San Diego’s BizTech news was slowing down as Christmas approached, so this week’s roundup will be short and sweet. —Drop Down Deals, a San Diego startup funded by a private investment group called Sambreel Holdings, launched a new website to complement the free downloadable Web browser plug-in the company introduced last month. Once loaded on … Continue reading “Nissan Delivers First Leaf EVs, San Diego’s Drop Down Deals Launches Website, Connect Issues its Most Innovative New Product Awards, & More San Diego BizTech News”
Author: Bruce V. Bigelow
Gen-Probe Pays $53M for GTI Diagnostics
San Diego’s Gen-Probe (NASDAQ: [[ticker:GPRO]]), which specializes in molecular diagnostic products and services, says today it paid $53 million in cash to acquire GTI Diagnostics, a Waukesha, WI-based company focused on transplant diagnostics. In a statement this morning, Gen-Probe CEO Carl Hull says, “The acquisition gives us access to growing coagulation and transfusion-related blood bank … Continue reading “Gen-Probe Pays $53M for GTI Diagnostics”
Court Dismisses Illumina Patent Suit
Affymetrix (NASDAQ: [[ticker:AFFX]]), the diagnostics instrument maker based in Santa Clara, CA, won a favorable court ruling that dismissed a patent infringement lawsuit filed against the company by San Diego-based Illumina (NASDAQ: [[ticker:ILMN]]). In a statement yesterday, Affymetrix says the U.S. District Court for the Western District of Wisconsin granted the company’s request for a … Continue reading “Court Dismisses Illumina Patent Suit”
Avalon Sees Two Portfolio Exits
Christmas came early this year for San Diego’s Avalon Ventures, with news that two of its portfolio companies have been acquired. Rackspace Hosting announced today that it has acquired San Francisco-based Cloudkick, which was graduated from Y Combinator’s winter class of 2009 with Web tools that help manage cloud computing environments. On the other side … Continue reading “Avalon Sees Two Portfolio Exits”
Launched in November, Drop Down Deals Already at Profitability
A new San Diego startup, Drop Down Deals, is launching a website today that is intended to complement the free downloadable Web browser plug-in the company officially unveiled last month. The company has developed a clever approach to help online shoppers quickly identify and apply valid discount coupons to their purchases. In an interview a … Continue reading “Launched in November, Drop Down Deals Already at Profitability”
Ramius Buys Cypress Bio, Genoptix Reportedly Exploring Possible Sale, Anaphore Gets Japanese Partner, & More San Diego Life Sciences News
It’s less than 10 days before Christmas, but San Diego’s life sciences community doesn’t seem to be ready for vacation. The business news wires have been crackling with reports of buyouts, rumored buyouts, deals, and major product launches. Fortunately, we’re here to sort it all out for you. —As corporate courtships go, the unsolicited offer … Continue reading “Ramius Buys Cypress Bio, Genoptix Reportedly Exploring Possible Sale, Anaphore Gets Japanese Partner, & More San Diego Life Sciences News”
Italy’s Silicon Bio Establishes San Diego Beachhead
An Italian medical diagnostics company, Silicon Biosystems of Bologna, has established the headquarters for a new U.S. subsidiary in San Diego, according to a statement from the company. Bob Proulx, a local life sciences executive who was previously the director of marketing and business development at CryoPort, will head the newly formed business. Silicon Bio … Continue reading “Italy’s Silicon Bio Establishes San Diego Beachhead”
Cypress Bioscience, After Months of Give and Take, Agrees to a $255M Buyout
After months of rejected offers and dueling media statements, Cypress Bioscience (NASDAQ: [[ticker:CYPB]]) says today it has agreed to a buyout-and-merger deal that will combine the San Diego drug development company with Royalty Pharma, a New York firm that holds a revenue-generating portfolio of drug royalty interests. Ramius V&O Acquisition, an affiliate of the $7.8 … Continue reading “Cypress Bioscience, After Months of Give and Take, Agrees to a $255M Buyout”
Cypress Pursuing Alternative Buyout Deal
