Freenome Closes $160 Million Series B Financing to Advance Its Multiomics Blood Testing Platform for Early Cancer Detection
Wednesday, July 24, 2019 03:57 PM

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.

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ArunA Bio Raises $13 Million in Common Stock Financing
Wednesday, July 24, 2019 12:00 AM

-- 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.

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CenExel Clinical Research Establishes Clinical Trial Centers Of Excellence Company
Thursday, July 18, 2019 12:00 AM

Unites Four of the Top US Clinical Research Facilities to Reduce Time and Cost for New Drug Development

SALT LAKE CITYJuly 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 UtahCaliforniaGeorgia 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. 

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Sharecare names Quest Diagnostics its preferred laboratory partner to advance digital health management
Friday, July 12, 2019 12:00 AM

ATLANTA (July 12, 2019) – 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.

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Removal of Safe Harbor Protection for Rebates to Plans or PBMs Involving Prescription Pharmaceuticals and Creation of New Safe Harbor Protection
Thursday, July 11, 2019 03:55 PM

Washington, D.C. (July 11, 2019) – 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.

“It is deeply disappointing the administration succumbed to the same old scare tactics we see from the insurance industry whenever policymakers aim to address the discriminatory tactics insurers use against patients. The president has promised to rein in the role of middlemen and ensure patients directly benefit from the significant rebates biopharmaceutical companies provide, but today that promise was broken. 

“This decision has dealt a blow to some of the most vulnerable patients, and it only heightens the urgency for Congress to adopt a reasonable cap on out-of-pocket costs for America’s seniors.”

Remarks by President Donald Trump, May 11, 2018:

  • “We’re also increasing competition and reducing regulatory burdens so drugs can be gotten to the market quicker and cheaper.  We’re very much eliminating the middlemen.  The middlemen became very, very rich.  Right? Whoever those middlemen were — and a lot of people never even figured it out — they’re rich.  They won’t be so rich anymore.”
  • “Our plan will end the dishonest double-dealing that allows the middleman to pocket rebates and discounts that should be passed on to consumers and patients.”

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About BIO

BIO is the world's largest trade association representing biotechnology companies, academic institutions, state biotechnology centers and related organizations across the United States and in more than 30 other nations. BIO members are involved in the research and development of innovative healthcare, agricultural, industrial and environmental biotechnology products. BIO also produces the BIO International Convention, the world’s largest gathering of the biotechnology industry, along with industry-leading investor and partnering meetings held around the world. BIOtechNOW is BIO's blog chronicling “innovations transforming our world” and the BIO Newsletter is the organization’s bi-weekly email newsletter. Subscribe to the BIO Newsletter.

 
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