Broadcom is selling application security testing business Veracode for $950 million to private equity firm Thoma Bravo. Broadcom gained Veracode as a part of its blockbuster acquisition of CA Technologies. Broadcom (NASDAQ: [[ticker:AVGO]]) announced in June it would acquire CA Technologies (NASDAQ: [[ticker:CA]]) for $18.9 billion, and announced today it has completed that deal. New … Continue reading “Broadcom to Sell Veracode for $950M After $19B CA Technologies Deal”
Category: San Diego
MEI Pharma Inks Cancer Drug Deal with Japan’s Kyowa Hakko Kirin
The second-most advanced investigational drug in MEI Pharma’s four-asset portfolio is drawing attention from overseas as a potential treatment for several leukemias and lymphomas. Japanese life sciences company Kyowa Hakko Kirin has agreed to pay the San Diego company $10 million upfront for rights to develop and commercialize ME-401 in Japan. The Japanese company will … Continue reading “MEI Pharma Inks Cancer Drug Deal with Japan’s Kyowa Hakko Kirin”
Cloudbeds, a Hospitality Software Firm, Debuts New San Diego Office
Software startup Cloudbeds recently relocated its 20-odd local employees from a small space in downtown San Diego to an office nearly three times the size in the same neighborhood. The company unveiled the new digs Thursday, about a month after moving in, with a ceremonial ribbon cutting. The office in San Diego’s Bankers Hill area … Continue reading “Cloudbeds, a Hospitality Software Firm, Debuts New San Diego Office”
Bio Roundup: Depression Drug Dashed, Peek at ASH, CRISPR Worry & More
The gene-editing technology CRISPR-Cas9 is opening up new research avenues all the time, such as giving drug developers a cheaper, faster way to knock out genes in tumor cells. Studies of CRISPR-Cas9 to treat human disease are about to start, too. But will our immune systems, already on alert for common infections by the bacteria … Continue reading “Bio Roundup: Depression Drug Dashed, Peek at ASH, CRISPR Worry & More”
Illumina Set to Acquire “Long-Read” DNA Sequencer PacBio for $1.2B
[Updated, 11/2/18, 11:09 a.m. ET. See below.] DNA sequencing giant Illumina is shoring up its position in genetic research through a cash deal to acquire Pacific Biosciences for approximately $1.2 billion. Under the agreement, Illumina (NASDAQ: [[ticker:ILMN]]) will pay $8 per Pacific Biosciences (NASDAQ: [[ticker:PACB]]) share, a 79 percent premium to the Wednesday closing stock … Continue reading “Illumina Set to Acquire “Long-Read” DNA Sequencer PacBio for $1.2B”
Cloud Leaders Shrug at IBM’s $34B Red Hat Deal
In some ways, the biggest software acquisition of all time could be a yawner. IBM’s planned $34 billion deal to acquire open-source software maker Red Hat is a hefty price to pay to give its cloud computing business a shot in the arm. But even if the purchase ultimately boosts IBM’s bottom line, some cloud … Continue reading “Cloud Leaders Shrug at IBM’s $34B Red Hat Deal”
IRobot’s Roombas to Map Households for Google Smart Homes
Autonomous vehicle developers rely heavily on navigational technology that maps the complex terrain of roads, curbs, signs, and people that their cars have to thread through. Google, as it develops its smart home systems, is turning to a company that already knows how to navigate the terrain of a household—corridors, kitchens, cat beds, cast-off shoes, … Continue reading “IRobot’s Roombas to Map Households for Google Smart Homes”
Facebook’s 3Q Growth Suffices to Stave Off Another Stock Dive
Facebook (NASDAQ: [[ticker:FB]]) shares gained nearly 3 percent Tuesday, and ticked up further in after-hours trading following the release of a third quarter earnings report that showed some strengths as well as shortfalls. Investors have been concerned about the social media giant’s slowing growth rate in a year when it has been under scrutiny for … Continue reading “Facebook’s 3Q Growth Suffices to Stave Off Another Stock Dive”
CFO Todd Young Leaving Acadia Pharmaceuticals
Acadia Pharmaceuticals on Monday announced the imminent department of Todd Young, its executive vice president and chief financial officer, after roughly two years with the biopharma company. Young’s last day is Wednesday, said Acadia (NASDAQ: [[ticker:ACAD]]), a San Diego-based company that is developing and commercializing treatments for neurological disorders. Its drug pimavanserin (Nuplazid) was the … Continue reading “CFO Todd Young Leaving Acadia Pharmaceuticals”
