Category: San Diego

Metaplace Secures $6,700,000 Series B Financing Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=6ba367da-5682-41e8-80da-b292dc58f9e1&Preview=1 Date 10/22/2008 Company Name Metaplace Mailing Address Undisclosed San Diego, CA 92121 Company Description Metaplace is the world’s first open platform that harnesses the power of the Web to allow anyone to create, build and live in their own unique virtual world. Our vision is to enable users to build a … Continue reading “Metaplace Secures $6,700,000 Series B Financing Round”

AudioMicro.com Inc Obtains Series A Funding

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=94be2d2f-7c27-4014-a644-be856781b7a7&Preview=1 Date 10/22/2008 Company Name AudioMicro.com Inc Mailing Address 4550 Fulton Ave Sherman Oaks, CA 91423 Company Description AudioMicro is a revolutionary collection of user-generated micro stock music, sound effects, production music, production elements and music cues. Finally, high quality audio content is available at unbelievable prices with no hidden costs or … Continue reading “AudioMicro.com Inc Obtains Series A Funding”

Amylin Gets $125M from Eli Lilly To Make Once-Weekly Diabetes Drug

Amylin Pharmaceuticals said today it has scored a $125 million cash payment from Eli Lilly to manufacture a once-weekly injectable version of exenatide for diabetes. The San Diego-based biotech company will also get a $165 million line of credit from Lilly, which it can draw upon starting in the fourth quarter of 2009 through the … Continue reading “Amylin Gets $125M from Eli Lilly To Make Once-Weekly Diabetes Drug”

Tech Coast Angels Funds Startup Developing Ultra-Low Power Wireless Video

San Diego-based MicroPower Appliance has received an undisclosed amount of Series A funding from Tech Coast Angels to help support its development of a battery-powered, Wi-Fi video camera. According to Mike Elconin, the San Diego network president of Tech Coast Angels, ultra-low powered, wireless video cameras have a number of potential applications, with Internet-based video … Continue reading “Tech Coast Angels Funds Startup Developing Ultra-Low Power Wireless Video”

Sofinnova Ventures’ David Kabakoff, Hybritech Veteran, Sees Promise in San Diego Biotech

One thing I learned on my recent trip to San Diego, is that the local biotech companies usually can’t just drive a couple miles down the road to meet a venture capitalist because they’re clustered to the north in Silicon Valley. So I tracked down Sofinnova Ventures’ David Kabakoff, a prominent VC who actually does … Continue reading “Sofinnova Ventures’ David Kabakoff, Hybritech Veteran, Sees Promise in San Diego Biotech”

Adventrx Cuts One-Fourth of Staff, CEO Resigns

San Diego-based Adventrx Pharmaceuticals (AMEX: [[ticker:ANX]]) announced today that it had cut its workforce by nine people, and that its CEO and President, Evan Levine, had resigned effective October 17. The cuts represent 27 percent of Adventrx’s staff, and the company says that it is restructuring so as to direct all resources toward its two … Continue reading “Adventrx Cuts One-Fourth of Staff, CEO Resigns”

Cypress Fibromyalgia Drug Stalled by FDA

Cypress Bioscience will have to wait a while longer before it can start marketing its first drug. The San Diego company (NASDAQ: [[ticker:CYPB]]) and its partner, New York-based Forest Laboratories, said today the FDA wasn’t able to make a final decision by its Oct. 18 deadline on whether to clear milnacipran—already approved outside of the … Continue reading “Cypress Fibromyalgia Drug Stalled by FDA”

San Diego’s Top 10 Third-Quarter Venture Deals

In case the word hasn’t quite gotten around, things are not pretty on the San Diego investment scene. As Greg wrote on Saturday, venture capital outlays in the third quarter fell to just $178.4 million, a 52 percent nosedive from the previous quarter and the most dismal quarterly showing for the region since Q1 of … Continue reading “San Diego’s Top 10 Third-Quarter Venture Deals”

