Category: San Diego

Canadian Consulate Helps San Diego’s Technology Companies Look Across the (Northern) Border—and Vice Versa

San Diego is a major border city, tourism destination, and convention hotspot, so it should come as no surprise that the U.S. State Department recognizes 25 consular representatives of foreign governments in this area. But with a handful of exceptions, nearly all of them are honorary positions with no regular office hours. Among the exceptions … Continue reading “Canadian Consulate Helps San Diego’s Technology Companies Look Across the (Northern) Border—and Vice Versa”

Quidel, Pulling Off a Turnaround, Predicts Record Profit on Demand for Flu Tests

Quidel’s woes from earlier this year look like ancient history now, thanks to surging worldwide demand for its quick diagnostic flu tests. The San Diego-based company said today that it expects to eclipse its quarterly sales and profit records as health officials stock up in anticipation of a worsening global flu pandemic. Quidel (NASDAQ: [[ticker:QDEL]]) … Continue reading “Quidel, Pulling Off a Turnaround, Predicts Record Profit on Demand for Flu Tests”

MaxLinear Advances Chips for TV

MaxLinear, a Carlsbad, CA, fabless semiconductor company developing broadband radio-frequency designs that enable TV on any device, is introducing two tuner-and-demodulator designs that provide a single-chip solution for all terrestrial TV applications. In a related announcement, MaxLinear says its MxL101SF design was selected by Sigma Designs for its latest hybrid set top box, which combines … Continue reading “MaxLinear Advances Chips for TV”

Arena Prepares to Release Big Obesity Study, Minnow Medical Goes Into ‘Commercialization Mode,’ Metabasis Hires Strategic Adviser, & More San Diego Life Sciences News

Arena Pharmaceuticals (NASDAQ: [[ticker:ARNA]]) plans to announce results of a 4,000-patient clinical trial of its obesity drug lorcaserin this month. But Northern California rival Vivus (NASDAQ: [[ticker:VVUS]]) announced results of its own obesity drug first. Get the skinny on all this and the rest of San Diego’s life sciences news. —San Diego’s Arena Pharmaceuticals is … Continue reading “Arena Prepares to Release Big Obesity Study, Minnow Medical Goes Into ‘Commercialization Mode,’ Metabasis Hires Strategic Adviser, & More San Diego Life Sciences News”

Ambit Biosciences, In Third Incarnation, Gears Up for Pivotal Study of Leukemia Drug

Biotech companies run into walls all the time, and either reinvent themselves or die. If they’re fortunate, they get one shot at a turnaround. San Diego-based Ambit Biosciences is getting a third chance, and this time it has some hard data, not just a flashy concept, to offer. Ambit got started in May 2000, just … Continue reading “Ambit Biosciences, In Third Incarnation, Gears Up for Pivotal Study of Leukemia Drug”

San Diego’s EvoNexus Incubator Selects First Gaggle of Fledgling Startups

EvoNexus, the non-profit incubator launched in San Diego three months ago, has selected its inaugural group of new technology companies to be hatched. Cathy Pucher, the incubator’s executive director, tells me the first clutch of startups getting support from EvoNexus were culled from about 45 applicants. The contenders came from a surprisingly diverse number of … Continue reading “San Diego’s EvoNexus Incubator Selects First Gaggle of Fledgling Startups”

OptionEase Obtains $1,000,000 Series A Funding Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=2b067dc8-8cc0-4347-b716-84f98ef80162&Preview=1 Date 9/10/2009 Company Name OptionEase Mailing Address 31351 Rancho Viejo Road San Juan Capistrano, CA 92675 Company Description OptionEase is a comprehensive Software as a Service (SaaS), which satisfies all audit requirements regarding FAS 123(R) – Accounting for Employee Stock Options. The OptionEase web based system is credible and flexible enough … Continue reading “OptionEase Obtains $1,000,000 Series A Funding Round”

