Daily Business Report: July 15, 2024
UC San Diego welcomes Comic-Con
with starpower — and stellar storytelling
By Leslie Sepuka | UC San Diego
What do you get when you combine a world-class university, a premier popular arts convention and a renowned science fiction and fantasy writers’ workshop? The answer is “The Science of Story,” an exciting six-day journey into the realm of storytelling hosted by UC San Diego and headlined by Star Trek stars George Takei and John Cho. The event, which ushers in Comic-Con, also features access to the exclusive Clarion Science Fiction Writing Workshop.
“At the heart of ‘The Science of Story’ is the understanding that narratives have the power to create vibrant connections across disciplines through shared experiences,” said Colleen Kollar Smith, executive director of the Campus Performance and Events Office. “UC San Diego is uniquely positioned to present and explore the intersection of art and science, fostering conversations that resonate deeply within our society. This is especially evident during the week of Comic-Con, where the convergence of creativity, innovation and dialogue truly exemplifies the dynamic spirit of our community.”
The festivities kick off Tuesday, July 23, with A Tale of Two Sulus: An Evening with George Takei and John Cho. These icons of sci-fi will share their experiences playing the groundbreaking role of Lieutenant Sulu on Star Trek, along with their writing, graphic novels and inspiring advocacy work. The event is a must-attend for fans and writers alike, providing a rare opportunity to gain insight into the multifaceted talents and passions of these beloved actors.
Top Photo: Icons of sci-fi, George Takei and John Cho, will share their experiences playing the groundbreaking role of Lieutenant Sulu on Star Trek.
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Wage theft whack-a-mole: California workers
win judgments against bosses but still don’t get paid
By Jeanne Kuang and Alejandro Lazo | CalMatters
Five years after workers win wage theft claims, state records show only 1 in 7 were paid their judgments in full. Some companies appealed or ignored court judgments. Manuel
Chavez, a former front-desk manager at the Stuart Hotel in Los Angeles’ MacArthur Park neighborhood, was elated when he won a wage claim victory of more than $200,000 against his old boss in 2017. California’s Labor Commissioner ruled Chavez had worked thousands more hours than his employer paid him for over a three-year period — a clear case of wage theft, the state decided after administrative hearings.
“I felt good, very content, after so much work and so much suffering,” Chavez said about his case.
Rather than paying Chavez, his former employer countersued, taking the case to appeals courts multiple times and trying and failing to get it heard by the U.S. Supreme Court — twice.
Chavez hasn’t been compensated.
His experience may be unusual, but it underscores a plight common for thousands of California workers who win wage theft claims: Many bosses don’t pay, even after courts order them to.
Only 1 in 7 employers who were issued court judgments in wage claim cases in 2017 have paid their workers the full amount of the claims five years later, according to data from the Labor Commissioner.
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Westfield UTC shopping center opens four
shopping and dining experiences
Bi Shi Bradley | Times of San Diego
Westfield UTC, an outdoor shopping center in University City near UC San Diego, announced four new openings this month to add to its portfolio of fashion boutiques, restaurants and wellness locations.
New additions to the center include Venchi, a dessert shop; PAIGE, a modern boutique; Studs, a piercing shop, and new menu additions to Lucrezia, an Italian restaurant located in the center.
“Westfield UTC continues to curate a collection of exceptional brands that resonate with our discerning shoppers,” Ryan Perry, Sr., the general manager of Westfield UTC, said.
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Alexandria Real Estate Equities lands anchor tenant
Veteran life science real estate developer Alexandria Real Estate Equities has secured a pharmaceutical giant as its anchor tenant for a newly constructed building in Sorrento Mesa.
The firm announced that an unnamed, high-credit tenant signed a 10-year lease for 127,382 square feet of space at 10075 Barnes Canyon Road. The single-building project, which is nearing completion, is part of Alexandria’s sprawling, 43-acre SD Tech campus east of Interstate 805 and north of Mira Mesa Boulevard.
The Barnes Canyon project’s anchor tenant is described as a “top 20 pharmaceutical company,” and is expanding its San Diego footprint by nearly 53 percent, according to a news release issued by Alexandria.
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Eli Lilli acquires Radionetrics Oncology for $1 billion
SAN DIEGO — Further expanding its footprint in San Diego, Eli Lilly & Co. has acquired San Diego-based Radionetrics Oncology for $1 billion. The exclusive rights agreement includes $140 million upfront to advance clinical work in radiopharmaceutical nonpeptide therapeutics for rare endocrine diseases and related tumors. With this acquisition, Eli Lilly furthers its commitment to radiopharmaceutica therapies and fighting cancer.
Element Biosciences secures more than $277 million in Series D funding
SAN DIEGO — Local genomics startup Element Biosciences, which develops geneti analysis technology, secured more than $227 million in Series D investment, bringing its total financing to $680 million since launch in 2017. The female-founded company will use the funding o further the commercialization of its Aviti benchtop genomic analyzer, drve the upcoming launch of its next-generation Aviti24 system, and support its growing customer base.
Athletic Brewing raises more than $50 million in equity financing
SAN DIEGO — Following its recent purchase of a 107,000 square foot manufacturing facility in Mira Mesa, leading nonalcoholic brewer Athletic Brewing has raised an additional $50 million in funding. Valued at $800 million and representing more than 19 percent of nonalcoholic beer market share, the San Diego company will use the funding to expand production capacity to meet rising demand.
