San Diego’s Mitek Systems, which signaled its plans to move to the Nasdaq exchange a couple of months ago, says its shares will begin trading on Nasdaq Thursday. The move is an added bit of credibility for Mitek, which has emerged over the past two years as a leading provider of mobile payment and transaction … Continue reading “Mitek Moves to Nasdaq”
Author: Bruce V. Bigelow
Sotera Wireless Raises $7M
San Diego’s Sotera Wireless, which specializes in non-invasive technology for measuring patients’ vital signs, has raised $7 million in a combination of debt, rights to acquire securities, and securities, according to a recent regulatory filing. Almost $350,000 in additional funding consists of warrants convertible to preferred shares that have not been exercised. Sotera, which was … Continue reading “Sotera Wireless Raises $7M”
San Diego’s Assay Depot Creates Private e-Commerce Sites for Pfizer, Other Big Pharmas
Entrepreneurs are often advised to stay nimble during the startup years of a new venture, so they can quickly change direction as new business opportunities present themselves. But San Diego’s Assay Depot could qualify as a case study in agility. The venture that began five years ago as a clinical research organization (CRO) dramatically changed … Continue reading “San Diego’s Assay Depot Creates Private e-Commerce Sites for Pfizer, Other Big Pharmas”
Northrop Grumman Leads $15M Round for Daylight Solutions
San Diego’s Daylight Solutions, a six-year-old startup that specializes in mid-infrared laser technology, says today it raised $15 million in a Series C round of equity financing led by Northrop Grumman (NYSE: [[ticker:NOC]]), the Los Angeles defense contractor. The funding comes less than a week after Daylight Solutions said its proprietary semiconductor laser had successfully … Continue reading “Northrop Grumman Leads $15M Round for Daylight Solutions”
Active Network Brings Schwaggle Home
After launching its daily deal program in the Bay Area seven months ago, the Active Network is bringing its Schwaggle program to its hometown San Diego market. The San Diego-based company says its area residents will now be able to access local deals on sports and fitness-related products and services and discount registrations for local … Continue reading “Active Network Brings Schwaggle Home”
Fewer Funds Raise More Capital as Venture Industry Contracts Around “Brand Name” VCs
The U.S. venture capital industry is raising more capital for fewer funds so far this year, continuing a contraction in the number of venture firms, according to a couple of rival surveys released today. While the $2.7 billion raised by VC firms during the second quarter marked a 28 percent increase over the $2.1 billion … Continue reading “Fewer Funds Raise More Capital as Venture Industry Contracts Around “Brand Name” VCs”
San Diego’s Economic Development Leadership Resumes CEO Search, NewBlue Launching Mobile Video Editing Technology, & More San Diego BizTech News
It was an abbreviated week for technology news following the July 4th holiday, so our roundup should be a quick read. —The president and CEO of the Greater Phoenix Economic Council, Barry Broome, had a change of heart less than two days after he was publicly introduced as the new leader of the San Diego … Continue reading “San Diego’s Economic Development Leadership Resumes CEO Search, NewBlue Launching Mobile Video Editing Technology, & More San Diego BizTech News”
Shire Gains West Coast Presence with Advanced BioHealing; Looks to Hire 50
After completing its $750 million acquisition of San Diego-based regenerative medicine company Advanced BioHealing (ABH) on June 28th, Irish drug giant Shire (NASDAQ: SHPGY) is going on a minor hiring binge. ABH plans to hire 50 new employees in San Diego, according to ABH CEO Kevin Rakin. The company now employs 256 people at its … Continue reading “Shire Gains West Coast Presence with Advanced BioHealing; Looks to Hire 50”
Phoenix Biz Leader Backs Out of San Diego Job
Less than two days after publicly accepting the top job at the San Diego Regional Economic Development Corp. (EDC), Barry Broome changed his mind, saying Friday afternoon he had decided to remain in Phoenix, AZ, where he heads the Greater Phoenix Economic Council. EDC leaders introduced Broome to reporters Wednesday morning, saying he would take … Continue reading “Phoenix Biz Leader Backs Out of San Diego Job”
