Israel’s daily business newspaper Calcalist is reporting that San Diego’s Qualcomm has invested $7 million in modu, a modular mobile phone maker headed by the inventor of the USB flash drive. Founder and CEO Dov Moran started modu in 2007 in Kfar-Saba, Israel, after selling his previous company, msystems, to SanDisk in 2006 for $1.6 … Continue reading “Israel’s Modu Gets Venture Funding From Qualcomm”
Category: San Diego
Qualcomm Buys Multimedia Technology, SD Consortium Advances Biofuels Initiative, Biotech VCs Adapt, & More San Diego BizTech News
Before the economic downturn deepened last September, many venture capital firms maintained that their operations were unaffected by the overall economy. They’re not saying that anymore. VCs are reacting to hard times in different ways—and so are the startups and technology companies that make up the innovation economy. Some examples of how they are … Continue reading “Qualcomm Buys Multimedia Technology, SD Consortium Advances Biofuels Initiative, Biotech VCs Adapt, & More San Diego BizTech News”
Qualcomm Leads San Diego Patent Filings in Our Top 25 List
Which San Diego firms are the most inventive? When the 2008 year-end patent figures recently became available, we decided to find out. Xconomy is listing the top 25 patent winners in the San Diego region below, based on data provided by IFI Patent Intelligence of Wilmington, DE. Our compilation includes a few surprises. San Diego-based Qualcomm … Continue reading “Qualcomm Leads San Diego Patent Filings in Our Top 25 List”
BeneChill, Inc. Secures $3,000,000 New Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=c1ff9f68-2a25-4a30-9b00-960811382790&Preview=1 Date 1/26/2009 Company Name BeneChill, Inc. Mailing Address 10060 Carroll Canyon Rd San Diego, CA 92131 Company Description Benechill Corp. has been working towards reducing tissue damage in patients with cerebral ischemia by rapidly and non-invasively cooling targeted areas of the body. Website http://www.benechill.com Transaction Type Venture Equity Transaction Amount $3,000,000 … Continue reading “BeneChill, Inc. Secures $3,000,000 New Round”
Biogen Idec Rival Succeeds in Trial of Oral Pill for Multiple Sclerosis
One of Biogen Idec’s competitors in the world of multiple sclerosis drugs reported some success today. Germany’s Merck KGaA says its experimental oral pill reached its goal of reducing the rate of MS flare-ups for patients in a two-year study. Merck KGaA said patients on a low dose of its drug, cladribine, had a 58 percent … Continue reading “Biogen Idec Rival Succeeds in Trial of Oral Pill for Multiple Sclerosis”
SkinMedica Sues Histogen Over Trade Secrets
Privately held SkinMedica of Carlsbad says it has filed a patent infringement lawsuit against new San Diego startup Histogen and Gail Naughton, its founder and CEO. The lawsuit, which was filed in federal court in San Diego, alleges that Histogen and its affiliated Histogen Aesthetics business infringe on two SkinMedica patents related to proprietary conditioned … Continue reading “SkinMedica Sues Histogen Over Trade Secrets”
The Active Network Expands By Acquiring Campground Reservation Company
San Diego’s The Active Network, in another example of its growth-by-acquisition strategy, announced it is buying the online campground reservation provider ReserveAmerica from New York-based IAC. IAC, (NASDAQ: [[ticker:IACI]]) the conglomerate led by Barry Diller which operates more than 35 Internet businesses , agreed to sell its 100 percent ownership stake in ReserveAmerica to Active … Continue reading “The Active Network Expands By Acquiring Campground Reservation Company”
From the Valley of the Green Giant, Google Energy Czar Lowers the Heat
