Category: San Diego

Intellikine, Chasing Hot Cancer Drug Target, Raises Big Venture Round

La Jolla, CA-based Intellikine, a company developing drugs against one of the hottest targets in cancer biology, has nailed down $16 million in venture capital out of a round that could be worth as much as $38.5 million, according to a regulatory filing. Intellikine got the capital infusion from its founding crew of investors—Sofinnova Ventures, … Continue reading “Intellikine, Chasing Hot Cancer Drug Target, Raises Big Venture Round”

Bakersfield Firm Re-Energizing San Diego’s Pyron Solar

Bakersfield businessman Stan Ellis, whose Ellis Energy Investments recently acquired Pyron Solar, says he’s keeping Pyron’s headquarters in San Diego but he plans to outsource much of the manufacturing. Ellis, who announced the acquisition of Pyron’s assets and intellectual property Tuesday, declined to disclose Pyron’s purchase price in a telephone interview yesterday. But he says … Continue reading “Bakersfield Firm Re-Energizing San Diego’s Pyron Solar”

The Eight (Seven…Six?) Information Devices I Can’t Live Without

If you read Xconomy, chances are that digital information is a big part of your day. You spend quite a bit of time absorbing, manipulating, and repackaging it. So here are a few questions for you: How many different devices do you use to channel all those bits? Is the number going up, or down? … Continue reading “The Eight (Seven…Six?) Information Devices I Can’t Live Without”

Sequenom Discloses SEC Probe, How Evoke Pharma Got its Drug, Illumina Sales Fall Short, & More San Diego Life Sciences News

We had a mixed bag of bad and good news from the San Diego life sciences industry this week heading into the holiday weekend. —At least 11 shareholder lawsuits have been filed against San Diego’s Sequenom (NASDAQ: [[ticker:SQNM]]) since the medical diagnostics company disclosed on April 29 that four employees were suspended for “mishandling” research … Continue reading “Sequenom Discloses SEC Probe, How Evoke Pharma Got its Drug, Illumina Sales Fall Short, & More San Diego Life Sciences News”

Illumina Sales Miss Expectations

San Diego-based Illumina, the maker of genetic analysis tools for biologists, said today that its second-quarter sales fell short of the company’s forecast. Illumina (NASDAQ: [[ticker:ILMN]]), in a preliminary, unaudited financial review, said it expects to report $161 million in second quarter sales—less than the $168 to $173 million it expected. It blamed the shortfall … Continue reading “Illumina Sales Miss Expectations”

Cleantech Venture Funding Brightens for All But Solar

The clouds may be parting for cleantech startups. Venture capital funding for renewable energy and cleantech startups (which plunged from last October through March) rebounded in the second quarter—but the $1.2 billion invested in 67 countries is still down 44 percent from the same quarter in 2008. Cleantech venture investments were strongest in transportation—specifically, vehicles … Continue reading “Cleantech Venture Funding Brightens for All But Solar”

SEC Opens Probe of Sequenom Research

San Diego’s Sequenom, which postponed release of its prenatal test for Down syndrome, disclosed in a filing that the Securities and Exchange Commision has initated an investigation into the company’s mishandling of data supporting the genetic test. The company says it received written notification of the probe from the SEC on June 29. The value … Continue reading “SEC Opens Probe of Sequenom Research”

Amira Pharmaceuticals’ Experimental Lung Disease Drug May Have Legs

The story around Amira Pharmaceuticals’ experimental drug AP2966 is beginning to get interesting. Yesterday the San Diego-based respiratory drug company said its experimental drug reduced lung scarring in mice, offering promise that the oral medication might one day be approved to treat pulmonary fibrosis. But it turns out there may be a lot more to this … Continue reading “Amira Pharmaceuticals’ Experimental Lung Disease Drug May Have Legs”

