Ligand Pharmaceuticals said Wednesday that its acquisition of U.K.-based biotech Vernalis has closed. The $42.3 million deal netted the San Diego company eight partner programs and a 70-person R&D team in Cambridge, England, plus about $32 million in cash after deal costs. Ligand (NASDAQ: [[ticker:LGND]]) CEO John Higgins, in a prepared statement, said the acquisition … Continue reading “With Vernalis Buy, Ligand Adds to Portfolio, Establishes U.K. Presence”
Category: San Diego
U.S. Venture Capital Deals on Pace to Exceed $100B in 2018
Once considered a passing phase, the concentration of capital into fewer, larger venture capital deals appears to be the new normal. Fueled by so-called mega-funds, investment in U.S.-based venture-backed companies as of the end of the third quarter hit a decade high, and is on pace to pass the $100 billion mark by year’s end. … Continue reading “U.S. Venture Capital Deals on Pace to Exceed $100B in 2018”
With a $10.2M Boost, YourMechanic Aims at Mobility Fleet Market
Every month, there’s news of another partnership among carmakers like GM and tech companies such as Uber, as they vie for dominant roles in a transportation future where individual car ownership may largely give way to rides-on-demand from fleets of autonomous and tech-enabled vehicles. But whether Uber, Toyota, GM, Honda, or Google end up at … Continue reading “With a $10.2M Boost, YourMechanic Aims at Mobility Fleet Market”
Senomyx, Maker of Flavor Enhancers, Set to Be Acquired by Firmenich
By year’s end San Diego’s Senomyx will be part of Firmenich, a privately held Swiss fragrance and flavor company. Senomyx (NASDAQ: [[ticker:SNMX]]), a biotech that makes flavor enhancers, launched nearly 20 years ago and went public in 2004 at $6 per share. But since then its stock price has fallen significantly, dropping below $1 per … Continue reading “Senomyx, Maker of Flavor Enhancers, Set to Be Acquired by Firmenich”
FDA OKs Akcea Rare Disease Drug, Setting Up Market Clash with Alnylam
For the second time since August, the FDA has approved a new treatment for a rare and deadly disease called hereditary transthyretin amyloidosis (hATTR). The agency’s nod for inotersen (Tegsedi) sets the stage for a market battle between the drug’s developer, Akcea Therapeutics, and rival Alnylam Pharmaceuticals. The FDA approved inotersen for treating polyneuropathy, the … Continue reading “FDA OKs Akcea Rare Disease Drug, Setting Up Market Clash with Alnylam”
Genomatica Grabs $90M to Boost Sustainable Chemical Business
Bioengineering pioneer Genomatica has raised $90 million in private funding to accelerate the commercialization of two chemicals it has developed from renewable sources—chemicals that are being used today in plastics, cosmetics, and personal care. The company says it will also use the money to further ongoing development of a third chemical, to be used in … Continue reading “Genomatica Grabs $90M to Boost Sustainable Chemical Business”
Bio Roundup: Nobel Prizes, Duchenne Steps, Guardant’s IPO & More
Cancer immunotherapy is all the rage these days. The idea of harnessing the immune system to treat cancer has sparked billions of dollars in research, led to a vast matrix of clinical trials, and started to change the way how several cancers are treated. The reason: When it works, cancer immunotherapy can lead to longer-lasting … Continue reading “Bio Roundup: Nobel Prizes, Duchenne Steps, Guardant’s IPO & More”
Cloudera, Hortonworks Plan to Merge as $5.2B Cloud Data Platform
Cloudera and Hortonworks, two large, publicly traded companies that compete to offer Web-based data storage and analytics, announced plans today to merge into a combined entity they value at $5.2 billion. Share prices for the two Silicon Valley companies spiked in after-hours trading following the announcement Wednesday that both their boards approved the all-stock deal. Palo … Continue reading “Cloudera, Hortonworks Plan to Merge as $5.2B Cloud Data Platform”
Rady Children’s to Test Bay Area Startup’s Diagnostics Tool for CNS
