Much of the week’s life sciences news concerned the end-of-year data on venture capital activity, and how much money flowed into San Diego’s biotech and device companies in 2013. And then there was Shire’s San Diego stumble. I’ve got it all wrapped up here. —Less than three years after acquiring San Diego-based Advanced BioHealing, Ireland’s … Continue reading “San Diego Life Sciences Roundup: Shire, Illumina, Tandem, and More”
Author: Bruce V. Bigelow
Venture Highlights of 2013: Early Stage Deals, Mobile, and New York
More venture data is coming out today, and it confirms some of the big-picture trends for 2013—namely, a modest increase in the amount of venture investing nationwide. New York’s CB Insights, a venture capital database, says in its end-of-year report that the $29.2 billion that VCs invested throughout the United States in 2013 amounted to … Continue reading “Venture Highlights of 2013: Early Stage Deals, Mobile, and New York”
With Dermagraft Sale, Shire Jettisons Business Acquired 3 Years Ago
Shire (NASDAQ: [[ticker:SHPG]]) engendered some high expectations after the Irish biopharmaceutical giant acquired San Diego’s Advanced BioHealing in 2011 for $750 million. Over the next year or so, Shire formed a new San Diego-based division—Shire Regenerative Medicine—and unveiled plans to spend $100 million on a new corporate campus that would serve as the cornerstone for … Continue reading “With Dermagraft Sale, Shire Jettisons Business Acquired 3 Years Ago”
With Biotech IPO Outlet, San Diego Venture Funding at 15-Year Low
Venture capital firms invested almost $758 million in 97 startups in the San Diego region last year, marking the slowest pace in 15 years, according to data from the MoneyTree Report. Compared with 2012, when venture firms invested more than $1.1 billion in 105 companies, the amount of venture capital invested here was down by … Continue reading “With Biotech IPO Outlet, San Diego Venture Funding at 15-Year Low”
San Diego Life Sciences Roundup: Isis, Receptos, Suneva, and More
Much of San Diego’s life sciences sector is returning from the 2014 JP Morgan Healthcare Conference, which ended yesterday in San Francisco. Here’s my rundown on local news over the past week. —The French pharmaceutical giant Sanofi agreed to pay $700 million for a 12 percent stake in Cambridge, MA-based Alnylam Pharmaceuticals (NASDAQ: [[ticker:ALNY]]) in … Continue reading “San Diego Life Sciences Roundup: Isis, Receptos, Suneva, and More”
2013 VC Funding Tops $29B, and Software Continues to Eat the World
A few years ago, the technology investor Marc Andreessen wrote an essay that explained “Why Software is Eating the World”—and in 2013 venture capital investors laid out a feast to match the industry’s voracious appetite. Venture investments in both software and Internet-specific deals last year amounted to $18.1 billion, or nearly 62 percent of the … Continue reading “2013 VC Funding Tops $29B, and Software Continues to Eat the World”
Larry Smarr Says Quantified Self is Awakening, Despite Zeo’s Failure
It’s been over six years since Wired editors Kevin Kelly and Gary Wolf asked, “What is the Quantified Self?” and nearly four years since computer guru Larry Smarr called attention to the concept of keeping track of your own personal health data. Smarr, who is founding director of the California Institute for Telecommunications and Information … Continue reading “Larry Smarr Says Quantified Self is Awakening, Despite Zeo’s Failure”
Why We Moved Our HQ: Q&A with ServiceNow CEO Frank Slootman
In a development that was widely expected, but not officially disclosed (until now), the cloud-based IT service provider ServiceNow (NYSE: [[ticker:NOW]]) has moved its headquarters to Santa Clara, CA, from San Diego, where the company was founded. ServiceNow CEO Frank Slootman confirmed the move in a recent e-mail exchange with Xconomy. The move wasn’t exactly … Continue reading “Why We Moved Our HQ: Q&A with ServiceNow CEO Frank Slootman”
San Diego Life Sciences Roundup: Receptos, Auspex, Avelas, and More
