By Connor Hart
Richardson Electronics sold a majority of its healthcare arm to medical-imaging company DirectMed. The maker of engineered solutions and green-energy products said the deal will simplify its business, improve its financial model and allow it to prioritize opportunities within higher-growth markets. It also entered an exclusive 10-year global supply agreement with DirectMed under which it will supply the company with repaired Siemens CT X-ray tubes. Shares rise 12%, to $14.70, in after-hours trading.
Tevogen Bio Holdings expanded its artificial-intelligence partnership with Microsoft. The immunotherapy biotech company said its AI effort, Tevogen.AI, will integrate Microsoft's advanced AI tools and the Microsoft Azure cloud platform to perform simulations that will accelerate the identification of new targets. It will additionally create new algorithms to decode the interactions between human leukocyte antigens and T cells, enhancing the company's understanding of immune responses. Shares climb 30%, to $1.75, in after-hours trading.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
January 24, 2025 18:45 ET (23:45 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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