Fundraising Startup Classy Surpasses $1B Raised on Its Platform
It took six years for Classy, a software-as-a-service company that targets nonprofit organizations looking to fundraise online, to facilitate $500 million in donations. But the next $500 million took just 14 months. The San Diego-based startup announced the $1 billion milestone on Tuesday, citing the addition to its platform of ever-larger nonprofits—including the Salvation Army—as … Continue reading “Fundraising Startup Classy Surpasses $1B Raised on Its Platform”
Stantt CEO Thinks Its Approach to Selling Men’s Wear Fits Just Right
Stantt wants to make standard sizing anything but. “Traditional sizing only fits 15 percent of guys,” says Matt Hornbuckle, the startup’s founder and co-CEO. “Twins come in and get different sizes.” To connect guys with a shirt that fits well, the men’s wear startup created a database of “tens of thousands” of body scans. That … Continue reading “Stantt CEO Thinks Its Approach to Selling Men’s Wear Fits Just Right”
No Pipeline Problem: Backstage Capital’s Detroit Plans Spark Excitement
In September, Backstage Capital, a venture investment firm seeding early-stage startups led by women, people of color, and members of the LGBTQ community, launched a $36 million fund to help support black women founders. At the same time, managing partner Arlan Hamilton said the Los Angeles-based firm would run accelerators in four cities: London, Philadelphia, … Continue reading “No Pipeline Problem: Backstage Capital’s Detroit Plans Spark Excitement”
Cuida Health Launches Voice-Based ‘Social Wellness’ App for Seniors
Lisa doesn’t interrupt. She doesn’t mind long pauses between responses. And she has a sense of humor. Oh – and, she’s virtual. San Diego startup Cuida Health, a recent graduate of the Connect Springboard accelerator program, this week launched its first product: a voice-activated “social wellness” app for seniors. For the past four months, about … Continue reading “Cuida Health Launches Voice-Based ‘Social Wellness’ App for Seniors”
Pineapples and Bananas: Yummy to Eat, And Now Fashionable to Wear
Style trends may come and go but the apparel industry is increasingly accepting that sustainability will always be in fashion. “We have the chance to shift the environment to a cleaner, more non-toxic place,” says Greg Altman, co-founder and CEO of Silk, a Boston-area maker of a proprietary liquid silk. “That’s really our goal.” To … Continue reading “Pineapples and Bananas: Yummy to Eat, And Now Fashionable to Wear”
U.K. Slaps Maximum Fine of $645,000 on Facebook for Privacy Violations
The U.K.’s data privacy regulator fined Facebook $645,000 for violations that allowed political marketing firm Cambridge Analytica and other outside companies to extract 87 million Facebook profiles worldwide without adequate user knowledge or consent. The purpose of the U.K.’s enforcement actions is to change the behavior of organizations that mishandle the sensitive private information of … Continue reading “U.K. Slaps Maximum Fine of $645,000 on Facebook for Privacy Violations”
Bio Roundup: Alzheimer’s Puzzle, ESMO Assessed, Drug Prices & More
In the biotech investment and research communities this week, much of the attention was turned to Europe. Munich, Germany, hosted the annual conference of the European Society for Medical Oncology, where cancer drug developers unveiled the latest clinical data for experimental immunotherapies and drugs that treat the disease based on a tumor’s genetic signature. Also … Continue reading “Bio Roundup: Alzheimer’s Puzzle, ESMO Assessed, Drug Prices & More”
Startup Developing Opioid Alternative Takes Top ‘Quick Pitch’ Honors
The winner of the largest-ever startup pitch contest in San Diego is aiming to solve a problem that is weighing heavily on the national consciousness. The same day President Trump signed a bipartisan package of measures to address the opioid epidemic, San Diego startup NeuraLace Medical won $50,000 on Wednesday at the annual John G. … Continue reading “Startup Developing Opioid Alternative Takes Top ‘Quick Pitch’ Honors”
