Biogen Idec, as avid biotech readers know, is the world’s largest maker of multiple sclerosis drugs. Not the world’s largest maker of cancer drugs. Not even close. Yet the Cambridge, MA-based biotech company (NASDAQ: [[ticker:BIIB]]) has its sights on carving out a bigger niche in the fiercely competitive field of cancer drug development. It’s a … Continue reading “Biogen Idec, Trying to Go Beyond Rituxan, Assembles Cancer Drug Pipeline”
Category: San Diego
America Stem Cell Receives $2,500,000 New Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=848ccc91-83e9-4f9f-8089-844f103f6c30&Preview=1 Date 7/16/2009 Company Name America Stem Cell Mailing Address 135 Chinquapin Avenue Carlsbad, CA 92008 Company Description America Stem Cell, Inc. (ASC) is a privately held biotechnology company dedicated to the development and commercialization of enabling technologies to enhance and expand the therapeutic potential of stem cell transplants. The Company is … Continue reading “America Stem Cell Receives $2,500,000 New Financing”
Philips Acquires InnerCool, San Diego Startup That’s Run Hot and Cold
Royal Philips (NYSE: [[ticker:PHG]]), the Dutch conglomerate, says today it has agreed to acquire the assets of InnerCool Therapies, a once-hot San Diego medical device startup, in a deal with an overall value of $12.75 million. InnerCool was founded in 1998 and raised about $50 million from Kleiner Perkins Caufield and Byers, Credit Suisse First … Continue reading “Philips Acquires InnerCool, San Diego Startup That’s Run Hot and Cold”
Early View of Second Quarter Shows VC Investing Activity at $5.3B, Up 61 Percent
We got an early peek at second-quarter VC investing today from ChubbyBrain, a New York-based information service (and new Xconomy partner) that uses a “structured wiki” to collect data on startups, and monitors venture capital investments nationwide. ChubbyBrain says venture activity bounced back, with more than $5.3 billion invested during the three months that ended in … Continue reading “Early View of Second Quarter Shows VC Investing Activity at $5.3B, Up 61 Percent”
Location-Aware Apps On The Rise, But Many Are Cookie-Cutter ‘Bulk Apps,’ Report Finds
Not surprisingly, given the rush among handset makers and software developers to cash in on the mobile-software explosion, there’s a been a big uptick in the availability of mobile apps that make use of location information, according to a report published today by Boston’s Skyhook Wireless. That’s true not just for the Apple iPhone, but … Continue reading “Location-Aware Apps On The Rise, But Many Are Cookie-Cutter ‘Bulk Apps,’ Report Finds”
Quasar Unveils Innovative Sensors for Detecting Subsea Oil and Gas Deposits
In its quest to discover new offshore oil and gas deposits, the petroleum industry has achieved some extraordinary technology innovations. Seismic surveys, which collect data about subsea rock formations by bouncing sound waves off the ocean bottom, have become increasingly sophisticated. With advances in sensors, software algorithms, and high-performance computer processing, such surveys have enabled … Continue reading “Quasar Unveils Innovative Sensors for Detecting Subsea Oil and Gas Deposits”
Canceled Buyout Snatches Victory From Victory Pharma’s Investors
Victory is not yet in sight for San Diego’s Victory Pharma, a specialty drug company focused on pain relievers. A Japanese drug marketer backed out of a $150-million deal to acquire Victory this week, leaving the San Diego pain specialist in need of solace and a new game plan. Sciele Pharma said in a press release that … Continue reading “Canceled Buyout Snatches Victory From Victory Pharma’s Investors”
Covario Service Ranks Websites’ SEO
San Diego-based Covario, the software analytics startup that specializes in search engine optimization, or SEO, is introducing new software-as-a-service that poses a direct challenge to web development agencies. The company says their program automates the process of analyzing web traffic at a customer’s corporate website, a time-consuming job often performed by agencies. Covario’s program scores a … Continue reading “Covario Service Ranks Websites’ SEO”
Pathway Genomics Secures Series A Funding Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=3e4ee528-3e63-42e2-aa4a-8c6639975848&Preview=1 Date 7/15/2009 Company Name Pathway Genomics Mailing Address 4045 Sorrento Valley Blvd. San Diego, CA 92121 Company Description Pathway Genomics is a privately-held, venture-backed company that offers affordable, personal DNA genotyping tests for less than $250. As the only U.S. based direct-to-consumer genetic testing company to receive both California and federal … Continue reading “Pathway Genomics Secures Series A Funding Round”
