Stories for September 2014

Tuesday, September 30

County Contracts for Future Construction Up 35 Percent Through August

Contracts for future construction in San Diego County rose 35 percent from a year ago in the first eight months of 2014, with a value topping $3.1 billion, according to the latest data from McGraw Hill Construction.

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Vanguard Space Technologies to Provide a Structure for Advanced Telescope

San Diego-based Vanguard Space Technologies Inc. announced that it has been selected by Ball Aerospace & Technologies Corp. to produce the structure assembly for the L1-L2 lens assembly for the camera on the Large Synoptic Survey Telescope (LSST).

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Acutus Medical Completes $26.2M Funding Round

Acutus Medical Inc., a San Diego-based medical device company developing tools for treating complex cardiac arrhythmias, announced it has completed a $26.2 million financing round to continue developing its imaging and mapping system.

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Report Gives Picture of Region's Manufacturing Sectors

In advance of National Manufacturing Day on Friday, Oct. 3, a new local study finds that nearly 3,000 San Diego companies are engaged in the activity, and employ more than 94,000 workers who earn an average of $75,800.

South County EDC to Host Economic Summit at Convention Center

The South County Economic Development Council, the nonprofit business advocacy organization for the South Bay, hosts its 24th annual economic summit Oct. 10 at the San Diego Convention Center.

Century-Old Downtown Apartment Building Sells for $3.3 Million

A buying entity recorded as Matmo Ents Inc. has purchased a 104-year-old apartment building in downtown San Diego for $3.3 million, according to CoStar Group and public data.

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Monday, September 29

Otay Mesa Apartments Sold for $150 Million

Partnerships controlled by San Diego-based R&V Management Corp. have acquired the 644-unit Greenfield Village apartment community in Otay Mesa for $150 million, according to Cushman & Wakefield Inc.

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Ambit Biosciences to Be Acquired By Japanese Company

San Diego-based Ambit Biosciences Corp. and Japanese-based Daiichi Sankyo Company Ltd. jointly announced that they have entered into a merger agreement under which Daiichi Sankyo will acquire all of the outstanding common stock of Ambit Biosciences for approximately $315 million on a fully diluted basis or $15 per share.

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Irwin Jacobs Makes Forbes' 400 Wealthiest Americans List

Qualcomm Inc. co-founder and retired chairman Irwin Jacobs was the only San Diegan to make this year’s Forbes list of the 400 wealthiest Americans.

Mollenkopf to Speak on Technology and Running Qualcomm

Qualcomm Inc. CEO Steve Mollenkopf will speak about the future of mobile technology and about his first seven months in charge of the company during an evening presentation Oct. 3.

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Excel Trust Buys Three Utah Retail Properties for $223 Million

San Diego-based Excel Trust Inc. has purchased a portfolio of three Utah retail centers for approximately $223 million, according to the parties and brokerage company involved.

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PriceSmart Acquires Land in Panama for New Warehouse Store

PriceSmart Inc., the San Diego operator of warehouse club stores in Latin America and the Caribbean, said it acquired 239,000square feet of land in Chorrera, Panama where it intends to open a new warehouse store in the summer of 2015.

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Developers Plan Pacific Highlands Apartments after $17.5 Million Land Deal

San Diego-based Wermers Properties and R&V Management Corp. have partnered to acquire 7.4 acres of land near Carmel Valley for $17.5 million, with plans to develop a new apartment community.

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Miva Makes Changes in Look, Location and More

Miva Merchant, a San Diego-based provider of ecommerce software, announced a corporate rebrand and name change to Miva, as well as a new headquarters location.

Positive Results in a Meritage Pharma Trial May Be Step Toward Acquisition

San Diego-based Meritage Pharma Inc. announced positive final Phase 2 results of the company’s treatment for a chronic disease involving inflammation of the esophagus ─ eosinophilic esophagitis.

UCSD Installing Large Energy-Storage Battery System on Campus

The University of California, San Diego announced that one of the largest, most environmentally friendly battery-based storage systems in the United States will be installed at the university’s campus.

Sunday, September 28

Aethlon Collaboration Could Lead to Diagnostic for NFL PLayers and Others With CTE

San Diego-based Aethlon Medical Inc. and its diagnostic subsidiary, Exosome Sciences Inc., announced that a clinical collaboration with the Boston University CTE Center has been established to advance a blood-based diagnostic test that could identify chronic traumatic encephalopathy in living individuals – a disorder previously only detected upon autopsy.

AMN Healthcare Establishing Training Center to Support Changing Health Care Roles

San Diego-based AMN Healthcare Services Inc., a national provider of health care staffing services, announced the establishment of the Center for Professional Advancement to train the future health care workforce for rapidly changing roles at hospitals and health systems.

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Business Workshop Will Focus on Tax Credits for Job Creation

Small, medium and large businesses interested in qualifying for a state tax credit for creating new jobs can get more information at a free workshop Oct. 13 presented by the Governor’s Office of Business and Economic Development and the San Diego Regional Economic Development Corp. held at San Diego City College’s Corporate Education Center starting at 1 p.m.

The Business Calendar for the Week of Sept. 29, 2014

Some of the business events scheduled in the county for the week of Sept. 29, 2014.

Westcore Buys Otay Mesa Industrial Property for $6.7 Million

Westcore Properties of San Diego has purchased an Otay Mesa industrial building for $6.7 million.

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Belching Beaver to Turn a Vista Bank Building into Brewpub

Vista-based craft beer maker Belching Beaver Brewery Inc. plans to convert a former bank location into a new brewpub in that city, after purchasing the building at 302 E. Broadway for $1.35 million.

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Pulse Electronics Says It Will Voluntarily Delist From NYSE

Pulse Electronics Corp., the San Diego manufacturer of electronic components in China, said it decided to voluntarily delist its common stock from the New York Stock Exchange and deregister the shares with the federal Securities and Exchange Commission.

Ligand Earns Milestone Payment for Role in Assisting a Merck Drug Approval

Ligand Pharmaceuticals Inc. announced that Merck & Co. Inc., known as MSD outside the United States and Canada, has received approval for its drug candidate,Noxafil, which was created using technology enabled by Ligand’s Captisol.

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Kratos Gets $3.6M Deal for Missile Defense Work

Kratos Defense & Security Solutions Inc. said that it received a $3.6 million task order from an undisclosed customer.

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Youngevity Subsidiary's New Coffee Contracts Expected to Generate $2M in Revenue

Youngevity International Inc., a Chula Vista based direct marketer of gourmet coffees and other products, said the Green Coffee sales division of its wholly owned subsidiary, CLR Roasters, procured several new contracts for its shade-grown, Arabica green coffee distribution business that is expected to generate $2 million in gross revenue.

Friday, September 26

SDBJ General Counsel Awards Nominees Are an Impressive Bunch

I just completed my judging form of the San Diego Business Journal’s General Counsel of the Year Awards.

Fypio’s New App Introduces Twist to Real Estate ‘Matchmaking’

Michael Koh wants you to forget about the standard way of finding a home online.

Taiwanese Chip Maker MediaTek Inc. Opens a San Diego Office

MediaTek Inc., the wireless communications chip maker based in Taiwan, celebrated the opening of its San Diego office with a party and a ribbon-cutting ceremony Sept. 24.

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The California Conundrum: the iPhone Effect

For the past several weeks I have focused on the efforts of the San Diego Regional Chamber of Commerce to make San Diego the most business friendly community in California.

Patent Rights Are Crucial to Local Economy

Anyone who has seen the TV show “Shark Tank” has likely heard the word “patent” uttered between the contestants and panel of investors.

Grant to Help Women Overcome Domestic Violence, Homelessness

The matter of domestic violence has been brought to light again recently as an issue that needs to be addressed and discussed openly.

Labor Forces

WORKFORCE: Demand Leads Companies in Key Industries to Fill Positions

San Diego’s labor market is looking up with more companies hiring local talent.

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Aethlon Medical Announces Collaboration on Creating Diagnostic for CTE

San Diego-based Aethlon Medical Inc. and its diagnostic subsidiary, Exosome Sciences Inc., announced that a clinical collaboration with the Boston University CTE Center has been established to advance a blood-based diagnostic test that could identify chronic traumatic encephalopathy in living individuals – a disorder previously only detected upon autopsy.

Home Bank Seems to Always Be Making Profitable Moves

When Home Bank of California changed its address last year and moved to Kearny Mesa from Pacific Beach, the idea was to mine the more heavily concentrated business neighborhood.

Burnham Sees Profit for the Community in a Nonprofit UT

MEDIA: Businessman Pursues Unusual Purchase Plan for Local Newspaper

Whether Doug Manchester sells the UT San Diego to a new nonprofit organization is still unclear, but one of the country’s largest daily newspapers, the Tampa Bay Times, has operated under that model for more than three decades.

