Stories for June 2018

Thursday, June 28

Biotech Acquisitions Have Their Own Trials

Mergers: Pharma Must Consider Many Factors in Buy

Earlier this month, an executive from New Jersey-based Celgene blamed Receptos, a San Diego firm that it bought, for a major regulatory setback.

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Co.’s Lights, Fans Have Growing Impact in International Markets

PRODUCTION: Home Fan Launch Will Provide Another Revenue Stream

If you ask Solatube International Inc., president, Bob Westfall Jr., to describe what the daylight and ventilation systems manufacturing company is about in one sentence, he’d simply say: “fresh air and natural light — that is our business.”

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Some Universities Taking Active Role in Guiding Students to Success

WORKFORCE: New Software, Tutoring Help Keep Students on Track

Although performance-based funding hasn’t come to California’s public universities, California State University San Marcos has begun taking steps to demonstrate how it is helping students succeed.

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Improving Outcomes

New State Plan Changes Formula For Determining Level of Funding for Community Colleges

No longer content to tie support for community colleges primarily to enrollment levels, state officials have approved a new funding formula that will require the schools to demonstrate how well they are performing.

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Royale Energy to Buy Oil Fields

Royale Energy Inc., an El Cajon-based petroleum producer and marketer, said it is in discussions to acquire assets in Texas’ Permian Basin and the greater Los Angeles area.

Green Flash Brewing Co. Opens New Location in Nebraska

San Diego-based Green Flash Brewing Co. has opened its first full-scale restaurant in Lincoln, Nebraska, next to the University of Nebraska campus.

Moody’s Eyes Sempra for Downgrade

Moody’s Investors Service Inc. placed the credit rating of Sempra Energy (NYSE: SRE) on review for a downgrade, citing several concerns about the company's business.

Cabrillo Credit Union Names Anne McClure CEO

McClure takes over for Dean Odle, whom the credit union hired in April of 2017 following the retirement of Robin Lentz, who led the institution for 37 years.

Gossamer Licenses Compounds From Aerpio, Deal Worth up to $420M

San Diego-based Gossamer Bio entered into an agreement to develop and commercialize compounds from Cincinnati’s Aerpio Pharmaceuticals, in a deal worth as much as $420 million.

Salk Institute Associate Professor Wins Award, $250,000 Prize

An associate professor with Salk Institute was named one of three winners of the Blavatnik National Awards for Young Scientists, which comes with $250,000 for her pioneering bacteria research.

Wednesday, June 27

Cibus, Agtech Startup, Raises $70M

In addition to R&D in San Diego, Cibus also operates subsidiaries in Europe and North America.

North County Has Plenty of Selling Points

Land is a big reason that North County has become such a big draw for commercial real estate development, but that’s only part of the picture, according to a report by the commercial real estate firm of Cushman & Wakefield.

With a Nod to the Past, Developer Brings Row Houses to Bankers Hill

Bankers Hill on the edge of downtown San Diego is drawing renewed interest from developers, who see its proximity to Balboa Park and its reputation as one of the city’s most walkable neighborhoods as attributes few other locations can match.

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RF Is Flying Under the Radar and Soaring at Same Time

PRODUCTION: New CEO Leverages Distribution Channels, Diverse Clients

Cables, connectors and jumpers. That’s the space where specialty manufacturer RF Industries Ltd. is finding its spark.

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Kura Oncology Hires COO

John Farnam of Receptos has been named as COO of Kura Oncology. He will start in the newly created position July 1.

SD 500 Update: Some Surprising Leadership Changes

Joel Davis is departing KGTV/ABC 10 for a similar position in Raleigh, N.C., which might prompt a few raised eyebrows. Really, Raleigh?

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Qualcomm Names 2 New Directors to Board

Additions bring total number of directors to 12.

Little Italy Property Sold For $12.1M

Property will be redeveloped as apartments or condominiums

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Tuesday, June 26

Brand Support Center Is in Sync With Co. Culture

PROPERTY: WD-40 Emphasizes the Tribe and Shows Its Creative Vibe

Looking for that can of WD-40? Try under the kitchen sink.

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SDBJ INSIDER: Fighting Irish Have JMI Sports On Their Team

The Notre Dame-Navy football game on Oct. 27 at SDCCU Stadium will have an obvious built-in fan base given the military presence here. But there are some new Notre Dame stakeholders in the market as well.

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Corporate Stars Take On a Startup Challenge

TECH: Ex-Qualcomm Execs Go To Work Sans Corporate Perks

Money is often an obstacle to entrepreneurial success, but even well-funded startups sometimes struggle to build a company from scratch.

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S.D. Airport to Open New International Facility

Paid for by the San Diego County Airport Authority, the estimated total cost of the project is $229.4 million and it was a joint venture by contractors Turner Construction Company and PCL Construction Services, Inc.

Kathlyn Mead Out as President, CEO of The San Diego Foundation

The foundation did not cite a reason for Mead’s departure in a terse press release.

