Google Ventures has joined Silicon Valley’s Kleiner Perkins Caufield & Byers as an investor in V-Vehicle Co., the San Diego-based startup automaker developing a new line of fuel-efficient cars. The company plans to build its cars in northeastern Louisiana. Joe Fisher, a New York spokesman for the San Diego startup automaker, confirmed the corporate venture … Continue reading “Google Ventures Emerges as Investor in San Diego’s V-Vehicle Co.”
Author: Bruce V. Bigelow
After Weathering First-Year Challenges, KidZui Launches a ‘YouTube for Kids’
KidZui, a San Diego Internet startup for children, says it is launching ZuiTube—a kind of YouTube with a user-interface designed for kids and a library of almost 60,000 videos pre-approved by an editorial team of parents and teachers. The online video destination is free, but the essential challenge for ZuiTube, like KidZui itself, is differentiating … Continue reading “After Weathering First-Year Challenges, KidZui Launches a ‘YouTube for Kids’”
SpectraScience Seeking $5M
San Diego medical device maker SpectraScience, (OTCBB: [[ticker:SCIE]]) has raised $930,000 of a planned $5 million round, according to a recent SEC filing. The funding is being raised from individual investors, according to CEO Jim Hitchin, who founded SpectraScience on optical biopsy technology salvaged from the bankruptcy of GV Medical, a Minnesota medical technology company. He says SpectraScience plans to use … Continue reading “SpectraScience Seeking $5M”
SDNN Raises $707K
The San Diego News Network, which operates a website that provides news and information about the San Diego community, says it has raised $707,220 out of a planned $2 million in early stage funding, according to a recent regulatory filing. The online startup, which launched operations about five months ago, counts former San Diego Union-Tribune … Continue reading “SDNN Raises $707K”
Sweet Deal With Firmenich Gives Senomyx Clear Path Forward
San Diego’s Senomyx (NASDAQ: [[ticker:SNMX]]) has a clearer road ahead in its development of flavor-enhancing ingredients, after the company said yesterday it will pocket a $10-million upfront payment as part of an expanded collaboration with Switzerland’s Firmenich. Senomyx, which is reporting its second-quarter earnings this morning, says its deal with the world’s largest private company … Continue reading “Sweet Deal With Firmenich Gives Senomyx Clear Path Forward”
The Inside Story of SAIC and Network Solutions (a Tale in Two Parts), Rayspan Raises Capital, & Other San Diego BizTech News
It was a light week for technology stories in San Diego last week, as I took time away from Xconomy for a family road trip through the Pacific Northwest. The traffic along Interstate 5 was mild, however, in comparison to the record Internet traffic on Xconomy’s San Diego website for our two-part story about SAIC, Network … Continue reading “The Inside Story of SAIC and Network Solutions (a Tale in Two Parts), Rayspan Raises Capital, & Other San Diego BizTech News”
The Untold Story of SAIC, Network Solutions, and the Rise of the Web—Part 2
The beginning of the Internet gold rush is often dated with some precision—the date of Netscape Communications’ IPO, on Aug. 9, 1995—even though a broad array of Internet-related technologies had been under development for years before that. A case in point is Network Solutions Inc., a small Herndon, VA, computer networking company that was acquired … Continue reading “The Untold Story of SAIC, Network Solutions, and the Rise of the Web—Part 2”
The Untold Story of SAIC, Network Solutions, and the Rise of the Web—Part 1
Even when the Internet boom was happening—even during the incandescent gold rush years of the late 1990s—Network Solutions was not exactly a household corporate name. Not compared to the first wave of companies like America Online or Netscape Communications, whose Aug. 9, 1995, IPO seems to be the demarcation line between everything that existed before … Continue reading “The Untold Story of SAIC, Network Solutions, and the Rise of the Web—Part 1”
New Biotech in Town: Relocated Helicon Therapeutics Raises $50 Million
Helicon Therapeutics, a San Diego biotech developing drugs to enhance memory, has raised $50 million from undisclosed investors, according to a recent filing with the U.S. Securities and Exchange Commission. Although the filing was dated June 24, it was not among the second quarter venture capital fundings in the recent MoneyTree Report, according to Emily … Continue reading “New Biotech in Town: Relocated Helicon Therapeutics Raises $50 Million”
