Pinnacle Bank, located in Gilroy, announced that Jeffrey D.
Payne has joined the bank as Executive Vice President, Director of
Business Development.
Pinnacle Bank, located in Gilroy, announced that Jeffrey D. Payne has joined the bank as Executive Vice President, Director of Business Development.
“I am very pleased that Mr. Payne has joined Pinnacle Bank’s team of professional bankers. Jeff’s extensive banking experience coupled with his leadership skills make him an excellent addition to Pinnacle Bank. He shares our commitment to providing exceptional service to our clients while supporting the communities we serve. I look forward to working with him,” said Susan K. Black, President and Chief Executive Officer.
Payne, a Gilroy resident, began his career with County Bank and Trust where he advanced to Senior Vice President during his ten year tenure. Through mergers, Payne continued his career with Pacific Western Bank and then Comerica Bank. Prior to joining Pinnacle Bank, he served as Executive Vice President, National Manager, SBA at Comerica Bank. He has achieved loan sales volumes over the last three years exceeding $1 billion and was nationally ranked in the top 10 SBA lenders for the last five years.
“My community is important to me and I am thrilled that I will have the opportunity to assist local businesses with their banking needs. With the solid foundation Pinnacle Bank has established and the goals that they have achieved I am delighted to join their team and help everyone Reach Higher,” Payne said.
Crown Books to close
Crown Books, a discount book store located in the old Linens N Things building in Gilroy, will be closing its doors in the middle of March. The store, which opened in November, will be holding a liquidation sale with books marked down as much as 80 percent. Owner Ward Albright will be taking any remaining inventory down to his five southern California location, which he hopes to keep open.
Aragen develops protein cells
Bone Biologics, Inc. announced today that it’s contract research and development organization, Aragen Bioscience, located in Morgan Hill, has completed development of a recombinant cell line and initial production process for UCB-1 (NELL-1) recombinant protein.
Bone Biologics has been developing the protein as a platform technology since 2004, leveraging the previous ten years of research in the lab performed by the founding scientists at UCLA. The mechanism of action is not only identified as to how it works, but why, through this exhaustive research effort. This platform technology is combined with DBX(R) demineralized bone matrix to promote bone growth in spinal fusion.
Aragen has produced UCB-1 (NELL-1) at a purity level Bone Biologics believes is sufficient for IDE submission. Results in animal trials using that protein have exhibited rapid bone growth, high quality of bone, and no ectopic bone growth. Efforts will now focus on scaling that process up to produce clinical grade product.
The platform technology will be subject to the FDA review and approval process, including clinical trials. It is not currently approved for use in humans.
Rick Srigley, CEO of Aragen Bioscience said, “This project has been exciting for us. UCB-1 (NELL-1) is a complex and challenging protein, but we believe that the cell line and process we have developed for Bone Biologics can be scaled up to provide protein at purity and productivity levels sufficient for Phase I clinical studies.” William Jay Treat, Ph.D., President of Southwest BioProcessing Associates LLC, who has extensive experience in cell line development, scale-up optimization and commercial manufacturing provided key guidance during this process to Bone Biologics, said, “The professionalism, expertise, and awareness of keeping to a timeline by Aragen has developed a manufacturing process that is suitable to move to the next phase of UCB-1 (NELL-1) manufacturing.
Aragen Biosciences, Inc. is a contract research and development organization in Morgan Hill, California. Aragen specializes in recombinant cell line and hybridoma development, cell culture and purification process development and production, cell-based assays and custom immunological services. www.aragenbio.com