Calling All WordPress/PHP/Apache/Linux Gurus—Particularly the Ones With Pagers

As we’ve grown Xconomy.com over the last few years, we’ve prided ourselves on keeping our operations lean and mean, in no small part by making the most of DIY technologies and virtual working arrangements. But every once in a while—say when a bitchy little worm wiggles its way through WordPress sites across the Web—we’re reminded … Continue reading “Calling All WordPress/PHP/Apache/Linux Gurus—Particularly the Ones With Pagers”

Anadys Starts Hep C Trial

San Diego-based Anadys Pharmaceuticals (NASDAQ: [[ticker:ANDS]]) said today it has started a mid-stage clinical trial of its lead drug candidate, ANA598, for patients with hepatitis C. The study will enroll 90 patients on the drug or a placebo, in combination with the standard treatments—pegylated interferon alpha and ribavirin. Initial results on the anti-viral activity of … Continue reading “Anadys Starts Hep C Trial”

Vivus, Rival to Arena and Orexigen, Nails Big Results in Clinical Trials of Obesity Drug

The obesity drug competition just got tougher for a pair of San Diego-based companies. Shares of Mountain View, CA-based Vivus (NASDAQ: [[ticker:VVUS]]) shot up this morning after it said its experimental obesity drug helped people lose a substantial amount of weight in a pair of clinical trials with more than 3,750 patients. Vivus reported the … Continue reading “Vivus, Rival to Arena and Orexigen, Nails Big Results in Clinical Trials of Obesity Drug”

Targeted Genetics Survives Brush With Death, Sells Gene Therapy IP to Genzyme for $7M

Targeted Genetics needed a lifeline and it got one at the last possible minute. The Seattle-based mainstay of gene therapy, which has been running on fumes for months, has struck an 11th-hour deal to stay alive another year by selling off its most valuable intellectual property for $7 million to Genzyme (NASDAQ: [[ticker:GENZ]]). Many of … Continue reading “Targeted Genetics Survives Brush With Death, Sells Gene Therapy IP to Genzyme for $7M”

Minnow Medical Aims to Commercialize Improved Device for Treating Peripheral Artery Disease

Tom Steinke says he founded San Diego’s Minnow Medical out of an abiding conviction of the limitations of the medical stent, a mesh tube inserted in arteries to help prop open clogged blood vessels. Steinke came to this view after spending 20 years developing medical devices in the cardiovascular industry. His previous startup was San … Continue reading “Minnow Medical Aims to Commercialize Improved Device for Treating Peripheral Artery Disease”

Riot Games Obtains $8,000,000 Series B Funding

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=670999c2-e67a-45bf-8b3c-c01968727a5e&Preview=1 Date 9/9/2009 Company Name Riot Games Mailing Address P.O. Box: 10736 Jefferson Blvd. Culver City, CA 90230 Company Description Riot Games Inc., founded in 2006, is an independently funded video game development company headquartered in Los Angeles, California. Website http://www.riotgames.com Transaction Type Venture Equity Transaction Amount $8,000,000 Transaction Round Series B … Continue reading “Riot Games Obtains $8,000,000 Series B Funding”

San Diego’s Sapphire Energy Plans Bio-Refinery in New Mexico as ‘Algaeus’ Begins Promotional Cross-Country Tour

I got a phone call from Tim Zenk, a spokesman for San Diego-based Sapphire Energy, shortly before the hoopla began this afternoon in San Francisco, where a Toyota Prius hybrid electric car is setting out on an eco-friendly cross-country tour. Instead of using conventional gasoline, the Prius (which has been christened “Algaeus”) will use a … Continue reading “San Diego’s Sapphire Energy Plans Bio-Refinery in New Mexico as ‘Algaeus’ Begins Promotional Cross-Country Tour”

San Diego Venture Group’s Seventh Annual Venture Summit

Former SEC Chairman Christopher Cox kicks off the venture group’s annual venture summit with a luncheon keynote speech in what is believed to be the largest gathering of VCs in Southern California. Afterward, attendees can choose between afternoon sessions that focus either on the life sciences or technology. Information and online registration is here.

