Agradis Takes Root, Illumina Cuts Back, Verenium Arranges Financing, & More San Diego Life Sciences News

10/27/11Follow @bvbigelow

(Page 2 of 2)

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.

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

Single Page Currently on Page: 1 2 previous page

By posting a comment, you agree to our terms and conditions.