SD Biotech Roundup: Life Technologies, KFx Medical, Shire, & More
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Shire’s regenerative medicine business be generating $1 billion in annual sales in five to seven years. Rakin says the goal is to make Shire a leading player in regenerative medicine, and the partner of choice for regenerative medicine startups.
—Carlsbad, CA-based KFx Medical, founded in 2003 to develop ways to fix tissues in a variety of orthopedic surgical procedures, said it got FDA clearance to market its medical device, a 5-millimeter anchor. The company says it will be able to expand into the rapidly growing market for foot & ankle repair. The venture-backed company’s investors include Alloy Ventures, Charter Life Sciences, Arboretum Ventures, Montreux Equity Partners, and MB Venture Partners.
—San Diego’s Sorrento Therapeutics, which is developing biotherapeutics for inflammation, cancer, and other conditions, said it landed a $300,000 Phase I Small Business Technology Transfer grant to advance its antibody treatment for Staph infections. The company says its approach disrupts “quorum sensing,” a bacterial communication process and a key factor in infectious virulence. Staphylococcus aureus infections include potentially the deadly methicillin-resistant S. aureus (MRSA) bacteria.
—Independa, an emerging wireless health company in San Diego, said it will use the 2net Platform developed by Qualcomm’s (NASDAQ: QCOM) new Qualcomm Life subsidiary it its Artemis suite of monitoring technologies. The 2net technology is intended to help resolve interoperability issues by providing a cloud-based service that enables different wireless devices using different technology standards to share data from medical monitoring devices.
—The UC San Diego Entrepreneur Challenge awarded its top prize, which includes $57,000 in cash and professional services, to Nasseo, a San Diego medical device startup developing new technology for dental and orthopedic implants. Two startups developing anti-cancer treatments, Sonrgy and Uroboros Technologies, took second and third place, respectively.