San Diego Business Journal

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Lumena Pharmaceuticals Closes $45M Funding Round

Lumena Pharmaceuticals Inc. has closed a $45 million Series B round, and will use the funding to develop drugs for two diseases of the liver.

Sharp HealthCare Names New Chief Information Officer

Sharp HealthCare has named Ken Lawonn as its new chief information officer. He is replacing Bill Spooner, who retired March 3 after working 35 years for Sharp.

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Illumina Sells Another $10M Gene Sequencer

San Diego-based Illumina Inc. has another buyer for its $10 million gene sequencing platform.

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DJO Global Taps Former IMDS CEO to Head DJO Surgical Brand

DJO Global Inc. has appointed Brady Shirley, an executive in the orthopedics industry, as president of its DJO Surgical brand.

Valor Fined $250,000 for Withholding Test Results from FDA

Medical: Founder and Employees Also Admit Responsibility for Omissions

Valor Medical Inc. has been fined $250,000 for intentionally withholding from the Food and Drug Administration unfavorable test results indicating the toxicity of its brain aneurism treatment — an offense that Assistant U.S. Attorney Melanie Pierson said was “perpetrated for the purpose of commercial profit.”

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DJO Global Taps Former IMDS CEO to Head DJO Surgical Brand

DJO Global Inc. has appointed Brady Shirley, an executive in the orthopedics industry, as president of its DJO Surgical brand.

New Co. Looks to Extend Our Expiration Dates

BIOTECH: Venter Envisions Shift to Preventive Medicine Through Genomics Research

San Diego super scientist J. Craig Venter has launched a new company, Human Longevity Inc., with an ambitious — albeit ambiguous — pursuit: make people live longer.

Celgene Support Gives Abide Therapeutics $50M

BIOTECH: Enzymes Are Targeted to Treat A Variety of Conditions

San Diego-based Abide Therapeutics Inc. has partnered with biotech titan Celgene Corp. to develop new drugs in inflammation and immunology, receiving $50 million upfront in the deal.

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The Good, The Bad: The Generics

PHARMA: Patient Benefits, Patent Lawsuits Are All Part of the Mix

Adamis Pharmaceuticals Corp. stands unique among San Diego’s many drugmakers: It’s going generic.

Emotient Inc. Closes $6M Funding Round

San Diego-based Emotient Inc., a maker of facial expression recognition software, has closed a $6 million Series B round of funding, led by Silicon Valley venture firm Handbag LLC.

Scripps Health Breaks Ground on $175M Medical Office Building

Scripps Health broke ground on its new, $175 million medical office building at Scripps Memorial Hospital La Jolla – part of a $2 billion renovation plan for the campus.

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Sequenom Announces Leadership Changes, New CEO

Genetic testing company Sequenom Inc. is shaking up its leadership with a number of internal promotions.

Acadia Prices Public Offering of Common Stock

Acadia Pharmaceuticals Inc. announced it plans to raise $182 million in a secondary public offering of its common stock, pricing 6.4 million shares at $28.50 apiece.

J. Craig Venter Part of Team Launching Human Longevity Inc.

San Diego super-scientist J. Craig Venter has launched a new company, Human Longevity Inc. that aims to prolong the human lifespan through genomics and cell therapy-based diagnostics.

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Connect Appoints New CEO

Connect, a San Diego life sciences and technology nonprofit, has appointed veteran health care and investment banking executive Greg McKee as its new CEO.

Acadia Plans $150M Secondary Stock Offering

Acadia Pharmaceuticals Inc. announced it plans to raise $150 million in a secondary public offering of its common stock, though it didn’t indicate how it might use the proceeds.

Abide to Receive $50M Upfront in Collaboration with Celgene Corp.

Privately held Abide Therapeutics Inc. has partnered with biotech titan Celgene Corp. to develop new drugs in inflammation and immunology, receiving $50 million upfront in the deal.

Isis' Stock Drops After Company Reports Q4 Results

Isis Pharmaceuticals Inc.’s stock dropped nearly 10 percent following the announcement of its fourth quarter earnings, despite more than doubling its revenue for the quarter ended Dec. 31, 2013. The company’s net loss increased significantly, however.

