The San Diego MIT Enterprise Forum and San Diego Sports Innovators are hosting a case study on EllipitGO and the challenges of managing rapid expansion. ElliptiGO has developed a fitness device that provides a low-impact training experience outdoors. For ElliptiGO, the challenges include transitioning from primarily selling online to primarily selling through retailers. The question … Continue reading “ElliptiGO Sets the Pace for a New Global Industry”
Category: San Diego
CareFusion Sells Unit for $130M
CareFusion (NYSE: [[ticker:CFN]]), the San Diego medical equipment manufacturer, says it has agreed to sell its International Surgical Products distribution business, which is based in Rolle, Switzerland, to privately held Medline Industries for $130 million. The business sells consumable medical products, such as drapes and gowns, examination gloves, and custom procedure trays, with sales of … Continue reading “CareFusion Sells Unit for $130M”
FDA Rejects Orexigen’s Weight-Loss Drug, Arena Lays Off 66, ResMed CEO Jumps to CareFusion, & More San Diego Life Sciences News
A series of private announcements and public policy changes in recent days put a spotlight on entrepreneurs nationwide. As Wade wrote in a thoughtful analysis, we seem to have placed a much bigger bet as a nation on early stage startups—and the life sciences news out of San Diego this past week seemed to reflect … Continue reading “FDA Rejects Orexigen’s Weight-Loss Drug, Arena Lays Off 66, ResMed CEO Jumps to CareFusion, & More San Diego Life Sciences News”
Pacira Raises $42M in IPO
Pacira Pharmaceuticals, which is based in Parsippany, NJ, and San Diego, lowered its expected IPO price to $7 a share, according to a regulatory filing yesterday. Pacira is awaiting FDA approvaly for its injectable, extended-release analgesic drug, which was originally developed by San Diego-based DepoTech. The company raised a total of $42 million in its … Continue reading “Pacira Raises $42M in IPO”
Glaukos Lands $29,500,003 New Funding Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=e8157cf9-aa37-44e7-9e1f-798af8e02b20&Preview=1 Date 2/3/2011 Company Name Glaukos Mailing Address 26051 Merit Circle Laguna Hills, CA 92653 Company Description Glaukos is creating a new class of micro-bypass therapies to achieve sustainable, target intraocular pressures through the restoration of physiologic outflow, reduce the challenges and risks of glaucoma management associated with traditional therapies, and aid … Continue reading “Glaukos Lands $29,500,003 New Funding Round”
Fluorotronics Sees a Spike in Business Opportunities for Use of Carbon-Fluorine Bond
Olga Sharts has worked as a Russian-English translator, but the Russian immigrant who came to San Diego in the 1990s can be difficult to understand when she’s excited. And when I met with her, she was very, very excited. Sharts is the founding CEO of Fluorotronics, an 11-year-old startup based in Vista, CA, launched to … Continue reading “Fluorotronics Sees a Spike in Business Opportunities for Use of Carbon-Fluorine Bond”
Verve Buys Deconstruct Media
Verve Wireless, which is based in Encinitas, CA, and Bethesda, MD, says it has acquired Deconstruct Media, a Washington D.C. mobile advertising technology company founded by a team of former Advertising.com product and engineering executives. No financial terms were disclosed. Deconstruct’s self-service advertising system will be integrated into Verve’s ad manager platform. Deconstruct’s three employees … Continue reading “Verve Buys Deconstruct Media”
Vertex Urges CDC to Recommend Hep C Screening, To Nudge “Second Tsunami” of Patients
If Vertex Pharmaceuticals gets its way in talks with U.S. public health officials, most people over 50 could soon get blood tests to screen for hepatitis C infections at the doctor’s office. If the U.S. Centers for Disease Control and Prevention (CDC) agrees this is a good idea, it could prompt another 1 million patients … Continue reading “Vertex Urges CDC to Recommend Hep C Screening, To Nudge “Second Tsunami” of Patients”
