San Diego-based xplair Technology, which was founded in April, 2009 to provide web-based mortgage management portfolio services and support, today named John Madrid as CEO, effective immediately. Madrid was previously the chief information officer at Vericrest Financial. As CEO, Madrid is responsible for overseeing xplair’s daily operations, focusing specifically on the technological build-out of the … Continue reading “Xplair Names John Madrid as CEO”
Author: Bruce V. Bigelow
Two San Diego Startups Launching at Demo Fall 2010
Startup technology CEOs from such far-flung locales as Singapore, Cairo, Lisbon, and Lund, Sweden, have gathered at the Hyatt Regency in Santa Clara, CA, today to pitch their companies at Demo Fall 2010, the annual technology conference. While the schedule includes some prominent Silicon Valley CEOs as speakers (Twitter co-founder and Square CEO Jack Dorsey … Continue reading “Two San Diego Startups Launching at Demo Fall 2010”
World Economic Forum Helps Burnish San Diego’s On-Ramp Wireless, a Specialist in Low-Power, Low Data Rate Technology
San Diego’s On-Ramp Wireless already seemed to have plenty of momentum before the World Economic Forum of Geneva, Switzerland, included the San Diego wireless startup on its list of 31 companies designated as 2011 “technology pioneers.” The startup was founded in 2008 to develop a specialized, end-to-end wireless system for low data rate communication across … Continue reading “World Economic Forum Helps Burnish San Diego’s On-Ramp Wireless, a Specialist in Low-Power, Low Data Rate Technology”
SG Biofuels Raises $9.4M
Encinitas, CA-based SG Biofuels says today it has closed on $9.4 million in Series A financing raised from Flint Hills Resources, a privately held refining and petrochemical company based in Wichita, KS; Life Technologies (NASDAQ: [[ticker:LIFE]]), a biotechnology tools company based in Carlsbad, CA; and existing investors, who were not identified. SG Biofuels has been … Continue reading “SG Biofuels Raises $9.4M”
Eset Offers Security for Apple OS X
Eset, the anti-virus and security software developer based in San Diego and Bratislava, Slovakia, is announcing a new security product today, called Eset Cybersecurity for Mac. Eset says the software developed for the Apple OS X operating system will be available in November. It uses Eset’s NOD32 ThreatSense engine, and provides protection against Internet security … Continue reading “Eset Offers Security for Apple OS X”
WebSideStory Founder Returns with Anametrix, VMIX Gets Capital, Cannon Power Group Closes Record Wind Power Deal, & More San Diego BizTech News
Could San Diego’s software sector be strengthening? We’re seeing a couple of new companies and some new funding, and our roundup is here. —Veteran software CEO John Mutch, who headed a bankruptcy reorganization of San Diego’s Peregrine Systems, is now at the helm of BeyondTrust, an IT security company that recently moved its headquarters to … Continue reading “WebSideStory Founder Returns with Anametrix, VMIX Gets Capital, Cannon Power Group Closes Record Wind Power Deal, & More San Diego BizTech News”
Cannon Gets $547M in Wind Energy Deal
The Cannon Power Group, a Del Mar, CA-based wind power developer, said it has closed a $547 million deal to provide electricity for 20 years to the Southern California Public Power Authority (SCPPA), a group of municipal utilities throughout the Los Angeles region. Cannon says the deal is believed to be the largest transaction of … Continue reading “Cannon Gets $547M in Wind Energy Deal”
MindTouch Expands as Sales Triple
MindTouch said today the San Diego startup is on track to triple revenues in 2010, although no numbers were disclosed. The company, which was self-funded and bootstrapped by co-founders Aaron Fulkerson and Steve Bjorg, said today it has hired a new chief financial officer, Byoung Lee, and plans to add about 50 employees in coming … Continue reading “MindTouch Expands as Sales Triple”
Ramius Group Gains Ally in Fight With Cypress Bioscience
A second institutional shareholder has joined a potential proxy battle at Cypress Bioscience after the San Diego biotech spurned an unsolicited buyout offer from a New York hedge fund. The shareholder, Arcadia Capital Advisors of Great Neck, NY, which owns less than a 5 percent stake in Cypress, has issued an open letter that is … Continue reading “Ramius Group Gains Ally in Fight With Cypress Bioscience”
