The Snohomish County Economic Development Council has launched a new aerospace initiative that will include working with suppliers and subcontractors connected with the Boeing Co.’s new 7E7 program. The program will be led by John Monroe, a former executive with Boeing’s Everett-based 777 program. Monroe is a longtime member of the development council’s board of directors. Before he retired from Boeing in 2003, he was director of 777 program management.
Mukilteo-based CombiMatrix Corp. will partner with Cyrano Sciences of Pasadena, Calif., to develop equipment that can detect chemical agents in air and water. Terms of the new agreement were not released. CombiMatrix and Cyrano both have technology that’s applicable to developing an “electronic nose” that can sense low levels of potentially deadly substances. CombiMatrix is a subsidiary of Acacia Research Corp. of California. On Monday, the tracking stock for CombiMatrix rose $1.11 a share, or more than 26 percent, to end at an all-time high of $5.34. Since Jan. 5, the stock has gained 45 percent.
Seattle Genetics Inc. of Bothell said it has expanded an existing collaboration with a California firm, resulting in increased fees and potentially larger payments and royalties in the future. Under its amended agreement with Protein Design Labs, Seattle Genetics will provide additional research and development work for products that use antibody-drug conjugates, which use antibodies to target specific cells with potent drugs. That approach can reduce the toxic effects of traditional cancer treatments on other cells.
Three Snohomish County-based companies are included in a new regional stock index created by D.A. Davidson &Co. of Denver. The brokerage has launched the “Davidson 99 Regional Index,” which includes 99 companies from a seven-state region. The locally-based companies in the index are ICOS Corp. of Bothell, Unova Inc. of Everett and Frontier Financial of Everett. For more information about the new regional index, go to www.dadco.com.
The Treasury Department, responding to evidence that taxpayers who donate cars to charities tend to overstate their value, asked Congress to give taxpayers a choice between obtaining an independent appraisal of a car’s value or estimating its fair market value using a department formula.
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