San Diego-based Quidel (NASDAQ:[[ticker:QDEL]]), which makes medical diagnostic tests used at the point-of-care, says it is paying $130 million in cash to acquire Athens, OH-based Diagnostic Hybrids, a privately held maker of medical diagnostic tests for hospitals and laboratories. Diagnostic Hybrids, founded in 1983, was spun out from Ohio University, and the university’s fund-raising arm … Continue reading “Quidel Buys Diagnostic Hybrids for $130M”
Category: San Diego
UCSD Business School Launches Student-Assisted Venture Fund
Entrepreneurs scratching to find sources of startup capital in San Diego will soon be getting help from an unexpected source. The Rady School of Management at UC San Diego says it is launching its own venture fund that will use donor funds to make investments of $75,000 to $100,000 in startups commercializing new technologies. The … Continue reading “UCSD Business School Launches Student-Assisted Venture Fund”
VentiRx Nabs $25M for Cancer, Allergy Drugs
VentiRx Pharmaceuticals has raised a venti-sized load of new cash. The San Diego and Seattle-based company that’s developing drugs to amplify the body’s innate immune system to fight cancer and allergies has pulled in $25 million through a new round of financing. The deal is technically described as an extension of a $26.6 million Series … Continue reading “VentiRx Nabs $25M for Cancer, Allergy Drugs”
San Diego’s SG Biofuels Announces Strategic Alliance with Life Technologies
It’s been almost a year since San Diego-based SG Biofuels stepped out of the shadows to announce its plans to produce biodiesel and feedstock substitutes from Jatropha, a hardy shrub that produces golf ball-size seeds with high oil content. Today, the company is announcing it has formed a strategic alliance with Life Technologies (NASDAQ: [[ticker:LIFE]]), … Continue reading “San Diego’s SG Biofuels Announces Strategic Alliance with Life Technologies”
Be of Good Cheer in New Year, All Ye Entrepreneurs and Startup Founders
The National Venture Capital Association recently released a member survey that predicted: —In 2010 there will be fewer VC firms —Surviving VCs will spend most of their remaining funds on existing investments, and —Leftover funding will focus investments mostly on later-stage deals It’s hard to avoid the conclusion that things are looking very grim for … Continue reading “Be of Good Cheer in New Year, All Ye Entrepreneurs and Startup Founders”
Flurry of Early Stage Internet Deals Highlight Q4 VC Activity; Investments Slip to $5.5B
Venture investing settled in a bit during the fourth quarter of 2009, but the analysts at ChubbyBrain, the New York firm providing the data, are encouraged by the overall mix, saying, “optimism, albeit of the cautious variety, seems to have found its way back.” While the total amount of venture capital investments during the quarter … Continue reading “Flurry of Early Stage Internet Deals Highlight Q4 VC Activity; Investments Slip to $5.5B”
VentiRx Pharmaceuticals Secures $25,000,000 Series A Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=9103414a-316a-420c-b529-20d281694fba&Preview=1 Date 1/12/2010 Company Name VentiRx Pharmaceuticals Mailing Address 12651 High Bluff Drive San Diego, CA 92130 Company Description VentiRx Pharmaceuticals, Inc. is a biopharmaceutical company committed to the development of novel medicines for the treatment of cancer, infectious, respiratory, and autoimmune diseases. Website http://www.ventirx.com Transaction Type Venture Equity Transaction Amount $25,000,000 … Continue reading “VentiRx Pharmaceuticals Secures $25,000,000 Series A Financing”
SEDline Lands $3,500,000 New Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=7cb0cf5a-9be3-4d4d-974e-7494005be8bc&Preview=1 Date 1/12/2010 Company Name SEDline Mailing Address Undisclosed Irvine, CA 92612 Company Description SEDLine, Inc. is a research-focused company with the mission to expand the scope and applications for neuromonitoring. Based on over 10 years of technical and clinical development, the SEDLine core product is a pioneering four-channel brain-function monitor that … Continue reading “SEDline Lands $3,500,000 New Financing Round”
Fund-Raising By U.S. Venture Capital Funds Fell 55% in 2009: We Have the Boston, San Diego, and Seattle Details, Too
