socaltech.com TechNews - Thursday, June 29, 2017

Benjamin F. Kuo Thu, 29 Jun 2017 06:26:52 -0700

socaltech.com TechNews - Thursday, June 29, 2017
Edited by Benjamin F. Kuo
ISSN: 1524-6736
http://www.socaltech.com/News
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--Elon Musk's Tunneling Project Completes First Segment
--Cabin Launches LA To San Francisco "Moving Hotel" With $3M Funding
--Imprimis Pharmaceuticals Sells Off Facility In PA
--Dendreon Acquired By Sanpower Group For $819.9M
--Port of Los Angeles Operations Still Halted By Global Ransomware Attack
--SpaceX Falcon 9 Returns To Los Angeles
--Wonder Finds Funding For Mobile Games

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Elon Musk's Tunneling Project Completes First Segment
----
Elon Musk, the tech billionaire behind SpaceX and Tesla Motors, said on
Wednesday that his tunneling project has completed its "first segment of
tunnel" in LA. Musk as been discussing an idea to dig tunnels underneath
Los Angeles to cut down on traffic jams and commute times. Musk did not
provide details on how long or where that first segment of tunnel will lead
to; apparently, the digging operations before now had been confined to the
SpaceX parking lot.
http://www.socaltech.com/elon_musk_s_tunneling_project_completes_first_segment/s-0070974.html

Cabin Launches LA To San Francisco "Moving Hotel" With $3M Funding
----
Need to get from LA to San Francisco, and back, but tired of waiting in
airplane lines or driving yourself? A new, Bay Area startup, Cabin, says it
has created a new way to get back and forth from San Francisco, which it
bills a "moving hotel". The company says its moving hotels--luxury sleeper
buses with a lounge, Wi-Fi, and bathrooms--will allow users to check in at
11pm, and wake up in the morning at their destination. The service will
start at $115 to "fall asleep in San Francisco and wake up in Los Angeles."
Cabin said it has just received $3.3M in seed financing for the service,
led by Founders Fund's FF Angel with participation from SV Angel,
Floodgate, Box Group, Brainchild Holdings, Justin Rosenstein, StartX, FJ
Labs, and 1517 Fund.
http://www.socaltech.com/cabin_launches_la_to_san_francisco_moving_hotel_with_3m_funding/s-0070973.html

Imprimis Pharmaceuticals Sells Off Facility In PA
----
San Diego-based pharmaceuticals developer Imprimis Pharmaceuticals said
that it sold off its Folcroft, Pennsylvania facility, and related assets in
the sinus business, in a deal worth $450,000. According to Imprimis, the
deal will help it focus its resources on its core ophthalmology business.
Imprimis said the move was an "important step towards reducing
non-strategic overhead expenses."

Dendreon Acquired By Sanpower Group For $819.9M
----
Seal Beach, California-based Dendreon, a developer of treatments for
metastatic prostate cancer, has been acquired by Chinese conglomerate
Sanpower Group, in a deal worth $819.9M in cash, the company announced this
morning. Dendreon--owned by an affiliate of Valeant
Pharmaceuticals--develops PROVENGE, a treatment for prostate cancer, and
was led by CEO James Caggiano. Valeant acquired Dendreon out of bankruptcy
in 2015, for $296M.

Port of Los Angeles Operations Still Halted By Global Ransomware Attack
----
The Port of Los Angeles, which saw operations at APM Terminals shut down on
Tuesday due to a global cyberattack, is hoping to resume activity either
tonight or tomorrow, according to reports, but was still closed as of
Wednesday afternoon. APM Terminals is owned and operated by global shipper
Maersk, which was shut down on Tuesday due to the Petya ransomware
outbreak. Maersk shut down both its IT and communications infrastructure
are a result of the cyberattack. That attack shut down banks, airports, and
other industry in Ukraine, as well as throughout Europe, and even put
monitoring systems offline at the Chernobyl nuclear power plant. Photo
courtesy of Agustin Garcia.
http://www.socaltech.com/port_of_los_angeles_operations_still_halted_by_global_ransomware_attack/s-0070969.html

SpaceX Falcon 9 Returns To Los Angeles
----
The first stage of the SpaceX Falcon 9 rocket launched on Sunday from
Vandenberg Air Force base has just returned to Los Angeles, to the Port of
Los Angeles, after a successful landing on Sunday afternoon. The Falcon 9
was used to launch ten Iridium satellites into space. The Falcon 9
successfully landed on the drone ship "Just Read the Instructions", which
was just towed back to port on Wednesday. SpaceX has not said if it will
re-fly the first stage of this particular rocket, however, it has already
re-used several, returned first stage of its rockets, including one which
delivered a payload to the ISS earlier this month.
http://www.socaltech.com/spacex_falcon_9_returns_to_los_angeles/s-0070968.html

Wonder Finds Funding For Mobile Games
----
Los Angeles-based Wonder, a stealth mode, mobile gaming startup, said on
Wednesday that it has raised a Series A funding round. The funding came
from Grishin Robotics, TCL Communication Holdings Ltd., pop star Shakira,
Kevin Spacey, plus 8VC and Greycroft Partners. The company says it has now
raised $14M in total. Wonder's CEO is Andy Kleinman.
http://www.socaltech.com/wonder_finds_funding_for_mobile_games/s-0070967.html

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