Category: San Diego

ASH 2018: Three Up, Two Down as Big Blood Disease Meeting Rolls On

[Updated 4:37 p.m. See below.] Last week, Xconomy previewed the American Society of Hematology’s big meeting in San Diego, the largest medical gathering in the country on blood diseases. We took a deep dive into five specific disease areas under scrutiny, from lymphoma to hemophilia to sickle cell disease and more. News related to those … Continue reading “ASH 2018: Three Up, Two Down as Big Blood Disease Meeting Rolls On”

ResMed Boosts Connected Health Play With $225M Propeller Health Deal

[Updated 12/3/18, 3:30 pm, with CEO comments.] ResMed has inked a $225 million deal to acquire Propeller Health, in the latest endorsement of Internet-connected devices for healthcare. The acquisition, which is expected to close by the end of March 2019, continues San Diego-based ResMed’s (NYSE: [[ticker:RMD]]) “connected healthcare” push that began about five years ago, … Continue reading “ResMed Boosts Connected Health Play With $225M Propeller Health Deal”

Volvo Expands In Silicon Valley As Auto Innovation Goes West

As GM announced a wave of auto plant closures in the North American heartland this week at the cost of thousands of jobs, Sweden’s Volvo Cars was expanding its U.S. presence, both in Silicon Valley and at a new South Carolina factory. Like Detroit-based GM (NYSE: [[ticker:GM]]), which is shifting its attention from traditional auto manufacturing … Continue reading “Volvo Expands In Silicon Valley As Auto Innovation Goes West”

Bio Roundup: CRISPR Babies, Blood Diseases, Big Cancer Nod & More

This was one of those weeks when the world seemed to slip into a new era with no going back. A Chinese researcher, He Jiankui, claimed he helped bring to life two genetically engineered babies, twin girls with a gene disabled to make them immune to HIV infection. Even though the technology He used—in vitro … Continue reading “Bio Roundup: CRISPR Babies, Blood Diseases, Big Cancer Nod & More”

As Hedge Fund Presses Takeover Bid, Mitek CFO Rescinds Resignation

Elliott Management, a New York-based activist hedge fund, has had San Diego-based Mitek Systems in its crosshairs for months. In October, Elliott subsidiary ASG Technologies Group publicly “reaffirmed” an offer to buy Mitek (NASDAQ: [[ticker:MITK]]) at $10 per share—an unsolicited proposal that it said Mitek had previously rebuffed, claiming it undervalued the company. At the … Continue reading “As Hedge Fund Presses Takeover Bid, Mitek CFO Rescinds Resignation”

Connect Honors 7 New Products as ‘Most Innovative’ at Annual Awards

San Diego’s Connect, which runs a tech and life science startup accelerator, recognized seven local companies Thursday night at its 31st annual Most Innovative New Product Awards (MIP) gala. Winners were picked from the 23 finalists that advanced through an earlier round of selections in the spring. The seven companies that won were chosen by … Continue reading “Connect Honors 7 New Products as ‘Most Innovative’ at Annual Awards”

ViaCyte Raises $80M to Prep for the Clinic Now, Perhaps an IPO Later

ViaCyte is recruiting patients for clinical trials testing its experimental stem cell-based diabetes treatment. Now it has $80 million to support that work, and also prepare for something more: a possible IPO. The financing, a Series D round of investment, includes so-called crossover investors that back both public and private companies. CEO Paul Laikind told … Continue reading “ViaCyte Raises $80M to Prep for the Clinic Now, Perhaps an IPO Later”

Under Fire, He Jiankui Says He’s “Proud” to Help Make CRISPR’d Babies

[Updated, 11/28/18, 12:20pm ET. See below.] Is there another CRISPR baby on the way? In his first public appearance since his stunning claim, released on YouTube Sunday, that he helped bring the first genome-edited humans into the world, He Jiankui, a genomics researcher at Southern University of Science and Technology of China in Shenzhen, said … Continue reading “Under Fire, He Jiankui Says He’s “Proud” to Help Make CRISPR’d Babies”

Roche Gains Place in NASH Race with Purchase of Jecure Therapeutics

Roche is acquiring San Diego startup Jecure Therapeutics, with hopes of turning Jecure’s early research into a drug or drugs that treat the liver disease NASH. Through its South San Francisco, CA-based Genentech division, the Swiss pharmaceutical giant will acquire Jecure, whose work has yet to reach clinical studies, the companies announced Tuesday. No financial … Continue reading “Roche Gains Place in NASH Race with Purchase of Jecure Therapeutics”

