Daily Business Report — Sept. 21, 2010
Ocean May Yield Cures for Diseases
In an effort to tap into the vast potential of the oceans as a source for novel medical treatments, the Defense Threat Reduction Agency (DTRA), a part of the Department of Defense, has awarded San Diego-based Trius Therapeutics Inc. a four-and-a-half year contract worth up to $29.5 million to collaborate with Scripps Institution of Oceanography for the development of antibiotics directed against microorganisms that cause serious infections. Trius will use its proprietary Focused Antisense Screening Technology to identify the targets of antibacterial compounds from marine natural product libraries discovered by William Fenical, professor of Oceanography at Scripps Institution and director of Scripps’ Center for Marine Biotechnology and Biomedicine. Fenical has led efforts to explore the oceans in search of novel microbial sources that can lead to the development of new cures for a variety of diseases. Expeditions to Fiji, the Bahamas, and just off the Scripps Pier have yielded promising drug compounds to treat cancer and other illnesses. The oceans, which remain largely unexplored, offer a broad diversity of environments that Fenical and his colleagues are examining for organisms and unique chemical structures.
“We are now facing an epidemic because drug resistance is growing at an alarming rate,” said Fenical. “The oceans are a huge resource where biodiversity is greatest on our planet. The biomedical potential comes from plants, animals and microbes that have unique genetic compositions.”
Medical Office Condo in Coronado Sells for $1 Million
The Shuffett Family Trust, dba Coronado Plastic Surgery Center, has purchased a 2,094-square-foot medical office condominium in Coronado City Views for $1,047,000. The mixed-use Coronado City Views is located at 131 Orange Ave. in Coronado. Coronado Plastic Surgery plans to relocate to Coronado City Views from its current location at 1050 B St. The ground floor of Coronado City Views is comprised of 8,624 square feet of office and retail space. The residential units feature two and three bedrooms and views of the Downtown San Diego skyline. Residents also have private access to a large roof garden and terrace. Both the buyer and the seller, Coronado City Views LLC, were represented by David Maxwell and Corinna Gattasso of Cushman & Wakefield’s Urban Property Group.
Biomed Realty Trust Buys Building for $63.5 Million
Biomed Realty Trust has purchased the 125,219-square-foot office building at 4570 Executive Drive in UTC for $63.5 million. It is the first of several life sciences properties purchased by Biomed Realty to expand its San Diego portfolio. The four-story building is 100 percent leased to Bristol Myers Squibb, Amylin Pharmaceuticals and UCSD. David Odmark of Cassidy Turley BRE Commercial represented Biomed Realty Trust and the seller, San Diego-based LMC Executive Investment Co.
UCSD to Welcome Nearly 4,000 Incoming Freshmen
UCSD, which turns 50 this year, will welcome an estimated 3,950 incoming freshmen and record 2,600 transfer students for the first day of classes on Thursday. UCSD officials said the school’s 29,000 students, including this year’s new class, can look forward to several new campus programs, resources and facilities that will help them save money, reduce their carbon footprint and live a healthier lifestyle. These include a new textbook rental program, one-stop-shop for wellness and Farm2U, a program that connects students with local farmers. The campus reports that nearly 35 percent more transfer students are expected to attend UCSD, a record high for the university. Additionally, a record number of underrepresented new students will attend the school, up 23 percent for both freshmen and transfer students, compared to last year. The freshmen bring with them an average high school GPA of 3.98 and SAT reasoning test scores of 600 or higher on the three exams. The new transfer students entering UCSD have an average college GPA of 3.42. This fall, a total of 8,561 undergraduate students, 2,024 graduate students, 212 faculty and 111 staff will be housed on campus. This includes 452 graduate students who will live in UCSD’s new graduate student housing complex.
Molecular Response Appoints CEO
Molecular Response, a privately held molecular diagnostic services company, has appointed Cyrus K. Mirsaidi as CEO. Masood Tayebi will continue to serve as Molecular Response’s executive chairman. Mirsaidi has held several senior level management positions in his 10-year career at Nichols Institute Diagnostics (a division of Quest Diagnostics), where he was responsible for global launch of clinical diagnostic IVD tests and automated platforms. As general manager and executive director at Ontogen, a small molecule discovery company, he managed operations of a subsidiary focused on high throughput synthesis and purification of novel compounds. Most Mirsaidi served as vice president at AltheaDx, a San Diego biotechnology company, where he led the business development and licensing efforts with pharmaceutical partners.
Qualcomm Promotes Mollenkopf to Executive VP
Qualcomm Inc. announced the promotion of Steve Mollenkopf to executive vice president and group president. The promotion was to recognize Mollenkopf’s increased responsibilities to include not only Qualcomm CDMA Technologies but also Qualcomm Internet Services and Qualcomm MEMS Technologies Inc. Mollenkopf began his career at Qualcomm in 1994 as an engineer and was a leading contributor to the Globalstar project before joining the QCT team in 1999. Mollenkopf led the development of Qualcomm’s UMTS family of air interface technologies before transitioning to a business role in 2007. In 2008, he was promoted to executive president and president of QCT. Mollenkopf holds electrical engineering degrees from Virginia Tech and the University of Michigan at Ann Arbor.
SCORE San Diego’s Upcoming Small Business Workshops
• Sept. 22 – Marketing & Contracting w/ State & Local Government – 9 a.m. to 3 p.m. at Point Loma Nazarene University in Mission Valley (4007 Camino del Rio South, San Diego 92108; pre-paid registration $69, $79 at the door).
• Sept. 23 – Internet Marketing 201 (SEO) – 9 a.m. to 3 p.m. at Point Loma Nazarene University in Mission Valley (4007 Camino del Rio South, San Diego 92108; pre-paid registration $69, $79 at the door).
• Sept. 24 – Hiring and Managing Employees – 9 a.m. to noon at SCORE Entrepreneur Center (550 West C St., #550, San Diego 92101; pre-paid registration $49, $59 at the door).
• Sept. 25 – Business Plan 201: How to Write a Business Plan – 9 a.m. to 3:30 p.m. at Point Loma Nazarene University in Mission Valley (4007 Camino del Rio South, San Diego 92108; pre-paid registration $99, $109 at the door).
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