Stories for April 2014

Wednesday, April 30

Otonomy's Ear Treatments Catch Eye of Investors to Tune of $49 Million in Series D Round

Otonomy Inc. has raised $49 million in a Series D round to further advance its treatments for diseases of the ear.

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Qualcomm Makes Deal to Create Stand-Alone Company From Subsidiary

Qualcomm Technologies Inc. has agreed with third-party investors to establish its subsidiary Qualcomm Retail Solutions Inc. as an independent stand-alone company, according to a news release from Qualcomm Inc., the parent company of QTI.

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Tamper-Resistant Painkiller May Affect Zohydro’s Market

Zogenix Inc., the San Diego drugmaker beset with controversy for its new painkiller Zohydro, could soon have a new competitor in its midst.

Westfield Plans $300 Million Conversion of Carlsbad Mall

Sydney-based Westfield Group is planning a $300 million renovation of Plaza Camino Real in Carlsbad, as it converts the 45-year-old indoor mall into an open-air shopping center.

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Cubic Receives $35M Deal for Training British Army

Cubic Defense Systems, a business unit of Cubic Corp., was awarded a follow-on contract worth more than $35 million for training support to the British Army.

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Office Campus Housing Northrop Grumman Sold for $26 Million

Drawbridge Acquisitions LLC of San Francisco has purchased a Rancho Bernardo office campus, fully leased to Northrop Grumman Corp., for approximately $26 million, according to brokerage company Cassidy Turley, which represented the seller.

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New President Named for San Diego City College

The San Diego Community College District named Anthony Beebe as new president of San Diego City College.

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Kratos Reports Q1 Results

San Diego-based Kratos Defense & Security Solutions Inc. reported a net loss of $15 million on revenue of $200.1 million in its first quarter, which ended March 30.

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Tuesday, April 29

SAIC Employee Dies in Navy Night-Training Exercise

An employee of Science Applications International Corp. died April 28 in San Diego Bay off Naval Air Station North Island during a nighttime U.S. Navy training exercise, according to representatives of the defense contractor and the Navy command that holds the contract.

Novatel Wireless Reaches Agreement With Investor Group

Novatel Wireless Inc. is expanding its board from six to eight members, announcing the appointment of two new directors, as part of an agreement with an investor group that had been questioning the company’s direction.

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NuVasive Announces Upcoming CFO Change, Reports Earnings

NuVasive Inc. said Quentin Blackford will be assuming the role of chief financial officer later this year when Michael Lambert, the current CFO of the San Diego spine implant maker, retires. Blackford is the company’s current executive vice president of finance, accounting and investor relations.

DJO Global Reports Q1 Sales of $282.7 Million

Vista orthopedics and medical device maker DJO Global Inc. showed incremental first quarter growth, with net sales up 1.3 percent to $282.7 million in the quarter ended March 29, 2014.

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Revenue, Net Income Rise at American Assets Trust

American Assets Trust Inc. (NYSE: AAT) saw revenue and net income rise from a year ago in its first quarter ending March 31.

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Tealium Raises $20 Million in Financing

San Diego-based Tealium received an additional $20 million in growth financing led by Silicon Valley investment firm Silver Lake Waterman, the company announced.

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Correlation Ventures Reports Record First Quarter for Investments

Correlation Ventures invested a record amount of capital for the firm in new startup companies during first quarter 2014, the firm said.

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Kaiser Makes COO Appointment for North County

Kaiser Permanente San Diego has appointed Max Villalobos as chief operating officer of North County for Kaiser Foundation Hospitals and Health Plan.

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InterDigital Names Chief Technology Officer

InterDigital has named Byung Yi as its new chief technology officer.

Northrop Grumman Gets Contract for IED Jamming Systems

Northrop Grumman Corp. will build electronic jammers to foil roadside bombs under a new contract from the U.S. Marine Corps.

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Monday, April 28

Obama Attends Signing of Verdezyne's $48M Investment Deal in Malaysia

Carlsbad industrial biotech Verdezyne Inc. will receive a $48 million investment from Malaysia-based multinational conglomerate Sime Darby Berhad.

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Vista Builder Begins Work on $13.5 Million Apartment Project

A Vista-based construction company has begun work on a $13.5 million, 68-unit affordable housing community in that city.

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Petco Names New CFO

Petco Animal Supplies Inc. named Larry Rutkowski executive vice president and chief financial officer.

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Former Skating Rink Building in National City Sold for $6.3M

A National City building that formerly housed Skate San Diego, a roller skating business, was for $6.3 million.

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Cubic Corp Receives $11 Million Air Combat Training Contract

Cubic Corp. received a contract worth more than $11 million to provide air combat training support to an undisclosed customer in the Middle East.

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Kratos Gets $7.8 Million Navy Deal

Kratos Defense & Security Solutions Inc. said it received $7.8 million worth of U.S. Navy electronics work.

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Verimatrix Inc. Names President

Verimatrix Inc. has named Steve Oetegenn as its new president, the company announced.

Sunday, April 27

Sundt-Layton Venture Tapped for $169 Million Correctional Housing Project in Otay

joint venture of Sundt Construction Inc. and Layton Construction Co. Inc. has been selected by the California Department of Corrections and Rehabilitation to build a $169 million correctional housing project in Otay Mesa.

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ViaSat Inc. Awarded $283 Million in Patent Infringement Case

A federal jury in San Diego awarded ViaSat Inc. $283 million in damages in a patent infringement and breach of contract case. Carlsbad-based ViaSat (Nasdaq: VSAT) announced the damage award against Palo Alto-based Space Systems/Loral on April 24.

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Del Mar Highlands Town Center Plans $50 Million Expansion

Shopping center owner and operator Donahue Schriber plans approximately $50 million in improvements at Del Mar Highlands Town Center in Carmel Valley, including a parking structure, movie theater expansion, and new stores and eateries.

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San Diego County Water Authority Gets Key Court Victory in Billing Dispute Against MWD

San Diego County Water Authority has prevailed in the first phase of historic rate litigation case against the Metropolitan Water District of Southern California.

Illumina Files Patent Infringement Lawsuit

Illumina Inc. has filed a patent infringement lawsuit against San Jose-based Ariosa Diagnostics Inc.

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The Business Calendar for the Week of April 28, 2014

Some of the business events in the county scheduled for the week of April 28, 2014.

Project Pie Opens Its Third Pizzeria in County

Project Pie, a Carlsbad-based pizza chain, recently opened its second Chula Vista restaurant, at 2260 Otay Lakes Road in the Eastlake Village Center.

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Kratos Receives $2.8 million in Security System Deployment Awards

Kratos Defense & Security Solutions Inc. said one of its divisions recently received $2.8 million in security system deployment awards for unnamed educational facilities in the United States.

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Friday, April 25

Kratos Gets $2.8 Million Security Systems Deal

Kratos Defense & Security Solutions Inc. said one of its divisions recently received $2.8 million in security system deployment awards for unnamed educational facilities in the United States.

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County Water Authority Gets Key Court Victory in Billing Dispute Against MWD

San Diego County Water Authority has prevailed in the first phase of historic rate litigation case against the Metropolitan Water District of Southern California.

Contractors Tapped for $169 Million Correctional Housing Project in Otay

A joint venture of Sundt Construction Inc. and Layton Construction Co. Inc. has been selected by the California Department of Corrections and Rehabilitation to build a $169 million correctional housing project in Otay Mesa.

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ViaSat Awarded $283M in Patent Infringement Case

federal jury in San Diego awarded ViaSat Inc. $283 million in damages in a patent infringement and breach of contract case. Carlsbad-based ViaSat (Nasdaq: VSAT) announced the damage award against Palo Alto-based Space Systems/Loral on April 24.

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$50 Million Expansion Planned at Del Mar Highlands Town Center

Shopping center owner and operator Donahue Schriber plans approximately $50 million in improvements at Del Mar Highlands Town Center in Carmel Valley, including a parking structure, movie theater expansion, and new stores and eateries.

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Illumina Files Patent Infringement Lawsuit Against a San Jose Company

Illumina Inc. has filed a patent infringement lawsuit against San Jose-based Ariosa Diagnostics Inc.

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Project Pie Opens Third Local Pizza Restaurant

Project Pie, a Carlsbad-based pizza chain, recently opened its second Chula Vista restaurant, at 2260 Otay Lakes Road in the Eastlake Village Center.

