All Aboard: Steamboat Ventures, the venture capital arm of Burbank-based entertainment giant Walt Disney Co., has joined in a round of funding for San Jose software developer Baynote Inc. Steamboat was part of a funding round that raised $13 million for the maker of adaptive search technology.
Tech Deal: Arrowhead Research Corp., a Pasadena nanotechnology holding company, has sold subsidiary Unidym Inc. to Seoul, South Korea’s Wisepower Co. Ltd. Wisepower is paying stock and convertible bonds valued at $5 million for Unidym, a maker of carbon nanotubes made with extremely small fibers that create lighter and stronger materials. Arrowhead and other Unidym minority shareholders will earn additional payments of up to $140 million based on cumulative sales and licensing milestones, plus 40 percent of licensing revenue from certain patents.
Channeling Comcast: Perfect Market Inc., a Pasadena startup that creates products to help news organizations get more revenue from their content, raised $9 million in a funding round led by Philadelphia-based Comcast Interactive Capital, an affiliate of the cable giant. Previous investors Idealab, Tribune Co., and venture firms Rustic Canyon Partners and Trinity Ventures also participated in the round.
WEST LOS ANGELES
Healthy Infusion: CytRx Corp., a West L.A.-based biopharmaceutical company specializing in oncology, has raised $7 million from the sale of its remaining stake in publicly traded RXi Pharmaceuticals Corp., a Worcester, Mass., biotech company. CytRx plans to use the funds to improve its operational pipeline.
Added Up: Investars, a provider of equity research and tracking services with offices in New York and Paris, has ranked B. Riley & Co. No. 1 on Investars’ Research League Tables based on “buy” recommendations made last year. West L.A.’s B. Riley recommendations returned 45 percent, placing it at the top of all categories tracked by Investars.
SAN FERNANDO VALLEY
In Storage: DataDirect Networks, a Chatsworth-based data storage company, was ranked the world’s largest private storage system company by worldwide 2009 revenues by IDC, a Framingham, Mass.-based IT market research firm. IDC released its report last month.
Patent Approval: Provision Interactive Technologies Inc., a Chatsworth maker of 3-D displays for vending machines and self-service kiosks, has been granted one of several pending U.S. patents for its technology. Provision Interactive was granted a patent, which it filed for in 2005, on 3-D holographic product HoloVision.
In the Yard: The Yard House, an Irvine-based restaurant chain, will open a location in the Antelope Valley Mall in Palmdale. The restaurant, in the retail center at 1233 W. Rancho Vista Blvd., features a menu of American fusion cuisine and an extensive draft beer selection.
An article in the Jan. 10 issue headlined “Ex-Director Unhappy With Hanmi Direction” mistakenly said that “Woori has invested $120 million in Hanmi.” It should have said Hanmi received $120 million from investors. Hanmi is still waiting for regulatory approval to receive Woori’s investment.
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An article in the Jan. 17 issue headlined “Bad-Boy Jeans Maker Takes a Seat” stated that Think PR’s retainer for the Rock & Republic account was $2,500 per month. The retainer started at $1,500 in 2002 and rose to $4,500 in 2005.
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