Stories for December 2014

Wednesday, December 31

Life Sciences Are Taking Lion’s Share of Venture Capital

The life science industry is leading the venture capital race in San Diego — and winning by a huge margin. The sector attracted nearly four times the investment capital in the third quarter of 2014 as the software industry, which ranked second.

S.D. Region Draws a Talent Pool Deep With Millennials

WORKFORCE: Educated Workers Attract Industries

Tens of thousands of well-educated millennials flocked to the San Diego metropolitan area over the last decade, a migration local experts say significantly boosts the local talent pool and the region’s competitiveness.

Budget Deal Brings Welcome Clarity to Defense Industry

DEFENSE: Some Seek to Sideline Any Sequestration

Just in time for the holidays, the federal government gave Brad Antle and his defense contracting peers a gift they had hoped for: visibility to the road ahead.

Manufacturing Finds More Firm Footing Across the County

PRODUCTION: Region Sees Gains in Variety of Sectors and Specialties

Nassco, the San Diego shipbuilding unit of General Dynamics, held a steel-cutting ceremony last month marking the beginning of work on the second of five oil tankers it is building.

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Opportunity, Innovation and Competition Grow In Space Sector

TECH: Rule Change Should Open Up New Foreign Markets

A federal government flush with money, pushing ahead in the space race, ever eager to fund research and development.

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Historic Highs Put Tourism on Track

Tourism: Convention Center Still a Concern in Otherwise Bright Picture

San Diego’s tourism industry finished 2014 on historic high notes in the areas of local visitor counts, hotel stays and passengers making use of San Diego International Airport.

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High-Tech, Health Care Fuel Local Job Growth

economy: Some Sectors Stronger Than Others

Now in its sixth year, the economic recovery in San Diego appears to be picking up steam — finally. But as everyone knows, this recovery has been one of the slowest in history, and not all are enjoying the gains.

The Local Rumor Mill Is Working OT

The New Year arrives but three rumors refuse to be left behind. Qualcomm is planning its exit strategy:

State Filing Shows Qualcomm Layoffs Effective Feb. 11

The state of California recently offered some more color on Qualcomm Inc.’s upcoming layoffs.

Navy Awards IT Contract to Lockheed Martin

The U.S. Navy announced on Dec. 30 that it awarded Lockheed Martin Corp. a contract to provide information technology for the P-8A Poseidon aircraft. Some 16 percent of the work will be conducted in San Diego.

Kaiser Mental Health Clinicians to Strike Over Staffing Issues

Kaiser Permanente’s 2,600 California mental health clinicians — psychologists, therapists and social workers represented by the National Union of Healthcare Workers (NUHW) — will launch a statewide strike on Monday, Jan. 12, to protest Kaiser’s alleged failure to provide its patients with timely, quality mental health care, according to a recent press release issued by the NUHW.

Kearny Mesa Industrial Property Sells for $3.8 Million

Charter Industrial Supply Inc. of San Diego has purchased a Kearny Mesa industrial building for $3.8 million, according to CoStar Group and public data.

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Turtle Beach Corp. to Save $400,000 Annually With Loan Amendment

Turtle Beach Corp., a San Diego designer and marketer of audio products such as headsets used with video games, said it entered into an amendment of its loan agreement with the Bank of America that will result in the company saving about $400,000 annually.

Housing Prices Up 4.7 Percent From October 2013 to October 2014

An index measuring housing prices nationally showed San Diego’s prices increased 4.7 percent over a 12-month period from October 2013 to October 2014, or slightly better than a composite index for the 20 largest cities, which finished up 4.5 percent over the same period.

Broken Yolk Café to Open 10th Local Restaurant in Del Mar

San Diego-based Broken Yolk Café has been signed as the newest tenant at the Beachside Del Mar retail center in Del Mar, according to the property’s owner, Donahue Schriber of Costa Mesa.

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Hera Therapeutics Raises $1.7 Million in Equity Financing

Hera Therapeutics Inc., a biotech startup operating in the Janssen Labs incubator, has raised $1.7 million in equity financing from 19 investors, according to a Dec. 23 filing with the U.S. Securities and Exchange Commission.

Tuesday, December 30

Kratos Defense Receives Three Satellite Contracts Totaling $40 Million

Kratos Defense & Security Solutions Inc. said on Dec. 30 that it recently received three satellite communications contracts collectively worth $40 million. The company did not name its customers.

Defense Contractor Chooses Vanguard to Make Reflector Antennas

San Diego-based Vanguard Space Technologies Inc. said on Dec. 29 that Harris Corp., the $5 billion Florida defense contractor, has selected it to produce satellite antenna reflectors. Financial terms of the deal were not disclosed.

Billionaire Soon-Shiong Invests $48M in Conkwest Inc.

For the second time this month, Dr. Patrick Soon-Shiong, a biomedical entrepreneur Forbes says is worth $13 billion, has invested in a San Diego biotech company.

Avacen Inc. Launches $2 Million Crowdfunding Campaign

Avacen Inc. announced that it has launched a $2 million crowdfunding campaign to support the possible expanded use of its flagship product, the Avacen 100.

Convention Center Forecasts $1 Billion Impact from 2015 Events

San Diego Convention Center operators are projecting $1 billion in regional economic impact from 107 events scheduled to take place at the center during 2015.

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Local Firm Acquires Colorado, Oregon Retail Centers for $17 Million

A private equity fund led by an affiliate of San Diego-based Christopher Weil & Co. Inc. has purchased four retail strip centers and a land parcel in Colorado and Oregon, for a total of $17 million.

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Monday, December 29

China Reportedly Wrapping Up Qualcomm Investigation; Hefty Fines Expected

The Chinese government is close to settling its antitrust investigation with Qualcomm Inc., according to the Reuters news service, citing a Dec. 26 statement to that effect from China’s National Development and Reform Commission.

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AltheaDx Planning Potential $69 Million IPO

San Diego-based AltheaDx Inc., which uses diagnostic tests and bioinformatics to help doctors identify the personalized drugs based on a patient’s genetic make-up, plans to raise as much as $69 million in an initial public offering.

County Contracts for Future Construction Up 16 Percent

San Diego County’s contracts for future construction rose 16 percent from the year-earlier period in the first 11 months of 2014, topping $3.48 billion, according to the latest figures from Dodge Data & Analytics, formerly known as McGraw-Hill Construction.

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Frito-Lay Distribution Building Sold for $22.2 Million

BLT Kearny Mesa LLC of Oxnard has purchased a San Diego distribution building housing snack-food maker Frito-Lay North America Inc. for approximately $22.2 million, according to CoStar Group and public data.

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Device-Maker BeneChill Inc. Seeks to Raise $14.6 Million

BeneChill Inc., a startup established in San Diego eight years ago to develop a rapid-chilling technology to treat patients suffering from heart attacks and brain injuries, intends to raise more than $14.6 million through an initial public offering.

San Diego Private Bank Announces Completion of Acquisition

San Diego Private Bank announced Dec. 26 that it completed the acquisition of approximately $50 million in loans and the assumption of $8 million in deposits from First Security Business Bank. The deal was announced in October.

Cubic, Kratos Secure Air Force Contracts

The U.S. Air Force announced contracts for two San Diego companies on Dec. 29. Under the deals, Cubic Corp. will work stateside to support air force training in Saudi Arabia, while Kratos Defense & Security Solutions Inc. will concentrate on satellite communications work in Colorado.

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Sunday, December 28

The Business Calendar for the Week of December 29, 2014

Some of the upcoming business events planned for the county.

