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Abscis AI Biologics Model Secures $247 Million Collaboration with AstraZeneca

AstraZeneca and the American AI biologics company Absci have agreed on a partnership that might be valued up to $247 million to create a generative AI

AstraZeneca and the American AI biologics company Absci have agreed on a partnership that might be valued up to $247 million to create a generative AI model for creating an antibody to combat cancer. Absci designs pharmacological candidates with artificial intelligence, maximising characteristics including target affinity, safety, and manufacturability. The partnership comprises milestone payments, royalties on product sales, an upfront fee, and funds for research and development. The precise cancer kind that is being targeted has not been made public. Sean McClain, CEO of Absci, took delight in using AI to provide cancer patients with cuttingedge therapies. When asked by the media for comments on the agreement, AstraZeneca has yet to respond. Read More..

B2B Tech News | 2 months ago        

Walmart Distances Itself from X Amid Antisemitic Content Concerns

Walmart declared that it will no longer run advertisements on X previously Twitter, adding its name to the list of businesses that have shunned the pl

Walmart declared that it will no longer run advertisements on X previously Twitter, adding its name to the list of businesses that have shunned the platform since Elon Musk bought it in October 2022. The action was taken in response to worries over antisemitic content on X, which caused sponsors to leave recently. Elon Musks divisive remarks, which include supporting untrue assertions about the Jewish community, have made it harder for the platform to draw in new sponsors. Several other wellknown companies, including Apple, Walt Disney, and Warner Bros. Discovery, have also halted their advertisements on X due to worries over their placement next to antisemitic messages. Read More..

B2B Tech News | 2 months ago        

Bitcoins Near 19Month High Boosts Crypto Miners and Companies

Shares of cryptocurrency miners and companies that track Bitcoin prices rose due to the cryptocurrency reaching a nearly 19month high, now trading at

Shares of cryptocurrency miners and companies that track Bitcoin prices rose due to the cryptocurrency reaching a nearly 19month high, now trading at $38,337. The spike and potential attraction of more financial investments are attributed to the growing confidence surrounding approving a Bitcoin spot exchangetraded fund ETF. The share prices of bitcoin miners TeraWulf, Marathon Digital, and Riot Platforms increased by 1.7% to 4%. Businesses mining Bitcoin also increased their output because of the prospect of a 2024 "halving" event, in which the incentives for producing new coins are halved. The major causes of the overall positive sentiment are growing expectations for a spot ETF and the removal of uncertainties, such as concerns about regulations and quicker money creation in 2024. Read More..

B2B Tech News | 2 months ago        

US Tightens Rules on Chinese Content in EV Batteries for Tax Credits

With effect from next year, the Biden administrations guidelines will limit the amount of Chinese material in batteries that qualify for electric vehi

With effect from next year, the Biden administrations guidelines will limit the amount of Chinese material in batteries that qualify for electric vehicle EV tax credits. In a move that benefits automakers, the US Treasury will temporarily exclude several trace essential minerals from the new, stringent regulations. Based on legislation passed in August 2022, the regulations are meant to lessen the US EV battery supply chains reliance on China. The Foreign Entity of Concern FEOC regulations will go into force for essential minerals in 2025 and finished batteries in 2024. Proposing a twoyear exception for trace elements, the Alliance for Automotive Innovation deemed the move "significant and welladvised." Read More..

B2B Tech News | 2 months ago        

Rich Data Co Raises $17.5 Million in Series B Funding Round Led by Westpac and nCino

Rich Data Co RDC, a software startup in Sydney, has raised $17.5 million in a Series B fundraising round headed by nCino and Westpac. RDC helps banks

Rich Data Co RDC, a software startup in Sydney, has raised $17.5 million in a Series B fundraising round headed by nCino and Westpac. RDC helps banks make more accurate loan choices by giving them insights into borrower behaviour with explainable artificial intelligence AI. With this new finance, RDC will quickly expand into North America after previously concentrating on international markets such as China, Vietnam, and North America. In 2020, the business joined Neobank Judo and National Australia Bank to access the Australian market. By upending current lending practices and strengthening its position as a leader in the AI decisionmaking market, the investment will enable RDC to improve its AI decisionmaking platform. Read More..

B2B Tech News | 2 months ago        

Broadcom Explores Options for VMwares Business Units Post $69 Billion Acquisition

According to reports, EndUser Computing and Carbon Black, two of VMwares business segments, are under consideration for acquisition by American chipma

According to reports, EndUser Computing and Carbon Black, two of VMwares business segments, are under consideration for acquisition by American chipmaker Broadcom. After receiving regulatory permission from China, Broadcom finalised its $69 billion acquisition of VMware on November 22. This action is a part of Broadcoms effort to optimise its business structure through an operational evaluation of VMware. Following the acquisition, VMware will still function as the following four divisions Tanzu, SoftwareDefined Edge, Application Networking and Security, and Cloud Foundation. According to a leaked email from Broadcom CEO Hock Tan to staff, the information is fresh. Regarding the claims, neither VMware nor Broadcom have offered an official statement. Read More..

B2B Tech News | 2 months ago        

Advertiser Exodus Looms for Elon Musks X Following Antisemitism Controversy

Following Elon Musks outburst at media industry executives who halted advertising on his social media network, X formerly known as Twitter, the billio

Following Elon Musks outburst at media industry executives who halted advertising on his social media network, X formerly known as Twitter, the billionaire may see a rise in the number of advertisers quitting the platform. Disney and Warner Bros. Discovery pulled their advertisements from X after Musk supported an antisemitic tweet. Musk later apologised during a diatribe of expletives directed at advertisers during a New York Times DealBook event. According to analysts, more businesses may stop running ads on X, which makes the platforms membership initiatives even more crucial. Musk warned that X might go bankrupt if advertisers continued their boycott, and the company has come under fire for problems with content control. Read More..

B2B Tech News | 2 months ago        

AbbVie to Acquire ImmunoGen for $10.1 Billion in Cash

AbbVie will purchase immunoGen for a cash price of $10.1 billion. This action aligns with an increasing trend in which large pharmaceutical companies

AbbVie will purchase immunoGen for a cash price of $10.1 billion. This action aligns with an increasing trend in which large pharmaceutical companies purchase the creators of antibodydrug conjugates ADC, or "guided missile" cancer treatments. Elahere, an authorised ADC from ImmunoGen for patients with ovarian cancer who have had prior therapy, will be a valuable asset to AbbVie. Through the agreement, AbbVie will also access ImmunoGens portfolio of ADCs, which includes the midstage medication pivekimab sunirine for rare blood cancer and the earlystage candidate IMGN151 for ovarian cancer. With more competition for its bestselling drug, Humira, AbbVie wants to solidify its position in the cancer market with this purchase. Read More..

B2B Tech News | 2 months ago        



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