Healthcare Information Technology

Medsphere Raising $15M | Xconomy31 May

Here’s a company to keep an eye on. Carlsbad-based Medsphere is commercializing an open-source version of VistA, an electronic health record service developed for the VA.
 
http://www.xconomy.com/san-diego/2009/05/28/medsphere-raising-15m/

Healthcare Information Technology

NEJM — Use of Electronic Health Records in U.S. Hospitals31 May

From New England Journal of Meducine, actual use of Electronic Health Record systems (EHR) in US hospitals, as reported by David Blumenthal, now Barack Obama’s National Coordinator for Health Information Technology.
 
Particularly noteworthy are that only 3% of respondent hospitals had a fully functional EHR system, and that the VA EHR system – in place for over a decade – is a big success story the administration is trying to emulate.
 
http://content.nejm.org/cgi/content/full/360/16/1628

Industry Updates

Vulcan Capital scores a biotech windfall – but backs away from further biotech investments29 May

Last week, Paul Allen’s Vulcan Capital scored the largest venture capital gain yet this year with the sale of BiPar Sciences to Sanofi-Aventis – a return of over $100M on $13M in capital. However, Vulcan has backed away from investments in biotech, and doesn’t even have a biotech expert on the team anymore.
 
Steve Hall of Vulcan describes why:
 
“We still think there are big opportunities there, and certainly with our recent BiPar outcome, we are quite bullish on the return potential in general,” Hall says. “But overall, our challenge with biotech is that it’s a capital-intensive, higher-than-usual risk relative to other venture areas we invest in. You need upwards of $50 million to $100 million in capital to get to an exit inflection point. The IPO market which has traditionally been a key source of capital for biotech is closed, M&A has gotten more challenging as the Big Pharmas are trying to do more license deals to technology versus full take-outs. While we remain convinced there are opportunities at the science level, the structural dynamics to funding the biotech sector as a venture investor are really challenging. We deliberately dialed back our activity there as a result.”
 
Venture Capital

Investment Markets unfreezing for small businesses?29 May

It’s been interesting this week to watch small local companies announce cash infusions, both through loans and floating stock. Although amounts are small, it looks like credit and securities markets are unfreezing from earlier this year, at least for interesting tech bets.
 
 
 
 
 
 
 
 
Industry Updates

Leap Wireless Out to Raise over $1.3B to Expand, Retire Debt | Xconomy28 May

Leap Wireless, which owns pay-as-you-go Cricket Communications, is one of the fastest growing tech firms in San Diego. Leap plans to move their devices and services upscale with bets like Android while focusing on their young, value-oriented market segment in U.S. urban areas.
 
Wall Street may be bearish about this additional debt, but I think market conditions are perfect for Cricket to be more aggressive in growing their customer base.
 
http://www.xconomy.com/san-diego/2009/05/28/leap-wireless-out-to-raise-over-13b-to-expand-retire-debt/

Healthcare Reform,Industry Updates

Technology Review: What’s the Point in Patenting Genes?27 May

A good opinion piece from MIT Technology Review, arguing that a policy that encourages innovation in genetic testing is more likely to get us the benefit of better health than the current solution of slugging it out in patent lawsuits – like this month’s lawsuit between the ACLU and Myriad Genetics. Patenting genes associated with cancer does not seem the right way to go, but unfortunately the untested state of knowledge in this area muddies the waters.
 
http://www.technologyreview.com/biomedicine/22704/

Industry Updates

Amylin Shareholders Vote Today in Battle to Influence Board | Xconomy27 May

The current chapter of drama around local biotech Amylin should climax today as shareholders vote their support (or not) for the current management. Activist investors Carl Icahn and Eastbourne Capital Management are agitating for regime change based on the company’s recent track record.
 
http://www.xconomy.com/san-diego/2009/05/27/amylin-shareholders-vote-today-in-battle-to-influence-board/

Industry Updates

Vertex Starts Pivotal CF Trials | Xconomy27 May

Vertex, a Boston-based biotech with offices in San Diego, announces clinical trials of their new Cystic Fibrosis drug. It will be exciting to see how these go.
 
Cystic Fibrosis, an abnormality to a protein that regulates chloride ions in cells, is one of the most common genetic conditions in our population, and often shows up in business models that monetize gene therapies with the potential to lead to personalized medicine.
 
http://www.xconomy.com/boston/2009/05/27/vertex-starts-pivotal-cf-trials/

.gen Tech News

25 May

We’ve started work with a large local biotech firm, where we’ll be bringing our expertise in software automation to the tools effort of their Verification and Validation team. Contact us to see if we can do something similar for you!

Industry Updates

Regulus Hits GSK Milestone | Xconomy19 May

Regulus’s new microRNA blocker technology (aka anti-MIR) hits its first milestone for marketing/funding partner GSK. This promising approach delivers small pieces of RNA into cells to block transcription and thereby slow gene expression.
 
http://www.xconomy.com/san-diego/2009/05/14/regulus-hits-gsk-milestone/

Company News

  • - 2013/03/04

    One of our team members is now working with Hospira on infuser product support. Contact us to find out more!

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    We're currently working with online elections provider Everyone Counts, Inc. Contact us to find out more!

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