Bill Weihl, Google’s green energy czar, says the computer you’re likely using now is a bit like a toaster. It takes in energy and produces heat. A typical network server is more energy-efficient, but Weihl says it’s usually loaded with cheap parts and still wastes a third of the power it consumes, which emanates as … Continue reading “From the Valley of the Green Giant, Google Energy Czar Lowers the Heat”
E-Book Readers on the iPhone? They’re Not Quite Kindle Slayers Yet
Well, this is the first time I’ve written my weekly column while wearing a tuxedo. No, I’m not on my way home from an inauguration ball, or campaigning for higher style standards among reporters. As I write this, I’m getting ready to emcee Xconomy’s Battle of the Tech Bands 2. Our preparations for the event … Continue reading “E-Book Readers on the iPhone? They’re Not Quite Kindle Slayers Yet”
Optimer’s Second Drug, for Traveler’s Diarrhea, Follows Fast Behind Lead “C. Diff” Antibiotic
San Diego’s Optimer Pharmaceuticals had its breakout moment in November, when it showed its experimental drug could wipe out the dreaded C. Diff bacteria, a horrific, sometimes fatal form of diarrhea that people sometimes pick up in the hospital. What fewer people realize is Optimer (NASDAQ: [[ticker:OPTR]]) has another anti-diarrhea drug in the works that’s … Continue reading “Optimer’s Second Drug, for Traveler’s Diarrhea, Follows Fast Behind Lead “C. Diff” Antibiotic”
mEgo Garners $2,500,000 New Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=e15203d7-b4af-4268-acb4-79a3c1929ff4&Preview=1 Date 1/23/2009 Company Name mEgo Mailing Address Undisclosed Los Angeles, CA 90000 Company Description A mEgo is a first-of-its-kind multimedia portable profile that allows you to share interactive, dynamic and highly personalized visual representations of yourself across the web. mEgo solves the problem of having to create and maintain different profiles … Continue reading “mEgo Garners $2,500,000 New Financing”
International Stem Cell Corporation Secures $1,000,000 New Funding Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=690c0180-21ac-4bdf-a0cd-f0968048490e&Preview=1 Date 1/23/2009 Company Name International Stem Cell Corporation Mailing Address 2595 Jason Court Oceanside, CA 92056 Company Description The Company was founded for the specific purposes of solving key problems in the emerging field of regenerative medicine, cell availability and immune rejection. There are growing numbers of cell transplant therapies that … Continue reading “International Stem Cell Corporation Secures $1,000,000 New Funding Round”
Step Into the Light: Cloudy Venture Outlook With Patches of Sun
The economic forecast for 2009 has been gloomy so far, but can a new President with new iniatives in energy, cleantech, and tax and regulatory policies alter the economic barometer? David Titus of San Diego’s Windward Ventures moderates a panel of venture capitalists who offer their outlook. The panelists are Dixon Doll, chairman of the … Continue reading “Step Into the Light: Cloudy Venture Outlook With Patches of Sun”
Drug Development in a “Capital Constrained” Economy
Three experienced biotech executives will share their insights on how drug development can be distributed among multiple partners. Such partnerships can include small biotech ventures, large pharmaceutical companies, contract research organizations and even contract manufacturers. You can register online here.
Innovation on a Shoe String
Kenneth P. Morse, managing director of the MIT Entrepreneurship Center, leads a panel discussion about hard economic times and how entrepreneurs can survive and even thrive. They also will talk about innovation on a shoe string, and the critical factors that contribute to entrepreneurial success. You can register online here.
