Market Update – February 2009
NovaBay Pharmaceuticals Inc based in Emeryville has been given the green light to test its pink eye drug on human candidates. The drug, NVC-422, is intended to be used as a treatment for eye bacteria and infections. The drug is already being tested for bladder and nose infections on humans and will soon be tested against skin infections. NovaBay will receive $1 million in grants because of the approved testing.
Jafco, OrbiMed Advisors and Fisk Ventures have combined and funded Alameda based Singulex $19 million. Singulex which is a developer of single molecule detection technology said the new funding will provide enough resources to develop their immunoassay technology that is used in diagnostics field.
On January 22, 2009, development teams AMB Property Corp./California Capital Group and Federal Development LLC will submit their applications to the Oakland Redevelopment Agency for their proposals on the redevelopment of Oakland’s Army Base near the Bay Bridge. Previous development teams Catellus/ProLogis and First Industrial Realty have removed themselves as potential candidates due to economic hardships. The Oakland Army Base may become the “gateway” for Oakland in the future with retail centers mixed with office use and possibly a hotel.
One of Oakland’s cherished landmarks Fox Theatre has completed its $80 million renovation and seismic retrofit. The theatre that has a capacity of 3000 in addition to the Oakland School for the Arts will have its grand opening in February of 2009. The leading engineering and architectural firm KPA Group served as the main structural engineer for this project. The City of Oakland owned theatre will eventually offer live entertainment, clubs, restaurants and special functions for the public.
Emeryville based Fliqz, providing online video technology, in its third round of funding has raised $6 million. Fliqz has announced that the new funding will be used for development, international expansion and also to increase sales organization. Fliqz manages a network of more than 18,000 sites to date.