Beck’s CEO Looks to SAIC’s Buyout, San Diego’s Venture Funding Improves, Korean Watchdog Slaps Qualcomm With $208M Fine, & And More San Diego BizTech News
Venture capital investments are viewed as one indicator of economic health, and a couple of reports last week suggest that San Diego’s VC actvity is recuperating—or at least stabilizing. Catch up on that and other developments in local biztech news below. (Meanwhile, we’re keeping the lights on at Xconomy San Diego, but I’m going to recharge … Continue reading “Beck’s CEO Looks to SAIC’s Buyout, San Diego’s Venture Funding Improves, Korean Watchdog Slaps Qualcomm With $208M Fine, & And More San Diego BizTech News”
Startups Just Want to Have Funds: A Roundup of Recent San Diego Deals
Venture deals seem to be picking up again in the San Diego region. A number of local startups have been raising capital, according to recent filings with the U.S. Securities and Exchange Commission. Many of the deals are relatively small, suggesting that VC firms are still being conservative in their investments following what seemed like … Continue reading “Startups Just Want to Have Funds: A Roundup of Recent San Diego Deals”
Korean Agency Fines Qualcomm $208M
Following a three-year inquiry and a seven-day hearing, the Korean Fair Trade Commission has fined Qualcomm $208 million and ordered the San Diego wireless chipmaker to end its unfair business practices in South Korea. In a statement, Qualcomm says it disagrees with the ruling and plans to appeal. Korean press reports say it is the largest fine to … Continue reading “Korean Agency Fines Qualcomm $208M”
VC Biotech Funding Rebounds, Biogen Idec Co-Founder Resigns From Board, Pathway Genomics Debuts $250 Personal Genome Test, & More San Diego Life Sciences News
Venture capital funding for San Diego’s life sciences companies was surprisingly strong from April through June—with another deal announced this week. —One of the key trends to be teased out of venture capital investment data for the second quarter of this year is that VC funding for life science companies rebounded to record levels. In San … Continue reading “VC Biotech Funding Rebounds, Biogen Idec Co-Founder Resigns From Board, Pathway Genomics Debuts $250 Personal Genome Test, & More San Diego Life Sciences News”
Qualcomm Anticipates Fine in Korean Probe of Anticompetitive Practices
[Updated July 23 at 8:30 a.m PT: South Korea’s antitrust watchdog set a $208M fine. More details are here.] Qualcomm, the San Diego wireless technology giant, has remained resilient through the recession so far, and today the chipmaker raised its forecast for fiscal-year revenue and operating income due to a healthy demand for its products. Chairman and CEO … Continue reading “Qualcomm Anticipates Fine in Korean Probe of Anticompetitive Practices”
BeneChill Raises $13.5 Million to Commercialize Medical Cooling Device
Perhaps it’s a sign of the “coolness” of medical device technology in San Diego. Fresh on the heels of Philips Electronics’ purchase of San Diego-based InnerCool Therapies, which uses cooling therapies to treat patients, BeneChill says it has raised $13.5 million in a Series C round of venture funding. In its statement, BeneChill says a … Continue reading “BeneChill Raises $13.5 Million to Commercialize Medical Cooling Device”
A Low Wind Blows Fair as Knight & Carver Shipyard Sails Into Wind Turbine Business
The Knight & Carver Yacht Center was founded in 1971 along the southeastern shore of San Diego Bay, where it continues to build and repair large boats, specializing in custom-built yachts and commercial passenger vessels. Because so many boat hulls are made of fiberglass, the National City, CA-based boatyard also has worked extensively with fiberglass … Continue reading “A Low Wind Blows Fair as Knight & Carver Shipyard Sails Into Wind Turbine Business”
San Diego’s Slight Rebound in Venture Investing Reflects Broader Trends—Region’s Top Deals List
Following a nationwide trend, venture capital investments in San Diego region strengthened during the second quarter that ended June 30, but still remained well below funding levels at this time last year. Regional data released by Dow Jones VentureSource shows VCs invested $208.8 million in 25 San Diego deals, a 40 percent decline from the … Continue reading “San Diego’s Slight Rebound in Venture Investing Reflects Broader Trends—Region’s Top Deals List”
