The San Diego Angel Conference (SDAC) is launching a fund for its sixth angel conference program. SDAC VI aims to provide guidance, education, resources, and connections to early-stage companies seeking angel funding. It will engage both first-time and experienced angel investors. SDAC is collaborating with The Brink SBDC for a 15-week fall series designed for early-stage company founders. During the series, founders will have weekly networking opportunities, access to resources, learning from experts and investors, and exploration of topics crucial for raising capital. The E-Track of the program will conclude on Dec. 19, with companies competing for $200,000 in investments from 75 investors. Additionally, SDAC will host an Alternative Funding Expo to explore non-traditional fundraising methods for new companies. SDAC is open to early-stage companies with the potential for a 10X return in five years.
Arialys Therapeutics, a biotech pioneer in autoimmune neuropsychiatry therapies, has received $58 million in seed financing. The funding will be used for the development of precision medicines aimed at blocking pathogenic autoantibodies in the central nervous system. Jay Lichter, CEO of Arialys, expressed optimism about recent scientific findings linking autoimmune activity to neuropsychiatric diseases. The lead therapeutic, ART5803, seeks to combat autoimmune encephalitis and has shown promise in preclinical trials. The FDA has granted orphan drug designation to ART5803 for ANRE treatment.
The use of parafluorofentanyl, an illicit synthetic opioid, is surging across the Western U.S., according to a news release from Millennium Health, a San Diego drug testing lab. Analysis by Millennium Health showed significant increases in the use of parafluorofentanyl in the Pacific and Mountain divisions. The surge in use is a cause for concern, as parafluorofentanyl-involved overdose deaths have increased from 2020-2021. Millennium Health’s Chief Clinical Officer urged anyone concerned about illegal drug usage to seek help.
The Forum Carlsbad, an outdoor shopping center in North County, has added three new stores to its tenant lineup. Nike by La Costa offers performance apparel, footwear, and accessories. Alo Yoga is a premium activewear brand that emphasizes a studio-to-street lifestyle. McConnell’s Fine Ice Creams, known for its high-quality ice cream, is set to open this month.
The Sheraton San Diego Hotel & Marina is debuting four new restaurants as part of a multi-million-dollar renovation. Rumorosa, the first of the four new dining outlets, will offer all-day drinking and dining infused with vibrant flavors. The other planned outlets include Brewery X craft beer pub, Sunglow Harborside Bar and Cabana Club, and Strada, a casual eatery and market.
Techo Funding and Impact Housing US have closed construction financing for a $57 million 324-unit multifamily project in San Diego. The project, located near San Diego State University, will provide workforce housing for middle-income households. Impact Housing will oversee the project from sourcing and design to construction and management. The CEO of Impact Housing highlighted the benefits of building affordable housing close to the university and job centers.
Nordstrom is opening a 26,000-square-foot Nordstrom Rack off-price store in Clairemont Town Square next fall. This new location, along with 10 other announced store openings, will bring the total number of Nordstrom Rack stores and Nordstrom stores in California to 68 and 22, respectively.