Stories for April 2019

Tuesday, April 30

Tandem Diabetes Care Sales Jump 142% in Q1

Tandem Diabetes Care reported that sales of its touchscreen diabetes pumps hit $66 million in quarter one, a 142 percent year-over-year increase.

San Diego FinTech Startup Trovata Raises $5.5M

Trovata, a software startup automating cash management for corporations, raised $5.5 million from Fintop Capital and JP Morgan Chase.

REITs, Tenants Migrate to More Hospitable South County Market

South County is fast becoming the place to go for commercial real estate investors.

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Past VC Funding Likely Indicator of Strong IPO Market in 2019

FINANCE: Shutdown Of Government Slowed Activity Early in Year

Last year’s record amount of venture capital in San Diego life sciences paved the way for recent public offerings, with more likely ahead.

Apartment Complexes Sold For $3.5M

Two complexes sold in one transaction.

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La Mesa Apartments Sold For $3.9M

Complex has 16 townhomes.

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SD 500: Diane Hansen

SDBJ 500 recap: Diane Hansen

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SD 500: Phil Pace

SDBJ 500 recap Phil Pace

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Vividion Therapeutics Nets $82M Series B Round

Vividion Therapeutics – which formed to transform drug development by targeting “undruggable” proteins – attracted an $82 million series B round.

Monday, April 29

Looking For Results

Accountable Care Organizations’ Successes and Failures Reshape the Local Medical Care Model

Seven years ago, accountable care organizations were billed as the next big thing in health care. How has the model — which offers financial incentives for quality care and lower costs — panned out in San Diego?

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SD 500: Felena Hanson

Felena Hanson is the founder of Hera Hub, the first international shared workspace for female entrepreneurs, and is active in the San Diego startup scene.

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SD 500: Vincent J. Bartolotta Jr.

Vincent J. Bartolotta Jr. has been involved in some of the highest profile legal cases in San Diego over the past 20 years.

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LunaDNA Brings in Second Partner with Genomelink

LunaDNA struck a partnership with Genomelink that would allow its users to share their DNA data.

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Delphi Private Advisors Merges with LourdMurray

As part of a strategic investment by Chicago-based wealth management firm HighTower, San Diego-based Delphi Private Advisors announced plans to carry out a merger with LourdMurray in Beverly Hills. The combined advisory group is set to oversee $4.8 billion in assets with offices in San Diego, Beverly Hills and Baton Rouge, Louisiana.

Kratos Secures C5ISR Production Contract

Mira Mesa-based Kratos Defense & Security Solutions Inc. secured a $12.6 million contract from an unnamed national security-related customer, announcing the win on April 29. The defense firm said the systems production contract will support Command, Control, Communications, Computers, Combat Systems, Intelligence, Surveillance and Reconnaissance.

La Mesa Apartments Sold For Nearly $2.5M

Complex has 12 apartments.

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Survival Systems International Secures $6.5M Credit Facility

Costa Mesa-based Pacific Mercantile Bank originated the loan for the manufacturer.

Sunday, April 28

Getting Creative: Horton Plaza redevelopment

PROPERTY: Office Campus Could Cater to Innovation Economy

In its time, Horton Plaza started what became the transformation of downtown San Diego from a place no one went to a place everyone wanted to be.

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Selling Some Shut-Eye Is A Wide Open Market

Weary airport passengers uncomfortably draped over metal seats. Sleepy students dozing off in the library over their notes for final exams. These were just a few of the people Nikolas Woods had in mind when he started his new company, Hohm.

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Report: Apple Sought to Acquire Intel’s Smartphone Modem Business Before Settling with Qualcomm

Apple had been in talks with Intel to acquire its 5G smartphone modem business since last summer, according to a report by the Wall Street Journal.

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CalPrivate Bank Names CFO, Completes Private Debt Placement

The executive board of La Jolla-based Private Bancorp of America, the holding company of CalPrivate Bank, named Richard Pimentel the next chief financial officer of CalPrivate, effective May 1.

Golden Hill Apartments Sold For $2.2M

Complex has eight apartments.

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Bankers Hill Mixed-Use Property Sold For $2.2M

Property includes four apartments.

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SD 500: Donna Vargo

SDBJ 500 recap: Donna Vargo

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SD 500: Denise Jackson

SDBJ 500 recap: Denise Jackson

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SD 500: Amit Munshi

SDBJ 500 recap: Amit Munshi

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Business Events Calendar for Week of April 29, 2019

Business events scheduled in the county.

Home of the Week: Coastal Contemporary Perfection

One-of-a-Kind New Constructions completed in 2018 with no expense spared. Fleetwood multi-slide pocket doors seamlessly blend indoor & outdoor living. Spectacular ocean views follow you throughout this enchanting home. Beautifully Designed with a neutral palette, clean lines & impeccable detail.

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Kids Take Active Role In Build a Miracle

Daniella and Gabriel, along with fellow volunteers for San Diego-based Build a Miracle, were in Tijuana recently to lay the foundation for a new home for a family in need. Build a Miracle is a nonprofit organization that raises funds to build homes for needy families in Tijuana.

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Executive Q & A - Patty Maysent

Hospitals are changing with the times, particularly with the introduction of new technologies, as well as a changing funding paradigm. Special Sections Editor Brad Graves, with the help of Health Care Reporter Jared Whitlock, asked several senior hospital executives about the advent of new technologies and approaches — in short, what we might expect from the hospital of the future. Here are their edited responses.

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Executive Q & A - Andy Crowder

Hospitals are changing with the times, particularly with the introduction of new technologies, as well as a changing funding paradigm. Special Sections Editor Brad Graves, with the help of Health Care Reporter Jared Whitlock, asked several senior hospital executives about the advent of new technologies and approaches — in short, what we might expect from the hospital of the future. Here are their edited responses.

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Executive Q & A - Chris Howard

Hospitals are changing with the times, particularly with the introduction of new technologies, as well as a changing funding paradigm. Special Sections Editor Brad Graves, with the help of Health Care Reporter Jared Whitlock, asked several senior hospital executives about the advent of new technologies and approaches — in short, what we might expect from the hospital of the future. Here are their edited responses.

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Executive Q & A - Jane Finley

Hospitals are changing with the times, particularly with the introduction of new technologies, as well as a changing funding paradigm. Special Sections Editor Brad Graves, with the help of Health Care Reporter Jared Whitlock, asked several senior hospital executives about the advent of new technologies and approaches — in short, what we might expect from the hospital of the future. Here are their edited responses.