Abide Receiving $50M Upfront in Collaboration With Celgene Corp.

Privately held Abide Therapeutics Inc. has partnered with biotech titan Celgene Corp. to develop new drugs in inflammation and immunology, receiving $50 million upfront in the deal.

Isis' Stock Is Down Following Report of Q4 Results

Isis Pharmaceuticals Inc.’s stock dropped 10 percent following the announcement of its fourth quarter earnings, despite more than doubling its revenue for the quarter ended Dec. 31, 2013.

Backers Continue to Bet Big Money on Promising Biotechs

Biotechnology/Health Care Column

I’ll lead this week off with a couple of large financing rounds that have entered the fray in San Diego’s biotech sphere:

Sequenom Inc. Increases Revenue 81% in 2013

Genetic testing company Sequenom Inc. grew its revenue 81 percent in 2013, and posted lower cash burn for the year than in 2012.

Halozyme Reports Q4, 2013 Results

Halozyme Therapeutics Inc. posted significantly greater losses in fourth quarter of 2013 than analysts projected.

Accelrys Reports Q4, 2013 Revenue

Accelrys Inc. reported incremental fourth quarter increases, growing Non-GAAP revenue from $47.5 million in the quarter ended Dec. 31, 2012 to $47.6 million in the like quarter of 2013.

Thesan Pharmaceuticals Closes $49 Million Financing Round

Carlsbad-based Thesan Pharmaceuticals Inc. closed a $49 million Series B financing round.

Neurocrine Biosciences Proposes Common Stock Offering of 7 Million Shares

Neurocrine Biosciences Inc. has proposed an offering of 7 million shares of its common stock.

Clinical Trial Process and Human Side of Huntington’s Disease

The man’s voice shook as he described the “degradation” that comes with Huntington’s disease. He talked of the unsteady legs, the decrease in cognition and memory span, and the uncontrollable writhing movements — called chorea — that make simple things like standing up or walking straight a painful challenge. And he asked if I could help.

Cadence to Be Acquired in $1.3B Cash Deal

Pharma: Irish Drug Maker Attracted by Sales Of Pain Relief Medication

San Diego-based Cadence Pharmaceuticals Inc. is being acquired by Irish specialty drug maker Mallinckrodt PLC for $1.3 billion.

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Juvenile Market Opens For DexCom Device

BIOTECH: Company Expects 30% Jump in Revenue in 2014

Regulators have deemed DexCom Inc’s newest blood sugar monitor safe and accurate for children, opening an underserved — and lucrative — juvenile diabetes market for a company whose stock and revenue have already been ablaze this year.

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Cadence Pharmaceuticals Being Sold to Irish Drug Company for $1.3 Billion

San Diego-based Cadence Pharmaceuticals Inc. is being acquired by Irish specialty drugmaker Mallinckrodt PLC for $1.3 billion.

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Mast Therapeutics Agrees to Buy Aires Pharmaceuticals in $5.2M Deal

Mast Therapeutics Inc. has agreed to acquire Aires Pharmaceuticals Inc. at a steep discount, in an all-stock deal worth about $5.2 million.

Sharp Sees Early Success in Individual Market

HEALTH: Covered California’s Big Names Get Most Enrollees

More than 45,000 San Diegans signed up for health insurance via Covered California through the end of December. The vast majority of them qualified for income-based subsidies and chose plans with good brand recognition and a history of providing insurance to individuals.

Tri-City Medical Takes On Image With Action

HEALTH: Interim CEO Talks Candidly of Plans, Challenges

The woman had extreme stomach pains and was on the verge of passing out. Tri-City Medical Center was a stone’s throw away, but she adamantly refused to go there because she’d heard its care was substandard — opting instead for the far-away Scripps Encinitas hospital. When the woman fainted, however, her husband took her to Tri-City, where the physicians there saved her life.

Biotech Billionaire Wields New Weapons for Fighting Cancer

Biotech billionaire Patrick Soon-Shiong has a modest proposal: cure cancer, eradicate influenza and maybe save the world. I’m reminded of Tony Stark, if the Marvel superhero were a 61-year-old, bespectacled man with a graceful South African lilt.