San Diego’s Cadence Gets a Generic Headache, aTyr Pharma Seeks Structure for Diverse Funding, CareFusion Plans Global Expansion, & More San Diego Life Sciences News
Buying, Selling, Agreeing. San Diego’s life sciences companies conducted a lot of different transactions over the past week. We have a rundown for you. —San Diego’s ResMed, which specializes in medical devices used to treat sleep apnea and related breathing disorders, said it acquired BiancaMed, a private Irish maker of sensor technology used to monitor … Continue reading “San Diego’s Cadence Gets a Generic Headache, aTyr Pharma Seeks Structure for Diverse Funding, CareFusion Plans Global Expansion, & More San Diego Life Sciences News”
ResMed Buys Irish Device Company
San Diego’s ResMed (NYSE: [[ticker:RMD]]), which makes continuous positive air pressure devices for managing sleep-disordered breathing, said today it paid cash to acquire all the outstanding shares it doesn’t already own for BiancaMed of Dublin, Ireland. While financial terms were not disclosed, a ResMed spokeswoman told The San Diego Union-Tribune the price was a “significant … Continue reading “ResMed Buys Irish Device Company”
Arizona’s Broome Named to Head San Diego’s Regional Economic Development
Following a nationwide search that considered 300 candidates, the San Diego Regional Economic Development Corp. (EDC) today named a new president and CEO, Barry Broome, who has spent the past six years heading the Greater Phoenix Economic Council. EDC board members who participated in the four-month search process said they paid particular heed to what … Continue reading “Arizona’s Broome Named to Head San Diego’s Regional Economic Development”
FADE IN: NewBlue Founders Bring FX Catalog to Mobile Video Platform
Melissa Jordan Grey and Todor Fay trapped lightning in a bottle when they sold their Atlanta-based music software startup, Blue Ribbon SoundWorks, to Microsoft in 1995 (for an undisclosed amount). As part of the deal, they joined Microsoft (NASDAQ: [[ticker:MSFT]]), which merged their audio editor software with its DirectSound technology. As they tell the story, … Continue reading “FADE IN: NewBlue Founders Bring FX Catalog to Mobile Video Platform”
CareFusion Buying Germany’s Rowa
San Diego-based CareFusion (NYSE: [[ticker:CFN]]) says it has agreed to pay roughly $150 million to acquire Rowa, a German company that makes robotic equipment used in pharmacies for high-speed storage and retrieval of pre-packaged pharmaceutical products. In a statement today, CareFusion Chairman and CEO Kieran Gallahue calls Rowa “the clear pharmacy automation leader in Western … Continue reading “CareFusion Buying Germany’s Rowa”
OncoSec Medical Raises $3M
San Diego’s OncoSec Medical, which trades on the over-the-counter bulletin board as ONCSD, recently raised $3 million through a private stock placement with rights to acquire additional securities at set prices, according to a regulatory filing. In a statement last week, the company says the deal includes a series of warrants that enables the buyer … Continue reading “OncoSec Medical Raises $3M”
Legend 3D Lays Off 15 Percent, Avalon Ventures Holds 6.1 Percent of Zynga, SweetLabs Launches App Platform for PCs, & More San Diego BizTech News
There was no shortage of news from San Diego’s high-tech business front last week. If you’ve been on a holiday the past few days, here’s your chance to get up to speed. —Legend 3D, the San Diego-based 3D film conversion specialist, laid off 15 percent of its local workforce Friday, according to a note I … Continue reading “Legend 3D Lays Off 15 Percent, Avalon Ventures Holds 6.1 Percent of Zynga, SweetLabs Launches App Platform for PCs, & More San Diego BizTech News”
BeyondTrust Buys Security Technology from Likewise Software
Carlsbad, CA-based BeyondTrust said today it has acquired software from Likewise Software of Bellevue, WA, that helps businesses bridge Linux, Unix, and Mac environments to Microsoft Active Directory. Financial terms of the deal for Likewise Open and Likewise Enterprise were not disclosed. Likewise, an open source company that provides a platform for identity, security, and … Continue reading “BeyondTrust Buys Security Technology from Likewise Software”
