Hush, a San Diego startup that has developed “smart earbuds” to minimize the distractions of a noisy world, is beginning a crowdfunding campaign today that would enable the year-old company to produce as many as 10,000 units by spring. Founded by three UC San Diego engineering students (all named Daniel), Hush has set a goal … Continue reading “Hush Begins Crowdfunding to Produce Noise-Masking “Smart Earplugs””
Author: Bruce V. Bigelow
In Memoriam: Our dear friend Bruce V. Bigelow passed away on June 29, 2018. He was the editor of Xconomy San Diego from 2008 to 2018. Read more about his life and work here.
Bruce Bigelow joined Xconomy from the business desk of the San Diego Union-Tribune. He was a member of the team of reporters who were awarded the 2006 Pulitzer Prize in National Reporting for uncovering bribes paid to San Diego Republican Rep. Randy “Duke” Cunningham in exchange for special legislation earmarks. He also shared a 2006 award for enterprise reporting from the Society of Business Editors and Writers for “In Harm’s Way,” an article about the extraordinary casualty rate among employees working in Iraq for San Diego’s Titan Corp. He has written extensively about the 2002 corporate accounting scandal at software goliath Peregrine Systems. He also was a Gerald Loeb Award finalist and National Headline Award winner for “The Toymaker,” a 14-part chronicle of a San Diego start-up company. He takes special satisfaction, though, that the series was included in the library for nonfiction narrative journalism at the Nieman Foundation for Journalism at Harvard University.
Bigelow graduated from U.C. Berkeley in 1977 with a degree in English Literature and from the Columbia University Graduate School of Journalism in 1979. Before joining the Union-Tribune in 1990, he worked for the Associated Press in Los Angeles and The Kansas City Times.
San Diego Deals Roundup: On-Ramp, Scoperta, Proximal Data
There’s been a flurry of deals among San Diego’s tech startups in recent weeks, perhaps reflecting an effort to get financing and other transactions secured before the holidays—and while market conditions remain good. In addition to funding rounds raised recently by Mogl and the cleantech company Noble Environmental Technologies, other noteworthy tech deals include: —San … Continue reading “San Diego Deals Roundup: On-Ramp, Scoperta, Proximal Data”
DMI Diagnostic Device Wins Grand Prize in Nokia Sensing XPrize
The XPrize Foundation returned to San Diego today to announce that a team led by Eugene Y. Chan of the DNA Medicine Institute (DMI) in Cambridge, MA, is the winner of the second $525,000 grand prize in the Nokia Sensing XPrize Challenge. X Prize founder and chairman Peter Diamandis and Nokia CTO Henry Tirri announced … Continue reading “DMI Diagnostic Device Wins Grand Prize in Nokia Sensing XPrize”
Envisage Deal Lets Noble Environmental Expand Ecor Production
In a move intended to boost the production of its Ecor-brand sustainable building materials, San Diego’s Noble Environmental Technologies (NET) has received an influx of capital from Envisage Equity, a private equity firm based in Newport Beach, CA. The funding is part of a strategic partnership that NET and Envisage disclosed last week. The partners … Continue reading “Envisage Deal Lets Noble Environmental Expand Ecor Production”
After Some Revamping, Mogl Raises $11M for Nationwide Expansion
San Diego’s Mogl, founded almost four years ago as a Web-based restaurant loyalty program, has raised an additional $11 million in venture funding. The startup plans to use the cash to expand beyond its existing market of six cities, which includes San Diego, Los Angeles, and San Francisco, into 14 additional metro areas—including New York, … Continue reading “After Some Revamping, Mogl Raises $11M for Nationwide Expansion”
Fab Lab Moves Downtown as San Diego Creates its Own SoMa
A redevelopment plan to create a “Makers Quarter” in downtown San Diego’s upper East Village is beginning to come into focus with the arrival of Fab Lab San Diego, a nonprofit DIY workshop that supports entrepreneurs, offers classes, and provides fabrication services. The San Diego Fab Lab, established in 2007 as part of MIT’s Global … Continue reading “Fab Lab Moves Downtown as San Diego Creates its Own SoMa”
Abbott Acquires Topera for $250M, Gains Entré to Global AFib Market