Qualcomm Partner Launches Smart Grid Technology
A Jackson, MS, technology company is today launching a wireless communications platform for utility smart grids, giving San Diego’s Qualcomm a fresh opportunity to develop a vast new market for its Brew MP mobile operating system. As I reported last June, mobile applications developers have preferred other types of mobile operating systems (including Android, iPhone, … Continue reading “Qualcomm Partner Launches Smart Grid Technology”
Vertiflex Lands $14,000,000 Series D Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=3a47a981-071d-4925-ade4-4ea0940b96ad&Preview=1 Date 2/2/2011 Company Name Vertiflex Mailing Address 1351 Calle Avanzado San Clemente, CA 92673 Company Description Founded in Carlsbad, California in 2005, VertiFlex is dedicated to the creation, development and marketing of stabilization and motion preserving solutions for disorders of the spine. Website http://www.vertiflexspine.com Transaction Type Venture Equity Transaction Amount $14,000,000 … Continue reading “Vertiflex Lands $14,000,000 Series D Financing Round”
ImThera Medical Obtains $397,000 New Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=efd6f7ec-3461-475b-9fcf-9779a2177a18&Preview=1 Date 2/2/2011 Company Name ImThera Medical Mailing Address 11232 El Camino Real San Diego, CA 92130 Company Description ImThera Medical is a privately funded, early-stage company developing a novel, patent-pending, neurostimulation medical device for the treatment of Obstructive Sleep Apnea (OSA). Website http://www.imtheramedical.com Transaction Type Venture Equity Transaction Amount $397,000 Transaction … Continue reading “ImThera Medical Obtains $397,000 New Round”
GraphEffect Receives $2,000,000 New Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=94a5c3d5-1ec6-4715-bc31-fa4777ed8d48&Preview=1 Date 2/2/2011 Company Name GraphEffect Mailing Address Undisclosed Los Angeles, CA 90049 Company Description The company helps brands and agencies leverage the Facebook social network for lead generation and advertising purposes. Website http://www.grapheffect.com Transaction Type Venture Equity Transaction Amount $2,000,000 Transaction Round Undisclosed Proceeds Purposes It will be using the new … Continue reading “GraphEffect Receives $2,000,000 New Financing Round”
White House Startup Investment Coincides with Sweeping Changes for TechStars, Y Combinator, Other Incubators: A Road to Recovery, or Another Bubble?
It’s been an unforgettable seven days for tech entrepreneurs—as if somebody poured startup juice into the nation’s water supply. First President Obama dedicates a good chunk of his State of the Union address to the virtues of high-tech innovation and entrepreneurship. Then Russian investor Yuri Milner and Silicon Valley super-angel Ron Conway pair up to … Continue reading “White House Startup Investment Coincides with Sweeping Changes for TechStars, Y Combinator, Other Incubators: A Road to Recovery, or Another Bubble?”
Going Mobile: TurboTax App for EZ Tax Filing is Latest Example of Intuit’s Broader Smartphone Initiative
Shortly after Brad Smith took over in January, 2008, as president and CEO of Intuit (NASDAQ: [[ticker:INTU]]), he embarked on a “listening tour” to identify the Mountain View, CA, company’s biggest opportunities and challenges. In developing what he called the “case for change,” Smith combined what he heard with some broader trends, such as shifting … Continue reading “Going Mobile: TurboTax App for EZ Tax Filing is Latest Example of Intuit’s Broader Smartphone Initiative”
California Biotech, Despite Lots of Ugliness, Poised to Add Jobs, CEO Survey Says
