// Biotech and Pharma Therapeutics
To Advance Health Equity, We Must Stop Shaming Fax
August 13, 2024 / Health Equity / Digital Fax Integration / Healthcare / AI / Tech Equity
To advance health equity, we must integrate digital fax with modern technology rather than dismissing it, ensuring under-resourced healthcare facilities can participate in data interoperability.
Evotec’s progress in BMS tie-up to prompt $75 million milestone payments
August 13, 2024 / Evotec / Partnership / Drug Discovery
Evotec’s partnership with Bristol Myers Squibb advances, triggering $75 million in milestone payments for progress in developing a molecular glue-based pipeline.
This New Venture Firm Thinks Payers Will Be the Ones to Drive Change in the Healthcare Industry
August 12, 2024 /Create Health / Clinical Trials / Data Integration / Healthcare / Startups
Create Health Ventures launches with a $21 million fund to invest in digital health startups focused on payers and pharma, aiming to drive innovation in care access and data integration, particularly for underserved populations.
In a one-two punch for Lykos, 3 articles on MDMA treatment retracted due to unethical conduct
August 12, 2024 / Lykos Therapeutics / PTSD / Clinical Trials / MDMA
Psychopharmacology retracted three articles on Lykos Therapeutics’ MDMA trials for PTSD due to unethical conduct at a study site, involving undisclosed protocol violations and conflicts of interest.
Lif broadly supportive of report on Danish healthcare
August 12, 2024 / Healthcare Reform / Denmark / Lif Consultation / Public Health
The Danish Pharmaceutical Industry Association (Lif) supports the Health Structure Commission’s report, emphasizing the need for a robust public healthcare system that ensures quick, equitable access and high-quality care across Denmark.
// 4th Industrial Revolution
What’s Keeping Healthcare CIOs Up at Night: How to Improve Patient Satisfaction by Handling Calls More Efficiently
August 13, 2024 / Patient Care / IVR / IVA / Automation / Healthcare
Healthcare CIOs must balance automation and human interaction to enhance patient satisfaction, reduce call center burdens, and improve access to care, especially as phone interactions remain crucial in a consumer-driven healthcare landscape.
Absci and MSK Collaborate on Generative AI Drug Discovery
August 12, 2024 / AI / Drug Discovery / MSK Collaboration / Cancer Therapeutics / Oncology
Absci Corporation partners with Memorial Sloan Kettering Cancer Center to leverage generative AI for the discovery of up to six novel cancer therapeutics, aiming to advance cancer treatment by integrating AI-driven drug creation with expert cancer biology research.
Sheba Medical Center Develops AI Algorithm to Predict Pulmonary Embolism
August 12, 2024 / AI / Sheba Medical Center / Pulmonary Embolism Prediction / Machine Learning / Early Detection
Sheba Medical Center developed an AI algorithm that accurately predicts pulmonary embolism risk upon hospital admission, enabling earlier detection and intervention, as demonstrated in a study analyzing over 46,000 patient records.
Stryker to acquire AI-assisted virtual care company Care.ai
August 12, 2024 /Stryker / Care.ai / Virtual Care / IT Innovation / Medical Devices
Stryker is set to acquire Care.ai, a company specializing in AI-assisted virtual care and smart room technology, to enhance its healthcare IT offerings and support connected care amidst rising challenges like nursing shortages and staff burnout.
The impact of AI and telemedicine on behavioral health services
August 12, 2024 / AI / Behavioral Health / Telemedicine / Mental Health
AI and telemedicine are transforming behavioral health by improving resource allocation, enhancing clinician efficiency, and increasing access to care. These technologies enable proactive, personalized interventions, addressing the growing demand for mental health services.
// Business & Markets
Can Rite Aid Recover?