Organovo Says Chief Scientific Officer Sharon Presnell Will Resign

Organovo’s chief scientific officer, Sharon Presnell, will resign next week, according to a regulatory document the company filed Tuesday. Presnell is also president of Organovo subsidiary Samsara Sciences. Organovo (NASDAQ: [[ticker:ONVO]]) is using what it calls 3D bio-printing technology to make living human liver tissue “patches”; Samsara sells human liver cells for research applications. Presnell’s resignation … Continue reading “Organovo Says Chief Scientific Officer Sharon Presnell Will Resign”

To Show Off SD Startups, Investors Hit the Road with New TV Show

First there was “Comedians in Cars Getting Coffee.” Now four San Diego, CA-based investors are debuting “VCs in a Van,” a vehicle (no pun intended) meant to spotlight local companies ripe for funding. The show tracks the financiers—Neil Senturia, Tom Tullie, Mark Bowles, and Taner Halicioğlu—as they visit a handful of San Diego-based early-stage businesses … Continue reading “To Show Off SD Startups, Investors Hit the Road with New TV Show”

Genetic Medicine: FDA OKs 2nd Cancer Drug That Targets DNA, Not Tissues

[Updated 11/26/18. See below.] Going deeper into the new world of genetic medicine, the FDA has for the second time approved a drug that targets a tumor’s DNA fingerprint, no matter where in the body that cancer is found. And more could be on the way. The drug is larotrectinib (Vitrakvi), from Loxo Oncology (NASDAQ: … Continue reading “Genetic Medicine: FDA OKs 2nd Cancer Drug That Targets DNA, Not Tissues”

As It Aims to Go Public, Seismic Taps Former ServiceNow Exec as CFO

Seismic, one of San Diego’s most prominent enterprise software companies, has tapped a member of the team behind one of the region’s most successful tech startup stories to prep for its own prospective market debut. The software developed by Seismic, part of the relatively new sales enablement industry, helps marketing and sales teams manage, automate … Continue reading “As It Aims to Go Public, Seismic Taps Former ServiceNow Exec as CFO”

Necessity Vs. Innovation-Based Entrepreneurs

What makes someone an entrepreneur? Most simply defined, an entrepreneur is a person who identifies a need and starts a business to fill that void. But others will argue that a “true” entrepreneur must come up with an innovative new product or service and then operates their business to sell and profit from that innovation. … Continue reading “Necessity Vs. Innovation-Based Entrepreneurs”

ASH 2018: A Guide to the Latest for Blood-Borne Cancers and More

[Note: Ben Fidler co-authored this report.] This weekend, San Diego will host the annual American Society of Hematology conference, the largest U.S. medical gathering to get the latest on blood diseases, and a venue for updates on some of the most cutting-edge biotechnologies that only a few years ago seemed like science fiction. Using the … Continue reading “ASH 2018: A Guide to the Latest for Blood-Borne Cancers and More”

Immigrants Are Key to Winning the AI Arms Race

If we want to create jobs and economic opportunity here in the U.S., we’re going to need immigrants. Not only have they pioneered our country’s greatest achievements, bringing you everything from hot dogs to YouTube, but today they serve at the cutting edge of our foremost industries. Nowhere is this more true than in the … Continue reading “Immigrants Are Key to Winning the AI Arms Race”

Cybersecurity Startup AttackIQ Hires New, Bay Area-Based CEO

Cybersecurity startup AttackIQ has appointed veteran tech executive Brett Galloway as its new CEO. AttackIQ said Galloway is taking over the role from Carl Wright, who has been named chief commercial officer. Wright was hired as chief revenue officer in August 2017. The company said he was named interim CEO in September of this year. … Continue reading “Cybersecurity Startup AttackIQ Hires New, Bay Area-Based CEO”

Silvergate Bank Files for IPO to Grow Cryptocurrency Services

Silvergate Bank has transformed itself in recent years from a typical business bank to one of the financial institutions of choice for digital currency companies. Now the cryptocurrency-friendly bank, which is headquartered in La Jolla, CA, is preparing to go public. On Tuesday it set a $50 million price target, according to documents filed with … Continue reading “Silvergate Bank Files for IPO to Grow Cryptocurrency Services”

How Blockchain Is Finding a Place at Your Thanksgiving Table

The food we buy in grocery stores and restaurants has a story to tell about where it came from and each step it took on its journey to your dinner table. Blockchain technology can help tell that tale. The story many food companies want to tell these days is about safety. Earlier this year, an … Continue reading “How Blockchain Is Finding a Place at Your Thanksgiving Table”

