Searching for smart, safe news you can TRUST?

Support safe, smart, REAL journalism. Sign up for our Axios AM & PM newsletters and get smarter, faster.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Searching for smart, safe news you can TRUST?

Support safe, smart, REAL journalism. Sign up for our Axios AM & PM newsletters and get smarter, faster.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Denver news in your inbox

Catch up on the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Des Moines news in your inbox

Catch up on the most important stories affecting your hometown with Axios Des Moines

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Minneapolis-St. Paul news in your inbox

Catch up on the most important stories affecting your hometown with Axios Minneapolis-St. Paul

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tampa-St. Petersburg news in your inbox

Catch up on the most important stories affecting your hometown with Axios Tampa-St. Petersburg

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Photo: Donat Sorokin\TASS via Getty Images

Karius, a startup that tests for and identifies infectious diseases, has raised $165 million in a new funding round led by SoftBank's Vision Fund 2.

The big picture: Diagnosing infections is difficult and time-consuming, but Karius says its sequencing test makes the process easier and quicker because everything can be done from standard blood draws.

How it works: Hospitals pay $2,000 for every Karius test, which involves getting a patient's blood and shipping the samples to Karius' lab in California, said Karius CEO and co-founder Mickey Kertesz.

  • The test, which has some company-funded research, extracts a certain kind of DNA from the blood and tests it for 1,400 microbes. That differs from other companies that also test for pathogens from blood.
  • Karius then reports what the specific infection is within 24 hours, instead of spending days or weeks on multiple tests, and that informs doctors of what treatment to use.

Between the lines: Theranos has created a wave of skepticism with blood testing. But 100 hospitals already use the Karius test, and the company has been "very open about what we do" to hospitals and investors, Kertesz said.

  • He plans to use the new funding to conduct more clinical research of Karius' test, as well as develop its technology.
  • The money will also go toward a sales push to get more hospitals to use the test. He did not disclose revenues or test volume.
  • "Hospitals can save a lot of money and [improve] mortality, compared to what they would otherwise spend on invasive biopsies or extended stays in the ICU," Kertesz said.

Go deeper

Trump bump: NYT and WaPo digital subscriptions tripled since 2016

Data: Axios reporting and public filings; Chart: Axios Visuals

The New York Times and The Washington Post have very different strategies for building the subscription news company of the future.

The big picture: Sources tell Axios that the Post is nearing 3 million digital subscribers, a 50% year-over-year growth in subscriptions and more than 3x the number of digital-only subscribers it had in 2016. The New York Times now has more than 6 million digital-only subscribers, nearly 3x its number from 2016.

Ben Geman, author of Generate
1 hour ago - Energy & Environment

Biden's emerging climate orbit

Photo illustration: Aïda Amer/Axios. Photo: Win McNamee/Getty Images

As of Tuesday morning, we know a lot more about President-elect Joe Biden climate personnel orbit, even as picks for agencies like EPA and DOE are outstanding, so here are a few early conclusions.

Why it matters: They're the highest-level names yet announced who will have a role in what Biden is promising will be a far-reaching climate and energy agenda.

Janet Yellen is back

Photo illustration: Sarah Grillo/Axios. Photo: Hannelore Foerster/Getty Images

A face familiar to Wall Street is back as a central player that this time will need to steer the country out of a deep economic crisis.

Driving the news: President-elect Joe Biden is preparing to nominate former Fed chair Janet Yellen to be Treasury secretary.