Connect with us

Commercial Real Estate Developer Sterling Bay Creates Prysm Life Sciences to Expand and Transform the Life Science Community in Chicago

Published

on

Reading Time: 3 minutes

CHICAGO–(BUSINESS WIRE)–Sterling Bay, one of Chicago’s largest real estate development and
investment firms, announced plans today to create Prysm Life Sciences, a
catalyst for a sustainable and scalable life science community in
Chicago. Citing its transformation of the West Loop and Fulton Market
District into commercial centers, the firm will employ the same
multi-faceted approach to help retain talent and innovative life science
technology here in Chicago, as well as recruit major life science and
healthcare institutions to its campuses.

Our vision is to establish multiple synergistic life science lab
centers that align resources between academia, industry, civic
accelerators, patient foundations and contract research services to
efficiently develop new health care products and solutions. While
Chicago already has a great reputation in healthcare and innovation –
housing many world-class hospitals and global pharmaceutical companies –
there is still a critical shortage of actual lab space here,” said
Andrew Gloor, managing principal and chief executive officer, Sterling
Bay. “We want to help fill this gap and help more life science start-up
companies come to Chicago and stay here long-term by providing the
infrastructure and space through the creation of Prysm Life Sciences. If
we really want to be a life science center, then we need to build and
maintain it.”

With this announcement, the future life science vision includes:

  • Providing Immediate Facilities for the Life Sciences Community – The
    2430 North Halsted property is a medical research facility with more
    than 120,000 square feet of laboratory and office space across five
    floors, which includes flexible shared wet lab and work space, lab
    pods and private suites. The space will serve biopharma, medtech,
    diagnostics and life science tool companies in the near term.
  • Elevating the Life Science Incubator – Member companies of
    Prysm Life Sciences can expect a full-service startup platform
    designed to dramatically accelerate the growth of early-stage life
    science companies, including programming, shared equipment and
    services and expanded networking opportunities. This 20,000 square
    feet incubator is available for up to 30 companies. The goal is to
    create a differentiated and branded incubator model focused on
    enabling a more collaborative community beyond Chicago.
  • Enhancing Investment – Beyond infrastructure, the Prysm Life
    Sciences offering will include access to capital through a structured
    network of strategic investors to provide all resources needed to
    better retain talent and innovative companies in Illinois. Prysm Life
    Sciences is currently invested in one diagnostic company, Prescient
    Medicine, and is in the process of evaluating several other
    organizations.
  • Looking Beyond Today – The 50-acre Lincoln Yards development
    will include several early-stage and graduate research facilities to
    properly serve the immediate and growing needs of small, midsize and
    large institutions within commercial and academia markets. In addition
    to research facilities, the Lincoln Yards Development will also
    include residential, retail, and office facilities.

Fueled by an influx of investment, the increase of startup activity in
the Illinois life sciences ecosystem is leading to a lack of space and
infrastructure to sustain the community’s growth,” said John Conrad,
president and CEO of the Illinois Biotechnology and Innovation
Organization. “We have all the necessary elements right here in Chicago
to be a world-class leader in life science innovation and
commercialization. Sterling Bay’s approach has a lot of promise in that
it will include the scalable lab space, funding and programs needed to
retain and attract companies. We as a community need to come together
and support the vision of Sterling Bay and all the other developers that
are investing in our future.”

Sterling Bay has partnered with CBRE in the leasing of Prysm Life
Sciences. Renovation of the building on 2430 N. Halsted has begun, and
established companies are actively being recruited to occupy the space.
The property is unique in that it is strategically located in the
vibrant Lincoln Park community with multi-modal transportation options.
It is available for immediate occupancy.

We look forward to being part of the expanded Sterling Bay Life
Sciences team,” said David Saad, executive vice president, CBRE. “This
project will play an immediate and important role in the successful
expansion of Chicago’s life sciences community.”

About Sterling Bay

Sterling Bay is a leading investment and development company with
expertise spanning all aspects of real estate ownership. Known for
creating world-class urban campuses for companies such as Google,
McDonald’s, Uber, Glassdoor, Dyson, Hillshire Brands and Gogo, Sterling
Bay is consistently recognized for award-winning projects that transform
space, enhance communities and strengthen a company’s culture and brand.
Sterling Bay’s team of more than 200 professionals is responsible for a
portfolio exceeding $3 billion and a development pipeline in excess of
$8.7 billion. For more information, visit www.sterlingbay.com.