August 13, 2024 / Rite Aid / Bankruptcy / Mckesson / Store Closures / Debt Reduction
Rite Aid’s bankruptcy reflects ongoing challenges, including a shrinking store footprint, heavy debt, and strained relations with key wholesaler McKesson. Despite optimistic projections, the company’s recovery remains uncertain amidst broader retail pharmacy struggles.
Sluggish enrollment leads Boundless Bio to make ‘modest’ layoffs 5 months after $100M IPO
August 13, 2024 / Boundless Bio / Clinical Trials / Oncology / Cancer / Drug Development
Boundless Bio is making “”modest”” layoffs, affecting under 20% of its workforce, due to sluggish enrollment in a trial for its lead cancer drug BBI-355, just five months after raising $100 million in its IPO.
Halda Therapeutics secures $126 million financing
August 13, 2024 / Halda Therapeutics / Cancer / Drug Development
Halda Therapeutics raised $126 million in a Series B extension, bringing its total funding to $202 million. The biotech startup is developing RIPTAC therapeutics, a novel class of cancer therapies.
Carlyle to buy Baxter’s kidney-care spinoff Vantive for $3.8 billion
August 13, 2024 / Carlyle Group / Baxter / Kidney Care / Acquisition / Debt Reduction
Carlyle Group will acquire Baxter’s kidney-care spinoff, Vantive, for $3.8 billion, aiding Baxter in reducing its $13.8 billion debt. The deal, expected to close by early 2025, will transform Vantive into a standalone global business.
The Challenges and Opportunities of Evolving Revenue Cycle Management Practices to Align with New Payment Models
August 12, 2024 / Value-based Care / Revenue Cycle Management / Healthcare / Data Analytics
Revenue cycle management (RCM) is evolving to align with value-based care, emphasizing quality over quantity. This shift presents challenges like data integration and workflow redesign, but also opportunities for improved efficiency, patient outcomes, and financial performance.
// Legal & Regulatory
India greenlights eight orphan drugs, transforming rare disease treatment
August 12, 2024 / India / Orphan Drugs / Drug Approval / Drug Manufacturing
India approved the manufacture of eight orphan drugs to treat rare diseases like spinal muscular atrophy, enhancing domestic pharmaceutical capabilities under the Production Linked Incentive (PLI) scheme.
Enzo Biochem to pay $4.5 mln over cyberattack, NY attorney general says
August 13, 2024 / Enzo Biochem / Cyberattack / Settlement / Data Protection
Enzo Biochem will pay $4.5 million to settle charges for inadequate security leading to a 2023 cyberattack that compromised sensitive information of 2.4 million patients. The company is now enhancing its cybersecurity measures.
J&J has enough support for $6.5 bln talc settlement: Bloomberg
August 12, 2024 / Johnson & Johnson / Lawsuit / Bankruptcy / Litigation / Texas
Johnson & Johnson has reportedly secured over 75% support from claimants for its $6.5 billion talc settlement, which addresses lawsuits alleging its talc products cause cancer. The settlement is part of J&J’s third attempt using bankruptcy protection.
Galderma gets FDA nod for prurigo nodularis therapy
August 13, 2024 / FDA Approval / Galderma Nemluvio
Galderma received FDA approval for Nemluvio (nemolizumab), an IL-31 inhibitor for treating prurigo nodularis, a rare, debilitating skin disease. The drug, which may achieve blockbuster status, offers a new treatment option with significant efficacy in reducing itch and nodules.
Enhertu gains new approval in China
August 13, 2024 / Enhertu China Approval / Gastric Cancer / Drug Approval
Daiichi Sankyo’s Enhertu received conditional approval in China for treating HER2-positive gastric or gastroesophageal junction adenocarcinoma, following two prior treatments. Approval is based on positive Phase II trial results, with full approval pending confirmatory trials.
// Research & Development
Ovid halts preclinical work, IV seizure program in wake of soticlestat’s phase 3 stumble
August 13, 2024 / Ovid Therapeutics / Epilepsy Treatement / Drug Development
Ovid Therapeutics is halting preclinical work, including an IV seizure drug program, following the phase 3 failure of soticlestat. The company is focusing on key priorities, including OV329’s oral formulation and a ROCK2 inhibitor for cerebral cavernous malformations.
