Sat.Jan 21, 2017 - Fri.Jan 27, 2017

Evite Moves Headquarters To Downtown LA


Los Angeles-based online invitations service Evite says it has moved its headquarters to downtown Los Angeles, doubling the size of its corporate office. The company, which previously had its headquarters in West Hollywood, said the move goes to accomodate rapid growth at the company. Evite is part of Liberty Interactive. The company says it has moved to a new office in the 600 Wilshire building.

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Silicon Beach Report Jan. 25: Ring Raises $109 Million, Eyes IPO

L.A. Business Journal

Ring raises $109 million and eyes initial public offering, Elon Musk endorses former ExxonMobil Chief Tillerson for Sec. of State, and 3-D car part printer Divergent raises $23 million

Trending Sources

Report: Biotech VCs Perpetuate Boardroom Gender Gap


If power in the business world is centered in the boardroom, women in biotech have a long way to go to get their fair share—and the venture community deserves much of the blame.

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You name the price; I’ll name the terms.


I admit that my dad taught me this when I was just a fifteen–year old kid starting a business and negotiating with suppliers for the first time. But I learned it again and again in my various business lives.

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30 Under 30: Los Angeles

SoCal Tech Calendar

Tuesday, January 31, 2017 -- 30 Under 30: Los Angeles. Another year of Forbes 30 Under 30, and another group of awesome LA founders getting global attention. We're celebrating and highlighting some of the recent selections with an evening event at Cross Campus Santa Monica. We'll host a panel of recent 30 Under 30 winners who will share what it takes to rise above the noise, and offer tips for chasing this particular honor. Moderated by Katelyn O'Shaughnessy, Founder, TripScope.

Cedars-Sinai Accelerator Names New Startup Class


The Cedars-Sinai Accelerator Powered by Techstars has announced the next class of startups to join the healthcare accelerator, saying this morning that it has added eight startups to what will be the second class for the program. The new startups include Cerebro Solutions , ENSO , FIGS , Frame Health , HealthcareTTU , HealthTensor , Noteworth , and ReferralMD.

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Silicon Beach Report Jan. 24: Hyperloop Transportation Technologies Plans French Research Center

L.A. Business Journal

Hyperloop Transportation Technologies plans French research center, Warner Bros. Interactive to develop Disney’s “Cars 3” game, and Faraday Future hit with another lawsuit for unpaid bills

New StockTwits CEO Looks to Expand Share of Investor Community


If you do a Google search for AAPL, the stock ticker for Apple, the top search results are typically Yahoo Finance, Twitter, Google Finance—and StockTwits, a social media communications platform for Wall Street traders and active retail investors. After taking over roughly six months ago, StockTwits CEO Ian Rosen made one of his first strategic moves with last week’s acquisition of SparkFin , a San Diego-based fintech app that provides novices with information on investing.

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Virtualitics Raises $3M For AR/VR/AI Startup


Pasadena-based Virtualitics , a new startup which provides data visualization in virtual reality (VR) and augmented reality (AR) environments, and says it uses machine learning and artificial intelligence, has raised $3M in a seed funding round. The funding came from un-named angel investors. Virtualics said its software is used to provide insights into "big and complex" data.

Anthem Caps Coverage Of Biogen Spine Drug Despite Wide FDA Approval


One of the nation’s major health insurers has placed limitations on access to the first-ever approved drug for the rare spinal muscular atrophy, validating patient fears that the high price tag of the drug, nusinersen (Spinraza), might make it hard for some with the disease to get treatment.

Jounce Gets $102M As Biotech IPOs Gain Steam in ’17


Jounce Therapeutics has gone ahead of its projections and raised roughly $102 million in an IPO, continuing an early, yet successful trend for biotechs trying to go public in 2017. The Cambridge, MA, company sold close to 6,365,000 shares at $16 apiece, almost 1 million more shares than it proposed to sell a few weeks ago. Jounce also priced above the $13 to $15 per share range it had set. It will start trading on the Nasdaq this morning under the symbol “JNCE.”

AnaptysBio Adds More Shares, Raises $75M in Stock Market Debut


AnaptysBio is the first U.S. biotech company to go public this year, raising $75 million in an IPO intended to finance development of antibody-based drugs for inflammatory disorders.

Bio Roundup: Trump News, Anthem’s Stand, Diversity by 2056 & More


It was a wild week in biotech and on Capitol Hill. A new study showed it may take another 40 years to achieve gender diversity in life sciences. Tensions continued to mount between drugmakers and payers over the rising costs of rare disease drugs. A flurry of deals took place, headlined by Johnson & Johnson’s $30 billion gamble on Swiss firm Actelion. And a group of biotechs led by Jounce Therapeutics were the first to test the IPO market in 2017.