It’s probably not much consolation for the entrepreneurs who tried to raise venture funding last year, but U.S. venture capital firms raised much less money from their institutional investors in 2009 than they have in recent years. New figures from Dow Jones LP Source show that fund-raising by venture firms in 2009 fell almost 55 … Continue reading “Fund-Raising By U.S. Venture Capital Funds Fell 55% in 2009: We Have the Boston, San Diego, and Seattle Details, Too”
Tandem Diabetes Care Snags $52M Financing for Insulin Pumps
Tandem Diabetes Care, a San Diego-based company developing insulin pumps for diabetics, has raised a whopping $52.3 million round of equity financing that began last May, according to a regulatory filing. The company is led by CEO Kim Blickenstaff, the co-founder and former CEO of Biosite, a diagnostic company that was acquired by Inverness Medical … Continue reading “Tandem Diabetes Care Snags $52M Financing for Insulin Pumps”
Qualcomm Shows its Consumer Side at CES, Venture Investor Joins Economic Development Corp., Dot Hill Buys Cloverleaf, & More San Diego BizTech News
There was a lot of tech news from Las Vegas last week, and it wants to get out. So we’re setting it free now. —Dazzling examples of the latest innovations of tablet computers, e-book readers, 3D-TVs, netbooks, and many more electronic devices were introduced at the annual International Consumer Electronics Show (CES), which ended yesterday … Continue reading “Qualcomm Shows its Consumer Side at CES, Venture Investor Joins Economic Development Corp., Dot Hill Buys Cloverleaf, & More San Diego BizTech News”
See You at the JP Morgan Healthcare Conference
It’s mid-January, and in biotech that means only one thing—it’s time for the annual industry pilgrimage known as the JP Morgan Healthcare Conference. I’m here as always, attending the meeting in San Francisco’s Union Square that draws most of this fragmented industry’s major investors, biotech executives, and pharma dealmakers in one place for a frenzy … Continue reading “See You at the JP Morgan Healthcare Conference”
The Intellectual Property Century
Great technology improvements over the past decade have proven again that innovation serves as the best currency for progress against our greatest challenges. Terrific new tools and applications in information technology have been on display everywhere during the holidays; green tech ideas abound offering great promise; and even in the more prolonged R&D world of … Continue reading “The Intellectual Property Century”
Advanced Cardiac Therapeutics Secures $5,000,000 Series B Funding
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=a7ab356c-5ca3-4163-a7e7-c67f0226f679&Preview=1 Date 1/11/2010 Company Name Advanced Cardiac Therapeutics Mailing Address 968 Skyline Drive Laguna Beach, CA 92651 Company Description Advanced Cardiac Therapeutics, Inc. develops and manufactures products for use in electrophysiology based on microwave radiometry technology. Its products provide real-time feedback of energy delivered by catheters during cardiac ablation procedures. The company … Continue reading “Advanced Cardiac Therapeutics Secures $5,000,000 Series B Funding”
Tandem Diabetes Care Obtains $52,300,000 New Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=038ab1fb-fd90-4813-acad-fa237a765e0a&Preview=1 Date 1/11/2010 Company Name Tandem Diabetes Care Mailing Address 11045 Roselle Street San Diego, CA 92121 Company Description The company develops medical devices for the treatment of diabetes. Website http://www.tandemdiabetes.com Transaction Type Venture Equity Transaction Amount $52,300,000 Transaction Round Undisclosed Proceeds Purposes Proceeds purposes were not disclosed. M&A Terms Venture Investor … Continue reading “Tandem Diabetes Care Obtains $52,300,000 New Financing”
So Quoth Frank Quattrone
The San Diego Venture Group hosts investment banker Frank Quattrone for its first breakfast meeting of 2010. Quattrone heads the merchant banking firm Qatalyst Group, which he founded in March 2008. As an investment banker at Credit Suisse First Boston during the 1990s tech boom, Quattrone led IPOs for dozens of companies, including Netscape, Cisco, … Continue reading “So Quoth Frank Quattrone”
Merck, Novartis, and J&J: What is Big Pharma Up to in 2010?
