New COVID strain detected in Israel; Pfizer vaccine purchase bid delayed

 A new coronavirus strain has been identified in Israel, the Health Ministry said on Tuesday, and the Pfizer/BioNTech vaccine, used primarily in a swift nationwide inoculation drive, appeared to be effective against it.

Separately, a bid by the Israeli government to secure 36 million more Pfizer/BioNTech doses for use as booster shots or for children once they are eligible hit a snag this week over political infighting.

The cabinet had been set for Monday to approve the purchase, at around 3.5 billion shekels ($1.05 billion), but it was called off in a squabble between Prime Minister Benjamin Netanyahu and his defence minister, Benny Gantz, who heads a rival party, over judicial appointments.

The health ministry, which has spent 2.6 billion shekels on vaccines, without disclosing the exact number of Pfizer and Moderna doses purchased, said it had sufficient supplies “for the present round of vaccinations”.

But it said it was important to acquire more doses to fend off variants and inoculate children when that becomes possible.

The ministry said separately it discovered no evidence the new variant caused widespread infection or severe morbidity, and said it appeared to be scarce and may be disappearing entirely.

More than half of Israel’s population of nine million have received both doses of the Pfizer/BioNTech vaccine. Infection rates have been dropping steadily, and Israel’s economy has largely reopened.

Health officials have said they expect all those eligible for the vaccine to be inoculated by the end of May. About a third of Israelis are under the age of 16, rendering them ineligible until the Pfizer/BioNTech vaccine is deemed safe for children.

Israel is in the grips of another political stalemate after an election last week, its fourth in two years, ended with no clear winner. Talks on building a governing coalition could go on for weeks.

A spokeswoman for Pfizer declined to comment on the potential vaccine sale.

Netanyahu said this month that Israel is looking to buy 36 million more doses of COVID-19 vaccines.

https://www.reuters.com/article/us-health-coronavirus-israel/new-covid-strain-detected-in-israel-pfizer-vaccine-purchase-bid-delayed-idUSKBN2BM1QT

U.S. lawmakers press Big Tech for internal research on kids' mental health

 Four Republican U.S. lawmakers requested on Tuesday that Facebook Inc, Twitter Inc and Alphabet Inc’s Google turn over any studies they have done on how their services affect children’s mental health.

The request follows a joint hearing last week of two House Energy and Commerce subcommittees at which the companies’ chief executives discussed their content moderation practices in the wake of the siege on the Capitol in January.

Representative Cathy McMorris Rodgers, the committee’s ranking Republican, had asked the CEOs at the hearing whether their companies had conducted internal research concerning children’s mental health.

Facebook’s Mark Zuckerberg said he believed the company had, while Twitter’s Jack Dorsey said he did not believe so. Google’s Sundar Pichai said the company consulted with outside experts and invested “a lot of time and effort in these areas.”

In letters to the companies on Tuesday, McMorris Rodgers asked for copies of any relevant research or internal communications as well as information on any contractors and partners involved. They also requested any research the companies had done about how competitors’ products affect mental wellness of people under 18 years old.

The requests also cover Google’s YouTube Kids service and Facebook’s Instagram, which is developing a version for people under 13 years old.

The other lawmakers who signed the letter were ranking Republicans on various subcommittees, including Robert Latta, Gus Bilirakis and Morgan Griffith.

They asked for the companies to respond by April 16.

https://www.reuters.com/article/us-usa-congress-tech/u-s-lawmakers-press-big-tech-for-internal-research-on-kids-mental-health-idUSKBN2BM2UI

Surface Oncology Pancreatic Cancer Treatment Gets Orphan Drug Tag

  Surface Oncology (Nasdaq: SURF), a clinical-stage immuno-oncology company developing next-generation immunotherapies that target the tumor microenvironment, today announced that the U.S. Food and Drug Administration (FDA) has granted Orphan Drug Designation for one of the company’s lead therapeutic candidates, SRF617, for the treatment of patients with pancreatic cancer.

“We are pleased to receive this important designation from the FDA, which supports our conviction that new immunotherapies for pancreatic cancer are urgently needed,” said Alison O’Neill, M.D., senior vice president, clinical development at Surface Oncology. “We are very encouraged by our clinical progress to date with SRF617, a highly innovative therapy with the potential to promote anti-tumor immunity in patients with cancer. SRF617 is in Phase 1/1b studies across a variety of solid tumors, including combination studies with gemcitabine and abraxane in patients with pancreatic cancer.”

