Streetbeat News

Partnerships

BWA

BorgWarner, a global leader in sustainable mobility solutions, will supply a new integrated drive module (iDM) to a leading Chinese OEM. The iDM, which enhances the overall hybrid driving experience through improved efficiency, is expected to start production in Q2 2024 at BorgWarner's Wuhan, China plant.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 11:06 am

NRBO

NeuroBo Pharmaceuticals has entered into a term sheet with MThera Pharma to out-license NB-01. The terms of the agreement have not been disclosed.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 11:05 am

MDWD

VCEL

MediWound has delivered the first lot of NexoBrid to Vericel for the U.S. market in June 2023. However, due to a deviation with a third-party testing lab, Vericel is unable to release the product commercially. Both companies and the FDA are working to resolve the issue. Future manufacturing of NexoBrid will not be impacted as the test will be conducted by MediWound. Vericel expects to begin commercial sales of NexoBrid in Q1 2024. The FDA's evaluation will not affect the $3 million committed by BARDA for NexoBrid replacement.

Portfolio Pulse from Charles Gross

August 04, 2023 | 11:05 am

ORMP

Oramed Pharmaceuticals Inc. (NASDAQ:ORMP) has signed a non-binding term sheet with Hefei Tianhui Biotech Co., Ltd. (HTIT) to establish a joint venture (JV) based on Oramed's oral drug delivery technology. The JV will focus on the development and worldwide commercialization of products based on Oramed's oral insulin and POD™ pipeline and HTIT's manufacturing capabilities. HTIT will invest $60 million and Oramed will invest $10 million into the JV.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 11:02 am

CELH

HUGE

KO

FSD Pharma Inc. (NASDAQ:HUGE) has signed an agreement with Celly Nutrition Inc. to launch UNBUZZD, a rapid alcohol detoxification drink. The launch will be led by former executives from Coca-Cola (NYSE:KO) and Celsius Holdings (NASDAQ:CELH). FSD Pharma will receive a 7% royalty on revenue from Celly Nutrition until a total of $250 million has been paid, after which the rate will be reduced to 3%. FSD Pharma has also been issued 100 million common shares in Celly Nutrition and an anti-dilution warrant.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 11:01 am

PLL

Piedmont Lithium (NASDAQ:PLL) announced the first commercial shipment of spodumene concentrate produced by North American Lithium, a joint venture between Piedmont (25%) and Sayona Mining (75%). The initial shipment was 20,500 metric tons.

Portfolio Pulse from Charles Gross

August 04, 2023 | 10:54 am

EWG

VOD

Vodafone Germany and 1&1 Mobilfunk GmbH have agreed on a long-term national roaming partnership. This will provide 5G mobile coverage nationwide to 1&1's customers from the second half of 2022.

Portfolio Pulse from Charles Gross

August 04, 2023 | 10:53 am

AMGN

IDYA

IDEAYA Biosciences, Inc. (NASDAQ:IDYA) and Amgen (NASDAQ:AMGN) have announced the start of a Phase 1/2 clinical trial evaluating the combination of IDE397 and AMG 193 in patients with MTAP deletion tumors. The trial is sponsored by Amgen and focuses on NSCLC.

Portfolio Pulse from Charles Gross

August 04, 2023 | 10:47 am

COIN

SQ

Block Inc CEO Jack Dorsey has expressed interest in partnering with Coinbase to prioritize the development and adoption of Bitcoin's lightning network. Dorsey has previously criticized Coinbase CEO Brian Armstrong for perceived lack of attention towards Bitcoin and lightning technology. Armstrong responded by assuring Dorsey of Coinbase's commitment to Bitcoin's growth and expressed interest in adding Lightning to their platform.

Portfolio Pulse from Mehab Qureshi

August 04, 2023 | 10:44 am

RKUNY

Rakuten Group (OTC:RKUNY) has signed a memorandum of understanding with OpenAI to explore joint business opportunities. The partnership will focus on integrating OpenAI applications into Rakuten's offerings, including the popular artificial general intelligence (AGI) app chatGPT, APIs of GPT-4 and other AGI models, a speech-to-text transcription service called Whisper, and an AI-based image generation service called Dall.E-2.

Portfolio Pulse from Benzinga Neuro

August 04, 2023 | 10:41 am