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Five Teens Benefit From Mentoring Program at Crush Italian Cuisine

he Boys & Girls Clubs of San Dieguito and the team at Crush Italian Restaurant in Solana Beach have partnered to create a mentoring program for teens that combines shadowing and one-on-one mentoring techniques to teach teens skills in the restaurant industry.

Business Calendar for Week of April 28, 2014

Some of the business events happening around the county for the week of April 28, 2014.

Executive Profile: Paul Viviano

Paul Viviano is chief executive officer of UC San Diego Health System and associate vice chancellor for UC San Diego Health Sciences.

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Californians Get Covered

HEALTH: Covered California Strived to Reach The Latino Population

Enrolling the Latino population in the state-run health insurance exchange has long been viewed a linchpin in the success of Covered California — and Obamacare as a whole.

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Firm Gets More Financial Prowess With Addition of 2 Lawyers

Mikel Bistrow and Christopher Celentino, local high-profile bankruptcy and transactional finance lawyers, have joined Ballard Spahr as partners. Bistrow and Celentino have extensive experience in finance and insolvency matters and are accomplished in business reorganizations and financial transactions.

Closing Windows XP Opens Door For Much Needed Upgrades

Microsoft Corp. (Nasdaq: MSFT) quit supporting Windows XP on April 8, meaning the operating system is dead.

Bank Thinks Big and Acts Small to Connect With Customers

You may not have heard of Portland, Ore.-based Umpqua Bank, but that is about to change following its acquisition of Sterling Financial Corp.

And You Thought Computer Bugs Were Bad: Scratch That Thought

Lice removal, more specifically: Nitpicking is becoming quite the niche business.

Bumble Bee Completes Move To East Village

Bumble Bee Seafoods LLC has finished moving its corporate headquarters to the historic Showley Bros. Candy Factory building in East Village, near Petco Park.

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Chula Vista Renews Quest for University District

Development: City Enlists Consulting Architects To Create Standards for Area

Chula Vista by year’s end is looking to set in motion long-discussed plans to establish a 375-acre university and innovation district, with the goal of creating an education-focused cluster for economic development in South County.

Law Students Will Have More on Their Plate With New Eatery

DINING: School Sees Restaurant, Retail Adding To Campus, Community

Practicing attorney Chad Ruyle is going back to law school for his latest entrepreneurial venture.

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Store Relocation Part of Mall’s Move in Bigger, Better Direction

RETAIL: Nordstrom Upgrade Coming to UTC, Along With More Changes

After completing a $180 million renovation of its Westfield UTC mall in 2012, Westfield Group plans to embark later this year on further expansion at its University Towne Center property, which will feature a relocated and enlarged Nordstrom store.

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Co. Blames Critical Reports on Short Seller, Files Libel Lawsuit

BIOTECH: Organovo Says Critical Co. Recently Formed, Issued 2 Reports

San Diego 3-D bioprinting company Organovo Holdings Inc. has filed a libel complaint with the Delaware Court of Chancery against little-known Simeon Research LLC in response to its publishing two inflammatory reports about Organovo that the company believes contains “unsubstantiated and intentionally misleading claims.”

Webble’s ‘Tag’ Will No Longer Let You Blame Lost Items On Dog

TECH: App Enables Users To Reach Out to Others to Help Find What’s Missing

People who tend to lose their wallets, tablet computers and key fobs have a friend in downtown San Diego.

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Corporate Volunteers Vital To Nonprofit Success

Each April, when we celebrate National Volunteer Month, there is a tendency to focus on the impressive manual contributions that thousands of San Diegans make to their community — cleaning up beaches, walking for a cause and serving meals to our most vulnerable residents. Less celebrated, but equally important, are the many executives who volunteer their professional talents.

Vital Therapies IPO Misses Life Science’s Bulls

Biotech: Co. Plans to Use New Funds to Further Trials Of Liver Failure Treatment

Despite its reportedly promising treatment for liver failure, San Diego-based Vital Therapies Inc. has had a bit of a rough go as it hit the markets. The company raised more than $30 million less than it initially hoped for in its recent initial public offering, pricing its stock below the expected range to raise gross proceeds of $54 million by offering 4.5 million shares at $12 apiece.

Qualcomm Facing China-Related Challenges

TECH: Quarterly Filing Shows Growth, Though Less Than Predicted by AnalystsTECH: Quarterly Filing Shows Growth, Though Less Than Predicted by AnalystsTECH: Quarterly Filing Shows Growth, Though Less T

China continues to hold both opportunity and peril for Qualcomm Inc. The country of 1.3 billion people loomed in the background again April 23 as the San Diego tech company released second-quarter revenue figures well north of $6 billion.

S.D. Crime Rates Drop, According To Sandag Report

Crime rates dropped in 2013 after an uptick in 2012, regional planning agency Sandag reported. For example, the 2013 rate for violent crime — 3.66 incidents per 1,000 residents — was 5 percent less than 2012.

Bug Brings Invasion Of the Data Snatchers

TECH: IT Cos. Scramble to Thwart Heartbleed ThreatTECH: IT Cos. Scramble to Thwart Heartbleed ThreatTECH: IT Cos. Scramble to Thwart Heartbleed Threat

The Heartbleed bug has San Diego businesses hopping.

‘New’ Opera Board Has Survivor Mentality

ARTS: It Seeks ‘Novel’ Solution to Fiscal Woes

The San Diego Opera, reeling because of a planned shutdown, got another reprieve when its reconstituted board of directors delayed the group’s demise, at least, to May 19.

Co. Looks for Consensus on County Project

PROPERTY: Housing Plan Will Be Smaller and More Varied

San Diego’s Newland Communities is planning what will likely be a downsized, more sustainable version of a controversial 2,630-home North County development that was rejected by county officials under a prior developer.

Groom Service

SALONs: Personal Care Salons Find Profit in Delivering Niche Services

It’s hair today that’s gone tomorrow with Beauty By Dolly — a wildly popular San Diego salon that specializes in the ancient art of yanking out unwanted facial hairs with a simple cotton thread.

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Thursday, April 24

Karl Strauss Completes Renovation of Sorrento Mesa Restaurant

Karl Strauss Brewing Co. of San Diego has completed a $1.5 million renovation of its brewery restaurant in Sorrento Mesa.

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Zogenix Makes Moves to Concentrate on Its Zohydro Efforts, Sells Migraine Therapy Business

The saga continues for San Diego’s embattled Zogenix Inc., as it continues to voice objection to the new restrictions placed by the state of Massachusetts on the sale of its narcotic painkiller, Zohydro.

Callaway Sees Solid Improvement, But Also Possible Challenges

Shares of Callaway Golf Co., the Carlsbad-based golf equipment maker, closed down 8 percent on April 24 after the company reported improved financial results but a so-so forecast.

Ramada Hotel in Mission Valley Sold for $6.85 Million

Locally based Oceanic San Diego LP has purchased the 102-room Ramada Mission Valley hotel for $6.85 million, according to CoStar Group and public data.

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Scripps Researchers Identify New Vulnerability in HIV

Scientists at The Scripps Research Institute have discovered a new vulnerability in the HIV, which can be attacked by the human immune system so it neutralizes a wide variety of HIV strains.

Cubic's Transportation Systems Gets $7.5 Million Deal

Cubic Corp. (NYSE: CUB) said on April 23 that its Transportation Systems business received a $7.5 million add-on contract with the Metropolitan Transportation Commission in the San Francisco Bay Area.

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Wednesday, April 23

Qualcomm Revenue Misses Analysts’ Mark; Co. Receives Wells Notice From Feds

Qualcomm Inc. reported net income of $1.96 billion on revenue of $6.37 billion in the company’s second quarter — short of the $6.48 billion predicted by analysts in a Reuters poll.

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South County Residential Land Sells for $21 Million

Moller Otay Lakes Investment LLC, a Delaware limited liability company, has purchased 867 acres of residential land near Jamul for approximately $21 million, according to real estate services provider Land Advisors Organization, which represented the seller.

Q3 Earnings Are Up at ResMed Inc.

Earnings for ResMed Inc. continue to rise, with a net income of $90 million for the quarter ended March 31 as compared with $84.9 from the previous year.

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California Economic Activity Index Dips 1.1% in February

Comerica Bank’s California Economic Activity Index declined in February, dropping 1.1 percent to 109.

