San Diego Business Journal

SD BUSINESS JOURNAL DAILY ENEWS

Mast Terminates Clinical Development of Sickle Cell Drug Following Poor Results; Co.'s Stock Plunges

The stock of local biotech Mast Therapeutics Inc. has plummeted nearly 80 percent following news of lousy clinical trial results.

Xencor Expanding L.A. County Operations Into San Diego

L.A. County-based Xencor Inc. is expanding its operations into San Diego, the company announced Thursday.

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KCD PR Acquires Wall & Broadway

San Diego-based public relations and marketing agency KCD PR has acquired Wall & Broadway, a boutique consulting firm that specializes in clients in the fintech sector, the company announced this week.

Local Office of BNBuilders Gets $8.48M Caltech Lab Project

The San Diego office of general contractor BNBuilders has been hired to renovate an existing biomedical laboratory at California Institute of Technology (Caltech) in Pasadena. A company statement said the guaranteed maximum price for the project is approximately $8.48 million.

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Bankers Hill Apartment Property Sells for $3.89 Million

An Irvine buyer recorded as Bankers Hill Holdings LLC has acquired a 13-unit apartment building in San Diego’s Bankers Hill neighborhood for approximately $3.89 million, according to CoStar Group and public data.

Novatel Sells Wireless Hotspot Business for $50 Million

Novatel Wireless has agreed to sell its MiFi wireless hotspot business for $50 million cash.

Tealium Raises $35 Million to Fund Global Expansion, Innovation

San Diego-based Tealium Inc. said on Sept. 21 that it received an additional $35 million in venture capital.

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Encinitas Office Condo Sold for $2.2 Million

An affiliate of Encinitas-based Comprehensive Dermatology Group has purchased an office condominium building in Encinitas for approximately $2.2 million, according to CoStar Group and public data.

Google Exec Reportedly Starting Company in San Diego

Dmitry Shapiro, former CEO of Veoh Networks and more recently a Google executive, is reportedly setting up a company in San Diego called GoMeta Inc.

Cobham Gets Multimillion-Dollar Contract

Cobham, which operates the former Remec business in San Diego, said it received orders worth tens of millions of dollars for radio frequency microelectronics to support the F-35 Lightning II fighter aircraft.

San Diego Architecture Firms AVRP, Skyport Studio Merge

San Diego architecture and design firms AVRP Studios and Skyport Studio announced that they have merged, with the combined company now called AVRP Skyport Studios.

San Diego Hotels Post 3.7 Percent Revenue Rise in First 8 Months

San Diego County hotels saw total revenue rise 3.7 percent from a year ago in the first eight months of 2016, topping $1.86 billion, even as occupancy dipped 0.3 percent to 79 percent, according to the latest monthly data from research firm STR.

El Centro Solar Plant Supplying Energy to San Diego Gas & Electric

A fully operational, 150-megawatt solar plant 14 miles west of El Centro is now providing energy to San Diego Gas & Electric Co. under a 25-year power purchase agreement, announced Omaha, Neb.-based project developer Tenaska.

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Wendy Wong Named Guild Mortgage's First Chief Marketing Officer

Independent mortgage lender Guild Mortgage Company said Wednesday it has hired Wendy Wong as its first chief marketing officer and senior vice president.

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San Diego Firm Buys Escondido Mobile Home Park for $9.35 Million

San Diego-based Kleege Enterprises has acquired the Canyon Crest Estates mobile home park in Escondido for $9.35 million, according to brokerage firm Colliers International Group Inc.

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Kate Dilligan Joins Executive Team at KnuEdge

KnuEdge Inc., the company founded by former NASA Administrator Dan Goldin, named Kate Dilligan executive vice president and general manager of its KnuVerse division, which has created military-grade voice recognition and authentication technology.

Cidara Therapeutics' Platform Identifies Potential New Drug Candidate

Local drugmaker Cidara Therapeutics Inc. has identified a new research target that could potentially treat bacterial infections that have formed resistance to multiple drugs on the market, the company said Wednesday.

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Oceanside Retail Center Sells for $7 Million

A Honolulu- based joint venture, including Oceanside Sullivan LLC and Oceanside Takayama LLC, has purchased an Oceanside retail center for $7 million, according to brokerage firm Cushman & Wakefield.

CyberFlow Analytics Acquired by Colorado-Based Webroot

Webroot Inc., a Colorado-based cybersecurity company, has acquired San Diego-based CyberFlow Analytics for undisclosed terms, the companies announced on Sept. 19.

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North Park Apartment Property Sold for $3.37 Million

C&C University LLC of San Diego has purchased a 16-unit North Park apartment property for $3.37 million, according to brokerage firm Marcus & Millichap.