There are a lot of dismal stats in a wrap-up of 2012 venture capital activity from the National Venture Capital Association that is making the rounds. As we’ve reported, total VC investments declined nationwide last year by 10 percent from 2011. The number of active U.S. firms is less than half the 1,035 counted in … Continue reading “Three VCs See New Opportunities as Changes Roil Venture Industry”
Author: Bruce V. Bigelow
SD Software Group Looks for New Direction with Leader’s Departure
Bob Slapin says he was on the board of the San Diego Software Industry Council in 2000, after the dot-com bubble broke, and Internet companies were suddenly in dire straits. “We had just an administrator at that time, and the board said we need a business person to turn things around, and I said I’ll … Continue reading “SD Software Group Looks for New Direction with Leader’s Departure”
Telcentris Plans Global Expansion, Fueled by $5.3M from SBD Global
Telcentris, which provides voice over Internet Protocol (VoIP) services through its VoxOx technology platform, has raised $5.3 million from SBD Global Fund in what Telcentris describes as its first round of institutional funding. Telcentris said it plans to use the capital to expand its mobile strategy. Users can download a VoxOx app onto their desktop … Continue reading “Telcentris Plans Global Expansion, Fueled by $5.3M from SBD Global”
San Diego Venture Funding Plunges in Fourth-Quarter; Our Top 10 Deals
Venture investing in San Diego, which sprinted through the first nine months of 2012, was flagging in the fourth quarter home stretch, according to the MoneyTree Report released today. Venture firms invested just $174.6 million in 24 startups during the last three months of the year, marking a 41 percent plunge in funding compared with … Continue reading “San Diego Venture Funding Plunges in Fourth-Quarter; Our Top 10 Deals”
San Diego Life Sciences Roundup: Illumina, Santarus, Accelrys, & More
This week’s assortment of San Diego life sciences news includes a sweet CEO interview, a dollop of FDA approval, a savory corporate acquisition, and other morsels for your enjoyment. Best of all, our news is zero calorie—and it begins now. —One interesting tidbit of life sciences news occurred earlier this month, when Roche Chairman told … Continue reading “San Diego Life Sciences Roundup: Illumina, Santarus, Accelrys, & More”
2012 VC Funding Strong in Software, Soft Elsewhere: The Top 10 Deals
Venture capital investments receded nationwide in 2012, with double-digit decreases in funding for new cleantech and life sciences companies weighing upon the $26.5 billion that was invested in 3,698 companies nationwide. It marked a 10 percent slide from the $29.5 billion that VCs invested in 2011, with the deal count declining 6 percent (from 3,937), … Continue reading “2012 VC Funding Strong in Software, Soft Elsewhere: The Top 10 Deals”
Achates Claims Huge Gains in Fuel Efficiency of Opposed-Piston Design
Achates Power was founded in 2004 with the idea of re-engineering the opposed-piston, two-stroke engine, a design that has been used in ships and submarines, aircraft, trucks, and other vehicles for more than 100 years. Such engines fell out of favor with the adoption of stricter tailpipe emission standards during the 1970s. But Achates founder … Continue reading “Achates Claims Huge Gains in Fuel Efficiency of Opposed-Piston Design”
Sanford-Burnham’s CEO Sees Incredible Opportunity in Move to Roche
John Reed says his decision to resign as CEO of Sanford-Burnham Medical Research Institute was not planned—but came about with an offer to join the Swiss pharmaceutical giant—and he cited both personal and professional reasons for leaving the San Diego institute. The Sanford-Burnham, which Reed joined 21 years ago as a rising star in cancer … Continue reading “Sanford-Burnham’s CEO Sees Incredible Opportunity in Move to Roche”
Roche Recruits Sanford-Burnham CEO John Reed to Head Pharma Research
