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Corporate Responsibility

MFC

Manulife Investment Management has agreed to acquire CQS, a multi-sector alternative credit manager with approximately $13.5 billion in assets under management. The acquisition will enhance the global investment solutions for clients of both firms and allow Manulife to scale its distribution footprint. CQS will continue to be led by its current CEO and Senior Partners, and the CQS brand will be co-branded with Manulife. The transaction is expected to close in early 2024, subject to regulatory approvals, with financial terms not disclosed. Lord Hintze's Directional Opportunities Fund is not included in the deal.

Portfolio Pulse from Benzinga Newsdesk

November 15, 2023 | 2:10 pm

JNJ

Ethicon, a Johnson & Johnson MedTech company, announced the approval of ETHIZIA Hemostatic Sealing Patch, designed to stop bleeding in surgeries. ETHIZIA is unique for being equally active on both sides and has shown to stop bleeding six times faster than the leading Fibrin Sealant Patch in clinical trials. It will launch in EMEA in Q1 2024, with plans for North America, APAC, and LATAM. Ethicon acquired GATT Technologies B.V. in May 2022, enhancing its portfolio with synthetic polymer technology for surgical bleeding and leak challenges.

Portfolio Pulse from Benzinga Newsdesk

November 15, 2023 | 2:07 pm

WISH

ContextLogic Inc. (Wish) has launched WishPost Smart Parcel, a Logistics as a Service product aimed at providing efficient shipping solutions for non-Wish merchants. The service leverages Wish's global logistics network, offering end-to-end delivery for small parcels. Initially, it will support shipments from China to several key destinations, including the US and various European and Asian countries. This follows Wish's introduction of flat rate shipping earlier in the year.

Portfolio Pulse from Benzinga Newsdesk

November 15, 2023 | 2:06 pm

DIS

Activist investor ValueAct Capital has been accumulating a significant stake in The Walt Disney Company (DIS) since the summer, during the Hollywood strikes. ValueAct, known for its corporate governance focus, is in dialogue with Disney's management and considers Disney's theme parks and consumer products businesses to be worth low $80s per share on their own. ValueAct's involvement has historically led to increased profitability and stock prices in other companies. Disney's current market value is $167 billion, and the company has announced an aggressive cost-cutting plan. ValueAct's history of board involvement and strategic initiatives in other companies suggests potential for a similar impact at Disney, especially with the ongoing proxy fight with Nelson Peltz and Trian Partners.

Portfolio Pulse from Benzinga Newsdesk

November 15, 2023 | 2:05 pm

SCLX

Scilex Holding Company has announced the issuance of a new U.S. patent for its lead product ZTlido, a lidocaine-containing patch for pain relief. The patent strengthens Scilex's IP position and is expected to provide barriers against competitors and support long-term growth.

Portfolio Pulse from Benzinga Newsdesk

November 15, 2023 | 2:04 pm

RMNI

Pacific Textiles has chosen Rimini Street, Inc. (NASDAQ: RMNI) for support of its SAP S/4HANA system, leading to significant IT budget savings and improved system uptime. Rimini Street provides comprehensive enterprise software support and is a partner to Oracle, SAP, Salesforce, and AWS. Pacific Textiles, a major textile manufacturer, required extensive customizations for its SAP software, which is critical for their operations. Dissatisfaction with SAP's post-implementation support led them to switch to Rimini Street, which offers faster and more comprehensive service, allowing Pacific Textiles to allocate resources towards growth and a new data lake architecture.

Portfolio Pulse from Benzinga Newsdesk

November 15, 2023 | 2:01 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

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

ALAR

Alarum Technologies Ltd. (ALAR), through its subsidiary NetNut Ltd., has been granted a U.S. patent for an innovative anonymous proxying method. The patent, No. 11,818,104, enhances traditional proxy services by using a 'reflector' method that avoids typical bottlenecks and security risks, providing a faster and more secure internet connection. This development strengthens Alarum's intellectual property portfolio and market position, offering a competitive advantage in internet access and web data collection.

Portfolio Pulse from Benzinga Newsdesk

November 15, 2023 | 1:27 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