Streetbeat News

Acquisitions Mergers

GOOGL

Character.ai is shifting its focus from developing large language models to enhancing consumer products, following the departure of its founders to Google in a $2.7 billion deal. The high costs of training frontier models prompted this strategic pivot.

Portfolio Pulse from Benzinga Neuro

October 02, 2024 | 1:41 pm

TNFA

TNF Pharmaceuticals has secured a strategic equity investment from Prevail Partners, LLC, priced at a 40% premium to the market. Prevail InfoWorks, Inc. will act as the Clinical Research Organization partner, ensuring TNF Pharmaceuticals is fully funded for clinical trials for the next two years.

Portfolio Pulse from Benzinga Newsdesk

October 02, 2024 | 1:15 pm

ELYM

Eliem Therapeutics is rebranding to Climb Bio, Inc. and will trade under the new symbol 'CLYM' on Nasdaq starting October 3, 2024. This change aligns with their new focus on immune-mediated diseases after acquiring Tenet Medicines.

Portfolio Pulse from Benzinga Newsdesk

October 02, 2024 | 1:11 pm

LLY

NVO

Eli Lilly is investing $4.5 billion in a new Medicine Foundry in Indiana to advance drug manufacturing and development. This facility aims to combine research and manufacturing, adding to Lilly's significant investments in the U.S. and positioning it to outpace competitors like Novo Nordisk.

Portfolio Pulse from Vandana Singh

October 02, 2024 | 1:06 pm

JOBY

TM

Toyota is set to invest $500 million in Joby Aviation to support the certification and commercial production of Joby's electric air taxi. The investment will be made in two tranches, with the first closing later this year and the second in 2025. This will bring Toyota's total investment in Joby to $894 million.

Portfolio Pulse from Benzinga Newsdesk

October 02, 2024 | 12:46 pm

NITO

N2OFF, Inc. (NASDAQ:NITO) announced strategic initiatives to enhance shareholder value, including a potential spin-off of its cleantech operations, an acquisition in computational drug discovery, and securing a €6 million credit line.

Portfolio Pulse from Benzinga Newsdesk

October 02, 2024 | 12:38 pm

ALT5

ALYEA

ALT5 plans to separate into two independent publicly traded companies, focusing on fintech and biotech. The fintech segment will remain as ALT5, while the biotech segment will become Alyea Therapeutics Corporation, focusing on non-addictive pain management therapies.

Portfolio Pulse from Benzinga Newsdesk

October 02, 2024 | 12:35 pm

III

Information Services Group (ISG) has sold its automation unit to UST for $27 million in an all-cash transaction. This move is expected to sharpen ISG's focus, strengthen its balance sheet, and enhance shareholder value.

Portfolio Pulse from Benzinga Newsdesk

October 02, 2024 | 12:35 pm

IGV

ORCL

TRFK

Oracle plans to invest over $6.5 billion in a new cloud region in Malaysia to meet the growing demand for AI and cloud services. This expansion aims to boost Malaysia's digital economy and drive AI innovation, while expanding Oracle's presence in the Asia Pacific region.

Portfolio Pulse from Lekha Gupta

October 02, 2024 | 12:09 pm

IROH

Iron Horse Acquisitions has announced a business combination agreement with China Food Investment, valuing the combined company at $523 million. The transaction is expected to close in Q1 2025, with a planned name change to China Food Investment.

Portfolio Pulse from Benzinga Newsdesk

October 02, 2024 | 12:05 pm