Stories for July 2021

Friday, July 30

Special Report: Finance

San Diego Banks Hit Record Q2 Income - Region's Firms See Both Loans and Deposits Grow

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40 Next Top Business Leaders Under 40 2021 - Winners Announced

The San Diego Business Journal will honor young professionals — leaders, change makers and innovators — who are making waves, creating impact and leaving a positive mark on the San Diego community. We’re looking for the next generation of key executives and entrepreneurs.

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Mitek Systems Q3 Revenue Up 25%

Mitek released its fiscal third quarter results.

Bankers Hill Apartments Sold

Built in 1926

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Thursday, July 29

Air Canada Resumes Service to Vancouver from San Diego

Air Canada suspended service in March 2020 due to COVID-19.

Sony Electronics Increases Offerings

Innovative Product Releases to Help Increase Annual Sales

Sony Electronics Inc., the San Diego-based audio/video electronics and information technology products manufacturer, continues to increase its product line.

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BlueNalu Named Xprize Semifinalist

Co. Expects to Test Markets Next Year

BlueNalu, a food company producing seafood directly from fish cells, is among 28 semifinalists for the $15 million XPRIZE Feed the Next Billion, organizers of the competition announced.

Mission Fed Inks Deal with Padres

Mission Federal Credit Union has signed a three-year sponsorship agreement with the San Diego Padres.

TCA Raises Largest Fund Since its Inception

FINANCE: Group Attracts More Than $5 Million For Latest Annual Fund

The San Diego chapter of the Tech Coast Angels, the region’s largest network of investors in early-stage companies, has raised over $5 million for its annual fund surpassing last year’s amount of $4.7 million.

Wednesday, July 28

Nominate Today - Women of Influence in Life Sciences

Click Here to Nominate Today

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Omega 3 Co. Launches Pet Supplements

The Coromega Company Drops Pup Packets

The Coromega Company, Inc., the Vista-based maker of nutritional supplements, wants furry friends to get their nutriments, too.

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No Room at The Lab

Demand for Life Science Space Reaches Record Levels

Demand for life science space is reaching record levels as venture capital money pours into the region.

Stemson Therapeutics Closes $15M Series A

BIOTECH: Co. Working on Genetic Therapy for Hair Loss

Stemson Therapeutics, a biotech company working on a cure for hair loss, closed a $15 million Series A funding round on July 15.

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Chula Vista Apartment Complex Sold

$4.3 million sale

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Otay Mesa Industrial Building Sold

Newly built

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San Marcos Apartments Sold

$6.8 million sale

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Tuesday, July 27

Fashion Week S.D. Takes to New York

First In-Person Event Hosted at Sotheby’s

Fashion Week San Diego (FWSD) is taking New York. The organization is marking its return to in-person events with “The Art and Beauty Behind Fashion,” to be hosted in New York City on July 24.

Two San Diego Cos. Make Walmart’s Open Call Competition

RETAIL: Both Expect Annual Revenues to Drastically Increase

Two San Diego companies have made it through Walmart’s Open Call.

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$14 Million Apartment Project Completed

Downtown Chula Vista Drawing Developer Interest

Downtown Chula Vista has gained a $14 million apartment project as the city’s drive to improve its core neighborhood is drawing developer interest.

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San Diego Seeing Tightest Housing Market in Years

Even with Some Buyer Fatigue, Prices Still Rising and Multiple Offers Commonplace

Buyer fatigue has hit San Diego’s real estate market as some people are taking a break after making offers on several homes to no avail, according to several real estate agents.

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Monday, July 26

Cannabis Delivery Service Enters San Diego Market

The delivery hub will also provide 20-30 new job opportunities for the local Chula Vista community.

Shroom Boom Coming to Vista

PROPERTY: Health Food Supplement Co. Signs $25M Lease

A Carlsbad company that makes mushroom powder as a health food supplement is moving to a Vista industrial and office building, where it signed a $25 million lease.

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Navy Region Gets a New Commander

Former Coronado Base C.O. Takes ‘Navy Mayor’ Post; Bolivar Retires

San Diego has a new “Navy mayor.” Rear Adm. Stephen D. Barnett relieved Rear Adm. Bette Bolivar as commander, Navy Region Southwest during a change of command ceremony on July 16 at Naval Base Coronado.

