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Hong Kong market could open cash flood gates for U.S. biotechs

“Pan estimates that by the end of the year, about half a dozen biotechs will probably list in Hong Kong, and another 10 will have submitted their applications” writes Midwest Communications Inc for 95kqds.com. “In Hong Kong there’s only one company that has a CAR-T program, which is Genscript Biotech Corporation, and it has a market value of around $6 billion. Source: 95kqds.com Share This:

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Inside New York City’s struggle to become a biotech hub

“For biotech startup founder Piraye Yurttas Beim, leaving New York City is often tempting” writes Lydia Ramsey for businessinsider.com. The intention of the hub is to raise the status of New York City’s biotech scene to the level of other major biotech hubs across the country, said James Patchett, the president of New York City Economic Development Corp., which is overseeing the campus’s development.A chunk of the funding will be used to build an “Applied Life Sciences Hub,” lab space for research and development. Source: businessinsider.com Share This:

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Harry Boxer’s four biotech stocks to watch today

“Biotechnology stocks dominate our list of top charts to watch, with a uranium producer also advancing to the list” writes Harry Boxer for marketwatch.com. The clinical-stage biopharma company announced it will host a conference call to discuss its third-quarter financial results May 9.Last week the company announced positive clinical trials data for its lung cancer therapies.CASI, +11.62% rose 48 cents, or 7.2%, to $7.14 on 773,700 shares traded Tuesday. Source: marketwatch.com Share This:

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U.S. agencies clash over who should regulate genetically engineered livestock

“The fight over biotech livestock plays out in Congress, as well, where Sen” writes Marc Heller for sciencemag.org. Young took issue with FDA’s position that biotech animals should be regulated similarly to drugs, which he called an “onerous” approach.On one side: FDA Commissioner Scott Gottlieb, whose agency regulates genetically engineered food similarly to a drug.In its draft guidance, FDA said prior authorization is necessary before introducing any food from such livestock into the food supply. Source: sciencemag.org Share This:

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Biotech stock Alkermes plunges 20% after FDA refuses to review its depression treatment

“Shares of biotech company Alkermes dropped 20 percent Monday after announcing the U.S. Food and Drug Administration refused to review the firm’s drug for treating depression” writes unknown author for cnbc.com. Alkermes said Monday it received a “Refusal to File” letter from the FDA regarding the company’s application for a new drug called ALKS 5461.The FDA added that “additional well-controlled clinical trials are needed prior to the resubmission of the [new drug application] for ALKS 5461,” the release said. Source: cnbc.com Share This:

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A Brooklyn-based startup that’s building cheaper robots to democratize biotech just closed a $10 million funding round

“Canine sees Opentrons robots transforming labs the ways PCs changed how people interacted with computers” writes Lydia Ramsey for businessinsider.com. The OT-2 starts at $4,000, a price point Opentrons says is 10 times less than traditional lab robots.Opentrons, a Brooklyn-based startup that’s trying to replace lab work that scientists often have to do by hand with a $4,000 robot, just raised $10 million.Will Canine, chief product officer at Opentrons, told Business Insider said about 75% of Opentrons customers hadn’t had a lab robot before their Opentrons machine.Opentrons develops robots that…

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Cramer’s charts show ‘signs of life’ for the struggling biotech sector

“But with the biotech ETF showing some signs of life, she thinks it’s worth watching these two former market darlings in case they start getting some traction” writes Elizabeth Gurdus for cnbc.com. With the biotechnology sector struggling to stay afloat in a more volatile market, CNBC’s Jim Cramer turned to technician Carolyn Boroden to spot any potential opportunities. Source: cnbc.com Share This:

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Big pharma’s under increasing pressure, and now everyone’s just waiting for a ‘detonator’ to set off a wave of huge deals

“The proposed deals will redraw the lines around what defines healthcare companies by putting different business all under one roof” writes Lydia Ramsey for businessinsider.com. In turn, the deals give the consolidated healthcare companies more leverage when it comes to paying for prescriptions and medical care.To counter that, biotech and pharma will have to do big deals of their own, Goldman Sachs analysts wrote in a note Friday.”We think large transformative deals would create companies with therapeutic leadership, more negotiating leverage with payers, synergy potential, and portfolio reshaping,” they said. Source:…

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A 39-year-old who left college to found his first biotech company now manages $365 million of his own money — here’s what he looks for when he invests

“Angermayer, 39, helped found a biotech company in 2000 that eventually became Alnylam Pharmaceuticals, quitting school to work on it” writes Lydia Ramsey for businessinsider.com. Because psilocybin has previously been tested, the company can go straight to later-stage trials, which could make it more straightforward to get to approval.Today, the company has a market cap of about $12 billion. Source: businessinsider.com Share This:

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AstraZeneca just spun off some of its drugs into a $250 million biotech

“It is not the first time AstraZeneca has shifted assets into a new biotech company in this way” writes Ben Hirschler for businessinsider.com. Chief Executive of AstraZeneca Pascal Soriot leaves after appearing at a commons science committee hearing at Portcullis House in London Thomson Reuters LONDON (Reuters) – AstraZeneca is spinning off six early-stage experimental drugs into a new $250 million standalone biotech company focused on severe autoimmune diseases.Bahija Jallal, head of AstraZeneca’s MedImmune biotech unit, said the drugmaker would remain strongly active in immunology.Chief Executive Pascal Soriot said earlier…

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