Shares of San Diego’s Cypress Bioscience gained more than 20 percent in furious trading of nearly 4.8 million shares on Nasdaq—more than eight times the company’s recent average volume—after rejecting a new cash offer from the New York-based Ramius group of funds. In a statement today, Ramius and affiliates of Royalty Pharma Finance Trust said … Continue reading “Cypress Pursuing Alternative Buyout Deal”
Nissan Turning Over New Leafs, and EV Car Owners Are Electrified
Nissan has begun to deliver production models of its new Leaf all-electric vehicle in California and elsewhere. La Jolla resident Tom Franklin picked up his blue Leaf yesterday afternoon at a dealer in San Diego, just three days after the Japanese carmaker delivered its first 2011 model, a black Leaf SL, to Redwood City, CA, … Continue reading “Nissan Turning Over New Leafs, and EV Car Owners Are Electrified”
Avalon Funds Antibiotics Development at New Startup, RQx Pharmaceuticals
San Diego’s Avalon Ventures, which prefers to launch its own seed-stage startups, has provided $1 million in funding for RQx Pharmaceuticals, a new San Diego life sciences company founded earlier this year, according to a recent regulatory filing. The funding appears to be part of an early stage round that could total as much as … Continue reading “Avalon Funds Antibiotics Development at New Startup, RQx Pharmaceuticals”
Connect Announces Winners of 23rd Most Innovative Product Awards
Connect, the San Diego non-profit group dedicated to supporting technology innovation and entrepreneurism, named the winners of its “Most Innovative New Product” awards at a luncheon ceremony Friday. This year, San Diego’s innovation community nominated more than 100 new products—a record number of nominees—which prompted Connect CEO Duane Roth to note in a statement that … Continue reading “Connect Announces Winners of 23rd Most Innovative Product Awards”
ViaSat’s Moore Discusses Future of Space-Based Internet Service, High-Tech Jobs Grew Last Year, CommNexus Absorbs EvoNexus Incubator, & More San Diego BizTech News
Last week’s tech industry news underscored the diversity of innovation in the San Diego area. We’ve got it all wrapped up for you here, from satellite-based Internet service to electric motorcycles, Web 2.0, and electromagnetic railguns. —Carlsbad, CA-based ViaSat (NASDAQ: [[ticker:VSAT]]) will be launching its first satellite, ViaSat-1, in mid-May as part of the company’s … Continue reading “ViaSat’s Moore Discusses Future of Space-Based Internet Service, High-Tech Jobs Grew Last Year, CommNexus Absorbs EvoNexus Incubator, & More San Diego BizTech News”
TakeLessons Takes Top Prize
The San Diego Venture Group says it awarded top honors in its 11th Annual PitchFest business plan competition—and a check for $20,000—to TakeLessons, a San Diego startup that operates nationwide as a full-service music and voice lessons provider. A venture group committee composed of representatives from Anthem Ventures, Avalon Ventures, Tech Coast Angels, and Windward … Continue reading “TakeLessons Takes Top Prize”
Accountant Bound for Trial in Angel Murder
Kent Thomas Keigwin, a former certified public accountant, has been ordered to stand trial on charges that include murder for financial gain in connection with the death of John G. Watson, a retired biotech executive and San Diego angel investor whose body was found June 8. Prosecutors presented evidence at a three-day preliminary hearing that … Continue reading “Accountant Bound for Trial in Angel Murder”
Electric Superbike to Challenge Gasoline-Powered Motorcycles
A former Boeing engineer who turned pro superbike rider has developed an electric motorcycle and plans to compete head to head on January 9 against conventional twin-cylinder, gasoline-powered race bikes at the Auto Club Speedway in Fontana, CA. “We expect to work hard to show the world that electric technology can achieve laptime parity with … Continue reading “Electric Superbike to Challenge Gasoline-Powered Motorcycles”
FDA Panel Recommends Orexigen’s Obesity Drug, Sequenom Raises Capital, CommNexus Reorganizes Its Free Incubator, & More San Diego Life Sciences News