About Prysm Life Sciences

Interested life science companies and innovators who are interested in
working with us to drive more innovative solutions for healthcare to
Illinois, can visit www.prysmlifesciences.com
for more information.

Contacts

CG Life
Julie Ferguson
jferguson@cglife.com
(312)
385-0098

BlackRock Declares Quarterly Dividend of $3.30 on Common Stock

Published

on

Reading Time: 1 minute

NEW YORK–(BUSINESS WIRE)–BlackRock, Inc. (NYSE:BLK) today announced that its Board of Directors
has declared a quarterly cash dividend of $3.30 per share of common
stock, payable June 20, 2019 to shareholders of record at the close of
business on June 6, 2019.

About BlackRock

BlackRock helps investors build better financial futures. As a fiduciary
to investors and a leading provider of financial technology, our clients
turn to us for the solutions they need when planning for their most
important goals. As of March 31, 2019, the firm managed approximately
$6.52 trillion in assets on behalf of investors worldwide. For
additional information on BlackRock, please visit www.blackrock.com
| Twitter: @blackrock | Blog: www.blackrockblog.com
| LinkedIn: www.linkedin.com/company/blackrock.

Contacts

Investor Relations
Samantha Tortora
212-810-5397
samantha.tortora@blackrock.com

Media Relations
Brian Beades
212-810-5596
brian.beades@blackrock.com

Continue Reading

TechTarget Integrates 1st and 3rd Party Intent Data within Priority Engine Platform to Help Companies Make Faster Sales and Marketing Progress with Best Fit Accounts

Published

on

Reading Time: 3 minutes

Enhanced account prioritization and intelligence combines
relevant TechTarget intent, fit and customer engagement data to improve
sales and marketing conversions

NEWTON, Mass.–(BUSINESS WIRE)–TechTarget,
Inc.
 (Nasdaq: TTGT), the global leader in B2B technology purchase
intent data and services today announced the release of enhanced account
rankings and insights in IT Deal Alert Priority
Engine
TM, fueled by 1st and 3rd
party purchase intent data. Marketing and sales teams will now be able
to leverage this new intelligence to get to the right accounts and
prospects faster, increasing conversions and accelerating pipeline.

“TechTarget has always focused on delivering ROI,” said Michael Cotoia,
CEO, TechTarget. “These new updates now make it even easier for our
customers to close deals faster by helping them find the prospects that
are directly in their sweet spot.”

TechTarget’s Priority Engine is a SaaS-based platform that delivers
direct access to the most active in-market accounts and fully
permissioned prospects doing purchase research in specific technology
markets. In addition to providing exclusive third-party intent insights
on the topical interests of accounts, recency and relevancy of activity,
vendor consideration and installed technologies, TechTarget is now able
to integrate multiple first-party insights, such as Ideal Customer
Profile (ICP) matching, direct engagement on a vendor’s website and
specific interactions buyers have with a customer’s content and
advertising across the TechTarget network within the platform to deliver
vastly improved account prioritization capabilities. This latest release
provides better tools for enterprise technology marketing and sales
teams to more effectively reach and engage high value accounts within
their total addressable market, including:

  • Personalized account rankings that reflect organic research
    with TechTarget AND direct engagement with the customer to improve
    marketing and sales effectiveness.
  • Ideal Customer Profile creation and filtering directly within
    Priority Engine to efficiently find, track and convert identified best
    fit customers.
  • Enhanced qualification intelligence showcases the key
    attributes that make accounts high priority targets, including: buying
    stage, ICP match and if there is a confirmed project.
  • Improved engagement signals show you precisely when accounts
    visit your website, click on your banners and/or download your content.
  • Indicators of new and recent activities give sales users new
    reasons to call and help them engage the buying team with highly
    tailored outreach.

TechTarget, named a Leader in The Forrester WaveTM: B2B
Marketing Data Providers, Q3 2018, has cemented its leadership in its
space because of the significant value and ROI its customers achieve.
TechTarget purchase intent insight is uniquely powerful because of how
it is made and how it is delivered to B2B tech marketers and sales
professionals. The actionable insights within the Priority Engine
platform are achievable because of the depth of original
decision-support content spanning 10,000 unique IT topics across
TechTarget’s network of over 140 enterprise technology-specific websites
as well as the Company’s suite of marketing and sales engagement
services.

