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Wednesday, July 29, 2020

Sorrento jumps after licensing rapid COVID-19 test from Columbia

Sorrento Therapeutics (NASDAQ:SRNE) climbs 4.5% after signing a licensing pact with Columbia University for the rights to a rapid one-step diagnostic test that detects SARS-CoV-2 virus in as little as 30 minutes from a saliva sample.
The test developed by Columbia’s team, to be marketed by Sorrento under the COVI-TRACE name, holds all of the testing materials in a single tube and requires no specialized laboratory equipment, making it easily deployable for point-of-care, on-site, or potentially at-home testing.

Relief Therapeutics’s Aviptadil gets FDA expanded access protocol for COVID-19

FDA signs off expanded access protocol to Relief Therapeutics’s (OTCPK:RLFTF) and its U.S. partner NeuroRx, for RLF-100 (aviptadil) in COVID-19 patients with respiratory failure.
The protocol makes treatment available to patients who have exhausted approved therapies and are not eligible for the current phase 2/3 trial of RLF-100 because of other medical conditions.
RLF-100 is a patented formulation of Aviptadil (synthetic human Vasoactive Intestinal Polypeptide VIP), which inhibits pro-inflammatory cytokines and protects alveolar type 2 cells in the lungs inhibiting pro-inflammatory cytokines, essential for oxygen exchange.

Rite Aid further expands COVID-19 sample collection sites

Continuing its expansion of no-charge COVID-19 sample collection sites, Rite Aid (RAD -3.8%) announces the addition of six drive-through locations, effective tomorrow, July 30, in Michigan and Ohio, through its partnership with the U.S. Department of Health and Human Services (HHS).
Locations now total 254 in 15 states and have the capacity to collect +96.1K swab specimens for COVID-19 testing each week.

Cortexyme data shows potential of lead drug in CV disease and Alzheimer’s

Cortexyme (CRTX -0.5%) announces encouraging preclinical data on lead candidate atuzaginstat (COR388) that, it says, support its potential for treating cardiovascular disease (CVD) and Alzheimer’s disease (AD). The data are being presented at the Alzheimer’s Association International Conference.
The company says the results demonstrate the role of a bacterium called Porphyromonas gingivalis (P. gingivalis) in both CVD and AD and provide a possible explanation for why the two often occur together.
P. gingivalis, a oral pathogen believed to effect more than half of adults that causes gum disease (gingivitis), releases toxic enzymes called gingipains. A preclinical study in a rabbit model of atherosclerosis (buildup of plaques in arteries) showed that oral infection with P. gingivalis accelerated atherosclerosis while treatment with atuzaginstat, a gingipain inhibitor, reduced inflammation and the formation of unstable atherosclerotic plaques.
P. gingivalis releases gingipains when it invades the brain. Results from nerve cell cultures showed that atuzaginstat and proprietary gingipain inhibitors protected neurons infected with the bacterium from synapse loss while reducing bacterial load in infected neurons, astrocytes and microglia and protecting against deficits in other pathways impacted by the pathogen.
A Phase 2/3 clinical trial, GAIN, assessing atuzaginstat in patients with mild-to-moderate AD dementia, is ongoing with an estimated completion date in December 2022.

Veracyte partners with MAVIDx for COVID-19 diagnostic kits

Veracyte (VCYT +5.3%) will collaborate with MAVIDx to develop high throughput genomic testing for SARS-CoV-2 on the nCounter Analysis System, Veracyte’s diagnostics platform. Financial terms are not disclosed.
The tests may enable processing of 40,000+ patient samples per day using molecular barcodes for viral RNA.
Veracyte has secured an equity stake in MAVIDx and will supply the company’s infectious disease test kits and nCounter instruments.
Veracyte acquired the exclusive global diagnostic rights to the nCounter system from NanoString in December 2019.

Editas taps Catalent to supply lineup of products

Editas Medicine (EDIT +0.3%) inks an agreement with Catalent (CTLT +1.4%) under which the latter will provide support for the development, manufacture and clinical supply of the former’s current and future portfolio of gene and cell therapies.
Currently, CTLT is providing gene therapy manufacturing and related services to EDIT at its site in Baltimore, MD. It is putting the finishing touches on a new 32,000 sq. ft. cell therapy facility near Houston, TX, that should be fully commissioned next year.
Financial terms are not disclosed.

Oak Street Health sets terms of upsized IPO

Oak Street Health (OSH) has filed a new preliminary prospectus for its IPO of 15,625,000 common shares at $15 – 17 per share, expected to yield gross proceeds of $250M at the midpoint.
Earlier this month, it filed for a $100M IPO, although the projected amount was a placeholder.