Operation Homefront Taps San Diegan to Run Operations in 5 States

New senior director has 17 years of experience working at nonprofit organizations, is a member of a multigenerational military family.

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Calibr, AbbVie Announce Collaboration

Calibr, a nonprofit affiliated with Scripps Research, announced a collaboration with pharmaceutical AbbVie built on developing therapies, primarily for cancer, including solid tumors.

Apartment Building Sold For $3.3M

Building has 18 apartments.

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Keynote Address Will Bring Fresh Perspective to Startup Week

Arlan Hamilton, founder of venture firm Backstage Capital, will talk in a fireside-chat style event with San Diego entrepreneur Liane Thompson the evening of June 26 at Civic Center Plaza.

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Monday, June 25

Convention Center Is Ready If It Gets Go From Voters

PROPERTY: Rare Coalition Plots Steps for Expansion

Preliminary construction on a $685 million project to expand the San Diego Convention Center could start as soon as next summer — pending voter approval of a November ballot measure to pay for it.

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Identifying Opportunity

SOFTWARE: Mitek’s Tools Take Verification to Next Level

On the internet, nobody knows you’re a dog — or so goes the early 1990s adage about online anonymity.

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In a First, FDA Approves Cannabis-Based Drug

The U.S. Food and Drug Administration has approved a plant-derived cannabis medicine, benefitting Carlsbad’s Greenwich Biosciences, the U.S. subsidiary of United Kingdom-based GW Pharmaceuticals.

Digital Marketing Agency IMI Names New CEO, New CFO

IMI cofounder Brandon Fishman leaves CEO role.

'Smart' Home Alarm System Raises More Than $90,000 Via Kickstarter

System uses a central hub device and "peel-and-stick" sensors to monitor heat and movement.

Sherman Heights Apartments Sold For Nearly $2.9M

Complex covers six buildings

Sempra to Talk About Its Future June 28

Sempra Energy plans to talk about its future later this week, and in doing so will offer some sort of response to activist investors’ plans to remake the company.

Stone Creek Apartments Sold For $33M

Complex construction finished in April

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Chula Vista Retail Center Sold For $58.5M

Walmart and Cosco are anchor tenants

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Sunday, June 24

Some See Tandem’s Stock Price Continuing on Its Climb

BIOTECH: It’s Still Low For Medtech Peers; Co. Inks International Deals

This comeback story appears to have legs.

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Business Calendar for Week of June 25, 2018

Business events in San Diego County

Trovagene CEO Resigns

William Welch has resigned as CEO and director of San Diego biotech Trovagene, citing personal reasons. The resignation is effective immediately.

Truepic, 'World's First Photo Notary,' Raises $8M Series A Financing

Company's technology allows businesses and consumers to verify image authenticity.

FDA Approval for Tandem Diabetes Care's Automated Insulin Tech

Tandem Diabetes Care won U.S. Food and Drug Administration approval for an automated insulin technology designed to reduce the frequency and duration of low blood sugar events.

Big Green IT Opens in San Diego

Big Green IT, a Northern California company providing cloud computing solutions, announced in mid-June that it has opened an office in San Diego.

Military Radio Work Means Up to $42M for Viasat

Viasat Inc. said June 21 that it received a U.S. Air Force contract to sustain MIDS-LVT radios.

U.K. Acquisition Gives Viasat Market Intelligence

DEFENSE: Deal Part Of Viasat’s Growing Presence in Europe

In a bid to increase its international defense contracting business, Carlsbad’s Viasat Inc. bought Horsebridge Defence and Security of Cheltenham, England, closing the acquisition in early June. Terms of the deal were not disclosed.

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Harrah’s ‘All-in 4 Change’ Delivers For 15 Deserving Causes

Harrah’s Resort Southern California announced that it hosted its fourth annual “All-in 4 Change” awards luncheon, awarding $150,000 in grants to 15 of Southern California’s most deserving nonprofit organizations.

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Bill Threatens Progress Where Rubber Meets Road

Since vulcanized tires were invented more than a century ago, the common complaint is what happens to a tire once it has served its useful life. Billions of old tires are buried in landfills throughout the world and will languish there for thousands of years because they do not biodegrade.

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Inside and Outside, Ranch Home Is Best of Both Worlds

At the entrance to a lovely family home on Lago Lindo in Rancho Santa Fe is a low slung, white stucco wall framed with mature bougainvillea and towering eucalyptus trees.

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Thursday, June 21

Kratos Autonomous Vehicle Earns Its Stripes

Kratos Defense & Security Solutions Inc. announced June 21 that its unmanned vehicle technology received government approval to drive on the public highways.

Three Board Members Named to La Jolla Institute for Allergy and Immunology

La Jolla Institute for Allergy and Immunology has elected three new board members:

Commission Scuttles SDG&E Natural Gas Pipeline Plan

The California Public Utilities Commission on June 21 turned down a proposal from San Diego Gas & Electric Co. to build a $639 million natural gas pipeline from Rainbow Station to Miramar, saying there is no need.

