Some more “bad news” to report in this aggregate of local business stories relevant to Emeryville. This follows our March report that also provided a gloomy outlook for some local businesses.
Cana Technologies, who developed a “molecular beverage maker” abruptly shuttered, COVID test maker Lucira Health has been was acquired by Pfizer after declaring bankruptcy, and typically steady Pixar Animation Studios has reportedly laid off 75 of its employees.
East Bay beverage company shuts down
By Ted Andersen
Emeryville-based Cana Technology, a company building an appliance claiming to be able to customize any beverage, reportedly shut down last week as it could not secure funding and laid off all of its employees.
Cana had raised $30 million in January 2022 and promised to have its product ready to ship sometime in 2023 but reportedly could not raise the funding necessary to build a production line for manufacturing and shipping devices.
Read more on SF Business Times (subject to paywall)
Pfizer to buy Covid-flu test developer Lucira Health out of bankruptcy court
By Ron Leuty
Pfizer Inc., the world’s largest drug maker, will buy the assets of at-home Covid-flu test developer Lucira Health Inc. following an auction Thursday in U.S. Bankruptcy Court in Delaware.
After meeting with an official bankruptcy court committee of unsecured creditors, Emeryville-based Lucira (NASDAQ: LHDXQ) declared Pfizer (NYSE: PFE), the manufacturer of a critical Covid-19 vaccine and drug, as the successful bidder.
Read more on SF Business Times (subject to paywall)
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Walt Disney’s Pixar targets ‘Lightyear’ execs among 75 job cuts
By Dawn Chmielewski
Walt Disney’s Pixar Animation Studios has eliminated 75 positions including those of two executives behind box office disappointment “Lightyear,” sources said on Saturday, the first significant job cuts at the studio in a decade.
The cuts included “Lightyear” director Angus MacLane, a 26-year animator who was part of the senior creative team on such acclaimed films as “Toy Story 4” and “Coco.” Galyn Susman, producer of “Lightyear,” also departed. Susman had been at Pixar since the release of the original “Toy Story” movie in 1995.