“Over the past six months we’ve been focused on bringing even more
actionable data into Priority Engine to help our customers more
efficiently identify and make progress with best fit accounts,” said
Andrew Briney, Senior Vice President of Products, TechTarget. “This
release marks a major milestone in these efforts and a big leap forward
for the platform.”

To learn more about Priority Engine, please or visit TechTarget.com/Priority-Engine.

About TechTarget

TechTarget
(Nasdaq: TTGT) is the global leader in purchase intent-driven marketing
and sales services that deliver business impact for enterprise
technology companies. By creating abundant, high-quality editorial
content across more than 140 highly targeted technology-specific
websites, TechTarget attracts and nurtures communities of technology
buyers researching their companies’ information technology needs. By
understanding these buyers’ content consumption behaviors, TechTarget
creates the purchase intent insights that fuel efficient and effective
marketing and sales activities for clients around the world.

TechTarget has offices in Boston, London, Munich, Paris, San Francisco,
Singapore and Sydney. For more information, visit techtarget.com
and follow us on Twitter @TechTarget.

(C) 2019 TechTarget, Inc. All rights reserved. TechTarget and the
TechTarget logo are registered trademarks and IT Deal Alert and Priority
Engine are trademarks of TechTarget. All other trademarks are the
property of their respective owners.

Contacts

Media Inquiries
Garrett Mann
Director of Marketing
TechTarget,
Inc.
617-431-9371
gmann@techtarget.com

Continue Reading

AM Best Affirms Credit Ratings of The Allstate Corporation and Its Key Subsidiaries

Published

on

Reading Time: 4 minutes

OLDWICK, N.J.–(BUSINESS WIRE)–AM Best affirmed the Financial Strength Rating (FSR) of A+
(Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of
“aa” of the members of Allstate Insurance Group (Allstate).
Additionally, AM Best has affirmed the FSR of A (Excellent) and the
Long-Term ICRs of “a” of the members of Allstate New Jersey Insurance
Group (collectively referred to as Allstate New Jersey) (headquartered
in Bridgewater, NJ). Concurrently, AM Best has affirmed the FSR of A+
(Superior) and the Long-Term ICRs of “aa” of the key life/health members
of the Allstate Life Group (Allstate Life). At the same time, AM Best
has affirmed the Long-Term ICR of “a”, and all existing Long- and
Short-Term Issue Credit Ratings (Long-Term IR; Short-Term IR) of the
ultimate parent, The Allstate Corporation (Allcorp). The outlook of
these Credit Ratings (ratings) is stable.

All the above named companies are headquartered in Northbrook, IL,
except where specified. (See link below for a detailed listing of the
companies and ratings.)

The ratings of Allstate reflect its balance sheet strength, which AM
Best categorizes as strongest, as well as its strong operating
performance, favorable business profile and very strong enterprise risk
management (ERM).

Allstate’s strong capital position reflects its favorable earnings,
which have contributed to organic surplus growth in each of the past
five years on a pre-dividend basis. Allstate’s operating results
continue to be favorable due to enhanced pricing sophistication, and
improved loss cost and expense management while maintaining underwriting
discipline. Additionally, Allstate has a significant market presence and
favorable overall business profile as one of the largest personal lines
writers in the United States. Allstate also benefits from the additional
liquidity provided by Allcorp and its subsidiary, Kennett Capital, Inc.,
and through access to capital markets, lines of credit and its
commercial paper program. The group’s favorable margins are attributable
to enhanced pricing accuracy and risk optimization, along with its solid
core underwriting capabilities, prudent capital management and sizable
investment income. Lastly, underwriting results also reflect the
favorable impact of Allstate’s ongoing risk management actions, various
expense management initiatives and its significant investment in
technology, as Allstate has shown the ability to adapt quickly to market
trends to ensure continued underwriting and operating profitability.

Partially offsetting these positive rating attributes is Allstate’s
inherent exposure to natural disasters due to its expansive market
presence throughout the United States. However, Allstate over the past
several years has maintained an extensive catastrophe risk exposure
management program, including a significantly enhanced property
catastrophe reinsurance program, stricter underwriting guidelines,
increased deductibles and discontinuance of selected lines of coverage
such as earthquake. In addition, this expansive geographic presence
provides inherent diversification against the impact of one or a few
significant weather events. The group’s underwriting results in recent
years have benefited from these risk-management actions. While the group
maintains above-average underwriting and investment leverage, relative
to industry norms, it has maintained capital levels supportive of its
business risks.

