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Monday, January 3, 2022

Hypertension biotech CinCor Pharma sets terms for $176 million IPO

 CinCor Pharma, a Phase 2 biotech developing oral treatments for hypertension and cardio-renal diseases, announced terms for its IPO on Monday.


The Boston, MA-based company plans to raise $176 million by offering 11 million shares at a price range of $15 to $17. At the midpoint of the proposed range, CinCor Pharma would command a fully diluted market value of $594 million.

The company's lead candidate, CIN-107, has been designed to use a differentiated mechanism of action, direct inhibition of aldosterone synthase production, with the goal of providing an improved treatment for patients suffering from hypertension, or high blood pressure. In 2021, CinCor Pharma initiated several different trials for patients suffering from hypertension as well as primary aldosteronism, or PA. The company is also exploring its utility in ameliorating complications of chronic kidney disease, or CKD, with plans to initiate trials in the first half of 2022. 

CinCor Pharma was founded in 2018 and plans to list on the Nasdaq under the symbol CINC. Morgan Stanley, Jefferies, and Evercore ISI are the joint bookrunners on the deal. It is expected to price during the week of January 3, 2022.

ALS biotech Amylyx Pharmaceuticals sets terms for $166 million IPO

 Amylyx Pharmaceuticals, a Phase 3 biotech developing therapies to treat ALS, announced terms for its IPO on Monday.


The Cambridge, MA-based company plans to raise $166 million by offering 8.8 million shares at a price range of $18 to $20. At the midpoint of the proposed range, Amylyx Pharmaceuticals would command a fully diluted market value of $1.1 billion.

Amylyx is developing therapies for amyotrophic lateral sclerosis (ALS) and a broad range of neurodegenerative diseases. The company believes its lead candidate, AMX0035, is the first drug candidate to show both a functional and survival benefit in a large-scale clinical trial of patients with ALS. Amylyx recently initiated a 48-week Phase 3 trial of AMX0035 for the treatment of ALS in the US and Europe. It submitted an NDS in Canada in the 2Q21, an NDA to the FDA in the 4Q21, and plans to submit an MAA in Europe in the 1Q22.

Amylyx Pharmaceuticals was founded in 2014 and booked $1 million in revenue for the 12 months ended September 30, 2021. It plans to list on the Nasdaq under the symbol AMLX. Goldman Sachs, SVB Leerink, and Evercore ISI are the joint bookrunners on the deal.

GOP senators press for answers on testing shortages despite 'ample' funding

 Two top Republican senators are calling on the Biden administration to provide answers about how it has spent billions of dollars in testing funds for COVID-19 amid shortages in such tests across the country. 

Pharmacies sold out of rapid tests, and long lines at testing sites have sprung up in the last month amid holiday travel and a massive surge in cases fueled by the omicron variant. 

Sen. Richard Burr (N.C.), the top Republican on the Senate’s health committee, and Sen. Roy Blunt (Mo.), the top Republican on the Appropriations health subcommittee, wrote to Secretary of Health and Human Services Xavier Becerra to ask why there are shortages despite the billions approved by Congress since 2020 that were specified for increased testing.

The senators pointed to $34.8 billion for testing across five bipartisan packages in 2020, and another $47.8 billion from Democrats’ American Rescue Plan in 2021. 

“With over $82.6 billion specifically appropriated for testing, and flexibility within the Department to allocate additional funds from COVID-19 supplemental bills or annual appropriations if necessary, it is unclear to us why we are facing such dire circumstances now,” the senators write. “It does not appear to be because of lack of funding, but a more fundamental lack of strategy and a failure to anticipate future testing needs by the administration.”

Health experts have also been pushing the administration for months to do more to make rapid tests free and widely available. 

Late last month, the administration took action on that front, announcing the purchase of 500 million rapid tests to be made available for free to Americans who order them online. The tests are set to become available this month. Experts have pushed for further action given the U.S. population of 330 million, saying that 500 million tests are far from enough. 

The senators are seeking information from Becerra about how much funding for testing remains unused, as well as a breakdown of how congressional funding for tests has been spent so far.

https://thehill.com/policy/healthcare/588037-gop-senators-press-for-answers-on-testing-shortages-despite-ample-funding

No charges for Cuomo in nursing home investigation: attorney

 The Manhattan district attorney's office is closing its probe into former New York Gov. Andrew Cuomo's (D) handling of nursing home deaths during the early days of the coronavirus pandemic, an attorney for Cuomo said Monday.

Elkan Abramowitz, a former high-ranking federal prosecutor who was hired by Cuomo while he was still in office, said there will be no charges.

“I was contacted today by the head of the Elder Care Unit from the Manhattan District Attorney’s Office who informed me they have closed its investigation involving the Executive Chamber and nursing homes. I was told that after a thorough investigation – as we have said all along – there was no evidence to suggest that any laws were broken,” Abramowitz said in a statement.

