Tue.Jun 23, 2020

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Upfront Ventures Seek $280M In New Fund, Upfront VII

socalTECH

Los Angeles-based Upfront Ventures has just kicked off an effort to raise a new, $280M venture capital fund, Upfront VII, L.P. , according to a regulatory filing filed by the company this week. According to the filing, there have not been any commitments to the fund yet. Upfront--as is expected--has not announced any details on the new fund yet. Upfront Ventures started raising $250M in a growth fund, Upfront Growth II, back in June of 2019, and raised its last core fund, Upfront VI, back in Jun

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Reneo Readies for Global Test of Drug for Rare Mitochondrial Disease

Xconomy

Reneo Pharmaceuticals has encouraging results from an early trial of a compound it is advancing for rare diseases characterized by impaired mitochondria—our cells’ energy generators—and the company says it is now designing a large global study of its drug candidate. Headed by president and CEO Niall O’Donnell (pictured), the San Diego-based company launched last year with $50 million and an investigational small molecule drug it licensed from High Point, NC-based vTv Therapeutics (NA

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Fandango Launches Program For Safe Return To Theaters

socalTECH

Los Angeles-based Fandango is attempting to help moviegoers return to theaters, with a new program it launched on Tuesday. According to Fandango, it will start showing social distance seat maps, information on safety policies provided by movie theater chains, and search tools, along with videos, to help moviegoers navigate the return to theaters. The company said in a statement that it hopes to be a "one-stop resource" for movie fans get back to theaters.

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Poseida Therapeutics Files For IPO

socalTECH

San Diego-based Poseida Therapeutics , which is developing cell and gene therapeutics products, recently filed for an IPO, saying it is looking to raise up to $115M in a public offering. The company has filed to trade on the Nasdaq Global Select Market as PSTX. The IPO is being underwritten by BofA Securities, Piper Sandler, and William Blair. The company is venture backed by Malin Life Sciences, Novartis Pharma AG, Titan LLC, Longitude Venture Partners, as well as Aisling Capital, Pentwater Cap

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Can You Ask for Office Rent Relief? How to Manage Your Lease During COVID-19

Office leases are one of companies’ largest expenses, and if your whole team is working from home with no clear end in sight, you may be wondering what to do about your lease.

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Jeet Launches App For Better Food Ordering

socalTECH

Tired of trying to order from a restaurant menu, but can't quite picture what you want? Los Angeles-based Jeet said it launched today with a new app, which it says helps solves the problem of menus not having pictures. The company said the free app--which runs on iOS--allows customers at restaurants to see visual images of menu items, see what your friends have eaten, and works directly within restaurants.

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Loot Crate, BuzzFeed Launch New Crate

socalTECH

Los Angeles-based Loot Crate and BuzzFeed says they have created a new "crate" to help people take a break from the noise, slow down, and enjoy some time offline. According to the two, the new "Joy of Missing Out Crate" is aimed at helping cure "fear of missing out syndrome" and onine burnout caused by keeping up with all of the apps, news sites and blogs.

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Illumina Selects Seven Companies For Accelerator

socalTECH

San Diego-based life sciences equipment maker Illumina says it has selected seven, early-stage companies to join its first startup accelerate, the. According to the company, due to the pandemic, it is kicking off its efforts digitally this month, due to lockdowns and travel restrictions. The companies include three companies in Cambrige, UK, and four companies in the San Francisco Bay Area.

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