San Diego’s Vical (NASDAQ: [[ticker:VICL]]), which specializes in developing DNA vaccines, says it received a $2.3 million payment from Japan’s AnGes MG to continue its work on a phase 3 trial of its Allovectin-7 vaccine for metastatic melanoma. Vical says it has received $17.6 million in total payments so far out of $22.6 million that … Continue reading “Vical Gets $2.3M for Phase 3 Trial”
Author: Bruce V. Bigelow
In Memoriam: Our dear friend Bruce V. Bigelow passed away on June 29, 2018. He was the editor of Xconomy San Diego from 2008 to 2018. Read more about his life and work here.
Bruce Bigelow joined Xconomy from the business desk of the San Diego Union-Tribune. He was a member of the team of reporters who were awarded the 2006 Pulitzer Prize in National Reporting for uncovering bribes paid to San Diego Republican Rep. Randy “Duke” Cunningham in exchange for special legislation earmarks. He also shared a 2006 award for enterprise reporting from the Society of Business Editors and Writers for “In Harm’s Way,” an article about the extraordinary casualty rate among employees working in Iraq for San Diego’s Titan Corp. He has written extensively about the 2002 corporate accounting scandal at software goliath Peregrine Systems. He also was a Gerald Loeb Award finalist and National Headline Award winner for “The Toymaker,” a 14-part chronicle of a San Diego start-up company. He takes special satisfaction, though, that the series was included in the library for nonfiction narrative journalism at the Nieman Foundation for Journalism at Harvard University.
Bigelow graduated from U.C. Berkeley in 1977 with a degree in English Literature and from the Columbia University Graduate School of Journalism in 1979. Before joining the Union-Tribune in 1990, he worked for the Associated Press in Los Angeles and The Kansas City Times.
Ferring Opens New Research Center
Switzerland’s Ferring Pharmaceuticals, which established the Ferring Research Institute in San Diego in 1996, celebrated the opening of its new research facility here last night. Ferring describes itself as a leading biopharmaceuticals center for peptide research, and last night’s event also provided an opportunity for the Swiss pharma to promote degarelix, the first peptide “new … Continue reading “Ferring Opens New Research Center”
Advice on Physics for Future Presidents From the Debunker in Chief
The President of the United States is supposed to know the differences between Sunni and Shia Muslims. But somehow, as Richard Muller points out, nobody expects America’s commander in chief to know the differences between uranium and plutonium, or between gasoline and hydrogen. That’s why he teaches “Physics for Future Presidents” at UC Berkeley, a … Continue reading “Advice on Physics for Future Presidents From the Debunker in Chief”
CEO Resigns at Xenonics
Carlsbad, CA-based Xenonics (AMEX: [[ticker:XNN]]) says the responsibilities of CEO have been assumed by the company’s executive committee following the resignation of Chuck Hunter as CEO. The company, which makes night-vision equipment and ultra-high-illumination lights for military, law enforcement and commercial customers, says Hunter will continue as a consultant for the company. Xenonics’ executive committee consists … Continue reading “CEO Resigns at Xenonics”
Countdown to Physics for Future Presidents—See You This Afternoon!
We’re looking forward to seeing you today at Xconomy’s San Diego premiere, an entertaining and eye-opening presentation on Physics for Future Presidents by UC Berkeley’s Richard A. Muller. Online registration for the event, which is here, closes at noon and walk-in registrations begin at 3:30 pm The presentation begins at 4 pm—hope to see you … Continue reading “Countdown to Physics for Future Presidents—See You This Afternoon!”
