Dot Hill Systems Enacting Cutbacks to Save Cash

Dot Hill Systems (NASDAQ: [[ticker:HILL]]) said today it plans to shut down about 40 percent of its Carlsbad facility as part of a restructuring plan intended to save as much as $1.75 million. The company, which makes network-based data storage systems, did not disclose how many employees would be affected, but estimated its severance costs … Continue reading “Dot Hill Systems Enacting Cutbacks to Save Cash”

A Noble Mission to Turn Parking Lots into “Solar Groves”

Architect Bob Noble was the CEO of San Diego’s Tucker Sadler firm when Kyocera America asked if he would consider designing a “solar carport” for its San Diego headquarters, using photovoltaic solar panels made by Kyocera. The request might have been a non-starter at any other venerable, 50-year-old firm. Solar carports, after all, have been … Continue reading “A Noble Mission to Turn Parking Lots into “Solar Groves””

Nasdaq Halts Trading in Artes Medical

The Nasdaq market halted trading in Artes Medical this morning, with the last price of the company’s stock at 3 cents a share. In a short statement, Nasdaq said trading will remain halted until Artes has fully satisfied the electronic market’s request for additional information. Nasdaq did not describe the information it’s requested. As Ryan … Continue reading “Nasdaq Halts Trading in Artes Medical”

Cautious Cohu Buys German Rival

Warren Buffet is buying, and so is Cohu (NASDAQ: [[ticker:COHU]]). The San Diego maker of test handling equipment used by semiconductor manufacturers says it is paying $80 million in cash to buy Rasco GmbH of Munich, Germany, from Dover Corp. The company’s statement quotes Cohu CEO James Donahue as saying, “The transaction significantly expands Cohu’s … Continue reading “Cautious Cohu Buys German Rival”

Pure Bioscience Partners With Ciba; Overland Storage Gets Financing; ConfirmNet Buyout Closes; & More San Diego-Area Deals News

The rainy season is upon us here in San Diego, but the deal landscape remains a bit parched—especially when it comes to funding new companies. But a deal’s a deal, right? So here’s our rundown on deals and other news. —San Diego’s Pure Bioscience (NASDAQ: [[ticker:PURE]]) struck a global marketing agreement with Ciba, the Swiss … Continue reading “Pure Bioscience Partners With Ciba; Overland Storage Gets Financing; ConfirmNet Buyout Closes; & More San Diego-Area Deals News”

Cadence Secures Supply of Key Ingredient For Drug in Phase III Trials

San Diego’s Cadence Pharmaceuticals has entered into a long-term supply agreement with Solvay SA, a Belgian biotech giant, for the active ingredient in its Omnigard gel for treating wounds and burns. Cadence disclosed the deal in a filing with government regulators Friday, although financial terms were not revealed. If Cadence notifies Solvay after Omnigard’s phase III … Continue reading “Cadence Secures Supply of Key Ingredient For Drug in Phase III Trials”

Biofuels Maker Verenium Gets Nasdaq Delisting Notice

Verenium said late today it has fallen out of compliance for companies listed on the Nasdaq Global Market. The Cambridge-based developer of cellulosic ethanol disclosed in a regulatory filing late today that Nasdaq requires listed companies to maintain a market capitalization of at least $50 million or total assets and total revenue of $50 million each in the … Continue reading “Biofuels Maker Verenium Gets Nasdaq Delisting Notice”

Health Insuror Gives Coverage for DexCom Medical Device

The price of shares in DexCom, (NASDAQ: [[ticker:DXCM]]) a San Diego medical device maker, settled to about $2.75 in early trading today after soaring above $3 a share yesterday. The company, which makes a seven-day sensor that continuously transmits blood sugar levels for diabetics, said in a filing that health insurance provider Humana has agreed … Continue reading “Health Insuror Gives Coverage for DexCom Medical Device”

Staying Alive Through Small Business Research Grants—A Primer

The panel discussion that CommNexus organized yesterday in San Diego was intended for the telecom association’s military special interest group. But since the financial markets tanked and credit dried up, many fledgling technology companies might also be interested to know how to tap federal small business research grants. Good thing Xconomy was there, eh? The … Continue reading “Staying Alive Through Small Business Research Grants—A Primer”

DivX’s CTO Resigns

San Diego’s DivX (NASDAQ: [[ticker:DIVX]]) says its chief technology officer Markus Moenig has resigned to “return overseas and explore new entrepreneurial opportunities.” The company said Moenig’s primary focus, which was integrating H. 264 digital video technology, has been realized in its soon-to-be released DivX 7 product. The vice president of engineering, Jim Reesman, will lead … Continue reading “DivX’s CTO Resigns”

