San Diego Business Journal

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.

David Gollaher Leaves Nonprofit for Gilead

MANAGEMENT: CleanTech San Diego President Resigns After 6-Year Term

Two leaders of notable San Diego business groups recently resigned to join the private sector — David Gollaher, president and CEO of the California Health Institute, and Holly Smithson, president and chief operating officer of CleanTech San Diego.

Sanford Gives $1M To National Univ. To Train Teachers

Businessman and philanthropist T. Denny Sanford has donated $1 million to help create the Sanford Education Center at National University in San Diego. The new $10 million center will help train future teachers and nonprofit leaders, National University said. Its mission is to “effect positive change” by offering “inspirational and impactful programs that meet 21st century global needs.”

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Dermagraft Deal Ends Shire’s Big Local Plans

BIOTECH: Co.’s Footprint Cut Down to Unfinished Facility

Irish pharmaceutical giant Shire PLC is shedding the assets of its unprofitable La Jolla-based Dermagraft business, ending an initially promising but ultimately spastic tenure in the San Diego region.

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Fitch Downgrades Outlook for Palomar Bonds; Expects a Turnaround

HEALTH: Rating Agency Cites Location, Strategic Partnerships as Strengths

The ratings outlook for the revenue bonds used to finance Palomar Health’s palatial new medical center has been downgraded to “negative,” according to Fitch Ratings. The change is largely because of the health system’s low liquidity and struggles to reach revenue targets in 2013.

Celladon Revives IPO Plans, Changes Terms

San Diego-based Celladon Corp. has revived the initial public offering it postponed last November.

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Sanford Gives $1M to National University Toward Training Teachers, Nonprofit Leaders

Businessman and philanthropist T. Denny Sanford has donated $1 million to help create the Sanford Education Center at National University in San Diego.

Dermagraft Shed By Shire in No-Upfront-Payment Deal

Irish biopharmaceutical company Shire PLC has sold the assets of its Torrey Pines-based subsidiary Dermagraft to Massachusetts-based Organogenesis Inc. — incurring up to a $650 million loss in the process.

Millennium Sees Complementary, Independent Role for Acquisition

BIOTECH: RxAnte Buy Brings More Tools to Medication Monitoring

Millennium Laboratories Inc. has made an interesting acquisition in its purchase of RxAnte Inc., a McLean, Va.-based company that develops predictive analytics software for medication adherence. Financial terms for the deal were not disclosed.

Isis to Receive $7.5M in Deal With Alnylam

Carlsbad-based Isis Pharmaceuticals Inc. will receive $7.5 million from Alnylam Pharmaceuticals Inc, in connection with a recently announced alliance between Alnylam and Genzyme Corp.

Illumina Claims Victory in Race for $1,000 Genome Sequencing

We’ve entered the era of the $1,000 genome. San Diego’s own Illumina Inc. has cracked the barrier that geneticists and bioengineers have been racing toward for a decade — bringing the cost of sequencing the human genome to a grand. In mind-boggling contrast, in 2003 the Human Genome Project sequenced a single human genome for $3 billion. How times change.

Co.’s Offering Lands A ‘Longer Runway’

BIOTECH: Receptos Has Cash to Carry Out Trials

Receptos Inc. has raked in $117.4 million in a secondary public offering — right on the heels of its initial public offering last May, in which it raised $73 million. The funds will be used to finance clinical trials of its multiple sclerosis and ulcerative colitis drugs, and for general corporate purposes.

Dermagraft Shed By Shire in No-Upfront-Payment Deal

Irish biopharmaceutical company Shire PLC has sold the assets of its Torrey Pines-based subsidiary Dermagraft to Massachusetts-based Organogenesis Inc. — incurring up to a $650 million loss in the process.

Arena Weight-Loss Drug Being Studied for Use in Quitting Smoking

Belviq, the recently approved anti-obesity drug developed by San Diego’s Arena Pharmaceuticals Inc., is now being studied for its use in smoking cessation.

NuVasive Stock Climbs; Company Expects Higher Earnings Than Originally Predicted

Shares for NuVasive Inc. rose 8.5 percent in day trading after the San Diego spinal device maker said its fourth-quarter and 2014 earnings were higher than expected.

