Royal DSM, the Dutch multinational industrial conglomerate, officially opened a new office in San Diego yesterday, exactly one year after acquiring food enzymes and oilseed processing assets from San Diego-based Verenium in a deal valued at $37 million. While the DSM outpost in Southern California has only a dozen employees, including eight from Verenium, it … Continue reading “From San Diego Deal, DSM Plans Industrial Biotechnology Expansion”
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.
Live! Anderson & Ferrara Headline Rock Stars of Innovation Summit
Recession gripped the nation in early 2009, and many startups in San Diego were locked in a desperate struggle to survive. So Connect CEO Duane Roth inaugurated a showcase event for local startups that was initially billed as The La Jolla Research & Innovation Summit. Roth defied conventional wisdom, which was intimidated by the liquidity … Continue reading “Live! Anderson & Ferrara Headline Rock Stars of Innovation Summit”
San Diego Life Sciences Roundup: Health IT, Illumina, & More
San Diego’s digital health community was following a three-day hearing on health IT held in Washington D.C. The House Subcommittee on Oversight and Investigations said it was focused on potential regulations and taxes on smartphones, tablets, mobile apps and other health-related IT. My roundup of the rest of San Diego’s life sciences news is below. … Continue reading “San Diego Life Sciences Roundup: Health IT, Illumina, & More”
Pyxis Founder Ron Taylor Joins Connect Entrepreneur Hall of Fame
To the fictional emergency room staff on the Showtime TV series “Nurse Jackie,” the computerized drug dispenser is a source of mischief and dramatic suspense, often referred to as “the Pyxis” or “Pill-o-Matic,” and sometimes as “Not a candy machine!” But to Ron Taylor, the Pyxis Medstation is a real-life San Diego success story. In … Continue reading “Pyxis Founder Ron Taylor Joins Connect Entrepreneur Hall of Fame”
Study Says Medical Device Interoperability Could Save $30B a Year
Like a proverbial Tower of Babel, hospitals nowadays come with medical devices that are unable to share critical data—but innovation enabling health care equipment and systems to share information could save more than $30 billion a year in healthcare costs. That’s the conclusion of a new analysis conducted by the San Diego-based West Health Institute. … Continue reading “Study Says Medical Device Interoperability Could Save $30B a Year”
UCSD Business School’s Venture Fund Joins Texas Startup’s $16M Deal
After launching its student-run Rady Venture Fund three years ago, UCSD’s Rady School of Management says today it has invested $25,000 in its biggest deal so far—a $16 million Series B investment in Savara Pharmaceuticals of Austin, TX. Savara, founded in 2007, is in mid-stage development of an inhaled antibiotic to treat methicillin-resistant Staphylococcus aureus … Continue reading “UCSD Business School’s Venture Fund Joins Texas Startup’s $16M Deal”
Sapphire Energy Signs Deal with Tesoro, Begins Year-Round Production
San Diego-based Sapphire Energy says today it has agreed to supply crude oil produced from algae at its “Green Crude Farm” near Columbus, NM, under a new commercial agreement with Tesoro, the independent oil company based in San Antonio, TX. Sapphire says it also has begun year-round production of algae-based crude oil at its New … Continue reading “Sapphire Energy Signs Deal with Tesoro, Begins Year-Round Production”
ViaSat Enrolls 285K in Internet Satellite Service; CEO Talks Costs
As the “Satellite 2013” conference gets underway this week in Washington D.C., Carlsbad, CA-based ViaSat (NASDAQ: [[ticker:VSAT]]) says more than 285,000 subscribers have signed up for its satellite-based Internet service, which began just over a year ago. In a statement yesterday, ViaSat chairman and CEO Mark Dankberg said, “Our results prove that driving down the … Continue reading “ViaSat Enrolls 285K in Internet Satellite Service; CEO Talks Costs”
San Diego Life Sciences Roundup: Ambit, Lithera, Histogen, & More