Uber Expands Its E-Bike Service, Jump, to 2 More West Coast Cities

Hundreds of red, “dockless” electronic bikes appeared on the streets of San Diego and Seattle on Monday, the latest cities in which Uber introduced its e-bike program, Jump. The expansion comes days after Uber began rolling out the bike-sharing service across Los Angeles. The San Francisco-based ride-hailing giant acquired Jump Bikes, a Brooklyn e-bike sharing … Continue reading “Uber Expands Its E-Bike Service, Jump, to 2 More West Coast Cities”

Agbio Startup Cibus Files for an IPO to Support Gene-Editing R&D

Cibus, which has developed a proprietary gene-editing technology that tweaks crops’ DNA to improve yield, is planning to make its public market debut. The San Diego-based biotech set a preliminary $100 million target for its IPO in documents filed with securities regulators Friday. That figure will change as the company determines how many shares it … Continue reading “Agbio Startup Cibus Files for an IPO to Support Gene-Editing R&D”

Plant-Based Burger Maker Beyond Meat Cooks Up Plans for an IPO

We’ll soon find out if Wall Street has the appetite for investing in alternative meat technology. Beyond Meat, a maker of plant-based meat products, has filed for an IPO. The El Segundo, CA-based company set a preliminary target of $100 million for the stock offering, a figure that will likely change as the company moves … Continue reading “Plant-Based Burger Maker Beyond Meat Cooks Up Plans for an IPO”

X·CON 2018: Photos From Three Innovation Days in November

On November 4-6, Xconomy organized a meeting of the minds—an elite gathering of leaders in technology, business, healthcare, education, and energy—to discuss and demonstrate the key trends in their fields, heading into next year. Our expert speakers and attendees at X·CON 2018 tackled everything from the impact of artificial intelligence on enterprises to the emerging … Continue reading “X·CON 2018: Photos From Three Innovation Days in November”

Human Space Travel as a Platform to Accelerate Biomedical Innovation

A manned mission to Mars is slated for as early as 2024, but there are serious health risks that must be mitigated in order for such a mission to be successful. The most pressing risk identified by NASA is radiation exposure. Instead of stunting our spirit of exploration, there is an urgent need to develop effective radioprotection strategies to … Continue reading “Human Space Travel as a Platform to Accelerate Biomedical Innovation”

Wonolo Scores $32M to Expand Blue-Collar Gig Workers’ Marketplace

Wonolo, which runs a marketplace where companies can find fill-in staffers for jobs like stocking store shelves and warehouse chores, announced Monday that it raised $32 million in a Series C funding round led by Bain Capital Ventures. Bain Capital also invested this year in another tech startup focused on blue collar workers: UpKeep, which … Continue reading “Wonolo Scores $32M to Expand Blue-Collar Gig Workers’ Marketplace”

Connect Taps Tega Therapeutics CEO, Springboard Grad as Chairman

Connect, the longstanding nonprofit organization that runs one of San Diego’s best-known startup accelerator programs, said Thursday that Tega Therapeutics CEO Tim Scott will become chairman of its board of directors on Dec. 1. Scott has a long history with the organization. As part of the founding group that, in 1999, launched San Diego-based Internet … Continue reading “Connect Taps Tega Therapeutics CEO, Springboard Grad as Chairman”

Tocagen Appoints Lori Kunkel as Acting Chief Medical Officer

Tocagen (NASDAQ: [[ticker:TOCA]]), which is developing a gene therapy for brain cancer, said Thursday it has appointed board member Lori Kunkel as its acting chief medical officer effective Nov. 26. The San Diego-based company said its current CMO and senior vice president, Asha Das, is leaving as of Nov. 23 to “focus on unforeseen and immediate … Continue reading “Tocagen Appoints Lori Kunkel as Acting Chief Medical Officer”

Bio Roundup: Moderna’s IPO, Arena’s Comeback, E-Cig Survey & More

Thanksgiving is around the corner and this week delivered a bounty of deals that have a number of life science companies expressing their thanks a little early. One deal saw a company land a whopping $800 million upfront for a rights to a drug still in clinical testing. Another biotech landed a $98 million investment … Continue reading “Bio Roundup: Moderna’s IPO, Arena’s Comeback, E-Cig Survey & More”

