San Diego-based SmartDrive Systems Raises $12M in Venture Funding

SmartDrive Systems, a San Diego company that uses video recording technology and web-based services to reduce the costs of operating motor vehicle fleets, has raised $12 million in venture capital in a deal that could be worth as much as $25 million, according to a regulatory filing. The company was founded in 2004 by James … Continue reading “San Diego-based SmartDrive Systems Raises $12M in Venture Funding”

La Jolla Pharmaceutical Sets Vote to Shut Down

La Jolla Pharmaceutical (NASDAQ: [[ticker:LJPC]]) has scheduled a special shareholder meeting for Oct. 30 to vote on a plan of liquidation and dissolution. If approved, the biotech expects to satisfy remaining debts and distribute remaining cash to shareholders. With estimated cash of $4.4 million at the end of August, the company estimates the distribution to … Continue reading “La Jolla Pharmaceutical Sets Vote to Shut Down”

Plan to Provide Federal Funding for Early-Stage Investments Perfect for San Diego’s Innovation Economy, Says Connect’s Roth

Back in August, Connect CEO Duane Roth outlined an initiative to address a dearth of venture capital investment by seeking to develop alternative funding sources for San Diego’s early-stage technology companies. A key part of the non-profit group’s initiative is to pursue additional federal support—and now that effort is facing its first major test as … Continue reading “Plan to Provide Federal Funding for Early-Stage Investments Perfect for San Diego’s Innovation Economy, Says Connect’s Roth”

Illumina Countersues Life Technologies

San Diego-based Illumina (NASDAQ: [[ticker:ILMN]]) and its Solexa subsidiary are countersuing Carlbad, CA-based Life Technologies (NASDAQ: [[ticker:LIFE]]) and Applied Biosystems in a patent dispute over gene sequencing technologies. In a statement today, Illumina and Solexa denied allegations that Life and Applied Biosystems raise in their Sept. 21 lawsuit, assert that Applied Biosystems’ patents are invalid, … Continue reading “Illumina Countersues Life Technologies”

Semtek Raises $6.7M in Series B Round

San Diego’s Semtek Innovative Solutions has raised more than $6.7 million in a planned Series B round of $8 million, according to a recent regulatory filing. Semtek, which is commercializing technologies for preventing the theft of credit card data and identifying counterfeit credit cards, said earlier this month that VeriFone Holdings now owns a 19.9 … Continue reading “Semtek Raises $6.7M in Series B Round”

Skype Reported to be in Talks to Buy San Diego’s Gizmo5

When I wrote about MP3.com founder Michael Robertson in December, the San Diego serial entrepreneur had just launched Gizmo5, an updated version of his free VoIP (Voice Over Internet Protocol) software and peer-to-peer network for making Internet-based phone calls. In my headline, I asked, “Michael Robertson is Calling, But Will Anybody Answer?” Ten months later, … Continue reading “Skype Reported to be in Talks to Buy San Diego’s Gizmo5”

Algae Biofuels Skeptics Emphasize Need for Realistic Outlook and Business Discipline

When the organizers of the annual Algae Biomass Summit convene to begin planning for next year’s event, they might consider renaming it the Algae Biomass Smackdown. It might be more accurate, considering the air of skepticism that seemed to pervade some of the sessions I attended during the three-day conference that was held last week … Continue reading “Algae Biofuels Skeptics Emphasize Need for Realistic Outlook and Business Discipline”

Q3 Venture Deals Regain Some Lost Altitude, With $6B Invested Nationwide

The storm may not have entirely passed, but the venture capital industry unbattened the hatches during the three months that ended in September. At least that’s the sense I get from a 69-page report on U.S. venture investing, which we get from New York-based ChubbyBrain, an information services firm developing tools for investors, startups, and … Continue reading “Q3 Venture Deals Regain Some Lost Altitude, With $6B Invested Nationwide”

Wireless Industry Foresees Capacity Constraints, Algae-Based Biofuels Still a Decade Away, Xconomy San Diego Marks its First Anniversary, & More San Diego BizTech News

