Streetbeat News

Acquisitions Mergers

SYT

SYLA Technologies has agreed to acquire 2,158,800 shares from four shareholders of RIBERESUTE, aiming to become its largest shareholder by mid-January 2024. Alongside the share acquisition, SYLA has entered into a Basic Agreement on Business Alliance with RIBERESUTE to negotiate a business alliance involving property transactions, marketing, and new product development. The agreement also restricts RIBERESUTE from entering into capital alliances or facilitating share purchases with third parties without SYLA's consent until March 31, 2024.

Portfolio Pulse from Benzinga Newsdesk

November 15, 2023 | 2:02 pm

INMB

INmune Bio Inc. (NASDAQ:INMB) has expanded its Phase II clinical trial for Alzheimer's Disease to Europe and received a $2.8M cash refund from an Australian R&D tax incentive. The trial, which is already enrolling patients in Australia, Canada, and the UK, has shown promising results in a prior Phase I trial with decreases in neuroinflammation and improvements in brain structure. The EU expansion is part of a strategy to prepare for a global Phase III trial. The Australian tax refund will be reinvested into the company's clinical programs.

Portfolio Pulse from Benzinga Newsdesk

November 15, 2023 | 2:02 pm

KNTE

SLDB

SPRC

SciSparc's treatment shows positive impact on Alzheimer's agitation, causing its stock (SPRC) to surge by 106%. Foresite Capital Fund is considering an acquisition of all outstanding shares of Kinnate Biopharma (KNTE), leading to a 54% stock increase. Solid Biosciences (SLDB) sees a 47% rise after FDA clearance for its Duchenne muscular dystrophy gene therapy candidate.

Portfolio Pulse from ryanfaloona@benzinga.com

November 15, 2023 | 1:48 pm

MOND

Mondee Holdings, Inc. (NASDAQ:MOND) has acquired Purplegrids, an AI company specializing in enterprise AI platforms. The acquisition, completed on November 13th in an all-share transaction, aims to enhance Mondee's AI capabilities in the travel sector. Purplegrids' founders and their team, with backgrounds from companies like Apple and PayPal, will join Mondee. The acquisition is expected to strengthen Mondee's AI travel platform and maintain its first-mover advantage in AI within the travel industry.

Portfolio Pulse from Benzinga Newsdesk

November 15, 2023 | 1:36 pm

PAVS

Paranovus Entertainment Technology Ltd. (NASDAQ:PAVS) has signed a software development agreement with BlueLine Studios Inc. to develop the AI-generated content game, Hollywood Sunshine. BlueLine, a portfolio company of Caravan Digital L.P., will work on creating a social gaming platform with celebrity involvement. Paranovus will pay up to $1.9 million in development fees and retain exclusive rights to the project, excluding background technology. The PC version is expected in Q2 2024, with an iOS version potentially following in Q3 2024. The partnership aims to leverage increasing demand for AIGC in the gaming industry. Paranovus is also considering acquiring BlueLine but is currently prioritizing the development project.

Portfolio Pulse from Benzinga Newsdesk

November 15, 2023 | 1:34 pm

FEMY

PMCB

PharmaCyte Biotech, Inc. has invested $5 million in Femasys, Inc., a biomedical company focused on women's health. This investment is part of PharmaCyte's strategy to utilize its cash position to create shareholder value. PharmaCyte's interim CEO, Josh Silverman, will join Femasys' Board of Directors. Femasys is developing a portfolio of in-office solutions for women's health, including a late-stage product candidate for permanent birth control and FDA-cleared infertility treatment and diagnostic products.

Portfolio Pulse from Benzinga Newsdesk

November 15, 2023 | 1:34 pm

VEON

VEON Ltd. has reached a $100 million deal with Summit for the partial sale of its Bangladesh towers portfolio. The agreement includes a long-term service partnership and involves the transfer of one-third of Banglalink's tower portfolio.

Portfolio Pulse from Benzinga Newsdesk

November 15, 2023 | 1:28 pm

ACN

Accenture (NYSE:ACN) has invested in Vū Technologies, a company specializing in virtual production for immersive experiences. Vū's network of virtual studios across North America has worked with Amazon, CBS Sports, and Disney. The investment, terms undisclosed, was made through Accenture Ventures' Project Spotlight, aiming to support disruptive enterprise technologies. Vū's capabilities include real-time rendering, motion capture, and AI tools, offering clients cost-effective and environmentally friendly production options.

Portfolio Pulse from Benzinga Newsdesk

November 15, 2023 | 1:09 pm

ASST

Ternary Developments and Options Swing have been acquired by Asset Entities, a Dallas-based digital marketing firm. The terms of the deal were not disclosed. Jason Lee, founder and CEO of both Ternary and Options Swing, will join Asset Entities as the chief technology officer. Ternary specializes in SaaS applications, while Options Swing is an educational community for options trading. The acquisition was a cultural and technological fit, according to Lee, who initiated the conversation with Arshia Sarkhani, founder and CEO of Asset Entities.

Portfolio Pulse from Neil Dennis

November 15, 2023 | 1:00 pm

BABA

JD

Alibaba Group Holding Limited (NYSE:BABA) stock is up in sympathy with JD.Com, Inc (NYSE:JD) despite JD's mixed Q3 results, with revenue missing but earnings beating estimates. The China Securities Regulatory Commission (CSRC) is scrutinizing Alibaba's logistics arm, Cainiao Network Technology, for details on its business dependency on Alibaba and plans for spin-off listings of Alibaba's other businesses. Cainiao, which has been approved for a Hong Kong IPO, is being questioned about its shareholder structure, compliance with regulations, and its relationship with Alibaba.

Portfolio Pulse from Anusuya Lahiri

November 15, 2023 | 12:57 pm