What does the arrival of major pharmaceutical research centers in Southern California mean for San Diego? Will big pharma’s quest for new pipeline products bring new investment to startups? Will big biotech bring in additional resources? Is groom-to-acquire a good thing? James Schaeffer of Merck Research Laboratories, Avi Spier of Novartis Research Foundation, and Diego … Continue reading “Merck, Novartis, and J&J: What is Big Pharma Up to in 2010?”
In Search of Less Toxic Cancer Therapies
Catriona Jamieson, an assistant professor of medicine in the hematologic malignancies program at UC San Diego and director of the stem cell research program at the Moores Cancer Center has identified a promising cancer treatment. Jamieson specializes in leukemia and myeloproliferative disorders (MPDs), a family of unusual degenerative disorders in which the body overproduces blood … Continue reading “In Search of Less Toxic Cancer Therapies”
TelCentris and VoxOx: How Can a New Phone Company Become a Market Leader?
The MIT Enterprise Forum of San Diego presents a case study on VoxOx, an all-in-one communications platform created by TelCentris, a San Diego startup that operates a CLEC, a competitive local exchange carrier. A presentation by TelCentris president Michael Fraught will be followed by a panel discussion that is intended to address some key questions. … Continue reading “TelCentris and VoxOx: How Can a New Phone Company Become a Market Leader?”
Patent Reform and The View From the Hill: Congressman Darrell Issa and IP Experts Discuss Changes to Come in Looming Patent Legislation
The U.S. Congress will soon be addressing current Intellectual Property policies and debating various approaches to patent reform. Anticipated changes will have far-reaching implications for the innovation economy and San Diego’s business and entrepreneurial communities. More information and online registration is here.
Australian CleanTech: Synergies & Opportunities with San Diego
Explore the many synergies and opportunities for cleantech collaboration between Australia and San Diego. The Australian Trade Commisssion and CleanTech San Diego present a panel discussion and networking event that offers an opportunity to hear about developments and opportunities in Australia and San Diego. Meet with clean tech industry professionals, researchers and investors. More information … Continue reading “Australian CleanTech: Synergies & Opportunities with San Diego”
SDBN Career Development and Speed Networking
The San Diego Biotechnology Network is hosting experts from Proven Scientific Staffing and RxResearch Staffing who will share useful tips for career development. The event also includes a fast-paced speed networking exercise. Participants will share business cards, history and offer new contacts with valuable information about their business. More information and online registration is here.
Achates Power Closes Round at $19.2M
San Diego cleantech startup Achates Power said late today it has completed a $19.2 million Series B round of venture funding that brought a new investor into its fold: Triangle Peak Partners, which has offices in Carmel, CA, Houston, and Palo Alto, CA. The funding appears to complete a round we noted in October. With … Continue reading “Achates Power Closes Round at $19.2M”
Asset Liquidation Signals End of San Diego’s Verari Systems
When San Diego tech firm Verari Systems abruptly laid off nearly all of its employees last month, senior vice president Dan Gatti maintained that the doors remained open, a few executives were staying on, and the company was restructuring its business. In a Dec. 14 statement posted on Verari’s website, the company said it had … Continue reading “Asset Liquidation Signals End of San Diego’s Verari Systems”
San Diego’s Organovo Develops Bio-Printer Technology to Engineer New Organs
A biomedical startup in San Diego is giving new form to tissue engineering, with the help of proprietary technology licensed from the University of Missouri and a 3-D “bio-printer” capable of building human blood vessels and organs. Organovo CEO Keith Murphy demonstrated the bio-printer for me several weeks ago, explaining that the technology was developed … Continue reading “San Diego’s Organovo Develops Bio-Printer Technology to Engineer New Organs”
