Site to Support 2020 Global Commercialization
Aerie Pharmaceuticals Inc. (NASDAQ: AERI) continues to ramp up in anticipation of upcoming Food and Drug Administration approval of glaucoma drug Rhopressa.
Startup Bets People Want Things ASAP
Irvine-based accelerator Cie Digital Labs and auto industry veteran James Chen are betting on the fact that today’s consumers want things ASAP—as soon as possible—including tire installation service.
Plans to Strengthen US HQ as R&D Center
He pointed out that while the company is a relatively new player in the U.S.—it received Food and Drug Administration approval of its knee and hip replacement products in the early 2000’s but didn’t start selling in the U.S. until 2014—“we have a long history in providing innovative orthopedic implants and instrumentation product.”
HEALTHCARE: Kingston’s John Tu among investors
Ever since scientists discovered stem cells are capable of self-renewal, making an unlimited supply of specialized tissue, the promise of using them to treat a variety of diseases has captured many people’s imagination, including serial entrepreneur Tom Yuen.
Submitted Final Trial Results to FDA Regulators
Hopes are high for Irvine-based Ivantis Inc., which anticipates receiving market approval from the Food and Drug Administration next year for its Hydrus Microstent.
HEALTHCARE: Board to add manufacturing experience
Less than six months since investors issued a public statement calling for Peregrine Pharmaceuticals Inc. to cease clinical development activities of its cancer drug and focus on growing its biologics manufacturing business, the company is well on its way to completing the transition.
Dish Republic Owners Bring NYC Thing to OC
New Yorkers Gregory Swift and Heather Ryan were struggling with Orange County culture. “We knew it was different than Manhattan.
Avanir Pharmaceuticals Inc. will lay off 73 employees by the end of January from its US work force as part of a restructuring. We’re told the majority will be outside of its Aliso Viejo headquarters.
Newport Beach Investor K5 Ventures Led Round
Industrial virtual reality company PlayWerk takes work and play up a notch.
HEALTHCARE: Plans to expand customer support team
Cianna Medical Inc. said its latest clearance from the Food and Drug Administration for its SAVI SCOUT reflector to be used for long-term implant makes its SCOUT system the first and only wire-free radar breast tumor localization system for long-term implant use.
Former CEO McDonough Says Irvine Ops Remain
Irvine-based CombiMatrix Corp. completed its earlier-announced merger with InVitae Corp. and is now a wholly-owned subsidiary of the San Francisco-based genetic information company.
RxSight Inc. received Food and Drug Administration approval for its Light Adjustable Lens technology.
CHOC’s Smith Strives to Give Back
Sheniece Smith is a champion of causes. In addition to her full-time job as associate general counsel for Children’s Hospital of Orange County, she’s actively engaged in pro bono work.
Glaukos’ Davis ‘Brings Business-Minded Approach’
Robert Davis joined Glaukos Corp. (NYSE: GKOS) in June 2015, a month before the device company went public.
HCP to Exit Brookdale; Sabra Plans Some Quiet Time
Senior housing-focused real estate investment trusts are betting on the demands of an aging society—for more senior housing.
Device Maker Had Ties To Alphaeon, Strathspey
Lensar Inc. has more ties to the Orange County business community than its Orlando, Fla.-based headquarters address lets on. The medical device maker, which filed for Chapter 11 bankruptcy in December, emerged with a stronger balance sheet and tapped Bill Link as chairman of its board of directors.
Winner Develops Smart Asthma Technology
The Paul Merage School of Business at the University of California-Irvine brought 19 Israeli startup executives to Orange County to participate in its two-week U.S.-Israel Innovation Bridge Executive Leadership Program on medical devices last month.
New Investor’s Top Client Includes Facebook Founder
ChromaDex Corp. in Irvine will raise $23 million via the private placement on Nov. 17 of 5.6 million common shares at $4.10 apiece, which follows a $25 million investment led by Hong Kong billionaire Li Ka-Shing that concluded in August.
ICU Medical Inc. in San Clemente reported revenue of about $343 million in its most recent quarter, compared with about $97 million in the same period prior year.
Irvine-based ChromaDex Corp. reported $6.1 million in sales for its most recent quarter, up 55% year-over-year, and a net loss of $3.2 million, about 30% more than the same period last year.
Community Medical Center Long Beach, one of Fountain Valley-based MemorialCare Health System’s three hospitals in the area, will soon close due to not meeting earthquake building standards.
Irvine-based ChromaDex Corp. will sell more than 5.6 million shares of its common stock at a purchase price of $4.10 per share, or about $23 million.
HEALTHCARE: Merged with Ottobock, plans IPO in 2 years
When your private equity investor wants to cash out, it’s often with a sale. Irvine-based Freedom Innovations LLC said it couldn’t be happier with a strategic partner like German prosthetics maker Ottobock.
Plans to Move Upmarket And Grow Reg’l Presence
OCTANe was created in 2002 to bring together resources, expertise and capital to help grow biomedical and information technology startups.
