Wednesday, September 3, 2014XPrize Foundation Names Finalists For Qualcomm Tricorder PrizeCulver City-based nonprofit XPRIZE announced the ten finalists for the Qualcomm Tricorder XPRIZE today, picking teams from across the world to compete for $10M for developing a handheld device to monitor patient vital signs--ala the Star Trek "tricorder". According to the foundation, the ten teams came from Maryland, Canada, India, Massachusetts, Taiwan, Slovenia, California, and the United Kingdom. No Southern California teams made the cut. The prize is aimed at letting consumers make their own (More info...)
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Viking Therapeutics Sets IPO RangeSan Diego-based biopharmaceuticals developer Viking Therapeutics has set the estimated pricing for its IPO, saying in a filing Tuesday that it expects to price its IPO at between $10.00 and $12.00 per share. The company has applied to list as VKTX on the NASDAQ Global market. The company is hoping to raise up to $69.0M in its offering. The IPO is being underwritten by Oppenheimer & Co., Roth Capital Partners, Craig-Hallum Capital Group, MLV & Co., and Summer Street Research Partners. The company (More info...)
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Internet Brands Buys High Gear MediaLos Angeles-based Internet Brands said this morning that it has acquired automotive publisher High Gear Media. Financial terms of the buy were not disclosed. High Gear Media's automotive publications include The Car Connection, Motor Authority, and Green Car Reports. High Gear Media had been founded in 2007. Internet Brands was acquired itself earlier this year, by private equity firm KKR.
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Mapp Biopharmaceutical Gets Up To $42.3M For Ebola Drug ResearchSan Diego-based Mapp Biopharmaceuticals is slated to receive up to $42.3M in a bid to accelerate the company's development of a treatment for Ebola, the U.S. Department of Health and Human Services said Tuesday. According to the federal agency, it will provide $24.9M in an 18-month contract with Mapp Biopharmaceutical, with a possible extension of the contract to up to $42.3M. That funding will go towards supporting the government repsonse to the Ebola outbreak in West Africa. Mapp Biopharmaceut (More info...)
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BeyondTrust Acquired By Veritas CapitalSan Diego-based BeyondTrust, a developer of security software used for privilege and vulnerability management, has been acquired by private equity firm Veritas Capital, the companies said this morning. Financial details of the acquisition were not announced. Veritas Capital said it acquired BeyondTrust from private equity firm Insight Venture Partners. BeyondTrust was advised by Evercore in the deal.
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Aligned TeleHealth Gets Angel FundingAgoura Hills-based Aligned TeleHealth, a provider of telemedicine services and technology, said today that it has raised a round of private financing from two individuals. Size of the funding was not announced. The company said the funding came from Deepak Chopra, the CEO and founder of OSI Systems, and Hector Sulaiman, CEO of Controles Graficos. Both join the company's board of advisors. Aligned Telehealth is led by Nitin Nanda. Aligned TeleHealth gives access to remote psychiatrists, cardiolog (More info...)
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Foundry Medical Innovations Opens Startup Incubator In San Diego CountyCarlsbad-based Foundry Medical Innovations said today that it has launched a new, medical and diagnostic device incubator in San Diego County, which it says provides a shared workspace, access to technical engineering talent, business and marketing plan support, and connections to the venture capital community. Foundry Medical Innovations said it was founded by John Zeis and Paul DiPerna. The company said that Zeis was the founder of a medical product development company, and DiPerna was founder (More info...)
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Simulations Plus Closes Cognigen BuyLancaster-based Simulations Plus, which provides simulation and modeling software for the pharmaceuticals industry, said Tuesday that it has completed its acquisition of Cognigen Corporation. The deal was worth $7.0M, including $2.8M in cash and $4.2M in stock. Simulations Plus said the deal adds 30 new employees to the company, and also is expected to add approximately $5.0M in revenues in the coming fiscal year. Cognigen was based in New York. The deal had been announced on July 23rd.
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Tillster Gets Win With Pizza Hut ThailandLos Angeles-based digital rodering systems developer Tillster, which is led by Perse Faily, reported a win in Thailand with Pizza Hut Thailand. According to Tillster, it has developed a localized, online ordering platform for the pizza chain in Thailand, the second international win with Pizza Hut. Financial impact of the deal was not disclosed. Tillster had previously launched a online ordering site for Pizza Hut Canada. Tillster develops online and electronic ordering software for such brands (More info...)
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Local Corporation Wins Patent SuitIrvine-based local search provider Local Corporation said today that it has scored a win in a patent infringement suit it has against Fry's Electronics. Financial details of the settlement were not announced. Local Corporation said the win came out of a June, 2012 lawsuit it filed against Fry's for infringing on its U.S. Patent, No. 7,062,453. The company appears to be ramping up its patent lawsuit strategy; the company's CEO said it believes it could generate over $100M in future licensing fees (More info...)
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