BioLase Technology Inc., which makes laser devices used in dental and other procedures, is moving from San Clemente to Irvine.
BioLase’s new building is at 4 Cromwell in the Irvine Spectrum. The move expands BioLase’s headquarters by 54% to 57,000 square feet. All operational and administrative functions are set to be handled out of the building.
BioLase has been one of Orange County’s faster-growing public companies in terms of sales. But it’s also had its share of challenges in recent years. Those included revising its financial statements and delays in filing with the Securities and Ex-change Commission.
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BioLase’s new HQ: about 50% bigger |
Last May, BioLase had to give revised financial statements for 2002, 2003 and the first half of 2004, primarily because of sales tax issues.
BioLase also had to deal with some cost issues when producing its latest laser device, called the Waterlase MD.
The “transition to the Waterlase MD and associated component design changes has significantly affected our operating performance,” Chief Executive Robert Grant said. “These design changes, though costly, are important in order to properly serve our customers.”
But BioLase got a break earlier this month. Its stock got a small jolt after it said fourth-quarter sales would come in around $19 million, higher than estimates of $17 million. The device maker didn’t explain what spurred the improved outlook.
Separately, BioLase said last week that a federal judge dismissed a consolidated class-action lawsuit brought against the device maker by shareholders in 2004.
The suits alleged that BioLase failed to disclose material information, made false statements and took actions to artificially inflate and maintain the company’s stock price from late 2003 to summer 2004.
The judge gave the plaintiffs 30 days to file a new lawsuit.
UCI Shows Off Advances
Several University of California, Irvine, scientists are about to show off their biomedical devices to entrepreneurs and potential investors later this week.
On display:
Research on eye laser tissue remodeling and laser-cell interaction, presented by Tibor Juhasz, a biomedical engineering professor who also is Irvine-based IntraLase Corp.’s chief technology officer.
Advances in biomedical microdevices, computer simulation and mathematical modeling focusing on cancer progression and treatment, discussed by Vittorio Cristini, a UCI biomedical engineering, chemical engineering and mathematics professor.
New research in large-scale biomedical imaging, and direct, interactive volume rendering of large-scale biomedical image data, presented by Joerg Meyer, an assistant professor of biomedical engineering, electrical engineering and computer science.
The scientists are debuting their work at Octane’s “Meet the Researcher” series Friday at the University Club. Octane is short for Orange County Technology Action Network and is made up of technology and biomedical executives, venture capitalists, private investors and academic leaders from UCI and other universities.
Regulators Clear Cardiogenesis Trial
Cardiogenesis Corp., a Foothill Ranch medical device maker, said the Food and Drug Administration has signed off on a clinical trial for its percutaneous myocardial channeling procedure to relieve angina.
Getting the approval “has been an extremely time-consuming exercise that has taken nine months to complete, much longer than we initially anticipated,” said Michael Quinn, Cardiogenesis’ chief executive, in a release.
Cardiogenesis now “can enter into serious discussions with potential strategic partners in the interventional cardiology arena,” Quinn said.
The company’s devices include the Holmium: YAG laser and disposable fiber-optic accessories used to perform transmyocardial revascularization, another angina treatment.
Domain Leads Investment
The Laguna Beach office of Domain Associates LLC co-led a $16.5 million first round of venture capital financing for CoLucid Pharmaceuticals Inc., an Indianapolis-based drug maker that is looking for neurological disease treatments.
CoLucid was formed with a clinical-stage migraine molecule licensed from Eli Lilly & Co., along with a neuromodulator chemistry technology platform that originated at Sention Inc. of Providence, R.I.
CoLucid plans to use the funding to progress the migraine molecule through clinical trials, along with advancing the preclinical chemistry platform.
As part of the deal, Jesse Treu, a Domain partner, is going to be part of CoLucid’s board. Pappas Ventures out of Research Triangle Park, N.C., co-led the funding.
Bits and Pieces:
Qualis Health, Seattle, acquired Outlook Associates, Tustin, a healthcare information systems and operations improvement consulting firm, for an undisclosed price. Outlook’s served health plans, hospitals, medical groups, medical service groups, state and county health systems, safety-net providers and others since 1991 DataLabs Inc., Irvine, said it introduced DataLabs Clinical, a data management system that mixes paper entry with electronic capture, for clinical studies CoreValve SA, a French device maker with a North American office in Irvine, is going to be featured in the February issue of the EuroIntervention Journal, a medical publication.
