Save the date! Old Pasadena Management District announces the third annual BoldPas: A Day of Art & Play in Old Pasadena, scheduled for Saturday, June 8, 2019 in the commercial and historic heart of Pasadena, California – Old Pasadena.
The free, one-day event encourages the community to experience art in myriad ways within the district’s unique downtown alleyways and public spaces. The selected temporary art installations are bold – in color, scale, materials, and concept. Many of them incorporate a component of interactivity – come play with the art!
The 2017 and 2018 events filled the district with fantastic community spirit, bright color, a sense of local pride, and a wide range of attendees that included hip millennials, young families, eco-urban enthusiasts, and seasoned art lovers. In 2019, visitors will once again have the opportunity to meet selected and commissioned artists who remain on site throughout the event to engage with the public. Local businesses will entice visitors with storefronts decorated in surprising ways.
The 2019 Call for Submissions has been released. Artists in the greater Los Angeles area are encouraged to submit proposals by March 15, 2019 for consideration; six of the 12 event installations will be selected from this call. Find the Call for Submissions, photos, inspiration boards, and more on the event website: www.oldpasadena.org/boldpas.
Lotus Clinical Research, a Pasadena-based global specialty analgesic full-service contract research organization (CRO), has appointed Peggy Schrammel as Senior Vice President of CRO Services.
“Lotus Clinical Research is continuing with our rapid growth by focusing our efforts on increasing our infrastructure and human capital,” said Dr. Neil Singla, Lotus Clinical Research President and CEO. “Adding Peggy to our team adds depth to our leadership and positions us for exponential future growth in the analgesic CRO space.”
Singla also cited Schrammel’s experience, expertise, and ability to successfully deliver on the sale, design, and execution of programs in her previous roles with some of the industry’s largest CROs.
Prior to joining Lotus Clinical Research, Schrammel spent over 25 years in various senior leadership and management positions at several of the largest global CROs, most recently as Vice President, Scientific Affairs and Asia Pacific for Parexel in Boulder, Colorado, where she was responsible for growing the business and ensuring strong scientific support for both new opportunities and on-going projects.
At Lotus Clinical Research, Schrammel is responsible for leading business development efforts and assisting with further building our CRO infrastructure to further grow our business and fuel our anticipated growth.
“I am excited to be joining the established Lotus Clinical Research team,” Schrammel said. “Lotus Clinical Research is prepared for exponential growth in the analgesic drug development space. By delivering on their mission to reduce prescription drug misuse and abuse, Lotus’ team consistently thinks outside of the norm to develop strategies and pathways that help pharmaceutical companies bring their products to market.”
For more information about the Pasadena company, visit www.lotuscr.com.
Pasadena-based CIT Bank has announced a $350,000 grant in support of Neighborhood Housing Services of Los Angeles (NHS), the largest non-profit affordable homeownership provider in Southern California.
It represents the second such grant to NHS Los Angeles and will provide affordable lending, financial education, and real estate services to 4,500 low- and moderate-income residents across Los Angeles County, a CIT Group statement said.
“CIT is pleased to partner with NHS to build stronger, more equitable communities across Southern California,” said Steve Solk, president of consumer banking for CIT. “NHS plays a critical role in empowering thousands of local residents to achieve economic prosperity and a better quality of life.”
CIT’s commitment will support NHS’s sustainable communities initiative, which aims to develop new single- and multi-family housing units, provide financial assistance for families at risk of foreclosure, and offer homeowner counseling services to local residents.
“NHS is grateful for CIT’s partnership as we work to drive transformative change across the region and serve neighborhoods of opportunity,” Lori Gay, President and CEO of NHS Los Angeles,” said. “This grant furthers our ability to revitalize communities, broaden access to resources and improve the quality of life for thousands of local residents.”
CIT, the banking subsidiary of CIT Group Inc., provided a first grant to NHS Los Angeles in 2017, for the sustainable communities initiative. As a result, approximately 3,669 homeowners received financial counseling and 259 affordable loans were originated and closed.
CIT’s banking subsidiary is based in Pasadena and includes the OneWest Bank Southern California branch network.
For more information on CIT, visit www.cit.com.
To learn more about NHSLA and the sustainable communities initiative, visit www.nhslacounty.org.
Wetzel’s Pretzels, the Pasadena-based soft pretzel bakery chain familiar to consumers across the West, is setting its sights for growth in 2019 in the Philadelphia and South New Jersey area this year.
On January 30 and 31, Doug Flaig, Wetzel’s Pretzel’s vice president of franchise development, will be hosting exploratory meetings with qualified multi-unit operators in Philadelphia and South New Jersey, a company statement said.
“Wetzel’s Pretzels’ menu items sit at a fantastic intersection of being quick, affordable snacks that are made from scratch with limited ingredients, exactly what today’s consumers are looking for,” Jennifer Schuler, Wetzel’s Pretzel’s CEO, said.
The brand born from the Southern California lifestyle has cultivated fans for more than 20 years, thanks to its scratch-made pretzels, fresh lemonade and craveable Cin-a-Bitz. The planned expansion builds on that fan passion and the brand’s ability to cultivate fans from coast to coast, according to the statement.
The statement said Wetzel’s targeted growth plans for the Philadelphia and South New Jersey area come on the heels of another banner year for the company, which included consistent, industry-leading sales growth, as well as being recognized as a growth concept by publications like Entrepreneur Magazine and Franchise Times.
The company’s leadership views Philadelphia and South New Jersey as fantastic growth opportunities, thanks to the area’s strong GDP growth, new business tax incentives and high density population, according to the statement.
The brand currently has two open locations in Philadelphia, which give Wetzel’s Pretzels an existing market presence. It’s now looking at Philadelphia Mills, Philadelphia Premium Outlets and Springfield Mall as possible new locations, along with Moorestown Mall and Cherry Hills Mall in New Jersey.
