Nemus Bioscience Inc. (OTCQB: NMUS) received a $1.75 million private placement from majority shareholder Emerald Health Sciences Inc. and other investors.
UCI to Fill Two Positions; Providence Taps New Head
High performers like UC Irvine Medical Center and Providence St. Joseph Health—its local network comprised of seven hospitals—experienced changes on the executive level in the year ended Sept. 30, the former in search of a new chief executive, the latter naming a regional head to oversee Los Angeles, Orange and San Bernardino counties.
If there’s one word to describe the nation’s healthcare industry it’s uncertainty. The new tax bill repealed the Affordable Care Act’s individual mandate provisions that required most Americans to purchase health insurance or face penalty, which could hurt hospital revenue with fewer people buying health plans. The bill also took away nonprofit hospitals’ ability to use advanced refunding to replace outstanding bonds with bonds at lower interest rates.
Nondrug Therapy TMS Targets Depression
Mission Viejo-based MYnd Analytics Inc. (Nasdaq: MYND) is in the business of behavioral health.
Hospitals Up Game To Better Coordinate Care
It was the worst of times and the worst timing. “The uptick in flu cases in mid-December spiked around Christmas and New Year’s Eve, around the holidays, a lot of traveling and socializing with family and friends,” said Dr. Wendy Coling, a Kaiser Permanente primary care physician in Orange County. She said it didn’t help that this year’s H3N2 influenza virus is a “more virulent flu strain.”
Irvine-Based Company Grows With New Office
SpringboardAuto, an Irvine-based online direct lender that connects customers with auto lenders, has doubled its office size and now plans to double its employee count to 100 by the end of the year.
Technology Gains Traction With Reimbursement Change
There are plenty of opportunities for software solutions in healthcare operations, ranging from medical-records management to analytics to compliance.
Include Monitoring, More Access to Care on Demand
Digital health is the buzzword when it comes to the present and the future of care. Technologies, such as telemedicine, remote patient monitoring and patient engagement via smartphones, are designed to enable providers and patients to manage health and wellness more effectively and cost-efficiently.
Ready to Roll Out Device, Says First Order in March
Given the particularly bad flu season (see related story, page 26), GermFalcon’s germ-killing device is well-timed. The device uses ultraviolet-C light, the kind used in hospitals, to disinfect airplane cabins.
Tustin-based Avid Bioservices Inc. yesterday priced a public offering of 9 million shares of common stock at $2.25 apiece, and expects more than $20 million in gross proceeds after the offering closes next week.
Avid Bioservices Inc. in Tustin will sell its clinical-stage immunotherapy cancer drug candidate to Oncologie Inc. for $8 million upfront—with payments spread over six months—and up to $95 million in development, regulatory and commercialization milestones.
Got European, US Clearances, Stock Uptick
January was a busy month for Irvine-based patient monitoring device maker Masimo Corp., which announced Food and Drug Administration approval of two devices.
HEALTHCARE: New Aliso Viejo HQ; hiring 120
A primary care doctor is the first stop for a patient’s medical care, including chronic disease management.
Lake Forest-based ReVision Optics Inc. has shut down saying, “it is with regret, that we have to close our doors.”
Irvine-based Evolus Inc. priced its initial public offering of five million shares of common stock at $12 per share, the low end of an earlier-announced $12 to $14 range.
University of California-Irvine accepted the resignation of Howard Federoff, vice chancellor of health affairs and chief executive of UCI Health System.
Allergan PLC reported strong fourth-quarter revenue of $4.3 billion, up 12% from a year earlier, and full-year revenue of nearly $16 billion, a 9.4% increase.
Allergan PLC named Matthew Walsh chief financial officer, effective “later this month.”
Edwards Lifesciences Corp. finished the year strong, reporting $889 million in fourth-quarter sales, up 16% from a year earlier.
HEALTHCARE: Adds scar therapy after new $15.5M round
Newport Beach-based Bonti is developing its own Botox. But unlike other competitors that aim to directly compete with Allergan PLC, it’s focusing on expanding therapeutic use of its lead neurotoxin candidate, EB-001.
First Three Regions: Orange County, New York, Phoenix
Paying for special perks isn’t new in healthcare.
Strategy Also Includes New Manufacturing Plant
The outlook for Aerie Pharmaceuticals Inc.’s (Nasdaq: AERI) two glaucoma drugs appears to be good—Rhopressa received Food and Drug Administration approval in December, and the company said its other late clinical-stage drug, Roclatan, is on track for approval in the second quarter.
Aerie Pharmaceuticals Inc. sold 1.3 million shares of common stock for $74 million.
Partnership Helps It Build ‘Premium Experience’
Toyota Motor North America signed on as North American Launch Partner of Blizzard Entertainment Inc.’s Overwatch League, a professional video gaming competition with esports franchises in Boston, London, Los Angeles, Miami-Orlando, New York, San Francisco, Seoul and Shanghai.
