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Absci

Absci is a clinical-stage biopharmaceutical company headquartered in Vancouver, Washington that advances therapeutics designed with...

Facts

HQ
Vancouver, Wash.
Sectors
Biotechnology, Artificial Intelligence, Drug discovery
Stage
Clinical-stage

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The Collapse of Silicon Valley Bank

What was previously a point of pride on Silicon Valley Bank's website now reads like a warning sign: nearly half of U.S. venture-backed technology and life sciences companies bank with the financial institution. Financial regulators on Friday morning shut down Silicon Valley Bank and put it in the hands of the FDIC, a jaw-dropping move that has created a crisis for startup founders and their financial backers. Based in Santa Clara, Calif., Silicon Valley Bank has long been a key player in the Seattle region. GeekWire's reporting suggests that the percentage of tech startups in the Seattle area that used…

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