Physicians treating children with symptoms that indicate a potential central nervous system infection—a life-threatening condition—need to know two things: whether the infection is being caused by a pathogen, and if so, its identity. The San Diego, CA-based Rady Children’s Institute for Genomic Medicine (RCIGM), a subsidiary of Rady Children’s Hospital and Health Center, said today … Continue reading “Rady Children’s to Test Bay Area Startup’s Diagnostics Tool for CNS”
Girls In Tech Showcases Women Founders In SF Pitch Competition
Kristina Tsvetanova says she found the motivation for her startup Blitab in 2014, when a blind colleague’s struggle to communicate via the Internet made her conscious of the barriers facing visually impaired people in a digital world. Her search for solutions spurred her to move from her native Bulgaria to find greater resources in Vienna, … Continue reading “Girls In Tech Showcases Women Founders In SF Pitch Competition”
10 San Diego Startups to Compete at Region’s Top Pitch Competition
Ten tech startups will vie to impress a panel of six judges and hundreds of attendees at San Diego’s biggest pitch contest later this month. Three of the 10 slated to pitch at the Oct. 24 event will get a cut of $75,000 to advance their businesses. Launched in 2006 by San Diego’s Tech Coast … Continue reading “10 San Diego Startups to Compete at Region’s Top Pitch Competition”
Nobel Medicine Prize Honors Cancer Immunotherapy Pioneers Allison, Honjo
[Updated, 11:45 am ET, with comments from press conference] Harnessing the immune system to fight cancer has transformed the treatment of many cancers, and the lives of countless cancer patients who have seen their disease go into remission. This has led many people to speculate over the last several years that the founding researchers of … Continue reading “Nobel Medicine Prize Honors Cancer Immunotherapy Pioneers Allison, Honjo”
VelosBio Emerges with $58M in Funding to Steer Cancer Drugs to Clinic
VelosBio, a biotech startup researching new cancer drugs, has raised $58 million in financing. The new VelosBio cash, a Series A round of financing, was led by Arix Bioscience (LSE: [[ticker:ARIX]]) and Sofinnova Ventures. VelosBio joined Johnson & Johnson’s JLABS @ San Diego incubator in January. The company is developing antibody drug conjugates, a class … Continue reading “VelosBio Emerges with $58M in Funding to Steer Cancer Drugs to Clinic”
XRC Labs Showcases Retail Tech Innovations in VR, AI, Big Data
XRC Labs, an accelerator program focused on e-commerce and retail startups, held a demo day for its latest class Thursday, featuring innovations in artificial intelligence, virtual reality, and other technologies. The group of 10 startups is the sixth class for New York-based XRC, which was founded three years ago to promote innovation in the disruptive … Continue reading “XRC Labs Showcases Retail Tech Innovations in VR, AI, Big Data”
Bio Roundup: Amarin’s Stunner, Lung Cancer News, Data Dumps & More
Six years ago, a biotech called Amarin won FDA approval of a prescription fish-oil pill, Vascepa, because it could lower triglycerides, a type of fat in the blood. But Amarin didn’t have the evidence that lowering triglycerides with fish oil would really help people. Sales lagged. Amarin’s shares sank. While other groups tested other fish … Continue reading “Bio Roundup: Amarin’s Stunner, Lung Cancer News, Data Dumps & More”
Six Life Science Firms Close Q3 with an IPO, More Are on the Way
The window for life science IPOs is still open, and five biotechs and one medical device company chose the last week of the third quarter to make their stock market debuts. Gritstone Oncology (NASDAQ: [[ticker:GRTS]]) closed out the week by raising $100 million in an upsized IPO. On Thursday night, Emeryville, CA-based Gritstone priced its … Continue reading “Six Life Science Firms Close Q3 with an IPO, More Are on the Way”
With a New Name, Afyx Aims to Improve Oral Disease Treatment
Diseases that affect mucus membranes, such as those lining the inside of the mouth, can be difficult to treat because drugs don’t adhere well to wet surfaces. Afyx Therapeutics, a Danish transdermal drug company that established its North America headquarters in San Diego about six months ago, says it has developed a nanofiber-based patch that … Continue reading “With a New Name, Afyx Aims to Improve Oral Disease Treatment”
Where Can Influential Companies Go to Meet Exceptional Black VCs?
