Daily Business Report-July 9, 2020
Create, a 146,108-square-foot pharmaceutical manufacturing plant in Carlsbad. (Photo credit: Cushman & Wakefield)
MilliporeSigma to conduct viral and gene
therapy production at newly developed
pharmaceutical facility in Carlsbad
MilliporeSigma, the life science business of Germany’s Merck KGaA, has signed a long-term lease for a newly developed 146,108-square-foot Class A pharmaceutical manufacturing facility in Carlsbad. Called Create, the facility is at 2827 Whiptail Loop West.
Los Angeles-based BLT Enterprises acquired the property from RPG, formerly RAF Pacific Group, for $40.45 million in late June. This was after RPG had leased the property to MilliporeSigma. Cushman & Wakefield represented RPG in both the lease and sale.
MilliporeSigma’s new $110 million commercial facility is expected to open next year and will be the company’s second Carlsbad-based facility. MilliporeSigma’s new manufacturing facility will support viral and gene therapy production at the 1,000-liter scale using MilliporeSigma’s Mobius single-use equipment.
Create was designed by RPG as a lifestyle campus with high image two-story lobbies, large retractable open air windows, solar power, and an amenitized West-facing outdoor sundeck. The campus also features a bocce ball court, barbeque area, and ocean/canyon views.
“This lease and expansion by a major company who has operated and made significant real estate investment in Carlsbad for decades further reflects the continued growth and desirability of our local life sciences market,” said Aric Starck, vice chairman with Cushman & Wakefield.
______________________________
Small Business Stimulus program
approved by Board of Supervisors
The Board of Supervisors approved a new Small Business Stimulus Program, where for-profit and nonprofit businesses and organizations can apply for grant money if they can show losses and costs are a direct result of the coronavirus pandemic.
To qualify businesses must have:
- 100 or fewer employees
- Headquarters in San Diego County
- A minimum 1-year operating history as of Feb. 14, 2020
- Documentation of financial hardship because of COVID-19
Supervisors had approved using $17 million in CARES Act Coronavirus Relief Funds last May to help restaurants and small businesses. Tuesday, the supervisors approved the implementation of the program.
Businesses are urged to apply early. Applications are available now through Oct. 16 – subject to available funding.
For more information and the application, visit the stimulus website.
______________________________
General Atomics to conduct validation flights
of SeaGuardian RPAS for Japan Coast Guard
General Atomics Aeronautical Systems Inc. (GA-ASI) will partner with Asia Air Survey (AAS) to hold a series of validation flights for the Japan Coast Guard featuring the company’s SeaGuardian RPAS (Remotely Piloted Aircraft System) beginning in mid-September.
The purpose of the flights is to validate the wide-area maritime surveillance capabilities of Remotely Piloted Aircraft Systems (RPAS) for carrying out Japan Coast Guard’s missions, including search and rescue, disaster response, and maritime law enforcement.
The flights are expected to run for approximately two months and will include support from the Japan Maritime Self Defense Force at its Hachinohe base in Aomori Prefecture.
“We’re pleased to support the Japan Coast Guard’s goals of validating SeaGuardian’s maritime surveillance performance,” said Linden Blue, CEO of GA-ASI. “We know there is a need in Japan and worldwide for affordable, long-endurance airborne surveillance in the maritime domain.”
______________________________
California sues Trump, Education
Secretary over school funding
CalMatters
California is suing the Trump administration and U.S. Education Secretary Betsy DeVos over federal guidance that would allow private schools to receive more federal coronavirus aid, leaving less money for low-income public schools, Attorney General Xavier Becerra and Superintendent of Public Instruction Tony Thurmond announced.
California joined five other states in arguing that the education department’s interim final rule ignores Congress’ intention for private schools to receive aid based on how many disadvantaged students they enroll, rather than their total populations.
Becerra, who’s sued the Trump administration more than 80 times, said the rule could divert “tens of millions of dollars” of the $1.5 billion in federal aid intended mainly for California public schools to private institutions.
Becerra: “Secretary DeVos will argue that it’s about providing equitable services, and that couldn’t be further from the truth. This pandemic is hurting all of our schools. Those with the fewest resources have less ways to confront the challenges, and Secretary DeVos knows that.”
______________________________
Stella Labs announces call for entries
for annual Women’s Fast Pitch competition
Business accelerator Stella Labs announced a call for entries for its annual Women’s Fast Pitch competition series, which will take place virtually every Tuesday evening for six weeks starting on Aug. 4, 2020.
Each week, participants from a different United States region will pitch their business ventures in front of investors and members of the startup community. The winner from each region will advance to the national competition which will take place during Women’s Venture Summiton Sept. 18 and 19. One winner will take home a $10,000 investment and $30,000 in in-kind services.
