Daily Business Report: July 27, 2023
New Infinity Lab offers incubator to biotech startups
By Brian Hiro | Cal State San Marcos
When Thomas Lyle Temple began searching for lab space to house his biotech startup, he wasn’t exactly enamored with his options.
Temple toured private facilities in the region that failed to meet his expectations in myriad ways – whether the culprit was age, accumulated dust or debris. And for the privilege of occupying such a space, the going rate was a shocking $10,000 a month, or more.
What a pleasant change it was for Temple, then, when his nascent company’s head of business development told him about a new opportunity to rent room in Cal State San Marcos’ Extended Learning building. The bright and modern lab on the fourth floor marked such a sharp contrast to what he had been seeing that he accepted on the spot.
“It’s been wonderful,” Temple said. “This lab space is incredibly nice.”
Temple is the president and CEO of Grann Pharmaceuticals, a biotech that he formed with several classmates while they were still students at Whittier College. This spring, before they even had graduated, Grann moved into the Infinity Lab, a state-of-the-art research facility in the Extended Learning building. Just last week, Grann was joined in the lab by a second client: Alcheme Bio, a small startup founded by Vanessa Small, a member of the advisory council for CSUSM’s College of Science, Technology, Engineering, and Mathematics.
Photo: Scientists from biotech startup Grann Pharmaceuticals work in the Infinity Lab. The lab is on the fourth floor of the Extended Learning building. (Photo by Alicia Lores)
Petco announces layoffs
Looking to cut costs and shift strategies to become more competitive in the tight pet care and pet supply market, Petco announced it is laying off 56 workers at its San Diego headquarters. The animal supply and wellness company filed a Worker Adjustment and Retraining Notification (WARN) notice with the state Monday.
The layoffs will happen in two rounds: the last day for 47 people will be Friday. Nine more Petco employees will have their last day on Oct. 27. Employees were notified Monday.
Three life science companies sign leases at GENESIS-Del Mar
Phase 3 Real Estate Partners Inc. announced three new leases at GENESIS-Del Mar, a newly converted 86,000-square-foot lab building located at 12250 El Camino Real in the Del Mar Heights.
JLL’s Chad Urie, Grant Schoneman and Taylor DeBerry represented the landlord, Phase 3 Real Estate Partners, in the three leases:
• Mabwell Therapeutics, Inc., a biotechnology company focusing on the discovery and development of antibody and protein-based drugs in multiple therapeutic areas, signed a 6,722-square-foot lease. Mabwell Therapeutics was represented by Tristen Schneider and John Hundley of Kidder Mathews.
• Genece Health, a company combining artificial intelligence with whole genome sequencing for early detection of cancer from blood samples (liquid biopsy), signed a 5,152-square-foot lease. Genece Health was represented by Shane Poppen of Hughes Marino.
• Lygos Inc., a pioneering sustainable specialty chemicals company, leading the world’s transition toward better, cleaner, and more sustainable products, signed a 4,511-square-foot lease. Lygos, Inc. was represented by Shane Poppen of Hughes Marino.
USD professor’s book ‘Women’s Work’ wins 2023 Gourmand Award
A book by USD Spanish professor Rebecca Ingram received a 2023 Gourmand International Cookbook Award for Spain in the Women of the World category.
“Women’s Work: How Culinary Cultures Shaped Modern Spain” is a study of cooking as it relates to Spanish modernity and the roles of Spanish women.
The World Cookbook Awards screen more than 100,000 books and publications from 230 countries and regions to present a comprehensive picture of the world of food and drink
UC San Diego Library’s 2023 Art of Science exhibit opens Friday
Art and science converge in a new Art of Science exhibit curated by the UC San Diego Library and slated to open on Friday. The exhibit features nine winning images from the library’s 2023 Art of Science contest and will be on view at two locations — the San Diego Natural History Museum and Sally T. WongAvery Library — through Jan. 15, 2024. A digital exhibit has also been created to share the images more broadly and will remain online in perpetuity.
Covered California announces biggest increase in premiums since 2018
By Kristen Hwang | CalMatters
Premiums for health insurance sold through the state marketplace will increase by nearly 10 percent next year, the highest rate hike since 2018, Covered California officials announced.
The projected 9.6 percent hike is the result of a “complicated time for health care,” Covered California Executive Director Jessica Altman said during a media briefing, but many Californians will be shielded from the increases as a result of federal and state financial assistance.
About 90 percent of enrollees qualify for some type of federal or state financial aid and 20 percent will see no change in their monthly premium, officials said. About 1.6 million Californians turn to the marketplace for health insurance, which offers plans that cost as little as $10 a month.
The rate increase, however, represents the return of a troubling trend: runaway health care costs, experts said.
The Inn at Rancho Santa Fe resort sells for $100 million
RANCHO SANTA FE — An institutional investment fund has spent $100 million to acquire The Inn at Rancho Santa Fe, an 85-room, full-service, luxury boutique resort in Rancho Santa Fe. The resort is undergoing an extensive “top-to-bottom” renovation. When fully operational in the fourth quarter of this year, it will be positioned as one of the most preeminent and exclusive destinations in California, according to Sonnenblick-Eichner Company. The resort was purchased by an institutional investment fund.
