Daily Business Report-July 31, 2018

Northrop Grumman’s Cygnus spacecraft. (Photo courtesy of Northrop Grumman)

Northrop’s Cygnus completes

ninth cargo resupply mission

ExecutiveBiz

Northrop Grummans Cygnus spacecraft re-entered the Earth’s atmosphere on Monday after it brought approximately 7,400 pounds of cargo and supplies to the International Space Station and performed secondary space missions.

The re-entry of the space vehicle, dubbed S.S. J.R. Thompson, marked the conclusion of the company’s ninth cargo delivery mission to the orbiting laboratory under the Commercial Resupply Services 1 contract with NASA, Northrop said.

Cygnus, which took off in May  aboard the Antares rocket, stayed at the ISS for 52 days and left the orbiting laboratory on July 15 with at least 6,600 pounds of disposable cargo.

The spacecraft also deployed six CubeSats into orbit following its departure from the space station.

“We now turn our attention toward final preparations for the next Cygnus cargo mission later this year with a continued focus on supporting the needs of the crew members aboard the International Space Station, as well as enabling crucial research programs in space,” said Frank Culbertson, president of Northrop’s space systems group.

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Omniome completes $60 million Series B financing 

Omniome Inc., developer of an innovative new DNA sequencing platform, announced it has raised an additional $60 million with the completion of its Series B financing. The funding round was led by Decheng Capital and Hillhouse Capital Group, joined by Lam Research Capital and Nan Fung Life Sciences as well as current investors ARCH Venture Partners, Domain Associates, Biomatics Capital Partners and Altitude Life Science Ventures.

A portion of the proceeds from the financing will be used to expand the company’s capabilities by hiring new team members across multiple disciplines, particularly in engineering, and building out additional research and production capacity.

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University Heights property

Eyed for mixed-use development

A former church property in University Heights has been sold for $3.6 million to Jomer LLC. The seller was the Western Diocese of the Armenian Church. The new ownership could redevelop the 20,908-square-foot parcel into a mixed-use project comprised of up to 34 residential units and a commercial element. The property is located at 4473 30th St.

Colliers International San Diego Region represented the buyer and seller in the transaction.

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SANDAG donates 11 new vehicles

to St. Madeleine Sophie’s Center

The San Diego Association of Governments (SANDAG) has granted 11 new vehicles to St. Madeleine Sophie’s Center, a nonprofit organization in El Cajon that educates and empowers individuals with developmental disabilities to realize their full potential. The grant is part of SANDAG’s Specialized Transportation Grant Program which distributes both TransNet Senior Mini-Grant funds and Federal Transit Administration Section 5310 funds. The Specialized Transportation Grant Program supports its regional strategy to fund projects and programs that expand mobility options to transportation-disadvantaged groups, including seniors, individuals with disabilities and persons with limited means.

“This grant comes at a perfect time,” said Debra Emerson, CEO of St. Madeleine Sophie’s Center. “Transportation is a key piece of our independence, community integration, and job placement for adults with development disabilities. In 2017, our vehicles, which transport more than 60 percent of our students to and from campus daily, drove 633,355 miles. With our current fleet aging and becoming more expensive to maintain, the eleven new vehicles will help assure that our transportation program provides ongoing access to our students.”

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3 local San Diego UBS Advisors

make Forbess top financial advisor list

Three San Diego-based UBS wealth advisers have made Forbes’ Top Next Generation Wealth Advisors list: Alex Howell  of the La Jolla branch, Bryan Thompson of the Downtown San Diego branch, and Kalyn Maher Walker  of the Carmel Valley branch. In all, there were 126 UBS advisors included in the total list of 500.

Alex Howell, first vice president of wealth management, is part of  The Baldwin Group, a UBS financial services team located in La Jolla.

Earl B. “Bryan” Thompson III has been with UBS for 10 years, initially working at the firm’s national sales department in New Jersey and as a financial planning resource for wealth management teams in Southern California

Kalyn Maher Walker, senior vice president, wealth management, who joined the firm in 2014, has a decade of experience in financial services. She leads a team of seven at the Maher-Walker and Zeigler team located in the UBS Carmel Valley branch.

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Seaside Spine Medical Associates Joins Scripps Clinic

Seaside Spine Medical Associates, a North County-based practice focused on surgical and nonsurgical treatments for back pain and spinal conditions, has joined the Division of Orthopedic Surgery at Scripps Clinic. Seaside Spine was founded in 2013 as an independent practice located on the campus of Scripps Memorial Hospital Encinitas.

The practice’s transition to Scripps Clinic became effective July 1. There will be no changes to appointment scheduling.

The practice, now known as Scripps Clinic Division of Orthopedic Surgery, Encinitas, will remain in the same medical office building at 320 Santa Fe Drive in Encinitas, moving from suite 308 to 309.

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Personnel Annoucements

Avegail Alvarez Joins Sunrise Management

San Diego-based Sunrise Management has named Avegail Alvarez its new controller. In her new role, Alvarez takes charge of Sunrise’s accounting team and data processing staff and is responsible for directing accounts payable and financial reporting for more than 200 separate business entities.

During her nearly 25-year financial career, Alvarez has worked primarily in the San Diego region. Prior to joining Sunrise, she was with Prime Healthcare, Paradise Valley in National City as its senior accountant/payroll manager and prior to that, she worked for Pacific Medical Buildings Real Estate Services as payroll manager. She also worked for C.W. Clark Inc. as accounting and finance manager, was a controller for Crestone Communities and was senior project accountant for McMillin Companies.

She has a Bachelor of Science degree in business administration from San Diego State University and is a member of the American Payroll Association.