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Freenome Closes $160 Million Series B Financing to Advance Its Multiomics Blood Testing Platform for Early Cancer Detection
Proceeds Will Fund Pivotal Validation Study of Company’s Blood-based Test for the Screening of Colorectal Cancer Platform Has Potential for Use in Multiple Cancer Types and Enhanced Drug Development by Characterizing Tumor and Immune Signatures July 24, 2019 09:00 AM Eastern Daylight Time SOUTH SAN FRANCISCO, Calif.--(BUSINESS WIRE)--Freenome, a biotechnology company that has pioneered the most comprehensive multiomics platform for early cancer detection through a routine blood draw, today announced the close of its $160 million Series B financing, bringing its total financing to $238 million to date. Freenome will use the proceeds to further the development of its early cancer detection blood test powered by its platform. The Company plans to conduct a pivotal validation study and submit to the U.S. Food and Drug Administration (FDA) and Centers for Medicare & Medicaid Services (CMS) under the Parallel Review Program the first application of its platform in colorectal cancer screening and expand its laboratory infrastructure and software to support its continued growth.
-- Financing proceeds to advance ArunA Bio’s neural exosome therapies for neurodegenerative diseases and partnering activities -- -- ArunA Bio establishes an office in Research Triangle Park, NC -- Athens, GA; Research Triangle Park, NC - July 24, 2019—ArunA Bio, Inc., a leader in the development of neural exosomes for the treatment of neurodegenerative diseases, today announced the completion of a $13 million common stock financing. Proceeds from the financing will be used to support the continued development of ArunA Bio’s neural exosome delivery platform and pipeline of novel neural exosome therapies for the treatment of neurodegenerative diseases such as ALS and Huntington’s Disease, as well as stroke. The financing included both existing and new private investors along with participation by several institutional investors including Eshelman Ventures and members of the Board of Directors and management.
Unites Four of the Top US Clinical Research Facilities to Reduce Time and Cost for New Drug Development SALT LAKE CITY, July 18, 2019 /PRNewswire/ -- CenExel Clinical Research, Inc., ("CenExel" or the "Company") announces the creation of their Centers of Excellence company, which unites four of the most experienced clinical research units in the country to design and execute Phase I-IV trials, including Phase I studies in patient populations, to help pharmaceutical companies improve the time and cost of new therapy development for better patient care. CenExel operates state-of-the-art facilities in Utah, California, Georgia and Maryland, with some of the most accomplished Clinical Opinion Leaders and experienced staff in the world for conducting clinical trials. The CenExel Centers of Excellence include JBR Clinical Research, Atlanta Center for Medical Research (ACMR), Anaheim Clinical Trials (ACT), and CBH Health, each recognized as one of the most experienced and trusted research facilities in their respective fields: post-operative pain, central nervous system (CNS) disorders, chronic disease management, Asian pharmacokinetic bridging studies, psychiatric illnesses, and others. "CenExel Centers of Excellence offer pharmaceutical companies and clinical research organizations access to some of the finest investigators and facilities in the world for conducting research," said Tom Wardle, CEO.
Sharecare names Quest Diagnostics its preferred laboratory partner to advance digital health management
Sharecare, the digital health company that helps people manage all their health in one place, and Quest Diagnostics (NYSE: DGX) have formed a collaboration designed to improve digital health and disease management for a range of health care consumers. Sharecare has named Quest its preferred laboratory partner for its comprehensive digital health platform. Sharecare and Quest Diagnostics also intend to jointly explore the development of disease management programs and other services to empower better health. In addition, Quest has made a strategic investment in Sharecare for an undisclosed sum with Goldman Sachs serving as Sharecare’s financial advisor. Additional terms were not disclosed. “With its expertise, quality and reach, Quest Diagnostics is the trusted leader in diagnostic information services. Together, we will elevate the Sharecare experience and empower individuals to access better insights into their health risks,” said Jeff Arnold, co-founder, chairman and CEO for Sharecare.
