Tuesday, January 5, 2016Qualstar Gets NASDAQ WarningWestlake Village-based Qualstar, the manufacturer of tape drives and high efficiency power supplies, has received a warning from the NASDAQ over its bid price. According to Qualstar, it received the latter on December 29th from the NASDAQ, a Notice of Bid Price Deficiency--a result of the company's stock trading below $1.00 per share. The company says it has 180 calendar days to regain compliance with the minimum price requirement before facing further action. Qualstar trades as QBAK.
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Techstars Healthcare Accelerator Deadline ApproachesThe Techstars Healthcare Accelerator, the new startup accelerator in Los Angeles which is being run by Cedars-Sinai and Techstars, said its deadline for applications closes this Friday, January 8th. The accelerator--the second for Techstars in Los Angeles--is aimed at healthcare-based startups looking to "transsform healthcare delivery". The accelerator said companies in the program will be announced in early March, and the three month program will kick off in April. Techstars also runs the Dis (More info...)
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Faraday Future Unveils Concept CarStealthy, Los Angeles-based electric vehicle startup Faraday Future has unveiled its first "concept car" to the public this morning, showing off what it calls the FFZERO1 CONCEPT at CES. The vehicle--think "Batmobile"--is a race car that Faraday Future said it will use to use as a test bed for its future vehicles. The FFZERO1 has more than 1,000 horsepower and a top speed of 200 MPH, and goes from 0-60 in less than 3 seconds, acccording to Faraday Future.
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NantWorks, NantHealth Buy NaviNetLos Angeles-based NantWorks, and its subsidiary, NantHealth, said this morning that they have acquired NaviNet, a healthcare technology company providing payer-provider collaboration software. Financial terms of the acquisition were not announced. NantWorks called the acquisition its "most significant acquisition to date", and said that the deal was backed by NantVentures, its private equity arm. NaviNet provides services to such customers as Blue Cross Blue Shield, Aetna, Cigna, and others, pro (More info...)
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Greenwave Systems Raises $60MIrvine-based Greenwave Systems, a developer of a platform used for managing Internet--Things systems, router, video, and wireless products, said today that it has raised $60M in funding. The funding included $45M in a Series C equity funding, and $15M in mezzanine debt. The $45M equity funding was led by EDBI and Singapore Technologies Telemedia, along with The Westly Group and E.ON. The debt portion came from BDCA (Business Development Corporation of America). Greenwave is led by Martin Mannich (More info...)
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New Matter Launches 3D Printer To MarketPasadena-based 3D printer manufacturer New Matter has released its 3D printer, the MOD-t 3D Printer, into general availability, the company said Monday. New Matter said the printer is available now for $399. New Matter is looking to make 3D printing more accessible to consumers, using PLA filament, and an online marketplace of existing 3D printable designs. New Matter says its 3D printer features a "sleek, minimalist" design designed to be a showcase of a user's home. New Matter said the general (More info...)
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GlySens Picks Up $20M More For Glucose MonitoringSan Diego-based Glysens, a developer of continuous glucose monitoring systems, has picked up $20M in a Series D financing round. According to GlySens, the new round ccame from its prior investors from its Series C funding, plus additional new investors. Names of those investors were not announced by the company. GlySens develops a wireless, glucose monitoring system for individuals with diabetes, which includes a batter that lasts for a year. The company is led by William Markle.
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Halozyme Finds $150M In Debt Financing For Cancer EffortsSan Diego-based Halozyme Therapeutics, the publicly held cancer therapeutics developer, has entered into a $150M credit agreement, the company said this morning. The debt funding comes from Pharmakon Advisors and Athyrium Capital Management. Halozyme said the credit line is secured by future royalties of its ENHANZE products, which are coming from deals with Roche and Baxalta. The company said the funds go to support initiation of a phase 3 study in pancreatic cancer, along with studies in non-s (More info...)
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