Partners

SDBJ Insider

The San Diego Workforce Partnership along with help from the city of San Diego, is expanding three workforce training programs that help underrepresented communities secure quality jobs and help them start meaningful careers in both he public and private sector.

Sorrento Mesa Office Buildings Sold For $146M

296,327 square-foot project

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PerkinElmer Agrees to Acquire BioLegend

Deal worth approximately $5.25 billion

Sunday, July 25

New York Firm Buys Suja Life

BEVERAGES: Co. to Remain in San Diego

Suja Life, LLC, the Oceanside-based organic, cold-pressed juice company, has been sold.

Wugen Secures $172M Series B

BIOTECH: Funding Backs Cell Therapy

Wugen, Inc. raised $172 million in Series B funding to advance its pipeline of off-the-shelf cell therapies for cancer. The oversubscribed financing will also help the Missouri-based biotech grow its presence in San Diego.

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Q2 Venture Funding Tops $2 Billion

STARTUPS: Third Consecutive Quarter of Record Investments

San Diego’s venture capital funding in the first half of 2021 shattered records as $2 billion was invested in the second quarter into fast-growing companies.

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Cellink Acquires Discover Echo

TECH: Co. Purchased for $110M Cash and Shares

Cellink, a multibillion-dollar unicorn startup in Sweden, has acquired San Diego-based Discover Echo for $110 million.

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FutureProof Raises $3 Million

Co. Helps Investors, Lenders, Insurers Better Assess Climate Risk

FutureProof, a San Diego fintech startup focused on the financial risk of climate change, has raised a $3 million round of seed funding.

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Friday, July 23

San Diego Auto Show Returns

The annual event is scheduled to run from December 30, 2021, through January 2, 2022.

Understanding the Post-Pandemic Cyber Threat Landscape

Cybersecurity Panel Discussion

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Special Report: Residential Real Estate

San Diego Seeing Tightest Housing Market in Years

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SENTRE Buys Temecula Industrial Building

$40.8 million sale

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Thursday, July 22

Ubiq Collects SBIR Award From Army

Cybersecurity Firm to Provide Next-Generation Encryption

Ubiq Security Inc., a cybersecurity startup based in Carmel Valley, announced on July 14 that it received a Small Business Innovation Research (SBIR) grant from the U.S. Army’s Combat Capabilities Development Command.

PureFish Now Available in Stores

Taking High Quality Seafood to Local Retailers

PureFish, founded in 2002 and headquartered in Bankers Hill, is taking its high-quality seafood to local retailers.

Wednesday, July 21

PacBio Acquires San Diego Startup Omniome

Pacific Biosciences will acquire San Diego-based Omniome in deal worth up to $800M

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DermTech Finds New Headquarters

Dermtech (NASDAQ:DMTK) said it plans to expand into a new building in Del Mar Heights.

Vista Apartment Complex Sold

$9.5 million sale

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Poseida Partners with Cellares to Streamline Genetic Manufacturing

BIOTECH: Co. Gains Access to Cell Shuttle Technology

Poseida Therapeutics (Nasdaq: PSTX) announced a partnership with Bay-area start-up, Cellares Corporation to utilize its technology platform to accelerate cell manufacturing.

Apartment Complex Makes a Mark

Normal Heights Project Draws Both Design Praise, Criticism

A Normal Heights apartment project has drawn praise and criticism for its distinctive design and appearance.

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Stelios Therapeutics Acquired

Local biotech, Stelios Therapeutics, acquired by LEXEO Therapeutics

Carlsbad Office Building Sold

$19.5 million sale

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Koshley to Head Ware Malcomb

Replaces Tiffany English

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Miramar Business Park Sold

Six-building sale

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Westcore Buys Ventura County Warehouse

$20 million sale

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Stos Partners Buys Pomona Warehouse

$22.3 million deal

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Hospitality Group Continues to Rebound

Weekend Bookings Beyond 2019 Numbers

R.A. Rauch and Associates, a San Diego-based hospitality company with three hotels in the county, is continuing to see business increase post COVID-19.