Grounded in Reality, Maxwell Technology’s CEO Dispels Static Around Ultracapacitors

Is it just me, or have ultracapacitors somehow become the latest hot and mysterious alternative energy technology? Just a few weeks ago, my Xconomy colleague Greg Huang reported that Seattle startup EnerG2 landed $8.5 million in venture funding to develop a new class of ultracapitors that use nanocomposite materials to store energy. Before that, Light … Continue reading “Grounded in Reality, Maxwell Technology’s CEO Dispels Static Around Ultracapacitors”

FDA Gives Fast-Track Status to Anadys’ Hepatitis C Drug Candidate

Shares of San Diego’s Anadys Pharmaceuticals (NASDAQ: [[ticker:ANDS]]) gave up some of the boost they got Tuesday after the company announced the Food and Drug Administration put the biotech’s drug candidate for hepatitis C on fast-track review. Anadys shares fell in early trading today, after gaining almost 20 percent Tuesday. Shares have traded between $1.36 … Continue reading “FDA Gives Fast-Track Status to Anadys’ Hepatitis C Drug Candidate”

Running Near Empty, Overland Storage May Be a Sign of The Times

I thought it was unusual when San Diego’s Overland Storage said Friday it had closed on a $9 million receivable financing agreement. All it means is that a finance company has agreed to lend Overland immediate cash for its customers’ IOUs—like one of those “payday loan” outfits. So I arranged to talk with Vern LoForti, … Continue reading “Running Near Empty, Overland Storage May Be a Sign of The Times”

Appeals Court Slams Qualcomm, Clarifies Law on Disclosing Patents to Standards Groups

A federal appellate court agreed that San Diego’s Qualcomm (NASDAQ: [[ticker:QCOM]]) should be punished for hiding its work from industry groups developing a new video technology standard. But the three-judge panel ruled that a San Diego trial judge went a step too far by invalidating Qualcomm’s patents on the video compression technology it had concealed. … Continue reading “Appeals Court Slams Qualcomm, Clarifies Law on Disclosing Patents to Standards Groups”

Pure Gets Global Marketing Partner for Germ-Killing Compound

San Diego’s Pure Bioscience, (NASDAQ: [[ticker:PURE]]) a 25-employee company, has gained a global partner for its silver-based compound that acts as a germ-killing alternative to chlorine and other chemicals. Pure gave exclusive marketing rights to Switzerland’s Ciba for silver dihydrogen citrate, or SDC, in Ciba personal care products worldwide. The deal also gave non-exclusive rights … Continue reading “Pure Gets Global Marketing Partner for Germ-Killing Compound”

San Diego’s SeaBotix Making Robots For Deep Blue See

When hurricanes Gustav and Ike blew through the Gulf of Mexico in late August and September, most offshore oil and gas production platforms were evacuated and shut down. That’s bad news for the estimated 3,800 platforms in the region, which account for roughly 25 percent of U.S. domestic oil output and 15 percent of natural … Continue reading “San Diego’s SeaBotix Making Robots For Deep Blue See”

Awarepoint Nabs $13.3M, Kratos Fuses With Digital Fusion, Pocket Communications Financing Signals Challenge for Leap Wireless, & More San Diego Deals News

As people gathered from near and far to celebrate Thanksgiving, a couple of startups with San Diego connections had more than one reason to give thanks, with deals closing on a variety of fronts, including one close to home—at home, really—for Xconomy. —Cardinal Partners of Princeton, NJ, (not to be confused with Cardinal Equity Partners … Continue reading “Awarepoint Nabs $13.3M, Kratos Fuses With Digital Fusion, Pocket Communications Financing Signals Challenge for Leap Wireless, & More San Diego Deals News”

San Diego’s Overland Storage Arranges Accounts Receivables Financing

San Diego’s Overland Storage (NASDAQ: [[ticker:OVRL]]) says it has closed a two-year deal with Marquette Commercial Finance that will help Overland’s liquidity by enabling it to finance as much as $9 million of its accounts receivables. The deal allows Overland to get cash more quickly from sales of its data storage hardware and software products, instead of waiting for … Continue reading “San Diego’s Overland Storage Arranges Accounts Receivables Financing”

Never Mind That Bailout: Venture Funding for Auto Innovation Accelerates As Startups Race to Leave Detroit in its Own Dust