Trump Plan Ties Medicare Drug Prices to Cheaper Foreign Ones
[Updated 5:41pm ET with analyst note, see below.] When the Trump administration announced its blueprint for lowering prescription drug prices in May, many observers said it was too soft on the biopharma industry and didn’t contain concrete initiatives that could truly cut costs. But with the U.S. midterm elections fast approaching and the high cost … Continue reading “Trump Plan Ties Medicare Drug Prices to Cheaper Foreign Ones”
Berkeley’s SkyDeck Offers Chip Design Support Worth Millions to Startups
The current land rush in chip development, spurred as new technologies such as artificial intelligence create new needs, is pitting established semiconductor companies like Intel and Nvidia against tech titans like Facebook that are building their own chips. A wave of next-generation chip companies has also entered the fray. So how much room remains for … Continue reading “Berkeley’s SkyDeck Offers Chip Design Support Worth Millions to Startups”
Amgen Slashes Cholesterol Drug Price 60% to Match Rival Regeneron
[Updated, 10/25/18, 12:15 a.m. See below.] Amgen is cutting the list price of its new cholesterol-lowering drug by nearly 60 percent, a move the company says is intended to make the product more affordable for more patients. The move is a shot across the bow of Regeneron Pharmaceuticals (NASDAQ: [[ticker:REGN]]]). The Tarrytown, NY firm recently … Continue reading “Amgen Slashes Cholesterol Drug Price 60% to Match Rival Regeneron”
NeoGenomics Buys Ex-Novartis Cancer Lab Genoptix for $125M, Stock
Cancer testing laboratory Genoptix is being acquired by NeoGenomics, another cancer-focused genetic testing business, for $125 million in cash and 1 million NeoGenomics shares. The buyout comes almost two years after Carlsbad, CA-based Genoptix was bought from Novartis (NYSE: [[ticker:NVS]]) by a pair of private investment firms, Ampersand Capital Partners and 1315 Capital, and a … Continue reading “NeoGenomics Buys Ex-Novartis Cancer Lab Genoptix for $125M, Stock”
Baubles & Bling: Swoonery Uses Tech to Connect Shoppers With Jewelry
Jean Poh’s family has been in the jewelry business for four generations. And, for the most part, the industry has operated much the same as it always has, she says. Following a professional detour in which she worked as an attorney and angel investor, Poh made her way back to the jewelry business. She began … Continue reading “Baubles & Bling: Swoonery Uses Tech to Connect Shoppers With Jewelry”
Mirati Shares Fall On New Data For Lung Cancer Drug Combo
[Corrected 1:38 pm. See below.] Shares of San Diego-based Mirati Therapeutics fell 15 percent Monday as data from an ongoing mid-stage study of one of its experimental cancer drugs disappointed investors. Mirati (NASDAQ: [[ticker:MRTX]]) is one of several biotech companies trying to get in on the mix-and-match cancer immunotherapy game. Drugmakers have been combining immunotherapies … Continue reading “Mirati Shares Fall On New Data For Lung Cancer Drug Combo”
ESMO ’18: Precision Meds, Breast, Lung, and More from the Cancer Front
[Ben Fidler co-authored this report.] The European Society for Medical Oncology is wrapping up its annual conference today, replete with clinical data from cancer’s front lines. We’ve sorted the headlines into a few big categories: immunotherapy combinations, breast cancer, lung cancer, the growing class of drugs called PARP inhibitors, and new drugs that treat tumors … Continue reading “ESMO ’18: Precision Meds, Breast, Lung, and More from the Cancer Front”
With $90M Round, Stoke Eyes a “Spinraza For Epilepsy” And a 2019 IPO
Ed Kaye stepped aside from Sarepta Therapeutics (NASDAQ: [[ticker:SRPT]]) last year after leading the company through one of the most noteworthy and controversial drug approvals in recent memory, for the Duchenne muscular dystrophy drug eteplirsen (Exondys 51). But his hiatus from a publicly traded biotech could be short-lived. Kaye’s new startup, Bedford, MA-based Stoke Therapeutics, … Continue reading “With $90M Round, Stoke Eyes a “Spinraza For Epilepsy” And a 2019 IPO”
Why Technology Alone Won’t Fix Education