Bumble Bee Seafoods Completes Move into New East Village Headquarters

San Diego-based Bumble Bee Seafoods LLC has completed the relocation of its corporate headquarters to the historic Showley Bros. Candy Factory building in East Village, near Petco Park.

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GroundMetrics Raises $2.73M in Funding Round

San Diego-based GroundMetrics Inc. — which offers technology services to the oil and gas industry — said that it raised $2.73 million in its series B funding round.

Forbes Ranks San Diego As 10th Best City for Millennials

Forbes magazine has ranked San Diego as the nation’s 10th best city for the Millennial generation, naming Little Italy as the city’s top neighborhood for residents between the ages of 25 and 34.

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Local Call Center Company Changes Its Name

Intelicare Direct is the new name for Desert Call Connection, the Kearny Mesa-based business announced recently.

Tuesday, April 22

Miller Hull Chosen for I.D.E.A. District Project, Will Relocate There

The San Diego office of architectural firm Miller Hull Partnership will relocate to a planned new mixed-use office and residential development in East Village, after being chosen by developers to design IDEA1, slated for the downtown area known as the I.D.E.A. District.

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Navy Names New Spawar Commander

The U.S. Navy has tapped Rear Adm. David H. Lewis to be the next commander of Spawar.

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Illumina’s Q1 Revenue Is Up 27%

Revenue for Illumina Inc. surged in the first quarter of 2014, thanks to the “astonishing demand” for a slew of newly released gene sequencing products, said CEO Jay Flatley.

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Trigild Partners on $16.5 Million Acquisition of Santa Cruz Hotel

San Diego-based Trigild and Blu Hotel Investors of Santa Barbara have completed a $16.5 million acquisition of a 100-room Holiday Inn Express & Suites in Santa Cruz.

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AT&T Considering Ultra-Fast Internet Connectivity for San Diego Region

AT&T Inc. said it is considering putting high-speed Internet connectivity in San Diego and 20 other metro areas in the United States.

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Petco Names President of Unleashed Division

Petco, the San Diego based pet foods retailer, said it named Brad Weston president of its Unleashed by Petco division.

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Seminar Will Explain and Explore Angel Investing Opportunities

The San Diego Tech Coast Angels is looking for a few good investors.

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Monday, April 21

2 San Diego Businesses Are in the Hunt for Carrier-Drone Contract

The U.S. Navy recently offered contractors details on what it would like to see in its first production aircraft carrier-based drone.

MG Properties Buys 4 Apartment Communities for $80 Million

San Diego-based MG Properties Group has purchased four California apartment properties totaling 770 units, for a total of more than $80 million.

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Conference Will Help Create Links Among Industry, Innovators and Foreign Investors

“Making It in America” is the title of a three and half-day conference aimed at making connections for local innovators with business representatives from China, the Philippines, Thailand and Vietnam.

Nominations for “Best of the Bar” Close May 2

The San Diego Business Journal will soon be closing nominations for its inaugural Best of the Bar 2014 supplement. Nominations must be received by Friday, May 2.

Active Network Plays Role in White House Easter Egg Roll

The Active Network handled the ticket lottery for the White House Easter Egg Roll.

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AMN Healthcare Refinances Its Outstanding Credit Facilities

San Diego staffing company AMN Healthcare Services Inc. has refinanced its existing credit facilities.

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Ace Parking Installs Solar-Powered Charging Station at Downtown Lot

Ace Parking has a new solar-powered vehicle charging station available at its 1220 Union St. location in downtown, the company said.

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Two Local Stores Closing as Coldwater Creek Shuts Operations

Two San Diego County stores are among 350 being closed by Coldwater Creek Inc., as the Idaho-based women’s clothing and accessories retailer shuts all of its locations as part of a recent Chapter 11 filing in U.S. Bankruptcy Court.

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San Diegan Wins Boston Marathon

Meb Keflezighi, who grew up in San Diego and graduated from San Diego High School, won the Boston Marathon today, the first American man to win the prestigious race since 1983.

Sunday, April 20

SDSU Names New Dean of College of Business Administration

San Diego State University has named an academic from Illinois to be the dean of its business school.

Fans Run Up the Region's Economic Score From Bowl Games

San Diego’s two postseason college football games generated an economic impact to the region of $30.8 million last December, up nearly $2 million from the prior year, according to the San Diego Bowl Game Association, which commissioned a study.

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$6.5M Donation to UCSD Will Fund Eye Research Lab

grateful patient has gifted University of California, San Diego $6.5 million to establish the Richard C. Atkinson Laboratory for Regenerative Ophthalmology at the university’s Shiley Eye Center.

County Unemployment Rate Is Down Slightly in March

San Diego’s unemployment rate fell slightly to 6.9 percent in March from 7 percent in February, as the region gained 12,700 nonfarm jobs, according to the state’s Employment Development Department.

Think Tank Formed to Promote San Diego Craft Beer

A new independent think tank, called the Craft Beer Association of San Diego, has been formed with the goal of raising the national and international profile of the local region’s burgeoning brewing industry.

The Business Calendar for the Week of April 21, 2014

A look at some of the business events happening in the county for the week of April 21, 2014

Dickey’s Barbecue Opens Its First Local Restaurant in San Marcos

Dickey’s Barbecue Pit has opened at 763 Center Drive in San Marcos. It is the first San Diego County location for Dallas-based Dickey’s Barbecue Restaurants Inc.

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Carlsbad Company Participates in White House Conference on Solar Energy

Carlsbad-based Everyday Energy took part in a White House conference on solar energy April 17.

Friday, April 18

SDSU Names New Dean of Business School

San Diego State University has named an academic from Illinois to be the dean of its business school.

Local Company Participates in White House Conference on Solar Energy

Carlsbad-based Everyday Energy took part in a White House conference on solar energy April 17.

Business Calendar for Week of April 21, 2014

Some of the business events scheduled for the week of April 21, 2014, in the county.

New Think Tank Formed to Promote San Diego Craft Beer

A new nonprofit think tank, called the Craft Beer Association of San Diego, has been formed with the goal of raising the national and international profile of the local region’s burgeoning brewing industry.

Bowl Games Pay Off for the Region

San Diego’s two postseason college football games generated an economic impact to the region of $30.8 million last December, up nearly $2 million from the prior year, according to the San Diego Bowl Game Association, which commissioned a study.

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Dickey’s Opens Its First Local Barbecue Restaurant in San Marcos

Dickey’s Barbecue Pit has opened at 763 Center Drive in San Marcos. It is the first San Diego County location for Dallas-based Dickey’s Barbecue Restaurants Inc.

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$6.5M Gift to UCSD Will Go Toward Eye Research Lab

A grateful patient has gifted University of California, San Diego $6.5 million to establish the Richard C. Atkinson Laboratory for Regenerative Ophthalmology at the university’s Shiley Eye Center.

San Diego Unemployment Rate Is Down Slightly in March

San Diego’s unemployment rate fell slightly to 6.9 percent in March from 7 percent in February, as the region gained 12,700 nonfarm jobs, according to the state’s Employment Development Department.

Food Tourism Brings Home the Bacon for Calif.

The restaurant industry has become a significant driver of tourism in San Diego and throughout California.

Local Rehabilitation Effort Aims to Find Beauty Beneath the Blight

Three major community organizations came together recently to announce a much needed rehabilitation effort in City Heights.

The JOBS Act Boosts Biotech Community’s Access to Investment

This month marks the second anniversary of President Barack Obama’s Jumpstart Our Business Startups, or JOBS, Act.

BofI Expects Good Returns From Purchase of H&R Block Bank

BofI Federal Bank is one of the fastest-growing banks in the nation, increasing nearly $700 million in assets — or 24 percent — last year to bring its total assets to more than $3.5 billion.

Mixed-Use Decisions Need to Consider Future Market Demand

Master planners of large, mixed-use communities face a challenge similar to assembling a jigsaw puzzle. They must not only make their projects pencil-out financially in today’s market, but also gauge whether the urban-style elements that consumers want now will still play with prospective homebuyers 10 or 20 years later.

IHive Aims to Take the Stings Out of the Internet of Things

Beehives are synonymous with activity, and the people running downtown San Diego’s CyberHive seem to be making big moves with several new projects.

