Daily Business Report: Tuesday, April 18, 2023
Viasat’s evolution from a small defense
contractor to global satellite operator
For a long time, Viasat was more known for its defense products than anything else. That all changed when Viasat delivered the highest capacity broadband satellite of its time – ViaSat-1. Soon after came ViaSat-2 with even higher capacity. Now each satellite in the ViaSat-3 constellation is anticipated to deliver at least 1 Terabit of data throughput per second (1Tbps) to its wide range of global customers –on the ground, in the air and at sea.
Seasoned satellite telecommunication professionals Mark Dankberg, Steve Hart and Mark Miller established Viasat in 1986. Together they were critical behind-the-scenes players in the satellite communications world. They delivered solutions for the military, commercial customers and even internet service providers (ISPs), building vital modems for fighter jets that transmitted real-time information to pilots, and ground stations that connected rural homes to the internet.
Expanding its focus in 2008, Viasat stepped into the spotlight when it announced the build of its own satellite, ViaSat-1, the first generation of Viasat’s satellite evolution. It is important to note that VS-1 is not just any satellite. A company press release issued at the time said the $400 million ViaSat-1 would be “the world’s highest capacity broadband satellite.”
Top photo: ViaSat-3 rendering
General Atomic flies MQ-20 Avenger
autonomously using AI pilots
On April 6, 2023, General Atomics Aeronautical Systems (GA-ASI) conducted live, tactical, air combat maneuvers using Artificial Intelligence (AI) pilots to control a company-owned MQ-20 Avenger Unmanned Aircraft System. Collaborative maneuvers between human and AI pilots were conducted using General Atomics’ Live, Virtual, Constructive (LVC) collaborative combat aircraft ecosystem over a Low Earth Orbit (LEO) satellite communication (SATCOM) provider’s IP-based Mission Beyond Line of Sight datalink. The LEO SATCOM connection was also used to rapidly retrain and redeploy AI pilots while the aircraft was airborne, demonstrating General Atomics’ ability to update AI pilots within minutes.
Merck to buy San Diego’s Prometheus
Biosciences in $10.8 billion deal
Times of San Diego
Merck & Co. said on Sunday it will buy San Diego’s Prometheus Biosciences for about $10.8 billion, in an effort to build up its presence in immunology. In doing so, Merck will pick up a promising experimental treatment for ulcerative colitis and Crohn’s disease, while paying $200 per share for the biotechnology company that specializes in treatments for autoimmune diseases.
The price represents a 75 percentpremium to the $114.01 closing price for Prometheus shares on Friday.
“This is allowing us to move into immunology in a strong way and will allow us sustainable growth, we think, well into the 2030s given the long patent life,” Merck Chief Executive Robert Davis said in an interview.
Prometheus outlines its beginnings on its website, dating back more than 20 years, with the work of Dr. Stephan Targan, of Cedars-Sinai Medical Center in Los Angeles. That ultimately led to the formation of Precision IBD – IBD stands for inflammatory bowel disease – the precursor to Prometheus Biosciences, which credits a Cedars-Sinai team as continued “close partners and collaborators.”
Local listings for Prometheus include Science Park Road in La Jolla and Carroll Park Drive in Sorrento Valley.
New James M. Cox Foundation
Technology Immersion Lab unveiled
Sharp HealthCare Foundation on Friday unveiled the new James M. Cox Foundation Technology Immersion Lab during a ribbon-cutting ceremony to celebrate the opening of the Sharp Prebys Innovation and Education Center (SPIEC) in Kearny Mesa, which houses the technology immersion lab. The lab was funded by a $500,000 grant from the James M. Cox Foundation, the charitable arm of Cox Enterprises (parent company of Cox Communications) and named after the company’s founder.
The James M. Cox Foundation Technology Immersion Lab will enable Sharp researchers, clinicians, technologists, and industry partners to explore leading-edge technologies including artificial intelligence, software development, machine learning, and advanced analytics, all in support of Sharp’s leadership in health care innovation.
The 68,000-square-foot, four-story SPIEC is located on the campus of Sharp HealthCare’s headquarters at 8695 Spectrum Center Blvd. in Kearny Mesa.