California has horrific budget deficits, high taxes, high unemployment, and an overall economy for investment that’s still a bit shell-shocked from the financial crisis of 2008. And yet in one of the riskiest of all industries, life sciences, leading executives in California are confident that things are starting to turn for the better. That’s a … Continue reading “California Biotech, Despite Lots of Ugliness, Poised to Add Jobs, CEO Survey Says”
CareFusion Names Gallahue as Chairman and CEO
San Diego-based CareFusion (NYSE: [[tickerCFN]]), the medical equipment company that was spun out by Cardinal Health (NYSE:[[ticker:CAH)]] in late 2009, today named Kieran Gallahue as chairman and CEO, succeeding David Schlotterbeck, who had previously announced his retirement. CareFusion, which posted $3.9 billion in sales last year, is a medical technology company with such established products … Continue reading “CareFusion Names Gallahue as Chairman and CEO”
Farrell Resumes Command at ResMed
San Diego’s ResMed (NYSE: [[ticker:RMD]]) says founder and executive chairman Peter Farrell is returning as CEO following the surprise resignation of Kieran Gallahue, who left to become the chairman and CEO of San Diego-based CareFusion (NYSE: [[tickerCFN]]). Farrell, who also will continue to serve as the board’s executive chairman, founded ResMed in 1989 and served … Continue reading “Farrell Resumes Command at ResMed”
Startup America Starts Up—-Thoughts from the White House Kickoff
Yesterday the Kauffman Foundation and the Case Foundation helped to launch a new initiative called the Startup America Partnership. The idea emanated from the White House early in 2010 and has been germinating since that time. As many Xconomy readers are aware, the Kauffman Foundation has seeded programs to support entrepreneurs, entrepreneur education, and research … Continue reading “Startup America Starts Up—-Thoughts from the White House Kickoff”
Orexigen Fails to Win FDA Approval of Obesity Drug, Stock Crashes
Anyone who briefly thought Orexigen Therapeutics was the ray of light in a dismal world for obesity drug development will have to think again. Orexigen lost more than 70 percent of its value this morning on some devastating news from U.S. drug regulators. San Diego-based Orexigen Therapeutics (NASDAQ: [[ticker:OREX]]) and its partner, Japan-based Takeda Pharmaceuticals, … Continue reading “Orexigen Fails to Win FDA Approval of Obesity Drug, Stock Crashes”
Understanding Global Market Access & Reimbursement
Demonstrating value amid pricing pressures is believed to be the most critical strategic issue facing the life sciences industries. Understanding the global market access and reimbursement needs of key markets is the first step in developing a plan to demonstrate the value of products. But manufacturers of drugs, devices, or diagnostic tests fail to adequately … Continue reading “Understanding Global Market Access & Reimbursement”
Forecasting the Return of the Small and Mid-Market IPO
The San Diego Venture Group hosts Bill Hambrecht, the legendary chairman of W.R. Hambrecht + Co. and a co-founder of the former Hambrecht & Quist investment banking firm. He will discuss the IPO market and the prospects for small and mid-sized U.S.-based companies that want to go public. San Diego’s own American Assets captured more … Continue reading “Forecasting the Return of the Small and Mid-Market IPO”
Meet the Angels
The Mintz Levin law firm is hosting an opportunity for entrepreneurs to meet members of the Tech Coast Angels’ San Diego chapter. Representatives from dozens of cutting edge companies with great ideas and products will be attending, along with local angel investors. More information and online registration is here.
OpenCandy Hackathon in San Diego’s Gaslamp District
San Diego-based OpenCandy, which develops technology to help software developers reach new users, has organized “Hackathon SD” for creative software developers, web developers, and designers to work collaboratively on projects of their choosing. HardCandy is billing the event as a 23-hour marathon of creativity and cooperative development. More information and online registration is here.
