Stories for April 2015

Thursday, April 30

MaxLinear Completes Acquisition of Entropic Communications

MaxLinear Inc., the chip maker based in Carlsbad, said that it has completed its acquisition of a second San Diego County chip maker, Entropic Communications Inc., in a deal that was first announced in February.

First Quarter Revenue Rises at Realty Income Corp.

Realty Income Corp. posted a record $246.9 million in revenue for its first quarter ending March 31, up 11.4 percent from the year-ago period, the Escondido-based company reported.

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BofI Holding Inc. Reports Q3 Net Income of $21 Million

BofI Holding Inc., the parent company of San Diego-based BofI Federal Bank, reported third quarter net income of $21 million on Thursday, its 13th consecutive quarter of record-high earnings.

North Park Apartment Property Sold for $6.75 Million

HP Partners LLC of San Diego has acquired a 36-unit apartment property in North Park for $6.75 million, according to brokerage company South Coast Commercial Inc.

ROIC Posts Increases in Revenue, Net Income

San Diego-based Retail Opportunity Investments Corp. posted revenue of $45.1 million in its first quarter ending March 31, an increase of 24 percent from the same period of 2014.

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Isis Announces $10 Million Milestone Payment from Biogen

Isis Pharmaceuticals Inc. announced that it has earned a $10 million milestone payment from Biogen Inc. associated with the validation of an undisclosed target to treat a neurological disorder.

Two UTC Office Buildings Acquired for $51.6 Million

An affiliate of San Diego-based Phase 3 Real Estate Partners Inc. has purchased two University Towne Center office buildings for a total of approximately $51.6 million, according to CoStar Group and public data.

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Viking Therapeutics Announces Pricing of IPO

Viking Therapeutics Inc. priced its revised initial public offering Wednesday, offering 3 million shares of common stock at $8 per share to raise $24 million.

Wednesday, April 29

Rincon Band Will Pay $9.5 Million for Road Improvements

The Rincon Band of Luiseño Indians said in early April that it will pay local government $9.5 million for road improvements. The move follows completion of the $160 million expansion of Harrah’s Resort Southern California, on the Rincon reservation near Valley Center, in 2014.

Bonita Office Building Sells for $2.95 Million

DW Bonita Road LLC of Bonita has purchased a Bonita office building for $2.95 million, according to CoStar Group and public data.

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California Economic Index Is Flat in February

Comerica Bank’s California Economic Activity Index held flat in February, maintaining a level of 119.4, as it did in January.

Renovate America Completes $240.1 Million Securitization of PACE Bonds

San Diego-based Renovate America, a provider of Residential Property Assessed Clean Energy (PACE) financing in the U.S., announced the completion of its third securitization of PACE Bonds by issuing $240.1 million in Class A Notes rated AA by Kroll.

Dexcom Reports Q1 Revenue for 2015

Dexcom Inc., a company that makes continuous glucose monitoring devices for patients with diabetes, reported a net loss of $12.9 million on revenue of $72.8 million for the first quarter of 2015 – a 55 percent growth in revenue year-over-year.

Cubic Corp. Honored for Payment System

Certain technophiles are calling Cubic Corp. a game changer.

Hyatt Regency La Jolla Being Sold for $118 Million

Strategic Hotels & Resorts Inc. is selling the 417-room Hyatt Regency La Jolla for $118 million, the Chicago-based company announced.

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Tuesday, April 28

Scripps Medical Team to Deploy to Nepal

Scripps Health’s Medical Response Team will be deploying to Nepal to aid in earthquake relief efforts under the auspices of the International Medical Corps (IMC).

San Diego's Economic Indicators Up Again in March

San Diego’s economic barometer rose again in March.

LRAD Corp. Receives $560,000 in Orders from Navy

LRAD Corp., which produces highly directional devices that send high-volume sound over very long distances, said it received $560,000 in orders for two units under a U.S. Navy contract.

Hillcrest Apartment Property Sells for $13.7 Million

Cushman & Wakefield announced the sale of the Marquis at Hillcrest for $13.7 million to Littletown Realty LLC.

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Huya Bioscience Raises $48 Million in Debt Financing

Huya Bioscience International LLC has raised $48 million in debt financing, according to a recent filing with the Securities and Exchange Commission.

Allameh Named COO at Luna Grill

San Diego-based Luna Grill, a Mediterranean restaurant chain, announced that Sean Allameh has joined its leadership team as chief operations officer.

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SDSU Students Win Real Estate Design Competition

Six San Diego State University students snagged a top prize for their plans to build a movie theatre and parking structure on a 13-acre property in Encanto Hills, the school said Tuesday, part of a citywide competition to come up with the best ideas for how to develop the hilly land and still turn a profit.

Home Price Increases Slowing, Index Shows

Prices for San Diego homes rose 4.7 percent in the 12 months since February 2014, according to a national index measuring housing prices, slightly lower than the 5 percent increase among the nation’s 20 largest cities and one of only three cities to see its growth slow.

Monday, April 27

Dollar Tree Agrees to Pay $2.72 Million Fine to Settle Lawsuit

A retail chain that allegedly sent hazardous waste to California landfills found itself in a court fight against scores of county officials — including San Diego County’s district attorney — as well as San Diego’s city attorney.

General Dynamics Nassco Awarded $31.8 Million Navy Contract

The U.S. Navy awarded a $31.8 million contract to General Dynamics Nassco to perform post-shakedown work on one of its newest ships, the USS America.

El Cajon Apartments Sold for $5 Million

Bel Vue Terrace Properties LLC of San Diego has purchased the 40-unit Jamacha Apartments in El Cajon for $5 million, according to brokerage company Berkadia, which represented the buyer.

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Ocean Beach Apartment Property Sells for $2 Million

Mills Trust of Downey has acquired a nine-unit apartment property in Ocean Beach for $2 million, according to brokerage company Marcus & Millichap Inc., which represented the buyer and seller.

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Edico Announces Faster Analysis of Genome Sequencing

Edico Genome Inc. announced Monday a faster analysis of a whole genome sequence.

New Visitor Center Debuts in Downtown San Diego

An April 30 grand opening is planned for a new waterfront San Diego Visitor Information Center, being operated by locally based Old Trolley Tours. The center is at 996 N. Harbor Drive in downtown San Diego.

La Jolla Pharmaceuticals Hires Chief Medical Officer

La Jolla Pharmaceutical Co., a business developing therapies for life-threatening diseases, announced that Dr. Lakhmir Chawla will be joining the company as chief medical officer, effective July 1.

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Sunday, April 26

Quidel Reports Revenue Up 31% in Q1

Quidel Corp. reported strong financial results for the first quarter of 2015 with revenue up 31 percent, according to a recent earnings statement.

Pico Digital Inc. Acquiring Key Assets of International Datacasting

San Diego-based Pico Digital Inc., a provider of multimedia delivery solutions to customers in the broadcast, cable, satellite, and broadband markets, announced it has entered into an agreement to acquire the broadcast products business from International Datacasting Corp., a technology provider for the broadcasters in radio, television, data and digital cinema.

Turtle Beach Corp. Issues $5M Subordinated Note to Its Controlling Shareholder

Headphone and headset maker Turtle Beach Corp. said on April 23 that it issued a $5 million subordinated note to its controlling shareholder, SG VTB Holdings LLC, an affiliate of Stripes Group LLC.

The Business Calendar for the Week of April 27, 2015

Some of the business events planned in the county for the week of April 27, 2015, and beyond.

Psychiatric Centers at San Diego Announces Appointment of a President and a CEO

Psychiatric Centers at San Diego announced the appointments of Dr. Dennis Ordas as president and Leslie Randolph as chief executive officer.

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Grandpoint Bank and Its Divisions Get 5-Star Superior Rating from Agency

Grandpoint Bank and its three divisions, including La Jolla-based Regents Bank, received a 5-Star rating for strength, stability and soundness from independent rating and research firm BauerFinancial based on Dec. 31, 2014, financial data.

Mission Federal to Celebrate Opening of New Eastlake Branch on May 9

Mission Federal Credit Union, the second-largest credit union in San Diego as measured by assets, plans to celebrate the opening of its new Eastlake Branch on Saturday, May 9, from 9 a.m. to 1 p.m., 884 Eastlake Parkway, Chula Vista.

San Diego Regional Chamber Names Haller VP of Membership

The San Diego Regional Chamber of Commerce has hired Dave Haller to be its vice president of membership. Haller most recently was vice president of sales, marketing and account management for North America at WIS International.

