San Diego’s biotech executives may be hearing billionaire investor Carl Icahn’s name more often than they care to. We begin our roundup today with Icahn, who has been increasing his stake in and demanding changes at San Diego’s Amylin Pharmaceuticals (NASDAQ: [[ticker:AMLN]]), also wants to shake up management at Biogen Idec, which is based in Cambridge, … Continue reading “SynergEyes Gets $13.3M, Carl Icahn Aims to Shake Up BiogenIdec Board, Layoffs Mount, & More San Diego BizTech News”
Category: San Diego
Sendio, Inc. Receives $3,000,000 Series B Funding
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=a0043da4-c2b7-42cd-a6ba-375938ce01fa&Preview=1 Date 2/9/2009 Company Name Sendio, Inc. Mailing Address 1176 Main Street Irvine, CA 92614 Company Description Sendio builds a box that kills unwanted emails with Sender Address Verification , which empowers users by transparently accepting messages based on who sent them, rather than relying on filters to reject unwanted messages. Unwanted … Continue reading “Sendio, Inc. Receives $3,000,000 Series B Funding”
Cohu Eliminates 60 Jobs
San Diego’s Cohu (NASDAQ: [[ticker:COHU]]), which makes test-handling equipment for semiconductor manufacturers, disclosed some “headcount reductions,” without being more specific, when it reported its fourth-quarter financial results on Thursday. This afternoon, I tracked down Cohu chief financial officer Jeffrey Jones, who said the company laid off 60 employees, which consisted of roughly 40 workers in … Continue reading “Cohu Eliminates 60 Jobs”
Hybrid Contact Lens-Maker SynergEyes Gets $13.3M in Venture Round
During a recent discussion on the outlook in San Diego for venture funding in biotech, Sofinnova Ventures’ David Kabakoff noted that one way VCs are coping with the downturn is by broadening the syndication of their deals. That’s apparent in the $13.3 million in Series C funding announced today by SynergEyes, a Carlsbad, CA, startup that’s … Continue reading “Hybrid Contact Lens-Maker SynergEyes Gets $13.3M in Venture Round”
Physics For Presidents—And the Voters Who Elect Them! Get Ready for Xconomy’s First San Diego Event
If President Obama ever has a question about the asteroid that killed the dinosaurs, he can just pick up his Presidential Blackberry and call or e-mail Secretary of Energy Steven Chu, the Nobel Prize-winning physicist. Of course, the President of the United States could just as easily call Richard A. Muller—the U.C. Berkeley professor who … Continue reading “Physics For Presidents—And the Voters Who Elect Them! Get Ready for Xconomy’s First San Diego Event”
Carl Icahn Aims to Stick “For Sale” Sign on Biogen Idec Lawn Again
Billionaire investor Carl Icahn is making another move to gain influence over Biogen Idec. Icahn told the Cambridge, MA-based biotech company he is nominating a slate of four new directors for election to the company board at this year’s annual meeting, and he wants to increase the size of the board from 12 to 13 … Continue reading “Carl Icahn Aims to Stick “For Sale” Sign on Biogen Idec Lawn Again”
City’s Study of Solar Permit Fees Sets Off Cleantech Alarms
Earlier this week, I got an e-mail from an indignant solar panel installer who had heard the City of San Diego is planning to raise its fees for solar permits and inspections. “This is outrageous at a time when city, state and federal leaders are doing everything possible to increase the deployment of solar energy.” … Continue reading “City’s Study of Solar Permit Fees Sets Off Cleantech Alarms”
How I Declared E-Mail Bankruptcy, and Discovered the Bliss of an Empty Inbox
I’m not one of those people who thinks you can measure a person’s power, talent, or importance by the number of e-mails or phone calls they get every day. So it’s not a boast—indeed, it’s more like an embarrassed confession—when I say that by early January, my Gmail inbox had swelled to almost 15,000 messages. … Continue reading “How I Declared E-Mail Bankruptcy, and Discovered the Bliss of an Empty Inbox”
SynergEyes, Inc. Receives $13,300,000 Series C Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=43a963cd-e286-44f3-9743-3920ba04eab0&Preview=1 Date 2/6/2009 Company Name SynergEyes, Inc. Mailing Address 2232 Rutherford Road Carlsbad, CA 92008 Company Description SynergEyes® hybrid contact lenses offer the best of both worlds. The soft skirt offers all day comfort while the “breathable” rigid center keeps eyes healthy while providing crisp, clear vision…even at night. Website http://www.synergeyes.com Transaction … Continue reading “SynergEyes, Inc. Receives $13,300,000 Series C Round”