Qualcomm Names 6 Finalists in Global QPrize Venture Financing Competition
I had to double-check after Qualcomm today announced the six regional finalists for its second annual QPrize venture investment competition. The San Diego wireless giant (NASDAQ: [[ticker:QCOM]]) held its inaugural QPrize event in 2009, but the logistics of running a global prize competition made it difficult to reprise the entire process in 2010. So this … Continue reading “Qualcomm Names 6 Finalists in Global QPrize Venture Financing Competition”
Scripps President Richard Lerner To Step Down, Be Replaced by Berkeley Chemist, Sources Say
Richard Lerner, the president of one of San Diego’s leading research institutions for the past two decades, will soon step down from the top job at The Scripps Research Institute—and he is likely to be replaced by a top chemist and molecular biologist from UC Berkeley, Xconomy has learned. No formal announcement has been made, … Continue reading “Scripps President Richard Lerner To Step Down, Be Replaced by Berkeley Chemist, Sources Say”
Venture Outlook 2011: Returning to the Way We Were
Charles River Ventures partner Bill Tai made an interesting analogy between surfing and venture investing for the San Diego audience that gathered last week at the San Diego Venture Group’s panel discussion on the venture outlook for the coming year. The annual event usually draws big crowds, and this year was no exception. Some 350 … Continue reading “Venture Outlook 2011: Returning to the Way We Were”
Qualcomm’s CEO Talks Wireless Health, InLab Ventures Pioneers New VC Model, Fallbrook Technologies Tops Deals List, & More San Diego BizTech News
If there was a theme to last week’s biztech news in San Diego, it might be learning how to negotiate the complexities of technology innovation. We’ve got it wrapped up for you, from Qualcomm’s Paul Jacobs to Sorenson Media’s Eric Quanstrom. —During a panel discussion about combating chronic disease at last week’s World Economic Forum … Continue reading “Qualcomm’s CEO Talks Wireless Health, InLab Ventures Pioneers New VC Model, Fallbrook Technologies Tops Deals List, & More San Diego BizTech News”
Encouraging Women in Industry to Apply for Faculty Jobs
Over the years, I noticed that we’d hired some terrific faculty at the University of Washington who came directly from industry. These faculty members have quickly gotten up to speed, and they’ve loved their new academic careers. It occurred to me that this would be a great way to get more women faculty in science, … Continue reading “Encouraging Women in Industry to Apply for Faculty Jobs”
Uncle Sam Hearts Drugs, Not Devices. Why?
WTF! You can forgive medical device investors and CEOs if they’ve uttered that not-so-family-friendly acronym during the last year or so. First, the Food and Drug Administration signals it will likely tighten restrictions on the popular 510(k) regulatory program, which allows device makers to quickly develop new products that are slightly better or different than … Continue reading “Uncle Sam Hearts Drugs, Not Devices. Why?”
San Diego’s Fight Against Diabesity: The Photo Gallery
Obesity and diabetes are the two biggest health scourges we’ll face over the coming decades, according to public health officials. Yet it has never seemed more daunting to develop new treatments or technologies to put a dent in the twin epidemics. We had a fascinating conversation about the dilemma of this business last night at … Continue reading “San Diego’s Fight Against Diabesity: The Photo Gallery”
How the Challenger Disaster Changed My Life
The space shuttle Challenger exploded shortly after liftoff on January 28, 1986—twenty-five years ago today. The disaster took the lives of six astronauts and one schoolteacher, and shook NASA to its core. Like other televised national traumas, it burned itself into the memories of millions of people. I was just a spectator to the catastrophe, … Continue reading “How the Challenger Disaster Changed My Life”
Meritage Swallows $2M
San Diego-based drug developer Meritage Pharma raised $2 million in a round of equity-based financing planned to total $5.5 million, an SEC filing indicates. Meritage is out to develop a treatment for a little-known ailment called eosinophilic esophagitis, in which an allergic reaction causes a patient’s esophagus to swell, sometimes to the point where food becomes … Continue reading “Meritage Swallows $2M”
Merck, Staring at a Biotech Future, Seeks to Get in the Game With New Protein Drugs, Biosimilars