Here’s our wrap up of the latest developments in San Diego’s life sciences community. —The increasing importance of emerging markets to portfolio companies of life sciences VC Domain Associates led partner Brian Halak to create a new business model in China. Domain, which has offices in San Diego and Princeton, NJ, joined forces the Beijing-based … Continue reading “San Diego Life Sciences Roundup: Ambit, Lithera, Histogen, & More”
New Domain Partnership Focuses on China’s Emerging Healthcare Market
Domain Associates, the life sciences venture firm based in San Diego and Princeton, NJ, says today it has formed a partnership with the Beijing-based firm Elite Consulting to license biomedical products and technologies from the West, and to help commercialize those technologies in China. The exclusive partnership, called Domain Elite, intends to in-license rights to … Continue reading “New Domain Partnership Focuses on China’s Emerging Healthcare Market”
With Kythera as Model, Lithera Tests Drug to Shrink ‘Love Handles’
At the end of last year, the venture fund established by Domain Associates and Russia’s Rusnano disclosed that they had invested $20.6 million in San Diego-based Lithera, an aesthetic biotech developing a drug to reduce the fat tissue that builds up under the skin. Now the six-year-old startup is taking the next step. In a … Continue reading “With Kythera as Model, Lithera Tests Drug to Shrink ‘Love Handles’”
Ambit Still Committed to Leukemia Drug After Astellas Ends Pact
[Corrected 3/12/13, 11:55 pm. See below.] They say that breaking up is hard to do. Ambit Biosciences knows that it’s true. After Japan’s Astellas Pharma said last night it had exercised its right to terminate their worldwide licensing agreement, Ambit spokesman David Schull says San Diego-based Ambit remains “fully committed” to moving ahead with mid-stage … Continue reading “Ambit Still Committed to Leukemia Drug After Astellas Ends Pact”
Histogen Forms Joint Venture to Advance Regenerative Orthopedics
San Diego-based Histogen, a regenerative medicine company founded in 2007, says today it has partnered with a group of medical device investors to establish a joint venture, PUR Biologics, to adapt its expertise in fibroblasts, the cells that form connective tissue, for use in orthopedics. The joint venture is based in Aliso Viejo, CA, in … Continue reading “Histogen Forms Joint Venture to Advance Regenerative Orthopedics”
UCSD Jacobs School of Engineering Research Expo
The annual research expo includes presentations by UC San Diego faculty, a poster session featuring research by UCSD grad students, a job fair, and an ideal opportunity for tech employers to prospect for engineers and computer scientists with advanced degrees. More information and online registration is here.
San Diego Life Sciences Roundup: Life Technologies, Althea, Sorrento
The week’s biggest news just might be a fresh round of rumors concerning a possible buyout at Life Technologies. From the biggest to the smallest, here’s our briefing of San Diego’s life sciences news. —Reports of a possible private equity buyout of Life Technologies (NASDAQ: [[ticker:LIFE]]), the Carlsbad, CA-based provider of gene sequencing equipment and … Continue reading “San Diego Life Sciences Roundup: Life Technologies, Althea, Sorrento”
Japan’s Ajinomoto Acquires Contract Drug Maker Althea Technologies
[Updated 3/7/13 7:34 am to include terms, other details. See below.] Ajinomoto, a Japanese food, pharmaceuticals, and specialty chemicals manufacturer, is acquiring San Diego-based Althea Technologies, a contract manufacturer of drugs, proteins, and injectable products that was founded in 1998. In a statement, Ajinomoto valued the deal, expected to close next month, at about $175 … Continue reading “Japan’s Ajinomoto Acquires Contract Drug Maker Althea Technologies”
LIA Raises $400K for Mobile App Targeting Enterprise-Scale Customers
After a period of relatively rapid software development, San Diego-based LIA has raised $400,000 in seed financing to extend development of its mobile app and secure, Web-based platform for enterprise-scale customers. The convertible loan from two San Diego investors, Analytics Ventures and La Costa Investment Group, will be used to fund another round of software … Continue reading “LIA Raises $400K for Mobile App Targeting Enterprise-Scale Customers”
