Monday, November 2, 2015XYZ Targeted For Aiding Chinese CensorshipLos Angeles-based domain registry operator XYZ, the domain name extension registrar led by Daniel Negari, is under fire for agreeing to censor domain names that China finds offensive. The editorial in the Wall Street Journals says that XYZ lets China ban domain names--even those intended for use in the United States only--which contain such terms as "freedom", "liberty", and "democracy", as well as an references to the Tiananmen massacre. A spokesperson for XYZ did not respond to comments on the (More info...)
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Snapchat Privacy Change Causes Fear, ConfusionVenice-based disappearing messaging service Snapchat stepped into a brief controversy over the weekend, over changes to its Privacy Policy and Terms of Service. The company, which posted new terms of servie changing language on how it is licensed to used content created by its users, drew fire for a perception that the company was claiming rights to a user's private snaps and chats. However, in a blog post, the company explained there was not any change in the ownership of those Snaps and Chats, (More info...)
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Crinetics Pharmaceuticals Finds $40MSan Diego-based Crinetics Pharmaceuticals, a company developing treatments for endocrine disorders, said this morning that it has raised $40M in a Series A funding. The funding was led by 5AM Ventures, Versant Ventures, and Vivo Capital. As part of the funding, Wendell Wierenga has been named as its Chairman, and 5AM's Mason Freeman, , Versant's Steve Kaldor, and Vivo Capital's Mahendra Shah have all joined the board. Crinetics said it is developing a small molecule somatostatin agonist for the (More info...)
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Quality Systems Buys HealthFusion Holdings For As Much As $190MIrvine-based Quality Systems said late Friday that it has acquired San Diego-based HealthFusion Holdings, in a deal worth $165M plus up to $25M in earnout. HealthFusion is a developer of web-based, cloud software used by physicials, hospitals, and medical billing services. Quality Systems said HealthFusion has an annual run rate of around $30 million. Quality Systems is funding the acquisition with $200 million in financing from J.P. Morgan and U.S. Bank. QSII said it was advised by J.P. Morgan (More info...)
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Microsemi Bumps Offer For PMC-SierraAliso Viejo-based semiconductor maker Microsemi said Friday that it has increased its proposal to acquired PMC-Sierra, to approximately $11.88 per PMC share, up from an earlier offer of $11.50 per share for the company. Microsemi said it now is proposing to pay $9.04 in cash and 0.0771x of its common stock for each share of PMC. PMC, for its part, says it is still committed to its original deal to be acquired by Skyworks Solutions, which says it will pay $11.60 in cash for PMC. PMC said it does (More info...)
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AssetAvenue Names New CEOLos Angeles-based online real estate investment marketplace AssetAvenue said this morning that it has named Varun Pathria as its new CEO, and shifted founder and CEO David Manshoory to President. Pathria was most recently AssetAvenue's Chief Investment Officer, and previously had been at Colony Capital. Manshoory said the swap is aimed at how to move AssetAvenue forward and to help position the company for maximum growth.
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Ceres In Alfalfa Breeding EffortThousand Oaks-based agricultural biotechnology developer Ceres announced this morning that it has entered into a multi-year agreement with Forage Genetics International, to develop and commercialize an improved version of alfalfa. Ceres said it will work together with FGI on evaluating and commercializing alfalfa varieties as soon as next year. Financial details of the deal were not disclosed. Ceres uses biotechnology techniques and plant breeding to introduce specific, biotech trains into crops (More info...)
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