In Challenge for Emerging Netbook Market, Qualcomm Moves From Smart Phones to Smartbooks

As interest builds in the coming introduction of new wireless netbooks, Qualcomm CEO Paul Jacobs tells the San Diego Union-Tribune that many netbooks based on Qualcomm’s Snapdragon processor also will include Qualcomm’s MediaFLO, the company’s satellite-based TV broadcast for mobile devices. In an interview with the newspaper’s editorial board, Jacobs says the new line of … Continue reading “In Challenge for Emerging Netbook Market, Qualcomm Moves From Smart Phones to Smartbooks”

Mission Ventures’ Leo Spiegel Senses an Uptick in VC Activity, SAIC Plays Crucial Role in Cyber Security, DivX Buys AnySource, & More San Diego BizTech News

While there was a bit of a lull among San Diego’s hardware and software companies last week, Mission Ventures’ Leo Spiegel told me venture activity in the sector seems to be picking up. Our news summary begins now. —Mission Ventures managing partner Leo Spiegel told me he’s “cautiously optimistic” about a resumption in venture investment … Continue reading “Mission Ventures’ Leo Spiegel Senses an Uptick in VC Activity, SAIC Plays Crucial Role in Cyber Security, DivX Buys AnySource, & More San Diego BizTech News”

Arena Eagerly Awaits Answer to $1 Billion Question: Does It Have a Big-Time Obesity Drug?

San Diego-based Arena Pharmaceuticals has spent a dozen years, and raised almost $1 billion from investors and partners, to create a new drug that helps millions of people lose weight. This month, the company will find out whether the time and money was well spent. Arena (NASDAQ: [[ticker:ARNA]]) plans to unveil results of a 4,008-patient … Continue reading “Arena Eagerly Awaits Answer to $1 Billion Question: Does It Have a Big-Time Obesity Drug?”

ValenTx Secures $22,000,000 Series B Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=b9d5b223-0000-47ce-93c6-eeb8d7b45ce3&Preview=1 Date 9/8/2009 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 Proceeds purposes were not disclosed. M&A Terms Venture Investor SV Life … Continue reading “ValenTx Secures $22,000,000 Series B Round”

Biogen Idec Makes Hostile $350M Takeover Bid for Facet Biotech

Biogen Idec isn’t sitting around waiting to get acquired—it wants to be the acquirer. The Cambridge, MA-based biotech company said today it is making an unsolicited bid worth more than $350 million to acquire Redwood City, CA-based Facet Biotech, its partner in developing a new antibody drug for multiple sclerosis. Biogen Idec (NASDAQ: [[ticker:BIIB]]) is … Continue reading “Biogen Idec Makes Hostile $350M Takeover Bid for Facet Biotech”

Elan Breached Tysabri Partnership With Biogen Idec, Federal Judge Says

Irish drugmaker Elan breached its multiple sclerosis drug partnership with Biogen Idec when it tried to cut a separate deal to collaborate with Johnson & Johnson, according to a federal judge. Elan, which made the announcement last night, said it respects the decision of the U.S. District Court for the Southern District of New York. … Continue reading “Elan Breached Tysabri Partnership With Biogen Idec, Federal Judge Says”

San Diego Inventor’s Drug Discovery is Nothing to Laugh (or Cry) About

[Corrected 9/4/09, 12:25 am. See below.] Avanir Pharmaceuticals (NASDAQ: [[ticker:AVNR]]) announcement last month that its drug DMQ reduced involuntary fits of laughter and crying in neurological patients came as welcome news to San Diego scientist Richard A. Smith. It was Smith who made the serendipitous discovery more than a decade ago that DMQ—a combination of … Continue reading “San Diego Inventor’s Drug Discovery is Nothing to Laugh (or Cry) About”

Seven Projects to Stretch Your Digital Wings: Part One

I love September. There’s a back-to-school crispness in the air that always gets me jazzed to learn something new, even though I’ve been out of school for 15 years. Maybe you feel it too. And with a long holiday weekend coming up, perhaps you’ve got a few hours free to experiment with a new tool … Continue reading “Seven Projects to Stretch Your Digital Wings: Part One”