Local Health Care Office Space Demand Remains Uncertain

PROPERTY: Climate Could Change as Sector Settles in With Reforms

An aging population and expanded insurance coverage are raising demand for health care services, but the exact demand picture for medical offices — in terms of size, format and location — still hasn’t come fully into focus in San Diego County.

Company Turns Up Heat On Pain With New Medical Device

MEDICINE: Machine Warms Blood Providing Temporary Relief

Roughly one in five adults in the United States lives with arthritis, and patients spend $15.6 billion per year on prescription drugs to treat the pain and inflammation associated with the joint disorder.

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Ligand Pharmaceuticals Earns Milestone Payment From Merck

Ligand Pharmaceuticals Inc. announced that Merck & Co. Inc., known as MSD outside the United States and Canada, has received approval for its drug candidate,Noxafil, which was created using technology enabled by Ligand’s Captisol.

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Rehabilitation Center Renovation Is Completed

Renovation of the 14,172 square foot Sharp Memorial Hospital Rehabilitation Center is now complete at the location in Kearny Mesa.

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Qualcomm Parts Play Role in New iPhones

Qualcomm Inc. is onboard the iPhone 6 and iPhone 6 Plus, according to several specialty publications.

Plan Aims to Keep Conventions Coming to Town

TOURISM: Extra Efforts Needed as Expansion of Center Hits Roadblock

Facing recent declines in overall convention attendance and the likelihood that an expansion won’t happen anytime soon, local tourism officials have launched a five-year plan to fill San Diego Convention Center with large group gatherings.

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Health Care and Biotech Talents Earn Top Spots

Editor’s note: Tom York is on vacation; his column will return next week. Our new Editor-in- Chief, Nels Jensen, is filling in this week and will soon be writing this column on a regular basis.

Pension Fund Officer’s Position Is in Peril

FINANCE: County Considers Trying Path With Less Risks

San Diego County’s employee pension fund would be better off adopting a safer, more traditional investing model rather than the higher-risk one now in place, said several investment professionals.

Avalon Partnership Adds 2 More Startups

PHARMA: VC Firm, GSK Putting $10M Into Each C

Avalon Ventures LLC announced the launch of two biotech companies formed through its collaboration with British drugmaker, GlaxoSmithKline Plc. The partnership will funnel $495 million into 10 new biotech companies by 2016.

Wave of Development Hitting The Village

PROPERTY: Diverse Mix Of Projects Set for La Jolla

Property by property, La Jolla’s central Village area is being remade as several older buildings get new owners who are now making plans for upcoming townhomes, stores and restaurants, a performing arts center and a luxury movie theater.

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Calm Seas For Now

MILITARY: Sequestration Pause Allows for Stability

Military spending — a foundation of the San Diego economy — is expected to wane only slightly for the next year with jobs attributed to such spending facing a 2 percent decrease in fiscal year 2015, according to a new study from SDMAC, the San Diego Military Advisory Council.

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Belching Beaver Converting Vista Bank Building into Brewpub

Vista-based craft beer maker Belching Beaver Brewery Inc. plans to convert a former bank location into a new brewpub in that city, after purchasing the building at 302 E. Broadway for $1.35 million.

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Business Workshop to Focus on Tax Credits for Job Creation

Small, medium and large businesses interested in qualifying for a state tax credit for creating new jobs can get more information at a free workshop on Oct. 13 presented by the Governor’s Office of Business and Economic Development

Youngevity Subsidiary Secures Several New Coffee Contracts

Youngevity International Inc., a Chula Vista based direct marketer of gourmet coffees and other products, said the Green Coffee sales division of its wholly owned subsidiary, CLR Roasters, procured several new contracts for its shade-grown, Arabica green coffee distribution business that is expected to generate $2 million in gross revenue.

Pulse Electronics Corp. Plans to Delist From New York Stock Exchange

Pulse Electronics Corp., the San Diego manufacturer of electronic components in China, said it decided to voluntarily delist its common stock from the New York Stock Exchange and deregister the shares with the federal Securities and Exchange Commission.

Westcore Purchases Otay Mesa Industrial Property for $6.7 Million

Westcore Properties of San Diego has purchased an Otay Mesa industrial building for $6.7 million.

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Kratos Gets $3.6M Missile Defense Deal

Kratos Defense & Security Solutions Inc. said on Sept. 24 that it received a $3.6 million task order from an undisclosed customer.

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AMN Healthcare Announces Formation of Training Center

San Diego-based AMN Healthcare Services Inc., a national provider of health care staffing services, announced the establishment of the Center for Professional Advancement to train the future health care workforce for rapidly changing roles at hospitals and health systems.

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Business Calendar for Week of Sept. 29, 2014

Some of the events scheduled in the county for the week of Sept. 29, 2014.

Thursday, September 25

Partnership Plans $26 Million Industrial Park Project in Oceanside

Developer McDonald Property Group of Newport Beach has joined in a partnership to develop a 15.8-acre, $26 million industrial project in Oceanside.

Judge Tosses Out NuVasive Inc.'s 'Neurovision' Trademarks

A California federal judge on Sept. 24 canceled trademark registrations held by San Diego-based NuVasive Inc., a company developing medical devices for spine disorders, for the word “neurovision” after the company was found to have infringed its rival Neurovision Medical Products Inc.'s trademarks.

Lucia Capital Group Acquires Montecito Firm

Lucia Capital Group, a San Diego wealth management firm whose principals include Ray Lucia Jr. and Joe Lucia, the son and nephew of longtime local financial advisor Ray Lucia, said it acquired West Coast Asset Management of Montecito, an advisory firm that manages about $170 million in assets.

Honor the Dynamic Women of Your Company — Nomination Deadline Extended

The San Diego Business Journal is now accepting nominations for the 2014 Women Who Mean Business Awards, which recognizes the top women business leaders who have made a difference to San Diego’s businesses and organizations.

Carlsbad Property Housing TaylorMade Headquarters Sells for $23.5 Million

Regent Properties of Los Angeles has purchased a two-building Carlsbad property that includes the headquarters building of golf equipment maker TaylorMade-adidas for approximately $23.5 million, according to brokerage company Cassidy Turley.

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Rubio’s Remodeling, Rebranding Some of its Restaurants

Carlsbad-based Rubio’s Restaurants Inc. plans a redesign of 60 of its California restaurants, with a rebranding of those locations under the name Rubio’s Coastal Grill.

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San Diego-based Axesstel Acquires Flexcomm

Axesstel, a San Diego provider of telecommunications equipment, said it acquired Flexcomm Ltd., a Hong Kong based provider of wired and wireless routers and modems, in a deal that entailed Axesstel issuing 25 million shares of its common stock to Flexcomm stockholders.

BAE Systems Awarded $35.3M Navy Contract for Destroyer Work

The U.S. Navy awarded BAE Systems San Diego Ship Repair a $35.3 million contract modification to cover dry-dock work on the Arleigh Burke-class destroyer USS Pinckney.

Wednesday, September 24

Aethlon Announces Dengue Virus Treatment Agreement

Aethlon Medical Inc., a San Diego-based therapeutic device company, announced that it has entered into an agreement with Qualtran LLC that would expand human clinical studies of Aethlon’s Hemopurifier therapy to include individuals infected with dengue virus, a global health threat not currently addressed with approved drug or vaccine therapies.

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Camaisa Named CEO of Parallel 6

Allan Camaisa, a local serial entrepreneur, was named chief executive officer of Parallel 6, a mobile technology company based in San Diego.

MediaTek Inc. Opens San Diego Office

MediaTek Inc., the wireless communications chip maker based in Taiwan, celebrated the opening of its San Diego office with a party and a ribbon-cutting ceremony Sept. 24.

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Northrop Grumman Gets $78M Delivery Order From Air Force

The U.S. Air Force said on Sept. 23 that it awarded Northrop Grumman Corp. a four-year, $78 million delivery order for spare parts for the Block 40 version of the Global Hawk unmanned spy aircraft.

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Jamul Retail Center Sells for $3.8 Million

Developer Dan Floit of Del Mar has purchased Plaza La Tienda, a two-building retail property in the East County community of Jamul, for $3.8 million, according to CoStar Group and public data.

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Grocery Outlet Plans Store Opening in Chula Vista

Discount retailer Grocery Outlet plans an Oct. 2 opening at 1340 3rd Ave. in Chula Vista. It will be the 10th San Diego County location for the Emeryville-based company, with more local stores in development.

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Blaze Pizza Plans Two Local Openings in October

Pasadena-based Blaze Fast-Fire’d Pizza, a fast-casual restaurant chain that makes custom-made pies baked in high-temperature ovens, plans two San Diego County openings in October, bringing its total to three locations in the region.