A spokesperson for the Manhattan district attorney did not immediately respond to a request for comment.

An investigation by the New York attorney general found that Cuomo’s administration undercounted coronavirus-related deaths at nursing homes by as much as 50 percent.

A separate investigation by the New York Assembly also recently concluded that Cuomo's administration misrepresented data on COVID-19 nursing home deaths.

New York counted only residents who died on nursing home property and did not include those who were transferred to hospitals. But according to the report, most of the deaths occurred in hospitals.

Cuomo announced his resignation in August after the New York state attorney general's office released a report detailing numerous allegations of sexual harassment from multiple women. Cuomo has denied the allegations. 

https://thehill.com/homenews/state-watch/588047-no-charges-for-cuomo-in-nursing-home-investigation-attorney

Florida surgeon general blasts 'testing psychology' around COVID-19

 Florida Surgeon General Joseph Ladapo said on Monday it was time to "unwind" the "testing psychology" many Americans have developed throughout the pandemic, as COVID-19 cases surge in his state. 

"We are going to be working to unwind the sort of testing psychology that our federal leadership has managed to, unfortunately, get most of the country in over the last two years," Ladapo said at a news conference Monday. 

He added that people were planning and living their lives around testing but said it was "really time for people to be living, to make the decisions they want regarding vaccination, to enjoy the fact that many people have natural immunity."

Lapado's comments come as COVID-19 cases are surging in Florida and around the country. 

The Florida Department of Health reported 298,455 new cases with a positivity rate of 26.5 percent for the week of Dec. 24 through Dec. 30, compared to 128,186 cases the week of Dec. 17 and 29,514 cases the week of Dec. 10.

Gov. Ron DeSantis (R) acknowledged at Monday's press conference that Florida was struggling with testing shortages as people flood the state's testing sites but said the federal government has “total control” over testing supplies, according to WFLA.

DeSantis added that Ladapo would be releasing new testing guidance focused on testing “if you have a reason,” per WFLA. 

Lapado cited an example of prioritizing an elderly grandmother over a third grader and said the focus would be on testing that could "likely change outcomes," according to WTSP.  

Ashish Jha, dean of Brown University's School of Public Health, said in a tweet that the surgeon general's comments were "completely backwards."

"Florida Surgeon General says we need to stop testing and get back to our lives," Jha said. "In fact, with ubiquitous testing, we can keep infections low and safely get back to our lives."

In 2020, then-President Trump also suggested that less testing would be beneficial for the pandemic. 

"If we stop testing right now, we’d have very few cases, if any," Trump said during a White House event about the administration's actions to help senior citizens.

Republicans have recently upped the pressure on President Biden over testing shortages, with people struggling to buy at-home tests or schedule appointments for tests amid the omicron surge. 

Two top Republican senators on Monday called on the Biden administration to provide answers about how it has spent billions of dollars in testing funds for COVID-19 amid shortages in such tests across the country.

https://thehill.com/policy/healthcare/588075-florida-surgeon-general-blasts-testing-psychology-around-covid-19

How COVID-19 transformed genomics and changed handling of disease outbreaks

 If the pandemic had happened ten years ago, what would it have looked like? Doubtless there would have been many differences, but probably the most striking would have been the relative lack of genomic sequencing. This is where the entire genetic code—or "genome"—of the coronavirus in a testing sample is quickly read and analyzed.

At the beginning of the pandemic, sequencing informed researchers that they were dealing with a virus that hadn't been seen before. The quick deciphering of the virus's  also allowed for vaccines to be developed straight away, and partly explains why they were available in record time.

Since then, scientists have repeatedly sequenced the virus as it circulates. This allows them to monitor changes and detect variants as they emerge.

Sequencing itself is not new—what's different today is the amount taking place. Genomes of variants are being tested around the world at an unprecedented rate, making COVID-19 one of the most highly tested outbreaks ever.

With this information we can then track how specific forms of the virus are spreading locally, nationally and internationally. It makes COVID-19 the first outbreak to be tracked in near real-time on a global scale.

This helps with controlling the virus. For example, together with PCR testing, sequencing helped reveal the emergence of the alpha variant in winter 2020. It also showed that alpha was rapidly becoming more prevalent and confirmed why, revealing that it had significant mutations associated with increased transmission. This helped inform decisions to tighten restrictions.

Sequencing has done the same for omicron, identifying its concerning mutations and confirming how quickly it's spreading. This underlined the need for the UK to turbocharge its booster program.

The road to mass sequencing

The importance of genomic sequencing is undeniable. But how does it work—and how has it become so common?

Well, just like people, each copy of the coronavirus has its own genome, which is around 30,000 characters long. As the virus reproduces, its genome can mutate slightly due to errors made when copying it. Over time these mutations add up, and they distinguish one variant of the virus from another. The genome of a variant of concern could contain anywhere from five to 30 mutations.