Millennium Laboratories Acquires RxAnte

San Diego’s Millennium Laboratories Inc. has acquired RxAnte Inc., a McLean, Va.-based health care predictive analytics company for an undisclosed sum, the companies announced.

Isis to Receive $7.5M From Alnylam

Carlsbad-based Isis Pharmaceuticals Inc. will receive $7.5 million from Alnylam Pharmaceuticals Inc, in connection with a recently announced alliance between Alnylam and Genzyme Corp.

Receptos Seeking $102.1M Through Secondary Stock Offering

San Diego-based Receptos Inc. has filed a $102.1 million secondary public offering – right on the heels of its initial public offering last May, in which it raised $73 million.

Tandem Initiates Voluntary Recall for Specific Lots of Pump Cartridges

Tandem Diabetes Care Inc. has initiated a voluntary recall for specific lots of its insulin pump, the company announced.

Cardium Therapeutics Opts to Trade on OTC

BIOTECH: Company Plans to Restructure and Refocus on Key Product

Cardium Therapeutics Inc. — a small and eclectic San Diego biotech holding company that has been teetering on the edge of getting delisted from the New York Stock Exchange — has voluntarily elected to begin trading on the OTC exchange.

MD Revolution Shifting Focus

San Diego’s MD Revolution Inc. launched its RevUp! application at this year’s International CES in Las Vegas. The company’s software pools health and fitness data from a variety of sources — digital blood pressure monitors, FitBits and others — and enables patients to track their health in real time on a digital dashboard.

The Biotech Sector Gets Back to Finding Funding and Cures

After the blissful humdrum of the holidays, there’s been a spate of activity in the biotech sector, including a few exciting new financing rounds.

Medistem’s Acquisition Hints at Big Potential

BIOTECH: Stem Cell Work Complements Intrexon Efforts

Medistem Inc., a San Diego-based stem cell company that harnesses regenerative cells found in menstrual blood, will be acquired for about $26 million by Intrexon Corp. — a high-profile synthetic biology company based in Germantown, Md.

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CareFusion to Pay $40M to Settle Justice Department Lawsuit

CareFusion Corp. has agreed to pay the government $40.1 million to settle allegations from a whistleblower that it paid kickbacks to increase product sales, as well as marketed the product for uses that aren’t approved by the Food and Drug Administration.

Suneva Medical Raises $35 Million

Suneva Medical Inc., a San Diego cosmetic dermatology company, has raised $35 million in debt and equity capital.

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Avelas Closes $6.85M Series B Financing Round, Names New CEO

Avelas Biosciences Inc. announced it closed on a $6.85 million Series B financing round, and has also promoted chief business officer Carmine Stengone to the role of CEO.

Auspex Raises $35M, Makes New Board Appointment

Auspex Pharmaceuticals Inc. has raised $35 million through separate funding rounds — a $20 million Series E equity round from Deerfield Management Co. and others, and a $15 million, four-year venture loan from Oxford Finance LLC.

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FDA to Rule on Orexigen’s Weight-Loss Drug Application By June 10

The Food and Drug Administration said it will review the new drug application for Orexigen Therapeutics Inc.’s weight-loss drug Contrave by June 10.

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Neurocrine Stock Increases As Drug Shows Promising Results

Stock for San Diego’s Neurocrine Biosciences Inc. nearly doubled its value after it released positive interim clinical data for its drug that treats tardive dyskinesia, a movement disorder that causes facial spasms.

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Thermo Fisher Selling Units to Pave Way for Approval of Life Technologies Acquisition

Thermo Fisher Scientific Inc. is shedding certain assets to hasten approval of its $13.6 billion acquisition of Life Technologies Corp., selling its gene modulation, cell culture and magnetic beads businesses to GE Healthcare for $1.06 billion, Thermo Fisher said.

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Halozyme Secures Additional $20M Term Loan

Halozyme Therapeutics Inc. announced it has received an additional $20 million loan from Oxford Finance LLC and Silicon Valley Bank.

Ajinomoto Althea Appoints New CEO

San Diego contract manufacturing organization Ajinomoto Althea Inc. has appointed J. David Enloe Jr. as its new president and CEO.