The big story out of the International CTIA Wireless IT & Entertainment expo in San Diego last week could perhaps be summed up in one word: “spectrum.” We also have reports from the Algae Biofuels Summit and other big news, so read on. —Qualcomm co-founder Irwin Jacobs and his son Paul, who is now chairman … Continue reading “Wireless Industry Foresees Capacity Constraints, Algae-Based Biofuels Still a Decade Away, Xconomy San Diego Marks its First Anniversary, & More San Diego BizTech News”

Mobile App Startups From Seattle to Washington DC Make Pitch at CTIA Fund Fest

A lot of fingers were crossed behind the scenes at the CTIA Wireless IT & Entertainment conference, which ended today at the San Diego Convention Center. Many extraneous factors can affect attendance at big industry shows, but organizers did not want a repeat of the last time the CTIA came to San Diego, when the … Continue reading “Mobile App Startups From Seattle to Washington DC Make Pitch at CTIA Fund Fest”

From a Trickle to Flash Flood: Qualcomm’s Father-Son Dynasty Follows Course of Mobile Data Services

The co-founders who introduced San Diego-based Qualcomm’s wireless digital technology in 1989 envisioned from the early days that it would be ideal for the Internet. But Irwin Jacobs says now even he’s amazed at how many things a cell phone can do today. A new generation of innovators is now using Qualcomm’s proprietary technology to … Continue reading “From a Trickle to Flash Flood: Qualcomm’s Father-Son Dynasty Follows Course of Mobile Data Services”

Fundraising Tide Remains Low for Venture Capital Firms

Fundraising by U.S. venture capital firms continues to lag. A survey released overnight by Dow Jones Private Equity Analyst shows that 26 VC funds raised about $3.5 billion during the three months that ended September 30—down about 51 percent from the same quarter last year. The findings nevertheless represented an improvement over the previous quarter, … Continue reading “Fundraising Tide Remains Low for Venture Capital Firms”

‘Restraint’ an Unspoken Watchword of Algae Biomass Sessions

A few basic themes seemed to emerge in the first few presentations yesterday afternoon during the 3rd Annual Algae Biomass Summit. One theme is that the algae biofuels industry remains at a nascent stage of development, despite widespread enthusiasm over the size of San Diego-based Synthetic Genomics’ deal with ExxonMobil, and venture funding for Sapphire … Continue reading “‘Restraint’ an Unspoken Watchword of Algae Biomass Sessions”

Gary West on San Diego’s West Wireless Health Institute and ‘Always On’ Medicine

As the international wireless industry group CTIA convenes its 2009 conference on information technology and entertainment in downtown San Diego this week, one of the emerging sectors claiming much of the agenda and industry attention is wireless healthcare. San Diego, with its concentration of both life sciences and wireless technology startups, also has emerged as … Continue reading “Gary West on San Diego’s West Wireless Health Institute and ‘Always On’ Medicine”

Xconomy San Diego’s First Year Anniversary Brings the Benefits of Hindsight on the Local Innovation News with the Biggest Global Impact

Those of us who are lucky enough to work as journalists (and who get to write the first draft of history) often remember the dates when the important and even not-so-important events went down. After 30 years in the news business, it’s become almost second nature for me. Today marks a special day, both personally … Continue reading “Xconomy San Diego’s First Year Anniversary Brings the Benefits of Hindsight on the Local Innovation News with the Biggest Global Impact”

San Diego’s Accumetrics Raises $16.5M in Fifth Round of Venture Funding

Loyalty has its rewards, and in the case of San Diego’s Accumetrics, that means the company’s existing investors have just completed a fifth round of venture funding—putting another $16.5 million into the medical diagnostics company. The Series E funding brings Accumetrics’ overall investment close to $68 million, although, as I explained in June, that includes … Continue reading “San Diego’s Accumetrics Raises $16.5M in Fifth Round of Venture Funding”

Achates Power Raises $12.1M in Venture Capital to Develop Cleaner, More Efficient Engine