Amid the flurry of announcements leading up to next week’s JP Morgan Healthcare Conference in San Francisco, you might have missed some significant funding deals coming out of San Diego’s life sciences sector. Here are the highlights, along with my wrap-up of other news. —San Diego’s Auspex Pharmaceuticals said it has raised $35 million in … Continue reading “San Diego Life Sciences Roundup: Receptos, Auspex, Avelas, and More”
With New Funding, Avelas Moves Closer to Color-Coded Cancer Map
San Diego’s Avelas Biosciences says today it has closed on $6.85 million in Series B financing to advance the use of fluorescing peptides that can be used during breast cancer surgery to illuminate cancerous tissue. The new round brings the startup’s total funding to about $14 million since 2009, when Avelas was founded by Roger … Continue reading “With New Funding, Avelas Moves Closer to Color-Coded Cancer Map”
Janssen Tests Ideas, Apps, in Bid for Clinical Trials Innovation
As the cost and complexity of drug development has skyrocketed in recent decades, Big Pharma has focused increasingly on improving the way clinical trials are conducted. In 2007, the FDA and Duke University Medical Center established a public-private collaboration called the Clinical Trials Transformation Initiative (CTTI). The idea was to streamline the process so clinical … Continue reading “Janssen Tests Ideas, Apps, in Bid for Clinical Trials Innovation”
Wisconsin Lab is at Nexus of Innovation for U.S. Forest Service
It takes an unusual person to get excited about the latest advances in such common building materials as medium-density fiberboard. Yet Michael Rains’ runaway enthusiasm comes tumbling through—even on a long-distance phone call from his office, where Rains does double duty as director of the U.S. Forest Service Northern Research Station in Newton, PA (responsible … Continue reading “Wisconsin Lab is at Nexus of Innovation for U.S. Forest Service”
We Ask the Xconomists: Some Quick Predictions for the New Year
As 2013 drew to a close, we asked some of our Xconomists to ponder innovation, past and future, and to give us their predictions for the breakout innovations they expect to see in their respective fields. Here’s what they had to say: Texas Xconomist Blair Garrou, managing director at Mercury Fund in Houston: I’m excited … Continue reading “We Ask the Xconomists: Some Quick Predictions for the New Year”
San Diego Life Sciences Roundup: Rempex, Pfenex, Halozyme & More
It’s beginning to look a lot like Christmas, especially at San Diego’s Rempex Pharmaceuticals, which was acquired in one of the bigger deals of the year. We have details, along with the rest of the region’s recent life sciences news. —The Medicines Co. (NASDAQ: [[ticker:MDCO]]) of Parsippany, NJ, agreed to pay $474 million—including $140 million … Continue reading “San Diego Life Sciences Roundup: Rempex, Pfenex, Halozyme & More”
Roambi Adds Cloud-Based Publishing, Analytics for the Masses
In a move to democratize its data visualization technology and expand its market, Solana Beach, CA-based Roambi says today it is launching a new iPad app intended to bring the power of its Roambi Flow publishing platform to the Internet masses. The company, founded as Mellmo in 2008, introduced Roambi Flow for its corporate customers … Continue reading “Roambi Adds Cloud-Based Publishing, Analytics for the Masses”
Onde Ficar Raises $2M to Expand Software for Booking Hotel Rooms
Just in time for this summer’s 2014 FIFA World Cup soccer tournament in Brazil, San Diego-based Onde Ficar says it has raised $2 million in a Series A funding round to build out its Web-based applications for marketing and managing small and medium-sized hotels. Onde Ficar, which means “Where to Stay” in Portuguese, is initially … Continue reading “Onde Ficar Raises $2M to Expand Software for Booking Hotel Rooms”
HouseCall, Led by Ex-Qualcomms, Advances App for Home Chores
HouseCall, a San Diego-based startup that enables homeowners to tap an online marketplace for plumbers, housekeepers, and other home maintenance services, says it has raised $1.5 million in seed funding from San Francisco’s e.ventures, an initial investor in Angie’s List and Groupon. HouseCall takes a different approach than Angie’s List, Yelp, or HomeAdvisor (previously known … Continue reading “HouseCall, Led by Ex-Qualcomms, Advances App for Home Chores”