HEALTHCARE: Cancer center under construction; opens 2019
Take a hospital and a shopping mall owner, and what do you get? A retail experience that combines shopping, dining and healthcare.
To Study if WaveCrest Reduces Stroke Risk
Arrhythmia is an abnormal heart rhythm leading to heartbeats that are too slow, too fast or irregular.
Newport Beach-based Bonti closed $15.5 million in series C financing.
14-Person Team To Lead Regional Strategy
In Orange County, Providence St. Joseph Health has more of a local flavor—its local presence is best known as St. Joseph Hoag.
Company Launches Products in Singapore
Supplement maker ChromaDex Corp.’s rapid expansion in Asia speaks to the importance of choosing the right type of investors.
Medical Affairs Head To Help Launch Drug
The latter half of last year was busy for Aerie Pharmaceuticals Inc. The Irvine-based ophthalmic company ramped up operations, adding staff in research and development, commercialization and business development in preparation for Food and Drug Administration approval of glaucoma drug Rhopressa.
Irvine Location To Be West Coast HQ
Third time’s a charm for Automotive Care Laboratories LLC.
HEALTHCARE: Late-stage alt-Botox in need of fresh capital
Evolus Inc. has some good news and some bad news.
Office Space Provider Gung-Ho About Growth
WeWork Spectrum Center buzzed with energy. The space, brightly lit and colorful—modeled after Wes Anderson’s film “The Grand Budapest Hotel”—represents the epitome of flexible, noncommittal office concepts where laptops move freely from communal tables to individual workstations or private offices, and collaborations can happen over a conversation at the coffee station.
HEALTHCARE: Recros lands $9M; foresees 2019 launch
Aesthetic device maker Recros Medica Inc. in San Diego plans to strengthen clinical and commercial efforts with a recently closed $9 million financing, and it’s bringing it all to Orange County.
Providence St. Joseph Health Southern California Chief Executive Erik Wexler named most of an executive team to oversee 14 hospitals in Orange County, and Los Angeles and San Bernardino counties.
Evolus Inc. plans an IPO of up to $75 million, according to documents filed with the SEC Tuesday.
Generic Brands Could Enter Market This Year
Allergan PLC, which had a rough year following its controversial patent transfer deal with a Native American tribe, said it will cut over 1,000 jobs in preparation for losing patent exclusivity for blockbuster dry-eye drug Restasis.
HEALTHCARE: Japan, Korea, China aggressive with gov. help
It’s no news that there’s a growing senior population.
Tustin-based Peregrine Pharmaceutical Inc. changed its name to Avid Bioservices Inc., now that it’s a dedicated contract development and manufacturing organization.
Product Claims Protection for Brain
Newport Biosciences LLC Chief Executive Thomas Kinder isn’t new to the dietary supplement space; he previously launched brands that target migraines and micronutrient deficiencies in post-bariatric surgery patients.
Aerie Well On Track; Presbia Changes Strategy
Ophthalmic companies Aerie Pharmaceuticals Inc. (NASDAQ: AERI) and Presbia PLC (NASDAQ: LENS) are pursuing Food and Drug Administration approval of their drugs and device, respectively.
Laguna Native Couldn’t Have Mapped Better 2017
It’s hard to put a label on Charles Dunlop, founder and president of Ambry Genetics Corp. He is, in his own words, a “lab tech” who derives more joy from working in labs, yet he speaks with the boldness of a visionary when he says his main goal isn’t to cure a particular disease but all diseases.
Presbia PLC’s executive chairman and chief executive have resigned and the eye care device maker said it would cut expenses as it considers a $5 million investment from an affiliate of its majority shareholder.
Allergan PLC (NYSE: AGN) Chief Operating Officer Robert Stewart will resign to become president and chief executive officer of Amneal Pharmaceuticals LLC starting January 25, according to filings with the Securities and Exchange Commission.
Irvine-based Aerie Pharmaceuticals received Food and Drug Administration approval for its glaucoma eye drop Rhopressa two months ahead of an informal goal date in February.
MemorialCare in Fountain Valley formed a joint venture, to start Jan. 1, with L.A.-based Radnet Inc., an outpatient imaging center operator.
Spectrum Pharmaceuticals Inc. said its board dismissed its Chief Executive Rajesh Shrotriya without cause in accordance with Shrotriya’s agreement with the company, effective immediately.
Enrolled First Patient; Launched Beauty Line
Irvine-based regenerative medicine company AiVita Biomedical Inc. feels good that it has a cash-generating beauty product arm to cushion clinical development of its cancer drug.
Four-Product Juice Offering Targets Athletes
The cold-pressed juice market is saturated, which is why Mode Nutrition Chief Executive and co-founder Tammo Walter say it isn’t enough to offer only cold-pressed juices.