Zadspace Inc Garners $1,400,000 Series A Funding Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=b14ee82c-77bc-4403-bf74-0e5ef05e407f&Preview=1 Date 2/6/2009 Company Name Zadspace Inc Mailing Address 214 Main Street El Segundo, CA 90245 Company Description Zadspace Inc is a provider of targeted advertising and product placement solutions.Zadspace was founded in 2006 by Todd Outten and James Ho. A venture-backed company, we have filed two utility patents surrounding our highly … Continue reading “Zadspace Inc Garners $1,400,000 Series A Funding Round”
Vertex CEO Josh Boger Retiring In May; Matthew Emmens To Fill Role
(Update: The last three paragraphs were added after a conference call with reporters.) Vertex Pharmaceuticals founder, president and CEO Josh Boger, one of the best-known and more colorful executives in the biotech industry, is retiring on May 23. He will be replaced by Vertex director Matthew Emmens, the company said late this afternoon in a … Continue reading “Vertex CEO Josh Boger Retiring In May; Matthew Emmens To Fill Role”
TriTech Gets Public Safety Contract
The City of San Antonio, TX, has awarded a $14.7 million contract to San Diego’s TriTech Software Systems to develop a comprehensive emergency communications system for the region. TriTech says it will install its computer-aided dispatch, mobile data and records management system for the Alamo Region Public Safety System. TriTech’s technology will coordinate law enforcement, … Continue reading “TriTech Gets Public Safety Contract”
X Prize Foundation Awards $25K for Best “Crazy Green Idea” Video
What began in Boston last September as a contest to generate ideas for a new “Energy X Prize” has ended in El Segundo, CA, with two UC Irvine students winning the $25,000 award. The X Prize Foundation, which organized the competition, identified the winners today as second-year undergrads Kyle Good of Temecula, CA, and Bryan … Continue reading “X Prize Foundation Awards $25K for Best “Crazy Green Idea” Video”
Venrock’s Bryan Roberts: Shakeout Is Coming to VCs, Not Just Companies
As venture-backed tech and life sciences companies around the country are hunkering down to figure out how to survive the downturn, the same can be said for the venture backers themselves. That was one of the interesting observations I heard during a recent interview in San Francisco with Bryan Roberts, a partner who specializes in … Continue reading “Venrock’s Bryan Roberts: Shakeout Is Coming to VCs, Not Just Companies”
Zag.com Garners $37,400,000 Series E Funding
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=a52a824e-c685-46c1-8c53-104674fc1a53&Preview=1 Date 2/5/2009 Company Name Zag.com Mailing Address 525 Broadway, 3rd Floor Santa Monica, CA 90401 Company Description Zag is a technology and services company that operates a robust auto shopping, research and pricing technology that allows users to get the information and up-front pricing they need in order to be in … Continue reading “Zag.com Garners $37,400,000 Series E Funding”
Solar Contractor Plans Mid-Atlantic Expansion With $14M Infusion
Privately held Borrego Solar Systems, which designs and installs solar power systems, said today it has received $14 million in venture funding to fuel its expansion into the Mid-Atlantic Region. The contractor based in El Cajon, CA, (about 15 miles East of San Diego) currently installs rooftop photovoltaic systems on commercial, residential and government buildings, … Continue reading “Solar Contractor Plans Mid-Atlantic Expansion With $14M Infusion”
Qualcomm’s Best-Laid Plans for Cell Phone TV Service
Updated Feb. 4 at 3:55 p.m. PST with the House of Representatives approving a four-month delay in DTV conversion. See below for more details. At the Consumer Electronics Show in January, Qualcomm’s MediaFlo subsidiary unveiled plans to nearly double its FLO TV service for cell phones, by expanding into 108 U.S. markets this year. The San … Continue reading “Qualcomm’s Best-Laid Plans for Cell Phone TV Service”
Phenomix Aims to Grab Piece of $10 Billion Diabetes Market