San Diego Life Sciences Roundup: Orexigen, Accelrys, Otonomy, & More
Drug development and deals continued apace as the Christmas holiday draws near. Here’s the latest in San Diego’s life sciences news. —-Orexigen Therapeutics (NASDAQ: [[ticker:OREX]]) said it has resubmitted its application with the FDA for its new weight-loss drug, a sustained release formulation of bupropion that’s being marketed as Contrave. Orexigen said last month it … Continue reading “San Diego Life Sciences Roundup: Orexigen, Accelrys, Otonomy, & More”
San Diego’s Genomatica Inks Development Deal for “Bio Butadiene”
Genomatica, the San Diego industrial biotech, and the Brazilian petrochemical company Braskem have agreed to work together to commercialize technology needed to produce bio-based butadiene—one of the key chemicals needed to make tires. According to a joint statement yesterday, Braskem would provide “significant” but undisclosed funding over several years for Genomatica’s work to develop processes … Continue reading “San Diego’s Genomatica Inks Development Deal for “Bio Butadiene””
Vista Equity Laying Groundwork to Move Three San Diego Companies
Vista Equity Partners, the private equity firm that spent $2.8 billion this year acquiring San Diego’s Active Network, Websense, and Omnitracs, intends to move all three companies to Texas, according to a source in senior management who is familiar with the plans. The relocation would be completed in 2014, affecting a total of up to … Continue reading “Vista Equity Laying Groundwork to Move Three San Diego Companies”
U.S. IPO Activity in 2013 on Track for Highest Level in 9 Years
As the IPO counter continues to roll, the EY accounting firm says it estimates 2013 will ring up a total of 222 U.S. IPOs (or maybe 223), with cumulative proceeds generating a total of about $59.7 billion. EY has counted 211 IPOs as of yesterday, and 10 more IPOs are on the calendar for this … Continue reading “U.S. IPO Activity in 2013 on Track for Highest Level in 9 Years”
Accelrys Acquires Irish Software Developer Qumas for $50M
San Diego scientific software developer Accelrys (NASDAQ: [[ticker:ACCL]]) says it has paid about $50 million in cash to acquire Qumas, an Irish specialist in compliance and quality management software. The aquisition marks the fifth deal for Accelrys over the past two years, beginning with its $35 million buyout of Hopkinton, MA-based VelQuest and $30 million … Continue reading “Accelrys Acquires Irish Software Developer Qumas for $50M”
Crowd Deluges San Diego’s First Mini Maker Faire: An Xconomy Slideshow
Organizers of the San Diego Mini Maker Faire were unsure what kind of a turnout they would get for the city’s first day-long festival of invention, held Saturday at the Del Mar Fairgrounds just north of San Diego. By Friday, only about 300 people had registered online and organizers fretted that they might not get … Continue reading “Crowd Deluges San Diego’s First Mini Maker Faire: An Xconomy Slideshow”
Q&A: Behind Ignyta’s New Strategy on Cancer Drugs and Diagnostics
Not many biotech startups can reinvent themselves, but San Diego’s Ignyta has executed a series of strategic changes over the past eight months that have set the company on a new course. Ignyta, founded in August 2011 by Jonathan Lim and Gary Firestein, set out to develop new diagnostic tests for rheumatoid arthritis and other … Continue reading “Q&A: Behind Ignyta’s New Strategy on Cancer Drugs and Diagnostics”
Connect Honors Roth, Highlights Product Innovation in San Diego
Connect, the nonprofit supporting entrepreneurship and innovation throughout the San Diego region, offered a final heartfelt goodbye to the late Duane Roth today as part of its 26th annual awards luncheon for the most innovative products introduced over the past year. Roth led Connect for nearly seven years before his untimely death on Aug. 3 … Continue reading “Connect Honors Roth, Highlights Product Innovation in San Diego”
