Month: March 2023

ENCINITAS, Calif., March 11, 2023 (GLOBE NEWSWIRE) — Ventyx Biosciences, Inc. (Nasdaq: VTYX) (“Ventyx”), has learned that Silicon Valley Bank (“SVB”) has been closed by the California Department of Financial Protection and Innovation, which appointed the Federal Deposit Insurance Corporation (“FDIC”) as receiver. The majority of our cash and cash equivalents are held in accounts outside of SVB and our investment portfolio has no exposure to SVB. A portion of our cash is deposited in accounts with SVB and custodial accounts managed by SVB, and Ventyx may not have full access to these funds in the near-term. We do not see a material impact to our liquidity position or our ongoing operations as a result of this event. About Ventyx Biosciences Ventyx is a clinical-stage biopharmaceutical company focused on developing innovative oral...

Conference Call on Monday, March 13, 2023 at 8:30 a.m. ET LEXINGTON, Mass., March 11, 2023 (GLOBE NEWSWIRE) — Agenus (Nasdaq: AGEN), a clinical-stage company with a pipeline of therapies designed to activate the body’s immune system to fight cancer and infections, today announced that it will hold a conference call to provide detail and to answer any questions regarding its minority cash holdings at Silicon Valley Bank (SVB) at 8:30 a.m. ET on Monday, March 13th. Conference CallDial-in numbers: (646) 307-1963 (US) or (800) 715-9871 (International)Conference ID: 9540056. About AgenusAgenus is a clinical-stage immuno-oncology company focused on the discovery and development of therapies that engage the body’s immune system to fight cancer and infections. The Company’s vision is to expand the patient populations...

COLUMBUS, Ohio, March 11, 2023 (GLOBE NEWSWIRE) — Root, Inc. (NASDAQ: ROOT), a leading technology company powering insurance solutions and the parent company of Root Insurance, today announced that it currently maintains approximately $1.3 million on deposit with Silicon Valley Bank (“SVB”). The Company considers its own banking exposure to any liquidity concern at SVB as immaterial to the Company’s cash position. The Company plans to transfer its funds from SVB at the earliest opportunity. About Root, Inc.  Root, Inc. is the parent company of Root Insurance Company. Root is revolutionizing insurance through data science and technology to provide consumers a personalized, easy, and fair experience. Contacts: Media: press@joinroot.com   Investor Relations: ir@joinroot.com Forward-Looking Statements:This press release contains forward-looking...

BOSTON, March 10, 2023 (GLOBE NEWSWIRE) — Tango Therapeutics, Inc. (NASDAQ: TNGX), a clinical-stage biotechnology company committed to discovering and delivering the next generation of precision cancer medicines, reported that it is aware of the current situation affecting Silicon Valley Bank (SVB), it is monitoring this situation closely and does not expect its exposure to SVB will require any change to its previously provided guidance that it has sufficient cash, cash equivalents and marketable securities to fund operations into 2025. About Tango Therapeutics Tango Therapeutics is a clinical-stage biotechnology company dedicated to discovering novel drug targets and delivering the next generation of precision medicine for the treatment of cancer. Using an approach that starts and ends with patients, Tango leverages the genetic...

LOS ANGELES, March 10, 2023 (GLOBE NEWSWIRE) — PacWest Bancorp (Nasdaq: PACW) (the “Company”), a bank holding company with $41 billion in assets, in light of recent industry events, updates the following financial (unaudited) information and reiterates its capital and liquidity strategy:The Company’s wholly-owned subsidiary, Pacific Western Bank (the “Bank”), is a diversified relationship-based commercial bank focused on providing business banking and treasury management services to small, middle-market, and venture-backed businesses. The Bank has been, and continues to be, focused on strengthening our core relationship-based commercial bank, which we expect to result in stable core deposits, increased capital ratios, and an improved efficiency ratio, and will allow us to maintain our credit quality at favorable levels. We have...

VANCOUVER, British Columbia, March 10, 2023 (GLOBE NEWSWIRE) — Rakovina Therapeutics Inc. (the “Company”) (TSXV:RKV) announces that it may apply to the TSX Venture Exchange (the “TSXV”) to extend the expiry date of 11,414,750 common share purchase warrants (the “Warrants”) issued by the Company. The original term of the Warrants was two years and they currently expire on March 25, 2023. The Company proposes to extend the expiry date by up to 12 months (the “Warrant Extension”). No other terms of the Warrants are to be amended and the exercise price of each Warrant will remain at $0.40. The proposed amendment of the Warrants is subject to TSXV approval. The extension of the Warrants, if any, would only be effective upon TSXV approval and receipt of the requisite confirmation from the holders of the Warrants. Additional Information...

LOS ANGELES, March 10, 2023 (GLOBE NEWSWIRE) — Immix Biopharma, Inc. (Nasdaq: IMMX) (“ImmixBio”, “Company”, “We” or “Us”), a biopharmaceutical company pioneering Tissue-Specific Therapeutics (TSTx)™ targeting oncology and immuno-dysregulated diseases, today confirms that neither ImmixBio, nor any of its subsidiaries, have any exposure to Silicon Valley Bank (“SVB”) or Silvergate Bank. About Immix Biopharma, Inc.Immix Biopharma, Inc. (ImmixBio™) (Nasdaq: IMMX) is a clinical-stage biopharmaceutical company pioneering a novel class of Tissue-Specific Therapeutics (TSTx)™ targeting oncology and immuno-dysregulated diseases. Our proprietary SMARxT Tissue-Specific™ Platform produces drug candidates that circulate in the bloodstream, exit through tumor blood vessels and simultaneously attack all 3 components...

VANCOUVER, British Columbia, March 10, 2023 (GLOBE NEWSWIRE) — Blender Bites Limited. (the “Company”, “Blender Bites” or “Blender”), (CSE: BITE, FWB: JL4, WKN: A3DMEJ), a two time award-winning Canadian company involved in the development and marketing of a line of premium, organic and plant-based pre-portioned frozen functional foods, is pleased to announce the appointment of Mr. Steve Pear, former CEO of Odwalla, a subsidiary of the Coca-Cola Company (“Coca-Cola”), as the Company’s Chief Operating Officer (COO). Mr. Pear has extensive experience in the beverage and consumer packaged goods (CPGs) space, bringing over three decades of executive level expertise to his new role with Blender Bites. Mr. Pear’s impressive career includes 22 years with industry giant Coca-Cola where he held executive level roles under subsidiaries...

CHIHUAHUA, Mexico, March 10, 2023 (GLOBE NEWSWIRE) — GCC, S.A.B. de C.V. (BMV: GCC* or “the Company”), a leading producer of cement and concrete in the United States and Mexico, announced today that it has entered into a settlement agreement (the “Agreement”) reaching a mutual release with Compañía de Inversiones Mercantiles, S.A. (“CIMSA”). Pursuant to the Agreement, GCC and CIMSA negotiated an amount that satisfied both parties, concluding all disputes between them. This Agreement does not preclude GCC´s option to recover the settlement amount from other third parties as the case may be. The Agreement does not affect, in any way, the Company’s solid financial position, the fulfillment of obligations and liabilities, or the normal course of business. This document is submitted in compliance with Article 54...