Daily Business Report: June 14, 2024
What the Supreme Court ruling on abortion
pill means for access in California
By Kristen Hwang | CalMatters
Medication abortion will remain widely available to Californians after the U.S. Supreme Court rejected a bid by anti-abortion groups and doctors to challenge the Food and Drug Administration’s approval of the drug.
In a unanimous vote, the high court Thursday said plaintiffs did not have standing to claim the FDA had inappropriately expanded access to mifepristone, also known as the abortion pill. In doing so, justices upheld FDA regulations allowing clinicians to prescribe the pill via telehealth appointment and mail order delivery of the drug.
“Specifically, FDA’s regulations apply to doctors prescribing mifepristone and to pregnant women taking mifepristone. But the plaintiff doctors and medical associations do not prescribe or use mifepristone. And FDA has not required the plaintiffs to do anything or to refrain from doing anything,” Justice Brett Kavanaugh wrote.
The Alliance for Hippocratic Medicine, a group representing doctors and others opposed to abortion, had argued that relaxed mifepristone regulations could cause doctors with moral or religious objections to treat patients arriving at the emergency room with complications related to taking the pill. The ruling stated that federal law already provides comprehensive protections for clinicians who object to performing abortions.
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Parabilis Space Technologies
wins Space Force contract
Parabilis Space Technologies, Inc. in San Marcos has been awarded a contract by the Space Enterprise Consortium to develop a high-impulse Dense Orbital Transfer System (DOTS) for the U.S. Space Force. This innovative propulsion system will enable CubeSats to perform diverse orbital maneuvers cost-effectively.
Leveraging their expertise in hybrid rocket motors, Parabilis’ system uses both solid fuel and a liquid/gas oxidizer, offering lower risk and operational costs compared to traditional propulsion systems.
Parabilis CEO Dave Streich stated, “The capabilities of Nanosats and Microsats have expanded exponentially in recent years, but their mission envelopes have been constrained by a lack of high-performance, reliable, affordable propulsion. DOTS will change that.”
DOTS Program Manager Greg Berg stated, “This propulsion solution uses safe propellants, can be launched unpressurized, and provides significantly higher thrust than current CubeSat propulsion systems. DOTS can be a game changer for future CubeSat missions.”
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Brixton Capital acquires mixed-use property in upscale Del Mar
Brixton Capital, a privately held real estate investment firm, has acquired Polo Plaza, a 63,629-square-foot, two-building, mixed-use property in Del Mar, for $18.5 million. The property was purchaed from Dallas-based Lincoln Property Company and Washington, D.C.-based ASB Investment Management. Brixton plans to improve the façade and common areas at Polo Plaza and lease the remaining 30 percent of space. Notable tenants include Berkshire Hathaway, Coldwell Banker Commercial and Market Restaurant + Bar, which is helmed byu celebrity chef Carl Schroeder.
The property includes 180 parking stalls, with 43 garage stalls. Nearby amenities include Flowerhill Promenade, Del Mar Plaza, Del Mar Fairgrounds and two country clubs.
Rick Reeder of Newmark represented the sellers, while Brixton Capital represented itself.
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Father Joe’s to replace 350-bed shelter with detox facility
By Lisa Halverstadt | Voice of San Diego
Father Joe’s Village’s Paul Mirabile Center has for years sheltered up to 350 homeless San Diegans each night. Now, the nonprofit is preparing to step away from the city shelter contract it has held for the East Village facility for nearly a decade and instead offer detox and sober living beds backed by private donors.
The shift is expected to simultaneously supply 45 sorely needed detox beds for patients with Medi-Cal insurance who now can rarely access those services on demand and reduce the roster of city-funded shelter beds. Father Joe’s does, however, expect to provide at least 250 shelter beds in what it’s dubbing a new sober and recovery shelter for homeless San Diegans.
If Father Joe’s can pull together private funding and state approvals needed to open the detox facility as swiftly as it hopes, it could increase the region’s share of detox beds serving Medi-Cal patients by 58 percent by sometime next year – and even more dramatically increase resources in the city.
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Drata announces winners of the 2024 Customer Excellence Awards
Drata, the leading continuous security and compliance automation platform, announced the winners of its Customer Excellence Awards at the company’s annual user conference, Drataverse, at Pier 27 in San Francisco. The award recognizes organizations that are setting the benchmark for continuous compliance and displaying an outstanding commitment to a strong security posture. Five winners were chosen. They are: Metadata, Sign In Solutions, Wiz, Abnormal Security, and WorkRamp. For details, click here
Pitaya Foods debuts ‘Bite into Bright’ campaign
Pitaya Foods, an original leader in the frozen fruit category, launches “Bite into Bright,” its inaugural national media and advertising campaign, supported by the continued growth as the #2 brand in the 12-14 oz frozen fruit category. This significant milestone is coupled by the latest debut of Pitaya Foods’ line of Functional Smoothie Bowls. These nutrient-rich bowls are ready-to-eat straight out of the freezer and packed with health-boosting benefits, available in five delicious varieties: Clarity, Immunity, Energy, Inner Health, and Recover.