Home Bay Technologies Expands to Arizona, Virginia

Real estate platform facilitates residential transactions.

Heron Therapeutics’ Stock Surges on Clinical Data

A Heron Therapeutics postoperative pain anesthetic hit clinical trial targets in two additional areas, sending the company’s stock soaring.

CPUC Gives OK for SDG&E’s 5 New Energy Storage Facilities

ENERGY: Utility Enlists Five Businesses to Build Lithium-Ion Battery Sites

San Diego Gas & Electric Co. has enlisted the help of five businesses to develop more energy storage within its service territory.

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Early-Stage Booster Comes to Town To ‘Create, Incubate and Accelerate’

A San Francisco-based seed-stage investment firm and a venture capital fund — separate businesses that work closely together — are becoming increasingly active in the Southern California startup scene.

Wednesday, June 20

Activist Investors Seeking Major Changes at Sempra

ENERGY: They See Co. As Unfocused Conglomerate Of Disparate Businesses

Sempra Energy has the potential to grow to at least $139 per share, activist investors said recently as they introduced a proposal to remake the company’s board and streamline its business model by jettisoning certain assets.

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Crinetics Pharmaceuticals Hires Chief Medical Officer

San Diego-based Crinetics Pharmaceuticals, focused on endocrine-related cancers and endocrine disorders, appointed Alan Krasner as chief medical officer.

Metawave Expects to Find Needed Workforce in SoCal

TECH: Radar Allows for Autonomous Cars to Identify Objects, Beings

A company combining a Silicon Valley pedigree with a Southern California wireless specialty has opened an office in Carlsbad.

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Co. Finds Food Biz, Expansion, and Real Estate Opportunities

FOOD: Tax Credits Help Ajinomoto Set Up Shop in Otay

When Ajinomoto Foods North America Inc., stumbled upon the chance opportunity to set up shop in Otay Mesa, after Tyson Foods decided to sell its San Diego-based Circle Foods plant, those in charge knew they had to jump on the opportunity.

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Bankers Hill Apartment Complex Sold For $14.5M

Apartments will be converted to condominiums

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Sharp Mary Birch Awarded $2.9M for 'Umbilical Cord Milking' Study

Sharp Mary Birch Hospital for Women & Newborns was awarded a $2.9 million grant to lead a multi-hospital, international study on a technique to increase the flow of blood from the umbilical cord into the infant’s circulatory system.

Teradata Sues SAP

Teradata filed a lawsuit in U.S. District Court against German software maker SAP, alleging that SAP took trade secrets from Teradata, infringed its copyrights and violated antitrust laws.

Cubic Transportation Gets $276M Contract

Cubic Corp. said on June 20 that its transportation business received a $276 million contract from Queensland, Australia.

Tuesday, June 19

Open Office Is Working for Brokerage … and Its Customers

When brokers at Colliers International in North County talk to clients about opening up their office space, they have a new place to take them for inspiration — the brokers’ own office.

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SD 500 UPDATE: Awards Season Puts Spotlight on CEOs

Several CEOs pulled double duty recently in attending the SDBJ’s Most Admired CEO event at the Hyatt Regency La Jolla at Aventine and the EY Entrepreneur of the Year festivities at the Fairmont Grand Del Mar.

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Rising Interest Rates Have Yet to Rattle Market

REAL ESTATE: Demand Insulates Some S.D. Sectors; Small Projects More at Risk

Rising interest rates have yet to have much of an effect on commercial real estate transactions in San Diego County.

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COMMENTARY: Housing Prices Could Destroy Thriving Economy

The San Diego region is not keeping up with our needed housing supply, which is starting to erode our thriving innovation economy.

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New Restaurant Has The Right Hooks

DINING: Gritty Past, Fun, Social Atmosphere Should Fit in East Village

Archie Moore, Ken Norton and “Cinderella Man” Jimmy Braddock fought there.

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PODS Leases Building in Pacific Vista Commerce Center

PODS has leased one of the three buildings that make up the commerce center

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Petco Names HP Executive as New CEO

Petco Animal Supplies Inc. is turning to the technology world for new leadership by naming Ron Coughlin as its chief executive.

Vertex Pharmaceuticals Expands San Diego Footprint

Boston-based Vertex Pharmaceuticals has opened a 170,000-square-foot research facility in San Diego, more than doubling the company’s footprint locally.

Monday, June 18

Connect Says Springboard Accelerator Program Alumni Raised $291M in 2017

Fewer, larger rounds were raised in 2017 than in years past by Springboard alumni.

SDBJ INSIDER: Startup Week Is Taking Big Strides

San Diego Startup Week arrives June 25 for its 6th edition. In entrepreneurial years the event may not yet equate to being a full-fledged adult, but perhaps it is a teen with keys to a car or is heading off to college.

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Clients Get Leadership, Life’s Stories and Insight

TRAINING: Library of Lessons Comes in SaaS Subscription

Wisdom Capture was launched in 2016 by an unlikely pair.