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Sandwich Makers Deliver Some ‘Fast-Food’ to Homeless

More than 550 students, faculty and parents from the San Diego Jewish Academy broke the Guinness world record for most sandwiches made in under three minutes, all of which were donated to San Diego’s Alpha Project, an organization dedicated to helping the homeless change their lives and achieve self-sufficiency.

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Constellation Brands to Close 2 Ballast Point Brewing Facilities

Constellation Brands Inc., headquartered in Victor, New York, has confirmed the closing of two Ballast Point facilities, including one located in San Diego.

Ad Astra’s Third Cohort Has Some Strong Potential

Ad Astra Ventures, an accelerator focused on developing women-led startups, announced its third cohort on April 17. The Solana Beach-based program welcomed three new companies: Outside Financial, Navega Therapeutics and Domaine Santé.

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Selling Some Shut-Eye Is A Wide Open Market

Weary airport passengers uncomfortably draped over metal seats. Sleepy students dozing off in the library over their notes for final exams. These were just a few of the people Nikolas Woods had in mind when he started his new company, Hohm.

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Illumina Looks to Clear UK Regulatory Hurdle

A U.K. competition watchdog recently began investigating Illumina’s planned $1.2 billion acquisition of Pacific Biosciences.

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New Chief Medical Officer Named at Epic

Another new executive has joined Epic Sciences, a San Diego company that makes tests to guide cancer doctors deciding on a treatment path.

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Poseida Therapeutics Raises $142M in Series C Round

Poseida Therapeutics raised $142 million in a Series C round to advance therapies that alter immune cells to kill cancer.

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SDBJ Insider: In Court, Stone Doesn’t Make Light of IP Case

U.S. District Judge Roger Benitez late last month denied Stone Brewing Co.’s motion for a preliminary injunction against MillerCoors in the San Diego craft brewer’s trademark infringement lawsuit.

Company Fills the Need to Integrate Software

Tech: Perspectium Raises $8M in Series B; Marquee Clients on Board

ServiceNow was the perfect San Diego success story. The cloud computing giant, now with a market cap of $43.81 billion, was one of a handful of technology firms in the area to go public.

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Sempra Sets Up to Be Major LNG Exporter

ENERGY: LNG President Sees Big Opportunities in Asia, Europe

This year has already been a year of milestones for Sempra LNG.

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Parks, Zoo Know It Is Their Time to Shine

TOURISM: Summer Heats Up Competition for Tourist Dollars

As summer approaches, attractions in San Diego County, like the San Diego Zoo, Balboa Park and SeaWorld San Diego, among others, ramp up their offerings in order to capitalize on the seasonal rush of visitors. For good reason.

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Wax & Wine Raises Funds For River Valley Conservancy

The San Dieguito River Valley Conservancy’s “Wax & Wine 2019” raised $5,000 to support the conservancy’s mission as a nonprofit, citizen-based organization helping to implement plans for the San Dieguito River Park and its Coast to Crest Trail stretching 70 miles from Volcan Mountain near Julian to the ocean between Del Mar and Solana Beach.

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Construction Found 2018 Was a Building Year

Maybe the number of cranes popping up in San Diego’s skyline were a tip-off, but a project management and cost consulting firm reported that construction surged at the end of 2018, finishing at nearly 15 percent growth compared with 2017.

Rents Do Sometimes Come Down

Apartment complexes continued to be a solid investment in San Diego County, with rents on the rise in most San Diego County cities in March, according to figures from the apartment listing service Zumper.

Volunteers of America Has Very Long History of Helping

Volunteers of America Southwest, a nonprofit, faith-based organization with a mission to change the lives of vulnerable individuals by providing services and tools to improve their quality of life, celebrated 123 years of service during the month of April.

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Friday, April 26

The Patio Group Hires New Executive Chef

Jarrod Moiles, previously executive chef at the Forbes Five-Star-rated Rancho Valencia Resort & Spa in Rancho Santa Fe, will lead the culinary team for Patio, according to a press release.

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Thursday, April 25

Brixton Capital Sells Shopping Center For $50M

Center was 95 percent leased.

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Carlsbad Industrial Building To Become Tesla Dealership

Badiee Development sold the building for $14.5 million.

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Illumina Reports 12 Percent Increase in Earnings

Illumina reported net income rose 12 percent year over year in first quarter earnings, reaching $233 million.

Connect and San Diego Venture Group Merge

Connect and San Diego Venture Group merged on April 25, with Mike Krenn serving as CEO and Silvia Mah serving as president and COO of the combined organization.

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SD 500: Barbara Wight

Barbara Wight oversees Taylor Guitar’s foreign operations, financial information systems and legal interests.

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North Park Apartment Complex Sold For Nearly $2.9M

Complex has nine apartments.

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SD 500: Jaye Connolly-Labelle

SDBJ 500 recap: Jaye Connolly-LaBelle

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Casrlsbad Apartments Sold For $2.5M

Complex has four apartments.

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SDG&E Files Rate of Return Hike Request

The California Public Utilities Commission received a request from San Diego Gas & Electric Co. for a hike in the company’s overall rate of return on April 22.

Wednesday, April 24

Firebird Flies in for a Visit Demonstrating Its Versatility and Availability

What’s spindly and gray, with twin tails and a backward-facing propeller? Nope, it’s not a riddle. It probably was what a lot of people at Montgomery Field were asking each other on April 17 as they viewed the strange aircraft on the other side of the chain-link fence.

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Antibiotic Developer Forge Therapeutics Inks Licensing Deal

Forge Therapeutics will license its platform to Basilea Pharmaceutica to create new antibiotics, it was announced April 24.

Bike Tour Delivers Customers to Downtown Businesses

For over 30 years, the San Diego County Bicycle Coalition has focused on supporting cyclists and improving biking infrastructure through education and advocacy. But, these days, the SDCBC has a new goal in the works.

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Viasat Partners to Provide In-Flight Connectivity Services in China

'Each company will maintain its own intellectual property and will operate its equipment using a multilayered approach to network services.'

SD 500: Rick Bregman

San Diego native Rick Bregman has been Bank of America San Diego market president since 2008.

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SD 500: Kimberly Herrell

Kimberly Herrell in 2018 became president of Schubach Aviation, which is in the jet charter market.

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Funding Puts EvoFem in Position for Product Launch

Through a private stock placement Evofem Biosciences raised $30 million and said a second tranche is expected to provide up to $50 million more as the company gets closer to asking for regulatory approval of its birth control gel.