Sequel Raises $1.4M
San Diego’s Sequel Pharmaceuticals has raised almost $1.4 million in a combination of debt, rights, and securities in a round intended to raise more than $1.9 million for the three-year-old specialized drug developer, according to a recent regulatory filing. Sequel is focused on developing a drug candidate for treating an abnormal heart rhythm known as … Continue reading “Sequel Raises $1.4M”
Zogenix Files for IPO, Orexigen Licenses Obesity Drug to Takeda, ImThera Raises Capital For Sleep Apnea, & More San Diego Life Science News
The big news: San Diego’s Orexigen inked a marketing deal around its obesity drug compound whose value could soar into the billions of dollars. We’ve got that and the rest of San Diego’s life science news for you here. —Zogenix, the four-year-old San Diego startup that develops compounds for treating pain and central nervous system … Continue reading “Zogenix Files for IPO, Orexigen Licenses Obesity Drug to Takeda, ImThera Raises Capital For Sleep Apnea, & More San Diego Life Science News”
San Diego Business Analytics Startup Anametrix, Launched by WebSideStory Founder Blaise Barrelet, Raises $1.15M
San Diego-based Anametrix, the developer of cloud-based analytics technology for business customers, has raised $1.15 million of an intended $2.3 million round from private investors, according to a recent regulatory filing. Anametrix, founded last year, is bringing together some iconic figures from San Diego’s dot-com boom of the 1990s—beginning with Blaise Barrelet, the startup’s founding … Continue reading “San Diego Business Analytics Startup Anametrix, Launched by WebSideStory Founder Blaise Barrelet, Raises $1.15M”
Santarus to Launch Drug for Type 2 Diabetes
San Diego-based Santarus (NASDAQ: [[ticker:SNTS]]) said it has acquired exclusive rights from S2 Therapeutics of Bristol, TN, and VeroScience of Tiverton, RI to make and sell bromocriptine mesylate (Cycloset) tablets in the U.S. The Food and Drug Administration has approved the prescription drug as an adjunct to diet and exercies to improve glycemic control in … Continue reading “Santarus to Launch Drug for Type 2 Diabetes”
Halozyme Plans to Sell 8.3M Shares
San Diego’s Halozyme Therapeutics (NASDAQ: [[ticker: HALO]]) said today to could sell as much as 8.3 million shares of its common stock to support further research and development of its product candidates. If the company sold all 8.3 million shares through the so-called shelf registration, it could raise between $75.6 million and $43.3 million, based … Continue reading “Halozyme Plans to Sell 8.3M Shares”
Software Veteran John Mutch Moves IT Security Specialist BeyondTrust to San Diego, on Path to Build “Freemium” Business Model
When Agoura Hills, CA-based Symark acquired Portsmouth, NH-based BeyondTrust for a little over $20 million a year ago, the deal was viewed as a complementary combination of similar IT security technologies for fundamentally different markets. BeyondTrust specialized in providing IT security for Windows-based networks by managing the access privileges granted to both system administrators and … Continue reading “Software Veteran John Mutch Moves IT Security Specialist BeyondTrust to San Diego, on Path to Build “Freemium” Business Model”
San Diego’s Zogenix Files for $90M IPO to Expand Development of Needle-Free Injector and Pain Drugs
San Diego-based Zogenix, which markets a needle-free injector for treating migraines, intends to raise $90 million through an initial public stock offering, according to a recent regulatory filing. The biotech startup, which I profiled last month, has also been developing compounds for treating pain and central nervous system disorders, and plans to pair each new … Continue reading “San Diego’s Zogenix Files for $90M IPO to Expand Development of Needle-Free Injector and Pain Drugs”
Eset Expands Smartphone Security, Qualcomm’s Firethorn Offers Swagg, Proximetry Focuses on Private Wireless Networks, & More San Diego BizTech News