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Tuesday, September 23

Defense Spending in County Expected to Drop 1%

A new, comprehensive look at the U.S. Department of Defense’s local presence predicts that the military spending that San Diego County enjoys will decline one percent in the new fiscal year, which begins on Oct. 1.

Cytori Pursuing Restructuring Plan

Cytori Therapeutics, a cell therapy company in San Diego, announced an updated strategy and plan to restructure its operations and reduce costs.

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REIT Buys Four San Diego Office Buildings for $21.8 Million

Bixby Land Co. of Irvine has purchased four San Diego office buildings, in deals totaling $21.8 million, with plans for more than $16 million in renovations.

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Guild Mortgage Acquires Comstock Mortgage

Guild Mortgage, a San Diego mortgage lender that has more than 200 branch and satellite offices in 23 states, said it acquired Comstock Mortgage, an independent mortgage lender in Sacramento with 15 offices.

Overland Storage Reports FY2014 Revenue of $65.7M

Overland Storage, the San Diego data storage systems provider that entered into a definitive agreement to be acquired by a Canadian software company earlier this year, reported fiscal 2014 fourth quarter revenue of $24.2 million, up 101 percent from the like quarter of the prior fiscal year.

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North Park Land Sold for $7.7 Million

TR Hale LLC has purchased a 1.5-acre parcel of land in North Park for $7.7 million, with plans to develop an upscale, mixed-use apartment project, according to brokerage company Colliers International.

Companies to Support Japan-America Grassroots Summit Delegation

Japan Airlines Co. Ltd. and Kyocera Corp., which operates several subsidiary companies in San Diego, said they will jointly support the Tomodachi Hironomachi Delegation to the 24th Japan-America Grassroots Summit in that runs Sept. 23-30 in San Diego.

Monday, September 22

A Look in New iPhones Shows Qualcomm's Role

Qualcomm Inc. is onboard the iPhone 6 and iPhone 6 Plus, according to several specialty publications.

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Little Italy Apartments Sold for $102.5 Million

A Dallas buyer listed as Apartments at Little Italy LLC has purchased Broadstone Little Italy, a 203-unit apartment building in downtown San Diego, for $102.5 million, according to CoStar Group and public data.

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Cassidy Turley Being Acquired by DTZ Affiliate

Washington, D.C.-based commercial real estate services provider Cassidy Turley, which has a San Diego office, has entered into an agreement to be acquired by an affiliate of DTZ Investment Holdings, for an undisclosed price.

Garden Fresh Names 2 New Top Execs

Garden Fresh Restaurant Corp. announced that David Carr and Julie Derry are joining the company as chief financial officer and chief marketing officer, respectively.

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Lpath Inc. Announces $12.5M Registered Direct Offering

Lpath Inc., a San Diego-based company working on bioactive lipid-targeted therapeutics, announced that it has entered into definitive agreements to sell 3,605,042 registered shares of common stock and 3,605,042 unregistered warrants in a registered direct offering totaling $12.5 million.

Epsilon Systems Receives Navy Contract Potentially Worth $85M

Epsilon Systems Solutions Inc. said that it received a U.S. Navy contract to support the Southwest Regional Maintenance Center, which repairs and modernizes ships in the port of San Diego.

Forum to Help Small Businesses Navigate Their Way to Corporate, Government Contracts

The San Diego Supplier Development Council and the Women’s Business Enterprise Council West are collaborating for “Operation Opportunity — Key to Contracts,” a forum where speakers share strategies leading to coveted corporate and government contracts.

County's Unemployment Rate Drops to 6.2% in August

San Diego’s unemployment rate fell to 6.2 percent in August, down from a revised 6.6 percent in July.

National University Announces Opening of Sanford Education Center

National University, a nonprofit institution of higher education, recently announced the grand opening of the Sanford Education Center and the national expansion of research-based initiatives aimed at empowering nonprofit leaders, educators and others serving the public good, the university said.

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Carlsbad Retail Center Sells for $15 Million

A Phoenix-based partnership of Hannay Realty Advisors and MDC Realty Advisors USA has purchased the Palomar Place retail center in Carlsbad for $15 million, according to brokerage company JLL, which represented the seller.

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Sunday, September 21

Covario Agrees to Sell Its Search and Content Marketing Agency Business

San Diego-based Covario has agreed to sell its search and content marketing agency business to London-based Dentsu Aegis Network, the businesses announced on Sept. 17.

Sanford-Burnham Medical Research Institute Names 5 New Board Members

Sanford-Burnham Medical Research Institute announced the election of five new members to its board of trustees bringing the total to 21 members.

Renovation of Sharp Memorial Hospital Rehabilitation Center Is Completed

Renovation of the 14,172 square foot Sharp Memorial Hospital Rehabilitation Center is now complete at the location in Kearny Mesa.

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Legacy Partners Plans $6.5 Million Upgrade of Sorrento Mesa Office Campus

Legacy Partners Commercial Inc. plans more than $6.5 million in renovations at Sorrento Canyon Technology Center in Sorrento Mesa, which it purchased earlier this year in a joint venture with an affiliate of Goldman Sachs.

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Murphy Development Buys Scripps Ranch Land from Intel

San Diego-based Murphy Development Co. has purchased 30.9 acres of undeveloped land in the Scripps Ranch Business Park from Intel Corp., for an undisclosed price.

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The Business Calendar for the Week of Sept. 22, 2014

Some of the business events planned for the county in the week of Sept. 22, 2014

Barons Market in Murrieta Will Be Company’s Sixth Location

Natural-foods grocer Barons Market plans a spring 2015 opening for a new store set to open in Murrieta, which will be the sixth location for the San Diego-based retailer.

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Friday, September 19

Covario to Sell Its Search and Content Marketing Agency Business

San Diego-based Covario has agreed to sell its search and content marketing agency business to London-based Dentsu Aegis Network, the businesses announced on Sept. 17.

More Internet Regulations Will Hurt, Not Help

Since it was invented, the Internet has become a necessity in the lives of many. With it, we engage in commerce, games, communication, learning, and we start and grow businesses.

Business Friendliness is Nothing to Smile About

In last week’s column I encouraged readers to support the San Diego Regional Chamber of Commerce in their stated effort to make San Diego more business friendly. Little did I know how much work there is to do.

Architectural Genius Is on Display in Historic Point Loma Home

Renowned San Diego architect Frederick Liebhardt’s final design cantilevers down a hillside overlooking the San Diego Yacht Club, Point Loma, the city of San Diego, and the San Diego-Coronado Bridge — it is the definition of timeless architecture.

Covering Insurance Costs Part of the Plan for These Companies

Of the 100 companies featured in the Aug. 18 issue of the San Diego Business Journal named among the “Best Places to Work” in San Diego County, only ten pay 100 percent of an employee’s health insurance premiums.

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Working at Staying Healthy

BENEFITS: Wellness Programs Are Part of Employee-Health Strategy

Employer wellness programs have grown rapidly in recent years in part to tackle skyrocketing health care insurance premium costs, with a side goal of improving the wellness and productivity of the workforce. Biometric screenings are a large part of wellness programs.

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Inaugural Golf Tournament Swings Into Action on Helping Front

Charity for Hope, a multipurpose nonprofit, hosted its inaugural Industry Charity Golf Tournament recently at Sycuan Golf Resort. At the golf tournament, Charity for Hope presented a $5,000 academic scholarship to Leuva Patidar Samaj of USA, a nonprofit organization dedicated to preserving the Indian culture and educational community advancement. Donations from sponsors and more than 80 attendees will fund future community contributions, including existing nonprofit charitable organizations such as orphanages, hospitals, disaster relief foundations and educational funds for the less advantaged.

Contractor Helps Iron Dome System Make the Interceptions

Kratos Defense & Security Solutions Inc. doesn’t exactly shout it from the rooftops, but electronics built by one of the San Diego company’s subsidiaries play a role in Iron Dome, Israel’s missile defense system which has been much in the news with the conflict in Gaza.

San Diego-Centric Artisan Market Planned for Liberty Station

If a local restaurateur’s plans come to fruition, the next big arrival at the ever-evolving Liberty Station, in San Diego’s Point Loma neighborhood, will be a 21,000-square-foot public market that will put dozens of artisans and food vendors under one roof at the former Naval Training Center.

Bank of Southern California Grows in Assets and Earnings

The Bank of Southern California, based in Carmel Valley and with six branches, grew its total assets and net income in the second quarter, reflecting a general recovery the region is finally seeing.

Peregrine Semiconductor Sale Draws a Crowd of Lawyers

LAW: Threat of Shareholder Lawsuits Is Business as Usual For Acquisitions These Day

When San Diego-based Peregrine Semiconductor Corp. announced its decision to sell the company for a 63 percent premium above its market value, at least eight law firms announced investigations into the chip maker’s business the same day, alleging its shareholders were getting short-changed on the offer price.

