Mon.Aug 31, 2020

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Music Platform Stem Secures $10 Million in Funding

L.A. Business Journal

West Hollywood-based Stem Disintermedia Inc. has raised $10 million in a funding round led by Slow Ventures with follow on investment from Santa Monica-based Upfront Ventures and Aspect Ventures.

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Formsense Part Of $2.4M Grant Award

socalTECH

San Diego-based Formsense , a startup developing wearables and "smart apparel", says it has been chosen as a technology partner for a $2.4M grant from the National Institutes of Health (NIH). According to the company, it is part of a team from Umass Amherst, which is looking to deploy and test a new mobile health system--based on its wearables--to monitor and encourage movement and activity in the weak upper limb of stroke survivors in an ambulatory setting.

San Diego 133
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Mayer’s Departure Could Speed Sale of TikTok

L.A. Business Journal

Less than four months after joining then high-flying TikTok as chief executive, former Walt Disney Co. veteran Kevin Mayer departed the company last week.

Sales 130
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FASHIONPHILE Finds $38.5M For Luxury E-Commerce

socalTECH

Carlsbad-based FASHIONPHILE , and e-commerce company which sells pre-owned luxury handbags, watches, and fine jewelry, has raised $38.5M in a Series B funding round. The funding was led by private equity firm NewSpring Growth. The company is also backed by Neiman Marcus. FASHIONPHILE was founded in 1999. According to the company, the new funding will go towards operational and geographic scaling, allowing it to further expand its footprint and regional fulfillment centers, both domestically and

Commerce 124
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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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Bingie App Tunes Into Viewer Recommendations

L.A. Business Journal

When it comes to movie and TV show recommendations, El Segundo-based app developer Bingie Inc. wants to prioritize friends and family over algorithms.

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Erasca Bumps Series B To $236M

socalTECH

San Diego-based cancer treatment developer Erasca announced Monday that it has completed a $36M extension to its Series B funding round, bringing that funding to $236M in total. The new funding came from such investors as Partner Fund Management and Orbimed, and brings the company's total raised to $300M. Erasca said the funds will go to finance the clinical development of multiple promising oncology programs, continue driving corporate development efforts and further advance the companys in-ho

San Diego 113

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Steno Snags $3.5M For Remote Court Reporting

socalTECH

Los Angeles-based Steno , a new startup which offers up remote court reporting services, has raised $3.5M in a seed funding, according to the company. The funding round was led by First Round Capital. Steno says it offers up a full suite of court reporting services, offering up remote depositions and handling things like payments and scheduling. The company's co-founders are Dylan Ruga and Gregory Hong; the company says it has now raised $5M in total funding.

Report 113
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Sootchy App Helps Parents Crowdfund College Costs

L.A. Business Journal

The downtown-based startup wants to help parents leverage their friends and family networks to help cover college costs.

Help 130
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Dorian Debuts With $3.25M Funding

socalTECH

Los Angeles-based Dorian , a startup developing a way for writers and storytellers to create their own games, without coding, has raised $3.25M in a seed funding round, the company disclosed on Monday. The funding was led by March Capital Partners, and also included VGames, Konvoy Ventures, London Venture Partners, Andover Ventures, Night Media, as well as angel Michael Chow (of the Twitch series "Artificial").

Funding 113
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Soochy App Helps Parents Crowdfund College Costs

L.A. Business Journal

The downtown-based startup wants to help parents leverage their friends and family networks to help cover college costs.

Help 130
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Chipotle Taps Online Promotions To Help Raise Money For Students

socalTECH

Newport Beach-based restaurant chain Chipotle Mexican Grill says it is launching an online effort and promotions, to help support under-resource students who are returning to school, in a shift from the company's usual nonprofit fundraising effort. According to the company, it is launching a digital fundraising program--its first--to help with fundraisers, with an effort to donate laptops to students in need.

Help 113
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5 Team Engagement Principles Are Vital To Leadership

Startup Professionals Musings

The days of leadership without engagement are gone. With interactive social media and video everywhere, everyone needs to feel they have a relationship with their leaders, and every brand needs leader personification for customers to relate. Soon you won’t be able to name a business as one of your favorites if you can’t personally visualize and relate to company leadership.

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Ontrak Shifts To NASDAQ Global Market

socalTECH

Santa Monica-based Ontrak , a developer of artificial intelligence and telehealth enabled, virtualized outpatient healthcare treatment, says it has upgraded to the NASDAQ Global Market, trading under the ticker OTRK. The company was previously listed on the NASDAQ, not the NASDAQ Global Market. Ontrak said it believes the upgrade will enhance the company's visibility to all types of institutional investors.

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National Business Plan Competition Deadline/Pismo Ventures

SoCal Tech Calendar

Sunday, September 6, 2020 -- National Business Plan Competition Deadline/Pismo Ventures. Pismo Ventures presents the National Venture Plan Competition (NVPC). The NVPC is a business plan competition offering startups and entrepreneurs, across the United State, a unique opportunity to present their plans to experienced investors, screen in front of multiple investor groups nationwide, win cash and in-kind prizes, and participate in an array of invaluable webinars.

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SpaceX Successfully Launches Earth Observation Satellite Into Orbit

socalTECH

Hawthorne, California-based SpaceX successfully launched another mission into space on Sunday, putting the SAOCOM 1B earth observation satellite--as well as two rideshare payloads, the Tyvak-0172 and PlanetiQ's GNOMES-1--successfully into space. The launch was from Space Launch Complex 40 (SLC-40) at Cape Canaveral Air Force Station, and occurred at 7:18pm EDT.

SpaceX 113
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Early Bird Sale for Xcelerate at Biotech Week Boston Ends This Friday

Xconomy

Don’t miss out on savings for this year’s online Xcelerate Keynote Series at Biotech Week Boston – our early bird sale ends this Friday! Speakers include: Jeff Baker – Deputy Director, Office of Biotechnology Products, FDA Michelle McMurry-Heath – President & CEO, BIO John Maraganore – CEO, Alnylam Pharmaceuticals Yvonne Greenstreet – Chief Operating Officer, Alnylam Pharmaceuticals Andrew Plump – President, Research & Development, Takeda Dhavalk

Sales 98
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Ionis Pharmaceuticals Acquires Rest Of Akcea Therapeutics In $500M Deal

socalTECH

Carlsbad-based Ionis Pharmaceuticals said this morning that it is acquiring the remaining stake that it does not already own of Akcea Therapetuics. According to Ionis Pharmaceuticals, it will pay $18.15 per share in cash for the remaining 24% of shares of Akcea common stock it does not already own. The deal is worth approximately $500M. Ionis Pharmaceuticals is focused on RNA-targeted drug discovery and development.

Develop 100
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Akcea Therapeutics Is Returning to Parent Ionis Pharma in $500M Buyout

Xconomy

Akcea Therapeutics is returning to its parent company, Ionis Pharmaceuticals, in a $500 million deal that brings an end to a tumultuous three years as a standalone company. The definitive agreement announced Monday calls for Carlsbad, CA-based Ionis (NASDAQ: IONS ) to pay $18.15 for each share of Akcea (NASDAQ: AKCA ) that it does not already own. That price is a 60 percent premium to the Boston-based company’s closing stock price on Friday.

Pricing 89