Stephen Walton joins Douglas Wilson Companies as chief marketing officer and VP
Douglas Wilson Companies announce the addition of Stephen Walton as chief marketing officer and vice president.
Walton is responsible for designing and leading the organization’s corporate brand marketing and reputation as well as community engagement, media relations, and business development.
As an executive leadership team member, Walton drives DWC’s growth across existing and new business channels.
From 2015 to 2023, Walton was regional head of marketing at Polsinelli, one of the top-performing law firms in the U.S.
Port to host National City Bayfront community meeting
NATIONAL CITY — The Port of San Diego will host a community meeting on Aug. 9 to update residents and stakeholders on the Port’s many projects, programs, and investments on, in, and around the National City Bayfront.The meeting will be led by Vice Chair Sandy Naranjo, National City’s appointee to the Port of San Diego Board of Port Commissioners. The meeting is at 6 p.m. at the ILWU Local 29 Hall.
AMA accepting registrations for the Art of Marketing: The 360 Marketer
SAN DIEGO — The American Marketing Association San Diego chapter is accepting registrations for it’s the Art of Marketing: The 360 Marketer, set for Friday, Oct. 6 from 8 a.m. to 5 p.m. in the Knauss Center of Business Education building on the University of San Diego campus. The conference will feature more than 30 keynotes and speakers, panels and fireside chats designed to explore the knowledge marketers need to navigate the marketing landscape.
Power Digital Marketing launches nova Intelligence
SAN DIEGO — Power Digital, a leading tech-enabled growth marketing firm, announces the launch of nova Intelligence, the first marketing Intelligence application that empowers marketers with the information they need to scale, within minutes. This initial launch of nova Intelligence includes three modules: nova Forecasts, nova Cohorts, and nova Customer Insights, and precedes a roadmap for additional module launches this year. Through the remainder of 2023, existing Power Digital and prospective clients will have access to the nova Intelligence modules and insights.
Tealium partners with world’s biggest media players
SAN DIEGO — Tealium, an independent and most trusted customer data platform (CDP), has launched new first-party data activation capabilities with the world’s biggest media players, including Meta, Snap, TikTok, Twitter, Pinterest, Spotify, and Google. Tealium’s industry-leading customer data solutions integrated with these elite media platforms’ Conversions API abilities allow brands to more effectively restore signals and better connect with their customers. Register for Tealium’s three-day virtual 2023 Partner Showcase from Aug. 1-3 to hear more success stories and invaluable insights from the company’s partner network.
National Frozen & Refrigerated Foods Convention coming Oct. 7-10
SAN DIEGO — The stage is set for the 2023 NFRA Convention, scheduled to take place Oct. 7-10, 2023, at the Marriot Marquis & Marina in San Diego. Renowned as the premier event of the frozen and refrigerated foods industry and hosted by the National Frozen & Refrigerated Foods Association (NFRA), the convention offers unparalleled opportunities for attendees to foster business growth, forge key partnerships and explore exciting product innovations. Bringing together leading companies from every sector of the industry, the NFRA Convention offers a dynamic platform where business can be conducted efficiently, all under one roof
Illumina and Pillar Biosciences partner to improve access to cancer treatment
SAN DIEGO — Illumina Inc., a global leader in DNA sequencing and array-based technologies, and Pillar Biosciences Inc., the pioneers of Decision Medicine, announced a strategic partnership to make Pillar’s suite of oncology assays commercially available globally as part of the Illumina portfolio of oncology products. The agreement will result in an unprecedented offering of complementary next-generation sequencing solutions that will enhance the efficiency, accuracy, and cost-effectiveness of oncology testing.
Wildfire Systems launches Revenue Engine
SAN DIEGO — Wildfire Systems Inc., an innovative technology platform that powers reward programs, shopping companions, and content monetization launched RevenueEngine, the industry’s first solution for monetizing ecommerce transactions driven by generative AI-powered applications, plugins, and products. RevenueEngine turns AI-created product recommendations from general and specialized chatbots, predictive text, or other software that generates or enhances content into monetized, revenue-driving ecommerce links to nearly 60,000 online merchant programs around the world.
Society introduces the Protecting Innovation in Rare Cancers Coalition
SAN DIEGO — CLL Society, a leading authority for chronic lymphocytic leukemia and small lymphocytic lymphoma patients, announced the formation of the Protecting Innovation in Rare Cancers (PIRC) Coalition. PIRC is a collaborative, multi-stakeholder, patient advocacy group that aims to implement the “wins” achieved by CLL Society and others in the cancer community to reduce out-of-pocket costs while addressing growing concerns surrounding the implementation of the Inflation Reduction Act (IRA) by the Centers for Medicare & Medicaid Services (CMS).
Tension Packaging & Automation to debut its workflow software system
SAN DIEGO — Tension Packaging & Automation, a leader in packaging automation solutions for both eCommerce and pharmacy automation fulfillment operations, announced plans to debut its new innovative workflow management system for pharmacies in its booth #1443 at the National Association of Chain Drug Stores Total Store Expo 2023. NACDS 2023 will be held Aug. 13-14 at the San Diego Convention Center. It is the largest gathering of retailers and suppliers in the health and wellness industry, and this year marks the 90th year celebration of NACDS.