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SGB Is Preparing for Commercial Roll Out of Jatropha

AGRICULTURE: Co. Improves Crop Yield, Cuts Maturation Time

SGB Inc., a local agricultural biotech company, has closed an $11 million Series C financing round to help drive the commercial roll out of its hybrid crops — a low-cost and sustainable plant-based option for fuel, energy-producing biomass and protein in animal feed.

Sharp Memorial Hospital Rehabilitation Center Renovation Completed

Renovation of the 14,172 square foot Sharp Memorial Hospital Rehabilitation Center is now complete at the location in Kearny Mesa.

The Nassco Shipyard Is Looking to Build Up Its Workforce

LABOR: Commercial Business Including 5 Tankers Drives Need

After half a decade of job cuts, General Dynamics Nassco is changing course by hiring large amounts of workers.

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Truth Is You Don’t Want to Be Lying to This Investigative Tool

SECURITY: Touch Screen Device Works Quickly and Doesn’t Need Administrator

Phil Sprague has seen his share of liars in his career, having worked as a police officer and a criminal investigator.

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Sanford-Burnham Names 5 New Board Members

Sanford-Burnham Medical Research Institute announced the election of five new members to its Board of Trustees bringing the total to 21 members.

Opponents of Wage Hike Turn in Petition

Opponents of a planned hike in San Diego’s minimum wage said they have collected more than 56,000 petition signatures, well above the 34,000 required to place the issue before voters.

Local Cos. Get Defense-Related Contracts

The Pentagon announced that it awarded several military construction contracts to San Diego County companies.

Groups Joining the Battle Over Proposition 46

LAW: Measure Said To Increase Cost of Care by $9.9 Billion

Local government organizations and business coalitions are banding together to oppose a health care ballot initiative they say is fiscally irresponsible and damaging to taxpayers.

County’s Roads Are Rough on Cars, Wallets

TRIP, a national transportation research group in Washington, D.C., releases a report about California’s horrible road conditions, and San Diego is among the counties included in the survey.

Make Room for More In Mission Valley

PROPERTY: New Mixed-Use, Apartments Planned for Area

Two more projects were recently added to a growing list of developments in the works for San Diego’s already-busy Mission Valley neighborhood.

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Contender Is Ready For Food-Safety Fight

BIOTECH: Product’s First Target is Poultry Processing

Pure Bioscience Inc., a company in El Cajon, has acquired $7.9 million in private financing to continue development of its nontoxic antimicrobial, SDC, which can be sprayed directly on food to kill harmful bacteria such as salmonella and E. coli.

Growing problem

PRODUCTION: Advanced Manufacturing Is Increasing But Will Its Worker Pool?

The work at Rancho Bernardo’s D&K Engineering isn’t easy to classify.

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Pop-Up Plaza Brings Input on Urban Use

PROPERTY: Carlsbad Tries To Revitalize Small Spaces

The leader of Urban Place Consulting Group likens it to the urban-planning version of what the software industry calls beta testing.

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Legacy Partners Planning $6.5 Million Upgrade of Sorrento Office Campus

Legacy Partners Commercial Inc. plans more than $6.5 million in renovations at Sorrento Canyon Technology Center in Sorrento Mesa, which it purchased earlier this year in a joint venture with an affiliate of Goldman Sachs.

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Barons Market in Murrieta Will Be the Company’s 6th Location

Natural-foods grocer Barons Market plans a spring 2015 opening for a new store set to open in Murrieta, which will be the sixth location for the San Diego-based retailer.

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Murphy Development Purchases Scripps Ranch Land from Intel

San Diego-based Murphy Development Co. has purchased 30.9 acres of undeveloped land in the Scripps Ranch Business Park from Intel Corp., for an undisclosed price.

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Business Calendar for Week of Sept. 22, 2014

Some of the business events planned in the county for the week of Sept. 22, 2014.

Thursday, September 18

UC Board of Regents Approves Creation of $250M VC Fund

Aiming to boost innovation and entrepreneurship in San Diego, University of California has announced plans for a venture capital fund to finance startups created on campuses, offering financial backing to the university-housed projects of which VC firms often steer clear.

Qualcomm to Have Big Role in ODG's Smart Glasses

Move over, Google Glass. A San Francisco-based company called ODG announced Sept. 18 that it plans to sell smart glasses powered by a high-end Snapdragon chip and Vuforia software, both from Qualcomm Inc.

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Realty Income Conducting $250 Million Senior Note Offering

Escondido-based Realty Income Corp. is conducting a public offering of $250 million in senior unsecured notes, expected to close on Sept. 23.

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Legend3D Announces Departure of a Top Exec

Legend3D Inc., the Carlsbad company that converts two dimensional films to three-dimensional formats for movie studios, said founder, chief technical officer and chief creative officer Barry Sandrew left the company “to focus on entrepreneurial endeavors.”

Precision One Medical Acquired By Alabama Company

Precision One Medical Inc., a privately-held manufacturer of dental implants and components in Oceanside, was acquired by BioHorizons, an Alabama company that operates in the same industry.

PowerGenix to Sell Equity Stake to Nevada Company

PowerGenix, a San Diego developer and maker of nickel-zinc rechargeable batteries, entered into an agreement to sell an undisclosed equity stake to Nevada-based Blue Earth Inc. for $10 million, the latter firm announced.

Median Household Income Falls to $61,426 in County

If you think you’re coming up short in the never-ending effort to make ends meet, you’re not alone, looking at a recent report from the U.S. Census Bureau.

Poway Medical Office Condos Sell for $6 Million

Aranguren Family Trust of Palos Verdes Estates has purchased five medical office condominium units in Poway for $6 million, according to CoStar Group and public data.

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Wednesday, September 17

Minimum Wage Opponents Gather 56,000 Petition Signatures

Opponents of a planned hike in San Diego’s minimum wage said they have collected more than 56,000 petition signatures, well above the 34,000 required to place the issue before voters.

Lionstone Investments Acquires San Diego Tech Center

Houston-based Lionstone Investments, on behalf of an institutional client, has acquired the nine-building San Diego Tech Center office park in Sorrento Mesa for an undisclosed price.

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Isis Pharmaceuticals Earns $4 Million Milestone

Isis Pharmaceuticals Inc. announced that it has earned a $4 million milestone payment from San Fransisco-based Achaogen Inc. associated with the initiation of a Phase 3 study of plazomicin in patients with serious multi-drug resistant bacterial infections.

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Entropic Communications Hires Bank to Help Evaluate 'Strategic Options'

San Diego chipmaker Entropic Communications Inc. said on Sept. 16 that it hired an investment bank to help it evaluate “strategic options to enhance shareholder value.”

El Cajon Apartment Building Sells for $8.2 Million

Heritage Group Partners of Newport Beach has acquired The Heritage Apartments, a 56-unit apartment building in El Cajon, for $8.2 million, according to CoStar Group and public data.

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Huntington Capital Sells One of Its Portfolio Companies

Huntington Capital, a San Diego private equity firm, said one of its portfolio companies, Residential Design Services, Inc., an outsourced interior designer, was acquired by another private equity firm, resulting in “a high return on investment.”

Imagenetix Inc. Emerges From Bankruptcy

Imagenetix Inc., a San Diego-based company developing over-the-counter topical creams, skincare products and nutritional supplements, announced that its post-bankruptcy Plan of Reorganization was confirmed and all provisions of the plan were approved by Judge Margaret Mann of the United States Bankruptcy Court for the Southern District of California with an effective date of September 16, 2014, enabling the company to emerge from bankruptcy.

Kratos Subsidiary Receives $4.8 Million Order From Navy

Kratos Defense & Security Solutions Inc. said on Sept. 16 that its Micro Systems subsidiary received a $4.8 million delivery order from the U.S. Navy for unmanned aerial drone system command-and-control systems and services.

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Tuesday, September 16

Research Grant Helps Texas Take One More Local Company

San Diego-based Curtana Pharmaceuticals Inc. has announced that it will be relocating to Austin, Texas, following a $7.6 million grant from the Cancer Prevention and Research Institute of Texas (CPRIT) to fund the company’s lead cancer therapy.

California Bank & Trust Expands Nixon's Role to Include Northern California

Tory Nixon, who heads up the San Diego division for California Bank & Trust, was named to oversee the bank’s Northern California division as well.

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Denovo Acquires Oncology Drug From Eli Lilly

San Diego-based Denovo Biopharma LLC announced that it has acquired enzastaurin, a late-stage oncology drug, from Eli Lilly and Co.

San Diego Firm Buys Lake Elsinore Retail Center for $33.5 Million

HELF Investments LP of San Diego has purchased Canyon Hills Marketplace, a retail center in Lake Elsinore, for $33.5 million, according to brokerage company CBRE Group Inc., which represented the buyer and seller.