Pyron Solar Acquired

Ellis Energy Investments of Bakersfield, CA, says it has acquired the assets of San Diego-based Pyron Solar, a venture-backed company developing high-energy concentrating photovoltaic cells for utility scale solar projects. Ellis did not disclose financial terms. Pyron was founded in 2004 by Johannes “John” and Inge Laing, who spent 20 years developing the technology. Pyron … Continue reading “Pyron Solar Acquired”

Amira Pharmaceuticals Can Breathe Easier After Mouse Study

The people at San Diego’s Amira Pharmaceuticals are certainly breathing easier today. The respiratory drug development company is reporting that an experimental drug for idiopathic pulmonary fibrosis reduced lung scarring in mice, bringing Amira closer to its goal of beginning human tests of the oral medication during the first half of next year. In results presented this … Continue reading “Amira Pharmaceuticals Can Breathe Easier After Mouse Study”

Vical on Fast Pace With Animal Tests of Prototype Swine Flu Vaccine

An experimental swine flu vaccine from San Diego’s Vical (NASDAQ: [[ticker:VICL]]) produced “robust immune responses” in animal tests, the company reports. Vical says it can proceed to large-scale manufacturing and human tests if it receives funding. Getting regulatory approval of the prototype vaccine is another matter. Nevertheless, the company’s shares surged 50 cents, or more … Continue reading “Vical on Fast Pace With Animal Tests of Prototype Swine Flu Vaccine”

Reaction Design Aims for Cleantech Boom with Combustion Simulation Software

The world of combustion science is much like fluid dynamics, an intense and ever-changing pattern of turbulence, a swirling river of fire and complex chemistry. So it’s only apropos that San Diego’s Reaction Design, which seemed adrift for a decade or more, now finds itself at a powerful confluence of forces in combustion technology. Increasing … Continue reading “Reaction Design Aims for Cleantech Boom with Combustion Simulation Software”

UCSD’s Biological Dynamics a Finalist in Global Contest for $250K Prize

Biological Dynamics, an early stage cancer diagnostics company founded by UC San Diego grad student Raj Krishnan, has raised more than $47,000 in startup capital by winning cash prizes in business plan competitions and other academic contests. Now Krishnan tells me he’s one of 16 finalists in a global competition for university and business-school students that provides … Continue reading “UCSD’s Biological Dynamics a Finalist in Global Contest for $250K Prize”

Local.com Secures $10,000,000 New Financing Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=f405b1fc-3b8e-4b06-8ba0-f0004e1d91dd&Preview=1 Date 6/30/2009 Company Name Local.com Mailing Address One Technology Drive, Building G Irvine, CA 92618 Company Description Local.com (NASDAQ: LOCM) is a leading local search engine and the largest local search network in the United States. The company provides over 19 million consumers each month with the most relevant search results … Continue reading “Local.com Secures $10,000,000 New Financing Round”

MojoPages Garners $5,000,000 Series A Funding Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=4e23a131-c3dc-4b2b-b68b-f35027eb0575&Preview=1 Date 6/30/2009 Company Name MojoPages Mailing Address Undisclosed San Diego, CA 92120 Company Description “It all began when I was searching for a good moving company to help me relocate in San Diego. Since my friends had no suggestions, I turned to the Yellow Pages. Just out of college and low … Continue reading “MojoPages Garners $5,000,000 Series A Funding Round”

Medsphere Systems Corporation Garners $999,900 New Funding Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=4c2bfc11-25dd-43be-86b5-0207ca22aea9&Preview=1 Date 6/30/2009 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 $999,900 Transaction Round Undisclosed Proceeds Purposes Proceeds purposes were … Continue reading “Medsphere Systems Corporation Garners $999,900 New Funding Round”

Fonality Secures New Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=0ea094c1-d616-4501-8630-02a8aef9b9da&Preview=1 Date 6/30/2009 Company Name Fonality Mailing Address 200 Corporate Pointe Los Angeles, CA 90230 Company Description Fonality believes that a sea change is upon us in these transitory telecom waters. As customers migrate toward IP Telephony, the business phone system is becoming another extension of the business computer system. This process … Continue reading “Fonality Secures New Round”