Tomorrow, Detroit’s automakers are expected to give Congress a detailed plan that explains exactly how they intend to use $25 billion in taxpayer funding to engineer a turnaround—no doubt refueling the nationwide debate over the auto industry bailout. Meanwhile, venture capital funding for innovative automotive technologies has accelerated dramatically over the past five years. Investment … Continue reading “Never Mind That Bailout: Venture Funding for Auto Innovation Accelerates As Startups Race to Leave Detroit in its Own Dust”

Novocell CEO Moves to Nonprofit Juvenile Diabetes Research Foundation

The New York-based Juvenile Diabetes Research Foundation has named San Diego-based Novocell CEO Alan Lewis as its new chief executive. Lewis plans to step down from Novocell, a stem cell company developing a treatment for Type 1 diabetes, on Jan. 1. Lewis told The San Diego Union-Tribune Novocell is in a good financial shape to … Continue reading “Novocell CEO Moves to Nonprofit Juvenile Diabetes Research Foundation”

Plunging Oil Prices Require Alternative Fuel Startups to Take a Long View

Historic high prices for petroleum over the past decade have stoked a surge of interest in alternative fuels and renewable energy, and dozens of startups have been formed to develop new technologies in the field.Now this year’s extraordinary spike in crude oil prices is being matched by an equally spectacular swoon. Crude oil prices fell to … Continue reading “Plunging Oil Prices Require Alternative Fuel Startups to Take a Long View”

High Tower Software Suddenly Closes Its Gates

Aliso Viejo’s High Tower Software shut down unexpectedly Monday, SoCal Tech News reported. The venture-backed developer of network security systems saw its sales suddenly deflate in the economic downturn and investors were unwilling to provide any more capital, according to one person familiar with the company. About 34 employees lost their jobs. High Tower was founded … Continue reading “High Tower Software Suddenly Closes Its Gates”

Pocket Communications May Pose Challenge to Leap Wireless’ Low-Cost Service

A startup flat-rate wireless provider out of Texas may have San Diego’s Leap Wireless (NASDAQ:[[ticker:LEAP]]) in its sites. Pocket Communications, a no-frills wireless service provider in San Antonio, announced today it has raised $100 million in venture funding to establish a broad footprint for its unlimited wireless service in the Northeast. Xconomy’s Wade Roush provides … Continue reading “Pocket Communications May Pose Challenge to Leap Wireless’ Low-Cost Service”

Human Tissue Startup ‘Putting the Band Together Again’

San Diego’s Advanced Tissue Sciences tried for 14 years to develop living-tissue patches for healing burns, wounds and chronic sores. But the business went into bankruptcy liquidation in late 2002, a victim of regulatory delays and more than $300 million in debt. Since then, former CEO Gail Naughton says she’s been invited to speak many times … Continue reading “Human Tissue Startup ‘Putting the Band Together Again’”

Kratos Adds Another Defense Company in Growth-by-Acquistion Strategy

Eric DeMarco, the CEO of San Diego’s Kratos Defense & Security Solutions, (NASDAQ:[[ticker:KTOS]]) is showing he learned the lessons of rapid growth during his years at former San Diego defense contractor Titan Corp. Today Kratos announced it’s merging its Kratos Government Solutions division with Digital Fusion, a small defense contractor in Huntsville, AL, that trades over … Continue reading “Kratos Adds Another Defense Company in Growth-by-Acquistion Strategy”

To Save Cash, Vical Cuts 29 Jobs and Closes Facility

San Diego vaccine developer Vical (NASDAQ: [[ticker:VICL]] has joined the roster of small biotechs that have been forced to cut costs to conserve cash. The microcap biotech says it’s laying off 29 employees, or about 20 percent of its workforce, and closing an unidentified research facility sooner than planned. The company says it expects to … Continue reading “To Save Cash, Vical Cuts 29 Jobs and Closes Facility”

The Bourne Innovation: UC Researchers Launch a YouTube for Scientists

As an editor at a growing online resource called the Public Library of Science, UC San Diego Professor Philip Bourne is in an ideal position to see the disruptive changes that are remaking the $11 billion scientific publishing industry. As it has with other types of traditional publishing, the Internet is turning the staid-but-highly lucrative … Continue reading “The Bourne Innovation: UC Researchers Launch a YouTube for Scientists”

San Diego Snags Annual Conference on All Things Medical and Healthcare-Related

San Diego, which ranks among the premier regions in the country for innovations in the life sciences, has landed a conference to match. After a five-year hiatus, TEDMED is making a comeback, and the exclusive three-day conference on big ideas in healthcare and medicine, may be settling here permanently. The revived TEDMED conference will be held at The … Continue reading “San Diego Snags Annual Conference on All Things Medical and Healthcare-Related”