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Target Plans to Open Small-Format Store in South Park

Target Corp. plans to open a location of its new small-format TargetExpress in San Diego’s South Park neighborhood in July 2015.

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RQ Construction Gets $6.7 Million Navy Deal

The U.S. Navy said on Sept. 16 that it awarded Carlsbad-based RQ Construction LLC a $6.7 million task order to renovate the sterile processing department at Naval Medical Center San Diego in Balboa Park.

AT&T Makes Gains With U-Verse

AT&T said it expanded its U-verse customer base in the San Diego region by about 4,200 in July, part of an increase of 187,000 customers nationwide during the same month.

Pure Financial Advisors Passes $1 Billion Mark in Assets Managed

Pure Financial Advisors Inc., a Mission Valley based wealth management firm, said it surpassed the $1 billion mark in assets under management this year while increasing its client base to 1,200.

Monday, September 15

Where the Catcher's Mask Meets the Wrestling Masks: Fiesta Padres

The San Diego Padres will mark Mexican Independence Day and Hispanic Heritage Month at Tuesday’s game against the Philadelphia Phillies with some Mexican-themed spectacle and celebration.

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UC Regents to Consider Establishing VC Fund

The University of California Board of Regents is set to hear a proposal that would establish a multimillion-dollar venture capital fund to back startups founded on student and faculty research.

FDA Approves Immunodeficiency Treatment From Halozyme Therapeutics And Baxter

San Diego-based Halozyme Therapeutics and Baxter International Inc. announced that the United States Food and Drug Administration approved Baxter’s subcutaneous treatment, HYQVIA, for adult patients with primary immunodeficiency.

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Youngevity Announces Closing of Subsidary's Private Placement Offering

Youngevity International Inc., a Chula Vista direct marketing business of gourmet coffees and other products, said is wholly owned subsidiary, CLR Roasters, completed a previously announced $4.35 million sale of secured convertible notes and warrants for an aggregate total of $4.75 million.

Douglas Wilson Cos. Acquires Spring Valley Development Land for $5.7 Million

San Diego-based Douglas Wilson Cos. has purchased 50 acres of land in Spring Valley for $5.7 million, with plans for development of residential and neighborhood-serving commercial components.

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Opera Outreach Coming to a Neighborhood Near You

In an effort to expand its audience, the revitalized San Diego Opera, which was rescued from liquidation in April, launched a free outreach program called Opera Exposed.

ResMed Integrates Its Sleep Apnea Monitoring With Network's Electronic Medical Records

ResMed, a San Diego-based company that develops medical devices for sleep apnea and other sleep-related breathing disorders, announced that its AirView compliance management is now connected to Fairview Health Services' Epic EHR system, enabling up to date delivery of sleep apnea patient data for use by the medical staff of Fairview, a network of hospitals and clinics throughout Minnesota.

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San Diego Office of Tetra Tech gets $7.9M Navy Deal

The U.S. Navy said on Sept. 12 that it awarded the San Diego office of Tetra Tech EC a $7.9 million deal to conduct munitions clearance at the former Adak Naval Air Facility in Adak, Alaska.

Wal-Mart Hiring 85 for Poway Store Expansion

Wal-Mart Stores Inc. plans to hire 85 new workers as part of an expansion underway at its Poway Walmart location, set for completion this fall.

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Realty Income Officials Ring Closing Bell at NYSE

Leaders of Realty Income Corp. recently rang the closing bell of the New York Stock Exchange, marking the Escondido-based company’s 20th anniversary as a publicly traded company.

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Sunday, September 14

Ceremonial First Cut of Steel Made on Nassco 5 Ship Project

Mayor Kevin Faulconer made the ceremonial first cut of steel for an order of five commercial tanker ships being built in San Diego by General Dynamics Nassco.

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Emmes Completes $10M Renovation of Downtown Tower

Emmes Realty Services recently completed a $10 million renovation of 1 Columbia Place, the 27-story downtown San Diego office tower that it purchased in 2012 for approximately $135 million.

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Viking Therapeutics Inc. Prices Planned IPO

San Diego-based Viking Therapeutics Inc., a biotech company developing treatments for diabetes and metabolic disorders, has announced the estimated pricing of its initial public offering at $55 million – 5 million shares at a price range of $10 to $12.

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RF Industries Ltd. Reports Third Quarter Results

RF Industries Ltd., a San Diego-based maker and distributor of wireless cable assemblies, reported fiscal 2014 third quarter sales of $5.5 million, down from $9.4 million in sales for the like quarter of 2013.

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SmartDrive Systems Moves Headquarters to New S.D. Location

SmartDrive Systems, a San Diego provider of video recording systems aimed at helping to improve vehicle fleet driver performance, said it relocated to larger headquarters offices in Sorrento Valley.

The Business Events Calendar for the Week of Sept. 15, 2014

Some of the business events scheduled in the county for the week of Sept. 15, 2014.

Volcano Corp. Announces Launch of New Tool for Coronary Catheterizations

Volcano Corp. announced that it will be launching SyncVision, a precision guidance tool for coronary catheterizations, at the 27th Annual Transcatheter Cardiovascular Therapeutics (TCT) scientific symposium, being held in Washington, DC from September 13 to September 17.

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Miramar College Opens $16.5M Firefighter Training Center

San Diego Community College District officials said the 26,000-square-foot center includes state-of-the-art classrooms, laboratories, a command center, equipment staging and outdoor training areas, including a four-story drill tower.

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New Alpine Store is Fifth Location for Barons Market

Specialty grocer Barons Market recently opened its newest store at 1347 Tavern Road in Alpine. It is the fifth location for the San Diego-based retailer.

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Friday, September 12

Ceremonial First Cut of Steel Is Made on Nassco Ship Project

Mayor Kevin Faulconer made the ceremonial first cut of steel for an order of five commercial tanker ships being built in San Diego by General Dynamics Nassco.

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Emmes Completes $10 Million Renovation of Downtown Tower

Emmes Realty Services recently completed a $10 million renovation of 1 Columbia Place, the 27-story downtown San Diego office tower that it purchased in 2012 for approximately $135 million.

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Volcano Announces New Tool for Coronary Catheterizations

Volcano Corp. announced that it will be launching SyncVision, a precision guidance tool for coronary catheterizations, at the 27th Annual Transcatheter Cardiovascular Therapeutics (TCT) scientific symposium, being held in Washington, DC from September 13 to September 17.

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SmartDrive Moves Headquarters to New Location in S.D.

SmartDrive Systems, a San Diego provider of video recording systems aimed at helping to improve vehicle fleet driver performance, said it relocated to larger headquarters offices in Sorrento Valley.

Alpine Addition is Fifth Location for Barons Market

Specialty grocer Barons Market recently opened its newest store at 1347 Tavern Road in Alpine.

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Miramar College Opens $16.5 Million Firefighter Training Center

San Diego Miramar College recently opened a newly completed, $16.5 million training center for fire technology and emergency medical technician programs.

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RF Industries Reports Q3 Results

RF Industries Ltd., a San Diego-based maker and distributor of wireless cable assemblies, reported fiscal 2014 third quarter sales of $5.5 million, down from $9.4 million in sales for the like quarter of 2013.

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Viking Therapeutics Prices Planned IPO

San Diego-based Viking Therapeutics Inc., a biotech company developing treatments for diabetes and metabolic disorders, has announced the estimated pricing of its initial public offering at $55 million – 5 million shares at a price range of $10 to $12.

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Export-Import Bank Is a Vital Tool for Trade

Economic growth, job creation, and maintaining global competitiveness have to be at the top of any congressional priority list. The Export-Import Bank is a key component in our country’s competitiveness strategy, supporting hundreds of thousands of jobs while promoting economic growth.

Market Has Spoken: Advocate for Small Business

Late last month the San Diego Regional Chamber of Commerce announced that the organization was taking a new direction: political activism, advocacy and improved communications with members and nonmembers alike. The chamber’s ultimate goal is to make San Diego the most business friendly community in California.

Business Events Calendar for Week of Sept. 15, 2014

Some of the business events scheduled in the county for the week of Sept. 15, 2014.

Executive Q&A: Greg Lucier

In a single decade, Greg Lucier transformed a small biotech startup, Invitrogen Corp., with 1,500 employees into Life Technologies Corp., an international giant with more than 12,000 employees, 5,000 patents, 50,000 products and nearly $4 billion in sales in more than 180 countries.

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When Funds Flow

FINANCE: Biotechs Still Eyeing IPOs; VC Backing Is Strong in 2nd Quarter

Venture capital investment in the biotechnology sector of San Diego continues to climb despite the industry’s reputation of being volatile and risky.

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Help Turn the Tide on Trash By Joining Coastal Cleanup Day

I Love A Clean San Diego is celebrating its 30th anniversary Sept. 20 by hosting Coastal Cleanup Day.