San Diego’s life sciences community gained a new company when HemaQuest Pharmaceuticals decided to move its headquarters here, and a couple of Bay Area executives will also be working at San Diego’s Otonomy and Receptos. Get all your life sciences coming and goings here. —A Food and Drug Administration advisory panel voted 13-7 to recommend … Continue reading “FDA Panel Recommends Orexigen’s Obesity Drug, Sequenom Raises Capital, CommNexus Reorganizes Its Free Incubator, & More San Diego Life Sciences News”
San Diego’s General Atomics Reveals Railgun Technology, Developed Through Internal R&D
San Diego’s General Atomics, one of the region’s leading defense contractors, said today that it has been participating in efforts to develop an electromagnetic railgun, which uses high-powered electromagnets instead of gunpowder to launch artillery-like projectiles. The private government contractor says it successfully test-fired aerodynamic rounds from a prototype electromagnetic railgun three months ago at … Continue reading “San Diego’s General Atomics Reveals Railgun Technology, Developed Through Internal R&D”
Otonomy Names Bay Area’s David A. Weber as CEO
San Diego’s Otonomy, a two-year-old startup developing novel drug therapies for Meniere’s disease and other disorders of the inner ear, today named David A. Weber as president, CEO, and board member. Avalon Ventures managing director Jay Lichter, who co-founded Otonomy and served as CEO until now, is returning to his role as investor and director. … Continue reading “Otonomy Names Bay Area’s David A. Weber as CEO”
Peering Over the Horizon, WildBlue Co-Founder Tom Moore Sees Opportunities Beyond Launch of ViaSat-1 Satellite
The countdown hasn’t started just yet, but in five months, Carlsbad, CA-based ViaSat (NASDAQ: [[ticker:VSAT]]) will be launching its first satellite, ViaSat-1, aboard a Proton rocket from the Baikonour Cosmodrome, the Russian space launch facility in Kazakhstan. “We’re done with the really tough testing, where you put the satellite in a thermal vacuum chamber and … Continue reading “Peering Over the Horizon, WildBlue Co-Founder Tom Moore Sees Opportunities Beyond Launch of ViaSat-1 Satellite”
Helix Wind’s Fate is Blowin’ in the Wind
Helix Wind, which appeared to be in critical condition last year when Scott Weinbrandt replaced co-founder Ian Gardner as CEO, says it’s now searching for a new CEO to step in for Weinbrandt, according to a regulatory filing. Weinbrandt, a former computer industry executive, left the company and its board on Dec. 2. The tiny … Continue reading “Helix Wind’s Fate is Blowin’ in the Wind”
EvoNexus Evolves: CommNexus Absorbs Incubator, Accepts San Diego’s Independa as Latest Resident Startup
San Diego’s CommNexus wireless industry group has reorganized EvoNexus, the free technology incubator it created last year, and has folded its operations into the non-profit group’s programs, according to CommNexus CEO Rory Moore. Moore also confirmed that Cathy Pucher, who was hired as executive director when EvoNexus was founded, recently departed the incubator to head … Continue reading “EvoNexus Evolves: CommNexus Absorbs Incubator, Accepts San Diego’s Independa as Latest Resident Startup”
IPO Still Awaits as Fallbrook Raises $39M
San Diego’s Fallbrook Technologies says today it has raised about $39 million in a Series E preferred stock private placement that encompasses $6 million the company disclosed in a June regulatory filing. Fallbrook, which has spent more than a decade developing advanced technology for a continuously variable transmission, says the latest deal brings its cumulative … Continue reading “IPO Still Awaits as Fallbrook Raises $39M”
Seattle’s HemaQuest Sets New Headquarters in San Diego
After hiring former Favrille CEO John Longenecker a few weeks ago, HemaQuest Pharmaceuticals said Friday it is relocating its headquarters to San Diego. The three-year-old startup, which is developing drugs to treat hemoglobin-associated diseases, plans to maintain an office in Seattle, but the center of gravity is now here. In its statement, HemaQuest also says … Continue reading “Seattle’s HemaQuest Sets New Headquarters in San Diego”
JMI Equity Raises $875M for Seventh Fund, Sempra Completes Solar PV Plant, Awarepoint Raises $9M, & More San Diego BizTech News