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Pfenex Inc. Announces Price of Follow-On Offering

San Diego-based Pfenex Inc. announced the pricing of its follow-on public offering of 6,000,000 shares of its common stock at a price to the public of $15.50 per share.

Maxwell Technologies Stock Dipped on the Day After the Announcement of $10M Follow-On Offering

Shares of Maxwell Technologies fell almost 12 percent on April 24, the day after the company announced it planned to sell $10 million in stock in a follow-on offering.

USD Offering Online Master’s Degree Program In Law Enforcement And Public Safety Leadership

The University of San Diego has launched an online program for people interested in earning a master’s degree in law enforcement and public safety leadership.

Friday, April 24

Even Guests Help Hotels Save Water

TOURISM: From Linens To Landscaping, Cuts Made

Even if they’re not from California, guests at properties such as San Diego’s The US Grant hotel are increasingly willing to sacrifice in response to the state’s prolonged and severe drought, even if it just means forgoing fresh towels for a few days.

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The Cutting-Edge of The Spear: DARPA

DEFENSE: Research Vital To Military, Businesses

DARPA likes to think big. And executives in the defense world — people such as David Bruemmer — like to know what the customer is thinking.

Qualcomm Sticks to Its Script, Despite Critics

TECH: It Reviews Costs, Builds Medical Portfolio

2015 might be the year that Qualcomm Inc. stops its relentless year-over-year growth. But what looks like a decline to some observers might merely be a metamorphosis.

S.D., Tijuana Plan a Tourism Team Effort

TRAVEL: New Terminal Part Of Broader Binational Approach

San Diego and Tijuana tourism leaders are aiming to boost visitor counts to the combined region, capitalizing on a soon-to-be completed cross-border terminal that could open up new opportunities to greet international travelers.

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EARNING POWER

ECONOMY: Key Sectors Provide Pay And Progress for S.D.

The region’s life science and technology industries are continuing to see sustained growth, according to a recent jobs report.

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Getting to the Bottom of Quest for a Free Lunch

The fabled “free lunch”? Your Economics 101 professor told you there was no such thing. Your professor may have been wrong. Just ask Dan Shea.

Climate Policies Can Impair Economic Mobility

While there are signs that California is making progress bringing down our unemployment rate and expanding business in the technology sector, there are also signs that the recovery is incomplete.

Cleaning Services Company Began With a ‘Leap of Faith’

SERVICE: Financial Professional Used Old and New Skills for Enterprise

When the recession struck in 2008, financial professional Kirk Bolduc didn’t allow economic uncertainty to prevent him from starting a new janitorial company.

Executive Q&A: Michael ‘Mick’ Farrell, ResMed Inc.

Michael “Mick” Farrell, 43, took over his father’s business two years ago with big shoes to fill — in leadership and personality.

Donations Fund Weekend Camp For Grieving Children

Each year, more than 100 children and teens have the opportunity to attend Camp Erin San Diego, thanks to the generous donations from local philanthropic groups.

3-D Printing Is Beginning to Spread Its Wings Locally

PRODUCTION: From Tissue to Aircraft Parts, Process Shows Promise

Katie Rast uses the word “powerful” when she talks about 3-D printing. In her eyes, the technology has all sorts of potential.

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Pool of Possibilities

Spa Manufacturer Watkins Expands Into Aquatic Fitness, Will Leverage Its Dealer Network

With its acquisition in March of Endless Pools Inc., Vista-based Watkins Manufacturing Corp. is expanding into new markets with products that complement its hot tub business.

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Citigroup, Nixon Peabody Hired for Stadium Finance Talks

SPORTS: Firms Have Expertise Needed For Funding Proposal

The city of San Diego has hired investment banker Citigroup Inc. and law firm Nixon Peabody LLP to help local officials develop financing options for a potential new San Diego Chargers stadium.

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Even in Texas, the Big Moves Keep Coming at Websense

How do you make a San Diego tech company all the more attractive for acquisition?

Chula Vista Gets Help Telling Story of Its Planned Development

ECONOMY: Consultants Guide Quest for University And Innovation District

No schools are yet on board, but Chula Vista is counting on an improving economy and a proposed University and Innovation District to bring a long-sought educational campus and related research-focused business activity to the city.

Breast Cancer Detection Device Gives Surgeons the All Clear

BIOTECH: Rapid Results in the OR Should Reduce Re-Excision Rate

A device now being used at Sharp Memorial Hospital is helping surgeons more thoroughly remove cancerous tissue during breast cancer surgery, reducing the need for follow-up procedures and providing a better chance for patients to recover.

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App and the Box: Piggyback Repackages Delivery Service

TECH: Company Sees Crowdshipping as An Evolving Business

John Renison admits that he doesn’t know all there is to know about computer code. What he does know, intimately, is the industry that he hopes to shake up.

S.D. to Be On TV as a Smart City

A segment featuring San Diego is scheduled to air at 8 a.m. on May 2 as part of a cable documentary series on National Geographic Channel called “World’s Smart Cities.”

Edico Genome, Intel Partner to Speed Sequencing

BIOTECH: Huge Data Sets to Get Rapid and Cost-Effective Analysis

Edico Genome Inc., a La Jolla-based tech startup, announced that it’s collaborating with Intel Corp. to speed up next-generation genome sequencing (NGS) data analysis.

18 Local Businesses to Share $20.24M in Credits

ECONOMY: GO-Biz Incentives Awarded for Creation of 4,311 Jobs

Eighteen San Diego County businesses will receive $20.24 million in state tax credits through the governor’s Office of Business and Economic Development (GO-Biz) in return for creating 4,311 new jobs.

Regulations Hit Region Where It Hurts: Housing

Dr. Lynn Reaser and the Fermanian Business & Economic Institute at Point Loma Nazarene University this week will release their landmark study on the impact of local regulations on the cost of housing. This is noteworthy for two reasons.

USD Launches Online Master’s Degree In Law Enforcement And Public Safety Leadership

The University of San Diego has launched an online program for people interested in earning a master’s degree in law enforcement and public safety leadership.

Mission Federal Credit Union to Celebrate Opening of New Eastlake Branch

Mission Federal Credit Union, the second-largest credit union in San Diego as measured by assets, plans to celebrate the opening of its new Eastlake Branch on Saturday, May 9, from 9 a.m. to 1 p.m., 884 Eastlake Parkway, Chula Vista.

San Diego Regional Chamber Names Dave Haller VP of Membership

The San Diego Regional Chamber of Commerce has hired Dave Haller to be its vice president of membership. Haller most recently was vice president of sales, marketing and account management for North America at WIS International.

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Pico Digital Acquiring Key Assets of International Datacasting

San Diego-based Pico Digital Inc., a provider of multimedia delivery solutions to customers in the broadcast, cable, satellite, and broadband markets, announced it has entered into an agreement to acquire the broadcast products business from International Datacasting Corp., a technology provider for the broadcasters in radio, television, data and digital cinema.

Turtle Beach Issues $5M Subordinated Note to Its Controlling Shareholder

Headphone and headset maker Turtle Beach Corp. said on April 23 that it issued a $5 million subordinated note to its controlling shareholder, SG VTB Holdings LLC, an affiliate of Stripes Group LLC.

Grandpoint Bank Gets 5-Star Superior Rating from Agency

Grandpoint Bank and its three divisions, including La Jolla-based Regents Bank, received a 5-Star rating for strength, stability and soundness from independent rating and research firm BauerFinancial based on Dec. 31, 2014, financial data.

Business Calendar for the Week of April 27, 2015

Some of the business events planned in the county for the week of April 27, 2015, and beyond.

Thursday, April 23

Callaway Golf Reports Q1 Net Income of $35.8 Million

Carlsbad-based Callaway Golf Co. reported net income of $35.8 million on net sales of $284.2 million for the first quarter of 2015.

Maxwell Technologies Plans to Sell $10 Million of Stock in Follow-On Offering

Maxwell Technologies Inc., a maker of heavy-duty capacitors for the transportation industry, said on April 23 that it planned to sell $10 million of stock in a follow-on offering.

Melanie Herman Named Interim CFO at Ligand Pharmaceuticals

San Diego-based Ligand Pharmaceuticals Inc. announced the appointment of Melanie Herman as interim chief financial officer, effective May 21.

