Village Roadshow's $417.5 Million Stalking Horse Deal Approved
Village Roadshow Entertainment Group, the bankrupt production house behind The Matrix trilogy, won court approval to sell the rights to its film library to Alcon Media Group for $417.5 million, a deal that's still subject to better offers at a potential auction next month.
Judge Thomas M. Horan approved the bankrupt company's stalking horse deal with Alcon, which will set a price for Village Roadshow's film library, according to a filing Tuesday. Alcon bested an earlier offer from Los Angeles-based investment firm Content Partners, though Content could still bid on the film library.
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Associated Press
18 minutes ago
- Associated Press
ITM and Debiopharm Announce First Patient Imaged in New Study Arm of Phase 1/2 Trial Evaluating ITM-94 as Diagnostic Agent for Clear Cell Renal Cell Carcinoma (ccRCC)
Garching / Munich, Germany, and Lausanne, Switzerland - June 23, 2025 – ITM Isotope Technologies Munich SE (ITM), a leading radiopharmaceutical biotech company and Debiopharm, a Swiss-based, global biopharmaceutical company aiming to establish tomorrow's standard-of-care to cure cancer and infectious diseases, today announced that the first patient was imaged in a new study arm of a five-part, Phase 1/2 clinical trial (formerly GaLuCi™) (NCT05706129) evaluating the theranostic pair ITM-94/ITM-91 for identification and treatment of patients who have unresectable, locally advanced or metastatic solid tumors. As a new component of a broad clinical development plan for ITM-91/ITM-94, Part D of the trial will evaluate the effectiveness of ITM-94 in classifying indeterminate renal mass as either ccRCC or non-cancerous. ITM-91/ITM-94 is a first-in-class, peptide-based theranostic pair combining the radiotherapeutic compound ITM-91 (Debio 0228) ([177Lu]Lu-DPI-4452), with the diagnostic agent ITM-94 (Debio 0328) ([68Ga]Ga-DPI-4452) to target Carbonic Anhydrase IX (CAIX). CAIX is a cell surface protein that plays a key role in the tumor microenvironment, promoting tumor growth, survival, invasion and metastasis. In September 2024, ITM gained the exclusive worldwide license from Debiopharm for the development and commercial rights of ITM-91/ITM-94. The initiation of this study arm represents a significant advancement for ITM and Debiopharm following their licensing agreement. In the now initiated Part D of the trial, ITM-94 is being evaluated for its effectiveness to accurately classify an indeterminate renal mass as ccRCC or non-cancerous, when compared to CT/MRI imaging and histopathology. Secondary endpoints include sensitivity, specificity, and the positive and predictive value of ITM-94 PET/CT imaging compared to histopathology. This study arm is expected to enroll approximately 36 patients at around 15 clinical sites across the EU, US and Australia. ' The early results from the Gallium-68 CAIX PET/CT diagnostic are remarkable to date. I believe ITM-94 has the potential to change the way urologists and oncologists diagnose and stage patients with clear cell renal cell carcinoma, improving accuracy and reducing the need for biopsies. I have not seen a tracer with a similar profile since the PSMA PET/CT was established,' added Prof. Michael Hofman, Director, Prostate Cancer Theranostics and Imaging Centre of Excellence (ProSTIC), Peter MacCallum Cancer Centre, Melbourne, Australia. ' Clear cell renal cell carcinoma is the most common form of kidney cancer, with more than 90% of cases overexpressing the CAIX encoding gene. As survival rates are highly dependent on the stage of progression, rapid and precise diagnosis is essential to provide patients with the best possible treatment options and therapeutic outcomes. ITM-94 has already demonstrated potential exceptional imaging qualities, including high tumor-to-background ratios and detecting lesions not visible by CT scan with a potential favorable safety profile. We look forward to exploring the full potential of the theranostic pair ITM-91/ITM-94 across this trial to characterize and treat CAIX expressing cancer cells, advancing the efficacy of targeted radiopharmaceutical therapies,' said Dr. Celine Wilke, Chief Medical Officer of ITM. ' With high-quality imaging and high tumor uptake, ITM-94 has already demonstrated potentially significant diagnostic capabilities in solid tumors. The data gathered in Part D of the trial will be instrumental to the further validation of this theranostic pair. We highly value our partnership with ITM, which will continue to advance the rapid progression of these novel radio-diagnostics and -therapeutics through the clinic,' said Angela Zubel, Chief Development Officer, Research & Development at Debiopharm. About the Phase 1/2 ITM-91/ITM-94 Trial The five-part clinical trial (NCT05706129) is designed to assess the safety and tolerability, imaging characteristics, and efficacy of the theranostic pair ITM-91/ITM-94 in patients with unresectable, locally advanced or metastatic solid tumors. In Part A of the trial, ITM-94 demonstrated exceptional tumor imaging characteristics, with a high tumor-to-background ratio and a favorable tolerability profile in patients with