San Diego-based Phenomix isn’t one to shy away from a fight. This privately held biotech company with just 50 employees is forging ahead with a new drug for diabetes, one of the most competitive, and crowded marketplaces in the entire pharmaceutical industry. As long as the diabetes epidemic rages on like a “runaway train” in … Continue reading “Phenomix Aims to Grab Piece of $10 Billion Diabetes Market”
Borrego Solar Systems Secures $14,000,000 New Funding Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=94884b10-3f14-4fe2-9695-061b343df156&Preview=1 Date 2/4/2009 Company Name Borrego Solar Systems Mailing Address 1365 N. Johnson Avenue El Cajon, CA 92020 Company Description Borrego Solar is a solar electric contractor specializing in commercial, residential and public sector turnkey, grid–connected solar electric systems. Website http://www.borregosolar.com Transaction Type Venture Equity Transaction Amount $14,000,000 Transaction Round Undisclosed Proceeds … Continue reading “Borrego Solar Systems Secures $14,000,000 New Funding Round”
After the Bubble Burst, Mike Krenn Built a Venture Pipeline
While Mike Krenn is a person of dignity and influence, I still have vivid memories of him almost nine years ago, dressed like a demented Riddler from an episode of Batman. Not the dark and moody Batman in favor nowadays. I mean the ludicrous, campy Batman of weekday television, circa 1966. The date was March … Continue reading “After the Bubble Burst, Mike Krenn Built a Venture Pipeline”
ReShape Medical Garners $20,000,000 Series B Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=45a308dd-b1eb-4305-b08a-13bc05fe54a5&Preview=1 Date 2/3/2009 Company Name ReShape Medical Mailing Address 100 Calle Iglesia San Clemente, CA 92672 Company Description The company is developing a medical device to treat obesity. Website http://reshapemedical.com Transaction Type Venture Equity Transaction Amount $20,000,000 Transaction Round Series B Proceeds Purposes Proceeds purposes were not disclosed. M&A Terms Venture Investor … Continue reading “ReShape Medical Garners $20,000,000 Series B Round”
Hollis-Eden Lays Off One-Third in “Aggressive” Cost-Cutting
San Diego’s Hollis-Eden Pharmaceuticals (NASDAQ: [[ticker:HEPH]]) said today it’s laying off 20 employees—a third of its workforce—as part of an aggressive cost-cutting plan to preserve capital until 2011. The San Diego layoff tracker has been updated here. Hollis-Eden specializes in developing small molecule compounds based on adrenal steroid hormones and that are intended to restore … Continue reading “Hollis-Eden Lays Off One-Third in “Aggressive” Cost-Cutting”
THQ Closes San Diego Office to Focus Wireless Game Development on Smartphones
Video game maker THQ (NASDAQ: [[ticker:THQI]]) confirmed today the company is closing down its wireless game development unit in San Diego and laying off 31 employees. (Check San Diego’s updated layoff tracker here.) The cutback is part of a broader consolidation of wireless game development that includes shutdowns of similar operations in the United Kingdom … Continue reading “THQ Closes San Diego Office to Focus Wireless Game Development on Smartphones”
Creating Successful Apps for the Apple iPhone
Facedouble.com’s Alex Shah provides a case study in what to do and what not to do when it comes to developing and marketing an iPhone app. The seminar, sponsored by the San Diego Software Industry Council, is open to members and non-members. But you must pre-register here.
How Did They Do It? The Breakout Companies of 2008
The San Diego Venture Group has recruited a group of venture capitalists, media, and key service providers to nominate companies that stood out in 2008 for local “Breakout Company of the Year.” The SDVG board will then choose two winners—one life sciences venture and one technology venture. They will both be announced at the breakfast … Continue reading “How Did They Do It? The Breakout Companies of 2008”
Commercial Leasing Strategies for Startups
Experts in the San Diego commercial real estate market review current data on availability, rental rates, and tactics that can help nontraditional companies limit their exposure. The event is intended for business leaders who make commercial leasing decisions. Registration begins at 7:30 a.m., or register online at Connect.
