Category: San Diego

E&Y Names Local Entrepreneurs of the Year

Ernst & Young has named Quake Global CEO Polina Braunstein as its San Diego regional High Technology Entrepreneur of the year. Quake Global makes palm-sized satellite transponders for tracking purposes. Ernst &Young issued awards to San Diego entrepreneurs in seven other categories for 2009: Master Entrepreneur, CEO Les Cross of DJO Inc.; Emerging Entrepreneur, CEO … Continue reading “E&Y Names Local Entrepreneurs of the Year”

Three Local Biotechs Raising Cash

Three San Diego-based biopharmaceutical startups have been raising capital, according to recent filings with the U.S. Securities and Exchange Commission (SEC). —Valor Medical, which was founded in 2007, has raised $3.1 million of an $8 million offering, according to a recent SEC filing.  CEO H. Clark Adams says this is a partial close of a Series … Continue reading “Three Local Biotechs Raising Cash”

Exclusive: Icahn’s Picks For Biogen Idec Board on Why They Think They Won 2 Seats, Who’s Likely Out, and Plans for the Future

(Updated with Biogen Idec announcement of preliminary results, 3:18 pm, June 4—see below) When last we left the cliffhanger that was yesterday’s Biogen Idec (NASDAQ: [[ticker:BIIB]]) annual meeting: the forces of billionaire investor Carl Icahn claimed they had won two of four director seats up for election. The New York Times was reporting Icahn had … Continue reading “Exclusive: Icahn’s Picks For Biogen Idec Board on Why They Think They Won 2 Seats, Who’s Likely Out, and Plans for the Future”

Anadys Pharma Cuts 40% of Workforce and Raises $17.5M to Stay Afloat

[[Correction appended]] San Diego-based Anadys Pharmaceuticals (NASDAQ:[[ticker:ANDS]]) is revealing moves this morning to improve its balance sheet. The firm will reduce its workforce by 40 percent and suspend development of its second drug candidate for cancer and hepatitis C, to instead focus its remaining resources on advancing its lead drug candidate for hepatitis C virus. … Continue reading “Anadys Pharma Cuts 40% of Workforce and Raises $17.5M to Stay Afloat”

Craig Venter Has Algae Biofuel in Synthetic Genomics’ Pipeline

When renowned genome scientist J. Craig Venter spoke at San Diego’s Connect’s Innovation Summit two months ago, he focused mostly on creating genetically engineered microbes that consume coal to produce natural gas. But a review of Venter’s recent presentations and other information suggests that Synthetic Genomics, the San Diego startup he co-founded, also has a major biofuels initiative underway, … Continue reading “Craig Venter Has Algae Biofuel in Synthetic Genomics’ Pipeline”

Amylin Dissidents Win Board Seats, Targeted Genetics’ Troubles Raise Gene Therapy Concerns, Celladon Eyes Partnership, & More San Diego Life Sciences News

The big news in the San Diego biotech community this week came from the boardroom instead of the laboratory. Dissident shareholder factions elected representatives to the boards of both San Diego-based Amylin Pharmaceuticals (NASDAQ: [[ticker:AMLN]])and Biogen Idec, the Cambridge, MA, biotech that has a significant local presence. —Amylin’s founding CEO Howard “Ted” Greene, who also is … Continue reading “Amylin Dissidents Win Board Seats, Targeted Genetics’ Troubles Raise Gene Therapy Concerns, Celladon Eyes Partnership, & More San Diego Life Sciences News”

XCast Labs, Inc Obtains $2,700,000 Series A Funding Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=228eb82b-39b1-45b0-b191-0869e722e6b4&Preview=1 Date 6/4/2009 Company Name XCast Labs, Inc Mailing Address 1999 Avenue of the Stars Los Angeles, CA 90067 Company Description XCast Labs is an advanced SaaS (Software as a Service) provider that has developed a comprehensive suite of software and hardware solutions that enable Cable MSOs / PCOs, CLECs, RLECs, ISPs, … Continue reading “XCast Labs, Inc Obtains $2,700,000 Series A Funding Round”

Icahn Nominees Claim Victory on Two of Four Open Seats to Biogen Idec Board, Vote Still Not Official

[Update, 3:05 pm Eastern] Billionaire investor Carl Icahn’s representatives say they have pulled out a victory in their proxy contest with Biogen Idec, winning two of the four seats that were up for grabs in a shareholder election. The official results weren’t yet announced, as the company adjourned the annual shareholder meeting without declaring who … Continue reading “Icahn Nominees Claim Victory on Two of Four Open Seats to Biogen Idec Board, Vote Still Not Official”