Meritage Starts Study of Inflammatory Disease
Meritage Pharma, a San Diego-based drug developer, said today it has started a mid-stage clinical trial of an experimental drug for an inflammatory condition of the esophagus, called eosinophilic esophagitis. The trial will enroll 80 children and young adults on three different doses of the Meritage drug or a placebo. We profiled this company’s technology … Continue reading “Meritage Starts Study of Inflammatory Disease”
Axikin Raises $3M After Spinning Out From Actimis
San Diego-based Axikin Pharmaceuticals has reeled in $3 million in a first round of venture financing to advance its young pipeline of drugs to treat respiratory and inflammatory diseases. The investors are Sanderling Ventures, which has offices in San Diego and San Mateo, CA, and Mitsui & Co. Venture Partners in New York, according to … Continue reading “Axikin Raises $3M After Spinning Out From Actimis”
Biotech VCs Look For Ways to Make Deals Work in the Downturn
A new wave of pragmatism has settled over the biotech industry, judging from the comments yesterday by three San Diego-based venture capitalists. Venture capital firms that specialize in biomedical investments still expect to do deals despite the downturn this year, but they are adopting new strategies to minimize risks and maximize returns.It was a theme … Continue reading “Biotech VCs Look For Ways to Make Deals Work in the Downturn”
Overland Storage Unveils New Data-Storage Initiative
After slashing 17 percent of its workforce and making other cutbacks, San Diego’s Overland Storage (NASDAQ: [[ticker:OVRL]]) announced today what CEO Vern LoForti describes as a significant initiative in the company’s turnaround effort. The longtime maker of data storage equipment has been reeling since 2005, when Hewlett-Packard said it was phasing out purchases of tape-based storage … Continue reading “Overland Storage Unveils New Data-Storage Initiative”
From Merger of Invitrogen and Applied Biosystems, Life Technologies Plans to Grow From San Diego Base
Companies usually try to say all the right things about win-win situations when they strike merger deals, but it’s always good to check back after a few months to see if the honeymoon is over. So last week I tracked down Mark Stevenson, one of the principals involved in the November merger of Carlsbad, CA-based … Continue reading “From Merger of Invitrogen and Applied Biosystems, Life Technologies Plans to Grow From San Diego Base”
Axikin Pharmaceuticals, Inc. Obtains $3,000,000 Series A Funding
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=bc160860-9ed6-462b-b51a-68cb96802c2a&Preview=1 Date 1/22/2009 Company Name Axikin Pharmaceuticals, Inc. Mailing Address 10835 Road To The Cure San Diego, CA 92121 Company Description The company is developing unspecified pharmaceutical technology. Website Undisclosed Transaction Type Venture Equity Transaction Amount $3,000,000 Transaction Round Series A Proceeds Purposes Proceeds purposes were not disclosed. M&A Terms Venture Investor … Continue reading “Axikin Pharmaceuticals, Inc. Obtains $3,000,000 Series A Funding”
NonStop Riot LLC Secures New Funding Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=792071a4-3f84-4984-a898-f7b92feb7041&Preview=1 Date 1/22/2009 Company Name NonStop Riot LLC Mailing Address 4316 Melrose Avenue Hollywood, CA 90029 Company Description NonStop Riot is a US music branding agency that helps consumer brands break through by leveraging music as a strategy NOT just a tactic. Utilizing emerging technology platforms, artist, label & brand relationships, and … Continue reading “NonStop Riot LLC Secures New Funding Round”
Obama’s Top-Three Priorities: The Economy, The Economy, and The Economy
Well, we have seen something that I thought I would never see in my lifetime—the elevation of an African-American man to the highest elected office in our land: President of the United States. While we all bask in the afterglow of this momentous occasion, we are in the middle of our most serious recession in decades. … Continue reading “Obama’s Top-Three Priorities: The Economy, The Economy, and The Economy”
Qualcomm Protests Digital TV Delay
