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target patient populations are often small, which makes it hard for private companies to justify the costs of development. As Snyder puts it, there are reasons why the government needs to be involved with these diseases.
—San Diego-based Astute Medical, a diagnostics company focused on community and hospital-acquired acute infections and conditions, has raised $2 million in a combination of convertible loans, warrants, and securities, according to a recent regulatory filing. Astute Medical raised $39.5 million in a Series B financing that included Domain Associates, Delphi Ventures, De Novo Ventures, and Johnson & Johnson Development, according to VentureBeat.
—Cryoport, with offices in San Diego and Lake Forest, CA, raised more than $5.2 million in a combination of equity, rights to acquire securities, and securities, according to a recent regulatory filing. Cryoport provides a liquid nitrogen shipping container and logistics services that enable biomedical research labs and life sciences startups to manage the entire process of shipping biological samples.
—Polynoma, a San Diego biotech developing new cancer therapies, named former Arana Therapeutics CEO John Chiplin as CEO. Polynoma, which is part of Hong Kong-based CK Life Sciences, recently began a late-stage clinical trial of POL 103A, a new vaccine for treating melanoma.
—San Diego’s West Wireless Health Institute named Rodger Currie as senior vice president of government affairs, a new policy position that’s intended to focus on implementing non-partisan solutions to lower health care costs. Currie was previously a partner in the healthcare and government strategies practice groups of the Foley Hoag law firm. Before that, Currie was a senior vice president for Dean Kamen, the renowned inventor and entrepreneur.
—NanoSort CEO Jose Morachis told me his startup just landed a $1 million small business innovation research (SBIR) grant from the National Institutes of Health to advance development of a new generation of flow cytometers and cell sorters. With the latest funding, NanoSort has raised a total of $2.4 million for technology that uses innovative optics and a closed microfluidic chip to sort cells at high speed.