Wednesday, December 24

Kratos Receives $13 Million Contract Modification from Navy

Kratos Defense & Security Solutions Inc. said on Dec. 23 that it received a contract modification worth $13 million to build helicopter simulators for the U.S. Navy.

Encinitas Motel Property Sold for $5.1 Million

Locally based Encinitas Hospitality LLC has purchased The Ocean Inn, a 52-room motel in Encinitas, for $5.1 million, according to CoStar Group and public data.

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Target Promises No Starbucks at Upcoming South Park Store

Responding to concerns among residents about aesthetics and potential harm to local businesses, Target Corp. officials said the retailer’s upcoming TargetExpress store in San Diego’s South Park neighborhood will not have a Starbucks Coffee café or kiosk.

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BofI Federal Bank Enters Into Purchase Agreement

BofI Federal Bank, San Diego’s second-largest commercial bank, said it entered into a purchase agreement with Union Federal Savings Bank, based in Rhode Island, and its parent company, First Marblehead Corp., for about $125 million of deposits.

Sphere 3D Corp. Enters Agreement With Microsoft

Sphere 3D Corp., which completed its acquisition of San Diego’s Overland Storage earlier this month, said it entered into a multi-year agreement with Microsoft Corp. allowing the pre-installation of Windows embedded server software in appliances using Sphere 3D’s Glassware 2.0 virtualization technology.

City College Opens $94.6 Million Arts, Business Complex

San Diego City College recently marked the opening of a new two-building, $94.6 million complex housing the college’s arts, humanities and business programs in the downtown area.

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Terramar Buys Safeway Retail Center Assets for $830 Million

Carlsbad-headquartered Terramar Retail Centers LLC has purchased the shopping center assets of Property Development Centers LLC, a division of Safeway Inc., for approximately $830 million.

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Tuesday, December 23

ResMed Wins Patent Infringement Case Against Chinese Firm

Medical device company ResMed announced a victory in a patent infringement action against Chinese medical device manufacturer BMC Medical Co. Ltd.

Port of San Diego Hires Search Firm to Recruit CEO Candidates

The Port of San Diego said it hired New York executive search firm Boyden to recruit and screen candidates for the agency’s vacant president/chief executive officer position.

Kratos Receives $72.3 Million Contract From Air Force

Kratos Defense & Security Solutions Inc. said on Dec. 22 that its Composite Engineering Inc. subsidiary received a $72.3 million award to supply target drones and associated support to the U.S. Air Force.

General Atomics Affiliate Awarded $375.2 Million Contract

The U.S. Air Force said on Dec. 23 that it awarded General Atomics Aeronautical Systems Inc. a $375.2 million contract for logistical support for its unmanned Predator and Reaper aircraft. Work will be performed in Poway and extend through the end of 2015.

Three Educators to Serve on Workforce Task Force

Sunita V. Cooke, superintendent/president of MiraCosta College in Oceanside, has been named to lead a 24-member Community Colleges task force. Members are charged with developing policies to prepare more students for existing high-value jobs and to promote job creation with workforce training that sparks small business development and lures out-of-state business investment.

AMN Healthcare Acquires Nebraska Company

AMN Healthcare Services Inc., the San Diego-based medical staffing firm, said it acquired Avantas, an Omaha, Neb. firm that provides clinical management services, for a price that could reach $25 million.

Monday, December 22

SAIC Founder J. Robert Beyster Dies at Age 90

J. Robert Beyster, who started a small defense contracting business in a La Jolla building shared with a ballet studio and built that business into a Fortune 500 company, died of natural causes at his home in La Jolla early Dec. 22. He was 90 years old.

West Partners Completes Follow-On Investment in NoteVault

West Partners, the investment arm of the Gary & Mary West Family Office, completed a follow-on investment in NoteVault Inc., a San Diego provider of voice-to-text-based mobile reporting solutions for the engineering and construction industry.

Ben Alvarado Named Regional President of Wells Fargo's SoCal Region

Wells Fargo & Co. said it named Ben Alvarado as regional president of the bank’s Southern California region, serving customers in San Diego, Orange and Imperial counties.

Tapestry Solutions Receives $48.4 Million Contract

The U.S. Air Force announced that Tapestry Solutions Inc., the San Diego software maker, received a $48.4 million contract for Global Decision Support System application support services.

Bay Park Apartment Property Sold for $2.36 Million

Petropoulos Living Trust of Danville, Calif., has acquired the 11-unit Bay View Apartments, in San Diego’s Bay Park neighborhood, for $2.36 million, according to brokerage company Marcus & Millichap Inc., which represented the buyer and seller.

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UTC Medical Office Complex Sells for $72 Million

Polidev Investments Inc. of San Francisco has purchased Genesee Plaza, a two-building medical office complex in San Diego’s University Towne Center neighborhood, for approximately $72 million, according to CoStar Group and public data.

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Sunday, December 21

Nassco Awarded $498.1M Contract to Build Mobile Landing Platform Ship

The U.S. Navy awarded General Dynamics Nassco a $498.1 million contract modification to build a fourth Mobile Landing Platform ship of the USNS Montford Point class.

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25 Local Supermarkets Among 146 Being Acquired by Haggen

Pacific Northwest grocery chain Haggen Inc. is acquiring 146 stores in five states, including 25 in San Diego County, as part of a government-required divestment brought about by the pending merger of Safeway and Albertsons, announced earlier this year.

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Court Ruling Against Utah Company Is Good News for Pathway Genomics

An appeals court has ruled against Salt Lake City-based Myriad Genetics Inc. regarding its gene sequencing patents used for breast and ovarian cancers. This ruling is not only good for defendant Ambry Genetics Corp., but for San Diego-based Pathway Genomics Corp., which has also been sued by Myriad.

San Diego County Unemployment Rate Remains 5.8% in November

San Diego’s unemployment rate stayed flat in November from the prior month, at 5.8 percent, but well below the year-ago jobless rate of 7 percent, the state Employment Development Department said.

BAE Systems Receives $8.3M Navy Contract

The U.S. Navy has awarded a contract to maintain and modernize one of its ships, the USS Wayne E. Meyer.

Travelodge Hotel in Mission Valley Sells for $9 Million

An 83-room Travelodge hotel in Mission Valley has been sold for approximately $9 million, according to brokerage company Marcus & Millichap Inc., which represented the buyer.

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The Business Events Calendar for the Week of December 22, 2014

Some of the upcoming business events planned for the county.

'Celebrity' Endorsement Appears to Give Isis Stock Price a Boost

Shares of Isis Pharmaceuticals Inc. soared to a record high the morning of December 19 following an endorsement by financial personality and former hedge fund manager Jim Cramer.

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Goodwill Industries Buys Chula Vista Retail Buildings for $3.1 Million

Goodwill Industries of San Diego has purchased three Chula Vista retail buildings for approximately $3.1 million, according to CoStar Group and public data.

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San Ysidro Retail Center Sold for $2.85 Million

Southbay Investment Co. LLC of San Diego has purchased a San Ysidro retail center for approximately $2.85 million, according to brokerage company Duhs Commercial Inc., which handled the transaction.

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BOMA's TOBY Awards Honor Some Top Properties

The San Diego Building Owners and Managers Association (BOMA) recently announced the winners for the local TOBY awards, “The Outstanding Building of the Year,” at the organization’s Winter TOBY and Membership Awards Gala at the Estancia La Jolla Hotel and Spa.