Silicon Beach Report Jan. 26: Jeffrey Katzenberg Raises Nearly $600M for New Fund

L.A. Business Journal

Jeffrey Katzenberg raises nearly $600 million for new fund, Cedars-Sinai names new accelerator class, and Hulu to debut virtual reality show

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Ex-FDA Commish Califf Gives Props to Patient Groups—With Caveats


The nation’s former Food and Drug Administration commissioner Robert Califf, appearing for the first time since he resigned last week, told a Silicon Valley crowd this morning that the FDA will have to be flexible in coming years, allowing greater patient input into drug evaluation and leaning on outside watchdogs for help weeding out “imposters.”

Western Digital Names New CTO


Irvine-based Western Digital announced this morning that it has named Martin Fink as its new Chief Technology Officer. Fink was most recently CTO and director of HP Labs at Hewlett Packard Enterprise. He had spent 30 years at HP and HPE. Fink replaces Steven Campbell, who Western Digital said will be departing the company to "pursue other opportunities". Campbell had only been CTO since November of 2015. READ MORE>>. western digital disk drive storage executive martin fink steven campbell

Stubbs Alderton Precellerator Aims At Strategic Investments With Peter Csathy


Stubbs, Alderton & Markiles LLP , the business, technology and digital media law firm which runs a startup incubator and accelerator called the Precellerator , announced on Tuesday that it has started an effort to make strategic investments in a larger group of digital media and technology companies. As part of the effort, the firm said it has added longtime media veteran Peter Csathy to its board, and to lead its investment strategy.

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Inspired by NFL Teammate, Aethlon Seeks Diagnostic for Brain Injuries


Just as the NFL marketing machine is stoking the build-up to Super Bowl LI, a San Diego diagnostic company headed by a former Denver Broncos player has unveiled plans for a new clinical study of traumatic brain injuries among retired NFL players.

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Snap Inc. IPO Could Come in March

L.A. Business Journal

Snap Inc. intends to publicly file for an IPO next week, according to Recode, putting it on track for a March offering


VRMedia Takes Aim At Virtual Reality Software, Hardware


Los Angeles- and Austin-based VRMedia Technology said on yesterday that it has launched, as a joint venture between MC Capital Advisors/Media Content Capital, and virtual reality and computer graphics filmmaker Greg Passmore , and his company, PassmoreVR.

Hyperloop Transportation Technologies Opening Facility In France


Los Angeles-based Hyperloop Transportation Technologies , one of the two companies in Los Angeles working on advancing Elon Musk's Hyperloop concept for rapid transportation between cities through essentially giant pneumatic tubes, says it is opening up a 3,000-square meter facility in Toulouse, France. The new facility will be at the Francazal Airport, a former military based in Toulouse.

Silicon Beach Report Jan. 23: SpaceX Won’t Try to Land Its Next Rocket

L.A. Business Journal

SpaceX won’t try to land its next rocket, Snapchat implements rules to combat fake news and explicit content, and Southern California Edison seeks $570 million for electric vehicle programs

Angeles Equity Partners Finds $360M For First Private Equity Fund


Los Angeles-based Angeles Equity Partners , a new private equity investor, said this morning that it has raised $360M in its first private equity fund. The fund, Angeles Equity Partners I, L.P., came from institutional investors, public and private pension plans, endowments, foundations, a sovereign wealth fund, and alternative asset managers, according to the new fund. The new fund was founded by Timothy Meyer and Jordan Katz.

Snap Decisions

L.A. Business Journal

Snap could be courting more lawsuits as the tech giant moves forward on going public


Firm’s Data Storage Plan Out of This World

L.A. Business Journal

Cloud Constellation is high on the cybersecurity prospects of storing data on satellites


Ringer Makes D Series Noise

L.A. Business Journal

Doorbell maker Bot Home rings up $109 million Series D round with eyes on IPO


Amgen Gets European Recommendation For Approval For ABP 501


Thousand Oaks-based biotech Amgen announced this morning that the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA), has given its ADBP 501 (Biosilmilar Adalimumab) compouned a positive opinion for treatment of certain inflammatory diseases in adults. The company said the CHMP opinion is the first time an adalimumab biosimilar has been recommended for approval in the EU.

STARZ Rolls Out Amazon Fire TV App


Beverly Hills-based entertainment company STARZ , which is part of Lionsgate, said on Thursday afternoon that it has launched a new app on Amazon Fire TV. STARZ said its STARZ App gives users access to all of its original series, plus movies and first run films, on Amazon Fire TV and Fire TV Stick. The app requires an existing subscription to STARZ for accessing that content. STARZ also offers similar apps on Xbox One, Apple TV, iOS, Roku, and Android devices. READ MORE>>.