Investments
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Providing Non-Opioid Pain Relief, Newtown Square’s Innocoll Sees Surge in Share Price
The recent announcement of positive trial results for its new pain relief treatment sparked a surge in the share price of Newtown Square’s specialty pharmaceutical company, Innocoll Holdings, writes Linda Loyd for the Philadelphia Inquirer. The company said that its non-opioid implant for postoperative pain relief has met “statistical significance” in patients without the additional…
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Radnor’s Mitochon Pharmaceuticals Receives $1.6M from Private Stock Sale
Radnor-based Mitochon Pharmaceuticals recently completed a private stock sale, generating $1.6 million for the biotech company. Among the investors involved in the equity financing is Ben Franklin Technology Partners of Southeastern Pennsylvania, writes John George of the Philadelphia Business Journal. The start-up company will use the funds to advance the development and testing of its lead…
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Is a Recession Looming? Vanguard Economist Says Downturn Unlikely
In the following video, Vanguard Global Chief Economist Joe Davis examines the current low-growth environment and places the likelihood of a U.S. recession in the near future at 15 to 20 percent odds. Davis concedes that the odds of a recession are elevated given the economy’s slow growth, reduced exports and declining corporate profits. But…
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Buyer of Crozer-Keystone Pledges Commitment to Community
Nurses, community activists, and public officials have expressed worry about the prospect of changes to the Crozer-Keystone Health System that the buyer, Prospect Medical Holdings in California, may have in store. However, the company’s president did his best to allay those fears. The deal calls for Prospect Medical Holdings to change almost nothing about the…
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Newtown Square-Based Sunoco Logistics Announces 44th Straight Quarterly Increase
Newtown Square’s Sunoco Logistics Partners, a publicly traded limited partnership that owns and operates a logistics business, and its general partner, Sunoco Partners LLC, have announced that this year’s first quarter is the 44th straight they have increased distribution. Sunoco Partners LLC declared a cash distribution for the first quarter of $0.489 per common unit…
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Radnor’s Safeguard Scientifics Joins Three Banks in $30 Million Investment
Radnor’s Safeguard Scientifics, a venture capital firm, joined PNC, TD, and Wells Fargo banks in a $30 million, Series E investment in New York City’s Transactis, writes Dan Norton of the Philadelphia Business Journal. Transactis, a provider of electronic billing and payment services, offers a cloud-based bill payment platform that is features-heavy. Users can access…
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Radnor’s NewSpring Invests $20 Million in Past Week
NewSpring Capital, a venture capital firm based in Radnor, invested more than $20 million in a pair of companies last week, writes Dan Norton of the Philadelphia Business Journal. NewSpring dedicated $12.8 million to Altus, a Kenner, La.-based commercial debt collection agency. Now licensed in every state, Altus is one of the largest of such…
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Partner Company of Radnor’s Safeguard Scientifics Set to be Acquired for $200 Million
Safeguard Scientifics, Inc. recently announced that its partner company (Putney, Inc.) signed an agreement to be acquired by Dechra Holdings US Inc. for $200 million in cash. Safeguard expects to receive aggregate initial cash proceeds of $58 million, which excludes an amount of additional proceeds to be held in escrow, representing an approximate 3.9 times cash-on-cash…
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Radnor’s eMoney Gets New CEO from Parent Company
Radnor’s eMoney Advisors, which has $1.7 trillion in assets on its platform, has named Edward O’Brien, the former senior vice president and head of platform technology for Fidelity Institutional, eMoney’s parent company, as its new CEO. According to a report from Financial Planning, an online resource for independent financial advisors, O’Brien has a long history…
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