Synthetic Genomics to Build Algae Biofuels Facility in San Diego
The $600 million that ExxonMobil is investing to develop algae-based biofuels, including at least $300 million through its partnership with San Diego’s Synthetic Genomics, represents the largest single investment in the emerging technology, according to J. Craig Venter, Synthetic Genomics’ founding CEO. Venter and Emil Jacobs, a vice president at ExxonMobil Research and Engineering, discussed … Continue reading “Synthetic Genomics to Build Algae Biofuels Facility in San Diego”
The Medium is the Message as VoxOx Unifies, Updates Communications Services
San Diego’s TelCentris is announcing an upgrade to its VoxOx universal communicator service that includes a personal assistant feature, a virtual service that can answer your phone calls and route them according to your personal preferences. With the technology, you can direct phone calls from a family phone to reach you on your cell phone, … Continue reading “The Medium is the Message as VoxOx Unifies, Updates Communications Services”
ExxonMobil Makes $600 Million Bet on Biofuels—And Synthetic Genomics
J. Craig Venter, the maverick co-founder of San Diego’s Synthetic Genomics, has been hinting that the company had a huge funding announcement in the works—and tonight The New York Times has the story on its website. The newspaper says ExxonMobil has laid plans to invest $600 million or more in the development of renewable, algae-derived … Continue reading “ExxonMobil Makes $600 Million Bet on Biofuels—And Synthetic Genomics”
Cymer Shrinks Chip Circuitry
In a major step toward making microcircuits just 10-nanometers apart, San Diego’s Cymer (NASDAQ: [[ticker:CYMI]]) says it has shipped its first laser-produced plasma (LPP) extreme ultraviolet laser machine to ASML in The Netherlands. Cymer says ASML will use the machine in development and testing of its next generation extreme ultraviolet (EUV) lithography scanners. Cymer says … Continue reading “Cymer Shrinks Chip Circuitry”
A Green Confab: The 3rd Annual Algae Biomass Summit
The Algal Biomass Organization, which promotes the development of viable commercial markets for renewable and sustainable biofuels and other algae-based commodities, is hosting its 3rd Annual Algae Biomass Summit in downtown San Diego. The keynote speaker is J. Craig Venter, the human genome pioneer and co-founder of San Diego’s Synthetic Genomics and the Maryland-based J. … Continue reading “A Green Confab: The 3rd Annual Algae Biomass Summit”
VC Fundraising Engine Stalled, Q2 Venture Fund Closings Hit 13-year Low
Could it be the nadir of this recession for the venture capital industry? U.S. venture firms closed the fewest number of funds since the mid-1990s in the second quarter of 2009, according to a study released today. The 63.1-percent decline in quarterly VC fundraising indicated in the study is further evidence that the venture industry … Continue reading “VC Fundraising Engine Stalled, Q2 Venture Fund Closings Hit 13-year Low”
EcoDog’s Home Energy Monitoring Product Sniffs Out Energy Savings
Fido just might be a homeowner’s new best friend. The watchdog in question isn’t a vigilant Doberman or German Shepard, but rather the flagship product of EcoDog, a home energy-monitoring start-up based in Vista, CA. The device connects to a home circuit breaker and delivers real-time information on the home’s energy usage. One nifty aspect … Continue reading “EcoDog’s Home Energy Monitoring Product Sniffs Out Energy Savings”
Japan’s DoCoMo Acquires Stake in PacketVideo, Helix Wind Advances Business, General Atomics to Build Hybrid-Electric Prototype, & More San Diego BizTech News
Amid fresh signs of concern for venture capital in San Diego, we saw some local technology startups take big risks to push their business forward. Our wrap-up of the week’s innovation news begins now. —The largest wireless communications provider in Japan, NTT DoCoMo, invested $45.5 million to acquire a 35 percent stake in PacketVideo, the … Continue reading “Japan’s DoCoMo Acquires Stake in PacketVideo, Helix Wind Advances Business, General Atomics to Build Hybrid-Electric Prototype, & More San Diego BizTech News”
But Wait There’s More! Act Now And Sharpen Your Sales Skills
The San Diego Software Industry Council has organized a seminar to make your sales skills sharper than a Cutco paring knife. The seminar is led by Peter J. Boylan III, Executive Vice President of Sales at NTN Buzztime Inc. in Carlsbad. Online information and registration is here.