Abbott, the healthcare giant based near Chicago, IL, has acquired Topera, a venture-backed startup founded on diagnostic technology developed by a San Diego cardiologist to pinpoint the electrical impulses that drive abnormal heartbeats. In a statement yesterday, Abbott said it would acquire all outstanding equity of Topera for $250 million upfront, with potential future payments … Continue reading “Abbott Acquires Topera for $250M, Gains Entré to Global AFib Market”
Neothetics Files $63M IPO to Advance Drug That Melts “Love Handles”
A biotech company developing an injectable drug to shrink the excess fat that forms “love handles” says it plans to raise more than $63 million through an IPO. San Diego-based Neothetics, previously known as Lithera, has substantial backing from Domain Associates and its Russian investment partner, Rusnano MedInvest. San Francisco-based Alta Partners also holds a … Continue reading “Neothetics Files $63M IPO to Advance Drug That Melts “Love Handles””
StackIQ Raises $6M for Web-based IT Management Technology
San Diego-based StackIQ, which provides Web-based technology for managing highly distributed applications for “Big Data” and cloud computing, says today it has raised $6 million in a Series B round of funding. The capital infusion will be used to expand StackIQ’s operations, including sales and marketing for cluster management software that helps to automate the … Continue reading “StackIQ Raises $6M for Web-based IT Management Technology”
San Diego’s Third-Quarter Venture Activity on Par, and Top 10 Deals
Venture capital funding for startups in the San Diego area ticked up slightly during the third quarter that ended Sept. 30, with $238.5 million invested in 27 deals, according to data from the MoneyTree Report. That was about a 7.2 percent increase over the $222.4 million that VCs invested in deals in the previous quarter, … Continue reading “San Diego’s Third-Quarter Venture Activity on Par, and Top 10 Deals”
VC Funding Still Robust as Year-to-Date Total Exceeds 2013
Venture capital activity is down from a 13-year high during the second quarter, but a new MoneyTree Report released today shows that venture funding was still going strong in the three months that ended Sept. 30, with $9.9 billion invested in 1,023 deals. That was almost a 27 percent drop from the $13.5 billion that … Continue reading “VC Funding Still Robust as Year-to-Date Total Exceeds 2013”
Qualcomm and Techstars Establish Accelerator for Robotics Startups
As the global market tops out for advanced smartphone processors, radios, and other wireless chips, Qualcomm (NASDAQ: [[ticker:QCOM]] is staking a claim in robotics. Under a partnership with Boulder, CO-based Techstars announced today, the wireless technology giant plans to host a four-month robotics accelerator for 10 startups at its San Diego headquarters next year. The … Continue reading “Qualcomm and Techstars Establish Accelerator for Robotics Startups”
Ensighten Buys Anametrix Amid Consolidation in Digital Marketing
San Jose, CA-based Ensighten, which provides Web-based tag management technology for corporate customers, says today it has acquired Anametrix, a San Diego specialist in software-as-a-service used to analyze and optimize multi-channel digital marketing. It is Ensighten’s second acquisition this year, and extends a wave of consolidation that has been underway for more than a year … Continue reading “Ensighten Buys Anametrix Amid Consolidation in Digital Marketing”
Venture Firms Turn Down Funding Volume, but Still Rockin’ in Q3
Venture capital activity descended from the stratosphere during the third quarter, but it was still flying high, as venture firms invested nearly $9.8 billion in 879 deals across the United States, according to a report released today by the financial data firm CB Insights. The amount invested during the quarter was down 30 percent from … Continue reading “Venture Firms Turn Down Funding Volume, but Still Rockin’ in Q3”
Untying the Knots in Big Data and Big Biology: Q&A with Andrew Su
As big data becomes increasingly important in using genomic information, the National Institutes of Health is funding a sweeping initiative to help untie the knots that make it hard to extract and apply meaningful information from huge biomedical data sets. The program was conceived, in the words of NIH Director Francis Collins, to “overcome the … Continue reading “Untying the Knots in Big Data and Big Biology: Q&A with Andrew Su”