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Robotic Surgery Rides Tech Momentum Wave

MEDICINE: High Volume a Must; Adoption Becoming Norm

In San Diego hospitals, robots are on the rise, judging by splashy marketing and an increase in robotic surgery cases, per data obtained by the San Diego Business Journal.

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Ionis Pharmaceuticals Hires New Chief Business Officer

Damien McDevitt has joined Carlsbad’s Ionis Pharmaceuticals as chief business officer.

Cost Cutting Continues at Qualcomm With Additional Layoffs Slated for Summertime

Chipmaker to reduce headcount further as part of broad cost-cutting effort announced January.

Soccer Phenomenon Endorses SleepScore

What does SleepScore Labs have in common with Portugal and Real Madrid? They all have Cristiano Ronaldo working for them.

Ceramic Pro Teams Up with Carfax to Help Maximize Car Resale Values

San Diego-based Ceramic Pro will begin reporting product installation details to Carfax in order to help maximize the resale value of their customers’ vehicles.

Sunday, June 17

Rosé Continues to Be a Rising Star For Local Wineries

WINERIES: Millennial Palates and Good Prices Help Push Wine’s Sales

In the last several years, rosé has risen in popularity among wine drinkers nationally. Despite being a newer and smaller market compared with its California-based counterparts like Sonoma County, Napa Valley and the Central Coast, San Diego is capitalizing on the trend.

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Alaska Airlines Announces Nonstop Service Between S.D. and Spokane

Embraer 175 jets will fly the route.

Canned Wine Stacks Up Against the Competition

Local Wineries See Advantages, But For Now, Fiscal, Size Realities Dilute Their Enthusiasm

Nico Roulston, owner of the Candied Apple Café in Julian known for its breakfast options and barbecue dishes, says he doesn’t serve his customers anything but wine in a can these days.

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Co. Creates, Facilitates CRO Marketplace

PHARMA: Doubles Revenue to $50M reported $50.27 million in 2017 revenue, a whopping increase from $23.07 million in 2016 and $6 million in 2015.

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UC San Diego Launches Center to Spark Anti-Parasitic Drugs

A new UC San Diego center is targeting an unmet need: parasitic infections hurting poor and underserved communities.

Business Calendar for Week of June 18, 2018

Business events planned in the county for the week of June 18, 2018, and beyond.

EDF Renewables to Help Develop Iowa Wind Project

The project is expected to be completed by early 2020.

Additional Code Ninjas Franchises to Open in S.D. By Year's End

Program teaches children age 7 to age 14 to code by showing them how to build video games.

Senomyx Shareholder Calls for Sale of Co., Chair Resignation

A shareholder of San Diego-based biotech Senomyx is pushing for the company’s chairman to resign, an immediate company sale and a new board seat.

Friday, June 15

Harbor Associates Acquired Office Buildings in Del Mar and Rancho Bernardo

Renovations planned for both buildings

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Alzheimer’s Association Awards $175,000 Fellowship to UC San Diego Researcher

The San Diego/Imperial Chapter of the Alzheimer’s Association awarded a three-year, $175,000 fellowship to a UC San Diego researcher on a quest to determine the earliest indications of Alzheimer’s disease.

Kratos Pulls in $2.6M Satellite Communications Deal

Kratos RT Logic received a $2.6 million U.S. government contract for satellite communications work.

Most Admired CEO 2018 - Publicly-Held Company: Nathan Rogge, President and CEO, Bank of Southern California

Nathan Rogge likes to immerse himself in all aspects of the bank he runs as CEO and president – whether it’s helping a customer start an account, going out on a business development call or trouble-shooting problems.

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Most Admired CEO 2018 - Large Privately-Held Company: Doug Winter, Co-Founder and CEO, Seismic

Doug Winter co-founded a software startup, Seismic, in San Diego in 2010, and he hasn’t looked back since. Over the past eight years, the company has grown from its original five employees to 450 employees, and it’s still growing. By the end of this year, Winter expects annual revenue to top $100 million for the first time.

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Most Admired CEO 2018 - Medium Privately-Held Company: Daniel Sullivan, President and Founder, Sullivan Solar Power

With its position as one of San Diego’s fastest growing companies and a reputation for being one of the best places in town to work, future prospects for Sullivan Solar Power appear to be sky-high.

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Most Admired CEO 2018 - Small Privately-Held Company: Kyle Slager, Founder and CEO, Raken

Carlsbad-based mobile field management company Raken has nearly tripled its presence around the world in the past year. A leading reason for the impressive growth is co-founder and CEO Kyle Slager’s attention to feedback.

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Most Admired CEO 2018 - Nonprofit Business: Joseph Panetta, President, CEO and Board Member, Biocom

Like the life-changing products developed by San Diego’s robust life science companies, the trade group that fights for them has been developed and polished over time thanks, in part, to its CEO Joseph Panetta.