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Quidel Corp.’s Strep-Throat Test Gets FDA Approval

Quidel Corp. has received regulatory clearance for its hand-held test that diagnoses strep throat.

For Health Care, 2014 Is a Work in Progress

MEDICINE: Seismic Shift Of Reform Is on Its Way

The Affordable Care Act will bring sweeping change to health care in 2014 in San Diego and across the country, as providers and consumers adjust to the new norm of a wildly changed health economy.

Pharmaceutical Giants Expected to Have a Bigger Local Presence

BIOTECH: Stem Cell Work, Digital Medicine Advancing in the Region

The San Diego biotech sector is beginning to see a lot of activity among big pharma that has previously sidestepped the region — a trend that will continue to grow in 2014, said Joe Panetta, CEO of San Diego life sciences industry trade group Biocom.

San Diego Leading Change to Energy Smart City Heading into 2014

CLEAN TECH: Finding Ways to Store Renewable Energy Among Challenges

The biggest economic trend in clean technology in San Diego is its impending metamorphosis into a “smart city,” said Holly Smithson, president of clean energy trade group CleanTech San Diego.

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Cardium Therapeutics Voluntarily Delists From NYSE, Will Rejoin OTC Market

Cardium Therapeutics Inc. announced that it elected to delist from the New York Stock Exchange and voluntarily begin trading on the OTC exchange.

CareFusion Completes Vital Signs Acquisition in U.S. and China

San Diego medical device maker CareFusion Corp. has completed its $500 million acquisition of the Vital Signs division of GE Healthcare in the U.S., China and other countries.

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Fabrus Planning to Merge With New Jersey Biotech Company

Fabrus Inc. will merge with Senesco Technologies Inc., the companies announced.

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NuVasive to Increase Workforce at Newly Acquired Plant

NuVasive Inc. will expand the workforce at its Dayton, Ohio, manufacturing plant in 2014 by more than 25 percent, the company announced in a press release.

Rempex Bought by Public Company in Deal Worth Up To $474M

PHARMA: Local Ops Will Continue; 2 Drugs in Trials

San Diego-based Rempex Pharmaceuticals Inc. has been acquired for up to $474 million — including $140 million upfront — by The Medicines Co., a publicly traded pharmaceutical company based in Parsippany, N.J.

Menon Biosensors Perfects DNA Analysis to Detect Pathogens

Biotechnology/Health Care

Before delving into all things biotechnical, I’d like to wish you the happiest of holidays. I hope 2013 was a good one — and I’ll see you in the New Year!

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Taking Coverage

Health Care: Small Businesses Face Challenges, Surprises Preparing for ACA

Lynette Lampton expected health insurance premiums to rise in 2014. She didn’t think they’d go up 57 percent.

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Emotient Putting Its Efforts Into Understanding Your Feelings

TECH: Company’s Software Deciphers Emotions for a Variety of Marketing Uses

Be it a grimace, a furrowed brow or the flicker of a smile, San Diego-based Emotient Inc. is building software to map it.

Rempex Pharmaceuticals Sold in Deal Potentially Worth $474M

Rempex Pharmaceuticals Inc. has been acquired for up to $474 million — including $140 million upfront — by The Medicines Co.

Naviscan Corp.'s Assets Bought By Mexican Company

A Mexican medical diagnostics company has acquired the assets of Carlsbad-based Naviscan Corp., but said it plans to continue to develop and manufacture Naviscan’s molecular imaging products locally.

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Adamis Pharmaceuticals Begins Trading on NASDAQ

Adamis Pharmaceuticals Corp. began trading on the Nasdaq on Dec. 13, pricing its $22 million secondary public offering at $5.95 per share.

Technology Prescribed To Cut Costs of Care

MEDICINE: Region a Leader In Mobile Health Solutions

Advances in medical information technology will help ease mounting health care costs in 2014 – and much of the groundwork is being laid in San Diego.

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Senhwa Biosciences Raises $17M in Financing Round

Senhwa Biosciences Inc., a cancer drug company based in Taiwan and San Diego, has raised $17 million in a Series B financing round.

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Orexigen Resubmits Weight-Loss Drug Contrave for FDA Review

La Jolla-based Orexigen Therapeutics Inc. has resubmitted an application with the Food and Drug Administration for its anti-obesity drug, Contrave.