Is Swagg something you’d want—or not want—on your smartphone? If you don’t know, you better catch up on what Qualcomm’s Firethorn has planned for the upcoming holidays, along with the rest of last week’s tech news. —Privately held Eset, which develops computer security and anti-virus software, released a new security product for mobile devices using … Continue reading “Eset Expands Smartphone Security, Qualcomm’s Firethorn Offers Swagg, Proximetry Focuses on Private Wireless Networks, & More San Diego BizTech News”
Qualcomm’s Firethorn Begins Rollout of Wireless Gift Card Ahead of Holiday Season
Three years ago, San Diego’s Qualcomm (NASDAQ: [[ticker:QCOM]]) paid $210 million in cash to acquire an Atlanta mobile banking startup called Firethorn Holdings. At the time, some commentaries emphasized that mobile banking in the United States was emerging at a snail’s pace. Even Firethorn founder Tripp Rackley told GigaOm last November, “It’s going to be … Continue reading “Qualcomm’s Firethorn Begins Rollout of Wireless Gift Card Ahead of Holiday Season”
Otonomy Gets $38.5M, Avalon Helps Restart Drug for Age-Related Blindness, Accumetrics Heads Toward Profitability, & More San Diego Life Sciences News
The life sciences news over the past week was almost all about deals. Money came out of INC Research, a contract research organization in North Carolina that was founded in San Diego. Money went into Otonomy, Accumetrics, and some other San Diego startups. We round it all up for you here. —San Diego-based Otonomy, a … Continue reading “Otonomy Gets $38.5M, Avalon Helps Restart Drug for Age-Related Blindness, Accumetrics Heads Toward Profitability, & More San Diego Life Sciences News”
Active Network Preparing IPO
The San Diego-based Active Network, a Web-based services company that provides everything from online campground reservations to registration for softball leagues and marathons, is now “quite far along in discussions with bankers,” according to a report in VentureWire. CEO Dave Alberga says the venture-backed Active Network generated $244 million in revenue last year, and bookings … Continue reading “Active Network Preparing IPO”
Accumetrics Adds $7 Million in Venture Funding, Plans to Reach Profitability
San Diego-based Accumetrics says today it has raised an additional $7 million as part of a Series E venture round that was announced last October, when the biomedical diagnostics company raised about $16.5 million. The company says it has closed out the round after raising $24 million altogether. The latest funding brings the total capital … Continue reading “Accumetrics Adds $7 Million in Venture Funding, Plans to Reach Profitability”
Cebix Raises $16M From Investors
San Diego-based Cebix, which is developing a replacement therapy based on human proinsulin C-peptide as a supplemental treatment for complications from type 1 diabetes, has raised $16 million over the past 14 months, according to a form filed with regulators Monday. The form amends a regulatory filing that Cebix submitted in June, 2009, which disclosed … Continue reading “Cebix Raises $16M From Investors”
Eset Readies Mobile Security Software for Some Smartphone Operating Systems
I must begin with a confession: It’s been awhile since I sat down with Eset CEO Anton Zajac to get an update on the privately held IT security and anti-virus software developer based in Bratislava, Slovakia, and San Diego. While the company’s security software products are well-known in Europe, Eset is not as well-recognized in … Continue reading “Eset Readies Mobile Security Software for Some Smartphone Operating Systems”
San Diego’s ReVision Therapeutics, Founded in April, Takes on Development of Drug Candidate for Age-Related Blindness
A San Diego biopharmaceutical startup, formed just five months ago to resume development of a compound for treating age-related macular degeneration, has reported encouraging results from a two-year, mid-stage clinical trial of the compound, known as fenretinide. The findings were released in Florida yesterday at the annual meeting of the American Society of Retinal Specialists … Continue reading “San Diego’s ReVision Therapeutics, Founded in April, Takes on Development of Drug Candidate for Age-Related Blindness”
Fallbrook Raises Additional $6M for Innovative Transmission
