Healthcare Venture Investment Deals Climbing Back, Halozyme Sells Its Diagnostics Business, Dry Lab Biotechs Cluster in Carmel Valley, & More San Diego Life Sciences News

10/14/10Follow @bvbigelow

We took a long Columbus Day weekend here at Xconomy, but it didn’t shorten our roundup of life sciences news much. Here’s your latest update.

—Healthcare venture capital deals continue to climb back from their first-quarter plunge during the three months that ended September 30, according to the latest report from CB Insights, a New York firm that tracks investments in private companies. Venture firms invested $1.75 billion in 184 healthcare deals during the quarter, which sounds good, but it’s below the $1.9 billion that went into 192 healthcare companies during the same quarter of 2009.

—San Diego-based Synthetic Genomics and the nonprofit J. Craig Venter Institute are forming a new company called Synthetic Genomics Vaccines that will use the latest advances in synthetic biology and genomic sequencing to develop next-generation vaccines. The Venter Institute is contributing science and scientists, but no money.

—Albuquerque, NM-based Exagen Diagnostics is buying the San Diego-based diagnostics business of Cypress Bioscience (NASDAQ: CYPB) for as much as $8 million in upfront and milestone payments. Cypress also hopes to get additional future payments in the form of royalties on product sales.

—San Diego’s VentiRx, which also has operations in Seattle, said its lead drug candidate for nasal allergies helped to relieve common allergy symptoms in a clinical trial of 80 patients who were exposed to allergens in a scientifically controlled environment. The VentiRx drug is intended  to be the first once-weekly nasal spray for allergies.

—Luke found the geography of biotech has … Next Page »

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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