Vertex Cystic Fibrosis Drug Improves Breathing for 28 Days

Vertex Pharmaceuticals has some good news this morning on its experimental drug for cystic fibrosis. The treatment, taken an oral pill, helped patients breathe better for 28 days, at both a high and low dose, than did a placebo. The drug didn’t appear to cause any serious side effects. The findings for VX-770 were from … Continue reading “Vertex Cystic Fibrosis Drug Improves Breathing for 28 Days”

Trius Therapeutics, Developer of Antibiotic Against MRSA, Taking On Pfizer’s Zyvox

Whenever headline writers get whipped up about another wave of MRSA or other drug-resistant bacteria sweeping the land, a venture capitalist somewhere starts thinking about creating new antibiotics to stop it. Jeff Stein was in that position a couple years ago at Sofinnova Ventures, and he found an experimental drug he liked so much that … Continue reading “Trius Therapeutics, Developer of Antibiotic Against MRSA, Taking On Pfizer’s Zyvox”

SkinMedica, Inc. Obtains $27,500,000 New Financing Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=f389a131-3669-496f-b932-c10a1556875e&Preview=1 Date 10/20/2008 Company Name SkinMedica, Inc. Mailing Address 5909 Sea Lion Place Carlsbad, CA 92010 Company Description SkinMedica is a privately held specialty pharmaceutical company marketing both prescription and cosmeceutical dermatology products. Website http://www.skinmedica.com Transaction Type Debt Transaction Amount $27,500,000 Transaction Round Undisclosed Proceeds Purposes SkinMedica will use the financing for … Continue reading “SkinMedica, Inc. Obtains $27,500,000 New Financing Round”

The Lights Are Still On (Think Energy and Biotech Investments), but the Party’s Over for Many U.S. Venture Deals

The venture-capital numbers for the U.S. are out for the third quarter of 2008, and they don’t quite reflect the turmoil in the broader financial markets—at least not yet. Total venture investment in U.S. companies in Q3 amounted to $7.1 billion in 907 deals, which is down 7 percent from the second quarter of this … Continue reading “The Lights Are Still On (Think Energy and Biotech Investments), but the Party’s Over for Many U.S. Venture Deals”

Nokia to Pay Qualcomm $2.8B

Finish communications giant Nokia will pay San Diego-based Qualcomm about $2.3 billion under the just-released terms of a previously signed patent licensing deal, socalTECH reports, citing Nokia’s third quarter results announced earlier this week. The companies announced an agreement this summer to settle Qualcomm’s patent infringement claims against Nokia, but the terms had not been … Continue reading “Nokia to Pay Qualcomm $2.8B”

San Diego Biotechnology Network Inaugural Event, Featuring Sapphire Energy

This is the inaugural event for the newly formed San Diego Biotech Network. This new networking group was formed to  meet the need for more face-to-face networking among biotechnology professionals in the San Diego area, via casual, bi-monthly after-work events. The first featured company, Saphire Energy, has built a platform using sunlight, CO2 and microorganisms … Continue reading “San Diego Biotechnology Network Inaugural Event, Featuring Sapphire Energy”

Drew Senyei, the VC behind the Movie on Hungary’s Class of ’56

The long journey that Drew Senyei began in 1956 presently ends in San Diego, where he is well-known as the managing director of Enterprise Partners Venture Capital. As a physician and erstwhile biomedical researcher, Senyei holds more than 20 patents and specializes as a venture investor in emerging life sciences companies. (He also is an Xconomist.) … Continue reading “Drew Senyei, the VC behind the Movie on Hungary’s Class of ’56”

Santarus Takes on Marketing Goliaths With Faster-Acting Heartburn Drug

If you own a television, you’ve probably heard of the purple pill. It’s a marketing hit for chronic heartburn, sold under the name Nexium, brought to you by pharmaceutical giant AstraZeneca. Calling this a tough market to crack would be an understatement, but the folks at San Diego-based Santarus are willing to play the role … Continue reading “Santarus Takes on Marketing Goliaths With Faster-Acting Heartburn Drug”