Inside the Biogen Idec Shareholder Meeting, Tensions Flare as Icahn Accuses Company of “Hijacking” Vote

[Updated with Bloomberg comment at 12:55 pm Eastern] Tensions at the Biogen Idec annual shareholders meeting are palpable. Representatives from billionaire investor Carl Icahn have twice called for the polls to be closed—once before CEO James Mullen gave a speech, and a second time before an unscheduled recess was called at approximately 11 am. The … Continue reading “Inside the Biogen Idec Shareholder Meeting, Tensions Flare as Icahn Accuses Company of “Hijacking” Vote”

Seattle Passes Boston in High-Tech Center Ranking; San Diego at #7

Seattle, the Washington D.C. area, and Orange County have moved up in Milken Institute’s ranking of top high-tech center areas in North America. From 2003 to 2007, Seattle passed Boston and became America’s second-ranking high-tech metro area. San Diego is at seventh place. (These are Xconomy’s network cities.) The number one spot belongs to Silicon … Continue reading “Seattle Passes Boston in High-Tech Center Ranking; San Diego at #7”

Dry Storage Savings Detailed

San Diego’s Biomatrica, which has developed a dehydrating technique for storing biological samples at room temperature, released some cold, hard facts today about laboratory energy costs. Biomatrica says a major U.S. research university could cut its electricity usage by 40 million kilowatt-hours, reduce its carbon footprint by an estimated 18,000 metric tons, and save $16 million … Continue reading “Dry Storage Savings Detailed”

Contentious Biogen Idec Meeting Delayed; Icahn Nominee Objects, Saying “This is Not North Korea”

Shareholders of Cambridge, MA-based Biogen Idec (NASDAQ: [[ticker:BIIB]]) will have to wait a while to hear the outcome of the hotly contested board election. The company’s board called a recess during the annual meeting before results were announced on whether billionaire investor Carl Icahn was able to gain any seats on the company’s 13-member board. … Continue reading “Contentious Biogen Idec Meeting Delayed; Icahn Nominee Objects, Saying “This is Not North Korea””

Experimental Gene Therapy for Blindness Will Proceed Even if Targeted Genetics Goes Dark

[Editors note: corrects times in previous version for third patient through maze ] Among the more impressive presentations at the annual meeting of the American Society for Gene Therapy in San Diego last week was this video provided by researchers at University College London. It shows a man with a form of hereditary blindness navigating a maze before and … Continue reading “Experimental Gene Therapy for Blindness Will Proceed Even if Targeted Genetics Goes Dark”

Novocell Snaps Up Second Stem Cell Patent, New CEO Pursues “Next Big Field” of Biotech

San Diego-based Novocell has nailed down a second important patent on a valuable type of cell derived from human embryonic stem cells, which could end up forcing a lot of researchers to license technology from the company on Torrey Pines Mesa. The company is announcing today it has secured a U.S. patent that protects its … Continue reading “Novocell Snaps Up Second Stem Cell Patent, New CEO Pursues “Next Big Field” of Biotech”

Biogen Idec Showdown with Carl Icahn Culminates in Shareholder Vote Today

Shareholders of Cambridge, MA-based Biogen Idec (NASDAQ: [[ticker:BIIB]]) will have their say today on whether or not they want billionaire investor Carl Icahn’s nominees to shake things up in the boardroom. The votes will be tallied at the company’s annual meeting being held at 9 am Eastern time today at the American Academy of Arts … Continue reading “Biogen Idec Showdown with Carl Icahn Culminates in Shareholder Vote Today”

Ring Revenue, Inc Garners $3,500,000 Series A Funding Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=03082561-dd03-48bf-963c-9d61fb7eba68&Preview=1 Date 6/3/2009 Company Name Ring Revenue, Inc Mailing Address 125 E. De La Guerra St Santa Barbara, CA 93130 Company Description The Company was founded by proven marketing and technology leaders who share a passion for developing customer-driven solutions that result in a high volume of daily use. Website http://www.ringrevenue.com Transaction … Continue reading “Ring Revenue, Inc Garners $3,500,000 Series A Funding Round”

Amylin Founder Ted Greene, In Exclusive Interview, Upbeat About Outcome of Proxy Battle

San Diego-based Amylin Pharmaceuticals has witnessed an extraordinary struggle for control of its board of directors in which a key turning point came when founding CEO Howard “Ted” Greene publicly switched sides and urged shareholders to vote for the dissidents’ nominees. So what does Greene have to say about the results of the shareholder vote … Continue reading “Amylin Founder Ted Greene, In Exclusive Interview, Upbeat About Outcome of Proxy Battle”