Seacoast Commerce Reports Q1 Net Income of $1.3 Million

Seacoast Commerce Banc Holdings, the parent company for Seacoast Commerce Bank, reported 2015 first-quarter net income of $1.3 million, compared to net income of $2 million for the same quarter in 2014.

San Marcos Industrial Building Sells for $2.1 Million

Utah Prime Properties Inc. of Los Angeles has acquired a San Marcos industrial building for $2.1 million, according to CoStar Group and public data.

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Carmel Valley Office Building Purchased for $5.4 Million

CWC Income Properties 3 LLC, a San Diego-based private equity fund, has acquired a Carmel Valley office building for $5.4 million, according to the fund’s parent company.

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ResMed Reports Q3 Net Income of $91 Million

ResMed Inc., a company that makes medical devices for sleep-related disorders, reported net income of about $91 million on net revenue of $422.5 million for the third quarter that ended March 31.

Escondido Apartment Complex Sells for $6.6 Million

Urban Housing Communities LLC has purchased a 44-unit Escondido apartment complex for $6.6 million, according to broker ACI Apartments, which represented the sellers.

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S.D. History Center to Recognize 160 Centurions

The San Diego History Center on Saturday will recognize 160 San Diego businesses, organizations and institutions that have been in the city for 100 years or more.

Wednesday, April 22

Illumina Reports Q1 Net Income of $136.65 Million

San Diego-based biotechnology firm Illumina Inc. posted a strong first quarter in 2015, reporting a 28 percent growth in revenue year over year.

DOJ Clears The Pasha Group’s Acquisition of Horizon’s Hawaii Business

The U.S. Department of Justice has cleared The Pasha Group’s acquisition of the Hawaii trade-lane business of Horizon Lines Inc., Pasha Group said.

Three Auto Dealership Buildings Sell for $11.8 Million

An affiliate of Beverly Hills-based O’Gara Coach Co. has purchased three San Diego retail auto dealership buildings for a total of $11.8 million, according to CoStar Group and public data.

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Achates Power Opens Office in Detroit

Achates Power Inc., which is developing new diesel engine technologies at its Sorrento Valley headquarters, has opened an office in the Detroit metro area.

PriceSmart Acquires Land for Second Warehouse Club in Nicaragua

San Diego-based PriceSmart Inc. announced that it acquired approximately 288,580 square feet of land in Managua, Nicaragua, upon which the company plans to construct a new warehouse club.

Qualcomm Posts Q2 Net Income of $1.05 Billion

Qualcomm Inc. reported net income of $1.05 billion, or 63 cents per share, on revenue of $6.9 billion during its second quarter, which ended March 29.

Otay Mesa Industrial Buildings Sold in $42.5 Million Deal

An affiliate of San Francisco-based Stockbridge Capital Group LLC has acquired a 14-building portfolio of Otay Mesa industrial properties for approximately $42.5 million, according to CoStar Group and public data.

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Carlsbad Apartment Property Sold for $39.7 Million

An affiliate of Rancho Santa Fe-based Pacifica Real Estate Services Inc. has purchased the 66-unit BluWater Crossing apartment property in Carlsbad for $39.7 million, according to CoStar Group and public data.

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Tuesday, April 21

Hughes Marino Opens 2 Northern California Offices

Hughes Marino, a San Diego-based commercial real estate services provider, has opened two new offices in Northern California and announced an expansion and relocation of one of its Los Angeles offices.

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General Dynamics Nassco's 100th Ship Launch Is a Unique One

General Dynamics Nassco recently launched the world’s first liquefied natural gas powered containership at a ceremony at the company’s shipyard in San Diego.

Edico Genome Collaborating With Intel Corp.

Edico Genome Inc., a La Jolla-based tech startup, announced Tuesday that it’s collaborating with Intel Corp. to speed up next-generation sequencing data analysis.

Alliance Residential Opens Two New Local Apartment Communities

Nationwide apartment developer Alliance Residential Co. recently opened two newly built properties in San Diego – the 100-unit Broadstone Balboa Park in Bankers Hill and the 360-unit Broadstone Corsair in Kearny Mesa.

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GlycoRegImmune Raises $4.38 Million in Equity Financing

GlycoRegImmune Inc. (GRI Bio), a biotech developing treatments for inflammatory disease, recently raised $4.38 million in equity financing, according to a recent regulatory filing.

Hilton Carlsbad Oceanfront Resort Rebranded as Cape Rey

Hilton Carlsbad Oceanfront Resort & Spa is being rebranded and will officially operate as Cape Rey as of April 30.

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General Dynamics Nassco Gets One-Year Navy Contract Worth $24.2M

The Pentagon announced April 21 that the U.S. Navy awarded General Dynamics Nassco a one-year, $24.2 million contract to sustain Littoral Combat Ships in the port of San Diego.

Monday, April 20

Otay Mesa Industrial Building Sold for $6.5 Million

An entity recorded as Stockbridge San Diego Indl Ll has acquired an Otay Mesa industrial property for $6.5 million, according to CoStar Group and public data.

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Retired Rear Admiral Jan Hamby Named to Cubic Board

Cubic Corp. announced on April 20 that it named Jan Hamby to its board of directors.

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DJO Announces Q1 Financial Results

DJO Global Inc., a medical device company in San Diego, announced Monday the financial results for its public reporting subsidiary, DJO Finance LLC, for the 2015 first quarter.

Vista Industrial Property Sells for $5.9 Million

Nordic Naturals Inc. of Watsonville has purchased a Vista industrial building for approximately $5.9 million, according to CoStar Group and public data.

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Cyber Security Focus of Three-Day Symposium

Military communications and cyber security take center stage during the C4ISR Symposium, set for April 27-29 at the Liberty Station Conference Center in Point Loma.

San Diego Hires Citigroup, Nixon Peabody for Stadium Finance Talks

The city of San Diego has hired investment banker Citigroup Inc. and law firm Nixon Peabody LLP to help local officials develop financing options for a potential new San Diego Chargers stadium.

Sunday, April 19

San Diego Ranks Fifth in National Retail Market Report

San Diego placed fifth in the latest annual report by commercial real estate services provider Marcus & Millichap Inc., ranking the nation’s strongest retail property markets.

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18 Local Businesses to Get Tax Credits From GO-Biz

Eighteen San Diego County businesses will receive $20.24 million in state tax credits through the governor’s Office of Business and Economic Development (GO-Biz) for creating 4,311 new jobs.

Trovagene's Platform Outperforms Tissue Biopsy

Trovagene Inc., a cell-free molecular diagnostic company, announced that recent clinical data showed its urine-based Precision Cancer Monitoring platform outperformed traditional tissue biopsy for the detection and monitoring of specific mutations in metastatic lung cancer patients.

The Business Calendar for the Week of April 20, 2015

Some of the business events planned in the county for the week of April 20, 2015 and beyond.

County's Median Home Price for March is $456,000

San Diego’s median home price increased 6.8 percent year over year, from $427,000 in March 2014 to $456,000 in March 2015, according to CoreLogic Dataquick.

County's March Unemployment Rate Is 5.1%

San Diego County’s unemployment rate hovered close to pre-recession levels in March, reaching 5.1 percent, down from 7.1 percent one year ago, according to preliminary data released by the state.

Wood Ranch BBQ to Debut Locally in Mission Valley

Wood Ranch BBQ & Grill has a mid-May opening planned for its new restaurant at 7510 Hazard Center Drive, Suite 215 in Mission Valley.

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Regen BioPharma Inc. Announces 3 Additions to Scientific Advisory Board

La Mesa-based Regen BioPharma Inc. announced that it added three internationally renowned cancer stem cell experts to its scientific advisory board: Santosh Kesari, Rohit Duggal and Boris Minevis.

Northrop Grumman Corp.’s X-47B Is Flying Into Its Sunset

Northrop Grumman Corp.’s X-47B carrier-based drone is ending its service life with an aerial refueling exercise, though when that last flight will be was not immediately clear on April 17.

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Patio Restaurant Group Expands to Petco Park

Petco Park is the latest expansion site for San Diego-based The Patio Restaurant Group, led by local entrepreneur Gina Champion-Cain.

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Friday, April 17

The Past Has a Strong Presence in Coronado Renovations

The decision to embark on a home renovation is by any measure a difficult undertaking.