The virus's genome is made from RNA, and each of its 30,000 characters is one of four , represented by the letters A, G, C and U. Sequencing is the process of identifying their unique order. Various technologies can be used for this, but a particularly important one in getting us to where we are is nanopore sequencing. Ten years ago this technology wasn't available as it is today. Here's how it works.

First the RNA is converted to DNA. Then, like a long thread of cotton being pulled through a pinhole in a sheet of fabric, the DNA is pulled through a pore in a membrane. This nanopore is a million times smaller than a pin head. As each building block of DNA passes through the nanopore, it gives off a unique signal. A sensor detects the signal changes, and a computer program decrypts this to reveal the sequence.

Amazingly, the flagship machine for doing nanopore sequencing—the MinION, released by Oxford Nanopore Technologies (ONT) in 2014—is only the size of a stapler; other sequencing techniques (such as those developed by Illumina and Pacific BioSciences) generally require bulky equipment and a well-stocked lab. The MinION is therefore incredibly portable, allowing for sequencing to happen on the ground during a disease outbreak.

This first happened during the 2013–16 Ebola outbreak and then during the Zika epidemic of 2015–16. Pop-up labs were set up in areas lacking scientific infrastructure, enabling scientists to identify where each outbreak originated.

This experience laid the foundation for sequencing the coronavirus today. The methods honed during this time, in particular by a genomics research group called the Artic Network, have proved invaluable. They were quickly adapted for COVID-19 to become the basis on which millions of coronavirus genomes have been sequenced across the globe since 2020. Nanopore sequencing of Zika and Ebola gave us the methods to do sequencing at a never-before-seen scale today.

That said, without the much larger capacity of the benchtop machines from Illumina, Pacific Biosciences and ONT, we wouldn't be able to capitalize on the knowledge gained through nanopore sequencing. Only with these other technologies is it possible to do sequencing at the current volume.

What next for sequencing?

With COVID-19, researchers were able to monitor the outbreak only once it had started. But the creation of rapid testing and screening programs for other new diseases, as well as the infrastructure to conduct widespread sequencing, has now begun. These will provide an early warning system to prevent the next pandemic taking us by surprise.

For instance, in the future, surveillance programs may be put in place to monitor wastewater to identify disease-causing microbes (known as pathogens) present in the population. Sequencing will allow researchers to identify new pathogens, allowing an early start on understanding and tracking the next outbreak before it gets out of hand.

Genome sequencing also has a role to play in the future of healthcare and medicine. It has the potential to diagnose rare genetic disorders, inform personalized medicine, and monitor the ever-increasing threat of drug resistance.

Five to ten years ago, scientists were only just beginning to trial sequencing technology on smaller viral outbreaks. The effects of the past two years have resulted in a huge increase in the use of sequencing to track the spread of disease. This was made possible by technology, skills and infrastructure that have developed over time.

COVID-19 has caused untold damage worldwide and affected the lives of millions, and we're yet to see its full impact. But recent advances—particularly in the field of sequencing—have no doubt improved the situation beyond where we'd otherwise be.

https://medicalxpress.com/news/2022-01-covid-genomics-disease-outbreaks.html

Severe illness, viral coinfection common in children with COVID-19 hospitalization

 Many pediatric patients with COVID-19-related hospitalization have severe illness, according to research published in the Dec. 31 issue of the U.S. Centers for Disease Control and Prevention Morbidity and Mortality Weekly Report.

Valentine Wanga, Ph.D., from the CDC COVID-19 Response Team, and colleagues reviewed medical record data for patients younger than 18 years with COVID-19-related hospitalizations during July to August 2021. Of the 915 patients identified, 713 were hospitalized for COVID-19, 177 had an incidental positive severe acute respiratory syndrome coronavirus 2 test result (unrelated to hospitalization), and 25 had multisystem inflammatory syndrome in children.

The researchers found that of the 713 patients hospitalized for COVID-19, 24.7, 17.1, 20.1, and 38.1 percent were aged younger than 1, 1 to 4, 5 to 11, and 12 to 17 years, respectively. About two-thirds (67.5 percent) had one or more underlying medical condition, most commonly obesity (32.4 percent); 61.4 percent of those ages 12 to 17 years had obesity. Overall, 15.8 percent of patients hospitalized for COVID-19 had a viral coinfection (66.4 percent had respiratory syncytial virus infection). Only one of the 272 vaccine-eligible patients hospitalized with COVID-19 was fully vaccinated (0.4 percent). Of the patients hospitalized for COVID-19, 54.0, 29.5, and 1.5 percent received oxygen support, were admitted to the , and died, respectively. Of those requiring respiratory support, 14.5 percent needed invasive mechanical ventilation.

"These data highlight the importance of COVID-19 vaccination for those aged ≥5 years and other prevention strategies to protect children and adolescents from COVID-19, particularly those with obesity and other underlying health conditions," the authors write.

Several authors disclosed financial ties to the pharmaceutical industry; one author reports application of a patent with a pharmaceutical company.


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