“Artificial intelligence will transform the education system.” “Immersive technology will reshape learning forever.” These are just some of the industry rumblings about how edtech will disrupt and ultimately “fix” what’s wrong with the education system in the United States. With back-to-school season in full swing, it’s imperative that we set the record straight. The truth … Continue reading “Why Technology Alone Won’t Fix Education”
Tech Industry Lobby Proposes Data Privacy Laws; Critics Call Them Weak
The tech industry, which reaps billions of dollars by harvesting personal data and using it to sell targeted advertising and other services, opened the door to federal data privacy regulations today in a proposal by ITI, a lobbying organization for tech companies. The Information Technology Industry Council, which represents the policy interests of companies including … Continue reading “Tech Industry Lobby Proposes Data Privacy Laws; Critics Call Them Weak”
Google Launching Its Own Computer Science Courses on Campuses
Early next year, twenty students will have the opportunity to study machine learning for 10 weeks with Google engineers, college professors, and coaches—free of charge. Google is picking up the tab for tuition, room, and board for all students accepted into its new machine learning intensives in the inaugural year of the program, which starts … Continue reading “Google Launching Its Own Computer Science Courses on Campuses”
Qpex Biopharma Launches with $33M to Tackle Drug-Resistant Infections
The Medicines Company exited the infectious disease business last year when it sold three bacteria-fighting products to Melinta Therapeutics. But Melinta didn’t get all of the company’s bug-fighting drugs, and what’s left has become a new company—Qpex Biopharma. San Diego-based Qpex has raised $33 million to advance The Medicines Company’s (NASDAQ: [[ticker:MDCO]]) old preclinical compounds toward … Continue reading “Qpex Biopharma Launches with $33M to Tackle Drug-Resistant Infections”
Entrepreneurs Thinking Inside the Box
Hackathons usually involve thinking outside of the box. But for myself and four other MIT students, brainstorming, eating, and sleeping inside a 16-foot by 16-foot glass cube on campus for four days straight in mid-September proved just as effective at getting our creative juices flowing. The experience was part of InCube 2018, a global startup … Continue reading “Entrepreneurs Thinking Inside the Box”
TP Therapeutics Names New CEO, Gets $80M More for Cancer Drug Push
Five-year-old biotech TP Therapeutics has raised an $80 million mezzanine financing round and promoted its chief medical officer, Athena Countouriotis, to CEO. The San Diego-based biotech, which is developing targeted cancer drugs for people whose tumors resist other precision therapies, announced the changes Friday. TP Therapeutics is developing a drug called repotrectinib that targets a … Continue reading “TP Therapeutics Names New CEO, Gets $80M More for Cancer Drug Push”
Bio Roundup: Prices on TV, Novartis Hearts Radio, Warp Drive’s End
Two new battlegrounds emerged this week in the nation’s ongoing drug pricing debate. The first involved television: The federal government hopes that blaring prices in TV ads will essentially pressure drug makers into lowering them, and the pharma lobby fired back. The second centered around a group of pricey new migraine drugs: The nation’s largest … Continue reading “Bio Roundup: Prices on TV, Novartis Hearts Radio, Warp Drive’s End”
Exact Sciences Acquires San Diego Lab Equipment Supplier Biomatrica
Exact Sciences has gone from being a customer of Biomatrica, a San Diego-based vendor of equipment for storing and preserving blood and saliva samples, to now being the company’s owner. Madison, WI-based Exact (NASDAQ: [[ticker:EXAS]]), which is developing diagnostic tests for several types of cancer, said Thursday that it has acquired Biomatrica for an undisclosed … Continue reading “Exact Sciences Acquires San Diego Lab Equipment Supplier Biomatrica”
Report: Express Scripts Shuts Out Teva Migraine Drug, Prefers Rivals
