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A recently signed federal spending bill repealed a 2.3% excise tax on medical device makers that was scheduled to resume this month, a boon to San Diego’s medtech industry.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.
MEDICINE: It Will Initially Provide Care for Medicare Advantage Plan
Just four major medical organizations dominate health-care landscape in San Diego County.
Co. Has Four Firms Under Management, Open to More
San Diego’s Maravai LifeSciences launched in 2014, armed with a war chest of $300 million to buy and grow life sciences companies.
The company’s programs fall under the banner of kinase inhibitors, which are designed to thwart cancers from metastasizing.
Carlsbad-based Ionis Pharmaceuticals recently licensed its experimental Alzheimer’s drug to Biogen, earning $45 million upfront and potentially an additional $155 million in milestone payments.
All Rooms Will Be Private Rooms; Some Floors To Be Dedicated to Specific Care
Sharp HealthCare is readying the $244 million new tower at Sharp Chula Vista Medical Center to open in January.