The Obama Bounce & San Diego’s Cleantech Innovators, Zeebo Steps Onto A Global Stage, Hollis-Eden Axes Its Namesake Founder, & More SD BizTech News
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—San Diego’s Arena Pharmaceuticals (NASDAQ: ARNA) secured a $50 million equity financing commitment. The company did not disclose how it plans to use the proceeds from sales of its shares, which will take place at the company’s discretion over the next 18 months.
—Sofinnova Ventures partner and San Diego-based Trius Therapeutics CEO Jeff Stein told a Biocom audience last week that many venture capital firms are now taking a hard look at creating new companies around a virtual business model.
—The Salk Institute formed a collaborative partnership with global pharmaceutical giant Sanofi-Aventis that will provide additional funding for expanded work on stem cell research.
—Private telecommunications provider Carousel Industries of Exeter, R.I., has acquired San Diego’s Daycom Systems as part of a West Coast expansion. Financial terms were not disclosed.
—Stealthy startup Calixa Therapeutics announced that an early stage trial of its new antibiotic to fight pseudomonal infections appears encouraging enough to move to the next phase of testing.
—Luke reported that Cambridge, MA-based Biogen Idec, which operates a San Diego R&D center, is developing a way to make its best-selling drug for treating multiple sclerosis last longer in the bloodstream—and that could help its drug patent last longer in the market.
—Biogen’s Cambridge-based neighbor, Genzyme (NASDAQ: GENZ), which also has San Diego operations, is expecting results from a clinical trial of patients in an experimental gene therapy for peripheral artery disease. Luke reports the trial could show a single shot can help patients to walk without pain.