VC Investing Activity Shows Some Gains in Second Quarter, But Still Well Below 2008 Levels
Venture capital invested in U.S. startups during the second quarter was roughly half the amount invested during the same quarter last year, but two venture capital surveys found encouraging signs of improvement from the abysmal first three months of 2009. VCs put $3.67 billion into 612 deals during the three months that ended June 30, … Continue reading “VC Investing Activity Shows Some Gains in Second Quarter, But Still Well Below 2008 Levels”
Synthetic Genomics Gets Big Oil Funding for Algae Biofuel, Qualcomm May Pull Plug on LifeComm, Aculon’s Nanocoating Replaces Toxic Chromium, & More San Diego BizTech News
The biggest news by far last week was ExxonMobil’s decision to invest $600 million in biofuels, with half of that going to San Diego’s Synthetic Genomics. A number of companies also launched new technology iniatives. To find out what’s happening, just keep reading. —ExxonMobil, the world’s largest oil company, said last week it plans to … Continue reading “Synthetic Genomics Gets Big Oil Funding for Algae Biofuel, Qualcomm May Pull Plug on LifeComm, Aculon’s Nanocoating Replaces Toxic Chromium, & More San Diego BizTech News”
Femta Raises $1M
Femta Pharmaceuticals, a San Diego biotech developing a new generation of antibody therapeutics, is raising $1 million in venture captial, according to a recent filing with government regulators. Investors were not disclosed in the filing, although San Francisco’s Latterell Venture Partners identifies Femta as one of its portfolio companies. Femta was founded last year.
To ESRI’s Thompson, GIS Mapping Innovations Are The ‘Canvas On Which We Draw the Story of Analysis’
I met Simon Thompson at the center of the GIS world, which was set at least for several days this week at 32.7090 degrees North, 117.1644 degrees West. Those are the coordinates for the main exhibit hall of the San Diego Convention Center, where more than 12,000 people interested in GIS, or Geographic Information Systems, … Continue reading “To ESRI’s Thompson, GIS Mapping Innovations Are The ‘Canvas On Which We Draw the Story of Analysis’”
Aculon Offers Cleantech Breakthrough as it Commercializes Nanocoating Technology
After getting a briefing last month from Aculon CEO Ed Hughes, I would not have thought of the five-year-old San Diego startup as a cleantech company. Nanotechnology? Yes. Materials Science? Absolutely. Cleantech? Nah, not really. Yet Aculon is announcing today that it has developed a formulation of its proprietary nanocoating technology to replace certain applications … Continue reading “Aculon Offers Cleantech Breakthrough as it Commercializes Nanocoating Technology”
Pathway Genomics Has $250 DNA Test
A San Diego startup has joined the stampede of medical diagnostic startups that are offering to help consumers decode their own personal genome to determine their risk for disease. Pathway Genomics, which announced its debut yesterday, joins Complete Genomics and 23andMe, which are both based in Mountain View, CA, Navigenics of Foster City, CA, and … Continue reading “Pathway Genomics Has $250 DNA Test”
Qualcomm, Unable to Raise Capital, May Be Terminating LifeComm
Struggles to find third-party financial support has prompted San Diego’s Qualcomm (NASDAQ: [[ticker:QCOM]]) to stop supporting LifeComm, its startup healthcare mobile network, according to a report by Mobihealthnews, a Boston website covering the wireless health industry. Attributing the information to an anonymous source, Mobihealthnews reported yesterday that Qualcomm is pulling the plug on LifeComm. In response to a … Continue reading “Qualcomm, Unable to Raise Capital, May Be Terminating LifeComm”
Sciele Pharma Cancels Victory Pharma Buyout, Life Science Startups Raise Capital, Sorrento Therapeutics Engineers Reverse Merger, & More San Diego Life Sciences News
We saw a couple of San Diego’s life sciences companies successfully raise capital in the past week. But a couple of others experienced problems that would have been difficult to anticipate. —Sciele Pharma, an Atlanta, GA, unit of Japan’s Shionogi & Co. left San Diego’s Victory Pharma at the altar last week, after announcing in … Continue reading “Sciele Pharma Cancels Victory Pharma Buyout, Life Science Startups Raise Capital, Sorrento Therapeutics Engineers Reverse Merger, & More San Diego Life Sciences News”