It’s getting harder for San Diego’s stealthy cleantech startup Achates Power to continue flying beneath the radar. In a regulatory filing today, Achates discloses it has raised $12.125 million out of a $20 million venture round. The company, which says in its filing that it was founded in 2007, has been developing a radical new … Continue reading “Achates Power Raises $12.1M in Venture Capital to Develop Cleaner, More Efficient Engine”

J. Craig Venter Cancels Algae Summit Keynote for White House Ceremony

You always hate to see a keynote speaker pull out of a major conference attracting wide attention, especially when the conference is focused on a hot emerging field like algae-based technologies and the speaker is J. Craig Venter, the renowned human genome pioneer and founding CEO of San Diego’s Synthetic Genomics. The brash Venter, who … Continue reading “J. Craig Venter Cancels Algae Summit Keynote for White House Ceremony”

Larry Smarr on the Internet, Past and Future; ViaSat Acquiring WildBlue Communications; SAIC’s Retired Founder Calls HQ Move ‘Inevitable;’ & More San Diego BizTech News

San Diego’s biztech news was tilted heavily toward the Internet last week, anchored by two in-depth stories about the Internet and Larry Smarr, the director of the California Institute for Information Technology and Communications. You can get that and more below—and you don’t need to listen for the Internet dial tone to get it either. … Continue reading “Larry Smarr on the Internet, Past and Future; ViaSat Acquiring WildBlue Communications; SAIC’s Retired Founder Calls HQ Move ‘Inevitable;’ & More San Diego BizTech News”

‘Ardi’ Scientists Used LifeModeler’s Software to Understand How Earliest Hominid Moved

Researchers who spent 15 years studying the skeletal remains of “Ardi,” a hominid who lived 4.4 million years ago, turned to a specialized software developer in San Clemente, CA, to help them understand how the 110-pound, 4-foot female walked and moved. Scientific papers about the nearly complete fossilized skeleton that were published this week have … Continue reading “‘Ardi’ Scientists Used LifeModeler’s Software to Understand How Earliest Hominid Moved”

Marval Biosciences, San Diego’s Latest Virtual Biomedical Startup, Raises $2.5M to Develop Next-Generation Contrast Agents for Medical Imaging

Marval Biosciences, which was established in Houston two years ago with medical imaging technology from the University of Texas, has raised $2.5 million in a secondary round of venture funding—and CEO Russell Lebovitz tells me he has moved to San Diego. The startup, which has a half-dozen key people, operates virtually, with some employees in … Continue reading “Marval Biosciences, San Diego’s Latest Virtual Biomedical Startup, Raises $2.5M to Develop Next-Generation Contrast Agents for Medical Imaging”

ViaSat Pays $568M to Buy WildBlue and Connect Its Satellite With High-Speed Internet Customers

Satellite Communications specialist ViaSat Inc. (NASDAQ: [[ticker:VSAT]]) says it is buying WildBlue Communications, a suburban Denver company that provides high-speed Internet access to mostly rural areas in a cash-and-stock deal valued at $568 million. Until now, Carlsbad, CA-based ViaSat has specialized in developing satellite-based communications hardware and software, including modems, radios, and ground stations, for … Continue reading “ViaSat Pays $568M to Buy WildBlue and Connect Its Satellite With High-Speed Internet Customers”

Calit2’s Larry Smarr (Part 2): Insights on the Path Ahead and 4 Big Ideas for the Future of Health, Energy, Environment, and Culture

When California Gov. Gray Davis created the California Institute for Telecommunications and Information Technology in 2000, it was part of a broad state initiative that spawned four new centers for science and innovation with a shared mission “to invent the future.” The specific mission for the institute known as Calit2 (Cal IT2), which is based … Continue reading “Calit2’s Larry Smarr (Part 2): Insights on the Path Ahead and 4 Big Ideas for the Future of Health, Energy, Environment, and Culture”