Synteract Acquires Harrison Clinical Research to Form Global CRO
At the DIA EuroMeeting in Amsterdam today, Synteract, a Carlsbad, CA-based contract research organization (CRO), says it has acquired Harrison Clinical Research, an international CRO based in Munich, Germany. The combined company will operate globally as SynteractHCR, with offices in Western and Eastern Europe, Israel, Russia, South America, and the U.S. Financial terms of the … Continue reading “Synteract Acquires Harrison Clinical Research to Form Global CRO”
Migrating to the Cloud: Secrets of Public Company CIOs
CommNexus has organized this event with experts from Qualcomm, SDG&E, and Amylin Pharmaceuticals. Dr. Timothy Chou, a nationally renowned authority on cloud computing, will be the moderator. Regardless of company industry or size, senior executives are frantically trying to separate cloud fact from cloud fiction. Find out if there is a silver lining to cloud … Continue reading “Migrating to the Cloud: Secrets of Public Company CIOs”
San Diego Life Science Network: Unwind Happy Hour
Unwind—the free happy hour life science networking event for members of the San Diego Life Science Network—is returning with new people, beverages, food, and great music from our house band, The Manic Brothers. Unwind offers an opportunity for partnering, recruitment, vendor selection, and sharing ideas across the life science and medical sectors in a social … Continue reading “San Diego Life Science Network: Unwind Happy Hour”
San Diego Life Sciences Roundup: Optimer, Zogenix, MediciNova, & More
We saw a flurry of updates from San Diego’s biotech and medical device companies over the past week, running the gamut from the formation of a new startup to funding deals and fresh regulatory concerns. Here’s my wrap-up: —Shares of San Diego’s Optimer Pharmaceuticals (NASDAQ: [[ticker:OPTR]]) gained more than 13 percent Wednesday, rising by over … Continue reading “San Diego Life Sciences Roundup: Optimer, Zogenix, MediciNova, & More”
Feds Scrutinizing Stock Grant to Former Optimer Chairman
San Diego’s Optimer Pharmaceuticals (NASDAQ: [[ticker:OPTR]]) said yesterday the filing of its official annual 10-K financial statement would be delayed because of a management shakeup disclosed earlier this week, along with problems related to “processes and procedures.” Optimer has not provided many specifics about the internal problems that first surfaced 11 months ago. But Optimer’s … Continue reading “Feds Scrutinizing Stock Grant to Former Optimer Chairman”
Testing New Business Model, Araxes Pharma Signs Deal with Janssen
In a short announcement yesterday, a previously unknown San Diego startup called Araxes Pharma said it entered into an exclusive partnership with Janssen Biotech of Horsham, PA, to develop a new group of cancer drugs that target an undisclosed signal pathway. Terms of the deal were not disclosed, and CEO Troy Wilson wrote in an … Continue reading “Testing New Business Model, Araxes Pharma Signs Deal with Janssen”
San Diego’s Biotech Leaders of Tomorrow: ‘We Are the Wildcatters’
(Xconomy contributor Juliet Preston helped pull this story together) One more sign that the U.S. life sciences industry is in upheaval became evident last month, when the Chicago real estate group Jones Lang LaSalle issued its 2012 report on life sciences clusters. The study revealed that biomedical clusters in several smaller U.S. cities are gaining … Continue reading “San Diego’s Biotech Leaders of Tomorrow: ‘We Are the Wildcatters’”
Casting a Wide Net, Anametrix Offers Big Clients Holistic Analytics
As an estimated 2,000 online retailers gather in Palm Desert, CA, today for the eTail West Conference, San Diego’s Anametrix says it’s introducing a new mobile app to give its corporate clients mobile access to cloud-based analytics data about their customers. The Anametrix Mobile App, available for iOS, Android, and BlackBerry platforms, is intended to … Continue reading “Casting a Wide Net, Anametrix Offers Big Clients Holistic Analytics”
