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Daily Business Report — June 25, 2012

Biotech Funding and Spending Continue to Rise in San Diego

Biotech companies boosted spending on research and development for a second year in a row, according to a new study by CONNECT, as reported to KPBS. Steve Hoey, the director of business creation and development at the technology trade group, said funding for San Diego biotechs is also on the rise. Last year in San Diego, a few types of funding for biotech companies increased, he said. Hoey, who helps research and write CONNECT’s quarterly Innovation Report , said five San Diego companies raised about $600 million in follow-on equity in the last part of 2011. “That money can go into research and design and is a good source of capital for a company that’s in the public market already,” he said. Biotechs and pharmaceutical companies received $400 million in venture capital funding in 2011, he said.

Pathway Genomics Corp. Partners
With Medical Diagnostics Company

Pathway Genomics Corp., a San Diego-based genetic testing laboratory, has partnered with Diagnosticos da America (DASA), the largest private medical diagnostics company in Latin America and the fourth largest provider of diagnostic services in the world. Based in Brazil, DASA’s clinical analysis division collects samples from more than 500 patient service centers and has 11 central laboratories. DASA’s brands include Alta Excelência Diagnóstica, Delboni Auriemo, Lavoisier, CDPI, Sérgio Franco, Pasteur, Exame and others. Through this partnership, physicians have access to Pathway’s genetic testing services, bringing additional personalized care to more than 180 million people in Brazil, according to Michael Nova, Pathway’s chief medical officer.

San Diego Hardware Celebrates
120 Years in Business in City

You have your choice of more than 7,000 doorknobs

San Diego Hardware is celebrating 120 years in business. Founded in 1892, the company is still owned by one of the original founding families and has evolved over the decades to keep current with an Internet business and Kearny Mesa showroom. “We’re proud to say that we are one of the only businesses in San Diego with such a long history,” said owner Bill Haynsworth. “We now have our fifth generation working in the store.” The company has an illustrious history in San Diego and was originally opened Downtown on Fifth Avenue by Haynsworth’s great uncle and his business partners. The current owners, Bill Haynsworth and Rip Fleming, bought the business in 1983 from Haynsworth’s father. Haynsworth’s son currently works at the store, making him the fifth generation to help with the business. Over the years, the store sold many different items from pots and pans to Winchester riffles, cast iron stoves and iceboxes until Haynsworth and Fleming focused their core products on decorative hardware. In 2006, the company moved to Kearny Mesa to better serve its customers with a larger space, freeway access and convenient parking. The current showroom is 15,000 square feet and features interactive product displays with more than 7,000 door knobs and pulls, 3,800 hinges and 1,000 door locks on display. In addition, the second floor offers a plumbing showroom with sinks, faucets and other kitchen and bath products.

Naval Base Coronado
to Get New Commander

Navy Capt. Yancy Lindsey, commanding officer of Naval Base Coronado, will relinquish command of the base to Capt. Gary Mayes during a 10 a.m. ceremony on Thursday at Naval Air Station North Island. Mayes served as the executive officer of Naval Base Coronado for 18 months. Lindsey will report to Commander, Navy Region Southwest in San Diego where he will serve as the chief of staff. Naval Base Coronado is a consortium of eight Navy installations: Naval Air Station North Island; Naval Amphibious Base Coronado; Navy Auxiliary Landing Field San Clemente Island; Naval Outlying Landing Field Imperial Beach; Silver Strand Training Complex; SERE Training Facility Warner Springs; Camp Morena and Camp Michael Monsoor.

Air Force Space Plane Runs on Solar

Its purpose is shrouded in mystery but one thing is known about the U.S. Air Force’s robotic X-37B space plane, which flew back to Earth recently after a 15-month stint in orbit: It runs on solar. During its time in orbit, the X-37B deployed solar panels to power itself, according to a report by Earth Techling, an online consumer publication. The gallium arsenide solar cells charged lithium-ion batteries for the craft’s internal systems. What those internal systems are and what payload the 29-foot-long craft was carrying remains top secret. In fitting with its clandestine status, the plane touched down in the dawn light  in California’s Vandenburg Air Force Base. The vessel, which is unmanned and looks like a smaller version of a conventional space shuttle, was launched into space in March last year from Cape Canaveral Air Force Station in Florida.


San Diego — Ed Boniske has joined Higgs Fletcher & Mack law firm as an associate in the labor and employment practice group. Boniske is a 2009 graduate of the University of San Diego School of Law and has an undergraduate degree in political science from UC Berkeley. He previously was with Duckor Spradling Metzger & Wynne.

San Diego — Rick Rattray has been appointed president of Essential Learning LLC. Rattray was previously the general manager of Colloquy, a division of Kaplan. Prior to Colloquy, Rattray led strategic programs for Kaplan Higher Education. He has held several positions in business development, marketing and operations with Xerox and BlackBox Networks.

The Daily Business Report is produced by SD METRO. Contact: Manny Cruz (619) 287-1865.

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