LA BUSINESS JOURNAL DAILY NEWS

Cedars-Sinai Awarded $12 Million to Study Deadly Lung Diseases

Cedars-Sinai Medical Center has received a federal award of $12 million to study two deadly lung diseases, the hospital announced Sept. 10.

Private Investor Pays $23M for Two-Story Commercial Space in Pasadena

Aegon USA Realty Advisors, a Cedar Rapids, Iowa-based limited liability company, has sold the two-story, 39,000-square-foot Walgreens building at 310 S. Lake Ave. in Pasadena for $23 million, or about $585 per square foot, with a 4.9 percent cap rate, to a private investor in Beverly Hills.

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Silicon Beach Report Sept. 10: Air Force Investigating Musk

Musk’s pot podcast draws Air Force scrutiny; WorldStar joins Snapchat’s story platform; Momentum IoT raises $3.1M

Momentum IoT Lands $3.1 Million

Long Beach-based mixed fleet management software developer Momentum IoT announced Sept. 10 it raised $3.1 million.

Shamrock Leads $30M Investment in AI-Generated Sports Content

Westwood-based investment firm Shamrock Capital announced Sept. 10 that its led a $30 million investment round on behalf of an Israeli company that provides unmanned cameras for sporting events.

Arrowhead Pharma Stock Soars After Hepatitis B Drug Shows Promise

Shares in Arrowhead Pharmaceuticals Inc. rose 40 percent a day after the Pasadena-based biotechnology firm released positive results for a drug treating hepatitis B virus infection.

Top-Read Stories of the Week

Recent Top-Read L.A. Business Journal Stories:

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Moonves Out at CBS, NAI Settlement Reached, $20M ‘MeToo’ Donation Planned

Les Moonves will exit his post as chairman, president and chief executive at CBS Corp, according to a Sept. 9 announcement by the entertainment giant, which also detailed a settlement with the National Amusements Inc. members of the CBS Board and related parties.

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Embattled Owner of LA Weekly Behind New O.C. Publication

It appears embattled LA Weekly publisher and part-owner Brian Calle has set his sights on creating a new publication – the Irvine Weekly.

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Silicon Beach Report Sept. 7: GumGum Gets Blue Jackets’ Biz

Hello Sunshine Expands Podcast Program; Scooters Granted Passage in Los Angeles; GumGum Signs Blue Jackets

Canter’s Scion Raises $9.5M for Delivery Software Firm

A member of the fourth-generation of the family that owns Canter’s Deli has raised $9.5 million in a series A round for a software system that was developed to manage to-go orders and deliveries at the famous Fairfax district eatery and now is marketed to other restaurants.

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Reports: Moonves, CBS Board Negotiating Exit Plan

Les Moonves, the chief executive of CBS Corp., is making moves to exit the entertainment giant, according to reports, which say the longtime executive is in negotiations with the board of directors over plans to leave the company.

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L.A. City Council Approves Rules for Electric Scooter Pilot Program

The Los Angeles City Council on Tuesday approved a one-year pilot program to regulate dockless electric scooters.

Soon-Shiong’s NantWorks Invests in Daybreak Games

Also planned: e-sports arena, leagues

Culver City-based NantWorks, a diversified holding company run by Patrick Soon-Shiong, announced Sept. 6 it invested an undisclosed sum into Daybreak Game Co., creating through the investment a joint venture titled NantG Mobile.

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Ares Management Buys Assets of Texas Oil and Gas Company

Century City private equity firm Ares Management announced Sept. 6 that its power and infrastructure fund Ares EIF has closed on the acquisition of the assets of Irving, Texas-based oil and gas company Paradigm Energy Partners from an affiliate of Stonepeak Infrastructure Partners of New York.

Cedars-Sinai Joins Forces With Synthetic Biologics to Develop IBS Drug

Cedars-Sinai Medical Center has entered into an agreement with Synthetic Biologics Inc. to conduct a clinical study of a drug to treat irritable bowel syndrome.

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Silicon Beach Report Sept. 6: Snap Stock Plummets Again

Snap's stock sinks below $10; DDN acquires Tintri at auction; Pipeliner introduces cloud CRM software.

Nexon America Moving HQ in El Segundo

Video game publisher Nexon America is moving its North American headquarters to the two-story, 49,000-square-foot office building at 621 Hawaii St. in El Segundo after signing a 9-year lease.

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Prologis Picks Up 31.2 Acres in Torrance

Prologis Inc., a San Francisco-based real estate investment trust specializing in industrial properties, has purchased 31.2 acres of land – roughly 1.4 million square feet – at the northeast corner of Del Amo Boulevard and Prairie Avenue in Torrance from PBF Energy of Parsippany, N.J., for $49.3 million, according to CoStar Group Inc.

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Top-Read Stories of the Week

Recent top-read L.A. Business Journal stories.

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