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Toshiba Flash Unit Sale Gets Final Needed Approval

China Gives Nod to $18B Deal to Kingston GroupChinese regulators approved the $18 billion sale of Toshiba Corp.’s lucrative flash memory unit to a consortium that includes Fountain Valley-based Kingston Technology Co.

Irvine Biotech Gets $40M

PeproMene Bio Inc. raised $40.2 million from 17 investors in a Series B funding round, a June 11 Securities and Exchange Commission filing said.

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ReShape Raises $1.5M

San Clemente-based ReShape Lifesciences Inc. (Nasdaq: RSLS) raised nearly $1.5 million from several institutional investors for the purchase of 374,572 shares of its common stock at $3.92 per share, according to filings with the Securities and Exchange Commission.

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NB Maker Dinged for Lead in Baby Food

State Attorney General Xavier Becerra named Newport Beach food manufacturer Graceleigh Inc. in a lawsuit last week for selling toddler formula with high levels of lead.

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Billionaire Icahn Takes Allergan Stake

Following a letter from activist investors Appaloosa LP in Miami, Fla., and New York-based Senator Investment Group LP to Allergan PLC’s board of directors that recommends changes—including separating the chief executive and chairman roles—billionaire Carl Icahn also threw his hat in the game, taking an undisclosed position in Allergan, according to Bloomberg.

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ChromaDex Appoints CMO

ChromaDex Corp. (Nasdaq: CDXC) named Lisa Bratkovich chief marketing officer, effective June 4.

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May Auto Sales Up

Nearly all of Orange County’s automakers reported an uptick in sales for May while year-to-date sales remain mixed.

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Allergan Seeks to Shed Two

In response to its lagging stock, Allergan Plc (NYSE: AGN) will seek buyers for both its women’s health and infectious disease units. CEO Brett Saunders confirmed the unanimous board decision in an interview with Reuters on Wednesday.

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Evolus Names CFO

Evolus Inc. (Nasdaq: EOLS) appointed Lauren Silvernail as chief financial officer and executive vice president of corporate development.

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ICU Talks Merger with Smiths Unit

British engineering firm Smiths Group plc (LON: SMIN) confirmed it is in “very early stage discussions about a potential merger of its medical division with ICU Medical Inc. (Nasdaq: ICUI),” according to a company press release.

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KIA names COO

Irvine-based automaker Kia Motors America named Michael Cole chief operating officer and executive vice president on Tuesday. He succeeds Michael Sprague, who left the post last month.

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DPW Buys Israeli Firm

Newport Beach-based DPW Holdings Inc. (NYSE American: DPW) said subsidiary Coolisys Technologies Inc. bought Enertec Systems 2001 Ltd. of Israel for $4.8 million.

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Mitsubishi Electric US Names First COO

Mitsubishi Electric US Inc. in Cypress named Mike Corbo to the newly created position of chief operating officer.

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New Can in 7-Eleven Test

A “self-chilling” beverage can created by an Irvine-based firm is on shelves in 15 Los Angeles 7-Eleven stores.

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Airport, OC Businesses Back Live Music at JWA

John Wayne Airport and local businesses will expand a pilot program that brings live music to ticketed passengers in secure areas waiting for or arriving on flights at the facility.

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FDA Sets Evolus Back

Irvine-based Evolus Inc.’s stock (Nasdaq: EOLS) have taken a rollercoaster ride this week. Shares earlier buoyed by news of its new chief executive dove today when it gave updates related to the regulatory progress on the pending approval of its drug candidate DWP-450.

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