Culture Shifting Weekend—a November 1-3 invitation-only summit, presented by Culture Shift Labs (CSL)—will offer a rare opportunity for leading companies and investors to meet, vet, and fund the fast-growing ecosystem of Black venture capitalists and VC firms. Hosted at Infor in New York City, Culture Shift Lab’s annual three-day event will enable institutional investors, social … Continue reading “Where Can Influential Companies Go to Meet Exceptional Black VCs?”
Big Pharma Seeks More Partnerships, Evidence in Digital Therapeutics
“Digital therapeutics” startups are starting to win more respect—and investment dollars—from pharmaceutical giants. But the two sides are still figuring out how to work together to capitalize on the potential for apps, devices, and other software-enabled technologies to impact patients’ health. That’s what stood out to me the most as I listened to leaders from … Continue reading “Big Pharma Seeks More Partnerships, Evidence in Digital Therapeutics”
Vividion Names Receptos Alum Fred Aslan President
San Diego biotech Vividion Therapeutics, which says it is deploying proteomics and chemistry platforms to discover and develop novel small-molecule therapeutics, announced on Tuesday it has appointed Fred Aslan as its president and chief business officer. Aslan was a co-founder of Receptos Pharmaceuticals, which was acquired by Celgene for about $7 billion in 2015. Most … Continue reading “Vividion Names Receptos Alum Fred Aslan President”
Another Precision Step for Roche as Ignyta Drug Heads to Regulators
There was more news this morning in the advancement of precision cancer drugs, which target a tumor’s genetic signature. Roche plans to file for approval of entrectinib, a drug the Swiss firm acquired when it bought San Diego, CA-based Ignyta for $1.7 billion last year. Roche’s Genentech unit provided updated data pooled from three early … Continue reading “Another Precision Step for Roche as Ignyta Drug Heads to Regulators”
How Groups Are Closing the Security Skills Gap, Boosting Diversity
Today, there is a massive shortage of cybersecurity talent across the globe. According to a 2015 study from Frost & Sullivan and the (ISC)² Foundation, there could be more than 1.5 million unfilled cybersecurity positions globally by 2020. As cybersecurity attacks and data breaches, unfortunately, become a matter of not if but when, security talent … Continue reading “How Groups Are Closing the Security Skills Gap, Boosting Diversity”
Equillium Plans IPO to Fund Clinical Trials for Transplant Drug
Equillium, a biotech startup developing treatments for immune system disorders—including an immune response that affects some transplant recipients—is preparing for an IPO to finance tests of its lead drug. The company set a preliminary IPO target of $86 million, according to documents filed this week with securities regulators, and has applied to be listed on … Continue reading “Equillium Plans IPO to Fund Clinical Trials for Transplant Drug”
San Antonio Makes Pact to Commercialize Military, Academic Research
San Antonio — Life science groups, city officials, and research institutes in San Antonio are organizing an effort to commercialize more scientific developments coming out of the city’s military organizations. The goal of the project is to develop an alliance between researchers at San Antonio’s numerous military medical units, the two University of Texas institutions in … Continue reading “San Antonio Makes Pact to Commercialize Military, Academic Research”
Bio Roundup: Little Rhody, More for Migraine, Opioid Bills & More
The U.S. Senate had a rare moment of agreement, overwhelmingly passing a package of opioid-related bills. Up the East Coast, life-science players in Rhode Island are working to bring different local factions together and boost the state’s economy. Across the country, a similar effort is underway in Los Angeles. There were also plenty of headlines … Continue reading “Bio Roundup: Little Rhody, More for Migraine, Opioid Bills & More”
Convoy Reloads With $185M For Its Freight Shipment Marketplace
Convoy, an online marketplace that connects shippers with freight truck fleets and independent drivers, announced today it raised $185 million in a Series C fundraising round led by CapitalG, the growth equity investment fund of Alphabet, Google’s parent company. With its new funding, Seattle-based Convoy plans to continue expanding its network of customers and truckers … Continue reading “Convoy Reloads With $185M For Its Freight Shipment Marketplace”
Mi Padrino Builds Event-Planning Hub for Latino Communities in U.S.