It was a week for raising money, and software specialist JMI Equity led the way. The private equity firm had plenty of company, though, and we’ve got a rundown here. —JMI Equity, the software investment firm based in San Diego and Baltimore, said last week it has closed its seventh fund after raising $875 million. … Continue reading “JMI Equity Raises $875M for Seventh Fund, Sempra Completes Solar PV Plant, Awarepoint Raises $9M, & More San Diego BizTech News”
San Diego’s Cleantech Cluster Looks to Canada & Other International Partners for Collaboration
In June, 2007, a study commissioned by the City of San Diego and the San Diego Regional Economic Development Corp. found 148 cleantech companies in San Diego County. The study encouraged San Diego business leaders in establishing Cleantech San Diego as a way to help stimulate the emerging cluster (and to encourage adoption of renewable … Continue reading “San Diego’s Cleantech Cluster Looks to Canada & Other International Partners for Collaboration”
MicroPower Raises $2.2M
MicroPower Technologies, a two-year-old startup incubating in San Diego’s EvoNexus program, says it has raised $2.2 million from a variety of investors that complets its Series B round of venture funding. The company is developing power-efficient wireless video surveillance cameras for use by public safety, government, commercial, and small-to-medium business customers. Founder and CEO Jon … Continue reading “MicroPower Raises $2.2M”
Sequenom Plans $84M Offering
San Diego’s Sequenom (NASDAQ: [[ticker:SQNM]]) says today it hopes to raise gross proceeds of $84 million from an underwritten public offering of 14 million shares of its common stock at a price of $6 a share. Jefferies & Company is the sole book-running manager for the offering. The company, which specializes in biomedical diagnostics, says … Continue reading “Sequenom Plans $84M Offering”
Grid2Home Raises $400,000
San Diego-based Grid2Home, which was founded last year to develop specialized software for two-way data communications in “Smart Grid” applications, has raised $400,000 of a targeted $500,000 round of securities, according to a recent regulatory filing. Grid2Home announced in September that it had completed an undisclosed round of seed funding led by Granite Ventures. The … Continue reading “Grid2Home Raises $400,000”
Optimer Seeks Fast Review of Drug for Intestinal Infection, Histogen Raises $10M, TSRI Shares its “Click” Chemistry in Deal with Massachusetts Biotech, & More San Diego Life Sciences News
The Thanksgiving holiday helped to keep activity in San Diego’s life science companies at minimum levels over the past week. Still, what we picked up was interesting reading. Judge for yourself. —San Diego’s Optimer Pharmaceuticals (NASDAQ: [[ticker:OPTR]]) filed a new drug application with the FDA for fidaxomicin, the drug it developed to treat patients with … Continue reading “Optimer Seeks Fast Review of Drug for Intestinal Infection, Histogen Raises $10M, TSRI Shares its “Click” Chemistry in Deal with Massachusetts Biotech, & More San Diego Life Sciences News”
Verdezyne Raises $6.3M
Carlsbad, CA-based Verdezyne, which is developing gene libraries for use in industrial biology, has raised $6.3 million of a targeted $15 million equity round, according to a recent regulatory filing. The company, which secured $9 million toward a $15 million round in February, declined to comment, so it’s unclear whether the latest funding represents additional … Continue reading “Verdezyne Raises $6.3M”
Awarepoint Raises $9M, Names New CEO to Crack Hospital Market for Real-Time Tracking
This is “Day 3” on the job for Jay Deady, who was named as the new president and CEO today at San Diego-based Awarepoint, which uses wireless mesh networking and RFID technology to track just about anything that moves inside a hospital, clinic, or medical center. I figured that’s plenty of time for the new … Continue reading “Awarepoint Raises $9M, Names New CEO to Crack Hospital Market for Real-Time Tracking”
Sempra Completes Largest U.S. Solar PV Plant
San Diego-based Sempra Energy (NYSE: [[ticker:SRE]]) says its Sempra Generation subsidiary has completed construction of its 48-megawatt Copper Mountain Solar facility, billed as the largest U.S. photovoltaic solar power plant. The 380-acre plant in Boulder City, NV, about 40 miles southeast of Las Vegas, generates enough electricity to power some 14,000 homes. Construction of the … Continue reading “Sempra Completes Largest U.S. Solar PV Plant”