Chopra Foundation and Human Longevity announce partnership
The Chopra Foundation and Human Longevity Inc. (HLI) announced a groundbreaking partnership to combine their complementary approaches to promoting longevity and holistic well-being. Human Longevity was co-founded in 2013 by J Craig Venter, PhD, a pioneer in the sequencing of the first human genome as well as precision medicine. Founded by Deepak Chopra, MD, a renowned pioneer in integrative medicine, the Chopra Foundation is dedicated to cultivating spiritual knowledge, expanding consciousness, and improving global health through initiatives focused on mind/body healing practices.
SeaWorld and Coca-Cola celebrates SeaWorld’s 60th anniversary
Coca-Cola is toasting SeaWorld’s 60th anniversary by partnering with the parks to host “Celebration Sundays,” featuring free beverage sampling for all guests and exclusive, limited-edition co-branded merchandise giveaways for pass members, while supplies last. The events kick-off on Sunday, June 16 and will continue on the third Sunday of each month through the end of the year. Each month’s merchandise giveaway will be a new collectible item that will be announced prior to that month’s event. June’s giveaway is a 20-ounce Bottle Holder to keep beverages cool all day while exploring “So Much More to Sea” at SeaWorld.
Acute treatment of migraine to be presented at AHS Annual Scientific Meeting
Satsuma Pharmaceuticals, Inc., a late-stage biopharmaceutical company currently seeking regulatory approval from the U.S. Food and Drug Administration for STS101 (dihydroergotamine (DHE) nasal powder), a novel investigational therapeutic product candidate for the acute treatment of migraine, and its corporate parent, Shin Nippon Biomedical Laboratories, Ltd. (TSE:2395), announced that five abstracts describing efficacy and safety results from the STS101 Phase 3 clinical study program were selected for presentation at the American Headache Society’s (AHS) 66th Annual Scientific Meeting June 16 at the Marriott Marquis San Diego Marina, San Diego, from Thursday, June 13 to Sunday, June 16, 2024,
Alaska Airlines now flies nonstop between Anchorage and New Your City
Just as the long days of summer have engulfed the state of Alaska, Alaska Airlines launched seasonal nonstop service today between Anchorage and New York JFK. It’s the only nonstop service between the two airports. Flights are available for purchase at alaskaair.com for daily flights through Aug. 19. The new nonstop between the Big Apple and the Great Land offers New Yorkers an easier option to get away and enjoy the wilds of Alaska with its countless outdoor adventures, rich Alaska Native culture, wild Alaska seafood, jaw-dropping scenery and history-filled towns.
Penetrex provides mess-free muscle relief for an active summer
Common injuries such as stress fract ures, tennis elbow and swimmer’s shoulder prevent many from enjoying summer to the fullest. An industry leader in joint and muscle relief, Penetrex allows outdoor enthusiasts and sports players to get back to doing the things they love sooner, trusted by over 2 million users. Penetrex Joint & Music Therapy Gel is an easy-to-use roll-on that works perfectly for post-workouts, hikes, swims, runs and any exercise or sport. It is a top choice among active and athletic people on the go who enjoy its non-greasy, non-sticky formula applied directly to the body.
Avidity Biosciences Inc. announces proposed public offering
Avidity Biosciences, Inc., a biopharmaceutical company committed to delivering a new class of RNA therapeutics called Antibody Oligonucleotide Conjugates (AOCs), announced that it intends to offer and sell, subject to market and other conditions, $300 million of shares of its common stock in an underwritten public offering. In addition, Avidity intends to grant the underwriters a 30-day option to purchase up to an additional $45. million of shares of common stock. All of the shares to be sold in the offering are to be sold by Avidity. There can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.
H2O Audio partners with Paralympic medalist Jamal Hill
H2O Audio, the leader in waterproof audio technology, proudly announces a strategic partnership with Jamal Hill, the inspirational Team USA Paralympic swimmer and Tokyo 2020 medalist. The collaboration combines H2O Audio’s innovative technology with Hill’s moving story and dedication to swim education through his Swim Up Hill Foundation. In addition to serving as a brand ambassador, Hill will lend his insights to enhance H2O Audio’s award-winning waterproof audio solutions. The partnership will also feature co-promotions across various platforms, including social media, online advertising, and product packaging.
Alida Biosciences announces Series A funding
Alida Biosciences, an innovator in epigenomic research tools, announces the successful completion of a $7.5 million Series A funding round. This funding, led by Genoa Ventures with participation from FusionX Ventures and Vertical Venture Partners, is complemented by two ongoing SBIR grants totaling $4 million from The National Human Genome Research Institute. Additionally, AlidaBio unveils the Early Access launch of two products: the EpiPlex RNA Library Prep Kit and the EpiScout Analysis Suite. These products provide a comprehensive solution for multiplexed epitranscriptomic analysis of input-limited clinical research RNA samples, offering unprecedented sensitivity and accuracy.