John Reed, who led San Diego’s Sanford-Burnham Medical Research Institute during a period of extraordinary growth, has resigned as CEO to become the head of pharmaceutical research and early development at Roche, the Swiss pharma giant. Kristiina Vuori, who has served as the institute’s president for nearly three years, was named interim CEO, according to … Continue reading “Roche Recruits Sanford-Burnham CEO John Reed to Head Pharma Research”
The Story Behind the Story: Why the Qualcomm Study is Important
Mark Cafferty, CEO of the San Diego Regional Economic Development Corp. (EDC), said the local media seemed a little nonplussed when he stepped to the lectern Friday to announce that Qualcomm (Nasdaq:[[ticker:QCOM]]) has a huge economic presence in San Diego. After the news conference, as TV reporters were recording their standup bits outside Qualcomm’s headquarters, … Continue reading “The Story Behind the Story: Why the Qualcomm Study is Important”
San Diego Life Sciences Roundup: Trius, CoDa, Zacharon, & More
The annual International CES in Las Vegas again featured a Digital Health Summit, which included a number of San Diego-based startups. Rick Valencia of Qualcomm Life posted an interesting blog here, and an end-of-year report from Rock Health showed that investments in digital health startups increased more than 44 percent in 2012, to $1.4 billion … Continue reading “San Diego Life Sciences Roundup: Trius, CoDa, Zacharon, & More”
Anametrix Names CMO Thorogood as CEO, Replacing Founder Barrelet
After three years at the helm of San Diego analytics startup Anametrix, founder Blaise Barrelet has stepped aside as CEO, succeeded by Pelin Thorogood, the company’s chief marketing officer and a 20-year marketing and analytics strategist. Anametrix already is a global provider of Web-based marketing analytics for B2C companies. The change occurred over the holidays, … Continue reading “Anametrix Names CMO Thorogood as CEO, Replacing Founder Barrelet”
After Clinical Trial Setback, San Diego’s MediciNova Sets New Course
MediciNova (NASDAQ: [[ticker:MNOV]]) didn’t have much of a fallback strategy last May, when the San Diego biotech reported that a mid-stage trial of bedoradrine sulfate for intravenous treatment of acute asthma attacks “did not statistically meet the primary endpoint.” Investors responded by voting with their feet, hitting the exit in a sell-off that cut the … Continue reading “After Clinical Trial Setback, San Diego’s MediciNova Sets New Course”
PatientSafe Raises $20M to Push Market Adoption of Health IT Device
San Diego’s PatientSafe Solutions, which developed a handheld smart device to improve nursing care, says today it has raised $20 million in a Series C round of financing led by the Merck Global Health Innovation fund. Existing investors TPG Capital, Camden Partners, and Psilos Group joined in the round. PatientSafe introduced its flagship health IT … Continue reading “PatientSafe Raises $20M to Push Market Adoption of Health IT Device”
SD Life Sciences Roundup: Organovo, Aethlon, & Deals, Deals, Deals
San Diego’s life sciences community saw a spurt of venture deals over the past week. We’ve got a roundup for everyone who’s been on vacation. —Ignyta, a San Diego startup focused on improving the diagnosis and treatment of rheumatoid arthritis and other autoimmune disorders, said it had raised a total of $6 million for its … Continue reading “SD Life Sciences Roundup: Organovo, Aethlon, & Deals, Deals, Deals”
Latest Venture Funding Deepens Independa’s Ties with LG Electronics
Independa, the San Diego startup developing Web-based services for the elderly, says today it has closed its Series A financing at $5 million. In a telephone interview this afternoon, Independa CEO Kian Saneii says the round is more of a round-up that includes all of the company’s prior equity funding, the conversion of $2.35 million … Continue reading “Latest Venture Funding Deepens Independa’s Ties with LG Electronics”
City Hill Leads $6M Financing to Pioneer RA Diagnostics at Ignyta
San Diego-based Ignyta, founded in 2011 as NexDx with a focus on improving the diagnosis and treatment of rheumatoid arthritis, says today its Series B financing has expanded to $5.5 million—about $2.5 million more than its original target. With a $500,000 loan provided in June by Silicon Valley Bank, Ignyta says its Series B financing … Continue reading “City Hill Leads $6M Financing to Pioneer RA Diagnostics at Ignyta”
