San Diego-based Zogenix, a developer of needle-free, delivery systems for the treatment of acute migraines and cluster headaches, has filed for a $90M IPO. The IPO is being underwritten by Wells Fargo Securities, Leerink Swann, Oppenheimer & Co., and Stifel Nicolaus Weisel. The firm is venture backed by Domain Associates, Clarus Lifesciences, Scale Venture Partners, Thomas McNerney & Partners, Chicago Growth Partners, Abingworth Bioventures, and others.
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By Bruce Bigelow
It took centuries for the basic concept of a syringe—a plunger that fits tightly in a tube—to evolve into the medical hypodermic syringe, which uses a hollow needle to inject medication beneath the skin.
The founders of San Diego’s Zogenix say they have developed a faster and simpler method for subcutaneous injections—and on a much faster track.
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By Bruce Bigelow
San Diego’s life sciences companies continued to raise big money, which is a good thing, since a survey shows that venture funding for biotech and medical device companies accounted for more than 80 of all second-quarter VC deals in San Diego. We’ve rounded up all that and more for you here:
—An expert panel that advises the FDA voted 10-6 against approving an obesity drug developed by Mountain View, CA-based Vivus (NASDAQ: VVUS), saying the negative effects outweighed the weight-loss benefits. After the ruling, shares of San Diego’s Arena Pharmaceuticals (NASDAQ: ARNA) climbed toward its 52-week high of $5.93 a share, but San Diego-based Orexigen Therapeutics (NASDAQ: OREX) continued to trade around $4 a share. Both San Diego biotechs are developing obesity drugs of their own.
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