Conejo Valley
CAMARILLO
Kennedy Wilson plans to break ground this quarter on a 589-unit master-planned community on a 32-acre parcel owned by and adjacent to California State University – Channel Islands. The firm will construct a residential community comprised of 310 market-rate apartments, 109 for-sale townhouses and 170 income-restricted senior apartments, as well as amenities that will also serve the university. The project, which has a 2024 completion date, represents the continuation of a seven-year public-private partnership between Kennedy Wilson and CSUCI that in 2016 saw Kennedy Wilson acquire a 386-unit apartment community and 15,000 square feet of retail from CSUCI in the University Glen development adjacent to campus.
THOUSAND OAKS
Atara Biotherapeutics will partner with French pharmaceutical company Pierre Fabre for Tab-cel, Atara’s off-the-shelf immunotherapy treatment for Epstein-Barr virus. The partnership will cover sales in Europe, the Middle East, Africa, and other emerging markets. Epstein-Barr virus is a member of the herpes virus family that affects a person’s blood and bone marrow. The terms of the agreement will see Atara receive a $45 million upfront payment and up to approximately $320 million in further regulatory and sales milestones payments. Double-digit tiered royalties will also be given to Atara as a percentage of net sales. Atara will retain full rights to Tab-cel in other major markets such as North America, Asia Pacific, and Latin America. “Our companies’ complementary capabilities will expand access to Tab-cel, a potentially transformative investigational allogeneic off-the-shelf T-cell immunotherapy, to patients worldwide who suffer from EBV+ (post-transplant lymphoproliferative disease) and other EBV-driven cancers,” Pascal Touchon, Atara’s president and chief executive, wrote in a statement.
Teledyne Flir has launched its ION M640X tactical quadcopter drone, a 4-lb. unmanned aircraft. The subsidiary of aerospace, marine and imaging products manufacturer Teledyne Technologies Inc. said the new drone will provide the U.S. military and other government customers with best-in-class capabilities for their missions. “The ION M640x builds on our unique position as a domestic provider of unmanned systems and sensing technology and boasts high-resolution infrared imaging, smart object tracking, laser illumination and industry-leading support and service,” Thomas Rambo, senior director of Unmanned and Integrated Solutions at Teledyne Flir, said in a statement.
WESTLAKE VILLAGE
MannKind Corp. disclosed that a therapy it had developed with United Therapeutics Corp. focused on a lung-based delivery system for a drug called Tyvaso DPI that treats pulmonary arterial hypertension was rejected by the Food and Drug Administration. “The complete response did not pertain to MannKind, and no issues were cited by the FDA as it relates to MannKind’s facility in Connecticut for manufacturing.” Michael Castagna, MannKind’s chief executive, added: “We continue to build pre-launch inventory of Tyvaso DPI and look forward to supporting United Therapeutics’ efforts in securing approval of Tyvaso DPI in the coming months.”
San Fernando Valley
SYLMAR
Specialty construction company Tutor Perini Corp. has been awarded a government construction contract valued at approximately $178 million to begin a capacity correction project at the Friant-Kern canal for a 2024 completion. The joint venture between Tutor Perini and Brosamer & Wall Inc. of Walnut Creek was awarded by the Interior Department’s Bureau of Reclamation and is expected to begin construction next month. The Friant-Kern Canal delivers water to one million acres of farmland and provides drinking water to thousands of San Joaquin Valley residents. The canal begins at the Friant Dam, a reservoir on the San Joaquin River north of Fresno and flows 152 miles south to the Kern River near Bakersfield.
UNIVERSAL CITY
In what may have been the San Fernando Valley’s largest public gathering since the pandemic, up to 340 business and civic leaders attended the Business Forecast Conference Oct. 15 at the Hilton Universal City hotel. The conference, put on by the Valley Industry and Commerce Association, featured an economic forecast in the morning followed by panel discussions on such topics as transportation, tourism and back-to-work issues, and ending with a luncheon featuring a keynote talk by Tom Mone, the chief executive officer of OneLegacy, an organ and tissue donation nonprofit. Stuart Waldman, president of VICA, said 342 registered for the event, perhaps making it the largest such gathering in the Valley since the pandemic.
WOODLAND HILLS
A rendering has emerged for Kaplan Cos.’ designs to transform the site of the shuttered Fry’s Electronics store in Woodland Hills into a mixed-use complex featuring apartments, a hotel and retail space. The District at Warner Center complex would rise on the 8.8-acre property at 6100 N. Canoga Ave. Kaplan Cos., which first submitted the redevelopment project with the city of Los Angeles last year, is currently seeking the approval to build 852 apartment units, a 204-key hotel and parking to accommodate some 1,400 vehicles. The entire project would cover 1.1 million square feet. Designed by AO, District at Warner Center would be comprised of a pair of eight-story apartment buildings and fronted by a 12-story hotel tower along Canoga Avenue. Kaplan acquired the property last year for $42 million. District at Warner Center would be constructed in three phases across four years.
Tri-Cities
BURBANK
Walt Disney Co. is delaying the release of five upcoming Marvel superhero films and the next installment of the “Indiana Jones” franchise, according to media reports. Sources with the Burbank entertainment and media giant said that the decision was for production reasons and is not related to box office returns. Changes in the release schedule include Marvel superhero movies “Dr. Strange in the Multiverse of Madness,” moving from March 2022 to May 2022; “Thor: Love and Thunder,” moving from May to July of next year; “Black Panther: Wakanda Forever,” moving from July 2022 to November of next year; “The Marvels,” a sequel to the 2019 hit “Captain Marvel,” moving from November 2022 to February 2023; and “Ant-Man and the Wasp: Quantumania,” moving from February 2023 to July of that year. In addition, the untitled fifth “Indiana Jones” film moves from July 2022 to June 2023.
The historic Warner Bros. Ranch lot will get a $500 million makeover from new owners Worthe Real Estate Group and Stockbridge. The upgrade to the 32-acre studio facility — located a mile north of Warner Bros.’ main 100-acre studio lot — will include 16 new soundstages, multi-level parking structure, mill space and a 320,000-square-foot office complex. The project will total 926,000 square feet in what Worthe President Jeff Worthe, in a statement, called “the largest studio development in the country when the project begins development next year.” The Ranch lot is at 411 N. Hollywood Way.
GLENDALE
Dine Brands Equity Inc.-owned IHOP has launched a new line of sandwich melts on its all-day dine-in and to-go menus. “The introduction of our new Hand-Crafted Melts menu, featuring delicious and versatile sandwiches to enjoy with friends and family at your local IHOP, on-the-go, or at home, is a part of our ongoing commitment to our lunch and dinner menu,” Kieran Donahue, chief marketing officer of IHOP, said in a statement. The new Hand-Crafted Melts sandwich campaign debuted seven new items, with toppings including ham with eggs and pulled pork with macaroni and cheese.
Online legal technology company LegalZoom.com Inc. has teamed up with the National Basketball Association for a multiyear partnership that will begin with a $6 million initiative focused on providing capital and other resources to small businesses throughout the country. The initiative, named “Fast Break for Small Business,” will use the funds to remove barriers often faced by minorities, women, immigrants and the LGBTQ+ community. “Our commitment to promote social equality and economic inclusion align perfectly with the values of the NBA, WNBA and NBA G League,” Dan Wernikoff, LegalZoom’s chief executive, said in a statement.