On Friday, Shares of Idera Pharmaceuticals Inc (NASDAQ:IDRA), gained 6.05% to $3.68.
Idera Pharmaceuticals, declared it has reached an exclusive worldwide partnership and license agreement with GSK to research, develop and commercialize selected molecules from Idera’s 3rd generation antisense platform for the treatment of selected targets in renal disease.
“We are excited to be working with GSK to apply our drug discovery and development efforts in renal disease. This partnership broadens the utility of our third generation antisense platform beyond the stated areas of focus for Idera in cancers and rare diseases,” stated Clayton Fletcher, Idera’s Senior Vice President of Business Development and Planned Initiatives. “Importantly, through such collaborations we have the opportunity to strengthen our balance sheet to enable us to further our own clinical development and commercial aspirations.”
Under the terms of the agreement, Idera is eligible to receive about $100 million in development and regulatory milestone payments, counting a $2.5 million upfront payment. Additionally, Idera is eligible to receive royalties on all sales upon commercialization at varying rates up to five percent on annual net sales in excess of $500 million.
Idera Pharmaceuticals, Inc., a clinical-stage biopharmaceutical company, focuses on the discovery, development, and commercialization of novel therapeutics for oncology and rare diseases in the United States.
Shares of Ericsson (ADR) (NASDAQ:ERIC), inclined 1.48% to $9.57, during its last trading session.
Ericsson (ERIC) and Ooredoo Group have signed a Memorandum of Understanding (MoU) for 5G development with the ambition of developing use cases, requirements and deployment scenarios for 5G technologies.
The MoU was signed by Ahmed Yousef Al-Derbesti, COO of Ooredoo Group and Jan Wareby, Senior Vice President Head of Sales of Ericsson, in the company of top senior executives from both companies at Ericsson’s headquarters in Sweden.
In line with the collaboration, Ooredoo and Ericsson will evaluate both the performance and applicability of potential key 5G components in a controlled test environment.
H.E. Sheikh Saud Bin Nasser Al Thani, Group CEO, Ooredoo, says: “Ooredoo is striving to support our customers’ activities in an increasingly digital, connected world and we are determined to be at the cutting-edge of network technologies. We’re happy to partner on developing next generation technologies with Ericsson, a trusted partner and a major supplier for Radio Access, Core, Transmission, OSS and BSS. We look forward to working towards developing 5G technologies together.”
Ericsson provides communications technology and services worldwide. The company’s Networks segment delivers products and solutions for mobile access, Internet protocol (IP) and transmission networks, core networks, and cloud.
Finally, Shares of Fluor Corporation (NEW) (NYSE:FLR), ended its last trade with 0.98% gain, and closed at $48.32.
Fluor Corporation, declared that its BASF Jade Tree project has been named a finalist for Construction Project of the Year by the Platts Global Energy Awards. Located in Shanghai, China, the project is a high performance chemical production facility. Fluor performed front-end engineering, detailed design, procurement, construction administration (EPCM), commissioning and start-up.
“This complex project shows that our commitment to safety is achievable, even when faced with an aggressive plan and other challenges,” said Ken Choudhary, Fluor’s Energy & Chemicals president for Asia Pacific. “Being named a finalist for Construction Project of the Year is a great recognition of Fluor’s integrated solutions approach.”
More than 3.4 million safe work hours were performed on the Jade Tree project without incident, delivering it ahead of plan and within budget. The project comprised two production lines, a recovery unit, production conveyers, silos, a warehouse, waste water treatment, an office building, a tank farm, a cooling water tower, a 35-kilovolt substation and a telecommunications system.
Fluor Corporation, through its auxiliaries, provides engineering, procurement, construction, fabrication and modularization, commissioning and maintenance, and project administration services worldwide.