San Diego Life Sciences Roundup: Ignyta, Conatus, Liver Prize & More
Rust never sleeps, and neither does the news. Here’s my wrap-up of the latest developments from San Diego’s life sciences community. —San Diego-based Ignyta, which trades over the counter under the ticker symbol RXDX, said it has raised a total of $54 million through two private placements. Ignyta, which intends to move to the Nasdaq … Continue reading “San Diego Life Sciences Roundup: Ignyta, Conatus, Liver Prize & More”
Seven San Diego Startups Selected for 2014 Plug and Play StartupCamp
Seven local startups have been selected for the Plug and Play San Diego StartupCamp program, the tech accelerator that provides workshops and other services in San Diego and Silicon Valley—and includes $25,000 in equity financing. The selection was made yesterday by a panel of 14 judges following presentations by 17 companies at the Co-Merge shared … Continue reading “Seven San Diego Startups Selected for 2014 Plug and Play StartupCamp”
San Diego’s Telephus Seeks $5M to Advance Anti-Infective Antibody
According to Greek mythology, “the wound that would not heal” was inflicted by the intemperate warrior Achilles when he fell upon Telephus, son of Hercules, after invading an allied kingdom in the mistaken belief that he had landed at Troy. Terrible was Achilles’s spear, and terrible was the wound that would not heal. Telephus recovered … Continue reading “San Diego’s Telephus Seeks $5M to Advance Anti-Infective Antibody”
San Diego Life Sciences Roundup: Orexigen, Avalon, GSK, and More
Here’s my pre-holiday wrap-up of San Diego’s life sciences news. Have a happy Thanksgiving! —San Diego’s Orexigen Therapeutics (NASDAQ: [[ticker:OREX]]) said it plans to resubmit its new drug application for its obesity drug, which combines bupropion and naltrexone (Contrave), after additional analysis showed it did not increase heart-related risks. Orexigen shares climbed about 17 percent … Continue reading “San Diego Life Sciences Roundup: Orexigen, Avalon, GSK, and More”
San Diego Venture Group Picks Three Finalists for Annual PitchFest
Three finalists have been selected to present their business plans at the San Diego Venture Group’s 14th annual PitchFest, which offers more than $25,000 in cash and in-kind services for local startup founders who can deliver the best presentations. More than 90 startups applied for the program. A panel of local venture capital investors winnowed … Continue reading “San Diego Venture Group Picks Three Finalists for Annual PitchFest”
Glaxo Setting Up San Diego Outpost to Oversee its Westward Expansion
The British multinational pharmaceutical giant GlaxoSmithKline (NYSE: [[ticker:GSK]]) is establishing an R&D outpost in San Diego to help manage its relationships with venture capital firms, and to prospect along the West Coast for new opportunities in drugs, biologics, vaccines, and other products. It will be GSK’s first office in San Diego, according to Damien McDevitt, … Continue reading “Glaxo Setting Up San Diego Outpost to Oversee its Westward Expansion”
San Diego Life Sciences Roundup: IPOs, CareFusion, and More
The IPO market continued to chill for life sciences companies, as generalist investors apparently lost their enthusiasm for the sector. Here are the details, along with the rest of San Diego’s life sciences news. —San Diego-based Vital Therapies postponed its IPO, as investor demand for biotech stocks cooled, especially among the institutional investors who don’t … Continue reading “San Diego Life Sciences Roundup: IPOs, CareFusion, and More”
Vital Therapies Postpones IPO as Biotech Sector Chills
Life sciences IPOs ran into market resistance for the second consecutive week. San Diego-based Vital Therapies and Malvern, PA’s TetraLogic Pharmaceuticals both postponed their IPOs yesterday, according to the IPO research firm Renaissance Capital. Travena, another Pennsylvania biotech, scrapped its IPO earlier in the week, and two other life science companies, Oxford Immunotec and Evogene, … Continue reading “Vital Therapies Postpones IPO as Biotech Sector Chills”