Friday, December 19

'Celebrity' Endorsement Boosts Isis Stock Price

Shares of Isis Pharmaceuticals Inc. soared to a record high the morning of December 19 following an endorsement by financial personality and former hedge fund manager Jim Cramer.

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BOMA's TOBY Awards Recognize Some Top Properties

The San Diego Building Owners and Managers Association (BOMA) recently announced the winners for the local TOBY awards, “The Outstanding Building of the Year,” at the organization’s Winter TOBY and Membership Awards Gala at the Estancia La Jolla Hotel and Spa.

25 Local Supermarkets Are Among 146 Being Acquired by Haggen

Pacific Northwest grocery chain Haggen Inc. is acquiring 146 stores in five states, including 25 in San Diego County, as part of a government-required divestment brought about by the pending merger of Safeway and Albertsons, announced earlier this year.

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BAE Systems Receives $8.3 Million Navy Contract

The U.S. Navy has awarded a contract to maintain and modernize one of its ships, the USS Wayne E. Meyer.

JPA Could Provide Path to Stadium Solution

Shortly after my arrival in San Diego 15 years ago in my role as a newspaper editor, I was first introduced to what was at the time a smoldering issue: a new stadium for the San Diego Chargers.

Firms Ready to Bring Expertise, Energy to Serving Clients

Brenda Kasper and Lisa Frank, former partners at Paul, Plevin, Sullivan & Connaughton LLP, recently launched Kasper & Frank LLP. Kasper & Frank will specialize in providing practical, creative and cost-effective employment law advice and counseling to California and multistate employers.

Big Brothers and Big Sisters Enjoy a Big Night on the Ice

Frank Motors Group recently sponsored the 12th annual Big Night on Ice at downtown Horton Plaza’s ice rink to benefit the Big Brothers Big Sisters of San Diego County.

Achates Power Seems to Be On the Right Road for Growth

Achates Power Inc., the Sorrento Valley company working on a fuel-efficient diesel engine design, said early this month that it added a fifth-leading global manufacturer to its client list. A nondisclosure agreement prevents Achates from naming the client, a spokesman said.

Dodd-Frank Change Not the Death Knell of Banking Reform

Wall Street banks got an early Christmas present from Washington, according to some headline writers earlier this month.

Carlsbad Approves Lease for Grand Pacific’s Expansion Plans

After more than a year of discussion and debate, the city of Carlsbad has a plan in place to convert a small piece of city-owned land into an expansion site for a hotel owned and operated by locally based Grand Pacific Resorts.

Commercial Properties Embrace Solar, Other Efficiencies

ENERGY: Rate Increases, Innovations Boost Green Solutions

Green energy is surging on the commercial side in San Diego.

Port Leveraging Sea of Data in Its Green Technology Initiative

CLEAN-TECH: Its Administration Building Is Seen as a Potential Model

The Port of San Diego has teamed up with local trade group Cleantech San Diego and a slew of “Internet of Things” technology companies in hopes of being cleaner and greener — and saving some money along the way.

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County Unemployment Rate Remains 5.8% in November

San Diego’s unemployment rate stayed flat in November from the prior month, at 5.8 percent, but well below the year-ago jobless rate of 7 percent, the state Employment Department said.

Travelodge in Mission Valley Sells for $9 Million

An 83-room Travelodge hotel in Mission Valley has been sold for approximately $9 million, according to brokerage company Marcus & Millichap Inc., which represented the buyer.

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Goodwill Industries Purchases Chula Vista Retail Buildings for $3.1 Million

Goodwill Industries of San Diego has purchased three Chula Vista retail buildings for approximately $3.1 million, according to CoStar Group and public data.

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San Ysidro Retail Center Is Sold for $2.85M

Southbay Investment Co. LLC of San Diego has purchased a San Ysidro retail center for approximately $2.85 million, according to brokerage company Duhs Commercial Inc., which handled the transaction.

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Business Events Calendar for Week of December 22, 2014

Some of the business events upcoming in San Diego County.

Executive Q&A: Joe Smith of West Health

Dr. Joe Smith heartily embraces the transformation taking place in health care and he is using his experience, expertise — and sometimes his way with words — to nudge industry leaders towards using smarter and more integrated systems.

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SeaWorld Says Cost-Cutting Won’t Affect Plans for Orca Facility

TOURISM: Local Park To Nearly Double the Size Of Killer Whale Attraction

Plans to significantly expand the killer whale attractions at SeaWorld San Diego apparently remain on track, despite a $50-million cost-reduction plan recently announced by its parent company that already has resulted in the pending layoffs of 108 employees of the Mission Bay marine park.

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Connequity’s Platform Introduces Matchmaking for Networking

SOFTWARE: Company Uses Algorithm to Generate Warm Leads for Clients

Connequity, a newly launched online platform, hopes to take business networking to a new level.

Tribe Ordered To Shut Down Internet Bingo

A federal judge ordered the Iipay Nation of Santa Ysabel to shut down its Internet bingo operation.

Royal Philips to Buy Volcano Corp. for $1 Billion

BIOTECH: S.D. Company’s Imaging Prowess Draws Buyer

Royal Philips NV agreed to buy San Diego-based Volcano Corp. for $1 billion to expand catheter-based imaging of the heart and blood vessels as part of a wider refocus on more profitiable markets, such as medical gear.

Northrop to Sell 4 Drones to S. Korea for $657M

DEFENSE: Australia, Japan Also Interested In Purchasing Aircraft

Northrop Grumman Corp. just received a contract to sell four unmanned Global Hawk aircraft to the government of South Korea for $657 million in a move that reinforces employment in Rancho Bernardo — Northrop’s program office for the long-winged reconnaissance drone.

San Diego Can’t Afford to Lose The Millennials

San Diego is a fascinating market to watch the impact of millennials play out.

Real Estate Center Changes With Industry

people: New Leader Sees Real-World Experience as Key

The incoming executive director of the Burnham-Moores Center for Real Estate, at the University of San Diego, is aiming to prepare students for the cross-training now required to represent increasingly sophisticated clients, especially in the competitive realm of commercial real estate.

Contractors Urged to Invest in Innovation

DEFENSE: Hagel Made Pitch For Long-Term Investment

Times have changed in the area where defense meets innovation.

For ecoATM, Change Brings Opportunity

TECH: Acquisition Doesn’t Dampen Company’s Drive

When Outerwall Inc. acquired San Diego startup ecoATM last year, it promised to keep the operation here and grow it.

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New Direction For Giving

GIVING: Platform Connects Donors to Specific Research

Benefunder, a San Diego-based nonprofit, has created a more direct way to connect philanthropists to top researchers — avoiding the high overhead costs associated with charitable foundations and filling the funding gap left by federal budget cuts to research programs.

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Thursday, December 18

Bumble Bee Agrees to $1.51 Billion Sale to Thai Union Frozen

San Diego-based Bumble Bee Seafoods LLC, one of the world’s largest seafood purveyors, said it agreed to be acquired by Thai Union Frozen Products Public Company Ltd, for $1.51 billion.

Raytheon Co. Awarded $26.1 Million Navy Contract

The U.S. Navy awarded Raytheon Co. a $26.1 million contract for work on integrated shipboard electronic systems aboard San Antonio-class amphibious transport dock ships.

Chamber of Commerce Extends Contract With CEO Jerry Sanders

Jerry Sanders agreed to continue to work as president and CEO for the San Diego Regional Chamber of Commerce at least through 2017, the chamber said Thursday.

