Klatu Networks has a very niche market: The company makes IoT technology that keeps millions of medical samples and treatments safe from freezer failures.
Klatu, which is co-headquartered in the Seattle and San Diego areas, just raised $1 million from Seattle-area angel investors to support that work. Co-founder and CEO Rick Kriss —the former president of San Diego wireless communications company Xsilogy — said a boom in the industry is driving demand and interest in the company’s technology.
“The market ten years ago was 40 percent biologics and 60 percent synthetics,” said Kriss. Synthetics are drugs that aren’t alive, like your average Asprin. Biologics are treatments or drugs that involve living pieces, like many vaccines and emerging cancer immunotherapies.
Today, those numbers are flipped: New biological treatments are flooding into the market, and biologics make up 60 percent of treatments.