Essentialis Lands New Financing Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=a2b714fc-4b00-4c1d-b7ae-3d6eec5fa26e&Preview=1 Date 6/30/2009 Company Name Essentialis Mailing Address 2011 Palomar Airport Rd Carlsbad, CA 92011 Company Description The company is developing therapeutic products for intervention in obesity. Website http://www.essentialistherapeutics.com Transaction Type Venture Equity Transaction Amount Undisclosed Transaction Round Undisclosed Proceeds Purposes Proceeds purposes were not disclosed. M&A Terms Venture Investor Vivo Ventures

Generate Garners New Financing Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=0c5becdf-de60-4680-9645-6dbfdbf84baf&Preview=1 Date 6/30/2009 Company Name Generate Mailing Address 1545 26th Street Santa Monica, CA 90404 Company Description Generate is an independent production and management studio creating professional entertainment properties targeted at Millennials across all media platforms with an emphasis on exploiting opportunities in the digital landscape. Launched in early 2006, Generate is … Continue reading “Generate Garners New Financing Round”

Lipothera Obtains $10,000,000 New Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=d37b2dc7-03df-43a9-8bfa-78dbe111eec3&Preview=1 Date 6/30/2009 Company Name Lipothera Mailing Address Undisclosed La Jolla, CA 92037 Company Description Lipothera operates as a biopharmaceutical company. Website Undisclosed Transaction Type Venture Equity Transaction Amount $10,000,000 Transaction Round Undisclosed Proceeds Purposes Proceeds purposes were not disclosed. M&A Terms Venture Investor Alta Partners Venture Investor Domain Associates

Epic Sciences Lands $2,500,000 New Financing Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=ce016d73-dc8e-4c7d-a806-7acd7507902d&Preview=1 Date 6/30/2009 Company Name Epic Sciences Mailing Address Undisclosed San Diego, CA 92121 Company Description The company manufactures analytical laboratory instruments. Website http://www.epicsciences.com Transaction Type Venture Equity Transaction Amount $2,500,000 Transaction Round Undisclosed Proceeds Purposes Proceeds purposes were not disclosed. M&A Terms Venture Investor Venrock

Axikin Pharmaceuticals Obtains $1,500,000 New Funding Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=1fd1f1b7-de93-4f69-982b-a2253f3b26d8&Preview=1 Date 6/30/2009 Company Name Axikin Pharmaceuticals Mailing Address 10835 Road To The Cure San Diego, CA 92121 Company Description The company is developing unspecified pharmaceutical technology. Website http://www.axikin.com Transaction Type Venture Equity Transaction Amount $1,500,000 Transaction Round Undisclosed Proceeds Purposes Proceeds purposes were not disclosed. M&A Terms Venture Investor Sanderling Ventures

KFx Medical Corp. Secures $1,207,000 New Financing

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=2d99c8bb-d77f-4913-8cc2-aba3113f2a5e&Preview=1 Date 6/30/2009 Company Name KFx Medical Corp. Mailing Address 5845 Avenida Encinas Carlsbad, CA 92008 Company Description KFx Medical Corporation, a developer of minimally invasive percutaneous repair systems for rotator cuff repair Website http://www.kfxmed.com Transaction Type Venture Equity Transaction Amount $1,207,000 Transaction Round Undisclosed Proceeds Purposes Proceeds purposes were not disclosed. … Continue reading “KFx Medical Corp. Secures $1,207,000 New Financing”