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Furlocity Successfully Completes $1.2 Million Private Offering

Furlocity, a pet accommodations website and online booking platform that allows pet owners to search, identify and book trusted pet boarding facility stays, veterinary services and pet-friendly hotels, announced Thursday the successful completion of an approximate $1.2 million private offering.

General Dynamics Nassco Opens Facility in Bremerton, Wash.

General Dynamics Nassco, which operates the largest shipbuilding site on the West Coast in San Diego and employs more than 3,000 here, said it recently opened a new repair and maintenance facility in Bremerton, Wash.

MEI Pharma Raises $46 Million in Public Offering

MEI Pharma Inc., a clinical-stage oncology company, announced that it has raised about $46 million from the sale of 11.5 million shares of its common stock.

Leslie Larranaga-Britt Named Executive Director of Mile of Cars

The National City Mile of Cars named Leslie Larranaga-Britt as its new executive director.

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AMN Healthcare to Acquire 3 Brands From OGH LLC

AMN Healthcare Services Inc., a San Diego-based health care staffing company, announced an agreement to acquire Onward Healthcare, Locum Leaders and Medefis from OGH LLC for $82.5 million.

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Wednesday, December 17

Halozyme Therapeutics, Janssen Biotech Sign Agreement

Halozyme Therapeutics Inc., a San Diego-based biopharmaceutical company, will receive $15 million as an initial payment from Pennsylvania-based Janssen Biotech Inc. as part of a collaboration and license agreement to develop and commercialize products combining Halozyme’s technology with Janssen’s compounds.

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Hines Buys Carlsbad Building Housing Acushnet for $23.3 Million

An affiliate of Houston-based Hines has purchased the Carlsbad industrial building housing golf products maker Acushnet Co. for approximately $23.3 million, according to brokerage company Cassidy Turley, which represented the seller.

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San Diego Chargers to Stay Put for 2015 Season

The San Diego Chargers said the team will remain at Qualcomm Stadium for the 2015 season, putting to rest rumors that last week’s loss to the Denver Broncos was the last time fans could see them play here.

Imperial Beach Site of Planned Hotel Acquired for $5.5 Million

Imperial Beach Resort LLC has purchased an Imperial Beach parcel for $5.5 million, with plans to develop a 79-room boutique hotel, according to brokerage company Lee & Associates, which handled the transaction.

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San Diego Apartment Property Sells for $2.74 Million

A 24-unit apartment property in San Diego’s Lincoln Park subdivision has been sold for approximately $2.74 million, according to brokerage company Marcus & Millichap Inc., which represented the buyer and seller.

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Teradata Corp. Completes Acquisition of RainStor

Teradata Corp., an Ohio-based public company with about 1,000 employees in Rancho Bernardo, said it completed the acquisition of RainStor, a business specializing in online big data archiving.

Royal Philips NV Buys Volcano Corp. for $1 Billion

Royal Philips NV agreed to buy San Diego-based Volcano Corp. for $1 billion to expand in catheter-based imaging of the heart and blood vessels as part of a wider refocus on more profitable markets, such as medical gear.

Three Investors Contribute $2 Million to EdgeWave Inc.

San Diego-based EdgeWave Inc., which makes cyber security software, said on Dec. 17 that three investors contributed $2 million more to the company’s series A funding round. EdgeWave is pulling together funds to expand the company.

Tuesday, December 16

Cubic Corp. Acquires DTECH LABS for $114.5 Million

Cubic Corp. said on Dec. 16 that it acquired DTECH LABS Inc., a Virginia company specializing in radio technology for military, government and commercial customers, for as much as $114.5 million.

Northrop Grumman Sells 4 Aircraft to South Korea for $657 Million

Northrop Grumman Corp. sold four Global Hawk unmanned reconnaissance aircraft to South Korea for $657 million.

Red O Restaurant to Replace Donovan’s at UTC Office Campus

Red O, an upscale restaurant with Mexican-style cuisine led by celebrity chef Rick Bayless, plans a 2016 opening at Irvine Co.’s The Plaza office campus in University Towne Center.

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Four City Heights Apartment Buildings Sold for $4.23 Million

Four apartment buildings totaling 30 units in San Diego’s City Heights neighborhood have been sold for $4.23 million, according to brokerage company ACRE Investment Real Estate Services, which represented the seller.

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Applied CleanTech Says UK Pilot Project Promising

Applied CleanTech, a company developing a sewage recycling technology in San Diego, announced promising results of a pilot project conducted with Scottish Water.

Business Confidence Rose in November, Index Finds

A Business Outlook Index for San Diego, a measure of local business confidence prepared for the San Diego Regional Chamber of Commerce, increased 2 points in November over the prior month to 26.8, led by a hefty rise from businesses in the cyber security industry.

Rock My World Adds New Feature to Music App

Downtown-based Rock My World has trotted out a new feature on its RockMyRun music app for iPhones — one that plays tunes in synch with a listener’s heartbeat.

Steve Martin Appointed CFO of Applied Proteomics Inc.

Applied Proteomics Inc., a San Diego-based developer of protein-based molecular diagnostics, announced the appointment of Steve R. Martin as chief financial officer.

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Monday, December 15

Santa Ysabel Tribe Ordered to Shut Down Online Bingo Operation

A federal judge ordered the Iipay Nation of Santa Ysabel to shut down its Internet bingo operation.

Biocept Inc. Granted Patent by South Korea

San Diego-based Biocept Inc., a molecular oncology diagnostics company, announced that it has been granted a patent in South Korea for its microfluidic channel technology used to capture circulating tumor cells.

Army Awards General Atomics $114.6 Million Contract Modification

The U.S. Army said on Dec. 15 that it awarded a contract modification worth $114.6 million to General Atomics Aeronautical Systems Inc.

Median Home Price in November Was $430,000

The median price for houses sold last month in San Diego County was $430,000, down 2.2 percent from October, but up 3.6 percent from November 2013, according to the most recent CoreLogic Dataquick real estate report.

Oceanside Residence Inn Hotel Getting $2 Million Renovation

Operators of Residence Inn San Diego Oceanside have begun a $2 million renovation of the 125-room property at 3603 Ocean Ranch Blvd. in Oceanside.

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Downtown San Diego Office Building Sells for $18.5 Million

Bosa Development of Vancouver, B.C., has acquired the downtown San Diego office building at 1620 Fifth Ave. for $18.5 million, according to the seller, locally based Douglas Wilson Cos.

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Sunday, December 14

Murata Electronics Completes $471 Million Purchase of Peregrine

Peregrine Semiconductor Corp., the San Diego maker of chips found in wireless devices and networks, completed its sale to Japan-based Murata Electronics North America Inc. in an all-cash transaction valued at $471 million.

Four Chinese Companies to Share $40 Million From Qualcomm

Qualcomm Inc. said on Dec. 11 that it plans to put $40 million into four promising Chinese companies working in the mobile and wireless space, as well as a fund for China-based companies in the semiconductor space.

CEO of SeaWorld to Step Down, Layoffs Planned

The CEO of SeaWorld Entertainment Inc. is stepping down from the post, as the parent company of SeaWorld San Diego embarks on plans to cut $50 million in costs amid dropping attendance at its 11 U.S. theme parks.

Steven Devan Named to Catalyst Corporate Credit Union Board

Steven Devan, chief executive officer of Grossmont Schools Federal Credit Union, was named to the board of directors of Catalyst Corporate Credit Union, the Texas-based wholesale credit union serving 229 member credit unions in California.