Tuesday, April 23

BlueNalu Moves to Bigger San Diego Facility

The new Sorrento Valley headquarter is 6,000 square feet and currently employs 12 full-time people with the plan of adding more.

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Avidity Biosciences Bags $35M Upfront from Eli Lilly

La Jolla’s Avidity Biosciences will receive $35 million upfront and potentially much more through a deal with Eli Lilly.

Aquacycl Helps Food and Beverage Cos. Deal With Sludge

Most San Diegans can appreciate a good glass of beer. But few think about what’s left after the brewing process.

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Carlsbad Apartment Complex Sold For $9.3M

Complex has 35 apartments.

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Startup Founded by Former MySpace Exec Raises $3M

GoMeta, an app development startup, closed a $3 million seed round on Tuesday.

SDBJ Insider: Tech Heavyweights Throw In Together

As the eyes of the tech world turned to U.S. District Judge Gonzalo Curiel’s courtroom in San Diego last week with Qualcomm Inc. and Apple Inc. facing off in an antitrust battle with billions of dollars and Qualcomm’s licensing business at stake, the not-so-unexpected announcement finally came.

SD 500: Judith Jones-Cone

SDBJ 500 recap: Judith Jones-Cone

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SD 500: Mark Read

SDBJ 500 recap: Mark Read

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ServiceNow Founding Developer’s New Startup Raises $8M

Perspectium, a Rancho Bernardo startup created by a co-founder of ServiceNow, raised $8 million in a Series B funding round.

Monday, April 22

Scripps Launches Clinic for Inflammatory Breast Cancer

A clinic to diagnose, treat and monitor a rare form of breast cancer has launched at Scripps MD Anderson Cancer Center.

Otay Mesa Land Sold For $30M

Property had been used as a truck yard.

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San Diego Is Test Market for Company’s Micro Apartments

PROPERTY: Luxury Offering Short on Space, But Big on Amenities and Style

Tiny apartments — some so small that they’d almost qualify as walk-in closets — are making a go of it in downtown San Diego.

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Sempra Wind Asset Sale Completes $2.5 billion Divestiture

Sempra Energy announced the completion of its divestiture of its U.S. renewable business and non-utility natural gas storage assets April 22. The company said it completed the sale of its stake in operating and development-stage wind assets to American Electric Power Co.

Constellation Brands to Close Trade Street Ballast Point Brewing Facility

According to a spokesperson for Constellation Brands, the Trade Street R&D brewing facility will “transition over the coming months.”

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Apartment Building Sold For $2.2M

Building has eight apartments.

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San Diego-Based TPT Global Agrees to Buy Assets of Michigan Company

The purchase agreement is subject to a $500,000 deposit, a $500,000 payment due at closing, and two additional payments for $500,000 with a 10 percent annual interest within 30 and 60 days of closing.

Normal Heights Apartment Buildings Sold For $5.3M

Buildings have a total of 21 apartments.

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City Heights Apartment Building Bought For $2.8M

Building has 16 apartments.

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Poseida Therapeutics Raises $142M for Cancer Cell Therapy

Poseida is working to advance CAR-T therapy, in which a patient’s T cells are altered to kill cancer cells. The San Diego company developed what are called stem memory T cells. They aim to be safer — and last much longer — than early CAR-T products.

Sunday, April 21

TECH: Settlement Puts Qualcomm Back In 5G Driver’s Seat

The announcement that shook the tech world last week immediately brightened Qualcomm Inc.’s future.

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ECONOMY: San Diego Is a Clear Winner as Qualcomm's Stock Surges

The end of a royalty dispute that bogged down Qualcomm Inc., one of San Diego’s largest employers, looks to be a win for the region.

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Cubic Secures U.S. Navy Aerial Refueling Supplier Contract

The Boeing Co. has tapped Cubic Corp. to aid in the development of the U.S. Navy’s first unmanned aerial refueling aircraft.

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Coronado Apartments Sold For $4.8M

Complex has 12 apartments.

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Four Apartment Buildings Sold For $7.4M

The complexes have a total of 44 apartments.

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SD 500: Craig Dupper

Craig Dupper in 2018 founded a private equity firm based in Carlsbad after 16 years as the local presence for Newport Beach-based Solis Capital Partners LLC.

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San Diego Firm Funds West Hollywood Building Rehab

San Diego-based Wilshire Quinn Capital has provided a $2.2 million rehabilitation loan for a retail property in West Hollywood.

SD 500: Lee Chesnut

Lee Chesnut is principal and founder of Chesnut Properties, a Solana Beach-based commercial real estate investment and development company.

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Pacific Beach Apartments Sold For $3.3M

Building has 10 apartments.

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Business Events Calendar for Week of April 22, 2019

Business events planned in the county.

Father Joe’s to Open Barber Shop for Homeless

Grand opening of Father Joe's Villages barber shop

Grant Helps Children Cope in the Grieving Process

The Elizabeth Hospice, a nonprofit health care leader serving San Diego County and southwest Riverside County, is the recipient of a $10,000 grant from New York Life.

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Foundation Gives Children With Cancer A Chance to Just Be Kids

The Seany Foundation’s Everything Is Possible Celebration raised $275,000 for families faced with Cancer.

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Credit Union Helps Heart Association On Lifesaving Mission for Women

Mission Federal Credit Union supported the American Heart Association San Diego Division throughout January and February to combat heart disease, the number one health threat to women.

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JFS Gets More Resources For Its Food, Outreach Programs

The S. Mark Taper Foundation awarded the Jewish Family Service of San Diego a $100,000 grant to support its Hand Up Food Pantry and FoodMobile program, both of which provide nutritious food, hygiene products and other essentials to San Diegans in need.

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‘Taste of Our Community’ Raises Funds for Developmentally Disabled

Options For All, an organization that gives individuals with disabilities more options for living their lives to the fullest, held its 10th Annual Taste of Our Community recently at BRICK in Liberty Station.

Soak Up the History, the Sun and the Luxury of Coronado

The charm of Coronado is palpable. Its ambience is emblematic of “home town America” — a town with Fourth of July parades, Friday night football and the corner cafe; something that’s hard to find with today’s strip malls and urban sprawl.

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Home of The Week: LIVE with Romance

Strategically designed to maximize magnificent hillside and city-light views from all directions, this romantic, European-inspired villa recalls the elegance and grace of exquisite, coastal estates in Spain, Italy or France.