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Tuesday, July 20

Avidity Biosciences CEO Reflects on Going Public in 2020

BIOTECH: Sarah Boyce Speaks About Completely Virtual IPO Process

The past year has changed everything about what it means for a biotech company to go public, according to Avidity Biosciences President and CEO Sarah Boyce.

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New Service Promises to Make Home Shopping Easier

REAL ESTATE: Co. Uses AI to Give Buyers More Details in Home Searches

A former San Diego aerospace engineer has formed a technology-based real estate company that uses artificial intelligence with a goal of revolutionizing the way people search for houses online.

Monday, July 19

Rancho Santa Fe Center Sold

Five buildings

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Car Wash Sold

$5.8 million sale

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San Diego-Tijuana Selected as World Design Capital Finalist

The World Design Organization chose San Diego-Tijuana based on its “approach to human-centered design, its use of design as a vehicle for improved quality of life and commitment to cross-border collaboration,” according to the organization.

San Diego Regional EDC: Increasing Optimism Despite Continued Challenges

Surveying the Changing Business Landscape in San Diego

The COVID-19 pandemic has impacted every facet of life, including how businesses operate.

On Board

SDBJ Insider

Endera, the San Diego-based all-electric commercial vehicle company is adding Joe Pritchard as a member of its board.

New MiraCosta Building Designed to Inspire

ARCHITECTURE: Planned With More Than Simply Taking Classes in Mind

When MiraCosta Community College set about building a $37.4 million chemistry and biotechnology building, the college wanted something more than a place for students to simply take classes and perform experiments.

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Spring Valley Housing Development Planned

KB Home to Build Mix of 203 Townhomes, Single Family

KB Home plans to build a Spring Valley development that will have 203 homes in a mix of townhomes and single-family homes.

GA-ASI to Build Aircraft for France

Remotely Piloted MQ-9 Is Called ‘Reaper’ by Other Militaries

The U.S. Air Force awarded General Atomics Aeronautical Systems Inc. a $79.4 million delivery order to a previously awarded indefinite-delivery, indefinite-quantity contract for the France MQ-9 Block 5 aircraft procurement program.

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Executive Q&A: Dan Shea – CEO, Feeding San Diego

NONPROFIT: He Says It Is a Privilege to Serve Such a Reputable Organization

Dan Shea has been CEO of Feeding San Diego since November 2020, the county's leading hunger relief and food rescue organization. He served as interim CEO starting in July 2020.

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Sunday, July 18

New Port of Entry Will Open in 2024

TRADE: 21st Century Border Crossing to Expand Capacity

A new port of entry at the U.S.-Mexico Border in Otay Mesa is scheduled to open in late 2024.

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Oberon, Los Alamos Produce Hydrogen Fuel

TECHNOLOGY: Business, Federal Lab Plan to Scale Experiment Dramatically

Little Italy-based Oberon Fuels has teamed up with Los Alamos National Laboratory to create a new way to distribute hydrogen fuel for the tanks of futuristic vehicles.

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Uqora Acquired by Pharmavite

BIOTECH: Co. Joins Maker of Nature Made

Pharmavite, the maker of Nature Made vitamins and supplements, acquired local life science company Uqora Inc. to expand its offerings of women’s health products.

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$300M Housing Project Planned

REAL ESTATE: Former Golf Course to Be Site

A $300 million housing development is planned for a former golf course in Carmel Valley.

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Northrop Grumman Division Fine Tunes Advanced Radio

TECHNOLOGY: Goal Is to Help Military Connect ‘Any Sensor With Any Shooter’

Northrop Grumman Corp. (NYSE: NOC) stood up a new division in San Diego this year, with a focus on advanced military radio communications.

Friday, July 16

Hillcrest Apartments Sold

Six-apartment project

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Thursday, July 15

BAE Receives $90M in Shipyard Work

USS San Diego Pauses for Maintenance, Modernization and Repair

The U.S. Navy awarded BAE Systems San Diego Ship Repair a $90.3 million firm-fixed-price contract for shipyard work on the USS San Diego.

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Factory Operation Moves to Carlsbad

Nordson’s Expansive Plant Set to Produce Soldering Machines

Factory equipment maker Nordson Corp. (Nasdaq: NDSN) is moving certain operations from the Pacific Northwest to Carlsbad, a location where it already employs 600 people.