Higgs Fletcher & Mack Celebrates 75 Years in World-Class Style

Higgs Fletcher & Mack LLP is 75 years young this year and last week held a fine reception to recognize that in its newly remodeled, 26th floor offices downtown.

SDG&E Statistics Put in a Plug for Electric Vehicle Use

Electric vehicles are making inroads on local roads.

Expanding Health Care Options Include Crossing the Border

INSURANCE: Plan Provides Primary Care In Mexico for Workers

A Chula Vista-based company is bringing a new offering to the table providing cross-border health options for people living and working on both sides of the U.S.-Mexico border.

Accion San Diego Receives Record Treasury Department Grant

Accion San Diego, the local microfinance lender that makes loans from $300 to $75,000, recently received the largest grant in its 20-year history when the U.S. Treasury Department gave it $880,000.

ResMed Inc. and APEX Medical Corp. Settle Patent Disputes

ResMed Inc. and APEX Medical Corp. have agreed to a confidential settlement resolving their outstanding patent disputes.

Venture Group’s New President Knows the Scene and San Diego

FINANCE: Mike Krenn Sees Opportunities, Expects More Investment Activity

The San Diego Venture Group named Mike Krenn, a longtime business-development professional, as its new full-time president.

Company Sees Its Future in World of Quantum Computers

TECH: Qubitekk Uses Lasers, Photons To Aid in Encryption

The mind-bending world of quantum computers and quantum encryption has a potential supplier in North County.

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Abacus Data Opens Its Third Office

San Diego-based Abacus Data Systems Inc., which offers information technology services to the legal community, said on Sept. 4 that it opened a third office with 5,300 square feet and 50 work stations.

SDG&E Seeks More Local Energy Sources

San Diego Gas & Electric announced it is seeking between 500 and 800 megawatts of new local resources to help replace the power previously provided by the San Onofre Nuclear Generating Station as well as the retirement of older, coastal power plants, the company said.

County Hotel Deal Pricing Puts It in Top Spot

TOURISM: Good Room Metrics Boost Prices of Properties

San Diego topped all other California counties for the value of hotel property sales deals completed in the first half of 2014, according to the latest data from Atlas Hospitality Group, and the local region will likely see increasing scrutiny from investors amid continuing improvement in the hospitality economy.

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Rankings Paint a Picture Of San Diego

San Diego is in the spotlight, making a lot of interesting lists these days … Consumer rating website betterdoctor.com ranks our region No. 25 based on the ratio of primary care doctors to the population. Greenville, S.C., tops that list with a doc for every 377 residents.

Region’s Exports Hit Record Level in 2013

TRADE: Goods Go Mostly To Mexico’s Maquiladoras

Exports emanating from San Diego grew 4 percent last year to a record $17.9 billion, says a recent report from the U.S. Department of Commerce’s International Trade Administration.

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Downtown Project Pipeline Wide Open

PROPERTY: Residential Plans Are Coming to Life

Developers have submitted plans for a 19-story mixed-use project that would bring 320 apartment units to East Village, the latest of several developments planned or under construction in the recently bustling neighborhood of downtown San Diego.

City Council Considers Increasing Taxi Permits

TRANSPORT: Cab Owner Says Market Can’t Handle More

The unhappiness in taxicab owner Tony Hueso’s voice is apparent as he sums up the plan to expand the number of cabs on the streets of San Diego.

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Rising Tourist Tide

TOURISM: Midway and Maritime Museum Draw Crowds to Their Ships

At a spot on the downtown waterfront, within sight of the exact place where Juan Rodriguez Cabrillo first sailed into what is now called San Diego Bay in 1542, workers are busily assembling a full-scale replica of the explorer’s Spanish galleon, known as the San Salvador.

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Thursday, September 11

Local Companies Get Defense-Related Construction Contracts

The Pentagon announced that it awarded several military construction contracts to San Diego County companies between Sept. 9 and Sept. 11.

FDA Approves Orexigen's Weight-Loss Drug

The U.S. Food and Drug Administration announced that it approved a weight-loss drug developed by La Jolla-based Orexigen Therapeutics Inc.

Gap Intelligence Acquires Quixel Research

Gap Intelligence, a San Diego-based market intelligence business, has acquired Quixel Research LLC, a market forecasting firm, for undisclosed terms. Gap Intelligence made the announcement Sept. 8.

SeaWorld Entertainment Hit With Shareholder Lawsuit

SeaWorld Entertainment Inc. was hit with a shareholder lawsuit alleging the operator of three SeaWorld parks, including the original venue at Mission Bay, mislead investors by publicly stating declining attendance last year was caused by bad weather when it actually was the result of the documentary movie “Blackfish,” which alleged the company used questionable practices in the handling of its killer whales.

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Median Housing Price Increases in August

Two reports tracking the housing market show local median prices continued rising in August.

General Dynamics Nassco Gets $7M Navy Ship Maintenance Contract

The U.S. Navy said that it awarded General Dynamics Nassco $7 million to cover additional maintenance work on the Wasp-class amphibious assault ship USS Boxer.

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Wednesday, September 10

San Diego City Employees Retirement System Reports Return of 17.3%

The San Diego City Employees Retirement System, the public pension fund for the city of San Diego, the San Diego Unified Port District, and the San Diego County Regional Airport Authority, said the $7 billion fund had an annual return, net of fees, of 17.3 percent for the fiscal year ended June 30.

Sempra Receives a Key Export Aprroval for Cameron Liquefied Natural Gas Plant

Sempra Energy said its Cameron liquefied natural gas plant in Louisiana received final approval from the U.S. Department of Energy, allowing it to export gas to countries that do not have a free trade agreement with the United States.

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Achates Power Announces It Is Issuing $21.2M in Stock

Sorrento Valley-based Achates Power Inc. told U.S. securities regulators in a Sept. 5 filing that it was issuing $21.2 million in stock.

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MabVax Therapeutics Announces Agreements on Product Development

MabVax Therapeutics Holdings Inc., a clinical stage oncology drug development company, announced that it has entered into agreements with Memorial Sloan Kettering Cancer Center and Juno Therapeutics for the development of therapeutic products using antibody targeting sequences derived from the fully-human antibodies discovered using the MabVax antibody discovery platform.

Avelas Biosciences Raises $7.4M in Funding Round

Avelas Biosciences Inc., a San Diego-based cancer diagnostic company, announced the closing of the second tranche of its Series B financing bringing the total funds raised in the round to $7.4 million.

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Industrial Land in San Marcos Sells for $11 Million

A Los Angeles-based entity of homebuilder D.R. Horton has purchased approximately 8.3 acres of land in San Marcos for $11 million, according to CoStar Group and public data.

General Atomics ASI Gets $40.9M Defense Deal

The U.S. Air Force said on Sept. 10 that it awarded General Atomics Aeronautical Systems Inc. a $40.9 million order to develop requirements description documents for two versions of the Reaper unmanned aircraft system.

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Cemetery Building in San Diego Sells for $8.5 Million

Northstar Memorial Group of Houston has purchased a cemetery and mausoleum building at Greenwood Memorial cemetery in southeast San Diego for approximately $8.5 million, according to CoStar Group and public data.

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Pulse Electronics Sees Big Fluctuation in Stock

Shares of Pulse Electronics Corp., a San Diego manufacturer of electronic components in China, skyrocketed 53 percent on Sept. 9 to $3.10 before falling back to $2.50 as of mid-day Sept. 10.

Chula Vista Apartment Property Sells for $9.5 Million

San Diego-based Cova Management Inc. has purchased the 62-unit Castle Park Garden Apartments in Chula Vista for $9.5 million, according to CoStar Group and public data

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Tuesday, September 9

Qualcomm Aims for Low-End Markets With New Snapdragon 210

Qualcomm Inc. announced Sept. 9 that it was introducing a new model of processor, the Snapdragon 210, for entry-level smartphones and tablets.

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Novatel Receives Investment From HC2

Novatel Wireless Inc., the San Diego maker of wireless solutions and modems, said it completed an investment transaction for $23.7 million with a subsidiary of HC2 Holdings Inc., a diversified holding company with operating subsidiaries in the United States and the United Kingdom.

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SGB Reports Success With Crop; Co. Closes $11M Series C Financing Round

SGB Inc., a San Diego-based agricultural biotechnology and seed company, closed an $11 million Series C financing round.

Quick Pitch Contest Announces Group of Finalists

The San Diego Quick Pitch Competition, now in its eighth year and renamed the John G. Watson Quick Pitch Competition, announced its field of 10 finalist startups.

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J. Craig Venter Institute Names Chief Operating Officer

The J. Craig Venter Institute (JCVI), a not-for-profit genomic research organization, announced today that they have hired Nicole DeBerg as chief operating officer.