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Most Admired CEO 2018 - Charitable Organization: Chris Sichel, President and CEO, Make-A-Wish Foundation of San Diego

Since taking the helm of the Make-A-Wish Foundation of San Diego 13 years ago, Chris Sichel has successfully navigated the ups and downs of one of the most emotionally charged environments a CEO can be tasked with leading.

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Most Admired CEO 2018 - Family-Owned Business: Jeff Ambrose, President Woodstock’s Pizza

There is nothing groundbreaking about a pizza restaurant being supported largely by college students, but in the case of Woodstock’s Pizza the script has been flipped.

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Most Admired CEO 2018 - Overall Winner: Alessandra Lezama, CEO, AbacusNext

When Alessandra Lezama took over as CEO of AbacusNext in 2013, the family-owned company had been around for three decades, and it offered a single product – case management and billing software for legal firms.

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Most Admired CEO 2018 - Community Service Award: Foundation Executive Has Grown Along With Organization

Longtime Rancho Santa Fe Foundation CEO Christy Wilson knows more than a thing or two about the community service sector, having helped raise $73-plus million in grants over the past two decades. But the homegrown executive is humble enough to give credit where credit is due.

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Most Admired CEO 2018 - Lifetime Achievement Award: Caring Spirit Provides Path for Career of Business Success

Nursing and executive leadership don’t generally go together unless you are the San Diego Business Journal’s 2018 Most Admired CEO Lifetime Achievement honoree.

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Business of Personal Data Has Major Implications

NBC 7 reported that the San Diego County Sheriff’s Department had stored photos of 8 million license plates, many of them multiple photos of the same vehicle in different locations, enabling law enforcement to create a sort of digital road-map of one’s whereabouts. All this data is routinely shared with more than 500 local, state and federal agencies.

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San Diego Tops NYC, Unfortunately

San Diego has more barriers to apartment construction than New York City. That was among the findings of a recent pilot study by the National Apartment Association.

Serving Seniors’ Gala Makes 200,000 More Meals Possible

Serving Seniors announced that it raised $477,000 at its 5th annual Experience of a Lifetime Gala held recently at the Del Mar Country Club. With more than 350 people in attendance at the sold-out event, the funds raised will go toward nearly 200,000 meals for those in need.

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CureMatch Takes Home MetroConnect Prize

HEALTH: Co. Heads to Tijuana to Help at Cancer Center

CureMatch, a digital precision medicine startup that uses artificial intelligence to guide oncologists as they select treatments for cancer patients, said a $35,000 award will help it provide Mexican children with services free of charge.

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Thursday, June 14

SD 500 UPDATE: Bartell Elected Chair Of San Diego TMD

Two of San Diego’s longtime hoteliers have been elected to lead the San Diego Tourism Marketing District.

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China’s CROs Make Connection in S.D.

PHARMA: They’re Part of Growing Biotech Relationship

In San Diego, the last decade gave rise to biotechs farming out work to contract research organizations, or CROs. It’s an industry increasingly colored by China.

Conflicting Reports Leave Fate of Proposed Qualcomm Acquisition of NXP Unclear

Initial report sent price of NXP and Qualcomm stock up in after-hours trading June 14.

Benefunder Adds 2 New Execs to Leadership Team

Both new hires are Silicon Valley veterans, the company said.

Viasat Buys U.K. Firm

Viasat Inc. said June 13 that it acquired Horsebridge Defence and Security of Cheltenham, U.K.

Kearny Mesa Office Campus Sold For $100.3M

StoneCrest campus has four buildings

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San Diego Grantmakers Names New Director of Impact Investments

New hire Robert Foster was most recently COO at a local fintech startup.

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Growing Workforce Needs More Space, Office Solutions

Near record low unemployment levels in San Diego County are hitting the commercial real estate market by driving down vacancy rates and contributing to rising rents, primarily for office space.

Metacrine Raises $65 Million in Series C Round

San Diego biotech Metacrine, which is working on drugs for liver, metabolic and gastrointestinal diseases, last week closed a $65 million Series C round.

Wednesday, June 13

COMMENTARY: Healthy Equation Brings Benefits to Part-Timers

When I returned home from military service, I found myself in a hospital chair being treated for a debilitating illness I contracted on duty, watching medicine slowly drip into my IV bag. From that hospital chair, I wrote the business plan for Dickinson Farm.

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Endeavor Hires Producers to Open Right Doors For New Bank

BANKING: Despite Good Economy, De Novo Banks Face Challenges

The ranks of the post-recession crop of aspiring de novo banks are thinning, but the headcount at San Diego’s Endeavor Bank is expanding roughly two years ahead of schedule to accommodate bankers looking to join the new venture.

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Active M&A Scene Finds Good Target in Local RIA

ACQUISITION: L.A. Firm Gets Greater SoCal Presence With Donnelly Purchase

A $3.6 billion registered investment advisor (RIA) in Los Angeles run by two native San Diegans has acquired Donnelly Wealth Advisors (DWA), a San Diego-based firm with $405 million in assets under management.