What Would the British Tabloids Say? Qualcomm Unveils Deal With Victoria’s Secret

Did San Diego’s Qualcomm score a huge coup for its MediaFlo mobile television service yesterday by arranging broadcast rights to the 2008 Victoria’s Secret Fashion Show on Dec. 3? That was the take at GigaOm, which reported all MediaFlo subscribers will be able to watch the broadcast on their portable wireless devices when it is … Continue reading “What Would the British Tabloids Say? Qualcomm Unveils Deal With Victoria’s Secret”

Arkeia Software Names Bill Evans CEO

San Diego’s Arkeia Software, a data protection software developer, has named two executives, including former Gateway executive Bill Evans as CEO. Evans was previously CEO of Parascale, a cloud storage startup and senior vice president of Gateway’s international business unit. The company also named Frederic Renard as vice president of marketing.

A Forum on Failure Stirs One-Liners and Personal Anguish Among CEOs

It was billed as “an evening of candor and compassion,” but with onetime M*A*S*H screenwriter Neil Senturia serving as impresario, a San Diego forum on business failure became an extended tragic-comic riff, abounding with one-liners. Entrepreneurs are rarely willing to publicly discuss their failures after they shut a company down, perhaps with the exception of … Continue reading “A Forum on Failure Stirs One-Liners and Personal Anguish Among CEOs”

Wireless Industry’s CDMA True Believers Chart CDMA’s Future for CDMA crowd

The phrase “preaching to the choir” came to mind as I listened to the speakers today at the 3G CDMA North America Regional Conference, which is being held this year in downtown San Diego at the U.S. Grant Hotel. Seated in the audience around me were representatives of wireless carriers, equipment makers and device venders … Continue reading “Wireless Industry’s CDMA True Believers Chart CDMA’s Future for CDMA crowd”

Carlsbad’s Aptera to Compete for $10 Million Automotive X Prize

Twenty-two teams of aspiring automakers, including Carlsbad-based Aptera, have registered so far to compete for $10 million in prizes offered as part of a “Great Race” to develop super fuel-efficient vehicles, the Progressive Automotive X Prize said today. Aptera, which began development of a futuristic-looking three-wheel passenger car five years ago, is among the teams … Continue reading “Carlsbad’s Aptera to Compete for $10 Million Automotive X Prize”

Trade Group Looks for a Pause, Not a Downturn, in Digital Wireless Sector

As the CDG North America Regional Conference convenes in San Diego today, Perry LaForge, the trade association’s chief executive, says he has a lot to feel good about. LaForge says he started working on behalf of CDMA, or code-division multiple access, after getting a preview of the wireless technology in 1988, when San Diego’s Qualcomm … Continue reading “Trade Group Looks for a Pause, Not a Downturn, in Digital Wireless Sector”

American Internet Services Acquires Complex Drive

San Diego’s largest data center, American Internet Services (AIS), said it has acquired Complex Drive, a well-established San Diego data center provider. No financial terms were disclosed. Seaport Capital, a New York private equity firm, said last month it had acquired 14-year-old AIS with investment partners Viridian Investment Partners and DuPont Capital Management. San Diego-based … Continue reading “American Internet Services Acquires Complex Drive”

DivX Shares Fall After Warning Over Split in Ad Deal With Yahoo

Shares of San Diego digital video provider DivX (NASDAQ: [[ticker:DIVX]]) fell more than 17 percent in early trading, hitting $4.53 a share shortly before noon ET, after DivX said its financial results would be hurt following Yahoo’s decision to breach a two-year advertising deal. In a regulatory filing last night, DivX said it had filed a lawsuit … Continue reading “DivX Shares Fall After Warning Over Split in Ad Deal With Yahoo”

Royalty Share Expands With Web Services for Music Industry

Life seemed so much simpler in 1914, when Tin Pan Alley’s songwriters and music publishers founded the American Society of Composers, Authors and Publishers, to protect its members’ musical copyrights. Today, the music organization still collects licensing fees from users of music created by its members, and distributes money back to them as royalties. Of … Continue reading “Royalty Share Expands With Web Services for Music Industry”

Solera Holdings Plans $90M Secondary Offering

San Diego’s Solera Holdings (NYSE: [[ticker:SLH]]) plans to issue 4.5 million shares of its common stock in an underwritten public offering at a price of $20 a share. The company, which is a leading provider of software used to process automobile insurance claims, announced the deal Friday and expects it to close by Wednesday, Nov. … Continue reading “Solera Holdings Plans $90M Secondary Offering”