Amylin Chairman, Lead Director Ousted as Dissidents Gain Two Board Seats

The shareholders of San Diego-based Amylin Pharmaceuticals (NASDAQ: [[ticker:AMLN]]) have spoken, and they’ve ousted the company’s chairman of the board and the lead independent director. Amylin chairman Joseph Cook and lead independent director James Wilson lost their bid for re-election, the company said today, after votes were tallied from the shareholder meeting of May 27. … Continue reading “Amylin Chairman, Lead Director Ousted as Dissidents Gain Two Board Seats”

Inovio and VGX Pharma Merge

San Diego DNA vaccine developer Inovio Biomedical (NYSE: [[ticker:INO]]) says it has completed its merger with VGX Pharmaceuticals of Blue Bell, PA. The combination gives Inovio more time to develop its approach to new preventive and therapeutic vaccines against cancers and chronic infectious diseases such as HIV. Inovio says it has $11.7 million in available cash and … Continue reading “Inovio and VGX Pharma Merge”

Qualcomm Opens Mirasol Display Plant

San Diego’s Qualcomm (NASDAQ: [[ticker:QCOM]]) says it has commenced operations at its mirasol display fabrication facility in Taiwan, which the wireless technology giant operates with Foxlink, a leading device manufacturer. Qualcomm MEMS Technology’s plant in manufactures displays on generation 4.5 glass, which is based on the innovative mirasol (“look at the sun”) display technology that provides superior … Continue reading “Qualcomm Opens Mirasol Display Plant”

Early Cancer Diagnosis Startup Wins Entrepreneur Challenge

A biotechnology company aiming to revolutionize early-stage cancer screening last night won the UC San Diego Entrepreneur Challenge. Biological Dynamics, led by bioengineering PhD student and CEO Raj Krishnan and his fellow graduate students David Charlot and Roy Lefkowitz, took home the $40,000 first prize. Biological Dynamics has developed a screening tool that identifies secondary … Continue reading “Early Cancer Diagnosis Startup Wins Entrepreneur Challenge”

Genomatica Clears Way for ‘Sustainable Chemical’ Demo Plant

San Diego’s Genomatica says it has checked off another technical accomplishment in its quest to take the “petroleum” out of the petrochemical industry. After showing last year that it had engineered bacteria to make butanediol, a key industrial chemical also known as BDO, Genomatica says it now can make BDO in commercial grade batches. In … Continue reading “Genomatica Clears Way for ‘Sustainable Chemical’ Demo Plant”

Using Biotechnology Innovations, Senomyx Makes New Taste Sensations

San Diego-based Senomyx is using some innovations from the biotech industry to develop novel flavor ingredients to enhance tastes, enable food makers to reduce their costs, and improve the “nutritional profile” of food and beverages. At least that’s the way CEO Kent Snyder described it when I met with him recently. Snyder emphasized that Senomyx … Continue reading “Using Biotechnology Innovations, Senomyx Makes New Taste Sensations”

Cricket Refinances Debt and Raises Cash, KESDEE Moves to mLearning from eLearning, Good Technology Buys Intercasting, & More San Diego BizTech News

In the short week after Memorial Day, we got a little European literature with tips on bootstrapping, Medsphere got some venture funding, and Good Technology got a San Diego startup, among other interesting news. —At the San Diego Venture Group’s panel discussion on bootstrapping a business, MaxLinear’s CEO Kishore Seendripu talked defining bootstrapping, which he … Continue reading “Cricket Refinances Debt and Raises Cash, KESDEE Moves to mLearning from eLearning, Good Technology Buys Intercasting, & More San Diego BizTech News”

TorreyPines Moves to Dissolution

TorreyPines Therapeutics (Nasdaq: [[ticker:TPTX]]) plans to wind down its business after the San Diego biotech’s board of directors unanimously approved a plan to liquidate and dissolve the company. TorreyPines, which laid off most of its workforce last year, says it intends to call a special shareholders meeting to seek approval of the dissolution plan. While the board approved … Continue reading “TorreyPines Moves to Dissolution”

A Defining Time for Bootstrapping and Survival—Lessons From Business Leaders and Baron Munchausen

