BLUETECH: Despite COVID, Sector Saw 163% Job Growth
Even amongst strong and diverse sectors like biotech, pharma and tourism, San Diego’s blue economy is a pillar of prosperity in the region, and one that is growing quickly.
On May 17, Friendly Hills Bank (FHB) announced it is bolstering its executive suite with a spate of new hires.
BIOTECH: Starting Clinical Trial for Parkinson’s Stem Cell Therapy
San Diego-based Aspen Neuroscience, Inc. announced a Series B financing round of $147.5 million on May 9 to further advance its treatment of Parkinson’s disease using autologous stem cell therapies.
TECH: Platforms Debut at 5G Summit
Qualcomm Technologies, Inc. unveiled its latest and most advanced developments in 5G and AI-enabled robotics on May 10 and the company’s annual 5G Summit.
PHARMA: Partnership to Take Genomics Approach to Discovery
Illumina, Inc. is expanding its reach into drug discovery and development. On May 5, the San Diego DNA sequencing giant announced a partnership with New York-based healthcare investment management firm Deerfield Management to apply a genetic-led approach to develop novel therapies for diseases with unmet medical needs.
SOFTWARE: Consulting Company Expanding Tech Platform
Business consulting firm Easie is breaking into the software space. On April 26, the company announced the launch of Easie Invoice AI - the first AI product offered from Easie’s Document AI software suite.
The inaugural Five.Ten.Thirty drew about 3,400 to Petco Park on April 28. The daylong event organized by Connect San Diego featured booths from around 100 startups across a variety of innovation industries. There were also over 180 venture capital groups and around 140 angel investors in attendance.
RETAIL: Growing County Footprint
The San Diego North Economic Development Council (SDNEDC) hosted a “Lunch and Learn” event at the Green Dragon Tavern & Museum in Carlsbad late last month (April 27) featuring speaker Stephen Maduli-Williams, manager of economic development policy for Amazon.
BIOTECH: Inks $670M Deal to Bolster Pipeline
Lineage Cell Therapeutics is rapidly expanding its cell therapy pipeline. In late March, the company announced a new investigational product candidate – an auditory neuronal cell transplant for the treatment of hearing loss, with an initial focus on the treatment of auditory neuropathy spectrum disorders.
MANUFACTURING: Innovation Improves Safety, Power of Li-ion Batteries
San Diego-based lithium battery innovator South 8 Technologies is charging up. On April 26, the company announced it had closed a $12 million Series A funding round it will use to accelerate the commercialization of its patented Liquefied Gas Electrolyte (LiGas) technology.
WEBSITES: Company Gains Spot in Top Sports Accelerator
In the wide, wide world of sports betting and fantasy sports, good data is key. That is the premise behind FTN Network, a multi-site platform featuring content and data for sports betting and fantasy sports aficionados.
SOFTWARE: Issues with Ads on Social Media a $700B Problem
When clicking ads on social media sites turns into a bad experience for shoppers, it can have a detrimental effect on the entire e-commerce industry.
SUSTAINIBILITY: SD Company Wins $1M XPRIZE for Carbon Removal
Climate change is a large problem requiring large solutions. To address it, X Prize Foundation founder Peter Diamandis and Tesla founder Elon Musk created the largest incentive prize in history – the $100 million XPRIZE Carbon Removal competition for companies working on carbon removal technologies at scale.
EVs: Deal Boosts Supply Chain
In what amounts to part acquisition, part homecoming, Aptera Motors announced April 20 it had purchased Andromeda Interfaces, Inc. in an all-equity deal. Terms of the agreement were not disclosed.
NONPROFITS: Winner of Pitch Competition is USD Student from Africa
Lucien Eloundou put the “global” in this year’s Global Student Entrepreneur Awards – a competition for students who own and operate a business while attending college put on by the San Diego chapter of Entrepreneurs Organization (EO).
PHARMA: Company Bounces Back from Epinephrine Recall
Late last month (March 31), San Diego-based Adamis Pharmaceuticals and partner US WorldMeds launched of ZIMHI – a 5ml naloxone injectable used in the emergency treatment of opioid overdose.
TRANSPORTATION: Autonomous Truck Firm Co-Founder Transitions to CEO
On March 3, when TuSimple co-founder Xiaodi Hou stepped into his new role as CEO, he said the move would allow him to become “the evangelist of the company.”