Attorney’s Career Accomplishments, Community Role Applauded

Richard A. Shaw, a partner at Higgs Fletcher & Mack, has been awarded the San Diego County Bar Association’s 2015 “Outstanding Attorney of the Year” Service Award. A nationally recognized lawyer in taxation, corporate and estate planning, Shaw was selected as an exemplary attorney for his contributions to the legal profession and service to the San Diego community.

Executive Q&A: Aaron Hall, Borrego Solar

Aaron Hall, Borrego Solar

Before he became a 21-year-old CEO of one of the largest solar companies in San Diego, Aaron Hall had already flexed his entrepreneurial skills — starting on the playground.

Company Uses Data to Build On Sustainability Practices

GREEN: Firm Follows Its Projects From Start To Beyond the Finish

Sustainability Matters is more than a company name to founder Kristen Victor. “I just truly care about the planet and future generations,” said Victor, who started Sustainability Matters six years ago in San Diego’s Little Italy neighborhood.

Getting the Lowdown

BUILDING: Mapping of Underground Infrastructure Is a Key Part of Infill Development

With most land zoned for construction already built out in San Diego County, the mapping of underground utilities is expected to ease the way for more sustainable urban infill development.

Think Tank Puts Price Tag on New Stadium

Any financing plan to build a new San Diego Chargers stadium in Mission Valley — the current site of Qualcomm Stadium — will need to cover a tab of at least $725 million, and likely well over $1 billion.

Mission Beach’s Belmont Park Gets Renegotiated Lease on Life

PROPERTY: Long-term Deal Has Owners Planning Number of Improvements

A renegotiated lease on Belmont Park at Mission Beach will bring nearly $70 million to the city of San Diego over the next 23 years.

S.D.’s Ranking as Tech Talent Market Shows Strengths, Flaws

ECONOMY: Growing Millennial Population Could Be Key Resource

San Diego ranks 17th in the nation among major markets for its ability to attract and grow technology-focused employment talent, according to a new report from commercial brokerage company CBRE Group Inc. The report says tech industry clustering remains the biggest driver of office space demand in the U.S. and the local region.

Pull of Biotechs Draws a GSK Satellite Office Into S.D. Space

Pharmaceutical giant GlaxoSmithKline has officially joined the roster of major drug companies with offices in San Diego. Earlier this month, the company opened a local site to manage its research and development partnerships on the West Coast.

Company Knows the Score When It Comes to High School Sports

SPORTS: App Lets Fans Cover Games, Enjoy Friendly Rivalries

A Solana Beach app developer that offers play-by-play details of high-school sporting matches recently got some resources to expand the business — and some validation, as well. Doubtless the people at ScoreStream Inc. found it as welcome as a cool drink after a football drill under the late summer sun.

Benefunder Partners With Syracuse

Syracuse University announced that it has partnered with San Diego-based Benefunder, an organization that works with wealth management firms to connect donors with top researchers across the country.

Banking Veteran Scott Andrews Joins Seacoast

finance: Former CEO Joins Seacoast As VP and CAO

Seacoast Commerce Banc Holdings and its wholly owned subsidiary Seacoast Commerce Bank announced the hiring of Scott R. Andrews as the executive vice president and chief administrative officer for both the company and the bank.

Activist Investor Pushes for Changes at Qualcomm

TECH: Company Confident In Its Corporate Structure

Qualcomm Inc. faces several chances to increase shareholder value, New York-based JANA Partners LLC said in a letter to shareholders on April 13, noting at one point that the San Diego company could profitably sell its chip-making segment.

Water Program Aims to Create a Reservoir of Talent

We have been hearing about California’s drought for years.

Blackstone Acquiring Excel Trust Inc. in $2 Billion Purchase

REAL ESTATE: Deal Is All-Cash Transaction, Should Close In 2015

Excel Trust Inc., a San Diego-based real estate investment company, has entered into an agreement to be acquired by Blackstone Property Partners LP in an all-cash transaction valued at approximately $2 billion, the companies announced.

Builders, Regulators Look to Cooperate on Runoff Compliance

BUILDING: Permit Update Will Add to the Complexities

Although they often have been at odds over how to prevent stormwater pollution from construction site runoff, local builders and the San Diego Regional Water Quality Control Board say they are building a closer working relationship.

GA Handles a Tall Order for Fusion Experiment

ENERGY: Huge Electromagnet To Play Key Role in Program

In the world of specialty manufacturing, this is about as specialized as you get.

Orange Is New Green: Alternative Arrives For Pharmacy Bottles

MEDICINE: Company Targets Big Market With New Container

Each year, the medical industry dispenses billions of prescriptions, most of them in those ubiquitous orange plastic bottles, many of which find their way into landfills.

Soiling Its Reputation

ECONOMY: Sea Lion Waste Wreaks Havoc on La Jolla Cove Businesses

The Goldfish Point Café enjoys a unique location with foot traffic that most businesses would envy: The world-famous La Jolla Cove draws in tourists every day.

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Regen Announces Additions to Scientific Advisory Board

La Mesa-based Regen BioPharma Inc. announced that it added three internationally renowned cancer stem cell experts to its scientific advisory board.

Trovagene's Diagnostic Outperforms Tissue Biopsy

Trovagene Inc., a cell-free molecular diagnostic company, announced that recent clinical data showed its urine-based Precision Cancer Monitoring platform outperformed traditional tissue biopsy for the detection and monitoring of specific mutations in metastatic lung cancer patients.

March Unemployment Rate for County is 5.1%

San Diego County’s unemployment rate hovered close to pre-recession levels in March, reaching 5.1 percent, down from 7.1 percent one year ago, according to preliminary data released by the state.

Local Businesses to Get Tax Credits From GO-Biz

Eighteen San Diego County businesses will receive $20.24 million in state tax credits through the governor’s Office of Business and Economic Development (GO-Biz) for creating 4,311 new jobs.

Patio Restaurant Group Sees How Locally Sourced Menu Plays at Petco Park

Petco Park is the latest expansion site for San Diego-based The Patio Restaurant Group, led by local entrepreneur Gina Champion-Cain.

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Wood Ranch BBQ Debuting First Local Restaurant in Mission Valley

Wood Ranch BBQ & Grill has a mid-May opening planned for its new restaurant at 7510 Hazard Center Drive, Suite 215 in Mission Valley.

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National Retail Market Report Ranks San Diego Fifth

San Diego placed fifth in the latest annual report by commercial real estate services provider Marcus & Millichap Inc., ranking the nation’s strongest retail property markets.

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County's Median Home Price Is $456,000 for March

San Diego’s median home price increased 6.8 percent year over year, from $427,000 in March 2014 to $456,000 in March 2015, according to CoreLogic Dataquick.

Business Calendar for Week of April 20, 2015

Some of the business events planned in the county for the week of April 20, 2015 and beyond.

Thursday, April 16

ViaSat Awarded $12.3 Million Navy Contract

The U.S. Navy said it has awarded Carlsbad-based ViaSat Inc. a three-year, $12.3 million contract to repair MIDS radios used on various aircraft platforms.

FDA Grants Fast Track to MediciNova

MediciNova, Inc., a biopharmaceutical company, announced that it has received Fast Track designation from the U.S. Food and Drug Administration for MN-001 (tipelukast) for the treatment of patients with nonalcoholic steatohepatitis (NASH) with fibrosis.

Navy Awards $25.3 Million Deal to RQ-Bert Joint Venture

The U.S. Navy awarded the RQ-Berg Joint Venture of Carlsbad a $25.3 million deal to upgrade the infrastructure at Camp Wilson at the Marine Corps Air Ground Combat Center in Twentynine Palms. Navy planners expect the work will take two years.

Guild Mortgage Names David Battany EVP of Capital Markets

Guild Mortgage Co., a San Diego private mortgage bank, has named David Battany as its new executive vice president of capital markets.

Steven Chen Joins Avelas Biosciences as VP of Clinical Affairs

Avelas Biosciences Inc., a cancer diagnostic company focused on improving cancer surgeries, announced Thursday that it has started a Phase 1b study of its lead fluorescent cancer illuminator, AVB-620, in women with primary non-recurrent breast cancer.

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National Geographic Documentary Series Spotlights San Diego

A segment featuring San Diego is scheduled to air at 8 a.m. April 25 and May 2, as part of a cable documentary series on National Geographic Channel called “World’s Smart Cities.”

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Receptos Reports Positive Results For Ulcerative Colitis Drug

Receptos Inc. stock was up 5 percent Thursday morning following the company’s announcement regarding its lead product candidate ozanimod.