When the CEO of Carlsbad, CA-based MaxLinear cited a 1785 translation of “The Surprising Adventures of Baron Munchausen” for the term “bootstrapping,” it’s safe to say nobody in the audience knew where the discussion was headed. But MaxLinear’s Kishore Seendripu was making a point during a panel discussion on “bootstrapping a business” that was hosted … Continue reading “A Defining Time for Bootstrapping and Survival—Lessons From Business Leaders and Baron Munchausen”

Will Quick Hit Score Big? Behind the Scenes with Foxborough’s Newest Team

There’s a company in Foxborough, MA, not two miles away from the New England Patriots’ Gillette Stadium, where a crew of veteran online game developers is putting the finishing touches on a potentially groundbreaking new game about football. Now, I can tell you all about why the venture-funded startup, Quick Hit, is likely to dazzle … Continue reading “Will Quick Hit Score Big? Behind the Scenes with Foxborough’s Newest Team”

Tandem Diabetes Care Inc Garners $21,400,000 New Funding Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=ff5160ed-d2b8-4f54-94a9-df6a68d3b992&Preview=1 Date 5/29/2009 Company Name Tandem Diabetes Care Inc 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 $21,400,000 Transaction Round Undisclosed Proceeds Purposes Proceeds purposes were not disclosed. M&A Terms Venture … Continue reading “Tandem Diabetes Care Inc Garners $21,400,000 New Funding Round”

Leap Increases Stock Offering

San Diego’s Leap Wireless increased the size of its stock offering to 7 million shares today and priced it near the market close of $37.79 a share, enabling the affordable cell phone service provider to raise $264 million. Leap said yesterday it intended to offer 6.1 million shares. The company also priced its $1.1 billion … Continue reading “Leap Increases Stock Offering”

Nokia CEO Says the Door to U.S. Market is in San Diego

Nokia CEO Olli-Pekka Kallasvuo says San Diego plays a key role in the Finnish mobile phone giant’s plans to stage a comeback in the U.S. market. Kallasvuo was questioned by Wall Street Journal columnist Walt Mossberg at the All Things Digital D7 conference in Carlsbad, CA, about Nokia’s (NYSE: NOK) decline with U.S. carriers. Nokia … Continue reading “Nokia CEO Says the Door to U.S. Market is in San Diego”

Sterilizable RFID Tags Validated

San Diego-based Awarepoint says an independent medical laboratory has tested and validated its sterlizable RFID tags, which are designed to provide hospitals real time location tracking information about patients and medical equipment. The tests, which simulated clinical use, were done to show that Awarepoint’s battery-powered Radio Frequency Identity tags can be repeatedly cleaned, disinfected, and … Continue reading “Sterilizable RFID Tags Validated”

Amylin Pharmaceuticals Gets New Directors (But Who Are They?), Ophthonix and Vical Raise Capital, Metabasis Cuts Back—Again, & More San Diego Life Sciences News

After months of buildup to get to yesterday’s shareholder vote to determine the makeup of Amylin Pharmaceuticals’ board of directors, a key question remains unresolved. Happily for those who like more closure, the rest of the week held more definitive news for San Diego’s life sciences companies. —The protracted proxy battle between San Diego’s Amylin … Continue reading “Amylin Pharmaceuticals Gets New Directors (But Who Are They?), Ophthonix and Vical Raise Capital, Metabasis Cuts Back—Again, & More San Diego Life Sciences News”

San Diego’s KESDEE Prepares to Move to mLearning

KESDEE calls itself world’s largest eLearning company for money managers. The San Diego company provides state-of-the-art financial education and training for professionals, and it is taking its digital headstart to new levels. KESDEE plans to move its courses to mLearning—as in mobile learning—which means its 700 accredited eLearning courses on such topics as banking, insurance, … Continue reading “San Diego’s KESDEE Prepares to Move to mLearning”

Leap Wireless Out to Raise over $1.3B to Expand, Retire Debt

Plans by former Qualcomm spinout Leap Wireless (NASDAQ: [[ticker:LEAP]]) to raise more than $1.3 billion in debt and loans set off market speculation about potential mergers, although the company says it just plans to retire a credit line and maybe expand its wireless network. Leap disclosed its capital-raising plans late yesterday in a pair of … Continue reading “Leap Wireless Out to Raise over $1.3B to Expand, Retire Debt”

X1 Technologies, Inc Receives New Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=71e48a96-347f-42da-8d15-bcc26cd3f955&Preview=1 Date 5/28/2009 Company Name X1 Technologies, Inc Mailing Address 130 W. Union St. Pasadena, CA 91103 Company Description The core of the X1 Technologies solution, which is protected by five pending patents, uses a proprietary method for indexing the content of every email, attachment and file on a business user’s hard … Continue reading “X1 Technologies, Inc Receives New Round”