[Updated 10/17/18, 2:52 p.m. See below.] Express Scripts has just exerted its influence over the emerging market battle between drug makers trying to sell a new class of migraine-preventing medicines. The pharmacy benefits manager (PBM) is excluding a new drug from Teva Pharmaceutical from coverage while favoring two rival treatments instead, according to a report … Continue reading “Report: Express Scripts Shuts Out Teva Migraine Drug, Prefers Rivals”
Spinraza Inventors Take Home $3M Breakthrough Prize in Life Sciences
The inventor and developer of a drug, nusinersen (Spinraza), are among the winners of the Breakthrough Prize in Life Sciences. Adrian Krainer (pictured) of Cold Spring Harbor Laboratory and Frank Bennett, senior vice president of research at Ionis Pharmaceuticals, share the $3 million award. The Breakthrough Prizes, now it their seventh year, tout themselves as … Continue reading “Spinraza Inventors Take Home $3M Breakthrough Prize in Life Sciences”
ATyr Pharma Chief Scientific Officer, David King, to Resign
ATyr Pharma, a developer of protein drugs, said Monday its chief scientific officer will leave the company at year’s end. David King has been with San Diego, CA-based aTyr (NASDAQ: [[ticker:LIFE]]) for two years. He is resigning to start a biotech company, aTyr said in a prepared statement, which quoted King as saying that launching … Continue reading “ATyr Pharma Chief Scientific Officer, David King, to Resign”
SoftBank’s Arm to Include Cybereason Security Services in IoT Hub
Security-tech company Cybereason is announcing another boon flowing from close ties with its biggest investor, Japanese telecom and tech giant SoftBank. Boston-based Cybereason has formed a partnership with Arm, the dominant developer of computer chip architecture, which was acquired by SoftBank in 2016. Cybereason’s security services will be incorporated into the Arm Pelion IoT platform, a … Continue reading “SoftBank’s Arm to Include Cybereason Security Services in IoT Hub”
Citing Regulatory Uncertainty, Origin Code Academy to Close
Origin Code Academy, one of San Diego’s few coding schools—for-profit companies that offer short-term vocational training in computer programming—said this month it will shutter on Nov. 16 after about three years in business. The company opened in late 2015, offering a 12-week course for $13,500 and promising graduates a software job within 90 days of … Continue reading “Citing Regulatory Uncertainty, Origin Code Academy to Close”
Paul Allen’s Contributions, Far Beyond Microsoft, Touched the Brain, AI & More
Technology and life sciences leaders say they’ll remember Paul Allen, the Microsoft co-founder, philanthropist, and investor who passed away Monday at age 65, as an “inspiration” whose work will impact the fields he worked in for years to come. Allen died from complications of non-Hodgkin’s lymphoma, according to a statement from Vulcan, the Seattle-based philanthropy … Continue reading “Paul Allen’s Contributions, Far Beyond Microsoft, Touched the Brain, AI & More”
Tulerie Helps Users Dress Like Models, Without Breaking the Bank
Tulerie makes its debut today, joining a growing roster of online clothing rental startups. The New York-based Tulerie focuses on high-end couture—items that retail for $1,000 to $10,000—that might be worn a time or two but mostly take up space in a woman’s closet. The company is building a two-sided marketplace, with owners of haute … Continue reading “Tulerie Helps Users Dress Like Models, Without Breaking the Bank”
After Net Neutrality: How to Prepare for the Internet’s New Reality
The federal net neutrality regulation, which had guaranteed equal access to the Internet for data from all sources, is officially repealed. There are no longer federal rules ensuring that all Internet traffic must be treated equally, and no FCC protections to stop Internet Service Providers (ISPs) from engaging in blocking, throttling, or paid prioritization of … Continue reading “After Net Neutrality: How to Prepare for the Internet’s New Reality”
Study: Reflexion Health Virtual Therapy System Reduces Rehab Costs
Reflexion Health, which has developed a “virtual physical therapy” system for patients recovering from surgery, said results from a randomized controlled clinical trial completed by nearly 300 people showed patients who used the technology saved the healthcare industry an average of $2,745 compared to those who underwent traditional physical therapy. The study, which evaluated Reflexion’s … Continue reading “Study: Reflexion Health Virtual Therapy System Reduces Rehab Costs”