Airspace Technologies Brings In $20M to Scale Its Logistics Business

[Updated 5:20 p.m. See below.] Having to wait for a package to arrive generally doesn’t result in severe consequences, besides perhaps a feeling of frustration. Some deliveries, however, are only useful if they arrive on time. Logistics startup Airspace Technologies says its software, developed specifically for time-sensitive shipments—donated organs slated for transplant and replacement parts … Continue reading “Airspace Technologies Brings In $20M to Scale Its Logistics Business”

Arena’s Comeback Continues with $800M Deal for Lung Disease Drug

[Updated, 11/15/18, 2:06 p.m. ET. See below.] Arena Pharmaceuticals continued its comeback Thursday, netting a whopping $800 million up front in a deal that hands United Therapeutics another experimental drug for the rare disorder pulmonary arterial hypertension (PAH). The deal gives United Therapeutics (NASDAQ: [[ticker:UTHR]]) worldwide rights to Arena’s (NASDAQ: [[ticker:ARNA]]) experimental drug ralinepag, which … Continue reading “Arena’s Comeback Continues with $800M Deal for Lung Disease Drug”

Nebula Genomics Touts Free DNA Sequencing to Coax Health Data Sharing

A growing number of startups are trying to encourage people to share genomic and other health data for research purposes by offering them some form of compensation. Now, as competition in this young sector ramps up, one of the big questions is what type of incentive will attract the most individuals. The latest experiment comes … Continue reading “Nebula Genomics Touts Free DNA Sequencing to Coax Health Data Sharing”

Synthorx Files for IPO to Advance Enhanced Cytokine Drugs

Synthetic biology company Synthorx is laying plans for an initial public offering to raise money to advance its suite of enhanced cytokine drugs. The San Diego-based company says it wants to use the proceeds to put its lead product candidate, an investigational cancer therapy that’s based on the drug interleukin-2 (IL-2), through dose escalation and … Continue reading “Synthorx Files for IPO to Advance Enhanced Cytokine Drugs”

Expansion Therapeutics Hires Elliot Enrich as CMO

Expansion Therapeutics has hired Elliot Ehrich as its chief medical officer. Ehrich was most recently CMO and executive vice president of research and development at Alkermes (NASDAQ: [[ticker:ALKS]]). He is also a venture partner at 5am Ventures, which incubated Expansion and co-led its $55.3 million Series A financing with Kleiner Perkins, Novartis Venture Fund, and … Continue reading “Expansion Therapeutics Hires Elliot Enrich as CMO”

GreatCall Expands Lyft Partnership to Pick Up Seniors Nationwide

GreatCall, the maker of the Jitterbug cellphone and other products and services for older adults, has extended its partnership with the San Francisco-based ride-hailing company Lyft to offer GreatCall customers the ability to schedule rides without a smartphone app. No financial terms were disclosed. The San Diego-based healthtech company said Tuesday it is rolling out … Continue reading “GreatCall Expands Lyft Partnership to Pick Up Seniors Nationwide”

CEOs and Scientific Founders: Tips for a Long and Successful Marriage

It seemed like the perfect match: A scientist founder from a top-tier academic institution; A technological innovation based on years and millions of dollars of federally-funded research in a university lab; And a successful entrepreneur and industry veteran named as the CEO of the startup that would take the work forward. But soon after the … Continue reading “CEOs and Scientific Founders: Tips for a Long and Successful Marriage”

Ribometrix Takes Aim at “Undruggable” RNA with $30M Series A Funding

Most drugs target proteins in the cell, but the world of RNA has remained largely untapped by companies making chemical-based, or small-molecule drugs. That’s changing though—just in the last couple of years, there’s been a mini-boom in biotechs trying to overturn the long-held dogma that messenger RNA molecules (which carry the genetic instructions for proteins … Continue reading “Ribometrix Takes Aim at “Undruggable” RNA with $30M Series A Funding”

Universal Robots Hires Former Rethink Robotics Workers After Closure

A little more than a month after Rethink Robotics shut down, a competitor has hired more than 20 of the Boston-based firm’s former employees. Universal Robots, a Denmark-based maker of collaborative industrial robots, announced Tuesday it has brought on key Rethink personnel, primarily in engineering and product development. The hires include former Rethink chief operating … Continue reading “Universal Robots Hires Former Rethink Robotics Workers After Closure”

Nuance Goes All-in on Speech Tech, Sells Document Business to Kofax

Nuance Communications is selling its document imaging division to Kofax for $400 million in cash, as Nuance’s new CEO narrows the company’s focus on its conversational artificial intelligence products and cloud-related technologies. Nuance’s (NASDAQ: [[ticker:NUAN]]) document imaging business provides enterprise software tools for securely capturing data from print or electronic documents, printing documents, and uploading … Continue reading “Nuance Goes All-in on Speech Tech, Sells Document Business to Kofax”