Amylin Buoyed by Diabetes Trials, Vital Therapies Raises $22.6M, Acutus Medical Gets Seed Cash, & More San Diego Life Sciences News
The Food and Drug Administration, often the center of attention for the U.S. biotech and medical device industries, came under the spotlight a bit more this week amid talk of changing the agency’s mission statement. There also was news from Amylin that should address at least some concerns FDA regulators have raised about its once-a-week … Continue reading “Amylin Buoyed by Diabetes Trials, Vital Therapies Raises $22.6M, Acutus Medical Gets Seed Cash, & More San Diego Life Sciences News”
Maxwell Gets $500K to Advance Ultracapacitor Technologies
San Diego ultracapacitor maker Maxwell Technologies (Nasdaq: [[ticker:MXWL]]), says it’s getting more than $500,000 in government funding to collaborate on energy storage and R&D programs with three other U.S. companies. Maxwell and Yardney Technical products of Pawcatuck, CT, will get $300,000 under a Small Business Innovation Research grant to integrate Maxwell’s high power-density with Yardney’s … Continue reading “Maxwell Gets $500K to Advance Ultracapacitor Technologies”
Hookit Goes Mobile and Hits the Road to Build its Online Brand, Audience
Southern California might well be the coastal lifestyle capital of the U.S., replete with hundreds of action sports and apparel companies, and scores of competitive events for surfers, skateboarders, BMX riders, and other extreme lifestyle sporting events. Connecting the up-and-coming amateurs with prospective corporate sponsors has become the online province of San Diego-based Hookit.com, which … Continue reading “Hookit Goes Mobile and Hits the Road to Build its Online Brand, Audience”
Running Rampant, On-Ramp Wireless Raises $11.5M in Equity Round
San Diego’s On-Ramp Wireless, which has been on quite a romp over the past year or so, recently raised $11.5 million of a planned $14.7 million round from investors, according to a regulatory filing yesterday. The investors were not disclosed in the filing. On-Ramp, which was founded in 2008 to develop low-power wireless networking technology … Continue reading “Running Rampant, On-Ramp Wireless Raises $11.5M in Equity Round”
Cardium to Get Transdel Assets
San Diego-based Cardium Therapeutics (NYSE Amex: [[ticker:CXM]]) said it would acquire substantially all of the business assets of San Diego’s Transdel Pharmaceuticals, including a pain treatment in late-stage clinical trials. Terms of the deal apparently were worked out before Transdel filed for bankruptcy reorganization yesterday. If approved by the federal bankruptcy court, Cardium would provide … Continue reading “Cardium to Get Transdel Assets”
Lilly to Hire 20 in San Diego
Eli Lilly today unveiled a multi-million dollar initiative to expand its biotech R&D in protein engineering, a move that includes hiring biochemists and biologists to work in “multi-specific therapeutics” in San Diego and Indianapolis. A spokeswoman says Lilly plans to hire about 20 scientists in each city. With its extensive expertise in biologics, Lilly says … Continue reading “Lilly to Hire 20 in San Diego”
Debra Reed Takes Over as Sempra Energy CEO
San Diego’s Sempra Energy has named Debra Reed as CEO of the global energy conglomerate, which operates two Southern California utilities and a separate holding company of diversified energy businesses focused on natural gas and power generation. Reed, who also joined Sempra’s board, is the first woman appointed to head Sempra, which posted an annual … Continue reading “Debra Reed Takes Over as Sempra Energy CEO”
With Debut of Pokki Desktop Apps, OpenCandy Founders Create New Corporate Identity
San Diego’s OpenCandy has a new name today—SweetLabs. The change coincides with the beta launch of Pokki, a new platform the company has developed to provide desktop users with an “always on” experience more commonly found among apps for smartphones. “We’re spoiled by having all these incredible apps on our mobile devices,” says Chester Ng, … Continue reading “With Debut of Pokki Desktop Apps, OpenCandy Founders Create New Corporate Identity”
Independa Unveils Integrated App to Link the Independent Elderly with Care-Givers