The Business Calendar for the Week of December 15, 2014

Some of the business events scheduled in the county for the week of December 15, 2014, and beyond.

Rob Chandhok, Former Qualcomm Exec, to Head Startup

Rob Chandhok, a former senior vice president with Qualcomm Technologies Inc. who left the company earlier this month, broke his silence about his future plans.

Notable Speakers Slated For TD Ameritrade Conference

TD Ameritrade Institutional's national conference in San Diego next month features a couple of big-name speakers sure to enlighten and entertain the expected 3,000 attendees.

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Friday, December 12

Qualcomm to Invest $40 Million in Four Chinese Companies

Qualcomm Inc. said on Dec. 11 that it plans to put $40 million into four promising Chinese companies working in the mobile and wireless space, as well as a fund for China-based companies in the semiconductor space.

Grossmont's Devan Named to Catalyst Corporate Credit Union Board

Steven Devan, chief executive officer of Grossmont Schools Federal Credit Union, was named to the board of directors of Catalyst Corporate Credit Union, the Texas-based wholesale credit union serving 229 member credit unions in California.

SeaWorld CEO Stepping Down as Company Restructures

The CEO of SeaWorld Entertainment Inc. is stepping down from the post, as the parent company of SeaWorld San Diego embarks on plans to cut $50 million in costs amid dropping attendance at its 11 U.S. theme parks.

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Business Calendar for Week of December 15, 2014

Some of the business events planned in the county for the week of December 15, 2014, and beyond.

Peregrine Completes $471 Million Sale to Murata Electronics

Peregrine Semiconductor Corp., the San Diego maker of chips found in wireless devices and networks, completed its sale to Japan-based Murata Electronics North America Inc. in an all-cash transaction valued at $471 million.

Methods to Minimizing That Holiday Madness

This time of year is always crunch time with shopping centers and grocery stores bustling with shoppers.

Ex-Qualcomm Executive Joins San Francisco Startup

Rob Chandhok, a former senior vice president with Qualcomm Technologies Inc. who left the company earlier this month, broke his silence about his future plans.

They Keep the Amenities Close and Style Closer in the Covenant

Within a few short miles of traveling east on Lomas Santa Fe Drive off of Interstate 5 is the west side of the Rancho Santa Fe Covenant.

Cloud-Based Platforms Will Speed Project Management

Companies such as San Diego-based NoteVault Inc. have developed mobile-enabled technology that lets construction superintendents quickly and easily report commercial project activity from work sites, allowing for real-time updates or corrections to projects.

Medical Records Portals Help Patients and Providers

Due to rising consumer interest in health information technology and the transition to accountable care inspired by health care reform - patient portals are everywhere.

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TD Ameritrade Conference Features Big-Name Speakers

TD Ameritrade Institutional's national conference in San Diego next month features a couple of big-name speakers sure to enlighten and entertain the expected 3,000 attendees.

Drones Will Have Extended Reach in a Variety of Fields

Mobility enters a new dimension with the arrival of very mobile unmanned aircraft, coupled with cameras that take video and still images, and software able to stitch together images.

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Imaging Technology Spurs Opportunities in Finance

Once a novelty, mobile banking is becoming an increasingly popular way to make deposits or withdraw cash from ATMs.

New CMS Rules Broaden Prospects for Telemedicine Acceptance

Telemedicine advocates in the San Diego region are applauding new rules from the Centers for Medicare & Medicaid Services (CMS) that have the potential to greatly broaden reimbursements for telehealth care.

Thousands Generously Donate During Chargers Blood Drive

Thanks to the generosity of more than 3,500 San Diegans, an impressive 1,091 units of blood were collected by the San Diego Blood Bank at the Chargers Drive XXXVI presented by San Diego County Credit Union.

GA-ASI System to Help Drones Steer Clear of Other Aircraft

The people who build remotely piloted aircraft in Poway are also busy developing collision avoidance technology.

Small Credit Unions Continue to Provide Personal Service

Being small has its advantages, as a group of 11 San Diego credit unions operating with total assets below $100 million will tell you.

Batu Biologics Names Gerry Berg Its Chief Financial Officer

Batu Biologics Inc., a San Diego-based immunotherapy company working to develop a cancer vaccine, announced the appointment of Gerry Berg as chief financial officer.

Overland and Sphere 3D Merger Is a Match Made in the Cloud

TECH: Virtualization Platform Gets Product Delivery Infrastructure

The merger of San Diego-based Overland Storage into Sphere 3D Corp. of Canada, completed earlier this month, creates a business with about $100 million in revenue, but the upside is much greater, said Eric Kelly, chairman and chief executive of Sphere 3D.

For Vending Machine Operators, It’s Not the Candy That’s Dandy

RETAIL: Offering Healthful Snacks Part Of a Changing Market

That vending machine you hit up for that late afternoon pick-me-up may be changing its stripes. Out with sugary sodas and candy; in with organic juices and Cliff bars.

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Solatube Tackles Big Spaces With Its Latest Design, the SkyVault

CLEAN-TECH: Lighting Company Cuts Energy Costs, Reduces Carbon Emissions

The Vista-based lighting company that championed natural light fixtures inside homes has taken on larger, more powerful designs that could reduce electric bills for large facilities and cut down on carbon emissions.

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Key Economic Drivers to Keep Fueling Real Estate Demand

property: Defense, Biotech, Tourism and Tech Are Region's Engines

Technology, biotech, defense and tourism – and various combinations of all four – are expected to have a continued strong impact on local real estate demand in 2015 and beyond, said experts at a recent symposium on the subject.

App for Digital Photos Allows Users to Say Goodbye to TMI

SOFTWARE: Partnership Possibilities Include the Military, Internet Companies

Deacon Johnson approaches his software business with the righteous indignation of a parent.

Sharp Contracts With Geneva For Cardiac Platform

Geneva Health Care Inc., a San Diego-based medical technology company, announced that Sharp HealthCare will begin using the Geneva Healthcare Suite, a technology platform for managing data from cardiac devices.

Organovo Partners With Yale for Tissue Creation

BIOTECH: Efforts Backed By Grant From a Foundation

San Diego 3-D bioprinting company Organovo Holdings Inc. and Yale School of Medicine, Department of Surgery have formed a collaboration to develop bioprinted tissues for surgical transplantation research, according to a recent news release.

Karras to Lead USD’s Burnham-Moores Center

REAL ESTATE: New Executive Director Replaces Retiring Mark Riedy

University of San Diego’s School of Business Administration has named Stath Karras as the new executive director of the school’s Burnham-Moores Center for Real Estate, effective Jan. 19.

The Economic Forecast Is for Mostly…?

The great Yogi Berra once lamented, “It’s tough to make predictions, especially about the future.”

Low Gas Prices Don’t Pump Up All Profits

ECONOMY: Long-Term Deals Lock in Prices for Some Buyers

The recent spectacular decline in oil prices might make a casual observer assume that businesses and institutions that run fleets are all saving money.

Developers Cashing In On UTC’s Popularity

PROPERTY: Projects Include Mix of Industries and Services

San Diego’s University Towne Center will see a slew of new commercial projects completed over the next three years — with office, retail and hotel elements on the way — as the neighborhood moves well beyond its longtime role as a “second downtown” for financial services providers.

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Theater Is ‘Scene 1’ of Mall’s Makeover

RETAIL: Carlsbad Site to Be Open-Air ‘Lifestyle Center’

The 12-screen luxury movie theater that recently opened at Westfield Group’s mall in Carlsbad marked the first completed feature of a $300 million overhaul being undertaken by the global shopping center operator.

