San Diego Business Journal
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SDBJ.COM JOURNAL BUSINESS November 16 – 22, 2020 • $5.00 ™ IEGO BUSINESS D OF AN THE COMMUNITY OF BUSINESS S Qualcomm 46 Vol.Vol. 41, No.No. 46 Earnings Surge TECH: Benefits from Rising 5G Demand BY FRED GRIER revenue soared 33% in Qualcomm Inc. the fourth quarter, blowing through Wall Street estimates and continuing the com- pany’s comeback from a tumultuous six- year period of legal battles. The positive report ignited Qualcomm stock, which was up about 80% year to date prior to the Nov. 4 earnings announce- ment. To date, the Sorrento Valley-based company’s shares have climbed 49% this year, valuing it at more than $145 billion. For the quarter which ended on Sept. 27, Qualcomm reported¨ revenueQualcomm of $6.5 page billion, 52 Viasat Has a New CEO TECH: Baldridge’s Role Is Formalized Cohn Restaurant Group is vying to bring a 148-foot tall observation wheel to Plaza de Panama in Balboa Park. By BRAD GRAVES has stepped into the Observation Wheel for Balboa Park? Richard Baldridge Cohn Group Seeks Approval of Sky Dining Experience chief executive’s The wheel is owned, aand Phoenix, operated Arizo- by Viasat Inc., HOSPITALITY: Sky Views of America job at vying for the 148-foot-tall rotableBalboa wheel Park’s to na, based company. Sky Views current- taking the place be temporarily housed at ly has an observation wheel installed at of founding CEO , By MARIEL CONCEPCION in downtown Miami Mark Dankberg Plaza de Panama. CRG is a hospitality Bayside MarketplaceObservation page 50 firm founded in 1981 which owns and op- ¨ who held the role Coachella Valley Music and Arts Festi- erates 25 restaurants in Southern Califor- for 34 years. The val’s famed Le Grande Wheel may soon is nia and Maui, Hawaii. Carlsbad com- have a new (temporary) home. pany announced Cohn Restaurant Group, Inc. (CRG) the change when it disclosed quar- Richard Baldridge terly earnings on CEO Nov. 3. Viasat Inc. Dankberg will Merck Buys VelosBio for $2.75 Billion be executive chair- BIOTECH: Acquisition Will Strengthen Merck’s aOncology goal is to develop Pipeline a novel, first-in-class, man and oversee several areas of the busi- ROR1-directed therapeutics to transform ness — including the company’s techno- The acquisition will strengthen Merck’s the lives of patients with cancer logical direction — and will remain chair- oncology pipeline with VLS-101, an in- “We are very pleased that Merck has BY FRED GRIER man of the board. vestigational antibody-drug conjugate in recognized the value of our first-in-class Merck, will pay ¨ Viasat page 50 Velos- trials for hematological malignancies and ROR1-directed investigational therapeu- Pharmaceutical giant solid tumors. As a result, helping boost $2.75 billion for San Diego-based tics,” said Johnson. ¨“As VelosBio part of pageMerck’s 52 its market position in the oncology and LAW(FIRMS Ranked by number of lawyers in THE LIST LAWRanked FIRMS by number of lawyers in local offices as of July 1, 2020 local offices as of July 1, 2020 , a biotech startup with promising can- with Local staff: Bio Firm Local lawyers: Legal Address 2020 Local: secretaries Offices: Managing precision medicine space.Dave Johnson Website 2019 Partners Paralegals Countywide partner(s) Rank Phone % + (-) Associates Other Nationwide Area(s) of practice Year est. locally Procopio, Cory, Hargreaves & Savitch LLP 31 Business litigation, construction, 166 75 John Alessio 1 525 B St., Suite 2200, San Diego 92101 164 2 62 25 6 corporate, healthcare, IP litigation/ 1946 cer therapies currently in clinical trials in (1) www.procopio.com 1 97 prosecution, labor & emp. Founded in 2017, by 619-238-1900 Sheppard Mullin Richter & Hampton LLP 35 148 57 2 501 W. Broadway, 19th Floor, San Diego 92101 127 17 2 Corporate, intellectual property, labor Guy Halgren 91 11 & employment, litigation & real estate 1986 (4) www.sheppardmullin.com 17 52 619-338-6500 a deal that is expected to close by the end Robbins Geller Rudman & Dowd LLP Darren Robbins 139 23 1 Paul Geller 3 655 W. Broadway, Suite 1900, San Diego 92101 142 53 19 23 9 Securities Samuel Rudman (2) www.rgrdlaw.com (2) 118 619-231-1058 2004 Gordon Rees Scully Mansukhani LLP 125 30 Commercial litigation, employment & Kevin Alexander LIST 101 W. Broadway, Suite 2000, San Diego 92101 67 2 4 135 16 labor, IP, environmental/toxic Miles Scully of this year. www.grsm.com 58 69 (3) (7) 45 tort,product liability, insurance 1990 619-696-6700 DLA Piper 101 20 IP & IP litigation, corporate, litigation, THE 401 B St., Suite 1700, San Diego 92101 39 2 Jeff Baglio 5 100 14 finance, real estate, labor & 41 29 1927 (5) www.dlapiper.com 1 90 employment 619-699-2700 Cooley LLP 