Zenefits Strife Emblematic Of Larger Disconnect Between Silicon Valley, Health Industry
While Silicon Valley tends to focus on quickly revolutionizing industries, success in the health care sector hinges on more mundane matters -- such as getting the appropriate licensing for selling insurance. In other health technology news, a biotech firm will partner its drug with others to boost its potential to fight cancer, and digital ventures are looking to offer consumers the cheapest options utilizing price-comparison apps.
The Washington Post:
What The Turmoil At Zenefits Reveals About Silicon Valley’s Big Problem With Health Care
Zenefits was reportedly one of the fastest-growing companies in Silicon Valley, a region famous for giving birth to companies that undergo tremendous growth spurts. The startup, which distributes free administrative software to businesses and works as a health insurance broker, was dealt a serious blow last fall when a BuzzFeed News investigation revealed that the company had not been obtaining licenses necessary to sell insurance in individual states. ... Zenefits is just the latest example of a high-flying startup trying to revolutionize the health-care space, only to discover along the way that Silicon Valley's philosophy of disruptive innovation can be more difficult to apply to health care than in the digital world. (Johnson, 2/9)
The San Francisco Business Times:
With $50M Round, Peninsula Biotech Bets On Next Generation Cancer Drug Combos
Armed with $50 million from the former Google Ventures, Celgene Corp. and others, a young Redwood City biotech company is aiming to pair its drug with other drugs that rev up the immune system to destroy cancer cells. [ARMO BioSciences Inc.'s] lead drug, called AM-0010, has shown promise as a potential standalone therapy, said President and CEO Peter Van Vlasselaer. But its real power, he said, is combining it with other drugs that reset the immune system to attack a wide range of cancers. (Leuty, 2/10)
The New York Times:
Taming Drug Prices By Pulling Back The Curtain Online
Americans have come to rely on their smartphones to help them do seemingly everything, like hailing a taxi and comparing prices of dog food. But when it comes to buying prescription drugs, consumers still find the process maddeningly antiquated. Now, a few entrepreneurs say they are aiming to fundamentally change the way people buy drugs, bringing the industry into the digital age by disclosing the lowest prices for generic prescriptions to allow comparison-shopping. (Thomas, 2/9)