Energy Grants go to San Diego’s On-Ramp Wireless, “Smart Grid” Companies in Washington and New England
San Diego’s On-Ramp Wireless says it is among five companies to get more than $19 million in federal grants to develop innovations that are expected to make the nation’s power grid cleaner and more efficient, reliable, resilient, and responsive. On-Ramp Wireless, which is among the companies presenting at Xconomy’s 5×5 event in Boston next Wednesday, … Continue reading “Energy Grants go to San Diego’s On-Ramp Wireless, “Smart Grid” Companies in Washington and New England”
Histogen Raises $10M for Regenerative Hair Growth, Other Treatments
San Diego’s Histogen, which saw a group of angel investors pull out of a deal in early 2009, is announcing today that it successfully closed a $10 million Series A round and already has opened a Series B venture round with commitments from some investors. The life sciences company, which is developing regenerative medicine treatments … Continue reading “Histogen Raises $10M for Regenerative Hair Growth, Other Treatments”
JMI Equity, Based in San Diego & Baltimore, Raises $875M for Seventh Fund
JMI Equity, the private equity firm that bears the initials of software magnate John Moores (Inc.), says it has closed its seventh investment fund after raising a total of $875 million. In a statement today, the firm says with the closing of JMI Equity VII, it has raised over $2.1 billion since it was founded … Continue reading “JMI Equity, Based in San Diego & Baltimore, Raises $875M for Seventh Fund”
It’s Complicated: Survey Reveals Rough Patches in FDA’s Working Relationship With Life Sciences Industry
The life sciences industry says its working relationship with the U.S. Food and Drug Administration has improved, particularly for the early stages of the agency’s product review process. But a survey of 50 life science companies, primarily in California and Massachusetts, also pointed to rising concerns about the latter part of the product review process, … Continue reading “It’s Complicated: Survey Reveals Rough Patches in FDA’s Working Relationship With Life Sciences Industry”
Socialwise Raises $3.5M for Teen Prepaid Card and ‘Bill My Parents’ Payment Solution
San Diego-based Socialwise, which has developed payment solutions that target teens and their parents, has raised nearly $3.5 million of a planned $4 million offering, according to a recent regulatory filing. As I reported a couple of years ago, former Gateway computer executive Jim Collas founded Socialwise, which trades on the Nasdaq over-the-counter market as … Continue reading “Socialwise Raises $3.5M for Teen Prepaid Card and ‘Bill My Parents’ Payment Solution”
City Uses Sewage Gas for Renewable Energy, Peregrine Semiconductor Files for IPO, Cooley Q3 Venture Report, & More San Diego BizTech News
San Diego could be the first city in the country to use sewage gas in advanced fuel cells to generate electricity. We’ve got that and the rest of San Diego’s tech news roundup, which was abbreviated last week by the Thanksgiving holiday. —The City of San Diego is set to begin construction next month on … Continue reading “City Uses Sewage Gas for Renewable Energy, Peregrine Semiconductor Files for IPO, Cooley Q3 Venture Report, & More San Diego BizTech News”
San Diego Project Taps New England Fuel Cell Company to Generate Energy From Waste Methane Gas
A complicated financing deal led by New Energy Capital of Hanover, NH, has provided $23.5 million for a renewable energy project in San Diego that uses methane gas from a sewage treatment plant to generate electricity from advanced technology fuel cells. Construction is scheduled to begin next month on a “biogas” purification system developed by … Continue reading “San Diego Project Taps New England Fuel Cell Company to Generate Energy From Waste Methane Gas”
Roche Ends Deal with Ligand
San Diego’s Ligand Pharmaceuticals (NASDAQ: [[ticker:LGNDD]]) said today that Roche has terminated their collaboration and licensing agreement to develop a treatment for hepatitis C, according to a regulatory filing. Ligand and the Swiss pharmaceutical giant signed the drug development deal two years ago, and Roche made a $6.5 million milestone payment to Roche in April.
