Daily Business Report: Friday, Dec. 10, 2021
General Atomics unveils new unmanned
aircraft system called Mojave
General Atomics Aeronautical Systems Inc. (GA-ASI) is unveiling a new unmanned aircraft system called Mojave, named for one of the harshest and most austere areas the world, where deadly rattlesnakes and horned lizards adapt to survive the extreme forces of nature.
Mojave is based on the avionics and flight control systems of MQ-9 Reaper and MQ-1C Gray Eagle-ER but is focused on short-takeoff and landing (STOL) capabilities and increased firepower. It features enlarged wings with high-lift devices, and a 450-HP turboprop engine.
Mojave provides options for forward-basing operations without the need for typical airport runways or infrastructure. It can land and takeoff from unimproved surfaces while also retaining significant advantages in endurance and persistence over manned aircraft. These innovations make Mojave the perfect UAS to perform armed overwatch, attack and armed reconnaissance missions, the company said.
A prototype aircraft first flew this summer and is continuing to demonstrate exceptional short-field performance and other unique qualities.
Payload capacity is 3,600 lb. and Mojave can carry up to 16 Hellfire or equivalent missiles.
TOP PHOTO: A prototype of the Mojave UAS has been flying since July 2021. (Credit: General Atomics)
Gap widening between supply and voracious
demand for new life sciences real estate
Demand for new life sciences lab space is outpacing speculative construction in the top 12 U.S. life sciences hubs as the industry rapidly expands amid a global race for new drug development, according to a new report from CBRE.
And with the U.S. vacancy rate for existing lab and research & development space at a record low of 4.9 percent, average asking rents are skyrocketing in the top 12 markets, jumping 7.5 percent in September compared to March 2021.
In only five markets has life sciences employment has grown faster than the U.S average over the past 1, 3, 5, 10, and 15 years: Boston-Cambridge, the San Francisco Bay Area, San Diego, Raleigh-Durham, and Seattle.
Venture capital funding in San Diego has grown the fastest among all the top life sciences clusters over the past three years, at 248 percent. The San Diego lab R&D vacancy rate currently sits at 2.2 percent, tighter than the Bay Area, according to CBRE.
In only five markets has life sciences employment has grown faster than the U.S average over the past 1, 3, 5, 10, and 15 years: Boston-Cambridge, the San Francisco Bay Area, San Diego, Raleigh-Durham, and Seattle.
“We are currently tracking life sciences tenant demand in San Diego at 3.5 times historical averages,” said Ted Jacobs, vice chairman and leader of CBRE’s regional Life Sciences Practice.
Board of Supervisors approves new master
plan for McClellan-Palomar Airport
County Supervisors voted unanimously Wednesday to adopt a new 20-year master plan for McClellan-Palomar Airport designed to make the airport safer and quieter and which could potentially entice small commercial air service back to the airport.
The board also approved the master plan’s environmental studies and directed county staff to create an Airport System Sustainability Plan for all eight county airports. That plan would make county airports meet overall carbon reduction regulations in both the Climate Action Plan that the county is working on and the county’s proposed Regional Decarbonization Framework.
Supervisors said they were excited about the possibility of McClellan-Palomar becoming a leader in the air industry’s future transition to electric and alternative fuel aircraft. County staff said United Airlines recently ordered a fleet of 19-seat electric aircraft that could be flying by 2030 that would eliminate carbon emissions and reduce noise by nearly 70 percent.
The estimated cost of the master plan’s safety improvements is roughly $42 million.
San Diego Angel Conference launches 4th conference
with goal to invest $200,000 in winning company
San Diego Angel Conference, a University of San Diego (USD) School of Business program that activates accredited angel investors and engages promising early-stage companies that drive the innovation ecosystem, recently kicked off its fourth angel conference series. The SDAC provides mentorship, education, resources, and valuable connections to early-stage companies seeking angel funding as it engages first-time and experienced angel investors interested in building their investment portfolios.
The application deadline for entrepreneurs is Dec. 15 and investors begin reviewing deals in January.