President Obama’s proposed delay of the Feb. 17 conversion to digital television has triggered a protest from San Diego’s Qualcomm (NASDAQ: [[ticker:QCOM]]). According to this report, a letter signed by CEO Paul Jacobs sent Monday to House and Senate leaders says Qualcomm has spent “hundreds of millions of dollars” preparing to launch its MediaFLO video service in 15 new … Continue reading “Qualcomm Protests Digital TV Delay”
Nanogen Seeks Other Suitors
San Diego diagnostics firm Nanogen (NASDAQ:[[ticker:NGEN]]) says that it has clearance to seek options other than its announced merger with French diagnostics company Elitech Group. (Nanogen is noteworthy in part because of its well-known CEO, Howard Birndorf, who co-founded Hybritech, Gen-Probe, and Ligand Pharmaceuticals.) Nanogen now has permission to pursue such options as a restructured … Continue reading “Nanogen Seeks Other Suitors”
San Diego Algae Biofuels Industry Gains Steam With R&D Consortium
The San Diego region is undertaking a broad initiative to accelerate development of algae-to-biofuels technology by establishing a new organization, the San Diego Center for Algae-based Biofuels, or SD-CAB. The center is being organized by a consortium of academic and industry researchers and represents a regional effort to make sustainable algae-based biofuel production a reality … Continue reading “San Diego Algae Biofuels Industry Gains Steam With R&D Consortium”
Regulus, Leading Developer of MicroRNA Drugs, Prepares to Get Independence from Alnylam and Isis
Regulus Therapeutics has shown it can crawl, now it’s ready to walk. The fledgling Carlsbad, CA-based company is taking steps to raise a large round of private investment capital, and become a more independent company developing a new breed of microRNA-based drugs. Regulus plans to raise “a very respectable amount” of capital from private investors, … Continue reading “Regulus, Leading Developer of MicroRNA Drugs, Prepares to Get Independence from Alnylam and Isis”
Five Questions for the Future of Biotech in San Diego, Part 2
Yesterday, we ran a couple of in-depth interviews about the future of biotech with two San Diego CEOs—Optimer Pharmaceuticals CEO Michael Chang and Phenomix CEO Laura Shawver. I asked them the same five questions about the outlook of the industry that I asked leaders in Boston, so you can compare the bi-coastal views of the … Continue reading “Five Questions for the Future of Biotech in San Diego, Part 2”
Obama Inauguration Breaks Streaming-Media Records
This morning, we gave you a guide to online outlets with live streaming video of President Obama’s swearing-in. This afternoon, we can report that record-breaking audiences accessed these streams, at least as far as Cambridge, MA-based networking leader Akamai was able to measure. At the height of Internet traffic at approximately 12:15 p.m. Eastern time … Continue reading “Obama Inauguration Breaks Streaming-Media Records”
Metabasis Therapeutics Restructures, Cuts 38 From Staff
After replacing its CEO last month, San Diego-based Metabasis Therapeutics (NASDAQ: [[ticker:MBRX]]) says it is laying off 38 employees, or about 43 percent of its workforce. (An update to the San Diego layoff tracker is here.) “Given the tough market conditions, we have decided to refine our research and development focus and increase our efforts … Continue reading “Metabasis Therapeutics Restructures, Cuts 38 From Staff”
Medtronic Acquires Ablation Frontiers, Sequenom and Exact Sciences Go a Second Round, Qualcomm CEO Reflects on Strategy, & More San Diego BizTech News
It was like a real-world version of a TV game show in San Diego last week, with some companies announcing a “deal”—and some saying “no deal.” Let’s get on with the show: —Minnesota’s Medtronic (NYSE: [[ticker:MDT]]) gladdened the hearts of investors in Ablation Frontiers of Carlsbad, CA, by agreeing to pay $225 million upfront to … Continue reading “Medtronic Acquires Ablation Frontiers, Sequenom and Exact Sciences Go a Second Round, Qualcomm CEO Reflects on Strategy, & More San Diego BizTech News”
Quidel Hires New CEO
Quidel, the San Diego-based maker of diagnostic tests, said today it has hired Douglas Bryant as CEO. Bryant, 51, was chief operating officer of Luminex, where he oversaw its molecular diagnostics business. He will start with a minimum base salary of $450,000, plus an annual bonus worth 80 percent to 120 percent of his salary, … Continue reading “Quidel Hires New CEO”
Qualcomm Buys AMD Handheld Assets