Removal of Safe Harbor Protection for Rebates to Plans or PBMs Involving Prescription Pharmaceuticals and Creation of New Safe Harbor Protection
BIO’s President and CEO Jim Greenwood issued the following statement after it was reported that the Trump administration is withdrawing its proposed rebate rule that would have required savings from drugmakers’ rebates be passed along to seniors enrolled in the Medicare drug benefit program: “The administration has abandoned one of the only policy solutions that would have truly lowered what patients are forced to pay out of pocket for the medicines they need. This decision discards a proposal that would have also delivered meaningful transparency to an opaque system that puts the financial interests of middlemen ahead of the well-being of patients.
The next EU Commission should take a stronger position on innovation in the pharma sector, the new leader of the European Federation of Pharmaceutical Industries and Associations (EFPIA) told EURACTIV.com in an interview. “It will be important for the next European Commission to make an official statement on how they feel about innovation and how they want to protect and develop innovation,” Jean-Christophe Tellier, the newly elected President of EFPIA and CEO of biopharmaceutical company UCB, told EURACTIV. He added that it is equally important to put in place frameworks to facilitate access to innovation. “We’ve noticed that EU countries are delaying the ability to put innovations on the market due a very long process of pricing, but the deadline of the patent is always the same,” he said.
Legislation will strengthen pipeline of medical countermeasures against serious public health threats The Biotechnology Innovation Organization (BIO) today applauds the enactment of the Pandemic and All-Hazards Preparedness and Advancing Innovation (PAHPAI) Act, signed into law by President Trump late yesterday. The law re-authorizes critical federal biodefense programs and agencies, including the BioShield Special Reserve Fund (SRF), the Biomedical Advanced Research and Development Authority (BARDA), and the Strategic National Stockpile (SNS). It authorizes funding for pandemic influenza product development and procurement for the first time.
The U.S. Food and Drug Administration (FDA) is relocating its Atlanta operations to Fort McPherson, a former Army base in southwest Atlanta. The FDA, which is currently located on Peachtree Street in Midtown, will open a new lab and offices at Fort Mac, bringing 350 scientist and staff jobs to the project. That opens up a potentially big redevelopment opportunity in Midtown.
Public-private investment will prepare 8th-12th grade students in rural communities for careers in biomanufacturing of agriculture, medicine, food and beverage products. ATLANTA--(BUSINESS WIRE)--Included in Georgia’s 2020 budget signed into law by Governor Brian Kemp on May 10 are funds to support life sciences education in rural school systems through the Georgia Department of Education and the Georgia Youth Science & Technology Centers. “The life sciences industry is a leading driver of employment nationally, but leaders express concern about the availability of a strong workforce,” said Georgia Bio President & CEO Maria Thacker-Goethe. “We need educators to be aware of the vast, high paying jobs available in the life sciences industry here in Georgia. By expanding our proven teacher trainings statewide, we will equip educators with the academic, technical, and leadership skills to meet the students’ interests and industry’s needs.” These trainings are the first of their kind nationally and set Georgia to be a premier training location for this skilled workforce. Curriculum developed in collaboration with the Georgia Institute of Technology and University of Georgia, specifically the Center for Cell Manufacturing Technologies (CMaT), will prepare students to work in biomanufacturing and the emerging biotech industry. These hands-on applications of STEM learning will solidify what students learn in other classes, as well as provide skills required for tomorrow’s workforce. More on the programs at www.gabio.org.
Shares of cancer-therapy companies shot up on Monday after Pfizer Inc. announced it would acquire cancer drug maker Array BioPharma Inc. in a deal worth up to $11.4 billion. Shares of Incyte Corp. INCY, +2.94% rose 5.3% on Monday afternoon, while shares of Iovance Biotherapeutics Inc. IOVA, +3.83% shot up 13% and shares of Turning Point Therapeutics Inc. TPTX, +3.40% jumped 12.6%. Shares of Blueprint Medicines Corp. BPMC, +2.77% rose around 6% and Mirati Therapeutics Inc. MRTX, +1.73% shares gained 5.4%, while the SPDR S&P Biotech ETF XBI, +1.70%advanced 4.2%. Pfizer’s acquisition “signals more deals will happen,” Jefferies health-care trading desk strategist Jared Holz told MarketWatch in an email, adding that the amount Pfizer paid — $48 a share, an almost 13% premium over Monday’s share price — bodes well for potential acquisition targets. Anticipation around M&A should continue to drive momentum in the share price of some cancer-therapy companies, he said.
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