Salk receives $20 million from European foundation NOMIS
LA JOLLA—The Salk Institute will receive $20 million over four years from the NOMIS Foundation to launch a new Neuroimmunology Initiative within the Institute’s NOMIS Center for Immunobiology and Microbial Pathogenesis. By funding research programs, faculty recruitment, and pilot grants, the generous gift will enable Salk scientists to develop a deep understanding of the crosstalk between the immune and nervous systems and the role it plays in health and disease.
Apartment property sells for $1.9 million
SAN DIEGO — Marcus & Millichap, a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the sale of a six-unit apartment property located in San Diego. The asset sold for $1,900,000.The property is located at 2030 Kearney Ave. The residence features a mix of four charming one-bedroom, one-bath units, and two spacious two-bedroom, one-bath units, embracing contemporary design.“This high cash-flowing property is a turn-key opportunity for the buyer, featuring upgraded amenities that redefine the essence of urban living,” said Aaron Bove, senior managing director investments in Marcus & Millichap’s San Diego Del Mar office.
CaliBagels launches OLD BAY seasoned bagel chips
SAN DIEGO — CaliBagels— the San Diego-based, bagel company — teams up with the iconic seafood seasoning brand, OLD BAY, to launch OLD BAY Bagel Chips. The collaboration pairs together the time-honored, internationally known flavor of OLD BAY seasoning with CaliBagels’ craveable bagel chips. “Offering consumers our unique bagel chip seasoned with OLD BAY made perfect sense,” said Phil Gorman, CaliBagels founder, Baltimore native andcurrent San Diego resident. “Bringing the fanaticism around the iconic seafood seasoning brand to snackers around the country is incredibly exciting for our team.”
Cetera Financial welcomes father-daughter to Summit Financial Networks
SAN DIEGO — Cetera Financial Group announced that a nine-person team doing business as Rally Wealth and Benefits has joined Summit Financial Networks. The firm, led by President Brue Glenn and his daughter, Managing Partner Kristina Strickland, provides comprehensive financial planning and investment advice to clients and had more than $325 million in assets under administration as of March 1, 2024. Glenn and Strickland have a combined 26 years of industry experience. Glenn holds his Series 6, Series 7, Series 24, Series 63 and Series 66 registrations. Meanwhile, Strickland holds her Series 6, Series 63 and Series 65 registrations as well as her CPFA designation.
Fulcrum displays commitment to GIS technoloy sector at Esri User Conference
SAN DIEGO — Fulcrum, an industry-leading platform for geospatial field data collection and process management, is proudly displaying its commitments to the GIS technology sector at the Esri User Conference 2024. Highlights include the company’s longstanding involvement in field-based data collection and process management, recent dramatic enhancements in platform capabilities, and its new attainment of Silver Partner within the Esri Partner Network. For over a decade, Fulcrum has been integrating with Esri as its clients leveraged Fulcrum’s cutting-edge data collection capabilities.
Sanyo Bio and BioGeometry join forces
BioGeometry and Sanyou Bio jointly announced the signing of a strategic partnership agreement. BioGeometry is a digital biology pioneer company that specializes in AI-driven protein design and R&D platform. Sanyou Bio is a world-leading high-tech biotechnology enterprise focusing on R&D and services of innovative biologic drugs. As a leading AI-driven protein design enterprise, BioGeometry has developed atomic-level geometric deep learning models which learn from massive data to effectively save the time and costs in antibody design, improve economic efficiency and success rates.
PetDesk unites with Veterinary Management Groups
SAN DIEGO — PetDesk, a leader in veterinary communication and workflow solutions, is excited to announce a strategic partnership with Veterinary Management Groups (VMG). This collaboration will bring PetDesk’s innovative technology to VMG’s dedicated members, enhancing the efficiency and effectiveness of independent veterinary practices nationwide.
PetDesk has evolved through the strategic acquisitions of Vetstoria, WhiskerCloud, and Kontak, each bringing their unique strengths to the table.
Allia International University launches new nurse executive program
Alliant International University’s School of Nursing & Health Sciences has announced the launch of the new Master of Science in Nursing, Nurse Executive (MSN Nurse Executive program. As the healthcare landscape shifts, Alliant’s forward-thinking approach caters to aspiring nurse leaders eager to bridge the impending leadership gap as many nurse execs, primarily from the by boomer generation, approach retirement. Delivered online, the program welcomes students from California, Arizona, Texas, and Colorado. Tailored to align with the American Association of Colleges of Nursing (AACN) New Essentials for Advanced-Level Nursing Education and the American Organization of Nurse Leaders (AONL) Nurse Leader Competencies, the course content is both robust and relevant.
Ubilite hires new chief administrative officer
Ubilite Inc. (“Ubilite”) announced Martin “Marty” McDermut as the company’s new chief financial officer effective July 8, 2024. McDermut will report to CEO Peter Gammel and will be responsible for Ubilite’s corporate finance, accounting and administrative functions.
McDermut, with more than 30 years of broad financial leadership, has a strong track record in strategic and financial planning, business development, mergers and acquisitions, and public equity markets for technology companies