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‘Sweat Equity’

BIOTECH: Dehydration Detection Is Leading Co. To Other Types of Sensors

Electrozyme LLC, a local startup that has attracted the financial support of Dallas Mavericks owner Mark Cuban, has developed a technology for fitness-related wearable devices that will tell users when they are nearing dehydration — and what to do about it.

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Thursday, December 11

Navy Awards Raytheon $38.5 Million Contract Modification

Raytheon Co.’s Integrated Defense Systems unit in San Diego received a $38.5 million U.S. Navy contract modification, the Navy announced on Dec. 11.

The Search Is On – Top Real Estate Deals Nominations Close Jan. 5

The San Diego Business Journal is accepting nominations for the 2015 Top Real Estate Deals, featuring the CRASD Deal Maker Awards, which honor the top brokers on both the buyer and seller side of San Diego County’s biggest, best and most complex projects.

Don't Miss the 2015 Book of Lists – Subscribe Today!

Subscribe now to the San Diego Business Journal to guarantee your copy of the 2015 Book of Lists, coming the week of Dec. 29. The Book of Lists is available only to subscribers.

City Receives $3.4 Million Federal Grant For Lead Removal

Mayor Kevin Faulconer announced that the city of San Diego has received a $3.4 million grant from the federal government to improve health and safety for individuals living in older homes.

Batu Biologics Files Investigational Drug App With FDA

Batu Biologics Inc., a biotechnology company developing a cancer vaccine that targets a tumor's blood vessels, announced the filing of an Investigational Drug Application (IND) with the U.S. Food and Drug Administration (FDA) for its lead immune therapy, ValloVax.

Vista Apartments Sold for $4.5 Million

Trustees of two local Glorioso family trusts have purchased the 34-unit Sunglen Apartments in Vista for $4.5 million, according to brokerage firm ACRE Investment Real Estate Services, which represented the buyer and seller.

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City Approves Lease for Expansion of Sheraton Carlsbad Resort

The Carlsbad City Council has approved a ground lease agreement clearing the way for a 150-room expansion of the 250-room Sheraton Carlsbad Resort & Spa on city-owned property adjacent to the municipal golf course.

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Apartment Vacancy Rate Falls to 2.3 Percent

The apartment vacancy rate in San Diego County fell to 2.3 percent this fall, nearly halving the 4.1 percent vacancy rate from one year earlier, according to the San Diego County Apartment Association’s semi-annual survey of landlords.

Wednesday, December 10

MEI Pharma Inc. Announces $45 Million Proposed Public Offering

MEI Pharma Inc., a San Diego-based oncology company focused on clinical development of cancer therapies, announced that it plans to offer up to $45 million in shares of its common stock in an underwritten public offering.

Jack in the Box Opening at San Diego International Airport

San Diego-based Jack in the Box and Pacifica Breeze Café of Del Mar have Dec. 17 openings slated at San Diego International Airport.

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Sempra Energy's Directors Declare Quarterly Dividend

Sempra Energy, the holding company for San Diego Gas & Electric and other subsidiaries, said its board of directors declared a quarterly dividend of 66 cents per share of common stock.

Qualcomm Plans to Lay Off or Transfer 600 Workers

Chipmaker Qualcomm Inc. acknowledged on Dec. 10 that it plans to transfer or lay off about 600 workers, with half in California and half outside the country.

Security Firm DB Networks Obtains $17 Million in Financing

DB Networks, a Carlsbad provider of cyber security for computer networks, said it obtained $17 million in new financing led by Grotech Ventures of Vienna, Va.

Target Planning Store in San Diego’s Del Sur Neighborhood

Minneapolis-based Target Corp. recently made a $10 million purchase of land in San Diego’s Del Sur neighborhood for a proposed new retail store, according to CoStar Group and public data.

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Tuesday, December 9

3E Co. Announces Opening of Office in Tokyo

Looking to grow its business in the Asia Pacific region, Carlsbad-based 3E Co. has opened a new office in Tokyo.

Cubic Corp. Receives $12 Million Contract From Canadian Government

Kearny Mesa defense contractor Cubic Corp. said on Dec. 9 that it received a $12 million contract amendment to provide urban warfare training aids for the government of Canada.

La Jolla Pharmaceutical, George Washington University Sign Agreement

La Jolla Pharmaceutical Co., a business developing therapies for life-threatening diseases, and George Washington University announced that they have entered into an exclusive worldwide license agreement.

Oceanside Jiffy Lube Sold for $2.95 Million

Cali Oceanside LLC has purchased an Oceanside property housing a Jiffy Lube Plus auto care facility for approximately $2.95 million, according to brokerage company CBRE Group Inc., which represented the seller.

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Kearny Mesa Office Building Sells for $3 Million

The operator of locally based Lars Remodeling & Design has purchased a Kearny Mesa office building for approximately $3 million, with plans to occupy the first floor as its new headquarters, according to Colliers International, which represented the seller.

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US Airways Relocating at San Diego International Airport

US Airways is moving its local operations from Terminal 2 West to Terminal 2 East at San Diego International Airport, effective Dec. 11.

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Desert Green Solar Farm Begins Commercial Operation

Chicago-based Invenergy Clean Power LLC announced the successful close of financing and the start of commercial operation of its Desert Green Solar Farm in Borrego Springs.

Housing Sales Down Nearly 22 Percent in November

Sales of single-family houses in San Diego County fell nearly 22 percent in November from the prior month, and were down about 14 percent year over year, according to the Greater San Diego Association of Realtors.

Monday, December 8

Kratos Subsidiary Receives Contract for Company in Qatar

Kratos Defense & Security Solutions Inc. said on Dec. 8 that one of its subsidiaries received a contract to provide ground electronics to a satellite company in Qatar.

Three Radio Stations Sold to Entercom Communications

Entercom Communications Corp., a Pennsylvania-based operator of radio stations, said it agreed to acquire Lincoln Financial Media and its 15 radio stations, including three in San Diego, for $105 million plus working capital.

Cubic Corp. Receives Potential $1.3 Million Navy Contract

Cubic Corp. said on Dec. 8 that it received a contract to improve U.S. Navy electronics, specifically a data link system that handles video among other types of data. The work could be worth as much as $1.3 million.

UC San Diego Health Names Dr. Thomas Savides to Newly Created Position

UC San Diego Health Systems announced that Dr. Thomas Savides has been named chief experience officer, a newly created role for the organization.

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Stath Karras Tapped to Lead USD’s Burnham-Moores Center

University of San Diego’s School of Business Administration has named Stath Karras as the new executive director of the school’s Burnham-Moores Center for Real Estate, effective Jan. 19.

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Batu Biologics Names Gerry Berg its Chief Financial Officer

Batu Biologics Inc., a San Diego-based immunotherapy company working to develop a cancer vaccine, announced the appointment of Gerry Berg as chief financial officer.

Sharp Healthcare Contracts With Geneva Health Care

Geneva Health Care Inc., a San Diego-based medical technology company, announced that Sharp Healthcare will begin using the Geneva Healthcare Suite, a technology platform for managing data from cardiac devices.

Rancho Bernardo Office Complex Sells for $22 Million

Menlo Equities Associates LLC of Palo Alto has purchased the 10-building One Technology Place office complex in Rancho Bernardo for $22 million, according to the seller, Parallel Capital Partners of San Diego.

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Teams Announced for College Football Bowl Games

The opponents for San Diego’s two college football bowl games have been set.