First Startup from Avalon-GSK Deal Raises $10M for Celiac Disease
A collaboration formed earlier this year between San Diego’s Avalon Ventures and GlaxoSmithKline (NYSE: [[ticker:GSK]]) has hatched its first startup. Avalon partner Jay Lichter says the company, Sitari Pharmaceuticals, was recently established with $10 million in Series A financing, provided under the Avalon-GSK partnership, to develop new treatments for celiac disease. Under their innovative collaboration, … Continue reading “First Startup from Avalon-GSK Deal Raises $10M for Celiac Disease”
Mogl’s Anti-Hunger Games Use Peer Pressure to Put Food on Plates
With Thanksgiving just a week away, San Diego-based Mogl has overhauled its Web-based restaurant rewards program to make it easier for people to make a donation to ward off hunger in America. In the spirit of Toms, which donates a pair of shoes for every pair sold, and Warby Parker, which donates a pair of … Continue reading “Mogl’s Anti-Hunger Games Use Peer Pressure to Put Food on Plates”
Riding Wave of Smartphone Growth, Qualcomm Sets Course Far Ahead
Many people know that San Diego-based Qualcomm (NASDAQ: [[ticker:QCOM]] is a big technology company, but there are not many who grasp the scale of Qualcomm’s success in recent years. One big reason is that Qualcomm is not a consumer-facing technology company. The wireless giant sells its radio chips, mobile processors, and related wireless technologies to … Continue reading “Riding Wave of Smartphone Growth, Qualcomm Sets Course Far Ahead”
As Total U.S. IPOs Mount, Several Biotech Deals Stumble
With less than six weeks remaining in 2013, the number of U.S. IPOs continues to mount at a rate unseen since the financial meltdown of 2008. Ten companies are set to go public on U.S. markets this week, according to Renaissance Capital, the IPO investment firm based in Greenwich, CT. That includes Vital Therapies, a … Continue reading “As Total U.S. IPOs Mount, Several Biotech Deals Stumble”
Tealium Tries to Simplify Tag Chaos, Adds Data Layer for Marketers
It was almost a year ago when veteran software executive Jeff Lunsford took over as CEO at San Diego’s Tealium, a five-year-old startup providing data-management technology for the online marketing teams at companies like Urban Outfitters, Fox Networks Group, McAfee, and Travelocity. In a recent call from the airport in San Jose, CA, Lunsford says … Continue reading “Tealium Tries to Simplify Tag Chaos, Adds Data Layer for Marketers”
San Diego’s Celladon Postpones IPO, Cites “Poor Market Conditions”
Maybe that IPO wasn’t such a good idea after all. San Diego’s Celladon, on the fast track to advance clinical development of its first-in-class gene therapy for patients with systolic heart failure, postponed its IPO Wednesday, according to Renaissance Capital, an institutional research firm that specializes in IPOs. The company cited poor market conditions. Celladon … Continue reading “San Diego’s Celladon Postpones IPO, Cites “Poor Market Conditions””
San Diego Life Sciences Roundup: Tandem, Sorrento, Volcano, & More
[Updated 11/14/13 3:40 pm to show that Celladon postponed its IPO.] Another San Diego life sciences company completed its IPO, and at least one more local IPO (Biocept) is waiting in the wings for its moment in the spotlight. (San Diego’s Celladon has postponed its IPO.) We have details, along with the rest of the … Continue reading “San Diego Life Sciences Roundup: Tandem, Sorrento, Volcano, & More”
Tandem Diabetes Care Raises $120M in Bigger-Than-Expected IPO
The IPO class of 2013 continues to amaze, with San Diego’s Tandem Diabetes Care joining the parade as the 48th life sciences company in the United States to go public so far this year, according to Renaissance Capital. Tandem Diabetes is expected to begin trading on the Nasdaq exchange tomorrow under the ticker symbol TNDM, … Continue reading “Tandem Diabetes Care Raises $120M in Bigger-Than-Expected IPO”
Ezoic Raises $5.6M to Introduce Multivariate Testing for Web Masses
