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West Coast Biotech Roundup: Tandem, Pathway Genomics, Denali & More

Xconomy San Diego — 

Now that Labor Day is over, the innovation-driven life sciences editors at Xconomy can pass along the really important news—Billboard magazine’s final Songs of the Summer chart. As you may know, Billboard tracks the most popular ear candy from Memorial Day through Labor Day—and the official 2015 “Song of Summer” is…Jamaican singer OMI’s version of “Cheerleader.”

Parental warning: It’s got a trumpet, a conga beat, a piano—and it is really, really (gack!) sweet.

If it’s too sweet, we’ve got your antidote below: A piquant selection of Xconomy-curated new product introductions, financing deals, regulatory advances, and executive hires. There’s even an item about Otonomy, a biopharmaceutical advancing new therapies for the inner ear.

—San Diego’s Tandem Diabetes Care (NASDAQ: TNDM) shares leaped Wednesday by almost 10 percent, or $1.15 a share, in heavy trading volume after the company said the FDA has approved its t:slim G4 insulin pump. Tandem says its new insulin pump is the first to feature a smartphone-like touch screen that displays continuous glucose monitoring and insulin delivery activity so users can make better-informed decisions about managing their diabetes.

—San Diego’s AnaptysBio plans to raise as much as $86 million through an initial public offering. The company was founded in 2005 to develop antibody-based drugs used to treat severe allergies and other disorders, but has yet to move a program into clinical trials. At a time when the market is volatile, AnaptysBio also is one of dozens of biotechs racing to complete an IPO.

Kona Medical of Bellevue, WA, revealed in a regulatory filing that it has raised $10 million, and intends to raise as much as $22 million through a combination of debt and equity financing. The firm is developing ultrasound-based technology for imaging and treating severe high blood pressure by non-invasive kidney nerve ablation.

—San Diego-based Pathway Genomics, which ran afoul of federal regulators when it tried to sell personal genetic tests in 2010, is today launching a pair of DNA screening tests designed for early cancer detection and monitoring. The diagnostics company says its tests can detect DNA mutations in a blood sample that are associated with certain cancer types. Pathway says one screening test is intended for … Next Page »

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