washington business
Of Note
Fred Hutch Opens New Research Center to Test Treatments for Covid-19
The Fred Hutchinson Cancer Research Center has opened a new facility to test treatments for Covid-19 , GeekWire reports .
The Covid-19 Clinical Research Center is “ one of the first stand-alone facilities in the nation designed to test novel interventions to treat and prevent Covid-19 ,” the center reported .
Scientists and clinicians will partner with study volunteers , health care providers and others on clinical trials for participants who have tested positive for Covid-19 , GeekWire reports . And two studies are already underway , including one to evaluate remdesivir and another focused on REGN-COV2 , “ Regeneron ’ s investigational double antibody cocktail .”
Fred Hutch is one of many Washington institutions that have allocated major resources to fighting the coronavirus pandemic . Universities , national labs and health care providers are involved as well . Read more in the summer 2020 edition of Washington Business Magazine .
Nuclear Regulatory Commission Gives First-Ever Approval to Small Modular Reactor
NuScale Power has received design approval from the Nuclear Regulatory Commission for its small modular reactor , a historic first .
The approval allows NuScale Power ’ s customers to proceed with plans to develop its carbon-free plants to supply energy for electrical generation , district heating , desalination and other process heat applications . The company ’ s factory-fabricated modules can generate 60 megawatts of electricity using a smaller , safer and scalable version of pressurized water reactor technology . NuScale ’ s power plant design can house up to 12 individual modules .
Longtime AWB member Fluor Corp . is the majority investor in NuScale Power .
Athira Pharma Raises $ 204 Million in IPO , ‘ Big Milestone ’ in Fight Against Alzheimer ’ s
Seattle-based Athira Pharma debuted on the Nasdaq under the ticker ATHA earlier this year , raising $ 204 million at a price of $ 17 per share , which was at the high end of its range . Founded in 2011 , Athira is in late-stage development for a drug that could halt or reverse Alzheimer ’ s , Parkinson ’ s and ALS .
The company ’ s founder , Leen Kawas , is the first woman to lead a Washington company to a public offering since 1998 , GeekWire reports . AWB named Kawas inaugural Entrepreneur of the Year in 2016 . AWB also featured the company , known then as M3 Biotechnology , in the Grow Here campaign .
Pandemic Means Major Cost Increases for Child Care Providers
The coronavirus pandemic continues to challenge Washington ’ s remaining child care providers with significantly higher costs : “ Despite some additional funding appropriated by Congress through the Coronavirus Aid , Relief , and Economic Security ( CARES ) Act , providers are facing increased costs and decreased revenue ,” the Center for American Progress reports .
The cost of home-based family child care is now 70 % higher than it was before the pandemic , AWB Government Affairs Director Amy Anderson says . The cost of center-based child care that meets enhanced health and safety requirements is 47 % higher , on average .
The impact of child care has been previously highlighted by AWB as a major challenge for not just Washington families but employers and the overall economy . And factories are feeling the effects , The Wall Street Journal reports , as workers stay home to care for their children who would otherwise be in day care , or at school .
14 association of washington business