BIOTECH: Deal Boosts Growth, Revenue
In a deal showcasing Halozyme Therapeutics as an ongoing leader in drug delivery, the San Diego-based biotech announced earlier this month (April 13) it had entered into a definitive agreement to acquire New Jersey-based Antares Pharma for $5.60 a share.
Despite an escalating war in Ukraine, high inflation, soaring gas prices, an economy still emerging from a pandemic and an anticipated rate hike by the Federal Reserve Bank, there are still reasons to remain optimistic about the strength of the economy in 2022.
ENERGY: Cost-Effective Software Platform Streamlines Design
A project to support Puerto Rico's Cooperativa Hidroeléctrica de La Montaña is led by the Idaho National Laboratory’s (INL) Net-Zero Microgrid Program and San Diego-based XENDEE Corporation.
NONPROFITS: Cleantech San Diego Hosts Pitch Competition April 28
Fifteen years ago, as California legislators were hashing out the details of the state’s landmark climate legislation AB32, a group of investors, educators and entrepreneurs were coincidentally hashing out a project of their own – the founding of Cleantech San Diego.
TECHNOLOGY: TradeSun Raises $8M Series A for AI Platform
TradeSun CEO Nigel Hook has a passion for fighting financial crime, even before it happens. In 2018, Hook founded TradeSun, an offshoot of San Diego’s advanced analytics firm DataSkill, with a goal of creating an AI-driven platform that can sort through the complex data involved in global trade and assure banks and investment firms that shipments are compliant with international rules.
LOGISTICS: Flock Freight Logs 300% Growth
Reducing carbon emissions from an industry that literally runs on diesel fuel is a difficult undertaking, but one that Encinitas-based Flock Freight has had success with.
MANUFACTURING: Pet Food Firm Closes $150M Funding Round
San Diego’s The Honest Kitchen is adding more of the ingredients a company needs to continue to grow in the pet food industry.
TELEHEALTH: Latest Funding Round Led by Cobalt Ventures
San Diego telehealth company ArtistaMD is expanding its eConsult (electronic consulting) platform, thanks to a funding round by Cobalt Ventures, a subsidiary of Blue Cross and Blue Shield of Kansas City.
San Diego-based Halozyme Therapeutics announced Wednesday plans to acquire New Jersey-based Antares Pharma for $5.60 a share. The all-cash deal is valued at around $960 million.
ESG: ‘The Power of Transparency’
In the early 2000s, ISOS Group CEO Nancy Mancilla was working in the Netherlands at Triodos Bank – a pioneer in social investment banking taking ESG (environmental, social and governance) factors into consideration for investment decisions.
VENTURE: Event Celebrates Innovation Growth in San Diego
When it comes to economic growth and attracting investment dollars in recent years, the San Diego region has cause to celebrate. That is the inspiration behind Five.Ten.Thirty – a Connect San Diego event at Petco Park that will be held on April 28.
HEALTHCARE: Calculating Heart Attack Risk
Understanding your genetic risk of coronary artery disease (CAD) artery disease will more likely push you to seek out preventative treatment. That is the conclusion of a study by a Scripps Research team that developed a smartphone app that can calculate a users’ genetic risk for CAD.
INTERNET: Short Clip Format Also Has Social Media Component
To address what he saw as inefficiencies in video conferencing, Vinny Lingham co-founded Waitroom – a video conferencing and live streaming platform designed to facilitate sequential, one-on-one video conversations that are broadcast as a live show, so a larger audience of viewers can watch.
MANUFACTURING: Company Sees Steady Growth with Large Clients
Lithium battery manufacturer Flux Power is continuing to innovate in the material handling equipment space.
ENVIRONMENTAL: B Local San Diego Organization Promotes Environmental, Social and Governance Excellence
“Make business a force for good.” That is the underlying message of B Lab, a worldwide nonprofit organization that offers a transparent, third-party system of evaluating a company’s impact on a number of key environmental, sustainability and social factors.
TECH: Expanding ID Verification Business
Mitek Systems is further expanding its identification verification capabilities. Late last month, (March 23), San Diego-based Mitek announced it had acquired London-based know your customer (KYC) company HooYu in an all-cash deal for £98 million, or about $128.3 million.