San Diego-based wireless products firm Qualcomm (NYSE:[[ticker:QCOM]]) says that it has purchased graphics and multimedia technology assets from AMD (NYSE:[[ticker:AMD]]) for total cash consideration of $65 million. The assets were previously part of Sunnyvale, CA-based AMD’s handheld business, and Qualcomm says it plans to extend offers to some AMD employees who have been part of … Continue reading “Qualcomm Buys AMD Handheld Assets”
The Fourth Quarter Collapse: VC Funding Down Sharply in San Diego
The early returns on venture capital investments that came in over the weekend from Dow Jones VentureSource pretty much confirmed what we’ve been hearing. VC firms are battening down the hatches to weather the economic downturn. The nationwide survey showed venture funding in new companies declined by 30 percent during the last three months of … Continue reading “The Fourth Quarter Collapse: VC Funding Down Sharply in San Diego”
Five Questions for the Future of Biotech in San Diego, Part 1
Biotech watchers were in a grim mood last week at the JP Morgan Healthcare Conference in San Francisco, but it didn’t strike me as quite as apocalyptic as advertised. I’ve come to that conclusion after doing some unscientific polling of San Diego biotech leaders (and a few in Boston) last week at the industry’s biggest … Continue reading “Five Questions for the Future of Biotech in San Diego, Part 1”
Geni.com Obtains $5,000,000 Series C Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=00e063b6-904c-49e7-b53d-dc807756555e&Preview=1 Date 1/19/2009 Company Name Geni.com Mailing Address 9229 Sunset Blvd West Hollywood, CA 90069 Company Description Geni lets you create a family tree through our fun simple interface. When you add a relative’s email address, he or she will be invited to join your tree. That relative can then add other … Continue reading “Geni.com Obtains $5,000,000 Series C Round”
Taking Monday On
Posting will be light between now and Tuesday as we’ll be observing Monday’s King Day of Service in honor of Dr. Martin Luther King, Jr., who would have turned 80 yesterday. If you’d like to do some volunteering to mark the occasion, or if you’re hosting a service event and need volunteers, President-elect Obama has … Continue reading “Taking Monday On”
Qualcomm CEO Jacobs Talks Candidly About Innovation and Strategy
Constrained by legal restrictions and zealously protected by their handlers, the CEOs of Fortune 500 companies are rarely enlightening when they make public appearances. But Qualcomm (NASDAQ: [[ticker:QCOM]]) CEO Paul Jacobs delivered a close approximation of candor this morning in what was billed as a keynote presentation at the Red Herring Global 100 summit, which … Continue reading “Qualcomm CEO Jacobs Talks Candidly About Innovation and Strategy”
San Diego’s First Xconomy Forum: Physics for Future Presidents
The United States will have a new president in four days. But if it were you, how should science and technology guide you in making key decisions in areas like energy, the environment, and fighting terrorism? Should we invest heavily in solar power or electric cars? What is the real potential of nuclear technology—either as … Continue reading “San Diego’s First Xconomy Forum: Physics for Future Presidents”
Have Xtra Fun Making Movies with Xtranormal
This week’s column comes partly in the form of a digital cartoon. Click on the play button below to watch it. (Or if you’re reading this story via an RSS feed or e-mail newsletter, click this link to view the video—then come back here). Clever, eh? Of course, it’s just fiction. I still have a … Continue reading “Have Xtra Fun Making Movies with Xtranormal”
For Whom The Bellwether Tolls: Cymer Enacts More Cuts
In a grim portent for the semiconductor sector, San Diego’s Cymer (NASDAQ: [[ticker:CYMI]]) says its fourth-quarter revenue will be about $100 million—at the low end of its guidance—and additional cutbacks will be necessary. Cymer makes specialized and extremely precise “deep ultraviolet” laser systems that are used as light sources in the photolithographic process in which … Continue reading “For Whom The Bellwether Tolls: Cymer Enacts More Cuts”
Vertex Envisions a Single Massachusetts Campus and a Bold Future
