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Do malls have any business getting into retail?


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In the past several months, continuing a practice begun with the 2016 acquisition of teen apparel retailer Aeropostale, Simon Property Group acquired a slew of retailers. In a way, bankruptcy courts last year served as shopping centers of a sort themselves. Simon, in partnership with licensing and brand management firm Authentic Brands Group (via their 50/50 joint venture, Sparc), bought Lucky Brand and Brooks Brothers; earlier in the year, with rival Brookfield, they bought Forever 21. At the end of the year, Brookfield and Simon snapped up J.C. Penney for a cash payment of $692 million and new term debt.
It s unusual, but there are reasons why a landlord might want to own its tenant, or even many tenants. Speaking to analysts last year, Simon Property CEO David Simon cited the most fundamental of all to make money  while minimizing the risk by calling it a sideline business.   ....

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Biotech startup raises $25M for cancer, Covid-19 vaccines


Biotech startup raises $25M for cancer, Covid-19 vaccines
Vaccines developed by Aivita Biomedical use a patient s own blood to attack cancer and Covid-19. But the company also offers a consumer skin-care product that it plans to begin selling more widely.
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New investments will help a biomedical startup in Irvine, California, push ahead with vaccines for cancer and Covid-19 and help fund the consumer launch of the company’s skin-care product.
Founded in 2016, Aivita Biomedical said it has raised $25 million in Series B-2 funding for what it expects will be a busy year ahead. In two previous rounds, the company raised $21 million. ....

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