San Diego Business Journal

SD BUSINESS JOURNAL DAILY ENEWS

Median Housing Price Increases in August

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

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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.

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.

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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.

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.

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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.

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.

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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.

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.

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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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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.

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.

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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.

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.

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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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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.