Five Disruptive Biotech Ideas to Watch in the Coming Decade
It was a remarkable decade. There were so many advances in biotech during the first decade of the millennium that it is hard to choose the most important ones so I’d prefer to focus on five transformational biotechnologies coming in the future. 1. Who would have guessed that by the end of the decade, what … Continue reading “Five Disruptive Biotech Ideas to Watch in the Coming Decade”
Tablet Fever: How Apple Could Go Where No Computer Maker Has Gone Before
After a steady crescendo over the last several years, the talk in the mediasphere about a new tablet computer from Apple has reached deafening proportions. With an actual product announcement now expected on January 27 (at least, according to the Wall Street Journal, which cites “sources in a position to know”), Apple may finally be … Continue reading “Tablet Fever: How Apple Could Go Where No Computer Maker Has Gone Before”
Achates Power Receives $7,075,000 Series B Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=0f87e918-df3d-47b1-89f9-cc4674a21419&Preview=1 Date 1/8/2010 Company Name Achates Power Mailing Address 4060 Sorrento Valley Boulevard San Diego, CA 92121 Company Description With a focus on first principles, the Achates Power team, consisting of carefully selected Engineers and Scientists from the world’s leading companies, places great emphasis on analytical modeling calibrated with empirical test results.To … Continue reading “Achates Power Receives $7,075,000 Series B Financing Round”
Prometheus Labs Gets $260M in Debt Financing
San Diego-based Prometheus Laboratories, which develops specialty pharmaceuticals and diagnostic tests, says today it has secured $260 million in financing that consists of a $210 million loan and a $50 million line of credit. The company says proceeds will be used to finance the acquisition of more therapeutic and diagnostic products, and to refinance existing … Continue reading “Prometheus Labs Gets $260M in Debt Financing”
Agreement Between Genzyme and San Diego Activist Shareholder Suggests Truce
In what may be a pre-emptive move to turn down the heat, beleaguered Genzyme (NASDAQ: [[ticker:GENZ]]) says today it has entered into a “mutual cooperation agreement” with Relational Investors, the $6 billion activist investment fund based in San Diego. The private investment firm began to acquire Genzyme shares in 2008, and Relational co-founder Ralph Whitworth … Continue reading “Agreement Between Genzyme and San Diego Activist Shareholder Suggests Truce”
Top Five Innovations to Watch in the Coming Decade
The next decade will see the realization of many of the buzzwords of the last decade. The combination of the information era, the biotechnology revolution, and materials breakthroughs will drive new medical and cleantech inventions that will change our lives. The future of innovation in the United States is promising at its core and we … Continue reading “Top Five Innovations to Watch in the Coming Decade”
Biogen Idec CEO Stepping Down, Ambrx Focuses on Empowered Antibodies, Intellikine Testing First Drug Candidate, & More San Diego Life Sciences News
San Diego’s biotech community got busy in the first week of 2010, with a flurry of news falling as heavily as a New England snowstorm. Better get your snow shovel. —James Mullen announced his plans to retire June 8 (at the tender age of 51) as CEO of Cambridge, MA-based Biogen Idec (NASDAQ: [[ticker:BIIB]]). Mullen … Continue reading “Biogen Idec CEO Stepping Down, Ambrx Focuses on Empowered Antibodies, Intellikine Testing First Drug Candidate, & More San Diego Life Sciences News”
Tysabri’s PML Count Climbs to 28, and Some Reflections From Biogen Idec’s Departing CEO
At least one more patient has been diagnosed with a rare, and potentially fatal brain infection after taking natalizumab (Tysabri), the hit drug for multiple sclerosis from Biogen Idec and Elan, according to Biogen CEO James Mullen. There are now 28 confirmed cases of patients with progressive multifocal leukoencephalopathy (PML) as of the last count … Continue reading “Tysabri’s PML Count Climbs to 28, and Some Reflections From Biogen Idec’s Departing CEO”
From VC to EDC: Venture Investor Dave Titus Joins San Diego’s Economic Development Corp.