Santa Barbara Firm Buys Apartment Listing Services Provider RentLinx

San Diego-headquartered RentLinx LLC, which syndicates rental listings to apartment search websites, has been acquired by AppFolio Inc., a Santa Barbara- based provider of cloud-based business management software. Financial terms were not disclosed.

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Wednesday, April 15

Callaway Announces Robert Julian to Take CFO Role

Callaway Golf Co. announced that it has appointed Robert Julian as chief financial officer of the company, effective May 11.

Google Executive Joins Novatel Leadership Team

An executive search led Novatel Wireless Inc. to Google. The San Diego company said on April 15 that it hired a Google Inc. (Nasdaq: GOOG) executive to be its new executive vice president of sales and marketing.

Tim Van Linge Named CFO at WestAir Gasses and Equipment

San Diego-based WestAir Gasses and Equipment Inc., an independent distributor of gases and equipment in the Southwest, announced the appointment of Tim Van Linge as chief financial officer.

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Rancho Bernardo Industrial Property Sells for $10.5 Million

Seven C’s Group LLC has purchased Via Frontera Business Park, a two-building industrial property in Rancho Bernardo, for $10.5 million, according to Colliers International, which represented the seller.

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McDonald’s to Test All-Day Breakfast in San Diego County

McDonald’s Corp. on April 20 will begin a test of all-day breakfast item sales at 94 of its 110 San Diego County restaurants.

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UC Irvine to Conduct Clinical Trial of Aethlon Device

Aethlon Medical Inc., a medical device company developing therapies for infectious diseases and cancer, announced that it has entered into a clinical trial agreement with the University of California, Irvine.

SDSU Business School Team Takes First Prize in Competition

A three-man team representing the College of Business Administration at San Diego State University took first prize in the Richard Barrentine Values and Ventures Business Plan Competition held earlier this month at Texas Christian University.

San Marcos Retail Center Sold for $14.35 Million

Costa Mesa-based Webb Management & Investments has acquired a four-building shopping center property in San Marcos for $14.35 million, according to CoStar Group and public data.

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Program Examines Military's Future in San Diego

Citizens Coordinate for Century 3 will offer a look at the military in San Diego as part of its Breakfast Dialogue program series.

Tuesday, April 14

Investor Suggests Ways Qualcomm Can Increase Its Value

Qualcomm Inc. faces several chances to increase shareholder value, New York-based JANA Partners LLC said in a letter to shareholders on April 13, noting at one point that the San Diego company could profitably sell its chip-making segment.

Mentor Capital Obtains $1.3M in Long-Term Financing

Mentor Capital Inc. a San Diego-based company which seeks to take significant positions in medical marijuana and cannabis companies, announced that it has entered into a contract to receive $1,287,000 in funding to support its medical marijuana efforts in exchange for 757,059 shares at a price of $1.70 per share.

Halyard Capital Acquires Harte Hanks Market Intelligence

Halyard Capital, a New York-based private equity fund, announced the acquisition of San Diego-based Harte Hanks Market Intelligence and The Aberdeen Group from Harte-Hanks, Inc.

Chula Vista Industrial Building Sells for $3.56 Million

Buyers recorded as Britannia Partners LLC and VJS have purchased a Chula Vista industrial building for approximately $3.56 million, according to CoStar Group and public data.

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La Casa del Zorro Getting $3 Million in Solar Upgrades

La Casa del Zorro in Borrego Springs has completed a $150,000 “solar farm,” the first of two projects totaling more than $3 million aimed at making the resort more energy-independent and eco-friendly.

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Monday, April 13

Irvine Firm Buys Club Pilates Founded by S.D. Woman

Irvine-based LAG Fit Inc. has acquired Club Pilates, a franchised chain of 35 Pilates studios in the U.S. and Australia.

Acquisition of Pulse Electronics Completed

San Diego-based Pulse Electronics Corp. announced its acquisition by certain affiliates of investment funds managed by Oaktree Capital Management L.P. (such affiliates, “Oaktree”) has been completed. The deal was announced March 2.

Ichor, Janssen Partner to Develop DNA-Based Vaccines

San Diego-based Ichor Medical Systems said Monday that it has partnered with Janssen Pharmaceuticals to develop DNA-based vaccines. The privately held biotech can earn up to $85 million under the contract, along with royalties on any product sales.

Cerner, Qualcomm Life Bring Health Monitoring into Home

Cerner Corp. and Qualcomm Life Inc., a subsidiary of Qualcomm Inc., announced Monday an agreement to extend Cerner's medical device connectivity capabilities beyond the hospital to the home.

Susan G. Komen San Diego Names Chairwoman, New Appointments to Board

Susan G. Komen San Diego’s Board of Directors announced the election of Irene Oberbauer as the organization’s chair and the appointment of four new board members.

Retail-Office Building at Liberty Station Sells for $5.2 Million

Tower Investments LLC has purchased a multi-tenant retail and office building at Liberty Station in Point Loma for $5.2 million, according to Voit Real Estate Services, which represented the seller.

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Neothetics Begins Phase 3 Trials of Weight-Loss Drug

Neothetics Inc., a maker of cosmetic pharmaceutical therapies, announced Monday that it has initiated two Phase 3 trials for its drug candidate meant to reduce “abdominal bulging” in non-obese patients.

Three Local Firms Make Top 50 in Apartment Industry Rankings

Three San Diego-headquartered firms ranked among the top 50 U.S. companies in three industry categories tracked in a recent annual report by the National Multifamily Housing Council, an apartment industry trade group based in Washington, D.C.

Sunday, April 12

Blackstone to Acquire San Diego's Excel Trust in $2 Billion Deal

Excel Trust Inc., a San Diego-based real estate investment company, has entered into an agreement to be acquired by Blackstone Property Partners LP in an all-cash transaction valued at approximately $2 billion, the companies announced.

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Syracuse University Partnering With Benefunder to Promote Research Funding

Syracuse University announced that it has partnered with San Diego-based Benefunder, an organization that works with wealth management firms to connect donors to top researchers across the country.

Three Local Nursing Facilities Are Part of $80 Million Portfolio Deal

MedEquities Realty Trust Inc. of Nashville, Tenn., has purchased a portfolio of buildings housing four skilled-nursing facilities, including three in San Diego County, for $80 million, according to CoStar Group and public data.

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Dexcom Glucose Monitoring System to Be Paired With Apple Watch

Dexcom Inc., a company that makes continuous glucose monitoring devices for patients with diabetes, announced that its Dexcom G4 Platinum Continuous Glucose Monitor System with Share will support the Apple Watch when it ships to customers April 24.

The Business Events Calendar for the Week of April 13, 2015

Some of the business events scheduled in the county for the week of April 13, 2015, and beyond.

Seacoast Names Scott Andrews Executive VP and CAO

Seacoast Commerce Banc Holdings and its wholly owned subsidiary Seacoast Commerce Bank announced the hiring of Scott R. Andrews as the executive vice president and chief administrative officer for both the company and the bank.

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ViaSat Increases Its Board of Directors to 8, Names New Director

ViaSat Inc. said on April 8 that it increased the size of its board to eight directors, and appointed Frank Biondi Jr. to the new additional seat.

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Jacques Joins DavenportMajor Executive Search as New Partner, Technology

DavenportMajor Executive Search, a global retained executive search firm focusing on the placement of director, vice president and C-level executives as well as the recruitment of board directors, announced the appointment of Teresa Jacques to the post of Partner, Technology.

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DJO Appoints Jeanine Kestler as New Chief Human Resources Officer

Vista-based DJO Global Inc., a manufacturer of orthopedic and medical devices, announced the appointment of Jeanine Kestler as the company's new executive vice president and chief human resources officer.

RF Industries Announces COO’s Resignation

RF Industries Ltd. announced that its founder and Chief Operating Officer Howard Hill, will take an indefinite medical leave of absence, and in connection with his medical leave of absence, Hill resigned as the company’s chief operating officer.

Friday, April 10

Inner Peace and Outer Beauty

Crashing waves and panoramic views define this house in La Jolla. Originally built in 1980, the beachfront home was completely remodeled in 2001 with exquisite attention to quality and detail. Oriented to capture the expansive views, the curvilinear architectural elements emulate the waves of the ocean below.