HCAP Invests in 5th Kind

HCAP Partners has invested in 5th Kind

Wednesday, July 14

Suja Life Acquired by Paine Schwartz Partners

Financial terms of the transaction were not disclosed.

Ensysce Biosciences Closes SPAC Merger

BIOTECH: Latest Example of San Diego Life Science Cos. Going Public

Ensysce Biosciences is the latest local company to join the public market after closing the merger deal on July 1. The company will be trading its common stock on the Nasdaq under the ticker symbol “ENSC” and warrants under the ticker symbol “ENSCW” on the OTC Market.

Cortica, Inc. Secures $60 Million Series C Funding

HEALTHCARE: Co. Plans to Expand Autism Care Model

Cortica, Inc. secured $60 million in Series C funding to expand its technology-centered care model for children with autism and neurodevelopmental differences.

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La Mesa Apartments Sold

75 apartment complex

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Miramar Industrial Park Sold

Five buildings

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Trust to Open Second Butcher Shop

The Wise Ox Launches in November in Carlsbad

Trust Restaurant Group, the Hillcrest-based hospitality group founded in 2016, is taking its butcher shop, food and beverage concept to North County.

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Tuesday, July 13

Cazador Investments Buys Apartment Complexes

Vista apartments included

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Seaside Equity Partners Sees Opportunity in San Diego

FINANCE: Firm Raised $160M Oversubscribed Debut Fund

Seaside Equity Partners has emerged with its debut fund closing $160 million from investors, becoming one of San Diego’s largest private equity firms.

San Diego Bar Wins Pitch Competition

Awarded $10,000 to Continue to Scale the Co.

San Diego Bar, a locally headquartered company that manufactures all natural, raw, vegan and gluten free bars, was recently named the winner of the Samuel Adams “Brewing the American Dream” San Diego Pitch Room Competition.

When It Comes to Apartments, Luxury Is In Demand

Downtown Tower Construction Has Continued Unabated

San Diego’s appetite for luxury apartments is coming back as strong as ever, if it even waned during the COVID-19 pandemic.

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Monday, July 12

Tower 16 Acquired Phoenix Apartment Complex

$30 Million sale

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Stos Partners Buys Simi Valley Property

$20 million deal

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Firm Takes on Global Warming

All New Miller Hull Partnership Projects Aim to Be Carbon Neutral

The architectural firm of the Miller Hull Partnership based in Seattle with offices in San Diego said that all its projects from now on will aim at being carbon neutral, with a National City mixed-use project among the first.

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Health Resources

SDBJ Insider

The Scripps Mercy Family Medicine Residency Program will be receiving $2.85 million in grant funding from the Health Resources and Services Administration.

La Costa Shopping Center Gets $10M Renovation

REAL ESTATE: Look and Feel of Center Upgraded with New Shops, Open Areas

A La Costa shopping mall has undergone a more than $10 million renovation as property owners upgrade the look and feel of the center with new shops and open areas for people to gather.

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Kilroy Building Tower in Little Italy

Pacific Highway Property Covers Full City Block

Kilroy Realty Corp. based in Los Angeles has acquired property in Little Italy for $42 million with plans to build an office tower on it.

Father Joe Carroll, Homeless Advocate, Dies at 80

The Rev. Joe Carroll, better known to San Diegans as Father Joe, died early in the morning of July 11 at age 80.

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Erasca, Inc. Prices IPO

Clinical-Stage Biotech Offers Over 17 Million Shares

Sunday, July 11

Sempra Boosts 2021 Guidance

UTILITIES: 2022 Forecast Is Bigger Still

Sempra Energy (NYSE: SRE) made several statements about its future when it held its investor day at the end of June.

Element Biosciences Raises $276 Million

BIOTECH: Co. Plans to Hire 40 More Employees

Element Biosciences, a company developing DNA sequencing technology, has raised $276 million in new financing from ten venture capital firms.

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Tri-City Expands Service to Kaiser Patients

HEALTHCARE: Pact Benefits Kaiser’s 185,000 North County Members

Medical options for North County residents are changing with a new deal between Kaiser Permanente San Diego and Oceanside’s Tri-City Medical Center.