Plot Thickens at Amylin: Eastbourne Capital Enters Power Play With Carl Icahn
Carl Icahn isn’t the only one who sees an opportunity to shake things up at San Diego-based Amylin Pharmaceuticals. Today, Eastbourne Capital Management announced it, too, plans to nominate a slate of five new directors for election to the company’s 12-member board at the upcoming annual meeting. Eastbourne, which says it owns 12.5 percent of … Continue reading “Plot Thickens at Amylin: Eastbourne Capital Enters Power Play With Carl Icahn”
Greening the Internet in a Carbon-Constrained World
This year marks a turning point in the debate on global climate change. The focus of the discussion is rapidly moving from a scientific analysis of how human activity effects climate change to a political process on how best to regulate greenhouse gas emissions. California is leading this shift with its 2006 Assembly Bill 32 (AB32) … Continue reading “Greening the Internet in a Carbon-Constrained World”
Qualcomm’s MediaFLO Depends on DTV Switchover, Carl Icahn Raises Stakes for Amylin, Slacker Gets $5M, & More San Diego BizTech News
With patents counted, investments disclosed, and financial results reported, San Diego wireless giant Qualcomm seemed to dominate the Xconomy news last week. There were plenty of other developments, though, in life sciences, robotics, and other sectors of the innovation economy. Read on! —By necessity, a few interesting nuggets got left out when we compiled our … Continue reading “Qualcomm’s MediaFLO Depends on DTV Switchover, Carl Icahn Raises Stakes for Amylin, Slacker Gets $5M, & More San Diego BizTech News”
SG Biofuels, Emerging From Stealth, Aims to Make Biodiesel From Hardy Shrub
Another San Diego biofuel company is coming out of stealth mode today. SG Biofuels specializes in developing Jatropha, a hardy shrub found throughout Latin America that produces oval-shaped seeds that can be used to produce biodiesel and other petroleum feedstocks. SG plans to make its public debut this afternoon in a presentation at the 2009 … Continue reading “SG Biofuels, Emerging From Stealth, Aims to Make Biodiesel From Hardy Shrub”
Gen-Probe Buys UK Diagnostics Company
San Diego-based Gen-Probe (NASDAQ: [[ticker:GPRO]]) says it’s buying Tepnel Life Sciences, a British medical diagnostics company, for about $132.2 million. Gen-Probe chairman and CEO Hank Nordoff says the buyout expands Gen-Probe’s focus on nucleic acid tests by adding Tepnel’s expertise in genetic tests for cystic fibrosis, Down syndrome and inherited levels of high cholesterol. Gen-Probe’s … Continue reading “Gen-Probe Buys UK Diagnostics Company”
Burnham Gets $10M Donation
Conrad Prebys, a San Diego real estate investor and philanthropist, is giving $10 million to the Burnham Institute for Medical Research to support Burnham’s drug discovery center. After getting a $98 million grant in September from the National Institutes of Health, Burnham’s renamed Conrad Prebys Center for Chemical Genomics has become part of the largest … Continue reading “Burnham Gets $10M Donation”
Kyocera Cuts 250 Wireless Jobs
Kyocera plans to lay off 250 employees from its mobile phone division in San Diego, where the Japanese electronics giant maintains its North American headquarters. The cutbacks, reported today in the San Diego Union-Tribune, resulted from the economic downturn and a consolidation of wireless engineering functions in Japan following Kyocera’s purchase of Sanyo’s cell phone unit for … Continue reading “Kyocera Cuts 250 Wireless Jobs”
VC Group Plots Familiar Strategy For Industry Recovery
The venture capital model might not be completely broken, but the chairman of the National Venture Capital Association says it needs to be fixed. With only six venture-backed IPOs in 2008—the worst showing since 1976—NVCA chairman Dixon Doll says the venture industry needs to help restart stalled capital markets. Doll says the Virginia-based NVCA is … Continue reading “VC Group Plots Familiar Strategy For Industry Recovery”