The San Diego Angel Conference is currently seeking a diverse set of early-stage companies seeking funding that have the potential for a 10x return on investment within five years and a management team capable of executing the plan. The SDAC is accepting applications from the U.S., Canada, and Mexico. Entrepreneurs can apply at https://www.thesdangels.com/apply/
With 125 early-stage companies expected to apply, and an estimated $500,000+ going to the winner and runners up in varied award amounts, SDAC has become the largest angel investor program in the country, with more than $2.8 million in funding awarded to 11 startups over the last three years. See a list of SDAC portfolio companies here.
Registrar holding meetings for input
on county’s Election Administration Plan
The Registrar of Voters office is holding a series of consultation meetings inviting the public to have a say in creating the County’s new Election Administration Plan.
The meetings begin Thursday and continue through January. The plan describes how the Registrar’s office will administer elections under the Voter’s Choice Act. The public can give input on where to locate vote centers and ballot drop boxes. Attendees can also give feedback on voter education and outreach plans.
The vote center model falls under the Voter’s Choice Act, and it modernizes the election process in several ways.
Active registered voters automatically receive a ballot in the mail. In-person voting moves from traditional polling places to vote centers. And voters have the option to return their ballot by mail, a secure ballot drop box, or vote in person at any vote center. All the vote centers are open for four days and some up to 11 days, giving voters more time to return their ballot for Election Day.
The New Children’s Museum names
new executive director and CEO
Elizabeth Yang-Hellewell, former chief advancement officer for the Museum of Contemporary Art San Diego for the past eight years, has been named the new executive director and CEO of The New Children’s Museum in Downtown San Diego. She will take the post on Jan. 3, 2022.
Yang-Hellewell is an accomplished museum leader with demonstrated success in strategic development and fundraising.
At the Museum of Contemporary Art (MCASD), Yang-Hellewell was responsible for an annual operating budget of $6 million and was part of the team that raised $86 million for MCASD’s La Jolla campus expansion (public opening slated for April 2022).
In addition to fundraising, her responsibilities spanned across the institution to help develop best practices in organizational performance, budget management, forecasting and strategic planning.
Port installing more than 300 ‘reef balls’ to
help protect South Bay from rising sea levels
The Port of San Diego, in partnership with the California State Coastal Conservancy and U.S. Fish & Wildlife Service, has begun installation of the South Bay Native Oyster Living Shoreline Project adjacent to the Chula Vista Wildlife Refuge. This project has been years in the making and is the latest of several Port projects to protect the shoreline from impacts related to rising sea levels and to increase the biodiversity of San Diego Bay by creating new marine habitats.
The project’s total cost is approximately $960,000 and is fully funded via grants from the U.S. Fish and Wildlife Service and Builders Initiative. The cost covers the fabrication, installation, and long-term monitoring of the project.
“Larison Contracting Corp is pleased to be a part of the team to construct the Native Oyster Living Shoreline,” said Clint Larison, vice-president of Larison Contracting Corp. “We are enjoying working with the Port of San Diego and City of Chula Vista on this exciting project.”
Bloom Science raises $12 million in Series A financing
San Diego-based biotech company Bloom Science announced that it successfully closed a $12 Million Series A financing with a syndicate of life science investors led by Leaps by Bayer, the impact investment arm of Bayer AG, and the ALS Investment Fund. Additional investors include Apollo Health Ventures, as well as existing investor, Joyance Partners.
Bloom Science is developing therapeutics for rare neurological diseases utilizing its novel drug discovery platform IrisRx that reverse translates clinical treatments to identify the compositional and functional microbiome building blocks.
By focusing on the microbiome, the collection of trillions of bacteria that live in and on the human body, Bloom is pioneering microbiome-based therapies targeting the gut-immune-brain axis, an interconnected network comprised of microbes in the gastrointestinal tract, the host immune system, the central nervous system and the brain.
David Greco elected to chair bar association’s
Estate Planning, Trusts and Probate Section
Probate litigation law firm RMO LLP announced that David Greco has been elected to serve as the chair of the San Diego County Bar Association Estate Planning, Trust and Probate Law Section in 2022.