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San Diego Bay Wine + Food Festival Returns

TOURISM: Event’s Economic Impact Expected to Be $8.5 Million

The San Diego Bay Wine + Food Festival, the annual food and wine event that draws just over 11,000 attendees, is returning to the Embarcadero. Founded in 2004, the festival was postponed last year due to COVID-19.

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Seismic Revenue Surpasses $200M

TECHNOLOGY: Co. May Pursue IPO

Seismic, a company which develops software for sales professionals, has surpassed $200 million in revenue and will consider going public over the next year.

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Friday, July 9

Special Report: Luxury Apartments

When It Comes to Apartments, Luxury Is In Demand

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Thursday, July 8

One Paseo Earns Gold Nugget

PCBC Awards Development Best Mixed Use Project

Kilroy Realty Corp.’s One Paseo development in Carmel Valley has won a top award from the Pacific Coast Builder’s Conference (PCBC) as the best mixed use project of the year.

Synergy Health Names 3 to Executive Management Team

HEALTHCARE: Business Fills Marketing, Revenue Cycle Management, Credentialing Jobs

Synergy Health Partners, an outsource physician staffing and call management company based in Carmel Mountain Ranch, announced the appointment of several new executives on June 29.

Hotels Recovering, Gaining Business from Leisure and Drive Market

Strong Results Expected to Continue From Pent-Up Demand

With San Diego fully reopening its economy this past June 15, local hotels, one of the hardest hit sectors amid the pandemic, are in recovery mode as operators continue to aggressively target the leisure and drive markets.

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Drata Raises $25M Series A Funding

Co. Lands 100th Customer, Growing Rate is 100%

San Diego-based Drata, which aims to help thousands of companies streamline their SOC 2 compliance, has raised $25 million in Series A funding.

North San Diego Business Chamber Has New Chair, Board Members

The North San Diego Business Chamber elected a new board of directors for 2021-2022, announcing results on July 8. Stacey Hrountas, CEO of Sharp Rees-Stealy Medical Centers, will be taking the chair role.

Wednesday, July 7

Belgian Waffle Ride Makes a Return

Three-Day North County Expo to Kick Off July 16

The Belgian Waffle Ride, organized by Encinitas-headquartered Monuments of Cycling, is making a return to San Diego after a year off due to the coronavirus crisis.

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Northrop Grumman Nets $54M Deal

Contractor Will Provide Support for Unmanned BAMS-D Aircraft

The U.S. Navy awarded Northrop Grumman Corp.’s San Diego office a $53.8 million cost-plus-fixed-fee contract supporting the RQ-4A Global Hawk Broad Area Maritime Surveillance - Demonstrator (BAMS-D) aircraft.

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CollegeSource Expands Presence and Services

TECHNOLOGY: Edtech Co. Has 2,000 Universities Using its Products

San Diego-based CollegeSource, an education technology company, continue to grow its local presence and anticipates continued growth after surpassing 50 years in business.

Seraphina Therapeutics Gains GRAS Status for FA15

BIOTECH: Co’s. Tech Is Based on the First Fatty Acid Discovered in 90 Years

San Diego-based Seraphina Therapeutics, a biotechnology company focused on health and wellness, has received generally recognized as safe status (GRAS) from the Food and Drug Administration for its FA15 essential fatty acid powder.

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Tierrasanta Shopping Center Sold

$15.5 million deal

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Tuesday, July 6

Capstone Advisors Sells Land and Restaurant

Land sale was $9 million

Alpine Apartment Projects Sold

$54.1 million sale

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Chula Vista’s Western Neighborhoods Draw New Development

REAL ESTATE: Long Ignored Areas See Growth Trend

Silvergate Development based in Point Loma is building new apartment projects in Chula Vista as part of what’s becoming a growing push for development in the city’s west side that had long been ignored.

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Transformed from Blocky to Dramatic

Aging Office Building Seeing Big Changes

An aging Torrey Pines office building is being completely redone for BioMed Realty into a life science mecca that turns the traditional work environment on its head.

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Quantum-Si Expands to Sorrento Mesa

LIFE SCIENCES: New Public Co. Sees Growth Potential in Local Biotech Community

There’s a new public company moving into San Diego’s biotech community — Quantum-Si Incorporated (NASDAQ: QSI) signed a lease to develop a 25,586-square-foot product development and operations facility in Sorrento Mesa.