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Cubic Rings Closing Bell on Analyst Day

Executives with Cubic Corp. rang the bell and banged the gavel at the close of trading June 13 at the New York Stock Exchange.

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Trovagene Closes $18M Public Offering

San Diego biotech Trovagene closed an $18 million public offering on June 12.

Kratos Drone Deal Could Exceed $10M

Kratos Defense & Security Solutions Inc. said June 13 that its Unmanned Systems Division received an engineering services contract that could be worth as much as $10.2 million over five years.

Apartment Building Sold For $6.2M

Rolando building has 28 apartments

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Industrial Buildings Showing Their Age

PROPERTY: Aged Inventory Comes Up Short for Today’s Needs

Old is not good for companies looking for warehouse and industrial space, but that’s what they’ll find in most of San Diego County.

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Tuesday, June 12

COMMENTARY: Breaking Down the Cycle of Ethical Misconduct

Here we go again. Another corporate executive is forced to resign due to ethical lapses.

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Higher Density Model Part of Affordable Housing Solution

An outdated Mission Gorge strip shopping center has been replaced by an 89-unit affordable housing complex.

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Cubic Completes Sale of Global Defense Services

DEFENSE: Pentagon Policies Made Services Sector More Difficult to Operate In

Facing ever-smaller margins in its U.S. military services business, Cubic Corp. has exited the space.

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Airline Eyes Fall Start, Pending Environmental Approval

San Diego County officials are now evaluating an application from Carlsbad’s California Pacific Airlines to operate commercial service out of McClellan-Palomar Airport.

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Corporate Directors Forum Names 7 'Directors of the Year'

Organization plans to celebrate the honorees Sept. 20 at the Hyatt Regency in La Jolla.

Medical Building Sold For $20M

Center has four stories of space

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Salk Researcher Resigns After Investigation

A well-known researcher at Salk Institute for Biological Studies resigned on June 11 after an investigation into his conduct.

SDBJ INSIDER - Keeping $100M Secret: More Than Priceless

Major philanthropy gifts can be the best or worst kept secrets in town.

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Monday, June 11

More Victories Needed to Establish San Diego’s Sports Cred

TOURISM: Beach Games Give Something to Build On

Earlier this year, the Associated Press crowned San Diego the worst sports city in the country. But local groups like the San Diego Tourism Authority and the San Diego Sports Commission say the city shouldn’t be counted out just yet.

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Kratos Wraps Up Sale of Security Division

Kratos Defense & Security Solutions Inc. said on June 11 that it concluded the sale of its Public Safety & Security Division to Securitas Electronic Security Inc., part of Sweden-based Securitas AB.

Vical Pulls Plug on Herpes Vaccine Program

San Diego-based Vical is terminating its herpes vaccine candidate following not-so-great mid-stage clinical trial results.

Luna Fine Tunes Food, Décor as It Expands

DINING: Eatery Plans to Add 10 to 15 Locations in a Year

For Maria Pourteymour, co-founder and chief cuisine officer of San Diego-based Luna Grill Restaurants LLC, the love for good, simple yet high-quality food has been a tradition passed down through her family, from generation to generation.

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Carlsbad Industrial Building Sold For $6.5M

Building is 38,900 square feet

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Carlsbad Hotel Sold For $19.5M

Hotel was built in 2006

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Investor Group Says Sempra Must Change

An investor group called on Sempra Energy to seat six of its candidates on its board of directors and conduct a thorough review of the company with an eye toward remaking it.

Athena, Ad Astra Partner to Support Female Entrepreneurs and Their Businesses

These two organizations will develop and deliver joint programming and mentoring.

North S.D. Business Chamber Elects Chair, New Board Members

Denise Visconti has been named the new chair of the board of the North San Diego Business Chamber.

Sunday, June 10

Home Start Names CFO

The San Diego-based child abuse prevention and treatment agency has named Rick Roark as its chief financial officer.

Vista Industrial Building Sold For $6.2M

Building was renovated in 2008

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Fisher Phillips Chooses San Diegan as Chief Diversity Officer

The Fisher Phillips law firm has named Regina A. Petty chief diversity officer. Petty is a partner in the firm’s San Diego office.

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Luna Grill and The Hot Spot Coming to Del Sur Town Center

Luna Grill and The Hot Spot are headed to the Del Sur Town Center, the dining and retail center located in Black Mountain Ranch.

Mitchell International Completes Acquisition of Seattle-Based Co.

Mitchell International completes acquisition.

5 San Diego Leaders Recognized by EY as 'Entrepreneur of the Year'

Regional award winners are eligible for consideration for EY's Entrepreneur Of The Year National program.

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Boosters Ready to Put Columbia on the Map

PROPERTY: Builders Already Busy in the Neighborhood

Ask someone where San Diego’s Gaslamp Quarter is and what’s in it, they’ll likely know.

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Business Calendar for Week of June 11, 2018

Some of the business events scheduled in the county for the week of June 11, 2018, and beyond.