San Diego Life Sciences Roundup: IPOs, ResMed, Ventrix, CovX, & More
Last week, there was only a trickle of life sciences news out of San Diego. This week the dam broke, and there’s a lot of news—including two IPO filings by San Diego biotechs. —San Diego’s Sophiris Bio, a startup developing a new drug treatment for benign prostate hyperplasia (BPH), or enlarged prostate, plans to raise … Continue reading “San Diego Life Sciences Roundup: IPOs, ResMed, Ventrix, CovX, & More”
With $30M in Financing, Living Proof Primps for More Good Hair Days
Cambridge, MA-based Living Proof says today it has raised $30 million to expand its line of hair care products, and to support the development and commercialization of additional beauty products. In today’s statement, the company says it also has begun its first national marketing campaign with actress Jennifer Aniston and her world famous hair. Living … Continue reading “With $30M in Financing, Living Proof Primps for More Good Hair Days”
Sanitas Gets FDA Clearance to Market ‘Wellaho’ for Chronically Ill
Sanitas, a San Diego health IT startup, said yesterday the FDA has cleared its secure Web and mobile platform for supporting outpatients who are chronically ill. The company submitted a premarket notification for Wellaho, its personalized outpatient management system, in late November. An FDA review agreed in January that Wellaho is a class II medical … Continue reading “Sanitas Gets FDA Clearance to Market ‘Wellaho’ for Chronically Ill”
Sophiris Bio Files $75M IPO, Plans Pivotal Trials of Prostate Drug
San Diego-based Sophiris Bio, which was founded in Vancouver B.C. and already trades on the Toronto Stock Exchange, intends to list its shares on the Nasdaq and raise almost $75 million through an IPO, according to a regulatory filing. The life sciences startup has been developing a new drug treatment for benign prostate hyperplasia (BPH), … Continue reading “Sophiris Bio Files $75M IPO, Plans Pivotal Trials of Prostate Drug”
San Diego Life Sciences Roundup: RQx Pharma, Elcelyx, Lux, & More
Not a heavy week for local life sciences news. Here’s a quick wrap. —San Diego’s RQx Pharmaceuticals said it signed a drug discovery partnership with Genentech, the Roche subsidiary based in South San Francisco, CA, that could result eventually in $111 million in milestone payments. RQx was founded two years ago with about $3.5 million … Continue reading “San Diego Life Sciences Roundup: RQx Pharma, Elcelyx, Lux, & More”
San Diego Opens CyberHive to Incubate Cybersecurity Startups
A cybersecurity initiative that began in San Diego several years ago has taken an interesting turn, with the formation of a new technology incubator for seed-stage companies developing new ways to defend computer networks, software, and data from malicious attacks. The incubator, called CyberHive San Diego, is modeled after a similar cybersecurity accelerator at bwtech@UMBC, … Continue reading “San Diego Opens CyberHive to Incubate Cybersecurity Startups”
Elcelyx Closes on $20M to Advance Appetite-Control Compounds
It’s Valentine’s Day, and San Diego’s Elcelyx Therapeutics is feeling the love. The startup, focused on obesity and diabetes, says today it has closed on $20 million in Series C financing led by the GSM Fund, a dedicated fund managed by former Eastbourne Capital Management portfolio manager Rick Barry. Existing investors Morgenthaler Ventures, Kleiner Perkins … Continue reading “Elcelyx Closes on $20M to Advance Appetite-Control Compounds”
Verve Raises $14M C Round From Qualcomm, Nokia, Blue Run Ventures
Verve Mobile, which provides a Web-based platform that enables its media customers to offer news and advertising to mobile users, says it has raised $14 million in a Series C round led by Nokia Growth Partners, a corporate venture fund of the Finnish wireless giant. Qualcomm Ventures, the corporate investing arm of San Diego-based Qualcomm … Continue reading “Verve Raises $14M C Round From Qualcomm, Nokia, Blue Run Ventures”
Sweden’s Volvo Makes Strategic Investment as DriveCam Goes Global