Ezoic, a three-year-old startup that provides automated Web analysis to optimize the layout of its customers’ websites to maximize their ad revenue, is stepping into the light today, saying it has closed a $5.6 million Series A round of venture financing. The London venture firm Balderton Capital led the round, which was joined by another … Continue reading “Ezoic Raises $5.6M to Introduce Multivariate Testing for Web Masses”
Arena’s Expanded Marketing Deal with Eisai Has Broad Implications
Arena Pharmaceuticals (NASDAQ: [[ticker:ARNA]]) rode a wave of investor enthusiasm after the San Diego company said last week it has expanded its commercialization agreement with the Japanese drug giant Eisai to cover most of the world. The news sent Arena’s stock soaring Friday (gaining over 17 percent to close at $4.79 a share) and again … Continue reading “Arena’s Expanded Marketing Deal with Eisai Has Broad Implications”
San Diego Life Sciences Roundup: Santarus, Cytori, IPOs, and More
This was a big week for life sciences news in San Diego. A very big week. So without further ado: —Salix Pharmaceuticals (NASDAQ: [[ticker:SLXP]]) of Raleigh, NC, said it’s buying San Diego-based Santarus (NASDAQ: [[ticker:SNTS]]) in a deal valued at $2.6 billion. Santarus, founded in 1996, has built up a diverse portfolio of drugs for … Continue reading “San Diego Life Sciences Roundup: Santarus, Cytori, IPOs, and More”
Science of Bioinspiration Is Spreading, But Lacks Commercial Teeth
Can innovators learn anything about sustainability from the minimalist lifestyle of a two-toed sloth? This question occurred to me Wednesday during the Fourth Annual Bioinspiration Conference in San Diego, while an educator from the San Diego Zoo held an irresistibly cute sloth during a session break billed as an “animal presentation.” We were told the … Continue reading “Science of Bioinspiration Is Spreading, But Lacks Commercial Teeth”
Plug and Play Offers San Diego Startups a Bridge to Silicon Valley
They departed. They saw. And then they came back. The inaugural class of startups from San Diego to be admitted to a 10-week “startup camp” established by the Plug and Play Tech Center in Sunnyvale, CA, has returned home. Five of the eight companies chosen to participate in the first Plug and Play San Diego … Continue reading “Plug and Play Offers San Diego Startups a Bridge to Silicon Valley”
San Diego’s Celladon Sets Price Range for IPO Shares
Another San Diego life sciences company is taxiing toward an IPO takeoff. Celladon, a biotechnology company targeting heart disease, disclosed plans to offer 5 million shares of its stock at a price range of $14 to $16 a share, according to a regulatory filing. At the mid-range price of $15 a share, Celladon would raise … Continue reading “San Diego’s Celladon Sets Price Range for IPO Shares”
San Diego’s Tandem Diabetes Sets IPO Terms
San Diego’s Tandem Diabetes Care set the terms for its IPO yesterday, offering more than 7.1 million shares of its stock at a price between $13 and $15 a share, according to an amended regulatory filing. The medical device maker was not among the companies expected to go public this week, according to a list … Continue reading “San Diego’s Tandem Diabetes Sets IPO Terms”
Lytx Name Change Reflects New Direction for San Diego’s DriveCam
San Diego-based DriveCam, which is 15 years old and has more than 240 employees, is heading in a new direction. The company says it is changing its name to Lytx—as in analytics—in anticipation of a new business initiative to broaden and diversify its core business, which uses dashboard video cameras and telematics technologies to analyze … Continue reading “Lytx Name Change Reflects New Direction for San Diego’s DriveCam”
Qualcomm in Talks to Fund Robotics Initiative at UC San Diego
San Diego-based Qualcomm (NASDAQ: [[ticker:QCOM]]) and Brain Corp., the Qualcomm-backed startup developing technology that emulates the human brain, are in talks to provide funding for a broadly based initiative in robotics at UC San Diego. “We are working on building a robotics institute, robotics lab, and (more importantly) a robotics incubator,” writes Eugene Izhikevich, Brain … Continue reading “Qualcomm in Talks to Fund Robotics Initiative at UC San Diego”