Behind the Prize at the X Prize: A New Model For Venture Capital
At a time when many people are saying the traditional venture capital model is broken, an influential Internet pioneer has developed a fundamentally different concept for investing in innovation. San Diego resident Lee Stein explained his concept to me in a long conversation last week. He already has given shape to his idea in the … Continue reading “Behind the Prize at the X Prize: A New Model For Venture Capital”
SynergEyes Gets $13.3M, Carl Icahn Aims to Shake Up BiogenIdec Board, Layoffs Mount, & More San Diego BizTech News
San Diego’s biotech executives may be hearing billionaire investor Carl Icahn’s name more often than they care to. We begin our roundup today with Icahn, who has been increasing his stake in and demanding changes at San Diego’s Amylin Pharmaceuticals (NASDAQ: [[ticker:AMLN]]), also wants to shake up management at Biogen Idec, which is based in Cambridge, … Continue reading “SynergEyes Gets $13.3M, Carl Icahn Aims to Shake Up BiogenIdec Board, Layoffs Mount, & More San Diego BizTech News”
Cohu Eliminates 60 Jobs
San Diego’s Cohu (NASDAQ: [[ticker:COHU]]), which makes test-handling equipment for semiconductor manufacturers, disclosed some “headcount reductions,” without being more specific, when it reported its fourth-quarter financial results on Thursday. This afternoon, I tracked down Cohu chief financial officer Jeffrey Jones, who said the company laid off 60 employees, which consisted of roughly 40 workers in … Continue reading “Cohu Eliminates 60 Jobs”
Hybrid Contact Lens-Maker SynergEyes Gets $13.3M in Venture Round
During a recent discussion on the outlook in San Diego for venture funding in biotech, Sofinnova Ventures’ David Kabakoff noted that one way VCs are coping with the downturn is by broadening the syndication of their deals. That’s apparent in the $13.3 million in Series C funding announced today by SynergEyes, a Carlsbad, CA, startup that’s … Continue reading “Hybrid Contact Lens-Maker SynergEyes Gets $13.3M in Venture Round”
Physics For Presidents—And the Voters Who Elect Them! Get Ready for Xconomy’s First San Diego Event
If President Obama ever has a question about the asteroid that killed the dinosaurs, he can just pick up his Presidential Blackberry and call or e-mail Secretary of Energy Steven Chu, the Nobel Prize-winning physicist. Of course, the President of the United States could just as easily call Richard A. Muller—the U.C. Berkeley professor who … Continue reading “Physics For Presidents—And the Voters Who Elect Them! Get Ready for Xconomy’s First San Diego Event”
City’s Study of Solar Permit Fees Sets Off Cleantech Alarms
Earlier this week, I got an e-mail from an indignant solar panel installer who had heard the City of San Diego is planning to raise its fees for solar permits and inspections. “This is outrageous at a time when city, state and federal leaders are doing everything possible to increase the deployment of solar energy.” … Continue reading “City’s Study of Solar Permit Fees Sets Off Cleantech Alarms”
TriTech Gets Public Safety Contract
The City of San Antonio, TX, has awarded a $14.7 million contract to San Diego’s TriTech Software Systems to develop a comprehensive emergency communications system for the region. TriTech says it will install its computer-aided dispatch, mobile data and records management system for the Alamo Region Public Safety System. TriTech’s technology will coordinate law enforcement, … Continue reading “TriTech Gets Public Safety Contract”
X Prize Foundation Awards $25K for Best “Crazy Green Idea” Video
What began in Boston last September as a contest to generate ideas for a new “Energy X Prize” has ended in El Segundo, CA, with two UC Irvine students winning the $25,000 award. The X Prize Foundation, which organized the competition, identified the winners today as second-year undergrads Kyle Good of Temecula, CA, and Bryan … Continue reading “X Prize Foundation Awards $25K for Best “Crazy Green Idea” Video”
Solar Contractor Plans Mid-Atlantic Expansion With $14M Infusion
Privately held Borrego Solar Systems, which designs and installs solar power systems, said today it has received $14 million in venture funding to fuel its expansion into the Mid-Atlantic Region. The contractor based in El Cajon, CA, (about 15 miles East of San Diego) currently installs rooftop photovoltaic systems on commercial, residential and government buildings, … Continue reading “Solar Contractor Plans Mid-Atlantic Expansion With $14M Infusion”