confirmed ccRCC, with results published in the Journal of Nuclear Medicine. Part B, which is ongoing, is assessing escalating doses of the therapeutic agent, ITM-91, in patients whose tumors show high uptake of the imaging tracer. Based on the recommended dose from Part B, Part C of the trial will assess the safety and preliminary efficacy of ITM-91 in patients with ccRCC, pancreatic ductal adenocarcinoma, colorectal cancer, urothelial carcinoma and potentially other tumor types. In addition to the newly initiated Part D, Part E will assess ITM-94 uptake in other tumors. ITM will assume full sponsorship of the program from Debiopharm once the transfer is completed. About ITM-91/ITM-94 (Debio 0228/ 0328) ITM-91/ITM-94 is an investigational theranostic pair originally discovered by 3B Pharmaceuticals GmbH and now exclusively licensed to ITM. ITM-94 ([68Ga]Ga-DPI-4452) is a PET imaging agent that may be used independently and is designed to identify patients whose cancers overexpress CAIX. Once identified, these patients may be treated with the lutetium-labelled radioligand, ITM-91 ([177Lu]Lu-DPI-4452), which delivers targeted radiation to the tumor with the aim to destroy it from the inside. About ITM Isotope Technologies Munich SE ITM, a leading radiopharmaceutical biotech company, is dedicated to providing a new generation of radiopharmaceutical therapeutics and diagnostics for hard-to-treat tumors. We aim to meet the needs of cancer patients, clinicians and our partners through excellence in development, production and global supply. With improved patient benefit as the driving principle for all we do, ITM advances a broad precision oncology pipeline, including multiple Phase 3 studies, combining the company's high-quality radioisotopes with a range of targeting molecules. By leveraging our two decades of pioneering radiopharma expertise, central industry position and established global network, ITM strives to provide patients with more effective targeted treatment to improve clinical outcome and quality of life. Debiopharm's commitment to patients Debiopharm aims to develop innovative therapies that target high unmet medical needs in oncology and bacterial infections. Bridging the gap between disruptive discovery products and real-world patient reach, we identify high-potential compounds and technologies for in-licensing, clinically demonstrate their safety and efficacy, and then select large pharmaceutical commercialization partners to maximize patient access globally. For more information, please visit We are on X. Follow us @DebiopharmNews at or on LinkedIn. ITM Contact Corporate Communications Kathleen Noonan/Julia Westermeir Phone: +49 89 329 8986 1500 Email: [email protected] Investor Relations Ben Orzelek Phone: +49 89 329 8986 1009 Email: [email protected] Debiopharm Contact Dawn Bonine - Head of Communications [email protected] Tel: +41 (0)21 321 01 11 Attachment
Newsweek
2 hours ago
- Newsweek
US Home Prices Break Records Despite Cooling
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. U.S. home sale prices reached a record high during the four weeks ending June 15, hitting a peak of $396,500, according to the latest Redfin data, up 1 percent from a year earlier. It might be a discouraging figure for prospective homebuyers who have been struggling for years now with sky-high prices and historically elevated mortgage rates. But while home prices are still holding steady, experts do not expect them to continue rising for long, as new listings continue rising and inventory grows across the country. Why Are Home Prices Still Climbing? The main reason why home prices continue rising is that there is still a massive imbalance between supply and demand in the country, even if inventory has finally started rebounding over the past year. According to an estimate by the Washington-based think-tank Brookings, the U.S. housing market was short by nearly 5 million homes in 2024. In an aerial view, single-family homes in a neighborhood in Thousand Oaks, California, on April 18, 2025. In an aerial view, single-family homes in a neighborhood in Thousand Oaks, California, on April 18, while prices are still inching up, they are doing so at a much slower pace than they were over the previous five years, which saw double-digit year-over-year increases, or at the beginning of the year, when it was around 5 percent. In fact, we could say that they are now flatlining. Buyers are also negotiating and obtaining significant discounts over sellers' original asking price; according to Redfin data, the median sale price of a typical U.S. home is roughly $26,000 lower than the median asking price of $422,238. This is happening because buyers are gaining the upper hand in a market where sellers outnumber them by roughly 500,000, according to a recent Redfin report. While many sellers have decided to stop waiting for mortgage rates to come down to sell their properties, many buyers are being kept on the sidelines by high prices and monthly payments, and are leaving those listings sitting idle on the market for increasingly long periods of time. New listings of homes for sale were up 4.4 percent in the four weeks ending June 15 compared to a year earlier, while