Is Brown the New Green? Why Boston’s Ugly, Expensive Macallen Condos Shouldn’t Be a Model For Green Buildings

Along West 4th Street in Boston, just past I-93 and the MBTA train yard, there’s a big brown apartment building with an odd sloping roof. I live about a mile away, and I’ve gone past this building several times on walks and bike rides without thinking much about it, except that it’s unattractive in an … Continue reading “Is Brown the New Green? Why Boston’s Ugly, Expensive Macallen Condos Shouldn’t Be a Model For Green Buildings”

Huntington Capital and Other Venture Lenders Thriving, Despite Credit Crunch

Unlike a lot of bankers these days, Tim Bubnack of San Diego’s Huntington Capital is pretty upbeat about his business. “It’s an exciting time for us,” Bubnack said between meetings yesterday. “While the credit markets are seizing up, we’re providing growth capital that allows companies to continue to expand, grow their businesses, and in some … Continue reading “Huntington Capital and Other Venture Lenders Thriving, Despite Credit Crunch”

Predictive Biosciences Closes $21.75 Million Round to Help Detect Cancer From Urine

No sooner did Rebecca note the recent dearth of life sciences venture financings than we got word of a sizable one: Lexington, MA-based Predictive Biosciences, which has a small office in San Diego and is out to help build a new era of personalized medicine, announced today that is has secured $21.75 million in Series … Continue reading “Predictive Biosciences Closes $21.75 Million Round to Help Detect Cancer From Urine”

Isis Pharmaceuticals’ Second Drug Aims to Block Marker of Heart Disease, Inflammation

Isis Pharmaceuticals CEO Stanley Crooke gets asked a lot about mipomersen, a drug his company is developing to treat dangerously high cholesterol in the blood. It is Isis’s (NASDAQ: [[ticker:ISIS]]) lead drug candidate and generated a huge partnership with Genzyme worth $325 million in cash upfront, with a lot more to come if this drug … Continue reading “Isis Pharmaceuticals’ Second Drug Aims to Block Marker of Heart Disease, Inflammation”

Ray Flame Entertainment Inc. Receives $800,000 Series A Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=1f8064ff-6c96-4a51-9c61-2f143e398499&Preview=1 Date 10/16/2008 Company Name Ray Flame Entertainment Inc. Mailing Address 9481 Cherwell Court Cypress, CA 90630 Company Description Founded in Nov 2007, Ray Flame Entertainment Inc. is striving to redefine and expand the American and European online gaming market by bringing free to play and yet most intriguing browser based and … Continue reading “Ray Flame Entertainment Inc. Receives $800,000 Series A Round”

Appeals Court Gives Qualcomm a Repreive

Qualcomm says the U.S. Court of Appeals in Washington D.C. has vacated a finding by the International Trade Commission that the San Diego wireless company induced other companies to infringe a Broadcom patent that helps reduce power consumption. The case is among several patent disputes between the two companies. A San Diego Union-Tribune report on … Continue reading “Appeals Court Gives Qualcomm a Repreive”

Eventful Celebrates $10M Financing Event; Aims to “Cement” Lead in Online Events Services

Eventful is celebrating its own financing event as it closes a $10 million Series C round, the company announced today. San Diego-based Eventful, a four-year-old firm that enables users to promote and track local events online, says the capital infusion came from new investor and Spanish telecommunications giant Telefónica (NYSE:[[ticker:TEF]]) and previous venture backers Draper … Continue reading “Eventful Celebrates $10M Financing Event; Aims to “Cement” Lead in Online Events Services”

San Diego’s Startup Pace Strong Despite Economic Chills

A survey of technology startups in San Diego County shows 76 new companies were launched here during the second quarter of 2008, suggesting entrepreneurs kept busy despite broader economic declines locally and nationwide. The study released by Connect, a local non-profit that supports innovative technology and life science businesses, found that San Diego County ranked … Continue reading “San Diego’s Startup Pace Strong Despite Economic Chills”