Qualcomm’s Best-Laid Plans for Cell Phone TV Service
Updated Feb. 4 at 3:55 p.m. PST with the House of Representatives approving a four-month delay in DTV conversion. See below for more details. At the Consumer Electronics Show in January, Qualcomm’s MediaFlo subsidiary unveiled plans to nearly double its FLO TV service for cell phones, by expanding into 108 U.S. markets this year. The San … Continue reading “Qualcomm’s Best-Laid Plans for Cell Phone TV Service”
After the Bubble Burst, Mike Krenn Built a Venture Pipeline
While Mike Krenn is a person of dignity and influence, I still have vivid memories of him almost nine years ago, dressed like a demented Riddler from an episode of Batman. Not the dark and moody Batman in favor nowadays. I mean the ludicrous, campy Batman of weekday television, circa 1966. The date was March … Continue reading “After the Bubble Burst, Mike Krenn Built a Venture Pipeline”
Hollis-Eden Lays Off One-Third in “Aggressive” Cost-Cutting
San Diego’s Hollis-Eden Pharmaceuticals (NASDAQ: [[ticker:HEPH]]) said today it’s laying off 20 employees—a third of its workforce—as part of an aggressive cost-cutting plan to preserve capital until 2011. The San Diego layoff tracker has been updated here. Hollis-Eden specializes in developing small molecule compounds based on adrenal steroid hormones and that are intended to restore … Continue reading “Hollis-Eden Lays Off One-Third in “Aggressive” Cost-Cutting”
THQ Closes San Diego Office to Focus Wireless Game Development on Smartphones
Video game maker THQ (NASDAQ: [[ticker:THQI]]) confirmed today the company is closing down its wireless game development unit in San Diego and laying off 31 employees. (Check San Diego’s updated layoff tracker here.) The cutback is part of a broader consolidation of wireless game development that includes shutdowns of similar operations in the United Kingdom … Continue reading “THQ Closes San Diego Office to Focus Wireless Game Development on Smartphones”
Creating Successful Apps for the Apple iPhone
Facedouble.com’s Alex Shah provides a case study in what to do and what not to do when it comes to developing and marketing an iPhone app. The seminar, sponsored by the San Diego Software Industry Council, is open to members and non-members. But you must pre-register here.
How Did They Do It? The Breakout Companies of 2008
The San Diego Venture Group has recruited a group of venture capitalists, media, and key service providers to nominate companies that stood out in 2008 for local “Breakout Company of the Year.” The SDVG board will then choose two winners—one life sciences venture and one technology venture. They will both be announced at the breakfast … Continue reading “How Did They Do It? The Breakout Companies of 2008”
Commercial Leasing Strategies for Startups
Experts in the San Diego commercial real estate market review current data on availability, rental rates, and tactics that can help nontraditional companies limit their exposure. The event is intended for business leaders who make commercial leasing decisions. Registration begins at 7:30 a.m., or register online at Connect.
Qualcomm’s MediaFLO Depends on DTV Switchover, Carl Icahn Raises Stakes for Amylin, Slacker Gets $5M, & More San Diego BizTech News
With patents counted, investments disclosed, and financial results reported, San Diego wireless giant Qualcomm seemed to dominate the Xconomy news last week. There were plenty of other developments, though, in life sciences, robotics, and other sectors of the innovation economy. Read on! —By necessity, a few interesting nuggets got left out when we compiled our … Continue reading “Qualcomm’s MediaFLO Depends on DTV Switchover, Carl Icahn Raises Stakes for Amylin, Slacker Gets $5M, & More San Diego BizTech News”
SG Biofuels, Emerging From Stealth, Aims to Make Biodiesel From Hardy Shrub
Another San Diego biofuel company is coming out of stealth mode today. SG Biofuels specializes in developing Jatropha, a hardy shrub found throughout Latin America that produces oval-shaped seeds that can be used to produce biodiesel and other petroleum feedstocks. SG plans to make its public debut this afternoon in a presentation at the 2009 … Continue reading “SG Biofuels, Emerging From Stealth, Aims to Make Biodiesel From Hardy Shrub”
Gen-Probe Buys UK Diagnostics Company
