HEALTH: Hospitals Grapple With Use, Costs and Concerns
Rady Children’s Hospital holds a world record for fastest genomic diagnosis. Instrumental in the feat: artificial intelligence.
AT&T Inc. is laying off 101 employees in San Diego County, representatives of the employees’ labor union said earlier this month. The cuts affect premises technicians who install new services and make repairs.
TECH: Customer Data Platform Casts Big Net Across Systems
San Diego-based software company Tealium closed a $55 million funding round May 15. The new funds will help Tealium grow as the competition heats up Chief Financial Officer Doug Lindroth said.
FUNDING: Investment Cycle Could Be Reaching Its End, Chairman Says
Tech Coast Angels, an angel investment group with five chapters across Southern California, invested $10.8 million into 58 startups last year. The total amount invested decreased slightly from 2017, when the group invested $14.2 million into 43 companies.
LEGAL: Incubator Includes Legal Services Office Space, IP Advice
After expanding its offices earlier last fall, Procopio is hosting five startups at its LaunchPad incubator at the firm’s Del Mar Heights location. The nine-month program provides technology startups with office space and legal services, including assistance with valuation and intellectual property protection.
ENERGY: Battery Maker Plans to Move to Larger Facility
Flux Power Holdings Inc., which produces advanced lithium batteries for small industrial vehicles, reported a net loss of $3.8 million, or 8 cents per diluted share, on net revenue of $1.75 million during its third quarter, which ended on March 31.
BIOTECH: Co. Gets Licensing Fee From Argenx
San Diego-based Halozyme reported higher revenue and net income in first quarter results, thanks to the company’s platform technology. Looking forward, the company is heading for an inflection point.
OFFICE: Monthly Rents Expected to Rise 3% to 4% By Year’s End
Demand for office space is getting ever more intense, according to a report from the commercial brokerage firm Colliers International.
TECH: Electronics Specialist Has 40% of Revenue From Defense
Kearny Mesa-based Cubic Corp. reported 21 percent year-over-year growth in sales from January to March 31.
Tealium raised $55 million in a series F round that closed on Wednesday.
life science: Also On the Move, BioLegend Claims Entire Street
Two biotechs, Takeda Pharmaceutical Co. and BioLegend, recently opened new campuses in San Diego.
TECH: VC Led $5.3M Round for MedCrypt
Section 32, the local venture fund started by former Google Ventures founder Bill Maris, made its first San Diego investment May 7. The firm led a $5.3 million Series A round in MedCrypt, a San Diego cybersecurity startup that helps medical device vendors ensure their devices are secure. Previous investors Eniac Ventures and Y Combinator also participated in the round.
HMD Global, which makes Nokia phones, signed a licensing agreement with Qualcomm to be able to use its 5G technologies.
STARTUP: Leader Tells Cos. to Start Taking Action Within Weeks
Silvia Mah joined Connect as its president and chief operating officer in March. The nonprofit, which recently merged with San Diego Venture Group, hosts one of San Diego’s oldest accelerator programs, Springboard.
Steve Mollenkopf was awarded 40,794 fully-vested shares of company stock.