Wednesday, July 15, 2009
InnerCool Therapies Acquired By Philips
San Diego-based InnerCool, a wholly owned subsidiary of Cardium Therapeutics, has been acquired by Royal Philips, Philips said Wednesday. According to Philips, it will pay $11.25M in an asset purchase transaction, plus the transfer of approximately $1.5M in trade payables. InnerCool Therapies will become part of Philips' Clinical Care Systems. InnerCool was acquired by Cardium Therapeutics in March of 2006 for around $6M, and develops and manufactures disposable catheter systems.

posted on Wednesday, July 15, 2009(Full story)

Intuit Layoffs To Hit Southern California
Layoffs at personal finance software maker Intuit are set to hit a number of the firm's Southern California locations. Mountain View-based Intuit, which said in June that it would be laying off about 4 percent of its staff, disclosed through California WARN notices recently that it is laying off employees in Calabasas, Woodland Hills, San Diego, and Westlake Village as part of an overall, company-wide reduction. According to the notices, 29 of the employees are in San Diego, 14 in Woodland Hills (More info...)

posted on Wednesday, July 15, 2009(Full story)

YouMail Gets $1.5M In Debt Funding
Aliso Viejo-based YouMail, which develops personalized voice mail and messaging services, has raised $1.5M in a debt financing round, according to a regulatory filing from the firm this morning. No details on the source or terms of the funding were disclosed. YouMail is venture backed by VantagePoint Venture Partners and the Tech Coast Angels.

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SpaceX Racks Up Second Successful Launch
Hawthorne-based SpaceX, the commercial rocket startup funded and headed by PayPal founder Elon Musk, racked up its first commercial satellite launch late Monday evening, and delivered a Maylasian satellite into orbit. SpaceX launched its Falcom 1 rocket at 8:35 pm from the U.S. Army's Kwajalein Atoll, far out in the Pacific Ocean, and delivered Malaysia's RazakSAT satellite into a near-equatorial low earth orbit. The launch was the second successful launch for the firm, which also saw a successf (More info...)

posted on Wednesday, July 15, 2009(Full story)

TrueCar Links Into Auto Websites
Santa Monica-based TrueCar, the automotive pricing spinout of Zag Automotive, disclosed Wednesday that the firm has inked distribution deals with five automotive websites. According to TrueCar, it will provide its price reports on,,,, and Financial details of the distribution deals were not disclosed. TrueCar is using pricing data, derived from information gained from Zag's auto buying service, to show buyers the p (More info...)

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VMIX Adds Reseller
San Diego-based VMIX, which provides a platform for publishing and managing online video, reports today that it has signed on an ad agency and reseller, which has resulted in more than 30 customers for the firm. The firm said that South Carolina-based Fuel Interactive has been using the firm's video players and widgets, as part of the creation of 30 tourism-related web sites based in that state. Financial impact of the customers were not disclosed. VMIX powers video sites for such companies as P (More info...)

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Interview with George Ruan and Donald Patterson, Quub
For today's interview, we connected with George Ruan and Dr. Don Patterson, the co-founders of Irvine-based Quub (, which has taken research which Dr. Patterson was working on at UC Irvine and applied it to the world of Twitter, Facebook, MySpace, and other social networking sites. Ruan is the CEO of the firm, and Dr. Patterson is the CTO. Ruan and Patterson tell us a bit about the service and how it was inspired by Twitter, the company's experience spinning out technology from UC I (More info...)

posted on Wednesday, July 15, 2009(Full story)

Verve Powers Newspaper Site
Encinitas-based Verve Wireless is powering a new web site launch for local news publisher, as said it has launched a new mobile site, According to Examiner, the mobile site will highlight content produced by the firm's US coverage. is a division of the Clarity Media Group, owned by The Anschutz Company. Verve Wireless develops mobile publishing software, used by newspaper publishers to publish their content to mobile phones and other mobile (More info...)

posted on Wednesday, July 15, 2009(Full story)

BakBone Names Sales VP
San Diego-based data storage and backup software provider BakBone Software reported this morning that it has hired Roy Hogsed as senior vice president of worldwide sales. BakBone described Hogsed as a software industry veteran with more than 30 years of sales and executive management experience. Most recently, the San Diego-based firm said, Hogsed enjoyed a three-year stint as executive vice president of worldwide sales at nuBridges Inc. Before that, BakBone continued, he served roles as senior (More info...)

posted on Wednesday, July 15, 2009(Full story)

Pathway Genomics Scores Backing, Launches Genetic Testing Service
San Diego-based Pathway Genomics said this morning that it has launched a new, personal genomics testing startup which will offer affordable genetic tests to help consumers identify their risks for diseases. The firm also said it has scored high profile venture backing from The Founders Fund, Edelson Technology Partners, and Western Technology Investment, although it did not disclose any details of that funding. Pathway said it will offer genetic tests for under $250, which will provide an analy (More info...)

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Conexant Names Co-Presidents
Newport Beach-based Conexant Systems, a developer of semiconductors for the video, networking, and other markets, has named two new co-Presidents for the firm today. The firm said that Christian Scherp and Sailesh Chittipeddi will serve as co-Presidents for the company, as the firm completes its sale of its Broadband Access division to Ikanos Communications. Conexant had inked a deal to sell that business, which develops DSL and other products, to Ikanos in April. Scherp has been President of Co (More info...)

posted on Wednesday, July 15, 2009(Full story)

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