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Kythera Chops 117 Employees In Post Acquisition Layoff

socalTECH

In a blow to the biopharmaceuticals industry along the 101 corridor, Westlake Village-based aesthetic medicine developer Kythera Biopharmaceuticals disclosed on Tuesday that it is laying off 117 of its employees , just days after the consummation of a deal to be acquired by Allergan.

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QLogic Completes Ethernet Asset Buy From Broadcom, Chops Staff

socalTECH

Aliso Viejo-based network hardware developer QLogic said late Thursday that it has completed its acquisition of the 10/40/100Gb Ethernet controller assets from Broadcom , as well as cut staff as part of a restructuring effort related to the move. The acquisition deal had been announced in February. READ MORE>>.

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Amylin Pharmaceuticals To Shut San Diego Operations

socalTECH

However, it looks like the acquisition of San Diego''s Amylin Pharmaceuticals by Bristol-Myers Squibb is turning out not-so-great for employees in the location, after news that Bristol-Myers Squibb plans to close its San Diego operations , resulting in the loss of hundreds of jobs. Amylin Pharmaceuticals as a developer of diabetes drugs.

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Nestlé Sells Gut-Health Test Maker Prometheus Labs, Layoffs Expected

Xconomy

Precision IBD, which is also based in San Diego, is a drug and diagnostic developer that’s focused on inflammatory bowl disease, and has a direct tie to Prometheus: Precision’s chief medical officer, Steph Targan, is a co-founder of Prometheus.

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Qualstar Continues To Look At Strategic Options

socalTECH

Simi Valley-based Qualstar , the developer of data storage and high efficiency power supplies, says it continues to look at "strategic options" for the business, as it reported yet another quarter of declining revenues. According to Qualstar, it had a loss of $0.4 million on revenues of $2.2M for the quarter ended December 31, 2016.

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Ixia Cuts 80 Employees

socalTECH

Calabasas-based Ixia , a developer of network testing tools and software, is reporting this morning that it has implemented a "cost reduction initiative" and cut 80 positions from the firm, in what it said was primarily an elimination of duplicate resources from the company's October acquisition of Agilent's N2X product line.

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Rumors Swirl Around THQ

socalTECH

Rumors have been swirling around Agoura Hills-based THQ since this weekend, when a gaming industry analyst, Peter Skerritt, reported that the videogame maker was either looking for a buyer or shutting down its videogame development efforts, cancelling its 2014 lineup. as part of an "ongoing review" of its business. READ MORE>>.

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