A ‘Rich History’ Is an Understatement for Bankers Hill Beauties

It must have been exciting to be in San Diego at the turn of the 20th century when there was little more than possibility and the power of ambition. Many of those who succeeded built homes on what is now known as Bankers Hill — a residential area on the hills above downtown, with sweeping views of the bay, the airport, Coronado and Mount Soledad.

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Co. Aims to Break the Mold On Smartphone Customization

TECH: Foneclay Gives User Creative App Making Power

Isaac Eteminan wants Foneclay to be the next big thing in smartphones.

Subsidiary of BioMed to Issue $400M in Notes

BioMed Realty LP, an operating partnership subsidiary of San Diego-based BioMed Realty Trust Inc., plans to do a $400 million offering of senior unsecured notes.

Scripps Advance to Fill Need for Speed in Pharma

BIOTECH: Goal Is to Quickly Get Research To Development Phase

The Scripps Research Institute has formed a new drug discovery company called Scripps Advance to fast-track the translation of early-stage biomedical research into clinical development and, ultimately, commercialization.

Petco’s New HQs’ Best Feature: It’s in the County

RETAIL: Newly Acquired Building to Consolidate Co.’s Local Operations

Petco Animal Supplies Inc. plans to establish a new San Diego headquarters and support center after buying a Rancho Bernardo industrial building for about $33 million.

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No. 2 National Ranking Shows S.D.’s Solar Flair

San Diego Mayor Kevin Faulconer and some local solar energy industry leaders held a news conference to unveil a report that ranks San Diego No. 2 in the nation behind Los Angeles for the amount of solar panels installed and No. 4 for installations on a per-capita basis.

Shawne Merriman Sues Nike, Alleging Trademark Infringement

Sports: Ex-Charger Seeks To Protect Lights Out Brand

Former San Diego Charger linebacker Shawne Merriman filed a lawsuit against Nike Inc., alleging the sports gear and apparel giant infringed on his trademarked Lights Out brand.

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Medical Devices Now a Major Piece of Manufacturing Puzzle

Manufacturing: Local Production Helps in Maintaining Quality Control

Once a major producer of planes, aircraft parts and canned tuna, San Diego’s manufacturing base is far different today with a decided high-tech slant.

Life Sciences See Stock Spotlight Dim as Challenges Take Focus

Biotech: Ups and Downs A Common Reality Among Industry’s Local Public Cos.

Public companies in San Diego’s biotech industry have been on quite the roller coaster, a trend reflected in how that sector is represented in the San Diego Business Journal’s new list of the 50 largest local public companies, ranked by revenue in fiscal 2013.

Retail Opportunities, Local and Abroad, Spur Revenue Growth

Real Estate/retail: REITs Move Up List of Largest Local Public Cos.

San Diego’s PriceSmart Inc. is among several of the region’s large public companies paying close attention to the performance of consumer retail markets.

Olympics Fever Is No Sweat for San Diego

SPORT: Exploratory Group Calmly Makes Case for U.S. Bid

There’s the Final Four, and then there’s the final three.

Covered California Reports 1.4M Enrolled

HEALTH: Signups Surge at End; 88% Eligible for Subsidies

The final surge of Covered California signups ended April 15 with more than 1.4 million enrolled, vastly exceeding initial estimates, despite some confusion in the signup process. However, the number of small businesses enrolled in the exchange’s Small Business Health Options Program, or SHOP, was much lower — about 1,150 signed up, representing about 4,900 employees and their dependents.

Opera Changes Tune on State of Its Finances

ARTS: Some Point to Previous Assurances About Fiscal State

Part of the shock that accompanied the announcement last month that the San Diego Opera will cease to exist after the just completed season stems from the public reports the company put out in recent years that painted a rosier picture of its financial condition than it’s describing today.

Winners & Losers

Tech: Qualcomm Continues to Grow Profitably, While Many Cos. In Sector Lag on the Bottom Line

Fiscal 2013 was not a year to expect a profit from one of the region’s publicly traded technology businesses — unless you held shares in Qualcomm Inc.

Thursday, April 17

Vital Therapies Launches IPO

Vital Therapies Inc. has hit the public markets, but has priced its stock below the expected range, raising gross proceeds of $54 million by offering 4.5 million shares at $12 apiece.

Nordstrom Relocating Its Store Within Westfield UTC

Nordstrom Inc. plans to relocate its full-line department store in University Towne Center to a new space within the Westfield UTC mall, with a new two-level store expected to open in 2017.

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Kyocera Consolidates Some of Its Businesses Into Main Subsidiary

Kyocera Corp., the Kyoto, Japan-based conglomerate that has been in San Diego since 1971, said it consolidated some of its recently acquired businesses into its main subsidiary here, Kyocera America.

Region to Get Some Work on the F-35 Aircraft

Lockheed Martin Corp.’s latest contract on the F-35 Lightning II aircraft will bring work to San Diego.

La Jolla Retail Condos Sold for $2.5 Million

Hanks Group Inc. of Alhambra has purchased four retail condo units in La Jolla for $2.5 million, according to CoStar Group and public data.

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Mermaid Gets a Name From Chicken of the Sea Centennial Celebration

San Diego based Chicken of the Sea, which celebrates its 100th anniversary this year, finally got around to naming that little mermaid on the label. She’s (it’s) now called Catalina.

Upcoming Symposium to Discuss Defense Technology

Defense contractors and U.S. Navy leaders will gather April 22-24 at the Hall of Champions in Balboa Park to talk shop, and talk about technology.

Rubio's to Hold Job Fairs to Fill Numerous Positions

Carlsbad-based Rubio’s Restaurants, now in five states and about 200 stores, said it needs to fill about 3,000 positions as it enters the busy summer season, and is holding job fairs next week to find the right team members.

Wednesday, April 16

BioMed Subsidiary to Issue $400M in Notes

BioMed Realty LP, an operating partnership subsidiary of San Diego-based BioMed Realty Trust Inc., plans to do a $400 million offering of senior unsecured notes.

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Former Chargers Linebacker Goes on Offense, Sues Nike Claiming Trademark Infringement

Former San Diego Charger linebacker Shawne Merriman filed a lawsuit against Nike Inc., alleging the sports-gear giant infringed on his trademarked Lights Out brand.

Nursing Care Facility in El Cajon Sold for $7.5 Million

Rocklin-based Auburn Manor Holding Corp. has purchased Chase Care Center, a skilled-nursing healthcare facility in El Cajon, for $7.5 million, according to CoStar Group and public data.

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Data Services Company Buys Kearny Mesa Office Building for $3.84 Million

Central Data Services Inc. of San Diego has purchased a Kearny Mesa office building, known as Convoy Business Center, for $3.84 million, according to CoStar Group and public data.

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Two Local Companies to Compete for Airfield Work for Navy

The U.S. Navy needs a solid place to land its aircraft, and it has chosen two local contractors to make that possible.

San Diego Startup Week Set for June 17-21

StartUp San Diego has set June 17-21 for its second annual San Diego Startup Week.

Tuesday, April 15

Zogenix Obtains Preliminary Injunction Against Massachusetts’ Ban of Painkiller

Zogenix Inc., the San Diego drugmaker embroiled in controversy over its new opioid painkiller Zohydro ER, finally has a win under its belt — it has successfully blocked an order from Massachusetts Governor Deval Patrick to ban the drug in that state.

Genstar Affiliate Buys Chula Vista Residential Land for $37.1 Million

An affiliate of San Diego-based Genstar Development Co., recorded as GDCI Proctor Valley LP, has purchased 1,140 acres of residential land in Chula Vista for approximately $37.1 million, according to CoStar Group and public data.

Home Sales and Median Price Increase in March

Home sales in San Diego increased in March, and the median price rose 4 percent from February to $427,000, according to Dataquick, the La Jolla real estate research firm.

San Diego Firm Buys Miramar Retail Center for $12.5 Million

HP Investors LLC of San Diego has purchased Miramar Square Shopping Center, in the city’s Miramar neighborhood, for approximately $12.5 million.

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F.A.I.T.H. Resources Merges With Irvine Recruitment Firm

F.A.I.T.H. Resources, recruitment and staffing firm originally formed in San Diego, said it merged with Advantage Placements, an Irvine recruitment firm, and moved its corporate headquarters to Newport Beach.

Three Local Construction Cos. to Compete for Defense Work

Three local companies may have Army construction work in their futures.

Two San Diego Companies Name New CFOs

Two San Diego companies have announced new chief financial officers.

