Athira Pharma
Facts
- HQ
- Seattle
- Sectors
- Biotechnology, Pharmaceuticals
- Employees
- 70
EIT Pharma, led by ex-Athira CEO Leen Kawas, raises $35M Series A to advance lonafarnib for chronic hepatitis D
Kirkland-based EIT Pharma, led by former Athira CEO Leen Kawas, raised $35 million in an oversubscribed Series A led by Propel Bio Partners to support FDA review, manufacturing and commercial preparations for lonafarnib as an oral treatment candidate for chronic hepatitis D. The FDA accepted EIT Pharma's New Drug Application for lonafarnib on Aug. 11; the drug was acquired from Eiger BioPharmaceuticals' 2024 bankruptcy sale.
Nautilus Biotechnology Lays Off 16% of Staff, Postpones Proteome Platform Launch to Late 2026
Nautilus Biotechnology laid off 16% of its workforce to extend its cash runway into 2027 and delayed the commercial release of its proteome analysis platform until late 2026. The company aims to control operating expenses and maximize its impact on biological science, focusing on proteomics to advance drug development.
Athira Pharma Lays Off 70% of Workforce, Cuts $13.4M Annually Amid Failed Alzheimer’s Trial and Restructuring
Seattle-based biotech Athira Pharma is laying off 49 employees, about 70% of its workforce, as part of restructuring and cost-cutting after unsuccessful Phase 2/3 trial results. The company aims to focus on its ALS treatment ATH-1105 and expects to save $13.4 million annually, with leadership changes effective October 1.
Madrona Adds Jeff Mills as Partner to Lead Silicon Valley Expansion; Nex Hires Former Walmart Execs; Amperity CEO Steps Down
Seattle venture firm Madrona hired Jeff Mills as partner to expand its Silicon Valley presence, while Nex appointed two former Walmart tech leaders, and Amperity's CEO Barry Padgett stepped down. Other Pacific Northwest tech industry moves include leadership changes at Zendesk and Cohesity.
Seattle Startup Cajal Neuroscience Raises $96M to Develop New Alzheimer's and Parkinson's Treatments
Seattle-based startup Cajal Neuroscience, founded in 2020, has raised $96 million to develop treatments for neurodegenerative diseases like Alzheimer's and Parkinson's by exploring diverse drug targets beyond amyloid-beta. The company aims to understand genetic variants' roles in disease mechanisms to identify key molecules involved in neurodegeneration.
Biogen and Eisai's Lecanemab Shows 27% Cognitive Decline Reduction in Major Alzheimer’s Trial, Boosting Seattle’s AltPep
Positive phase 3 trial data of Biogen and Eisai's Alzheimer’s drug lecanemab shows a 27% reduction in cognitive decline and renews hope in amyloid-beta targeting therapies. Seattle startup AltPep sees these results as supportive of its similar approach to detection and treatment.
UW spinout AltPep raises $44.4M as its Alzheimer’s blood test earns FDA breakthrough designation
University of Washington spinout AltPep raised $44.4 million and is developing experimental blood tests to detect Alzheimer’s and Parkinson’s diseases early, plus treatments; its Alzheimer’s test received FDA breakthrough device designation. The three-year-old Seattle startup has 25 employees, raised $23.1M in a 2021 Series A, is hiring, and is pursuing partnerships and clinical-ready development.
GeekWire Awards finalists highlighted as voting closes; virtual winners announced May 20
GeekWire's annual Awards event will be held virtually on May 20 after nearly 200 community nominations and over 6,000 reader votes; finalists are being highlighted for their rising positions on the GeekWire 200 ranking of Pacific Northwest private tech companies. Several finalists have 'exited' the ranking through IPOs or acquisitions, including Auth0, Accolade, Rover, and Sana Biotechnology, while others are not yet ranked.
GeekWire Opens Voting for 13th Annual Awards; Deal of the Year Finalists Include $6.5B Auth0 Acquisition and Multi‑Hundred‑Million Funding Rounds
GeekWire has opened community voting for its 13th annual GeekWire Awards, highlighting Deal of the Year finalists across Fundings and IPOs/Acquisitions from Pacific Northwest tech companies. Voting runs through April 30, winners announced May 20 at the virtual awards presented by Wave Business.
Former Microsoft Azure distinguished engineer Kushagra Vaid joins Eclipse Ventures as partner; Mary Shea named Outreach’s first evangelist
Multiple Pacific Northwest tech moves: former Microsoft Azure distinguished engineer Kushagra Vaid joined Eclipse Ventures as a partner and is advising Cyemptive Technologies; Athira Pharma appointed Barbara Kosacz to its board; Outreach hired former Forrester analyst Mary Shea as its first evangelist; and Microsoft Vancouver GM Edoardo De Martin left to become CTO at CubicFarm Systems.
SPACs Let Founders Reach Public Markets Faster and Keep Larger Equity Stakes, Say Startup Observers
The article explains how SPACs (special purpose acquisition companies) let founders and early employees reach liquidity faster and often retain larger ownership stakes than through later-stage VC or private equity rounds. Using examples like Sana Biotechnology and Seattle entrepreneur Sujal Patel, it argues SPACs can preserve founders' equity by bypassing dilutive funding rounds.