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Murphy Begins Construction on Final Building at The Campus

Murphy Development Co. has started construction on the final industrial building at The Campus at San Diego Business Park, formerly known as the San Diego Business Park.

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USD Team Wins Real Estate Design Competition

Graduate students from the University of San Diego’s School of Business won a recent international real estate design competition — besting teams from such powerhouse schools as Harvard University, Columbia University and Cornell University.

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Market Momentum Starts 2019 Strong and Keeps Going

San Diego’s commercial real estate markets in all sectors started 2019 with a burst of activity that brokers and analysts say is likely to continue.

Company Brings Plenty of Experience to Its First Local Casino Work

ARCHITECT: Respect and Relationships Are Key Part Of Working With Tribes

For over 20 years, Delawie, a San Diego-based architectural firm, had its hands full as the sole architect for Qualcomm Inc. But, following a lawsuit that kept publicly-traded companies from sole-sourcing and instead required them to select via a bidding process in the mid-1990s, Delawie had some time on its hands.

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Charlotte Russe Plans a Comeback, YM Inc. Confirms

A month after announcing it would be going out of business and closing all of its stores in 44 states and Puerto Rico, San Diego-based Charlotte Russe Holdings Corp. tweeted on April 11 that it plans on re-opening 100 retail locations.

Citadel Awarded Drone-Defense Contract

National City-based Citadel Defense signed a $1 million purchase contract with the Defense Logistics Agency on April 16.

Cubic Awarded New Zealand Defense Contract

San Diego-based Cubic Mission Solutions, part of Cubic Corp., has signed a 12-year contract with the government of New Zealand to provide command and control capabilities to the Ministry of Defense’s Tactical Network project.

Viasat Partners to Provide High-Speed Internet in Brazil

Carlsbad-based Viasat Inc. announced April 16 that it signed a wholesale distribution agreement with Ruralweb in Brazil.

PhaseBio Drug Receives ‘Breakthrough’ Designation

PhaseBio’s drug that aims to stop bleeding events received a breakthrough drug designation from the U.S. Food and Drug Administration. That follows an initial public offering and promising test results.

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Rady Children’s Institute Names New Board Members

A division of Rady Children’s Hospital that deploys quick-turnaround genomic sequencing in puzzling cases has added six board members.

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Airport Innovation Lab Selects Diverse Lineup for Cohort

Five new startups will join the San Diego International Airport’s accelerator program this summer. The Airport Innovation Lab picked companies for its second cohort since it launched the program in 2018.

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Cullgen Raises $16M in Series A For Cancer Fighting Treatments

Cullgen, a San Diego-based biotechnology company, raised $16 million in a Series A funding round led by Sequoia Capital China and HighLight Capital.

Industries Chart New Paths Via Innovation

TECH: Conference Follows Cos. Focus In Applying Technology

At the Rady School of Management’s annual technology conference at UC San Diego, about 200 students, technology workers and leaders joined to discuss technology trends.

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Special Report: Seeking Approval

Downtown Development May Take a New Turn As Civic San Diego Loses Its Role in the Process

The demise of Civic San Diego as the arbiter of downtown development may slow approval of new projects or may lead to better oversight.

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Swinerton’s Winning Hand

BUILDING: Co. Cultivates Trust, Dependability and Skill To Win Casino Contracts

In the last few years, an estimated $1 billion has been spent on renovations and expansions of casinos in San Diego County.

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Friday, April 19

San Diego Firm Brokers Sacramento Deal

Project has 40 apartments.

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Ad Astra Ventures Launches Third Cohort with Three San Diego Founders

San Diego accelerator program Ad Astra Ventures welcomed three female-led startups into its third cohort this summer.

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Thursday, April 18

Poway Industrial Building Sold For Nearly $16M

Building is fully leased.

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Executive Q & A: Greg McKee, Torrent Ventures

A new fund in town is looking to support health software companies from San Diego to Los Angeles. Greg McKee launched Torrent Ventures in February after serving as CEO of nonprofit startup accelerator Connect for five years. In his new venture, he will team up with Los Angeles investment advisor Luke Hayes to help fund early-stage digital health companies in Southern California.

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The Ratner’s Industrial Inspiration Draws Artistic Tenants to Its Space

A six-building East Village complex has drawn a collection of artsy tenants that the building’s owners hoped to attract when they renovated what was once home to one of the largest manufacturers of men’s clothing in the nation.

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SD 500: Jeff Church

Non-GMO, cold-pressed juice might seem a far cry from concrete and private equity, but Jeff Church has had a hand in these markets.

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SD 500: Dana Alligood

As Southern California commercial banking executive for Bank of America’s Middle Market Banking group, Dana Alligood oversees a business with $175 million in revenue.

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Salk Institute Receives $35M for Plant Initiative Fighting Climate Change

The Salk Institute for Biological Studies is set to receive $35 million to develop plants that suck up large amounts of carbon from the atmosphere to fight climate change.

Seacoast Commerce Bank Reports Q1 Net Income Growth

San Diego-based Seacoast Commerce Bank announced that net income grew 15.3 percent year-over-year for Q1 2019. The bank reported net income of $3.5 million, resulting in earnings of 37 cents per share.

San Diego to Receive JPMorgan Creative Solutions Award

Financial services firm JPMorgan Chase chose the city of San Diego to receive a $3 million award as part of the bank’s Advancing Cities Challenge. JPMorgan said the award is part of a five-year initiative to create economic opportunity and inclusive growth in urban environments.

Turning Point Therapeutics Raises $166.5M in Public Debut

Cancer drug developer Turning Point Therapeutics raised $166.5 million in its public market debut, an amount that surpassed original company expectation.

Aztec Village Shopping Center Sold For $5.1M

New owner plans renovations.

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Tijuana International Airport Gets $95.3 Million Renovation

The five-year renovation on the Tijuana International Airport took place to better accommodate the increase in passenger traffic due to the Cross Broder Xpress, a pedestrian skybridge that connects passengers traveling through TIJ to and from a terminal in San Diego.

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City Heights Apartment Building Sold For $3.7M

Building has 22 apartments.

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Wednesday, April 17

Navy Tests Leading-Edge Tech in April Exercise

Point Loma is home to a U.S. Navy lab, where military and civilian researchers put new inventions to the test.

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Sorrento Mesa Office Building Sold For $9.5M

Building was fully leased.