UCSD Supercomputing Center Looks to Create More Business Partnerships

The new five-story building that doubles the size of the San Diego Supercomputer Center is more than just concrete, steel, and glass. As Fran Berman, SDSC director (and an Xconomist) said yesterday, the new building also represents the next generation in supercomputing—and she wants to ensure that San Diego’s emerging companies feel like they’re part … Continue reading “UCSD Supercomputing Center Looks to Create More Business Partnerships”

Scenes from the Solar Power International Conference

One measure of the burgeoning interest in solar energy and the cleantech industry is the record turnout this week for Solar Power International 2008, which is being held at the San Diego Convention Center. Organizers say more than 20,000 people are expected to register for what’s billed as “the largest solar energy industry event in the … Continue reading “Scenes from the Solar Power International Conference”

Soliant Energy, Inc. Obtains $21,000,000 New Funding

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=9da44aef-c479-4836-b262-6d72e8b38ecb&Preview=1 Date 10/15/2008 Company Name Soliant Energy, Inc. Mailing Address 133 N. San Gabriel Blvd. Pasadena, CA 91107 Company Description Soliant Energy, Inc. designs and manufactures concentrating photovoltaic modules for commercial applications. Our goal is to dramatically reduce the price of solar electricity for consumers and enhance the performance of photovoltaic systems. … Continue reading “Soliant Energy, Inc. Obtains $21,000,000 New Funding”

Eventful, Inc. Lands $10,000,000 Series C Funding Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=e90856c3-17a5-4576-a028-c22335793b04&Preview=1 Date 10/15/2008 Company Name Eventful, Inc. Mailing Address 9171 Towne Centre Drive San Diego, CA 92122 Company Description Eventful’s underlying technology: a software and data platform for exchanging, searching, indexing, and publishing millions of events, venues, calendars, and related information worldwide. Website http://www.eventful.com Transaction Type Venture Equity Transaction Amount $10,000,000 Transaction … Continue reading “Eventful, Inc. Lands $10,000,000 Series C Funding Round”

Cytori Therapeutics Garners $15,000,000 New Funding

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=630ed075-4f50-4800-88c6-fae07fac0190&Preview=1 Date 10/15/2008 Company Name Cytori Therapeutics Mailing Address 3020 Callan Road San Diego, CA 92121 Company Description Cytori Therapeutics’ (Nasdaq: CYTX) goal is to be the global leader in regenerative medicine. Cytori is dedicated to providing patients with new options for reconstructive and aesthetic surgery, developing treatments for cardiovascular disease, and … Continue reading “Cytori Therapeutics Garners $15,000,000 New Funding”

Sequoia Raises $10M in Sixth VC Round

Sequoia Communications, a San Diego-based maker of fabless RF transceivers, has reeled in $10.1 million in a sixth round of venture capital financing, PE Hub reports. Citing regulatory filings, PE Hub says the semiconductor company’s only listed shareholders were previous investors BlueRun Ventures and Tallwood Venture Capital. Since 2000, PE Hub reports, Sequoia had previously … Continue reading “Sequoia Raises $10M in Sixth VC Round”

New Pfizer Incubator Chief Looks Far and Wide for New Science, But Backs Off Plans for Boston Site

Mark Benedyk follows a broad charter for The Pfizer Incubator (TPI): to find and nurture the best science in the world to feed the R&D machine for its parent company, global drug giant Pfizer (NYSE:[[ticker:PFE]]). Benedyk, a biotech industry veteran, took the reins of TPI in January, and he has plans to expand the reach … Continue reading “New Pfizer Incubator Chief Looks Far and Wide for New Science, But Backs Off Plans for Boston Site”

Johns Hopkins’ President Moving to Salk Institute

The Salk Institute yesterday named Dr. William R. Brody, outgoing president of Johns Hopkins University, as its new president. Brody, 64, is retiring from Johns Hopkins in December and will assume his new job in La Jolla on March 1. As a successful entrepreneur who co-founded three biotechnology companies, Brody is expected to provide his business … Continue reading “Johns Hopkins’ President Moving to Salk Institute”