Volvo Group Venture Capital has made a strategic investment in San Diego-based DriveCam, which marked its fourth year of profitable operations in 2012 with more than $100 million in orders. The amount of Volvo’s investment was not disclosed in the statement today. Volvo Group Venture Capital is part of the Volvo Group, based in Göteborg, … Continue reading “Sweden’s Volvo Makes Strategic Investment as DriveCam Goes Global”
In VC ‘Hat Trick’ for San Diego’s Avalon, RQx Inks Genentech Deal
RQx Pharmaceuticals, founded in 2010 to commercialize a scientific breakthrough with the potential to create a new class antibiotics, has signed a drug discovery collaboration with Genentech, the Roche subsidiary based in South San Francisco. Genentech agreed to pay the San Diego startup an up-front payment, the amount of which was not disclosed, along with … Continue reading “In VC ‘Hat Trick’ for San Diego’s Avalon, RQx Inks Genentech Deal”
SD Life Sciences Roundup: Sotera, Janssen, Tandem Diabetes, & More
I found some interesting nuggets of life sciences news from San Diego over the past week, and I have all the shiny details here. —San Diego’s Sotera Wireless, which won FDA approval last year for a mobile device and related technology for monitoring patient vital signs, said it has raised $14.8 million from Safeguard Scientifics … Continue reading “SD Life Sciences Roundup: Sotera, Janssen, Tandem Diabetes, & More”
Executive Training: From Laboratory to Leadership
This is the second session in a four-day program. With help from Biocom, The Leadership Edge has developed the Laboratory to Leadership Series as a four-day program designed to turn science-minded managers into capable business leaders. These courses are designed exclusively for managers in scientific fields to provide the core management skills needed to fully … Continue reading “Executive Training: From Laboratory to Leadership”
San Diego’s EcoATM Raises $40M to Add 600+ Recycling Kiosks
San Diego’s EcoATM, which operates automated kiosks that enable consumers to recycle their mobile devices, says it has raised $40 million in debt financing from Boston’s Falcon Investment Advisors to expand beyond its existing network of 300 kiosks in 20 states. In the statement, EcoATM chairman and CEO Tom Tullie says, “There’s still a large … Continue reading “San Diego’s EcoATM Raises $40M to Add 600+ Recycling Kiosks”
Is Jon Carder from Mars? The Contrarian Views of Mogl’s Founding CEO
The Mogl headquarters in San Diego is designed around two long tables with dozens of workstations, where staffers manage different aspects of the company’s business—a Web-based platform for cultivating customer loyalty. In one corner, there is a game room with a foosball table and video games. Mogl founder and CEO Jon Carder, who is leading … Continue reading “Is Jon Carder from Mars? The Contrarian Views of Mogl’s Founding CEO”
JMI Equity, IGC Sink $31M for Strategic Growth at WhiteHat Security
WhiteHat Security, the Santa Clara, CA-based Web security company founded in 2001 by Jeremiah Grossman, has closed on $31 million in funding from a new investor, JMI Equity, and Investor Growth Capital, an existing investor. Both firms specialize in expansion stage investments in IT companies. In a statement today, WhiteHat says it secures the Web … Continue reading “JMI Equity, IGC Sink $31M for Strategic Growth at WhiteHat Security”
Legend3D Closes $8M Round; Moves San Diego HQ Closer to Hollywood
Legend3D, which specializes in creating 3D visual effects for cinema and digital media, says today it has closed on $8 million in new funding, shortly after moving its headquarters from San Diego into a new “state-of-the-art, 60,000-square-foot studio in Carlsbad, CA. Augustus Ventures and Northwater Capital Management led the deal, which was described as a … Continue reading “Legend3D Closes $8M Round; Moves San Diego HQ Closer to Hollywood”
Take Lessons Raises $4M in Expanded Round, Plans Expanded Services
After raising $6 million in mid-2011, San Diego’s TakeLessons says today it has raised another $4 million to improve its online services for music teachers and students, and to move into related markets. The follow-on Series A financing, led by Triangle Peak Partners of Palo Alto, CA, brings the company’s total venture funding to more … Continue reading “Take Lessons Raises $4M in Expanded Round, Plans Expanded Services”