San Diego-based Gen-Probe (NASDAQ: [[ticker:GPRO]]) says it’s buying Tepnel Life Sciences, a British medical diagnostics company, for about $132.2 million. Gen-Probe chairman and CEO Hank Nordoff says the buyout expands Gen-Probe’s focus on nucleic acid tests by adding Tepnel’s expertise in genetic tests for cystic fibrosis, Down syndrome and inherited levels of high cholesterol. Gen-Probe’s … Continue reading “Gen-Probe Buys UK Diagnostics Company”
Burnham Gets $10M Donation
Conrad Prebys, a San Diego real estate investor and philanthropist, is giving $10 million to the Burnham Institute for Medical Research to support Burnham’s drug discovery center. After getting a $98 million grant in September from the National Institutes of Health, Burnham’s renamed Conrad Prebys Center for Chemical Genomics has become part of the largest … Continue reading “Burnham Gets $10M Donation”
Kyocera Cuts 250 Wireless Jobs
Kyocera plans to lay off 250 employees from its mobile phone division in San Diego, where the Japanese electronics giant maintains its North American headquarters. The cutbacks, reported today in the San Diego Union-Tribune, resulted from the economic downturn and a consolidation of wireless engineering functions in Japan following Kyocera’s purchase of Sanyo’s cell phone unit for … Continue reading “Kyocera Cuts 250 Wireless Jobs”
VC Group Plots Familiar Strategy For Industry Recovery
The venture capital model might not be completely broken, but the chairman of the National Venture Capital Association says it needs to be fixed. With only six venture-backed IPOs in 2008—the worst showing since 1976—NVCA chairman Dixon Doll says the venture industry needs to help restart stalled capital markets. Doll says the Virginia-based NVCA is … Continue reading “VC Group Plots Familiar Strategy For Industry Recovery”
Venture Funding For Audiophiles: $5 Million Round Picks Up Slacker
Slacker, the San Diego startup that provides customized music streaming, is apparently no slouch when it comes to raising venture funding. The firm raised $5 million in bridge financing this week, based on a regulatory filing picked up by Dow Jones VentureWire and VentureDeal. Founded in 2004 and headed by former MusicMatch CEO Dennis Mudd, … Continue reading “Venture Funding For Audiophiles: $5 Million Round Picks Up Slacker”
Overland Names New CEO
San Diego data storage company Overland Storage (NASDAQ: [[ticker:OVRL]]) has named board member and former Snap Appliance CEO Eric Kelly as CEO. Vern LoForti, who was Overland’s president and CEO, will continue to serve as president. Kelly, a longtime computer and data storage executive, has worked closely with Overland’s management team to formulate its restructuring … Continue reading “Overland Names New CEO”
General Atomics’ Blue Brothers Get Inducted-And That’s a Good Thing
San Diego defense contractor SAIC has been described as “the largest company nobody’s ever heard of,” but it’s been hard to make that stick since the company’s IPO in 2006. No matter. Another San Diego government contractor qualifies as heir apparent for the title. The only issue is that nobody outside of the company knows … Continue reading “General Atomics’ Blue Brothers Get Inducted-And That’s a Good Thing”
Qualcomm Dodges Bullet in Dispute Over Digital TV Conversion—For Now
Top executives at San Diego’s Qualcomm (NASDAQ: [[ticker:QCOM]]) must’ve breathed a sigh of relief today, when the U.S. House of Representatives defeated a bill that would have delayed a planned switch to digital TV on Feb. 17. The House vote against the delay followed a bill the Senate passed unanimously on Monday, which called for postponing … Continue reading “Qualcomm Dodges Bullet in Dispute Over Digital TV Conversion—For Now”
Navy to Test Northrop Grumman’s Robotic Helicopter
It has taken roughly 10 years, but a robotic helicopter created in San Diego by Northrop Grumman (NYSE: [[ticker:NOC]]) is finally nearing a critical test phase for the U.S. Navy. The unmanned aircraft, known as the Fire Scout, looks unremarkable, except for the fact that it has no windows. It is based on a small civilian … Continue reading “Navy to Test Northrop Grumman’s Robotic Helicopter”
Websense, Growing Fast, Acquires Spam Filtering Web Service
San Diego’s Websense (NASDAQ: [[ticker:WBSN]]), which develops security software for corporate computer networks and other organizations, says it has acquired Defensio, a spam filtering Web service created by two Canadians. Defensio was founded outside of Montreal, QC, to address the vexing and time-consuming problem of managing spam in the comment areas of blogs and social … Continue reading “Websense, Growing Fast, Acquires Spam Filtering Web Service”
