Daily Business Report: February 15, 2024
Stage is set for largest
Veterans Park on the West Coast
As part of the Port of San Diego and USS Midway Museum’s Freedom Park project, the Board of Port Commissioners has approved a proclamation of intention to designate nearly 10 acres of the Embarcadero as Freedom Park upon the transformation of Navy Pier into a park. Freedom Park is anticipated to open in 2028.
Beginning at the west end of Navy Pier and going around the Midway to the Bob Hope Memorial, Freedom Park will celebrate the region’s military history and tell the story of everyday heroes who served our country and preserved our freedoms. It will provide visitors with unique experiences on the waterfront with numerous public amenities, including a nature garden, memorials and monuments, play structures, seating and shading, and interpretive signage.
The preliminary estimated cost for completion of Freedom Park at Navy Pier, which includes the headhouse demolition and structural improvements is currently approximately $65 million.
Freedom Park at Navy Pier will be the largest veterans park on the West Coast.
Top Photo: Conceptual rendering of Freedom Park. (Courtesy: USS Midway Museum)
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SDSU report calls Tijuana River contamination a public health crisis
A new report released Tuesday and written by researchers at San Diego State University calls the Tijuana River a “public health crisis,” citing broad evidence of unhealthy conditions from untreated sewage to industrial waste.
Authors synthesize multiple studies that have documented pollution over the years, leading with a recent paper that documented that the threat also extends to ocean-going mammals. Bottle nose dolphins stranded in San Diego died from infection by a bacteria “generally transmitted through contact with feces or urine in contaminated water, food or soil.”
The document is not peer-reviewed research, but rather a white paper designed to help make the argument that more should be done to address long-standing environmental concerns that are exacerbated every time it rains.
California acquires, begins retrofitting seven
new C-130 aircraft to expand firefighting fleet
California is further expanding and upgrading its nation-leading firefighting fleet with seven new C-130H aircraft to protect people from wildfires, with the first of these planes expected to begin operations in the fall.
President Biden signed the National Defense Authorization Act which authorized the official transfer of seven C-130H aircraft from the United States Coast Guard to CAL FIRE. This finishes the partnership which was started by the late Sen. Dianne Feinstein and continued in recent months by Sen. Alex Padilla and other California leaders.
CAL FIRE plans to strategically deploy five C-130Hs to air attack bases in Chico, Fresno, Paso Robles, Ramona, and Sacramento, with two additional aircraft for surge capacity and maintaining response capabilities during mandatory maintenance cycles.
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UCSD graduate earns astronaut wings and
could be named to NASA’s lunar missions
UC San Diego graduate Deniz Burnham has finished two years of basic training as a NASA astronaut and will soon become eligible for spaceflight.
Burnham is one oDenf 10 astronauts who successfully completed the program and will earn their wings. The space agency says it could select these graduates for missions to the moon, and possibly Mars, as well as future commercial space destinations.
Two astronauts from the United Arab Emirates also completed the NASA program.
Burnham, 38, earned a bachelor’s degree in chemical engineering at UCSD in 2007 and a master’s degree in mechanical engineering at the University of Southern California in 2017.
She is the latest in a long line of people at UCSD with ties to the space program.
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With the help of naked mole rats, Xiao Tian seeks
to expose and explain the epigenetic drivers of age
Getting older is inevitable, but aging may be optional, or at least a treatable condition. Increasingly, researchers are parsing the particulars of aging, the ways in which the human body becomes less healthy over time. That research spans measuring declines in cognitive and sensory capabilities to identifying relevant changes in cellular and molecular functions.
Among the scientists looking for the secrets of aging is Xiao Tian, who recently joined Sanford Burnham Prebys as an assistant professor in the Degenerative Diseases Program. Tian’s work, which began as a Ph.D. student at the University of Rochester and continued as a postdoctoral researcher at Harvard Medical School, focuses on epigenomic changes and deterioration that influence age-related diseases.
“The epigenome defines the identity and function of a cell by telling the genome what to do and when and where to do it. It regulates the genome function of a cell similarly to how software regulates the hardware of a computer,” said Tian.
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Steel Peak acquires four-building property in El Cajon
Steel Peak, a commercial real estate investment firm focused on industrial outdoor storage (IOS) properties, announced hat it has acquired a four-building, 12,000-square-foot IOS property located on 2.5 acres in El Cajon for $6.3 million. Located at 1324 Magnolia Ave., the firm paid all cash with an institutional equity partner for the property. This newest acquisition is less than 100 yards from another Steel Pek owned IOS facility that is 100 percent leased to a national tenant.