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Getting With The Programs: Schools and Others Make Group Effort to Create Local Talent Pipeline

WORKFORCE:

San Diego’s got talent. Large tech firms Apple Inc. and Teradata Corp. cited it as the main draw when they announced plans to open new offices in the area, and a host of startups have also relocated down the coast, in hopes of being able to attract more workers.

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Viasat Pens Brazil Distribution Agreement

Carlsbad-based Viasat announced April 16 that it signed a wholesale distribution agreement with Ruralweb in Brazil. The communications company said the partnership with Ruralweb will enable it to deploy high-speed satellite internet services throughout the South American country.

SD 500: Lance Nail

SDBJ 500 recapLance Nail

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SD 500: Gina Champion-Cain

SDBJ 500 recap: Gina Champion-Cain

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Envision Uplisted to Nasdaq, to Raise $12M

San Diego-based Envision Solar International was uplisted from the OTCQB markets to the Nasdaq on April 16. The company also said it was seeking to raise $12 million in a public offer concurrent to the uplisting.

Local VC Investments Don’t Keep 2018 Pace, But They’re Trying

After raising near-record amounts in 2018, San Diego startups continued to draw big investments into the new year.

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Charlotte Russe Plans a Comeback, YM Inc. Confirms

Jasna Brtan, vice president of human resources at YM Inc., the Toronto, Canada-based company that acquired Charlotte Russe in March, confirmed the tweet via email.

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Tuesday, April 16

Viracta Therapeutics Receives Orphan Drug Designation

Viracta Therapeutics will receive tax credits and other benefits under a recent orphan drug designation, the latest from a company that’s been in the news lately.

Triton Aims for a Hot Commodity With Its ‘Cool’ Food

With the rise of the Impossible Burger and Beyond Meat tacos, and other plant-based products, one San Diego startup is looking to take a bite of a growing market.

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Citadel Awarded Drone-Defense Contract

National City-based Citadel Defense signed a $1 million purchase contract with the Defense Logistics Agency on April 16.

Apple, Qualcomm Settle

In the midst of opening statements for Apple's antitrust trial against Qualcomm, the two companies announced a settlement agreement.

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SDBJ Insider: Jacobs School Continues to Rise in Rankings

U.S. News and World Report has ranked UC San Diego’s Jacobs School of Engineering at No. 11 among the nation’s graduate engineering schools.

Youngevity's 2018 Revenue Was Down 2%

Chula Vista-based Youngevity International announced 2018 Q4 and fiscal year results on April 16. The company said full-year revenue decreased year-over-year by 2 percent to $162.4 million, while operating losses improved by 55 percent from $5.9 million to $2.6 million.

SD 500: Dan Broderick

SDBJ 500 recap: Dan Broderick

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SD 500: Lada Rasochova

SDBJ 500 recap:Lada Rasochova has been involved with the commercialization of pharmaceutical and biotechnology products for the past 20 years.

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Monday, April 15

PhaseBio Drug Garners Breakthrough Designation

PhaseBio’s drug that aims to stop bleeding events received a breakthrough drug designation from the U.S. Food and Drug Administration.

Small Town Charms May Be Big Selling Point

BUILDING: Project Offers Community Inspiring Amenities And Variety of Home Styles

A new community that is a mini city of sorts is taking shape in eastern Chula Vista’s Otay Ranch with a goal of re-creating the feel of older small towns but with the amenities modern homebuyers want at a price they can afford.

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Cubic Awarded New Zealand Defense Contract

San Diego-based Cubic Mission Solutions has signed a 12-year contract with the government of New Zealand to provide command and control capabilities to the Ministry of Defense’s Tactical Network project.

VC-Backed ThinkTank Incubator Accepting New Round of Startups

UTC-based startup incubator ThinkTank is accepting a new cohort of startups. Applications are due April 30.

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Bank of Southern California Names COO

San Diego-based Bank of Southern California named executive VP and chief banking officer Tony DiVita chief operating officer on April 15. DiVita’s appointment to COO follows the appointment of Gaylin Anderson to chief banking officer on April 8.

Viasat Delivers Capability Ahead of Schedule

“Concurrent mobile reception” is a term that means the ability to receive multiple radio messages at the same time. Carlsbad-based Viasat Inc. is building that capability into new Link 16 military radios, and it’s doing it before the government client requires it, the company said on April 10.

SD 500: Kara Bortone

SDBJ 500 recap: As head of JLabs San Diego, Kara Bortone helps translate science and technology findings into marketable consumer goods, from pharmaceuticals to medical devices.

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SD 500: Matthew Rattner

Matthew Rattner, longtime president and co-founder of Karl Strauss Brewing Co.

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Kilroy’s Little Italy Building to Be Shining Example of Sustainability

A six-story office structure that Kilroy Realty is about to start building in Little Italy will be a showcase of what company officials said is an aggressive drive to use the latest materials, design and technology to create environmentally sustainable projects.

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AROUND THE VALLEYS

News and notes from the greater San Fernando Valley

Sunday, April 14

The Sales Signs: Residential Brokers Find Reason for Optimism, at Least, in Near-Term Prospects

Home sales are picking up in San Diego County following an especially weak market toward the end of 2018 and early 2019, according to several real estate brokers.

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San Diego International Airport Brings in Second Cohort of Startups

San Diego's Airport Innovation Lab welcomed five startups into its second cohort.

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Biotech Startup Cullgen Raises $16M Series A

San Diego biotech startup Cullgen raised $16 million from Sequoia Capital China and Highlight Capital.

SDSU Welcomes First Female Latina President

Adela de la Torre said San Diego State University will push innovation like never before during her inauguration as the university president. The former University of California, Davis administrator, who became the ninth president of the university on April 11, is the first woman and Latina in the role.

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Rady Children’s Institute for Genomic Medicine Adds 6 Board Members

A division of Rady Children’s Hospital that deploys quick-turnaround genomic sequencing in puzzling cases has added six board members.

Kearny Mesa Office/Industrial Building Sold For $9.4M

Building is headquarters of Morris Cerullo World Evangelism.

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Apple, Qualcomm Fight Opens New Fault Lines

LEGAL: Tech Landscape Changes Would Go Beyond Two Cos.

Qualcomm Inc. and Apple Inc. will face each other in court again, in another important legal skirmish putting billions of dollars and Qualcomm’s licensing business at stake.

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Ocean Beach Apartments Sold For $3.4M

Two buildings have 12 apartments.

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GA-ASI Donates Gray Eagle as Part of Army Museum Support

The National Museum of the United States Army was the recipient of an unmanned aircraft system donation and $50,000 from General Atomics Aeronautical Systems Inc.