Sana Biotechnology Raises $587.5M in IPO, Debuts on Nasdaq as SANA with $6B Market Value
Sana Biotechnology raised $587.5 million by pricing 23.5 million shares at $25 in its IPO and began trading on Nasdaq under ticker SANA, with shares jumping about 40% on debut to close at $35.10. The 3-year-old Seattle gene-editing company, pre-revenue and led by former Juno executives, aims to use the proceeds to advance gene and cell therapies—including cancer treatments—and may file drug applications as early as 2022.
AltPep, UW spinout led by Valerie Daggett, raises $23.1M Series A to develop early-detection and therapeutics for Alzheimer’s
Seattle biotech AltPep, spun out of the University of Washington in 2019 and led by founder/CEO Valerie Daggett, raised $23.1 million in a Series A to develop detection tools and preclinical therapies for Alzheimer’s and other amyloid protein diseases. The company’s technology, based on UW-licensed research into alpha-sheet protein structures, will support early detection efforts and expansion into a new 7,500 sq ft Seattle lab.
Sana Biotechnology files IPO to raise up to $150M, aims to trade as SANA while advancing in‑body gene and cell therapies
Sana Biotechnology, founded less than three years ago with no revenue, filed to go public on Nasdaq under ticker SANA seeking to raise up to $150 million while developing gene and cell therapies aimed at controlling or modifying genes and treating cancers. The Seattle-area startup has raised over $700 million in venture funding, held $459 million in cash and equivalents at September-end, but carries a $316 million accumulated deficit.
Porch Group (PRCH) Raises $322M, Debuts on Nasdaq with $1B+ Valuation After SPAC Merger
Seattle-based home services technology company Porch (now Porch Group) went public via a SPAC merger and private investment, raising more than $322 million and debuting with a market value above $1 billion at $15 per share. Founder and CEO Matt Ehrlichman marked the Nasdaq opening bell on Dec. 24, 2020, and the company will trade under ticker PRCH.
PNW Startups Raised $1.1B in Q3 2020 Across 65 Deals as Investors Keep Funding Amid Pandemic
Pacific Northwest startups raised $1.1 billion across 65 deals in Q3 2020, with funding in July and August exceeding last year’s levels as investors continue backing tech despite the pandemic.
GeekWire 200 CEO Survey: Most Seattle-Area Startups Report Little or No Pandemic Impact and Plan Hiring
A GeekWire 200 CEO survey of nearly 50 Pacific Northwest startup leaders found most report little or no negative impact from the pandemic, many plan to hire, and significant optimism about the regional economy over the next 18 months.
Athira Pharma raises $204M in IPO at $17/share, values company at ~$670M to advance Alzheimer’s drug NDX-1017
Seattle biotech Athira Pharma raised $204 million by selling 12 million shares in a Nasdaq IPO at $17 per share, valuing the company at about $670 million as it advances its lead Alzheimer’s therapeutic NDX-1017 into late-stage development.
Athira Pharma prices IPO at $17, sells 12M shares to raise $204M; will trade as ATHA on Nasdaq
Seattle biotech Athira Pharma priced its IPO at $17 per share, selling 12 million shares to raise at least $204 million and will begin trading on Nasdaq under ticker ATHA; the company is developing NDX-1017 for neurodegenerative diseases and has no commercial products yet. Founded in 2011 and led by CEO Dr. Leen Kawas, Athira reported net losses in 2019 and H1 2020 and has raised over $100 million privately, including an $85 million Series B.
Adam Schoenfeld’s Seattle Startup Hiring Tracker: 67% of 348 Seattle tech firms have openings, 2,620 roles; 42% grew headcount
A new Seattle Startup Hiring Tracker from entrepreneur Adam Schoenfeld shows 67% of 348 tracked Seattle tech companies have open roles (2,620 total), with 42% growing headcount month-over-month, 35% stable and 23% shrinking despite the pandemic.
GeekWire Awards 2020 Goes Virtual; Ally Wins Startup of the Year as Bill Gates and Celebrities Celebrate
GeekWire held a virtual GeekWire Awards livestream honoring top Pacific Northwest tech companies and leaders across 12 categories, with winners accepting via Zoom and special video messages from figures like Bill Gates. Seattle startup Ally won Startup of the Year, and the event included entertainment such as The Drunken Tenorperforming an "Opera di Zoom."
Pacific Northwest startups attract $2.3B in H1 2020 as Sana Biotech’s >$700M June raise boosts totals
Despite the pandemic and recession fears, Pacific Northwest startups attracted $2.3 billion across 135 deals in H1 2020, up from $1.1 billion in 94 deals in H1 2019; Seattle-based Sana Biotechnology’s >$700 million June raise heavily skewed totals but H1 2020 still topped $1.6 billion excluding that deal.
Athira Pharma raises $85M Series B to push NDX-1017 toward FDA approval for Alzheimer’s, Parkinson’s and ALS
Seattle biotech Athira Pharma raised $85 million in a Series B round to advance NDX-1017, a regenerative therapy aimed at halting or reversing nerve damage in Alzheimer’s, Parkinson’s and ALS, with preliminary trial results reported as positive and potential market availability in 2–3 years.