Cybersecurity Basics Taught in Game

Sentek Executive’s Side Project Aims to Build Up Workforce

To learn the ins and outs of cybersecurity, a person needs a place to build skills. Eric Basu hopes to supply that place with the Haiku Cyber Range.

Monday, July 5

Education Innovation

SDBJ Insider

The innovative nonprofit Cristo Rey San Diego High School recently completed its first year supporting low-income students.

Food Subscription Co. Enters S.D. Market

Everytable To Open Three Grab-and-Go Stores by 2022

Everytable is bringing its affordable, made-from-scratch, nutritious food meal service to San Diego.

Co. Brings Transparency Into Cosmetics

Startup Receives Early Stage Funding From Angel Investors

The Good Face Project, a San Diego-based startup has secured early-stage funding and has inked deals with major customers in the beauty industry.

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Scripps Opens New San Marcos Facility

HEALTHCARE: Clinic Designed to Accommodate New Modes of Care

Scripps Health opened a new 14,156-square-foot clinic in San Marcos. Scripps Coastal Medical Center San Marcos opened its doors to accommodate the area’s growing community and was designed during the pandemic to adapt with the changing healthcare landscape.

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Cristiano Amon Assumes CEO Duties at Qualcomm Inc.

TECHNOLOGY: Will Oversee the Expansion of Fifth Generation (5G) Wireless Technology

Cristiano Amon took the job of president and chief executive officer of Qualcomm Inc. (Nasdaq: QCOM) on June 30. He will also take a seat on the board of directors.

Sunday, July 4

Space Micro Names New CEO, Eyes Sale This Year

TECHNOLOLGY: Employee-Owned Firm Looks Ahead to Liquidity Event

Space Micro Inc., the business in Carmel Mountain Ranch that makes radiation hardened electronics for spacecraft, announced that its board has promoted David Czajkowski to CEO.

Mid-City Apartment Project Creates an Open and Usable Area

CONSTRUCTION: $81M Development Aims to Bring Vitality Back to Neighborhood

An $81 million affordable apartment project is going up in San Diego’s Mid-City neighborhood with an aim of bringing a new sense of vitality to the neighborhood.

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Co. Specializes in E.V. Buses

STARTUP: Acquisition Boosts Endera’s Reach

Endera has created a steady flow of business manufacturing EV school buses, shuttle buses, and paratransit vehicles with plans to produce hundreds of thousands of vehicles in the near future.

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4 Downtown Towers Sold

REAL ESTATE: $420M Sale Signals Bright Future

The $420 million acquisition of four downtown office towers by Regent Properties of Los Angeles with plans to spend $60 million on renovations is seen as a sign that the city’s urban core will emerge from the pandemic as strong as ever.

An Olympic Feat for Solana Beach Firm

SPORT: American Wave Machines and Partners Help Teams Train in Japan

American Wave Machines Inc. has finished its most advanced wave-generating pool yet in a town southwest of Tokyo, just in time for the Summer Olympics.

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Holiday Bowl Finds New Home at Petco Park

TOURISM: Total Economic Impact Is Expected to Reach $1 Billion This Year

The San Diego County Credit Union (SDCCU) Holiday Bowl has found a new home.

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Friday, July 2

Special Report: Hospitality

Hotels Recovering, Gaining Business from Leisure and Drive Market

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Dermata Therapeutics Prices IPO

La Jolla Biotech Offers Over 1.8 Million Shares

Taos Air Restarts Nonstop Flights from San Diego

Taos Air offers private flights, with simplified check-in and reduced airport congestion, at the price of commercial airline tickets.

Casero Taqueria and Urban Plates Co-Founders Open Taco Co.

Pure Tacois located in Carlsbad Village and will open late July 2021.

San Marcos Cold Storage Building Sold

$42.2 million sale

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Fluo Labs Seeks $3.8 Million

Fluo Labs Inc. has launched a $3.8 million crowdfunding campaign.

Thursday, July 1

UCSD Students Win Pitch Competition

Winning Co. Uses App to Help LGBTQ Community

Startup San Diego, the largest entrepreneurship-focused nonprofit in the region, has selected a winner for its first annual university startup competition.