Daily Business Report: Dec. 7, 2023
California to receive $6 billion federal
investment for high-speed rail
The Biden-Harris Administration is awarding $6 billion to California to build high-speed rail, investing in the whole system – San Francisco, Los Angeles and the Central Valley, creating connectivity north, south and with our neighbors to the east.
California High-Speed Rail Authority will receive nearly $3.1 billion for construction in the Central Valley, supporting the overall end goal of connecting San Francisco to Los Angeles. Another important rail project, Brightline, will receive $3 billion to connect Los Angeles to Las Vegas with 80 percent of the project’s construction in California benefiting the state’s economy and labor market.
“California is delivering on the first 220-mph, electric high-speed rail project in the nation,” said Gov. Gavin Newsom. “This show of support from the Biden-Harris Administration is a vote of confidence in today’s vision and comes at a critical turning point, providing the project new momentum.”
The $3.1 billion for California High-Speed Rail Authority is the single largest grant for the program and comes from President Biden’s historic Infrastructure Investment and Jobs Act.
Photo: The money for the Brightline high-speed rail project would connect Los Angeles to Las Vegas.
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Oxford Properties breaks ground on expansion
of Ionis Pharmaceuticals’ Carlsbad campus
Oxford Properties Group, a leading global real estate investor, developer and manager has officially broken ground on a 165,000-square-foot expansion of Ionis Pharmaceuticals’ main life sciences campus. Located in Carlsbad, Ionis’ existing campus features approximately 250,000 square feet of lab and office space. The expansion builds on Oxford and Ionis’ established partnership, with Oxford completing a purchase and long-term lease back of Ionis’ existing campus in October 2022.
Oxford entered the San Diego life sciences market in February 2022 via a $464 million acquisition of a 13-building portfolio. Oxford’s San Diego life sciences portfolio currently comprises more than 900,000 square feet, which will increase to over 1.3 million square feet upon completion of its development pipeline in market.
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Viasat and Skylo Technologies launch
first global direct-to-device network
Viasat Inc., a global leader in satellite communications, and Skylo Technologies, the leading non-terrestrial network service provider, announced the launch of the world’s first global direct-to-device (D2D) network. The companies’ global infrastructure agreement will, for the first time, allow Mobile Network Operators (MNOs), device makers and chipset manufacturers to take 3GPPRelease 17 compliant products to market, within Viasat’s global network coverage.
Combining Skylo’s industry-first Release-17-based satellite technology with Viasat’s geostationary, L-band satellite constellation and licensed spectrum holdings (through its subsidiary, Inmarsat), as well as those of other satellite operator partners, the new network will support consumer smartphone services and unlock the potential for massive Internet of Things (IoT), automotive and defense applications.
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Cal State San Marcos to hold first
fall commencement in its history
Cal State San Marcos will become the first public university in San Diego County to hold a fall commencement when it celebrates its mid-year graduates this month. CSUSM will host its inaugural fall commencement on Sunday, Dec. 17, in The Sports Center on campus. A total of 533 students are expected to graduate across three ceremonies, and more than 4,000 guests have registered to attend.
CSUSM has instituted fall commencement to offer students who are graduating in December the opportunity to celebrate their accomplishments with their families without having to wait until spring. Each of the three ceremonies will be streamed live on the CSUSM commencement website and mobile app to allow viewing by family members and friends who can’t attend.
More information on CSUSM’s commencement ceremonies is available online.
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MiraCosta College receives double
recognition for the environment
The California Community Colleges Board of Governors has awarded MiraCosta College the 2023 Energy and Sustainability Award for a middle size college — a testament to its dedication in combating climate change in alignment with the Vision 2030 strategic plan.
Simultaneously, the colleg was honored as the Olivenhain Municipal Water District’s Customer of the Year, acknowledging its contribution to sustainable water management.
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How drugs can target the thick ‘scar tissue’ of pancreatic cancer
Pancreatic cancer is one of the deadliest cancers — only about one in eight patients survives five years after diagnosis. Those dismal statistics are in part due to the thick, nearly impenetrable wall of fibrosis, or scar tissue, that surrounds most pancreatic tumors and makes it hard for drugs to access and destroy the cancer cells.
Now, researchers at the Salk Institute have discovered how a class of anti-cancer drugs called HDAC inhibitors can help treat pancreatic cancer by modulating the activation of fibroblasts—the cells that make up that wall of scar tissue.
The new research was published in Nature Communications on Dec. 6, 2023.
“These drugs turn out to be hitting both the tumor itself as well as the fibrotic tissue around it. This could be a very effective way to treat pancreatic cancers, which have typically been very difficult to reach,” says senior author Professor Ronald Evans, director of Salk’s Gene Expression Laboratory and March of Dimes Chair in Molecular and Developmental Biology.