Some Xconomy San Diego Predictions for 2013
Editor’s note: As a New Year’s exercise, we asked a select group of Xconomists to answer this question: “What does your gut tell you will happen in 2013, even though you don’t have data to prove it? Here’s a sampling from several San Diego Xconomists: Ramesh Rao: Surreptitious behavioral data gathering and the appearance of … Continue reading “Some Xconomy San Diego Predictions for 2013”
An Xconomy Experiment in Crowdfunding, Colorado Style
Back in 2007, when Bob Buderi tapped out the first news story for the Xconomy Boston website, he wrote, “Ours is a grassroots endeavor, supported by some of the world’s great innovators and business leaders.” Our founding CEO and editor-in-chief took their lessons of entrepreneurship to heart—assembling a team of extraordinarily talented journalists who have … Continue reading “An Xconomy Experiment in Crowdfunding, Colorado Style”
With New SD Factory, Soitec Joins Top 3 U.S. Solar Panel Makers
In his first official proclamation, newly elected San Diego Mayor Bob Filner declared today as “Soitec Day” in the nation’s eighth largest city, capping a grand opening ceremony for a new solar panel factory completed here recently by Soitec, the French semiconductor manufacturer. The automated plant was designed to make concentrating photovoltatic (CPV) solar panels … Continue reading “With New SD Factory, Soitec Joins Top 3 U.S. Solar Panel Makers”
Roambi Sees 2013 as Pivotal Year for Data Analytics, Visualization
We all know the tide of “big data” has been rising, and there is no shortage of companies applying analytics and data visualization tools to help business leaders and other people make better decisions. Nevertheless, the Roambi mobile visualization technology that Solana Beach, CA-based Mellmo has developed for Apple iOS stands apart in terms of … Continue reading “Roambi Sees 2013 as Pivotal Year for Data Analytics, Visualization”
After Strikeout, San Diego’s MEI Pharma Looks to Rebuild Confidence
Sometimes, innovation companies operate in stealth mode to keep the technology they’re developing out of the limelight. And sometimes, companies maintain a low profile until they’re ready to present their best case to shareholders, potential investors, and others. Such is the case with San Diego’s MEI Pharma (Nasdaq: [[ticker:MEIP]]), a cancer drug development company originally … Continue reading “After Strikeout, San Diego’s MEI Pharma Looks to Rebuild Confidence”
San Diego Life Sciences Roundup: Acadia, Zogenix, Isis, & More
It was a big week for news from San Diego’s public life sciences companies. We have all the deals, dollars, and developments wrapped up here. —San Diego’s Acadia Pharmaceuticals (Nasdaq: [[ticker:ACAD]]) said it’s raising $86.4 million through a private stock placement that is expected to close Monday. As Xconomy recently reported, Acadia reported encouraging results … Continue reading “San Diego Life Sciences Roundup: Acadia, Zogenix, Isis, & More”
Initiative Opens Plug and Play Startup Camp, and $25K, to SD Startups
Silicon Valley’s Plug and Play Tech Center has opened its Startup Camp program to San Diego-based seed-stage companies under a new initiative organized by StartupCircle and Alex Roudi, a San Diego real estate investor. San Diego companies that qualify for the Startup Camp program also would be eligible for $25,000 in startup funding, according to … Continue reading “Initiative Opens Plug and Play Startup Camp, and $25K, to SD Startups”
BeyondTrust Acquires NY’s Blackbird Group, Deepens AD Security
BeyondTrust, the Carlsbad, CA-based network security provider, says today it has acquired the Blackbird Group, a New York specialist in Windows Active Directory (AD) systems management and auditing software. Financial terms were not disclosed. The deal is the latest in an acquisition spree by BeyondTrust, a specialist in software that controls user privileges and helps … Continue reading “BeyondTrust Acquires NY’s Blackbird Group, Deepens AD Security”
Pernix Buyout Ends Generic Nightmare for Sleeping Pill Maker Somaxon