WonderGlen Comedy Portal Designed to Plumb Internet’s Unreality, Says Karlin
I outed Ben Karlin. Not that way: he’s straight, at least judging from his mom’s foreword to Things I’ve Learned from Women Who’ve Dumped Me, the 2008 essay collection Karlin edited. I mean I outed him as the creator of WonderGlen, a painfully funny comedy website that appeared out of nowhere last October. Purporting to … Continue reading “WonderGlen Comedy Portal Designed to Plumb Internet’s Unreality, Says Karlin”
Venture Funding For Audiophiles: $5 Million Round Picks Up Slacker
Slacker, the San Diego startup that provides customized music streaming, is apparently no slouch when it comes to raising venture funding. The firm raised $5 million in bridge financing this week, based on a regulatory filing picked up by Dow Jones VentureWire and VentureDeal. Founded in 2004 and headed by former MusicMatch CEO Dennis Mudd, … Continue reading “Venture Funding For Audiophiles: $5 Million Round Picks Up Slacker”
Carl Icahn Makes Move on Amylin Pharmaceuticals
Carl Icahn has sized up one of San Diego’s biggest biotech companies, Amylin Pharmaceuticals, in the crosshairs. The famed billionaire investor said today he has bought up an 8 percent stake in the company, and that he intends to nominate a slate of five new directors to Amylin’s 12-member board. Icahn made the announcement today … Continue reading “Carl Icahn Makes Move on Amylin Pharmaceuticals”
Overland Names New CEO
San Diego data storage company Overland Storage (NASDAQ: [[ticker:OVRL]]) has named board member and former Snap Appliance CEO Eric Kelly as CEO. Vern LoForti, who was Overland’s president and CEO, will continue to serve as president. Kelly, a longtime computer and data storage executive, has worked closely with Overland’s management team to formulate its restructuring … Continue reading “Overland Names New CEO”
General Atomics’ Blue Brothers Get Inducted-And That’s a Good Thing
San Diego defense contractor SAIC has been described as “the largest company nobody’s ever heard of,” but it’s been hard to make that stick since the company’s IPO in 2006. No matter. Another San Diego government contractor qualifies as heir apparent for the title. The only issue is that nobody outside of the company knows … Continue reading “General Atomics’ Blue Brothers Get Inducted-And That’s a Good Thing”
Sequenom Blood Test for Down’s Syndrome Clears Higher Hurdle, Company Plots Aggressive Moves Toward Market
Sequenom CEO Harry Stylli vowed to me last fall that he is on a mission to build the “Google of Molecular Diagnostics” in San Diego. Now he has a new batch of clinical trial results in hand that has done nothing to diminish his audacious goal. The San Diego-based company (NASDAQ: [[ticker:SQNM]]) said last night … Continue reading “Sequenom Blood Test for Down’s Syndrome Clears Higher Hurdle, Company Plots Aggressive Moves Toward Market”
Qualcomm Dodges Bullet in Dispute Over Digital TV Conversion—For Now
Top executives at San Diego’s Qualcomm (NASDAQ: [[ticker:QCOM]]) must’ve breathed a sigh of relief today, when the U.S. House of Representatives defeated a bill that would have delayed a planned switch to digital TV on Feb. 17. The House vote against the delay followed a bill the Senate passed unanimously on Monday, which called for postponing … Continue reading “Qualcomm Dodges Bullet in Dispute Over Digital TV Conversion—For Now”
Exact Sciences Takes $24.5M Genzyme Deal, Sequenom to Drop Buyout Offer
Exact Sciences, a diagnostics firm that had been running low on cash, has sold its assets related to prenatal and reproductive health to big biotech Genzyme for $24.5 million—prompting Sequenom to end its pursuit to buy Exact in an all-stock deal valued at $41 million, according to statements from Exact and Sequenom. Saying it could … Continue reading “Exact Sciences Takes $24.5M Genzyme Deal, Sequenom to Drop Buyout Offer”
Navy to Test Northrop Grumman’s Robotic Helicopter