Intersolar North America and Energy Storage
North America announce lineup for 2024 Solar Games
Intersolar North America and Energy Storage North America, the industry’s flagship solar-storage event, unveiled the team lineup for the 2024 Solar Games competition taking plade Jan. 17-19, 2024, at the San Diego Convention Center. One of the participating teams is Aloha Solar Power of Encinitas, 2023 Solar Games champions. The winning team will be awarded a $10,000 cash prize.
New report reveals vulnerability in marketing
Team Lewis, the global marketing agency, launched its 6th annual Global Marketing Engagement Index. The report analyzes the top 300 companies from the Forbes Global 2000 list using a proprietary methodology, the Marketing Engagement Tracker (MET). This study looks at how effectively the top brands are connecting with their audiences. Since it was launched in 2017, the MET has reported some clear and positive trends.
Abzena partners with ProteoNic
Abzena, the leading end-to-end bioconjugate and complex biologics CDMO has announced a partnership with ProteoNic Biosciences BV, to license their premium protein expression technology, 2G UNic. This state-of-the-art vector technology will significantly improve the production of high-yielding CHO cell lines for Abzena’s customers. Under the agreement, Abzena gains worldwide, non-exclusive commercial rights for the application of ProteoNic’s 2G UNic premium vector technology.
Adcentrx announces extension of Series A+ financing
Adcentrx Therapeutics, a biotechnology company dedicated to revolutionizing Antibody-Drug Conjugate (ADC) therapeutics for cancer and other life-threatening diseases announced the extension of its Series A+ financing. The additional $13 million adds to the $38 million Series A+ round that was closed in April 2023. The Series A+ extension included participation from Quan Capital and Partners Investment.
Neurocrine Biosciences receives Breakthrough Therapy designation
Neurocrine Biosciences Inc. announced it received Breakthrough Therapy designation from the U.S. Food and Drug Administration (FDA) for crinecerfont in congenital adrenal hyperplasia. The company also provided updates on its R&D portfolio and strategy at its Analyst Day, held in New York. The company remains on-track to advance two gene therapies into the clinic in 2025, and anticipates at least 20 development candidates by 2027.
Medcrypt welcomes Taylor Lehmann to board of directors
Medcrypt Inc., the proactive cybersecurity solution provider for medical device manufacturers (MDMs), announced the addition of Taylor Lehmann to its board of directors. Lehmann brings over 20 years of experience in health care cybersecurity, holding various roles at Google and Athena Health and a board member seat for the Health-ISAC. In this capacity, Taylor will play a pivotal role in supporting Medcrypt’s governance efforts.
Free earthquake preparedness workshop set for Dec. 13
FEMA, San Diego County Office of Emergency Services, and the nonprofit Federal Alliance for Safe Homes announced that registration is open for the free QuakeSmart Preparedness Workshop on Dec. 13, 9 a.m. to 3 p.m., at the Omni San Diego Hotel, 675 L St. in San Diego. The workshop is tailored for building officials, businesses, corporations, engineers, emergency managers, home builders, manufacturers, nonprofits, policymakers, public officials, risk managers, and small businesses.
Unifi Aviation’s JJ Hernandez presented Unsung Hero Award
Unifi Aviation announced that JJ Hernandez, general manager of ramp operations for Unifi at San Diego International Airport, has been awarded the esteemed “Unsung Hero Award. While serving as station manager, Hernandez lost most of his eyesight. When he stepped away from the role as a result, the station struggled without his leadership. Hernandez returned, and despite his setback, turned the station around and grew operations for the customer from 30 flights a day to 65 flights a day.
Trauma therapy legacies come together for five-day event
ERGOS Institute of Somatic Education and The Embody Lab present the first Somatic Trauma Healing Immersion for a transformative journey of healing and empowerment. Live in San Diego beginning Thursday, Feb. 29 through Monday, March 4, 2024, this in-person and live-streamed event will include world leaders in somatic approaches to healing trauma, including Dr. Gabor Maté, Bessel van der Kolk, Dr. Peter A Levine, Dr. Scott Lyons, and more.
Biotone introduces new Plant Plus Massage Lotion
Biotone Professional Massage and Spa Therapy Products has introduced Plant Plus Massage Lotion. The new plant-based lotion is specifically formulated for therapiss who want products that meet the emerging clean standards being advanced by environmentally conscious groups. Plant Plus Massage Lotion features the gentlest plant extracts and a new environmentally clean and gentle preservative blend. Earth-loving sunflower oil provides long-lasting workability.