Kim Gamez, CEO and co-founder of the Ann Arbor, MI-based startup Mi Padrino, is a self-described “all-American Gringa” who grew up in farm country. She fell in love with Hispanic culture as she got to know her husband Hugo, a native of San Luis Potosi, Mexico. One of her favorite traditions was that of the … Continue reading “Mi Padrino Builds Event-Planning Hub for Latino Communities in U.S.”
3 Life Science Startups Join San Diego’s Ad Astra Accelerator
Three San Diego life science startups have been selected to go through the Ad Astra Ventures accelerator program, a relatively new addition to the San Diego scene. Ad Astra, which means “to the stars” in Latin, was founded this year by three local entrepreneurs and investors interested in bolstering the efforts of women-led companies. Earlier … Continue reading “3 Life Science Startups Join San Diego’s Ad Astra Accelerator”
In Boston’s Shadow, Rhode Island Fights for Life Science Jobs, Respect
[Updated 9/19/18, 3:40 p.m. See below.] Tiny Rhode Island and its capital city Providence have always punched above their weight, for better or for worse. Better: Little Rhody’s founder Roger Williams, fleeing religious persecution in 17th-century puritanical Massachusetts, was one of America’s first abolitionists and created the concept of the separation of church and state. … Continue reading “In Boston’s Shadow, Rhode Island Fights for Life Science Jobs, Respect”
Biocom Opens New Bay Area Office, Forms Advisory Group
San Diego’s Biocom industry group announced Monday the latest development in its steady northward expansion. Biocom, which promotes and lobbies on behalf of life science companies, said it has opened a new office in the San Francisco Bay Area and formed an advisory board of local executives. The association, which represents more than 1,000 companies … Continue reading “Biocom Opens New Bay Area Office, Forms Advisory Group”
UiPath Snags $225M To Expand Robotic Workforce for Businesses
Top venture capital firms continue to pour money into software robotics companies that promise to automate monotonous business operations, like processing mortgage applications, that are often performed by humans. New York-based UiPath is the latest such company to score a haul, announcing Tuesday it raised $225 million in a Series C funding round co-led by … Continue reading “UiPath Snags $225M To Expand Robotic Workforce for Businesses”
15 San Diego Companies Chosen for Defense Innovation Program
A federally funded pilot program will provide 15 local defense contractors with free consulting services and six monthly “boot camp” workshops as part of a regionwide effort to help such companies better prepare to navigate changes in federal defense funding. Technology developed in San Diego for defense purposes has helped to seed the region’s private … Continue reading “15 San Diego Companies Chosen for Defense Innovation Program”
Viking Liver Drug Shows Promise for NASH, Shares Soar on Study Data
[Updated, 2:45 pm ET, see below] There is another update today in the competitive race to treat nonalcoholic steatohepatitis (NASH), an increasingly common liver disease with no FDA-approved therapies. Viking Therapeutics released preliminary results from a Phase 2 study suggesting its experimental drug might impact some of the disease’s many dangerous effects on the liver. … Continue reading “Viking Liver Drug Shows Promise for NASH, Shares Soar on Study Data”
CRISPR, ViaCyte Team Up to Develop Stem Cell-Based Diabetes Therapy
ViaCyte’s attempts to develop a stem cell therapy for diabetes have been stymied by the immune system, which recognizes the implanted cells as foreign. Meanwhile, CRISPR Therapeutics has found success in gene-editing cells so that the cells avoid such immune responses. Now the two companies are combining their respective technologies to develop a stem cell-based … Continue reading “CRISPR, ViaCyte Team Up to Develop Stem Cell-Based Diabetes Therapy”