Novatel’s Usage-Based-Insurance Technology to Be Used in Benelux Market

Novatel Wireless Inc.’s technology supporting usage-based insurance, or UBI, will be used by Chipin B.V. in serving the Belgium, Netherlands and Luxemburg markets, the companies announced.

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Monday, April 14

National University to be San Diego Padres Education Partner

The San Diego Padres and National University struck a multiyear partnership that makes the private university the franchise’s exclusive education partner.

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Mayor Faulconer Sets His Priorities With New Budget

Mayor Kevin Faulconer campaigned to make neighborhoods his priority, and his 2014-15 fiscal year budget, which he released April 14, demonstrates that, according to a mayoral staff report.

Drywall Construction Stopped on Downtown Apartment Project

Work on the drywall portion of the $150 million, 45-story Pinnacle Towers apartment project in downtown San Diego has been stopped, after the California Contractors State License Board determined that a subcontractor was not properly licensed in the state.

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Santee Contractor Completes $12 Million Armory at Camp Pendleton

A & D General Contracting Inc. of Santee recently completed a new $12 million armory building at Marine Corps Base Camp Pendleton near Oceanside.

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Local Co. Installing Electric Vehicle Charging Stations at UCSD

Carlsbad-based Alternative Energy Systems Consulting Inc. is installing intelligent electric vehicle charging systems at University of California, San Diego.

Kenco Selects SmartDrive for Fleet Monitoring

San Diego-based SmartDriveSystems’ event recording system will be rolled out across the nationwide fleet operated by logistics provider Kenco, according to an announcement from SmartDrive.

Lakeside Construction Co. to Compete for Navy Contracts in Pacific Northwest

Marathon Construction Co., a small business based in Lakeside, took a step toward receiving U.S. Navy construction contracts for work in the Pacific Northwest.

Harrah’s Project Adds 200 to Staff, Additional 80 Jobs Expected

Harrah’s Resort Southern California said it added 200 jobs with the completion of its ambitious construction project, and is up to 1,600 employees at its hotel and casino.

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Sunday, April 13

U.S. Court of Appeals Rules Against SeaWorld Parent Company

A U.S. appeals court has ruled against the parent company of SeaWorld San Diego, affirming a federal labor agency finding following the 2010 death of a whale trainer at the Florida park operated by SeaWorld Entertainment Inc.

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Pratt & Whitney Considers Possible Closure of Kearny Mesa Plant

Pratt & Whitney AeroPower, part of Connecticut’s United Technologies Corp., told its 535 San Diego employees last week that it’s considering integrating the operations into other Pratt & Whitney units, and may close the Kearny Mesa plant.

BIO's Launches New System to Promote Cos. Connecting at June Convention

The Biotechnology Industry Organization, shortened to BIO, has launched its one-on-one partnering system that will help companies initiate private meetings and gain business contacts at its annual convention, which will be held this June in San Diego.

PriceSmart Reports Q2 Net Income of $28.3 Million

PriceSmart Inc., the San Diego-based operator of club warehouse stores in Latin America and the Caribbean, reported fiscal 2014 second quarter revenue of $674.4 million, compared with $607.4 million for the like quarter of its 2013 fiscal year.

Apartment Complex in Oceanside Sells for $14.2 Million

An investment entity recorded as 42nd Street Apartments LLC has purchased the 88-unit Forest Glen Condominiums in Oceanside for $14.2 million, according to brokerage company Marcus & Millichap Inc., which represented the buyer and seller.

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The Business Calendar for the Week of April 14, 2014

Some of the business events scheduled for the week of April 14, 2014 around the county.

Peregrine Semiconductor Targets China Telecom Market With Microchip

San Diego-based Peregrine Semiconductor Inc. announced on April 9 that it plans to introduce its UltraCMOS Global 1 microchip to the Chinese telecom market.

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Two Rancho Bernardo Retail Buildings Sell for $4.6M

Fairbanks Trail LLC of San Diego has purchased two Rancho Bernardo retail buildings for a total of approximately $4.6 million, according to CoStar Group and public data.

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Moroccan Air Force Training Deal Worth $5 Million for Cubic

Cubic Corp. said on April 11 that it received a contract worth more than $5 million to supply an aircraft training system to the Moroccan air force.

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New Bike Trail Segment Connects With Oceanside Transit Center

Regional officials have completed a new 2,000-foot Oceanside segment of the Coastal Rail Trail, a bikeway that will eventually span 44 miles from Oceanside to San Diego.

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Friday, April 11

Cubic Gets $5M Deal to Supply Moroccan Air Force With Training Equipment

Cubic Corp. said on April 11 that it received a contract worth more than $5 million to supply an aircraft training system to the Moroccan air force.

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Peregrine Semiconductor to Introduce Microchip in China Market

San Diego-based Peregrine Semiconductor Inc. announced on April 9 that it plans to introduce its UltraCMOS Global 1 microchip to the Chinese telecom market.

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BIO Launches System to Connect Companies at June Convention

The Biotechnology Industry Organization, shortened to BIO, has launched its one-on-one partnering system that will help companies initiate private meetings and gain business contacts at its annual convention, which will be held this June in San Diego.

Appeals Court Rules Against SeaWorld Parent Company

A U.S. appeals court has ruled against the parent company of SeaWorld San Diego, affirming a federal labor agency finding following the 2010 death of a whale trainer at the Florida park operated by SeaWorld Entertainment Inc.

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Pratt & Whitney May Close Kearny Mesa Plant

Pratt & Whitney AeroPower, part of Connecticut’s United Technologies Corp., told its 535 San Diego employees last week that it’s considering integrating the operations into other Pratt & Whitney units, and may close the Kearny Mesa plant.

Rancho Bernardo Retail Buildings Sold for $4.6 Million

Fairbanks Trail LLC of San Diego has purchased two Rancho Bernardo retail buildings for a total of approximately $4.6 million, according to CoStar Group and public data.

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Newly Completed Bike Trail Segment Links to Oceanside Transit Center

Regional officials have completed a new 2,000-foot Oceanside segment of the Coastal Rail Trail, a bikeway that will eventually span 44 miles from Oceanside to San Diego.

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PriceSmart Reports Q2 Revenue of $674.4M

PriceSmart Inc., the San Diego-based operator of club warehouse stores in Latin America and the Caribbean, reported fiscal 2014 second quarter revenue of $674.4 million, compared with $607.4 million for the like quarter of its 2013 fiscal year

Oceanside Apartment Complex Sells for $14.2 Million

An investment entity recorded as 42nd Street Apartments LLC has purchased the 88-unit Forest Glen Condominiums in Oceanside for $14.2 million, according to brokerage company Marcus & Millichap Inc., which represented the buyer and seller.

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Nonprofit Partners With Industry to Employ Adults With Disabilities

During a recent visit to Partnerships With Industry, known as PWI, in Santee, I was among a group of companies, community leaders, state agency officials and interested parents to learn more about this remarkable organization.

Executive Profile: Tony Chen

Tony Chen co-founded Osiris Shoes in 1996, along with Tony Magnusson, Brian Reid and Doug Weston.

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Local Sports Business Accelerator Is the Only one in the Nation

SPORTS: Nonprofit Connects Industry Mentors With Qualified Entrepreneurs

When it comes to connecting companies involved in sports and active lifestyle, the San Diego Sports Innovators is the place everybody turns to.

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Survival of the Fit Tests

FITNESS: Sports Cos. Find San Diego Can Be Perfect Proving Grounds

San Diego isn’t just considered the best place to launch a startup nationwide. The growing number of fitness enthusiasts in San Diego has enticed local sports companies to tap into this niche market with nifty gadgets and new programs and products to enhance athletes’ experiences.

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Sheppard Mullin’s 10 New Lawyers Have Something in Common

Sheppard, Mullin, Richter & Hampton LLP pulled off one of San Diego legal community’s largest coups to date, enticing 10 top lawyers from McKenna Long Aldridge LLP to its ranks.

Navy Discovery Could Bring Sea Change to Fueling of Its Fleet

The U.S. Navy claims that it has produced a hydrocarbon fuel made from seawater. Scientists at the U.S. Naval Research Laboratory said they demonstrated the concept in mid-2013, using the fuel to fly a scale model airplane with a stock, two-stroke engine.