Sequenom Starts Over After Purge, Patent Lawsuits Flying Over Gene Sequencing Technologies, Zogenix Prepares for Needle-Free Injections, & More San Diego Biotech News

Sequenom had the big story for San Diego’s life sciences community this week. We have the latest developments about that, as well as other biotech news. —Sequenom (NASDAQ: [[ticker:SQNM]]) now faces a long rebuilding process after the San Diego medical diagnostic company ousted president and CEO Harry Stylli and a senior vice president of research … Continue reading “Sequenom Starts Over After Purge, Patent Lawsuits Flying Over Gene Sequencing Technologies, Zogenix Prepares for Needle-Free Injections, & More San Diego Biotech News”

Calit2’s Larry Smarr on the Origins of the Internet, Innovations in IT, and Insights on the Path Ahead (Part I)

After establishing himself as a leading expert on computing and information technology, including the Internet and World Wide Web, Larry Smarr left the comfort of a job that was tailored for him at the University of Illinois, Urbana-Champaign, for a position in San Diego that offered an even better fit. In 2000, Smarr was hired … Continue reading “Calit2’s Larry Smarr on the Origins of the Internet, Innovations in IT, and Insights on the Path Ahead (Part I)”

SAIC Founder J. Robert Beyster Calls Moving Company HQ from San Diego to D.C. ‘Inevitable’—But Says He Probably Would Not Have Done It

The timing of my lunch yesterday with SAIC founder J. Robert Beyster was pretty close to impeccable, since it came just four days after the defense contractor formally announced the relocation of its corporate headquarters from San Diego to McLean, VA. The departure of a Fortune 500 headquarters with a 40-year history in one city … Continue reading “SAIC Founder J. Robert Beyster Calls Moving Company HQ from San Diego to D.C. ‘Inevitable’—But Says He Probably Would Not Have Done It”

Virginia is for Lovers—and SAIC, MeLLmo Raises $4M, DEMOfall ’09 Comes to Town, & More San Diego BizTech News

Earlier this year, defense contractor SAIC celebrated the 40th anniversary of its founding near a ballet studio in La Jolla. Now the company, which has more than 45,000 employees, has moved its headquarters from San Diego to McLean, VA. Get that and the rest of the local technology innovation news here. —Defense contractor SAIC, which … Continue reading “Virginia is for Lovers—and SAIC, MeLLmo Raises $4M, DEMOfall ’09 Comes to Town, & More San Diego BizTech News”

HP’s New High-End Printer Bypasses the PC, Connects Directly to the Web

After two years of project development, Hewlett-Packard is preparing for the official sales launch of a new inkjet printer that the technology giant bills as the world’s first “Web-connected home printer,” a peripheral that cuts the cord to the PC by connecting directly to the Internet. The Palo Alto, CA-based company says the device, which … Continue reading “HP’s New High-End Printer Bypasses the PC, Connects Directly to the Web”

SAIC Officially Relocates HQ to McLean VA

SAIC’s plans to move its corporate headquarters from San Diego, where the company was founded in 1969, to McLean, VA, may rank as one of the defense contractor’s worst-kept secrets. Today the company also known as Science Applications International Corp. made it official. In a statement issued by the company, new CEO Walt Havenstein says, … Continue reading “SAIC Officially Relocates HQ to McLean VA”

Swine Flu Could Benefit Some Biomedical Companies, Local Biotechs Are Looking Healthier, Arena Happy With Obesity Drug Results, & More San Diego Life Sciences News

As the flu season nears, it’s still unclear how severe the H1N1 strain of swine flu will be. But several San Diego companies are nevertheless riding a wave of investor enthusiasm for the public companies that could benefit. Get that and other biotech news here. —The financial health of San Diego’s public life sciences companies … Continue reading “Swine Flu Could Benefit Some Biomedical Companies, Local Biotechs Are Looking Healthier, Arena Happy With Obesity Drug Results, & More San Diego Life Sciences News”

