San Diego-based life sciences software company Accelrys Inc. has acquired Ireland-based Qumas for $50 million in cash.
BIOTECH: Strategic Reprioritization Reduces Amount for M&A Activity
Volcano Corp. has authorized a $200 million share repurchase program — an initiative in line with advice from an activist investor who is reportedly grooming the company as an acquisition target.
FINANCE: Local Biotech IPOs Were Market Forces in 2013
This has been a banner year for the life sciences initial public offering. Despite a recent downtick in IPO activity, San Diego has been a national leader in biotechnology and medical device companies going public this year.
MEDICINE: Is First California Organization to Join the System
Palomar Health will be the first in California to join the Mayo Clinic Care Network, a group of about two dozen hospitals that are affiliated with the prestigious Mayo Clinic and can tap its resources.
HEALTH: Scripps, Kaiser, UC San Diego Have Plans For New Facilities
The completion of the $456 million Camp Pendleton Naval Hospital and the $225 million Scripps Proton Therapy Center highlighted a year in which several medical facilities, large and small, made strides toward opening.
Palomar Health will join the Mayo Clinic Care Network, the Escondido-based health system announced Wednesday.
San Diego-based cancer drug developer Ignyta Inc. has raised $54 million in two separate stock offerings, exceeding the company’s original target of $35 million.
Volcano Corp. has authorized a $200 million share repurchase program — which is in line with the advice from an activist investor who is reportedly grooming the company as an acquisition target.
Biotech/Health Care Column
One of the 11 recipients of Bill Gates’ call to build the better condom goes to a Mira Mesa-based company, which posits that a prophylactic crafted from beef tendons could be a market winner.
ENERGY: Program Is First in Nation, May Also Generate Revenue
The city of San Diego has a plan to reduce what it spends for electricity to power its streetlights — and maybe generate revenue in the process.
PHARMA: Dermagraft Sales Decline Big Part of Decision
Irish drugmaker Shire PLC has halted construction of its more than 150,000-square-foot regenerative medicine building in Sorrento Mesa.
PHARMA: GSK and Avalon Creating Climate for Innovation
British pharmaceutical giant GlaxoSmithKline PLC is expanding its West Coast presence with several key moves in San Diego — and its unique partnership with La Jolla-based Avalon Ventures is front and center.
The Obama administration is delaying online enrollment for its small business health exchange by one year.
Biotech/Health Care Column
I’m starting this column with a request: I’m looking to speak with small business owners who have plans to join Covered California’s Small Business Health Options Program, or SHOP, as it’s scheduled to go online Nov. 25.
BIOPHARMA: Latest Deal Gives Company Way to Fight Cancer with Targeted Toxin
San Diego-based Sorrento Therapeutics Inc., with the $12 million acquisition of Concortis Biosystems Inc., is rounding out what has been a pivotal year for the company.
BIOTECH: Growth Plan Calls For In-House Development
San Diego-based CareFusion Corp. will acquire the Vital Signs division of GE Healthcare for $500 million.
Adamis Pharmaceuticals Corp., a San Diego company developing treatments for asthma, has filed for a $25 million secondary public offering.
Biotechnology/Health Care Column
Some happy news for the biotech IPO circuit: On its first day of trading on the Nasdaq, shares for Tandem Diabetes Care Inc. soared 28 percent — or $4.26 — closing day trading at $19.26. It trades on the Nasdaq under ticker symbol TNDM.
PHARMA: Zogenix Raises Funds and Bolsters Sales Force
San Diego-based Zogenix Inc. plans to use most of the proceeds from a recent $60 million public offering to triple its sales force and commercialize its newly approved narcotic painkiller, Zohydro.
North County Health Services will begin a $7.5 million overhaul of its Mission Mesa campus in Oceanside, which it said will more than quadruple the size of the community clinic. It plans to break ground in early December.
Biotech: Researchers, Investors Still Waiting for Effective Therapies
San Diego is a beacon nationally for its advances in regenerative medicine and stem cell research, but the field has faltered in its transition from the bench to the bedside.
HEALTH: Acquisition Would Bring More Services To Rural Area Residents
Scripps Health could acquire El Centro Regional Medical Center, a 161-bed hospital that’s been shopping for a buyer since May.
BIOTECH: Sales Forces Merge; Portfolios Seen as ‘Complementary’
Santarus Inc., a San Diego maker of diabetes and gastrointestinal drugs, has agreed to be acquired for $2.6 billion by Salix Pharmaceuticals Ltd.
RETAIL: Invention Goes From Bathroom To Big-Box Stores
It was Erin Balogh’s frustration with a pedestal sink that led her to create the Hot Iron Holster.
Biotechnology/Health Care Column
The CEO of a local stem cell company who I spoke with recently joked that UCSD — as the University of California, San Diego used to abbreviate its name before it adopted the short form UC San Diego — should be renamed as UCDS. That would stand for the University of California-Denny Sanford.
BIOTECH: Stock Repurchases, Incentives Suggested for Company
Rumblings of change may be in store for Volcano Corp., now that an activist investor has acquired 5.1 percent of the San Diego-based medical device maker’s shares.
MEDICINE: It Will Focus on Improving Stakeholders’ Experiences
Tri-City Medical Center is regrouping after the firing of its chief executive, Larry Anderson, with Chief Operating Officer Casey Fatch filling the position in the interim.