Beyond traditional mall buildouts, Wetzel’s Pretzels is also capitalizing on various nontraditional locations, with various build-out options such as baking and non-baking kiosks, and remote units that can supplement a traditional in-line location.
Anyone interested in learning more about Wetzel’s Pretzels can contact Doug Flaig to schedule an initial discussion at (805) 616-9799 through firstname.lastname@example.org.
Alternatively, operators who are looking to expand or diversify their holdings can visit Wetzel’s Pretzels’ franchise site, www.wetzelsfranchising.com or call (626) 432-6900.
Pasadena-based Rockley Photonics, a pioneer in integrated optics for high-density digital systems, has announced the appointment of Caroline Brown to its board of directors. Brown will chair the company’s audit committee, a company announcement on Tuesday said.
“Chairing our audit committee is a critical role as we structure our business for growth,” said Mahesh Karanth, chief finance officer, Rockley Photonics. “Our technology addresses multiple markets from data centers to the sensing environment for automation, autonomy, IOT and AI. We need the right financial platform in place to be successful in these high-growth sectors.”
Brown has served as senior independent director and audit chair for several alternative investment market businesses and currently holds several non-executive directorships. She has over 18 years of experience in driving strategic growth and leading high performing teams in the technology and professional services sectors, including roles with Merrill Lynch (New York), UBS and HSBC.
“Caroline brings an impressive range of skills and experience, which adds to and complements the board’s extensive background in the public markets,” said Andrew Rickman, Rockley Photonics CEO and Chairman of the Board. “We are delighted that she has agreed to add her knowledge and energy to further accelerate our exciting trajectory.”
“I am very excited to be joining Rockley at this stage in its journey. Recent industry M&A (merger and acquisitions) activity has highlighted the strategic value that manufacturers see in integrated photonics,” Brown said of her appointment.
Brown is a Fellow of the Chartered Institute of Management Accountants and holds a first-class degree and PhD in Natural Sciences from the University of Cambridge, and an MBA from the Cass Business School, University of London.
Rockley Photonics has its offices at 234 E Colorado Blvd. in Pasadena. The company also has offices in San Jose, Oxford in the UK and in Helsinki, Finland.
For more information about the company, visit www.rockleyphotonics.com.
Building on its earlier success with a gene-silencing drug for patients with chronic hepatitis B infection, Pasadena-based Arrowhead Pharmaceuticals Inc. has filed an application to begin a Phase 1 clinical trial of a new possible treatment for hypertriglyceridemia, a condition which denotes high blood levels of triglycerides.
The new investigational medicine, ARO-APOC3, is another RNAi (ribonucleic acid interference)-based drug, the fifth of Arrowhead’s product candidates that leverage the Targeted RNAi Molecule, or TRiM, platform to enter clinical studies.
An Arrowhead Pharmaceuticals statement Monday said the application for approval of the clinical trial is being submitted to a local ethics committee and to the New Zealand Medicines and Medical Devices Safety Authority.
The statement added the new drug targets Apolipoprotein C-III (apoC-III) and is being developed for the treatment of hypertriglyceridemia, a risk factor for coronary artery disease.
Currently, weight loss and dietary modification are effective first-line lifestyle modification treatments for hypertriglyceridemia.
“Addressing hypertriglyceridemia through reduction of liver-produced apoC-III offers multiple potential development opportunities, including both orphan indications, such as FCS, and large market indications,” Dr. Chris Anzalone, Arrowhead President and CEO, said. “In AROAPOC31001, our first-in-human study, we intend to evaluate ARO-APOC3 in healthy volunteers and various patient populations with elevated triglycerides, which will help inform our strategy around the ideal development and regulatory paths to pursue.”
Earlier this year, Arrowhead Pharmaceuticals entered into a license and collaboration agreement with Janssen Pharmaceuticals, Inc., a Johnson & Johnson subsidiary, to develop and commercialize ARO-HBV, its gene-silencing drug for chronic hepatitis B infection.
Arrowhead also signed a research collaboration and option agreement with Janssen to potentially develop up to three additional RNAi therapeutics against new targets that Janssen will select.
Tuesday’s Financial Rollercoaster Ride Keeps Doors Open at Iconic Hastings Ranch Sears Store – For Now
[Updated Wednesday, January 9,2019| 6:00 a.m.] Tuesday saw the future of the iconic Sears department store at Hastings Ranch Plaza darken then brighten somewhat as its parent company first asked a court for permission to liquidate then announced midday it had agreed to consider a revised bid for a buyout and would continue to operate stores normally for now.
The buyout bid is coming from Sears Chairman Edward Lampert. Sears Holding Company rejected Lampert’s original offer but gave him time to submit a new bid during Tuesday hearings before Judge Robert Drain sitting in the U.S. Bankruptcy Court for the Southern District of New York.
Lampert must post a $120 million deposit by 4 p.m. (Eastern Standard Time) Wednesday to keep his bid alive, according to multiple media sources.
Failing that, liquidation would likely mean the sell-off of approximately 500 stores including the venerable retail institution at 3801 East Foothill Blvd. The East Pasadena store has been a prominent presence since it opened its doors in 1958.
“Wow. That would not be a good outcome, if only because it would be very difficult to find another tenant for that space,” said Pasadena Chamber of Commerce President Paul Little.
He observed that Sears is a good company with reputable product and knowledgeable sales force, but was unable to adjust and survive. Little estimated there are some 200 employees at the local Sears outlet.
“It’s a challenge that every bricks-and-mortar space is facing in the age of online purchasing and free next day delivery,” said Little. “So it’s going to be curious to see, if that store closes, what the space might be used for. It’s a valuable piece of real estate.”