Biotech drugs will soon dominate the pharmaceutical industry, according to analyst estimates of what are projected to be the world’s top 10 selling therapies in 2014. Eight of these brands on this list are products of genetic engineering, while only two are traditional oral pills made through chemical synthesis. One other thing jumps out. Not … Continue reading “Merck, Staring at a Biotech Future, Seeks to Get in the Game With New Protein Drugs, Biosimilars”
Personalized Medicine Regulation Needs More Than Band-Aids
Last week, New York State assemblyman J. Gary Pretlow introduced the descriptively named “act to amend the insurance law, in relation to requiring coverage for genetic testing in accident and health insurance polices.” While not accompanied by a press release, or widely covered by media outlets, the bill merits close attention. While the substance of … Continue reading “Personalized Medicine Regulation Needs More Than Band-Aids”
Lockerz Acquires Plixi for Undisclosed Sum
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=8ac0392f-1105-4860-8592-d26183b456cf&Preview=1 Date 1/28/2011 Company Name Plixi Mailing Address 1912 Circle Park Lane Encinitas, CA 92024 Company Description Plixi is a real-time photo sharing platform for the social web. This free service allows you to share photos on Twitter, Facebook, and more. The service focuses on creating the best possible user-experience among the … Continue reading “Lockerz Acquires Plixi for Undisclosed Sum”
Meritage Pharma Obtains $2,000,001 New Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=624413b5-c22f-4bfa-a08f-604707783ddb&Preview=1 Date 1/28/2011 Company Name Meritage Pharma Mailing Address 12481 High Bluff Drive San Diego, CA 92130 Company Description Meritage Pharma is committed to the development of prescription products based on proven safe and effective molecules to meet the unmet needs of patients and their caregivers. Meritage Pharma’s initial product candidate is … Continue reading “Meritage Pharma Obtains $2,000,001 New Financing”
Arena Pharmaceuticals Axes One-Fourth of Workforce As it Hangs On With Obesity Drug
Arena Pharmaceuticals (NASDAQ: [[ticker:ARNA]]) is making a big round of job cuts today to conserve cash as it keeps pushing to satisfy questions U.S. regulators have about its lead obesity drug in development. The San Diego-based developer of the obesity treatment lorcaserin said today it has eliminated 66 jobs, or about 25 percent of its … Continue reading “Arena Pharmaceuticals Axes One-Fourth of Workforce As it Hangs On With Obesity Drug”
Shrinkage—Expanded Upon….
Poor investment returns have had a similar effect to cold water – the VC industry is shrinking. As a follow-up to comments I posted this past weekend, I wanted to look deeper into recent fundraising data and see what other implications one might draw. Since 1980 the VC industry has raised $495 billion across 4,333 … Continue reading “Shrinkage—Expanded Upon….”
A Done Deal: Ligand Diversifies its Drug Revenue With CyDex Acquisition
Investors showed little response this morning after San Diego’s Ligand Pharmaceuticals (NASDAQ: [[ticker:LGND]]) said yesterday it had acquired CyDex Pharmaceuticals for more than $36 million in mostly borrowed cash. After gaining a few cents a share, Ligand’s stock reversed course, and was down 9 cents a share at mid-day, to $8.67 a share in normal … Continue reading “A Done Deal: Ligand Diversifies its Drug Revenue With CyDex Acquisition”
Novartis Acquires Genoptix, Elcelyx Raises $6M, Pfenex Gets Subcontract to Work on Malaria Treatment, & More San Diego Life Sciences News
Much of the life sciences news out of San Diego over the past week concerned new technologies and treatments for diabetes and obesity. We’ve got it covered. —Switzerland’s Novartis AG agreed to pay $470 million to buy Genoptix (NASDAQ: [[ticker:GXDX]]), a Carlsbad, CA-based company that centralized the business of providing specialized diagnostic services for cancers … Continue reading “Novartis Acquires Genoptix, Elcelyx Raises $6M, Pfenex Gets Subcontract to Work on Malaria Treatment, & More San Diego Life Sciences News”
See You Tonight at “San Diego’s Fight Against Diabesity”
If two-thirds of all Americans are too heavy, and millions more continue to get diabetes, how will we pay the trillions in medical bills over the next decade? Who will find ways to solve this public health problem, and build real businesses on prevention and treatment? How are some of San Diego’s biotech leaders adapting … Continue reading “See You Tonight at “San Diego’s Fight Against Diabesity””
Fabless Chip Designer Sheds Stealth Cloak, Changes Name to Enerv
