Monday, December 31, 2018
Bayer’s Monsanto sues lenders over default ‘threats’
Monsanto, which was acquired by Bayer (BAYRY) earlier in 2018 said in a court filing Monday that Wells Fargo (WFC) and Citizens Asset Finance “who hold leases on some company planes may try to claim the takeover placed the contracts in default, even though all payments are current,” According to Bloomberg, Monsanto sued the lenders in New York federal court, “asking a judge to block the lenders from declaring the leases in default.”
https://thefly.com/landingPageNews.php?id=2842243
Adamis Pharma submits U.S. marketing application for naloxone prefilled syringe
Adamis Pharmaceuticals (NASDAQ:ADMP) is up 1% after hours following its announcement that it has filed a U.S. marketing application seeking approval for a single-dose prefilled syringe formulation of opioid overdose agent naloxone.
FDA OKs Portola’s new manufacturing process for Andexxa
The FDA approves Portola Pharmaceuticals’ (PTLA -3.2%) application for its next-generation manufacturing process for anticoagulation reversal agent Andexxa [coagulation factor Xa (recombinant), inactivated-zhzo].
The company says the new process will enable it to scale up production and stock hospitals nationwide.
Management will provided additional details on the commercial launch during its corporate webcast on Tuesday, January 8, 2019, at 10:00 am ET.
Trading, currently halted, will resume at 3:40 pm ET.
Huge Garbage Pile At NYCHA Building Creates Awful Stench
The Department of Sanitation and NYCHA workers arrived on the scene Sunday evening, but not before massive piles of garbage sat around and rotted for days.
“It really stinks. It’s horrible,” Iris Rojas said.
“It smells like a bunch of cabbage and lot of dirty diapers. Nasty,” Bella Rojas added.
The odor was so pungent Iris Rojas rushed her young daughter away in the middle of our interview.
“Cover your nose. Come on, I feel like there’s something in the air,” she said. “We have to get going. It smells.”
People who live here say the collection area on Watson Avenue near Beach Avenue is often unpleasant, but not usually like this.
“I’m not surprised because it’s always very stinky over here. Trash always looks like it’s going to go up into the trees,” Sotomayor Houses resident Jordan Robinson said. “But this is the worst I’ve seen.”
An emergency team of NYCHA and Department of Sanitation workers were on the scene Sunday night, just hours after Bronx Borough President Ruben Diaz Jr. tweeted a video.
Ruben Diaz Jr.@rubendiazjr
“Somebody in City Hall just doesn’t care,” Diaz said. “Have the New York City Housing Authority do their job.”
A NYCHA spokesperson told CBS2’s Roy the trash compactors at the housing complex have been broken, causing the pileup.
In an interview with WNYC Radio on Friday. Mayor Bill de Blasio acknowledged more needs to be done in the new year for NYCHA residents.
“The situation for our public housing residents is not what it should be,” de Blasio said. “It’s unacceptable to me. We made a lot of investments. We’ve made a lot of changes. We have new leadership, but we’ve got to turn the corner in 2019.”
A NYCHA spokesperson said while the machines are being repaired the agency will be keeping a close eye on this garbage collection area to make sure it doesn’t build up like this again.
Aristea Therapeutics Raises $15M to Develop Anti-Inflammatory Drugs
New biopharma company Aristea Therapeutics has raised $15 million from Novo Holdings, the Danish investment company, and secured global rights to an investigational AstraZeneca drug that’s ready for Phase 2 study.
The San Diego, CA, company made its public debut this week after starting up quietly earlier this year.
Aristea expects its lead program, RIST4721, the drug candidate it licensed from AstraZeneca, will enter a Phase 2 clinical trial early next year. The company also plans to develop drugs to tackle serious inflammatory diseases, although it hasn’t identified which it is aiming to treat.
The company’s CEO is James Mackay, an AstraZeneca (NYSE: AZN) veteran who was named president and chief operating officer of San Diego’s Ardea Biosciences following its 2012 acquisition by the UK-based biopharma giant for $1.26 billion.
Mackay later became CEO of Ardea, which had developed a drug for gout, a type of inflammatory arthritis. However, by the time the FDA gave its approval to the drug, lesinurad (Zurampic)—which reduces the abnormally high levels of uric acid associated with gout—AstraZeneca had decided it wasn’t interested in keeping treatments for the disease in its portfolio.
Instead, AstraZeneca in 2016 licensed lesinurad to Cambridge-based Ironwood Pharmaceuticals (NASDAQ: IRWD) for U.S. use and to German drugmaker Grünenthal for Europe and Latin America and began laying off employees in San Diego ahead of a full shutdown planned for early 2018.
Ironwood struggled to sell the drug, and this year said it would end the license agreement.
Novo Holdings has an ownership stake in Danish biotech Novo Nordisk (NYSE: NVO) and manages the Novo Nordisk Foundation’s endowment. As part of the Aristea financing deal, Novo’s Tiba Aynechi and Ken Harrison have joined the company’s board of directors.
Nobilis taps former Memorial Hermann exec as new CEO
https://www.bizjournals.com/houston/news/2018/12/27/houston-health-care-co-taps-former-memorial.html
SunTrust Leads $86M in Financing for $300M Atlanta Seniors Living Project
SunTrust Bank, First Tennessee Bank and Pinnacle Bank have combined to provide $86 million in construction debt to Village Park Senior Living for the first phase of development on a planned $300 million luxury seniors living project in Atlanta, according to information from SunTrust.
SunTrust, in leading the transaction, provided roughly $48 million, while First Tennessee and Pinnacle Bank provided approximately $20 million and $18 million, respectively, according to a spokeswoman for SunTrust. The deal closed in October. (The bank would not provide the exact date.)
The financing for phase two and three of the development has yet to be determined, according to a SunTrust spokeswoman.
“As an industry, we have limited supply and a growing demand for exclusive senior living communities throughout the country,” Village Park Senior Living CEO Tim Gary said in a prepared statement. “The Atlanta population is booming. Many professionals are moving to the city and bringing their parents along with them. This community will deliver on the highest quality of service and care for our residents.”
The project is currently being referred to as Village Park Paces; the formal name hasn’t been announced yet. Construction on phase one of the 9-acre campus, which will be at 3200 Howell Mill Road NW, is scheduled to wrap in spring 2020, according to Village Park’s website. SunTrust indicated that it expects the first phase of development to be completed by fall 2020.
Phase one will see construction of 204 of the 600 planned units—82 independent living, 75 assisted living, 26 memory care units and 21 “city homes” with a separate entrance—as well as most of the project’s common areas.
The development will sport French-inspired architecture with landscaped courtyards and will include a movie theater, a florist, a library, a salon, a wine bar, a sports bar and an outdoor pool.
The typical size of new seniors housing development projects has grown nearly 5 percent this year, and the cost of developing these projects has climbed in lockstep. The total cost of constructing seniors housing this year has increased by just over 5 percent to an average of $298 per square foot, or $270,200 per unit, according to a third quarter report from CBRE.
Since the fourth quarter of 2017, new construction has fallen across all seniors housing segments—independent, assisted living and memory care and skilled nursing—according to a separate third quarter CBRE seniors housing report and survey focused on investor sentiment. Still, investor interest in the sector is strong, as CBRE indicated that many players are showcasing more confidence in the lifestyle-focused segments of independent and assisted living and are planning to grow their respective portfolios through the first half of 2019.
Subscribe to:
Posts (Atom)