Vertex Pharmaceuticals isn’t going to move its labs and offices anywhere, at least in the near future. The Cambridge, MA-based biotech company has extended leases at two main buildings in Cambridge until 2015. The leases will keep Vertex’s headquarters at 130 Waverly Street, and in other space at 200 Sidney Street through 2015, according to … Continue reading “Vertex Envisions a Single Massachusetts Campus and a Bold Future”
Cypress Bioscience Shares Soar on News of FDA Approval
Cypress Bioscience (NASDAQ: [[ticker:CYPB]]) shares are up sharply today after the San Diego drug developer and its New York partner announced last night the Food and Drug Administration approved their drug for fibromyalgia. As Luke reported in October, Cypress started down this path in 2001, when it licensed rights to milnacipran, (Salvella) a drug approved outside … Continue reading “Cypress Bioscience Shares Soar on News of FDA Approval”
The Father of the Cell Phone on the Future of His Offspring
At a moment when it seemed like the San Diego Chargers still had a chance to win Sunday’s NFL playoff game against the Pittsburgh Steelers, my daughter’s cell phone issued a high-pitched “beep-beep-beep.” Some guy named “Rio” in Pittsburgh sent a photo of a black Steelers helmet to her cell phone. The image was accompanied … Continue reading “The Father of the Cell Phone on the Future of His Offspring”
NuVasive Invests in Synthetic Bone Maker
NuVasive, (NASDAQ: [[ticker:NUVA]]), the San Diego medical device company developing surgical treatments for the spine, says it’s acquiring a stake in Progentix Orthobiology BV, a Dutch company developing calcium phosphate putty for use as a synthetic bone substitute. NuVasive is making an initial equity investment of $10 million, and providing Progentix a $5 million loan, … Continue reading “NuVasive Invests in Synthetic Bone Maker”
VCs to Entrepreneurs: Outlook for Software Startups Is As Good—or Bad—As Ever
When the moderator for a panel discussion about the venture outlook for 2009 begins by saying, “Everyone knows it’s really bleak right now,” it’s a safe bet you’re not at a chapter meeting for Optimist International. But a venture overview yesterday organized by the San Diego Software Industry Council seemed to run against the current … Continue reading “VCs to Entrepreneurs: Outlook for Software Startups Is As Good—or Bad—As Ever”
Sequenom Getting Aggressive in Bid to Buy Exact Sciences
San Diego diagnostics firm Sequenom (NASDAQ:[[ticker:SQNM]]) says it plans to acquire all shares of cancer test maker Exact Sciences’ common stock (NASDAQ:[[ticker:EXAS]]), despite a rejection from Exact’s board of directors to Sequenom’s recent buyout offer. Sequenom proposes to buy each share of Marlborough, MA-based Exact for $1.50 worth of Sequenom common stock, a total value … Continue reading “Sequenom Getting Aggressive in Bid to Buy Exact Sciences”
SocialVibe Receives $8,000,000 Series B Funding Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=85204b48-b072-46e2-8419-390e34af2dcb&Preview=1 Date 1/14/2009 Company Name SocialVibe Mailing Address 9000 Sunset Blvd West Hollywood, CA 90069 Company Description The company develops advertising solutions within social networks. Website http://www.socialvibe.com Transaction Type Venture Equity Transaction Amount $8,000,000 Transaction Round Series B Proceeds Purposes Proceeds purposes were not disclosed. M&A Terms Venture Investor Jafco Ventures America … Continue reading “SocialVibe Receives $8,000,000 Series B Funding Round”
United Sample, Inc. Secures $3,000,000 Series B Funding
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=4f690d5d-3718-4f1e-b582-c0e6382ef8a2&Preview=1 Date 1/14/2009 Company Name United Sample, Inc. Mailing Address 16501 Ventura Blvd Encino, CA 91436 Company Description The company is developing an online sampling service. Website Undisclosed Transaction Type Venture Equity Transaction Amount $3,000,000 Transaction Round Series B Proceeds Purposes The new funds will be used to grow sales, increase marketing … Continue reading “United Sample, Inc. Secures $3,000,000 Series B Funding”
Nirvanix Replaces Its CEO
San Diego’s Nirvanix, a venture-backed company that operates online data storage as a service, says it changed CEOs, replacing the entrepreneurial CEO Patrick Harr for enterprise software CEO Jim Zierick. Harr was previously the CEO of Streamload, another data storage service, and Preventsys, a network security startup acquired by McAfee in 2006. Zierick was previously … Continue reading “Nirvanix Replaces Its CEO”