Two DNA sequencing companies raised more than $140 million combined, Daré Bioscience inked a potential commercialization deal worth up to $310 million, and Human Longevity sold its cancer division for $37 million, and separately, acquired a company.
San Diego-based Neurocrine could buy the rights to yet another experimental epilepsy drug, per a recently announced agreement that could be worth up to $412 million.
Element Biosciences, another San Diego upstart that’s trying to make DNA technology more accessible, recently raised an $80.3 million round.
BIOTECH: Company focused on mitochondria health, raises $85M round
Boosting ambitious plans, Epirium recently secured an $85 million Series A round, amid greater investment in muscle therapies.
DEVICE: Product Development, CRO Services Focus on Diagnostics
Point-of-care diagnostic testing, which allows consumers and professionals to get quick lab-quality test results within minutes, has become a huge business.
HEALTH: Excise Tax Was an ACA Financing Mechanism
A recently signed federal spending bill repealed a 2.3% excise tax on medical device makers that was scheduled to resume this month, a boon to San Diego’s medtech industry.
After three decades helming Carlsbad’s Ionis Pharmaceuticals, Stanley Crooke stepped down at the end of 2019. Retirement isn’t for him, it seems.
San Diego’s PharmAkea is merging with Denmark-based Galecto, a deal the companies said would combine overlapping drug development programs aimed at cancer and fibrosis.
TECH: Co. Scraps Planned $1.2 Billion PacBio Acquisition
San Diego’s Illumina will no longer buy Pacific Biosciences for $1.2 billion, a decision the companies mutually reached following antitrust action on both sides of the pond. Pacific Biosciences, or PacBio, had the potential to add another dimension to Illumina’s DNA-reading technology that’s the backbone of everything from ancestry tests to prenatal screening. But last month, the U.S. Federal Trade Commission moved to block the transaction, and the U.K.’s Competition and Markets Authority in October said it might do the same. $98M Breakup Fee Per a Jan. 2 announcement, Illumina will pay a $98 million break-up fee to PacBio. But PacBio must repay the money if it strikes an agreement to be acquired by Sept. 30 and consummates the deal within two years. Illumina climbed to the top of the DNA sequencing market with short-read sequencing that amplifies snippets of DNA. Pacific Biosciences, or Pac
Deal To Give Tarveda Access to Nasdaq
San Diego-based Organovo last summer put itself up for sale, after its implantable liver program failed a clinical trial.
San Diego’s Illumina will no longer buy Pacific Biosciences for $1.2 billion, a decision the companies reached following antitrust action on both sides of the pond.
Recently, publicly-traded Organovo and Tarveda Therapeutics agreed to merge. The deal will take privately-held Tarveda public.