Daily Business Report: Jan. 8, 2025
Get up to speed fast on these new California laws taking effect in 2025
By CalMatters
Cannabis cafes and expanded outdoor drinking? An end to a banking fee? More protections for your credit score if you face medical debt? These are among the roughly 1,000 new laws hitting California starting the first day of 2025.
If that sounds like a lot, it could have been much more: California lawmakers introduced nearly 5,000 bills in the most recent legislative session ending this fall, a two-year period that saw nearly half die without a single vote.
In all, lawmakers passed about 1,200 bills in 2024 and Gov. Gavin Newsom vetoed 200 of those. And that’s the bureaucratic funnel in a nutshell.
Most of these incoming laws are technical, fix previous laws or are narrow in scope. But there are some that affect lots of Californians, or are just plain interesting.
There are the consumer finance protection laws, numerous education-related laws — including one to expand alcohol education that was written by a former lawmaker arrested for a DUI — as well as a law banning local voter ID rules and another granting a few more days to fight an eviction. Paris Hilton makes a cameo, too.
CalMatters reporters describe some of the noteworthy laws taking effect Jan. 1. Dive in to stay informed about the changes that matter to you — and keep coming back as we add more stories about new laws before 2024 rides off into the California sunset.
Major Acquisitions and IPOs
Year after year, San Diego proves to be a birthplace of innovation and R&D that catches the eyes–and investments–of firms around the world. Here are some of our region’s standout acquisitions and IPOs in 2024:
- Bristol Myers Squibb acquires RayzeBio for striking $4.1B
- San Diego genomics giant Illumina acquires Fluent BioSciencesfor $85M
- WD-40 Company acquires Brazilian distributorTheron Marketing for $6.9M
- French pharma leader Sanofi acquires Torrey Pines Inhibrxfor $2.2B
- Johnson & Johnson acquires La Jolla-based Ambrx Biopharmafor $2B
- Nerio Therapeutics acquires German drugmaker for $1.3B
- Japan’s Takeda inks $1.2B deal with San Diego’s Kumquat Biosciences
- Swiss drugmaker Novartis acquires San Diego-based Kate Therapeuticsfor $1.1B
- Swiss pharma giant Roche acquires Poseida Therapeuticsfor $1.5B
- Torrey Pines-based Avidity Biosciences raises $461M IPO
- Boundless Bio goes public with $100M IPO
California to screen 1.2 million kids for
reading challenges earlier than ever before
Beginning in the 2025-26 school year, California’s kindergarten, first, and second grade students will be annually screened with newly approved tools for reading difficulties, providing early identification and support for 1.2 million students.
Current law does not require California’s students to be screened for reading difficulties. Identifying and addressing reading difficulties earlier in childhood can help students succeed and prevent them from falling behind their peers.
In partnership with the legislature, the 2023 Budget Act signed by the Governor required that beginning with the 2025-26 school year, students in kindergarten through second grade be screened for risk of reading difficulties using the tools approved by the panel of experts appointed to the Reading Difficulties Risk Screener Selection Panel on Dec.16, 2024. This change will ensure that 1.2 million students receive risk identification and any needed interventions early in their educational journeys.
QuidelOrtho to present at 43rd annual J.P. Morgan Healthcare Conference
QuidelOrtho Corporation, a global provider of innovative in-vitro diagnostic technologies designed for point-of-care settings, clinical labs and transfusion medicine, announced that members of its management team will participate in the 43rd Annual J.P. Morgan Healthcare Conference. The company’s presentation is scheduled for Monday, Jan. 13, 2025 at 7:30 a.m. PST / 10:30 a.m. EST.
Interested parties can access the live webcast and replay in the “Events & Presentations” section of the “Investor Relations” page of QuidelOrtho’s website at https://ir.quidelortho.com/.
President of California American Water elected
to California Chamber of Commerce Executive Committee
California American Water announced that Kevin Tilden, president of the company, has been elected to the California Chamber of Commerce (CalChamber) Executive Committee. This prestigious appointment recognizes Tilden’s leadership in the water industry and his commitment to fostering a strong and thriving business environment in California.
CalChamber is a leading voice for businesses across the state, advocating for policies that promote economic growth and job creation. As a member of the Executive Committee, Tilden will join a distinguished group of executives representing diverse industries, working together to address critical issues facing California’s business community.
ClearNote Health’s Avantect test selected for study of pancreatic cancer detection
ClearNote Health, a company focused on improving early detection for some of the deadliest cancers, announced a new collaboration with research teams in Southampton in the United Kingdom. Researchers at the Southampton Clinical Trials Unit, based at the University of Southampton, will use the ClearNote Health Avantect Pancreatic Cancer Test in a landmark study, sponsored by University Hospital Southampton NHS Foundation Trust, that builds on the well-established relationship between pancreatic cancer and type 2 diabetes. The prospective, multicenter study will be the largest of its kind, including up to 15,000 patient participants recently diagnosed with type 2 diabetes.
American Business Bank opens new loan production office in San Diego
American Business Bank announced its further expansion with the addition of its San Diego Regional Office. The new office is located at 4727 Executive Drive, Suite 275, in San Diego. The new Loan Production Office (LPO) marks a natural progression in the bank’s growing footprint across Southern California. Having established relationships with select clients in the region over the years, the timing is now ideal to formally introduce an LPO to better serve the needs of local businesses. Led by Senior Vice President John Hartwig and First Vice President Ana Calvert, the new team brings over 60 years of combined experience in client-focused commercial banking.
DexCom launches first generative AI platform in glucose biosensing
DexCom, Inc., a global leader in glucose biosensing, announced it has launched a proprietary Generative AI (GenAI) platform, making Dexcom the first CGM manufacturer to integrate GenAI into glucose biosensing technology. The new Dexcom GenAI platform will analyze individual health data patterns to reveal a direct association between lifestyle choices and glucose levels while providing actionable insights to help improve metabolic health. Stelo, the first over-the-counter glucose biosensor cleared by the FDA in the United States, is the first Dexcom product to use GenAI-enabled technology to produce weekly insights.
