Latest news with #MorrisonFoerster
South China Morning Post
30-05-2025
- Business
- South China Morning Post
Chinese biotech's mega drug-licensing deals with multinationals surge on cost savings
A potential multibillion-dollar deal unveiled on Friday by CSPC Pharmaceutical Group is the latest in a growing number of agreements by Chinese biotechnology firms to license development rights for innovative medicines to global pharmaceutical firms, according to lawyers advising the companies. Advertisement Many of these deals use a so-called newco structure, which combines traditional intellectual property licensing with fundraising via a newly established corporate vehicle, said the Shanghai-based partners of San Francisco-based international law firm Morrison Foerster. 'Last year we saw at least seven newco deals,' managing partner Sun Chuan said. 'So far this year we have already identified five deals, and more are under discussion.' The broader trend of Chinese biotech firms licensing their intellectual property – as an alternative to raising funds by selling shares amid depressed valuations – was also continuing, with both the number of deals so far this year and their value exceeding the same period a year earlier, he said. On CSPC, based in Shijiazhuang in northern China's Hebei province, said it was in talks with unnamed parties on licensing development and marketing rights for its drug candidates including a targeted cancer therapy. Advertisement Potential payments to CSPC on each candidate could add up to US$5 billion, the company said. CSPC shares surged as much as 12.3 per cent on Friday.
South China Morning Post
24-03-2025
- Business
- South China Morning Post
AI boom drives record loans for data centres in Southeast Asia
Artificial intelligence (AI) advances are fuelling a funding frenzy for data centres in Asia, spawning a series of record-breaking loans and filling the pipeline with even more potential deals. Advertisement In the span of a week, two major Asian data-centre operators secured their biggest-ever loans, partly earmarked for the expansion of their operations in Malaysia , which is becoming a hub for these facilities. The deals underscore the industry's appeal in attracting a range of investors – from banks to real estate players – as the AI boom drives demand. They also show how much of a data-centre hotspot Asia has become, with demand set to expand by about 32 per cent a year through 2028, according to data by real state services firm Cushman and Wakefield, outpacing the US' expected growth of 18 per cent, though US tariff policy could be a wild card for the industry. A surge in demand of AI services and the US-China tech war are driving a data-centre boom in Southeast Asia. Photo: Shutterstock 'The surge in demand for data-centre capacity has piqued the interest of an ever-growing diverse pool of capital investors and providers across Asia-Pacific,' said Yemi Tepe, a partner at law firm Morrison Foerster, who has worked on tech-related financial transactions. Advertisement
Associated Press
18-02-2025
- Business
- Associated Press
U.S. Department of Justice Closes Investigation of By Light Subsidiary Cole Engineering Services
McLEAN, Va., Feb. 18, 2025 (SEND2PRESS NEWSWIRE) — By Light Professional IT Services LLC (By Light) has been informed by the U.S. Department of Justice (DOJ) that Cole Engineering Services (Cole), its wholly owned subsidiary, is no longer under investigation. Neither By Light nor Cole was ever a target of the investigation. As previously reported by some media outlets, a search warrant was executed at By Light's Orlando facilities in June 2024. Following this event, the company retained former senior DOJ officials to conduct an independent review of the matter on behalf of company leadership, engage with DOJ to understand the basis for the search, and work toward the resolution of the investigation. On December 13, 2024, By Light was formally notified by DOJ through counsel that the investigation into Cole had concluded and no further action was required on the company's part. This result is consistent with our belief that neither Cole nor any of its employees engaged in inappropriate conduct. By Light appreciates the swift resolution of the matter and the professionalism displayed by DOJ throughout the investigation. 'Throughout this process, the employees of By Light and our subsidiaries have remained laser-focused on executing the mission of our customers,' said Bob Donahue, Founder and CEO of By Light. 'We continue to deliver state-of-the-art systems that increase both the readiness and lethality of our armed forces—soldiers, sailors, airmen, and Marines—ensuring they are equipped with the tools necessary to remain the world's preeminent military force.' By Light was represented in this matter by Morrison Foerster. About By Light: By Light Professional IT Services LLC, headquartered in McLean, VA, is an ISO 9001, 20000-1, and 27001 registered and CMMI-Dev Level 3 rated systems integrator that readies warfighters and federal agencies with technology and systems engineered to connect, protect, and prepare for every next. We deliver mission-ready modeling, simulation and training with customized trainers and high-fidelity cyber ranges to anticipate the next action and dominate the next outcome. We train cyber-ready workforces and deliver enterprise security from identity to monitoring, to detect, deter, and defeat every next threat. At By Light, our partnership-ready work accelerates missions to thrive beyond next. For more information, visit NEWS SOURCE: By Light Professional IT Services Keywords: Cyber Security and Infosec, By Light Professional IT Services LLC, ISO 9001, 20000-1, and 27001 registered and CMMI-Dev Level 3 rated systems integrator, McLEAN, Va. Send2Press® Newswire. Information is believed accurate but not guaranteed. Story ID: S2P124131 AP-R15TBLLI