Fallbrook Follows Qualcomm’s Patent Strategy With Innovative Transmission For Vehicles

Bill Klehm may not be aware of his wordplay when he says, “We’re seeing significant traction in the European bicycle market and in light electric vehicles.” Klehm, 45, is the chief executive of San Diego’s Fallbrook Technologies, a startup that has been developing an innovative transmission without gears. The company says its “NuVinci” technology is … Continue reading “Fallbrook Follows Qualcomm’s Patent Strategy With Innovative Transmission For Vehicles”

How to Build a Successful Innovation Ecosystem: Educate, Network, and Celebrate

Last week, I was honored to give a keynote speech in Dublin, Ireland, at an international symposium marking the launch of the nation’s ambitious new R&D program in energy by its NSF equivalent, the Science Foundation of Ireland (SFI). The Symposium on Science and Engineering Underpinning Sustainable Energies and Energy-Efficiency was an excellent opportunity to … Continue reading “How to Build a Successful Innovation Ecosystem: Educate, Network, and Celebrate”

SpaceDev Founder Jim Benson Dies

Jim Benson, an impatient visionary and aerospace entrepreneur, died today of a brain tumor, according to a statement issued by SpaceDev, the San Diego-based company he founded. SpaceDev developed the hybrid rocket engine used to power SpaceShipOne, the Burt Rutan-designed spacecraft, in its historic 2004 suborbital flight, which won the $10 million Ansari X-Prize. Benson, who was 63, … Continue reading “SpaceDev Founder Jim Benson Dies”

Nventa Pharmaceuticals Cuts Deep, Looks For Lifeline

San Diego-based Nventa Pharmaceuticals Corp., a public biotech that trades on the Toronto Stock Exchange, says it is cutting costs to conserve cash, refocusing on its best drug candidates and searching for “synergistic merger and acquisition opportunities.” The startup has been developing new drugs to treat viral infections and cancer. Nvena said it is laying … Continue reading “Nventa Pharmaceuticals Cuts Deep, Looks For Lifeline”

Scripps Health Teams Up With Microsoft and Others for Genetic Testing Study

It was almost exactly a year ago that Microsoft launched its HealthVault service, a secure online database for users to store and manage their medical records. And in recent months, we’ve reported on the software giant’s increasing efforts in health care, including its new partnerships with prescription drug provider CVS Caremark and Boston, MA-based health … Continue reading “Scripps Health Teams Up With Microsoft and Others for Genetic Testing Study”

Playful vs. Preachy: Sizing Up TV’s New Science Dramas

Crime shows generally turn me off, but for years I’ve enjoyed CSI: Crime Scene Investigation, because (as I’ve written before) the heroes are scientists. They catch crooks not by outgunning them, but by observing, hypothesizing, and testing. Of course, the dramatic license that CSI and other series sometimes take with real-world science can be disturbing: … Continue reading “Playful vs. Preachy: Sizing Up TV’s New Science Dramas”

Invitrogen Sees Improved Synergies in Acquisition

Carlsbad-based Invitrogen Corp. says it expects to save $20 million more than originally thought when it acquires Applied Biosystems Inc., according to San Diego’s North County Times. In a filing with government regulators, Invitrogen says a more detailed integration plan shows the combined companies will save $80 million and drive higher-than-expected growth in earnings per share. … Continue reading “Invitrogen Sees Improved Synergies in Acquisition”

Cypress Bioscience, Developer of Fibromyalgia Drug, Eagerly Awaits FDA Deadline

Cypress Bioscience is one of those biotech companies that has limped along for more than 20 years, losing loads of money. In the lovely language of chief operating officer Sabrina Johnson, it has gone through “several reincarnations.” The company now expects to find out by the end of this month whether its latest incarnation will … Continue reading “Cypress Bioscience, Developer of Fibromyalgia Drug, Eagerly Awaits FDA Deadline”