The Future of Successful Investment in Biotech
San Diego Venture Group has organized a panel discussion on the future of investing in biotech startups. Pockets of resources are emerging around the world in an effort to fundamentally change drug development and healthcare strategy. The panel, moderated by Venrock partner William Rastetter, includes Frazier Healthcare partner Bob Moore, Lilly Ventures Managing Director Edward … Continue reading “The Future of Successful Investment in Biotech”
Biocom Lunch with State Senator Denise Ducheny
Denise Ducheny, D-San Diego, has served in the California State Senate since 2002. Sen. Duchney represents the 40th District, which includes portions of San Diego and Riverside Counties and all of Imperial County. She chairs the Senate Budget and Fiscal Review Committee, the Joint Legislative Budget Committee, the Select Committees on California-Mexico Cooperation and the … Continue reading “Biocom Lunch with State Senator Denise Ducheny”
Induced Pluripotent Stem Cells and You
The San Diego Biotechnology Network has organized a presentation by Dan Shoemaker, the chief technology officer at Fate Therapeutics, and Stephen Chang, the chief scientific officer of Stemgent. They will give a short talk on the industrialization of advanced technology for drug discovery and development based on induced pluripotent stem cells. More information and online … Continue reading “Induced Pluripotent Stem Cells and You”
Midway Games Closing SD Studio
The Chicago-based maker of “Mortal Kombat” has given its San Diego video design studio 60 days to live, according to The San Diego Union-Tribune. Midway Games, which filed for bankruptcy reorganization in February, sold the bulk of its assets for $33 million earlier this month to Warner Brothers Entertainment. Warner Brother’s acquisition included development studios in … Continue reading “Midway Games Closing SD Studio”
Helixis Raises $5.5M
Helixis, a Carlsbad, CA, biomedical diagnostics startup founded in 2007, has raised $5.5 million in a secondary round that aims to total $6.5 million in venture funding, according to a report in PE Hub. The company says it was created to make advanced molecular diagnostic products more accessible for critical medical and scientific use. Domain Associates, Advanced Technology … Continue reading “Helixis Raises $5.5M”
Personal Podcasting with AudioBoo, UK’s “Twitter for Voice”
The human voice is making a comeback. For a while, it looked like e-mail, instant messaging, blogs, RSS, and all of the Internet’s other texty goodness might permanently eclipse the old-fashioned phone call and other voice-driven forms of communication. Even the spread of cell phones hasn’t halted the tide of text—more than a third of … Continue reading “Personal Podcasting with AudioBoo, UK’s “Twitter for Voice””
General Atomics to Build a Prototype for Hybrid-Electric Prius of the Seas
Saving money on fuel by developing new types of hybrid engines is not just the pursuit of automakers any more. Under a government contract awarded earlier this week, San Diego’s General Atomics is developing a new hybrid electric drive system for a U.S. Navy warship. “I think it has huge potential,” says Carl Fisher, who … Continue reading “General Atomics to Build a Prototype for Hybrid-Electric Prius of the Seas”
Helixis Secures $5,500,000 New Funding
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=32bea0ac-73ef-46cf-b141-5b5a5c15220e&Preview=1 Date 7/10/2009 Company Name Helixis Mailing Address 5421 Avenida Encinas Carlsbad, CA 92008 Company Description Diagnostics tools for molecular analysis are critical to modern life science and medicine, but are still primitive in form and function. Helixis is developing an entirely new class of advanced molecular diagnostic products that will bring … Continue reading “Helixis Secures $5,500,000 New Funding”
