San Diego Life Sciences Roundup: Life, BioSurplus, Obalon, & More

7/19/12Follow @bvbigelow

[Updated 7/10/12 9:25 am. See below.] It seemed as if much of San Diego’s life sciences industry took the past week off, and I plan to join them next week. If you can’t hold your breaking news until I return on July 30, send your bulletins to editors at Xconomy.com.

Life Technologies (NASDAQ: LIFE) bought Navigenics, the genetic diagnostics company based in Foster City, CA, giving the Carlsbad, CA-based laboratory instrument manufacturer an entré to the emerging field of clinical genetic testing. Life Technologies did not disclose the value of its Navigenics buyout. The key to the deal is Navigenics’ CLIA-certified lab, which enables Life to offer its lab tests to physicians. (CLIA labs meet standards set by the U.S. Centers for Medicare & Medicaid Services.)

—[Updated to include announcement from Shire] A spokesman for Shire tells me the pharmaceutical giant has changed the name of San Diego’s Advanced BioHealing to Shire Regenerative Medicine. Shire acquired the company last year and has been operating the business as a subsidiary. The name change follows Shire’s plan to build a regenerative medicine campus in San Diego over the next several years.

—San Diego’s BioSurplus closed on $2.4 million in its first round of outside funding, with Durham, NC-based SJF Ventures accounting for much of the oversubscribed round. BioSurplus provides equipment management services and buys and sells pre-owned laboratory instruments. The company said in May that it had raised $1.5 million, mostly from KI Investment Holdings of San Diego, to expand its services in Boston.

—In a statement released yesterday, Carlsbad, CA-based Obalon Therapeutics confirmed that it has raised $16.5 million to advance its new nonsurgical and reversible medical device for treating obesity. I had noted the financing in May, but there wasn’t much information about Obalon or its technology at that time. Obalon now says … 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

Single Page Currently on Page: 1 2

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