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Stone’s New Virginia Plant Also a ‘Failsafe’ for Drought

EXPANSION: Brewer Says 40% of Current Sales Are East of Mississippi

When Stone Brewing Co., one of the 10 largest craft beer makers in the U.S., hired Craig Spitz as its first CFO five years ago, the craft beer maker was generating $48 million annually in sales.

Distilled Spirits Could Follow in Footsteps of Craft Beer Cluster

BEVERAGES: Changing Distribution Law Would Help Open the Path

A very small batch of San Diego’s craft beer brewers are making early headway in the ultra-competitive market for distilled spirits, which last year racked up $23.1 billion in U.S. sales, according to industry reports.

Brewing Is the Easy Part of the Operation

ROUNDTABLE: Owners Cite Range of Regulations Among Business Concerns

For the 40-plus entrepreneurs expected to soon start breweries in the Craft Beer Capital of the World, the process will be a dream come true.

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Case for Cans

CRAFT BREWERIES: Some Craft Brewers Are Open to Change as New Techniques Help Cans Hold Their Own Versus Bottles

The hum of canning lines at Mike Hess Brewing Co. in North Park is a sound that remains relatively rare in the world of San Diego County’s 100-plus craft beer makers.

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United Way Volunteers Share the Magic of Dr. Seuss With Kids

To inspire a love of learning and the written word, volunteers from United Way of San Diego County participated in the National Education Association’s 18th Annual Read Across America Day and celebrated Dr. Seuss’ 111th birthday by sharing beloved tales from the local literary legend with students at elementary schools across the county.

Glitch Doesn’t Dent Navy’s Confidence in New Catapult

The U.S. Navy’s new electromagnetic aircraft catapults, made by San Diego-based General Atomics, will need some fine-tuning before they launch anything off of an aircraft carrier deck. The catapults are going onto the USS Gerald R. Ford — which is scheduled to join the fleet in spring 2016 — and aircraft carriers that come after it.

Glass-Walled Ballrooms Highlight Marriott’s $206 Million Makeover

HOSPITALITY: Hotel Will Offer Most Event Space on West Coast

Owner Host Hotels & Resorts Inc. recently began work on the second phase of a $206 million makeover of its Marriott Marquis San Diego Marina, an 80,000-square-foot events facility that also includes an adjacent Marina Walk, the latest in a series of new public elements transforming the face of the downtown waterfront.

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With This Software, Many Voices Can Speak as One

TECH: Data From Old, New Devices Can Communicate

Like people, machines speak different languages. Chad Trytten is building a business on the proposition that they can all speak together.

Green Flash Debuting New Tasting Room

San Diego-based Green Flash Brewing Co. plans a May 16 opening for Cellar 3, a new tasting room and specialty brewing facility that it will operate in Poway.

Sullivan International Files For Chapter 11

CONSULTING: Firm Hit By Sequestration, Government Shutdown

San Diego-based Sullivan International Group, Inc. announced that it has filed for Chapter 11 bankruptcy protection.

North County Cities Business Plan: Innovate78

ECONOMY: They Are Looking to Attract Companies, Investment

Five North County cities have launched a branding and economic development initiative to collectively promote the state Route 78 corridor and increase their capacity to retain, expand and attract talent, companies and investment.

Admiration Is High for These Low-Profile Execs

That large photo to the left captured a special moment at our CFO of the Year Awards. It’s also a great example of why the CFO event is one of our favorites.

Fitness App Aims for Strength in Numbers

TECH: It Offers Access to Network of Studios, Classes

The Internet’s middleman economy continues to shake up brick-and-mortar businesses in every industry.

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Teresa Jacques Joins DavenportMajor as New Partner, Technology

DavenportMajor Executive Search, a global retained executive search firm focusing on the placement of director, vice president and C-level executives as well as the recruitment of board directors, announced the appointment of Teresa Jacques to the post of Partner, Technology.

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Rady $100M Gift For Best, Brightest

EDUCATION: UCSD School To Pursue Top Faculty, Students

Local philanthropists Ernest and Evelyn Rady have committed $100 million to the Rady School of Management at the University of California, San Diego, a long-term gift deemed crucial for competing with older and well-established business schools for top students and faculty.

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Help Wanted: Bug Busters

HEALTH: S.D. Startups Working to Find Newer, More Powerful Antibiotics

The rising number of drug-resistant “superbugs” ­– and the lack of new therapies to fight them ­– has prompted concerned public health officials to offer incentives to drugmakers to lure them back into the abandoned field of antibiotics.

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Three Local Nursing Facilities Part of $80 Million Portfolio Deal

MedEquities Realty Trust Inc. of Nashville, Tenn., has purchased a portfolio of buildings housing four skilled-nursing facilities, including three in San Diego County, for $80 million, according to CoStar Group and public data.

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Blackstone Acquiring Excel Trust for $2 Billion

Excel Trust Inc., a San Diego-based real estate investment company, has entered into an agreement to be acquired by Blackstone Property Partners LP in an all-cash transaction valued at approximately $2 billion, the companies announced.

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Dexcom Glucose Monitoring Platform Paired With Apple Watch

Dexcom Inc., a company that makes continuous glucose monitoring devices for patients with diabetes, announced that its Dexcom G4 Platinum Continuous Glucose Monitor System with Share will support the Apple Watch when it ships to customers April 24.

DJO Global Appoints Kestler as New Chief Human Resources Officer

Vista-based DJO Global, Inc., a manufacturer of orthopedic and medical devices, announced the appointment of Jeanine Kestler as the company's new executive vice president and chief human resources officer.

Syracuse University Partnering With Benefunder

Syracuse University announced that it has partnered with San Diego-based Benefunder, an organization that works with wealth management firms to connect donors to top researchers across the country.

Seacoast Names Andrews Executive VP, CAO

Seacoast Commerce Banc Holdings and its wholly owned subsidiary Seacoast Commerce Bank announced the hiring of Scott R. Andrews as the executive vice president and chief administrative officer for both the company and the bank.

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Business Events Calendar for April 13, 2015

Some of the business events scheduled in the county for the week of April 13, 2015, and beyond.

Thursday, April 9

Port Commissioners to Meet to Discuss Hiring CEO

The Board of Port Commissioners of the San Diego Unified Port District has scheduled two closed session meetings, on April 10 and 11, to discuss the appointment of a new president, chief executive officer and executive director.

Michelle Sterling Named Executive VP for Human Resources at Qualcomm

Qualcomm Inc. said it has named Michelle Sterling as executive vice president of human resources, effective May 4.

$3.7 Million Land Lease Clears Way for Car Wash, 7-Eleven

Car-wash operator Washman LLC and property owner Sunshine Finance Corp. have completed a $3.7 million land lease agreement for a San Diego property where convenience retailer 7-Eleven also plans to open a new store, according to Voit Real Estate Services.

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Arena Receives Patent for Weight-Loss Drug Belviq

Arena Pharmaceuticals Inc. said it has received another patent for its weight-loss drug Belviq.

Qualcomm Life Launches HealthyCircles Mobile App

Qualcomm Inc. announced Wednesday that its subsidiary, Qualcomm Life Inc., launched an enterprise care management app for patients managing chronic disease.

Green Flash Debuting New Tasting Room at Poway Facility

San Diego-based Green Flash Brewing Co. plans a May 16 opening for Cellar 3, a new tasting room and specialty brewing facility that it will operate in Poway.

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Mayo Clinic Exec Karen Jensen Joins Scripps Health

Longtime Mayo Clinic executive Karen Jensen has joined Scripps Health as director of the oncology clinical care line for the health system’s integrated cancer program.

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Scripps Ranch Office Building Sells for $2.45 Million

BKC Commercial Properties LLC has purchased a Scripps Ranch office and retail building for $2.45 million, according to CoStar Group and public data.

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Wednesday, April 8

Aethlon Announces Reverse Stock Split, Nasdaq Listing Application

San Diego-based Aethlon Medical Inc., a therapeutic device maker, announced Wednesday that it will implement a 1-for-50 reverse split of its common stock. It separately announced that it has submitted an initial listing application with the Nasdaq Stock Market to have its common stock approved for listing on the exchange's Capital Market.

Eco Building Products Establishes Board of Directors

Vista-based Eco Building Products, Inc., a manufacturer of treated wood products resistant to fire, mold and bugs, announced the establishment of a company board of directors.

Two Lawsuits Filed Over One Paseo Project

Three community groups and a competing shopping center owner have filed separate lawsuits aimed at blocking the controversial One Paseo mixed-use development in Carmel Valley, proposed by Kilroy Realty Corp. and recently approved by San Diego City Council.