Scoperta Lands $1,400,000 New Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=c2594c6b-bcfb-4cea-b67f-88adda6ab7dd&Preview=1 Date 7/10/2009 Company Name Scoperta Mailing Address Undisclosed San Diego, CA 92131 Company Description The company develops fabless specialty steel technologies. Website http://www.scopertaexpo.com/ Transaction Type Venture Equity Transaction Amount $1,400,000 Transaction Round Undisclosed Proceeds Purposes Proceeds purposes were not disclosed. M&A Terms Venture Investor Enterprise Partners Venture Capital
GumGum Receives $2,600,000 Series A Funding
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=4c59d5cb-526f-4300-bb4b-8c01f92a07f5&Preview=1 Date 7/10/2009 Company Name GumGum Mailing Address 225 Santa Monica Blvd. Santa Monica, CA 90401 Company Description GumGum is a licensing and distribution platform for online content. We believe paying a flat rate to license content for online use is illogical. Offline, the flat rate model works because distribution is finite. … Continue reading “GumGum Receives $2,600,000 Series A Funding”
Emergent Game Technologies Receives $14,000,000 New Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=44499f1f-3d9e-40eb-ad26-9d4c7e8e797c&Preview=1 Date 7/10/2009 Company Name Emergent Game Technologies Mailing Address 5016 North Parkway Calabasas Calabasas, CA 91302 Company Description Emergent Game Technologies is the single source for all the tools required to build, test, manage and expand interactive games. Emergent was founded in 2000 and merged with NDL, the company that created … Continue reading “Emergent Game Technologies Receives $14,000,000 New Financing Round”
TorreyPines Delays its Dissolution
What if a company called a special shareholder meeting and nobody voted? Executives at San Diego’s TorreyPines Therapeutics pondered the question today after failing to muster enough votes for a proposal to liquidate and dissolve the company. In a statement, TorreyPines said 62 percent of the biotech’s stockholders failed to vote on the issue, which the … Continue reading “TorreyPines Delays its Dissolution”
Nexus Biosystems Raises $5M
Nexus Biosystems, a four-year-old biotech tools maker in Poway, CA, has raised $5 million in venture funding from Telegraph Hill Partners, a private equity firm based in San Francisco, according to a regulatory filing. Nexus CEO John Lillig, who declined to comment on the filing, told me the company specializes in making automated sample storage and retrieval systems capable … Continue reading “Nexus Biosystems Raises $5M”
Intellikine Raises $28.5M, Cadence Awaits FDA Action, Somaxon Seeks FDA Approval Again for Insomnia Drug, & More San Diego Life Sciences News
We had some good news, mixed news, and odd news about San Diego’s life sciences companies over the past week. Read on for our full spectrum of coverage. —San Diego’s Intellikine said in a recent regulatory filing that it had raised $16 million in venture capital, and plans to raise an additional $22.5 million. But … Continue reading “Intellikine Raises $28.5M, Cadence Awaits FDA Action, Somaxon Seeks FDA Approval Again for Insomnia Drug, & More San Diego Life Sciences News”
Arena Raises $52.1M in Offering
San Diego’s Arena Pharmaceuticals (NASDAQ: [[ticker:ARNA]]) was trading just under $4 a share today, after the company priced its secondary public offering of 12.5 million shares yesterday at $4.17. Arena shares closed Tuesday at $4.67. Arena said last month that it had arranged $100 million in debt financing with Deerfield Management, a significant shareholder, that’s needed … Continue reading “Arena Raises $52.1M in Offering”
Intellikine Attracts Novartis, Biogen, and Others for $51M Second Round
Drug development startup Intellikine is disclosing the names of the new investors in its latest round of venture financing, which could total up to $51 million, according to a press release the La Jolla-based firm issued yesterday. The new investors behind the firm’s second-round financing are Novartis Bioventures, Cambridge, MA-based biotech powerhouse Biogen Idec (NASDAQ:[[ticker:BIIB]]), … Continue reading “Intellikine Attracts Novartis, Biogen, and Others for $51M Second Round”