Axiom Microdevices Lands $4,450,000 New Funding

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=77004704-1ba4-47c3-83ae-bd536806ca51&Preview=1 Date 6/30/2009 Company Name Axiom Microdevices Mailing Address 7585 Irvine Center Drive Irvine, CA 92618 Company Description Founded in 2002 with patented breakthrough technology developed at the California Institute of Technology, Axiom Microdevices is the first company to use commodity complementary metal oxide semiconductor (CMOS) processes to produce fully integrated power … Continue reading “Axiom Microdevices Lands $4,450,000 New Funding”

Blue Rover Labs Obtains $10,000,000 New Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=c3f94a9e-0095-4350-9a42-bf7d617d2ad1&Preview=1 Date 6/30/2009 Company Name Blue Rover Labs Mailing Address Undisclosed Santa Monica, CA 90401 Company Description The company operates as an Internet services company. Website http://www.blueroverlabs.com Transaction Type Venture Equity Transaction Amount $10,000,000 Transaction Round Undisclosed Proceeds Purposes Proceeds purposes were not disclosed. M&A Terms Venture Investor August Capital Venture Investor … Continue reading “Blue Rover Labs Obtains $10,000,000 New Round”

Cebix Obtains $2,276,000 New Financing

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=3b998726-ab11-4ff8-a19e-e0a6a7290d7f&Preview=1 Date 6/30/2009 Company Name Cebix Mailing Address 120 Prospect Street Ocean Level – 4 La Jolla, CA 92037 Company Description Cebix Inc is a biopharma startup. Website Undisclosed Transaction Type Venture Equity Transaction Amount $2,276,000 Transaction Round Undisclosed Proceeds Purposes Proceeds purposes were not disclosed. M&A Terms Venture Investor Sofinnova Ventures

Famed Physicist Freeman Dyson on Nukes and Genomes

British theoretical physicist and mathematician Freeman Dyson, renowned for his work in quantum field theory, solid-state physics, and nuclear engineering, will speak on “Nukes and Genomes” as part of U.C. San Diego’s Helen Edison Lecture Series. Previous speakers include former Vice President Al Gore, Nobel Peace Prize winner Muhammad Yunus, and author Toni Morrison, a Nobel … Continue reading “Famed Physicist Freeman Dyson on Nukes and Genomes”

Concerro Expands Into Hospital Incident Management

San Diego-based Concerro, the developer of Web-based software that enables nurses in 200 U.S. hospitals to bid for shifts, says it has acquired all the assets and intellectual property related to CommandAware, a hospital-incident management system, from Los Angeles-based PortBlue. The deal means a new line of business for Concerro, which has 50 employees and … Continue reading “Concerro Expands Into Hospital Incident Management”

The Art of the Turnaround

A seminar on how to refocus companies that are going in the wrong direction. How to refocus on strategy, planning, and execution. This event uses some case histories and key points from the book, “The Art of the Turnaround.” Register online here.

ParAccel Lands $22 Million in VC Funding

ParAccel, which has offices in Cupertino, CA, and San Diego, says it has raised $22 million in a Series C round of venture funding. The company provides database management system for data warehousing and analysis. A new investor, Menlo Ventures, led the round, which included Walden International as well as previous investors Bay Partners, Mohr Davidow Ventures … Continue reading “ParAccel Lands $22 Million in VC Funding”

The Tale of the Green Surfboard: Behind the Scenes at Connect’s Cleantech Venture Roundtable

In December 2005, the biggest maker of polyurethane foam blanks used to make the core of surfboards (and other products) abruptly shut down—creating a huge void among Southern California surfboard makers and the composites industry. I have worked in the composites industry for nearly 30 years and I was keenly aware of the highly toxic … Continue reading “The Tale of the Green Surfboard: Behind the Scenes at Connect’s Cleantech Venture Roundtable”

Xconomy, San Diego Union-Tribune Enter Into Syndication Partnership

In less than nine months, Xconomy San Diego has emerged as the most-authoritative source for news and information about technology innovation in our sun-splashed region—and beyond. As the third and newest hub in the Xconomy network, we set out from the beginning to describe how and why San Diego is renowned for pioneering advances in … Continue reading “Xconomy, San Diego Union-Tribune Enter Into Syndication Partnership”

