From Carl Icahn’s point of view, Illumina Inc.’s desired reintegration of its former spinoff is more a poisoned chalice than a holy Grail. In his opening salvo to a proxy fight, Icahn published an open letter March 13 to other Illumina shareholders referencing the “extreme displeasure” of investors with Illumina’s “reckless” determination to acquire Grail Inc., despite European regulators’ strong opposition to the deal. Read More
As the aftershocks of two U.S. bank failures rattled global markets, the Biden administration rushed to calm the nerves of the world and to prevent an even bigger tremor. “The banking system is safe,” President Joe Biden said March 13, as he assured companies and individuals who had accounts with Silicon Valley Bank or Signature Bank that they would have access to all their deposits now that the federal government has taken over the failed banks – including deposits exceeding the $250,000 protected by the FDIC. Read More
The U.K. arm of Silicon Valley Bank (SVB) is to be acquired by HSBC UK Bank plc for a symbolic £1, after senior ministers and the Bank of England worked all weekend on a rescue package. The acquisition is to complete immediately, averting what the U.K. government had acknowledged would be a crisis for the biotech and tech sector. Read More
Siyi Intelligence Technology Co. Ltd. raised nearly $15 million in a series A funding round to speed up the development of its smart rehabilitation products and of its neurorehabilitation solutions and build a digital rehabilitation service platform. Read More
Tests for early prediction and diagnosis of bladder cancer were unveiled recently at the European Association of Urology annual meeting in Milan. Read More
Med-tech happenings, including deals and partnerships, grants, preclinical data and other news in brief: Dnanudge, Mylab Discovery, Noah Medical, Occlutech. Read More
Regulatory snapshots, including global submissions and approvals, clinical trial approvals and other regulatory decisions and designations: PADM Medical. Read More