Atai advances oral psychedelic in depression
August 13, 2024 / Atai Life Sciences / Oral Psychadelic / Depression / FDA / Psychadelic Therapy
Atai Life Sciences is advancing its oral psychedelic DMT for treatment-resistant depression, reporting early data from a Phase 1b trial. This progress continues despite the FDA’s recent rejection of MDMA-assisted psychotherapy.
Francis Crick scientists reveal how cells ‘raise the alarm’ when damaged or infected
August 13, 2024 / Francis Crick / Drug Development / Cell Damage Detection
Francis Crick Institute scientists discovered how cells detect acid leaks during damage or infection, with the V1H protein in the V-ATPase complex playing a key role in raising the alarm. This finding may lead to new drug development avenues.
Australian biotech’s cortisol blocker fails to improve attention in phase 2 depression study
August 12, 2024 / Depression Trial / Clinical Trial Failure / Alzheimer’s Treatment
Actinogen Medical’s cortisol blocker, xanamem, failed to improve attention in a phase 2 depression study, missing its primary endpoint. The company will now focus on xanamem’s potential in Alzheimer’s disease, where ongoing trials continue.
Weight-loss drugs like Wegovy may help stave off some cancers
August 12, 2024 / GLP-1 / Wegovy / Ozempic / Cancer / Weight-loss
GLP-1 agonists, like Wegovy and Ozempic, initially used for obesity and diabetes, show promise in reducing the risk of several cancers linked to obesity. Research suggests these drugs may lower cancer risk through weight loss and other mechanisms.
// Politics
Proposed new Medicare billing codes could boost digital mental health treatment
August 13, 2024 / Medicare / Digital Mental Health Treatment / Healthcare Innovation
Medicare’s proposed 2025 billing codes for digital mental health treatments (DMHT) could enhance access to FDA-cleared therapies for conditions like anxiety and insomnia. This move may spur innovation, investment, and broader adoption of digital therapeutics in mental healthcare.
Lawmakers tout new pharmacy law supporting locally owned businesses
August 13, 2024 / Lawmakers / Drug Pricing Regluations / MedTech / Geopolitical Influence / Healthcare
Global life sciences face challenges and opportunities due to geopolitical tensions, economic shifts, and evolving regulations. Upcoming elections in the US, UK, and India will impact drug pricing, healthcare investment, and innovation, influencing the industry’s future landscape.
TRICARE becomes part of fight over pharmacy benefit managers
August 13, 2024 / Tricare / Pharmacy Benefits / Medicare / Lawmakers
TRICARE faces criticism for renewing its contract with Express Scripts amid concerns over reduced pharmacy networks and low reimbursement rates, which have driven independent pharmacies out of the program. Lawmakers and advocacy groups are questioning beneficiary access and potential anti-competitive practices.
New law requires $10 dispensing fee and will cost Kentuckians at the pharmacy
August 8, 2024 / Kentucky / SB 188 Law / Pharmacy Dispensing Fee / Healthcare Costs
Kentucky’s new SB 188 law mandates a $10 pharmacy dispensing fee per prescription, potentially raising healthcare costs by hundreds of millions annually. The law restricts Pharmacy Benefit Managers, which may lead to higher prescription costs and reduced medication adherence.
Pennsylvania Lawmakers Address Prescription Drug Costs with New Pharmacy Legislation
August 13, 2024 / Pennsylvania / Act 77 / PBM Transparency Reports / Drug Cost Reduction
Pennsylvania’s Act 77 of 2024, introduced by Rep. Jessica Benham, aims to reduce prescription drug costs and support independent pharmacies by regulating Pharmacy Benefit Managers (PBMs), addressing practices like patient steering and retroactive payment recoupment.