J. Craig Venter Gets Some Federal Stimulus Funding, Out-of-Town VCs Get Better Results, Third Automaker Parks Downtown & Other San Diego BizTech News

The recession may be resetting our expectations, but technology innovation could be re-arranging our thinking about the importance of hometown VCs. And the arrival of a new venture-backed automaker in our region also raises an interesting question: Could San Diego become America’s new “Motor City?” Forthwith, the highlights from last week’s news: —The V-Vehicle Company, … Continue reading “J. Craig Venter Gets Some Federal Stimulus Funding, Out-of-Town VCs Get Better Results, Third Automaker Parks Downtown & Other San Diego BizTech News”

ParAccel Lands $22,000,000 Series C Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=f9e4302f-5390-4ba7-9da1-bbfdf71e3928&Preview=1 Date 6/29/2009 Company Name ParAccel Mailing Address 9920 Pacific Heights Blvd San Diego, CA 92121 Company Description The company develops data warehousing software for use by enterprises and other data-intensive organizations. Website http://www.paraccel.com Transaction Type Venture Equity Transaction Amount $22,000,000 Transaction Round Series C Proceeds Purposes ParAccel will use the funds … Continue reading “ParAccel Lands $22,000,000 Series C Round”

Documents Shed Light on Cam Garner’s Stealth Venture

The mystery surrounding San Diego’s Evoke Pharma is beginning to clear. The specialty drug company co-founded by serial entrepreneur Cam Garner has been operating in stealth mode and has said little about the experimental drug it is developing for gastroparesis, a digestive disorder that affects diabetics. But a recent quarterly filing from a third party, … Continue reading “Documents Shed Light on Cam Garner’s Stealth Venture”

Receptos Pharmaceuticals Inc Acquires Apoptos Inc for Undisclosed Sum

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=5b532f4b-a08b-4978-a83f-cbad6b4d3f21&Preview=1 Date 6/26/2009 Company Name Apoptos Inc Mailing Address 10835 Road to the Cure San Diego, CA 92121 Company Description Apoptos Inc. is focused on developing novel small molecule drug therapies that directly induce tumor cell apoptosis. Using founding technology licensed from Burnham Institute for Medical Research, Fred Hutchinson Cancer Research Center, … Continue reading “Receptos Pharmaceuticals Inc Acquires Apoptos Inc for Undisclosed Sum”

Xconomy HQ is Bursting at the Seams; Xconomy’s Pages Won’t Be Quite as Full as Usual

I’m extremely pleased to report that Xconomy’s headquarters in Cambridge are jam packed this week, since everybody flew in from our Seattle and San Diego offices for the inaugural XSITE—Xconomy Summit on Innovation, Technology, and Entrepreneurship—yesterday at Boston University. It’s a rare treat to have everybody together and, fortuitously, we’re also coming up on the … Continue reading “Xconomy HQ is Bursting at the Seams; Xconomy’s Pages Won’t Be Quite as Full as Usual”

Xconomy Summit Hits Boston: Lessons on Innovation, Plans for Recovery from Dean Kamen, Juan Enriquez, and a Host of Other Leaders

Boston-area entrepreneurs unveiled their inventions for optimizing decision-making, delivering drugs to the bladder, and providing a “check-engine light” for the human body. Investors shrugged off the bitter economy and talked about their future plans to create new tech companies. Inventor and educator Dean Kamen delivered an inspirational speech on ways to train the coming generation … Continue reading “Xconomy Summit Hits Boston: Lessons on Innovation, Plans for Recovery from Dean Kamen, Juan Enriquez, and a Host of Other Leaders”

Qualcomm Exec Helps Start Wireless-Life Sciences Alliance, Lawsuit Entangles La Jolla Pharma, Sorrento Raises Cash & More San Diego Life Sciences News