Cubic Gets $6 Million Contract from New Zealand

Cubic Corp. said on April 8 that it received a contract worth more than $6 million from the government of New Zealand to design, supply and install a weapons training range.

Doubletree Hotel in Mission Valley Sells for $49.2 Million

An affiliate of Los Angeles-based Oak Coast Properties LLC has acquired the 219-room Doubletree San Diego-Hotel Circle in Mission Valley for approximately $49.2 million, according to CoStar Group and public data.

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Qualcomm Declares Dividend of 48 Cents Per Share

Qualcomm Inc. declared a dividend of 48 cents per share on April 8.

Poway Industrial Building Sold for $7.75 Million

A buyer recorded as 12460 Kirkham LLC has acquired a Poway industrial building for $7.75 million, according to brokerage company Pacific Coast Commercial, which represented the buyer.

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New Owner Closes Several Coco’s, Carrows Restaurants, Lays Off 100 Workers

The new owner of Carlsbad-headquartered Catalina Restaurant Group has closed an undisclosed number of Coco’s Bakery and Carrows restaurants, citing lagging sales performance.

Tuesday, April 7

Five North County Cities Launch Innovate78 Initiative

Five North County cities have launched a branding and economic development initiative to collectively promote the state Route 78 corridor and increase their capacity to retain, expand and attract talent, companies and investment.

Sullivan International Group Files for Chapter 11 Bankruptcy Protection

San Diego-based Sullivan International Group, Inc. announced Tuesday that it has filed for Chapter 11 bankruptcy protection.

Kyriba Receives $21 Million in Series C Funding

Kyriba Corp. said on April 7 that it received $21 million in series C funding.

U.S. Army Awards $24 Million Contract to Cox Construction

Vista-based Cox Construction Co. received a $24 million U.S. Army contract to put up a building in Orange County. The Army Reserve Center in Tustin will include a training building for the 600-member unit, an organizational maintenance shop and a storage building.

Deadline Set for QPrize Competition

Qualcomm Ventures set a July 10 deadline to apply for its annual QPrize international seed investment competition.

Rady Foundation Commits $100 Million to UC San Diego Management School

Local philanthropists Ernest and Evelyn Rady have committed $100 million to Rady School of Management at University of California San Diego, to help the school recruit and retain faculty and support other strategic priorities.

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Pacific Beach Mixed-Use Property Sold for $2.57 Million

Abeles Family Trust has acquired a mixed-use retail and office property in Pacific Beach for approximately $2.57 million, according to brokerage company The Franco Realty Group, which represented the seller.

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Navy Awards Lockheed Martin $8.3 Million Contract

Lockheed Martin Corp. received an $8.3 million contract to provide one year of planning and support for two U.S. Navy Littoral Combat Ships, the USS Freedom and USS Fort Worth. Half of the work will be done in San Diego, the other half in New Jersey.

Realty Income Initiates $276.7 Million Stock Offering

Realty Income Corp. has initiated a public offering of common stock, with expected net proceeds of approximately $276.7 million.

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Monday, April 6

Bill Havrilla Promoted to VP of Operations at Collicutt Energy

Collicutt Energy Services Inc., one of the largest providers of power generation systems in the West, has promoted San Diego-based Bill Havrilla to vice president of operations.

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Headset Maker Turtle Beach Corp. Announces Hiring of Two Executives

Turtle Beach Corp., a San Diego designer and marketer of audio products such as headsets used with video, has added two new members to its senior management team.

MabVax Raises $11.6 Million in Private Placement

Cancer vaccine maker MabVax Therapeutics Holdings Inc. announced Monday that it has closed on gross proceeds of about $11.6 million in a private placement of its stock led by OPKO Health Inc. and Dr. Phillip Frost, CEO and chairman of OPKO Health.

Trigild Adds 3 SoCal properties to Management Portfolio

San Diego-based real estate services provider Trigild has taken over management of three Southern California commercial properties valued at over $130 million and totaling nearly 700,000 square feet, including two in San Diego.

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Newland Partners to Acquire Housing Projects in Colorado, Texas

San Diego-based housing developer Newland Communities and North America Sekisui House LLC have acquired land assets in four master-planned communities in Denver, Dallas and Austin, Texas, for an undisclosed price.

Cytori Therapeutics Gets Clearance From Chinese Regulators

Shares of San Diego-based Cytori Therapeutics jumped Monday after the company said Chinese regulators cleared its regenerative cell technology system.

Sunday, April 5

Sorrento Mesa Office Campus Sells for $85.5 Million

A real estate affiliate of Dallas-based Invesco Advisors Inc. and San Diego-based developer Cruzan have acquired a two-building office campus in Sorrento Mesa for $85.5 million, according to CoStar Group and public data.

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Aethlon Subsidiary to Collaborate With University on Cancer Research

San Diego-based Aethlon Medical Inc., a company developing targeted therapeutic devices to address infectious diseases and cancer, announced that its majority-owned subsidiary Exosome Sciences Inc. has entered into a research collaboration with Thomas Jefferson University.

The Business Calendar for the Week of April 6, 2015

Some of the business events planned in the county for the week of April 6, 2015, and beyond.

Grocer Fresh & Easy Closing Four Local Stores

Four San Diego County stores are among 50 in three states being closed soon by Fresh & Easy Neighborhood Market, as the struggling small-format grocery chain continues to make changes to its business model.

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Investment Firm Westcore Properties Names Bateman Its COO

San Diego-based commercial real estate investment firm Westcore Properties has named Matthew Bateman as its new chief operating officer.

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San Diego Private Bank Names New CEO

San Diego Private Bank announced that Thomas Wornham will become president and chief executive officer effective May 1, 2015.

General Atomics ASI Announces Three Defense Deals

General Atomics Aeronautical Systems Inc. of Poway received two contract modifications, worth $47.7 million and $14.8 million, from the U.S. Army for the acquisition of ground equipment for unmanned aircraft.

Tech Innovators Are Sought for Accelerator Program

hrough the years, the people at the U.S. Navy lab on Point Loma have dreamed up all sorts of advanced and imaginative technologies. Their ideas include a radio antenna made from a stream of seawater, and a high-velocity spherical microbot.

Friday, April 3

General Atomics ASI Announces Army Contracts

General Atomics Aeronautical Systems Inc. of Poway received two contract modifications, worth $47.7 million and $14.8 million, from the U.S. Army for the acquisition of ground equipment for unmanned aircraft. Work will take place over the next two years. The Army Contracting Command at Redstone Arsenal, Ala. awarded the deals, announced April 1 and 2.

Senate Must Not Undo Bipartisan ‘Doc Fix’

If you have been following health care news, you may have noted that, with some fanfare, the U.S. House of Representatives, in a 392-37 vote, approved House Resolution 173, the so-called “Doc Fix” legislation that addresses physician reimbursement under Medicare. This bill would repeal the sustained growth rate (SGR) formula under which Medicare compensation to physicians has been calculated to date.

New Port of Entry Can Open Up Avenues of Trade

In less than two weeks, the San Diego Regional Chamber of Commerce heads to Mexico City, leading its 10th annual trade delegation to the capital of California’s largest trading partner. The focus of the delegation’s visit will be the four agreements signed between the State of California and the Mexican federal government.

S.D. Architecture Has Quite a Past, Present and Promising Future

There are many things that come to mind when people think of San Diego. Among them are its world-famous San Diego Zoo and Safari Park, the perfect weather and, of course, the 70 miles of fantastic beaches along the county’s coastline.

Sorrento Mesa Campus Sells for $85.5 Million

A real estate affiliate of Dallas-based Invesco Advisors Inc. and San Diego-based developer Cruzan have acquired a two-building office campus in Sorrento Mesa for $85.5 million, according to CoStar Group and public data.

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Medical Device Degree Tailored For Working Professionals

The University of California, San Diego is offering a graduate degree program within its Jacobs School of Engineering designed for working professionals who want to fine-tune skills in bioengineering, biomaterials, genomics, computing and telecommunications.

Company Hopes Sleep Exhibit Is an Eye-Opener for the Public

BIOTECH: Firm Finds Unusual Way to Spread Word on Sleep Disorders

ResMed Inc. has partnered with the San Diego History Center to create The Science of Sweet Dreams exhibit showcased in Balboa Park this spring.