Four Boston Startups Make Their DEMO Debuts in San Diego

Company presentations and new product launches officially began yesterday in San Diego at the “launchpad for emerging technology” otherwise known as the DEMOfall 09 conference. More than 550 demonstrators, attendees, and others have registered for the three-day event, according to organizers. In the main event that ends today, company founders get 6 minutes on stage … Continue reading “Four Boston Startups Make Their DEMO Debuts in San Diego”

MeLLmo Raises $4M to Expand its Market for Mobile Business Intelligence Software

MeLLmo, a Del Mar, CA, startup developing graphics and visualization software, has raised $4 million from private investors to accelerate its penetration in the market for 3G mobile devices. The secondary round means MeLLmo has now raised a total of $10 million from its angel investors since the company was founded 21 months ago. “I … Continue reading “MeLLmo Raises $4M to Expand its Market for Mobile Business Intelligence Software”

San Diego’s MindTouch Uses Open Source to Develop Software—and Strategy

Aaron Fulkerson begins his story about San Diego-based MindTouch in the middle. He says MindTouch today is a Web-based business collaboration and integration platform, with 20 million users and hundreds of thousands of active installations. The company’s software is meant to help engineering groups, business teams, and others collaborate on projects by sharing documents, information, … Continue reading “San Diego’s MindTouch Uses Open Source to Develop Software—and Strategy”

Novatel to Tap $125M as Needed

San Diego’s Novatel Wireless (NASDAQ: [[ticker:NVTL]]), which provides 3G wireless PC cards and related broadband technologies, says it has filed a universal shelf registration statement with the Securities and Exchange Commission. When approved, Novatel will be able to offer and sell up to $125 million of equity, debt or other types of securities as needed. … Continue reading “Novatel to Tap $125M as Needed”

With $37M Investment and New Corporate Partner, San Diego’s Cibus to Develop Enhanced Crop Strains for Europe

Agricultural products company Makhteshim-Agan of Tel Aviv, Israel, says it has formed a strategic development alliance and is investing $37 million over the next five years in San Diego-based Cibus Global, a privately held agricultural biotech company founded in 2001. Under the joint development partnership, Cibus will use its proprietary technology (which offers an alternative … Continue reading “With $37M Investment and New Corporate Partner, San Diego’s Cibus to Develop Enhanced Crop Strains for Europe”

V-Vehicle Begins Work on Plant

San Diego-based V-Vehicle has begun work intended to double the size of a former GM parts plant in Monroe, LA, according to The News Star newspaper. David Hitchcock, V-Vehicle’s director of assembly operations, told the newspaper that construction of the 400,000-square-foot plant is expected to be completed in less than a year, which would be … Continue reading “V-Vehicle Begins Work on Plant”

SAIC Leans Eastward, CEOs on Culture In a Word, SDG&E Leads Smart Grid Coalition, & Other San Diego BizTech News

Former BAE Systems executive Walt Havenstein takes over today as SAIC’s new CEO, but the big question is if the new boss will move the company’s headquarters from San Diego to McLean, VA. Get our roundup of San Diego’s biztech news here. —San Diego defense contractor SAIC (NYSE: [[ticker:SAI]]), which has been shifting some key … Continue reading “SAIC Leans Eastward, CEOs on Culture In a Word, SDG&E Leads Smart Grid Coalition, & Other San Diego BizTech News”

SAIC Expected to Announce Headquarters Shift From San Diego to Northern Virginia

[Updated 9/18/09 2:45 pm PT. See below.] SAIC, the secretive defense contractor that was founded in San Diego 40 years ago by nuclear physicist J. Robert Beyster, apparently plans to announce the relocation of its corporate headquarters to Tysons Corner, VA, sometime next week. The looming announcement from Virginia Gov. Timothy M. Kaine was first … Continue reading “SAIC Expected to Announce Headquarters Shift From San Diego to Northern Virginia”