Philips Acquires InnerCool, San Diego Startup That’s Run Hot and Cold
Royal Philips (NYSE: [[ticker:PHG]]), the Dutch conglomerate, says today it has agreed to acquire the assets of InnerCool Therapies, a once-hot San Diego medical device startup, in a deal with an overall value of $12.75 million. InnerCool was founded in 1998 and raised about $50 million from Kleiner Perkins Caufield and Byers, Credit Suisse First … Continue reading “Philips Acquires InnerCool, San Diego Startup That’s Run Hot and Cold”
Early View of Second Quarter Shows VC Investing Activity at $5.3B, Up 61 Percent
We got an early peek at second-quarter VC investing today from ChubbyBrain, a New York-based information service (and new Xconomy partner) that uses a “structured wiki” to collect data on startups, and monitors venture capital investments nationwide. ChubbyBrain says venture activity bounced back, with more than $5.3 billion invested during the three months that ended in … Continue reading “Early View of Second Quarter Shows VC Investing Activity at $5.3B, Up 61 Percent”
Quasar Unveils Innovative Sensors for Detecting Subsea Oil and Gas Deposits
In its quest to discover new offshore oil and gas deposits, the petroleum industry has achieved some extraordinary technology innovations. Seismic surveys, which collect data about subsea rock formations by bouncing sound waves off the ocean bottom, have become increasingly sophisticated. With advances in sensors, software algorithms, and high-performance computer processing, such surveys have enabled … Continue reading “Quasar Unveils Innovative Sensors for Detecting Subsea Oil and Gas Deposits”
Covario Service Ranks Websites’ SEO
San Diego-based Covario, the software analytics startup that specializes in search engine optimization, or SEO, is introducing new software-as-a-service that poses a direct challenge to web development agencies. The company says their program automates the process of analyzing web traffic at a customer’s corporate website, a time-consuming job often performed by agencies. Covario’s program scores a … Continue reading “Covario Service Ranks Websites’ SEO”
Synthetic Genomics to Build Algae Biofuels Facility in San Diego
The $600 million that ExxonMobil is investing to develop algae-based biofuels, including at least $300 million through its partnership with San Diego’s Synthetic Genomics, represents the largest single investment in the emerging technology, according to J. Craig Venter, Synthetic Genomics’ founding CEO. Venter and Emil Jacobs, a vice president at ExxonMobil Research and Engineering, discussed … Continue reading “Synthetic Genomics to Build Algae Biofuels Facility in San Diego”
The Medium is the Message as VoxOx Unifies, Updates Communications Services
San Diego’s TelCentris is announcing an upgrade to its VoxOx universal communicator service that includes a personal assistant feature, a virtual service that can answer your phone calls and route them according to your personal preferences. With the technology, you can direct phone calls from a family phone to reach you on your cell phone, … Continue reading “The Medium is the Message as VoxOx Unifies, Updates Communications Services”
ExxonMobil Makes $600 Million Bet on Biofuels—And Synthetic Genomics
J. Craig Venter, the maverick co-founder of San Diego’s Synthetic Genomics, has been hinting that the company had a huge funding announcement in the works—and tonight The New York Times has the story on its website. The newspaper says ExxonMobil has laid plans to invest $600 million or more in the development of renewable, algae-derived … Continue reading “ExxonMobil Makes $600 Million Bet on Biofuels—And Synthetic Genomics”
Cymer Shrinks Chip Circuitry
In a major step toward making microcircuits just 10-nanometers apart, San Diego’s Cymer (NASDAQ: [[ticker:CYMI]]) says it has shipped its first laser-produced plasma (LPP) extreme ultraviolet laser machine to ASML in The Netherlands. Cymer says ASML will use the machine in development and testing of its next generation extreme ultraviolet (EUV) lithography scanners. Cymer says … Continue reading “Cymer Shrinks Chip Circuitry”