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Health Care Leadership: The Views From the Top

The San Diego Business Journal invited the leaders of the region’s six major health care organizations to answer the following question: What one thing do you do every day that contributes to the success of your health system?

Means to a Mend

BIOTECH: Medical Device Companies Change Care Models and Lives With Breakthroughs

Medical devices often play second fiddle to the more glamorous blockbuster drugs, rarely earning the spotlight for major medical breakthroughs. But they include genuine miracles of modern medicine: pacemakers, artificial joints, replacement heart valves, scanners, and radiotherapy machines.

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Game Changers Helps Run Up the Score for Local Food Bank

Union Bank partnered with the San Diego Chargers to raise funds for the Jacobs & Cushman San Diego Food Bank over the course of the Chargers’ 2014 season.

Bank Announces Leadership Change

San Diego Private Bank announced that Thomas Wornham will become president and chief executive officer effective May 1, 2015.

Construction Set for This Month on 37-Story Ballpark Village

Another East Village apartment project will soon join the hubbub of earth-movers and cranes now reshaping the downtown San Diego landscape.

Former Judge Puts His Skills to Use in Dispute Resolution

Retired San Diego Superior Court Judge Thomas Nugent has opened a private dispute resolution practice in downtown San Diego.

Inventor Is Looking to Take ‘Selfies’ to Some New Heights

Tyler McGahee may be on to something with the selfie drone.

Can You Not Hear Me Now? Earplugs Aim for Quiet Victory

TECH: Kickstarter, Angel Investors Back Students’ Company

Daniel Lee had a tough decision to make. Would he stick to his advertised schedule and give the market a product that he knew was less than optimal? Or would he make some major, last-minute design changes, improving user experience but setting the project back three months?

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Investment Firm Westcore Properties Names New COO

San Diego-based commercial real estate investment firm Westcore Properties has named Matthew Bateman as its new chief operating officer.

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Manchester Sells Majority Stake in Grand Del Mar

TOURISM: The 88% Share Being Bought Is Valued at $230 Million

Private equity firm Blum Capital and the parent of Fairmont Hotels & Resorts are acquiring a majority stake in Carmel Valley’s Grand Del Mar resort for a reported $230 million.

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Seeing the Business World Through Millennial Eyes

Millennial perspectives (MP), knee-jerk boomer reactions (KJBR) and contemplations from the 6 Degrees networking event “Millennials in 2015: How they’ll lead San Diego”:

Two S.D. PR Firms Merge

Long-standing San Diego-based public relations firms Nuffer, Smith, Tucker and Gable PR are merging operations.

SDG&E Gets FAA Approval for Use of Drones

UTILITY: Aircraft Could Help Company in Emergency Responses

The Federal Aviation Administration has granted San Diego Gas & Electric permission to use unmanned aircraft systems (UAS) to conduct aerial inspections of the public utility’s electric and gas facilities, including emergency response damage assessments throughout its service territory.

Liberty Station Keeps Recruiting

PROPERTY: Synergy Seen In Growing Tenant Ranks

Nearly 20 years after it was shuttered by the military, the conversion of the former Naval Training Center in Point Loma into a vibrant commercial and cultural attraction appears to be shifting into high gear.

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New Dry Dock Sign of Navy’s Pivot to Pacific

DEFENSE: More Ships, Jobs And Defense Work Are Likely

BAE Systems Ship Repair is buying a new, larger dry dock for its Barrio Logan yard, and company officials said they plan to increase the yard’s workforce by as many as 500 people over five years.

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Fresh & Easy Closing Four Local Stores

Four San Diego County stores are among 50 in three states being closed soon by Fresh & Easy Neighborhood Market, as the struggling small-format grocery chain continues to make changes to its business model.

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Making The Case

BIOTECH: Illumina’s New Machine Does Actual Detective Work

llumina Inc. has developed a technology that could transform the work done by crime scene investigators, helping to solve cold cases by uncovering the information hidden in degraded DNA.

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Aethlon Subsidiary to Collaborate With Thomas Jefferson University in Cancer Research

San Diego-based Aethlon Medical Inc., a company developing targeted therapeutic devices to address infectious diseases and cancer, announced that its majority-owned subsidiary Exosome Sciences Inc. has entered into a research collaboration with Thomas Jefferson University.

Business Calendar for Week of April 6, 2015

Some of the business events planned in the county for the week of April 6, 2015.

Thursday, April 2

Tech Innovators Sought for Accelerator Program

Through the years, the people at the U.S. Navy labs on Point Loma have dreamed up all sorts of advanced and imaginative technologies. Their ideas include a radio antenna made from a stream of seawater, and a high-velocity spherical microbot. Now the Navy and some private sector partners are looking for a few good entrepreneurs to take those technologies to the commercial market.

Conatus Pharmaceuticals to Hold Follow-On Stock Offering

Conatus Pharmaceuticals Inc. plans to hold a follow-on stock offering, the developer of liver disease drugs said Thursday.

General Dynamics Nassco Gets $61.8 Million Navy Award

General Dynamics Nassco said on April 2 that it made the initial cuts of steel on the third ECO tanker to be built for American Petroleum Tankers.

Miramar Industrial Building Sold for $4.3 Million

Kenamar Group LLC has purchased a Miramar industrial building for approximately $4.3 million, according to Colliers International, which represented the seller.

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Four Local Craft Brewers Among Nation’s 50 Largest

Four San Diego County-based companies, led by Escondido’s Stone Brewing Co., made this year’s annual ranking of the top 50 U.S. craft beer makers based on 2014 sales volume, published by the Colorado-based Brewers Association.

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Councilman Proposes Mixed-Use Project For New Stadium

San Diego City Councilman Scott Sherman has proposed a mixed-use redevelopment of the current Qualcomm Stadium site in Mission Valley that would include a new stadium for the San Diego Chargers, using various potential combinations of mostly private dollars to finance the $1.2 billion project.

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William Markle Named CEO/President of GlySens Inc.

San Diego-based GlySens Inc. has appointed William Markle as the company's new president and CEO.

PR Firms Nuffer, Smith, Tucker and Gable PR merge operations

Two long-standing San Diego-based public relations firms -- Nuffer, Smith, Tucker and Gable PR – are merging their operations.

Wednesday, April 1

NuVasive's CEO Steps Down For Reported Violations of Company Policy

Alex Lukianov has resigned as chief executive officer and chairman of the board at NuVasive, Inc. for reportedly violating company policies regarding reimbursement and personnel.

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Kirkpatrick Conley Appointed COO of Tri-City Medical Center

Tri-City Medical Center announced the appointment of Kirkpatrick “Kapua” Conley as chief operating officer.

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San Diego Regional Chamber Awarded 3-Star Accreditation

The San Diego Regional Chamber of Commerce announced that it has been awarded 3-Star Accreditation by the U.S. Chamber of Commerce for its sound policies, effective organizational procedures and positive impact on the community.

Colliers International Hires La Dow to Head San Diego Operations

Commercial real estate services company Colliers International has named Andy La Dow as its new regional managing director for San Diego County operations, overseeing 100 real estate professionals at offices in San Diego and Carlsbad.

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Local Firm Acquires 768-unit Anaheim Apartment Property

A partnership that includes Boston-based Intercontinental Real Estate Corp. and San Diego-headquartered MG Properties Group has acquired the 768-unit Madison Park Apartments in Anaheim for an undisclosed price.

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Dean Hakanson Named Chief Medical Officer at Otonomy

San Diego-based Otonomy Inc., a company that makes treatments for the middle and inner ear, announced the appointment of Dr. Dean Hakanson as chief medical officer.

American Wave Machines Names Reynolds to COO Position

American Wave Machines Inc., a maker of artificial wave technology, announced that the company has hired Robert Reynolds as its new chief operating officer.

George Ng Joins Sorrento Therapeutics

Sorrento Therapeutics Inc. announced the appointment of George Ng to the position of executive vice president and chief legal officer.

EDF Renewable to Manage Balko Wind Project

EDF Renewable Services, a provider of renewable operations and maintenance services in North America, announced the signing of an asset administration agreement with D. E. Shaw Renewable Investments L.L.C. for the 300 megawatt Balko Wind project in Oklahoma.

aTyr Pharma Announces Completion of $73 Million Series E Financing

San Diego-based aTyr Pharma Inc., a biotherapeutics firm that treats diseases of the immune system, announced the completion of a $76 million Series E financing on Tuesday.