San Diego’s SAIC Emerging as Key Player in Nation’s Cyber-Security Battle

In financial results issued late yesterday, San Diego defense contractor SAIC attributed its increased second-quarter revenue and earnings to “recent wins in defense logistics, information technology, and cyber-security,” among other things. That last part about cyber security may be an understatement, based on a conversation I had last night with Alan Paller. As a founder … Continue reading “San Diego’s SAIC Emerging as Key Player in Nation’s Cyber-Security Battle”

Finding HIV’s Weak Spot, Scientists at Seattle’s Theraclone and San Diego’s Scripps See Opening for New Vaccine

Scientists have been trying for years to solve the mystery of why a few rare individuals get infected with HIV, yet somehow retain immune defenses so they never get sick. Today, researchers at a small Seattle biotech company, Theraclone Sciences, and collaborators at San Diego’s Scripps Research Institute say they have found a new vulnerability … Continue reading “Finding HIV’s Weak Spot, Scientists at Seattle’s Theraclone and San Diego’s Scripps See Opening for New Vaccine”

Ailing Metabasis Hires Advisory Firm

San Diego’s Metabasis Therapeutics (NASDAQ: [[ticker:MBRX]]), which warned in May that it might have to cease operations, says it has hired a financial advisory firm to help the company evaluate its strategic options. Metabasis said earlier this week that Mark Erion, the company’s CEO, chief scientific officer, and director, has resigned to join Merck & … Continue reading “Ailing Metabasis Hires Advisory Firm”

Acadia Takes a Fall, CareFusion Spins Off, Life Technologies Takes $450M in Cash, & More San Diego Life Sciences News

CareFusion, a medical technology company, got its official start earlier this week and is already one of the largest companies in San Diego, with 15,000 employees and $3.7 billion in annual revenue. Find out how that happened and read up on other local biotech news. —Shares of San Diego’s Acadia Pharmaceuticals (NASDAQ: [[ticker:ACAD]]), which had … Continue reading “Acadia Takes a Fall, CareFusion Spins Off, Life Technologies Takes $450M in Cash, & More San Diego Life Sciences News”

Abbott Laboratories Acquires Visiogen for $400,000,000

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=4853dbb9-0cae-4ff6-a108-7f55e4780dc3&Preview=1 Date 9/3/2009 Company Name Visiogen Mailing Address 2 Goodyear Irvine, CA 92618 Company Description Visiogen, Inc. is focused on developing innovative products for cataract and refractive patients. Founded in Irvine, California, in 2001, Visiogen’s first commercial application, Synchrony®, a dual-optic intraocular lens and pre-loaded injector, is currently in clinical studies in … Continue reading “Abbott Laboratories Acquires Visiogen for $400,000,000”

MabVax Raising $4 Million

MabVax Therapeutics, a San Diego biotech developing novel vaccines and human antibodies for the treatment of cancer, plans to raise $4 million from investors, according to a recent filing with the Securities and Exchange Commission. The company, which has raised about $500,000 so far, was founded in 2006 to develop polyvalent versions of existing monovalent … Continue reading “MabVax Raising $4 Million”

As Startup Considers IPO, Mission Ventures’ Leo Spiegel Sees End to San Diego’s VC Lockdown

Leo Spiegel says he’s sensing a change in San Diego’s listless venture capital sector. Spiegel quickly adds that he doesn’t have the data to back it up. It’s just a feeling he has, a sailor’s instinct for a freshening breeze in the horse latitudes. Yet as a managing partner at San Diego’s Mission Ventures, Spiegel’s … Continue reading “As Startup Considers IPO, Mission Ventures’ Leo Spiegel Sees End to San Diego’s VC Lockdown”

Life Technologies to Get $450M for Business Stake

Carlsbad, CA-based Life Technologies (NASDAQ:[[ticker:LIFE]]) said today that it plans to sell its stake in its mass spectrometry business to Danaher (NYSE:[[ticker:DHR]]) for $450 million in cash. Danaher, based in Washington, D.C., has also agreed to buy the company with which Life Technologies jointly owns the business, MDS Analytical Technologies, headquartered in Ontario, Canada. Life … Continue reading “Life Technologies to Get $450M for Business Stake”