San Diego’s Fallbrook Technologies has raised another $6 million in venture capital, according to an amended IPO registration form the company filed with government regulators Friday. Fallbrook, which is developing an innovative continuously variable transmission (CVT) for a variety of applications, originally filed for an IPO in February and revised its S-1 form previously in … Continue reading “Fallbrook Raises Additional $6M for Innovative Transmission”
Proximetry Emerging with Technology to Manage Performance of ‘Smart Grid’ and Other Wireless Networks
San Diego-based Proximetry’s co-founder and CEO, Tracy Trent, says he has been consciously trying to keep the wireless software company under the radar since it was started almost six years ago. Trent began Proximetry after previously serving as the president and CEO of Stellcom, the San Diego wireless software developer acquired by Vytek Corp. in … Continue reading “Proximetry Emerging with Technology to Manage Performance of ‘Smart Grid’ and Other Wireless Networks”
ShowUhow Raises $3M
San Diego-based ShowUhow, which creates and hosts online video instruction guides for retail and manufacturing partners, says today it has raised $3 million in Series A funding from Syncom Venture Partners, an investment firm in Silver Springs, MD, that specializes in media, mobile technologies, and web-based service companies. ShowUhow videos show consumers how to assemble … Continue reading “ShowUhow Raises $3M”
Otonomy Closes $38.5M Round to Fund Trials of Hearing-Disorder Treatments
Follow-on funding for Otonomy that Luke presaged in June has been disclosed by the San Diego biotech, a two-year-old startup developing drug treatments for hearing loss and balance disorders. Otonomy says today it has closed a $38.5 million Series B round of financing that was co-led by Novo Ventures and RiverVest Venture Partners, with Avalon … Continue reading “Otonomy Closes $38.5M Round to Fund Trials of Hearing-Disorder Treatments”
First Two Startups Leaving CommNexus Incubator, Qualcomm at 25, Oceanhouse Media Shows App-titude for Children’s Books, & More San Diego BizTech News
Of all the tech news we had last week, I thought the most interesting was what our Xconomists had to say about Qualcomm, past and future. We’ve got the wrap on that, along with the rest of what happened in San Diego. —San Diego’s EvoNexus, the free tech incubator created last year by the CommNexus … Continue reading “First Two Startups Leaving CommNexus Incubator, Qualcomm at 25, Oceanhouse Media Shows App-titude for Children’s Books, & More San Diego BizTech News”
Presto, Tibetan Bowls, & Dr. Seuss: How Michel Kripalani Got His Entrepreneurial Karma Back
Some tales of technology innovation have an ethereal quality to them, and such is the case with Oceanhouse Media—or perhaps it would be more accurate to say that such is the case with Michel Kripalani, the startup software developer’s founder and president. Encinitas, CA-based Oceanhouse was founded in January, 2009, and its first product was … Continue reading “Presto, Tibetan Bowls, & Dr. Seuss: How Michel Kripalani Got His Entrepreneurial Karma Back”
Cypress Bio Acquires Technologies in Separate Deals with Marina Biotech, Alexza Pharmaceutical
San Diego’s Cypress Bioscience (NASDAQ: [[ticker:CYPB]]), which is trying to keep an unsolicited buyout at bay while executing a dramatic change in its business strategy, says it has acquired rights to two novel therapies. Earlier this month, Cypress rejected a $160-million buyout offer made in July by the New York-based Ramius Value and Opportunity Advisors—and … Continue reading “Cypress Bio Acquires Technologies in Separate Deals with Marina Biotech, Alexza Pharmaceutical”
Finistere Planning New Venture Fund, National Cancer Institute Official Offers SBIR Insights, Ramius Still Tries to Woo Cypress Bio, & More San Diego Life Sciences News
Funding for San Diego life sciences startups can come in the form of small financing deals and as federal Small Business Innovation Research grants that can help to keep small biotechs alive. Allow me to aggregate all that and other life sciences news of the week for you. —At a time when venture capital funding … Continue reading “Finistere Planning New Venture Fund, National Cancer Institute Official Offers SBIR Insights, Ramius Still Tries to Woo Cypress Bio, & More San Diego Life Sciences News”
