Barnes Group Inc. - B STOCK NEWS

Hexagon AB announces plans to evaluate separating its Asset Lifecycle Intelligence (ALI) business through a Lex Asea distribution to shareholders. The new company ('NewCo') would include ETQ, Bricsys, and Utilities & Infrastructure businesses. NewCo, with approximately 5,000 employees, generated revenues of EUR 980 million with a 35% adjusted operating margin. The remaining Hexagon business has 19,600 employees with revenues of EUR 4,408 million and 28% adjusted operating margin. Mattias Stenberg, current ALI division President, would lead NewCo. The separation process is expected to take 12-18 months and requires board and shareholder approval.

BioArctic AB announced that its founder, Lars Lannfelt, will receive the Lifetime Achievement Award in Alzheimer's Disease Therapeutic Research at the CTAD Conference in Madrid from October 29 to November 1. The conference will feature presentations on lecanemab, including data on its clinical practice use and plasma biomarkers in the AHEAD 3-45 trial. Key sessions include three symposia focusing on lecanemab's continued treatment importance, real-world evidence from the U.S. and Japan, and combination therapy considerations. Two oral presentations will discuss lecanemab's treatment efficacy and AI-derived prognostic covariates, along with a poster presentation on transitioning from clinical trials to practice.

BioArctic AB's partner Eisai announced that Australia's Therapeutic Goods Administration (TGA) initially decided not to register lecanemab, an antibody for treating mild cognitive impairment and mild dementia due to Alzheimer's disease. Eisai plans to request reconsideration within 90 days, with TGA's final decision expected 60 days after. Lecanemab, developed through BioArctic and Eisai's collaboration, is already approved in several countries including the US, Japan, and China.

The antibody originated from BioArctic's research based on Professor Lars Lannfelt's work. Eisai leads global development and regulatory submissions, with Eisai and Biogen co-commercializing the product. BioArctic retains commercialization rights in the Nordic region and is preparing for joint commercialization with Eisai in Europe, pending approval.

Nearmap, a global leader in location intelligence solutions, has announced the expansion of its imagery coverage across the U.S. through a partnership with Hexagon's Content Program. This addition complements Nearmap's existing coverage of 87% of the U.S. population, allowing insurers to gain insights into less populated geographic regions.

The expanded coverage will be accessible through Partner Connect, the Betterview platform's ecosystem for integrating third-party geospatial datasets and tools. This enhancement enables insurance companies to:

• Optimize underwriting efficiency
• Reduce physical inspection spending
• Recommend risk mitigation steps to policyholders

Nearmap surveys over 100 million parcels in the United States up to three times per year, providing insurance companies with valuable location insights for better-informed decisions across the entire policy lifecycle.

ETQ, part of Hexagon, has launched the ETQ Reliance® Predictive Quality Analytics solution, integrating AI-driven analytics into its quality management system (QMS). This solution, developed in partnership with Acerta Analytics, enables automated early detection and proactive resolution of manufacturing issues.

Key features include:

• Manufacturing-specific data ingestion
• Advanced data analysis
• Predictive monitoring and alerts
• Automated root cause analysis

The solution aims to prevent production problems, limit variation, speed decision-making, and improve overall quality. It combines Acerta's LinePulse AI and machine learning technology with ETQ Reliance's advanced quality workflows, creating a predictive, closed-loop quality system.

This launch addresses manufacturers' concerns about plant performance, operational efficiency, compliance, risk management, and product recalls. The solution is available immediately for both new and existing ETQ Reliance NXG customers.

Barnes Group Inc. (NYSE: B) has announced an agreement to be acquired by funds managed by affiliates of Apollo Global Management, Inc. (NYSE: APO) in an all-cash transaction valued at approximately $3.6 billion. Barnes shareholders will receive $47.50 per share in cash, representing a premium of about 22% over Barnes' undisturbed closing share price on June 25, 2024.

The transaction, expected to close before the end of Q1 2025, is subject to approval by Barnes shareholders and regulatory approvals. Upon completion, Barnes will become a privately held company but continue to operate under the Barnes Group name and brand. The Barnes Board of Directors unanimously approved the agreement and recommends shareholders vote in favor.

As a result of this pending transaction, Barnes has suspended its financial guidance for the full year 2024 and will not conduct its third quarter 2024 conference call and webcast.

Fortunafi has announced the tokenization of Hilbert Capital's V1 Fund on Coinbase's Base, an Ethereum Layer-2 blockchain. Hilbert Capital, the asset management division of Nasdaq-listed Hilbert Group AB (NASDAQ: HILB B), joins Fortunafi's Tokenized Asset Protocol (TAP) app. The Hilbert V1 Fund aims to deliver absolute returns through an algorithmic market-neutral strategy, leveraging cryptoasset market properties for superior risk-adjusted returns.

Hilbert Capital, established in 2017, has a 7-year strategy performance track record and a team of 16 investment professionals, including 4 quantitative PhDs. This partnership is expected to expand Reservoir's reach and provide a new way of sourcing assets for Hilbert, while generating yield for Fortunafi's protocol users. The collaboration is seen as mutually beneficial, combining Fortunafi's crypto expertise with Hilbert's trading operation.

Barnes Group Inc. (NYSE: B) has announced its third quarter 2024 earnings conference call and webcast, scheduled for Friday, October 25, 2024. The company will release its financial results before the market opens and host a conference call at 8:30 a.m. (ET) to discuss the results and outlook. Investors can access the call through a live audio webcast on Barnes' website or via direct dial. The call will be recorded and available for playback until November 1, 2024. Supplemental materials will be posted on the company's Investor Relations section prior to the conference call.

BioArctic AB (Nasdaq Stockholm: BIOA B) has announced the publication of results from two phase 1 studies of exidavnemab in The Journal of Clinical Pharmacology. Exidavnemab is a monoclonal antibody targeting aggregated forms of α-synuclein, aimed at treating diseases like Parkinson's disease. The studies, conducted with AbbVie, involved 98 healthy volunteers, with 85 receiving exidavnemab. Results showed that exidavnemab was generally well-tolerated with an excellent half-life of approximately 30 days. The drug's high affinity and selectivity toward pathological α-synuclein aggregates are key for maintaining high target binding in the brain. CEO Gunilla Osswald expressed anticipation for starting the phase 2a study later this year.