Monday, August 1, 2016Petnet Faces Angry Owners After Outage Leaves Dogs, Cats HungryLos Angeles-based PetNet, which develops a connected, pet feeding device, is facing widespread complaints, after its automated pet feeding device malfunctioned over the last few days. According to Petnet, it experienced a system failure last week which
caused "a loss of scheduled feeds" and "failured remote feedings", which apparently left pets without food. Petnet is backed by Black River Ventures, Aspiration Growth, iRobot and Amazon Alexa Fund, along with others.
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CureDuchenne Ventures Gets Exit At Bamboo TherapeuticsNewport Beach-based CureDuchenne Ventures, the venture investment arm of nonprofit medical foundation CureDuchenne, says it has scored an exit at Bamboo Therapeutics. CureDuchenne invested in the Series A funding for Raleigh, NC-based Bamboo Therapeutics back in February. Bamboo Therapeutics and Pfizer said this morning that Pfizer will pay as much as $645M for Bamboo Therapeutics, which is developing therapies for rare neuromuscular and central nervous system diseases. CureDuchenne did not say (More info...)
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PacketSled Finds $5MSan Diego-based PacketSled, a developer of cybersecurity monitoring software, has raised $5M in a Series A funding, the company announced today. The funding was led by Keshif Ventures, and also included Blu Ventures and JHS Ventures. The company said the funding goes towards hiring in the areas of sales, marketing, and its product. PacketSled uses networking traffic monitoring to measure cybersecurity threats within an enterprise and for breach detection. The company is led by Matt Harrigan, and (More info...)
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Bioniz Therapeutics Raises $13M In Funding RoundIrvine-based Bioniz Therapeutics, a company developing biopharmaceuticals aimed at treating immuno-inflammatory diseases and cancer, has raised $13M in a Series A funding. The funding was co-led by Takeda Ventures and former Allergan CEO Dr. David Pyott, and also included Mr. Joe Kiani (CEO of Masimo), and Cota Capital. As part of the funding, Pyott, Ilan Zipkin of Takeda Ventures and Kiani have all joined the company's board of directors. Bioniz said its biopharmaceutical efforts are aimed the (More info...)
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BIOLASE Raises $10M In PIPEIrvine-based dental laser maker BIOLASE, which trades on the NASDAQ as BIOL, said this morning that it has raised a private placement worth $10M. The funding came from Jack W. Schuler Living Trust, Oracle Partners, L.P. and Oracle Institutional Partners L.P., along with a number of its directors and officers. Biolase said the investors are paying $113.00 per share in stock, for 88,494 shares of its convertible preferred stock. Each share of that convertible preferred stock converts to 100 shares (More info...)
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Sorrento Therapeutics Names New Board MemberSan Diego-based biopharmaceuticals developer Sorrento Therapeutics announced this morning that it has named Dr. Yue Alexander Wu to its board of directors. Wu is co-founder, President, Chief Executive Officer and Chief Scientific Officer of Crown Bioscience International. He also served at Starvax Inernational and Burrill 7 Company as an investment banker. The copany said Wu replaces Doug Ebersole, who resigned from the company's board due to personal reasons.
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Qualcomm Adds New Chinese License With OPPOSan Diego-based Qualcomm said on Sunday that it has signed another, 3G/4G license in China, with GuangDong OPPO Mobile Telecommunications Corp. Ltd. According to Qualcomm, OPPO has been granted a patent license develop, manufacture and sell 3G (WCDMA and CDMA2000) and 4G, including 3-mode (LTE-TDD, TD-SCDMA and GSM) complete terminals. Financial impact of the deal were not disclosed.
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Resonant Loses CFOGoleta-based radio frequency filter developer Resonant said late Friday that its CFO, John Philpott, has left the company. Resonant said Philpott left for "personal reasons", and has been replaced by interim CFO Ross Goolsby, of Bridgepoint Consulting. The firm said it has promoted Lisa Wolf, the company's controller, to the position of VP of Finance, and also launched a search for a new CFO.
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Factual Joins Advertising Privacy GroupLos Angeles-based Factual has joined a group focused on consumer privacy in mobile advertising, the company said last week. According to Factual, it has joined the Network Advertising Initiative (NAI), an association dedicated to responsible data collection and its use for digital advertising. Factual, led by Gil Elbaz, offers up a giant database of location data to publishers, advertisers, and others.
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