San Diego Founder Kenneth Selzer, Investor Drew Senyei Pleased with INC Research Acquisition
There was no obvious reason for us to focus on the $575 million buyout of INC Research, a contract research organization based in Research Triangle Park, NC, that was announced last week. But the acquisition by Avista Capital Partners, a New York private equity firm, and the Ontario (Canada) Teachers’ Pension Plan’s private capital group, … Continue reading “San Diego Founder Kenneth Selzer, Investor Drew Senyei Pleased with INC Research Acquisition”
Ramius Still Wants Cypress Bio
It took a week, but Ramius Value and Opportunity Advisors responded today to what it calls the “abrupt resignation” of independent director Jean-Pierre Millon from the board at San Diego’s Cypress Bioscience (NASDAQ: [[ticker:CYPB]]). The subsidiary of New York’s multi-billion-dollar Ramius group says it’s still committed to its $160-million buyout offer for Cypress, says it’s … Continue reading “Ramius Still Wants Cypress Bio”
Finistere Plans New Venture Fund
Finistere Ventures, a San Diego venture capital firm that has maintained a low profile while investing in early stage medical device and agricultural biotech startups, is laying plans to raise another venture fund next year. Managing Director Bruce J. “Jay” Brumfield confirms a report in VentureWire today, which says the Finistere Ventures II fund will … Continue reading “Finistere Plans New Venture Fund”
A SBIR Program Director Offers Insights in Small Business Innovation Research “Grantsmanship” in the Life Sciences
There was a heavy turnout among rank-and-file scientists when the grassroots San Diego Entrepreneur Exchange (SDEE) hosted a panel discussion earlier this year on how to win a Small Business Innovation Research (SBIR) grant. So it might be standing room only for the briefing that San Diego’s Biocom industry group has organized tomorrow at the … Continue reading “A SBIR Program Director Offers Insights in Small Business Innovation Research “Grantsmanship” in the Life Sciences”
First Startups Take Flight From San Diego’s EvoNexus Incubator; Irvine Company Launches Initiative to ‘Renew’ University City as a Tech Hub
EvoNexus, the free incubator launched last November by San Diego’s CommNexus telecom industry group, is preparing to send its first fledgling startups into the wild—and to choose a few new startups to replace them. The comings and goings are taking place as both EvoNexus and CommNexus are settling into new office space themselves, just months … Continue reading “First Startups Take Flight From San Diego’s EvoNexus Incubator; Irvine Company Launches Initiative to ‘Renew’ University City as a Tech Hub”
EMN8 Raises More Cash
After raising more than $14.4 million in March, San Diego-based EMN8 has raised an additional $3.1 million in financing, according to a recent regulatory filing. The startup company makes point-of-transaction kiosks, which use touchscreen displays to accelerate customer orders at fast-food restaurants, theaters, and other retailers. The company has not released any details about its … Continue reading “EMN8 Raises More Cash”
SG Biofuels and Life Technologies Map Whole Genome of Jatropha Plant
[Updated 8/27/10 12:15 pm. See below] Carlsbad, CA-based Life Technologies (NASDAQ: [[ticker:LIFE]]) and Encinitas, CA-based SG Biofuels are announcing today that they have completely sequenced the genome of Jatropha curcas, a hardy Central American bush that produces walnut-size seeds laden with oil. The entire genome was sequenced since January, when the two San Diego-area companies said … Continue reading “SG Biofuels and Life Technologies Map Whole Genome of Jatropha Plant”
Qualcomm Then and Now—Will the Next 25 Be as Innovative as the Last 25?
It has been 25 years since seven former Linkabit employees met at Irwin Jacobs’ La Jolla home and founded a startup company to provide digital communications services. They saw their venture at the time in terms of QUALity COMMunications, and agreed to call the new company Qualcomm. Since its beginnings in July 1985, Qualcomm has … Continue reading “Qualcomm Then and Now—Will the Next 25 Be as Innovative as the Last 25?”