We saw several San Diego biotechs raising cash over the past week, which might be a sign that some green shoots are emerging in the regional economy. Read up on that and the rest of San Diego’s life sciences news. —Less than three months after its debut, San Diego’s new West Wireless Health Institute says … Continue reading “Qualcomm Exec Helps Start Wireless-Life Sciences Alliance, Lawsuit Entangles La Jolla Pharma, Sorrento Raises Cash & More San Diego Life Sciences News”

West Wireless Health Institute Discloses First Clinical Trial

San Diego’s new West Wireless Health Institute today announced its first clinical research program, saying it will oversee randomized clinical trials of wireless heart monitoring technology developed by San Jose, CA-based Corventis. The institute, which announced its presence less than three months ago, was established to advance healthcare by helping medical device makers and others … Continue reading “West Wireless Health Institute Discloses First Clinical Trial”

UCSD Research Review: Center for Network Systems

This two-day review of research will be held at the Computer Science and Engineering Building at U.C. San Diego. The agenda includes talks by UCSD’s industrial affiliates about their companies’ current research challenges and concerns. Review sessions will cover CNS research challenges and progress, graduate students’ work, research poster sessions, and informal interactions with faculty … Continue reading “UCSD Research Review: Center for Network Systems”

Secrets to the Startup

The San Diego Software Industry Council is offering a workshop on laying the foundations for starting your own company. The required resources have never been less expensive, from talent to hard assets. If you’ve thought about branching out on your own, come and learn or reinforce the basics of how to prepare your startup for … Continue reading “Secrets to the Startup”

Making it Succinct and to the Point

Biocom, the San Diego life sciences association, has organized a one-day workshop on how to plan and execute a perfect presentation. The session covers such topics as keeping things audience-focused, and being clear and concise. Training is provided through one-on-one coaching and presentations to a small group. Online registration is here.

Venter Institute Gets $8.8 Million in Stimulus Funding

The National Institutes of Health (NIH) said today it is providing $42 million to The Human Microbiome Project’s three large-scale sequencing centers. One of the centers is J. Craig Venter Institute in Rockville, MD, with its headquarters in San Diego, which gets $8.8 million as part of the government’s economic stimulus package for research that … Continue reading “Venter Institute Gets $8.8 Million in Stimulus Funding”

After the Breakup: BioMarin Says Ex-Partner La Jolla Pharmaceutical Dragging its Feet on Stock Registration

Hard times can make for hard feelings between former drug development partners, which seems to be what’s happening between Novato, CA-based BioMarin (NASDAQ: [[ticker:BMRN]]) and San Diego’s ailing La Jolla Pharmaceutical (NASDAQ: [[ticker:LJPC]]). Once the love was gone, BioMarin just couldn’t get rid of the La Jolla Pharmaceutical shares it owned fast enough. So it … Continue reading “After the Breakup: BioMarin Says Ex-Partner La Jolla Pharmaceutical Dragging its Feet on Stock Registration”

Halozyme Raises $40M in Secondary Offering

[Editor’s Note: Updated in first graf at 8:10 a.m. on 6/23/09] Halozyme Therapeutics Inc. said today it priced its secondary offering at $6.50 a share, an almost 14 percent discount to yesterday’s closing price of $7.53 a share. The offering of 6.15 million shares raised $40 million, with Halozyme’s net proceeds amounting to $38.2 million. … Continue reading “Halozyme Raises $40M in Secondary Offering”

Successful Startups Put Some Distance Between Their HQ and Their VCs

The conventional wisdom used to be that technology startups should be located as close to their venture investors’ main offices as possible. That way, it’s easier to call on your venture partners’ experience and networks, get them to attend your board meetings, and so forth. But the conventional wisdom may be dead wrong. Private equity … Continue reading “Successful Startups Put Some Distance Between Their HQ and Their VCs”