Greco helped launch RMO’s San Diego office in 2018. He represents beneficiaries, as well as professional and corporate fiduciaries in contested trust, estate, and probate litigation matters, as well as related estate administration issues from the trial level through appeal, including handling matters before the California Supreme Court.
Prior to joining RMO, Greco worked for the California Court of Appeal, the California Attorney General’s Office, and the U.S. District Court for the Southern District of California. He graduated magna cum laude from the University of San Diego School of Law, where he was a member of the San Diego Law Review.
Stellar Solar to power Herman Cook
Volkswagen with 65 kilowatt system
Stellar Solar, one of San Diego’s battery storage installers since 1998, has been selected by Herman Cook Volkswagen in Encinitas to install a 65 kilowatt solar system featuring 135 QCells 480 Watt panels. The system will produce enough power to completely offset their historical one year kilowatt consumption, or 104 percenr of their historical annual electricity usage.
Besides powering the dealership, the strategic partnership with Stellar Solar will offer Cook VW customers who purchase electric vehicles, a full suite of clean energy solutions including solar, battery storage and EV connectivity to help power their cars with clean energy from the sun. The partnership is the first of its kind between an auto dealer and solar company in San Diego County.
PetDX raises $62 million in Series E financing
PetDX announced the completion of its Series B financing with over $62 million in new capital raised, which is one of the biggest Series B rounds for a pet startup, bringing the company’s total funding to date to $72 million. The financing was led by Longview Asset Management with participation by Declaration Partners, Torch Capital, Aperture Venture Partners, Valor Equity Partners, Friedman Bioventure, K4 Family Investments, and Labcorp. The company’s $10 million Series A financing in August 2020 was led by Friedman Bioventure with participation from Petco and an undisclosed leading pet health care company.
Illumina supports Norway’s pioneering
precision medicine study
Illumina Inc. announced that it is supporting a national precision medicine study in Norway to assess the efficacy of blood-based comprehensive genomic profiling (CGP) in cancer therapy selection testing. The study will also evaluate the cost-effectiveness of implementing blood-based CGP in the public health care system.
The overarching study is called IMPRESS-Norway (Improving public cancer care by implementing precision medicine in Norway) and is designed to match already-approved cancer medicines with other tumors, depending on their molecular profile, to drive a precision medicine approach to cancer therapy selection across the country.
Zerigo Health appoints Helen Calvin
as president and chief commercial officer
Zerigo Health which delivers the only connected light therapy solution for treating chronic skin conditions at home or on the go, announced the appointment of Helen Calvin as president and chief commercial officer.
She will lead Zerigo’s growing commercial operations and strategy functions as the company continues its growth. Calvin is a proven business leader with deep experience delivering vision and results across the digital health space.
She will report to Zerigo’s Chief Executive Officer John Schellhorn.
Prior to joining Zerigo, Calvin served as chief Revenue and growth officer at Jellyvision, where she led extensive revenue and company growth with ALEX, the company’s interactive employee communications platform that makes choosing and using employee benefits easier and more enjoyable.
Seahorse Tours are back at Birch Aquarium
Birch Aquarium at Scripps Institution of Oceanography is relaunching its popular Behind-the-Scenes Seahorse Tours on Dec. 21.
The one-hour-long private tour, led by an expert ocean educator, takes groups of up to six people behind the scenes to explore the fascinating world of seahorses. Guests will get a glimpse of seahorse babies, learn about Birch Aquarium’s renowned breeding program, and experience what it takes to care for these unique fish — including an opportunity to feed them.
Behind-the-Scenes Seahorse Tours take place daily at 10:30 a.m. and 1 p.m. and are limited to one group of six people from the same family group or pod. The cost includes up to six people and is $250 for the general public/$225 members. Aquarium admission is separate and is $24.95 for adults, $19.95 for children ages 3-17 and free for aquarium members.
Space is limited and it is anticipated that tours will sell out. Guests can check availability and book online in advance through Birch Aquarium’s webstore.
Participants must be 8 years old or older, and minors must be accompanied by a paid adult. Closed-toed shoes are required on the tour and face coverings must be worn indoors and out regardless of vaccination status.
