Agradis Takes Root, Illumina Cuts Back, Verenium Arranges Financing, & More San Diego Life Sciences News
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that VCs invested $201.8 million in 21 deals in San Diego. Of that total, though, VCs invested just $26 million in nine local life sciences deals, or 13 percent of the total capital invested. In the preceding quarter, VCs sunk $186 million in San Diego life sciences startups—or 87 percent. The survey is prepared by PricewaterhouseCoopers, National Venture Capital Association, and Thomson Reuters.
—Mountain View, CA-based 23andMe said it had found a gene that appears to help protect against the known mutation of another gene that is associated with Parkinson’s disease. The Michael J. Fox Foundation hailed the findings. The foundation awarded a $500,000 grant to San Diego’s Scripps Research Institute to study the both genes as a potential therapeutic target for Parkinson’s.
—Analytix On Demand, an Irvine, CA-based provider of Web-based business intelligence services for healthcare, said it acquired Carlsbad, CA-based Integrated Revenue Management, a national healthcare consulting and education company. The combined company, called CentraMed, will be based in Irvine. Financial terms were not disclosed.
—Verenium (NASDAQ: VRNM), the San Diego-based industrial biotech, said it has secured credit lines totaling $13M with Comerica Bank and the Export-Import Bank of the United States. The company said it secured an additional $3 million loan to help support the planned build-out of its research and bioprocess development laboratories and corporate headquarters here.
—Conatus Pharmaceuticals, a San Diego biotech focused on fibrotic disease and oncology, said it had terminated a mid-stage clinical trial of its drug candidate for patients with chronic Hepatitis C. The decision was prompted by “laboratory abnormalities and adverse events in a subset of clinical trial participants,” according to the company. Conatus continues to work on its lead drug candidate for fibrotic disease.