The ratings of Allstate New Jersey reflect its balance sheet strength,
which AM Best categorizes as very strong, as well as its strong
operating performance, limited business profile and appropriate ERM.
Additionally, the ratings recognize the financial strength, ERM and
continued support of Allstate Insurance Company, as well as Allcorp.

Allstate New Jersey maintains favorable risk-adjusted capitalization,
consistently profitable operating performance and management’s local
market knowledge. These positive rating attributes are offset partially
by the group’s business concentration within one state, resulting in
potential operating variability due to local market disruptions and
localized catastrophe weather events. The ratings further recognize the
consistent profitability trends in underwriting in recent years, along
with the expectation that trends in capitalization and operating
performance will continue in the near to medium term.

The ratings of Allstate Life reflect its balance sheet strength, which
AM Best categorizes as very strong, as well as its strong operating
performance, favorable business profile and very strong ERM.
Additionally, the ratings recognize the financial strength and continued
support of Allstate Insurance Company, as well as Allcorp.

Allstate Life’s overall balance sheet strength assessment is supported
by its very strong risk-adjusted capitalization and favorable liquidity,
as well as the organization’s expertise in stress testing and economic
capital modeling. Partially offsetting these strengths are the company’s
somewhat higher level of investment risk as a percentage of capital and
surplus, which is also higher than industry benchmarks. This risk is
mitigated partially by the use of a barbell asset allocation strategy,
which allows for longer dated annuity liabilities to be backed by
alternative assets, and the utilization of cash flow duration-matched
assets for shorter dated liabilities.

Allstate Life’s strong operating performance benefits from its core
traditional life and voluntary benefit product sales growth and its
favorable underwriting results, which are enhanced by a consistent
stream of net investment income. The company continues to manage the
run-off of its declining, yet sizable, exposure to interest sensitive
business within its annuities segment. Allstate Life’s recognized market
presence and strength of distribution across the organization create
additional benefits and synergies that drive its ability to compete in
its core markets. The company continues to work toward further
enhancement of digital capabilities in order to create a streamlined
consumer experience and increased efficiency. Allstate Life benefits
from a very strong risk culture and governance that has been embedded
throughout the organization.

A complete
listing
of The Allstate Corporation and its property/casualty and
life/health subsidiaries’ FSRs, Long-Term ICRs and Long- and Short-Term
IRs also is available.

This press release relates to Credit Ratings that have been published
on AM Best’s website. For all rating information relating to the release
and pertinent disclosures, including details of the office responsible
for issuing each of the individual ratings referenced in this release,
please see AM Best’s
Recent
Rating Activity
web page. For additional information
regarding the use and limitations of Credit Rating opinions, please view
Understanding
Best’s Credit Ratings
. For information on the proper media
use of Best’s Credit Ratings and AM Best press releases, please view
Guide
for Media – Proper Use of Best’s Credit Ratings and AM Best Rating
Action Press Releases
.

AM Best is a global rating agency and information provider with a
unique focus on the insurance industry. Visit
www.ambest.com
for more information
.

Copyright © 2019 by A.M. Best Rating Services, Inc. and/or its
affiliates. ALL RIGHTS RESERVED.

Contacts

Edin Imsirovic
Senior Financial Analyst – P/C
+1
908 439 2200, ext. 5740

edin.imsirovic@ambest.com

Christopher
Sharkey

Manager, Public Relations
+1 908 439
2200, ext. 5159

christopher.sharkey@ambest.com

Kate
Steffanelli

Senior Financial Analyst- L/H
+1 908
439 2200, ext. 5063

kate.steffanelli@ambest.com

Jim
Peavy

Director, Public Relations
+1 908 439
2200, ext. 5644

james.peavy@ambest.com

Continue Reading

Trending Online

Grassnews is a news publishing website which digests / hand picks the latest news about the cannabis industry, and serves them to you daily.

Contact us: pressroom@grassnews.net

© Grassnews.net 2019 - part of PICANTE Media. All rights reserved. Registered in Romania under Proshirt SRL, Company number: 2134306, EU VAT ID: RO21343605. Office address: Blvd. 1 Decembrie 1918 nr.5, Targu Mures, Romania