AMC Theatres Completes Renovation at Chula Vista Location

Kansas-based AMC Theatres has completed an extensive renovation of its AMC Chula Vista 10 movie theater, located at 555 Broadway in Chula Vista.

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Carlsbad Office Property Housing Bank Sells for $7.2 Million

San Diego investor and developer Dan Floit has acquired a Carlsbad office building housing Bank of America for $7.2 million, according to brokerage company CBRE Group Inc.

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Monday, September 8

ViaSat Settles Its Lawsuits Against 2 Companies for More Than $100M

The legal battle that pitted Carlsbad-based ViaSat Inc. against Space Systems/Loral and Loral Space and Communications Inc. has reached its end, the companies acknowledged.

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National Funding Secures Loan Agreement for $50M

National Funding, a San Diego-based private small business lender, said it entered into a loan agreement for $50 million with CapitalSource, a division of Pacific Western Bank, based in Los Angeles and a specialist in loans to small and mid-market businesses.

Long-vacant Pernicano’s Building Goes on the Market

The long-vacant Pernicano’s restaurant building, at 3840 Sixth Ave. in Hillcrest, is being placed up for sale.

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SDG&E Seeking More Local Energy Resources

San Diego Gas & Electric announced it is seeking between 500 and 800 megawatts of new local resources to help replace the power previously provided by the San Onofre Nuclear Generating Station as well as the retirement of older, coastal power plants, the company said.

Carlsbad Office Building Sells for $15.25 Million

An entity listed as RREF II-CP Crossings JV LLC has purchased the Crossings Corporate Center office building in Carlsbad for $15.25 million, according to CoStar Group and public data.

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Aethlon and Subsidiary Announce Development of Cancer Diagnostic

San Diego-based Aethlon Medical Inc. and its diagnostic subsidiary, Exosome Sciences Inc. announced that their researchers have developed and initially validated a diagnostic platform that could identify the presence of cancer in analyzed blood samples.

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La Jolla Commercial Properties Sold for $6.17 Million

USA Properties Inc. of San Diego has purchased several retail buildings with adjacent land in La Jolla for approximately $6.17 million, according to brokerage company Cushman & Wakefield Inc.

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Astute Medical Inc. Receives FDA Clearance for Biomarker-Based Immunoassay

San Diego-based Astute Medical Inc. today announced that it has received clearance from the Food and Drug Administration to commence sales of its first biomarker-based immunoassay, NephroCheck.

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Sunday, September 7

ResMed, APEX Medical Settle Patent Disputes

ResMed Inc. and APEX Medical Corp. have agreed to a confidential settlement resolving their outstanding patent disputes.

San Diego City Council Supports Effort to Host America's Cup

The San Diego City Council approved a resolution supporting the city's interest in hosting the America’s Cup in summer 2017.

Gafcon Relocates Headquarters to Sorrento Valley

San Diego-based Gafcon Inc., a provider of construction management and consulting services, has relocated its headquarters from downtown to Sorrento Valley.

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San Diego Retail Center Sells for $6.37 Million

Piazza Santaluz LLC of San Diego has purchased a two-building retail center near the city’s Black Mountain Ranch neighborhood for approximately $6.37 million, according to CoStar Group and public data.

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The Business Calendar For the Week of Sept. 8, 2014

Some of the events scheduled for the week of Sept. 8, 2014.

Carlsbad Commercial Property Sells for $5.8 Million

Sunwood Pacific Ridge LLC of San Diego has purchased Pacific Ridge Commerce Center in Carlsbad for $5.8 million, with plans for significant renovations of the office and industrial park.

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Abacus Data Systems Continues Expansion With Third Office

San Diego-based Abacus Data Systems Inc., which offers information technology services to the legal community, said on Sept. 4 that it opened a third office with 5,300 square feet and 50 work stations.

MystartupXX Wins National SBA Honor, $50,000 Prize

MystartupXX, a La Jolla-based organization aimed at helping women entrepreneurs in high tech startup businesses, was among 50 winners selected nationally by the U.S. Small Business Administration’s first Growth Accelerator Fund competition.

Milholland Solar and Electric Relocates to Larger El Cajon Facility

Milholland Solar and Electric, a solar installation and electrical contracting company, has relocated from Kearny Mesa to a larger facility in El Cajon.

Friday, September 5

La Jolla-Based MystartupXX Earns National SBA Honor

MystartupXX, a La Jolla-based organization aimed at helping women entrepreneurs in high tech startup businesses, was among 50 winners selected nationally by the U.S. Small Business Administration’s first Growth Accelerator Fund competition.

Winning Strategies Are Attracting Millennials

San Diego’s been noticed recently for the growth of our startup community, prompting Forbes to name San Diego the No. 1 city to be a startup. The intellectual capital coming from our three top universities and our 16 business incubators have helped nurture this growth. Overall, business innovation is thriving in San Diego.

ResMed, APEX Settle Patent Disputes

San Diego--based ResMed Inc. and APEX Medical Corp. have agreed to a confidential settlement resolving their outstanding patent disputes.

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BOMA Equips Foster Kids for Their Educational Journey

The Building Owners and Management Association, or BOMA, recently collected a total of 206 backpacks, nearly 1,400 school supplies and raised more than $500 to donate to Promises2Kids to help make the back-to-school season brighter for the foster youth of San Diego. Kudos to BOMA for a successful backpack drive.

Credit Union Membership Shows Biggest Jump in 25 Years

FINANCE: Low Rates On Loans, Higher Rates On Savings Draw Crowd

Credit unions continue to gain converts and recently surpassed the 100 million mark in membership, according to the Credit Union National Association, the trade group representing nearly 7,000 credit unions.

Cost of Compliance: Small Community Banks Say Dodd-Frank Reforms Are Unfairly Applied

Now in its fifth year, the Dodd-Frank banking reform law has had a profound effect on every bank, but smaller community banks say they’re feeling the impact from the added regulations far more than larger banks.

Gafcon Relocates Headquarters From Downtown to Sorrento Valley

San Diego-based Gafcon Inc., a provider of construction management and consulting services, has relocated its headquarters from downtown to Sorrento Valley.

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San Pasqual Has a Perfect Fit for Our Mediterranean Climate

When my three kids were little we had annual passes to what was then called the Wild Animal Park, now known as the San Diego Zoo Safari Park. It was a godsend, and some of our fondest memories were around our time there, especially at Christmas.

San Diego Retail Property Sells for $6.37 Million

Piazza Santaluz LLC of San Diego has purchased a two-building retail center near the city’s Black Mountain Ranch neighborhood for approximately $6.37 million.

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It Is a Lively Commercial Scene in and Around Downtown

If it seems like there’s been lots of churn lately in downtown San Diego’s commercial scene, there’s even more on the way in the Gaslamp Quarter and Little Italy.

Sensors Are a ‘Hidden Talent’ Worth Noticing

How is an unmanned aircraft like a Sports Illustrated swimsuit model? Both are good at getting attention.

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San Diego City Council Supports Effort to Host America's Cup in 2017

The San Diego City Council approved a resolution supporting the city's interest in hosting the America’s Cup in summer 2017.

San Diego-Based Abacus Data Systems Continues Expansion

San Diego-based Abacus Data Systems Inc. has opened a third office as it continues to expand its information technology services to the legal community.

Company’s Expanding Roles Bring a Change in Its Name

MEDICINE: Millennium Health Brings Three Sets Of Tools to the Table

San Diego-based Millennium Laboratories Inc. announced recently that it has changed its name to Millennium Health LLC.

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Company Develops Prototype for Treatment of Rare Skin Diseases

Biotech: The Device Is a Less Expensive Solution For Incurable Skin Disorders

Martyn Gross has suffered from psoriasis for most of his life, particularly on the difficult-to-treat regions of the hand and feet. After years of trying costly and ineffective treatments from uncomfortable phototherapy sessions in cold medical facilities to topical creams that wash off too easily, Gross decided to develop a handheld light therapy device to treat himself at home.

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Omnitracs To Buy XRS For $178 Million

Omnitracs LLC, a spinoff business of Qualcomm Inc. that was acquired by Vista Equity Partners last year and is relocating to Dallas, said it agreed to acquire XRS Corp., a Minneapolis-based firm that makes software for mobile fleet management, for $5.60 per share or $178 million.

Small Trucking Cos. Face A Rough Road in State

LOGISTICS: They’re Dealing With Fuel Costs And More Regulations

Gabriel Zavalza Jr. sees prospects dimming for small, independent trucking companies in California during the next 12 years.

Downtown’s Residential Options Keep On Growing

REAL ESTATE: Area Delivers Urban Appeal To Young Millennials

Downtown San Diego currently has about 2,000 apartments and condominiums in various stages of planning and construction, and two newly proposed mixed-use projects are slated to add another 386 to that total.

