San Diego Business Journal

SD BUSINESS JOURNAL DAILY ENEWS

Seacoast Commerce Reports Q2 Net Income of $1.4M

Seacoast Commerce Banc Holdings, the holding company of Rancho Bernardo-based Seacoast Commerce Bank, reported second-quarter net income of $1.4 million, or 23 cents per share, compared with net income of $1.8 million, or 30 cents per share, a year ago, a 22.7 percent decrease.

By Sarah de Crescenzo July 20, 2017 2 p.m. share »
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Sommetrics Names Corbet Lancaster Senior VP of Finance

A small medtech company in Vista, Sommetrics, has recruited Corbet “Cory” Lancaster to serve as the company’s new senior vice president of finance.

By Brittany Meiling July 19, 2017 4:44 p.m. share »
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El Cajon Apartments Sold for $5.6 Million

San Diego investors Ronald and Judy Endeman have acquired a 26-unit apartment property in El Cajon for $5.6 million, according to brokerage firm Marcus & Millichap.

By Lou Hirsh July 19, 2017 4:41 p.m. share »

Pacific Southwest Association of Realtors Names New Board

One of the largest trade associations for real estate agents in San Diego has announced its incoming board of directors. Members will be seated Jan. 1.

By Sarah de Crescenzo July 19, 2017 4:39 p.m. share »

Qualcomm Revenues Lag Amid Apple Dispute

After warning in late April that its third-quarter financial results might lag because of disputes with customers, Qualcomm Inc. turned in net income of $900 million, or 58 cents per share, on $5.4 billion in revenue.

By Brad Graves July 19, 2017 4:05 p.m. share »

Chinese PE Firm Closes $400 Million Fund

A Chinese private equity firm that has its eye on San Diego biotech just closed a $400 million fund, its second and biggest yet.

By Brittany Meiling July 19, 2017 2:18 p.m. share »

Sixt Rent-a-Car Plans New San Diego Operations

Florida-headquartered Sixt Rent-a-Car plans to expand into San Diego this fall, with new operations being established at the consolidated rental car center that opened last year near San Diego International Airport.

By Lou Hirsh July 19, 2017 2:12 p.m. share »

Coronado Brewing Acquiring Majority Stake in Monkey Paw Brewing

Coronado Brewing Co. is acquiring a majority stake in San Diego-based craft beer-maker Monkey Paw Brewing Co. for an undisclosed price. Officials of the two companies said the transaction is expected to close Sept. 1.

By Lou Hirsh July 19, 2017 11:05 a.m. share »

Brain Corp. Raises $114 Million in Series C Funding

San Diego-based Brain Corp. said on July 19 that it brought in $114 million in Series C funding. SoftBank Vision Fund led the round while Qualcomm Ventures was a repeat participant.

By Brad Graves July 19, 2017 10 a.m. share »

National University to Launch Precision Institute

La Jolla-based National University, the flagship of the National University System network of nonprofit education institutions, has launched a four-year, $20 million initiative that will pilot new approaches to personalize higher education.

By Sarah de Crescenzo July 19, 2017 midnight share »

Q2 Data Suggests Continued Gains for Two Key Markets

The first official brokerage company data trickling in for 2017’s second quarter suggests that conditions favoring landlords still reign in two categories.

By Lou Hirsh July 18, 2017 5:29 p.m. share »
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San Diego Firm Buys Encinitas Apartments for $53 Million

An affiliate of San Diego-based Property West Residential has acquired a 120-unit apartment property in Encinitas for $53 million, according to CoStar Group and public data.

By Lou Hirsh July 18, 2017 5:17 p.m. share »

Koia Announces $7.5 Million Seed Round

Beverage company Koia, which makes fresh, plant-based protein drinks, announced Tuesday it had closed a $7.5 million seed round of financing led by KarpReilly LLC.

By Sarah de Crescenzo July 18, 2017 5:15 p.m. share »
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Senior Apartment Property in North Park Sold for $5.1 Million

An affiliate of San Diego-based Melroy Investments Inc. has acquired a 26-unit senior apartment community in North Park for $5.1 million, according to CoStar Group and public data.

By Lou Hirsh July 18, 2017 3:54 p.m. share »

As It Shifts Direction, Ingenu Searches For New CEO

Ingenu Inc. has announced that CEO John Horn has left the company.

By Brad Graves July 18, 2017 3:26 p.m. share »

Ionis Pharmaceuticals Earns $10 Million Payment From Biogen

Carlsbad drugmaker Ionis Pharmaceuticals Inc. has earned a $10 million paycheck from its big biotech partner Biogen Inc.

By Brittany Meiling July 18, 2017 9:44 a.m. share »
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Phoenix Molecular Appoints Chief Scientific Officer

A longtime member of San Diego’s life science community, Dr. Gerrit Los, has been named chief scientific officer at Phoenix Molecular Designs.

By Sarah de Crescenzo July 18, 2017 9:41 a.m. share »

Cubic Acquires British-Based Deltenna Ltd.

Cubic Corp. said on July 18 that it acquired privately held Deltenna Ltd. of Chippenham, U.K. for undisclosed terms. Deltenna specializes in wireless infrastructure, offering radio and antenna communication solutions.

By Brad Graves July 18, 2017 9:34 a.m. share »
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Four Reasons That 95 Percent of Startups Fail … Plus One From the Audience

During his appearance at Qualcomm Inc. at the end of June, internet pioneer and Google executive Vint Cerf asserted that 95 percent of startups fail. Better business practices could get that down to 65 percent, he said.

By Brad Graves July 17, 2017 4:37 p.m. share »
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North Park Commercial Property Sold for $3.6 Million

ECB Partners LLC of San Diego has acquired a North Park office and retail property for $3.6 million, according to CoStar Group and public data.

By Lou Hirsh July 17, 2017 3:19 p.m. share »