ViaSat Keeps Lead in Space-Based Internet, Mitek Enables Smartphone Check Deposits, AngeList Screens Biz Plans for Individual Investors & More San Diego BizTech News
We had interesting patent news that put Mitek Systems on our innovation radar screen, and that’s where you want to be. Catch up on that and the rest of San Diego’s tech news for the past week. —The competition for satellite-based Internet service is tightening up for Carlsbad, CA-based ViaSat (NASDAQ: [[ticker:VSAT]]), which now faces … Continue reading “ViaSat Keeps Lead in Space-Based Internet, Mitek Enables Smartphone Check Deposits, AngeList Screens Biz Plans for Individual Investors & More San Diego BizTech News”
Biocept Targets Spreading Tumors With Advance in Diagnostics
We noted earlier this week that San Diego-based Biocept, which is developing advanced cancer diagnostics technology, had recently raised $2.3 million from its investors. That news reminded me of a fascinating meeting I had in June with Biocept CEO Stephen Coutts, a 30-year veteran of San Diego’s biotech community. In one of the cooler demonstrations … Continue reading “Biocept Targets Spreading Tumors With Advance in Diagnostics”
Cibus Raises $1.2M
San Diego’s Cibus Global, which says it uses environmentally friendly biotechnology to develop crops with desired traits, has closed an equity and rights offering after raising almost $1.2 million, according to a recent regulatory filing. The agricultural biotech company founded in 2001 had targeted $2.6 million. Cibus has raised much of its recent capital through … Continue reading “Cibus Raises $1.2M”
Small Deals Add Up: A Roundup of Under-the-Radar Deals in San Diego
July was a busy month for small deals, according to the latest data from CB Insights, the New York information and data services firm that tracks the private company deals that help fuel the innovation economy. CB Insights sweeps the sub $1 million deals for both technology and life sciences companies into this roundup. Many … Continue reading “Small Deals Add Up: A Roundup of Under-the-Radar Deals in San Diego”
Life Wants Ion Torrent for Fast Gene Sequencing, Biogen-Idec Takes On Lou Gehrig’s Disease, Two Biotechs Move Toward IPOs, & More San Diego Life Science News
Whatever happened to the lazy “dog days of summer?” The past week was busy with life science news, with a lot of deals and other developments. Here’s our summary: —Carlsbad, CA-based Life Technologies (NASDAQ: [[ticker:LIFE]]), in a bid to gain a competitive advantage in the market for fast and cheap gene sequencing, acquired Ion Torrent … Continue reading “Life Wants Ion Torrent for Fast Gene Sequencing, Biogen-Idec Takes On Lou Gehrig’s Disease, Two Biotechs Move Toward IPOs, & More San Diego Life Science News”
Director Quits Cypress Bio’s Board During Buyout Struggle
San Diego’s Cypress Bioscience (NASDAQ: [[ticker:CYPB]]), which is in a standoff with a Ramius Group fund over its buyout offer, disclosed in a regulatory filing today that one of its independent directors has resigned from its eight-member board. The company, which yesterday reiterated its rejection of Ramius’ $160 million buyout offer, maintains that Jean-Pierre Millon … Continue reading “Director Quits Cypress Bio’s Board During Buyout Struggle”
Tachyon Gets $4M in SVB Financing
San Diego-based Tachyon Networks says today it has secured a $2 million equipment term loan and a $2 million line of credit with Silicon Valley Bank. The company specializes in providing broadband satellite communications services to oil and gas, alternative energy, construction, mining, and special events customers. Tachyon also serves military and government customers.
Taste-Maker Allylix Prepares to Make “Nootkatone” a Household Word, as San Diego Gains Momentum in Industrial Biotechnology
In the six years since Allylix was founded, the San Diego startup has been developing ways of getting yeast to produce complex hydrocarbon molecules called terpenes for use initially as flavor and fragrance enhancers. In April, Allylix raised $9 million in a C Series round of venture capital to fund its commercialization plans, which call … Continue reading “Taste-Maker Allylix Prepares to Make “Nootkatone” a Household Word, as San Diego Gains Momentum in Industrial Biotechnology”
Mitek Siezes an App Opportunity: Enabling Your iPhone, BlackBerry, or Android Phone to Scan and Deposit Your Checks
San Diego’s Mitek Systems, the developer of optical character recognition and intelligent pattern recognition technologies that processes 10 billion checks a year, might have created a new opportunity in the emerging market for mobile check processing. Today, the U.S. Patent and Trademark Office granted Mitek a utility patent for “systems for mobile image capture and … Continue reading “Mitek Siezes an App Opportunity: Enabling Your iPhone, BlackBerry, or Android Phone to Scan and Deposit Your Checks”
Sequenom Builds Lab to Screen Test Results
A new 7,000-square-foot genetic testing laboratory is under construction at Sequenom’s San Diego headquarters. The San Diego Union-Tribune says today the new lab will open later this year, as the company begins to process samples in its “start-over” clinical trial intended to demonstrate the accuracy of its non-invasive test for Down syndrome. Sequenom (NASDAQ: [[ticker:SQNM]]) … Continue reading “Sequenom Builds Lab to Screen Test Results”