San Diego Restaurant Week opens on March 3
San Diego Restaurant Week, presented by the California Restaurant Association, is set for Sunday, March 3 through Sunday, March 10. This event includes 30-plus neighborhoods, featuring over 100 restaurants. Beyond the exclusive deals and discounts, this culinary celebration transforms into a social experience that brings friends and families together. A full list of participating restaurants can be found at SanDiegoRestaurantWeek.com with new restaurants being added daily.
Kintara Therapeutics starts 15-patient REM-001 clinical trial
Kintara Therapeutics, a biopharmaceutical company focused on the development of new solid tumor cancer therapies, announced the initiation of a REM-001 15-patient clinical trial in cutaneous metastatic breast cancer patients. In June 2023, Kintara was awarded a $2 million Small Business Innovation Research grant from the National Institutes of Health to support the clinical development of REM-001 in CMBC. This grant will cover the majority of the costs to run this clinical study.
VST Bio announces groundbreaking study on stroke
VST Bio Corp. a leader in the development of innovative biologics to treat acute and chronic cardiovascular disease, presented data from a recent large animal study performed by VST Bio and Yale University demonstrating that a single iv bolus of VST-002 led to meaningful reduction in brain damage and improved function in an advanced model of ischemic stroke.
Thinking Nation to present at National Conference on Education
Thinking Nation, a national nonprofit committed to cultivating thoughtful citizens through the promotion of historical thinking in social studies, announced Executive Director Zachary Cote, COO Spenser Mix, Chief Partnership Officer Elizabeth Connolly, and Business Analyst Valentina Carvajal Bueno will present at the National Conference on Education presented by AASA, The School Superintendents Association, on Feb. 14-16 in San Diego.
Axos Bank listed among the ‘Best Business Checking Accounts’
Axos Bank, the nationwide bank subsidiary of Axos Financial Inc., was named in Forbes Advisor’s “Best Business Checking Accounts of February 2024.” Axos ranked in the top banks for Best QuickBooks Compatibility. Forbes Advisor compared 50 checking accounts at 20 banks and credit unions to find the best business checking accounts available. Forbes Advisor also focused on checking accounts that are nationally available to small businesses.
FICO World 2024 to be held in San Diego April 15-18
Global analytics software leader FICO announced that FICO World 2024 will be held in San Diego from April 15-18, 2024. At this event, now in its 48th year, IT and business professionals from over 60 countries will discover how to improve customer loyalty, fight fraud and scams, and compete more effectively using the latest technology for AI-powered decision management. Many of the world’s leading financial institutions will reveal their progress in leading what FICO calls the ”Intelligence Revolution.”
Bristol Myers Squibb and RayzeBio announce
expiration of HSR Act waiting period
Bristol Myers Squibb and RayzeBio Inc. announced the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, or HSR Act, in connection with Bristol Myers Squibb’s previously announced tender offer to acquire all of the outstanding shares of RayzeBio common stock for a purchase price of $62.50 per share in cash, or approximately $4.1 billion. The expiration of the waiting period occurred at 11:59 p.m. EST on Feb. 9, 2024. Expiration of the waiting period satisfies one of the conditions necessary for the consummation of the transaction.
Iambic Therapeutics announces research on NeuralPlexer technology
Iambic Therapeutics, a biotechnology company developing novel therapeutics using its unique generative AI discovery platform, announced the publication of research in Nature Machine Intelligence showing that its NeuralPLexer technology outperforms other state-of-the art systems in predicting the structure of protein-ligand complexes as well as the conformational changes to these structures from the addition of drug molecules.
Clearspeed welcomes government security executive Parker Wise
Clearspeed, a leading provider of AI-powered risk assessment technology for enterprise organizations, announced the appointment of Parker Wise to its advisory board. Parker brings extensive experience in developing and leading national security programs across the globe through his executive roles with the United States Federal Government, where he served for more than 28 years. Parker’s expertise will be instrumental in support of Clearspeed’s growing client base in the government, defense, intelligence, and security sectors.
Hotel del Coronado to open Nobu restaurant
Hotel del Coronado has announced plans to open Nobu at Hotel del Coronado, marking the continued expansion of The Del’s culinary experiences and the newest addition to the world-renowned Japanese restaurant founded by Nobu Matsuhisa and Robert De Niro. The opening of Nobu at Hotel del Coronado in 2025 is part of the last phase of Blackstone’s more than $550 million restoration and revitalization of The Del.