total listings were up 14.5 percent. Pending sales, during the same time frame, were down 1.5 percent year-over-year, and mortgage-purchase applications were down 3 percent week-over-week. The result is that sellers, especially those who approached the market hoping to get as much as they would have for their home during the pandemic homebuying frenzy, are having to meet buyers where they are at, lowering their asking price. "I'm explaining to sellers more and more that we need to be strategic in our pricing strategy because homes that are overpriced, even slightly, are likely to sit on the market and invite buyers to negotiate," said Kelly Connally, a Redfin Premier agent in Tulsa, Oklahoma, in a press release. "Pricing is most important, but with fewer buyers than usual out there, sellers should also make sure their home is in excellent condition and be ready to make repairs upon inspection," Connally added. "There are a few exceptions: homes in desirable locations that are in perfect condition are still hot and typically sell at or above asking price." When Will Prices Finally Come Down? Experts believe that, by the end of the year, home prices will finally start falling, even if modestly. Redfin expects home prices to decline by 1 percent year-over-year by the end of 2025, with parts of the country that have experienced the biggest surges in inventory reporting even steeper price drops. "The key for price changes will be to track growing inventory and time on market, especially relative to their pre-pandemic levels when the market was more balanced," senior economist Jake Krimmel previously told Newsweek. "Markets with high inventory and longer time on market are more likely to see price corrections. Overall, we expect a slow rebalancing rather than a sharp correction—unless economic conditions shift more dramatically."
CNBC
2 hours ago
- CNBC
The Iran-Israel conflict isn't denting Chinese business optimism in the Middle East
BEIJING — The recent flare-up in Middle East tensions isn't denting Chinese business optimism about opportunities in the region. Chinese shipments to Dubai's logistics hub have risen by 20% this month from a year ago, as locals stock up on batteries and daily necessities, according to estimates from Bear Huo, China general manager at FundPark, a fintech startup that lends money to small Chinese businesses selling overseas via internet platforms. "Overall, Chinese merchants are relatively optimistic," he said Monday in Mandarin, according to a CNBC translation. That's partly due to the relatively recent rise of the Middle East as a fast-growing market, he added. Chinese companies have increasingly turned to the region in the last few years — whether to raise money from local investors or to tap a new market for electric cars — amid trade tensions with the United States. On the geopolitical front, Beijing helped Riyadh and Tehran restore diplomatic relations in 2023. Huo's view is that the Iran-Israel tensions will end relatively soon, given that even the U.S. strikes have targeted specific strategic sites, and as fighting isn't spread out along a border as in the drawn-out conflict between Russia and Ukraine. Nevertheless, risks remain elevated as the Dubai port is right across the Strait of Hormuz from Iran. Ships are moving more slowly and there are fewer flights, Huo said. He said he does not know where products from Chinese sellers go to after they arrive in Dubai, and added that the company doesn't directly do business with Iran because of sanctions. China's Ministry of Foreign Affairs said it "strongly condemns" the U.S. attacks on Iran over the weekend, while calling on all parties involved to "reach a ceasefire as soon as possible." China's trade with Iran has dropped sharply in the last two years, according to customs data accessed via Wind Information. The U.S.-sanctioned crude exporter has relied significantly on Beijing's purchases. "A more stable Middle East serves China's economic and strategic interests," said Yue Su, Beijing-based principal economist for China at the Economist Intelligence Unit. "Beijing will be interested to position itself as a constructive power capable of contributing to global stability," she said. She noted that Chinese businesses will likely interact cautiously with Iran, given concerns over possible secondary sanctions. State news broadcaster CCTV aired interviews Sunday of Chinese citizens grateful for Beijing's efforts to evacuate them from Iran. While there are strict warnings on U.S. citizens traveling to Iran, Chinese citizens have been able to visit Iran without a visa for three weeks, for tourism or business. Most Chinese nationals who were in Iran have been evacuated, the Chinese Embassy in Iran said Monday. On an even more optimistic note, if the latest escalation results in a relaxation of U.S. sanctions on Iran, tens of thousands of Chinese businesses would likely rush to the Middle Eastern country to build up its tourism, real estate and overall infrastructure, said Qin Gang, Beijing-based founder of a consultancy that translates as Ode & Song Cultural Industry. He said he visited five cities in Iran in 2013 at the invitation of Mahan Air, a private-sector Iranian airline.
