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'Time to pay up': Venture capitalists spar over Biden's plan to raise taxes


Time to pay up : Venture capitalists spar over Biden s plan to raise taxes
Cyrus Farivar
© Melina Mara
Image: Vice President Kamala Harris and Speaker of the House of Representatives Nancy Pelos applaud as President Joe Biden addresses a joint session of Congress at the U.S. Capitol on April 28, 2021. (Melina Mara / AFP - Getty Images)
President Joe Biden’s pledge to pay for his comprehensive child care and infrastructure packages by raising taxes on the wealthy is creating battle lines among venture capitalists.
Even before a specific bill has been formally introduced, some Silicon Valley venture capitalists and other large investors outside California have mobilized to protest the president’s plan to raise the capital gains tax, which investors pay when they sell financial assets. The opposition has started with the industry’s largest lobbying group, the National Venture Capital Association, which has publicly opposed raising capita ....

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Allelica Raises $1.75 Million in Seed Financing to Advance Polygenic Risk Score (PRS) Analysis into Clinical Practice


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PRS stratifies disease risk and brings precision medicine into clinical routine
Allelica, a leading genomics software company specialising in developing polygenic risk scores (PRSs) for common diseases, today announced that the company has raised $1.75 million in a seed financing round led by Valor Ventures, Sternberg Health, Pi Campus, as well as strategic business angels also participated in the round. As part of the transaction, Valor Ventures General Partner Gary Peat has joined the Allelica board of directors and Allelica has relocated its headquarters to New York City.
The proceeds of the financing will be used to advance clinical integration of Allelica s PRS software into healthcare systems in the US. A PRS is a measurement of a person s risk of disease based on their genes and is based on combining the effects of a large number of genetic variants across the genome. This information can be used to stratify individuals based on their risk of disease. By co ....

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