Doctors Close to Implanting First Stem-Cell Therapy for Diabetes
Researchers from San Diego-based ViaCyte and UC San Diego provided new details about the first-ever human clinical trial of a stem cell-derived therapy for patients with type 1 diabetes yesterday at a scientific symposium at The Salk Institute. The early stage clinical trial is intended to test the safety of an approach that ViaCyte has … Continue reading “Doctors Close to Implanting First Stem-Cell Therapy for Diabetes”
Allot Closing San Diego Operations Two Years After Ortiva Buyout
Israel’s Allot Communications (NASDAQ: [[ticker:ALLT]]) is shutting down its San Diego-based operations, which came with the 2012 acquisition of Ortiva Wireless, a spokeswoman confirmed today. About 20 employees are affected by the shutdown, according to an e-mail from Maya Lustig, director of communications for Allot, which is based near Tel Aviv, in Hod Hasharon. Ortiva, … Continue reading “Allot Closing San Diego Operations Two Years After Ortiva Buyout”
San Diego Life Sciences Roundup: Ambit, Zogenix, Aethlon, and More
Assessing the extent of long-term brain damage from concussions in football and other impact sports can be difficult (to say the least) if the only way to determine whether an individual is suffering from Chronic Traumatic Encephalopathy is by autopsy. So it’s interesting when a little-known life sciences company like San Diego’s Aethlon Medical starts … Continue reading “San Diego Life Sciences Roundup: Ambit, Zogenix, Aethlon, and More”
Building a Robotics Ecosystem: Q&A with UC San Diego’s Al Pisano
It’s been almost a year since UC San Diego and Qualcomm (NASDAQ: [[ticker:QCOM]]) confirmed an initiative was underway to create an ambitious robotics institute that would include a new incubator for robotics startups. The effort was conceived as a way to put San Diego on the map as an up-and-coming innovation hub in robotics, create … Continue reading “Building a Robotics Ecosystem: Q&A with UC San Diego’s Al Pisano”
Daiichi Sankyo Offers $315M Up Front to Get Ambit and Leukemia Drug
Japan’s Daiichi Sankyo has agreed to acquire San Diego cancer drug developer Ambit Biosciences (NASDAQ: [[ticker:AMBI]]) for $315 million in cash, with additional milestone payments that could bring the total to $410 million. The transaction comes just over a year after another big Japanese drug maker, Astellas Pharma, officially ended its four-year partnership with Ambit … Continue reading “Daiichi Sankyo Offers $315M Up Front to Get Ambit and Leukemia Drug”
In 2-Minute Drill for Startups, a Winning Pitch for Clinical Trials
In two minutes, Summer Rogers said it all. The founder and CEO of San Diego-based nPruv said she founded the Web-based health IT startup to help match chronically ill patients with clinical trials of new drug candidates. As she put it, “We are a Match.com for clinical trials.” Rogers said 80 percent of clinical trials … Continue reading “In 2-Minute Drill for Startups, a Winning Pitch for Clinical Trials”
Backed By a Baidu Founder, Allele Raises $7M to Reprogram Stem Cells
After subsisting mostly on Small Business Innovation Research grants and sales of laboratory reagents over the past 15 years, San Diego-based Allele Biotechnology & Pharmaceuticals says it has raised $7 million in its first round of institutional funding. Yuan Capital, a private equity firm with offices in Beijing and Hong Kong, led the Series A … Continue reading “Backed By a Baidu Founder, Allele Raises $7M to Reprogram Stem Cells”
TVC Leads $9.5M Round for Centage to Expand Financial Software
The San Diego private equity firm TVC Capital specializes in software deals, but TVC is not a venture investor. TVC says it invests in high-growth companies with untapped potential. You could say that Jeb Spencer, TVC’s co-founder and managing partner, views prospective early stage deals in the white-hot consumer Web sector as all sizzle and … Continue reading “TVC Leads $9.5M Round for Centage to Expand Financial Software”
San Diego Meets the Xconomists: A Real-World Innovation Commons
The heat wave broke with impeccable timing, and we were grateful that “California weather” was back as San Diego’s innovation leaders gathered for Xconomy’s sixth annual networking event. Xconomy founder and CEO Bob Buderi also returned to San Diego for the reception, which brings together local startup founders, investors, and innovators in a real-world realization of … Continue reading “San Diego Meets the Xconomists: A Real-World Innovation Commons”