In addition to the $500,000 James M. Cox Foundation grant, Cox Communications previously made a $75,000 donation to the project. Both donations were made during a match campaign by the Conrad Prebys Foundation, which brought the grants’ impact to a total of $1.15 million.
Heart attack study could change
the game in regenerative medicine
Sanford Burnham Prebys researchers have identified a group of proteins that could be the secret to cellular reprogramming, an emerging approach in regenerative medicine in which scientists transform cells to repair damaged or injured body tissues.
The researchers were able to reprogram damaged heart cells to repair heart injuries in mice following a heart attack. The findings, which appear in the journal Nature Communications, could one day transform the way we treat a variety of diseases, including cardiovascular disease, Parkinson’s and neuromuscular diseases.
Scripps Research scientists granted
up to $12.8 million to study viral infections
Scientists at Scripps Research have received a significant grant to study the evolution and outcomes of human infections with SARS-CoV-2, Lassa virus and Ebola virus. The team will receive roughly $2.5 million each year for a maximum of five years, bringing the total potential award to $12.8 million.
The funds—a grant renewal from the the National Institutes of Health’s (NIH) National Institute of Allergy and Infectious Diseases (NIAID) first awarded in 2018—will support the Scripps Research-led Center for Viral Systems Biology (CViSB) over this time.
Casey Gerry elects partner
Jason Evans to Executive Committee
CaseyGerry, San Diego’s oldest plaintiffs’ law firm, has elected partner Jason C. Evans to its executive committee – the firm’s management body.
In his new role, Evans will be charged with overseeing all day-to-day operations and management for CaseyGerry, including litigation directives, strategic planning, finance and more.
Evans, who was promoted to the firm’s partnership in 2020, originally joined CaseyGerry in 2011, and since that time has handled a number of complex high-profile cases.
Known for taking on multi-million-dollar cases including complex, high-stakes personal injury and products liability litigation, Evans’ broad experience involves both state and federal courts throughout California and nationwide.
Throughout his 12-year tenure with CaseyGerry, he has concentrated his practice on wrongful death, aviation and serious personal injury litigation, earning a reputation for taking on big opponents including government entities and international airlines.
San Diego’s Biotechnical Services
acquired by Flagship Facility Services
SAN DIEGO — Biotechnical Services, an independent laboratory services company headquartered in San Diego, has been acquired by Flagship Facility Services, a Texas company. BTS provides ongoing quality services and support to sustain innovation in biotech. The company’s main services are lab equipment repair, calibration, and maintenance. Integrating BTS’s services with Flagship’s lab services capabilities will bring the latest technology and comprehensive asset management system along with qualified engineers to biotech clients.
American Student Assistant expands its free
suite of digital experiences to help teens
SAN DIEGO — American Student Assistance (ASA) – a national nonprofit changing the way kids learn about careers and navigate a path to postsecondary education and career success – announced the expansion of its free suite of digital student-led career readiness experiences. They are designed to help kids gain awareness of education pathways and career possibilities that match their interests, increase access to valuable skill sets, and give them the confidence they need to navigate a path to success after high school. EvolveMe,
the newest addition to ASA’s suite of mobile experiences, was co-created with a nationwide panel of middle and high school teen advisers who provided feedback on design, site features and functionality.
Sharon Zimbler appointed a regional vice
president of Discovery Behavioral Health
CARLSBAD — Sharon Zimbler, chief executive officer of Montecatini, a treatment center specializing in eating disorders located in Carlsbad, has been appointed regional vice president, Eating Disorder Operations, for Discovery Behavioral Health Inc. in Los Angeles.
Zimbler is a marriage and family herapist with a doctorate degree from Alliant International University in San Diego. During her doctoral studies, she focused her research on the co-occurrence of eating disorders and substance abuse. She has spoken nationally as an expert on eating disorders.