Business Events Calendar for Week of April 15, 2019

Events scheduled in the county.

National University Gets Skilled Workers Quickly Into Positions

EDUCATION: New Program Recognizes Changing Dynamics

Despite the gains in employment and an overall decrease in the region’s unemployment rate to 3. 5 percent, experts have found that there is a gap between many workers’ skill sets and the training and education required for labor in many of San Diego’s key industries.

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MedImpact Announces Layoffs

San Diego-based MedImpact Healthcare Systems will lay off up to 64 employees, citing business consolidation.

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Sorrento Therapeutics Files Lawsuit Against Soon-Shiong

San Diego’s Sorrento Therapeutics has accused biotech entrepreneur Patrick Soon-Shiong of a “catch and kill” scheme to keep a drug off the market, according to a complaint filed in Los Angeles Superior Court.

Cubic Wins Ireland Mobile Ticketing Deal

Kearny Mesa-based technology firm Cubic Corp. announced April 8 that it has been awarded a $4 million contract to service Ireland’s National Transport Authority mobile ticketing systems. The technology firm said its work with the transport authority is aimed at allowing mobile users to do business with multiple public transport operators.

Turning Point Therapeutics Lays Out Terms for $125M IPO

Turning Point Therapeutics — which is developing drugs for treatment-resistant cancers — set terms for an initial public offering.

Real Estate Firm Sees 2018 Momentum Rolling Into 2019

San Diego commercial real estate sales in 2018 were especially robust, according to the commercial real estate firm JLL.

OH! San Diego Helps Us All Share S.D.’s Architectural Treasures

The San Diego Architectural Foundation announced that more than 200 attendees, volunteers, and donors joined to kick off the 4th annual OH! San Diego (Open House San Diego) with a Polynesian-themed launch party at Bali Hai Restaurant on Shelter Island in Point Loma.

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RBCF Puts Out the Call for Community Building Programs

The Rancho Bernardo Community Foundation, or RBCF, an affiliate of The San Diego Foundation, announced its annual call for grant applications.

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Thursday, April 11

Kearny Mesa's Spectrum Corporate Plaza Sold For $39.8M

Office complex has two buildings

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Private Equity Firm Closes Acquisition of Kyriba with $160M Investment

Bridgepoint Capital acquired a majority stake in San Diego software company Kyriba.

Evofem Expects to Raise up to $80M in Private Stock Placement

Through a private stock placement Evofem Biosciences raised $30 million and said a second tranche is expected to provide up to $50 million more as the company gets closer to asking for regulatory approval of its birth control gel.

Builder Completes $15.9M Fine Arts Center

A 1970’s-era Mesa College building that was once used for science classes and administrative offices has been transformed into fine arts center in a $15.9 million project completed by C.W. Driver Cos.

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Coworking Company CommonGrounds Inks Atlanta Expansion

The property will be CommonGrounds’ first coworking space in Atlanta

Downtown SRO sold for $7.1M

Jasmine Inn Apartments was built in the 1920s.

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EDs Deal With Shortfalls In Mental Health Care

MEDICINE: Local Hospitals Try To Mitigate Stresses on System

An emergency department director with UC San Diego Health, Dr. Gary Vilke keeps a close eye on trends. One that leaps out: more patients in the throes of a mental health crisis.

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Sempra Subsidiary Receives $3M Innovation Grant

Sempra Energy subsidiary SoCalGas has received a grant from the California Energy Commission to advance its research in renewable energy extraction.

Wednesday, April 10

Insurance Cos. Find Telematics’ Technology Can Be a Useful ‘Underwriting Tool’

Indeed, insurance is only one use for the technology. Telematics helps fleet managers track their far-flung assets and stay on top of maintenance and fuel expenses.

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Brain Corp. Launches Autonomous Delivery Robot

Brain Corp. expects to launch autonomous delivery robots as soon as early 2020.

San Diego Address Is Right Fit for Prefabricated Luxury Home Builder

A Northern California startup will make San Diego its new home. Dvele, which makes prefabricated luxury homes, is moving its executive team to its new offices in Bird Rock.

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Point Loma Apartments Sold For $16.4M

Complex has 34 apartments.

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WD-40 Posts Q2 Gains in Earnings and Sales

Scripps Ranch lubricant and cleaning product manufacturer WD-40 Corp. announced diluted earnings per share of $1.14 when it released its Q2 2019 results this week. In the same quarter one year ago, the company reported diluted earnings per share of $1.05.

Telematics Town: Niche Business Helps Clients Cut Risk, Economize

TECH: Sector Grew Out of Qualcomm Inc.; Use Cases Are Many

San Diego is a hotbed of telematics companies.

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CHW Closes Deal for National City Towers, Plans Renovations

A pair of side-by-side National City residential towers that provide affordable apartments for low-income seniors will get a complete makeover by their new owner — Community Housing Works.

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Turtle Beach Charts Share Buyback

Audio accessories brand Turtle Beach (Nasdaq: HEAR) approved a $15 million share buyback on Wednesday.

Tuesday, April 9

Bridgepoint Education Rebrands, Charts Arizona Location

Over 800 roles at Bridgepoint Education will be moved to Chandler, Arizona, in the next two years.

Clark’s Experience on Fields Helps It Get SDSU Stadium Deal

BUILDING: Clark’s Experience on Fields Helps It Get SDSU Stadium Deal

When Clark Construction Co. got the $250 million contract to build a new home for Aztec football in Mission Valley, the deal was especially sweet for the man who will oversee the project.

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El Cajon Apartment Building Sold For $3.9M

Building has 21 apartments.

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UC San Diego, Berkeley Awarded $6.9M Chan-Zuckerberg Grant

Resources from the grant would advance the implementation of an inclusiveness program.

MedImpact to Lay Off 64 Employees

San Diego-based MedImpact Healthcare Systems will lay off 64 employees, citing business consolidation.

A World of Threats Keeps Local Cybersecurity Sector Busy

SECURITY: Need for Skilled Workers Increasing; Economic Impact is $2.2B

There is a world of threats out there trying to hack into the computers of companies, government agencies and private individuals. San Diego’s cybersecurity sector will have no shortage of work protecting systems and data from these online intruders.

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PriceSmart Posts Q2 2019 Operating Results

Big-box retailer PriceSmart announced total revenues for Q2 2019 increased by 1.8 percent year-over-year to $854.4 million.

