Medtronic Acquires Ablation Frontiers, Sequenom and Exact Sciences Go a Second Round, Qualcomm CEO Reflects on Strategy, & More San Diego BizTech News

1/20/09Follow @bvbigelow

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5AM Ventures, Versant Ventures, and Apposite Capital.

—The venture outlook for 2009 was permeated by a kind of irony, as VCs told a gathering of San Diego software entrepreneurs that their odds for getting funding were never very good in the first place.

—San Diego biotech Cypress Bioscience (NASDAQ: CYPB) got a boost after the U.S. Food and Drug Administration approved its drug for treatment of fibromyalgia, a painful condition involving connective tissue.

—With chipmaker Intel reporting a 90 percent decline in fourth-quarter profits, San Diego laser-maker Cymer (NASDAQ: CYMI) says it’s making some cutbacks, including a 10 percent trim in its workforce. Cymer makes specialized lasers used by chipmakers.

—The father of the cell phone, Martin Cooper, says he anticipates the advent of Google’s Android operating system will accelerate a wireless revolution in the development of “open access” wireless networks.

—San Diego’s Burnham Institute of Biomedical Research says it has signed an institution-wide partnership with Johnson & Johnson’s Pharmaceutical Research and Development. Financial terms of the deal were not disclosed.

—Cambridge, MA-based Biogen Idec (NASDAQ: BIIB), with big R&D operations in San Diego, announced some encouraging results from a pair of mid-stage trials of an experimental drug being considered to treat Parkinson’s disease.

Bruce V. Bigelow is the editor of Xconomy San Diego. You can e-mail him at bbigelow@xconomy.com or call (619) 669-8788 Follow @bvbigelow

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