Boston, MA 10/10/2014 (wallstreetpr) – Biotechnology company BioTime, Inc. (NYSE MKT:BTX) announced on 9th October that it has successfully closed the previously announced equity financing deal. Through the exercise, the development stage drug maker has raised nearly $29.42 million in proceeds. Some of its subsidiaries also managed to raise an additional $1.55 million from the sale of company common stock in the deal. The proceeds thus generated is planned to be used to further the clinical trials of target drugs they are individually developing. The firm had on 3rd October first made public its plan to raise capital through the direct offering of its stock.
German IT solutions vendor SAP SE (ADR) (NYSE:SAP) announced on 9th October that it has entered into a partnership with cloud based business intelligence solutions platform provider Birst. The two have agreed to collaborate to offer customers near real time reporting off their data using the BI anlystics of Birst. The data would be residing in the cloud infrastructure supported by SAP HANA® Cloud Platform. The two firms intend to provide to their customer a single point of contact to maintain their entire BI and DW needs on the cloud through this tie up.
State run Indian Oil Corporation which is headquartered in Delhi and Celanese Corporation (NYSE:CE) headquartered in Dallas, Texas announced on 9th October that they have signed off on a memorandum of understanding dated 1st October. The two firms have agreed to jointly explore the potential of building and operating a “fuel ethanol plant” in India. Celanese Corporation (NYSE:CE) would be supplying the technology knowhow for the project. The two firms have decided to locate the yet to be commissioned plant in the Indian eastern coast state of Odisha. The plant once built will use the “petroleum coke” by-product produced in Indian Oil’s refineries currently as one of the key feedstock to produce ethanol. The two firms have also agreed to explore other potential locations in due course.