Room Service by Robot and Other Ways Tech Is Changing the Hotel Stay
More days than not, Michael Colaneri’s home is a hotel room. So innovations like “geolocation” sensors that automatically unlock his room door and adjust the thermostat when he’s nearby make the constant change easier—sometimes. “My experience has been exceptionally inconsistent,” he says. “When it’s worked, it’s really great, cool, and so efficient to the point … Continue reading “Room Service by Robot and Other Ways Tech Is Changing the Hotel Stay”
Ansun BioPharma Adds Stanley Lewis to C-Suite
Ansun BioPharma has appointed Stanley Lewis to serve as its chief medical officer. Lewis comes to Ansun from TaiMed Biologics, where as CMO he oversaw the development of a treatment for multi-drug resistant HIV through to FDA approval. San Diego-based Ansun said Lewis will oversee the late-stage development of its lead candidate, DAS181, a treatment … Continue reading “Ansun BioPharma Adds Stanley Lewis to C-Suite”
Bio Roundup: BIO Diversity, Allogene IPO, CRISPR In Utero & More
Nearly four years after investors snapped up new shares of Juno Therapeutics in a $265 million IPO, cancer immunotherapy remains a hot ticket. Like Juno, Allogene Therapeutics just pulled in a massive IPO haul, nearly $300 million. And like Juno, Allogene is working with a live immune-cell treatment called CAR-T, but it is harvesting cells … Continue reading “Bio Roundup: BIO Diversity, Allogene IPO, CRISPR In Utero & More”
Facebook Bars 800 Fake Accounts and Pages For Using Tactics Like Russia’s
In another wave of account shutdowns, Facebook announced Thursday that it disabled more than 800 pages and accounts to prevent groups that disguised their identities from flooding its network with inauthentic content—some of it hyper-partisan political messages. Facebook (NASDAQ: [[ticker:FB]]) has been under pressure to cleanse its pages of fake news since the discovery that … Continue reading “Facebook Bars 800 Fake Accounts and Pages For Using Tactics Like Russia’s”
BIO Has Big Diversity Goals. Does It Have the Means to Reach Them?
Whether from embarrassing parties or sobering surveys, the biotech gender gap problem has made plenty of headlines the past couple years. The industry’s largest trade group, the Biotechnology Industry Organization (BIO), is trying to encourage its more than 1,000 member companies to do better. Last winter, BIO posted diversity goals for the industry to hit … Continue reading “BIO Has Big Diversity Goals. Does It Have the Means to Reach Them?”
Tim Berners-Lee Building Inrupt to Fix the Web—Will Users Come?
The World Wide Web is at a crossroads. For all the benefits it has brought society over the past three decades—faster and easier communication, instant knowledge access, a seemingly inexhaustible marketplace of goods and services—the Web has also morphed into an “engine of inequity and division,” according to its inventor, Tim Berners-Lee (pictured above). In … Continue reading “Tim Berners-Lee Building Inrupt to Fix the Web—Will Users Come?”
Teradata Moves HQ to San Diego in Global Rebranding Effort
Andrian Pawluk was living in San Diego when Teradata hired him this year and tasked him with transforming 65,000 square feet of offices into an alluring workspace for techies—but he had never previously heard of the data warehouse and business analytics company. And although Teradata has had an engineering R&D lab north of the city … Continue reading “Teradata Moves HQ to San Diego in Global Rebranding Effort”
Anaplan Ups Estimate For Its IPO Haul; Allogene IPO Raises $288M
San Francisco-based Anaplan, one of five companies planning to close initial public offerings this week, raised the expected price range for its shares in an SEC filing Wednesday, signaling an IPO that could be richer than it had anticipated. Enterprise planning software company Anaplan, which is privately valued at more than $1.4 billion, had originally … Continue reading “Anaplan Ups Estimate For Its IPO Haul; Allogene IPO Raises $288M”