San Diego Life Sciences Roundup: Isis, Afraxis, Organovo, & More
Developments at Isis and Afraxis were the main events for the local biotech crowd this week, with Isis winning FDA approval for its first-in-class antisense drug and Afraxis licensing all of its drug compounds to Genentech. Here’s my roundup. —The price of shares in Isis Pharmaceuticals (Nasdaq: [[ticker:ISIS]]) gained 9.8 percent yesterday, closing at $14.69 … Continue reading “San Diego Life Sciences Roundup: Isis, Afraxis, Organovo, & More”
Monsanto Acquires Parts of Agradis, Partners with Synthetic Genomics
Just over 15 months ago, the genomics pioneer J. Craig Venter told me he had decided to spin out some plant breeding and genomics technologies from San Diego’s Synthetic Genomics to form a new agricultural biotech called Agradis. Now the big multinational agricultural giant Monsanto (NYSE: [[ticker:MON]]) says it has purchased certain technology assets from … Continue reading “Monsanto Acquires Parts of Agradis, Partners with Synthetic Genomics”
Organovo Joins with OHSU to Bio-Engineer Cancer Tissue for Drug R&D
Along the way to developing technology for bio-engineering human livers, kidneys, and other vital organs, Organovo CEO Keith Murphy says the San Diego startup realized its 3-D bio-printing technology could be used to address a huge unmet need more immediately. As Murphy explained 18 months ago, Big Pharma companies have been searching for better and … Continue reading “Organovo Joins with OHSU to Bio-Engineer Cancer Tissue for Drug R&D”
FDA OKs First-in-Class Drug From Isis for Rare Cholesterol Disorder
The FDA today approved the cholesterol-lowering drug mipomersen (Kynamro)—the first major RNA therapeutic developed by Carlsbad, CA-based Isis Pharmaceuticals (NASDAQ: [[ticker:ISIS]]). Isis has been developing its lead drug candidate under a 2008 partnership with Cambridge, MA-based Genzyme, now part of the French drug giant Sanofi (NYSE: [[ticker:SNY]]). In a statement released late today, the FDA … Continue reading “FDA OKs First-in-Class Drug From Isis for Rare Cholesterol Disorder”
Afraxis Licenses its Drug Compounds to Roche Subsidiary Genentech
Afraxis, a San Diego biopharmaceutical founded in 2007, says today it has licensed exclusive global rights for all of its proprietary drug compounds to Genentech, the Roche subsidiary based in South San Francisco, CA. While details of the deal were not disclosed, it still counts as an exit. Afraxis says it’s eligible to get as … Continue reading “Afraxis Licenses its Drug Compounds to Roche Subsidiary Genentech”
Khosla Ventures Leads $4.5 Million in Funding for DB Networks
DB Networks, a San Diego database security equipment startup, says today it has raised $4.5 million in a Series B round of venture funding led by Khosla Ventures of Menlo Park, CA. The funding will be used to build sales and marketing for its database security equipment. DB Networks was founded in 2009, and Brett … Continue reading “Khosla Ventures Leads $4.5 Million in Funding for DB Networks”
San Diego Life Sciences Roundup: VC Outlook, Organovo, Life, & More
A spate of stories late last week, including three venture capital partners who gave their outlook for 2013 to the San Diego Venture Group, pushed back my roundup of life sciences news a little. Here’s the wrap up of news over the last week. —Josh Green of Menlo Park, CA-based Mohr Davidow Ventures sees new … Continue reading “San Diego Life Sciences Roundup: VC Outlook, Organovo, Life, & More”
Crowdfunding Helps Bring Xconomy to Colorado; Now Writers Needed
If you’ve spent much time in the Colorado back country, you probably remember feeling a profound sense of elation that comes after hours of relentless upward hiking, when you finally reach the summit and a panorama of the Rocky Mountains opens around you. We’re feeling a little like that now, after learning a crowdfunding initiative … Continue reading “Crowdfunding Helps Bring Xconomy to Colorado; Now Writers Needed”