SBLF Helping Banks Lend More to Small Business, Report Shows

The Treasury Department released another report on its Small Business Lending Fund program showing that participating banks extended about 56,900 additional small business loans, representing about $12.5 billion in dollars above what the banks lent before accepting the federal funds.

Senomyx’s Stock Gets a Boost from New Deal With PepsiCo

Stock for San Diego flavor maker Senomyx Inc. rose after signing a new deal with PepsiCo Inc. to develop chemicals that will “restore the desired salty taste in products with reduced salt.”

Hotel Makes Improvements to Cater to Tech Toting Visitors

TRAVEL: Manchester Grand Provides Secure Charging, Faster Data

Visitors to the Manchester Grand Hyatt San Diego who rely on mobile devices to make life and work easier and more efficient will find the hotel more oriented toward them following the latest phase of the hotel’s multimillion-dollar upgrade.

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Incubator Gains Momentum, ‘Rock Stars’ Through Its Successes

Biotech: Janssen Labs Is Selective, Not Controlling Of Its Life Science Startups

A Torrey Pines-based life sciences incubator that began two years ago as an “experiment” by pharmaceutical and consumer product giant Johnson & Johnson has today shown more momentum than anyone back then would have imagined.

Suites at Qualcomm Upgraded in Effort to Lure Business Clients

Sports: Chargers Seek To Keep Pace With Other Stadiums’ Luxury Amenities

As the San Diego Chargers hope to upgrade their roster during next month’s NFL draft to be more competitive on the field, the team is upgrading its luxury suites at Qualcomm Stadium to be more competitive generating revenue.

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Parallel Is Pursuing Office Property Bargains in Secondary Markets

Real Estate: Big-Ticket Sales Show Improving Climate

San Diego’s Parallel Capital Partners Inc. has recently picked up some trophy office properties at what it considers bargain prices by historical standards. And it’s had plenty of company in the local market so far in 2014.

Business Calendar for Week of April 14, 2014

Some of the business events happening in the county for the week of April 14, 2014.

Alumnify Creates Collegial Connections for Alumni and Schools

TECH: Business Model Includes Annual Fees From Schools, Donation Feature

College taught A.J. Agrawal a fair amount, but the young tech CEO said he got quite an education after graduation, when he had to cold-call hundreds of colleges.

Group Gathers Forces to Help Software Startups

TECH: Investors Get Chance for Informal Networking, Discussion

The leaders behind a new software-centric forum called Swarm, which seeks to bring local entrepreneurs and investors together, hope the event can reverse a disturbing trend they’re seeing.

Connect’s New Leader Eager to Have an Impact

Innovation: McKee Brings Experience in Biotech, Finance to Nonprofit Role

Greg McKee started his career as an investment banker and moved on to a series of executive jobs in biotechnology, before returning to banking.

Aircraft Parts Maker Branching Into Repair

Manufacturing: QCMI Lands Lucrative Deal To Rebuild Engine Parts

A Santee machine shop that produces complex parts for aircraft and gas turbines is diversifying by going into repair.

Panel Spotlights Corporate-based Venture Funding

Increasingly, the corporate world is moving in to reflate the funding ranks left behind as the number of venture capital firms continue to shrink.

DivX’s New Owners Seek New Customers

TECH: Co. Targets China, Seeks to Increase Its Patents

Change seems to be a constant at DivX LLC, which got new owners this month.

Genomatica Part of Biorenewables Pivot

Biotech: Lack of Market For Biofuels Spurs Flexibility

Biofuels don’t hold the same cachet or glamour they once had, but companies like San Diego’s Genomatica Inc. are showing that the market opportunity is still there for biorenewable products. In particular, specialty chemicals and nutritional supplements are proving to be economically viable industries in the sustainability space.

E-Cigarettes Are Not Really a Burning Issue

LAW: Cities Move on Bans; Businesses’ Policies Vary

San Diego County and several cities in the region have moved to add electronic cigarettes to policies banning smoking in public places. But the business impact — if any — has yet to materialize.

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Turn of the Screw

Maritime: Marine Group Boat Works Is Thriving, But Uncertainty of Place Looms

Todd Roberts sits in the pilot house of a 114-foot U.S. Navy boat that his workers just built, and mentally charts his course with a mixture of excitement and apprehension.

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Thursday, April 10

Petco Plans New Headquarters Site in Rancho Bernardo

Petco Animal Supplies Inc. plans to establish a new headquarters and support center in Rancho Bernardo, as the San Diego-based retailer consolidates operations currently located at sites in Miramar and Scripps Ranch.

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BofI Federal to Buy H&R Block Bank

BofI Federal Bank, formerly Bank of Internet USA, said it’s agreed to buy H&R Block’s bank business for an undisclosed price.

NuVasive Ordered to Pay $30M in Trademark Case

A jury has ordered medical device maker NuVasive Inc. to pay $30 million to Ventura-based NeuroVision Medical Products Inc. for infringing on the trademark “NeuroVision.”

Tech and Biotech Stocks Slump

Biotech and tech stocks have been in a slump for the past three weeks, evidenced in part by the 3.1 percent drop in the Nasdaq Composite — the worst one day percentage decline, according to MarketWatch, since November 2011.

EcoATM Names Stipp President

EcoATM, the maker of automated kiosks for trading in unwanted cellphones which was acquired by Outerwall for $350 million last year, named Maria Stipp as new president.

El Cajon Store Will be Ninth Locally for Grocery Outlet

Discount retailer Grocery Outlet plans an April 17 opening for its new store at 350 N. 2nd Street in El Cajon. It will be the ninth San Diego County location for the Berkeley-based company.

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General Atomics ASI Gets $141.4M Air Force Deal

General Atomics Aeronautical Systems Inc. of Poway received a four-year, $141.4 million U.S. Air Force delivery order for work on the Block 50 ground control station for unmanned aircraft.

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Former Exec Pleads Guilty to Bilking Investors, Tax Evasion

Sven Erik Ulsteen, pleaded guilty to using forged and counterfeit securities to fleece more than $2 million from California investors, according to the U.S. Attorney’s Office.

Wednesday, April 9

California Legislative Panel Tables Bill Banning Orca Shows

A state legislative committee has tabled a bill that would have banned the use of performing orcas at SeaWorld San Diego.

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Airport Green Build Project Earns LEED Platinum Status

The newly expanded terminal and related upgrades at San Diego International Airport, completed last year in the $907 million Green Build project, have received Platinum certification in the U.S. Green Building Council’s Leadership in Energy and Environmental Design (LEED) program.

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New PepsiCo Deal Boosts Senomyx Inc.’s Stock

Stock for San Diego flavor maker Senomyx Inc. rose after the company signed a new deal with PepsiCo to develop chemicals that will “restore the desired salty taste in products with reduced salt.”

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'Best of the Bar' Nominations Being Accepted

The San Diego Business Journal has opened nominations for its inaugural supplement — Best of the Bar 2014 — which will showcase the top San Diego attorneys in private practice who are chosen by their peers.

FDA Puts Clinical Hold on Halozyme’s Pancreatic Cancer Treatment Trial

The Food and Drug Administration has halted the study of Halozyme Therapeutics Inc.’s pancreatic cancer treatment trial, just few days after the company voluntary stopped patient enrollment in the drug’s clinical trials.

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La Jolla Retail Building Housing CVS Sells for $8 Million

Investor QWN Ltd. of Hong Kong has purchased the leasehold on a La Jolla retail building housing CVS Pharmacy for approximately $8 million, according to brokerage company Lee & Associates, which represented the seller.

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WD-40 Reports 9% Increase in Net Sales for Q2

WD-40 Co., the San Diego-based maker of household products, reported fiscal 2014 second quarter net sales of $94.2 million, up 9 percent from the like quarter of the previous year.

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Five San Diego Construction Companies to Compete for Navy Task Orders

Five San Diego County construction companies stand to collectively gain up to $99 million in contracts over five years, following a decision by the U.S. Navy’s facilities command.

Tuesday, April 8

Palomar Health Facing Possible $250,000 Fine for Data Breach

The California Department of Public Health could fine Palomar Health up to $250,000 in connection with the theft of flash drives containing patient data.

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San Diego City Council Appoints Member to Fill Mayor's Vacated Seat

The San Diego City Council appointed a longtime lifeguard to complete the term of former council member and now Mayor Kevin Faulconer.

Qualcomm Boosts Dividend 20 Percent

Semiconductor maker Qualcomm Inc. authorized an increased dividend as its stock flourishes.