SD 500: Andrew Nelson

SD 500 recap: Andy Nelson has been president Willis Allen since 1980 and now oversees six offices and more than 200 real estate agents.

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EvoNexus Launches New Fintech Incubator in San Diego

EvoNexus will launch a new fintech incubator in UTC, in tandem with new partners Franklin Templeton and Royal Bank of Canada.

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San Diego Startups Raised $204M in Early 2019

San Diego startups raised $204 million in venture capital in the first quarter of 2019, according to a newly released MoneyTree report.

Monday, April 8

Niche Role Suits Independent Theater

Despite a growing trend in the movie theater industry toward the high-end and flashy, Encinitas La Paloma Theatre, one of few single-screen, independent movie houses in San Diego, stays chugging along.

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Cubic Wins Ireland Mobile Ticketing Deal

Kearny Mesa-based technology firm Cubic Corp. announced Monday that it has been awarded a $4 million contract to service Ireland’s National Transport Authority mobile ticketing systems. On the same day, it announced a deal with the city of Cupertino.

Special Report: Bottleneck in Psych Care Leaves Hospitals, Patients in the Lurch

The fiscal and care challenges posed by a back-end bottleneck in psychiatric care.

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National University System Launches Training Platform

La Jolla-based nonprofit National University System recently announced the official launch of its Workforce Education Solutions platform.

Turning Point Therapeutics Lays Out Terms for $125M IPO

Turning Point Therapeutics — which is developing drugs for treatment-resistant cancers — set terms for an initial public offering.

Stone Brewing Co. to Close Berlin Brewery

The new owners of the Stone Brewing World Bistro & Gardens - Berlin will be Brewdog, longtime friends of Stone Brewing Co. and headquartered in Scotland.

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CUSTOM CONTENT: Containing the Escalating Costs of Prescription Drug Benefits

Why Self-Funded Plans May Be An Attractive Alternative For Employers

Prescription drug benefits, and in particular, specialty drugs that are increasingly prescribed by doctors. Specialty drugs are high-cost prescription medications used to treat complex chronic conditions like cancer, rheumatoid arthritis and multiple sclerosis.

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Coming Attractions Vital At High-End Theaters

CINEMA: Innovation Is a Must In Competitive Media Sector

The high-end movie theater trend isn’t new.

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Sunday, April 7

$13M Software Upgrade for Navy Triton Aircraft

The U.S. Navy awarded Northrop Grumman Corp. a $12.9 million contract modification to upgrade software on three MQ-4C Triton aircraft.

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Screen-Printed Sensors Can Pinpoint Fentanyl

U.S. Defense Department funds helped a research team at UC San Diego develop an inexpensive way to test for fentanyl, the headline-grabbing opioid that can be 50 times stronger than morphine — or even stronger.

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Lemon Grove Townhome Complex Sold For Nearly $5.6M

Complex has 24 units.

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MedCrypt’s Software Secures Medical Devices

Medical device companies are turning a closer eye to security, and Encinitas software startup MedCrypt is prepared to help them.

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El Cajon Apartment Complex Sold For $3.9M

Complex has 21 apartments

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SBP Partnering for Finding Promising New Drug Targets

To speed the drug discovery path, San Diego’s Sanford Burnham Prebys Medical Discovery Institute, or SBP, recently partnered with WARF Therapeutics.

PriceSmart’s March Merchandise Sales Up 0.1%

For the seven months ended March 31, 2019, net merchandise sales increased 0.3 percent to $1,829.1 million from $1,823.3 million in March a year earlier, according to a news release.

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SD 500: Daniel Sullivan

SD 500 recap: Daniel Sullivan founded and leads one of the largest solar power firms in the nation, with 100 employees and offices in San Diego, Irvine and Riverside.

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SD 500: Francis DeSouza

SD 500 recap: Francis deSouza took the helm of San Diego’s DNA tech giant Illumina Inc. in 2016 and he is leading the company on a five-year plan to extend genomics from research labs into doctors’ offices and as consumer products.

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Business Events Calendar for Week of April 8, 2019

Business events scheduled in the county.

PE Firm Sees Executive Talent as Its Ticket to Smart Acquisitions

INVESTING: Exec Sees Market Turning In Buyers’ Favor

Private equity firm GTCR is betting big on two San Diego executives to lead its newest biotech venture. The Chicago-based firm is launching a new company, Corza Health, with former NuVasive CEO Greg Lucier and GreatCall CFO Brian Berning.

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Home of the Week: From Motor Trend To Horse And Rider

Indulge your passion for rare classic cars, equestrian pursuits, culinary adventures and fine wines at this revered custom estate in the preferred West Covenant of Rancho Santa Fe.

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Anchor Tenants Signed For Phase II of The Village

An expanding Carmel Valley shopping center has added two tenants to its new section as construction is just getting underway.

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Mercy Ball Brings In $2.5M For New Cancer Center

Scripps 47th Annual Mercy Ball raised $2.5 million to help fund the construction of the new state-of-the-art Scripps MD Anderson Cancer Center on the Scripps Mercy Hospital campus.

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Q1 Brings Welcome Change to San Diego Life Science Stocks

INVEST: Market Confidence Makes A Comeback

San Diego life science stocks largely recovered in the first quarter after taking a beating at the end of last year.

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You Get a Chance to Be in The Company of the Cool

San Diego Venture Group named its 2019 class of Cool Companies, which will have the opportunity to meet with a bevy of local investors and out-of-town venture capitalists.

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Cox Charities Marks Two Decades Of Giving With Even More Generosity

Cox Charities is celebrating 20 years of giving in California with 20 acts of kindness in San Diego and other California communities served by Cox Communications.

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Tennis Champion Brings Winning Ways to Design of House

The same inherent grit, tenacity and attention to detail enabled a former No. 1 in the world female singles tennis player, Jelena Jankovic, to design and construct a luxurious personal retreat east of Rancho Santa Fe. Jankovi traveled the world for tournaments during the past fifteen years and could’ve built a home anywhere in the world — she chose the Crosby Estates.

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Foster Kids Share Their Inspiring Stories

Just in Time for Foster Youth, or JIT, held its 6th Annual Walk the Talk Celebration recently at the Hyatt Regency La Jolla at Aventine.

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It Was History in the Making At Center’s Gathering

The San Diego History Center’s 2019 “Makers of San Diego History” event was the most successful in the organization’s history, raising $109,000 for the nonprofit.

