Under a deal announced Monday, Provention Bio will license the Amgen drug, AMG714, and test it in a mid-stage study. Amgen had previously licensed the compound to Celimmune, which tested it in two mid-stage studies, then was acquired by the Thousand Oaks, CA, pharmaceutical giant last year. Now further development of the antibody drug falls to Oldwick, N.J.-based Provention. Read more at Xconomy.
North American Sports Media Scores Record Revenues
According to a report scheduled to be released today by PricewaterhouseCoopers, the media side of sports in the U.S. and Canada overtook gate revenue in 2017 as the industry’s largest slice of revenue, and this year’s media haul is expected to top $20 billion for the first time. That’s just one takeaway from the PwC Sports Outlook, an annual study that tracks sales of media rights, sponsorship, tickets and merchandise generated by U.S. and Canadian-based professional and college sports properties. The report forecasts that the four categories will combine to see growth every year from 2018 through 2022, topping $70 billion for the first time this year and reaching $80 billion by 2022. Read more at the New York Business Journal.
RESIDENTIAL REAL ESTATE
Outer Boroughs Seeing Most Residential Construction in A Decade
Last year, Brooklyn had more new and converted apartments up for sale than Manhattan. That hasn’t happened in nearly a decade. Meanwhile, the number of new developments in Queens is set to overtake the number in Brooklyn in the next two years, the Wall Street Journal reports, citing housing pipeline data from Nancy Packes Data Services. In recent years, almost 50 percent of apartments hitting the market were in Manhattan, but this year the share is expected to slide back to 30 percent. Read more at BisNow.
Amazon May Split HQ2 Between New York & Virginia
Amazon’s search for a city to host its second North American headquarters (aka HQ2) may finally be nearing an end, after hundreds of submissions, lots of speculation, and over-the-top efforts by cities to woo the company’s billionaire founder, Jeff Bezos. After announcing a list of finalists earlier this year (including both New York City and Newark), Amazon is reportedly close to picking a city for HQ2—and once again, NYC is among the top contenders. Read more at Curbed New York.