Pervasive was keeping a low profile last year, when I reported the fabless semiconductor design startup had raised $6 million in a round led by two Bay Area venture firms, New Enterprise Associates and Walden International. But that’s not true any more. Reza Mirkhani, the company’s San Diego-based founder and CEO, tells me the company … Continue reading “Fabless Chip Designer Sheds Stealth Cloak, Changes Name to Enerv”
Pfēnex Awarded $3.1M for Malaria Work
San Diego-based Pfēnex, a 2009 spinout from Dow Chemical, got a $3.1 million subcontract from SAIC, the Virginia-based government contractor, to help develop a scalable production process for a key Malaria antigen. Pfēnex has developed a technology platform that uses fluorescing bacteria to produce a variety of specialized protein-based products. In a statement today, the … Continue reading “Pfēnex Awarded $3.1M for Malaria Work”
Stealthy Elcelyx Therapeutics, Focused on Diabetes, Raises $6M
Elcelyx Therapeutics, a stealthy biotech developing new therapeutics for treating diabetes and other metabolic diseases, is emerging in San Diego, adding its name to the deep roster of local companies with expertise in fighting these related threats to public health. Elcelyx has raised just over $6 million from investors in what appears to be the … Continue reading “Stealthy Elcelyx Therapeutics, Focused on Diabetes, Raises $6M”
InLab Ventures, Based in San Diego and Orange County, Pursues Alternative VC Path
Some folks have been saying for at least a couple of years that the venture capital business model is broken. But is the venture capital industry really ready for a different business model? Orange County investor and entrepreneur Chip F. Parker founded InLab Ventures two years ago as an early stage venture firm with a … Continue reading “InLab Ventures, Based in San Diego and Orange County, Pursues Alternative VC Path”
The New Normal for Biotech Startups
The structural changes roiling the pharmaceutical sector are driving innovation of biotech business models. With shrinking operating margins, patent expirations, a paucity of new product launches, significant reimbursement pressure, and an unpredictable regulatory environment—Big Pharma’s high risk bets on early stage biotechs of the past decade look cavalier through the lens of the current market … Continue reading “The New Normal for Biotech Startups”
CampusExplorer Garners Series C Funding
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=3ada1026-8a5d-4422-8e51-379a14f68461&Preview=1 Date 1/26/2011 Company Name CampusExplorer Mailing Address 2850 Ocean Park Blvd. Santa Monica, CA 90405 Company Description CampusExplorer.com is dedicated to helping students, parents and counselors find the information and support needed while researching and applying to post secondary schools. Choosing the right school is an important life decision and CampusExplorer.com … Continue reading “CampusExplorer Garners Series C Funding”
Elcelyx Therapeutics Receives $6,050,001 New Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=de6bbaf5-fa80-44fb-be0c-b0443d184f4d&Preview=1 Date 1/26/2011 Company Name Elcelyx Therapeutics Mailing Address 12730 High Bluff Dr San Diego, CA 92130 Company Description Elcelyx Therapeutics of San Diego is a stealth mode diabetes related biotechnology company. Website Undisclosed Transaction Type Venture Equity Transaction Amount $6,050,001 Transaction Round Undisclosed Proceeds Purposes Proceeds purposes were not disclosed. A … Continue reading “Elcelyx Therapeutics Receives $6,050,001 New Financing”
Sorenson Media, a ‘Swiss Army Knife’ for Video Encoding, Sets Course for Web-Based Service
A major upgrade to a well-established software product doesn’t usually move the needle much at Xconomy, where we prefer to focus on the really disruptive innovations and strategic innovations taking place throughout the tech sector. But this is a time of intensifying frothiness in the world of online video technology. So the improvements that Carlsbad, … Continue reading “Sorenson Media, a ‘Swiss Army Knife’ for Video Encoding, Sets Course for Web-Based Service”
Playcast Media Systems Lands $10,000,000 Series B Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=194eb5e8-d1fd-4fba-8b87-172e525cf77e&Preview=1 Date 1/25/2011 Company Name Playcast Media Systems Mailing Address 9560 Wilshire Blvd. Beverly Hills, CA 90212 Company Description Playcast is a Games-on-Demand system for cable and IPTV operators. It converts a standard set-top box into a powerful games console – using our breakthrough technology which eliminates any latency concerns. Website http://www.playcast-media.com … Continue reading “Playcast Media Systems Lands $10,000,000 Series B Financing Round”