San Diego Business Journal

SD BUSINESS JOURNAL DAILY ENEWS

UC Board of Regents Approves Creation of $250M VC Fund

Aiming to boost innovation and entrepreneurship in San Diego, University of California has announced plans for a venture capital fund to finance startups created on campuses, offering financial backing to the university-housed projects of which VC firms often steer clear.

Tease photo

Qualcomm to Have Big Role in ODG's Smart Glasses

Move over, Google Glass. A San Francisco-based company called ODG announced Sept. 18 that it plans to sell smart glasses powered by a high-end Snapdragon chip and Vuforia software, both from Qualcomm Inc.

Tease photo

Realty Income Conducting $250 Million Senior Note Offering

Escondido-based Realty Income Corp. is conducting a public offering of $250 million in senior unsecured notes, expected to close on Sept. 23.

Precision One Medical Acquired By Alabama Company

Precision One Medical Inc., a privately-held manufacturer of dental implants and components in Oceanside, was acquired by BioHorizons, an Alabama company that operates in the same industry.

Legend3D Announces Departure of a Top Exec

Legend3D Inc., the Carlsbad company that converts two dimensional films to three-dimensional formats for movie studios, said founder, chief technical officer and chief creative officer Barry Sandrew left the company “to focus on entrepreneurial endeavors.”

PowerGenix to Sell Equity Stake to Nevada Company

PowerGenix, a San Diego developer and maker of nickel-zinc rechargeable batteries, entered into an agreement to sell an undisclosed equity stake to Nevada-based Blue Earth Inc. for $10 million, the latter firm announced.

Median Household Income Falls to $61,426 in County

If you think you’re coming up short in the never-ending effort to make ends meet, you’re not alone, looking at a recent report from the U.S. Census Bureau.

Tease photo

Poway Medical Office Condos Sell for $6 Million

Aranguren Family Trust of Palos Verdes Estates has purchased five medical office condominium units in Poway for $6 million, according to CoStar Group and public data.

Minimum Wage Opponents Gather 56,000 Petition Signatures

Opponents of a planned hike in San Diego’s minimum wage said they have collected more than 56,000 petition signatures, well above the 34,000 required to place the issue before voters.

Tease photo

Lionstone Investments Acquires San Diego Tech Center

Houston-based Lionstone Investments, on behalf of an institutional client, has acquired the nine-building San Diego Tech Center office park in Sorrento Mesa for an undisclosed price.

Tease photo

Isis Pharmaceuticals Earns $4 Million Milestone

Isis Pharmaceuticals Inc. announced that it has earned a $4 million milestone payment from San Fransisco-based Achaogen Inc. associated with the initiation of a Phase 3 study of plazomicin in patients with serious multi-drug resistant bacterial infections.

Entropic Communications Hires Bank to Help Evaluate 'Strategic Options'

San Diego chipmaker Entropic Communications Inc. said on Sept. 16 that it hired an investment bank to help it evaluate “strategic options to enhance shareholder value.”

Tease photo

El Cajon Apartment Building Sells for $8.2 Million

Heritage Group Partners of Newport Beach has acquired The Heritage Apartments, a 56-unit apartment building in El Cajon, for $8.2 million, according to CoStar Group and public data.

Huntington Capital Sells One of Its Portfolio Companies

Huntington Capital, a San Diego private equity firm, said one of its portfolio companies, Residential Design Services, Inc., an outsourced interior designer, was acquired by another private equity firm, resulting in “a high return on investment.”

Imagenetix Inc. Emerges From Bankruptcy

Imagenetix Inc., a San Diego-based company developing over-the-counter topical creams, skincare products and nutritional supplements, announced that its post-bankruptcy Plan of Reorganization was confirmed and all provisions of the plan were approved by Judge Margaret Mann of the United States Bankruptcy Court for the Southern District of California with an effective date of September 16, 2014, enabling the company to emerge from bankruptcy.

Tease photo

Kratos Subsidiary Receives $4.8 Million Order From Navy

Kratos Defense & Security Solutions Inc. said on Sept. 16 that its Micro Systems subsidiary received a $4.8 million delivery order from the U.S. Navy for unmanned aerial drone system command-and-control systems and services.

Research Grant Helps Texas Take One More Local Company

San Diego-based Curtana Pharmaceuticals Inc. has announced that it will be relocating to Austin, Texas, following a $7.6 million grant from the Cancer Prevention and Research Institute of Texas (CPRIT) to fund the company’s lead cancer therapy.

Tease photo

California Bank & Trust Expands Nixon's Role to Include Northern California

Tory Nixon, who heads up the San Diego division for California Bank & Trust, was named to oversee the bank’s Northern California division as well.

Denovo Acquires Oncology Drug From Eli Lilly

San Diego-based Denovo Biopharma LLC announced that it has acquired enzastaurin, a late-stage oncology drug, from Eli Lilly and Co.

Tease photo

San Diego Firm Buys Lake Elsinore Retail Center for $33.5 Million

HELF Investments LP of San Diego has purchased Canyon Hills Marketplace, a retail center in Lake Elsinore, for $33.5 million, according to brokerage company CBRE Group Inc., which represented the buyer and seller.