It has taken roughly 10 years, but a robotic helicopter created in San Diego by Northrop Grumman (NYSE: [[ticker:NOC]]) is finally nearing a critical test phase for the U.S. Navy. The unmanned aircraft, known as the Fire Scout, looks unremarkable, except for the fact that it has no windows. It is based on a small civilian … Continue reading “Navy to Test Northrop Grumman’s Robotic Helicopter”
Biocom or Biopol? San Diego’s Life Sciences Trade Group Aims to Build California Clout in D.C
Joe Panetta is spending more time on flights to Washington D.C. than ever before. Lobbying has always been part of his job in the decade he’s spent running Biocom, the trade association for San Diego’s life sciences industry. But now he’s under instructions from the Biocom board to make doubly sure industry interests are heard … Continue reading “Biocom or Biopol? San Diego’s Life Sciences Trade Group Aims to Build California Clout in D.C”
Websense, Growing Fast, Acquires Spam Filtering Web Service
San Diego’s Websense (NASDAQ: [[ticker:WBSN]]), which develops security software for corporate computer networks and other organizations, says it has acquired Defensio, a spam filtering Web service created by two Canadians. Defensio was founded outside of Montreal, QC, to address the vexing and time-consuming problem of managing spam in the comment areas of blogs and social … Continue reading “Websense, Growing Fast, Acquires Spam Filtering Web Service”
Slacker, Inc. Garners $5,000,000 New Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=f81465ed-dc2e-4df7-8c8f-0020b87a3bdc&Preview=1 Date 1/28/2009 Company Name Slacker, Inc. Mailing Address 16935 W. Bernardo Dr. San Diego, CA 92127 Company Description Slacker is a new kind of music company. We deliver personal radio that is customized for every listener. Slacker is effortless to use and the music is accessible at home, in the car, … Continue reading “Slacker, Inc. Garners $5,000,000 New Round”
Amylin Fourth-Quarter Byetta Sales Drop, Falling Short of Wall Street Estimates
Amylin Pharmaceuticals saw some dark days last fall, and now we can see it in its fourth-quarter earnings report. The San Diego-based biotech company said today sales of its biggest product, exenatide (Byetta) for diabetes, fell almost 8 percent compared with the same period a year earlier. Amylin (NASDAQ: [[ticker:AMLN]]) said after markets closed that … Continue reading “Amylin Fourth-Quarter Byetta Sales Drop, Falling Short of Wall Street Estimates”
San Diego’s Covario Rides Wave of Search Engine Marketing
I didn’t really know what to expect when I sat down with Covario CEO Russ Mann recently over a lunch of fajitas and enchiladas. Many CEOs adopt a kind of taciturn presence to maintain their command authority, but words gush from Mann. Ask a question, and he responds at length. Yet the most-succinct explanation of … Continue reading “San Diego’s Covario Rides Wave of Search Engine Marketing”
Pfizer-Wyeth Combo’s Impact on San Diego Biotech: Bad for Dealmaking, Good for Shareholders
The big story in pharmaceutical-and-biotech land yesterday was New York-based Pfizer’s $68 billion bid to acquire Madison, NJ-based Wyeth (NYSE: [[ticker:WYE]]). Wyeth is known for having more biotech expertise than many of its Big Pharma brethren, generating billions in sales from biotech products like its pneumococcal conjugate vaccine (Prevnar) for infants, as well as its … Continue reading “Pfizer-Wyeth Combo’s Impact on San Diego Biotech: Bad for Dealmaking, Good for Shareholders”
Sequenom Buys Small Diagnostic Maker
Sequenom, the San Diego-based developer of a non-invasive prenatal test for Down Syndrome, said today it has acquired Ann Arbor, MI-based SensiGen for $8.7 million, plus potential milestones. The deal gives Sequenom (NASDAQ: [[ticker:SQNM]]) molecular diagnostics for human papillomavirus, lupus, chronic kidney disease, and inflammatory bowel disease. The purchase is part of Sequenom’s strategy to … Continue reading “Sequenom Buys Small Diagnostic Maker”