Avalon-GSK Collaboration Generates Two More Startups in San Diego
San Diego’s Avalon Ventures is taking the wraps off two new startups today, with each one getting as much as $10 million in Series A financing through the partnership that Avalon established early last year with GlaxoSmithKline (NYSE: [[ticker:GSK]]). Silarus Therapeutics is targeting a recently discovered hormone, erythroferrone, for treating disorders involving iron regulation in … Continue reading “Avalon-GSK Collaboration Generates Two More Startups in San Diego”
Halozyme Gets Key Validation of Enzyme Tech in HyQvia Approval
Shakespeare wrote, “The course of true love never did run smooth,” and San Diego’s Halozyme Therapeutics (NASDAQ: [[ticker:HALO]]) could say pretty much the same thing about the FDA approval process. When the FDA said Friday that it was approving HyQvia for adult patients with primary immune disorders, you could practically hear the uplifting music swelling … Continue reading “Halozyme Gets Key Validation of Enzyme Tech in HyQvia Approval”
EvoNexus Demo Day Draws Crowd as Incubator Gets Bigger, Better
A little more than five years ago, CommNexus CEO Rory Moore called a news conference outside the former Leap Wireless headquarters to announce the formation of a pro-bono, non-profit incubator for San Diego tech startups. At that time, venture funding in San Diego was in critical condition—especially in the tech sector—and Moore acknowledged that “it’s … Continue reading “EvoNexus Demo Day Draws Crowd as Incubator Gets Bigger, Better”
After Prolonged Review, FDA Approves Orexigen’s Weight-Loss Drug
The FDA today approved a new weight-loss drug for people who are obese or overweight with at least one weight-related health condition, easing a burden that San Diego’s Orexigen Therapeutics (NASDAQ: [[ticker:OREX]]) has been carrying for a long time. Orexigen experienced several setbacks while advancing the drug, an extended release formulation of two previously approved … Continue reading “After Prolonged Review, FDA Approves Orexigen’s Weight-Loss Drug”
Avelas Closes Round, Advancing Biologic That Illuminates Breast Cancer
San Diego’s Avelas Biosciences, which is developing a fluorescing peptide to illuminate cancerous tissue during breast surgery, says today it has closed the second tranche of its Series B round, bringing total funds raised in the round to $7.4 million. Avelas says the capital will be used to move toward a first-in-human study in breast … Continue reading “Avelas Closes Round, Advancing Biologic That Illuminates Breast Cancer”
After Restructuring, SGB Raises $11M for Jatropha Commercialization
San Diego-based SGB, the agricultural biotech previously known as SG Biofuels, says today it has raised $11 million in a Series C round of financing that will be used to drive its revised commercialization strategy. Existing investors, including Thomas, McNerney & Partners, Finistere Ventures, and Flint Hills Resources (a refining subsidiary of Koch Industries) participated … Continue reading “After Restructuring, SGB Raises $11M for Jatropha Commercialization”
FDA OKs Astute Medical’s First Diagnostic for Acute Kidney Injury
San Diego-based Astute Medical, founded in 2007 to identify and validate protein biomarkers that can be used to improve the diagnosis of high-risk medical conditions, says the FDA has cleared its new test for detecting acute kidney injury (AKI). In a statement Friday, the FDA said the first-of-a-kind lab test can help determine if certain … Continue reading “FDA OKs Astute Medical’s First Diagnostic for Acute Kidney Injury”
Feds Provide Funding, Expertise to Advance ZMapp Drug for Ebola
The U.S. Department of Health and Human Services said today it would provide its expertise and as much as $42.3 million to help San Diego-based Mapp Biopharmaceutical accelerate development and testing of ZMapp, the biotech’s experimental Ebola drug. With just nine employees, Mapp Bio lacks the resources to respond to the Ebola crisis unfolding in … Continue reading “Feds Provide Funding, Expertise to Advance ZMapp Drug for Ebola”
Measurabl Raises $2M to Provide Various Disclosures as a Service