Embattled Somaxon Pharmaceuticals (Nasdaq: [[ticker:SOMX]]), which came under pressure from generic rivals just eight months after launching its first commercial drug, has agreed to merge with Pernix Therapeutics Holdings (NYSE: [[ticker:PTX]]) in a deal valued at $25 million. Pernix, based in suburban Houston, agreed to issue $25 million in shares of its common stock to … Continue reading “Pernix Buyout Ends Generic Nightmare for Sleeping Pill Maker Somaxon”
Isis Pharmaceuticals Adds More Deals to Partnership Portfolio
Isis Pharmaceuticals (Nasdaq: [[ticker:ISIS]]) has long followed a strategy of spreading its broad drug development program (the company lists 21 drugs in clinical trials) among a variety of pharmaceutical partners. It’s a strategy that enables Isis to generate a diverse stream of revenue from license fees, milestone payments, royalties, profit-sharing, and other payments, while optimizing … Continue reading “Isis Pharmaceuticals Adds More Deals to Partnership Portfolio”
Fred Cutler: A Life Behind the Scenes of the Computer Revolution
I reached out yesterday to Fred Cutler’s family for a little more information about Fred’s career, how he came to San Diego, and what he did after supporting technology entrepreneurship for three years at the helm of Connect. As I’ve reported, Fred Cutler died Dec. 2 in Madison, WI. His son Dave responded with an … Continue reading “Fred Cutler: A Life Behind the Scenes of the Computer Revolution”
Cancer Claims Fred Cutler, SD Internet Executive and Connect Leader
Fred Cutler, a longtime San Diego marketing executive and consultant who spent several years as director of Connect, the San Diego nonprofit group for technology entrepreneurship, has died after a battle with cancer, according to a memorial website sponsored by his family. Duane Roth, who was named in 2004 as Connect CEO, disclosed his predecessor’s … Continue reading “Cancer Claims Fred Cutler, SD Internet Executive and Connect Leader”
San Diego Connect’s 2012 Most Innovative Product Award Winners Are…
Connect, the nonprofit San Diego group supporting technology entrepreneurship, marked the 25th anniversary of its annual Most Innovative Products Awards Friday, recognizing nine companies and two individuals. The awards program was conceived as a way to highlight local innovations brought to market in the previous 18 months. More than 800 people attended the luncheon at … Continue reading “San Diego Connect’s 2012 Most Innovative Product Award Winners Are…”
San Diego Life Sciences Roundup: Optimer, Volcano, Avelas Bio, & More
San Diego’s life sciences community experienced an early December flurry of deals over the past week, led by Optimer, Volcano, Avelas Bio, and Biomatrica. We’ve got that and more. —Optimer Pharmaceuticals (Nasdaq: [[ticker:OPTR]]), which recently opened a new headquarters in Jersey City, NJ, said it had signed an agreement with AstraZeneca to commercialize Optimer’s fidaxomicin … Continue reading “San Diego Life Sciences Roundup: Optimer, Volcano, Avelas Bio, & More”
Tealium’s Incoming CEO Sets Goal to Be San Diego’s Next Big Deal
Jeff Lunsford says when he oversaw the IPO of WebSideStory back in 2004, the San Diego Web analytics company was only the third company to go public with a business model based on the idea of providing software as a service (SaaS). “We were right behind Salesforce.com and RightNow Technologies,” Lunsford said, referring to the … Continue reading “Tealium’s Incoming CEO Sets Goal to Be San Diego’s Next Big Deal”
Avelas Bio Raises $7.65M to Advance Fluorescing Diagnostic for Cancer
San Diego’s Avelas Biosciences says today it has closed on $7.65 million in a Series A financing round—raised entirely from San Diego-based Avalon Ventures—to advance the use of fluorescing tags that change color in the presence of cancer cells. The technology, developed by the Nobel laureate Roger Tsien, is initially intended for use in fluorescence-guided … Continue reading “Avelas Bio Raises $7.65M to Advance Fluorescing Diagnostic for Cancer”
With EPOS Purchase, Qualcomm Reveals Growing Presence in Israel