PHARMA: Many at Co. Have A ‘Rich History’
Seragon Pharmaceuticals Inc. — a new San Diego company focused on breast cancer therapies with a management team coming off an extremely lucrative exit — has raised $30 million in Series A financing.
Biotech/Health Care Column
Illumina Inc. has acquired Silicon Valley-based NextBio Inc., which uses big data technology to systematically catalogue and interpret genetic data. This is a notable move for a company like Illumina that has a vested stake in lowering the cost of sequencing the human genome.
HEALTH: DJO Sees Aging Population Needing Its Devices to Stay Mobile
Vista-based DJO Global Inc.’s DonJoy brand has minor celebrity status in the football circuit, with its knee braces making regular cameos on national television.
HEALTH: Study Predicts Region’s Health Care Costs Will Rise 7%
San Diego employees pay a higher share of their health care benefits compared to the national average, according to a new analysis from a global human resources consultancy.
Biotechnoloy/Health Care Column
I recently sat next to a venture capitalist on a flight from the Bay Area. We were discussing San Diego’s penchant for growing these amazingly innovative biotech startups — and how right as they begin to pick up some serious momentum, they get acquired by a big fish.
The profile of a life sciences employee has shifted dramatically, according to a new study published in Nature. Employers at biotech, medical device and pharmaceutical companies are now looking for well-rounded candidates who have some business acumen, as opposed to researchers who have deep — but myopic — knowledge of their niche fields.
PHARMA: Plant Will Soon Be Able to Make 2 Drugs Simultaneously
San Francisco-based Genentech Inc. is investing $132 million in its Oceanside plant, with aims to double its drug manufacturing capacity. It will hire 50 scientists, engineers and technicians to support its expanded operations.
PHARMA: Weight-Loss Pills Have Yet to Bring Big Returns
One would wager that a fat-busting prescription pill would be a shoo-in pharmaceutical blockbuster, with more than a third of the American public struggling with obesity.
BIOTECH: New Tools Allow Real-Time Sharing, Easier Viewing of Samples
Leica Biosystems’ Aperio ePathology division in Vista sees opportunity in ultrahigh definition — whether it is looking at high-resolution images of tissue samples for pathologists that its equipment and software make possible or the images of Albert Einstein’s brain it has cataloged for posterity using its technology.
funding: Vital Therapies, Celladon Each Seeking $86M
With aims to raise $86.3 million apiece in initial public offerings, San Diego-based companies Celladon Corp. and Vital Therapies Inc. have joined the bevy of biotechs that have filed this year to go public.
BIOTECH: Company Has Big Backer, Funding And a Focused Team
San Diego-based PharmAkea Therapeutics Inc., launched last year, recently received $45 million in funding — a large sum for such an early-stage company.
Biotech/Health Care Column
For the better part of a year, my column has basically been a log of how biotech has been booming. With the mergers and acquisitions, the partnerships and payouts, the mind-boggling number of initial public offerings, the industry has been showing a real turnaround — until this past week.
HEALTH: Company to Seek Acquisitions and Technology
San Diego-based Tandem Diabetes Care Inc. has filed for a $100 million initial public offering, making it the eighth area company to join this year’s spate life science IPOs.
HEALTH: Levy on Revenue Affects 250 Local Companies
The medical device excise tax — a levy created with the Affordable Care Act that impacts several San Diego manufacturers — is becoming a linchpin in federal budget negotiations.
BIOTECH: It Seeks $23M to Pursue Its Cancer Diagnostics
San Diego-based Biocept Laboratories Inc. recently filed for a $23 million initial public offering and soon after hired a new CEO.
Tri-City Medical Center has dropped the patient-poaching lawsuit it filed four years ago against Scripps Health. This follows on the heels of a Sept. 4 vote by Tri-City’s board of directors to put CEO Larry Anderson on paid administrative leave.
3D Robotics Inc. is eyeing the agricultural market, which is worth an estimated $37.5 billion in California alone.
BIOTECH: Buy Beefs Up BASF’s Enzyme Expertise
BASF SE’s purchase of San Diego-based Verenium Corp. represents a strategic play in the global race to acquire biotechnology assets in a quickly changing chemical industry.
MEDICINE: Execs Should Improve Company’s Image
Millennium Laboratories Inc. is making inroads, with the appointment of a new trio of C-level executives, toward righting a ship shaken by an ongoing federal grand jury investigation.
TRANSPORT: TNC Category Created for New Ride Services
San Diego-area taxi companies plan to collectively protest new state regulations governing ride-sharing mobile applications.
RETAIL: Plastic Bag Ban Being Considered; Business Input Sought
San Diego is on its way to joining some 80 other California cities in banning the use of plastic bags at grocery stores and retail outlets.
invest: Biotech IPOs Continue Their Impressive Showing
A boom year for initial public offerings by San Diego biotechnology companies is generating momentum that will buoy regional growth in that sector, industry stakeholders said. With four such IPOs executed in 2013 and two more on the way, mirroring a national trend, it’s been a boon that could help reverse a 13-year drought for investing in life sciences.
HEALTH: Initial Trials Indicate Drink Improves Comfort After Surgery
San Diego-based BevMD Inc. has developed a preoperative beverage meant to keep patients comfortable in the hours before they go under the knife.