Intellikine, Inc. Secures $51,000,000 New Funding
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=f73dd8d1-278c-4837-bdfb-7afd83cfb7b3&Preview=1 Date 7/9/2009 Company Name Intellikine, Inc. Mailing Address 10931 N. Torrey Pines Rd. La Jolla, CA 92037 Company Description Intellikine is a leader in the discovery and development of novel, small molecule therapies targeting the PI3K/Akt/mTOR pathway. Website http://www.intellikine.com Transaction Type Venture Equity Transaction Amount $51,000,000 Transaction Round Undisclosed Proceeds Purposes … Continue reading “Intellikine, Inc. Secures $51,000,000 New Funding”
Venture Capital Fundraising Down by 63 Percent So Far This Year
In news that’s not exactly unexpected, a mid-year survey shows that fundraising among U.S. venture capital firms is near low ebb, with the total raised so far at the lowest point since 2003, when 34 VC funds raised $2.2 billion in the first half of the year. The survey released today by Dow Jones Private … Continue reading “Venture Capital Fundraising Down by 63 Percent So Far This Year”
Vical Encouraged by CMV Study
Vical (NASDAQ:[[ticker:VICL]]) says early results from a mid-stage trial of its cytomegalovirus vaccine look promising. The San Diego-based company says that at four months, 30 percent of treated patients had infections compared to 50 percent in the untreated group. Viral load measurements and other data all favor the vaccinated group, according to Vical, which did … Continue reading “Vical Encouraged by CMV Study”
For Microsoft and Google, Battleground Shifts to Web-Based Operating Systems
The fight between Microsoft and Google for the future of computing just got more intense. Last night, Google officially announced a new project, a Web browser-based operating system called Google Chrome OS, which will initially target netbooks. Google said it would make the code available on an open-source basis later this year, and plans to … Continue reading “For Microsoft and Google, Battleground Shifts to Web-Based Operating Systems”
Small is Beautiful: Helix Power’s Weinbrandt Sees a Small Wind Turbine On Every Rooftop
Scott Weinbrandt spent 25 years working in computer technology, including 10 years as an executive at Dell, the direct-sales computer giant, as well as time as a senior vice president at Gateway, the onetime San Diego computer maker that is now part of Acer. During that time, the computer industry moved from centralized mainframes to … Continue reading “Small is Beautiful: Helix Power’s Weinbrandt Sees a Small Wind Turbine On Every Rooftop”
Lpath Replaces Its Outside Auditor
Five days after its June 24 annual meeting, San Diego’s Lpath (OTC:[[ticker:LPTN]]) dismissed the accounting firm LevitZacks for undisclosed reasons, according to a recent SEC filing. The biotech had recommended retaining the accounting firm to shareholders. In its SEC filing, Lpath noted that LevitZacks had expressed uncertainty about Lpath’s ability to continue as a going … Continue reading “Lpath Replaces Its Outside Auditor”
Somaxon Renews its Insomnia Drug Application, Raises $6M
San Diego’s Somaxon Pharmaceuticals (Nasdaq: [[ticker:SOMX]]) says it has submitted a revised new drug application for its insomnia drug doxepin (Silenor), and the biotech raised about $6 million in a private stock placement to see it through the NDA process. As I noted in February, the U.S. Food and Drug Administration turned down Somaxon’s initial … Continue reading “Somaxon Renews its Insomnia Drug Application, Raises $6M”
The Angel View on San Diego’s VC Landscape: Q&A With Tech Coast Angels’ Mayer and Elconin
Ralph Mayer got involved in Southern California’s Tech Coast Angels almost as soon as he moved to San Diego a decade ago, after working on computer-assisted design technologies at Chelmsford, MA-based Adra Systems and its sister company, MatrixOne. Now Mayer is chairman of the board of governors at the Tech Coast Angels, which bills itself … Continue reading “The Angel View on San Diego’s VC Landscape: Q&A With Tech Coast Angels’ Mayer and Elconin”