Epic Sciences Names Katherine Atkinson Chief Commercial Officer
San Diego oncology diagnostics startup Epic Sciences has appointed Katherine Atkinson as its chief commercial officer. Atkinson was most recently vice president of business development at San Diego’s Edico Genome, which was acquired by Illumina (NASDAQ: [[ticker:ILMN]]) for $100 million in May. Prior to Edico Genome, Atkinson worked for Illumina. Previously Atkinson also had roles … Continue reading “Epic Sciences Names Katherine Atkinson Chief Commercial Officer”
Vision Assistance Startup Aira Inking Deals With UCSD, Retail Stores
Students and shoppers will soon be using technology developed by Aira, a San Diego startup that links vision-impaired people with “visual interpreters” via smartphone and smart glasses, to help them navigate their environments. In recent weeks Aira announced that its accessibility service would be available at no cost to those who need it while at … Continue reading “Vision Assistance Startup Aira Inking Deals With UCSD, Retail Stores”
Former Pfenex Exec Chen Joins Metacrine as Chief Medical Officer
Hubert Chen has been appointed chief medical officer of San Diego biotech Metacrine. Chen most recently worked as chief medical officer of Pfenex (NYSE American: [[ticker:PFNX]]). Metacrine develops drugs for liver and gastrointestinal diseases. Last year, Metacrine raised $22 million in Series B financing. The company plans to test its lead drug, MET409, as a … Continue reading “Former Pfenex Exec Chen Joins Metacrine as Chief Medical Officer”
The Rise of Robocalls and Cell Scams—and How to Stop Them
[Updated 9:15 a.m., see below.] Jen King was in a hurry to get out the door of her Bay Area home on a recent morning, and she missed a call to her cell phone because of it. The phone number that called her, she later discovered, was startling. “It was my home phone calling me, … Continue reading “The Rise of Robocalls and Cell Scams—and How to Stop Them”
Bio Roundup: CRISPR Ruling, “America’s Nobels,” IPOs & More
The long-running patent feud over CRISPR-Cas9 gene editing appears to be over, just as U.S. biotech companies gear up for the first human tests of the landmark technology. This week, a federal appeals court upheld a previous ruling handing a CRISPR-Cas9 patent to the Broad Institute of MIT and Harvard. The decision by the three-judge … Continue reading “Bio Roundup: CRISPR Ruling, “America’s Nobels,” IPOs & More”
Epic Sciences Raises $52M to Expand Cancer Diagnostic Portfolio
Oncology diagnostics company Epic Sciences, which last year launched what it describes as the only test that can help guide treatment for patients with advanced prostate cancer, has raised $52 million in a financing led by New York private equity firm Blue Ox Healthcare Partners to develop tests to address more types of cancer. The … Continue reading “Epic Sciences Raises $52M to Expand Cancer Diagnostic Portfolio”
With Cornershop, Walmart Expands On-Demand Delivery to Latin America
Walmart is taking the e-commerce delivery business south of the border. The Bentonville, AR, retailer announced Thursday it has acquired Cornershop, an on-demand online service that delivers products from supermarkets, pharmacies, and specialty shops in Mexico and Chile, for $225 million. “We are focused on making life easier for customers and associates by building strong … Continue reading “With Cornershop, Walmart Expands On-Demand Delivery to Latin America”
Software Startup Classy Adds Ex-Okta, Civitas Execs to C-Suite
Enterprise software startup Classy, which developed a platform through which it says nonprofit organizations have raised nearly $1 billion for their causes, has hired its first-ever chief revenue and chief product officers. Adam Aarons, the new chief revenue officer, was also named Classy’s president. The company, based in downtown San Diego, is headed by CEO … Continue reading “Software Startup Classy Adds Ex-Okta, Civitas Execs to C-Suite”