Brian Sagi of San Diego’s Cerian Technology Ventures has pulled together a few disparate threads of mobile technology news that offer some interesting insights about recent initiatives by Qualcomm (NASDAQ: [[ticker:QCOM]]), the wireless technology giant. Cerian provides a variety of services in technology-based transactions. Sagi says his firm was hired to serve as a strategic … Continue reading “With EPOS Purchase, Qualcomm Reveals Growing Presence in Israel”
San Diego’s Volcano Paying $36M+ for Menlo Park’s Crux Biomed
San Diego vascular device maker Volcano Corp. (NASDAQ: [[ticker:VOLC]]) today disclosed an agreement to pay at least $36 million for Menlo Park, CA-based Crux Biomedical. The Crux deal comes just a few weeks after Volcano said it was acquiring Israeli imaging software developer Sync-Rx for $17.3 million. Volcano specializes in devices that improve the diagnosis … Continue reading “San Diego’s Volcano Paying $36M+ for Menlo Park’s Crux Biomed”
San Diego Life Sciences Roundup: Acadia, RQx, and Venture Funding
Venture funding for life sciences startups has been gradually declining in recent years, and Xconomy’s Luke Timmerman took a look at what that means in biotech hubs in San Diego and elsewhere. We have that news and more. —The price of shares in Acadia Pharmaceuticals (Nasdaq: [[ticker:ACAD]]) more than doubled (to more than $5 a … Continue reading “San Diego Life Sciences Roundup: Acadia, RQx, and Venture Funding”
With New Antibiotic in Hand, RQx Pharmaceuticals Looks for Partner
The genesis of San Diego’s RQx Pharmaceuticals began in 2010, with a chance encounter by two strangers at Zumbar Coffee & Tea in Sorrento Valley. Floyd Romesberg says he likes to start his day at Zumbar because it’s a good place to get some paperwork done before he heads into The Scripps Research Institute, where … Continue reading “With New Antibiotic in Hand, RQx Pharmaceuticals Looks for Partner”
In Comeback Study, Acadia Says Drug Controls Parkinson’s Psychosis
Clinical trials of a new drug intended to control hallucinations associated with advanced Parkinson’s disease also have become a trial in perseverance for San Diego’s Acadia Pharmaceuticals (Nasdaq: [[ticker:ACAD]]). Despite a big setback three years ago, the company is reporting some encouraging results today in a comeback study evaluating the efficacy, tolerability, and safety of … Continue reading “In Comeback Study, Acadia Says Drug Controls Parkinson’s Psychosis”
San Diego’s Antengo Marching to Next Round in Mobile Classified Ads
Marcus Wandell tells me he was attending a music festival in New York City’s Lower East Side in 2009, “getting price-gouged on a $12 beer,” when he came up with the idea for Antengo. What if there was a mobile app that could help you find the nearby places to buy a less-expensive beer? Since … Continue reading “San Diego’s Antengo Marching to Next Round in Mobile Classified Ads”
San Diego Life Sciences Roundup: Allergan, Qualcomm Life, & More
We saw a spate of funding deals and other activity in the week or so preceding Thanksgiving. Here’s our roundup of life sciences news, with best wishes from Xconomy for your Thanksgiving holiday. —Allergan (NYSE: [[ticker:AGN]]), the Irvine, CA-based multi-specialty healthcare company, said it has agreed to pay $350 million upfront to buy the skin … Continue reading “San Diego Life Sciences Roundup: Allergan, Qualcomm Life, & More”
The Road Not Taken and Genomatica’s Renewable Chemicals Strategy
A few weeks ago, BP cancelled a $350 million project in Highlands County, FL, that was supposed to produce 36 million gallons of ethanol a year from “energy grasses” and other high-cellulose plants. In a statement at the time, the global energy conglomerate said it was refocusing its U.S. biofuels strategy on research and development—and … Continue reading “The Road Not Taken and Genomatica’s Renewable Chemicals Strategy”
Meet with… Thomas, McNerney & Partners @ Janssen Labs
Through the “Meet with…” Series, Prescience International provides emerging companies with greater access to partnering and/or financing opportunities. Three members of the Thomas, McNerney & Partners’ team will attend this session to give an overview presentation about their key areas of interest, current portfolio, and best practices in venture capital. More info and online registration … Continue reading “Meet with… Thomas, McNerney & Partners @ Janssen Labs”