A little more than two years after Kian Saneii founded Independa, the San Diego wireless health startup says it is making its integrated telecare app, Angela, available Friday for beta testing. The program, which will be generally available in September, provides a very simple interface that enables the elderly to send and receive e-mail, download … Continue reading “Independa Unveils Integrated App to Link the Independent Elderly with Care-Givers”
Verve Wireless Charts Local Media Trends on Mobile Devices
[Corrected 6/27/11 8:25 pm. See Below] When I profiled Verve Wireless almost nine months ago, the Encinitas, CA-based startup was providing its web-based technology for some 750 newspaper publishers and broadcast stations throughout the United States. Today, more than 1,200 local newspapers and broadcasters use Verve’s platform to publish their content and serve ads to … Continue reading “Verve Wireless Charts Local Media Trends on Mobile Devices”
Verenium and Novus Collaborate to Develop New Enzymes for Animal Markets
San Diego-based Verenium, which retained a library of industrial enzymes following last year’s buyout of its cellulosic biofuels business, is announcing a strategic collaboration today with Novus International, a St. Louis, MO-based maker of animal nutrition and health products. The partners plan to jointly develop and commercialize a series of enzymes from Verenium’s late-stage product … Continue reading “Verenium and Novus Collaborate to Develop New Enzymes for Animal Markets”
Qualcomm Moves to Expand Development of Augmented Reality, VCs See More Funding for Cloud Computing, Ortiva Gets $2M, & More San Diego BizTech News
Qualcomm has been funding some impressive R&D work on augmented reality (AR) at its research centers around the world. Could the technology really revolutionize the mobile graphical user interface? It’s time to find out. Your roundup begins now. —Qualcomm’s Jay Wright outlined the San Diego wireless giant’s strategy for advancing augmented reality by encouraging development … Continue reading “Qualcomm Moves to Expand Development of Augmented Reality, VCs See More Funding for Cloud Computing, Ortiva Gets $2M, & More San Diego BizTech News”
A San Diego Sampler from the War on Diabetes
The American Diabetes Association begins its 71st annual scientific conference today at the San Diego Convention Center, drawing more than 13,500 endocrinologists, scientists, and others involved in diabetes research and health care. You could argue that in the comfort of the modern world, the twin epidemics of diabetes and obesity have replaced famine among the … Continue reading “A San Diego Sampler from the War on Diabetes”
GE and VCs Invest $63M in 10 Cleantechs Through “Ecoimagination Challenge”
Fairfield, CT-based GE (NYSE: GE) and four venture capital partners said today they plan to invest a total of $63 million in 10 cleantech companies developing energy-related concepts in solar, communications and software, and building efficiency. The funding represents the second phase of a crowd-sourcing challenge, this time focused on “Powering Your Home,” that GE … Continue reading “GE and VCs Invest $63M in 10 Cleantechs Through “Ecoimagination Challenge””
Inception 1 Raises $5M, VCs Pessimistic About U.S. Biotech Funding, EU Approves Amylin’s Once-a-Week Diabetes Drug, & More San Diego Life Sciences News
It was not a week for a lot of life sciences news, but what we’ve got is pretty interesting. Judge for yourselves; our roundup begins now. —A global survey of venture capitalists released this week reveals substantial pessimism among VCs about venture investment levels in U.S. life sciences startups over the next five years. The … Continue reading “Inception 1 Raises $5M, VCs Pessimistic About U.S. Biotech Funding, EU Approves Amylin’s Once-a-Week Diabetes Drug, & More San Diego Life Sciences News”
VC Survey Highlights Anxiety Over Weak IPO Market
There must be some way out of here, but venture capitalists around the world say the current level of initial public offering (IPO) activity is too anemic to sustain the venture capital industry in the United States and eight other countries, according to a global VC survey. In the United States, 91 percent of the … Continue reading “VC Survey Highlights Anxiety Over Weak IPO Market”
Qualcomm Claims Leadership in Augmented Reality, Sees Huge Potential on Its View Screen
