Daily Business Report: Dec. 5, 2024
UC San Diego Awarded $8 Million to Uncover
Genetic Foundations of Substance Use Disorders
By Susanne Clara Bard | UC San Diego
University of California San Diego School of Medicine has received a five-year, $8 million grant from the National Institute on Drug Abuse (NIDA) to study the genetics of substance use disorders. The grant will support a NIDA P30 Core Center of Excellence, which ultimately aims to understand why some people are more susceptible to addiction than others. This knowledge will be instrumental in developing more personalized and effective treatments to address the public health crisis posed by substance use disorders, which affect tens of millions of Americans at an enormous cost to the U.S. economy.
Some people who drink alcohol or try illicit substances become addicted to these drugs, but most do not, according to principal investigator Abraham Palmer, Ph.D., professor and vice chair for basic research in the School of Medicine’s Department of Psychiatry.
“And that vulnerability is partially genetic,” said Palmer. “We’re very interested to know: what are the genetic differences between people who develop substance use disorders and those who do not?”
Top Photo: The human amygdala (pictured in orange) plays an important role in addiction. Researchers at the Center for Genetics, Genomics, and Epigenetics of Substance Use Disorders in Outbred Rats study genes in the amygdalas of heterogeneous stock (HS) rats as a model for understanding why some people are more susceptible to substance use disorders than others.
Plantible Foods raises $30 million in Series B funding
Plantible Foods, a San Diego-based company that produces plant-based proteins for the food industry, has raised $30 million in Series B funding.
The venture capital funding round was co-led by San Francisco-based Piva Capital and Siddhi Capital, a Philadelphia-based growth equity firm actively investing in the food and beverage space.
“At Plantible, we are not simply competing with other proteins; we are setting a new standard for the industry by providing a product that offers superior functional and nutritional properties,” said Tony Martens, Co-founder and CEO of Plantible.
The fresh capital comes roughly three years after it raised a $27 million Series A round. I profiled the under-the-radar food startup in the San Diego Business Journal when it raised a $4.6 million seed round back in 2020.
In October, the Plantible Foods team hosted me back at their headquarters in San Marcos, where the CEO shared what the company is up to next.
Founded in 2016, Plantible Foods mission is to improve the global food supply chain.
Plantible uses its proprietary agricultural platform to produce Rubi Protein, a sustainable protein derived from Lemna (duckweed), which offers superior functional and nutritional benefits compared to traditional proteins.
“We first identified molecules in nature that outperform what we’re using today, from a health and food formulation perspective. Then we figured out the most sustainable and scalable supply chain to produce it,” said CEO Tony Martens.
Today it is working with dozens of food companies, helping them increase product quality and reduce cost within their supply chain.
San Diego ranks among Condé Nast Traveler’s The Best Cities in the United States
The 2024 Readers’ Choice Awards
In tallying up the 575,048 votes cast in our 37th annual Readers’ Choice Awards survey, we were struck by both your eagerness to embrace the new and your reverence for tried-and-true classics.
Several years ago, travelers headed to San Diego might have wondered what they would do in the city, besides hitting the beaches. No longer. With a recent string of hot hotel openings (like the Guild and the Carté) and a legit food scene that offers up some of the best Mexican dishes and seafood platters you’ll ever taste, San Diego has officially stepped out from the shadow of its big sister to the north, earning world-class destination status that goes well beyond the waves. Come for the sunshine, sure; but stay for everything else.
View the Readers’ Choice Award winners for the best cities in the world here.
San Diego City Council approves deal
for city-employee discounts for higher education
By City News Service
The San Diego City Council Tuesday approved agreements with several local higher education institutions to allow city employees new opportunities for career growth and development.
National University, San Diego College of Continuing Education, UC San Diego Division of Extended Studies, and the UCSD Rady School of Management are the city’s new partners for employee education for a five-year term, offering free and discounted tuition, along with education scholarships.
According to the city, National University will continue its 10-year partnership in which employees can receive a 25% discount on tuition for associate and bachelor’s degrees and 15% off doctoral programs. The partnerships include 10%-15% off UCSD extension programs and five fellowships annually to the Rady School. Scholarships will be available for National University and UCSD extension programs each year. San Diego College of Continuing Education will offer free tuition to city employees.
The partnerships come at no cost to the city and will be available immediately.
USD celebrates 75th anniversary and $75M record donation for STEM programs
Philanthropist and Chair Emerita at USD Darlene Marcos Shiley announced a record $75 million donation during the university’s 75-year legacy celebration. This gift will primarily fund the Shiley STEM initiative, focused on expanding the university’s 16 STEM programs through the Shiley-Marcos School of Engineering and College of Arts and Sciences.
Dexcom announces OURA partnership, $75M Series D funding
San Diego-based glucose biosensing leader Dexcom announced a strategic partnership with ŌURA, a smart health tracker ring creator, and a $75 million Series D investment. The partnership will enable cross-program and cross-product integrations between Dexcom Biosensors, the Dexcom app, Oura ring, and the Oura app. The funds will be used to support ŌURA’s growing commercial demand.
Local leaders honored by Regional Task Force on Homelessness
The Regional Task Force on Homelessness is honoring four local leaders with Lifetime Achievement Awards for the endless contributions they made over the years to help combat homelessness. They are Paul Downey – president/CEO, Serving Seniors; Michael Hopkins – CEO, Jewish Family Service of San Diego; Barbara Jiménez – COO, County of San Diego’s Health and Human Services; and leader of county’s Department of Homeless Solutions & Equitable Communities. Laura Tancredi-Baese – CEO, Home Start.
Swiss drugmaker Novartis acquires Kate Therapeutics
Novartis has acquired Sorrento Valley’s Kate Therapeutics for $1.1 billion to get ahead of the rising interest in muscular dystrophies in the pharmaceutical industry. The Swiss pharmaceutical giant, with experience in spinal muscular atrophy and gene therapy, will bolster Kate’s DELIVER platform and preclinical programs aimed at Duchenne muscular atrophy.
San Diego FC Announces Partnership with Sycuan Casino Resort
San Diego FC announced a multi-year partnership with Sycuan Casino Resort as the Club’s Founding Chrome Club Partner and Official Tribal Gaming Partner. As part of the “Chrome Club” family of founding partners, this sponsorship includes elements exclusive to Sycuan Casino Resort, with the goal of enhancing the San Diego FC experience and bringing fans closer to the action. Through this partnership, San Diego FC and Sycuan will deepen their shared commitment to the local community, leveraging sports and education to uplift future generations and positively impact the San Diego region.