Launch Rate Parity Plan From Kaiser Next Year
The current healthcare bill debate primarily impacts the individual market, but uncertainty remains for insurers and carriers.
HEALTHCARE: Plans to partner to grow outpatient care
Irvine-based Hoag Orthopedic Institute, a unique for-profit joint venture comprised of two groups of orthopedic surgeons and a nonprofit hospital, is positioned for growth with a new chief executive at the helm.
Allergan PLC grew sales by 11% in the third quarter, led once again by its flagship drug BOTOX.
HCP Inc. fronted its quarterly earnings report by giving some specific ways it will cut from 27% to about 16% the amount its Brookdale Senior Living unit contributes to earnings.
The Irvine device maker reported total revenue of $193.7 million, including $12.4 million in royalties and other revenue, up more than 15% from the same period a year ago.
San Clemente-based CareTrust REIT Inc. acquired a three-facility 529-bed skilled nursing portfolio in Southern California from Providence Group for $69 million. The portfolio will yield approximately $6.1 million in initial annual cash rent.
Allergan PLC received Chinese regulatory approval for Ozurdex, an eye implant designed to treat adults with macular edema following retinal vein occlusion—an eye stroke.
Fights 2 Patent Battles; No Sub Blockbuster in Wings
A recent federal district court ruling—a federal judge invalidated exclusive protections for dry-eye drug Restasis—isn’t sitting well with Allergan PLC.
Reports Positive 1st-Year Data, Opens More Clinics
Part of the equation of providing good care while keeping cost affordable is to bring medical care away from hospitals and into communities.
Dendreon Pharmaceuticals LLC expanded its senior management with three new hires and two promotions.
Hoag Memorial Hospital Presbyterian in Newport Beach received a $15 million gift for its neurosciences institute from longtime local philanthropists the Pickup Family Foundation.
Edwards Lifesciences Corp. reported $481 million in global sales for its core transcatheter heart valve technology, up some 17% from the same period a year ago but down compared with its last two quarters—$539 million for the first quarter and $487 million for the second quarter.
Spinal Singularity in San Clemente raised $3.1 million in seed funding to support development of its connected catheter designed for adult men with chronic lower urinary tract dysfunction.
HEALTHCARE: Light therapy device used for pain, aesthetics
BioPhotas Inc. in Anaheim plans to tackle the Holy Grail of perpetual, nonhealing wounds with its light therapy device Celluma.
Japan Laws Approve Product in 6 Months
The cell and gene therapy industry continues to capture the interest of investors of all types, including international investors attending the Cell and Gene Meeting on the Mesa, a three-day conference at the Estancia La Jolla Hotel & Spa this month.
OC Presence Includes 18 Buildings, 1.4M SF
Applied Medical Resources Corp. in Rancho Santa Margarita expanded its European operations this month with the opening of a 215,000-square-foot manufacturing, research and development facility at its European headquarters in Amersfoort, Netherlands.
Allergan PLC raised eyebrows last month when it announced its patent deal with an American Indian tribe in New York, transferring the rights for its eye drug Restasis to the Saint Regis Mohawk Tribe.
Japanese printer maker Konica Minolta Inc. and Innovation Network Corporation of Japan (INCJ) closed their joint acquisition of genetic diagnostics company Ambry Genetics Corp., in Aliso Viejo.
HEALTHCARE: Hopes to have five products 2018
ECOM Medical Inc. in San Juan Capistrano plans to raise $5 million series B preferred to grow sales of its Endotracheal Cardiac Output Monitor, or ECOM, a system that provides real-time blood-flow information used in post-surgery critical care monitoring. It includes a monitor and a tube that’s inserted through the trachea.
To Speed Advancement In Back-of-Eye Uses
Irvine-based Aerie Pharmaceuticals Inc. bought the rights to use Envisia Therapeutics Inc.’s PRINT technology for $25 million in cash and Aerie common stock, with additional milestone payment potential.
Seniors Poised to Be Quarter of OC Population
Orange County’s population is 3.2 million, and 13.5% of residents are 65 and older, a segment projected to double by 2040, according to a report by Orange County Healthy Aging.
HEALTHCARE: Growing after buyback, launches dental plan
A turnaround story is nice, but it’s even better when you have the original players back in the game for round two. Irvine-based Smile Brands Group Inc., with Chief Executive Steve Bilt back at the helm, is shopping for dental practices.
HEALTHCARE: To move to San Clemente ReShape office
Orange County’s robust medical device scene will soon welcome a new addition from St. Paul, Minn.: EnteroMedics Inc.
HEALTHCARE: To go from 1 to 5 products
Aliso Viejo-based OrthAlign Inc. believes it’s positioned for growth with a new management team in place and fresh capital.
St. Paul, Minn.-based EnteroMedics Inc. acquired ReShape Medical Inc. in San Clemente for $61 million cash and stock.
Allergan PLC received Food and Drug Administration approval to use Botox to temporarily reduce moderate to severe forehead lines.