Qualcomm Throws Up Some Big Numbers, Sees Double-Digit Growth Ahead
With 300 million smartphones sold worldwide during the first six months of this year, Qualcomm CEO Paul Jacobs is feeling bullish about industry trends that are carrying the wireless giant to record revenues, profits, and mobile chip shipments. Jacobs told financial analysts who gathered at the company’s San Diego headquarters yesterday he expects Qualcomm will … Continue reading “Qualcomm Throws Up Some Big Numbers, Sees Double-Digit Growth Ahead”
Janssen Forms “Investigator Databank” to Help Streamline Drug Trials
In a bid to ease the administrative burden on the scientists who run clinical trials, J&J’s Janssen Research & Development is today unveiling a global initiative to standardize and share key information that drug companies require to vet clinical trial sites and ensure they meet industry requirements. The effort is part of a broader attempt … Continue reading “Janssen Forms “Investigator Databank” to Help Streamline Drug Trials”
Keeping Web Focus, Social Leverage Raising $15M for Micro VC Fund
Howard Lindzon, the entrepreneur, hedge fund investor, and CEO of Coronado, CA-based StockTwits, is raising capital for a new and slightly more formalized version of Social Leverage, an investment partnership he runs with Tom Peterson of Phoenix, AZ. Lindzon told me recently the two have been successful enough in recent years to attract interest from … Continue reading “Keeping Web Focus, Social Leverage Raising $15M for Micro VC Fund”
Epic Sciences Raises $13M, Advances Ultra-Sensitive Cell Diagnostics
[Corrected 11/14/12, 3:45 pm. See below.] Epic Sciences, a San Diego startup developing diagnostics to identify and analyze tumor cells and other rare cells from a blood sample, has raised $13 million in a Series B round of financing. Investors include Domain Associates, Roche Venture Fund, and Pfizer Venture Investments, and undisclosed individual investors, according … Continue reading “Epic Sciences Raises $13M, Advances Ultra-Sensitive Cell Diagnostics”
San Diego Life Sciences Roundup: Deals at MEI Pharma, Auspex, Ambit
It was a good week for raising capital in San Diego’s life sciences community. We have a rundown of the big deals and other news, too. —San Diego’s MEI Pharma (Nasdaq: [[ticker:MEIP]]), a cancer drug developer headed by former Favrille founder Dan Gold, arranged a private financing with Vivo Ventures and New Leaf Venture Partners, … Continue reading “San Diego Life Sciences Roundup: Deals at MEI Pharma, Auspex, Ambit”
Auspex Raises $25M for Longer-Lasting, Deuterium-Based Drugs
At San Diego’s Auspex Pharmaceuticals, CEO Larry Fritz is overseeing a drug development program based on a fairly simple premise: If an FDA-approved small molecule drug is susceptible to metabolic enzymes in the body that break down its hydrogen bonds, wouldn’t substituting some deuterium atoms make those bonds stronger and longer-lasting? Deuterium is a stable … Continue reading “Auspex Raises $25M for Longer-Lasting, Deuterium-Based Drugs”
With $2.3M in New Funding, Bump Network Steers to Business
[Clarified 11/8/12, 9:30 am. See below.] Web entrepreneur Mitch Thrower is bumping up the funding at San Diego’s Bump.com, the online social network for people with cars. Bump.com’s parent company, the Bump Network, says it has closed on $2.3 million in a second Series B round of financing. Investors include TomorrowVentures, the investment vehicle for … Continue reading “With $2.3M in New Funding, Bump Network Steers to Business”
San Diego’s 3D Robotics Raises $5M as Wired Editor Resigns to Be CEO
Chris Anderson, who resigned a few days ago as the editor in chief of Wired magazine to become the full-time CEO of 3D Robotics, says today the San Diego-based superstore for amateur UAVs (unmanned aerial vehicles) has raised $5 million in venture funding. In an announcement posted on the 3D Robotics website and at DIY … Continue reading “San Diego’s 3D Robotics Raises $5M as Wired Editor Resigns to Be CEO”