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|Articles - June 2010|
|Thursday, May 13, 2010|
Though it's true that Microsoft chairman Bill Gates met Richard Friesner, co-founder of the Portland-based scientific firm Schrödinger, while playing bridge, there's much more to Gates' recent $10 million investment in Schrödinger than a card game.
"That's something we can all smile about," says Shi-Yi Liu, vice president of marketing for Schrödinger, "but I think it's more fair to say that, as people get to know each other, there's a meeting of the minds and shared views about science and technology."
Founded in California in 1990 and relocated to Portland in 1995, Schrödinger specializes in pharmaceutical software that helps researchers simulate testing of drug compounds. The company, which tops the $20 million revenue mark, employs 140 people, including 40 in Portland.
Liu says the infusion, made through Gates' investment arm, Cascade Investment, will primarily help Schrödinger beef up its research and development staff. The end result: more accurate and better-performing software for new drug development.
Though some of the company's scientists are in Portland — along with the accounting, technical and scientific support and quality assurance departments — most research is done in Schrödinger's New York office, closer to scientific advisers and large commercial customers. That's likely to remain unchanged even with Gates' investment.
Because the drug development process can take more than 10 years and sometimes billions of dollars, Liu says there's not a specific drug that can yet be tied directly to Schrödinger. However, various companies have reached milestones in their drug development processes with Schrödinger's technology. Among its more well-known customers: Bayer HealthCare AG.
The Gates investment, Liu says, comes at an opportune time for Schrödinger and will ultimately provide researchers with more powerful tools in their search for new drugs. One such researcher: David Dawson, who is pursuing a cure for cystic fibrosis at Oregon Health & Science University.
"We're really making an investment in scientific research," Liu says. "We have many ambitious goals and we know where additional basic and advanced research efforts are needed. This investment will enable us to start to execute on that."
Wednesday, January 14, 2015
BY NISHANT BHAJARIA | OP-ED CONTRIBUTOR
Startups in the growth phase are associated with a fresh infusion of capital — human and financial — a curiosity factor and products to disrupt the market and drive demand. Portland’s economy gives off the same aroma.
Monday, January 26, 2015
BY AMY MILSHTEIN
Thinking about starting an internship program? Be careful. Navigating unpaid internships can be tricky.
Wednesday, January 07, 2015
BY LINDA BAKER | OB EDITOR
The Oregon Business Plan Leadership Summit drew more than 1,000 people to the Oregon Convention Center yesterday.
Monday, January 26, 2015
The day after this issue goes to press, the city of Medford will host its annual business conference. The event features Minoli Ratnatunga, co-author of the Milken Institute’s annual “Best-Performing Cities” report. Preliminary data suggests that Medford is likely to retain its No. 1 ranking among best-performing small cities for having a higher concentration of high-tech firms than the national average.
Thursday, December 18, 2014
BY JASON NORRIS | OB CONTRIBUTOR
The implosion of the energy complex: The best thing for low oil prices is low oil prices.
Sunday, December 07, 2014
BY LINDA BAKER
On Friday, Uber switched on an app — and with one push of the button torpedoed Portland’s famed public process.
Tuesday, January 27, 2015
Smartwatches are all the rage. But old-fashioned timepieces keep on ticking.
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