Zogenix Goes Public, Amira Restructures, Apricus Gets Boost From FDA Agreement on Cancer Drug Trial, & More San Diego Life Sciences News
Most of the news from San Diego’s life sciences companies in the week before Thanksgiving was focused on funding deals. And you have our best wishes over the holiday. —After setting the price for its IPO between $12 and $14 a share earlier this month, San Diego specialty drug developer Zogenix (NASDAQ: [[ticker:ZGNX]]) priced its … Continue reading “Zogenix Goes Public, Amira Restructures, Apricus Gets Boost From FDA Agreement on Cancer Drug Trial, & More San Diego Life Sciences News”
Q3 Venture Capital Terms: Like a Rolling Stone
For me, the latest venture financing report for the third quarter that ended September 30 brings to mind Bob Dylan’s revolutionary rock ballad, “Like a Rolling Stone.” There is not only a sense of shattered hubris throughout the industry (granted, in some places more than others); there are no clear trends in the analysis of … Continue reading “Q3 Venture Capital Terms: Like a Rolling Stone”
Zogenix IPO, Deeply Discounted, Raises $56M
Shares of San Diego-based Zogenix (NASDAQ: [[ticker:ZGNX]]) slid to $3.98 a share in the first day of trading today, after the drug-and-device startup substantially revised the terms of its initial public offering, raising less than anticipated. The specialty pharmaceutical company, which launched its Sumavel DosePro, a needle-free injectable migraine treatment in January, raised a total … Continue reading “Zogenix IPO, Deeply Discounted, Raises $56M”
Access Scientific Raises Another $2M
San Diego’s Access Scientific, which raised more than $2.6 million five months ago, has raised an additional $2 million, according to a regulatory filing yesterday. The company has begun the launch of its first new product, the “PICC Wand,” an all-in-one device intended to simplify the process of deploying a peripherally inserted central catheter line, … Continue reading “Access Scientific Raises Another $2M”
Peregrine Semiconductor Files for IPO
Peregrine Semiconductor, the San Diego wireless chip designer that has worked for years to build a business around its sapphire semiconductor technology, has filed for an initial public offering, according to registration filing submitted late Friday. The company hopes to raise as much as $100 million. The fabless chip designer, founded in 1990 by Mark … Continue reading “Peregrine Semiconductor Files for IPO”
Ortiva Raises $8M, VMIX Establishes European Beachead, Three Finalists Selected for Venture Group’s $20K Pitchfest, & More San Diego BizTech News
We had a lot of health IT news over the past week in San Diego. Get your latest update now. —The Senate Committee on Small Business and Entrepreneurship heard testimony last week on the heavier regulatory burden that small businesses bear. In a statement, Tim Tardibono, Connect’s director of public policy in Washington, DC, called … Continue reading “Ortiva Raises $8M, VMIX Establishes European Beachead, Three Finalists Selected for Venture Group’s $20K Pitchfest, & More San Diego BizTech News”
CleanTECH San Diego Hosts International Summit
Cleantech San Diego is hosting the area’s first International CleanTech Showcase, and has invited executives from Australia, Canada, Germany and Switzerland to talk about their innovations in renewable energy, cleantech, and other technologies. Evan Lovell, partner in the Virgin Green Fund, is the scheduled keynote speaker. The Virgin Green Fund has led more than $350 … Continue reading “CleanTECH San Diego Hosts International Summit”
Sangart Looks to Fund More Human Trials of its Oxygen-Carrying Blood Adjunct
San Diego’s Sangart, whose $50 million fundraising round in 2009 ranked among the top 10 venture deals of the year in San Diego raised an additional $15 million last month in anticipation of additional clinical trials of its MP4OX, a blood adjunct and oxygen-carrying compound. When I got a chance to get an update from … Continue reading “Sangart Looks to Fund More Human Trials of its Oxygen-Carrying Blood Adjunct”
Intel Capital Leads Venture Funding in Ortiva Wireless, 17 Others
San Diego’s Ortiva Wireless said today it has raised $8 million in a Series C round led by Intel Capital, which was joined by existing investors Comcast Interactive Capital, Artiman Ventures, and Mission Ventures of San Diego. Ortiva, which has developed technology to optimize video on wireless networks, says it plans to use the funds … Continue reading “Intel Capital Leads Venture Funding in Ortiva Wireless, 17 Others”