San Diego’s Covario Rides Wave of Search Engine Marketing
I didn’t really know what to expect when I sat down with Covario CEO Russ Mann recently over a lunch of fajitas and enchiladas. Many CEOs adopt a kind of taciturn presence to maintain their command authority, but words gush from Mann. Ask a question, and he responds at length. Yet the most-succinct explanation of … Continue reading “San Diego’s Covario Rides Wave of Search Engine Marketing”
Israel’s Modu Gets Venture Funding From Qualcomm
Israel’s daily business newspaper Calcalist is reporting that San Diego’s Qualcomm has invested $7 million in modu, a modular mobile phone maker headed by the inventor of the USB flash drive. Founder and CEO Dov Moran started modu in 2007 in Kfar-Saba, Israel, after selling his previous company, msystems, to SanDisk in 2006 for $1.6 … Continue reading “Israel’s Modu Gets Venture Funding From Qualcomm”
Qualcomm Buys Multimedia Technology, SD Consortium Advances Biofuels Initiative, Biotech VCs Adapt, & More San Diego BizTech News
Before the economic downturn deepened last September, many venture capital firms maintained that their operations were unaffected by the overall economy. They’re not saying that anymore. VCs are reacting to hard times in different ways—and so are the startups and technology companies that make up the innovation economy. Some examples of how they are … Continue reading “Qualcomm Buys Multimedia Technology, SD Consortium Advances Biofuels Initiative, Biotech VCs Adapt, & More San Diego BizTech News”
Qualcomm Leads San Diego Patent Filings in Our Top 25 List
Which San Diego firms are the most inventive? When the 2008 year-end patent figures recently became available, we decided to find out. Xconomy is listing the top 25 patent winners in the San Diego region below, based on data provided by IFI Patent Intelligence of Wilmington, DE. Our compilation includes a few surprises. San Diego-based Qualcomm … Continue reading “Qualcomm Leads San Diego Patent Filings in Our Top 25 List”
SkinMedica Sues Histogen Over Trade Secrets
Privately held SkinMedica of Carlsbad says it has filed a patent infringement lawsuit against new San Diego startup Histogen and Gail Naughton, its founder and CEO. The lawsuit, which was filed in federal court in San Diego, alleges that Histogen and its affiliated Histogen Aesthetics business infringe on two SkinMedica patents related to proprietary conditioned … Continue reading “SkinMedica Sues Histogen Over Trade Secrets”
The Active Network Expands By Acquiring Campground Reservation Company
San Diego’s The Active Network, in another example of its growth-by-acquisition strategy, announced it is buying the online campground reservation provider ReserveAmerica from New York-based IAC. IAC, (NASDAQ: [[ticker:IACI]]) the conglomerate led by Barry Diller which operates more than 35 Internet businesses , agreed to sell its 100 percent ownership stake in ReserveAmerica to Active … Continue reading “The Active Network Expands By Acquiring Campground Reservation Company”
Step Into the Light: Cloudy Venture Outlook With Patches of Sun
The economic forecast for 2009 has been gloomy so far, but can a new President with new iniatives in energy, cleantech, and tax and regulatory policies alter the economic barometer? David Titus of San Diego’s Windward Ventures moderates a panel of venture capitalists who offer their outlook. The panelists are Dixon Doll, chairman of the … Continue reading “Step Into the Light: Cloudy Venture Outlook With Patches of Sun”
Drug Development in a “Capital Constrained” Economy
Three experienced biotech executives will share their insights on how drug development can be distributed among multiple partners. Such partnerships can include small biotech ventures, large pharmaceutical companies, contract research organizations and even contract manufacturers. You can register online here.
Innovation on a Shoe String
Kenneth P. Morse, managing director of the MIT Entrepreneurship Center, leads a panel discussion about hard economic times and how entrepreneurs can survive and even thrive. They also will talk about innovation on a shoe string, and the critical factors that contribute to entrepreneurial success. You can register online here.