Dave Titus, a co-founder and managing partner of San Diego VC firm Windward Ventures, notified his friends and colleagues in an e-mail blast yesterday that he’s joining the San Diego Regional Economic Development Corp. (EDC) as managing director of strategic initiatives. As it turns out, Titus has had some time on his hands. When we … Continue reading “From VC to EDC: Venture Investor Dave Titus Joins San Diego’s Economic Development Corp.”
Ambrx, Saying Thanks to its Rivals, Rides Wave of Interest in “Empowered” Antibodies
There’s no denying that Ambrx CEO Steve Kaldor is a competitor. Still, when I visited him in his San Diego office a few weeks ago, Kaldor was happy to tip his cap to a couple of trail-blazing competitors who have done a lot over the past year to make his life easier. Ambrx ended the … Continue reading “Ambrx, Saying Thanks to its Rivals, Rides Wave of Interest in “Empowered” Antibodies”
A Comparison of E-Book Readers for the New Year
Before any big trip, I always make sure I have enough books to read. That used to mean weighing myself down with pounds and pounds of paper, but now I can carry a library in my pocket. The new question is not which books to take, but which e-book reader to choose. Seattle-based Amazon.com’s Kindle … Continue reading “A Comparison of E-Book Readers for the New Year”
Five Biotechnologies That Will Fade Away This Decade
[Editor’s Note: This is part of a series of posts from Xconomists and other technology leaders from around the country who are weighing in with the Top 5 innovations they’ve seen in their respective fields the past 10 years, or the Top 5 disruptive technologies that will impact the next decade.] We look at amazement … Continue reading “Five Biotechnologies That Will Fade Away This Decade”
Coda Automotive Garners $25,000,000 Series C Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=dd19ece2-943d-4519-ab2a-9d181e978a13&Preview=1 Date 1/6/2010 Company Name Coda Automotive Mailing Address 1601 Wilshire Blvd Santa Monica, CA 90403 Company Description We were formed by a group of innovators, experts in their fields, motivated to solve some of today’s most pressing problems to leave a better world for their children. Our business model is unique. … Continue reading “Coda Automotive Garners $25,000,000 Series C Financing Round”
Gaikai Receives $5,000,000 Series D Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=70d767c0-7c53-43f0-b61e-c01183ce68f8&Preview=1 Date 1/6/2010 Company Name Gaikai Mailing Address 65 Enterprise Aliso Viejo, CA 92656 Company Description Gaikai is a revolutionary new technology that lets you play any game online in your browser. In the age of the cloud, when all your documents, email, photos and videos are instantly reachable online, it seems … Continue reading “Gaikai Receives $5,000,000 Series D Round”
The 12 Days of Xconomists: Leading Innovators Give Their Top Advances of the Past Decade
Over the last few weeks, as the holiday season heated up and the decade wound down, we reached out to our distinguished network of Xconomists—who include many of the top technologists, scientists, and business innovators in our three cities—and asked them (and a few more tech and life sciences leaders) to describe the most important … Continue reading “The 12 Days of Xconomists: Leading Innovators Give Their Top Advances of the Past Decade”
Consumer Electronics Show Offers Showcase for San Diego Tech Companies
[Corrected 1/5/10, 2:45 pm. See below.] “Connectivity” will be one of the prevailing themes at the annual International Consumer Electronics Show, according to analyst John F. Bright of the investment banking firm Avondale Partners. And several San Diego firms are poised to get connected at the show, which officially begins Thursday in Las Vegas. [Correction: … Continue reading “Consumer Electronics Show Offers Showcase for San Diego Tech Companies”
Dot Hill Buys Cloverleaf Communications
Dot Hill Systems (NASDAQ: [[ticker:HILL]]), which provides data storage equipment, says today it is buying Woodbury, NY-based Cloverleaf Communications, a privately held software developer. Dot Hill says the deal, which calls for issuing about $9.5 million in Dot Hill shares and $2.5 million in cash, will significantly broaden its capabilities in virtual data storage, data … Continue reading “Dot Hill Buys Cloverleaf Communications”