Japan’s DoCoMo Acquires Stake in PacketVideo, Helix Wind Advances Business, General Atomics to Build Hybrid-Electric Prototype, & More San Diego BizTech News
Amid fresh signs of concern for venture capital in San Diego, we saw some local technology startups take big risks to push their business forward. Our wrap-up of the week’s innovation news begins now. —The largest wireless communications provider in Japan, NTT DoCoMo, invested $45.5 million to acquire a 35 percent stake in PacketVideo, the … Continue reading “Japan’s DoCoMo Acquires Stake in PacketVideo, Helix Wind Advances Business, General Atomics to Build Hybrid-Electric Prototype, & More San Diego BizTech News”
Midway Games Closing SD Studio
The Chicago-based maker of “Mortal Kombat” has given its San Diego video design studio 60 days to live, according to The San Diego Union-Tribune. Midway Games, which filed for bankruptcy reorganization in February, sold the bulk of its assets for $33 million earlier this month to Warner Brothers Entertainment. Warner Brother’s acquisition included development studios in … Continue reading “Midway Games Closing SD Studio”
Helixis Raises $5.5M
Helixis, a Carlsbad, CA, biomedical diagnostics startup founded in 2007, has raised $5.5 million in a secondary round that aims to total $6.5 million in venture funding, according to a report in PE Hub. The company says it was created to make advanced molecular diagnostic products more accessible for critical medical and scientific use. Domain Associates, Advanced Technology … Continue reading “Helixis Raises $5.5M”
General Atomics to Build a Prototype for Hybrid-Electric Prius of the Seas
Saving money on fuel by developing new types of hybrid engines is not just the pursuit of automakers any more. Under a government contract awarded earlier this week, San Diego’s General Atomics is developing a new hybrid electric drive system for a U.S. Navy warship. “I think it has huge potential,” says Carl Fisher, who … Continue reading “General Atomics to Build a Prototype for Hybrid-Electric Prius of the Seas”
TorreyPines Delays its Dissolution
What if a company called a special shareholder meeting and nobody voted? Executives at San Diego’s TorreyPines Therapeutics pondered the question today after failing to muster enough votes for a proposal to liquidate and dissolve the company. In a statement, TorreyPines said 62 percent of the biotech’s stockholders failed to vote on the issue, which the … Continue reading “TorreyPines Delays its Dissolution”
Nexus Biosystems Raises $5M
Nexus Biosystems, a four-year-old biotech tools maker in Poway, CA, has raised $5 million in venture funding from Telegraph Hill Partners, a private equity firm based in San Francisco, according to a regulatory filing. Nexus CEO John Lillig, who declined to comment on the filing, told me the company specializes in making automated sample storage and retrieval systems capable … Continue reading “Nexus Biosystems Raises $5M”
Intellikine Raises $28.5M, Cadence Awaits FDA Action, Somaxon Seeks FDA Approval Again for Insomnia Drug, & More San Diego Life Sciences News
We had some good news, mixed news, and odd news about San Diego’s life sciences companies over the past week. Read on for our full spectrum of coverage. —San Diego’s Intellikine said in a recent regulatory filing that it had raised $16 million in venture capital, and plans to raise an additional $22.5 million. But … Continue reading “Intellikine Raises $28.5M, Cadence Awaits FDA Action, Somaxon Seeks FDA Approval Again for Insomnia Drug, & More San Diego Life Sciences News”
Arena Raises $52.1M in Offering
San Diego’s Arena Pharmaceuticals (NASDAQ: [[ticker:ARNA]]) was trading just under $4 a share today, after the company priced its secondary public offering of 12.5 million shares yesterday at $4.17. Arena shares closed Tuesday at $4.67. Arena said last month that it had arranged $100 million in debt financing with Deerfield Management, a significant shareholder, that’s needed … Continue reading “Arena Raises $52.1M in Offering”
Venture Capital Fundraising Down by 63 Percent So Far This Year
In news that’s not exactly unexpected, a mid-year survey shows that fundraising among U.S. venture capital firms is near low ebb, with the total raised so far at the lowest point since 2003, when 34 VC funds raised $2.2 billion in the first half of the year. The survey released today by Dow Jones Private … Continue reading “Venture Capital Fundraising Down by 63 Percent So Far This Year”