Grants Aim to Be Game Changers for Chula Vista’s Workforce

Chula Vista Charitable Foundation, an affiliate of The San Diego Foundation, announced that. at the 9th Annual CVCF Grants Celebration, $55,000 in grants are going to benefit Chula Vista residents of all ages and backgrounds for job training and workforce development resources. The grants were announced at the Reminiscence Therapy facility in the Glenner Town Square.

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Coastal Home’s Delicious Details Offer a Feast for the Senses

It’s apparent this home in Solana Beach is not your standard issue Spanish Colonial from the moment you pull into the driveway.

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Sanford Makes $100M Gift to National University System

GIVING: Record Gift to Support, Expand Innovative Educational Program

Philanthropist, banker and La Jolla resident T. Denny Sanford made a landmark, $100 million gift to the San Diego-based National University System to expand Sanford Harmony, a social emotional learning program.

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ResMed Acquisition to Deliver on Home Care

HEALTH: Brings Opportunities in Billing, Records and Analytics

ResMed’s acquisition of Healthcarefirst looks to tap into a growing trend: digitally connected devices for those who prefer medical care at home.

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Thursday, June 7

Soundcast Names Tom Dixon Vice President

Soundcast LLC has named Tom Dixon as vice president of sales and marketing.

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Law School Moving to 701 B Street

Thomas Jefferson School of Law announced it is moving from its location on Island Avenue to 701 B Street.

Artemis Makes Patients Priority in Clinical Trials

MEDICINE: Diversity Is a Must, Both in Patients and Studies

Artemis Institute for Clinical Research helps to advance groundbreaking treatments. A challenge in this line of work: getting people in the door.

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Finding a Perfect Fit for Civita’s Public Art

Sudberry Properties took public art to a new level in its 230-acre Civita development in Mission Valley.

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Developer Sees Good Location in Bankers Hill for Building Legacy

A chunk of Bankers Hill, including the building that once housed The Daily Transcript, is being redeveloped by Tim Foley of Rancho Santa Fe.

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Carlsbad-Based Redemption Games Sells $5M Stake to Supercell

Money will go to game development and commercialization.

Oska Wellness Hires New COO/CFO

A COO/CFO gig at Carlsbad’s Oska Wellness belongs to Bob Ohlweiler, who has held positions with Hewlett-Packard, Kodak, Yahoo!, Razer, and MusicMatch.

3 Former Qualcomm Executives Launch Wireless Startup

Paul Jacobs-led effort to find funding for a buyout of Qualcomm still underway, executives emphasize.

Venter Exits CEO Role

Craig Venter is retiring as the CEO of San Diego-based Human Longevity Inc., about five months after reassuming the role.

Wednesday, June 6

Teradata to Relocate HQ to San Diego from Ohio By Year's End

More than 1,000 people are employed at Teradata's campus in Rancho Bernardo.

Silicon Valley’s Metawave Opens Engineering Office in Carlsbad

Metawave Corp., a Silicon Valley company with an interest in automotive radar, said on June 6 that it has opened a development center in Carlsbad.

COMMENTARY: Passive City Drives Cannabis to Black Market

It’s been over four years since San Diego lawmakers approved an ordinance that would regulate and license the city’s first legal cannabis dispensaries.

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SDBJ INSIDER: February Could Begin Football Season in S.D.

Former NFL team executive Jim Bailey is watching with interest as the Alliance of American Football trots out its plans to play pro ball in San Diego beginning in February.

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Shuttle Service Addresses Problems of Congestion, Climate

SERVICE: Company Set To Add Three More Vehicles By Next Month

FRED, the shuttle service that provides free rides around downtown, hasn’t seen any impacts to its ridership since the rise of the “dockless” bikes and e-scooters in the area since earlier this year.

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Gearbox Hits Right Composite Formulas

RETAIL: Sports Co. Cultivates Next Generation Of Players and Paddles

It was during his five-year stint in the United States military that Rafael Filippini, founder and president of Gearbox Sports, discovered the game — and the business — of racquetball.

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SD 500 Update: Manchester, EDC Draw Big Crowds

Doug Manchester had plenty of company from the San Diego 500 at the groundbreaking for the $1.5 billion Manchester Pacific Gateway project, the largest development of its kind in city history. The 12-acre project,12 years in the making so far, will cover eight city blocks at the waterfront and contain seven buildings.

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Frontier Announces New Flights from S.D. to Midwest and East Coast

The new destinations include Cleveland, Indianapolis, Pittsburgh, Milwaukee and Raleigh/Durham.

Tuesday, June 5

Local Fitness Apparel Brands Merge With Hylete Acquisition of Graced By Grit

Both companies are based in Solana Beach and sell workout wear primarily online.

Executive Q&A: Aaron Fulkerson, MindTouch

San Diego’s MindTouch, a tech company with software that turns business’s customer service and marketing materials into easily accessible online documents, launched in 2005.

