It’s likely new decisions and net new logo deals will be frozen. But there may be opportunities to expand with existing clients. There will still be a need for maintenance (i.e. no one will be in the market for a new car, but they will still need to maintain their existing one), especially with something that’s working. Some analysts predict we will see a lot of vendor consolidation with businesses. How can you position yourself to be the one they choose to roll up with. 

Flexing resources

Can you create more flex in your company? If you have teams that oversee events or sales, they likely have more time on their hands. But can sales pivot to support customer success or can those in charge of in-person events pivot to creating virtual events? 

Create connectivity

We need connectivity more than ever right now. Opt for daily Zoom huddles and get creative with these. Maybe some are done over a walk outdoors or bring your pet to Zoom day. Maybe have some fun with a show your best “business-on-the-top, work-remote-on-the-bottom” outfit. 

Fundraising

Lots of speculation here. Some predict the more successful VCs could be looking at this as an opportunity to double down and try to find the next unicorns. But it’s also predicted the funding landscape will become twice as hard and will take twice as long. The silver lining –– just like many of us have a little bit more time on our hands (thanks to no commute times and canceled events), it can be an opportune time to get facetime with VCs for virtual discoveries.

Igniting your team

Everyone on your team wants to help. Think about how you can give them the tools to support where they can. Get everyone connecting with customers –– not just the sales and customer success teams.

Predictions

SMB will likely experience the most churn. They’ll be the ones the quickest to cut their costs, but also quickest to readopt when things recover. Enterprise will likely hold steady for at least the next month to quarter. 

Final interesting point from Gainsight

“…usage is exploding across our customers in a way that it hadn’t in the last few months. We certainly don’t know why because we’re just seeing the data. But it seems kind of intuitively obvious that what’s happening [with COVID and working remote], is driving people to use SaaS more.”

People are using Zoom more than they ever have before. They’re using Salesforce more than they ever have before because they’re no longer able to walk down the hall to ask about the status of something, they’re just going in to look at the update for themselves. Knowing this –– how can you assist your customers in using their SaaS tools more efficiently?

The post How To Navigate Business When There Are So Many Unknowns appeared first on Wired PR.

WebPT is one such example of the powerful force tech has on a neighborhood according to Conor Dougherty of The New York Times, “If construction and subprime loans were symbolic of the state’s last boom, this time the image would be offices like WebPT, which makes software used by physical therapists and rehabilitation specialists to manage billing and medical information. Over the past decade the company has grown from a handful of people working out of subleased office space in coffee shops and architectural firms to a 500-person operation with headquarters in a downtown Phoenix industrial space that used to be a tortilla factory.”

Read more about how Arizona is a magnet for tech companies and employees alike in The New York Times.

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How do you successfully hire for fit without falling prey to monotony? Dr. Heidi Jannenga, co-founder and chief clinical officer of WebPT, shares some hiring strategies to help build inclusive, engaged, and dynamic teams in Conscious Company. 

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StartupAZ Foundation, the organization created to catalyze Arizona’s technology and innovation ecosystem by connecting and empowering entrepreneurs, has added three prominent leaders, Brenda Schmidt, Jim Prendergast, and Gregg Scoresby, to its board of directors. The organization has also opened applications for its spring StartupAZ Collective and will be expanding the program to include three new cohorts: healthcare, growth stage and scale stage. 

StartupAZ Foundation, which just received its 501(c)(3) nonprofit status, has been steadily growing its network of Founders in Residence (FIR), StartupAZ Collective alumni, and community partners. To help guide the organization’s growth, co-founder and interim CEO, Brandon Clarke and chairman of the board Tom Curzon, along with the nominating committee have been building the board of directors with individuals who are at the forefront of the Valley’s technology and innovation ecosystem. 

The three new board members, Brenda Schmidt, president of Coplex and founder and former CEO of Solera Health; Gregg Scoresby, founder and CEO of CampusLogic; and Jim Prendergast, CEO of 317 Ventures and founder of HealthiestYou (acquired by Teladoc), will help advise on programming and community initiatives, expand partnerships, and provide support to startup founders. 

“The individuals who make up the StartupAZ Foundation board are at the leading edge of Arizona’s technology and innovation community, yet they prioritize time to give back in this very generous way,” Clarke said. “Brenda, Gregg and Jim are tremendous assets to our outstanding board and we’re all looking forward to working together to usher in the next phase of growth for the organization and ecosystem at large.”    

“In the early days of CampusLogic, StartupAZ Foundation played an important role in our development,” Scoresby said. “The relationships I’ve cultivated through the StartupAZ Collective have supported our growth and I believe this wheel of generosity –– founders sharing lessons learned, providing mentorship, making connections for fellow founders –– is what will support the sustained growth of our Valley’s most promising tech startups. I’m looking forward to deepening my commitment to StartupAZ Foundation and the future generations of founders rising up through the ecosystem.”

StartupAZ Foundation will be recruiting for its spring StartupAZ Collective now through the end of March. There are three new cohorts: healthcare, which will include devices and wearables; growth-stage, those on the cusp of breaking through; and scale, those who’ve surpassed $5M to $10M in revenue. To be considered for the Collective, companies must have a scalable business model with an innovative, market-defining technology. For more details and criteria, visit https://www.startupazcollective.org. 

ABOUT STARTUPAZ FOUNDATIONStartupAZ Foundation formed in 2015, to empower a stronger statewide ecosystem for high-growth companies to scale, catalyzing Arizona’s new economy rooted in technology and innovation. The nonprofit organization exists to help Arizona’s most innovative startup companies improve their leadership, performance, and connections, while inspiring generosity and philanthropy within their communities. It does this through three primary pillars: connectivity, capital and talent. For more information, visit startupaz.org.

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Read more in Product Craft. 

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“After hundreds of interviews at companies of all sizes, I’ve lost count of the times a CEO has emphasized the simplest motivation for founding and building a company and a life in bio — not getting rich, but ‘helping people,” writes Wayne Koberstein of Life Science Leader. “I heard it once more from Maguire. It would be easy to wax cynical considering some less-than-convincing examples, but when someone leaves a secure life for an uncertain new one, something more than money must have moved him.”

Read more here.

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To help insurance companies deliver the level of engagement today’s consumers crave, Sonny Patel, founder and CEO of Insurmi, believes one of the most promising solutions lies in AI. Learn more about how AI can bridge the millennial insurance gap in Insurance Innovation Reporter here.

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