Auspex's Planned IPO Aims for $82.8 Million

La Jolla-based Auspex Pharmaceuticals Inc. announced the pricing of its $82.8 million initial public offering — just a month after it raised $35 million in venture funding.

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CareFusion Q2 Profits Drop 10%; Revenue Beats Forecasts

Second-quarter profit for San Diego medical device maker CareFusion Corp. dropped 10 percent despite higher-than-expected revenue growth, due in part to the company’s heavy expenses in the quarter.

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Leading BioSciences Inc. Appoints New CEO

Leading BioSciences Inc., a San Diego biotech developing treatments for multiple organ failure, has appointed Robin M. Jackman as its new chief executive.

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Thermo Fisher Completes Life Technologies Buy; Establishes Life Sciences Solutions

Thermo Fisher Scientific Inc. has completed the $13.6 billion purchase of Carlsbad-based Life Technologies Corp., creating a new local segment of the Massachusetts biotech giant called Life Sciences Solutions.

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Halozyme Announces $100M Common Stock Offering

San Diego cancer drug company Halozyme Therapeutics Inc. has announced a $100 million public offering of its stock.

Accelrys Acquired by French Co. for $750M

Software: Local Co. Bought 5 Firms in Recent Years

Accelrys Inc., a San Diego life sciences software company that’s built itself on a series of mergers and acquisitions, has itself been acquired by France’s Dassault Systèmes SA for $750 million in an all-cash deal.

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Blood Bank Borrowing Profit Principles

Health care: New CEO Seeking to Diversify Revenue, Create Partnerships

Blood banks are bleeding: Donor rates are dropping, and hospitals don’t use or need as much blood as they once did. But San Diego Blood Bank’s new CEO, David Wellis, is applying his business acumen as a longtime biotech executive to forge partnerships with companies and researchers to find alternate uses — and alternate revenue streams — for donated blood.

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Looking Up

Biotech: Illumina Makes History in Genome Sequencing

What a difference time has made for Illumina Inc. Things seemed dark to some a little more than two years ago when the San Diego-based genome sequencing equipment maker’s stock had fallen from the mid-$70s to the mid-$20s over about four months, and its doorstep was further darkened about three months later by the shadow of a hostile takeover.

After a Rocky Start, La Jolla Pharmaceutical Could Be a Gem

Biotech/Health Care Column

At about 11:30 p.m. last Wednesday night, I was perusing stock market analysis site Seeking Alpha when I came across a rather comprehensive piece on La Jolla Pharmaceutical Co. The small company just uplisted to the Nasdaq following a 1-for-50 reverse stock split and will trade under ticker symbol “LJPC.”

Anonymous Donor Gives $275M to Sanford-Burnham Institute

BIOTECH: Funds Will Be Distributed Over 10 Years To Speed Drug Discovery

The Sanford-Burnham Medical Research Institute received the largest donation in San Diego’s history — a $275 million gift from a donor who wishes to remain anonymous.

Accelrys Acquired By French Company for $750M

Accelrys Inc., a San Diego life sciences software company that’s built itself on a series of mergers and acquisitions, has itself been acquired by France’s Dassault Systèmes SA for $750 million in an all-cash deal.

San Diego Entities to Be Key Players at New Center of Excellence in Stem Cell Genomics

The California Institute for Regenerative Medicine, a state-funded stem cell agency, has granted $40 million to create a new center that bridges the field of genomics with stem cell research.

Donor Gives Sanford-Burnham Medical Research Institute $275 Million

The Sanford-Burnham Medical Research Institute received the largest donation in San Diego’s history — a $275 million gift from a donor who wishes to remain anonymous.

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Illumina’s 2013 Revenue Up 24%

Illumina Inc.’s fiscal 2013 revenue grew 24 percent to $1.42 billion, up from $1.15 billion in fiscal 2012, the San Diego gene sequencing company said in its Jan. 28 fourth quarter report.

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Sharp Rees-Stealy Opening New Medical Center in Del Mar

Sharp Rees-Stealy is opening a new medical center in Del Mar to serve the North Coastal communities.

ResMed Releases Quarterly Results

Despite a drop in sales in the Americas, ResMed Inc.’s growing global presence helped the company post a modest revenue increase in the quarter ended Dec. 31, 2013.