Measurabl, a San Diego startup developing Web-based software to help big companies and others collect data required to meet non-financial disclosure requirements, says today it has raised $2 million in a seed funding round led by CrossCut Ventures. The startup was founded last year by Matt Ellis, who was previously director of sustainability solutions at … Continue reading “Measurabl Raises $2M to Provide Various Disclosures as a Service”
Mapp Bio Steps onto Global Stage as Ebola “Hot Zone” Gets Hotter
The “hot zone” in West Africa that has become the worst Ebola outbreak in history is now a full-blown global health crisis—and it is expected to continue into 2015. That is the consensus of three Ebola experts who, speaking at a public forum in San Diego, joined a growing number of world health officials in … Continue reading “Mapp Bio Steps onto Global Stage as Ebola “Hot Zone” Gets Hotter”
AirStrip Raises $25M to Expand into Home Health, Foreign Markets
AirStrip, a San Antonio, TX-based company integrating mobile health and IT technologies, has raised $25 million in a strategic funding round that includes new and existing investors. In a statement, AirStrip says the capital would be used to support the continued expansion of its AirStrip ONE mobile technology platform, introduce its technology to the home … Continue reading “AirStrip Raises $25M to Expand into Home Health, Foreign Markets”
San Diego Venture Group Names Mike Krenn as New President
The San Diego Venture Group is announcing a change in command. Mike Krenn, a veteran San Diego marketing and business development executive, is succeeding Dave Titus as president of the nonprofit business organization, which has worked in recent years to inject new energy to the startup ecosystem in San Diego. Krenn has worked for various … Continue reading “San Diego Venture Group Names Mike Krenn as New President”
Quest for Electoral Innovation Leads to Online Voting for Emmys
Lori Steele-Contorer says she was attending a United Nations conference on technology with the likes of Bill Gates and Carly Fiorina in October 2003, when Arnold Schwarzenegger was first elected as governor of California in a special recall election. At that time, Steele-Contorer was at Solomon Smith Barney, managing a $200 million portfolio of technology … Continue reading “Quest for Electoral Innovation Leads to Online Voting for Emmys”
Biotech Unveils Drug for Viral Infections Tied to Cervical Cancer
A small San Diego biotech has identified a drug that appears to prevent several subtypes of the human papillomavirus (HPV) from replicating—including the two HPV subtypes that cause 70 percent of all cases of cervical cancer. “It’s early, so we shouldn’t hype it too much. But the antiviral studies look pretty good,” said Karl Hostetler, … Continue reading “Biotech Unveils Drug for Viral Infections Tied to Cervical Cancer”
JMI Equity Raises $1B for New Fund, Still Riding IT Spending Surge
JMI Equity, the private equity firm that specializes in software deals, says it has raised $1 billion in committed capital for its eighth growth equity fund—its biggest ever—and plans to keep on investing in growing companies with proven business models. “The business-to-business economy is pretty healthy,” Paul Barber, JMI Equity managing general partner said by … Continue reading “JMI Equity Raises $1B for New Fund, Still Riding IT Spending Surge”
Sanford-Burnham Seeks Improved Pharma Ties with New CEO from GSK
Following an executive search that took about 18 months, San Diego’s Sanford-Burnham Medical Research Institute named a new CEO today. He is Perry Nisen, a pediatric cancer specialist who specialized in commercializing new drugs as senior vice president of science and innovation at GlaxoSmithKline’s campus in King of Prussia, PA. The nonprofit research institute is … Continue reading “Sanford-Burnham Seeks Improved Pharma Ties with New CEO from GSK”
HealthQuest Capital Raises $110M for Debut Fund with Medtech Focus
HealthQuest Capital, founded last year by Sofinnova Ventures partner Garheng Kong, says it has raised $110 million for its debut fund and already has invested in several medical technology and patient care products. While HealthQuest is staying close to Sofinnova—sharing its Menlo Park, CA, office and back office resources—Kong says the firm has a different … Continue reading “HealthQuest Capital Raises $110M for Debut Fund with Medtech Focus”
Mapp’s Ebola Drug Shows Promise, But Making More Will Take Time