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Bill Aims to Keep Fishiness Out Of Fish Business

Senate Bill 1138, targeting the deliberate mislabeling of seafood, is one recent piece of lawmaking that could impact the local fishing industry, not to mention anyone involved in the food delivery chain.

Targeted Medicine Changes Clinical Trials

HEALTH: Sequencing and Analytics Part of Process

Recent trends in biotech research point to faster, more efficient and less costly drug development for pharmaceutical companies.

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Planned Hotels Would Be Boost for Oceanside

TOURISM: City Will Get Much Needed Meeting Space

A $150 million resort development being planned in downtown Oceanside includes what would be that city’s first full-service hotel, as it seeks its share of a growing influx of North County coastal visitors and related economic benefits.

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Bond Market Snaps Up Sandag’s Latest Offering

FINANCE: Sale Brings In $54M Above the Face Value

A yield-hungry market recently gobbled up $350 million in bonds issued by the San Diego Association of Governments that pays an average of 3.85 percent over the 34 years the debt will be in place.

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Drone City

TECH: Elements in Place To Keep S.D. at Forefront Of Robotics Revolution

San Diego is becoming a force to be reckoned with in the field of robotics and remotely operated vehicles.

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Carlsbad Office Property Sells for $5.8 Million

Sunwood Pacific Ridge LLC of San Diego has purchased Pacific Ridge Commerce Center in Carlsbad for $5.8 million, with plans for significant renovations of the office and industrial park.

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Milholland Solar and Electric Relocates to Larger Facility in El Cajon

Milholland Solar and Electric, a solar installation and electrical contracting company, has relocated from Kearny Mesa to a larger facility in El Cajon.

Business Calendar for Week of Sept. 8, 2014

Some of the business events scheduled in the county for the week of Sept. 8, 2014.

Thursday, September 4

Jack in the Box Inc. Announces New President

Jack in the Box Inc. named Frances Allen as its president effective Oct. 27.

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Ajinomoto Althea Receives OK for Testing Drugs for European Market

San Diego-based Ajinomoto Althea Inc., a biopharmaceutical contract development and manufacturing company, has received clearance to test its commercial drug products for the European market.

Padres Extend Player Development Contracts With Minor League Teams

The San Diego Padres extended player development contracts with their AAA and AA teams in El Paso and San Antonio, Texas.

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Realty Income Names New Chief Operating Officer

Escondido-based Realty Income Corp. has appointed Sumit Roy to the post of chief operating officer, effective Oct. 1.

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WD-40 Completes Acquisition of UK Company

WD-40 Co., the San Diego based maker of lubricants and other household products, said it completed the acquisition of the business and assets of GT85 Ltd., a United Kingdom based company that sells multipurpose maintenance products.

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Mirati Begins Phase One of Trials for Tumor Treatment

Mirati Therapeutics Inc. announced that the first patient has been dosed in its phase one clinical study for the treatment of patients with advanced solid tumors.

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Huntington Ingalls Industries Gets $24.2M Navy Contract

The U.S. Navy awarded Huntington Ingalls Industries Inc. a $24.2 million contract modification to cover maintenance, alterations and modifications to the aircraft carrier USS Ronald Reagan.

DSW Opens Its Newest Local Shoe Store in Santee

Retailer DSW Inc. has opened the latest local location of its DSW Designer Shoe Warehouse at Santee Trolley Square.

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Wednesday, September 3

Halozyme Drug Candidate Granted Fast Track Status

Halozyme Therapeutics Inc. announced that the Food and Drug Administration has granted Fast Track designation for its program investigating a treatment for patients with metastatic pancreatic cancer.

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RuiYi Inc. Names Saad to CFO Position

RuiYi Inc. announced today the appointment of Mark Saad as chief financial officer.

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InfoSonics Corp. Introduces Its First 4G LTE Smartphone

InfoSonics Corp. took the wraps off of its first 4G LTE smartphone Sept. 2.

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Succession Capital Acquires Colorado Jewelry Maker

Succession Capital Inc., a San Diego based private equity firm, said it acquired Sienna Sky Jewelry, a maker and distributor of fashion jewelry based in Longmont, Col. for an undisclosed price.

OneAmerica Financial Partners Completes Acquisition of Locally Based Retirement Services Unit

OneAmerica Financial Partners Inc., an Indianapolis-based insurance company, said it completed the acquisition of City National Bank’s’ retirement services record keeping unit in San Diego.

San Diego Apartment Building Sells for $3.95 Million

Investor Matthew Rattner has purchased the 29-unit Windsong Apartments, in San Diego’s Rolando/SDSU neighborhood, for $3.95 million, according to brokerage firm Apartment Consultants Inc. (ACI), which represented the buyer and seller.

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Marilyn Monroe Spa Chain Opens Latest Location in Carmel Valley

Florida-based Marilyn Monroe Spas, a national chain with salon services, beauty products and related offerings, recently opened a new location of its Marilyn Monroe 20 Nail Lounge at Del Mar Highlands Town Center, in San Diego’s Carmel Valley neighborhood.

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Tuesday, September 2

Omnitracs to Buy XRS for $178 Million

Omnitracs LLC, a spinoff business of Qualcomm Inc. that was acquired by Vista Equity Partners last year and is relocating to Dallas, said it agreed to acquire XRS Corp., a Minneapolis based firm that makes software for mobile fleet management, for $5.60 per share or $178 million.

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Legend 3D Closes $10M Series C Stock Offering

Legend 3D, the San Diego based business that converts two-dimensional film to three-dimensional formats, closed on a $10 million Series C stock offering, led by current investors, Northwater Capital Management Inc. of Toronto and Monaco-based Augustus Ventures Limited.

BST Nano Acquires Ellsworth Handcrafted Bicycles

BST Nano Carbon, a San Diego composites manufacturer, said it has acquired Ellsworth Handcrafted Bicycles, a Ramona bike manufacturer with a national reputation for top-quality mountain bikes.

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The President of Qualcomm’s Atheros Unit Moves to Intel Corp.

The president of Qualcomm Inc.’s Atheros unit has left his job to go work for Intel Corp.

Novatel Names New CFO

Novatel Wireless Inc., which is rebuilding its executive suite following a change in the board’s composition, said on Sept. 2 that it named Michael Newman its executive vice president and chief financial officer.

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BioLegend Acquires Antibody Products Business Unit From Covance

San Diego-based BioLegend Inc. acquired the shares of Covance Antibody Services Inc., a business unit of Massachusetts-based Covance Inc., on August 29.

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Hilton San Diego Del Mar Completes $15 Million Renovation

Operators of Hilton San Diego Del Mar recently completed a $15 million renovation of the 257-room property.

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Arena Pharmaceuticals' Drug Candidate Granted Orphan Status From FDA

Arena Pharmaceuticals Inc. announced that the Food and Drug Administration has granted orphan drug status to the company’s drug candidate for the treatment of pulmonary arterial hypertension.

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Spring Valley Apartment Property Sells for $3.65 Million

Carv Properties LLC of Chula Vista has acquired the 28-unit Greenwood Villas Apartments in Spring Valley for $3.65 million, according to CoStar Group and public data

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SDG&E Contracts for 2 Firefighting Helicopters

Recognizing the higher risk of wildfires this fall, San Diego Gas & Electric said it is contracting for both an Erickson Air-Crane helitanker and a Helistream Type II helicopter through November.

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Monday, September 1

General Dynamics Nassco Gets $140 Million Ship Work Contract From Navy

The U.S. Navy said that it awarded General Dynamics Nassco a $140 million contract modification to cover dry-dock work on the USS Pearl Harbor.

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StemCutis Names Lee CEO and President

StemCutis LLC, an operating company of Stemedica Cell Technologies Inc., today announced the appointment of Ike Lee as president and CEO.

Bottega Americano Opening in East Village at Law School Building

Operators planned an Aug. 31 opening for Bottega Americano, an Italian-style restaurant and specialty food marketplace in downtown San Diego’s East Village.

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The Business Calendar for the Week of September 1, 2014

Some of the business events scheduled in the county for the week of September 1, 2014.

Escondido Apartment Complex Sells for $9.9M

Claus Family Trust of Del Mar has purchased Windsong Villas, a 67-unit apartment complex in Escondido, for $9.9 million, according to CoStar Group and public data.

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Mast Therapeutics Names Interim CMO as Exec Announces Departure

Mast Therapeutics Inc. announced that Chief Medical Officer and Senior Vice President Santosh Vetticaden will be leaving the company in mid-September.

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Harper Construction Finishes $2.67 Million Sheriff’s Substation

Harper Construction Co. of San Diego has completed a new $2.67 million San Diego County Sheriff’s substation, which opened recently at 28914 Old Highway 80 in Pine Valley.

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