Just in Time for Foster Youth launches new book
SAN DIEGO —Just in Time for Foster Youth (JIT), a grassroots nonprofit in San Diego serving transition age foster youth ages 18-26, has launched a new book titled “Life Changing Choices: The 7 Essential Choices at the Heart of Transformational Change For Foster Youth and Your Community.” Co-authored by JIT staff members with experience in foster care, the book offers seven life-altering choices that all communities must consider if they want to significantly improve the outcomes for children and young adults who experience foster care. The book is now available to purchase on Amazon.com: https://www.amazon.com/dp/B0BZKFCHH6.
Tandem Diabetes Care announces publication
SAN DIEGO —Tandem Diabetes Care Inc., a leading insulin delivery and diabetes technology company, announced publication by Diabetes Technology & Therapeutics of a meta-analysis of three randomized controlled trials of its Control-IQ advanced hybrid closed-loop technology. Results demonstrate the positive clinical impact of the system’s automatic correction bolusing on glucose control across a wide range of ages and demographics of people living with type 1 diabetes.
Fred Buehler named a vice president
of The Bumble Bee Seafood Company
SAN DIEGO — The Bumble Bee Seafood Company is growing its commercial team with the new hire of Fred Buehler as vice president of mass, club and drug channels. Buehler will be responsible for leading the Bumble Bee sales team working with mass, club and drug customers, including providing leadership strategy and tactical execution solutions. Buehler joins Bumble Bee with more than 30 years of sales leadership experience across premier CPG organizations, including Pepsi-Cola, Kellogg’s, Starbucks, Nestlé and most recently as the Vice President of Sales for Amscan, the wholesale division of Party City.
Acadia Pharmaceuticals announces
availability of Rett syndrome treatment
SAN DIEGO — Acadia Pharmaceuticals Inc. announced that DAYBUE (trofinetide) is now available for the treatment of Rett syndrome in adult and pediatric patients two years of age and older in the United States. DAYBUE has demonstrated the potential to improve the signs and symptoms of Rett syndrome. DAYBUE was approved by the U.S. Food and Drug Administration (FDA) on March 10, 2023, and is the first and only drug approved by the FDA for the treatment of Rett syndrome.
Ivy Fertility acquires Virginia Fertility & IVF
SAN DIEGO — Ivy Fertility, a globally-recognized innovator in advanced reproductive technology, in-vitro fertilization (IVF), and third-party reproduction, has acquired Virginia Fertility & IVF based in Charlottesville, Va. Ivy Fertility is globally recognized as pioneers and innovators in the field of advanced reproductive technologies, in-vitro fertilization, third-party reproduction, andrology, and fertility research.
Pipeline Therapeutics announces development
agreement with Janssen Pharmaceutical
SAN DIEGO — Pipeline Therapeutics, a clinical-stage biopharmaceutical company pioneering precision neuroregeneration,has entered into a global license and development agreement with Janssen Pharmaceutical, one of the Janssen Pharmaceutical Companies of Johnson & Johnson, for the investigational compound, PIPE-307 to treat nervous system disorders. PIPE-307 is an oral, highly selective antagonist of the muscarinic M1 receptor, which has completed two Phase 1 clinical trials in healthy patients and has received Investigational New Drug clearance from the Food and Drug Administration.
Scientist.com expands to include broad
selection of life-science reagents and lab supplies
SAN DIEGO — Scientist.com, the premier R&D marketplace for the biopharmaceutical industry, announced that its users can now buy off-the-shelf reagents, lab supplies and consumables through the platform. Scientist.com users can access almost 5,000 research suppliers and purchase more than 15 million research products and services with ease. An easy check out process, simple search functionality and a dedicated customer support team make purchasing on the platform quick, reliable and cost efficient.
Kratos and ALL.SPACE in strategic partnership
Kratos Defense & Security Solutions Inc., a technology company specializing in defense, national security and communications solutions, and ALL.SPACE, the world’s only provider of multi-orbit smart terminals, announced a strategic partnership aimed at jointly developing and delivering solutions that will enable software-defined satellite ground systems to better leverage the capabilities of next-generation smart terminals. The combined solutions are expected to enhance dynamic operations end-to-end across the ground segment from the gateway to the network’s edge, placing more application power in the hands of end users and greatly expanding flexibility beyond today’s proprietary, purpose-built, satellite terminals.