VENTURE: Group Highlights National Reach, Unique Model
Tech Coast Angels–San Diego is changing its name to NuFund Venture Group. The rebranding, announced last week, is meant to better represent the group’s “national reach and fund-first model,” said Ashok Kamal, NuFund’s executive director and co-fund manager.
BIOTECH: Highlights Include Strong IPO, Launch of G4 Sequencer
Six years ago, investor Andrew Spaventa and former Illumina CSO David Barker decided to invest in Eli Glezer’s idea to start a company that would develop new technologies that would have an impact in biological research and medicine.
MARKETING: Tech-Enabled Services Company Builds on Strong Growth
Tech-enabled marketing service company Power Digital is poised for another growth spurt. On March 15, the company announced a strategic capital partnership with Court Square Capital Partners, a private equity firm with $7.5 billion in assets under management.
TECH: Sēkr Raises $2.25M in Seed Round
An unmet need for camping spots catering to people living the van life led Breanne Acio to found Sēkr – a mobile app that now features the largest database of free campsites.
BIOTECH: CE Mark for G7 Device OK’d
Dexcom and its tech driven continuous glucose monitoring systems (CGM) continue to impress around the world. On March 14, the San Diego-based company’s next-generation CGM, the G7, was granted a CE mark from the European Union.
TECHNOLOGY: Funding to Come from Venture Capital, Grants
Qualcomm Technologies, Inc. is upping its investment into the metaverse. On March 21, the San Diego-based company announced the creation of the Snapdragon Metaverse Fund – a $100 million investment.
SOFTWARE: Company Looks to Service Regions’ Manufacturers
On March 2, Minneapolis-based Aleran Software announced it opened its first office location outside of Minnesota in San Diego, the “epicenter of the new manufacturing and B2B tech growth engine,” according to Aleran CEO Alex Sayyah.
HEALTHTECH: Company Developing Device to Monitor Addiction Meds
On March 23, SDAC IV, a University of San Diego Knauss School of Business program, awarded $300,000 to San Diego-based CARI Health – a healthtech company developing a device to monitor medications used in treating opioid addiction.
BIOTECH: Company Touts High Performance, Low Cost
In a virtual presentation held March 14, Element Biosciences announced the commercial launch of its AVITI benchtop sequencer.
BIOTECH: Company Posts 107% Sales Growth in Q4
On March 4, Evofem Biosciences held its year-end earnings call, reporting improved sales of its hormone-free birth control for women Phexxi, and also announced it completed enrollment for the EVOGUARD Phase 3 study evaluating EVO100 (the clinical name for Phexxi) for two potential new indications -- prevention of chlamydia infection and the prevention of urogenital gonorrhea infection in women.
Tech Coast Angels–San Diego is changing its name to NuFund Venture Group.
BIOSCIENCE: Wisconsin-based Company Builds on 2018 Acquisition
Exact Sciences is growing its presence in San Diego. In late February, the company cut the ribbon on a new R&D and product development facility in Torrey Pines.
MOBILE TECH: Cloud, AI, 5G Adoption Drives Increased Addressable Market
The overall message coming out of Qualcomm Technologies Investor Day was one of optimism about growth opportunities for the company, despite ongoing geopolitical turmoil that was also on the minds of many stockholders who attended the event on March 9.
MOBILE: Partnering with ESL Gaming to Host Esports Tournaments Around World
Qualcomm Technologies is jumping, driving, shooting and brawling its way into the fast-growing world of esports.
NONPROFITS: Project Uses Tech to Train Immigrant Community in New Careers
SHIFA360, a project of Somali Family Service of San Diego (SFS), is one of five finalists in the XPRIZE Rapid Reskilling competition – a three-year competition to reimagine the future of work and transform worker training and education.
BIOTECH: Nasal Spray for Seizure Clusters Rapidly Replacing Existing Therapy
San Diego-based Neurelis’ first in-person meeting since the outbreak of the pandemic served as a de facto celebration of the launch of the company’s nasal spray Valtoco for the treatment of patients with seizure clusters, which was approved by FDA in 2020.
SOLAR: mPower Raises $10M in Series B
mPower Technology, a solar company operated out of Carlsbad, announced in February it had raised $10 million in Series B financing to expand the company’s R&D and manufacturing capabilities.