Pacira Pharmaceuticals Receives $10 Million in Venture Funding

[Corrected 2/26/09. See below for details.] New Jersey-based Pacira Pharmaceuticals, which operates its research and manufacturing center in San Diego, has received a $10 million final installment of a venture financing round, the total value of which was not disclosed. Backers of the company, which makes controlled-release injectable products, include MPM Capital, HBM BioVentures, OrbiMed Advisors, … Continue reading “Pacira Pharmaceuticals Receives $10 Million in Venture Funding”

Cymer Lays Off 8 Percent of its Global Workforce

San Diego’s Cymer (CYMI), widely viewed as a bellwether for the chipmaking industry, says it will reduce its worldwide workforce by 85 employees, or about 8 percent. Cymer makes sophisticated ultraviolet lasers that serve as the light source in a photolithographic process used by nearly every semiconductor manufacturer to make advanced microcircuits. The company’s technology … Continue reading “Cymer Lays Off 8 Percent of its Global Workforce”

The Security Network: Helping Small Defense Companies Innovate and Work Together

Michael Jones has an unusual perspective on the defense industry for a guy who oversees a non-profit industry group for San Diego’s defense and homeland security companies. While the defense industry abounds with examples of advanced technologies, “big defense companies are not doing innovation,” says Jones, chairman and CEO of The Security Network. “They’ll even … Continue reading “The Security Network: Helping Small Defense Companies Innovate and Work Together”

San Diego’s Moores Gives $2.1 Million to Scripps Research Institute

Software tycoon and San Diego Padres owner John Moores has contributed $2.1 million to kick off a $50 million fund-raising initiative for The Scripps Research Institute. The San Diego facility says the campaign is intended to expand current research programs and recruit elite scientists to the institute’s laboratories in San Diego and Jupiter, FL. Moores, who co-founded … Continue reading “San Diego’s Moores Gives $2.1 Million to Scripps Research Institute”

Oil Wildcatter Comes Clean on Green Technology Investments

Jay Potter has been in the financial services business for more than 20 years, mostly as the president and principal of Nexcore Capital, a San Diego securities dealer and investment banking firm. For much of that time, though, Potter was a wildcatter. He’d raise capital from investors on behalf of companies like Sterling Energy Resources … Continue reading “Oil Wildcatter Comes Clean on Green Technology Investments”

Metabasis Closes Satellite Office in Michigan and Lays Off 35 People

In a move to preserve cash and reduce expenses, San Diego’s Metabasis (NASDAQ: MBRX) announced plans to close its facility in Ann Arbor, MI, and eliminate about 35 jobs there, almost a third of the company’s staff. After the cutbacks, the company will have about 90 employees. The biotech, which is developing novel small molecule drugs … Continue reading “Metabasis Closes Satellite Office in Michigan and Lays Off 35 People”

Ardea Biosciences Secures Venture Loan

Ardea Biosciences (Nasdaq:RDEA) says it has entered into an $8 million growth capital loan agreement with Oxford Finance Corp. and Silicon Valley Bank. Ardea President and CEO Barry Quart says the loan, which includes warrants entitling the lenders to buy 56,000 shares to 2015, provides greater flexibility in “ongoing partnering discussions” and allows the drug development company to fund operations into … Continue reading “Ardea Biosciences Secures Venture Loan”

Cardium Completes Debt Financing Transaction

Cardium Therapeutics (Amex: CXM) says it raised $6 million in debt financing that includes warrants to purchase shares of its common stock. Cardium says the Barone Group acted as lead investor in the deal, which replaces a prior debt financing that was paid off in the previous quarter. Empire Asset Management acted as financial advisor … Continue reading “Cardium Completes Debt Financing Transaction”

Sapphire Energy, Backed by Bill Gates, Tries to Tone Down the Hype as it Makes Gasoline From Algae

Sapphire Energy has not provided many details about its technology since CEO Jason Pyle stepped into the limelight six months ago to announce the San Diego startup has developed a revolutionary process for turning pond scum into high-octane gasoline. “I have no intention of being secretive,” Pyle told me at the inaugural networking meeting of … Continue reading “Sapphire Energy, Backed by Bill Gates, Tries to Tone Down the Hype as it Makes Gasoline From Algae”

The Active Network Actively Expanding

The first thing that popped into my brain when San Diego’s Active Network said it has acquired three more companies was kudzu—also known as “mile-a-minute vine” and “the vine that ate the South.” Just a year and a half ago, the online business officially known as The Active Network had 730 employees, including 265 at … Continue reading “The Active Network Actively Expanding”