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Sorrento Mesa Office Complex Sold for $9.4 Million

A Boston company has bought an office complex in Sorrento Mesa.

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San Diego Apartment Complexes Included in $2.6 Billion, National Portfolio Sale

Two San Diego County properties are part of a $2.6 billion, 51-property sale of apartment and industrial buildings.

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Airgain on the Move

Antenna technology firm Airgain Inc. has traded its North County space for a more centrally located headquarters.

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San Diego Housing Prices Increase in March

The median price of a single-family house in San Diego rose in March.

Monday, April 7

Barrio Logan Zoning Issue to Remain on June Ballot After Lawsuit Fails

The legal effort to take a disputed Barrio Logan zoning plan off of the June ballot failed late last week, so voters living in San Diego city limits will still be asked to make a decision about the neighborhood’s future.

Lumena Files for $75 Million IPO

Lumena Pharmaceuticals Inc. has filed for a $75 million initial public offering, just a few weeks after it closed a $45 million Series B financing round.

Kaiser Names Executive Director for San Diego Region

Kaiser Permanente has named Jane Finley to the position of senior vice president and executive director for the San Diego area.

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Zogenix Files Lawsuit to Block Mass. Governor’s Ban of Painkiller

Zogenix Inc. filed a lawsuit in the U.S. District Court in Massachusetts, the company said, seeking a temporary restraining order barring actions announced by Gov. Deval Patrick — namely, a prohibition against prescribing and dispensing Zohydro ER, Zogenix’s painkiller that was approved last year by the Food and Drug Administration.

Vital Therapies Resets Price of Planned IPO

Vital Therapies Inc. lowered the proposed size of its planned initial public offering, according to Renaissance Capital. Vital Therapies now plans to sell 4.5 million shares at $13 to $15 per share, expecting to raise about $63 million.

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Qualcomm Introduces New Snapdragon Prcoessors

Qualcomm Inc. unveiled new high-end processors for smartphones and tablets on April 7.

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Brewery Redefines 'Beer Fund'

Santee-based Twisted Manzanita Ales and Spirits, which celebrates its fourth anniversary this year, is seeking investors to help fund a planned expansion of its distribution both domestically and internationally.

Sunday, April 6

Alexandria Buys Sorrento Valley Industrial Building Portfolio for $12.3 Million

Alexandria Real Estate Equities Inc. of Pasadena has purchased a three-building industrial portfolio in Sorrento Valley for approximately $12.3 million, according to CoStar Group and public data.

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Encore Capital Completes Its Acquisition of Contolling Stake in Grove Capital

Encore Capital Group Inc., the San Diego buyer and collector of charged off credit card debt, said it closed its acquisition of a controlling stake on Grove Capital Management, a British firm that is focused on insolvencies in the United Kingdom and Spanish assets. Encore didn’t say what it paid for the company.

Lincoln Property Buys a Carlsbad Industrial Building for $9.5 Million

Dallas-based Lincoln Property Co. has purchased a multitenant industrial building in Carlsbad for $9.5 million.

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West Partners Invests in Carlsbad Tech Company NoteVault

West Partners said it recently closed an investment in NoteVault Inc., a Carlsbad-based technology company. The amount of the investment was not disclosed.

Mind Solutions Inc. Receives $1M Funding Commitment

Mind Solutions Inc., a San Diego company developing a headset that can operate smartphones and tablets through "mind power," said it received a $1 million funding commitment from an unnamed source, allowing it to further the development of its proprietary mobile headset.

The Business Calendar for the Week of April 7, 2014

Some of the business events around San Diego County scheduled for the week of April 7, 2014.

Seragon Pharmaceuticals Inc. Appoints Acting Chief Medical Officer

The newly formed San Diego cancer drugmaker Seragon Pharmaceuticals Inc. has appointed Debasish Roychowdhury as its new acting chief medical officer.

Biotech Startup Scores a Win at UCSD's TriNet Challenge

A startup company at work on a unique medical device — a photosynthetic scaffold technology that helps restore damaged or diseased tissue — won a university business competition and $6,000.

Friday, April 4

Superheroes Large and Small Raise Tons of Funds for Autism Cause

Local superheroes gathered in Balboa Park recently to make a big difference for local children diagnosed with autism. The San Diego-based nonprofit National Foundation for Autism Research, or NFAR, hosted its 10th annual San Diego Race for Autism with record attendance of about 7,000 families, runners, teachers and professionals. All of the race proceeds stay in San Diego, funding local programs, autism resources, research and classrooms.

Will Proximity Beacons Breed Contempt From Saturated Users?

Proximity beacon technology, such as that produced by Qualcomm Inc., is ready for prime time.

SBA Rule Changes Open Eligibility Door Wider for Borrowers

The Small Business Administration changed some rules covering its two primary loan programs in an effort to broaden the eligibility of borrowers and extend credit to folks who had been deemed to have too much cash to lend to.

Executive profile: Peter Zien

AleSmith Brewing Co. owner Peter Zien bought the brewery in 2002 and has spent the last 12 years growing an internationally recognized brand dedicated to hand-forged ales and craftsmanship. Zien began as a homebrewer.

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TAPPING THE TALENT

ECONOMY: Programs Aim to Staff Region’s Craft Brewing

Craft beer is brewing up significant economic benefits for San Diego County, not to mention national buzz created by a growing array of local brands now being sold at stores, bars and restaurants across the country.

Home of the month: The Crescent

The “Crescent” is a home designed by world famous San Diego-based architect Wally Cunningham.

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The Leucadia Vibe Is Creative Enclave’s Connection to Its Roots

The small coastal community of Leucadia has a particular idiosyncratic vibe, and the real estate found within its original boundaries reflects a spirit of individuality and creativity different from most other California beach towns. It’s different even from the four other areas — Old Encinitas, New Encinitas, Olivenhain and Cardiff-by-the-Sea — that join it as part of the city of Encinitas.

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Craft Beer Wave Is Headed for New Eatery at Belmont Park

These days a San Diego restaurant opening or menu update is hardly complete without craft beer somewhere in the mix, and local brews will soon play a big role in the ongoing renovation of the iconic Belmont Park in Mission Beach.

Forget the Box, Genomic Advances Open Pandora Herself

In this brave new world of genome sequencing, where some San Diego companies are venturing, the promise of society-changing science comes with undeniable ethical issues.

High-Rises Dominate Downtown Office Space Leasing for 2013

Real Estate: Vacancy Rate of ‘Skyline 20’ Up, But Below Downtown Overall

Downtown San Diego’s 20 largest high-rises accounted for 70 percent of all signed office lease deals in that neighborhood during the past year, according to brokerage services company JLL.

New World of Mobile Advertising Spurs Business Unit Creation

Marketing: Digitaria Hoping Big on Mars Will Make Big Impact on Clients

Digitaria, a digital marketing and advertising agency based in San Diego’s East Village, is developing a business unit that will specialize in software applications for mobile devices.

Cell Towers Are Technological ‘Tenants’ With Deep Pockets

PROPERTY: Experts Can Help in Negotiating Equitable Placement Deals

The continuing push among major wireless carriers to boost local infrastructure is bringing opportunities and challenges for commercial property owners who lease space — or may be considering leasing space — to the carriers for their towers.

Zogenix Getting a Heaping Dose of Criticism for Zohydro

PHARMA: Stock Takes Hit, But Co. Defends Painkiller

Zogenix Inc. is in damage control mode as it faces a maelstrom of criticism for its newly launched narcotic painkiller.

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Co. Gives Financial Professionals A Clear Picture of Clients’ Needs

SOFTWARE: Marketing Videos and Analytics Used To Determine Best Prospects

Kim Folsom has blended two areas she knows well — video marketing technology and financial education — to create a software platform for helping financial professionals gain small-business clients.

Investor Group Seeking 2 Novatel Board Seats

TECH: Concerns Over Shareholder Value Said To Be Driving Campaign

Novatel Wireless Inc., a San Diego maker of wireless modems and other communication components, was notified by a shareholder group that it’s unhappy with the way the company is managed and wants two seats on its board of directors, setting up a possible proxy fight.

Board Votes to Postpone Planned Opera Closure

ARTS: Additional $10M Needed for 2015 Season Productions, CEO Says

Apparently the fat lady hasn’t sung yet. The San Diego Opera Association, the nonprofit that has been producing first-class operas for nearly a half century, voted to postpone an earlier decision to shut down the organization because of financial constraints.