Sunday, December 7

Stephen Cushman Elected Chairman of Convention Center Board

Longtime local businessman and civic leader Stephen P. Cushman has been elected to chair the executive board of San Diego Convention Center Corp., beginning in January.

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Craft Beer-Focused Eatery Opens in University Towne Center

San Diego-based Cohn Restaurant Group has opened Draft Republic, a new beer-focused restaurant concept in the University Towne Center neighborhood.

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The Business Calendar for the Week of December 8, 2014

Some of the business events planned in the county for the week of December 8, 2014 and beyond.

Thousands of Executives Expected for Baseball's Winter Meetings

About 3,000 baseball executives from some 200 professional teams, both major and minor leagues, descend upon the San Diego Convention Center and the nearby Hilton San Diego Bayfront Hotel Dec. 7-10 for the 2014 Baseball Winter Meetings.

Innovation Celebrated at Annual Awards Ceremony

CONNECT, a San Diego-based technology business accelerator founded by the University of California, San Diego, held its 27th annual Most Innovative New Products Awards on Thursday.

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3-D Bioprinter Organovo Partners With Yale School of Medicine

San Diego 3-D bioprinting company Organovo Holdings Inc. and Yale School of Medicine, Department of Surgery have formed a collaboration to develop bioprinted tissues for surgical transplantation research, according to a recent press release.

Defense Secretary Pick Gets Initial Nod From Local Military Group

President Obama’s Dec. 5 nomination of Ashton Carter to be secretary of defense has attracted commentary from observers inside and outside the Washington beltway. Larry Blumberg, executive director of the San Diego Military Advisory Council, said the nomination might be a good sign.

San Diego Places 5th in Number of Million-Dollar Homes Sold

San Diego ranked fifth in the nation for the number of sales of million-dollar houses in the third quarter, according to a recent report from Redfin.

Friday, December 5

Local Military Group Weighs in on Defense Secretary Nomination

President Obama’s Dec. 5 nomination of Ashton Carter to be secretary of defense has attracted commentary from observers inside and outside the Washington beltway. Larry Blumberg, executive director of the San Diego Military Advisory Council, said the nomination might be a good sign.

CONNECT Announces Winners of Innovation Awards

CONNECT, a San Diego-based technology business accelerator founded by the University of California, San Diego, held its 27th annual Most Innovative New Products Awards on Thursday.

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Cushman Elected Chair of Convention Center Board of Directors

Longtime local businessman and civic leader Stephen P. Cushman has been elected to chair the executive board of San Diego Convention Center Corp., beginning in January.

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Baseball Executives Arrive Sunday for Winter Meetings

About 3,000 baseball executives from some 200 professional teams, both major and minor leagues, descend upon the San Diego Convention Center and the nearby Hilton San Diego Bayfront Hotel Dec. 7-10 for the 2014 Baseball Winter Meetings.

Business Calendar for Week of December 8, 2014

Some of the business events planned in the county for the week of December 8, 2014 and beyond.

Cohn Restaurant Group Opens Craft Beer-Focused Eatery at UTC

San Diego-based Cohn Restaurant Group has opened Draft Republic, a new beer-focused restaurant concept in the University Towne Center neighborhood.

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Rady Children’s Hospital to Build Office in Murrieta

Rady Children’s Hospital-San Diego has announced plans to build a new medical office building on four acres of land in Murrieta.

Surf Air, Seaport Airlines Have Singular Focus

There are two new entries into the San Diego air transport scene offering regional flights from San Diego or Carlsbad via single engine turboprop powered aircraft to locations in California and soon to Mexico.

Home of the month: Cardiff Backcountry Grand Estate

This exceptional property high on a bluff in eastern Cardiff-by-the-Sea provides all the sprawling grandeur of a luxury estate with the comfortable beach vibe of Cardiff.

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Hale Tribute Raises a Hearty $145,000 for Cerebral Palsy

United Cerebral Palsy announced that the tribute dinner honoring biotech pioneer David Hale of Hale Biopharma Ventures as the “Life Sciences Leader of the Year” raised more than $145,000.

Banking Industry is Back and in the Black and Growing Profits

The nation’s banking industry is apparently well back into the black, and making higher profits.

Added Value

LEADERSHIP: CFOs Are Increasingly Involved in Strategy, Operations and Business Development

They’ve got their fingers on just about every facet of a company, likely know where all the skeletons are buried and are wearing more hats these days.

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Cymer Sheds New Light on How to Build Smaller Microchips

Cymer LLC introduced a new laser light source, an essential component for the machines that turn out microchips, this month.

Brandi Gill Brings Holiday Cheer to Veterans and Their Families

Veterans Village of San Diego is nationally recognized as an organization that successfully serves homeless veterans.

Steven Dowdy’s Breakthrough Could Revolutionize Medicine

It’s fair to say that Steven Dowdy, the co-founder of Solstice Biologics Inc. and an academic scientist at the University of California, San Diego, has experienced more career-related drama than normal, even for a biotech businessman.

Pala Tribe Launches Online Gambling Site – in New Jersey

GAMING: State Sues Santa Ysabel Tribe Over Bingo Website

Two local American Indian bands raised their profiles recently, as one put its name out to New Jersey gambling enthusiasts, and the other drew legal fire from California’s attorney general.

Apartment Buildings Fetching Notable Deals

Downtown San Diego has recently seen its share of apartment property deals and new projects with dollar values in the tens and hundreds of millions.

U.S. Navy Teams With ASU to Create Tech Accelerator

The U.S. Navy has teamed up with Arizona State University to create a new technology transfer organization in San Diego.

Opera Pleased With Ticket Sales; Nears Fundraising Goal

AUDIT: Remaining $2.2M of 2003 Kroc Gift Now in Cash Account

As it embarks on its 50th season next month, the revived San Diego Opera said ticket sales are doing better than expected and it’s closing in on meeting a fundraising goal.

Shelter Island Gets its First Full-Service Luxury Spa at Kona Kai

TOURISM: Renovation Seeks to Attract Share Of Overnight Visitors

Capping a $22 million acquisition and renovation of Kona Kai Resort & Marina, owner Noble House Hotels & Resorts Ltd. recently opened what it says is a first for Shelter Island – a full-service luxury spa.

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Thursday, December 4

Carlsbad Firm Gets $75 Million Boost From Malaysian Partner

BIOTECH: Verdezyne Makes Alternative To Petroleum-Based Products

Verdezyne Inc. has secured $75 million in debt financing to further its work in renewable chemicals – a development that may cut down on pollution and provide eco-friendly options for products traditionally made from petroleum-based chemicals, such as athletic apparel and carpets.

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Imprimis Acquires Park Compounding For $4.1M

Imprimis Pharmaceuticals Inc., a San Diego-based company focused on drug combinations, has entered into an agreement to acquire South Coast Specialty Compounding Inc., doing business as Park Compounding, for $4.137 million in cash, stock and deferred payments, according to a recent regulatory filing.

Palomar Health Foundation Names New President

Palomar Health Foundation has appointed Jean Larsen, who helped raise more than $150 million at Rady Children’s Hospital Foundation, as president and chief philanthropic officer.

Concrete Plans For Courthouse Are Taking Shape

That big hole in the ground in downtown is about to start filling up.

Carlsbad Office Building Sells for $13 Million

Peregrine Realty Partners Inc. of Newport Beach has purchased the Pacific View Plaza office building in Carlsbad for $13 million, according to brokerage company CBRE Group Inc., which represented the seller.

