Daily Business Report-Aug. 23, 2016

Histogen’s HSC— Hair Stimulating Complex. (Credit: Histogen)

China Firm Invest $6 Million in San Diego

Company Making Hair Growth Product

Histogen Inc., a San Diego regenerative medicine company developing solutions based on the products of cells grown under simulated embryonic conditions, announced that Pineworld Capital Ltd, an affiliate of Huapont Life Sciences, has made a $6 million private equity investment into the company to continue development of Histogen’s Hair Stimulating Complex.

Through this investment, Huapont’s affiliate will be the lead investor in Histogen’s Series D

financing round. The proceeds from the Series D financing will in part be utilized to advance Histogen’s hair growth product, HSC, in the United States, as well as to begin preparations for an Initial Public Offering (IPO).

“We are honored that the leading dermatology company in China has recognized the potential of Histogen’s technology,” said Dr. Gail Naughton, Histogen CEO and chairman of the board. “We are looking forward to a fruitful relationship, and to having Hayden Zhang as a valuable addition to Histogen’s Board of Directors.”

Huapont will have a right to name one director to the Histogen Board of Directors, and has certain participation rights to invest in future equity financings. Huapont and Histogen intend to enter a license and supply agreement for the development and commercialization of HSC in Mainland China, with terms and conditions to be announced.

Sheppard Mullin represented Histogen in this transaction. The Sheppard Mullin deal team included Will Chuchawat, Adam Ettinger, Andrew Kreider and Darie Ofek.

Histogen Inc.

• Headquarters facility San Diego
• 14 employees
• 6 patents issued and 5 pending in the US, 21 foreign patents pending.
• Revenues were $1.1 million and $1.39 million in FY 2013 and FY2014, respectively.
• Applications include: 1) Skincare 2) Hair Stimulating Complex 3) Oncology 4) Orthopedics 5) Wound healing.

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Northrop Taps Raytheon for $104M

Air Force Global Hawk Subcontract

GovConWire

Northrop Grumman Corp. has awarded Raytheon a potential $104 million subcontract to update the ground controls of the U.S. Air Force’s RQ-4 Global Hawk unmanned aerial system.

Raytheon will equip the mission control stations for the Northrop-built UAS with open architecture that will work to facilitate the addition of new platforms and mission payloads by the service branch, the company said Monday.

Raytheon will also provide cybersecurity platforms and set up building-based mission control facilities at Beale Air Force Base in California and Grand Forks AFB in North Dakota under the contract.

Global Hawk is designed to fly at a maximum altitude of 60,000 feet for at least 34 hours and has moving target indicator and signals intelligence sensors that work to support intelligence, surveillance and reconnaissance missions.

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Escondido to Get 1st New Industrial

Development in More Than 10 Years

Badiee Development, a San Diego-based real estate development firm, announced plans to develop the Escondido Victory Industrial Park following the $1.3 million acquisition of a 4.87-acre parcel located at 2005 Harmony Grove Road in Escondido.

“The Escondido Victory Industrial Park will be the first new industrial development in Escondido in more than a decade,” said John Couvillion, vice president of development at Badiee Development, “It is ideal timing for this project with current vacancy levels at 1.8 percent in Escondido and a lack of new industrial buildings in the development pipeline due to an extremely constrained land supply.”

Couvillion said the two-building, 91,000-square-foot industrial park, designed by Ware Malcomb, is ideally suited for one or two larger tenants. It will feature a 26-foot clear height, grade-level and dock-high loading, mezzanine space, and outdoor common areas that enhance connections to the Escondido Creek and trails. Badiee Development plans to break ground late this year.

Colliers Internationalare the listing brokers for Escondido Victory Industrial Park. TFW Construction is the general contractor.

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General Atomics Division Receives

Order for Project in South Korea

General Atomics Electromagnetic Systems has received an order for a 16-module Gulftronic Electrostatic Separator system for installation at the new Residue Upgrading Complex project at S-Oil Corporation’s Onsan refinery in the Republic of Korea.