SDG&E Leads Cleantech Coalition to Upgrade ‘Smart Grid,’ Pursue Stimulus Funds

San Diego Gas & Electric has formed a coalition with the non-profit group Cleantech San Diego, UC San Diego, and major companies like Qualcomm, IBM, and Intel to integrate emerging “smart grid” technologies in the public utility’s regional power grid. The coalition’s goal is to develop and deploy a host of innovations, including renewable energy … Continue reading “SDG&E Leads Cleantech Coalition to Upgrade ‘Smart Grid,’ Pursue Stimulus Funds”

As Venture-Backed IPOs Remain Closed, Qualcomm and Google Execs Offer Some M&A Advice to Startup CEOs

The keynote speech that former SEC chairman Christopher Cox delivered yesterday at San Diego’s Seventh Annual Venture Summit was billed as a look at the conditions necessary for the IPO window to reopen, a topic of keen interest to scores of VC partners in the audience. But Cox’s main theme was really focused on the … Continue reading “As Venture-Backed IPOs Remain Closed, Qualcomm and Google Execs Offer Some M&A Advice to Startup CEOs”

Amylin Targets Obesity, Tioga Shows Virtual Business Model, Roka Bioscience Spins Off Gen-Probe, & More San Diego Life Sciences News

The pharmaceutical industry has set its sights on winning a huge new market, with four life sciences companies (three of them in San Diego) in a race to develop the next big obesity drug. Get the latest news as that story unfolds and other developments in San Diego’s life sciences sector. —Business has been surging … Continue reading “Amylin Targets Obesity, Tioga Shows Virtual Business Model, Roka Bioscience Spins Off Gen-Probe, & More San Diego Life Sciences News”

$75M Financing for Neurocrine

San Diego’s Neurocrine Biosciences (NASDAQ: [[ticker:NBIX]] says it has arranged $75 million in available financing under a three-year agreement with Kingsbridge Capital, a private investment group. Neurocrine, which is developing drugs for treating endometriosis, anxiety, diabetes, and other diseases, says it is not obligated to draw on any of the available financing. The agreement enables … Continue reading “$75M Financing for Neurocrine”

Boiling it Down: 5 CEOs Describe Their Corporate Culture and San Diego’s Status as a Digital Media Cluster

Xconomy Seattle’s editor Greg Huang got this idea going last month when he conducted an informal and wholly anecdotal survey about the startup culture in the woodsy Pacific Northwest. His premise was that you can tell a lot about a company’s corporate culture from its chief executive. Within a couple of weeks, Xconomy’s founder and … Continue reading “Boiling it Down: 5 CEOs Describe Their Corporate Culture and San Diego’s Status as a Digital Media Cluster”

Report: San Diego’s Innovation Economy Shows Q2 Uptick in Startups, Patents, and Investments

A just-released report on San Diego’s innovation economy shows 102 new technology companies were created during the three months that ended on June 30—a 53 percent increase over the 66 startups launched during the first three months of 2009, and 34 percent more than the 76 companies started during the second quarter of 2008. A … Continue reading “Report: San Diego’s Innovation Economy Shows Q2 Uptick in Startups, Patents, and Investments”

As Shift to Internet TV Accelerates, DivX CEO Positions Company to Offer ‘Any to Any’ Solution

San Diego’s DivX has been on something of a roll since June, when CEO Kevin Hell talked about the capability of someday moving television seamlessly from the living room TV screen to the computer screen and to the screens of wireless mobile devices. The digital media company, which takes its name from the DivX codec … Continue reading “As Shift to Internet TV Accelerates, DivX CEO Positions Company to Offer ‘Any to Any’ Solution”

Gen-Probe Spins Off New Company, Roka Bioscience, For Industrial Testing

[Updated 9/15/09 8:15 am. See below.]San Diego-based Gen-Probe (NASDAQ: [[ticker: GPRO]]) says it is spinning off its industrial testing business into an independent company, called Roka Bioscience, that is developing real-time molecular tests for biopharmaceutical, food, and water safety testing. Gen-Probe plans to initially own 19.9 percent of the new company. Affiliates of three private … Continue reading “Gen-Probe Spins Off New Company, Roka Bioscience, For Industrial Testing”