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Northrop Grumman Delivers Unmanned Copter to U.S. Navy

Northrop Grumman Corp. announced that it delivered the first operational large version of its MQ-8 Fire Scout, an unmanned helicopter, to its U.S. Navy customer.

Executive Rob Chandhok Confirms Departure From Qualcomm

Rob Chandhok, a senior executive with 14 years of experience at Qualcomm Inc., has left his position.

Balboa’s Birthday Bash Taking Shape

TOURISM: 100th Anniversary Expected to Boost Attendance

As events marking Balboa Park’s centennial get underway, San Diego business and tourism leaders are anticipating a significant boost in 2015 to the 10 million people who normally visit the park in a given year.

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Coast Finds Niche in Serving EMS Industry

BIOMEDICAL: Equipment Company Founded by Three Former Co-Workers

“We all know what happens when a large company buys up a small one,” said Derek Goodman, business manager and co-founder of Coast Biomedical Equipment Inc.

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Meet Gina Champion-Cain, ‘Serial Entrepreneur’

REINVENTION: Former Developer Branches Out

A lot of downtown San Diego real estate developers disappeared in the depths of the Great Recession.

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Return to Roots

TECH: Alex Mashinsky Hopes to Restore Startup Vibe at Novatel Wireless

Alex Mashinsky is more familiar to the denizens of New York than San Diego.

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Organovo Forms Collaboration With Yale School of Medicine

San Diego 3-D bioprinting company Organovo Holdings Inc. and Yale School of Medicine, Department of Surgery have formed a collaboration to develop bioprinted tissues for surgical transplantation research, according to a recent press release.

San Diego Ranks 5th in Nation for Million-Dollar Home Sales

San Diego ranked fifth in the nation for the number of sales of million-dollar houses in the third quarter, according to a recent report from Redfin.

Rady Children's Plans New Medical Office in Murrieta

Rady Children’s Hospital-San Diego has announced plans to build a new medical office building on four acres of land in Murrieta.

Lowe’s Opening New Store in Poway

Home improvement retailer Lowe’s has scheduled a Dec. 5 opening for its new store at 13750 Poway Road in Poway.

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Planning Agency to Offer Grants to Promote Bicycling

The San Diego Association of Governments (SANDAG), the regional planning agency for the county and its 18 cities, said it wants to distribute $30,000 in grant funding to projects and creative programs that will promote bicycling.

Wednesday, December 3

U.S. Navy Teams with ASU to Create Tech Accelerator

The U.S. Navy has teamed up with Arizona State University to create a new technology transfer organization in San Diego.

Vista Industrial Building Sold for $7.45 Million

PacVentures Inc. of San Diego has purchased a multi-tenant industrial building in Vista for $7.45 million, according to brokerage company Colliers International, which represented the buyer and seller.

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Lodge at Torrey Pines Named Top Local Business Hotel in Magazine Survey

The Lodge at Torrey Pines in La Jolla was recently ranked as the top business hotel in the San Diego market, in an annual reader survey conducted by the magazine Travel + Leisure.

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Mitchell International to Acquire Cogent Works

Mitchell International Inc., the San Diego provider of software serving the auto insurance and auto repair industries, said it agreed to acquire Cogent Works, a Utah-based business that specializes in processing property and casualty pharmacy prescription claims.

San Diego Economy Continues to Improve

An index measuring San Diego’s economy rose 0.6 percent in October, the fifth consecutive month it’s increased, signaling solid growth at least through the end of 2015.

Quidel Announces Offering of $150 Million in Senior Notes

Quidel Corp., a San Diego-based diagnostics company, announced the pricing of its underwritten public offering of $150 million in convertible senior notes due in 2020.

Tuesday, December 2

Military Exercises $10.1 Million Option with Miramar Transportation

The U.S. Transportation Command announced on Dec. 1 that it exercised a six-month option of an existing contract with Miramar Transportation Inc.

Cubic Corp. Awarded $1.2 Million Contract by Latvia

Kearny Mesa-based Cubic Corp. said on Dec. 2 that it received a $1.2 million contract to provide laser-based military training equipment to the Baltic country of Latvia.

PriceSmart Opens Sixth Store in Colombia

PriceSmart Inc., the San Diego operator of warehouse club stores in Latin America and the Caribbean, said the company opened its sixth warehouse store in Colombia in the city of Medellin last month.

Imprimis to Aquire Park Compounding For $4.137 Million

Imprimis Pharmaceuticals Inc., a San Diego-based company focused on drug combinations, has entered into an agreement to acquire South Coast Specialty Compounding Inc., doing business as Park Compounding, for $4.137 million in cash, stock and deferred payments, according to a recent regulatory filing.

County Construction Contracts Up 20 Percent Through October

The value of San Diego County’s contracts for future construction rose 20 percent from a year ago in the first 10 months of 2014, topping $3.4 billion, according to the latest data from McGraw Hill Construction.

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Suja Juice Inc. Raises Over $21 Million

Suja Juice Inc., a San Diego-based company that makes bottled raw juices, has raised over $21 million from the sale of equity and debt, according to a recent regulatory filing.

Web Security Firm Buys UTC Office Building for $8.15 million

Web security solutions provider iboss Inc. has acquired a University Towne Center office building for approximately $8.15 million, according to CoStar Group and public data.

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Monday, December 1

Pulse Electronics Names New CEO

Pulse Electronics Corp., a San Diego manufacturer of electronic components in China, said its board of directors named Mark Twaalfhoven as its new chief executive officer effective Dec. 1.

Mission Valley Office Building Sells for $11.1 Million

Shopoff Realty Investments LP of Irvine has purchased a Mission Valley office building for approximately $11.1 million, according to CoStar Group and public data.

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Palomar Health Foundation Names New President

Palomar Health Foundation has appointed Jean Larsen, who has helped raise more than $150 million at Rady Children’s Hospital Foundation, as president and chief philanthropic officer.

Miramar Industrial Building Sells for $5.6 Million

Torrey Hills LLC of San Diego has purchased a Miramar industrial building for approximately $5.6 million, according to CoStar Group and public data.

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AltheaDx Names New Chief Medical Officer

AltheaDx Inc, a San Diego-based diagnostics company, announced the appointment of Juan-Sebastian Saldivar as chief medical officer.

Overland Storage Announces Approval of Merger with Sphere 3D

Overland Storage Inc., the San Diego provider of data storage systems, said more than 99 percent of the shares voting in a special meeting last week were cast in favor of approving a planned merger with Sphere 3D Corp., a Canadian technology business whose stock is traded on the Toronto Stock Exchange.

Quidel Corp. Relocates Headquarters to Del Mar Heights

San Diego-based Quidel Corp., a provider of diagnostic healthcare technologies, has relocated to newly completed corporate headquarters at One Del Mar, in the city’s Del Mar Heights neighborhood.

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Cymer Introduces New Machine to Produce Microchips

Cymer LLC of Rancho Bernardo has introduced a new laser light source for microchip manufacturing.

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GlySens Receives $2 Million Grant for Glucose Monitoring System

San Diego-based GlySens Inc. announced that it has been awarded a two-year, $2 million dollar grant from the National Institute of Diabetes and Digestive and Kidney Diseases, a division of the National Institutes of Health (NIH).

San Diego Companies Receive SPAWAR Contract Modifications

Kratos Defense & Security Solutions Inc. and Computer Science Corp., both of San Diego, were among nine contractors to receive one-year contract modifications to support SPAWAR, the U.S. Navy’s information technology command.