Philly weekly roundup: Ownable founder pleads guilty; Piano to hit $100M revenue; Lava Therapeutics layoffs

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This week in Philly, startups raised $3.3 billion in VC last year, a new idea for a chatbot that helps immigrants navigate the legal system and more.

Read on for Technical.ly’s weekly roundup of top news in the region.

📰 News Incubator: What else to know

• Almost 500 employees at NIST, which runs programs like the CHIPS for America initiative, could lose their jobs due to federal workforce cuts. [Technical.ly]

• Local accelerator HiveBio is helping connect life sciences startups with funding opportunities, despite grant delays from the federal government, founder Tia Lyles-Williams said on Technical.ly Speaking with WURD Radio. [Technical.ly]

• Josh Verne, founder of the startup Ownable, pled guilty to federal fraud charges. The SEC filed a civil fraud complaint against him in June 2023. Verne was charged with three counts of securities fraud for using money he raised to support his personal lifestyle rather than his company. [The Inquirer/Technical.ly]

•  Biotech company Lava Therapeutics plans to cut its workforce by 30%, letting about 10 people go. The immuno-oncology company is based in both Philadelphia and the Netherlands. [Global Newswire]

•  The New Jersey Economic Development Authority plans to build a new Strategic Innovation Center in Camden. The space will provide resources and lab space for biotech companies in the region. [NJEDA]

•  Analytics firm Piano is profitable and expects to hit $100 million in revenue this year. The company recently raised $120 million from a loan and Series D funding round. [Philly Biz Journal]

•  Philadelphia hotels saw $4.3 million in incremental revenue the weekend of the Eagles Super Bowl parade, according to the Philadelphia Convention and Visitors Bureau. [PHL CVB]

• Center City District released its Quarterly Market Update about the state of the economy. The report found that 88% of employees living within two miles of Center City are back in the office. [CCD]

• Philadelphia’s Tax Reform Commission proposed getting rid of the city’s business income and receipts tax and reducing wage tax. [The Inquirer]

• Philadelphia is a recipient of a $10,000 DollarWise Innovation Grant from the United States Conference of Mayors. The Office of Community Empowerment and Opportunity will use the funding for its Same Day Work and Pay program, which provides employment opportunities for people facing economic instability. [USCM]

🗓️ On the Calendar

• Find out what it takes to be a strong product leader with ProductTank Philadelphia on March 5 at O3. [More details]

• Communicate off the grid with Meshtastic and LoRa nodes at the next DC215 meetup on March 5. [More details]

• Bi-monthly Venture Cafe is back on March 6. [Register here]

• Ellevate Network Philadelphia is hosting a Women’s History Month event on March 6 at Paradigm Gallery. [Register here]

• Code and Coffee returns on March 8 at the Yard. [More details]

• Partner event: Learn about a non-traditional path into entrepreneurship at Temple Fox Business School’s next Innovation Leader Speaker Series. On March 11, Doug Fastuca, managing director at Malvern Investment Partners, will explain how “Entrepreneurship Through Acquisition” works — and if it’s the right path for you. [Reserve a spot] [Submit a question]

.• Life sciences leader Lawrence Rich is hosting a monthly meetup for people in the life sciences community at Technical.ly’s office at the Curtis Center. The first meetup is on March 13. [More details]