Biotech VCs Look For Ways to Make Deals Work in the Downturn
A new wave of pragmatism has settled over the biotech industry, judging from the comments yesterday by three San Diego-based venture capitalists. Venture capital firms that specialize in biomedical investments still expect to do deals despite the downturn this year, but they are adopting new strategies to minimize risks and maximize returns.It was a theme … Continue reading “Biotech VCs Look For Ways to Make Deals Work in the Downturn”
Overland Storage Unveils New Data-Storage Initiative
After slashing 17 percent of its workforce and making other cutbacks, San Diego’s Overland Storage (NASDAQ: [[ticker:OVRL]]) announced today what CEO Vern LoForti describes as a significant initiative in the company’s turnaround effort. The longtime maker of data storage equipment has been reeling since 2005, when Hewlett-Packard said it was phasing out purchases of tape-based storage … Continue reading “Overland Storage Unveils New Data-Storage Initiative”
Qualcomm Protests Digital TV Delay
President Obama’s proposed delay of the Feb. 17 conversion to digital television has triggered a protest from San Diego’s Qualcomm (NASDAQ: [[ticker:QCOM]]). According to this report, a letter signed by CEO Paul Jacobs sent Monday to House and Senate leaders says Qualcomm has spent “hundreds of millions of dollars” preparing to launch its MediaFLO video service in 15 new … Continue reading “Qualcomm Protests Digital TV Delay”
San Diego Algae Biofuels Industry Gains Steam With R&D Consortium
The San Diego region is undertaking a broad initiative to accelerate development of algae-to-biofuels technology by establishing a new organization, the San Diego Center for Algae-based Biofuels, or SD-CAB. The center is being organized by a consortium of academic and industry researchers and represents a regional effort to make sustainable algae-based biofuel production a reality … Continue reading “San Diego Algae Biofuels Industry Gains Steam With R&D Consortium”
Metabasis Therapeutics Restructures, Cuts 38 From Staff
After replacing its CEO last month, San Diego-based Metabasis Therapeutics (NASDAQ: [[ticker:MBRX]]) says it is laying off 38 employees, or about 43 percent of its workforce. (An update to the San Diego layoff tracker is here.) “Given the tough market conditions, we have decided to refine our research and development focus and increase our efforts … Continue reading “Metabasis Therapeutics Restructures, Cuts 38 From Staff”
Medtronic Acquires Ablation Frontiers, Sequenom and Exact Sciences Go a Second Round, Qualcomm CEO Reflects on Strategy, & More San Diego BizTech News
It was like a real-world version of a TV game show in San Diego last week, with some companies announcing a “deal”—and some saying “no deal.” Let’s get on with the show: —Minnesota’s Medtronic (NYSE: [[ticker:MDT]]) gladdened the hearts of investors in Ablation Frontiers of Carlsbad, CA, by agreeing to pay $225 million upfront to … Continue reading “Medtronic Acquires Ablation Frontiers, Sequenom and Exact Sciences Go a Second Round, Qualcomm CEO Reflects on Strategy, & More San Diego BizTech News”
The Fourth Quarter Collapse: VC Funding Down Sharply in San Diego
The early returns on venture capital investments that came in over the weekend from Dow Jones VentureSource pretty much confirmed what we’ve been hearing. VC firms are battening down the hatches to weather the economic downturn. The nationwide survey showed venture funding in new companies declined by 30 percent during the last three months of … Continue reading “The Fourth Quarter Collapse: VC Funding Down Sharply in San Diego”
Qualcomm CEO Jacobs Talks Candidly About Innovation and Strategy
Constrained by legal restrictions and zealously protected by their handlers, the CEOs of Fortune 500 companies are rarely enlightening when they make public appearances. But Qualcomm (NASDAQ: [[ticker:QCOM]]) CEO Paul Jacobs delivered a close approximation of candor this morning in what was billed as a keynote presentation at the Red Herring Global 100 summit, which … Continue reading “Qualcomm CEO Jacobs Talks Candidly About Innovation and Strategy”