Month: April 2022

Stellantis to Consolidate Financial Services in ChinaCompany intends to consolidate its auto financial services in China into a Stellantis wholly owned Auto Finance Company (AFC) Stellantis and DPCA stake in DPCAFC, the 15–year-old auto finance joint venture between Stellantis, DPCA and Dongfeng Group, will be sold to Dongfeng, subject to regulatory approval New structure will align with Dare Forward 2030 ‘asset light business model’ in China and support the new DPCA business modelAMSTERDAM, April 13, 2022 – Following the restructuring of financial services in Europe and the United States, Stellantis today announced PSA Finance Nederland (PFN), a fully owned financing subsidiary of BPF (Banque PSA Finance), and DPCA have entered into an equity transfer agreement with Dongfeng Group, on the basis of which their respective...

SAN DIEGO, April 12, 2022 (GLOBE NEWSWIRE) — Crinetics Pharmaceuticals, Inc. (Nasdaq: CRNX), a clinical-stage pharmaceutical company focused on the discovery, development and commercialization of novel therapeutics for rare endocrine diseases and endocrine-related tumors, announced today the pricing of an underwritten follow-on offering of 5,625,563 shares of its common stock at a price to the public of $22.22 per share. All of the shares to be sold in the offering are to be sold by Crinetics. The gross proceeds to Crinetics from the offering, before deducting the underwriting discounts and commissions and other offering expenses, are expected to be approximately $125.0 million. The offering is expected to close on or about April 18, 2022, subject to the satisfaction of customary closing conditions. Crinetics intends to use the...

LA JOLLA, Calif., April 12, 2022 (GLOBE NEWSWIRE) — MediciNova, Inc., a biopharmaceutical company traded on the NASDAQ Global Market (NASDAQ: MNOV) and the JASDAQ Market of the Tokyo Stock Exchange (Code Number: 4875), today announced that the Phase 2 clinical trial of MN-166 (ibudilast) in hospitalized COVID-19 patients at risk for developing acute respiratory distress syndrome (ARDS) has completed enrollment. Kazuko Matsuda, MD, PhD, MPH, Chief Medical Officer of MediciNova, Inc., commented, “The last enrolled patient’s last visit has been completed. We plan to report the top line efficacy results after the data cleaning process is completed for the database lock.” About the Clinical Trial This study was a multi-center, randomized (1:1), double-blind, placebo-controlled, parallel-group study of MN-166 (ibudilast)...

NOT FOR DISSEMINATION IN THE US OR THROUGH US NEWSWIRE SERVICES Toronto, ON, Canada , April 12, 2022 (GLOBE NEWSWIRE) — Canada Carbon Inc. (the “Company“) (TSX-V : CCB) is pleased to announce a non-brokered private placement of up to 16,000,000 units (each, a “Unit”) at a price of $0.075 per Unit (the “Issue Price”) for aggregate gross proceeds of up to $1,200,000 (the “Offering”). Each Unit shall be comprised of one common share (each, a “Common Share”) in the capital of the Company and one common share purchase warrant (each, a “Warrant”). Each Warrant shall entitle the holder thereof to acquire one Common Share at a price of $0.9375 per Common Share for a period of 60 months from the date of issuance. The Company expects to close the Offering by the end of April, 2022. “As Canada Carbon embarks on an effort to expand...

HEIDELBERG, Germany, April 12, 2022 (GLOBE NEWSWIRE) — Affimed N.V. (Nasdaq: AFMD) (“Affimed” or the “Company”), a clinical-stage immuno-oncology company committed to giving patients back their innate ability to fight cancer, today announced the pricing of its previously announced public offering of 22,500,000 of its common shares at a public offering price of $4.00 per common share. In addition, Affimed has granted the underwriters a 30-day over-allotment option to purchase up to 3,375,000 common shares at the public offering price less underwriting discounts. After deducting the underwriting discounts, the net proceeds of the public offering are expected to be $84.6 million. The offering is expected to close on or about April 18, 2022, subject to customary closing conditions. Jefferies LLC, SVB Leerink, Truist Securities, Inc....

PALO ALTO, Calif., April 12, 2022 (GLOBE NEWSWIRE) — Scilex Holding Company (“Scilex”), a nearly 100% (or over 99.9%) majority-owned subsidiary of Sorrento Therapeutics, Inc. (Nasdaq: SRNE, “Sorrento”), a commercial biopharmaceutical company focused on developing and commercializing non-opioid therapies for patients with acute and chronic pain, announced the appointment of Laura Hamill, an accomplished pharmaceutical and biotechnology executive, to its Board of Directors. Ms. Hamill brings to the Scilex board more than three decades of experience in the biopharma industry, serving most recently as Executive Vice President, Worldwide Commercial Operations at Gilead Sciences, Inc. Prior to Gilead, she spent 18 years at Amgen Inc. in a number of leadership roles in the U.S. and internationally, concluding her time there as Senior...

HOUSTON, April 12, 2022 (GLOBE NEWSWIRE) — ION Geophysical Corporation (NYSE: IO) and certain affiliates (“ION” or the “Company”) today announced that, after evaluating a variety of strategic alternatives, it has filed for voluntary Chapter 11 relief in the U.S. Bankruptcy Court for the Southern District of Texas, Houston Division (the “Bankruptcy Court”) as it explores a value-maximizing transaction that will strengthen the Company’s balance sheet and position ION for sustained future success. In connection with the Chapter 11 filing, ION entered into a Restructuring Support Agreement (the “RSA”) with the lenders under its Credit Agreement and holders of approximately 80% of its 2025 Notes, whereby the parties agreed to support the Company’s Chapter 11 plan of reorganization (the “Plan”). The Company and the consenting creditors...

The Asian Business Review recognizes success of DZS Mobile & Optical Edge solutions in Rakuten Mobile’s pioneering O-RAN mobile network DALLAS, April 12, 2022 (GLOBE NEWSWIRE) — DZS (Nasdaq: DZSI), a global leader in access networking and cloud software solutions, today announced that The Asian Business Review’s Asian Telecom Awards 2022 has recognized the company for its work with Rakuten Mobile, which has deployed and scaled the industry’s first fully virtualized, cloud-native Open RAN (O-RAN) mobile network to millions of subscribers in Japan. The “Infrastructure of the Year” award highlights the role of the DZS Chronos Mobile & Optical Edge solutions in helping the mobile operator manage its 4G and 5G traffic. “Rakuten Mobile has been a valued partner for DZS since 2019, and I am extremely proud of the groundbreaking...