Orphan Drug Designation is granted by the FDA to drugs or biologics intended to treat a rare disease or condition, defined as one that affects fewer than 200,000 people in the United States. Programs with Orphan Drug status receive partial tax credit for clinical trial expenditures, waived user fees and eligibility for seven years of marketing exclusivity.

https://finance.yahoo.com/news/surface-oncology-srf617-receives-orphan-203000832.html

Amgen to Acquire Rodeo Therapeutics

 Preclinical Program Targeting 15-PGDH has Potential use in a Broad Range of Therapeutic Applications Including Inflammatory Disease Indications

Amgen Inc. (NASDAQ:AMGN) and Rodeo Therapeutics Corporation (Rodeo) today announced an agreement under which Amgen will acquire Rodeo, a privately held biopharmaceutical company based in Seattle that develops small-molecule therapies designed to promote regeneration and repair of multiple tissues. Rodeo's 15-PGDH program is a strong strategic fit with Amgen's inflammation portfolio and efforts to develop first-in-class therapeutics for patients.

Under terms of the agreement, Amgen will acquire all outstanding shares of Rodeo in exchange for a $55 million upfront payment as well as future contingent milestone payments potentially worth up to an additional $666 million in cash. The transaction has been approved by the shareholders and the Board of Directors of Rodeo.

Rodeo is focused on developing first-in-class, orally available modulators of prostaglandin biology that play an important role in tissue regeneration and repair. Rodeo's lead 15-prostaglandin dehydrogenase (15-PGDH) modulators have generated compelling data in extensive preclinical studies and have clinical potential in multiple indications.

https://finance.yahoo.com/news/amgen-acquire-rodeo-therapeutics-corporation-200000271.html

Bayer to launch sale of 2B euro pest control unit BES this summer

 German chemicals group Bayer is preparing to launch an auction for its pest control unit Bayer Environmental Science (BES) seen worth more than 2 billion euros ($2.35 billion) in the summer, people close to the matter said.

The agrichemicals giant, which continues to deleverage in the wake of its $66 billion acquisition of U.S. peer Monsanto in 2016, is working with Bank of America on the BES divestiture, the people said.

While first introductory meetings with prospective buyers are already taking place, an auction will officially be kicked off just before or after the summer break with the view of signing a deal by year-end, they added.

Bayer and Bank of America declined to comment.

Bayer is planning to market the unit, which supplies products like pesticides for golf courses and rodent protection for warehouses, to peers such as Scotts Miracle-Gro, ICL as well as private equity groups, the people said.

BES is expected to post earnings before interest, tax, depreciation and amortization of about 200 million euros this year and could be valued at 10-12 times that, they added.

BES last year saw revenues increase by 7.6% to 1.1 billion euros, while most other units of Bayer’s CropScience division saw sales slump on weak trading in North America, Bayer said in its annual report published last month.

Since the Monsanto acquisition, Bayer has already sold its 6 billion euro animal health business, its stake in 3.5 billion chemical park Currenta, as well as consumer brands such as Dr. Scholl’s and Coppertone worth about 500 million each.

Its net debt still stood at 41.9 billion euros as of December 2020. 

https://www.reuters.com/article/idUSL8N2LS6B4

FTC seeks to stop Illumina's proposed purchase of Grail

 The Federal Trade Commission will seek to stop Illumina Inc's $7.1 billion proposed acquisition of cancer detection test maker Grail, the agency said in a statement on Tuesday.

Illumina's stock fell 5.5 percent on the news.

The agency said the deal would slow innovation for tests that are designed to detect multiple kinds of cancer. Illumina, a life sciences company, was the only U.S. company to provide DNA sequencing for multi-cancer early detection tests, the FTC said. Grail makes a non-invasive, early detection biopsy test to screen for many kinds of cancers using DNA sequencing, the agency said.

Grail has developed a test called Galleri, which is currently available only to participants in clinical studies, according to the company's website.

Illumina said in a statement that it was committed to pursuing the acquisition.

https://finance.yahoo.com/news/1-u-ftc-seeks-stop-193406895.html

German Vaccine Authority to Recommend Only Over-60s Get AstraZeneca Shot

 Germany's vaccine authority will recommend the government ban the AstraZeneca PLC Covid-19 vaccine for people younger than 60, an official at the country's disease control agency said.

The move could set back Germany's already sputtering vaccine program by several months. The final decision rests with the federal government, but local authorities were already anticipating a ban on Tuesday by withholding the shot for younger recipients.

The decision to change the current recommendation to use the vaccine for all age groups comes after authorities recorded 31 cases of a rare blood clotting in the brain among the over 2.6 million people who had received the shot by Monday.

https://www.marketscreener.com/quote/stock/ASTRAZENECA-PLC-4000930/news/German-Vaccine-Authority-to-Recommend-Only-Over-60s-Get-AstraZeneca-Shot-32840080/