Under terms of the agreement, Carlsbad-based Invitrogen will invest $3.4 million in Illumina's San Diego facility.
CARLSBAD – Biotechnology companies Illumina and Invitrogen said they have formed an alliance for the manufacture and distribution of synthetic pieces of DNA, known as oligonucleotides, which are used in genetic research.
Profits from collaboration products will be split equally between the companies.
Isis earns milestone payment
CARLSBAD – Isis Pharmaceuticals said it earned a $3 million milestone payment from New York-based Eyetech Pharmaceuticals in connection with the approval of a drug for age-related macular degeneration.
In 2002, Eyetech licensed patents from Carlsbad-based Isis that were necessary to develop the drug. Isis will earn royalties in the low single digits on sales of Macugen.
MarketBuilding lands contract
RANCHO BERNARDO – MarketBuilding Team of Rancho Bernardo has signed on to develop a branding campaign for Carlsbad-based Grey Eagle Aviation, which specializes in aircraft rentals and operates a flight academy.
MarketBuilding Team is a marketing communications agency owned by author Rob Weinberg, former principal of New York City-based W.L. Harvey Marketing Communications.
Ashworth revenue figures up
CARLSBAD – Ashworth Inc., a golf apparel maker, reported that fourth-quarter revenue increased by almost 50 percent.
For the quarter that ended Oct. 31, the Carlsbad company reported consolidated net revenue of $48.3 million, compared with $32.3 million for the fourth quarter of fiscal 2003.
Net income for the quarter was $1.9 million, or 14 cents per diluted share, compared with consolidated net income of $877,000, or 7 cents per diluted share, in the same quarter of the prior year.
For fiscal 2004, consolidated net revenue was $173.1 million, a 15 percent increase from fiscal 2003.
Net income for fiscal 2004 rose to $8.2 million, or 60 cents per diluted share, from $7.3 million, or 56 cents per diluted share, in fiscal 2003.
Callaway begins CEO search
CARLSBAD – Callaway Golf Co. officials said they are beginning the search for a new chief executive to replace current CEO William C. Baker.
Baker was appointed to the position Aug. 2 when then-CEO Ron Drapeau resigned after the Carlsbad golf company reported weak earnings.
Callaway said that Baker, who had been referred to as an interim CEO until October, will lead the search for his successor.
Baker also serves as chairman of the board and has been a director since 1994.
Callaway Golf said that as soon as the 71-year-old Baker was appointed CEO, he began a complete business review and revision of the company's product offerings and launch dates for 2005. With that review completed, Callaway said the board of directors determined that it was time to start a formal search for Baker's successor.
Business openings
Noodles & Company opened Dec. 13 at the Creekside Marketplace on Grand Avenue in San Marcos. The restaurant serves noodle dishes with influences from around the world, including Thailand, Japan, Germany and Italy. The 2,300-square-foot restaurant is the third location in California. The other stores are in Encinitas and Chula Vista.
Taco Del Mar has opened at 14057 Stowe Drive in Poway. The owners of the franchise are Bertha and John Boyken. The sit-down restaurant serves Mexican food in a fast, casual atmosphere.
The Iron Horse has opened at 201 S. Highway 101, Solana Beach. The design center specializes in furniture, doors, kitchens, finishes and interior design. Bruce Bird is the owner.
North business items may be submitted to julie.pendray@uniontrib.com or mailed to The San Diego Union-Tribune, Attn: Business Briefs, 800 W. Valley Parkway, Suite 114, Escondido, CA 92025.