OnMeta, Inc. Lands $2,000,000 Series A Funding

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=fb93ea69-dcb6-496d-ae5f-53d28175a8df&Preview=1 Date 10/10/2008 Company Name OnMeta, Inc. Mailing Address 1223 Wilshire Blvd Santa Monica, CA 90403 Company Description The company operates a search engine focused on entertainment. Website http://www.onmeta.com Transaction Type Venture Equity Transaction Amount $2,000,000 Transaction Round Series A Proceeds Purposes Proceeds purposes were not disclosed. M&A Terms Venture Investor Undisclosed

Sequoia Communications Inc. Garners $10,100,000 Series F Funding Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=8db11b55-c791-49e5-b484-06ee41ecf2ef&Preview=1 Date 10/10/2008 Company Name Sequoia Communications Inc. Mailing Address 15050 Avenue of Science San Diego, CA 92128 Company Description Sequoia Communications is a fabless RF semiconductor company setting new benchmarks in multi-mode design and integration. Website http://www.sequoiacommunications.com/ Transaction Type Venture Equity Transaction Amount $10,100,000 Transaction Round Series F Proceeds Purposes Proceeds … Continue reading “Sequoia Communications Inc. Garners $10,100,000 Series F Funding Round”

Ethanol Entrepreneur Marks His Comeback

After years of disappointment, Mike Lewis is finding encouragement in small signs that business is coming back to life for Pearson Fuels. Lewis opened Pearson Fuels in a blighted San Diego neighborhood in 2003, with financial backing from the owners of a local Ford dealership, where he had worked in finance. It was part of … Continue reading “Ethanol Entrepreneur Marks His Comeback”

Illlumina Sells Four Genome Analyzers to Singapore Research Center

San Diego-based Illumina (NASDAQ: [[ticker:ILMN]]), the maker of instruments for genetic analysis, said today it has sold four new Genome Analyzer machines to the Genome Institute of Singapore. Researchers there, who now have six of the machines, plan to use the tools for research of cancer and stem cells. The Singapore center counts several prominent … Continue reading “Illlumina Sells Four Genome Analyzers to Singapore Research Center”

Silicon Valley Sounds the Alarm—Sequoia Calls Emergency Meeting Warning Entrepreneurs to Brace for Financial Impact

The word spread quickly through the Silicon Valley blogosphere and around the entrepreneurial and venture worlds last night: legendary California venture capitalist Mike Moritz and the Sequoia Capital folks had called an emergency meeting of the firm’s portfolio-company leaders and told them to brace for what might well be the worst economic times they had … Continue reading “Silicon Valley Sounds the Alarm—Sequoia Calls Emergency Meeting Warning Entrepreneurs to Brace for Financial Impact”

Garamendi Takes Soft Energy Path in San Diego

California Lt. Gov. John Garamendi, who announced an early start to his 2010 gubernatorial bid in July, signaled his support yesterday for a new technology cluster emerging in San Diego. The new cluster is focused on cleantech and renewable energy in the cross-border region of San Diego and Imperial Counties and Baja California, which Garamendi … Continue reading “Garamendi Takes Soft Energy Path in San Diego”

Open Energy Corporation Lands $4,700,000 New Financing Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=1b8e7824-25b8-463b-8617-a50f932c7ae4&Preview=1 Date 10/9/2008 Company Name Open Energy Corporation Mailing Address 514 Via de la Valle Solana Beach, CA 92075 Company Description Open Energy Corporation is a renewable energy (RE) company focused on the development and commercialization of a portfolio of technologies capable of delivering low-risk, cost-competitive electricity, fresh water, and related commodities … Continue reading “Open Energy Corporation Lands $4,700,000 New Financing Round”

Broadcom Fires Another Round Against Qualcomm

San Diego’s Qualcomm and Irvine’s Broadcom continue to exchange legal blows like a pair of prize fighters in a slugfest. In the latest round, Broadcom asked a federal judge in San Diego yesterday to declare that Qualcomm’s patents and patent licenses are unenforceable. Broadcom argues that Qualcomm’s sales and marketing practices constitute “patent misuse.” As … Continue reading “Broadcom Fires Another Round Against Qualcomm”