Small is Beautiful: Helix Power’s Weinbrandt Sees a Small Wind Turbine On Every Rooftop
Scott Weinbrandt spent 25 years working in computer technology, including 10 years as an executive at Dell, the direct-sales computer giant, as well as time as a senior vice president at Gateway, the onetime San Diego computer maker that is now part of Acer. During that time, the computer industry moved from centralized mainframes to … Continue reading “Small is Beautiful: Helix Power’s Weinbrandt Sees a Small Wind Turbine On Every Rooftop”
Somaxon Renews its Insomnia Drug Application, Raises $6M
San Diego’s Somaxon Pharmaceuticals (Nasdaq: [[ticker:SOMX]]) says it has submitted a revised new drug application for its insomnia drug doxepin (Silenor), and the biotech raised about $6 million in a private stock placement to see it through the NDA process. As I noted in February, the U.S. Food and Drug Administration turned down Somaxon’s initial … Continue reading “Somaxon Renews its Insomnia Drug Application, Raises $6M”
The Angel View on San Diego’s VC Landscape: Q&A With Tech Coast Angels’ Mayer and Elconin
Ralph Mayer got involved in Southern California’s Tech Coast Angels almost as soon as he moved to San Diego a decade ago, after working on computer-assisted design technologies at Chelmsford, MA-based Adra Systems and its sister company, MatrixOne. Now Mayer is chairman of the board of governors at the Tech Coast Angels, which bills itself … Continue reading “The Angel View on San Diego’s VC Landscape: Q&A With Tech Coast Angels’ Mayer and Elconin”
Behind NTT DoCoMo’s $45.5M Stake in PacketVideo
NTT DoCoMo, the Japanese wireless communications provider, has invested $45.5 million to acquire a 35 percent stake in PacketVideo, the only operating company of San Diego digital media provider NextWave Wireless (NASDAQ: [[ticker:WAVE]]). In a statement released last night, PacketVideo says the all-cash transaction is intended to strengthen DoCoMo’s position as a provider of music … Continue reading “Behind NTT DoCoMo’s $45.5M Stake in PacketVideo”
With Accounting Troubles in the Past, BakBone Gets Back to Business
Jim Johnson was named CEO of San Diego’s BakBone Software in late 2004, but he has only recently been focusing his full attention on what he was hired to do: expanding the company’s business and product lines. Embarking on something of a shopping spree in May, Johnson oversaw BakBone’s purchase of the assets of Santa … Continue reading “With Accounting Troubles in the Past, BakBone Gets Back to Business”
MojoPages Gets Austin Powered, Reaction Design’s Technology is on Fire, ParAccel Raises $22M, & Other San Diego BizTech News
It was a week of deals before the Fourth of July weekend—partnership deals, funding deals, and even some buyout deals. So let’s just deal ’em. —ParAccel, which develops business analytics technologies that accelerate database queries, moved into new digs in San Diego six months ago—after doubling its staff to 60 employees. Now the company, which … Continue reading “MojoPages Gets Austin Powered, Reaction Design’s Technology is on Fire, ParAccel Raises $22M, & Other San Diego BizTech News”
Bakersfield Firm Re-Energizing San Diego’s Pyron Solar
Bakersfield businessman Stan Ellis, whose Ellis Energy Investments recently acquired Pyron Solar, says he’s keeping Pyron’s headquarters in San Diego but he plans to outsource much of the manufacturing. Ellis, who announced the acquisition of Pyron’s assets and intellectual property Tuesday, declined to disclose Pyron’s purchase price in a telephone interview yesterday. But he says … Continue reading “Bakersfield Firm Re-Energizing San Diego’s Pyron Solar”
Sequenom Discloses SEC Probe, How Evoke Pharma Got its Drug, Illumina Sales Fall Short, & More San Diego Life Sciences News
We had a mixed bag of bad and good news from the San Diego life sciences industry this week heading into the holiday weekend. —At least 11 shareholder lawsuits have been filed against San Diego’s Sequenom (NASDAQ: [[ticker:SQNM]]) since the medical diagnostics company disclosed on April 29 that four employees were suspended for “mishandling” research … Continue reading “Sequenom Discloses SEC Probe, How Evoke Pharma Got its Drug, Illumina Sales Fall Short, & More San Diego Life Sciences News”