Mon.Aug 01, 2016

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BIOLASE Raises $10M In PIPE

socalTECH

Irvine-based dental laser maker BIOLASE , which trades on the NASDAQ as BIOL, said this morning that it has raised a private placement worth $10M. The funding came from Jack W. Schuler Living Trust, Oracle Partners, L.P. and Oracle Institutional Partners L.P., along with a number of its directors and officers. Biolase said the investors are paying $113.00 per share in stock, for 88,494 shares of its convertible preferred stock.

Oracle 136
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Petnet’s System Goes Down, Angers Customers

L.A. Business Journal

Petnet said its third-party servers suffered an outage on Wednesday evening, temporarily disabling about 10 percent of its internet-connected pet feeders.

Customer 116
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CureDuchenne Ventures Gets Exit At Bamboo Therapeutics

socalTECH

Newport Beach-based CureDuchenne Ventures , the venture investment arm of nonprofit medical foundation CureDuchenne, says it has scored an exit at Bamboo Therapeutics. CureDuchenne invested in the Series A funding for Raleigh, NC-based Bamboo Therapeutics back in February. Bamboo Therapeutics and Pfizer said this morning that Pfizer will pay as much as $645M for Bamboo Therapeutics, which is developing therapies for rare neuromuscular and central nervous system diseases.

Invest 116
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Silicon Beach Report Aug. 1: Petnet’s System Goes Down, Angers Customers

L.A. Business Journal

Petnet’s system goes down and angers customers, Technicolor to Launch virtual and augmented reality center, Virgin Galactic Gets Flight Testing License, and more.

Customer 109
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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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Factual Joins Advertising Privacy Group

socalTECH

Los Angeles-based Factual has joined a group focused on consumer privacy in mobile advertising, the company said last week. According to Factual, it has joined the Network Advertising Initiative (NAI) , an association dedicated to responsible data collection and its use for digital advertising. Factual, led by Gil Elbaz, offers up a giant database of location data to publishers, advertisers, and others.

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2nd DiversifyLA Event with 6 Notable Panelists | Connecting Tech Entrepreneurs in Silicon Beach

SoCal Tech Calendar

Tuesday, August 2, 2016 -- DiversityLA Event. On August 2, 2016, we will be hosting our second DiversifyLA event. A panel of entrepreneurs, investors and influencers will share with us their insights on the challenges in the workplace regarding diversity and discrimination. We are inviting all professionals who are interested in the future of technology and creating diverse, thriving companies.

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Biogen Buys Ionis Spine Disease Drug For $75M, Eyes FDA Filing

Xconomy

Spinal muscular atrophy affects over 25,000 people in the U.S. and stops many of them from ever being able to walk. Yet scientists’ understanding of the underlying genetic cause of SMA is fairly recent, which is why drugs for the disease are only now progressing through the pipelines of biotech and pharma companies. The most advanced of those therapies is a treatment developed by Carlsbad, CA-based Ionis Pharmaceuticals, and today that drug, known as nusinersen, took an important step forw

Study 63
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Sorrento Therapeutics Names New Board Member

socalTECH

San Diego-based biopharmaceuticals developer Sorrento Therapeutics announced this morning that it has named Dr. Yue Alexander Wu to its board of directors. Wu is co-founder, President, Chief Executive Officer and Chief Scientific Officer of Crown Bioscience International. He also served at Starvax Inernational and Burrill 7 Company as an investment banker.

San Diego 109
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Gaining an Edge: Understanding Cyber Risk Appetite

Xconomy

Not long ago, companies prepared for cyber risks the way they might for a hurricane, flood, or other disaster situation: Brace for the worst, and hope for the best. Those days are over. Security breaches across industries have put cyber squarely on everybody’s risk agenda. But while they’re taking cyber threats seriously, many companies are struggling to find the right balance in their approach.

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PacketSled Finds $5M

socalTECH

San Diego-based PacketSled , a developer of cybersecurity monitoring software, has raised $5M in a Series A funding, the company announced today. The funding was led by Keshif Ventures, and also included Blu Ventures and JHS Ventures. The company said the funding goes towards hiring in the areas of sales, marketing, and its product. PacketSled uses networking traffic monitoring to measure cybersecurity threats within an enterprise and for breach detection.

San Diego 109
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Avoid New Venture Shortcuts That Scare Away Investors

Startup Professionals Musings

After many years of working with angel investors seriously trying to find new ventures worthy of their hard-earned money, I find their frustration often exceeds that of entrepreneurs sincerely looking for financial help. That’s a lose-lose situation, so I’ve given a good bit of thought to how every entrepreneur can improve their odds, and keep investors less frustrated at the same time.

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Qualcomm Adds New Chinese License With OPPO

socalTECH

San Diego-based Qualcomm said on Sunday that it has signed another, 3G/4G license in China, with GuangDong OPPO Mobile Telecommunications Corp. Ltd. According to Qualcomm, OPPO has been granted a patent license develop, manufacture and sell 3G (WCDMA and CDMA2000) and 4G, including 3-mode (LTE-TDD, TD-SCDMA and GSM) complete terminals. Financial impact of the deal were not disclosed.

Patents 109
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PacketSled Raises $5M for Automated Cybersecurity Monitoring System

Xconomy

PacketSled, a cybersecurity startup based in suburban San Diego, has raised $5 million in a Series A funding round led by Keshif Ventures, a local angel investment fund that has put money into dozens of tech startups in the San Diego area. Two other small funds, Blu Ventures and JHS Ventures joined in the round. Founded in Del Mar, CA in 2012, PacketSled has developed cloud-based technology that continuously monitors its customers’ computer networks, and provides automated intrusion detection, r

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Bioniz Therapeutics Raises $13M In Funding Round

socalTECH

Irvine-based Bioniz Therapeutics , a company developing biopharmaceuticals aimed at treating immuno-inflammatory diseases and cancer, has raised $13M in a Series A funding. The funding was co-led by Takeda Ventures and former Allergan CEO Dr. David Pyott, and also included Mr. Joe Kiani (CEO of Masimo), and Cota Capital. As part of the funding, Pyott, Ilan Zipkin of Takeda Ventures and Kiani have all joined the company's board of directors.

Funding 109
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Petnet Faces Angry Owners After Outage Leaves Dogs, Cats Hungry

socalTECH

Los Angeles-based PetNet , which develops a connected, pet feeding device, is facing widespread complaints , after its automated pet feeding device malfunctioned over the last few days. According to Petnet, it experienced a system failure last week which. caused "a loss of scheduled feeds" and "failured remote feedings", which apparently left pets without food.