Intellikine Tests First Cancer Drug in Humans, Just Two Years After Opening Labs
Intellikine has only been cooking up new drugs in the laboratory for a little more than two years, and now its first candidate is being tested in human beings. The San Diego-based biotech dosed the first patient in a clinical trial of INK128 just before Christmas Day, says Intellikine CEO Troy Wilson. The experimental drug, … Continue reading “Intellikine Tests First Cancer Drug in Humans, Just Two Years After Opening Labs”
2010 Venture Capital Oscar Predictions
Even though Oscar buzz is not yet in the air, it is pretty clear what film titles will rule in 2010. So sit back, grab your popcorn…the envelopes please. Precious: The statuette goes to this film about the Greenback, which continues to be really hard to come by. The venture industry weathered a swift-yet-painful contraction … Continue reading “2010 Venture Capital Oscar Predictions”
ValenTx Receives $22,000,000 Series B Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=f5c50aad-bd11-4599-966a-f3976ed97611&Preview=1 Date 1/5/2010 Company Name ValenTx Mailing Address 200 Homedale Rd Carpinteria, CA 93013 Company Description The company is developing less invasive treatments for morbid obesity. Website http://www.valentx.com/ Transaction Type Venture Equity Transaction Amount $22,000,000 Transaction Round Series B Proceeds Purposes With this financing we will continue our Company’s development with the … Continue reading “ValenTx Receives $22,000,000 Series B Round”
Former Qualcomm Exec Named CEO of Color Printing Technology Developer
The other shoe dropped today with regard to Len J. Lauer, who announced his resignation before Christmas as Qualcomm’s chief operating officer, which is ostensibly the No. 2 executive post at the San Diego wireless giant. Lauer was named as the president and chief executive officer of Memjet, a privately held company developing innovative color … Continue reading “Former Qualcomm Exec Named CEO of Color Printing Technology Developer”
Biogen Idec CEO Jim Mullen Stepping Down, After Tumultuous Year of Shareholder Activism
[Updated 6:05 pm Eastern 1/4/10] Biogen Idec, the world’s largest maker of multiple sclerosis drugs and an anchor of Boston’s biotech cluster, is looking for a new CEO. The Cambridge, MA-based company (NASDAQ: [[ticker:BIIB]]) said today that longtime CEO James Mullen is stepping down on June 8, and also will be relinquishing his seat on … Continue reading “Biogen Idec CEO Jim Mullen Stepping Down, After Tumultuous Year of Shareholder Activism”
Sequenom Settles SensiGen Claims
San Diego-based Sequenom (NASDAQ: [[ticker:SQNM]]) disclosed in a regulatory filing it has issued 367,547 additional shares of its common stock, valued at $1.5 million, to settle claims stemming from its acquisition of Ann Arbor, MI-based SensiGen’s molecular diagnostic tests. Sequenom and SensiGen said last January the San Diego biotech was buying a variety of diagnostic … Continue reading “Sequenom Settles SensiGen Claims”
Adventrx Asks FDA to Approve Its Formulation of Anti-Cancer Drug
San Diego-based Adventrx Pharmaceuticals (AMEX: [[ticker:ANX]]), which reduced its workforce to just five executives and announced plans last March to “substantially end” its drug development and business operations, sprang back to life today. The company says it has submitted a new drug application, or NDA, to the Food and Drug Administration for ANX-530, a formulation … Continue reading “Adventrx Asks FDA to Approve Its Formulation of Anti-Cancer Drug”
M&A Liquidity Up, IPO Market Still Anemic: Fourth-Quarter Data on Venture Exits Is a Mixed Bag
It’s too early to say whether it’s the beginning of the end of the liquidity drought, or just the end of the beginning. But after seven straight quarters of declining IPO and M&A earnings for venture-backed U.S. companies, there was a ray of hope in the fourth quarter of 2009. Venture-backed firms raised $7.5 billion … Continue reading “M&A Liquidity Up, IPO Market Still Anemic: Fourth-Quarter Data on Venture Exits Is a Mixed Bag”