Welcome to our dedicated page for BlackRock Tech and Private Equity Term news (Ticker: BTX), a resource for investors and traders seeking the latest updates and insights on BlackRock Tech and Private Equity Term stock.
BlackRock Technology and Private Equity Term Trust (BTX) generates news and disclosures that focus on its role as a BlackRock-managed closed-end term trust with an equity investment strategy. Coverage often centers on the Fund’s managed distribution plan, tender offers for its common shares, and communications from its Board of Trustees regarding distribution policy and capital management.
Recent news has highlighted decisions by the Board of Trustees to update BTX’s managed distribution plan, including a shift from a floating rate distribution to a level rate distribution at a stated monthly rate. These announcements explain the rationale for the changes, such as enhancing distribution stability, maintaining a competitive distribution rate and managing the mix of public and private investments. News items also provide estimated allocations of distributions among net income, capital gains and return of capital, along with explanations of what return of capital means for shareholders and net asset value.
Another key theme in BTX news is corporate actions involving its capital structure. The Fund has announced the commencement, expiration, preliminary results and final results of a tender offer to repurchase up to 50% of its outstanding common shares at a price tied to net asset value. These releases describe the tender offer terms, the number of shares offered and tendered, and the pricing mechanism, while directing investors to the formal tender offer documents filed with the SEC.
Investors following BTX news can expect updates on distribution policies, estimates of distribution sources, tender offer activity, and references to where to find official reports and regulatory filings. Monitoring these announcements helps readers understand how the Fund’s Board manages distributions and capital actions within the framework of its investment objective and regulatory requirements.
Brooklyn ImmunoTherapeutics (NYSE American: BTX) announced the appointment of Dr. Erich Mohr to its Board of Directors, effective May 7, 2021. Dr. Mohr brings a wealth of experience from leading life sciences firms, focusing on creating value in board and executive roles. He expressed enthusiasm for joining Brooklyn at a pivotal growth stage, particularly due to the promising clinical trials of IRX-2, a cytokine-based treatment for cancer. Additionally, the company has acquired advanced gene editing technology, enhancing its capabilities in oncology and blood disorders.
Brooklyn ImmunoTherapeutics (BTX) has secured an exclusive license for mRNA gene editing technologies from Factor Bioscience and Novellus Therapeutics. This acquisition enables Brooklyn to utilize advanced gene editing and cell therapies, seen as high-efficiency and non-immunogenic. The licensed platform supports both allogeneic and autologous cells, facilitating the development of therapies for various disorders, including sickle cell anemia and tumors. Brooklyn aims to reach the IND stage for at least one indication by 2024, transitioning into a multi-product pipeline.
Brooklyn ImmunoTherapeutics (NYSE American: BTX) appointed Dr. Matthew During to its Scientific Advisory Board on April 26, 2021. Dr. During, a Harvard, MIT, and Yale trained neuroscientist, has extensive experience in gene therapy and has published over 250 scientific articles. His expertise will bolster the development of Brooklyn's lead therapy, IRX-2, which is currently in clinical trials for head and neck cancer and shows overall survival benefits. The company also aims to advance gene editing and cell therapies through collaborations with Factor Bioscience/Novellus.
Brooklyn ImmunoTherapeutics (NYSE American: BTX) announced the grant of two stock options to Dr. Federoff on April 16, 2021. The Time-Based Option covers 2,627,915 shares, with a structured vesting schedule extending to April 2025. The Milestone Option for 597,253 shares will fully vest upon FDA concurrence for a proposed investigational new drug application. Both options are employment inducement grants outside of the company's equity compensation plans. Brooklyn is advancing cytokine-based therapies and is studying IRX-2 in head and neck cancer with promising phase 2A trial results.
Brooklyn ImmunoTherapeutics (NYSE American: BTX) has invested $1 million towards acquiring a license for Factor Bioscience’s and Novellus’ mRNA Gene Editing and Cell Therapies technology. This investment extends the option exercise period for a related license agreement until May 21, 2021. If successful, the agreement could enable Brooklyn to use patented mRNA-based gene editing techniques for treating various cancers and genetic disorders. Additionally, if the agreement is not made by the deadline, Brooklyn will receive a reimbursement of the $1 million payment.
Brooklyn ImmunoTherapeutics (BTX) has appointed Dennis H. Langer, M.D., J.D. as an independent Director, effective May 1, 2021. Dr. Langer brings extensive experience in biotechnology and pharmaceuticals, previously serving as CEO of Neose Technologies and various leadership roles at Dr. Reddy's and GlaxoSmithKline. His appointment is expected to enhance the company's focus on its clinical-stage therapy, IRX-2, which shows promise in head and neck cancer. Moreover, Brooklyn aims to explore innovative technologies in gene editing and cell therapy, further solidifying its position in cancer treatment.
Brooklyn ImmunoTherapeutics (NYSE American: BTX) has appointed Dr. Howard J. Federoff as CEO and President effective April 16, 2021, succeeding Ronald Guido. Dr. Federoff aims to advance the clinical development of IRX-2, a cytokine-based therapy targeting solid tumors, alongside exploring new therapeutic agents. His extensive background in clinical and academic medicine, including previous leadership roles at UCI Health and Georgetown University, positions him as a strong asset for the company's objectives. Brooklyn's ongoing Phase 2A trial of IRX-2 in head and neck cancer has shown promising survival benefits.
Brooklyn ImmunoTherapeutics (NYSE American: BTX) has completed a reverse merger with NTN Buzztime, Inc., enhancing its focus on the IRX-2 cytokine therapy for cancer treatment. The merger allows Brooklyn to advance clinical trials of IRX-2, which has received fast track and orphan drug designations from the FDA for its potential in treating advanced head and neck cancer. Post-merger, approximately 96.25% of Brooklyn's outstanding common stock is held by former members of Brooklyn ImmunoTherapeutics LLC, with around 41.5 million shares outstanding.