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ConnectMed Delivers Care and Compassion

ConnectMed International, a local nonprofit dedicated to bringing our region’s gold standard of health care to resource-limited parts of the world, hosted a “jornada,” or medical work day, to provide free medical care and reconstructive surgery in underserved communities in and around Tijuana, Mexico.

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Malls Seek to Be More Than Just Shopping Stops

Last month, The Forum Carlsbad became San Diego County’s first location to add a Luckey Climbers play structure to its mall space.

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Thursday, April 4

Private Equity Firm Acquires Jenny Craig Inc.

H.I.G. Capital, a Miami private equity firm, acquired Carlsbad-based Jenny Craig for an undisclosed amount.

Museum of Beer to Open in San Diego

The approximate 12,000 square foot space will also feature a beer garden, an artisanal pizza kitchen and a tasting room that will feature beers from members of the San Diego Brewers Guild.

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Harbor Club Retail Space Acquired For $13.6M

Project covers 42,810 square feet in downtown's oldest luxury condominium tower.

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GA-ASI to Build Aircraft for Spain in $34M Deal

The MQ-9 model is known as the Predator B, Reaper or Guardian.

Sunroad Enterprises Gets $145M Loan For Kearny Mesa Apartments

Project will have 442 apartments.

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SD 500: Sumeet Parekh

SD 500 recap: Sumeet Parekh is managing partner for HP Investors, which specializes in the investment and development of commercial real estate.

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SD 500: Kurt Chillcott

SD 500 recap: As longtime CEO of San Diego-based CDC Small Business Finance, Kurt Chillcott has overseen the distribution of more than $13.8 billion in financing to more than 11,000 small businesses.

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Bitmo Brings Gift Cards Digitally Up to Date

Frustrated by the growing number of plastic gift cards in his wallet, San Diego software entrepreneur Mike Smallwood sought out a digital solution.

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Belgium Moves Closer to $600 Million Reaper Deal

General Atomics Aeronautical Systems Inc. is getting attention from a NATO ally and the aviation community at large.

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Wednesday, April 3

Big Residential Development Planned for Rancho Penasquitos

Plans for development of a new residential community in Rancho Penasquitos edged closer to reality when Lennar Corp. acquired the 41.5 acre site from Atlantic Pacific Cos.

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Kearny Mesa Business Campus Sold For $28.2M

Campus has three buildings.

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EvoNexus Launches New Cohort with Merck’s High-Tech Materials Subsidiary

EvoNexus is launching a new incubator program with Merck's subsidiary, EMD Performance Materials.

SD 500: Jeffrey Martin

SD 500 recap: Jeffrey Martin in 2018 became CEO and chairman of Sempra Energy. In March, the company completed an acquisition of Dallas-based Oncor, which established Sempra with the largest U.S. utility customer base.

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SD 500: Janice Brown

SD 500 recap: Janice Brown launched her own law firm in 2003 specializing in business and employment law.

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San Diego Company Building $17M Tucson Medical Pavilion

Construction due to start in summer.

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Autonomous Vehicle Scene Accelerates in S.D.

TECH: Infrastructure, Talent And Lower Costs Drive Growth

At its offices tucked away in a San Francisco home, Comma.ai was running short on space. CEO Riccardo Biasini knew it was time for a change, and wanted to consider all of the company’s options.

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Tuesday, April 2

Hackathon Enlists San Diego Developers to Find Smart Solutions for City Problems

Ignite - SCALE- San Diego will host a competition to develop promising solutions for challenges in transportation, food access and city planning.

Vista Welcoming New Apartment Projects

BUILDING: High-End Is Focus, Class B, C Lackin

Bulldozers are rumbling across central Vista as the inland North County city of 103,000 experiences a wave of construction of new, high-end apartment buildings, that will complement the city’s multimillion-dollar, decades-long quest to revitalize its downtown core.

Intel Poaches Qualcomm’s CFO

Qualcomm Chief Financial Officer George Davis will now serve as Intel's CFO.

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La Playa Corona Apartments Sold For $9M

Renovations planned.

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SDBJ Insider: Longfellow Still On West Coast Shopping Spree

Starting in San Diego, Longfellow Real Estate Partners continues to put its lens on California’s hot life science markets.

SD 500: Peter Zien

SD 500 recap: Peter Zien was instrumental in building the region’s craft brewing reputation.

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Half Door Brewing Building Sold For $3.8M

Brewery lease will continue.

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Brooklyn Girl Eatery Closes

According to a Facebook post, Sunday March 31st was the last day Brooklyn Girl Eatery opened to the public.

SD 500: Valorie Seyfert

SD 500 recap: Valorie Seyfert co-founded CUSO Financial Services in 1996 and later launched sister company Sorrento Pacific Financial LLC.

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Monday, April 1

Report: Paul Jacobs No Longer Looking to Take Qualcomm Private

Former Qualcomm Chairman Paul Jacobs said conditions weren't right to take Qualcomm private, according to a Wall Street Journal report.

U.S. Clears Sempra to Export LNG from Baja California

Sempra Energy has received federal approval to export natural gas to its terminal near Ensenada, Mexico for shipping to foreign shores. The news comes on the eve of a major LNG conference in Shanghai.

Fairs, Festivals and Horses Have Good Runs at Fairgrounds

ECONOMY

When the Del Mar Fairgrounds comes to mind, one may immediately think of horse races or the San Diego County Fair. And, rightfully so, as these are two of the biggest events the fairgrounds hosts each year, with 1.5 million attendees expected this year for the former and almost three million attendees for the latter.

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Charles River Laboratories to Lay off 24, Close San Diego Site

Charles River Laboratories, among the firms playing niche roles in drug development, plans to close its San Diego site and lay off 24 employees.

CureMetrix’s Mammogram Software Wins FDA Approval

BIOTECH: Co. Employs Deep Learning, AI and Extensive Image Data

CureMetrix recently got the U.S. Food and Drug Administration’s blessing to market software that flags which mammograms raise suspicions of breast cancer.

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CBRE's New Senior Vice President to be Based in San Diego

According to a news release, Kristina Metzger will be based in the company’s San Diego office.

SD 500: Ken Weixel

SD 500 recap: Ken Weixel started his career with Deloitte in 1980 and joined the San Diego office as managing partner in 2014.

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SD 500: Theresa M. Drouillard

SD 500 recap: As CEO of LevitZacks Certified Public Accountants, Theresa M. Drouillard provides tax, accounting, and related consulting services to a variety of industries.

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