Quintiles looking to go public, Bloomberg News reports
DURHAM – Quintiles, the Durham-based private company that provides contract services to pharmaceutical companies, is looking to go public later this year, Bloomberg News reported Friday, citing unnamed sources.
In the report, “TPG, Bain Said to Be Interviewing Banks to Handle Quintiles IPO,” Bloomberg News cited three unnamed sources that reportedly have information about the matter.
The report said that according to those unnamed sources, TPG Capital and Bain Capital are interviewing banks to handle the Quintiles initial public offering. One of those sources, according to the report, said the company is looking to go public later this year.
Phil Bridges, director of corporate communication for Quintiles, said in an email on Monday that Quintiles “routinely evaluates its capital strategy” and it’s not the company’s policy to comment on those matters.
The company is based in Durham and provides contract services including the management of clinical trials for pharmaceutical companies. Bain Capital and TPG Capital became lead investors in Quintiles in 2008.
Medicago announces deal with Mitsubishi Chemical Holdings
QUEBEC CITY – Medicago Inc. announced Monday the execution of an agreement with Mitsubishi Chemical Holdings Corp. to develop a plant production system.
Medicago is a clinical-stage biopharmaceutical company that’s working to try to develop vaccines and therapeutic proteins using plants.
According to a news release from Medicago, MCHC has developed a closed hydroponic system to grow plants. The system is used for industrial-scale vegetable production in Japan and other countries.
Using solar panels and LED lighting, the system is meant to achieve efficient, clean, safe and environmentally friendly plant production that’s not dependant on favorable weather.
Medicago said in a news release that tightly controlled conditions and reproducibility are “key elements” to ensure reliable biopharmaceutical production in different geographies and climates.
Under the terms of the agreement, Medicago and MCHC will work exclusively for a year to evaluate the potential of combining MCHC's Plant Factory System with Medicago's plant protein production technologies.
CBS Sports to use SMT technology for Super Bowl XLVII
DURHAM – SMT, the Durham-based company that provides graphics and other services for televised sports and entertainment events, announced Monday its technology will be used in CBS’ Super Bowl XLVII programming.
In addition to first-down line available on CBS Sports’ three primary cameras, six other cameras will be calibrated with the first down line by SMT, including endzone cameras, according to a news release from CBS Sports.
Virtual extensions of the goal posts will also be added to determine the flight path of the ball and whether the kick was good or not, supplied by SMT, the release states.
According to SMT, the company will be providing real-time in-game statistics and talent information displays, among other services.
In addition, SMT will provide a data and graphics services package for the NFL’s production of the Super Bowl world feed. This is the 17th year SMT has provided this solution to the NFL and the NFL Network.