Salk Team Awarded 8-Year, $19.2M Grant for Alzheimer’s Research

A 10-person team of researchers at the Salk Institute for Biological Studies has been awarded an eight-year, $19.2 million grant to investigate mechanisms underlying Alzheimer’s disease and aging-related cognitive decline and uncover new therapies. The grant, announced Friday by the research institute in San Diego’s La Jolla community, is part of a $43 million initiative … Continue reading “Salk Team Awarded 8-Year, $19.2M Grant for Alzheimer’s Research”

Bio Roundup: Midterm Fallout, Alzheimer’s Search, Postpartum Panel

There was plenty at stake in this week’s midterm elections, and not just in terms of political wins and losses. With congress now divided—Democrats took back control of the House and Republicans extended their majority in the Senate—the implications are significant for U.S. healthcare. Just a day after the results, for instance, Senate Majority Leader … Continue reading “Bio Roundup: Midterm Fallout, Alzheimer’s Search, Postpartum Panel”

Nominations Open for San Diego’s Inaugural Xconomy Awards

Hundreds of companies. Dozens of research institutes. Billions of dollars in economic impact. San Diego is one of the top U.S. cities for innovation in life sciences and healthtech. Researchers and entrepreneurs here are leaders in developing the next generation of medicines and medical devices. In doing so, they are revealing new insights from our … Continue reading “Nominations Open for San Diego’s Inaugural Xconomy Awards”

Hold Your Horsepower: For Mobility Industry, “Reality Is Sinking In”

Earlier this month, GM CEO Mary Barra told the crowd at a financial conference that her company was on track to unveil a ridesharing service in 2019 that would be powered by autonomous vehicles. It sounded like pretty big news, but to understand company announcements about the commercial viability of driverless cars, one must first … Continue reading “Hold Your Horsepower: For Mobility Industry, “Reality Is Sinking In””

Mirum Pharmaceuticals Launches with $120M to Advance Liver Drugs

Serial entrepreneur Mike Grey is launching a biotech enterprise with $120 million in new funding to advance two investigational liver disease drugs—one of which he has worked to develop before. Called Mirum Pharmaceuticals, the startup is developing a compound, maralixibat, to treat Alagille syndrome (ALGS) and progressive familial intrahepatic cholestasis (PFIC), genetic liver disorders that … Continue reading “Mirum Pharmaceuticals Launches with $120M to Advance Liver Drugs”

Mitek Systems Appoints New CEO After Rejecting $380M Takeover Bid

Mitek Systems has appointed a new chief executive, the day after rejecting an $380 million takeover bid from Florida-based ASG Technologies. A letter ASG sent to Mitek’s board of directors last week proposing ASG acquire the San Diego-based company asserted Mitek was facing “significant operational uncertainty and risk” following news of the imminent departure of … Continue reading “Mitek Systems Appoints New CEO After Rejecting $380M Takeover Bid”

Mitek Systems Rejects ASG’s $380M Takeover Bid

Mitek Systems, which is being targeted for takeover by a subsidiary of Elliott, billionaire Paul Singer’s activist hedge fund, has unanimously rejected its $380 million offer. The Oct. 31 offer—rejected Monday—was made by ASG Technologies Group, a Florida-based software company that last year sold a controlling stake to Evergreen Coast Capital, Elliott’s Menlo Park, CA, … Continue reading “Mitek Systems Rejects ASG’s $380M Takeover Bid”

ResMed to Add to Software Offerings with $750M MatrixCare Acquisition

Medical device maker ResMed has agreed to acquire Minnesota-based MatrixCare, which makes software for long-term care providers, for $750 million. San Diego’s ResMed (NYSE: [[ticker:RMD]]) announced its intention to buy the privately held tech company on Monday. The purchase price is 25 times MatrixCare’s pro forma 2018 earnings of about $30 million (without taking into … Continue reading “ResMed to Add to Software Offerings with $750M MatrixCare Acquisition”

Esperanto Reaps $58M to Speed Development of Its AI Chip

Esperanto Technologies, a startup AI chip developer that has operated mostly below the radar since its founding in 2014, announced this week that it raised $58 million in a Series B fundraising round. Mountain View, CA-based Esperanto is vying with a host of competitors to create new processors for high-order tasks like machine learning and … Continue reading “Esperanto Reaps $58M to Speed Development of Its AI Chip”