“We are very pleased to be working with S-Oil and their contractor, DDJV, to deliver a solution designed to meet their requirements for both oil clarity and increased production capacity,”  said Scott Forney, president of GA-EMS. “Due to the many challenges they faced with mechanical filtration systems, we are pleased to have our Gulftronic technology selected for this new project to help them maximize revenue potential going forward.”

S-Oil was established in 1976 and is one of Korea’s leading refiners and a major provider of lubricants and gasoline.

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General Dynamics NASSCO to Launch

Sixth of Eight Fuel-Efficient Tankers

By City News Service

The sixth of eight tanker ships being built at General Dynamics NASSCO will be launched Saturday, the San Diego-based shipyard announced Monday.

The 610-foot Constitution will be able to transport up to 330,000 barrels of petroleum. The 50,000-ton ship can be converted to run on liquefied natural gas, according to NASSCO.

The launch ceremony, scheduled to begin at 4:45 p.m. and open to the public, will include hundreds of shipbuilders and their families, the San Diego Children’s Choir singing the national anthem and complimentary ice cream sandwiches.

The ship’s sponsor, Cristin Thorogood — wife of Dan Thorogood, Seacor Ocean Transport president — will conduct the traditional champagne bottle break over the ship’s hull.

Sandi Dunkel, a NASSCO employee for nearly 25 years, will pull the trigger to release the ship into the San Diego Bay.

For safety reasons, members of the public who attend are asked to wear long pants, a shirt or blouse with sleeves, and flat, hard sole, closed-toe shoes. No shorts, capri pants, skirts, tank tops, open-toed shoes, high heels or sandals are permitted.

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University of California to Work With NASA

To Develop Small Spacecraft Technologies

The University of California is one of eight university teams chosen by NASA to work with the agency’s engineers and scientists on two-year projects to develop new small spacecraft technologies.

The space agency said these collaborations aim to create small, lightweight spacecraft that could support science, exploration and space operations.

NASA chose from a variety of submitted proposals on enhanced power generation and storage, crosslinking communications systems, relative navigation for multiple small spacecraft as well as instruments and sensors for small spacecraft science missions.

Besides University of California, the selected universities are: Rochester Institute of Technology; University of Miami; University of Florida; Massachusetts Institute of Technology; Stanford University; Arizona State University; and University of Michigan.

NASA said the universities will receive an annual funding of up to $100,000 under the cooperative agreement with the space agency.

The teams will have the opportunity to work with local NASA experts at Goddard Space Flight Center, Ames Research Center, Glenn Research Center, Kennedy Space Center and Jet Propulsion Laboratory.

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Personnel Announcements

Bill Ness Joins Sullivan Solar Power

Bill Ness has joined the San Diego-based Sullivan Solar Power team as vice president of sales and marketing.

Ness has more than 25 years of sales, marketing and operations experience, most recently as senior vice president of admissions for Bridgepoint Education in San Diego. Ness specializes in B2C and B2B business operations. His previous portfolio includes clientele ranging from $5 million to $1 billion in sales, including Bridgepoint Education, EADS, Road Runner Sports and American Express.

Ness is part of the company’s executive leadership team, overseeing the sales and marketing teams.

 

Ericka Moody Named President of Design Line Interiors

Long time design professional Ericka Moody has been named president of Design Line Interiors by the firm’s founder, Dawn Davidson, who will chairman and chief executive officer.

Moody is entering her 19 year at Design Line, where she has helped manage the successful installation of over 800 projects for national and international builders. Model home interiors installed under her leadership have earned national acclaim for Design Line and its builder clients, including the most recent Gold Nugget award for North America’s Project of the Year, The Oaks Farms in San Juan Capistrano.

Moody, an alum of the design program at California Polytechnic State University, has risen through the ranks at Design Line since joining the firm in 1998, most recently serving as director of design.

“Ericka’s many years of managing operations and production schedules provides the foundation to direct all elements of the design process, including field work, construction walk-throughs, project visioning and programming, and accounting and purchasing,” said Davidson. “This promotion is the culmination of many years of hard work and dedication.”

Davidson founded Design Line Interiors in 1985 after graduating with a degree in interior design and architecture from Woodbury University.