The experimental drug therapy given to two Americans and a Spaniard stricken with the lethal Ebola virus was still in research studies when the Ebola outbreak erupted this year in West Africa. Most of the available material was “laboratory-grade, not human-grade,” said Erica Ollman Saphire, a structural biologist whose lab at The Scripps Research Institute … Continue reading “Mapp’s Ebola Drug Shows Promise, But Making More Will Take Time”
Otonomy Hears Wall Street Ovation as Some Life Sciences IPOs Dim
Auris Medical, the Swiss biotech focused on diseases and disorders of the ear, got the catchy ticker symbol (NASDAQ: [[ticker:EARS]]) when it went public last week. But San Diego’s Otonomy (NASDAQ: [[ticker:OTIC]]) got a better valuation yesterday when the biotech ear specialist priced its stock in the upper range at $16 a share. Otonomy traded … Continue reading “Otonomy Hears Wall Street Ovation as Some Life Sciences IPOs Dim”
Organovo to Offer Preclinical Drug Tests Based on 3-D Liver Tissue
San Diego-based Organovo (NYSE: [[ticker:ONVO]]) says a three-dimensional sample of living human liver tissue created with its bio-printing technology was used successfully for the first time to predict that a pre-clinical drug candidate would have a toxic effect on the liver. In financial results reported yesterday for the company’s fiscal first quarter that ended June … Continue reading “Organovo to Offer Preclinical Drug Tests Based on 3-D Liver Tissue”
Startup Has a Higher Purpose in Funding a Flight School for Drones
[Updated 8/19/14 1:40 pm. See below.] The motivation for a Kickstarter campaign that San Diego-based Spark Aerial began last week is made almost comically manifest following a short introduction that includes some spectacular outdoor video shot from remotely operated drones. It is a compilation of out-of-control drones, careening and crashing into rooftops, trees, lakes, and chasing … Continue reading “Startup Has a Higher Purpose in Funding a Flight School for Drones”
West Coast Biotech Roundup: MappBio, Juno, Zosano, and More
The IPO window is still open, sort of, but life sciences companies are not getting through unscathed. San Francisco-based Tobira Therapeutics and New York’s Microlin Bio postponed their offerings after Lexington, MA-based T2 Biosystems and Switzerland’s Auris Medical slashed the terms of their Nasdaq IPOs this week. Now all eyes are on San Diego-based Otonomy, … Continue reading “West Coast Biotech Roundup: MappBio, Juno, Zosano, and More”
In Search of New Markets, Qualcomm Moves Uplinq to Silicon Valley
About 800 people flocked to the downtown San Diego Marriott Hotel and Marina back in 2001, when Qualcomm (NASDAQ: [[ticker:QCOM]]) staged its first BREW developers conference. The San Diego-based company created BREW, an acronym for Binary Runtime Environment for Wireless, as a technology platform that would make it easier for independent programmers to create games, … Continue reading “In Search of New Markets, Qualcomm Moves Uplinq to Silicon Valley”
Venter Hires Google Translate Leader at Human Longevity Startup
Human Longevity, the San Diego startup founded by human genomics pioneer J. Craig Venter, says it has recruited Franz Och, a 42-year-old expert in machine learning and language translation, to develop new ways to rapidly interpret raw genomic and proteomic data. Och has worked as a distinguished research scientist at Google for the past decade, … Continue reading “Venter Hires Google Translate Leader at Human Longevity Startup”
Epic Sciences Raises $30M to Advance Cancer Diagnostics
It’s been about six years since San Diego’s Epic Sciences was founded to commercialize technology that Peter Kuhn and others developed at The Scripps Research Institute for detecting and analyzing circulating tumor cells. In more recent years, the company has moved rapidly to create an entirely new business based on its diagnostic technology. Epic Sciences … Continue reading “Epic Sciences Raises $30M to Advance Cancer Diagnostics”
San Diego’s Sapphire Energy Names New CEO Amid Signs of Change
It’s been clear for awhile that changes were underway at San Diego-based Sapphire Energy, an industrial biotech founded in 2007 to develop a revolutionary process for turning algae into gasoline and other fuels. Today the San Diego startup says former Verenium CEO James Levine has taken over as Sapphire’s CEO from Cynthia “C.J.” Warner, an … Continue reading “San Diego’s Sapphire Energy Names New CEO Amid Signs of Change”