– Conejo Valley Thousand Oaks ImmunGene, a biotech firm developing anti-body proteins for cancer drugs, has landed $9 million in funding. The firm received the investment from Ally Bridge Group, a Hong Kong investment company. In conjunction with the financing, Frank Yu, chief executive of Ally Bridge, will join the ImmunGene board of directors. The company, which holds a number of molecular patents, will use the $9 million to advance its research and fund studies. ImmunGene hopes to begin clinical trials on its first drug in the next 12 to 18 months. – Antelope Valley Lancaster The city government is collaborating with two solar companies on a 16-acre solar farm that will generate four megawatts of electricity. The project with SolarCity Corp. of San Mateo and US Topco Energy will be the first phase of a plan to generate 200 megawatts of energy for the city. SolarCity will design, build and maintain the solar farm. US Topco, owned by Taiwanese firm Topco Scientific, is the developer of the project and supplies the solar panels. The farm will use 14,000 solar panels and can generate enough power for 550 homes. Lancaster was named one of L.A. County’s Most Business Friendly Cities by the Los Angeles County Economic Development Corp. The city received the Eddy Award in the category of cities with a population of greater than 50,000. The other finalists were Santa Monica, Glendora, Paramount and Pico Rivera. The LAEDC recognized the city for keeping costs and fees down to attract new businesses, its downtown revitalization project and a streamlined permit process. Lancaster was previously recognized for the same award in 2007. – Simi Valley Simi Valley The Simi Valley Town Center has begun the first phase of an extensive renovation for the regional mall. Owners Walton Street Capital LLC of Chicago and Alberta Development Partners LLC of Greenwood Village, Colo. announced plans to build a 36,789-square-foot, 10-screen Studio Movie Grill. The upscale Dallas chain offers in-theatre dining. The mall, at 1555 Simi Town Center Way, opened in 2005 and is anchored by a Macy’s. – San Fernando Valley Burbank Burbank has decided not to appeal a ruling that blocked the opening of a new Wal-Mart Stores Inc. outlet. The decision comes after L.A. County Superior Court Judge Allan Goodman ordered the city to rescind permits allowing the Bentonville, Ark. retailer to open a 143,000-square-foot store in the Empire Center. The company had proposed the supercenter at the site of a closed Great Indoors home furnishing store. Burbank granted permits without requiring an environmental review, prompting a lawsuit. Wal-Mart plans to file an appeal. Glendale The owners of a Glendale post-production house pleaded guilty this month to embezzling from their employees’ retirement plan and failing to pay taxes. Ronald Burdett, 75, and Karen Burdett, 70, face up to 10 years in prison and a fine of at least $500,000 when sentenced in March. The Burdetts were alleged by the IRS to have embezzled $102,327 from the plan. In addition, between September 1996 and July 2007, the two failed to pay $971,000 in withheld trust fund taxes. They also took $585,000 from the primary bank account of their business and used the funds to pay bills, make retail purchases and improve their Shadow Hills home. Calabasas Cheesecake Factory Inc. will for the first time offer its desserts through a third-party online retailer. The Calabasas restaurant chain reached an agreement to sell its cheesecakes through Harry & David Holdings Inc., a leading catalogue and online-gift company. Nine varieties of the cheesecakes will be offered with a $9.95 surcharge that includes a dry-ice package and two-day express delivery. The original pumpkin cheesecake and tiramisu cheesecake are being sold for $44.95, while a red velvet cheesecake will sell for $54.95, not including the shipping fee. The company also announced that it has extended the contract of Chief Executive David Overton until April 1, 2015. Sylmar A unit of Tutor Perini Corp. has accused LAX workers of shoddy maintenance in response to allegations the construction firm built a defective runway. The $250 million project was completed in 2007. Los Angeles World Airports sued Tutor and other contractors in October accusing the firm of performing inadequate work. Tutor-Saliba Corp., the unit that performed the work, said it should have been relieved of any maintenance issues in April 2007 and the warranty against its work expired in 2009.
around the valleys