I’ve never been particularly fond of the term “killer app,” which has thankfully receded from the lexicon of tech writers—no doubt from heavy overuse. But during Qualcomm’s Uplinq conference for mobile app developers earlier this month, I was struck by the potential “killerness” of the wireless giant’s initiative in mobile augmented reality, or AR. What … Continue reading “Qualcomm Claims Leadership in Augmented Reality, Sees Huge Potential on Its View Screen”
Genomatica Gets EPA Green Chemistry Award
The U.S. Environmental Protection Agency today gave its Presidential Green Chemistry Challenge Award in five categories, including one to San Diego’s Genomatica, a startup industrial biotech using genetically engineered microbes to produce intermediate chemicals. Genomatica has engineered a bacterium that consumes sugars in a fermentation tank to make 1,4-Butanediol (BDO), a “building block” chemical needed … Continue reading “Genomatica Gets EPA Green Chemistry Award”
Ortiva Raises $2.5 Million
San Diego-based Ortiva Wireless, which specializes in scalable, high-performance technology for optimizing video on wireless networks, has raised $2.5 million in a combination of debt and rights to acquire securities, according to a recent regulatory filing. The company, which intends to raise nearly $3.8 million in this financing, closed its Series C round in venture … Continue reading “Ortiva Raises $2.5 Million”
GenMark Seeks to Raise at Least $30M
GenMark Diagnostics (NASDAQ: [[ticker:GNMK]]), a Carlsbad, CA, maker of automated DNA and RNA diagnostics testing systems, said it plans to raise at least $30 million through a secondary offering of its stock to the public at a price of $4.25 per share. The offering, which is expected to close Wednesday, consists of more than 7 … Continue reading “GenMark Seeks to Raise at Least $30M”
Chumby Plugs Into Connected TV, San Diego Slowly Regaining Jobs, Ecotality Begins Rollout of Public Charging Stations, & More San Diego BizTech News
It was a slow week for tech news in San Diego, perhaps due to a post-Uplinq lull following Qualcomm’s annual conference for wireless app developers. We did find a spurt of cleantech news, however, so plug in, turn on, and tune in. Your Xconomy briefing begins now. —San Diego’s chumby industries, which has developed a … Continue reading “Chumby Plugs Into Connected TV, San Diego Slowly Regaining Jobs, Ecotality Begins Rollout of Public Charging Stations, & More San Diego BizTech News”
E&Y Names Six San Diego Execs as Local Entrepreneurs of Year
Ernst & Young, the global consulting and accounting firm, selected six San Diego executives for its 2011 Entrepreneur of the Year awards on the 25th anniversary of the program, which has expanded to recognize business leaders and entrepreneurs in more than 140 cities and more than 50 countries. The firm also bestowed its San Diego … Continue reading “E&Y Names Six San Diego Execs as Local Entrepreneurs of Year”
UCSD Entrepreneur Challenge Awards Top Honors to NeuroMap
The concept for a life sciences startup put together by neuroscientists, a psychiatrist, and MBA student received the top prize—and $57,000 in cash and services—in UCSD’s fifth annual student-managed business plan competition. The proposal for NeuroMap, a seed-stage life sciences startup, was pulled together by Alexey Terskikh, a neuroscientist specializing in development and aging at … Continue reading “UCSD Entrepreneur Challenge Awards Top Honors to NeuroMap”
BioNanomatrix Moves HQ, Awarepoint CEO Talks Strategy, Ambit Raises $30 Million, & More San Diego Life Sciences News
There seemed to be a spate of financings among San Diego’s life sciences companies in recent weeks, and some local CEOs are telling me more deals are in the works. Your briefing begins now. —San Diego has added another startup to its growing cluster of companies developing next-generation genome sequencing and molecular diagnosis technologies. BioNanomatrix, … Continue reading “BioNanomatrix Moves HQ, Awarepoint CEO Talks Strategy, Ambit Raises $30 Million, & More San Diego Life Sciences News”
Genomatica Looking to Raise $150M
Claiming another milestone on its path to commercialization, San Diego-based Genomatica says it has successfully used a 13,000-liter fermentation tank in Decatur, IL, to produce what it calls a “demonstration-scale” batch of 1,4-Butanediol (BDO), which was previously synthesized through industrial chemical processes. Genomatica said it produced the “Bio-BDO” with partner Tate & Lyle and expects … Continue reading “Genomatica Looking to Raise $150M”