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Signal Jamming Contractor Lands Navy Work in San Diego

Phoenix Air Group Inc. will perform several million dollars worth of work in San Diego under a recent U.S. Navy contract modification.

Beta Wealth Group Hires Operations, Compliance Chief

Headed by CEO Jodi Vleck, the firm manages nearly $300 million in assets.

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La Mesa Apartment Complex Sold For $14.1M

Wyoming company bought Rimrock Apartments

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California Economic Index Up Slightly

While the index showed only a modest gain in March, the longer-run trends of the underlying data series remain positive and are consistent with an ongoing moderate economic expansion for California this year.

Kneron, Edge AI Startup, Raises $18M In Round Led by Horizons Ventures

Hong Kong-based VC firm manages billionaire Li Ka-shing's tech investments; made early bets on DeepMind, Siri, Skype and Facebook.

North Park Retail Center Sold For $3.8M

Center is fully leased

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Sanford Gives Record Donation to National University

Philanthropist T. Denny Sanford is donating $100 million to the San Diego-based National University System to expand Sanford Harmony, a social emotional learning program.

Monday, June 4

Mitek Bolsters AI Capabilities With A2iA Acquisition

Combination creates industry's largest private group of PhD researchers in computer vision, machine learning and artificial intelligence.

Sorrento Mesa Lease Extended For $110M

American Specialty Health stays in The Elements

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Raken, Carlsbad-Based Construction Tech Startup, Raises $10M Series A

B2B software company has more than 3,000 clients; its mobile application is used in all 50 states and in 89 countries.

Brain Tumor Leads Doctors on Path to Business

SUPPLEMENTS: Co. Targets Brain Health

Anesthesiologist James Lee was thinking as a doctor and scientist, rather than a businessman, when he researched the combination of supplements that helped him recover from chemotherapy to treat a brain tumor.

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Office, Multifamily and Even Retail in Demand Downtown

PROPERTY: Startup and Food Scene Join Multifamily In Driving More Development

Downtown San Diego’s commercial real estate market was booming in the first quarter of this year, building on a trend that shows few signs of easing.

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Park 12’s Opening

Downtown’s Latest High-End Apartments Have Room for Less Affluent Renters as Well

For those for whom the sky is the limit with the means to get there, San Diego’s latest luxury apartment complex — Park 12 — has just the thing: A top floor penthouse apartment.

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Pro Back Office Adds Two New Partners

Greg Laiser and Francesca San Diego served as consulting CFOs at the accounting firm.

Cubic Hires New Manufacturing and Procurement Executive

Cubic Corp. has named Jeffrey Blakeman as its vice president of manufacturing and procurement.

Pfenex Raises $39.4 Million in Stock Offering

Net proceeds from Pfenex’s common stock offering amounted to $39.4 million, it was recently announced.

Jewelry Designer’s Brush With Royalty Doesn’t Change Her Plans

RETAIL: She Won’t Pursue Big-Box Venue, Prefers Boutiques

Although Lisette Polny has accepted her newfound fame after making headlines recently for designing the bridesmaids’ keepsakes for Meghan Markle and Prince Harry’s royal wedding, the Encinitas-based jewelry designer doesn’t plan to sell in big-box stores any time soon.

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Success Was in the Cards at Fundraiser for Boys & Girls Clubs

The La Costa 35 Athletic Club, a local nonprofit organization, announced that it raised more than $250,000 for the Boys & Girls Clubs of Carlsbad through its annual charity poker tournament.

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Sun-Kissed Beauty

Home of the Month

The distinctive character of this new home overlooking the 13th hole of the world-renowned Rancho Santa Fe golf course is deserving of its “summer house” name. The sprawling estate is clad in crisp white siding and painted white brick.

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Sunday, June 3

HMG Hospitality Names VP of Development

San Diego-based HMG Hospitality manages brands such as JW Marriott Hotels, Hilton Hotels, InterContinental Hotels Group, Wyndham Hotel Group, and Radisson Hotels.

Business Calendar for Week of June 4, 2018

Some of business events scheduled in the county for the week of June 4, 2018, and beyond.

Villa Nova Apartments Sold For $6M

Complex has 25 apartments

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Cubic Completes Sale of Its Global Defense Services Unit

Cubic Corp. said on May 31 that it closed its sale of its Cubic Global Defense Services unit for approximately $135 million cash.

Biocom Appoints Four Board Members

San Diego-based trade group Biocom appointed four new board members. The new members, announced May 31, play major roles in the region’s life sciences ecosystem:

SDBJ's 2018 Best Places To Work Awards Ceremony Set

The awards will be handed out Sept. 20 at The Westin San Diego Gaslamp Quarter and will honor top local employers that participated in a detailed survey conducted by the Best Companies Group.

Historic Streetcar Restaurant Re-Opens in Barrio Logan

El Carrito has an upgraded look and an updated menu.

Hollywood Casino Renamed Jamul Casino

San Diego Gaming Ventures LLC had managed and operated Hollywood Casino since its 2016 opening.