Orexigen Aims to Redefine Obesity, as Amgen Vet Revamps Company to Compete

San Diego’s Orexigen Therapeutics looked like just another biotech on the verge of collapse at the beginning of the year. Its CEO was diagnosed with a terminal case of leukemia and soon died. Three other senior executives had just quit. The company halted development of two experimental drugs to conserve cash. Orexigen (NASDAQ: [[ticker:OREX]]) sought … Continue reading “Orexigen Aims to Redefine Obesity, as Amgen Vet Revamps Company to Compete”

BrightScope Garners $2,000,000 Series B Funding Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=b89d7aaf-c7c9-4e11-b53b-a95e861353ae&Preview=1 Date 9/2/2009 Company Name BrightScope Mailing Address Undisclosed San Diego, 92121 Company Description BrightScopeTM, Inc. is an independent provider of 401k ratings and financial intelligence to plan sponsors, advisors, and participants in all 50 states. Our mission is to increase the retirement security of America’s workforce by bringing transparency and efficiency … Continue reading “BrightScope Garners $2,000,000 Series B Funding Round”

DivX Gets Internet TV Technology

San Diego digital media company DivX (NASDAQ: [[ticker:DIVX]]) says it has acquired AnySource Media, a Malvern, PA-based developer of Internet television streaming technology that enables users to connect their TV to Internet-based content and services. The deal could be valued up to $15 million, with $7.5 million paid in cash upfront and another $7.5 million … Continue reading “DivX Gets Internet TV Technology”

Acadia Pharma Shares Crash After Lead Parkinson’s Drug Fails in Trial

San Diego-based Acadia Pharmaceuticals stock price collapsed today on news that its drug for psychosis related to Parkinson’s disease failed in a late-stage clinical trial. It’s a big setback for the small firm because it has no products on the market, and the Parkinson’s drug was the candidate furthest along in its development pipeline. The … Continue reading “Acadia Pharma Shares Crash After Lead Parkinson’s Drug Fails in Trial”

Healthcare Venture Funding Goes to Medsphere, Aubrey, and Animal Cell Therapies—A Brief Roundup

If new venture rounds are any indication, the life sciences sector is showing renewed signs of life, with several startups raising capital in the San Diego region, according to recent filings with the U.S. Securities and Exchange Commission. Industry watchers are expecting healthcare IT, in particular, to heat up as the federal government’s carrot-and-stick approach … Continue reading “Healthcare Venture Funding Goes to Medsphere, Aubrey, and Animal Cell Therapies—A Brief Roundup”

San Diego’s Palkion Chases Amgen’s Big Market, Joins Race to Develop Oral Anemia Drug

Amgen’s big break came in the 1980s when it learned how to stimulate the body to make more oxygen-carrying red blood cells. Nobody has topped this achievement for the treatment of anemia in the past 20 years. But now San Diego’s Palkion has joined a list of competitors that hope to capture some billions of … Continue reading “San Diego’s Palkion Chases Amgen’s Big Market, Joins Race to Develop Oral Anemia Drug”

San Diego’s Medical Technology Startups Get Reborn in CareFusion Spinoff

San Diego has long been known as an incubator for new technology companies. But as the hometown for established Fortune 500 companies, San Diego is barely on the map. You can count San Diego’s Fortune 500 companies on three fingers: Qualcomm (at No. 244), Sempra Energy (No. 252), and SAIC (No. 266). This is because … Continue reading “San Diego’s Medical Technology Startups Get Reborn in CareFusion Spinoff”

Semiconductor Startups Get Squeezed, TheFunded Founder Institute Expanding Worldwide, Algae-Based Biofuels Startups Multiply, & More San Diego BizTech News