Amylin’s Dissident Shareholders Gain Influence on Board

Two dissident shareholder groups have succeeded in electing two new directors to the board of San Diego’s Amylin Pharmaceuticals, (NASDAQ: [[ticker:AMLN]]), according to the company and one of the shareholder groups. In a statement issued today, Eastbourne Capital Management of San Rafael, CA, says, “based on voting estimates from its proxy solicitor,” it appears that … Continue reading “Amylin’s Dissident Shareholders Gain Influence on Board”

Latest Metabasis Cutbacks Leave Just Seven Employees

San Diego-based diabetes drug developer Metabasis Therapeutics (NASDAQ: [[ticker:MBRX]]) laid off 35 of its 125 employees in November, and another 38 in January. Those cutbacks amounted to 28 percent and 43 percent of the biotech’s workforce, respectively. At that time, new CEO Mark Erion said he was optimistic the diabetes drug, MB07803, would lead to … Continue reading “Latest Metabasis Cutbacks Leave Just Seven Employees”

Bakbone Pays $7.8M of Stock for Coldspark

[[Correction: We originally reported that Bakbone raised $7.8 million in new equity, but a closer read of a footnote in the regulatory filing shows Bakbone is issuing stock worth that amount as part of its acquisition of Coldspark. We apologize for the error.]] Bakbone Software, the San Diego-based maker of data backup and recovery products, … Continue reading “Bakbone Pays $7.8M of Stock for Coldspark”

Good Technology Acquires Intercasting

San Diego-based mobile social networking firm Intercasting has been acquired by Redwood City, CA-based push mobility firm Good Technology. Terms of the agreement were not disclosed. Intercasting’s Anthem platform is used by numerous carriers, including Alltel, AT&T, Boost Mobile, Sprint, T-Mobile, Verizon Wireless, and Virgin Mobile USA.

Ophthonix Raises $25.9M for Vision-Correction Technology

Vista, CA-based vision correction company Ophthonix has closed a $25.9 million “Series AA” financing round. According to a press release the company’s current investors Kleiner Perkins Caufield & Byers, Enterprise Partners, DAG Ventures, Gund Investment Corporation, InterWest Partners, Trex Enterprises, and Wasath Advisors’ Cross Creek Capital Fund participated, in addition to a new, undisclosed investor. … Continue reading “Ophthonix Raises $25.9M for Vision-Correction Technology”

Amylin Shareholders Vote Today in Battle to Influence Board

[[Editor’s note: Updated today at 10:55 am PT]] A shareholder vote that could influence the course of San Diego’s Amylin Pharmaceuticals has been completed, but results of the board election were not released during the meeting today. “We do not have an indication [of the outcome] at this time,” Amylin chairman Joseph Cook told shareholders … Continue reading “Amylin Shareholders Vote Today in Battle to Influence Board”

Fate Therapeutics Starts First Clinical Trial of Drug to Boost Stem Cell Transplants

Fate Therapeutics plans to announce this morning that it has begun its first clinical trial of a drug built on its knowledge of stem cell biology. Rather than injecting certain kinds of adult stem cells to regenerate tissues, this treatment involves a conventional small-molecule drug that’s designed to spur growth of blood-forming stem cells that … Continue reading “Fate Therapeutics Starts First Clinical Trial of Drug to Boost Stem Cell Transplants”

David M. Bodine Q&A: Making Progress on Gene Therapy, Despite Targeted Genetics’ Woes

The 2,000 members of the American Society of Gene Therapy meet in San Diego this week at an auspicious moment. Scientists from around the globe will present encouraging research on the use of gene therapy for a broad range of illnesses, including a rare hereditary blindness and cancer. But to the north in Seattle, as … Continue reading “David M. Bodine Q&A: Making Progress on Gene Therapy, Despite Targeted Genetics’ Woes”

Ophthonix Inc Lands $25,900,000 Series A Funding Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=f6472aa1-4831-4124-918d-915a85de469c&Preview=1 Date 5/27/2009 Company Name Ophthonix Inc Mailing Address 1491 Poinsettia Avenue Vista, CA 92081 Company Description Ophthonix Inc., a developer and marketer of advanced eyeglass lenses. The lenses aim to mimic the vision improvements rendered by the popular Lasik surgical procedure. Website http://www.izonlens.com Transaction Type Venture Equity Transaction Amount $25,900,000 Transaction … Continue reading “Ophthonix Inc Lands $25,900,000 Series A Funding Round”