Daily Business Report: Monday, March 6, 2023
University’s Astrobiotechnology Hub
to drive drug discovery in space
By Nicole Mlynaryk
For stem cell research at UC San Diego, the sky’s no longer the limit.
Over the last five years, the university has become a pioneer in performing stem cell research in space. In a series of successful launches, researchers have sent blood, brain and liver stem cells onto NASA’s International Space Station (ISS), where the unique environment of low Earth orbit (LEO) offers an unparalleled view into the molecular mechanisms of cancer and aging.
These pioneering experiments have now paved the way for a new era in health science research. On February 27, 2023, leaders of the UC San Diego Sanford Stem Cell Institute announced the launch of a new Astrobiotechnology Hub, which brings together academic, industry and government partners to drive scientific and commercial innovation in stem cell research.
The announcement came a day before key members of the hub present their plans at the 2023 Biocom California Global Life Science Partnering & Investor Conference. The event marks the first public meeting of leaders in stem cell research, biotechnology, aerospace and in-space manufacturing, with all groups coming together to build consensus and break new ground.
Top Photo: Alysson Muotri holds a tray of stem cell-derived human brain organoids. (Erik Jepsen/UC San Diego)
Carlsbad company helping to lead
the electrification revolution
Carlsbad-based battery manufacturer American Lithium Energy Corporation announces it has secured a total of $13.2 million from the California Energy Commission as part of its Realizing Accelerated Manufacturing and Production (RAMP) and Zero-Emissions Transportation Manufacturing programs, with matching funds from private equity partners totaling $26.4 million. The funds will be used to expand ALE’s manufacturing production capabilities in Carlsbad and help grow the domestic supply of batteries critical for U.S. economic and national security.
Founded in 2006 by Dr. John Fan, ALE’s technology first serviced the U.S. Army and has been actively engaged and shipping products to the Department of Defense, Department of Energy, and several U.S. defense primes for more than 10 years. Now, with 40 patents and the most advanced lithium-ion battery in the world, the company offers battery applications for defense, aerospace, medical devices, electric vehicles, and much more.
$140 million in debt relief provided to
SDG&E customers over the past 3 years
San Diego Gas & Electric says it has redoubled its efforts to help its customers by securing and offering debt relief, as well as various bill assistance programs, recognizing the financial hardships brought on by inflation, the lingering effects of the COVID pandemic and the recent surge in winter heating bills driven by natural gas market volatility.
Since 2020, SDG&E customers have received about $140 million in debt relief – a combination of state and federal resources that SDG&E has either played a role in securing, administering, or processing, the company said. This consists of nearly $114 million SDG&E applied for and secured on behalf of its customers via the California Arrearage Payment Program to offset customers’ outstanding bills incurred between March 4, 2020 and Dec. 31, 2021; more than $10 million processed through the federally funded Low-Income Home Energy Assistance Program (LIHEAP) to offset overdue bills; and more than $15 million forgiven under the Arrearage Management Payment Plan.
Kerri Verbeke Kapich takes chair
of LEAD San Diego for 2023
Kerri Verbeke Kapich, chief operating officer of the San Diego Tourism Authority, is the new 2023 chair of LEAD San Diego, the leadership development arm of the San Diego Regional Chamber of Commerce.
“As a graduate of the LEAD Influence San Diego Class and an advocate of leadership development, I am honored to serve as Chair of LEAD San Diego. LEAD San Diego has helped me and so many other San Diegans gain the skills necessary to become effective leaders and make meaningful contributions to their communities, profession, and industry,” said Kapich.
Kapich will serve a one-year term as chair. Joining her on the LEAD Board are 31 board members representing San Diego County’s diverse industries and communities.
Assuming the role of vice-chair is Jason Paguio, president, and chief executive officer of the Asian Business Association. For the full board roster, click here.
San Diego’s Silvergate Bank shuts crypto
payment network amid financial uncertainty
Times of San Diego
San Diego-based crypto bank Silvergate Capital announced a “risk-based decision” to discontinue the Silvergate Exchange Network, its crypto payments network, two days after the digital asset-focused bank raised doubts about its viability.
“Effective immediately Silvergate Bank has made a risk-based decision to discontinue the Silvergate Exchange Network. All other deposit-related services remain operational,” Silvergate said Friday in a statement posted on its website.
The Silvergate Exchange Network, one of the bank’s most popular offerings, enabled round-the-clock transfers between investors and crypto exchanges, unlike traditional bank wires, which can often take days to settle.
Knauss School of Business ranks among
top 50 Undergraduate Business Schools
Once again, the University of San Diego’s Knauss School of Business made the Poets&Quants 2023 Best Undergraduate Business School Rankings. The Knauss School ranks #47 in the nation, securing its position in the top 50 for the sixth year in a row, and #2 in California.
“Knauss School of Business students are surrounded by a community of nurturing faculty and staff,” said Tim Keane, dean of the Knauss School of Business. “Our commitment to honing our students’ values-driven free enterprise skills, like emotional intelligence and design thinking, enables them with the entrepreneurial mindset necessary to influence the world in a positive way.”
To determine its rankings, Poets&Quants evaluates each university on three components: the quality and diversity of its students, how it nurtures and challenges them, and the types of employment opportunities that students land after graduation. Based on these criteria, the Knauss School of Business ranks #51 in admissions standards, #36 in academic experience and #56 in employment outcomes.
For more information on undergraduate business programs at the University of San Diego, go to sandiego.edu/business/academics/majors-and-minors/.