BioNanomatrix Moves HQ and Nano-Scale Analysis Technology to San Diego
BioNanomatrix, a venture-backed molecular analysis startup founded in 2003 with technology licensed from Princeton University, says today it has established its new headquarters in San Diego. The move follows the appointment of R. Erik Holmlin as BioNanomatrix CEO six months ago. Holmlin was previously the CEO at Carlsbad, CA-based GenVault, which was acquired by Pleasanton, … Continue reading “BioNanomatrix Moves HQ and Nano-Scale Analysis Technology to San Diego”
Awarepoint’s New CEO Enacts Plans to Expand Wireless Health Business, Software Portfolio
It’s been a busy seven months since healthcare technology executive Jay Deady took over as the CEO at San Diego’s Awarepoint, which specializes in real time location systems (RTLS) technology for hospitals and other healthcare providers. The company raised about $9 million from its venture investors with Deady’s arrival, and Awarepoint acquired a Charlotte, N.C. … Continue reading “Awarepoint’s New CEO Enacts Plans to Expand Wireless Health Business, Software Portfolio”
End of the Road for Torrey Path as Founder Starts New Trail with Sequencethree
When I profiled Torrey Path in 2009, CEO Peter Dresslar was in the process of moving his software analytics startup from Ann Arbor, MI, to San Diego. The company was focused on providing information services to life sciences companies, and had developed the capability to provide a scientist or research group with all the data … Continue reading “End of the Road for Torrey Path as Founder Starts New Trail with Sequencethree”
Somaxon Raises $5M
San Diego’s Somaxon Pharmaceuticals (NASDAQ: [[ticker:SOMX]]), said today it completed a private placement of nearly 2.2 million shares of its common stock to Paladin Labs, raising a total of $5 million. The company said the deal was part of its collaboration with Paladin, which has exclusive rights to commercialize Somaxon’s doxepin (Silenor) in Canada, South … Continue reading “Somaxon Raises $5M”
Qualcomm Buying Rapid Bridge Assets, Two Local Companies Get DOE Grants, Daily Deals Fuel Growth at Analog Analytics, & More San Diego BizTech News
The wireless news out of San Diego seems to have picked up in recent weeks, with Qualcomm playing a central role in most of the developments. Our briefing is ready for you now. —The world’s largest wireless chipmaker agreed to buy San Diego-based Rapid Bridge’s LiquidCell technology, used to accelerate chip design, but Qualcomm (NASDAQ: … Continue reading “Qualcomm Buying Rapid Bridge Assets, Two Local Companies Get DOE Grants, Daily Deals Fuel Growth at Analog Analytics, & More San Diego BizTech News”
Amid Groupon’s IPO Frenzy, Analog Analytics Offers Old Media a White-Label Life Ring
Much has been blogged about social couponing in recent weeks, from Chicago-based Groupon’s planned IPO, which values the company somewhere between $2 billion and the moon, to the debut of Google Offers in Portland, OR. Yet for all the lip service paid to the phenomenon that includes LivingSocial, BuyWithMe, Tippr, and perhaps hundreds of others … Continue reading “Amid Groupon’s IPO Frenzy, Analog Analytics Offers Old Media a White-Label Life Ring”
Access Scientific Raises $10M
San Diego-based Access Scientific says it has completed a $10 million round of financing led by CAC, a San Diego private equity firm, and the company’s existing institutional investors. In a statement today, Access Scientific says the funds will be used to hire a direct sales and clinical team to help commercialize its product, a … Continue reading “Access Scientific Raises $10M”
Orexigen Halts U.S. Work on Weight Loss Drug, Illumina Cuts Price for Sequencing Patient Genomes, Ambit Pulls IPO, & More San Diego Life Sciences News
As if to make up for the previous week, there’s been a lot of news from local life sciences companies over the past week. So let’s get started. —San Diego’s Orexigen Therapeutics (NASDAQ: [[ticker:OREX]]) said it would halt U.S. development of its experimental diet pill, a combination of naltrexone and bupropion (Contrave) after regulators rebuffed … Continue reading “Orexigen Halts U.S. Work on Weight Loss Drug, Illumina Cuts Price for Sequencing Patient Genomes, Ambit Pulls IPO, & More San Diego Life Sciences News”