Cadence, Aiming to Reduce Narcotics Use in Hospitals, Gears Up to Market IV Pain Reliever
One of the most common drugs in the world, acetaminophen pain reliever that’s found in Tylenol and Excedrin, got some bad press last week. An FDA advisory panel recommended new restrictions be placed on the drug because it can cause liver failure at high doses. So if you’re San Diego-based Cadence Pharmaceuticals, and the future … Continue reading “Cadence, Aiming to Reduce Narcotics Use in Hospitals, Gears Up to Market IV Pain Reliever”
Nexus Biosystems Inc. Receives Series A Funding Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=27cbb360-d717-44a2-9a79-67055ff12c12&Preview=1 Date 7/7/2009 Company Name Nexus Biosystems Inc. Mailing Address 12140 Community Road Poway, CA 92064 Company Description NEXUS Biosystems, a privately held company based in Poway, California, USA, has since 1996 been a developer and provider of enabling technologies and automation systems for pharmaceutical, biotech, agrochemical and academic research institutions worldwide. … Continue reading “Nexus Biosystems Inc. Receives Series A Funding Round”
R.W. Beck Bought by SAIC
SAIC, the San Diego government contractor also known as Science Applications International Corp., has acquired R.W. Beck, a Seattle-based engineering consulting firm, according to an announcement made today by SAIC (NYSE: [[ticker:SAI]]). Financial details were not released. R.W. Beck was founded 67 years ago and specializes in business and technical consulting services in the energy … Continue reading “R.W. Beck Bought by SAIC”
Behind NTT DoCoMo’s $45.5M Stake in PacketVideo
NTT DoCoMo, the Japanese wireless communications provider, has invested $45.5 million to acquire a 35 percent stake in PacketVideo, the only operating company of San Diego digital media provider NextWave Wireless (NASDAQ: [[ticker:WAVE]]). In a statement released last night, PacketVideo says the all-cash transaction is intended to strengthen DoCoMo’s position as a provider of music … Continue reading “Behind NTT DoCoMo’s $45.5M Stake in PacketVideo”
With Accounting Troubles in the Past, BakBone Gets Back to Business
Jim Johnson was named CEO of San Diego’s BakBone Software in late 2004, but he has only recently been focusing his full attention on what he was hired to do: expanding the company’s business and product lines. Embarking on something of a shopping spree in May, Johnson oversaw BakBone’s purchase of the assets of Santa … Continue reading “With Accounting Troubles in the Past, BakBone Gets Back to Business”
That Neighborhood Solar Nut is Now a Keynote Speaker
As a longtime advocate for sustainable building design, I have spent decades listening to people associate solar energy with ugly black boxes on the roof of the house that belonged to the neighborhood nutcase. I’m here to tell you those days are gone forever. I now find myself sharing the dais with the owners of those early solar … Continue reading “That Neighborhood Solar Nut is Now a Keynote Speaker”
MojoPages Gets Austin Powered, Reaction Design’s Technology is on Fire, ParAccel Raises $22M, & Other San Diego BizTech News
It was a week of deals before the Fourth of July weekend—partnership deals, funding deals, and even some buyout deals. So let’s just deal ’em. —ParAccel, which develops business analytics technologies that accelerate database queries, moved into new digs in San Diego six months ago—after doubling its staff to 60 employees. Now the company, which … Continue reading “MojoPages Gets Austin Powered, Reaction Design’s Technology is on Fire, ParAccel Raises $22M, & Other San Diego BizTech News”
Happy Fireworks Day; See You Next Week
When in the course of human events it becomes necessary for bloggers to temporarily dissolve the bonds which have connected them with their readers, and to assume among the powers of the earth the long weekend to which the laws of nature entitle them, a decent respect to the opinions of mankind requires that they … Continue reading “Happy Fireworks Day; See You Next Week”