They’re Back: 33 Million Tourists Visit S.D. in 2013

The number of visitors to this region surpassed 33 million in 2103, the San Diego Tourism Authority reported, reversing a downward trend over the past three years due to the recession.

LPL Growth Creates Jobs, Need for Space

Finance: Co. Builds Tower Aimed at Motivating Workforce

LPL Financial LLC’s new 13-story office building in University City is a tangible symbol of the company’s overall growth as well as a strategy to foster its people in San Diego.

Cohn’s Main Course Seems to Be Expansion

DINING: Group Hits the Spot With Multiple Locations, Menus

San Diego’s growing reputation as a foodie paradise is also helping to feed the expansion appetites of locally based Cohn Restaurant Group.

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Fund Aims to Connect S.D. Biotech to China

Venture Capital: China’s Money, Manufacturing are Key

Lauded San Diego philanthropist Malin Burnham has teamed with Tom Gephart, an old-school venture capitalist, to launch a $200 million “Cross-Border Innovation Fund,” aiming to finance 10 to 20 startups with money largely from China.

Prima Ushers In a Home Cinema First

Entertainment: System Securely Delivers Debuting Films

The first company to deliver movies to home theaters in a high-quality format on the same night they premiere in neighborhood multiplexes isn’t in Los Angeles; it’s in Carlsbad.

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OKAY IN OTAY

PROPERTY: Updated Blueprint for Otay Mesa Gives Developers Direction

Businesses like locally based developer Murphy Development Co. are lauding a recent move by the city of San Diego to clarify the future of what gets built in Otay Mesa after nearly 13 years of debate over the neighborhood’s future.

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Mind Solutions Receives $1 Million Funding Commitment

Mind Solutions Inc., a San Diego company developing a headset that can operate smartphones and tablets through "mind power," said it received a $1 million funding commitment from an unnamed source, allowing it to further the development of its proprietary mobile headset.

Lincoln Property Co. Buys Carlsbad Industrial Building for $9.5 Million

Dallas-based Lincoln Property Co. has purchased a multi-tenant industrial building in Carlsbad for $9.5 million.

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West Partners Invests in Carlsbad Tech Company

West Partners said it recently closed an investment in NoteVault Inc., a Carlsbad-based technology company. The amount of the investment was not disclosed.

Encore Capital Closes Acquisition of Grove

Encore Capital Group Inc., the San Diego buyer and collector of charged-off credit card debt, said it closed its acquisition of a controlling stake on Grove Capital Management, a British firm that is focused on insolvencies in the United Kingdom and Spanish assets.

Alexandria Buys Sorrento Valley Industrial Buildings for $12.3 Million

Alexandria Real Estate Equities Inc. of Pasadena has purchased a three-building industrial portfolio in SorrentoValley for approximately $12.3 million, according to CoStar Group and public data.

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Seragon Pharmaceuticals Appoints Acting Chief Medical Officer

The newly formed San Diego cancer drugmaker Seragon Pharmaceuticals Inc. has appointed Debasish Roychowdhury as its new acting chief medical officer.

Biotech Startup Gets a Win at UCSD's TriNet Challenge

A startup company at work on a unique medical device — a photosynthetic scaffold technology that helps restore damaged or diseased tissue — won a university business competition and $6,000.

Business Calendar for Week of April 7, 2014

Some of the business events happening around the county for the week of April 7, 2014.

Thursday, April 3

Nine Local Apartment Properties Part of $4.1 Billion Multistate Acquisition

Essex Property Trust Inc. of Palo Alto has acquired 73 apartment properties in three states, including nine in San Diego and Chula Vista, for approximately $4.1 billion, according to CoStar Group and public data.

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Parallel Capital Buys Long Beach Office Tower for $101.7 Million

San Diego-based Parallel Capital Partners Inc. has purchased Shoreline Square, a 20-story office tower in Long Beach, for $101.7 million.

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Cytori Therapeutics Announces Change in Leadership

Cytori Therapeutics named Marc Hedrick to the position of CEO, after announcing the retirement of Christopher Calhoun from that position.

Two J. Craig Venter Biotech Companies Expanding Their Footprint in La Jolla

Two companies founded by genomics pioneer J. Craig Venter are expanding their real estate footprint in La Jolla, leasing additional space from BioMed Realty Trust Inc.

San Diego-based TVC Capital Invests Additional $2.5M in Software Co.

San Diego-based TVC Capital LLC has invested an additional $2.5 million in Denver software maker Levels Beyond, the companies said on April 3.

Fresh Healthy Vending Reports Sales Bookings for 187 Machines at Q3

Fresh Healthy Vending International Inc., a San Diego franchisor of vending machines filled with healthy snacks such as organic coffees and health bars, said it finished its fiscal third quarter ended in March with sales bookings for 187 machines expected to generate $1.87 million in future revenue.

Wednesday, April 2

Emmes Buys Two Downtown Office Towers for $154.9 Million

New York-based Emmes Asset Management Co. LLC has purchased two downtown San Diego office towers for a total of $154.9 million, according to brokerage company JLL, which represented the seller.

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Northrop Grumman Gets $43.8M Navy Deal for Unmanned Helicopters

The U.S. Navy said that it awarded a $43.8 million contract to Northrop Grumman Corp. for several unmanned helicopters and one ground control station.

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Vistage Survey Finds Firms Planning to Hire

Fifty-eight percent of businesses surveyed for the first-quarter Vistage CEO Confidence Index plan to hire in the year ahead.

Carlsbad Firm Buys Office, Retail Properties for $16.4 Million

Investment firm Capstone Advisors of Carlsbad has purchased a La Jolla office building and a retail center in San Diego’s Morena neighborhood, for a total of $16.4 million.

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Harrah’s Resort Southern California to Open New Hotel April 4

Harrah’s Resort Southern California said it will formally open its new, 21-story hotel tower on Friday, April 4.

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LPL Celebrates New Digs, 'the Largest Net-Zero Energy' Commercial Office in U.S.

LPL Financial LLC, the independent broker-dealer that has about 2,000 employees here, celebrated the opening of its 13-floor, new office tower in the University Towne Center neighborhood April 2.

Tuesday, April 1

Pacific Imperial Railroad Enters Strategic Agreement With Diamond, to Raise Up to $150M

Pacific Imperial Railroad Inc., the San Diego company leasing the San Diego and Arizona Railroad that runs from San Diego into Baja Norte and back to the United States at El Centro, said it entered into a strategic advisory agreement with Diamond Capital Advisors, LLC in connection with raising up to $150 million.

Realty Income Stock Offering Raises $528.5 Million

Realty Income Corp. (NYSE: O) has closed on a public stock offering that raised approximately $528.5 million in net proceeds, after underwriters exercised options to purchase an additional 1.8 million shares, company officials said.

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Sorrento Therapeutics Creates Subsidiary to Focus on Animal Treatments

Sorrento Therapeutics Inc. (Nasdaq: SRNE), a maker of cancer and pain medications, has launched a new subsidiary called Ark Animal Therapeutics.

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Opera's Death Scene Takes a Turn as Board Votes to Postpone Closure

Apparently the fat lady hasn’t sung yet.

Space Micro Doubling the Size of Its Design, Manufacturing Quarters

Space Micro Inc., which makes a variety of radiation-hardened electronics for satellites, said that it signed a five-year lease to expand its Mira Mesa facility.

EDF Renewable Places Order for 194 Megawatts of Wind Turbine Generators

San Diego-based EDF Renewable Energy recently placed an order with Vestas for 194 megawatts of wind-powered generators. Vestas is a Danish manufacturer, seller, installer and servicer of wind turbines.

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Qualcomm’s Sale of a Joint Venture Stake Reportedly Approved By Regulators in India

Telecommunications regulators in India approved Qualcomm Inc.’s sale of its stake in a wireless joint venture to Bharti Airtel Ltd., the Economic Times of India reported March 29.

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Miramar Industrial Buildings Sold for $6.5 Million

PB Miramar Distributions LLC of Commerce has purchased a three-building industrial property in Miramar for $6.5 million, according to CoStar Group and public data.

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Medical Marijuana Inc. Relocates to Poway Complex

Medical Marijuana Inc., having outgrown its San Diego headquarters, is relocating to a multibuilding campus in Poway.