100 na 1 Complex commercial litigation, Michael Attanasio 6 4401 Eastgate Mall, San Diego 92121 100 na na securities litigation, IP litigation, na 10 1992 (6) www.cooley.com 0 na public companies, emerging cos 858-550-6000 Latham & Watkins LLP 99 19 Capital markets, litigation, emerging 28 1 Brook Roberts 7 12670 High Bluff Drive, San Diego 92130 87 12 companies, environmental law, 63 11 1980 (7) www.lw.com 14 51 insurance, IP, M&A, real estate 858-523-5400 Higgs Fletcher & Mack LLP 78 28 Business litigation, corporate & LEADERS IN LAW: 401 W. A St., Suite 2600, San Diego 92101 49 1 Steve Cologne 8 78 18 securities, employment, family, real 29 1 (8) www.higgslaw.com 0 21 estate, trusts & estates, tax 1939 LAW FIRMS 619-236-1551 Mintz 75 20 Corporate, litigation, intellectual 18 1 Daniel Pascucci LEADERS IN LAW 9 3580 Carmel Mountain Road, Suite 300, San Diego 92130 68 12 property, employment, real estate, 57 7 2006 (9) www.mintz.com 10 25 licensing, and privacy. 858-314-1500 Legal Aid Society of San Diego Inc. Award Winners Announced 66 7 0 10 110 S. Euclid Ave., San Diego 92114 61 39 3 Consumer, housing, SSI & public Gregory Knoll 0 3 benefits, health 1953 (11) www.lassd.org 8 41 Pages 25, 26, and 27 877-534-2524 P.13 Wilson Sonsini Goodrich & Rosati 65 9 Corporate, mergers & acquisitions, Jeff Guise 13 1 11 12235 El Camino Real, Suite 200, San Diego 92130 60 6 intellectual property, litigation M WINNERS ANNOUNCED www.wsgr.com 40 11 (12) 8 70 technol 858-350-2300 Tyson & Mendes 60 12 5661 La Jolla Blvd., San Diego 92037 (10) www.tysonmendes.com 858-459-4400 BUSINESS WOMEN OFP.13 THE YEAR: P.29 Finalists Announced ™ It takes more Where Business Meets Opportunity than blah, blah, blah. Member FDIC PPBI.com/SanDiego 2 www.sdbj.com NOVEMBER 16, 2020 TABLE OF CONTENTS November 16 – 22, 2020 | Vol. 41, No. 46 BROKERS of the YEAR 8 Micro-unit housing in La Jolla 12 Keeping clean while traveling ACKNOWLEDGING THE BEST OF THE BEST DEFENSE SDBJ INSIDER Irvine Company Office congratulatesthese exemplary brokers 4 TECHNOLOGY: Verizon who represent the best of the best in our industry. We admire their part of 5G ‘living 3 Recognition tireless dedication and thank them for their extraordinary efforts. lab’ at Marine Corps Air Station Miramar STARTUPS 8 TECHNOLOGY: Kratos Defense beats analyst expectations in third quarter 10 PERSONAL CARE: Hair Craft Co. aiming for $1.5M in revenue on men’s DEVELOPMENT hair products 4 HOUSING: New Urban West Inc. Joe Bernstein Jason Hughes Star Hughes-Gorup Mike Labelle David Marino 10 SOFTWARE: Sekr, the company behind plans $150M mixed use community in JLL Hughes Marino Hughes Marino Savills Hughes Marino the Vanlife app for camping enthusiasts, 858.410.1225 619.238.2111 619.238.2111 858.793.8602 619.238.5672 Carlsbad gains funding 8 HOUSING: Mana Investments plans 858.658.7700 $10M micro unit apartment complex in TECHNOLOGY IrvineCompanyOffice.com La Jolla Village 1 WIRELESS: Qualcomm earnings surge © 2020 The Irvine Company, LLC. HOSPITALITY: 1 SATELLITES: Viasat’s new CEO, 1 RESTAURANTS: Cohn Restaurant Richard Baldridge, is a familiar face Group seeks approval for sky dining 6 FINTECH: Digital payment specialist experience GreenBox POS closes $4M in financing 3 RESTAURANTS: San Diego Restaurant Week Returning in January TOURISM 12 WORKFORCE: Nonprofit Big Table helps 12 RETAIL: TravelClean of Carlsbad grows hospitality workers a business offering personal travel kits LIFE SCIENCES: THE LIST 1 BIOTECH: Merck buys VelosBio for 25 LAW FIRMS: Procopio has the top spot $2.75 billion WE KNOW OUR on SDBJ’s List of Law Firms CUSTOMERS BY NAME. 3 BIOTECH: RayzeBio launches with $45M Series A round THE INDEX MAYBE IT’S TIME YOU 55 People, associations, companies and REAL ESTATE LEARNED OURS. organizations 11 OFFICE: Mintz law firm remodels and expands its office with SPECIAL SECTIONS the help of ID Studios 13 LEADERS IN LAW AWARDS 2020: 48 RETAIL: Leasing is up slightly, even with Profiles of this year’s winners pandemic, CBRE reports 28 PEOPLE ON THE MOVE: New hires and 48 INDUSTRIAL: Voit Real Estate promotions Services, Tangerine Energy seek to put batteries in buildings 29 BUSINESS WOMEN OF THE YEAR: We’re Bank of Southern California. And, like you, we’re growing. 2020 Finalists announced How? By taking an active role in helping our customers achieve their RETAIL goals. Here, you’re partnered directly with a decision-maker—one who’s 53 MARKETPLACE 6 Canada-based PlantX to open Hillcrest expertise in So. Cal. business means you’ll not only enjoy personalized service that saves time and eliminates hassles—but facilitates success. store in early 2021 53 LEGAL NOTICES Now that you know a little about us, it’s time we get to know you.