Last chance to see ‘Jurassic World: the Exhibition’
“Jurassic World: The Exhibition” – an immersive 20,000-square-foot experience inspired by the groundbreaking franchise “Jurassic World”– is coming to a close in San Diego on April 16 at the Westfield Mission Valley Mall. This is the final chance for fans to roam with the dinosaurs in San Diegobefore the exhibit travels to the next stop on its North American tour.
“Jurassic World: The Exhibition” is a family-friendly experience based on one of the biggest blockbusters in cinema history. Visitors can walk through the iconic “Jurassic World” gates, while exploring richly themed environments for the perfect photo moments. The revolutionary exhibit, produced in conjunction with Universal Live Entertainment, a division of Universal Parks & Resorts, allows guests of all ages to imagine what it would be like to encounter life-sized Velociraptors, the friendly Brachiosaurus, and the most fearsome dinosaur of all, the mighty Tyrannosaurus rex.
Airport receives $20 million federal
grant for Terminal 1 replacement
SAN DIEGO —The Federal Aviation Administration (FAA) announced the Biden Administration has awarded San Diego International Airport (SAN) $20 million in discretionary grant funds as part of the Bipartisan Infrastructure Law – Airport Terminal Program. The funds will be used for the New T1 program, which will replace the current Terminal 1 with a modern and efficient facility and includes improvements to the airfield, and transportation improvements to make it easier to get to and from the airport.
Palomar Health recognized as World’s Best Hospital
SAN DIEGO — California’s largest health care district, Palomar Health, has been recognized on the list of World’s Best Hospitals 2023 for the fourth consecutive year. According to Newsweek and Statista, Palomar Health earned this prestigious accolade based on the results from four different data sources/categories. The World’s Best Hospitals 2023 list recognizes the best medical institutions across 28 countries, including the U.S., and reinforces Palomar Health’s reputation as a hospital that provides extraordinary medical services on an international level.
Navy contract goes to Transtar-Orion JV
SAN DIEGO — Transtar-Orion JV, a San Diego company, has been awarded a $7,887,000 contract for a water treatment plant repairs and upgrades at Marine Corps Air Station Yuma. Work will be performed in Yuma, Ariz. The Naval Facilities Engineering Systems Command, Southwest, San Diego, is the contracting activity.
San Diego Orthopedic medical groups
join forces to remain independent
SAN DIEGO — Physicians with San Diego Sports Medicine and Orthopedic Center Inc. (SDSM), one of San Diego’s leading orthopedic practices, will join forces with Synergy Orthopedics Specialists Inc., a physician-owned medical practice. SDSM’s Dr. James P. Tasto, Dr. Michael A. Sirota, Dr. David J. Burnikel, Dr. Matthew C. Shillito, Dr. Enoch H. Chang, and Physician Assistant Sarah Potter-Smithwill practice under the Synergy Orthopedic Specialists medical group.. The partnership creates a practice with over 25 physicians and surgeons specializing in musculoskeletal system treatment, making it the largest independent orthopedic group in San Diego.
Luxe Booth photo booth rentals
opens tenth location in San Diego
SAN DIEGO — Luxe Booth, a prominent rental company for photo booths in the U.S., has recently revealed the launch of their 10th location in San Diego. This expansion marks a significant milestone for the company’s growth and presence across the nation. The expansion comes in response to the demand for photo booth rental services in the area. In fact, there are more than 3,170 monthly searches for photo booth rentals in Orange County to San Diego, indicating a huge need for the expansion.
World of Work Summit
scholarships now available
EL CAJON — Thanks to the support of the Conrad Prebys Foundation and the San Diego County Office of Education, scholarships are now available to attend The World of Work Summit at the Hilton Bayfront in San Diego March 23-25, 2023. These scholarships will cover the full cost of registration for school staff, district level leaders, and school board members of the 42 San Diego County public school districts. Scholarships are limited and will be available on a first-come basis. Find out more about the summit at worldofworkfoundation.org/summit.
ClickUp named to Fast Company’s
annual list of Most Innovative Companies
SAN DIEGO — ClickUp, the productivity platform that brings work together in one place, has been named to Fast Company’s prestigious annual list of the Most Innovative Companies for 2023. The productivity platform was recognized in the workplace category. This year’s list highlights businesses at the forefront of their respective industries — companies that are setting the standard today and paving the way for the innovations of tomorrow. As one of the fastest-growing SaaS companies in the world, ClickUp has helped more than 8 million users across 1.6 million teams lead a more productive life and save at least one day every week.
Jandy: Programming a pump
has never been so fast and easy
Jandy just changed the game when it comes to programming a variable-speed pump. The innovative equipment brand launched its NEW SpeedSet Pump Controller and its already making waves in the industry as an easier, quicker, more intuitive pump interface. Designed for quick, intuitive use, the Jandy SpeedSet controller is capable of controlling pump speeds for multiple features with 10 daily schedules, plus eight additional on-demand timed runs.
Grant helps UC San Diego School
of Medicine launch mental health program
A four-year, $4 million UnitedHealth Group grant is helping UC San Diego expand the state’s mental health workforce with a focus on inclusivity and diversity.
With the grant, UC San Diego School of Medicine has launched the Child and Adolescent Psychiatry Excellence program (CAPIE), an innovative approach to building a more diverse child and adolescent psychiatry workforce. The CAPIE program offers novel learning opportunities, individualized mentorship, pre-clinical courses, and financial support for participating medical students.