At a time when semiconductor startups seem to be an endangered species, San Diego’s cleantech sector continues to show unusually strong growth. Get the lowdown on that and more. —The shutdown of San Diego’s Sequoia Communications is a sign of broader problems that are making it harder to build new fabless semiconductor design companies, according … Continue reading “Semiconductor Startups Get Squeezed, TheFunded Founder Institute Expanding Worldwide, Algae-Based Biofuels Startups Multiply, & More San Diego BizTech News”

Fallbrook Aims to Mow Down Market With Hydro-Gear Licensing Deal

San Diego’s Fallbrook Technologies says it has struck a deal for what is literally a “greenfield” application of its NuVinci continuously variable transmission. The venture-backed company, which has been steadily expanding the market for its transmission technology, has signed a licensing agreement with Hydro-Gear of Sullivan, IL, a leading maker of drive systems for lawnmowers … Continue reading “Fallbrook Aims to Mow Down Market With Hydro-Gear Licensing Deal”

How to Build a Billion-Dollar Company (And Keep An Academic Day Job), According to David Walt

Anyone compiling a list of the most successful life sciences entrepreneurs of the past decade would have to consider a soft-spoken academic named David Walt. He’s the chemistry professor at Medford, MA-based Tufts University who co-founded Illumina in 1998. San Diego-based Illumina (NASDAQ: [[ticker:ILMN]]) found its niche in the past decade by boosting the efficiency … Continue reading “How to Build a Billion-Dollar Company (And Keep An Academic Day Job), According to David Walt”

Medsphere Systems Corporation Secures $12,000,000 New Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=96250d33-bb03-47f5-abbd-f64894a38d01&Preview=1 Date 8/31/2009 Company Name Medsphere Systems Corporation Mailing Address 1917 Palomar Oaks Way Carlsbad, CA 92008 Company Description Medsphere Systems Corporation is the leading provider of OpenVista, a fully integrated Electronic Health Record (EHR). Website http://www.medsphere.com. Transaction Type Venture Equity Transaction Amount $12,000,000 Transaction Round Undisclosed Proceeds Purposes Proceeds purposes were … Continue reading “Medsphere Systems Corporation Secures $12,000,000 New Round”

Biocom Roundtable with State Sen. Denise Ducheny

Biocom, the non-profit trade association for San Diego’s life sciences industry, has organized a legislative roundtable discussion with State Sen. Denise Ducheny, whose 40th District includes Imperial County, and portions of San Diego and Riverside Counties. Sen. Ducheny chairs the Senate Budget and Fiscal Review Committee, the Joint Legislative Budget Committee, the Select Committees on … Continue reading “Biocom Roundtable with State Sen. Denise Ducheny”

Calling All Angels

Angel investments are becoming an increasingly important component of the startup capital structure. The San Diego chapter of the Tech Coast Angels has organized an information session for individuals making or considering investments in technology startups. San Diego TCA President Mike Elconin, Vice President Steve Flaim, and board member Jack Florio will discuss what it … Continue reading “Calling All Angels”

Restructuring for Success

Many companies that have survived the downturn are laden with debt, leaving them at a competitive disadvantage and less able to compete as the economy turns around. This presentation by Mintz Levin partner Jeff Davis and associate Joseph Dunn addresses strategies for restructuring debt to improve your company’s balance sheet and cash flow. Networking and … Continue reading “Restructuring for Success”

Whose Intellectual Property Is This Anyway?

Many companies, even those that are considered savvy about protecting their technology, have hidden ownership problems that cloud their valuable intellectual property rights. Finding and addressing these problems is not difficult, but such issues can be devastating if they go undiscovered. Connect has organized this event with the help of lawyers from the San Diego … Continue reading “Whose Intellectual Property Is This Anyway?”

The Future of Internet TV, Hosted by DivX CEO Kevin Hell

Join DivX CEO Kevin Hell on a journey of discovery as he explores how television’s role as a multimedia access platform will grow with Internet connections that link to online content. As Internet-connected high definition TVs and consumer electronics go mainstream, new opportunities will emerge. Networking and online registration begin at 7:30 a.m., or you … Continue reading “The Future of Internet TV, Hosted by DivX CEO Kevin Hell”