Living on the Edge: Amazon, AT&T, Packet Pursue “Cloudlet” Computing
The word “cloud”—as in cloud computing, and cloud storage—has served as a handy shorthand term, but it has always been inherently vague and a little misleading. When businesses and consumers use a cloud service provider like Amazon Web Services or Apple’s iCloud, their data, photos, and music don’t get processed in the misty skies above … Continue reading “Living on the Edge: Amazon, AT&T, Packet Pursue “Cloudlet” Computing”
Amazon, Walmart Planning to Add Hundreds of Tech Jobs in San Diego
San Diego has found itself to be the latest front in the ongoing Amazon-Walmart battle. Walmart made its name with brick-and-mortar stores, but the company has been vocal in recent months about its intent to fight for dominance in the digital landscape, an arena in which Amazon is a native. Next month about 70 people … Continue reading “Amazon, Walmart Planning to Add Hundreds of Tech Jobs in San Diego”
BMS Veteran Luisa Salter-Sid Named Gossamer Chief Scientific Officer
Luisa Salter-Cid has joined Gossamer Bio as the San Diego company’s chief scientific officer. Salter-Cid comes to Gossamer from Bristol-Myers Squibb (NYSE: [[ticker:BMY]]), where she held various positions over the past 13 years, including vice president and head of immunology, small molecule immuno-oncology, and genomics discovery. Gossamer formed in January to in-license and develop drugs … Continue reading “BMS Veteran Luisa Salter-Sid Named Gossamer Chief Scientific Officer”
Bio Roundup: A Gene Editing 1st, China Rises, Schenkein Steps Away
If you’re still recovering from a Labor Day hangover or busy searching for the identity of the anonymous writer of the anti-Trump op-ed for the New York Times, you may have missed a few biomedical firsts. This week brought the first sliver of human data from an in-body gene editing procedure, and the results were … Continue reading “Bio Roundup: A Gene Editing 1st, China Rises, Schenkein Steps Away”
Westlake Bio Unveils $320M Fund to Put Los Angeles on the Biotech Map
Los Angeles has long been in San Francisco’s shadow when it comes to life sciences investment. But a new venture capital firm led by industry veterans is trying to cast the City of Angels in a new light. Westlake Village BioPartners is launching today with $320 million in committed capital. The Los Angeles-based firm is … Continue reading “Westlake Bio Unveils $320M Fund to Put Los Angeles on the Biotech Map”
Bio Roundup: Pfizer’s Rare Results, U.K.’s CAR-T No, IPO Go-Go & More
Before you head out for the final summer getaway, catch up on the week’s headlines. Pfizer upped the ante in the field of transthyretin amyloidosis (ATTR) treatment, where competition to treat the rare disease has grown increasingly complex. We’ll start with what was—and wasn’t—in Pfizer’s data release Monday, top up with more ATTR news, then … Continue reading “Bio Roundup: Pfizer’s Rare Results, U.K.’s CAR-T No, IPO Go-Go & More”
Wireless Internet Firms Take On Big Telecoms in Cities and Suburbs
If you’re a city dweller, and unhappy with the big company that provides your Internet connection, chances are good there’s a scrappy little outfit that thinks it can do better for you. Metropolitan areas have become target territories for the wireless Internet service providers, or WISPs, that for a long time have been the only … Continue reading “Wireless Internet Firms Take On Big Telecoms in Cities and Suburbs”
Rivaling Google, Web-Mining Diffbot Opens Its Knowledge Graph to All
Diffbot, a tech startup that continuously scours the Web to assemble a “knowledge graph” of billions of facts in context, announced today that it’s opening up the searchable resource to the public—with starter rates as low as a cable TV bill. Mountain View, CA-based Diffbot gleans unstructured data scattered across websites, ads, blog posts, videos, … Continue reading “Rivaling Google, Web-Mining Diffbot Opens Its Knowledge Graph to All”