Female founders, especially founders of color, who formed their businesses prior to June 1, 2020 are eligible to apply now. All applications will be reviewed by an independent panel of investors and innovation advocates. To apply, click here.
“Our goal has always been to increase representation and funding opportunities for women- and minority-led startups,” says Raven O’Neal, executive director of Stella Labs. “Because we are making this year’s Women’s Fast Pitch a fully virtual experience, we are expanding our reach and ensuring the representation of diverse founders nationwide.”
______________________________
Plex Pharmaceuticals awarded $1.6 million
in grants to advance eye drop therapy for cataracts
San Diego-based Plex Pharmaceuticals Inc. has been awarded two Small Business Innovation Research grants from the National Institutes of Health National Eye Institute: a $1.3 million Phase II grant and a $300,000 Phase I grant.
Under the Phase II grant, Plex intends to advance its lead anti-cataract drug candidate, CAP4196, through preclinical and IND enabling studies to gain clearance from the FDA to initiate its first-in-human clinical trials for the non-surgical treatment of cataracts.
Plex also intends to develop its anti-cataract drug candidate, CAP4349, as an effective topical eye drop formulation to enhance its characteristics to effectively cross the cornea and accumulate in the eye lens in concentrations that can result in beneficial clinical outcomes under the Phase I grant.
______________________________
ATTOM Data Solutions acquires
San Diego-based Home Junction Inc.
Home Junction Inc., a San Diego real estate data technology company, has been acquired by ATTOM Data Solutions, a property database company. Home Junction specializes in building geographic boundary datasets for neighborhoods, school attendance zones, subdivisions and more.
“This acquisition extends ATTOM’s data footprint and will enhance our value proposition for our customers, while integrating a talented team from Home Junction to an already talented team at ATTOM,” said Rob Barber, CEO of ATTOM. “While data elements are important, people elements are even more important. This is an important acquisition because it is an investment in both data and people.”
The acquisition of Home Junction will expand ATTOM’s data warehouse by adding proprietary school and neighborhood boundary data, crime, points of interest and demographics. ATTOM will continue Home Junction’s commitment of servicing real estate agents, teams and brokers with a suite of products that include custom websites and data widgets, the company said.
______________________________
VelosBio raises $137 million in Series B
financing to advance cancer therapies
VelosBio Inc., a San Diego clinical-stage biopharmaceutical company developing cancer therapies, today announced the completion of an oversubscribed Series B financing of $137 million led by Matrix Capital Management and Surveyor Capital (a Citadel company). The company has raised a total of $202 million in gross proceeds from private financings since its founding in 2017.
Proceeds from the Series B financing will be used to further advance the clinical development of the VelosBio lead antibody-drug conjugate (ADC), VLS-101, and support the continued expansion of its pipeline of ROR1-directed next-generation ADCs and bispecific antibodies.
______________________________
Cubic awarded contract to deliver
Sharklink systems for the Navy
Cubic Corporation said its Cubic Mission Solutions business division was awarded a five- year contract worth approximately $9 million from Naval Information Warfare Systems Command (NAVWAR) for the production of Communication Data Link System equipment.
Under the contract, Cubic will deliver its Sharklink system for use on two aircraft carriers. Sharklink is a high-performance, surface data terminal that supports secure, long-range high data rate communications with airborne and shipboard platforms.
“Cubic’s Sharklink system will extend the U.S. Navy CVN capability to simultaneously communicate with multiple manned and unmanned aircraft operating within the battlegroup,” said Mike Twyman, president of Cubic Mission Solutions. “This is a key contract win for us and we look forward to working closely with NAVWAR to field the system on the CVNs.”
This contract is a follow-on to the development contract which Cubic was awarded in 2017. The initial Sharklink systems are currently being installed on the USS Nimitz and USS Carl Vinson.
______________________________
Theodore Roosevelt carrier strike group
returns to San Diego from deployment
The Nimitz-class aircraft carrier USS Theodore Roosevelt returns to San Diego today, marking the end of her deployment to the U.S. 7th Fleet area of operations.
More than 6,000 sailors from Theodore Roosevelt Strike Group and embarked Carrier Air Wing 11 deployed Jan. 17 to conduct routine operations in the Indo-Pacific and maintain security and stability in the region.
Theodore Roosevelt sailed over 31,835 nautical miles, deploying dynamically to support dual-carrier operations, expeditionary strike force operations, air defense exercises, and joint-service interoperability exercises.
The ship had an outbreak of Coronavirus in early March and pulled into Guam ahead of a scheduled port visit. Theodore Roosevelt rapidly responded and strategically moved more than half of the crew off ship to quarantine at various locations on Guam, leaving enough sailors aboard to stand critical watches and to clean and sanitize the ship. The crew members who met rigorous return to work criteria set forth by U.S. Pacific Fleet returned to the ship and were able to get underway and back to their mission June 4.
